从微观角度剖析中国的股市,我们会发现,真正导致中国股市无法发展壮大的是一条中国股市特有的大股东财富创造产业链,笔者称之为“黑色产业链”。IPO之所以受到如此追捧,不仅是因为它能够让企业融到一笔成本很低的资金,同时也是为定增做准备,而定增能够让企业源源不断地融到低成本 From the microscopic point of view of China’s stock market, we will find that the real cause of China’s stock market is unable to grow and develop is a stock market-specific wealth of major shareholder-creating industry chain, I call it “black industry chain.” IPO is so sought after, not only because it allows companies to melt into a very low cost of funds, but also for the fixed-set to do, and will continue to increase the steady flow of enterprises to low-cost