The Affection Of XBRL On The Quality Of Accounting Information Of Listed State-owned Companies

In the society of rapid economic growth, informatization plays an important role in the social andeconomic development. In Hu’s report at18th Party Congress, for the first time “An impressivepromotion of informatization level” was listed in the goals of building a well-off society in anall-round way in China. informatization has become a new economic drive. Accountinginformatization comprises an important part of national informatization, with XBRL as its standardaccording to The Ministry of Finance in Beijing. XBRL, first proposed by the American certifiedpublic account Charles Hoffman in1998, nowadays has been adopted in the financial report in dozensof countries after15-year development. In2009, the XBRL information platform of the listedcompanies was operated in the Shenzhen Stock Exchange and then Shanghai Stock Exchange, and alllisted companies was asked to submit the XBRL annual reports. Until the late March of2013, theXBRL annual reports of all the listed companies will be able to be consulted. State-owned listedcompanies constitute a high proportion of China’s listed companies, so the accounting informationquality of the state-owned listed companies, to some degree, represents that of China. State-ownedlisted companies have a heavy task of making reports in that every year they need to submit annualreports to the State-owned Assets Supervision Administration Commission of the State Council andother institutions. Would the practice of XBRL improve the accounting information quality ofstate-owned listed companies? An evaluation of XBRL from the perspective of financial reporters andfinancial reports users would be significant to examine if XBRL could improve the accountinginformation quality of the state-owned listed companies.Normative approach and logical positive approach are combined in the thesis to have a researchon the influences of XBRL on the accounting quality of the state-owned listed companies. Firstly, wehave an introduction of the related concepts and theories of XBRL financial reports and accountinginformation quality, and a descriptive analysis of the accounting information quality of thestate-owned listed companies and the current situation of the practice of XBRL in the state-ownedlisted companies. Based on the four features of accounting information quality, correlation, reliability,comparability and timeliness, also, the improvement that XBRL makes in the accounting informationquality was analyzed from normative approach. Secondly, an assumption that XBRL could improvethe accounting information quality is proposed in the thesis. Then the XBRL can improve the qualityof accounting information of listed state-owned company assumptions to select2008-2011ShenzhenA-share listed state-owned company’s annual report as a sample, using event study methodology todefine the event date and window period, the sample company’s annual report disclosurein2009-2012,by calculating the sample companies disclosed in the annual report before and after the cumulativeabnormal returns to explore the impact of XBRL CAR; using paired T-test and multiple regressionCAR regression testing, determination of the XBRL CAR significant extent. The results show that:(1) Samples disclosed in the annual report of the Company before and after the CAR have increased in2009-2012,2009,2010and2012, the CAR of the sample to the disclosure before and after have asignificant by paired T-test. Although the2011annual report disclosure before and after the changes inthe CAR does not have significant but many impact factor, by the face of the sample CAR regressionanalysis, the results show that the2009-2012Annual Report XBRL disclosure at the1%levelsignificantly affect the CAR.(2) The results supports the assumption and XBRL could improve theaccounting information quality of the state-owned listed companies. Thirdly, several advices are putforward to help improve the XBRL-based accounting information quality of the state-owned listedcompanies.