Exploration is both a risky activity and a key ingredient in the strategy of firms that strive for radical innovations. This paper investigates a dual facet of the exploratory component of R&D activities with regards to innovation failures: while exploration increases firms’ exposure to...

The purpose of the paper is to examine the relationship between technological diversification and internationalisation of technology for large multinational firms, operating at the world technological frontier. More precisely we address the question as to whether internationalisation determines...