流通市值

截止到2002年12月底，沪、深股市共有上市公司1160家，总市值43522.20亿元，流通市值14463.17亿元。

Up to the end of December 2002 , there are 1,160 listed companies in Shanghai and Shenzhen Stock Exchanges , with the market value of 4352.22 billion Yuan in total and circulation market value of 1446.317 billion Yuan .

而基于VAR系统的Johanson协整检验表明了股票市场流通市值、货币供应量以及同业拆借利率三者之间存在长期稳定的关系。

VAR-based system Johanson cointegration test shows that the market value of the stock market liquidity , money supply and lending interest rates between the three long-term stable relationship .

而基于VAR系统的脉冲响应函数分析和方差分解可以看出，股票市场流通市值对于固定资产投资的贡献度，相比于金融机构信贷来说还比较低。

VAR-based impulse response function of the system analysis and variance decomposition can be seen , the stock market liquidity of the market value of the contribution of investment in fixed assets , compared to financial institutions , credit is still relatively low .

第一阶段实证分析的结论是EG协整检验表明广义货币供应量与股票流通市值存在协整关系和单向的Granger因果关系；全国同业拆借利率与股票流通市值不存在协整关系和Granger因果关系。

The first phase of empirical analysis concludes that the EG cointegration test shows that the broad money supply and stock market capitalization Cointegration and one-way Granger causality ; national interbank interest rates and stock market capitalization does not exist cointegration and Granger causality relationship .

本文基于STV（2006）经验框架的研究表明，从整个市场水平看，我国A股市场上存在明显的过度自信效应，并且过度自信效应在小流通市值股票及早期的证券市场上尤为明显。

Based on the empirical framework of STV ( 2006 ), this paper from the whole market view shows that there is obvious overconfidence effect in Chinese A Share Market , especially in the small float cap stocks market .

过去的输家组合的β因子和流通市值均处于中上水平，并没有太大的风险。

The past losers β factors and circulating market value are middle level .

证券投资基金羊群行为与流通市值呈负相关；

Herd behavior of the securities investment fund correlates positively with the circulated market value ;

机构投资者对上市公司流通市值也有显著影响，上市公司流通市值比例与机构投资者持股正相关。

The proportions of current market prise of the listed company are correlated positively with the proportions of institutional shares .

我国的证券基金近几年迅速发展，基金总份额达到1362亿，占股票流通市值的10%以上。

In China , Security funds have developed rapidly in recent years . The shares of security funds have reached 136.2 billion .

中国资本市场经历了二十年的发展，目前流通市值近20万亿，上市公司2000余家。

Chinese capital market has nearly 20 trillion market value and more than 2000 listed companies , during the last 20 years development .

与发达股票市场不同，我国股市系统流动性的显著性比例与流通市值无明显的单调关系。

Finally , the sensitivity to liquidity doesn 't have a significant monotonic relationship with capitalization for A-share stocks in Shanghai Stock Exchange .

外国投资者持仓规模仅占A股总流通市值的1%，因此有很大的上升空间。

Foreign investors own just 1 per cent of the total free-float market capitalisation in China so there is a lot of room for growth .

在公告日后的较长时间窗口，中等规模流通市值事件组的内部人购买（增持）公告效应最显著。

The announcement after a longer time window , the announcement effect of the internal purchase of medium-sized float market capitalization event group is most significant .

论文还对股票按照流通市值进行了区分，研究的结果表明，在股票市场中，无论是大市值股票还是小市值股票都受到投资者情绪因素影响。

In this thesis , we also distinguish the shares through the current market value , and the result is that both the shares whether large or small is subjected to the investor sentiment .

并且，随着流通市值的增大，同期交易量对收益率的解释能力在逐渐增强，而滞后期交易量却得到截然相反的结论。

And with the increase of market capitalization , the explanatory power of trading volume over the same period of the yield gradually increased , while the lag trading volume has been diametrically opposite conclusion .

中国股票市场仍然存在主动融资机制，对于高流通市值公司尤为突出，但现行投、融资行政审批制度的政策约束会造成股票定价偏高低成本发行新股融资实际投资上升的传导时滞。

There is active financing mechanism in China stock market , especially for the companies that have higher circulating shares . But there is delay because of the administrative stipulation of the real investment and financing .

证券投资基金逐渐成为我国证券市场上举足轻重的机构投资者，截止2005年底其投资额占股市总流通市值的20%以上。

Security funds gradually become one of important institution investors in Chinese securities business . At the end of year 2005 the investment of security funds amounts to over 20 percent of total current stock market value .

截止到2009年6月底，我国已有60家基金管理公司管理着492支各类基金，基金的资产净值占证券市场流通市值的比例已经超过40%。

Till to the end of June 2009 , there are 60 fund management companies managing 492 funds of all kinds . The percentage of funds ' net value to the market value of the security market is already over 40 % .

其中，股票流通市值与货币供应量存在正向关系，与同业拆借利率存在负向关系，并且货币供应量对股票市场的影响要大于同业拆借利率的影响。

Among them , the stock market and money supply in circulation there is a positive relationship with the existence of a negative relationship between interbank rates and money supply , the impact on the stock market is greater than the inter-bank interest rates .

2005年6月6日中国股市跌破了1000点整数关口，上万亿的流通市值损失只为告诉我们一个简单的道理：证券市场必须生长在诚信的土壤里。

On June 6th , 2005 the Shanghai Composite Index fell below 1000 . During four years bear market investors have losed almost $ 1,000 billion , and the heavy loss gives us a lesson that the stock market must build on the foundation of credit .

相应地，基金资产占股市流通市值的比例也由1998年的1.87%提高到现在的约10%。

Up to now , the number of the companies has increased to 24 and the fund assets have amounted to more than 1300 hundred millions RMB . Accordingly , the ratio of the fund assets to the circulating market value is raised from 1.87 percent to 10 percent .

指数所代表的流通股权市值有多少？

What is the market capitalization represented by the index ?

在此分析框架下，建立了包含股票价格、股票价格波动性、股票市场交易量、股票流通总市值等要素的股票市场对经济增长影响模型。

And then established the economic growth impact model including factors such as stock price , stock price volatility , stock market trading volume , and total market value of shares in circulation etc. .

高盛（GoldmanSachs）估计，此类贷款相当于符合融资交易条件的股票的自由流通股总市值的12%，国内生产总值（GDP）的3.5%。

Goldman Sachs estimates such lending equals 12 per cent of the free-float market capitalisation of margin-eligible stocks , and 3.5 per cent of gross domestic product .

即使这些投资额度被全额发放，境外投资者仍将仅占中国自由流通股总市值的大约1%。

If the quota is fully subscribed , foreign investors will still account for only about 1 per cent of total free-float market capitalisation in China .

自由流通股占总市值的比例相对较低。

Equity free float as a proportion of total market capitalisation tends to be relatively low .

因此在实证过程中，样本企业的股票市值由流通股和非流通股的市值加总得到。

So in empirical process , by the stock sample enterprise value of non-tradable shares and get up .