G2TT
来源类型Working Paper
规范类型报告
DOI10.3386/w9674
来源IDWorking Paper 9674
Diversification and the Taxation of Capital Gains and Losses
Richard J. Rendleman, Jr.; Douglas A. Shackelford
发表日期2003-05-12
出版年2003
语种英语
摘要Current U.S. law nets the total portfolio of realized capital gains and losses to compute capital gains taxes. Prior research, however, typically ignores the implication of this provision, i.e., the marginal tax rate for a specific gain or loss depends on the taxpayer's total portfolio of realized gains and losses. We find that these nettings introduce complexity into the relation between share values and capital gains taxes, creating an incentive to diversify. For firms with stock returns that are positively (negatively) correlated with those of the overall market, share values generally are decreasing (increasing) in the capital gains tax rate.
主题Public Economics ; Taxation ; Financial Economics ; Portfolio Selection and Asset Pricing
URLhttps://www.nber.org/papers/w9674
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/567298
推荐引用方式
GB/T 7714
Richard J. Rendleman, Jr.,Douglas A. Shackelford. Diversification and the Taxation of Capital Gains and Losses. 2003.
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
w9674.pdf(554KB)智库出版物 限制开放CC BY-NC-SA浏览
个性服务
推荐该条目
保存到收藏夹
导出为Endnote文件
谷歌学术
谷歌学术中相似的文章
[Richard J. Rendleman, Jr.]的文章
[Douglas A. Shackelford]的文章
百度学术
百度学术中相似的文章
[Richard J. Rendleman, Jr.]的文章
[Douglas A. Shackelford]的文章
必应学术
必应学术中相似的文章
[Richard J. Rendleman, Jr.]的文章
[Douglas A. Shackelford]的文章
相关权益政策
暂无数据
收藏/分享
文件名: w9674.pdf
格式: Adobe PDF
此文件暂不支持浏览

除非特别说明,本系统中所有内容都受版权保护,并保留所有权利。