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    政大機構典藏 > 商學院 > 會計學系 > 期刊論文 >  Item 140.119/24473
    Please use this identifier to cite or link to this item: http://nccur.lib.nccu.edu.tw/handle/140.119/24473

    Title: The Effect of the Expected Holding Period on the Market Reaction to a Decline in the Capital Gains Tax Rate
    Authors: Liang, Jia-Wen;Matsunaga, Steven R.;Morse, Dale
    Date: 2002-12
    Issue Date: 2009-01-13 15:28:13 (UTC+8)
    Abstract: We use the market reaction to capital gains tax rate reduction in the 1997 Tax Relief Act to investigate the market reaction to a change in investor-level tax rates. We find that the positive market reaction was lower for dividend-paying securities and securities with longer expected holding periods. Our results also support the hypothesis that a longer expected holding period reduces the impact of the dividend-paying status. These results are consistent with the tax capitalization model and suggest that the expected holding period is a significant variable in explaining the market reaction to a change in capital gains tax rates.
    Relation: The Journal of the American Taxation Association,24(1),49-64
    Data Type: article
    Appears in Collections:[會計學系] 期刊論文

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