The purpose of this paper is to examine the effect of loss forecast avoidance as an opportunistic behavior on management forecast optimism. Therefore, we initially investigate the effect of loss forecast avoidance on management forecast optimism. then, market reaction to loss forecast avoiding behavior firms will be assessed. Data are collected from a sample contained 194 firms listed in TSE (2003-2011). Findings show that an important part of optimism evidenced in management forecasts are explained by loss forecast avoiding behavior. Moreover, market cannot recognize loss forecast avoiding behavior and does not discount the new forecast information.
jafari,Y , pourheidari,O and dorri sedeh,M . (2014). The Investigation of the Relationship between Management Forecast Optimism and Loss Forecast Avoidance Behavior. Quarterly Journal of Securities Exchange, 7(26), 41-58.
MLA
jafari,Y , , pourheidari,O , and dorri sedeh,M . "The Investigation of the Relationship between Management Forecast Optimism and Loss Forecast Avoidance Behavior", Quarterly Journal of Securities Exchange, 7, 26, 2014, 41-58.
HARVARD
jafari Y, pourheidari O, dorri sedeh M. (2014). 'The Investigation of the Relationship between Management Forecast Optimism and Loss Forecast Avoidance Behavior', Quarterly Journal of Securities Exchange, 7(26), pp. 41-58.
CHICAGO
Y jafari, O pourheidari and M dorri sedeh, "The Investigation of the Relationship between Management Forecast Optimism and Loss Forecast Avoidance Behavior," Quarterly Journal of Securities Exchange, 7 26 (2014): 41-58,
VANCOUVER
jafari Y, pourheidari O, dorri sedeh M. The Investigation of the Relationship between Management Forecast Optimism and Loss Forecast Avoidance Behavior. Quarterly Journal of Securities Exchange. 2014;7(26):41-58 (In Persian).