The Research Of XBRL Taxonomy Macrostructure Standardization And The Evaluation Of Taxonomy Quality Based On The Prospective Of Financial Information Element

As a new way of information disclosure,XBRL(eXtensible Business Reporting Language)has received extensive attention and application in the world's major countries and regions,despite of a series of achievements have achieved,the development of XBRL has also encountered a bottleneck constraints.In the field of XBRL research,XBRL taxonomy is the core element of XBRL technical framework,but the research system has not formed a complete theoretica l system,which is based on XBRL taxonomy,the research of XBRL lack the guidance of basic theoretic,the theory research of XBRL from the view of accounting has been still in the exploratory stage;While in the field of XBRL applications,the main promotion of XBRL application comes from government regulators,but they do not pay much attention on XBRL technology,the pressure of XBRL adoption are mostly forced by regulator y,the enterprise do not keenly aware of benefit within the information preparation and generation,the application of XBRL technology in the field of enterprise counteract constraints;meanwhile,regulators do not diligent in the pace of XBRL taxonomy extensions within industries,which further constrains the pace of XBRL applicatio n within the enterprise.Two aspects inadequate restrain the application of the XBRL technology.How to break the existing situation,to promote the development and application of XBRL technology research,is under the concern of both academia and regulators.With the financial information element theory as the main research line,this article attempts to expand and extend this fundamental theory from the microstruct ure perspective,this paper carry out around two fundamental research issues: "what is the microstructure standardization of financial information element theory",and "the market reaction research based on the financial information element theory and microstruct ure perspective".On one hand,these two problems can extend the financial informat io n element theory from the perspective of the microstructure;on the other hand,this paper could combine the fundamental theory with the practical application,to promote XBRL technology application to a higher level.This paper employ the research method of theoretical analysis and empirical research,we take the theory of financial information element as the research subject,through the layers of expanded manner unfolding research.In summary,the main conclusions of this paper can be conclude as followed:(1)Explore and investigate the microstructure of financial information elements.This paper firstly expand the define the logical structure and spatial structure of financial information element from the theoretical point,identify financial informat io n element can be explained from the structure elements and structure relationship,based on the above two angles,this paper define the information disclosure quality from three different perspective,in order to interpret financial information element theory and extension,and the classification standard of information elements definition and selection,industry classification specifications of the formulation and implementation of the standards and guidance.(2)General taxonomy cannot meet the needs of information disclosure for all firms,the taxonomy need to be extend by industries urgently.In this paper,we employ the set of metrics based on the microscopic structure,to investigate the quality of information disclosure.The results showed that the general taxonomy cannot meet all firms' disclosure behavior,while the quality of taxonomy extended by each firm show a discrepancy among different firms.We argues that,the regulatory should formulate and implement the industry taxonomy,based on the nationa l general taxonomy,to regulate and meet the information disclosure needs of all firms,in order to take advantage of XBRL in the field of information disclosing and transmittingThe innovative of this paper can be summarized as followed:(1)Based on the microscopic structure perspective,this paper extend the financ ia l information element theory.Financial information element theory is the guideline of the XBRL taxonomy.Since Zhang Tianxi proposed financial information element theory,follow-up studies are based on the study of the theoretical basis and the lack of scalability and analysis of the theory,so that the basic theory constructed unable guidelines XBRL taxonomy of application and research,and led to the current "bottleneck" state XBRL applications.From the microscopic structure point of view,the financial information element theory expansion and extension,can enhance the financial information element to understand the theory;for extension and application of XBRL taxonomies through the financial informat io n element microstructure as defined extensions can regulate definition and classificat io n criteria selection information element,for the normalization and standardization of information classification standard elements,and reasonable development and implementation of industry standards for the classification of reference and guidance.(2)This paper propose a new view of how to measure the quality of informat io n disclosure,based on XBRL technology and the microscopic perspective.How to measure the quality of enterprises' information disclosure is the key of information disclosure-related researches.In this paper,the technical characteristics of XBRL in the financial information to quantify the elements and structure of the premise,but also taking into account the different elements of the element hierarchy for information providers and information on the demand side is different utility as a basis for design and construct metrics disclosure of quality indicators to accurately disclosure of corporate information to measure.Make up the traditional studies,informat io n disclosure index cannot achieve accurate measurement of information disclosure deficiencies.Taking into account the XBRL reporting has become mandatory to submit information disclosure format,the proposed disclosure measure,as a measure of Information Disclosure of information disclosure quality in a new way.