Little attention has been devoted to the question of how late movers overcome first-mover advantage and catch up with incumbents. We examine the role in catch-up of late movers' optimal resource allocation between innovation and imitation. Building on Nelson and Winter's (1982) technology...

We develop measures for technology decoupling and dependence between the U.S. and China based on combined patent data. The first two decades of the century witnessed a steady increase in technology integration (or less decoupling), but China’s dependence on the U.S. increased (decreased)...

This study examines the effects of technological mergers and acquisitions (M&A) on post-deal innovation and firm performance. We argue that technological M&A lead to an increase of the innovation output in terms of patent counts while non-technological deals do not. By using the novel matching...