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Legal Research On The Loss Of State-owned Assets In Management Buy-outs Of China

Posted on:2007-08-04Degree:MasterType:Thesis
Country:ChinaCandidate:L S LiuFull Text:PDF
GTID:2166360185974458Subject:Economic Law
Abstract/Summary:PDF Full Text Request
Management Buyouts (MBO) is the correction to the problem of excessive agency costs, which is caused by the isolation of the managing rights and the proprietorial rights under the contemporary corporation system. Imposing the MBO by advanced market-oriented countries aimed mainly to reduce the agency cost and to improve the management of the target corporations. However, when the MBO is introduced into China, the specific and historical task imposed on the MBO is to clarify the relationship of the state-owned property rights. It is of momentous significance. It is hoped to be found of the proper way of state-owned enterprises revolution on property rights through the attempt of the MBO. The management control system and industrial structure of Chinese state-owned enterprises will thereby get improved, the property relationship of state-owned enterprises clarified, and the state-owned assets rationalized.Ten years later after the introduction of the MBO into China, nevertheless, there have present two kinds of extremely different comments. Many scholars and enterprisers who hope the MBO can help to clarify the property relationship of the state-owned enterprises and to strategically adjust the national economy, insist that the government should leave more room but less limit on policy and law for the MBO to develop. On the contrary, another group of scholars believe that the MBO is just a measure to make interests for someone himself, and the MBO should be restricted or even prohibited to prevent the loss of state-owned. The typical evidence is the hot and continuous argument on whether the MBO will cause the loss of state-owned asset, which is led by the LANG Xianping vs. GU Chujun. The complicated reality makes the academia research thoroughly the practice of the MBO in China. And the problem of the loss of the state-owned assets in the research is the one arousing the most arguments.In interested in this field, this dissertation, on the foundation of the theories of Law and Legal economy and with the help of the cases analysis, deploys comprehensively the researching methods of comparison and history. It mainly studies, from the angle of the Economic Law, on how the loss of state-owned asset will be prevented during the course of the MBO in China.This dissertation begins with the analysis of the emerging reason of the MBO, and then gives a legal definition of it. After that, the developing status of the Chinese MBO is found, and the peculiarity and significance of the problem of the loss of state-owned...
Keywords/Search Tags:Management Buy-outs, state-owned assets losing, legal resolution
PDF Full Text Request
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