Research Article | OPEN ACCESS
Analysis the Impact of XBRL in China's Capital Market Using Methods of Empirical Research
Hongming Chen and Fengui Li
Changsha University of Science and Technology, Hunan, Changsha 410076, China
Research Journal of Applied Sciences, Engineering and Technology 2013 5:1521-1527
Received: June 28, 2012 | Accepted: August 28, 2012 | Published: February 11, 2013
Abstract
XBRL is a financial reporting language, which is based on XML. Since 2003 we have tried to use financial reporting based on XBRL for listed company disclosure in China. This study mainly stands on the perspective of small investors, using empirical research methods to investigate whether XBRL reduced the level of information asymmetry in China’s capital market or not and further explaining XBRL promotes the rational allocation of resources in China's capital market and provided a guarantee for China's capital market having a rapid and stable development. This study generalizes the significance of the application of XBRL in China capital market, while its challenges have also been summarized. The main significance of this study is finding more “deminders” for the universal application of XBRL in China.
Keywords:
Accounting information, capital markets, information asymmetry, small investors, XBRL,
Competing interests
The authors have no competing interests.
Open Access Policy
This article is distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution, and reproduction in any medium, provided you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license, and indicate if changes were made.
Copyright
The authors have no competing interests.
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ISSN (Online): 2040-7467
ISSN (Print): 2040-7459 |
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