XBRL分类标准、财务信息元素与上市公司自愿性财务信息披露研究——基于中国资本市场的经验证据

The Research of XBRL Taxonomy, Financial Information Elements and Listed Companies' Voluntary Financial Information Disclosure——the Evidence from Chinese Stock Market

本文从XBRL分类标准与财务信息元素结构视角出发,重新构造衡量上市公司财务信息披露的测度指标,以此更细致地刻画上市公司信息披露行为,并探究影响上市公司财务信息披露行为的主要因素。研究结果发现,上市公司财务信息披露行为主要受到公司信息不对称程度,公司经营风险,股权集中度,行业竞争度以及产权性质等因素的影响,而机构投资者对于上市公司财务信息披露行为的影响没有得到有效的证据支持。

We construct a new index to measure the detail of financial information disclosure based on the XBRL taxonomy and the structure of Financial Information Elements, thus investigating and testing the determinants of the listed companies＇ financial information disclosure behavior. Results indicate that the content of information disclosure is largely driven by the degree of asymmetric information, the company＇s business risk pressure, equity concentration, the degree of competition in the industry as well as the nature of property rights, while the influence of institutional investors is not significant.