管理层收购的法律规制--从利益冲突与平衡角度分析

近几年来,管理层收购逐渐成为我国国有企业产权改革中的热点问题.但由于缺乏法律的规制,实践中出现了不少问题,造成大量国有资产流失.本文从MBO中固有的利益冲突入手,从咨询意见、独立董事的监督、强制信息披露、股东大会的批准、竞争性收购、事后救济和司法干预等几个方面对如何从法律上规范MB0进行了简单的探讨.

Statutory Regulations of Management Buy-out

MBO has emerged as the focus in the property reform of the state enterprises in China in recent years. The lack of statutory regulations results in hosts of problems in practice, causing great loss of state property. Proceeding from the inherent conflict of interests, this paper analyzes different ways to regulate MBO by law such as opinion consultation, supervision of independent directors, mandatory information disclosure, approval by shareholders' general meeting, competitive acquisition, post-buy-out remedies, judicial intervention, etc.