我国企业制度变迁中MBO的应用困境分析

Analysis on Dilemma of MBO Application in China's Institutional Reformation of Enterprises

对于MBO与古典企业、现代企业以及后现代企业之间关系的研究,有助于深刻理解MBO在企业制度变迁中的积极效应。由于我国经济转型期的环境约束和产权约束,MBO的实践效应受到了制约与阻碍,从而使我国MBO的运行陷人困境。规范和完善交易规则,确保MBO交易的公开、公平、公正,是实现MBO并购效应的制度保障。

The research on the relationships between MBO and classical, modern and post-modern enterprises is helpful for us to understand more deeply the positive effects of MBO in the institutional reformation of enterprises. Owing to the constraints of both environment and property rights during China's transformation of economy, the practical effects of MBO have been restrained or baffled, and the MBO operation in China is in a dilemma. It is an institutional guarantee for the realization of the M&A effect of MBO to regulate and improve game rules to ensure the publicity, equity and impartiality of MBO transactions.