Crisis sentiment in the U.S. insurance sector

Imagem do registro
Registro MARC
LDR  00000cab a2200000 4500
001  MAP20180000249
003  MAP
005  20180111134152.0
008  180109e20171204esp|||p |0|||b|spa d
040  ‎$a‎MAP‎$b‎spa‎$d‎MAP
084  ‎$a‎219
100  ‎$0‎MAPA20180000157‎$a‎Irresberger, Felix
24510‎$a‎Crisis sentiment in the U.S. insurance sector‎$c‎Felix Irresberger, Fee Elisabeth König, Gregor N. F. Weif
520  ‎$a‎We use Internet search volume data to measure idiosyncratic and marketwide crisis sentiment to explain insurer stock return volatility. We find that market-level crisis sentiment was a significant predictor of stock return volatility of U.S. insurers between 2006 and 2010. Higher levels of crisis sentiment are associated with higher levels of price uncertainty. This effect is strongest for insurers with less exposure to the adverse effects of the financial crisis. Further, crisis sentiment also affects the cross-section of movements in insurer stock prices. Our results imply that investors exited insurer stocks mainly due to crisis sentiment rather than a rational assessment of the insurers¿ actual exposure to the crisis.
650 4‎$0‎MAPA20080586294‎$a‎Mercado de seguros
650 4‎$0‎MAPA20080596606‎$a‎Evolución del seguro
651 1‎$0‎MAPA20080638337‎$a‎Estados Unidos
7001 ‎$0‎MAPA20180000461‎$a‎König, Fee Elisabeth
7001 ‎$0‎MAPA20180000478‎$a‎Weif, Gregor N.F.
7730 ‎$w‎MAP20077000727‎$t‎The Journal of risk and insurance‎$d‎Nueva York : The American Risk and Insurance Association, 1964-‎$x‎0022-4367‎$g‎04/12/2017 Volumen 84 Número 4 - diciembre 2017 , p. 1295-1330