Adopsi Extensible Business Reporting Language dan Asimetri Informasi
Abstract
The research objective is to verify the effect of the adoption of Extensible Business Reporting Language (XBRL) on information asymmetry in companies listed on the IDX. The sample was selected using a purposive sampling technique which was then analyzed using multiple linear regression. The research sample consisted of 329 companies with a total sample of 1,974 companies being observed. The results of this study show that the adoption of XBRL has a positive effect on information asymmetry. Firm size and turnover ratio control variables were found to have a negative effect on information asymmetry. The research results have implications for the gap in information distribution and technology acceptance between large and small investors. XBRL can help reduce data aggregation costs, but investors must then understand how to derive the informational benefits of new data. Therefore, investors must weigh the costs of data aggregation against the benefits when deciding whether to use new technologies that are voluntary or mandatory.
Keywords: Extensible Business Reporting Language; Information Asymmetry; Bid Ask Spread.
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References
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Birt, J. L., Muthusamy, K., & Bir, P. (2017). XBRL and the qualitative characteristics of useful financial information. Accounting Research Journal, 30(1), 107–126. https://doi.org/10.1108/ARJ-11-2014-0105
Blankespoor, E., Miller, B. P., White, H. D., Arif, S., Beneish, D., Core, J., Costello, A., Fischer, P., Hewitt, M., Lee, C., Maines, L., Miller, G., Minnis, M., Piotroski, J., Plumlee, M., Qu, T., Schrand, C., Shakespeare, C., Shroff, N., … Yohn, T. (2012). Initial Evidence on the Market Impact of the XBRL Mandate.
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Pinsker, R., & Li, S. (2008). Costs and benefits of XBRL adoption. Communications of the ACM, 51(3), 47–50. https://doi.org/10.1145/1325555.1325565
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Ruan, L., Liu, H., & Tsai, S. (2021). XBRL Adoption and Capital Market Information Efficiency. Journal of Global Information Management, 29(6). https://doi.org/10.4018/JGIM.20211101.oa35
Sukmadilaga, C., Sudrajat, Putra, D. M., Khasanah, U., Ferina, I. S., Sagara, Y., & Musaffi, A. M. (2019). Internet Financial Reporting Laporan Keuangan Berbasis Teknologi. Anugrah Utama Raharja.
Tohang, V., Limijaya, A., & Chitrahadi, M. (2020). An Analysis of The Impact of XBRL FIllings Towards Information Asymmetry in Indonesia. International Conference on Information Management Ang Technology (ICIMTech), 330–335.
Tzu-Yi F, Fengyi, L., Shih-Hsuan C, & Liang, K.-. (2016). Does XBRL Adoption Imporve Information Asymmetry? Evidence from Taiwan Public Companies. J Glob Econ, 4, 1. https://doi.org/10.4172/2375-4389.1000172
Vasarhelyi, M. A., Chan, D. Y., & Krahel, J. P. (2012). Consequences of XBRL Standardization on Financial Statement Data. Journal of Information Systems, 26(1), 155–167. https://doi.org/10.2308/isys-10258
Yoon, H., Zo, H., & Ciganek, A. P. (2011). Does XBRL adoption reduce information asymmetry? Journal of Business Research, 64(2), 157–163. https://doi.org/10.1016/j.jbusres.2010.01.008
Zamroni, M., & Aryani, Y. A. (2018). Initial Effects of Mandatory XBRL Adoption across the Indonesia Stock Exchange`s Financial Information Environment. Jurnal Keuangan Dan Perbankan, 22(2). https://doi.org/10.26905/jkdp.v22i2.2092
Zhou, J. (2020). Does One Size Fit All? Evidence on XBRL Adoption and 10-K Filing Lag. Accounting & Finance, 60(3), 3183–3213. https://doi.org/10.1111/ACFI.12444
Bai, Z., Sakaue, M., & Takeda, F. (2014). The Impact of XBRL Adoption on theInformation Environment: Evidence from Japan. The Japanese Accounting Review, 4(2014), 49–74. https://doi.org/10.11640/tjar.4.2014.0.
Birt, J. L., Muthusamy, K., & Bir, P. (2017). XBRL and the qualitative characteristics of useful financial information. Accounting Research Journal, 30(1), 107–126. https://doi.org/10.1108/ARJ-11-2014-0105
Blankespoor, E., Miller, B. P., White, H. D., Arif, S., Beneish, D., Core, J., Costello, A., Fischer, P., Hewitt, M., Lee, C., Maines, L., Miller, G., Minnis, M., Piotroski, J., Plumlee, M., Qu, T., Schrand, C., Shakespeare, C., Shroff, N., … Yohn, T. (2012). Initial Evidence on the Market Impact of the XBRL Mandate.
Boone, J. P. (1998). Oil and gas Reserve Value Disclosures and Bid-Ask Spreads. Journal of Accounting and Public Policy, 17(1), 55–84. https://doi.org/10.1016/S0278-4254(97)10005-9
Du, H., & Wu, K. (2018). XBRL Mandate and Timeliness of Financial Reporting: Do XBRL Filings Take Longer? Journal of Emerging Technologies in Accounting, 15(1), 57–75.
Fadli, Z., A W, J., Aryani, D., & Kholis, A. (2022). Impelementasi RI 4.0 Dengan Adopsi Extensible Business Reporting Language (XBRL) dan Pengaruhnya Terhadap Audit Reporting Lag di Bursa Efek Indonesia Tahun. Jurnal Riset Akuntansi Dan Bisnis, 22(1), 73–82. https://doi.org/10.30596%2F943682
Healy, P. N., & Palepu, K. G. (2001). Information Asymmetry, Corporate Disclosure, and the Capital Markets: A Review of the Empirical Disclosure Literature. Journal of Accounting & Economic, 31, 405-440. http://dx.doi.org/10.1016/S0165-4101(01)00018-0
Hodge, F. D., Kennedy, J. J., & Maines, L. A. (2004). Does Search-Facilitating Technology Improve the Transparency of Financial Reporting? The Accounting Review, 79(3), 687–703. https://doi.org/10.2308/accr.2004.79.3.687
Janvrin, D. J., Pinsker, R. E., & Mascha, M. (2011). XBRL, Excel or PDF? The Effects of Technology Choice on the Analysis of Financial Information. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.1740249
Jayani, E., Winata, J. A., & Harahap, K. (2020). The XBRL Technology and Market Efficiency In Banking Companies Listed on The Indonesia Stock Exchange (IDX). Journal of Community Research and Service, 4(1), 26. https://doi.org/10.24114/jcrs.v4i1.18530
Pinsker, R., & Li, S. (2008). Costs and benefits of XBRL adoption. Communications of the ACM, 51(3), 47–50. https://doi.org/10.1145/1325555.1325565
PT Bursa Efek Indonesia. (2020). https://www.idx.co.id/perusahaan-tercatat/xbrl/
Purnama Sari, D., & Anggelina Setiawan, M. (2021). Pengaruh Pengadopsian XBRL terhadap Asimetri Informasi dengan Corporate Governance sebagai Variabel Moderasi (Studi Empiris pada Perusahaan Manufaktur di Bursa Efek Indonesia Periode 2015-2019). In Jurnal Eksplorasi Akuntansi (Vol. 3, Issue 2). Online. http://jea.ppj.unp.ac.id/index.php/jea/index
Ra, C.-W., & Lee, H.-Y. (2018). XBRL Adoption, Information Asymmetry, Cost of Capital, and Reporting Lags. 10, 93–118. https://doi.org/10.4236/ib.2018.103006
Ruan, L., Liu, H., & Tsai, S. (2021). XBRL Adoption and Capital Market Information Efficiency. Journal of Global Information Management, 29(6). https://doi.org/10.4018/JGIM.20211101.oa35
Sukmadilaga, C., Sudrajat, Putra, D. M., Khasanah, U., Ferina, I. S., Sagara, Y., & Musaffi, A. M. (2019). Internet Financial Reporting Laporan Keuangan Berbasis Teknologi. Anugrah Utama Raharja.
Tohang, V., Limijaya, A., & Chitrahadi, M. (2020). An Analysis of The Impact of XBRL FIllings Towards Information Asymmetry in Indonesia. International Conference on Information Management Ang Technology (ICIMTech), 330–335.
Tzu-Yi F, Fengyi, L., Shih-Hsuan C, & Liang, K.-. (2016). Does XBRL Adoption Imporve Information Asymmetry? Evidence from Taiwan Public Companies. J Glob Econ, 4, 1. https://doi.org/10.4172/2375-4389.1000172
Vasarhelyi, M. A., Chan, D. Y., & Krahel, J. P. (2012). Consequences of XBRL Standardization on Financial Statement Data. Journal of Information Systems, 26(1), 155–167. https://doi.org/10.2308/isys-10258
Yoon, H., Zo, H., & Ciganek, A. P. (2011). Does XBRL adoption reduce information asymmetry? Journal of Business Research, 64(2), 157–163. https://doi.org/10.1016/j.jbusres.2010.01.008
Zamroni, M., & Aryani, Y. A. (2018). Initial Effects of Mandatory XBRL Adoption across the Indonesia Stock Exchange`s Financial Information Environment. Jurnal Keuangan Dan Perbankan, 22(2). https://doi.org/10.26905/jkdp.v22i2.2092
Zhou, J. (2020). Does One Size Fit All? Evidence on XBRL Adoption and 10-K Filing Lag. Accounting & Finance, 60(3), 3183–3213. https://doi.org/10.1111/ACFI.12444
Published
2023-07-30
How to Cite
JANANTI, Ni Wayan Ristiari; WIRAKUSUMA, Made Gede; SISDYANI, Eka Ardhani.
Adopsi Extensible Business Reporting Language dan Asimetri Informasi.
E-Jurnal Akuntansi, [S.l.], v. 33, n. 7, p. 1702-1715, july 2023.
ISSN 2302-8556.
Available at: <https://ojs.unud.ac.id/index.php/akuntansi/article/view/92033>. Date accessed: 29 apr. 2024.
doi: https://doi.org/10.24843/EJA.2023.v33.i07.p01.
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