The Relevance of XBRL Voluntary Disclosure for Stock Market Valuation: The Role of Corporate Governance

被引：17

作者：

Cormier, Denis ^{[1
]}

Dufour, Dominique ^{[2
]}

Luu, Philippe ^{[2
]}

Teller, Pierre ^{[2
]}

Teller, Robert ^{[2
]}

机构：

[1] ESG UQAM, POB 8888, Montreal, PQ H3C 3P8, Canada

[2] Univ Nice Sophia Antipolis, GRMIAE Nice, Nice, France

来源：

CANADIAN JOURNAL OF ADMINISTRATIVE SCIENCES-REVUE CANADIENNE DES SCIENCES DE L ADMINISTRATION | 2019年 / 36卷 / 01期

关键词：

financial analysts; corporate governance; value relevance; voluntary disclosure; XBRL; EARNINGS MANAGEMENT; INFORMATION ASYMMETRY; IMPACT; ADOPTION; BOARD; TRANSPARENCY; ASSOCIATION; FILINGS;

D O I：

10.1002/cjas.1483

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

The aim of this paper is to investigate the relevance for stock market pricing of accounting earnings of voluntary disclosures in XBRL files considering the quality of corporate governance. Results are the following. It appears that XBRL extensions attract financial analysts. Good governance is positively associated with voluntary XBRL extensions. We observe that XBRL extensions enhance the positive relationship between accounting earnings and stock price. However, this positive association is reduced for firms with good governance, suggesting a substitution effect between XBRL extensions and corporate governance. Finally, it appears that XBRL extensions would strategically be related to earnings quality. This research highlights the importance to consider governance when assessing the value relevance of XBRL disclosures for stock market pricing.

引用

页码：113 / 127

页数：15

共 66 条

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