摘要
传统研究成果均支持管理层收购的"创造财富假设",认为管理层收购尽管有可能带来财富重新分配的效果,但是对财富重新分配过程中的决定因素却较少涉及。文中以财富的变化作为研究对象,构建了一个管理层决策模型,该模型分析表明,监管水平是决定管理层和外部股东MBO后双方财富的重要变量。
The traditional research of Management Buyout has formed a mainstream standpoint,which emphasizes the effect of reallocating fortunes created by Management Buyout and overlooks the decisive factors in this reallocation process.This paper takes the fortune as a variable an then constructs a decision model of Management Buyout,through the analysis of which presents that both debt financing and supervisory level are two important factors that determines the fortune changes of management and outside shareholders.
出处
《武汉理工大学学报》
EI
CAS
CSCD
北大核心
2007年第8期179-182,共4页
Journal of Wuhan University of Technology
关键词
管理层收购
外部股东
监管
财富变化
management buyout
outside shareholders
supervision
fortune changes
