Political Ideology and Corporate Innovation: Evidence from the Expansion of a Local TV Network
57 Pages Posted: 22 Jun 2021 Last revised: 8 Apr 2022
Yuqi Gu
Willamette University Atkinson Graduate School of Management
Mahsa Kaviani
University of Delaware
Lily Li
Villanova University
Hosein Maleki
Florida State University - College of Business
Connie X. Mao
Temple University - Fox School of Business and Management; Temple University - Department of Finance
Date Written: May 1, 2021
Abstract
We examine whether political ideology affects corporate innovation using the staggered expansion of the largest conservative media network in the U.S., Sinclair Broadcasting Group. Upon Sinclair entry into a TV market, the local firms' innovation output falls. The quality of new patents as measured by the number of their citations, originality, and market-based economic value deteriorates significantly. The effect is predominantly driven by the departure of innovative talent from affected firms. Consistent with this mechanism, we find larger effects in states with higher human capital mobility, measured by weaker state-wide enforceability of non-competition laws.
Keywords: media influence, political ideology, innovation, human capital mobility
JEL Classification: D72, J24, L82, J61, O31
Suggested Citation: Suggested Citation
Yuqi Gu
Willamette University Atkinson Graduate School of Management ( email )
Salem, OR 97301
United States
Mahsa Kaviani
University of Delaware ( email )
20 Orchard Rd, Newark, DE
Newark, DE 19716
United States
Lily Yuanzhi Li
Villanova University ( email )
United States
Hosein Maleki (Contact Author)
Florida State University - College of Business ( email )
423 Rovetta Business Building
Tallahassee, FL 32306-1110
United States
Connie X. Mao

Temple University - Fox School of Business and Management ( email )
416 Alter Hall
Philadelphia, PA 19122
United States
215-204-4895 (Phone)
215-204-1697 (Fax)

Temple University - Department of Finance ( email )
Fox School of Business and Management
Philadelphia, PA 19122
United States
215-204-4895 (Phone)
215-204-1697 (Fax)
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