This paper re-examines gold's role as a tool for investors to manage their portfolio risk. We begin by assessing gold's average relationship to an investor's diversified equity portfolio by applying the basic Capital Asset Pricing Model (CAPM) to UK and US equity indices. Next, we apply a...

The future of behavioral finance necessitates that the research areas of behavioral corporate finance and investor psychology develop richer models of financial decision-making behavior. Behavioral corporate finance requires expanding the focus from chief executive officer characteristics to...