| As for the important meaning of the State-owned companies, aiming to reform the State-owned companies in macroscopic and microcosmic facets, this article suggests to lead into the Management buy-out (MBO) .This new kind of company combinations, producing an agreeable property relationship in state-owned companies, subsequently rises an excellent state-owned property layout, then proceeds the strategic function in the state-owned companies.The article proceeds a thoroughly theoretical analysis of the Management buy-out, and produces a systematic introduction of its characteristics. Pointing out its positive functions in state-owned company reforms, it analyzes the practice of Management buy-out and its realistic meanings to the reforms of the State-owned companies. Then it combines the definition of its scope. Pointing out the easily output problems when practice the Management buy-out in State-owned business enterprises, it puts forward the related suggestions and strategies. |