Title: Capital Gains Taxes and Acquisition Activity: Evidence of the Lock‐in Effect*
Abstract: Contemporary Accounting ResearchVolume 24, Issue 2 p. 315-344 Free Access Capital Gains Taxes and Acquisition Activity: Evidence of the Lock-in Effect* Benjamin C. Ayers, Benjamin C. Ayers University of GeorgiaSearch for more papers by this authorCraig E. Lefanowicz, Craig E. Lefanowicz University of VirginiaSearch for more papers by this authorJohn R. Robinson, John R. Robinson University of Texas, AustinSearch for more papers by this author Benjamin C. Ayers, Benjamin C. Ayers University of GeorgiaSearch for more papers by this authorCraig E. Lefanowicz, Craig E. Lefanowicz University of VirginiaSearch for more papers by this authorJohn R. Robinson, John R. Robinson University of Texas, AustinSearch for more papers by this author First published: 15 January 2010 https://doi.org/10.1506/1717-5042-0880-4P73Citations: 37 * Accepted by Kenneth Klassen. The authors gratefully acknowledge the support of the Terry College of Business and the Sanford-Terry research grant program, the McIntire School of Commerce, and the Red McCombs School of Business. The authors also appreciate the constructive comments of Brad Barber, Lisa Bryant, John Chalmers, Larry Dann, Todd Dezoort, Charles Hadlock, Ray King, Ken Klassen, Steve Limberg, Steve Matsunaga, Wayne Mikkelson, Jeff Miller, Dale Morse, Jim Seida, Mike Stein, Connie Weaver, Robert Yetman, Michelle Yetman, and the participants of the finance and accounting workshops at the University of Alabama, University of California at Davis, University of Kentucky, University of Notre Dame, University of Oregon, University of Texas at Austin, and University of Waterloo. AboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onEmailFacebookTwitterLinkedInRedditWechat References Andrade, G., M. Mitchell, and E. Stafford. 2001. New evidence and perspectives on mergers. Journal of Economic Perspectives 15 (2): 103–20. Andrade, G., and E. Stafford. 2004. Investigating the economic role of mergers. Journal of Corporate Finance 10 (1): 1–36. Auerbach, A. J. 1989. Capital gains taxation and tax reform. National Tax Journal 42 (3): 391–401. Auerbach, A. J., and D. Reishus. 1988. The effects of taxation on the merger decision. 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