本研究以XBRL可降低投資者的資訊處理成本、提升資訊透明度，進而提升外部監督效能之角度探討採用XBRL是否有效降低CEO超額薪酬。本研究樣本取自於有向SEC申報XBRL格式報導之美國上市公司，檢測實施XBRL前後對於CEO超額薪酬之變化，其實證結果顯示採用XBRL之後能夠降低CEO正超額薪酬之情形。然而本研究發現採用XBRL後對於CEO負超額薪酬的減輕並無效果。再者，本研究進一步分析並發現在代理問題較嚴重的公司，XBRL降低CEO正超額薪酬的效果更明顯。本研究顯示採用XBRL有助於降低投資者的資訊處理成本，提升市場外部監督力道，降低公司管理階層與投資者間的代理問題。

This study uses XBRL to reduce investor information processing cost, to improve the transparency of information, and to enhance the effectiveness of external oversight to discuss whether XBRL can effectively reduce CEO excess compensation. We use the companies reporting in the XBRL format from the SEC in the U.S. to examine the changes in CEO excess compensation before and after XBRL reporting. We find that XBRL reporting can reduce CEO excess compensation in the positive sample group. However, we find that XBRL reporting has no effect on the reduction of CEO excess compensation in the negative sample group. Furthermore, we also analyze and find that the effect of XBRL reporting is stronger in reducing CEO positive excess pay in companies with more serious agency problems. This study shows that the adoption of XBRL can help reduce investor information processing cost, enhance the effectiveness of external monitoring in the market, and reduce the agency problems between management and investors.

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