Download this Paper Open PDF in Browser

Economic Consequences of Internet Financial Reporting

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

18 Pages Posted: 6 Jun 2004  

Alfred Wagenhofer

University of Graz

Abstract

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.

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

JEL Classification: M41, O33, G18

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

Alfred Wagenhofer (Contact Author)

University of Graz ( email )

Austria
+43 316 380 3500 (Phone)
+43 316 380 9565 (Fax)

Paper statistics

Downloads
1,405
Rank
10,304
Abstract Views
5,070