This study focuses on understanding the co-evolution of a firm and its
institutional environment. Theoretically, the study is based on institutional
logics and a co-evolution perspective. The study takes the viewpoint
of a Finnish pharmaceutical MNE and follows its development
through time period of 1917–2007 in relation to its industry’s development.
Thus, the study relies on a historical analysis of a retrospective
single-case study. The study contributes to the business history literature
by demonstrating the change of complexity and structure as a
mechanisms of institutional logics change between multiple levels
(global industry, national industry, and organisation).