Management control systems and strategy change in buyouts教程.pdfVIP

Management Accounting Research 15 (2004) 155–177 Management control systems and strategy change in buyouts Hans Bruining a,∗ , Marcel Bonnet a , Mike Wrightb a Department of Business and Organisation, Rotterdam School of Economics, H1 5-26, Erasmus University, P.O. Box 1738, 3000 DR Rotterdam, The Netherlands b Centre for Management Buy-out Research, Nottingham University Business School, Erasmus University, Nottingham, The Netherlands Received 31 December 2002; accepted 10 March 2004 Abstract The impact of management buy-outs (MBO) on strategy and management control systems (MCS) is little under- stood. Previous research by [Ace. Org. Soc. 17 (1992) 151] focused on efficiency-enhancing buy-outs that were a feature of the early development of the market. However, MBOs are heterogeneous and more recent developments have involved ownership changes that stimulate entrepreneurial practices. The novel contribution of this paper is to use Simons’ [Levers of Control: How Managers Use Innovative Control Systems to Drive Strategic Renewal, Harvard Business School, Cambridge, MA, USA] classification of beliefs systems, boundary systems, diagnostic and interactive control systems to explore management control in these newer forms of MBO. Within-case analysis and cross-case comparisons from two buyout firms are used to capture the interaction between management control systems and competitive strategy formulation, implementation and modification. This evidence supports arguments that buy-out managers undertake efforts in balancing the traditional systems with the newer systems that stimulate opportunity-seeking and learning. © 2004 Elsevier Ltd. All rights reserved. Keywords: Management control systems; Strategy change; Management buyouts 1. Introductio