So, the more enlightened view is, corporations only pay a stock dividend when they have some good news to announce.

所以更有说服力的观点是,公司发放股票股利的唯一原因是,他们有利好消息要公布了

耶鲁公开课 - 金融市场课程节选

The managers of the companies are kind of a group helping each other -let's award options to each other and then after we award them we'll announce the good news and the stock price will go up and you guys will get money.

这些公司的经理在一起,彼此互相帮助,我们互相奖励股票期权给对方吧,在这之后,我们就发布利好消息,然后股价就会上升,这样大家就都能赚到钱了

耶鲁公开课 - 金融市场课程节选