Back in the days of the credit bubble, American consumer borrowing helped to create a crazy debt binge.

Baoneng Group faces the forced liquidation of its investment in China Vanke unless it can meet impending margin calls on its borrowing-in a demonstration of the risk of using leverage to build a stake for a hostile bid.

宝能集团（Baoneng Group）对万科（China Vanke）的投资面临被迫变现，除非它能满足迫在眉睫的追加贷款保证金要求。这展示了利用杠杆积累股权、实施敌意收购的风险。

Increasingly, they are turning to margin financing, or borrowing money from brokerage firms to buy stocks& raising the risk of even steeper losses for ordinary investors if the boom goes bust.

他们越来越多地转向融资融券，即从券商那里借钱购买股票。这加剧了一种风险：股市的繁荣消退后，普通股民会蒙受更巨大的损失。

Except that they wanted to exploit the margin between the government-guaranteed borrowing costs and the commercial lending income.

房利美和房地美原本不会成长到今天的规模–可惜它们想赚取政府担保的贷款成本和商业贷款收入之间的差额；

To match Mr. Buffett's long-term return, the researchers found, a portfolio would need to be 60% on margin& borrowing enough so that it owned$ 160 of 'cheap, safe, quality stocks' for every$ 100 of portfolio value.

研究人员发现，要达到巴菲特那样的长期回报，投资组合需要有60%的借入比例，也就是说，借款比例足以让每100美元的投资组合持有160美元便宜、安全、优质的股票。

Now investors are only allowed to trade on margin by borrowing from securities firms.

如今，投资者只允许向证券公司借贷炒股。

This caught out spreadbetters who still held short positions on the UK and US indices, and some of those trading heavily on margin borrowing to increase their exposure saw their funds wiped out.

这导致仍然持有英美指数空头头寸的价差交易者被套牢，而那些主要依靠保证金交易（举债加仓）的部分人眼睁睁看着自己的资金蒸发掉了。

Boom-time is the best time for financial institutions to make provisions, but the incentives are for banks to respond to falling margins of a maturing boom by chasing after the marginal borrower.

繁荣时期是金融机构计提拨备的最佳时机，但对银行来说，其动机是追逐资质较差的贷款者，以应对市场繁荣进入成熟期后利润率的下降。

To fund an additional 15 per cent stake, IWM borrowed funds from the Forbes family, according to the family.

福布斯家族表示，为了融资买下另外15%的股权，本汇鲸从福布斯家族借入资金。

After all, the borrower does benefit from the use of the borrowed funds throughout this entire period.

毕竟，借款者在整个发行期内均通过使用借入资金而受益。

I would also suggest that the huge numbers of Chinese private investors many of whom have borrowed to fund share purchases will carry on liquidating their positions.

我还认为，非常之多的中国私人投资者（很多人用借来的钱去购买股票）将会继续清仓。

Eighty percent of the borrowed characters share the same or similar pronunciations and forms with the standard characters.

其中85%以上的借字除了读音与本字相同相近外，形体上也与本字相近。

EVA is defined as the after-tax profit minus the cost of capital whether it is borrowed or contributed by shareholders.

EVA最为简单的定义是在扣除为产生利润而投资的资本成本后所剩下的收益。

The article summarized and analyzed the former research and model of human capital quantification, borrowed and developed the former experience and then gave a new quantification model.

本文通过对前人关于人力资本量化的研究成果和模型进行总结和分析，借鉴和发展了前人的经验，提出了新的量化模型。

The word "finance" signifies capital in monetary form, that is in the form of funds lent or borrowed, normally for capital purposes, through financial markets or financial institutions.

金融，就是以货币形式表示之资本，换句话说，就是通常为了资本目之通过金融市场或金融机构已借贷资金形式构成之资本。

This in turn led many investors to apply insights borrowed from the Capital Asset Pricing Model, which views returns on a stock as coming from two components: the direction of the market as a whole ( beta), and factors unique to that stock ( alpha).

这进而使得许多投资者用起了资本资产定价模型（Capital Asset Pricing Model）的观点，这种观点认为股票的回报来自两部分：总体市场的方向（贝塔），以及某只股票的特殊因素（阿尔法）。

The financing for the E.U. economic plan is to be borrowed from the capital market over a period of five years until 2026.

欧盟经济计划的资金将从资本市场借款，期限为5年，直至2026年。

There exist differences in accounting practices of borrowed funds for capital projects through the above-mentioned different accounts.

基建投资借款由事业财务会计主体借取和由基建财务会计主体借取，在会计实务的处理上不同。

The paper introduces the possible tax preference policy in waste water treatment, self-provided thermo-electricity, forestry company, instalment construction management, additional investment and borrowed capital and puts forward some tax saving strategies for the enterprises.

针对造纸企业在污水处理、自备热电、林业公司、分期建设经营、追加投资、借入资金这六个方面可能享受的税收优惠政策进行了分析介绍，为企业提出了一些节税策略。

Like many entrepreneurs, Ma's success story started with borrowed capital and a dream.

就很多企业家一样，马云的成功开始于一个风险投资商和一个梦想。

Therefore, the sharing theory of corporeal capital owners, human capital owners and borrowed capital owners should be the sharing theory for the enterprise owners to practice.

因此，由物质资本所有者、人力资本所有者和借入资本所有者共享企业所有权的理论，应该是具有实践可操作性的企业所有者共享理论。