浅析管理层收购中内部人控制问题

管理层收购是解决公司内部激励机制问题，降低公司所有者与管理者之间委托代理成本，避免内部人控制发生的一种最直接的方式。但是我国己实施和正在实施的管理层收购大多数都不是彻底的管理层收购，这就不可避免地会发生内部人控制。文章首先按照管理层收购的操作顺序对可能发生的内部人控制现象进行了划分，并探讨了引起内部人控制现象的一些主要原因，在文章最后提出了控制管理层收购中内部人控制的一些措施。

An Analysis of the Insiders Control Problem in Management Buy-outs

Management buy-outs is a most direct way to solve the problem of internal incentive in companies, cuts down the principal -agent cost between company owners and managers, avoids the insiders control problem. But the management buy-outs which have been implemented or being implemented in our country mostly are not the thoroughly action, which cause the insiders control problem. The paper classifies the insiders control phenomenon in the management buy-outs firstly, then analyses the causes of insiders control, at last the paper provides some measures to solve the insiders control problem in management buy outs.