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dc.creatorCorredor Casado, María Pilares_ES
dc.creatorFerrer Zubiate, Elenaes_ES
dc.creatorSantamaría Aquilué, Rafaeles_ES
dc.date.accessioned2015-10-27T12:30:35Z
dc.date.issued2013
dc.identifier.issn1542-7560 (Print)
dc.identifier.issn1542-7579 (Electronic)
dc.identifier.urihttps://hdl.handle.net/2454/18655
dc.descriptionThis is an accepted manuscript of an article published by Taylor & Francis in Journal of Behavioral Finance on July 2013, available online: http://dx.doi.org/10.1080/15427560.2013.819805en
dc.description.abstractThis paper studies the effect of investor sentiment on analysts' consensus recommendations. Our results show that the optimistic bias of analysts in the issuing of recommendations is affected by investor sentiment: the greater the investor sentiment, the more optimistically biased the analysts’ consensus recommendations. This bias is larger in stocks whose characteristics make them hard to value or to arbitrage. We also show that investor sentiment can help in the design of profitable strategies, particularly when taking the short position in portfolios with high sentiment sensitivity stocks.en
dc.description.sponsorshipThis paper has received financial support from the Spanish Ministry of Science and Innovation (ECO2009-12819).en
dc.format.mimetypeapplication/pdfen
dc.language.isoengen
dc.publisherTaylor & Francisen
dc.relation.ispartofJournal of Behavioral Finance, Volume 14, Issue 3, 2013en
dc.rights© 2013 Taylor & Francisen
dc.subjectInvestor sentimenten
dc.subjectAnalystsen
dc.subjectConsensus recomendationsen
dc.subjectFinanceen
dc.subjectBehaviouren
dc.titleValue of analysts’ consensus recommendations and investor sentimenten
dc.typeArtículo / Artikuluaes
dc.typeinfo:eu-repo/semantics/articleen
dc.contributor.departmentUniversidad Pública de Navarra. Departamento de Gestión de Empresases_ES
dc.contributor.departmentNafarroako Unibertsitate Publikoa. Enpresen Kudeaketa Sailaeu
dc.rights.accessRightsAcceso abierto / Sarbide irekiaes
dc.rights.accessRightsinfo:eu-repo/semantics/openAccessen
dc.identifier.doi10.1080/15427560.2013.819805
dc.relation.projectIDinfo:eu-repo/grantAgreement/ES/6PN/ECO2009-12819en
dc.relation.publisherversionhttps://dx.doi.org/10.1080/15427560.2013.819805
dc.type.versionVersión aceptada / Onetsi den bertsioaes
dc.type.versioninfo:eu-repo/semantics/acceptedVersionen


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