Does Integrated Digital Reporting Discipline Managerial Obfuscation? Evidence from the SEC Inline XBRL Mandate
統合デジタル報告は経営者の難読化を抑制するか？SECインラインXBRL義務化の証拠 (AI 翻訳)
Mo Zhang, Jessica Yang
🤖 gxceed AI 要約
日本語
本研究は、SECのiXBRL義務化が財務報告の複雑性に与える影響を、2016-2022年の14,424社年データと段階的DIDで検証。iXBRL採用は報告複雑性を有意に低下させ、特に裁量的拡張タグの減少が寄与。財務危機企業では効果が限定的で、能力制約のある企業では複雑性が増加。市場効率性の向上とアナリストの規律効果の増幅も確認。
English
This study examines the impact of the SEC's iXBRL mandate on financial reporting complexity using 14,424 firm-year observations and a staggered DID design. iXBRL adoption significantly reduces reporting complexity, driven by a decline in discretionary extension tags. Financially distressed firms show limited reductions, while capacity-constrained firms paradoxically increase complexity. The study also finds enhanced market efficiency and amplified analyst disciplinary effects.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
日本ではSSBJ開示や有報のXBRL導入が進む中、デジタル開示基盤が報告の質と透明性に与える影響を示す本研究成果は、日本の開示制度設計や企業の開示戦略に示唆を与える。特に、機械可読性の向上が経営者の情報隠蔽を抑制するメカニズムは、日本の統合報告書やサステナビリティ開示の質向上に応用可能。
In the global GX context
This study provides global evidence on how digital disclosure infrastructure (iXBRL) reduces reporting complexity and improves market efficiency, relevant to ongoing digitalization of sustainability reporting under ISSB and CSRD. It highlights the disciplinary role of structured data and analysts, offering insights for regulators designing digital taxonomies for climate and ESG disclosures.
👥 読者別の含意
🔬研究者:Provides causal evidence on how digital reporting infrastructure affects disclosure complexity and market efficiency, relevant to disclosure research.
🏢実務担当者:Highlights the importance of structured data in reducing reporting complexity and enhancing transparency, useful for corporate disclosure teams.
🏛政策担当者:Informs regulators on the benefits of digital reporting mandates (e.g., iXBRL) for improving disclosure quality and market efficiency.
📄 Abstract（原文）
This study investigates how the digitalization of financial reporting infrastructures reshapes managerial disclosure strategies and organisational transparency. Focusing on the US SEC’s mandated transition to iXBRL, we examine how the integration of machine-readable structured data into primary financial statements altered the regime of visibility surrounding accounting information. Utilising a sample of 14,424 firm-year observations spanning fiscal years 2016–2022, we deploy a staggered difference-in-differences design and find that iXBRL adoption significantly reduces accounting reporting complexity. The effect is driven primarily by a decline in discretionary extension tags, which are commonly used for idiosyncratic reporting. This evidence suggests that the digital immediacy and enhanced detectability inherent in integrated data platforms discourage managers from exploiting structural complexity for information concealment. Furthermore, financially distressed firms exhibit only limited reductions in complexity, and those facing binding organisational capacity constraints paradoxically experience net increases in reporting complexity. Finally, we provide evidence of enhanced market efficiency through a reduction in post-filing return drift, confirming that integrated reporting architectures lower the cognitive and technical barriers for information users. Additionally, we demonstrate that iXBRL adoption materially strengthens the pre-existing disciplinary role of analyst in constraining reporting complexity, with the amplification effect most pronounced across high-discretion reporting margins.
🔗 Provenance — このレコードを発見したソース
- openaire https://doi.org/10.2139/ssrn.7029564first seen 2026-08-04 04:51:28
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gxceed は公開メタデータに基づく研究支援データセットです。要約・翻訳・解説は AI 支援で生成されています。 最終的な解釈・検証は利用者が原典資料に基づいて行うことを前提とします。