Does one size fit all? Evidence on XBRL adoption and 10-K filing lag

摘要

This paper examines howXBRLadoption is associated with 10-K filing timeliness. Using a sample of 10-K filings from 2007 to 2016, we find that 10-K filing lag decreases for Tier 1, Tier 2 and Tier 3 accelerated filers following theXBRLmandate. For Tier 3 smaller reporting companies, however, filing lag increases significantly in the post-XBRLperiod. Results from a difference-in-differences specification as well as using an alternative measure of filing timeliness produce similar inferences. We then investigate factors associated with the delay. We find that 10-K filing lag increases withXBRLfiling complexity, whereas the deployment of a more experienced service provider can mitigate the lag. Overall, this study provides evidence thatXBRLmandate improves preparer efficiency for most firms; however, our finding that the effect for smaller reporting companies goes in the opposite direction leads to the question whetherXBRLcan be viewed as a one-size-fits-all solution to financial reporting.