THE IMPACT OF EXTENSIBLE BUSINESS REPORTING LANGUAGE EDUCATION AND ADOPTION OF STOCK EXCHANGE DEVELOPMENT: A FOCUS ON NIGERIA
No Thumbnail Available
Date
Journal Title
Journal ISSN
Volume Title
Publisher
Abstract
Description
The growing need for widely available and easily accessible financial information in the
financial markets has prompted the necessity for the knowledge and adoption of Extensible
Business Reporting Language (XBRL) as the standard format for presenting financial reports
across the globe. The impact of an efficient information distribution system like the Extensible
Business Reporting Language (XBRL) could help protect creditors, make cross border relations
more secure and support the competitiveness of financial markets This study aims at
investigating the impact of the possible learning and adoption of Extensible Business Reporting
Language (XBRL) in the Nigerian Stock Exchange. The data used for this study were gathered
through the instruments of a questionnaire and secondary sources. One hundred and Fifty (150)
copies of a questionnaire were administered, out ofwhich one hundred and thirty-one (131) were
collated for analysis. To achieve the objectives of this study, three hypotheses were formulated
from the structure of research questions. Kruskal-Wallis and descriptive statistical tools were
used in testing these hypotheses. Findings show that environmental factors and problems in the
Nigerian Stock exchange will affect the learning and implementation of XBRL in the Stock
Exchange as well as the fact that certain infrastructure must be put in place before the
implementation of XBRL. Based on these findings, the study recommends that the Federal
government should announce and compel the educational awareness and adoption of XBRL as a
format for regulatory filing and financial reporting in the Nigerian Stock Exchange.
Keywords
HF5601 Accounting