Research background The growth enterprise market is a natural product in improving the investment and financing system,and an it is engine to push the development of high-tech enterprise as well.
一、 研究背景 创业板市场是完善投资融资体系的必然产物，是高科技企业发展的助推器。
参考来源 - 创业板上市公司审计问题探讨·2,447,543篇论文数据，部分数据来源于NoteExpress
如果它们的融资成本上升，它们将不得不削减供应或提高对冲基金等重要投资者的融资成本。
If the cost of their finance goes up, they will have either to cut the supply or raise the cost of finance to important investors such as hedge funds.
这意味着，除非不断有惊喜出现在投资者面前，否则，随着国债的再融资，通货膨胀将会导致更高的票面利率，转而成为实际债务。
This means that unless investors are repeatedly surprised, inflation will lead to higher nominal interest rates as debt is refinanced, and in turn to an unchanged real debt.
问题在于投资人并不把金融资产当作其他产品一样对待；他们并不逢股价低廉而买进，股市低迷只会打击信心。
The problem is that investors do not regard financial assets as they do other goods; lower prices do not encourage them to buy more, but simply reduce their confidence.
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