Longitudinal Analysis of Voluntary Adoption of XBRL on Financial Reporting

Adopting XBRL in Italy: Early evidence of fit between Italian GAAP Taxonomy and current reporting practices of non-listed companies

“…Bonsón et al (2009a) state that the IFRS-GP Taxonomy, which is itself based on IFRS, constitutes a common platform for the use of XBRL. Similarly, Efendi et al (2009) argue that XBRL, in conjunction with IFRS, could have a positive effect on accounting and financial reporting worldwide. Moreover, XBRL usage could encourage firms to report under a single GAAP worldwide (Wagenhofer 2003).…”

Towards an XBRL-Enabled Corporate Governance Reporting Taxonomy: An Empirical Study of NYSE-Listed Financial Institutions

“…However, longitudinal research on XBRL reveals that from a long-term perspective, the positive effects outbalance the negative (Efendi et al, 2011a).…”

“…According to Efendi, who analysed voluntary application of XBRL for a longer timeframe, there is a clear indication of a learning curve effect for XBRL filers (Efendi et al, 2011a), as their XBRL filings improve over time.…”

“…ο Improved market efficiency: Many authors conclude that XBRL has the potential to indirectly reduce information asymmetries on financial markets (Efendi et al, 2011a).…”

A comparative study of e-government XBRL implementations: The potential of improving information transparency and efficiency

“…Participation was rather limited. Less than 2% of the companies covered by SEC rules and mostly large ones joined the voluntary program (Efendi, Smith, & Wong, 2009). In mid 2008, the SEC considered a proposed mandatory rule and made the final decision to transition to the mandatory approach in December 2008.…”