The impact of adoption of the XBRL on the development of stock markets / Wafa Sassi, Hakim Ben Othman and Khaled Hussainey

• Main Authors: Sassi, Wafa, Ben Othman, Hakim, Hussainey, Khaled
• Format: Article
• Language: English
• Published: Universiti Teknologi MARA 2021
• Subjects: Financial management. Business finance. Corporation finance; Investment, capital formation, speculation
• Online Access: https://ir.uitm.edu.my/id/eprint/2897/1/2897.pdf; https://ir.uitm.edu.my/id/eprint/2897/; https://apmaj.uitm.edu.my/
• Institution: Universiti Teknologi Mara

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.