Three Essays on Taxes and Asset Pricing
Unlike other costs of trading, capital gains taxes are not well understood. The tax cost of selling an asset includes the present value change in current and future tax liabilities caused by the sale. Investors paying a positive capital gains tax often face a negative tax cost of selling, thanks to...
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| Language: | English |
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2014
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| Online Access: | https://doi.org/10.7916/D8GM85GZ |