Elkemali, Taoufik - In: Risks : open access journal 12 (2024) 4, pp. 1-16
Several prior studies indicate that financial analysts exhibit systematic underreaction to information; others … change (good performance) and positive prior-year forecast errors (good surprise). Conversely, there is an underreaction to …, analysts exhibit systematic optimism rather than systematic underreaction or overreaction. The results also highlight that the …