(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.
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Volume (Year): 11 (2008) Issue (Month): 2 (June) Pages: 105-146 Download reference. The following formats are available: HTML
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