EMNE catch‐up strategies in the wind turbine industry: Is there a trade‐off between output and innovation capabilities?
比较一家领先发达经济体跨国公司与一家快速追赶的新兴经济体跨国公司在风电行业的知识基础，发现后者在产出能力上已追赶上来，但创新能力仍落后，说明产出能力提升不一定带动创新追赶。
Emerging economy multinationals (EMNEs) are catching up with advanced economy MNEs (AMNEs) even in emerging, high technology industries, where their knowledge‐based disadvantages are most severe. We explain this phenomenon by distinguishing between output and innovation capabilities. Successful EMNEs' focus on output capabilities need not facilitate innovation catch‐up. We compare the knowledge bases of an industry‐leading AMNE and a fast‐follower EMNE using patent data, buttressed by qualitative information. The AMNE's knowledge base is deeper and composed of more distinct technology groups than that of the EMNE. The EMNE has caught up in terms of output capabilities, but still lags in terms of innovation capabilities. Our in‐depth comparative case analysis contributes to the literature on knowledge strategies and their impact on firm capabilities.