非流通股引起了各种市场缺陷和公司治理问题。
Non-tradable shares have caused various market deficiencies and corporate governance problems.
中国证券市场的关键问题之一是非流通股的存在。
A critical problem in Chinese securities market is the existence of 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.
股权分置是指我国上市公司中存在的非流通股和流通股并存的情况。
Share-split is a situation that tradable and non-tradable stocks coexist in the listed companies of China.
他说次级债非流通股股东如果倾向选择优先股或普通股,将会一无所获。
The American film-rental chain said current holders of subordinated debt, preferred stock or common stock would get nothing back.
解决这一问题的关键是完善股权结构和妥善解决非流通股的流通问题。
The key to solving the problem is to improve equity structure and make appropriate arrangements for the circulation of non-circulating shares.
在二元股权结构下,流通股和非流通股共存,二者的利益实现方式不同。
Under the two-dimension equity structure, public shares and no-public shares coexist and have different ways to realize their interests.
若跟总市值(包括流通股和非流通股)相比,该比例将更大幅度被降低。
If compared with the total market cap (including free floating stocks and non-circulating stocks), this ratio will be slashed more.
运用经济数学模型测算,可以为非流通股实现全流通提供定量分析的依据。
The calculation of economic mathematical models can be employed to provide quantitative analysis for complete circulation of uncirculated stock.
非流通股股东的利益主要是通过溢价发行、净资产增值和盈利分红来实现。
No-public shareholders realize their interests mainly through premium issue, net assets appreciation and money bonus.
非流通股股东因增发新股而获益,倾向于增发新股及提高增发股票价格和规模。
Non - circulating shareholders have profit for seasoned new equity offerings and they perferto enhance price and quantity of seasoned new equity offering.
占据股权份额2/3的非流通股主要掌握在国家和法人手中,显现出高度的集中性;
The non-tradable shares, which take 2/3 in the total shares, are highly concentrated in the hands of the state and the legal persons.
第四部分以实证分析的方法分析中国上市公司的流通股和非流通股与公司绩效的关系。
Section Four uses empirical research to analyses the relationship between the liquid and no-liquid share and the corporation performance.
本文主要是对外资收购我国A股市场上市公司非流通股股权作价方法的理论和运用研究。
In this paper, the pricing method on foreign company acquiring non-common shares of Chinese listed company in A stock market is the main topic.
在本方案中有4个利益主体,分别是上市公司、非流通股股东、流通股股东和优先股投资者。
There are 4 interest objects in the project, the listed company, the non-exchangeable-share holders, the exchangeable-share holders, and the preferred stock investors.
公司董事会正在督促各非流通股股东就公司重新启动股改程序的时间与具体方案尽快达成共识。
Board of Directors is to urge the non-tradable shareholders on the company to restart the reform process with concrete proposals to reach a consensus as soon as possible.
此等估值基于一个不太可能的假设,即中石油国有母公司持有的全部非流通股,均与流通股等值。
Such valuations are based on the improbable projections that all of the company's non-tradable shares still held by the state parent are equal in value to the traded shares.
上市公司解决股权分置方案由非流通股股东、公司管理层、机构投资者、自然人股东之间的博弈决定。
The act of solve the split share structure in listed company is decided by non-negotiable shareholder, company government, institutional investor and nature person.
但可以肯定的是,全流通是一个博弈的过程,最终的对价方案取决于流通股股东与非流通股股东博弈的结果。
However, it is affirmed that the final consideration scheme lies in the game results of liquid share holders and illiquid share holders.
基于非流通股协议转让交易的样本和限售股协议转让交易的样本,实证检验了股改前后上市公司的利益输送行为。
Based on the sample of the non-tradable shares transfer and restricted shares transfer, the paper analyzes the tunneling before and after the non-tradable share reform.
第三部分在委托代理理论的基础上分析了股权结构对公司绩效的影响,对流通股股东和非流通股股东进行行为分析。
Section Three analyses the impact of EOS on corporation performance and the behavior of both liquid and non-liquid shareholders based on the agency theory.
对于非流通股股东到底应该支付多少对价,有关各方仍处于各种朦胧的概念与模型当中,目前还不存在一个统一的标准。
As to how much consideration illiquid share holders should pay on earth, the interested parties are still beset with various dim concepts and models, have not a unified standard at present.
上个月,作为一家金融大鳄乔治·索罗斯入股14.8%的地方性航空运营商,海南航空宣布计划卖出非流通股,为扩张筹资并用于偿还债务。
Last month, Hainan Airlines, a regional carrier in which George Soros, a financier, holds a 14.8% stake, announced plans to sell its non-tradable shares to finance expansion and repay debt.
本方案设计股份全流通的思路是:保持股份总量不变,对原非流通股和流通股依据其现时价值占所有股份总价值的比重进行股份数量的重新平衡分配。
The essence of the scheme designing is: stock gross fixed, the quantities of the prohibited shares and public shares are admeasured in the light of their present value proportion.
套利者、可以通过受让低价非流通股控制上市公司,在这之前购入低价的普通股,在重组公布时抛售套取利润,或者在重组成功后通过再融资套取利润。
An arbitrator can gain extra profit by buying the common shares at a relatively low price, and sell them at a high price before the news that acquisition happens or through stock financing.
由于特殊的历史原因,中国股票市场的上市公司内部普遍形成了非流通股和流通股两种不同性质的股票,从而造成了两类股票同股不同价、同股不同权市场制度与结构。
Because of historical reasons the listed company interior generally went on to form non - circulation stock and the circulation stock two kinds of stock in the China stock market.
由于特殊的历史原因,中国股票市场的上市公司内部普遍形成了非流通股和流通股两种不同性质的股票,从而造成了两类股票同股不同价、同股不同权市场制度与结构。
Because of historical reasons the listed company interior generally went on to form non - circulation stock and the circulation stock two kinds of stock in the China stock market.
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