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管理层收购(MBO)作为国资管理体制改革的一种重要的方式,目前正受到国内公司的关注,并被认为将在今后国资体制改革中扮演主要的角色。但本刊学术顾问、著名经济学家董辅礽在“中国上市公司百强高峰论坛”上表示,管理层收购虽然在改善公司股权结构等方面具有一定的积极作用,但如果不建立市场化的国有股权转让定价机制,反而有可能诱发国有股权被侵害和国有资产流失的风险。加之目前国内尚缺乏管理层收购所需的融资渠道,管理层收购要在国内推广还存在一
As an important way to reform the state-owned assets management system, MBO is currently receiving the attention of domestic companies and is believed to play a major role in the reform of state-owned assets in the future. However, the academic adviser and famous economist Dong Fuji said on the “Top 100 Chinese Listed Companies Summit Forums” that while the management buyout has a certain positive effect in improving the shareholding structure of the company, if the market-oriented state-owned shares are not to be established, Transfer pricing mechanism, on the contrary, may induce the risk of state-owned equity being infringed and the loss of state-owned assets. In addition, at present, there is still a lack of financing channels for MBO in China, and there is still a management buyout to be promoted in China