The work of UC3M Business Raffaele Morandi, and coauthors Andrea Fosfuri and Juan Santaló, from Bocconi University and IE Business School, has recently been accepted for publication by the Strategic Management Journal. The article "A Bird in the Hand is Worth Two in the Bush: Technology Search Strategies and Competition Due to Import Penetration" investigates how firms change the knowledge sourcing strategy for their R&D in response to increases in import penetration in the domestic market. In particular, their results show that in the years that immediately follow an increase in import penetration, firms tend to rely more on familiar knowledge in the development of innovations and less on knowledge sources that were not previously used. This switch in R&D strategy also appears to be temporary (reversed in later years), and positively associated with an increased likelihood of survival.