股票是信用制度创造的联合资本,是一种信用关系。股票市场的特殊性,决定了它的不确定性和信息不对称更为严重,道德风险更为突出,因而信用更为重要。信用是维持股票市场正常运行的基础,没有信用就没有股票市场。当前我国股市最突出的问题当属信用缺失,出路就在于重建股市信用秩序,形成市场自身的信用基础。 Stock is the joint capital created by the credit system and is a kind of credit relationship. The particularity of the stock market determines its uncertainty and information asymmetry is more serious, moral hazard is more prominent, so credit is more important. Credit is the basis for the normal operation of the stock market. There is no stock market without credit. At present, the most prominent issue of the stock market in our country is the lack of credit. The way out lies in rebuilding the credit order of the stock market and forming the market’s own credit foundation.