This
study focuses on understanding the co-evolution of MNE and institutional
environment. It builds a theoretical framework based on institutional logics
and co-evolution perspective. The paper takes the view point of an MNE and follows its development
through time in relation to industry development. Thus, the paper relies on historical analysis
of a retrospective single case study. The paper contributes to the discussion
on the role of active agency in institutional change by developing our
understanding on co-evolution of MNEs and institutional environment.