In this paper we consider Southeast

In this paper we consider Southeast Asian Family Business Groups (FBGs) as a form of business enterprise as well as existing theoretical accounts of their behaviour. To do so, we develop and describe a co-evolutionary framework that incorporates notions of interdependence, path dependence, and `system openness.' This co-evolutionary framework is used to anchor a case study describing the developmental paths of FBGs and their institutional environments. Because such neoevolutionary perspectives bring back into account adaptive behavior motivated by human agency and interests, they offer a promising means of capturing the dynamics (Fligstein and Freeland 1995) and complexity (Baum and Singh 1994) of the interaction between institutions and organizations.