非流通股

汇丰银行中国股票策略师StevenSun表示，今年下半年，仍将有数十亿股解禁的非流通股进入股市。

Steven Sun , HSBC China equity strategist , says there are still billions of non-tradable shares locked up from earlier flotations that will be released on to the market in the second half of this year .

KMV模型运用于我国现实中存在非流通股定价、历史违约数据不全、公司价值和股权联立方程稳定性以及违约点的设定等问题。

KMV model used in our reality , there is the pricing of non-tradable shares , the historical default data was incomplete , firm value and equity simultaneous equation set point stability and issues such as breach of contract .

VaR技术对非流通股过渡流通方案的研究

A Study of the Scheme of the Transition of Stocks from Non-circulation to Circulation

在产权关系没有理顺之前，特别是在证券市场非流通股和流通股并存的双轨制情况下，事实上并不具备在上市公司推行MBO的时机和土壤。

Before the property rights are clear , especially there are both n on - exchangeable security and exchangeable security , there is no chance and soil for MBO in the market .

由于市场疲弱，以及就如何制定新政策、允许上市国有公司减持非流通股问题展开了长达三年的讨论，中国的IPO曾搁置了很长时间，直到不久前才重新开始。

China has only recently restarted IPOs after a long delay caused by a weak market and a three-year debate over formulation of a new policy freeing listed state enterprises to sell down their non-tradeable shares .

正是从解决问题的角度出发，笔者在第三章提出了X股市场的定价方法，即通过开辟一个非流通股和流通股的置换市场实现对非流通股的动态、间接市场定价。

The author proposed in Chapter Three a pricing method by establishing a " X Stock Market ", i.e. a market where the transferable shares and the non-transferable shares can be exchanged , which offers a dynamic and indirect pricing for non-transferable shares .

应用KMV模型需要达到三个方而的条件，即非流通股定价、违约数据的获取和资产价值的方差。

Application KMV model which puts need to three conditions , namely the non-tradable pricing , breach of contract data acquisition and the variance of asset value .

本文结果可为非流通股上市流通政策提供参考。

The results provide useful information to circulate non-circulating equity ownership .

上市公司的流通股和非流通股对公司绩效的影响不同。

Liquid and non-liquid shares affect corporation performance in different ways .

上市公司非流通股协议转让定价问题研究

Research on the Pricing Problem of Non-tradable Stock Transfer of Listed Company

流动性视角下的非流通股定价策略分析

Based on the Liquidity of the Non-tradable Share Pricing Model

上市公司非流通股价值评估初探

Thinking about the Appraisal for Non-marketable Share of Listed Companies

二是将股权按意识形态划分为流通股和非流通股；

Equity was divided into circulating stock and non-circulating stock ;

基于解决股权分置的非流通股定价研究

Research on the Program of Pricing the Un-negotiable Shares

非流通股协议转让的市场效率研究

The Market Efficiency Research on Noncirculating Stock Negotiated Transition

非流通股是中国证券市场的独特问题。

Non - transferable shares are the unique issue in Chinese stock market .

两市场隔离阶段式并轨的非流通股流通方案

On the Circulation Scheme of Non - negotiable Stocks in the Two Markets

上市公司非流通股转让价格分析

The Analysis on Transfer Price of Chinese Listed Firms

在2005年以前，非流通股几乎占据了中国上市公司三分之二以上的股份。

Non-tradable shares accounted for almost two-thirds of all shares of Chinese listed companies .

认为控股股东利用非流通股解禁实现了利益转移。

They think the controlling shareholders transfer the benefit by selling their holding shares .

上市公司非流通股的安排及政策的考证

On the Arrangement and Policy of Corporations Nonnegotiable Shares in the Present Stock Market

上市公司股份分为流通股和非流通股，流通股以A股为主，非流通股包括国有股和法人股。

The share of listed company is divided into circulating stock and non-negotiable stock .

非流通股流动性价值的收购方法实证研究述评

Survey of Positive Studies by the Acquisition Approach on the Liquidity Premium of Illiquid Shares

非流通股流通&塑造我国股市持续、稳定发展的制度基础

Circulation of Non-circulating Stocks System & Basis for Shaping China 's Sustainable Steadily-developing Stock Market

非流通股流通的新方案

New Scheme for Negotiation of Nonnegotiable Shares

减持非流通股。

Second , reduce the non-tradable shares .

在上市公司当中，非流通股和流通股之间存在着巨大的利益差距。

In listed companies , there is enormous profit disparity between non-negotiable stocks and circulating stocks .

上市公司存量非流通股流通改造方法研究

Study on Reforming Non-circulative Share Method

上市公司非流通股的定价研究

Pricing of Non-tradable Shares in China

随着非流通股的逐步解禁，大股东减持成为关注的焦点。

As Non-tradable shares gradually lifted , big shareholders ' reduction became the focus of attention .