“…This is, of course, a form of market signaling, defined by Kohli (1999) as any action by a firm that provides a direct or indirect indication of the firm's intention, motives, goals, or internal situation. Schatzel, Calantone, and Droge (2001) have indicated that pre-announcements of new product delay provide a firm with the opportunity to portray a delay in a relatively favorable light.…”