(Thursday, 18th May 2023)
Title : Bridging Corporate Political Activity and Corporate Innovation Strategy
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Existing institutions may not be adapted to the commercialization of novel technologies (e.g. autonomous vehicles, DNA-related technologies, nanotechnologies, etc.). As a result, innovative firms are exposed to situations in which they need to engage in corporate political activities to shape relevant institutions. Corporate political activities involve the exchange of information between public policymakers and actors, who have private stakes in the policy outcome. These actors’ dependence on the policy outcome may be perceived as a source of bias affecting the policymakers’ willingness to use the information firms provide. Understanding how interested actors manage this perception and which political strategies they may employ to influence public policy decisions has important economic and social implications. These information-based political strategies are particularly salient for innovation-related issues where information asymmetries between the innovating firms and policymakers are important. This workshop intends to provide an overview of the literature on corporate political activities and innovation strategy. Special attention will be paid to open questions and opportunities for future research.