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R&D exploration or exploitation? How firms respond to import competition

Phys.org
 2021-06-02

Cover picture for the articleDo firms respond to tougher competition by searching for completely new technological solutions (exploration), or do they work to defend their position by improving current technologies (exploitation)?. Competition from increased import penetration generally results in tight profit margins, low prices, and strong efficiency pressures, immediately affecting firms' bottom lines in...

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