This conceptual article discusses and, from some aspects, also problematizes the state-of-the-art regarding co-evolutionary research in Management and Organization Studies (MOS). Analyzing 76 characteristic studies published since 2000, we address three simple, signifi-cant questions: What co-evolves? What causal relationships are considered? What are the theoretical processes? The motivation behind our contribution is twofold: on the one hand, the turn of the century witnessed the remarkable growth of inquiries which, at face value, have claimed to be “co-evolutionary”; but, on the other hand, specific analyses about where this fast-growing meta-theoretical perspective on social change is now, and where it could move towards in the future,...