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The Impact of XBRL on Financial Statement Structural Comparability

In: Network, Smart and Open

Author

Listed:
  • Steve Yang

    (Stevens Institute of Technology)

  • Fang-Chun Liu

    (Stevens Institute of Technology)

  • Xiaodi Zhu

    (Stevens Institute of Technology)

Abstract

The quality of corporate financial reporting has long been an important interest of financial reporting users, including investors, financial analysts, and regulators. Comparability is a key qualitative characteristic of accounting information that facilitates the comparison of financial statements. However, various reporting formats and accounting taxonomy standards result in inconsistent reporting structures that indirectly affect comparability. To improve information comparability, the U.S. Securities and Exchange Commission (SEC) mandated the adoption of the eXtensible Business Reporting Language (XBRL), a search-facilitating technology, to reduce the costs of information search and improve the efficiency of information processing. Leveraging on the XBRL adoption enforced by the SEC, this study investigates whether the comparability of financial statement structure has improved in the post-mandate XBRL period. The results show a significant, consistent comparability improvement in the post-XBRL adoption period, providing empirical evidence of the positive impact of XBRL on enhancing financial statement structural comparability.

Suggested Citation

  • Steve Yang & Fang-Chun Liu & Xiaodi Zhu, 2018. "The Impact of XBRL on Financial Statement Structural Comparability," Lecture Notes in Information Systems and Organization, in: Rita Lamboglia & Andrea Cardoni & Renata Paola Dameri & Daniela Mancini (ed.), Network, Smart and Open, pages 193-206, Springer.
    • Handle: RePEc:spr:lnichp:978-3-319-62636-9_13
    DOI: 10.1007/978-3-319-62636-9_13
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    Cited by:

    1. Sharifah Milda Amirul & Noor Ismawati Jaafar & Anna Azriati Che Azmi, 2022. "Two decades of XBRL: a science mapping of research trends and future research agenda," Quality & Quantity: International Journal of Methodology, Springer, vol. 56(4), pages 2301-2324, August.
    2. Laura Grassi & Davide Lanfranchi, 2022. "RegTech in public and private sectors: the nexus between data, technology and regulation," Economia e Politica Industriale: Journal of Industrial and Business Economics, Springer;Associazione Amici di Economia e Politica Industriale, vol. 49(3), pages 441-479, September.

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