Scandinavian Working Papers in Economics

HUI Working Papers,
HUI Research

No 3: Tax-Induced Trading and the Identity of the Marginal Investor: Evidence from Sweden

Sven-Olov Daunfeldt ()
Additional contact information
Sven-Olov Daunfeldt: The Swedish Retail Institute (HUI), Postal: Regeringsgatan 60, SE-103 29 Stockholm, Sweden; and the Department of Economics , University of Gävle, SE-801 76 Gävle, Sweden

Abstract: Changes in the Swedish tax code during the 1990s were structured in a way that offers an opportunity to test whether ex-dividend prices were determined by the taxation of domestic individual investors. The results presented in this paper indicate that ex-dividend prices were not influenced by the relatively large tax changes for domestic individual investors. In addition, there was no evidence that the taxation of domestic individual investors influenced ex-dividend prices for any specific dividend yield group.

Keywords: Taxation; trading; ex-dividend prices

JEL-codes: G11; G18

27 pages, December 5, 2005

Download statistics

Published as
Sven-Olov Daunfeldt, (2009), 'Tax-Induced Trading and the Identity of the Marginal Investor: Evidence from Sweden', Applied Economics Letters, vol 16, pages 679-681

Questions (including download problems) about the papers in this series should be directed to Hans Seerar Westerberg ()
Report other problems with accessing this service to Sune Karlsson ().

RePEc:hhs:huiwps:0003This page generated on 2024-09-13 22:15:09.