所谓管理层收购(m anagem entbuy-out),就是由企业的管理者在金融机构的支持下通过大量举债或者进行股权交易的方式拥有本企业股权的行为。在西方国家,管理层收购被严格限制在一定的范围之内,目的是为了防止内部人控制,从而出现损害企业投资者利益的现象发生。上个世纪,一些由? The so-called management buy-out is the act of an enterprise’s manager who owns the equity of the company through a large number of debts or equity transactions with the support of financial institutions. In Western countries, management buy-outs are strictly limited to a certain extent. The purpose is to prevent insiders from controlling and thus harm the interests of corporate investors. Something from the last century?