The Empirical Analysis Of Achievements On The MBO Of Listed Companies In China

As a kind of method of capital operation, Management Buy-out means that management of targeted companies, through a large number of debt financing, buy the companies' share , thus changing structures of the companies' proprietor, the control power and property, then attains the purpose of reorganizing companies and obtains expecting income. The researches from abroad indicate MBO can reduce agency cost, mend corporate government and improve corporate achievements. As a kind of system innovation, MBO was leaded into our country; Because our country is exceptional, that leads to many of the issues.With the help of simple language, this paper first reviews some MBO's theories, motivations, MBO in china and the problems in the course of practice of MBO in china. This paper also collects relevant data from a sample of listed companies that conduct MBO from the year 2000 to 2003. With the help of spss11.0, we analyze MBO from the implementation time, MBO's price and MBO's mode etc. Finally, we give an overall comment on MBO to take advantage of factor analysis. Through both theoretical and case study, we have drawn some beneficial conclusions and give some corresponding recommendations, These contribute to the smooth implementation of future MBO.