| MBO (Management Buy-out) is refers to the goal company's management lend capital to purchase the stock of their company so they can change the stockholder's rights structure of, domination structure and property structure of the company. Through the method, the management can reorganization the company and gain the prospective return. This purchase behavior is so called Management Buy-out. In the process of the state-owned enterprise reform and the state economy withdraw gradually from the general competitive domain and the small and medium-sized enterprise, the management buy-out has played a very important role.On the background of state-owned enterprise property right reform, based on the theory dispute of MBO, the paper analysis the domestic and foreign theory source and historical development of MBO. Then it studies the reason of MBO in our country state-owned enterprise and the relationship of the loss of state-owned property with MBO. Then, it analyses the real reason of the loss of state-owned property. Finally, it proposed the countermeasure of the loss of state-owned property in the MBO practice of our state-owned business. The paper has four parts. The first part is an introduction; it introduced topic background and the writing significance of the paper and introduced the concept of MBO, domestic and foreign present research situation and the research method. The second part is about the analysis of reason of MBO in our country. It is mainly includes two aspects of the policy and the individual reason. In the third part, it believed that there is no relation between MBO and the loss of state-owned property. At the same time, it analyses the real reason of he loss of state-owned property in the MBO practice. The fourth part is the countermeasure of the loss of state-owned property in the MBO practice of our state-owned business. It is mainly about three aspects: the legislation, transfer value and the financing method——establishment the limited partnership enterprise. |
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