A promise of share split reform is in essence a contract between original holders of non-tradable shares and those of tradable shares.

And the results suggest that the nontradable-share holders can realize the welfare increments through equity re-financing,so the dominated shareholders have the incentives to enlarge capital through equity re-financing.

An empirical research on whether MBO create wealth for public shareholders;

On the protection of public shareholders in the reform of the split share structure;

And the results suggest that the nontradable-share holders can realize the welfare increments through equity re-financing,so the dominated shareholders have the incentives to enlarge capital through equity re-financing.

In this thesis,the quantitative analysis mode of the comparative value is put forward that non-circulation shareholder should pay for the circulation shareholder,then the formula to calculate shrinking-rate and connotive non-circulation value coefficient are set up.

In this thesis,the quantitative analysis mode of the comparative value that non-circulation shareholder should pay for the circulation shareholder is put forward,then a stock-paid method mode based on the zero-sum hypothesis is set up.

A Study on Alternative Solutions for Non-tradable Shares in China s Security Market;

This paper discusses the marketability value in China s stock market with the sample of non-tradable shares transfer before share structure reform(SSR) and the sample of restricted shares transfer after SSR.

However the separation of tradable and non-tradable shares has taken away the balance in shareholder s right and duty.