TY - JOUR AU - Saltorato, Patrícia AU - Benatti, Glauco PY - 2017/04/20 Y2 - 2024/03/29 TI - The organizational restructuring performative act under shareholder value management ideology JF - Review of Business Management JA - Rev. Bras. Gest. Neg. VL - 19 IS - 64 SE - Articles DO - 10.7819/rbgn.v19i64.2875 UR - https://rbgn.fecap.br/RBGN/article/view/2875 SP - 263-288 AB - <p><strong>Purpose –</strong> This paper’s objective is to present the dynamics involving an<br />organizational restructuring process conducted in a Brazilian subsidiary<br />of a centenary American industrial corporation which claimed to be<br />seeking, by means of this process, to increase the value of the company’s<br />shares, but, which results reveal the distance between the promises and<br />outcomes of this process, unveiling the symbolic-performative nature<br />of such a process.</p><p><br /><strong>Methodology –</strong> The chosen research method was the case study. The<br />data collection involved the participant observation of a company<br />manager (2010-2015); the conduction of non-structured interviews to<br />the company’s managers, directors and CFO (2013-2015); documental<br />research to the company’s internal and public sources (2010-2015);<br />and bibliographical research to scientific papers, business press, market<br />analysts and specialized media (2010-2015).</p><p><br /><strong>Results –</strong> The narratives of success found in the company’s reports<br />portray the restructuring myth as a continuous strategy, through<br />which the company reinforces its efforts in delivering good results<br />to shareholders. And, despite the outcomes of the case study not<br />supporting these narratives, its performative nature legitimize the<br />company’s commitment to the SHV management ideology towards<br />stakeholders of the capital market, even in face of the adoption of antishareholders’<br />postures, such as anti-takeovers measures, the merging of<br />the CEO and Chairman positions, its CEO perks, etc.</p><p><br /><strong>Contributions –</strong> Paradoxically, although the researched company<br />operates under the cold logic of finances, and under pressure to create<br />shareholder value, it revealed to be subject to the dynamics in which<br />the search for symbolic legitimacy plays a decisive role in maintaining<br />its position within the hierarchy of the socially constructed field of<br />the Management in face of other stakeholders present in the field,<br />reinvigorating the precepts of Bourdieu’s Field Theory and the Neo-<br />Institutional Theory.</p> ER -