| "MBO" (Management Buy-Out), was first pioneered in the 1980' s and has rapidly engulfed the whole world. It will surely become an important way to reform the enterprises property right in China in the context of privatizing state industries, decreasing state property rights, the reform of the state-run enterprises and the growing up of management. At present, it lacks thorough research on the characteristics, the pricing and the financing problems in MBO in China during the economic transition. In respect of pricing, Chinese scholars still remain on the level of establishing information publishing system and introducing competitions. In the field of practice state capitals are commonly found lost resulted from the unreasonable pricing. In terms of financing, they still remain on the level of introducing the financing models of western countries. Practically, there is a common puzzle about the difficulties of financing and the illegal financing. Therefore, it is an urgent task to thoroughly study on MBO in the economic transition of China, especially the problems of pricing and financing.The methodology adopted by this paper includes data collection and comparative analysis. On the basis of the summarizing the current situations of MBO' s theory and practice both at home and abroad as well as the characteristics of MBO in the transition ofChina, the thesis analyzes the problems existing during the transition period and creates a new market-orientated pricing model in MBO and a mathematical model of evaluating financial possibility of the volume of credit.The author' s two main contributions are as follows: firstly, raising "the new market-orientated pricing model in MBO" , which is used to form the reasonable price in MBO during the economic transition, is an operation innovation; secondly, putting forward the "mathematical model of evaluating financial possibility of the volume of credit" , which is used to judge the rationality of the volume of credit, is a theoretical innovation.
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