Does the adoption of extensible business reporting language impact the quality of financial reporting? The mediating role of the e-disclosure system
Abstract
The study aimed to demonstrate the mediating role of the e-disclosure system (E-DS) in the relationship between the extensible business reporting language (XBRL) and the quality of financial reporting (FRQ), for the Jordanian companies listed at the Amman Stock Exchange (ASE). This study uses AMOS to perform structural equation modelling to analyze the data; survey data was gathered from 284 respondents working across various industries and sectors listed at the ASE; 229 usable responses were received. This study finds that XBRL is positively associated with the FRQ. Further, it is found that E-DS positively influences FRQ and plays a mediating role in the connection between XBRL and FRQ. The results of this study are expected to be of high quality regarding the preparation and presentation of financial statements by XBRL. Also, the study’s findings make original contributions to developing countries other than Jordan, which are expected to benefit.
Keyword : extensible business reporting language, quality of financial reporting, e-disclosure system, Jordan
How to Cite
Al Frijat, Y. S. (2024). Does the adoption of extensible business reporting language impact the quality of financial reporting? The mediating role of the e-disclosure system. Business: Theory and Practice, 25(2), 535–547. https://doi.org/10.3846/btp.2024.18652
This work is licensed under a Creative Commons Attribution 4.0 International License.
References
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Benbouali, K., & Benberi, M. A. (2018). The importance of introducing electronic accounting disclosure using the XBRL language in activating the Algerian Stock Market. Journal of Accounting, Finance, and Auditing Studies, 4(1), 40–58.
Borgi, H., & Tawiah, V. (2022). Determinants of eXtensible business reporting language adoption: An institutional perspective. International Journal of Accounting & Information Management, 30(3), 352–371. https://doi.org/10.1108/IJAIM-11-2021-0242
Cauter, K. (2011). The Influence of XBRL on the quality of disclosures [Masters thesis, Erasmus University Rotterdam].
Chakraborty, J. K., & Sarkar, S. (2021). Examining the impact of revised XBRL mandate on the performance of firms in India. SEDME (Small Enterprises Development, Management & Extension Journal): A worldwide window on MSME Studies, 48(4), 330–340. https://doi.org/10.1177/09708464211069446
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Doolin, B., & Troshani, I. (2004). XBRL: A research note. Qualitative Research in Accounting & Management, 1(2), 93–104. https://doi.org/10.1108/11766090410813373
Faccia, A., Manni, F., & Capitanio, F. (2021). Mandatory ESG reporting and XBRL taxonomies combination: ESG ratings and income statement, a sustainable value-added disclosure. Sustainability, 13(16), Article 8876. https://doi.org/10.3390/su13168876
Fornell, C., & Larcker, D. F. (1981). Evaluating structural equation models with unobservable variables and measurement error. Journal of Marketing Research, 18(1), 39–50. https://doi.org/10.1177/002224378101800104
Gandhi, S. (2010). XBRL and financial reporting taxonomy: A revolution in preparation, communication and analysis of electronic financial reports. Pearson.
Ghofar, A., & Saraswati, E. (2009). Problems in financial reporting: The analysis of quality of disclosure and the measurement system of the traditional accounting. SSRN. https://doi.org/10.2139/ssrn.1802916
Grant, H., & Conlon, J. (2006). EDGAR extraction system: An automated approach to analyze employee stock option disclosures. Journal Information System, 20(2), 119–142. https://doi.org/10.2308/jis.2006.20.2.119
Gunn, J. (2007). XBRL: Opportunities and challenges in enhancing financial reporting and assurance processes. Current Issues in Auditing, 1(1), A36–A43. https://doi.org/10.2308/ciia.2007.1.1.A36
Hair, J. F., Black, W. C., Babin, B. J., & Anderson, R. E. (2010). Multivariate data analysis (7th ed.). Pearson.
Henderson, C., Huerta, E., & Glandon, T. (2015). Standardizing the presentation of financial data: Does XBRL’s taxonomy affect the investment performance of nonprofessional investors? The International Journal of Digital Accounting Research, 15, 127–153. https://doi.org/10.4192/1577-8517-v15_5
Hentati, H., Maktouf, M., & Taktak, N. (2021). The behavioral intention to adopt XBRL in the accounting firms: Tunisian context. Journal of Accounting and Management Information Systems, 20(1), 132–153. https://doi.org/10.24818/jamis.2021.01006
Holland, J. (1999). Financial reporting private disclosure and the corporate governance role of financial institutions. Journal of Management & Governance, 3, 161–187. https://doi.org/10.1023/A:1009991609633
Hsieh, T., & Bedard, J. C. (2018). Impact of XBRL on voluntary adopters’ financial reporting quality and cost of equity capital. Journal of Emerging Technologies in Accounting, 15(2), 45–65. https://doi.org/10.2308/jeta-52235
Hu, L.-t., & Bentler, P. M. (1998). Fit indices in covariance structure modeling: Sensitivity to under parameterized model misspecification. Psychological Methods, 3(4), 424–453. https://doi.org/10.1037/1082-989X.3.4.424
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