This dissertation examines regulation in nascent industries. While scholars and industry experts emphasize the importance of a favorable regulatory environment for industry growth, particularly the regulatory uncertainty that is often prevalent during the early phases is known to affect firms' strategic behavior. By focusing my analyses on the U.S. drone industry, I conducted three different studies providing insights into market entry, innovation, and corporate political strategy of firms in nascent industries where the regulatory framework is yet to be fully developed: (1) An examination of...