负债不相关理论说明它和,公司发行股票的每股价格,和总负债有关,但和公司的价值无关
The debt irrelevance theory says that it matters for the price of a share what a company issues-- how much debt it takes on-- but it doesn't matter for the value of the company.
理解MM负债不相关性的，最简单的方法是这样的，一家公司，如果你想买下一家公司，你可以通过股票，普通股来买。
The simplest way to see Modigliani-Miller debt irrelevance is the following: a company — if you wanted to buy a company, you could buy only the shares, or equity.
吉姆·罗杰斯：商品与股票不相关已经好几十年。
Jim Rogers: Commodities have not correlated to stocks for many decades.
现金股利和股票收益之间也没有明显的联系，这和股利不相关理论是一致的。
Unexpected cash dividends have little impact on the earnings signal, which is in consistent with the dividend irrelevance arguments.
但是，“不相关”的名人却比不相关的非名人对股票价格影响力更大。
Yet "unrelated" celebrity directors had a bigger impact on share prices than unrelated non-celebrities.
但是，“不相关”的名人却比不相关的非名人对股票价格影响力更大。
Yet "unrelated" celebrity directors had a bigger impact on share prices than unrelated non-celebrities.
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