The Research On The Effects Of The Application Of XBRL On The Quality Of Accounting Information Of Listed Companies

With the rapid economic development, information technology plays an increasinglyimportant role, it has become a new engine of economic development. With thedevelopment of information technology, accounting environment has changed urgentlyrequired to achieve accounting information. China’s Ministry of Finance has requiredXBRL (Extensible Business Reporting Language) as a standard accounting information.The U.S. CPA Charles Hoffman proposed XBRL to the American Institute of CertifiedPublic Accountants (AICPA) for the first time in1998. As an extensible business reportinglanguage, XBRL can largely compensate for the lack of traditional financial reporting. Itwill be the main way of the future disclosure of financial information.At present, many countries have adopted XBRL standard to submit financial reports.China has opened the XBRL information platform of listed companies in the ShenzhenStock Exchange and the Shanghai Stock Exchange in2010, requiring listed companies tosubmit XBRL standard annual report. As to the end of March2013, we will be the first tobe able to access all the XBRL standard annual reports of listed companies. XBRL-basedfinancial reporting standards as the new trend of the future development of financialreporting, its implementation can improve the quality of accounting information of listedcompanies and enhance the company’s confidence in promoting the use of XBRL?Conduct a comprehensive inspection is very meaningful.In this paper, we first systematically analyze the impact of the application of XBRLon reliability, comparability, timeliness and other quality characteristics of accountinginformation, followed by the use of event study and regression models to the ShanghaiStock Exchange a share, as the research sample, analyze the impact of XBRL on thequality of accounting information. Further offer some suggestions for the promotion anduse of XBRL through research.