Mood and analyst optimism and accuracy

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dc.contributor.authorChang Y
dc.contributor.authorHsu W
dc.coverage.spatialBangkok, Thailand
dc.description.abstractWe 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. These results are neither explained by sentiment associated with contemporaneous economic conditions, nor by under-reaction or over-reaction to more bad news released on days immediately before weekends or holidays. Overall, our results are consistent with the notion that when analysts are in a positive (negative) mood, they generally make more positively (negatively) biased and less (more) accurate forecasts.
dc.format.extent1 - 78
dc.identifier.citationpp. 1 - 78
dc.identifier.elements-id287269
dc.identifier.harvestedMassey_Dark
dc.relation.urihttp://www.set.or.th/asianfa2016/program_schedule.html
dc.source2016 Asian Finance Association Annual Meeting
dc.titleMood and analyst optimism and accuracy
dc.typeconference
pubs.confidentialfalse
pubs.finish-date2016-06-28
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-date2016-06-26
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