But as you know already, from what you've read, this has come into great dispute in recent years and I'll just say a little bit about the dispute before we get through today.

不过就像你们在课后阅读中读到的那样,他的说法近年来遭到了越来越多的质疑,我们在继续今天的讲解之前,我会先讲讲人们对于他理论的质疑

耶鲁公开课 - 古希腊历史简介课程节选

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