affiliation of the future governor is a source of political risk to firms considering business investment. More importantly, the … year of a gubernatorial election, the elasticity of investment to the eventual margin of victory is 0.027. Both the …

particularly susceptible to political uncertainty. I use term limits as an IV for election closeness. Because close elections are …. Post-election rebounds in investment depend on whether an incumbent is re-elected. Finally, I provide evidence that firms …

Political uncertainty is a risk that affects the decision-making processes of firms. Therefore, it is crucial to … understand what causes political uncertainty and include appropriate indicators in a risk management system. This study … introduces election polls as a new determinant of political uncertainty. Election polls reveal the public’s opinion on current …