Advanced Search
MyIDEAS: Login to save this article or follow this journal

Restructurations et performances de l’entreprise:une méta-analyse

Contents:

Author Info

  • José Allouche

    ()
    (Université Paris 1 Panthéon-Sorbonne)

  • Patrice Laroche

    ()
    (Université de Nancy 2)

  • Florent Noël

    ()
    (Université Paris 1 Panthéon-Sorbonne)

Abstract

(VF)Les restructurations occupent une place centrale dans la vie des entreprises occidentales. Or, les preuves de leur capacité à améliorer ou redresser les performances restent ténues et la littérature empirique apporte des résultats ambigus et parfois contradictoires. Cet article a pour but d’explorer cette littérature en recourant aux outils de la méta-analyse. Il ressort de l’examen de 52 publications académiques que les restructurations ne se révèlent positives qu’à long terme et lorsque l’opération s’inscrit dans une reconfiguration de l’organisation. Par ailleurs, leur incidence sur les cours boursiers, contrairement à l’idée couramment admise, est plutôt négative, les marchés marquant leur méfiance à l’égard d’opérations trop simplistes et potentiellement révélatrices de difficulté. Il ressort de ces résultats que les restructurations ne sont efficaces qu’à la condition d’être mises en œuvre de façon proactive.(VA)Downsizing is now an important feature of western economies. However, their economic outcomes remain uncertain, as past academic empirical literature leads to ambiguous and sometimes contradictory results. This article aims at examining this literature using meta-analysis. It is shown from a 52-publication sample that downsizing leads to positive outcomes on the long run only, and when it is included in a wide organizational change process. Further, the effects of downsizing on shareholders’ wealth are negative, contrary to popular belief. Investors seem worried about too simplistic operations that may reveal previously unknown difficulties. Finally, our results show that downsizing is more about to be efficient when implemented in a proactive way.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://leg2.u-bourgogne.fr/rev/112146.pdf
Download Restriction: no

Bibliographic Info

Article provided by revues.org in its journal Revue Finance Contrôle Stratégie.

Volume (Year): 11 (2008)
Issue (Month): 2 (June)
Pages: 105-146

as in new window
Handle: RePEc:dij:revfcs:v:11:y:2008:i:q2:p:105-146.

Contact details of provider:
Web page: http://www.revues.org/

Order Information:
Email:

Related research

Keywords: restructurations; performance; méta-analyse; cours boursiers; downsizing; corporate performance; meta-analysis; stock prices.;

Find related papers by JEL classification:

References

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
as in new window
  1. Baily, Martin Neil & Bartelsman, Eric J & Haltiwanger, John, 1996. " Downsizing and Productivity Growth: Myth or Reality?," Small Business Economics, Springer, vol. 8(4), pages 259-78, August.
  2. Laroche, P., 2000. "What do Unions do to Productivity? A Meta-Analysis," Papers 2000-5, Groupe de recherche en économie financière et en gestion des entreprises, Universite Nancy 2.
  3. Espahbodi, Reza & John, Teresa A & Vasudevan, Gopala, 2000. " The Effects of Downsizing on Operating Performance," Review of Quantitative Finance and Accounting, Springer, vol. 15(2), pages 107-26, September.
  4. Michael J. Gombola & George P. Tsetsekos, 1992. "The Information Content of Plant Closing Announcements: Evidence From Financial Profiles and the Stock Price Reaction," Financial Management, Financial Management Association, vol. 21(2), Summer.
  5. Fama, Eugene F, 1970. "Efficient Capital Markets: A Review of Theory and Empirical Work," Journal of Finance, American Finance Association, vol. 25(2), pages 383-417, May.
  6. Richard W. Pouder & Hugh D. Hindman & R. Stephen Cantrell, 2004. "How Unions Affect Shareholder Wealth in Firms Announcing Layoffs," Journal of Labor Research, Transaction Publishers, vol. 25(3), pages 495-502, July.
  7. Patrick Sentis, 1998. "Performances à long terme et caractéristiques financières des entreprises qui réduisent leurs effectifs," Revue Finance Contrôle Stratégie, revues.org, vol. 1(4), pages 115-150, December.
  8. Diana R. Franz & Dean Crawford & Deborah J. Dwyer, 1998. "Downsizing, Corporate Performance, and Shareholder Wealth," American Journal of Business, Emerald Group Publishing, vol. 13(1), pages 11-20.
  9. Chris Doucouliagos & Patrice Laroche, 2007. "Unions and Profitability: A Meta-Analysis," Economics Series 2007_01, Deakin University, Faculty of Business and Law, School of Accounting, Economics and Finance.
Full references (including those not matched with items on IDEAS)

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Madina Rival, 2010. "Lobbying et restructurations," Post-Print halshs-00561806, HAL.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:dij:revfcs:v:11:y:2008:i:q2:p:105-146.. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Gérard Charreaux).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.