政治行動主義對企業創新能力有影響嗎？

Does Political Activism Matter for Firm Innovation Capability?

本研究以臺灣2008年至2019年間立法委員之選舉，探討企業從事政治行動主義對其創新能力的影響。藉由企業對立法委員捐贈之獻金作為政治行動主義之衡量，本研究實證結果顯示，企業透過政治獻金支持立法委員候選人所進行的政治行動主義與創新活動呈負向關係，且資訊電子產業公司提供較多的政治獻金會加劇與企業創新能力之負向關係，顯示出排擠效應與政治資源詛咒會影響公司政治行動主義現有形式價值，進而阻礙了公司的創新。

This study examines the impact of firms’ engagement in political activism on their corporate innovation capability, focusing on listed firms in Taiwan and analyzing legislative elections from 2008 to 2019. This study finds that firms’ political activism, as indicated by support for legislative candidates through political donations, is negatively associated with corporate innovation activities. Furthermore, the negative impact on innovation capability is more pronounced in electronics firms that make political donations. These findings suggest that crowding-out and the political resource curse reduce the benefits of corporate political activism, thereby hindering innovation.