"Illustrates how investment strategies for tax-exempt accounts don't work for individuals subject to taxes. Offers … techniques for comparing tax-efficiency of mutual funds, hedge funds, and investment managers, and presents more …

different assets. International tax arbitrage has to consider the fact that capital assets located in different countries are … tax them differently. The less diverse these characteristics are, the more elastic portfolio investment reacts with … respect to changes in relative returns or tax differentials. Portfolio managers need to estimate covariances or betas when …

distinguish between Real Tax Effects and Perception Effects when a proportional income tax, with and without a full loss offset … control for the Perception Effects. However, if we consider these effects, we find support for the theory. The isolated …

availability of tax losses to a limited partner is also more limited as compared to a separate account investor. Understanding this … limitation is particularly important for investors in tax-aware funds which tend to allocate net tax losses. In addition …” accounting and shows how these principles apply to investing in tax-aware funds structured as limited partnerships. We argue that …

business income to tax authorities, we show that a fall in the tax rate may increase investment in risky entrepreneurial …, including private business equity. In a system of simultaneous demand equations in first differences, we identify the tax … effects by an instrumental variables approach exploiting tax reforms during our observation period. To account for selection …