This paper explores whether and how an important environmental issue such as climate change can not only give multinational enterprises the opportunity to develop “green” firm-specific advantages (FSAs), but also help reconfigure key FSAs that are viewed as the main sources of firms'...

This paper explores how climate change affects multinational enterprises (MNEs), focusing on the challenges they face in overcoming liabilities and filling institutional voids related to the issue. Climate change is characterized by institutional failures, because there is neither an enforceable...