XBRL Adoption, Information Asymmetry, Cost of Capital, and Reporting Lags

  title={XBRL Adoption, Information Asymmetry, Cost of Capital, and Reporting Lags},
  author={Che-Won Ra and Ho-Young Lee},
The voluntary and mandatory introduction of a new information technology, XBRL, in 2006 and 2007 by the Financial Supervisory Services of Korea has significantly affected capital markets, possibly through a reduction in the information asymmetry between firms and users of financial information. This study examines how changes in the information environment attributable to XBRL adoption affect the cost of capital and whether the adoption reduces reporting lags for both voluntary and mandatory… 

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