Investigating the Impact of Implementing XBRL on the Financial Analyst's Behavior in Iran Using Structural Equations Modeling

Inadequate and inefficient provision of information in the last three decades has resulted in some problems in global financial markets. As a result, XBRL international standard preparation was proposed as a solution for financial reporting to associante with international markets. Because of the cost concerns of implementing this standard, it is necessary to investigate its effects on different parts of countries` financial system to choose the best performance scenario via cost-benefit analysis. This paper investigates the impact of implementing extensible business reporting language (XBRL) on the financial analysts` behavior in Iran, by using AMOS software for Structural Equation Modeling. We analyzed 140 financial Analysts responses that were gathered via a questionnaire and found that XBRL has positive effects on financial analysts` behaviors in the decision-making process, as follows: 1) Analysis behavior (78%), 2) search behavior (75%), 3) validation behavior (74%) and 4. behavioral biases (46%). Also the results of ANOVA show that analysts’ age and experience affecnts their decision making behaviors.