So, that's the basic insight in Modigliani and Miller, that share repurchase and dividend are really interchangeable; it's just all a conceptual difference.

这即是莫迪利阿尼和米勒命题的内涵,股票回购和分红彼此是可替代的,只是概念上有所不同

耶鲁公开课 - 金融市场课程节选

Well what I want to do is to share with you the five basic premises.

我想为大家介绍,五个基本前提。

哈佛公开课 - 幸福课课程节选