Analysis And Research On The State-owned Enterprises Management Buyout

The history of our state-owned enterprises' reform is the one of property rights reform. The reform has emphasized property rights and reached the innovation of enterprises' management system and construction. The reform of state-owned enterprises is necessary for the history development. With the economy development, the previous system couldn't meet the demand of society development any longer. And the reform is also the development demand of present situation. After the entry to WTO, the game rules changed completely. The state has intervened less enterprises' managerial decision-making activities and deepened the state-owned enterprises' reform from enlarged managerial decision-making powers to property, which changed the situation that the state-owned enterprises were dependencies of the government and made them the principal parts of market economy. In recent years, the local governments mended the pace of state-owned enterprises' sales, which has gradually become the sale and recombination tide of local state-owned enterprises from the beginning of this year. Among the various sale forms of state-owned enterprises, it is undoubtedly a better choice that the management departments purchase the state-owned enterprises because they are familiar with the details of their own industries and enterprises. The paper first introduces the reform situation of our state-owned enterprises in recent years and the details of enterprises that have been purchased by their management departments. And then, it discourses upon the main theory and significance of management departments' purchases. In the third chapter, with the facts, the paper explains the main procedure of management buyout. And in the fourth chapter, it points out the problems through the management buyout practice of our state-owned enterprises. At last, the paper indicates the solutions of these problems according to the laws.