In this paper, stock index futures theory prices is derived from Cost-of-carrying model gives rise to the concept of index futures mispricing.

本文从持有成本模型推导出的股指期货理论价格出发，引申出指数期货错误定价的概念。

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However, the existence of imperfect markets, there is obstruction to the transmission of information, will form the mispricing of stock index futures.

但由于市场是不完美的，对信息传递存在阻碍，会形成股指期货的错误定价。

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The idea that stock mispricing supports the creation of ownership structures prone to agency problems has important implications for corporate governance regulations.

FORBES: Do Inefficient Stock Markets Drive Bad Corporate Governance?

Motivated by the growing literature studying the effects of stock market mispricing on firm behaviour (see for example Stein 1996, Shleifer and Vishny 2003, and Baker 2009), we develop a simple framework for thinking about how stock market mispricing can offset agency costs and induce controlling shareholders to raise outside equity.

FORBES: Do Inefficient Stock Markets Drive Bad Corporate Governance?

Stock market mispricing induces the controlling shareholder to sell overpriced equity, subsequently diverting resources to his benefit.

FORBES: Do Inefficient Stock Markets Drive Bad Corporate Governance?