A critical problem in Chinese securities market is the existence of non-tradable shares.
中国证券市场的关键问题之一是非流通股的存在。
Non-tradable shares have caused various market deficiencies and corporate governance problems.
非流通股引起了各种市场缺陷和公司治理问题。
Share buybacks may remove some immediate concern about a potential flood of previously non-tradable shares onto the market.
股份回购可能会消除投资者眼前对“大小非”可能涌入市场的担忧。
Then, with dynamics game model I analyze the interest games of the new round of institutional change of non-tradable shares.
本文进一步以动态博弈模型分析新一轮股权制度变迁过程中的利益博弈。
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.
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；
It is precisely because of these two reasons, after the reform of non-tradable shares, listed companies have a strong market value management motives.
正是基于上述两方面原因，“股改”后的上市公司有强烈的股票市值管理动机。
After regression analyzing the transfer price, we can give some reference to the transfer price of the non-tradable shares using the regression method.
通过对绩优公司、业绩一般公司和壳公司的转让价格进行回归分析，运用回归法对非流通股权转让定价提供参考。
Huawei is owned totally by its employees - with around 60% of its staff holding non-tradable shares that are allocated according to position and performance.
华为的股份全部在员工手中公司中约60%的员工拥有非流通股份，份额根据在公司的职务和表现配给。
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.
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。
Since 2007, overall listing is the formation of an unprecedented boom, if reform of non-tradable shares is the most import thing in 2006, then in 2007, is overall listing.
2007年以来，整体上市更是形成了一个空前的热潮，如果将2006年称为股改年的话，2007年可以称作是整体上市年。
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.
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。
How to evaluate the premium of transfer price, what is the key factors to determine the transfer price and how to price the non-tradable shares reasonably are the main topics in this paper.
本文试图研究如何衡量转让溢价，转让价格与哪些因素有关等相关问题以便为非流通股权转让定价提供参考。非流通股权定价主要有净资产法和利益权衡法。
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.
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.
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。
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