Research On Hierarchical Extension Of Company Information Disclosure Based On XBRL Universal Taxonomies

XBRL technology is widely applied in the field of financial disclosureinformation, covering almost the entire process of financial report preparation. Thequality of XBRL generic classification has crucial influence to the financialdisclosures by companies. This paper aims to evaluate the common quality standardsof classification criteria. Based on this, this paper continues to explore why the firmsextent their disclosure to some other elements in practice. Finally, this papercontributes the literation by improving the quality and transparency of informationdisclosure.This paper compares the financial disclosure information with the standardelements of generic classification. Moreover, we evaluate the integrity andefficiency of common classification criteria through absolute and relative indicatorsindex. We analyze the phenomenon that listed companies extend their disclosurebeyond common classification criteria. This paper explains this phenomenon fromthree dimensions, including board mechanism, ownership structure and financialcondition.We further specifies the dimensions into seven indicators, such as theproportion of independent directors, general manager and chairman of the boardwhether a person, a large proportion of shareholders, the management stake, the sizeof the company’s assets, the asset-liability ratio and the ROE. With these indicators,this paper tests the hypothesis by the multivariate linear regression model. Thesample includes58listed companies from real estate industry. This paper collectsthe data by matching the annual reports of58listed companies in2012with thestandard elements of generic classification released by the Ministry of Finance.The results show that the absolute indicator of expansion behaviors of listed isrelatively high. Meanwhile, the efficiency of common classification standards isacceptable, but the integrity is still inadequate. The results indicate standardelements of generic classification are yet to be improved. Besides, multiple linearregression results showed the financial position of listed companies significantlyinfluence their extension behaviors in a positive way. Specifically, the financialposition includes the assets size and asset-liability ratio. According to empiricalanalysis, we provide the recommendations about the XBRL taxonomy extensions tothe Ministry of Finance and China Securities Regulatory Commission.