所以，利用财务杠杆筹资就要研究财务杠杆作用的限制条件，如普通股资本净值、借款利率的高低、经营风险的大小、现金收支的状况等。
Therefore, limited conditions of financial lever should be researched carefully, such as common stock net capital, loan interest operating risk and condition of cash flow.
比如微软从不借款，他们不愿负债，所以没有杠杆性。
For example, Microsoft has avoided borrowing any money and they don't believe in debt, so they are not leveraged.
杠杆率掉期能够获得比通常较低的筹资成本，但如果利率升高就会使借款人有复杂风险的互换。
Leveraged SwapA swap that achieves a lower cost of funding than is normally available, but exposes the borrower to compounded risk if interest rates rise.
杠杆率掉期能够获得比通常较低的筹资成本，但如果利率升高就会使借款人有复杂风险的互换。
Leveraged swap a swap that achieves a lower cost of funding than is normally available, but exposes the borrower to compounded risk if interest rates rise.
杠杆率掉期能够获得比通常较低的筹资成本，但如果利率升高就会使借款人有复杂风险的互换。
Leveraged swap a swap that achieves a lower cost of funding than is normally available, but exposes the borrower to compounded risk if interest rates rise.
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