• When you serve on a board, you are in a fiduciary role; you are there to protect shareholders and that's the concept.

    一旦你进入了董事会,你就成为了受托人,你的存在就是为了维护股东的利益,就是这样

    耶鲁公开课 - 金融市场课程节选

  • At the annual meeting, the shareholders can come and elect a board and the board then is in charge of the company.

    在年会上,股东会聚集起来,选出董事会来管理公司

    耶鲁公开课 - 金融市场课程节选

  • The theory is that the shareholders are in control because they elect the board and the board hires the president and it's democratic.

    之所以理论上说股东是掌控者,是因为他们选出董事会,董事会选出总裁,这是个民主的过程

    耶鲁公开课 - 金融市场课程节选

  • There's the insurance company, could be a corporation and it could be either a non-profit corporation or a for-profit corporation owned by shareholders.

    一个保险公司,可以是,非盈利性股份公司,也可以是以盈利为目的的股份公司

    耶鲁公开课 - 金融市场课程节选

  • But, in the purest form-- and this is the form that we have in the United States-- the company exists for the shareholders.

    但在最纯粹的体系中,即美国现行体系,公司是为股东而存在的

    耶鲁公开课 - 金融市场课程节选

  • Dilution occurs--the term specifically refers to changes in a number of shares that affect, adversely, existing shareholders.

    摊薄特指的是,股票数量受到影响,不利于已持股的股东

    耶鲁公开课 - 金融市场课程节选

  • In a for-profit corporation, the purpose of the entity is defined as profit for the shareholders.

    在一家盈利性公司中,公司的目的是为股东谋求利益

    耶鲁公开课 - 金融市场课程节选

  • Non-profit corporations will also have a board of directors but they will not have any shareholders.

    非盈利组织也有董事会,但没有股东

    耶鲁公开课 - 金融市场课程节选

  • They have to do it equally to all shareholders; that's called paying a dividend.

    每个股东都应得到同等的待遇,这就是发放股利

    耶鲁公开课 - 金融市场课程节选

  • This is what they actually send out-- this is cash sent out to shareholders.

    这是他们实际发放的,实际发放给股东的现金

    耶鲁公开课 - 金融市场课程节选

  • It should be trying to get money back to the shareholders.

    它应该努力为股东挣钱

    耶鲁公开课 - 金融市场课程节选

  • They found, not surprisingly, that it tends to--mutual funds have been growing more rapidly in countries that have stronger securities laws and institutions, especially laws that protect individual shareholders rights.

    他们发现,那些共同基金发展较迅速的国家,都拥有比较健全的证券法规和完善的证券制度,其中保护个人股东权利的法律尤为完善

    耶鲁公开课 - 金融市场课程节选

  • We're going to send a letter to all our shareholders and say, we have decided to pay a $5 dividend and so you're about to approve this at the meeting.

    我们将给所有的股东寄出一封信,写着,公司决定发放每股5美元的股利,所以你们在股东大会上要通过这个提议

    耶鲁公开课 - 金融市场课程节选

  • Well, the company--the board of directors-- decides if and when to pay dividends to the shareholders and then the law of the state would say that they must treat them all equally.

    公司,董事会,会决定何时向股东支付股利,州法规定,股东利益均等

    耶鲁公开课 - 金融市场课程节选

  • The purpose of the corporation is the shareholders.

    公司就是为股东而服务的

    耶鲁公开课 - 金融市场课程节选

  • You don't want to give your shareholders taxes.

    你不想让股东们缴纳税金

    耶鲁公开课 - 金融市场课程节选

  • When you sign on to a job on the board, you are signing on to a solemn responsibility and that responsibility is to treat all shareholders equally and fairly and make money for them.

    如果你签订协议进入董事会,你就承担起一份庄严的责任,它就是,平等对待所有股东,努力为他们赚钱

    耶鲁公开课 - 金融市场课程节选

  • As you can see, part of the reason why the dividend-earnings ratio-- especially in more recent years, since 1990-- has been declining is that corporations were trying to somewhat ease the tax burden on their shareholders by doing repurchase instead of dividend.

    可以看出,股利收益比降低的部分原因,尤其是在近些年,从1990年起,有所降低的原因是,公司想通过将分红,改为股票回购的方法,多少减轻股东的税负

    耶鲁公开课 - 金融市场课程节选

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