Does The Adoption Of XBRL Will Impact Analysts' Forecast Dispersion And Accuracy

Since its inception in 1998,XBRL has been developing rapidly around the world.After nearly 20 years of development,XBRL has been widely used in more than 50 countries in different fields,such as securities industry,taxation,finance industry,data integration,pensions and so on.These documents contain a lot of financial information and non-financial information to be further analyzed and digged.In the face of the emerging disclosure of XBRL financial reports,we need to consider the following questions.Does the disclosure of XBRL format financial reporting improve the quality of information? Does the disclosure of XBRL format financial reporting increase the amount of information? Does XBRL help analysts predict business conditions,financial results,and business follow-up? Does XBRL improve the analyst's information environment to help analysts anticipate corporate investment risks and investment returns? These questions are subject to empirical research to give the answer.On the basis of this,this paper takes XBRL financial report as the research object,and makes an empirical test on the above problems,and tries to provide policy suggestions for the current spread of XBRL technology in China and provide possible enlightenment for investor decision.This paper summarizes the development history of XBRL at home and abroad,summarizes the research results of XBRL by domestic and foreign scholars,analyzes the factors that affect the predictive behavior of analysts,and studies the impact of XBRL on analyst's degree of dispersion and accuracy,provides recommendations on XBRL implemention in our country.Based on the empirical ananlsis,this paper examed the impact of the implementation of XBRL financial report on the analyst's forecasting dispersion and accuracy.The study found that the implementation of XBRL in terms of the overall sample increased the analyst's forecast dispersion and had no significant effect on the accuracy of the analyst's forecast.For the listed companies of Shenzhen Stock Exchange,the implementation of XBRL increased the analyst's forecast dispersion and had no significant effect on the accuracy of the analyst's forecast.In terms of the Shanghai Stock Exchange listed companies,the implementation of XBRL increased analyst's forecast dispersion,and improve the accuracy of the analyst forecast.