论文部分内容阅读
随着市场机制的完善和股权分置改革的顺利进行,国有企业管理层收购的案例越来越多,而如何定价以及定价的影响因素一直是人们关心的敏感话题,事关国有资产的流失和保值增值。国有企业管理层收购过程既要解决管理层以何种方式拿回自己过去在企业创造的历史性价值问题,也就是其剩余索取权的补偿问题;又要解决其效率和公平性问题。因此,在管理层收购定价过程中引入更多的社会性约束,完善相关的法律、法规和制度实施环境,将有利于管理层收购行为主体的规范,从而促进国有企业改革的社会性公平和效率双重目标的实现。
With the improvement of the market mechanism and the smooth progress of the split share structure reform, there are more and more cases of management buyout by state-owned enterprises. How to influence the pricing and pricing has always been a sensitive topic of concern to the public. It is related to the loss of state assets and Increasing the value of. The process of state-owned enterprise management acquisition not only needs to solve the problem of management’s recovery of the historic value created by the enterprise in the past, that is, the compensation of its residual claim, but also its efficiency and fairness. Therefore, the introduction of more social constraints in the process of management buyout pricing and the improvement of related laws, regulations and systems implementation environment will be conducive to the norms of the main body of the MBO, so as to promote the social fairness and efficiency of SOE reform Double goals to achieve.