Studying On Problems And Countermeasures Of Our Country's MBO Practice

In recent years, with the deepening reforms of the state-owned enterprises, there has been an upsurge of MBO (Management Buy-Outs) in China. Especially with the carrying out of the strategy to manage large enterprises well while ease control over small ones, MBO has been an important form for local government at all levels to ease control over small enterprise. As a beneficial and valued exploration and renovation, MBO provides a new way to solve such problems as the investors not being in position and to accelerate property rights diversification of the state-owned enterprises.However, MBO is an exotic introduced from abroad during the searching course of about twenty-years property rights reforms of the state-owned enterprises. There has taken place many problems in practice. The fundamental reason is that the environment for MBO practice is not mature in our country. Therefore, there have been important and realistic meanings to push the small and medium-sized state-owned enterprises to complete reforms by MBO gradually in proper sequence while perfecting MBO practice environment and bearing abroad experience and lessons in our mind.On the basis of contrastive studying of the fundamental theory of MBO and practice mode at home and abroad, this paper selects four typical MBO cases, concretely analyzes the successful operation and existing problems at first, and then expounds the affected factors in Chinese practice of MBO, finally puts forward corresponding countermeasures and suggestions which in the hope of perfecting MBO practice environment in China.Focusing on the similar and dissimilar points of MBO at home and abroad, this paper analyzes and studies the problems in five parts:The first part studies the theoretical research and the evolution of MBO at home and abroad, for reference of basic theoretical guide and research methods.The second part mainly studies and compares the practice mode of MBO at home and abroad, then puts forward that we should learn the successful experience and standard operation in Britain and America in one hand, and bearing the lessons of countries such as Russian of transferring economy and existing problems of Chinese MBO practice at present in mind on the other hand, and then combine with Chinese concrete situation to perfect the practice environment of MBO to realize clear property rights and to improve the efficiency of the small and medium-sized state-owned enterprises in our country.The third part selects four finished typical MBO cases and concretely analyzes the successful operation and existing problems.The fourth part analyzes the affected factors of MBO practice in China and puts forward corresponding countermeasures and suggestions.