Ownership, Managerial Motivation and Cultural Change

Sebastian Green and Dean F. Berry
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Sebastian Green: University College
Dean F. Berry: The MAC Group

Chapter 8 in Cultural, Structural and Strategic Change in Management Buyouts, 1991, pp 177-199 from Palgrave Macmillan

Abstract: Abstract In Chapter 1, we discussed three factors — private ownership, the reconciliation of ownership and control, and capital structure — as being the key characteristics of MBOs likely to lead to changes in managerial motivation, corporate culture, and thence to strategy and performance after a buyout. A summary of the arguments made throughout Chapter 1 are represented in Figure 8.1 and Table 8.1 below. The fourteen propositions of Table 8.1 encapsulate most of the received wisdom on the subject. These have been drawn from empirical research; the higher journalism of such publications as Business Week, Fortune, the Financial Times and the Wall Street Journal; and the armchair speculation of other commentators, advisers and observers of the business scene.

Keywords: Cash Flow; Cultural Change; Capital Structure; Capital Gain; Parent Company (search for similar items in EconPapers)
Date: 1991
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-21559-1_8

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DOI: 10.1007/978-1-349-21559-1_8

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