In the wake of global financial crisis, there is a pressing need for improving transparency and interoperability of the financials of public companies. XBRL and XBRL taxonomies have the potential of helping us accomplish this objective. In the U.S., the SEC has mandated that all publicly listed...

This study investigates whether XBRL filings of 10Ks and 10Qs possess incremental information content beyond current EDGAR filings in HTML format. The sample comprises of 342 voluntary XBRL filings from the period of 2005 to June 30, 2008. We document a significant market reaction on the day...

One key finding from the first year of implementing eXtensible Business Reporting Language is that getting it right is critical, since errors or noncompliance can trigger an amended filing and possibly damage a company's reputation. This article discusses the impacts of the SEC requiring the use...