FSU highlights theory on polarization and business uncertainty
FSU describes a theory by Michael Holmes and Jackson Nickerson about how partisan divisions and policy reversals may affect businesses.
What the record says
In an October 28, 2026 announcement, Florida State University highlighted a theory about political polarization and uncertainty for companies. FSU says the research was co-authored by its business professor Michael Holmes and Saint Louis University’s Jackson Nickerson and published in Strategic Management Review.
The theory examines “political adjustment costs,” which FSU describes as barriers to moving from one stable set of government policies to another. The researchers argue that partisan divisions can make legislation harder to pass and that greater use of executive actions raises the prospect of policy reversals between administrations.
According to the university’s account, Holmes also argues that businesses can face risks from participating in political fundraising when control of government changes. FSU highlighted the work ahead of the November 3 midterm elections.
Source details and supporting locations.
Practical next step
Read FSU’s summary for the researchers’ discussion and publication details.
Limits and what is not established
FSU’s announcement describes a theory and the researchers’ arguments about business risk.
Sources checked October 30, 2026. Later notices may change instructions or arrangements.
Original sources
Florida State University News: original information