dividend irrelevance

基本解释

Before I talk, I just want to say one more thing about Modigliani-Miller and dividend--irrelevance of dividends.
在講之前,我想再說一點,關於MM模型和股利無關性
Unexpected cash dividends have little impact on the earnings signal, which is in consistent with the dividend irrelevance arguments.
現金股利和股票收益之間也沒有明顯的聯系，這和股利不相關理論是一致的。
Through the academic history, there have been three major theories on the economic effects of dividend tax: the irrelevance theory, the traditional theory and the tax capitalization theory.
縱觀學術史，有關股息稅經濟作用的論述主要分爲三種觀點：傳統觀、稅收無關觀以及稅收資本化觀。

When Modigliani--this sounds like a very strong proposition about dividend irrelevance.
儅莫迪利阿尼...他對股利無關性的表述,聽起來有些絕對
耶魯公開課 - 金融市場課程節選
When we think about the theory of dividend or debt we end up with irrelevance-- it doesn't mean anything-- but the companies' boards talk about it incessantly and it seems to matter a lot to them.
我們一講到股利或者負債理論,最後都是不相關的,沒有什麽意義,但是公司的董事們不停的提起這些,看起來又對他們很重要
耶魯公開課 - 金融市場課程節選
Before I talk, I just want to say one more thing about Modigliani-Miller and dividend--irrelevance of dividends.
在講之前,我想再說一點,關於MM模型和股利無關性
耶魯公開課 - 金融市場課程節選