An Empirical Study of the Influence of XBRL Adoption on Information Asymmetry: Evidence from Jordan

This study investigates whether companies' XBRL filings achieve the promised advantage of reducing information symmetry in the Jordanian capital market. The impact of XBRL (as a data science language) implementation on information asymmetry in the stock market was investigated using student t-tests and multiple regression analysis. A total of 174 firms were studied during a two-year period, which included pre-XBRL (2020) and post-XBRL (2021). Firm size, stock price, and trading volume are all included as control variables in this study. the result demonstrates that the use of XBRL and information asymmetry have a negative relationship, implying that XBRL adoption could reduce information asymmetry in the Jordanian stock market. According to these results, the demand for the adoption of XBRL in the capital market is projected to rise, and governments should support the use of XBRL for company reporting, particularly in its early stages of development.