股市的主要功能是有效的配置资源．但我国的股市，尤其是上市公司有待成熟“投资饥渴症”往往使它们不计后果地胃口大开。从目前来看．增发实际上已成为对业绩滑坡的落后企业的救济，根本谈不上鼓励先进．谈不上优化经济结构。研究一下增发的二级市场效应，我们发现。虽然不断 The main function of the stock market is to effectively allocate resources. However, the stock market in our country, especially the listed companies, have yet to mature. “Investing in hunger and thirst” often makes them reckless in their appetite. From the current point of view. The issuance has in fact become a relief to the backward enterprises with declining performance, which is far from encouraging advanced. Not to optimize the economic structure. To study the additional secondary market effect, we found. Although constantly