Analysts’ optimism and stock crash risk
Abstract
Purpose The purpose of this paper is to investigate whether analysts’ optimism affects the stock crash risk. Design/methodology/approach The sample covers 49,246 firm-year observations for the period between 1995 and 2015. The authors use OLS regressions with firm and year fixed effects for analyses. Findings The study finds that there is a positive association between analysts’ optimism and stock crash risk. Such a positive impact is more...
Paper Details
Title
Analysts’ optimism and stock crash risk
Published Date
Dec 3, 2019
Journal
Volume
46
Issue
3
Pages
323 - 343
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History