English: Management Buy-Outs (MBO)
Definition: refers to the Target Corp managers and the managers use the financial capital to buy shares of the company, in order to achieve the right structure and asset structure control of corporate ownership structure, change, a kind of purchase and obtain the expected return of property rights.
Explanation: the structure of property rights, as an important way of China to change the state-owned holding listing Corporation realize state-owned asset to withdraw from the competition in the field of management buy back at present, from the origin point of view, more suitable for unlisted enterprises entrepreneurship and venture capital.
But there are also many legal obstacles: such as "company law" provisions on the administration of directors, supervisors and manager, during his term of office shall not transfer their shares, is not conducive to encouraging management and core technical personnel. For the two aspects of the stock option plan in the source of stock and capital source content, existing policies and laws have not clearly defined and specific. In addition, entrepreneurs whether to buy their own company, there is no whether ownership limits on the number of exceptions, and how to ensure that the interests of shareholders and employees, what provisions, in the aspect of information disclosure, company their obligations, management risk, personal economic information disclosure of the moral risk and sustainable business the development of risk and so on, must be defined in the legislation.
You are here：