nach oben

Erschienen in:

2022 | OriginalPaper | Buchkapitel

Nexus of Digitalization, Social, and Governance Factors

verfasst von : Charumathi Balakrishnan, Habeebu Rahman

Erschienen in: Digitalization and the Future of Financial Services

Verlag: Springer International Publishing

Einloggen

Aktivieren Sie unsere intelligente Suche, um passende Fachinhalte oder Patente zu finden.

search-config

KI-gestützte Suche

Aus

Abstract

Accounting has become increasingly multifaceted in recent years, and accounting information must shift from the past to the future due to rapid changes in technology. The impact of digital technology on all aspects of business is reshaping the way of doing business across industries. The majority of global economic output will be digital and digital innovations will be critical in achieving the Sustainable Development Goals (SDGs). Digital transformation of society is required to evolve and adapt to the shift. Application of Extensible Business Reporting Language (XBRL) is considered one of the significant steps toward digitalization of accounting and reporting. Digital corporate reporting needs substantial modifications to the corporate information architecture. XBRL-based digital corporate reporting will save capital expenditures, enhance analyst forecast accuracy, and boost analyst following. The XBRL taxonomy for International Sustainability Standards Board (ISSB) standards will be developed, making digital Environmental, Social and Governance (ESG) disclosure reporting easier for issuers, and data aggregation and analytics easier for investors. Digital corporate sustainability reporting has a broader implication for the reporting organizations, regulators, and users of the information.

Sie haben noch keine Lizenz? Dann Informieren Sie sich jetzt über unsere Produkte:

Springer Professional "Wirtschaft+Technik"

Online-Abonnement

Mit Springer Professional "Wirtschaft+Technik" erhalten Sie Zugriff auf:

über 102.000 Bücher
über 537 Zeitschriften

aus folgenden Fachgebieten:

Automobil + Motoren
Bauwesen + Immobilien
Business IT + Informatik
Elektrotechnik + Elektronik
Energie + Nachhaltigkeit
Finance + Banking
Management + Führung
Marketing + Vertrieb
Maschinenbau + Werkstoffe
Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

Jetzt informieren

Springer Professional "Technik"

Online-Abonnement

Mit Springer Professional "Technik" erhalten Sie Zugriff auf:

über 67.000 Bücher
über 390 Zeitschriften

aus folgenden Fachgebieten:

Automobil + Motoren
Bauwesen + Immobilien
Business IT + Informatik
Elektrotechnik + Elektronik
Energie + Nachhaltigkeit
Maschinenbau + Werkstoffe

Jetzt Wissensvorsprung sichern!

Jetzt informieren

Springer Professional "Wirtschaft"

Online-Abonnement

Mit Springer Professional "Wirtschaft" erhalten Sie Zugriff auf:

über 67.000 Bücher
über 340 Zeitschriften

aus folgenden Fachgebieten:

Bauwesen + Immobilien
Business IT + Informatik
Finance + Banking
Management + Führung
Marketing + Vertrieb
Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

Jetzt informieren

Vorheriges Kapitel Role of Digital Financial Inclusion in Promoting Economic Growth and Freedom

Nächstes Kapitel Risk of Digitalization and Financial Freedom

Arnold, V., Bedard, J. C., Phillips, J. R., & Sutton, S. G. (2012). The impact of tagging qualitative financial information on investor decision making: Implications for XBRL. International Journal of Accounting Information Systems, 13(1), 2–20. https://doi.org/10.1016/j.accinf.2011.12.002CrossRef

Bagnoli, M., & Watts, S. G. (2007). Financial reporting and supplemental voluntary disclosures. Journal of Accounting Research, 45(5), 885–913. https://doi.org/10.1111/j.1475-679x.2007.00258.xCrossRef

Baldwin, A. A., & Trinkle, B. S. (2011). The impact of XBRL: A Delphi investigation. The International Journal of Digital Accounting Research, 11. https://doi.org/10.4192/1577-8517-v11_1

Bebbington, J., & Thy, C. (1999). Compulsory environmental reporting in Denmark: An evaluation. Social and Environmental Accountability Journal, 19(2), 2–4. https://doi.org/10.1080/0969160x.1999.9651612CrossRef

Bhattacharya, N., Cho, Y. J., & Kim, J. B. (2018). Leveling the playing Field between large and small institutions: Evidence from the SEC’s XBRL mandate. The Accounting Review, 93(5), 51–71. https://doi.org/10.2308/accr-52000CrossRef

Birt, J. L., Muthusamy, K., & Bir, P. (2017). XBRL and the qualitative characteristics of useful financial information. Accounting Research Journal, 30(01), 107–126. https://doi.org/10.1108/arj-11-2014-0105CrossRef

Blankespoor, E., Miller, B. P., & White, H. D. (2012). Initial evidence on the market impact of the XBRL mandate. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.1809822

Chen, G., Kim, J., Lim, J., & Zhou, J. (2017). XBRL adoption and bank loan contracting: Early evidence. Journal of Information Systems, 32(2), 47–69. https://doi.org/10.2308/isys-51688CrossRef

Cockcroft, S., & Russell, M. (2018). Big data opportunities for accounting and finance practice and research. Australian Accounting Review, 28(3), 323–333. https://doi.org/10.1111/auar.12218CrossRef

Cormier, D., Dufour, D., Luu, P., Teller, P., & Teller, R. (2018). The relevance of XBRL voluntary disclosure for stock market valuation: The role of corporate governance. Canadian Journal of Administrative Sciences/Revue Canadienne des Sciences de l’Administration, 36(1), 113–127. https://doi.org/10.1002/cjas.1483CrossRef

De Villiers, C., Hsiao, P. K., & Maroun, W. (2017). Developing a conceptual model of influences around integrated reporting, new insights and directions for future research. Meditari Accountancy Research, 25(4), 450–460. https://doi.org/10.1108/medar-07-2017-0183CrossRef

De Villiers, C., Rinaldi, L., & Unerman, J. (2014). Integrated reporting: Insights, gaps and an agenda for future research. Accounting, Auditing & Accountability Journal, 27(7), 1042–1067. https://doi.org/10.1108/aaaj-06-2014-1736CrossRef

Debreceny, R., Farewell, S., Piechocki, M., Felden, C., & Gräning, A. (2010). Does it add up? Early evidence on the data quality of XBRL filings to the SEC. Journal of Accounting and Public Policy, 29(3), 296–306. https://doi.org/10.1016/j.jaccpubpol.2010.04.001CrossRef

Doolin, B., & Troshani, I. (2004). XBRL: A research note. Qualitative Research in Accounting & Management, 1(2), 93–104. https://doi.org/10.1108/11766090410813373CrossRef

Efendi, J., Park, J. D., & Smith, L. M. (2014). Do XBRL filings enhance informational efficiency? Early evidence from post-earnings announcement drift. Journal of Business Research, 67(6), 1099–1105. https://doi.org/10.1016/j.jbusres.2013.05.051CrossRef

Farneti, F., & Siboni, B. (2011). An analysis of the Italian governmental guidelines and of the local governments’ practices for social reports. Sustainability Accounting, Management and Policy Journal, 2(1), 101–125. https://doi.org/10.1108/20408021111162146CrossRef

Flower, J. (2015). The international integrated reporting council: A story of failure. Critical Perspectives on Accounting, 27, 1–17. https://doi.org/10.1016/j.cpa.2014.07.002CrossRef

Frost, C. A. (2007). Credit rating agencies in capital markets: A review of research evidence on selected criticisms of the agencies. Journal of Accounting, Auditing & Finance, 22(3), 469–492. https://doi.org/10.1177/0148558x0702200306CrossRef

Gepp, A., Linnenluecke, M. K., O’Neill, T. J., & Smith, T. (2018). Big data techniques in auditing research and practice: Current trends and future opportunities. Journal of Accounting Literature, 40, 102–115. https://doi.org/10.1016/j.acclit.2017.05.003CrossRef

Ghani, E. K., Laswad, F., & Tooley, S. (2011). Functional fixation: Experimental evidence on the presentation of financial information through different digital formats. The British Accounting Review, 43(3), 186–199. https://doi.org/10.1016/j.bar.2011.06.004CrossRef

Goswami, P., Mukherjee, A., Maiti, M., Tyagi, S. K., & Yang, L. (2022). A neural-network-Based optimal resource allocation method for secure IIoT network. IEEE Internet of Things Journal, 9(4), 2538–2544. https://doi.org/10.1109/jiot.2021.3084636CrossRef

Gray, R., Owen, D. and Adams, C. (1996) Accounting and accountability. Changes and Challenges in Corporate Social Reporting and Environmental Reporting. Prentice-Hall, Hemel Hempstead.

Gray, R. (2006). Social, environmental and sustainability reporting and organisational value creation? Accounting, Auditing & Accountability Journal, 19(6), 793–819. https://doi.org/10.1108/09513570610709872CrossRef

Guilloux, V., Locke, J., & Lowe, A. (2013). Digital business reporting standards: Mapping the battle in France. European Journal of Information Systems, 22(3), 257–277. https://doi.org/10.1057/ejis.2012.5CrossRef

Guthrie, J., Manes-Rossi, F., & Orelli, R. L. (2017). Integrated reporting and integrated thinking in Italian public sector organisations. Meditari Accountancy Research, 25(4), 553–573. https://doi.org/10.1108/medar-06-2017-0155CrossRef

Hao, L., Zhang, J. H., & Fang, J. B. (2014). Does voluntary adoption of XBRL reduce cost of equity capital? International Journal of Accounting and Information Management, 22(2), 86–102. https://doi.org/10.1108/ijaim-11-2012-0071CrossRef

Higgins, C., Stubbs, W., & Love, T. (2014). Walking the talk(s): Organisational narratives of integrated reporting. Accounting, Auditing & Accountability Journal, 27(7), 1090–1119. https://doi.org/10.1108/aaaj-04-2013-1303CrossRef

Hodge, F. D., Kennedy, J. J., & Maines, L. A. (2004). Does search-facilitating technology improve the transparency of financial reporting? The Accounting Review, 79(3), 687–703. https://doi.org/10.2308/accr.2004.79.3.687CrossRef

IFRS Foundation. (2021). IFRS Foundation announces international sustainability standards board, consolidation with CDSB and VRF, and publication of prototype disclosure requirements. https://www.ifrs.org/. https://www.ifrs.org/news-and-events/news/2021/11/ifrs-foundation-announces-issb-consolidation-with-cdsb-vrf-publication-of-prototypes/

Jensen, J. C., & Berg, N. (2011). Determinants of traditional sustainability reporting versus integrated reporting. An institutionalist approach. Business Strategy and the Environment, 21(5), 299–316. https://doi.org/10.1002/bse.740CrossRef

Kim, J., Li, B., & Liu, Z. (2019). Information-processing costs and breadth of ownership. Contemporary Accounting Research, 36(4), 2408–2436. https://doi.org/10.1111/1911-3846.12451CrossRef

La Torre, M., Sabelfeld, S., Blomkvist, M., Tarquinio, L., & Dumay, J. (2018). Harmonising non-financial reporting regulation in Europe. Meditari Accountancy Research, 26(4), 598–621. https://doi.org/10.1108/medar-02-2018-0290CrossRef

Larrinaga, C., Carrasco, F., Correa, C., Llena, F., & Moneva, J. (2002). Accountability and accounting regulation: The case of the Spanish environmental disclosure standard. European Accounting Review, 11(4), 723–740. https://doi.org/10.1080/0963818022000001000CrossRef

Li, B., Liu, Z., Qiang, W., & Zhang, B. (2020). The impact of XBRL adoption on local bias: Evidence from mandated U.S. filers. Journal of Accounting and Public Policy, 39(6), 106767. https://doi.org/10.1016/j.jaccpubpol.2020.106767CrossRef

Liu, C., Yao, L. J., Sia, C. L., & Wei, K. K. (2013). The impact of early XBRL adoption on analysts’ forecast accuracy—empirical evidence from China. Electronic Markets, 24(1), 47–55. https://doi.org/10.1007/s12525-013-0132-8CrossRef

Locke, J., Lowe, A., & Lymer, A. (2013). Interactive data and retail investor decision-making: An experimental study. Accounting & Finance, 55(1), 213–240. https://doi.org/10.1111/acfi.12048CrossRef

Locke, J., Rowbottom, N., & Troshani, I. (2018). Sites of translation in digital reporting. Accounting, Auditing & Accountability Journal, 31(7), 2006–2030. https://doi.org/10.1108/aaaj-07-2017-3005CrossRef

Lodhia, S. K., & Sharma, U. (2019). Sustainability accounting and reporting: Recent perspectives and an agenda for further research. Pacific Accounting Review, 31(3), 309–312. https://doi.org/10.1108/par-02-2019-121CrossRef

Maiti, M. (2021). Is ESG the succeeding risk factor? Journal of Sustainable Finance & Investment, 11(3), 199–213. https://doi.org/10.1080/20430795.2020.1723380CrossRef

Maiti, M., Kotliarov, I., & Lipatnikov, V. (2021a). A future triple entry accounting framework using blockchain technology. Blockchain: Research and Applications, 2(4), 100037. https://doi.org/10.1016/j.bcra.2021.100037CrossRef

Maiti, M., Vuković, D., Mukherjee, A., Paikarao, P. D., & Yadav, J. K. (2021b). Advanced data integration in banking, financial, and insurance software in the age of COVID -19. Software: Practice and Experience. https://doi.org/10.1002/spe.3018.

Manman, L., Goswami, P., Mukherjee, P., Mukherjee, A., Yang, L., Ghosh, U., Menon, V. G., Qi, Y., & Nkenyereye, L. (2021). Distributed artificial intelligence empowered sustainable cognitive radio sensor networks: A smart city on-demand perspective. Sustainable Cities and Society, 75, 103265. https://doi.org/10.1016/j.scs.2021.103265CrossRef

Marrone, M., & Hazelton, J. (2019). The disruptive and transformative potential of new technologies for accounting, accountants and accountability. Meditari Accountancy Research, 27(5), 677–694. https://doi.org/10.1108/medar-06-2019-0508CrossRef

Martin-Sardesai, A., & Guthrie, J. (2019). Social report innovation: Evidence from a major Italian bank 2007-2012. Meditari Accountancy Research, 28(1), 72–88. https://doi.org/10.1108/medar-10-2018-0383CrossRef

Massa, L., Farneti, F., & Scappini, B. (2015). Developing a sustainability report in a small to medium enterprise: Process and consequences. Meditari Accountancy Research, 23(1), 62–91. https://doi.org/10.1108/medar-02-2014-0030CrossRef

Nambisan, S., Lyytinen, K., Majchrzak, A., & Song, M. (2017). Digital innovation management: Reinventing innovation management research in a digital world. MIS Quarterly, 41(1), 223–238. https://doi.org/10.25300/misq/2017/41:1.03CrossRef

Perdana, A., Robb, A., & Rohde, F. (2014). An integrative review and synthesis of XBRL research in academic journals. Journal of Information Systems, 29(1), 115–153. https://doi.org/10.2308/isys-50884CrossRef

Rinaldi, L., Unerman, J., & De Villiers, C. (2018). Evaluating the integrated reporting journey: Insights, gaps and agendas for future research. Accounting, Auditing & Accountability Journal, 31(5), 1294–1318. https://doi.org/10.1108/aaaj-04-2018-3446CrossRef

Stubbs, W., & Higgins, C. (2015). Stakeholders’ perspectives on the role of regulatory reform in integrated reporting. Journal of Business Ethics, 147(3), 489–508. https://doi.org/10.1007/s10551-015-2954-0CrossRef

Stubbs, W., Higgins, C., & Milne, M. (2012). Why do companies not produce sustainability reports? Business Strategy and the Environment, 22(7), 456–470. https://doi.org/10.1002/bse.1756CrossRef

Valentinetti, D., & Rea, M. A. (2013). XBRL for financial reporting: Evidence on Italian GAAP versus IFRS. Accounting Perspectives, 12(3), 237–259. https://doi.org/10.1111/1911-3838.12008CrossRef

Zhang, X. (2011). Information relevance, reliability and disclosure. Review of Accounting Studies, 17(1), 189–226. https://doi.org/10.1007/s11142-011-9170-7CrossRef

Titel: Nexus of Digitalization, Social, and Governance Factors
verfasst von: Charumathi Balakrishnan
Habeebu Rahman
Verlag: Springer International Publishing
Buch: Digitalization and the Future of Financial Services
Print ISBN: 978-3-031-11544-8

Electronic ISBN: 978-3-031-11545-5

Copyright-Jahr: 2022
DOI: https://doi.org/10.1007/978-3-031-11545-5_10

Springer Professional

Abstract

Bitte loggen Sie sich ein, um Zugang zu Ihrer Lizenz zu erhalten.

Sie haben noch keine Lizenz? Dann Informieren Sie sich jetzt über unsere Produkte:

Springer Professional "Wirtschaft+Technik"

Springer Professional "Technik"

Springer Professional "Wirtschaft"