来自《耶鲁大学开放课程：金融市场 第11集 第11集》
-
like if the company decides to build that new plant in Akron.比如公司决定在阿克伦城建个新工厂 -
That matters for the company这对公司有影响 -
because if the plant works out to be a success,因为工厂一旦运转成功 -
then the company will do well.业绩就会上升 -
They're spending money on concrete, and bricks, and machinery,他们花钱买混凝土 砖块和机器 -
and they could be doing that wisely or unwisely这个决策可能明智也可能不明智 -
and that's beyond finance to evaluate.但这不是金融学的讨论范畴 -
What Modigliani and Miller said,莫迪利阿尼和米勒的观点是 -
if it's pure dividend policy,如果是单纯的股利政策 -
then it is totally irrelevant;则与之完全不相关 -
it means nothing, so companies can do whatever they please--它没有意义 所以公司可以任意施为 -
I don't care.我不在乎