Optimistic bias of analysts' earnings forecasts: Does investor sentiment matter in China?

Citations

Cited by:

1. Zhang, Yuan-Yuan & Zhang, Yue-Jun, 2022. "The impact of institutional analyst forecast divergence on crude oil market: Evidence from the mixed frequency models," International Review of Financial Analysis, Elsevier, vol. 84(C).
2. Jang, Jaehee & Wu, Xiaoying, 2026. "Non-English textual analysis with large language models: Analysts’ use of MD&A sentiment in earnings forecasting," Journal of Contemporary Accounting and Economics, Elsevier, vol. 22(1).
3. Rui Liu & Jiayou Liang & Haolong Chen & Yujia Hu, 2026. "Analyst Reports and Stock Performance: Evidence From the Chinese Market," Asia-Pacific Financial Markets, Springer;Japanese Association of Financial Economics and Engineering, vol. 33(2), pages 831-856, June.
   • Rui Liu & Jiayou Liang & Haolong Chen & Yujia Hu, 2024. "Analyst Reports and Stock Performance: Evidence from the Chinese Market," Papers 2411.08726, arXiv.org, revised Mar 2025.
4. Lingchen Liu & Yan Gu & Kung‐Cheng Ho & Chiu‐Lan Chang, 2022. "Customer concentration and analyst following: Evidence from China," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 43(1), pages 97-110, January.
5. Chen, Rongda & Wu, Ling & Jin, Chenglu & Wang, Shengnan, 2021. "Unintended investor sentiment on bank financial products: Evidence from China," Emerging Markets Review, Elsevier, vol. 49(C).
6. Mei-Chen Lin & J. Jimmy Yang, 2023. "Do lottery characteristics matter for analysts’ forecast behavior?," Review of Quantitative Finance and Accounting, Springer, vol. 61(3), pages 1057-1091, October.
7. Pedro Manuel Nogueira Reis & Carlos Pinho, 2021. "A Reappraisal of the Causal Relationship between Sentiment Proxies and Stock Returns," Journal of Behavioral Finance, Taylor & Francis Journals, vol. 22(4), pages 420-442, October.
8. Li, Changgui & Liu, Xiaowen & Hou, Zhiping & Li, Yongyi, 2023. "Retail investor attention and equity mispricing: The mediating role of earnings management," Finance Research Letters, Elsevier, vol. 53(C).
9. Ping Lu & Zhihong Li & Jianhui Liu & Yunxuan Wang, 2021. "Do the Securities Analysts Play the Role of Information Competition or Information Supplement? Empirical Analysis Based on Investor Sentiment," SAGE Open, , vol. 11(4), pages 21582440211, December.
10. Liyun Zhou & Chunpeng Yang, 2020. "Investor sentiment, investor crowded-trade behavior, and limited arbitrage in the cross section of stock returns," Empirical Economics, Springer, vol. 59(1), pages 437-460, July.
11. Gao, Yang & Zhao, Chengjie & Wang, Yaojun, 2024. "Investor sentiment and stock returns: New evidence from Chinese carbon-neutral stock markets based on multi-source data," International Review of Economics & Finance, Elsevier, vol. 92(C), pages 438-450.
12. Zhang, Chao & Shrider, David G. & Han, Dun & Wu, Yanran, 2022. "Accurate forecasts attract clients; Biased forecasts keep them happy," International Review of Financial Analysis, Elsevier, vol. 81(C).
13. Reis, Pedro Manuel Nogueira & Pinho, Carlos, 2020. "A new European investor sentiment index (EURsent) and its return and volatility predictability," Journal of Behavioral and Experimental Finance, Elsevier, vol. 27(C).
14. Ji, Xu & Dong, Yan & Vagnani, Gianluca & Yang, Xiaoqi, 2024. "Stock market reactions and optimism bias in analysts’ earnings forecasts: An analysis of China's stock markets," Finance Research Letters, Elsevier, vol. 59(C).
15. Yin, Libo & Liao, Huiyi, 2021. "Big is brilliant: Understanding the Chinese size effect through profitability shocks," International Review of Financial Analysis, Elsevier, vol. 74(C).
16. Ji, Xu & Wu, Shanhui & Dong, Yan & Yang, Xiaoqi, 2024. "Learning by doing or catering: Firm-specific experience and analyst forecast accuracy," Emerging Markets Review, Elsevier, vol. 60(C).
17. Wang, Kemin & Zhang, Guanglong & Zhou, Lin, 2023. "Managerial disposition effect: Evidence from China," Pacific-Basin Finance Journal, Elsevier, vol. 78(C).
18. Wang, Ting & Wang, Jiangyuan, 2026. "Information spillover effects of corporate digital transformation," Economic Analysis and Policy, Elsevier, vol. 89(C), pages 274-286.
19. Tan, Zhengxun & Xiao, Binuo & Huang, Yilong & Zhou, Li, 2021. "Value at risk and return in Chinese and the US stock markets: Double long memory and fractional cointegration," The North American Journal of Economics and Finance, Elsevier, vol. 56(C).
20. Yin, Libo & Zhu, Xiaoye & Su, Zhi & Guo, Hongliang, 2025. "Is disagreement beneficial for market efficiency? Evidence from ESG ratings," Journal of International Money and Finance, Elsevier, vol. 154(C).
21. Wu, Yanran & Zhang, Chao, 2022. "Hard to arbitrage, hard for analysts to forecast," The North American Journal of Economics and Finance, Elsevier, vol. 62(C).
22. Li, Zhimin & Zhu, Weidong & Wu, Yong & Wu, Zihao, 2024. "Research on information fusion of security analysts’ stock recommendations based on two-dimensional D-S evidence theory," The North American Journal of Economics and Finance, Elsevier, vol. 74(C).
23. Zhuo Li & Meiyu Tian & Guangda Ouyang & Fenghua Wen, 2021. "Relationship between investor sentiment and earnings news in high‐ and low‐sentiment periods," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(2), pages 2748-2765, April.
24. Wu, Mian & Huang, Wenli & Liu, Xiaoquan & Meng, Qingxin, 2026. "Firm connection and equity return predictability – Graph-based machine learning methods," The British Accounting Review, Elsevier, vol. 58(2).
25. Shan, Junhui & Xiang, Rui & Liu, Li & Zhang, Chaoyi & Zhang, Ping, 2025. "Cross-section return dispersion and flow-performance sensitivity: Evidence from Chinese mutual fund," Pacific-Basin Finance Journal, Elsevier, vol. 92(C).
26. Wang, Gaoshan & Yu, Guangjin & Shen, Xiaohong, 2021. "The effect of online environmental news on green industry stocks: The mediating role of investor sentiment," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 573(C).