Mood and analyst optimism and accuracy

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dc.contributor.authorChang Y
dc.contributor.authorHsu W
dc.coverage.spatialSydney, Australia
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.extentJan-62
dc.identifier.citationpp. 1 - 62
dc.identifier.elements-id287268
dc.identifier.harvestedMassey_Dark
dc.identifier.urihttps://hdl.handle.net/10179/10440
dc.relation.urihttp://fma.org/Sydney/SydneyProgram.htm
dc.source2016 FMA Asia/Pacific Conference
dc.titleMood and analyst optimism and accuracy
dc.typeconference
pubs.confidentialFALSE
pubs.finish-date15/07/2016
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-date13/07/2016
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