checkpoints: innovation capability, world-class big businesses, and inequality. Based on these criteria, our conclusions are as …

Schumpeterian competition in which incumbents and latecomers compete with innovation and imitation R&D. First, the results suggest … opposing effects exist by exploring latecomers' R&D allocation between innovation and imitation. The results highlight that …

incumbents. We examine the role in catch-up of late movers' optimal resource allocation between innovation and imitation … either imitation or innovation deters technological leadership change by late movers in the long run, since the leading firms … allocate more R&D resources to innovation and attempt technological leapfrogging. This transition from imitation to innovation …

We examine the role of latecomers’ optimal resource allocation between innovation and imitation in latecomers’ catch … leadership change. The results suggest that one-sided dependency upon either imitation or innovation deters technological … technological gap decreases, they should allocate more R&D resource to innovation. We also examine the role of several variables …