The business media disseminates managers' earnings guidance news more broadly or creates new information content on the guidance (Drake et al. 2014). We hypothesize that the media's information dissemination encourages managers to continue issuing earnings guidance because their intended...

Financial journalists have two countervailing incentives when reporting on a firm's quarterly earnings guidance. On the one hand, their explicit incentive to attract readership leads them to express discrepant views that deviate from the guidance news managers intend to deliver. We hypothesize...