We conduct an experiment to examine the effects of guidance frequency (frequent versus infrequent) and guidance goal (accuracy versus meet/beat versus truthful) on managers' operating decisions. We find that frequent guiders sacrifice total earnings for quarterly earnings predictability...

We conduct two experiments to investigate how investors react to attributions accompanying management guidance. In our first experiment, we investigate the joint effect of attribution locus (external versus internal attribution) and guidance-news valence (positive versus negative guidance news)...