| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w2659 |
| 来源ID | Working Paper 2659 |
| Tax Induced Trading: The Effect of the 1986 Tax Reform Act on Stock Market Activity | |
| Paul J. Bolster; Lawrence B. Lindsey; Andrew W. Mitrusi | |
| 发表日期 | 1988-07-01 |
| 出版年 | 1988 |
| 语种 | 英语 |
| 摘要 | The abolition of the favorable tax treatment of long term capital gains forced investors to reassess traditional year-end trading strategies used to manage tax liabilities. This study compares with year-end trading behavior in previous years with that observed at the end of 1986. Traditional strategies involve selling both short and long term losers and holding short and long term winners. Our results affirm previous findings concerning tax induced trading at year end. However, for 1986, we find that the anticipated tax code changes had a powerful effect on trading behavior. Compared to previous years, relative trading volume was considerably higher in December of 1986 for long term winners and lower for long term losers. Additional results indicate that traditional patterns of trading induced by short term capital gains and losses were also altered substantially in 1986. |
| 主题 | Macroeconomics |
| URL | https://www.nber.org/papers/w2659 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/559918 |
| 推荐引用方式 GB/T 7714 | Paul J. Bolster,Lawrence B. Lindsey,Andrew W. Mitrusi. Tax Induced Trading: The Effect of the 1986 Tax Reform Act on Stock Market Activity. 1988. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w2659.pdf（261KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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