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Journal Articles
The Accounting Review (2011) 86 (4): 1349–1381.
Published: 01 July 2011
...; (4) a January AQ premium is observed in almost every year of our sample period; and (5) the January AQ premium reflects, at least partly, the stock price effects of tax loss selling around the turn of the year. Taken together, these findings are difficult to reconcile with a risk interpretation...