问题如下：
Below listed some reasons for a company to issue equity securities on the primary market. Which is incorrect?
选项：
A. A company can raise capital through issuing equity.
B. A company can increase liquidity through issuing equity.
C. A company can increase its ROE through issuing equity.
解释：
C is correct.
Issuing shares in the market increases the total amount of equity invested, so it leads to lower the company's return on equity because the total amount of equity is the denominator of ROE calculation.
为什么公司发行股票，股本的回报率就低了？
