DOI: 10.5176/2251-1997_AF-010

Authors: Jianing Fang and Helisse Levine


Whether or not the global security market is efficient has been one of the hottest topics debated in recent years. The main purpose of this study is to discuss the current global development of XBRL for financial reporting and its effect on stock market efficiency. All basic concepts of the EMH and XBRL technology will be reviewed. Most importantly, we argue that XBRL and IDEA will help to improve both domestic and global market efficiency. It is suggested that The Logistic Indicator is a practical benchmarking barometer to monitor international market efficiency.

Keywords: efficient market hypothesis, EMH, the eXtensible Business Reporting Language, XBRL, Interactive Data Electronic Applications, IDEA

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