本研究旨在探討XBRL的採用對盈餘資訊性的影響，而盈餘資訊性指的是現在的股價報酬所反映出未來盈餘資訊的多寡，例如未來盈餘反應係數（FERC）。本研究預期XBRL的實施使投資人得以更低的成本闡釋財務資訊並提供更佳的未來公司績效預測，因此公司的FERC會顯著的增加。本篇研究亦採用difference-in-difference的方法，將未採用XBRL的公司樣本做為控制組。我們預期本研究結果將協助SEC得以迅速地評估採用XBRL所帶來的利益。

This study provides the first empirical evidence that the informativeness of future earnings will be affected by adopting eXtensible Business Reporting Language (XBRL), which has been required by the Securities Exchange Commission (SEC) since January 30, 2009. Given that releasing XBRL-formatted financial reports is deemed to enhance the comparability of financial information, which is able to increase earnings informativeness measured by future earnings response coefficient (FERC). Using two groups of samples, 201 companies with 804 observations and 1,860 companies with 7,446 observations, for the fiscal years 2006, 2007, 2009 and 2010, we find that XBRL adoption does indeed improve the informativeness of financial information, which means current stock prices convey more information about future earnings after adopting XBRL.

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