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The impact of XBRL on information asymmetry:evidence from loan contracting 被引量:2
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作者 Dazhi Chong Hui Shi +2 位作者 Liuliu(Luna)Fu Hao Ji Gongjun Yan 《Journal of Management Analytics》 EI 2017年第2期145-158,共14页
This paper examines whether and how the adoption of eXtensible Business Reporting Language(XBRL)reduces information asymmetry in loan contracting.We hypothesize that the adoption of XBRL can enhance information dissem... This paper examines whether and how the adoption of eXtensible Business Reporting Language(XBRL)reduces information asymmetry in loan contracting.We hypothesize that the adoption of XBRL can enhance information dissemination and mitigate the information asymmetry problem between borrowers and lenders.Using a sample of 554 US bank loan contracts,we find that borrowers who adopt XBRL enjoy more favourable price and nonprice terms of bank loan contracts.Additional analyses indicate that the relations among XBRL adoption and bank loan price vary with loan structure.Overall,this research provides evidence that technology advancements such as XBRL reduce cost of bank loans by decreasing information asymmetry between borrowers and lenders. 展开更多
关键词 information asymmetry XBRL accounting information bank loan price
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