Thirty Years' Evolution of Technological Capabilities and Competitive Advantage in a Chinese State-owned Equipment Manufacturer: A Corporate Governance Perspective
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This paper traces CNEGC's technological development of "introduction-imitation-innovation" in the past thirty years, which is the top state-owned equipment manufacturer in China, shows how its manufacturing capability and innovation capability improved, and examines the institutional and environmental factors which can explain these changes. Our study indicates that integrating efficient technological learning and sustainable right R&D is a vital path for China's State-owned equipment manufacturers as "latecomers". Perfect corporate governance, improving finance system, and the globalised vision and aspiration of CEO's play a crucial role in it.