I run a small publishing company, mostly with text books here in Taiwan and in Korea. I've also attempted to publish my own fiction in the US through other publishers, but without any good results.
My advice is, if it's your first time out, do whatever is asked of you, as long as it is within reason. Many new authors are too defensive to let anyone change anything they've written. Usually, however, with any kind of academic writing, although one or two names may appear on the work, it's actually the result of a group effort. You could give credit to all those who advised you in some blurb somewhere, which is polite but not necessary.
As an editor, I try not to rewrite someone else's work in my own words. I just make changes to the content to improve on clarity. Clarity, to me, is more important than trying to impress someone with lots of bull. However, I've worked under editors who think they are invincible and will actually want you to rewrite what you wrote in their own words, without telling you how they write. Simply insane. In fact, I have my name on a book that I probably only wrote 30% of, when you consider all the things the editor wanted in there! Feels a bit weird. When I joked about co-authoring the book, he shrugged and asked if I was just hoping to sell more copies.
Once you're gotten more established, then you'll get the chances to write with more freedom. It's just all part of paying your dues.