美国私立大学内部的权力体系主要由董事会、校长和教授评议会构成。

The interior power system of private universities in the United States contains: board of directors, president, and faculty senate.

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董事会的一部分成员由公司的高层管理人员构成，而另外一些则是不受雇于该公司的非执行董事。

Some of these directors may be drawn from top management, but othersare non-executive directors, who are not employed by the firm.

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富士通还同少数几家日本公司一样，摒弃了错综复杂的由内部人构成的董事会机制，而选择规模适中的董事会。该董事会由九名董事组成，其中3位为中立派。

Fujitsu is also among the few Japanese firms that has done away with a sprawling board of company insiders in favour of a modest nine directors, three of them independent.

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I think the simplest way to understand Modigliani-Miller proposition is the following: imagine that we, as a board, decided to pay a dividend of $5 a share.

理解莫迪利阿尼和米勒命题,最简单的方式是,假设我们构成了一个董事会,决定以每股5美元的比例发放股利

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