Use of the XBRL Language:

Abstract

Objective of the study: the general objective of this paper was to verify what the perceived benefits and difficulties are in using the XBRL language to communicate financial information to the market. Methodology: To achieve this general objective, we prepared a survey and we used descriptive and multivariate statistics to analyses the data. Originality: There are few articles that research the Brazilian reality about the adoption of the XBRL language. In addition to having respondents who are users and know the language, we asked about the perception of users and preparers about the benefits of financial information that had the characteristics of files in XBRL. Main results: It was concluded that the preparation of and interaction with XBRL files are not easy and the use of XBRL does not reduce file preparation errors. The costs of preparing XBRL files are no higher than for other file types. Thus, any possible adoption of the XBRL language in Brazil would not mean a significant cost increase for companies after the learning period. The perception of transparency in relation to the company increases, which can improve its image and contribute to a reduction in informational asymmetry. Theoretical contributions: The work corroborates the determinants of innovation adoption, according to TRA, TAM and Diffusion of Innovation (Rogers). In addition, it confirms the perception of benefits pointed out in the literature by users and preparers of financial information. Social / management contributions: The work contributes to the discussion of the adoption of practical aspects by regulatory bodies to increase the transparency of companies in Brazil.