This paper examines, using comprehensive trading records of Finnish investors, how investors with different capital gain positions react to earnings announcemen

This paper examines the impact of capital gains taxes on equity pricing. Examining three-day cumulative abnormal returns for quarterly earning announcements fro

This paper examines the impact of capital gains taxes on equity pricing. Examining three-day cumulative abnormal returns for quarterly earning announcements fro

This paper analyzes the way in which the disposition effect, which is the tendency to realize gains before losses, influences investors' reaction to earnings an

Capital gains tax can impose potentially large cost on investors selling stocks. This cost can sometimes be an order of magnitude larger than conventional trans