Hold or hurry? Speed of imitation of rivals' innovations in changing technological landscapes

Firms seeking fast-mover advantages often confront a critical challenge: not only whether to imitate rivals' innovations but also how quickly to do so. Fast imitation, however, entails risks, particularly in highly uncertain environments. By bridging information-based and rivalry-based theories of imitation with the technological change literature, we investigate how firms adjust their speed of imitation of rivals' technological innovations during periods of technological transition and technological stability. Using a database of 9060 mobile phones and 156 mobile-phone-related technological innovations introduced from 1992 to 2019, we find that a firm's speed of imitation is lower during periods of technological transition following a technological discontinuity compared to periods of technological stability where a dominant design is established. Furthermore, we find that the relationship between technological transitions and a firm's speed of imitation is shaped by three moderating factors: the firm's pioneering orientation, the relative market share position of the technology pioneer, and the visibility of the technological innovation. Our study contributes to the imitation and technological change literature by providing a nuanced understanding of the trade-offs associated with speed of imitation in the context of industry-wide technological shifts.