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Book
Government Policy and Ownership of Financial Assets
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Year: 2011 Publisher: Cambridge, Mass. National Bureau of Economic Research

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Tax arbitrage with risk and effort aversion - swedish lottery bonds 1970 - 1990.
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Year: 2010 Publisher: London Centre For Economic Policy Research

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Do shareholders vote strategically? evidence on the advisory role of annual general meetings.
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Year: 2004 Publisher: London Centre For Economic Policy Research, Financial Economics. Discussion Paper Nr. 4192

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Investigation of the costly-arbitrage model of price formation around the ex-dividend day.
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Year: 2007 Publisher: London Centre For Economic Policy Research, Financial Economics. Discussion Paper Nr.6074. February 2007

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Ranking journals by concentration of author affiliation: thirty-five years of finance research.
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Year: 2006 Publisher: London Centre For Economic Policy Research, Financial Economics. July 2006

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Pre-auction inventory and bidding behavior - an analysis of canadian treasury auctions
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Year: 2014 Publisher: London Centre for economic policy research

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Digital
Government Policy and Ownership of Financial Assets
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Year: 2011 Publisher: Cambridge, Mass. National Bureau of Economic Research

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Since World War II, direct stock ownership by households across the globe has largely been replaced by indirect stock ownership by financial institutions. We argue that tax policy is the driving force. Using long time-series from eight countries, we show that the fraction of household ownership decreases with measures of the tax benefits of holding stocks inside tax-deferred plans. This finding is important for policy considerations on effective taxation and for financial economics research on the long-term effects of taxation on corporate finance and asset prices.


Book
The tax benefit of income smoothing.
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Year: 2011 Publisher: London Centre For Economic Policy Research

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Direct evidence of dividend tax clienteles.
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Year: 2006 Publisher: London Centre For Economic Policy Research, Financial Economics. Discussion Paper Nr.6005. December 2006

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Book
Government Policy and Ownership of Financial Assets
Authors: --- --- ---
Year: 2011 Publisher: Cambridge, Mass. National Bureau of Economic Research

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Abstract

Since World War II, direct stock ownership by households across the globe has largely been replaced by indirect stock ownership by financial institutions. We argue that tax policy is the driving force. Using long time-series from eight countries, we show that the fraction of household ownership decreases with measures of the tax benefits of holding stocks inside tax-deferred plans. This finding is important for policy considerations on effective taxation and for financial economics research on the long-term effects of taxation on corporate finance and asset prices.

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