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It is increasingly accepted that 'institutions matter' for economic organization & outcomes. This text explores the issues perspectives, & models, concerned with comparative institutional analysis. The leading scholars in the area contribute chapters to provide a central reference point for academics, scholars, & students.

It is increasingly accepted that 'institutions matter' for economic organization & outcomes. This text explores the issues, perspectives, & models, concerned with comparative institutional analysis. The leading scholars in the area contribute chapters to provide a central reference point for academics, scholars, & students

It is increasingly accepted that 'institutions matter' for economic organization and outcomes. This Handbook explores the issues, perspectives, and models concerned with comparative institutional analysis. The leading scholars in the area contribute chapters to provide a central reference point for academics, scholars, and students.

It is increasingly accepted that 'institutions matter' for economic organization & outcomes. This text explores the issues, perspectives, & models, concerned with comparative institutional analysis. The leading scholars in the area contribute chapters to provide a central reference point for academics, scholars, & students

Purpose– This paper aims to apply internalization theory in the context of economic efficiency-driven institutions interacting with societal institutions that pursue broader goals.Design/methodology/approach– The analysis builds upon Buckley and Boddewyn's (2015, this issue) recent work on the perceived need for multinational enterprises (MNEs) to supply public goods outside of their sphere of technical competences. This paper proposes a more restrictive approach: external markets will only be internalized if, on balance, the efficiency benefits of internalization outweigh its costs at the firm level, in line with orthodox internalization theory.Findings– MNEs replacing the activities of failing (or even absent) public sector institutions is a business phenomenon commonly observed in less developed economies. However, positive distributional effects and societal externalities without the required efficiency benefits at the firm level are insufficient for MNEs' supply to occur.Practical implications– Managerial decisions in the internalization sphere will be guided by the transactional characteristics of the MNEs' firm-specific advantages (FSAs) and the requisite complementary resources held by host country economic actors. Internalization theory thinking suggests applying various, specific principles to assess in a comparative institutional fashion whether "diversification" into supplying public goods will serve the MNEs' efficiency goals, namely, the "cost of entry" test, the "better-off" test and the "value capture" test.Originality/value– Internalization theory provides a solid, efficiency-driven rationale to guide MNE choices on which activities the firm will conduct internally. The nature of the MNEs FSAs and the most efficient, feasible option to bundle firm-level resources and locally held resources in host environments are critical to these choices.

Abstract
The discussion on 'The comparative institutional analysis of energy transitions' gives us a state-of-the-art overview of the main theoretical and conceptual developments within the field of political economy. It invites us to broaden our knowledge on the changing realities of different geographical regions in energy transition. In this discussion forum, Finnegan discusses emerging themes in the comparative political economy literature of climate change. He identifies gaps and offers an outline for further research. Allen, Allen, Cumming and Johan take a closer look at the links between different types of capitalism and the natural environment. The authors stress the importance of adopting an institutional perspective to explain differences in environmental outcomes. Wood compares the transitions of energy usage and mixes between liberal and coordinated market economies from a historical perspective. He looks for parallels between the energy transition from coal to oil and gas to the current renewables. Nicklich and Endo answer the question 'Do globalization and globally perceived occurrences of environmental problems lead to a convergence of energy supply?'. They compare the fields of German and Japanese wind power with a particular focus on Greenpeace after the Fukushima disaster in 2011. Finally, Lim and Tanaka focus on the question 'When do energy transition policies enjoy broad-based acceptance?'. They conclude that the public acceptance of energy transition varies between Western and non-Western societies.