Acceptance and Usage of Extensible Business Reporting Language: An Empirical Review

Abstract

Extensible Business Reporting Language (XBRL) is a language based on XML that provides an effective solution for the preparation, presentation and exchange of International Financial Reporting Standards. Many researchers examined the adoption, acceptance or usage of XBRL but none have clarified a direct link between the acceptance of technology and how it affects XBRL users. So, a significant issue to answer is: What is the level of acceptance of XBRL in the European region? Particularly, a new acceptance model was developed based on Technology Acceptance Model 2 (TAM2) in order to test XBRL usage and its impact with five major constructs. The sample consists of 100 listed companies from European Union countries such as United Kingdom, Germany, Spain, Italy, France, Denmark, The Netherlands, Switzerland, Belgium, Luxemburg and Poland. The results reveal that a great number of companies in the European Union are satisfied with the output and the perspectives of XBRL acceptance and usage. The above argument is supported by the positive correlation found in this research among independent constructs and the dependent factors of XBRL acceptance and usage. Europe appears to be a strong supporter of XBRL technology, so non adopters of XBRL can use the results of this study and decide whether XBRL is a useful tool for them or not

Development and Evaluation of a Prototype web XBRL-Enabled Financial Platform for the Generation and Presentation of Financial Statements according to IFRS

“…Regarding PU and PEOU, survey results demonstrated a positive correlation with users' intention to use XBRL Passport. Similar results were presented in previous research, where the participants stated that they intend to implement XBRL in the future because they perceive a lot of benefits from it (Pinsker, 2008;Stergiaki, Stavropoulos & Lalou, 2013). Similarly, current study demonstrated that the use of XBRL can improve accountants' work performance, productivity and efficiency.…”

“…The results indicated that more participants chose to use XBRL technology to complete their financial analysis task, because it was more efficient than Excel or PDF. Stergiaki, Stavropoulos & Lalou (2013) examined the factors that lead to the acceptance and usage of XBRL across several European countries. Researchers extended TAM2 with new variables derived from technology acceptance literature and found that there is a strong user base in Europe supporting and promoting XBRL.…”

“…The results showed that XBRL is a useful technology and that its multiple functions significantly increased the efficiency and effectiveness of their work. Stergiaki, Stavropoulos & Lalou(2013) found that XBRL is a useful financial reporting tool, as it significantly contributes to the performance of business processes. Accordingly, it is argued that if XBRL Passport facilitates users to improve and complete their work, they will prefer to use it in the future.…”

“…Researchers found that PEOU has a major influence on the intention to use laptops. Stergiaki, Stavropoulos & Lalou (2013) indicated that XBRL is an easy system to use and, therefore, encourages users to use it more. They concluded that PEOU has a significant impact on the users' intention to use XBRL.…”

“…Many countries around the world such as Australia, Canada, Switzerland, China, India, Ireland, Japan, Korea, South Africa, Sweden, the USA, the United Arab Emirates, Belgium, Denmark, Finland, France, Germany, Italy, Luxembourg, Netherlands, Portugal, Spain and Great Britain, successfully adopted XBRL. Previous research suggests that most of the European countries that adopted XBRL are satisfied with the performance, quality and generally with all the advantages that the technology offers (Stergiaki, Stavropoulos & Lalou, 2013;Hodge, Kennedy & Maines, 2004;Pinsker, 2008). Most countries, that actively use XBRL, have developed special web financial platforms to provide more reliable, efficient, accurate, transparent and low cost financial information.…”