Coyne, Christopher; Fabozzi, Frank J.; Yaari, Uzi - In: National Tax Journal 42 (1989) 4, pp. 475-85
Examines accepted methods of calculating the effect of deferred realization on the effective rate of capital gains tax paid by common shareholders. Proposes a valuation-based method that is designed for growth stocks where gains are accrued gradually and realized in lump sums.