我国MBO实践的理论分析与创新

A Study on Chinese MBO's Practice and its nnovation

管理层收购(MBO)是优化我国国有企业公司治理结构、充分发挥企业家才能、提高公司绩效的有效途径。但是,由于法律制度不健全、产权关系不明晰、企业家市场不成熟等,使我国的MBO造成国有资产严重流失。因此,为防止MBO中国有资产的流失,必须加强法律制度建设,理顺国有企业的产权关系,明晰产权主体,并积极培育企业家市场,提高企业家素质。

Management buy-out （MBO） is an effective method of optimizing corporate governance, making best use of enterprisers＇ talents and improving finance performance. Because the property rights and legal institutions are not systematioc and entrepreneurs market is inmature, state-owned assets are easy of losses in the process of MBO in China. So we should improve property inghtsinstitution, legal system and the efficiency of entrepreneurs market