论文部分内容阅读
管理层收购是产生于西方国家的一种新型并购制度,作为一种制度创新,MBO对于企业的有效整合、降低代理成本、优化社会资源配置等有着重大的意义。我国只是近年来才出现管理层收购,但是由于我国特殊的历史背景及相关制度的不健全,在实施管理层收购中出现了许多问题,引起了很大的争议。文章通过剖析我国管理层收购中的融资问题,提出了相应的解决问题的措施。
Management buy-out is a new type of merger and acquisition system that originated in Western countries. As an institutional innovation, MBO is of great significance for the effective integration of enterprises, reducing agency costs, and optimizing the allocation of social resources. China’s management buyout has only appeared in recent years. However, due to China’s special historical background and related systems, there have been many problems in the implementation of management buyouts, which has caused great controversy. The article analyzes the financing issues in China’s management buyouts and proposes corresponding solutions to the problems.