Financial and governance characteristics of voluntary XBRL adopters in the United States

Callaghan, Joseph H.; Nehmer, Robert A.

doi:10.1057/jdg.2009.15

Cited by 41 publications

(30 citation statements)

References 7 publications

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“…Meanwhile Ragothaman (2011) finds no relationship between that quality of corporate governance and VFP participation. Callaghan and Nehmer (2009), on the other hand, find that VFP participants have lower governance ratings compared to those in the control group. Focusing on individual executive characteristics, Boritz et al (2014) find that company executive team information systems and financial reporting competencies affect whether a company participates in the VFP, and these competencies have a positive relation to the qualities of the voluntary XBRL reports.…”

Section: Overview Of Vfp Researchmentioning

confidence: 86%

Does the XBRL Reporting Format Provide Incremental Information Value? A Study Using XBRL Disclosures During the Voluntary Filing Program

Efendi

Park

Subramaniam

2016

Abacus

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This study investigates whether the eXtensible Business Reporting Language (XBRL) reporting format provides incremental information value beyond the same 10K/10Q filings previously provided in HTML format. Using a sample from the XBRL Voluntary Filing Program, we document a significant increase in stock price variance on the day when voluntary XBRL reports are filed. We find market response is stronger when more content is filed on the same day. To evaluate relative information value, we decompose the quarterly return variance for three primary news announcements related to earnings including earnings announcement, HTML filing, and XBRL filing. We find XBRL filings have larger relative information value than HTML filings. Our results indicate that the XBRL reporting format provides incremental information content.What we need is something that will give individuals faster access to better information that they can easily use and understand. We need to make searches for information easier. It should be easy to call up information about any company you choose. You should be able to download it and use it in the personal software of your choice. And you then should be able to easily analyze and compare the data with the same information from other companies. We want to make the numbers derived from financial statements vastly more accurate. And we want to allow companies to communicate with investors on a constant basis.

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Section: Overview Of Vfp Researchmentioning

confidence: 86%

Does the XBRL Reporting Format Provide Incremental Information Value? A Study Using XBRL Disclosures During the Voluntary Filing Program

Efendi

Park

Subramaniam

2016

Abacus

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“…Thus, corporate governance factors, liquidity, firm size, and better profitability are variables found to be significantly related to the XBRL voluntary adopters (Premuroso and Bhattacharya, 2008;Ragothaman, 2012;Boritz and Timoshenko, 2015). However, when analyzing the characteristics of the XBRL voluntary adopters, Callaghan and Nehmer (Callaghan and Nehmer, 2009) suggest that these are larger and visible companies seeking to improve their corporate governance appearance.…”

Section: Literature Reviewmentioning

confidence: 96%

Financial Reporting Practices of Italian SMEs: Why Do They Disclose More?

Panizzolo¹,

Fradeani²,

Metushi³

2017

IJDAR

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Abstract. From reporting periods ending on or after 31 December 2014, Italian unlisted companies filing their financial statements under the national GAAP have to deposit them to the Business Register in fully XBRL format. In particular, for companies submitting their financial statements in the abbreviated form, the mandatory taxonomy has offered the option to use in their notes also the tables of the standard one: this means that they can voluntarily provide more information than that normally required by the law. In this paper, we investigate this phenomenon focusing on its level and analyzing the variables explaining the reasons that push Italian SMEs to use, in their abbreviated financial statements, non-compulsory tables that are proper of the standard ones. Based on a large sample of 8,738 elements, we report surprising results: more than 80% of the abbreviated financial statements include at least one table proper of the standard ones, while on average they include seven. In addition, when analyzing the determinants of this phenomenon we find that the only relevant variable explaining the number of optional tables included in the abbreviated financial statements is the software used for preparing them.

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“…Second, our sample size of XBRL adopters (n= 102) is bigger than some of the earlier studies (for e.g. Premuroso, R. and S. Bhattacharya (2008) had a sample size of 20, Callaghan and Nehmer (2009) had 39 firms in their sample and Efendi et al (2009) examined 53 XBRL adopters). Third, we use OLS regression to examine the relationship between corporate governance rating and operating performance for voluntary XBRL adopters.…”

Section: Introductionmentioning

confidence: 92%

Voluntary XBRL Adopters and Firm Characteristics: An Empirical Analysis

Ragothaman¹

2012

IJDAR

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Some of the governance weaknesses stem from the information asymmetry between insiders and the investing public. One way to mitigate the information asymmetry problem is to enhance accounting disclosures through XBRL format. In this paper, we analyze financial characteristics of voluntary adopters of XBRL. We build a multivariate logistic regression model to examine the relationship between firm characteristics and voluntary XBRL adopters. The new results of this study indicate that plant intensity (political costs), PE ratio (growth), and inventory ratio (complexity) are useful in discriminating voluntary "XBRL adopters" from non-adopters. We also confirm prior results with respect to firm size and debt ratio. We also build a multiple regression model and use the Governance Score developed by Brown and Caylor (2006) to further investigate the relationship between corporate governance rating and operating performance for voluntary XBRL adopters. Our results indicate that current ratio (liquidity), size, and auditor type are associated with corporate governance rating for voluntary adopters of XBRL.

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Financial and governance characteristics of voluntary XBRL adopters in the United States

Cited by 41 publications

References 7 publications

Does the XBRL Reporting Format Provide Incremental Information Value? A Study Using XBRL Disclosures During the Voluntary Filing Program

Does the XBRL Reporting Format Provide Incremental Information Value? A Study Using XBRL Disclosures During the Voluntary Filing Program

Financial Reporting Practices of Italian SMEs: Why Do They Disclose More?

Voluntary XBRL Adopters and Firm Characteristics: An Empirical Analysis

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