中国管理层收购(MBO)的利弊研究

管理层收购(MBO)在解决我国上市公司产权结构缺陷,促进公司的完善治理及建立有关的激励机制中发挥了重要作用。但由于它在我国处于起步阶段,还存在着不足和不完善的地方。本文通过对中国管理层收购的利弊分析,认为在对它实行规范和监管的同时,应结合中国实际国情并结合西方管理层收购经验不断探索和创新,以规范和促进中国管理层收购的健康发展。

Research into the Advantages and Disadvantages of Management Buy-Out in China

Management Buy-Out(MBO) plays an important part in solving defects of property rights structure, promoting consummation and administration, and establishing relevant motivating mechanism in Chinese companies. This strategy has weakness in its starting stage. Through research into the advantages and disadvantages of MBO in China, the thesis proposes the perfection of MBO lie in the combination of Chinese situation and successful experiences from the developed countries. In addition, to standardize and propel the development of MBO in China, the government should establish and improve the jural system to regulate and supervise MBO.