管理层收购(又称MBO)是我国国有企业改革中新出现的资产重组形式,对解决我国长期以来的所有者缺位、代理成本、管理效率低下等问题提供一个解决途径。但目前我国法律政策对MBO问题规定不足,导致出现收购主体资格、收购定价、融资渠道、还款能力监督、中小股东以及其他利益相关者保护等方面遭遇障碍。为解决这一系列问题,更好地引导规范MBO使其更好地发挥其经济效用,应从放宽融资渠道、发挥银行的监管作用、发挥信托机构的中介作用、优化公司治理结构、明确管理层责任等角度设计我国MBO法律监管机制。 Management buyout (also known as MBO) is a new form of asset restructuring in the reform of state-owned enterprises in our country. It provides a solution to the long absence of owners, agency costs and inefficient management in our country. However, at present, China’s law and policy have not enough provisions on the MBO issue, resulting in obstacles such as acquisition subject qualification, acquisition pricing, financing channels, oversight of repayment ability, protection of minority shareholders and other stakeholders. In order to solve this series of problems and guide the MBO to better play its economic utility, we should relax the financing channels, give play to the regulatory role of the banks, give play to the intermediary role of the trust agencies, optimize the corporate governance structure, and clarify the responsibilities of management Designing MBO Law Supervision Mechanism in China from the Angle of Equality.