Purpose – Through examining the development of the video compact disc player industry in China, this article aims to explore the main characteristics of world‐first innovation and identify four success factors for innovation followers to launch world‐first products in catching‐up...

Globalization has led to the decentralization of research and development (R&D) activities by multinational enterprises (MNEs). Investment in these activities is affected by both the host-country environment and the investment strategies of the entrant MNEs. Using data on greenfield R&D...