Eichfelder, Sebastian; Lau, Mona - In: Wirtschaftsdienst : Zeitschrift für Wirtschaftspolitik 96 (2016) 2, pp. 101-105
trading volumes and share prices on the German stock market. As this capital gains tax reform had already been announced in … 2007, corresponding market reactions imply a delayed dissemination of tax information. Hence, our results raise some doubt … group of individual investors to a limited number of trading days (herd behaviour); and 3) limited liquidity in the market …