The Effect of XBRL Adoption on Information Asymmetry and Information Efficiency

• Main Authors: Hui-Lin Huang, 黃薈霖
• Other Authors: 陳國泰
• Format: Others
• Language: zh-TW
• Published: 2013
• Online Access: http://ndltd.ncl.edu.tw/handle/85387905978778423427

碩士 === 國立臺灣大學 === 會計學研究所 === 101 === This study examines the effect of mandatory XBRL disclosure on information asymmetry and information efficiency. We investigate the stock prices and related information on annual report filing date in Taiwan stock market over the period 2007-2011. Our findings show a significant and negative association between XBRL adoption and information asymmetry. The result suggests that the adoption of XBRL may reduce information asymmetry in Taiwan stock market. On the other hand, we find significant abnormal returns around the filing date. Moreover, after the adoption of XBRL, we find more abnormal returns during the first five days of annual report filing date. The result indicates the adoption of XBRL increases information efficiency. Finally, based on our findings, we present our suggestions to government and future research.