So the total number of shares is almost-- the tendency to do splits is a cultural thing; it's of no real significance.

所以股票总数几乎是个,这种分割的趋势是文化使然,没有实际的意义

耶鲁公开课 - 金融市场课程节选

Well, it's just to keep the numbers-- there's actually not a very good reason to do splits.

其实只是为了维持一定的数量,实际上分割并没有很好的理由

耶鲁公开课 - 金融市场课程节选

There's no reason not to do splits either because it's just changing the units of measurement.

不分割也无可厚非,它只是改变了量度的大小

耶鲁公开课 - 金融市场课程节选

But typically, in the United States, they do splits to keep the price of a share somewhere in the $20 to $40 range; there's interesting literature on why they do that.

一般来说,在美国,分割旨在将每股价格,维持在20到40美元间,为什么这样做呢,有一个很有趣的理论

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

Most companies do splits because that might close the-- you might have been thinking about investing in Google but you could still--you could just say, I want to buy ten shares or five shares and the broker will do it for you, but they might charge a higher commission.

大部分公司会分割,因为这样会关闭...,比如你想投资谷歌,但是你可以说,我想买十股,或者五股,经纪人会照办,但是会索取更高的佣金

耶鲁公开课 - 金融市场课程节选