2、发展MBO，还必须修订相关法规政策、加强公司治理结构的监管、完善市场环境。关键词 管理层收购（MBO） 问题 对策 A Summary of the Problems and Treasures on MBO in ChinaAbstract: In western countries, MBO has been used extensively. According to the argument about MBO, we can divide MBO theory into “the efficiency increase theory” and
3、“the wealthy transfer theory”. In China, MBO is just at its starting stage, but all kinds of questions has appeared:(1) the legal status of purchasing subject is indeterminate; (2)the management is not be formed through market competition; (3) the financing channel is narrow;(4) the
4、price of implementing MBO is unfair;(5) the operating course is opaque; (6) the channel of stock source and stock turning into the cash is unblocked. (7) implementing MBO usually shoulder the task of defining property right; (8) producing the new problem about inside people controlli
5、ng. Perfecting and developing MBO further need to make up special implementing rules and regulations about MBO, supervise the corporation structures, and perfect market conditions.key words: Management Buyouts，Questions，Countermeasure 一、MBO的相关理论回顾 管理层收购（Management Buy-outs，MBO
