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.

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

耶鲁公开课 - 金融市场课程节选

It's kind of like the average price of a share adjusted for splits because you don't want the--obviously when they do a two-for-one split, the price falls in half and that's meaningless, so you want to correct for splits.

有点像经过分割调整的股票平均价格,因为你不想,当一股分割成两股,价格下跌一半,这是没意义的,所以要修正分割

耶鲁公开课 - 金融市场课程节选