Until 1981 Danish Equity Securities Were Taxed at a Capital

question 44

Multiple Choice

Until 1981 Danish equity securities were taxed at a capital gains rate of 50% for securities held for over two years, and at a speculative gains rate of 75% for securities held for under two years. This led to market segmentation caused by

• A) taxation.
• B) political risk.
• C) asymmetric information.
• D) financial risk.

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