Agenda-building in the corporate sphere: Analyzing influence in the 2008 Yahoo!–Icahn proxy contest

This study further extends agenda-building theory into the corporate sphere. This investigation tested for agenda-building relationships between the issues emphasized in corporate candidate-controlled information subsidies and financial news media coverage during the 2008 Yahoo! Inc.–Carl Icahn proxy contest for control of Yahoo!’s board of directors. Solid support was found for issue agenda-building associations. Cross-lagged correlation analyses revealed that both Yahoo!’s and Icahn's information subsidies enjoyed some success in shaping media coverage during the proxy fight. The theoretical and practical implications of these findings are discussed.

► This study tested for issue agenda-building relationships during a proxy contest.
► Solid support was found for issue agenda-building associations.
► Cross-lagged correlations found that sources led in these source-media linkages.
► Corporate public relations efforts do seem to impact financial media coverage.
► This research helps extend agenda-building theory to the corporate sphere.