The Legal Regulation Of Management Buy Outs Of Listing Corporation

Management buy-outs, English management buyouts(MBO), also known as "managers to buy", "managers to buy", is popular in western countries. This paper defined the concept of management buyout: public management buy-out refers to the management of listed companies in their own investment or financing to buy their company assets or equity, in turn, makes the identity from the manager to the owner,at the same time the company structure and corresponding changes in business behavior.Besides the introduction part, this paper adopt progressive type narrative.First of all, introduce the basic theory of management buy-outs of listed company and its related. This part is mainly on the basis of management buy-outs of listed company problems are introduced. First of all, the origin of management buy-outs has carried on the simple narrative. Secondly, the concept of management buy-outs and no consistent view, academic concept for management buy-outs, not form a consistent view, on the basis of the arguments are specified, is put forward for the definition of management buy-out. Finally, analyzes the characteristics of the management buy-outs, and then summarizes the value of management buy-out.Second, the analysis of the current law of China and other countries, in view of the legal regulating of the management buy-outs of listed companies. First of all, the paper analyzes the management buy-outs of listed companies for the necessity of legislation regulation; Shall follow the principle of the legal regulation. Second,Anglo-American countries about the legislation system of management buy-outs of listed companies, the emphasis of which is British and American national company law, securities law provisions of management buy-outs of listed companies. Finally, to sort out the current our country legal regulation of listed companies management buy-out. Mainly analyzes the "company law", "securities law" and "acquisition of listed companies management method" in the part of the management buy-out clause.Finally, the main research is the current situation of management buy-outs of listed companies in China and Suggestions. First of all, from the practice of management buy-outs of listed companies in our country at present situation, pointed out that at present our country legislative loopholes existing in the legal system and legal barriers. Finally, in view of the problems ahead of the solutions are put forward.Hope this suggestion can promote the development of practice of management buyout in China.