上市公司的隐性MBO及其治理

上市公司MBO一直是市场关注的焦点。为了规范上市公司MBO行为,监管机构制定了一系列的法律法规。而在实施MBO的过程中,管理层则利用各种手段来规避这些法律义务。本文首先对上市公司MBO实例进行了分析,指出了上市公司隐性MBO的手段。然后针对这些手段提出了几种治理对策。即政府应该明确可以实施MBO的范围,完善MBO相关法规体系和建立市场监督机制。

Listed Company's Implicative MBO and Its countermeasures

MBO of listed company has always been the focal point which shareholders concern on the stock market. In order to regulate the process of MBO, government and supervision organizations have laid out a series of laws and administrative rules. However, the management authority used all kind of artifices to evade the legal obligations in the course of MBO. Firstly, the thesis analyzes some cases of MBO, and points out several ticks which the listed companies played in the practice of MBO. Then it puts forward several suggestions: the government should clarify the scope for the enforcement of MBO; perfect relevant legitimate system and establish a perfect market-monitoring system.