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Financial Transaction Tax and Investment Funds: An Analysis of Key Factors and Their Impact on Performance

Using retrospective data analysis, this paper looks at the potential effects that the EU financial transaction tax would have on registered Austrian funds. We use original data for 927 investment funds over a 12-month trading period covering the 2014 calendar year. We analyse its effect on total net assets and on performance. We find that the cost of FTT on Austrian funds for 2014 would be Euro 89.5 million. The effect of FTT differs between funds and is influenced by fund category, gilt-edged securities held, risk and investment strategy. Behavioural changes in the market would likely arise in these areas if FTT were to be introduced. (authors' abstract) / Series: WU International Taxation Research Paper Series

Identiferoai:union.ndltd.org:VIENNA/oai:epub.wu-wien.ac.at:4560
Date03 June 2015
CreatorsEberhartinger, Eva, Said Formosa, Carmel
PublisherWU Vienna University of Economics and Business, Universität Wien
Source SetsWirtschaftsuniversität Wien
LanguageEnglish
Detected LanguageEnglish
TypePaper, NonPeerReviewed
Formatapplication/pdf
Relationhttp://ssrn.com/abstract=2613880, http://epub.wu.ac.at/4560/

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