id	sid	tid	token	lemma	pos
aijbms-113	1	1	american	american	PROPN
aijbms-113	1	2	international	international	PROPN
aijbms-113	1	3	journal	journal	PROPN
aijbms-113	1	4	of	of	ADP
aijbms-113	1	5	business	business	NOUN
aijbms-113	1	6	and	and	CCONJ
aijbms-113	1	7	management	management	NOUN
aijbms-113	1	8	studies	study	NOUN
aijbms-113	1	9	vol	vol	NOUN
aijbms-113	1	10	.	.	PROPN
aijbms-113	2	1	1	1	NUM
aijbms-113	2	2	,	,	PUNCT
aijbms-113	2	3	no	no	INTJ
aijbms-113	2	4	.	.	NOUN
aijbms-113	2	5	1	1	NUM
aijbms-113	2	6	;	;	PUNCT
aijbms-113	2	7	2019	2019	NUM
aijbms-113	2	8	published	publish	VERB
aijbms-113	2	9	by	by	ADP
aijbms-113	2	10	american	american	ADJ
aijbms-113	2	11	center	center	PROPN
aijbms-113	2	12	of	of	ADP
aijbms-113	2	13	science	science	NOUN
aijbms-113	2	14	and	and	CCONJ
aijbms-113	2	15	education	education	NOUN
aijbms-113	2	16	,	,	PUNCT
aijbms-113	2	17	usa	usa	PROPN
aijbms-113	2	18	48	48	NUM
aijbms-113	2	19	debt	debt	NOUN
aijbms-113	2	20	financing	financing	NOUN
aijbms-113	2	21	and	and	CCONJ
aijbms-113	2	22	corporate	corporate	ADJ
aijbms-113	2	23	finance	finance	NOUN
aijbms-113	2	24	performance	performance	NOUN
aijbms-113	2	25	:	:	PUNCT
aijbms-113	2	26	a	a	DET
aijbms-113	2	27	dynamic	dynamic	ADJ
aijbms-113	2	28	investigation	investigation	NOUN
aijbms-113	2	29	from	from	ADP
aijbms-113	2	30	nigeria	nigeria	PROPN
aijbms-113	2	31	quoted	quote	VERB
aijbms-113	2	32	firms	firm	NOUN
aijbms-113	2	33	uzokwe	uzokwe	VERB
aijbms-113	2	34	grace	grace	NOUN
aijbms-113	2	35	onyinyechi	onyinyechi	PROPN
aijbms-113	2	36	department	department	PROPN
aijbms-113	2	37	of	of	ADP
aijbms-113	2	38	banking	banking	NOUN
aijbms-113	2	39	and	and	CCONJ
aijbms-113	2	40	finance	finance	NOUN
aijbms-113	2	41	,	,	PUNCT
aijbms-113	2	42	rivers	river	NOUN
aijbms-113	2	43	state	state	PROPN
aijbms-113	2	44	university	university	PROPN
aijbms-113	2	45	,	,	PUNCT
aijbms-113	2	46	port	port	NOUN
aijbms-113	2	47	harcourt	harcourt	PROPN
aijbms-113	2	48	nigeria	nigeria	PROPN
aijbms-113	3	1	abstract	abstract	ADV
aijbms-113	3	2	there	there	PRON
aijbms-113	3	3	are	be	VERB
aijbms-113	3	4	two	two	NUM
aijbms-113	3	5	components	component	NOUN
aijbms-113	3	6	of	of	ADP
aijbms-113	3	7	corporate	corporate	ADJ
aijbms-113	3	8	capital	capital	NOUN
aijbms-113	3	9	.	.	PUNCT
aijbms-113	4	1	this	this	DET
aijbms-113	4	2	paper	paper	NOUN
aijbms-113	4	3	examined	examine	VERB
aijbms-113	4	4	the	the	DET
aijbms-113	4	5	effect	effect	NOUN
aijbms-113	4	6	of	of	ADP
aijbms-113	4	7	debt	debt	NOUN
aijbms-113	4	8	financing	financing	NOUN
aijbms-113	4	9	on	on	ADP
aijbms-113	4	10	the	the	DET
aijbms-113	4	11	financial	financial	ADJ
aijbms-113	4	12	performance	performance	NOUN
aijbms-113	4	13	of	of	ADP
aijbms-113	4	14	quoted	quote	VERB
aijbms-113	4	15	firms	firm	NOUN
aijbms-113	4	16	in	in	ADP
aijbms-113	4	17	nigeria	nigeria	PROPN
aijbms-113	4	18	stock	stock	PROPN
aijbms-113	4	19	exchange	exchange	PROPN
aijbms-113	4	20	using	use	VERB
aijbms-113	4	21	time	time	NOUN
aijbms-113	4	22	series	series	PROPN
aijbms-113	4	23	data	datum	NOUN
aijbms-113	4	24	from	from	ADP
aijbms-113	4	25	2000	2000	NUM
aijbms-113	4	26	-	-	SYM
aijbms-113	4	27	2017	2017	NUM
aijbms-113	4	28	.	.	PUNCT
aijbms-113	5	1	the	the	DET
aijbms-113	5	2	objective	objective	NOUN
aijbms-113	5	3	was	be	AUX
aijbms-113	5	4	to	to	PART
aijbms-113	5	5	examine	examine	VERB
aijbms-113	5	6	the	the	DET
aijbms-113	5	7	controversial	controversial	ADJ
aijbms-113	5	8	findings	finding	NOUN
aijbms-113	5	9	of	of	ADP
aijbms-113	5	10	scholars	scholar	NOUN
aijbms-113	5	11	on	on	ADP
aijbms-113	5	12	the	the	DET
aijbms-113	5	13	effect	effect	NOUN
aijbms-113	5	14	of	of	ADP
aijbms-113	5	15	capital	capital	NOUN
aijbms-113	5	16	structure	structure	NOUN
aijbms-113	5	17	on	on	ADP
aijbms-113	5	18	corporate	corporate	ADJ
aijbms-113	5	19	performance	performance	NOUN
aijbms-113	5	20	of	of	ADP
aijbms-113	5	21	firms	firm	NOUN
aijbms-113	5	22	.	.	PUNCT
aijbms-113	6	1	return	return	VERB
aijbms-113	6	2	on	on	ADP
aijbms-113	6	3	assets	asset	NOUN
aijbms-113	6	4	and	and	CCONJ
aijbms-113	6	5	return	return	VERB
aijbms-113	6	6	on	on	ADP
aijbms-113	6	7	equity	equity	NOUN
aijbms-113	6	8	was	be	AUX
aijbms-113	6	9	modeled	model	VERB
aijbms-113	6	10	as	as	ADP
aijbms-113	6	11	the	the	DET
aijbms-113	6	12	function	function	NOUN
aijbms-113	6	13	of	of	ADP
aijbms-113	6	14	debt	debt	NOUN
aijbms-113	6	15	equity	equity	NOUN
aijbms-113	6	16	ratio	ratio	NOUN
aijbms-113	6	17	,	,	PUNCT
aijbms-113	6	18	debt	debt	NOUN
aijbms-113	6	19	ratio	ratio	NOUN
aijbms-113	6	20	,	,	PUNCT
aijbms-113	6	21	equity	equity	NOUN
aijbms-113	6	22	ratio	ratio	NOUN
aijbms-113	6	23	,	,	PUNCT
aijbms-113	6	24	total	total	ADJ
aijbms-113	6	25	liability	liability	NOUN
aijbms-113	6	26	ratio	ratio	NOUN
aijbms-113	6	27	and	and	CCONJ
aijbms-113	6	28	long	long	ADJ
aijbms-113	6	29	term	term	NOUN
aijbms-113	6	30	debt	debt	NOUN
aijbms-113	6	31	ratio	ratio	NOUN
aijbms-113	6	32	.	.	PUNCT
aijbms-113	7	1	multiple	multiple	ADJ
aijbms-113	7	2	regressions	regression	NOUN
aijbms-113	7	3	with	with	ADP
aijbms-113	7	4	the	the	DET
aijbms-113	7	5	aid	aid	NOUN
aijbms-113	7	6	of	of	ADP
aijbms-113	7	7	statistical	statistical	ADJ
aijbms-113	7	8	package	package	NOUN
aijbms-113	7	9	for	for	ADP
aijbms-113	7	10	social	social	ADJ
aijbms-113	7	11	sciences	science	NOUN
aijbms-113	7	12	were	be	AUX
aijbms-113	7	13	used	use	VERB
aijbms-113	7	14	as	as	ADP
aijbms-113	7	15	data	datum	NOUN
aijbms-113	7	16	analysis	analysis	NOUN
aijbms-113	7	17	techniques	technique	NOUN
aijbms-113	7	18	.	.	PUNCT
aijbms-113	8	1	model	model	NOUN
aijbms-113	8	2	one	one	NUM
aijbms-113	8	3	found	find	VERB
aijbms-113	8	4	that	that	SCONJ
aijbms-113	8	5	a	a	DET
aijbms-113	8	6	correlation	correlation	NOUN
aijbms-113	8	7	coefficient	coefficient	NOUN
aijbms-113	8	8	(	(	PUNCT
aijbms-113	8	9	r	r	NOUN
aijbms-113	8	10	)	)	PUNCT
aijbms-113	8	11	of	of	ADP
aijbms-113	8	12	.872	.872	NOUN
aijbms-113	8	13	this	this	PRON
aijbms-113	8	14	implies	imply	VERB
aijbms-113	8	15	that	that	SCONJ
aijbms-113	8	16	a	a	DET
aijbms-113	8	17	very	very	ADV
aijbms-113	8	18	strong	strong	ADJ
aijbms-113	8	19	correlation	correlation	NOUN
aijbms-113	8	20	exists	exist	VERB
aijbms-113	8	21	between	between	ADP
aijbms-113	8	22	return	return	NOUN
aijbms-113	8	23	on	on	ADP
aijbms-113	8	24	assets	asset	NOUN
aijbms-113	8	25	and	and	CCONJ
aijbms-113	8	26	explanatory	explanatory	ADJ
aijbms-113	8	27	variables	variable	NOUN
aijbms-113	8	28	.	.	PUNCT
aijbms-113	9	1	the	the	DET
aijbms-113	9	2	coefficient	coefficient	NOUN
aijbms-113	9	3	of	of	ADP
aijbms-113	9	4	determination	determination	NOUN
aijbms-113	9	5	(	(	PUNCT
aijbms-113	9	6	r²	r²	PROPN
aijbms-113	9	7	)	)	PUNCT
aijbms-113	9	8	is	be	AUX
aijbms-113	9	9	.678	.678	NUM
aijbms-113	9	10	which	which	PRON
aijbms-113	9	11	shows	show	VERB
aijbms-113	9	12	that	that	SCONJ
aijbms-113	9	13	67.8	67.8	NUM
aijbms-113	9	14	%	%	NOUN
aijbms-113	9	15	of	of	ADP
aijbms-113	9	16	the	the	DET
aijbms-113	9	17	variation	variation	NOUN
aijbms-113	9	18	in	in	ADP
aijbms-113	9	19	return	return	NOUN
aijbms-113	9	20	on	on	ADP
aijbms-113	9	21	assets	asset	NOUN
aijbms-113	9	22	is	be	AUX
aijbms-113	9	23	attributable	attributable	ADJ
aijbms-113	9	24	to	to	ADP
aijbms-113	9	25	the	the	DET
aijbms-113	9	26	variations	variation	NOUN
aijbms-113	9	27	in	in	ADP
aijbms-113	9	28	the	the	DET
aijbms-113	9	29	financial	financial	ADJ
aijbms-113	9	30	leverage	leverage	NOUN
aijbms-113	9	31	.	.	PUNCT
aijbms-113	10	1	also	also	ADV
aijbms-113	10	2	,	,	PUNCT
aijbms-113	10	3	the	the	DET
aijbms-113	10	4	fvalue	fvalue	NOUN
aijbms-113	10	5	calculated	calculate	VERB
aijbms-113	10	6	of	of	ADP
aijbms-113	10	7	8.338	8.338	NUM
aijbms-113	10	8	has	have	VERB
aijbms-113	10	9	a	a	DET
aijbms-113	10	10	correlation	correlation	NOUN
aijbms-113	10	11	corresponding	correspond	VERB
aijbms-113	10	12	value	value	NOUN
aijbms-113	10	13	of	of	ADP
aijbms-113	10	14	.004	.004	NUM
aijbms-113	10	15	which	which	PRON
aijbms-113	10	16	implies	imply	VERB
aijbms-113	10	17	a	a	DET
aijbms-113	10	18	good	good	ADJ
aijbms-113	10	19	model	model	NOUN
aijbms-113	10	20	utility	utility	NOUN
aijbms-113	10	21	.	.	PUNCT
aijbms-113	11	1	the	the	DET
aijbms-113	11	2	test	test	NOUN
aijbms-113	11	3	of	of	ADP
aijbms-113	11	4	significance	significance	NOUN
aijbms-113	11	5	conducted	conduct	VERB
aijbms-113	11	6	as	as	SCONJ
aijbms-113	11	7	shown	show	VERB
aijbms-113	11	8	in	in	ADP
aijbms-113	11	9	the	the	DET
aijbms-113	11	10	tables	table	NOUN
aijbms-113	11	11	above	above	ADP
aijbms-113	11	12	states	state	NOUN
aijbms-113	11	13	that	that	SCONJ
aijbms-113	11	14	roa	roa	PROPN
aijbms-113	11	15	has	have	VERB
aijbms-113	11	16	a	a	DET
aijbms-113	11	17	calculated	calculate	VERB
aijbms-113	11	18	value	value	NOUN
aijbms-113	11	19	of	of	ADP
aijbms-113	11	20	242.032	242.032	NUM
aijbms-113	11	21	and	and	CCONJ
aijbms-113	11	22	a	a	DET
aijbms-113	11	23	corresponding	corresponding	ADJ
aijbms-113	11	24	significance	significance	NOUN
aijbms-113	11	25	value	value	NOUN
aijbms-113	11	26	/	/	SYM
aijbms-113	11	27	probability	probability	NOUN
aijbms-113	11	28	value	value	NOUN
aijbms-113	11	29	of	of	ADP
aijbms-113	11	30	.014	.014	NUM
aijbms-113	11	31	.	.	PUNCT
aijbms-113	12	1	the	the	DET
aijbms-113	12	2	positive	positive	ADJ
aijbms-113	12	3	sign	sign	NOUN
aijbms-113	12	4	of	of	ADP
aijbms-113	12	5	t	t	NOUN
aijbms-113	12	6	-	-	PUNCT
aijbms-113	12	7	value	value	NOUN
aijbms-113	12	8	(	(	PUNCT
aijbms-113	12	9	1.653	1.653	NUM
aijbms-113	12	10	)	)	PUNCT
aijbms-113	12	11	shows	show	VERB
aijbms-113	12	12	the	the	DET
aijbms-113	12	13	direction	direction	NOUN
aijbms-113	12	14	of	of	ADP
aijbms-113	12	15	the	the	DET
aijbms-113	12	16	variables	variable	NOUN
aijbms-113	12	17	.	.	PUNCT
aijbms-113	13	1	this	this	PRON
aijbms-113	13	2	therefore	therefore	ADV
aijbms-113	13	3	implies	imply	VERB
aijbms-113	13	4	that	that	SCONJ
aijbms-113	13	5	when	when	SCONJ
aijbms-113	13	6	a	a	DET
aijbms-113	13	7	financial	financial	ADJ
aijbms-113	13	8	leverage	leverage	NOUN
aijbms-113	13	9	is	be	AUX
aijbms-113	13	10	well	well	ADV
aijbms-113	13	11	used	use	VERB
aijbms-113	13	12	,	,	PUNCT
aijbms-113	13	13	this	this	PRON
aijbms-113	13	14	leads	lead	VERB
aijbms-113	13	15	to	to	ADP
aijbms-113	13	16	a	a	DET
aijbms-113	13	17	better	well	ADJ
aijbms-113	13	18	,	,	PUNCT
aijbms-113	13	19	reliable	reliable	ADJ
aijbms-113	13	20	and	and	CCONJ
aijbms-113	13	21	fairer	fair	ADJ
aijbms-113	13	22	financial	financial	ADJ
aijbms-113	13	23	result	result	NOUN
aijbms-113	13	24	that	that	PRON
aijbms-113	13	25	is	be	AUX
aijbms-113	13	26	objective	objective	ADJ
aijbms-113	13	27	and	and	CCONJ
aijbms-113	13	28	represent	represent	VERB
aijbms-113	13	29	the	the	DET
aijbms-113	13	30	true	true	ADJ
aijbms-113	13	31	state	state	NOUN
aijbms-113	13	32	of	of	ADP
aijbms-113	13	33	affairs	affair	NOUN
aijbms-113	13	34	in	in	ADP
aijbms-113	13	35	the	the	DET
aijbms-113	13	36	food	food	NOUN
aijbms-113	13	37	and	and	CCONJ
aijbms-113	13	38	beverage	beverage	NOUN
aijbms-113	13	39	companies	company	NOUN
aijbms-113	13	40	proportionately	proportionately	ADV
aijbms-113	13	41	.	.	PUNCT
aijbms-113	14	1	model	model	PROPN
aijbms-113	14	2	two	two	NUM
aijbms-113	14	3	found	find	VERB
aijbms-113	14	4	that	that	SCONJ
aijbms-113	14	5	a	a	DET
aijbms-113	14	6	correlation	correlation	NOUN
aijbms-113	14	7	coefficient	coefficient	NOUN
aijbms-113	14	8	(	(	PUNCT
aijbms-113	14	9	r	r	NOUN
aijbms-113	14	10	)	)	PUNCT
aijbms-113	14	11	of	of	ADP
aijbms-113	14	12	.772	.772	NUM
aijbms-113	14	13	this	this	PRON
aijbms-113	14	14	implies	imply	VERB
aijbms-113	14	15	that	that	SCONJ
aijbms-113	14	16	a	a	DET
aijbms-113	14	17	very	very	ADV
aijbms-113	14	18	strong	strong	ADJ
aijbms-113	14	19	correlation	correlation	NOUN
aijbms-113	14	20	exists	exist	VERB
aijbms-113	14	21	between	between	ADP
aijbms-113	14	22	return	return	NOUN
aijbms-113	14	23	on	on	ADP
aijbms-113	14	24	assets	asset	NOUN
aijbms-113	14	25	and	and	CCONJ
aijbms-113	14	26	explanatory	explanatory	ADJ
aijbms-113	14	27	variables	variable	NOUN
aijbms-113	14	28	.	.	PUNCT
aijbms-113	15	1	the	the	DET
aijbms-113	15	2	coefficient	coefficient	NOUN
aijbms-113	15	3	of	of	ADP
aijbms-113	15	4	determination	determination	NOUN
aijbms-113	15	5	(	(	PUNCT
aijbms-113	15	6	r²	r²	PROPN
aijbms-113	15	7	)	)	PUNCT
aijbms-113	15	8	is	be	AUX
aijbms-113	15	9	.639	.639	NUM
aijbms-113	15	10	which	which	PRON
aijbms-113	15	11	shows	show	VERB
aijbms-113	15	12	that	that	SCONJ
aijbms-113	15	13	63.9	63.9	NUM
aijbms-113	15	14	%	%	NOUN
aijbms-113	15	15	of	of	ADP
aijbms-113	15	16	the	the	DET
aijbms-113	15	17	variation	variation	NOUN
aijbms-113	15	18	in	in	ADP
aijbms-113	15	19	return	return	NOUN
aijbms-113	15	20	on	on	ADP
aijbms-113	15	21	equity	equity	NOUN
aijbms-113	15	22	is	be	AUX
aijbms-113	15	23	attributable	attributable	ADJ
aijbms-113	15	24	to	to	ADP
aijbms-113	15	25	the	the	DET
aijbms-113	15	26	variations	variation	NOUN
aijbms-113	15	27	in	in	ADP
aijbms-113	15	28	the	the	DET
aijbms-113	15	29	financial	financial	ADJ
aijbms-113	15	30	leverage	leverage	NOUN
aijbms-113	15	31	.	.	PUNCT
aijbms-113	16	1	also	also	ADV
aijbms-113	16	2	,	,	PUNCT
aijbms-113	16	3	the	the	DET
aijbms-113	16	4	fvalue	fvalue	NOUN
aijbms-113	16	5	calculated	calculate	VERB
aijbms-113	16	6	of	of	ADP
aijbms-113	16	7	7.644	7.644	NUM
aijbms-113	16	8	has	have	VERB
aijbms-113	16	9	a	a	DET
aijbms-113	16	10	correlation	correlation	NOUN
aijbms-113	16	11	corresponding	correspond	VERB
aijbms-113	16	12	value	value	NOUN
aijbms-113	16	13	of	of	ADP
aijbms-113	16	14	.004	.004	NUM
aijbms-113	16	15	which	which	PRON
aijbms-113	16	16	implies	imply	VERB
aijbms-113	16	17	a	a	DET
aijbms-113	16	18	good	good	ADJ
aijbms-113	16	19	model	model	NOUN
aijbms-113	16	20	utility	utility	NOUN
aijbms-113	16	21	.	.	PUNCT
aijbms-113	17	1	the	the	DET
aijbms-113	17	2	test	test	NOUN
aijbms-113	17	3	of	of	ADP
aijbms-113	17	4	significance	significance	NOUN
aijbms-113	17	5	conducted	conduct	VERB
aijbms-113	17	6	as	as	SCONJ
aijbms-113	17	7	shown	show	VERB
aijbms-113	17	8	in	in	ADP
aijbms-113	17	9	the	the	DET
aijbms-113	17	10	tables	table	NOUN
aijbms-113	17	11	above	above	ADP
aijbms-113	17	12	states	state	NOUN
aijbms-113	17	13	that	that	SCONJ
aijbms-113	17	14	roe	roe	PROPN
aijbms-113	17	15	has	have	VERB
aijbms-113	17	16	a	a	DET
aijbms-113	17	17	calculated	calculate	VERB
aijbms-113	17	18	value	value	NOUN
aijbms-113	17	19	of	of	ADP
aijbms-113	17	20	568.906	568.906	NUM
aijbms-113	17	21	and	and	CCONJ
aijbms-113	17	22	a	a	DET
aijbms-113	17	23	corresponding	corresponding	ADJ
aijbms-113	17	24	significance	significance	NOUN
aijbms-113	17	25	value	value	NOUN
aijbms-113	17	26	/	/	SYM
aijbms-113	17	27	probability	probability	NOUN
aijbms-113	17	28	value	value	NOUN
aijbms-113	17	29	of	of	ADP
aijbms-113	17	30	.003	.003	NUM
aijbms-113	17	31	.	.	PUNCT
aijbms-113	18	1	the	the	DET
aijbms-113	18	2	positive	positive	ADJ
aijbms-113	18	3	sign	sign	NOUN
aijbms-113	18	4	of	of	ADP
aijbms-113	18	5	t	t	NOUN
aijbms-113	18	6	-	-	PUNCT
aijbms-113	18	7	value	value	NOUN
aijbms-113	18	8	(	(	PUNCT
aijbms-113	18	9	3.310	3.310	NUM
aijbms-113	18	10	)	)	PUNCT
aijbms-113	18	11	shows	show	VERB
aijbms-113	18	12	the	the	DET
aijbms-113	18	13	direction	direction	NOUN
aijbms-113	18	14	of	of	ADP
aijbms-113	18	15	the	the	DET
aijbms-113	18	16	variables	variable	NOUN
aijbms-113	18	17	.	.	PUNCT
aijbms-113	19	1	this	this	PRON
aijbms-113	19	2	therefore	therefore	ADV
aijbms-113	19	3	implies	imply	VERB
aijbms-113	19	4	that	that	SCONJ
aijbms-113	19	5	when	when	SCONJ
aijbms-113	19	6	a	a	DET
aijbms-113	19	7	financial	financial	ADJ
aijbms-113	19	8	leverage	leverage	NOUN
aijbms-113	19	9	is	be	AUX
aijbms-113	19	10	well	well	ADV
aijbms-113	19	11	used	use	VERB
aijbms-113	19	12	,	,	PUNCT
aijbms-113	19	13	this	this	PRON
aijbms-113	19	14	leads	lead	VERB
aijbms-113	19	15	to	to	ADP
aijbms-113	19	16	a	a	DET
aijbms-113	19	17	better	well	ADJ
aijbms-113	19	18	,	,	PUNCT
aijbms-113	19	19	reliable	reliable	ADJ
aijbms-113	19	20	and	and	CCONJ
aijbms-113	19	21	fairer	fair	ADJ
aijbms-113	19	22	financial	financial	ADJ
aijbms-113	19	23	result	result	NOUN
aijbms-113	19	24	that	that	PRON
aijbms-113	19	25	is	be	AUX
aijbms-113	19	26	objective	objective	ADJ
aijbms-113	19	27	and	and	CCONJ
aijbms-113	19	28	represent	represent	VERB
aijbms-113	19	29	the	the	DET
aijbms-113	19	30	true	true	ADJ
aijbms-113	19	31	state	state	NOUN
aijbms-113	19	32	of	of	ADP
aijbms-113	19	33	affairs	affair	NOUN
aijbms-113	19	34	in	in	ADP
aijbms-113	19	35	the	the	DET
aijbms-113	19	36	food	food	NOUN
aijbms-113	19	37	and	and	CCONJ
aijbms-113	19	38	beverage	beverage	NOUN
aijbms-113	19	39	companies	company	NOUN
aijbms-113	19	40	proportionately	proportionately	ADV
aijbms-113	19	41	.	.	PUNCT
aijbms-113	20	1	we	we	PRON
aijbms-113	20	2	recommend	recommend	VERB
aijbms-113	20	3	that	that	SCONJ
aijbms-113	20	4	management	management	NOUN
aijbms-113	20	5	of	of	ADP
aijbms-113	20	6	the	the	DET
aijbms-113	20	7	firms	firm	NOUN
aijbms-113	20	8	should	should	AUX
aijbms-113	20	9	work	work	VERB
aijbms-113	20	10	very	very	ADV
aijbms-113	20	11	hard	hard	ADV
aijbms-113	20	12	to	to	PART
aijbms-113	20	13	optimize	optimize	VERB
aijbms-113	20	14	the	the	DET
aijbms-113	20	15	capital	capital	NOUN
aijbms-113	20	16	structure	structure	NOUN
aijbms-113	20	17	in	in	ADP
aijbms-113	20	18	order	order	NOUN
aijbms-113	20	19	to	to	PART
aijbms-113	20	20	increase	increase	VERB
aijbms-113	20	21	the	the	DET
aijbms-113	20	22	returns	return	NOUN
aijbms-113	20	23	on	on	ADP
aijbms-113	20	24	equity	equity	NOUN
aijbms-113	20	25	and	and	CCONJ
aijbms-113	20	26	assets	asset	NOUN
aijbms-113	20	27	and	and	CCONJ
aijbms-113	20	28	that	that	PRON
aijbms-113	20	29	management	management	NOUN
aijbms-113	20	30	of	of	ADP
aijbms-113	20	31	nigerian	nigerian	ADJ
aijbms-113	20	32	firms	firm	NOUN
aijbms-113	20	33	should	should	AUX
aijbms-113	20	34	increase	increase	VERB
aijbms-113	20	35	their	their	PRON
aijbms-113	20	36	commitments	commitment	NOUN
aijbms-113	20	37	into	into	ADP
aijbms-113	20	38	capital	capital	NOUN
aijbms-113	20	39	structure	structure	NOUN
aijbms-113	20	40	in	in	ADP
aijbms-113	20	41	order	order	NOUN
aijbms-113	20	42	to	to	PART
aijbms-113	20	43	improve	improve	VERB
aijbms-113	20	44	earnings	earning	NOUN
aijbms-113	20	45	from	from	ADP
aijbms-113	20	46	their	their	PRON
aijbms-113	20	47	business	business	NOUN
aijbms-113	20	48	transaction	transaction	NOUN
aijbms-113	20	49	.	.	PUNCT
aijbms-113	21	1	keywords	keyword	NOUN
aijbms-113	21	2	:	:	PUNCT
aijbms-113	21	3	debt	debt	NOUN
aijbms-113	21	4	financing	financing	NOUN
aijbms-113	21	5	,	,	PUNCT
aijbms-113	21	6	corporate	corporate	ADJ
aijbms-113	21	7	finance	finance	NOUN
aijbms-113	21	8	performance	performance	NOUN
aijbms-113	21	9	,	,	PUNCT
aijbms-113	21	10	financial	financial	ADJ
aijbms-113	21	11	leverage	leverage	NOUN
aijbms-113	21	12	,	,	PUNCT
aijbms-113	21	13	return	return	VERB
aijbms-113	21	14	on	on	ADP
aijbms-113	21	15	assets	asset	NOUN
aijbms-113	21	16	,	,	PUNCT
aijbms-113	21	17	return	return	VERB
aijbms-113	21	18	on	on	ADP
aijbms-113	21	19	equity	equity	NOUN
aijbms-113	21	20	,	,	PUNCT
aijbms-113	21	21	nigeria	nigeria	PROPN
aijbms-113	21	22	quoted	quote	VERB
aijbms-113	21	23	firms	firm	NOUN
aijbms-113	21	24	.	.	PUNCT
aijbms-113	22	1	introduction	introduction	NOUN
aijbms-113	22	2	every	every	DET
aijbms-113	22	3	corporate	corporate	ADJ
aijbms-113	22	4	organization	organization	NOUN
aijbms-113	22	5	exists	exist	VERB
aijbms-113	22	6	to	to	PART
aijbms-113	22	7	maximize	maximize	VERB
aijbms-113	22	8	shareholders	shareholder	NOUN
aijbms-113	22	9	wealth	wealth	NOUN
aijbms-113	22	10	.	.	PUNCT
aijbms-113	23	1	this	this	DET
aijbms-113	23	2	operational	operational	ADJ
aijbms-113	23	3	philosophy	philosophy	NOUN
aijbms-113	23	4	depended	depend	VERB
aijbms-113	23	5	on	on	ADP
aijbms-113	23	6	internal	internal	ADJ
aijbms-113	23	7	factors	factor	NOUN
aijbms-113	23	8	of	of	ADP
aijbms-113	23	9	the	the	DET
aijbms-113	23	10	firms	firm	NOUN
aijbms-113	23	11	such	such	ADJ
aijbms-113	23	12	as	as	ADP
aijbms-113	23	13	financing	financing	NOUN
aijbms-113	23	14	decision	decision	NOUN
aijbms-113	23	15	and	and	CCONJ
aijbms-113	23	16	external	external	ADJ
aijbms-113	23	17	factors	factor	NOUN
aijbms-113	23	18	such	such	ADJ
aijbms-113	23	19	as	as	ADP
aijbms-113	23	20	monetary	monetary	ADJ
aijbms-113	23	21	and	and	CCONJ
aijbms-113	23	22	macroeconomic	macroeconomic	ADJ
aijbms-113	23	23	variables	variable	NOUN
aijbms-113	23	24	.	.	PUNCT
aijbms-113	24	1	financial	financial	ADJ
aijbms-113	24	2	leverage	leverage	NOUN
aijbms-113	24	3	is	be	AUX
aijbms-113	24	4	traditionally	traditionally	ADV
aijbms-113	24	5	viewed	view	VERB
aijbms-113	24	6	as	as	ADP
aijbms-113	24	7	the	the	DET
aijbms-113	24	8	use	use	NOUN
aijbms-113	24	9	debt	debt	NOUN
aijbms-113	24	10	component	component	NOUN
aijbms-113	24	11	capital	capital	NOUN
aijbms-113	24	12	structure	structure	NOUN
aijbms-113	24	13	,	,	PUNCT
aijbms-113	24	14	through	through	ADP
aijbms-113	24	15	the	the	DET
aijbms-113	24	16	use	use	NOUN
aijbms-113	24	17	of	of	ADP
aijbms-113	24	18	fixed	fix	VERB
aijbms-113	24	19	income	income	NOUN
aijbms-113	24	20	securities	security	NOUN
aijbms-113	24	21	,	,	PUNCT
aijbms-113	24	22	such	such	ADJ
aijbms-113	24	23	as	as	ADP
aijbms-113	24	24	loans	loan	NOUN
aijbms-113	24	25	and	and	CCONJ
aijbms-113	24	26	bonds	bond	NOUN
aijbms-113	24	27	.	.	PUNCT
aijbms-113	25	1	it	it	PRON
aijbms-113	25	2	has	have	VERB
aijbms-113	25	3	a	a	DET
aijbms-113	25	4	significant	significant	ADJ
aijbms-113	25	5	influence	influence	NOUN
aijbms-113	25	6	on	on	ADP
aijbms-113	25	7	the	the	DET
aijbms-113	25	8	company	company	NOUN
aijbms-113	25	9	’s	’s	PART
aijbms-113	25	10	ability	ability	NOUN
aijbms-113	25	11	to	to	PART
aijbms-113	25	12	achieve	achieve	VERB
aijbms-113	25	13	its	its	PRON
aijbms-113	25	14	ultimate	ultimate	ADJ
aijbms-113	25	15	goal	goal	NOUN
aijbms-113	25	16	,	,	PUNCT
aijbms-113	25	17	such	such	ADJ
aijbms-113	25	18	as	as	ADP
aijbms-113	25	19	maximizing	maximize	VERB
aijbms-113	25	20	the	the	DET
aijbms-113	25	21	shareholders	shareholder	NOUN
aijbms-113	25	22	wealth	wealth	NOUN
aijbms-113	25	23	(	(	PUNCT
aijbms-113	25	24	taani	taani	ADJ
aijbms-113	25	25	,	,	PUNCT
aijbms-113	25	26	2012	2012	NUM
aijbms-113	25	27	)	)	PUNCT
aijbms-113	25	28	.	.	PUNCT
aijbms-113	26	1	generally	generally	ADV
aijbms-113	26	2	,	,	PUNCT
aijbms-113	26	3	increased	increase	VERB
aijbms-113	26	4	in	in	ADP
aijbms-113	26	5	leverage	leverage	NOUN
aijbms-113	26	6	results	result	NOUN
aijbms-113	26	7	increase	increase	VERB
aijbms-113	26	8	in	in	ADP
aijbms-113	26	9	return	return	NOUN
aijbms-113	26	10	and	and	CCONJ
aijbms-113	26	11	risk	risk	NOUN
aijbms-113	26	12	(	(	PUNCT
aijbms-113	26	13	tally	tally	NOUN
aijbms-113	26	14	,	,	PUNCT
aijbms-113	26	15	2014	2014	NUM
aijbms-113	26	16	)	)	PUNCT
aijbms-113	26	17	.	.	PUNCT
aijbms-113	27	1	however	however	ADV
aijbms-113	27	2	,	,	PUNCT
aijbms-113	27	3	the	the	DET
aijbms-113	27	4	use	use	NOUN
aijbms-113	27	5	of	of	ADP
aijbms-113	27	6	leverage	leverage	NOUN
aijbms-113	27	7	is	be	AUX
aijbms-113	27	8	associated	associate	VERB
aijbms-113	27	9	with	with	ADP
aijbms-113	27	10	two	two	NUM
aijbms-113	27	11	different	different	ADJ
aijbms-113	27	12	possible	possible	ADJ
aijbms-113	27	13	outcomes	outcome	NOUN
aijbms-113	27	14	either	either	CCONJ
aijbms-113	27	15	positive	positive	ADJ
aijbms-113	27	16	such	such	ADJ
aijbms-113	27	17	as	as	ADP
aijbms-113	27	18	maximizing	maximize	VERB
aijbms-113	27	19	the	the	DET
aijbms-113	27	20	profit	profit	NOUN
aijbms-113	27	21	or	or	CCONJ
aijbms-113	27	22	negative	negative	ADJ
aijbms-113	27	23	such	such	ADJ
aijbms-113	27	24	as	as	ADP
aijbms-113	27	25	minimizing	minimize	VERB
aijbms-113	27	26	the	the	DET
aijbms-113	27	27	profits	profit	NOUN
aijbms-113	27	28	.	.	PUNCT
aijbms-113	28	1	financing	financing	NOUN
aijbms-113	28	2	leverage	leverage	NOUN
aijbms-113	28	3	is	be	AUX
aijbms-113	28	4	determined	determine	VERB
aijbms-113	28	5	by	by	ADP
aijbms-113	28	6	profitability	profitability	NOUN
aijbms-113	28	7	,	,	PUNCT
aijbms-113	28	8	corporate	corporate	ADJ
aijbms-113	28	9	size	size	NOUN
aijbms-113	28	10	,	,	PUNCT
aijbms-113	28	11	liquidity	liquidity	NOUN
aijbms-113	28	12	,	,	PUNCT
aijbms-113	28	13	cash	cash	NOUN
aijbms-113	28	14	flows	flow	NOUN
aijbms-113	28	15	,	,	PUNCT
aijbms-113	28	16	tax	tax	NOUN
aijbms-113	28	17	and	and	CCONJ
aijbms-113	28	18	dividend	dividend	NOUN
aijbms-113	28	19	policy	policy	NOUN
aijbms-113	28	20	(	(	PUNCT
aijbms-113	28	21	rajin	rajin	NOUN
aijbms-113	28	22	,	,	PUNCT
aijbms-113	28	23	2012	2012	NUM
aijbms-113	28	24	)	)	PUNCT
aijbms-113	28	25	.	.	PUNCT
aijbms-113	29	1	it	it	PRON
aijbms-113	29	2	is	be	AUX
aijbms-113	29	3	measured	measure	VERB
aijbms-113	29	4	in	in	ADP
aijbms-113	29	5	terms	term	NOUN
aijbms-113	29	6	of	of	ADP
aijbms-113	29	7	debt	debt	NOUN
aijbms-113	29	8	equity	equity	NOUN
aijbms-113	29	9	ratio	ratio	NOUN
aijbms-113	29	10	,	,	PUNCT
aijbms-113	29	11	long	long	ADJ
aijbms-113	29	12	term	term	NOUN
aijbms-113	29	13	debt	debt	NOUN
aijbms-113	29	14	to	to	ADP
aijbms-113	29	15	total	total	ADJ
aijbms-113	29	16	debt	debt	NOUN
aijbms-113	29	17	,	,	PUNCT
aijbms-113	29	18	total	total	ADJ
aijbms-113	29	19	debt	debt	NOUN
aijbms-113	29	20	as	as	ADP
aijbms-113	29	21	percentage	percentage	NOUN
aijbms-113	29	22	to	to	ADP
aijbms-113	29	23	of	of	ADP
aijbms-113	29	24	total	total	ADJ
aijbms-113	29	25	asset	asset	NOUN
aijbms-113	29	26	and	and	CCONJ
aijbms-113	29	27	short	short	ADJ
aijbms-113	29	28	term	term	NOUN
aijbms-113	29	29	debt	debt	NOUN
aijbms-113	29	30	to	to	ADP
aijbms-113	29	31	total	total	ADJ
aijbms-113	29	32	debt	debt	NOUN
aijbms-113	29	33	(	(	PUNCT
aijbms-113	29	34	rehman	rehman	NOUN
aijbms-113	29	35	,	,	PUNCT
aijbms-113	29	36	2013	2013	NUM
aijbms-113	29	37	)	)	PUNCT
aijbms-113	29	38	.	.	PUNCT
aijbms-113	30	1	financial	financial	ADJ
aijbms-113	30	2	leverage	leverage	NOUN
aijbms-113	30	3	is	be	AUX
aijbms-113	30	4	intended	intend	VERB
aijbms-113	30	5	to	to	PART
aijbms-113	30	6	earn	earn	VERB
aijbms-113	30	7	more	more	ADJ
aijbms-113	30	8	on	on	ADP
aijbms-113	30	9	the	the	DET
aijbms-113	30	10	fixed	fix	VERB
aijbms-113	30	11	charges	charge	NOUN
aijbms-113	30	12	funds	fund	NOUN
aijbms-113	30	13	than	than	ADP
aijbms-113	30	14	their	their	PRON
aijbms-113	30	15	costs	cost	NOUN
aijbms-113	30	16	(	(	PUNCT
aijbms-113	30	17	tally	tally	NOUN
aijbms-113	30	18	,	,	PUNCT
aijbms-113	30	19	2014	2014	NUM
aijbms-113	30	20	)	)	PUNCT
aijbms-113	30	21	.	.	PUNCT
aijbms-113	31	1	the	the	DET
aijbms-113	31	2	effect	effect	NOUN
aijbms-113	31	3	of	of	ADP
aijbms-113	31	4	financial	financial	ADJ
aijbms-113	31	5	leverage	leverage	NOUN
aijbms-113	31	6	in	in	ADP
aijbms-113	31	7	maximizing	maximize	VERB
aijbms-113	31	8	the	the	DET
aijbms-113	31	9	return	return	NOUN
aijbms-113	31	10	of	of	ADP
aijbms-113	31	11	the	the	DET
aijbms-113	31	12	www.acseusa.org/journal/index.php/aijbms	www.acseusa.org/journal/index.php/aijbms	NOUN
aijbms-113	31	13	american	american	PROPN
aijbms-113	31	14	international	international	PROPN
aijbms-113	31	15	journal	journal	PROPN
aijbms-113	31	16	of	of	ADP
aijbms-113	31	17	business	business	NOUN
aijbms-113	31	18	and	and	CCONJ
aijbms-113	31	19	management	management	NOUN
aijbms-113	31	20	studies	study	NOUN
aijbms-113	31	21	vol	vol	NOUN
aijbms-113	31	22	.	.	PROPN
aijbms-113	31	23	1	1	NUM
aijbms-113	31	24	,	,	PUNCT
aijbms-113	31	25	no	no	INTJ
aijbms-113	31	26	.	.	NOUN
aijbms-113	31	27	1	1	NUM
aijbms-113	31	28	;	;	PUNCT
aijbms-113	31	29	2019	2019	NUM
aijbms-113	31	30	49	49	NUM
aijbms-113	31	31	shareholders	shareholder	NOUN
aijbms-113	31	32	’	'	PUNCT
aijbms-113	31	33	is	be	AUX
aijbms-113	31	34	based	base	VERB
aijbms-113	31	35	on	on	ADP
aijbms-113	31	36	the	the	DET
aijbms-113	31	37	assumptions	assumption	NOUN
aijbms-113	31	38	that	that	SCONJ
aijbms-113	31	39	the	the	DET
aijbms-113	31	40	fixedcharges	fixedcharge	NOUN
aijbms-113	31	41	funds	fund	NOUN
aijbms-113	31	42	such	such	ADJ
aijbms-113	31	43	as	as	ADP
aijbms-113	31	44	the	the	DET
aijbms-113	31	45	loan	loan	NOUN
aijbms-113	31	46	and	and	CCONJ
aijbms-113	31	47	debentures	debenture	NOUN
aijbms-113	31	48	can	can	AUX
aijbms-113	31	49	be	be	AUX
aijbms-113	31	50	obtained	obtain	VERB
aijbms-113	31	51	at	at	ADP
aijbms-113	31	52	a	a	DET
aijbms-113	31	53	cost	cost	NOUN
aijbms-113	31	54	lower	low	ADJ
aijbms-113	31	55	than	than	ADP
aijbms-113	31	56	the	the	DET
aijbms-113	31	57	firm	firm	NOUN
aijbms-113	31	58	’s	’s	PART
aijbms-113	31	59	rate	rate	NOUN
aijbms-113	31	60	of	of	ADP
aijbms-113	31	61	return	return	NOUN
aijbms-113	31	62	on	on	ADP
aijbms-113	31	63	net	net	ADJ
aijbms-113	31	64	assets	asset	NOUN
aijbms-113	31	65	(	(	PUNCT
aijbms-113	31	66	damouri	damouri	PROPN
aijbms-113	31	67	,	,	PUNCT
aijbms-113	31	68	2013	2013	NUM
aijbms-113	31	69	)	)	PUNCT
aijbms-113	31	70	.	.	PUNCT
aijbms-113	32	1	according	accord	VERB
aijbms-113	32	2	to	to	ADP
aijbms-113	32	3	the	the	DET
aijbms-113	32	4	trade	trade	NOUN
aijbms-113	32	5	off	off	ADP
aijbms-113	32	6	theory	theory	NOUN
aijbms-113	32	7	(	(	PUNCT
aijbms-113	32	8	kraus	kraus	PROPN
aijbms-113	32	9	&	&	CCONJ
aijbms-113	32	10	litzenberger	litzenberger	PROPN
aijbms-113	32	11	,	,	PUNCT
aijbms-113	32	12	1973	1973	NUM
aijbms-113	32	13	)	)	PUNCT
aijbms-113	32	14	the	the	DET
aijbms-113	32	15	optimal	optimal	ADJ
aijbms-113	32	16	capital	capital	NOUN
aijbms-113	32	17	structure	structure	NOUN
aijbms-113	32	18	is	be	AUX
aijbms-113	32	19	determined	determine	VERB
aijbms-113	32	20	by	by	ADP
aijbms-113	32	21	balancing	balance	VERB
aijbms-113	32	22	the	the	DET
aijbms-113	32	23	positives	positive	NOUN
aijbms-113	32	24	&	&	CCONJ
aijbms-113	32	25	negative	negative	ADJ
aijbms-113	32	26	effects	effect	NOUN
aijbms-113	32	27	of	of	ADP
aijbms-113	32	28	financial	financial	ADJ
aijbms-113	32	29	leverage	leverage	NOUN
aijbms-113	32	30	.	.	PUNCT
aijbms-113	33	1	in	in	ADP
aijbms-113	33	2	other	other	ADJ
aijbms-113	33	3	words	word	NOUN
aijbms-113	33	4	,	,	PUNCT
aijbms-113	33	5	balancing	balance	VERB
aijbms-113	33	6	the	the	DET
aijbms-113	33	7	benefits	benefit	NOUN
aijbms-113	33	8	of	of	ADP
aijbms-113	33	9	debt	debt	NOUN
aijbms-113	33	10	financing	financing	NOUN
aijbms-113	33	11	,	,	PUNCT
aijbms-113	33	12	that	that	PRON
aijbms-113	33	13	includes	include	VERB
aijbms-113	33	14	:	:	PUNCT
aijbms-113	33	15	tax	tax	NOUN
aijbms-113	33	16	savings	saving	NOUN
aijbms-113	33	17	,	,	PUNCT
aijbms-113	33	18	reducing	reduce	VERB
aijbms-113	33	19	agency	agency	NOUN
aijbms-113	33	20	cost	cost	NOUN
aijbms-113	33	21	,	,	PUNCT
aijbms-113	33	22	with	with	ADP
aijbms-113	33	23	the	the	DET
aijbms-113	33	24	cost	cost	NOUN
aijbms-113	33	25	associated	associate	VERB
aijbms-113	33	26	with	with	ADP
aijbms-113	33	27	the	the	DET
aijbms-113	33	28	debt	debt	NOUN
aijbms-113	33	29	,	,	PUNCT
aijbms-113	33	30	that	that	PRON
aijbms-113	33	31	include	include	VERB
aijbms-113	33	32	direct	direct	ADJ
aijbms-113	33	33	and	and	CCONJ
aijbms-113	33	34	indirect	indirect	ADJ
aijbms-113	33	35	bankruptcy	bankruptcy	NOUN
aijbms-113	33	36	costs	cost	NOUN
aijbms-113	33	37	.	.	PUNCT
aijbms-113	34	1	furthermore	furthermore	ADV
aijbms-113	34	2	,	,	PUNCT
aijbms-113	34	3	the	the	DET
aijbms-113	34	4	use	use	NOUN
aijbms-113	34	5	of	of	ADP
aijbms-113	34	6	financial	financial	ADJ
aijbms-113	34	7	leverage	leverage	NOUN
aijbms-113	34	8	is	be	AUX
aijbms-113	34	9	proven	prove	VERB
aijbms-113	34	10	to	to	PART
aijbms-113	34	11	be	be	AUX
aijbms-113	34	12	beneficial	beneficial	ADJ
aijbms-113	34	13	when	when	SCONJ
aijbms-113	34	14	the	the	DET
aijbms-113	34	15	investment	investment	NOUN
aijbms-113	34	16	made	make	VERB
aijbms-113	34	17	by	by	ADP
aijbms-113	34	18	the	the	DET
aijbms-113	34	19	leverage	leverage	NOUN
aijbms-113	34	20	earn	earn	VERB
aijbms-113	34	21	returns	return	NOUN
aijbms-113	34	22	more	more	ADJ
aijbms-113	34	23	than	than	ADP
aijbms-113	34	24	the	the	DET
aijbms-113	34	25	cost	cost	NOUN
aijbms-113	34	26	of	of	ADP
aijbms-113	34	27	debt	debt	NOUN
aijbms-113	34	28	.	.	PUNCT
aijbms-113	35	1	these	these	DET
aijbms-113	35	2	disadvantages	disadvantage	NOUN
aijbms-113	35	3	are	be	AUX
aijbms-113	35	4	relatively	relatively	ADV
aijbms-113	35	5	small	small	ADJ
aijbms-113	35	6	as	as	SCONJ
aijbms-113	35	7	compared	compare	VERB
aijbms-113	35	8	to	to	ADP
aijbms-113	35	9	the	the	DET
aijbms-113	35	10	tax	tax	NOUN
aijbms-113	35	11	shield	shield	NOUN
aijbms-113	35	12	that	that	PRON
aijbms-113	35	13	associates	associate	VERB
aijbms-113	35	14	the	the	DET
aijbms-113	35	15	use	use	NOUN
aijbms-113	35	16	of	of	ADP
aijbms-113	35	17	financial	financial	ADJ
aijbms-113	35	18	leverage	leverage	NOUN
aijbms-113	35	19	.	.	PUNCT
aijbms-113	36	1	on	on	ADP
aijbms-113	36	2	the	the	DET
aijbms-113	36	3	other	other	ADJ
aijbms-113	36	4	hand	hand	NOUN
aijbms-113	36	5	,	,	PUNCT
aijbms-113	36	6	financial	financial	ADJ
aijbms-113	36	7	leverage	leverage	NOUN
aijbms-113	36	8	may	may	AUX
aijbms-113	36	9	have	have	VERB
aijbms-113	36	10	a	a	DET
aijbms-113	36	11	negative	negative	ADJ
aijbms-113	36	12	impact	impact	NOUN
aijbms-113	36	13	if	if	SCONJ
aijbms-113	36	14	the	the	DET
aijbms-113	36	15	investment	investment	NOUN
aijbms-113	36	16	that	that	PRON
aijbms-113	36	17	has	have	AUX
aijbms-113	36	18	been	be	AUX
aijbms-113	36	19	made	make	VERB
aijbms-113	36	20	did	do	AUX
aijbms-113	36	21	not	not	PART
aijbms-113	36	22	achieve	achieve	VERB
aijbms-113	36	23	sufficient	sufficient	ADJ
aijbms-113	36	24	returns	return	NOUN
aijbms-113	36	25	having	have	VERB
aijbms-113	36	26	no	no	DET
aijbms-113	36	27	recognizable	recognizable	ADJ
aijbms-113	36	28	income	income	NOUN
aijbms-113	36	29	to	to	PART
aijbms-113	36	30	shield	shield	VERB
aijbms-113	36	31	,	,	PUNCT
aijbms-113	36	32	meaning	mean	VERB
aijbms-113	36	33	that	that	SCONJ
aijbms-113	36	34	returns	return	NOUN
aijbms-113	36	35	is	be	AUX
aijbms-113	36	36	lower	low	ADJ
aijbms-113	36	37	than	than	ADP
aijbms-113	36	38	the	the	DET
aijbms-113	36	39	cost	cost	NOUN
aijbms-113	36	40	of	of	ADP
aijbms-113	36	41	debt	debt	NOUN
aijbms-113	36	42	the	the	DET
aijbms-113	36	43	company	company	NOUN
aijbms-113	36	44	will	will	AUX
aijbms-113	36	45	be	be	AUX
aijbms-113	36	46	at	at	ADP
aijbms-113	36	47	a	a	DET
aijbms-113	36	48	higher	high	ADJ
aijbms-113	36	49	risk	risk	NOUN
aijbms-113	36	50	due	due	ADP
aijbms-113	36	51	to	to	ADP
aijbms-113	36	52	the	the	DET
aijbms-113	36	53	level	level	NOUN
aijbms-113	36	54	of	of	ADP
aijbms-113	36	55	debt	debt	NOUN
aijbms-113	36	56	they	they	PRON
aijbms-113	36	57	undertook	undertake	VERB
aijbms-113	36	58	,	,	PUNCT
aijbms-113	36	59	resulting	result	VERB
aijbms-113	36	60	in	in	ADP
aijbms-113	36	61	reducing	reduce	VERB
aijbms-113	36	62	the	the	DET
aijbms-113	36	63	overall	overall	ADJ
aijbms-113	36	64	value	value	NOUN
aijbms-113	36	65	of	of	ADP
aijbms-113	36	66	the	the	DET
aijbms-113	36	67	company	company	NOUN
aijbms-113	36	68	.	.	PUNCT
aijbms-113	37	1	the	the	DET
aijbms-113	37	2	ambiguity	ambiguity	NOUN
aijbms-113	37	3	in	in	ADP
aijbms-113	37	4	the	the	DET
aijbms-113	37	5	theories	theory	NOUN
aijbms-113	37	6	further	far	ADV
aijbms-113	37	7	deepens	deepen	VERB
aijbms-113	37	8	the	the	DET
aijbms-113	37	9	controversies	controversy	NOUN
aijbms-113	37	10	on	on	ADP
aijbms-113	37	11	the	the	DET
aijbms-113	37	12	relationship	relationship	NOUN
aijbms-113	37	13	between	between	ADP
aijbms-113	37	14	financing	finance	VERB
aijbms-113	37	15	leverage	leverage	NOUN
aijbms-113	37	16	and	and	CCONJ
aijbms-113	37	17	firms	firm	NOUN
aijbms-113	37	18	’	'	PUNCT
aijbms-113	37	19	value	value	NOUN
aijbms-113	37	20	.	.	PUNCT
aijbms-113	38	1	the	the	DET
aijbms-113	38	2	applicability	applicability	NOUN
aijbms-113	38	3	of	of	ADP
aijbms-113	38	4	the	the	DET
aijbms-113	38	5	theories	theory	NOUN
aijbms-113	38	6	can	can	AUX
aijbms-113	38	7	better	well	ADV
aijbms-113	38	8	work	work	VERB
aijbms-113	38	9	in	in	ADP
aijbms-113	38	10	the	the	DET
aijbms-113	38	11	business	business	NOUN
aijbms-113	38	12	environment	environment	NOUN
aijbms-113	38	13	where	where	SCONJ
aijbms-113	38	14	the	the	DET
aijbms-113	38	15	degree	degree	NOUN
aijbms-113	38	16	of	of	ADP
aijbms-113	38	17	market	market	NOUN
aijbms-113	38	18	imperfection	imperfection	NOUN
aijbms-113	38	19	is	be	AUX
aijbms-113	38	20	less	less	ADV
aijbms-113	38	21	compared	compare	VERB
aijbms-113	38	22	to	to	ADP
aijbms-113	38	23	the	the	DET
aijbms-113	38	24	high	high	ADJ
aijbms-113	38	25	degree	degree	NOUN
aijbms-113	38	26	of	of	ADP
aijbms-113	38	27	market	market	NOUN
aijbms-113	38	28	imperfection	imperfection	NOUN
aijbms-113	38	29	such	such	ADJ
aijbms-113	38	30	as	as	ADP
aijbms-113	38	31	the	the	DET
aijbms-113	38	32	financial	financial	ADJ
aijbms-113	38	33	market	market	NOUN
aijbms-113	38	34	of	of	ADP
aijbms-113	38	35	the	the	DET
aijbms-113	38	36	developing	develop	VERB
aijbms-113	38	37	countries	country	NOUN
aijbms-113	38	38	like	like	ADP
aijbms-113	38	39	nigeria	nigeria	PRON
aijbms-113	38	40	where	where	SCONJ
aijbms-113	38	41	the	the	DET
aijbms-113	38	42	market	market	NOUN
aijbms-113	38	43	is	be	AUX
aijbms-113	38	44	characterize	characterize	NOUN
aijbms-113	38	45	with	with	ADP
aijbms-113	38	46	information	information	NOUN
aijbms-113	38	47	asymmetric	asymmetric	ADJ
aijbms-113	38	48	and	and	CCONJ
aijbms-113	38	49	risk	risk	NOUN
aijbms-113	38	50	that	that	PRON
aijbms-113	38	51	can	can	AUX
aijbms-113	38	52	affect	affect	VERB
aijbms-113	38	53	the	the	DET
aijbms-113	38	54	performance	performance	NOUN
aijbms-113	38	55	of	of	ADP
aijbms-113	38	56	the	the	DET
aijbms-113	38	57	firms	firm	NOUN
aijbms-113	38	58	contrary	contrary	ADJ
aijbms-113	38	59	to	to	ADP
aijbms-113	38	60	theories	theory	NOUN
aijbms-113	38	61	.	.	PUNCT
aijbms-113	39	1	financial	financial	ADJ
aijbms-113	39	2	leverage	leverage	NOUN
aijbms-113	39	3	have	have	VERB
aijbms-113	39	4	the	the	DET
aijbms-113	39	5	advantages	advantage	NOUN
aijbms-113	39	6	of	of	ADP
aijbms-113	39	7	tax	tax	NOUN
aijbms-113	39	8	shield	shield	NOUN
aijbms-113	39	9	benefits	benefit	NOUN
aijbms-113	39	10	and	and	CCONJ
aijbms-113	39	11	the	the	DET
aijbms-113	39	12	risk	risk	NOUN
aijbms-113	39	13	level	level	NOUN
aijbms-113	39	14	associated	associate	VERB
aijbms-113	39	15	with	with	ADP
aijbms-113	39	16	the	the	DET
aijbms-113	39	17	debt	debt	NOUN
aijbms-113	39	18	financing	financing	NOUN
aijbms-113	39	19	makes	make	VERB
aijbms-113	39	20	it	it	PRON
aijbms-113	39	21	less	less	ADV
aijbms-113	39	22	expensive	expensive	ADJ
aijbms-113	39	23	than	than	ADP
aijbms-113	39	24	equity	equity	NOUN
aijbms-113	39	25	financing	financing	NOUN
aijbms-113	39	26	.	.	PUNCT
aijbms-113	39	27	,	,	PUNCT
aijbms-113	39	28	from	from	ADP
aijbms-113	39	29	investors	investor	NOUN
aijbms-113	39	30	point	point	NOUN
aijbms-113	39	31	of	of	ADP
aijbms-113	39	32	view	view	NOUN
aijbms-113	39	33	investing	invest	VERB
aijbms-113	39	34	in	in	ADP
aijbms-113	39	35	debt	debt	NOUN
aijbms-113	39	36	securities	security	NOUN
aijbms-113	39	37	is	be	AUX
aijbms-113	39	38	less	less	ADV
aijbms-113	39	39	risky	risky	ADJ
aijbms-113	39	40	than	than	ADP
aijbms-113	39	41	investing	invest	VERB
aijbms-113	39	42	in	in	ADP
aijbms-113	39	43	publicly	publicly	ADV
aijbms-113	39	44	trading	trading	NOUN
aijbms-113	39	45	stocks	stock	NOUN
aijbms-113	39	46	,	,	PUNCT
aijbms-113	39	47	as	as	SCONJ
aijbms-113	39	48	debt	debt	NOUN
aijbms-113	39	49	securities	security	NOUN
aijbms-113	39	50	is	be	AUX
aijbms-113	39	51	not	not	PART
aijbms-113	39	52	subjects	subject	NOUN
aijbms-113	39	53	to	to	ADP
aijbms-113	39	54	the	the	DET
aijbms-113	39	55	risks	risk	NOUN
aijbms-113	39	56	associated	associate	VERB
aijbms-113	39	57	with	with	ADP
aijbms-113	39	58	the	the	DET
aijbms-113	39	59	stock	stock	NOUN
aijbms-113	39	60	market	market	NOUN
aijbms-113	39	61	,	,	PUNCT
aijbms-113	39	62	through	through	ADP
aijbms-113	39	63	debt	debt	NOUN
aijbms-113	39	64	financing	financing	NOUN
aijbms-113	39	65	the	the	DET
aijbms-113	39	66	company	company	NOUN
aijbms-113	39	67	is	be	AUX
aijbms-113	39	68	no	no	ADV
aijbms-113	39	69	longer	long	ADV
aijbms-113	39	70	affected	affect	VERB
aijbms-113	39	71	by	by	ADP
aijbms-113	39	72	changes	change	NOUN
aijbms-113	39	73	in	in	ADP
aijbms-113	39	74	the	the	DET
aijbms-113	39	75	interest	interest	NOUN
aijbms-113	39	76	rate	rate	NOUN
aijbms-113	39	77	that	that	PRON
aijbms-113	39	78	occur	occur	VERB
aijbms-113	39	79	in	in	ADP
aijbms-113	39	80	the	the	DET
aijbms-113	39	81	market	market	NOUN
aijbms-113	39	82	,	,	PUNCT
aijbms-113	39	83	the	the	DET
aijbms-113	39	84	cost	cost	NOUN
aijbms-113	39	85	of	of	ADP
aijbms-113	39	86	issuing	issue	VERB
aijbms-113	39	87	long	long	ADJ
aijbms-113	39	88	-	-	PUNCT
aijbms-113	39	89	term	term	NOUN
aijbms-113	39	90	securities	security	NOUN
aijbms-113	39	91	such	such	ADJ
aijbms-113	39	92	as	as	ADP
aijbms-113	39	93	:	:	PUNCT
aijbms-113	39	94	bonds	bond	NOUN
aijbms-113	39	95	&	&	CCONJ
aijbms-113	39	96	loan	loan	NOUN
aijbms-113	39	97	contracting	contracting	NOUN
aijbms-113	39	98	is	be	AUX
aijbms-113	39	99	lower	low	ADJ
aijbms-113	39	100	than	than	ADP
aijbms-113	39	101	the	the	DET
aijbms-113	39	102	cost	cost	NOUN
aijbms-113	39	103	of	of	ADP
aijbms-113	39	104	stock	stock	NOUN
aijbms-113	39	105	issuing	issue	VERB
aijbms-113	39	106	while	while	SCONJ
aijbms-113	39	107	the	the	DET
aijbms-113	39	108	disadvantages	disadvantage	NOUN
aijbms-113	39	109	includes	include	VERB
aijbms-113	39	110	increase	increase	NOUN
aijbms-113	39	111	in	in	ADP
aijbms-113	39	112	the	the	DET
aijbms-113	39	113	company	company	NOUN
aijbms-113	39	114	’s	’s	PART
aijbms-113	39	115	financial	financial	ADJ
aijbms-113	39	116	risk	risk	NOUN
aijbms-113	39	117	,	,	PUNCT
aijbms-113	39	118	the	the	DET
aijbms-113	39	119	nature	nature	NOUN
aijbms-113	39	120	of	of	ADP
aijbms-113	39	121	some	some	PRON
aijbms-113	39	122	of	of	ADP
aijbms-113	39	123	the	the	DET
aijbms-113	39	124	types	type	NOUN
aijbms-113	39	125	of	of	ADP
aijbms-113	39	126	debt	debt	NOUN
aijbms-113	39	127	financing	financing	NOUN
aijbms-113	39	128	(	(	PUNCT
aijbms-113	39	129	bonds	bond	NOUN
aijbms-113	39	130	)	)	PUNCT
aijbms-113	39	131	requires	require	VERB
aijbms-113	39	132	the	the	DET
aijbms-113	39	133	company	company	NOUN
aijbms-113	39	134	to	to	PART
aijbms-113	39	135	have	have	VERB
aijbms-113	39	136	a	a	DET
aijbms-113	39	137	large	large	ADJ
aijbms-113	39	138	amount	amount	NOUN
aijbms-113	39	139	of	of	ADP
aijbms-113	39	140	money	money	NOUN
aijbms-113	39	141	at	at	ADP
aijbms-113	39	142	maturity	maturity	NOUN
aijbms-113	39	143	,	,	PUNCT
aijbms-113	39	144	as	as	ADP
aijbms-113	39	145	a	a	DET
aijbms-113	39	146	result	result	NOUN
aijbms-113	39	147	of	of	ADP
aijbms-113	39	148	the	the	DET
aijbms-113	39	149	high	high	ADJ
aijbms-113	39	150	risk	risk	NOUN
aijbms-113	39	151	that	that	PRON
aijbms-113	39	152	associate	associate	VERB
aijbms-113	39	153	the	the	DET
aijbms-113	39	154	use	use	NOUN
aijbms-113	39	155	of	of	ADP
aijbms-113	39	156	the	the	DET
aijbms-113	39	157	use	use	NOUN
aijbms-113	39	158	of	of	ADP
aijbms-113	39	159	debt	debt	NOUN
aijbms-113	39	160	securities	security	NOUN
aijbms-113	39	161	,	,	PUNCT
aijbms-113	39	162	the	the	DET
aijbms-113	39	163	company	company	NOUN
aijbms-113	39	164	becomes	become	VERB
aijbms-113	39	165	subject	subject	ADJ
aijbms-113	39	166	to	to	ADP
aijbms-113	39	167	more	more	ADJ
aijbms-113	39	168	restrictions	restriction	NOUN
aijbms-113	39	169	and	and	CCONJ
aijbms-113	39	170	obtaining	obtain	VERB
aijbms-113	39	171	long	long	ADJ
aijbms-113	39	172	-	-	PUNCT
aijbms-113	39	173	term	term	NOUN
aijbms-113	39	174	loans	loan	NOUN
aijbms-113	39	175	may	may	AUX
aijbms-113	39	176	be	be	AUX
aijbms-113	39	177	difficult	difficult	ADJ
aijbms-113	39	178	for	for	ADP
aijbms-113	39	179	small	small	ADJ
aijbms-113	39	180	companies	company	NOUN
aijbms-113	39	181	that	that	PRON
aijbms-113	39	182	are	be	AUX
aijbms-113	39	183	new	new	ADJ
aijbms-113	39	184	in	in	ADP
aijbms-113	39	185	the	the	DET
aijbms-113	39	186	market	market	NOUN
aijbms-113	39	187	.	.	PUNCT
aijbms-113	40	1	while	while	SCONJ
aijbms-113	40	2	the	the	DET
aijbms-113	40	3	effect	effect	NOUN
aijbms-113	40	4	of	of	ADP
aijbms-113	40	5	financial	financial	ADJ
aijbms-113	40	6	leverage	leverage	NOUN
aijbms-113	40	7	has	have	AUX
aijbms-113	40	8	well	well	ADV
aijbms-113	40	9	been	be	AUX
aijbms-113	40	10	documented	document	VERB
aijbms-113	40	11	in	in	ADP
aijbms-113	40	12	literature	literature	NOUN
aijbms-113	40	13	,	,	PUNCT
aijbms-113	40	14	empirical	empirical	ADJ
aijbms-113	40	15	findings	finding	NOUN
aijbms-113	40	16	remain	remain	VERB
aijbms-113	40	17	controversial	controversial	ADJ
aijbms-113	40	18	,	,	PUNCT
aijbms-113	40	19	inconclusive	inconclusive	ADJ
aijbms-113	40	20	and	and	CCONJ
aijbms-113	40	21	difficult	difficult	ADJ
aijbms-113	40	22	to	to	PART
aijbms-113	40	23	be	be	AUX
aijbms-113	40	24	adopted	adopt	VERB
aijbms-113	40	25	for	for	ADP
aijbms-113	40	26	policy	policy	NOUN
aijbms-113	40	27	making	making	NOUN
aijbms-113	40	28	,	,	PUNCT
aijbms-113	40	29	therefore	therefore	ADV
aijbms-113	40	30	this	this	DET
aijbms-113	40	31	study	study	NOUN
aijbms-113	40	32	investigated	investigate	VERB
aijbms-113	40	33	the	the	DET
aijbms-113	40	34	effect	effect	NOUN
aijbms-113	40	35	of	of	ADP
aijbms-113	40	36	financial	financial	ADJ
aijbms-113	40	37	leverage	leverage	NOUN
aijbms-113	40	38	on	on	ADP
aijbms-113	40	39	the	the	DET
aijbms-113	40	40	financial	financial	ADJ
aijbms-113	40	41	performance	performance	NOUN
aijbms-113	40	42	of	of	ADP
aijbms-113	40	43	quoted	quote	VERB
aijbms-113	40	44	nigeria	nigeria	PROPN
aijbms-113	40	45	firms	firm	NOUN
aijbms-113	40	46	.	.	PUNCT
aijbms-113	41	1	literature	literature	NOUN
aijbms-113	41	2	review	review	VERB
aijbms-113	41	3	theoretical	theoretical	ADJ
aijbms-113	41	4	review	review	NOUN
aijbms-113	41	5	in	in	ADP
aijbms-113	41	6	the	the	DET
aijbms-113	41	7	theory	theory	NOUN
aijbms-113	41	8	of	of	ADP
aijbms-113	41	9	firm	firm	NOUN
aijbms-113	41	10	's	's	PART
aijbms-113	41	11	capital	capital	NOUN
aijbms-113	41	12	structure	structure	NOUN
aijbms-113	41	13	and	and	CCONJ
aijbms-113	41	14	financing	financing	NOUN
aijbms-113	41	15	decisions	decision	NOUN
aijbms-113	41	16	,	,	PUNCT
aijbms-113	41	17	the	the	DET
aijbms-113	41	18	pecking	pecking	NOUN
aijbms-113	41	19	order	order	NOUN
aijbms-113	41	20	was	be	AUX
aijbms-113	41	21	first	first	ADV
aijbms-113	41	22	suggested	suggest	VERB
aijbms-113	41	23	by	by	ADP
aijbms-113	41	24	donaldson	donaldson	PROPN
aijbms-113	41	25	in	in	ADP
aijbms-113	41	26	1961	1961	NUM
aijbms-113	41	27	and	and	CCONJ
aijbms-113	41	28	it	it	PRON
aijbms-113	41	29	was	be	AUX
aijbms-113	41	30	modified	modify	VERB
aijbms-113	41	31	by	by	ADP
aijbms-113	41	32	myers	myer	NOUN
aijbms-113	41	33	and	and	CCONJ
aijbms-113	41	34	majluf	majluf	PROPN
aijbms-113	41	35	(	(	PUNCT
aijbms-113	41	36	1984	1984	NUM
aijbms-113	41	37	)	)	PUNCT
aijbms-113	41	38	.	.	PUNCT
aijbms-113	42	1	it	it	PRON
aijbms-113	42	2	states	state	VERB
aijbms-113	42	3	that	that	SCONJ
aijbms-113	42	4	companies	company	NOUN
aijbms-113	42	5	prioritize	prioritize	VERB
aijbms-113	42	6	their	their	PRON
aijbms-113	42	7	sources	source	NOUN
aijbms-113	42	8	of	of	ADP
aijbms-113	42	9	financing	financing	NOUN
aijbms-113	42	10	(	(	PUNCT
aijbms-113	42	11	from	from	ADP
aijbms-113	42	12	internal	internal	ADJ
aijbms-113	42	13	financing	financing	NOUN
aijbms-113	42	14	to	to	ADP
aijbms-113	42	15	equity	equity	NOUN
aijbms-113	42	16	)	)	PUNCT
aijbms-113	42	17	according	accord	VERB
aijbms-113	42	18	to	to	ADP
aijbms-113	42	19	the	the	DET
aijbms-113	42	20	principle	principle	NOUN
aijbms-113	42	21	of	of	ADP
aijbms-113	42	22	least	least	ADJ
aijbms-113	42	23	effort	effort	NOUN
aijbms-113	42	24	,	,	PUNCT
aijbms-113	42	25	or	or	CCONJ
aijbms-113	42	26	of	of	ADP
aijbms-113	42	27	least	least	ADJ
aijbms-113	42	28	resistance	resistance	NOUN
aijbms-113	42	29	,	,	PUNCT
aijbms-113	42	30	preferring	prefer	VERB
aijbms-113	42	31	to	to	PART
aijbms-113	42	32	raise	raise	VERB
aijbms-113	42	33	equity	equity	NOUN
aijbms-113	42	34	as	as	ADP
aijbms-113	42	35	a	a	DET
aijbms-113	42	36	financing	financing	NOUN
aijbms-113	42	37	means	mean	NOUN
aijbms-113	42	38	of	of	ADP
aijbms-113	42	39	last	last	ADJ
aijbms-113	42	40	resort	resort	NOUN
aijbms-113	42	41	.	.	PUNCT
aijbms-113	43	1	hence	hence	ADV
aijbms-113	43	2	,	,	PUNCT
aijbms-113	43	3	internal	internal	ADJ
aijbms-113	43	4	funds	fund	NOUN
aijbms-113	43	5	are	be	AUX
aijbms-113	43	6	used	use	VERB
aijbms-113	43	7	first	first	ADV
aijbms-113	43	8	,	,	PUNCT
aijbms-113	43	9	and	and	CCONJ
aijbms-113	43	10	when	when	SCONJ
aijbms-113	43	11	that	that	PRON
aijbms-113	43	12	is	be	AUX
aijbms-113	43	13	depleted	deplete	VERB
aijbms-113	43	14	,	,	PUNCT
aijbms-113	43	15	debt	debt	NOUN
aijbms-113	43	16	is	be	AUX
aijbms-113	43	17	issued	issue	VERB
aijbms-113	43	18	,	,	PUNCT
aijbms-113	43	19	and	and	CCONJ
aijbms-113	43	20	when	when	SCONJ
aijbms-113	43	21	it	it	PRON
aijbms-113	43	22	is	be	AUX
aijbms-113	43	23	not	not	PART
aijbms-113	43	24	sensible	sensible	ADJ
aijbms-113	43	25	to	to	PART
aijbms-113	43	26	issue	issue	VERB
aijbms-113	43	27	any	any	DET
aijbms-113	43	28	more	more	ADJ
aijbms-113	43	29	debt	debt	NOUN
aijbms-113	43	30	,	,	PUNCT
aijbms-113	43	31	equity	equity	NOUN
aijbms-113	43	32	is	be	AUX
aijbms-113	43	33	issued	issue	VERB
aijbms-113	43	34	.	.	PUNCT
aijbms-113	44	1	pecking	pecking	NOUN
aijbms-113	44	2	order	order	NOUN
aijbms-113	44	3	theory	theory	NOUN
aijbms-113	44	4	tries	try	VERB
aijbms-113	44	5	to	to	PART
aijbms-113	44	6	capture	capture	VERB
aijbms-113	44	7	the	the	DET
aijbms-113	44	8	costs	cost	NOUN
aijbms-113	44	9	of	of	ADP
aijbms-113	44	10	asymmetric	asymmetric	ADJ
aijbms-113	44	11	information	information	NOUN
aijbms-113	44	12	.	.	PUNCT
aijbms-113	45	1	it	it	PRON
aijbms-113	45	2	states	state	VERB
aijbms-113	45	3	that	that	SCONJ
aijbms-113	45	4	companies	company	NOUN
aijbms-113	45	5	prioritize	prioritize	VERB
aijbms-113	45	6	their	their	PRON
aijbms-113	45	7	sources	source	NOUN
aijbms-113	45	8	of	of	ADP
aijbms-113	45	9	financing	financing	NOUN
aijbms-113	45	10	according	accord	VERB
aijbms-113	45	11	to	to	ADP
aijbms-113	45	12	the	the	DET
aijbms-113	45	13	law	law	NOUN
aijbms-113	45	14	of	of	ADP
aijbms-113	45	15	least	least	ADJ
aijbms-113	45	16	effort	effort	NOUN
aijbms-113	45	17	,	,	PUNCT
aijbms-113	45	18	or	or	CCONJ
aijbms-113	45	19	of	of	ADP
aijbms-113	45	20	least	least	ADJ
aijbms-113	45	21	resistance	resistance	NOUN
aijbms-113	45	22	,	,	PUNCT
aijbms-113	45	23	preferring	prefer	VERB
aijbms-113	45	24	to	to	PART
aijbms-113	45	25	raise	raise	VERB
aijbms-113	45	26	equity	equity	NOUN
aijbms-113	45	27	as	as	ADP
aijbms-113	45	28	a	a	DET
aijbms-113	45	29	financing	financing	NOUN
aijbms-113	45	30	means	mean	NOUN
aijbms-113	45	31	of	of	ADP
aijbms-113	45	32	last	last	ADJ
aijbms-113	45	33	resort	resort	NOUN
aijbms-113	45	34	.	.	PUNCT
aijbms-113	46	1	according	accord	VERB
aijbms-113	46	2	to	to	ADP
aijbms-113	46	3	myers	myers	PROPN
aijbms-113	46	4	(	(	PUNCT
aijbms-113	46	5	1984	1984	NUM
aijbms-113	46	6	)	)	PUNCT
aijbms-113	46	7	,	,	PUNCT
aijbms-113	46	8	due	due	ADP
aijbms-113	46	9	to	to	ADP
aijbms-113	46	10	adverse	adverse	ADJ
aijbms-113	46	11	selection	selection	NOUN
aijbms-113	46	12	,	,	PUNCT
aijbms-113	46	13	firms	firm	NOUN
aijbms-113	46	14	prefer	prefer	VERB
aijbms-113	46	15	internal	internal	ADJ
aijbms-113	46	16	to	to	ADP
aijbms-113	46	17	external	external	ADJ
aijbms-113	46	18	finance	finance	NOUN
aijbms-113	46	19	.	.	PUNCT
aijbms-113	47	1	when	when	SCONJ
aijbms-113	47	2	outside	outside	ADJ
aijbms-113	47	3	funds	fund	NOUN
aijbms-113	47	4	are	be	AUX
aijbms-113	47	5	necessary	necessary	ADJ
aijbms-113	47	6	,	,	PUNCT
aijbms-113	47	7	firms	firm	NOUN
aijbms-113	47	8	prefer	prefer	VERB
aijbms-113	47	9	debt	debt	NOUN
aijbms-113	47	10	to	to	ADP
aijbms-113	47	11	equity	equity	NOUN
aijbms-113	47	12	because	because	SCONJ
aijbms-113	47	13	of	of	ADP
aijbms-113	47	14	lower	low	ADJ
aijbms-113	47	15	information	information	NOUN
aijbms-113	47	16	costs	cost	NOUN
aijbms-113	47	17	associated	associate	VERB
aijbms-113	47	18	with	with	ADP
aijbms-113	47	19	debt	debt	NOUN
aijbms-113	47	20	issues	issue	NOUN
aijbms-113	47	21	.	.	PUNCT
aijbms-113	48	1	these	these	DET
aijbms-113	48	2	ideas	idea	NOUN
aijbms-113	48	3	were	be	AUX
aijbms-113	48	4	refined	refine	VERB
aijbms-113	48	5	into	into	ADP
aijbms-113	48	6	a	a	DET
aijbms-113	48	7	key	key	ADJ
aijbms-113	48	8	testable	testable	ADJ
aijbms-113	48	9	prediction	prediction	NOUN
aijbms-113	48	10	by	by	ADP
aijbms-113	48	11	shyam	shyam	PROPN
aijbms-113	48	12	-	-	PUNCT
aijbms-113	48	13	sunder	sunder	NOUN
aijbms-113	48	14	and	and	CCONJ
aijbms-113	48	15	myers	myers	PROPN
aijbms-113	48	16	(	(	PUNCT
aijbms-113	48	17	1999	1999	NUM
aijbms-113	48	18	)	)	PUNCT
aijbms-113	48	19	,	,	PUNCT
aijbms-113	48	20	that	that	SCONJ
aijbms-113	48	21	the	the	DET
aijbms-113	48	22	financing	financing	NOUN
aijbms-113	48	23	deficit	deficit	NOUN
aijbms-113	48	24	should	should	AUX
aijbms-113	48	25	normally	normally	ADV
aijbms-113	48	26	be	be	AUX
aijbms-113	48	27	matched	match	VERB
aijbms-113	48	28	dollar	dollar	NOUN
aijbms-113	48	29	-	-	PUNCT
aijbms-113	48	30	for	for	ADP
aijbms-113	48	31	-	-	PUNCT
aijbms-113	48	32	dollar	dollar	NOUN
aijbms-113	48	33	by	by	ADP
aijbms-113	48	34	a	a	DET
aijbms-113	48	35	change	change	NOUN
aijbms-113	48	36	in	in	ADP
aijbms-113	48	37	corporate	corporate	ADJ
aijbms-113	48	38	debt	debt	NOUN
aijbms-113	48	39	.	.	PUNCT
aijbms-113	49	1	as	as	ADP
aijbms-113	49	2	a	a	DET
aijbms-113	49	3	result	result	NOUN
aijbms-113	49	4	,	,	PUNCT
aijbms-113	49	5	if	if	SCONJ
aijbms-113	49	6	firms	firm	NOUN
aijbms-113	49	7	follow	follow	VERB
aijbms-113	49	8	the	the	DET
aijbms-113	49	9	pecking	pecking	NOUN
aijbms-113	49	10	order	order	NOUN
aijbms-113	49	11	,	,	PUNCT
aijbms-113	49	12	then	then	ADV
aijbms-113	49	13	in	in	ADP
aijbms-113	49	14	a	a	DET
aijbms-113	49	15	regression	regression	NOUN
aijbms-113	49	16	of	of	ADP
aijbms-113	49	17	net	net	ADJ
aijbms-113	49	18	debt	debt	NOUN
aijbms-113	49	19	issues	issue	NOUN
aijbms-113	49	20	on	on	ADP
aijbms-113	49	21	the	the	DET
aijbms-113	49	22	financing	financing	NOUN
aijbms-113	49	23	deficit	deficit	NOUN
aijbms-113	49	24	,	,	PUNCT
aijbms-113	49	25	a	a	DET
aijbms-113	49	26	slope	slope	NOUN
aijbms-113	49	27	coefficient	coefficient	NOUN
aijbms-113	49	28	of	of	ADP
aijbms-113	49	29	one	one	NUM
aijbms-113	49	30	is	be	AUX
aijbms-113	49	31	observed	observe	VERB
aijbms-113	49	32	.	.	PUNCT
aijbms-113	50	1	fama	fama	PROPN
aijbms-113	50	2	and	and	CCONJ
aijbms-113	50	3	french	french	ADJ
aijbms-113	50	4	(	(	PUNCT
aijbms-113	50	5	2002	2002	NUM
aijbms-113	50	6	)	)	PUNCT
aijbms-113	50	7	tested	test	VERB
aijbms-113	50	8	some	some	DET
aijbms-113	50	9	qualitative	qualitative	ADJ
aijbms-113	50	10	predictions	prediction	NOUN
aijbms-113	50	11	of	of	ADP
aijbms-113	50	12	the	the	DET
aijbms-113	50	13	pecking	pecking	NOUN
aijbms-113	50	14	order	order	NOUN
aijbms-113	50	15	theory	theory	NOUN
aijbms-113	50	16	as	as	ADP
aijbms-113	50	17	against	against	ADP
aijbms-113	50	18	the	the	DET
aijbms-113	50	19	qualitative	qualitative	ADJ
aijbms-113	50	20	predictions	prediction	NOUN
aijbms-113	50	21	of	of	ADP
aijbms-113	50	22	the	the	DET
aijbms-113	50	23	tradeoff	tradeoff	NOUN
aijbms-113	50	24	model	model	NOUN
aijbms-113	50	25	.	.	PUNCT
aijbms-113	51	1	in	in	ADP
aijbms-113	51	2	their	their	PRON
aijbms-113	51	3	findings	finding	NOUN
aijbms-113	51	4	,	,	PUNCT
aijbms-113	51	5	they	they	PRON
aijbms-113	51	6	suggested	suggest	VERB
aijbms-113	51	7	that	that	SCONJ
aijbms-113	51	8	more	more	ADV
aijbms-113	51	9	profitable	profitable	ADJ
aijbms-113	51	10	firms	firm	NOUN
aijbms-113	51	11	are	be	AUX
aijbms-113	51	12	less	less	ADV
aijbms-113	51	13	levered	lever	VERB
aijbms-113	51	14	and	and	CCONJ
aijbms-113	51	15	it	it	PRON
aijbms-113	51	16	is	be	AUX
aijbms-113	51	17	consistent	consistent	ADJ
aijbms-113	51	18	with	with	ADP
aijbms-113	51	19	the	the	DET
aijbms-113	51	20	pecking	pecking	NOUN
aijbms-113	51	21	order	order	NOUN
aijbms-113	51	22	.	.	PUNCT
aijbms-113	52	1	and	and	CCONJ
aijbms-113	52	2	also	also	ADV
aijbms-113	52	3	,	,	PUNCT
aijbms-113	52	4	those	those	DET
aijbms-113	52	5	firms	firm	NOUN
aijbms-113	52	6	with	with	ADP
aijbms-113	52	7	greater	great	ADJ
aijbms-113	52	8	investment	investment	NOUN
aijbms-113	52	9	opportunities	opportunity	NOUN
aijbms-113	52	10	are	be	AUX
aijbms-113	52	11	less	less	ADV
aijbms-113	52	12	levered	lever	VERB
aijbms-113	52	13	as	as	SCONJ
aijbms-113	52	14	predicted	predict	VERB
aijbms-113	52	15	by	by	ADP
aijbms-113	52	16	the	the	DET
aijbms-113	52	17	tradeoff	tradeoff	NOUN
aijbms-113	52	18	theory	theory	NOUN
aijbms-113	52	19	.	.	PUNCT
aijbms-113	53	1	www.acseusa.org/journal/index.php/aijbms	www.acseusa.org/journal/index.php/aijbms	PROPN
aijbms-113	53	2	american	american	PROPN
aijbms-113	53	3	international	international	PROPN
aijbms-113	53	4	journal	journal	PROPN
aijbms-113	53	5	of	of	ADP
aijbms-113	53	6	business	business	NOUN
aijbms-113	53	7	and	and	CCONJ
aijbms-113	53	8	management	management	NOUN
aijbms-113	53	9	studies	study	NOUN
aijbms-113	53	10	vol	vol	NOUN
aijbms-113	53	11	.	.	PROPN
aijbms-113	54	1	1	1	NUM
aijbms-113	54	2	,	,	PUNCT
aijbms-113	54	3	no	no	INTJ
aijbms-113	54	4	.	.	NOUN
aijbms-113	54	5	1	1	NUM
aijbms-113	54	6	;	;	PUNCT
aijbms-113	54	7	2019	2019	NUM
aijbms-113	54	8	50	50	NUM
aijbms-113	54	9	the	the	DET
aijbms-113	54	10	trade	trade	NOUN
aijbms-113	54	11	-	-	PUNCT
aijbms-113	54	12	off	off	ADP
aijbms-113	54	13	theory	theory	NOUN
aijbms-113	54	14	refers	refer	VERB
aijbms-113	54	15	to	to	ADP
aijbms-113	54	16	the	the	DET
aijbms-113	54	17	idea	idea	NOUN
aijbms-113	54	18	that	that	SCONJ
aijbms-113	54	19	a	a	DET
aijbms-113	54	20	company	company	NOUN
aijbms-113	54	21	chooses	choose	VERB
aijbms-113	54	22	how	how	SCONJ
aijbms-113	54	23	much	much	ADJ
aijbms-113	54	24	debt	debt	NOUN
aijbms-113	54	25	finance	finance	NOUN
aijbms-113	54	26	and	and	CCONJ
aijbms-113	54	27	how	how	SCONJ
aijbms-113	54	28	much	much	ADJ
aijbms-113	54	29	equity	equity	NOUN
aijbms-113	54	30	finance	finance	NOUN
aijbms-113	54	31	to	to	PART
aijbms-113	54	32	use	use	VERB
aijbms-113	54	33	by	by	ADP
aijbms-113	54	34	balancing	balance	VERB
aijbms-113	54	35	the	the	DET
aijbms-113	54	36	costs	cost	NOUN
aijbms-113	54	37	and	and	CCONJ
aijbms-113	54	38	benefits	benefit	NOUN
aijbms-113	54	39	.	.	PUNCT
aijbms-113	55	1	trade	trade	NOUN
aijbms-113	55	2	-	-	PUNCT
aijbms-113	55	3	off	off	ADP
aijbms-113	55	4	theory	theory	NOUN
aijbms-113	55	5	allows	allow	VERB
aijbms-113	55	6	the	the	DET
aijbms-113	55	7	bankruptcy	bankruptcy	NOUN
aijbms-113	55	8	cost	cost	NOUN
aijbms-113	55	9	to	to	PART
aijbms-113	55	10	exist	exist	VERB
aijbms-113	55	11	.	.	PUNCT
aijbms-113	56	1	it	it	PRON
aijbms-113	56	2	states	state	VERB
aijbms-113	56	3	that	that	SCONJ
aijbms-113	56	4	there	there	PRON
aijbms-113	56	5	is	be	VERB
aijbms-113	56	6	an	an	DET
aijbms-113	56	7	advantage	advantage	NOUN
aijbms-113	56	8	to	to	ADP
aijbms-113	56	9	financing	financing	NOUN
aijbms-113	56	10	with	with	ADP
aijbms-113	56	11	debt	debt	NOUN
aijbms-113	56	12	(	(	PUNCT
aijbms-113	56	13	namely	namely	ADV
aijbms-113	56	14	,	,	PUNCT
aijbms-113	56	15	the	the	DET
aijbms-113	56	16	tax	tax	NOUN
aijbms-113	56	17	benefit	benefit	NOUN
aijbms-113	56	18	)	)	PUNCT
aijbms-113	56	19	and	and	CCONJ
aijbms-113	56	20	that	that	SCONJ
aijbms-113	56	21	there	there	PRON
aijbms-113	56	22	is	be	VERB
aijbms-113	56	23	a	a	DET
aijbms-113	56	24	cost	cost	NOUN
aijbms-113	56	25	of	of	ADP
aijbms-113	56	26	financing	financing	NOUN
aijbms-113	56	27	with	with	ADP
aijbms-113	56	28	debt	debt	NOUN
aijbms-113	56	29	(	(	PUNCT
aijbms-113	56	30	the	the	DET
aijbms-113	56	31	bankruptcy	bankruptcy	NOUN
aijbms-113	56	32	costs	cost	NOUN
aijbms-113	56	33	and	and	CCONJ
aijbms-113	56	34	the	the	DET
aijbms-113	56	35	financial	financial	ADJ
aijbms-113	56	36	distress	distress	NOUN
aijbms-113	56	37	costs	cost	NOUN
aijbms-113	56	38	of	of	ADP
aijbms-113	56	39	debt	debt	NOUN
aijbms-113	56	40	)	)	PUNCT
aijbms-113	56	41	.	.	PUNCT
aijbms-113	57	1	the	the	DET
aijbms-113	57	2	marginal	marginal	ADJ
aijbms-113	57	3	benefit	benefit	NOUN
aijbms-113	57	4	of	of	ADP
aijbms-113	57	5	further	further	ADJ
aijbms-113	57	6	increases	increase	NOUN
aijbms-113	57	7	in	in	ADP
aijbms-113	57	8	debt	debt	NOUN
aijbms-113	57	9	declines	decline	NOUN
aijbms-113	57	10	as	as	ADP
aijbms-113	57	11	debt	debt	NOUN
aijbms-113	57	12	increases	increase	NOUN
aijbms-113	57	13	,	,	PUNCT
aijbms-113	57	14	while	while	SCONJ
aijbms-113	57	15	the	the	DET
aijbms-113	57	16	marginal	marginal	ADJ
aijbms-113	57	17	cost	cost	NOUN
aijbms-113	57	18	increases	increase	NOUN
aijbms-113	57	19	,	,	PUNCT
aijbms-113	57	20	so	so	SCONJ
aijbms-113	57	21	that	that	SCONJ
aijbms-113	57	22	a	a	DET
aijbms-113	57	23	firm	firm	NOUN
aijbms-113	57	24	that	that	PRON
aijbms-113	57	25	is	be	AUX
aijbms-113	57	26	optimizing	optimize	VERB
aijbms-113	57	27	its	its	PRON
aijbms-113	57	28	overall	overall	ADJ
aijbms-113	57	29	value	value	NOUN
aijbms-113	57	30	will	will	AUX
aijbms-113	57	31	focus	focus	VERB
aijbms-113	57	32	on	on	ADP
aijbms-113	57	33	this	this	DET
aijbms-113	57	34	trade	trade	NOUN
aijbms-113	57	35	-	-	PUNCT
aijbms-113	57	36	off	off	NOUN
aijbms-113	57	37	when	when	SCONJ
aijbms-113	57	38	choosing	choose	VERB
aijbms-113	57	39	how	how	SCONJ
aijbms-113	57	40	much	much	ADJ
aijbms-113	57	41	debt	debt	NOUN
aijbms-113	57	42	and	and	CCONJ
aijbms-113	57	43	equity	equity	NOUN
aijbms-113	57	44	to	to	PART
aijbms-113	57	45	use	use	VERB
aijbms-113	57	46	for	for	ADP
aijbms-113	57	47	financing	financing	NOUN
aijbms-113	57	48	.	.	PUNCT
aijbms-113	58	1	empirically	empirically	ADV
aijbms-113	58	2	,	,	PUNCT
aijbms-113	58	3	this	this	DET
aijbms-113	58	4	theory	theory	NOUN
aijbms-113	58	5	may	may	AUX
aijbms-113	58	6	explain	explain	VERB
aijbms-113	58	7	differences	difference	NOUN
aijbms-113	58	8	in	in	ADP
aijbms-113	58	9	d	d	PROPN
aijbms-113	58	10	/	/	SYM
aijbms-113	58	11	e	e	NOUN
aijbms-113	58	12	ratios	ratio	NOUN
aijbms-113	58	13	between	between	ADP
aijbms-113	58	14	industries	industry	NOUN
aijbms-113	58	15	,	,	PUNCT
aijbms-113	58	16	but	but	CCONJ
aijbms-113	58	17	it	it	PRON
aijbms-113	58	18	does	do	AUX
aijbms-113	58	19	n't	not	PART
aijbms-113	58	20	explain	explain	VERB
aijbms-113	58	21	differences	difference	NOUN
aijbms-113	58	22	within	within	ADP
aijbms-113	58	23	the	the	DET
aijbms-113	58	24	same	same	ADJ
aijbms-113	58	25	industry	industry	NOUN
aijbms-113	58	26	.	.	PUNCT
aijbms-113	59	1	the	the	DET
aijbms-113	59	2	agency	agency	NOUN
aijbms-113	59	3	theory	theory	NOUN
aijbms-113	59	4	concerns	concern	VERB
aijbms-113	59	5	the	the	DET
aijbms-113	59	6	relationship	relationship	NOUN
aijbms-113	59	7	between	between	ADP
aijbms-113	59	8	the	the	DET
aijbms-113	59	9	principal	principal	NOUN
aijbms-113	59	10	(	(	PUNCT
aijbms-113	59	11	shareholders	shareholder	NOUN
aijbms-113	59	12	)	)	PUNCT
aijbms-113	59	13	and	and	CCONJ
aijbms-113	59	14	the	the	DET
aijbms-113	59	15	agent	agent	NOUN
aijbms-113	59	16	of	of	ADP
aijbms-113	59	17	the	the	DET
aijbms-113	59	18	principal	principal	NOUN
aijbms-113	59	19	.	.	PUNCT
aijbms-113	60	1	this	this	PRON
aijbms-113	60	2	suggests	suggest	VERB
aijbms-113	60	3	that	that	SCONJ
aijbms-113	60	4	the	the	DET
aijbms-113	60	5	firm	firm	NOUN
aijbms-113	60	6	can	can	AUX
aijbms-113	60	7	be	be	AUX
aijbms-113	60	8	viewed	view	VERB
aijbms-113	60	9	as	as	ADP
aijbms-113	60	10	a	a	DET
aijbms-113	60	11	nexus	nexus	NOUN
aijbms-113	60	12	of	of	ADP
aijbms-113	60	13	contracts	contract	NOUN
aijbms-113	60	14	(	(	PUNCT
aijbms-113	60	15	loosely	loosely	ADV
aijbms-113	60	16	defined	define	VERB
aijbms-113	60	17	)	)	PUNCT
aijbms-113	60	18	between	between	ADP
aijbms-113	60	19	resource	resource	NOUN
aijbms-113	60	20	holders	holder	NOUN
aijbms-113	60	21	.	.	PUNCT
aijbms-113	61	1	an	an	DET
aijbms-113	61	2	agency	agency	NOUN
aijbms-113	61	3	relationship	relationship	NOUN
aijbms-113	61	4	arises	arise	VERB
aijbms-113	61	5	whenever	whenever	SCONJ
aijbms-113	61	6	one	one	NUM
aijbms-113	61	7	or	or	CCONJ
aijbms-113	61	8	more	more	ADJ
aijbms-113	61	9	individual	individual	ADJ
aijbms-113	61	10	,	,	PUNCT
aijbms-113	61	11	called	call	VERB
aijbms-113	61	12	principals	principal	NOUN
aijbms-113	61	13	,	,	PUNCT
aijbms-113	61	14	hire	hire	VERB
aijbms-113	61	15	one	one	NUM
aijbms-113	61	16	or	or	CCONJ
aijbms-113	61	17	more	more	ADJ
aijbms-113	61	18	other	other	ADJ
aijbms-113	61	19	individuals	individual	NOUN
aijbms-113	61	20	,	,	PUNCT
aijbms-113	61	21	called	call	VERB
aijbms-113	61	22	agents	agent	NOUN
aijbms-113	61	23	,	,	PUNCT
aijbms-113	61	24	to	to	PART
aijbms-113	61	25	perform	perform	VERB
aijbms-113	61	26	some	some	DET
aijbms-113	61	27	service	service	NOUN
aijbms-113	61	28	and	and	CCONJ
aijbms-113	61	29	then	then	ADV
aijbms-113	61	30	delegate	delegate	VERB
aijbms-113	61	31	decision	decision	NOUN
aijbms-113	61	32	-	-	PUNCT
aijbms-113	61	33	making	make	VERB
aijbms-113	61	34	authority	authority	NOUN
aijbms-113	61	35	to	to	ADP
aijbms-113	61	36	the	the	DET
aijbms-113	61	37	agents	agent	NOUN
aijbms-113	61	38	.	.	PUNCT
aijbms-113	62	1	the	the	DET
aijbms-113	62	2	agency	agency	NOUN
aijbms-113	62	3	theory	theory	NOUN
aijbms-113	62	4	concept	concept	NOUN
aijbms-113	62	5	was	be	AUX
aijbms-113	62	6	initially	initially	ADV
aijbms-113	62	7	developed	develop	VERB
aijbms-113	62	8	by	by	ADP
aijbms-113	62	9	berle	berle	NOUN
aijbms-113	62	10	and	and	CCONJ
aijbms-113	62	11	means	mean	NOUN
aijbms-113	62	12	(	(	PUNCT
aijbms-113	62	13	1932	1932	NUM
aijbms-113	62	14	)	)	PUNCT
aijbms-113	62	15	,	,	PUNCT
aijbms-113	62	16	who	who	PRON
aijbms-113	62	17	argued	argue	VERB
aijbms-113	62	18	that	that	SCONJ
aijbms-113	62	19	due	due	ADP
aijbms-113	62	20	to	to	ADP
aijbms-113	62	21	a	a	DET
aijbms-113	62	22	continuous	continuous	ADJ
aijbms-113	62	23	dilution	dilution	NOUN
aijbms-113	62	24	of	of	ADP
aijbms-113	62	25	equity	equity	NOUN
aijbms-113	62	26	ownership	ownership	NOUN
aijbms-113	62	27	of	of	ADP
aijbms-113	62	28	large	large	ADJ
aijbms-113	62	29	corporations	corporation	NOUN
aijbms-113	62	30	,	,	PUNCT
aijbms-113	62	31	ownership	ownership	NOUN
aijbms-113	62	32	and	and	CCONJ
aijbms-113	62	33	control	control	NOUN
aijbms-113	62	34	become	become	VERB
aijbms-113	62	35	more	more	ADV
aijbms-113	62	36	separated	separated	ADJ
aijbms-113	62	37	.	.	PUNCT
aijbms-113	63	1	this	this	DET
aijbms-113	63	2	situation	situation	NOUN
aijbms-113	63	3	gives	give	VERB
aijbms-113	63	4	professional	professional	ADJ
aijbms-113	63	5	managers	manager	NOUN
aijbms-113	63	6	an	an	DET
aijbms-113	63	7	opportunity	opportunity	NOUN
aijbms-113	63	8	to	to	PART
aijbms-113	63	9	pursue	pursue	VERB
aijbms-113	63	10	their	their	PRON
aijbms-113	63	11	interest	interest	NOUN
aijbms-113	63	12	instead	instead	ADV
aijbms-113	63	13	of	of	ADP
aijbms-113	63	14	that	that	PRON
aijbms-113	63	15	of	of	ADP
aijbms-113	63	16	shareholders	shareholder	NOUN
aijbms-113	63	17	jensen	jensen	PROPN
aijbms-113	63	18	and	and	CCONJ
aijbms-113	63	19	runback	runback	PROPN
aijbms-113	63	20	,	,	PUNCT
aijbms-113	63	21	(	(	PUNCT
aijbms-113	63	22	1983	1983	NUM
aijbms-113	63	23	)	)	PUNCT
aijbms-113	63	24	.	.	PUNCT
aijbms-113	64	1	in	in	ADP
aijbms-113	64	2	theory	theory	NOUN
aijbms-113	64	3	,	,	PUNCT
aijbms-113	64	4	shareholders	shareholder	NOUN
aijbms-113	64	5	are	be	AUX
aijbms-113	64	6	the	the	DET
aijbms-113	64	7	only	only	ADJ
aijbms-113	64	8	owners	owner	NOUN
aijbms-113	64	9	of	of	ADP
aijbms-113	64	10	a	a	DET
aijbms-113	64	11	company	company	NOUN
aijbms-113	64	12	,	,	PUNCT
aijbms-113	64	13	and	and	CCONJ
aijbms-113	64	14	the	the	DET
aijbms-113	64	15	task	task	NOUN
aijbms-113	64	16	of	of	ADP
aijbms-113	64	17	its	its	PRON
aijbms-113	64	18	directors	director	NOUN
aijbms-113	64	19	is	be	AUX
aijbms-113	64	20	merely	merely	ADV
aijbms-113	64	21	to	to	PART
aijbms-113	64	22	ensure	ensure	VERB
aijbms-113	64	23	that	that	SCONJ
aijbms-113	64	24	shareholders	shareholder	NOUN
aijbms-113	64	25	’	'	PUNCT
aijbms-113	64	26	interests	interest	NOUN
aijbms-113	64	27	are	be	AUX
aijbms-113	64	28	maximized	maximize	VERB
aijbms-113	64	29	.	.	PUNCT
aijbms-113	65	1	more	more	ADV
aijbms-113	65	2	specifically	specifically	ADV
aijbms-113	65	3	,	,	PUNCT
aijbms-113	65	4	the	the	DET
aijbms-113	65	5	duty	duty	NOUN
aijbms-113	65	6	of	of	ADP
aijbms-113	65	7	directors	director	NOUN
aijbms-113	65	8	is	be	AUX
aijbms-113	65	9	to	to	PART
aijbms-113	65	10	run	run	VERB
aijbms-113	65	11	the	the	DET
aijbms-113	65	12	company	company	NOUN
aijbms-113	65	13	in	in	ADP
aijbms-113	65	14	a	a	DET
aijbms-113	65	15	way	way	NOUN
aijbms-113	65	16	which	which	PRON
aijbms-113	65	17	maximizes	maximize	VERB
aijbms-113	65	18	the	the	DET
aijbms-113	65	19	long	long	ADJ
aijbms-113	65	20	term	term	NOUN
aijbms-113	65	21	return	return	NOUN
aijbms-113	65	22	to	to	ADP
aijbms-113	65	23	the	the	DET
aijbms-113	65	24	shareholders	shareholder	NOUN
aijbms-113	65	25	,	,	PUNCT
aijbms-113	65	26	and	and	CCONJ
aijbms-113	65	27	thus	thus	ADV
aijbms-113	65	28	maximizes	maximize	VERB
aijbms-113	65	29	the	the	DET
aijbms-113	65	30	company	company	NOUN
aijbms-113	65	31	’s	’s	PART
aijbms-113	65	32	profit	profit	NOUN
aijbms-113	65	33	and	and	CCONJ
aijbms-113	65	34	cash	cash	NOUN
aijbms-113	65	35	flow	flow	NOUN
aijbms-113	65	36	elliot	elliot	NOUN
aijbms-113	65	37	,	,	PUNCT
aijbms-113	65	38	(	(	PUNCT
aijbms-113	65	39	2002	2002	NUM
aijbms-113	65	40	)	)	PUNCT
aijbms-113	65	41	.	.	PUNCT
aijbms-113	66	1	the	the	DET
aijbms-113	66	2	free	free	ADJ
aijbms-113	66	3	cash	cash	NOUN
aijbms-113	66	4	flow	flow	NOUN
aijbms-113	66	5	(	(	PUNCT
aijbms-113	66	6	fcf	fcf	NOUN
aijbms-113	66	7	)	)	PUNCT
aijbms-113	66	8	theory	theory	NOUN
aijbms-113	66	9	considers	consider	VERB
aijbms-113	66	10	the	the	DET
aijbms-113	66	11	internal	internal	ADJ
aijbms-113	66	12	source	source	NOUN
aijbms-113	66	13	of	of	ADP
aijbms-113	66	14	a	a	DET
aijbms-113	66	15	firm	firm	NOUN
aijbms-113	66	16	’s	’s	PART
aijbms-113	66	17	funds	fund	NOUN
aijbms-113	66	18	.	.	PUNCT
aijbms-113	67	1	however	however	ADV
aijbms-113	67	2	,	,	PUNCT
aijbms-113	67	3	fcf	fcf	PROPN
aijbms-113	67	4	has	have	VERB
aijbms-113	67	5	costs	cost	NOUN
aijbms-113	67	6	associated	associate	VERB
aijbms-113	67	7	with	with	ADP
aijbms-113	67	8	the	the	DET
aijbms-113	67	9	way	way	NOUN
aijbms-113	67	10	firms	firm	NOUN
aijbms-113	67	11	’	’	PART
aijbms-113	67	12	managers	manager	NOUN
aijbms-113	67	13	’	'	PUNCT
aijbms-113	67	14	deal	deal	NOUN
aijbms-113	67	15	with	with	ADP
aijbms-113	67	16	fcf	fcf	PROPN
aijbms-113	67	17	.	.	PUNCT
aijbms-113	68	1	the	the	DET
aijbms-113	68	2	focus	focus	NOUN
aijbms-113	68	3	of	of	ADP
aijbms-113	68	4	the	the	DET
aijbms-113	68	5	fcf	fcf	PROPN
aijbms-113	68	6	theory	theory	NOUN
aijbms-113	68	7	is	be	AUX
aijbms-113	68	8	how	how	SCONJ
aijbms-113	68	9	to	to	PART
aijbms-113	68	10	balance	balance	VERB
aijbms-113	68	11	cash	cash	NOUN
aijbms-113	68	12	flow	flow	NOUN
aijbms-113	68	13	and	and	CCONJ
aijbms-113	68	14	the	the	DET
aijbms-113	68	15	costs	cost	NOUN
aijbms-113	68	16	of	of	ADP
aijbms-113	68	17	fcf	fcf	PROPN
aijbms-113	68	18	.	.	PUNCT
aijbms-113	69	1	scott	scott	PROPN
aijbms-113	69	2	(	(	PUNCT
aijbms-113	69	3	1981	1981	NUM
aijbms-113	69	4	)	)	PUNCT
aijbms-113	69	5	stated	state	VERB
aijbms-113	69	6	that	that	SCONJ
aijbms-113	69	7	if	if	SCONJ
aijbms-113	69	8	a	a	DET
aijbms-113	69	9	firm	firm	NOUN
aijbms-113	69	10	has	have	VERB
aijbms-113	69	11	enough	enough	ADJ
aijbms-113	69	12	cash	cash	NOUN
aijbms-113	69	13	flow	flow	NOUN
aijbms-113	69	14	to	to	PART
aijbms-113	69	15	pay	pay	VERB
aijbms-113	69	16	for	for	ADP
aijbms-113	69	17	their	their	PRON
aijbms-113	69	18	expenses	expense	NOUN
aijbms-113	69	19	,	,	PUNCT
aijbms-113	69	20	particularly	particularly	ADV
aijbms-113	69	21	debt	debt	NOUN
aijbms-113	69	22	,	,	PUNCT
aijbms-113	69	23	it	it	PRON
aijbms-113	69	24	will	will	AUX
aijbms-113	69	25	be	be	AUX
aijbms-113	69	26	able	able	ADJ
aijbms-113	69	27	to	to	PART
aijbms-113	69	28	survive	survive	VERB
aijbms-113	69	29	.	.	PUNCT
aijbms-113	70	1	he	he	PRON
aijbms-113	70	2	argued	argue	VERB
aijbms-113	70	3	that	that	SCONJ
aijbms-113	70	4	firms	firm	NOUN
aijbms-113	70	5	’	'	PUNCT
aijbms-113	70	6	managers	manager	NOUN
aijbms-113	70	7	will	will	AUX
aijbms-113	70	8	be	be	AUX
aijbms-113	70	9	able	able	ADJ
aijbms-113	70	10	to	to	PART
aijbms-113	70	11	use	use	VERB
aijbms-113	70	12	the	the	DET
aijbms-113	70	13	firm	firm	NOUN
aijbms-113	70	14	’s	’s	PART
aijbms-113	70	15	history	history	NOUN
aijbms-113	70	16	of	of	ADP
aijbms-113	70	17	cash	cash	NOUN
aijbms-113	70	18	flows	flow	NOUN
aijbms-113	70	19	to	to	PART
aijbms-113	70	20	predict	predict	VERB
aijbms-113	70	21	the	the	DET
aijbms-113	70	22	firm	firm	NOUN
aijbms-113	70	23	’s	’s	PART
aijbms-113	70	24	health	health	NOUN
aijbms-113	70	25	and	and	CCONJ
aijbms-113	70	26	future	future	ADJ
aijbms-113	70	27	performance	performance	NOUN
aijbms-113	70	28	.	.	PUNCT
aijbms-113	71	1	he	he	PRON
aijbms-113	71	2	linked	link	VERB
aijbms-113	71	3	this	this	PRON
aijbms-113	71	4	with	with	ADP
aijbms-113	71	5	the	the	DET
aijbms-113	71	6	ability	ability	NOUN
aijbms-113	71	7	of	of	ADP
aijbms-113	71	8	current	current	ADJ
aijbms-113	71	9	cash	cash	NOUN
aijbms-113	71	10	flows	flow	NOUN
aijbms-113	71	11	to	to	PART
aijbms-113	71	12	predict	predict	VERB
aijbms-113	71	13	future	future	ADJ
aijbms-113	71	14	financing	financing	NOUN
aijbms-113	71	15	status	status	NOUN
aijbms-113	71	16	.	.	PUNCT
aijbms-113	72	1	jensen	jensen	PROPN
aijbms-113	72	2	(	(	PUNCT
aijbms-113	72	3	1986	1986	NUM
aijbms-113	72	4	)	)	PUNCT
aijbms-113	72	5	introduced	introduce	VERB
aijbms-113	72	6	the	the	DET
aijbms-113	72	7	fcf	fcf	PROPN
aijbms-113	72	8	theory	theory	NOUN
aijbms-113	72	9	and	and	CCONJ
aijbms-113	72	10	its	its	PRON
aijbms-113	72	11	relationship	relationship	NOUN
aijbms-113	72	12	with	with	ADP
aijbms-113	72	13	agency	agency	NOUN
aijbms-113	72	14	costs	cost	NOUN
aijbms-113	72	15	.	.	PUNCT
aijbms-113	73	1	he	he	PRON
aijbms-113	73	2	clarified	clarify	VERB
aijbms-113	73	3	the	the	DET
aijbms-113	73	4	effect	effect	NOUN
aijbms-113	73	5	of	of	ADP
aijbms-113	73	6	cash	cash	NOUN
aijbms-113	73	7	flow	flow	NOUN
aijbms-113	73	8	and	and	CCONJ
aijbms-113	73	9	fcf	fcf	NOUN
aijbms-113	73	10	on	on	ADP
aijbms-113	73	11	firms	firm	NOUN
aijbms-113	73	12	’	’	PART
aijbms-113	73	13	performance	performance	NOUN
aijbms-113	73	14	.	.	PUNCT
aijbms-113	74	1	he	he	PRON
aijbms-113	74	2	argued	argue	VERB
aijbms-113	74	3	that	that	SCONJ
aijbms-113	74	4	even	even	ADV
aijbms-113	74	5	if	if	SCONJ
aijbms-113	74	6	cash	cash	NOUN
aijbms-113	74	7	flow	flow	NOUN
aijbms-113	74	8	has	have	VERB
aijbms-113	74	9	a	a	DET
aijbms-113	74	10	positive	positive	ADJ
aijbms-113	74	11	effect	effect	NOUN
aijbms-113	74	12	on	on	ADP
aijbms-113	74	13	corporate	corporate	ADJ
aijbms-113	74	14	performance	performance	NOUN
aijbms-113	74	15	,	,	PUNCT
aijbms-113	74	16	fcf	fcf	PROPN
aijbms-113	74	17	might	might	AUX
aijbms-113	74	18	have	have	VERB
aijbms-113	74	19	a	a	DET
aijbms-113	74	20	negative	negative	ADJ
aijbms-113	74	21	effect	effect	NOUN
aijbms-113	74	22	on	on	ADP
aijbms-113	74	23	corporate	corporate	ADJ
aijbms-113	74	24	performance	performance	NOUN
aijbms-113	74	25	.	.	PUNCT
aijbms-113	75	1	in	in	ADP
aijbms-113	75	2	the	the	DET
aijbms-113	75	3	case	case	NOUN
aijbms-113	75	4	of	of	ADP
aijbms-113	75	5	fcf	fcf	NOUN
aijbms-113	75	6	,	,	PUNCT
aijbms-113	75	7	a	a	DET
aijbms-113	75	8	firm	firm	NOUN
aijbms-113	75	9	’s	’s	PART
aijbms-113	75	10	manager	manager	NOUN
aijbms-113	75	11	might	might	AUX
aijbms-113	75	12	waste	waste	VERB
aijbms-113	75	13	it	it	PRON
aijbms-113	75	14	or	or	CCONJ
aijbms-113	75	15	and	and	CCONJ
aijbms-113	75	16	invest	invest	VERB
aijbms-113	75	17	it	it	PRON
aijbms-113	75	18	in	in	ADP
aijbms-113	75	19	negative	negative	ADJ
aijbms-113	75	20	net	net	ADJ
aijbms-113	75	21	present	present	ADJ
aijbms-113	75	22	value	value	NOUN
aijbms-113	75	23	(	(	PUNCT
aijbms-113	75	24	npv	npv	NOUN
aijbms-113	75	25	)	)	PUNCT
aijbms-113	75	26	projects	project	NOUN
aijbms-113	75	27	.	.	PUNCT
aijbms-113	76	1	the	the	DET
aijbms-113	76	2	role	role	NOUN
aijbms-113	76	3	of	of	ADP
aijbms-113	76	4	debt	debt	NOUN
aijbms-113	76	5	in	in	ADP
aijbms-113	76	6	reducing	reduce	VERB
aijbms-113	76	7	the	the	DET
aijbms-113	76	8	costs	cost	NOUN
aijbms-113	76	9	of	of	ADP
aijbms-113	76	10	fcf	fcf	NOUN
aijbms-113	76	11	was	be	AUX
aijbms-113	76	12	first	first	ADV
aijbms-113	76	13	explained	explain	VERB
aijbms-113	76	14	by	by	ADP
aijbms-113	76	15	harris	harris	PROPN
aijbms-113	76	16	and	and	CCONJ
aijbms-113	76	17	raviv	raviv	PROPN
aijbms-113	76	18	(	(	PUNCT
aijbms-113	76	19	1990	1990	NUM
aijbms-113	76	20	)	)	PUNCT
aijbms-113	76	21	.	.	PUNCT
aijbms-113	77	1	debt	debt	NOUN
aijbms-113	77	2	can	can	AUX
aijbms-113	77	3	reduce	reduce	VERB
aijbms-113	77	4	the	the	DET
aijbms-113	77	5	agency	agency	NOUN
aijbms-113	77	6	costs	cost	NOUN
aijbms-113	77	7	of	of	ADP
aijbms-113	77	8	fcf	fcf	NOUN
aijbms-113	77	9	because	because	SCONJ
aijbms-113	77	10	debt	debt	NOUN
aijbms-113	77	11	financing	financing	NOUN
aijbms-113	77	12	ensures	ensure	VERB
aijbms-113	77	13	that	that	SCONJ
aijbms-113	77	14	management	management	NOUN
aijbms-113	77	15	is	be	AUX
aijbms-113	77	16	restricted	restrict	VERB
aijbms-113	77	17	to	to	ADP
aijbms-113	77	18	making	make	VERB
aijbms-113	77	19	efficient	efficient	ADJ
aijbms-113	77	20	investment	investment	NOUN
aijbms-113	77	21	decisions	decision	NOUN
aijbms-113	77	22	.	.	PUNCT
aijbms-113	78	1	furthermore	furthermore	ADV
aijbms-113	78	2	,	,	PUNCT
aijbms-113	78	3	debt	debt	NOUN
aijbms-113	78	4	prevents	prevent	VERB
aijbms-113	78	5	managers	manager	NOUN
aijbms-113	78	6	from	from	ADP
aijbms-113	78	7	pursuing	pursue	VERB
aijbms-113	78	8	individual	individual	ADJ
aijbms-113	78	9	objectives	objective	NOUN
aijbms-113	78	10	,	,	PUNCT
aijbms-113	78	11	as	as	SCONJ
aijbms-113	78	12	this	this	PRON
aijbms-113	78	13	would	would	AUX
aijbms-113	78	14	increase	increase	VERB
aijbms-113	78	15	the	the	DET
aijbms-113	78	16	firm	firm	NOUN
aijbms-113	78	17	’s	’s	PART
aijbms-113	78	18	default	default	NOUN
aijbms-113	78	19	.	.	PUNCT
aijbms-113	79	1	as	as	ADP
aijbms-113	79	2	a	a	DET
aijbms-113	79	3	result	result	NOUN
aijbms-113	79	4	,	,	PUNCT
aijbms-113	79	5	according	accord	VERB
aijbms-113	79	6	to	to	ADP
aijbms-113	79	7	this	this	DET
aijbms-113	79	8	theory	theory	NOUN
aijbms-113	79	9	,	,	PUNCT
aijbms-113	79	10	high	high	ADJ
aijbms-113	79	11	leverage	leverage	NOUN
aijbms-113	79	12	would	would	AUX
aijbms-113	79	13	have	have	VERB
aijbms-113	79	14	a	a	DET
aijbms-113	79	15	positive	positive	ADJ
aijbms-113	79	16	relationship	relationship	NOUN
aijbms-113	79	17	with	with	ADP
aijbms-113	79	18	profitability	profitability	NOUN
aijbms-113	79	19	.	.	PUNCT
aijbms-113	80	1	however	however	ADV
aijbms-113	80	2	,	,	PUNCT
aijbms-113	80	3	other	other	ADJ
aijbms-113	80	4	studies	study	NOUN
aijbms-113	80	5	have	have	AUX
aijbms-113	80	6	shown	show	VERB
aijbms-113	80	7	a	a	DET
aijbms-113	80	8	negative	negative	ADJ
aijbms-113	80	9	relationship	relationship	NOUN
aijbms-113	80	10	between	between	ADP
aijbms-113	80	11	debt	debt	NOUN
aijbms-113	80	12	and	and	CCONJ
aijbms-113	80	13	fcf	fcf	NOUN
aijbms-113	80	14	.	.	PROPN
aijbms-113	81	1	for	for	ADP
aijbms-113	81	2	example	example	NOUN
aijbms-113	81	3	,	,	PUNCT
aijbms-113	81	4	hart	hart	PROPN
aijbms-113	81	5	and	and	CCONJ
aijbms-113	81	6	moore	moore	PROPN
aijbms-113	81	7	(	(	PUNCT
aijbms-113	81	8	1995	1995	NUM
aijbms-113	81	9	)	)	PUNCT
aijbms-113	81	10	argued	argue	VERB
aijbms-113	81	11	that	that	SCONJ
aijbms-113	81	12	long	long	ADJ
aijbms-113	81	13	-	-	PUNCT
aijbms-113	81	14	term	term	NOUN
aijbms-113	81	15	debt	debt	NOUN
aijbms-113	81	16	controls	control	VERB
aijbms-113	81	17	the	the	DET
aijbms-113	81	18	ability	ability	NOUN
aijbms-113	81	19	of	of	ADP
aijbms-113	81	20	a	a	DET
aijbms-113	81	21	firm	firm	NOUN
aijbms-113	81	22	’s	’s	PART
aijbms-113	81	23	management	management	NOUN
aijbms-113	81	24	to	to	PART
aijbms-113	81	25	finance	finance	VERB
aijbms-113	81	26	future	future	ADJ
aijbms-113	81	27	investments	investment	NOUN
aijbms-113	81	28	.	.	PUNCT
aijbms-113	82	1	they	they	PRON
aijbms-113	82	2	stated	state	VERB
aijbms-113	82	3	that	that	SCONJ
aijbms-113	82	4	firms	firm	NOUN
aijbms-113	82	5	with	with	ADP
aijbms-113	82	6	high	high	ADJ
aijbms-113	82	7	debt	debt	NOUN
aijbms-113	82	8	will	will	AUX
aijbms-113	82	9	find	find	VERB
aijbms-113	82	10	it	it	PRON
aijbms-113	82	11	hard	hard	ADJ
aijbms-113	82	12	to	to	PART
aijbms-113	82	13	raise	raise	VERB
aijbms-113	82	14	capital	capital	NOUN
aijbms-113	82	15	because	because	SCONJ
aijbms-113	82	16	new	new	ADJ
aijbms-113	82	17	security	security	NOUN
aijbms-113	82	18	holders	holder	NOUN
aijbms-113	82	19	will	will	AUX
aijbms-113	82	20	not	not	PART
aijbms-113	82	21	want	want	VERB
aijbms-113	82	22	to	to	PART
aijbms-113	82	23	have	have	VERB
aijbms-113	82	24	lower	low	ADJ
aijbms-113	82	25	priority	priority	NOUN
aijbms-113	82	26	than	than	ADP
aijbms-113	82	27	existing	exist	VERB
aijbms-113	82	28	creditors	creditor	NOUN
aijbms-113	82	29	.	.	PUNCT
aijbms-113	83	1	firms	firm	NOUN
aijbms-113	83	2	with	with	ADP
aijbms-113	83	3	low	low	ADJ
aijbms-113	83	4	debt	debt	NOUN
aijbms-113	83	5	will	will	AUX
aijbms-113	83	6	attract	attract	VERB
aijbms-113	83	7	new	new	ADJ
aijbms-113	83	8	security	security	NOUN
aijbms-113	83	9	holders	holder	NOUN
aijbms-113	83	10	because	because	SCONJ
aijbms-113	83	11	security	security	NOUN
aijbms-113	83	12	holders	holder	NOUN
aijbms-113	83	13	will	will	AUX
aijbms-113	83	14	be	be	AUX
aijbms-113	83	15	the	the	DET
aijbms-113	83	16	first	first	ADJ
aijbms-113	83	17	priority	priority	NOUN
aijbms-113	83	18	to	to	ADP
aijbms-113	83	19	the	the	DET
aijbms-113	83	20	firm	firm	NOUN
aijbms-113	83	21	.	.	PUNCT
aijbms-113	84	1	hart	hart	PROPN
aijbms-113	84	2	and	and	CCONJ
aijbms-113	84	3	moore	moore	PROPN
aijbms-113	84	4	(	(	PUNCT
aijbms-113	84	5	1995	1995	NUM
aijbms-113	84	6	)	)	PUNCT
aijbms-113	84	7	believed	believe	VERB
aijbms-113	84	8	that	that	SCONJ
aijbms-113	84	9	there	there	PRON
aijbms-113	84	10	is	be	VERB
aijbms-113	84	11	an	an	DET
aijbms-113	84	12	optimal	optimal	ADJ
aijbms-113	84	13	debt	debt	NOUN
aijbms-113	84	14	–	–	PUNCT
aijbms-113	84	15	equity	equity	NOUN
aijbms-113	84	16	ratio	ratio	NOUN
aijbms-113	84	17	and	and	CCONJ
aijbms-113	84	18	mix	mix	NOUN
aijbms-113	84	19	of	of	ADP
aijbms-113	84	20	senior	senior	ADJ
aijbms-113	84	21	and	and	CCONJ
aijbms-113	84	22	junior	junior	ADJ
aijbms-113	84	23	debts	debt	NOUN
aijbms-113	84	24	if	if	SCONJ
aijbms-113	84	25	management	management	NOUN
aijbms-113	84	26	undertakes	undertake	VERB
aijbms-113	84	27	unprofitable	unprofitable	ADJ
aijbms-113	84	28	and	and	CCONJ
aijbms-113	84	29	profitable	profitable	ADJ
aijbms-113	84	30	investments	investment	NOUN
aijbms-113	84	31	.	.	PUNCT
aijbms-113	85	1	the	the	DET
aijbms-113	85	2	market	market	NOUN
aijbms-113	85	3	timing	timing	NOUN
aijbms-113	85	4	theory	theory	NOUN
aijbms-113	85	5	is	be	AUX
aijbms-113	85	6	one	one	NUM
aijbms-113	85	7	of	of	ADP
aijbms-113	85	8	the	the	DET
aijbms-113	85	9	most	most	ADV
aijbms-113	85	10	recent	recent	ADJ
aijbms-113	85	11	theories	theory	NOUN
aijbms-113	85	12	discussing	discuss	VERB
aijbms-113	85	13	capital	capital	NOUN
aijbms-113	85	14	structure	structure	NOUN
aijbms-113	85	15	.	.	PUNCT
aijbms-113	86	1	it	it	PRON
aijbms-113	86	2	suggests	suggest	VERB
aijbms-113	86	3	that	that	SCONJ
aijbms-113	86	4	managers	manager	NOUN
aijbms-113	86	5	,	,	PUNCT
aijbms-113	86	6	depending	depend	VERB
aijbms-113	86	7	on	on	ADP
aijbms-113	86	8	their	their	PRON
aijbms-113	86	9	definition	definition	NOUN
aijbms-113	86	10	of	of	ADP
aijbms-113	86	11	firm	firm	ADJ
aijbms-113	86	12	value	value	NOUN
aijbms-113	86	13	,	,	PUNCT
aijbms-113	86	14	tend	tend	VERB
aijbms-113	86	15	to	to	PART
aijbms-113	86	16	issue	issue	VERB
aijbms-113	86	17	equity	equity	NOUN
aijbms-113	86	18	when	when	SCONJ
aijbms-113	86	19	they	they	PRON
aijbms-113	86	20	feel	feel	VERB
aijbms-113	86	21	that	that	SCONJ
aijbms-113	86	22	the	the	DET
aijbms-113	86	23	market	market	NOUN
aijbms-113	86	24	overvalues	overvalue	VERB
aijbms-113	86	25	their	their	PRON
aijbms-113	86	26	company	company	NOUN
aijbms-113	86	27	(	(	PUNCT
aijbms-113	86	28	boudry	boudry	ADJ
aijbms-113	86	29	,	,	PUNCT
aijbms-113	86	30	kallberg	kallberg	PROPN
aijbms-113	86	31	&	&	CCONJ
aijbms-113	86	32	liu	liu	PROPN
aijbms-113	86	33	2010	2010	NUM
aijbms-113	86	34	)	)	PUNCT
aijbms-113	86	35	.	.	PUNCT
aijbms-113	87	1	baker	baker	PROPN
aijbms-113	87	2	and	and	CCONJ
aijbms-113	87	3	wurgler	wurgler	PROPN
aijbms-113	87	4	(	(	PUNCT
aijbms-113	87	5	2002	2002	NUM
aijbms-113	87	6	)	)	PUNCT
aijbms-113	87	7	examined	examine	VERB
aijbms-113	87	8	the	the	DET
aijbms-113	87	9	effect	effect	NOUN
aijbms-113	87	10	of	of	ADP
aijbms-113	87	11	market	market	NOUN
aijbms-113	87	12	timing	timing	NOUN
aijbms-113	87	13	on	on	ADP
aijbms-113	87	14	capital	capital	NOUN
aijbms-113	87	15	structure	structure	NOUN
aijbms-113	87	16	and	and	CCONJ
aijbms-113	87	17	found	find	VERB
aijbms-113	87	18	that	that	SCONJ
aijbms-113	87	19	low	low	ADJ
aijbms-113	87	20	leverage	leverage	NOUN
aijbms-113	87	21	firms	firm	NOUN
aijbms-113	87	22	are	be	AUX
aijbms-113	87	23	those	those	PRON
aijbms-113	87	24	that	that	PRON
aijbms-113	87	25	raise	raise	VERB
aijbms-113	87	26	funds	fund	NOUN
aijbms-113	87	27	when	when	SCONJ
aijbms-113	87	28	their	their	PRON
aijbms-113	87	29	market	market	NOUN
aijbms-113	87	30	valuations	valuation	NOUN
aijbms-113	87	31	are	be	AUX
aijbms-113	87	32	high	high	ADJ
aijbms-113	87	33	,	,	PUNCT
aijbms-113	87	34	while	while	SCONJ
aijbms-113	87	35	high	high	ADJ
aijbms-113	87	36	leverage	leverage	NOUN
aijbms-113	87	37	firms	firm	NOUN
aijbms-113	87	38	are	be	AUX
aijbms-113	87	39	those	those	PRON
aijbms-113	87	40	that	that	PRON
aijbms-113	87	41	raise	raise	VERB
aijbms-113	87	42	funds	fund	NOUN
aijbms-113	87	43	when	when	SCONJ
aijbms-113	87	44	their	their	PRON
aijbms-113	87	45	market	market	NOUN
aijbms-113	87	46	valuations	valuation	NOUN
aijbms-113	87	47	are	be	AUX
aijbms-113	87	48	low	low	ADJ
aijbms-113	87	49	.	.	PUNCT
aijbms-113	88	1	thus	thus	ADV
aijbms-113	88	2	,	,	PUNCT
aijbms-113	88	3	firms	firm	NOUN
aijbms-113	88	4	with	with	ADP
aijbms-113	88	5	low	low	ADJ
aijbms-113	88	6	leverage	leverage	NOUN
aijbms-113	88	7	are	be	AUX
aijbms-113	88	8	expected	expect	VERB
aijbms-113	88	9	to	to	PART
aijbms-113	88	10	be	be	AUX
aijbms-113	88	11	of	of	ADP
aijbms-113	88	12	high	high	ADJ
aijbms-113	88	13	value	value	NOUN
aijbms-113	88	14	.	.	PUNCT
aijbms-113	89	1	however	however	ADV
aijbms-113	89	2	,	,	PUNCT
aijbms-113	89	3	although	although	SCONJ
aijbms-113	89	4	issuing	issue	VERB
aijbms-113	89	5	equity	equity	NOUN
aijbms-113	89	6	is	be	AUX
aijbms-113	89	7	often	often	ADV
aijbms-113	89	8	a	a	DET
aijbms-113	89	9	result	result	NOUN
aijbms-113	89	10	of	of	ADP
aijbms-113	89	11	good	good	ADJ
aijbms-113	89	12	financial	financial	ADJ
aijbms-113	89	13	performance	performance	NOUN
aijbms-113	89	14	,	,	PUNCT
aijbms-113	89	15	it	it	PRON
aijbms-113	89	16	is	be	AUX
aijbms-113	89	17	not	not	PART
aijbms-113	89	18	necessarily	necessarily	ADV
aijbms-113	89	19	the	the	DET
aijbms-113	89	20	reason	reason	NOUN
aijbms-113	89	21	for	for	ADP
aijbms-113	89	22	better	well	ADJ
aijbms-113	89	23	financial	financial	ADJ
aijbms-113	89	24	performance	performance	NOUN
aijbms-113	89	25	,	,	PUNCT
aijbms-113	89	26	as	as	SCONJ
aijbms-113	89	27	this	this	DET
aijbms-113	89	28	theory	theory	NOUN
aijbms-113	89	29	suggests	suggest	VERB
aijbms-113	89	30	.	.	PUNCT
aijbms-113	90	1	rather	rather	ADV
aijbms-113	90	2	,	,	PUNCT
aijbms-113	90	3	firms	firm	NOUN
aijbms-113	90	4	may	may	AUX
aijbms-113	90	5	use	use	VERB
aijbms-113	90	6	debt	debt	NOUN
aijbms-113	90	7	until	until	SCONJ
aijbms-113	90	8	the	the	DET
aijbms-113	90	9	market	market	NOUN
aijbms-113	90	10	overvalues	overvalue	VERB
aijbms-113	90	11	their	their	PRON
aijbms-113	90	12	firm	firm	NOUN
aijbms-113	90	13	,	,	PUNCT
aijbms-113	90	14	and	and	CCONJ
aijbms-113	90	15	then	then	ADV
aijbms-113	90	16	will	will	AUX
aijbms-113	90	17	issue	issue	VERB
aijbms-113	90	18	equity	equity	NOUN
aijbms-113	90	19	to	to	PART
aijbms-113	90	20	obtain	obtain	VERB
aijbms-113	90	21	benefits	benefit	NOUN
aijbms-113	90	22	from	from	ADP
aijbms-113	90	23	the	the	DET
aijbms-113	90	24	firm	firm	NOUN
aijbms-113	90	25	’s	’s	PART
aijbms-113	90	26	rising	rise	VERB
aijbms-113	90	27	share	share	NOUN
aijbms-113	90	28	price	price	NOUN
aijbms-113	90	29	.	.	PUNCT
aijbms-113	91	1	this	this	DET
aijbms-113	91	2	theory	theory	NOUN
aijbms-113	91	3	contrasts	contrast	VERB
aijbms-113	91	4	with	with	ADP
aijbms-113	91	5	theories	theory	NOUN
aijbms-113	91	6	such	such	ADJ
aijbms-113	91	7	as	as	ADP
aijbms-113	91	8	the	the	DET
aijbms-113	91	9	pecking	pecking	NOUN
aijbms-113	91	10	order	order	NOUN
aijbms-113	91	11	and	and	CCONJ
aijbms-113	91	12	trade	trade	NOUN
aijbms-113	91	13	-	-	PUNCT
aijbms-113	91	14	off	off	ADP
aijbms-113	91	15	theories	theory	NOUN
aijbms-113	91	16	.	.	PUNCT
aijbms-113	92	1	recent	recent	ADJ
aijbms-113	92	2	studies	study	NOUN
aijbms-113	92	3	of	of	ADP
aijbms-113	92	4	mansor	mansor	PROPN
aijbms-113	92	5	and	and	CCONJ
aijbms-113	92	6	bhatti	bhatti	PROPN
aijbms-113	92	7	(	(	PUNCT
aijbms-113	92	8	2011	2011	NUM
aijbms-113	92	9	)	)	PUNCT
aijbms-113	92	10	and	and	CCONJ
aijbms-113	92	11	of	of	ADP
aijbms-113	92	12	mansor	mansor	PROPN
aijbms-113	92	13	,	,	PUNCT
aijbms-113	92	14	bhatti	bhatti	PROPN
aijbms-113	92	15	and	and	CCONJ
aijbms-113	92	16	khan	khan	PROPN
aijbms-113	92	17	(	(	PUNCT
aijbms-113	92	18	2012	2012	NUM
aijbms-113	92	19	)	)	PUNCT
aijbms-113	92	20	have	have	AUX
aijbms-113	92	21	showed	show	VERB
aijbms-113	92	22	that	that	SCONJ
aijbms-113	92	23	the	the	DET
aijbms-113	92	24	reaction	reaction	NOUN
aijbms-113	92	25	of	of	ADP
aijbms-113	92	26	islamic	islamic	ADJ
aijbms-113	92	27	mutual	mutual	ADJ
aijbms-113	92	28	funds	fund	NOUN
aijbms-113	92	29	’	'	PUNCT
aijbms-113	92	30	performance	performance	NOUN
aijbms-113	92	31	relative	relative	ADJ
aijbms-113	92	32	to	to	ADP
aijbms-113	92	33	their	their	PRON
aijbms-113	92	34	conventional	conventional	ADJ
aijbms-113	92	35	peers	peer	NOUN
aijbms-113	92	36	and	and	CCONJ
aijbms-113	92	37	to	to	ADP
aijbms-113	92	38	their	their	PRON
aijbms-113	92	39	benchmarks	benchmark	NOUN
aijbms-113	92	40	either	either	CCONJ
aijbms-113	92	41	in	in	ADP
aijbms-113	92	42	bullish	bullish	ADJ
aijbms-113	92	43	or	or	CCONJ
aijbms-113	92	44	bearish	bearish	ADJ
aijbms-113	92	45	markets	market	NOUN
aijbms-113	92	46	is	be	AUX
aijbms-113	92	47	similar	similar	ADJ
aijbms-113	92	48	.	.	PUNCT
aijbms-113	93	1	during	during	ADP
aijbms-113	93	2	bullish	bullish	ADJ
aijbms-113	93	3	times	time	NOUN
aijbms-113	93	4	,	,	PUNCT
aijbms-113	93	5	they	they	PRON
aijbms-113	93	6	both	both	PRON
aijbms-113	93	7	have	have	VERB
aijbms-113	93	8	positive	positive	ADJ
aijbms-113	93	9	return	return	NOUN
aijbms-113	93	10	,	,	PUNCT
aijbms-113	93	11	but	but	CCONJ
aijbms-113	93	12	during	during	ADP
aijbms-113	93	13	bearish	bearish	ADJ
aijbms-113	93	14	markets	market	NOUN
aijbms-113	93	15	they	they	PRON
aijbms-113	93	16	have	have	AUX
aijbms-113	93	17	www.acseusa.org/journal/index.php/aijbms	www.acseusa.org/journal/index.php/aijbm	VERB
aijbms-113	93	18	american	american	PROPN
aijbms-113	93	19	international	international	PROPN
aijbms-113	93	20	journal	journal	PROPN
aijbms-113	93	21	of	of	ADP
aijbms-113	93	22	business	business	NOUN
aijbms-113	93	23	and	and	CCONJ
aijbms-113	93	24	management	management	NOUN
aijbms-113	93	25	studies	study	NOUN
aijbms-113	93	26	vol	vol	NOUN
aijbms-113	93	27	.	.	PROPN
aijbms-113	94	1	1	1	NUM
aijbms-113	94	2	,	,	PUNCT
aijbms-113	94	3	no	no	INTJ
aijbms-113	94	4	.	.	NOUN
aijbms-113	94	5	1	1	NUM
aijbms-113	94	6	;	;	PUNCT
aijbms-113	94	7	2019	2019	NUM
aijbms-113	94	8	51	51	NUM
aijbms-113	94	9	negative	negative	ADJ
aijbms-113	94	10	returns	return	NOUN
aijbms-113	94	11	.	.	PUNCT
aijbms-113	95	1	however	however	ADV
aijbms-113	95	2	,	,	PUNCT
aijbms-113	95	3	the	the	DET
aijbms-113	95	4	study	study	NOUN
aijbms-113	95	5	of	of	ADP
aijbms-113	95	6	mansor	mansor	PROPN
aijbms-113	95	7	and	and	CCONJ
aijbms-113	95	8	bhatti	bhatti	PROPN
aijbms-113	95	9	(	(	PUNCT
aijbms-113	95	10	2011	2011	NUM
aijbms-113	95	11	)	)	PUNCT
aijbms-113	95	12	has	have	AUX
aijbms-113	95	13	proven	prove	VERB
aijbms-113	95	14	that	that	SCONJ
aijbms-113	95	15	the	the	DET
aijbms-113	95	16	return	return	NOUN
aijbms-113	95	17	performance	performance	NOUN
aijbms-113	95	18	of	of	ADP
aijbms-113	95	19	the	the	DET
aijbms-113	95	20	islamic	islamic	ADJ
aijbms-113	95	21	mutual	mutual	ADJ
aijbms-113	95	22	funds	fund	NOUN
aijbms-113	95	23	is	be	AUX
aijbms-113	95	24	slightly	slightly	ADV
aijbms-113	95	25	better	well	ADJ
aijbms-113	95	26	than	than	ADP
aijbms-113	95	27	the	the	DET
aijbms-113	95	28	return	return	NOUN
aijbms-113	95	29	performance	performance	NOUN
aijbms-113	95	30	of	of	ADP
aijbms-113	95	31	the	the	DET
aijbms-113	95	32	conventional	conventional	ADJ
aijbms-113	95	33	mutual	mutual	ADJ
aijbms-113	95	34	funds	fund	NOUN
aijbms-113	95	35	during	during	ADP
aijbms-113	95	36	the	the	DET
aijbms-113	95	37	bullish	bullish	ADJ
aijbms-113	95	38	market	market	NOUN
aijbms-113	95	39	.	.	PUNCT
aijbms-113	96	1	these	these	DET
aijbms-113	96	2	findings	finding	NOUN
aijbms-113	96	3	support	support	VERB
aijbms-113	96	4	the	the	DET
aijbms-113	96	5	idea	idea	NOUN
aijbms-113	96	6	of	of	ADP
aijbms-113	96	7	market	market	NOUN
aijbms-113	96	8	timing	timing	NOUN
aijbms-113	96	9	theory	theory	NOUN
aijbms-113	96	10	from	from	ADP
aijbms-113	96	11	the	the	DET
aijbms-113	96	12	perspective	perspective	NOUN
aijbms-113	96	13	of	of	ADP
aijbms-113	96	14	financial	financial	ADJ
aijbms-113	96	15	firms	firm	NOUN
aijbms-113	96	16	.	.	PUNCT
aijbms-113	97	1	empirical	empirical	ADJ
aijbms-113	97	2	review	review	PROPN
aijbms-113	97	3	rehman	rehman	NOUN
aijbms-113	97	4	(	(	PUNCT
aijbms-113	97	5	2013	2013	NUM
aijbms-113	97	6	)	)	PUNCT
aijbms-113	97	7	studies	study	NOUN
aijbms-113	97	8	the	the	DET
aijbms-113	97	9	relationship	relationship	NOUN
aijbms-113	97	10	between	between	ADP
aijbms-113	97	11	financial	financial	ADJ
aijbms-113	97	12	leverage	leverage	NOUN
aijbms-113	97	13	and	and	CCONJ
aijbms-113	97	14	financial	financial	ADJ
aijbms-113	97	15	performance	performance	NOUN
aijbms-113	97	16	in	in	ADP
aijbms-113	97	17	listed	list	VERB
aijbms-113	97	18	sugar	sugar	NOUN
aijbms-113	97	19	companies	company	NOUN
aijbms-113	97	20	of	of	ADP
aijbms-113	97	21	pakistan	pakistan	PROPN
aijbms-113	97	22	.	.	PUNCT
aijbms-113	98	1	the	the	DET
aijbms-113	98	2	results	result	NOUN
aijbms-113	98	3	shows	show	VERB
aijbms-113	98	4	positive	positive	ADJ
aijbms-113	98	5	relationship	relationship	NOUN
aijbms-113	98	6	of	of	ADP
aijbms-113	98	7	debt	debt	NOUN
aijbms-113	98	8	equity	equity	NOUN
aijbms-113	98	9	ratio	ratio	NOUN
aijbms-113	98	10	with	with	ADP
aijbms-113	98	11	return	return	NOUN
aijbms-113	98	12	on	on	ADP
aijbms-113	98	13	asset	asset	NOUN
aijbms-113	98	14	and	and	CCONJ
aijbms-113	98	15	sales	sale	NOUN
aijbms-113	98	16	growth	growth	NOUN
aijbms-113	98	17	,	,	PUNCT
aijbms-113	98	18	and	and	CCONJ
aijbms-113	98	19	negative	negative	ADJ
aijbms-113	98	20	relationship	relationship	NOUN
aijbms-113	98	21	of	of	ADP
aijbms-113	98	22	debt	debt	NOUN
aijbms-113	98	23	equity	equity	NOUN
aijbms-113	98	24	ratio	ratio	NOUN
aijbms-113	98	25	with	with	ADP
aijbms-113	98	26	earning	earn	VERB
aijbms-113	98	27	per	per	ADP
aijbms-113	98	28	share	share	NOUN
aijbms-113	98	29	,	,	PUNCT
aijbms-113	98	30	net	net	ADJ
aijbms-113	98	31	profit	profit	NOUN
aijbms-113	98	32	margin	margin	NOUN
aijbms-113	98	33	and	and	CCONJ
aijbms-113	98	34	return	return	VERB
aijbms-113	98	35	on	on	ADP
aijbms-113	98	36	equity	equity	NOUN
aijbms-113	98	37	.	.	PUNCT
aijbms-113	99	1	this	this	DET
aijbms-113	99	2	negative	negative	ADJ
aijbms-113	99	3	relationship	relationship	NOUN
aijbms-113	99	4	between	between	ADP
aijbms-113	99	5	debt	debt	NOUN
aijbms-113	99	6	equity	equity	NOUN
aijbms-113	99	7	ratio	ratio	NOUN
aijbms-113	99	8	and	and	CCONJ
aijbms-113	99	9	earnings	earning	NOUN
aijbms-113	99	10	per	per	ADP
aijbms-113	99	11	share	share	NOUN
aijbms-113	99	12	(	(	PUNCT
aijbms-113	99	13	eps	eps	NOUN
aijbms-113	99	14	)	)	PUNCT
aijbms-113	99	15	support	support	NOUN
aijbms-113	99	16	the	the	DET
aijbms-113	99	17	fact	fact	NOUN
aijbms-113	99	18	that	that	SCONJ
aijbms-113	99	19	as	as	ADP
aijbms-113	99	20	debt	debt	NOUN
aijbms-113	99	21	increases	increase	NOUN
aijbms-113	99	22	,	,	PUNCT
aijbms-113	99	23	the	the	DET
aijbms-113	99	24	interest	interest	NOUN
aijbms-113	99	25	payment	payment	NOUN
aijbms-113	99	26	will	will	AUX
aijbms-113	99	27	also	also	ADV
aijbms-113	99	28	rises	rise	VERB
aijbms-113	99	29	,	,	PUNCT
aijbms-113	99	30	so	so	SCONJ
aijbms-113	99	31	eps	eps	PROPN
aijbms-113	99	32	will	will	AUX
aijbms-113	99	33	decrease	decrease	VERB
aijbms-113	99	34	.	.	PUNCT
aijbms-113	100	1	rajin	rajin	NOUN
aijbms-113	100	2	(	(	PUNCT
aijbms-113	100	3	2012	2012	NUM
aijbms-113	100	4	)	)	PUNCT
aijbms-113	100	5	investigates	investigate	VERB
aijbms-113	100	6	the	the	DET
aijbms-113	100	7	influence	influence	NOUN
aijbms-113	100	8	of	of	ADP
aijbms-113	100	9	financial	financial	ADJ
aijbms-113	100	10	leverage	leverage	NOUN
aijbms-113	100	11	on	on	ADP
aijbms-113	100	12	shareholders	shareholder	NOUN
aijbms-113	100	13	return	return	NOUN
aijbms-113	100	14	and	and	CCONJ
aijbms-113	100	15	market	market	NOUN
aijbms-113	100	16	capitalization	capitalization	NOUN
aijbms-113	100	17	,	,	PUNCT
aijbms-113	100	18	evidence	evidence	NOUN
aijbms-113	100	19	of	of	ADP
aijbms-113	100	20	telecommunication	telecommunication	NOUN
aijbms-113	100	21	sector	sector	NOUN
aijbms-113	100	22	companies	company	NOUN
aijbms-113	100	23	in	in	ADP
aijbms-113	100	24	india	india	PROPN
aijbms-113	100	25	.	.	PUNCT
aijbms-113	101	1	he	he	PRON
aijbms-113	101	2	found	find	VERB
aijbms-113	101	3	out	out	ADP
aijbms-113	101	4	that	that	SCONJ
aijbms-113	101	5	the	the	DET
aijbms-113	101	6	nature	nature	NOUN
aijbms-113	101	7	of	of	ADP
aijbms-113	101	8	relationship	relationship	NOUN
aijbms-113	101	9	and	and	CCONJ
aijbms-113	101	10	the	the	DET
aijbms-113	101	11	state	state	NOUN
aijbms-113	101	12	of	of	ADP
aijbms-113	101	13	influence	influence	NOUN
aijbms-113	101	14	of	of	ADP
aijbms-113	101	15	the	the	DET
aijbms-113	101	16	financial	financial	ADJ
aijbms-113	101	17	leverage	leverage	NOUN
aijbms-113	101	18	on	on	ADP
aijbms-113	101	19	shareholder	shareholder	NOUN
aijbms-113	101	20	’s	’s	PART
aijbms-113	101	21	return	return	NOUN
aijbms-113	101	22	and	and	CCONJ
aijbms-113	101	23	market	market	NOUN
aijbms-113	101	24	capitalization	capitalization	NOUN
aijbms-113	101	25	individually	individually	ADV
aijbms-113	101	26	indicates	indicate	VERB
aijbms-113	101	27	positive	positive	ADJ
aijbms-113	101	28	relationship	relationship	NOUN
aijbms-113	101	29	between	between	ADP
aijbms-113	101	30	financial	financial	ADJ
aijbms-113	101	31	leverage	leverage	NOUN
aijbms-113	101	32	and	and	CCONJ
aijbms-113	101	33	shareholder	shareholder	NOUN
aijbms-113	101	34	return	return	NOUN
aijbms-113	101	35	but	but	CCONJ
aijbms-113	101	36	negative	negative	ADJ
aijbms-113	101	37	relationship	relationship	NOUN
aijbms-113	101	38	between	between	ADP
aijbms-113	101	39	financial	financial	ADJ
aijbms-113	101	40	leverage	leverage	NOUN
aijbms-113	101	41	and	and	CCONJ
aijbms-113	101	42	market	market	NOUN
aijbms-113	101	43	capitalization	capitalization	NOUN
aijbms-113	101	44	.	.	PUNCT
aijbms-113	102	1	ujah	ujah	PROPN
aijbms-113	102	2	and	and	CCONJ
aijbms-113	102	3	brusa	brusa	PROPN
aijbms-113	102	4	(	(	PUNCT
aijbms-113	102	5	2013	2013	NUM
aijbms-113	102	6	)	)	PUNCT
aijbms-113	102	7	suggest	suggest	VERB
aijbms-113	102	8	that	that	SCONJ
aijbms-113	102	9	financial	financial	ADJ
aijbms-113	102	10	leverage	leverage	NOUN
aijbms-113	102	11	and	and	CCONJ
aijbms-113	102	12	cash	cash	NOUN
aijbms-113	102	13	flow	flow	NOUN
aijbms-113	102	14	impact	impact	NOUN
aijbms-113	102	15	the	the	DET
aijbms-113	102	16	degrees	degree	NOUN
aijbms-113	102	17	to	to	PART
aijbms-113	102	18	which	which	PRON
aijbms-113	102	19	firms	firm	NOUN
aijbms-113	102	20	manage	manage	VERB
aijbms-113	102	21	their	their	PRON
aijbms-113	102	22	earnings	earning	NOUN
aijbms-113	102	23	.	.	PUNCT
aijbms-113	103	1	they	they	PRON
aijbms-113	103	2	continue	continue	VERB
aijbms-113	103	3	that	that	SCONJ
aijbms-113	103	4	it	it	PRON
aijbms-113	103	5	depends	depend	VERB
aijbms-113	103	6	on	on	ADP
aijbms-113	103	7	economic	economic	ADJ
aijbms-113	103	8	group	group	NOUN
aijbms-113	103	9	or	or	CCONJ
aijbms-113	103	10	industry	industry	NOUN
aijbms-113	103	11	a	a	DET
aijbms-113	103	12	firm	firm	NOUN
aijbms-113	103	13	belongs	belong	VERB
aijbms-113	103	14	to	to	ADP
aijbms-113	103	15	their	their	PRON
aijbms-113	103	16	degree	degree	NOUN
aijbms-113	103	17	and	and	CCONJ
aijbms-113	103	18	extent	extent	NOUN
aijbms-113	103	19	of	of	ADP
aijbms-113	103	20	managed	manage	VERB
aijbms-113	103	21	earnings	earning	NOUN
aijbms-113	103	22	varies	varie	NOUN
aijbms-113	103	23	.	.	PUNCT
aijbms-113	104	1	obradovich	obradovich	NOUN
aijbms-113	104	2	and	and	CCONJ
aijbms-113	104	3	gill	gill	PROPN
aijbms-113	104	4	(	(	PUNCT
aijbms-113	104	5	2013	2013	NUM
aijbms-113	104	6	)	)	PUNCT
aijbms-113	104	7	indicates	indicate	VERB
aijbms-113	104	8	that	that	SCONJ
aijbms-113	104	9	larger	large	ADJ
aijbms-113	104	10	board	board	NOUN
aijbms-113	104	11	size	size	NOUN
aijbms-113	104	12	negatively	negatively	ADV
aijbms-113	104	13	impacts	impact	VERB
aijbms-113	104	14	the	the	DET
aijbms-113	104	15	value	value	NOUN
aijbms-113	104	16	of	of	ADP
aijbms-113	104	17	american	american	ADJ
aijbms-113	104	18	firms	firm	NOUN
aijbms-113	104	19	and	and	CCONJ
aijbms-113	104	20	ceo	ceo	NOUN
aijbms-113	104	21	duality	duality	NOUN
aijbms-113	104	22	,	,	PUNCT
aijbms-113	104	23	audit	audit	NOUN
aijbms-113	104	24	committee	committee	NOUN
aijbms-113	104	25	,	,	PUNCT
aijbms-113	104	26	financial	financial	ADJ
aijbms-113	104	27	leverage	leverage	NOUN
aijbms-113	104	28	,	,	PUNCT
aijbms-113	104	29	firm	firm	ADJ
aijbms-113	104	30	size	size	NOUN
aijbms-113	104	31	,	,	PUNCT
aijbms-113	104	32	return	return	VERB
aijbms-113	104	33	on	on	ADP
aijbms-113	104	34	assets	asset	NOUN
aijbms-113	104	35	and	and	CCONJ
aijbms-113	104	36	insider	insider	NOUN
aijbms-113	104	37	holdings	holding	NOUN
aijbms-113	104	38	positively	positively	ADV
aijbms-113	104	39	impact	impact	VERB
aijbms-113	104	40	the	the	DET
aijbms-113	104	41	value	value	NOUN
aijbms-113	104	42	of	of	ADP
aijbms-113	104	43	american	american	ADJ
aijbms-113	104	44	firms	firm	NOUN
aijbms-113	104	45	.	.	PUNCT
aijbms-113	105	1	pandey	pandey	PROPN
aijbms-113	105	2	(	(	PUNCT
aijbms-113	105	3	2010	2010	NUM
aijbms-113	105	4	)	)	PUNCT
aijbms-113	105	5	says	say	VERB
aijbms-113	105	6	that	that	SCONJ
aijbms-113	105	7	the	the	DET
aijbms-113	105	8	variance	variance	NOUN
aijbms-113	105	9	and	and	CCONJ
aijbms-113	105	10	covariance	covariance	NOUN
aijbms-113	105	11	and	and	CCONJ
aijbms-113	105	12	therefore	therefore	ADV
aijbms-113	105	13	beta	beta	NOUN
aijbms-113	105	14	depend	depend	VERB
aijbms-113	105	15	on	on	ADP
aijbms-113	105	16	three	three	NUM
aijbms-113	105	17	fundamental	fundamental	ADJ
aijbms-113	105	18	factors	factor	NOUN
aijbms-113	105	19	such	such	ADJ
aijbms-113	105	20	as	as	ADP
aijbms-113	105	21	;	;	PUNCT
aijbms-113	105	22	the	the	DET
aijbms-113	105	23	nature	nature	NOUN
aijbms-113	105	24	of	of	ADP
aijbms-113	105	25	business	business	NOUN
aijbms-113	105	26	,	,	PUNCT
aijbms-113	105	27	the	the	DET
aijbms-113	105	28	operating	operate	VERB
aijbms-113	105	29	leverage	leverage	NOUN
aijbms-113	105	30	and	and	CCONJ
aijbms-113	105	31	financial	financial	ADJ
aijbms-113	105	32	leverage	leverage	NOUN
aijbms-113	105	33	.	.	PUNCT
aijbms-113	106	1	enuju	enuju	ADJ
aijbms-113	106	2	and	and	CCONJ
aijbms-113	106	3	soocheong	soocheong	PROPN
aijbms-113	106	4	(	(	PUNCT
aijbms-113	106	5	2005	2005	NUM
aijbms-113	106	6	)	)	PUNCT
aijbms-113	106	7	examine	examine	VERB
aijbms-113	106	8	the	the	DET
aijbms-113	106	9	effect	effect	NOUN
aijbms-113	106	10	of	of	ADP
aijbms-113	106	11	financial	financial	ADJ
aijbms-113	106	12	leverage	leverage	NOUN
aijbms-113	106	13	on	on	ADP
aijbms-113	106	14	profitability	profitability	NOUN
aijbms-113	106	15	and	and	CCONJ
aijbms-113	106	16	risk	risk	NOUN
aijbms-113	106	17	of	of	ADP
aijbms-113	106	18	restaurant	restaurant	NOUN
aijbms-113	106	19	firms	firm	NOUN
aijbms-113	106	20	.	.	PUNCT
aijbms-113	107	1	they	they	PRON
aijbms-113	107	2	find	find	VERB
aijbms-113	107	3	that	that	SCONJ
aijbms-113	107	4	financial	financial	ADJ
aijbms-113	107	5	leverage	leverage	NOUN
aijbms-113	107	6	does	do	AUX
aijbms-113	107	7	not	not	PART
aijbms-113	107	8	influence	influence	VERB
aijbms-113	107	9	the	the	DET
aijbms-113	107	10	restaurant	restaurant	NOUN
aijbms-113	107	11	firms	firm	NOUN
aijbms-113	107	12	’	’	PART
aijbms-113	107	13	profitability	profitability	NOUN
aijbms-113	107	14	.	.	PUNCT
aijbms-113	108	1	it	it	PRON
aijbms-113	108	2	is	be	AUX
aijbms-113	108	3	noteworthy	noteworthy	ADJ
aijbms-113	108	4	that	that	SCONJ
aijbms-113	108	5	the	the	DET
aijbms-113	108	6	sign	sign	NOUN
aijbms-113	108	7	of	of	ADP
aijbms-113	108	8	financial	financial	ADJ
aijbms-113	108	9	leverage	leverage	NOUN
aijbms-113	108	10	is	be	AUX
aijbms-113	108	11	positive	positive	ADJ
aijbms-113	108	12	meaning	meaning	NOUN
aijbms-113	108	13	that	that	SCONJ
aijbms-113	108	14	more	more	ADV
aijbms-113	108	15	leveraged	leveraged	ADJ
aijbms-113	108	16	firms	firm	NOUN
aijbms-113	108	17	had	have	AUX
aijbms-113	108	18	more	more	ADJ
aijbms-113	108	19	profits	profit	NOUN
aijbms-113	108	20	on	on	ADP
aijbms-113	108	21	average	average	ADJ
aijbms-113	108	22	even	even	ADV
aijbms-113	108	23	though	though	SCONJ
aijbms-113	108	24	it	it	PRON
aijbms-113	108	25	was	be	AUX
aijbms-113	108	26	not	not	PART
aijbms-113	108	27	statistically	statistically	ADV
aijbms-113	108	28	significant	significant	ADJ
aijbms-113	108	29	.	.	PUNCT
aijbms-113	109	1	nazir	nazir	PROPN
aijbms-113	109	2	and	and	CCONJ
aijbms-113	109	3	saita	saita	PROPN
aijbms-113	109	4	(	(	PUNCT
aijbms-113	109	5	2013	2013	NUM
aijbms-113	109	6	)	)	PUNCT
aijbms-113	109	7	studies	study	NOUN
aijbms-113	109	8	financial	financial	ADJ
aijbms-113	109	9	leverage	leverage	NOUN
aijbms-113	109	10	and	and	CCONJ
aijbms-113	109	11	agency	agency	NOUN
aijbms-113	109	12	cost	cost	NOUN
aijbms-113	109	13	,	,	PUNCT
aijbms-113	109	14	an	an	DET
aijbms-113	109	15	empirical	empirical	ADJ
aijbms-113	109	16	evidence	evidence	NOUN
aijbms-113	109	17	of	of	ADP
aijbms-113	109	18	pakistan	pakistan	PROPN
aijbms-113	109	19	.	.	PUNCT
aijbms-113	110	1	the	the	DET
aijbms-113	110	2	study	study	NOUN
aijbms-113	110	3	found	find	VERB
aijbms-113	110	4	out	out	ADP
aijbms-113	110	5	that	that	DET
aijbms-113	110	6	general	general	ADJ
aijbms-113	110	7	and	and	CCONJ
aijbms-113	110	8	admin	admin	ADJ
aijbms-113	110	9	expense	expense	NOUN
aijbms-113	110	10	into	into	ADP
aijbms-113	110	11	to	to	ADP
aijbms-113	110	12	sales	sale	NOUN
aijbms-113	110	13	ratio	ratio	NOUN
aijbms-113	110	14	is	be	AUX
aijbms-113	110	15	negatively	negatively	ADV
aijbms-113	110	16	related	relate	VERB
aijbms-113	110	17	to	to	ADP
aijbms-113	110	18	all	all	DET
aijbms-113	110	19	four	four	NUM
aijbms-113	110	20	leverage	leverage	NOUN
aijbms-113	110	21	ratio	ratio	NOUN
aijbms-113	110	22	.	.	PUNCT
aijbms-113	111	1	taani	taani	PROPN
aijbms-113	111	2	(	(	PUNCT
aijbms-113	111	3	2012	2012	NUM
aijbms-113	111	4	)	)	PUNCT
aijbms-113	111	5	investigates	investigate	VERB
aijbms-113	111	6	impact	impact	NOUN
aijbms-113	111	7	of	of	ADP
aijbms-113	111	8	working	work	VERB
aijbms-113	111	9	capital	capital	NOUN
aijbms-113	111	10	management	management	NOUN
aijbms-113	111	11	policy	policy	NOUN
aijbms-113	111	12	and	and	CCONJ
aijbms-113	111	13	financial	financial	ADJ
aijbms-113	111	14	leverage	leverage	NOUN
aijbms-113	111	15	on	on	ADP
aijbms-113	111	16	financial	financial	ADJ
aijbms-113	111	17	performance	performance	NOUN
aijbms-113	111	18	.	.	PUNCT
aijbms-113	112	1	the	the	DET
aijbms-113	112	2	study	study	NOUN
aijbms-113	112	3	shows	show	VERB
aijbms-113	112	4	that	that	SCONJ
aijbms-113	112	5	firm	firm	NOUN
aijbms-113	112	6	’s	’s	PART
aijbms-113	112	7	working	work	VERB
aijbms-113	112	8	capital	capital	NOUN
aijbms-113	112	9	management	management	NOUN
aijbms-113	112	10	policy	policy	NOUN
aijbms-113	112	11	,	,	PUNCT
aijbms-113	112	12	financial	financial	ADJ
aijbms-113	112	13	leverage	leverage	NOUN
aijbms-113	112	14	and	and	CCONJ
aijbms-113	112	15	firm	firm	ADJ
aijbms-113	112	16	size	size	NOUN
aijbms-113	112	17	have	have	VERB
aijbms-113	112	18	significant	significant	ADJ
aijbms-113	112	19	relation	relation	NOUN
aijbms-113	112	20	to	to	ADP
aijbms-113	112	21	net	net	ADJ
aijbms-113	112	22	income	income	NOUN
aijbms-113	112	23	and	and	CCONJ
aijbms-113	112	24	also	also	ADV
aijbms-113	112	25	no	no	DET
aijbms-113	112	26	significant	significant	ADJ
aijbms-113	112	27	impact	impact	NOUN
aijbms-113	112	28	on	on	ADP
aijbms-113	112	29	return	return	NOUN
aijbms-113	112	30	on	on	ADP
aijbms-113	112	31	equity	equity	NOUN
aijbms-113	112	32	(	(	PUNCT
aijbms-113	112	33	roe	roe	PROPN
aijbms-113	112	34	)	)	PUNCT
aijbms-113	112	35	and	and	CCONJ
aijbms-113	112	36	return	return	VERB
aijbms-113	112	37	on	on	ADP
aijbms-113	112	38	assets	asset	NOUN
aijbms-113	112	39	(	(	PUNCT
aijbms-113	112	40	roa	roa	NOUN
aijbms-113	112	41	)	)	PUNCT
aijbms-113	112	42	.	.	PUNCT
aijbms-113	113	1	akbarian	akbarian	PROPN
aijbms-113	113	2	(	(	PUNCT
aijbms-113	113	3	2013	2013	NUM
aijbms-113	113	4	)	)	PUNCT
aijbms-113	113	5	examines	examine	VERB
aijbms-113	113	6	the	the	DET
aijbms-113	113	7	investigation	investigation	NOUN
aijbms-113	113	8	effect	effect	NOUN
aijbms-113	113	9	of	of	ADP
aijbms-113	113	10	financial	financial	ADJ
aijbms-113	113	11	leverage	leverage	NOUN
aijbms-113	113	12	and	and	CCONJ
aijbms-113	113	13	environment	environment	NOUN
aijbms-113	113	14	risk	risk	NOUN
aijbms-113	113	15	on	on	ADP
aijbms-113	113	16	performance	performance	NOUN
aijbms-113	113	17	of	of	ADP
aijbms-113	113	18	firms	firm	NOUN
aijbms-113	113	19	of	of	ADP
aijbms-113	113	20	listed	list	VERB
aijbms-113	113	21	companies	company	NOUN
aijbms-113	113	22	in	in	ADP
aijbms-113	113	23	tehran	tehran	PROPN
aijbms-113	113	24	stock	stock	PROPN
aijbms-113	113	25	exchange	exchange	PROPN
aijbms-113	113	26	.	.	PUNCT
aijbms-113	114	1	the	the	DET
aijbms-113	114	2	result	result	NOUN
aijbms-113	114	3	shows	show	VERB
aijbms-113	114	4	that	that	SCONJ
aijbms-113	114	5	there	there	PRON
aijbms-113	114	6	is	be	VERB
aijbms-113	114	7	a	a	DET
aijbms-113	114	8	negative	negative	ADJ
aijbms-113	114	9	relation	relation	NOUN
aijbms-113	114	10	between	between	ADP
aijbms-113	114	11	financial	financial	ADJ
aijbms-113	114	12	leverage	leverage	NOUN
aijbms-113	114	13	and	and	CCONJ
aijbms-113	114	14	dividend	dividend	NOUN
aijbms-113	114	15	per	per	ADP
aijbms-113	114	16	share	share	NOUN
aijbms-113	114	17	and	and	CCONJ
aijbms-113	114	18	between	between	ADP
aijbms-113	114	19	market	market	NOUN
aijbms-113	114	20	risk	risk	NOUN
aijbms-113	114	21	and	and	CCONJ
aijbms-113	114	22	economic	economic	ADJ
aijbms-113	114	23	risk	risk	NOUN
aijbms-113	114	24	with	with	ADP
aijbms-113	114	25	free	free	ADJ
aijbms-113	114	26	cash	cash	NOUN
aijbms-113	114	27	flow	flow	NOUN
aijbms-113	114	28	per	per	ADP
aijbms-113	114	29	share	share	NOUN
aijbms-113	114	30	positive	positive	ADJ
aijbms-113	114	31	significant	significant	ADJ
aijbms-113	114	32	.	.	PUNCT
aijbms-113	115	1	it	it	PRON
aijbms-113	115	2	also	also	ADV
aijbms-113	115	3	indicates	indicate	VERB
aijbms-113	115	4	that	that	SCONJ
aijbms-113	115	5	financial	financial	ADJ
aijbms-113	115	6	leverage	leverage	NOUN
aijbms-113	115	7	,	,	PUNCT
aijbms-113	115	8	market	market	NOUN
aijbms-113	115	9	risk	risk	NOUN
aijbms-113	115	10	and	and	CCONJ
aijbms-113	115	11	economic	economic	ADJ
aijbms-113	115	12	risk	risk	NOUN
aijbms-113	115	13	with	with	ADP
aijbms-113	115	14	return	return	NOUN
aijbms-113	115	15	of	of	ADP
aijbms-113	115	16	equity	equity	NOUN
aijbms-113	115	17	have	have	VERB
aijbms-113	115	18	positive	positive	ADJ
aijbms-113	115	19	significant	significant	ADJ
aijbms-113	115	20	relationship	relationship	NOUN
aijbms-113	115	21	.	.	PUNCT
aijbms-113	116	1	alcock	alcock	NOUN
aijbms-113	116	2	,	,	PUNCT
aijbms-113	116	3	et	et	PROPN
aijbms-113	116	4	al	al	PROPN
aijbms-113	116	5	(	(	PUNCT
aijbms-113	116	6	2013	2013	NUM
aijbms-113	116	7	)	)	PUNCT
aijbms-113	116	8	examines	examine	VERB
aijbms-113	116	9	the	the	DET
aijbms-113	116	10	role	role	NOUN
aijbms-113	116	11	of	of	ADP
aijbms-113	116	12	financial	financial	ADJ
aijbms-113	116	13	leverage	leverage	NOUN
aijbms-113	116	14	in	in	ADP
aijbms-113	116	15	the	the	DET
aijbms-113	116	16	performance	performance	NOUN
aijbms-113	116	17	of	of	ADP
aijbms-113	116	18	private	private	ADJ
aijbms-113	116	19	equity	equity	NOUN
aijbms-113	116	20	real	real	ADJ
aijbms-113	116	21	estate	estate	NOUN
aijbms-113	116	22	funds	fund	NOUN
aijbms-113	116	23	.	.	PUNCT
aijbms-113	117	1	the	the	DET
aijbms-113	117	2	results	result	NOUN
aijbms-113	117	3	indicates	indicate	VERB
aijbms-113	117	4	that	that	SCONJ
aijbms-113	117	5	funds	fund	NOUN
aijbms-113	117	6	overall	overall	ADV
aijbms-113	117	7	are	be	AUX
aijbms-113	117	8	unable	unable	ADJ
aijbms-113	117	9	to	to	PART
aijbms-113	117	10	deliver	deliver	VERB
aijbms-113	117	11	significant	significant	ADJ
aijbms-113	117	12	positive	positive	ADJ
aijbms-113	117	13	out	out	ADJ
aijbms-113	117	14	performance	performance	NOUN
aijbms-113	117	15	on	on	ADP
aijbms-113	117	16	the	the	DET
aijbms-113	117	17	basis	basis	NOUN
aijbms-113	117	18	of	of	ADP
aijbms-113	117	19	managerial	managerial	ADJ
aijbms-113	117	20	skill	skill	NOUN
aijbms-113	117	21	that	that	PRON
aijbms-113	117	22	is	be	AUX
aijbms-113	117	23	unrelated	unrelated	ADJ
aijbms-113	117	24	to	to	ADP
aijbms-113	117	25	the	the	DET
aijbms-113	117	26	exposure	exposure	NOUN
aijbms-113	117	27	to	to	ADP
aijbms-113	117	28	the	the	DET
aijbms-113	117	29	variation	variation	NOUN
aijbms-113	117	30	in	in	ADP
aijbms-113	117	31	the	the	DET
aijbms-113	117	32	underlying	underlie	VERB
aijbms-113	117	33	market	market	NOUN
aijbms-113	117	34	return	return	NOUN
aijbms-113	117	35	.	.	PUNCT
aijbms-113	118	1	it	it	PRON
aijbms-113	118	2	also	also	ADV
aijbms-113	118	3	reveals	reveal	VERB
aijbms-113	118	4	that	that	SCONJ
aijbms-113	118	5	the	the	DET
aijbms-113	118	6	impact	impact	NOUN
aijbms-113	118	7	of	of	ADP
aijbms-113	118	8	transaction	transaction	NOUN
aijbms-113	118	9	costs	cost	NOUN
aijbms-113	118	10	,	,	PUNCT
aijbms-113	118	11	fees	fee	NOUN
aijbms-113	118	12	and	and	CCONJ
aijbms-113	118	13	other	other	ADJ
aijbms-113	118	14	market	market	NOUN
aijbms-113	118	15	frictions	friction	NOUN
aijbms-113	118	16	that	that	PRON
aijbms-113	118	17	are	be	AUX
aijbms-113	118	18	especially	especially	ADV
aijbms-113	118	19	prevalent	prevalent	ADJ
aijbms-113	118	20	in	in	ADP
aijbms-113	118	21	the	the	DET
aijbms-113	118	22	direct	direct	ADJ
aijbms-113	118	23	real	real	ADJ
aijbms-113	118	24	estate	estate	NOUN
aijbms-113	118	25	investment	investment	NOUN
aijbms-113	118	26	industry	industry	NOUN
aijbms-113	118	27	,	,	PUNCT
aijbms-113	118	28	given	give	VERB
aijbms-113	118	29	the	the	DET
aijbms-113	118	30	relatively	relatively	ADV
aijbms-113	118	31	low	low	ADJ
aijbms-113	118	32	level	level	NOUN
aijbms-113	118	33	of	of	ADP
aijbms-113	118	34	liquidity	liquidity	NOUN
aijbms-113	118	35	of	of	ADP
aijbms-113	118	36	the	the	DET
aijbms-113	118	37	underlying	underlie	VERB
aijbms-113	118	38	assets	asset	NOUN
aijbms-113	118	39	.	.	PUNCT
aijbms-113	119	1	it	it	PRON
aijbms-113	119	2	further	far	ADV
aijbms-113	119	3	shows	show	VERB
aijbms-113	119	4	that	that	SCONJ
aijbms-113	119	5	excess	excess	ADJ
aijbms-113	119	6	fund	fund	NOUN
aijbms-113	119	7	return	return	NOUN
aijbms-113	119	8	were	be	AUX
aijbms-113	119	9	approximately	approximately	ADV
aijbms-113	119	10	proportional	proportional	ADJ
aijbms-113	119	11	to	to	ADP
aijbms-113	119	12	the	the	DET
aijbms-113	119	13	excess	excess	ADJ
aijbms-113	119	14	market	market	NOUN
aijbms-113	119	15	return	return	NOUN
aijbms-113	119	16	,	,	PUNCT
aijbms-113	119	17	implying	imply	VERB
aijbms-113	119	18	that	that	SCONJ
aijbms-113	119	19	these	these	DET
aijbms-113	119	20	fund	fund	NOUN
aijbms-113	119	21	offers	offer	VERB
aijbms-113	119	22	their	their	PRON
aijbms-113	119	23	investors	investor	NOUN
aijbms-113	119	24	effective	effective	ADJ
aijbms-113	119	25	exposure	exposure	NOUN
aijbms-113	119	26	to	to	ADP
aijbms-113	119	27	the	the	DET
aijbms-113	119	28	performance	performance	NOUN
aijbms-113	119	29	of	of	ADP
aijbms-113	119	30	the	the	DET
aijbms-113	119	31	underlying	underlying	ADJ
aijbms-113	119	32	property	property	NOUN
aijbms-113	119	33	markets	market	NOUN
aijbms-113	119	34	.	.	PUNCT
aijbms-113	120	1	www.acseusa.org/journal/index.php/aijbms	www.acseusa.org/journal/index.php/aijbms	PROPN
aijbms-113	120	2	american	american	PROPN
aijbms-113	120	3	international	international	PROPN
aijbms-113	120	4	journal	journal	PROPN
aijbms-113	120	5	of	of	ADP
aijbms-113	120	6	business	business	NOUN
aijbms-113	120	7	and	and	CCONJ
aijbms-113	120	8	management	management	NOUN
aijbms-113	120	9	studies	study	NOUN
aijbms-113	120	10	vol	vol	NOUN
aijbms-113	120	11	.	.	PROPN
aijbms-113	121	1	1	1	NUM
aijbms-113	121	2	,	,	PUNCT
aijbms-113	121	3	no	no	INTJ
aijbms-113	121	4	.	.	NOUN
aijbms-113	121	5	1	1	NUM
aijbms-113	121	6	;	;	PUNCT
aijbms-113	121	7	2019	2019	NUM
aijbms-113	121	8	52	52	NUM
aijbms-113	121	9	akhtar	akhtar	NOUN
aijbms-113	121	10	,	,	PUNCT
aijbms-113	121	11	(	(	PUNCT
aijbms-113	121	12	2012	2012	NUM
aijbms-113	121	13	)	)	PUNCT
aijbms-113	121	14	conducted	conduct	VERB
aijbms-113	121	15	a	a	DET
aijbms-113	121	16	study	study	NOUN
aijbms-113	121	17	aiming	aim	VERB
aijbms-113	121	18	to	to	PART
aijbms-113	121	19	discover	discover	VERB
aijbms-113	121	20	the	the	DET
aijbms-113	121	21	impact	impact	NOUN
aijbms-113	121	22	of	of	ADP
aijbms-113	121	23	leverage	leverage	NOUN
aijbms-113	121	24	on	on	ADP
aijbms-113	121	25	corporate	corporate	ADJ
aijbms-113	121	26	financial	financial	ADJ
aijbms-113	121	27	performance	performance	NOUN
aijbms-113	121	28	,	,	PUNCT
aijbms-113	121	29	answering	answer	VERB
aijbms-113	121	30	whither	whither	NOUN
aijbms-113	121	31	the	the	DET
aijbms-113	121	32	“	"	PUNCT
aijbms-113	121	33	companies	company	NOUN
aijbms-113	121	34	with	with	ADP
aijbms-113	121	35	high	high	ADJ
aijbms-113	121	36	rates	rate	NOUN
aijbms-113	121	37	of	of	ADP
aijbms-113	121	38	profitability	profitability	NOUN
aijbms-113	121	39	are	be	AUX
aijbms-113	121	40	seeking	seek	VERB
aijbms-113	121	41	to	to	PART
aijbms-113	121	42	increase	increase	VERB
aijbms-113	121	43	leverage	leverage	NOUN
aijbms-113	121	44	,	,	PUNCT
aijbms-113	121	45	using	use	VERB
aijbms-113	121	46	a	a	DET
aijbms-113	121	47	sample	sample	NOUN
aijbms-113	121	48	from	from	ADP
aijbms-113	121	49	the	the	DET
aijbms-113	121	50	oil	oil	NOUN
aijbms-113	121	51	&	&	CCONJ
aijbms-113	121	52	energy	energy	NOUN
aijbms-113	121	53	companies	company	NOUN
aijbms-113	121	54	sector	sector	NOUN
aijbms-113	121	55	,	,	PUNCT
aijbms-113	121	56	to	to	PART
aijbms-113	121	57	measure	measure	VERB
aijbms-113	121	58	the	the	DET
aijbms-113	121	59	effect	effect	NOUN
aijbms-113	121	60	of	of	ADP
aijbms-113	121	61	leverage	leverage	NOUN
aijbms-113	121	62	on	on	ADP
aijbms-113	121	63	the	the	DET
aijbms-113	121	64	different	different	ADJ
aijbms-113	121	65	performance	performance	NOUN
aijbms-113	121	66	measures	measure	NOUN
aijbms-113	121	67	,	,	PUNCT
aijbms-113	121	68	including	include	VERB
aijbms-113	121	69	:	:	PUNCT
aijbms-113	121	70	rate	rate	NOUN
aijbms-113	121	71	of	of	ADP
aijbms-113	121	72	return	return	NOUN
aijbms-113	121	73	on	on	ADP
aijbms-113	121	74	assets	asset	NOUN
aijbms-113	121	75	index	index	NOUN
aijbms-113	121	76	,	,	PUNCT
aijbms-113	121	77	return	return	VERB
aijbms-113	121	78	on	on	ADP
aijbms-113	121	79	equity	equity	NOUN
aijbms-113	121	80	,	,	PUNCT
aijbms-113	121	81	the	the	DET
aijbms-113	121	82	number	number	NOUN
aijbms-113	121	83	of	of	ADP
aijbms-113	121	84	times	time	NOUN
aijbms-113	121	85	to	to	PART
aijbms-113	121	86	cover	cover	VERB
aijbms-113	121	87	benefits	benefit	NOUN
aijbms-113	121	88	and	and	CCONJ
aijbms-113	121	89	debt	debt	NOUN
aijbms-113	121	90	,	,	PUNCT
aijbms-113	121	91	the	the	DET
aijbms-113	121	92	ratio	ratio	NOUN
aijbms-113	121	93	of	of	ADP
aijbms-113	121	94	dividends	dividend	NOUN
aijbms-113	121	95	to	to	ADP
aijbms-113	121	96	equity	equity	NOUN
aijbms-113	121	97	,	,	PUNCT
aijbms-113	121	98	net	net	ADJ
aijbms-113	121	99	operating	operating	NOUN
aijbms-113	121	100	profit	profit	NOUN
aijbms-113	121	101	,	,	PUNCT
aijbms-113	121	102	growth	growth	NOUN
aijbms-113	121	103	in	in	ADP
aijbms-113	121	104	sales	sale	NOUN
aijbms-113	121	105	,	,	PUNCT
aijbms-113	121	106	and	and	CCONJ
aijbms-113	121	107	earnings	earning	NOUN
aijbms-113	121	108	per	per	ADP
aijbms-113	121	109	share	share	NOUN
aijbms-113	121	110	.	.	PUNCT
aijbms-113	122	1	the	the	DET
aijbms-113	122	2	study	study	NOUN
aijbms-113	122	3	concluded	conclude	VERB
aijbms-113	122	4	that	that	SCONJ
aijbms-113	122	5	the	the	DET
aijbms-113	122	6	use	use	NOUN
aijbms-113	122	7	financial	financial	ADJ
aijbms-113	122	8	leverage	leverage	NOUN
aijbms-113	122	9	results	result	NOUN
aijbms-113	122	10	in	in	ADP
aijbms-113	122	11	improved	improved	ADJ
aijbms-113	122	12	financial	financial	ADJ
aijbms-113	122	13	situation	situation	NOUN
aijbms-113	122	14	,	,	PUNCT
aijbms-113	122	15	in	in	ADP
aijbms-113	122	16	another	another	DET
aijbms-113	122	17	words	word	NOUN
aijbms-113	122	18	showing	show	VERB
aijbms-113	122	19	that	that	SCONJ
aijbms-113	122	20	there	there	PRON
aijbms-113	122	21	is	be	VERB
aijbms-113	122	22	a	a	DET
aijbms-113	122	23	positive	positive	ADJ
aijbms-113	122	24	relationship	relationship	NOUN
aijbms-113	122	25	between	between	ADP
aijbms-113	122	26	leverage	leverage	NOUN
aijbms-113	122	27	&	&	CCONJ
aijbms-113	122	28	the	the	DET
aijbms-113	122	29	performance	performance	NOUN
aijbms-113	122	30	of	of	ADP
aijbms-113	122	31	the	the	DET
aijbms-113	122	32	companies	company	NOUN
aijbms-113	122	33	.	.	PUNCT
aijbms-113	123	1	subai'i	subai'i	PROPN
aijbms-113	123	2	(	(	PUNCT
aijbms-113	123	3	2012	2012	NUM
aijbms-113	123	4	)	)	PUNCT
aijbms-113	123	5	also	also	ADV
aijbms-113	123	6	studied	study	VERB
aijbms-113	123	7	the	the	DET
aijbms-113	123	8	relationship	relationship	NOUN
aijbms-113	123	9	between	between	ADP
aijbms-113	123	10	financial	financial	ADJ
aijbms-113	123	11	leverage	leverage	NOUN
aijbms-113	123	12	&	&	CCONJ
aijbms-113	123	13	return	return	VERB
aijbms-113	123	14	on	on	ADP
aijbms-113	123	15	assets	asset	NOUN
aijbms-113	123	16	in	in	ADP
aijbms-113	123	17	the	the	DET
aijbms-113	123	18	kuwaiti	kuwaiti	PROPN
aijbms-113	123	19	economic	economic	ADJ
aijbms-113	123	20	sector	sector	NOUN
aijbms-113	123	21	,	,	PUNCT
aijbms-113	123	22	having	have	VERB
aijbms-113	123	23	a	a	DET
aijbms-113	123	24	sample	sample	NOUN
aijbms-113	123	25	that	that	PRON
aijbms-113	123	26	consisted	consist	VERB
aijbms-113	123	27	of	of	ADP
aijbms-113	123	28	fifty	fifty	NUM
aijbms-113	123	29	-	-	PUNCT
aijbms-113	123	30	four	four	NUM
aijbms-113	123	31	companies	company	NOUN
aijbms-113	123	32	from	from	ADP
aijbms-113	123	33	the	the	DET
aijbms-113	123	34	kuwaiti	kuwaiti	PROPN
aijbms-113	123	35	public	public	ADJ
aijbms-113	123	36	shareholding	shareholding	NOUN
aijbms-113	123	37	companies	company	NOUN
aijbms-113	123	38	.	.	PUNCT
aijbms-113	124	1	the	the	DET
aijbms-113	124	2	study	study	NOUN
aijbms-113	124	3	results	result	NOUN
aijbms-113	124	4	showed	show	VERB
aijbms-113	124	5	that	that	SCONJ
aijbms-113	124	6	there	there	PRON
aijbms-113	124	7	is	be	VERB
aijbms-113	124	8	positive	positive	ADJ
aijbms-113	124	9	relationship	relationship	NOUN
aijbms-113	124	10	between	between	ADP
aijbms-113	124	11	financial	financial	ADJ
aijbms-113	124	12	leverage	leverage	NOUN
aijbms-113	124	13	&	&	CCONJ
aijbms-113	124	14	return	return	VERB
aijbms-113	124	15	on	on	ADP
aijbms-113	124	16	investment	investment	NOUN
aijbms-113	124	17	for	for	ADP
aijbms-113	124	18	all	all	PRON
aijbms-113	124	19	of	of	ADP
aijbms-113	124	20	the	the	DET
aijbms-113	124	21	economy	economy	NOUN
aijbms-113	124	22	sectors	sector	NOUN
aijbms-113	124	23	.	.	PUNCT
aijbms-113	125	1	al	al	PROPN
aijbms-113	125	2	-	-	PROPN
aijbms-113	125	3	tally	tally	PROPN
aijbms-113	125	4	(	(	PUNCT
aijbms-113	125	5	2014	2014	NUM
aijbms-113	125	6	)	)	PUNCT
aijbms-113	125	7	,	,	PUNCT
aijbms-113	125	8	have	have	AUX
aijbms-113	125	9	also	also	ADV
aijbms-113	125	10	researched	research	VERB
aijbms-113	125	11	the	the	DET
aijbms-113	125	12	effect	effect	NOUN
aijbms-113	125	13	of	of	ADP
aijbms-113	125	14	financial	financial	ADJ
aijbms-113	125	15	leverage	leverage	NOUN
aijbms-113	125	16	on	on	ADP
aijbms-113	125	17	firms	firm	NOUN
aijbms-113	125	18	financial	financial	ADJ
aijbms-113	125	19	performance	performance	NOUN
aijbms-113	125	20	in	in	ADP
aijbms-113	125	21	saudi	saudi	PROPN
aijbms-113	125	22	arabia	arabia	PROPN
aijbms-113	125	23	’s	’s	PART
aijbms-113	125	24	public	public	ADJ
aijbms-113	125	25	listed	list	VERB
aijbms-113	125	26	companies	company	NOUN
aijbms-113	125	27	.	.	PUNCT
aijbms-113	126	1	the	the	DET
aijbms-113	126	2	study	study	NOUN
aijbms-113	126	3	sample	sample	NOUN
aijbms-113	126	4	was	be	AUX
aijbms-113	126	5	57	57	NUM
aijbms-113	126	6	publicly	publicly	ADV
aijbms-113	126	7	trading	trading	NOUN
aijbms-113	126	8	firms	firm	NOUN
aijbms-113	126	9	listed	list	VERB
aijbms-113	126	10	in	in	ADP
aijbms-113	126	11	saudi	saudi	ADJ
aijbms-113	126	12	stock	stock	NOUN
aijbms-113	126	13	exchange	exchange	NOUN
aijbms-113	126	14	for	for	ADP
aijbms-113	126	15	the	the	DET
aijbms-113	126	16	years	year	NOUN
aijbms-113	126	17	2002	2002	NUM
aijbms-113	126	18	-	-	SYM
aijbms-113	126	19	2010	2010	NUM
aijbms-113	126	20	.	.	PUNCT
aijbms-113	127	1	independent	independent	ADJ
aijbms-113	127	2	variable	variable	NOUN
aijbms-113	127	3	used	use	VERB
aijbms-113	127	4	in	in	ADP
aijbms-113	127	5	the	the	DET
aijbms-113	127	6	study	study	NOUN
aijbms-113	127	7	was	be	AUX
aijbms-113	127	8	financial	financial	ADJ
aijbms-113	127	9	leverage	leverage	NOUN
aijbms-113	127	10	&	&	CCONJ
aijbms-113	127	11	zakat	zakat	PROPN
aijbms-113	127	12	whereas	whereas	SCONJ
aijbms-113	127	13	financial	financial	ADJ
aijbms-113	127	14	performance	performance	NOUN
aijbms-113	127	15	was	be	AUX
aijbms-113	127	16	used	use	VERB
aijbms-113	127	17	as	as	ADP
aijbms-113	127	18	dependent	dependent	ADJ
aijbms-113	127	19	variable	variable	NOUN
aijbms-113	127	20	.	.	PUNCT
aijbms-113	128	1	to	to	PART
aijbms-113	128	2	discover	discover	VERB
aijbms-113	128	3	the	the	DET
aijbms-113	128	4	relationship	relationship	NOUN
aijbms-113	128	5	among	among	ADP
aijbms-113	128	6	the	the	DET
aijbms-113	128	7	variables	variable	NOUN
aijbms-113	128	8	several	several	ADJ
aijbms-113	128	9	techniques	technique	NOUN
aijbms-113	128	10	were	be	AUX
aijbms-113	128	11	used	use	VERB
aijbms-113	128	12	including	include	VERB
aijbms-113	128	13	:	:	PUNCT
aijbms-113	128	14	maximum	maximum	ADJ
aijbms-113	128	15	&	&	CCONJ
aijbms-113	128	16	mean	mean	ADJ
aijbms-113	128	17	factor	factor	NOUN
aijbms-113	128	18	analysis	analysis	NOUN
aijbms-113	128	19	,	,	PUNCT
aijbms-113	128	20	standard	standard	ADJ
aijbms-113	128	21	deviation	deviation	NOUN
aijbms-113	128	22	,	,	PUNCT
aijbms-113	128	23	anova	anova	PROPN
aijbms-113	128	24	and	and	CCONJ
aijbms-113	128	25	spss	spss	PROPN
aijbms-113	128	26	software	software	NOUN
aijbms-113	128	27	.	.	PUNCT
aijbms-113	129	1	the	the	DET
aijbms-113	129	2	overall	overall	ADJ
aijbms-113	129	3	results	result	NOUN
aijbms-113	129	4	concluded	conclude	VERB
aijbms-113	129	5	that	that	SCONJ
aijbms-113	129	6	positive	positive	ADJ
aijbms-113	129	7	relationship	relationship	NOUN
aijbms-113	129	8	between	between	ADP
aijbms-113	129	9	financial	financial	ADJ
aijbms-113	129	10	leverage	leverage	NOUN
aijbms-113	129	11	and	and	CCONJ
aijbms-113	129	12	performance	performance	NOUN
aijbms-113	129	13	.	.	PUNCT
aijbms-113	130	1	the	the	DET
aijbms-113	130	2	studies	study	NOUN
aijbms-113	130	3	mentioned	mention	VERB
aijbms-113	130	4	above	above	ADV
aijbms-113	130	5	provided	provide	VERB
aijbms-113	130	6	empirical	empirical	ADJ
aijbms-113	130	7	evidence	evidence	NOUN
aijbms-113	130	8	supporting	support	VERB
aijbms-113	130	9	the	the	DET
aijbms-113	130	10	theory	theory	NOUN
aijbms-113	130	11	of	of	ADP
aijbms-113	130	12	the	the	DET
aijbms-113	130	13	financial	financial	ADJ
aijbms-113	130	14	leverage	leverage	NOUN
aijbms-113	130	15	positive	positive	ADJ
aijbms-113	130	16	effect	effect	NOUN
aijbms-113	130	17	on	on	ADP
aijbms-113	130	18	the	the	DET
aijbms-113	130	19	performance	performance	NOUN
aijbms-113	130	20	of	of	ADP
aijbms-113	130	21	the	the	DET
aijbms-113	130	22	company	company	NOUN
aijbms-113	130	23	;	;	PUNCT
aijbms-113	130	24	however	however	SCONJ
aijbms-113	130	25	other	other	ADJ
aijbms-113	130	26	studies	study	NOUN
aijbms-113	130	27	that	that	PRON
aijbms-113	130	28	have	have	AUX
aijbms-113	130	29	been	be	AUX
aijbms-113	130	30	conducted	conduct	VERB
aijbms-113	130	31	on	on	ADP
aijbms-113	130	32	different	different	ADJ
aijbms-113	130	33	samples	sample	NOUN
aijbms-113	130	34	showed	show	VERB
aijbms-113	130	35	different	different	ADJ
aijbms-113	130	36	results	result	NOUN
aijbms-113	130	37	.	.	PUNCT
aijbms-113	131	1	jameel	jameel	PROPN
aijbms-113	131	2	(	(	PUNCT
aijbms-113	131	3	2013	2013	NUM
aijbms-113	131	4	)	)	PUNCT
aijbms-113	131	5	,	,	PUNCT
aijbms-113	131	6	where	where	SCONJ
aijbms-113	131	7	he	he	PRON
aijbms-113	131	8	concluded	conclude	VERB
aijbms-113	131	9	that	that	SCONJ
aijbms-113	131	10	the	the	DET
aijbms-113	131	11	financial	financial	ADJ
aijbms-113	131	12	leverage	leverage	NOUN
aijbms-113	131	13	negatively	negatively	ADV
aijbms-113	131	14	affects	affect	VERB
aijbms-113	131	15	the	the	DET
aijbms-113	131	16	accounting	accounting	NOUN
aijbms-113	131	17	performance	performance	NOUN
aijbms-113	131	18	measures	measure	NOUN
aijbms-113	131	19	and	and	CCONJ
aijbms-113	131	20	the	the	DET
aijbms-113	131	21	market	market	NOUN
aijbms-113	131	22	value	value	NOUN
aijbms-113	131	23	of	of	ADP
aijbms-113	131	24	the	the	DET
aijbms-113	131	25	firms	firm	NOUN
aijbms-113	131	26	and	and	CCONJ
aijbms-113	131	27	this	this	DET
aijbms-113	131	28	impact	impact	NOUN
aijbms-113	131	29	extends	extend	VERB
aijbms-113	131	30	for	for	ADP
aijbms-113	131	31	several	several	ADJ
aijbms-113	131	32	subsequent	subsequent	ADJ
aijbms-113	131	33	years	year	NOUN
aijbms-113	131	34	.	.	PUNCT
aijbms-113	132	1	the	the	DET
aijbms-113	132	2	objective	objective	NOUN
aijbms-113	132	3	of	of	ADP
aijbms-113	132	4	the	the	DET
aijbms-113	132	5	study	study	NOUN
aijbms-113	132	6	was	be	AUX
aijbms-113	132	7	to	to	PART
aijbms-113	132	8	examine	examine	VERB
aijbms-113	132	9	the	the	DET
aijbms-113	132	10	impact	impact	NOUN
aijbms-113	132	11	of	of	ADP
aijbms-113	132	12	financial	financial	ADJ
aijbms-113	132	13	leverage	leverage	NOUN
aijbms-113	132	14	on	on	ADP
aijbms-113	132	15	the	the	DET
aijbms-113	132	16	different	different	ADJ
aijbms-113	132	17	performance	performance	NOUN
aijbms-113	132	18	measures	measure	NOUN
aijbms-113	132	19	,	,	PUNCT
aijbms-113	132	20	and	and	CCONJ
aijbms-113	132	21	to	to	PART
aijbms-113	132	22	discover	discover	VERB
aijbms-113	132	23	which	which	DET
aijbms-113	132	24	one	one	NUM
aijbms-113	132	25	of	of	ADP
aijbms-113	132	26	them	they	PRON
aijbms-113	132	27	would	would	AUX
aijbms-113	132	28	be	be	AUX
aijbms-113	132	29	the	the	DET
aijbms-113	132	30	more	more	ADV
aijbms-113	132	31	affected	affect	VERB
aijbms-113	132	32	by	by	ADP
aijbms-113	132	33	financial	financial	ADJ
aijbms-113	132	34	leverage	leverage	NOUN
aijbms-113	132	35	.	.	PUNCT
aijbms-113	133	1	testing	test	VERB
aijbms-113	133	2	the	the	DET
aijbms-113	133	3	hypothesis	hypothesis	NOUN
aijbms-113	133	4	on	on	ADP
aijbms-113	133	5	a	a	DET
aijbms-113	133	6	sample	sample	NOUN
aijbms-113	133	7	that	that	PRON
aijbms-113	133	8	was	be	AUX
aijbms-113	133	9	extracted	extract	VERB
aijbms-113	133	10	from	from	ADP
aijbms-113	133	11	firms	firm	NOUN
aijbms-113	133	12	listed	list	VERB
aijbms-113	133	13	at	at	ADP
aijbms-113	133	14	palestinian	palestinian	ADJ
aijbms-113	133	15	security	security	NOUN
aijbms-113	133	16	exchange	exchange	NOUN
aijbms-113	133	17	(	(	PUNCT
aijbms-113	133	18	consisting	consist	VERB
aijbms-113	133	19	of	of	ADP
aijbms-113	133	20	twenty	twenty	NUM
aijbms-113	133	21	publicly	publicly	ADV
aijbms-113	133	22	listed	list	VERB
aijbms-113	133	23	corporations	corporation	NOUN
aijbms-113	133	24	during	during	ADP
aijbms-113	133	25	the	the	DET
aijbms-113	133	26	period	period	NOUN
aijbms-113	133	27	2004	2004	NUM
aijbms-113	133	28	-	-	SYM
aijbms-113	133	29	2011	2011	NUM
aijbms-113	133	30	)	)	PUNCT
aijbms-113	133	31	,	,	PUNCT
aijbms-113	133	32	using	use	VERB
aijbms-113	133	33	the	the	DET
aijbms-113	133	34	multi	multi	ADJ
aijbms-113	133	35	regression	regression	NOUN
aijbms-113	133	36	model	model	NOUN
aijbms-113	133	37	,	,	PUNCT
aijbms-113	133	38	and	and	CCONJ
aijbms-113	133	39	return	return	VERB
aijbms-113	133	40	on	on	ADP
aijbms-113	133	41	assets	asset	NOUN
aijbms-113	133	42	(	(	PUNCT
aijbms-113	133	43	roa	roa	NOUN
aijbms-113	133	44	)	)	PUNCT
aijbms-113	133	45	return	return	NOUN
aijbms-113	133	46	on	on	ADP
aijbms-113	133	47	equity	equity	NOUN
aijbms-113	133	48	(	(	PUNCT
aijbms-113	133	49	roe	roe	PROPN
aijbms-113	133	50	)	)	PUNCT
aijbms-113	133	51	,	,	PUNCT
aijbms-113	133	52	return	return	VERB
aijbms-113	133	53	on	on	ADP
aijbms-113	133	54	sales	sale	NOUN
aijbms-113	133	55	(	(	PUNCT
aijbms-113	133	56	ros	ros	PROPN
aijbms-113	133	57	)	)	PUNCT
aijbms-113	133	58	,	,	PUNCT
aijbms-113	133	59	and	and	CCONJ
aijbms-113	133	60	sales	sale	NOUN
aijbms-113	133	61	growth	growth	NOUN
aijbms-113	133	62	as	as	ADP
aijbms-113	133	63	accounting	accounting	NOUN
aijbms-113	133	64	performance	performance	NOUN
aijbms-113	133	65	measures	measure	NOUN
aijbms-113	133	66	,	,	PUNCT
aijbms-113	133	67	and	and	CCONJ
aijbms-113	133	68	tobin	tobin	PROPN
aijbms-113	133	69	’s	’s	PART
aijbms-113	133	70	q	q	PUNCT
aijbms-113	133	71	to	to	PART
aijbms-113	133	72	measure	measure	VERB
aijbms-113	133	73	&	&	CCONJ
aijbms-113	133	74	represent	represent	VERB
aijbms-113	133	75	the	the	DET
aijbms-113	133	76	market	market	NOUN
aijbms-113	133	77	value	value	NOUN
aijbms-113	133	78	of	of	ADP
aijbms-113	133	79	the	the	DET
aijbms-113	133	80	company	company	NOUN
aijbms-113	133	81	.	.	PUNCT
aijbms-113	134	1	hashemi	hashemi	NOUN
aijbms-113	134	2	and	and	CCONJ
aijbms-113	134	3	zadeh	zadeh	PROPN
aijbms-113	134	4	(	(	PUNCT
aijbms-113	134	5	2012	2012	NUM
aijbms-113	134	6	)	)	PUNCT
aijbms-113	134	7	,	,	PUNCT
aijbms-113	134	8	also	also	ADV
aijbms-113	134	9	concluded	conclude	VERB
aijbms-113	134	10	from	from	ADP
aijbms-113	134	11	their	their	PRON
aijbms-113	134	12	study	study	NOUN
aijbms-113	134	13	that	that	SCONJ
aijbms-113	134	14	companies	company	NOUN
aijbms-113	134	15	that	that	PRON
aijbms-113	134	16	have	have	VERB
aijbms-113	134	17	high	high	ADJ
aijbms-113	134	18	leverage	leverage	NOUN
aijbms-113	134	19	will	will	AUX
aijbms-113	134	20	distribute	distribute	VERB
aijbms-113	134	21	less	less	ADJ
aijbms-113	134	22	profits	profit	NOUN
aijbms-113	134	23	to	to	ADP
aijbms-113	134	24	shareholders	shareholder	NOUN
aijbms-113	134	25	when	when	SCONJ
aijbms-113	134	26	compared	compare	VERB
aijbms-113	134	27	to	to	ADP
aijbms-113	134	28	companies	company	NOUN
aijbms-113	134	29	with	with	ADP
aijbms-113	134	30	low	low	ADJ
aijbms-113	134	31	leverage	leverage	NOUN
aijbms-113	134	32	,	,	PUNCT
aijbms-113	134	33	as	as	ADP
aijbms-113	134	34	result	result	NOUN
aijbms-113	134	35	of	of	ADP
aijbms-113	134	36	the	the	DET
aijbms-113	134	37	reversed	reverse	VERB
aijbms-113	134	38	correlation	correlation	NOUN
aijbms-113	134	39	between	between	ADP
aijbms-113	134	40	financial	financial	ADJ
aijbms-113	134	41	leverage	leverage	NOUN
aijbms-113	134	42	&	&	CCONJ
aijbms-113	134	43	dividend	dividend	PROPN
aijbms-113	134	44	policy	policy	NOUN
aijbms-113	134	45	.	.	PUNCT
aijbms-113	135	1	the	the	DET
aijbms-113	135	2	above	above	ADJ
aijbms-113	135	3	was	be	AUX
aijbms-113	135	4	concluded	conclude	VERB
aijbms-113	135	5	when	when	SCONJ
aijbms-113	135	6	they	they	PRON
aijbms-113	135	7	conducted	conduct	VERB
aijbms-113	135	8	a	a	DET
aijbms-113	135	9	study	study	NOUN
aijbms-113	135	10	aiming	aim	VERB
aijbms-113	135	11	to	to	PART
aijbms-113	135	12	test	test	VERB
aijbms-113	135	13	the	the	DET
aijbms-113	135	14	effect	effect	NOUN
aijbms-113	135	15	of	of	ADP
aijbms-113	135	16	financial	financial	ADJ
aijbms-113	135	17	leverage	leverage	NOUN
aijbms-113	135	18	on	on	ADP
aijbms-113	135	19	dividend	dividend	NOUN
aijbms-113	135	20	policy	policy	NOUN
aijbms-113	135	21	,	,	PUNCT
aijbms-113	135	22	using	use	VERB
aijbms-113	135	23	multiple	multiple	ADJ
aijbms-113	135	24	regressions	regression	NOUN
aijbms-113	135	25	on	on	ADP
aijbms-113	135	26	a	a	DET
aijbms-113	135	27	sample	sample	NOUN
aijbms-113	135	28	of	of	ADP
aijbms-113	135	29	74	74	NUM
aijbms-113	135	30	public	public	ADJ
aijbms-113	135	31	joint	joint	ADJ
aijbms-113	135	32	stock	stock	NOUN
aijbms-113	135	33	companies	company	NOUN
aijbms-113	135	34	of	of	ADP
aijbms-113	135	35	the	the	DET
aijbms-113	135	36	companies	company	NOUN
aijbms-113	135	37	listed	list	VERB
aijbms-113	135	38	on	on	ADP
aijbms-113	135	39	tehran	tehran	PROPN
aijbms-113	135	40	stock	stock	NOUN
aijbms-113	135	41	market	market	NOUN
aijbms-113	135	42	in	in	ADP
aijbms-113	135	43	the	the	DET
aijbms-113	135	44	period	period	NOUN
aijbms-113	135	45	between	between	ADP
aijbms-113	135	46	2003	2003	NUM
aijbms-113	135	47	-	-	SYM
aijbms-113	135	48	2010	2010	NUM
aijbms-113	135	49	.	.	PUNCT
aijbms-113	136	1	tanni	tanni	PROPN
aijbms-113	136	2	,	,	PUNCT
aijbms-113	136	3	(	(	PUNCT
aijbms-113	136	4	2012	2012	NUM
aijbms-113	136	5	)	)	PUNCT
aijbms-113	136	6	tested	test	VERB
aijbms-113	136	7	the	the	DET
aijbms-113	136	8	effect	effect	NOUN
aijbms-113	136	9	of	of	ADP
aijbms-113	136	10	working	work	VERB
aijbms-113	136	11	capital	capital	NOUN
aijbms-113	136	12	polices	police	NOUN
aijbms-113	136	13	&	&	CCONJ
aijbms-113	136	14	financial	financial	ADJ
aijbms-113	136	15	leverage	leverage	NOUN
aijbms-113	136	16	on	on	ADP
aijbms-113	136	17	the	the	DET
aijbms-113	136	18	performance	performance	NOUN
aijbms-113	136	19	of	of	ADP
aijbms-113	136	20	45	45	NUM
aijbms-113	136	21	jordanians	jordanians	PROPN
aijbms-113	136	22	firms	firm	NOUN
aijbms-113	136	23	listed	list	VERB
aijbms-113	136	24	in	in	ADP
aijbms-113	136	25	the	the	DET
aijbms-113	136	26	ase	ase	NOUN
aijbms-113	136	27	stock	stock	PROPN
aijbms-113	136	28	exchange	exchange	PROPN
aijbms-113	136	29	.	.	PUNCT
aijbms-113	137	1	aiming	aim	VERB
aijbms-113	137	2	to	to	PART
aijbms-113	137	3	find	find	VERB
aijbms-113	137	4	the	the	DET
aijbms-113	137	5	relationship	relationship	NOUN
aijbms-113	137	6	between	between	ADP
aijbms-113	137	7	debt	debt	NOUN
aijbms-113	137	8	,	,	PUNCT
aijbms-113	137	9	size	size	NOUN
aijbms-113	137	10	,	,	PUNCT
aijbms-113	137	11	and	and	CCONJ
aijbms-113	137	12	profitability	profitability	NOUN
aijbms-113	137	13	using	use	VERB
aijbms-113	137	14	the	the	DET
aijbms-113	137	15	spss	spss	PROPN
aijbms-113	137	16	statistics	statistic	NOUN
aijbms-113	137	17	to	to	PART
aijbms-113	137	18	determine	determine	VERB
aijbms-113	137	19	the	the	DET
aijbms-113	137	20	nature	nature	NOUN
aijbms-113	137	21	of	of	ADP
aijbms-113	137	22	the	the	DET
aijbms-113	137	23	relationships	relationship	NOUN
aijbms-113	137	24	mentioned	mention	VERB
aijbms-113	137	25	above	above	ADV
aijbms-113	137	26	,	,	PUNCT
aijbms-113	137	27	test	test	NOUN
aijbms-113	137	28	of	of	ADP
aijbms-113	137	29	correlation	correlation	NOUN
aijbms-113	137	30	,	,	PUNCT
aijbms-113	137	31	anova	anova	PROPN
aijbms-113	137	32	,	,	PUNCT
aijbms-113	137	33	and	and	CCONJ
aijbms-113	137	34	multiple	multiple	ADJ
aijbms-113	137	35	regression	regression	NOUN
aijbms-113	137	36	analysis	analysis	NOUN
aijbms-113	137	37	were	be	AUX
aijbms-113	137	38	performed	perform	VERB
aijbms-113	137	39	.	.	PUNCT
aijbms-113	138	1	the	the	DET
aijbms-113	138	2	finding	finding	NOUN
aijbms-113	138	3	indicated	indicate	VERB
aijbms-113	138	4	that	that	SCONJ
aijbms-113	138	5	firm	firm	NOUN
aijbms-113	138	6	’s	’s	PART
aijbms-113	138	7	working	work	VERB
aijbms-113	138	8	capital	capital	NOUN
aijbms-113	138	9	management	management	NOUN
aijbms-113	138	10	policies	policy	NOUN
aijbms-113	138	11	,	,	PUNCT
aijbms-113	138	12	financial	financial	ADJ
aijbms-113	138	13	leverage	leverage	NOUN
aijbms-113	138	14	,	,	PUNCT
aijbms-113	138	15	and	and	CCONJ
aijbms-113	138	16	size	size	NOUN
aijbms-113	138	17	have	have	VERB
aijbms-113	138	18	a	a	DET
aijbms-113	138	19	significant	significant	ADJ
aijbms-113	138	20	relationship	relationship	NOUN
aijbms-113	138	21	to	to	ADP
aijbms-113	138	22	the	the	DET
aijbms-113	138	23	net	net	ADJ
aijbms-113	138	24	income	income	NOUN
aijbms-113	138	25	,	,	PUNCT
aijbms-113	138	26	roe	roe	NOUN
aijbms-113	138	27	,	,	PUNCT
aijbms-113	138	28	and	and	CCONJ
aijbms-113	138	29	roa	roa	PROPN
aijbms-113	138	30	.	.	PUNCT
aijbms-113	139	1	furthermore	furthermore	ADV
aijbms-113	139	2	,	,	PUNCT
aijbms-113	139	3	the	the	DET
aijbms-113	139	4	study	study	NOUN
aijbms-113	139	5	concludes	conclude	VERB
aijbms-113	139	6	that	that	SCONJ
aijbms-113	139	7	that	that	SCONJ
aijbms-113	139	8	working	work	VERB
aijbms-113	139	9	capital	capital	NOUN
aijbms-113	139	10	polices	police	NOUN
aijbms-113	139	11	and	and	CCONJ
aijbms-113	139	12	size	size	NOUN
aijbms-113	139	13	has	have	VERB
aijbms-113	139	14	a	a	DET
aijbms-113	139	15	positive	positive	ADJ
aijbms-113	139	16	effect	effect	NOUN
aijbms-113	139	17	on	on	ADP
aijbms-113	139	18	profitability/	profitability/	NUM
aijbms-113	139	19	performance	performance	NOUN
aijbms-113	139	20	,	,	PUNCT
aijbms-113	139	21	while	while	SCONJ
aijbms-113	139	22	financial	financial	ADJ
aijbms-113	139	23	leverage	leverage	NOUN
aijbms-113	139	24	has	have	VERB
aijbms-113	139	25	a	a	DET
aijbms-113	139	26	negative	negative	ADJ
aijbms-113	139	27	effect	effect	NOUN
aijbms-113	139	28	on	on	ADP
aijbms-113	139	29	profitability	profitability	NOUN
aijbms-113	139	30	.	.	PUNCT
aijbms-113	140	1	research	research	NOUN
aijbms-113	140	2	methodlogy	methodlogy	NOUN
aijbms-113	140	3	the	the	DET
aijbms-113	140	4	study	study	NOUN
aijbms-113	140	5	adopted	adopt	VERB
aijbms-113	140	6	quasi	quasi	ADJ
aijbms-113	140	7	experimental	experimental	ADJ
aijbms-113	140	8	research	research	NOUN
aijbms-113	140	9	design	design	NOUN
aijbms-113	140	10	;	;	PUNCT
aijbms-113	140	11	relevant	relevant	ADJ
aijbms-113	140	12	data	datum	NOUN
aijbms-113	140	13	were	be	AUX
aijbms-113	140	14	sourced	source	VERB
aijbms-113	140	15	from	from	ADP
aijbms-113	140	16	annual	annual	ADJ
aijbms-113	140	17	reports	report	NOUN
aijbms-113	140	18	and	and	CCONJ
aijbms-113	140	19	financial	financial	ADJ
aijbms-113	140	20	statement	statement	NOUN
aijbms-113	140	21	of	of	ADP
aijbms-113	140	22	10	10	NUM
aijbms-113	140	23	selected	select	VERB
aijbms-113	140	24	firms	firm	NOUN
aijbms-113	140	25	in	in	ADP
aijbms-113	140	26	nigeria	nigeria	PROPN
aijbms-113	140	27	stock	stock	PROPN
aijbms-113	140	28	exchange	exchange	PROPN
aijbms-113	140	29	from	from	ADP
aijbms-113	140	30	2000	2000	NUM
aijbms-113	140	31	to	to	ADP
aijbms-113	140	32	2017	2017	NUM
aijbms-113	140	33	.	.	PUNCT
aijbms-113	141	1	model	model	NOUN
aijbms-113	141	2	specification	specification	NOUN
aijbms-113	141	3	in	in	ADP
aijbms-113	141	4	this	this	DET
aijbms-113	141	5	study	study	NOUN
aijbms-113	141	6	,	,	PUNCT
aijbms-113	141	7	the	the	DET
aijbms-113	141	8	independent	independent	ADJ
aijbms-113	141	9	and	and	CCONJ
aijbms-113	141	10	dependent	dependent	ADJ
aijbms-113	141	11	variables	variable	NOUN
aijbms-113	141	12	will	will	AUX
aijbms-113	141	13	be	be	AUX
aijbms-113	141	14	used	use	VERB
aijbms-113	141	15	in	in	ADP
aijbms-113	141	16	an	an	DET
aijbms-113	141	17	equation	equation	NOUN
aijbms-113	141	18	called	call	VERB
aijbms-113	141	19	multiple	multiple	ADJ
aijbms-113	141	20	regressions	regression	NOUN
aijbms-113	141	21	.	.	PUNCT
aijbms-113	142	1	this	this	DET
aijbms-113	142	2	study	study	NOUN
aijbms-113	142	3	is	be	AUX
aijbms-113	142	4	a	a	DET
aijbms-113	142	5	time	time	NOUN
aijbms-113	142	6	series	series	NOUN
aijbms-113	142	7	study	study	NOUN
aijbms-113	142	8	that	that	PRON
aijbms-113	142	9	covers	cover	VERB
aijbms-113	142	10	1990	1990	NUM
aijbms-113	142	11	-	-	SYM
aijbms-113	142	12	2016	2016	NUM
aijbms-113	142	13	.	.	PUNCT
aijbms-113	143	1	cp	cp	X
aijbms-113	143	2	=	=	SYM
aijbms-113	143	3	f(fl	f(fl	PROPN
aijbms-113	143	4	)	)	PUNCT
aijbms-113	143	5	3.1	3.1	NUM
aijbms-113	143	6	disaggregating	disaggregate	VERB
aijbms-113	143	7	equation	equation	NOUN
aijbms-113	143	8	1	1	NUM
aijbms-113	143	9	to	to	PART
aijbms-113	143	10	achieve	achieve	VERB
aijbms-113	143	11	the	the	DET
aijbms-113	143	12	objective	objective	NOUN
aijbms-113	143	13	of	of	ADP
aijbms-113	143	14	the	the	DET
aijbms-113	143	15	study	study	NOUN
aijbms-113	143	16	,	,	PUNCT
aijbms-113	143	17	we	we	PRON
aijbms-113	143	18	have	have	VERB
aijbms-113	143	19	the	the	DET
aijbms-113	143	20	following	follow	VERB
aijbms-113	143	21	regression	regression	NOUN
aijbms-113	143	22	models	model	NOUN
aijbms-113	143	23	www.acseusa.org/journal/index.php/aijbms	www.acseusa.org/journal/index.php/aijbm	VERB
aijbms-113	143	24	american	american	PROPN
aijbms-113	143	25	international	international	PROPN
aijbms-113	143	26	journal	journal	PROPN
aijbms-113	143	27	of	of	ADP
aijbms-113	143	28	business	business	NOUN
aijbms-113	143	29	and	and	CCONJ
aijbms-113	143	30	management	management	NOUN
aijbms-113	143	31	studies	study	NOUN
aijbms-113	143	32	vol	vol	NOUN
aijbms-113	143	33	.	.	PROPN
aijbms-113	144	1	1	1	NUM
aijbms-113	144	2	,	,	PUNCT
aijbms-113	144	3	no	no	INTJ
aijbms-113	144	4	.	.	NOUN
aijbms-113	144	5	1	1	NUM
aijbms-113	144	6	;	;	PUNCT
aijbms-113	145	1	2019	2019	NUM
aijbms-113	145	2	53	53	NUM
aijbms-113	145	3	roa	roa	NOUN
aijbms-113	145	4	=	=	PROPN
aijbms-113	145	5	f	f	PROPN
aijbms-113	145	6	(	(	PUNCT
aijbms-113	145	7	der	der	PROPN
aijbms-113	145	8	,	,	PUNCT
aijbms-113	145	9	dr	dr	PROPN
aijbms-113	145	10	,	,	PUNCT
aijbms-113	145	11	er	er	INTJ
aijbms-113	145	12	,	,	PUNCT
aijbms-113	145	13	tlr	tlr	PROPN
aijbms-113	145	14	,	,	PUNCT
aijbms-113	145	15	ltdr	ltdr	PROPN
aijbms-113	145	16	)	)	PUNCT
aijbms-113	145	17	`	`	PUNCT
aijbms-113	145	18	3.2	3.2	NUM
aijbms-113	145	19	roe	roe	NOUN
aijbms-113	145	20	=	=	PUNCT
aijbms-113	145	21	f(der	f(der	NOUN
aijbms-113	145	22	,	,	PUNCT
aijbms-113	145	23	dr	dr	PROPN
aijbms-113	145	24	,	,	PUNCT
aijbms-113	145	25	er	er	INTJ
aijbms-113	145	26	,	,	PUNCT
aijbms-113	145	27	tlr	tlr	PROPN
aijbms-113	145	28	,	,	PUNCT
aijbms-113	145	29	ltdr	ltdr	PROPN
aijbms-113	145	30	)	)	PUNCT
aijbms-113	145	31	3.3	3.3	NUM
aijbms-113	145	32	transforming	transform	VERB
aijbms-113	145	33	the	the	DET
aijbms-113	145	34	equations	equation	NOUN
aijbms-113	145	35	above	above	ADV
aijbms-113	145	36	,	,	PUNCT
aijbms-113	145	37	to	to	ADP
aijbms-113	145	38	a	a	DET
aijbms-113	145	39	testable	testable	ADJ
aijbms-113	145	40	form	form	NOUN
aijbms-113	145	41	,	,	PUNCT
aijbms-113	145	42	we	we	PRON
aijbms-113	145	43	have	have	VERB
aijbms-113	145	44	the	the	DET
aijbms-113	145	45	following	follow	VERB
aijbms-113	145	46	equation	equation	NOUN
aijbms-113	145	47	roa	roa	PROPN
aijbms-113	145	48	=	=	PROPN
aijbms-113	145	49			NUM
aijbms-113	145	50			VERB
aijbms-113	145	51	ltdrtlrerdrder	ltdrtlrerdrder	ADJ
aijbms-113	145	52	543210	543210	NUM
aijbms-113	145	53	3.4	3.4	NUM
aijbms-113	145	54	roe	roe	NOUN
aijbms-113	145	55	=	=	SYM
aijbms-113	145	56			NUM
aijbms-113	145	57			VERB
aijbms-113	145	58	ltdrtlrerdrder	ltdrtlrerdrder	ADJ
aijbms-113	145	59	543210	543210	NUM
aijbms-113	145	60	3.5	3.5	NUM
aijbms-113	145	61	where	where	SCONJ
aijbms-113	145	62	roa	roa	NOUN
aijbms-113	145	63	=	=	NOUN
aijbms-113	145	64	return	return	NOUN
aijbms-113	145	65	on	on	ADP
aijbms-113	145	66	assets	asset	NOUN
aijbms-113	145	67	roe=	roe=	PROPN
aijbms-113	145	68	return	return	VERB
aijbms-113	145	69	on	on	ADP
aijbms-113	146	1	capital	capital	NOUN
aijbms-113	146	2	employed	employ	VERB
aijbms-113	146	3	der	der	NOUN
aijbms-113	146	4	=	=	PROPN
aijbms-113	146	5	debt	debt	NOUN
aijbms-113	146	6	equity	equity	PROPN
aijbms-113	146	7	ratio	ratio	PROPN
aijbms-113	146	8	dr	dr	PROPN
aijbms-113	146	9	=	=	PROPN
aijbms-113	146	10	debt	debt	NOUN
aijbms-113	146	11	ratio	ratio	NOUN
aijbms-113	146	12	er	er	INTJ
aijbms-113	146	13	=	=	NOUN
aijbms-113	146	14	equity	equity	NOUN
aijbms-113	146	15	ratio	ratio	NOUN
aijbms-113	146	16	tlr	tlr	PROPN
aijbms-113	146	17	=	=	PUNCT
aijbms-113	146	18	total	total	ADJ
aijbms-113	146	19	liability	liability	NOUN
aijbms-113	146	20	ratio	ratio	NOUN
aijbms-113	146	21	ltdr	ltdr	NOUN
aijbms-113	146	22	=	=	PUNCT
aijbms-113	146	23	long	long	ADJ
aijbms-113	146	24	term	term	NOUN
aijbms-113	146	25	debt	debt	NOUN
aijbms-113	146	26	ratio	ratio	NOUN
aijbms-113	146	27	0	0	NOUN
aijbms-113	147	1	=	=	PUNCT
aijbms-113	147	2	regression	regression	NOUN
aijbms-113	147	3	intercept	intercept	NOUN
aijbms-113	147	4			NOUN
aijbms-113	147	5	=	=	NOUN
aijbms-113	147	6	error	error	NOUN
aijbms-113	147	7	term	term	NOUN
aijbms-113	147	8	statistical	statistical	ADJ
aijbms-113	147	9	approach	approach	NOUN
aijbms-113	147	10	the	the	DET
aijbms-113	147	11	statistical	statistical	ADJ
aijbms-113	147	12	approaches	approach	NOUN
aijbms-113	147	13	used	use	VERB
aijbms-113	147	14	in	in	ADP
aijbms-113	147	15	this	this	DET
aijbms-113	147	16	study	study	NOUN
aijbms-113	147	17	include	include	VERB
aijbms-113	147	18	:	:	PUNCT
aijbms-113	147	19	(	(	PUNCT
aijbms-113	147	20	i	i	NOUN
aijbms-113	147	21	)	)	PUNCT
aijbms-113	147	22	coefficient	coefficient	NOUN
aijbms-113	147	23	of	of	ADP
aijbms-113	147	24	determination	determination	NOUN
aijbms-113	147	25	(	(	PUNCT
aijbms-113	147	26	r	r	NOUN
aijbms-113	147	27	2	2	NUM
aijbms-113	147	28	):	):	PUNCT
aijbms-113	147	29	this	this	PRON
aijbms-113	147	30	is	be	AUX
aijbms-113	147	31	used	use	VERB
aijbms-113	147	32	to	to	PART
aijbms-113	147	33	measure	measure	VERB
aijbms-113	147	34	the	the	DET
aijbms-113	147	35	extent	extent	NOUN
aijbms-113	147	36	to	to	PART
aijbms-113	147	37	which	which	PRON
aijbms-113	147	38	the	the	DET
aijbms-113	147	39	independent	independent	ADJ
aijbms-113	147	40	variables	variable	NOUN
aijbms-113	147	41	in	in	ADP
aijbms-113	147	42	the	the	DET
aijbms-113	147	43	model	model	NOUN
aijbms-113	147	44	can	can	AUX
aijbms-113	147	45	explain	explain	VERB
aijbms-113	147	46	changes	change	NOUN
aijbms-113	147	47	on	on	ADP
aijbms-113	147	48	the	the	DET
aijbms-113	147	49	dependent	dependent	ADJ
aijbms-113	147	50	variable	variable	NOUN
aijbms-113	147	51	.	.	PUNCT
aijbms-113	148	1	(	(	PUNCT
aijbms-113	148	2	ii	ii	NOUN
aijbms-113	148	3	)	)	PUNCT
aijbms-113	148	4	correlation	correlation	NOUN
aijbms-113	148	5	coefficient	coefficient	NOUN
aijbms-113	148	6	(	(	PUNCT
aijbms-113	148	7	r	r	NOUN
aijbms-113	148	8	):	):	PUNCT
aijbms-113	148	9	this	this	DET
aijbms-113	148	10	measures	measure	VERB
aijbms-113	148	11	the	the	DET
aijbms-113	148	12	strength	strength	NOUN
aijbms-113	148	13	and	and	CCONJ
aijbms-113	148	14	the	the	DET
aijbms-113	148	15	extent	extent	NOUN
aijbms-113	148	16	to	to	PART
aijbms-113	148	17	which	which	PRON
aijbms-113	148	18	the	the	DET
aijbms-113	148	19	dependent	dependent	ADJ
aijbms-113	148	20	and	and	CCONJ
aijbms-113	148	21	the	the	DET
aijbms-113	148	22	independent	independent	ADJ
aijbms-113	148	23	variable	variable	NOUN
aijbms-113	148	24	are	be	AUX
aijbms-113	148	25	related	relate	VERB
aijbms-113	148	26	.	.	PUNCT
aijbms-113	149	1	(	(	PUNCT
aijbms-113	149	2	iii	iii	X
aijbms-113	149	3	)	)	PUNCT
aijbms-113	149	4	t	t	NOUN
aijbms-113	149	5	-	-	PUNCT
aijbms-113	149	6	test	test	NOUN
aijbms-113	149	7	:	:	PUNCT
aijbms-113	149	8	this	this	PRON
aijbms-113	149	9	is	be	AUX
aijbms-113	149	10	used	use	VERB
aijbms-113	149	11	to	to	PART
aijbms-113	149	12	measure	measure	VERB
aijbms-113	149	13	the	the	DET
aijbms-113	149	14	significance	significance	NOUN
aijbms-113	149	15	of	of	ADP
aijbms-113	149	16	the	the	DET
aijbms-113	149	17	independent	independent	ADJ
aijbms-113	149	18	variables	variable	NOUN
aijbms-113	149	19	to	to	ADP
aijbms-113	149	20	the	the	DET
aijbms-113	149	21	dependent	dependent	ADJ
aijbms-113	149	22	variable	variable	NOUN
aijbms-113	149	23	and	and	CCONJ
aijbms-113	149	24	the	the	DET
aijbms-113	149	25	hypothesis	hypothesis	NOUN
aijbms-113	149	26	was	be	AUX
aijbms-113	149	27	tested	test	VERB
aijbms-113	149	28	at	at	ADP
aijbms-113	149	29	5	5	NUM
aijbms-113	149	30	%	%	NOUN
aijbms-113	149	31	level	level	NOUN
aijbms-113	149	32	of	of	ADP
aijbms-113	149	33	significance	significance	NOUN
aijbms-113	149	34	and	and	CCONJ
aijbms-113	149	35	at	at	ADP
aijbms-113	149	36	95	95	NUM
aijbms-113	149	37	%	%	NOUN
aijbms-113	149	38	confidence	confidence	NOUN
aijbms-113	149	39	interval	interval	NOUN
aijbms-113	149	40	.	.	PUNCT
aijbms-113	150	1	the	the	DET
aijbms-113	150	2	hypothesis	hypothesis	NOUN
aijbms-113	150	3	for	for	ADP
aijbms-113	150	4	this	this	DET
aijbms-113	150	5	test	test	NOUN
aijbms-113	150	6	is	be	AUX
aijbms-113	150	7	stated	state	VERB
aijbms-113	150	8	as	as	SCONJ
aijbms-113	150	9	follows	follow	VERB
aijbms-113	150	10	:	:	PUNCT
aijbms-113	150	11	null	null	ADJ
aijbms-113	150	12	hypotheses	hypothesis	NOUN
aijbms-113	150	13	;	;	PUNCT
aijbms-113	150	14	h0	h0	NOUN
aijbms-113	150	15	:	:	PUNCT
aijbms-113	150	16	β	β	X
aijbms-113	150	17	=	=	SYM
aijbms-113	150	18	0	0	NUM
aijbms-113	150	19	,	,	PUNCT
aijbms-113	150	20	(	(	PUNCT
aijbms-113	150	21	statistically	statistically	ADV
aijbms-113	150	22	not	not	PART
aijbms-113	150	23	significant	significant	ADJ
aijbms-113	150	24	)	)	PUNCT
aijbms-113	150	25	alternate	alternate	ADJ
aijbms-113	150	26	hypotheses	hypothesis	NOUN
aijbms-113	150	27	;	;	PUNCT
aijbms-113	150	28	h1	h1	X
aijbms-113	150	29	:	:	PUNCT
aijbms-113	150	30	β	β	X
aijbms-113	150	31			PROPN
aijbms-113	150	32	0	0	NUM
aijbms-113	150	33	.	.	PUNCT
aijbms-113	151	1	(	(	PUNCT
aijbms-113	151	2	statistically	statistically	ADV
aijbms-113	151	3	significant	significant	ADJ
aijbms-113	151	4	)	)	PUNCT
aijbms-113	151	5	and	and	CCONJ
aijbms-113	151	6	the	the	DET
aijbms-113	151	7	decision	decision	NOUN
aijbms-113	151	8	rule	rule	NOUN
aijbms-113	151	9	states	state	NOUN
aijbms-113	151	10	that	that	SCONJ
aijbms-113	151	11	“	"	PUNCT
aijbms-113	151	12	h0	h0	PROPN
aijbms-113	151	13	”	"	PUNCT
aijbms-113	151	14	should	should	AUX
aijbms-113	151	15	be	be	AUX
aijbms-113	151	16	rejected	reject	VERB
aijbms-113	151	17	when	when	SCONJ
aijbms-113	151	18	t	t	PROPN
aijbms-113	151	19	-	-	PUNCT
aijbms-113	151	20	statistics	statistic	NOUN
aijbms-113	151	21	is	be	AUX
aijbms-113	151	22	greater	great	ADJ
aijbms-113	151	23	than	than	ADP
aijbms-113	151	24	the	the	DET
aijbms-113	151	25	critical	critical	ADJ
aijbms-113	151	26	value	value	NOUN
aijbms-113	151	27	.	.	PUNCT
aijbms-113	152	1	but	but	CCONJ
aijbms-113	152	2	when	when	SCONJ
aijbms-113	152	3	the	the	DET
aijbms-113	152	4	t	t	PROPN
aijbms-113	152	5	-	-	PUNCT
aijbms-113	152	6	statistics	statistic	NOUN
aijbms-113	152	7	is	be	AUX
aijbms-113	152	8	lower	low	ADJ
aijbms-113	152	9	than	than	ADP
aijbms-113	152	10	the	the	DET
aijbms-113	152	11	critical	critical	ADJ
aijbms-113	152	12	value	value	NOUN
aijbms-113	152	13	,	,	PUNCT
aijbms-113	152	14	the	the	DET
aijbms-113	152	15	“	"	PUNCT
aijbms-113	152	16	h0	h0	NOUN
aijbms-113	152	17	”	"	PUNCT
aijbms-113	152	18	is	be	AUX
aijbms-113	152	19	accepted	accept	VERB
aijbms-113	152	20	with	with	ADP
aijbms-113	152	21	its	its	PRON
aijbms-113	152	22	conclusion	conclusion	NOUN
aijbms-113	152	23	.	.	PUNCT
aijbms-113	153	1	(	(	PUNCT
aijbms-113	153	2	iv	iv	X
aijbms-113	153	3	)	)	PUNCT
aijbms-113	153	4	f	f	X
aijbms-113	153	5	-	-	PUNCT
aijbms-113	153	6	test	test	NOUN
aijbms-113	153	7	:	:	PUNCT
aijbms-113	153	8	this	this	PRON
aijbms-113	153	9	is	be	AUX
aijbms-113	153	10	used	use	VERB
aijbms-113	153	11	to	to	PART
aijbms-113	153	12	find	find	VERB
aijbms-113	153	13	out	out	ADP
aijbms-113	153	14	the	the	DET
aijbms-113	153	15	overall	overall	ADJ
aijbms-113	153	16	significance	significance	NOUN
aijbms-113	153	17	of	of	ADP
aijbms-113	153	18	the	the	DET
aijbms-113	153	19	regression	regression	NOUN
aijbms-113	153	20	model	model	NOUN
aijbms-113	153	21	at	at	ADP
aijbms-113	153	22	5	5	NUM
aijbms-113	153	23	%	%	NOUN
aijbms-113	153	24	level	level	NOUN
aijbms-113	153	25	of	of	ADP
aijbms-113	153	26	significance	significance	NOUN
aijbms-113	153	27	.	.	PUNCT
aijbms-113	154	1	the	the	DET
aijbms-113	154	2	hypothesis	hypothesis	NOUN
aijbms-113	154	3	for	for	ADP
aijbms-113	154	4	this	this	DET
aijbms-113	154	5	test	test	NOUN
aijbms-113	154	6	is	be	AUX
aijbms-113	154	7	stated	state	VERB
aijbms-113	154	8	as	as	ADP
aijbms-113	154	9	:	:	PUNCT
aijbms-113	154	10	null	null	ADJ
aijbms-113	154	11	hypotheses	hypothesis	NOUN
aijbms-113	154	12	;	;	PUNCT
aijbms-113	154	13	h0	h0	NOUN
aijbms-113	154	14	:	:	PUNCT
aijbms-113	154	15	β1	β1	PROPN
aijbms-113	154	16	–	–	PUNCT
aijbms-113	154	17	β6	β6	PROPN
aijbms-113	154	18	=	=	SYM
aijbms-113	154	19	0	0	PUNCT
aijbms-113	154	20	(	(	PUNCT
aijbms-113	154	21	all	all	DET
aijbms-113	154	22	slope	slope	NOUN
aijbms-113	154	23	coefficients	coefficient	NOUN
aijbms-113	154	24	are	be	AUX
aijbms-113	154	25	equal	equal	ADJ
aijbms-113	154	26	to	to	ADP
aijbms-113	154	27	zero	zero	NUM
aijbms-113	154	28	)	)	PUNCT
aijbms-113	154	29	alternative	alternative	ADJ
aijbms-113	154	30	hypotheses	hypothesis	NOUN
aijbms-113	154	31	:	:	PUNCT
aijbms-113	154	32	h0	h0	NOUN
aijbms-113	154	33	:	:	PUNCT
aijbms-113	154	34	β1	β1	PROPN
aijbms-113	154	35	–	–	PUNCT
aijbms-113	154	36	β6	β6	PROPN
aijbms-113	154	37			PROPN
aijbms-113	154	38	0	0	NUM
aijbms-113	154	39	(	(	PUNCT
aijbms-113	154	40	all	all	DET
aijbms-113	154	41	slope	slope	NOUN
aijbms-113	154	42	coefficients	coefficient	NOUN
aijbms-113	154	43	are	be	AUX
aijbms-113	154	44	not	not	PART
aijbms-113	154	45	equal	equal	ADJ
aijbms-113	154	46	to	to	ADP
aijbms-113	154	47	zero	zero	NUM
aijbms-113	154	48	)	)	PUNCT
aijbms-113	154	49	the	the	DET
aijbms-113	154	50	decision	decision	NOUN
aijbms-113	154	51	rule	rule	NOUN
aijbms-113	154	52	for	for	ADP
aijbms-113	154	53	this	this	DET
aijbms-113	154	54	test	test	NOUN
aijbms-113	154	55	is	be	AUX
aijbms-113	154	56	that	that	SCONJ
aijbms-113	154	57	“	"	PUNCT
aijbms-113	154	58	h0	h0	PROPN
aijbms-113	154	59	”	"	PUNCT
aijbms-113	154	60	should	should	AUX
aijbms-113	154	61	be	be	AUX
aijbms-113	154	62	rejected	reject	VERB
aijbms-113	154	63	when	when	SCONJ
aijbms-113	154	64	f	f	X
aijbms-113	154	65	-	-	PUNCT
aijbms-113	154	66	statistics	statistic	NOUN
aijbms-113	154	67	is	be	AUX
aijbms-113	154	68	greater	great	ADJ
aijbms-113	154	69	than	than	ADP
aijbms-113	154	70	the	the	DET
aijbms-113	154	71	critical	critical	ADJ
aijbms-113	154	72	value	value	NOUN
aijbms-113	154	73	of	of	ADP
aijbms-113	154	74	f.	f.	PROPN
aijbms-113	155	1	but	but	CCONJ
aijbms-113	155	2	when	when	SCONJ
aijbms-113	155	3	the	the	DET
aijbms-113	155	4	f	f	X
aijbms-113	155	5	-	-	PUNCT
aijbms-113	155	6	statistics	statistic	NOUN
aijbms-113	155	7	is	be	AUX
aijbms-113	155	8	lower	low	ADJ
aijbms-113	155	9	,	,	PUNCT
aijbms-113	155	10	then	then	ADV
aijbms-113	155	11	the	the	DET
aijbms-113	155	12	“	"	PUNCT
aijbms-113	155	13	h0	h0	NOUN
aijbms-113	155	14	”	"	PUNCT
aijbms-113	155	15	is	be	AUX
aijbms-113	155	16	accepted	accept	VERB
aijbms-113	155	17	while	while	SCONJ
aijbms-113	155	18	the	the	DET
aijbms-113	155	19	h1	h1	NOUN
aijbms-113	155	20	is	be	AUX
aijbms-113	155	21	rejected	reject	VERB
aijbms-113	155	22	.	.	PUNCT
aijbms-113	156	1	(	(	PUNCT
aijbms-113	156	2	v	v	NOUN
aijbms-113	156	3	)	)	PUNCT
aijbms-113	156	4	test	test	NOUN
aijbms-113	156	5	for	for	ADP
aijbms-113	156	6	autocorrelation	autocorrelation	NOUN
aijbms-113	156	7	the	the	DET
aijbms-113	156	8	durbin	durbin	PROPN
aijbms-113	156	9	watson	watson	PROPN
aijbms-113	156	10	statistics	statistic	NOUN
aijbms-113	156	11	is	be	AUX
aijbms-113	156	12	used	use	VERB
aijbms-113	156	13	in	in	ADP
aijbms-113	156	14	this	this	DET
aijbms-113	156	15	research	research	NOUN
aijbms-113	156	16	to	to	PART
aijbms-113	156	17	test	test	VERB
aijbms-113	156	18	for	for	ADP
aijbms-113	156	19	the	the	DET
aijbms-113	156	20	presence	presence	NOUN
aijbms-113	156	21	of	of	ADP
aijbms-113	156	22	autocorrelation	autocorrelation	NOUN
aijbms-113	156	23	.	.	PUNCT
aijbms-113	157	1	when	when	SCONJ
aijbms-113	157	2	there	there	PRON
aijbms-113	157	3	is	be	VERB
aijbms-113	157	4	presence	presence	NOUN
aijbms-113	157	5	of	of	ADP
aijbms-113	157	6	autocorrelation	autocorrelation	NOUN
aijbms-113	157	7	,	,	PUNCT
aijbms-113	157	8	the	the	DET
aijbms-113	157	9	first	first	ADJ
aijbms-113	157	10	order	order	NOUN
aijbms-113	157	11	autoregressive	autoregressive	ADJ
aijbms-113	157	12	scheme	scheme	NOUN
aijbms-113	157	13	will	will	AUX
aijbms-113	157	14	be	be	AUX
aijbms-113	157	15	employed	employ	VERB
aijbms-113	157	16	to	to	PART
aijbms-113	157	17	correct	correct	VERB
aijbms-113	157	18	it	it	PRON
aijbms-113	157	19	.	.	PUNCT
aijbms-113	158	1	the	the	DET
aijbms-113	158	2	hypotheses	hypothesis	NOUN
aijbms-113	158	3	states	state	VERB
aijbms-113	158	4	that	that	SCONJ
aijbms-113	158	5	:	:	PUNCT
aijbms-113	158	6	www.acseusa.org/journal/index.php/aijbms	www.acseusa.org/journal/index.php/aijbms	PROPN
aijbms-113	158	7	american	american	PROPN
aijbms-113	158	8	international	international	PROPN
aijbms-113	158	9	journal	journal	PROPN
aijbms-113	158	10	of	of	ADP
aijbms-113	158	11	business	business	NOUN
aijbms-113	158	12	and	and	CCONJ
aijbms-113	158	13	management	management	NOUN
aijbms-113	158	14	studies	study	NOUN
aijbms-113	158	15	vol	vol	NOUN
aijbms-113	158	16	.	.	PROPN
aijbms-113	159	1	1	1	NUM
aijbms-113	159	2	,	,	PUNCT
aijbms-113	159	3	no	no	INTJ
aijbms-113	159	4	.	.	NOUN
aijbms-113	159	5	1	1	NUM
aijbms-113	159	6	;	;	PUNCT
aijbms-113	159	7	2019	2019	NUM
aijbms-113	159	8	54	54	NUM
aijbms-113	159	9	h0	h0	NOUN
aijbms-113	159	10	:	:	PUNCT
aijbms-113	159	11	p	p	X
aijbms-113	159	12	=	=	SYM
aijbms-113	159	13	0	0	PUNCT
aijbms-113	160	1	(	(	PUNCT
aijbms-113	160	2	there	there	PRON
aijbms-113	160	3	is	be	VERB
aijbms-113	160	4	serial	serial	ADJ
aijbms-113	160	5	independence	independence	NOUN
aijbms-113	160	6	in	in	ADP
aijbms-113	160	7	the	the	DET
aijbms-113	160	8	errors	error	NOUN
aijbms-113	160	9	)	)	PUNCT
aijbms-113	160	10	h1	h1	PROPN
aijbms-113	160	11	:	:	PUNCT
aijbms-113	160	12	p	p	X
aijbms-113	160	13	>	>	X
aijbms-113	160	14	0	0	PUNCT
aijbms-113	161	1	(	(	PUNCT
aijbms-113	161	2	there	there	PRON
aijbms-113	161	3	is	be	VERB
aijbms-113	161	4	first	first	ADJ
aijbms-113	161	5	order	order	NOUN
aijbms-113	161	6	(	(	PUNCT
aijbms-113	161	7	ar	ar	NOUN
aijbms-113	161	8	)	)	PUNCT
aijbms-113	161	9	positive	positive	ADJ
aijbms-113	161	10	autocorrelation	autocorrelation	NOUN
aijbms-113	161	11	.	.	PUNCT
aijbms-113	162	1	when	when	SCONJ
aijbms-113	162	2	the	the	DET
aijbms-113	162	3	durbin	durbin	PROPN
aijbms-113	162	4	watson	watson	PROPN
aijbms-113	162	5	statistics	statistic	NOUN
aijbms-113	162	6	(	(	PUNCT
aijbms-113	162	7	dw	dw	NOUN
aijbms-113	162	8	-	-	PUNCT
aijbms-113	162	9	stat	stat	NOUN
aijbms-113	162	10	)	)	PUNCT
aijbms-113	162	11	is	be	AUX
aijbms-113	162	12	lesser	less	ADJ
aijbms-113	162	13	than	than	ADP
aijbms-113	162	14	lower	low	ADJ
aijbms-113	162	15	durbin	durbin	ADJ
aijbms-113	162	16	watson	watson	NOUN
aijbms-113	162	17	(	(	PUNCT
aijbms-113	162	18	dl	dl	PROPN
aijbms-113	162	19	)	)	PUNCT
aijbms-113	162	20	,	,	PUNCT
aijbms-113	162	21	the	the	DET
aijbms-113	162	22	null	null	ADJ
aijbms-113	162	23	hypothesis	hypothesis	NOUN
aijbms-113	162	24	(	(	PUNCT
aijbms-113	162	25	h0	h0	PROPN
aijbms-113	162	26	)	)	PUNCT
aijbms-113	162	27	is	be	AUX
aijbms-113	162	28	being	be	AUX
aijbms-113	162	29	rejected	reject	VERB
aijbms-113	162	30	but	but	CCONJ
aijbms-113	162	31	if	if	SCONJ
aijbms-113	162	32	the	the	DET
aijbms-113	162	33	durbin	durbin	PROPN
aijbms-113	162	34	watson	watson	PROPN
aijbms-113	162	35	statistics	statistic	NOUN
aijbms-113	162	36	is	be	AUX
aijbms-113	162	37	greater	great	ADJ
aijbms-113	162	38	than	than	ADP
aijbms-113	162	39	the	the	DET
aijbms-113	162	40	upper	upper	ADJ
aijbms-113	162	41	durbin	durbin	ADJ
aijbms-113	162	42	watson	watson	PROPN
aijbms-113	162	43	(	(	PUNCT
aijbms-113	162	44	du	du	PROPN
aijbms-113	162	45	)	)	PUNCT
aijbms-113	162	46	,	,	PUNCT
aijbms-113	162	47	the	the	DET
aijbms-113	162	48	null	null	NOUN
aijbms-113	162	49	(	(	PUNCT
aijbms-113	162	50	h0	h0	PROPN
aijbms-113	162	51	)	)	PUNCT
aijbms-113	162	52	is	be	AUX
aijbms-113	162	53	then	then	ADV
aijbms-113	162	54	accepted	accept	VERB
aijbms-113	162	55	.	.	PUNCT
aijbms-113	163	1	analysis	analysis	NOUN
aijbms-113	163	2	and	and	CCONJ
aijbms-113	163	3	discussions	discussion	NOUN
aijbms-113	163	4	of	of	ADP
aijbms-113	163	5	findings	finding	NOUN
aijbms-113	163	6	the	the	DET
aijbms-113	163	7	chapter	chapter	NOUN
aijbms-113	163	8	deals	deal	VERB
aijbms-113	163	9	with	with	ADP
aijbms-113	163	10	the	the	DET
aijbms-113	163	11	presentation	presentation	NOUN
aijbms-113	163	12	and	and	CCONJ
aijbms-113	163	13	analysis	analysis	NOUN
aijbms-113	163	14	of	of	ADP
aijbms-113	163	15	the	the	DET
aijbms-113	163	16	data	datum	NOUN
aijbms-113	163	17	collected	collect	VERB
aijbms-113	163	18	.	.	PUNCT
aijbms-113	164	1	to	to	PART
aijbms-113	164	2	test	test	VERB
aijbms-113	164	3	the	the	DET
aijbms-113	164	4	hypotheses	hypothesis	NOUN
aijbms-113	164	5	of	of	ADP
aijbms-113	164	6	this	this	DET
aijbms-113	164	7	study	study	NOUN
aijbms-113	164	8	,	,	PUNCT
aijbms-113	164	9	a	a	DET
aijbms-113	164	10	multiple	multiple	ADJ
aijbms-113	164	11	regression	regression	NOUN
aijbms-113	164	12	model	model	NOUN
aijbms-113	164	13	is	be	AUX
aijbms-113	164	14	used	use	VERB
aijbms-113	164	15	.	.	PUNCT
aijbms-113	165	1	this	this	PRON
aijbms-113	165	2	is	be	AUX
aijbms-113	165	3	deemed	deem	VERB
aijbms-113	165	4	as	as	ADP
aijbms-113	165	5	suitable	suitable	ADJ
aijbms-113	165	6	due	due	ADP
aijbms-113	165	7	to	to	ADP
aijbms-113	165	8	the	the	DET
aijbms-113	165	9	nature	nature	NOUN
aijbms-113	165	10	of	of	ADP
aijbms-113	165	11	the	the	DET
aijbms-113	165	12	variables	variable	NOUN
aijbms-113	165	13	which	which	PRON
aijbms-113	165	14	are	be	AUX
aijbms-113	165	15	continuous	continuous	ADJ
aijbms-113	165	16	rather	rather	ADV
aijbms-113	165	17	than	than	ADP
aijbms-113	165	18	dichotomous	dichotomous	ADJ
aijbms-113	165	19	categorical	categorical	ADJ
aijbms-113	165	20	variables	variable	NOUN
aijbms-113	165	21	.	.	PUNCT
aijbms-113	166	1	the	the	DET
aijbms-113	166	2	table	table	NOUN
aijbms-113	166	3	that	that	PRON
aijbms-113	166	4	follows	follow	VERB
aijbms-113	166	5	contains	contain	VERB
aijbms-113	166	6	the	the	DET
aijbms-113	166	7	data	datum	NOUN
aijbms-113	166	8	extracted	extract	VERB
aijbms-113	166	9	from	from	ADP
aijbms-113	166	10	the	the	DET
aijbms-113	166	11	financial	financial	ADJ
aijbms-113	166	12	statement	statement	NOUN
aijbms-113	166	13	of	of	ADP
aijbms-113	166	14	the	the	DET
aijbms-113	166	15	quoted	quote	VERB
aijbms-113	166	16	food	food	NOUN
aijbms-113	166	17	and	and	CCONJ
aijbms-113	166	18	beverage	beverage	NOUN
aijbms-113	166	19	firms	firm	NOUN
aijbms-113	166	20	which	which	PRON
aijbms-113	166	21	was	be	AUX
aijbms-113	166	22	used	use	VERB
aijbms-113	166	23	in	in	ADP
aijbms-113	166	24	running	run	VERB
aijbms-113	166	25	the	the	DET
aijbms-113	166	26	regression	regression	NOUN
aijbms-113	166	27	and	and	CCONJ
aijbms-113	166	28	obtaining	obtain	VERB
aijbms-113	166	29	the	the	DET
aijbms-113	166	30	results	result	NOUN
aijbms-113	166	31	of	of	ADP
aijbms-113	166	32	the	the	DET
aijbms-113	166	33	study	study	NOUN
aijbms-113	166	34	.	.	PUNCT
aijbms-113	167	1	multiple	multiple	ADJ
aijbms-113	167	2	regressions	regression	NOUN
aijbms-113	167	3	have	have	AUX
aijbms-113	167	4	been	be	AUX
aijbms-113	167	5	used	use	VERB
aijbms-113	167	6	to	to	PART
aijbms-113	167	7	estimate	estimate	VERB
aijbms-113	167	8	the	the	DET
aijbms-113	167	9	relation	relation	NOUN
aijbms-113	167	10	between	between	ADP
aijbms-113	167	11	the	the	DET
aijbms-113	167	12	independent	independent	ADJ
aijbms-113	167	13	variables	variable	NOUN
aijbms-113	167	14	of	of	ADP
aijbms-113	167	15	the	the	DET
aijbms-113	167	16	study	study	NOUN
aijbms-113	167	17	.	.	PUNCT
aijbms-113	168	1	the	the	DET
aijbms-113	168	2	technique	technique	NOUN
aijbms-113	168	3	of	of	ADP
aijbms-113	168	4	ordinary	ordinary	ADJ
aijbms-113	168	5	least	least	ADJ
aijbms-113	168	6	square	square	NOUN
aijbms-113	168	7	was	be	AUX
aijbms-113	168	8	used	use	VERB
aijbms-113	168	9	to	to	PART
aijbms-113	168	10	estimate	estimate	VERB
aijbms-113	168	11	the	the	DET
aijbms-113	168	12	regression	regression	NOUN
aijbms-113	168	13	coefficient	coefficient	NOUN
aijbms-113	168	14	in	in	ADP
aijbms-113	168	15	the	the	DET
aijbms-113	168	16	model	model	NOUN
aijbms-113	168	17	of	of	ADP
aijbms-113	168	18	the	the	DET
aijbms-113	168	19	study	study	NOUN
aijbms-113	168	20	.	.	PUNCT
aijbms-113	169	1	presentation	presentation	NOUN
aijbms-113	169	2	of	of	ADP
aijbms-113	169	3	results	result	NOUN
aijbms-113	169	4	test	test	NOUN
aijbms-113	169	5	of	of	ADP
aijbms-113	169	6	colinearity	colinearity	NOUN
aijbms-113	169	7	and	and	CCONJ
aijbms-113	169	8	autocorrelation	autocorrelation	NOUN
aijbms-113	169	9	of	of	ADP
aijbms-113	169	10	the	the	DET
aijbms-113	169	11	variables	variable	NOUN
aijbms-113	169	12	table	table	NOUN
aijbms-113	170	1	i	i	PRON
aijbms-113	170	2	:	:	PUNCT
aijbms-113	170	3	tolerance	tolerance	NOUN
aijbms-113	170	4	and	and	CCONJ
aijbms-113	170	5	variance	variance	NOUN
aijbms-113	170	6	inflation	inflation	NOUN
aijbms-113	170	7	factor	factor	NOUN
aijbms-113	170	8	(	(	PUNCT
aijbms-113	170	9	vif	vif	NOUN
aijbms-113	170	10	)	)	PUNCT
aijbms-113	170	11	tolerance	tolerance	NOUN
aijbms-113	170	12	vif	vif	NOUN
aijbms-113	170	13	der	der	PROPN
aijbms-113	170	14	.905	.905	NUM
aijbms-113	170	15	1.104	1.104	NUM
aijbms-113	170	16	dr	dr	PROPN
aijbms-113	170	17	.726	.726	NUM
aijbms-113	170	18	1.378	1.378	NUM
aijbms-113	170	19	er	er	NOUN
aijbms-113	170	20	.746	.746	NUM
aijbms-113	170	21	1.340	1.340	NUM
aijbms-113	170	22	tlr	tlr	PROPN
aijbms-113	170	23	.834	.834	NUM
aijbms-113	170	24	1.198	1.198	NUM
aijbms-113	170	25	ltdr	ltdr	NOUN
aijbms-113	170	26	.823	.823	NUM
aijbms-113	170	27	1.215	1.215	NUM
aijbms-113	170	28	source	source	NOUN
aijbms-113	170	29	:	:	PUNCT
aijbms-113	170	30	spss	spss	PROPN
aijbms-113	170	31	20.0	20.0	NUM
aijbms-113	170	32	the	the	DET
aijbms-113	170	33	tolerance	tolerance	NOUN
aijbms-113	170	34	value	value	NOUN
aijbms-113	170	35	and	and	CCONJ
aijbms-113	170	36	the	the	DET
aijbms-113	170	37	variance	variance	NOUN
aijbms-113	170	38	inflation	inflation	NOUN
aijbms-113	170	39	factor	factor	NOUN
aijbms-113	170	40	(	(	PUNCT
aijbms-113	170	41	vif	vif	NOUN
aijbms-113	170	42	)	)	PUNCT
aijbms-113	170	43	are	be	AUX
aijbms-113	170	44	two	two	NUM
aijbms-113	170	45	advanced	advanced	ADJ
aijbms-113	170	46	measures	measure	NOUN
aijbms-113	170	47	of	of	ADP
aijbms-113	170	48	assessing	assess	VERB
aijbms-113	170	49	multicollinearity	multicollinearity	NOUN
aijbms-113	170	50	between	between	ADP
aijbms-113	170	51	the	the	DET
aijbms-113	170	52	independent	independent	ADJ
aijbms-113	170	53	variables	variable	NOUN
aijbms-113	170	54	of	of	ADP
aijbms-113	170	55	the	the	DET
aijbms-113	170	56	study	study	NOUN
aijbms-113	170	57	.	.	PUNCT
aijbms-113	171	1	in	in	ADP
aijbms-113	171	2	table	table	NOUN
aijbms-113	171	3	4.2	4.2	NUM
aijbms-113	171	4	,	,	PUNCT
aijbms-113	171	5	the	the	DET
aijbms-113	171	6	variance	variance	NOUN
aijbms-113	171	7	inflation	inflation	NOUN
aijbms-113	171	8	factors	factor	NOUN
aijbms-113	171	9	are	be	AUX
aijbms-113	171	10	consistently	consistently	ADV
aijbms-113	171	11	smaller	small	ADJ
aijbms-113	171	12	than	than	ADP
aijbms-113	171	13	ten	ten	NUM
aijbms-113	171	14	indicating	indicate	VERB
aijbms-113	171	15	complete	complete	ADJ
aijbms-113	171	16	absence	absence	NOUN
aijbms-113	171	17	of	of	ADP
aijbms-113	171	18	multicollinearity	multicollinearity	NOUN
aijbms-113	171	19	(	(	PUNCT
aijbms-113	171	20	neter	neter	X
aijbms-113	171	21	et	et	PROPN
aijbms-113	171	22	al	al	PROPN
aijbms-113	171	23	;	;	PUNCT
aijbms-113	171	24	1996	1996	NUM
aijbms-113	171	25	and	and	CCONJ
aijbms-113	171	26	johansen	johansen	PROPN
aijbms-113	171	27	,	,	PUNCT
aijbms-113	171	28	1999	1999	NUM
aijbms-113	171	29	)	)	PUNCT
aijbms-113	171	30	.	.	PUNCT
aijbms-113	172	1	this	this	PRON
aijbms-113	172	2	shows	show	VERB
aijbms-113	172	3	the	the	DET
aijbms-113	172	4	appropriateness	appropriateness	NOUN
aijbms-113	172	5	of	of	ADP
aijbms-113	172	6	fitting	fit	VERB
aijbms-113	172	7	the	the	DET
aijbms-113	172	8	model	model	NOUN
aijbms-113	172	9	of	of	ADP
aijbms-113	172	10	the	the	DET
aijbms-113	172	11	study	study	NOUN
aijbms-113	172	12	within	within	ADP
aijbms-113	172	13	the	the	DET
aijbms-113	172	14	four	four	NUM
aijbms-113	172	15	independent	independent	ADJ
aijbms-113	172	16	variables	variable	NOUN
aijbms-113	172	17	.	.	PUNCT
aijbms-113	173	1	in	in	ADP
aijbms-113	173	2	addition	addition	NOUN
aijbms-113	173	3	,	,	PUNCT
aijbms-113	173	4	the	the	DET
aijbms-113	173	5	tolerance	tolerance	NOUN
aijbms-113	173	6	values	value	NOUN
aijbms-113	173	7	are	be	AUX
aijbms-113	173	8	consistently	consistently	ADV
aijbms-113	173	9	smaller	small	ADJ
aijbms-113	173	10	than	than	ADP
aijbms-113	173	11	1.5	1.5	NUM
aijbms-113	173	12	thus	thus	ADV
aijbms-113	173	13	further	far	ADV
aijbms-113	173	14	substantiating	substantiate	VERB
aijbms-113	173	15	the	the	DET
aijbms-113	173	16	fact	fact	NOUN
aijbms-113	173	17	that	that	SCONJ
aijbms-113	173	18	there	there	PRON
aijbms-113	173	19	is	be	VERB
aijbms-113	173	20	no	no	DET
aijbms-113	173	21	multicollinearity	multicollinearity	NOUN
aijbms-113	173	22	between	between	ADP
aijbms-113	173	23	independent	independent	ADJ
aijbms-113	173	24	variables	variable	NOUN
aijbms-113	173	25	(	(	PUNCT
aijbms-113	173	26	tobachmel	tobachmel	NOUN
aijbms-113	173	27	and	and	CCONJ
aijbms-113	173	28	fidell	fidell	NOUN
aijbms-113	173	29	,	,	PUNCT
aijbms-113	173	30	1996	1996	NUM
aijbms-113	173	31	)	)	PUNCT
aijbms-113	173	32	.	.	PUNCT
aijbms-113	174	1	table	table	NOUN
aijbms-113	174	2	ii	ii	PROPN
aijbms-113	174	3	:	:	PUNCT
aijbms-113	174	4	durbin	durbin	PROPN
aijbms-113	174	5	watson	watson	PROPN
aijbms-113	174	6	and	and	CCONJ
aijbms-113	174	7	autocorrelation	autocorrelation	NOUN
aijbms-113	174	8	test	test	NOUN
aijbms-113	174	9	variables	variable	NOUN
aijbms-113	174	10	eigen	eigen	PROPN
aijbms-113	174	11	value	value	NOUN
aijbms-113	174	12	condition	condition	NOUN
aijbms-113	174	13	index	index	NOUN
aijbms-113	174	14	constant	constant	ADJ
aijbms-113	174	15	der	der	NOUN
aijbms-113	174	16	dr	dr	PROPN
aijbms-113	174	17	er	er	INTJ
aijbms-113	174	18	tlr	tlr	PROPN
aijbms-113	174	19	ltdr	ltdr	PROPN
aijbms-113	174	20	1	1	NUM
aijbms-113	174	21	5.912	5.912	NUM
aijbms-113	174	22	1.000	1.000	NUM
aijbms-113	174	23	.00	.00	NUM
aijbms-113	174	24	.00	.00	NUM
aijbms-113	174	25	.00	.00	NUM
aijbms-113	174	26	.00	.00	NUM
aijbms-113	174	27	.00	.00	NUM
aijbms-113	174	28	.00	.00	NUM
aijbms-113	174	29	2	2	NUM
aijbms-113	174	30	.046	.046	NUM
aijbms-113	174	31	11.290	11.290	NUM
aijbms-113	174	32	.06	.06	NUM
aijbms-113	174	33	.06	.06	NUM
aijbms-113	174	34	.00	.00	NUM
aijbms-113	174	35	.77	.77	NUM
aijbms-113	174	36	.00	.00	NUM
aijbms-113	174	37	.00	.00	NUM
aijbms-113	174	38	3	3	NUM
aijbms-113	174	39	.024	.024	NUM
aijbms-113	174	40	15.703	15.703	NUM
aijbms-113	174	41	.70	.70	NUM
aijbms-113	174	42	.70	.70	NUM
aijbms-113	174	43	.00	.00	NUM
aijbms-113	174	44	.06	.06	NUM
aijbms-113	174	45	.10	.10	NUM
aijbms-113	174	46	.01	.01	NUM
aijbms-113	174	47	4	4	NUM
aijbms-113	174	48	.013	.013	NUM
aijbms-113	174	49	21.342	21.342	NUM
aijbms-113	174	50	.09	.09	NUM
aijbms-113	174	51	.09	.09	NUM
aijbms-113	174	52	.07	.07	NUM
aijbms-113	174	53	.01	.01	NUM
aijbms-113	174	54	.58	.58	NUM
aijbms-113	174	55	.03	.03	NUM
aijbms-113	174	56	5	5	NUM
aijbms-113	174	57	.003	.003	NUM
aijbms-113	174	58	44.193	44.193	NUM
aijbms-113	174	59	.02	.02	NUM
aijbms-113	174	60	.02	.02	NUM
aijbms-113	174	61	.90	.90	NUM
aijbms-113	174	62	.10	.10	NUM
aijbms-113	174	63	.11	.11	NUM
aijbms-113	174	64	.27	.27	NUM
aijbms-113	174	65	6	6	NUM
aijbms-113	174	66	.001	.001	NUM
aijbms-113	174	67	70.018	70.018	NUM
aijbms-113	174	68	.12	.12	NUM
aijbms-113	174	69	.12	.12	NUM
aijbms-113	174	70	.12	.12	NUM
aijbms-113	174	71	.06	.06	NUM
aijbms-113	174	72	.22	.22	NUM
aijbms-113	174	73	.70	.70	NUM
aijbms-113	174	74	durbin	durbin	PROPN
aijbms-113	174	75	watson	watson	PROPN
aijbms-113	174	76	model	model	NOUN
aijbms-113	174	77	2.402	2.402	NUM
aijbms-113	174	78	source	source	NOUN
aijbms-113	174	79	:	:	PUNCT
aijbms-113	174	80	spss	spss	PROPN
aijbms-113	174	81	20.0	20.0	NUM
aijbms-113	174	82	the	the	DET
aijbms-113	174	83	table	table	NOUN
aijbms-113	174	84	above	above	ADP
aijbms-113	174	85	illustrated	illustrate	VERB
aijbms-113	174	86	a	a	DET
aijbms-113	174	87	co	co	X
aijbms-113	174	88	linearity	linearity	NOUN
aijbms-113	174	89	and	and	CCONJ
aijbms-113	174	90	autocorrelation	autocorrelation	NOUN
aijbms-113	174	91	;	;	PUNCT
aijbms-113	174	92	the	the	DET
aijbms-113	174	93	results	result	NOUN
aijbms-113	174	94	found	find	VERB
aijbms-113	174	95	that	that	SCONJ
aijbms-113	174	96	the	the	DET
aijbms-113	174	97	eigen	eigen	PROPN
aijbms-113	174	98	values	value	NOUN
aijbms-113	174	99	that	that	PRON
aijbms-113	174	100	correspond	correspond	VERB
aijbms-113	174	101	with	with	ADP
aijbms-113	174	102	the	the	DET
aijbms-113	174	103	highest	high	ADJ
aijbms-113	174	104	condition	condition	NOUN
aijbms-113	174	105	index	index	NOUN
aijbms-113	174	106	and	and	CCONJ
aijbms-113	174	107	variance	variance	NOUN
aijbms-113	174	108	constants	constant	NOUN
aijbms-113	174	109	are	be	AUX
aijbms-113	174	110	less	less	ADJ
aijbms-113	174	111	than	than	ADP
aijbms-113	174	112	0.5	0.5	NUM
aijbms-113	174	113	rule	rule	NOUN
aijbms-113	174	114	of	of	ADP
aijbms-113	174	115	the	the	DET
aijbms-113	174	116	thumb	thumb	NOUN
aijbms-113	174	117	.	.	PUNCT
aijbms-113	175	1	the	the	DET
aijbms-113	175	2	durbin	durbin	PROPN
aijbms-113	175	3	watson	watson	PROPN
aijbms-113	175	4	statistics	statistic	NOUN
aijbms-113	175	5	of	of	ADP
aijbms-113	175	6	2.402	2.402	NUM
aijbms-113	175	7	shows	show	VERB
aijbms-113	175	8	the	the	DET
aijbms-113	175	9	absence	absence	NOUN
aijbms-113	175	10	of	of	ADP
aijbms-113	175	11	multicolinearity	multicolinearity	NOUN
aijbms-113	175	12	,	,	PUNCT
aijbms-113	175	13	portraying	portray	VERB
aijbms-113	175	14	a	a	DET
aijbms-113	175	15	significant	significant	ADJ
aijbms-113	175	16	relationship	relationship	NOUN
aijbms-113	175	17	between	between	ADP
aijbms-113	175	18	the	the	DET
aijbms-113	175	19	dependent	dependent	ADJ
aijbms-113	175	20	and	and	CCONJ
aijbms-113	175	21	the	the	DET
aijbms-113	175	22	independent	independent	ADJ
aijbms-113	175	23	variables	variable	NOUN
aijbms-113	175	24	in	in	ADP
aijbms-113	175	25	the	the	DET
aijbms-113	175	26	model	model	NOUN
aijbms-113	175	27	.	.	PUNCT
aijbms-113	176	1	www.acseusa.org/journal/index.php/aijbms	www.acseusa.org/journal/index.php/aijbms	PROPN
aijbms-113	176	2	american	american	PROPN
aijbms-113	176	3	international	international	PROPN
aijbms-113	176	4	journal	journal	PROPN
aijbms-113	176	5	of	of	ADP
aijbms-113	176	6	business	business	NOUN
aijbms-113	176	7	and	and	CCONJ
aijbms-113	176	8	management	management	NOUN
aijbms-113	176	9	studies	study	NOUN
aijbms-113	176	10	vol	vol	NOUN
aijbms-113	176	11	.	.	PROPN
aijbms-113	177	1	1	1	NUM
aijbms-113	177	2	,	,	PUNCT
aijbms-113	177	3	no	no	INTJ
aijbms-113	177	4	.	.	NOUN
aijbms-113	177	5	1	1	NUM
aijbms-113	177	6	;	;	PUNCT
aijbms-113	177	7	2019	2019	NUM
aijbms-113	177	8	55	55	NUM
aijbms-113	177	9	table	table	NOUN
aijbms-113	177	10	4	4	NUM
aijbms-113	177	11	correlation	correlation	NOUN
aijbms-113	177	12	matrices	matrix	NOUN
aijbms-113	177	13	of	of	ADP
aijbms-113	177	14	coefficient	coefficient	NOUN
aijbms-113	177	15	of	of	ADP
aijbms-113	177	16	the	the	DET
aijbms-113	177	17	variables	variable	NOUN
aijbms-113	177	18	roa	roa	PROPN
aijbms-113	177	19	der	der	PROPN
aijbms-113	177	20	dr	dr	PROPN
aijbms-113	177	21	er	er	PROPN
aijbms-113	177	22	tlr	tlr	PROPN
aijbms-113	177	23	ltdr	ltdr	PROPN
aijbms-113	177	24	roa	roa	PROPN
aijbms-113	177	25	1.000	1.000	NUM
aijbms-113	177	26	der	der	NOUN
aijbms-113	177	27	.186	.186	NUM
aijbms-113	177	28	1.000	1.000	NUM
aijbms-113	177	29	dr	dr	PROPN
aijbms-113	177	30	.184	.184	NUM
aijbms-113	177	31	.169	.169	NUM
aijbms-113	177	32	1.000	1.000	NUM
aijbms-113	177	33	er	er	INTJ
aijbms-113	177	34	0.43	0.43	NUM
aijbms-113	177	35	.091	.091	NUM
aijbms-113	177	36	.357	.357	NUM
aijbms-113	177	37	1.000	1.000	NUM
aijbms-113	177	38	tlr	tlr	PROPN
aijbms-113	177	39	-.164	-.164	PROPN
aijbms-113	177	40	-.063	-.063	PROPN
aijbms-113	177	41	-.122	-.122	PROPN
aijbms-113	177	42	.300	.300	NUM
aijbms-113	177	43	1.000	1.000	NUM
aijbms-113	177	44	ltdr	ltdr	NOUN
aijbms-113	177	45	.056	.056	NUM
aijbms-113	177	46	-.169	-.169	PROPN
aijbms-113	177	47	.333	.333	NUM
aijbms-113	177	48	.144	.144	NUM
aijbms-113	178	1	-.121	-.121	NUM
aijbms-113	178	2	1.000	1.000	NUM
aijbms-113	178	3	source	source	NOUN
aijbms-113	178	4	:	:	PUNCT
aijbms-113	178	5	spss	spss	PROPN
aijbms-113	178	6	20.0	20.0	NUM
aijbms-113	178	7	when	when	SCONJ
aijbms-113	178	8	explanatory	explanatory	ADJ
aijbms-113	178	9	variables	variable	NOUN
aijbms-113	178	10	in	in	ADP
aijbms-113	178	11	the	the	DET
aijbms-113	178	12	model	model	NOUN
aijbms-113	178	13	have	have	VERB
aijbms-113	178	14	correlation	correlation	NOUN
aijbms-113	178	15	of	of	ADP
aijbms-113	178	16	sufficient	sufficient	ADJ
aijbms-113	178	17	magnitude	magnitude	NOUN
aijbms-113	178	18	to	to	PART
aijbms-113	178	19	negatively	negatively	ADV
aijbms-113	178	20	impact	impact	VERB
aijbms-113	178	21	the	the	DET
aijbms-113	178	22	model	model	NOUN
aijbms-113	178	23	especially	especially	ADV
aijbms-113	178	24	beta	beta	ADJ
aijbms-113	178	25	weight	weight	NOUN
aijbms-113	178	26	(	(	PUNCT
aijbms-113	178	27	via	via	ADP
aijbms-113	178	28	standard	standard	ADJ
aijbms-113	178	29	errors	error	NOUN
aijbms-113	178	30	and	and	CCONJ
aijbms-113	178	31	statistical	statistical	ADJ
aijbms-113	178	32	significance	significance	NOUN
aijbms-113	178	33	levels	level	NOUN
aijbms-113	178	34	associated	associate	VERB
aijbms-113	178	35	with	with	ADP
aijbms-113	178	36	beta	beta	NOUN
aijbms-113	178	37	weight	weight	NOUN
aijbms-113	178	38	)	)	PUNCT
aijbms-113	178	39	,	,	PUNCT
aijbms-113	178	40	we	we	PRON
aijbms-113	178	41	say	say	VERB
aijbms-113	178	42	there	there	PRON
aijbms-113	178	43	exists	exist	VERB
aijbms-113	178	44	collinearity	collinearity	NOUN
aijbms-113	178	45	or	or	CCONJ
aijbms-113	178	46	multi	multi	ADJ
aijbms-113	178	47	collinearity	collinearity	NOUN
aijbms-113	178	48	.	.	PUNCT
aijbms-113	179	1	according	accord	VERB
aijbms-113	179	2	to	to	ADP
aijbms-113	179	3	gujarati	gujarati	PROPN
aijbms-113	179	4	(	(	PUNCT
aijbms-113	179	5	2004).if	2004).if	NUM
aijbms-113	179	6	multicollinearity	multicollinearity	NOUN
aijbms-113	179	7	is	be	AUX
aijbms-113	179	8	perfect	perfect	ADJ
aijbms-113	179	9	in	in	ADP
aijbms-113	179	10	the	the	DET
aijbms-113	179	11	sense	sense	NOUN
aijbms-113	179	12	of	of	ADP
aijbms-113	179	13	(	(	PUNCT
aijbms-113	179	14	exact	exact	ADJ
aijbms-113	179	15	linear	linear	ADJ
aijbms-113	179	16	relationship	relationship	NOUN
aijbms-113	179	17	among	among	ADP
aijbms-113	179	18	variables	variable	NOUN
aijbms-113	179	19	)	)	PUNCT
aijbms-113	179	20	,	,	PUNCT
aijbms-113	179	21	the	the	DET
aijbms-113	179	22	regression	regression	NOUN
aijbms-113	179	23	coefficients	coefficient	NOUN
aijbms-113	179	24	of	of	ADP
aijbms-113	179	25	the	the	DET
aijbms-113	179	26	x	x	PROPN
aijbms-113	179	27	variables	variable	NOUN
aijbms-113	179	28	are	be	AUX
aijbms-113	179	29	indeterminate	indeterminate	ADJ
aijbms-113	179	30	and	and	CCONJ
aijbms-113	179	31	their	their	PRON
aijbms-113	179	32	standard	standard	ADJ
aijbms-113	179	33	errors	error	NOUN
aijbms-113	179	34	are	be	AUX
aijbms-113	179	35	infinite	infinite	ADJ
aijbms-113	179	36	.	.	PUNCT
aijbms-113	180	1	if	if	SCONJ
aijbms-113	180	2	multicollinearity	multicollinearity	NOUN
aijbms-113	180	3	is	be	AUX
aijbms-113	180	4	less	less	ADJ
aijbms-113	180	5	than	than	ADP
aijbms-113	180	6	perfect	perfect	ADJ
aijbms-113	180	7	,	,	PUNCT
aijbms-113	180	8	as	as	ADP
aijbms-113	180	9	in	in	ADP
aijbms-113	180	10	(	(	PUNCT
aijbms-113	180	11	explanatory	explanatory	ADJ
aijbms-113	180	12	variable	variable	NOUN
aijbms-113	180	13	are	be	AUX
aijbms-113	180	14	intercorrelated	intercorrelate	VERB
aijbms-113	180	15	but	but	CCONJ
aijbms-113	180	16	not	not	PART
aijbms-113	180	17	perfectly	perfectly	ADV
aijbms-113	180	18	)	)	PUNCT
aijbms-113	180	19	,	,	PUNCT
aijbms-113	180	20	the	the	DET
aijbms-113	180	21	regression	regression	NOUN
aijbms-113	180	22	coefficients	coefficient	NOUN
aijbms-113	180	23	,	,	PUNCT
aijbms-113	180	24	although	although	SCONJ
aijbms-113	180	25	determinate	determinate	ADJ
aijbms-113	180	26	,	,	PUNCT
aijbms-113	180	27	possess	possess	VERB
aijbms-113	180	28	large	large	ADJ
aijbms-113	180	29	standard	standard	ADJ
aijbms-113	180	30	errors	error	NOUN
aijbms-113	180	31	(	(	PUNCT
aijbms-113	180	32	in	in	ADP
aijbms-113	180	33	relation	relation	NOUN
aijbms-113	180	34	to	to	ADP
aijbms-113	180	35	the	the	DET
aijbms-113	180	36	coefficients	coefficient	NOUN
aijbms-113	180	37	themselves	themselves	PRON
aijbms-113	180	38	)	)	PUNCT
aijbms-113	180	39	,	,	PUNCT
aijbms-113	180	40	which	which	PRON
aijbms-113	180	41	means	mean	VERB
aijbms-113	180	42	the	the	DET
aijbms-113	180	43	coefficients	coefficient	NOUN
aijbms-113	180	44	can	can	AUX
aijbms-113	180	45	not	not	PART
aijbms-113	180	46	be	be	AUX
aijbms-113	180	47	estimated	estimate	VERB
aijbms-113	180	48	with	with	ADP
aijbms-113	180	49	great	great	ADJ
aijbms-113	180	50	precision	precision	NOUN
aijbms-113	180	51	or	or	CCONJ
aijbms-113	180	52	accuracy	accuracy	NOUN
aijbms-113	180	53	.	.	PUNCT
aijbms-113	181	1	a	a	DET
aijbms-113	181	2	prior	prior	ADJ
aijbms-113	181	3	correlation	correlation	NOUN
aijbms-113	181	4	analysis	analysis	NOUN
aijbms-113	181	5	was	be	AUX
aijbms-113	181	6	carried	carry	VERB
aijbms-113	181	7	out	out	ADP
aijbms-113	181	8	of	of	ADP
aijbms-113	181	9	the	the	DET
aijbms-113	181	10	variables	variable	NOUN
aijbms-113	181	11	in	in	ADP
aijbms-113	181	12	order	order	NOUN
aijbms-113	181	13	to	to	PART
aijbms-113	181	14	detect	detect	VERB
aijbms-113	181	15	multicollinearity	multicollinearity	NOUN
aijbms-113	181	16	problems	problem	NOUN
aijbms-113	181	17	and	and	CCONJ
aijbms-113	181	18	mitigate	mitigate	VERB
aijbms-113	181	19	against	against	ADP
aijbms-113	181	20	the	the	DET
aijbms-113	181	21	possible	possible	ADJ
aijbms-113	181	22	effects	effect	NOUN
aijbms-113	181	23	it	it	PRON
aijbms-113	181	24	could	could	AUX
aijbms-113	181	25	have	have	VERB
aijbms-113	181	26	on	on	ADP
aijbms-113	181	27	the	the	DET
aijbms-113	181	28	study	study	NOUN
aijbms-113	181	29	.	.	PUNCT
aijbms-113	182	1	gujarati	gujarati	PROPN
aijbms-113	182	2	(	(	PUNCT
aijbms-113	182	3	2004	2004	NUM
aijbms-113	182	4	)	)	PUNCT
aijbms-113	182	5	,	,	PUNCT
aijbms-113	182	6	explained	explain	VERB
aijbms-113	182	7	the	the	DET
aijbms-113	182	8	existence	existence	NOUN
aijbms-113	182	9	of	of	ADP
aijbms-113	182	10	collinearity	collinearity	NOUN
aijbms-113	182	11	if	if	SCONJ
aijbms-113	182	12	the	the	DET
aijbms-113	182	13	pair	pair	NOUN
aijbms-113	182	14	-	-	PUNCT
aijbms-113	182	15	wise	wise	ADJ
aijbms-113	182	16	correlation	correlation	NOUN
aijbms-113	182	17	coefficient	coefficient	NOUN
aijbms-113	182	18	is	be	AUX
aijbms-113	182	19	high	high	ADJ
aijbms-113	182	20	,	,	PUNCT
aijbms-113	182	21	and	and	CCONJ
aijbms-113	182	22	established	establish	VERB
aijbms-113	182	23	a	a	DET
aijbms-113	182	24	threshold	threshold	NOUN
aijbms-113	182	25	of	of	ADP
aijbms-113	182	26	0.5	0.5	NUM
aijbms-113	182	27	and	and	CCONJ
aijbms-113	182	28	below	below	ADV
aijbms-113	182	29	to	to	PART
aijbms-113	182	30	explain	explain	VERB
aijbms-113	182	31	the	the	DET
aijbms-113	182	32	acceptability	acceptability	NOUN
aijbms-113	182	33	of	of	ADP
aijbms-113	182	34	use	use	NOUN
aijbms-113	182	35	of	of	ADP
aijbms-113	182	36	the	the	DET
aijbms-113	182	37	variable	variable	NOUN
aijbms-113	182	38	in	in	ADP
aijbms-113	182	39	the	the	DET
aijbms-113	182	40	model	model	NOUN
aijbms-113	182	41	.	.	PUNCT
aijbms-113	183	1	the	the	DET
aijbms-113	183	2	researcher	researcher	NOUN
aijbms-113	183	3	therefore	therefore	ADV
aijbms-113	183	4	set	set	VERB
aijbms-113	183	5	a	a	DET
aijbms-113	183	6	margin	margin	NOUN
aijbms-113	183	7	of	of	ADP
aijbms-113	183	8	below	below	ADP
aijbms-113	183	9	0.5	0.5	NUM
aijbms-113	183	10	(	(	PUNCT
aijbms-113	183	11	-0.5	-0.5	NOUN
aijbms-113	183	12	)	)	PUNCT
aijbms-113	183	13	to	to	PART
aijbms-113	183	14	show	show	VERB
aijbms-113	183	15	weak	weak	ADJ
aijbms-113	183	16	linear	linear	ADJ
aijbms-113	183	17	correlation	correlation	NOUN
aijbms-113	183	18	(	(	PUNCT
aijbms-113	183	19	positive	positive	ADJ
aijbms-113	183	20	or	or	CCONJ
aijbms-113	183	21	negative	negative	ADJ
aijbms-113	183	22	)	)	PUNCT
aijbms-113	183	23	between	between	ADP
aijbms-113	183	24	variables	variable	NOUN
aijbms-113	183	25	,	,	PUNCT
aijbms-113	183	26	hence	hence	ADV
aijbms-113	183	27	higher	high	ADJ
aijbms-113	183	28	degree	degree	NOUN
aijbms-113	183	29	of	of	ADP
aijbms-113	183	30	acceptability	acceptability	NOUN
aijbms-113	183	31	for	for	ADP
aijbms-113	183	32	use	use	NOUN
aijbms-113	183	33	in	in	ADP
aijbms-113	183	34	the	the	DET
aijbms-113	183	35	model	model	NOUN
aijbms-113	183	36	due	due	ADP
aijbms-113	183	37	to	to	ADP
aijbms-113	183	38	weak	weak	ADJ
aijbms-113	183	39	possibility	possibility	NOUN
aijbms-113	183	40	of	of	ADP
aijbms-113	183	41	multi	multi	NOUN
aijbms-113	183	42	-	-	NOUN
aijbms-113	183	43	collinearity	collinearity	NOUN
aijbms-113	183	44	.	.	PUNCT
aijbms-113	184	1	between	between	ADP
aijbms-113	184	2	0.5	0.5	NUM
aijbms-113	184	3	(	(	PUNCT
aijbms-113	184	4	-0.5	-0.5	NOUN
aijbms-113	184	5	)	)	PUNCT
aijbms-113	184	6	to	to	ADP
aijbms-113	184	7	0.8	0.8	NUM
aijbms-113	184	8	(	(	PUNCT
aijbms-113	184	9	-0.8	-0.8	NUM
aijbms-113	184	10	)	)	PUNCT
aijbms-113	184	11	indicates	indicate	VERB
aijbms-113	184	12	a	a	DET
aijbms-113	184	13	moderate	moderate	ADJ
aijbms-113	184	14	collinearity	collinearity	NOUN
aijbms-113	184	15	and	and	CCONJ
aijbms-113	184	16	0.8	0.8	NUM
aijbms-113	184	17	to	to	PART
aijbms-113	184	18	1.0	1.0	NUM
aijbms-113	184	19	strong	strong	ADJ
aijbms-113	184	20	multicollinearity	multicollinearity	NOUN
aijbms-113	184	21	and	and	CCONJ
aijbms-113	184	22	low	low	ADJ
aijbms-113	184	23	acceptability	acceptability	NOUN
aijbms-113	184	24	to	to	PART
aijbms-113	184	25	include	include	VERB
aijbms-113	184	26	the	the	DET
aijbms-113	184	27	variables	variable	NOUN
aijbms-113	184	28	within	within	ADP
aijbms-113	184	29	the	the	DET
aijbms-113	184	30	same	same	ADJ
aijbms-113	184	31	models	model	NOUN
aijbms-113	184	32	.	.	PUNCT
aijbms-113	185	1	there	there	PRON
aijbms-113	185	2	is	be	VERB
aijbms-113	185	3	no	no	DET
aijbms-113	185	4	clear	clear	ADJ
aijbms-113	185	5	method	method	NOUN
aijbms-113	185	6	to	to	PART
aijbms-113	185	7	employ	employ	VERB
aijbms-113	185	8	to	to	PART
aijbms-113	185	9	eliminate	eliminate	VERB
aijbms-113	185	10	multicollinearity	multicollinearity	NOUN
aijbms-113	185	11	,	,	PUNCT
aijbms-113	185	12	but	but	CCONJ
aijbms-113	185	13	expansion	expansion	NOUN
aijbms-113	185	14	of	of	ADP
aijbms-113	185	15	observations	observation	NOUN
aijbms-113	185	16	,	,	PUNCT
aijbms-113	185	17	aggregating	aggregate	VERB
aijbms-113	185	18	similar	similar	ADJ
aijbms-113	185	19	variables	variable	NOUN
aijbms-113	185	20	,	,	PUNCT
aijbms-113	185	21	and	and	CCONJ
aijbms-113	185	22	eliminating	eliminate	VERB
aijbms-113	185	23	redundant	redundant	ADJ
aijbms-113	185	24	variables	variable	NOUN
aijbms-113	185	25	from	from	ADP
aijbms-113	185	26	the	the	DET
aijbms-113	185	27	equation	equation	NOUN
aijbms-113	185	28	,	,	PUNCT
aijbms-113	185	29	and	and	CCONJ
aijbms-113	185	30	so	so	ADV
aijbms-113	185	31	on	on	ADV
aijbms-113	185	32	,	,	PUNCT
aijbms-113	185	33	may	may	AUX
aijbms-113	185	34	reduce	reduce	VERB
aijbms-113	185	35	the	the	DET
aijbms-113	185	36	problem	problem	NOUN
aijbms-113	185	37	of	of	ADP
aijbms-113	185	38	multicollinearity	multicollinearity	NOUN
aijbms-113	185	39	.	.	PUNCT
aijbms-113	186	1	however	however	ADV
aijbms-113	186	2	,	,	PUNCT
aijbms-113	186	3	variables	variable	NOUN
aijbms-113	186	4	need	need	VERB
aijbms-113	186	5	not	not	PART
aijbms-113	186	6	to	to	PART
aijbms-113	186	7	be	be	AUX
aijbms-113	186	8	eliminated	eliminate	VERB
aijbms-113	186	9	from	from	ADP
aijbms-113	186	10	the	the	DET
aijbms-113	186	11	model	model	NOUN
aijbms-113	186	12	due	due	ADP
aijbms-113	186	13	to	to	ADP
aijbms-113	186	14	multicollinearity	multicollinearity	NOUN
aijbms-113	186	15	problems	problem	NOUN
aijbms-113	186	16	,	,	PUNCT
aijbms-113	186	17	because	because	SCONJ
aijbms-113	186	18	each	each	DET
aijbms-113	186	19	explanatory	explanatory	ADJ
aijbms-113	186	20	variable	variable	NOUN
aijbms-113	186	21	has	have	VERB
aijbms-113	186	22	a	a	DET
aijbms-113	186	23	special	special	ADJ
aijbms-113	186	24	piece	piece	NOUN
aijbms-113	186	25	of	of	ADP
aijbms-113	186	26	information	information	NOUN
aijbms-113	186	27	about	about	ADP
aijbms-113	186	28	the	the	DET
aijbms-113	186	29	dependent	dependent	ADJ
aijbms-113	186	30	variable	variable	NOUN
aijbms-113	186	31	.	.	PUNCT
aijbms-113	187	1	table	table	NOUN
aijbms-113	187	2	5	5	NUM
aijbms-113	187	3	effect	effect	NOUN
aijbms-113	187	4	of	of	ADP
aijbms-113	187	5	financial	financial	ADJ
aijbms-113	187	6	leverage	leverage	NOUN
aijbms-113	187	7	on	on	ADP
aijbms-113	187	8	return	return	NOUN
aijbms-113	187	9	on	on	ADP
aijbms-113	187	10	assets	asset	NOUN
aijbms-113	187	11	variables	variable	NOUN
aijbms-113	187	12	coefficient	coefficient	VERB
aijbms-113	187	13	der	der	NOUN
aijbms-113	187	14	dr	dr	PROPN
aijbms-113	187	15	er	er	PROPN
aijbms-113	187	16	tlr	tlr	PROPN
aijbms-113	187	17	ltdr	ltdr	PROPN
aijbms-113	187	18	unstandardized	unstandardize	VERB
aijbms-113	187	19	beta	beta	ADJ
aijbms-113	187	20	.556	.556	NUM
aijbms-113	187	21	-47.872	-47.872	PROPN
aijbms-113	187	22	-10.984	-10.984	PROPN
aijbms-113	187	23	-97.310	-97.310	PROPN
aijbms-113	187	24	.256	.256	NUM
aijbms-113	187	25	std	std	NOUN
aijbms-113	187	26	error	error	NOUN
aijbms-113	187	27	.799	.799	NUM
aijbms-113	187	28	120.830	120.830	NUM
aijbms-113	187	29	176.097	176.097	NUM
aijbms-113	187	30	423.200	423.200	NUM
aijbms-113	187	31	.388	.388	NUM
aijbms-113	187	32	standardized	standardize	VERB
aijbms-113	187	33	beta	beta	NOUN
aijbms-113	187	34	.157	.157	NUM
aijbms-113	187	35	-0.50	-0.50	PROPN
aijbms-113	187	36	-.008	-.008	PROPN
aijbms-113	187	37	-0.037	-0.037	PUNCT
aijbms-113	187	38	.256	.256	NUM
aijbms-113	187	39	t	t	PROPN
aijbms-113	187	40	-	-	PUNCT
aijbms-113	187	41	statistics	statistic	NOUN
aijbms-113	187	42	.695	.695	NUM
aijbms-113	187	43	-3.96	-3.96	NUM
aijbms-113	188	1	-.062	-.062	NUM
aijbms-113	188	2	-.230	-.230	INTJ
aijbms-113	188	3	-.162	-.162	PROPN
aijbms-113	188	4	sig	sig	PROPN
aijbms-113	188	5	.	.	PUNCT
aijbms-113	189	1	t	t	PROPN
aijbms-113	189	2	.495	.495	NUM
aijbms-113	189	3	.730	.730	NUM
aijbms-113	189	4	.956	.956	NUM
aijbms-113	189	5	.840	.840	NUM
aijbms-113	190	1	-.898	-.898	PROPN
aijbms-113	190	2	constant	constant	ADJ
aijbms-113	190	3	α0	α0	PROPN
aijbms-113	190	4	242.032	242.032	NUM
aijbms-113	190	5	,	,	PUNCT
aijbms-113	190	6	t	t	PROPN
aijbms-113	190	7	=	=	SYM
aijbms-113	190	8	1.653	1.653	NUM
aijbms-113	190	9	,	,	PUNCT
aijbms-113	190	10	t	t	PROPN
aijbms-113	190	11	-	-	PUNCT
aijbms-113	190	12	sig	sig	NOUN
aijbms-113	190	13	=	=	NOUN
aijbms-113	190	14	.114	.114	NUM
aijbms-113	190	15	,	,	PUNCT
aijbms-113	190	16	r	r	NOUN
aijbms-113	190	17	.872	.872	NOUN
aijbms-113	190	18	,	,	PUNCT
aijbms-113	190	19	r2	r2	PROPN
aijbms-113	190	20	=	=	PUNCT
aijbms-113	190	21	.678	.678	NUM
aijbms-113	190	22	,	,	PUNCT
aijbms-113	190	23	adj	adj	PROPN
aijbms-113	190	24	r2	r2	PROPN
aijbms-113	190	25	=	=	PUNCT
aijbms-113	190	26	.453	.453	NUM
aijbms-113	190	27	f	f	PROPN
aijbms-113	190	28	ratio	ratio	NOUN
aijbms-113	190	29	=	=	SYM
aijbms-113	190	30	8.338	8.338	NUM
aijbms-113	190	31	,	,	PUNCT
aijbms-113	190	32	f.sig	f.sig	PRON
aijbms-113	190	33	=	=	SYM
aijbms-113	190	34	.004	.004	NUM
aijbms-113	190	35	source	source	NOUN
aijbms-113	190	36	:	:	PUNCT
aijbms-113	190	37	spss	spss	PROPN
aijbms-113	190	38	20.0	20.0	NUM
aijbms-113	190	39	interpretation	interpretation	NOUN
aijbms-113	190	40	table	table	NOUN
aijbms-113	190	41	5	5	NUM
aijbms-113	190	42	above	above	ADV
aijbms-113	190	43	shows	show	VERB
aijbms-113	190	44	a	a	DET
aijbms-113	190	45	correlation	correlation	NOUN
aijbms-113	190	46	coefficient	coefficient	NOUN
aijbms-113	190	47	(	(	PUNCT
aijbms-113	190	48	r	r	NOUN
aijbms-113	190	49	)	)	PUNCT
aijbms-113	190	50	of	of	ADP
aijbms-113	190	51	.872	.872	NOUN
aijbms-113	190	52	this	this	PRON
aijbms-113	190	53	implies	imply	VERB
aijbms-113	190	54	that	that	SCONJ
aijbms-113	190	55	a	a	DET
aijbms-113	190	56	very	very	ADV
aijbms-113	190	57	strong	strong	ADJ
aijbms-113	190	58	correlation	correlation	NOUN
aijbms-113	190	59	exists	exist	VERB
aijbms-113	190	60	between	between	ADP
aijbms-113	190	61	return	return	NOUN
aijbms-113	190	62	on	on	ADP
aijbms-113	190	63	assets	asset	NOUN
aijbms-113	190	64	and	and	CCONJ
aijbms-113	190	65	explanatory	explanatory	ADJ
aijbms-113	190	66	variables	variable	NOUN
aijbms-113	190	67	.	.	PUNCT
aijbms-113	191	1	the	the	DET
aijbms-113	191	2	coefficient	coefficient	NOUN
aijbms-113	191	3	of	of	ADP
aijbms-113	191	4	determination	determination	NOUN
aijbms-113	191	5	(	(	PUNCT
aijbms-113	191	6	r²	r²	PROPN
aijbms-113	191	7	)	)	PUNCT
aijbms-113	191	8	is	be	AUX
aijbms-113	191	9	.678	.678	NUM
aijbms-113	191	10	which	which	PRON
aijbms-113	191	11	shows	show	VERB
aijbms-113	191	12	that	that	SCONJ
aijbms-113	191	13	67.8	67.8	NUM
aijbms-113	191	14	%	%	NOUN
aijbms-113	191	15	of	of	ADP
aijbms-113	191	16	the	the	DET
aijbms-113	191	17	variation	variation	NOUN
aijbms-113	191	18	in	in	ADP
aijbms-113	191	19	return	return	NOUN
aijbms-113	191	20	on	on	ADP
aijbms-113	191	21	assets	asset	NOUN
aijbms-113	191	22	is	be	AUX
aijbms-113	191	23	attributable	attributable	ADJ
aijbms-113	191	24	to	to	ADP
aijbms-113	191	25	the	the	DET
aijbms-113	191	26	variations	variation	NOUN
aijbms-113	191	27	in	in	ADP
aijbms-113	191	28	the	the	DET
aijbms-113	191	29	financial	financial	ADJ
aijbms-113	191	30	leverage	leverage	NOUN
aijbms-113	191	31	.	.	PUNCT
aijbms-113	192	1	also	also	ADV
aijbms-113	192	2	,	,	PUNCT
aijbms-113	192	3	the	the	DET
aijbms-113	192	4	fvalue	fvalue	NOUN
aijbms-113	192	5	calculated	calculate	VERB
aijbms-113	192	6	of	of	ADP
aijbms-113	192	7	8.338	8.338	NUM
aijbms-113	192	8	has	have	VERB
aijbms-113	192	9	a	a	DET
aijbms-113	192	10	correlation	correlation	NOUN
aijbms-113	192	11	corresponding	correspond	VERB
aijbms-113	192	12	value	value	NOUN
aijbms-113	192	13	of	of	ADP
aijbms-113	192	14	.004	.004	NUM
aijbms-113	192	15	which	which	PRON
aijbms-113	192	16	implies	imply	VERB
aijbms-113	192	17	a	a	DET
aijbms-113	192	18	good	good	ADJ
aijbms-113	192	19	model	model	NOUN
aijbms-113	192	20	utility	utility	NOUN
aijbms-113	192	21	.	.	PUNCT
aijbms-113	193	1	the	the	DET
aijbms-113	193	2	test	test	NOUN
aijbms-113	193	3	of	of	ADP
aijbms-113	193	4	significance	significance	NOUN
aijbms-113	193	5	conducted	conduct	VERB
aijbms-113	193	6	as	as	SCONJ
aijbms-113	193	7	shown	show	VERB
aijbms-113	193	8	in	in	ADP
aijbms-113	193	9	the	the	DET
aijbms-113	193	10	tables	table	NOUN
aijbms-113	193	11	above	above	ADP
aijbms-113	193	12	states	state	NOUN
aijbms-113	193	13	that	that	SCONJ
aijbms-113	193	14	roa	roa	PROPN
aijbms-113	193	15	has	have	VERB
aijbms-113	193	16	a	a	DET
aijbms-113	193	17	calculated	calculate	VERB
aijbms-113	193	18	value	value	NOUN
aijbms-113	193	19	of	of	ADP
aijbms-113	193	20	242.032	242.032	NUM
aijbms-113	193	21	and	and	CCONJ
aijbms-113	193	22	a	a	DET
aijbms-113	193	23	corresponding	corresponding	ADJ
aijbms-113	193	24	significance	significance	NOUN
aijbms-113	193	25	value	value	NOUN
aijbms-113	193	26	/	/	SYM
aijbms-113	193	27	probability	probability	NOUN
aijbms-113	193	28	value	value	NOUN
aijbms-113	193	29	of	of	ADP
aijbms-113	193	30	.014	.014	NUM
aijbms-113	193	31	.	.	PUNCT
aijbms-113	194	1	the	the	DET
aijbms-113	194	2	positive	positive	ADJ
aijbms-113	194	3	sign	sign	NOUN
aijbms-113	194	4	of	of	ADP
aijbms-113	194	5	t	t	NOUN
aijbms-113	194	6	-	-	PUNCT
aijbms-113	194	7	value	value	NOUN
aijbms-113	194	8	(	(	PUNCT
aijbms-113	194	9	1.653	1.653	NUM
aijbms-113	194	10	)	)	PUNCT
aijbms-113	194	11	shows	show	VERB
aijbms-113	194	12	the	the	DET
aijbms-113	194	13	direction	direction	NOUN
aijbms-113	194	14	of	of	ADP
aijbms-113	194	15	the	the	DET
aijbms-113	194	16	variables	variable	NOUN
aijbms-113	194	17	.	.	PUNCT
aijbms-113	195	1	this	this	PRON
aijbms-113	195	2	therefore	therefore	ADV
aijbms-113	195	3	implies	imply	VERB
aijbms-113	195	4	that	that	SCONJ
aijbms-113	195	5	when	when	SCONJ
aijbms-113	195	6	a	a	DET
aijbms-113	195	7	financial	financial	ADJ
aijbms-113	195	8	leverage	leverage	NOUN
aijbms-113	195	9	is	be	AUX
aijbms-113	195	10	well	well	ADV
aijbms-113	195	11	used	use	VERB
aijbms-113	195	12	,	,	PUNCT
aijbms-113	195	13	this	this	PRON
aijbms-113	195	14	leads	lead	VERB
aijbms-113	195	15	to	to	ADP
aijbms-113	195	16	a	a	DET
aijbms-113	195	17	better	well	ADJ
aijbms-113	195	18	,	,	PUNCT
aijbms-113	195	19	reliable	reliable	ADJ
aijbms-113	195	20	and	and	CCONJ
aijbms-113	195	21	fairer	fair	ADJ
aijbms-113	195	22	financial	financial	ADJ
aijbms-113	195	23	result	result	NOUN
aijbms-113	195	24	that	that	PRON
aijbms-113	195	25	is	be	AUX
aijbms-113	195	26	objective	objective	ADJ
aijbms-113	195	27	and	and	CCONJ
aijbms-113	195	28	represent	represent	VERB
aijbms-113	195	29	the	the	DET
aijbms-113	195	30	true	true	ADJ
aijbms-113	195	31	state	state	NOUN
aijbms-113	195	32	of	of	ADP
aijbms-113	195	33	affairs	affair	NOUN
aijbms-113	195	34	in	in	ADP
aijbms-113	195	35	the	the	DET
aijbms-113	195	36	food	food	NOUN
aijbms-113	195	37	and	and	CCONJ
aijbms-113	195	38	beverage	beverage	NOUN
aijbms-113	195	39	companies	company	NOUN
aijbms-113	195	40	proportionately	proportionately	ADV
aijbms-113	195	41	.	.	PUNCT
aijbms-113	196	1	www.acseusa.org/journal/index.php/aijbms	www.acseusa.org/journal/index.php/aijbms	PROPN
aijbms-113	196	2	american	american	PROPN
aijbms-113	196	3	international	international	PROPN
aijbms-113	196	4	journal	journal	PROPN
aijbms-113	196	5	of	of	ADP
aijbms-113	196	6	business	business	NOUN
aijbms-113	196	7	and	and	CCONJ
aijbms-113	196	8	management	management	NOUN
aijbms-113	196	9	studies	study	NOUN
aijbms-113	196	10	vol	vol	NOUN
aijbms-113	196	11	.	.	PROPN
aijbms-113	197	1	1	1	NUM
aijbms-113	197	2	,	,	PUNCT
aijbms-113	197	3	no	no	INTJ
aijbms-113	197	4	.	.	NOUN
aijbms-113	197	5	1	1	NUM
aijbms-113	197	6	;	;	PUNCT
aijbms-113	197	7	2019	2019	NUM
aijbms-113	197	8	56	56	NUM
aijbms-113	197	9	table	table	NOUN
aijbms-113	197	10	6	6	NUM
aijbms-113	197	11	correlation	correlation	NOUN
aijbms-113	197	12	matrices	matrix	NOUN
aijbms-113	197	13	of	of	ADP
aijbms-113	197	14	coefficient	coefficient	NOUN
aijbms-113	197	15	of	of	ADP
aijbms-113	197	16	the	the	DET
aijbms-113	197	17	variables	variable	NOUN
aijbms-113	197	18	table	table	NOUN
aijbms-113	197	19	6	6	NUM
aijbms-113	197	20	roe	roe	NOUN
aijbms-113	197	21	der	der	PROPN
aijbms-113	197	22	dr	dr	PROPN
aijbms-113	197	23	er	er	PROPN
aijbms-113	197	24	tlr	tlr	PROPN
aijbms-113	197	25	ltdr	ltdr	PROPN
aijbms-113	197	26	roe	roe	PROPN
aijbms-113	197	27	1.000	1.000	NUM
aijbms-113	197	28	der	der	NOUN
aijbms-113	197	29	.57	.57	NUM
aijbms-113	197	30	1.000	1.000	NUM
aijbms-113	197	31	dr	dr	PROPN
aijbms-113	197	32	-.115	-.115	PROPN
aijbms-113	197	33	.169	.169	NUM
aijbms-113	197	34	1.000	1.000	NUM
aijbms-113	197	35	er	er	NUM
aijbms-113	197	36	.052	.052	NUM
aijbms-113	197	37	.091	.091	NUM
aijbms-113	197	38	.357	.357	NUM
aijbms-113	197	39	1.000	1.000	NUM
aijbms-113	197	40	tlr	tlr	PROPN
aijbms-113	197	41	-004	-004	PROPN
aijbms-113	198	1	-.063	-.063	ADJ
aijbms-113	198	2	-.122	-.122	PROPN
aijbms-113	198	3	.300	.300	NUM
aijbms-113	198	4	1.000	1.000	NUM
aijbms-113	198	5	ltdr	ltdr	PROPN
aijbms-113	198	6	-.343	-.343	PROPN
aijbms-113	198	7	-.169	-.169	PROPN
aijbms-113	198	8	.333	.333	NUM
aijbms-113	198	9	.144	.144	NUM
aijbms-113	198	10	-.121	-.121	NUM
aijbms-113	198	11	1.000	1.000	NUM
aijbms-113	198	12	source	source	NOUN
aijbms-113	198	13	:	:	PUNCT
aijbms-113	198	14	spss	spss	PROPN
aijbms-113	198	15	20.0	20.0	NUM
aijbms-113	198	16	as	as	SCONJ
aijbms-113	198	17	explained	explain	VERB
aijbms-113	198	18	in	in	ADP
aijbms-113	198	19	table	table	NOUN
aijbms-113	198	20	3	3	NUM
aijbms-113	198	21	above	above	ADP
aijbms-113	198	22	when	when	SCONJ
aijbms-113	198	23	explanatory	explanatory	ADJ
aijbms-113	198	24	variables	variable	NOUN
aijbms-113	198	25	in	in	ADP
aijbms-113	198	26	the	the	DET
aijbms-113	198	27	model	model	NOUN
aijbms-113	198	28	have	have	VERB
aijbms-113	198	29	correlation	correlation	NOUN
aijbms-113	198	30	of	of	ADP
aijbms-113	198	31	sufficient	sufficient	ADJ
aijbms-113	198	32	magnitude	magnitude	NOUN
aijbms-113	198	33	to	to	PART
aijbms-113	198	34	negatively	negatively	ADV
aijbms-113	198	35	impact	impact	VERB
aijbms-113	198	36	the	the	DET
aijbms-113	198	37	model	model	NOUN
aijbms-113	198	38	especially	especially	ADV
aijbms-113	198	39	beta	beta	ADJ
aijbms-113	198	40	weight	weight	NOUN
aijbms-113	198	41	via	via	ADP
aijbms-113	198	42	standard	standard	ADJ
aijbms-113	198	43	errors	error	NOUN
aijbms-113	198	44	and	and	CCONJ
aijbms-113	198	45	statistical	statistical	ADJ
aijbms-113	198	46	significance	significance	NOUN
aijbms-113	198	47	levels	level	NOUN
aijbms-113	198	48	associated	associate	VERB
aijbms-113	198	49	with	with	ADP
aijbms-113	198	50	beta	beta	NOUN
aijbms-113	198	51	weight	weight	NOUN
aijbms-113	198	52	)	)	PUNCT
aijbms-113	198	53	,	,	PUNCT
aijbms-113	198	54	we	we	PRON
aijbms-113	198	55	say	say	VERB
aijbms-113	198	56	there	there	PRON
aijbms-113	198	57	exists	exist	VERB
aijbms-113	198	58	collinearity	collinearity	NOUN
aijbms-113	198	59	or	or	CCONJ
aijbms-113	198	60	multi	multi	ADJ
aijbms-113	198	61	collinearity	collinearity	NOUN
aijbms-113	198	62	.	.	PUNCT
aijbms-113	199	1	according	accord	VERB
aijbms-113	199	2	to	to	ADP
aijbms-113	199	3	gujarati	gujarati	PROPN
aijbms-113	199	4	(	(	PUNCT
aijbms-113	199	5	2004	2004	NUM
aijbms-113	199	6	)	)	PUNCT
aijbms-113	199	7	if	if	SCONJ
aijbms-113	199	8	multicollinearity	multicollinearity	NOUN
aijbms-113	199	9	is	be	AUX
aijbms-113	199	10	perfect	perfect	ADJ
aijbms-113	199	11	in	in	ADP
aijbms-113	199	12	the	the	DET
aijbms-113	199	13	sense	sense	NOUN
aijbms-113	199	14	of	of	ADP
aijbms-113	199	15	exact	exact	ADJ
aijbms-113	199	16	linear	linear	ADJ
aijbms-113	199	17	relationship	relationship	NOUN
aijbms-113	199	18	among	among	ADP
aijbms-113	199	19	variables	variable	NOUN
aijbms-113	199	20	,	,	PUNCT
aijbms-113	199	21	the	the	DET
aijbms-113	199	22	regression	regression	NOUN
aijbms-113	199	23	coefficients	coefficient	NOUN
aijbms-113	199	24	of	of	ADP
aijbms-113	199	25	the	the	DET
aijbms-113	199	26	x	x	PROPN
aijbms-113	199	27	variables	variable	NOUN
aijbms-113	199	28	are	be	AUX
aijbms-113	199	29	indeterminate	indeterminate	ADJ
aijbms-113	199	30	and	and	CCONJ
aijbms-113	199	31	their	their	PRON
aijbms-113	199	32	standard	standard	ADJ
aijbms-113	199	33	errors	error	NOUN
aijbms-113	199	34	are	be	AUX
aijbms-113	199	35	infinite	infinite	ADJ
aijbms-113	199	36	.	.	PUNCT
aijbms-113	200	1	if	if	SCONJ
aijbms-113	200	2	multicollinearity	multicollinearity	NOUN
aijbms-113	200	3	is	be	AUX
aijbms-113	200	4	less	less	ADJ
aijbms-113	200	5	than	than	ADP
aijbms-113	200	6	perfect	perfect	ADJ
aijbms-113	200	7	,	,	PUNCT
aijbms-113	200	8	as	as	ADP
aijbms-113	200	9	in	in	ADP
aijbms-113	200	10	explanatory	explanatory	ADJ
aijbms-113	200	11	variable	variable	NOUN
aijbms-113	200	12	are	be	AUX
aijbms-113	200	13	inter	inter	ADJ
aijbms-113	200	14	-	-	ADJ
aijbms-113	200	15	correlated	correlated	ADJ
aijbms-113	200	16	but	but	CCONJ
aijbms-113	200	17	not	not	PART
aijbms-113	200	18	perfectly	perfectly	ADV
aijbms-113	200	19	,	,	PUNCT
aijbms-113	200	20	the	the	DET
aijbms-113	200	21	regression	regression	NOUN
aijbms-113	200	22	coefficients	coefficient	NOUN
aijbms-113	200	23	,	,	PUNCT
aijbms-113	200	24	although	although	SCONJ
aijbms-113	200	25	determinate	determinate	ADJ
aijbms-113	200	26	,	,	PUNCT
aijbms-113	200	27	possess	possess	VERB
aijbms-113	200	28	large	large	ADJ
aijbms-113	200	29	standard	standard	ADJ
aijbms-113	200	30	errors	error	NOUN
aijbms-113	200	31	in	in	ADP
aijbms-113	200	32	relation	relation	NOUN
aijbms-113	200	33	to	to	ADP
aijbms-113	200	34	the	the	DET
aijbms-113	200	35	coefficients	coefficient	NOUN
aijbms-113	200	36	themselves	themselves	PRON
aijbms-113	200	37	,	,	PUNCT
aijbms-113	200	38	which	which	PRON
aijbms-113	200	39	means	mean	VERB
aijbms-113	200	40	the	the	DET
aijbms-113	200	41	coefficients	coefficient	NOUN
aijbms-113	200	42	can	can	AUX
aijbms-113	200	43	not	not	PART
aijbms-113	200	44	be	be	AUX
aijbms-113	200	45	estimated	estimate	VERB
aijbms-113	200	46	with	with	ADP
aijbms-113	200	47	great	great	ADJ
aijbms-113	200	48	precision	precision	NOUN
aijbms-113	200	49	or	or	CCONJ
aijbms-113	200	50	accuracy	accuracy	NOUN
aijbms-113	200	51	.	.	PUNCT
aijbms-113	201	1	a	a	DET
aijbms-113	201	2	prior	prior	ADJ
aijbms-113	201	3	correlation	correlation	NOUN
aijbms-113	201	4	analysis	analysis	NOUN
aijbms-113	201	5	was	be	AUX
aijbms-113	201	6	carried	carry	VERB
aijbms-113	201	7	out	out	ADP
aijbms-113	201	8	of	of	ADP
aijbms-113	201	9	the	the	DET
aijbms-113	201	10	variables	variable	NOUN
aijbms-113	201	11	in	in	ADP
aijbms-113	201	12	order	order	NOUN
aijbms-113	201	13	to	to	PART
aijbms-113	201	14	detect	detect	VERB
aijbms-113	201	15	multicollinearity	multicollinearity	NOUN
aijbms-113	201	16	problems	problem	NOUN
aijbms-113	201	17	and	and	CCONJ
aijbms-113	201	18	militate	militate	VERB
aijbms-113	201	19	against	against	ADP
aijbms-113	201	20	the	the	DET
aijbms-113	201	21	possible	possible	ADJ
aijbms-113	201	22	effects	effect	NOUN
aijbms-113	201	23	it	it	PRON
aijbms-113	201	24	could	could	AUX
aijbms-113	201	25	have	have	VERB
aijbms-113	201	26	on	on	ADP
aijbms-113	201	27	the	the	DET
aijbms-113	201	28	study	study	NOUN
aijbms-113	201	29	.	.	PUNCT
aijbms-113	202	1	gujarati	gujarati	PROPN
aijbms-113	202	2	(	(	PUNCT
aijbms-113	202	3	2004	2004	NUM
aijbms-113	202	4	)	)	PUNCT
aijbms-113	202	5	,	,	PUNCT
aijbms-113	202	6	explained	explain	VERB
aijbms-113	202	7	the	the	DET
aijbms-113	202	8	existence	existence	NOUN
aijbms-113	202	9	of	of	ADP
aijbms-113	202	10	collinearity	collinearity	NOUN
aijbms-113	202	11	if	if	SCONJ
aijbms-113	202	12	the	the	DET
aijbms-113	202	13	pair	pair	NOUN
aijbms-113	202	14	-	-	PUNCT
aijbms-113	202	15	wise	wise	ADJ
aijbms-113	202	16	correlation	correlation	NOUN
aijbms-113	202	17	coefficient	coefficient	NOUN
aijbms-113	202	18	is	be	AUX
aijbms-113	202	19	high	high	ADJ
aijbms-113	202	20	,	,	PUNCT
aijbms-113	202	21	and	and	CCONJ
aijbms-113	202	22	established	establish	VERB
aijbms-113	202	23	a	a	DET
aijbms-113	202	24	threshold	threshold	NOUN
aijbms-113	202	25	of	of	ADP
aijbms-113	202	26	0.5	0.5	NUM
aijbms-113	202	27	and	and	CCONJ
aijbms-113	202	28	below	below	ADV
aijbms-113	202	29	to	to	PART
aijbms-113	202	30	explain	explain	VERB
aijbms-113	202	31	the	the	DET
aijbms-113	202	32	acceptability	acceptability	NOUN
aijbms-113	202	33	of	of	ADP
aijbms-113	202	34	use	use	NOUN
aijbms-113	202	35	of	of	ADP
aijbms-113	202	36	the	the	DET
aijbms-113	202	37	variable	variable	NOUN
aijbms-113	202	38	in	in	ADP
aijbms-113	202	39	the	the	DET
aijbms-113	202	40	model	model	NOUN
aijbms-113	202	41	.	.	PUNCT
aijbms-113	203	1	the	the	DET
aijbms-113	203	2	researcher	researcher	NOUN
aijbms-113	203	3	therefore	therefore	ADV
aijbms-113	203	4	set	set	VERB
aijbms-113	203	5	a	a	DET
aijbms-113	203	6	margin	margin	NOUN
aijbms-113	203	7	of	of	ADP
aijbms-113	203	8	below	below	ADP
aijbms-113	203	9	0.5	0.5	NUM
aijbms-113	203	10	(	(	PUNCT
aijbms-113	203	11	-0.5	-0.5	NOUN
aijbms-113	203	12	)	)	PUNCT
aijbms-113	203	13	to	to	PART
aijbms-113	203	14	show	show	VERB
aijbms-113	203	15	weak	weak	ADJ
aijbms-113	203	16	linear	linear	ADJ
aijbms-113	203	17	correlation	correlation	NOUN
aijbms-113	203	18	(	(	PUNCT
aijbms-113	203	19	positive	positive	ADJ
aijbms-113	203	20	or	or	CCONJ
aijbms-113	203	21	negative	negative	ADJ
aijbms-113	203	22	)	)	PUNCT
aijbms-113	203	23	between	between	ADP
aijbms-113	203	24	variables	variable	NOUN
aijbms-113	203	25	,	,	PUNCT
aijbms-113	203	26	hence	hence	ADV
aijbms-113	203	27	higher	high	ADJ
aijbms-113	203	28	degree	degree	NOUN
aijbms-113	203	29	of	of	ADP
aijbms-113	203	30	acceptability	acceptability	NOUN
aijbms-113	203	31	for	for	ADP
aijbms-113	203	32	use	use	NOUN
aijbms-113	203	33	in	in	ADP
aijbms-113	203	34	the	the	DET
aijbms-113	203	35	model	model	NOUN
aijbms-113	203	36	due	due	ADP
aijbms-113	203	37	to	to	ADP
aijbms-113	203	38	weak	weak	ADJ
aijbms-113	203	39	possibility	possibility	NOUN
aijbms-113	203	40	of	of	ADP
aijbms-113	203	41	multi	multi	NOUN
aijbms-113	203	42	-	-	NOUN
aijbms-113	203	43	collinearity	collinearity	NOUN
aijbms-113	203	44	.	.	PUNCT
aijbms-113	204	1	between	between	ADP
aijbms-113	204	2	0.5	0.5	NUM
aijbms-113	204	3	(	(	PUNCT
aijbms-113	204	4	-0.5	-0.5	NOUN
aijbms-113	204	5	)	)	PUNCT
aijbms-113	204	6	to	to	ADP
aijbms-113	204	7	0.8	0.8	NUM
aijbms-113	204	8	(	(	PUNCT
aijbms-113	204	9	-0.8	-0.8	NUM
aijbms-113	204	10	)	)	PUNCT
aijbms-113	204	11	indicates	indicate	VERB
aijbms-113	204	12	a	a	DET
aijbms-113	204	13	moderate	moderate	ADJ
aijbms-113	204	14	collinearity	collinearity	NOUN
aijbms-113	204	15	and	and	CCONJ
aijbms-113	204	16	0.8	0.8	NUM
aijbms-113	204	17	to	to	PART
aijbms-113	204	18	1.0	1.0	NUM
aijbms-113	204	19	strong	strong	ADJ
aijbms-113	204	20	multicollinearity	multicollinearity	NOUN
aijbms-113	204	21	and	and	CCONJ
aijbms-113	204	22	low	low	ADJ
aijbms-113	204	23	acceptability	acceptability	NOUN
aijbms-113	204	24	to	to	PART
aijbms-113	204	25	include	include	VERB
aijbms-113	204	26	the	the	DET
aijbms-113	204	27	variables	variable	NOUN
aijbms-113	204	28	within	within	ADP
aijbms-113	204	29	the	the	DET
aijbms-113	204	30	same	same	ADJ
aijbms-113	204	31	models	model	NOUN
aijbms-113	204	32	.	.	PUNCT
aijbms-113	205	1	there	there	PRON
aijbms-113	205	2	is	be	VERB
aijbms-113	205	3	no	no	DET
aijbms-113	205	4	clear	clear	ADJ
aijbms-113	205	5	method	method	NOUN
aijbms-113	205	6	to	to	PART
aijbms-113	205	7	employ	employ	VERB
aijbms-113	205	8	to	to	PART
aijbms-113	205	9	eliminate	eliminate	VERB
aijbms-113	205	10	multicollinearity	multicollinearity	NOUN
aijbms-113	205	11	,	,	PUNCT
aijbms-113	205	12	but	but	CCONJ
aijbms-113	205	13	expansion	expansion	NOUN
aijbms-113	205	14	of	of	ADP
aijbms-113	205	15	observations	observation	NOUN
aijbms-113	205	16	,	,	PUNCT
aijbms-113	205	17	aggregating	aggregate	VERB
aijbms-113	205	18	similar	similar	ADJ
aijbms-113	205	19	variables	variable	NOUN
aijbms-113	205	20	,	,	PUNCT
aijbms-113	205	21	and	and	CCONJ
aijbms-113	205	22	eliminating	eliminate	VERB
aijbms-113	205	23	redundant	redundant	ADJ
aijbms-113	205	24	variables	variable	NOUN
aijbms-113	205	25	from	from	ADP
aijbms-113	205	26	the	the	DET
aijbms-113	205	27	equation	equation	NOUN
aijbms-113	205	28	,	,	PUNCT
aijbms-113	205	29	and	and	CCONJ
aijbms-113	205	30	so	so	ADV
aijbms-113	205	31	on	on	ADV
aijbms-113	205	32	,	,	PUNCT
aijbms-113	205	33	may	may	AUX
aijbms-113	205	34	reduce	reduce	VERB
aijbms-113	205	35	the	the	DET
aijbms-113	205	36	problem	problem	NOUN
aijbms-113	205	37	of	of	ADP
aijbms-113	205	38	multicollinearity	multicollinearity	NOUN
aijbms-113	205	39	.	.	PUNCT
aijbms-113	206	1	however	however	ADV
aijbms-113	206	2	,	,	PUNCT
aijbms-113	206	3	variables	variable	NOUN
aijbms-113	206	4	need	need	VERB
aijbms-113	206	5	not	not	PART
aijbms-113	206	6	to	to	PART
aijbms-113	206	7	be	be	AUX
aijbms-113	206	8	eliminated	eliminate	VERB
aijbms-113	206	9	from	from	ADP
aijbms-113	206	10	the	the	DET
aijbms-113	206	11	model	model	NOUN
aijbms-113	206	12	due	due	ADP
aijbms-113	206	13	to	to	ADP
aijbms-113	206	14	multicollinearity	multicollinearity	NOUN
aijbms-113	206	15	problems	problem	NOUN
aijbms-113	206	16	,	,	PUNCT
aijbms-113	206	17	because	because	SCONJ
aijbms-113	206	18	each	each	DET
aijbms-113	206	19	explanatory	explanatory	ADJ
aijbms-113	206	20	variable	variable	NOUN
aijbms-113	206	21	has	have	VERB
aijbms-113	206	22	a	a	DET
aijbms-113	206	23	special	special	ADJ
aijbms-113	206	24	piece	piece	NOUN
aijbms-113	206	25	of	of	ADP
aijbms-113	206	26	information	information	NOUN
aijbms-113	206	27	about	about	ADP
aijbms-113	206	28	the	the	DET
aijbms-113	206	29	dependent	dependent	ADJ
aijbms-113	206	30	variable	variable	NOUN
aijbms-113	206	31	.	.	PUNCT
aijbms-113	207	1	table	table	NOUN
aijbms-113	207	2	7	7	NUM
aijbms-113	207	3	:	:	PUNCT
aijbms-113	207	4	effect	effect	NOUN
aijbms-113	207	5	of	of	ADP
aijbms-113	207	6	financial	financial	ADJ
aijbms-113	207	7	leverage	leverage	NOUN
aijbms-113	207	8	on	on	ADP
aijbms-113	207	9	return	return	NOUN
aijbms-113	207	10	on	on	ADP
aijbms-113	207	11	equity	equity	NOUN
aijbms-113	207	12	variables	variable	NOUN
aijbms-113	207	13	coefficient	coefficient	VERB
aijbms-113	207	14	der	der	PROPN
aijbms-113	207	15	dr	dr	PROPN
aijbms-113	207	16	er	er	PROPN
aijbms-113	207	17	tlr	tlr	PROPN
aijbms-113	207	18	ltdr	ltdr	PROPN
aijbms-113	207	19	unstandardized	unstandardize	VERB
aijbms-113	207	20	beta	beta	NOUN
aijbms-113	207	21	-.061	-.061	PROPN
aijbms-113	207	22	-2.661	-2.661	NOUN
aijbms-113	207	23	1.674	1.674	NUM
aijbms-113	207	24	-2.864	-2.864	NUM
aijbms-113	207	25	-5.374	-5.374	NOUN
aijbms-113	207	26	std	std	NOUN
aijbms-113	207	27	error	error	NOUN
aijbms-113	207	28	.938	.938	NUM
aijbms-113	207	29	10.465	10.465	NUM
aijbms-113	207	30	2.538	2.538	NUM
aijbms-113	207	31	6.262	6.262	NUM
aijbms-113	207	32	3.411	3.411	NUM
aijbms-113	207	33	standardized	standardized	ADJ
aijbms-113	207	34	beta	beta	NOUN
aijbms-113	207	35	-.014	-.014	NOUN
aijbms-113	207	36	-.062	-.062	PROPN
aijbms-113	207	37	.158	.158	NUM
aijbms-113	207	38	-.104	-.104	PROPN
aijbms-113	207	39	-.360	-.360	PROPN
aijbms-113	207	40	t	t	PROPN
aijbms-113	207	41	-	-	PUNCT
aijbms-113	207	42	test	test	NOUN
aijbms-113	207	43	-9.465	-9.465	PUNCT
aijbms-113	207	44	-8.254	-8.254	PUNCT
aijbms-113	207	45	6.660	6.660	NUM
aijbms-113	207	46	-.457	-.457	PROPN
aijbms-113	207	47	-1.576	-1.576	PROPN
aijbms-113	207	48	sig	sig	PROPN
aijbms-113	207	49	.	.	PUNCT
aijbms-113	208	1	t	t	PROPN
aijbms-113	208	2	.009	.009	NUM
aijbms-113	208	3	.002	.002	NUM
aijbms-113	208	4	.007	.007	NUM
aijbms-113	208	5	.652	.652	NUM
aijbms-113	209	1	0.031	0.031	NUM
aijbms-113	209	2	constant	constant	ADJ
aijbms-113	209	3	α0	α0	PROPN
aijbms-113	209	4	568.906	568.906	NUM
aijbms-113	209	5	,	,	PUNCT
aijbms-113	209	6	t	t	NOUN
aijbms-113	209	7	=	=	SYM
aijbms-113	209	8	3.310	3.310	NUM
aijbms-113	209	9	,	,	PUNCT
aijbms-113	209	10	t	t	PROPN
aijbms-113	209	11	-	-	PUNCT
aijbms-113	209	12	sig	sig	NOUN
aijbms-113	209	13	=	=	NOUN
aijbms-113	209	14	.003	.003	NUM
aijbms-113	209	15	,	,	PUNCT
aijbms-113	209	16	r	r	NOUN
aijbms-113	209	17	.772	.772	NUM
aijbms-113	209	18	,	,	PUNCT
aijbms-113	209	19	r2	r2	PROPN
aijbms-113	209	20	=	=	SYM
aijbms-113	209	21	.639	.639	NUM
aijbms-113	209	22	,	,	PUNCT
aijbms-113	209	23	adj	adj	PROPN
aijbms-113	209	24	r2	r2	PROPN
aijbms-113	209	25	=	=	SYM
aijbms-113	209	26	.477	.477	NUM
aijbms-113	209	27	f	f	NOUN
aijbms-113	209	28	ratio	ratio	NOUN
aijbms-113	209	29	=	=	SYM
aijbms-113	209	30	7.644	7.644	NUM
aijbms-113	209	31	,	,	PUNCT
aijbms-113	209	32	f.sig	f.sig	PRON
aijbms-113	209	33	=	=	SYM
aijbms-113	209	34	.009	.009	NUM
aijbms-113	209	35	table	table	NOUN
aijbms-113	209	36	7	7	NUM
aijbms-113	209	37	above	above	ADV
aijbms-113	209	38	shows	show	VERB
aijbms-113	209	39	a	a	DET
aijbms-113	209	40	correlation	correlation	NOUN
aijbms-113	209	41	coefficient	coefficient	NOUN
aijbms-113	209	42	(	(	PUNCT
aijbms-113	209	43	r	r	NOUN
aijbms-113	209	44	)	)	PUNCT
aijbms-113	209	45	of	of	ADP
aijbms-113	209	46	.772	.772	NUM
aijbms-113	209	47	this	this	PRON
aijbms-113	209	48	implies	imply	VERB
aijbms-113	209	49	that	that	SCONJ
aijbms-113	209	50	a	a	DET
aijbms-113	209	51	very	very	ADV
aijbms-113	209	52	strong	strong	ADJ
aijbms-113	209	53	correlation	correlation	NOUN
aijbms-113	209	54	exists	exist	VERB
aijbms-113	209	55	between	between	ADP
aijbms-113	209	56	return	return	NOUN
aijbms-113	209	57	on	on	ADP
aijbms-113	209	58	assets	asset	NOUN
aijbms-113	209	59	and	and	CCONJ
aijbms-113	209	60	explanatory	explanatory	ADJ
aijbms-113	209	61	variables	variable	NOUN
aijbms-113	209	62	.	.	PUNCT
aijbms-113	210	1	the	the	DET
aijbms-113	210	2	coefficient	coefficient	NOUN
aijbms-113	210	3	of	of	ADP
aijbms-113	210	4	determination	determination	NOUN
aijbms-113	210	5	(	(	PUNCT
aijbms-113	210	6	r²	r²	PROPN
aijbms-113	210	7	)	)	PUNCT
aijbms-113	210	8	is	be	AUX
aijbms-113	210	9	.639	.639	NUM
aijbms-113	210	10	which	which	PRON
aijbms-113	210	11	shows	show	VERB
aijbms-113	210	12	that	that	SCONJ
aijbms-113	210	13	63.9	63.9	NUM
aijbms-113	210	14	%	%	NOUN
aijbms-113	210	15	of	of	ADP
aijbms-113	210	16	the	the	DET
aijbms-113	210	17	variation	variation	NOUN
aijbms-113	210	18	in	in	ADP
aijbms-113	210	19	return	return	NOUN
aijbms-113	210	20	on	on	ADP
aijbms-113	210	21	equity	equity	NOUN
aijbms-113	210	22	is	be	AUX
aijbms-113	210	23	attributable	attributable	ADJ
aijbms-113	210	24	to	to	ADP
aijbms-113	210	25	the	the	DET
aijbms-113	210	26	variations	variation	NOUN
aijbms-113	210	27	in	in	ADP
aijbms-113	210	28	the	the	DET
aijbms-113	210	29	financial	financial	ADJ
aijbms-113	210	30	leverage	leverage	NOUN
aijbms-113	210	31	.	.	PUNCT
aijbms-113	211	1	also	also	ADV
aijbms-113	211	2	,	,	PUNCT
aijbms-113	211	3	the	the	DET
aijbms-113	211	4	fvalue	fvalue	NOUN
aijbms-113	211	5	calculated	calculate	VERB
aijbms-113	211	6	of	of	ADP
aijbms-113	211	7	7.644	7.644	NUM
aijbms-113	211	8	has	have	VERB
aijbms-113	211	9	a	a	DET
aijbms-113	211	10	correlation	correlation	NOUN
aijbms-113	211	11	corresponding	correspond	VERB
aijbms-113	211	12	value	value	NOUN
aijbms-113	211	13	of	of	ADP
aijbms-113	211	14	.004	.004	NUM
aijbms-113	211	15	which	which	PRON
aijbms-113	211	16	implies	imply	VERB
aijbms-113	211	17	a	a	DET
aijbms-113	211	18	good	good	ADJ
aijbms-113	211	19	model	model	NOUN
aijbms-113	211	20	utility	utility	NOUN
aijbms-113	211	21	.	.	PUNCT
aijbms-113	212	1	the	the	DET
aijbms-113	212	2	test	test	NOUN
aijbms-113	212	3	of	of	ADP
aijbms-113	212	4	significance	significance	NOUN
aijbms-113	212	5	conducted	conduct	VERB
aijbms-113	212	6	as	as	SCONJ
aijbms-113	212	7	shown	show	VERB
aijbms-113	212	8	in	in	ADP
aijbms-113	212	9	the	the	DET
aijbms-113	212	10	tables	table	NOUN
aijbms-113	212	11	above	above	ADP
aijbms-113	212	12	states	state	NOUN
aijbms-113	212	13	that	that	SCONJ
aijbms-113	212	14	roe	roe	PROPN
aijbms-113	212	15	has	have	VERB
aijbms-113	212	16	a	a	DET
aijbms-113	212	17	calculated	calculate	VERB
aijbms-113	212	18	value	value	NOUN
aijbms-113	212	19	of	of	ADP
aijbms-113	212	20	568.906	568.906	NUM
aijbms-113	212	21	and	and	CCONJ
aijbms-113	212	22	a	a	DET
aijbms-113	212	23	corresponding	corresponding	ADJ
aijbms-113	212	24	significance	significance	NOUN
aijbms-113	212	25	value	value	NOUN
aijbms-113	212	26	/	/	SYM
aijbms-113	212	27	probability	probability	NOUN
aijbms-113	212	28	value	value	NOUN
aijbms-113	212	29	of	of	ADP
aijbms-113	212	30	.003	.003	NUM
aijbms-113	212	31	.	.	PUNCT
aijbms-113	213	1	the	the	DET
aijbms-113	213	2	positive	positive	ADJ
aijbms-113	213	3	sign	sign	NOUN
aijbms-113	213	4	of	of	ADP
aijbms-113	213	5	t	t	NOUN
aijbms-113	213	6	-	-	PUNCT
aijbms-113	213	7	value	value	NOUN
aijbms-113	213	8	(	(	PUNCT
aijbms-113	213	9	3.310	3.310	NUM
aijbms-113	213	10	)	)	PUNCT
aijbms-113	213	11	shows	show	VERB
aijbms-113	213	12	the	the	DET
aijbms-113	213	13	direction	direction	NOUN
aijbms-113	213	14	of	of	ADP
aijbms-113	213	15	the	the	DET
aijbms-113	213	16	variables	variable	NOUN
aijbms-113	213	17	.	.	PUNCT
aijbms-113	214	1	this	this	PRON
aijbms-113	214	2	therefore	therefore	ADV
aijbms-113	214	3	implies	imply	VERB
aijbms-113	214	4	that	that	SCONJ
aijbms-113	214	5	when	when	SCONJ
aijbms-113	214	6	a	a	DET
aijbms-113	214	7	financial	financial	ADJ
aijbms-113	214	8	leverage	leverage	NOUN
aijbms-113	214	9	is	be	AUX
aijbms-113	214	10	well	well	ADV
aijbms-113	214	11	used	use	VERB
aijbms-113	214	12	,	,	PUNCT
aijbms-113	214	13	this	this	PRON
aijbms-113	214	14	leads	lead	VERB
aijbms-113	214	15	to	to	ADP
aijbms-113	214	16	a	a	DET
aijbms-113	214	17	better	well	ADJ
aijbms-113	214	18	,	,	PUNCT
aijbms-113	214	19	reliable	reliable	ADJ
aijbms-113	214	20	and	and	CCONJ
aijbms-113	214	21	www.acseusa.org/journal/index.php/aijbms	www.acseusa.org/journal/index.php/aijbm	VERB
aijbms-113	214	22	american	american	PROPN
aijbms-113	214	23	international	international	PROPN
aijbms-113	214	24	journal	journal	PROPN
aijbms-113	214	25	of	of	ADP
aijbms-113	214	26	business	business	NOUN
aijbms-113	214	27	and	and	CCONJ
aijbms-113	214	28	management	management	NOUN
aijbms-113	214	29	studies	study	NOUN
aijbms-113	214	30	vol	vol	NOUN
aijbms-113	214	31	.	.	PROPN
aijbms-113	215	1	1	1	NUM
aijbms-113	215	2	,	,	PUNCT
aijbms-113	215	3	no	no	INTJ
aijbms-113	215	4	.	.	NOUN
aijbms-113	215	5	1	1	NUM
aijbms-113	215	6	;	;	PUNCT
aijbms-113	215	7	2019	2019	NUM
aijbms-113	215	8	57	57	NUM
aijbms-113	215	9	fairer	fair	ADJ
aijbms-113	215	10	financial	financial	ADJ
aijbms-113	215	11	result	result	NOUN
aijbms-113	215	12	that	that	PRON
aijbms-113	215	13	is	be	AUX
aijbms-113	215	14	objective	objective	ADJ
aijbms-113	215	15	and	and	CCONJ
aijbms-113	215	16	represent	represent	VERB
aijbms-113	215	17	the	the	DET
aijbms-113	215	18	true	true	ADJ
aijbms-113	215	19	state	state	NOUN
aijbms-113	215	20	of	of	ADP
aijbms-113	215	21	affairs	affair	NOUN
aijbms-113	215	22	in	in	ADP
aijbms-113	215	23	the	the	DET
aijbms-113	215	24	food	food	NOUN
aijbms-113	215	25	and	and	CCONJ
aijbms-113	215	26	beverage	beverage	NOUN
aijbms-113	215	27	companies	company	NOUN
aijbms-113	215	28	proportionately	proportionately	ADV
aijbms-113	215	29	.	.	PUNCT
aijbms-113	216	1	the	the	DET
aijbms-113	216	2	results	result	NOUN
aijbms-113	216	3	reveal	reveal	VERB
aijbms-113	216	4	a	a	DET
aijbms-113	216	5	positive	positive	ADJ
aijbms-113	216	6	relationship	relationship	NOUN
aijbms-113	216	7	of	of	ADP
aijbms-113	216	8	5.5	5.5	NUM
aijbms-113	216	9	%	%	NOUN
aijbms-113	216	10	between	between	ADP
aijbms-113	216	11	the	the	DET
aijbms-113	216	12	value	value	NOUN
aijbms-113	216	13	of	of	ADP
aijbms-113	216	14	debt	debt	NOUN
aijbms-113	216	15	equity	equity	NOUN
aijbms-113	216	16	ratio	ratio	NOUN
aijbms-113	216	17	and	and	CCONJ
aijbms-113	216	18	return	return	VERB
aijbms-113	216	19	on	on	ADP
aijbms-113	216	20	assets	asset	NOUN
aijbms-113	216	21	and	and	CCONJ
aijbms-113	216	22	a	a	DET
aijbms-113	216	23	positive	positive	ADJ
aijbms-113	216	24	relationship	relationship	NOUN
aijbms-113	216	25	of	of	ADP
aijbms-113	216	26	2.5	2.5	NUM
aijbms-113	216	27	%	%	NOUN
aijbms-113	216	28	between	between	ADP
aijbms-113	216	29	long	long	ADJ
aijbms-113	216	30	term	term	NOUN
aijbms-113	216	31	debt	debt	NOUN
aijbms-113	216	32	ratio	ratio	NOUN
aijbms-113	216	33	and	and	CCONJ
aijbms-113	216	34	return	return	NOUN
aijbms-113	216	35	on	on	ADP
aijbms-113	216	36	assets	asset	NOUN
aijbms-113	216	37	but	but	CCONJ
aijbms-113	216	38	negative	negative	ADJ
aijbms-113	216	39	relationship	relationship	NOUN
aijbms-113	216	40	of	of	ADP
aijbms-113	216	41	47.8	47.8	NUM
aijbms-113	216	42	%	%	NOUN
aijbms-113	216	43	,	,	PUNCT
aijbms-113	216	44	10.9	10.9	NUM
aijbms-113	216	45	%	%	NOUN
aijbms-113	216	46	and	and	CCONJ
aijbms-113	216	47	97.3	97.3	NUM
aijbms-113	216	48	%	%	NOUN
aijbms-113	216	49	between	between	ADP
aijbms-113	216	50	debt	debt	NOUN
aijbms-113	216	51	ratio	ratio	NOUN
aijbms-113	216	52	,	,	PUNCT
aijbms-113	216	53	equity	equity	NOUN
aijbms-113	216	54	ratio	ratio	NOUN
aijbms-113	216	55	and	and	CCONJ
aijbms-113	216	56	return	return	VERB
aijbms-113	216	57	on	on	ADP
aijbms-113	216	58	assets	asset	NOUN
aijbms-113	216	59	.	.	PUNCT
aijbms-113	217	1	the	the	DET
aijbms-113	217	2	positive	positive	ADJ
aijbms-113	217	3	impact	impact	NOUN
aijbms-113	217	4	of	of	ADP
aijbms-113	217	5	the	the	DET
aijbms-113	217	6	variables	variable	NOUN
aijbms-113	217	7	confirms	confirm	VERB
aijbms-113	217	8	the	the	DET
aijbms-113	217	9	a	a	PRON
aijbms-113	217	10	-	-	PUNCT
aijbms-113	217	11	priori	priori	ADJ
aijbms-113	217	12	expectation	expectation	NOUN
aijbms-113	217	13	of	of	ADP
aijbms-113	217	14	the	the	DET
aijbms-113	217	15	results	result	NOUN
aijbms-113	217	16	and	and	CCONJ
aijbms-113	217	17	validates	validate	VERB
aijbms-113	217	18	the	the	DET
aijbms-113	217	19	agency	agency	NOUN
aijbms-113	217	20	theory	theory	NOUN
aijbms-113	217	21	,	,	PUNCT
aijbms-113	217	22	the	the	DET
aijbms-113	217	23	stakeholders	stakeholder	NOUN
aijbms-113	217	24	’	'	PUNCT
aijbms-113	217	25	theory	theory	NOUN
aijbms-113	217	26	and	and	CCONJ
aijbms-113	217	27	the	the	DET
aijbms-113	217	28	tradeoff	tradeoff	NOUN
aijbms-113	217	29	theory	theory	NOUN
aijbms-113	217	30	as	as	SCONJ
aijbms-113	217	31	formulated	formulate	VERB
aijbms-113	217	32	by	by	ADP
aijbms-113	217	33	mayer	mayer	PROPN
aijbms-113	217	34	in	in	ADP
aijbms-113	217	35	1983	1983	NUM
aijbms-113	217	36	.	.	PUNCT
aijbms-113	218	1	the	the	DET
aijbms-113	218	2	positive	positive	ADJ
aijbms-113	218	3	impact	impact	NOUN
aijbms-113	218	4	confirm	confirm	VERB
aijbms-113	218	5	the	the	DET
aijbms-113	218	6	findings	finding	NOUN
aijbms-113	218	7	of	of	ADP
aijbms-113	218	8	akhtar	akhtar	NOUN
aijbms-113	218	9	,	,	PUNCT
aijbms-113	218	10	et	et	PROPN
aijbms-113	218	11	al	al	PROPN
aijbms-113	218	12	(	(	PUNCT
aijbms-113	218	13	2012	2012	NUM
aijbms-113	218	14	)	)	PUNCT
aijbms-113	218	15	whose	whose	DET
aijbms-113	218	16	result	result	NOUN
aijbms-113	218	17	shows	show	VERB
aijbms-113	218	18	that	that	SCONJ
aijbms-113	218	19	there	there	PRON
aijbms-113	218	20	is	be	VERB
aijbms-113	218	21	a	a	DET
aijbms-113	218	22	general	general	ADJ
aijbms-113	218	23	perception	perception	NOUN
aijbms-113	218	24	that	that	SCONJ
aijbms-113	218	25	a	a	DET
aijbms-113	218	26	relationship	relationship	NOUN
aijbms-113	218	27	exists	exist	VERB
aijbms-113	218	28	between	between	ADP
aijbms-113	218	29	the	the	DET
aijbms-113	218	30	financial	financial	ADJ
aijbms-113	218	31	leverage	leverage	NOUN
aijbms-113	218	32	and	and	CCONJ
aijbms-113	218	33	the	the	DET
aijbms-113	218	34	performance	performance	NOUN
aijbms-113	218	35	of	of	ADP
aijbms-113	218	36	the	the	DET
aijbms-113	218	37	companies	company	NOUN
aijbms-113	218	38	’	'	PUNCT
aijbms-113	218	39	most	most	ADJ
aijbms-113	218	40	of	of	ADP
aijbms-113	218	41	the	the	DET
aijbms-113	218	42	financial	financial	ADJ
aijbms-113	218	43	performance	performance	NOUN
aijbms-113	218	44	indicators	indicator	NOUN
aijbms-113	218	45	have	have	VERB
aijbms-113	218	46	positive	positive	ADJ
aijbms-113	218	47	relationship	relationship	NOUN
aijbms-113	218	48	among	among	ADP
aijbms-113	218	49	leverage	leverage	NOUN
aijbms-113	218	50	and	and	CCONJ
aijbms-113	218	51	the	the	DET
aijbms-113	218	52	financial	financial	ADJ
aijbms-113	218	53	performance	performance	NOUN
aijbms-113	218	54	when	when	SCONJ
aijbms-113	218	55	compare	compare	VERB
aijbms-113	218	56	with	with	ADP
aijbms-113	218	57	debt	debt	NOUN
aijbms-113	218	58	to	to	ADP
aijbms-113	218	59	equity	equity	NOUN
aijbms-113	218	60	ratio	ratio	NOUN
aijbms-113	218	61	while	while	SCONJ
aijbms-113	218	62	the	the	DET
aijbms-113	218	63	gearing	gearing	NOUN
aijbms-113	218	64	ratio	ratio	NOUN
aijbms-113	218	65	indicates	indicate	VERB
aijbms-113	218	66	negative	negative	ADJ
aijbms-113	218	67	relationships	relationship	NOUN
aijbms-113	218	68	with	with	ADP
aijbms-113	218	69	the	the	DET
aijbms-113	218	70	leverage	leverage	NOUN
aijbms-113	218	71	indicators	indicator	NOUN
aijbms-113	218	72	.	.	PUNCT
aijbms-113	219	1	however	however	ADV
aijbms-113	219	2	,	,	PUNCT
aijbms-113	219	3	equity	equity	NOUN
aijbms-113	219	4	ratio	ratio	NOUN
aijbms-113	219	5	,	,	PUNCT
aijbms-113	219	6	total	total	ADJ
aijbms-113	219	7	liability	liability	NOUN
aijbms-113	219	8	ratio	ratio	NOUN
aijbms-113	219	9	and	and	CCONJ
aijbms-113	219	10	long	long	ADJ
aijbms-113	219	11	term	term	NOUN
aijbms-113	219	12	debt	debt	NOUN
aijbms-113	219	13	ratio	ratio	NOUN
aijbms-113	219	14	have	have	VERB
aijbms-113	219	15	positive	positive	ADJ
aijbms-113	219	16	and	and	CCONJ
aijbms-113	219	17	significant	significant	ADJ
aijbms-113	219	18	impact	impact	NOUN
aijbms-113	219	19	on	on	ADP
aijbms-113	219	20	return	return	NOUN
aijbms-113	219	21	on	on	ADP
aijbms-113	219	22	equity	equity	NOUN
aijbms-113	219	23	of	of	ADP
aijbms-113	219	24	the	the	DET
aijbms-113	219	25	selected	select	VERB
aijbms-113	219	26	food	food	NOUN
aijbms-113	219	27	and	and	CCONJ
aijbms-113	219	28	beverage	beverage	NOUN
aijbms-113	219	29	firms	firm	NOUN
aijbms-113	219	30	.	.	PUNCT
aijbms-113	220	1	this	this	DET
aijbms-113	220	2	finding	finding	NOUN
aijbms-113	220	3	is	be	AUX
aijbms-113	220	4	expected	expect	VERB
aijbms-113	220	5	and	and	CCONJ
aijbms-113	220	6	confirms	confirm	VERB
aijbms-113	220	7	corporate	corporate	ADJ
aijbms-113	220	8	theories	theory	NOUN
aijbms-113	220	9	such	such	ADJ
aijbms-113	220	10	as	as	ADP
aijbms-113	220	11	the	the	DET
aijbms-113	220	12	agency	agency	NOUN
aijbms-113	220	13	theory	theory	NOUN
aijbms-113	220	14	and	and	CCONJ
aijbms-113	220	15	the	the	DET
aijbms-113	220	16	stake	stake	NOUN
aijbms-113	220	17	holders	holder	NOUN
aijbms-113	220	18	’	'	PUNCT
aijbms-113	220	19	theory	theory	NOUN
aijbms-113	220	20	.	.	PUNCT
aijbms-113	221	1	it	it	PRON
aijbms-113	221	2	validates	validate	VERB
aijbms-113	221	3	existing	exist	VERB
aijbms-113	221	4	empirical	empirical	ADJ
aijbms-113	221	5	findings	finding	NOUN
aijbms-113	221	6	such	such	ADJ
aijbms-113	221	7	as	as	ADP
aijbms-113	221	8	akhtar	akhtar	NOUN
aijbms-113	221	9	,	,	PUNCT
aijbms-113	221	10	(	(	PUNCT
aijbms-113	221	11	2012	2012	NUM
aijbms-113	221	12	)	)	PUNCT
aijbms-113	221	13	that	that	SCONJ
aijbms-113	221	14	the	the	DET
aijbms-113	221	15	use	use	NOUN
aijbms-113	221	16	financial	financial	ADJ
aijbms-113	221	17	leverage	leverage	NOUN
aijbms-113	221	18	results	result	NOUN
aijbms-113	221	19	in	in	ADP
aijbms-113	221	20	improved	improved	ADJ
aijbms-113	221	21	financial	financial	ADJ
aijbms-113	221	22	situation	situation	NOUN
aijbms-113	221	23	,	,	PUNCT
aijbms-113	221	24	in	in	ADP
aijbms-113	221	25	another	another	DET
aijbms-113	221	26	words	word	NOUN
aijbms-113	221	27	showing	show	VERB
aijbms-113	221	28	that	that	SCONJ
aijbms-113	221	29	there	there	PRON
aijbms-113	221	30	is	be	VERB
aijbms-113	221	31	a	a	DET
aijbms-113	221	32	positive	positive	ADJ
aijbms-113	221	33	relationship	relationship	NOUN
aijbms-113	221	34	between	between	ADP
aijbms-113	221	35	leverage	leverage	NOUN
aijbms-113	221	36	&	&	CCONJ
aijbms-113	221	37	the	the	DET
aijbms-113	221	38	performance	performance	NOUN
aijbms-113	221	39	of	of	ADP
aijbms-113	221	40	the	the	DET
aijbms-113	221	41	companies	company	NOUN
aijbms-113	221	42	,	,	PUNCT
aijbms-113	221	43	subai'i	subai'i	PROPN
aijbms-113	221	44	(	(	PUNCT
aijbms-113	221	45	2012	2012	NUM
aijbms-113	221	46	)	)	PUNCT
aijbms-113	221	47	that	that	SCONJ
aijbms-113	221	48	there	there	PRON
aijbms-113	221	49	is	be	VERB
aijbms-113	221	50	positive	positive	ADJ
aijbms-113	221	51	relationship	relationship	NOUN
aijbms-113	221	52	between	between	ADP
aijbms-113	221	53	financial	financial	ADJ
aijbms-113	221	54	leverage	leverage	NOUN
aijbms-113	221	55	&	&	CCONJ
aijbms-113	221	56	return	return	VERB
aijbms-113	221	57	on	on	ADP
aijbms-113	221	58	investment	investment	NOUN
aijbms-113	221	59	for	for	ADP
aijbms-113	221	60	all	all	PRON
aijbms-113	221	61	of	of	ADP
aijbms-113	221	62	the	the	DET
aijbms-113	221	63	economy	economy	NOUN
aijbms-113	221	64	sectors	sector	NOUN
aijbms-113	221	65	,	,	PUNCT
aijbms-113	221	66	al	al	PROPN
aijbms-113	221	67	-	-	PROPN
aijbms-113	221	68	tally	tally	PROPN
aijbms-113	221	69	(	(	PUNCT
aijbms-113	221	70	2014	2014	NUM
aijbms-113	221	71	that	that	DET
aijbms-113	221	72	positive	positive	ADJ
aijbms-113	221	73	relationship	relationship	NOUN
aijbms-113	221	74	between	between	ADP
aijbms-113	221	75	financial	financial	ADJ
aijbms-113	221	76	leverage	leverage	NOUN
aijbms-113	221	77	and	and	CCONJ
aijbms-113	221	78	performance	performance	NOUN
aijbms-113	221	79	and	and	CCONJ
aijbms-113	221	80	the	the	DET
aijbms-113	221	81	findings	finding	NOUN
aijbms-113	221	82	of	of	ADP
aijbms-113	221	83	krivogorsky	krivogorsky	PROPN
aijbms-113	221	84	et	et	PROPN
aijbms-113	221	85	al	al	PROPN
aijbms-113	221	86	(	(	PUNCT
aijbms-113	221	87	2009	2009	NUM
aijbms-113	221	88	)	)	PUNCT
aijbms-113	221	89	but	but	CCONJ
aijbms-113	221	90	contradict	contradict	VERB
aijbms-113	221	91	the	the	DET
aijbms-113	221	92	findings	finding	NOUN
aijbms-113	221	93	of	of	ADP
aijbms-113	221	94	enuju	enuju	ADJ
aijbms-113	221	95	and	and	CCONJ
aijbms-113	221	96	soocheong	soocheong	NOUN
aijbms-113	221	97	(	(	PUNCT
aijbms-113	221	98	2005	2005	NUM
aijbms-113	221	99	)	)	PUNCT
aijbms-113	221	100	that	that	SCONJ
aijbms-113	221	101	financial	financial	ADJ
aijbms-113	221	102	leverage	leverage	NOUN
aijbms-113	221	103	does	do	AUX
aijbms-113	221	104	not	not	PART
aijbms-113	221	105	influence	influence	VERB
aijbms-113	221	106	the	the	DET
aijbms-113	221	107	restaurant	restaurant	NOUN
aijbms-113	221	108	firms	firm	NOUN
aijbms-113	221	109	’	’	PART
aijbms-113	221	110	profitability	profitability	NOUN
aijbms-113	221	111	,	,	PUNCT
aijbms-113	221	112	nazir	nazir	PROPN
aijbms-113	221	113	and	and	CCONJ
aijbms-113	221	114	saita	saita	PROPN
aijbms-113	221	115	(	(	PUNCT
aijbms-113	221	116	2013	2013	NUM
aijbms-113	221	117	)	)	PUNCT
aijbms-113	221	118	that	that	SCONJ
aijbms-113	221	119	general	general	ADJ
aijbms-113	221	120	and	and	CCONJ
aijbms-113	221	121	admin	admin	ADJ
aijbms-113	221	122	expense	expense	NOUN
aijbms-113	221	123	into	into	ADP
aijbms-113	221	124	to	to	ADP
aijbms-113	221	125	sales	sale	NOUN
aijbms-113	221	126	ratio	ratio	NOUN
aijbms-113	221	127	is	be	AUX
aijbms-113	221	128	negatively	negatively	ADV
aijbms-113	221	129	related	relate	VERB
aijbms-113	221	130	to	to	ADP
aijbms-113	221	131	all	all	DET
aijbms-113	221	132	four	four	NUM
aijbms-113	221	133	leverage	leverage	NOUN
aijbms-113	221	134	ratio	ratio	NOUN
aijbms-113	221	135	,	,	PUNCT
aijbms-113	221	136	akbarian	akbarian	PROPN
aijbms-113	221	137	(	(	PUNCT
aijbms-113	221	138	2013	2013	NUM
aijbms-113	221	139	)	)	PUNCT
aijbms-113	221	140	that	that	SCONJ
aijbms-113	221	141	there	there	PRON
aijbms-113	221	142	is	be	VERB
aijbms-113	221	143	a	a	DET
aijbms-113	221	144	negative	negative	ADJ
aijbms-113	221	145	relation	relation	NOUN
aijbms-113	221	146	between	between	ADP
aijbms-113	221	147	financial	financial	ADJ
aijbms-113	221	148	leverage	leverage	NOUN
aijbms-113	221	149	and	and	CCONJ
aijbms-113	221	150	dividend	dividend	NOUN
aijbms-113	221	151	per	per	ADP
aijbms-113	221	152	share	share	NOUN
aijbms-113	221	153	and	and	CCONJ
aijbms-113	221	154	between	between	ADP
aijbms-113	221	155	market	market	NOUN
aijbms-113	221	156	risk	risk	NOUN
aijbms-113	221	157	and	and	CCONJ
aijbms-113	221	158	economic	economic	ADJ
aijbms-113	221	159	risk	risk	NOUN
aijbms-113	221	160	with	with	ADP
aijbms-113	221	161	free	free	ADJ
aijbms-113	221	162	cash	cash	NOUN
aijbms-113	221	163	flow	flow	NOUN
aijbms-113	221	164	per	per	ADP
aijbms-113	221	165	share	share	NOUN
aijbms-113	221	166	positive	positive	ADJ
aijbms-113	221	167	significant	significant	ADJ
aijbms-113	221	168	,	,	PUNCT
aijbms-113	221	169	rao	rao	PROPN
aijbms-113	221	170	et	et	PROPN
aijbms-113	221	171	al	al	PROPN
aijbms-113	221	172	.	.	PROPN
aijbms-113	222	1	(	(	PUNCT
aijbms-113	222	2	2007	2007	NUM
aijbms-113	222	3	)	)	PUNCT
aijbms-113	222	4	also	also	ADV
aijbms-113	222	5	confirm	confirm	VERB
aijbms-113	222	6	the	the	DET
aijbms-113	222	7	negative	negative	ADJ
aijbms-113	222	8	relationship	relationship	NOUN
aijbms-113	222	9	between	between	ADP
aijbms-113	222	10	leverage	leverage	NOUN
aijbms-113	222	11	and	and	CCONJ
aijbms-113	222	12	performance	performance	NOUN
aijbms-113	222	13	result	result	NOUN
aijbms-113	222	14	,	,	PUNCT
aijbms-113	222	15	jelinek	jelinek	NOUN
aijbms-113	222	16	(	(	PUNCT
aijbms-113	222	17	2007	2007	NUM
aijbms-113	222	18	)	)	PUNCT
aijbms-113	222	19	that	that	DET
aijbms-113	222	20	firm	firm	ADJ
aijbms-113	222	21	experiencing	experience	VERB
aijbms-113	222	22	an	an	DET
aijbms-113	222	23	increase	increase	NOUN
aijbms-113	222	24	in	in	ADP
aijbms-113	222	25	financial	financial	ADJ
aijbms-113	222	26	leverage	leverage	NOUN
aijbms-113	222	27	during	during	ADP
aijbms-113	222	28	a	a	DET
aijbms-113	222	29	five	five	NUM
aijbms-113	222	30	year	year	NOUN
aijbms-113	222	31	period	period	NOUN
aijbms-113	222	32	gradually	gradually	ADV
aijbms-113	222	33	compared	compare	VERB
aijbms-113	222	34	to	to	ADP
aijbms-113	222	35	those	those	PRON
aijbms-113	222	36	which	which	PRON
aijbms-113	222	37	had	have	VERB
aijbms-113	222	38	high	high	ADJ
aijbms-113	222	39	leverage	leverage	NOUN
aijbms-113	222	40	degree	degree	NOUN
aijbms-113	222	41	in	in	ADP
aijbms-113	222	42	the	the	DET
aijbms-113	222	43	same	same	ADJ
aijbms-113	222	44	period	period	NOUN
aijbms-113	222	45	has	have	AUX
aijbms-113	222	46	performed	perform	VERB
aijbms-113	222	47	less	less	ADJ
aijbms-113	222	48	earnings	earning	NOUN
aijbms-113	222	49	management	management	NOUN
aijbms-113	222	50	and	and	CCONJ
aijbms-113	222	51	the	the	DET
aijbms-113	222	52	findings	finding	NOUN
aijbms-113	222	53	of	of	ADP
aijbms-113	222	54	alcock	alcock	NOUN
aijbms-113	222	55	,	,	PUNCT
aijbms-113	222	56	et	et	PROPN
aijbms-113	222	57	al	al	PROPN
aijbms-113	222	58	(	(	PUNCT
aijbms-113	222	59	2013	2013	NUM
aijbms-113	222	60	)	)	PUNCT
aijbms-113	222	61	that	that	PRON
aijbms-113	222	62	funds	fund	NOUN
aijbms-113	222	63	overall	overall	ADV
aijbms-113	222	64	are	be	AUX
aijbms-113	222	65	unable	unable	ADJ
aijbms-113	222	66	to	to	PART
aijbms-113	222	67	deliver	deliver	VERB
aijbms-113	222	68	significant	significant	ADJ
aijbms-113	222	69	positive	positive	ADJ
aijbms-113	222	70	out	out	ADJ
aijbms-113	222	71	performance	performance	NOUN
aijbms-113	222	72	on	on	ADP
aijbms-113	222	73	the	the	DET
aijbms-113	222	74	basis	basis	NOUN
aijbms-113	222	75	of	of	ADP
aijbms-113	222	76	managerial	managerial	ADJ
aijbms-113	222	77	skill	skill	NOUN
aijbms-113	222	78	that	that	PRON
aijbms-113	222	79	is	be	AUX
aijbms-113	222	80	unrelated	unrelated	ADJ
aijbms-113	222	81	to	to	ADP
aijbms-113	222	82	the	the	DET
aijbms-113	222	83	exposure	exposure	NOUN
aijbms-113	222	84	to	to	ADP
aijbms-113	222	85	the	the	DET
aijbms-113	222	86	variation	variation	NOUN
aijbms-113	222	87	in	in	ADP
aijbms-113	222	88	the	the	DET
aijbms-113	222	89	underlying	underlie	VERB
aijbms-113	222	90	market	market	NOUN
aijbms-113	222	91	return	return	NOUN
aijbms-113	222	92	.	.	PUNCT
aijbms-113	223	1	the	the	DET
aijbms-113	223	2	result	result	NOUN
aijbms-113	223	3	implies	imply	VERB
aijbms-113	223	4	that	that	SCONJ
aijbms-113	223	5	the	the	DET
aijbms-113	223	6	more	more	ADV
aijbms-113	223	7	quoted	quote	VERB
aijbms-113	223	8	manufacturing	manufacturing	NOUN
aijbms-113	223	9	firms	firm	NOUN
aijbms-113	223	10	mix	mix	VERB
aijbms-113	223	11	their	their	PRON
aijbms-113	223	12	equity	equity	NOUN
aijbms-113	223	13	and	and	CCONJ
aijbms-113	223	14	debt	debt	NOUN
aijbms-113	223	15	properly	properly	ADV
aijbms-113	223	16	,	,	PUNCT
aijbms-113	223	17	the	the	DET
aijbms-113	223	18	more	more	ADJ
aijbms-113	223	19	return	return	NOUN
aijbms-113	223	20	to	to	PART
aijbms-113	223	21	be	be	AUX
aijbms-113	223	22	generated	generate	VERB
aijbms-113	223	23	on	on	ADP
aijbms-113	223	24	equity	equity	NOUN
aijbms-113	223	25	,	,	PUNCT
aijbms-113	223	26	assets	asset	NOUN
aijbms-113	223	27	and	and	CCONJ
aijbms-113	223	28	investments	investment	NOUN
aijbms-113	223	29	.	.	PUNCT
aijbms-113	224	1	the	the	DET
aijbms-113	224	2	study	study	NOUN
aijbms-113	224	3	reveals	reveal	VERB
aijbms-113	224	4	that	that	SCONJ
aijbms-113	224	5	the	the	DET
aijbms-113	224	6	performance	performance	NOUN
aijbms-113	224	7	indicators	indicator	NOUN
aijbms-113	224	8	of	of	ADP
aijbms-113	224	9	the	the	DET
aijbms-113	224	10	sampled	sample	VERB
aijbms-113	224	11	quoted	quote	VERB
aijbms-113	224	12	food	food	NOUN
aijbms-113	224	13	and	and	CCONJ
aijbms-113	224	14	beverage	beverage	NOUN
aijbms-113	224	15	firms	firm	NOUN
aijbms-113	224	16	can	can	AUX
aijbms-113	224	17	be	be	AUX
aijbms-113	224	18	explained	explain	VERB
aijbms-113	224	19	by	by	ADP
aijbms-113	224	20	the	the	DET
aijbms-113	224	21	influence	influence	NOUN
aijbms-113	224	22	of	of	ADP
aijbms-113	224	23	financial	financial	ADJ
aijbms-113	224	24	leverage	leverage	NOUN
aijbms-113	224	25	in	in	ADP
aijbms-113	224	26	addition	addition	NOUN
aijbms-113	224	27	,	,	PUNCT
aijbms-113	224	28	nigerian	nigerian	ADJ
aijbms-113	224	29	quoted	quote	VERB
aijbms-113	224	30	firms	firm	NOUN
aijbms-113	224	31	performed	perform	VERB
aijbms-113	224	32	remarkably	remarkably	ADV
aijbms-113	224	33	well	well	ADV
aijbms-113	224	34	within	within	ADP
aijbms-113	224	35	the	the	DET
aijbms-113	224	36	period	period	NOUN
aijbms-113	224	37	of	of	ADP
aijbms-113	224	38	the	the	DET
aijbms-113	224	39	study	study	NOUN
aijbms-113	224	40	as	as	SCONJ
aijbms-113	224	41	shown	show	VERB
aijbms-113	224	42	by	by	ADP
aijbms-113	224	43	the	the	DET
aijbms-113	224	44	data	datum	NOUN
aijbms-113	224	45	computed	compute	VERB
aijbms-113	224	46	from	from	ADP
aijbms-113	224	47	the	the	DET
aijbms-113	224	48	financial	financial	ADJ
aijbms-113	224	49	statement	statement	NOUN
aijbms-113	224	50	.	.	PUNCT
aijbms-113	225	1	leverage	leverage	NOUN
aijbms-113	225	2	has	have	VERB
aijbms-113	225	3	significant	significant	ADJ
aijbms-113	225	4	effect	effect	NOUN
aijbms-113	225	5	on	on	ADP
aijbms-113	225	6	their	their	PRON
aijbms-113	225	7	profitability	profitability	NOUN
aijbms-113	225	8	.	.	PUNCT
aijbms-113	226	1	conclusions	conclusion	NOUN
aijbms-113	226	2	and	and	CCONJ
aijbms-113	226	3	recommendations	recommendation	NOUN
aijbms-113	226	4	this	this	DET
aijbms-113	226	5	study	study	NOUN
aijbms-113	226	6	investigates	investigate	VERB
aijbms-113	226	7	the	the	DET
aijbms-113	226	8	effect	effect	NOUN
aijbms-113	226	9	of	of	ADP
aijbms-113	226	10	financial	financial	ADJ
aijbms-113	226	11	leverage	leverage	NOUN
aijbms-113	226	12	on	on	ADP
aijbms-113	226	13	the	the	DET
aijbms-113	226	14	profitability	profitability	NOUN
aijbms-113	226	15	of	of	ADP
aijbms-113	226	16	quoted	quote	VERB
aijbms-113	226	17	food	food	NOUN
aijbms-113	226	18	and	and	CCONJ
aijbms-113	226	19	beverage	beverage	NOUN
aijbms-113	226	20	firms	firm	NOUN
aijbms-113	226	21	in	in	ADP
aijbms-113	226	22	nigeria	nigeria	PROPN
aijbms-113	226	23	.	.	PUNCT
aijbms-113	227	1	the	the	DET
aijbms-113	227	2	problem	problem	NOUN
aijbms-113	227	3	of	of	ADP
aijbms-113	227	4	the	the	DET
aijbms-113	227	5	study	study	NOUN
aijbms-113	227	6	therefore	therefore	ADV
aijbms-113	227	7	emanated	emanate	VERB
aijbms-113	227	8	from	from	ADP
aijbms-113	227	9	at	at	ADV
aijbms-113	227	10	least	least	ADV
aijbms-113	227	11	two	two	NUM
aijbms-113	227	12	reasons	reason	NOUN
aijbms-113	227	13	:	:	PUNCT
aijbms-113	227	14	first	first	ADV
aijbms-113	227	15	,	,	PUNCT
aijbms-113	227	16	the	the	DET
aijbms-113	227	17	reform	reform	NOUN
aijbms-113	227	18	in	in	ADP
aijbms-113	227	19	the	the	DET
aijbms-113	227	20	nigerian	nigerian	ADJ
aijbms-113	227	21	financial	financial	ADJ
aijbms-113	227	22	market	market	NOUN
aijbms-113	227	23	was	be	AUX
aijbms-113	227	24	aimed	aim	VERB
aijbms-113	227	25	at	at	ADP
aijbms-113	227	26	simplifying	simplify	VERB
aijbms-113	227	27	the	the	DET
aijbms-113	227	28	source	source	NOUN
aijbms-113	227	29	of	of	ADP
aijbms-113	227	30	both	both	DET
aijbms-113	227	31	equity	equity	NOUN
aijbms-113	227	32	and	and	CCONJ
aijbms-113	227	33	debt	debt	NOUN
aijbms-113	227	34	capital	capital	NOUN
aijbms-113	227	35	for	for	ADP
aijbms-113	227	36	better	well	ADJ
aijbms-113	227	37	performance	performance	NOUN
aijbms-113	227	38	of	of	ADP
aijbms-113	227	39	the	the	DET
aijbms-113	227	40	quoted	quote	VERB
aijbms-113	227	41	firms	firm	NOUN
aijbms-113	227	42	.	.	PUNCT
aijbms-113	228	1	for	for	ADP
aijbms-113	228	2	instance	instance	NOUN
aijbms-113	228	3	the	the	DET
aijbms-113	228	4	deregulation	deregulation	NOUN
aijbms-113	228	5	of	of	ADP
aijbms-113	228	6	interest	interest	NOUN
aijbms-113	228	7	rate	rate	NOUN
aijbms-113	228	8	and	and	CCONJ
aijbms-113	228	9	the	the	DET
aijbms-113	228	10	financial	financial	ADJ
aijbms-113	228	11	market	market	NOUN
aijbms-113	228	12	was	be	AUX
aijbms-113	228	13	aimed	aim	VERB
aijbms-113	228	14	at	at	ADP
aijbms-113	228	15	reducing	reduce	VERB
aijbms-113	228	16	the	the	DET
aijbms-113	228	17	cost	cost	NOUN
aijbms-113	228	18	of	of	ADP
aijbms-113	228	19	capital	capital	NOUN
aijbms-113	228	20	which	which	PRON
aijbms-113	228	21	is	be	AUX
aijbms-113	228	22	the	the	DET
aijbms-113	228	23	prerequisite	prerequisite	NOUN
aijbms-113	228	24	for	for	ADP
aijbms-113	228	25	corporate	corporate	ADJ
aijbms-113	228	26	profitability	profitability	NOUN
aijbms-113	228	27	,	,	PUNCT
aijbms-113	228	28	second	second	ADJ
aijbms-113	228	29	,	,	PUNCT
aijbms-113	228	30	to	to	PART
aijbms-113	228	31	validate	validate	VERB
aijbms-113	228	32	existing	exist	VERB
aijbms-113	228	33	studies	study	NOUN
aijbms-113	228	34	on	on	ADP
aijbms-113	228	35	the	the	DET
aijbms-113	228	36	relationship	relationship	NOUN
aijbms-113	228	37	between	between	ADP
aijbms-113	228	38	financial	financial	ADJ
aijbms-113	228	39	leverage	leverage	NOUN
aijbms-113	228	40	and	and	CCONJ
aijbms-113	228	41	profitability	profitability	NOUN
aijbms-113	228	42	of	of	ADP
aijbms-113	228	43	food	food	NOUN
aijbms-113	228	44	and	and	CCONJ
aijbms-113	228	45	beverage	beverage	NOUN
aijbms-113	228	46	firms	firm	NOUN
aijbms-113	228	47	.	.	PUNCT
aijbms-113	229	1	in	in	ADP
aijbms-113	229	2	view	view	NOUN
aijbms-113	229	3	of	of	ADP
aijbms-113	229	4	the	the	DET
aijbms-113	229	5	above	above	NOUN
aijbms-113	229	6	,	,	PUNCT
aijbms-113	229	7	the	the	DET
aijbms-113	229	8	study	study	NOUN
aijbms-113	229	9	hypothesized	hypothesize	VERB
aijbms-113	229	10	a	a	DET
aijbms-113	229	11	no	no	DET
aijbms-113	229	12	significant	significant	ADJ
aijbms-113	229	13	relationship	relationship	NOUN
aijbms-113	229	14	between	between	ADP
aijbms-113	229	15	measures	measure	NOUN
aijbms-113	229	16	of	of	ADP
aijbms-113	229	17	financial	financial	ADJ
aijbms-113	229	18	leverage	leverage	NOUN
aijbms-113	229	19	and	and	CCONJ
aijbms-113	229	20	two	two	NUM
aijbms-113	229	21	profitability	profitability	NOUN
aijbms-113	229	22	indicators	indicator	NOUN
aijbms-113	229	23	of	of	ADP
aijbms-113	229	24	the	the	DET
aijbms-113	229	25	quoted	quote	VERB
aijbms-113	229	26	food	food	NOUN
aijbms-113	229	27	and	and	CCONJ
aijbms-113	229	28	beverage	beverage	NOUN
aijbms-113	229	29	firms	firm	NOUN
aijbms-113	229	30	namely	namely	ADV
aijbms-113	229	31	;	;	PUNCT
aijbms-113	229	32	return	return	VERB
aijbms-113	229	33	on	on	ADP
aijbms-113	229	34	equity	equity	NOUN
aijbms-113	229	35	and	and	CCONJ
aijbms-113	229	36	return	return	VERB
aijbms-113	229	37	on	on	ADP
aijbms-113	229	38	assets	asset	NOUN
aijbms-113	229	39	.	.	PUNCT
aijbms-113	230	1	the	the	DET
aijbms-113	230	2	findings	finding	NOUN
aijbms-113	230	3	of	of	ADP
aijbms-113	230	4	the	the	DET
aijbms-113	230	5	research	research	NOUN
aijbms-113	230	6	are	be	AUX
aijbms-113	230	7	based	base	VERB
aijbms-113	230	8	on	on	ADP
aijbms-113	230	9	the	the	DET
aijbms-113	230	10	result	result	NOUN
aijbms-113	230	11	of	of	ADP
aijbms-113	230	12	the	the	DET
aijbms-113	230	13	tested	test	VERB
aijbms-113	230	14	hypotheses	hypothesis	NOUN
aijbms-113	230	15	.	.	PUNCT
aijbms-113	231	1	the	the	DET
aijbms-113	231	2	result	result	NOUN
aijbms-113	231	3	of	of	ADP
aijbms-113	231	4	the	the	DET
aijbms-113	231	5	study	study	NOUN
aijbms-113	231	6	reveals	reveal	VERB
aijbms-113	231	7	that	that	SCONJ
aijbms-113	231	8	financial	financial	ADJ
aijbms-113	231	9	leverage	leverage	NOUN
aijbms-113	231	10	measures	measure	NOUN
aijbms-113	231	11	have	have	VERB
aijbms-113	231	12	a	a	DET
aijbms-113	231	13	significant	significant	ADJ
aijbms-113	231	14	effect	effect	NOUN
aijbms-113	231	15	on	on	ADP
aijbms-113	231	16	the	the	DET
aijbms-113	231	17	profitability	profitability	NOUN
aijbms-113	231	18	of	of	ADP
aijbms-113	231	19	the	the	DET
aijbms-113	231	20	quoted	quote	VERB
aijbms-113	231	21	food	food	NOUN
aijbms-113	231	22	and	and	CCONJ
aijbms-113	231	23	beverage	beverage	NOUN
aijbms-113	231	24	firms	firm	NOUN
aijbms-113	231	25	.	.	PUNCT
aijbms-113	232	1	in	in	ADP
aijbms-113	232	2	accordance	accordance	NOUN
aijbms-113	232	3	with	with	ADP
aijbms-113	232	4	the	the	DET
aijbms-113	232	5	research	research	NOUN
aijbms-113	232	6	finding	find	VERB
aijbms-113	232	7	that	that	SCONJ
aijbms-113	232	8	financial	financial	ADJ
aijbms-113	232	9	leverage	leverage	NOUN
aijbms-113	232	10	explain	explain	VERB
aijbms-113	232	11	the	the	DET
aijbms-113	232	12	variables	variable	NOUN
aijbms-113	232	13	of	of	ADP
aijbms-113	232	14	quoted	quote	VERB
aijbms-113	232	15	firm	firm	NOUN
aijbms-113	232	16	’s	’s	PART
aijbms-113	232	17	profitability	profitability	NOUN
aijbms-113	232	18	,	,	PUNCT
aijbms-113	232	19	the	the	DET
aijbms-113	232	20	study	study	NOUN
aijbms-113	232	21	concludes	conclude	VERB
aijbms-113	232	22	as	as	SCONJ
aijbms-113	232	23	follows	follow	VERB
aijbms-113	232	24	.	.	PUNCT
aijbms-113	233	1	firstly	firstly	ADV
aijbms-113	233	2	,	,	PUNCT
aijbms-113	233	3	both	both	CCONJ
aijbms-113	233	4	empirical	empirical	ADJ
aijbms-113	233	5	and	and	CCONJ
aijbms-113	233	6	statistical	statistical	ADJ
aijbms-113	233	7	evidence	evidence	NOUN
aijbms-113	233	8	on	on	ADP
aijbms-113	233	9	the	the	DET
aijbms-113	233	10	effect	effect	NOUN
aijbms-113	233	11	of	of	ADP
aijbms-113	233	12	financial	financial	ADJ
aijbms-113	233	13	leverage	leverage	NOUN
aijbms-113	233	14	on	on	ADP
aijbms-113	233	15	the	the	DET
aijbms-113	233	16	two	two	NUM
aijbms-113	233	17	profitability	profitability	NOUN
aijbms-113	233	18	indicators	indicator	NOUN
aijbms-113	233	19	namely	namely	ADV
aijbms-113	233	20	return	return	VERB
aijbms-113	233	21	on	on	ADP
aijbms-113	233	22	equity	equity	NOUN
aijbms-113	233	23	and	and	CCONJ
aijbms-113	233	24	return	return	VERB
aijbms-113	233	25	on	on	ADP
aijbms-113	233	26	assets	asset	NOUN
aijbms-113	233	27	of	of	ADP
aijbms-113	233	28	the	the	DET
aijbms-113	233	29	quoted	quote	VERB
aijbms-113	233	30	food	food	NOUN
aijbms-113	233	31	and	and	CCONJ
aijbms-113	233	32	beverage	beverage	NOUN
aijbms-113	233	33	firms	firm	NOUN
aijbms-113	233	34	have	have	VERB
aijbms-113	233	35	significant	significant	ADJ
aijbms-113	233	36	effect	effect	NOUN
aijbms-113	233	37	on	on	ADP
aijbms-113	233	38	profitability	profitability	NOUN
aijbms-113	233	39	.	.	PUNCT
aijbms-113	234	1	from	from	ADP
aijbms-113	234	2	the	the	DET
aijbms-113	234	3	financial	financial	ADJ
aijbms-113	234	4	leverage	leverage	NOUN
aijbms-113	234	5	measures	measure	NOUN
aijbms-113	234	6	,	,	PUNCT
aijbms-113	234	7	debt	debt	NOUN
aijbms-113	234	8	equity	equity	NOUN
aijbms-113	234	9	ratio	ratio	NOUN
aijbms-113	234	10	,	,	PUNCT
aijbms-113	234	11	debt	debt	NOUN
aijbms-113	234	12	ratio	ratio	NOUN
aijbms-113	234	13	have	have	VERB
aijbms-113	234	14	negative	negative	ADJ
aijbms-113	234	15	impact	impact	NOUN
aijbms-113	234	16	on	on	ADP
aijbms-113	234	17	return	return	NOUN
aijbms-113	234	18	on	on	ADP
aijbms-113	234	19	assets	asset	NOUN
aijbms-113	234	20	,	,	PUNCT
aijbms-113	234	21	while	while	SCONJ
aijbms-113	234	22	equity	equity	NOUN
aijbms-113	234	23	ratio	ratio	NOUN
aijbms-113	234	24	,	,	PUNCT
aijbms-113	234	25	total	total	ADJ
aijbms-113	234	26	liability	liability	NOUN
aijbms-113	234	27	ratio	ratio	NOUN
aijbms-113	234	28	and	and	CCONJ
aijbms-113	234	29	long	long	ADJ
aijbms-113	234	30	term	term	NOUN
aijbms-113	234	31	debt	debt	NOUN
aijbms-113	234	32	ratio	ratio	NOUN
aijbms-113	234	33	have	have	VERB
aijbms-113	234	34	positive	positive	ADJ
aijbms-113	234	35	impact	impact	NOUN
aijbms-113	234	36	on	on	ADP
aijbms-113	234	37	the	the	DET
aijbms-113	234	38	dependent	dependent	ADJ
aijbms-113	234	39	variable	variable	NOUN
aijbms-113	234	40	.	.	PUNCT
aijbms-113	235	1	debt	debt	NOUN
aijbms-113	235	2	equity	equity	NOUN
aijbms-113	235	3	ratio	ratio	NOUN
aijbms-113	235	4	and	and	CCONJ
aijbms-113	235	5	long	long	ADJ
aijbms-113	235	6	term	term	NOUN
aijbms-113	235	7	debt	debt	NOUN
aijbms-113	235	8	have	have	VERB
aijbms-113	235	9	positive	positive	ADJ
aijbms-113	235	10	impact	impact	NOUN
aijbms-113	235	11	on	on	ADP
aijbms-113	235	12	return	return	NOUN
aijbms-113	235	13	on	on	ADP
aijbms-113	235	14	capital	capital	NOUN
aijbms-113	235	15	employed	employ	VERB
aijbms-113	235	16	while	while	SCONJ
aijbms-113	235	17	debt	debt	NOUN
aijbms-113	235	18	ratio	ratio	NOUN
aijbms-113	235	19	,	,	PUNCT
aijbms-113	235	20	equity	equity	NOUN
aijbms-113	235	21	ratio	ratio	NOUN
aijbms-113	235	22	and	and	CCONJ
aijbms-113	235	23	total	total	ADJ
aijbms-113	235	24	liability	liability	NOUN
aijbms-113	235	25	ratio	ratio	NOUN
aijbms-113	235	26	have	have	VERB
aijbms-113	235	27	negative	negative	ADJ
aijbms-113	235	28	impact	impact	NOUN
aijbms-113	235	29	on	on	ADP
aijbms-113	235	30	the	the	DET
aijbms-113	235	31	dependent	dependent	ADJ
aijbms-113	235	32	variable	variable	NOUN
aijbms-113	235	33	.	.	PUNCT
aijbms-113	236	1	www.acseusa.org/journal/index.php/aijbms	www.acseusa.org/journal/index.php/aijbms	PROPN
aijbms-113	236	2	american	american	PROPN
aijbms-113	236	3	international	international	PROPN
aijbms-113	236	4	journal	journal	PROPN
aijbms-113	236	5	of	of	ADP
aijbms-113	236	6	business	business	NOUN
aijbms-113	236	7	and	and	CCONJ
aijbms-113	236	8	management	management	NOUN
aijbms-113	236	9	studies	study	NOUN
aijbms-113	236	10	vol	vol	NOUN
aijbms-113	236	11	.	.	PROPN
aijbms-113	237	1	1	1	NUM
aijbms-113	237	2	,	,	PUNCT
aijbms-113	237	3	no	no	INTJ
aijbms-113	237	4	.	.	NOUN
aijbms-113	237	5	1	1	NUM
aijbms-113	237	6	;	;	PUNCT
aijbms-113	237	7	2019	2019	NUM
aijbms-113	237	8	58	58	NUM
aijbms-113	237	9	secondly	secondly	ADV
aijbms-113	237	10	,	,	PUNCT
aijbms-113	237	11	the	the	DET
aijbms-113	237	12	study	study	NOUN
aijbms-113	237	13	also	also	ADV
aijbms-113	237	14	concludes	conclude	VERB
aijbms-113	237	15	that	that	SCONJ
aijbms-113	237	16	concludes	conclude	VERB
aijbms-113	237	17	that	that	SCONJ
aijbms-113	237	18	financial	financial	ADJ
aijbms-113	237	19	leverage	leverage	NOUN
aijbms-113	237	20	measures	measure	NOUN
aijbms-113	237	21	of	of	ADP
aijbms-113	237	22	the	the	DET
aijbms-113	237	23	quoted	quote	VERB
aijbms-113	237	24	food	food	NOUN
aijbms-113	237	25	and	and	CCONJ
aijbms-113	237	26	beverage	beverage	NOUN
aijbms-113	237	27	firms	firm	NOUN
aijbms-113	237	28	fluctuates	fluctuate	VERB
aijbms-113	237	29	over	over	ADP
aijbms-113	237	30	the	the	DET
aijbms-113	237	31	period	period	NOUN
aijbms-113	237	32	covered	cover	VERB
aijbms-113	237	33	in	in	ADP
aijbms-113	237	34	the	the	DET
aijbms-113	237	35	study	study	NOUN
aijbms-113	237	36	.	.	PUNCT
aijbms-113	238	1	this	this	PRON
aijbms-113	238	2	may	may	AUX
aijbms-113	238	3	be	be	AUX
aijbms-113	238	4	because	because	SCONJ
aijbms-113	238	5	of	of	ADP
aijbms-113	238	6	management	management	NOUN
aijbms-113	238	7	attempt	attempt	NOUN
aijbms-113	238	8	to	to	PART
aijbms-113	238	9	formulate	formulate	VERB
aijbms-113	238	10	optimal	optimal	ADJ
aijbms-113	238	11	capital	capital	NOUN
aijbms-113	238	12	structure	structure	NOUN
aijbms-113	238	13	of	of	ADP
aijbms-113	238	14	the	the	DET
aijbms-113	238	15	firms	firm	NOUN
aijbms-113	238	16	.	.	PUNCT
aijbms-113	239	1	recommendations	recommendation	NOUN
aijbms-113	239	2			NOUN
aijbms-113	240	1	the	the	DET
aijbms-113	240	2	management	management	NOUN
aijbms-113	240	3	of	of	ADP
aijbms-113	240	4	the	the	DET
aijbms-113	240	5	firms	firm	NOUN
aijbms-113	240	6	should	should	AUX
aijbms-113	240	7	work	work	VERB
aijbms-113	240	8	very	very	ADV
aijbms-113	240	9	hard	hard	ADV
aijbms-113	240	10	to	to	PART
aijbms-113	240	11	optimize	optimize	VERB
aijbms-113	240	12	the	the	DET
aijbms-113	240	13	capital	capital	NOUN
aijbms-113	240	14	structure	structure	NOUN
aijbms-113	240	15	in	in	ADP
aijbms-113	240	16	order	order	NOUN
aijbms-113	240	17	to	to	PART
aijbms-113	240	18	increase	increase	VERB
aijbms-113	240	19	the	the	DET
aijbms-113	240	20	returns	return	NOUN
aijbms-113	240	21	on	on	ADP
aijbms-113	240	22	equity	equity	NOUN
aijbms-113	240	23	and	and	CCONJ
aijbms-113	240	24	assets	asset	NOUN
aijbms-113	240	25	.	.	PUNCT
aijbms-113	241	1	they	they	PRON
aijbms-113	241	2	can	can	AUX
aijbms-113	241	3	do	do	VERB
aijbms-113	241	4	that	that	PRON
aijbms-113	241	5	through	through	ADP
aijbms-113	241	6	ensuring	ensure	VERB
aijbms-113	241	7	that	that	SCONJ
aijbms-113	241	8	their	their	PRON
aijbms-113	241	9	capital	capital	NOUN
aijbms-113	241	10	structure	structure	NOUN
aijbms-113	241	11	is	be	AUX
aijbms-113	241	12	optimal	optimal	ADJ
aijbms-113	241	13	.	.	PUNCT
aijbms-113	242	1			PUNCT
aijbms-113	243	1	the	the	DET
aijbms-113	243	2	management	management	NOUN
aijbms-113	243	3	of	of	ADP
aijbms-113	243	4	nigerian	nigerian	ADJ
aijbms-113	243	5	firms	firm	NOUN
aijbms-113	243	6	should	should	AUX
aijbms-113	243	7	increase	increase	VERB
aijbms-113	243	8	their	their	PRON
aijbms-113	243	9	commitments	commitment	NOUN
aijbms-113	243	10	into	into	ADP
aijbms-113	243	11	capital	capital	NOUN
aijbms-113	243	12	structure	structure	NOUN
aijbms-113	243	13	in	in	ADP
aijbms-113	243	14	order	order	NOUN
aijbms-113	243	15	to	to	PART
aijbms-113	243	16	improve	improve	VERB
aijbms-113	243	17	earnings	earning	NOUN
aijbms-113	243	18	from	from	ADP
aijbms-113	243	19	their	their	PRON
aijbms-113	243	20	business	business	NOUN
aijbms-113	243	21	transaction	transaction	NOUN
aijbms-113	243	22	.	.	PUNCT
aijbms-113	244	1			X
aijbms-113	244	2	there	there	PRON
aijbms-113	244	3	is	be	VERB
aijbms-113	244	4	need	need	NOUN
aijbms-113	244	5	to	to	PART
aijbms-113	244	6	caution	caution	VERB
aijbms-113	244	7	against	against	ADP
aijbms-113	244	8	the	the	DET
aijbms-113	244	9	apparent	apparent	ADJ
aijbms-113	244	10	benefits	benefit	NOUN
aijbms-113	244	11	of	of	ADP
aijbms-113	244	12	greater	great	ADJ
aijbms-113	244	13	leverage	leverage	NOUN
aijbms-113	244	14	simply	simply	ADV
aijbms-113	244	15	as	as	ADP
aijbms-113	244	16	a	a	DET
aijbms-113	244	17	device	device	NOUN
aijbms-113	244	18	for	for	ADP
aijbms-113	244	19	controlling	control	VERB
aijbms-113	244	20	managerial	managerial	ADJ
aijbms-113	244	21	opportunistic	opportunistic	ADJ
aijbms-113	244	22	behavior	behavior	NOUN
aijbms-113	244	23	.	.	PUNCT
aijbms-113	245	1	first	first	ADV
aijbms-113	245	2	,	,	PUNCT
aijbms-113	245	3	debt	debt	NOUN
aijbms-113	245	4	and	and	CCONJ
aijbms-113	245	5	equity	equity	NOUN
aijbms-113	245	6	represent	represent	VERB
aijbms-113	245	7	different	different	ADJ
aijbms-113	245	8	constituencies	constituency	NOUN
aijbms-113	245	9	with	with	ADP
aijbms-113	245	10	their	their	PRON
aijbms-113	245	11	own	own	ADJ
aijbms-113	245	12	competing	competing	NOUN
aijbms-113	245	13	,	,	PUNCT
aijbms-113	245	14	and	and	CCONJ
aijbms-113	245	15	often	often	ADV
aijbms-113	245	16	mutually	mutually	ADV
aijbms-113	245	17	exclusive	exclusive	ADJ
aijbms-113	245	18	,	,	PUNCT
aijbms-113	245	19	goals	goal	NOUN
aijbms-113	245	20	.	.	PUNCT
aijbms-113	246	1	second	second	ADJ
aijbms-113	246	2	,	,	PUNCT
aijbms-113	246	3	as	as	ADP
aijbms-113	246	4	the	the	DET
aijbms-113	246	5	level	level	NOUN
aijbms-113	246	6	of	of	ADP
aijbms-113	246	7	debt	debt	NOUN
aijbms-113	246	8	increases	increase	NOUN
aijbms-113	246	9	,	,	PUNCT
aijbms-113	246	10	the	the	DET
aijbms-113	246	11	capital	capital	NOUN
aijbms-113	246	12	structure	structure	NOUN
aijbms-113	246	13	can	can	AUX
aijbms-113	246	14	change	change	VERB
aijbms-113	246	15	from	from	ADP
aijbms-113	246	16	one	one	NUM
aijbms-113	246	17	of	of	ADP
aijbms-113	246	18	internal	internal	ADJ
aijbms-113	246	19	control	control	NOUN
aijbms-113	246	20	to	to	ADP
aijbms-113	246	21	one	one	NUM
aijbms-113	246	22	of	of	ADP
aijbms-113	246	23	external	external	ADJ
aijbms-113	246	24	control	control	NOUN
aijbms-113	246	25	.	.	PUNCT
aijbms-113	247	1			PRON
aijbms-113	247	2	investors	investor	NOUN
aijbms-113	247	3	and	and	CCONJ
aijbms-113	247	4	stakeholders	stakeholder	NOUN
aijbms-113	247	5	of	of	ADP
aijbms-113	247	6	the	the	DET
aijbms-113	247	7	quoted	quote	VERB
aijbms-113	247	8	food	food	NOUN
aijbms-113	247	9	and	and	CCONJ
aijbms-113	247	10	beverage	beverage	NOUN
aijbms-113	247	11	firms	firm	NOUN
aijbms-113	247	12	should	should	AUX
aijbms-113	247	13	also	also	ADV
aijbms-113	247	14			ADV
aijbms-113	247	15	consider	consider	VERB
aijbms-113	247	16	the	the	DET
aijbms-113	247	17	leverage	leverage	NOUN
aijbms-113	247	18	level	level	NOUN
aijbms-113	247	19	of	of	ADP
aijbms-113	247	20	any	any	DET
aijbms-113	247	21	firm	firm	NOUN
aijbms-113	247	22	before	before	ADP
aijbms-113	247	23	committing	commit	VERB
aijbms-113	247	24	their	their	PRON
aijbms-113	247	25	hard	hard	ADJ
aijbms-113	247	26	earned	earn	VERB
aijbms-113	247	27	money	money	NOUN
aijbms-113	247	28	as	as	SCONJ
aijbms-113	247	29	the	the	DET
aijbms-113	247	30	strength	strength	NOUN
aijbms-113	247	31	of	of	ADP
aijbms-113	247	32	a	a	DET
aijbms-113	247	33	firm	firm	ADJ
aijbms-113	247	34	financing	financing	NOUN
aijbms-113	247	35	mix	mix	NOUN
aijbms-113	247	36	determine	determine	VERB
aijbms-113	247	37	the	the	DET
aijbms-113	247	38	quantum	quantum	NOUN
aijbms-113	247	39	of	of	ADP
aijbms-113	247	40	their	their	PRON
aijbms-113	247	41	returns	return	NOUN
aijbms-113	247	42	.	.	PUNCT
aijbms-113	248	1	references	reference	NOUN
aijbms-113	248	2	abdallah	abdallah	PROPN
aijbms-113	248	3	b.	b.	PROPN
aijbms-113	248	4	,	,	PUNCT
aijbms-113	248	5	(	(	PUNCT
aijbms-113	248	6	2012	2012	NUM
aijbms-113	248	7	)	)	PUNCT
aijbms-113	248	8	.	.	PUNCT
aijbms-113	249	1	trends	trend	NOUN
aijbms-113	249	2	in	in	ADP
aijbms-113	249	3	working	work	VERB
aijbms-113	249	4	capital	capital	NOUN
aijbms-113	249	5	management	management	NOUN
aijbms-113	249	6	and	and	CCONJ
aijbms-113	249	7	its	its	PRON
aijbms-113	249	8	impacts	impact	NOUN
aijbms-113	249	9	on	on	ADP
aijbms-113	249	10	firm	firm	NOUN
aijbms-113	249	11	's	's	PART
aijbms-113	249	12	profitability	profitability	NOUN
aijbms-113	249	13	and	and	CCONJ
aijbms-113	249	14	value	value	NOUN
aijbms-113	249	15	.	.	PUNCT
aijbms-113	250	1	journal	journal	NOUN
aijbms-113	250	2	of	of	ADP
aijbms-113	250	3	studies	study	NOUN
aijbms-113	250	4	and	and	CCONJ
aijbms-113	250	5	business	business	NOUN
aijbms-113	250	6	research	research	NOUN
aijbms-113	250	7	issue	issue	NOUN
aijbms-113	250	8	.	.	PUNCT
aijbms-113	251	1	2(2	2(2	NUM
aijbms-113	251	2	)	)	PUNCT
aijbms-113	251	3	,	,	PUNCT
aijbms-113	252	1	12	12	NUM
aijbms-113	252	2	-	-	SYM
aijbms-113	252	3	30	30	NUM
aijbms-113	252	4	.	.	PUNCT
aijbms-113	252	5	akbarian	akbarian	PROPN
aijbms-113	252	6	,	,	PUNCT
aijbms-113	252	7	s.	s.	PROPN
aijbms-113	252	8	,	,	PUNCT
aijbms-113	252	9	(	(	PUNCT
aijbms-113	252	10	2013	2013	NUM
aijbms-113	252	11	)	)	PUNCT
aijbms-113	252	12	.	.	PUNCT
aijbms-113	253	1	the	the	DET
aijbms-113	253	2	investigation	investigation	NOUN
aijbms-113	253	3	effect	effect	NOUN
aijbms-113	253	4	of	of	ADP
aijbms-113	253	5	financial	financial	ADJ
aijbms-113	253	6	leverage	leverage	NOUN
aijbms-113	253	7	and	and	CCONJ
aijbms-113	253	8	environment	environment	NOUN
aijbms-113	253	9	risk	risk	NOUN
aijbms-113	253	10	on	on	ADP
aijbms-113	253	11	performance	performance	NOUN
aijbms-113	253	12	firms	firm	NOUN
aijbms-113	253	13	of	of	ADP
aijbms-113	253	14	listed	list	VERB
aijbms-113	253	15	companies	company	NOUN
aijbms-113	253	16	in	in	ADP
aijbms-113	253	17	tehran	tehran	PROPN
aijbms-113	253	18	stock	stock	PROPN
aijbms-113	253	19	exchange	exchange	PROPN
aijbms-113	253	20	.	.	PUNCT
aijbms-113	254	1	8(3	8(3	NUM
aijbms-113	254	2	)	)	PUNCT
aijbms-113	254	3	,	,	PUNCT
aijbms-113	254	4	249	249	NUM
aijbms-113	254	5	–	–	PUNCT
aijbms-113	254	6	255	255	NUM
aijbms-113	254	7	.	.	PUNCT
aijbms-113	255	1	akhtar	akhtar	PROPN
aijbms-113	255	2	,	,	PUNCT
aijbms-113	255	3	s	s	PROPN
aijbms-113	255	4	;	;	PUNCT
aijbms-113	255	5	javed	javed	ADJ
aijbms-113	255	6	,	,	PUNCT
aijbms-113	255	7	b	b	NOUN
aijbms-113	255	8	;	;	PUNCT
aijbms-113	255	9	maryam	maryam	PROPN
aijbms-113	255	10	,	,	PUNCT
aijbms-113	255	11	a.	a.	PROPN
aijbms-113	255	12	,	,	PUNCT
aijbms-113	255	13	&	&	CCONJ
aijbms-113	255	14	sadia	sadia	PROPN
aijbms-113	255	15	,	,	PUNCT
aijbms-113	255	16	h.	h.	PROPN
aijbms-113	255	17	,	,	PUNCT
aijbms-113	255	18	(	(	PUNCT
aijbms-113	255	19	2012	2012	NUM
aijbms-113	255	20	)	)	PUNCT
aijbms-113	255	21	.	.	PUNCT
aijbms-113	256	1	relationship	relationship	NOUN
aijbms-113	256	2	between	between	ADP
aijbms-113	256	3	financial	financial	ADJ
aijbms-113	256	4	leverage	leverage	NOUN
aijbms-113	256	5	and	and	CCONJ
aijbms-113	256	6	financial	financial	ADJ
aijbms-113	256	7	performance	performance	NOUN
aijbms-113	256	8	:	:	PUNCT
aijbms-113	256	9	evidence	evidence	NOUN
aijbms-113	256	10	from	from	ADP
aijbms-113	256	11	fuel	fuel	NOUN
aijbms-113	256	12	and	and	CCONJ
aijbms-113	256	13	energy	energy	NOUN
aijbms-113	256	14	sector	sector	NOUN
aijbms-113	256	15	of	of	ADP
aijbms-113	256	16	pakistan	pakistan	PROPN
aijbms-113	256	17	european	european	PROPN
aijbms-113	256	18	journal	journal	PROPN
aijbms-113	256	19	of	of	ADP
aijbms-113	256	20	business	business	NOUN
aijbms-113	256	21	and	and	CCONJ
aijbms-113	256	22	management	management	NOUN
aijbms-113	256	23	4(11	4(11	NUM
aijbms-113	256	24	)	)	PUNCT
aijbms-113	256	25	,	,	PUNCT
aijbms-113	256	26	7	7	NUM
aijbms-113	256	27	–	–	SYM
aijbms-113	256	28	17	17	NUM
aijbms-113	256	29	.	.	PUNCT
aijbms-113	256	30	akinmulegun	akinmulegun	PROPN
aijbms-113	256	31	,	,	PUNCT
aijbms-113	256	32	s.o	s.o	PROPN
aijbms-113	256	33	.	.	PROPN
aijbms-113	256	34	,	,	PUNCT
aijbms-113	256	35	(	(	PUNCT
aijbms-113	256	36	2012	2012	NUM
aijbms-113	256	37	)	)	PUNCT
aijbms-113	256	38	.	.	PUNCT
aijbms-113	257	1	the	the	DET
aijbms-113	257	2	effect	effect	NOUN
aijbms-113	257	3	of	of	ADP
aijbms-113	257	4	financial	financial	ADJ
aijbms-113	257	5	leverage	leverage	NOUN
aijbms-113	257	6	on	on	ADP
aijbms-113	257	7	corporate	corporate	ADJ
aijbms-113	257	8	performance	performance	NOUN
aijbms-113	257	9	of	of	ADP
aijbms-113	257	10	some	some	DET
aijbms-113	257	11	selected	select	VERB
aijbms-113	257	12	companies	company	NOUN
aijbms-113	257	13	in	in	ADP
aijbms-113	257	14	nigeria	nigeria	PROPN
aijbms-113	257	15	canadian	canadian	ADJ
aijbms-113	257	16	social	social	ADJ
aijbms-113	257	17	science	science	NOUN
aijbms-113	257	18	.	.	PUNCT
aijbms-113	258	1	8(1	8(1	NOUN
aijbms-113	258	2	)	)	PUNCT
aijbms-113	258	3	,	,	PUNCT
aijbms-113	258	4	85	85	NUM
aijbms-113	258	5	–	–	SYM
aijbms-113	258	6	91	91	NUM
aijbms-113	258	7	.	.	PUNCT
aijbms-113	259	1	al	al	PROPN
aijbms-113	259	2	-	-	PUNCT
aijbms-113	259	3	najjar	najjar	PROPN
aijbms-113	259	4	,	,	PUNCT
aijbms-113	259	5	b.	b.	PROPN
aijbms-113	259	6	,	,	PUNCT
aijbms-113	259	7	(	(	PUNCT
aijbms-113	259	8	2011	2011	NUM
aijbms-113	259	9	)	)	PUNCT
aijbms-113	259	10	.	.	PUNCT
aijbms-113	260	1	the	the	DET
aijbms-113	260	2	inter	inter	NOUN
aijbms-113	260	3	-	-	NOUN
aijbms-113	260	4	relationship	relationship	NOUN
aijbms-113	260	5	between	between	ADP
aijbms-113	260	6	capital	capital	NOUN
aijbms-113	260	7	structure	structure	NOUN
aijbms-113	260	8	and	and	CCONJ
aijbms-113	260	9	dividend	dividend	NOUN
aijbms-113	260	10	policy	policy	NOUN
aijbms-113	260	11	:	:	PUNCT
aijbms-113	260	12	empirical	empirical	ADJ
aijbms-113	260	13	evidence	evidence	NOUN
aijbms-113	260	14	from	from	ADP
aijbms-113	260	15	jordanian	jordanian	ADJ
aijbms-113	260	16	data	datum	NOUN
aijbms-113	260	17	.	.	PUNCT
aijbms-113	261	1	international	international	ADJ
aijbms-113	261	2	review	review	NOUN
aijbms-113	261	3	of	of	ADP
aijbms-113	261	4	applied	applied	ADJ
aijbms-113	261	5	economics	economic	NOUN
aijbms-113	261	6	,	,	PUNCT
aijbms-113	261	7	25	25	NUM
aijbms-113	261	8	(	(	PUNCT
aijbms-113	261	9	2	2	NUM
aijbms-113	261	10	)	)	PUNCT
aijbms-113	261	11	,	,	PUNCT
aijbms-113	261	12	209	209	NUM
aijbms-113	261	13	-	-	SYM
aijbms-113	261	14	224	224	NUM
aijbms-113	261	15	.	.	PUNCT
aijbms-113	262	1	alocock	alocock	NOUN
aijbms-113	262	2	,	,	PUNCT
aijbms-113	262	3	j	j	PROPN
aijbms-113	262	4	;	;	PUNCT
aijbms-113	262	5	baum	baum	PROPN
aijbms-113	262	6	,	,	PUNCT
aijbms-113	262	7	a	a	PRON
aijbms-113	262	8	;	;	PUNCT
aijbms-113	262	9	colley	colley	PROPN
aijbms-113	262	10	,	,	PUNCT
aijbms-113	262	11	n	n	PROPN
aijbms-113	262	12	&	&	CCONJ
aijbms-113	262	13	steiner	steiner	PROPN
aijbms-113	262	14	,	,	PUNCT
aijbms-113	262	15	e.	e.	PROPN
aijbms-113	262	16	,	,	PUNCT
aijbms-113	262	17	(	(	PUNCT
aijbms-113	262	18	2013	2013	NUM
aijbms-113	262	19	)	)	PUNCT
aijbms-113	262	20	.	.	PUNCT
aijbms-113	263	1	the	the	DET
aijbms-113	263	2	role	role	NOUN
aijbms-113	263	3	of	of	ADP
aijbms-113	263	4	financial	financial	ADJ
aijbms-113	263	5	leverage	leverage	NOUN
aijbms-113	263	6	in	in	ADP
aijbms-113	263	7	the	the	DET
aijbms-113	263	8	performance	performance	NOUN
aijbms-113	263	9	of	of	ADP
aijbms-113	263	10	private	private	ADJ
aijbms-113	263	11	equity	equity	NOUN
aijbms-113	263	12	real	real	ADJ
aijbms-113	263	13	estate	estate	NOUN
aijbms-113	263	14	funds	fund	NOUN
aijbms-113	263	15	.	.	PUNCT
aijbms-113	264	1	journal	journal	PROPN
aijbms-113	264	2	of	of	ADP
aijbms-113	264	3	portfolio	portfolio	NOUN
aijbms-113	264	4	management.9	management.9	PROPN
aijbms-113	264	5	(	(	PUNCT
aijbms-113	264	6	9	9	NUM
aijbms-113	264	7	)	)	PUNCT
aijbms-113	264	8	,	,	PUNCT
aijbms-113	264	9	99	99	NUM
aijbms-113	264	10	–	–	SYM
aijbms-113	264	11	110	110	NUM
aijbms-113	264	12	.	.	X
aijbms-113	264	13	amalendu	amalendu	PROPN
aijbms-113	264	14	b.	b.	PROPN
aijbms-113	264	15	,	,	PUNCT
aijbms-113	264	16	(	(	PUNCT
aijbms-113	264	17	2012	2012	NUM
aijbms-113	264	18	)	)	PUNCT
aijbms-113	264	19	.	.	PUNCT
aijbms-113	265	1	leverage	leverage	NOUN
aijbms-113	265	2	impact	impact	NOUN
aijbms-113	265	3	on	on	ADP
aijbms-113	265	4	firms	firm	NOUN
aijbms-113	265	5	investment	investment	NOUN
aijbms-113	265	6	decision	decision	NOUN
aijbms-113	265	7	:	:	PUNCT
aijbms-113	265	8	a	a	DET
aijbms-113	265	9	case	case	NOUN
aijbms-113	265	10	study	study	NOUN
aijbms-113	265	11	of	of	ADP
aijbms-113	265	12	indian	indian	ADJ
aijbms-113	265	13	pharmaceutical	pharmaceutical	ADJ
aijbms-113	265	14	companies	company	NOUN
aijbms-113	265	15	.	.	PUNCT
aijbms-113	266	1	international	international	ADJ
aijbms-113	266	2	journal	journal	PROPN
aijbms-113	266	3	of	of	ADP
aijbms-113	266	4	contemporary	contemporary	PROPN
aijbms-113	266	5	business	business	NOUN
aijbms-113	266	6	studies	study	NOUN
aijbms-113	266	7	,	,	PUNCT
aijbms-113	266	8	3(1	3(1	NUM
aijbms-113	266	9	)	)	PUNCT
aijbms-113	266	10	,	,	PUNCT
aijbms-113	266	11	35	35	NUM
aijbms-113	266	12	-	-	SYM
aijbms-113	266	13	45	45	NUM
aijbms-113	266	14	.	.	PUNCT
aijbms-113	267	1	damouri	damouri	PROPN
aijbms-113	267	2	,	,	PUNCT
aijbms-113	267	3	d	d	NOUN
aijbms-113	267	4	;	;	PUNCT
aijbms-113	267	5	khanagha	khanagha	NOUN
aijbms-113	267	6	,	,	PUNCT
aijbms-113	267	7	j.b	j.b	PROPN
aijbms-113	267	8	.	.	PROPN
aijbms-113	267	9	,	,	PUNCT
aijbms-113	267	10	&	&	CCONJ
aijbms-113	267	11	kaffash	kaffash	NOUN
aijbms-113	267	12	,	,	PUNCT
aijbms-113	267	13	m.	m.	NOUN
aijbms-113	267	14	,	,	PUNCT
aijbms-113	267	15	(	(	PUNCT
aijbms-113	267	16	2013	2013	NUM
aijbms-113	267	17	)	)	PUNCT
aijbms-113	267	18	.	.	PUNCT
aijbms-113	268	1	the	the	DET
aijbms-113	268	2	relationship	relationship	NOUN
aijbms-113	268	3	between	between	ADP
aijbms-113	268	4	changes	change	NOUN
aijbms-113	268	5	in	in	ADP
aijbms-113	268	6	the	the	DET
aijbms-113	268	7	financial	financial	ADJ
aijbms-113	268	8	leverage	leverage	NOUN
aijbms-113	268	9	and	and	CCONJ
aijbms-113	268	10	the	the	DET
aijbms-113	268	11	values	value	NOUN
aijbms-113	268	12	of	of	ADP
aijbms-113	268	13	the	the	DET
aijbms-113	268	14	tehran	tehran	NOUN
aijbms-113	268	15	listed	list	VERB
aijbms-113	268	16	firms	firm	NOUN
aijbms-113	268	17	.	.	PUNCT
aijbms-113	269	1	5(3	5(3	NUM
aijbms-113	269	2	)	)	PUNCT
aijbms-113	269	3	,	,	PUNCT
aijbms-113	269	4	56	56	NUM
aijbms-113	269	5	-	-	SYM
aijbms-113	269	6	89	89	NUM
aijbms-113	269	7	.	.	PUNCT
aijbms-113	270	1	gill	gill	PROPN
aijbms-113	270	2	,	,	PUNCT
aijbms-113	270	3	a.	a.	PROPN
aijbms-113	270	4	,	,	PUNCT
aijbms-113	270	5	mathur	mathur	PROPN
aijbms-113	270	6	,	,	PUNCT
aijbms-113	270	7	n.	n.	PROPN
aijbms-113	270	8	,	,	PUNCT
aijbms-113	270	9	(	(	PUNCT
aijbms-113	270	10	2011	2011	NUM
aijbms-113	270	11	)	)	PUNCT
aijbms-113	270	12	.	.	PUNCT
aijbms-113	271	1	factors	factor	NOUN
aijbms-113	271	2	that	that	PRON
aijbms-113	271	3	influence	influence	VERB
aijbms-113	271	4	financial	financial	ADJ
aijbms-113	271	5	leverage	leverage	NOUN
aijbms-113	271	6	of	of	ADP
aijbms-113	271	7	canadian	canadian	ADJ
aijbms-113	271	8	firms	firm	NOUN
aijbms-113	271	9	.	.	PUNCT
aijbms-113	272	1	journal	journal	NOUN
aijbms-113	272	2	of	of	ADP
aijbms-113	272	3	applied	apply	VERB
aijbms-113	272	4	finance	finance	NOUN
aijbms-113	272	5	&	&	CCONJ
aijbms-113	272	6	banking	banking	NOUN
aijbms-113	272	7	,	,	PUNCT
aijbms-113	272	8	1(2	1(2	NUM
aijbms-113	272	9	)	)	PUNCT
aijbms-113	272	10	,	,	PUNCT
aijbms-113	272	11	19	19	NUM
aijbms-113	272	12	-	-	SYM
aijbms-113	272	13	37	37	NUM
aijbms-113	272	14	.	.	PUNCT
aijbms-113	273	1	hashemi	hashemi	PROPN
aijbms-113	273	2	,	,	PUNCT
aijbms-113	273	3	s.	s.	PROPN
aijbms-113	273	4	,	,	PUNCT
aijbms-113	273	5	a.	a.	PROPN
aijbms-113	273	6	,	,	PUNCT
aijbms-113	273	7	&	&	CCONJ
aijbms-113	273	8	zadeh	zadeh	PROPN
aijbms-113	273	9	fatemeh	fatemeh	PROPN
aijbms-113	273	10	,	,	PUNCT
aijbms-113	273	11	z.	z.	PROPN
aijbms-113	273	12	,	,	PUNCT
aijbms-113	273	13	k.	k.	PROPN
aijbms-113	273	14	,	,	PUNCT
aijbms-113	273	15	.	.	PUNCT
aijbms-113	274	1	(	(	PUNCT
aijbms-113	274	2	2012	2012	NUM
aijbms-113	274	3	)	)	PUNCT
aijbms-113	274	4	.	.	PUNCT
aijbms-113	275	1	the	the	DET
aijbms-113	275	2	impact	impact	NOUN
aijbms-113	275	3	of	of	ADP
aijbms-113	275	4	financial	financial	ADJ
aijbms-113	275	5	leverage	leverage	NOUN
aijbms-113	275	6	operating	operate	VERB
aijbms-113	275	7	cash	cash	NOUN
aijbms-113	275	8	flow	flow	NOUN
aijbms-113	275	9	and	and	CCONJ
aijbms-113	275	10	size	size	NOUN
aijbms-113	275	11	of	of	ADP
aijbms-113	275	12	company	company	NOUN
aijbms-113	275	13	on	on	ADP
aijbms-113	275	14	the	the	DET
aijbms-113	275	15	dividend	dividend	NOUN
aijbms-113	275	16	policy	policy	NOUN
aijbms-113	275	17	-case	-case	NOUN
aijbms-113	275	18	study	study	NOUN
aijbms-113	275	19	of	of	ADP
aijbms-113	275	20	iraninterdisciplinary	iraninterdisciplinary	NOUN
aijbms-113	275	21	.	.	PUNCT
aijbms-113	276	1	journal	journal	PROPN
aijbms-113	276	2	of	of	ADP
aijbms-113	276	3	contemporary	contemporary	ADJ
aijbms-113	276	4	research	research	NOUN
aijbms-113	276	5	in	in	ADP
aijbms-113	276	6	business	business	NOUN
aijbms-113	276	7	.	.	PUNCT
aijbms-113	277	1	3(10	3(10	NUM
aijbms-113	277	2	)	)	PUNCT
aijbms-113	277	3	,	,	PUNCT
aijbms-113	277	4	45	45	NUM
aijbms-113	277	5	-	-	SYM
aijbms-113	277	6	80	80	NUM
aijbms-113	277	7	.	.	PUNCT
aijbms-113	278	1	jameel	jameel	PROPN
aijbms-113	278	2	h.	h.	PROPN
aijbms-113	278	3	,	,	PUNCT
aijbms-113	278	4	a.	a.	PROPN
aijbms-113	278	5	,	,	PUNCT
aijbms-113	278	6	(	(	PUNCT
aijbms-113	278	7	2013	2013	NUM
aijbms-113	278	8	)	)	PUNCT
aijbms-113	278	9	.	.	PUNCT
aijbms-113	279	1	the	the	DET
aijbms-113	279	2	effect	effect	NOUN
aijbms-113	279	3	of	of	ADP
aijbms-113	279	4	financial	financial	ADJ
aijbms-113	279	5	leverage	leverage	NOUN
aijbms-113	279	6	on	on	ADP
aijbms-113	279	7	the	the	DET
aijbms-113	279	8	performance	performance	NOUN
aijbms-113	279	9	of	of	ADP
aijbms-113	279	10	firms	firm	NOUN
aijbms-113	279	11	listed	list	VERB
aijbms-113	279	12	at	at	ADP
aijbms-113	279	13	palestinian	palestinian	ADJ
aijbms-113	279	14	security	security	NOUN
aijbms-113	279	15	exchange	exchange	NOUN
aijbms-113	279	16	an	an	DET
aijbms-113	279	17	empirical	empirical	ADJ
aijbms-113	279	18	study	study	NOUN
aijbms-113	279	19	alazhar	alazhar	PROPN
aijbms-113	279	20	university	university	PROPN
aijbms-113	279	21	.	.	PUNCT
aijbms-113	280	1	journal	journal	PROPN
aijbms-113	280	2	,	,	PUNCT
aijbms-113	280	3	15(1	15(1	NUM
aijbms-113	280	4	)	)	PUNCT
aijbms-113	280	5	,	,	PUNCT
aijbms-113	280	6	281	281	NUM
aijbms-113	280	7	-	-	SYM
aijbms-113	280	8	318	318	NUM
aijbms-113	280	9	.	.	PUNCT
aijbms-113	281	1	jensen	jensen	PROPN
aijbms-113	281	2	,	,	PUNCT
aijbms-113	281	3	m.	m.	NOUN
aijbms-113	281	4	(	(	PUNCT
aijbms-113	281	5	1986	1986	NUM
aijbms-113	281	6	)	)	PUNCT
aijbms-113	281	7	.	.	PUNCT
aijbms-113	282	1	agency	agency	NOUN
aijbms-113	282	2	costs	cost	NOUN
aijbms-113	282	3	of	of	ADP
aijbms-113	282	4	free	free	ADJ
aijbms-113	282	5	cash	cash	NOUN
aijbms-113	282	6	flow	flow	NOUN
aijbms-113	282	7	,	,	PUNCT
aijbms-113	282	8	corporate	corporate	ADJ
aijbms-113	282	9	finance	finance	NOUN
aijbms-113	282	10	and	and	CCONJ
aijbms-113	282	11	takeovers	takeover	NOUN
aijbms-113	282	12	.	.	PUNCT
aijbms-113	283	1	american	american	ADJ
aijbms-113	283	2	economic	economic	PROPN
aijbms-113	283	3	review	review	PROPN
aijbms-113	283	4	.	.	PUNCT
aijbms-113	284	1	7(6	7(6	NUM
aijbms-113	284	2	)	)	PUNCT
aijbms-113	284	3	,	,	PUNCT
aijbms-113	284	4	2	2	NUM
aijbms-113	284	5	,	,	PUNCT
aijbms-113	284	6	323	323	NUM
aijbms-113	284	7	-	-	SYM
aijbms-113	284	8	329	329	NUM
aijbms-113	284	9	.	.	PUNCT
aijbms-113	285	1	jensen	jensen	PROPN
aijbms-113	285	2	,	,	PUNCT
aijbms-113	285	3	m.c	m.c	PROPN
aijbms-113	285	4	.	.	PROPN
aijbms-113	285	5	,	,	PUNCT
aijbms-113	285	6	&	&	CCONJ
aijbms-113	285	7	meckling	meckling	PROPN
aijbms-113	285	8	,	,	PUNCT
aijbms-113	285	9	w.h	w.h	PROPN
aijbms-113	285	10	.	.	PROPN
aijbms-113	285	11	,	,	PUNCT
aijbms-113	285	12	(	(	PUNCT
aijbms-113	285	13	1976	1976	NUM
aijbms-113	285	14	)	)	PUNCT
aijbms-113	285	15	.	.	PUNCT
aijbms-113	286	1	theory	theory	NOUN
aijbms-113	286	2	of	of	ADP
aijbms-113	286	3	the	the	DET
aijbms-113	286	4	firm	firm	NOUN
aijbms-113	286	5	:	:	PUNCT
aijbms-113	286	6	managerial	managerial	ADJ
aijbms-113	286	7	behavior	behavior	NOUN
aijbms-113	286	8	,	,	PUNCT
aijbms-113	286	9	agency	agency	NOUN
aijbms-113	286	10	costs	cost	NOUN
aijbms-113	286	11	and	and	CCONJ
aijbms-113	286	12	ownership	ownership	NOUN
aijbms-113	286	13	structure	structure	NOUN
aijbms-113	286	14	.	.	PUNCT
aijbms-113	287	1	journal	journal	NOUN
aijbms-113	287	2	of	of	ADP
aijbms-113	287	3	financial	financial	ADJ
aijbms-113	287	4	economics,1(3	economics,1(3	PROPN
aijbms-113	287	5	)	)	PUNCT
aijbms-113	287	6	,	,	PUNCT
aijbms-113	287	7	305	305	NUM
aijbms-113	287	8	-	-	SYM
aijbms-113	287	9	360	360	NUM
aijbms-113	287	10	.	.	PUNCT
aijbms-113	288	1	karaduman	karaduman	NOUN
aijbms-113	288	2	,	,	PUNCT
aijbms-113	288	3	h.a	h.a	PROPN
aijbms-113	288	4	;	;	PUNCT
aijbms-113	288	5	akbas	akbas	ADJ
aijbms-113	288	6	,	,	PUNCT
aijbms-113	288	7	h.e	h.e	NOUN
aijbms-113	288	8	;	;	PUNCT
aijbms-113	288	9	caliskan	caliskan	PROPN
aijbms-113	288	10	,	,	PUNCT
aijbms-113	288	11	a.o	a.o	PROPN
aijbms-113	288	12	and	and	CCONJ
aijbms-113	288	13	durers	durer	NOUN
aijbms-113	288	14	(	(	PUNCT
aijbms-113	288	15	2011	2011	NUM
aijbms-113	288	16	)	)	PUNCT
aijbms-113	288	17	.	.	PUNCT
aijbms-113	289	1	the	the	DET
aijbms-113	289	2	relationship	relationship	NOUN
aijbms-113	289	3	between	between	ADP
aijbms-113	289	4	working	work	VERB
aijbms-113	289	5	capital	capital	NOUN
aijbms-113	289	6	management	management	NOUN
aijbms-113	289	7	and	and	CCONJ
aijbms-113	289	8	profitability	profitability	NOUN
aijbms-113	289	9	:	:	PUNCT
aijbms-113	289	10	evidence	evidence	NOUN
aijbms-113	289	11	from	from	ADP
aijbms-113	289	12	an	an	DET
aijbms-113	289	13	emerging	emerge	VERB
aijbms-113	289	14	market	market	NOUN
aijbms-113	289	15	.	.	PUNCT
aijbms-113	290	1	international	international	ADJ
aijbms-113	290	2	research	research	PROPN
aijbms-113	290	3	journal	journal	NOUN
aijbms-113	290	4	of	of	ADP
aijbms-113	290	5	finance	finance	NOUN
aijbms-113	290	6	and	and	CCONJ
aijbms-113	290	7	economics	economic	NOUN
aijbms-113	290	8	6(2	6(2	NUM
aijbms-113	290	9	)	)	PUNCT
aijbms-113	290	10	,	,	PUNCT
aijbms-113	290	11	61	61	NUM
aijbms-113	290	12	–	–	SYM
aijbms-113	290	13	67	67	NUM
aijbms-113	290	14	.	.	PUNCT
aijbms-113	291	1	khan	khan	PROPN
aijbms-113	291	2	,	,	PUNCT
aijbms-113	291	3	a.	a.	PROPN
aijbms-113	291	4	,	,	PUNCT
aijbms-113	291	5	kaleem	kaleem	PROPN
aijbms-113	291	6	,	,	PUNCT
aijbms-113	291	7	a.	a.	PROPN
aijbms-113	291	8	,	,	PUNCT
aijbms-113	291	9	mian	mian	PROPN
aijbms-113	291	10	sajid	sajid	PROPN
aijbms-113	291	11	n.	n.	PROPN
aijbms-113	291	12	,	,	PUNCT
aijbms-113	291	13	m.	m.	NOUN
aijbms-113	291	14	,	,	PUNCT
aijbms-113	291	15	s.	s.	PROPN
aijbms-113	291	16	,	,	PUNCT
aijbms-113	291	17	(	(	PUNCT
aijbms-113	291	18	2012	2012	NUM
aijbms-113	291	19	)	)	PUNCT
aijbms-113	291	20	.	.	PUNCT
aijbms-113	292	1	impact	impact	NOUN
aijbms-113	292	2	of	of	ADP
aijbms-113	292	3	financial	financial	ADJ
aijbms-113	292	4	leverage	leverage	NOUN
aijbms-113	292	5	on	on	ADP
aijbms-113	292	6	agency	agency	NOUN
aijbms-113	292	7	cost	cost	NOUN
aijbms-113	292	8	of	of	ADP
aijbms-113	292	9	free	free	ADJ
aijbms-113	292	10	cash	cash	NOUN
aijbms-113	292	11	flow	flow	NOUN
aijbms-113	292	12	:	:	PUNCT
aijbms-113	292	13	evidence	evidence	NOUN
aijbms-113	292	14	from	from	ADP
aijbms-113	292	15	the	the	DET
aijbms-113	292	16	manufacturing	manufacturing	NOUN
aijbms-113	292	17	sector	sector	NOUN
aijbms-113	292	18	of	of	ADP
aijbms-113	292	19	pakistan	pakistan	PROPN
aijbms-113	292	20	.	.	PUNCT
aijbms-113	293	1	journal	journal	PROPN
aijbms-113	293	2	of	of	ADP
aijbms-113	293	3	basic	basic	ADJ
aijbms-113	293	4	and	and	CCONJ
aijbms-113	293	5	applied	apply	VERB
aijbms-113	293	6	scientific	scientific	ADJ
aijbms-113	293	7	research	research	NOUN
aijbms-113	293	8	,	,	PUNCT
aijbms-113	293	9	2(7	2(7	NUM
aijbms-113	293	10	)	)	PUNCT
aijbms-113	293	11	,	,	PUNCT
aijbms-113	293	12	6694	6694	NUM
aijbms-113	293	13	-	-	SYM
aijbms-113	293	14	6700	6700	NUM
aijbms-113	293	15	.	.	PUNCT
aijbms-113	294	1	modigliani	modigliani	PROPN
aijbms-113	294	2	,	,	PUNCT
aijbms-113	294	3	f.	f.	PROPN
aijbms-113	294	4	and	and	CCONJ
aijbms-113	294	5	miller	miller	PROPN
aijbms-113	294	6	,	,	PUNCT
aijbms-113	294	7	m.h	m.h	PROPN
aijbms-113	294	8	.	.	PROPN
aijbms-113	294	9	,	,	PUNCT
aijbms-113	294	10	(	(	PUNCT
aijbms-113	294	11	1963	1963	NUM
aijbms-113	294	12	)	)	PUNCT
aijbms-113	294	13	.	.	PUNCT
aijbms-113	295	1	corporation	corporation	NOUN
aijbms-113	295	2	income	income	NOUN
aijbms-113	295	3	taxes	taxis	NOUN
aijbms-113	295	4	and	and	CCONJ
aijbms-113	295	5	the	the	DET
aijbms-113	295	6	cost	cost	NOUN
aijbms-113	295	7	of	of	ADP
aijbms-113	295	8	capital	capital	NOUN
aijbms-113	295	9	;	;	PUNCT
aijbms-113	295	10	a	a	DET
aijbms-113	295	11	correction	correction	NOUN
aijbms-113	295	12	.	.	PUNCT
aijbms-113	296	1	american	american	PROPN
aijbms-113	296	2	economic	economic	PROPN
aijbms-113	296	3	review	review	PROPN
aijbms-113	296	4	,	,	PUNCT
aijbms-113	296	5	5(3	5(3	NUM
aijbms-113	296	6	)	)	PUNCT
aijbms-113	296	7	,	,	PUNCT
aijbms-113	296	8	433	433	NUM
aijbms-113	296	9	-	-	SYM
aijbms-113	296	10	443	443	NUM
aijbms-113	296	11	.	.	PUNCT
aijbms-113	297	1	www.acseusa.org/journal/index.php/aijbms	www.acseusa.org/journal/index.php/aijbms	PROPN
aijbms-113	297	2	american	american	PROPN
aijbms-113	297	3	international	international	PROPN
aijbms-113	297	4	journal	journal	PROPN
aijbms-113	297	5	of	of	ADP
aijbms-113	297	6	business	business	NOUN
aijbms-113	297	7	and	and	CCONJ
aijbms-113	297	8	management	management	NOUN
aijbms-113	297	9	studies	study	NOUN
aijbms-113	297	10	vol	vol	NOUN
aijbms-113	297	11	.	.	PROPN
aijbms-113	298	1	1	1	NUM
aijbms-113	298	2	,	,	PUNCT
aijbms-113	298	3	no	no	INTJ
aijbms-113	298	4	.	.	NOUN
aijbms-113	298	5	1	1	NUM
aijbms-113	298	6	;	;	PUNCT
aijbms-113	298	7	2019	2019	NUM
aijbms-113	298	8	59	59	NUM
aijbms-113	298	9	modiglini	modiglini	NOUN
aijbms-113	298	10	,	,	PUNCT
aijbms-113	298	11	f.	f.	PROPN
aijbms-113	298	12	,	,	PUNCT
aijbms-113	298	13	&	&	CCONJ
aijbms-113	298	14	miller	miller	PROPN
aijbms-113	298	15	,	,	PUNCT
aijbms-113	298	16	m.	m.	NOUN
aijbms-113	298	17	,	,	PUNCT
aijbms-113	298	18	h.	h.	PROPN
aijbms-113	298	19	,	,	PUNCT
aijbms-113	298	20	(	(	PUNCT
aijbms-113	298	21	1958	1958	NUM
aijbms-113	298	22	)	)	PUNCT
aijbms-113	298	23	.	.	PUNCT
aijbms-113	299	1	the	the	DET
aijbms-113	299	2	cost	cost	NOUN
aijbms-113	299	3	of	of	ADP
aijbms-113	299	4	capital	capital	NOUN
aijbms-113	299	5	,	,	PUNCT
aijbms-113	299	6	corporate	corporate	ADJ
aijbms-113	299	7	finance	finance	NOUN
aijbms-113	299	8	and	and	CCONJ
aijbms-113	299	9	the	the	DET
aijbms-113	299	10	theory	theory	NOUN
aijbms-113	299	11	of	of	ADP
aijbms-113	299	12	investment	investment	NOUN
aijbms-113	299	13	.	.	PUNCT
aijbms-113	300	1	american	american	PROPN
aijbms-113	300	2	economic	economic	PROPN
aijbms-113	300	3	review	review	PROPN
aijbms-113	300	4	4(8	4(8	NUM
aijbms-113	300	5	)	)	PUNCT
aijbms-113	300	6	,	,	PUNCT
aijbms-113	300	7	261	261	NUM
aijbms-113	300	8	-	-	SYM
aijbms-113	300	9	297	297	NUM
aijbms-113	300	10	.	.	PUNCT
aijbms-113	301	1	myers	myers	PROPN
aijbms-113	301	2	,	,	PUNCT
aijbms-113	301	3	s.	s.	PROPN
aijbms-113	301	4	,	,	PUNCT
aijbms-113	301	5	(	(	PUNCT
aijbms-113	301	6	1977	1977	NUM
aijbms-113	301	7	)	)	PUNCT
aijbms-113	301	8	.	.	PUNCT
aijbms-113	302	1	determinants	determinant	NOUN
aijbms-113	302	2	of	of	ADP
aijbms-113	302	3	corporate	corporate	ADJ
aijbms-113	302	4	borrowing	borrowing	NOUN
aijbms-113	302	5	.	.	PUNCT
aijbms-113	303	1	journal	journal	NOUN
aijbms-113	303	2	of	of	ADP
aijbms-113	303	3	financial	financial	ADJ
aijbms-113	303	4	economies	economy	NOUN
aijbms-113	303	5	,	,	PUNCT
aijbms-113	303	6	9(4	9(4	NUM
aijbms-113	303	7	)	)	PUNCT
aijbms-113	303	8	147	147	NUM
aijbms-113	303	9	-	-	SYM
aijbms-113	303	10	76	76	NUM
aijbms-113	303	11	.	.	PUNCT
aijbms-113	304	1	myers	myers	PROPN
aijbms-113	304	2	,	,	PUNCT
aijbms-113	304	3	s.	s.	PROPN
aijbms-113	304	4	,	,	PUNCT
aijbms-113	304	5	(	(	PUNCT
aijbms-113	304	6	1984	1984	NUM
aijbms-113	304	7	)	)	PUNCT
aijbms-113	304	8	.	.	PUNCT
aijbms-113	305	1	the	the	DET
aijbms-113	305	2	capital	capital	NOUN
aijbms-113	305	3	structure	structure	NOUN
aijbms-113	305	4	puzzle	puzzle	NOUN
aijbms-113	305	5	.	.	PUNCT
aijbms-113	306	1	the	the	DET
aijbms-113	306	2	journal	journal	PROPN
aijbms-113	306	3	of	of	ADP
aijbms-113	306	4	finance	finance	NOUN
aijbms-113	306	5	,	,	PUNCT
aijbms-113	306	6	3(9	3(9	NUM
aijbms-113	306	7	)	)	PUNCT
aijbms-113	306	8	,	,	PUNCT
aijbms-113	306	9	575	575	NUM
aijbms-113	306	10	-	-	SYM
aijbms-113	306	11	592	592	NUM
aijbms-113	306	12	.	.	PUNCT
aijbms-113	307	1	myers	myers	PROPN
aijbms-113	307	2	,	,	PUNCT
aijbms-113	307	3	s.	s.	PROPN
aijbms-113	307	4	,	,	PUNCT
aijbms-113	307	5	c.	c.	PROPN
aijbms-113	307	6	,	,	PUNCT
aijbms-113	307	7	&	&	CCONJ
aijbms-113	307	8	majluf	majluf	PROPN
aijbms-113	307	9	,	,	PUNCT
aijbms-113	307	10	n.	n.	PROPN
aijbms-113	307	11	,	,	PUNCT
aijbms-113	307	12	s.	s.	PROPN
aijbms-113	307	13	,	,	PUNCT
aijbms-113	307	14	(	(	PUNCT
aijbms-113	307	15	1984	1984	NUM
aijbms-113	307	16	)	)	PUNCT
aijbms-113	307	17	.	.	PUNCT
aijbms-113	308	1	corporate	corporate	ADJ
aijbms-113	308	2	financing	financing	NOUN
aijbms-113	308	3	and	and	CCONJ
aijbms-113	308	4	investment	investment	NOUN
aijbms-113	308	5	decisions	decision	NOUN
aijbms-113	308	6	when	when	SCONJ
aijbms-113	308	7	firms	firm	NOUN
aijbms-113	308	8	have	have	VERB
aijbms-113	308	9	information	information	NOUN
aijbms-113	308	10	investors	investor	NOUN
aijbms-113	308	11	do	do	AUX
aijbms-113	308	12	not	not	PART
aijbms-113	308	13	have	have	VERB
aijbms-113	308	14	.	.	PUNCT
aijbms-113	309	1	journal	journal	NOUN
aijbms-113	309	2	of	of	ADP
aijbms-113	309	3	financial	financial	ADJ
aijbms-113	309	4	economics	economic	NOUN
aijbms-113	309	5	,	,	PUNCT
aijbms-113	309	6	13,187	13,187	NUM
aijbms-113	309	7	-	-	SYM
aijbms-113	309	8	222	222	NUM
aijbms-113	309	9	.	.	PUNCT
aijbms-113	310	1	nasrollah	nasrollah	PROPN
aijbms-113	310	2	,	,	PUNCT
aijbms-113	310	3	t	t	PROPN
aijbms-113	310	4	,	,	PUNCT
aijbms-113	310	5	mohammad	mohammad	PROPN
aijbms-113	310	6	,	,	PUNCT
aijbms-113	310	7	a.o	a.o	PROPN
aijbms-113	310	8	,	,	PUNCT
aijbms-113	310	9	&	&	CCONJ
aijbms-113	310	10	seyed	seyed	PROPN
aijbms-113	310	11	,	,	PUNCT
aijbms-113	310	12	h.s.e	h.s.e	NOUN
aijbms-113	310	13	.	.	PROPN
aijbms-113	310	14	,	,	PUNCT
aijbms-113	310	15	(	(	PUNCT
aijbms-113	310	16	2013	2013	NUM
aijbms-113	310	17	)	)	PUNCT
aijbms-113	310	18	.	.	PUNCT
aijbms-113	311	1	effect	effect	NOUN
aijbms-113	311	2	of	of	ADP
aijbms-113	311	3	financial	financial	ADJ
aijbms-113	311	4	leverage	leverage	NOUN
aijbms-113	311	5	and	and	CCONJ
aijbms-113	311	6	investment	investment	NOUN
aijbms-113	311	7	diversification	diversification	NOUN
aijbms-113	311	8	on	on	ADP
aijbms-113	311	9	income	income	NOUN
aijbms-113	311	10	–	–	PUNCT
aijbms-113	311	11	increasing	increase	VERB
aijbms-113	311	12	earnings	earning	NOUN
aijbms-113	311	13	management	management	NOUN
aijbms-113	311	14	middle	middle	ADJ
aijbms-113	311	15	-	-	PUNCT
aijbms-113	311	16	east	east	NOUN
aijbms-113	311	17	journal	journal	NOUN
aijbms-113	311	18	of	of	ADP
aijbms-113	311	19	scientific	scientific	ADJ
aijbms-113	311	20	research	research	NOUN
aijbms-113	311	21	16(6	16(6	NUM
aijbms-113	311	22	)	)	PUNCT
aijbms-113	311	23	,	,	PUNCT
aijbms-113	311	24	836	836	NUM
aijbms-113	311	25	–	–	SYM
aijbms-113	311	26	844	844	NUM
aijbms-113	311	27	.	.	PUNCT
aijbms-113	311	28	nazir	nazir	PROPN
aijbms-113	311	29	,	,	PUNCT
aijbms-113	311	30	m.s	m.s	PROPN
aijbms-113	311	31	&	&	CCONJ
aijbms-113	311	32	saita	saita	PROPN
aijbms-113	311	33	,	,	PUNCT
aijbms-113	311	34	h.k	h.k	PROPN
aijbms-113	311	35	.	.	PROPN
aijbms-113	311	36	,	,	PUNCT
aijbms-113	311	37	(	(	PUNCT
aijbms-113	311	38	2013	2013	NUM
aijbms-113	311	39	)	)	PUNCT
aijbms-113	311	40	.	.	PUNCT
aijbms-113	312	1	financial	financial	ADJ
aijbms-113	312	2	leverage	leverage	NOUN
aijbms-113	312	3	and	and	CCONJ
aijbms-113	312	4	agency	agency	NOUN
aijbms-113	312	5	cost	cost	NOUN
aijbms-113	312	6	:	:	PUNCT
aijbms-113	312	7	an	an	DET
aijbms-113	312	8	empirical	empirical	ADJ
aijbms-113	312	9	evidence	evidence	NOUN
aijbms-113	312	10	of	of	ADP
aijbms-113	312	11	pakistan	pakistan	PROPN
aijbms-113	312	12	international	international	PROPN
aijbms-113	312	13	journal	journal	PROPN
aijbms-113	312	14	of	of	ADP
aijbms-113	312	15	innovative	innovative	ADJ
aijbms-113	312	16	and	and	CCONJ
aijbms-113	312	17	applied	apply	VERB
aijbms-113	312	18	finance	finance	NOUN
aijbms-113	312	19	1(9	1(9	NUM
aijbms-113	312	20	)	)	PUNCT
aijbms-113	312	21	,	,	PUNCT
aijbms-113	312	22	1	1	NUM
aijbms-113	312	23	–	–	SYM
aijbms-113	312	24	16	16	NUM
aijbms-113	312	25	.	.	PUNCT
aijbms-113	313	1	qureshi	qureshi	PROPN
aijbms-113	313	2	,	,	PUNCT
aijbms-113	313	3	m.a	m.a	PROPN
aijbms-113	313	4	.	.	PROPN
aijbms-113	313	5	,	,	PUNCT
aijbms-113	313	6	imdadullah	imdadullah	PROPN
aijbms-113	313	7	,	,	PUNCT
aijbms-113	313	8	m.	m.	NOUN
aijbms-113	313	9	,	,	PUNCT
aijbms-113	313	10	ahsan	ahsan	PROPN
aijbms-113	313	11	,	,	PUNCT
aijbms-113	313	12	t.	t.	PROPN
aijbms-113	313	13	(	(	PUNCT
aijbms-113	313	14	2012	2012	NUM
aijbms-113	313	15	)	)	PUNCT
aijbms-113	313	16	.	.	PUNCT
aijbms-113	314	1	what	what	PRON
aijbms-113	314	2	determines	determine	VERB
aijbms-113	314	3	leverage	leverage	NOUN
aijbms-113	314	4	in	in	ADP
aijbms-113	314	5	pakistan	pakistan	PROPN
aijbms-113	314	6	?	?	PUNCT
aijbms-113	315	1	a	a	DET
aijbms-113	315	2	panel	panel	NOUN
aijbms-113	315	3	data	data	VERB
aijbms-113	315	4	analysis	analysis	NOUN
aijbms-113	315	5	.	.	PUNCT
aijbms-113	316	1	african	african	ADJ
aijbms-113	316	2	journal	journal	PROPN
aijbms-113	316	3	of	of	ADP
aijbms-113	316	4	business	business	NOUN
aijbms-113	316	5	management	management	NOUN
aijbms-113	316	6	,	,	PUNCT
aijbms-113	316	7	6(3	6(3	NUM
aijbms-113	316	8	)	)	PUNCT
aijbms-113	316	9	,	,	PUNCT
aijbms-113	316	10	978	978	NUM
aijbms-113	316	11	-	-	SYM
aijbms-113	316	12	985	985	NUM
aijbms-113	316	13	.	.	PUNCT
aijbms-113	317	1	qureshi1	qureshi1	PROPN
aijbms-113	317	2	,	,	PUNCT
aijbms-113	317	3	m.	m.	NOUN
aijbms-113	317	4	a.	a.	PROPN
aijbms-113	317	5	,	,	PUNCT
aijbms-113	317	6	imdadullah	imdadullah	PROPN
aijbms-113	317	7	,	,	PUNCT
aijbms-113	317	8	m.	m.	NOUN
aijbms-113	317	9	,	,	PUNCT
aijbms-113	317	10	ahsan	ahsan	PROPN
aijbms-113	317	11	,	,	PUNCT
aijbms-113	317	12	t.	t.	PROPN
aijbms-113	317	13	,	,	PUNCT
aijbms-113	317	14	(	(	PUNCT
aijbms-113	317	15	2012	2012	NUM
aijbms-113	317	16	)	)	PUNCT
aijbms-113	317	17	.	.	PUNCT
aijbms-113	318	1	what	what	PRON
aijbms-113	318	2	determines	determine	VERB
aijbms-113	318	3	leverage	leverage	NOUN
aijbms-113	318	4	in	in	ADP
aijbms-113	318	5	pakistan	pakistan	PROPN
aijbms-113	318	6	?	?	PUNCT
aijbms-113	319	1	a	a	DET
aijbms-113	319	2	panel	panel	NOUN
aijbms-113	319	3	data	data	VERB
aijbms-113	319	4	analysis	analysis	NOUN
aijbms-113	319	5	.	.	PUNCT
aijbms-113	320	1	african	african	ADJ
aijbms-113	320	2	journal	journal	PROPN
aijbms-113	320	3	of	of	ADP
aijbms-113	320	4	business	business	NOUN
aijbms-113	320	5	management	management	NOUN
aijbms-113	320	6	,	,	PUNCT
aijbms-113	320	7	6(3	6(3	NUM
aijbms-113	320	8	)	)	PUNCT
aijbms-113	320	9	,	,	PUNCT
aijbms-113	320	10	978	978	NUM
aijbms-113	320	11	-	-	SYM
aijbms-113	320	12	985	985	NUM
aijbms-113	320	13	.	.	PUNCT
aijbms-113	321	1	rajin	rajin	NOUN
aijbms-113	321	2	,	,	PUNCT
aijbms-113	321	3	s.	s.	PROPN
aijbms-113	321	4	,	,	PUNCT
aijbms-113	321	5	(	(	PUNCT
aijbms-113	321	6	2012	2012	NUM
aijbms-113	321	7	)	)	PUNCT
aijbms-113	321	8	.	.	PUNCT
aijbms-113	322	1	impact	impact	NOUN
aijbms-113	322	2	of	of	ADP
aijbms-113	322	3	financial	financial	ADJ
aijbms-113	322	4	leverage	leverage	NOUN
aijbms-113	322	5	on	on	ADP
aijbms-113	322	6	shareholders	shareholder	NOUN
aijbms-113	322	7	returns	return	NOUN
aijbms-113	322	8	and	and	CCONJ
aijbms-113	322	9	market	market	NOUN
aijbms-113	322	10	capitalization	capitalization	NOUN
aijbms-113	322	11	:	:	PUNCT
aijbms-113	322	12	empirical	empirical	ADJ
aijbms-113	322	13	evidence	evidence	NOUN
aijbms-113	322	14	of	of	ADP
aijbms-113	322	15	telecommunication	telecommunication	NOUN
aijbms-113	322	16	sector	sector	NOUN
aijbms-113	322	17	companies	company	NOUN
aijbms-113	322	18	india	india	PROPN
aijbms-113	322	19	.	.	PUNCT
aijbms-113	323	1	international	international	PROPN
aijbms-113	323	2	journal	journal	PROPN
aijbms-113	323	3	of	of	ADP
aijbms-113	323	4	research	research	NOUN
aijbms-113	323	5	in	in	ADP
aijbms-113	323	6	it	it	PRON
aijbms-113	323	7	,	,	PUNCT
aijbms-113	323	8	management	management	NOUN
aijbms-113	323	9	and	and	CCONJ
aijbms-113	323	10	engineering	engineering	NOUN
aijbms-113	323	11	2(12	2(12	NUM
aijbms-113	323	12	)	)	PUNCT
aijbms-113	323	13	.	.	PUNCT
aijbms-113	324	1	rehman	rehman	PROPN
aijbms-113	324	2	,	,	PUNCT
aijbms-113	324	3	s.s	s.s	PROPN
aijbms-113	324	4	.	.	PROPN
aijbms-113	324	5	,	,	PUNCT
aijbms-113	324	6	(	(	PUNCT
aijbms-113	324	7	2013	2013	NUM
aijbms-113	324	8	)	)	PUNCT
aijbms-113	324	9	.	.	PUNCT
aijbms-113	325	1	relationship	relationship	NOUN
aijbms-113	325	2	between	between	ADP
aijbms-113	325	3	financial	financial	ADJ
aijbms-113	325	4	leverage	leverage	NOUN
aijbms-113	325	5	and	and	CCONJ
aijbms-113	325	6	financial	financial	ADJ
aijbms-113	325	7	performance	performance	NOUN
aijbms-113	325	8	:	:	PUNCT
aijbms-113	325	9	empirical	empirical	ADJ
aijbms-113	325	10	evidence	evidence	NOUN
aijbms-113	325	11	of	of	ADP
aijbms-113	325	12	listed	list	VERB
aijbms-113	325	13	sugar	sugar	NOUN
aijbms-113	325	14	companies	company	NOUN
aijbms-113	325	15	of	of	ADP
aijbms-113	325	16	pakistan	pakistan	PROPN
aijbms-113	325	17	.	.	PUNCT
aijbms-113	326	1	global	global	ADJ
aijbms-113	326	2	journal	journal	PROPN
aijbms-113	326	3	of	of	ADP
aijbms-113	326	4	management	management	NOUN
aijbms-113	326	5	and	and	CCONJ
aijbms-113	326	6	business	business	NOUN
aijbms-113	326	7	research	research	NOUN
aijbms-113	326	8	finance	finance	NOUN
aijbms-113	326	9	13(8	13(8	NUM
aijbms-113	326	10	)	)	PUNCT
aijbms-113	326	11	,	,	PUNCT
aijbms-113	326	12	33	33	NUM
aijbms-113	326	13	–	–	SYM
aijbms-113	326	14	40	40	NUM
aijbms-113	326	15	.	.	PUNCT
aijbms-113	327	1	sheikh	sheikh	PROPN
aijbms-113	327	2	,	,	PUNCT
aijbms-113	327	3	n.	n.	PROPN
aijbms-113	327	4	a.	a.	PROPN
aijbms-113	327	5	,	,	PUNCT
aijbms-113	327	6	&	&	CCONJ
aijbms-113	327	7	wang	wang	PROPN
aijbms-113	327	8	,	,	PUNCT
aijbms-113	327	9	z.	z.	PROPN
aijbms-113	327	10	,	,	PUNCT
aijbms-113	327	11	(	(	PUNCT
aijbms-113	327	12	2011	2011	NUM
aijbms-113	327	13	)	)	PUNCT
aijbms-113	327	14	.	.	PUNCT
aijbms-113	328	1	determinants	determinant	NOUN
aijbms-113	328	2	of	of	ADP
aijbms-113	328	3	capital	capital	NOUN
aijbms-113	328	4	structure	structure	NOUN
aijbms-113	328	5	:	:	PUNCT
aijbms-113	328	6	an	an	DET
aijbms-113	328	7	empirical	empirical	ADJ
aijbms-113	328	8	study	study	NOUN
aijbms-113	328	9	of	of	ADP
aijbms-113	328	10	firms	firm	NOUN
aijbms-113	328	11	in	in	ADP
aijbms-113	328	12	manufacturing	manufacture	VERB
aijbms-113	328	13	industry	industry	NOUN
aijbms-113	328	14	of	of	ADP
aijbms-113	328	15	pakistan	pakistan	PROPN
aijbms-113	328	16	.	.	PUNCT
aijbms-113	329	1	managerial	managerial	ADJ
aijbms-113	329	2	finance	finance	NOUN
aijbms-113	329	3	,	,	PUNCT
aijbms-113	329	4	37(2	37(2	PROPN
aijbms-113	329	5	)	)	PUNCT
aijbms-113	329	6	,	,	PUNCT
aijbms-113	329	7	117	117	NUM
aijbms-113	329	8	-	-	SYM
aijbms-113	329	9	133	133	NUM
aijbms-113	329	10	.	.	PUNCT
aijbms-113	330	1	tally	tally	PROPN
aijbms-113	330	2	,	,	PUNCT
aijbms-113	330	3	h.	h.	PROPN
aijbms-113	330	4	,	,	PUNCT
aijbms-113	330	5	(	(	PUNCT
aijbms-113	330	6	2014	2014	NUM
aijbms-113	330	7	)	)	PUNCT
aijbms-113	330	8	.	.	PUNCT
aijbms-113	331	1	an	an	DET
aijbms-113	331	2	investigation	investigation	NOUN
aijbms-113	331	3	of	of	ADP
aijbms-113	331	4	affect	affect	NOUN
aijbms-113	331	5	of	of	ADP
aijbms-113	331	6	financial	financial	ADJ
aijbms-113	331	7	leverage	leverage	NOUN
aijbms-113	331	8	on	on	ADP
aijbms-113	331	9	firm	firm	ADJ
aijbms-113	331	10	financial	financial	ADJ
aijbms-113	331	11	performance	performance	NOUN
aijbms-113	331	12	in	in	ADP
aijbms-113	331	13	saudi	saudi	PROPN
aijbms-113	331	14	arabia	arabia	PROPN
aijbms-113	331	15	’s	’s	PART
aijbms-113	331	16	listed	list	VERB
aijbms-113	331	17	companies	company	NOUN
aijbms-113	331	18	,	,	PUNCT
aijbms-113	331	19	victoria	victoria	PROPN
aijbms-113	331	20	graduate	graduate	PROPN
aijbms-113	331	21	school	school	NOUN
aijbms-113	331	22	of	of	ADP
aijbms-113	331	23	business	business	NOUN
aijbms-113	331	24	,	,	PUNCT
aijbms-113	331	25	melbourne	melbourne	PROPN
aijbms-113	331	26	,	,	PUNCT
aijbms-113	331	27	australia	australia	PROPN
aijbms-113	331	28	.	.	PUNCT
aijbms-113	332	1	30	30	NUM
aijbms-113	332	2	ujah	ujah	NOUN
aijbms-113	332	3	,	,	PUNCT
aijbms-113	332	4	u	u	PROPN
aijbms-113	332	5	&	&	CCONJ
aijbms-113	332	6	brusa	brusa	PROPN
aijbms-113	332	7	,	,	PUNCT
aijbms-113	332	8	o.	o.	NOUN
aijbms-113	332	9	(	(	PUNCT
aijbms-113	332	10	2012	2012	NUM
aijbms-113	332	11	)	)	PUNCT
aijbms-113	332	12	.	.	PUNCT
aijbms-113	333	1	the	the	DET
aijbms-113	333	2	effect	effect	NOUN
aijbms-113	333	3	of	of	ADP
aijbms-113	333	4	financial	financial	ADJ
aijbms-113	333	5	leverage	leverage	NOUN
aijbms-113	333	6	and	and	CCONJ
aijbms-113	333	7	cash	cash	NOUN
aijbms-113	333	8	flow	flow	NOUN
aijbms-113	333	9	volatility	volatility	NOUN
aijbms-113	333	10	on	on	ADP
aijbms-113	333	11	earnings	earning	NOUN
aijbms-113	333	12	management	management	NOUN
aijbms-113	333	13	texas	texas	PROPN
aijbms-113	333	14	a	a	PROPN
aijbms-113	333	15	&	&	CCONJ
aijbms-113	333	16	m	m	PROPN
aijbms-113	333	17	international	international	ADJ
aijbms-113	333	18	university	university	NOUN
aijbms-113	333	19	.	.	PUNCT
aijbms-113	334	1	zhao	zhao	PROPN
aijbms-113	334	2	,	,	PUNCT
aijbms-113	334	3	b.	b.	PROPN
aijbms-113	334	4	,	,	PUNCT
aijbms-113	334	5	wijewardana	wijewardana	PROPN
aijbms-113	334	6	,	,	PUNCT
aijbms-113	334	7	w.	w.	PROPN
aijbms-113	334	8	p.	p.	PROPN
aijbms-113	334	9	,	,	PUNCT
aijbms-113	334	10	(	(	PUNCT
aijbms-113	334	11	2012	2012	NUM
aijbms-113	334	12	)	)	PUNCT
aijbms-113	334	13	.	.	PUNCT
aijbms-113	335	1	financial	financial	ADJ
aijbms-113	335	2	leverage	leverage	NOUN
aijbms-113	335	3	,	,	PUNCT
aijbms-113	335	4	firm	firm	ADJ
aijbms-113	335	5	growth	growth	NOUN
aijbms-113	335	6	and	and	CCONJ
aijbms-113	335	7	financial	financial	ADJ
aijbms-113	335	8	strength	strength	NOUN
aijbms-113	335	9	in	in	ADP
aijbms-113	335	10	the	the	DET
aijbms-113	335	11	listed	list	VERB
aijbms-113	335	12	companies	company	NOUN
aijbms-113	335	13	in	in	ADP
aijbms-113	335	14	sri	sri	PROPN
aijbms-113	335	15	lanka	lanka	PROPN
aijbms-113	335	16	'	'	PART
aijbms-113	335	17	,	,	PUNCT
aijbms-113	335	18	procedia	procedia	PROPN
aijbms-113	335	19	social	social	ADJ
aijbms-113	335	20	and	and	CCONJ
aijbms-113	335	21	behavioral	behavioral	ADJ
aijbms-113	335	22	sciences	science	NOUN
aijbms-113	335	23	40(4	40(4	NUM
aijbms-113	335	24	)	)	PUNCT
aijbms-113	335	25	,	,	PUNCT
aijbms-113	335	26	709	709	NUM
aijbms-113	335	27	-	-	SYM
aijbms-113	335	28	715	715	NUM
aijbms-113	335	29	.	.	PUNCT
aijbms-113	336	1	copyrights	copyright	NOUN
aijbms-113	336	2	copyright	copyright	NOUN
aijbms-113	336	3	for	for	ADP
aijbms-113	336	4	this	this	DET
aijbms-113	336	5	article	article	NOUN
aijbms-113	336	6	is	be	AUX
aijbms-113	336	7	retained	retain	VERB
aijbms-113	336	8	by	by	ADP
aijbms-113	336	9	the	the	DET
aijbms-113	336	10	author(s	author(s	PROPN
aijbms-113	336	11	)	)	PUNCT
aijbms-113	336	12	,	,	PUNCT
aijbms-113	336	13	with	with	ADP
aijbms-113	336	14	first	first	ADJ
aijbms-113	336	15	publication	publication	NOUN
aijbms-113	336	16	rights	right	NOUN
aijbms-113	336	17	granted	grant	VERB
aijbms-113	336	18	to	to	ADP
aijbms-113	336	19	the	the	DET
aijbms-113	336	20	journal	journal	NOUN
aijbms-113	336	21	.	.	PUNCT
aijbms-113	337	1	this	this	PRON
aijbms-113	337	2	is	be	AUX
aijbms-113	337	3	an	an	DET
aijbms-113	337	4	open	open	ADJ
aijbms-113	337	5	-	-	PUNCT
aijbms-113	337	6	access	access	NOUN
aijbms-113	337	7	article	article	NOUN
aijbms-113	337	8	distributed	distribute	VERB
aijbms-113	337	9	under	under	ADP
aijbms-113	337	10	the	the	DET
aijbms-113	337	11	terms	term	NOUN
aijbms-113	337	12	and	and	CCONJ
aijbms-113	337	13	conditions	condition	NOUN
aijbms-113	337	14	of	of	ADP
aijbms-113	337	15	the	the	DET
aijbms-113	337	16	creative	creative	ADJ
aijbms-113	337	17	commons	common	NOUN
aijbms-113	337	18	attribution	attribution	NOUN
aijbms-113	337	19	license	license	NOUN
aijbms-113	337	20	(	(	PUNCT
aijbms-113	337	21	http://creativecommons.org/licenses/by/4.0/	http://creativecommons.org/licenses/by/4.0/	PROPN
aijbms-113	337	22	)	)	PUNCT
aijbms-113	337	23	.	.	PUNCT