货币需求通过直接和间接方式对股票市场产生影响，而股票市场通过财富效应、交易效应、资产组合效应和替代效应的共同作用对货币需求产生影响。
Namely, including the direct demand in money, the stock market exerts influences on the money demand by the combined roles of effects of wealth, exchange, asset integration and substitution.
货币需求通过直接和间接方式对股票市场产生影响，而股票市场通过财富效应、交易效应、资产组合效应和替代效应的共同作用对货币需求产生影响。
Namely, including the direct demand in money, the stock market exerts influences on the money demand by the combined roles of effects of wealth, exchange, asset integration and substitution.
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