在西方,如果企业垮了,股票将一钱不值,但在中国,一个企业破产了,可能创造出对壳的需求。这个壳在经济学上是什么意思?它代表管制租金。这个壳又可以使得那些受骗的股民得到补偿。 在市场中,破产的企业是不可能有人来买的;即使买,也不付多少钱。但中国不同,上市是政府的垄断行为,我自己上不了市,就只能借壳上市。所以我说中国股市实际是一个寻租场。 你去卖西红柿的时候,如果烂的西红 In the West, if the business collapses, the stock will be worthless, but in China, a business goes bust, creating the need for a shell. What does this shell mean economically? It represents controlling rent. This shell in turn can make those deceived investors get compensation. In the market, bankrupt companies can not be bought by anyone; even if they buy, they do not pay much. However, unlike China, going public is a monopoly by the government. I can not go on the market myself and can only go back to the market. So I said that the Chinese stock market is actually a rent-seeking market. When you go to sell tomatoes, if the rotten red