scholarly journals A Flaw in the Throwback Rules for Capital Gain Distributions

1971 ◽  
Vol 1971 (4) ◽  
pp. 745
Author(s):  
Richard D. Hobbet
Keyword(s):  
Capital Gain

Two Stock Portfolio Choice with Capital Gain Taxes and Short Sales

2001 ◽  
Author(s):  
Michael F. Gallmeyer ◽  
Ron Kaniel ◽  
Stathis Tompaidis
Keyword(s):  
Portfolio Choice ◽  
Capital Gain ◽  
Short Sales ◽  
Stock Portfolio

US Financial Debt Crisis: A Stochastic Optimal Control Approach

2011 ◽  
Vol 62 (3) ◽  
Author(s):  
Jerome L. Stein
Keyword(s):  
Optimal Control ◽  
Interest Rate ◽  
Financial Crisis ◽  
Upper Bound ◽  
Stochastic Optimal Control ◽  
Debt Crisis ◽  
Capital Gain ◽  
Empirical Measure ◽  
Net Worth ◽  
Control Approach

SummaryThe financial crisis was precipitated by the mortgage crisis. A whole structure of financial derivatives was based upon the ultimate debtors, the mortgagors. Insofar as the mortgagors were unable to service their debts, the values of the derivatives fell. The financial intermediaries whose assets and liabilities were based upon the value of derivatives were very highly leveraged. Changes in the values of their net worth were large multiples of changes in asset values. A cascade was precipitated by the mortgage defaults. In this manner, the mortgage debt crisis turned into a financial crisis. The crucial variable is the optimal debt of the real estate sector, which depends upon the capital gain and the interest rate. I apply the Stochastic Optimal Control (SOC) analysis to derive the optimal debt. Two models of the stochastic process on the capital gain and interest rate are presented. Each implies a different value of the optimal debt/net worth. I derive an upper bound of the optimal debt ratio, based upon the alternative models. An empirical measure of the excess debt: actual less the upper bound of the optimal ratio, is shown to be an early warning signal (EWS) of the debt crisis.

scholarly journals Konsep Pengelolaan Kekayaan dalam Islam

2017 ◽  
Vol 3 (1) ◽  
pp. 27-44
Author(s):  
Choirunnisak Choirunnisak
Keyword(s):  
Capital Gain

Penelitian ini bertujuan untuk mengetahui pengelolaan kekayaan dalam Islam. Ada empat konsep pengelolaan kekayaan dalam Islam, tentunya semua ini harus berdasarkan syariah: 1). (bisnis), tabungan di bank, investasi pada properti, dan lain-lain. 2). Peningkatan atau Perbaikan Kekayaan. Meningkatkan jumlah pengembalian dari capital gain dan pendapatan termasuk melalui penggunaan leverage (utang). 3.) Perlindungan Kekayaan. Melindungi kekayaan melalui manajemen risiko dan asuransi.4) Distribusi Kekayaan. Mendistrbusikan kekayaan melalui zakat dan faraid (warisan).  

Yields on Redeemable Securities subject to Capital Gains Tax

1965 ◽  
Vol 17 (06) ◽  
pp. 551-554
Author(s):  
M. T. L. Bizley
Keyword(s):  
Capital Gains ◽  
Capital Gain ◽  
Capital Gains Tax ◽  
Interest Payments

The imposition of a tax on capital gains invites enquiry into the effect on yields of redeemable fixed-interest securities purchased below their redemption prices. Attention has hitherto been focused on two yields in connexion with such securities, namely the yield ignoring tax, and the yield (net, or ‘grossed-up’) allowing for tax on interest payments but not on the capital gain at redemption date. Henceforth a third yield must also be considered, namely the yield (again net or ‘grossed-up’) allowing for tax on both the interest payments and the capital gain. The object of this note is to demonstrate certain relationships between these three yields, where the rate of tax payable on interest payments is assumed to be the same as that payable on the capital gain; otherwise the concept of a grossed-up net yield becomes ambiguous, if not meaningless.

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