The Impact of Adoption of The XBRL on the Development of Stock Markets | Zendy

Wafa Sassi | Zendy; Hakim Ben Othman | Zendy; Khaled Hussainey | Zendy

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The Impact of Adoption of The XBRL on the Development of Stock Markets

Author(s) -

Wafa Sassi,

Hakim Ben Othman,

Khaled Hussainey

Publication year - 2021

Publication title -

asia-pacific management accounting journal

Language(s) - English

Resource type - Journals

eISSN - 2550-1631

pISSN - 1675-3194

DOI - 10.24191/apmaj.v16i2-04

Subject(s) - xbrl , business reporting , stock (firearms) , business , capital market , panel data , sample (material) , stock market , accounting , finance , economics , econometrics , engineering , mechanical engineering , paleontology , chemistry , chromatography , horse , biology

The paper examines the impact of adoption of the eXtensible Business Reporting Language (XBRL) on the development of stock markets using a large international sample. Our analysis was based on panel estimation techniques for 18 countries for a period of 20 years from 2000 to 2019. Our analysis provided empirical evidence that the adoption of the XBRL has a negative impact on the development of stock markets. This implies that strict policies are needed for the successful adoption of the XBRL and also a mechanism is needed to ensure that stakeholders understand the value of the information provided by the XBRL formatted financial reports. Keywords: XBRL, development of capital markets, panel estimation techniques, cross-countries study

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