The Timeliness of XBRL Filings: An Empirical Examination

Abstract

ABSTRACTThis study examines the timeliness of XBRL data filings. To be timely, the XBRL data must be filed concurrently with the 10-K filing. Using a matched sample of non-timely (NT) and timely XBRL filers over the period 2009–2016, we investigate factors associated with the timeliness of XBRL. We find that NT XBRL filings are more likely when the filing is more complex and when the filer changes auditors. In contrast, using a service provider with more experience and a Big 4 auditor are positively associated with XBRL filing timeliness. NT XBRL filers also experience more negative market-adjusted stock returns compared to the timely XBRL filers. These findings may inform regulators about the implementation of XBRL. Regulators may want to consider these factors in future efforts to use technological advances to improve accessibility to information.JEL Classifications: M15; M48.