We examine whether political corruption impedes innovation. Using a comprehensive sample of US firms, we find that corruption has a substantial, negative relation with the quantity and quality of innovation. These results are robust to using various fixed effects, proxies for corruption and...

I examine whether housing cost growth predicts regional innovation. Rising housing costs could boost innovation by providing entrepreneurs more home equity to borrow against. Conversely, higher housing costs could (1) constrain self-funded entrepreneurs who rent housing and/or (2) discourage the...

This study explores the association between firm innovation and loan covenant strictness. We find that lenders construct stricter contracts for firms filing more patents, consistent with lenders imposing more oversight on firms when they enter the commercialization stage after having...