FT商学院

High share prices are becoming a status symbol
高股价正成为新的身份象征

Decline in stock splits suggests dividing share count no longer rules corporate orthodoxy
股票拆分日渐式微,显示分割股本不再是公司界的主流教条。

Warren Buffett has never been afraid to go against the crowd. A drop in the number of companies splitting their stock to reduce their prices suggests bosses are coming around to his long-held view that splits are a meaningless gimmick. Technology and rule changes are helping ditch decades of corporate orthodoxy. Market psychology is being affected too: pricey shares are becoming positively prestigious. 

沃伦•巴菲特(Warren Buffett)一向无惧与市场主流唱反调。如今,选择通过拆股来压低股价的公司减少,表明高管们正逐渐认同他长期坚持的观点——拆股不过是毫无意义的噱头。技术进步和监管规则的变化,正在帮助公司抛弃延续数十年的传统做法。市场心理也随之改变:高价股票反而越来越被视为一种身份象征。

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