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Economic Consequences of Internet Financial Reporting

Alfred Wagenhofer

University of Graz

Schmalenbach Business Review, Vol. 55, pp. 262-279, October 2003

The paper considers two major economic effects created by the Internet for financial accounting and disclosure. First, the Internet changes the costs of information processes and with it the demand and supply of financial information in capital markets. Second, Internet financial reporting creates a demand for standardization, which has been taken up with the development of XBRL. It is argued that while XBRL is designed to standardize only the format of information, it will also standardize contents. Finally, the paper discusses the issue of assuring high quality Internet financial reporting.

Number of Pages in PDF File: 18

Keywords: Financial Reporting, Disclosure, Internet, Standardization, XBRL, Auditing

JEL Classification: M41, O33, G18

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Date posted: June 6, 2004  

Suggested Citation

Wagenhofer, Alfred, Economic Consequences of Internet Financial Reporting. Schmalenbach Business Review, Vol. 55, pp. 262-279, October 2003. Available at SSRN: https://ssrn.com/abstract=555042

Contact Information

Alfred Wagenhofer (Contact Author)
University of Graz ( email )
+43 316 380 3500 (Phone)
+43 316 380 9565 (Fax)
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