Research On The Influence Of XBRL On The Quality Of Accounting Information

Since1998, when Charles Hoffman, an American certified publicaccountant, firstly brought this view into public, the XBRL has beenrapidly accepted and widely used all over the world. Many counties havealready using XBRL to create and transmit financial reports. And in2009,China’s Shenzhen stock exchange and Shanghai stock exchange launchedthe new platform of the XBRL standards. XBRL financial report as a newtrend on the development of the financial report, whether it will have anyimpact on the quality of accounting information? In this paper,we notonly carried on the comprehensive and systematic theoretically analysis,meanwhile we combined it with China’s capital market, using empiricalmethod research on the listed companies’ application effect of XBRLstandards,in order to test whether the XBRL standards can improve thequality of financial report.In this paper, we first adopt the method of normative research,comprehensive analysis from the perspective of accounting informationquality characteristics of the XBRL application effects on various quality features. Then, we adopt the method of empirical research studies XBRLstandard’s application effect on China’s capital market. In the empiricalpart, we selected ERC to measure the quality of accounting information,First uses the event study method to define events point and the window,and then uses the T test for the Shanghai stock exchange to discloseXBRL financial report before and after the change of the CAR, thepurpose is to validate the XBRL after implementation of the marketreaction. Multiple regression analysis, finally do inspection XBRL cansignificantly affect the level of ERC.This article research results show that:1. XBRL can improve thereliability and relevance of accounting information, enhance theunderstandability and comparability, played down the importance andcautious, and makes the real-time financial report is likely to becomereality.2. According to the results of the XBRL financial report disclosurecaused a CAR in the year of2009,2010,2011significant change, showsthat the application of XBRL has certain market reaction, the XBRLreports have a certain information content. Multiple regression analysis results showed that in2011the implementation of the XBRL cansignificantly affect the level of ERC, suggest that XBRL implementationcan increase and improve the quality of financial reporting information.Therefore, this article concluded that the XBRL financial reportdisclosure increase and improve the quality of accounting information.