Korzyści wynikające z zastosowania XBRL na potrzeby raportowania na rynkach kapitałowych w świetle stanowisk nadzorców rynków oraz badań naukowych

Katarzyna Klimczak

doi:10.18778/0208-6018.340.04

Authors

Katarzyna Klimczak IT Accounting Unit, Institute of Accounting, Warsaw School of Economics http://orcid.org/0000-0002-6002-1167

DOI:

https://doi.org/10.18778/0208-6018.340.04

Keywords:

XBRL, reporting, capital markets, benefits

Abstract

The aim of the article is to identify the most important benefits associated with the use of XBRL for the needs of reporting on capital markets enumerated and analyzed by supervisors of these markets and verified in empirical scientific research. Analyzes and research indicate that the use of the XBRL standard as a tool supporting financial reporting can improve the flow of information, increase the quality and quantity of data available to recipients, increase the comparability of financial statements, increase the ability of users to process and analyze data. The standard may have a major impact on the functioning of the capital market by reducing information asymmetry between market participants, reducing costs of equity, increasing market liquidity. The benefits of using XBRL can be noted by all participants of the capital markets – enterprises financing their operations through these markets, market regulators, investors and analysts.

Downloads

Download data is not yet available.

References

Barron O. E., Byard D., Kim O. (2002), Changes in analysts’ information around earnings announcements, „The Accounting Review”, t. 77(4), s. 821–846.
Google Scholar

Barron O. E., Harris D. G., Stanford M. (2005), Evidence that investors trade on private event‑period information around earnings announcements, „The Accounting Review”, t. 80(2), s. 403–421.
Google Scholar

Boritz J. E., No W. G. (2003), Assurance Reporting for XBRL: XARL (eXtensible Assurance Reporting Language), [w:] S. J. Roohani (ed.), Trust and Data Assurances in Capital Markets: The Role of Technology Solutions, Pricewaterhouse Coopers, Smithfield, s. 17–31.
Google Scholar

Chen S., Harris L., Li W., Wu D. (2015), How Does XBRL Affect the Cost of Equity Capital? Evidence from an Emerging Market, „Journal of International Accounting Research American Accounting Association”, t. 14, nr 2, s. 123–145.
Google Scholar

Cong Y., Hao J., Zou L. (2014), The Impact of XBRL Reporting on Market Efficiency, „Journal of Information Systems”, t. 28, nr 2, s. 181–207.
Google Scholar

Consultation Paper on Draft Regulatory Technical Standards on European Single Electronic Format (2015), ESMA, https://www.esma.europa.eu/press-news/consultations/consultation-paper-european-single-electronic-format (dostęp: 17.03.2018).
Google Scholar

Dyrektywa Parlamentu Europejskiego i Rady 2013/50/UE z dnia 22 października 2013 r. zmieniająca dyrektywę 2004/109/WE Parlamentu Europejskiego i Rady w sprawie harmonizacji wymogów dotyczących przejrzystości informacji o emitentach, których papiery wartościowe dopuszczane są do obrotu na rynku regulowanym, dyrektywę 2003/71/WE Parlamentu Europejskiego i Rady w sprawie prospektu emisyjnego publikowanego w związku z publiczną ofertą lub dopuszczeniem do obrotu papierów wartościowych oraz dyrektywę Komisji 2007/14/WE ustanawiającą szczegółowe zasady wdrożenia niektórych przepisów dyrektywy 2004/109/WE.
Google Scholar

Final Report on the RTS on the European Single Electronic Format (2017), ESMA, https://www.esma.europa.eu/policy‑activities/corporate‑disclosure/european‑single‑electronic‑format (dostęp: 17.03.2018).
Google Scholar

Geiger M. A., North D. S., Selby D. D. (2014), Releasing Information in XBRL: Does It Improve Information Asymmetry for Early U. S. Adopters?, „Academy of Accounting and Financial Studies Journal”, t. 18, nr 4, s. 66–83.
Google Scholar

Hodge F. D., Kennedy J. J., Maines L. A. (2004), Does Search‑Facilitating Technology Improve the Transparency of Financial Reporting? „The Accounting Review”, t. 79, nr 3, s. 687–703.
Google Scholar

http://www.xbrl.org (dostęp: 17.03.2018).
Google Scholar

Inline XBRL Filing of Tagged Data (2018), SEC Release No. 33–10514; 34–83551, https://www.sec.gov/rules/final/2018/33–10514.pdf (dostęp: 17.03.2018).
Google Scholar

Interactive Data to Improve Financial Reporting (2009), SEC Release No. 33–9002, https://www.sec.gov/rules/final/2009/33–9002.pdf (dostęp: 17.03.2018).
Google Scholar

Janvrin D. J., Pinsker R. E., Mascha M. F. (2013), XBRL‑Enabled, Spreadsheet, or PDF? Factors Influencing Exclusive User Choice of Reporting Technology, „Journal of Information Systems”, t. 27, nr 2, s. 35–49.
Google Scholar

Kim J. W., Lim J. H., No W. G. (2012), The Effect of First Wave Mandatory XBRL Reporting Across the Financial Information Environment, „Journal of Information Systems American Accounting Association”, t. 26, nr 1, s. 127–153.
Google Scholar

Kim O., Verrecchia R. (1994), Market liquidity and t.me around earnings announcements, „Journal of Accounting & Economics”, t. 17(1/2), s. 41–67.
Google Scholar

Klimczak K. (2017a), XBRL jako narzędzie raportowania finansowego – główne nurty badań empirycznych, „Studia Ekonomiczne. Zeszyty Naukowe Uniwersytetu Ekonomicznego w Katowicach”, nr 333, s. 125–138.
Google Scholar

Klimczak K. (2017b), Wpływ XBRL na asymetrię informacyjną na rynku kapitałowym, „Finanse, Rynki Finansowe, Ubezpieczenia”, nr 4(88), s. 293–301.
Google Scholar

Klimczak K. (2018), Koszty oraz uwarunkowania implementacji XBRL jako standardu raportowania finansowego na rynkach kapitałowych, artykuł przyjęty do publikacji w „Zeszytach Teoretycznych Rachunkowości”.
Google Scholar

Krinsky I., Lee J. (1996), Earnings announcements and the composition of the bid‑ask spread, „Journal of Finance”, t. 51(4), s. 1523–1535.
Google Scholar

Li O. Z., Lin Y., Ni Ch. (2012), Does XBRL Adoption Reduce the Cost of Equity Capital?, http://www.researchgate.net/publication/256031257_Does_XBRL_Adoption_Reduce_the_Cost_of_Equity_Capital (dostęp: 17.03.2018).
Google Scholar

Liu C., O’Farrell G. (2013), The Role of Accounting Values in the Relation between XBRL and Forecast Accuracy, „International Journal of Accounting & Information Management”, t. 21(4), s. 297–313.
Google Scholar

Liu C., Wang T., Yao L. J. (2014), XBRL’s Impact on Analyst Forecast Behavior: An Empirical Study, „Journal of Accounting and Public Policy”, t. 33(1), s. 69–82.
Google Scholar

Liu Ch., Luo X., Wang F. L. (2017), An Empirical Investigation on the Impact of XBRL Adoption on Information Asymmetry: Evidence from Europe, „Decision Support Systems”, nr 93, s. 42–50.
Google Scholar

Ly K. (2012), Extensible Business Reporting Language for Financial Reporting and Financial Analysts’ Activity: Early Evidence, „Academy of Accounting and Financial Studies Journal”, t. 16, nr 2, s. 25–44.
Google Scholar

Qualitative, quantitative and technological assessment of the appriopriatness of the iXBRL technology for the ESEF (2016), [w:] Feedback Statement on the Consultation Paper on the Regulatory Technical Standard on the European Single Electronic Format (ESEF), European Securities and Markets Authority, https://www.esma.europa.eu/sites/default/files/library/2016–1668_esma_feedback_statement_on_the_rts_on_esef_0.pdf (dostęp: 17.03.2018).
Google Scholar

The Cost‑Benefit Analysis for the Regulatory Technical Standard on the European Single Electronic Format (2016), [w:] Feedback Statement on the Consultation Paper on the Regulatory Technical Standard on the European Single Electronic Format (ESEF), European Securities and Markets Authority, https://www.esma.europa.eu/sites/default/files/library/2016–1668_esma_feedback_statement_on_the_rts_on_esef_0.pdf (dostęp: 17.03.2018).
Google Scholar

Yoon H., Zo H., Ciganek A. P. (2011), Does XBRL Adoption Reduce Information Asymmetry? „Journal of Business Research”, nr 64, s. 157–163.
Google Scholar