Game Analysis on the Process of the Convertibility of the State-owned Shares in China's Stock Market and Its Pricing
MA Yong-bo · The Study of Finance and Economics · 2004
The paper analyses the convertibility of state-owned shares from the two perspectives of static game and dynamic game theory. We hold that it should be carried out as soon as possible, for its postponing will incessantly increase the cost of the two parties of the game. Whether it is seen from the theoretical prospective or actual results, the pricing of the convertibility of state-owned shares should be based on the value of net assets.