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Les représentations professionnelles en question. Le cas des intermédiaires dans les fusions-acquisitions

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In this paper, the authors propose an analysis of intermediaires financiers, en particular travailleurs, and en particulier comprendre leur representation professionnelle des entreprises qu’ils participent a vendre ou a acheter.
Abstract
Resume Un secteur de la finance, peu connu du grand public, a pourtant une activite en forte croissance depuis trente ans. Il est connu sous l’anglicisme « M&A » (Mergers and Acquisitions), ou « fusac » (fusions-acquisitions) en francais. Il est specialise dans la realisation d’achat ou de vente d’entreprises. Les intermediaires accomplissant ces transactions ne sont pas proprietaires des entreprises qu’ils vendent ou achetent. Ils realisent un ensemble de tâches socialement divisees et organisees et possedent des savoir-faire specifiques. Cet article se propose d’analyser ces intermediaires financiers, en tant que travailleurs, et en particulier de comprendre leur representation professionnelle des entreprises qu’ils participent a vendre ou a acheter. Nous montrons que les travailleurs de ce secteur partagent une representation marchande, quantitative et abstraite des entreprises vendues et achetees. A travers une analyse de l’activite, de la rhetorique professionnelle, des processus de socialisation ainsi que de la dynamique des carrieres, l’article montre comment l’homogeneite de cette representation est construite et maintenue.

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References
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Frequently Asked Questions (10)
Q1. What contributions have the authors mentioned in the paper "Questioning professional representations. the role of middlemen in mergers and acquisitions" ?

Boussard et al. this paper investigated the role of middlemen in mergers and acquisitions in the financial sector. 

The third test in the professional socialisation of the young employees concerns emotional regulation and is manifested by their ability to detach themselves emotionally from their work. 

The purchase and subsequent resale of companies enables the remuneration of capital by the added value that the companies are expected to bring. 

in order to be deemed a good financial intermediary when under the age of 30, the employee must demonstrate competency in the handling of figures. 

A second facet of their work consists of organising and guiding the younger employees into producing quantitative analyses and material for oral presentations to be delivered to customers, in the expected timeframes. 

Becker emphasise in their research, at the heart of the socialisation process, the professional role expected of the employee can be very different to that which they had envisaged as an applicant, bringing about crises and dilemmas. 

Whether they be from the media, politicians or the public, these critiques are rooted in a representation of the company viewed as a complex space where matters of common sense, health (of the employees as well as the consumers and citizens), the spreading of wealth and social regulation take place. 

Indeed in this professional space that is so enlivened by the spirit of commercial competition, the operational consequences for the companies that have been sold/resold/merged are not discussed. 

They are, on one hand, financial executives and chief financial officers of companies acting on behalf of their shareholders (or themselves, when they are the owners) and, on the other hand, “heads of investment” of investment funds acting on behalf of the investors in these funds4. 

In the case of investment banks the hierarchical structure usually follows this pattern: Analyst, Associate, Vice-President, Executive Director & Managing Director, whereas the hierarchy in an auditor’s firm is usually: Junior Analyst, Senior Analyst, Manager, Senior Manager & Partner.