Shares outstanding are all the shares of a corporation that have been authorized, issued and purchased by investors and are held by them. They have rights and represent ownership in the corporation by the person that holds the shares. They are distinguished from treasury shares, which are shares held by the corporation itself and have no exercisable rights. Shares outstanding plus treasury shares together amount to the number of issued shares.
1、Shares Outstanding是已發行股票指由投資者擁有的股票數量。這包括有限制股票（公司管理人員及內部人士持有）以及公眾持有的股票。公司回購的股票不包括在已發行股票之內。 2、對於各個投資領域內的專業人員，包括基金經理、證券分析師、財務總監、投資顧問、投資銀行家、交易員等等，CFA非常重要；它直接證明了你的職業素養和能力，被投資業看成一個“黃金標準”,這一資格被認為是投資業界中具有專業技能和職業操守的承諾。考生考過CFA對自己將會有很大幫助。
Shares outstanding are all the shares of a corporation that have been authorized, issued and purchased by investors and are held by them. They have rights and represent ownership in the corporation by the person that holds the shares. They are distinguished from treasury shares, which are shares held by the corporation itself and have no exercisable rights. Shares outstanding plus treasury shares together amount to the number of issued shares.