Interactive data and retail investor decision-making: an experimental study

Locke, Joanne, Lowe, Alan and Lymer, Andy 2015, Interactive data and retail investor decision-making: an experimental study, Accounting & finance, vol. 55, no. 1, pp. 213-240, doi: 10.1111/acfi.12048.

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Title Interactive data and retail investor decision-making: an experimental study
Author(s) Locke, JoanneORCID iD for Locke, Joanne
Lowe, Alan
Lymer, Andy
Journal name Accounting & finance
Volume number 55
Issue number 1
Start page 213
End page 240
Total pages 28
Publisher Wiley
Place of publication London, Eng
Publication date 2015-03
ISSN 0810-5391
Keyword(s) interactive data
Xtensible Business Reporting Language
investment decision making
financial reporting
Summary The results of an experimental study of retail investors' use of eXtensible Business Reporting Language tagged (interactive) data and PDF format for making investment decisions are reported. The main finding is that data format made no difference to participants' ability to locate and integrate information from statement footnotes to improve investment decisions. Interactive data were perceived by participants as quick and ‘accurate’, but it failed to facilitate the identification of the adjustment needed to make the ratios accurate for comparison. An important implication is that regulators and software designers should work to reduce user reliance on the comparability of ratios generated automatically using interactive data.
Language eng
DOI 10.1111/acfi.12048
Field of Research 150101 Accounting Theory and Standards
1501 Accounting, Auditing And Accountability
1502 Banking, Finance And Investment
Socio Economic Objective 900199 Financial Services not elsewhere classified
HERDC Research category C1.1 Refereed article in a scholarly journal
ERA Research output type C Journal article
Copyright notice ©2015, Wiley
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Document type: Journal Article
Collections: Faculty of Business and Law
Department of Accounting
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