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As part of the debate about globalization and regionalization, this paper adds a perspective that has so far remained underexposed, that of (formerly state-owned) firms in (previously) regulated industries, in order to better understand the (changing) role of the home country/region in internationalization processes in the context of regional market liberalization. This paper explores the global/regional orientations of the seven major EU electric utilities from five different home countries, which are active in both fossil-fuel and renewable energy generation. Using a multiple case study design, we collected internationalization/regionalization data from firms' annual reports for the years 2000, 2005 and 2010, supplemented with an analysis of secondary sources. Firms show a clear pattern of increasing internationalization away from the home-country market, coupled with a home-region orientation for traditional generation activities, which differs from the more international, wider and often multiple regional presences in the newer renewables business for some firms. Institutional factors are argued to play an important role in both processes. Findings suggest distinct regionalization patterns for business units and different FSAs, with strategic opportunities related to asset positions. Home-country effects may be linked to a heterogeneous firm-specific home-region liability of foreignness, resulting in incomplete home-region internationalization in most cases.

Purpose -Although the crucial role of business, and of business-based approaches, in development is increasingly emphasised by academics and practitioners, we lack insight into the 'whether and how' of viable business models, in environmental, social and economical terms. This article analyses private-sector involvement in development, including a business perspective of firm-level factors, taking the case of sustainable energy in developing countries. Design/methodology/approach -In the framework of the international business and development debate, we examine the 'state of the art' on sustainable energy and business involvement, and present our own research on illustrative cases from local companies involved in renewable, off-grid rural electrification. Implications are discussed, viewed from the broader perspective of business models. Findings -Existing studies on sustainable energy take macro-economic and/or policy-oriented approaches, containing specific case studies of rural electrification and/or recommended financing/delivery models. We categorize them on two dimensions (levels of subsidies and public/private involvement) and conclude that market-based models operating without subsidies do hardly exist in theory -and also not in practice, as our study shows that companies can at best have part of their portfolio non-subsidized based on customer segmentation or require socially-oriented investors/funders. Research limitations/applications -This exploratory study can be a starting point for further indepth analyses. Practical implications -The article outlines challenges faced by companies/entrepreneurs when aiming for viable business models, and provides insights to policy-makers who want to further the role of business in sustainable (energy) development. Societal implications -Sustainable energy and development are crucial and interlinked issues highly relevant to global society, as exemplified by the UN year of Sustainable Energy for All and Rio+20. Originality/value -The article contributes new dimensions and perspectives that have been left unexplored, and that are crucial for reducing poverty and stimulating sustainable (energy) development. Keywords -access to energy; business models; developing countries; electricity; off-grid; poverty; renewables; rural electrification; sustainable development; sustainable energy ACKNOWLEDGEMENT This article is one of the publications resulting from a longer-term research programme on business and development, and on partnerships. A part of the latter line of research (related to partnerships for sustainable development) has been carried out together with the Partnerships Resource Centre (see Pinkse, 2010a, 2010b;Van den Buuse et al., 2012).

As part of the growing interest in cities to address persistent sustainability issues in society, 'smart cities' have increasingly become a ubiquitous phenomenon globally. For multinational enterprises (MNEs), this has provided opportunities to develop and market technological innovations to facilitate the creation of smart cities, given that the deployment of information and communication technology (ICT) is commonly considered to be a central tenet of smart cities. This paper explores the strategic approaches of three MNEs from the ICT industry (IBM, Cisco, and Accenture) as suppliers of 'smart city technologies', rooted in an international business perspective. Based on qualitative data collected from semi-structured interviews and documentation on firm activities related to smart cities, our study offers two contributions. First, the empirical analysis provides insight into how MNEs have developed resources and capabilities in the smart city realm from a multitude of smart city engagements globally, and shows how firm-specific strategies and programmes for smart cities (IBM Smarter Cities, Cisco Smart + Connected Communities, and Accenture Intelligent Cities) have facilitated this process. Second, it provides an actor-centric perspective on the (potential) role of business in the emergence and spread of technological innovations for urban development, helping to address the need for further insights into (smart) cities and stakeholder involvement in sustainability transitions. 'smart city technologies' for resource-efficiency in cities.We embed our analysis in international business research, a field in