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Investopedia explains 'Lady Godiva Accounting Principles - LGAP'
This buzzword was coined by financial analyst Rick Wayman after the Enron bankruptcy.
According to legend, Lady Godiva was a woman who rode a horse naked through Coventry, England, in the 11th century in order to get her husband, the Lord of Coventry, to lift the heavy taxes on his people. The idea of LGAP is that just as the Lady provided "full disclosure" to help her fellow citizens, corporations must do the same thing with their financial disclosures to maintain their credibility with investors.
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