The foundation for the GIPS standards was first established in 1987 with the creation of the AIMR
Performance Presentation Standards (AIMR-PPS), voluntary performance guidelines for the North American investment management industry.
rankings tend to include larger firms because those firms are more likely to be followed by analysts.
Based on the industry-adjusted AIMR
rankings on firms' disclosure quality, I find positive and significant associations between disclosure rankings and stock returns and market valuation.
Research Foundation of the Association for Investment Management and Research (AIMR
One the other hand, professional institutions, such as American Institute of Chartered Public Accountants (AICPA) and Association of Investment Management and Research (AIMR
), encourage corporations to disclose information about their strategic plans, business opportunities, risks, as well as process and operations management.
Kao, 'Corporate Bond Rating Drift: An Examination of Rating Agency Credit Quality Changes', Charlottesville, VA, AIMR
In its 1993 position paper, the Association for Investment Management and Research (AIMR
) emphasized that "segment data is vital, essential, fundamental, indispensable, and integral to the investment analysis process" and "without desegregation, there is no sensible way to predict the overall amounts, timing, or risks of a complete enterprise's future cash flows.
Ohlson (1995) Botosan Cost of equity They used a proxy for 1986 to and capital based on disclosure (AIMR
1996 Plumlee the dividend scores) and control (2002 discount model variables (market beta and firm size).
Professional accreditations: CPA; member of the Association for Investment Management and Research (AIMR
), the New York Society of Security Analysts (NYSSA), and the American Institute of Certified Public Accountants (AICPA)
The Research Foundation of Association for Investment Management and Research (AIMR