摘要
管理层收购(ManagementBuy-out简称MBO),是随着西方国家大企业集团业务分拆和反收购而产生的,在降低代理成本,激励内部人以及提高管理效率方面有一定的积极作用。MBO在20世纪90年代引入中国,被视为国有企业产权改革和国民经济战略性调整的一种有效手段。但是,与国外相比,我国实施MBO还存在很多制度障碍,融资问题是其中之一。文章分析MBO融资障碍,并提出相应的对策。
Management Buyout (MBO) is a method of business division of big enterprises and anti-merge in west countries. MBO plays an active role in encouraging managers, cutting doun agency cost and improving management efficiency and is regarded as an effective way of reforming state-owned enterprises in China from 1990'. But Chinese enterprises will encount many systematic obstacles when carrying out MBO. Financial problem is one of the obstacles. The article tries to analyse financing obstacles of MBO and put forward appropriate suggestions.
出处
《南华大学学报（社会科学版）》
2004年第3期50-52,共3页
Journal of University of South China(Social Science Edition)
