Effects of Capital Gains Taxation on Life-Cycle Investment and Portfolio Management

We examine the impact of capital income taxation, both accrual forms of taxation and taxation of realized capital gains, on total savings and the demand for corporate financial instruments. We find that investors may hold both debt and equity in the face of effective collection of capital gains taxa...

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Veröffentlicht in:	The Journal of finance (New York) 1987-07, Vol.42 (3), p.743-758
Hauptverfasser:	BALCER, YVES, JUDD, KENNETH L.
Format:	Artikel
Sprache:	eng
Schlagworte:	Capital gains Capital gains tax Capital gains taxes Capital structure Corporate income taxes Direct taxation Effective tax rate Equity Income taxes Investment Investors Portfolio management Tax benefits Taxation
Online-Zugang:	Volltext
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