The Study On Price Question Of Listed Company MBO In China

Management Buy-out (MBO) does good to the adjustment of enterprises'property structure. Without any doubt it has significant meaning in both theory and practice to the listed companies in China, which are eager to clear property rights and reduce state's stake. But when MBO executed in Chinese listed companies, the price question has been a hot topic.At first, the text has carried on the general assurance to the theoretical foundation and the fixed price question of MBO in domestic and foreign. Then it summarized the price developing actuality of listed company MBO in China. After that, from the basis of choosing, participant, intermediary, historical contribution of manager and purchase way, the paper analyzes domestic and international difference of price method of MBO. Afterwards, the text analyzes the existing questions in price method of listed company MBO in our country, and mainly point out five problems. On the basis of analysis the price question of the listed company MBO in China as well as contrast and reference to rational price method both at home and abroad, the paper puts forward the rational price method and corresponding measurement. Finally, the text does the real example with the case of a company, analyzes the existing problem and calculates the rational price of MBO according to the price thought that this text puts forward, and brings forward some reasonable suggestion.The author believes that, this text has their certain realistic meanings to the study on price question of listed company MBO in China. Saying form practicability, aiming at the regulation and development of listed company MBO in our country, especially the price question, the text has put forward the feasible suggestion. Theoretically speaking, the paper establishes price method which is suitable for the listed company MBO in our country. So the price question of listed company in our country can be solved more objective and fair. Though there are defects and not perfect places among them, comparing to purely using the net assets method it seems more scientific, it is a kind of try to the price question of listed company in our country.