Field of A stock market begins to drop from 2015, to now already fast 4 years, good come up against not easily prices has a bit this year invert, but the stock market rises prices always is good times don't last long. A lot of shareholders are considering an issue now, this thinking that the stock market has be defeated have win, just decide to enter the stock market, now since the stock market is medium,great majority person is deficit outcome, so what sense does stock market existence have?
Actually, global stock market can divide 2 kinds normally: A kind of stock market that is mature country (for instance the stock market of Euramerican country) , developed to about a hundred go up the history, the system compares a standard relatively. Another kind, still developing the stock market in fumbling (for instance field of A stock market) . From theoretic say, the stock market should have the following 4 big functions:
The first, to appear on the market company financing, solve industry financing difficult problem. To the enterprise, if can be passed,appear on the market way be in harmony arrives capital, that is the way of financing cost lowest. Besides let appear on the market the company obtains financing besides, pass a few years, if appear on the market,the company was short of money to spend again, can apply for again directional add hair, again financing.
The 2nd, the stock market has investment function. Give investor much an investment channel, can share so appear on the market the bonus that growth of company outstanding achievement brings. American stock market rose 10 years continuously, investor has rich and generous get one's own back. Formed economy to anabiosis stage by stage then, drive appear on the market company outstanding achievement rises, share price is subsequently synchronous also rise, formed a benign investment climate so.
The 3rd, if do not have the stock market, the capital putting an amount with that disengaged society gets optimizing configuration without method. And the meaning that the stock market exists keeps the society namely volume capital rises to concentration, improve the use efficiency of social capital, obtain resource thereby optimize configuration. And be in our country, want to reduce the proportion of the indirect financing of the bank namely, open up resembles the stock market the channel of such direct financing, future assumes a more dish the action that vivid society puts quantity fund.
The 4th, the stock market is valuable discovery is in function, should appear on the market company estimate value was underestimated, immediately capital is flowed into quickly, and should appear on the market company share price by overmeasure, can appear to sell in great quantities piece. Final, appear on the market the share price of the company is met around move appraise value fluctuation is fluctuant, although have outclass of share price of period of time,appraise is worth, or far be worth under appraise, but after all meets what appraise value returns to.
But, to developing ceaselessly, for the field of A stock market that moves toward maturity stage by stage, a the meaning of existence is not such, current A for market environment, a the meaning of existence basically has the following:
Above all, excessive lay particular stress on at financing, however oversight the redound of investor. In field of A stock market, when just be being built, be to be a state-owend enterprise to take off tired, 90 time end is to let bank fund dismiss concern, before some year be to reduce cost of financing of medium and small businesses, want to achieve the financing channel with new open up of new-style medium and small businesses for science and technology now. Since 2015, every year hundreds of companies appear on the market, appear on the market the financing scope of the company is broad at dimensions of share out bonus of the corresponding period, should say A it is financing city had not been been.
Moreover, a the market that reduces the law of jungle. Current and most investor deflection at short-term seize a chance to seek private gain, play chess relying on rich scores gain on 2 class market, this also is a kind but result, because value investment earns at all,be less than money. But, the orgnaization can use the dominant position on capital, information, technology, relaxed from money of the gain on shareholder body. And appear on the market the size blame of the company, as long as when after banning carry out period to end, can decrease when share price is exalted hold a person. Come loose the probability of a final loss is very big.
Above the meaning that this 2 o'clock is existence of field of current A stock market, because existence emphasizes financing light redound, and orgnaization investor is coming loose a money of the gain on the body (itself of field of A stock market does not create any wealth of society) , below this kind of circumstance, the investor of field of A stock market escapes hard the fate that becomes the leek that be cut.
