Mood and analyst optimism and accuracy

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dc.contributor.authorChang Y
dc.contributor.authorHsu W
dc.coverage.spatialAuckland, New Zealand
dc.date.issued2016-12
dc.description.abstractDoes mood affect prediction performance? When analysts are in a positive (negative) mood, do they make more positively (negatively) biased and less (more) accurate forecasts? This study provides supportive evidence. Specifically, we find that analyst forecasts are more optimistic and have larger errors near holidays, but more pessimistic and have smaller errors when there is a disaster with significant fatalities. We further show that these results are neither driven by sentiment associated with contemporaneous economic or market conditions, nor by under-reaction or over-reaction to more bad news released on days immediately before weekends or holidays.
dc.format.extentJan-78
dc.identifier.citationhttps://acfr.aut.ac.nz/conferences-and-events/past-conferences-and-events/auckland-finance-meeting2/2016/academic-programme, 2016, pp. 1 - 78
dc.identifier.elements-id287270
dc.identifier.harvestedMassey_Dark
dc.identifier.urihttps://hdl.handle.net/10179/10442
dc.relation.isPartOfhttps://acfr.aut.ac.nz/conferences-and-events/past-conferences-and-events/auckland-finance-meeting2/2016/academic-programme
dc.relation.urihttps://acfr.aut.ac.nz/conferences-And-events/past-conferences-and-events/auckland-finance-meeting/academic-programme-for-afm-2016
dc.source2016 Auckland Finance Meeting
dc.subjectforecast optimism
dc.subjectforecast accuracy
dc.subjectmood
dc.subjectanalysts
dc.titleMood and analyst optimism and accuracy
dc.typeconference
pubs.confidentialFALSE
pubs.finish-date18/12/2016
pubs.notesNot known
pubs.organisational-group/Massey University
pubs.organisational-group/Massey University/Massey Business School
pubs.organisational-group/Massey University/Massey Business School/School of Economics and Finance
pubs.start-date16/12/2016
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