Journal of Financial Reporting and Accounting ( IF 3.3 ) Pub Date : 2021-01-22 , DOI: 10.1108/jfra-07-2020-0207 Wafa Sassi , Hakim Ben Othman , Khaled Hussainey
Purpose
The purpose of this paper is to examine the impact of the mandatory adoption of eXtensible Business Reporting Language (XBRL) on firm’s stock liquidity.
Design/methodology/approach
Using a random-effects model, this study examines the impact of the mandatory adoption of XBRL (ADOPXBRL) on firm’s stock liquidity of 980 companies pertaining to 13 countries for a period from 2000 to 2016.
Findings
This paper finds that the mandatory ADOPXBRL affects negatively and significatively Amihud’s (2002) illiquidity ratio. Therefore, mandatory XBRL adoption enhances the firm’s stock liquidity. In addition, this paper finds that the impact of the mandatory ADOPXBRL on firm’s stock liquidity is more pronounced in civil law countries than in common law countries.
Originality/value
This paper contributes to the literature on the advantage of XBRL especially for the civil law countries by examining the impact of the mandatory ADOPXBRL on firm’s stock liquidity.
中文翻译:
强制采用 XBRL 对公司股票流动性的影响:一项跨国研究
目的
本文旨在研究强制采用可扩展商业报告语言 (XBRL) 对公司股票流动性的影响。
设计/方法/方法
本研究使用随机效应模型检验了 2000 年至 2016 年期间强制采用 XBRL (ADOPXBRL) 对 13 个国家/地区的 980 家公司的股票流动性的影响。
发现
本文发现,强制性的 ADOPXBRL 对 Amihud (2002) 的非流动性比率产生了负面且显着的影响。因此,强制采用 XBRL 可以提高公司的股票流动性。此外,本文发现强制性ADOPXBRL对公司股票流动性的影响在大陆法系国家比在普通法系国家更为明显。
原创性/价值
本文通过检验强制性 ADOPXBRL 对公司股票流动性的影响,为 XBRL 的优势,特别是对大陆法系国家的文献做出贡献。