Clientele effect

High-interest-bearing securities are predominantly purchased by investors who are in a low tax bracket (investors who face low tax rates). In contrast, low-yielding securities tend to be purchased by people who are in the upper tax brackets (investors in the highest tax brackets). When issuing securities, this fact must be taken into account by the issuer. – See issuance business, first-time buyers, retail investors, securities issuance.

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
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