Voluntary Disclosure Based On XBRL: Incentives And Constraint

The case of false information disclosure emerged frequently in the recently years. People lose the faith in the credit of the security market and the information disclosure system in some degree. Many western countries have begun to study and try to disclose the information voluntarily. Some well-known international companies have formed the system of voluntary information disclosure with the Core competitiveness, supplemented by the corporate governance information and the environmental information. This system had played a positive role in the coordination of the administers and stakeholders, lowering the asymmetric information among investors and improving the quality of information disclosure. Voluntary information disclosure is more meaningful to alleviate the"integrity"crisis and enhance the confidence of investors in our country, in which the listed company is in the transformation of the economic system. However, the domestic theoretical research focused on mandatory information disclosure, and the voluntary disclosure of information is not enough. The practice of Voluntary disclosure is also not satisfied: On the one hand, the information disclosed is not enough, which can't meet investors'diversified demands for information of the listed company; On the other hand, the proceed of disclosure is not standardized, there are certain forms of information bias, which lower the quality of the information. Investors demand for higher quality information. The extensive application of the XBRL in the accounting painted a bright future for the innovation of the voluntary disclosure.This paper study the voluntary disclosure based on XBRL just under the background. Firstly, the article outlined the present of the voluntary disclosure and the existed problem, the voluntary disclosure is just on the early stage, the listed company is not very positive to disclose the information, so the information can't meet the diversity need of the investors. At the same time, there is a certain degree of deviation information by the analysis of the technical framework and technological advantages of XBRL, the article presents the XBRL-based online disclosure is the new ways to innovate the voluntary disclosure. The fourth part constructs the flexible voluntary disclosure from technical support, applications, data transfer, security systems and other aspects. The flexible voluntary disclosure made it possible to innovate the contents and forms of the voluntary disclosure, but it is not enough to make the company to disclose the high quality information. The effective incentive and the appropriate Constraints is required. On the basis of the flexible voluntary disclosure. The fifth part of the paper analyses the effective incentives from the cultivation, the protection and the encouragement. The sixth part analyses the constraint of the voluntary disclosure from the monitoring, the auditing and the subsequent punishment. It is the great pleasure if it can offer some useful suggestion to improve the quality of the information for our country.