Tax Loss Selling: Implications for investor share trading behaviour and industry effects

我们将在几个方面为国家利益做出贡献。首先，我们将提供有关税收损失出售(TLS)的最新证据，解决这一领域严重缺乏研究的问题。其次，正在开发TLS的预测模型，这对于理解TLS将在何时何地发生非常重要。第三，我们将研究矿产勘探业是否特别受到资本利得税的不利影响。正如Prosser报告中承认的那样，当前的税收政策是勘探支出下降的潜在重要原因。需要了解它的作用，因为勘探业对出口和国民收入的贡献很大，对国家利益至关重要。

We will contribute to the national interest in several ways. First, we will provide up-to-date evidence on Tax Loss Selling (TLS), addressing an acute lack of research in this area. Second, a predictive model of TLS is being developed, which is important in understanding when and where significant TLS will arise. Third, we will examine whether the mineral exploration industry has been particularly disadvantaged by the Capital Gains Tax. As recognised in the Prosser Report, current tax policy is a potentially important cause of the decline in exploration expenditure. Its role needs to be understood, because the exploration industry contributes substantially to exports and national income, and is critical to the national interest.