A United Share-Discounted Weighting Method and Its Applications
一种统一尺度下股本折算加权的指数构建方法及其应用

The relationship between turnover and circulating ratio of stocks is not significant, but turnover is closely related to the ratio of tradable shares by the empirical analysis. Turnover is not a good indicator for the ratio of the share discounting factor. We give a new weighting method ?united share-discounted weighting method- to solve the weighting problem of the new index. Finally, we suggest that the concave discount function is better than others in the meaning of investment.