id	sid	tid	token	lemma	pos
ajbmeb-2854	1	1	american	american	PROPN
ajbmeb-2854	1	2	journal	journal	PROPN
ajbmeb-2854	1	3	of	of	ADP
ajbmeb-2854	1	4	business	business	NOUN
ajbmeb-2854	1	5	management	management	NOUN
ajbmeb-2854	1	6	,	,	PUNCT
ajbmeb-2854	1	7	economics	economic	NOUN
ajbmeb-2854	1	8	and	and	CCONJ
ajbmeb-2854	1	9	banking	banking	NOUN
ajbmeb-2854	1	10	issn	issn	PROPN
ajbmeb-2854	1	11	(	(	PUNCT
ajbmeb-2854	1	12	e	e	NOUN
ajbmeb-2854	1	13	):	):	PUNCT
ajbmeb-2854	1	14	2832	2832	NUM
ajbmeb-2854	1	15	-	-	SYM
ajbmeb-2854	1	16	8078	8078	NUM
ajbmeb-2854	1	17	volume	volume	NOUN
ajbmeb-2854	1	18	35	35	NUM
ajbmeb-2854	1	19	,	,	PUNCT
ajbmeb-2854	1	20	april	april	PROPN
ajbmeb-2854	1	21	2025	2025	NUM
ajbmeb-2854	1	22	p	p	NOUN
ajbmeb-2854	1	23	a	a	DET
ajbmeb-2854	1	24	g	g	NOUN
ajbmeb-2854	1	25	e	e	NOUN
ajbmeb-2854	1	26	|	|	ADV
ajbmeb-2854	1	27	44	44	NUM
ajbmeb-2854	1	28	www.americanjournal.org	www.americanjournal.org	NOUN
ajbmeb-2854	1	29	dividends	dividend	NOUN
ajbmeb-2854	1	30	payout	payout	NOUN
ajbmeb-2854	1	31	,	,	PUNCT
ajbmeb-2854	1	32	market	market	NOUN
ajbmeb-2854	1	33	capitalization	capitalization	NOUN
ajbmeb-2854	1	34	and	and	CCONJ
ajbmeb-2854	1	35	market	market	NOUN
ajbmeb-2854	1	36	value	value	NOUN
ajbmeb-2854	1	37	of	of	ADP
ajbmeb-2854	1	38	manufacturing	manufacturing	NOUN
ajbmeb-2854	1	39	firms	firm	NOUN
ajbmeb-2854	1	40	in	in	ADP
ajbmeb-2854	1	41	nigeria	nigeria	PROPN
ajbmeb-2854	1	42	henry	henry	PROPN
ajbmeb-2854	1	43	wobo	wobo	PROPN
ajbmeb-2854	1	44	,	,	PUNCT
ajbmeb-2854	1	45	asian	asian	ADJ
ajbmeb-2854	1	46	asian	asian	PROPN
ajbmeb-2854	1	47	umobong	umobong	PROPN
ajbmeb-2854	1	48	department	department	PROPN
ajbmeb-2854	1	49	of	of	ADP
ajbmeb-2854	1	50	accounting	accounting	PROPN
ajbmeb-2854	1	51	university	university	PROPN
ajbmeb-2854	1	52	of	of	ADP
ajbmeb-2854	1	53	port	port	PROPN
ajbmeb-2854	1	54	harcourt	harcourt	PROPN
ajbmeb-2854	1	55	,	,	PUNCT
ajbmeb-2854	1	56	choba	choba	PROPN
ajbmeb-2854	1	57	port	port	PROPN
ajbmeb-2854	1	58	harcourt	harcourt	PROPN
ajbmeb-2854	1	59	,	,	PUNCT
ajbmeb-2854	1	60	nigeria	nigeria	PROPN
ajbmeb-2854	1	61	corresponding	corresponding	ADJ
ajbmeb-2854	1	62	author	author	NOUN
ajbmeb-2854	1	63	email	email	NOUN
ajbmeb-2854	1	64	:	:	PUNCT
ajbmeb-2854	1	65	aumobong2007@yahoo.com	aumobong2007@yahoo.com	X
ajbmeb-2854	2	1	a	a	DET
ajbmeb-2854	2	2	b	b	PROPN
ajbmeb-2854	2	3	s	s	ADP
ajbmeb-2854	2	4	t	t	PROPN
ajbmeb-2854	2	5	r	r	NOUN
ajbmeb-2854	2	6	a	a	DET
ajbmeb-2854	2	7	c	c	NOUN
ajbmeb-2854	2	8	t	t	NOUN
ajbmeb-2854	2	9	k	k	X
ajbmeb-2854	2	10	e	e	PROPN
ajbmeb-2854	2	11	y	y	PROPN
ajbmeb-2854	2	12	w	w	NOUN
ajbmeb-2854	2	13	o	o	NOUN
ajbmeb-2854	2	14	r	r	NOUN
ajbmeb-2854	2	15	d	d	X
ajbmeb-2854	2	16	s	s	VERB
ajbmeb-2854	2	17	the	the	DET
ajbmeb-2854	2	18	aim	aim	NOUN
ajbmeb-2854	2	19	of	of	ADP
ajbmeb-2854	2	20	the	the	DET
ajbmeb-2854	2	21	study	study	NOUN
ajbmeb-2854	2	22	was	be	AUX
ajbmeb-2854	2	23	to	to	PART
ajbmeb-2854	2	24	determine	determine	VERB
ajbmeb-2854	2	25	the	the	DET
ajbmeb-2854	2	26	nature	nature	NOUN
ajbmeb-2854	2	27	of	of	ADP
ajbmeb-2854	2	28	relationship	relationship	NOUN
ajbmeb-2854	2	29	between	between	ADP
ajbmeb-2854	2	30	dividend	dividend	NOUN
ajbmeb-2854	2	31	payout	payout	NOUN
ajbmeb-2854	2	32	,	,	PUNCT
ajbmeb-2854	2	33	market	market	NOUN
ajbmeb-2854	2	34	capitalization	capitalization	NOUN
ajbmeb-2854	2	35	,	,	PUNCT
ajbmeb-2854	2	36	inflation	inflation	NOUN
ajbmeb-2854	2	37	and	and	CCONJ
ajbmeb-2854	2	38	market	market	NOUN
ajbmeb-2854	2	39	value	value	NOUN
ajbmeb-2854	2	40	of	of	ADP
ajbmeb-2854	2	41	manufacturing	manufacturing	NOUN
ajbmeb-2854	2	42	firms	firm	NOUN
ajbmeb-2854	2	43	in	in	ADP
ajbmeb-2854	2	44	nigeria	nigeria	PROPN
ajbmeb-2854	2	45	using	use	VERB
ajbmeb-2854	2	46	secondary	secondary	ADJ
ajbmeb-2854	2	47	data	datum	NOUN
ajbmeb-2854	2	48	obtained	obtain	VERB
ajbmeb-2854	2	49	from	from	ADP
ajbmeb-2854	2	50	firms	firm	NOUN
ajbmeb-2854	2	51	listed	list	VERB
ajbmeb-2854	2	52	on	on	ADP
ajbmeb-2854	2	53	nigeria	nigeria	PROPN
ajbmeb-2854	2	54	stock	stock	PROPN
ajbmeb-2854	2	55	exchange	exchange	PROPN
ajbmeb-2854	2	56	between	between	ADP
ajbmeb-2854	2	57	2013	2013	NUM
ajbmeb-2854	2	58	and	and	CCONJ
ajbmeb-2854	2	59	2021	2021	NUM
ajbmeb-2854	2	60	.	.	PUNCT
ajbmeb-2854	3	1	multiple	multiple	ADJ
ajbmeb-2854	3	2	regression	regression	NOUN
ajbmeb-2854	3	3	analysis	analysis	NOUN
ajbmeb-2854	3	4	to	to	PART
ajbmeb-2854	3	5	ascertain	ascertain	VERB
ajbmeb-2854	3	6	nature	nature	NOUN
ajbmeb-2854	3	7	of	of	ADP
ajbmeb-2854	3	8	relationship	relationship	NOUN
ajbmeb-2854	3	9	was	be	AUX
ajbmeb-2854	3	10	used	use	VERB
ajbmeb-2854	3	11	and	and	CCONJ
ajbmeb-2854	3	12	hausmann	hausmann	PROPN
ajbmeb-2854	3	13	test	test	NOUN
ajbmeb-2854	3	14	for	for	ADP
ajbmeb-2854	3	15	selection	selection	NOUN
ajbmeb-2854	3	16	of	of	ADP
ajbmeb-2854	3	17	model	model	NOUN
ajbmeb-2854	3	18	.	.	PUNCT
ajbmeb-2854	4	1	also	also	ADV
ajbmeb-2854	4	2	,	,	PUNCT
ajbmeb-2854	4	3	various	various	ADJ
ajbmeb-2854	4	4	diagnostic	diagnostic	ADJ
ajbmeb-2854	4	5	tests	test	NOUN
ajbmeb-2854	4	6	were	be	AUX
ajbmeb-2854	4	7	conducted	conduct	VERB
ajbmeb-2854	4	8	on	on	ADP
ajbmeb-2854	4	9	data	datum	NOUN
ajbmeb-2854	4	10	set	set	VERB
ajbmeb-2854	4	11	.	.	PUNCT
ajbmeb-2854	5	1	the	the	DET
ajbmeb-2854	5	2	study	study	NOUN
ajbmeb-2854	5	3	found	find	VERB
ajbmeb-2854	5	4	a	a	DET
ajbmeb-2854	5	5	positive	positive	ADJ
ajbmeb-2854	5	6	significant	significant	ADJ
ajbmeb-2854	5	7	relationship	relationship	NOUN
ajbmeb-2854	5	8	of	of	ADP
ajbmeb-2854	5	9	dividend	dividend	NOUN
ajbmeb-2854	5	10	and	and	CCONJ
ajbmeb-2854	5	11	inflation	inflation	NOUN
ajbmeb-2854	5	12	on	on	ADP
ajbmeb-2854	5	13	market	market	NOUN
ajbmeb-2854	5	14	value	value	NOUN
ajbmeb-2854	5	15	measured	measure	VERB
ajbmeb-2854	5	16	by	by	ADP
ajbmeb-2854	5	17	tobin	tobin	PROPN
ajbmeb-2854	5	18	q	q	PROPN
ajbmeb-2854	5	19	and	and	CCONJ
ajbmeb-2854	5	20	price	price	NOUN
ajbmeb-2854	5	21	earnings	earning	NOUN
ajbmeb-2854	5	22	ratio	ratio	NOUN
ajbmeb-2854	5	23	.	.	PUNCT
ajbmeb-2854	6	1	based	base	VERB
ajbmeb-2854	6	2	on	on	ADP
ajbmeb-2854	6	3	findings	finding	NOUN
ajbmeb-2854	6	4	we	we	PRON
ajbmeb-2854	6	5	conclude	conclude	VERB
ajbmeb-2854	6	6	dividend	dividend	NOUN
ajbmeb-2854	6	7	and	and	CCONJ
ajbmeb-2854	6	8	inflation	inflation	NOUN
ajbmeb-2854	6	9	impact	impact	NOUN
ajbmeb-2854	6	10	firm	firm	NOUN
ajbmeb-2854	6	11	value	value	NOUN
ajbmeb-2854	6	12	positively	positively	ADV
ajbmeb-2854	6	13	.	.	PUNCT
ajbmeb-2854	7	1	we	we	PRON
ajbmeb-2854	7	2	noted	note	VERB
ajbmeb-2854	7	3	market	market	NOUN
ajbmeb-2854	7	4	capitalization	capitalization	NOUN
ajbmeb-2854	7	5	positively	positively	ADV
ajbmeb-2854	7	6	and	and	CCONJ
ajbmeb-2854	7	7	insignificantly	insignificantly	ADV
ajbmeb-2854	7	8	affect	affect	VERB
ajbmeb-2854	7	9	tobin	tobin	PROPN
ajbmeb-2854	7	10	q	q	PROPN
ajbmeb-2854	7	11	and	and	CCONJ
ajbmeb-2854	7	12	positively	positively	ADV
ajbmeb-2854	7	13	and	and	CCONJ
ajbmeb-2854	7	14	significantly	significantly	ADV
ajbmeb-2854	7	15	affect	affect	VERB
ajbmeb-2854	7	16	price	price	NOUN
ajbmeb-2854	7	17	earnings	earning	NOUN
ajbmeb-2854	7	18	ratio	ratio	NOUN
ajbmeb-2854	7	19	.	.	PUNCT
ajbmeb-2854	8	1	we	we	PRON
ajbmeb-2854	8	2	conclude	conclude	VERB
ajbmeb-2854	8	3	market	market	NOUN
ajbmeb-2854	8	4	capitalization	capitalization	NOUN
ajbmeb-2854	8	5	has	have	VERB
ajbmeb-2854	8	6	a	a	DET
ajbmeb-2854	8	7	positive	positive	ADJ
ajbmeb-2854	8	8	effect	effect	NOUN
ajbmeb-2854	8	9	on	on	ADP
ajbmeb-2854	8	10	market	market	NOUN
ajbmeb-2854	8	11	value	value	NOUN
ajbmeb-2854	8	12	.	.	PUNCT
ajbmeb-2854	9	1	we	we	PRON
ajbmeb-2854	9	2	noted	note	VERB
ajbmeb-2854	9	3	negative	negative	ADJ
ajbmeb-2854	9	4	significant	significant	ADJ
ajbmeb-2854	9	5	relationship	relationship	NOUN
ajbmeb-2854	9	6	of	of	ADP
ajbmeb-2854	9	7	dividend	dividend	NOUN
ajbmeb-2854	9	8	and	and	CCONJ
ajbmeb-2854	9	9	inflation	inflation	NOUN
ajbmeb-2854	9	10	on	on	ADP
ajbmeb-2854	9	11	enterprise	enterprise	NOUN
ajbmeb-2854	9	12	value	value	NOUN
ajbmeb-2854	9	13	and	and	CCONJ
ajbmeb-2854	9	14	a	a	DET
ajbmeb-2854	9	15	negative	negative	ADJ
ajbmeb-2854	9	16	insignificant	insignificant	ADJ
ajbmeb-2854	9	17	relationship	relationship	NOUN
ajbmeb-2854	9	18	of	of	ADP
ajbmeb-2854	9	19	market	market	NOUN
ajbmeb-2854	9	20	capitalization	capitalization	NOUN
ajbmeb-2854	9	21	on	on	ADP
ajbmeb-2854	9	22	enterprise	enterprise	NOUN
ajbmeb-2854	9	23	value	value	NOUN
ajbmeb-2854	9	24	.	.	PUNCT
ajbmeb-2854	10	1	we	we	PRON
ajbmeb-2854	10	2	conclude	conclude	VERB
ajbmeb-2854	10	3	a	a	DET
ajbmeb-2854	10	4	trade	trade	NOUN
ajbmeb-2854	10	5	-	-	PUNCT
ajbmeb-2854	10	6	off	off	NOUN
ajbmeb-2854	10	7	exist	exist	VERB
ajbmeb-2854	10	8	between	between	ADP
ajbmeb-2854	10	9	the	the	DET
ajbmeb-2854	10	10	variables	variable	NOUN
ajbmeb-2854	10	11	.	.	PUNCT
ajbmeb-2854	11	1	increases	increase	NOUN
ajbmeb-2854	11	2	in	in	ADP
ajbmeb-2854	11	3	variables	variable	NOUN
ajbmeb-2854	11	4	increase	increase	VERB
ajbmeb-2854	11	5	market	market	NOUN
ajbmeb-2854	11	6	value	value	NOUN
ajbmeb-2854	11	7	while	while	SCONJ
ajbmeb-2854	11	8	at	at	ADP
ajbmeb-2854	11	9	the	the	DET
ajbmeb-2854	11	10	same	same	ADJ
ajbmeb-2854	11	11	time	time	NOUN
ajbmeb-2854	11	12	dampening	dampen	VERB
ajbmeb-2854	11	13	enterprise	enterprise	NOUN
ajbmeb-2854	11	14	value	value	NOUN
ajbmeb-2854	11	15	.	.	PUNCT
ajbmeb-2854	12	1	based	base	VERB
ajbmeb-2854	12	2	on	on	ADP
ajbmeb-2854	12	3	findings	finding	NOUN
ajbmeb-2854	12	4	,	,	PUNCT
ajbmeb-2854	12	5	we	we	PRON
ajbmeb-2854	12	6	conclude	conclude	VERB
ajbmeb-2854	12	7	that	that	SCONJ
ajbmeb-2854	12	8	our	our	PRON
ajbmeb-2854	12	9	study	study	NOUN
ajbmeb-2854	12	10	negates	negate	VERB
ajbmeb-2854	12	11	dividend	dividend	NOUN
ajbmeb-2854	12	12	irrelevance	irrelevance	NOUN
ajbmeb-2854	12	13	theory	theory	NOUN
ajbmeb-2854	12	14	and	and	CCONJ
ajbmeb-2854	12	15	aligns	align	VERB
ajbmeb-2854	12	16	with	with	ADP
ajbmeb-2854	12	17	signaling	signal	VERB
ajbmeb-2854	12	18	theory	theory	NOUN
ajbmeb-2854	12	19	and	and	CCONJ
ajbmeb-2854	12	20	bird	bird	NOUN
ajbmeb-2854	12	21	in	in	ADP
ajbmeb-2854	12	22	hand	hand	NOUN
ajbmeb-2854	12	23	theory	theory	NOUN
ajbmeb-2854	12	24	which	which	PRON
ajbmeb-2854	12	25	suggests	suggest	VERB
ajbmeb-2854	12	26	that	that	SCONJ
ajbmeb-2854	12	27	dividends	dividend	NOUN
ajbmeb-2854	12	28	impact	impact	NOUN
ajbmeb-2854	12	29	firm	firm	ADJ
ajbmeb-2854	12	30	value	value	NOUN
ajbmeb-2854	12	31	.	.	PUNCT
ajbmeb-2854	13	1	we	we	PRON
ajbmeb-2854	13	2	recommend	recommend	VERB
ajbmeb-2854	13	3	that	that	PRON
ajbmeb-2854	13	4	to	to	PART
ajbmeb-2854	13	5	maximize	maximize	VERB
ajbmeb-2854	13	6	firm	firm	ADJ
ajbmeb-2854	13	7	value	value	NOUN
ajbmeb-2854	13	8	corporate	corporate	ADJ
ajbmeb-2854	13	9	managers	manager	NOUN
ajbmeb-2854	13	10	should	should	AUX
ajbmeb-2854	13	11	design	design	VERB
ajbmeb-2854	13	12	an	an	DET
ajbmeb-2854	13	13	efficient	efficient	ADJ
ajbmeb-2854	13	14	and	and	CCONJ
ajbmeb-2854	13	15	effective	effective	ADJ
ajbmeb-2854	13	16	dividend	dividend	NOUN
ajbmeb-2854	13	17	policy	policy	NOUN
ajbmeb-2854	13	18	depending	depend	VERB
ajbmeb-2854	13	19	on	on	ADP
ajbmeb-2854	13	20	the	the	DET
ajbmeb-2854	13	21	firms	firm	NOUN
ajbmeb-2854	13	22	financing	financing	NOUN
ajbmeb-2854	13	23	and	and	CCONJ
ajbmeb-2854	13	24	investment	investment	NOUN
ajbmeb-2854	13	25	need	need	VERB
ajbmeb-2854	13	26	taking	take	VERB
ajbmeb-2854	13	27	into	into	ADP
ajbmeb-2854	13	28	consideration	consideration	NOUN
ajbmeb-2854	13	29	the	the	DET
ajbmeb-2854	13	30	interest	interest	NOUN
ajbmeb-2854	13	31	of	of	ADP
ajbmeb-2854	13	32	shareholders	shareholder	NOUN
ajbmeb-2854	13	33	.	.	PUNCT
ajbmeb-2854	14	1	dividend	dividend	NOUN
ajbmeb-2854	14	2	payout	payout	NOUN
ajbmeb-2854	14	3	,	,	PUNCT
ajbmeb-2854	14	4	market	market	NOUN
ajbmeb-2854	14	5	capitalization	capitalization	NOUN
ajbmeb-2854	14	6	,	,	PUNCT
ajbmeb-2854	14	7	inflation	inflation	NOUN
ajbmeb-2854	14	8	,	,	PUNCT
ajbmeb-2854	14	9	firm	firm	ADJ
ajbmeb-2854	14	10	value	value	NOUN
ajbmeb-2854	14	11	,	,	PUNCT
ajbmeb-2854	14	12	tobin	tobin	PROPN
ajbmeb-2854	14	13	q	q	NOUN
ajbmeb-2854	14	14	,	,	PUNCT
ajbmeb-2854	14	15	enterprise	enterprise	NOUN
ajbmeb-2854	14	16	value	value	NOUN
ajbmeb-2854	14	17	,	,	PUNCT
ajbmeb-2854	14	18	price	price	NOUN
ajbmeb-2854	14	19	earnings	earning	NOUN
ajbmeb-2854	14	20	ratio	ratio	NOUN
ajbmeb-2854	14	21	.	.	PUNCT
ajbmeb-2854	15	1	introduction	introduction	NOUN
ajbmeb-2854	15	2	business	business	NOUN
ajbmeb-2854	15	3	owners	owner	NOUN
ajbmeb-2854	15	4	set	set	VERB
ajbmeb-2854	15	5	up	up	ADP
ajbmeb-2854	15	6	businesses	business	NOUN
ajbmeb-2854	15	7	with	with	ADP
ajbmeb-2854	15	8	the	the	DET
ajbmeb-2854	15	9	motive	motive	NOUN
ajbmeb-2854	15	10	of	of	ADP
ajbmeb-2854	15	11	profit	profit	NOUN
ajbmeb-2854	15	12	and	and	CCONJ
ajbmeb-2854	15	13	maximization	maximization	NOUN
ajbmeb-2854	15	14	of	of	ADP
ajbmeb-2854	15	15	wealth	wealth	NOUN
ajbmeb-2854	15	16	.	.	PUNCT
ajbmeb-2854	16	1	since	since	SCONJ
ajbmeb-2854	16	2	the	the	DET
ajbmeb-2854	16	3	advent	advent	NOUN
ajbmeb-2854	16	4	of	of	ADP
ajbmeb-2854	16	5	firms	firm	NOUN
ajbmeb-2854	16	6	where	where	SCONJ
ajbmeb-2854	16	7	ownership	ownership	NOUN
ajbmeb-2854	16	8	is	be	AUX
ajbmeb-2854	16	9	divorced	divorce	VERB
ajbmeb-2854	16	10	from	from	ADP
ajbmeb-2854	16	11	management	management	NOUN
ajbmeb-2854	16	12	corporate	corporate	ADJ
ajbmeb-2854	16	13	managers	manager	NOUN
ajbmeb-2854	16	14	are	be	AUX
ajbmeb-2854	16	15	constantly	constantly	ADV
ajbmeb-2854	16	16	faced	face	VERB
ajbmeb-2854	16	17	with	with	ADP
ajbmeb-2854	16	18	three	three	NUM
ajbmeb-2854	16	19	decision	decision	NOUN
ajbmeb-2854	16	20	making	make	VERB
ajbmeb-2854	16	21	dilemma	dilemma	NOUN
ajbmeb-2854	16	22	which	which	PRON
ajbmeb-2854	16	23	involves	involve	VERB
ajbmeb-2854	16	24	the	the	DET
ajbmeb-2854	16	25	right	right	ADJ
ajbmeb-2854	16	26	choice	choice	NOUN
ajbmeb-2854	16	27	of	of	ADP
ajbmeb-2854	16	28	investment	investment	NOUN
ajbmeb-2854	16	29	portfolio	portfolio	NOUN
ajbmeb-2854	16	30	,	,	PUNCT
ajbmeb-2854	16	31	funding	funding	NOUN
ajbmeb-2854	16	32	and	and	CCONJ
ajbmeb-2854	16	33	compensation	compensation	NOUN
ajbmeb-2854	16	34	of	of	ADP
ajbmeb-2854	16	35	shareholders	shareholder	NOUN
ajbmeb-2854	16	36	in	in	ADP
ajbmeb-2854	16	37	form	form	NOUN
ajbmeb-2854	16	38	of	of	ADP
ajbmeb-2854	16	39	dividend	dividend	NOUN
ajbmeb-2854	16	40	payment	payment	NOUN
ajbmeb-2854	16	41	.	.	PUNCT
ajbmeb-2854	17	1	dividend	dividend	NOUN
ajbmeb-2854	17	2	policy	policy	NOUN
ajbmeb-2854	17	3	determines	determine	VERB
ajbmeb-2854	17	4	american	american	PROPN
ajbmeb-2854	17	5	journal	journal	PROPN
ajbmeb-2854	17	6	of	of	ADP
ajbmeb-2854	17	7	business	business	NOUN
ajbmeb-2854	17	8	management	management	NOUN
ajbmeb-2854	17	9	,	,	PUNCT
ajbmeb-2854	17	10	economics	economic	NOUN
ajbmeb-2854	17	11	and	and	CCONJ
ajbmeb-2854	17	12	banking	banking	NOUN
ajbmeb-2854	17	13	volume	volume	NOUN
ajbmeb-2854	17	14	35	35	NUM
ajbmeb-2854	17	15	april	april	PROPN
ajbmeb-2854	17	16	2025	2025	NUM
ajbmeb-2854	17	17	p	p	NOUN
ajbmeb-2854	17	18	a	a	DET
ajbmeb-2854	17	19	g	g	NOUN
ajbmeb-2854	17	20	e	e	NOUN
ajbmeb-2854	18	1	|	|	ADV
ajbmeb-2854	18	2	45	45	NUM
ajbmeb-2854	18	3	www.americanjournal.org	www.americanjournal.org	NOUN
ajbmeb-2854	18	4	the	the	DET
ajbmeb-2854	18	5	amount	amount	NOUN
ajbmeb-2854	18	6	of	of	ADP
ajbmeb-2854	18	7	dividend	dividend	NOUN
ajbmeb-2854	18	8	paid	pay	VERB
ajbmeb-2854	18	9	to	to	ADP
ajbmeb-2854	18	10	shareholders	shareholder	NOUN
ajbmeb-2854	18	11	.	.	PUNCT
ajbmeb-2854	19	1	a	a	DET
ajbmeb-2854	19	2	firm	firm	NOUN
ajbmeb-2854	19	3	at	at	ADP
ajbmeb-2854	19	4	the	the	DET
ajbmeb-2854	19	5	declaration	declaration	NOUN
ajbmeb-2854	19	6	of	of	ADP
ajbmeb-2854	19	7	profit	profit	NOUN
ajbmeb-2854	19	8	must	must	AUX
ajbmeb-2854	19	9	decide	decide	VERB
ajbmeb-2854	19	10	the	the	DET
ajbmeb-2854	19	11	portion	portion	NOUN
ajbmeb-2854	19	12	which	which	PRON
ajbmeb-2854	19	13	is	be	AUX
ajbmeb-2854	19	14	retained	retain	VERB
ajbmeb-2854	19	15	in	in	ADP
ajbmeb-2854	19	16	the	the	DET
ajbmeb-2854	19	17	business	business	NOUN
ajbmeb-2854	19	18	and	and	CCONJ
ajbmeb-2854	19	19	what	what	PRON
ajbmeb-2854	19	20	must	must	AUX
ajbmeb-2854	19	21	be	be	AUX
ajbmeb-2854	19	22	shared	share	VERB
ajbmeb-2854	19	23	to	to	ADP
ajbmeb-2854	19	24	shareholders	shareholder	NOUN
ajbmeb-2854	19	25	.	.	PUNCT
ajbmeb-2854	20	1	this	this	DET
ajbmeb-2854	20	2	policy	policy	NOUN
ajbmeb-2854	20	3	decision	decision	NOUN
ajbmeb-2854	20	4	is	be	AUX
ajbmeb-2854	20	5	driven	drive	VERB
ajbmeb-2854	20	6	by	by	ADP
ajbmeb-2854	20	7	funding	fund	VERB
ajbmeb-2854	20	8	needs	need	NOUN
ajbmeb-2854	20	9	of	of	ADP
ajbmeb-2854	20	10	the	the	DET
ajbmeb-2854	20	11	entity	entity	NOUN
ajbmeb-2854	20	12	as	as	ADV
ajbmeb-2854	20	13	well	well	ADV
ajbmeb-2854	20	14	as	as	ADP
ajbmeb-2854	20	15	the	the	DET
ajbmeb-2854	20	16	tax	tax	NOUN
ajbmeb-2854	20	17	bracket	bracket	NOUN
ajbmeb-2854	20	18	of	of	ADP
ajbmeb-2854	20	19	shareholders	shareholder	NOUN
ajbmeb-2854	20	20	.	.	PUNCT
ajbmeb-2854	21	1	the	the	DET
ajbmeb-2854	21	2	clientele	clientele	PROPN
ajbmeb-2854	21	3	effect	effect	PROPN
ajbmeb-2854	21	4	theory	theory	NOUN
ajbmeb-2854	21	5	by	by	ADP
ajbmeb-2854	21	6	petit	petit	NOUN
ajbmeb-2854	21	7	(	(	PUNCT
ajbmeb-2854	21	8	1972	1972	NUM
ajbmeb-2854	21	9	)	)	PUNCT
ajbmeb-2854	21	10	captures	capture	VERB
ajbmeb-2854	21	11	this	this	PRON
ajbmeb-2854	21	12	accurately	accurately	ADV
ajbmeb-2854	21	13	and	and	CCONJ
ajbmeb-2854	21	14	states	state	VERB
ajbmeb-2854	21	15	that	that	SCONJ
ajbmeb-2854	21	16	preferences	preference	NOUN
ajbmeb-2854	21	17	for	for	ADP
ajbmeb-2854	21	18	dividends	dividend	NOUN
ajbmeb-2854	21	19	vary	vary	VERB
ajbmeb-2854	21	20	from	from	ADP
ajbmeb-2854	21	21	one	one	NUM
ajbmeb-2854	21	22	group	group	NOUN
ajbmeb-2854	21	23	of	of	ADP
ajbmeb-2854	21	24	clients	client	NOUN
ajbmeb-2854	21	25	or	or	CCONJ
ajbmeb-2854	21	26	shareholders	shareholder	NOUN
ajbmeb-2854	21	27	to	to	ADP
ajbmeb-2854	21	28	another	another	PRON
ajbmeb-2854	21	29	,	,	PUNCT
ajbmeb-2854	21	30	depending	depend	VERB
ajbmeb-2854	21	31	on	on	ADP
ajbmeb-2854	21	32	their	their	PRON
ajbmeb-2854	21	33	other	other	ADJ
ajbmeb-2854	21	34	sources	source	NOUN
ajbmeb-2854	21	35	of	of	ADP
ajbmeb-2854	21	36	income	income	NOUN
ajbmeb-2854	21	37	levels	level	NOUN
ajbmeb-2854	21	38	it	it	PRON
ajbmeb-2854	21	39	is	be	AUX
ajbmeb-2854	21	40	sometimes	sometimes	ADV
ajbmeb-2854	21	41	argued	argue	VERB
ajbmeb-2854	21	42	that	that	SCONJ
ajbmeb-2854	21	43	shareholders	shareholder	NOUN
ajbmeb-2854	21	44	belonging	belong	VERB
ajbmeb-2854	21	45	to	to	ADP
ajbmeb-2854	21	46	high	high	ADJ
ajbmeb-2854	21	47	tax	tax	NOUN
ajbmeb-2854	21	48	bracket	bracket	NOUN
ajbmeb-2854	21	49	will	will	AUX
ajbmeb-2854	21	50	prefer	prefer	VERB
ajbmeb-2854	21	51	retained	retain	VERB
ajbmeb-2854	21	52	earnings	earning	NOUN
ajbmeb-2854	21	53	to	to	PART
ajbmeb-2854	21	54	dividend	dividend	VERB
ajbmeb-2854	21	55	payments	payment	NOUN
ajbmeb-2854	21	56	and	and	CCONJ
ajbmeb-2854	21	57	vice	vice	ADV
ajbmeb-2854	21	58	versa	versa	ADV
ajbmeb-2854	21	59	.	.	PUNCT
ajbmeb-2854	22	1	dividend	dividend	NOUN
ajbmeb-2854	22	2	involves	involve	VERB
ajbmeb-2854	22	3	distribution	distribution	NOUN
ajbmeb-2854	22	4	of	of	ADP
ajbmeb-2854	22	5	profits	profit	NOUN
ajbmeb-2854	22	6	by	by	ADP
ajbmeb-2854	22	7	a	a	DET
ajbmeb-2854	22	8	business	business	NOUN
ajbmeb-2854	22	9	entity	entity	NOUN
ajbmeb-2854	22	10	to	to	ADP
ajbmeb-2854	22	11	owners	owner	NOUN
ajbmeb-2854	22	12	of	of	ADP
ajbmeb-2854	22	13	the	the	DET
ajbmeb-2854	22	14	business	business	NOUN
ajbmeb-2854	22	15	.	.	PUNCT
ajbmeb-2854	23	1	when	when	SCONJ
ajbmeb-2854	23	2	a	a	DET
ajbmeb-2854	23	3	firm	firm	NOUN
ajbmeb-2854	23	4	makes	make	VERB
ajbmeb-2854	23	5	profit	profit	NOUN
ajbmeb-2854	23	6	or	or	CCONJ
ajbmeb-2854	23	7	earn	earn	VERB
ajbmeb-2854	23	8	surplus	surplus	ADJ
ajbmeb-2854	23	9	income	income	NOUN
ajbmeb-2854	23	10	,	,	PUNCT
ajbmeb-2854	23	11	it	it	PRON
ajbmeb-2854	23	12	is	be	AUX
ajbmeb-2854	23	13	able	able	ADJ
ajbmeb-2854	23	14	to	to	PART
ajbmeb-2854	23	15	pay	pay	VERB
ajbmeb-2854	23	16	a	a	DET
ajbmeb-2854	23	17	proportion	proportion	NOUN
ajbmeb-2854	23	18	of	of	ADP
ajbmeb-2854	23	19	the	the	DET
ajbmeb-2854	23	20	profit	profit	NOUN
ajbmeb-2854	23	21	as	as	ADP
ajbmeb-2854	23	22	a	a	DET
ajbmeb-2854	23	23	dividend	dividend	NOUN
ajbmeb-2854	23	24	to	to	PART
ajbmeb-2854	23	25	shareholder	shareholder	VERB
ajbmeb-2854	23	26	the	the	DET
ajbmeb-2854	23	27	remainder	remainder	NOUN
ajbmeb-2854	23	28	of	of	ADP
ajbmeb-2854	23	29	profit	profit	NOUN
ajbmeb-2854	23	30	after	after	SCONJ
ajbmeb-2854	23	31	dividend	dividend	NOUN
ajbmeb-2854	23	32	is	be	AUX
ajbmeb-2854	23	33	retained	retain	VERB
ajbmeb-2854	23	34	and	and	CCONJ
ajbmeb-2854	23	35	used	use	VERB
ajbmeb-2854	23	36	for	for	ADP
ajbmeb-2854	23	37	reinvestment	reinvestment	NOUN
ajbmeb-2854	23	38	into	into	ADP
ajbmeb-2854	23	39	the	the	DET
ajbmeb-2854	23	40	business	business	NOUN
ajbmeb-2854	23	41	for	for	ADP
ajbmeb-2854	23	42	future	future	ADJ
ajbmeb-2854	23	43	expansion	expansion	NOUN
ajbmeb-2854	23	44	and	and	CCONJ
ajbmeb-2854	23	45	fulfillment	fulfillment	NOUN
ajbmeb-2854	23	46	of	of	ADP
ajbmeb-2854	23	47	the	the	DET
ajbmeb-2854	23	48	funding	funding	NOUN
ajbmeb-2854	23	49	needs	need	NOUN
ajbmeb-2854	23	50	of	of	ADP
ajbmeb-2854	23	51	the	the	DET
ajbmeb-2854	23	52	entity	entity	NOUN
ajbmeb-2854	23	53	.	.	PUNCT
ajbmeb-2854	24	1	a	a	DET
ajbmeb-2854	24	2	high	high	ADJ
ajbmeb-2854	24	3	dividend	dividend	NOUN
ajbmeb-2854	24	4	payout	payout	NOUN
ajbmeb-2854	24	5	implies	imply	VERB
ajbmeb-2854	24	6	less	less	ADJ
ajbmeb-2854	24	7	reinvestment	reinvestment	NOUN
ajbmeb-2854	24	8	of	of	ADP
ajbmeb-2854	24	9	funds	fund	NOUN
ajbmeb-2854	24	10	into	into	ADP
ajbmeb-2854	24	11	the	the	DET
ajbmeb-2854	24	12	business	business	NOUN
ajbmeb-2854	24	13	while	while	SCONJ
ajbmeb-2854	24	14	low	low	ADJ
ajbmeb-2854	24	15	dividends	dividend	NOUN
ajbmeb-2854	24	16	imply	imply	VERB
ajbmeb-2854	24	17	high	high	ADJ
ajbmeb-2854	24	18	reinvestment	reinvestment	NOUN
ajbmeb-2854	24	19	of	of	ADP
ajbmeb-2854	24	20	funds	fund	NOUN
ajbmeb-2854	24	21	back	back	ADV
ajbmeb-2854	24	22	to	to	ADP
ajbmeb-2854	24	23	the	the	DET
ajbmeb-2854	24	24	business	business	NOUN
ajbmeb-2854	24	25	.	.	PUNCT
ajbmeb-2854	25	1	there	there	PRON
ajbmeb-2854	25	2	is	be	VERB
ajbmeb-2854	25	3	the	the	DET
ajbmeb-2854	25	4	argument	argument	NOUN
ajbmeb-2854	25	5	that	that	SCONJ
ajbmeb-2854	25	6	high	high	ADJ
ajbmeb-2854	25	7	dividend	dividend	NOUN
ajbmeb-2854	25	8	pay	pay	VERB
ajbmeb-2854	25	9	out	out	ADP
ajbmeb-2854	25	10	to	to	ADP
ajbmeb-2854	25	11	shareholders	shareholder	NOUN
ajbmeb-2854	25	12	serve	serve	VERB
ajbmeb-2854	25	13	as	as	ADP
ajbmeb-2854	25	14	an	an	DET
ajbmeb-2854	25	15	attraction	attraction	NOUN
ajbmeb-2854	25	16	to	to	ADP
ajbmeb-2854	25	17	investors	investor	NOUN
ajbmeb-2854	25	18	on	on	ADP
ajbmeb-2854	25	19	the	the	DET
ajbmeb-2854	25	20	assumption	assumption	NOUN
ajbmeb-2854	25	21	that	that	SCONJ
ajbmeb-2854	25	22	there	there	PRON
ajbmeb-2854	25	23	is	be	VERB
ajbmeb-2854	25	24	an	an	DET
ajbmeb-2854	25	25	assurance	assurance	NOUN
ajbmeb-2854	25	26	of	of	ADP
ajbmeb-2854	25	27	steady	steady	ADJ
ajbmeb-2854	25	28	streams	stream	NOUN
ajbmeb-2854	25	29	of	of	ADP
ajbmeb-2854	25	30	income	income	NOUN
ajbmeb-2854	25	31	from	from	ADP
ajbmeb-2854	25	32	investment	investment	NOUN
ajbmeb-2854	25	33	with	with	ADP
ajbmeb-2854	25	34	high	high	ADJ
ajbmeb-2854	25	35	possibility	possibility	NOUN
ajbmeb-2854	25	36	of	of	ADP
ajbmeb-2854	25	37	increase	increase	NOUN
ajbmeb-2854	25	38	in	in	ADP
ajbmeb-2854	25	39	share	share	NOUN
ajbmeb-2854	25	40	price	price	NOUN
ajbmeb-2854	25	41	(	(	PUNCT
ajbmeb-2854	25	42	khan	khan	PROPN
ajbmeb-2854	25	43	et	et	PROPN
ajbmeb-2854	25	44	al.2019	al.2019	PROPN
ajbmeb-2854	25	45	)	)	PUNCT
ajbmeb-2854	25	46	.	.	PUNCT
ajbmeb-2854	26	1	conversely	conversely	ADV
ajbmeb-2854	26	2	low	low	ADJ
ajbmeb-2854	26	3	dividend	dividend	NOUN
ajbmeb-2854	26	4	payout	payout	NOUN
ajbmeb-2854	26	5	signals	signal	NOUN
ajbmeb-2854	26	6	re	re	NOUN
ajbmeb-2854	27	1	-	-	NOUN
ajbmeb-2854	27	2	investment	investment	NOUN
ajbmeb-2854	27	3	in	in	ADP
ajbmeb-2854	27	4	the	the	DET
ajbmeb-2854	27	5	business	business	NOUN
ajbmeb-2854	27	6	for	for	ADP
ajbmeb-2854	27	7	growth	growth	NOUN
ajbmeb-2854	27	8	,	,	PUNCT
ajbmeb-2854	27	9	future	future	ADJ
ajbmeb-2854	27	10	gains	gain	NOUN
ajbmeb-2854	27	11	,	,	PUNCT
ajbmeb-2854	27	12	expansion	expansion	NOUN
ajbmeb-2854	27	13	and	and	CCONJ
ajbmeb-2854	27	14	delayed	delay	VERB
ajbmeb-2854	27	15	gratification	gratification	NOUN
ajbmeb-2854	27	16	to	to	ADP
ajbmeb-2854	27	17	shareholders	shareholder	NOUN
ajbmeb-2854	27	18	.	.	PUNCT
ajbmeb-2854	28	1	the	the	DET
ajbmeb-2854	28	2	dilemma	dilemma	NOUN
ajbmeb-2854	28	3	faced	face	VERB
ajbmeb-2854	28	4	by	by	ADP
ajbmeb-2854	28	5	corporate	corporate	ADJ
ajbmeb-2854	28	6	managers	manager	NOUN
ajbmeb-2854	28	7	have	have	AUX
ajbmeb-2854	28	8	ignited	ignite	VERB
ajbmeb-2854	28	9	a	a	DET
ajbmeb-2854	28	10	hot	hot	ADJ
ajbmeb-2854	28	11	debateon	debateon	NOUN
ajbmeb-2854	28	12	the	the	DET
ajbmeb-2854	28	13	subject	subject	NOUN
ajbmeb-2854	28	14	of	of	ADP
ajbmeb-2854	28	15	firm	firm	ADJ
ajbmeb-2854	28	16	value	value	NOUN
ajbmeb-2854	28	17	,	,	PUNCT
ajbmeb-2854	28	18	funding	funding	NOUN
ajbmeb-2854	28	19	and	and	CCONJ
ajbmeb-2854	28	20	dividend	dividend	NOUN
ajbmeb-2854	28	21	payment	payment	NOUN
ajbmeb-2854	28	22	.	.	PUNCT
ajbmeb-2854	29	1	many	many	ADJ
ajbmeb-2854	29	2	theoretical	theoretical	ADJ
ajbmeb-2854	29	3	and	and	CCONJ
ajbmeb-2854	29	4	conflicting	conflicting	ADJ
ajbmeb-2854	29	5	postulations	postulation	NOUN
ajbmeb-2854	29	6	have	have	AUX
ajbmeb-2854	29	7	been	be	AUX
ajbmeb-2854	29	8	made	make	VERB
ajbmeb-2854	29	9	by	by	ADP
ajbmeb-2854	29	10	scholars	scholar	NOUN
ajbmeb-2854	29	11	in	in	ADP
ajbmeb-2854	29	12	the	the	DET
ajbmeb-2854	29	13	corporate	corporate	ADJ
ajbmeb-2854	29	14	finance	finance	NOUN
ajbmeb-2854	29	15	literature	literature	NOUN
ajbmeb-2854	29	16	in	in	ADP
ajbmeb-2854	29	17	an	an	DET
ajbmeb-2854	29	18	attempt	attempt	NOUN
ajbmeb-2854	29	19	to	to	PART
ajbmeb-2854	29	20	assist	assist	VERB
ajbmeb-2854	29	21	corporate	corporate	ADJ
ajbmeb-2854	29	22	managers	manager	NOUN
ajbmeb-2854	29	23	handle	handle	VERB
ajbmeb-2854	29	24	the	the	DET
ajbmeb-2854	29	25	problem	problem	NOUN
ajbmeb-2854	29	26	.	.	PUNCT
ajbmeb-2854	30	1	modigliani	modigliani	PROPN
ajbmeb-2854	30	2	and	and	CCONJ
ajbmeb-2854	30	3	miller	miller	PROPN
ajbmeb-2854	30	4	(	(	PUNCT
ajbmeb-2854	30	5	1958	1958	NUM
ajbmeb-2854	30	6	)	)	PUNCT
ajbmeb-2854	30	7	had	have	AUX
ajbmeb-2854	30	8	earlier	early	ADV
ajbmeb-2854	30	9	argued	argue	VERB
ajbmeb-2854	30	10	that	that	SCONJ
ajbmeb-2854	30	11	the	the	DET
ajbmeb-2854	30	12	funding	funding	NOUN
ajbmeb-2854	30	13	arrangement	arrangement	NOUN
ajbmeb-2854	30	14	of	of	ADP
ajbmeb-2854	30	15	an	an	DET
ajbmeb-2854	30	16	entity	entity	NOUN
ajbmeb-2854	30	17	does	do	AUX
ajbmeb-2854	30	18	not	not	PART
ajbmeb-2854	30	19	affect	affect	VERB
ajbmeb-2854	30	20	its	its	PRON
ajbmeb-2854	30	21	value	value	NOUN
ajbmeb-2854	30	22	but	but	CCONJ
ajbmeb-2854	30	23	rather	rather	ADV
ajbmeb-2854	30	24	the	the	DET
ajbmeb-2854	30	25	asset	asset	NOUN
ajbmeb-2854	30	26	does	do	VERB
ajbmeb-2854	30	27	and	and	CCONJ
ajbmeb-2854	30	28	from	from	ADP
ajbmeb-2854	30	29	there	there	ADV
ajbmeb-2854	30	30	suggested	suggest	VERB
ajbmeb-2854	30	31	the	the	DET
ajbmeb-2854	30	32	irrelevance	irrelevance	NOUN
ajbmeb-2854	30	33	of	of	ADP
ajbmeb-2854	30	34	the	the	DET
ajbmeb-2854	30	35	funding	funding	NOUN
ajbmeb-2854	30	36	mix	mix	NOUN
ajbmeb-2854	30	37	of	of	ADP
ajbmeb-2854	30	38	an	an	DET
ajbmeb-2854	30	39	entity	entity	NOUN
ajbmeb-2854	30	40	.	.	PUNCT
ajbmeb-2854	31	1	this	this	DET
ajbmeb-2854	31	2	propositions	proposition	NOUN
ajbmeb-2854	31	3	further	far	ADV
ajbmeb-2854	31	4	expanded	expand	VERB
ajbmeb-2854	31	5	by	by	ADP
ajbmeb-2854	31	6	the	the	DET
ajbmeb-2854	31	7	same	same	ADJ
ajbmeb-2854	31	8	authors	author	NOUN
ajbmeb-2854	31	9	miller	miller	PROPN
ajbmeb-2854	31	10	and	and	CCONJ
ajbmeb-2854	31	11	modigliani	modigliani	PROPN
ajbmeb-2854	31	12	(	(	PUNCT
ajbmeb-2854	31	13	1961	1961	NUM
ajbmeb-2854	31	14	)	)	PUNCT
ajbmeb-2854	31	15	enthused	enthuse	VERB
ajbmeb-2854	31	16	that	that	SCONJ
ajbmeb-2854	31	17	based	base	VERB
ajbmeb-2854	31	18	on	on	ADP
ajbmeb-2854	31	19	perfect	perfect	ADJ
ajbmeb-2854	31	20	market	market	NOUN
ajbmeb-2854	31	21	conditions	condition	NOUN
ajbmeb-2854	31	22	dividend	dividend	NOUN
ajbmeb-2854	31	23	policy	policy	NOUN
ajbmeb-2854	31	24	has	have	VERB
ajbmeb-2854	31	25	no	no	DET
ajbmeb-2854	31	26	effect	effect	NOUN
ajbmeb-2854	31	27	on	on	ADP
ajbmeb-2854	31	28	share	share	NOUN
ajbmeb-2854	31	29	prices	price	NOUN
ajbmeb-2854	31	30	and	and	CCONJ
ajbmeb-2854	31	31	cost	cost	NOUN
ajbmeb-2854	31	32	of	of	ADP
ajbmeb-2854	31	33	capital	capital	NOUN
ajbmeb-2854	31	34	and	and	CCONJ
ajbmeb-2854	31	35	investors	investor	NOUN
ajbmeb-2854	31	36	attach	attach	VERB
ajbmeb-2854	31	37	no	no	DET
ajbmeb-2854	31	38	importance	importance	NOUN
ajbmeb-2854	31	39	to	to	PART
ajbmeb-2854	31	40	dividend	dividend	VERB
ajbmeb-2854	31	41	history	history	NOUN
ajbmeb-2854	31	42	of	of	ADP
ajbmeb-2854	31	43	the	the	DET
ajbmeb-2854	31	44	entity	entity	NOUN
ajbmeb-2854	31	45	thus	thus	ADV
ajbmeb-2854	31	46	dividend	dividend	NOUN
ajbmeb-2854	31	47	is	be	AUX
ajbmeb-2854	31	48	irrelevant	irrelevant	ADJ
ajbmeb-2854	31	49	in	in	ADP
ajbmeb-2854	31	50	share	share	NOUN
ajbmeb-2854	31	51	valuation	valuation	NOUN
ajbmeb-2854	31	52	..	..	PUNCT
ajbmeb-2854	31	53	contrasting	contrast	VERB
ajbmeb-2854	31	54	with	with	ADP
ajbmeb-2854	31	55	the	the	DET
ajbmeb-2854	31	56	position	position	NOUN
ajbmeb-2854	31	57	of	of	ADP
ajbmeb-2854	31	58	miller	miller	PROPN
ajbmeb-2854	31	59	and	and	CCONJ
ajbmeb-2854	31	60	modigliani	modigliani	PROPN
ajbmeb-2854	31	61	(	(	PUNCT
ajbmeb-2854	31	62	1961	1961	NUM
ajbmeb-2854	31	63	)	)	PUNCT
ajbmeb-2854	31	64	is	be	AUX
ajbmeb-2854	31	65	the	the	DET
ajbmeb-2854	31	66	bird	bird	NOUN
ajbmeb-2854	31	67	in	in	ADP
ajbmeb-2854	31	68	hand	hand	NOUN
ajbmeb-2854	31	69	theory	theory	NOUN
ajbmeb-2854	31	70	pioneered	pioneer	VERB
ajbmeb-2854	31	71	by	by	ADP
ajbmeb-2854	31	72	gordon(1962	gordon(1962	NOUN
ajbmeb-2854	31	73	)	)	PUNCT
ajbmeb-2854	31	74	)	)	PUNCT
ajbmeb-2854	31	75	which	which	PRON
ajbmeb-2854	31	76	states	state	VERB
ajbmeb-2854	31	77	that	that	SCONJ
ajbmeb-2854	31	78	dividend	dividend	NOUN
ajbmeb-2854	31	79	are	be	AUX
ajbmeb-2854	31	80	relevant	relevant	ADJ
ajbmeb-2854	31	81	to	to	ADP
ajbmeb-2854	31	82	the	the	DET
ajbmeb-2854	31	83	value	value	NOUN
ajbmeb-2854	31	84	of	of	ADP
ajbmeb-2854	31	85	the	the	DET
ajbmeb-2854	31	86	firm	firm	NOUN
ajbmeb-2854	31	87	.	.	PUNCT
ajbmeb-2854	32	1	this	this	DET
ajbmeb-2854	32	2	position	position	NOUN
ajbmeb-2854	32	3	is	be	AUX
ajbmeb-2854	32	4	further	far	ADV
ajbmeb-2854	32	5	supported	support	VERB
ajbmeb-2854	32	6	by	by	ADP
ajbmeb-2854	32	7	litzenberger	litzenberger	NOUN
ajbmeb-2854	32	8	and	and	CCONJ
ajbmeb-2854	32	9	ramaswamy	ramaswamy	ADJ
ajbmeb-2854	32	10	(	(	PUNCT
ajbmeb-2854	32	11	1982	1982	NUM
ajbmeb-2854	32	12	)	)	PUNCT
ajbmeb-2854	32	13	that	that	PRON
ajbmeb-2854	32	14	dividend	dividend	NOUN
ajbmeb-2854	32	15	policy	policy	NOUN
ajbmeb-2854	32	16	is	be	AUX
ajbmeb-2854	32	17	relevant	relevant	ADJ
ajbmeb-2854	32	18	and	and	CCONJ
ajbmeb-2854	32	19	influences	influence	VERB
ajbmeb-2854	32	20	investors	investor	NOUN
ajbmeb-2854	32	21	’	'	PUNCT
ajbmeb-2854	32	22	behaviour	behaviour	NOUN
ajbmeb-2854	32	23	.	.	PUNCT
ajbmeb-2854	33	1	the	the	DET
ajbmeb-2854	33	2	position	position	NOUN
ajbmeb-2854	33	3	is	be	AUX
ajbmeb-2854	33	4	justified	justify	VERB
ajbmeb-2854	33	5	through	through	ADP
ajbmeb-2854	33	6	the	the	DET
ajbmeb-2854	33	7	argument	argument	NOUN
ajbmeb-2854	33	8	that	that	SCONJ
ajbmeb-2854	33	9	disparity	disparity	NOUN
ajbmeb-2854	33	10	exist	exist	VERB
ajbmeb-2854	33	11	between	between	ADP
ajbmeb-2854	33	12	taxation	taxation	NOUN
ajbmeb-2854	33	13	on	on	ADP
ajbmeb-2854	33	14	dividends	dividend	NOUN
ajbmeb-2854	33	15	and	and	CCONJ
ajbmeb-2854	33	16	capital	capital	NOUN
ajbmeb-2854	33	17	gains	gain	NOUN
ajbmeb-2854	33	18	.	.	PUNCT
ajbmeb-2854	34	1	investors	investor	NOUN
ajbmeb-2854	34	2	are	be	AUX
ajbmeb-2854	34	3	expected	expect	VERB
ajbmeb-2854	34	4	to	to	PART
ajbmeb-2854	34	5	show	show	VERB
ajbmeb-2854	34	6	preference	preference	NOUN
ajbmeb-2854	34	7	to	to	ADP
ajbmeb-2854	34	8	low	low	ADJ
ajbmeb-2854	34	9	dividend	dividend	NOUN
ajbmeb-2854	34	10	business	business	NOUN
ajbmeb-2854	34	11	driven	drive	VERB
ajbmeb-2854	34	12	by	by	ADP
ajbmeb-2854	34	13	the	the	DET
ajbmeb-2854	34	14	motive	motive	NOUN
ajbmeb-2854	34	15	to	to	PART
ajbmeb-2854	34	16	minimize	minimize	VERB
ajbmeb-2854	34	17	tax	tax	NOUN
ajbmeb-2854	34	18	.	.	PUNCT
ajbmeb-2854	35	1	further	far	ADV
ajbmeb-2854	35	2	supporting	support	VERB
ajbmeb-2854	35	3	the	the	DET
ajbmeb-2854	35	4	relevance	relevance	NOUN
ajbmeb-2854	35	5	of	of	ADP
ajbmeb-2854	35	6	dividend	dividend	NOUN
ajbmeb-2854	35	7	is	be	AUX
ajbmeb-2854	35	8	signaling	signal	VERB
ajbmeb-2854	35	9	theory	theory	NOUN
ajbmeb-2854	35	10	by	by	ADP
ajbmeb-2854	35	11	fama	fama	PROPN
ajbmeb-2854	35	12	et	et	PROPN
ajbmeb-2854	35	13	al	al	PROPN
ajbmeb-2854	35	14	.	.	PROPN
ajbmeb-2854	36	1	(	(	PUNCT
ajbmeb-2854	36	2	1969	1969	NUM
ajbmeb-2854	36	3	)	)	PUNCT
ajbmeb-2854	36	4	and	and	CCONJ
ajbmeb-2854	36	5	spence	spence	NOUN
ajbmeb-2854	36	6	(	(	PUNCT
ajbmeb-2854	36	7	1973).agency	1973).agency	NUM
ajbmeb-2854	36	8	cost	cost	NOUN
ajbmeb-2854	36	9	theory	theory	NOUN
ajbmeb-2854	36	10	presents	present	VERB
ajbmeb-2854	36	11	the	the	DET
ajbmeb-2854	36	12	implication	implication	NOUN
ajbmeb-2854	36	13	that	that	PRON
ajbmeb-2854	36	14	company	company	NOUN
ajbmeb-2854	36	15	’s	’	VERB
ajbmeb-2854	36	16	implementing	implement	VERB
ajbmeb-2854	36	17	high	high	ADJ
ajbmeb-2854	36	18	dividend	dividend	NOUN
ajbmeb-2854	36	19	outlay	outlay	NOUN
ajbmeb-2854	36	20	ratio	ratio	NOUN
ajbmeb-2854	36	21	has	have	AUX
ajbmeb-2854	36	22	greater	great	ADJ
ajbmeb-2854	36	23	firm	firm	ADJ
ajbmeb-2854	36	24	value	value	NOUN
ajbmeb-2854	36	25	as	as	SCONJ
ajbmeb-2854	36	26	the	the	DET
ajbmeb-2854	36	27	agency	agency	NOUN
ajbmeb-2854	36	28	costs	cost	NOUN
ajbmeb-2854	36	29	are	be	AUX
ajbmeb-2854	36	30	reduced	reduce	VERB
ajbmeb-2854	36	31	(	(	PUNCT
ajbmeb-2854	36	32	gitman	gitman	NOUN
ajbmeb-2854	36	33	,	,	PUNCT
ajbmeb-2854	36	34	2010	2010	NUM
ajbmeb-2854	36	35	)	)	PUNCT
ajbmeb-2854	36	36	.	.	PUNCT
ajbmeb-2854	37	1	there	there	PRON
ajbmeb-2854	37	2	are	be	VERB
ajbmeb-2854	37	3	arguments	argument	NOUN
ajbmeb-2854	37	4	that	that	SCONJ
ajbmeb-2854	37	5	firms	firm	NOUN
ajbmeb-2854	37	6	could	could	AUX
ajbmeb-2854	37	7	finance	finance	VERB
ajbmeb-2854	37	8	their	their	PRON
ajbmeb-2854	37	9	operations	operation	NOUN
ajbmeb-2854	37	10	through	through	AUX
ajbmeb-2854	37	11	retain	retain	VERB
ajbmeb-2854	37	12	earnings	earning	NOUN
ajbmeb-2854	37	13	by	by	ADP
ajbmeb-2854	37	14	adopting	adopt	VERB
ajbmeb-2854	37	15	low	low	ADJ
ajbmeb-2854	37	16	dividend	dividend	NOUN
ajbmeb-2854	37	17	payout	payout	NOUN
ajbmeb-2854	37	18	policy	policy	NOUN
ajbmeb-2854	37	19	and	and	CCONJ
ajbmeb-2854	37	20	using	use	VERB
ajbmeb-2854	37	21	the	the	DET
ajbmeb-2854	37	22	retained	retain	VERB
ajbmeb-2854	37	23	funds	fund	NOUN
ajbmeb-2854	37	24	to	to	PART
ajbmeb-2854	37	25	finance	finance	VERB
ajbmeb-2854	37	26	its	its	PRON
ajbmeb-2854	37	27	activities	activity	NOUN
ajbmeb-2854	37	28	which	which	PRON
ajbmeb-2854	37	29	yields	yield	VERB
ajbmeb-2854	37	30	profit	profit	NOUN
ajbmeb-2854	37	31	and	and	CCONJ
ajbmeb-2854	37	32	ultimately	ultimately	ADV
ajbmeb-2854	37	33	enhances	enhance	VERB
ajbmeb-2854	37	34	firm	firm	ADJ
ajbmeb-2854	37	35	value	value	NOUN
ajbmeb-2854	37	36	.	.	PUNCT
ajbmeb-2854	38	1	baker	baker	PROPN
ajbmeb-2854	38	2	and	and	CCONJ
ajbmeb-2854	38	3	powell	powell	PROPN
ajbmeb-2854	38	4	(	(	PUNCT
ajbmeb-2854	38	5	1999	1999	NUM
ajbmeb-2854	38	6	)	)	PUNCT
ajbmeb-2854	38	7	argues	argue	VERB
ajbmeb-2854	38	8	that	that	SCONJ
ajbmeb-2854	38	9	dividend	dividend	NOUN
ajbmeb-2854	38	10	policy	policy	NOUN
ajbmeb-2854	38	11	decisions	decision	NOUN
ajbmeb-2854	38	12	is	be	AUX
ajbmeb-2854	38	13	one	one	NUM
ajbmeb-2854	38	14	of	of	ADP
ajbmeb-2854	38	15	the	the	DET
ajbmeb-2854	38	16	most	most	ADV
ajbmeb-2854	38	17	important	important	ADJ
ajbmeb-2854	38	18	corporate	corporate	ADJ
ajbmeb-2854	38	19	finance	finance	NOUN
ajbmeb-2854	38	20	decision	decision	NOUN
ajbmeb-2854	38	21	to	to	PART
ajbmeb-2854	38	22	be	be	AUX
ajbmeb-2854	38	23	taken	take	VERB
ajbmeb-2854	38	24	by	by	ADP
ajbmeb-2854	38	25	corporate	corporate	ADJ
ajbmeb-2854	38	26	managers	manager	NOUN
ajbmeb-2854	38	27	.	.	PUNCT
ajbmeb-2854	39	1	in	in	ADP
ajbmeb-2854	39	2	concurrence	concurrence	NOUN
ajbmeb-2854	39	3	to	to	ADP
ajbmeb-2854	39	4	the	the	DET
ajbmeb-2854	39	5	relevance	relevance	NOUN
ajbmeb-2854	39	6	of	of	ADP
ajbmeb-2854	39	7	dividend	dividend	NOUN
ajbmeb-2854	39	8	omran	omran	PROPN
ajbmeb-2854	39	9	&	&	CCONJ
ajbmeb-2854	39	10	pointon	pointon	PROPN
ajbmeb-2854	39	11	(	(	PUNCT
ajbmeb-2854	39	12	2004	2004	NUM
ajbmeb-2854	39	13	)	)	PUNCT
ajbmeb-2854	39	14	explained	explain	VERB
ajbmeb-2854	39	15	that	that	SCONJ
ajbmeb-2854	39	16	dividend	dividend	NOUN
ajbmeb-2854	39	17	has	have	VERB
ajbmeb-2854	39	18	the	the	DET
ajbmeb-2854	39	19	potential	potential	NOUN
ajbmeb-2854	39	20	to	to	PART
ajbmeb-2854	39	21	impact	impact	VERB
ajbmeb-2854	39	22	share	share	NOUN
ajbmeb-2854	39	23	prices	price	NOUN
ajbmeb-2854	39	24	,	,	PUNCT
ajbmeb-2854	39	25	returns	return	NOUN
ajbmeb-2854	39	26	to	to	ADP
ajbmeb-2854	39	27	investors	investor	NOUN
ajbmeb-2854	39	28	,	,	PUNCT
ajbmeb-2854	39	29	internal	internal	ADJ
ajbmeb-2854	39	30	financing	financing	NOUN
ajbmeb-2854	39	31	and	and	CCONJ
ajbmeb-2854	39	32	equity	equity	NOUN
ajbmeb-2854	39	33	base	base	NOUN
ajbmeb-2854	39	34	since	since	SCONJ
ajbmeb-2854	39	35	retain	retain	VERB
ajbmeb-2854	39	36	earnings	earning	NOUN
ajbmeb-2854	39	37	can	can	AUX
ajbmeb-2854	39	38	be	be	AUX
ajbmeb-2854	39	39	converted	convert	VERB
ajbmeb-2854	39	40	to	to	ADP
ajbmeb-2854	39	41	shares	share	NOUN
ajbmeb-2854	39	42	through	through	ADP
ajbmeb-2854	39	43	capital	capital	NOUN
ajbmeb-2854	39	44	reserves	reserve	NOUN
ajbmeb-2854	39	45	.	.	PUNCT
ajbmeb-2854	40	1	the	the	DET
ajbmeb-2854	40	2	conflicts	conflict	NOUN
ajbmeb-2854	40	3	in	in	ADP
ajbmeb-2854	40	4	the	the	DET
ajbmeb-2854	40	5	finance	finance	NOUN
ajbmeb-2854	40	6	literature	literature	NOUN
ajbmeb-2854	40	7	with	with	ADP
ajbmeb-2854	40	8	regards	regard	NOUN
ajbmeb-2854	40	9	to	to	ADP
ajbmeb-2854	40	10	the	the	DET
ajbmeb-2854	40	11	relevance	relevance	NOUN
ajbmeb-2854	40	12	or	or	CCONJ
ajbmeb-2854	40	13	not	not	PART
ajbmeb-2854	40	14	of	of	ADP
ajbmeb-2854	40	15	dividend	dividend	NOUN
ajbmeb-2854	40	16	is	be	AUX
ajbmeb-2854	40	17	not	not	PART
ajbmeb-2854	40	18	limited	limit	VERB
ajbmeb-2854	40	19	to	to	ADP
ajbmeb-2854	40	20	theoretical	theoretical	ADJ
ajbmeb-2854	40	21	propositions	proposition	NOUN
ajbmeb-2854	40	22	as	as	SCONJ
ajbmeb-2854	40	23	many	many	ADJ
ajbmeb-2854	40	24	studies	study	NOUN
ajbmeb-2854	40	25	produce	produce	VERB
ajbmeb-2854	40	26	mixed	mixed	ADJ
ajbmeb-2854	40	27	results	result	NOUN
ajbmeb-2854	40	28	.	.	PUNCT
ajbmeb-2854	41	1	while	while	SCONJ
ajbmeb-2854	41	2	modigliani	modigliani	PROPN
ajbmeb-2854	41	3	and	and	CCONJ
ajbmeb-2854	41	4	miller	miller	PROPN
ajbmeb-2854	41	5	(	(	PUNCT
ajbmeb-2854	41	6	1961	1961	NUM
ajbmeb-2854	41	7	)	)	PUNCT
ajbmeb-2854	41	8	proposed	propose	VERB
ajbmeb-2854	41	9	irrelevance	irrelevance	NOUN
ajbmeb-2854	41	10	of	of	ADP
ajbmeb-2854	41	11	dividend	dividend	NOUN
ajbmeb-2854	41	12	in	in	ADP
ajbmeb-2854	41	13	determining	determine	VERB
ajbmeb-2854	41	14	firm	firm	ADJ
ajbmeb-2854	41	15	value	value	NOUN
ajbmeb-2854	41	16	and	and	CCONJ
ajbmeb-2854	41	17	is	be	AUX
ajbmeb-2854	41	18	supported	support	VERB
ajbmeb-2854	41	19	by	by	ADP
ajbmeb-2854	41	20	other	other	ADJ
ajbmeb-2854	41	21	studies	study	NOUN
ajbmeb-2854	41	22	by	by	ADP
ajbmeb-2854	41	23	de	de	X
ajbmeb-2854	41	24	angelo	angelo	PROPN
ajbmeb-2854	41	25	et	et	PROPN
ajbmeb-2854	41	26	al	al	PROPN
ajbmeb-2854	41	27	.	.	PUNCT
ajbmeb-2854	42	1	(	(	PUNCT
ajbmeb-2854	42	2	1996),lang	1996),lang	NUM
ajbmeb-2854	42	3	&	&	CCONJ
ajbmeb-2854	42	4	litzenberger	litzenberger	NOUN
ajbmeb-2854	42	5	(	(	PUNCT
ajbmeb-2854	42	6	1989	1989	NUM
ajbmeb-2854	42	7	)	)	PUNCT
ajbmeb-2854	42	8	.	.	PUNCT
ajbmeb-2854	43	1	chen	chen	PROPN
ajbmeb-2854	43	2	et	et	PROPN
ajbmeb-2854	43	3	al	al	PROPN
ajbmeb-2854	43	4	(	(	PUNCT
ajbmeb-2854	43	5	2002	2002	NUM
ajbmeb-2854	43	6	)	)	PUNCT
ajbmeb-2854	43	7	,	,	PUNCT
ajbmeb-2854	43	8	uddin	uddin	PROPN
ajbmeb-2854	43	9	,	,	PUNCT
ajbmeb-2854	43	10	(	(	PUNCT
ajbmeb-2854	43	11	2005	2005	NUM
ajbmeb-2854	43	12	and	and	CCONJ
ajbmeb-2854	43	13	irum	irum	PROPN
ajbmeb-2854	43	14	et	et	PROPN
ajbmeb-2854	43	15	al	al	PROPN
ajbmeb-2854	43	16	.	.	PROPN
ajbmeb-2854	43	17	,	,	PUNCT
ajbmeb-2854	43	18	https://www.mdpi.com/1911-8074/14/8/353#b17-jrfm-14-00353	https://www.mdpi.com/1911-8074/14/8/353#b17-jrfm-14-00353	PROPN
ajbmeb-2854	43	19	https://www.mdpi.com/1911-8074/14/8/353#b17-jrfm-14-00353	https://www.mdpi.com/1911-8074/14/8/353#b17-jrfm-14-00353	PROPN
ajbmeb-2854	43	20	https://www.mdpi.com/1911-8074/14/8/353#b23-jrfm-14-00353	https://www.mdpi.com/1911-8074/14/8/353#b23-jrfm-14-00353	PROPN
ajbmeb-2854	43	21	https://www.mdpi.com/1911-8074/14/8/353#b23-jrfm-14-00353	https://www.mdpi.com/1911-8074/14/8/353#b23-jrfm-14-00353	PROPN
ajbmeb-2854	43	22	https://www.mdpi.com/1911-8074/14/8/353#b23-jrfm-14-00353	https://www.mdpi.com/1911-8074/14/8/353#b23-jrfm-14-00353	PROPN
ajbmeb-2854	43	23	https://www.mdpi.com/1911-8074/14/8/353#b23-jrfm-14-00353	https://www.mdpi.com/1911-8074/14/8/353#b23-jrfm-14-00353	PROPN
ajbmeb-2854	43	24	https://www.mdpi.com/1911-8074/14/8/353#b23-jrfm-14-00353	https://www.mdpi.com/1911-8074/14/8/353#b23-jrfm-14-00353	PROPN
ajbmeb-2854	43	25	https://www.mdpi.com/1911-8074/14/8/353#b19-jrfm-14-00353	https://www.mdpi.com/1911-8074/14/8/353#b19-jrfm-14-00353	PROPN
ajbmeb-2854	43	26	https://www.mdpi.com/1911-8074/14/8/353#b19-jrfm-14-00353	https://www.mdpi.com/1911-8074/14/8/353#b19-jrfm-14-00353	NOUN
ajbmeb-2854	43	27	https://www.mdpi.com/1911-8074/14/8/353#b28-jrfm-14-00353	https://www.mdpi.com/1911-8074/14/8/353#b28-jrfm-14-00353	PROPN
ajbmeb-2854	43	28	https://www.mdpi.com/1911-8074/14/8/353#b28-jrfm-14-00353	https://www.mdpi.com/1911-8074/14/8/353#b28-jrfm-14-00353	PROPN
ajbmeb-2854	43	29	https://www.scirp.org/journal/paperinformation.aspx?paperid=101899#ref17	https://www.scirp.org/journal/paperinformation.aspx?paperid=101899#ref17	PROPN
ajbmeb-2854	43	30	https://www.scirp.org/journal/paperinformation.aspx?paperid=101899#ref17	https://www.scirp.org/journal/paperinformation.aspx?paperid=101899#ref17	PROPN
ajbmeb-2854	43	31	https://www.scirp.org/journal/paperinformation.aspx?paperid=101899#ref25	https://www.scirp.org/journal/paperinformation.aspx?paperid=101899#ref25	PROPN
ajbmeb-2854	43	32	american	american	PROPN
ajbmeb-2854	43	33	journal	journal	PROPN
ajbmeb-2854	43	34	of	of	ADP
ajbmeb-2854	43	35	business	business	NOUN
ajbmeb-2854	43	36	management	management	NOUN
ajbmeb-2854	43	37	,	,	PUNCT
ajbmeb-2854	43	38	economics	economic	NOUN
ajbmeb-2854	43	39	and	and	CCONJ
ajbmeb-2854	43	40	banking	banking	NOUN
ajbmeb-2854	43	41	volume	volume	NOUN
ajbmeb-2854	43	42	35	35	NUM
ajbmeb-2854	43	43	april	april	PROPN
ajbmeb-2854	43	44	2025	2025	NUM
ajbmeb-2854	43	45	p	p	NOUN
ajbmeb-2854	43	46	a	a	PRON
ajbmeb-2854	43	47	g	g	NOUN
ajbmeb-2854	43	48	e	e	NOUN
ajbmeb-2854	43	49	|	|	ADV
ajbmeb-2854	43	50	46	46	NUM
ajbmeb-2854	43	51	www.americanjournal.org	www.americanjournal.org	NOUN
ajbmeb-2854	43	52	(	(	PUNCT
ajbmeb-2854	43	53	2012	2012	NUM
ajbmeb-2854	43	54	)	)	PUNCT
ajbmeb-2854	43	55	concluded	conclude	VERB
ajbmeb-2854	43	56	that	that	SCONJ
ajbmeb-2854	43	57	dividend	dividend	NOUN
ajbmeb-2854	43	58	payout	payout	NOUN
ajbmeb-2854	43	59	has	have	VERB
ajbmeb-2854	43	60	no	no	DET
ajbmeb-2854	43	61	significant	significant	ADJ
ajbmeb-2854	43	62	impact	impact	NOUN
ajbmeb-2854	43	63	on	on	ADP
ajbmeb-2854	43	64	firm	firm	ADJ
ajbmeb-2854	43	65	share	share	NOUN
ajbmeb-2854	43	66	price.there	price.there	PROPN
ajbmeb-2854	43	67	are	be	AUX
ajbmeb-2854	43	68	other	other	ADJ
ajbmeb-2854	43	69	scholars	scholar	NOUN
ajbmeb-2854	43	70	who	who	PRON
ajbmeb-2854	43	71	hold	hold	VERB
ajbmeb-2854	43	72	that	that	SCONJ
ajbmeb-2854	43	73	dividends	dividend	NOUN
ajbmeb-2854	43	74	are	be	AUX
ajbmeb-2854	43	75	relevant	relevant	ADJ
ajbmeb-2854	43	76	to	to	ADP
ajbmeb-2854	43	77	firm	firm	ADJ
ajbmeb-2854	43	78	value	value	NOUN
ajbmeb-2854	43	79	.	.	PUNCT
ajbmeb-2854	44	1	they	they	PRON
ajbmeb-2854	44	2	include	include	VERB
ajbmeb-2854	44	3	watts	watt	NOUN
ajbmeb-2854	44	4	(	(	PUNCT
ajbmeb-2854	44	5	1973),lintner	1973),lintner	NUM
ajbmeb-2854	44	6	(	(	PUNCT
ajbmeb-2854	44	7	1956	1956	NUM
ajbmeb-2854	44	8	)	)	PUNCT
ajbmeb-2854	44	9	,	,	PUNCT
ajbmeb-2854	44	10	miller	miller	PROPN
ajbmeb-2854	44	11	(	(	PUNCT
ajbmeb-2854	44	12	1987	1987	NUM
ajbmeb-2854	44	13	)	)	PUNCT
ajbmeb-2854	44	14	,	,	PUNCT
ajbmeb-2854	44	15	aharony	aharony	NOUN
ajbmeb-2854	44	16	&	&	CCONJ
ajbmeb-2854	44	17	swary	swary	ADJ
ajbmeb-2854	44	18	(	(	PUNCT
ajbmeb-2854	44	19	1980),asquith	1980),asquith	NUM
ajbmeb-2854	44	20	&	&	CCONJ
ajbmeb-2854	44	21	mullins	mullins	PROPN
ajbmeb-2854	44	22	(	(	PUNCT
ajbmeb-2854	44	23	1983),pettit	1983),pettit	NUM
ajbmeb-2854	44	24	(	(	PUNCT
ajbmeb-2854	44	25	1972),benartzi	1972),benartzi	NUM
ajbmeb-2854	44	26	,	,	PUNCT
ajbmeb-2854	44	27	michealy	michealy	NOUN
ajbmeb-2854	44	28	,	,	PUNCT
ajbmeb-2854	44	29	&	&	CCONJ
ajbmeb-2854	44	30	thaler	thaler	PROPN
ajbmeb-2854	44	31	(	(	PUNCT
ajbmeb-2854	44	32	1997	1997	NUM
ajbmeb-2854	44	33	)	)	PUNCT
ajbmeb-2854	44	34	.	.	PUNCT
ajbmeb-2854	45	1	majanga	majanga	PROPN
ajbmeb-2854	45	2	(	(	PUNCT
ajbmeb-2854	45	3	2015	2015	NUM
ajbmeb-2854	45	4	)	)	PUNCT
ajbmeb-2854	45	5	and	and	CCONJ
ajbmeb-2854	45	6	sharif	sharif	PROPN
ajbmeb-2854	45	7	et	et	PROPN
ajbmeb-2854	45	8	al	al	PROPN
ajbmeb-2854	45	9	.	.	PROPN
ajbmeb-2854	45	10	,	,	PUNCT
ajbmeb-2854	45	11	(	(	PUNCT
ajbmeb-2854	45	12	2011	2011	NUM
ajbmeb-2854	45	13	)	)	PUNCT
ajbmeb-2854	45	14	in	in	ADP
ajbmeb-2854	45	15	the	the	DET
ajbmeb-2854	45	16	study	study	NOUN
ajbmeb-2854	45	17	showed	show	VERB
ajbmeb-2854	45	18	dividend	dividend	NOUN
ajbmeb-2854	45	19	payout	payout	NOUN
ajbmeb-2854	45	20	positively	positively	ADV
ajbmeb-2854	45	21	impacts	impact	VERB
ajbmeb-2854	45	22	share	share	NOUN
ajbmeb-2854	45	23	price	price	NOUN
ajbmeb-2854	45	24	.	.	PUNCT
ajbmeb-2854	46	1	the	the	DET
ajbmeb-2854	46	2	conflicts	conflict	NOUN
ajbmeb-2854	46	3	in	in	ADP
ajbmeb-2854	46	4	theoretical	theoretical	ADJ
ajbmeb-2854	46	5	propositions	proposition	NOUN
ajbmeb-2854	46	6	and	and	CCONJ
ajbmeb-2854	46	7	mixed	mixed	ADJ
ajbmeb-2854	46	8	results	result	NOUN
ajbmeb-2854	46	9	from	from	ADP
ajbmeb-2854	46	10	prior	prior	ADJ
ajbmeb-2854	46	11	studies	study	NOUN
ajbmeb-2854	46	12	create	create	VERB
ajbmeb-2854	46	13	gaps	gap	NOUN
ajbmeb-2854	46	14	for	for	ADP
ajbmeb-2854	46	15	further	further	ADJ
ajbmeb-2854	46	16	studies	study	NOUN
ajbmeb-2854	46	17	on	on	ADP
ajbmeb-2854	46	18	the	the	DET
ajbmeb-2854	46	19	subject	subject	NOUN
ajbmeb-2854	46	20	.	.	PUNCT
ajbmeb-2854	47	1	prior	prior	ADJ
ajbmeb-2854	47	2	studies	study	NOUN
ajbmeb-2854	47	3	in	in	ADP
ajbmeb-2854	47	4	nigeria	nigeria	PROPN
ajbmeb-2854	47	5	failed	fail	VERB
ajbmeb-2854	47	6	to	to	PART
ajbmeb-2854	47	7	consider	consider	VERB
ajbmeb-2854	47	8	the	the	DET
ajbmeb-2854	47	9	peculiar	peculiar	ADJ
ajbmeb-2854	47	10	nigerian	nigerian	ADJ
ajbmeb-2854	47	11	situation	situation	NOUN
ajbmeb-2854	47	12	with	with	ADP
ajbmeb-2854	47	13	galloping	gallop	VERB
ajbmeb-2854	47	14	inflation	inflation	NOUN
ajbmeb-2854	47	15	which	which	PRON
ajbmeb-2854	47	16	could	could	AUX
ajbmeb-2854	47	17	impact	impact	VERB
ajbmeb-2854	47	18	firm	firm	ADJ
ajbmeb-2854	47	19	value	value	NOUN
ajbmeb-2854	47	20	.	.	PUNCT
ajbmeb-2854	48	1	this	this	DET
ajbmeb-2854	48	2	study	study	NOUN
ajbmeb-2854	48	3	fills	fill	VERB
ajbmeb-2854	48	4	that	that	DET
ajbmeb-2854	48	5	gap	gap	NOUN
ajbmeb-2854	48	6	and	and	CCONJ
ajbmeb-2854	48	7	consider	consider	VERB
ajbmeb-2854	48	8	dividend	dividend	NOUN
ajbmeb-2854	48	9	payout	payout	NOUN
ajbmeb-2854	48	10	,	,	PUNCT
ajbmeb-2854	48	11	macroeconomic	macroeconomic	ADJ
ajbmeb-2854	48	12	factor	factor	NOUN
ajbmeb-2854	48	13	and	and	CCONJ
ajbmeb-2854	48	14	its	its	PRON
ajbmeb-2854	48	15	impact	impact	NOUN
ajbmeb-2854	48	16	on	on	ADP
ajbmeb-2854	48	17	firm	firm	ADJ
ajbmeb-2854	48	18	value	value	NOUN
ajbmeb-2854	48	19	.	.	PUNCT
ajbmeb-2854	49	1	therefore	therefore	ADV
ajbmeb-2854	49	2	,	,	PUNCT
ajbmeb-2854	49	3	the	the	DET
ajbmeb-2854	49	4	aim	aim	NOUN
ajbmeb-2854	49	5	of	of	ADP
ajbmeb-2854	49	6	the	the	DET
ajbmeb-2854	49	7	study	study	NOUN
ajbmeb-2854	49	8	is	be	AUX
ajbmeb-2854	49	9	to	to	PART
ajbmeb-2854	49	10	ascertain	ascertain	VERB
ajbmeb-2854	49	11	the	the	DET
ajbmeb-2854	49	12	effect	effect	NOUN
ajbmeb-2854	49	13	of	of	ADP
ajbmeb-2854	49	14	dividend	dividend	NOUN
ajbmeb-2854	49	15	and	and	CCONJ
ajbmeb-2854	49	16	inflation	inflation	NOUN
ajbmeb-2854	49	17	on	on	ADP
ajbmeb-2854	49	18	firm	firm	ADJ
ajbmeb-2854	49	19	value	value	NOUN
ajbmeb-2854	49	20	literature	literature	NOUN
ajbmeb-2854	49	21	review	review	VERB
ajbmeb-2854	49	22	theoretical	theoretical	ADJ
ajbmeb-2854	49	23	framework	framework	NOUN
ajbmeb-2854	49	24	many	many	ADJ
ajbmeb-2854	49	25	theoretical	theoretical	ADJ
ajbmeb-2854	49	26	propositions	proposition	NOUN
ajbmeb-2854	49	27	have	have	AUX
ajbmeb-2854	49	28	been	be	AUX
ajbmeb-2854	49	29	made	make	VERB
ajbmeb-2854	49	30	in	in	ADP
ajbmeb-2854	49	31	finance	finance	NOUN
ajbmeb-2854	49	32	literature	literature	NOUN
ajbmeb-2854	49	33	to	to	PART
ajbmeb-2854	49	34	explain	explain	VERB
ajbmeb-2854	49	35	the	the	DET
ajbmeb-2854	49	36	concept	concept	NOUN
ajbmeb-2854	49	37	of	of	ADP
ajbmeb-2854	49	38	firm	firm	NOUN
ajbmeb-2854	49	39	and	and	CCONJ
ajbmeb-2854	49	40	what	what	PRON
ajbmeb-2854	49	41	determines	determine	VERB
ajbmeb-2854	49	42	its	its	PRON
ajbmeb-2854	49	43	value	value	NOUN
ajbmeb-2854	49	44	.	.	PUNCT
ajbmeb-2854	50	1	modigliani	modigliani	PROPN
ajbmeb-2854	50	2	and	and	CCONJ
ajbmeb-2854	50	3	miller	miller	PROPN
ajbmeb-2854	50	4	(	(	PUNCT
ajbmeb-2854	50	5	1958	1958	NUM
ajbmeb-2854	50	6	)	)	PUNCT
ajbmeb-2854	50	7	through	through	ADP
ajbmeb-2854	50	8	the	the	DET
ajbmeb-2854	50	9	irrelevance	irrelevance	NOUN
ajbmeb-2854	50	10	of	of	ADP
ajbmeb-2854	50	11	capital	capital	NOUN
ajbmeb-2854	50	12	structure	structure	NOUN
ajbmeb-2854	50	13	proposed	propose	VERB
ajbmeb-2854	50	14	that	that	SCONJ
ajbmeb-2854	50	15	the	the	DET
ajbmeb-2854	50	16	funding	funding	NOUN
ajbmeb-2854	50	17	arrangement	arrangement	NOUN
ajbmeb-2854	50	18	of	of	ADP
ajbmeb-2854	50	19	a	a	DET
ajbmeb-2854	50	20	firm	firm	NOUN
ajbmeb-2854	50	21	does	do	AUX
ajbmeb-2854	50	22	not	not	PART
ajbmeb-2854	50	23	impact	impact	VERB
ajbmeb-2854	50	24	the	the	DET
ajbmeb-2854	50	25	value	value	NOUN
ajbmeb-2854	50	26	of	of	ADP
ajbmeb-2854	50	27	the	the	DET
ajbmeb-2854	50	28	firm	firm	NOUN
ajbmeb-2854	50	29	.	.	PUNCT
ajbmeb-2854	51	1	this	this	PRON
ajbmeb-2854	51	2	implies	imply	VERB
ajbmeb-2854	51	3	that	that	SCONJ
ajbmeb-2854	51	4	equity	equity	NOUN
ajbmeb-2854	51	5	finance	finance	NOUN
ajbmeb-2854	51	6	and	and	CCONJ
ajbmeb-2854	51	7	borrowing	borrowing	NOUN
ajbmeb-2854	51	8	have	have	VERB
ajbmeb-2854	51	9	no	no	DET
ajbmeb-2854	51	10	influence	influence	NOUN
ajbmeb-2854	51	11	on	on	ADP
ajbmeb-2854	51	12	the	the	DET
ajbmeb-2854	51	13	value	value	NOUN
ajbmeb-2854	51	14	of	of	ADP
ajbmeb-2854	51	15	a	a	DET
ajbmeb-2854	51	16	firm	firm	NOUN
ajbmeb-2854	51	17	.	.	PUNCT
ajbmeb-2854	52	1	this	this	DET
ajbmeb-2854	52	2	line	line	NOUN
ajbmeb-2854	52	3	of	of	ADP
ajbmeb-2854	52	4	argument	argument	NOUN
ajbmeb-2854	52	5	was	be	AUX
ajbmeb-2854	52	6	extended	extend	VERB
ajbmeb-2854	52	7	by	by	ADP
ajbmeb-2854	52	8	the	the	DET
ajbmeb-2854	52	9	authors	author	NOUN
ajbmeb-2854	52	10	(	(	PUNCT
ajbmeb-2854	52	11	modigliani	modigliani	PROPN
ajbmeb-2854	52	12	and	and	CCONJ
ajbmeb-2854	52	13	miller	miller	PROPN
ajbmeb-2854	52	14	(	(	PUNCT
ajbmeb-2854	52	15	1961	1961	NUM
ajbmeb-2854	52	16	)	)	PUNCT
ajbmeb-2854	52	17	that	that	PRON
ajbmeb-2854	52	18	dividend	dividend	VERB
ajbmeb-2854	52	19	payout	payout	NOUN
ajbmeb-2854	52	20	policy	policy	NOUN
ajbmeb-2854	52	21	does	do	AUX
ajbmeb-2854	52	22	not	not	PART
ajbmeb-2854	52	23	affect	affect	VERB
ajbmeb-2854	52	24	firm	firm	ADJ
ajbmeb-2854	52	25	value	value	NOUN
ajbmeb-2854	52	26	.	.	PUNCT
ajbmeb-2854	53	1	the	the	DET
ajbmeb-2854	53	2	pecking	pecking	NOUN
ajbmeb-2854	53	3	order	order	NOUN
ajbmeb-2854	53	4	theory	theory	NOUN
ajbmeb-2854	53	5	by	by	ADP
ajbmeb-2854	53	6	donaldson	donaldson	PROPN
ajbmeb-2854	53	7	(	(	PUNCT
ajbmeb-2854	53	8	1961	1961	NUM
ajbmeb-2854	53	9	)	)	PUNCT
ajbmeb-2854	53	10	and	and	CCONJ
ajbmeb-2854	53	11	modified	modify	VERB
ajbmeb-2854	53	12	by	by	ADP
ajbmeb-2854	53	13	myers	myer	NOUN
ajbmeb-2854	53	14	and	and	CCONJ
ajbmeb-2854	53	15	majluf	majluf	PROPN
ajbmeb-2854	53	16	(	(	PUNCT
ajbmeb-2854	53	17	1984)specifies	1984)specifie	NOUN
ajbmeb-2854	53	18	that	that	PRON
ajbmeb-2854	53	19	managers	manager	NOUN
ajbmeb-2854	53	20	follow	follow	VERB
ajbmeb-2854	53	21	a	a	DET
ajbmeb-2854	53	22	hierarchy	hierarchy	NOUN
ajbmeb-2854	53	23	in	in	ADP
ajbmeb-2854	53	24	financing	financing	NOUN
ajbmeb-2854	53	25	and	and	CCONJ
ajbmeb-2854	53	26	funding	funding	NOUN
ajbmeb-2854	53	27	decisions	decision	NOUN
ajbmeb-2854	53	28	as	as	SCONJ
ajbmeb-2854	53	29	internal	internal	ADJ
ajbmeb-2854	53	30	finance	finance	NOUN
ajbmeb-2854	53	31	is	be	AUX
ajbmeb-2854	53	32	cheaper	cheap	ADJ
ajbmeb-2854	53	33	and	and	CCONJ
ajbmeb-2854	53	34	convenient	convenient	ADJ
ajbmeb-2854	53	35	.	.	PUNCT
ajbmeb-2854	53	36	.	.	PUNCT
ajbmeb-2854	54	1	the	the	DET
ajbmeb-2854	54	2	theory	theory	NOUN
ajbmeb-2854	54	3	is	be	AUX
ajbmeb-2854	54	4	rooted	root	VERB
ajbmeb-2854	54	5	on	on	ADP
ajbmeb-2854	54	6	information	information	NOUN
ajbmeb-2854	54	7	asymmetry	asymmetry	NOUN
ajbmeb-2854	54	8	as	as	ADP
ajbmeb-2854	54	9	cause	cause	NOUN
ajbmeb-2854	54	10	of	of	ADP
ajbmeb-2854	54	11	imbalance	imbalance	NOUN
ajbmeb-2854	54	12	in	in	ADP
ajbmeb-2854	54	13	transaction	transaction	NOUN
ajbmeb-2854	54	14	power	power	NOUN
ajbmeb-2854	54	15	.	.	PUNCT
ajbmeb-2854	55	1	firm	firm	ADJ
ajbmeb-2854	55	2	managers	manager	NOUN
ajbmeb-2854	55	3	have	have	VERB
ajbmeb-2854	55	4	privileged	privileged	ADJ
ajbmeb-2854	55	5	and	and	CCONJ
ajbmeb-2854	55	6	superior	superior	ADJ
ajbmeb-2854	55	7	information	information	NOUN
ajbmeb-2854	55	8	on	on	ADP
ajbmeb-2854	55	9	performance	performance	NOUN
ajbmeb-2854	55	10	,	,	PUNCT
ajbmeb-2854	55	11	risks	risk	NOUN
ajbmeb-2854	55	12	,	,	PUNCT
ajbmeb-2854	55	13	prospects	prospect	NOUN
ajbmeb-2854	55	14	and	and	CCONJ
ajbmeb-2854	55	15	future	future	ADJ
ajbmeb-2854	55	16	potentials	potential	NOUN
ajbmeb-2854	55	17	better	well	ADV
ajbmeb-2854	55	18	than	than	ADP
ajbmeb-2854	55	19	external	external	ADJ
ajbmeb-2854	55	20	stakeholders	stakeholder	NOUN
ajbmeb-2854	55	21	such	such	ADJ
ajbmeb-2854	55	22	as	as	ADP
ajbmeb-2854	55	23	investors	investor	NOUN
ajbmeb-2854	55	24	and	and	CCONJ
ajbmeb-2854	55	25	creditors	creditor	NOUN
ajbmeb-2854	55	26	.	.	PUNCT
ajbmeb-2854	56	1	therefore	therefore	ADV
ajbmeb-2854	56	2	,	,	PUNCT
ajbmeb-2854	56	3	to	to	PART
ajbmeb-2854	56	4	compensate	compensate	VERB
ajbmeb-2854	56	5	for	for	ADP
ajbmeb-2854	56	6	information	information	NOUN
ajbmeb-2854	56	7	asymmetry	asymmetry	NOUN
ajbmeb-2854	56	8	,	,	PUNCT
ajbmeb-2854	56	9	external	external	ADJ
ajbmeb-2854	56	10	information	information	NOUN
ajbmeb-2854	56	11	users	user	NOUN
ajbmeb-2854	56	12	require	require	VERB
ajbmeb-2854	56	13	higher	high	ADJ
ajbmeb-2854	56	14	returns	return	NOUN
ajbmeb-2854	56	15	to	to	PART
ajbmeb-2854	56	16	mitigate	mitigate	VERB
ajbmeb-2854	56	17	the	the	DET
ajbmeb-2854	56	18	risk	risk	NOUN
ajbmeb-2854	56	19	taken	take	VERB
ajbmeb-2854	56	20	.	.	PUNCT
ajbmeb-2854	57	1	according	accord	VERB
ajbmeb-2854	57	2	to	to	ADP
ajbmeb-2854	57	3	myers	myers	PROPN
ajbmeb-2854	57	4	&	&	CCONJ
ajbmeb-2854	57	5	majluf	majluf	PROPN
ajbmeb-2854	57	6	(	(	PUNCT
ajbmeb-2854	57	7	1984	1984	NUM
ajbmeb-2854	57	8	)	)	PUNCT
ajbmeb-2854	57	9	the	the	DET
ajbmeb-2854	57	10	market	market	NOUN
ajbmeb-2854	57	11	will	will	AUX
ajbmeb-2854	57	12	attach	attach	VERB
ajbmeb-2854	57	13	no	no	DET
ajbmeb-2854	57	14	significance	significance	NOUN
ajbmeb-2854	57	15	to	to	ADP
ajbmeb-2854	57	16	the	the	DET
ajbmeb-2854	57	17	issue	issue	NOUN
ajbmeb-2854	57	18	of	of	ADP
ajbmeb-2854	57	19	new	new	ADJ
ajbmeb-2854	57	20	equity	equity	NOUN
ajbmeb-2854	57	21	.	.	PUNCT
ajbmeb-2854	58	1	in	in	ADP
ajbmeb-2854	58	2	the	the	DET
ajbmeb-2854	58	3	presence	presence	NOUN
ajbmeb-2854	58	4	of	of	ADP
ajbmeb-2854	58	5	asymmetric	asymmetric	ADJ
ajbmeb-2854	58	6	information	information	NOUN
ajbmeb-2854	58	7	,	,	PUNCT
ajbmeb-2854	58	8	the	the	DET
ajbmeb-2854	58	9	firm	firm	NOUN
ajbmeb-2854	58	10	may	may	AUX
ajbmeb-2854	58	11	sometimes	sometimes	ADV
ajbmeb-2854	58	12	pass	pass	VERB
ajbmeb-2854	58	13	up	up	ADP
ajbmeb-2854	58	14	a	a	DET
ajbmeb-2854	58	15	positive	positive	ADJ
ajbmeb-2854	58	16	npv	npv	NOUN
ajbmeb-2854	58	17	project	project	NOUN
ajbmeb-2854	58	18	as	as	SCONJ
ajbmeb-2854	58	19	the	the	DET
ajbmeb-2854	58	20	market	market	NOUN
ajbmeb-2854	58	21	does	do	AUX
ajbmeb-2854	58	22	not	not	PART
ajbmeb-2854	58	23	value	value	VERB
ajbmeb-2854	58	24	the	the	DET
ajbmeb-2854	58	25	project	project	NOUN
ajbmeb-2854	58	26	as	as	SCONJ
ajbmeb-2854	58	27	the	the	DET
ajbmeb-2854	58	28	owners	owner	NOUN
ajbmeb-2854	58	29	do	do	VERB
ajbmeb-2854	58	30	and	and	CCONJ
ajbmeb-2854	58	31	is	be	AUX
ajbmeb-2854	58	32	unwilling	unwilling	ADJ
ajbmeb-2854	58	33	to	to	PART
ajbmeb-2854	58	34	make	make	VERB
ajbmeb-2854	58	35	capital	capital	NOUN
ajbmeb-2854	58	36	available	available	ADJ
ajbmeb-2854	58	37	at	at	ADP
ajbmeb-2854	58	38	its	its	PRON
ajbmeb-2854	58	39	true	true	ADJ
ajbmeb-2854	58	40	risk	risk	NOUN
ajbmeb-2854	58	41	-	-	PUNCT
ajbmeb-2854	58	42	adjusted	adjust	VERB
ajbmeb-2854	58	43	cost	cost	NOUN
ajbmeb-2854	58	44	to	to	ADP
ajbmeb-2854	58	45	the	the	DET
ajbmeb-2854	58	46	firm	firm	NOUN
ajbmeb-2854	58	47	.	.	PUNCT
ajbmeb-2854	59	1	this	this	DET
ajbmeb-2854	59	2	restriction	restriction	NOUN
ajbmeb-2854	59	3	is	be	AUX
ajbmeb-2854	59	4	therefore	therefore	ADV
ajbmeb-2854	59	5	circumvented	circumvent	VERB
ajbmeb-2854	59	6	by	by	ADP
ajbmeb-2854	59	7	the	the	DET
ajbmeb-2854	59	8	owners	owner	NOUN
ajbmeb-2854	59	9	by	by	ADP
ajbmeb-2854	59	10	taking	take	VERB
ajbmeb-2854	59	11	recourse	recourse	NOUN
ajbmeb-2854	59	12	to	to	ADP
ajbmeb-2854	59	13	internal	internal	ADJ
ajbmeb-2854	59	14	financing	financing	NOUN
ajbmeb-2854	59	15	.	.	PUNCT
ajbmeb-2854	60	1	this	this	PRON
ajbmeb-2854	60	2	shows	show	VERB
ajbmeb-2854	60	3	that	that	SCONJ
ajbmeb-2854	60	4	existing	exist	VERB
ajbmeb-2854	60	5	shareholders	shareholder	NOUN
ajbmeb-2854	60	6	will	will	AUX
ajbmeb-2854	60	7	prefer	prefer	VERB
ajbmeb-2854	60	8	to	to	PART
ajbmeb-2854	60	9	use	use	VERB
ajbmeb-2854	60	10	available	available	ADJ
ajbmeb-2854	60	11	liquid	liquid	ADJ
ajbmeb-2854	60	12	assets	asset	NOUN
ajbmeb-2854	60	13	to	to	PART
ajbmeb-2854	60	14	finance	finance	VERB
ajbmeb-2854	60	15	positive	positive	ADJ
ajbmeb-2854	60	16	npv	npv	NOUN
ajbmeb-2854	60	17	projects	project	NOUN
ajbmeb-2854	60	18	rather	rather	ADV
ajbmeb-2854	60	19	than	than	ADP
ajbmeb-2854	60	20	going	go	VERB
ajbmeb-2854	60	21	in	in	ADP
ajbmeb-2854	60	22	for	for	ADP
ajbmeb-2854	60	23	equity	equity	NOUN
ajbmeb-2854	60	24	through	through	ADP
ajbmeb-2854	60	25	new	new	ADJ
ajbmeb-2854	60	26	shares	share	NOUN
ajbmeb-2854	60	27	offering	offering	NOUN
ajbmeb-2854	60	28	.	.	PUNCT
ajbmeb-2854	61	1	further	far	ADV
ajbmeb-2854	61	2	,	,	PUNCT
ajbmeb-2854	61	3	in	in	ADP
ajbmeb-2854	61	4	a	a	DET
ajbmeb-2854	61	5	situation	situation	NOUN
ajbmeb-2854	61	6	where	where	SCONJ
ajbmeb-2854	61	7	external	external	ADJ
ajbmeb-2854	61	8	financing	financing	NOUN
ajbmeb-2854	61	9	is	be	AUX
ajbmeb-2854	61	10	essential	essential	ADJ
ajbmeb-2854	61	11	,	,	PUNCT
ajbmeb-2854	61	12	debt	debt	NOUN
ajbmeb-2854	61	13	is	be	AUX
ajbmeb-2854	61	14	perceived	perceive	VERB
ajbmeb-2854	61	15	by	by	ADP
ajbmeb-2854	61	16	the	the	DET
ajbmeb-2854	61	17	firm	firm	NOUN
ajbmeb-2854	61	18	to	to	PART
ajbmeb-2854	61	19	be	be	AUX
ajbmeb-2854	61	20	safer	safe	ADJ
ajbmeb-2854	61	21	than	than	ADP
ajbmeb-2854	61	22	equity	equity	NOUN
ajbmeb-2854	61	23	,	,	PUNCT
ajbmeb-2854	61	24	since	since	SCONJ
ajbmeb-2854	61	25	its	its	PRON
ajbmeb-2854	61	26	market	market	NOUN
ajbmeb-2854	61	27	value	value	NOUN
ajbmeb-2854	61	28	does	do	AUX
ajbmeb-2854	61	29	not	not	PART
ajbmeb-2854	61	30	change	change	VERB
ajbmeb-2854	61	31	much	much	ADV
ajbmeb-2854	61	32	over	over	ADP
ajbmeb-2854	61	33	time	time	NOUN
ajbmeb-2854	61	34	.	.	PUNCT
ajbmeb-2854	62	1	titman	titman	PROPN
ajbmeb-2854	62	2	&	&	CCONJ
ajbmeb-2854	62	3	wessels	wessels	PROPN
ajbmeb-2854	62	4	(	(	PUNCT
ajbmeb-2854	62	5	1985	1985	NUM
ajbmeb-2854	62	6	)	)	PUNCT
ajbmeb-2854	62	7	study	study	NOUN
ajbmeb-2854	62	8	shows	show	VERB
ajbmeb-2854	62	9	that	that	SCONJ
ajbmeb-2854	62	10	more	more	ADV
ajbmeb-2854	62	11	profitable	profitable	ADJ
ajbmeb-2854	62	12	firms	firm	NOUN
ajbmeb-2854	62	13	will	will	AUX
ajbmeb-2854	62	14	tend	tend	VERB
ajbmeb-2854	62	15	to	to	PART
ajbmeb-2854	62	16	use	use	VERB
ajbmeb-2854	62	17	less	less	ADJ
ajbmeb-2854	62	18	external	external	ADJ
ajbmeb-2854	62	19	financing	financing	NOUN
ajbmeb-2854	62	20	and	and	CCONJ
ajbmeb-2854	62	21	provides	provide	VERB
ajbmeb-2854	62	22	support	support	NOUN
ajbmeb-2854	62	23	for	for	ADP
ajbmeb-2854	62	24	the	the	DET
ajbmeb-2854	62	25	pecking	pecking	NOUN
ajbmeb-2854	62	26	order	order	NOUN
ajbmeb-2854	62	27	theory	theory	NOUN
ajbmeb-2854	62	28	.	.	PUNCT
ajbmeb-2854	63	1	event	event	NOUN
ajbmeb-2854	63	2	studies	study	NOUN
ajbmeb-2854	63	3	show	show	VERB
ajbmeb-2854	63	4	that	that	SCONJ
ajbmeb-2854	63	5	issue	issue	NOUN
ajbmeb-2854	63	6	of	of	ADP
ajbmeb-2854	63	7	equity	equity	NOUN
ajbmeb-2854	63	8	is	be	AUX
ajbmeb-2854	63	9	interpreted	interpret	VERB
ajbmeb-2854	63	10	as	as	ADP
ajbmeb-2854	63	11	bad	bad	ADJ
ajbmeb-2854	63	12	news	news	NOUN
ajbmeb-2854	63	13	by	by	ADP
ajbmeb-2854	63	14	the	the	DET
ajbmeb-2854	63	15	market	market	NOUN
ajbmeb-2854	63	16	,	,	PUNCT
ajbmeb-2854	63	17	with	with	ADP
ajbmeb-2854	63	18	significantly	significantly	ADV
ajbmeb-2854	63	19	negative	negative	ADJ
ajbmeb-2854	63	20	announcement	announcement	NOUN
ajbmeb-2854	63	21	date	date	NOUN
ajbmeb-2854	63	22	effects	effect	NOUN
ajbmeb-2854	63	23	on	on	ADP
ajbmeb-2854	63	24	equity	equity	NOUN
ajbmeb-2854	63	25	prices	price	NOUN
ajbmeb-2854	63	26	.	.	PUNCT
ajbmeb-2854	64	1	thus	thus	ADV
ajbmeb-2854	64	2	,	,	PUNCT
ajbmeb-2854	64	3	pecking	pecking	NOUN
ajbmeb-2854	64	4	order	order	NOUN
ajbmeb-2854	64	5	theory	theory	NOUN
ajbmeb-2854	64	6	confirms	confirm	VERB
ajbmeb-2854	64	7	that	that	SCONJ
ajbmeb-2854	64	8	dividend	dividend	NOUN
ajbmeb-2854	64	9	policy	policy	NOUN
ajbmeb-2854	64	10	affects	affect	VERB
ajbmeb-2854	64	11	value	value	NOUN
ajbmeb-2854	64	12	of	of	ADP
ajbmeb-2854	64	13	the	the	DET
ajbmeb-2854	64	14	firm	firm	NOUN
ajbmeb-2854	64	15	as	as	SCONJ
ajbmeb-2854	64	16	investors	investor	NOUN
ajbmeb-2854	64	17	prefer	prefer	VERB
ajbmeb-2854	64	18	internal	internal	ADJ
ajbmeb-2854	64	19	financing	financing	NOUN
ajbmeb-2854	64	20	rather	rather	ADV
ajbmeb-2854	64	21	than	than	ADP
ajbmeb-2854	64	22	equity	equity	NOUN
ajbmeb-2854	64	23	.	.	PUNCT
ajbmeb-2854	65	1	low	low	ADJ
ajbmeb-2854	65	2	payout	payout	NOUN
ajbmeb-2854	65	3	is	be	AUX
ajbmeb-2854	65	4	synonymous	synonymous	ADJ
ajbmeb-2854	65	5	with	with	ADP
ajbmeb-2854	65	6	high	high	ADJ
ajbmeb-2854	65	7	retention	retention	NOUN
ajbmeb-2854	65	8	of	of	ADP
ajbmeb-2854	65	9	funds	fund	NOUN
ajbmeb-2854	65	10	instead	instead	ADV
ajbmeb-2854	65	11	of	of	ADP
ajbmeb-2854	65	12	equity	equity	NOUN
ajbmeb-2854	65	13	financing	financing	NOUN
ajbmeb-2854	65	14	.	.	PUNCT
ajbmeb-2854	66	1	behavioral	behavioral	ADJ
ajbmeb-2854	66	2	theory	theory	NOUN
ajbmeb-2854	66	3	explained	explain	VERB
ajbmeb-2854	66	4	that	that	SCONJ
ajbmeb-2854	66	5	investors	investor	NOUN
ajbmeb-2854	66	6	are	be	AUX
ajbmeb-2854	66	7	attracted	attract	VERB
ajbmeb-2854	66	8	to	to	PART
ajbmeb-2854	66	9	dividend	dividend	VERB
ajbmeb-2854	66	10	because	because	SCONJ
ajbmeb-2854	66	11	of	of	ADP
ajbmeb-2854	66	12	different	different	ADJ
ajbmeb-2854	66	13	behavioral	behavioral	ADJ
ajbmeb-2854	66	14	factors	factor	NOUN
ajbmeb-2854	66	15	such	such	ADJ
ajbmeb-2854	66	16	as	as	ADP
ajbmeb-2854	66	17	age	age	NOUN
ajbmeb-2854	66	18	,	,	PUNCT
ajbmeb-2854	66	19	retirement	retirement	NOUN
ajbmeb-2854	66	20	status	status	NOUN
ajbmeb-2854	66	21	,	,	PUNCT
ajbmeb-2854	66	22	income	income	NOUN
ajbmeb-2854	66	23	and	and	CCONJ
ajbmeb-2854	66	24	these	these	DET
ajbmeb-2854	66	25	demographic	demographic	ADJ
ajbmeb-2854	66	26	factors	factor	NOUN
ajbmeb-2854	66	27	may	may	AUX
ajbmeb-2854	66	28	determine	determine	VERB
ajbmeb-2854	66	29	investors	investor	NOUN
ajbmeb-2854	66	30	’	’	PART
ajbmeb-2854	66	31	preferences	preference	NOUN
ajbmeb-2854	66	32	.	.	PUNCT
ajbmeb-2854	67	1	in	in	ADP
ajbmeb-2854	67	2	furtherance	furtherance	NOUN
ajbmeb-2854	67	3	of	of	ADP
ajbmeb-2854	67	4	this	this	DET
ajbmeb-2854	67	5	behavioral	behavioral	ADJ
ajbmeb-2854	67	6	theory	theory	NOUN
ajbmeb-2854	67	7	,	,	PUNCT
ajbmeb-2854	67	8	shefrin	shefrin	NOUN
ajbmeb-2854	67	9	(	(	PUNCT
ajbmeb-2854	67	10	2010	2010	NUM
ajbmeb-2854	67	11	)	)	PUNCT
ajbmeb-2854	67	12	asserted	assert	VERB
ajbmeb-2854	67	13	that	that	SCONJ
ajbmeb-2854	67	14	low	low	ADJ
ajbmeb-2854	67	15	level	level	NOUN
ajbmeb-2854	67	16	income	income	NOUN
ajbmeb-2854	67	17	households	household	NOUN
ajbmeb-2854	67	18	,	,	PUNCT
ajbmeb-2854	67	19	older	old	ADJ
ajbmeb-2854	67	20	and	and	CCONJ
ajbmeb-2854	67	21	retired	retired	ADJ
ajbmeb-2854	67	22	persons	person	NOUN
ajbmeb-2854	67	23	prefer	prefer	VERB
ajbmeb-2854	67	24	firms	firm	NOUN
ajbmeb-2854	67	25	with	with	ADP
ajbmeb-2854	67	26	high	high	ADJ
ajbmeb-2854	67	27	dividend	dividend	NOUN
ajbmeb-2854	67	28	payout	payout	NOUN
ajbmeb-2854	67	29	while	while	SCONJ
ajbmeb-2854	67	30	young	young	ADJ
ajbmeb-2854	67	31	investors	investor	NOUN
ajbmeb-2854	67	32	with	with	ADP
ajbmeb-2854	67	33	moderate	moderate	ADJ
ajbmeb-2854	67	34	tohigh	tohigh	ADJ
ajbmeb-2854	67	35	income	income	NOUN
ajbmeb-2854	67	36	bracket	bracket	NOUN
ajbmeb-2854	67	37	do	do	AUX
ajbmeb-2854	67	38	not	not	PART
ajbmeb-2854	67	39	show	show	VERB
ajbmeb-2854	67	40	much	much	ADJ
ajbmeb-2854	67	41	preference	preference	NOUN
ajbmeb-2854	67	42	to	to	ADP
ajbmeb-2854	67	43	high	high	ADJ
ajbmeb-2854	67	44	dividend	dividend	NOUN
ajbmeb-2854	67	45	paying	pay	VERB
ajbmeb-2854	67	46	firms.the	firms.the	DET
ajbmeb-2854	67	47	agency	agency	NOUN
ajbmeb-2854	67	48	cost	cost	NOUN
ajbmeb-2854	67	49	theory	theory	NOUN
ajbmeb-2854	67	50	suggests	suggest	VERB
ajbmeb-2854	67	51	that	that	SCONJ
ajbmeb-2854	67	52	,	,	PUNCT
ajbmeb-2854	67	53	dividend	dividend	NOUN
ajbmeb-2854	67	54	policy	policy	NOUN
ajbmeb-2854	67	55	is	be	AUX
ajbmeb-2854	67	56	determined	determine	VERB
ajbmeb-2854	67	57	by	by	ADP
ajbmeb-2854	67	58	agency	agency	NOUN
ajbmeb-2854	67	59	costs	cost	NOUN
ajbmeb-2854	67	60	arising	arise	VERB
ajbmeb-2854	67	61	from	from	ADP
ajbmeb-2854	67	62	the	the	DET
ajbmeb-2854	67	63	divergence	divergence	NOUN
ajbmeb-2854	67	64	of	of	ADP
ajbmeb-2854	67	65	ownership	ownership	NOUN
ajbmeb-2854	67	66	and	and	CCONJ
ajbmeb-2854	67	67	control	control	NOUN
ajbmeb-2854	67	68	.	.	PUNCT
ajbmeb-2854	68	1	managers	manager	NOUN
ajbmeb-2854	68	2	may	may	AUX
ajbmeb-2854	68	3	not	not	PART
ajbmeb-2854	68	4	always	always	ADV
ajbmeb-2854	68	5	adopt	adopt	VERB
ajbmeb-2854	68	6	a	a	DET
ajbmeb-2854	68	7	https://www.scirp.org/journal/paperinformation.aspx?paperid=101899#ref44	https://www.scirp.org/journal/paperinformation.aspx?paperid=101899#ref44	NOUN
ajbmeb-2854	68	8	https://www.scirp.org/journal/paperinformation.aspx?paperid=101899#ref26	https://www.scirp.org/journal/paperinformation.aspx?paperid=101899#ref26	ADV
ajbmeb-2854	68	9	https://www.scirp.org/journal/paperinformation.aspx?paperid=101899#ref3	https://www.scirp.org/journal/paperinformation.aspx?paperid=101899#ref3	NOUN
ajbmeb-2854	68	10	https://www.scirp.org/journal/paperinformation.aspx?paperid=101899#ref7	https://www.scirp.org/journal/paperinformation.aspx?paperid=101899#ref7	NOUN
ajbmeb-2854	68	11	https://www.scirp.org/journal/paperinformation.aspx?paperid=101899#ref36	https://www.scirp.org/journal/paperinformation.aspx?paperid=101899#ref36	NOUN
ajbmeb-2854	68	12	https://www.scirp.org/journal/paperinformation.aspx?paperid=101899#ref10	https://www.scirp.org/journal/paperinformation.aspx?paperid=101899#ref10	VERB
ajbmeb-2854	68	13	https://www.scirp.org/journal/paperinformation.aspx?paperid=101899#ref10	https://www.scirp.org/journal/paperinformation.aspx?paperid=101899#ref10	ADJ
ajbmeb-2854	68	14	https://www.mdpi.com/1911-8074/14/8/353#b8-jrfm-14-00353	https://www.mdpi.com/1911-8074/14/8/353#b8-jrfm-14-00353	PROPN
ajbmeb-2854	68	15	https://www.mdpi.com/1911-8074/14/8/353#b8-jrfm-14-00353	https://www.mdpi.com/1911-8074/14/8/353#b8-jrfm-14-00353	NOUN
ajbmeb-2854	68	16	https://www.mdpi.com/1911-8074/14/8/353#b25-jrfm-14-00353	https://www.mdpi.com/1911-8074/14/8/353#b25-jrfm-14-00353	PROPN
ajbmeb-2854	68	17	https://www.mdpi.com/1911-8074/14/8/353#b25-jrfm-14-00353	https://www.mdpi.com/1911-8074/14/8/353#b25-jrfm-14-00353	PROPN
ajbmeb-2854	68	18	american	american	PROPN
ajbmeb-2854	68	19	journal	journal	PROPN
ajbmeb-2854	68	20	of	of	ADP
ajbmeb-2854	68	21	business	business	NOUN
ajbmeb-2854	68	22	management	management	NOUN
ajbmeb-2854	68	23	,	,	PUNCT
ajbmeb-2854	68	24	economics	economic	NOUN
ajbmeb-2854	68	25	and	and	CCONJ
ajbmeb-2854	68	26	banking	banking	NOUN
ajbmeb-2854	68	27	volume	volume	NOUN
ajbmeb-2854	68	28	35	35	NUM
ajbmeb-2854	68	29	april	april	PROPN
ajbmeb-2854	68	30	2025	2025	NUM
ajbmeb-2854	68	31	p	p	NOUN
ajbmeb-2854	68	32	a	a	DET
ajbmeb-2854	68	33	g	g	NOUN
ajbmeb-2854	68	34	e	e	NOUN
ajbmeb-2854	68	35	|	|	ADV
ajbmeb-2854	68	36	47	47	NUM
ajbmeb-2854	68	37	www.americanjournal.org	www.americanjournal.org	NOUN
ajbmeb-2854	68	38	dividend	dividend	NOUN
ajbmeb-2854	68	39	policy	policy	NOUN
ajbmeb-2854	68	40	that	that	PRON
ajbmeb-2854	68	41	is	be	AUX
ajbmeb-2854	68	42	value	value	NOUN
ajbmeb-2854	68	43	-maximizing	-maximizing	NOUN
ajbmeb-2854	68	44	for	for	ADP
ajbmeb-2854	68	45	shareholders	shareholder	NOUN
ajbmeb-2854	68	46	but	but	CCONJ
ajbmeb-2854	68	47	would	would	AUX
ajbmeb-2854	68	48	choose	choose	VERB
ajbmeb-2854	68	49	a	a	DET
ajbmeb-2854	68	50	dividend	dividend	NOUN
ajbmeb-2854	68	51	policy	policy	NOUN
ajbmeb-2854	68	52	that	that	PRON
ajbmeb-2854	68	53	maximizes	maximize	VERB
ajbmeb-2854	68	54	their	their	PRON
ajbmeb-2854	68	55	own	own	ADJ
ajbmeb-2854	68	56	private	private	ADJ
ajbmeb-2854	68	57	benefits	benefit	NOUN
ajbmeb-2854	68	58	.	.	PUNCT
ajbmeb-2854	69	1	making	make	VERB
ajbmeb-2854	69	2	dividend	dividend	NOUN
ajbmeb-2854	69	3	payouts	payout	NOUN
ajbmeb-2854	69	4	which	which	PRON
ajbmeb-2854	69	5	reduces	reduce	VERB
ajbmeb-2854	69	6	the	the	DET
ajbmeb-2854	69	7	free	free	ADJ
ajbmeb-2854	69	8	cash	cash	NOUN
ajbmeb-2854	69	9	flows	flow	NOUN
ajbmeb-2854	69	10	available	available	ADJ
ajbmeb-2854	69	11	to	to	ADP
ajbmeb-2854	69	12	the	the	DET
ajbmeb-2854	69	13	managers	manager	NOUN
ajbmeb-2854	69	14	would	would	AUX
ajbmeb-2854	69	15	thus	thus	ADV
ajbmeb-2854	69	16	ensure	ensure	VERB
ajbmeb-2854	69	17	that	that	SCONJ
ajbmeb-2854	69	18	managers	manager	NOUN
ajbmeb-2854	69	19	maximize	maximize	VERB
ajbmeb-2854	69	20	shareholders	shareholder	NOUN
ajbmeb-2854	69	21	’	'	PUNCT
ajbmeb-2854	69	22	wealth	wealth	NOUN
ajbmeb-2854	69	23	rather	rather	ADV
ajbmeb-2854	69	24	than	than	ADP
ajbmeb-2854	69	25	using	use	VERB
ajbmeb-2854	69	26	the	the	DET
ajbmeb-2854	69	27	funds	fund	NOUN
ajbmeb-2854	69	28	for	for	ADP
ajbmeb-2854	69	29	their	their	PRON
ajbmeb-2854	69	30	private	private	ADJ
ajbmeb-2854	69	31	benefits	benefit	NOUN
ajbmeb-2854	69	32	(	(	PUNCT
ajbmeb-2854	69	33	deangelo	deangelo	PROPN
ajbmeb-2854	69	34	et	et	PROPN
ajbmeb-2854	69	35	al	al	PROPN
ajbmeb-2854	69	36	.	.	PROPN
ajbmeb-2854	69	37	,	,	PUNCT
ajbmeb-2854	69	38	2006	2006	NUM
ajbmeb-2854	69	39	)	)	PUNCT
ajbmeb-2854	69	40	.	.	PUNCT
ajbmeb-2854	70	1	furthermore	furthermore	ADV
ajbmeb-2854	70	2	,	,	PUNCT
ajbmeb-2854	70	3	agency	agency	NOUN
ajbmeb-2854	70	4	theory	theory	NOUN
ajbmeb-2854	70	5	shows	show	VERB
ajbmeb-2854	70	6	a	a	DET
ajbmeb-2854	70	7	negative	negative	ADJ
ajbmeb-2854	70	8	relation	relation	NOUN
ajbmeb-2854	70	9	exist	exist	VERB
ajbmeb-2854	70	10	between	between	ADP
ajbmeb-2854	70	11	investment	investment	NOUN
ajbmeb-2854	70	12	and	and	CCONJ
ajbmeb-2854	70	13	dividend	dividend	NOUN
ajbmeb-2854	70	14	policy	policy	NOUN
ajbmeb-2854	70	15	of	of	ADP
ajbmeb-2854	70	16	the	the	DET
ajbmeb-2854	70	17	firm	firm	ADJ
ajbmeb-2854	70	18	implying	implying	ADJ
ajbmeb-2854	70	19	increase	increase	NOUN
ajbmeb-2854	70	20	dividend	dividend	NOUN
ajbmeb-2854	70	21	payout	payout	NOUN
ajbmeb-2854	70	22	reduces	reduce	VERB
ajbmeb-2854	70	23	firm	firm	ADJ
ajbmeb-2854	70	24	over	over	ADP
ajbmeb-2854	70	25	-	-	PUNCT
ajbmeb-2854	70	26	investment	investment	NOUN
ajbmeb-2854	70	27	problem	problem	NOUN
ajbmeb-2854	70	28	and	and	CCONJ
ajbmeb-2854	70	29	result	result	VERB
ajbmeb-2854	70	30	in	in	ADP
ajbmeb-2854	70	31	increase	increase	NOUN
ajbmeb-2854	70	32	in	in	ADP
ajbmeb-2854	70	33	firm	firm	ADJ
ajbmeb-2854	70	34	value	value	NOUN
ajbmeb-2854	70	35	.	.	PUNCT
ajbmeb-2854	71	1	abor	abor	NOUN
ajbmeb-2854	71	2	(	(	PUNCT
ajbmeb-2854	71	3	2006	2006	NUM
ajbmeb-2854	71	4	)	)	PUNCT
ajbmeb-2854	71	5	opined	opine	VERB
ajbmeb-2854	71	6	that	that	SCONJ
ajbmeb-2854	71	7	firms	firm	NOUN
ajbmeb-2854	71	8	pay	pay	VERB
ajbmeb-2854	71	9	dividends	dividend	NOUN
ajbmeb-2854	71	10	to	to	PART
ajbmeb-2854	71	11	mitigate	mitigate	VERB
ajbmeb-2854	71	12	agency	agency	NOUN
ajbmeb-2854	71	13	cost	cost	NOUN
ajbmeb-2854	71	14	and	and	CCONJ
ajbmeb-2854	71	15	by	by	ADP
ajbmeb-2854	71	16	implication	implication	NOUN
ajbmeb-2854	71	17	when	when	SCONJ
ajbmeb-2854	71	18	institutional	institutional	ADJ
ajbmeb-2854	71	19	holding	holding	NOUN
ajbmeb-2854	71	20	is	be	AUX
ajbmeb-2854	71	21	higher	high	ADJ
ajbmeb-2854	71	22	,	,	PUNCT
ajbmeb-2854	71	23	dividend	dividend	NOUN
ajbmeb-2854	71	24	payout	payout	ADJ
ajbmeb-2854	71	25	ratio	ratio	NOUN
ajbmeb-2854	71	26	will	will	AUX
ajbmeb-2854	71	27	be	be	AUX
ajbmeb-2854	71	28	lower	low	ADJ
ajbmeb-2854	71	29	.	.	PUNCT
ajbmeb-2854	72	1	the	the	DET
ajbmeb-2854	72	2	signaling	signal	VERB
ajbmeb-2854	72	3	theory	theory	NOUN
ajbmeb-2854	72	4	proposes	propose	VERB
ajbmeb-2854	72	5	that	that	SCONJ
ajbmeb-2854	72	6	dividend	dividend	NOUN
ajbmeb-2854	72	7	policy	policy	NOUN
ajbmeb-2854	72	8	can	can	AUX
ajbmeb-2854	72	9	be	be	AUX
ajbmeb-2854	72	10	used	use	VERB
ajbmeb-2854	72	11	as	as	ADP
ajbmeb-2854	72	12	a	a	DET
ajbmeb-2854	72	13	device	device	NOUN
ajbmeb-2854	72	14	to	to	PART
ajbmeb-2854	72	15	communicate	communicate	VERB
ajbmeb-2854	72	16	information	information	NOUN
ajbmeb-2854	72	17	about	about	ADP
ajbmeb-2854	72	18	a	a	DET
ajbmeb-2854	72	19	firm	firm	NOUN
ajbmeb-2854	72	20	’s	’s	PART
ajbmeb-2854	72	21	future	future	ADJ
ajbmeb-2854	72	22	prospects	prospect	NOUN
ajbmeb-2854	72	23	to	to	ADP
ajbmeb-2854	72	24	investors	investor	NOUN
ajbmeb-2854	72	25	.	.	PUNCT
ajbmeb-2854	73	1	cash	cash	NOUN
ajbmeb-2854	73	2	dividend	dividend	NOUN
ajbmeb-2854	73	3	announcements	announcement	NOUN
ajbmeb-2854	73	4	convey	convey	VERB
ajbmeb-2854	73	5	valuable	valuable	ADJ
ajbmeb-2854	73	6	information	information	NOUN
ajbmeb-2854	73	7	,	,	PUNCT
ajbmeb-2854	73	8	which	which	PRON
ajbmeb-2854	73	9	shareholders	shareholder	NOUN
ajbmeb-2854	73	10	do	do	AUX
ajbmeb-2854	73	11	not	not	PART
ajbmeb-2854	73	12	have	have	VERB
ajbmeb-2854	73	13	,	,	PUNCT
ajbmeb-2854	73	14	about	about	ADP
ajbmeb-2854	73	15	management	management	NOUN
ajbmeb-2854	73	16	's	's	PART
ajbmeb-2854	73	17	assessment	assessment	NOUN
ajbmeb-2854	73	18	of	of	ADP
ajbmeb-2854	73	19	a	a	DET
ajbmeb-2854	73	20	firm	firm	NOUN
ajbmeb-2854	73	21	's	's	PART
ajbmeb-2854	73	22	future	future	ADJ
ajbmeb-2854	73	23	profitability	profitability	NOUN
ajbmeb-2854	73	24	thus	thus	ADV
ajbmeb-2854	73	25	reducing	reduce	VERB
ajbmeb-2854	73	26	information	information	NOUN
ajbmeb-2854	73	27	asymmetry	asymmetry	NOUN
ajbmeb-2854	73	28	.	.	PUNCT
ajbmeb-2854	74	1	investors	investor	NOUN
ajbmeb-2854	74	2	may	may	AUX
ajbmeb-2854	74	3	therefore	therefore	ADV
ajbmeb-2854	74	4	use	use	VERB
ajbmeb-2854	74	5	this	this	DET
ajbmeb-2854	74	6	information	information	NOUN
ajbmeb-2854	74	7	in	in	ADP
ajbmeb-2854	74	8	assessing	assess	VERB
ajbmeb-2854	74	9	a	a	DET
ajbmeb-2854	74	10	firm	firm	NOUN
ajbmeb-2854	74	11	’s	’s	PART
ajbmeb-2854	74	12	share	share	NOUN
ajbmeb-2854	74	13	price	price	NOUN
ajbmeb-2854	74	14	.	.	PUNCT
ajbmeb-2854	75	1	lintner	lintner	NOUN
ajbmeb-2854	75	2	(	(	PUNCT
ajbmeb-2854	75	3	1956	1956	NUM
ajbmeb-2854	75	4	)	)	PUNCT
ajbmeb-2854	75	5	indicates	indicate	VERB
ajbmeb-2854	75	6	that	that	SCONJ
ajbmeb-2854	75	7	companies	company	NOUN
ajbmeb-2854	75	8	have	have	VERB
ajbmeb-2854	75	9	propensity	propensity	NOUN
ajbmeb-2854	75	10	of	of	ADP
ajbmeb-2854	75	11	increasing	increase	VERB
ajbmeb-2854	75	12	the	the	DET
ajbmeb-2854	75	13	dividends	dividend	NOUN
ajbmeb-2854	75	14	when	when	SCONJ
ajbmeb-2854	75	15	their	their	PRON
ajbmeb-2854	75	16	managers	manager	NOUN
ajbmeb-2854	75	17	were	be	AUX
ajbmeb-2854	75	18	of	of	ADP
ajbmeb-2854	75	19	the	the	DET
ajbmeb-2854	75	20	belief	belief	NOUN
ajbmeb-2854	75	21	that	that	SCONJ
ajbmeb-2854	75	22	increasing	increase	VERB
ajbmeb-2854	75	23	earning	earning	NOUN
ajbmeb-2854	75	24	is	be	AUX
ajbmeb-2854	75	25	permanent	permanent	ADJ
ajbmeb-2854	75	26	thereby	thereby	ADV
ajbmeb-2854	75	27	sending	send	VERB
ajbmeb-2854	75	28	signals	signal	NOUN
ajbmeb-2854	75	29	that	that	SCONJ
ajbmeb-2854	75	30	higher	high	ADJ
ajbmeb-2854	75	31	dividend	dividend	NOUN
ajbmeb-2854	75	32	payout	payout	NOUN
ajbmeb-2854	75	33	is	be	AUX
ajbmeb-2854	75	34	an	an	DET
ajbmeb-2854	75	35	indication	indication	NOUN
ajbmeb-2854	75	36	of	of	ADP
ajbmeb-2854	75	37	sustainability	sustainability	NOUN
ajbmeb-2854	75	38	of	of	ADP
ajbmeb-2854	75	39	earning	earn	VERB
ajbmeb-2854	75	40	in	in	ADP
ajbmeb-2854	75	41	the	the	DET
ajbmeb-2854	75	42	long	long	ADJ
ajbmeb-2854	75	43	run	run	NOUN
ajbmeb-2854	75	44	from	from	ADP
ajbmeb-2854	75	45	shares	share	NOUN
ajbmeb-2854	75	46	.	.	PUNCT
ajbmeb-2854	76	1	dividend	dividend	NOUN
ajbmeb-2854	76	2	policy	policy	NOUN
ajbmeb-2854	76	3	under	under	ADP
ajbmeb-2854	76	4	signaling	signal	VERB
ajbmeb-2854	76	5	model	model	NOUN
ajbmeb-2854	76	6	is	be	AUX
ajbmeb-2854	76	7	therefore	therefore	ADV
ajbmeb-2854	76	8	relevant	relevant	ADJ
ajbmeb-2854	76	9	(	(	PUNCT
ajbmeb-2854	76	10	al	al	PROPN
ajbmeb-2854	76	11	-	-	PUNCT
ajbmeb-2854	76	12	kuwari	kuwari	PROPN
ajbmeb-2854	76	13	,	,	PUNCT
ajbmeb-2854	76	14	2009).bird	2009).bird	NUM
ajbmeb-2854	76	15	in	in	ADP
ajbmeb-2854	76	16	hand	hand	NOUN
ajbmeb-2854	76	17	theory	theory	NOUN
ajbmeb-2854	76	18	proposes	propose	VERB
ajbmeb-2854	76	19	that	that	SCONJ
ajbmeb-2854	76	20	a	a	DET
ajbmeb-2854	76	21	relationship	relationship	NOUN
ajbmeb-2854	76	22	exists	exist	VERB
ajbmeb-2854	76	23	between	between	ADP
ajbmeb-2854	76	24	firm	firm	ADJ
ajbmeb-2854	76	25	value	value	NOUN
ajbmeb-2854	76	26	and	and	CCONJ
ajbmeb-2854	76	27	dividend	dividend	NOUN
ajbmeb-2854	76	28	payout	payout	NOUN
ajbmeb-2854	76	29	.	.	PUNCT
ajbmeb-2854	77	1	it	it	PRON
ajbmeb-2854	77	2	states	state	VERB
ajbmeb-2854	77	3	that	that	SCONJ
ajbmeb-2854	77	4	dividends	dividend	NOUN
ajbmeb-2854	77	5	are	be	AUX
ajbmeb-2854	77	6	less	less	ADV
ajbmeb-2854	77	7	risky	risky	ADJ
ajbmeb-2854	77	8	than	than	ADP
ajbmeb-2854	77	9	capital	capital	NOUN
ajbmeb-2854	77	10	gains	gain	NOUN
ajbmeb-2854	77	11	since	since	SCONJ
ajbmeb-2854	77	12	they	they	PRON
ajbmeb-2854	77	13	are	be	AUX
ajbmeb-2854	77	14	more	more	ADV
ajbmeb-2854	77	15	certain	certain	ADJ
ajbmeb-2854	77	16	.	.	PUNCT
ajbmeb-2854	78	1	investors	investor	NOUN
ajbmeb-2854	78	2	would	would	AUX
ajbmeb-2854	78	3	therefore	therefore	ADV
ajbmeb-2854	78	4	prefer	prefer	VERB
ajbmeb-2854	78	5	dividends	dividend	NOUN
ajbmeb-2854	78	6	to	to	ADP
ajbmeb-2854	78	7	capital	capital	NOUN
ajbmeb-2854	78	8	gains	gain	NOUN
ajbmeb-2854	78	9	.	.	PUNCT
ajbmeb-2854	79	1	conceptual	conceptual	ADJ
ajbmeb-2854	79	2	framework	framework	NOUN
ajbmeb-2854	79	3	firm	firm	NOUN
ajbmeb-2854	79	4	value	value	NOUN
ajbmeb-2854	79	5	there	there	PRON
ajbmeb-2854	79	6	are	be	VERB
ajbmeb-2854	79	7	many	many	ADJ
ajbmeb-2854	79	8	strategies	strategy	NOUN
ajbmeb-2854	79	9	to	to	PART
ajbmeb-2854	79	10	value	value	VERB
ajbmeb-2854	79	11	a	a	DET
ajbmeb-2854	79	12	company	company	NOUN
ajbmeb-2854	79	13	depending	depend	VERB
ajbmeb-2854	79	14	on	on	ADP
ajbmeb-2854	79	15	the	the	DET
ajbmeb-2854	79	16	intent	intent	NOUN
ajbmeb-2854	79	17	and	and	CCONJ
ajbmeb-2854	79	18	purpose	purpose	NOUN
ajbmeb-2854	79	19	of	of	ADP
ajbmeb-2854	79	20	valuation	valuation	NOUN
ajbmeb-2854	79	21	.	.	PUNCT
ajbmeb-2854	80	1	a	a	DET
ajbmeb-2854	80	2	firm	firm	NOUN
ajbmeb-2854	80	3	can	can	AUX
ajbmeb-2854	80	4	be	be	AUX
ajbmeb-2854	80	5	valued	value	VERB
ajbmeb-2854	80	6	for	for	ADP
ajbmeb-2854	80	7	liquidation	liquidation	NOUN
ajbmeb-2854	80	8	,	,	PUNCT
ajbmeb-2854	80	9	for	for	ADP
ajbmeb-2854	80	10	amalgamation	amalgamation	NOUN
ajbmeb-2854	80	11	or	or	CCONJ
ajbmeb-2854	80	12	to	to	PART
ajbmeb-2854	80	13	write	write	VERB
ajbmeb-2854	80	14	-	-	PUNCT
ajbmeb-2854	80	15	off	off	ADP
ajbmeb-2854	80	16	excess	excess	ADJ
ajbmeb-2854	80	17	liability	liability	NOUN
ajbmeb-2854	80	18	in	in	ADP
ajbmeb-2854	80	19	case	case	NOUN
ajbmeb-2854	80	20	of	of	ADP
ajbmeb-2854	80	21	diminution	diminution	NOUN
ajbmeb-2854	80	22	in	in	ADP
ajbmeb-2854	80	23	capital	capital	NOUN
ajbmeb-2854	80	24	and	and	CCONJ
ajbmeb-2854	80	25	when	when	SCONJ
ajbmeb-2854	80	26	assets	asset	NOUN
ajbmeb-2854	80	27	do	do	AUX
ajbmeb-2854	80	28	not	not	PART
ajbmeb-2854	80	29	fairly	fairly	ADV
ajbmeb-2854	80	30	represent	represent	VERB
ajbmeb-2854	80	31	capital	capital	NOUN
ajbmeb-2854	80	32	.	.	PUNCT
ajbmeb-2854	81	1	a	a	DET
ajbmeb-2854	81	2	firm	firm	NOUN
ajbmeb-2854	81	3	can	can	AUX
ajbmeb-2854	81	4	also	also	ADV
ajbmeb-2854	81	5	be	be	AUX
ajbmeb-2854	81	6	valued	value	VERB
ajbmeb-2854	81	7	for	for	ADP
ajbmeb-2854	81	8	investment	investment	NOUN
ajbmeb-2854	81	9	purpose	purpose	NOUN
ajbmeb-2854	81	10	in	in	ADP
ajbmeb-2854	81	11	which	which	DET
ajbmeb-2854	81	12	case	case	NOUN
ajbmeb-2854	81	13	the	the	DET
ajbmeb-2854	81	14	future	future	ADJ
ajbmeb-2854	81	15	potential	potential	NOUN
ajbmeb-2854	81	16	of	of	ADP
ajbmeb-2854	81	17	the	the	DET
ajbmeb-2854	81	18	entity	entity	NOUN
ajbmeb-2854	81	19	will	will	AUX
ajbmeb-2854	81	20	determine	determine	VERB
ajbmeb-2854	81	21	the	the	DET
ajbmeb-2854	81	22	method	method	NOUN
ajbmeb-2854	81	23	being	be	AUX
ajbmeb-2854	81	24	used	use	VERB
ajbmeb-2854	81	25	.	.	PUNCT
ajbmeb-2854	82	1	assets	asset	NOUN
ajbmeb-2854	82	2	alone	alone	ADV
ajbmeb-2854	82	3	do	do	AUX
ajbmeb-2854	82	4	not	not	PART
ajbmeb-2854	82	5	constitute	constitute	VERB
ajbmeb-2854	82	6	the	the	DET
ajbmeb-2854	82	7	yardstick	yardstick	NOUN
ajbmeb-2854	82	8	for	for	ADP
ajbmeb-2854	82	9	determination	determination	NOUN
ajbmeb-2854	82	10	of	of	ADP
ajbmeb-2854	82	11	the	the	DET
ajbmeb-2854	82	12	value	value	NOUN
ajbmeb-2854	82	13	of	of	ADP
ajbmeb-2854	82	14	a	a	DET
ajbmeb-2854	82	15	firm	firm	NOUN
ajbmeb-2854	82	16	as	as	ADP
ajbmeb-2854	82	17	intangible	intangible	ADJ
ajbmeb-2854	82	18	assets	asset	NOUN
ajbmeb-2854	82	19	such	such	ADJ
ajbmeb-2854	82	20	as	as	ADP
ajbmeb-2854	82	21	goodwill	goodwill	NOUN
ajbmeb-2854	82	22	,	,	PUNCT
ajbmeb-2854	82	23	patents	patent	NOUN
ajbmeb-2854	82	24	,	,	PUNCT
ajbmeb-2854	82	25	franchises	franchise	NOUN
ajbmeb-2854	82	26	,	,	PUNCT
ajbmeb-2854	82	27	proximity	proximity	NOUN
ajbmeb-2854	82	28	to	to	ADP
ajbmeb-2854	82	29	sources	source	NOUN
ajbmeb-2854	82	30	of	of	ADP
ajbmeb-2854	82	31	raw	raw	ADJ
ajbmeb-2854	82	32	material	material	NOUN
ajbmeb-2854	82	33	,	,	PUNCT
ajbmeb-2854	82	34	intellectual	intellectual	ADJ
ajbmeb-2854	82	35	capital	capital	NOUN
ajbmeb-2854	82	36	is	be	AUX
ajbmeb-2854	82	37	also	also	ADV
ajbmeb-2854	82	38	part	part	NOUN
ajbmeb-2854	82	39	of	of	ADP
ajbmeb-2854	82	40	the	the	DET
ajbmeb-2854	82	41	consideration	consideration	NOUN
ajbmeb-2854	82	42	.	.	PUNCT
ajbmeb-2854	83	1	in	in	ADP
ajbmeb-2854	83	2	the	the	DET
ajbmeb-2854	83	3	market	market	NOUN
ajbmeb-2854	83	4	,	,	PUNCT
ajbmeb-2854	83	5	value	value	NOUN
ajbmeb-2854	83	6	is	be	AUX
ajbmeb-2854	83	7	derived	derive	VERB
ajbmeb-2854	83	8	based	base	VERB
ajbmeb-2854	83	9	on	on	ADP
ajbmeb-2854	83	10	the	the	DET
ajbmeb-2854	83	11	price	price	NOUN
ajbmeb-2854	83	12	that	that	PRON
ajbmeb-2854	83	13	it	it	PRON
ajbmeb-2854	83	14	is	be	AUX
ajbmeb-2854	83	15	being	be	AUX
ajbmeb-2854	83	16	offered	offer	VERB
ajbmeb-2854	83	17	and	and	CCONJ
ajbmeb-2854	83	18	the	the	DET
ajbmeb-2854	83	19	price	price	NOUN
ajbmeb-2854	83	20	which	which	PRON
ajbmeb-2854	83	21	the	the	DET
ajbmeb-2854	83	22	investors	investor	NOUN
ajbmeb-2854	83	23	are	be	AUX
ajbmeb-2854	83	24	willing	willing	ADJ
ajbmeb-2854	83	25	to	to	PART
ajbmeb-2854	83	26	buy	buy	VERB
ajbmeb-2854	83	27	an	an	DET
ajbmeb-2854	83	28	existing	exist	VERB
ajbmeb-2854	83	29	share	share	NOUN
ajbmeb-2854	83	30	at	at	ADP
ajbmeb-2854	83	31	a	a	DET
ajbmeb-2854	83	32	given	give	VERB
ajbmeb-2854	83	33	period	period	NOUN
ajbmeb-2854	83	34	of	of	ADP
ajbmeb-2854	83	35	time	time	NOUN
ajbmeb-2854	83	36	.	.	PUNCT
ajbmeb-2854	84	1	thus	thus	ADV
ajbmeb-2854	84	2	,	,	PUNCT
ajbmeb-2854	84	3	share	share	NOUN
ajbmeb-2854	84	4	valuation	valuation	NOUN
ajbmeb-2854	84	5	in	in	ADP
ajbmeb-2854	84	6	the	the	DET
ajbmeb-2854	84	7	market	market	NOUN
ajbmeb-2854	84	8	is	be	AUX
ajbmeb-2854	84	9	driven	drive	VERB
ajbmeb-2854	84	10	by	by	ADP
ajbmeb-2854	84	11	multiple	multiple	ADJ
ajbmeb-2854	84	12	factors	factor	NOUN
ajbmeb-2854	84	13	and	and	CCONJ
ajbmeb-2854	84	14	not	not	PART
ajbmeb-2854	84	15	limited	limit	VERB
ajbmeb-2854	84	16	to	to	ADP
ajbmeb-2854	84	17	tangible	tangible	ADJ
ajbmeb-2854	84	18	assets	asset	NOUN
ajbmeb-2854	84	19	.	.	PUNCT
ajbmeb-2854	85	1	outside	outside	ADP
ajbmeb-2854	85	2	the	the	DET
ajbmeb-2854	85	3	stock	stock	NOUN
ajbmeb-2854	85	4	market	market	NOUN
ajbmeb-2854	85	5	a	a	DET
ajbmeb-2854	85	6	company	company	NOUN
ajbmeb-2854	85	7	can	can	AUX
ajbmeb-2854	85	8	be	be	AUX
ajbmeb-2854	85	9	sold	sell	VERB
ajbmeb-2854	85	10	based	base	VERB
ajbmeb-2854	85	11	on	on	ADP
ajbmeb-2854	85	12	its	its	PRON
ajbmeb-2854	85	13	liquidation	liquidation	NOUN
ajbmeb-2854	85	14	value	value	NOUN
ajbmeb-2854	85	15	in	in	ADP
ajbmeb-2854	85	16	which	which	DET
ajbmeb-2854	85	17	case	case	NOUN
ajbmeb-2854	85	18	the	the	DET
ajbmeb-2854	85	19	historical	historical	ADJ
ajbmeb-2854	85	20	and	and	CCONJ
ajbmeb-2854	85	21	the	the	DET
ajbmeb-2854	85	22	realizable	realizable	ADJ
ajbmeb-2854	85	23	value	value	NOUN
ajbmeb-2854	85	24	of	of	ADP
ajbmeb-2854	85	25	the	the	DET
ajbmeb-2854	85	26	assets	asset	NOUN
ajbmeb-2854	85	27	of	of	ADP
ajbmeb-2854	85	28	the	the	DET
ajbmeb-2854	85	29	firm	firm	NOUN
ajbmeb-2854	85	30	is	be	AUX
ajbmeb-2854	85	31	the	the	DET
ajbmeb-2854	85	32	major	major	ADJ
ajbmeb-2854	85	33	consideration	consideration	NOUN
ajbmeb-2854	85	34	.	.	PUNCT
ajbmeb-2854	86	1	for	for	ADP
ajbmeb-2854	86	2	investors	investor	NOUN
ajbmeb-2854	86	3	assessing	assess	VERB
ajbmeb-2854	86	4	the	the	DET
ajbmeb-2854	86	5	future	future	ADJ
ajbmeb-2854	86	6	potentials	potential	NOUN
ajbmeb-2854	86	7	of	of	ADP
ajbmeb-2854	86	8	a	a	DET
ajbmeb-2854	86	9	firm	firm	NOUN
ajbmeb-2854	86	10	,	,	PUNCT
ajbmeb-2854	86	11	dividend	dividend	NOUN
ajbmeb-2854	86	12	valuation	valuation	NOUN
ajbmeb-2854	86	13	model	model	NOUN
ajbmeb-2854	86	14	can	can	AUX
ajbmeb-2854	86	15	be	be	AUX
ajbmeb-2854	86	16	utilized	utilize	VERB
ajbmeb-2854	86	17	which	which	PRON
ajbmeb-2854	86	18	considers	consider	VERB
ajbmeb-2854	86	19	the	the	DET
ajbmeb-2854	86	20	present	present	ADJ
ajbmeb-2854	86	21	value	value	NOUN
ajbmeb-2854	86	22	of	of	ADP
ajbmeb-2854	86	23	future	future	ADJ
ajbmeb-2854	86	24	streams	stream	NOUN
ajbmeb-2854	86	25	of	of	ADP
ajbmeb-2854	86	26	income	income	NOUN
ajbmeb-2854	86	27	based	base	VERB
ajbmeb-2854	86	28	on	on	ADP
ajbmeb-2854	86	29	the	the	DET
ajbmeb-2854	86	30	cost	cost	NOUN
ajbmeb-2854	86	31	of	of	ADP
ajbmeb-2854	86	32	capital	capital	NOUN
ajbmeb-2854	86	33	.	.	PUNCT
ajbmeb-2854	87	1	accurate	accurate	ADJ
ajbmeb-2854	87	2	determination	determination	NOUN
ajbmeb-2854	87	3	of	of	ADP
ajbmeb-2854	87	4	firm	firm	ADJ
ajbmeb-2854	87	5	value	value	NOUN
ajbmeb-2854	87	6	under	under	ADP
ajbmeb-2854	87	7	this	this	DET
ajbmeb-2854	87	8	scenario	scenario	NOUN
ajbmeb-2854	87	9	is	be	AUX
ajbmeb-2854	87	10	a	a	DET
ajbmeb-2854	87	11	function	function	NOUN
ajbmeb-2854	87	12	of	of	ADP
ajbmeb-2854	87	13	accuracy	accuracy	NOUN
ajbmeb-2854	87	14	in	in	ADP
ajbmeb-2854	87	15	determining	determine	VERB
ajbmeb-2854	87	16	future	future	ADJ
ajbmeb-2854	87	17	cash	cash	NOUN
ajbmeb-2854	87	18	flows	flow	NOUN
ajbmeb-2854	87	19	.	.	PUNCT
ajbmeb-2854	88	1	the	the	DET
ajbmeb-2854	88	2	dividend	dividend	NOUN
ajbmeb-2854	88	3	model	model	NOUN
ajbmeb-2854	88	4	and	and	CCONJ
ajbmeb-2854	88	5	contribution	contribution	NOUN
ajbmeb-2854	88	6	to	to	ADP
ajbmeb-2854	88	7	firm	firm	ADJ
ajbmeb-2854	88	8	value	value	NOUN
ajbmeb-2854	88	9	is	be	AUX
ajbmeb-2854	88	10	a	a	DET
ajbmeb-2854	88	11	subject	subject	NOUN
ajbmeb-2854	88	12	of	of	ADP
ajbmeb-2854	88	13	debate	debate	NOUN
ajbmeb-2854	88	14	.	.	PUNCT
ajbmeb-2854	89	1	first	first	ADV
ajbmeb-2854	89	2	,	,	PUNCT
ajbmeb-2854	89	3	un	un	ADJ
ajbmeb-2854	89	4	-	-	ADJ
ajbmeb-2854	89	5	distributable	distributable	ADJ
ajbmeb-2854	89	6	profit	profit	NOUN
ajbmeb-2854	89	7	is	be	AUX
ajbmeb-2854	89	8	retained	retain	VERB
ajbmeb-2854	89	9	and	and	CCONJ
ajbmeb-2854	89	10	use	use	VERB
ajbmeb-2854	89	11	for	for	ADP
ajbmeb-2854	89	12	internal	internal	ADJ
ajbmeb-2854	89	13	financing	financing	NOUN
ajbmeb-2854	89	14	for	for	ADP
ajbmeb-2854	89	15	growth	growth	NOUN
ajbmeb-2854	89	16	and	and	CCONJ
ajbmeb-2854	89	17	stability	stability	NOUN
ajbmeb-2854	89	18	of	of	ADP
ajbmeb-2854	89	19	the	the	DET
ajbmeb-2854	89	20	firm	firm	NOUN
ajbmeb-2854	89	21	.	.	PUNCT
ajbmeb-2854	90	1	second	second	ADJ
ajbmeb-2854	90	2	,	,	PUNCT
ajbmeb-2854	90	3	a	a	DET
ajbmeb-2854	90	4	firm	firm	NOUN
ajbmeb-2854	90	5	will	will	AUX
ajbmeb-2854	90	6	still	still	ADV
ajbmeb-2854	90	7	have	have	VERB
ajbmeb-2854	90	8	value	value	NOUN
ajbmeb-2854	90	9	whether	whether	SCONJ
ajbmeb-2854	90	10	dividend	dividend	NOUN
ajbmeb-2854	90	11	is	be	AUX
ajbmeb-2854	90	12	paid	pay	VERB
ajbmeb-2854	90	13	or	or	CCONJ
ajbmeb-2854	90	14	not	not	PART
ajbmeb-2854	90	15	in	in	ADP
ajbmeb-2854	90	16	the	the	DET
ajbmeb-2854	90	17	circumstance	circumstance	NOUN
ajbmeb-2854	90	18	that	that	PRON
ajbmeb-2854	90	19	retained	retain	VERB
ajbmeb-2854	90	20	earnings	earning	NOUN
ajbmeb-2854	90	21	are	be	AUX
ajbmeb-2854	90	22	ploughed	plough	VERB
ajbmeb-2854	90	23	back	back	ADV
ajbmeb-2854	90	24	into	into	ADP
ajbmeb-2854	90	25	the	the	DET
ajbmeb-2854	90	26	business	business	NOUN
ajbmeb-2854	90	27	to	to	PART
ajbmeb-2854	90	28	enhance	enhance	VERB
ajbmeb-2854	90	29	asset	asset	NOUN
ajbmeb-2854	90	30	base	base	NOUN
ajbmeb-2854	90	31	and	and	CCONJ
ajbmeb-2854	90	32	cash	cash	NOUN
ajbmeb-2854	90	33	flows	flow	NOUN
ajbmeb-2854	90	34	to	to	PART
ajbmeb-2854	90	35	generate	generate	VERB
ajbmeb-2854	90	36	future	future	ADJ
ajbmeb-2854	90	37	earnings	earning	NOUN
ajbmeb-2854	90	38	.	.	PUNCT
ajbmeb-2854	91	1	thirdly	thirdly	ADV
ajbmeb-2854	91	2	,	,	PUNCT
ajbmeb-2854	91	3	reinvested	reinveste	VERB
ajbmeb-2854	91	4	earnings	earning	NOUN
ajbmeb-2854	91	5	enhance	enhance	NOUN
ajbmeb-2854	91	6	capital	capital	NOUN
ajbmeb-2854	91	7	appreciation	appreciation	NOUN
ajbmeb-2854	91	8	and	and	CCONJ
ajbmeb-2854	91	9	some	some	DET
ajbmeb-2854	91	10	investors	investor	NOUN
ajbmeb-2854	91	11	prefer	prefer	VERB
ajbmeb-2854	91	12	capital	capital	NOUN
ajbmeb-2854	91	13	gains	gain	NOUN
ajbmeb-2854	91	14	to	to	ADP
ajbmeb-2854	91	15	dividends	dividend	NOUN
ajbmeb-2854	91	16	.	.	PUNCT
ajbmeb-2854	92	1	shefrin	shefrin	NOUN
ajbmeb-2854	92	2	(	(	PUNCT
ajbmeb-2854	92	3	1984	1984	NUM
ajbmeb-2854	92	4	)	)	PUNCT
ajbmeb-2854	92	5	further	far	ADV
ajbmeb-2854	92	6	conclude	conclude	VERB
ajbmeb-2854	92	7	that	that	SCONJ
ajbmeb-2854	92	8	shareholders	shareholder	NOUN
ajbmeb-2854	92	9	prefer	prefer	VERB
ajbmeb-2854	92	10	series	series	NOUN
ajbmeb-2854	92	11	of	of	ADP
ajbmeb-2854	92	12	small	small	ADJ
ajbmeb-2854	92	13	gains	gain	NOUN
ajbmeb-2854	92	14	rather	rather	ADV
ajbmeb-2854	92	15	than	than	ADP
ajbmeb-2854	92	16	one	one	NUM
ajbmeb-2854	92	17	-	-	PUNCT
ajbmeb-2854	92	18	time	time	NOUN
ajbmeb-2854	92	19	big	big	ADJ
ajbmeb-2854	92	20	gain	gain	NOUN
ajbmeb-2854	92	21	such	such	ADJ
ajbmeb-2854	92	22	as	as	ADP
ajbmeb-2854	92	23	capital	capital	NOUN
ajbmeb-2854	92	24	gain	gain	NOUN
ajbmeb-2854	92	25	.	.	PUNCT
ajbmeb-2854	93	1	therefore	therefore	ADV
ajbmeb-2854	93	2	,	,	PUNCT
ajbmeb-2854	93	3	investors	investor	NOUN
ajbmeb-2854	93	4	are	be	AUX
ajbmeb-2854	93	5	willing	willing	ADJ
ajbmeb-2854	93	6	to	to	PART
ajbmeb-2854	93	7	pay	pay	VERB
ajbmeb-2854	93	8	higher	high	ADJ
ajbmeb-2854	93	9	price	price	NOUN
ajbmeb-2854	93	10	for	for	ADP
ajbmeb-2854	93	11	firm	firm	NOUN
ajbmeb-2854	93	12	with	with	ADP
ajbmeb-2854	93	13	dividend	dividend	NOUN
ajbmeb-2854	93	14	payment	payment	NOUN
ajbmeb-2854	93	15	.	.	PUNCT
ajbmeb-2854	94	1	black	black	ADJ
ajbmeb-2854	94	2	(	(	PUNCT
ajbmeb-2854	94	3	1990	1990	NUM
ajbmeb-2854	94	4	)	)	PUNCT
ajbmeb-2854	94	5	also	also	ADV
ajbmeb-2854	94	6	indicate	indicate	VERB
ajbmeb-2854	94	7	that	that	SCONJ
ajbmeb-2854	94	8	shareholders	shareholder	NOUN
ajbmeb-2854	94	9	american	american	PROPN
ajbmeb-2854	94	10	journal	journal	PROPN
ajbmeb-2854	94	11	of	of	ADP
ajbmeb-2854	94	12	business	business	NOUN
ajbmeb-2854	94	13	management	management	NOUN
ajbmeb-2854	94	14	,	,	PUNCT
ajbmeb-2854	94	15	economics	economic	NOUN
ajbmeb-2854	94	16	and	and	CCONJ
ajbmeb-2854	94	17	banking	banking	NOUN
ajbmeb-2854	94	18	volume	volume	NOUN
ajbmeb-2854	94	19	35	35	NUM
ajbmeb-2854	94	20	april	april	PROPN
ajbmeb-2854	94	21	2025	2025	NUM
ajbmeb-2854	94	22	p	p	NOUN
ajbmeb-2854	94	23	a	a	DET
ajbmeb-2854	94	24	g	g	NOUN
ajbmeb-2854	94	25	e	e	NOUN
ajbmeb-2854	94	26	|	|	ADV
ajbmeb-2854	94	27	48	48	NUM
ajbmeb-2854	94	28	www.americanjournal.org	www.americanjournal.org	NOUN
ajbmeb-2854	94	29	more	more	ADV
ajbmeb-2854	94	30	prefer	prefer	VERB
ajbmeb-2854	94	31	dividend	dividend	NOUN
ajbmeb-2854	94	32	payout	payout	NOUN
ajbmeb-2854	94	33	because	because	SCONJ
ajbmeb-2854	94	34	it	it	PRON
ajbmeb-2854	94	35	prevent	prevent	VERB
ajbmeb-2854	94	36	them	they	PRON
ajbmeb-2854	94	37	from	from	ADP
ajbmeb-2854	94	38	consuming	consume	VERB
ajbmeb-2854	94	39	their	their	PRON
ajbmeb-2854	94	40	own	own	ADJ
ajbmeb-2854	94	41	capital	capital	NOUN
ajbmeb-2854	94	42	dividend	dividend	NOUN
ajbmeb-2854	94	43	paid	pay	VERB
ajbmeb-2854	94	44	is	be	AUX
ajbmeb-2854	94	45	valuable	valuable	ADJ
ajbmeb-2854	94	46	to	to	ADP
ajbmeb-2854	94	47	shareholders	shareholder	NOUN
ajbmeb-2854	94	48	as	as	SCONJ
ajbmeb-2854	94	49	it	it	PRON
ajbmeb-2854	94	50	enhances	enhance	VERB
ajbmeb-2854	94	51	cash	cash	NOUN
ajbmeb-2854	94	52	flow	flow	NOUN
ajbmeb-2854	94	53	.	.	PUNCT
ajbmeb-2854	95	1	while	while	SCONJ
ajbmeb-2854	95	2	it	it	PRON
ajbmeb-2854	95	3	is	be	AUX
ajbmeb-2854	95	4	a	a	DET
ajbmeb-2854	95	5	widely	widely	ADV
ajbmeb-2854	95	6	held	hold	VERB
ajbmeb-2854	95	7	belief	belief	NOUN
ajbmeb-2854	95	8	that	that	SCONJ
ajbmeb-2854	95	9	dividend	dividend	NOUN
ajbmeb-2854	95	10	payments	payment	NOUN
ajbmeb-2854	95	11	carry	carry	VERB
ajbmeb-2854	95	12	information	information	NOUN
ajbmeb-2854	95	13	which	which	PRON
ajbmeb-2854	95	14	influences	influence	VERB
ajbmeb-2854	95	15	decision	decision	NOUN
ajbmeb-2854	95	16	by	by	ADP
ajbmeb-2854	95	17	investors	investor	NOUN
ajbmeb-2854	95	18	and	and	CCONJ
ajbmeb-2854	95	19	drives	drive	VERB
ajbmeb-2854	95	20	value	value	NOUN
ajbmeb-2854	95	21	in	in	ADP
ajbmeb-2854	95	22	the	the	DET
ajbmeb-2854	95	23	market	market	NOUN
ajbmeb-2854	95	24	,	,	PUNCT
ajbmeb-2854	95	25	this	this	DET
ajbmeb-2854	95	26	position	position	NOUN
ajbmeb-2854	95	27	is	be	AUX
ajbmeb-2854	95	28	not	not	PART
ajbmeb-2854	95	29	always	always	ADV
ajbmeb-2854	95	30	justified	justify	VERB
ajbmeb-2854	95	31	as	as	SCONJ
ajbmeb-2854	95	32	questionable	questionable	ADJ
ajbmeb-2854	95	33	financial	financial	ADJ
ajbmeb-2854	95	34	performance	performance	NOUN
ajbmeb-2854	95	35	can	can	AUX
ajbmeb-2854	95	36	dampen	dampen	VERB
ajbmeb-2854	95	37	investors	investor	NOUN
ajbmeb-2854	95	38	interest	interest	NOUN
ajbmeb-2854	95	39	market	market	NOUN
ajbmeb-2854	95	40	capitalization	capitalization	NOUN
ajbmeb-2854	95	41	market	market	NOUN
ajbmeb-2854	95	42	capitalization	capitalization	NOUN
ajbmeb-2854	95	43	,	,	PUNCT
ajbmeb-2854	95	44	which	which	PRON
ajbmeb-2854	95	45	may	may	AUX
ajbmeb-2854	95	46	also	also	ADV
ajbmeb-2854	95	47	be	be	AUX
ajbmeb-2854	95	48	referred	refer	VERB
ajbmeb-2854	95	49	to	to	ADP
ajbmeb-2854	95	50	as	as	ADP
ajbmeb-2854	95	51	market	market	NOUN
ajbmeb-2854	95	52	cap	cap	NOUN
ajbmeb-2854	95	53	,	,	PUNCT
ajbmeb-2854	95	54	represents	represent	VERB
ajbmeb-2854	95	55	how	how	SCONJ
ajbmeb-2854	95	56	much	much	ADJ
ajbmeb-2854	95	57	a	a	DET
ajbmeb-2854	95	58	firm	firm	NOUN
ajbmeb-2854	95	59	is	be	AUX
ajbmeb-2854	95	60	worth	worth	ADJ
ajbmeb-2854	95	61	in	in	ADP
ajbmeb-2854	95	62	the	the	DET
ajbmeb-2854	95	63	publicly	publicly	ADV
ajbmeb-2854	95	64	traded	trade	VERB
ajbmeb-2854	95	65	markets	market	NOUN
ajbmeb-2854	95	66	.	.	PUNCT
ajbmeb-2854	96	1	it	it	PRON
ajbmeb-2854	96	2	illustrates	illustrate	VERB
ajbmeb-2854	96	3	the	the	DET
ajbmeb-2854	96	4	value	value	NOUN
ajbmeb-2854	96	5	at	at	ADP
ajbmeb-2854	96	6	which	which	PRON
ajbmeb-2854	96	7	investors	investor	NOUN
ajbmeb-2854	96	8	are	be	AUX
ajbmeb-2854	96	9	placing	place	VERB
ajbmeb-2854	96	10	on	on	ADP
ajbmeb-2854	96	11	a	a	DET
ajbmeb-2854	96	12	firm	firm	NOUN
ajbmeb-2854	96	13	at	at	ADP
ajbmeb-2854	96	14	a	a	DET
ajbmeb-2854	96	15	given	give	VERB
ajbmeb-2854	96	16	time	time	NOUN
ajbmeb-2854	96	17	.	.	PUNCT
ajbmeb-2854	97	1	market	market	NOUN
ajbmeb-2854	97	2	cap	cap	NOUN
ajbmeb-2854	97	3	can	can	AUX
ajbmeb-2854	97	4	be	be	AUX
ajbmeb-2854	97	5	calculated	calculate	VERB
ajbmeb-2854	97	6	by	by	ADP
ajbmeb-2854	97	7	multiplying	multiply	VERB
ajbmeb-2854	97	8	a	a	DET
ajbmeb-2854	97	9	stock	stock	NOUN
ajbmeb-2854	97	10	's	's	PART
ajbmeb-2854	97	11	market	market	NOUN
ajbmeb-2854	97	12	value	value	NOUN
ajbmeb-2854	97	13	by	by	ADP
ajbmeb-2854	97	14	the	the	DET
ajbmeb-2854	97	15	number	number	NOUN
ajbmeb-2854	97	16	of	of	ADP
ajbmeb-2854	97	17	shares	share	NOUN
ajbmeb-2854	97	18	that	that	PRON
ajbmeb-2854	97	19	a	a	DET
ajbmeb-2854	97	20	firm	firm	NOUN
ajbmeb-2854	97	21	has	have	VERB
ajbmeb-2854	97	22	outstanding	outstanding	ADJ
ajbmeb-2854	97	23	,	,	PUNCT
ajbmeb-2854	97	24	the	the	DET
ajbmeb-2854	97	25	latter	latter	NOUN
ajbmeb-2854	97	26	of	of	ADP
ajbmeb-2854	97	27	which	which	PRON
ajbmeb-2854	97	28	are	be	AUX
ajbmeb-2854	97	29	common	common	ADJ
ajbmeb-2854	97	30	stock	stock	NOUN
ajbmeb-2854	97	31	shares	share	NOUN
ajbmeb-2854	97	32	that	that	PRON
ajbmeb-2854	97	33	have	have	AUX
ajbmeb-2854	97	34	been	be	AUX
ajbmeb-2854	97	35	issued	issue	VERB
ajbmeb-2854	97	36	for	for	ADP
ajbmeb-2854	97	37	trading	trading	NOUN
ajbmeb-2854	97	38	in	in	ADP
ajbmeb-2854	97	39	the	the	DET
ajbmeb-2854	97	40	public	public	ADJ
ajbmeb-2854	97	41	markets	market	NOUN
ajbmeb-2854	97	42	.	.	PUNCT
ajbmeb-2854	98	1	dividend	dividend	NOUN
ajbmeb-2854	98	2	dividend	dividend	NOUN
ajbmeb-2854	98	3	is	be	AUX
ajbmeb-2854	98	4	the	the	DET
ajbmeb-2854	98	5	share	share	NOUN
ajbmeb-2854	98	6	of	of	ADP
ajbmeb-2854	98	7	profit	profit	NOUN
ajbmeb-2854	98	8	that	that	PRON
ajbmeb-2854	98	9	is	be	AUX
ajbmeb-2854	98	10	paid	pay	VERB
ajbmeb-2854	98	11	to	to	ADP
ajbmeb-2854	98	12	shareholders	shareholder	NOUN
ajbmeb-2854	98	13	.	.	PUNCT
ajbmeb-2854	99	1	it	it	PRON
ajbmeb-2854	99	2	is	be	AUX
ajbmeb-2854	99	3	also	also	ADV
ajbmeb-2854	99	4	the	the	DET
ajbmeb-2854	99	5	proportion	proportion	NOUN
ajbmeb-2854	99	6	of	of	ADP
ajbmeb-2854	99	7	profits	profit	NOUN
ajbmeb-2854	99	8	that	that	PRON
ajbmeb-2854	99	9	are	be	AUX
ajbmeb-2854	99	10	distributed	distribute	VERB
ajbmeb-2854	99	11	to	to	ADP
ajbmeb-2854	99	12	the	the	DET
ajbmeb-2854	99	13	shareholders	shareholder	NOUN
ajbmeb-2854	99	14	in	in	ADP
ajbmeb-2854	99	15	an	an	DET
ajbmeb-2854	99	16	amount	amount	NOUN
ajbmeb-2854	99	17	that	that	PRON
ajbmeb-2854	99	18	is	be	AUX
ajbmeb-2854	99	19	proportional	proportional	ADJ
ajbmeb-2854	99	20	to	to	ADP
ajbmeb-2854	99	21	the	the	DET
ajbmeb-2854	99	22	number	number	NOUN
ajbmeb-2854	99	23	of	of	ADP
ajbmeb-2854	99	24	shares	share	NOUN
ajbmeb-2854	99	25	that	that	PRON
ajbmeb-2854	99	26	is	be	AUX
ajbmeb-2854	99	27	owned	own	VERB
ajbmeb-2854	99	28	.	.	PUNCT
ajbmeb-2854	100	1	a	a	DET
ajbmeb-2854	100	2	dividend	dividend	NOUN
ajbmeb-2854	100	3	paying	pay	VERB
ajbmeb-2854	100	4	firm	firm	NOUN
ajbmeb-2854	100	5	is	be	AUX
ajbmeb-2854	100	6	adjudged	adjudge	VERB
ajbmeb-2854	100	7	profitable	profitable	ADJ
ajbmeb-2854	100	8	as	as	SCONJ
ajbmeb-2854	100	9	payment	payment	NOUN
ajbmeb-2854	100	10	of	of	ADP
ajbmeb-2854	100	11	dividends	dividend	NOUN
ajbmeb-2854	100	12	are	be	AUX
ajbmeb-2854	100	13	expected	expect	VERB
ajbmeb-2854	100	14	to	to	PART
ajbmeb-2854	100	15	be	be	AUX
ajbmeb-2854	100	16	made	make	VERB
ajbmeb-2854	100	17	through	through	ADP
ajbmeb-2854	100	18	gains	gain	NOUN
ajbmeb-2854	100	19	derived	derive	VERB
ajbmeb-2854	100	20	from	from	ADP
ajbmeb-2854	100	21	business	business	NOUN
ajbmeb-2854	100	22	activities	activity	NOUN
ajbmeb-2854	100	23	.	.	PUNCT
ajbmeb-2854	101	1	it	it	PRON
ajbmeb-2854	101	2	is	be	AUX
ajbmeb-2854	101	3	sometimes	sometimes	ADV
ajbmeb-2854	101	4	argued	argue	VERB
ajbmeb-2854	101	5	that	that	SCONJ
ajbmeb-2854	101	6	dividend	dividend	NOUN
ajbmeb-2854	101	7	payment	payment	NOUN
ajbmeb-2854	101	8	is	be	AUX
ajbmeb-2854	101	9	a	a	DET
ajbmeb-2854	101	10	signal	signal	NOUN
ajbmeb-2854	101	11	that	that	SCONJ
ajbmeb-2854	101	12	firms	firm	NOUN
ajbmeb-2854	101	13	are	be	AUX
ajbmeb-2854	101	14	doing	do	VERB
ajbmeb-2854	101	15	well	well	ADV
ajbmeb-2854	101	16	and	and	CCONJ
ajbmeb-2854	101	17	that	that	SCONJ
ajbmeb-2854	101	18	there	there	PRON
ajbmeb-2854	101	19	are	be	VERB
ajbmeb-2854	101	20	a	a	DET
ajbmeb-2854	101	21	lot	lot	NOUN
ajbmeb-2854	101	22	of	of	ADP
ajbmeb-2854	101	23	factors	factor	NOUN
ajbmeb-2854	101	24	that	that	PRON
ajbmeb-2854	101	25	impact	impact	VERB
ajbmeb-2854	101	26	dividend	dividend	NOUN
ajbmeb-2854	101	27	payments	payment	NOUN
ajbmeb-2854	101	28	.	.	PUNCT
ajbmeb-2854	102	1	these	these	DET
ajbmeb-2854	102	2	factors	factor	NOUN
ajbmeb-2854	102	3	are	be	AUX
ajbmeb-2854	102	4	the	the	DET
ajbmeb-2854	102	5	funding	funding	NOUN
ajbmeb-2854	102	6	and	and	CCONJ
ajbmeb-2854	102	7	financing	financing	NOUN
ajbmeb-2854	102	8	need	need	NOUN
ajbmeb-2854	102	9	of	of	ADP
ajbmeb-2854	102	10	the	the	DET
ajbmeb-2854	102	11	entity	entity	NOUN
ajbmeb-2854	102	12	,	,	PUNCT
ajbmeb-2854	102	13	the	the	DET
ajbmeb-2854	102	14	tax	tax	NOUN
ajbmeb-2854	102	15	bracket	bracket	NOUN
ajbmeb-2854	102	16	of	of	ADP
ajbmeb-2854	102	17	the	the	DET
ajbmeb-2854	102	18	shareholders	shareholder	NOUN
ajbmeb-2854	102	19	and	and	CCONJ
ajbmeb-2854	102	20	the	the	DET
ajbmeb-2854	102	21	intent	intent	NOUN
ajbmeb-2854	102	22	of	of	ADP
ajbmeb-2854	102	23	managers	manager	NOUN
ajbmeb-2854	102	24	depending	depend	VERB
ajbmeb-2854	102	25	on	on	ADP
ajbmeb-2854	102	26	the	the	DET
ajbmeb-2854	102	27	type	type	NOUN
ajbmeb-2854	102	28	of	of	ADP
ajbmeb-2854	102	29	signals	signal	NOUN
ajbmeb-2854	102	30	they	they	PRON
ajbmeb-2854	102	31	want	want	VERB
ajbmeb-2854	102	32	to	to	PART
ajbmeb-2854	102	33	send	send	VERB
ajbmeb-2854	102	34	to	to	ADP
ajbmeb-2854	102	35	the	the	DET
ajbmeb-2854	102	36	market	market	NOUN
ajbmeb-2854	102	37	.	.	PUNCT
ajbmeb-2854	103	1	the	the	DET
ajbmeb-2854	103	2	firm	firm	NOUN
ajbmeb-2854	103	3	's	's	PART
ajbmeb-2854	103	4	value	value	NOUN
ajbmeb-2854	103	5	can	can	AUX
ajbmeb-2854	103	6	be	be	AUX
ajbmeb-2854	103	7	seen	see	VERB
ajbmeb-2854	103	8	on	on	ADP
ajbmeb-2854	103	9	the	the	DET
ajbmeb-2854	103	10	firm	firm	NOUN
ajbmeb-2854	103	11	's	's	PART
ajbmeb-2854	103	12	ability	ability	NOUN
ajbmeb-2854	103	13	to	to	PART
ajbmeb-2854	103	14	pay	pay	VERB
ajbmeb-2854	103	15	dividends	dividend	NOUN
ajbmeb-2854	103	16	)	)	PUNCT
ajbmeb-2854	103	17	.	.	PUNCT
ajbmeb-2854	104	1	there	there	PRON
ajbmeb-2854	104	2	are	be	VERB
ajbmeb-2854	104	3	circumstances	circumstance	NOUN
ajbmeb-2854	104	4	when	when	SCONJ
ajbmeb-2854	104	5	dividend	dividend	NOUN
ajbmeb-2854	104	6	is	be	AUX
ajbmeb-2854	104	7	not	not	PART
ajbmeb-2854	104	8	distributed	distribute	VERB
ajbmeb-2854	104	9	by	by	ADP
ajbmeb-2854	104	10	the	the	DET
ajbmeb-2854	104	11	firm	firm	NOUN
ajbmeb-2854	104	12	because	because	SCONJ
ajbmeb-2854	104	13	the	the	DET
ajbmeb-2854	104	14	firm	firm	NOUN
ajbmeb-2854	104	15	’s	’s	PART
ajbmeb-2854	104	16	desire	desire	NOUN
ajbmeb-2854	104	17	is	be	AUX
ajbmeb-2854	104	18	to	to	PART
ajbmeb-2854	104	19	plough	plough	VERB
ajbmeb-2854	104	20	back	back	ADP
ajbmeb-2854	104	21	the	the	DET
ajbmeb-2854	104	22	profits	profit	NOUN
ajbmeb-2854	104	23	earned	earn	VERB
ajbmeb-2854	104	24	into	into	ADP
ajbmeb-2854	104	25	the	the	DET
ajbmeb-2854	104	26	business	business	NOUN
ajbmeb-2854	104	27	.	.	PUNCT
ajbmeb-2854	105	1	the	the	DET
ajbmeb-2854	105	2	amount	amount	NOUN
ajbmeb-2854	105	3	of	of	ADP
ajbmeb-2854	105	4	the	the	DET
ajbmeb-2854	105	5	dividend	dividend	NOUN
ajbmeb-2854	105	6	may	may	AUX
ajbmeb-2854	105	7	affect	affect	VERB
ajbmeb-2854	105	8	the	the	DET
ajbmeb-2854	105	9	stock	stock	NOUN
ajbmeb-2854	105	10	price	price	NOUN
ajbmeb-2854	105	11	.	.	PUNCT
ajbmeb-2854	106	1	dividend	dividend	NOUN
ajbmeb-2854	106	2	payment	payment	NOUN
ajbmeb-2854	106	3	is	be	AUX
ajbmeb-2854	106	4	assumed	assume	VERB
ajbmeb-2854	106	5	to	to	PART
ajbmeb-2854	106	6	affect	affect	VERB
ajbmeb-2854	106	7	share	share	NOUN
ajbmeb-2854	106	8	price	price	NOUN
ajbmeb-2854	106	9	.	.	PUNCT
ajbmeb-2854	107	1	high	high	ADJ
ajbmeb-2854	107	2	dividend	dividend	NOUN
ajbmeb-2854	107	3	is	be	AUX
ajbmeb-2854	107	4	expected	expect	VERB
ajbmeb-2854	107	5	to	to	PART
ajbmeb-2854	107	6	make	make	VERB
ajbmeb-2854	107	7	share	share	NOUN
ajbmeb-2854	107	8	prices	price	NOUN
ajbmeb-2854	107	9	high	high	ADJ
ajbmeb-2854	107	10	and	and	CCONJ
ajbmeb-2854	107	11	vice	vice	ADV
ajbmeb-2854	107	12	versa	versa	ADV
ajbmeb-2854	107	13	.	.	PUNCT
ajbmeb-2854	108	1	the	the	DET
ajbmeb-2854	108	2	capacity	capacity	NOUN
ajbmeb-2854	108	3	of	of	ADP
ajbmeb-2854	108	4	a	a	DET
ajbmeb-2854	108	5	firm	firm	NOUN
ajbmeb-2854	108	6	to	to	PART
ajbmeb-2854	108	7	pay	pay	VERB
ajbmeb-2854	108	8	dividend	dividend	NOUN
ajbmeb-2854	108	9	is	be	AUX
ajbmeb-2854	108	10	associated	associate	VERB
ajbmeb-2854	108	11	with	with	ADP
ajbmeb-2854	108	12	its	its	PRON
ajbmeb-2854	108	13	capacity	capacity	NOUN
ajbmeb-2854	108	14	to	to	PART
ajbmeb-2854	108	15	make	make	VERB
ajbmeb-2854	108	16	profit	profit	NOUN
ajbmeb-2854	108	17	.	.	PUNCT
ajbmeb-2854	109	1	when	when	SCONJ
ajbmeb-2854	109	2	firms	firm	NOUN
ajbmeb-2854	109	3	make	make	VERB
ajbmeb-2854	109	4	high	high	ADJ
ajbmeb-2854	109	5	profit	profit	NOUN
ajbmeb-2854	109	6	it	it	PRON
ajbmeb-2854	109	7	is	be	AUX
ajbmeb-2854	109	8	expected	expect	VERB
ajbmeb-2854	109	9	to	to	PART
ajbmeb-2854	109	10	be	be	AUX
ajbmeb-2854	109	11	able	able	ADJ
ajbmeb-2854	109	12	to	to	PART
ajbmeb-2854	109	13	pay	pay	VERB
ajbmeb-2854	109	14	high	high	ADJ
ajbmeb-2854	109	15	dividends	dividend	NOUN
ajbmeb-2854	109	16	.	.	PUNCT
ajbmeb-2854	110	1	huge	huge	ADJ
ajbmeb-2854	110	2	dividends	dividend	NOUN
ajbmeb-2854	110	3	in	in	ADP
ajbmeb-2854	110	4	turn	turn	NOUN
ajbmeb-2854	110	5	is	be	AUX
ajbmeb-2854	110	6	expect	expect	VERB
ajbmeb-2854	110	7	to	to	PART
ajbmeb-2854	110	8	result	result	VERB
ajbmeb-2854	110	9	in	in	ADP
ajbmeb-2854	110	10	high	high	ADJ
ajbmeb-2854	110	11	firm	firm	ADJ
ajbmeb-2854	110	12	value	value	NOUN
ajbmeb-2854	110	13	.	.	PUNCT
ajbmeb-2854	111	1	the	the	DET
ajbmeb-2854	111	2	size	size	NOUN
ajbmeb-2854	111	3	of	of	ADP
ajbmeb-2854	111	4	dividends	dividend	NOUN
ajbmeb-2854	111	5	paid	pay	VERB
ajbmeb-2854	111	6	to	to	ADP
ajbmeb-2854	111	7	shareholders	shareholder	NOUN
ajbmeb-2854	111	8	is	be	AUX
ajbmeb-2854	111	9	a	a	DET
ajbmeb-2854	111	10	function	function	NOUN
ajbmeb-2854	111	11	of	of	ADP
ajbmeb-2854	111	12	the	the	DET
ajbmeb-2854	111	13	dividend	dividend	NOUN
ajbmeb-2854	111	14	policy	policy	NOUN
ajbmeb-2854	111	15	of	of	ADP
ajbmeb-2854	111	16	each	each	DET
ajbmeb-2854	111	17	firm	firm	NOUN
ajbmeb-2854	111	18	which	which	PRON
ajbmeb-2854	111	19	is	be	AUX
ajbmeb-2854	111	20	based	base	VERB
ajbmeb-2854	111	21	on	on	ADP
ajbmeb-2854	111	22	many	many	ADJ
ajbmeb-2854	111	23	factors	factor	NOUN
ajbmeb-2854	111	24	.	.	PUNCT
ajbmeb-2854	112	1	gitman	gitman	NOUN
ajbmeb-2854	112	2	(	(	PUNCT
ajbmeb-2854	112	3	2003	2003	NUM
ajbmeb-2854	112	4	)	)	PUNCT
ajbmeb-2854	112	5	suggest	suggest	VERB
ajbmeb-2854	112	6	that	that	SCONJ
ajbmeb-2854	112	7	firm	firm	ADJ
ajbmeb-2854	112	8	level	level	NOUN
ajbmeb-2854	112	9	factors	factor	NOUN
ajbmeb-2854	112	10	that	that	PRON
ajbmeb-2854	112	11	impact	impact	NOUN
ajbmeb-2854	112	12	dividend	dividend	NOUN
ajbmeb-2854	112	13	policy	policy	NOUN
ajbmeb-2854	112	14	are	be	AUX
ajbmeb-2854	112	15	cash	cash	NOUN
ajbmeb-2854	112	16	position	position	NOUN
ajbmeb-2854	112	17	,	,	PUNCT
ajbmeb-2854	112	18	debt	debt	NOUN
ajbmeb-2854	112	19	covenants	covenant	NOUN
ajbmeb-2854	112	20	,	,	PUNCT
ajbmeb-2854	112	21	growth	growth	NOUN
ajbmeb-2854	112	22	prospects	prospect	NOUN
ajbmeb-2854	112	23	of	of	ADP
ajbmeb-2854	112	24	the	the	DET
ajbmeb-2854	112	25	firm	firm	NOUN
ajbmeb-2854	112	26	,	,	PUNCT
ajbmeb-2854	112	27	liquidity	liquidity	NOUN
ajbmeb-2854	112	28	and	and	CCONJ
ajbmeb-2854	112	29	majority	majority	NOUN
ajbmeb-2854	112	30	shareholders	shareholder	NOUN
ajbmeb-2854	112	31	control	control	PROPN
ajbmeb-2854	112	32	power	power	NOUN
ajbmeb-2854	112	33	.	.	PUNCT
ajbmeb-2854	113	1	dividends	dividend	NOUN
ajbmeb-2854	113	2	contain	contain	VERB
ajbmeb-2854	113	3	information	information	NOUN
ajbmeb-2854	113	4	that	that	PRON
ajbmeb-2854	113	5	indicate	indicate	VERB
ajbmeb-2854	113	6	the	the	DET
ajbmeb-2854	113	7	firm	firm	NOUN
ajbmeb-2854	113	8	's	's	PART
ajbmeb-2854	113	9	future	future	ADJ
ajbmeb-2854	113	10	prospects	prospect	NOUN
ajbmeb-2854	113	11	.	.	PUNCT
ajbmeb-2854	114	1	the	the	PRON
ajbmeb-2854	114	2	greater	great	ADJ
ajbmeb-2854	114	3	the	the	DET
ajbmeb-2854	114	4	dividends	dividend	NOUN
ajbmeb-2854	114	5	distributed	distribute	VERB
ajbmeb-2854	114	6	to	to	ADP
ajbmeb-2854	114	7	shareholders	shareholder	NOUN
ajbmeb-2854	114	8	,	,	PUNCT
ajbmeb-2854	114	9	the	the	DET
ajbmeb-2854	114	10	firm	firm	NOUN
ajbmeb-2854	114	11	's	's	PART
ajbmeb-2854	114	12	performance	performance	NOUN
ajbmeb-2854	114	13	would	would	AUX
ajbmeb-2854	114	14	be	be	AUX
ajbmeb-2854	114	15	considered	consider	VERB
ajbmeb-2854	114	16	the	the	DET
ajbmeb-2854	114	17	better	well	ADJ
ajbmeb-2854	114	18	,	,	PUNCT
ajbmeb-2854	114	19	and	and	CCONJ
ajbmeb-2854	114	20	ultimately	ultimately	ADV
ajbmeb-2854	114	21	an	an	DET
ajbmeb-2854	114	22	assessment	assessment	NOUN
ajbmeb-2854	114	23	of	of	ADP
ajbmeb-2854	114	24	the	the	DET
ajbmeb-2854	114	25	firm	firm	NOUN
ajbmeb-2854	114	26	as	as	SCONJ
ajbmeb-2854	114	27	reflected	reflect	VERB
ajbmeb-2854	114	28	by	by	ADP
ajbmeb-2854	114	29	the	the	DET
ajbmeb-2854	114	30	share	share	NOUN
ajbmeb-2854	114	31	price	price	NOUN
ajbmeb-2854	114	32	will	will	AUX
ajbmeb-2854	114	33	be	be	AUX
ajbmeb-2854	114	34	the	the	DET
ajbmeb-2854	114	35	better	well	ADJ
ajbmeb-2854	114	36	.	.	PUNCT
ajbmeb-2854	115	1	bhattacharya	bhattacharya	PROPN
ajbmeb-2854	115	2	(	(	PUNCT
ajbmeb-2854	115	3	1979	1979	NUM
ajbmeb-2854	115	4	)	)	PUNCT
ajbmeb-2854	115	5	argued	argue	VERB
ajbmeb-2854	115	6	that	that	SCONJ
ajbmeb-2854	115	7	high	high	ADJ
ajbmeb-2854	115	8	dividend	dividend	NOUN
ajbmeb-2854	115	9	indicate	indicate	VERB
ajbmeb-2854	115	10	high	high	ADJ
ajbmeb-2854	115	11	amount	amount	NOUN
ajbmeb-2854	115	12	of	of	ADP
ajbmeb-2854	115	13	cash	cash	NOUN
ajbmeb-2854	115	14	flows	flow	NOUN
ajbmeb-2854	115	15	in	in	ADP
ajbmeb-2854	115	16	future	future	ADJ
ajbmeb-2854	115	17	and	and	CCONJ
ajbmeb-2854	115	18	growth	growth	NOUN
ajbmeb-2854	115	19	prospects	prospect	NOUN
ajbmeb-2854	115	20	thereby	thereby	ADV
ajbmeb-2854	115	21	indicating	indicate	VERB
ajbmeb-2854	115	22	higher	high	ADJ
ajbmeb-2854	115	23	future	future	ADJ
ajbmeb-2854	115	24	dividends	dividend	NOUN
ajbmeb-2854	115	25	and	and	CCONJ
ajbmeb-2854	115	26	higher	high	ADJ
ajbmeb-2854	115	27	firm	firm	ADJ
ajbmeb-2854	115	28	value	value	NOUN
ajbmeb-2854	115	29	.	.	PUNCT
ajbmeb-2854	116	1	inflation	inflation	NOUN
ajbmeb-2854	116	2	inflation	inflation	NOUN
ajbmeb-2854	116	3	is	be	AUX
ajbmeb-2854	116	4	a	a	DET
ajbmeb-2854	116	5	general	general	ADJ
ajbmeb-2854	116	6	increase	increase	NOUN
ajbmeb-2854	116	7	in	in	ADP
ajbmeb-2854	116	8	the	the	DET
ajbmeb-2854	116	9	money	money	NOUN
ajbmeb-2854	116	10	supply	supply	NOUN
ajbmeb-2854	116	11	.	.	PUNCT
ajbmeb-2854	117	1	inflation	inflation	NOUN
ajbmeb-2854	117	2	affects	affect	VERB
ajbmeb-2854	117	3	the	the	DET
ajbmeb-2854	117	4	whole	whole	ADJ
ajbmeb-2854	117	5	economy	economy	NOUN
ajbmeb-2854	117	6	of	of	ADP
ajbmeb-2854	117	7	the	the	DET
ajbmeb-2854	117	8	countries	country	NOUN
ajbmeb-2854	117	9	.	.	PUNCT
ajbmeb-2854	118	1	this	this	PRON
ajbmeb-2854	118	2	shows	show	VERB
ajbmeb-2854	118	3	that	that	SCONJ
ajbmeb-2854	118	4	inflation	inflation	NOUN
ajbmeb-2854	118	5	was	be	AUX
ajbmeb-2854	118	6	very	very	ADV
ajbmeb-2854	118	7	dangerous	dangerous	ADJ
ajbmeb-2854	118	8	for	for	ADP
ajbmeb-2854	118	9	all	all	DET
ajbmeb-2854	118	10	countries	country	NOUN
ajbmeb-2854	118	11	.	.	PUNCT
ajbmeb-2854	119	1	in	in	ADP
ajbmeb-2854	119	2	short	short	ADJ
ajbmeb-2854	119	3	run	run	NOUN
ajbmeb-2854	119	4	there	there	PRON
ajbmeb-2854	119	5	was	be	VERB
ajbmeb-2854	119	6	inverse	inverse	ADJ
ajbmeb-2854	119	7	relationship	relationship	NOUN
ajbmeb-2854	119	8	of	of	ADP
ajbmeb-2854	119	9	inflation	inflation	NOUN
ajbmeb-2854	119	10	between	between	ADP
ajbmeb-2854	119	11	unemployment	unemployment	NOUN
ajbmeb-2854	119	12	,	,	PUNCT
ajbmeb-2854	119	13	increase	increase	NOUN
ajbmeb-2854	119	14	in	in	ADP
ajbmeb-2854	119	15	inflation	inflation	NOUN
ajbmeb-2854	119	16	leads	lead	VERB
ajbmeb-2854	119	17	to	to	PART
ajbmeb-2854	119	18	decrease	decrease	VERB
ajbmeb-2854	119	19	in	in	ADP
ajbmeb-2854	119	20	unemployment	unemployment	NOUN
ajbmeb-2854	119	21	and	and	CCONJ
ajbmeb-2854	119	22	vice	vice	ADV
ajbmeb-2854	119	23	versa	versa	ADV
ajbmeb-2854	119	24	(	(	PUNCT
ajbmeb-2854	119	25	katria	katria	PROPN
ajbmeb-2854	119	26	,	,	PUNCT
ajbmeb-2854	119	27	2010	2010	NUM
ajbmeb-2854	119	28	)	)	PUNCT
ajbmeb-2854	119	29	.	.	PUNCT
ajbmeb-2854	120	1	in	in	ADP
ajbmeb-2854	120	2	a	a	DET
ajbmeb-2854	120	3	forecast	forecast	NOUN
ajbmeb-2854	120	4	context	context	NOUN
ajbmeb-2854	120	5	,	,	PUNCT
ajbmeb-2854	120	6	projections	projection	NOUN
ajbmeb-2854	120	7	of	of	ADP
ajbmeb-2854	120	8	overall	overall	ADJ
ajbmeb-2854	120	9	consumer	consumer	NOUN
ajbmeb-2854	120	10	price	price	NOUN
ajbmeb-2854	120	11	inflation	inflation	NOUN
ajbmeb-2854	120	12	often	often	ADV
ajbmeb-2854	120	13	converge	converge	VERB
ajbmeb-2854	120	14	to	to	ADP
ajbmeb-2854	120	15	recent	recent	ADJ
ajbmeb-2854	120	16	values	value	NOUN
ajbmeb-2854	120	17	of	of	ADP
ajbmeb-2854	120	18	inflation	inflation	NOUN
ajbmeb-2854	120	19	measured	measure	VERB
ajbmeb-2854	120	20	from	from	ADP
ajbmeb-2854	120	21	consumer	consumer	NOUN
ajbmeb-2854	120	22	prices	price	NOUN
ajbmeb-2854	120	23	apart	apart	ADV
ajbmeb-2854	120	24	from	from	ADP
ajbmeb-2854	120	25	food	food	NOUN
ajbmeb-2854	120	26	and	and	CCONJ
ajbmeb-2854	120	27	energy	energy	NOUN
ajbmeb-2854	120	28	prices	price	NOUN
ajbmeb-2854	120	29	(	(	PUNCT
ajbmeb-2854	120	30	kiley	kiley	PROPN
ajbmeb-2854	120	31	,	,	PUNCT
ajbmeb-2854	120	32	2008	2008	NUM
ajbmeb-2854	120	33	)	)	PUNCT
ajbmeb-2854	120	34	.	.	PUNCT
ajbmeb-2854	121	1	interest	interest	NOUN
ajbmeb-2854	121	2	rate	rate	NOUN
ajbmeb-2854	121	3	is	be	AUX
ajbmeb-2854	121	4	used	use	VERB
ajbmeb-2854	121	5	to	to	PART
ajbmeb-2854	121	6	control	control	VERB
ajbmeb-2854	121	7	the	the	DET
ajbmeb-2854	121	8	inflation	inflation	NOUN
ajbmeb-2854	121	9	rate	rate	NOUN
ajbmeb-2854	121	10	because	because	SCONJ
ajbmeb-2854	121	11	when	when	SCONJ
ajbmeb-2854	121	12	then	then	ADV
ajbmeb-2854	121	13	prices	price	NOUN
ajbmeb-2854	121	14	of	of	ADP
ajbmeb-2854	121	15	products	product	NOUN
ajbmeb-2854	121	16	become	become	VERB
ajbmeb-2854	121	17	high	high	ADJ
ajbmeb-2854	121	18	it	it	PRON
ajbmeb-2854	121	19	’s	’s	ADV
ajbmeb-2854	121	20	discourage	discourage	VERB
ajbmeb-2854	121	21	the	the	DET
ajbmeb-2854	121	22	customers	customer	NOUN
ajbmeb-2854	121	23	.	.	PUNCT
ajbmeb-2854	122	1	this	this	DET
ajbmeb-2854	122	2	situation	situation	NOUN
ajbmeb-2854	122	3	is	be	AUX
ajbmeb-2854	122	4	not	not	PART
ajbmeb-2854	122	5	good	good	ADJ
ajbmeb-2854	122	6	for	for	ADP
ajbmeb-2854	122	7	economy	economy	NOUN
ajbmeb-2854	122	8	.	.	PUNCT
ajbmeb-2854	123	1	american	american	ADJ
ajbmeb-2854	123	2	journal	journal	PROPN
ajbmeb-2854	123	3	of	of	ADP
ajbmeb-2854	123	4	business	business	NOUN
ajbmeb-2854	123	5	management	management	NOUN
ajbmeb-2854	123	6	,	,	PUNCT
ajbmeb-2854	123	7	economics	economic	NOUN
ajbmeb-2854	123	8	and	and	CCONJ
ajbmeb-2854	123	9	banking	banking	NOUN
ajbmeb-2854	123	10	volume	volume	NOUN
ajbmeb-2854	123	11	35	35	NUM
ajbmeb-2854	123	12	april	april	PROPN
ajbmeb-2854	123	13	2025	2025	NUM
ajbmeb-2854	123	14	p	p	NOUN
ajbmeb-2854	123	15	a	a	DET
ajbmeb-2854	123	16	g	g	NOUN
ajbmeb-2854	123	17	e	e	NOUN
ajbmeb-2854	123	18	|	|	ADV
ajbmeb-2854	123	19	49	49	NUM
ajbmeb-2854	123	20	www.americanjournal.org	www.americanjournal.org	NOUN
ajbmeb-2854	123	21	figure	figure	NOUN
ajbmeb-2854	123	22	1	1	NUM
ajbmeb-2854	123	23	:	:	PUNCT
ajbmeb-2854	123	24	conceptualized	conceptualize	VERB
ajbmeb-2854	123	25	framework	framework	NOUN
ajbmeb-2854	123	26	of	of	ADP
ajbmeb-2854	123	27	dividend	dividend	NOUN
ajbmeb-2854	123	28	payout	payout	NOUN
ajbmeb-2854	123	29	,	,	PUNCT
ajbmeb-2854	123	30	market	market	NOUN
ajbmeb-2854	123	31	capitalization	capitalization	NOUN
ajbmeb-2854	123	32	and	and	CCONJ
ajbmeb-2854	123	33	market	market	NOUN
ajbmeb-2854	123	34	value	value	NOUN
ajbmeb-2854	123	35	of	of	ADP
ajbmeb-2854	123	36	manufacturing	manufacturing	NOUN
ajbmeb-2854	123	37	firms	firm	NOUN
ajbmeb-2854	123	38	in	in	ADP
ajbmeb-2854	123	39	nigeria	nigeria	PROPN
ajbmeb-2854	123	40	empirical	empirical	ADJ
ajbmeb-2854	123	41	review	review	NOUN
ajbmeb-2854	123	42	the	the	DET
ajbmeb-2854	123	43	empirical	empirical	ADJ
ajbmeb-2854	123	44	evidence	evidence	NOUN
ajbmeb-2854	123	45	revealed	reveal	VERB
ajbmeb-2854	123	46	in	in	ADP
ajbmeb-2854	123	47	the	the	DET
ajbmeb-2854	123	48	literature	literature	NOUN
ajbmeb-2854	123	49	show	show	VERB
ajbmeb-2854	123	50	that	that	SCONJ
ajbmeb-2854	123	51	firm	firm	ADJ
ajbmeb-2854	123	52	value	value	NOUN
ajbmeb-2854	123	53	is	be	AUX
ajbmeb-2854	123	54	dependent	dependent	ADJ
ajbmeb-2854	123	55	on	on	ADP
ajbmeb-2854	123	56	endogenous	endogenous	ADJ
ajbmeb-2854	123	57	as	as	ADV
ajbmeb-2854	123	58	well	well	ADV
ajbmeb-2854	123	59	as	as	ADP
ajbmeb-2854	123	60	exogenous	exogenous	ADJ
ajbmeb-2854	123	61	factors	factor	NOUN
ajbmeb-2854	123	62	.	.	PUNCT
ajbmeb-2854	124	1	however	however	ADV
ajbmeb-2854	124	2	,	,	PUNCT
ajbmeb-2854	124	3	attempts	attempt	VERB
ajbmeb-2854	124	4	to	to	PART
ajbmeb-2854	124	5	situate	situate	VERB
ajbmeb-2854	124	6	role	role	NOUN
ajbmeb-2854	124	7	of	of	ADP
ajbmeb-2854	124	8	dividends	dividend	NOUN
ajbmeb-2854	124	9	in	in	ADP
ajbmeb-2854	124	10	firm	firm	ADJ
ajbmeb-2854	124	11	value	value	NOUN
ajbmeb-2854	124	12	through	through	ADP
ajbmeb-2854	124	13	scholarly	scholarly	ADJ
ajbmeb-2854	124	14	studies	study	NOUN
ajbmeb-2854	124	15	and	and	CCONJ
ajbmeb-2854	124	16	theoretical	theoretical	ADJ
ajbmeb-2854	124	17	postulations	postulation	NOUN
ajbmeb-2854	124	18	revealed	reveal	VERB
ajbmeb-2854	124	19	mixed	mixed	ADJ
ajbmeb-2854	124	20	result	result	NOUN
ajbmeb-2854	124	21	.	.	PUNCT
ajbmeb-2854	125	1	according	accord	VERB
ajbmeb-2854	125	2	to	to	ADP
ajbmeb-2854	125	3	miller	miller	PROPN
ajbmeb-2854	125	4	and	and	CCONJ
ajbmeb-2854	125	5	modigliani	modigliani	PROPN
ajbmeb-2854	125	6	(	(	PUNCT
ajbmeb-2854	125	7	1961	1961	NUM
ajbmeb-2854	125	8	)	)	PUNCT
ajbmeb-2854	125	9	through	through	ADP
ajbmeb-2854	125	10	dividends	dividend	NOUN
ajbmeb-2854	125	11	irrelevant	irrelevant	ADJ
ajbmeb-2854	125	12	theory	theory	NOUN
ajbmeb-2854	125	13	,	,	PUNCT
ajbmeb-2854	125	14	dividend	dividend	NOUN
ajbmeb-2854	125	15	decision	decision	NOUN
ajbmeb-2854	125	16	does	do	AUX
ajbmeb-2854	125	17	not	not	PART
ajbmeb-2854	125	18	affect	affect	VERB
ajbmeb-2854	125	19	the	the	DET
ajbmeb-2854	125	20	firm	firm	NOUN
ajbmeb-2854	125	21	’s	’s	PART
ajbmeb-2854	125	22	value	value	NOUN
ajbmeb-2854	125	23	and	and	CCONJ
ajbmeb-2854	125	24	is	be	AUX
ajbmeb-2854	125	25	therefore	therefore	ADV
ajbmeb-2854	125	26	irrelevant	irrelevant	ADJ
ajbmeb-2854	125	27	under	under	ADP
ajbmeb-2854	125	28	assumptions	assumption	NOUN
ajbmeb-2854	125	29	of	of	ADP
ajbmeb-2854	125	30	perfect	perfect	ADJ
ajbmeb-2854	125	31	market	market	NOUN
ajbmeb-2854	125	32	conditions	condition	NOUN
ajbmeb-2854	125	33	;	;	PUNCT
ajbmeb-2854	125	34	no	no	DET
ajbmeb-2854	125	35	taxes	taxis	NOUN
ajbmeb-2854	125	36	,	,	PUNCT
ajbmeb-2854	125	37	no	no	DET
ajbmeb-2854	125	38	transaction	transaction	NOUN
ajbmeb-2854	125	39	costs	cost	NOUN
ajbmeb-2854	125	40	,	,	PUNCT
ajbmeb-2854	125	41	perfect	perfect	ADJ
ajbmeb-2854	125	42	competition	competition	NOUN
ajbmeb-2854	125	43	and	and	CCONJ
ajbmeb-2854	125	44	costless	costless	NOUN
ajbmeb-2854	125	45	information	information	NOUN
ajbmeb-2854	125	46	.	.	PUNCT
ajbmeb-2854	126	1	other	other	ADJ
ajbmeb-2854	126	2	renowned	renowned	ADJ
ajbmeb-2854	126	3	finance	finance	NOUN
ajbmeb-2854	126	4	scholars	scholar	NOUN
ajbmeb-2854	126	5	who	who	PRON
ajbmeb-2854	126	6	agreed	agree	VERB
ajbmeb-2854	126	7	with	with	ADP
ajbmeb-2854	126	8	modigliani	modigliani	PROPN
ajbmeb-2854	126	9	and	and	CCONJ
ajbmeb-2854	126	10	miller	miller	PROPN
ajbmeb-2854	126	11	(	(	PUNCT
ajbmeb-2854	126	12	1961	1961	NUM
ajbmeb-2854	126	13	)	)	PUNCT
ajbmeb-2854	126	14	are	be	AUX
ajbmeb-2854	126	15	de	de	X
ajbmeb-2854	126	16	angelo	angelo	PROPN
ajbmeb-2854	126	17	et	et	PROPN
ajbmeb-2854	126	18	al	al	PROPN
ajbmeb-2854	126	19	.	.	PROPN
ajbmeb-2854	127	1	(	(	PUNCT
ajbmeb-2854	127	2	1996	1996	NUM
ajbmeb-2854	127	3	)	)	PUNCT
ajbmeb-2854	127	4	,	,	PUNCT
ajbmeb-2854	127	5	lang	lang	PROPN
ajbmeb-2854	127	6	and	and	CCONJ
ajbmeb-2854	127	7	litzenberger	litzenberger	NOUN
ajbmeb-2854	127	8	(	(	PUNCT
ajbmeb-2854	127	9	1989	1989	NUM
ajbmeb-2854	127	10	)	)	PUNCT
ajbmeb-2854	127	11	.	.	PUNCT
ajbmeb-2854	128	1	there	there	PRON
ajbmeb-2854	128	2	are	be	VERB
ajbmeb-2854	128	3	other	other	ADJ
ajbmeb-2854	128	4	scholars	scholar	NOUN
ajbmeb-2854	128	5	who	who	PRON
ajbmeb-2854	128	6	hold	hold	VERB
ajbmeb-2854	128	7	that	that	SCONJ
ajbmeb-2854	128	8	dividends	dividend	NOUN
ajbmeb-2854	128	9	are	be	AUX
ajbmeb-2854	128	10	relevant	relevant	ADJ
ajbmeb-2854	128	11	.	.	PUNCT
ajbmeb-2854	129	1	they	they	PRON
ajbmeb-2854	129	2	include	include	VERB
ajbmeb-2854	129	3	watts	watt	NOUN
ajbmeb-2854	129	4	(	(	PUNCT
ajbmeb-2854	129	5	1973	1973	NUM
ajbmeb-2854	129	6	)	)	PUNCT
ajbmeb-2854	129	7	,	,	PUNCT
ajbmeb-2854	129	8	lintner	lintner	NOUN
ajbmeb-2854	129	9	(	(	PUNCT
ajbmeb-2854	129	10	1956	1956	NUM
ajbmeb-2854	129	11	)	)	PUNCT
ajbmeb-2854	129	12	,	,	PUNCT
ajbmeb-2854	129	13	miller	miller	PROPN
ajbmeb-2854	129	14	(	(	PUNCT
ajbmeb-2854	129	15	1987	1987	NUM
ajbmeb-2854	129	16	)	)	PUNCT
ajbmeb-2854	129	17	,	,	PUNCT
ajbmeb-2854	129	18	aharony	aharony	NOUN
ajbmeb-2854	129	19	and	and	CCONJ
ajbmeb-2854	129	20	swary	swary	ADJ
ajbmeb-2854	129	21	(	(	PUNCT
ajbmeb-2854	129	22	1980	1980	NUM
ajbmeb-2854	129	23	)	)	PUNCT
ajbmeb-2854	129	24	,	,	PUNCT
ajbmeb-2854	129	25	asquith	asquith	PROPN
ajbmeb-2854	129	26	and	and	CCONJ
ajbmeb-2854	129	27	mullins	mullins	PROPN
ajbmeb-2854	129	28	(	(	PUNCT
ajbmeb-2854	129	29	1983),pettit	1983),pettit	NUM
ajbmeb-2854	129	30	(	(	PUNCT
ajbmeb-2854	129	31	1972	1972	NUM
ajbmeb-2854	129	32	)	)	PUNCT
ajbmeb-2854	129	33	,	,	PUNCT
ajbmeb-2854	129	34	benartzi	benartzi	NOUN
ajbmeb-2854	129	35	,	,	PUNCT
ajbmeb-2854	129	36	michealy	michealy	NOUN
ajbmeb-2854	129	37	,	,	PUNCT
ajbmeb-2854	129	38	and	and	CCONJ
ajbmeb-2854	129	39	thaler	thaler	NOUN
ajbmeb-2854	129	40	(	(	PUNCT
ajbmeb-2854	129	41	1997	1997	NUM
ajbmeb-2854	129	42	)	)	PUNCT
ajbmeb-2854	129	43	.	.	PUNCT
ajbmeb-2854	130	1	theoretical	theoretical	ADJ
ajbmeb-2854	130	2	postulations	postulation	NOUN
ajbmeb-2854	130	3	under	under	ADP
ajbmeb-2854	130	4	the	the	DET
ajbmeb-2854	130	5	bird	bird	NOUN
ajbmeb-2854	130	6	in	in	ADP
ajbmeb-2854	130	7	hand	hand	NOUN
ajbmeb-2854	130	8	theory	theory	NOUN
ajbmeb-2854	130	9	,	,	PUNCT
ajbmeb-2854	130	10	signaling	signal	VERB
ajbmeb-2854	130	11	theory	theory	NOUN
ajbmeb-2854	130	12	support	support	NOUN
ajbmeb-2854	130	13	findings	finding	NOUN
ajbmeb-2854	130	14	by	by	ADP
ajbmeb-2854	130	15	scholars	scholar	NOUN
ajbmeb-2854	130	16	that	that	PRON
ajbmeb-2854	130	17	dividend	dividend	NOUN
ajbmeb-2854	130	18	is	be	AUX
ajbmeb-2854	130	19	relevant	relevant	ADJ
ajbmeb-2854	130	20	for	for	ADP
ajbmeb-2854	130	21	firm	firm	ADJ
ajbmeb-2854	130	22	value	value	NOUN
ajbmeb-2854	130	23	.	.	PUNCT
ajbmeb-2854	131	1	this	this	DET
ajbmeb-2854	131	2	conflicting	conflicting	ADJ
ajbmeb-2854	131	3	theoretical	theoretical	ADJ
ajbmeb-2854	131	4	propositions	proposition	NOUN
ajbmeb-2854	131	5	and	and	CCONJ
ajbmeb-2854	131	6	mixed	mixed	ADJ
ajbmeb-2854	131	7	result	result	NOUN
ajbmeb-2854	131	8	from	from	ADP
ajbmeb-2854	131	9	prior	prior	ADJ
ajbmeb-2854	131	10	studies	study	NOUN
ajbmeb-2854	131	11	exacerbate	exacerbate	VERB
ajbmeb-2854	131	12	the	the	DET
ajbmeb-2854	131	13	debate	debate	NOUN
ajbmeb-2854	131	14	on	on	ADP
ajbmeb-2854	131	15	the	the	DET
ajbmeb-2854	131	16	subject	subject	NOUN
ajbmeb-2854	131	17	.	.	PUNCT
ajbmeb-2854	132	1	obayagbona	obayagbona	NOUN
ajbmeb-2854	132	2	and	and	CCONJ
ajbmeb-2854	132	3	akinuli	akinuli	PROPN
ajbmeb-2854	132	4	(	(	PUNCT
ajbmeb-2854	132	5	2024	2024	NUM
ajbmeb-2854	132	6	)	)	PUNCT
ajbmeb-2854	132	7	assessed	assess	VERB
ajbmeb-2854	132	8	the	the	DET
ajbmeb-2854	132	9	impact	impact	NOUN
ajbmeb-2854	132	10	of	of	ADP
ajbmeb-2854	132	11	dividend	dividend	NOUN
ajbmeb-2854	132	12	policy	policy	NOUN
ajbmeb-2854	132	13	on	on	ADP
ajbmeb-2854	132	14	nigerian	nigerian	ADJ
ajbmeb-2854	132	15	consumer	consumer	NOUN
ajbmeb-2854	132	16	goods	good	NOUN
ajbmeb-2854	132	17	companies	company	NOUN
ajbmeb-2854	132	18	,	,	PUNCT
ajbmeb-2854	132	19	by	by	ADP
ajbmeb-2854	132	20	examining	examine	VERB
ajbmeb-2854	132	21	the	the	DET
ajbmeb-2854	132	22	effects	effect	NOUN
ajbmeb-2854	132	23	of	of	ADP
ajbmeb-2854	132	24	dividend	dividend	NOUN
ajbmeb-2854	132	25	payout	payout	NOUN
ajbmeb-2854	132	26	,	,	PUNCT
ajbmeb-2854	132	27	dividend	dividend	NOUN
ajbmeb-2854	132	28	yield	yield	NOUN
ajbmeb-2854	132	29	,	,	PUNCT
ajbmeb-2854	132	30	and	and	CCONJ
ajbmeb-2854	132	31	firm	firm	ADJ
ajbmeb-2854	132	32	size	size	NOUN
ajbmeb-2854	132	33	on	on	ADP
ajbmeb-2854	132	34	financial	financial	ADJ
ajbmeb-2854	132	35	performance	performance	NOUN
ajbmeb-2854	132	36	over	over	ADP
ajbmeb-2854	132	37	a	a	DET
ajbmeb-2854	132	38	ten	ten	NUM
ajbmeb-2854	132	39	year	year	NOUN
ajbmeb-2854	132	40	period	period	NOUN
ajbmeb-2854	132	41	(	(	PUNCT
ajbmeb-2854	132	42	2012	2012	NUM
ajbmeb-2854	132	43	-	-	SYM
ajbmeb-2854	132	44	2021	2021	NUM
ajbmeb-2854	132	45	)	)	PUNCT
ajbmeb-2854	132	46	.	.	PUNCT
ajbmeb-2854	133	1	the	the	DET
ajbmeb-2854	133	2	findings	finding	NOUN
ajbmeb-2854	133	3	indicate	indicate	VERB
ajbmeb-2854	133	4	that	that	DET
ajbmeb-2854	133	5	dividend	dividend	NOUN
ajbmeb-2854	133	6	payout	payout	NOUN
ajbmeb-2854	133	7	,	,	PUNCT
ajbmeb-2854	133	8	dividend	dividend	NOUN
ajbmeb-2854	133	9	yield	yield	NOUN
ajbmeb-2854	133	10	,	,	PUNCT
ajbmeb-2854	133	11	and	and	CCONJ
ajbmeb-2854	133	12	firm	firm	ADJ
ajbmeb-2854	133	13	size	size	NOUN
ajbmeb-2854	133	14	exerted	exert	VERB
ajbmeb-2854	133	15	a	a	DET
ajbmeb-2854	133	16	positive	positive	ADJ
ajbmeb-2854	133	17	and	and	CCONJ
ajbmeb-2854	133	18	significant	significant	ADJ
ajbmeb-2854	133	19	influence	influence	NOUN
ajbmeb-2854	133	20	on	on	ADP
ajbmeb-2854	133	21	return	return	NOUN
ajbmeb-2854	133	22	on	on	ADP
ajbmeb-2854	133	23	assets	asset	NOUN
ajbmeb-2854	133	24	,	,	PUNCT
ajbmeb-2854	133	25	while	while	SCONJ
ajbmeb-2854	133	26	firm	firm	ADJ
ajbmeb-2854	133	27	liquidity	liquidity	NOUN
ajbmeb-2854	133	28	demonstrated	demonstrate	VERB
ajbmeb-2854	133	29	a	a	DET
ajbmeb-2854	133	30	substantial	substantial	ADJ
ajbmeb-2854	133	31	adverse	adverse	ADJ
ajbmeb-2854	133	32	influence	influence	NOUN
ajbmeb-2854	133	33	on	on	ADP
ajbmeb-2854	133	34	the	the	DET
ajbmeb-2854	133	35	financial	financial	ADJ
ajbmeb-2854	133	36	performance	performance	NOUN
ajbmeb-2854	133	37	sanni	sanni	NOUN
ajbmeb-2854	133	38	(	(	PUNCT
ajbmeb-2854	133	39	2022	2022	NUM
ajbmeb-2854	133	40	)	)	PUNCT
ajbmeb-2854	133	41	investigated	investigate	VERB
ajbmeb-2854	133	42	the	the	DET
ajbmeb-2854	133	43	effect	effect	NOUN
ajbmeb-2854	133	44	of	of	ADP
ajbmeb-2854	133	45	dividend	dividend	NOUN
ajbmeb-2854	133	46	policy	policy	NOUN
ajbmeb-2854	133	47	on	on	ADP
ajbmeb-2854	133	48	the	the	DET
ajbmeb-2854	133	49	financial	financial	ADJ
ajbmeb-2854	133	50	performance	performance	NOUN
ajbmeb-2854	133	51	(	(	PUNCT
ajbmeb-2854	133	52	return	return	VERB
ajbmeb-2854	133	53	on	on	ADP
ajbmeb-2854	133	54	assets	asset	NOUN
ajbmeb-2854	133	55	)	)	PUNCT
ajbmeb-2854	133	56	of	of	ADP
ajbmeb-2854	133	57	firms	firm	NOUN
ajbmeb-2854	133	58	listed	list	VERB
ajbmeb-2854	133	59	in	in	ADP
ajbmeb-2854	133	60	food	food	NOUN
ajbmeb-2854	133	61	and	and	CCONJ
ajbmeb-2854	133	62	beverage	beverage	NOUN
ajbmeb-2854	133	63	industry	industry	NOUN
ajbmeb-2854	133	64	in	in	ADP
ajbmeb-2854	133	65	nigeria	nigeria	PROPN
ajbmeb-2854	133	66	over	over	ADP
ajbmeb-2854	133	67	a	a	DET
ajbmeb-2854	133	68	period	period	NOUN
ajbmeb-2854	133	69	of	of	ADP
ajbmeb-2854	133	70	ten	ten	NUM
ajbmeb-2854	133	71	years	year	NOUN
ajbmeb-2854	133	72	,	,	PUNCT
ajbmeb-2854	133	73	from	from	ADP
ajbmeb-2854	133	74	2010	2010	NUM
ajbmeb-2854	133	75	to	to	ADP
ajbmeb-2854	133	76	2019	2019	NUM
ajbmeb-2854	133	77	.	.	PUNCT
ajbmeb-2854	134	1	panel	panel	NOUN
ajbmeb-2854	134	2	data	datum	NOUN
ajbmeb-2854	134	3	from	from	ADP
ajbmeb-2854	134	4	audited	audit	VERB
ajbmeb-2854	134	5	financial	financial	ADJ
ajbmeb-2854	134	6	statements	statement	NOUN
ajbmeb-2854	134	7	from	from	ADP
ajbmeb-2854	134	8	14	14	NUM
ajbmeb-2854	134	9	purposely	purposely	ADV
ajbmeb-2854	134	10	selected	select	VERB
ajbmeb-2854	134	11	firms	firm	NOUN
ajbmeb-2854	134	12	in	in	ADP
ajbmeb-2854	134	13	the	the	DET
ajbmeb-2854	134	14	industry	industry	NOUN
ajbmeb-2854	134	15	were	be	AUX
ajbmeb-2854	134	16	extracted	extract	VERB
ajbmeb-2854	134	17	on	on	ADP
ajbmeb-2854	134	18	return	return	NOUN
ajbmeb-2854	134	19	on	on	ADP
ajbmeb-2854	134	20	assets	asset	NOUN
ajbmeb-2854	134	21	(	(	PUNCT
ajbmeb-2854	134	22	roa	roa	NOUN
ajbmeb-2854	134	23	)	)	PUNCT
ajbmeb-2854	134	24	used	use	VERB
ajbmeb-2854	134	25	to	to	PART
ajbmeb-2854	134	26	proxy	proxy	VERB
ajbmeb-2854	134	27	financial	financial	ADJ
ajbmeb-2854	134	28	performance	performance	NOUN
ajbmeb-2854	134	29	.	.	PUNCT
ajbmeb-2854	135	1	data	datum	NOUN
ajbmeb-2854	135	2	were	be	AUX
ajbmeb-2854	135	3	also	also	ADV
ajbmeb-2854	135	4	extracted	extract	VERB
ajbmeb-2854	135	5	on	on	ADP
ajbmeb-2854	135	6	dividend	dividend	NOUN
ajbmeb-2854	135	7	payout	payout	NOUN
ajbmeb-2854	135	8	ratio	ratio	NOUN
ajbmeb-2854	135	9	(	(	PUNCT
ajbmeb-2854	135	10	dpr	dpr	PROPN
ajbmeb-2854	135	11	)	)	PUNCT
ajbmeb-2854	135	12	;	;	PUNCT
ajbmeb-2854	135	13	dividend	dividend	NOUN
ajbmeb-2854	135	14	yield	yield	NOUN
ajbmeb-2854	135	15	(	(	PUNCT
ajbmeb-2854	135	16	dy	dy	X
ajbmeb-2854	135	17	)	)	PUNCT
ajbmeb-2854	135	18	;	;	PUNCT
ajbmeb-2854	135	19	retention	retention	NOUN
ajbmeb-2854	135	20	ratio	ratio	NOUN
ajbmeb-2854	135	21	(	(	PUNCT
ajbmeb-2854	135	22	rr	rr	NOUN
ajbmeb-2854	135	23	)	)	PUNCT
ajbmeb-2854	135	24	and	and	CCONJ
ajbmeb-2854	135	25	dividend	dividend	NOUN
ajbmeb-2854	135	26	coverage	coverage	NOUN
ajbmeb-2854	135	27	ratio	ratio	NOUN
ajbmeb-2854	135	28	(	(	PUNCT
ajbmeb-2854	135	29	dcr	dcr	PROPN
ajbmeb-2854	135	30	)	)	PUNCT
ajbmeb-2854	135	31	used	use	VERB
ajbmeb-2854	135	32	to	to	ADP
ajbmeb-2854	135	33	proxy	proxy	ADJ
ajbmeb-2854	135	34	dividend	dividend	NOUN
ajbmeb-2854	135	35	policy	policy	NOUN
ajbmeb-2854	135	36	.	.	PUNCT
ajbmeb-2854	136	1	an	an	DET
ajbmeb-2854	136	2	analysis	analysis	NOUN
ajbmeb-2854	136	3	of	of	ADP
ajbmeb-2854	136	4	the	the	DET
ajbmeb-2854	136	5	data	datum	NOUN
ajbmeb-2854	136	6	showed	show	VERB
ajbmeb-2854	136	7	that	that	SCONJ
ajbmeb-2854	136	8	they	they	PRON
ajbmeb-2854	136	9	are	be	AUX
ajbmeb-2854	136	10	stationary	stationary	ADJ
ajbmeb-2854	136	11	at	at	ADP
ajbmeb-2854	136	12	level	level	NOUN
ajbmeb-2854	136	13	and	and	CCONJ
ajbmeb-2854	136	14	that	that	SCONJ
ajbmeb-2854	136	15	co	co	NOUN
ajbmeb-2854	136	16	-	-	NOUN
ajbmeb-2854	136	17	integration	integration	NOUN
ajbmeb-2854	136	18	exists	exist	VERB
ajbmeb-2854	136	19	among	among	ADP
ajbmeb-2854	136	20	them	they	PRON
ajbmeb-2854	136	21	.	.	PUNCT
ajbmeb-2854	137	1	hausman	hausman	PROPN
ajbmeb-2854	137	2	test	test	PROPN
ajbmeb-2854	137	3	confirmed	confirm	VERB
ajbmeb-2854	137	4	that	that	SCONJ
ajbmeb-2854	137	5	fixed	fix	VERB
ajbmeb-2854	137	6	effect	effect	NOUN
ajbmeb-2854	137	7	model	model	NOUN
ajbmeb-2854	137	8	was	be	AUX
ajbmeb-2854	137	9	most	most	ADV
ajbmeb-2854	137	10	appropriate	appropriate	ADJ
ajbmeb-2854	137	11	.	.	PUNCT
ajbmeb-2854	138	1	all	all	DET
ajbmeb-2854	138	2	the	the	DET
ajbmeb-2854	138	3	four	four	NUM
ajbmeb-2854	138	4	variables	variable	NOUN
ajbmeb-2854	138	5	used	use	VERB
ajbmeb-2854	138	6	to	to	ADP
ajbmeb-2854	138	7	proxy	proxy	NOUN
ajbmeb-2854	138	8	dividend	dividend	NOUN
ajbmeb-2854	138	9	policy	policy	NOUN
ajbmeb-2854	138	10	jointly	jointly	ADV
ajbmeb-2854	138	11	significantly	significantly	ADV
ajbmeb-2854	138	12	affect	affect	VERB
ajbmeb-2854	138	13	performance	performance	NOUN
ajbmeb-2854	138	14	though	though	SCONJ
ajbmeb-2854	138	15	their	their	PRON
ajbmeb-2854	138	16	individual	individual	ADJ
ajbmeb-2854	138	17	results	result	NOUN
ajbmeb-2854	138	18	are	be	AUX
ajbmeb-2854	138	19	mixed	mixed	ADJ
ajbmeb-2854	138	20	.	.	PUNCT
ajbmeb-2854	139	1	dpr	dpr	PROPN
ajbmeb-2854	139	2	exerts	exert	VERB
ajbmeb-2854	139	3	a	a	DET
ajbmeb-2854	139	4	positive	positive	ADJ
ajbmeb-2854	139	5	(	(	PUNCT
ajbmeb-2854	139	6	coefficient	coefficient	NOUN
ajbmeb-2854	139	7	=	=	NOUN
ajbmeb-2854	139	8	1.886	1.886	NUM
ajbmeb-2854	139	9	)	)	PUNCT
ajbmeb-2854	139	10	and	and	CCONJ
ajbmeb-2854	139	11	dividend	dividend	NOUN
ajbmeb-2854	139	12	pay	pay	VERB
ajbmeb-2854	139	13	out	out	ADP
ajbmeb-2854	139	14	market	market	NOUN
ajbmeb-2854	139	15	capitalization	capitalization	NOUN
ajbmeb-2854	139	16	price	price	NOUN
ajbmeb-2854	139	17	earnings	earning	NOUN
ajbmeb-2854	139	18	ratio	ratio	NOUN
ajbmeb-2854	139	19	enterprise	enterprise	NOUN
ajbmeb-2854	139	20	value	value	NOUN
ajbmeb-2854	139	21	tobin	tobin	PROPN
ajbmeb-2854	139	22	q	q	PROPN
ajbmeb-2854	139	23	inflation	inflation	PROPN
ajbmeb-2854	139	24	https://www.scirp.org/journal/paperinformation.aspx?paperid=101899#ref28	https://www.scirp.org/journal/paperinformation.aspx?paperid=101899#ref28	PROPN
ajbmeb-2854	139	25	https://www.scirp.org/journal/paperinformation.aspx?paperid=101899#ref28	https://www.scirp.org/journal/paperinformation.aspx?paperid=101899#ref28	PROPN
ajbmeb-2854	139	26	https://www.scirp.org/journal/paperinformation.aspx?paperid=101899#ref17	https://www.scirp.org/journal/paperinformation.aspx?paperid=101899#ref17	PROPN
ajbmeb-2854	139	27	https://www.scirp.org/journal/paperinformation.aspx?paperid=101899#ref25	https://www.scirp.org/journal/paperinformation.aspx?paperid=101899#ref25	NOUN
ajbmeb-2854	139	28	https://www.scirp.org/journal/paperinformation.aspx?paperid=101899#ref44	https://www.scirp.org/journal/paperinformation.aspx?paperid=101899#ref44	PROPN
ajbmeb-2854	139	29	https://www.scirp.org/journal/paperinformation.aspx?paperid=101899#ref26	https://www.scirp.org/journal/paperinformation.aspx?paperid=101899#ref26	ADV
ajbmeb-2854	139	30	https://www.scirp.org/journal/paperinformation.aspx?paperid=101899#ref26	https://www.scirp.org/journal/paperinformation.aspx?paperid=101899#ref26	ADV
ajbmeb-2854	139	31	https://www.scirp.org/journal/paperinformation.aspx?paperid=101899#ref3	https://www.scirp.org/journal/paperinformation.aspx?paperid=101899#ref3	NOUN
ajbmeb-2854	139	32	https://www.scirp.org/journal/paperinformation.aspx?paperid=101899#ref7	https://www.scirp.org/journal/paperinformation.aspx?paperid=101899#ref7	NOUN
ajbmeb-2854	139	33	https://www.scirp.org/journal/paperinformation.aspx?paperid=101899#ref36	https://www.scirp.org/journal/paperinformation.aspx?paperid=101899#ref36	NOUN
ajbmeb-2854	139	34	https://www.scirp.org/journal/paperinformation.aspx?paperid=101899#ref10	https://www.scirp.org/journal/paperinformation.aspx?paperid=101899#ref10	VERB
ajbmeb-2854	139	35	https://www.scirp.org/journal/paperinformation.aspx?paperid=101899#ref10	https://www.scirp.org/journal/paperinformation.aspx?paperid=101899#ref10	PROPN
ajbmeb-2854	139	36	american	american	PROPN
ajbmeb-2854	139	37	journal	journal	PROPN
ajbmeb-2854	139	38	of	of	ADP
ajbmeb-2854	139	39	business	business	NOUN
ajbmeb-2854	139	40	management	management	NOUN
ajbmeb-2854	139	41	,	,	PUNCT
ajbmeb-2854	139	42	economics	economic	NOUN
ajbmeb-2854	139	43	and	and	CCONJ
ajbmeb-2854	139	44	banking	banking	NOUN
ajbmeb-2854	139	45	volume	volume	NOUN
ajbmeb-2854	139	46	35	35	NUM
ajbmeb-2854	139	47	april	april	PROPN
ajbmeb-2854	139	48	2025	2025	NUM
ajbmeb-2854	139	49	p	p	NOUN
ajbmeb-2854	139	50	a	a	DET
ajbmeb-2854	139	51	g	g	NOUN
ajbmeb-2854	139	52	e	e	NOUN
ajbmeb-2854	139	53	|	|	ADV
ajbmeb-2854	139	54	50	50	NUM
ajbmeb-2854	139	55	www.americanjournal.org	www.americanjournal.org	NOUN
ajbmeb-2854	139	56	significant	significant	ADJ
ajbmeb-2854	139	57	(	(	PUNCT
ajbmeb-2854	139	58	p	p	NOUN
ajbmeb-2854	139	59	=	=	NOUN
ajbmeb-2854	139	60	0.008	0.008	NUM
ajbmeb-2854	139	61	)	)	PUNCT
ajbmeb-2854	139	62	influence	influence	NOUN
ajbmeb-2854	139	63	on	on	ADP
ajbmeb-2854	139	64	performance	performance	NOUN
ajbmeb-2854	139	65	.	.	PUNCT
ajbmeb-2854	140	1	dy	dy	NOUN
ajbmeb-2854	140	2	exerts	exert	VERB
ajbmeb-2854	140	3	a	a	DET
ajbmeb-2854	140	4	negative	negative	ADJ
ajbmeb-2854	140	5	(	(	PUNCT
ajbmeb-2854	140	6	coefficient	coefficient	NOUN
ajbmeb-2854	140	7	=	=	SYM
ajbmeb-2854	140	8	-0.002	-0.002	PUNCT
ajbmeb-2854	140	9	)	)	PUNCT
ajbmeb-2854	140	10	and	and	CCONJ
ajbmeb-2854	140	11	insignificant	insignificant	ADJ
ajbmeb-2854	140	12	(	(	PUNCT
ajbmeb-2854	140	13	p	p	NOUN
ajbmeb-2854	140	14	=	=	NOUN
ajbmeb-2854	140	15	0.311	0.311	NUM
ajbmeb-2854	140	16	)	)	PUNCT
ajbmeb-2854	140	17	influence	influence	NOUN
ajbmeb-2854	140	18	while	while	SCONJ
ajbmeb-2854	140	19	rr	rr	PROPN
ajbmeb-2854	140	20	exerts	exert	VERB
ajbmeb-2854	140	21	a	a	DET
ajbmeb-2854	140	22	negative	negative	ADJ
ajbmeb-2854	140	23	(	(	PUNCT
ajbmeb-2854	140	24	coefficient	coefficient	NOUN
ajbmeb-2854	140	25	=	=	SYM
ajbmeb-2854	140	26	-2.002	-2.002	NOUN
ajbmeb-2854	140	27	)	)	PUNCT
ajbmeb-2854	140	28	and	and	CCONJ
ajbmeb-2854	140	29	significant	significant	ADJ
ajbmeb-2854	140	30	influence	influence	NOUN
ajbmeb-2854	140	31	(	(	PUNCT
ajbmeb-2854	140	32	p	p	X
ajbmeb-2854	140	33	=	=	NOUN
ajbmeb-2854	140	34	0.004	0.004	NUM
ajbmeb-2854	140	35	)	)	PUNCT
ajbmeb-2854	140	36	.	.	PUNCT
ajbmeb-2854	141	1	dcr	dcr	PROPN
ajbmeb-2854	141	2	exerts	exert	VERB
ajbmeb-2854	141	3	an	an	DET
ajbmeb-2854	141	4	insignificant	insignificant	ADJ
ajbmeb-2854	141	5	(	(	PUNCT
ajbmeb-2854	141	6	p	p	X
ajbmeb-2854	141	7	=	=	NOUN
ajbmeb-2854	141	8	4.31	4.31	NUM
ajbmeb-2854	141	9	)	)	PUNCT
ajbmeb-2854	141	10	positive	positive	ADJ
ajbmeb-2854	141	11	influence	influence	NOUN
ajbmeb-2854	141	12	(	(	PUNCT
ajbmeb-2854	141	13	coefficient	coefficient	NOUN
ajbmeb-2854	141	14	=	=	PROPN
ajbmeb-2854	141	15	0.17	0.17	NUM
ajbmeb-2854	141	16	mustapha	mustapha	PROPN
ajbmeb-2854	141	17	and	and	CCONJ
ajbmeb-2854	141	18	abdulahi	abdulahi	ADJ
ajbmeb-2854	141	19	(	(	PUNCT
ajbmeb-2854	141	20	2021	2021	NUM
ajbmeb-2854	141	21	)	)	PUNCT
ajbmeb-2854	141	22	examined	examine	VERB
ajbmeb-2854	141	23	effect	effect	NOUN
ajbmeb-2854	141	24	of	of	ADP
ajbmeb-2854	141	25	dividend	dividend	NOUN
ajbmeb-2854	141	26	policy	policy	NOUN
ajbmeb-2854	141	27	on	on	ADP
ajbmeb-2854	141	28	financial	financial	ADJ
ajbmeb-2854	141	29	performance	performance	NOUN
ajbmeb-2854	141	30	of	of	ADP
ajbmeb-2854	141	31	listed	list	VERB
ajbmeb-2854	141	32	deposit	deposit	NOUN
ajbmeb-2854	141	33	money	money	NOUN
ajbmeb-2854	141	34	banks	bank	NOUN
ajbmeb-2854	141	35	in	in	ADP
ajbmeb-2854	141	36	nigeria	nigeria	PROPN
ajbmeb-2854	141	37	for	for	ADP
ajbmeb-2854	141	38	the	the	DET
ajbmeb-2854	141	39	period	period	NOUN
ajbmeb-2854	141	40	2015	2015	NUM
ajbmeb-2854	141	41	to	to	ADP
ajbmeb-2854	141	42	2021	2021	NUM
ajbmeb-2854	141	43	.	.	PUNCT
ajbmeb-2854	142	1	the	the	DET
ajbmeb-2854	142	2	result	result	NOUN
ajbmeb-2854	142	3	indicates	indicate	VERB
ajbmeb-2854	142	4	that	that	SCONJ
ajbmeb-2854	142	5	dividend	dividend	NOUN
ajbmeb-2854	142	6	per	per	ADP
ajbmeb-2854	142	7	share	share	NOUN
ajbmeb-2854	142	8	significantly	significantly	ADV
ajbmeb-2854	142	9	and	and	CCONJ
ajbmeb-2854	142	10	positively	positively	ADV
ajbmeb-2854	142	11	affect	affect	VERB
ajbmeb-2854	142	12	performance	performance	NOUN
ajbmeb-2854	142	13	it	it	PRON
ajbmeb-2854	142	14	also	also	ADV
ajbmeb-2854	142	15	showed	show	VERB
ajbmeb-2854	142	16	that	that	SCONJ
ajbmeb-2854	142	17	firm	firm	ADJ
ajbmeb-2854	142	18	size	size	NOUN
ajbmeb-2854	142	19	is	be	AUX
ajbmeb-2854	142	20	negative	negative	ADJ
ajbmeb-2854	142	21	and	and	CCONJ
ajbmeb-2854	142	22	significantly	significantly	ADV
ajbmeb-2854	142	23	related	relate	VERB
ajbmeb-2854	142	24	with	with	ADP
ajbmeb-2854	142	25	firm	firm	ADJ
ajbmeb-2854	142	26	financial	financial	ADJ
ajbmeb-2854	142	27	performances	performance	NOUN
ajbmeb-2854	142	28	.	.	PUNCT
ajbmeb-2854	143	1	examines	examine	VERB
ajbmeb-2854	143	2	whether	whether	SCONJ
ajbmeb-2854	143	3	companies	company	NOUN
ajbmeb-2854	143	4	with	with	ADP
ajbmeb-2854	143	5	increasing	increase	VERB
ajbmeb-2854	143	6	dividends	dividend	NOUN
ajbmeb-2854	143	7	and	and	CCONJ
ajbmeb-2854	143	8	companies	company	NOUN
ajbmeb-2854	143	9	with	with	ADP
ajbmeb-2854	143	10	decreasing	decrease	VERB
ajbmeb-2854	143	11	and	and	CCONJ
ajbmeb-2854	143	12	constant	constant	ADJ
ajbmeb-2854	143	13	tuoye	tuoye	NOUN
ajbmeb-2854	143	14	et.al	et.al	NOUN
ajbmeb-2854	143	15	(	(	PUNCT
ajbmeb-2854	143	16	2023	2023	NUM
ajbmeb-2854	143	17	)	)	PUNCT
ajbmeb-2854	143	18	examined	examine	VERB
ajbmeb-2854	143	19	dividend	dividend	NOUN
ajbmeb-2854	143	20	policy	policy	NOUN
ajbmeb-2854	143	21	and	and	CCONJ
ajbmeb-2854	143	22	performance	performance	NOUN
ajbmeb-2854	143	23	of	of	ADP
ajbmeb-2854	143	24	money	money	NOUN
ajbmeb-2854	143	25	deposit	deposit	NOUN
ajbmeb-2854	143	26	banks	bank	NOUN
ajbmeb-2854	143	27	in	in	ADP
ajbmeb-2854	143	28	nigeria	nigeria	PROPN
ajbmeb-2854	143	29	study	study	PROPN
ajbmeb-2854	143	30	revealed	reveal	VERB
ajbmeb-2854	143	31	significant	significant	ADJ
ajbmeb-2854	143	32	and	and	CCONJ
ajbmeb-2854	143	33	positive	positive	ADJ
ajbmeb-2854	143	34	relationship	relationship	NOUN
ajbmeb-2854	143	35	between	between	ADP
ajbmeb-2854	143	36	earnings	earning	NOUN
ajbmeb-2854	143	37	per	per	ADP
ajbmeb-2854	143	38	share	share	NOUN
ajbmeb-2854	143	39	and	and	CCONJ
ajbmeb-2854	143	40	dividend	dividend	VERB
ajbmeb-2854	143	41	per	per	ADP
ajbmeb-2854	143	42	share	share	NOUN
ajbmeb-2854	143	43	,	,	PUNCT
ajbmeb-2854	143	44	positive	positive	ADJ
ajbmeb-2854	143	45	significant	significant	ADJ
ajbmeb-2854	143	46	relationship	relationship	NOUN
ajbmeb-2854	143	47	between	between	ADP
ajbmeb-2854	143	48	firm	firm	ADJ
ajbmeb-2854	143	49	size	size	NOUN
ajbmeb-2854	143	50	and	and	CCONJ
ajbmeb-2854	143	51	dividend	dividend	NOUN
ajbmeb-2854	143	52	per	per	ADP
ajbmeb-2854	143	53	share	share	NOUN
ajbmeb-2854	143	54	and	and	CCONJ
ajbmeb-2854	143	55	also	also	ADV
ajbmeb-2854	143	56	positive	positive	ADJ
ajbmeb-2854	143	57	significant	significant	ADJ
ajbmeb-2854	143	58	relationship	relationship	NOUN
ajbmeb-2854	143	59	between	between	ADP
ajbmeb-2854	143	60	return	return	NOUN
ajbmeb-2854	143	61	on	on	ADP
ajbmeb-2854	143	62	asset	asset	NOUN
ajbmeb-2854	143	63	and	and	CCONJ
ajbmeb-2854	143	64	dividend	dividend	NOUN
ajbmeb-2854	143	65	per	per	ADP
ajbmeb-2854	143	66	share	share	NOUN
ajbmeb-2854	143	67	.	.	PUNCT
ajbmeb-2854	144	1	wilcox	wilcox	PROPN
ajbmeb-2854	144	2	(	(	PUNCT
ajbmeb-2854	144	3	1984	1984	NUM
ajbmeb-2854	144	4	)	)	PUNCT
ajbmeb-2854	144	5	found	find	VERB
ajbmeb-2854	144	6	a	a	DET
ajbmeb-2854	144	7	significant	significant	ADJ
ajbmeb-2854	144	8	relationship	relationship	NOUN
ajbmeb-2854	144	9	of	of	ADP
ajbmeb-2854	144	10	dividend	dividend	NOUN
ajbmeb-2854	144	11	with	with	ADP
ajbmeb-2854	144	12	share	share	NOUN
ajbmeb-2854	144	13	price	price	NOUN
ajbmeb-2854	144	14	.	.	PUNCT
ajbmeb-2854	145	1	(	(	PUNCT
ajbmeb-2854	145	2	rappaport	rappaport	NOUN
ajbmeb-2854	145	3	(	(	PUNCT
ajbmeb-2854	145	4	1986	1986	NUM
ajbmeb-2854	145	5	;	;	PUNCT
ajbmeb-2854	145	6	downs	down	NOUN
ajbmeb-2854	145	7	(	(	PUNCT
ajbmeb-2854	145	8	1991	1991	NUM
ajbmeb-2854	145	9	)	)	PUNCT
ajbmeb-2854	145	10	;	;	PUNCT
ajbmeb-2854	145	11	and	and	CCONJ
ajbmeb-2854	145	12	sharma	sharma	PROPN
ajbmeb-2854	145	13	(	(	PUNCT
ajbmeb-2854	145	14	2011	2011	NUM
ajbmeb-2854	145	15	)	)	PUNCT
ajbmeb-2854	145	16	)	)	PUNCT
ajbmeb-2854	145	17	;	;	PUNCT
ajbmeb-2854	145	18	gordon	gordon	PROPN
ajbmeb-2854	145	19	(	(	PUNCT
ajbmeb-2854	145	20	1963	1963	NUM
ajbmeb-2854	145	21	)	)	PUNCT
ajbmeb-2854	145	22	argues	argue	VERB
ajbmeb-2854	145	23	that	that	SCONJ
ajbmeb-2854	145	24	dividend	dividend	NOUN
ajbmeb-2854	145	25	policy	policy	NOUN
ajbmeb-2854	145	26	does	do	AUX
ajbmeb-2854	145	27	affect	affect	VERB
ajbmeb-2854	145	28	the	the	DET
ajbmeb-2854	145	29	value	value	NOUN
ajbmeb-2854	145	30	of	of	ADP
ajbmeb-2854	145	31	firm	firm	ADJ
ajbmeb-2854	145	32	and	and	CCONJ
ajbmeb-2854	145	33	market	market	NOUN
ajbmeb-2854	145	34	price	price	NOUN
ajbmeb-2854	145	35	of	of	ADP
ajbmeb-2854	145	36	shares	share	NOUN
ajbmeb-2854	145	37	.	.	PUNCT
ajbmeb-2854	146	1	sharma	sharma	PROPN
ajbmeb-2854	146	2	&	&	CCONJ
ajbmeb-2854	146	3	singh	singh	PROPN
ajbmeb-2854	146	4	(	(	PUNCT
ajbmeb-2854	146	5	2006	2006	NUM
ajbmeb-2854	146	6	)	)	PUNCT
ajbmeb-2854	146	7	examined	examine	VERB
ajbmeb-2854	146	8	the	the	DET
ajbmeb-2854	146	9	relationship	relationship	NOUN
ajbmeb-2854	146	10	between	between	ADP
ajbmeb-2854	146	11	dividends	dividend	NOUN
ajbmeb-2854	146	12	per	per	ADP
ajbmeb-2854	146	13	share	share	NOUN
ajbmeb-2854	146	14	.	.	PUNCT
ajbmeb-2854	147	1	they	they	PRON
ajbmeb-2854	147	2	found	find	VERB
ajbmeb-2854	147	3	that	that	PRON
ajbmeb-2854	147	4	dividend	dividend	NOUN
ajbmeb-2854	147	5	per	per	ADP
ajbmeb-2854	147	6	share	share	NOUN
ajbmeb-2854	147	7	is	be	AUX
ajbmeb-2854	147	8	a	a	DET
ajbmeb-2854	147	9	major	major	ADJ
ajbmeb-2854	147	10	determinants	determinant	NOUN
ajbmeb-2854	147	11	of	of	ADP
ajbmeb-2854	147	12	share	share	NOUN
ajbmeb-2854	147	13	price	price	NOUN
ajbmeb-2854	147	14	value	value	NOUN
ajbmeb-2854	147	15	.	.	PUNCT
ajbmeb-2854	148	1	rahim	rahim	PROPN
ajbmeb-2854	148	2	et	et	PROPN
ajbmeb-2854	148	3	al	al	PROPN
ajbmeb-2854	148	4	.	.	PROPN
ajbmeb-2854	149	1	(	(	PUNCT
ajbmeb-2854	149	2	2010	2010	NUM
ajbmeb-2854	149	3	)	)	PUNCT
ajbmeb-2854	149	4	found	find	VERB
ajbmeb-2854	149	5	underinvestment	underinvestment	ADJ
ajbmeb-2854	149	6	occur	occur	VERB
ajbmeb-2854	149	7	when	when	SCONJ
ajbmeb-2854	149	8	there	there	PRON
ajbmeb-2854	149	9	was	be	VERB
ajbmeb-2854	149	10	positive	positive	ADJ
ajbmeb-2854	149	11	relationship	relationship	NOUN
ajbmeb-2854	149	12	between	between	ADP
ajbmeb-2854	149	13	dividend	dividend	NOUN
ajbmeb-2854	149	14	policy	policy	NOUN
ajbmeb-2854	149	15	and	and	CCONJ
ajbmeb-2854	149	16	the	the	DET
ajbmeb-2854	149	17	firm	firm	ADJ
ajbmeb-2854	149	18	value	value	NOUN
ajbmeb-2854	149	19	.	.	PUNCT
ajbmeb-2854	150	1	there	there	PRON
ajbmeb-2854	150	2	was	be	VERB
ajbmeb-2854	150	3	a	a	DET
ajbmeb-2854	150	4	trade	trade	NOUN
ajbmeb-2854	150	5	-	-	PUNCT
ajbmeb-2854	150	6	off	off	NOUN
ajbmeb-2854	150	7	between	between	ADP
ajbmeb-2854	150	8	firm	firm	ADJ
ajbmeb-2854	150	9	value	value	NOUN
ajbmeb-2854	150	10	and	and	CCONJ
ajbmeb-2854	150	11	decrease	decrease	NOUN
ajbmeb-2854	150	12	in	in	ADP
ajbmeb-2854	150	13	investment	investment	NOUN
ajbmeb-2854	150	14	as	as	ADP
ajbmeb-2854	150	15	increase	increase	NOUN
ajbmeb-2854	150	16	in	in	ADP
ajbmeb-2854	150	17	firm	firm	NOUN
ajbmeb-2854	150	18	’s	’s	PART
ajbmeb-2854	150	19	value	value	NOUN
ajbmeb-2854	150	20	was	be	AUX
ajbmeb-2854	150	21	contributed	contribute	VERB
ajbmeb-2854	150	22	by	by	ADP
ajbmeb-2854	150	23	decreased	decrease	VERB
ajbmeb-2854	150	24	in	in	ADP
ajbmeb-2854	150	25	investment	investment	NOUN
ajbmeb-2854	150	26	,	,	PUNCT
ajbmeb-2854	150	27	increased	increase	VERB
ajbmeb-2854	150	28	dividend	dividend	NOUN
ajbmeb-2854	150	29	and	and	CCONJ
ajbmeb-2854	150	30	stagnant	stagnant	ADJ
ajbmeb-2854	150	31	debt	debt	NOUN
ajbmeb-2854	150	32	ratio	ratio	NOUN
ajbmeb-2854	150	33	.	.	PUNCT
ajbmeb-2854	151	1	it	it	PRON
ajbmeb-2854	151	2	was	be	AUX
ajbmeb-2854	151	3	argued	argue	VERB
ajbmeb-2854	151	4	that	that	SCONJ
ajbmeb-2854	151	5	reduced	reduce	VERB
ajbmeb-2854	151	6	investment	investment	NOUN
ajbmeb-2854	151	7	happens	happen	VERB
ajbmeb-2854	151	8	because	because	SCONJ
ajbmeb-2854	151	9	the	the	DET
ajbmeb-2854	151	10	management	management	NOUN
ajbmeb-2854	151	11	cautiously	cautiously	ADV
ajbmeb-2854	151	12	chooses	choose	VERB
ajbmeb-2854	151	13	only	only	ADV
ajbmeb-2854	151	14	secured	secure	VERB
ajbmeb-2854	151	15	investments	investment	NOUN
ajbmeb-2854	151	16	and	and	CCONJ
ajbmeb-2854	151	17	distributes	distribute	VERB
ajbmeb-2854	151	18	the	the	DET
ajbmeb-2854	151	19	excess	excess	ADJ
ajbmeb-2854	151	20	cash	cash	NOUN
ajbmeb-2854	151	21	to	to	ADP
ajbmeb-2854	151	22	shareholders	shareholder	NOUN
ajbmeb-2854	151	23	as	as	ADP
ajbmeb-2854	151	24	dividends	dividend	NOUN
ajbmeb-2854	151	25	.	.	PUNCT
ajbmeb-2854	152	1	kamunde	kamunde	PROPN
ajbmeb-2854	152	2	(	(	PUNCT
ajbmeb-2854	152	3	2011	2011	NUM
ajbmeb-2854	152	4	)	)	PUNCT
ajbmeb-2854	152	5	examined	examine	VERB
ajbmeb-2854	152	6	the	the	DET
ajbmeb-2854	152	7	impact	impact	NOUN
ajbmeb-2854	152	8	of	of	ADP
ajbmeb-2854	152	9	dividend	dividend	NOUN
ajbmeb-2854	152	10	payout	payout	NOUN
ajbmeb-2854	152	11	ratio	ratio	NOUN
ajbmeb-2854	152	12	and	and	CCONJ
ajbmeb-2854	152	13	on	on	ADP
ajbmeb-2854	152	14	firm	firm	ADJ
ajbmeb-2854	152	15	value	value	NOUN
ajbmeb-2854	152	16	of	of	ADP
ajbmeb-2854	152	17	listed	list	VERB
ajbmeb-2854	152	18	telecommunication	telecommunication	NOUN
ajbmeb-2854	152	19	companies	company	NOUN
ajbmeb-2854	152	20	in	in	ADP
ajbmeb-2854	152	21	kenya	kenya	PROPN
ajbmeb-2854	152	22	,	,	PUNCT
ajbmeb-2854	152	23	study	study	NOUN
ajbmeb-2854	152	24	revealed	reveal	VERB
ajbmeb-2854	152	25	significant	significant	ADJ
ajbmeb-2854	152	26	negative	negative	ADJ
ajbmeb-2854	152	27	association	association	NOUN
ajbmeb-2854	152	28	between	between	ADP
ajbmeb-2854	152	29	firm	firm	ADJ
ajbmeb-2854	152	30	value	value	NOUN
ajbmeb-2854	152	31	and	and	CCONJ
ajbmeb-2854	152	32	dividend	dividend	NOUN
ajbmeb-2854	152	33	payout	payout	NOUN
ajbmeb-2854	152	34	.	.	PUNCT
ajbmeb-2854	153	1	amarjit	amarjit	PROPN
ajbmeb-2854	153	2	et	et	PROPN
ajbmeb-2854	153	3	al	al	PROPN
ajbmeb-2854	153	4	.	.	PROPN
ajbmeb-2854	154	1	(	(	PUNCT
ajbmeb-2854	154	2	2012	2012	NUM
ajbmeb-2854	154	3	)	)	PUNCT
ajbmeb-2854	154	4	studied	study	VERB
ajbmeb-2854	154	5	333	333	NUM
ajbmeb-2854	154	6	american	american	ADJ
ajbmeb-2854	154	7	firms	firm	NOUN
ajbmeb-2854	154	8	listed	list	VERB
ajbmeb-2854	154	9	on	on	ADP
ajbmeb-2854	154	10	the	the	DET
ajbmeb-2854	154	11	new	new	PROPN
ajbmeb-2854	154	12	york	york	PROPN
ajbmeb-2854	154	13	stock	stock	PROPN
ajbmeb-2854	154	14	exchange	exchange	PROPN
ajbmeb-2854	154	15	for	for	ADP
ajbmeb-2854	154	16	the	the	DET
ajbmeb-2854	154	17	period	period	NOUN
ajbmeb-2854	154	18	from	from	ADP
ajbmeb-2854	154	19	2009	2009	NUM
ajbmeb-2854	154	20	to	to	ADP
ajbmeb-2854	154	21	2011	2011	NUM
ajbmeb-2854	154	22	and	and	CCONJ
ajbmeb-2854	154	23	found	find	VERB
ajbmeb-2854	154	24	dividend	dividend	NOUN
ajbmeb-2854	154	25	per	per	ADP
ajbmeb-2854	154	26	share	share	NOUN
ajbmeb-2854	154	27	impact	impact	NOUN
ajbmeb-2854	154	28	share	share	NOUN
ajbmeb-2854	154	29	prices	price	NOUN
ajbmeb-2854	154	30	.	.	PUNCT
ajbmeb-2854	155	1	samuel	samuel	PROPN
ajbmeb-2854	155	2	et	et	PROPN
ajbmeb-2854	155	3	.	.	PUNCT
ajbmeb-2854	156	1	al	al	PROPN
ajbmeb-2854	156	2	.	.	PROPN
ajbmeb-2854	157	1	(	(	PUNCT
ajbmeb-2854	157	2	2013	2013	NUM
ajbmeb-2854	157	3	)	)	PUNCT
ajbmeb-2854	157	4	examined	examine	VERB
ajbmeb-2854	157	5	effect	effect	NOUN
ajbmeb-2854	157	6	of	of	ADP
ajbmeb-2854	157	7	dividend	dividend	NOUN
ajbmeb-2854	157	8	policy	policy	NOUN
ajbmeb-2854	157	9	on	on	ADP
ajbmeb-2854	157	10	market	market	NOUN
ajbmeb-2854	157	11	value	value	NOUN
ajbmeb-2854	157	12	of	of	ADP
ajbmeb-2854	157	13	shares	share	NOUN
ajbmeb-2854	157	14	in	in	ADP
ajbmeb-2854	157	15	kenya	kenya	PROPN
ajbmeb-2854	157	16	and	and	CCONJ
ajbmeb-2854	157	17	found	find	VERB
ajbmeb-2854	157	18	significant	significant	ADJ
ajbmeb-2854	157	19	positive	positive	ADJ
ajbmeb-2854	157	20	correlation	correlation	NOUN
ajbmeb-2854	157	21	between	between	ADP
ajbmeb-2854	157	22	market	market	NOUN
ajbmeb-2854	157	23	share	share	NOUN
ajbmeb-2854	157	24	value	value	NOUN
ajbmeb-2854	157	25	and	and	CCONJ
ajbmeb-2854	157	26	dividend	dividend	NOUN
ajbmeb-2854	157	27	payout	payout	NOUN
ajbmeb-2854	157	28	,	,	PUNCT
ajbmeb-2854	157	29	dividend	dividend	NOUN
ajbmeb-2854	157	30	growth	growth	NOUN
ajbmeb-2854	157	31	rate	rate	NOUN
ajbmeb-2854	157	32	and	and	CCONJ
ajbmeb-2854	157	33	dividend	dividend	NOUN
ajbmeb-2854	157	34	policy	policy	NOUN
ajbmeb-2854	157	35	.	.	PUNCT
ajbmeb-2854	158	1	putu	putu	PROPN
ajbmeb-2854	158	2	et	et	PROPN
ajbmeb-2854	158	3	al	al	PROPN
ajbmeb-2854	158	4	.	.	PROPN
ajbmeb-2854	159	1	(	(	PUNCT
ajbmeb-2854	159	2	2014	2014	NUM
ajbmeb-2854	159	3	)	)	PUNCT
ajbmeb-2854	159	4	using	use	VERB
ajbmeb-2854	159	5	path	path	NOUN
ajbmeb-2854	159	6	analysis	analysis	NOUN
ajbmeb-2854	159	7	found	find	VERB
ajbmeb-2854	159	8	that	that	SCONJ
ajbmeb-2854	159	9	profitability	profitability	NOUN
ajbmeb-2854	159	10	affect	affect	VERB
ajbmeb-2854	159	11	dividend	dividend	NOUN
ajbmeb-2854	159	12	policy	policy	NOUN
ajbmeb-2854	159	13	and	and	CCONJ
ajbmeb-2854	159	14	dividend	dividend	NOUN
ajbmeb-2854	159	15	policy	policy	NOUN
ajbmeb-2854	159	16	has	have	VERB
ajbmeb-2854	159	17	a	a	DET
ajbmeb-2854	159	18	positive	positive	ADJ
ajbmeb-2854	159	19	effect	effect	NOUN
ajbmeb-2854	159	20	on	on	ADP
ajbmeb-2854	159	21	firm	firm	ADJ
ajbmeb-2854	159	22	value	value	NOUN
ajbmeb-2854	159	23	.	.	PUNCT
ajbmeb-2854	160	1	tiwari	tiwari	PROPN
ajbmeb-2854	160	2	and	and	CCONJ
ajbmeb-2854	160	3	kumar	kumar	PROPN
ajbmeb-2854	160	4	(	(	PUNCT
ajbmeb-2854	160	5	2015	2015	NUM
ajbmeb-2854	160	6	)	)	PUNCT
ajbmeb-2854	160	7	study	study	NOUN
ajbmeb-2854	160	8	using	use	VERB
ajbmeb-2854	160	9	panel	panel	NOUN
ajbmeb-2854	160	10	regression	regression	NOUN
ajbmeb-2854	160	11	found	find	VERB
ajbmeb-2854	160	12	that	that	PRON
ajbmeb-2854	160	13	dividend	dividend	NOUN
ajbmeb-2854	160	14	per	per	ADP
ajbmeb-2854	160	15	share	share	NOUN
ajbmeb-2854	160	16	is	be	AUX
ajbmeb-2854	160	17	a	a	DET
ajbmeb-2854	160	18	driver	driver	NOUN
ajbmeb-2854	160	19	of	of	ADP
ajbmeb-2854	160	20	firm	firm	ADJ
ajbmeb-2854	160	21	value	value	NOUN
ajbmeb-2854	160	22	.	.	PUNCT
ajbmeb-2854	161	1	ayako	ayako	PROPN
ajbmeb-2854	161	2	and	and	CCONJ
ajbmeb-2854	161	3	wamalwa(2015	wamalwa(2015	PROPN
ajbmeb-2854	161	4	)	)	PUNCT
ajbmeb-2854	161	5	analyze	analyze	VERB
ajbmeb-2854	161	6	secondary	secondary	ADJ
ajbmeb-2854	161	7	panel	panel	NOUN
ajbmeb-2854	161	8	data	datum	NOUN
ajbmeb-2854	161	9	over	over	ADP
ajbmeb-2854	161	10	the	the	DET
ajbmeb-2854	161	11	period	period	NOUN
ajbmeb-2854	161	12	2002	2002	NUM
ajbmeb-2854	161	13	to	to	ADP
ajbmeb-2854	161	14	2012	2012	NUM
ajbmeb-2854	161	15	and	and	CCONJ
ajbmeb-2854	161	16	found	find	VERB
ajbmeb-2854	161	17	that	that	SCONJ
ajbmeb-2854	161	18	dividend	dividend	NOUN
ajbmeb-2854	161	19	ratio	ratio	NOUN
ajbmeb-2854	161	20	had	have	VERB
ajbmeb-2854	161	21	no	no	DET
ajbmeb-2854	161	22	statistically	statistically	ADV
ajbmeb-2854	161	23	significant	significant	ADJ
ajbmeb-2854	161	24	individual	individual	ADJ
ajbmeb-2854	161	25	effects	effect	NOUN
ajbmeb-2854	161	26	on	on	ADP
ajbmeb-2854	161	27	firm	firm	ADJ
ajbmeb-2854	161	28	value	value	NOUN
ajbmeb-2854	161	29	.	.	PUNCT
ajbmeb-2854	162	1	they	they	PRON
ajbmeb-2854	162	2	however	however	ADV
ajbmeb-2854	162	3	,	,	PUNCT
ajbmeb-2854	162	4	found	find	VERB
ajbmeb-2854	162	5	that	that	SCONJ
ajbmeb-2854	162	6	market	market	NOUN
ajbmeb-2854	162	7	capitalization	capitalization	NOUN
ajbmeb-2854	162	8	had	have	VERB
ajbmeb-2854	162	9	statistically	statistically	ADV
ajbmeb-2854	162	10	significant	significant	ADJ
ajbmeb-2854	162	11	individual	individual	ADJ
ajbmeb-2854	162	12	effects	effect	NOUN
ajbmeb-2854	162	13	on	on	ADP
ajbmeb-2854	162	14	firm	firm	ADJ
ajbmeb-2854	162	15	value	value	NOUN
ajbmeb-2854	162	16	.	.	PUNCT
ajbmeb-2854	163	1	balagobei	balagobei	PROPN
ajbmeb-2854	163	2	(	(	PUNCT
ajbmeb-2854	163	3	2015	2015	NUM
ajbmeb-2854	163	4	)	)	PUNCT
ajbmeb-2854	163	5	studied	study	VERB
ajbmeb-2854	163	6	the	the	DET
ajbmeb-2854	163	7	nexus	nexus	NOUN
ajbmeb-2854	163	8	of	of	ADP
ajbmeb-2854	163	9	dividend	dividend	NOUN
ajbmeb-2854	163	10	policy	policy	NOUN
ajbmeb-2854	163	11	and	and	CCONJ
ajbmeb-2854	163	12	shareholder	shareholder	NOUN
ajbmeb-2854	163	13	’s	’s	PART
ajbmeb-2854	163	14	wealth	wealth	NOUN
ajbmeb-2854	163	15	using	use	VERB
ajbmeb-2854	163	16	a	a	DET
ajbmeb-2854	163	17	sample	sample	NOUN
ajbmeb-2854	163	18	size	size	NOUN
ajbmeb-2854	163	19	of	of	ADP
ajbmeb-2854	163	20	twelve	twelve	NUM
ajbmeb-2854	163	21	firms	firm	NOUN
ajbmeb-2854	163	22	.	.	PUNCT
ajbmeb-2854	164	1	shareholder	shareholder	NOUN
ajbmeb-2854	164	2	’s	’s	PART
ajbmeb-2854	164	3	wealth	wealth	NOUN
ajbmeb-2854	164	4	proxy	proxy	NOUN
ajbmeb-2854	164	5	was	be	AUX
ajbmeb-2854	164	6	earnings	earning	NOUN
ajbmeb-2854	164	7	per	per	ADP
ajbmeb-2854	164	8	share	share	NOUN
ajbmeb-2854	164	9	while	while	SCONJ
ajbmeb-2854	164	10	dividend	dividend	NOUN
ajbmeb-2854	164	11	per	per	ADP
ajbmeb-2854	164	12	share	share	NOUN
ajbmeb-2854	164	13	,	,	PUNCT
ajbmeb-2854	164	14	payout	payout	ADJ
ajbmeb-2854	164	15	ratio	ratio	NOUN
ajbmeb-2854	164	16	and	and	CCONJ
ajbmeb-2854	164	17	returns	return	NOUN
ajbmeb-2854	164	18	on	on	ADP
ajbmeb-2854	164	19	equity	equity	NOUN
ajbmeb-2854	164	20	were	be	AUX
ajbmeb-2854	164	21	the	the	DET
ajbmeb-2854	164	22	independent	independent	ADJ
ajbmeb-2854	164	23	variables	variable	NOUN
ajbmeb-2854	164	24	.	.	PUNCT
ajbmeb-2854	165	1	study	study	NOUN
ajbmeb-2854	165	2	revealed	reveal	VERB
ajbmeb-2854	165	3	payout	payout	NOUN
ajbmeb-2854	165	4	ratio	ratio	NOUN
ajbmeb-2854	165	5	,	,	PUNCT
ajbmeb-2854	165	6	dividend	dividend	NOUN
ajbmeb-2854	165	7	per	per	ADP
ajbmeb-2854	165	8	share	share	NOUN
ajbmeb-2854	165	9	and	and	CCONJ
ajbmeb-2854	165	10	returns	return	NOUN
ajbmeb-2854	165	11	per	per	ADP
ajbmeb-2854	165	12	share	share	NOUN
ajbmeb-2854	165	13	significantly	significantly	ADV
ajbmeb-2854	165	14	and	and	CCONJ
ajbmeb-2854	165	15	positively	positively	ADV
ajbmeb-2854	165	16	relate	relate	VERB
ajbmeb-2854	165	17	with	with	ADP
ajbmeb-2854	165	18	shareholders	shareholder	NOUN
ajbmeb-2854	165	19	’	'	PUNCT
ajbmeb-2854	165	20	wealth.rauf	wealth.rauf	PROPN
ajbmeb-2854	165	21	(	(	PUNCT
ajbmeb-2854	165	22	2015	2015	NUM
ajbmeb-2854	165	23	)	)	PUNCT
ajbmeb-2854	165	24	identifies	identify	VERB
ajbmeb-2854	165	25	the	the	DET
ajbmeb-2854	165	26	possible	possible	ADJ
ajbmeb-2854	165	27	factors	factor	NOUN
ajbmeb-2854	165	28	that	that	PRON
ajbmeb-2854	165	29	influence	influence	NOUN
ajbmeb-2854	165	30	share	share	NOUN
ajbmeb-2854	165	31	prices	price	NOUN
ajbmeb-2854	165	32	for	for	ADP
ajbmeb-2854	165	33	the	the	DET
ajbmeb-2854	165	34	listed	list	VERB
ajbmeb-2854	165	35	banks	bank	NOUN
ajbmeb-2854	165	36	in	in	ADP
ajbmeb-2854	165	37	colombo	colombo	NOUN
ajbmeb-2854	165	38	stock	stock	NOUN
ajbmeb-2854	165	39	exchange	exchange	NOUN
ajbmeb-2854	165	40	over	over	ADP
ajbmeb-2854	165	41	the	the	DET
ajbmeb-2854	165	42	period	period	NOUN
ajbmeb-2854	165	43	2005	2005	NUM
ajbmeb-2854	165	44	-	-	SYM
ajbmeb-2854	165	45	2014	2014	NUM
ajbmeb-2854	165	46	.	.	PUNCT
ajbmeb-2854	166	1	he	he	PRON
ajbmeb-2854	166	2	selected	select	VERB
ajbmeb-2854	166	3	dividend	dividend	NOUN
ajbmeb-2854	166	4	per	per	ADP
ajbmeb-2854	166	5	share	share	NOUN
ajbmeb-2854	166	6	,	,	PUNCT
ajbmeb-2854	166	7	dividend	dividend	NOUN
ajbmeb-2854	166	8	payout	payout	NOUN
ajbmeb-2854	166	9	,	,	PUNCT
ajbmeb-2854	166	10	price	price	NOUN
ajbmeb-2854	166	11	earnings	earning	NOUN
ajbmeb-2854	166	12	ratio	ratio	NOUN
ajbmeb-2854	166	13	as	as	ADP
ajbmeb-2854	166	14	potential	potential	ADJ
ajbmeb-2854	166	15	determinants	determinant	NOUN
ajbmeb-2854	166	16	of	of	ADP
ajbmeb-2854	166	17	share	share	NOUN
ajbmeb-2854	166	18	prices	price	NOUN
ajbmeb-2854	166	19	.	.	PUNCT
ajbmeb-2854	167	1	employing	employ	VERB
ajbmeb-2854	167	2	the	the	DET
ajbmeb-2854	167	3	regression	regression	NOUN
ajbmeb-2854	167	4	and	and	CCONJ
ajbmeb-2854	167	5	correlation	correlation	NOUN
ajbmeb-2854	167	6	analyses	analysis	NOUN
ajbmeb-2854	167	7	he	he	PRON
ajbmeb-2854	167	8	found	find	VERB
ajbmeb-2854	167	9	positive	positive	ADJ
ajbmeb-2854	167	10	correlation	correlation	NOUN
ajbmeb-2854	167	11	between	between	ADP
ajbmeb-2854	167	12	the	the	DET
ajbmeb-2854	167	13	dependent	dependent	ADJ
ajbmeb-2854	167	14	and	and	CCONJ
ajbmeb-2854	167	15	independent	independent	ADJ
ajbmeb-2854	167	16	variables	variable	NOUN
ajbmeb-2854	167	17	.	.	PUNCT
ajbmeb-2854	168	1	anton	anton	NOUN
ajbmeb-2854	168	2	(	(	PUNCT
ajbmeb-2854	168	3	2016	2016	NUM
ajbmeb-2854	168	4	)	)	PUNCT
ajbmeb-2854	168	5	in	in	ADP
ajbmeb-2854	168	6	a	a	DET
ajbmeb-2854	168	7	study	study	NOUN
ajbmeb-2854	168	8	of	of	ADP
ajbmeb-2854	168	9	romanian	romanian	ADJ
ajbmeb-2854	168	10	capital	capital	NOUN
ajbmeb-2854	168	11	market	market	NOUN
ajbmeb-2854	168	12	for	for	ADP
ajbmeb-2854	168	13	the	the	DET
ajbmeb-2854	168	14	period	period	NOUN
ajbmeb-2854	168	15	2001	2001	NUM
ajbmeb-2854	168	16	to	to	ADP
ajbmeb-2854	168	17	2011	2011	NUM
ajbmeb-2854	168	18	on	on	ADP
ajbmeb-2854	168	19	effect	effect	NOUN
ajbmeb-2854	168	20	of	of	ADP
ajbmeb-2854	168	21	dividend	dividend	NOUN
ajbmeb-2854	168	22	payout	payout	NOUN
ajbmeb-2854	168	23	on	on	ADP
ajbmeb-2854	168	24	firm	firm	ADJ
ajbmeb-2854	168	25	value	value	NOUN
ajbmeb-2854	168	26	concluded	conclude	VERB
ajbmeb-2854	168	27	that	that	SCONJ
ajbmeb-2854	168	28	a	a	DET
ajbmeb-2854	168	29	positive	positive	ADJ
ajbmeb-2854	168	30	correlation	correlation	NOUN
ajbmeb-2854	168	31	coefficient	coefficient	NOUN
ajbmeb-2854	168	32	exist	exist	VERB
ajbmeb-2854	168	33	between	between	ADP
ajbmeb-2854	168	34	dividend	dividend	NOUN
ajbmeb-2854	168	35	payout	payout	NOUN
ajbmeb-2854	168	36	ratio	ratio	NOUN
ajbmeb-2854	168	37	and	and	CCONJ
ajbmeb-2854	168	38	firm	firm	ADJ
ajbmeb-2854	168	39	value	value	NOUN
ajbmeb-2854	168	40	.ramadan	.ramadan	X
ajbmeb-2854	168	41	(	(	PUNCT
ajbmeb-2854	168	42	2016	2016	NUM
ajbmeb-2854	168	43	)	)	PUNCT
ajbmeb-2854	168	44	in	in	ADP
ajbmeb-2854	168	45	a	a	DET
ajbmeb-2854	168	46	study	study	NOUN
ajbmeb-2854	168	47	of	of	ADP
ajbmeb-2854	168	48	77	77	NUM
ajbmeb-2854	168	49	firms	firm	NOUN
ajbmeb-2854	168	50	listed	list	VERB
ajbmeb-2854	168	51	on	on	ADP
ajbmeb-2854	168	52	amman	amman	PROPN
ajbmeb-2854	168	53	stock	stock	PROPN
ajbmeb-2854	168	54	exchange	exchange	PROPN
ajbmeb-2854	168	55	(	(	PUNCT
ajbmeb-2854	168	56	ase	ase	NOUN
ajbmeb-2854	168	57	)	)	PUNCT
ajbmeb-2854	168	58	2000	2000	NUM
ajbmeb-2854	168	59	-	-	SYM
ajbmeb-2854	168	60	2014	2014	NUM
ajbmeb-2854	168	61	https://www.scirp.org/journal/paperinformation.aspx?paperid=101899#ref38	https://www.scirp.org/journal/paperinformation.aspx?paperid=101899#ref38	ADV
ajbmeb-2854	168	62	https://www.scirp.org/journal/paperinformation.aspx?paperid=101899#ref38	https://www.scirp.org/journal/paperinformation.aspx?paperid=101899#ref38	ADJ
ajbmeb-2854	168	63	american	american	ADJ
ajbmeb-2854	168	64	journal	journal	PROPN
ajbmeb-2854	168	65	of	of	ADP
ajbmeb-2854	168	66	business	business	NOUN
ajbmeb-2854	168	67	management	management	NOUN
ajbmeb-2854	168	68	,	,	PUNCT
ajbmeb-2854	168	69	economics	economic	NOUN
ajbmeb-2854	168	70	and	and	CCONJ
ajbmeb-2854	168	71	banking	banking	NOUN
ajbmeb-2854	168	72	volume	volume	NOUN
ajbmeb-2854	168	73	35	35	NUM
ajbmeb-2854	168	74	april	april	PROPN
ajbmeb-2854	168	75	2025	2025	NUM
ajbmeb-2854	168	76	p	p	NOUN
ajbmeb-2854	168	77	a	a	DET
ajbmeb-2854	168	78	g	g	NOUN
ajbmeb-2854	168	79	e	e	NOUN
ajbmeb-2854	168	80	|	|	ADV
ajbmeb-2854	168	81	51	51	NUM
ajbmeb-2854	168	82	www.americanjournal.org	www.americanjournal.org	NOUN
ajbmeb-2854	168	83	industrial	industrial	ADJ
ajbmeb-2854	168	84	firms	firm	NOUN
ajbmeb-2854	168	85	in	in	ADP
ajbmeb-2854	168	86	the	the	PRON
ajbmeb-2854	168	87	.	.	PUNCT
ajbmeb-2854	169	1	he	he	PRON
ajbmeb-2854	169	2	examines	examine	VERB
ajbmeb-2854	169	3	the	the	DET
ajbmeb-2854	169	4	influence	influence	NOUN
ajbmeb-2854	169	5	of	of	ADP
ajbmeb-2854	169	6	twelve	twelve	NUM
ajbmeb-2854	169	7	firm	firm	ADJ
ajbmeb-2854	169	8	-	-	PUNCT
ajbmeb-2854	169	9	specific	specific	ADJ
ajbmeb-2854	169	10	variables	variable	NOUN
ajbmeb-2854	169	11	on	on	ADP
ajbmeb-2854	169	12	the	the	DET
ajbmeb-2854	169	13	firm	firm	ADJ
ajbmeb-2854	169	14	value	value	NOUN
ajbmeb-2854	169	15	and	and	CCONJ
ajbmeb-2854	169	16	found	find	VERB
ajbmeb-2854	169	17	that	that	SCONJ
ajbmeb-2854	169	18	,	,	PUNCT
ajbmeb-2854	169	19	dividend	dividend	NOUN
ajbmeb-2854	169	20	per	per	ADP
ajbmeb-2854	169	21	share	share	NOUN
ajbmeb-2854	169	22	,	,	PUNCT
ajbmeb-2854	169	23	and	and	CCONJ
ajbmeb-2854	169	24	pay	pay	VERB
ajbmeb-2854	169	25	-	-	PUNCT
ajbmeb-2854	169	26	out	out	ADP
ajbmeb-2854	169	27	ratio	ratio	NOUN
ajbmeb-2854	169	28	,	,	PUNCT
ajbmeb-2854	169	29	have	have	VERB
ajbmeb-2854	169	30	a	a	DET
ajbmeb-2854	169	31	statistically	statistically	ADV
ajbmeb-2854	169	32	significant	significant	ADJ
ajbmeb-2854	169	33	impact	impact	NOUN
ajbmeb-2854	169	34	on	on	ADP
ajbmeb-2854	169	35	the	the	DET
ajbmeb-2854	169	36	value	value	NOUN
ajbmeb-2854	169	37	of	of	ADP
ajbmeb-2854	169	38	the	the	DET
ajbmeb-2854	169	39	jordanian	jordanian	ADJ
ajbmeb-2854	169	40	industrial	industrial	ADJ
ajbmeb-2854	169	41	firms	firm	NOUN
ajbmeb-2854	169	42	listed	list	VERB
ajbmeb-2854	169	43	at	at	ADP
ajbmeb-2854	169	44	ase	ase	PROPN
ajbmeb-2854	169	45	.	.	PROPN
ajbmeb-2854	170	1	rehman	rehman	PROPN
ajbmeb-2854	170	2	(	(	PUNCT
ajbmeb-2854	170	3	2016	2016	NUM
ajbmeb-2854	170	4	)	)	PUNCT
ajbmeb-2854	170	5	,	,	PUNCT
ajbmeb-2854	170	6	lubis	lubi	VERB
ajbmeb-2854	170	7	et	et	PROPN
ajbmeb-2854	170	8	al	al	PROPN
ajbmeb-2854	170	9	.	.	PROPN
ajbmeb-2854	171	1	(	(	PUNCT
ajbmeb-2854	171	2	2017	2017	NUM
ajbmeb-2854	171	3	)	)	PUNCT
ajbmeb-2854	171	4	kasmiati	kasmiati	PROPN
ajbmeb-2854	171	5	and	and	CCONJ
ajbmeb-2854	171	6	santosa	santosa	PROPN
ajbmeb-2854	171	7	(	(	PUNCT
ajbmeb-2854	171	8	2019	2019	NUM
ajbmeb-2854	171	9	)	)	PUNCT
ajbmeb-2854	171	10	dividend	dividend	NOUN
ajbmeb-2854	171	11	policy	policy	NOUN
ajbmeb-2854	171	12	has	have	VERB
ajbmeb-2854	171	13	a	a	DET
ajbmeb-2854	171	14	positive	positive	ADJ
ajbmeb-2854	171	15	effect	effect	NOUN
ajbmeb-2854	171	16	on	on	ADP
ajbmeb-2854	171	17	firm	firm	ADJ
ajbmeb-2854	171	18	value	value	NOUN
ajbmeb-2854	171	19	.	.	PUNCT
ajbmeb-2854	172	1	kanwal	kanwal	PROPN
ajbmeb-2854	172	2	et.al	et.al	PROPN
ajbmeb-2854	172	3	(	(	PUNCT
ajbmeb-2854	172	4	2017	2017	NUM
ajbmeb-2854	172	5	)	)	PUNCT
ajbmeb-2854	172	6	examined	examine	VERB
ajbmeb-2854	172	7	association	association	NOUN
ajbmeb-2854	172	8	of	of	ADP
ajbmeb-2854	172	9	dividend	dividend	NOUN
ajbmeb-2854	172	10	payout	payout	NOUN
ajbmeb-2854	172	11	ratio	ratio	NOUN
ajbmeb-2854	172	12	and	and	CCONJ
ajbmeb-2854	172	13	financial	financial	ADJ
ajbmeb-2854	172	14	performance	performance	NOUN
ajbmeb-2854	172	15	of	of	ADP
ajbmeb-2854	172	16	pakistani	pakistani	ADJ
ajbmeb-2854	172	17	firms	firm	NOUN
ajbmeb-2854	172	18	listed	list	VERB
ajbmeb-2854	172	19	in	in	ADP
ajbmeb-2854	172	20	karachi	karachi	PROPN
ajbmeb-2854	172	21	stock	stock	PROPN
ajbmeb-2854	172	22	exchange	exchange	PROPN
ajbmeb-2854	172	23	for	for	ADP
ajbmeb-2854	172	24	the	the	DET
ajbmeb-2854	172	25	period	period	NOUN
ajbmeb-2854	172	26	2008	2008	NUM
ajbmeb-2854	172	27	to	to	ADP
ajbmeb-2854	172	28	2012	2012	NUM
ajbmeb-2854	172	29	and	and	CCONJ
ajbmeb-2854	172	30	analyzing	analyze	VERB
ajbmeb-2854	172	31	the	the	DET
ajbmeb-2854	172	32	data	datum	NOUN
ajbmeb-2854	172	33	using	use	VERB
ajbmeb-2854	172	34	correlation	correlation	NOUN
ajbmeb-2854	172	35	analysis	analysis	NOUN
ajbmeb-2854	172	36	and	and	CCONJ
ajbmeb-2854	172	37	liner	liner	NOUN
ajbmeb-2854	172	38	regression	regression	NOUN
ajbmeb-2854	172	39	analysis	analysis	NOUN
ajbmeb-2854	172	40	.	.	PUNCT
ajbmeb-2854	173	1	dividend	dividend	NOUN
ajbmeb-2854	173	2	payout	payout	NOUN
ajbmeb-2854	173	3	ratio	ratio	NOUN
ajbmeb-2854	173	4	was	be	AUX
ajbmeb-2854	173	5	the	the	DET
ajbmeb-2854	173	6	independent	independent	ADJ
ajbmeb-2854	173	7	variable	variable	NOUN
ajbmeb-2854	173	8	while	while	SCONJ
ajbmeb-2854	173	9	net	net	ADJ
ajbmeb-2854	173	10	profit	profit	NOUN
ajbmeb-2854	173	11	after	after	ADP
ajbmeb-2854	173	12	tax	tax	NOUN
ajbmeb-2854	173	13	,	,	PUNCT
ajbmeb-2854	173	14	return	return	NOUN
ajbmeb-2854	173	15	on	on	ADP
ajbmeb-2854	173	16	equity	equity	NOUN
ajbmeb-2854	173	17	,	,	PUNCT
ajbmeb-2854	173	18	and	and	CCONJ
ajbmeb-2854	173	19	return	return	VERB
ajbmeb-2854	173	20	on	on	ADP
ajbmeb-2854	173	21	asset	asset	NOUN
ajbmeb-2854	173	22	were	be	AUX
ajbmeb-2854	173	23	proxies	proxy	NOUN
ajbmeb-2854	173	24	for	for	ADP
ajbmeb-2854	173	25	performance	performance	NOUN
ajbmeb-2854	173	26	.	.	PUNCT
ajbmeb-2854	174	1	findings	finding	NOUN
ajbmeb-2854	174	2	of	of	ADP
ajbmeb-2854	174	3	the	the	DET
ajbmeb-2854	174	4	study	study	NOUN
ajbmeb-2854	174	5	revealed	reveal	VERB
ajbmeb-2854	174	6	dividend	dividend	NOUN
ajbmeb-2854	174	7	payout	payout	NOUN
ajbmeb-2854	174	8	positively	positively	ADV
ajbmeb-2854	174	9	influenced	influence	VERB
ajbmeb-2854	174	10	performance	performance	NOUN
ajbmeb-2854	174	11	of	of	ADP
ajbmeb-2854	174	12	the	the	DET
ajbmeb-2854	174	13	firms	firm	NOUN
ajbmeb-2854	174	14	.	.	PUNCT
ajbmeb-2854	175	1	sugiastuti	sugiastuti	PROPN
ajbmeb-2854	175	2	et	et	PROPN
ajbmeb-2854	175	3	al	al	PROPN
ajbmeb-2854	175	4	.	.	PROPN
ajbmeb-2854	176	1	(	(	PUNCT
ajbmeb-2854	176	2	2018	2018	NUM
ajbmeb-2854	176	3	)	)	PUNCT
ajbmeb-2854	176	4	indicate	indicate	VERB
ajbmeb-2854	176	5	that	that	PRON
ajbmeb-2854	176	6	profitability	profitability	NOUN
ajbmeb-2854	176	7	and	and	CCONJ
ajbmeb-2854	176	8	dividend	dividend	NOUN
ajbmeb-2854	176	9	policy	policy	NOUN
ajbmeb-2854	176	10	have	have	VERB
ajbmeb-2854	176	11	no	no	DET
ajbmeb-2854	176	12	significant	significant	ADJ
ajbmeb-2854	176	13	positive	positive	ADJ
ajbmeb-2854	176	14	effect	effect	NOUN
ajbmeb-2854	176	15	on	on	ADP
ajbmeb-2854	176	16	firm	firm	ADJ
ajbmeb-2854	176	17	value	value	NOUN
ajbmeb-2854	176	18	.	.	PUNCT
ajbmeb-2854	177	1	santosa	santosa	PROPN
ajbmeb-2854	177	2	(	(	PUNCT
ajbmeb-2854	177	3	2020	2020	NUM
ajbmeb-2854	177	4	)	)	PUNCT
ajbmeb-2854	177	5	who	who	PRON
ajbmeb-2854	177	6	examined	examine	VERB
ajbmeb-2854	177	7	the	the	DET
ajbmeb-2854	177	8	effect	effect	NOUN
ajbmeb-2854	177	9	of	of	ADP
ajbmeb-2854	177	10	dividend	dividend	NOUN
ajbmeb-2854	177	11	policy	policy	NOUN
ajbmeb-2854	177	12	on	on	ADP
ajbmeb-2854	177	13	firm	firm	ADJ
ajbmeb-2854	177	14	value	value	NOUN
ajbmeb-2854	177	15	,	,	PUNCT
ajbmeb-2854	177	16	states	state	VERB
ajbmeb-2854	177	17	that	that	PRON
ajbmeb-2854	177	18	dividend	dividend	NOUN
ajbmeb-2854	177	19	policy	policy	NOUN
ajbmeb-2854	177	20	has	have	VERB
ajbmeb-2854	177	21	a	a	DET
ajbmeb-2854	177	22	positive	positive	ADJ
ajbmeb-2854	177	23	and	and	CCONJ
ajbmeb-2854	177	24	significant	significant	ADJ
ajbmeb-2854	177	25	effect	effect	NOUN
ajbmeb-2854	177	26	on	on	ADP
ajbmeb-2854	177	27	firm	firm	ADJ
ajbmeb-2854	177	28	value	value	NOUN
ajbmeb-2854	177	29	.	.	PUNCT
ajbmeb-2854	178	1	mendisand	mendisand	NOUN
ajbmeb-2854	178	2	and	and	CCONJ
ajbmeb-2854	178	3	wijesinghe	wijesinghe	ADJ
ajbmeb-2854	178	4	(	(	PUNCT
ajbmeb-2854	178	5	2021	2021	NUM
ajbmeb-2854	178	6	)	)	PUNCT
ajbmeb-2854	178	7	studied	study	VERB
ajbmeb-2854	178	8	impact	impact	NOUN
ajbmeb-2854	178	9	of	of	ADP
ajbmeb-2854	178	10	dividend	dividend	NOUN
ajbmeb-2854	178	11	payout	payout	NOUN
ajbmeb-2854	178	12	on	on	ADP
ajbmeb-2854	178	13	market	market	NOUN
ajbmeb-2854	178	14	and	and	CCONJ
ajbmeb-2854	178	15	financial	financial	ADJ
ajbmeb-2854	178	16	performances	performance	NOUN
ajbmeb-2854	178	17	of	of	ADP
ajbmeb-2854	178	18	listed	list	VERB
ajbmeb-2854	178	19	firms	firm	NOUN
ajbmeb-2854	178	20	on	on	ADP
ajbmeb-2854	178	21	colombo	colombo	NOUN
ajbmeb-2854	178	22	stock	stock	NOUN
ajbmeb-2854	178	23	exchange	exchange	NOUN
ajbmeb-2854	178	24	from	from	ADP
ajbmeb-2854	178	25	2014	2014	NUM
ajbmeb-2854	178	26	to	to	ADP
ajbmeb-2854	178	27	2019.dividend	2019.dividend	NUM
ajbmeb-2854	178	28	payout	payout	NOUN
ajbmeb-2854	178	29	was	be	AUX
ajbmeb-2854	178	30	used	use	VERB
ajbmeb-2854	178	31	as	as	ADP
ajbmeb-2854	178	32	independent	independent	ADJ
ajbmeb-2854	178	33	variable	variable	NOUN
ajbmeb-2854	178	34	,	,	PUNCT
ajbmeb-2854	178	35	control	control	NOUN
ajbmeb-2854	178	36	variables	variable	NOUN
ajbmeb-2854	178	37	as	as	ADP
ajbmeb-2854	178	38	earning	earn	VERB
ajbmeb-2854	178	39	volatility	volatility	NOUN
ajbmeb-2854	178	40	,	,	PUNCT
ajbmeb-2854	178	41	net	net	ADJ
ajbmeb-2854	178	42	working	working	NOUN
ajbmeb-2854	178	43	capital	capital	NOUN
ajbmeb-2854	178	44	,	,	PUNCT
ajbmeb-2854	178	45	capital	capital	NOUN
ajbmeb-2854	178	46	structure	structure	NOUN
ajbmeb-2854	178	47	while	while	SCONJ
ajbmeb-2854	178	48	stock	stock	NOUN
ajbmeb-2854	178	49	return	return	NOUN
ajbmeb-2854	178	50	and	and	CCONJ
ajbmeb-2854	178	51	market	market	NOUN
ajbmeb-2854	178	52	value	value	NOUN
ajbmeb-2854	178	53	added	add	VERB
ajbmeb-2854	178	54	(	(	PUNCT
ajbmeb-2854	178	55	mva	mva	NOUN
ajbmeb-2854	178	56	)	)	PUNCT
ajbmeb-2854	178	57	were	be	AUX
ajbmeb-2854	178	58	used	use	VERB
ajbmeb-2854	178	59	as	as	ADP
ajbmeb-2854	178	60	proxies	proxy	NOUN
ajbmeb-2854	178	61	for	for	ADP
ajbmeb-2854	178	62	market	market	NOUN
ajbmeb-2854	178	63	performance	performance	NOUN
ajbmeb-2854	178	64	while	while	SCONJ
ajbmeb-2854	178	65	return	return	VERB
ajbmeb-2854	178	66	on	on	ADP
ajbmeb-2854	178	67	equity	equity	NOUN
ajbmeb-2854	178	68	,	,	PUNCT
ajbmeb-2854	178	69	return	return	VERB
ajbmeb-2854	178	70	on	on	ADP
ajbmeb-2854	178	71	assets	asset	NOUN
ajbmeb-2854	178	72	and	and	CCONJ
ajbmeb-2854	178	73	economic	economic	ADJ
ajbmeb-2854	178	74	value	value	NOUN
ajbmeb-2854	178	75	added	add	VERB
ajbmeb-2854	178	76	(	(	PUNCT
ajbmeb-2854	178	77	eva	eva	PROPN
ajbmeb-2854	178	78	)	)	PUNCT
ajbmeb-2854	178	79	are	be	AUX
ajbmeb-2854	178	80	proxies	proxy	NOUN
ajbmeb-2854	178	81	for	for	ADP
ajbmeb-2854	178	82	financial	financial	ADJ
ajbmeb-2854	178	83	performance	performance	NOUN
ajbmeb-2854	178	84	.	.	PUNCT
ajbmeb-2854	179	1	findings	finding	NOUN
ajbmeb-2854	179	2	revealed	reveal	VERB
ajbmeb-2854	179	3	that	that	SCONJ
ajbmeb-2854	179	4	there	there	PRON
ajbmeb-2854	179	5	is	be	VERB
ajbmeb-2854	179	6	a	a	DET
ajbmeb-2854	179	7	significant	significant	ADJ
ajbmeb-2854	179	8	positive	positive	ADJ
ajbmeb-2854	179	9	influence	influence	NOUN
ajbmeb-2854	179	10	of	of	ADP
ajbmeb-2854	179	11	dividend	dividend	NOUN
ajbmeb-2854	179	12	payout	payout	NOUN
ajbmeb-2854	179	13	on	on	ADP
ajbmeb-2854	179	14	firm	firm	ADJ
ajbmeb-2854	179	15	stock	stock	NOUN
ajbmeb-2854	179	16	return	return	NOUN
ajbmeb-2854	179	17	,	,	PUNCT
ajbmeb-2854	179	18	return	return	VERB
ajbmeb-2854	179	19	on	on	ADP
ajbmeb-2854	179	20	equity	equity	NOUN
ajbmeb-2854	179	21	,	,	PUNCT
ajbmeb-2854	179	22	return	return	VERB
ajbmeb-2854	179	23	on	on	ADP
ajbmeb-2854	179	24	assets	asset	NOUN
ajbmeb-2854	179	25	and	and	CCONJ
ajbmeb-2854	179	26	economic	economic	ADJ
ajbmeb-2854	179	27	value	value	NOUN
ajbmeb-2854	179	28	added	add	VERB
ajbmeb-2854	179	29	.	.	PUNCT
ajbmeb-2854	180	1	methodology	methodology	NOUN
ajbmeb-2854	180	2	the	the	DET
ajbmeb-2854	180	3	study	study	NOUN
ajbmeb-2854	180	4	used	use	VERB
ajbmeb-2854	180	5	the	the	DET
ajbmeb-2854	180	6	cross	cross	ADJ
ajbmeb-2854	180	7	-	-	ADJ
ajbmeb-2854	180	8	sectional	sectional	ADJ
ajbmeb-2854	180	9	ex	ex	NOUN
ajbmeb-2854	180	10	-	-	ADJ
ajbmeb-2854	180	11	post	post	ADJ
ajbmeb-2854	180	12	facto	facto	X
ajbmeb-2854	180	13	design	design	NOUN
ajbmeb-2854	180	14	and	and	CCONJ
ajbmeb-2854	180	15	adopted	adopt	VERB
ajbmeb-2854	180	16	census	census	NOUN
ajbmeb-2854	180	17	method	method	NOUN
ajbmeb-2854	180	18	of	of	ADP
ajbmeb-2854	180	19	sampling	sample	VERB
ajbmeb-2854	180	20	to	to	PART
ajbmeb-2854	180	21	examine	examine	VERB
ajbmeb-2854	180	22	firms	firm	NOUN
ajbmeb-2854	180	23	in	in	ADP
ajbmeb-2854	180	24	the	the	DET
ajbmeb-2854	180	25	subsector	subsector	NOUN
ajbmeb-2854	180	26	of	of	ADP
ajbmeb-2854	180	27	food	food	NOUN
ajbmeb-2854	180	28	and	and	CCONJ
ajbmeb-2854	180	29	beverage	beverage	NOUN
ajbmeb-2854	180	30	,	,	PUNCT
ajbmeb-2854	180	31	health	health	NOUN
ajbmeb-2854	180	32	care	care	NOUN
ajbmeb-2854	180	33	,	,	PUNCT
ajbmeb-2854	180	34	cement	cement	NOUN
ajbmeb-2854	180	35	.	.	PUNCT
ajbmeb-2854	181	1	building	building	NOUN
ajbmeb-2854	181	2	material	material	NOUN
ajbmeb-2854	181	3	,	,	PUNCT
ajbmeb-2854	181	4	confectionaries	confectionary	NOUN
ajbmeb-2854	181	5	,	,	PUNCT
ajbmeb-2854	181	6	pharmaceuticals	pharmaceutical	NOUN
ajbmeb-2854	181	7	are	be	AUX
ajbmeb-2854	181	8	being	be	AUX
ajbmeb-2854	181	9	studied	study	VERB
ajbmeb-2854	181	10	.	.	PUNCT
ajbmeb-2854	182	1	census	census	NOUN
ajbmeb-2854	182	2	sampling	sampling	NOUN
ajbmeb-2854	182	3	does	do	AUX
ajbmeb-2854	182	4	not	not	PART
ajbmeb-2854	182	5	require	require	VERB
ajbmeb-2854	182	6	any	any	DET
ajbmeb-2854	182	7	sample	sample	NOUN
ajbmeb-2854	182	8	size	size	NOUN
ajbmeb-2854	182	9	determination	determination	NOUN
ajbmeb-2854	182	10	.	.	PUNCT
ajbmeb-2854	183	1	a	a	DET
ajbmeb-2854	183	2	total	total	NOUN
ajbmeb-2854	183	3	of	of	ADP
ajbmeb-2854	183	4	twenty	twenty	NUM
ajbmeb-2854	183	5	-	-	PUNCT
ajbmeb-2854	183	6	two	two	NUM
ajbmeb-2854	183	7	firms	firm	NOUN
ajbmeb-2854	183	8	were	be	AUX
ajbmeb-2854	183	9	examined	examine	VERB
ajbmeb-2854	183	10	in	in	ADP
ajbmeb-2854	183	11	a	a	DET
ajbmeb-2854	183	12	population	population	NOUN
ajbmeb-2854	183	13	of	of	ADP
ajbmeb-2854	183	14	sixty	sixty	NUM
ajbmeb-2854	183	15	-	-	PUNCT
ajbmeb-2854	183	16	five	five	NUM
ajbmeb-2854	183	17	manufacturing	manufacturing	NOUN
ajbmeb-2854	183	18	firms	firm	NOUN
ajbmeb-2854	183	19	with	with	ADP
ajbmeb-2854	183	20	complete	complete	ADJ
ajbmeb-2854	183	21	data	datum	NOUN
ajbmeb-2854	183	22	.	.	PUNCT
ajbmeb-2854	184	1	data	datum	NOUN
ajbmeb-2854	184	2	were	be	AUX
ajbmeb-2854	184	3	extracted	extract	VERB
ajbmeb-2854	184	4	from	from	ADP
ajbmeb-2854	184	5	the	the	DET
ajbmeb-2854	184	6	financial	financial	ADJ
ajbmeb-2854	184	7	statements	statement	NOUN
ajbmeb-2854	184	8	of	of	ADP
ajbmeb-2854	184	9	the	the	DET
ajbmeb-2854	184	10	firms	firm	NOUN
ajbmeb-2854	184	11	studied	study	VERB
ajbmeb-2854	184	12	.	.	PUNCT
ajbmeb-2854	185	1	firms	firm	NOUN
ajbmeb-2854	185	2	with	with	ADP
ajbmeb-2854	185	3	incomplete	incomplete	ADJ
ajbmeb-2854	185	4	information	information	NOUN
ajbmeb-2854	185	5	were	be	AUX
ajbmeb-2854	185	6	eliminated	eliminate	VERB
ajbmeb-2854	185	7	to	to	PART
ajbmeb-2854	185	8	avoid	avoid	VERB
ajbmeb-2854	185	9	pollution	pollution	NOUN
ajbmeb-2854	185	10	of	of	ADP
ajbmeb-2854	185	11	data	datum	NOUN
ajbmeb-2854	185	12	.	.	PUNCT
ajbmeb-2854	186	1	the	the	DET
ajbmeb-2854	186	2	sample	sample	NOUN
ajbmeb-2854	186	3	size	size	NOUN
ajbmeb-2854	186	4	represents	represent	VERB
ajbmeb-2854	186	5	ninety	ninety	NUM
ajbmeb-2854	186	6	five	five	NUM
ajbmeb-2854	186	7	percent	percent	NOUN
ajbmeb-2854	186	8	of	of	ADP
ajbmeb-2854	186	9	the	the	DET
ajbmeb-2854	186	10	firms	firm	NOUN
ajbmeb-2854	186	11	in	in	ADP
ajbmeb-2854	186	12	the	the	DET
ajbmeb-2854	186	13	food	food	NOUN
ajbmeb-2854	186	14	and	and	CCONJ
ajbmeb-2854	186	15	beverage	beverage	NOUN
ajbmeb-2854	186	16	,	,	PUNCT
ajbmeb-2854	186	17	household	household	NOUN
ajbmeb-2854	186	18	,	,	PUNCT
ajbmeb-2854	186	19	building	building	NOUN
ajbmeb-2854	186	20	,	,	PUNCT
ajbmeb-2854	186	21	cement	cement	NOUN
ajbmeb-2854	186	22	,	,	PUNCT
ajbmeb-2854	186	23	health	health	NOUN
ajbmeb-2854	186	24	care	care	NOUN
ajbmeb-2854	186	25	,	,	PUNCT
ajbmeb-2854	186	26	confectionaries	confectionarie	VERB
ajbmeb-2854	186	27	subsector	subsector	NOUN
ajbmeb-2854	186	28	in	in	ADP
ajbmeb-2854	186	29	terms	term	NOUN
ajbmeb-2854	186	30	of	of	ADP
ajbmeb-2854	186	31	number	number	NOUN
ajbmeb-2854	186	32	,	,	PUNCT
ajbmeb-2854	186	33	size	size	NOUN
ajbmeb-2854	186	34	of	of	ADP
ajbmeb-2854	186	35	assets	asset	NOUN
ajbmeb-2854	186	36	and	and	CCONJ
ajbmeb-2854	186	37	market	market	NOUN
ajbmeb-2854	186	38	capitalization	capitalization	NOUN
ajbmeb-2854	186	39	.	.	PUNCT
ajbmeb-2854	187	1	measurement	measurement	NOUN
ajbmeb-2854	187	2	of	of	ADP
ajbmeb-2854	187	3	variables	variable	NOUN
ajbmeb-2854	187	4	:	:	PUNCT
ajbmeb-2854	187	5	independent	independent	ADJ
ajbmeb-2854	187	6	variables	variable	NOUN
ajbmeb-2854	187	7	divi	divi	PROPN
ajbmeb-2854	187	8	,	,	PUNCT
ajbmeb-2854	187	9	t	t	NOUN
ajbmeb-2854	187	10	=	=	PUNCT
ajbmeb-2854	187	11	dividends	dividend	VERB
ajbmeb-2854	187	12	payout	payout	NOUN
ajbmeb-2854	187	13	ratio	ratio	NOUN
ajbmeb-2854	187	14	of	of	ADP
ajbmeb-2854	187	15	firm	firm	ADJ
ajbmeb-2854	187	16	i	i	PRON
ajbmeb-2854	187	17	in	in	ADP
ajbmeb-2854	187	18	year	year	NOUN
ajbmeb-2854	187	19	t	t	PROPN
ajbmeb-2854	187	20	as	as	ADP
ajbmeb-2854	187	21	a	a	DET
ajbmeb-2854	187	22	proxy	proxy	NOUN
ajbmeb-2854	187	23	of	of	ADP
ajbmeb-2854	187	24	firm	firm	ADJ
ajbmeb-2854	187	25	dividend	dividend	NOUN
ajbmeb-2854	187	26	policy	policy	NOUN
ajbmeb-2854	187	27	.	.	PUNCT
ajbmeb-2854	188	1	mcp	mcp	PROPN
ajbmeb-2854	188	2	=	=	PROPN
ajbmeb-2854	188	3	market	market	NOUN
ajbmeb-2854	188	4	capitalization	capitalization	NOUN
ajbmeb-2854	188	5	which	which	PRON
ajbmeb-2854	188	6	is	be	AUX
ajbmeb-2854	188	7	shares	share	NOUN
ajbmeb-2854	188	8	multiplied	multiply	VERB
ajbmeb-2854	188	9	by	by	ADP
ajbmeb-2854	188	10	the	the	DET
ajbmeb-2854	188	11	market	market	NOUN
ajbmeb-2854	188	12	value	value	NOUN
ajbmeb-2854	188	13	as	as	SCONJ
ajbmeb-2854	188	14	quoted	quote	VERB
ajbmeb-2854	188	15	in	in	ADP
ajbmeb-2854	188	16	the	the	DET
ajbmeb-2854	188	17	nigeria	nigeria	PROPN
ajbmeb-2854	188	18	stock	stock	PROPN
ajbmeb-2854	188	19	exchange	exchange	PROPN
ajbmeb-2854	188	20	inf	inf	NOUN
ajbmeb-2854	188	21	=	=	NOUN
ajbmeb-2854	188	22	inflation	inflation	NOUN
ajbmeb-2854	188	23	:	:	PUNCT
ajbmeb-2854	188	24	high	high	ADJ
ajbmeb-2854	188	25	inflation	inflation	NOUN
ajbmeb-2854	188	26	tends	tend	VERB
ajbmeb-2854	188	27	to	to	PART
ajbmeb-2854	188	28	make	make	VERB
ajbmeb-2854	188	29	firms	firm	NOUN
ajbmeb-2854	188	30	borrow	borrow	VERB
ajbmeb-2854	188	31	instead	instead	ADV
ajbmeb-2854	188	32	of	of	ADP
ajbmeb-2854	188	33	raising	raise	VERB
ajbmeb-2854	188	34	equity	equity	NOUN
ajbmeb-2854	188	35	.	.	PUNCT
ajbmeb-2854	189	1	we	we	PRON
ajbmeb-2854	189	2	expect	expect	VERB
ajbmeb-2854	189	3	inflation	inflation	NOUN
ajbmeb-2854	189	4	and	and	CCONJ
ajbmeb-2854	189	5	firm	firm	ADJ
ajbmeb-2854	189	6	value	value	NOUN
ajbmeb-2854	189	7	are	be	AUX
ajbmeb-2854	189	8	positively	positively	ADV
ajbmeb-2854	189	9	related	relate	VERB
ajbmeb-2854	189	10	.	.	PUNCT
ajbmeb-2854	190	1	this	this	PRON
ajbmeb-2854	190	2	is	be	AUX
ajbmeb-2854	190	3	a	a	DET
ajbmeb-2854	190	4	macroeconomic	macroeconomic	ADJ
ajbmeb-2854	190	5	index	index	NOUN
ajbmeb-2854	190	6	as	as	ADP
ajbmeb-2854	190	7	published	publish	VERB
ajbmeb-2854	190	8	federal	federal	ADJ
ajbmeb-2854	190	9	office	office	NOUN
ajbmeb-2854	190	10	of	of	ADP
ajbmeb-2854	190	11	dependent	dependent	ADJ
ajbmeb-2854	190	12	variable	variable	NOUN
ajbmeb-2854	190	13	the	the	DET
ajbmeb-2854	190	14	dependent	dependent	ADJ
ajbmeb-2854	190	15	variable	variable	NOUN
ajbmeb-2854	190	16	for	for	ADP
ajbmeb-2854	190	17	this	this	DET
ajbmeb-2854	190	18	study	study	NOUN
ajbmeb-2854	190	19	are	be	AUX
ajbmeb-2854	190	20	:	:	PUNCT
ajbmeb-2854	190	21	tobin	tobin	PROPN
ajbmeb-2854	190	22	q	q	PROPN
ajbmeb-2854	190	23	tobin	tobin	PROPN
ajbmeb-2854	190	24	q	q	PROPN
ajbmeb-2854	190	25	(	(	PUNCT
ajbmeb-2854	190	26	tobq	tobq	PROPN
ajbmeb-2854	190	27	)	)	PUNCT
ajbmeb-2854	191	1	=	=	SYM
ajbmeb-2854	191	2	ratio	ratio	NOUN
ajbmeb-2854	191	3	expresses	express	VERB
ajbmeb-2854	191	4	the	the	DET
ajbmeb-2854	191	5	relationship	relationship	NOUN
ajbmeb-2854	191	6	between	between	ADP
ajbmeb-2854	191	7	market	market	NOUN
ajbmeb-2854	191	8	value	value	NOUN
ajbmeb-2854	191	9	of	of	ADP
ajbmeb-2854	191	10	a	a	DET
ajbmeb-2854	191	11	firm	firm	NOUN
ajbmeb-2854	191	12	and	and	CCONJ
ajbmeb-2854	191	13	the	the	DET
ajbmeb-2854	191	14	cost	cost	NOUN
ajbmeb-2854	191	15	of	of	ADP
ajbmeb-2854	191	16	replacing	replace	VERB
ajbmeb-2854	191	17	the	the	DET
ajbmeb-2854	191	18	asset	asset	NOUN
ajbmeb-2854	191	19	.	.	PUNCT
ajbmeb-2854	192	1	american	american	PROPN
ajbmeb-2854	192	2	journal	journal	PROPN
ajbmeb-2854	192	3	of	of	ADP
ajbmeb-2854	192	4	business	business	NOUN
ajbmeb-2854	192	5	management	management	NOUN
ajbmeb-2854	192	6	,	,	PUNCT
ajbmeb-2854	192	7	economics	economic	NOUN
ajbmeb-2854	192	8	and	and	CCONJ
ajbmeb-2854	192	9	banking	banking	NOUN
ajbmeb-2854	192	10	volume	volume	NOUN
ajbmeb-2854	192	11	35	35	NUM
ajbmeb-2854	192	12	april	april	PROPN
ajbmeb-2854	192	13	2025	2025	NUM
ajbmeb-2854	192	14	p	p	NOUN
ajbmeb-2854	192	15	a	a	DET
ajbmeb-2854	192	16	g	g	NOUN
ajbmeb-2854	192	17	e	e	NOUN
ajbmeb-2854	193	1	|	|	ADV
ajbmeb-2854	193	2	52	52	NUM
ajbmeb-2854	193	3	www.americanjournal.org	www.americanjournal.org	NOUN
ajbmeb-2854	193	4	we	we	PRON
ajbmeb-2854	193	5	adopt	adopt	VERB
ajbmeb-2854	193	6	chung	chung	PROPN
ajbmeb-2854	193	7	and	and	CCONJ
ajbmeb-2854	193	8	pruitt	pruitt	PROPN
ajbmeb-2854	193	9	’s	’s	PART
ajbmeb-2854	193	10	approximating	approximate	VERB
ajbmeb-2854	193	11	formulation	formulation	NOUN
ajbmeb-2854	193	12	of	of	ADP
ajbmeb-2854	193	13	tobin	tobin	NOUN
ajbmeb-2854	193	14	’s	’s	PART
ajbmeb-2854	193	15	q	q	NOUN
ajbmeb-2854	193	16	=	=	NOUN
ajbmeb-2854	193	17	mve	mve	NOUN
ajbmeb-2854	193	18	+	+	NOUN
ajbmeb-2854	193	19	ps	ps	NOUN
ajbmeb-2854	193	20	+	+	NOUN
ajbmeb-2854	193	21	debt	debt	NOUN
ajbmeb-2854	193	22	/	/	SYM
ajbmeb-2854	194	1	ta	ta	PROPN
ajbmeb-2854	194	2	where	where	SCONJ
ajbmeb-2854	194	3	:	:	PUNCT
ajbmeb-2854	194	4	mve	mve	VERB
ajbmeb-2854	194	5	=	=	SYM
ajbmeb-2854	194	6	firm	firm	NOUN
ajbmeb-2854	194	7	’s	’s	PART
ajbmeb-2854	194	8	stock	stock	NOUN
ajbmeb-2854	194	9	price	price	NOUN
ajbmeb-2854	194	10	multiplied	multiply	VERB
ajbmeb-2854	194	11	by	by	ADP
ajbmeb-2854	194	12	number	number	NOUN
ajbmeb-2854	194	13	of	of	ADP
ajbmeb-2854	194	14	outstanding	outstanding	ADJ
ajbmeb-2854	194	15	equity	equity	NOUN
ajbmeb-2854	194	16	shares	share	NOUN
ajbmeb-2854	194	17	.	.	PUNCT
ajbmeb-2854	195	1	ps	ps	NOUN
ajbmeb-2854	195	2	=	=	NOUN
ajbmeb-2854	195	3	value	value	NOUN
ajbmeb-2854	195	4	of	of	ADP
ajbmeb-2854	195	5	a	a	DET
ajbmeb-2854	195	6	firm	firm	NOUN
ajbmeb-2854	195	7	’s	’s	PART
ajbmeb-2854	195	8	outstanding	outstanding	ADJ
ajbmeb-2854	195	9	preferred	preferred	ADJ
ajbmeb-2854	195	10	stock	stock	NOUN
ajbmeb-2854	195	11	on	on	ADP
ajbmeb-2854	195	12	liquidation	liquidation	NOUN
ajbmeb-2854	195	13	debt	debt	NOUN
ajbmeb-2854	195	14	=	=	SYM
ajbmeb-2854	195	15	sum	sum	NOUN
ajbmeb-2854	195	16	of	of	ADP
ajbmeb-2854	195	17	short	short	ADJ
ajbmeb-2854	195	18	-	-	PUNCT
ajbmeb-2854	195	19	term	term	NOUN
ajbmeb-2854	195	20	liabilities	liability	NOUN
ajbmeb-2854	195	21	minus	minus	ADP
ajbmeb-2854	195	22	short	short	ADJ
ajbmeb-2854	195	23	term	term	NOUN
ajbmeb-2854	195	24	assets	asset	NOUN
ajbmeb-2854	195	25	plus	plus	CCONJ
ajbmeb-2854	195	26	the	the	DET
ajbmeb-2854	195	27	book	book	NOUN
ajbmeb-2854	195	28	value	value	NOUN
ajbmeb-2854	195	29	of	of	ADP
ajbmeb-2854	195	30	long	long	ADJ
ajbmeb-2854	195	31	term	term	NOUN
ajbmeb-2854	195	32	-	-	PUNCT
ajbmeb-2854	195	33	debt	debt	NOUN
ajbmeb-2854	195	34	;	;	PUNCT
ajbmeb-2854	195	35	ta	ta	X
ajbmeb-2854	195	36	=	=	PUNCT
ajbmeb-2854	195	37	total	total	NOUN
ajbmeb-2854	195	38	book	book	NOUN
ajbmeb-2854	195	39	value	value	NOUN
ajbmeb-2854	195	40	of	of	ADP
ajbmeb-2854	195	41	all	all	DET
ajbmeb-2854	195	42	assets	asset	NOUN
ajbmeb-2854	195	43	.	.	PUNCT
ajbmeb-2854	196	1	price	price	NOUN
ajbmeb-2854	196	2	to	to	ADP
ajbmeb-2854	196	3	earnings	earning	NOUN
ajbmeb-2854	196	4	ratios	ratio	NOUN
ajbmeb-2854	196	5	(	(	PUNCT
ajbmeb-2854	196	6	perr	perr	PROPN
ajbmeb-2854	196	7	)	)	PUNCT
ajbmeb-2854	196	8	this	this	DET
ajbmeb-2854	196	9	ratio	ratio	NOUN
ajbmeb-2854	196	10	is	be	AUX
ajbmeb-2854	196	11	a	a	DET
ajbmeb-2854	196	12	yardstick	yardstick	NOUN
ajbmeb-2854	196	13	for	for	ADP
ajbmeb-2854	196	14	measuring	measure	VERB
ajbmeb-2854	196	15	times	times	PROPN
ajbmeb-2854	196	16	share	share	NOUN
ajbmeb-2854	196	17	price	price	NOUN
ajbmeb-2854	196	18	cover	cover	NOUN
ajbmeb-2854	196	19	earnings	earning	NOUN
ajbmeb-2854	196	20	per	per	ADP
ajbmeb-2854	196	21	share	share	NOUN
ajbmeb-2854	196	22	in	in	ADP
ajbmeb-2854	196	23	a	a	DET
ajbmeb-2854	196	24	particular	particular	ADJ
ajbmeb-2854	196	25	period	period	NOUN
ajbmeb-2854	196	26	thus	thus	ADV
ajbmeb-2854	196	27	providing	provide	VERB
ajbmeb-2854	196	28	an	an	DET
ajbmeb-2854	196	29	indication	indication	NOUN
ajbmeb-2854	196	30	for	for	ADP
ajbmeb-2854	196	31	payment	payment	NOUN
ajbmeb-2854	196	32	by	by	ADP
ajbmeb-2854	196	33	investors	investor	NOUN
ajbmeb-2854	196	34	for	for	ADP
ajbmeb-2854	196	35	each	each	DET
ajbmeb-2854	196	36	financial	financial	ADJ
ajbmeb-2854	196	37	unit	unit	NOUN
ajbmeb-2854	196	38	of	of	ADP
ajbmeb-2854	196	39	measurement	measurement	NOUN
ajbmeb-2854	196	40	.	.	PUNCT
ajbmeb-2854	197	1	the	the	DET
ajbmeb-2854	197	2	method	method	NOUN
ajbmeb-2854	197	3	is	be	AUX
ajbmeb-2854	197	4	popular	popular	ADJ
ajbmeb-2854	197	5	in	in	ADP
ajbmeb-2854	197	6	judging	judge	VERB
ajbmeb-2854	197	7	or	or	CCONJ
ajbmeb-2854	197	8	evaluating	evaluate	VERB
ajbmeb-2854	197	9	financial	financial	ADJ
ajbmeb-2854	197	10	results	result	NOUN
ajbmeb-2854	197	11	.	.	PUNCT
ajbmeb-2854	198	1	the	the	DET
ajbmeb-2854	198	2	ratio	ratio	NOUN
ajbmeb-2854	198	3	gives	give	VERB
ajbmeb-2854	198	4	an	an	DET
ajbmeb-2854	198	5	indication	indication	NOUN
ajbmeb-2854	198	6	of	of	ADP
ajbmeb-2854	198	7	market	market	NOUN
ajbmeb-2854	198	8	perception	perception	NOUN
ajbmeb-2854	198	9	of	of	ADP
ajbmeb-2854	198	10	a	a	DET
ajbmeb-2854	198	11	firm	firm	NOUN
ajbmeb-2854	198	12	’s	’s	PART
ajbmeb-2854	198	13	share	share	NOUN
ajbmeb-2854	198	14	and	and	CCONJ
ajbmeb-2854	198	15	is	be	AUX
ajbmeb-2854	198	16	calculated	calculate	VERB
ajbmeb-2854	198	17	using	use	VERB
ajbmeb-2854	198	18	current	current	ADJ
ajbmeb-2854	198	19	price	price	NOUN
ajbmeb-2854	198	20	and	and	CCONJ
ajbmeb-2854	198	21	earnings	earning	NOUN
ajbmeb-2854	198	22	.	.	PUNCT
ajbmeb-2854	199	1	pe	pe	NOUN
ajbmeb-2854	200	1	ratio	ratio	NOUN
ajbmeb-2854	200	2	=	=	SYM
ajbmeb-2854	200	3	market	market	NOUN
ajbmeb-2854	200	4	price	price	NOUN
ajbmeb-2854	200	5	per	per	ADP
ajbmeb-2854	200	6	share	share	NOUN
ajbmeb-2854	200	7	earnings	earning	NOUN
ajbmeb-2854	200	8	per	per	ADP
ajbmeb-2854	200	9	share	share	NOUN
ajbmeb-2854	200	10	enterprise	enterprise	NOUN
ajbmeb-2854	200	11	value	value	NOUN
ajbmeb-2854	200	12	enva=	enva=	PROPN
ajbmeb-2854	200	13	enterprise	enterprise	NOUN
ajbmeb-2854	200	14	value	value	NOUN
ajbmeb-2854	200	15	/sales	/sales	PUNCT
ajbmeb-2854	200	16	model	model	NOUN
ajbmeb-2854	200	17	specification	specification	NOUN
ajbmeb-2854	200	18	tobq=	tobq=	NUM
ajbmeb-2854	200	19	0	0	SYM
ajbmeb-2854	200	20	+	+	NUM
ajbmeb-2854	200	21	1	1	PUNCT
ajbmeb-2854	200	22	mcp+2div	mcp+2div	VERB
ajbmeb-2854	200	23	+	+	ADJ
ajbmeb-2854	200	24	11inf+	11inf+	PROPN
ajbmeb-2854	200	25	u1,t	u1,t	PROPN
ajbmeb-2854	200	26	(	(	PUNCT
ajbmeb-2854	200	27	i	i	NOUN
ajbmeb-2854	200	28	)	)	PUNCT
ajbmeb-2854	200	29	perr	perr	VERB
ajbmeb-2854	200	30	=	=	PRON
ajbmeb-2854	200	31	0	0	NOUN
ajbmeb-2854	201	1	+	+	CCONJ
ajbmeb-2854	201	2	1mcp+2div+3inf+	1mcp+2div+3inf+	PROPN
ajbmeb-2854	201	3	u2,t	u2,t	PROPN
ajbmeb-2854	201	4	(	(	PUNCT
ajbmeb-2854	201	5	ii	ii	NOUN
ajbmeb-2854	201	6	)	)	PUNCT
ajbmeb-2854	201	7	enva	enva	NOUN
ajbmeb-2854	201	8	=	=	SYM
ajbmeb-2854	201	9	w0	w0	PROPN
ajbmeb-2854	201	10	+	+	CCONJ
ajbmeb-2854	201	11	w1mcp+	w1mcp+	CCONJ
ajbmeb-2854	201	12	w2div+	w2div+	PROPN
ajbmeb-2854	201	13	w3inf+	w3inf+	PROPN
ajbmeb-2854	201	14	u3,t(iii	u3,t(iii	PROPN
ajbmeb-2854	201	15	)	)	PUNCT
ajbmeb-2854	201	16	result	result	VERB
ajbmeb-2854	201	17	descriptive	descriptive	ADJ
ajbmeb-2854	201	18	statistics	statistic	NOUN
ajbmeb-2854	201	19	the	the	DET
ajbmeb-2854	201	20	result	result	NOUN
ajbmeb-2854	201	21	obtained	obtain	VERB
ajbmeb-2854	201	22	from	from	ADP
ajbmeb-2854	201	23	data	datum	NOUN
ajbmeb-2854	201	24	analysed	analyse	VERB
ajbmeb-2854	201	25	on	on	ADP
ajbmeb-2854	201	26	descriptive	descriptive	ADJ
ajbmeb-2854	201	27	statistics	statistic	NOUN
ajbmeb-2854	201	28	is	be	AUX
ajbmeb-2854	201	29	presented	present	VERB
ajbmeb-2854	201	30	on	on	ADP
ajbmeb-2854	201	31	table	table	NOUN
ajbmeb-2854	201	32	4.2	4.2	NUM
ajbmeb-2854	201	33	below	below	ADV
ajbmeb-2854	201	34	:	:	PUNCT
ajbmeb-2854	201	35	table	table	NOUN
ajbmeb-2854	201	36	1	1	NUM
ajbmeb-2854	201	37	.	.	PUNCT
ajbmeb-2854	201	38	descriptive	descriptive	ADJ
ajbmeb-2854	201	39	analysis	analysis	NOUN
ajbmeb-2854	202	1	mean	mean	NOUN
ajbmeb-2854	202	2	median	median	PROPN
ajbmeb-2854	202	3	max	max	PROPN
ajbmeb-2854	203	1	min	min	PROPN
ajbmeb-2854	203	2	std	std	PROPN
ajbmeb-2854	203	3	.	.	PROPN
ajbmeb-2854	203	4	dev	dev	PROPN
ajbmeb-2854	203	5	.	.	PUNCT
ajbmeb-2854	203	6	jarque	jarque	NOUN
ajbmeb-2854	203	7	-	-	PUNCT
ajbmeb-2854	203	8	bera	bera	NOUN
ajbmeb-2854	203	9	prob	prob	NOUN
ajbmeb-2854	203	10	obs	obs	PROPN
ajbmeb-2854	203	11	enva	enva	PROPN
ajbmeb-2854	203	12	1.327519	1.327519	NUM
ajbmeb-2854	203	13	1.033682	1.033682	NUM
ajbmeb-2854	203	14	6.077683	6.077683	NUM
ajbmeb-2854	203	15	-0.37589	-0.37589	NOUN
ajbmeb-2854	203	16	0.908881	0.908881	NUM
ajbmeb-2854	203	17	277.9778	277.9778	NUM
ajbmeb-2854	203	18	0	0	NUM
ajbmeb-2854	203	19	103	103	NUM
ajbmeb-2854	203	20	tobin	tobin	NOUN
ajbmeb-2854	203	21	66564.33	66564.33	NUM
ajbmeb-2854	203	22	680.3367	680.3367	NUM
ajbmeb-2854	203	23	2576213	2576213	NUM
ajbmeb-2854	203	24	0.624091	0.624091	NUM
ajbmeb-2854	203	25	379552.2	379552.2	NUM
ajbmeb-2854	203	26	4718.986	4718.986	NUM
ajbmeb-2854	203	27	0	0	NUM
ajbmeb-2854	203	28	103	103	NUM
ajbmeb-2854	203	29	peratio	peratio	NOUN
ajbmeb-2854	203	30	89.6115	89.6115	NUM
ajbmeb-2854	203	31	7.733333	7.733333	NUM
ajbmeb-2854	203	32	8100	8100	NUM
ajbmeb-2854	203	33	-64.3125	-64.3125	PUNCT
ajbmeb-2854	203	34	797.2917	797.2917	NUM
ajbmeb-2854	203	35	42825.27	42825.27	NUM
ajbmeb-2854	203	36	0	0	NUM
ajbmeb-2854	203	37	103	103	NUM
ajbmeb-2854	203	38	mcp	mcp	PROPN
ajbmeb-2854	203	39	3.02e+11	3.02e+11	PROPN
ajbmeb-2854	203	40	2.28e+10	2.28e+10	NUM
ajbmeb-2854	203	41	3.73e+12	3.73e+12	NUM
ajbmeb-2854	203	42	63600000	63600000	NUM
ajbmeb-2854	204	1	7.45e+11	7.45e+11	NUM
ajbmeb-2854	204	2	673.7763	673.7763	NUM
ajbmeb-2854	204	3	0	0	NUM
ajbmeb-2854	204	4	103	103	NUM
ajbmeb-2854	204	5	divpay	divpay	NOUN
ajbmeb-2854	204	6	2.24602	2.24602	NUM
ajbmeb-2854	204	7	0.352113	0.352113	NUM
ajbmeb-2854	204	8	190	190	NUM
ajbmeb-2854	204	9	-5	-5	NUM
ajbmeb-2854	204	10	18.71225	18.71225	NUM
ajbmeb-2854	204	11	42366.79	42366.79	NUM
ajbmeb-2854	204	12	0	0	NUM
ajbmeb-2854	204	13	103	103	NUM
ajbmeb-2854	204	14	infl	infl	NOUN
ajbmeb-2854	204	15	11.54359	11.54359	NUM
ajbmeb-2854	204	16	9.01	9.01	NUM
ajbmeb-2854	204	17	16.5	16.5	NUM
ajbmeb-2854	204	18	8.06	8.06	NUM
ajbmeb-2854	204	19	3.752132	3.752132	NUM
ajbmeb-2854	204	20	16.58693	16.58693	NUM
ajbmeb-2854	204	21	0.0003	0.0003	NUM
ajbmeb-2854	204	22	103	103	NUM
ajbmeb-2854	204	23	table	table	NOUN
ajbmeb-2854	204	24	1	1	NUM
ajbmeb-2854	204	25	shows	show	VERB
ajbmeb-2854	204	26	the	the	DET
ajbmeb-2854	204	27	descriptive	descriptive	ADJ
ajbmeb-2854	204	28	statistics	statistic	NOUN
ajbmeb-2854	204	29	for	for	ADP
ajbmeb-2854	204	30	the	the	DET
ajbmeb-2854	204	31	variables	variable	NOUN
ajbmeb-2854	204	32	and	and	CCONJ
ajbmeb-2854	204	33	as	as	SCONJ
ajbmeb-2854	204	34	observed	observe	VERB
ajbmeb-2854	204	35	,	,	PUNCT
ajbmeb-2854	204	36	the	the	DET
ajbmeb-2854	204	37	mean	mean	NOUN
ajbmeb-2854	204	38	for	for	ADP
ajbmeb-2854	204	39	enva	enva	PROPN
ajbmeb-2854	204	40	is	be	AUX
ajbmeb-2854	204	41	1.3275	1.3275	NUM
ajbmeb-2854	204	42	with	with	ADP
ajbmeb-2854	204	43	maximum	maximum	ADJ
ajbmeb-2854	204	44	and	and	CCONJ
ajbmeb-2854	204	45	minimum	minimum	ADJ
ajbmeb-2854	204	46	values	value	NOUN
ajbmeb-2854	204	47	of	of	ADP
ajbmeb-2854	204	48	6.0776	6.0776	NUM
ajbmeb-2854	204	49	and	and	CCONJ
ajbmeb-2854	204	50	-0.375	-0.375	PUNCT
ajbmeb-2854	204	51	.	.	PUNCT
ajbmeb-2854	205	1	the	the	DET
ajbmeb-2854	205	2	mean	mean	ADJ
ajbmeb-2854	205	3	value	value	NOUN
ajbmeb-2854	205	4	for	for	ADP
ajbmeb-2854	205	5	tobin	tobin	PROPN
ajbmeb-2854	205	6	is	be	AUX
ajbmeb-2854	205	7	66564.33	66564.33	NUM
ajbmeb-2854	205	8	which	which	PRON
ajbmeb-2854	205	9	is	be	AUX
ajbmeb-2854	205	10	high	high	ADJ
ajbmeb-2854	205	11	and	and	CCONJ
ajbmeb-2854	205	12	indicates	indicate	VERB
ajbmeb-2854	205	13	that	that	SCONJ
ajbmeb-2854	205	14	the	the	DET
ajbmeb-2854	205	15	firms	firm	NOUN
ajbmeb-2854	205	16	tend	tend	VERB
ajbmeb-2854	205	17	to	to	PART
ajbmeb-2854	205	18	have	have	VERB
ajbmeb-2854	205	19	high	high	ADJ
ajbmeb-2854	205	20	market	market	NOUN
ajbmeb-2854	205	21	valuation	valuation	NOUN
ajbmeb-2854	205	22	with	with	ADP
ajbmeb-2854	205	23	maximum	maximum	ADJ
ajbmeb-2854	205	24	and	and	CCONJ
ajbmeb-2854	205	25	minimum	minimum	ADJ
ajbmeb-2854	205	26	values	value	NOUN
ajbmeb-2854	205	27	of	of	ADP
ajbmeb-2854	205	28	2576213	2576213	NUM
ajbmeb-2854	205	29	and	and	CCONJ
ajbmeb-2854	205	30	0.624091	0.624091	NUM
ajbmeb-2854	205	31	respectively	respectively	ADV
ajbmeb-2854	205	32	.	.	PUNCT
ajbmeb-2854	206	1	pe	pe	X
ajbmeb-2854	206	2	-	-	PUNCT
ajbmeb-2854	206	3	ratio	ratio	NOUN
ajbmeb-2854	206	4	has	have	AUX
ajbmeb-2854	206	5	mean	mean	ADJ
ajbmeb-2854	206	6	value	value	NOUN
ajbmeb-2854	206	7	of	of	ADP
ajbmeb-2854	206	8	89.6115	89.6115	NUM
ajbmeb-2854	206	9	which	which	PRON
ajbmeb-2854	206	10	is	be	AUX
ajbmeb-2854	206	11	quite	quite	ADV
ajbmeb-2854	206	12	high	high	ADJ
ajbmeb-2854	206	13	with	with	ADP
ajbmeb-2854	206	14	maximum	maximum	ADJ
ajbmeb-2854	206	15	and	and	CCONJ
ajbmeb-2854	206	16	minimum	minimum	ADJ
ajbmeb-2854	206	17	values	value	NOUN
ajbmeb-2854	206	18	of	of	ADP
ajbmeb-2854	206	19	8100	8100	NUM
ajbmeb-2854	206	20	and	and	CCONJ
ajbmeb-2854	206	21	-64.3125	-64.3125	PUNCT
ajbmeb-2854	206	22	respectively	respectively	ADV
ajbmeb-2854	206	23	..	..	PUNCT
ajbmeb-2854	206	24	the	the	DET
ajbmeb-2854	206	25	mean	mean	NOUN
ajbmeb-2854	206	26	for	for	ADP
ajbmeb-2854	206	27	mcap	mcap	NOUN
ajbmeb-2854	206	28	stood	stand	VERB
ajbmeb-2854	206	29	at	at	ADP
ajbmeb-2854	206	30	3.02e+11	3.02e+11	NUM
ajbmeb-2854	206	31	with	with	ADP
ajbmeb-2854	206	32	maximum	maximum	ADJ
ajbmeb-2854	206	33	and	and	CCONJ
ajbmeb-2854	206	34	minimum	minimum	ADJ
ajbmeb-2854	206	35	values	value	NOUN
ajbmeb-2854	206	36	of	of	ADP
ajbmeb-2854	206	37	3.73e+12	3.73e+12	NUM
ajbmeb-2854	206	38	and	and	CCONJ
ajbmeb-2854	206	39	63600000	63600000	NUM
ajbmeb-2854	206	40	american	american	ADJ
ajbmeb-2854	206	41	journal	journal	PROPN
ajbmeb-2854	206	42	of	of	ADP
ajbmeb-2854	206	43	business	business	NOUN
ajbmeb-2854	206	44	management	management	NOUN
ajbmeb-2854	206	45	,	,	PUNCT
ajbmeb-2854	206	46	economics	economic	NOUN
ajbmeb-2854	206	47	and	and	CCONJ
ajbmeb-2854	206	48	banking	banking	NOUN
ajbmeb-2854	206	49	volume	volume	NOUN
ajbmeb-2854	206	50	35	35	NUM
ajbmeb-2854	206	51	april	april	PROPN
ajbmeb-2854	206	52	2025	2025	NUM
ajbmeb-2854	207	1	p	p	NOUN
ajbmeb-2854	207	2	a	a	DET
ajbmeb-2854	207	3	g	g	NOUN
ajbmeb-2854	207	4	e	e	NOUN
ajbmeb-2854	207	5	|	|	NOUN
ajbmeb-2854	207	6	53	53	NUM
ajbmeb-2854	207	7	www.americanjournal.org	www.americanjournal.org	NOUN
ajbmeb-2854	207	8	respectively	respectively	ADV
ajbmeb-2854	207	9	.	.	PUNCT
ajbmeb-2854	208	1	divpay	divpay	PROPN
ajbmeb-2854	208	2	has	have	VERB
ajbmeb-2854	208	3	a	a	DET
ajbmeb-2854	208	4	positive	positive	ADJ
ajbmeb-2854	208	5	mean	mean	NOUN
ajbmeb-2854	208	6	value	value	NOUN
ajbmeb-2854	208	7	of	of	ADP
ajbmeb-2854	208	8	2.246	2.246	NUM
ajbmeb-2854	208	9	with	with	ADP
ajbmeb-2854	208	10	maximum	maximum	ADJ
ajbmeb-2854	208	11	and	and	CCONJ
ajbmeb-2854	208	12	minimum	minimum	ADJ
ajbmeb-2854	208	13	values	value	NOUN
ajbmeb-2854	208	14	of	of	ADP
ajbmeb-2854	208	15	190	190	NUM
ajbmeb-2854	208	16	and	and	CCONJ
ajbmeb-2854	208	17	-5	-5	VERB
ajbmeb-2854	208	18	respectively	respectively	ADV
ajbmeb-2854	208	19	..	..	PUNCT
ajbmeb-2854	208	20	the	the	DET
ajbmeb-2854	208	21	mean	mean	NOUN
ajbmeb-2854	208	22	for	for	ADP
ajbmeb-2854	208	23	infl	infl	PROPN
ajbmeb-2854	208	24	stood	stand	VERB
ajbmeb-2854	208	25	at	at	ADP
ajbmeb-2854	208	26	11.5436	11.5436	NUM
ajbmeb-2854	208	27	with	with	ADP
ajbmeb-2854	208	28	maximum	maximum	ADJ
ajbmeb-2854	208	29	and	and	CCONJ
ajbmeb-2854	208	30	minimum	minimum	ADJ
ajbmeb-2854	208	31	values	value	NOUN
ajbmeb-2854	208	32	of	of	ADP
ajbmeb-2854	208	33	16.5	16.5	NUM
ajbmeb-2854	208	34	and	and	CCONJ
ajbmeb-2854	208	35	8.06	8.06	NUM
ajbmeb-2854	208	36	respectively	respectively	ADV
ajbmeb-2854	208	37	.	.	PUNCT
ajbmeb-2854	209	1	stacked	stack	VERB
ajbmeb-2854	209	2	cross	cross	ADJ
ajbmeb-2854	209	3	-	-	ADJ
ajbmeb-2854	209	4	section	section	ADJ
ajbmeb-2854	209	5	trend	trend	NOUN
ajbmeb-2854	209	6	of	of	ADP
ajbmeb-2854	209	7	variables	variable	NOUN
ajbmeb-2854	209	8	the	the	DET
ajbmeb-2854	209	9	stacked	stacked	PROPN
ajbmeb-2854	209	10	cross	cross	PROPN
ajbmeb-2854	209	11	section	section	PROPN
ajbmeb-2854	209	12	average	average	ADJ
ajbmeb-2854	209	13	movements	movement	NOUN
ajbmeb-2854	209	14	in	in	ADP
ajbmeb-2854	209	15	the	the	DET
ajbmeb-2854	209	16	variables	variable	NOUN
ajbmeb-2854	209	17	,	,	PUNCT
ajbmeb-2854	209	18	reveals	reveal	VERB
ajbmeb-2854	209	19	the	the	DET
ajbmeb-2854	209	20	presence	presence	NOUN
ajbmeb-2854	209	21	of	of	ADP
ajbmeb-2854	209	22	year	year	NOUN
ajbmeb-2854	209	23	on	on	ADP
ajbmeb-2854	209	24	year	year	NOUN
ajbmeb-2854	209	25	fluctuations	fluctuation	NOUN
ajbmeb-2854	209	26	across	across	ADP
ajbmeb-2854	209	27	the	the	DET
ajbmeb-2854	209	28	cross	cross	NOUN
ajbmeb-2854	209	29	-	-	NOUN
ajbmeb-2854	209	30	sections	section	NOUN
ajbmeb-2854	209	31	for	for	ADP
ajbmeb-2854	209	32	a	a	DET
ajbmeb-2854	209	33	number	number	NOUN
ajbmeb-2854	209	34	of	of	ADP
ajbmeb-2854	209	35	the	the	DET
ajbmeb-2854	209	36	variables	variable	NOUN
ajbmeb-2854	209	37	.	.	PUNCT
ajbmeb-2854	210	1	enva	enva	PROPN
ajbmeb-2854	210	2	shows	show	VERB
ajbmeb-2854	210	3	significant	significant	ADJ
ajbmeb-2854	210	4	heterogeneity	heterogeneity	NOUN
ajbmeb-2854	210	5	in	in	ADP
ajbmeb-2854	210	6	its	its	PRON
ajbmeb-2854	210	7	behaviour	behaviour	NOUN
ajbmeb-2854	210	8	across	across	ADP
ajbmeb-2854	210	9	all	all	DET
ajbmeb-2854	210	10	firms	firm	NOUN
ajbmeb-2854	210	11	but	but	CCONJ
ajbmeb-2854	210	12	in	in	ADP
ajbmeb-2854	210	13	the	the	DET
ajbmeb-2854	210	14	case	case	NOUN
ajbmeb-2854	210	15	of	of	ADP
ajbmeb-2854	210	16	tobin	tobin	PROPN
ajbmeb-2854	210	17	q	q	NOUN
ajbmeb-2854	210	18	,	,	PUNCT
ajbmeb-2854	210	19	there	there	PRON
ajbmeb-2854	210	20	is	be	VERB
ajbmeb-2854	210	21	evidence	evidence	NOUN
ajbmeb-2854	210	22	of	of	ADP
ajbmeb-2854	210	23	concentration	concentration	NOUN
ajbmeb-2854	210	24	of	of	ADP
ajbmeb-2854	210	25	high	high	ADJ
ajbmeb-2854	210	26	values	value	NOUN
ajbmeb-2854	210	27	at	at	ADP
ajbmeb-2854	210	28	a	a	DET
ajbmeb-2854	210	29	period	period	NOUN
ajbmeb-2854	210	30	for	for	ADP
ajbmeb-2854	210	31	most	most	ADJ
ajbmeb-2854	210	32	of	of	ADP
ajbmeb-2854	210	33	the	the	DET
ajbmeb-2854	210	34	firms	firm	NOUN
ajbmeb-2854	210	35	as	as	SCONJ
ajbmeb-2854	210	36	shown	show	VERB
ajbmeb-2854	210	37	in	in	ADP
ajbmeb-2854	210	38	the	the	DET
ajbmeb-2854	210	39	peaked	peaked	ADJ
ajbmeb-2854	210	40	nature	nature	NOUN
ajbmeb-2854	210	41	of	of	ADP
ajbmeb-2854	210	42	the	the	DET
ajbmeb-2854	210	43	graph	graph	NOUN
ajbmeb-2854	210	44	.	.	PUNCT
ajbmeb-2854	211	1	the	the	DET
ajbmeb-2854	211	2	same	same	ADJ
ajbmeb-2854	211	3	behaviour	behaviour	NOUN
ajbmeb-2854	211	4	is	be	AUX
ajbmeb-2854	211	5	also	also	ADV
ajbmeb-2854	211	6	observed	observe	VERB
ajbmeb-2854	211	7	for	for	ADP
ajbmeb-2854	211	8	peratio	peratio	NOUN
ajbmeb-2854	211	9	as	as	SCONJ
ajbmeb-2854	211	10	considerable	considerable	ADJ
ajbmeb-2854	211	11	concentration	concentration	NOUN
ajbmeb-2854	211	12	is	be	AUX
ajbmeb-2854	211	13	observed	observe	VERB
ajbmeb-2854	211	14	to	to	PART
ajbmeb-2854	211	15	be	be	AUX
ajbmeb-2854	211	16	peaked	peak	VERB
ajbmeb-2854	211	17	at	at	ADP
ajbmeb-2854	211	18	a	a	DET
ajbmeb-2854	211	19	year	year	NOUN
ajbmeb-2854	211	20	indicating	indicate	VERB
ajbmeb-2854	211	21	less	less	ADV
ajbmeb-2854	211	22	firm	firm	ADJ
ajbmeb-2854	211	23	to	to	PART
ajbmeb-2854	211	24	firm	firm	VERB
ajbmeb-2854	211	25	and	and	CCONJ
ajbmeb-2854	211	26	year	year	NOUN
ajbmeb-2854	211	27	on	on	ADP
ajbmeb-2854	211	28	year	year	NOUN
ajbmeb-2854	211	29	heterogeneity	heterogeneity	NOUN
ajbmeb-2854	211	30	.	.	PUNCT
ajbmeb-2854	212	1	mcap	mcap	NOUN
ajbmeb-2854	212	2	is	be	AUX
ajbmeb-2854	212	3	observed	observe	VERB
ajbmeb-2854	212	4	to	to	PART
ajbmeb-2854	212	5	have	have	AUX
ajbmeb-2854	212	6	witnessed	witness	VERB
ajbmeb-2854	212	7	high	high	ADJ
ajbmeb-2854	212	8	value	value	NOUN
ajbmeb-2854	212	9	in	in	ADP
ajbmeb-2854	212	10	2017	2017	NUM
ajbmeb-2854	212	11	,	,	PUNCT
ajbmeb-2854	212	12	following	follow	VERB
ajbmeb-2854	212	13	a	a	DET
ajbmeb-2854	212	14	period	period	NOUN
ajbmeb-2854	212	15	of	of	ADP
ajbmeb-2854	212	16	low	low	ADJ
ajbmeb-2854	212	17	market	market	NOUN
ajbmeb-2854	212	18	activity	activity	NOUN
ajbmeb-2854	212	19	at	at	ADP
ajbmeb-2854	212	20	2014	2014	NUM
ajbmeb-2854	212	21	,	,	PUNCT
ajbmeb-2854	212	22	2015	2015	NUM
ajbmeb-2854	212	23	and	and	CCONJ
ajbmeb-2854	212	24	2016	2016	NUM
ajbmeb-2854	212	25	.	.	PUNCT
ajbmeb-2854	213	1	dividend	dividend	NOUN
ajbmeb-2854	213	2	policy	policy	NOUN
ajbmeb-2854	213	3	is	be	AUX
ajbmeb-2854	213	4	a	a	DET
ajbmeb-2854	213	5	very	very	ADV
ajbmeb-2854	213	6	critical	critical	ADJ
ajbmeb-2854	213	7	issue	issue	NOUN
ajbmeb-2854	213	8	for	for	ADP
ajbmeb-2854	213	9	most	most	ADJ
ajbmeb-2854	213	10	companies	company	NOUN
ajbmeb-2854	213	11	because	because	SCONJ
ajbmeb-2854	213	12	of	of	ADP
ajbmeb-2854	213	13	shareholder	shareholder	NOUN
ajbmeb-2854	213	14	interest	interest	NOUN
ajbmeb-2854	213	15	.	.	PUNCT
ajbmeb-2854	214	1	divpay	divpay	NOUN
ajbmeb-2854	214	2	exhibits	exhibit	VERB
ajbmeb-2854	214	3	a	a	DET
ajbmeb-2854	214	4	rather	rather	ADV
ajbmeb-2854	214	5	distinct	distinct	ADJ
ajbmeb-2854	214	6	pattern	pattern	NOUN
ajbmeb-2854	214	7	across	across	ADP
ajbmeb-2854	214	8	the	the	DET
ajbmeb-2854	214	9	stacked	stacked	ADJ
ajbmeb-2854	214	10	cross	cross	NOUN
ajbmeb-2854	214	11	-	-	NOUN
ajbmeb-2854	214	12	sections	section	NOUN
ajbmeb-2854	214	13	indicating	indicate	VERB
ajbmeb-2854	214	14	significant	significant	ADJ
ajbmeb-2854	214	15	firm	firm	ADJ
ajbmeb-2854	214	16	heterogeneity	heterogeneity	PROPN
ajbmeb-2854	214	17	infl	infl	PROPN
ajbmeb-2854	214	18	show	show	VERB
ajbmeb-2854	214	19	less	less	ADJ
ajbmeb-2854	214	20	variability	variability	NOUN
ajbmeb-2854	214	21	year	year	NOUN
ajbmeb-2854	214	22	on	on	ADP
ajbmeb-2854	214	23	-	-	PUNCT
ajbmeb-2854	214	24	year	year	NOUN
ajbmeb-2854	214	25	as	as	SCONJ
ajbmeb-2854	214	26	the	the	DET
ajbmeb-2854	214	27	rate	rate	NOUN
ajbmeb-2854	214	28	as	as	SCONJ
ajbmeb-2854	214	29	appeared	appear	VERB
ajbmeb-2854	214	30	stable	stable	ADJ
ajbmeb-2854	214	31	at	at	ADP
ajbmeb-2854	214	32	double	double	ADJ
ajbmeb-2854	214	33	digit	digit	NOUN
ajbmeb-2854	214	34	and	and	CCONJ
ajbmeb-2854	214	35	finally	finally	ADV
ajbmeb-2854	214	36	firm	firm	ADJ
ajbmeb-2854	214	37	size	size	NOUN
ajbmeb-2854	214	38	as	as	SCONJ
ajbmeb-2854	214	39	expected	expect	VERB
ajbmeb-2854	214	40	depicts	depict	VERB
ajbmeb-2854	214	41	significant	significant	ADJ
ajbmeb-2854	214	42	firm	firm	ADJ
ajbmeb-2854	214	43	heterogeneity	heterogeneity	NOUN
ajbmeb-2854	214	44	pearson	pearson	NOUN
ajbmeb-2854	214	45	correlation	correlation	NOUN
ajbmeb-2854	214	46	result	result	VERB
ajbmeb-2854	214	47	the	the	DET
ajbmeb-2854	214	48	result	result	NOUN
ajbmeb-2854	214	49	showing	show	VERB
ajbmeb-2854	214	50	correlation	correlation	NOUN
ajbmeb-2854	214	51	amongst	amongst	ADP
ajbmeb-2854	214	52	the	the	DET
ajbmeb-2854	214	53	variables	variable	NOUN
ajbmeb-2854	214	54	are	be	AUX
ajbmeb-2854	214	55	presented	present	VERB
ajbmeb-2854	214	56	on	on	ADP
ajbmeb-2854	214	57	table	table	NOUN
ajbmeb-2854	214	58	2	2	NUM
ajbmeb-2854	214	59	below	below	ADP
ajbmeb-2854	214	60	table	table	NOUN
ajbmeb-2854	214	61	2	2	NUM
ajbmeb-2854	214	62	:	:	PUNCT
ajbmeb-2854	214	63	pearson	pearson	NOUN
ajbmeb-2854	214	64	correlation	correlation	NOUN
ajbmeb-2854	214	65	table	table	NOUN
ajbmeb-2854	214	66	enva	enva	PROPN
ajbmeb-2854	214	67	tobin	tobin	PROPN
ajbmeb-2854	214	68	peratio	peratio	PROPN
ajbmeb-2854	214	69	lev	lev	PROPN
ajbmeb-2854	214	70	mcp	mcp	PROPN
ajbmeb-2854	214	71	effi	effi	PROPN
ajbmeb-2854	214	72	atang	atang	PROPN
ajbmeb-2854	214	73	divpay	divpay	PROPN
ajbmeb-2854	214	74	liq	liq	PROPN
ajbmeb-2854	214	75	infl	infl	PROPN
ajbmeb-2854	214	76	fsize	fsize	NOUN
ajbmeb-2854	214	77	enva	enva	PROPN
ajbmeb-2854	214	78	1	1	NUM
ajbmeb-2854	214	79	tobin	tobin	PROPN
ajbmeb-2854	214	80	0.3242	0.3242	NUM
ajbmeb-2854	214	81	1	1	NUM
ajbmeb-2854	214	82	prob	prob	NOUN
ajbmeb-2854	214	83	0.0008	0.0008	NUM
ajbmeb-2854	214	84	peratio	peratio	NOUN
ajbmeb-2854	214	85	-0.080	-0.080	PUNCT
ajbmeb-2854	214	86	-0.017	-0.017	PUNCT
ajbmeb-2854	214	87	1	1	NUM
ajbmeb-2854	214	88	prob	prob	NOUN
ajbmeb-2854	214	89	0.4211	0.4211	NUM
ajbmeb-2854	214	90	0.8644	0.8644	NUM
ajbmeb-2854	214	91	mcp	mcp	PROPN
ajbmeb-2854	214	92	0.2875	0.2875	NUM
ajbmeb-2854	214	93	0.6465	0.6465	NUM
ajbmeb-2854	214	94	0.04945	0.04945	NUM
ajbmeb-2854	214	95	-0.25	-0.25	NUM
ajbmeb-2854	214	96	1	1	NUM
ajbmeb-2854	214	97	prob	prob	NOUN
ajbmeb-2854	214	98	0.0032	0.0032	NUM
ajbmeb-2854	214	99	0.000	0.000	NUM
ajbmeb-2854	214	100	0.6199	0.6199	NUM
ajbmeb-2854	214	101	0.011	0.011	NUM
ajbmeb-2854	214	102	divpay	divpay	NOUN
ajbmeb-2854	214	103	-0.083	-0.083	NOUN
ajbmeb-2854	214	104	-0.0172	-0.0172	NOUN
ajbmeb-2854	214	105	0.99899	0.99899	NUM
ajbmeb-2854	214	106	0.15	0.15	NUM
ajbmeb-2854	214	107	0.0469	0.0469	NUM
ajbmeb-2854	214	108	-0.06	-0.06	NUM
ajbmeb-2854	214	109	-0.031	-0.031	SYM
ajbmeb-2854	214	110	1	1	NUM
ajbmeb-2854	214	111	prob	prob	NOUN
ajbmeb-2854	214	112	0.4031	0.4031	NUM
ajbmeb-2854	214	113	0.8631	0.8631	NUM
ajbmeb-2854	214	114	0.000	0.000	NUM
ajbmeb-2854	214	115	0.132	0.132	NUM
ajbmeb-2854	214	116	0.6382	0.6382	NUM
ajbmeb-2854	214	117	0.519	0.519	NUM
ajbmeb-2854	214	118	0.7568	0.7568	NUM
ajbmeb-2854	214	119	infl	infl	PROPN
ajbmeb-2854	214	120	0.0094	0.0094	NUM
ajbmeb-2854	214	121	0.0838	0.0838	NUM
ajbmeb-2854	214	122	0.10817	0.10817	NUM
ajbmeb-2854	214	123	-0.02	-0.02	NOUN
ajbmeb-2854	214	124	-0.015	-0.015	NUM
ajbmeb-2854	214	125	-0.04	-0.04	NUM
ajbmeb-2854	214	126	-0.117	-0.117	NUM
ajbmeb-2854	214	127	0.1	0.1	NUM
ajbmeb-2854	214	128	0.0996	0.0996	NUM
ajbmeb-2854	214	129	1	1	NUM
ajbmeb-2854	214	130	prob	prob	NOUN
ajbmeb-2854	214	131	0.9251	0.9251	NUM
ajbmeb-2854	214	132	0.4001	0.4001	NUM
ajbmeb-2854	214	133	0.2768	0.2768	NUM
ajbmeb-2854	214	134	0.857	0.857	NUM
ajbmeb-2854	214	135	0.8771	0.8771	NUM
ajbmeb-2854	214	136	0.728	0.728	NUM
ajbmeb-2854	214	137	0.2413	0.2413	NUM
ajbmeb-2854	214	138	0.3147	0.3147	NUM
ajbmeb-2854	214	139	0.3167	0.3167	NUM
ajbmeb-2854	214	140	table	table	NOUN
ajbmeb-2854	214	141	2	2	NUM
ajbmeb-2854	214	142	.	.	PUNCT
ajbmeb-2854	214	143	shows	show	VERB
ajbmeb-2854	214	144	the	the	DET
ajbmeb-2854	214	145	pearson	pearson	PROPN
ajbmeb-2854	214	146	product	product	NOUN
ajbmeb-2854	214	147	moment	moment	NOUN
ajbmeb-2854	214	148	correlation	correlation	NOUN
ajbmeb-2854	214	149	and	and	CCONJ
ajbmeb-2854	214	150	the	the	DET
ajbmeb-2854	214	151	significant	significant	ADJ
ajbmeb-2854	214	152	p	p	NOUN
ajbmeb-2854	214	153	-	-	PUNCT
ajbmeb-2854	214	154	values	value	NOUN
ajbmeb-2854	214	155	for	for	ADP
ajbmeb-2854	214	156	the	the	DET
ajbmeb-2854	214	157	variables	variable	NOUN
ajbmeb-2854	214	158	.	.	PUNCT
ajbmeb-2854	215	1	the	the	DET
ajbmeb-2854	215	2	result	result	NOUN
ajbmeb-2854	215	3	as	as	SCONJ
ajbmeb-2854	215	4	presented	present	VERB
ajbmeb-2854	215	5	in	in	ADP
ajbmeb-2854	215	6	table	table	NOUN
ajbmeb-2854	215	7	4.2	4.2	NUM
ajbmeb-2854	215	8	and	and	CCONJ
ajbmeb-2854	215	9	it	it	PRON
ajbmeb-2854	215	10	shows	show	VERB
ajbmeb-2854	215	11	that	that	SCONJ
ajbmeb-2854	215	12	enva	enva	PROPN
ajbmeb-2854	215	13	is	be	AUX
ajbmeb-2854	215	14	positively	positively	ADV
ajbmeb-2854	215	15	correlated	correlate	VERB
ajbmeb-2854	215	16	with	with	ADP
ajbmeb-2854	215	17	mcap	mcap	NOUN
ajbmeb-2854	215	18	(	(	PUNCT
ajbmeb-2854	215	19	r=0.2875	r=0.2875	NOUN
ajbmeb-2854	215	20	,	,	PUNCT
ajbmeb-2854	215	21	p=	p=	NOUN
ajbmeb-2854	215	22	0.003	0.003	NUM
ajbmeb-2854	215	23	)	)	PUNCT
ajbmeb-2854	215	24	,	,	PUNCT
ajbmeb-2854	215	25	infl	infl	PROPN
ajbmeb-2854	215	26	(	(	PUNCT
ajbmeb-2854	215	27	r=0.0094	r=0.0094	PROPN
ajbmeb-2854	215	28	,	,	PUNCT
ajbmeb-2854	215	29	p=	p=	NOUN
ajbmeb-2854	215	30	0.9251	0.9251	NUM
ajbmeb-2854	215	31	)	)	PUNCT
ajbmeb-2854	215	32	but	but	CCONJ
ajbmeb-2854	215	33	negatively	negatively	ADV
ajbmeb-2854	215	34	correlated	correlate	VERB
ajbmeb-2854	215	35	divpay	divpay	NOUN
ajbmeb-2854	215	36	(	(	PUNCT
ajbmeb-2854	215	37	r=-0.083	r=-0.083	NOUN
ajbmeb-2854	215	38	,	,	PUNCT
ajbmeb-2854	215	39	p=	p=	NOUN
ajbmeb-2854	215	40	0.4031	0.4031	NUM
ajbmeb-2854	215	41	)	)	PUNCT
ajbmeb-2854	215	42	.	.	PUNCT
ajbmeb-2854	216	1	in	in	ADP
ajbmeb-2854	216	2	addition	addition	NOUN
ajbmeb-2854	216	3	,	,	PUNCT
ajbmeb-2854	216	4	the	the	DET
ajbmeb-2854	216	5	table	table	NOUN
ajbmeb-2854	216	6	shows	show	VERB
ajbmeb-2854	216	7	the	the	DET
ajbmeb-2854	216	8	correlations	correlation	NOUN
ajbmeb-2854	216	9	between	between	ADP
ajbmeb-2854	216	10	tobin	tobin	PROPN
ajbmeb-2854	216	11	q	q	PROPN
ajbmeb-2854	216	12	and	and	CCONJ
ajbmeb-2854	216	13	the	the	DET
ajbmeb-2854	216	14	other	other	ADJ
ajbmeb-2854	216	15	independent	independent	ADJ
ajbmeb-2854	216	16	variables	variable	NOUN
ajbmeb-2854	216	17	and	and	CCONJ
ajbmeb-2854	216	18	as	as	SCONJ
ajbmeb-2854	216	19	observed	observe	VERB
ajbmeb-2854	216	20	tobinq	tobinq	NOUN
ajbmeb-2854	216	21	is	be	AUX
ajbmeb-2854	216	22	positively	positively	ADV
ajbmeb-2854	216	23	correlated	correlate	VERB
ajbmeb-2854	216	24	with	with	ADP
ajbmeb-2854	216	25	mcap	mcap	NOUN
ajbmeb-2854	216	26	(	(	PUNCT
ajbmeb-2854	216	27	r=0.6465	r=0.6465	ADV
ajbmeb-2854	216	28	,	,	PUNCT
ajbmeb-2854	216	29	p=	p=	NOUN
ajbmeb-2854	216	30	0.000	0.000	NUM
ajbmeb-2854	216	31	)	)	PUNCT
ajbmeb-2854	216	32	,	,	PUNCT
ajbmeb-2854	216	33	)	)	PUNCT
ajbmeb-2854	216	34	,	,	PUNCT
ajbmeb-2854	216	35	infl	infl	PROPN
ajbmeb-2854	216	36	(	(	PUNCT
ajbmeb-2854	216	37	r=0.0838	r=0.0838	PROPN
ajbmeb-2854	216	38	,	,	PUNCT
ajbmeb-2854	216	39	p=	p=	NOUN
ajbmeb-2854	216	40	0.4001	0.4001	NUM
ajbmeb-2854	216	41	)	)	PUNCT
ajbmeb-2854	216	42	but	but	CCONJ
ajbmeb-2854	216	43	negatively	negatively	ADV
ajbmeb-2854	216	44	correlated	correlate	VERB
ajbmeb-2854	216	45	with	with	ADP
ajbmeb-2854	216	46	divpay	divpay	NOUN
ajbmeb-2854	216	47	(	(	PUNCT
ajbmeb-2854	216	48	r=-0.0172	r=-0.0172	PROPN
ajbmeb-2854	216	49	,	,	PUNCT
ajbmeb-2854	216	50	p=	p=	NOUN
ajbmeb-2854	216	51	0.8631	0.8631	NUM
ajbmeb-2854	216	52	)	)	PUNCT
ajbmeb-2854	216	53	in	in	ADP
ajbmeb-2854	216	54	addition	addition	NOUN
ajbmeb-2854	216	55	,	,	PUNCT
ajbmeb-2854	216	56	the	the	DET
ajbmeb-2854	216	57	table	table	NOUN
ajbmeb-2854	216	58	shows	show	VERB
ajbmeb-2854	216	59	the	the	DET
ajbmeb-2854	216	60	correlations	correlation	NOUN
ajbmeb-2854	216	61	between	between	ADP
ajbmeb-2854	216	62	peratio	peratio	PROPN
ajbmeb-2854	216	63	and	and	CCONJ
ajbmeb-2854	216	64	the	the	DET
ajbmeb-2854	216	65	other	other	ADJ
ajbmeb-2854	216	66	independent	independent	ADJ
ajbmeb-2854	216	67	variables	variable	NOUN
ajbmeb-2854	216	68	and	and	CCONJ
ajbmeb-2854	216	69	as	as	ADP
ajbmeb-2854	216	70	observed	observed	ADJ
ajbmeb-2854	216	71	american	american	ADJ
ajbmeb-2854	216	72	journal	journal	PROPN
ajbmeb-2854	216	73	of	of	ADP
ajbmeb-2854	216	74	business	business	NOUN
ajbmeb-2854	216	75	management	management	NOUN
ajbmeb-2854	216	76	,	,	PUNCT
ajbmeb-2854	216	77	economics	economic	NOUN
ajbmeb-2854	216	78	and	and	CCONJ
ajbmeb-2854	216	79	banking	banking	NOUN
ajbmeb-2854	216	80	volume	volume	NOUN
ajbmeb-2854	216	81	35	35	NUM
ajbmeb-2854	216	82	april	april	PROPN
ajbmeb-2854	216	83	2025	2025	NUM
ajbmeb-2854	216	84	p	p	NOUN
ajbmeb-2854	216	85	a	a	DET
ajbmeb-2854	216	86	g	g	NOUN
ajbmeb-2854	216	87	e	e	NOUN
ajbmeb-2854	216	88	|	|	ADV
ajbmeb-2854	216	89	54	54	NUM
ajbmeb-2854	216	90	www.americanjournal.org	www.americanjournal.org	NOUN
ajbmeb-2854	216	91	peratio	peratio	NOUN
ajbmeb-2854	216	92	is	be	AUX
ajbmeb-2854	216	93	positively	positively	ADV
ajbmeb-2854	216	94	correlated	correlate	VERB
ajbmeb-2854	216	95	with	with	ADP
ajbmeb-2854	216	96	mcap	mcap	NOUN
ajbmeb-2854	216	97	(	(	PUNCT
ajbmeb-2854	216	98	r=0.049	r=0.049	NUM
ajbmeb-2854	216	99	,	,	PUNCT
ajbmeb-2854	216	100	p=	p=	NOUN
ajbmeb-2854	216	101	0.6199	0.6199	NUM
ajbmeb-2854	216	102	)	)	PUNCT
ajbmeb-2854	216	103	,	,	PUNCT
ajbmeb-2854	216	104	divpay	divpay	NOUN
ajbmeb-2854	216	105	(	(	PUNCT
ajbmeb-2854	216	106	r=0.998	r=0.998	PROPN
ajbmeb-2854	216	107	,	,	PUNCT
ajbmeb-2854	216	108	p=	p=	NOUN
ajbmeb-2854	216	109	0.000	0.000	NUM
ajbmeb-2854	216	110	)	)	PUNCT
ajbmeb-2854	216	111	,	,	PUNCT
ajbmeb-2854	216	112	infl	infl	PROPN
ajbmeb-2854	216	113	(	(	PUNCT
ajbmeb-2854	216	114	r=0.1082	r=0.1082	PROPN
ajbmeb-2854	216	115	,	,	PUNCT
ajbmeb-2854	216	116	p=	p=	NOUN
ajbmeb-2854	216	117	0.2768	0.2768	NUM
ajbmeb-2854	216	118	)	)	PUNCT
ajbmeb-2854	216	119	.	.	PUNCT
ajbmeb-2854	217	1	the	the	DET
ajbmeb-2854	217	2	positive	positive	ADJ
ajbmeb-2854	217	3	correlations	correlation	NOUN
ajbmeb-2854	217	4	indicate	indicate	VERB
ajbmeb-2854	217	5	that	that	SCONJ
ajbmeb-2854	217	6	a	a	DET
ajbmeb-2854	217	7	rise	rise	NOUN
ajbmeb-2854	217	8	in	in	ADP
ajbmeb-2854	217	9	one	one	NUM
ajbmeb-2854	217	10	variable	variable	NOUN
ajbmeb-2854	217	11	will	will	AUX
ajbmeb-2854	217	12	result	result	VERB
ajbmeb-2854	217	13	in	in	ADP
ajbmeb-2854	217	14	a	a	DET
ajbmeb-2854	217	15	rise	rise	NOUN
ajbmeb-2854	217	16	in	in	ADP
ajbmeb-2854	217	17	the	the	DET
ajbmeb-2854	217	18	other	other	ADJ
ajbmeb-2854	217	19	and	and	CCONJ
ajbmeb-2854	217	20	vice	vice	ADV
ajbmeb-2854	217	21	versa	versa	ADV
ajbmeb-2854	217	22	.	.	PUNCT
ajbmeb-2854	218	1	however	however	ADV
ajbmeb-2854	218	2	,	,	PUNCT
ajbmeb-2854	218	3	corrections	correction	NOUN
ajbmeb-2854	218	4	are	be	AUX
ajbmeb-2854	218	5	not	not	PART
ajbmeb-2854	218	6	best	well	ADV
ajbmeb-2854	218	7	suited	suit	VERB
ajbmeb-2854	218	8	for	for	ADP
ajbmeb-2854	218	9	functional	functional	ADJ
ajbmeb-2854	218	10	dependence	dependence	NOUN
ajbmeb-2854	218	11	causality	causality	NOUN
ajbmeb-2854	218	12	and	and	CCONJ
ajbmeb-2854	218	13	hence	hence	ADV
ajbmeb-2854	218	14	the	the	DET
ajbmeb-2854	218	15	study	study	NOUN
ajbmeb-2854	218	16	proceeds	proceed	VERB
ajbmeb-2854	218	17	to	to	PART
ajbmeb-2854	218	18	perform	perform	VERB
ajbmeb-2854	218	19	the	the	DET
ajbmeb-2854	218	20	panel	panel	NOUN
ajbmeb-2854	218	21	regression	regression	VERB
ajbmeb-2854	218	22	analysis	analysis	NOUN
ajbmeb-2854	218	23	.	.	PUNCT
ajbmeb-2854	219	1	multicolinearity	multicolinearity	NOUN
ajbmeb-2854	219	2	test	test	NOUN
ajbmeb-2854	219	3	the	the	DET
ajbmeb-2854	219	4	test	test	NOUN
ajbmeb-2854	219	5	is	be	AUX
ajbmeb-2854	219	6	carried	carry	VERB
ajbmeb-2854	219	7	out	out	ADP
ajbmeb-2854	219	8	for	for	ADP
ajbmeb-2854	219	9	multicollinearity	multicollinearity	NOUN
ajbmeb-2854	219	10	amongst	amongst	ADP
ajbmeb-2854	219	11	the	the	DET
ajbmeb-2854	219	12	variable	variable	NOUN
ajbmeb-2854	219	13	of	of	ADP
ajbmeb-2854	219	14	study	study	NOUN
ajbmeb-2854	219	15	variance	variance	NOUN
ajbmeb-2854	219	16	inflation	inflation	NOUN
ajbmeb-2854	219	17	test	test	NOUN
ajbmeb-2854	219	18	is	be	AUX
ajbmeb-2854	219	19	conducted	conduct	VERB
ajbmeb-2854	219	20	for	for	ADP
ajbmeb-2854	219	21	this	this	DET
ajbmeb-2854	219	22	purpose	purpose	NOUN
ajbmeb-2854	219	23	and	and	CCONJ
ajbmeb-2854	219	24	result	result	NOUN
ajbmeb-2854	219	25	is	be	AUX
ajbmeb-2854	219	26	presented	present	VERB
ajbmeb-2854	219	27	on	on	ADP
ajbmeb-2854	219	28	table	table	NOUN
ajbmeb-2854	219	29	4.4	4.4	NUM
ajbmeb-2854	219	30	below	below	ADV
ajbmeb-2854	219	31	:	:	PUNCT
ajbmeb-2854	219	32	table	table	NOUN
ajbmeb-2854	219	33	3	3	NUM
ajbmeb-2854	219	34	.	.	X
ajbmeb-2854	219	35	variance	variance	NOUN
ajbmeb-2854	219	36	inflation	inflation	NOUN
ajbmeb-2854	219	37	factors	factor	VERB
ajbmeb-2854	219	38	variable	variable	ADJ
ajbmeb-2854	219	39	variance	variance	NOUN
ajbmeb-2854	219	40	vif	vif	PROPN
ajbmeb-2854	219	41	mcp	mcp	PROPN
ajbmeb-2854	219	42	2.49e-27	2.49e-27	NUM
ajbmeb-2854	219	43	2.189849	2.189849	NUM
ajbmeb-2854	219	44	divpay	divpay	NOUN
ajbmeb-2854	219	45	1.90e-06	1.90e-06	NUM
ajbmeb-2854	219	46	1.0564	1.0564	NUM
ajbmeb-2854	219	47	liq	liq	NOUN
ajbmeb-2854	219	48	2.19e-05	2.19e-05	NUM
ajbmeb-2854	219	49	1.056286	1.056286	NUM
ajbmeb-2854	219	50	infl	infl	PROPN
ajbmeb-2854	219	51	4.63e-05	4.63e-05	NUM
ajbmeb-2854	219	52	1.043943	1.043943	NUM
ajbmeb-2854	219	53	multicollinearity	multicollinearity	NOUN
ajbmeb-2854	219	54	among	among	ADP
ajbmeb-2854	219	55	the	the	DET
ajbmeb-2854	219	56	independent	independent	ADJ
ajbmeb-2854	219	57	variables	variable	NOUN
ajbmeb-2854	219	58	implies	imply	VERB
ajbmeb-2854	219	59	that	that	SCONJ
ajbmeb-2854	219	60	they	they	PRON
ajbmeb-2854	219	61	are	be	AUX
ajbmeb-2854	219	62	perfectly	perfectly	ADV
ajbmeb-2854	219	63	correlated	correlate	VERB
ajbmeb-2854	219	64	.	.	PUNCT
ajbmeb-2854	220	1	if	if	SCONJ
ajbmeb-2854	220	2	there	there	PRON
ajbmeb-2854	220	3	exists	exist	VERB
ajbmeb-2854	220	4	perfect	perfect	ADJ
ajbmeb-2854	220	5	correlation	correlation	NOUN
ajbmeb-2854	220	6	between	between	ADP
ajbmeb-2854	220	7	the	the	DET
ajbmeb-2854	220	8	independent	independent	ADJ
ajbmeb-2854	220	9	variables	variable	NOUN
ajbmeb-2854	220	10	,	,	PUNCT
ajbmeb-2854	220	11	the	the	DET
ajbmeb-2854	220	12	parameter	parameter	NOUN
ajbmeb-2854	220	13	coefficients	coefficient	NOUN
ajbmeb-2854	220	14	will	will	AUX
ajbmeb-2854	220	15	be	be	AUX
ajbmeb-2854	220	16	indeterminate	indeterminate	ADJ
ajbmeb-2854	220	17	.	.	PUNCT
ajbmeb-2854	221	1	in	in	ADP
ajbmeb-2854	221	2	the	the	DET
ajbmeb-2854	221	3	presence	presence	NOUN
ajbmeb-2854	221	4	of	of	ADP
ajbmeb-2854	221	5	multicollinearity	multicollinearity	NOUN
ajbmeb-2854	221	6	,	,	PUNCT
ajbmeb-2854	221	7	there	there	PRON
ajbmeb-2854	221	8	will	will	AUX
ajbmeb-2854	221	9	be	be	AUX
ajbmeb-2854	221	10	large	large	ADJ
ajbmeb-2854	221	11	standard	standard	ADJ
ajbmeb-2854	221	12	errors	error	NOUN
ajbmeb-2854	221	13	of	of	ADP
ajbmeb-2854	221	14	the	the	DET
ajbmeb-2854	221	15	estimated	estimate	VERB
ajbmeb-2854	221	16	coefficients	coefficient	NOUN
ajbmeb-2854	221	17	.	.	PUNCT
ajbmeb-2854	222	1	in	in	ADP
ajbmeb-2854	222	2	this	this	DET
ajbmeb-2854	222	3	study	study	NOUN
ajbmeb-2854	222	4	,	,	PUNCT
ajbmeb-2854	222	5	the	the	DET
ajbmeb-2854	222	6	variance	variance	NOUN
ajbmeb-2854	222	7	inflation	inflation	NOUN
ajbmeb-2854	222	8	factor	factor	NOUN
ajbmeb-2854	222	9	test	test	NOUN
ajbmeb-2854	222	10	is	be	AUX
ajbmeb-2854	222	11	constructed	construct	VERB
ajbmeb-2854	222	12	to	to	PART
ajbmeb-2854	222	13	test	test	VERB
ajbmeb-2854	222	14	for	for	ADP
ajbmeb-2854	222	15	multicollinearity	multicollinearity	NOUN
ajbmeb-2854	222	16	.	.	PUNCT
ajbmeb-2854	223	1	the	the	DET
ajbmeb-2854	223	2	rule	rule	NOUN
ajbmeb-2854	223	3	for	for	ADP
ajbmeb-2854	223	4	the	the	DET
ajbmeb-2854	223	5	vif	vif	NOUN
ajbmeb-2854	223	6	is	be	AUX
ajbmeb-2854	223	7	that	that	SCONJ
ajbmeb-2854	223	8	the	the	DET
ajbmeb-2854	223	9	values	value	NOUN
ajbmeb-2854	223	10	less	less	ADJ
ajbmeb-2854	223	11	than	than	ADP
ajbmeb-2854	223	12	10	10	NUM
ajbmeb-2854	223	13	indicates	indicate	VERB
ajbmeb-2854	223	14	the	the	DET
ajbmeb-2854	223	15	absence	absence	NOUN
ajbmeb-2854	223	16	of	of	ADP
ajbmeb-2854	223	17	serious	serious	ADJ
ajbmeb-2854	223	18	collinearity	collinearity	NOUN
ajbmeb-2854	223	19	.	.	PUNCT
ajbmeb-2854	224	1	as	as	SCONJ
ajbmeb-2854	224	2	shown	show	VERB
ajbmeb-2854	224	3	,	,	PUNCT
ajbmeb-2854	224	4	the	the	DET
ajbmeb-2854	224	5	vif	vif	NOUN
ajbmeb-2854	224	6	values	value	NOUN
ajbmeb-2854	224	7	of	of	ADP
ajbmeb-2854	224	8	all	all	DET
ajbmeb-2854	224	9	the	the	DET
ajbmeb-2854	224	10	variables	variable	NOUN
ajbmeb-2854	224	11	are	be	AUX
ajbmeb-2854	224	12	all	all	ADV
ajbmeb-2854	224	13	less	less	ADJ
ajbmeb-2854	224	14	than	than	ADP
ajbmeb-2854	224	15	10	10	NUM
ajbmeb-2854	224	16	and	and	CCONJ
ajbmeb-2854	224	17	hence	hence	ADV
ajbmeb-2854	224	18	there	there	PRON
ajbmeb-2854	224	19	is	be	VERB
ajbmeb-2854	224	20	no	no	DET
ajbmeb-2854	224	21	threat	threat	NOUN
ajbmeb-2854	224	22	of	of	ADP
ajbmeb-2854	224	23	multicollinearity	multicollinearity	NOUN
ajbmeb-2854	224	24	amongst	amongst	ADP
ajbmeb-2854	224	25	the	the	DET
ajbmeb-2854	224	26	variables	variable	NOUN
ajbmeb-2854	224	27	.	.	PUNCT
ajbmeb-2854	225	1	dividend	dividend	NOUN
ajbmeb-2854	225	2	.	.	PUNCT
ajbmeb-2854	226	1	market	market	NOUN
ajbmeb-2854	226	2	capitalization	capitalization	NOUN
ajbmeb-2854	226	3	and	and	CCONJ
ajbmeb-2854	226	4	enterprise	enterprise	NOUN
ajbmeb-2854	226	5	value	value	NOUN
ajbmeb-2854	226	6	the	the	DET
ajbmeb-2854	226	7	econometric	econometric	ADJ
ajbmeb-2854	226	8	relationship	relationship	NOUN
ajbmeb-2854	226	9	for	for	ADP
ajbmeb-2854	226	10	determinants	determinant	NOUN
ajbmeb-2854	226	11	of	of	ADP
ajbmeb-2854	226	12	firm	firm	ADJ
ajbmeb-2854	226	13	value	value	NOUN
ajbmeb-2854	226	14	and	and	CCONJ
ajbmeb-2854	226	15	enterprise	enterprise	NOUN
ajbmeb-2854	226	16	value	value	NOUN
ajbmeb-2854	226	17	is	be	AUX
ajbmeb-2854	226	18	stated	state	VERB
ajbmeb-2854	226	19	as	as	SCONJ
ajbmeb-2854	226	20	follows	follow	VERB
ajbmeb-2854	226	21	:	:	PUNCT
ajbmeb-2854	227	1	enva	enva	PROPN
ajbmeb-2854	227	2	=	=	SYM
ajbmeb-2854	227	3	w0	w0	PROPN
ajbmeb-2854	227	4	+	+	CCONJ
ajbmeb-2854	227	5	w1mcp+	w1mcp+	CCONJ
ajbmeb-2854	227	6	w2div+	w2div+	PROPN
ajbmeb-2854	227	7	w3inf+	w3inf+	PROPN
ajbmeb-2854	228	1	u3,t	u3,t	PROPN
ajbmeb-2854	228	2	the	the	DET
ajbmeb-2854	228	3	regression	regression	NOUN
ajbmeb-2854	228	4	result	result	VERB
ajbmeb-2854	228	5	for	for	ADP
ajbmeb-2854	228	6	this	this	DET
ajbmeb-2854	228	7	model	model	NOUN
ajbmeb-2854	228	8	is	be	AUX
ajbmeb-2854	228	9	stated	state	VERB
ajbmeb-2854	228	10	on	on	ADP
ajbmeb-2854	228	11	table	table	NOUN
ajbmeb-2854	228	12	4.4	4.4	NUM
ajbmeb-2854	228	13	below	below	ADV
ajbmeb-2854	228	14	:	:	PUNCT
ajbmeb-2854	228	15	table	table	NOUN
ajbmeb-2854	228	16	4	4	NUM
ajbmeb-2854	228	17	.	.	X
ajbmeb-2854	228	18	dividend	dividend	NOUN
ajbmeb-2854	228	19	,	,	PUNCT
ajbmeb-2854	228	20	market	market	NOUN
ajbmeb-2854	228	21	capitalization	capitalization	NOUN
ajbmeb-2854	228	22	and	and	CCONJ
ajbmeb-2854	228	23	enterprise	enterprise	NOUN
ajbmeb-2854	228	24	value	value	NOUN
ajbmeb-2854	228	25	variable	variable	ADJ
ajbmeb-2854	228	26	aprori	aprori	PROPN
ajbmeb-2854	228	27	sign	sign	PROPN
ajbmeb-2854	228	28	fe	fe	PROPN
ajbmeb-2854	228	29	model	model	PROPN
ajbmeb-2854	228	30	re	re	PROPN
ajbmeb-2854	228	31	model	model	PROPN
ajbmeb-2854	228	32	c	c	PROPN
ajbmeb-2854	229	1	+	+	PROPN
ajbmeb-2854	229	2	0.9820	0.9820	NUM
ajbmeb-2854	229	3	(	(	PUNCT
ajbmeb-2854	229	4	0.4590	0.4590	NUM
ajbmeb-2854	229	5	)	)	PUNCT
ajbmeb-2854	230	1	[	[	X
ajbmeb-2854	230	2	0.0358	0.0358	NUM
ajbmeb-2854	230	3	]	]	X
ajbmeb-2854	230	4	1.2202	1.2202	NUM
ajbmeb-2854	230	5	(	(	PUNCT
ajbmeb-2854	230	6	0.2746	0.2746	NUM
ajbmeb-2854	230	7	)	)	PUNCT
ajbmeb-2854	230	8	{	{	PUNCT
ajbmeb-2854	230	9	0.000	0.000	NUM
ajbmeb-2854	230	10	}	}	PUNCT
ajbmeb-2854	230	11	mcp	mcp	PROPN
ajbmeb-2854	230	12	+	+	PROPN
ajbmeb-2854	230	13	-6.63e+14	-6.63e+14	PROPN
ajbmeb-2854	230	14	(	(	PUNCT
ajbmeb-2854	230	15	4.63e-14	4.63e-14	NUM
ajbmeb-2854	230	16	)	)	PUNCT
ajbmeb-2854	230	17	{	{	PUNCT
ajbmeb-2854	230	18	0.1566	0.1566	NUM
ajbmeb-2854	230	19	}	}	PUNCT
ajbmeb-2854	230	20	4.16e-14	4.16e-14	NUM
ajbmeb-2854	230	21	(	(	PUNCT
ajbmeb-2854	230	22	4.74e-14	4.74e-14	NUM
ajbmeb-2854	230	23	)	)	PUNCT
ajbmeb-2854	230	24	{	{	PUNCT
ajbmeb-2854	230	25	0.3827	0.3827	NUM
ajbmeb-2854	230	26	}	}	PUNCT
ajbmeb-2854	230	27	divpay	divpay	NOUN
ajbmeb-2854	230	28	-0.0009	-0.0009	PROPN
ajbmeb-2854	230	29	(	(	PUNCT
ajbmeb-2854	230	30	0.0002	0.0002	NUM
ajbmeb-2854	230	31	)	)	PUNCT
ajbmeb-2854	230	32	{	{	PUNCT
ajbmeb-2854	230	33	0.000	0.000	NUM
ajbmeb-2854	230	34	}	}	PUNCT
ajbmeb-2854	230	35	-0.00102	-0.00102	NOUN
ajbmeb-2854	230	36	(	(	PUNCT
ajbmeb-2854	230	37	0.0013	0.0013	NUM
ajbmeb-2854	230	38	)	)	PUNCT
ajbmeb-2854	230	39	{	{	PUNCT
ajbmeb-2854	230	40	0.4373	0.4373	NUM
ajbmeb-2854	230	41	}	}	PUNCT
ajbmeb-2854	230	42	infl	infl	PROPN
ajbmeb-2854	230	43	-0.00209	-0.00209	NOUN
ajbmeb-2854	230	44	(	(	PUNCT
ajbmeb-2854	230	45	0.0012	0.0012	NUM
ajbmeb-2854	230	46	)	)	PUNCT
ajbmeb-2854	230	47	{	{	PUNCT
ajbmeb-2854	230	48	0.0972	0.0972	NUM
ajbmeb-2854	230	49	}	}	PUNCT
ajbmeb-2854	230	50	-0.00617	-0.00617	NOUN
ajbmeb-2854	230	51	(	(	PUNCT
ajbmeb-2854	230	52	0.0064	0.0064	NUM
ajbmeb-2854	230	53	)	)	PUNCT
ajbmeb-2854	230	54	{	{	PUNCT
ajbmeb-2854	230	55	0.3245	0.3245	NUM
ajbmeb-2854	230	56	}	}	PUNCT
ajbmeb-2854	230	57	model	model	NOUN
ajbmeb-2854	230	58	parameters	parameter	NOUN
ajbmeb-2854	230	59	american	american	PROPN
ajbmeb-2854	230	60	journal	journal	PROPN
ajbmeb-2854	230	61	of	of	ADP
ajbmeb-2854	230	62	business	business	NOUN
ajbmeb-2854	230	63	management	management	NOUN
ajbmeb-2854	230	64	,	,	PUNCT
ajbmeb-2854	230	65	economics	economic	NOUN
ajbmeb-2854	230	66	and	and	CCONJ
ajbmeb-2854	230	67	banking	banking	NOUN
ajbmeb-2854	230	68	volume	volume	NOUN
ajbmeb-2854	230	69	35	35	NUM
ajbmeb-2854	230	70	april	april	PROPN
ajbmeb-2854	230	71	2025	2025	NUM
ajbmeb-2854	230	72	p	p	NOUN
ajbmeb-2854	230	73	a	a	DET
ajbmeb-2854	230	74	g	g	NOUN
ajbmeb-2854	230	75	e	e	NOUN
ajbmeb-2854	230	76	|	|	ADV
ajbmeb-2854	230	77	55	55	NUM
ajbmeb-2854	230	78	www.americanjournal.org	www.americanjournal.org	PROPN
ajbmeb-2854	230	79	r2	r2	NOUN
ajbmeb-2854	230	80	0.9834	0.9834	NUM
ajbmeb-2854	230	81	0.9290	0.9290	NUM
ajbmeb-2854	230	82	adjusted	adjust	VERB
ajbmeb-2854	230	83	r2	r2	PROPN
ajbmeb-2854	230	84	0.9766	0.9766	NUM
ajbmeb-2854	230	85	09214	09214	NUM
ajbmeb-2854	230	86	f	f	X
ajbmeb-2854	230	87	-	-	PUNCT
ajbmeb-2854	230	88	statistic	statistic	VERB
ajbmeb-2854	230	89	144.582	144.582	NUM
ajbmeb-2854	230	90	121.775	121.775	NUM
ajbmeb-2854	230	91	prob(f	prob(f	NOUN
ajbmeb-2854	230	92	-	-	PUNCT
ajbmeb-2854	230	93	stat	stat	NOUN
ajbmeb-2854	230	94	)	)	PUNCT
ajbmeb-2854	230	95	0.000	0.000	NUM
ajbmeb-2854	230	96	0.00	0.00	NUM
ajbmeb-2854	230	97	durbin	durbin	ADJ
ajbmeb-2854	230	98	-	-	PUNCT
ajbmeb-2854	230	99	watson	watson	NOUN
ajbmeb-2854	230	100	1.99	1.99	NUM
ajbmeb-2854	230	101	0.9349	0.9349	NUM
ajbmeb-2854	230	102	model	model	NOUN
ajbmeb-2854	230	103	diagnostics	diagnostic	NOUN
ajbmeb-2854	230	104	hausman	hausman	NOUN
ajbmeb-2854	230	105	0.000	0.000	NUM
ajbmeb-2854	230	106	ramsey	ramsey	NOUN
ajbmeb-2854	230	107	reset	reset	NOUN
ajbmeb-2854	230	108	test	test	NOUN
ajbmeb-2854	230	109	0.410	0.410	NUM
ajbmeb-2854	230	110	period	period	NOUN
ajbmeb-2854	230	111	hetero.test	hetero.test	NUM
ajbmeb-2854	230	112	0.112	0.112	NUM
ajbmeb-2854	230	113	cross	cross	ADJ
ajbmeb-2854	230	114	-	-	NOUN
ajbmeb-2854	230	115	section	section	NOUN
ajbmeb-2854	230	116	hetero.test	hetero.test	PROPN
ajbmeb-2854	230	117	0.709	0.709	NUM
ajbmeb-2854	230	118	pesaran	pesaran	ADJ
ajbmeb-2854	230	119	cd	cd	PROPN
ajbmeb-2854	230	120	for	for	ADP
ajbmeb-2854	230	121	serial	serial	ADJ
ajbmeb-2854	230	122	correlation	correlation	NOUN
ajbmeb-2854	230	123	0.483	0.483	NUM
ajbmeb-2854	230	124	table	table	NOUN
ajbmeb-2854	230	125	4	4	NUM
ajbmeb-2854	230	126	show	show	VERB
ajbmeb-2854	230	127	the	the	DET
ajbmeb-2854	230	128	regression	regression	NOUN
ajbmeb-2854	230	129	results	result	NOUN
ajbmeb-2854	230	130	and	and	CCONJ
ajbmeb-2854	230	131	white	white	ADJ
ajbmeb-2854	230	132	adjusted	adjust	VERB
ajbmeb-2854	230	133	standard	standard	ADJ
ajbmeb-2854	230	134	errors	error	NOUN
ajbmeb-2854	230	135	was	be	AUX
ajbmeb-2854	230	136	employed	employ	VERB
ajbmeb-2854	230	137	to	to	PART
ajbmeb-2854	230	138	control	control	VERB
ajbmeb-2854	230	139	for	for	ADP
ajbmeb-2854	230	140	potential	potential	ADJ
ajbmeb-2854	230	141	heteroskedasticity	heteroskedasticity	NOUN
ajbmeb-2854	230	142	in	in	ADP
ajbmeb-2854	230	143	the	the	DET
ajbmeb-2854	230	144	estimation	estimation	NOUN
ajbmeb-2854	230	145	and	and	CCONJ
ajbmeb-2854	230	146	hence	hence	ADV
ajbmeb-2854	230	147	the	the	DET
ajbmeb-2854	230	148	estimation	estimation	NOUN
ajbmeb-2854	230	149	results	result	NOUN
ajbmeb-2854	230	150	are	be	AUX
ajbmeb-2854	230	151	free	free	ADJ
ajbmeb-2854	230	152	from	from	ADP
ajbmeb-2854	230	153	heteroskedasticity	heteroskedasticity	NOUN
ajbmeb-2854	230	154	while	while	SCONJ
ajbmeb-2854	230	155	the	the	DET
ajbmeb-2854	230	156	cochrane	cochrane	NOUN
ajbmeb-2854	230	157	orcutt	orcutt	NOUN
ajbmeb-2854	230	158	autoregressive	autoregressive	ADJ
ajbmeb-2854	230	159	(	(	PUNCT
ajbmeb-2854	230	160	ar	ar	NOUN
ajbmeb-2854	230	161	)	)	PUNCT
ajbmeb-2854	230	162	procedure	procedure	NOUN
ajbmeb-2854	230	163	was	be	AUX
ajbmeb-2854	230	164	employed	employ	VERB
ajbmeb-2854	230	165	to	to	PART
ajbmeb-2854	230	166	correct	correct	VERB
ajbmeb-2854	230	167	for	for	ADP
ajbmeb-2854	230	168	serial	serial	ADJ
ajbmeb-2854	230	169	correlations	correlation	NOUN
ajbmeb-2854	230	170	where	where	SCONJ
ajbmeb-2854	230	171	it	it	PRON
ajbmeb-2854	230	172	is	be	AUX
ajbmeb-2854	230	173	detected	detect	VERB
ajbmeb-2854	230	174	.	.	PUNCT
ajbmeb-2854	231	1	the	the	DET
ajbmeb-2854	231	2	hausman	hausman	PROPN
ajbmeb-2854	231	3	test	test	NOUN
ajbmeb-2854	231	4	statistic	statistic	NOUN
ajbmeb-2854	231	5	with	with	ADP
ajbmeb-2854	231	6	p	p	NOUN
ajbmeb-2854	231	7	-	-	PUNCT
ajbmeb-2854	231	8	value	value	NOUN
ajbmeb-2854	231	9	=	=	NOUN
ajbmeb-2854	231	10	0.00	0.00	NUM
ajbmeb-2854	231	11	,	,	PUNCT
ajbmeb-2854	231	12	indicates	indicate	VERB
ajbmeb-2854	231	13	that	that	SCONJ
ajbmeb-2854	231	14	the	the	DET
ajbmeb-2854	231	15	fe	fe	NOUN
ajbmeb-2854	231	16	is	be	AUX
ajbmeb-2854	231	17	the	the	DET
ajbmeb-2854	231	18	preferred	preferred	ADJ
ajbmeb-2854	231	19	model	model	NOUN
ajbmeb-2854	231	20	to	to	ADP
ajbmeb-2854	231	21	the	the	DET
ajbmeb-2854	231	22	random	random	ADJ
ajbmeb-2854	231	23	effects	effect	NOUN
ajbmeb-2854	231	24	indicating	indicate	VERB
ajbmeb-2854	231	25	the	the	DET
ajbmeb-2854	231	26	presence	presence	NOUN
ajbmeb-2854	231	27	of	of	ADP
ajbmeb-2854	231	28	correlations	correlation	NOUN
ajbmeb-2854	231	29	between	between	ADP
ajbmeb-2854	231	30	the	the	DET
ajbmeb-2854	231	31	errors	error	NOUN
ajbmeb-2854	231	32	and	and	CCONJ
ajbmeb-2854	231	33	the	the	DET
ajbmeb-2854	231	34	explanatory	explanatory	ADJ
ajbmeb-2854	231	35	variables	variable	NOUN
ajbmeb-2854	231	36	which	which	PRON
ajbmeb-2854	231	37	is	be	AUX
ajbmeb-2854	231	38	the	the	DET
ajbmeb-2854	231	39	key	key	ADJ
ajbmeb-2854	231	40	assumption	assumption	NOUN
ajbmeb-2854	231	41	of	of	ADP
ajbmeb-2854	231	42	the	the	DET
ajbmeb-2854	231	43	fixed	fix	VERB
ajbmeb-2854	231	44	effects	effect	NOUN
ajbmeb-2854	231	45	(	(	PUNCT
ajbmeb-2854	231	46	hausman	hausman	PROPN
ajbmeb-2854	231	47	,	,	PUNCT
ajbmeb-2854	231	48	1998	1998	NUM
ajbmeb-2854	231	49	)	)	PUNCT
ajbmeb-2854	231	50	.	.	PUNCT
ajbmeb-2854	232	1	both	both	PRON
ajbmeb-2854	232	2	panel	panel	NOUN
ajbmeb-2854	232	3	period	period	NOUN
ajbmeb-2854	232	4	heteroskedasticity	heteroskedasticity	NOUN
ajbmeb-2854	232	5	and	and	CCONJ
ajbmeb-2854	232	6	cross	cross	ADJ
ajbmeb-2854	232	7	-	-	ADJ
ajbmeb-2854	232	8	sectional	sectional	ADJ
ajbmeb-2854	232	9	heteroskedasticity	heteroskedasticity	NOUN
ajbmeb-2854	232	10	test	test	NOUN
ajbmeb-2854	232	11	confirm	confirm	VERB
ajbmeb-2854	232	12	that	that	SCONJ
ajbmeb-2854	232	13	the	the	DET
ajbmeb-2854	232	14	estimations	estimation	NOUN
ajbmeb-2854	232	15	were	be	AUX
ajbmeb-2854	232	16	found	find	VERB
ajbmeb-2854	232	17	to	to	PART
ajbmeb-2854	232	18	be	be	AUX
ajbmeb-2854	232	19	free	free	ADJ
ajbmeb-2854	232	20	from	from	ADP
ajbmeb-2854	232	21	such	such	ADJ
ajbmeb-2854	232	22	.	.	PUNCT
ajbmeb-2854	233	1	the	the	DET
ajbmeb-2854	233	2	peseran	peseran	NOUN
ajbmeb-2854	233	3	cross	cross	ADJ
ajbmeb-2854	233	4	-	-	ADJ
ajbmeb-2854	233	5	dependence	dependence	ADJ
ajbmeb-2854	233	6	test	test	NOUN
ajbmeb-2854	233	7	was	be	AUX
ajbmeb-2854	233	8	employed	employ	VERB
ajbmeb-2854	233	9	to	to	PART
ajbmeb-2854	233	10	confirm	confirm	VERB
ajbmeb-2854	233	11	the	the	DET
ajbmeb-2854	233	12	threat	threat	NOUN
ajbmeb-2854	233	13	of	of	ADP
ajbmeb-2854	233	14	the	the	DET
ajbmeb-2854	233	15	serial	serial	ADJ
ajbmeb-2854	233	16	correlation	correlation	NOUN
ajbmeb-2854	233	17	in	in	ADP
ajbmeb-2854	233	18	the	the	DET
ajbmeb-2854	233	19	errors	error	NOUN
ajbmeb-2854	233	20	and	and	CCONJ
ajbmeb-2854	233	21	the	the	DET
ajbmeb-2854	233	22	statistic	statistic	NOUN
ajbmeb-2854	233	23	reveals	reveal	VERB
ajbmeb-2854	233	24	the	the	DET
ajbmeb-2854	233	25	absence	absence	NOUN
ajbmeb-2854	233	26	of	of	ADP
ajbmeb-2854	233	27	crosssection	crosssection	NOUN
ajbmeb-2854	233	28	dependence	dependence	NOUN
ajbmeb-2854	233	29	in	in	ADP
ajbmeb-2854	233	30	the	the	DET
ajbmeb-2854	233	31	residuals	residual	NOUN
ajbmeb-2854	233	32	.	.	PUNCT
ajbmeb-2854	234	1	the	the	DET
ajbmeb-2854	234	2	ramsey	ramsey	PROPN
ajbmeb-2854	234	3	reset	reset	PROPN
ajbmeb-2854	234	4	test	test	NOUN
ajbmeb-2854	234	5	confirms	confirm	VERB
ajbmeb-2854	234	6	that	that	SCONJ
ajbmeb-2854	234	7	the	the	DET
ajbmeb-2854	234	8	model	model	NOUN
ajbmeb-2854	234	9	is	be	AUX
ajbmeb-2854	234	10	correctly	correctly	ADV
ajbmeb-2854	234	11	specified	specify	VERB
ajbmeb-2854	234	12	.	.	PUNCT
ajbmeb-2854	235	1	the	the	DET
ajbmeb-2854	235	2	r2	r2	PROPN
ajbmeb-2854	235	3	is	be	AUX
ajbmeb-2854	235	4	98.34	98.34	NUM
ajbmeb-2854	235	5	%	%	NOUN
ajbmeb-2854	235	6	with	with	ADP
ajbmeb-2854	235	7	and	and	CCONJ
ajbmeb-2854	235	8	adjusted	adjust	VERB
ajbmeb-2854	235	9	value	value	NOUN
ajbmeb-2854	235	10	of	of	ADP
ajbmeb-2854	235	11	97.66	97.66	NUM
ajbmeb-2854	235	12	%	%	NOUN
ajbmeb-2854	235	13	.	.	PUNCT
ajbmeb-2854	236	1	the	the	DET
ajbmeb-2854	236	2	f	f	NOUN
ajbmeb-2854	236	3	-	-	PUNCT
ajbmeb-2854	236	4	stat	stat	NOUN
ajbmeb-2854	236	5	of	of	ADP
ajbmeb-2854	236	6	144.582	144.582	NUM
ajbmeb-2854	236	7	(	(	PUNCT
ajbmeb-2854	236	8	p	p	NOUN
ajbmeb-2854	236	9	-	-	PUNCT
ajbmeb-2854	236	10	value	value	NOUN
ajbmeb-2854	236	11	=	=	NOUN
ajbmeb-2854	236	12	0.00	0.00	NUM
ajbmeb-2854	236	13	)	)	PUNCT
ajbmeb-2854	236	14	and	and	CCONJ
ajbmeb-2854	236	15	significant	significant	ADJ
ajbmeb-2854	236	16	at	at	ADP
ajbmeb-2854	236	17	5	5	NUM
ajbmeb-2854	236	18	%	%	NOUN
ajbmeb-2854	236	19	.	.	PUNCT
ajbmeb-2854	237	1	the	the	DET
ajbmeb-2854	237	2	durbin	durbin	PROPN
ajbmeb-2854	237	3	watson	watson	PROPN
ajbmeb-2854	237	4	value	value	NOUN
ajbmeb-2854	237	5	of	of	ADP
ajbmeb-2854	237	6	1.99	1.99	NUM
ajbmeb-2854	237	7	suggest	suggest	VERB
ajbmeb-2854	237	8	that	that	SCONJ
ajbmeb-2854	237	9	the	the	DET
ajbmeb-2854	237	10	presence	presence	NOUN
ajbmeb-2854	237	11	of	of	ADP
ajbmeb-2854	237	12	serial	serial	ADJ
ajbmeb-2854	237	13	correlation	correlation	NOUN
ajbmeb-2854	237	14	between	between	ADP
ajbmeb-2854	237	15	the	the	DET
ajbmeb-2854	237	16	errors	error	NOUN
ajbmeb-2854	237	17	is	be	AUX
ajbmeb-2854	237	18	unlikely	unlikely	ADJ
ajbmeb-2854	237	19	in	in	ADP
ajbmeb-2854	237	20	the	the	DET
ajbmeb-2854	237	21	model	model	NOUN
ajbmeb-2854	237	22	.	.	PUNCT
ajbmeb-2854	238	1	mcp	mcp	PROPN
ajbmeb-2854	238	2	has	have	VERB
ajbmeb-2854	238	3	a	a	DET
ajbmeb-2854	238	4	negative	negative	ADJ
ajbmeb-2854	238	5	effect	effect	NOUN
ajbmeb-2854	238	6	(	(	PUNCT
ajbmeb-2854	238	7	850.4034	850.4034	NUM
ajbmeb-2854	238	8	)	)	PUNCT
ajbmeb-2854	238	9	though	though	SCONJ
ajbmeb-2854	238	10	not	not	PART
ajbmeb-2854	238	11	significant	significant	ADJ
ajbmeb-2854	238	12	at	at	ADP
ajbmeb-2854	238	13	5	5	NUM
ajbmeb-2854	238	14	%	%	NOUN
ajbmeb-2854	238	15	(	(	PUNCT
ajbmeb-2854	238	16	p=0.01566	p=0.01566	PROPN
ajbmeb-2854	238	17	)	)	PUNCT
ajbmeb-2854	238	18	.	.	PUNCT
ajbmeb-2854	239	1	the	the	DET
ajbmeb-2854	239	2	effect	effect	NOUN
ajbmeb-2854	239	3	of	of	ADP
ajbmeb-2854	239	4	divpay	divpay	NOUN
ajbmeb-2854	239	5	is	be	AUX
ajbmeb-2854	239	6	negative	negative	ADJ
ajbmeb-2854	239	7	(	(	PUNCT
ajbmeb-2854	239	8	-0.0009	-0.0009	PROPN
ajbmeb-2854	239	9	)	)	PUNCT
ajbmeb-2854	239	10	and	and	CCONJ
ajbmeb-2854	239	11	statistically	statistically	ADV
ajbmeb-2854	239	12	significant	significant	ADJ
ajbmeb-2854	239	13	(	(	PUNCT
ajbmeb-2854	239	14	p=0.000	p=0.000	NOUN
ajbmeb-2854	239	15	)	)	PUNCT
ajbmeb-2854	239	16	at	at	ADP
ajbmeb-2854	239	17	5	5	NUM
ajbmeb-2854	239	18	.	.	PUNCT
ajbmeb-2854	240	1	the	the	DET
ajbmeb-2854	240	2	effect	effect	NOUN
ajbmeb-2854	240	3	of	of	ADP
ajbmeb-2854	240	4	infl	infl	PROPN
ajbmeb-2854	240	5	is	be	AUX
ajbmeb-2854	240	6	negative	negative	ADJ
ajbmeb-2854	240	7	(	(	PUNCT
ajbmeb-2854	240	8	-0.00209	-0.00209	NOUN
ajbmeb-2854	240	9	)	)	PUNCT
ajbmeb-2854	240	10	and	and	CCONJ
ajbmeb-2854	240	11	statistically	statistically	ADV
ajbmeb-2854	240	12	significant	significant	ADJ
ajbmeb-2854	240	13	(	(	PUNCT
ajbmeb-2854	240	14	p=0.0972	p=0.0972	PROPN
ajbmeb-2854	240	15	)	)	PUNCT
ajbmeb-2854	240	16	at	at	ADP
ajbmeb-2854	240	17	10	10	NUM
ajbmeb-2854	240	18	%	%	NOUN
ajbmeb-2854	240	19	.	.	PUNCT
ajbmeb-2854	241	1	dividend	dividend	NOUN
ajbmeb-2854	241	2	,	,	PUNCT
ajbmeb-2854	241	3	market	market	NOUN
ajbmeb-2854	241	4	capitalization	capitalization	NOUN
ajbmeb-2854	241	5	and	and	CCONJ
ajbmeb-2854	241	6	tobin	tobin	PROPN
ajbmeb-2854	241	7	q	q	PROPN
ajbmeb-2854	242	1	the	the	DET
ajbmeb-2854	242	2	econometric	econometric	ADJ
ajbmeb-2854	242	3	relationship	relationship	NOUN
ajbmeb-2854	242	4	for	for	ADP
ajbmeb-2854	242	5	dividend	dividend	NOUN
ajbmeb-2854	242	6	,	,	PUNCT
ajbmeb-2854	242	7	market	market	NOUN
ajbmeb-2854	242	8	capitalization	capitalization	NOUN
ajbmeb-2854	242	9	and	and	CCONJ
ajbmeb-2854	242	10	tobin	tobin	PROPN
ajbmeb-2854	242	11	as	as	ADP
ajbmeb-2854	242	12	firm	firm	ADJ
ajbmeb-2854	242	13	value	value	NOUN
ajbmeb-2854	242	14	is	be	AUX
ajbmeb-2854	242	15	as	as	SCONJ
ajbmeb-2854	242	16	stated	state	VERB
ajbmeb-2854	242	17	below	below	ADV
ajbmeb-2854	242	18	:	:	PUNCT
ajbmeb-2854	242	19	tobq=	tobq=	NUM
ajbmeb-2854	242	20	0	0	SYM
ajbmeb-2854	242	21	+	+	NUM
ajbmeb-2854	242	22	1	1	PUNCT
ajbmeb-2854	242	23	mcp	mcp	PROPN
ajbmeb-2854	242	24	+	+	PROPN
ajbmeb-2854	242	25	2div	2div	PROPN
ajbmeb-2854	242	26	+	+	ADJ
ajbmeb-2854	242	27	3inf+	3inf+	PROPN
ajbmeb-2854	242	28	u1,t	u1,t	PROPN
ajbmeb-2854	242	29	the	the	DET
ajbmeb-2854	242	30	regression	regression	NOUN
ajbmeb-2854	242	31	result	result	NOUN
ajbmeb-2854	242	32	based	base	VERB
ajbmeb-2854	242	33	on	on	ADP
ajbmeb-2854	242	34	the	the	DET
ajbmeb-2854	242	35	model	model	NOUN
ajbmeb-2854	242	36	specified	specify	VERB
ajbmeb-2854	242	37	above	above	ADV
ajbmeb-2854	242	38	is	be	AUX
ajbmeb-2854	242	39	stated	state	VERB
ajbmeb-2854	242	40	on	on	ADP
ajbmeb-2854	242	41	table	table	NOUN
ajbmeb-2854	243	1	5	5	NUM
ajbmeb-2854	243	2	:	:	PUNCT
ajbmeb-2854	243	3	table	table	NOUN
ajbmeb-2854	243	4	5	5	NUM
ajbmeb-2854	243	5	.	.	PUNCT
ajbmeb-2854	243	6	dividend	dividend	NOUN
ajbmeb-2854	243	7	,	,	PUNCT
ajbmeb-2854	243	8	market	market	NOUN
ajbmeb-2854	243	9	capitalization	capitalization	NOUN
ajbmeb-2854	243	10	and	and	CCONJ
ajbmeb-2854	243	11	tobin	tobin	PROPN
ajbmeb-2854	243	12	q	q	PROPN
ajbmeb-2854	243	13	variable	variable	PROPN
ajbmeb-2854	243	14	aprori	aprori	PROPN
ajbmeb-2854	243	15	sign	sign	PROPN
ajbmeb-2854	243	16	fe	fe	PROPN
ajbmeb-2854	243	17	model	model	PROPN
ajbmeb-2854	243	18	re	re	PROPN
ajbmeb-2854	243	19	model	model	PROPN
ajbmeb-2854	243	20	c	c	PROPN
ajbmeb-2854	243	21	+	+	PROPN
ajbmeb-2854	243	22	3979154	3979154	NUM
ajbmeb-2854	243	23	.	.	PUNCT
ajbmeb-2854	244	1	(	(	PUNCT
ajbmeb-2854	244	2	177449.9	177449.9	NUM
ajbmeb-2854	244	3	)	)	PUNCT
ajbmeb-2854	245	1	[	[	X
ajbmeb-2854	245	2	0.000	0.000	NUM
ajbmeb-2854	245	3	]	]	X
ajbmeb-2854	245	4	961664.2	961664.2	NUM
ajbmeb-2854	245	5	(	(	PUNCT
ajbmeb-2854	245	6	79261.09	79261.09	NUM
ajbmeb-2854	245	7	)	)	PUNCT
ajbmeb-2854	245	8	{	{	PUNCT
ajbmeb-2854	245	9	0.000	0.000	NUM
ajbmeb-2854	245	10	}	}	PUNCT
ajbmeb-2854	245	11	mcp	mcp	PROPN
ajbmeb-2854	245	12	+	+	NUM
ajbmeb-2854	245	13	3.14e-08	3.14e-08	NUM
ajbmeb-2854	245	14	(	(	PUNCT
ajbmeb-2854	245	15	3.34e-08	3.34e-08	NUM
ajbmeb-2854	245	16	)	)	PUNCT
ajbmeb-2854	245	17	{	{	PUNCT
ajbmeb-2854	245	18	0.3504	0.3504	NUM
ajbmeb-2854	245	19	}	}	PUNCT
ajbmeb-2854	245	20	2.18e-07	2.18e-07	NUM
ajbmeb-2854	245	21	(	(	PUNCT
ajbmeb-2854	245	22	1.37e-08	1.37e-08	NUM
ajbmeb-2854	245	23	)	)	PUNCT
ajbmeb-2854	245	24	{	{	PUNCT
ajbmeb-2854	245	25	0.000	0.000	NUM
ajbmeb-2854	245	26	}	}	PUNCT
ajbmeb-2854	245	27	divpay	divpay	NOUN
ajbmeb-2854	245	28	276.5317	276.5317	NUM
ajbmeb-2854	245	29	-416.517	-416.517	PROPN
ajbmeb-2854	245	30	american	american	ADJ
ajbmeb-2854	245	31	journal	journal	PROPN
ajbmeb-2854	245	32	of	of	ADP
ajbmeb-2854	245	33	business	business	NOUN
ajbmeb-2854	245	34	management	management	NOUN
ajbmeb-2854	245	35	,	,	PUNCT
ajbmeb-2854	245	36	economics	economic	NOUN
ajbmeb-2854	245	37	and	and	CCONJ
ajbmeb-2854	245	38	banking	banking	NOUN
ajbmeb-2854	245	39	volume	volume	NOUN
ajbmeb-2854	245	40	35	35	NUM
ajbmeb-2854	245	41	april	april	PROPN
ajbmeb-2854	245	42	2025	2025	NUM
ajbmeb-2854	245	43	p	p	NOUN
ajbmeb-2854	246	1	a	a	PRON
ajbmeb-2854	246	2	g	g	NOUN
ajbmeb-2854	246	3	e	e	NOUN
ajbmeb-2854	247	1	|	|	ADV
ajbmeb-2854	247	2	56	56	NUM
ajbmeb-2854	247	3	www.americanjournal.org	www.americanjournal.org	NOUN
ajbmeb-2854	247	4	(	(	PUNCT
ajbmeb-2854	247	5	78.7190	78.7190	NUM
ajbmeb-2854	247	6	)	)	PUNCT
ajbmeb-2854	247	7	{	{	PUNCT
ajbmeb-2854	247	8	0.000	0.000	NUM
ajbmeb-2854	247	9	}	}	PUNCT
ajbmeb-2854	247	10	(	(	PUNCT
ajbmeb-2854	247	11	378.79	378.79	NUM
ajbmeb-2854	247	12	)	)	PUNCT
ajbmeb-2854	247	13	{	{	PUNCT
ajbmeb-2854	247	14	0.2744	0.2744	NUM
ajbmeb-2854	247	15	}	}	PUNCT
ajbmeb-2854	247	16	infl	infl	PROPN
ajbmeb-2854	247	17	6948.854	6948.854	NUM
ajbmeb-2854	247	18	(	(	PUNCT
ajbmeb-2854	247	19	1519.7	1519.7	NUM
ajbmeb-2854	247	20	)	)	PUNCT
ajbmeb-2854	247	21	{	{	PUNCT
ajbmeb-2854	247	22	0.000	0.000	NOUN
ajbmeb-2854	247	23	}	}	PUNCT
ajbmeb-2854	247	24	12250.1	12250.1	NUM
ajbmeb-2854	247	25	(	(	PUNCT
ajbmeb-2854	247	26	1866.9	1866.9	NUM
ajbmeb-2854	247	27	)	)	PUNCT
ajbmeb-2854	247	28	{	{	PUNCT
ajbmeb-2854	247	29	0.000	0.000	NUM
ajbmeb-2854	247	30	}	}	PUNCT
ajbmeb-2854	247	31	model	model	NOUN
ajbmeb-2854	247	32	parameters	parameter	NOUN
ajbmeb-2854	247	33	r2	r2	VERB
ajbmeb-2854	247	34	0.9418	0.9418	NUM
ajbmeb-2854	247	35	0.7785	0.7785	NUM
ajbmeb-2854	247	36	adjusted	adjust	VERB
ajbmeb-2854	247	37	r2	r2	NOUN
ajbmeb-2854	247	38	0.9179	0.9179	NUM
ajbmeb-2854	247	39	0.753	0.753	NUM
ajbmeb-2854	247	40	f	f	X
ajbmeb-2854	247	41	-	-	PUNCT
ajbmeb-2854	247	42	statistic	statistic	ADJ
ajbmeb-2854	247	43	39.3933	39.3933	NUM
ajbmeb-2854	247	44	32.695	32.695	NUM
ajbmeb-2854	247	45	prob(f	prob(f	NOUN
ajbmeb-2854	247	46	-	-	PUNCT
ajbmeb-2854	247	47	stat	stat	NOUN
ajbmeb-2854	247	48	)	)	PUNCT
ajbmeb-2854	247	49	0.000	0.000	NUM
ajbmeb-2854	247	50	0.000	0.000	NUM
ajbmeb-2854	247	51	durbin	durbin	NOUN
ajbmeb-2854	247	52	-	-	PUNCT
ajbmeb-2854	247	53	watson	watson	PROPN
ajbmeb-2854	247	54	1.7	1.7	NUM
ajbmeb-2854	247	55	0.5529	0.5529	NUM
ajbmeb-2854	247	56	model	model	NOUN
ajbmeb-2854	247	57	diagnostics	diagnostic	NOUN
ajbmeb-2854	247	58	hausman	hausman	NOUN
ajbmeb-2854	247	59	0.000	0.000	NUM
ajbmeb-2854	247	60	ramsey	ramsey	NOUN
ajbmeb-2854	247	61	reset	reset	NOUN
ajbmeb-2854	247	62	test	test	NOUN
ajbmeb-2854	247	63	0.291	0.291	NUM
ajbmeb-2854	247	64	period	period	NOUN
ajbmeb-2854	247	65	hetero.test	hetero.test	PROPN
ajbmeb-2854	247	66	0.893	0.893	NUM
ajbmeb-2854	247	67	cross	cross	ADJ
ajbmeb-2854	247	68	-	-	NOUN
ajbmeb-2854	247	69	section	section	NOUN
ajbmeb-2854	247	70	hetero.test	hetero.test	NUM
ajbmeb-2854	247	71	0.1194	0.1194	NUM
ajbmeb-2854	247	72	pesaran	pesaran	ADJ
ajbmeb-2854	247	73	cd	cd	NOUN
ajbmeb-2854	247	74	for	for	ADP
ajbmeb-2854	247	75	serial	serial	ADJ
ajbmeb-2854	247	76	correlation	correlation	NOUN
ajbmeb-2854	247	77	0.110	0.110	NUM
ajbmeb-2854	247	78	table	table	NOUN
ajbmeb-2854	247	79	5	5	NUM
ajbmeb-2854	247	80	show	show	VERB
ajbmeb-2854	247	81	the	the	DET
ajbmeb-2854	247	82	regression	regression	NOUN
ajbmeb-2854	247	83	results	result	NOUN
ajbmeb-2854	247	84	for	for	ADP
ajbmeb-2854	247	85	tobin	tobin	PROPN
ajbmeb-2854	247	86	q	q	PROPN
ajbmeb-2854	247	87	and	and	CCONJ
ajbmeb-2854	247	88	identified	identify	VERB
ajbmeb-2854	247	89	corporate	corporate	ADJ
ajbmeb-2854	247	90	determinants	determinant	NOUN
ajbmeb-2854	247	91	.	.	PUNCT
ajbmeb-2854	248	1	the	the	DET
ajbmeb-2854	248	2	hausman	hausman	PROPN
ajbmeb-2854	248	3	test	test	NOUN
ajbmeb-2854	248	4	statistic	statistic	NOUN
ajbmeb-2854	248	5	with	with	ADP
ajbmeb-2854	248	6	p	p	NOUN
ajbmeb-2854	248	7	-	-	PUNCT
ajbmeb-2854	248	8	value	value	NOUN
ajbmeb-2854	248	9	=	=	NOUN
ajbmeb-2854	248	10	0.038	0.038	NUM
ajbmeb-2854	248	11	,	,	PUNCT
ajbmeb-2854	248	12	indicates	indicate	VERB
ajbmeb-2854	248	13	that	that	SCONJ
ajbmeb-2854	248	14	the	the	DET
ajbmeb-2854	248	15	fe	fe	NOUN
ajbmeb-2854	248	16	is	be	AUX
ajbmeb-2854	248	17	the	the	DET
ajbmeb-2854	248	18	preferred	preferred	ADJ
ajbmeb-2854	248	19	model	model	NOUN
ajbmeb-2854	248	20	to	to	ADP
ajbmeb-2854	248	21	the	the	DET
ajbmeb-2854	248	22	random	random	ADJ
ajbmeb-2854	248	23	effects	effect	NOUN
ajbmeb-2854	248	24	indicating	indicate	VERB
ajbmeb-2854	248	25	the	the	DET
ajbmeb-2854	248	26	presence	presence	NOUN
ajbmeb-2854	248	27	of	of	ADP
ajbmeb-2854	248	28	correlations	correlation	NOUN
ajbmeb-2854	248	29	between	between	ADP
ajbmeb-2854	248	30	the	the	DET
ajbmeb-2854	248	31	errors	error	NOUN
ajbmeb-2854	248	32	and	and	CCONJ
ajbmeb-2854	248	33	the	the	DET
ajbmeb-2854	248	34	explanatory	explanatory	ADJ
ajbmeb-2854	248	35	variables	variable	NOUN
ajbmeb-2854	248	36	which	which	PRON
ajbmeb-2854	248	37	is	be	AUX
ajbmeb-2854	248	38	the	the	DET
ajbmeb-2854	248	39	key	key	ADJ
ajbmeb-2854	248	40	assumption	assumption	NOUN
ajbmeb-2854	248	41	of	of	ADP
ajbmeb-2854	248	42	the	the	DET
ajbmeb-2854	248	43	fixed	fix	VERB
ajbmeb-2854	248	44	effects	effect	NOUN
ajbmeb-2854	248	45	(	(	PUNCT
ajbmeb-2854	248	46	hausman	hausman	PROPN
ajbmeb-2854	248	47	,	,	PUNCT
ajbmeb-2854	248	48	1998	1998	NUM
ajbmeb-2854	248	49	)	)	PUNCT
ajbmeb-2854	248	50	.	.	PUNCT
ajbmeb-2854	249	1	the	the	DET
ajbmeb-2854	249	2	r2	r2	PROPN
ajbmeb-2854	249	3	is	be	AUX
ajbmeb-2854	249	4	94.18	94.18	NUM
ajbmeb-2854	249	5	%	%	NOUN
ajbmeb-2854	249	6	with	with	ADP
ajbmeb-2854	249	7	and	and	CCONJ
ajbmeb-2854	249	8	adjusted	adjust	VERB
ajbmeb-2854	249	9	value	value	NOUN
ajbmeb-2854	249	10	of	of	ADP
ajbmeb-2854	249	11	91.79	91.79	NUM
ajbmeb-2854	249	12	%	%	NOUN
ajbmeb-2854	249	13	.	.	PUNCT
ajbmeb-2854	250	1	the	the	DET
ajbmeb-2854	250	2	f	f	NOUN
ajbmeb-2854	250	3	-	-	PUNCT
ajbmeb-2854	250	4	stat	stat	NOUN
ajbmeb-2854	250	5	of	of	ADP
ajbmeb-2854	250	6	39.393	39.393	NUM
ajbmeb-2854	250	7	(	(	PUNCT
ajbmeb-2854	250	8	p	p	NOUN
ajbmeb-2854	250	9	-	-	PUNCT
ajbmeb-2854	250	10	value	value	NOUN
ajbmeb-2854	250	11	=	=	NOUN
ajbmeb-2854	250	12	0.00	0.00	NUM
ajbmeb-2854	250	13	)	)	PUNCT
ajbmeb-2854	250	14	and	and	CCONJ
ajbmeb-2854	250	15	significant	significant	ADJ
ajbmeb-2854	250	16	at	at	ADP
ajbmeb-2854	250	17	5	5	NUM
ajbmeb-2854	250	18	%	%	NOUN
ajbmeb-2854	250	19	.	.	PUNCT
ajbmeb-2854	251	1	the	the	DET
ajbmeb-2854	251	2	durbin	durbin	PROPN
ajbmeb-2854	251	3	watson	watson	PROPN
ajbmeb-2854	251	4	value	value	NOUN
ajbmeb-2854	251	5	of	of	ADP
ajbmeb-2854	251	6	1.7	1.7	NUM
ajbmeb-2854	251	7	suggest	suggest	VERB
ajbmeb-2854	251	8	that	that	SCONJ
ajbmeb-2854	251	9	the	the	DET
ajbmeb-2854	251	10	presence	presence	NOUN
ajbmeb-2854	251	11	of	of	ADP
ajbmeb-2854	251	12	serial	serial	ADJ
ajbmeb-2854	251	13	correlation	correlation	NOUN
ajbmeb-2854	251	14	between	between	ADP
ajbmeb-2854	251	15	the	the	DET
ajbmeb-2854	251	16	errors	error	NOUN
ajbmeb-2854	251	17	is	be	AUX
ajbmeb-2854	251	18	unlikely	unlikely	ADJ
ajbmeb-2854	251	19	in	in	ADP
ajbmeb-2854	251	20	the	the	DET
ajbmeb-2854	251	21	model	model	NOUN
ajbmeb-2854	251	22	.	.	PUNCT
ajbmeb-2854	252	1	mcp	mcp	PROPN
ajbmeb-2854	252	2	has	have	VERB
ajbmeb-2854	252	3	a	a	DET
ajbmeb-2854	252	4	negative	negative	ADJ
ajbmeb-2854	252	5	beta	beta	NOUN
ajbmeb-2854	252	6	(	(	PUNCT
ajbmeb-2854	252	7	3.14e-08	3.14e-08	NOUN
ajbmeb-2854	252	8	)	)	PUNCT
ajbmeb-2854	252	9	though	though	SCONJ
ajbmeb-2854	252	10	not	not	PART
ajbmeb-2854	252	11	significant	significant	ADJ
ajbmeb-2854	252	12	at	at	ADP
ajbmeb-2854	252	13	5	5	NUM
ajbmeb-2854	252	14	%	%	NOUN
ajbmeb-2854	252	15	(	(	PUNCT
ajbmeb-2854	252	16	p=0.3584	p=0.3584	NOUN
ajbmeb-2854	252	17	)	)	PUNCT
ajbmeb-2854	252	18	.	.	PUNCT
ajbmeb-2854	253	1	the	the	DET
ajbmeb-2854	253	2	effect	effect	NOUN
ajbmeb-2854	253	3	of	of	ADP
ajbmeb-2854	253	4	divpay	divpay	NOUN
ajbmeb-2854	253	5	is	be	AUX
ajbmeb-2854	253	6	positive	positive	ADJ
ajbmeb-2854	253	7	(	(	PUNCT
ajbmeb-2854	253	8	276.5317	276.5317	NUM
ajbmeb-2854	253	9	)	)	PUNCT
ajbmeb-2854	253	10	and	and	CCONJ
ajbmeb-2854	253	11	statistically	statistically	ADV
ajbmeb-2854	253	12	significant	significant	ADJ
ajbmeb-2854	253	13	(	(	PUNCT
ajbmeb-2854	253	14	p=0.000	p=0.000	NOUN
ajbmeb-2854	253	15	)	)	PUNCT
ajbmeb-2854	253	16	at	at	ADP
ajbmeb-2854	253	17	5	5	NUM
ajbmeb-2854	253	18	%	%	NOUN
ajbmeb-2854	253	19	.	.	PUNCT
ajbmeb-2854	254	1	infl	infl	PROPN
ajbmeb-2854	254	2	has	have	VERB
ajbmeb-2854	254	3	a	a	DET
ajbmeb-2854	254	4	positive	positive	ADJ
ajbmeb-2854	254	5	beta	beta	NOUN
ajbmeb-2854	254	6	(	(	PUNCT
ajbmeb-2854	254	7	6948.9	6948.9	NUM
ajbmeb-2854	254	8	)	)	PUNCT
ajbmeb-2854	254	9	and	and	CCONJ
ajbmeb-2854	254	10	statistically	statistically	ADV
ajbmeb-2854	254	11	significant	significant	ADJ
ajbmeb-2854	254	12	(	(	PUNCT
ajbmeb-2854	254	13	p=0.000	p=0.000	NOUN
ajbmeb-2854	254	14	)	)	PUNCT
ajbmeb-2854	254	15	at	at	ADP
ajbmeb-2854	254	16	5	5	NUM
ajbmeb-2854	254	17	%	%	NOUN
ajbmeb-2854	254	18	..	..	PUNCT
ajbmeb-2854	255	1	both	both	PRON
ajbmeb-2854	255	2	panel	panel	NOUN
ajbmeb-2854	255	3	period	period	NOUN
ajbmeb-2854	255	4	heteroskedasticity	heteroskedasticity	NOUN
ajbmeb-2854	255	5	and	and	CCONJ
ajbmeb-2854	255	6	cross	cross	ADJ
ajbmeb-2854	255	7	-	-	ADJ
ajbmeb-2854	255	8	sectional	sectional	ADJ
ajbmeb-2854	255	9	heteroskedasticity	heteroskedasticity	NOUN
ajbmeb-2854	255	10	test	test	NOUN
ajbmeb-2854	255	11	confirm	confirm	VERB
ajbmeb-2854	255	12	that	that	SCONJ
ajbmeb-2854	255	13	the	the	DET
ajbmeb-2854	255	14	estimations	estimation	NOUN
ajbmeb-2854	255	15	were	be	AUX
ajbmeb-2854	255	16	found	find	VERB
ajbmeb-2854	255	17	to	to	PART
ajbmeb-2854	255	18	be	be	AUX
ajbmeb-2854	255	19	free	free	ADJ
ajbmeb-2854	255	20	from	from	ADP
ajbmeb-2854	255	21	such	such	ADJ
ajbmeb-2854	255	22	.	.	PUNCT
ajbmeb-2854	256	1	the	the	DET
ajbmeb-2854	256	2	peseran	peseran	NOUN
ajbmeb-2854	256	3	crossdependence	crossdependence	NOUN
ajbmeb-2854	256	4	test	test	NOUN
ajbmeb-2854	256	5	was	be	AUX
ajbmeb-2854	256	6	employed	employ	VERB
ajbmeb-2854	256	7	to	to	PART
ajbmeb-2854	256	8	confirm	confirm	VERB
ajbmeb-2854	256	9	the	the	DET
ajbmeb-2854	256	10	threat	threat	NOUN
ajbmeb-2854	256	11	of	of	ADP
ajbmeb-2854	256	12	the	the	DET
ajbmeb-2854	256	13	serial	serial	ADJ
ajbmeb-2854	256	14	correlation	correlation	NOUN
ajbmeb-2854	256	15	in	in	ADP
ajbmeb-2854	256	16	the	the	DET
ajbmeb-2854	256	17	errors	error	NOUN
ajbmeb-2854	256	18	and	and	CCONJ
ajbmeb-2854	256	19	the	the	DET
ajbmeb-2854	256	20	statistic	statistic	NOUN
ajbmeb-2854	256	21	reveals	reveal	VERB
ajbmeb-2854	256	22	the	the	DET
ajbmeb-2854	256	23	absence	absence	NOUN
ajbmeb-2854	256	24	of	of	ADP
ajbmeb-2854	256	25	cross	cross	ADJ
ajbmeb-2854	256	26	-	-	ADJ
ajbmeb-2854	256	27	section	section	ADJ
ajbmeb-2854	256	28	dependence	dependence	NOUN
ajbmeb-2854	256	29	in	in	ADP
ajbmeb-2854	256	30	the	the	DET
ajbmeb-2854	256	31	residuals	residual	NOUN
ajbmeb-2854	256	32	.	.	PUNCT
ajbmeb-2854	257	1	the	the	DET
ajbmeb-2854	257	2	ramsey	ramsey	PROPN
ajbmeb-2854	257	3	reset	reset	PROPN
ajbmeb-2854	257	4	test	test	NOUN
ajbmeb-2854	257	5	confirms	confirm	VERB
ajbmeb-2854	257	6	that	that	SCONJ
ajbmeb-2854	257	7	the	the	DET
ajbmeb-2854	257	8	model	model	NOUN
ajbmeb-2854	257	9	is	be	AUX
ajbmeb-2854	257	10	correctly	correctly	ADV
ajbmeb-2854	257	11	specified	specify	VERB
ajbmeb-2854	257	12	.	.	PUNCT
ajbmeb-2854	258	1	dividend	dividend	NOUN
ajbmeb-2854	258	2	,	,	PUNCT
ajbmeb-2854	258	3	market	market	NOUN
ajbmeb-2854	258	4	capitalization	capitalization	NOUN
ajbmeb-2854	258	5	and	and	CCONJ
ajbmeb-2854	258	6	price	price	NOUN
ajbmeb-2854	258	7	earnings	earning	NOUN
ajbmeb-2854	258	8	ratio	ratio	NOUN
ajbmeb-2854	258	9	the	the	DET
ajbmeb-2854	258	10	econometric	econometric	ADJ
ajbmeb-2854	258	11	model	model	NOUN
ajbmeb-2854	258	12	for	for	ADP
ajbmeb-2854	258	13	dividend	dividend	NOUN
ajbmeb-2854	258	14	,	,	PUNCT
ajbmeb-2854	258	15	market	market	NOUN
ajbmeb-2854	258	16	capitalization	capitalization	NOUN
ajbmeb-2854	258	17	and	and	CCONJ
ajbmeb-2854	258	18	price	price	NOUN
ajbmeb-2854	258	19	earnings	earning	NOUN
ajbmeb-2854	258	20	ratio	ratio	NOUN
ajbmeb-2854	258	21	is	be	AUX
ajbmeb-2854	258	22	stated	state	VERB
ajbmeb-2854	258	23	below	below	ADV
ajbmeb-2854	258	24	:	:	PUNCT
ajbmeb-2854	258	25	perr	perr	VERB
ajbmeb-2854	258	26	=	=	PUNCT
ajbmeb-2854	258	27	0	0	NOUN
ajbmeb-2854	259	1	+	+	CCONJ
ajbmeb-2854	259	2	1mcp	1mcp	NUM
ajbmeb-2854	259	3	+	+	PROPN
ajbmeb-2854	259	4	6div+3inf+	6div+3inf+	ADJ
ajbmeb-2854	259	5	u2,t	u2,t	NOUN
ajbmeb-2854	259	6	based	base	VERB
ajbmeb-2854	259	7	on	on	ADP
ajbmeb-2854	259	8	this	this	DET
ajbmeb-2854	259	9	relation	relation	NOUN
ajbmeb-2854	259	10	,	,	PUNCT
ajbmeb-2854	259	11	regression	regression	NOUN
ajbmeb-2854	259	12	result	result	NOUN
ajbmeb-2854	259	13	to	to	PART
ajbmeb-2854	259	14	ascertain	ascertain	VERB
ajbmeb-2854	259	15	the	the	DET
ajbmeb-2854	259	16	nature	nature	NOUN
ajbmeb-2854	259	17	of	of	ADP
ajbmeb-2854	259	18	relationship	relationship	NOUN
ajbmeb-2854	259	19	between	between	ADP
ajbmeb-2854	259	20	the	the	DET
ajbmeb-2854	259	21	variables	variable	NOUN
ajbmeb-2854	259	22	of	of	ADP
ajbmeb-2854	259	23	study	study	NOUN
ajbmeb-2854	259	24	is	be	AUX
ajbmeb-2854	259	25	presented	present	VERB
ajbmeb-2854	259	26	on	on	ADP
ajbmeb-2854	259	27	table	table	NOUN
ajbmeb-2854	259	28	6	6	NUM
ajbmeb-2854	259	29	below	below	ADP
ajbmeb-2854	259	30	american	american	ADJ
ajbmeb-2854	259	31	journal	journal	PROPN
ajbmeb-2854	259	32	of	of	ADP
ajbmeb-2854	259	33	business	business	NOUN
ajbmeb-2854	259	34	management	management	NOUN
ajbmeb-2854	259	35	,	,	PUNCT
ajbmeb-2854	259	36	economics	economic	NOUN
ajbmeb-2854	259	37	and	and	CCONJ
ajbmeb-2854	259	38	banking	banking	NOUN
ajbmeb-2854	259	39	volume	volume	NOUN
ajbmeb-2854	259	40	35	35	NUM
ajbmeb-2854	259	41	april	april	PROPN
ajbmeb-2854	259	42	2025	2025	NUM
ajbmeb-2854	259	43	p	p	NOUN
ajbmeb-2854	260	1	a	a	DET
ajbmeb-2854	260	2	g	g	NOUN
ajbmeb-2854	260	3	e	e	NOUN
ajbmeb-2854	260	4	|	|	ADV
ajbmeb-2854	260	5	57	57	NUM
ajbmeb-2854	260	6	www.americanjournal.org	www.americanjournal.org	NOUN
ajbmeb-2854	260	7	table	table	NOUN
ajbmeb-2854	260	8	6	6	NUM
ajbmeb-2854	260	9	.	.	PUNCT
ajbmeb-2854	261	1	perr	perr	NOUN
ajbmeb-2854	261	2	and	and	CCONJ
ajbmeb-2854	261	3	value	value	NOUN
ajbmeb-2854	261	4	determinants	determinant	NOUN
ajbmeb-2854	261	5	variable	variable	ADJ
ajbmeb-2854	261	6	aprori	aprori	PROPN
ajbmeb-2854	261	7	sign	sign	PROPN
ajbmeb-2854	261	8	fe	fe	PROPN
ajbmeb-2854	261	9	model	model	PROPN
ajbmeb-2854	261	10	re	re	PROPN
ajbmeb-2854	261	11	model	model	PROPN
ajbmeb-2854	261	12	c	c	PROPN
ajbmeb-2854	261	13	+	+	PUNCT
ajbmeb-2854	261	14	-52.2849	-52.2849	PUNCT
ajbmeb-2854	261	15	(	(	PUNCT
ajbmeb-2854	261	16	8.5441	8.5441	NUM
ajbmeb-2854	261	17	)	)	PUNCT
ajbmeb-2854	262	1	[	[	X
ajbmeb-2854	262	2	0.000	0.000	X
ajbmeb-2854	262	3	]	]	X
ajbmeb-2854	262	4	74.9118	74.9118	NUM
ajbmeb-2854	262	5	(	(	PUNCT
ajbmeb-2854	262	6	45.324	45.324	NUM
ajbmeb-2854	262	7	)	)	PUNCT
ajbmeb-2854	262	8	{	{	PUNCT
ajbmeb-2854	262	9	0.1018	0.1018	NUM
ajbmeb-2854	262	10	}	}	PUNCT
ajbmeb-2854	262	11	mcp	mcp	PROPN
ajbmeb-2854	262	12	+	+	PROPN
ajbmeb-2854	262	13	1.27e-11	1.27e-11	NUM
ajbmeb-2854	262	14	(	(	PUNCT
ajbmeb-2854	262	15	4.28e-08	4.28e-08	NOUN
ajbmeb-2854	262	16	)	)	PUNCT
ajbmeb-2854	262	17	{	{	PUNCT
ajbmeb-2854	262	18	0.0040	0.0040	NUM
ajbmeb-2854	262	19	}	}	PUNCT
ajbmeb-2854	262	20	4.05e-12	4.05e-12	NUM
ajbmeb-2854	262	21	(	(	PUNCT
ajbmeb-2854	262	22	7.77e-12	7.77e-12	NUM
ajbmeb-2854	262	23	)	)	PUNCT
ajbmeb-2854	262	24	{	{	PUNCT
ajbmeb-2854	262	25	0.6040	0.6040	NUM
ajbmeb-2854	262	26	}	}	PUNCT
ajbmeb-2854	262	27	divpay	divpay	NOUN
ajbmeb-2854	262	28	42.639	42.639	NUM
ajbmeb-2854	262	29	(	(	PUNCT
ajbmeb-2854	262	30	0.0229	0.0229	NUM
ajbmeb-2854	262	31	)	)	PUNCT
ajbmeb-2854	262	32	{	{	PUNCT
ajbmeb-2854	262	33	0.000	0.000	NUM
ajbmeb-2854	262	34	}	}	SYM
ajbmeb-2854	262	35	42.4822	42.4822	NUM
ajbmeb-2854	262	36	(	(	PUNCT
ajbmeb-2854	262	37	0.2076	0.2076	NUM
ajbmeb-2854	262	38	)	)	PUNCT
ajbmeb-2854	262	39	{	{	PUNCT
ajbmeb-2854	262	40	0.000	0.000	NUM
ajbmeb-2854	262	41	}	}	PUNCT
ajbmeb-2854	262	42	infl	infl	PROPN
ajbmeb-2854	262	43	0.7194	0.7194	NUM
ajbmeb-2854	262	44	(	(	PUNCT
ajbmeb-2854	262	45	0.2315	0.2315	NUM
ajbmeb-2854	262	46	)	)	PUNCT
ajbmeb-2854	262	47	{	{	PUNCT
ajbmeb-2854	262	48	0.0027	0.0027	NUM
ajbmeb-2854	262	49	}	}	PUNCT
ajbmeb-2854	262	50	1.8438	1.8438	NUM
ajbmeb-2854	262	51	(	(	PUNCT
ajbmeb-2854	262	52	1.01629	1.01629	NUM
ajbmeb-2854	262	53	)	)	PUNCT
ajbmeb-2854	262	54	{	{	PUNCT
ajbmeb-2854	262	55	0.0729	0.0729	NUM
ajbmeb-2854	262	56	}	}	PUNCT
ajbmeb-2854	262	57	model	model	NOUN
ajbmeb-2854	262	58	parameters	parameter	NOUN
ajbmeb-2854	262	59	r2	r2	PROPN
ajbmeb-2854	262	60	0.999	0.999	NUM
ajbmeb-2854	262	61	0.998	0.998	NUM
ajbmeb-2854	262	62	adjusted	adjust	VERB
ajbmeb-2854	262	63	r2	r2	NOUN
ajbmeb-2854	262	64	0.999	0.999	NUM
ajbmeb-2854	262	65	0.997	0.997	NUM
ajbmeb-2854	262	66	f	f	X
ajbmeb-2854	262	67	-	-	PUNCT
ajbmeb-2854	262	68	statistic	statistic	ADJ
ajbmeb-2854	262	69	1005.57	1005.57	NUM
ajbmeb-2854	262	70	4816.000	4816.000	NUM
ajbmeb-2854	262	71	prob(f	prob(f	NOUN
ajbmeb-2854	262	72	-	-	PUNCT
ajbmeb-2854	262	73	stat	stat	NOUN
ajbmeb-2854	262	74	)	)	PUNCT
ajbmeb-2854	262	75	0.000	0.000	NUM
ajbmeb-2854	262	76	0.000	0.000	NUM
ajbmeb-2854	262	77	durbin	durbin	NOUN
ajbmeb-2854	262	78	-	-	PUNCT
ajbmeb-2854	262	79	watson	watson	NOUN
ajbmeb-2854	262	80	2.2	2.2	NUM
ajbmeb-2854	262	81	2.5	2.5	NUM
ajbmeb-2854	262	82	model	model	NOUN
ajbmeb-2854	262	83	diagnostics	diagnostic	NOUN
ajbmeb-2854	262	84	hausman	hausman	NOUN
ajbmeb-2854	262	85	0.000	0.000	NUM
ajbmeb-2854	262	86	ramsey	ramsey	NOUN
ajbmeb-2854	262	87	reset	reset	NOUN
ajbmeb-2854	262	88	test	test	NOUN
ajbmeb-2854	262	89	0.531	0.531	NUM
ajbmeb-2854	262	90	period	period	NOUN
ajbmeb-2854	262	91	hetero.test	hetero.test	PRON
ajbmeb-2854	262	92	0.387	0.387	NUM
ajbmeb-2854	262	93	cross	cross	ADJ
ajbmeb-2854	262	94	-	-	NOUN
ajbmeb-2854	262	95	section	section	NOUN
ajbmeb-2854	262	96	hetero.test	hetero.test	NOUN
ajbmeb-2854	262	97	0.681	0.681	NUM
ajbmeb-2854	262	98	pesaran	pesaran	ADJ
ajbmeb-2854	262	99	cd	cd	PROPN
ajbmeb-2854	262	100	for	for	ADP
ajbmeb-2854	262	101	serial	serial	ADJ
ajbmeb-2854	262	102	correlation	correlation	NOUN
ajbmeb-2854	262	103	0.295	0.295	NUM
ajbmeb-2854	262	104	table	table	NOUN
ajbmeb-2854	262	105	6	6	NUM
ajbmeb-2854	262	106	show	show	VERB
ajbmeb-2854	262	107	the	the	DET
ajbmeb-2854	262	108	regression	regression	NOUN
ajbmeb-2854	262	109	results	result	NOUN
ajbmeb-2854	262	110	for	for	ADP
ajbmeb-2854	262	111	price	price	NOUN
ajbmeb-2854	262	112	earnings	earning	NOUN
ajbmeb-2854	262	113	ratio	ratio	NOUN
ajbmeb-2854	262	114	and	and	CCONJ
ajbmeb-2854	262	115	identified	identify	VERB
ajbmeb-2854	262	116	value	value	NOUN
ajbmeb-2854	262	117	determinants	determinant	NOUN
ajbmeb-2854	262	118	.	.	PUNCT
ajbmeb-2854	263	1	the	the	DET
ajbmeb-2854	263	2	hausman	hausman	PROPN
ajbmeb-2854	263	3	test	test	NOUN
ajbmeb-2854	263	4	statistic	statistic	NOUN
ajbmeb-2854	263	5	with	with	ADP
ajbmeb-2854	263	6	p	p	NOUN
ajbmeb-2854	263	7	-	-	PUNCT
ajbmeb-2854	263	8	value	value	NOUN
ajbmeb-2854	263	9	=	=	NOUN
ajbmeb-2854	263	10	0.000	0.000	NUM
ajbmeb-2854	263	11	,	,	PUNCT
ajbmeb-2854	263	12	indicates	indicate	VERB
ajbmeb-2854	263	13	that	that	SCONJ
ajbmeb-2854	263	14	the	the	DET
ajbmeb-2854	263	15	fe	fe	NOUN
ajbmeb-2854	263	16	is	be	AUX
ajbmeb-2854	263	17	the	the	DET
ajbmeb-2854	263	18	preferred	preferred	ADJ
ajbmeb-2854	263	19	model	model	NOUN
ajbmeb-2854	263	20	to	to	ADP
ajbmeb-2854	263	21	the	the	DET
ajbmeb-2854	263	22	random	random	ADJ
ajbmeb-2854	263	23	effects	effect	NOUN
ajbmeb-2854	263	24	indicating	indicate	VERB
ajbmeb-2854	263	25	the	the	DET
ajbmeb-2854	263	26	presence	presence	NOUN
ajbmeb-2854	263	27	of	of	ADP
ajbmeb-2854	263	28	correlations	correlation	NOUN
ajbmeb-2854	263	29	between	between	ADP
ajbmeb-2854	263	30	the	the	DET
ajbmeb-2854	263	31	errors	error	NOUN
ajbmeb-2854	263	32	and	and	CCONJ
ajbmeb-2854	263	33	the	the	DET
ajbmeb-2854	263	34	explanatory	explanatory	ADJ
ajbmeb-2854	263	35	variables	variable	NOUN
ajbmeb-2854	263	36	which	which	PRON
ajbmeb-2854	263	37	is	be	AUX
ajbmeb-2854	263	38	the	the	DET
ajbmeb-2854	263	39	key	key	ADJ
ajbmeb-2854	263	40	assumption	assumption	NOUN
ajbmeb-2854	263	41	of	of	ADP
ajbmeb-2854	263	42	the	the	DET
ajbmeb-2854	263	43	fixed	fix	VERB
ajbmeb-2854	263	44	effects	effect	NOUN
ajbmeb-2854	263	45	(	(	PUNCT
ajbmeb-2854	263	46	hausman	hausman	PROPN
ajbmeb-2854	263	47	,	,	PUNCT
ajbmeb-2854	263	48	1998	1998	NUM
ajbmeb-2854	263	49	)	)	PUNCT
ajbmeb-2854	263	50	.	.	PUNCT
ajbmeb-2854	264	1	the	the	DET
ajbmeb-2854	264	2	r2	r2	PROPN
ajbmeb-2854	264	3	is	be	AUX
ajbmeb-2854	264	4	99	99	NUM
ajbmeb-2854	264	5	%	%	NOUN
ajbmeb-2854	264	6	which	which	PRON
ajbmeb-2854	264	7	indicates	indicate	VERB
ajbmeb-2854	264	8	a	a	DET
ajbmeb-2854	264	9	very	very	ADV
ajbmeb-2854	264	10	good	good	ADJ
ajbmeb-2854	264	11	fit	fit	ADJ
ajbmeb-2854	264	12	validating	validate	VERB
ajbmeb-2854	264	13	the	the	DET
ajbmeb-2854	264	14	choice	choice	NOUN
ajbmeb-2854	264	15	of	of	ADP
ajbmeb-2854	264	16	variables	variable	NOUN
ajbmeb-2854	264	17	selected	select	VERB
ajbmeb-2854	264	18	as	as	ADP
ajbmeb-2854	264	19	determinants	determinant	NOUN
ajbmeb-2854	264	20	of	of	ADP
ajbmeb-2854	264	21	peratio	peratio	PROPN
ajbmeb-2854	264	22	.	.	PUNCT
ajbmeb-2854	265	1	the	the	DET
ajbmeb-2854	265	2	f	f	NOUN
ajbmeb-2854	265	3	-	-	PUNCT
ajbmeb-2854	265	4	stat	stat	NOUN
ajbmeb-2854	265	5	of	of	ADP
ajbmeb-2854	265	6	1005.57	1005.57	NUM
ajbmeb-2854	265	7	(	(	PUNCT
ajbmeb-2854	265	8	pvalue	pvalue	NOUN
ajbmeb-2854	265	9	=	=	NOUN
ajbmeb-2854	265	10	0.00	0.00	NUM
ajbmeb-2854	265	11	)	)	PUNCT
ajbmeb-2854	265	12	and	and	CCONJ
ajbmeb-2854	265	13	significant	significant	ADJ
ajbmeb-2854	265	14	at	at	ADP
ajbmeb-2854	265	15	5	5	NUM
ajbmeb-2854	265	16	%	%	NOUN
ajbmeb-2854	265	17	.	.	PUNCT
ajbmeb-2854	266	1	the	the	DET
ajbmeb-2854	266	2	durbin	durbin	PROPN
ajbmeb-2854	266	3	watson	watson	PROPN
ajbmeb-2854	266	4	value	value	NOUN
ajbmeb-2854	266	5	of	of	ADP
ajbmeb-2854	266	6	2.2	2.2	NUM
ajbmeb-2854	266	7	suggest	suggest	VERB
ajbmeb-2854	266	8	that	that	SCONJ
ajbmeb-2854	266	9	the	the	DET
ajbmeb-2854	266	10	presence	presence	NOUN
ajbmeb-2854	266	11	of	of	ADP
ajbmeb-2854	266	12	serial	serial	ADJ
ajbmeb-2854	266	13	correlation	correlation	NOUN
ajbmeb-2854	266	14	between	between	ADP
ajbmeb-2854	266	15	the	the	DET
ajbmeb-2854	266	16	errors	error	NOUN
ajbmeb-2854	266	17	is	be	AUX
ajbmeb-2854	266	18	unlikely	unlikely	ADJ
ajbmeb-2854	266	19	in	in	ADP
ajbmeb-2854	266	20	the	the	DET
ajbmeb-2854	266	21	model	model	NOUN
ajbmeb-2854	266	22	.	.	PUNCT
ajbmeb-2854	267	1	the	the	DET
ajbmeb-2854	267	2	analysis	analysis	NOUN
ajbmeb-2854	267	3	of	of	ADP
ajbmeb-2854	267	4	coefficients	coefficient	NOUN
ajbmeb-2854	267	5	reveals	reveal	VERB
ajbmeb-2854	267	6	that	that	SCONJ
ajbmeb-2854	267	7	mcp	mcp	PROPN
ajbmeb-2854	267	8	has	have	VERB
ajbmeb-2854	267	9	a	a	DET
ajbmeb-2854	267	10	negative	negative	ADJ
ajbmeb-2854	267	11	beta	beta	NOUN
ajbmeb-2854	267	12	(	(	PUNCT
ajbmeb-2854	267	13	1.27e-011	1.27e-011	NUM
ajbmeb-2854	267	14	)	)	PUNCT
ajbmeb-2854	267	15	and	and	CCONJ
ajbmeb-2854	267	16	significant	significant	ADJ
ajbmeb-2854	267	17	at	at	ADP
ajbmeb-2854	267	18	5	5	NUM
ajbmeb-2854	267	19	%	%	NOUN
ajbmeb-2854	267	20	(	(	PUNCT
ajbmeb-2854	267	21	p=0.004the	p=0.004the	DET
ajbmeb-2854	267	22	effect	effect	NOUN
ajbmeb-2854	267	23	of	of	ADP
ajbmeb-2854	267	24	divpay	divpay	NOUN
ajbmeb-2854	267	25	is	be	AUX
ajbmeb-2854	267	26	positive	positive	ADJ
ajbmeb-2854	267	27	(	(	PUNCT
ajbmeb-2854	267	28	42.639	42.639	NUM
ajbmeb-2854	267	29	)	)	PUNCT
ajbmeb-2854	267	30	and	and	CCONJ
ajbmeb-2854	267	31	statistically	statistically	ADV
ajbmeb-2854	267	32	significant	significant	ADJ
ajbmeb-2854	267	33	(	(	PUNCT
ajbmeb-2854	267	34	p=0.000	p=0.000	NOUN
ajbmeb-2854	267	35	)	)	PUNCT
ajbmeb-2854	267	36	at	at	ADP
ajbmeb-2854	267	37	5	5	NUM
ajbmeb-2854	267	38	%	%	NOUN
ajbmeb-2854	267	39	.	.	PUNCT
ajbmeb-2854	268	1	liq	liq	NOUN
ajbmeb-2854	268	2	has	have	VERB
ajbmeb-2854	268	3	a	a	DET
ajbmeb-2854	268	4	positive	positive	ADJ
ajbmeb-2854	268	5	beta	beta	NOUN
ajbmeb-2854	268	6	(	(	PUNCT
ajbmeb-2854	268	7	0.0666	0.0666	NUM
ajbmeb-2854	268	8	)	)	PUNCT
ajbmeb-2854	268	9	though	though	SCONJ
ajbmeb-2854	268	10	not	not	PART
ajbmeb-2854	268	11	statistically	statistically	ADV
ajbmeb-2854	268	12	significant	significant	ADJ
ajbmeb-2854	268	13	(	(	PUNCT
ajbmeb-2854	268	14	p=0.7958	p=0.7958	PROPN
ajbmeb-2854	268	15	)	)	PUNCT
ajbmeb-2854	268	16	at	at	ADP
ajbmeb-2854	268	17	5	5	NUM
ajbmeb-2854	268	18	%	%	NOUN
ajbmeb-2854	268	19	.	.	PUNCT
ajbmeb-2854	269	1	infl	infl	PROPN
ajbmeb-2854	269	2	has	have	VERB
ajbmeb-2854	269	3	a	a	DET
ajbmeb-2854	269	4	positive	positive	ADJ
ajbmeb-2854	269	5	beta	beta	NOUN
ajbmeb-2854	269	6	(	(	PUNCT
ajbmeb-2854	269	7	0.7194	0.7194	NUM
ajbmeb-2854	269	8	)	)	PUNCT
ajbmeb-2854	269	9	and	and	CCONJ
ajbmeb-2854	269	10	statistically	statistically	ADV
ajbmeb-2854	269	11	significant	significant	ADJ
ajbmeb-2854	269	12	(	(	PUNCT
ajbmeb-2854	269	13	p=0.00	p=0.00	NOUN
ajbmeb-2854	269	14	)	)	PUNCT
ajbmeb-2854	269	15	at	at	ADP
ajbmeb-2854	269	16	5	5	NUM
ajbmeb-2854	269	17	%	%	NOUN
ajbmeb-2854	269	18	.	.	PUNCT
ajbmeb-2854	270	1	heteroskedasticity	heteroskedasticity	NOUN
ajbmeb-2854	270	2	and	and	CCONJ
ajbmeb-2854	270	3	cross	cross	ADJ
ajbmeb-2854	270	4	-	-	ADJ
ajbmeb-2854	270	5	sectional	sectional	ADJ
ajbmeb-2854	270	6	heteroskedasticity	heteroskedasticity	NOUN
ajbmeb-2854	270	7	test	test	NOUN
ajbmeb-2854	270	8	confirm	confirm	VERB
ajbmeb-2854	270	9	that	that	SCONJ
ajbmeb-2854	270	10	the	the	DET
ajbmeb-2854	270	11	estimations	estimation	NOUN
ajbmeb-2854	270	12	were	be	AUX
ajbmeb-2854	270	13	found	find	VERB
ajbmeb-2854	270	14	to	to	PART
ajbmeb-2854	270	15	be	be	AUX
ajbmeb-2854	270	16	free	free	ADJ
ajbmeb-2854	270	17	from	from	ADP
ajbmeb-2854	270	18	such	such	ADJ
ajbmeb-2854	270	19	.	.	PUNCT
ajbmeb-2854	271	1	the	the	DET
ajbmeb-2854	271	2	peseran	peseran	NOUN
ajbmeb-2854	271	3	cross	cross	ADJ
ajbmeb-2854	271	4	-	-	ADJ
ajbmeb-2854	271	5	dependence	dependence	ADJ
ajbmeb-2854	271	6	test	test	NOUN
ajbmeb-2854	271	7	was	be	AUX
ajbmeb-2854	271	8	employed	employ	VERB
ajbmeb-2854	271	9	to	to	PART
ajbmeb-2854	271	10	confirm	confirm	VERB
ajbmeb-2854	271	11	the	the	DET
ajbmeb-2854	271	12	threat	threat	NOUN
ajbmeb-2854	271	13	of	of	ADP
ajbmeb-2854	271	14	the	the	DET
ajbmeb-2854	271	15	serial	serial	ADJ
ajbmeb-2854	271	16	correlation	correlation	NOUN
ajbmeb-2854	271	17	in	in	ADP
ajbmeb-2854	271	18	the	the	DET
ajbmeb-2854	271	19	errors	error	NOUN
ajbmeb-2854	271	20	and	and	CCONJ
ajbmeb-2854	271	21	the	the	DET
ajbmeb-2854	271	22	statistic	statistic	NOUN
ajbmeb-2854	271	23	reveals	reveal	VERB
ajbmeb-2854	271	24	the	the	DET
ajbmeb-2854	271	25	absence	absence	NOUN
ajbmeb-2854	271	26	of	of	ADP
ajbmeb-2854	271	27	crosssection	crosssection	NOUN
ajbmeb-2854	271	28	dependence	dependence	NOUN
ajbmeb-2854	271	29	in	in	ADP
ajbmeb-2854	271	30	the	the	DET
ajbmeb-2854	271	31	residuals	residual	NOUN
ajbmeb-2854	271	32	.	.	PUNCT
ajbmeb-2854	272	1	the	the	DET
ajbmeb-2854	272	2	ramsey	ramsey	PROPN
ajbmeb-2854	272	3	reset	reset	PROPN
ajbmeb-2854	272	4	test	test	NOUN
ajbmeb-2854	272	5	confirms	confirm	VERB
ajbmeb-2854	272	6	that	that	SCONJ
ajbmeb-2854	272	7	the	the	DET
ajbmeb-2854	272	8	model	model	NOUN
ajbmeb-2854	272	9	is	be	AUX
ajbmeb-2854	272	10	correctly	correctly	ADV
ajbmeb-2854	272	11	specified	specify	VERB
ajbmeb-2854	272	12	.	.	PUNCT
ajbmeb-2854	273	1	american	american	ADJ
ajbmeb-2854	273	2	journal	journal	PROPN
ajbmeb-2854	273	3	of	of	ADP
ajbmeb-2854	273	4	business	business	NOUN
ajbmeb-2854	273	5	management	management	NOUN
ajbmeb-2854	273	6	,	,	PUNCT
ajbmeb-2854	273	7	economics	economic	NOUN
ajbmeb-2854	273	8	and	and	CCONJ
ajbmeb-2854	273	9	banking	banking	NOUN
ajbmeb-2854	273	10	volume	volume	NOUN
ajbmeb-2854	273	11	35	35	NUM
ajbmeb-2854	273	12	april	april	PROPN
ajbmeb-2854	273	13	2025	2025	NUM
ajbmeb-2854	273	14	p	p	NOUN
ajbmeb-2854	273	15	a	a	DET
ajbmeb-2854	273	16	g	g	NOUN
ajbmeb-2854	273	17	e	e	NOUN
ajbmeb-2854	273	18	|	|	ADV
ajbmeb-2854	273	19	58	58	NUM
ajbmeb-2854	273	20	www.americanjournal.org	www.americanjournal.org	NOUN
ajbmeb-2854	273	21	summary	summary	NOUN
ajbmeb-2854	273	22	of	of	ADP
ajbmeb-2854	273	23	regression	regression	NOUN
ajbmeb-2854	273	24	result	result	VERB
ajbmeb-2854	273	25	the	the	DET
ajbmeb-2854	273	26	summary	summary	NOUN
ajbmeb-2854	273	27	or	or	CCONJ
ajbmeb-2854	273	28	regression	regression	NOUN
ajbmeb-2854	273	29	results	result	NOUN
ajbmeb-2854	273	30	from	from	ADP
ajbmeb-2854	273	31	table	table	NOUN
ajbmeb-2854	273	32	4	4	NUM
ajbmeb-2854	273	33	,	,	PUNCT
ajbmeb-2854	273	34	5	5	NUM
ajbmeb-2854	273	35	and	and	CCONJ
ajbmeb-2854	273	36	6	6	NUM
ajbmeb-2854	273	37	is	be	AUX
ajbmeb-2854	273	38	presented	present	VERB
ajbmeb-2854	273	39	on	on	ADP
ajbmeb-2854	273	40	7	7	NUM
ajbmeb-2854	273	41	for	for	ADP
ajbmeb-2854	273	42	ease	ease	NOUN
ajbmeb-2854	273	43	of	of	ADP
ajbmeb-2854	273	44	comprehension	comprehension	NOUN
ajbmeb-2854	273	45	and	and	CCONJ
ajbmeb-2854	273	46	application	application	NOUN
ajbmeb-2854	273	47	.	.	PUNCT
ajbmeb-2854	274	1	table	table	NOUN
ajbmeb-2854	274	2	7	7	NUM
ajbmeb-2854	274	3	:	:	PUNCT
ajbmeb-2854	274	4	result	result	VERB
ajbmeb-2854	274	5	summary	summary	NOUN
ajbmeb-2854	274	6	variable	variable	ADJ
ajbmeb-2854	274	7	envr	envr	PROPN
ajbmeb-2854	274	8	model	model	NOUN
ajbmeb-2854	274	9	tobin	tobin	PROPN
ajbmeb-2854	274	10	q	q	PROPN
ajbmeb-2854	274	11	model	model	PROPN
ajbmeb-2854	274	12	peratio	peratio	PROPN
ajbmeb-2854	274	13	model	model	NOUN
ajbmeb-2854	274	14	c	c	PROPN
ajbmeb-2854	274	15	0.9820	0.9820	NUM
ajbmeb-2854	274	16	*	*	PUNCT
ajbmeb-2854	274	17	(	(	PUNCT
ajbmeb-2854	274	18	0.4590	0.4590	NUM
ajbmeb-2854	274	19	)	)	PUNCT
ajbmeb-2854	275	1	[	[	X
ajbmeb-2854	275	2	0.0358	0.0358	NUM
ajbmeb-2854	275	3	]	]	PUNCT
ajbmeb-2854	275	4	3979154	3979154	NUM
ajbmeb-2854	275	5	*	*	SYM
ajbmeb-2854	275	6	(	(	PUNCT
ajbmeb-2854	275	7	177449.9	177449.9	NUM
ajbmeb-2854	275	8	)	)	PUNCT
ajbmeb-2854	276	1	[	[	X
ajbmeb-2854	276	2	0.000	0.000	X
ajbmeb-2854	276	3	]	]	X
ajbmeb-2854	276	4	-52.2849	-52.2849	X
ajbmeb-2854	276	5	*	*	X
ajbmeb-2854	276	6	(	(	PUNCT
ajbmeb-2854	276	7	8.5441	8.5441	NUM
ajbmeb-2854	276	8	)	)	PUNCT
ajbmeb-2854	277	1	[	[	X
ajbmeb-2854	277	2	0.000	0.000	X
ajbmeb-2854	277	3	]	]	X
ajbmeb-2854	277	4	mcp	mcp	PROPN
ajbmeb-2854	277	5	-6.63e+14	-6.63e+14	PROPN
ajbmeb-2854	277	6	(	(	PUNCT
ajbmeb-2854	277	7	4.63e-14	4.63e-14	NUM
ajbmeb-2854	277	8	)	)	PUNCT
ajbmeb-2854	277	9	{	{	PUNCT
ajbmeb-2854	277	10	0.1566	0.1566	NUM
ajbmeb-2854	277	11	}	}	PUNCT
ajbmeb-2854	277	12	3.14e-08	3.14e-08	NUM
ajbmeb-2854	277	13	(	(	PUNCT
ajbmeb-2854	277	14	3.34e-08	3.34e-08	NUM
ajbmeb-2854	277	15	)	)	PUNCT
ajbmeb-2854	277	16	{	{	PUNCT
ajbmeb-2854	277	17	0.3504	0.3504	NUM
ajbmeb-2854	277	18	}	}	PUNCT
ajbmeb-2854	277	19	1.27e-11	1.27e-11	NUM
ajbmeb-2854	277	20	*	*	SYM
ajbmeb-2854	277	21	(	(	PUNCT
ajbmeb-2854	277	22	4.28e-08	4.28e-08	NOUN
ajbmeb-2854	277	23	)	)	PUNCT
ajbmeb-2854	277	24	{	{	PUNCT
ajbmeb-2854	277	25	0.0040	0.0040	NUM
ajbmeb-2854	277	26	}	}	PUNCT
ajbmeb-2854	277	27	divpay	divpay	NOUN
ajbmeb-2854	277	28	-0.0009	-0.0009	PROPN
ajbmeb-2854	277	29	*	*	PUNCT
ajbmeb-2854	277	30	(	(	PUNCT
ajbmeb-2854	277	31	0.0002	0.0002	NUM
ajbmeb-2854	277	32	)	)	PUNCT
ajbmeb-2854	277	33	{	{	PUNCT
ajbmeb-2854	277	34	0.000	0.000	NOUN
ajbmeb-2854	277	35	}	}	SYM
ajbmeb-2854	277	36	276.5317	276.5317	NUM
ajbmeb-2854	277	37	(	(	PUNCT
ajbmeb-2854	277	38	78.7190	78.7190	NUM
ajbmeb-2854	277	39	)	)	PUNCT
ajbmeb-2854	277	40	{	{	PUNCT
ajbmeb-2854	277	41	0.000	0.000	NOUN
ajbmeb-2854	277	42	}	}	PUNCT
ajbmeb-2854	277	43	42.639	42.639	NUM
ajbmeb-2854	277	44	*	*	PUNCT
ajbmeb-2854	277	45	(	(	PUNCT
ajbmeb-2854	277	46	0.0229	0.0229	NUM
ajbmeb-2854	277	47	)	)	PUNCT
ajbmeb-2854	277	48	{	{	PUNCT
ajbmeb-2854	277	49	0.000	0.000	NUM
ajbmeb-2854	277	50	}	}	PUNCT
ajbmeb-2854	277	51	infl	infl	PROPN
ajbmeb-2854	277	52	-0.00209	-0.00209	NOUN
ajbmeb-2854	277	53	*	*	PROPN
ajbmeb-2854	277	54	*	*	PUNCT
ajbmeb-2854	277	55	(	(	PUNCT
ajbmeb-2854	277	56	0.0012	0.0012	NUM
ajbmeb-2854	277	57	)	)	PUNCT
ajbmeb-2854	277	58	{	{	PUNCT
ajbmeb-2854	277	59	0.0972	0.0972	NUM
ajbmeb-2854	277	60	}	}	PUNCT
ajbmeb-2854	277	61	6948.854	6948.854	NUM
ajbmeb-2854	277	62	*	*	SYM
ajbmeb-2854	277	63	(	(	PUNCT
ajbmeb-2854	277	64	1519.7	1519.7	NUM
ajbmeb-2854	277	65	)	)	PUNCT
ajbmeb-2854	277	66	{	{	PUNCT
ajbmeb-2854	277	67	0.000	0.000	NOUN
ajbmeb-2854	277	68	}	}	PUNCT
ajbmeb-2854	277	69	0.7194	0.7194	NUM
ajbmeb-2854	277	70	*	*	PUNCT
ajbmeb-2854	277	71	(	(	PUNCT
ajbmeb-2854	277	72	0.2315	0.2315	NUM
ajbmeb-2854	277	73	)	)	PUNCT
ajbmeb-2854	277	74	{	{	PUNCT
ajbmeb-2854	277	75	0.0027	0.0027	NUM
ajbmeb-2854	277	76	}	}	PUNCT
ajbmeb-2854	277	77	the	the	DET
ajbmeb-2854	277	78	summary	summary	NOUN
ajbmeb-2854	277	79	of	of	ADP
ajbmeb-2854	277	80	the	the	DET
ajbmeb-2854	277	81	results	result	NOUN
ajbmeb-2854	277	82	reveals	reveal	VERB
ajbmeb-2854	277	83	that	that	SCONJ
ajbmeb-2854	277	84	looking	look	VERB
ajbmeb-2854	277	85	at	at	ADP
ajbmeb-2854	277	86	the	the	DET
ajbmeb-2854	277	87	proxies	proxy	NOUN
ajbmeb-2854	277	88	for	for	ADP
ajbmeb-2854	277	89	market	market	NOUN
ajbmeb-2854	277	90	value	value	NOUN
ajbmeb-2854	277	91	;	;	PUNCT
ajbmeb-2854	277	92	envr	envr	PROPN
ajbmeb-2854	277	93	,	,	PUNCT
ajbmeb-2854	277	94	tobin	tobin	PROPN
ajbmeb-2854	277	95	q	q	PROPN
ajbmeb-2854	277	96	and	and	CCONJ
ajbmeb-2854	277	97	peratio	peratio	PROPN
ajbmeb-2854	277	98	,	,	PUNCT
ajbmeb-2854	277	99	the	the	DET
ajbmeb-2854	277	100	estimation	estimation	NOUN
ajbmeb-2854	277	101	shows	show	VERB
ajbmeb-2854	277	102	that	that	SCONJ
ajbmeb-2854	277	103	mcp	mcp	PROPN
ajbmeb-2854	277	104	is	be	AUX
ajbmeb-2854	277	105	a	a	DET
ajbmeb-2854	277	106	significant	significant	ADJ
ajbmeb-2854	277	107	predictor	predictor	NOUN
ajbmeb-2854	277	108	of	of	ADP
ajbmeb-2854	277	109	peratio	peratio	NOUN
ajbmeb-2854	277	110	at	at	ADP
ajbmeb-2854	277	111	5	5	NUM
ajbmeb-2854	277	112	%	%	NOUN
ajbmeb-2854	277	113	,	,	PUNCT
ajbmeb-2854	277	114	divpay	divpay	PROPN
ajbmeb-2854	277	115	shows	show	VERB
ajbmeb-2854	277	116	up	up	ADP
ajbmeb-2854	277	117	as	as	ADP
ajbmeb-2854	277	118	a	a	DET
ajbmeb-2854	277	119	significant	significant	ADJ
ajbmeb-2854	277	120	predictor	predictor	NOUN
ajbmeb-2854	277	121	of	of	ADP
ajbmeb-2854	277	122	both	both	CCONJ
ajbmeb-2854	277	123	peratio	peratio	NOUN
ajbmeb-2854	277	124	and	and	CCONJ
ajbmeb-2854	277	125	tobinq	tobinq	ADJ
ajbmeb-2854	277	126	at	at	ADP
ajbmeb-2854	277	127	both	both	DET
ajbmeb-2854	277	128	5	5	NUM
ajbmeb-2854	277	129	%	%	NOUN
ajbmeb-2854	277	130	significant	significant	ADJ
ajbmeb-2854	277	131	level	level	NOUN
ajbmeb-2854	277	132	..	..	PUNCT
ajbmeb-2854	278	1	infl	infl	PROPN
ajbmeb-2854	278	2	is	be	AUX
ajbmeb-2854	278	3	observed	observe	VERB
ajbmeb-2854	278	4	to	to	PART
ajbmeb-2854	278	5	be	be	AUX
ajbmeb-2854	278	6	a	a	DET
ajbmeb-2854	278	7	significant	significant	ADJ
ajbmeb-2854	278	8	determinant	determinant	NOUN
ajbmeb-2854	278	9	of	of	ADP
ajbmeb-2854	278	10	tobin	tobin	PROPN
ajbmeb-2854	278	11	q	q	PROPN
ajbmeb-2854	278	12	and	and	CCONJ
ajbmeb-2854	278	13	peratio	peratio	VERB
ajbmeb-2854	278	14	all	all	PRON
ajbmeb-2854	278	15	at	at	ADP
ajbmeb-2854	278	16	5	5	NUM
ajbmeb-2854	278	17	%	%	NOUN
ajbmeb-2854	278	18	significant	significant	ADJ
ajbmeb-2854	278	19	level	level	NOUN
ajbmeb-2854	278	20	and	and	CCONJ
ajbmeb-2854	278	21	peratio	peratio	NOUN
ajbmeb-2854	278	22	at	at	ADP
ajbmeb-2854	278	23	10	10	NUM
ajbmeb-2854	278	24	%	%	NOUN
ajbmeb-2854	278	25	level	level	NOUN
ajbmeb-2854	278	26	.	.	PUNCT
ajbmeb-2854	279	1	test	test	NOUN
ajbmeb-2854	279	2	of	of	ADP
ajbmeb-2854	279	3	hypotheses	hypothesis	NOUN
ajbmeb-2854	279	4	ho1	ho1	VERB
ajbmeb-2854	279	5	:	:	PUNCT
ajbmeb-2854	279	6	there	there	PRON
ajbmeb-2854	279	7	is	be	VERB
ajbmeb-2854	279	8	no	no	DET
ajbmeb-2854	279	9	significant	significant	ADJ
ajbmeb-2854	279	10	relationship	relationship	NOUN
ajbmeb-2854	279	11	between	between	ADP
ajbmeb-2854	279	12	market	market	NOUN
ajbmeb-2854	279	13	capitalization	capitalization	NOUN
ajbmeb-2854	279	14	and	and	CCONJ
ajbmeb-2854	279	15	tobin	tobin	PROPN
ajbmeb-2854	279	16	q.	q.	PROPN
ajbmeb-2854	279	17	based	base	VERB
ajbmeb-2854	279	18	on	on	ADP
ajbmeb-2854	279	19	table	table	NOUN
ajbmeb-2854	279	20	5	5	NUM
ajbmeb-2854	279	21	with	with	ADP
ajbmeb-2854	279	22	positive	positive	ADJ
ajbmeb-2854	279	23	co	co	NOUN
ajbmeb-2854	279	24	-	-	ADJ
ajbmeb-2854	279	25	efficient	efficient	ADJ
ajbmeb-2854	279	26	of	of	ADP
ajbmeb-2854	279	27	3.14e-08	3.14e-08	NUM
ajbmeb-2854	279	28	and	and	CCONJ
ajbmeb-2854	279	29	p	p	NOUN
ajbmeb-2854	279	30	-	-	PUNCT
ajbmeb-2854	279	31	value	value	NOUN
ajbmeb-2854	279	32	of	of	ADP
ajbmeb-2854	279	33	0.3504	0.3504	NUM
ajbmeb-2854	279	34	>	>	X
ajbmeb-2854	279	35	0.05	0.05	NUM
ajbmeb-2854	279	36	indicating	indicate	VERB
ajbmeb-2854	279	37	a	a	DET
ajbmeb-2854	279	38	positive	positive	ADJ
ajbmeb-2854	279	39	insignificant	insignificant	ADJ
ajbmeb-2854	279	40	relationship	relationship	NOUN
ajbmeb-2854	279	41	of	of	ADP
ajbmeb-2854	279	42	market	market	NOUN
ajbmeb-2854	279	43	capitalization	capitalization	NOUN
ajbmeb-2854	279	44	with	with	ADP
ajbmeb-2854	279	45	tobin	tobin	PROPN
ajbmeb-2854	279	46	q.	q.	PROPN
ajbmeb-2854	279	47	based	base	VERB
ajbmeb-2854	279	48	on	on	ADP
ajbmeb-2854	279	49	result	result	NOUN
ajbmeb-2854	279	50	we	we	PRON
ajbmeb-2854	279	51	accept	accept	VERB
ajbmeb-2854	279	52	the	the	DET
ajbmeb-2854	279	53	hypothesis	hypothesis	NOUN
ajbmeb-2854	279	54	that	that	SCONJ
ajbmeb-2854	279	55	there	there	PRON
ajbmeb-2854	279	56	is	be	VERB
ajbmeb-2854	279	57	no	no	DET
ajbmeb-2854	279	58	significant	significant	ADJ
ajbmeb-2854	279	59	relationship	relationship	NOUN
ajbmeb-2854	279	60	between	between	ADP
ajbmeb-2854	279	61	mcp	mcp	PROPN
ajbmeb-2854	279	62	and	and	CCONJ
ajbmeb-2854	279	63	tobin	tobin	PROPN
ajbmeb-2854	279	64	q	q	PROPN
ajbmeb-2854	279	65	ho2	ho2	PROPN
ajbmeb-2854	279	66	:	:	PUNCT
ajbmeb-2854	279	67	there	there	PRON
ajbmeb-2854	279	68	is	be	VERB
ajbmeb-2854	279	69	no	no	DET
ajbmeb-2854	279	70	significant	significant	ADJ
ajbmeb-2854	279	71	relationship	relationship	NOUN
ajbmeb-2854	279	72	between	between	ADP
ajbmeb-2854	279	73	dividend	dividend	NOUN
ajbmeb-2854	279	74	and	and	CCONJ
ajbmeb-2854	279	75	tobin	tobin	PROPN
ajbmeb-2854	279	76	q.	q.	PROPN
ajbmeb-2854	279	77	based	base	VERB
ajbmeb-2854	279	78	on	on	ADP
ajbmeb-2854	279	79	table	table	NOUN
ajbmeb-2854	279	80	5	5	NUM
ajbmeb-2854	279	81	with	with	ADP
ajbmeb-2854	279	82	positive	positive	ADJ
ajbmeb-2854	279	83	co	co	NOUN
ajbmeb-2854	279	84	-	-	ADJ
ajbmeb-2854	279	85	efficient	efficient	ADJ
ajbmeb-2854	279	86	of	of	ADP
ajbmeb-2854	279	87	276.5317	276.5317	NUM
ajbmeb-2854	279	88	and	and	CCONJ
ajbmeb-2854	279	89	p	p	NOUN
ajbmeb-2854	279	90	-	-	PUNCT
ajbmeb-2854	279	91	value	value	NOUN
ajbmeb-2854	279	92	of	of	ADP
ajbmeb-2854	279	93	0.0000	0.0000	NUM
ajbmeb-2854	279	94	<	<	X
ajbmeb-2854	279	95	0.05	0.05	NUM
ajbmeb-2854	279	96	indicating	indicate	VERB
ajbmeb-2854	279	97	a	a	DET
ajbmeb-2854	279	98	positive	positive	ADJ
ajbmeb-2854	279	99	significant	significant	ADJ
ajbmeb-2854	279	100	relationship	relationship	NOUN
ajbmeb-2854	279	101	of	of	ADP
ajbmeb-2854	279	102	profitability	profitability	NOUN
ajbmeb-2854	279	103	with	with	ADP
ajbmeb-2854	279	104	tobin	tobin	PROPN
ajbmeb-2854	279	105	q.	q.	PROPN
ajbmeb-2854	279	106	based	base	VERB
ajbmeb-2854	279	107	on	on	ADP
ajbmeb-2854	279	108	result	result	NOUN
ajbmeb-2854	279	109	we	we	PRON
ajbmeb-2854	279	110	reject	reject	VERB
ajbmeb-2854	279	111	the	the	DET
ajbmeb-2854	279	112	hypothesis	hypothesis	NOUN
ajbmeb-2854	279	113	that	that	SCONJ
ajbmeb-2854	279	114	there	there	PRON
ajbmeb-2854	279	115	is	be	VERB
ajbmeb-2854	279	116	no	no	DET
ajbmeb-2854	279	117	significant	significant	ADJ
ajbmeb-2854	279	118	relationship	relationship	NOUN
ajbmeb-2854	279	119	between	between	ADP
ajbmeb-2854	279	120	profitability	profitability	NOUN
ajbmeb-2854	279	121	and	and	CCONJ
ajbmeb-2854	279	122	tobin	tobin	PROPN
ajbmeb-2854	279	123	q	q	NOUN
ajbmeb-2854	279	124	ho3	ho3	NOUN
ajbmeb-2854	279	125	:	:	PUNCT
ajbmeb-2854	279	126	there	there	PRON
ajbmeb-2854	279	127	is	be	VERB
ajbmeb-2854	279	128	no	no	DET
ajbmeb-2854	279	129	significant	significant	ADJ
ajbmeb-2854	279	130	relationship	relationship	NOUN
ajbmeb-2854	279	131	between	between	ADP
ajbmeb-2854	279	132	market	market	NOUN
ajbmeb-2854	279	133	capitalization	capitalization	NOUN
ajbmeb-2854	279	134	and	and	CCONJ
ajbmeb-2854	279	135	price	price	NOUN
ajbmeb-2854	279	136	earnings	earning	NOUN
ajbmeb-2854	279	137	ratio	ratio	NOUN
ajbmeb-2854	279	138	based	base	VERB
ajbmeb-2854	279	139	on	on	ADP
ajbmeb-2854	279	140	table	table	NOUN
ajbmeb-2854	279	141	6	6	NUM
ajbmeb-2854	279	142	with	with	ADP
ajbmeb-2854	279	143	positive	positive	ADJ
ajbmeb-2854	279	144	co	co	NOUN
ajbmeb-2854	279	145	-	-	ADJ
ajbmeb-2854	279	146	efficient	efficient	ADJ
ajbmeb-2854	279	147	of	of	ADP
ajbmeb-2854	279	148	1.27e-11	1.27e-11	NUM
ajbmeb-2854	279	149	and	and	CCONJ
ajbmeb-2854	279	150	p	p	NOUN
ajbmeb-2854	279	151	-	-	PUNCT
ajbmeb-2854	279	152	value	value	NOUN
ajbmeb-2854	279	153	of	of	ADP
ajbmeb-2854	279	154	0.0040<0.05	0.0040<0.05	NOUN
ajbmeb-2854	279	155	0.05	0.05	NUM
ajbmeb-2854	279	156	indicating	indicate	VERB
ajbmeb-2854	279	157	a	a	DET
ajbmeb-2854	279	158	positive	positive	ADJ
ajbmeb-2854	279	159	significant	significant	ADJ
ajbmeb-2854	279	160	relationship	relationship	NOUN
ajbmeb-2854	279	161	of	of	ADP
ajbmeb-2854	279	162	market	market	NOUN
ajbmeb-2854	279	163	capitalization	capitalization	NOUN
ajbmeb-2854	279	164	with	with	ADP
ajbmeb-2854	279	165	price	price	NOUN
ajbmeb-2854	279	166	earnings	earning	NOUN
ajbmeb-2854	279	167	ratio	ratio	NOUN
ajbmeb-2854	279	168	.	.	PUNCT
ajbmeb-2854	280	1	based	base	VERB
ajbmeb-2854	280	2	on	on	ADP
ajbmeb-2854	280	3	result	result	NOUN
ajbmeb-2854	280	4	we	we	PRON
ajbmeb-2854	280	5	reject	reject	VERB
ajbmeb-2854	280	6	the	the	DET
ajbmeb-2854	280	7	hypothesis	hypothesis	NOUN
ajbmeb-2854	280	8	that	that	SCONJ
ajbmeb-2854	280	9	there	there	PRON
ajbmeb-2854	280	10	is	be	VERB
ajbmeb-2854	280	11	no	no	DET
ajbmeb-2854	280	12	significant	significant	ADJ
ajbmeb-2854	280	13	relationship	relationship	NOUN
ajbmeb-2854	280	14	between	between	ADP
ajbmeb-2854	280	15	mcp	mcp	PROPN
ajbmeb-2854	280	16	and	and	CCONJ
ajbmeb-2854	280	17	price	price	NOUN
ajbmeb-2854	280	18	earnings	earning	NOUN
ajbmeb-2854	280	19	ratio	ratio	NOUN
ajbmeb-2854	280	20	.	.	PUNCT
ajbmeb-2854	281	1	american	american	PROPN
ajbmeb-2854	281	2	journal	journal	PROPN
ajbmeb-2854	281	3	of	of	ADP
ajbmeb-2854	281	4	business	business	NOUN
ajbmeb-2854	281	5	management	management	NOUN
ajbmeb-2854	281	6	,	,	PUNCT
ajbmeb-2854	281	7	economics	economic	NOUN
ajbmeb-2854	281	8	and	and	CCONJ
ajbmeb-2854	281	9	banking	banking	NOUN
ajbmeb-2854	281	10	volume	volume	NOUN
ajbmeb-2854	281	11	35	35	NUM
ajbmeb-2854	281	12	april	april	PROPN
ajbmeb-2854	281	13	2025	2025	NUM
ajbmeb-2854	281	14	p	p	NOUN
ajbmeb-2854	281	15	a	a	DET
ajbmeb-2854	281	16	g	g	NOUN
ajbmeb-2854	281	17	e	e	NOUN
ajbmeb-2854	281	18	|	|	ADV
ajbmeb-2854	281	19	59	59	NUM
ajbmeb-2854	281	20	www.americanjournal.org	www.americanjournal.org	PROPN
ajbmeb-2854	281	21	ho4	ho4	NOUN
ajbmeb-2854	281	22	:	:	PUNCT
ajbmeb-2854	281	23	there	there	PRON
ajbmeb-2854	281	24	is	be	VERB
ajbmeb-2854	281	25	no	no	DET
ajbmeb-2854	281	26	significant	significant	ADJ
ajbmeb-2854	281	27	relationship	relationship	NOUN
ajbmeb-2854	281	28	between	between	ADP
ajbmeb-2854	281	29	dividend	dividend	NOUN
ajbmeb-2854	281	30	and	and	CCONJ
ajbmeb-2854	281	31	price	price	NOUN
ajbmeb-2854	281	32	earnings	earning	NOUN
ajbmeb-2854	281	33	ratio	ratio	NOUN
ajbmeb-2854	281	34	.	.	PUNCT
ajbmeb-2854	282	1	based	base	VERB
ajbmeb-2854	282	2	on	on	ADP
ajbmeb-2854	282	3	table	table	NOUN
ajbmeb-2854	282	4	6	6	NUM
ajbmeb-2854	282	5	with	with	ADP
ajbmeb-2854	282	6	positive	positive	ADJ
ajbmeb-2854	282	7	co	co	NOUN
ajbmeb-2854	282	8	-	-	ADJ
ajbmeb-2854	282	9	efficient	efficient	ADJ
ajbmeb-2854	282	10	of	of	ADP
ajbmeb-2854	282	11	42.639	42.639	NUM
ajbmeb-2854	282	12	and	and	CCONJ
ajbmeb-2854	282	13	p	p	NOUN
ajbmeb-2854	282	14	-	-	PUNCT
ajbmeb-2854	282	15	value	value	NOUN
ajbmeb-2854	282	16	of	of	ADP
ajbmeb-2854	282	17	0.0000	0.0000	NUM
ajbmeb-2854	282	18	<	<	X
ajbmeb-2854	282	19	0.05	0.05	NUM
ajbmeb-2854	282	20	indicating	indicate	VERB
ajbmeb-2854	282	21	a	a	DET
ajbmeb-2854	282	22	positive	positive	ADJ
ajbmeb-2854	282	23	significant	significant	ADJ
ajbmeb-2854	282	24	relationship	relationship	NOUN
ajbmeb-2854	282	25	of	of	ADP
ajbmeb-2854	282	26	dividend	dividend	NOUN
ajbmeb-2854	282	27	with	with	ADP
ajbmeb-2854	282	28	price	price	NOUN
ajbmeb-2854	282	29	earnings	earning	NOUN
ajbmeb-2854	282	30	ratio	ratio	NOUN
ajbmeb-2854	282	31	.	.	PUNCT
ajbmeb-2854	283	1	based	base	VERB
ajbmeb-2854	283	2	on	on	ADP
ajbmeb-2854	283	3	result	result	NOUN
ajbmeb-2854	283	4	we	we	PRON
ajbmeb-2854	283	5	reject	reject	VERB
ajbmeb-2854	283	6	the	the	DET
ajbmeb-2854	283	7	hypothesis	hypothesis	NOUN
ajbmeb-2854	283	8	that	that	SCONJ
ajbmeb-2854	283	9	there	there	PRON
ajbmeb-2854	283	10	is	be	VERB
ajbmeb-2854	283	11	no	no	DET
ajbmeb-2854	283	12	significant	significant	ADJ
ajbmeb-2854	283	13	relationship	relationship	NOUN
ajbmeb-2854	283	14	between	between	ADP
ajbmeb-2854	283	15	dividend	dividend	NOUN
ajbmeb-2854	283	16	and	and	CCONJ
ajbmeb-2854	283	17	price	price	NOUN
ajbmeb-2854	283	18	earnings	earning	NOUN
ajbmeb-2854	283	19	ratio	ratio	NOUN
ajbmeb-2854	283	20	.	.	PUNCT
ajbmeb-2854	284	1	ho5	ho5	NOUN
ajbmeb-2854	284	2	:	:	PUNCT
ajbmeb-2854	284	3	there	there	PRON
ajbmeb-2854	284	4	is	be	VERB
ajbmeb-2854	284	5	no	no	DET
ajbmeb-2854	284	6	significant	significant	ADJ
ajbmeb-2854	284	7	relationship	relationship	NOUN
ajbmeb-2854	284	8	between	between	ADP
ajbmeb-2854	284	9	market	market	NOUN
ajbmeb-2854	284	10	capitalization	capitalization	NOUN
ajbmeb-2854	284	11	and	and	CCONJ
ajbmeb-2854	284	12	enterprise	enterprise	NOUN
ajbmeb-2854	284	13	value	value	NOUN
ajbmeb-2854	284	14	.	.	PUNCT
ajbmeb-2854	285	1	based	base	VERB
ajbmeb-2854	285	2	on	on	ADP
ajbmeb-2854	285	3	table	table	NOUN
ajbmeb-2854	285	4	7	7	NUM
ajbmeb-2854	285	5	with	with	ADP
ajbmeb-2854	285	6	negative	negative	ADJ
ajbmeb-2854	285	7	co	co	NOUN
ajbmeb-2854	285	8	-	-	ADJ
ajbmeb-2854	285	9	efficient	efficient	ADJ
ajbmeb-2854	285	10	of	of	ADP
ajbmeb-2854	285	11	-6.63e+14	-6.63e+14	NOUN
ajbmeb-2854	285	12	and	and	CCONJ
ajbmeb-2854	285	13	p	p	NOUN
ajbmeb-2854	285	14	-	-	PUNCT
ajbmeb-2854	285	15	value	value	NOUN
ajbmeb-2854	285	16	of	of	ADP
ajbmeb-2854	285	17	0.1566>0.05	0.1566>0.05	NOUN
ajbmeb-2854	285	18	indicating	indicate	VERB
ajbmeb-2854	285	19	a	a	DET
ajbmeb-2854	285	20	negative	negative	ADJ
ajbmeb-2854	285	21	insignificant	insignificant	ADJ
ajbmeb-2854	285	22	relationship	relationship	NOUN
ajbmeb-2854	285	23	of	of	ADP
ajbmeb-2854	285	24	market	market	NOUN
ajbmeb-2854	285	25	capitalization	capitalization	NOUN
ajbmeb-2854	285	26	with	with	ADP
ajbmeb-2854	285	27	enterprise	enterprise	NOUN
ajbmeb-2854	285	28	value	value	NOUN
ajbmeb-2854	285	29	.	.	PUNCT
ajbmeb-2854	286	1	based	base	VERB
ajbmeb-2854	286	2	on	on	ADP
ajbmeb-2854	286	3	result	result	NOUN
ajbmeb-2854	286	4	we	we	PRON
ajbmeb-2854	286	5	accept	accept	VERB
ajbmeb-2854	286	6	the	the	DET
ajbmeb-2854	286	7	hypothesis	hypothesis	NOUN
ajbmeb-2854	286	8	that	that	SCONJ
ajbmeb-2854	286	9	there	there	PRON
ajbmeb-2854	286	10	is	be	VERB
ajbmeb-2854	286	11	no	no	DET
ajbmeb-2854	286	12	significant	significant	ADJ
ajbmeb-2854	286	13	relationship	relationship	NOUN
ajbmeb-2854	286	14	between	between	ADP
ajbmeb-2854	286	15	market	market	NOUN
ajbmeb-2854	286	16	capitalization	capitalization	NOUN
ajbmeb-2854	286	17	and	and	CCONJ
ajbmeb-2854	286	18	enterprise	enterprise	NOUN
ajbmeb-2854	286	19	ho6	ho6	ADV
ajbmeb-2854	286	20	:	:	PUNCT
ajbmeb-2854	286	21	there	there	PRON
ajbmeb-2854	286	22	is	be	VERB
ajbmeb-2854	286	23	no	no	DET
ajbmeb-2854	286	24	significant	significant	ADJ
ajbmeb-2854	286	25	relationship	relationship	NOUN
ajbmeb-2854	286	26	between	between	ADP
ajbmeb-2854	286	27	dividend	dividend	NOUN
ajbmeb-2854	286	28	and	and	CCONJ
ajbmeb-2854	286	29	enterprise	enterprise	NOUN
ajbmeb-2854	286	30	value	value	NOUN
ajbmeb-2854	286	31	.	.	PUNCT
ajbmeb-2854	287	1	based	base	VERB
ajbmeb-2854	287	2	on	on	ADP
ajbmeb-2854	287	3	table	table	NOUN
ajbmeb-2854	287	4	7	7	NUM
ajbmeb-2854	287	5	with	with	ADP
ajbmeb-2854	287	6	negative	negative	ADJ
ajbmeb-2854	287	7	co	co	NOUN
ajbmeb-2854	287	8	-	-	ADJ
ajbmeb-2854	287	9	efficient	efficient	ADJ
ajbmeb-2854	287	10	of	of	ADP
ajbmeb-2854	287	11	-0.0009	-0.0009	PROPN
ajbmeb-2854	287	12	and	and	CCONJ
ajbmeb-2854	287	13	p	p	NOUN
ajbmeb-2854	287	14	-	-	PUNCT
ajbmeb-2854	287	15	value	value	NOUN
ajbmeb-2854	287	16	of	of	ADP
ajbmeb-2854	287	17	0.0000	0.0000	NUM
ajbmeb-2854	287	18	<	<	X
ajbmeb-2854	287	19	0.05	0.05	NUM
ajbmeb-2854	287	20	indicating	indicate	VERB
ajbmeb-2854	287	21	a	a	DET
ajbmeb-2854	287	22	negative	negative	ADJ
ajbmeb-2854	287	23	significant	significant	ADJ
ajbmeb-2854	287	24	relationship	relationship	NOUN
ajbmeb-2854	287	25	of	of	ADP
ajbmeb-2854	287	26	dividend	dividend	NOUN
ajbmeb-2854	287	27	with	with	ADP
ajbmeb-2854	287	28	enterprise	enterprise	NOUN
ajbmeb-2854	287	29	value	value	NOUN
ajbmeb-2854	287	30	.	.	PUNCT
ajbmeb-2854	288	1	based	base	VERB
ajbmeb-2854	288	2	on	on	ADP
ajbmeb-2854	288	3	result	result	NOUN
ajbmeb-2854	288	4	we	we	PRON
ajbmeb-2854	288	5	reject	reject	VERB
ajbmeb-2854	288	6	the	the	DET
ajbmeb-2854	288	7	hypothesis	hypothesis	NOUN
ajbmeb-2854	288	8	that	that	SCONJ
ajbmeb-2854	288	9	there	there	PRON
ajbmeb-2854	288	10	is	be	VERB
ajbmeb-2854	288	11	no	no	DET
ajbmeb-2854	288	12	significant	significant	ADJ
ajbmeb-2854	288	13	relationship	relationship	NOUN
ajbmeb-2854	288	14	between	between	ADP
ajbmeb-2854	288	15	dividend	dividend	NOUN
ajbmeb-2854	288	16	and	and	CCONJ
ajbmeb-2854	288	17	enterprise	enterprise	NOUN
ajbmeb-2854	288	18	value	value	NOUN
ajbmeb-2854	288	19	discussion	discussion	NOUN
ajbmeb-2854	288	20	of	of	ADP
ajbmeb-2854	288	21	findings	finding	NOUN
ajbmeb-2854	288	22	the	the	DET
ajbmeb-2854	288	23	objective	objective	NOUN
ajbmeb-2854	288	24	of	of	ADP
ajbmeb-2854	288	25	the	the	DET
ajbmeb-2854	288	26	study	study	NOUN
ajbmeb-2854	288	27	was	be	AUX
ajbmeb-2854	288	28	to	to	PART
ajbmeb-2854	288	29	ascertain	ascertain	VERB
ajbmeb-2854	288	30	the	the	DET
ajbmeb-2854	288	31	nature	nature	NOUN
ajbmeb-2854	288	32	of	of	ADP
ajbmeb-2854	288	33	relationship	relationship	NOUN
ajbmeb-2854	288	34	between	between	ADP
ajbmeb-2854	288	35	,	,	PUNCT
ajbmeb-2854	288	36	market	market	NOUN
ajbmeb-2854	288	37	capitalization	capitalization	NOUN
ajbmeb-2854	288	38	,	,	PUNCT
ajbmeb-2854	288	39	and	and	CCONJ
ajbmeb-2854	288	40	dividend	dividend	NOUN
ajbmeb-2854	288	41	and	and	CCONJ
ajbmeb-2854	288	42	market	market	NOUN
ajbmeb-2854	288	43	value	value	NOUN
ajbmeb-2854	288	44	measured	measure	VERB
ajbmeb-2854	288	45	by	by	ADP
ajbmeb-2854	288	46	tobin	tobin	PROPN
ajbmeb-2854	288	47	q	q	PROPN
ajbmeb-2854	288	48	,	,	PUNCT
ajbmeb-2854	288	49	price	price	NOUN
ajbmeb-2854	288	50	earnings	earning	NOUN
ajbmeb-2854	288	51	ratio	ratio	NOUN
ajbmeb-2854	288	52	and	and	CCONJ
ajbmeb-2854	288	53	enterprise	enterprise	NOUN
ajbmeb-2854	288	54	value	value	NOUN
ajbmeb-2854	288	55	multiple	multiple	NOUN
ajbmeb-2854	288	56	.	.	PUNCT
ajbmeb-2854	289	1	the	the	DET
ajbmeb-2854	289	2	study	study	NOUN
ajbmeb-2854	289	3	found	find	VERB
ajbmeb-2854	289	4	a	a	DET
ajbmeb-2854	289	5	positive	positive	ADJ
ajbmeb-2854	289	6	significant	significant	ADJ
ajbmeb-2854	289	7	relationship	relationship	NOUN
ajbmeb-2854	289	8	of	of	ADP
ajbmeb-2854	289	9	dividend	dividend	NOUN
ajbmeb-2854	289	10	with	with	ADP
ajbmeb-2854	289	11	tobin	tobin	PROPN
ajbmeb-2854	289	12	q	q	PROPN
ajbmeb-2854	289	13	implying	imply	VERB
ajbmeb-2854	289	14	that	that	SCONJ
ajbmeb-2854	289	15	increases	increase	NOUN
ajbmeb-2854	289	16	in	in	ADP
ajbmeb-2854	289	17	firm	firm	ADJ
ajbmeb-2854	289	18	dividend	dividend	NOUN
ajbmeb-2854	289	19	increases	increase	VERB
ajbmeb-2854	289	20	tobin	tobin	PROPN
ajbmeb-2854	289	21	q.	q.	PROPN
ajbmeb-2854	289	22	michaely	michaely	ADV
ajbmeb-2854	289	23	and	and	CCONJ
ajbmeb-2854	289	24	roberts	roberts	PROPN
ajbmeb-2854	289	25	(	(	PUNCT
ajbmeb-2854	289	26	2007	2007	NUM
ajbmeb-2854	289	27	)	)	PUNCT
ajbmeb-2854	289	28	dividend	dividend	NOUN
ajbmeb-2854	289	29	positively	positively	ADV
ajbmeb-2854	289	30	impact	impact	NOUN
ajbmeb-2854	289	31	firm	firm	ADJ
ajbmeb-2854	289	32	value	value	NOUN
ajbmeb-2854	289	33	.	.	PUNCT
ajbmeb-2854	290	1	sharma	sharma	PROPN
ajbmeb-2854	290	2	and	and	CCONJ
ajbmeb-2854	290	3	singh	singh	PROPN
ajbmeb-2854	290	4	(	(	PUNCT
ajbmeb-2854	290	5	2006	2006	NUM
ajbmeb-2854	290	6	)	)	PUNCT
ajbmeb-2854	290	7	found	find	VERB
ajbmeb-2854	290	8	that	that	SCONJ
ajbmeb-2854	290	9	dividend	dividend	NOUN
ajbmeb-2854	290	10	payout	payout	NOUN
ajbmeb-2854	290	11	is	be	AUX
ajbmeb-2854	290	12	a	a	DET
ajbmeb-2854	290	13	determinant	determinant	NOUN
ajbmeb-2854	290	14	of	of	ADP
ajbmeb-2854	290	15	firm	firm	ADJ
ajbmeb-2854	290	16	value	value	NOUN
ajbmeb-2854	290	17	.	.	PUNCT
ajbmeb-2854	291	1	samuel	samuel	PROPN
ajbmeb-2854	291	2	et	et	PROPN
ajbmeb-2854	291	3	.	.	PUNCT
ajbmeb-2854	292	1	al	al	PROPN
ajbmeb-2854	292	2	.	.	PROPN
ajbmeb-2854	293	1	(	(	PUNCT
ajbmeb-2854	293	2	2013	2013	NUM
ajbmeb-2854	293	3	)	)	PUNCT
ajbmeb-2854	293	4	found	find	VERB
ajbmeb-2854	293	5	significant	significant	ADJ
ajbmeb-2854	293	6	positive	positive	ADJ
ajbmeb-2854	293	7	correlation	correlation	NOUN
ajbmeb-2854	293	8	between	between	ADP
ajbmeb-2854	293	9	market	market	NOUN
ajbmeb-2854	293	10	share	share	NOUN
ajbmeb-2854	293	11	value	value	NOUN
ajbmeb-2854	293	12	and	and	CCONJ
ajbmeb-2854	293	13	each	each	PRON
ajbmeb-2854	293	14	of	of	ADP
ajbmeb-2854	293	15	dividend	dividend	NOUN
ajbmeb-2854	293	16	payout	payout	NOUN
ajbmeb-2854	293	17	,	,	PUNCT
ajbmeb-2854	293	18	dividend	dividend	NOUN
ajbmeb-2854	293	19	growth	growth	NOUN
ajbmeb-2854	293	20	rate	rate	NOUN
ajbmeb-2854	293	21	and	and	CCONJ
ajbmeb-2854	293	22	dividend	dividend	NOUN
ajbmeb-2854	293	23	policy	policy	NOUN
ajbmeb-2854	293	24	.	.	PUNCT
ajbmeb-2854	294	1	sorin	sorin	NOUN
ajbmeb-2854	294	2	(	(	PUNCT
ajbmeb-2854	294	3	2016	2016	NUM
ajbmeb-2854	294	4	)	)	PUNCT
ajbmeb-2854	294	5	employing	employ	VERB
ajbmeb-2854	294	6	a	a	DET
ajbmeb-2854	294	7	fixed	fix	VERB
ajbmeb-2854	294	8	effects	effect	NOUN
ajbmeb-2854	294	9	model	model	NOUN
ajbmeb-2854	294	10	found	find	VERB
ajbmeb-2854	294	11	that	that	PRON
ajbmeb-2854	294	12	dividend	dividend	NOUN
ajbmeb-2854	294	13	pay	pay	VERB
ajbmeb-2854	294	14	-	-	PUNCT
ajbmeb-2854	294	15	out	out	ADP
ajbmeb-2854	294	16	ratio	ratio	NOUN
ajbmeb-2854	294	17	positively	positively	ADV
ajbmeb-2854	294	18	influences	influence	VERB
ajbmeb-2854	294	19	firm	firm	ADJ
ajbmeb-2854	294	20	value	value	NOUN
ajbmeb-2854	294	21	after	after	ADP
ajbmeb-2854	294	22	controlling	control	VERB
ajbmeb-2854	294	23	for	for	ADP
ajbmeb-2854	294	24	other	other	ADJ
ajbmeb-2854	294	25	firm	firm	ADJ
ajbmeb-2854	294	26	-	-	PUNCT
ajbmeb-2854	294	27	specific	specific	ADJ
ajbmeb-2854	294	28	variables	variable	NOUN
ajbmeb-2854	294	29	.	.	PUNCT
ajbmeb-2854	295	1	tiwari	tiwari	PROPN
ajbmeb-2854	295	2	and	and	CCONJ
ajbmeb-2854	295	3	kumar	kumar	PROPN
ajbmeb-2854	295	4	(	(	PUNCT
ajbmeb-2854	295	5	2015	2015	NUM
ajbmeb-2854	295	6	)	)	PUNCT
ajbmeb-2854	295	7	dividend	dividend	NOUN
ajbmeb-2854	295	8	per	per	ADP
ajbmeb-2854	295	9	share	share	NOUN
ajbmeb-2854	295	10	is	be	AUX
ajbmeb-2854	295	11	a	a	DET
ajbmeb-2854	295	12	driver	driver	NOUN
ajbmeb-2854	295	13	of	of	ADP
ajbmeb-2854	295	14	firm	firm	ADJ
ajbmeb-2854	295	15	value	value	NOUN
ajbmeb-2854	295	16	.	.	PUNCT
ajbmeb-2854	296	1	the	the	DET
ajbmeb-2854	296	2	result	result	NOUN
ajbmeb-2854	296	3	of	of	ADP
ajbmeb-2854	296	4	our	our	PRON
ajbmeb-2854	296	5	study	study	NOUN
ajbmeb-2854	296	6	conforms	conform	VERB
ajbmeb-2854	296	7	to	to	ADP
ajbmeb-2854	296	8	findings	finding	NOUN
ajbmeb-2854	296	9	by	by	ADP
ajbmeb-2854	296	10	shin	shin	NOUN
ajbmeb-2854	296	11	-	-	PUNCT
ajbmeb-2854	296	12	ping	ping	NOUN
ajbmeb-2854	296	13	and	and	CCONJ
ajbmeb-2854	296	14	hui	hui	PROPN
ajbmeb-2854	296	15	-	-	PUNCT
ajbmeb-2854	296	16	ju	ju	PROPN
ajbmeb-2854	296	17	(	(	PUNCT
ajbmeb-2854	296	18	2011	2011	NUM
ajbmeb-2854	296	19	)	)	PUNCT
ajbmeb-2854	296	20	,	,	PUNCT
ajbmeb-2854	296	21	sharma	sharma	PROPN
ajbmeb-2854	296	22	and	and	CCONJ
ajbmeb-2854	296	23	singh	singh	PROPN
ajbmeb-2854	296	24	(	(	PUNCT
ajbmeb-2854	296	25	2006	2006	NUM
ajbmeb-2854	296	26	)	)	PUNCT
ajbmeb-2854	296	27	,	,	PUNCT
ajbmeb-2854	296	28	samuel	samuel	PROPN
ajbmeb-2854	296	29	et.al	et.al	PROPN
ajbmeb-2854	296	30	,	,	PUNCT
ajbmeb-2854	296	31	(	(	PUNCT
ajbmeb-2854	296	32	2013	2013	NUM
ajbmeb-2854	296	33	)	)	PUNCT
ajbmeb-2854	296	34	ganton	ganton	NOUN
ajbmeb-2854	296	35	(	(	PUNCT
ajbmeb-2854	296	36	2016	2016	NUM
ajbmeb-2854	296	37	)	)	PUNCT
ajbmeb-2854	296	38	;	;	PUNCT
ajbmeb-2854	296	39	tiwari	tiwari	PROPN
ajbmeb-2854	296	40	and	and	CCONJ
ajbmeb-2854	296	41	kumar	kumar	PROPN
ajbmeb-2854	296	42	,	,	PUNCT
ajbmeb-2854	296	43	(	(	PUNCT
ajbmeb-2854	296	44	2015	2015	NUM
ajbmeb-2854	296	45	)	)	PUNCT
ajbmeb-2854	296	46	and	and	CCONJ
ajbmeb-2854	296	47	gordon	gordon	PROPN
ajbmeb-2854	296	48	(	(	PUNCT
ajbmeb-2854	296	49	1963	1963	NUM
ajbmeb-2854	296	50	)	)	PUNCT
ajbmeb-2854	296	51	which	which	PRON
ajbmeb-2854	296	52	argues	argue	VERB
ajbmeb-2854	296	53	that	that	SCONJ
ajbmeb-2854	296	54	dividend	dividend	NOUN
ajbmeb-2854	296	55	policy	policy	NOUN
ajbmeb-2854	296	56	does	do	AUX
ajbmeb-2854	296	57	affect	affect	VERB
ajbmeb-2854	296	58	the	the	DET
ajbmeb-2854	296	59	value	value	NOUN
ajbmeb-2854	296	60	of	of	ADP
ajbmeb-2854	296	61	firm	firm	ADJ
ajbmeb-2854	296	62	and	and	CCONJ
ajbmeb-2854	296	63	market	market	NOUN
ajbmeb-2854	296	64	price	price	NOUN
ajbmeb-2854	296	65	of	of	ADP
ajbmeb-2854	296	66	shares	share	NOUN
ajbmeb-2854	296	67	while	while	SCONJ
ajbmeb-2854	296	68	contrasting	contrast	VERB
ajbmeb-2854	296	69	with	with	ADP
ajbmeb-2854	296	70	the	the	DET
ajbmeb-2854	296	71	study	study	NOUN
ajbmeb-2854	296	72	of	of	ADP
ajbmeb-2854	296	73	ayako	ayako	PROPN
ajbmeb-2854	296	74	and	and	CCONJ
ajbmeb-2854	296	75	wamalwa	wamalwa	PROPN
ajbmeb-2854	296	76	(	(	PUNCT
ajbmeb-2854	296	77	2015	2015	NUM
ajbmeb-2854	296	78	,	,	PUNCT
ajbmeb-2854	296	79	)	)	PUNCT
ajbmeb-2854	296	80	which	which	PRON
ajbmeb-2854	296	81	reported	report	VERB
ajbmeb-2854	296	82	that	that	SCONJ
ajbmeb-2854	296	83	dividend	dividend	NOUN
ajbmeb-2854	296	84	ratio	ratio	NOUN
ajbmeb-2854	296	85	had	have	VERB
ajbmeb-2854	296	86	no	no	DET
ajbmeb-2854	296	87	statistically	statistically	ADV
ajbmeb-2854	296	88	significant	significant	ADJ
ajbmeb-2854	296	89	individual	individual	ADJ
ajbmeb-2854	296	90	effects	effect	NOUN
ajbmeb-2854	296	91	on	on	ADP
ajbmeb-2854	296	92	the	the	DET
ajbmeb-2854	296	93	firm	firm	NOUN
ajbmeb-2854	296	94	.	.	PUNCT
ajbmeb-2854	296	95	.	.	PUNCT
ajbmeb-2854	297	1	dividend	dividend	NOUN
ajbmeb-2854	297	2	and	and	CCONJ
ajbmeb-2854	297	3	market	market	NOUN
ajbmeb-2854	297	4	capitalization	capitalization	NOUN
ajbmeb-2854	297	5	also	also	ADV
ajbmeb-2854	297	6	have	have	VERB
ajbmeb-2854	297	7	a	a	DET
ajbmeb-2854	297	8	significant	significant	ADJ
ajbmeb-2854	297	9	positive	positive	ADJ
ajbmeb-2854	297	10	association	association	NOUN
ajbmeb-2854	297	11	with	with	ADP
ajbmeb-2854	297	12	price	price	NOUN
ajbmeb-2854	297	13	earnings	earning	NOUN
ajbmeb-2854	297	14	ratio	ratio	NOUN
ajbmeb-2854	297	15	.	.	PUNCT
ajbmeb-2854	298	1	the	the	DET
ajbmeb-2854	298	2	indication	indication	NOUN
ajbmeb-2854	298	3	of	of	ADP
ajbmeb-2854	298	4	this	this	DET
ajbmeb-2854	298	5	finding	finding	NOUN
ajbmeb-2854	298	6	is	be	AUX
ajbmeb-2854	298	7	that	that	SCONJ
ajbmeb-2854	298	8	the	the	PRON
ajbmeb-2854	298	9	higher	high	ADJ
ajbmeb-2854	298	10	the	the	DET
ajbmeb-2854	298	11	dividend	dividend	NOUN
ajbmeb-2854	298	12	and	and	CCONJ
ajbmeb-2854	298	13	market	market	NOUN
ajbmeb-2854	298	14	capitalization	capitalization	NOUN
ajbmeb-2854	298	15	the	the	PRON
ajbmeb-2854	298	16	higher	high	ADJ
ajbmeb-2854	298	17	the	the	DET
ajbmeb-2854	298	18	speed	speed	NOUN
ajbmeb-2854	298	19	which	which	PRON
ajbmeb-2854	298	20	it	it	PRON
ajbmeb-2854	298	21	is	be	AUX
ajbmeb-2854	298	22	converted	convert	VERB
ajbmeb-2854	298	23	by	by	ADP
ajbmeb-2854	298	24	the	the	DET
ajbmeb-2854	298	25	market	market	NOUN
ajbmeb-2854	298	26	to	to	PART
ajbmeb-2854	298	27	share	share	VERB
ajbmeb-2854	298	28	price	price	NOUN
ajbmeb-2854	298	29	.	.	PUNCT
ajbmeb-2854	299	1	this	this	PRON
ajbmeb-2854	299	2	conforms	conform	VERB
ajbmeb-2854	299	3	to	to	ADP
ajbmeb-2854	299	4	signaling	signal	VERB
ajbmeb-2854	299	5	theory	theory	NOUN
ajbmeb-2854	299	6	which	which	PRON
ajbmeb-2854	299	7	emphasizes	emphasize	VERB
ajbmeb-2854	299	8	that	that	DET
ajbmeb-2854	299	9	dividend	dividend	NOUN
ajbmeb-2854	299	10	could	could	AUX
ajbmeb-2854	299	11	be	be	AUX
ajbmeb-2854	299	12	used	use	VERB
ajbmeb-2854	299	13	as	as	ADP
ajbmeb-2854	299	14	a	a	DET
ajbmeb-2854	299	15	signal	signal	NOUN
ajbmeb-2854	299	16	to	to	ADP
ajbmeb-2854	299	17	the	the	DET
ajbmeb-2854	299	18	market	market	NOUN
ajbmeb-2854	299	19	and	and	CCONJ
ajbmeb-2854	299	20	conveys	convey	VERB
ajbmeb-2854	299	21	an	an	DET
ajbmeb-2854	299	22	information	information	NOUN
ajbmeb-2854	299	23	about	about	ADP
ajbmeb-2854	299	24	the	the	DET
ajbmeb-2854	299	25	future	future	ADJ
ajbmeb-2854	299	26	prospects	prospect	NOUN
ajbmeb-2854	299	27	of	of	ADP
ajbmeb-2854	299	28	the	the	DET
ajbmeb-2854	299	29	firm	firm	NOUN
ajbmeb-2854	299	30	to	to	ADP
ajbmeb-2854	299	31	the	the	DET
ajbmeb-2854	299	32	would	would	AUX
ajbmeb-2854	299	33	-	-	PUNCT
ajbmeb-2854	299	34	be	be	AUX
ajbmeb-2854	299	35	investors	investor	NOUN
ajbmeb-2854	299	36	.	.	PUNCT
ajbmeb-2854	300	1	our	our	PRON
ajbmeb-2854	300	2	study	study	NOUN
ajbmeb-2854	300	3	contrast	contrast	NOUN
ajbmeb-2854	300	4	with	with	ADP
ajbmeb-2854	300	5	that	that	PRON
ajbmeb-2854	300	6	of	of	ADP
ajbmeb-2854	300	7	gharaibeh	gharaibeh	NOUN
ajbmeb-2854	300	8	and	and	CCONJ
ajbmeb-2854	300	9	qader	qader	NOUN
ajbmeb-2854	300	10	(	(	PUNCT
ajbmeb-2854	300	11	2017	2017	NUM
ajbmeb-2854	300	12	)	)	PUNCT
ajbmeb-2854	300	13	which	which	PRON
ajbmeb-2854	300	14	found	find	VERB
ajbmeb-2854	300	15	insignificant	insignificant	ADJ
ajbmeb-2854	300	16	negative	negative	ADJ
ajbmeb-2854	300	17	relationship	relationship	NOUN
ajbmeb-2854	300	18	of	of	ADP
ajbmeb-2854	300	19	dividend	dividend	NOUN
ajbmeb-2854	300	20	with	with	ADP
ajbmeb-2854	300	21	firm	firm	ADJ
ajbmeb-2854	300	22	value	value	NOUN
ajbmeb-2854	300	23	.	.	PUNCT
ajbmeb-2854	301	1	our	our	PRON
ajbmeb-2854	301	2	study	study	NOUN
ajbmeb-2854	301	3	also	also	ADV
ajbmeb-2854	301	4	confirms	confirm	VERB
ajbmeb-2854	301	5	that	that	SCONJ
ajbmeb-2854	301	6	dividend	dividend	NOUN
ajbmeb-2854	301	7	has	have	VERB
ajbmeb-2854	301	8	significant	significant	ADJ
ajbmeb-2854	301	9	negative	negative	ADJ
ajbmeb-2854	301	10	association	association	NOUN
ajbmeb-2854	301	11	with	with	ADP
ajbmeb-2854	301	12	enterprise	enterprise	NOUN
ajbmeb-2854	301	13	value	value	NOUN
ajbmeb-2854	301	14	.	.	PUNCT
ajbmeb-2854	302	1	while	while	SCONJ
ajbmeb-2854	302	2	market	market	NOUN
ajbmeb-2854	302	3	capitalization	capitalization	NOUN
ajbmeb-2854	302	4	insignificantly	insignificantly	ADV
ajbmeb-2854	302	5	and	and	CCONJ
ajbmeb-2854	302	6	negatively	negatively	ADV
ajbmeb-2854	302	7	affects	affect	VERB
ajbmeb-2854	302	8	enterprise	enterprise	NOUN
ajbmeb-2854	302	9	value	value	NOUN
ajbmeb-2854	302	10	.	.	PUNCT
ajbmeb-2854	303	1	this	this	PRON
ajbmeb-2854	303	2	indicates	indicate	VERB
ajbmeb-2854	303	3	a	a	DET
ajbmeb-2854	303	4	trade	trade	NOUN
ajbmeb-2854	303	5	-	-	PUNCT
ajbmeb-2854	303	6	off	off	NOUN
ajbmeb-2854	303	7	between	between	ADP
ajbmeb-2854	303	8	impact	impact	NOUN
ajbmeb-2854	303	9	of	of	ADP
ajbmeb-2854	303	10	dividend	dividend	NOUN
ajbmeb-2854	303	11	and	and	CCONJ
ajbmeb-2854	303	12	market	market	NOUN
ajbmeb-2854	303	13	capitalization	capitalization	NOUN
ajbmeb-2854	303	14	on	on	ADP
ajbmeb-2854	303	15	market	market	NOUN
ajbmeb-2854	303	16	value	value	NOUN
ajbmeb-2854	303	17	measured	measure	VERB
ajbmeb-2854	303	18	by	by	ADP
ajbmeb-2854	303	19	price	price	NOUN
ajbmeb-2854	303	20	earnings	earning	NOUN
ajbmeb-2854	303	21	ratio	ratio	NOUN
ajbmeb-2854	303	22	and	and	CCONJ
ajbmeb-2854	303	23	tobin	tobin	PROPN
ajbmeb-2854	303	24	q	q	PROPN
ajbmeb-2854	303	25	and	and	CCONJ
ajbmeb-2854	303	26	enterprise	enterprise	NOUN
ajbmeb-2854	303	27	value	value	NOUN
ajbmeb-2854	303	28	.	.	PUNCT
ajbmeb-2854	304	1	increase	increase	NOUN
ajbmeb-2854	304	2	in	in	ADP
ajbmeb-2854	304	3	dividend	dividend	NOUN
ajbmeb-2854	304	4	increases	increase	VERB
ajbmeb-2854	304	5	tobin	tobin	PROPN
ajbmeb-2854	304	6	q	q	NOUN
ajbmeb-2854	304	7	and	and	CCONJ
ajbmeb-2854	304	8	price	price	NOUN
ajbmeb-2854	304	9	earnings	earning	NOUN
ajbmeb-2854	304	10	ratio	ratio	NOUN
ajbmeb-2854	304	11	and	and	CCONJ
ajbmeb-2854	304	12	a	a	DET
ajbmeb-2854	304	13	reduction	reduction	NOUN
ajbmeb-2854	304	14	in	in	ADP
ajbmeb-2854	304	15	enterprise	enterprise	NOUN
ajbmeb-2854	304	16	value	value	NOUN
ajbmeb-2854	304	17	.	.	PUNCT
ajbmeb-2854	305	1	our	our	PRON
ajbmeb-2854	305	2	study	study	NOUN
ajbmeb-2854	305	3	confirms	confirm	VERB
ajbmeb-2854	305	4	that	that	SCONJ
ajbmeb-2854	305	5	the	the	DET
ajbmeb-2854	305	6	speed	speed	NOUN
ajbmeb-2854	305	7	with	with	ADP
ajbmeb-2854	305	8	which	which	PRON
ajbmeb-2854	305	9	firms	firm	NOUN
ajbmeb-2854	305	10	convert	convert	VERB
ajbmeb-2854	305	11	earnings	earning	NOUN
ajbmeb-2854	305	12	to	to	ADP
ajbmeb-2854	305	13	market	market	NOUN
ajbmeb-2854	305	14	valuation	valuation	NOUN
ajbmeb-2854	305	15	is	be	AUX
ajbmeb-2854	305	16	affected	affect	VERB
ajbmeb-2854	305	17	by	by	ADP
ajbmeb-2854	305	18	market	market	NOUN
ajbmeb-2854	305	19	price	price	NOUN
ajbmeb-2854	305	20	is	be	AUX
ajbmeb-2854	305	21	significant	significant	ADJ
ajbmeb-2854	305	22	but	but	CCONJ
ajbmeb-2854	305	23	insignificantly	insignificantly	ADV
ajbmeb-2854	305	24	affect	affect	VERB
ajbmeb-2854	305	25	enterprise	enterprise	NOUN
ajbmeb-2854	305	26	value	value	NOUN
ajbmeb-2854	305	27	and	and	CCONJ
ajbmeb-2854	305	28	tobin	tobin	PROPN
ajbmeb-2854	305	29	q	q	NOUN
ajbmeb-2854	305	30	thus	thus	ADV
ajbmeb-2854	305	31	confirming	confirm	VERB
ajbmeb-2854	305	32	that	that	SCONJ
ajbmeb-2854	305	33	market	market	NOUN
ajbmeb-2854	305	34	capitalization	capitalization	NOUN
ajbmeb-2854	305	35	has	have	VERB
ajbmeb-2854	305	36	a	a	DET
ajbmeb-2854	305	37	weak	weak	ADJ
ajbmeb-2854	305	38	association	association	NOUN
ajbmeb-2854	305	39	american	american	PROPN
ajbmeb-2854	305	40	journal	journal	PROPN
ajbmeb-2854	305	41	of	of	ADP
ajbmeb-2854	305	42	business	business	NOUN
ajbmeb-2854	305	43	management	management	NOUN
ajbmeb-2854	305	44	,	,	PUNCT
ajbmeb-2854	305	45	economics	economic	NOUN
ajbmeb-2854	305	46	and	and	CCONJ
ajbmeb-2854	305	47	banking	banking	NOUN
ajbmeb-2854	305	48	volume	volume	NOUN
ajbmeb-2854	305	49	35	35	NUM
ajbmeb-2854	305	50	april	april	PROPN
ajbmeb-2854	305	51	2025	2025	NUM
ajbmeb-2854	305	52	p	p	NOUN
ajbmeb-2854	305	53	a	a	DET
ajbmeb-2854	305	54	g	g	NOUN
ajbmeb-2854	305	55	e	e	NOUN
ajbmeb-2854	305	56	|	|	ADV
ajbmeb-2854	305	57	60	60	NUM
ajbmeb-2854	305	58	www.americanjournal.org	www.americanjournal.org	NOUN
ajbmeb-2854	305	59	with	with	ADP
ajbmeb-2854	305	60	firm	firm	ADJ
ajbmeb-2854	305	61	value	value	NOUN
ajbmeb-2854	305	62	.	.	PUNCT
ajbmeb-2854	306	1	the	the	DET
ajbmeb-2854	306	2	study	study	NOUN
ajbmeb-2854	306	3	confirms	confirm	VERB
ajbmeb-2854	306	4	that	that	SCONJ
ajbmeb-2854	306	5	changes	change	NOUN
ajbmeb-2854	306	6	in	in	ADP
ajbmeb-2854	306	7	prices	price	NOUN
ajbmeb-2854	306	8	affect	affect	VERB
ajbmeb-2854	306	9	market	market	NOUN
ajbmeb-2854	306	10	value	value	NOUN
ajbmeb-2854	306	11	measured	measure	VERB
ajbmeb-2854	306	12	by	by	ADP
ajbmeb-2854	306	13	tobin	tobin	PROPN
ajbmeb-2854	306	14	q	q	PROPN
ajbmeb-2854	306	15	and	and	CCONJ
ajbmeb-2854	306	16	the	the	DET
ajbmeb-2854	306	17	speed	speed	NOUN
ajbmeb-2854	306	18	which	which	PRON
ajbmeb-2854	306	19	earnings	earning	NOUN
ajbmeb-2854	306	20	are	be	AUX
ajbmeb-2854	306	21	converted	convert	VERB
ajbmeb-2854	306	22	to	to	ADP
ajbmeb-2854	306	23	market	market	NOUN
ajbmeb-2854	306	24	price	price	NOUN
ajbmeb-2854	306	25	based	base	VERB
ajbmeb-2854	306	26	on	on	ADP
ajbmeb-2854	306	27	price	price	NOUN
ajbmeb-2854	306	28	earnings	earning	NOUN
ajbmeb-2854	306	29	ratio	ratio	NOUN
ajbmeb-2854	306	30	.	.	PUNCT
ajbmeb-2854	307	1	the	the	DET
ajbmeb-2854	307	2	reason	reason	NOUN
ajbmeb-2854	307	3	is	be	AUX
ajbmeb-2854	307	4	not	not	PART
ajbmeb-2854	307	5	farfetched	farfetche	VERB
ajbmeb-2854	307	6	as	as	SCONJ
ajbmeb-2854	307	7	macro	macro	ADJ
ajbmeb-2854	307	8	-	-	ADJ
ajbmeb-2854	307	9	economic	economic	ADJ
ajbmeb-2854	307	10	conditions	condition	NOUN
ajbmeb-2854	307	11	play	play	VERB
ajbmeb-2854	307	12	a	a	DET
ajbmeb-2854	307	13	role	role	NOUN
ajbmeb-2854	307	14	in	in	ADP
ajbmeb-2854	307	15	market	market	NOUN
ajbmeb-2854	307	16	reactions	reaction	NOUN
ajbmeb-2854	307	17	.	.	PUNCT
ajbmeb-2854	308	1	increases	increase	NOUN
ajbmeb-2854	308	2	in	in	ADP
ajbmeb-2854	308	3	price	price	NOUN
ajbmeb-2854	308	4	within	within	ADP
ajbmeb-2854	308	5	country	country	NOUN
ajbmeb-2854	308	6	impact	impact	NOUN
ajbmeb-2854	308	7	on	on	ADP
ajbmeb-2854	308	8	pricing	pricing	NOUN
ajbmeb-2854	308	9	of	of	ADP
ajbmeb-2854	308	10	shares	share	NOUN
ajbmeb-2854	308	11	and	and	CCONJ
ajbmeb-2854	308	12	securities	security	NOUN
ajbmeb-2854	308	13	resulting	result	VERB
ajbmeb-2854	308	14	in	in	ADP
ajbmeb-2854	308	15	cost	cost	NOUN
ajbmeb-2854	308	16	push	push	NOUN
ajbmeb-2854	308	17	inflation	inflation	NOUN
ajbmeb-2854	308	18	.	.	PUNCT
ajbmeb-2854	309	1	at	at	ADP
ajbmeb-2854	309	2	this	this	DET
ajbmeb-2854	309	3	juncture	juncture	NOUN
ajbmeb-2854	309	4	we	we	PRON
ajbmeb-2854	309	5	must	must	AUX
ajbmeb-2854	309	6	discuss	discuss	VERB
ajbmeb-2854	309	7	the	the	DET
ajbmeb-2854	309	8	negative	negative	ADJ
ajbmeb-2854	309	9	effect	effect	NOUN
ajbmeb-2854	309	10	and	and	CCONJ
ajbmeb-2854	309	11	the	the	DET
ajbmeb-2854	309	12	direction	direction	NOUN
ajbmeb-2854	309	13	of	of	ADP
ajbmeb-2854	309	14	movement	movement	NOUN
ajbmeb-2854	309	15	of	of	ADP
ajbmeb-2854	309	16	the	the	DET
ajbmeb-2854	309	17	variables	variable	NOUN
ajbmeb-2854	309	18	of	of	ADP
ajbmeb-2854	309	19	study	study	NOUN
ajbmeb-2854	309	20	concerning	concern	VERB
ajbmeb-2854	309	21	the	the	DET
ajbmeb-2854	309	22	relationship	relationship	NOUN
ajbmeb-2854	309	23	between	between	ADP
ajbmeb-2854	309	24	market	market	NOUN
ajbmeb-2854	309	25	capitalization	capitalization	NOUN
ajbmeb-2854	309	26	,	,	PUNCT
ajbmeb-2854	309	27	dividend	dividend	NOUN
ajbmeb-2854	309	28	and	and	CCONJ
ajbmeb-2854	309	29	inflation	inflation	NOUN
ajbmeb-2854	309	30	on	on	ADP
ajbmeb-2854	309	31	enva	enva	PROPN
ajbmeb-2854	309	32	,	,	PUNCT
ajbmeb-2854	309	33	tobin	tobin	PROPN
ajbmeb-2854	309	34	q	q	PROPN
ajbmeb-2854	309	35	and	and	CCONJ
ajbmeb-2854	309	36	inflation	inflation	NOUN
ajbmeb-2854	309	37	.	.	PUNCT
ajbmeb-2854	310	1	while	while	SCONJ
ajbmeb-2854	310	2	dividend	dividend	NOUN
ajbmeb-2854	310	3	,	,	PUNCT
ajbmeb-2854	310	4	market	market	NOUN
ajbmeb-2854	310	5	capitalization	capitalization	NOUN
ajbmeb-2854	310	6	and	and	CCONJ
ajbmeb-2854	310	7	inflation	inflation	NOUN
ajbmeb-2854	310	8	impact	impact	NOUN
ajbmeb-2854	310	9	price	price	NOUN
ajbmeb-2854	310	10	earnings	earning	NOUN
ajbmeb-2854	310	11	ratio	ratio	NOUN
ajbmeb-2854	310	12	and	and	CCONJ
ajbmeb-2854	310	13	tobin	tobin	PROPN
ajbmeb-2854	310	14	q	q	PROPN
ajbmeb-2854	310	15	positively	positively	ADV
ajbmeb-2854	310	16	the	the	DET
ajbmeb-2854	310	17	reverse	reverse	ADJ
ajbmeb-2854	310	18	impact	impact	NOUN
ajbmeb-2854	310	19	is	be	AUX
ajbmeb-2854	310	20	noticed	notice	VERB
ajbmeb-2854	310	21	on	on	ADP
ajbmeb-2854	310	22	enterprise	enterprise	NOUN
ajbmeb-2854	310	23	value	value	NOUN
ajbmeb-2854	310	24	.	.	PUNCT
ajbmeb-2854	311	1	this	this	PRON
ajbmeb-2854	311	2	suggests	suggest	VERB
ajbmeb-2854	311	3	that	that	SCONJ
ajbmeb-2854	311	4	increases	increase	VERB
ajbmeb-2854	311	5	in	in	ADP
ajbmeb-2854	311	6	inflation	inflation	NOUN
ajbmeb-2854	311	7	,	,	PUNCT
ajbmeb-2854	311	8	dividend	dividend	NOUN
ajbmeb-2854	311	9	and	and	CCONJ
ajbmeb-2854	311	10	market	market	NOUN
ajbmeb-2854	311	11	capitalization	capitalization	NOUN
ajbmeb-2854	311	12	reduces	reduce	VERB
ajbmeb-2854	311	13	enterprise	enterprise	NOUN
ajbmeb-2854	311	14	value	value	NOUN
ajbmeb-2854	311	15	.	.	PUNCT
ajbmeb-2854	312	1	a	a	DET
ajbmeb-2854	312	2	trade	trade	NOUN
ajbmeb-2854	312	3	-	-	PUNCT
ajbmeb-2854	312	4	off	off	ADP
ajbmeb-2854	312	5	effect	effect	NOUN
ajbmeb-2854	312	6	which	which	PRON
ajbmeb-2854	312	7	requires	require	VERB
ajbmeb-2854	312	8	deeper	deep	ADJ
ajbmeb-2854	312	9	analysis	analysis	NOUN
ajbmeb-2854	312	10	and	and	CCONJ
ajbmeb-2854	312	11	further	further	ADJ
ajbmeb-2854	312	12	studies	study	NOUN
ajbmeb-2854	312	13	.	.	PUNCT
ajbmeb-2854	313	1	conclusion	conclusion	VERB
ajbmeb-2854	313	2	the	the	DET
ajbmeb-2854	313	3	objective	objective	NOUN
ajbmeb-2854	313	4	of	of	ADP
ajbmeb-2854	313	5	the	the	DET
ajbmeb-2854	313	6	study	study	NOUN
ajbmeb-2854	313	7	was	be	AUX
ajbmeb-2854	313	8	to	to	PART
ajbmeb-2854	313	9	determine	determine	VERB
ajbmeb-2854	313	10	the	the	DET
ajbmeb-2854	313	11	nature	nature	NOUN
ajbmeb-2854	313	12	of	of	ADP
ajbmeb-2854	313	13	relationship	relationship	NOUN
ajbmeb-2854	313	14	between	between	ADP
ajbmeb-2854	313	15	market	market	NOUN
ajbmeb-2854	313	16	capitalization	capitalization	NOUN
ajbmeb-2854	313	17	,	,	PUNCT
ajbmeb-2854	313	18	dividend	dividend	NOUN
ajbmeb-2854	313	19	and	and	CCONJ
ajbmeb-2854	313	20	firm	firm	ADJ
ajbmeb-2854	313	21	values	value	NOUN
ajbmeb-2854	313	22	proxied	proxie	VERB
ajbmeb-2854	313	23	by	by	ADP
ajbmeb-2854	313	24	tobin	tobin	PROPN
ajbmeb-2854	313	25	q	q	PROPN
ajbmeb-2854	313	26	,	,	PUNCT
ajbmeb-2854	313	27	price	price	NOUN
ajbmeb-2854	313	28	earnings	earning	NOUN
ajbmeb-2854	313	29	ratio	ratio	NOUN
ajbmeb-2854	313	30	and	and	CCONJ
ajbmeb-2854	313	31	enterprise	enterprise	NOUN
ajbmeb-2854	313	32	value	value	NOUN
ajbmeb-2854	313	33	.	.	PUNCT
ajbmeb-2854	314	1	the	the	DET
ajbmeb-2854	314	2	study	study	NOUN
ajbmeb-2854	314	3	found	find	VERB
ajbmeb-2854	314	4	a	a	DET
ajbmeb-2854	314	5	positive	positive	ADJ
ajbmeb-2854	314	6	relationship	relationship	NOUN
ajbmeb-2854	314	7	of	of	ADP
ajbmeb-2854	314	8	market	market	NOUN
ajbmeb-2854	314	9	capitalization	capitalization	NOUN
ajbmeb-2854	314	10	and	and	CCONJ
ajbmeb-2854	314	11	dividend	dividend	NOUN
ajbmeb-2854	314	12	on	on	ADP
ajbmeb-2854	314	13	tobin	tobin	PROPN
ajbmeb-2854	314	14	q	q	PROPN
ajbmeb-2854	314	15	and	and	CCONJ
ajbmeb-2854	314	16	price	price	NOUN
ajbmeb-2854	314	17	earnings	earning	NOUN
ajbmeb-2854	314	18	ratio	ratio	NOUN
ajbmeb-2854	314	19	.	.	PUNCT
ajbmeb-2854	315	1	dividends	dividend	NOUN
ajbmeb-2854	315	2	significantly	significantly	ADV
ajbmeb-2854	315	3	impact	impact	VERB
ajbmeb-2854	315	4	tobin	tobin	PROPN
ajbmeb-2854	315	5	q	q	NOUN
ajbmeb-2854	315	6	and	and	CCONJ
ajbmeb-2854	315	7	price	price	NOUN
ajbmeb-2854	315	8	earnings	earning	NOUN
ajbmeb-2854	315	9	ratio	ratio	NOUN
ajbmeb-2854	315	10	.	.	PUNCT
ajbmeb-2854	316	1	we	we	PRON
ajbmeb-2854	316	2	conclude	conclude	VERB
ajbmeb-2854	316	3	that	that	DET
ajbmeb-2854	316	4	dividend	dividend	NOUN
ajbmeb-2854	316	5	is	be	AUX
ajbmeb-2854	316	6	a	a	DET
ajbmeb-2854	316	7	determinant	determinant	NOUN
ajbmeb-2854	316	8	of	of	ADP
ajbmeb-2854	316	9	firm	firm	ADJ
ajbmeb-2854	316	10	value	value	NOUN
ajbmeb-2854	316	11	and	and	CCONJ
ajbmeb-2854	316	12	also	also	ADV
ajbmeb-2854	316	13	plays	play	VERB
ajbmeb-2854	316	14	a	a	DET
ajbmeb-2854	316	15	role	role	NOUN
ajbmeb-2854	316	16	in	in	ADP
ajbmeb-2854	316	17	the	the	DET
ajbmeb-2854	316	18	speed	speed	NOUN
ajbmeb-2854	316	19	which	which	PRON
ajbmeb-2854	316	20	earnings	earning	NOUN
ajbmeb-2854	316	21	are	be	AUX
ajbmeb-2854	316	22	converted	convert	VERB
ajbmeb-2854	316	23	to	to	PART
ajbmeb-2854	316	24	share	share	VERB
ajbmeb-2854	316	25	price	price	NOUN
ajbmeb-2854	316	26	for	for	ADP
ajbmeb-2854	316	27	capital	capital	NOUN
ajbmeb-2854	316	28	gains	gain	NOUN
ajbmeb-2854	316	29	.	.	PUNCT
ajbmeb-2854	317	1	we	we	PRON
ajbmeb-2854	317	2	also	also	ADV
ajbmeb-2854	317	3	conclude	conclude	VERB
ajbmeb-2854	317	4	that	that	SCONJ
ajbmeb-2854	317	5	market	market	NOUN
ajbmeb-2854	317	6	capitalization	capitalization	NOUN
ajbmeb-2854	317	7	has	have	VERB
ajbmeb-2854	317	8	a	a	DET
ajbmeb-2854	317	9	weak	weak	ADJ
ajbmeb-2854	317	10	positive	positive	ADJ
ajbmeb-2854	317	11	relationship	relationship	NOUN
ajbmeb-2854	317	12	with	with	ADP
ajbmeb-2854	317	13	market	market	NOUN
ajbmeb-2854	317	14	value	value	NOUN
ajbmeb-2854	317	15	.	.	PUNCT
ajbmeb-2854	318	1	inflation	inflation	NOUN
ajbmeb-2854	318	2	is	be	AUX
ajbmeb-2854	318	3	noted	note	VERB
ajbmeb-2854	318	4	to	to	PART
ajbmeb-2854	318	5	have	have	VERB
ajbmeb-2854	318	6	a	a	DET
ajbmeb-2854	318	7	positive	positive	ADJ
ajbmeb-2854	318	8	relationship	relationship	NOUN
ajbmeb-2854	318	9	with	with	ADP
ajbmeb-2854	318	10	tobin	tobin	PROPN
ajbmeb-2854	318	11	q	q	PROPN
ajbmeb-2854	318	12	and	and	CCONJ
ajbmeb-2854	318	13	price	price	NOUN
ajbmeb-2854	318	14	earnings	earning	NOUN
ajbmeb-2854	318	15	ratio	ratio	NOUN
ajbmeb-2854	318	16	.	.	PUNCT
ajbmeb-2854	319	1	based	base	VERB
ajbmeb-2854	319	2	on	on	ADP
ajbmeb-2854	319	3	findings	finding	NOUN
ajbmeb-2854	319	4	we	we	PRON
ajbmeb-2854	319	5	conclude	conclude	VERB
ajbmeb-2854	319	6	inflation	inflation	NOUN
ajbmeb-2854	319	7	impact	impact	NOUN
ajbmeb-2854	319	8	firm	firm	NOUN
ajbmeb-2854	319	9	value	value	NOUN
ajbmeb-2854	319	10	.	.	PUNCT
ajbmeb-2854	320	1	recommendations	recommendation	NOUN
ajbmeb-2854	320	2	based	base	VERB
ajbmeb-2854	320	3	on	on	ADP
ajbmeb-2854	320	4	findings	finding	NOUN
ajbmeb-2854	320	5	of	of	ADP
ajbmeb-2854	320	6	the	the	DET
ajbmeb-2854	320	7	study	study	NOUN
ajbmeb-2854	320	8	we	we	PRON
ajbmeb-2854	320	9	recommend	recommend	VERB
ajbmeb-2854	320	10	that	that	SCONJ
ajbmeb-2854	320	11	depending	depend	VERB
ajbmeb-2854	320	12	on	on	ADP
ajbmeb-2854	320	13	the	the	DET
ajbmeb-2854	320	14	corporate	corporate	ADJ
ajbmeb-2854	320	15	goal	goal	NOUN
ajbmeb-2854	320	16	of	of	ADP
ajbmeb-2854	320	17	the	the	DET
ajbmeb-2854	320	18	firm	firm	ADJ
ajbmeb-2854	320	19	managers	manager	NOUN
ajbmeb-2854	320	20	should	should	AUX
ajbmeb-2854	320	21	pay	pay	VERB
ajbmeb-2854	320	22	special	special	ADJ
ajbmeb-2854	320	23	attention	attention	NOUN
ajbmeb-2854	320	24	to	to	ADP
ajbmeb-2854	320	25	and	and	CCONJ
ajbmeb-2854	320	26	dividend	dividend	VERB
ajbmeb-2854	320	27	policy	policy	NOUN
ajbmeb-2854	320	28	with	with	ADP
ajbmeb-2854	320	29	the	the	DET
ajbmeb-2854	320	30	objective	objective	NOUN
ajbmeb-2854	320	31	of	of	ADP
ajbmeb-2854	320	32	maximising	maximise	VERB
ajbmeb-2854	320	33	value	value	NOUN
ajbmeb-2854	320	34	to	to	ADP
ajbmeb-2854	320	35	stakeholders	stakeholder	NOUN
ajbmeb-2854	320	36	.	.	PUNCT
ajbmeb-2854	321	1	implications	implication	NOUN
ajbmeb-2854	321	2	for	for	ADP
ajbmeb-2854	321	3	theory	theory	NOUN
ajbmeb-2854	321	4	and	and	CCONJ
ajbmeb-2854	321	5	practise	practise	VERB
ajbmeb-2854	321	6	the	the	DET
ajbmeb-2854	321	7	implication	implication	NOUN
ajbmeb-2854	321	8	of	of	ADP
ajbmeb-2854	321	9	our	our	PRON
ajbmeb-2854	321	10	study	study	NOUN
ajbmeb-2854	321	11	to	to	PART
ajbmeb-2854	321	12	practise	practise	VERB
ajbmeb-2854	321	13	is	be	AUX
ajbmeb-2854	321	14	that	that	SCONJ
ajbmeb-2854	321	15	,	,	PUNCT
ajbmeb-2854	321	16	market	market	NOUN
ajbmeb-2854	321	17	capitalization	capitalization	NOUN
ajbmeb-2854	321	18	and	and	CCONJ
ajbmeb-2854	321	19	dividend	dividend	NOUN
ajbmeb-2854	321	20	play	play	VERB
ajbmeb-2854	321	21	a	a	DET
ajbmeb-2854	321	22	significant	significant	ADJ
ajbmeb-2854	321	23	role	role	NOUN
ajbmeb-2854	321	24	in	in	ADP
ajbmeb-2854	321	25	determining	determine	VERB
ajbmeb-2854	321	26	firm	firm	ADJ
ajbmeb-2854	321	27	value	value	NOUN
ajbmeb-2854	321	28	.	.	PUNCT
ajbmeb-2854	322	1	inflation	inflation	NOUN
ajbmeb-2854	322	2	as	as	ADP
ajbmeb-2854	322	3	a	a	DET
ajbmeb-2854	322	4	macroeconomic	macroeconomic	ADJ
ajbmeb-2854	322	5	factor	factor	NOUN
ajbmeb-2854	322	6	affects	affect	VERB
ajbmeb-2854	322	7	firm	firm	ADJ
ajbmeb-2854	322	8	value	value	NOUN
ajbmeb-2854	322	9	.	.	PUNCT
ajbmeb-2854	323	1	therefore	therefore	ADV
ajbmeb-2854	323	2	,	,	PUNCT
ajbmeb-2854	323	3	policy	policy	NOUN
ajbmeb-2854	323	4	makers	maker	NOUN
ajbmeb-2854	323	5	should	should	AUX
ajbmeb-2854	323	6	be	be	AUX
ajbmeb-2854	323	7	conscious	conscious	ADJ
ajbmeb-2854	323	8	of	of	ADP
ajbmeb-2854	323	9	the	the	DET
ajbmeb-2854	323	10	impact	impact	NOUN
ajbmeb-2854	323	11	of	of	ADP
ajbmeb-2854	323	12	inflation	inflation	NOUN
ajbmeb-2854	323	13	on	on	ADP
ajbmeb-2854	323	14	firm	firm	ADJ
ajbmeb-2854	323	15	value	value	NOUN
ajbmeb-2854	323	16	as	as	ADV
ajbmeb-2854	323	17	well	well	ADV
ajbmeb-2854	323	18	as	as	ADP
ajbmeb-2854	323	19	that	that	PRON
ajbmeb-2854	323	20	of	of	ADP
ajbmeb-2854	323	21	dividend	dividend	NOUN
ajbmeb-2854	323	22	policy	policy	NOUN
ajbmeb-2854	323	23	as	as	SCONJ
ajbmeb-2854	323	24	both	both	PRON
ajbmeb-2854	323	25	affects	affect	VERB
ajbmeb-2854	323	26	firm	firm	ADJ
ajbmeb-2854	323	27	value	value	NOUN
ajbmeb-2854	323	28	.	.	PUNCT
ajbmeb-2854	324	1	theoretically	theoretically	ADV
ajbmeb-2854	324	2	our	our	PRON
ajbmeb-2854	324	3	study	study	NOUN
ajbmeb-2854	324	4	supports	support	VERB
ajbmeb-2854	324	5	the	the	DET
ajbmeb-2854	324	6	signalling	signal	VERB
ajbmeb-2854	324	7	theory	theory	NOUN
ajbmeb-2854	324	8	and	and	CCONJ
ajbmeb-2854	324	9	bird	bird	NOUN
ajbmeb-2854	324	10	in	in	ADP
ajbmeb-2854	324	11	hand	hand	NOUN
ajbmeb-2854	324	12	theory	theory	NOUN
ajbmeb-2854	324	13	which	which	PRON
ajbmeb-2854	324	14	specifies	specify	VERB
ajbmeb-2854	324	15	that	that	SCONJ
ajbmeb-2854	324	16	dividends	dividend	NOUN
ajbmeb-2854	324	17	have	have	VERB
ajbmeb-2854	324	18	impact	impact	NOUN
ajbmeb-2854	324	19	on	on	ADP
ajbmeb-2854	324	20	firm	firm	ADJ
ajbmeb-2854	324	21	value	value	NOUN
ajbmeb-2854	324	22	and	and	CCONJ
ajbmeb-2854	324	23	negates	negate	VERB
ajbmeb-2854	324	24	modigliani	modigliani	ADJ
ajbmeb-2854	324	25	and	and	CCONJ
ajbmeb-2854	324	26	miller	miller	PROPN
ajbmeb-2854	324	27	’s	’s	PART
ajbmeb-2854	324	28	irrelevance	irrelevance	NOUN
ajbmeb-2854	324	29	theory	theory	NOUN
ajbmeb-2854	324	30	of	of	ADP
ajbmeb-2854	324	31	dividends	dividend	NOUN
ajbmeb-2854	324	32	.	.	PUNCT
ajbmeb-2854	325	1	references	reference	NOUN
ajbmeb-2854	325	2	1	1	NUM
ajbmeb-2854	325	3	.	.	PUNCT
ajbmeb-2854	325	4	abbot	abbot	PROPN
ajbmeb-2854	325	5	.	.	PUNCT
ajbmeb-2854	326	1	(	(	PUNCT
ajbmeb-2854	326	2	2000	2000	NUM
ajbmeb-2854	326	3	)	)	PUNCT
ajbmeb-2854	326	4	.	.	PUNCT
ajbmeb-2854	327	1	the	the	DET
ajbmeb-2854	327	2	concept	concept	NOUN
ajbmeb-2854	327	3	of	of	ADP
ajbmeb-2854	327	4	legalization	legalization	NOUN
ajbmeb-2854	327	5	dalam	dalam	PROPN
ajbmeb-2854	327	6	international	international	PROPN
ajbmeb-2854	327	7	organization	organization	PROPN
ajbmeb-2854	327	8	.	.	PUNCT
ajbmeb-2854	328	1	journal	journal	PROPN
ajbmeb-2854	328	2	legalization	legalization	NOUN
ajbmeb-2854	328	3	and	and	CCONJ
ajbmeb-2854	328	4	world	world	NOUN
ajbmeb-2854	328	5	politics	politic	NOUN
ajbmeb-2854	328	6	.	.	PUNCT
ajbmeb-2854	329	1	54(3	54(3	NUM
ajbmeb-2854	329	2	)	)	PUNCT
ajbmeb-2854	329	3	.	.	PUNCT
ajbmeb-2854	330	1	summer	summer	NOUN
ajbmeb-2854	330	2	2	2	NUM
ajbmeb-2854	330	3	.	.	X
ajbmeb-2854	330	4	aharony	aharony	PROPN
ajbmeb-2854	330	5	,	,	PUNCT
ajbmeb-2854	330	6	j.	j.	PROPN
ajbmeb-2854	330	7	,	,	PUNCT
ajbmeb-2854	330	8	&	&	CCONJ
ajbmeb-2854	330	9	swary	swary	ADJ
ajbmeb-2854	330	10	,	,	PUNCT
ajbmeb-2854	330	11	i.	i.	NOUN
ajbmeb-2854	330	12	(	(	PUNCT
ajbmeb-2854	330	13	1980	1980	NUM
ajbmeb-2854	330	14	)	)	PUNCT
ajbmeb-2854	330	15	.	.	PUNCT
ajbmeb-2854	331	1	quarterly	quarterly	ADJ
ajbmeb-2854	331	2	dividend	dividend	NOUN
ajbmeb-2854	331	3	earnings	earning	NOUN
ajbmeb-2854	331	4	announcements	announcement	NOUN
ajbmeb-2854	331	5	and	and	CCONJ
ajbmeb-2854	331	6	stockholders	stockholder	NOUN
ajbmeb-2854	331	7	returns	return	VERB
ajbmeb-2854	331	8	an	an	DET
ajbmeb-2854	331	9	empirical	empirical	ADJ
ajbmeb-2854	331	10	analysis	analysis	NOUN
ajbmeb-2854	331	11	.	.	PUNCT
ajbmeb-2854	332	1	journal	journal	PROPN
ajbmeb-2854	332	2	of	of	ADP
ajbmeb-2854	332	3	finance	finance	NOUN
ajbmeb-2854	332	4	,	,	PUNCT
ajbmeb-2854	332	5	35	35	NUM
ajbmeb-2854	332	6	,	,	PUNCT
ajbmeb-2854	332	7	1	1	NUM
ajbmeb-2854	332	8	-	-	SYM
ajbmeb-2854	332	9	12	12	NUM
ajbmeb-2854	332	10	.	.	PUNCT
ajbmeb-2854	333	1	3	3	X
ajbmeb-2854	333	2	.	.	X
ajbmeb-2854	333	3	al	al	PROPN
ajbmeb-2854	333	4	-	-	PUNCT
ajbmeb-2854	333	5	kuwari	kuwari	PROPN
ajbmeb-2854	333	6	,	,	PUNCT
ajbmeb-2854	333	7	d.	d.	PROPN
ajbmeb-2854	333	8	(	(	PUNCT
ajbmeb-2854	333	9	2009	2009	NUM
ajbmeb-2854	333	10	)	)	PUNCT
ajbmeb-2854	333	11	.	.	PUNCT
ajbmeb-2854	334	1	determinants	determinant	NOUN
ajbmeb-2854	334	2	of	of	ADP
ajbmeb-2854	334	3	the	the	DET
ajbmeb-2854	334	4	dividend	dividend	NOUN
ajbmeb-2854	334	5	payout	payout	NOUN
ajbmeb-2854	334	6	ratio	ratio	NOUN
ajbmeb-2854	334	7	of	of	ADP
ajbmeb-2854	334	8	companies	company	NOUN
ajbmeb-2854	334	9	listed	list	VERB
ajbmeb-2854	334	10	on	on	ADP
ajbmeb-2854	334	11	emerging	emerge	VERB
ajbmeb-2854	334	12	stock	stock	NOUN
ajbmeb-2854	334	13	exchanges	exchange	NOUN
ajbmeb-2854	334	14	:	:	PUNCT
ajbmeb-2854	334	15	the	the	DET
ajbmeb-2854	334	16	case	case	NOUN
ajbmeb-2854	334	17	of	of	ADP
ajbmeb-2854	334	18	the	the	DET
ajbmeb-2854	334	19	gulf	gulf	PROPN
ajbmeb-2854	334	20	cooperation	cooperation	PROPN
ajbmeb-2854	334	21	council	council	PROPN
ajbmeb-2854	334	22	(	(	PUNCT
ajbmeb-2854	334	23	gcc	gcc	NOUN
ajbmeb-2854	334	24	)	)	PUNCT
ajbmeb-2854	334	25	countries	country	NOUN
ajbmeb-2854	334	26	.	.	PUNCT
ajbmeb-2854	335	1	global	global	ADJ
ajbmeb-2854	335	2	economy	economy	PROPN
ajbmeb-2854	335	3	&	&	CCONJ
ajbmeb-2854	335	4	finance	finance	PROPN
ajbmeb-2854	335	5	journal	journal	NOUN
ajbmeb-2854	335	6	,	,	PUNCT
ajbmeb-2854	335	7	2	2	NUM
ajbmeb-2854	335	8	(	(	PUNCT
ajbmeb-2854	335	9	2	2	NUM
ajbmeb-2854	335	10	)	)	PUNCT
ajbmeb-2854	335	11	,	,	PUNCT
ajbmeb-2854	335	12	38	38	NUM
ajbmeb-2854	335	13	-	-	SYM
ajbmeb-2854	335	14	63	63	NUM
ajbmeb-2854	335	15	,	,	PUNCT
ajbmeb-2854	335	16	september	september	PROPN
ajbmeb-2854	335	17	.	.	PUNCT
ajbmeb-2854	336	1	american	american	PROPN
ajbmeb-2854	336	2	journal	journal	PROPN
ajbmeb-2854	336	3	of	of	ADP
ajbmeb-2854	336	4	business	business	NOUN
ajbmeb-2854	336	5	management	management	NOUN
ajbmeb-2854	336	6	,	,	PUNCT
ajbmeb-2854	336	7	economics	economic	NOUN
ajbmeb-2854	336	8	and	and	CCONJ
ajbmeb-2854	336	9	banking	banking	NOUN
ajbmeb-2854	336	10	volume	volume	NOUN
ajbmeb-2854	336	11	35	35	NUM
ajbmeb-2854	336	12	april	april	PROPN
ajbmeb-2854	336	13	2025	2025	NUM
ajbmeb-2854	336	14	p	p	NOUN
ajbmeb-2854	337	1	a	a	DET
ajbmeb-2854	337	2	g	g	NOUN
ajbmeb-2854	337	3	e	e	NOUN
ajbmeb-2854	337	4	|	|	ADV
ajbmeb-2854	337	5	61	61	NUM
ajbmeb-2854	337	6	www.americanjournal.org	www.americanjournal.org	NOUN
ajbmeb-2854	337	7	4	4	NUM
ajbmeb-2854	337	8	.	.	PUNCT
ajbmeb-2854	338	1	ayako	ayako	PROPN
ajbmeb-2854	338	2	,	,	PUNCT
ajbmeb-2854	338	3	a.	a.	PROPN
ajbmeb-2854	338	4	,	,	PUNCT
ajbmeb-2854	338	5	&	&	CCONJ
ajbmeb-2854	338	6	wamalwa	wamalwa	PROPN
ajbmeb-2854	338	7	,	,	PUNCT
ajbmeb-2854	338	8	f.	f.	PROPN
ajbmeb-2854	338	9	(	(	PUNCT
ajbmeb-2854	338	10	2015	2015	NUM
ajbmeb-2854	338	11	)	)	PUNCT
ajbmeb-2854	338	12	.	.	PUNCT
ajbmeb-2854	339	1	determinants	determinant	NOUN
ajbmeb-2854	339	2	of	of	ADP
ajbmeb-2854	339	3	firm	firm	ADJ
ajbmeb-2854	339	4	value	value	NOUN
ajbmeb-2854	339	5	in	in	ADP
ajbmeb-2854	339	6	kenya	kenya	PROPN
ajbmeb-2854	339	7	:	:	PUNCT
ajbmeb-2854	339	8	case	case	NOUN
ajbmeb-2854	339	9	of	of	ADP
ajbmeb-2854	339	10	commercial	commercial	ADJ
ajbmeb-2854	339	11	banks	bank	NOUN
ajbmeb-2854	339	12	listed	list	VERB
ajbmeb-2854	339	13	at	at	ADP
ajbmeb-2854	339	14	the	the	DET
ajbmeb-2854	339	15	nairobi	nairobi	PROPN
ajbmeb-2854	339	16	securities	securities	PROPN
ajbmeb-2854	339	17	exchange	exchange	PROPN
ajbmeb-2854	339	18	.	.	PUNCT
ajbmeb-2854	340	1	applied	apply	VERB
ajbmeb-2854	340	2	finance	finance	NOUN
ajbmeb-2854	340	3	and	and	CCONJ
ajbmeb-2854	340	4	accounting	accounting	NOUN
ajbmeb-2854	340	5	,	,	PUNCT
ajbmeb-2854	340	6	1(2	1(2	NUM
ajbmeb-2854	340	7	)	)	PUNCT
ajbmeb-2854	340	8	,	,	PUNCT
ajbmeb-2854	340	9	129	129	NUM
ajbmeb-2854	340	10	-	-	SYM
ajbmeb-2854	340	11	142	142	NUM
ajbmeb-2854	340	12	.	.	PUNCT
ajbmeb-2854	341	1	5	5	NUM
ajbmeb-2854	341	2	.	.	X
ajbmeb-2854	341	3	amarjit	amarjit	PROPN
ajbmeb-2854	341	4	,	,	PUNCT
ajbmeb-2854	341	5	g.	g.	PROPN
ajbmeb-2854	341	6	,	,	PUNCT
ajbmeb-2854	341	7	nahum	nahum	PROPN
ajbmeb-2854	341	8	,	,	PUNCT
ajbmeb-2854	341	9	b.	b.	PROPN
ajbmeb-2854	341	10	&	&	CCONJ
ajbmeb-2854	341	11	neil	neil	PROPN
ajbmeb-2854	341	12	,	,	PUNCT
ajbmeb-2854	341	13	m.	m.	NOUN
ajbmeb-2854	341	14	(	(	PUNCT
ajbmeb-2854	341	15	2012	2012	NUM
ajbmeb-2854	341	16	)	)	PUNCT
ajbmeb-2854	341	17	.	.	PUNCT
ajbmeb-2854	342	1	relationship	relationship	NOUN
ajbmeb-2854	342	2	between	between	ADP
ajbmeb-2854	342	3	working	work	VERB
ajbmeb-2854	342	4	capital	capital	NOUN
ajbmeb-2854	342	5	management	management	NOUN
ajbmeb-2854	342	6	and	and	CCONJ
ajbmeb-2854	342	7	profitability	profitability	NOUN
ajbmeb-2854	342	8	:	:	PUNCT
ajbmeb-2854	342	9	evidence	evidence	NOUN
ajbmeb-2854	342	10	from	from	ADP
ajbmeb-2854	342	11	the	the	DET
ajbmeb-2854	342	12	united	united	PROPN
ajbmeb-2854	342	13	states	states	PROPN
ajbmeb-2854	342	14	.	.	PUNCT
ajbmeb-2854	343	1	business	business	NOUN
ajbmeb-2854	343	2	and	and	CCONJ
ajbmeb-2854	343	3	economics	economic	NOUN
ajbmeb-2854	343	4	journal,10	journal,10	NOUN
ajbmeb-2854	343	5	,	,	PUNCT
ajbmeb-2854	343	6	1	1	NUM
ajbmeb-2854	343	7	-	-	SYM
ajbmeb-2854	343	8	9	9	NUM
ajbmeb-2854	343	9	6	6	NUM
ajbmeb-2854	343	10	.	.	PUNCT
ajbmeb-2854	344	1	amidu	amidu	ADJ
ajbmeb-2854	344	2	,	,	PUNCT
ajbmeb-2854	344	3	m.	m.	NOUN
ajbmeb-2854	344	4	,	,	PUNCT
ajbmeb-2854	344	5	and	and	CCONJ
ajbmeb-2854	344	6	abor	abor	PROPN
ajbmeb-2854	344	7	,	,	PUNCT
ajbmeb-2854	344	8	j.	j.	PROPN
ajbmeb-2854	344	9	(	(	PUNCT
ajbmeb-2854	344	10	2006	2006	NUM
ajbmeb-2854	344	11	)	)	PUNCT
ajbmeb-2854	344	12	.	.	PUNCT
ajbmeb-2854	345	1	determinants	determinant	NOUN
ajbmeb-2854	345	2	of	of	ADP
ajbmeb-2854	345	3	dividend	dividend	NOUN
ajbmeb-2854	345	4	payout	payout	NOUN
ajbmeb-2854	345	5	ratios	ratio	NOUN
ajbmeb-2854	345	6	in	in	ADP
ajbmeb-2854	345	7	ghana	ghana	PROPN
ajbmeb-2854	345	8	.	.	PUNCT
ajbmeb-2854	346	1	the	the	DET
ajbmeb-2854	346	2	journal	journal	NOUN
ajbmeb-2854	346	3	of	of	ADP
ajbmeb-2854	346	4	risk	risk	NOUN
ajbmeb-2854	346	5	finance	finance	NOUN
ajbmeb-2854	346	6	,	,	PUNCT
ajbmeb-2854	346	7	7(2	7(2	NUM
ajbmeb-2854	346	8	)	)	PUNCT
ajbmeb-2854	346	9	,	,	PUNCT
ajbmeb-2854	346	10	136	136	NUM
ajbmeb-2854	346	11	-	-	SYM
ajbmeb-2854	346	12	145	145	NUM
ajbmeb-2854	346	13	7	7	NUM
ajbmeb-2854	346	14	.	.	PUNCT
ajbmeb-2854	346	15	anton	anton	PROPN
ajbmeb-2854	346	16	,	,	PUNCT
ajbmeb-2854	346	17	s.	s.	PROPN
ajbmeb-2854	346	18	g.	g.	PROPN
ajbmeb-2854	346	19	(	(	PUNCT
ajbmeb-2854	346	20	2016	2016	NUM
ajbmeb-2854	346	21	)	)	PUNCT
ajbmeb-2854	346	22	.	.	PUNCT
ajbmeb-2854	347	1	the	the	DET
ajbmeb-2854	347	2	impact	impact	NOUN
ajbmeb-2854	347	3	of	of	ADP
ajbmeb-2854	347	4	dividend	dividend	NOUN
ajbmeb-2854	347	5	on	on	ADP
ajbmeb-2854	347	6	firm	firm	ADJ
ajbmeb-2854	347	7	value	value	NOUN
ajbmeb-2854	347	8	.	.	PUNCT
ajbmeb-2854	348	1	a	a	DET
ajbmeb-2854	348	2	panel	panel	NOUN
ajbmeb-2854	348	3	data	data	VERB
ajbmeb-2854	348	4	analysis	analysis	NOUN
ajbmeb-2854	348	5	of	of	ADP
ajbmeb-2854	348	6	romanian	romanian	ADJ
ajbmeb-2854	348	7	listed	list	VERB
ajbmeb-2854	348	8	firms	firm	NOUN
ajbmeb-2854	348	9	.	.	PUNCT
ajbmeb-2854	349	1	journal	journal	NOUN
ajbmeb-2854	349	2	of	of	ADP
ajbmeb-2854	349	3	public	public	ADJ
ajbmeb-2854	349	4	administration	administration	NOUN
ajbmeb-2854	349	5	,	,	PUNCT
ajbmeb-2854	349	6	finance	finance	NOUN
ajbmeb-2854	349	7	and	and	CCONJ
ajbmeb-2854	349	8	law	law	NOUN
ajbmeb-2854	349	9	,	,	PUNCT
ajbmeb-2854	349	10	107	107	NUM
ajbmeb-2854	349	11	-	-	SYM
ajbmeb-2854	349	12	112	112	NUM
ajbmeb-2854	349	13	8	8	NUM
ajbmeb-2854	349	14	.	.	PUNCT
ajbmeb-2854	350	1	asquith	asquith	PROPN
ajbmeb-2854	350	2	,	,	PUNCT
ajbmeb-2854	350	3	p	p	PROPN
ajbmeb-2854	350	4	&	&	CCONJ
ajbmeb-2854	350	5	mullins	mullins	PROPN
ajbmeb-2854	350	6	,	,	PUNCT
ajbmeb-2854	350	7	d	d	PROPN
ajbmeb-2854	350	8	(	(	PUNCT
ajbmeb-2854	350	9	1983	1983	NUM
ajbmeb-2854	350	10	)	)	PUNCT
ajbmeb-2854	350	11	.	.	PUNCT
ajbmeb-2854	351	1	the	the	DET
ajbmeb-2854	351	2	impact	impact	NOUN
ajbmeb-2854	351	3	of	of	ADP
ajbmeb-2854	351	4	initiating	initiate	VERB
ajbmeb-2854	351	5	dividend	dividend	NOUN
ajbmeb-2854	351	6	payments	payment	NOUN
ajbmeb-2854	351	7	on	on	ADP
ajbmeb-2854	351	8	shareholders	shareholder	NOUN
ajbmeb-2854	351	9	'	'	PART
ajbmeb-2854	351	10	wealth	wealth	NOUN
ajbmeb-2854	351	11	,	,	PUNCT
ajbmeb-2854	351	12	”	"	PUNCT
ajbmeb-2854	351	13	journal	journal	NOUN
ajbmeb-2854	351	14	of	of	ADP
ajbmeb-2854	351	15	business	business	NOUN
ajbmeb-2854	351	16	,	,	PUNCT
ajbmeb-2854	351	17	56(1	56(1	NUM
ajbmeb-2854	351	18	)	)	PUNCT
ajbmeb-2854	351	19	,	,	PUNCT
ajbmeb-2854	351	20	77	77	NUM
ajbmeb-2854	351	21	-	-	SYM
ajbmeb-2854	351	22	96	96	NUM
ajbmeb-2854	351	23	9	9	NUM
ajbmeb-2854	351	24	.	.	PUNCT
ajbmeb-2854	351	25	baker	baker	PROPN
ajbmeb-2854	351	26	hk	hk	PROPN
ajbmeb-2854	351	27	&	&	CCONJ
ajbmeb-2854	351	28	powel	powel	PROPN
ajbmeb-2854	351	29	ge	ge	PROPN
ajbmeb-2854	351	30	(	(	PUNCT
ajbmeb-2854	351	31	1999	1999	NUM
ajbmeb-2854	351	32	)	)	PUNCT
ajbmeb-2854	351	33	.	.	PUNCT
ajbmeb-2854	352	1	how	how	SCONJ
ajbmeb-2854	352	2	corporate	corporate	ADJ
ajbmeb-2854	352	3	managers	manager	NOUN
ajbmeb-2854	352	4	view	view	VERB
ajbmeb-2854	352	5	dividend	dividend	NOUN
ajbmeb-2854	352	6	policy	policy	NOUN
ajbmeb-2854	352	7	.	.	PUNCT
ajbmeb-2854	353	1	quarterly	quarterly	ADJ
ajbmeb-2854	353	2	j	j	PROPN
ajbmeb-2854	353	3	bus	bus	NOUN
ajbmeb-2854	353	4	.	.	PUNCT
ajbmeb-2854	354	1	econ	econ	PROPN
ajbmeb-2854	354	2	.	.	PUNCT
ajbmeb-2854	355	1	38(2):665	38(2):665	NUM
ajbmeb-2854	355	2	.	.	PUNCT
ajbmeb-2854	356	1	10	10	NUM
ajbmeb-2854	356	2	.	.	X
ajbmeb-2854	357	1	black	black	ADJ
ajbmeb-2854	357	2	,	,	PUNCT
ajbmeb-2854	357	3	f.	f.	PROPN
ajbmeb-2854	357	4	(	(	PUNCT
ajbmeb-2854	357	5	1976	1976	NUM
ajbmeb-2854	357	6	)	)	PUNCT
ajbmeb-2854	357	7	.	.	PUNCT
ajbmeb-2854	358	1	the	the	DET
ajbmeb-2854	358	2	dividend	dividend	NOUN
ajbmeb-2854	358	3	puzzle	puzzle	NOUN
ajbmeb-2854	358	4	,	,	PUNCT
ajbmeb-2854	358	5	journal	journal	NOUN
ajbmeb-2854	358	6	of	of	ADP
ajbmeb-2854	358	7	portfolio	portfolio	NOUN
ajbmeb-2854	358	8	management	management	NOUN
ajbmeb-2854	358	9	,	,	PUNCT
ajbmeb-2854	358	10	2	2	NUM
ajbmeb-2854	358	11	,	,	PUNCT
ajbmeb-2854	358	12	5	5	NUM
ajbmeb-2854	358	13	-	-	SYM
ajbmeb-2854	358	14	8	8	NUM
ajbmeb-2854	358	15	.	.	PUNCT
ajbmeb-2854	358	16	abor	abor	PROPN
ajbmeb-2854	358	17	,	,	PUNCT
ajbmeb-2854	358	18	m.	m.	NOUN
ajbmeb-2854	358	19	a.	a.	NOUN
ajbmeb-2854	358	20	(	(	PUNCT
ajbmeb-2854	358	21	2006	2006	NUM
ajbmeb-2854	358	22	)	)	PUNCT
ajbmeb-2854	358	23	.	.	PUNCT
ajbmeb-2854	359	1	determinants	determinant	NOUN
ajbmeb-2854	359	2	of	of	ADP
ajbmeb-2854	359	3	dividend	dividend	NOUN
ajbmeb-2854	359	4	payout	payout	NOUN
ajbmeb-2854	359	5	ratios	ratio	NOUN
ajbmeb-2854	359	6	in	in	ADP
ajbmeb-2854	359	7	ghana	ghana	PROPN
ajbmeb-2854	359	8	.	.	PUNCT
ajbmeb-2854	360	1	the	the	DET
ajbmeb-2854	360	2	journal	journal	NOUN
ajbmeb-2854	360	3	of	of	ADP
ajbmeb-2854	360	4	risk	risk	NOUN
ajbmeb-2854	360	5	finance	finance	NOUN
ajbmeb-2854	360	6	,	,	PUNCT
ajbmeb-2854	360	7	7(2	7(2	NUM
ajbmeb-2854	360	8	)	)	PUNCT
ajbmeb-2854	360	9	,	,	PUNCT
ajbmeb-2854	360	10	136	136	NUM
ajbmeb-2854	360	11	-	-	SYM
ajbmeb-2854	360	12	145	145	NUM
ajbmeb-2854	360	13	.	.	PUNCT
ajbmeb-2854	360	14	11	11	NUM
ajbmeb-2854	360	15	.	.	PUNCT
ajbmeb-2854	361	1	brealey	brealey	PROPN
ajbmeb-2854	361	2	,	,	PUNCT
ajbmeb-2854	361	3	r.	r.	PROPN
ajbmeb-2854	361	4	a.	a.	PROPN
ajbmeb-2854	361	5	,	,	PUNCT
ajbmeb-2854	361	6	myers	myers	PROPN
ajbmeb-2854	361	7	,	,	PUNCT
ajbmeb-2854	361	8	s.	s.	PROPN
ajbmeb-2854	361	9	c.	c.	PROPN
ajbmeb-2854	361	10	,	,	PUNCT
ajbmeb-2854	361	11	allen	allen	PROPN
ajbmeb-2854	361	12	,	,	PUNCT
ajbmeb-2854	361	13	f.	f.	PROPN
ajbmeb-2854	361	14	,	,	PUNCT
ajbmeb-2854	361	15	&	&	CCONJ
ajbmeb-2854	361	16	mohanty	mohanty	PROPN
ajbmeb-2854	361	17	,	,	PUNCT
ajbmeb-2854	361	18	p.	p.	NOUN
ajbmeb-2854	361	19	(	(	PUNCT
ajbmeb-2854	361	20	2012).principles	2012).principle	NOUN
ajbmeb-2854	361	21	of	of	ADP
ajbmeb-2854	361	22	corporate	corporate	ADJ
ajbmeb-2854	361	23	finance	finance	NOUN
ajbmeb-2854	361	24	.	.	PUNCT
ajbmeb-2854	362	1	tata	tata	PROPN
ajbmeb-2854	362	2	mcgraw	mcgraw	PROPN
ajbmeb-2854	362	3	-	-	PUNCT
ajbmeb-2854	362	4	hill	hill	NOUN
ajbmeb-2854	362	5	education	education	NOUN
ajbmeb-2854	362	6	.	.	PUNCT
ajbmeb-2854	363	1	12	12	NUM
ajbmeb-2854	363	2	.	.	PUNCT
ajbmeb-2854	363	3	brown	brown	PROPN
ajbmeb-2854	363	4	,	,	PUNCT
ajbmeb-2854	363	5	r.	r.	PROPN
ajbmeb-2854	363	6	,	,	PUNCT
ajbmeb-2854	363	7	&	&	CCONJ
ajbmeb-2854	363	8	pierce	pierce	PROPN
ajbmeb-2854	363	9	,	,	PUNCT
ajbmeb-2854	363	10	b.	b.	PROPN
ajbmeb-2854	363	11	(	(	PUNCT
ajbmeb-2854	363	12	2000	2000	NUM
ajbmeb-2854	363	13	,	,	PUNCT
ajbmeb-2854	363	14	april	april	PROPN
ajbmeb-2854	363	15	)	)	PUNCT
ajbmeb-2854	363	16	.	.	PUNCT
ajbmeb-2854	364	1	the	the	DET
ajbmeb-2854	364	2	empirical	empirical	ADJ
ajbmeb-2854	364	3	validity	validity	NOUN
ajbmeb-2854	364	4	of	of	ADP
ajbmeb-2854	364	5	eva	eva	PROPN
ajbmeb-2854	364	6	.	.	PUNCT
ajbmeb-2854	365	1	in	in	ADP
ajbmeb-2854	365	2	management	management	NOUN
ajbmeb-2854	365	3	accounting	accounting	NOUN
ajbmeb-2854	365	4	research	research	NOUN
ajbmeb-2854	365	5	conference	conference	NOUN
ajbmeb-2854	365	6	,	,	PUNCT
ajbmeb-2854	365	7	at	at	ADP
ajbmeb-2854	365	8	london	london	PROPN
ajbmeb-2854	365	9	school	school	NOUN
ajbmeb-2854	365	10	of	of	ADP
ajbmeb-2854	365	11	economics	economic	NOUN
ajbmeb-2854	365	12	,	,	PUNCT
ajbmeb-2854	365	13	london	london	PROPN
ajbmeb-2854	365	14	13	13	NUM
ajbmeb-2854	365	15	.	.	PUNCT
ajbmeb-2854	366	1	bhattacharya	bhattacharya	PROPN
ajbmeb-2854	366	2	,	,	PUNCT
ajbmeb-2854	366	3	s.	s.	PROPN
ajbmeb-2854	366	4	(	(	PUNCT
ajbmeb-2854	366	5	1979	1979	NUM
ajbmeb-2854	366	6	)	)	PUNCT
ajbmeb-2854	366	7	.	.	PUNCT
ajbmeb-2854	367	1	imperfect	imperfect	ADJ
ajbmeb-2854	367	2	information	information	NOUN
ajbmeb-2854	367	3	,	,	PUNCT
ajbmeb-2854	367	4	dividend	dividend	NOUN
ajbmeb-2854	367	5	policy	policy	NOUN
ajbmeb-2854	367	6	,	,	PUNCT
ajbmeb-2854	367	7	and	and	CCONJ
ajbmeb-2854	367	8	"	"	PUNCT
ajbmeb-2854	367	9	the	the	DET
ajbmeb-2854	367	10	bird	bird	NOUN
ajbmeb-2854	367	11	in	in	ADP
ajbmeb-2854	367	12	the	the	DET
ajbmeb-2854	367	13	hand	hand	NOUN
ajbmeb-2854	367	14	"	"	PUNCT
ajbmeb-2854	367	15	fallacy	fallacy	NOUN
ajbmeb-2854	367	16	.	.	PUNCT
ajbmeb-2854	368	1	the	the	DET
ajbmeb-2854	368	2	bell	bell	PROPN
ajbmeb-2854	368	3	journal	journal	PROPN
ajbmeb-2854	368	4	of	of	ADP
ajbmeb-2854	368	5	economics	economic	NOUN
ajbmeb-2854	368	6	,	,	PUNCT
ajbmeb-2854	368	7	10	10	NUM
ajbmeb-2854	368	8	(	(	PUNCT
ajbmeb-2854	368	9	1),.259	1),.259	NUM
ajbmeb-2854	368	10	-	-	SYM
ajbmeb-2854	368	11	270	270	NUM
ajbmeb-2854	368	12	.	.	PUNCT
ajbmeb-2854	369	1	14	14	NUM
ajbmeb-2854	369	2	.	.	X
ajbmeb-2854	370	1	black	black	ADJ
ajbmeb-2854	370	2	,	,	PUNCT
ajbmeb-2854	370	3	f.	f.	PROPN
ajbmeb-2854	370	4	(	(	PUNCT
ajbmeb-2854	370	5	1976	1976	NUM
ajbmeb-2854	370	6	)	)	PUNCT
ajbmeb-2854	370	7	.	.	PUNCT
ajbmeb-2854	371	1	dividend	dividend	NOUN
ajbmeb-2854	371	2	puzzle	puzzle	NOUN
ajbmeb-2854	371	3	.	.	PUNCT
ajbmeb-2854	372	1	journal	journal	PROPN
ajbmeb-2854	372	2	of	of	ADP
ajbmeb-2854	372	3	portfolio	portfolio	NOUN
ajbmeb-2854	372	4	management	management	NOUN
ajbmeb-2854	372	5	,	,	PUNCT
ajbmeb-2854	372	6	2	2	NUM
ajbmeb-2854	372	7	(	(	PUNCT
ajbmeb-2854	372	8	2	2	NUM
ajbmeb-2854	372	9	)	)	PUNCT
ajbmeb-2854	372	10	,	,	PUNCT
ajbmeb-2854	372	11	5	5	NUM
ajbmeb-2854	372	12	-	-	SYM
ajbmeb-2854	372	13	8	8	NUM
ajbmeb-2854	372	14	15	15	NUM
ajbmeb-2854	372	15	.	.	PUNCT
ajbmeb-2854	373	1	chen	chen	PROPN
ajbmeb-2854	373	2	,	,	PUNCT
ajbmeb-2854	373	3	g.	g.	PROPN
ajbmeb-2854	373	4	,	,	PUNCT
ajbmeb-2854	373	5	firth	firth	PROPN
ajbmeb-2854	373	6	,	,	PUNCT
ajbmeb-2854	373	7	m.	m.	NOUN
ajbmeb-2854	373	8	,	,	PUNCT
ajbmeb-2854	373	9	&	&	CCONJ
ajbmeb-2854	373	10	gao	gao	PROPN
ajbmeb-2854	373	11	,	,	PUNCT
ajbmeb-2854	373	12	n.	n.	PROPN
ajbmeb-2854	373	13	(	(	PUNCT
ajbmeb-2854	373	14	2002	2002	NUM
ajbmeb-2854	373	15	)	)	PUNCT
ajbmeb-2854	373	16	.	.	PUNCT
ajbmeb-2854	374	1	the	the	DET
ajbmeb-2854	374	2	information	information	NOUN
ajbmeb-2854	374	3	content	content	NOUN
ajbmeb-2854	374	4	of	of	ADP
ajbmeb-2854	374	5	concurrently	concurrently	ADV
ajbmeb-2854	374	6	announced	announce	VERB
ajbmeb-2854	374	7	earnings	earning	NOUN
ajbmeb-2854	374	8	,	,	PUNCT
ajbmeb-2854	374	9	cash	cash	NOUN
ajbmeb-2854	374	10	dividends	dividend	NOUN
ajbmeb-2854	374	11	,	,	PUNCT
ajbmeb-2854	374	12	and	and	CCONJ
ajbmeb-2854	374	13	stock	stock	NOUN
ajbmeb-2854	374	14	dividends	dividend	NOUN
ajbmeb-2854	374	15	:	:	PUNCT
ajbmeb-2854	374	16	an	an	DET
ajbmeb-2854	374	17	investigation	investigation	NOUN
ajbmeb-2854	374	18	of	of	ADP
ajbmeb-2854	374	19	the	the	DET
ajbmeb-2854	374	20	chinese	chinese	ADJ
ajbmeb-2854	374	21	stock	stock	NOUN
ajbmeb-2854	374	22	market	market	NOUN
ajbmeb-2854	374	23	.	.	PUNCT
ajbmeb-2854	375	1	journal	journal	PROPN
ajbmeb-2854	375	2	of	of	ADP
ajbmeb-2854	375	3	international	international	ADJ
ajbmeb-2854	375	4	financial	financial	ADJ
ajbmeb-2854	375	5	management	management	NOUN
ajbmeb-2854	375	6	&	&	CCONJ
ajbmeb-2854	375	7	accounting,13(2	accounting,13(2	PROPN
ajbmeb-2854	375	8	)	)	PUNCT
ajbmeb-2854	375	9	,	,	PUNCT
ajbmeb-2854	375	10	101	101	NUM
ajbmeb-2854	375	11	-	-	SYM
ajbmeb-2854	375	12	124	124	NUM
ajbmeb-2854	375	13	16	16	NUM
ajbmeb-2854	375	14	.	.	PUNCT
ajbmeb-2854	376	1	davenport	davenport	PROPN
ajbmeb-2854	376	2	,	,	PUNCT
ajbmeb-2854	376	3	t.	t.	PROPN
ajbmeb-2854	376	4	&	&	CCONJ
ajbmeb-2854	376	5	pruzac	pruzac	PROPN
ajbmeb-2854	376	6	,	,	PUNCT
ajbmeb-2854	376	7	l.	l.	PROPN
ajbmeb-2854	376	8	(	(	PUNCT
ajbmeb-2854	376	9	2000	2000	NUM
ajbmeb-2854	376	10	.	.	PUNCT
ajbmeb-2854	376	11	)	)	PUNCT
ajbmeb-2854	377	1	working	work	VERB
ajbmeb-2854	377	2	knowledge	knowledge	NOUN
ajbmeb-2854	377	3	:	:	PUNCT
ajbmeb-2854	377	4	how	how	SCONJ
ajbmeb-2854	377	5	organizations	organization	NOUN
ajbmeb-2854	377	6	manage	manage	VERB
ajbmeb-2854	377	7	what	what	PRON
ajbmeb-2854	377	8	they	they	PRON
ajbmeb-2854	377	9	know	know	VERB
ajbmeb-2854	377	10	,	,	PUNCT
ajbmeb-2854	377	11	boston	boston	PROPN
ajbmeb-2854	377	12	:	:	PUNCT
ajbmeb-2854	377	13	harvard	harvard	PROPN
ajbmeb-2854	377	14	business	business	PROPN
ajbmeb-2854	377	15	scholl	scholl	PROPN
ajbmeb-2854	377	16	press	press	PROPN
ajbmeb-2854	377	17	17	17	NUM
ajbmeb-2854	377	18	.	.	PUNCT
ajbmeb-2854	378	1	donaldson	donaldson	PROPN
ajbmeb-2854	378	2	,	,	PUNCT
ajbmeb-2854	378	3	g.	g.	PROPN
ajbmeb-2854	378	4	(	(	PUNCT
ajbmeb-2854	378	5	1961	1961	NUM
ajbmeb-2854	378	6	)	)	PUNCT
ajbmeb-2854	378	7	.	.	PUNCT
ajbmeb-2854	379	1	corporate	corporate	ADJ
ajbmeb-2854	379	2	debt	debt	NOUN
ajbmeb-2854	379	3	capacity	capacity	NOUN
ajbmeb-2854	379	4	:	:	PUNCT
ajbmeb-2854	379	5	a	a	DET
ajbmeb-2854	379	6	study	study	NOUN
ajbmeb-2854	379	7	of	of	ADP
ajbmeb-2854	379	8	corporate	corporate	ADJ
ajbmeb-2854	379	9	debt	debt	NOUN
ajbmeb-2854	379	10	policy	policy	NOUN
ajbmeb-2854	379	11	and	and	CCONJ
ajbmeb-2854	379	12	the	the	DET
ajbmeb-2854	379	13	determination	determination	NOUN
ajbmeb-2854	379	14	of	of	ADP
ajbmeb-2854	379	15	corporate	corporate	ADJ
ajbmeb-2854	379	16	debt	debt	NOUN
ajbmeb-2854	379	17	capacity	capacity	NOUN
ajbmeb-2854	379	18	.	.	PUNCT
ajbmeb-2854	380	1	boston	boston	PROPN
ajbmeb-2854	380	2	:	:	PUNCT
ajbmeb-2854	380	3	division	division	NOUN
ajbmeb-2854	380	4	of	of	ADP
ajbmeb-2854	380	5	research	research	NOUN
ajbmeb-2854	380	6	,	,	PUNCT
ajbmeb-2854	380	7	graduate	graduate	NOUN
ajbmeb-2854	380	8	school	school	NOUN
ajbmeb-2854	380	9	of	of	ADP
ajbmeb-2854	380	10	business	business	PROPN
ajbmeb-2854	380	11	administration	administration	PROPN
ajbmeb-2854	380	12	,	,	PUNCT
ajbmeb-2854	380	13	harvard	harvard	PROPN
ajbmeb-2854	380	14	university	university	PROPN
ajbmeb-2854	380	15	.	.	PUNCT
ajbmeb-2854	381	1	[	[	X
ajbmeb-2854	381	2	google	google	NOUN
ajbmeb-2854	381	3	scholar	scholar	NOUN
ajbmeb-2854	381	4	]	]	PUNCT
ajbmeb-2854	381	5	18	18	NUM
ajbmeb-2854	381	6	.	.	PUNCT
ajbmeb-2854	382	1	deangelo	deangelo	PROPN
ajbmeb-2854	382	2	,	,	PUNCT
ajbmeb-2854	382	3	h.	h.	PROPN
ajbmeb-2854	382	4	,	,	PUNCT
ajbmeb-2854	382	5	deangelo	deangelo	PROPN
ajbmeb-2854	382	6	,	,	PUNCT
ajbmeb-2854	382	7	l.	l.	PROPN
ajbmeb-2854	382	8	,	,	PUNCT
ajbmeb-2854	382	9	&	&	CCONJ
ajbmeb-2854	382	10	stulz	stulz	PROPN
ajbmeb-2854	382	11	,	,	PUNCT
ajbmeb-2854	382	12	r.	r.	PROPN
ajbmeb-2854	382	13	(	(	PUNCT
ajbmeb-2854	382	14	2006	2006	NUM
ajbmeb-2854	382	15	)	)	PUNCT
ajbmeb-2854	382	16	.	.	PUNCT
ajbmeb-2854	383	1	dividend	dividend	NOUN
ajbmeb-2854	383	2	policy	policy	NOUN
ajbmeb-2854	383	3	and	and	CCONJ
ajbmeb-2854	383	4	the	the	DET
ajbmeb-2854	383	5	earned	earn	VERB
ajbmeb-2854	383	6	/	/	SYM
ajbmeb-2854	383	7	contributed	contribute	VERB
ajbmeb-2854	383	8	capital	capital	NOUN
ajbmeb-2854	383	9	mix	mix	NOUN
ajbmeb-2854	383	10	:	:	PUNCT
ajbmeb-2854	383	11	a	a	DET
ajbmeb-2854	383	12	test	test	NOUN
ajbmeb-2854	383	13	of	of	ADP
ajbmeb-2854	383	14	the	the	DET
ajbmeb-2854	383	15	life	life	NOUN
ajbmeb-2854	383	16	-	-	PUNCT
ajbmeb-2854	383	17	cycle	cycle	NOUN
ajbmeb-2854	383	18	theory	theory	NOUN
ajbmeb-2854	383	19	.	.	PUNCT
ajbmeb-2854	384	1	journal	journal	PROPN
ajbmeb-2854	384	2	of	of	ADP
ajbmeb-2854	384	3	financial	financial	ADJ
ajbmeb-2854	384	4	economics	economic	NOUN
ajbmeb-2854	384	5	,	,	PUNCT
ajbmeb-2854	384	6	81	81	NUM
ajbmeb-2854	384	7	,	,	PUNCT
ajbmeb-2854	384	8	227	227	NUM
ajbmeb-2854	384	9	-	-	SYM
ajbmeb-2854	384	10	254	254	NUM
ajbmeb-2854	384	11	19	19	NUM
ajbmeb-2854	384	12	.	.	PUNCT
ajbmeb-2854	385	1	fama	fama	PROPN
ajbmeb-2854	385	2	,	,	PUNCT
ajbmeb-2854	385	3	e.	e.	PROPN
ajbmeb-2854	385	4	(	(	PUNCT
ajbmeb-2854	385	5	1991	1991	NUM
ajbmeb-2854	385	6	)	)	PUNCT
ajbmeb-2854	385	7	.	.	PUNCT
ajbmeb-2854	386	1	efficient	efficient	ADJ
ajbmeb-2854	386	2	capital	capital	PROPN
ajbmeb-2854	386	3	markets	markets	PROPN
ajbmeb-2854	386	4	ii	ii	PROPN
ajbmeb-2854	386	5	,	,	PUNCT
ajbmeb-2854	386	6	journal	journal	NOUN
ajbmeb-2854	386	7	of	of	ADP
ajbmeb-2854	386	8	finance	finance	NOUN
ajbmeb-2854	386	9	,	,	PUNCT
ajbmeb-2854	386	10	46	46	NUM
ajbmeb-2854	386	11	(	(	PUNCT
ajbmeb-2854	386	12	5	5	NUM
ajbmeb-2854	386	13	)	)	PUNCT
ajbmeb-2854	386	14	,	,	PUNCT
ajbmeb-2854	386	15	1575	1575	NUM
ajbmeb-2854	386	16	-	-	SYM
ajbmeb-2854	386	17	1671	1671	NUM
ajbmeb-2854	386	18	.	.	PUNCT
ajbmeb-2854	387	1	20	20	NUM
ajbmeb-2854	387	2	.	.	X
ajbmeb-2854	387	3	gharaibeh	gharaibeh	NOUN
ajbmeb-2854	387	4	,	,	PUNCT
ajbmeb-2854	387	5	a.	a.	NOUN
ajbmeb-2854	387	6	m.	m.	NOUN
ajbmeb-2854	387	7	o.	o.	PROPN
ajbmeb-2854	387	8	,	,	PUNCT
ajbmeb-2854	387	9	&	&	CCONJ
ajbmeb-2854	387	10	qader	qader	PROPN
ajbmeb-2854	387	11	,	,	PUNCT
ajbmeb-2854	387	12	a.	a.	PROPN
ajbmeb-2854	387	13	a.	a.	PROPN
ajbmeb-2854	387	14	a.	a.	NOUN
ajbmeb-2854	387	15	a.	a.	PROPN
ajbmeb-2854	387	16	(	(	PUNCT
ajbmeb-2854	387	17	2017	2017	NUM
ajbmeb-2854	387	18	)	)	PUNCT
ajbmeb-2854	387	19	.	.	PUNCT
ajbmeb-2854	388	1	factors	factor	NOUN
ajbmeb-2854	388	2	influencing	influence	VERB
ajbmeb-2854	388	3	firm	firm	ADJ
ajbmeb-2854	388	4	value	value	NOUN
ajbmeb-2854	388	5	as	as	SCONJ
ajbmeb-2854	388	6	measured	measure	VERB
ajbmeb-2854	388	7	by	by	ADP
ajbmeb-2854	388	8	the	the	DET
ajbmeb-2854	388	9	tobin	tobin	NOUN
ajbmeb-2854	388	10	’s	’s	PART
ajbmeb-2854	388	11	q	q	NOUN
ajbmeb-2854	388	12	:	:	PUNCT
ajbmeb-2854	388	13	empirical	empirical	ADJ
ajbmeb-2854	388	14	evidence	evidence	NOUN
ajbmeb-2854	388	15	from	from	ADP
ajbmeb-2854	388	16	the	the	DET
ajbmeb-2854	388	17	saudi	saudi	ADJ
ajbmeb-2854	388	18	stock	stock	NOUN
ajbmeb-2854	388	19	exchange	exchange	PROPN
ajbmeb-2854	388	20	(	(	PUNCT
ajbmeb-2854	388	21	tadawul	tadawul	PROPN
ajbmeb-2854	388	22	)	)	PUNCT
ajbmeb-2854	388	23	.	.	PUNCT
ajbmeb-2854	389	1	international	international	ADJ
ajbmeb-2854	389	2	journal	journal	PROPN
ajbmeb-2854	389	3	of	of	ADP
ajbmeb-2854	389	4	applied	apply	VERB
ajbmeb-2854	389	5	business	business	NOUN
ajbmeb-2854	389	6	and	and	CCONJ
ajbmeb-2854	389	7	economic	economic	ADJ
ajbmeb-2854	389	8	research	research	NOUN
ajbmeb-2854	389	9	,	,	PUNCT
ajbmeb-2854	389	10	15(6	15(6	NUM
ajbmeb-2854	389	11	)	)	PUNCT
ajbmeb-2854	389	12	,	,	PUNCT
ajbmeb-2854	389	13	333	333	NUM
ajbmeb-2854	389	14	-	-	SYM
ajbmeb-2854	389	15	358	358	NUM
ajbmeb-2854	389	16	.	.	PUNCT
ajbmeb-2854	390	1	21	21	NUM
ajbmeb-2854	390	2	.	.	PUNCT
ajbmeb-2854	391	1	gordon	gordon	PROPN
ajbmeb-2854	391	2	,	,	PUNCT
ajbmeb-2854	391	3	m.	m.	NOUN
ajbmeb-2854	391	4	j.	j.	PROPN
ajbmeb-2854	391	5	(	(	PUNCT
ajbmeb-2854	391	6	1963	1963	NUM
ajbmeb-2854	391	7	)	)	PUNCT
ajbmeb-2854	391	8	.	.	PUNCT
ajbmeb-2854	392	1	optimal	optimal	ADJ
ajbmeb-2854	392	2	investment	investment	NOUN
ajbmeb-2854	392	3	and	and	CCONJ
ajbmeb-2854	392	4	financing	financing	NOUN
ajbmeb-2854	392	5	policy	policy	NOUN
ajbmeb-2854	392	6	.	.	PUNCT
ajbmeb-2854	393	1	the	the	DET
ajbmeb-2854	393	2	journal	journal	NOUN
ajbmeb-2854	393	3	of	of	ADP
ajbmeb-2854	393	4	finance,18(2	finance,18(2	PROPN
ajbmeb-2854	393	5	)	)	PUNCT
ajbmeb-2854	393	6	,	,	PUNCT
ajbmeb-2854	393	7	264	264	NUM
ajbmeb-2854	393	8	-	-	SYM
ajbmeb-2854	393	9	272	272	NUM
ajbmeb-2854	393	10	.	.	PUNCT
ajbmeb-2854	393	11	22	22	NUM
ajbmeb-2854	393	12	.	.	PUNCT
ajbmeb-2854	394	1	gitman	gitman	PROPN
ajbmeb-2854	394	2	,	,	PUNCT
ajbmeb-2854	394	3	l.	l.	PROPN
ajbmeb-2854	394	4	j.	j.	PROPN
ajbmeb-2854	394	5	(	(	PUNCT
ajbmeb-2854	394	6	2003	2003	NUM
ajbmeb-2854	394	7	)	)	PUNCT
ajbmeb-2854	394	8	.	.	PUNCT
ajbmeb-2854	395	1	factors	factor	NOUN
ajbmeb-2854	395	2	influencing	influence	VERB
ajbmeb-2854	395	3	access	access	NOUN
ajbmeb-2854	395	4	to	to	ADP
ajbmeb-2854	395	5	finance	finance	NOUN
ajbmeb-2854	395	6	by	by	ADP
ajbmeb-2854	395	7	smes	sme	NOUN
ajbmeb-2854	395	8	in	in	ADP
ajbmeb-2854	395	9	mozambique	mozambique	PROPN
ajbmeb-2854	395	10	:	:	PUNCT
ajbmeb-2854	395	11	a	a	DET
ajbmeb-2854	395	12	case	case	NOUN
ajbmeb-2854	395	13	of	of	ADP
ajbmeb-2854	395	14	smes	sme	NOUN
ajbmeb-2854	395	15	in	in	ADP
ajbmeb-2854	395	16	maputo	maputo	PROPN
ajbmeb-2854	395	17	central	central	PROPN
ajbmeb-2854	395	18	business	business	PROPN
ajbmeb-2854	395	19	district	district	PROPN
ajbmeb-2854	395	20	.	.	PUNCT
ajbmeb-2854	396	1	journal	journal	PROPN
ajbmeb-2854	396	2	of	of	ADP
ajbmeb-2854	396	3	innovation	innovation	NOUN
ajbmeb-2854	396	4	and	and	CCONJ
ajbmeb-2854	396	5	entrepreneurship	entrepreneurship	NOUN
ajbmeb-2854	396	6	,	,	PUNCT
ajbmeb-2854	396	7	5	5	NUM
ajbmeb-2854	396	8	(	(	PUNCT
ajbmeb-2854	396	9	13	13	NUM
ajbmeb-2854	396	10	)	)	PUNCT
ajbmeb-2854	396	11	.	.	PUNCT
ajbmeb-2854	397	1	23	23	NUM
ajbmeb-2854	397	2	.	.	PUNCT
ajbmeb-2854	398	1	gitman	gitman	PROPN
ajbmeb-2854	398	2	,	,	PUNCT
ajbmeb-2854	398	3	l.j	l.j	PROPN
ajbmeb-2854	398	4	.	.	PROPN
ajbmeb-2854	398	5	(	(	PUNCT
ajbmeb-2854	398	6	2010	2010	NUM
ajbmeb-2854	398	7	)	)	PUNCT
ajbmeb-2854	398	8	.	.	PUNCT
ajbmeb-2854	399	1	principles	principle	NOUN
ajbmeb-2854	399	2	of	of	ADP
ajbmeb-2854	399	3	managerial	managerial	ADJ
ajbmeb-2854	399	4	finance	finance	NOUN
ajbmeb-2854	399	5	.	.	PUNCT
ajbmeb-2854	400	1	mexico	mexico	PROPN
ajbmeb-2854	400	2	:	:	PUNCT
ajbmeb-2854	400	3	addison	addison	PROPN
ajbmeb-2854	400	4	-	-	PUNCT
ajbmeb-2854	400	5	wesley	wesley	PROPN
ajbmeb-2854	400	6	24	24	NUM
ajbmeb-2854	400	7	.	.	PUNCT
ajbmeb-2854	401	1	hamada	hamada	PROPN
ajbmeb-2854	401	2	,	,	PUNCT
ajbmeb-2854	401	3	r.(1969	r.(1969	PROPN
ajbmeb-2854	401	4	)	)	PUNCT
ajbmeb-2854	401	5	,	,	PUNCT
ajbmeb-2854	401	6	portfolio	portfolio	NOUN
ajbmeb-2854	401	7	analysis	analysis	NOUN
ajbmeb-2854	401	8	,	,	PUNCT
ajbmeb-2854	401	9	market	market	NOUN
ajbmeb-2854	401	10	equilibrium	equilibrium	NOUN
ajbmeb-2854	401	11	and	and	CCONJ
ajbmeb-2854	401	12	corporate	corporate	ADJ
ajbmeb-2854	401	13	finance	finance	NOUN
ajbmeb-2854	401	14	.	.	PUNCT
ajbmeb-2854	402	1	journal	journal	PROPN
ajbmeb-2854	402	2	of	of	ADP
ajbmeb-2854	402	3	finance	finance	NOUN
ajbmeb-2854	402	4	,	,	PUNCT
ajbmeb-2854	402	5	24,13‐31	24,13‐31	NUM
ajbmeb-2854	402	6	.	.	PUNCT
ajbmeb-2854	403	1	https://scholar.google.com/scholar_lookup?title=corporate+debt+capacity:+a+study+of+corporate+debt+policy+and+the+determination+of+corporate+debt+capacity&author=donaldson,+gordon&publication_year=1961	https://scholar.google.com/scholar_lookup?title=corporate+debt+capacity:+a+study+of+corporate+debt+policy+and+the+determination+of+corporate+debt+capacity&author=donaldson,+gordon&publication_year=1961	PROPN
ajbmeb-2854	403	2	american	american	PROPN
ajbmeb-2854	403	3	journal	journal	PROPN
ajbmeb-2854	403	4	of	of	ADP
ajbmeb-2854	403	5	business	business	NOUN
ajbmeb-2854	403	6	management	management	NOUN
ajbmeb-2854	403	7	,	,	PUNCT
ajbmeb-2854	403	8	economics	economic	NOUN
ajbmeb-2854	403	9	and	and	CCONJ
ajbmeb-2854	403	10	banking	banking	NOUN
ajbmeb-2854	403	11	volume	volume	NOUN
ajbmeb-2854	403	12	35	35	NUM
ajbmeb-2854	403	13	april	april	PROPN
ajbmeb-2854	403	14	2025	2025	NUM
ajbmeb-2854	403	15	p	p	NOUN
ajbmeb-2854	403	16	a	a	DET
ajbmeb-2854	403	17	g	g	NOUN
ajbmeb-2854	403	18	e	e	NOUN
ajbmeb-2854	404	1	|	|	ADV
ajbmeb-2854	404	2	62	62	NUM
ajbmeb-2854	404	3	www.americanjournal.org	www.americanjournal.org	NOUN
ajbmeb-2854	404	4	25	25	NUM
ajbmeb-2854	404	5	.	.	PUNCT
ajbmeb-2854	405	1	helfert	helfert	PROPN
ajbmeb-2854	405	2	,	,	PUNCT
ajbmeb-2854	405	3	e.	e.	PROPN
ajbmeb-2854	405	4	(	(	PUNCT
ajbmeb-2854	405	5	1996	1996	NUM
ajbmeb-2854	405	6	)	)	PUNCT
ajbmeb-2854	405	7	.	.	PUNCT
ajbmeb-2854	406	1	valuation	valuation	NOUN
ajbmeb-2854	406	2	,	,	PUNCT
ajbmeb-2854	406	3	concepts	concept	NOUN
ajbmeb-2854	406	4	and	and	CCONJ
ajbmeb-2854	406	5	practice	practice	NOUN
ajbmeb-2854	406	6	.	.	PUNCT
ajbmeb-2854	407	1	belmont	belmont	PROPN
ajbmeb-2854	407	2	califonia	califonia	PROPN
ajbmeb-2854	407	3	:	:	PUNCT
ajbmeb-2854	407	4	wadsworth	wadsworth	PROPN
ajbmeb-2854	407	5	publishing	publishing	PROPN
ajbmeb-2854	407	6	co.	co.	PROPN
ajbmeb-2854	407	7	inc	inc	PROPN
ajbmeb-2854	407	8	.	.	PROPN
ajbmeb-2854	407	9	26	26	NUM
ajbmeb-2854	407	10	.	.	PUNCT
ajbmeb-2854	407	11	irum	irum	PROPN
ajbmeb-2854	407	12	,	,	PUNCT
ajbmeb-2854	407	13	m.	m.	NOUN
ajbmeb-2854	407	14	,	,	PUNCT
ajbmeb-2854	407	15	rafique	rafique	PROPN
ajbmeb-2854	407	16	,	,	PUNCT
ajbmeb-2854	407	17	m.	m.	NOUN
ajbmeb-2854	407	18	,	,	PUNCT
ajbmeb-2854	407	19	&	&	CCONJ
ajbmeb-2854	407	20	hassan	hassan	PROPN
ajbmeb-2854	407	21	,	,	PUNCT
ajbmeb-2854	407	22	a.	a.	NOUN
ajbmeb-2854	407	23	(	(	PUNCT
ajbmeb-2854	407	24	2012	2012	NUM
ajbmeb-2854	407	25	)	)	PUNCT
ajbmeb-2854	407	26	.	.	PUNCT
ajbmeb-2854	408	1	effect	effect	NOUN
ajbmeb-2854	408	2	of	of	ADP
ajbmeb-2854	408	3	dividend	dividend	NOUN
ajbmeb-2854	408	4	announcement	announcement	NOUN
ajbmeb-2854	408	5	on	on	ADP
ajbmeb-2854	408	6	share	share	NOUN
ajbmeb-2854	408	7	prices	price	NOUN
ajbmeb-2854	408	8	of	of	ADP
ajbmeb-2854	408	9	petroleum	petroleum	NOUN
ajbmeb-2854	408	10	industry	industry	NOUN
ajbmeb-2854	408	11	of	of	ADP
ajbmeb-2854	408	12	pakistan	pakistan	PROPN
ajbmeb-2854	408	13	.	.	PUNCT
ajbmeb-2854	409	1	journal	journal	PROPN
ajbmeb-2854	409	2	of	of	ADP
ajbmeb-2854	409	3	basic	basic	ADJ
ajbmeb-2854	409	4	and	and	CCONJ
ajbmeb-2854	409	5	applied	apply	VERB
ajbmeb-2854	409	6	scientific	scientific	ADJ
ajbmeb-2854	409	7	research	research	NOUN
ajbmeb-2854	409	8	,	,	PUNCT
ajbmeb-2854	409	9	2(7	2(7	NUM
ajbmeb-2854	409	10	)	)	PUNCT
ajbmeb-2854	409	11	,	,	PUNCT
ajbmeb-2854	409	12	6503	6503	NUM
ajbmeb-2854	409	13	-	-	SYM
ajbmeb-2854	409	14	6511	6511	NUM
ajbmeb-2854	409	15	27	27	NUM
ajbmeb-2854	409	16	.	.	PUNCT
ajbmeb-2854	410	1	jensen	jensen	PROPN
ajbmeb-2854	410	2	,	,	PUNCT
ajbmeb-2854	410	3	m.	m.	PROPN
ajbmeb-2854	410	4	c.	c.	PROPN
ajbmeb-2854	410	5	,	,	PUNCT
ajbmeb-2854	410	6	&	&	CCONJ
ajbmeb-2854	410	7	william	william	PROPN
ajbmeb-2854	410	8	h.	h.	PROPN
ajbmeb-2854	410	9	m.	m.	PROPN
ajbmeb-2854	410	10	1976	1976	NUM
ajbmeb-2854	410	11	.	.	PUNCT
ajbmeb-2854	411	1	theory	theory	NOUN
ajbmeb-2854	411	2	of	of	ADP
ajbmeb-2854	411	3	the	the	DET
ajbmeb-2854	411	4	firm	firm	NOUN
ajbmeb-2854	411	5	:	:	PUNCT
ajbmeb-2854	411	6	managerial	managerial	ADJ
ajbmeb-2854	411	7	behavior	behavior	NOUN
ajbmeb-2854	411	8	,	,	PUNCT
ajbmeb-2854	411	9	agency	agency	NOUN
ajbmeb-2854	411	10	costs	cost	NOUN
ajbmeb-2854	411	11	,	,	PUNCT
ajbmeb-2854	411	12	and	and	CCONJ
ajbmeb-2854	411	13	ownership	ownership	NOUN
ajbmeb-2854	411	14	structure	structure	NOUN
ajbmeb-2854	411	15	.	.	PUNCT
ajbmeb-2854	412	1	the	the	DET
ajbmeb-2854	412	2	journal	journal	NOUN
ajbmeb-2854	412	3	of	of	ADP
ajbmeb-2854	412	4	financial	financial	ADJ
ajbmeb-2854	412	5	economics	economic	NOUN
ajbmeb-2854	412	6	3	3	NUM
ajbmeb-2854	412	7	:	:	PUNCT
ajbmeb-2854	412	8	305–60	305–60	NUM
ajbmeb-2854	412	9	.	.	PUNCT
ajbmeb-2854	413	1	[	[	X
ajbmeb-2854	413	2	google	google	NOUN
ajbmeb-2854	413	3	scholar	scholar	NOUN
ajbmeb-2854	413	4	]	]	PUNCT
ajbmeb-2854	414	1	[	[	X
ajbmeb-2854	414	2	crossref	crossref	NOUN
ajbmeb-2854	414	3	28	28	NUM
ajbmeb-2854	414	4	.	.	PUNCT
ajbmeb-2854	415	1	kanwal	kanwal	PROPN
ajbmeb-2854	415	2	,	,	PUNCT
ajbmeb-2854	415	3	m.	m.	NOUN
ajbmeb-2854	415	4	,	,	PUNCT
ajbmeb-2854	415	5	&	&	CCONJ
ajbmeb-2854	415	6	hameed	hameed	PROPN
ajbmeb-2854	415	7	,	,	PUNCT
ajbmeb-2854	415	8	s.	s.	PROPN
ajbmeb-2854	415	9	(	(	PUNCT
ajbmeb-2854	415	10	2017	2017	NUM
ajbmeb-2854	415	11	)	)	PUNCT
ajbmeb-2854	415	12	.	.	PUNCT
ajbmeb-2854	416	1	the	the	DET
ajbmeb-2854	416	2	relationship	relationship	NOUN
ajbmeb-2854	416	3	between	between	ADP
ajbmeb-2854	416	4	dividend	dividend	NOUN
ajbmeb-2854	416	5	payout	payout	NOUN
ajbmeb-2854	416	6	and	and	CCONJ
ajbmeb-2854	416	7	firm	firm	ADJ
ajbmeb-2854	416	8	financial	financial	ADJ
ajbmeb-2854	416	9	performance	performance	NOUN
ajbmeb-2854	416	10	.	.	PUNCT
ajbmeb-2854	417	1	research	research	NOUN
ajbmeb-2854	417	2	in	in	ADP
ajbmeb-2854	417	3	business	business	NOUN
ajbmeb-2854	417	4	and	and	CCONJ
ajbmeb-2854	417	5	management	management	NOUN
ajbmeb-2854	417	6	,	,	PUNCT
ajbmeb-2854	417	7	4(1	4(1	NOUN
ajbmeb-2854	417	8	)	)	PUNCT
ajbmeb-2854	417	9	,	,	PUNCT
ajbmeb-2854	417	10	513.https://doi.org/10.5296/rbm.v4i1.10784	513.https://doi.org/10.5296/rbm.v4i1.10784	PROPN
ajbmeb-2854	417	11	29	29	NUM
ajbmeb-2854	417	12	.	.	PUNCT
ajbmeb-2854	418	1	karanja	karanja	PROPN
ajbmeb-2854	418	2	,	,	PUNCT
ajbmeb-2854	418	3	j.	j.	PROPN
ajbmeb-2854	418	4	(	(	PUNCT
ajbmeb-2854	418	5	1987	1987	NUM
ajbmeb-2854	418	6	)	)	PUNCT
ajbmeb-2854	418	7	.	.	PUNCT
ajbmeb-2854	419	1	the	the	DET
ajbmeb-2854	419	2	dividend	dividend	NOUN
ajbmeb-2854	419	3	practices	practice	NOUN
ajbmeb-2854	419	4	of	of	ADP
ajbmeb-2854	419	5	publicly	publicly	ADV
ajbmeb-2854	419	6	quoted	quote	VERB
ajbmeb-2854	419	7	companies	company	NOUN
ajbmeb-2854	419	8	in	in	ADP
ajbmeb-2854	419	9	kenya	kenya	PROPN
ajbmeb-2854	419	10	.	.	PUNCT
ajbmeb-2854	420	1	unpublished	unpublished	ADJ
ajbmeb-2854	420	2	mba	mba	NOUN
ajbmeb-2854	420	3	project	project	NOUN
ajbmeb-2854	420	4	,	,	PUNCT
ajbmeb-2854	420	5	university	university	NOUN
ajbmeb-2854	420	6	of	of	ADP
ajbmeb-2854	420	7	nairobi.khou	nairobi.khou	PROPN
ajbmeb-2854	420	8	30	30	NUM
ajbmeb-2854	420	9	.	.	PUNCT
ajbmeb-2854	421	1	kasmiati	kasmiati	PROPN
ajbmeb-2854	421	2	,	,	PUNCT
ajbmeb-2854	421	3	m.	m.	NOUN
ajbmeb-2854	421	4	,	,	PUNCT
ajbmeb-2854	421	5	&	&	CCONJ
ajbmeb-2854	421	6	santosa	santosa	PROPN
ajbmeb-2854	421	7	,	,	PUNCT
ajbmeb-2854	421	8	p.w	p.w	PROPN
ajbmeb-2854	421	9	.	.	PUNCT
ajbmeb-2854	421	10	(	(	PUNCT
ajbmeb-2854	421	11	2019	2019	NUM
ajbmeb-2854	421	12	)	)	PUNCT
ajbmeb-2854	421	13	.	.	PUNCT
ajbmeb-2854	422	1	the	the	DET
ajbmeb-2854	422	2	effect	effect	NOUN
ajbmeb-2854	422	3	of	of	ADP
ajbmeb-2854	422	4	earning	earn	VERB
ajbmeb-2854	422	5	information	information	NOUN
ajbmeb-2854	422	6	,	,	PUNCT
ajbmeb-2854	422	7	cash	cash	NOUN
ajbmeb-2854	422	8	flow	flow	NOUN
ajbmeb-2854	422	9	components	component	NOUN
ajbmeb-2854	422	10	,	,	PUNCT
ajbmeb-2854	422	11	and	and	CCONJ
ajbmeb-2854	422	12	financing	financing	NOUN
ajbmeb-2854	422	13	decision	decision	NOUN
ajbmeb-2854	422	14	on	on	ADP
ajbmeb-2854	422	15	stock	stock	NOUN
ajbmeb-2854	422	16	return	return	NOUN
ajbmeb-2854	422	17	:	:	PUNCT
ajbmeb-2854	422	18	empirical	empirical	ADJ
ajbmeb-2854	422	19	evidence	evidence	NOUN
ajbmeb-2854	422	20	on	on	ADP
ajbmeb-2854	422	21	indonesia	indonesia	PROPN
ajbmeb-2854	422	22	stock	stock	PROPN
ajbmeb-2854	422	23	exchange	exchange	PROPN
ajbmeb-2854	422	24	.	.	PUNCT
ajbmeb-2854	423	1	journal	journal	PROPN
ajbmeb-2854	423	2	of	of	ADP
ajbmeb-2854	423	3	economics	economic	NOUN
ajbmeb-2854	423	4	,	,	PUNCT
ajbmeb-2854	423	5	business	business	NOUN
ajbmeb-2854	423	6	and	and	CCONJ
ajbmeb-2854	423	7	accountancy	accountancy	NOUN
ajbmeb-2854	423	8	ventura	ventura	PROPN
ajbmeb-2854	423	9	,	,	PUNCT
ajbmeb-2854	423	10	22(2).https://doi.org/10.14414	22(2).https://doi.org/10.14414	NUM
ajbmeb-2854	423	11	/	/	SYM
ajbmeb-2854	423	12	jebav.v22i2.1638	jebav.v22i2.1638	PROPN
ajbmeb-2854	423	13	31	31	NUM
ajbmeb-2854	423	14	.	.	PUNCT
ajbmeb-2854	424	1	khan	khan	PROPN
ajbmeb-2854	424	2	,	,	PUNCT
ajbmeb-2854	424	3	m.	m.	NOUN
ajbmeb-2854	424	4	n.	n.	PROPN
ajbmeb-2854	424	5	,	,	PUNCT
ajbmeb-2854	424	6	naeem	naeem	PROPN
ajbmeb-2854	424	7	,	,	PUNCT
ajbmeb-2854	424	8	m.	m.	NOUN
ajbmeb-2854	424	9	u.	u.	PROPN
ajbmeb-2854	424	10	,	,	PUNCT
ajbmeb-2854	424	11	rizwan	rizwan	PROPN
ajbmeb-2854	424	12	,	,	PUNCT
ajbmeb-2854	424	13	m.	m.	NOUN
ajbmeb-2854	424	14	,	,	PUNCT
ajbmeb-2854	424	15	&	&	CCONJ
ajbmeb-2854	424	16	salman	salman	PROPN
ajbmeb-2854	424	17	,	,	PUNCT
ajbmeb-2854	424	18	m.	m.	NOUN
ajbmeb-2854	424	19	(	(	PUNCT
ajbmeb-2854	424	20	2016	2016	NUM
ajbmeb-2854	424	21	)	)	PUNCT
ajbmeb-2854	424	22	.	.	PUNCT
ajbmeb-2854	425	1	factors	factor	NOUN
ajbmeb-2854	425	2	affecting	affect	VERB
ajbmeb-2854	425	3	the	the	DET
ajbmeb-2854	425	4	firm	firm	ADJ
ajbmeb-2854	425	5	dividend	dividend	NOUN
ajbmeb-2854	425	6	policy	policy	NOUN
ajbmeb-2854	425	7	:	:	PUNCT
ajbmeb-2854	425	8	an	an	DET
ajbmeb-2854	425	9	empirical	empirical	ADJ
ajbmeb-2854	425	10	evidence	evidence	NOUN
ajbmeb-2854	425	11	from	from	ADP
ajbmeb-2854	425	12	textile	textile	NOUN
ajbmeb-2854	425	13	sector	sector	NOUN
ajbmeb-2854	425	14	of	of	ADP
ajbmeb-2854	425	15	pakistan	pakistan	PROPN
ajbmeb-2854	425	16	.	.	PUNCT
ajbmeb-2854	426	1	international	international	ADJ
ajbmeb-2854	426	2	journal	journal	PROPN
ajbmeb-2854	426	3	of	of	ADP
ajbmeb-2854	426	4	advanced	advanced	ADJ
ajbmeb-2854	426	5	scientific	scientific	ADJ
ajbmeb-2854	426	6	research	research	NOUN
ajbmeb-2854	426	7	and	and	CCONJ
ajbmeb-2854	426	8	management	management	NOUN
ajbmeb-2854	426	9	,	,	PUNCT
ajbmeb-2854	426	10	1(5	1(5	NUM
ajbmeb-2854	426	11	)	)	PUNCT
ajbmeb-2854	426	12	,	,	PUNCT
ajbmeb-2854	426	13	144	144	NUM
ajbmeb-2854	426	14	-	-	SYM
ajbmeb-2854	426	15	149	149	NUM
ajbmeb-2854	426	16	.	.	PUNCT
ajbmeb-2854	427	1	32	32	NUM
ajbmeb-2854	427	2	.	.	PUNCT
ajbmeb-2854	428	1	khan	khan	PROPN
ajbmeb-2854	428	2	,	,	PUNCT
ajbmeb-2854	428	3	m.	m.	NOUN
ajbmeb-2854	428	4	n.	n.	PROPN
ajbmeb-2854	428	5	,	,	PUNCT
ajbmeb-2854	428	6	babar	babar	PROPN
ajbmeb-2854	428	7	n.	n.	PROPN
ajbmeb-2854	428	8	,	,	PUNCT
ajbmeb-2854	428	9	fahad	fahad	PROPN
ajbmeb-2854	428	10	i.	i.	PROPN
ajbmeb-2854	428	11	,	,	PUNCT
ajbmeb-2854	428	12	muhammad	muhammad	PROPN
ajbmeb-2854	428	13	s.	s.	PROPN
ajbmeb-2854	428	14	,	,	PUNCT
ajbmeb-2854	428	15	&	&	CCONJ
ajbmeb-2854	428	16	hafiz	hafiz	PROPN
ajbmeb-2854	428	17	,	,	PUNCT
ajbmeb-2854	428	18	m.	m.	PROPN
ajbmeb-2854	428	19	i.	i.	PROPN
ajbmeb-2854	428	20	s.	s.	PROPN
ajbmeb-2854	428	21	g.	g.	PROPN
ajbmeb-2854	428	22	(	(	PUNCT
ajbmeb-2854	428	23	2016	2016	NUM
ajbmeb-2854	428	24	)	)	PUNCT
ajbmeb-2854	428	25	.	.	PUNCT
ajbmeb-2854	429	1	impact	impact	NOUN
ajbmeb-2854	429	2	of	of	ADP
ajbmeb-2854	429	3	dividend	dividend	NOUN
ajbmeb-2854	429	4	policy	policy	NOUN
ajbmeb-2854	429	5	on	on	ADP
ajbmeb-2854	429	6	firm	firm	ADJ
ajbmeb-2854	429	7	performance	performance	NOUN
ajbmeb-2854	429	8	:	:	PUNCT
ajbmeb-2854	429	9	an	an	DET
ajbmeb-2854	429	10	empirical	empirical	ADJ
ajbmeb-2854	429	11	evidence	evidence	NOUN
ajbmeb-2854	429	12	from	from	ADP
ajbmeb-2854	429	13	pakistan	pakistan	PROPN
ajbmeb-2854	429	14	stock	stock	PROPN
ajbmeb-2854	429	15	exchange	exchange	PROPN
ajbmeb-2854	429	16	.	.	PUNCT
ajbmeb-2854	430	1	american	american	ADJ
ajbmeb-2854	430	2	journal	journal	PROPN
ajbmeb-2854	430	3	of	of	ADP
ajbmeb-2854	430	4	economics	economic	NOUN
ajbmeb-2854	430	5	,	,	PUNCT
ajbmeb-2854	430	6	finance	finance	NOUN
ajbmeb-2854	430	7	and	and	CCONJ
ajbmeb-2854	430	8	management	management	NOUN
ajbmeb-2854	430	9	2	2	NUM
ajbmeb-2854	430	10	:	:	PUNCT
ajbmeb-2854	430	11	16–25	16–25	NUM
ajbmeb-2854	430	12	.	.	PUNCT
ajbmeb-2854	431	1	[	[	X
ajbmeb-2854	431	2	google	google	NOUN
ajbmeb-2854	431	3	scholar	scholar	NOUN
ajbmeb-2854	431	4	]	]	PUNCT
ajbmeb-2854	431	5	33	33	NUM
ajbmeb-2854	431	6	.	.	PUNCT
ajbmeb-2854	432	1	khan	khan	PROPN
ajbmeb-2854	432	2	,	,	PUNCT
ajbmeb-2854	432	3	k.	k.	PROPN
ajbmeb-2854	432	4	,	,	PUNCT
ajbmeb-2854	432	5	lamrani	lamrani	PROPN
ajbmeb-2854	432	6	,	,	PUNCT
ajbmeb-2854	432	7	h.	h.	PROPN
ajbmeb-2854	432	8	c.	c.	PROPN
ajbmeb-2854	432	9	,	,	PUNCT
ajbmeb-2854	432	10	&	&	CCONJ
ajbmeb-2854	432	11	khalid	khalid	PROPN
ajbmeb-2854	432	12	,	,	PUNCT
ajbmeb-2854	432	13	s.	s.	PROPN
ajbmeb-2854	432	14	(	(	PUNCT
ajbmeb-2854	432	15	2019	2019	NUM
ajbmeb-2854	432	16	)	)	PUNCT
ajbmeb-2854	432	17	.	.	PUNCT
ajbmeb-2854	433	1	the	the	DET
ajbmeb-2854	433	2	impact	impact	NOUN
ajbmeb-2854	433	3	of	of	ADP
ajbmeb-2854	433	4	dividend	dividend	NOUN
ajbmeb-2854	433	5	policy	policy	NOUN
ajbmeb-2854	433	6	on	on	ADP
ajbmeb-2854	433	7	firm	firm	ADJ
ajbmeb-2854	433	8	performance	performance	NOUN
ajbmeb-2854	433	9	:	:	PUNCT
ajbmeb-2854	433	10	a	a	DET
ajbmeb-2854	433	11	case	case	NOUN
ajbmeb-2854	433	12	study	study	NOUN
ajbmeb-2854	433	13	of	of	ADP
ajbmeb-2854	433	14	the	the	DET
ajbmeb-2854	433	15	industrial	industrial	ADJ
ajbmeb-2854	433	16	sector	sector	NOUN
ajbmeb-2854	433	17	.	.	PUNCT
ajbmeb-2854	434	1	risk	risk	NOUN
ajbmeb-2854	434	2	governance	governance	NOUN
ajbmeb-2854	434	3	&	&	CCONJ
ajbmeb-2854	434	4	control	control	PROPN
ajbmeb-2854	434	5	:	:	PUNCT
ajbmeb-2854	434	6	financial	financial	ADJ
ajbmeb-2854	434	7	markets	market	NOUN
ajbmeb-2854	434	8	&	&	CCONJ
ajbmeb-2854	434	9	institutions	institution	NOUN
ajbmeb-2854	434	10	,	,	PUNCT
ajbmeb-2854	434	11	9(3	9(3	NUM
ajbmeb-2854	434	12	)	)	PUNCT
ajbmeb-2854	434	13	.	.	PUNCT
ajbmeb-2854	435	1	34	34	NUM
ajbmeb-2854	435	2	.	.	PUNCT
ajbmeb-2854	435	3	kiley	kiley	PROPN
ajbmeb-2854	435	4	,	,	PUNCT
ajbmeb-2854	435	5	michael	michael	PROPN
ajbmeb-2854	435	6	t.	t.	PROPN
ajbmeb-2854	435	7	,	,	PUNCT
ajbmeb-2854	435	8	monetary	monetary	ADJ
ajbmeb-2854	435	9	policy	policy	NOUN
ajbmeb-2854	435	10	actions	action	NOUN
ajbmeb-2854	435	11	and	and	CCONJ
ajbmeb-2854	435	12	long	long	ADV
ajbmeb-2854	435	13	-	-	PUNCT
ajbmeb-2854	435	14	run	run	VERB
ajbmeb-2854	435	15	inflation	inflation	NOUN
ajbmeb-2854	435	16	expectations	expectation	NOUN
ajbmeb-2854	435	17	(	(	PUNCT
ajbmeb-2854	435	18	2008	2008	NUM
ajbmeb-2854	435	19	)	)	PUNCT
ajbmeb-2854	435	20	.	.	PUNCT
ajbmeb-2854	436	1	feds	feds	PROPN
ajbmeb-2854	436	2	working	working	PROPN
ajbmeb-2854	436	3	paper	paper	NOUN
ajbmeb-2854	436	4	no	no	INTJ
ajbmeb-2854	436	5	.	.	NOUN
ajbmeb-2854	436	6	2008	2008	NUM
ajbmeb-2854	436	7	-	-	SYM
ajbmeb-2854	436	8	3	3	NUM
ajbmeb-2854	436	9	,	,	PUNCT
ajbmeb-2854	436	10	available	available	ADJ
ajbmeb-2854	436	11	at	at	ADP
ajbmeb-2854	436	12	ssrn	ssrn	PROPN
ajbmeb-2854	436	13	:	:	PUNCT
ajbmeb-2854	436	14	https://ssrn.com/abstract=3877821	https://ssrn.com/abstract=3877821	NOUN
ajbmeb-2854	436	15	35	35	NUM
ajbmeb-2854	436	16	.	.	PUNCT
ajbmeb-2854	437	1	lubis	lubis	PROPN
ajbmeb-2854	437	2	,	,	PUNCT
ajbmeb-2854	437	3	i.	i.	PROPN
ajbmeb-2854	437	4	l.	l.	PROPN
ajbmeb-2854	437	5	,	,	PUNCT
ajbmeb-2854	437	6	sinaga	sinaga	PROPN
ajbmeb-2854	437	7	,	,	PUNCT
ajbmeb-2854	437	8	b.m	b.m	PROPN
ajbmeb-2854	437	9	.	.	PROPN
ajbmeb-2854	437	10	,	,	PUNCT
ajbmeb-2854	437	11	&	&	CCONJ
ajbmeb-2854	437	12	sasongko	sasongko	PROPN
ajbmeb-2854	437	13	,	,	PUNCT
ajbmeb-2854	437	14	h.	h.	PROPN
ajbmeb-2854	437	15	(	(	PUNCT
ajbmeb-2854	437	16	2017	2017	NUM
ajbmeb-2854	437	17	)	)	PUNCT
ajbmeb-2854	437	18	.	.	PUNCT
ajbmeb-2854	438	1	pengaruh	pengaruh	NOUN
ajbmeb-2854	438	2	profitabilitas	profitabilita	NOUN
ajbmeb-2854	438	3	,	,	PUNCT
ajbmeb-2854	438	4	struktur	struktur	X
ajbmeb-2854	438	5	modal	modal	NOUN
ajbmeb-2854	438	6	,	,	PUNCT
ajbmeb-2854	438	7	dan	dan	PROPN
ajbmeb-2854	438	8	likuiditas	likuiditas	PROPN
ajbmeb-2854	438	9	terhadap	terhadap	PROPN
ajbmeb-2854	438	10	nilai	nilai	PROPN
ajbmeb-2854	438	11	perusahaan.jurnal	perusahaan.jurnal	PROPN
ajbmeb-2854	438	12	aplikasi	aplikasi	PROPN
ajbmeb-2854	438	13	bisnis	bisnis	PROPN
ajbmeb-2854	438	14	dan	dan	PROPN
ajbmeb-2854	438	15	manajemen	manajemen	PROPN
ajbmeb-2854	438	16	,	,	PUNCT
ajbmeb-2854	438	17	3(3	3(3	NUM
ajbmeb-2854	438	18	)	)	PUNCT
ajbmeb-2854	438	19	,	,	PUNCT
ajbmeb-2854	438	20	458465.https://doi.org/10.17358/jabm.3.3.458	458465.https://doi.org/10.17358/jabm.3.3.458	PROPN
ajbmeb-2854	438	21	36	36	NUM
ajbmeb-2854	438	22	.	.	PUNCT
ajbmeb-2854	439	1	litzenberger	litzenberger	NOUN
ajbmeb-2854	439	2	,	,	PUNCT
ajbmeb-2854	439	3	r.	r.	PROPN
ajbmeb-2854	439	4	h.	h.	PROPN
ajbmeb-2854	439	5	,	,	PUNCT
ajbmeb-2854	439	6	&	&	CCONJ
ajbmeb-2854	439	7	ramaswamy	ramaswamy	PROPN
ajbmeb-2854	439	8	,	,	PUNCT
ajbmeb-2854	439	9	k.	k.	PROPN
ajbmeb-2854	439	10	(	(	PUNCT
ajbmeb-2854	439	11	1982	1982	NUM
ajbmeb-2854	439	12	)	)	PUNCT
ajbmeb-2854	439	13	.	.	PUNCT
ajbmeb-2854	440	1	the	the	DET
ajbmeb-2854	440	2	effects	effect	NOUN
ajbmeb-2854	440	3	of	of	ADP
ajbmeb-2854	440	4	dividends	dividend	NOUN
ajbmeb-2854	440	5	on	on	ADP
ajbmeb-2854	440	6	common	common	ADJ
ajbmeb-2854	440	7	stock	stock	NOUN
ajbmeb-2854	440	8	prices	price	NOUN
ajbmeb-2854	440	9	tax	tax	NOUN
ajbmeb-2854	440	10	effects	effect	NOUN
ajbmeb-2854	440	11	or	or	CCONJ
ajbmeb-2854	440	12	information	information	NOUN
ajbmeb-2854	440	13	effects	effect	NOUN
ajbmeb-2854	440	14	?	?	PUNCT
ajbmeb-2854	440	15	.	.	PUNCT
ajbmeb-2854	441	1	the	the	DET
ajbmeb-2854	441	2	journal	journal	PROPN
ajbmeb-2854	441	3	of	of	ADP
ajbmeb-2854	441	4	finance	finance	NOUN
ajbmeb-2854	441	5	,	,	PUNCT
ajbmeb-2854	441	6	37(2	37(2	PROPN
ajbmeb-2854	441	7	)	)	PUNCT
ajbmeb-2854	441	8	,	,	PUNCT
ajbmeb-2854	441	9	429	429	NUM
ajbmeb-2854	441	10	-	-	SYM
ajbmeb-2854	441	11	443	443	NUM
ajbmeb-2854	441	12	.	.	PUNCT
ajbmeb-2854	441	13	37	37	NUM
ajbmeb-2854	441	14	.	.	PUNCT
ajbmeb-2854	442	1	litzenberger	litzenberger	PROPN
ajbmeb-2854	442	2	rh	rh	PROPN
ajbmeb-2854	442	3	,	,	PUNCT
ajbmeb-2854	442	4	krishna	krishna	PROPN
ajbmeb-2854	442	5	r	r	NOUN
ajbmeb-2854	442	6	(	(	PUNCT
ajbmeb-2854	442	7	1979	1979	NUM
ajbmeb-2854	442	8	)	)	PUNCT
ajbmeb-2854	442	9	.	.	PUNCT
ajbmeb-2854	443	1	the	the	DET
ajbmeb-2854	443	2	effect	effect	NOUN
ajbmeb-2854	443	3	of	of	ADP
ajbmeb-2854	443	4	personal	personal	ADJ
ajbmeb-2854	443	5	taxes	taxis	NOUN
ajbmeb-2854	443	6	and	and	CCONJ
ajbmeb-2854	443	7	dividends	dividend	NOUN
ajbmeb-2854	443	8	on	on	ADP
ajbmeb-2854	443	9	capital	capital	NOUN
ajbmeb-2854	443	10	asset	asset	NOUN
ajbmeb-2854	443	11	prices	price	NOUN
ajbmeb-2854	443	12	:	:	PUNCT
ajbmeb-2854	443	13	theory	theory	NOUN
ajbmeb-2854	443	14	and	and	CCONJ
ajbmeb-2854	443	15	empirical	empirical	ADJ
ajbmeb-2854	443	16	evidence	evidence	NOUN
ajbmeb-2854	443	17	.	.	PUNCT
ajbmeb-2854	444	1	journal	journal	PROPN
ajbmeb-2854	444	2	finance	finance	NOUN
ajbmeb-2854	444	3	and	and	CCONJ
ajbmeb-2854	444	4	economics	economic	NOUN
ajbmeb-2854	444	5	.	.	PUNCT
ajbmeb-2854	445	1	45(7	45(7	NUM
ajbmeb-2854	445	2	):	):	PUNCT
ajbmeb-2854	445	3	163	163	NUM
ajbmeb-2854	445	4	-	-	SYM
ajbmeb-2854	445	5	195	195	NUM
ajbmeb-2854	445	6	.	.	NOUN
ajbmeb-2854	446	1	38	38	NUM
ajbmeb-2854	446	2	.	.	PUNCT
ajbmeb-2854	446	3	lintner	lintner	PROPN
ajbmeb-2854	446	4	,	,	PUNCT
ajbmeb-2854	446	5	j.	j.	PROPN
ajbmeb-2854	446	6	(	(	PUNCT
ajbmeb-2854	446	7	1956	1956	NUM
ajbmeb-2854	446	8	)	)	PUNCT
ajbmeb-2854	446	9	.	.	PUNCT
ajbmeb-2854	447	1	distribution	distribution	NOUN
ajbmeb-2854	447	2	of	of	ADP
ajbmeb-2854	447	3	incomes	income	NOUN
ajbmeb-2854	447	4	of	of	ADP
ajbmeb-2854	447	5	corporations	corporation	NOUN
ajbmeb-2854	447	6	among	among	ADP
ajbmeb-2854	447	7	dividends	dividend	NOUN
ajbmeb-2854	447	8	,	,	PUNCT
ajbmeb-2854	447	9	retained	retain	VERB
ajbmeb-2854	447	10	earnings	earning	NOUN
ajbmeb-2854	447	11	,	,	PUNCT
ajbmeb-2854	447	12	and	and	CCONJ
ajbmeb-2854	447	13	.	.	PUNCT
ajbmeb-2854	448	1	the	the	DET
ajbmeb-2854	448	2	american	american	PROPN
ajbmeb-2854	448	3	economic	economic	PROPN
ajbmeb-2854	448	4	review	review	PROPN
ajbmeb-2854	448	5	,	,	PUNCT
ajbmeb-2854	448	6	46	46	NUM
ajbmeb-2854	448	7	(	(	PUNCT
ajbmeb-2854	448	8	2	2	NUM
ajbmeb-2854	448	9	)	)	PUNCT
ajbmeb-2854	448	10	,	,	PUNCT
ajbmeb-2854	448	11	97	97	NUM
ajbmeb-2854	448	12	39	39	NUM
ajbmeb-2854	448	13	.	.	PUNCT
ajbmeb-2854	449	1	-113	-113	INTJ
ajbmeb-2854	449	2	.	.	NOUN
ajbmeb-2854	449	3	40	40	NUM
ajbmeb-2854	449	4	.	.	PUNCT
ajbmeb-2854	450	1	majanga	majanga	PROPN
ajbmeb-2854	450	2	,	,	PUNCT
ajbmeb-2854	450	3	b.	b.	PROPN
ajbmeb-2854	450	4	b.	b.	PROPN
ajbmeb-2854	450	5	(	(	PUNCT
ajbmeb-2854	450	6	2015	2015	NUM
ajbmeb-2854	450	7	)	)	PUNCT
ajbmeb-2854	450	8	.	.	PUNCT
ajbmeb-2854	451	1	the	the	DET
ajbmeb-2854	451	2	dividend	dividend	NOUN
ajbmeb-2854	451	3	effect	effect	NOUN
ajbmeb-2854	451	4	on	on	ADP
ajbmeb-2854	451	5	stock	stock	NOUN
ajbmeb-2854	451	6	price	price	NOUN
ajbmeb-2854	451	7	-	-	PUNCT
ajbmeb-2854	451	8	an	an	DET
ajbmeb-2854	451	9	empirical	empirical	ADJ
ajbmeb-2854	451	10	analysis	analysis	NOUN
ajbmeb-2854	451	11	of	of	ADP
ajbmeb-2854	451	12	malawi	malawi	PROPN
ajbmeb-2854	451	13	listed	list	VERB
ajbmeb-2854	451	14	companies	company	NOUN
ajbmeb-2854	451	15	.	.	PUNCT
ajbmeb-2854	452	1	accounting	accounting	NOUN
ajbmeb-2854	452	2	and	and	CCONJ
ajbmeb-2854	452	3	finance	finance	NOUN
ajbmeb-2854	452	4	research	research	NOUN
ajbmeb-2854	452	5	,	,	PUNCT
ajbmeb-2854	452	6	99116	99116	NUM
ajbmeb-2854	452	7	41	41	NUM
ajbmeb-2854	452	8	.	.	PUNCT
ajbmeb-2854	453	1	malkawi	malkawi	PROPN
ajbmeb-2854	453	2	,	,	PUNCT
ajbmeb-2854	453	3	h.n	h.n	PROPN
ajbmeb-2854	453	4	.	.	PROPN
ajbmeb-2854	454	1	(	(	PUNCT
ajbmeb-2854	454	2	2007).determinants	2007).determinant	NOUN
ajbmeb-2854	454	3	of	of	ADP
ajbmeb-2854	454	4	corporate	corporate	ADJ
ajbmeb-2854	454	5	dividend	dividend	NOUN
ajbmeb-2854	454	6	policy	policy	NOUN
ajbmeb-2854	454	7	in	in	ADP
ajbmeb-2854	454	8	jordan	jordan	PROPN
ajbmeb-2854	454	9	:	:	PUNCT
ajbmeb-2854	454	10	an	an	DET
ajbmeb-2854	454	11	application	application	NOUN
ajbmeb-2854	454	12	of	of	ADP
ajbmeb-2854	454	13	the	the	DET
ajbmeb-2854	454	14	tobit	tobit	NOUN
ajbmeb-2854	454	15	model	model	NOUN
ajbmeb-2854	454	16	.	.	PUNCT
ajbmeb-2854	455	1	journal	journal	PROPN
ajbmeb-2854	455	2	of	of	ADP
ajbmeb-2854	455	3	applied	apply	VERB
ajbmeb-2854	455	4	accounting	accounting	NOUN
ajbmeb-2854	455	5	research	research	NOUN
ajbmeb-2854	455	6	,	,	PUNCT
ajbmeb-2854	455	7	23	23	NUM
ajbmeb-2854	455	8	,	,	PUNCT
ajbmeb-2854	455	9	44	44	NUM
ajbmeb-2854	455	10	-	-	SYM
ajbmeb-2854	455	11	70	70	NUM
ajbmeb-2854	455	12	.	.	PUNCT
ajbmeb-2854	456	1	42	42	NUM
ajbmeb-2854	456	2	.	.	PUNCT
ajbmeb-2854	457	1	michaely	michaely	PROPN
ajbmeb-2854	457	2	,	,	PUNCT
ajbmeb-2854	457	3	r.	r.	PROPN
ajbmeb-2854	457	4	,	,	PUNCT
ajbmeb-2854	457	5	&	&	CCONJ
ajbmeb-2854	457	6	roberts	roberts	PROPN
ajbmeb-2854	457	7	,	,	PUNCT
ajbmeb-2854	457	8	m.	m.	PROPN
ajbmeb-2854	457	9	r.	r.	PROPN
ajbmeb-2854	457	10	(	(	PUNCT
ajbmeb-2854	457	11	2007	2007	NUM
ajbmeb-2854	457	12	)	)	PUNCT
ajbmeb-2854	457	13	.	.	PUNCT
ajbmeb-2854	458	1	dividend	dividend	NOUN
ajbmeb-2854	458	2	smoothing	smoothing	NOUN
ajbmeb-2854	458	3	,	,	PUNCT
ajbmeb-2854	458	4	agency	agency	NOUN
ajbmeb-2854	458	5	costs	cost	NOUN
ajbmeb-2854	458	6	,	,	PUNCT
ajbmeb-2854	458	7	and	and	CCONJ
ajbmeb-2854	458	8	information	information	NOUN
ajbmeb-2854	458	9	asymmetry	asymmetry	NOUN
ajbmeb-2854	458	10	:	:	PUNCT
ajbmeb-2854	458	11	lessons	lesson	NOUN
ajbmeb-2854	458	12	from	from	ADP
ajbmeb-2854	458	13	the	the	DET
ajbmeb-2854	458	14	dividend	dividend	NOUN
ajbmeb-2854	458	15	policies	policy	NOUN
ajbmeb-2854	458	16	of	of	ADP
ajbmeb-2854	458	17	private	private	ADJ
ajbmeb-2854	458	18	firms	firm	NOUN
ajbmeb-2854	458	19	.	.	PUNCT
ajbmeb-2854	459	1	working	work	VERB
ajbmeb-2854	459	2	paper	paper	NOUN
ajbmeb-2854	459	3	,	,	PUNCT
ajbmeb-2854	459	4	cornell	cornell	PROPN
ajbmeb-2854	459	5	university	university	PROPN
ajbmeb-2854	459	6	and	and	CCONJ
ajbmeb-2854	459	7	university	university	PROPN
ajbmeb-2854	459	8	of	of	ADP
ajbmeb-2854	459	9	pennsylvania	pennsylvania	PROPN
ajbmeb-2854	459	10	https://scholar.google.com/scholar_lookup?title=theory+of+the+firm:+managerial+behavior,+agency+costs,+and+ownership+structure&author=jensen,+michael+c.&author=and+william+h.+meckling&publication_year=1976&journal=the+journal+of+financial+economics&volume=3&pages=305%e2%80%9360&doi=10.1016/0304-405x%2876%2990026-x	https://scholar.google.com/scholar_lookup?title=theory+of+the+firm:+managerial+behavior,+agency+costs,+and+ownership+structure&author=jensen,+michael+c.&author=and+william+h.+meckling&publication_year=1976&journal=the+journal+of+financial+economics&volume=3&pages=305%e2%80%9360&doi=10.1016/0304-405x%2876%2990026-x	PROPN
ajbmeb-2854	460	1	https://doi.org/10.1016/0304-405x%2876%2990026-x	https://doi.org/10.1016/0304-405x%2876%2990026-x	PROPN
ajbmeb-2854	460	2	https://doi.org/10.5296/rbm.v4i1.10784	https://doi.org/10.5296/rbm.v4i1.10784	PROPN
ajbmeb-2854	460	3	https://scholar.google.com/scholar_lookup?title=impact+of+dividend+policy+on+firm+performance:+an+empirical+evidence+from+pakistan+stock+exchange&author=khan,+mula+nazar&author=babar+nadeem&author=fahad+islam&author=muhammad+salman&author=and+hafiz+muhammad+ikram+sarwar+gill&publication_year=2016&journal=american+journal+of+economics,+finance+and+management&volume=2&pages=16%e2%80%9325	https://scholar.google.com/scholar_lookup?title=impact+of+dividend+policy+on+firm+performance:+an+empirical+evidence+from+pakistan+stock+exchange&author=khan,+mula+nazar&author=babar+nadeem&author=fahad+islam&author=muhammad+salman&author=and+hafiz+muhammad+ikram+sarwar+gill&publication_year=2016&journal=american+journal+of+economics,+finance+and+management&volume=2&pages=16%e2%80%9325	PROPN
ajbmeb-2854	460	4	https://ssrn.com/abstract=3877821	https://ssrn.com/abstract=3877821	PROPN
ajbmeb-2854	460	5	american	american	PROPN
ajbmeb-2854	460	6	journal	journal	PROPN
ajbmeb-2854	460	7	of	of	ADP
ajbmeb-2854	460	8	business	business	NOUN
ajbmeb-2854	460	9	management	management	NOUN
ajbmeb-2854	460	10	,	,	PUNCT
ajbmeb-2854	460	11	economics	economic	NOUN
ajbmeb-2854	460	12	and	and	CCONJ
ajbmeb-2854	460	13	banking	banking	NOUN
ajbmeb-2854	460	14	volume	volume	NOUN
ajbmeb-2854	460	15	35	35	NUM
ajbmeb-2854	460	16	april	april	PROPN
ajbmeb-2854	460	17	2025	2025	NUM
ajbmeb-2854	460	18	p	p	NOUN
ajbmeb-2854	460	19	a	a	DET
ajbmeb-2854	460	20	g	g	NOUN
ajbmeb-2854	460	21	e	e	NOUN
ajbmeb-2854	460	22	|	|	ADV
ajbmeb-2854	460	23	63	63	NUM
ajbmeb-2854	460	24	www.americanjournal.org	www.americanjournal.org	NOUN
ajbmeb-2854	460	25	43	43	NUM
ajbmeb-2854	460	26	.	.	PUNCT
ajbmeb-2854	461	1	michaely	michaely	ADV
ajbmeb-2854	461	2	,	,	PUNCT
ajbmeb-2854	461	3	roni	roni	PROPN
ajbmeb-2854	461	4	,	,	PUNCT
ajbmeb-2854	461	5	&	&	CCONJ
ajbmeb-2854	461	6	allen	allen	PROPN
ajbmeb-2854	461	7	,	,	PUNCT
ajbmeb-2854	461	8	f.	f.	PROPN
ajbmeb-2854	461	9	(	(	PUNCT
ajbmeb-2854	461	10	2002	2002	NUM
ajbmeb-2854	461	11	)	)	PUNCT
ajbmeb-2854	461	12	.	.	PUNCT
ajbmeb-2854	462	1	payout	payout	NOUN
ajbmeb-2854	462	2	policy	policy	NOUN
ajbmeb-2854	462	3	.	.	PUNCT
ajbmeb-2854	463	1	ssrn	ssrn	PROPN
ajbmeb-2854	463	2	journal	journal	PROPN
ajbmeb-2854	463	3	1	1	NUM
ajbmeb-2854	463	4	:	:	PUNCT
ajbmeb-2854	463	5	56–112	56–112	NUM
ajbmeb-2854	463	6	.	.	PUNCT
ajbmeb-2854	464	1	[	[	X
ajbmeb-2854	464	2	google	google	NOUN
ajbmeb-2854	464	3	scholar	scholar	NOUN
ajbmeb-2854	464	4	]	]	PUNCT
ajbmeb-2854	465	1	[	[	X
ajbmeb-2854	465	2	crossref	crossref	X
ajbmeb-2854	465	3	]	]	X
ajbmeb-2854	465	4	44	44	NUM
ajbmeb-2854	465	5	.	.	PUNCT
ajbmeb-2854	466	1	miller	miller	PROPN
ajbmeb-2854	466	2	,	,	PUNCT
ajbmeb-2854	466	3	d.	d.	PROPN
ajbmeb-2854	466	4	(	(	PUNCT
ajbmeb-2854	466	5	1987	1987	NUM
ajbmeb-2854	466	6	)	)	PUNCT
ajbmeb-2854	466	7	strategy	strategy	NOUN
ajbmeb-2854	466	8	making	making	NOUN
ajbmeb-2854	466	9	and	and	CCONJ
ajbmeb-2854	466	10	structure	structure	NOUN
ajbmeb-2854	466	11	analysis	analysis	NOUN
ajbmeb-2854	466	12	and	and	CCONJ
ajbmeb-2854	466	13	implications	implication	NOUN
ajbmeb-2854	466	14	for	for	ADP
ajbmeb-2854	466	15	performance	performance	NOUN
ajbmeb-2854	466	16	.	.	PUNCT
ajbmeb-2854	467	1	academy	academy	PROPN
ajbmeb-2854	467	2	of	of	ADP
ajbmeb-2854	467	3	management	management	PROPN
ajbmeb-2854	467	4	journal	journal	NOUN
ajbmeb-2854	467	5	,	,	PUNCT
ajbmeb-2854	467	6	30	30	NUM
ajbmeb-2854	467	7	,	,	PUNCT
ajbmeb-2854	467	8	7	7	NUM
ajbmeb-2854	467	9	-	-	SYM
ajbmeb-2854	467	10	32	32	NUM
ajbmeb-2854	467	11	45	45	NUM
ajbmeb-2854	467	12	.	.	PUNCT
ajbmeb-2854	468	1	miller	miller	PROPN
ajbmeb-2854	468	2	,	,	PUNCT
ajbmeb-2854	468	3	j.	j.	PROPN
ajbmeb-2854	468	4	(	(	PUNCT
ajbmeb-2854	468	5	1980	1980	NUM
ajbmeb-2854	468	6	)	)	PUNCT
ajbmeb-2854	468	7	.	.	PUNCT
ajbmeb-2854	469	1	decision	decision	NOUN
ajbmeb-2854	469	2	-	-	PUNCT
ajbmeb-2854	469	3	making	make	VERB
ajbmeb-2854	469	4	and	and	CCONJ
ajbmeb-2854	469	5	organizational	organizational	ADJ
ajbmeb-2854	469	6	effectiveness	effectiveness	NOUN
ajbmeb-2854	469	7	:	:	PUNCT
ajbmeb-2854	469	8	participation	participation	NOUN
ajbmeb-2854	469	9	and	and	CCONJ
ajbmeb-2854	469	10	perceptions	perception	NOUN
ajbmeb-2854	469	11	.	.	PUNCT
ajbmeb-2854	470	1	sociology	sociology	NOUN
ajbmeb-2854	470	2	of	of	ADP
ajbmeb-2854	470	3	work	work	NOUN
ajbmeb-2854	470	4	and	and	CCONJ
ajbmeb-2854	470	5	occupations	occupation	NOUN
ajbmeb-2854	470	6	7	7	NUM
ajbmeb-2854	470	7	,	,	PUNCT
ajbmeb-2854	470	8	55–79	55–79	ADV
ajbmeb-2854	470	9	.	.	PUNCT
ajbmeb-2854	471	1	[	[	X
ajbmeb-2854	471	2	google	google	NOUN
ajbmeb-2854	471	3	scholar	scholar	NOUN
ajbmeb-2854	471	4	]	]	PUNCT
ajbmeb-2854	472	1	[	[	X
ajbmeb-2854	472	2	crossref	crossref	NOUN
ajbmeb-2854	472	3	46	46	NUM
ajbmeb-2854	472	4	.	.	PUNCT
ajbmeb-2854	472	5	miller	miller	PROPN
ajbmeb-2854	472	6	,	,	PUNCT
ajbmeb-2854	472	7	r.	r.	PROPN
ajbmeb-2854	472	8	&	&	CCONJ
ajbmeb-2854	472	9	modigliani	modigliani	PROPN
ajbmeb-2854	472	10	,	,	PUNCT
ajbmeb-2854	472	11	f.	f.	PROPN
ajbmeb-2854	472	12	(	(	PUNCT
ajbmeb-2854	472	13	1961	1961	NUM
ajbmeb-2854	472	14	)	)	PUNCT
ajbmeb-2854	472	15	,	,	PUNCT
ajbmeb-2854	472	16	‘	'	PUNCT
ajbmeb-2854	472	17	dividend	dividend	NOUN
ajbmeb-2854	472	18	policy	policy	NOUN
ajbmeb-2854	472	19	,	,	PUNCT
ajbmeb-2854	472	20	growth	growth	NOUN
ajbmeb-2854	472	21	and	and	CCONJ
ajbmeb-2854	472	22	the	the	DET
ajbmeb-2854	472	23	valuation	valuation	NOUN
ajbmeb-2854	472	24	of	of	ADP
ajbmeb-2854	472	25	shares	share	NOUN
ajbmeb-2854	472	26	’	'	PUNCT
ajbmeb-2854	472	27	,	,	PUNCT
ajbmeb-2854	472	28	journal	journal	NOUN
ajbmeb-2854	472	29	of	of	ADP
ajbmeb-2854	472	30	business	business	NOUN
ajbmeb-2854	472	31	,	,	PUNCT
ajbmeb-2854	472	32	34	34	NUM
ajbmeb-2854	472	33	(	(	PUNCT
ajbmeb-2854	472	34	4	4	NUM
ajbmeb-2854	472	35	)	)	PUNCT
ajbmeb-2854	472	36	,	,	PUNCT
ajbmeb-2854	472	37	411–33	411–33	NUM
ajbmeb-2854	472	38	.	.	PUNCT
ajbmeb-2854	473	1	47	47	NUM
ajbmeb-2854	473	2	.	.	PUNCT
ajbmeb-2854	474	1	modigliani	modigliani	PROPN
ajbmeb-2854	474	2	,	,	PUNCT
ajbmeb-2854	474	3	f.	f.	PROPN
ajbmeb-2854	474	4	,	,	PUNCT
ajbmeb-2854	474	5	&	&	CCONJ
ajbmeb-2854	474	6	miller	miller	PROPN
ajbmeb-2854	474	7	.	.	PUNCT
ajbmeb-2854	475	1	m.	m.	NOUN
ajbmeb-2854	475	2	(	(	PUNCT
ajbmeb-2854	475	3	1958	1958	NUM
ajbmeb-2854	475	4	)	)	PUNCT
ajbmeb-2854	475	5	.	.	PUNCT
ajbmeb-2854	476	1	the	the	DET
ajbmeb-2854	476	2	cost	cost	NOUN
ajbmeb-2854	476	3	of	of	ADP
ajbmeb-2854	476	4	capital	capital	NOUN
ajbmeb-2854	476	5	,	,	PUNCT
ajbmeb-2854	476	6	corporation	corporation	NOUN
ajbmeb-2854	476	7	finance	finance	NOUN
ajbmeb-2854	476	8	and	and	CCONJ
ajbmeb-2854	476	9	the	the	DET
ajbmeb-2854	476	10	theory	theory	NOUN
ajbmeb-2854	476	11	of	of	ADP
ajbmeb-2854	476	12	investment	investment	NOUN
ajbmeb-2854	476	13	.	.	PUNCT
ajbmeb-2854	477	1	american	american	ADJ
ajbmeb-2854	477	2	economic	economic	ADJ
ajbmeb-2854	477	3	review,48	review,48	NOUN
ajbmeb-2854	477	4	(	(	PUNCT
ajbmeb-2854	477	5	3),.261–97	3),.261–97	NUM
ajbmeb-2854	477	6	48	48	NUM
ajbmeb-2854	477	7	.	.	PUNCT
ajbmeb-2854	478	1	myers	myers	PROPN
ajbmeb-2854	478	2	,	,	PUNCT
ajbmeb-2854	478	3	s.	s.	PROPN
ajbmeb-2854	478	4	c.	c.	PROPN
ajbmeb-2854	478	5	,	,	PUNCT
ajbmeb-2854	478	6	&	&	CCONJ
ajbmeb-2854	478	7	majluf	majluf	PROPN
ajbmeb-2854	478	8	,	,	PUNCT
ajbmeb-2854	478	9	n.	n.	PROPN
ajbmeb-2854	478	10	s.	s.	PROPN
ajbmeb-2854	478	11	(	(	PUNCT
ajbmeb-2854	478	12	1984	1984	NUM
ajbmeb-2854	478	13	)	)	PUNCT
ajbmeb-2854	478	14	.	.	PUNCT
ajbmeb-2854	479	1	corporate	corporate	ADJ
ajbmeb-2854	479	2	financing	financing	NOUN
ajbmeb-2854	479	3	and	and	CCONJ
ajbmeb-2854	479	4	investment	investment	NOUN
ajbmeb-2854	479	5	decisions	decision	NOUN
ajbmeb-2854	479	6	when	when	SCONJ
ajbmeb-2854	479	7	firms	firm	NOUN
ajbmeb-2854	479	8	have	have	VERB
ajbmeb-2854	479	9	information	information	NOUN
ajbmeb-2854	479	10	that	that	SCONJ
ajbmeb-2854	479	11	investors	investor	NOUN
ajbmeb-2854	479	12	do	do	AUX
ajbmeb-2854	479	13	not	not	PART
ajbmeb-2854	479	14	have	have	VERB
ajbmeb-2854	479	15	.	.	PUNCT
ajbmeb-2854	480	1	journal	journal	NOUN
ajbmeb-2854	480	2	of	of	ADP
ajbmeb-2854	480	3	financial	financial	ADJ
ajbmeb-2854	480	4	economics	economic	NOUN
ajbmeb-2854	480	5	,	,	PUNCT
ajbmeb-2854	480	6	13(2	13(2	PROPN
ajbmeb-2854	480	7	)	)	PUNCT
ajbmeb-2854	480	8	,	,	PUNCT
ajbmeb-2854	480	9	187	187	NUM
ajbmeb-2854	480	10	-	-	SYM
ajbmeb-2854	480	11	221	221	NUM
ajbmeb-2854	480	12	.	.	PUNCT
ajbmeb-2854	481	1	49	49	NUM
ajbmeb-2854	481	2	.	.	PUNCT
ajbmeb-2854	482	1	omran	omran	NOUN
ajbmeb-2854	482	2	,	,	PUNCT
ajbmeb-2854	482	3	m.	m.	NOUN
ajbmeb-2854	482	4	,	,	PUNCT
ajbmeb-2854	482	5	&	&	CCONJ
ajbmeb-2854	482	6	pointon	pointon	PROPN
ajbmeb-2854	482	7	,	,	PUNCT
ajbmeb-2854	482	8	j.	j.	PROPN
ajbmeb-2854	482	9	(	(	PUNCT
ajbmeb-2854	482	10	2004	2004	NUM
ajbmeb-2854	482	11	)	)	PUNCT
ajbmeb-2854	482	12	.	.	PUNCT
ajbmeb-2854	483	1	dividend	dividend	NOUN
ajbmeb-2854	483	2	policy	policy	NOUN
ajbmeb-2854	483	3	,	,	PUNCT
ajbmeb-2854	483	4	trading	trading	NOUN
ajbmeb-2854	483	5	characteristics	characteristic	NOUN
ajbmeb-2854	483	6	and	and	CCONJ
ajbmeb-2854	483	7	share	share	NOUN
ajbmeb-2854	483	8	prices	price	NOUN
ajbmeb-2854	483	9	:	:	PUNCT
ajbmeb-2854	483	10	empirical	empirical	ADJ
ajbmeb-2854	483	11	evidence	evidence	NOUN
ajbmeb-2854	483	12	from	from	ADP
ajbmeb-2854	483	13	egyptian	egyptian	ADJ
ajbmeb-2854	483	14	firms	firm	NOUN
ajbmeb-2854	483	15	.	.	PUNCT
ajbmeb-2854	484	1	international	international	ADJ
ajbmeb-2854	484	2	journal	journal	PROPN
ajbmeb-2854	484	3	of	of	ADP
ajbmeb-2854	484	4	theoretical	theoretical	ADJ
ajbmeb-2854	484	5	and	and	CCONJ
ajbmeb-2854	484	6	applied	apply	VERB
ajbmeb-2854	484	7	finance	finance	NOUN
ajbmeb-2854	484	8	50	50	NUM
ajbmeb-2854	484	9	.	.	PUNCT
ajbmeb-2854	484	10	,	,	PUNCT
ajbmeb-2854	484	11	7(2	7(2	NUM
ajbmeb-2854	484	12	)	)	PUNCT
ajbmeb-2854	484	13	,	,	PUNCT
ajbmeb-2854	484	14	121	121	NUM
ajbmeb-2854	484	15	–	–	SYM
ajbmeb-2854	484	16	133	133	NUM
ajbmeb-2854	484	17	.	.	PUNCT
ajbmeb-2854	485	1	51	51	NUM
ajbmeb-2854	485	2	.	.	PUNCT
ajbmeb-2854	486	1	petit	petit	NOUN
ajbmeb-2854	486	2	,	,	PUNCT
ajbmeb-2854	486	3	r.r	r.r	PROPN
ajbmeb-2854	486	4	.	.	PROPN
ajbmeb-2854	486	5	(	(	PUNCT
ajbmeb-2854	486	6	1972	1972	NUM
ajbmeb-2854	486	7	)	)	PUNCT
ajbmeb-2854	486	8	.	.	PUNCT
ajbmeb-2854	487	1	dividend	dividend	NOUN
ajbmeb-2854	487	2	announcements	announcement	NOUN
ajbmeb-2854	487	3	,	,	PUNCT
ajbmeb-2854	487	4	security	security	NOUN
ajbmeb-2854	487	5	performance	performance	NOUN
ajbmeb-2854	487	6	,	,	PUNCT
ajbmeb-2854	487	7	and	and	CCONJ
ajbmeb-2854	487	8	capital	capital	NOUN
ajbmeb-2854	487	9	market	market	NOUN
ajbmeb-2854	487	10	efficiency	efficiency	NOUN
ajbmeb-2854	487	11	.	.	PUNCT
ajbmeb-2854	488	1	journal	journal	PROPN
ajbmeb-2854	488	2	of	of	ADP
ajbmeb-2854	488	3	finance	finance	NOUN
ajbmeb-2854	488	4	,	,	PUNCT
ajbmeb-2854	488	5	27	27	NUM
ajbmeb-2854	488	6	,	,	PUNCT
ajbmeb-2854	488	7	993	993	NUM
ajbmeb-2854	488	8	-	-	SYM
ajbmeb-2854	488	9	1007	1007	NUM
ajbmeb-2854	488	10	.	.	PUNCT
ajbmeb-2854	489	1	52	52	NUM
ajbmeb-2854	489	2	.	.	X
ajbmeb-2854	489	3	priya	priya	PROPN
ajbmeb-2854	489	4	,	,	PUNCT
ajbmeb-2854	489	5	k.	k.	PROPN
ajbmeb-2854	489	6	a.	a.	PROPN
ajbmeb-2854	489	7	,	,	PUNCT
ajbmeb-2854	489	8	&	&	CCONJ
ajbmeb-2854	489	9	nimalathasan	nimalathasan	PROPN
ajbmeb-2854	489	10	,	,	PUNCT
ajbmeb-2854	489	11	b.	b.	PROPN
ajbmeb-2854	489	12	(	(	PUNCT
ajbmeb-2854	489	13	2013	2013	NUM
ajbmeb-2854	489	14	)	)	PUNCT
ajbmeb-2854	489	15	.	.	PUNCT
ajbmeb-2854	490	1	dividend	dividend	NOUN
ajbmeb-2854	490	2	policy	policy	NOUN
ajbmeb-2854	490	3	ratios	ratio	NOUN
ajbmeb-2854	490	4	and	and	CCONJ
ajbmeb-2854	490	5	firm	firm	ADJ
ajbmeb-2854	490	6	performance	performance	NOUN
ajbmeb-2854	490	7	:	:	PUNCT
ajbmeb-2854	490	8	a	a	DET
ajbmeb-2854	490	9	case	case	NOUN
ajbmeb-2854	490	10	study	study	NOUN
ajbmeb-2854	490	11	of	of	ADP
ajbmeb-2854	490	12	selected	select	VERB
ajbmeb-2854	490	13	hotels	hotel	NOUN
ajbmeb-2854	490	14	and	and	CCONJ
ajbmeb-2854	490	15	restaurants	restaurant	NOUN
ajbmeb-2854	490	16	in	in	ADP
ajbmeb-2854	490	17	sri	sri	PROPN
ajbmeb-2854	490	18	lanka	lanka	PROPN
ajbmeb-2854	490	19	.	.	PUNCT
ajbmeb-2854	491	1	global	global	ADJ
ajbmeb-2854	491	2	journal	journal	PROPN
ajbmeb-2854	491	3	of	of	ADP
ajbmeb-2854	491	4	commerce	commerce	PROPN
ajbmeb-2854	491	5	&	&	CCONJ
ajbmeb-2854	491	6	management	management	PROPN
ajbmeb-2854	491	7	perspective,2(6	perspective,2(6	PROPN
ajbmeb-2854	491	8	)	)	PUNCT
ajbmeb-2854	491	9	,	,	PUNCT
ajbmeb-2854	491	10	16	16	NUM
ajbmeb-2854	491	11	-	-	SYM
ajbmeb-2854	491	12	22	22	NUM
ajbmeb-2854	491	13	.	.	PUNCT
ajbmeb-2854	492	1	53	53	NUM
ajbmeb-2854	492	2	.	.	PUNCT
ajbmeb-2854	492	3	putu	putu	PROPN
ajbmeb-2854	492	4	,	,	PUNCT
ajbmeb-2854	492	5	m.n.g	m.n.g	NOUN
ajbmeb-2854	492	6	.	.	PROPN
ajbmeb-2854	492	7	,	,	PUNCT
ajbmeb-2854	492	8	moeljadi	moeljadi	PROPN
ajbmeb-2854	492	9	,	,	PUNCT
ajbmeb-2854	492	10	d.	d.	PROPN
ajbmeb-2854	492	11	,	,	PUNCT
ajbmeb-2854	492	12	&	&	CCONJ
ajbmeb-2854	492	13	djazuli	djazuli	PROPN
ajbmeb-2854	492	14	,	,	PUNCT
ajbmeb-2854	492	15	a.	a.	NOUN
ajbmeb-2854	492	16	(	(	PUNCT
ajbmeb-2854	492	17	2014	2014	NUM
ajbmeb-2854	492	18	)	)	PUNCT
ajbmeb-2854	492	19	.	.	PUNCT
ajbmeb-2854	493	1	factors	factor	NOUN
ajbmeb-2854	493	2	affecting	affect	VERB
ajbmeb-2854	493	3	firms	firm	NOUN
ajbmeb-2854	493	4	value	value	NOUN
ajbmeb-2854	493	5	of	of	ADP
ajbmeb-2854	493	6	indonesia	indonesia	PROPN
ajbmeb-2854	493	7	public	public	ADJ
ajbmeb-2854	493	8	manufacturing	manufacturing	NOUN
ajbmeb-2854	493	9	firms	firm	NOUN
ajbmeb-2854	493	10	.	.	PUNCT
ajbmeb-2854	494	1	international	international	ADJ
ajbmeb-2854	494	2	journal	journal	PROPN
ajbmeb-2854	494	3	of	of	ADP
ajbmeb-2854	494	4	business	business	NOUN
ajbmeb-2854	494	5	and	and	CCONJ
ajbmeb-2854	494	6	management	management	NOUN
ajbmeb-2854	494	7	invention,3(2),35	invention,3(2),35	NOUN
ajbmeb-2854	494	8	-	-	SYM
ajbmeb-2854	494	9	44	44	NUM
ajbmeb-2854	494	10	54	54	NUM
ajbmeb-2854	494	11	.	.	PUNCT
ajbmeb-2854	495	1	rappaport	rappaport	PROPN
ajbmeb-2854	495	2	,	,	PUNCT
ajbmeb-2854	495	3	a.	a.	NOUN
ajbmeb-2854	495	4	(	(	PUNCT
ajbmeb-2854	495	5	1986	1986	NUM
ajbmeb-2854	495	6	)	)	PUNCT
ajbmeb-2854	495	7	creating	create	VERB
ajbmeb-2854	495	8	shareholder	shareholder	NOUN
ajbmeb-2854	495	9	value	value	NOUN
ajbmeb-2854	495	10	:	:	PUNCT
ajbmeb-2854	495	11	the	the	DET
ajbmeb-2854	495	12	new	new	ADJ
ajbmeb-2854	495	13	standard	standard	NOUN
ajbmeb-2854	495	14	for	for	ADP
ajbmeb-2854	495	15	business	business	NOUN
ajbmeb-2854	495	16	performance	performance	NOUN
ajbmeb-2854	495	17	.	.	PUNCT
ajbmeb-2854	496	1	simer	simer	NOUN
ajbmeb-2854	496	2	and	and	CCONJ
ajbmeb-2854	496	3	schuster	schuster	PROPN
ajbmeb-2854	496	4	publishing	publishing	NOUN
ajbmeb-2854	496	5	group	group	NOUN
ajbmeb-2854	496	6	,	,	PUNCT
ajbmeb-2854	496	7	new	new	PROPN
ajbmeb-2854	496	8	york	york	PROPN
ajbmeb-2854	496	9	55	55	NUM
ajbmeb-2854	496	10	.	.	PUNCT
ajbmeb-2854	497	1	rehman	rehman	NOUN
ajbmeb-2854	497	2	,	,	PUNCT
ajbmeb-2854	497	3	o.	o.	PROPN
ajbmeb-2854	497	4	ur	ur	INTJ
ajbmeb-2854	497	5	.	.	PUNCT
ajbmeb-2854	498	1	(	(	PUNCT
ajbmeb-2854	498	2	2016	2016	NUM
ajbmeb-2854	498	3	)	)	PUNCT
ajbmeb-2854	498	4	.	.	PUNCT
ajbmeb-2854	499	1	impact	impact	NOUN
ajbmeb-2854	499	2	of	of	ADP
ajbmeb-2854	499	3	capital	capital	NOUN
ajbmeb-2854	499	4	structure	structure	NOUN
ajbmeb-2854	499	5	and	and	CCONJ
ajbmeb-2854	499	6	dividend	dividend	NOUN
ajbmeb-2854	499	7	policy	policy	NOUN
ajbmeb-2854	499	8	on	on	ADP
ajbmeb-2854	499	9	firm	firm	ADJ
ajbmeb-2854	499	10	value	value	NOUN
ajbmeb-2854	499	11	.	.	PUNCT
ajbmeb-2854	500	1	journal	journal	NOUN
ajbmeb-2854	500	2	of	of	ADP
ajbmeb-2854	500	3	poverty	poverty	NOUN
ajbmeb-2854	500	4	,	,	PUNCT
ajbmeb-2854	500	5	investment	investment	NOUN
ajbmeb-2854	500	6	and	and	CCONJ
ajbmeb-2854	500	7	development,21	development,21	VERB
ajbmeb-2854	500	8	56	56	NUM
ajbmeb-2854	500	9	.	.	PUNCT
ajbmeb-2854	501	1	samuel	samuel	PROPN
ajbmeb-2854	501	2	,	,	PUNCT
ajbmeb-2854	501	3	k.a	k.a	PROPN
ajbmeb-2854	501	4	.	.	PROPN
ajbmeb-2854	501	5	&	&	CCONJ
ajbmeb-2854	501	6	edward	edward	PROPN
ajbmeb-2854	501	7	,	,	PUNCT
ajbmeb-2854	501	8	m.y	m.y	PROPN
ajbmeb-2854	501	9	.	.	PROPN
ajbmeb-2854	501	10	(	(	PUNCT
ajbmeb-2854	501	11	2011	2011	NUM
ajbmeb-2854	501	12	)	)	PUNCT
ajbmeb-2854	501	13	.	.	PUNCT
ajbmeb-2854	502	1	dividend	dividend	NOUN
ajbmeb-2854	502	2	policy	policy	NOUN
ajbmeb-2854	502	3	and	and	CCONJ
ajbmeb-2854	502	4	bank	bank	NOUN
ajbmeb-2854	502	5	performance	performance	NOUN
ajbmeb-2854	502	6	in	in	ADP
ajbmeb-2854	502	7	ghana	ghana	PROPN
ajbmeb-2854	502	8	.	.	PUNCT
ajbmeb-2854	503	1	international	international	ADJ
ajbmeb-2854	503	2	journal	journal	PROPN
ajbmeb-2854	503	3	of	of	ADP
ajbmeb-2854	503	4	economics	economic	NOUN
ajbmeb-2854	503	5	and	and	CCONJ
ajbmeb-2854	503	6	finance,3(4	finance,3(4	NOUN
ajbmeb-2854	503	7	)	)	PUNCT
ajbmeb-2854	503	8	,	,	PUNCT
ajbmeb-2854	503	9	202218	202218	NUM
ajbmeb-2854	503	10	doi:10.5539	doi:10.5539	NOUN
ajbmeb-2854	503	11	/	/	SYM
ajbmeb-2854	503	12	ijef	ijef	PROPN
ajbmeb-2854	503	13	57	57	NUM
ajbmeb-2854	503	14	.	.	PUNCT
ajbmeb-2854	504	1	santosa	santosa	PROPN
ajbmeb-2854	504	2	,	,	PUNCT
ajbmeb-2854	504	3	p.	p.	NOUN
ajbmeb-2854	504	4	w.	w.	PROPN
ajbmeb-2854	504	5	(	(	PUNCT
ajbmeb-2854	504	6	2019	2019	NUM
ajbmeb-2854	504	7	)	)	PUNCT
ajbmeb-2854	504	8	.	.	PUNCT
ajbmeb-2854	505	1	financial	financial	ADJ
ajbmeb-2854	505	2	performance	performance	NOUN
ajbmeb-2854	505	3	,	,	PUNCT
ajbmeb-2854	505	4	exchange	exchange	NOUN
ajbmeb-2854	505	5	rate	rate	NOUN
ajbmeb-2854	505	6	and	and	CCONJ
ajbmeb-2854	505	7	stock	stock	NOUN
ajbmeb-2854	505	8	return	return	NOUN
ajbmeb-2854	505	9	:	:	PUNCT
ajbmeb-2854	505	10	evidence	evidence	NOUN
ajbmeb-2854	505	11	from	from	ADP
ajbmeb-2854	505	12	manufacturing	manufacture	VERB
ajbmeb-2854	505	13	sector	sector	NOUN
ajbmeb-2854	505	14	.	.	PUNCT
ajbmeb-2854	506	1	jurnal	jurnal	ADJ
ajbmeb-2854	506	2	manajemen	manajeman	NOUN
ajbmeb-2854	506	3	teknologi	teknologi	PROPN
ajbmeb-2854	506	4	,	,	PUNCT
ajbmeb-2854	506	5	18(3	18(3	NUM
ajbmeb-2854	506	6	)	)	PUNCT
ajbmeb-2854	506	7	,	,	PUNCT
ajbmeb-2854	506	8	205	205	NUM
ajbmeb-2854	506	9	-	-	SYM
ajbmeb-2854	506	10	217	217	NUM
ajbmeb-2854	506	11	.	.	PUNCT
ajbmeb-2854	507	1	58	58	NUM
ajbmeb-2854	507	2	.	.	PUNCT
ajbmeb-2854	508	1	https://doi.org/10.12695/jmt.2019.18.3.5	https://doi.org/10.12695/jmt.2019.18.3.5	PROPN
ajbmeb-2854	508	2	59	59	NUM
ajbmeb-2854	508	3	.	.	PUNCT
ajbmeb-2854	509	1	santosa	santosa	PROPN
ajbmeb-2854	509	2	,	,	PUNCT
ajbmeb-2854	509	3	p.	p.	NOUN
ajbmeb-2854	509	4	w.	w.	PROPN
ajbmeb-2854	509	5	(	(	PUNCT
ajbmeb-2854	509	6	2020	2020	NUM
ajbmeb-2854	509	7	)	)	PUNCT
ajbmeb-2854	509	8	.	.	PUNCT
ajbmeb-2854	510	1	the	the	DET
ajbmeb-2854	510	2	moderating	moderate	VERB
ajbmeb-2854	510	3	role	role	NOUN
ajbmeb-2854	510	4	of	of	ADP
ajbmeb-2854	510	5	firm	firm	ADJ
ajbmeb-2854	510	6	size	size	NOUN
ajbmeb-2854	510	7	on	on	ADP
ajbmeb-2854	510	8	financial	financial	ADJ
ajbmeb-2854	510	9	characteristics	characteristic	NOUN
ajbmeb-2854	510	10	and	and	CCONJ
ajbmeb-2854	510	11	islamic	islamic	ADJ
ajbmeb-2854	510	12	firm	firm	NOUN
ajbmeb-2854	510	13	value	value	NOUN
ajbmeb-2854	510	14	at	at	ADP
ajbmeb-2854	510	15	indonesian	indonesian	ADJ
ajbmeb-2854	510	16	equity	equity	NOUN
ajbmeb-2854	510	17	market	market	NOUN
ajbmeb-2854	510	18	.	.	PUNCT
ajbmeb-2854	511	1	business	business	NOUN
ajbmeb-2854	511	2	:	:	PUNCT
ajbmeb-2854	511	3	theory	theory	NOUN
ajbmeb-2854	511	4	and	and	CCONJ
ajbmeb-2854	511	5	practice	practice	NOUN
ajbmeb-2854	511	6	,	,	PUNCT
ajbmeb-2854	511	7	21(1	21(1	NUM
ajbmeb-2854	511	8	)	)	PUNCT
ajbmeb-2854	511	9	,	,	PUNCT
ajbmeb-2854	511	10	391	391	NUM
ajbmeb-2854	511	11	-	-	SYM
ajbmeb-2854	511	12	401	401	NUM
ajbmeb-2854	511	13	.	.	PUNCT
ajbmeb-2854	512	1	https://doi.org/10.3846/btp.2020.12197	https://doi.org/10.3846/btp.2020.12197	NOUN
ajbmeb-2854	512	2	60	60	NUM
ajbmeb-2854	512	3	.	.	PUNCT
ajbmeb-2854	513	1	santosa	santosa	PROPN
ajbmeb-2854	513	2	,	,	PUNCT
ajbmeb-2854	513	3	p.	p.	PROPN
ajbmeb-2854	513	4	w.	w.	PROPN
ajbmeb-2854	513	5	,tambunan	,tambunan	PROPN
ajbmeb-2854	513	6	,	,	PUNCT
ajbmeb-2854	513	7	m	m	PROPN
ajbmeb-2854	513	8	e.	e.	PROPN
ajbmeb-2854	513	9	&	&	CCONJ
ajbmeb-2854	513	10	kumullah	kumullah	PROPN
ajbmeb-2854	513	11	,	,	PUNCT
ajbmeb-2854	513	12	e.	e.	PROPN
ajbmeb-2854	513	13	r.(2020	r.(2020	PROPN
ajbmeb-2854	513	14	)	)	PUNCT
ajbmeb-2854	513	15	.	.	PUNCT
ajbmeb-2854	514	1	the	the	DET
ajbmeb-2854	514	2	role	role	NOUN
ajbmeb-2854	514	3	of	of	ADP
ajbmeb-2854	514	4	moderating	moderate	VERB
ajbmeb-2854	514	5	audit	audit	NOUN
ajbmeb-2854	514	6	quality	quality	NOUN
ajbmeb-2854	514	7	relationship	relationship	NOUN
ajbmeb-2854	514	8	between	between	ADP
ajbmeb-2854	514	9	corporate	corporate	ADJ
ajbmeb-2854	514	10	characteristics	characteristic	NOUN
ajbmeb-2854	514	11	and	and	CCONJ
ajbmeb-2854	514	12	financial	financial	ADJ
ajbmeb-2854	514	13	distress	distress	NOUN
ajbmeb-2854	514	14	in	in	ADP
ajbmeb-2854	514	15	the	the	DET
ajbmeb-2854	514	16	indonesian	indonesian	ADJ
ajbmeb-2854	514	17	mining	mining	NOUN
ajbmeb-2854	514	18	sector	sector	NOUN
ajbmeb-2854	514	19	.	.	PUNCT
ajbmeb-2854	515	1	investment	investment	NOUN
ajbmeb-2854	515	2	management	management	NOUN
ajbmeb-2854	515	3	and	and	CCONJ
ajbmeb-2854	515	4	financial	financial	ADJ
ajbmeb-2854	515	5	innovations	innovation	NOUN
ajbmeb-2854	515	6	17(2	17(2	NUM
ajbmeb-2854	515	7	)	)	PUNCT
ajbmeb-2854	515	8	,	,	PUNCT
ajbmeb-2854	515	9	88	88	NUM
ajbmeb-2854	515	10	-	-	SYM
ajbmeb-2854	515	11	100	100	NUM
ajbmeb-2854	515	12	.	.	PUNCT
ajbmeb-2854	516	1	doi:10.21511	doi:10.21511	VERB
ajbmeb-2854	516	2	/	/	SYM
ajbmeb-2854	517	1	imfi.17(2).2020.08	imfi.17(2).2020.08	NOUN
ajbmeb-2854	517	2	61	61	NUM
ajbmeb-2854	517	3	.	.	PUNCT
ajbmeb-2854	517	4	sharma	sharma	PROPN
ajbmeb-2854	517	5	,	,	PUNCT
ajbmeb-2854	517	6	a.	a.	PROPN
ajbmeb-2854	517	7	k.	k.	PROPN
ajbmeb-2854	517	8	,	,	PUNCT
ajbmeb-2854	517	9	&	&	CCONJ
ajbmeb-2854	517	10	kumar	kumar	PROPN
ajbmeb-2854	517	11	,	,	PUNCT
ajbmeb-2854	517	12	s.	s.	PROPN
ajbmeb-2854	517	13	(	(	PUNCT
ajbmeb-2854	517	14	2011	2011	NUM
ajbmeb-2854	517	15	)	)	PUNCT
ajbmeb-2854	517	16	.	.	PUNCT
ajbmeb-2854	518	1	effect	effect	NOUN
ajbmeb-2854	518	2	of	of	ADP
ajbmeb-2854	518	3	working	work	VERB
ajbmeb-2854	518	4	capital	capital	NOUN
ajbmeb-2854	518	5	management	management	NOUN
ajbmeb-2854	518	6	on	on	ADP
ajbmeb-2854	518	7	firm	firm	ADJ
ajbmeb-2854	518	8	profitability	profitability	NOUN
ajbmeb-2854	518	9	:	:	PUNCT
ajbmeb-2854	518	10	empirical	empirical	ADJ
ajbmeb-2854	518	11	evidence	evidence	NOUN
ajbmeb-2854	518	12	from	from	ADP
ajbmeb-2854	518	13	india	india	PROPN
ajbmeb-2854	518	14	.	.	PUNCT
ajbmeb-2854	519	1	global	global	ADJ
ajbmeb-2854	519	2	business	business	PROPN
ajbmeb-2854	519	3	review	review	PROPN
ajbmeb-2854	519	4	,	,	PUNCT
ajbmeb-2854	519	5	12	12	NUM
ajbmeb-2854	519	6	,	,	PUNCT
ajbmeb-2854	519	7	159	159	NUM
ajbmeb-2854	519	8	-	-	SYM
ajbmeb-2854	519	9	173	173	NUM
ajbmeb-2854	519	10	.	.	PUNCT
ajbmeb-2854	520	1	https://doi.org/10.1177/097215091001200110	https://doi.org/10.1177/097215091001200110	PROPN
ajbmeb-2854	520	2	62	62	NUM
ajbmeb-2854	520	3	.	.	PUNCT
ajbmeb-2854	521	1	sharma	sharma	PROPN
ajbmeb-2854	521	2	,	,	PUNCT
ajbmeb-2854	521	3	s.	s.	PROPN
ajbmeb-2854	521	4	and	and	CCONJ
ajbmeb-2854	521	5	singh	singh	PROPN
ajbmeb-2854	521	6	,	,	PUNCT
ajbmeb-2854	521	7	b.	b.	PROPN
ajbmeb-2854	521	8	(	(	PUNCT
ajbmeb-2854	521	9	2006	2006	NUM
ajbmeb-2854	521	10	)	)	PUNCT
ajbmeb-2854	521	11	.	.	PUNCT
ajbmeb-2854	522	1	determinants	determinant	NOUN
ajbmeb-2854	522	2	of	of	ADP
ajbmeb-2854	522	3	equity	equity	NOUN
ajbmeb-2854	522	4	share	share	NOUN
ajbmeb-2854	522	5	prices	price	NOUN
ajbmeb-2854	522	6	in	in	ADP
ajbmeb-2854	522	7	indian	indian	ADJ
ajbmeb-2854	522	8	corporate	corporate	ADJ
ajbmeb-2854	522	9	sector	sector	NOUN
ajbmeb-2854	522	10	:	:	PUNCT
ajbmeb-2854	522	11	an	an	DET
ajbmeb-2854	522	12	empirical	empirical	ADJ
ajbmeb-2854	522	13	study	study	NOUN
ajbmeb-2854	522	14	.	.	PUNCT
ajbmeb-2854	523	1	the	the	DET
ajbmeb-2854	523	2	icfai	icfai	NUM
ajbmeb-2854	523	3	journal	journal	NOUN
ajbmeb-2854	523	4	of	of	ADP
ajbmeb-2854	523	5	applied	apply	VERB
ajbmeb-2854	523	6	finance	finance	NOUN
ajbmeb-2854	523	7	,	,	PUNCT
ajbmeb-2854	523	8	12	12	NUM
ajbmeb-2854	523	9	,	,	PUNCT
ajbmeb-2854	523	10	21	21	NUM
ajbmeb-2854	523	11	-	-	SYM
ajbmeb-2854	523	12	38	38	NUM
ajbmeb-2854	523	13	.	.	PUNCT
ajbmeb-2854	524	1	https://scholar.google.com/scholar_lookup?title=payout+policy&author=michaely,+roni&author=and+franklin+allen&publication_year=2002&journal=ssrn+journal&volume=1&pages=56%e2%80%93112&doi=10.2139/ssrn.309589	https://scholar.google.com/scholar_lookup?title=payout+policy&author=michaely,+roni&author=and+franklin+allen&publication_year=2002&journal=ssrn+journal&volume=1&pages=56%e2%80%93112&doi=10.2139/ssrn.309589	PROPN
ajbmeb-2854	524	2	https://doi.org/10.2139/ssrn.309589	https://doi.org/10.2139/ssrn.309589	PROPN
ajbmeb-2854	524	3	https://scholar.google.com/scholar_lookup?title=decision-making+and+organizational+effectiveness:+participation+and+perceptions&author=miller,+jon&publication_year=1980&journal=sociology+of+work+and+occupations&volume=7&pages=55%e2%80%9379&doi=10.1177/009392858071003	https://scholar.google.com/scholar_lookup?title=decision-making+and+organizational+effectiveness:+participation+and+perceptions&author=miller,+jon&publication_year=1980&journal=sociology+of+work+and+occupations&volume=7&pages=55%e2%80%9379&doi=10.1177/009392858071003	PROPN
ajbmeb-2854	524	4	https://doi.org/10.1177/009392858071003	https://doi.org/10.1177/009392858071003	NOUN
ajbmeb-2854	524	5	https://doi.org/10.1177/097215091001200110	https://doi.org/10.1177/097215091001200110	PROPN
ajbmeb-2854	524	6	american	american	PROPN
ajbmeb-2854	524	7	journal	journal	PROPN
ajbmeb-2854	524	8	of	of	ADP
ajbmeb-2854	524	9	business	business	NOUN
ajbmeb-2854	524	10	management	management	NOUN
ajbmeb-2854	524	11	,	,	PUNCT
ajbmeb-2854	524	12	economics	economic	NOUN
ajbmeb-2854	524	13	and	and	CCONJ
ajbmeb-2854	524	14	banking	banking	NOUN
ajbmeb-2854	524	15	volume	volume	NOUN
ajbmeb-2854	524	16	35	35	NUM
ajbmeb-2854	524	17	april	april	PROPN
ajbmeb-2854	524	18	2025	2025	NUM
ajbmeb-2854	524	19	p	p	NOUN
ajbmeb-2854	524	20	a	a	DET
ajbmeb-2854	524	21	g	g	NOUN
ajbmeb-2854	524	22	e	e	NOUN
ajbmeb-2854	524	23	|	|	ADV
ajbmeb-2854	524	24	64	64	NUM
ajbmeb-2854	524	25	www.americanjournal.org	www.americanjournal.org	PROPN
ajbmeb-2854	524	26	63	63	NUM
ajbmeb-2854	524	27	.	.	PUNCT
ajbmeb-2854	525	1	sharif	sharif	PROPN
ajbmeb-2854	525	2	,	,	PUNCT
ajbmeb-2854	525	3	s.	s.	PROPN
ajbmeb-2854	525	4	p.	p.	PROPN
ajbmeb-2854	525	5	,	,	PUNCT
ajbmeb-2854	525	6	&	&	CCONJ
ajbmeb-2854	525	7	lai	lai	PROPN
ajbmeb-2854	525	8	,	,	PUNCT
ajbmeb-2854	525	9	m.	m.	NOUN
ajbmeb-2854	525	10	m.	m.	NOUN
ajbmeb-2854	525	11	(	(	PUNCT
ajbmeb-2854	525	12	2015	2015	NUM
ajbmeb-2854	525	13	)	)	PUNCT
ajbmeb-2854	525	14	.	.	PUNCT
ajbmeb-2854	526	1	the	the	DET
ajbmeb-2854	526	2	effects	effect	NOUN
ajbmeb-2854	526	3	of	of	ADP
ajbmeb-2854	526	4	corporate	corporate	ADJ
ajbmeb-2854	526	5	disclosure	disclosure	NOUN
ajbmeb-2854	526	6	practices	practice	NOUN
ajbmeb-2854	526	7	on	on	ADP
ajbmeb-2854	526	8	firm	firm	ADJ
ajbmeb-2854	526	9	performance	performance	NOUN
ajbmeb-2854	526	10	,	,	PUNCT
ajbmeb-2854	526	11	risk	risk	NOUN
ajbmeb-2854	526	12	and	and	CCONJ
ajbmeb-2854	526	13	dividend	dividend	NOUN
ajbmeb-2854	526	14	policy	policy	NOUN
ajbmeb-2854	526	15	.	.	PUNCT
ajbmeb-2854	527	1	international	international	ADJ
ajbmeb-2854	527	2	journal	journal	PROPN
ajbmeb-2854	527	3	of	of	ADP
ajbmeb-2854	527	4	disclosure	disclosure	NOUN
ajbmeb-2854	527	5	and	and	CCONJ
ajbmeb-2854	527	6	governance,12(4	governance,12(4	PROPN
ajbmeb-2854	527	7	)	)	PUNCT
ajbmeb-2854	527	8	,	,	PUNCT
ajbmeb-2854	527	9	311	311	NUM
ajbmeb-2854	527	10	-	-	SYM
ajbmeb-2854	527	11	326	326	NUM
ajbmeb-2854	527	12	.	.	NUM
ajbmeb-2854	528	1	64	64	NUM
ajbmeb-2854	528	2	.	.	PUNCT
ajbmeb-2854	528	3	shefrin	shefrin	NOUN
ajbmeb-2854	528	4	,	,	PUNCT
ajbmeb-2854	528	5	h.	h.	PROPN
ajbmeb-2854	528	6	(	(	PUNCT
ajbmeb-2854	528	7	2010	2010	NUM
ajbmeb-2854	528	8	)	)	PUNCT
ajbmeb-2854	528	9	.	.	PUNCT
ajbmeb-2854	529	1	behavioral	behavioral	ADJ
ajbmeb-2854	529	2	zing	ze	VERB
ajbmeb-2854	529	3	finance	finance	NOUN
ajbmeb-2854	529	4	.	.	PUNCT
ajbmeb-2854	530	1	foundations	foundation	NOUN
ajbmeb-2854	530	2	and	and	CCONJ
ajbmeb-2854	530	3	trends	trend	NOUN
ajbmeb-2854	530	4	in	in	ADP
ajbmeb-2854	530	5	finance.4	finance.4	PROPN
ajbmeb-2854	530	6	(	(	PUNCT
ajbmeb-2854	530	7	1),1	1),1	PROPN
ajbmeb-2854	530	8	-	-	PUNCT
ajbmeb-2854	530	9	184	184	NUM
ajbmeb-2854	530	10	.	.	PUNCT
ajbmeb-2854	530	11	65	65	NUM
ajbmeb-2854	530	12	.	.	PUNCT
ajbmeb-2854	530	13	shefrin	shefrin	NOUN
ajbmeb-2854	530	14	,	,	PUNCT
ajbmeb-2854	530	15	hersh	hersh	PROPN
ajbmeb-2854	530	16	m.	m.	PROPN
ajbmeb-2854	530	17	,	,	PUNCT
ajbmeb-2854	530	18	&	&	CCONJ
ajbmeb-2854	530	19	meir	meir	PROPN
ajbmeb-2854	530	20	statman	statman	PROPN
ajbmeb-2854	530	21	(	(	PUNCT
ajbmeb-2854	530	22	1984	1984	NUM
ajbmeb-2854	530	23	)	)	PUNCT
ajbmeb-2854	530	24	.	.	PUNCT
ajbmeb-2854	531	1	explaining	explain	VERB
ajbmeb-2854	531	2	investor	investor	NOUN
ajbmeb-2854	531	3	preference	preference	NOUN
ajbmeb-2854	531	4	for	for	ADP
ajbmeb-2854	531	5	cash	cash	NOUN
ajbmeb-2854	531	6	dividends	dividend	NOUN
ajbmeb-2854	531	7	.	.	PUNCT
ajbmeb-2854	532	1	journal	journal	NOUN
ajbmeb-2854	532	2	of	of	ADP
ajbmeb-2854	532	3	financial	financial	ADJ
ajbmeb-2854	532	4	economics	economic	NOUN
ajbmeb-2854	532	5	13	13	NUM
ajbmeb-2854	532	6	:	:	PUNCT
ajbmeb-2854	532	7	253–82	253–82	NUM
ajbmeb-2854	532	8	.	.	PUNCT
ajbmeb-2854	533	1	[	[	X
ajbmeb-2854	533	2	google	google	NOUN
ajbmeb-2854	533	3	scholar	scholar	NOUN
ajbmeb-2854	533	4	]	]	PUNCT
ajbmeb-2854	534	1	[	[	X
ajbmeb-2854	534	2	crossref	crossref	NOUN
ajbmeb-2854	534	3	66	66	NUM
ajbmeb-2854	534	4	.	.	PUNCT
ajbmeb-2854	535	1	shin	shin	NOUN
ajbmeb-2854	535	2	-	-	PUNCT
ajbmeb-2854	535	3	ping	ping	NOUN
ajbmeb-2854	535	4	,	,	PUNCT
ajbmeb-2854	535	5	l.&hui	l.&hui	PROPN
ajbmeb-2854	535	6	-	-	PUNCT
ajbmeb-2854	535	7	ju	ju	PROPN
ajbmeb-2854	535	8	,	,	PUNCT
ajbmeb-2854	535	9	c.	c.	PROPN
ajbmeb-2854	535	10	(	(	PUNCT
ajbmeb-2854	535	11	2011	2011	NUM
ajbmeb-2854	535	12	)	)	PUNCT
ajbmeb-2854	535	13	.	.	PUNCT
ajbmeb-2854	536	1	corporate	corporate	ADJ
ajbmeb-2854	536	2	governance	governance	NOUN
ajbmeb-2854	536	3	and	and	CCONJ
ajbmeb-2854	536	4	firm	firm	ADJ
ajbmeb-2854	536	5	value	value	NOUN
ajbmeb-2854	536	6	as	as	ADP
ajbmeb-2854	536	7	determinants	determinant	NOUN
ajbmeb-2854	536	8	of	of	ADP
ajbmeb-2854	536	9	ceocompensation	ceocompensation	NOUN
ajbmeb-2854	536	10	in	in	ADP
ajbmeb-2854	536	11	taiwan	taiwan	PROPN
ajbmeb-2854	536	12	:	:	PUNCT
ajbmeb-2854	536	13	2ls	2ls	NOUN
ajbmeb-2854	536	14	for	for	ADP
ajbmeb-2854	536	15	panel	panel	NOUN
ajbmeb-2854	536	16	data	datum	NOUN
ajbmeb-2854	536	17	model	model	NOUN
ajbmeb-2854	536	18	.	.	PUNCT
ajbmeb-2854	537	1	management	management	NOUN
ajbmeb-2854	537	2	research	research	PROPN
ajbmeb-2854	537	3	review	review	PROPN
ajbmeb-2854	537	4	,	,	PUNCT
ajbmeb-2854	537	5	34(3	34(3	NUM
ajbmeb-2854	537	6	)	)	PUNCT
ajbmeb-2854	537	7	,	,	PUNCT
ajbmeb-2854	537	8	256	256	NUM
ajbmeb-2854	537	9	-	-	SYM
ajbmeb-2854	537	10	265	265	NUM
ajbmeb-2854	537	11	67	67	NUM
ajbmeb-2854	537	12	.	.	PUNCT
ajbmeb-2854	538	1	spence	spence	NOUN
ajbmeb-2854	538	2	,	,	PUNCT
ajbmeb-2854	538	3	michael.(1973	michael.(1973	NOUN
ajbmeb-2854	538	4	)	)	PUNCT
ajbmeb-2854	538	5	.	.	PUNCT
ajbmeb-2854	539	1	job	job	NOUN
ajbmeb-2854	539	2	market	market	NOUN
ajbmeb-2854	539	3	signaling	signal	VERB
ajbmeb-2854	539	4	.	.	PUNCT
ajbmeb-2854	540	1	the	the	DET
ajbmeb-2854	540	2	quarterly	quarterly	ADJ
ajbmeb-2854	540	3	journal	journal	NOUN
ajbmeb-2854	540	4	of	of	ADP
ajbmeb-2854	540	5	economics	economic	NOUN
ajbmeb-2854	540	6	87	87	NUM
ajbmeb-2854	540	7	:	:	PUNCT
ajbmeb-2854	540	8	355–74	355–74	NUM
ajbmeb-2854	540	9	.	.	PUNCT
ajbmeb-2854	541	1	[	[	X
ajbmeb-2854	541	2	google	google	NOUN
ajbmeb-2854	541	3	scholar	scholar	NOUN
ajbmeb-2854	541	4	]	]	PUNCT
ajbmeb-2854	542	1	[	[	X
ajbmeb-2854	542	2	crossref	crossref	NOUN
ajbmeb-2854	542	3	68	68	NUM
ajbmeb-2854	542	4	.	.	PUNCT
ajbmeb-2854	542	5	sorin	sorin	NOUN
ajbmeb-2854	542	6	(	(	PUNCT
ajbmeb-2854	542	7	2016	2016	NUM
ajbmeb-2854	542	8	)	)	PUNCT
ajbmeb-2854	542	9	.	.	PUNCT
ajbmeb-2854	543	1	the	the	DET
ajbmeb-2854	543	2	impact	impact	NOUN
ajbmeb-2854	543	3	of	of	ADP
ajbmeb-2854	543	4	enterprise	enterprise	NOUN
ajbmeb-2854	543	5	risk	risk	NOUN
ajbmeb-2854	543	6	management	management	NOUN
ajbmeb-2854	543	7	on	on	ADP
ajbmeb-2854	543	8	firm	firm	ADJ
ajbmeb-2854	543	9	value	value	NOUN
ajbmeb-2854	543	10	:	:	PUNCT
ajbmeb-2854	543	11	empirical	empirical	ADJ
ajbmeb-2854	543	12	evidence	evidence	NOUN
ajbmeb-2854	543	13	.	.	PUNCT
ajbmeb-2854	544	1	69	69	NUM
ajbmeb-2854	544	2	.	.	PUNCT
ajbmeb-2854	544	3	journal	journal	NOUN
ajbmeb-2854	544	4	of	of	ADP
ajbmeb-2854	544	5	public	public	ADJ
ajbmeb-2854	544	6	administration	administration	NOUN
ajbmeb-2854	544	7	,	,	PUNCT
ajbmeb-2854	544	8	finance	finance	NOUN
ajbmeb-2854	544	9	and	and	CCONJ
ajbmeb-2854	544	10	law	law	NOUN
ajbmeb-2854	544	11	,	,	PUNCT
ajbmeb-2854	544	12	107	107	NUM
ajbmeb-2854	544	13	–	–	PUNCT
ajbmeb-2854	544	14	112	112	NUM
ajbmeb-2854	544	15	,	,	PUNCT
ajbmeb-2854	544	16	2016	2016	NUM
ajbmeb-2854	544	17	.	.	PUNCT
ajbmeb-2854	544	18	164	164	NUM
ajbmeb-2854	544	19	,	,	PUNCT
ajbmeb-2854	544	20	2016	2016	NUM
ajbmeb-2854	544	21	70	70	NUM
ajbmeb-2854	544	22	.	.	PUNCT
ajbmeb-2854	545	1	sugathadasa	sugathadasa	NOUN
ajbmeb-2854	545	2	,	,	PUNCT
ajbmeb-2854	545	3	k.	k.	PROPN
ajbmeb-2854	545	4	(	(	PUNCT
ajbmeb-2854	545	5	2018).the	2018).the	DET
ajbmeb-2854	545	6	impact	impact	NOUN
ajbmeb-2854	545	7	of	of	ADP
ajbmeb-2854	545	8	dividend	dividend	NOUN
ajbmeb-2854	545	9	policy	policy	NOUN
ajbmeb-2854	545	10	on	on	ADP
ajbmeb-2854	545	11	share	share	NOUN
ajbmeb-2854	545	12	price	price	NOUN
ajbmeb-2854	545	13	volatility	volatility	NOUN
ajbmeb-2854	545	14	:	:	PUNCT
ajbmeb-2854	545	15	empirical	empirical	ADJ
ajbmeb-2854	545	16	evidence	evidence	NOUN
ajbmeb-2854	545	17	with	with	ADP
ajbmeb-2854	545	18	colombo	colombo	NOUN
ajbmeb-2854	545	19	stock	stock	NOUN
ajbmeb-2854	545	20	exchange	exchange	NOUN
ajbmeb-2854	545	21	in	in	ADP
ajbmeb-2854	545	22	sri	sri	PROPN
ajbmeb-2854	545	23	lanka	lanka	PROPN
ajbmeb-2854	545	24	.	.	PUNCT
ajbmeb-2854	546	1	7	7	X
ajbmeb-2854	546	2	.	.	X
ajbmeb-2854	546	3	352	352	NUM
ajbmeb-2854	546	4	-	-	SYM
ajbmeb-2854	546	5	359	359	NUM
ajbmeb-2854	546	6	.	.	PUNCT
ajbmeb-2854	546	7	10.24940	10.24940	NUM
ajbmeb-2854	546	8	/	/	SYM
ajbmeb-2854	546	9	ijird/2018	ijird/2018	NOUN
ajbmeb-2854	546	10	/	/	SYM
ajbmeb-2854	546	11	v7	v7	VERB
ajbmeb-2854	546	12	/	/	SYM
ajbmeb-2854	546	13	i8/131041	i8/131041	NOUN
ajbmeb-2854	546	14	-	-	PUNCT
ajbmeb-2854	546	15	316982	316982	NUM
ajbmeb-2854	546	16	-	-	PUNCT
ajbmeb-2854	546	17	2	2	NUM
ajbmeb-2854	546	18	-	-	PUNCT
ajbmeb-2854	546	19	sm	sm	NOUN
ajbmeb-2854	546	20	.	.	PROPN
ajbmeb-2854	547	1	71	71	NUM
ajbmeb-2854	547	2	.	.	PUNCT
ajbmeb-2854	548	1	sugiastuti	sugiastuti	PROPN
ajbmeb-2854	548	2	,	,	PUNCT
ajbmeb-2854	548	3	r.	r.	PROPN
ajbmeb-2854	548	4	h.	h.	PROPN
ajbmeb-2854	548	5	,	,	PUNCT
ajbmeb-2854	548	6	dzulkirom	dzulkirom	PROPN
ajbmeb-2854	548	7	,	,	PUNCT
ajbmeb-2854	548	8	m.	m.	NOUN
ajbmeb-2854	548	9	,	,	PUNCT
ajbmeb-2854	548	10	&	&	CCONJ
ajbmeb-2854	548	11	rahayu	rahayu	PROPN
ajbmeb-2854	548	12	,	,	PUNCT
ajbmeb-2854	548	13	s.	s.	PROPN
ajbmeb-2854	548	14	m.	m.	PROPN
ajbmeb-2854	548	15	(	(	PUNCT
ajbmeb-2854	548	16	2018	2018	NUM
ajbmeb-2854	548	17	)	)	PUNCT
ajbmeb-2854	548	18	.	.	PUNCT
ajbmeb-2854	549	1	effect	effect	NOUN
ajbmeb-2854	549	2	of	of	ADP
ajbmeb-2854	549	3	profitability	profitability	NOUN
ajbmeb-2854	549	4	,	,	PUNCT
ajbmeb-2854	549	5	leverage	leverage	NOUN
ajbmeb-2854	549	6	,	,	PUNCT
ajbmeb-2854	549	7	toward	toward	ADP
ajbmeb-2854	549	8	dividend	dividend	NOUN
ajbmeb-2854	549	9	policy	policy	NOUN
ajbmeb-2854	549	10	and	and	CCONJ
ajbmeb-2854	549	11	firm	firm	ADJ
ajbmeb-2854	549	12	value	value	NOUN
ajbmeb-2854	549	13	.	.	PUNCT
ajbmeb-2854	550	1	russian	russian	ADJ
ajbmeb-2854	550	2	journal	journal	PROPN
ajbmeb-2854	550	3	of	of	ADP
ajbmeb-2854	550	4	agricultural	agricultural	PROPN
ajbmeb-2854	550	5	&	&	CCONJ
ajbmeb-2854	550	6	socio	socio	NOUN
ajbmeb-2854	550	7	-	-	PUNCT
ajbmeb-2854	550	8	economic	economic	ADJ
ajbmeb-2854	550	9	sciences	science	NOUN
ajbmeb-2854	550	10	,	,	PUNCT
ajbmeb-2854	550	11	80(8	80(8	NOUN
ajbmeb-2854	550	12	)	)	PUNCT
ajbmeb-2854	550	13	,	,	PUNCT
ajbmeb-2854	550	14	88-96.https://doi.org/10.18551/rjoas.2018	88-96.https://doi.org/10.18551/rjoas.2018	NUM
ajbmeb-2854	550	15	72	72	NUM
ajbmeb-2854	550	16	.	.	PUNCT
ajbmeb-2854	551	1	uddin	uddin	ADJ
ajbmeb-2854	551	2	,	,	PUNCT
ajbmeb-2854	551	3	m.	m.	PROPN
ajbmeb-2854	551	4	h.	h.	PROPN
ajbmeb-2854	551	5	,	,	PUNCT
ajbmeb-2854	551	6	&	&	CCONJ
ajbmeb-2854	551	7	chowdhury	chowdhury	PROPN
ajbmeb-2854	551	8	,	,	PUNCT
ajbmeb-2854	551	9	g.	g.	PROPN
ajbmeb-2854	551	10	m.	m.	PROPN
ajbmeb-2854	551	11	(	(	PUNCT
ajbmeb-2854	551	12	2005	2005	NUM
ajbmeb-2854	551	13	)	)	PUNCT
ajbmeb-2854	551	14	.	.	PUNCT
ajbmeb-2854	552	1	effect	effect	NOUN
ajbmeb-2854	552	2	of	of	ADP
ajbmeb-2854	552	3	dividend	dividend	NOUN
ajbmeb-2854	552	4	announcement	announcement	NOUN
ajbmeb-2854	552	5	on	on	ADP
ajbmeb-2854	552	6	73	73	NUM
ajbmeb-2854	552	7	.	.	PUNCT
ajbmeb-2854	553	1	shareholders	shareholder	NOUN
ajbmeb-2854	553	2	’	'	PUNCT
ajbmeb-2854	553	3	value	value	NOUN
ajbmeb-2854	553	4	:	:	PUNCT
ajbmeb-2854	553	5	evidence	evidence	NOUN
ajbmeb-2854	553	6	from	from	ADP
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ajbmeb-2854	554	5	,	,	PUNCT
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ajbmeb-2854	554	7	)	)	PUNCT
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ajbmeb-2854	557	14	https://scholar.google.com/scholar_lookup?title=job+market+signaling&author=spence,+michael&publication_year=1973&journal=the+quarterly+journal+of+economics&volume=87&pages=355%e2%80%9374&doi=10.2307/1882010	https://scholar.google.com/scholar_lookup?title=job+market+signaling&author=spence,+michael&publication_year=1973&journal=the+quarterly+journal+of+economics&volume=87&pages=355%e2%80%9374&doi=10.2307/1882010	NOUN
ajbmeb-2854	557	15	https://doi.org/10.2307/1882010	https://doi.org/10.2307/1882010	NOUN