对于管理层收购的思考

THE THINGKING OF MBO

随着我国加入世界贸易组织及社会主义市场经济体制的进一步确立,我国企业中存在的一些问题进一步凸现。于是,管理层收购被引进了国内,在明晰产权、降低代理成本、激励管理层等方面起到了积极作用。但是,实施以来也出现了很多问题,如收购价格不合理、融资渠道少、信息不对称等。

Joining WTO and along with the gradually establishment of our socialism market economy systems, the existing problems in our enterprise come further. So,Management Buy-out, (MBO) was brought in as the kind of new business enterprise, but appears many serious problems since it comes practice. The article will proceed thorough theories analysis Management Buy-outs, and will produce the system of introduction of its characteristic. Pointing out it will rise positive function in clearing in meaning Property Right, lowing agency cost, encouraging manage layer etc. Discuss easily output problems of practice of practice of the Management Buy-out in Chinese business enterprise, such as the unreasonable procure price ,the lacks of margin outlet, information dissymmetry . joining together the problems inpuire the solution , put forward the related suggestions and counter-plans