摘要
本论文以1999～2002年国内实施MBO的16家上市公司为样本,用净资产收益率、每股收益和每股净资产三个指标分析了MBO前后企业业绩的变化,发现企业业绩指标平均值呈逐年下滑趋势。其主要原因有:国内MBO的定价模式不合理;公司性质未发生根本性的改变;融资方式没有得到充分的拓展;国内缺乏完善的法律监督机制等。尽管如此,我们仍然相信MBO在国内有其广阔的发展空间和发展前景。
The paper investigates 16 listed companies which were developed through MBO, and finds the difference before and after MBO from three important criterions： ROE.EPS and NAPS. The conclusion is there is no obvious difference before and after MBO, and mean value descends gradually. Then the reason was analyzed： price＇s fixing is irrational; MBO is inadequate; the way to finance is single and there are no perfect relation laws and supervising mechanism. However, a good future of MBO is expected.
出处
《兰州商学院学报》
2004年第6期27-29,共3页
Journal of Lanzhou Commercial College
