Mbo Legal Regulation Of Research

Management Buy-Out (MBO) in China was first put into practice in 1990s, and now has become an important solution of reforming state-owned enterprises. With lack of standardation of operation and limitation of related laws however, quite a lot of MBO runs into some deviation, even including the loss of state-owned assets, which arouses the guard of government and the whole society. In order to protect state-owned assets, our government once stopped MBO urgently, and then some fragmentary regulations came on. Neverthless, these regulations can merely solve special problems other than general ones. Meanwhile, the requirement of MBO is still great, and lots of enterprises is still performing MBO in all kinds of disguised form. To protect the state-owned assets from losing, regulating MBO is of great urgency now. Using method of comparing, historical analysis, and logical induction, this essay deeply analyses all kinds of problem existing in MBO, and brings forward legal proposals respectively.This essay begins with MBO's concepts, discusses its legal characters, compares several theories related, and gives emphasis to its advantages and disadvantages. After comparing the status of development of MBO in developed with the one in developing countries, writer lays stress on analyzing the characters, maneuverability and special significance of MBO in China. Then the existing legal problems of MBO in China are fully discussed from four aspects, including purchaser, price of state-owned shares, source of fund and information disclosure. In the end, reasonable legal proposals corresponding to these aspects are put forward as the conclusion of the paper.The proposals in this paper, are all built on all-sided analysises on MBO's problems in China , follow the principles of equity, publicity, justness and the balance of interests, and are all considered to be of rationality and maneuverability in a certain extent.