Acquired Based On The Management Of State-owned Enterprises Reform Perspective

At present, economic restructure and transition of economic system in Chinese enterprises are in a critical stage. Some conflicts and problems in a deep degree have been exposed. The problems such as ownership empty, unclear property fight, high agency cost and faultiness of motivation and constraint do exist. All of them cause the inefficiency of Chinese enterprises. After china's entry to WTO, it is important to not only our enterprise reform, but also the economic system reform that we need to solve all the problems in an effective way. How to clarify the enterprise's property right? How to solve the motivation and constraint to management staff, and how to increase enterprise's efficiency? All of them are becoming more and more significant As a supplementary to corporate governance, management buy-out (MBO) realizes the great transition from managers to shareholders which confirms the value of management staff. It is also the latest exploration of enterprise ownership reform and state-owned enterprise reform. This paper studies the implementation of MBO in China.The paper includes four chapters.Chapter I This chapter offers a brief introduction to MBO, including its meanings, theoretical basis, participants and their major responsibilities, and its history.Chapter II After an analysis of enterprise reform, the author points out that MBO is a great importance to enterprise's development. It can reduce the agency cost as well as promote economic restructure. Afterwards, the author introduces the development of MBO in China, analyzes the characteristics of MBO cases which have been already carried out in China, Then the author puts forward the difficulties of developing MBO in china and predicts its trend.Chapter in By the reference of foreign advanced experiences on MBO, this chapter brings forward the standardized operation measures of MBO in China,including the condition of buy-out, means of buy-out and operation procedures.Chapter IV This part focuses on a research on the problems arising from the current Management Buy-outs among SOEs and some fundamental countermeasure based on the basic theories of Marxist Economics.