Capital Gains Lock-In and Governance Choices
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Because of differences in accrued gains and investors' tax-sensitivity, capital gains "lock-in" varies across mutual funds even for the same stock at the same time. Using this variation, we show that tax lock-in affects funds' governance decisions. Higher tax lock-in decreases the likelihood a fund
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美国国家经济研究局创建时间:
2014-05-01



