Using Empirical Research Method To Study XBRL Effects On The Quality Of Accounting Information

Since 1998 Chahes Hoffman has been put forward the XBRL，many countrieshave been using XBRL standards for financial reporting, at the same time, XBRLinternational organization has held 23 international conference in many countries，such as in the UK, the United States, Australia, Germany, Canada, Japan, Holland andother countries。It shows the promotion and application of XBRL in various countriesare quite widely. The Shenzhen stock exchange and Shanghai stock exchange has hadopened service platform based on XBRL standard system reporting for financialreports since 2009 in China, but based on our country introducing XBRL is aim for“The introduction of XBRL is to to ensure the financial information reliability validityand achieve the financial chain data to the free exchange of financial information.”Therefore, In order to promote the development of XBRL in our country,There hasnecessary to through empirical study to research whether XBRL can improve thequality of financial information or not.Firstly, this paper adopts he method of normative research based on the XBRLstandard for financial reporting can enhance information usefulness, reliability,relevance and so on.Then,adopting empirical research method research XBRL obtains:the XBRL improves the quality of accounting information.This paper uses the event study method, paired T test and multiple regressionmethod for empirical research, which uses the event study approach to definiterelevant events and window; and then using the paired T test on the Shenzhen stockexchange based on XBRL financial disclosure report before and after the CARinspection, the determination of initial XBRL on the impact of CAR; then use multipleregression analysis on CAR regression, test XBRL ’s contribution to CAR isremarkable.Research shows:1.using the event study on whether there is a significant changeof CAR statistics , the results show that the CAR in 2009 and 2011 afer based onXBRL financial reporting have a significant changes, but in 2010 has not significantchange, hower the CAR has increased relativing to the using XBRL befor;2.Usingmultiple regression method for the analysis of the implementation of XBRL on CARhas distinct effect or not, the results showed that based on the XBRL disclosure offinancial report on the three event days in CAR all had significant effect. From theabove, although the CAR in 2010 did not change significantly, but we know that there are many factors impact on stock prices, while a regression studying about CARin 2010 shows that XBRLhad significant effect on 2010 CAR, so the XBRL on thequality of financial information is significantly improved. This paper obtains theXBRL improve the transparency of information, thus beneficial to investors to makemore effective decisions.