Dimmock, Stephen G.; Gerken, William C.; Ivković, Zoran; … - National Bureau of Economic Research (NBER) - 2014
Because of differences in accrued gains and investors' tax-sensitivity, capital gains "lock-in" varies across mutual funds even for the same stock at the same time. Using this variation, we show that tax lock-in affects funds' governance decisions. Higher tax lock-in decreases the likelihood a...
