search query: @indexterm Management buy-outs / total: 202
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| Author: | Bruner, R. F. Paine, L. S. |
| Title: | Management buyouts and managerial ethics. |
| Journal: | California Management Review
1988 : WINTER, VOL. 30:2, p. 89-106 |
| Index terms: | MANAGEMENT BUY-OUTS BUSINESS ETHICS CORPORATE STRUCTURE |
| Language: | eng |
| Abstract: | A management buyout (MBO) occurs when the management buys the company from the public. Typical features of such a transaction are summarized. Its financial background is cleared up. The problems with buyouts are considered in the light of the criticism. Management's conflicting objectives and fiduciary obligations are examined. Management buyouts are put into an ethical perspective taking into account the interests of the corporation as a whole and those of the shareholders separately. The procedural moves to deal with conflicts of interests are discussed. Standards for the MBO's fair price are determined. Modifications are recommended in the requirements of the federal securities laws. |
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