混合所有制职业院校资本退出机制研究

Research on the Capital Withdrawal Mechanism of Mixed-Ownership Vocational Colleges

混合所有制职业院校的发展需要完善的资本退出机制。完善资本退出机制的意义在于免除资本投入机构的后顾之忧,也是优胜劣汰的必然选择。混合所有制职业院校资本有公开上市、股权转让、管理层收购、股权回购协议、破产清算等多种退出方式,退出方式的选择受到资本投入机构、混合所有制职业院校等内部因素以及法律法规、市场环境等外部因素影响。可以从完善相关法律法规、产权交易机制、治理结构三个方面完善资本退出机制,推动混合所有制职业院校可持续发展。

The development of mixed-ownership vocational colleges requires a perfect capital withdrawal mechanism. The significance of improving the capital withdrawal mechanism is to avoid the worries of capital investment institutions, and it is also an inevitable choice for the survival of the fittest. There are various methods for the capital withdrawal of mixed-ownership vocational colleges, including public listing, equity transfer, management buyout, equity repurchase agreement, bankruptcy liquidation and so on, but the choice between them is affected by internal factors such as capital investment institutions and mixed-ownership vocational colleges, and external factors such as laws and regulations and market environment. From the improvement of relevant laws and regulations, property rights transaction mechanism, and governance structure, the capital withdrawal mechanism can be improved, thereby promoting the sustainable development of mixed-ownership vocational colleges.