Table 1 shows the extent of media coverage of our raw sample of firms by year. Overall, when media coverage was measured as MediaCov1 , there were 2114,860 articles written about our sample of 9613 firm-years over the period 20 0 0–20 09. On average, there were 220 articles per firm in a year. Given that figure, a listed firm was generally mentioned in an article at least every few days in any given year. Because all firms in our sample were listed and the range of our media coverage was quite extensive, there was no firm in the sample that received no media coverage in any given year. The extent of media coverage per year ( MediaCov1) appeared to increase over time, from a low of 108 per firm in 20 0 0 to a high of 307 per firm in 2008; however, there was no clear trend.