Economic Consequences Of Internet Financial Reporting
AbstractThe 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.
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Bibliographic InfoArticle provided by LMU Munich School of Management in its journal Schmalenbach Business Review.
Volume (Year): 55 (2003)
Issue (Month): 4 (October)
Financial Reporting; Disclosure; Internet; Standardization; XBRL; Auditing.;
Find related papers by JEL classification:
- M41 - Business Administration and Business Economics; Marketing; Accounting - - Accounting - - - Accounting
- O33 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
- G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
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