This paper has reviewed the motive theory of MBO at first, the classical theory argues that MBO has speculation motive, raid motive, managerialism motive and distinct property right motive.

• 本文首先回顾了管理层收购动机理论，经典理论认为管理层收购具有投机性动机、掠夺性动机、管理主义动机以及明晰产权动机。