Liu Wanjun: Dividend And Trap Of Rising Stock Index

Which country, the development of the stock market is mainly to shift the risk of banks, to establish direct investment and financing channels of capital supply and demand, and to increase capital gains and reduce financing costs. For our country, there are more reasons for developing the stock market. For example, for the country, a large amount of idle funds do not need to concentrate on the financial system, and then invest in the real economy through loans, which can guide some savings directly into the listed companies, all of which are promoting economic development. Obviously, they are directly invested in the stock market to bypass the bank intermediaries, so that the funds are indeed invested in the listed companies, and for enterprises, through the listing, they can use funds freely, and even the most basic dividends are not done. In fact, no matter what

As for the stock market, because of the high returns of the stock market, many people who are strong in risk and pressure can invest their money into the stock market in order to get a good return. In fact, Chinese people have the habit of gambling, and the Chinese stock market is like a gambling field. Even if they are willing to invest in high risk, you can see that the old man has put money into the stock market. In fact, there has been a huge loss in stock investment in the past few years, but there is no such thing as a raging exchange.

However, I think that in such a political and social environment, the motives of listing a large number of listed companies are not pure, so they are not listed for financing the development needs. Instead, they are losing money from the market through listing, which undoubtedly makes the stock market lose its basic functions and become excessive over the short term frequent buying and selling. Speculative market As a result, the price and trend of stocks do not depend entirely on the fundamentals of the company, but on the institutions and brokerages who have the right amount of capital. On the one hand, they have the advantage of capital, and then they have the information superiority, and their every move will also cause the herd effect, which will make the stocks and even large plates fluctuate more sharply. Obviously, investing in the stock market should establish a long-term goal, and the listing mechanism in China should be improved.

In addition to breaking the stock market information It is more important to establish an exit mechanism and enhance the quality of listed companies through competition mechanism, so that the market can really leave behind the listed companies with technology and development prospects, so that they can get in capital and enjoy low financing costs.

　　当下的股指较快速度的上涨，我想管理层面起到了推动的作用，意图不言而喻就是在实体经济低迷，企业资金链紧张，消费不振的情况下，通过提振股市，来使局部市场焕发活力，进而引导部分银行储蓄和市场闲散资金入市，在享受政府推动股指上涨的红利的同时，为股市，为上市公司，为经济增长及时补血输血，一方面上市公司获得资金或可以度过难关，或可以追加投资，而对于个人来说，股指上升，收益增加，自然会提振消费，但是经过较短时间的上涨，由于上市公司的不争气，市场投机力量的分化，价格又会明显的回落，然后寻找新的炒作题材，如此反复，最终不仅使存量资金难以解套，增量资金也进出难舍，也就是当下的股指上涨对股民来说既是红利，又是陷阱，当然经过6124高点之后，这几年的中国股市一直表现不如意，主要是 New shares 发行和老股增发吸纳了太多的资金，同时上市公司数量众多也稀释了资金的推动力，从这方面上看未必是坏事，因为即使得更多公司得以上市融资，又不至于出现个别股票价格，乃至局部市场异常大幅波动，但是另外一方面大量公司的上市也使得质量千差万别，而一般很难有信息辨别，而等吃亏时为时已晚，所以上任郭树清主席说IPO可不可以不审，通过退出机制让市场和股民自发选择和淘汰，但是很有可能许多股民要接受一次次亏损的教训了都不可能对个股慧眼识珠，提高上市公司的质量和建立确保其努力生产和经营并对股东负责，受股东监督的体制机制建设需更进一步，当然作为资金的蓄水池，通过股市带动，可以起到四两拨千斤激发整个市场活力的作用!