This paper shows that political capital is an important determinant of corporate investment and innovation. Using … capital investment and R&D spending. Surprise losses of political capital result in negative announcement returns, reduced …

planning and infrastructure provision, enhancing competition and increasing investment in innovation and intangibles. This … consequence of sustained low multi-factor productivity growth within industries, as well as weak investment. Economic geography is … diminish its access to global markets, the scale and efficiency of domestic businesses, the level of competition, and the …

information about their innovative productivity. It creates a free-rider effect in the competition for the innovation that …