The Pros and Cons of XBRL Adoption in Italy: A Field Study

Francesco Avallone (), Paola Ramassa () and Elisa Roncagliolo ()
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Francesco Avallone: University of Genoa
Paola Ramassa: University of Genoa
Elisa Roncagliolo: University of Genoa

A chapter in Strengthening Information and Control Systems, 2016, pp 157-170 from Springer

Abstract: Abstract Our study responds to the call for more field-based research on XBRL focusing on the effects of its adoption with regard to: (i) knowledge and actual direct use of XBRL; (ii) existing limitations and future necessary improvements; and (iii) actual costs and benefits. In pursuit of these objectives, we have carried out a descriptive study based on interviews with different actors involved in the financial communication process in Italy, where the XBRL filing of financial statements has been mandatory for unlisted companies since 2009. Results suggest that five years of adoption have not led to a widespread awareness of XBRL features and potential benefits among professionals. Moreover, interviews highlight that so far the XBRL mandatory adoption has not achieved an overall substantial impact on real practice yet, if we exclude some financial statement users (e.g. financial analysts). Our findings have relevant implications for regulators, users, and companies as well.

Keywords: XBRL; Information systems; Financial reporting; Field research (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:spr:lnichp:978-3-319-26488-2_12

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DOI: 10.1007/978-3-319-26488-2_12

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