also: くうかぶ
noun
fictitious stock; watered stock
Rare financial term for shares that exist on paper but lack real capital backing. Mostly encountered in historical or legal contexts.
戦前の金融界では空株が問題になることがあった。
In the prewar financial world, fictitious stock sometimes became a problem.
空株の発行は現在の会社法
Issuing watered stock is strictly regulated under current corporate law.
架空資本 (fictitious capital) is a broader economic concept, while 空株 specifically refers to shares without real asset backing.
Compound of 空 (から, 'empty') and 株 (かぶ, 'stock'). The reading くうかぶ uses the on'yomi of 空.