摘要
上市公司管理层收购的一个根本问题是收购资金来源很不正常。由此引致财务杠杆风险过大 ;使得公司管理层的行为进一步扭曲 ,甚至不惜一切代价采取利用上市公司资产来收购上市公司股权的办法侵害公司、债权人和其他股东 (特别是中小股东 )的利益。因此 ,本文认为应尽快采取措施对上市公司管理层收购的融资行为进行规范。
One of major problem about management buy-out of listed companies is that the fund of buy-out is abnormal, which leads to large risks of financial leverage; twists management conduct so that the management take advantage of assets, interests of creditors and stockholders of the company. This paper suggests that measures should be adopted to normalize financial conduct of management buy-out of listed companies.
出处
《财经科学》
CSSCI
北大核心
2003年第3期31-34,共4页
Finance & Economics
