Lin, Wen-Chun; Chang, Shao-Chi; Chen, Sheng-Syan; Liao, … - In: Finance Research Letters 10 (2013) 2, pp. 82-92
We set out to determine whether the over-optimism of analysts has negative impacts on the subsequent long-run performance of firms following private placements of equity (PIPEs). Our results indicate that analysts do tend to make over-optimistic forecasts at the time of PIPEs, and that such...