XBRL Standards – Mean of Improving Capital Market Information Process

Abstract

This article studies in a systematic way, based on specialized research literature, the benefits of the XBRL standardized reporting of the financial-accounting statements and the impact of its use on the company’s relationship with the capital markets. XBRL digital reporting standards emerged as a necessity for the development of economic processes in global markets, realizing the informational link between companies and stakeholders, including investors, through information technology. The paper uses, as a foundation, the research based on the analysis of the specialized literature, highlighting the benefits of XBRL reporting within the information process of the capital markets: reducing the costs of acquiring, accessing, processing and analysing information. The responses of these markets were immediate, the analysed studies demonstrated as immediate effects of the standards implementation, the improvement of the company image among investors, the increase of the entities market value and the increase of the capital markets ensemble efficiency. Our study is primarily addressed to companies, in substantiating the decision regarding of these reporting standards implementation.