我国旅游企业产权重构中实施MBO的理性思考

The Application of MBO in Property Right Reform of China's State-owned Tourism Enterprises

MBO(管理层收购)是近年来在西方国家兴起的一种新型并购形式,西方国家的实践表明,MBO具有降低代理成本、激励管理层积极性、有效调整资产结构、提高决策效率等作用。它是大公司实现资产剥离的一条重要途径,也是管理者实现所有权与经营权相统一的一种形式。当前,我国国有企业改革处于关键时刻,研究MBO具有重要的理论和现实意义。

MBO has become a new form of corporation annex in the western cotmtries in the recent two or three decades, which shows such advantages as reducing procuratorial costs, inspiring enthusiasm of the management, efficiently adjusting property structure as well as promoting the. efficiency of decision- making, etc. MBO is an important method to pod off the assets of grand corporations, and also a modality to achieve uniform of ownership and operating right.It is of great significance to study MBO when china＇s reform of state - owned enterprises is at the moment of truth.