Gibson, Scott; Safieddine, Assem; Titman, Sheridan - In: Journal of Financial and Quantitative Analysis 35 (2000) 03, pp. 369-386
The 1986 Tax Reform Act (TRA) replaced non-synchronous tax year-ends with a common October 31 year-end for all mutual funds. After the TRA, we find that funds systematically accelerated the sale of losers prior to October 31. A similar pattern is not present for funds before the TRA, of for...
