股权分置
- 网络tradable;non-tradable shares;shareholder structure
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近年来,随着股权分置等一系列资本市场制度的改革与创新,我国证券市场不断发展,上市公司的数量日益递增,市场价值也不断攀升。
In recent years , with the reform of tradable and a series of other capital market system , Chinese stock market have made a continuous development , the number of listed companies became more and more , and the market value has also increased .
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中国股市股权分置问题的认识和思考
Cognition and consideration on the problem of non-tradable shares on Chinese stock market
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本文认为产生这种差异的原因在于:第一,股权分置改革后,影响IPO定价效率的因素发生了显著变化。
This paper holds that the reasons for such differences are : first , the impact factors have dramatically changed since equity separation reform .
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自2005年股权分置改革以来,我国资本市场快速发展,上市公司市值与GDP的比值稳步上升。
Chinese capital market has expanded dramatically since the split share restructures reform in 2005 . The percentage of market capitalization of listed companies to GDP is growing steadily .
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含B股、H股、N股公司的股权分置改革涉及比较复杂的法律关系,有可能引发外资股股东提出的国际集团诉讼。
Companies which have issued A-shares , B-shares , H - shares and N-shares tend to be involved in complicated legal relation in the course of non-tradable shares reform , and may end up with international lawsuits .
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IPO效率乃一级市场效率,是资本市场效率的重要组成部分。股权分置改革必定会对其产生深远影响。
IPO efficiency , the primary market efficiency , is an important part of capital market efficiency , which equity separation reform absolutely has a profound impact on .
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中国的股权分置是世界范围内极其独特的交易制度安排,股权分置改革的实践为了解和研究中国投资者对其制度革新的反应,进而如何影响IPO抑价提供了独一无二的机会。
Split share structure is very unique in the world trading system arrangements . Non-tradable share reform provides an opportunity to study response of Chinese investors to its innovative system , and the affection on the IPO underpricing .
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而QFII对我国证券市场的风险究竟有何影响,尤其在股权分置改革后QFII对我国证券市场的风险会怎样变化是很值得研究的。
It is necessary to study how the QFII ( Qualified Foreign Institutional Investors ) influences the possible risk in the domestic security market , particularly after the reform of non-tradable shares .
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本文选取05和06年进行了股权分置改革的上市公司数据,按年份将其分为两个样本,运用修正的Jones模型对盈余管理的存在性进行回归分析。
This article select he listed data of companies which make the reform in 2005 and 2006 , break the date into two samples , using the Jones models to perform a regression analysis on the existence of earnings management .
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若市场上存在感性投资者,发行人的最优策略是分阶段发行以获得更高的利润。其次,对存在股权分置时,发行人选择承销商售出IPO股票也即对承销的情况进行分析。
The issuer is best to offer shares with many times to get a higher profit . Second , analyze the case that the issue chooses underwriter to sell IPO stock ( under-writing ) when the stock market exists split share structure .
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涉及股权分置改革的,账户名格式为“xx公司股权分置改革权证行权专用证券交收账户”。
In case of involvingwhere the equity distributionsplit share reform is involved , the form of the account name shall be " exclusive securities account for warrant exercise of XX company for distribution split share reform of warrant exercise " .
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迄今,由于国内股市在解决了股权分置问题后走势良好,市场人气提升,qdii一直仅限于固定收益投资。
So far , QDII has been largely restricted to fixed-income investments at a time when the domestic equity market has performed relatively well following the workout of the untradeable shares problem , and improved sentiment .
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论股权分置的治理与制度创新
On Governance of the Structure of Split Shares and System Innovation
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权证、股权分置改革与证券市场发展
Stock Warrants , Equity Division Reform and Development of Securities Market
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股权分置与上市公司治理
The Divided Stock - Share and Listed Firm 's Corporate Governance
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股权分置改革对价理论与实务研究
Research on Consideration in Split-share Structure Reform and its Practice Problems
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股指期货波动性与股权分置改革关系研究
Study on Volatility of Stock Index Future and Split Stock Reform
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股权分置改革给我国证券市场带来什么?
What can shareholder structure reform bring to Chinese securities markets ?
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股权分置与中小股东权益保护
Sub-owned Shares Reform and the Protection of the Interests of Small Shareholders
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股权分置改革的理论探讨及影响对价水平因素的实证分析
Theory Discussion on Non-Tradable Shares and Empirical Studies on Consideration
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有关股权分置对价确定方法的讨论
Discussion on methods of determining corresponding value in division of share equity
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通过本文的研究,主要得出以下结论:1、股权分置改革之后超能力派现现象有所减弱。
High cash dividend phenomenon weakened after the reform of non-tradable shares .
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我国股权分置改革中的市场参与:一个复合的事件分析
Market Participation in Non-tradable Share Reform : A Composite Event Study Methodology
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股权分置改革试点的八大问题
Eight Issues on the Reform of the Split Share Structure
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继续推进上市公司股权分置改革。
We will continue to reform the shareholder structure of listed companies .
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基于股权分置改革的股权激励制度分析
Discussion on Option Incentive System Based on Option Division Reform
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关于解决我国股市股权分置问题之拙见
Solving the Problem of the Stock Right Dividing in China
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股权分置对价支付方式的比较分析
The Comparative Analysis of the Ways of Consideration of Stock Rights Distribution
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我国股票市场股权分置效率损失及对策研究
Study on Inefficiency and Countermeasures Due to Split of Shares in China
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股权分置改革后我国股票市场财富效应研究
Wealth Effect of Share Market after Reform of Non-tradable Shares