Value-at-risk (VaR) and conditional value-at-risk (CVaR) are popular risk measures from academic, industrial and regulatory perspectives. The problem of minimizing CVaR is theoretically known to be of a Neyman-Pearson type binary solution. We add a constraint on expected return to investigate...

This study examines how sell-side analyst’s earnings forecast behavior are influenced by peer analysts’ forecast. Based on uncertainty management theory, we propose that observing the deviation between analysts’ forecast and peers’ forecast will enhance analysts’ perception of...