论文部分内容阅读
股市不仅为上市公司提供融资渠道,也为投资者提供赚钱的渠道。因此,成熟的股票市场既为上市公司服务也必须为投资者服务。如果只重视融资,而投资者没有利益回报,就没人愿意投钱到股市中,则股市就变成了一潭死水。如果只重视投资,失去为企业融资的杠杆功能,则不能起到促进企业和产业发展的作用2007年金融危机之后,中国股市一泻千里,屡创新低,至今也没有好转。而这期间,中国的GDP还是维持增长,且增速从没低于8%,位于全球第一。中国股市与经济不匹配的原因被很多专家分析过,比如过多IPO导致股市失血,大小非股东不断大幅减持股份套现等等。这些现象的背后是一些中国股市自己的特征。
The stock market not only provides financing channels for listed companies, but also provides investors with channels for making money. Therefore, a mature stock market both for listed companies and investors must also serve. If only the importance of financing, and investors have no interest returns, no one is willing to vote in the stock market, the stock market has become a pool of stagnant water. If we only focus on investment and lose the leverage function of financing for enterprises, we can not play a role in promoting the development of enterprises and industries. After the financial crisis in 2007, China’s stock market plunged into new highs and hit a record low, so far it has not improved. During this period, China’s GDP still maintained growth, and the growth rate never dropped below 8%, ranking first in the world. The reasons for the mismatch between China’s stock market and the economy have been analyzed by many experts. For example, excessive IPO has led to blood loss in the stock market, and large and small non-shareholders have substantially reduced their shareholdings and so forth. Behind these phenomena are some of the characteristics of China’s stock market.