Modernizing Financial Data Collection with XBRL

Powell, Linda F.; Boettcher, Andrew

doi:10.29173/iq759

Cited by 3 publications

(3 citation statements)

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“…This case study uses one of the most salient theories of information technology adoption which is the Rogers' innovation adoption process (Rogers 1983). The Rogers' innovation adoption process has been widely noted as one of the leading theories in information technology adoption in regulatory authorities (Mousa 2013;Brudney and Selden 1996;Bugler and Bretschneider 1993;Norris and Kraemer 1996).…”

Section: Theoretical Frameworkmentioning

confidence: 99%

“…Fourth, this study contributes to the literature by presenting the unrealized benefits and applications of technology in non-financial sustainability reporting. The study provides valuable insights about the relevance and challenges of technology to regulators, banking supervision authorities, and their stakeholders (Hannon and Trevithick 2006;Powell and Boettcher 2007;Chan et al 2008;Garbellotto 2009;Dalla Via 2020).…”

Section: Introductionmentioning

confidence: 99%

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A Futuristic View of Using XBRL Technology in Non-Financial Sustainability Reporting: The Case of the FDIC

Mousa

Ozili²

2022

JRFM

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The rapid use and development of information and communication technology capabilities in the public sector has revolutionized the mechanism that government agencies use to collect, process, and disseminate data. Electronic government is one of the strategic initiatives that many government agencies have considered adopting to offer efficient web-based services and operations. Although there have been efforts to examine the implementation process of technological innovations in financial and business reporting, many government agencies are about to face a bigger challenge in developing or adopting current technologies to assess their usefulness for non-financial sustainability reporting. The Extensible Business Reporting Language, XBRL, has been adopted by the U.S. Federal Deposit Insurance Corporation (FDIC) to process financial data in the quarterly call reports filed by banks. Using Rogers’ well-established theory of innovation adoption process, this paper discusses the FDIC’s XBRL implementation process and investigates the roles and experiences of the agency’s stakeholders. A case study research methodology, supported by semi-structured interviews, is used to explore each phase of the implementation process. The findings reveal that the process was facilitated by stakeholder engagement, technical support, and the agency’s strategic decision-making process. This paper contributes to the literature by examining the applications, benefits, and challenges of using XBRL technology to process non-financial sustainability data, which is still an under-researched area. Therefore, the implications for using the technology in non-financial reporting will be insightful for future regulatory adopters and their stakeholders including filer banks, software vendors, and various users of financial and non-financial information.

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Section: Theoretical Frameworkmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

A Futuristic View of Using XBRL Technology in Non-Financial Sustainability Reporting: The Case of the FDIC

Mousa

Ozili²

2022

JRFM

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“…Therefore, our research brings an updated viewpoint on the state of the software development industry as it played a pivotal role in developing Inline XBRL, which was not captured in Chang and Jarvenpaa's research. In addition, XBRL literature does not report the roles and experiences of the banking industry, which is another prominent non-regulatory stakeholder in the FDIC's XBRL implementation process (Hannon and Trevithick, 2006;Powell and Boettcher, 2007;Chan et al, 2008;Garbellotto, 2009). Federal Deposit Insurance Corporation Doolin and Troshani (2007) document the role of the stakeholders as paramount so that the implementation process is better informed by their experiences and insights.…”

Section: The Extensible Business Reporting Language Regulatory Literaturementioning

confidence: 99%

A case study of XBRL implementation and development at the Federal Deposit Insurance Corporation (FDIC)

Mousa

Pinsker

2020

QRAM

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Purpose The purpose of this paper is to examine the implementation and development of eXtensible Business Reporting Language (XBRL) at the Federal Deposit Insurance Corporation (FDIC). The investigation seeks to gauge the roles and experiences of the FDIC and its main stakeholders to determine their engagement in XBRL diffusion within their organizations. Design/methodology/approach This is an qualitative research approach that is driven by the use of an in-depth case study and supported by the use of semi-structured interviews. Findings The findings showcase the role played by the FDIC as the first US regulatory authority that implemented and developed Inline XBRL. In addition, the use of diffusion of innovation theory provides better understanding of each stakeholder’s issues, benefits and challenges based on their experience. Research limitations/implications The research does not examine the institutionalization of XBRL at the FDIC or its stakeholders. Therefore, future research could incorporate a different research design to capture the impact of the pressure resulting from the regulatory mandate. Practical implications The research offers practical insights into public information technology managers and policymakers at global government agencies which are either non-adopters of XBRL technology or current adopters and consider transitioning into Inline XBRL. Global stakeholders could learn from the US experience and develop better understanding of Inline XBRL applications and functionalities. Originality/value The originality of this research is driven by the FDIC’s experience as the first regulatory developer of Inline XBRL. As such, the case study is a best practice to future and current adopters who often navigate the nuisance of implementing new technologies and/or developing existing ones.

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Leveraging data for financial stability monitoring

Glasser

2013

J Bank Regul

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Modernizing Financial Data Collection with XBRL

Abstract: Modernizing Financial Data Collection with XBRL

Cited by 3 publications

References 1 publication

A Futuristic View of Using XBRL Technology in Non-Financial Sustainability Reporting: The Case of the FDIC

A Futuristic View of Using XBRL Technology in Non-Financial Sustainability Reporting: The Case of the FDIC

A case study of XBRL implementation and development at the Federal Deposit Insurance Corporation (FDIC)

Leveraging data for financial stability monitoring

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