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Economic Consequences Of Internet Financial Reporting

Alfred Wagenhofer

Schmalenbach Business Review (sbr), 2003, vol. 55, issue 4, 262-279

Abstract: The paper considers two major economic effects created by the Internet for financial accounting and disclosure. First, the Internet changes the costs of information processes and with it the demand and supply of financial information in capital markets. Second, Internet financial reporting creates a demand for standardization, which has been taken up with the development of XBRL. It is argued that while XBRL is designed to standardize only the format of information, it will also standardize contents. Finally, the paper discusses the issue of assuring high quality Internet financial reporting.

Keywords: Financial Reporting; Disclosure; Internet; Standardization; XBRL; Auditing. (search for similar items in EconPapers)
JEL-codes: M41 O33 G18 (search for similar items in EconPapers)
Date: 2003
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Handle: RePEc:sbr:abstra:v:55:y:2003:i:4:262-279