history dependency is developed. Firms can accumulate knowledge by investing in R&D. As a benchmark without knowledge … experience by performing R&D the resulting effect of knowledge induces technological leaders to rest on their laurels which … ; innovation ; knowledge ; market structure …

with history dependency. Firms can accumulate knowledge by investing in R&D. As a benchmark I show that without knowledge … experience by performing R&D the resulting effect of knowledge induces technological leaders to rest on their laurels which … ; innovation ; knowledge ; market structure …

findings can be summarised along the following lines: knowledge stock has a significant positive impact on a firm … as a preferred target of R&D investment, suggests that firms in high-tech sectors are still far ahead in terms of the … ; knowledge stock ; panel data ; perpetual inventory method …