中国版MBO:基于中国上市公司案例的研究

CHINA'S MBO: THE RESEARCH BASED ON THE CASES OF THE CHINESE PUBLIC COMPANIES

MBO作为现代企业制度的反叛,又是一种创新。它是现代中国经济的最热门话题之一,是目前国有资产退出方式的又一新尝试。文章由中外MBO的产生渊源引出,通过粤美、胜利、宇通三家上市公司实施MBO过程研究,并对比西方MBO的操作方式差异,将中国版MBO所表现出来的“中国特色”逐一突现。最后展望随经济的发展,环境的成熟,中国的MBO将会是“典型”的MBO!

MBO is a betrayer of modern enterprise institution. However, it is also an innovation. Nowadays,MBO is one of the most popular economic topics in China and it is also a new way for government to withdraw state-owned assets. After the introduction of the history of MBO, The article focuses on the analysis of operating processes of the MBO of the three Chinese public companies as Yuemei,Shengli,Yutong. Compared with the Western MBO, The article studies the differences and lists all the special traits of China's MBO one by one. At the end of the paper, Author supposes, with the development of economy, the MBO in China will be a standard one.