The key function of stock market is capital allocation.
股票市场最核心的功能是资本配置功能。
The governance efficiency in the listed companies demonstrates the governance function of stock market.
上市公司的治理效率反映股票市场的治理功能。
As a core function of stock market, value discovery can promote listed company to improve their funds use efficiency, but mis-pricing problems are often been used by corporate managers.
市场价值发现作为证券市场核心功能，敦促上市企业提高资金的使用效率，但不合理的市场定价往往又被企业管理者加以利用。
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