金融危机后的我国股市呈现明显的估值扩散现象。本文通过对A股市场在2010年7月2日跌至2316点以及2012年1月份创出2132点这两个阶段性低点前一个月期间,分别创出2009年以来阶段新高和新低的公司数据进行Logistic回归分析,发现一致性预期和流通市值是估值扩散的主要驱动因素,并在此基础上提出相应策略建议。 China’s stock market after the financial crisis showed obvious appraisal and proliferation phenomenon. This article creates a record high and low for the period since 2009 by the A-share market falling to 2316 on July 2, 2010 and the one-month low of 2132 during January 2012. Logistic regression analysis of the data, found that the consistency of expectations and market capitalization is the main driving force for the proliferation of valuation, and on the basis of the proposed policy recommendations.