An Analysis on Influencing Factors of Stockholders Interests Redistribution from a Consideration View of Non-Tradable Shares Reform in Medicine Industry

Yuhe Wang

Abstract


As the full-circulation reform is close to an end, this paper intends to study the influencing factors of probability at certain consideration level by an empirical analysis of medicine industry and constructing a discrete choice data model, by which to research the influencing factors of stockholders interest redistribution. Results show that factors that affect the choice of consideration intervals are different and different factors prefer various probabilities of consideration levels. The higher the proportion of non-tradable stocks, the more the consideration interval is in 2.5-3.4; the higher the ROE, the lower the consideration payment is; the larger the M1, the more the consideration interval is less 2.5.


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International Journal of Economics and Finance  ISSN  1916-971X (Print) ISSN  1916-9728 (Online)

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