| From the aspect of managing companies, by the means of MBO, we can efficiently solve problems such as the agency by agreement, inner employees'controlling, information asymmetry caused by the separation of two rights in modern enterprises. MBO of our country has formed in the process of the advancement of the state-owned economic strategic reorganization and the promotion of the reform of the property right. All kinds of questions connected with property relations make this financial implement of MBO mean a lot. Restricted by our company's financial policy and law for company, as well as the situation that the domestic capital market is undeveloped, and financing channel is monotonous at present, our state-owned enterprises have a hard time in implementing MBO with a series of problems, such as difficult financing and illegal purchasing subjects. MBO has provided a new financing channel and solved the problem with illegal subjects in a way. However, our state-owned economy in the period of transition at present faces many problems such as imperfect legal system, defective company administrative structure, and non-effective relevant MBO system, thus, a terrible situation has appeared: the domestic MBO market is in great disorder due to the illegal operation of administrative authorities and annebing of state-run real in the name of reform. Therefore, the Ministry of Finance has delayed eamining...
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