The organizational restructuring performative act under shareholder value management ideology

• Autor(a) principal: Saltorato, Patrícia
• Data de Publicação: 2017
• Outros Autores: Benatti, Glauco
• Tipo de documento: Artigo
• Idioma: eng; por
• Título da fonte: Revista Brasileira de Gestão de Negócios (Online)
• Texto Completo: https://rbgn.fecap.br/RBGN/article/view/2875
• topic: Performative organizational restructuring; financialization; Celebrity CEO; symbolism; myth.; Reestruturação organizacional performática; financeirização; CEO celebridade; simbolismo; mito.

Purpose – This paper’s objective is to present the dynamics involving anorganizational restructuring process conducted in a Brazilian subsidiaryof a centenary American industrial corporation which claimed to beseeking, by means of this process, to increase the value of the company’sshares, but, which results reveal the distance between the promises andoutcomes of this process, unveiling the symbolic-performative natureof such a process.Methodology – The chosen research method was the case study. Thedata collection involved the participant observation of a companymanager (2010-2015); the conduction of non-structured interviews tothe company’s managers, directors and CFO (2013-2015); documentalresearch to the company’s internal and public sources (2010-2015);and bibliographical research to scientific papers, business press, marketanalysts and specialized media (2010-2015).Results – The narratives of success found in the company’s reportsportray the restructuring myth as a continuous strategy, throughwhich the company reinforces its efforts in delivering good resultsto shareholders. And, despite the outcomes of the case study notsupporting these narratives, its performative nature legitimize thecompany’s commitment to the SHV management ideology towardsstakeholders of the capital market, even in face of the adoption of antishareholders’postures, such as anti-takeovers measures, the merging ofthe CEO and Chairman positions, its CEO perks, etc.Contributions – Paradoxically, although the researched companyoperates under the cold logic of finances, and under pressure to createshareholder value, it revealed to be subject to the dynamics in whichthe search for symbolic legitimacy plays a decisive role in maintainingits position within the hierarchy of the socially constructed field ofthe Management in face of other stakeholders present in the field,reinvigorating the precepts of Bourdieu’s Field Theory and the Neo-Institutional Theory.