The Investor Communication Strategies of Newspaper Corporations: A Computerized Content Analysis

Abstract

The decline in readership and revenues from traditional newspaper business around the globe requires newspaper-owning corporations to find solutions to this problem while simultaneously communicating their vision for future growth to investors. This study investigates the narrative strategies used by newspaper corporations through a computerized content analysis of financial news releases. The results of the study indicate that the newspaper owners sound more certain in their communications with investors than expected by the normal range. In addition, some variations of the individual strategies showed unnecessary increases in language complexity and embellishment, which creates language that slows down the flow of information and de-emphasizes the actual actions performed by the management.

ACKNOWLEDGMENTS

The authors would like to thank John Kraft, Ph.D., Dean and Professor, Warrington College of Business Administration, University of Florida, for his comments on the earlier version of this manuscript.