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Inlåsningseffekten: Skattens effekt på svenskars fondsparande
Linnaeus University, School of Business and Economics, Department of Management Accounting and Logistics.
Linnaeus University, School of Business and Economics, Department of Management Accounting and Logistics.
Linnaeus University, School of Business and Economics, Department of Management Accounting and Logistics.
2014 (Swedish)Independent thesis Basic level (degree of Bachelor), 10 credits / 15 HE creditsStudent thesis
Abstract [sv]

 

Bakgrund:

I Sverige har 76 % av befolkningen innehav i fonder och den totala fondförmögenheten uppgår till 1 925 miljarder. Kapitalvinstskatten ligger på 30 % och utlöses endast vid en realisation av vinsten. Många svenskar undviker gärna att aktivera denna skatteeffekt och blir därmed inlåsta i sina fonder.

Syfte:

Syftet med denna uppsats är att utifrån intervjuer med privata fondsparare och aktörer inom branschen förklara hur kapitalvinstskatten påverkar privatpersoners resonerande och agerande. Detta beteende kommer sedan att analyseras utifrån befintliga teorier inom beteendeekonomi.

Metod:

För att nå studiens syfte har vi använt oss av en abduktiv metod. Det empiriska materialet har samlats in med hjälp av semistrukturerade intervjuer. Totalt har vi intervjuat 10 fondsparare och 6 personer inom branschen. Materialet från intervjuerna har sedan förklarats med hjälp av de teorier vi valt ut.

Slutsats:

I vår studie har vi kommit fram till att inlåsningseffekten varierar beroende på fondspararens ålder. Den yngre gruppen ställde sig mer likgiltig inför kapitalvinstskatten, med anledning av en kort placeringshorisont. Den äldre gruppen hade en mer ospecificerad placeringshorisont och baserade sina investeringsbeslut utefter skattekonsekvensen. Kapitalvinstskatten hade då en bromsande effekt, eftersom det skulle minska den totala förmögenheten.

Abstract [en]

 

Background:

In Sweden 76 % of the population has savings in mutual funds, with a combined wealth of 1 925 billion SEK. The tax on capital gains is 30 % and is activated when the profit is realized. Many Swedes avoid triggering this tax effect and is therefore locked-in in their mutual funds.

Purpose

The purpose of this study is, from interviews with private fund investors and industry players, to explain how the capital gains tax affects individuals’ reasoning and actions. This behavior will then be analyzed in terms of existing theories in the field.

Method:

We have used an abductive method to achieve the purpose of this study. The empirical material has been collected through semi-structured interviews.  We have conducted 10 interviews with private fund investors and 6 people in the fund industry. The material from the interviews was then explained by means of the theories we have selected.

Conclusion:

In our study we came to the conclusion that the lock-in effect varies depending on the fund savers age. The younger group was more indifferent to the capital gains tax, due to a shorter investment horizon. The older group had a more unspecified investment horizon and based their investment decisions along the tax consequence. Capital gains tax then had a braking effect, as it would reduce the total wealth.

Place, publisher, year, edition, pages
2014. , 65 p.
Keyword [en]
Fund savings, mutual fund savings, personal finance, lock-in effect, capital gains, capital gains tax
Keyword [sv]
Fondsparande, privatekonomi, inlåsningseffekt, kapitalvinster, kapitalvinstskatt
National Category
Business Administration
Identifiers
URN: urn:nbn:se:lnu:diva-35396OAI: oai:DiVA.org:lnu-35396DiVA: diva2:727092
Subject / course
Business Administration - Management Accounting
Educational program
Business Administration and Economics Programme, 240 credits
Supervisors
Examiners
Available from: 2014-07-04 Created: 2014-06-19 Last updated: 2014-07-04Bibliographically approved

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Inlasningseffekten(1369 kB)333 downloads
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