Study for Liquidity Premium of Illiquid Share in China;

Using the relevant data, this paper studies the changing trend of the first shareholder of China s listed companies in the period of 1999-2001 and analyzes the effect of the changes on the promotion of the circulation of non-current shares, on the improvement of the listed companies performance and on the reduction of the first shareholder s shareholding proportion.

To realize inclusive circulation of shares, the security supervisory institution should promulgate related rules to compensate shareholders of circulating shares.

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.