The adoption of eXtensible Business Reporting Language (XBRL) requires management to label all information in their firm's financial statements and corresponding notes with either standardor custom extended tags. While prior literature has found that the rate of customization is associated with increased financial reporting complexity, there could be an unintended, beneficial consequence to tax reporting. We examine how the relative use of tax-related XBRL tag extensions could highlight unique tax activity characteristics, in turn increasing tax accrual quality and improving tax reporting transparency. We find that having a higher relative rate of extended tax tags is associated with higher tax accrual quality. That is, utilizing more tax tag extensions can assist in providing useful tax information, especially when a high number of total XBRL tags are used. Our results also suggest the need to reexamine the standard taxonomy to include more tax-oriented terms to improve financial reporting comparability.

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Based on the Fama’s three-factor model (FF3) and five-factor model (FF5), this study adds a low-priced stock premium factor LPP, and then builds a new four-factor and six-factor model respectively to examine the impact of low-price premium (LPP) on the pricing of China’s stock market. The research indicates that LPP is a reliable and effective pricing component in China’s A-share market, and it may be used as a systematic factor in the Chinese stock market’s asset pricing model. The LPP factor shows a strong negative association with stock excess returns. And the inclusion of the LPP in the FF3 and FF5 still passes the robustness test. Meanwhile, the six-factor model created by combining the LPP factor with the FF5 could explain Chinese stock market pricing better.