Elkemali, Taoufik - In: Risks : open access journal 12 (2024) 4, pp. 1-16
illustrate systematic overreaction. We assume that cognitive biases influence analysts' behavior and that these misreactions are …-year forecast error. Our findings in the Saudi financial market reveal a tendency for overreaction to positive prior-year earnings …, analysts exhibit systematic optimism rather than systematic underreaction or overreaction. The results also highlight that the …