We investigate the relation between investor sentiment and property-liability insurers' loss reserves. We use the Michigan Consumer Confidence Index as a proxy for sentiment, we show that during high sentiment periods, property-liability insurers intend to under-estimate loss reserves. In...

The authors investigate multiplicate relationships between investor attention and gold futures return. The Vector Auto Regression (VAR) estimates demonstrate that investor attention exhibits significant impact on gold futures returns and the effect can be positive or negative depending on how...