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New industries emerge in increasingly complex spatial patterns that challenge existing explanations of industrial path creation. In particular, the case of latecomer regions building up industries in fields that are unrelated to their previous industrial capabilities is not well understood in the literature. This paper aims to address this gap by expanding on an analytical framework that draws on

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In the face of intense market competition, businesses often engage in M&A activities to rapidly enlarge their market penetration to strengthen their industry position, thereby gaining a competitive advantage and facilitating economies of scale, reducing per-unit costs of production and management. Through M&A activities, companies can share resources such as production facilities, research