eXtensible Business Reporting Language: A Review and Directions for Future Research
67 Pages Posted:
Date Written: May 7, 2020
This study seeks to advance research related to eXtensible Business Reporting Language (XBRL). XBRL is an open standard for reporting structured financial information which enables the efficient gathering of data and automated comparison of financial information over time and across firms. To encourage research using XBRL we describe the unparalleled richness of XBRL data and sources from which it can be obtained. We follow with a review of the literature, beginning with research examining the adoption of XBRL and the use of the data by capital market participants. Next, we discuss data quality concerns that may impact the use of XBRL data, followed by a discussion of how auditors can use XBRL data and their potential role in the assurance of the data. We then present burgeoning literature that uses meta and underlying XBRL data to examine different financial statement characteristics and disclosure properties. Based on the review of the literature, we identify topics with the greatest potential for future research. Overall, we strongly believe that using and investigating XBRL presents ample research opportunities.
Data Availability: Data are available from http://www.xbrlresearch.com.
Keywords: XBRL, eXtensible Business Reporting Language, assurance, interactive data, structured data, textual analysis, literature review
JEL Classification: M40, M41, M42, M48, C55, G18
Suggested Citation: Suggested Citation