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Abstract Uncertainty caused by environmental disruptions and unexpected institutional changes critically affect R&D and innovation systems. Motivated by the recent rise of populist political parties worldwide, this study investigates the influence of country‐level populism on firm‐level innovation. Building on institutional theory, we find evidence that higher levels of populism impairs firms' innovation performance by generating institutional volatility. Moreover, this relationship weakens when a firm exports more, and strengthens when a firm is located in a right‐leaning country. We find empirical support for our hypotheses drawing on data from the Global Populism Database and the World Bank Enterprise Survey (24,375 firms from 38 countries). Our findings provide new insights for corporate strategy and R&D activities in unstable and disruptive political contexts.
Xiong et al. (Thu,) studied this question.
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