Portfolio rebalancing behavior with operating losses and investment regulation
Firms should make every attempt to reduce their tax burden by, for instance, preferring higher-yield taxable investments when faced with operating losses and lower-yield tax-exempt investments otherwise. We examine in this paper whether there are impediments to rebalancing which result from a firm...
Main Authors: | , , |
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Format: | Article |
Language: | English |
Published: |
Elsevier Inc.
2019
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Subjects: | |
Online Access: | View Fulltext in Publisher |