中國上市公司管理層收購的法律監管

法律論文編號:FJ012   包括:開題報告,中英文摘要,論文,目錄,文獻綜述,任務書,答辯,中期檢查表,等  論文字數:15178,頁數:18

目錄
摘要 ...........................................................Ⅲ
Abstract....................................................... Ⅳ
引言........................................................... 1
一、管理層收購的理論基礎....................................... 2
（一）經濟學視野中的管理層收購.................................. 2
（二）管理層收購的法學考量 ......................................3
二 、上市公司管理層收購的制度實踐——一個關于中西方的比較 .......4
（一）來自西方的制度安排 ........................................4
（二）中國式上市公司管理層收購...................................5
（三）上市公司管理層收購的中外比較 ..............................6
三、我國上市公司管理層收購的法律困境 ............................7
（一）法律問題的提出——對現狀的分析.............................7
1.收購主體的合法性問題 ..........................................7
2.收購價格的合理性問題 ..........................................7
3.收購融資的合規性問題...........................................8
4.信息披露的缺陷性問題...........................................8
（二）規則之整理——制度是如何形成的.............................9
四、對修改我國關于遺產范圍立法的一些建議.........................11
（一）管理層收購的主體——基于信托的構筑.........................11
1.信托的概念和獨特功能...........................................11
2.信托機構作為上市公司管理層收購主體的優勢分析 ..................12
（二）管理層收購的融資來源 ......................................12
（三）管理層收購的信息披露 ......................................13
1.更為具體化的公開內容 ..........................................13
1.更為周詳的披露程序.............................................14
（四）管理層收購中國有資產的保護.................................14
結  語 ..........................................................16
參考文獻 ........................................................17
致  謝 ..........................................................18

摘要
管理層收購（MBO），是指目標企業的管理層利用融資購買本企業的股份，從而獲得或可能獲得本企業實際控制權的行為，即公司管理層或經理層完成由單純的管理者身份向管理者與股東雙重身份的轉變，進而改變本公司所有者結構、控制權結構和資產結構，從而達到重組本公司的目的并獲得預期收益。作為一項制度創新，管理層收購對于明晰國有企業產權、降低企業代理成本、激發經營者人力資本要素、實現國有資本戰略性退出具有重要意義，但是由于我國現行法律制度不健全，因此管理層收購在實踐中面臨著一系列的違規風險，是否在我國繼續推行管理層收購存在著較大爭議。本文首先分別在經濟學和法學的角度上，從理論基礎上來探尋管理層收購存在的必要；其次通過對西方國家管理層收購的分析探尋出管理層收購的應有之義，結合我國上市公司管理層收購的現狀分析比較了中外管理層收購的不同；再次，基于我國管理層收購的制度環境的缺失分析我國上市公司管理層收購存在的一系列問題，探尋有關的法律制度是何以成形及有何缺陷；最后，為了保證管理層收購的每一方面都有法可依從而得以順利實施，基于上市公司管理層收購的各個環節提出相應的法律監管的若干構想。
 
關鍵詞：中國上市公司  管理層收購  困境  法律監管

The Legal Supervision of The MBO about Chinese Listed Company

Abstract
Management buyout（MBO）is that the management of the target company use the finance to buy its stocks in order to get or maybe to get the actual control of the company,that is the management of the company come from the pure managers into the managers and stockholders,and change the structure of owner,control and property so that thay can rebuild this company and get the expected profit.MBO is important to clear the property of state enterprises,reduse the proxy cost of the company,stimulate the human resource of managers and make the state-owned capital with-drawed from market as a kind of innovative system,but there are lots of disputes wether carrying out the MBO or not because of the existing law is so flowed that the practices of MBO face a series of risk of violation.first,this article was based on the law and economics to search for the necessary of the theory of MBO;second,it analysed the comparisons of MBO in China and in western countries through explored the proper meaning of MBO of western countries and MBO of listed companies in China in operation;third,based on the defects of China’s systems it analysed a series problems of MBO of lised companies and explored how the systems were made and what defects they had;the last,it offered a certain number of ideas of legal supervision about MBO of listed companies in order to ensure that aspects of MBO which carried out within law.

Keywords:Chinese listed company;management buyout;difficult position;legal supervision