It is divided into six parts as follows : part one states the fundamental issues of the mbo mechanism involving its concept , characteristics , method as well as economic and social significance ; part two introduces the standard practice of the mbo mechanism abroad and refers to its potential international development ; with china as the background , part three discusses the state of art of the mbo mechanism , and the gap between the mbo practice in china and its international routines ; part four analyses a series of system obstacles existing in the current practice of the mbo mechanism in china , including : system constraints , market constraints , interests convertibility mechanism , mbo monitoring mechanism , as well as its drawbacks on protecting the interests of medium or small stockholders ; part five draws a conclusion to the dissertation by referring to the potential of the mbo mechanism in china 全文共分六部分：第一部分阐明有关管理者收购的基本制度内容，包括管理者收购的概念、特征、方式及其经济和社会意义；第二部分介绍了国外在管理层收购操作实践上的规范做法，指出管理层收购在国际上的发展趋势；第三部分讨论了在我国特定的背景下，管理层收购实施现状及我国管理层收购实践与国际惯例的差异；第四部分分析了在我国目前实施管理层收购所存在的一系列制度障碍，包括：制度约束、市场约束、利益兑现机制、管理层收购监督制约机制和管理层收购实施的中小股东利益保护机制方面的缺陷。
The practice of managerial merger and acquisition has its own features and has progressive significance . but it also brings barriers for formation and operations in its early stage . the fairness and justness for merger and acquisition price is to be evaluated 管理者收购在我国的实践具有鲜明的中国特色，产生了许多积极意义，也存在收购主体的创建和运作障碍，收购价格的公正性、公平性有待评估，收购资金来源受到诸多限制，收购者的行为约束面临多方面挑战，收购的市场基础有待建设和完善等问题。
