That is, share repurchase can change the units of measurement in a security and companies have to decide how leveraged the stock will be, which changes the stock price--leverage, meaning how much debt the company takes on.

即 股票的购回会改变,已发行股票的单位数量,公司需要决定,股票的杠杆效用是多少,杠杆会改变股价,杠杆指的是公司举债的多少

耶鲁公开课 - 金融市场课程节选

We'll be talking about the Modigliani-Miller Theorem and related issues in this lecture as well as something about the behavior of the stock market and its tendency to go through dramatic movements.

我们会讲到,MM定理,和与其相关的问题,还会讲到,股市行为和,股市戏剧性的运动趋势

耶鲁公开课 - 金融市场课程节选