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德勤－复旦会计论坛系列讲座之八十八

时间：2015年9月22日（周二）下午14：00

地点：史带楼602室

主持人: 施海娜 副教授

演讲嘉宾：Jie Zhou   (National University of Singapore)

 

Title：Does the XBRL mandate increase information acquisition via EDGAR?

 

Abstract：Since the adoption of XBRL in 2009, there have been widespread concerns about whether investors actually use XBRL-tagged data. In this paper, we take a first step in addressing this concern by examining whether the adoption of XBRL led to greater access of filings via EDGAR. We provide evidence that requests for financial statements through EDGAR significantly increased after the SEC mandated use of XBRL for those filings. Moreover, we find that the increased demand is primarily driven by downloads of XBRL-formatted financial statements as opposed to older, alternative formats. Further analyses show that the increase in search is more pronounced for firms with lower visibility, and is higher for users with superior resources and abilities as measured through faster internet connection speeds and identified as coming from states with greater educational attainment. Our findings suggest that the XBRL mandate may be a double-edged sword. On the one hand, we find that XBRL adoption is associated with greater information acquisition through financial statements. However, evidence also suggests that it may widen the information gap between sophisticated and unsophisticated investors.

 

会计学系

2015-9-21