Government policy and ownership of financial assets
By: Kristian Rydqvist, Joshua Spizman, Ilya A. Strebulaev
Contributors: Spizman, Joshua; Strebulaev, I. A. (Ilʹi︠a︡ Alekseevich); National Bureau of Economic Research
Series: NBER working paper series -- working paper 17522; Working paper series (National Bureau of Economic Research : Online) -- working paper no. 17522.
Publisher: National Bureau of Economic Research
Published: 2011
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Description: "Since World War II, direct stock ownership by households across the globe has largely been replaced by indirect stock ownership by financial institutions.  We argue that tax policy is the driving force.  Using long time-series from eight countries, we show that the fraction of household ownership decreases with measures of the tax benefits of holding stocks inside tax-deferred plans.  This finding is important for policy considerations on effective taxation and for financial economics research on the long-term effects of taxation on corporate finance and asset prices"--National Bureau of Economic Research web site.
Notes: Title from PDF file as viewed on 1/5/2012.

Includes bibliographical references.

Also available in print.

System requirements: Adobe Acrobat Reader.

Mode of access: World Wide Web.