Exploring the Impact of Adoption of a New Global Paradigm of Business Financial Reporting on enhancing Financial Market: An Empirical Study, Prof Khalid Alharbi, Dr Ibtissem Missaoui, Arshi Naim
Prof Khalid M. Alharbi
College of Business Administration (Yanbu), Accounting Department
Taibah University
Saudi Arabia
ORCID: 0000-0001-6820-530X
Dr Ibtissem Missaoui
Associate Professor
Higher institute of management of Sousse
Tunisia
ORCID:0000-0002-1548-9094
Arshi Naim
Professor in Business Management
European Global Institute of Innovation and Technology
Malta
ORCID:0000-0003-1325-6964
Type of Paper: Research
Purpose: The purpose of this study aims to empirically investigate the impact of integrating eXtensible Business Reporting Language (XBRL) as a sustainable and standardized financial reporting framework on the development and efficiency of global financial markets.
Design/methodology/approach: The study analyzes financial data from 18 countries spanning from 2000 to 2022 to understand the effects of XBRL technology on financial reporting and market dynamics.
Findings: the results indicate that the integration of XBRL has a statistically significant and positive effect on the financial market progress. The adoption of XBRL improves the quality of information, reduces information asymmetry and enhances overall conditions of markets, including liquidity and investor participation.
Research limitations/implications: While this research provides valuable insights into the advantages of XBRL, further research could explore other variables influencing financial market development and the specific mechanisms through which XBRL affects market performance.
Originality/value: This research contributes to the existing body of knowledge by demonstrating the importance of XBRL-formatted financial information, thereby enhancing investor understanding and facilitating successful market integration.
Keywords: Digital Information; Business Financial Reporting; Disclosure and Transparency; XBRL Technology; Financial Market Development; Strategic innovation practices; Informational Environment.
Citation:Alharbi, K. M., Missaoui, I., and Naim, A. (2026).Exploring the Impact of Adoption of a New Global Paradigm of Business Financial Reporting on enhancing Financial Market: An Empirical Study. World Journal of Entrepreneurship, Management and Sustainable Development, Vol. 22, Nos 1-2, pp. xx-xx.