This paper argues that differences in the dispersion of corporate ownership can help explain why party positions on corporate governance vary across countries and over time. Expectations that left/right conflicts should pitch capital against labor overlook that "capitalʺ is not a homogenous...

We propose a novel mechanism through which established firms contribute to the startup ecosystem: the allocation of R&D tax credits to startups via the M&A channel. We show that when established firms become eligible for R&D tax credits, they increase their R&D and M&A activity. In particular,...