国有企业MBO探讨及其新思路—紧缩型MBO——基于江苏开元轻工MBO的实践案例-工商管理专业论文.docxVIP

颂|‘论文 颂|‘论文 国有企业MBO探讨及其新思路 Y．625111 摘 要 随着我国加入WTO以及社会主义市场经济体制的逐步确立，国有资本从竞 争性行业退出的步伐不断加快：同时，在我国国有企业中还存在着较严重的产权 问题，管理层收购(MBO)可以用于理顺国有企业的产权关系，继而起到优化 国有资产布局，对国有经济进行战略性调整的作用，从而在宏观和微观两个层面 上进行改革，具有极强的现实意义。但目前我国MBO在实施中也遇到了诸多障 碍，存在着国有股转让如何定价，融资瓶颈如何解决等关键问题，需要等待我们 在今后的实践中去解决。文章介绍了管理层收购的起源及其在国外的发展历史， 对其理论基础进行了深入的分析，结合我国实际分析了管理层收购存在的问题， 并探讨了解决的方法。文章晟后通过对江苏开元国际集团轻工业品进出口股份有 限公司紧缩型MBO的实例，分析了紧缩型MBO的特点和作用，论证了紧缩型 MBO是可应用于当前中国国有企业MBO的一种较好方案，值得在当前国有企 业MBO中予以借鉴和使用。 关键词：管理层收购，国有企业，产权，紧缩型MBO 颂l‘论文 颂l‘论文 固柯企业MBO探讨及lE新思路 ABSTRACT Joining WTO and along with the gradually establishment of our socialism market economy systems，the speed ofState-owned capital withdrawing from the competition business has been increasing gradually．On the other hand， it still exits much more seriously problems in The Property Right of the State—owned Enterprise．the ManagementBuy·out(MBO)，whichhasbeenwidelyusedinour societynow，call be used in proceeding the reformed consideration both to macroscopic and tiny view． Because it Can make the Property Right of the State—owned Enterprise more reasonable and then turn the state·owned property layout more excellent， and as a result r perform the function of adjusting the state-owned economy in s虹ategy scale． However，the Management Buy—out also faces some obstacles when performed in China，and it also exits some key problems in performing it in China，such as how to make sure the price of transferring state-owned capital and solve the problem of lacking capital．All of these should be solved by US by practice．This article introduces the origin ofMBO and its history in foreign country．as well as the deeply analysis of its Theory basis．It analyses MBO in China according to the practice and studies the solving ways for these problems mentioned above． Finally，through the introduction of the practice of MBO in Jiang Su Light Industrial Products Imp．Exp．Corp，this article analyses the characteristics as well as the funct