The organizational restructuring performative act under shareholder value management ideology
Autor(a) principal: | |
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Data de Publicação: | 2017 |
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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 |
Resumo: | 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. |
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The organizational restructuring performative act under shareholder value management ideologyEl acto performativo de la reestructuración organizacional según la ideología de la gestión basada en el valorO Ato Performático da Reestruturação Organizacional sob a Ideologia de Valorização do Acionista em um Estudo de Caso Brasileiro sobre FinanceirizaçãoPerformative organizational restructuringfinancializationCelebrity CEOsymbolismmyth.Reestruturação organizacional performáticafinanceirizaçãoCEO celebridadesimbolismomito.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.Objetivo – O objetivo do artigo é apresentar a dinâmica envolvendo umprocesso de reestruturação organizacional conduzido em uma subsidiáriabrasileira de uma grande e centenária corporação industrial americanaque argumentava buscar, por meio desse processo, a valorização dasações da empresa, mas cujos resultados destacam a dissonância entreas promessas e os resultados de tal processo, explicitando seu carátersimbólico-performático.Metodologia – O método de estudo utilizado foi o estudo de caso.A coleta de dados envolveu a participação observante de um gerenteda empresa (2010-2015); a realização de entrevistas não estruturadasa gerentes, diretores e ao CFO da empresa (2013-2015); a pesquisadocumental a fontes documentais internas e públicas da empresa(2010-2015); a pesquisa bibliográfica a artigos científicos, imprensade negócios, analistas de mercados e mídia especializada (2010-2015).Resultados – As narrativas de sucesso encontradas nos reportes dacompanhia retratam o mito da reestruturação como uma estratégiacontínua por meio da qual a empresa reforça seus esforços na entregade bons resultados aos acionistas. E, apesar dos resultados do estudo decaso não corroborarem tais narrativas, seu caráter performático legitimao engajamento da empresa em prol da ideologia da gestão baseada emvalor perante os atores do mercado de capitais, ainda diante da adoçãode posturas anti-shareholders, como medidas anti-takeovers, a unificaçãodas posições de CEO e chairman, as regalias do CEO da empresa etc.Contribuições – Paradoxalmente, a empresa pesquisada, apesarde operar sob a lógica fria das finanças e pressionada pela criaçãode valor ao acionista, se revelou sujeita a uma dinâmica na qual abusca por legitimidade simbólica desempenha um papel decisivo namanutenção de sua posição dentro da hierarquia do campo socialmenteconstruído do management frente aos demais atores presentes ao campo,revigorando os preceitos da Teoria de Campo de Bourdieu e a TeoriaNeo-Institucionalista. FECAP2017-04-20info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionAvaliado por paresapplication/pdfapplication/pdfhttps://rbgn.fecap.br/RBGN/article/view/287510.7819/rbgn.v19i64.2875Review of Business Management; Vol. 19 No. 64 (2017); 263-288RBGN Revista Brasileira de Gestão de Negócios; Vol. 19 Núm. 64 (2017); 263-288RBGN - Revista Brasileira de Gestão de Negócios; v. 19 n. 64 (2017); 263-2881983-08071806-4892reponame:Revista Brasileira de Gestão de Negócios (Online)instname:Fundação Escola de Comércio Álvares Penteado (FECAP)instacron:FECAPengporhttps://rbgn.fecap.br/RBGN/article/view/2875/pdfhttps://rbgn.fecap.br/RBGN/article/view/2875/pdf_1Copyright (c) 2017 Review of Business Managementinfo:eu-repo/semantics/openAccessSaltorato, PatríciaBenatti, Glauco2021-07-21T16:23:55Zoai:ojs.emnuvens.com.br:article/2875Revistahttp://rbgn.fecap.br/RBGN/indexhttps://rbgn.fecap.br/RBGN/oai||jmauricio@fecap.br1983-08071806-4892opendoar:2021-07-21T16:23:55Revista Brasileira de Gestão de Negócios (Online) - Fundação Escola de Comércio Álvares Penteado (FECAP)false |
dc.title.none.fl_str_mv |
The organizational restructuring performative act under shareholder value management ideology El acto performativo de la reestructuración organizacional según la ideología de la gestión basada en el valor O Ato Performático da Reestruturação Organizacional sob a Ideologia de Valorização do Acionista em um Estudo de Caso Brasileiro sobre Financeirização |
title |
The organizational restructuring performative act under shareholder value management ideology |
spellingShingle |
The organizational restructuring performative act under shareholder value management ideology Saltorato, Patrícia Performative organizational restructuring financialization Celebrity CEO symbolism myth. Reestruturação organizacional performática financeirização CEO celebridade simbolismo mito. |
title_short |
The organizational restructuring performative act under shareholder value management ideology |
title_full |
The organizational restructuring performative act under shareholder value management ideology |
title_fullStr |
The organizational restructuring performative act under shareholder value management ideology |
title_full_unstemmed |
The organizational restructuring performative act under shareholder value management ideology |
title_sort |
The organizational restructuring performative act under shareholder value management ideology |
author |
Saltorato, Patrícia |
author_facet |
Saltorato, Patrícia Benatti, Glauco |
author_role |
author |
author2 |
Benatti, Glauco |
author2_role |
author |
dc.contributor.author.fl_str_mv |
Saltorato, Patrícia Benatti, Glauco |
dc.subject.por.fl_str_mv |
Performative organizational restructuring financialization Celebrity CEO symbolism myth. Reestruturação organizacional performática financeirização CEO celebridade simbolismo mito. |
topic |
Performative organizational restructuring financialization Celebrity CEO symbolism myth. Reestruturação organizacional performática financeirização CEO celebridade simbolismo mito. |
description |
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. |
publishDate |
2017 |
dc.date.none.fl_str_mv |
2017-04-20 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Avaliado por pares |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
https://rbgn.fecap.br/RBGN/article/view/2875 10.7819/rbgn.v19i64.2875 |
url |
https://rbgn.fecap.br/RBGN/article/view/2875 |
identifier_str_mv |
10.7819/rbgn.v19i64.2875 |
dc.language.iso.fl_str_mv |
eng por |
language |
eng por |
dc.relation.none.fl_str_mv |
https://rbgn.fecap.br/RBGN/article/view/2875/pdf https://rbgn.fecap.br/RBGN/article/view/2875/pdf_1 |
dc.rights.driver.fl_str_mv |
Copyright (c) 2017 Review of Business Management info:eu-repo/semantics/openAccess |
rights_invalid_str_mv |
Copyright (c) 2017 Review of Business Management |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf application/pdf |
dc.publisher.none.fl_str_mv |
FECAP |
publisher.none.fl_str_mv |
FECAP |
dc.source.none.fl_str_mv |
Review of Business Management; Vol. 19 No. 64 (2017); 263-288 RBGN Revista Brasileira de Gestão de Negócios; Vol. 19 Núm. 64 (2017); 263-288 RBGN - Revista Brasileira de Gestão de Negócios; v. 19 n. 64 (2017); 263-288 1983-0807 1806-4892 reponame:Revista Brasileira de Gestão de Negócios (Online) instname:Fundação Escola de Comércio Álvares Penteado (FECAP) instacron:FECAP |
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Fundação Escola de Comércio Álvares Penteado (FECAP) |
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FECAP |
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FECAP |
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Revista Brasileira de Gestão de Negócios (Online) |
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Revista Brasileira de Gestão de Negócios (Online) |
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Revista Brasileira de Gestão de Negócios (Online) - Fundação Escola de Comércio Álvares Penteado (FECAP) |
repository.mail.fl_str_mv |
||jmauricio@fecap.br |
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