An insurance company has reserves and it has enough reserves to cover them for a certain number of accidents.

保险公司一般都有准备金,准备金的数量一般保持在,刚刚够赔偿一定数量的保单

耶鲁公开课 - 金融市场课程节选

If they're sending out money, the value of the company has to go down by whatever they sent out.

如果他们发放现金的话,公司的价值将降低相同数量,不管是以什么方式

耶鲁公开课 - 金融市场课程节选

So let's look at the demand for Firm 1, which is going to end up being the quantity that they sell.

公司1产品的需求量,即,它所销售的数量

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You'd have four times as many companies but you might not have four times as much valuable innovation.

有的只是四倍数量的公司，但是,你能够有的有价值的创新想法却远远不够。

斯坦福公开课 - 微软CEO-Steve.Ballmer谈科技的未来课程节选

It's changing the number of shares outstanding, so the value of the company declines by the same amount; it has to, as if they had just paid a dividend.

它改变了发行股数,所以公司价值减少了相同的数量,必须如此,就好像支出了股利一样

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Now, the critical thing to understand about a corporation is that in order to value a share in a corporation you absolutely have to know the number of shares outstanding.

理解这类公司的关键在于,要衡量一家公司股票的价值,你必须清楚总共发行的股票数量

耶鲁公开课 - 金融市场课程节选

They must be looking at some measure of the value of the company and dividing by the number of shares and then that gives them some idea of what the share is worth.

他们必然会对公司的价值有一定衡量,用其除以股票数量,然后大致得出每股价值

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That is, share repurchase can change the units of measurement in a security and companies have to decide how leveraged the stock will be, which changes the stock price--leverage, meaning how much debt the company takes on.

即 股票的购回会改变,已发行股票的单位数量,公司需要决定,股票的杠杆效用是多少,杠杆会改变股价,杠杆指的是公司举债的多少

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It doesn't mean anything until you know how many shares are outstanding because if I own one thousand shares and then you look it up and find out how many shares are outstanding-- there are one thousand-- you say, hey I own the whole company.

这毫无意义,除非你知道总共发行的股票数量,如果你有十手股票,但后来发现,总共发行的股票数量,就是一千股,你就可以说,整个公司都是我的

耶鲁公开课 - 金融市场课程节选