An Empirical Analysis And Research Of Countermeasure On The MBO Of Listed Companies In Our Country

As a kind of method of capital operation, Management Buyouts means that managers of targeted companies, trough a large number of debt financing, buy the companies' share, thus changing structures of the companies' proprietor, the control power and property, then attain the purpose of reorganizing companies and obtain expecting income. The researches indicate MBO can effectively harmony the relations of companies of residual claimancy, reduce agency cost, mend corporate governance and improve corporate achievement. Introducing ideas of MBO, it doubtlessly provides a new way of reform for the current state-owned enterprises.Using the simple and direct language, the text, reviews concept, development of background and conclusions of domestic and overseas theories about MBO. Making use of method of the empirical evidence, it researches MBO of listed companies in our country and obtains significant conclusions from share structure, financing method, various achievements and so on. Through comparing domestics with overseas of MBO, it analyzes those differences and reasons. It analyzes laws of MBO, especially affection and limitation of the new order. On the base of theories and practices, it discusses a series of problems in the course of practice of MBO in our country and put forward my viewpoints for resolving the problems.