The Relationship Study Of XBRL And Accounting Information Quality

XBRL,compared with traditional financial statements,has incomparable advantages in the information processing,storage and exchange.XBRL's main goal is to provide effective information for the market,improve the transparency,reliability and relevance of information.Since 2003 China had began the implementation of XBRL.By 2009 the Shanghai exchange and the Shenzhen exchange had implemented the mandatory disclosure of XBRL.However,nowadays there is lack of momentum to the XBRL's development.To promote the development of XBRL,there appeared a batch of empirical research about whether and how much XBRL influences the decision usefulness of accounting information.Among these studies,however,the research time span is short,and the choose of window period is inconsistent.The persuasiveness that XBRL has long-term and holistic effect on the capital market remains to be improved.So this article chooses the years of long time span,to study the XBRL's influence on the accounting information quality in different window period,and to analyze the long-term impact that XBRL has on the capital market in our country.Based on the results of the analysis,there will be good sense give some suggestions to accelerate the development of the XBRL in China.This article adopts the method of combining theoretical analysis and empirical analysis to study.In theory aspect,this article combed and read relevant literature.First,it is to understand and analyze the basic knowledge of XBRL and the related theory.Second,it is to have the concept definition of the accounting information quality.And then this article gives a detailed analysis of how XBRL's each function influence various parts of the accounting information quality,and points out that low social acceptance of XBRL in our country,along with weak XBRL function,that have limitations to strengthen decision usefulness.In empirical aspect,this article analyzes XBRL from the perspective of decision usefulness.First,it uses the event study method,and finds out in [-2,2] window period,the changes of the cumulative excess yields are more obvious relative to the window period of [-1,1].And then it uses multivariate regression analysis,which proved that in longer window period,XBRL has greater impact on decision usefulness degree.But in both window periods,the influence degree is low.Theses two empirical methods prove that XBRL has influence on capital market in our country,but the market effect remains to be enhanced on aging and extent.On the relevant policy recommendations,this article argues that the government should vigorously support the development of XBRL and XBRL GL software to enhance the functionality of XBRL;and the government should promote the generalization of XBRL General Classification Standard and related professional training,in order to enhance the social acceptance of the XBRL and strengthen the timeliness of information transmission.