Another scholarly view accepts negotiability even when illiquid assets are around one-third of total assets. The idea is that a significant tangible component may be enough to prevent the share from being treated as pure money.
This shows that the exact percentage is a juristic issue on which contemporary scholars have differed.
Opening interactive controls...
Equity Investment: When Are Shares Tradable?
Another scholarly view accepts negotiability even when illiquid assets are around one-third of total assets. The idea is that a significant tangible component may be enough to prevent the share from being treated as pure money.
This shows that the exact percentage is a juristic issue on which contemporary scholars have differed.