Research On Legislation Of MBO Of State-owned Enterprises In China

MBO(management buy-outs) originates from western countries. As an important role played in reorganization of enterprises and privatization of state-owned enterprises, it has aroused wide attention in theoretical aspect. With the further deepening of state-owned enterprises reform, MBO is introduced to China as an attempt to offer a brand new idea in property rights reform of state-owned enterprises, and a new method in perfecting the structure of state-owned enterprises management. The introduce of MBO is with great significance.As the dwarfed market mechanism and imperfect of relevant laws, there are lots of improper behavior in the process of MBO. It makes the loss of state-owned assets and does bad to social equity. To strengthen legislation of MBO is imperative under the situation. After the establishment of lots of laws and regulations, A law system of MBO was formed. The procedures of MBO has legal support and the loss of state-owned assets can be kept within limits. But there are many problems, because the legislation work is to meet the emergency with less theoretical preparation and ambiguity of guiding principle. Such as embarrassment of MBO process by some laws and regulations, the imperfect laws in information release, the faultiness of supervising regulations, and so on. Those problems should be solved to help the MBO runs properly.This paper expounds the conception, characteristics and the development history of MBO in China, especially focuses on the legislation process of MBO. Then, it points out and analyses some main problems in the legislation of MBO, and brings forward the author's own attitude and suggestions at last.