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Valuation of Tax Loss Carryforwards and Carrybacks, and Its Implications for Dynamic Portfolio Selection
Govindaraj, Suresh - 2015
The issue of valuing tax loss-carryforwards (TCLFs) and carrybacks (TLCBs) arises frequently in theory and practice. While there have been a number of empirical papers that have shown TLCFs (TLCBs) are value relevant, there is little guidance on how to actually value these. The few analytical...
Persistent link: https://www.econbiz.de/10013026661
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Tax-Exempt Investors and the Asset Allocation Puzzle
Mintz, Jack; Smart, Michael - 2021
Investors frequently hold equity in tax-exempt savings vehicles such as pension plans, despite the prediction of the standard model that they hold only bonds. We provide a new explanation for this empirical puzzle based on differences between pensions and taxable assets in the tax treatment of...
Persistent link: https://www.econbiz.de/10013321172
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History-dependent risk preferences : evidence from individual choices and implications for the disposition effect
Andrikogiannopoulou, Angie; Papakonstantinou, Filippos - 2015 - June 2015
Using trading data from a sports-wagering market, we estimate individuals' dynamic risk preferences within the prospect-theory paradigm. This market's experimental-like features facilitate preference estimation, and our long panel enables us to study whether preferences vary across individuals...
Persistent link: https://www.econbiz.de/10011296081
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Heterogeneity and risk sharing in village economies
Chiappori, Pierre-André; Krislert Samphantharak; … - In: Quantitative economics : QE ; journal of the … 5 (2014) 1, pp. 1-27
, we measure heterogeneity in risk aversion among households in Thai villages using a full risk-sharing model, which we … then test allowing for this heterogeneity. There is substantial, statistically significant heterogeneity in estimated risk … preferences are unrelated to wealth or other characteristics. The heterogeneity matters for policy: Although the average household …
Persistent link: https://www.econbiz.de/10011757115
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Is There Information Content in the Tax Footnote?
Raedy, Jana Smith - 2012
This paper assesses the extent to which the disaggregated book-tax differences (BTDs) detailed in the tax footnote are associated with earnings persistence and growth, and the extent to which these associations matter to investors. Using hand-collected data from the schedule of deferred tax...
Persistent link: https://www.econbiz.de/10013115645
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Optimal savings for retirement : the role of individual accounts and disaster expectations
Le Blanc, Julia; Scholl, Almuth - 2011
We employ a life-cycle model with income risk to analyze how tax-deferred individual accounts affect households' savings for retirement. We consider voluntary accounts as opposed to mandatory accounts with minimum contribution rates. We contrast add-on accounts with carve-out accounts that...
Persistent link: https://www.econbiz.de/10009424907
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IRA Asset Allocation
Copeland, Craig - 2011
Individual retirement accounts (IRAs) hold more than 25 percent of all retirement assets in the United States. A substantial portion of these assets originated in other tax-qualified retirement plans, such as defined benefit (pension) and 401(k) plans, and were moved to IRAs through rollovers....
Persistent link: https://www.econbiz.de/10013124569
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IRA Asset Allocation, 2010
Copeland, Craig - 2012
This paper is the second examination of asset allocation from the EBRI IRA Database. The EBRI IRA Database is an ongoing project of the Employee Benefit Research Institute that currently contains information on 14.85 million accounts of 11.1 million unique individuals with total assets of $1.002...
Persistent link: https://www.econbiz.de/10013098863
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IRA Asset Allocation, 2011
Copeland, Craig - 2013
Individual retirement accounts (IRAs) are a vital component of U.S. retirement savings, representing more than 25 percent of all retirement assets in the nation. A substantial portion of these IRA assets originated in other tax-qualified retirement plans, such as defined benefit (pension) and...
Persistent link: https://www.econbiz.de/10013074314
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Rethinking Asset Location - Between Tax-Deferred, Tax-Exempt and Taxable Accounts
Reed, Chris - 2019
The Asset Location (AL) decision determines which of the assets owned should be held in which account-type (tax-deferred, tax-exempt or taxable) in order to maximize the tax-reduction benefits of those accounts and to maximize ending wealth. This paper argues against AL practices that a) phrase...
Persistent link: https://www.econbiz.de/10012905226