id	sid	tid	token	lemma	pos
asir-55155	1	1	applied	apply	VERB
asir-55155	1	2	science	science	NOUN
asir-55155	1	3	and	and	CCONJ
asir-55155	1	4	innovative	innovative	ADJ
asir-55155	1	5	research	research	NOUN
asir-55155	1	6	issn	issn	VERB
asir-55155	1	7	2474	2474	NUM
asir-55155	1	8	-	-	SYM
asir-55155	1	9	4972	4972	NUM
asir-55155	1	10	(	(	PUNCT
asir-55155	1	11	print	print	NOUN
asir-55155	1	12	)	)	PUNCT
asir-55155	1	13	issn	issn	VERB
asir-55155	1	14	2474	2474	NUM
asir-55155	1	15	-	-	SYM
asir-55155	1	16	4980	4980	NUM
asir-55155	1	17	(	(	PUNCT
asir-55155	1	18	online	online	ADJ
asir-55155	1	19	)	)	PUNCT
asir-55155	1	20	vol	vol	NOUN
asir-55155	1	21	.	.	NOUN
asir-55155	1	22	8	8	NUM
asir-55155	1	23	,	,	PUNCT
asir-55155	1	24	no	no	INTJ
asir-55155	1	25	.	.	NOUN
asir-55155	1	26	4	4	NUM
asir-55155	1	27	,	,	PUNCT
asir-55155	1	28	2024	2024	NUM
asir-55155	1	29	www.scholink.org/ojs/index.php/asir	www.scholink.org/ojs/index.php/asir	NOUN
asir-55155	1	30	48	48	NUM
asir-55155	1	31	original	original	ADJ
asir-55155	1	32	paper	paper	NOUN
asir-55155	1	33	the	the	DET
asir-55155	1	34	impact	impact	NOUN
asir-55155	1	35	of	of	ADP
asir-55155	1	36	esg	esg	NOUN
asir-55155	1	37	performance	performance	NOUN
asir-55155	1	38	on	on	ADP
asir-55155	1	39	the	the	DET
asir-55155	1	40	financial	financial	ADJ
asir-55155	1	41	performance	performance	NOUN
asir-55155	1	42	of	of	ADP
asir-55155	1	43	chinese	chinese	ADJ
asir-55155	1	44	high	high	ADJ
asir-55155	1	45	-	-	PUNCT
asir-55155	1	46	tech	tech	NOUN
asir-55155	1	47	and	and	CCONJ
asir-55155	1	48	internet	internet	NOUN
asir-55155	1	49	industry	industry	NOUN
asir-55155	1	50	firms	firm	NOUN
asir-55155	1	51	yang	yang	PROPN
asir-55155	1	52	guo	guo	PROPN
asir-55155	1	53	school	school	PROPN
asir-55155	1	54	of	of	ADP
asir-55155	1	55	humanities	humanity	NOUN
asir-55155	1	56	and	and	CCONJ
asir-55155	1	57	urban	urban	ADJ
asir-55155	1	58	-	-	PUNCT
asir-55155	1	59	rural	rural	ADJ
asir-55155	1	60	development	development	NOUN
asir-55155	1	61	,	,	PUNCT
asir-55155	1	62	beijing	beijing	PROPN
asir-55155	1	63	university	university	PROPN
asir-55155	1	64	of	of	ADP
asir-55155	1	65	agriculture	agriculture	PROPN
asir-55155	1	66	,	,	PUNCT
asir-55155	1	67	beijing	beijing	PROPN
asir-55155	1	68	102206	102206	NUM
asir-55155	1	69	,	,	PUNCT
asir-55155	1	70	china	china	PROPN
asir-55155	1	71	received	receive	VERB
asir-55155	1	72	:	:	PUNCT
asir-55155	1	73	september	september	PROPN
asir-55155	1	74	8	8	NUM
asir-55155	1	75	,	,	PUNCT
asir-55155	1	76	2024	2024	NUM
asir-55155	1	77	accepted	accept	VERB
asir-55155	1	78	:	:	PUNCT
asir-55155	1	79	september	september	PROPN
asir-55155	1	80	18	18	NUM
asir-55155	1	81	,	,	PUNCT
asir-55155	1	82	2024	2024	NUM
asir-55155	1	83	online	online	ADV
asir-55155	1	84	published	publish	VERB
asir-55155	1	85	:	:	PUNCT
asir-55155	1	86	october	october	PROPN
asir-55155	1	87	14	14	NUM
asir-55155	1	88	,	,	PUNCT
asir-55155	1	89	2024	2024	NUM
asir-55155	1	90	doi:10.22158	doi:10.22158	NOUN
asir-55155	1	91	/	/	SYM
asir-55155	1	92	asir.v8n4p48	asir.v8n4p48	NOUN
asir-55155	1	93	url	url	PROPN
asir-55155	1	94	:	:	PUNCT
asir-55155	1	95	http://doi.org/10.22158/asir.v8n4p48	http://doi.org/10.22158/asir.v8n4p48	NOUN
asir-55155	1	96	abstract	abstract	ADJ
asir-55155	1	97	this	this	DET
asir-55155	1	98	study	study	NOUN
asir-55155	1	99	aims	aim	VERB
asir-55155	1	100	to	to	PART
asir-55155	1	101	explore	explore	VERB
asir-55155	1	102	the	the	DET
asir-55155	1	103	impact	impact	NOUN
asir-55155	1	104	of	of	ADP
asir-55155	1	105	environmental	environmental	ADJ
asir-55155	1	106	,	,	PUNCT
asir-55155	1	107	social	social	ADJ
asir-55155	1	108	,	,	PUNCT
asir-55155	1	109	and	and	CCONJ
asir-55155	1	110	governance	governance	NOUN
asir-55155	1	111	(	(	PUNCT
asir-55155	1	112	esg	esg	NOUN
asir-55155	1	113	)	)	PUNCT
asir-55155	1	114	performance	performance	NOUN
asir-55155	1	115	on	on	ADP
asir-55155	1	116	the	the	DET
asir-55155	1	117	financial	financial	ADJ
asir-55155	1	118	performance	performance	NOUN
asir-55155	1	119	of	of	ADP
asir-55155	1	120	firms	firm	NOUN
asir-55155	1	121	in	in	ADP
asir-55155	1	122	china	china	PROPN
asir-55155	1	123	’s	’s	PART
asir-55155	1	124	high	high	ADJ
asir-55155	1	125	-	-	PUNCT
asir-55155	1	126	tech	tech	NOUN
asir-55155	1	127	and	and	CCONJ
asir-55155	1	128	internet	internet	NOUN
asir-55155	1	129	industries	industry	NOUN
asir-55155	1	130	.	.	PUNCT
asir-55155	2	1	using	use	VERB
asir-55155	2	2	annual	annual	ADJ
asir-55155	2	3	data	datum	NOUN
asir-55155	2	4	from	from	ADP
asir-55155	2	5	100	100	NUM
asir-55155	2	6	companies	company	NOUN
asir-55155	2	7	spanning	span	VERB
asir-55155	2	8	from	from	ADP
asir-55155	2	9	2015	2015	NUM
asir-55155	2	10	to	to	ADP
asir-55155	2	11	2022	2022	NUM
asir-55155	2	12	,	,	PUNCT
asir-55155	2	13	a	a	DET
asir-55155	2	14	fixed	fix	VERB
asir-55155	2	15	effects	effect	NOUN
asir-55155	2	16	model	model	NOUN
asir-55155	2	17	is	be	AUX
asir-55155	2	18	applied	apply	VERB
asir-55155	2	19	for	for	ADP
asir-55155	2	20	empirical	empirical	ADJ
asir-55155	2	21	analysis	analysis	NOUN
asir-55155	2	22	.	.	PUNCT
asir-55155	3	1	the	the	DET
asir-55155	3	2	study	study	NOUN
asir-55155	3	3	finds	find	VERB
asir-55155	3	4	that	that	SCONJ
asir-55155	3	5	overall	overall	ADJ
asir-55155	3	6	esg	esg	NOUN
asir-55155	3	7	performance	performance	NOUN
asir-55155	3	8	has	have	VERB
asir-55155	3	9	a	a	DET
asir-55155	3	10	significant	significant	ADJ
asir-55155	3	11	positive	positive	ADJ
asir-55155	3	12	impact	impact	NOUN
asir-55155	3	13	on	on	ADP
asir-55155	3	14	firms	firm	NOUN
asir-55155	3	15	'	'	PART
asir-55155	3	16	return	return	NOUN
asir-55155	3	17	on	on	ADP
asir-55155	3	18	assets	asset	NOUN
asir-55155	3	19	(	(	PUNCT
asir-55155	3	20	roa	roa	NOUN
asir-55155	3	21	)	)	PUNCT
asir-55155	3	22	and	and	CCONJ
asir-55155	3	23	net	net	ADJ
asir-55155	3	24	profit	profit	NOUN
asir-55155	3	25	margin	margin	NOUN
asir-55155	3	26	(	(	PUNCT
asir-55155	3	27	npm	npm	PROPN
asir-55155	3	28	)	)	PUNCT
asir-55155	3	29	,	,	PUNCT
asir-55155	3	30	with	with	ADP
asir-55155	3	31	the	the	DET
asir-55155	3	32	governance	governance	NOUN
asir-55155	3	33	(	(	PUNCT
asir-55155	3	34	g	g	NOUN
asir-55155	3	35	)	)	PUNCT
asir-55155	3	36	and	and	CCONJ
asir-55155	3	37	social	social	ADJ
asir-55155	3	38	(	(	PUNCT
asir-55155	3	39	s	s	NOUN
asir-55155	3	40	)	)	PUNCT
asir-55155	3	41	dimensions	dimension	NOUN
asir-55155	3	42	showing	show	VERB
asir-55155	3	43	particularly	particularly	ADV
asir-55155	3	44	strong	strong	ADJ
asir-55155	3	45	effects	effect	NOUN
asir-55155	3	46	.	.	PUNCT
asir-55155	4	1	while	while	SCONJ
asir-55155	4	2	the	the	DET
asir-55155	4	3	environmental	environmental	ADJ
asir-55155	4	4	(	(	PUNCT
asir-55155	4	5	e	e	NOUN
asir-55155	4	6	)	)	PUNCT
asir-55155	4	7	dimension	dimension	NOUN
asir-55155	4	8	has	have	VERB
asir-55155	4	9	a	a	DET
asir-55155	4	10	weaker	weak	ADJ
asir-55155	4	11	short	short	ADJ
asir-55155	4	12	-	-	PUNCT
asir-55155	4	13	term	term	NOUN
asir-55155	4	14	impact	impact	NOUN
asir-55155	4	15	on	on	ADP
asir-55155	4	16	financial	financial	ADJ
asir-55155	4	17	performance	performance	NOUN
asir-55155	4	18	,	,	PUNCT
asir-55155	4	19	its	its	PRON
asir-55155	4	20	long	long	ADJ
asir-55155	4	21	-	-	PUNCT
asir-55155	4	22	term	term	NOUN
asir-55155	4	23	benefits	benefit	NOUN
asir-55155	4	24	are	be	AUX
asir-55155	4	25	undeniable	undeniable	ADJ
asir-55155	4	26	.	.	PUNCT
asir-55155	5	1	firm	firm	ADJ
asir-55155	5	2	size	size	NOUN
asir-55155	5	3	and	and	CCONJ
asir-55155	5	4	market	market	NOUN
asir-55155	5	5	share	share	NOUN
asir-55155	5	6	also	also	ADV
asir-55155	5	7	have	have	VERB
asir-55155	5	8	significant	significant	ADJ
asir-55155	5	9	positive	positive	ADJ
asir-55155	5	10	effects	effect	NOUN
asir-55155	5	11	on	on	ADP
asir-55155	5	12	financial	financial	ADJ
asir-55155	5	13	performance	performance	NOUN
asir-55155	5	14	.	.	PUNCT
asir-55155	6	1	the	the	DET
asir-55155	6	2	results	result	NOUN
asir-55155	6	3	suggest	suggest	VERB
asir-55155	6	4	that	that	SCONJ
asir-55155	6	5	optimizing	optimize	VERB
asir-55155	6	6	governance	governance	NOUN
asir-55155	6	7	structures	structure	NOUN
asir-55155	6	8	and	and	CCONJ
asir-55155	6	9	actively	actively	ADV
asir-55155	6	10	fulfilling	fulfil	VERB
asir-55155	6	11	social	social	ADJ
asir-55155	6	12	responsibilities	responsibility	NOUN
asir-55155	6	13	can	can	AUX
asir-55155	6	14	enhance	enhance	VERB
asir-55155	6	15	financial	financial	ADJ
asir-55155	6	16	performance	performance	NOUN
asir-55155	6	17	,	,	PUNCT
asir-55155	6	18	while	while	SCONJ
asir-55155	6	19	long	long	ADJ
asir-55155	6	20	-	-	PUNCT
asir-55155	6	21	term	term	NOUN
asir-55155	6	22	investments	investment	NOUN
asir-55155	6	23	in	in	ADP
asir-55155	6	24	environmental	environmental	ADJ
asir-55155	6	25	responsibility	responsibility	NOUN
asir-55155	6	26	should	should	AUX
asir-55155	6	27	be	be	AUX
asir-55155	6	28	integrated	integrate	VERB
asir-55155	6	29	into	into	ADP
asir-55155	6	30	corporate	corporate	ADJ
asir-55155	6	31	strategies	strategy	NOUN
asir-55155	6	32	.	.	PUNCT
asir-55155	7	1	overall	overall	ADV
asir-55155	7	2	,	,	PUNCT
asir-55155	7	3	the	the	DET
asir-55155	7	4	findings	finding	NOUN
asir-55155	7	5	provide	provide	VERB
asir-55155	7	6	empirical	empirical	ADJ
asir-55155	7	7	evidence	evidence	NOUN
asir-55155	7	8	for	for	ADP
asir-55155	7	9	companies	company	NOUN
asir-55155	7	10	in	in	ADP
asir-55155	7	11	formulating	formulate	VERB
asir-55155	7	12	esg	esg	NOUN
asir-55155	7	13	strategies	strategy	NOUN
asir-55155	7	14	and	and	CCONJ
asir-55155	7	15	offer	offer	VERB
asir-55155	7	16	specific	specific	ADJ
asir-55155	7	17	policy	policy	NOUN
asir-55155	7	18	recommendations	recommendation	NOUN
asir-55155	7	19	for	for	ADP
asir-55155	7	20	the	the	DET
asir-55155	7	21	sustainable	sustainable	ADJ
asir-55155	7	22	development	development	NOUN
asir-55155	7	23	of	of	ADP
asir-55155	7	24	china	china	PROPN
asir-55155	7	25	’s	’s	PART
asir-55155	7	26	high	high	ADJ
asir-55155	7	27	-	-	PUNCT
asir-55155	7	28	tech	tech	NOUN
asir-55155	7	29	and	and	CCONJ
asir-55155	7	30	internet	internet	NOUN
asir-55155	7	31	industries	industry	NOUN
asir-55155	7	32	.	.	PUNCT
asir-55155	8	1	keywords	keyword	VERB
asir-55155	8	2	esg	esg	NOUN
asir-55155	8	3	performance	performance	NOUN
asir-55155	8	4	,	,	PUNCT
asir-55155	8	5	financial	financial	ADJ
asir-55155	8	6	performance	performance	NOUN
asir-55155	8	7	,	,	PUNCT
asir-55155	8	8	high	high	ADJ
asir-55155	8	9	-	-	PUNCT
asir-55155	8	10	tech	tech	NOUN
asir-55155	8	11	industry	industry	NOUN
asir-55155	8	12	,	,	PUNCT
asir-55155	8	13	internet	internet	NOUN
asir-55155	8	14	industry	industry	NOUN
asir-55155	8	15	,	,	PUNCT
asir-55155	8	16	chinese	chinese	ADJ
asir-55155	8	17	market	market	NOUN
asir-55155	8	18	1	1	NUM
asir-55155	8	19	.	.	PUNCT
asir-55155	9	1	introduction	introduction	NOUN
asir-55155	9	2	1.1	1.1	NUM
asir-55155	9	3	research	research	NOUN
asir-55155	9	4	background	background	NOUN
asir-55155	9	5	in	in	ADP
asir-55155	9	6	recent	recent	ADJ
asir-55155	9	7	years	year	NOUN
asir-55155	9	8	,	,	PUNCT
asir-55155	9	9	environmental	environmental	ADJ
asir-55155	9	10	,	,	PUNCT
asir-55155	9	11	social	social	ADJ
asir-55155	9	12	,	,	PUNCT
asir-55155	9	13	and	and	CCONJ
asir-55155	9	14	governance	governance	NOUN
asir-55155	9	15	(	(	PUNCT
asir-55155	9	16	esg	esg	NOUN
asir-55155	9	17	)	)	PUNCT
asir-55155	9	18	performance	performance	NOUN
asir-55155	9	19	has	have	AUX
asir-55155	9	20	become	become	VERB
asir-55155	9	21	a	a	DET
asir-55155	9	22	critical	critical	ADJ
asir-55155	9	23	metric	metric	NOUN
asir-55155	9	24	for	for	ADP
asir-55155	9	25	global	global	ADJ
asir-55155	9	26	investors	investor	NOUN
asir-55155	9	27	.	.	PUNCT
asir-55155	10	1	as	as	SCONJ
asir-55155	10	2	china	china	PROPN
asir-55155	10	3	's	's	PART
asir-55155	10	4	economy	economy	NOUN
asir-55155	10	5	continues	continue	VERB
asir-55155	10	6	to	to	PART
asir-55155	10	7	grow	grow	VERB
asir-55155	10	8	rapidly	rapidly	ADV
asir-55155	10	9	,	,	PUNCT
asir-55155	10	10	the	the	DET
asir-55155	10	11	high	high	ADJ
asir-55155	10	12	-	-	PUNCT
asir-55155	10	13	tech	tech	NOUN
asir-55155	10	14	and	and	CCONJ
asir-55155	10	15	internet	internet	NOUN
asir-55155	10	16	industries	industry	NOUN
asir-55155	10	17	,	,	PUNCT
asir-55155	10	18	which	which	PRON
asir-55155	10	19	serve	serve	VERB
asir-55155	10	20	as	as	ADP
asir-55155	10	21	core	core	NOUN
asir-55155	10	22	drivers	driver	NOUN
asir-55155	10	23	of	of	ADP
asir-55155	10	24	china	china	PROPN
asir-55155	10	25	's	's	PART
asir-55155	10	26	economic	economic	ADJ
asir-55155	10	27	growth	growth	NOUN
asir-55155	10	28	,	,	PUNCT
asir-55155	10	29	are	be	AUX
asir-55155	10	30	facing	face	VERB
asir-55155	10	31	increasing	increase	VERB
asir-55155	10	32	esg	esg	NOUN
asir-55155	10	33	requirements	requirement	NOUN
asir-55155	10	34	.	.	PUNCT
asir-55155	11	1	the	the	DET
asir-55155	11	2	government	government	NOUN
asir-55155	11	3	has	have	AUX
asir-55155	11	4	implemented	implement	VERB
asir-55155	11	5	a	a	DET
asir-55155	11	6	series	series	NOUN
asir-55155	11	7	of	of	ADP
asir-55155	11	8	policies	policy	NOUN
asir-55155	11	9	aimed	aim	VERB
asir-55155	11	10	at	at	ADP
asir-55155	11	11	improving	improve	VERB
asir-55155	11	12	corporate	corporate	ADJ
asir-55155	11	13	www.scholink.org/ojs/index.php/asir	www.scholink.org/ojs/index.php/asir	NOUN
asir-55155	11	14	applied	apply	VERB
asir-55155	11	15	science	science	NOUN
asir-55155	11	16	and	and	CCONJ
asir-55155	11	17	innovative	innovative	ADJ
asir-55155	11	18	research	research	NOUN
asir-55155	11	19	vol	vol	NOUN
asir-55155	11	20	.	.	PROPN
asir-55155	11	21	8	8	NUM
asir-55155	11	22	,	,	PUNCT
asir-55155	11	23	no	no	INTJ
asir-55155	11	24	.	.	NOUN
asir-55155	11	25	4	4	NUM
asir-55155	11	26	,	,	PUNCT
asir-55155	11	27	2024	2024	NUM
asir-55155	11	28	49	49	NUM
asir-55155	11	29	published	publish	VERB
asir-55155	11	30	by	by	ADP
asir-55155	11	31	scholink	scholink	PROPN
asir-55155	11	32	inc	inc	PROPN
asir-55155	11	33	.	.	PROPN
asir-55155	11	34	performance	performance	NOUN
asir-55155	11	35	in	in	ADP
asir-55155	11	36	environmental	environmental	ADJ
asir-55155	11	37	protection	protection	NOUN
asir-55155	11	38	,	,	PUNCT
asir-55155	11	39	social	social	ADJ
asir-55155	11	40	responsibility	responsibility	NOUN
asir-55155	11	41	,	,	PUNCT
asir-55155	11	42	and	and	CCONJ
asir-55155	11	43	corporate	corporate	ADJ
asir-55155	11	44	governance	governance	NOUN
asir-55155	11	45	.	.	PUNCT
asir-55155	12	1	these	these	DET
asir-55155	12	2	policies	policy	NOUN
asir-55155	12	3	not	not	PART
asir-55155	12	4	only	only	ADV
asir-55155	12	5	impact	impact	VERB
asir-55155	12	6	corporate	corporate	ADJ
asir-55155	12	7	operational	operational	ADJ
asir-55155	12	8	models	model	NOUN
asir-55155	12	9	but	but	CCONJ
asir-55155	12	10	also	also	ADV
asir-55155	12	11	draw	draw	VERB
asir-55155	12	12	significant	significant	ADJ
asir-55155	12	13	attention	attention	NOUN
asir-55155	12	14	from	from	ADP
asir-55155	12	15	investors	investor	NOUN
asir-55155	12	16	and	and	CCONJ
asir-55155	12	17	academia	academia	NOUN
asir-55155	12	18	regarding	regard	VERB
asir-55155	12	19	the	the	DET
asir-55155	12	20	influence	influence	NOUN
asir-55155	12	21	of	of	ADP
asir-55155	12	22	esg	esg	PROPN
asir-55155	12	23	performance	performance	NOUN
asir-55155	12	24	on	on	ADP
asir-55155	12	25	corporate	corporate	ADJ
asir-55155	12	26	financial	financial	ADJ
asir-55155	12	27	performance	performance	NOUN
asir-55155	12	28	.	.	PUNCT
asir-55155	13	1	1.2	1.2	NUM
asir-55155	13	2	research	research	NOUN
asir-55155	13	3	motivation	motivation	NOUN
asir-55155	13	4	in	in	ADP
asir-55155	13	5	china	china	PROPN
asir-55155	13	6	,	,	PUNCT
asir-55155	13	7	high	high	ADJ
asir-55155	13	8	-	-	PUNCT
asir-55155	13	9	tech	tech	NOUN
asir-55155	13	10	and	and	CCONJ
asir-55155	13	11	internet	internet	NOUN
asir-55155	13	12	companies	company	NOUN
asir-55155	13	13	are	be	AUX
asir-55155	13	14	not	not	PART
asir-55155	13	15	only	only	ADV
asir-55155	13	16	at	at	ADP
asir-55155	13	17	the	the	DET
asir-55155	13	18	forefront	forefront	NOUN
asir-55155	13	19	of	of	ADP
asir-55155	13	20	driving	drive	VERB
asir-55155	13	21	innovation	innovation	NOUN
asir-55155	13	22	and	and	CCONJ
asir-55155	13	23	economic	economic	ADJ
asir-55155	13	24	growth	growth	NOUN
asir-55155	13	25	but	but	CCONJ
asir-55155	13	26	also	also	ADV
asir-55155	13	27	face	face	VERB
asir-55155	13	28	strict	strict	ADJ
asir-55155	13	29	regulations	regulation	NOUN
asir-55155	13	30	from	from	ADP
asir-55155	13	31	both	both	CCONJ
asir-55155	13	32	the	the	DET
asir-55155	13	33	public	public	ADJ
asir-55155	13	34	and	and	CCONJ
asir-55155	13	35	government	government	NOUN
asir-55155	13	36	.	.	PUNCT
asir-55155	14	1	the	the	DET
asir-55155	14	2	esg	esg	PROPN
asir-55155	14	3	performance	performance	NOUN
asir-55155	14	4	of	of	ADP
asir-55155	14	5	these	these	DET
asir-55155	14	6	companies	company	NOUN
asir-55155	14	7	affects	affect	VERB
asir-55155	14	8	not	not	PART
asir-55155	14	9	only	only	ADV
asir-55155	14	10	their	their	PRON
asir-55155	14	11	market	market	NOUN
asir-55155	14	12	reputation	reputation	NOUN
asir-55155	14	13	but	but	CCONJ
asir-55155	14	14	also	also	ADV
asir-55155	14	15	has	have	VERB
asir-55155	14	16	a	a	DET
asir-55155	14	17	potential	potential	ADJ
asir-55155	14	18	impact	impact	NOUN
asir-55155	14	19	on	on	ADP
asir-55155	14	20	their	their	PRON
asir-55155	14	21	financial	financial	ADJ
asir-55155	14	22	performance	performance	NOUN
asir-55155	14	23	.	.	PUNCT
asir-55155	15	1	therefore	therefore	ADV
asir-55155	15	2	,	,	PUNCT
asir-55155	15	3	understanding	understand	VERB
asir-55155	15	4	how	how	SCONJ
asir-55155	15	5	esg	esg	NOUN
asir-55155	15	6	performance	performance	NOUN
asir-55155	15	7	influences	influence	VERB
asir-55155	15	8	financial	financial	ADJ
asir-55155	15	9	outcomes	outcome	NOUN
asir-55155	15	10	is	be	AUX
asir-55155	15	11	critical	critical	ADJ
asir-55155	15	12	for	for	ADP
asir-55155	15	13	both	both	CCONJ
asir-55155	15	14	corporate	corporate	ADJ
asir-55155	15	15	strategic	strategic	ADJ
asir-55155	15	16	planning	planning	NOUN
asir-55155	15	17	and	and	CCONJ
asir-55155	15	18	investor	investor	NOUN
asir-55155	15	19	decision	decision	NOUN
asir-55155	15	20	-	-	PUNCT
asir-55155	15	21	making	making	NOUN
asir-55155	15	22	.	.	PUNCT
asir-55155	16	1	this	this	DET
asir-55155	16	2	study	study	NOUN
asir-55155	16	3	aims	aim	VERB
asir-55155	16	4	to	to	PART
asir-55155	16	5	reveal	reveal	VERB
asir-55155	16	6	the	the	DET
asir-55155	16	7	specific	specific	ADJ
asir-55155	16	8	impact	impact	NOUN
asir-55155	16	9	of	of	ADP
asir-55155	16	10	esg	esg	NOUN
asir-55155	16	11	performance	performance	NOUN
asir-55155	16	12	on	on	ADP
asir-55155	16	13	the	the	DET
asir-55155	16	14	financial	financial	ADJ
asir-55155	16	15	performance	performance	NOUN
asir-55155	16	16	of	of	ADP
asir-55155	16	17	chinese	chinese	ADJ
asir-55155	16	18	high	high	ADJ
asir-55155	16	19	-	-	PUNCT
asir-55155	16	20	tech	tech	NOUN
asir-55155	16	21	and	and	CCONJ
asir-55155	16	22	internet	internet	NOUN
asir-55155	16	23	firms	firm	NOUN
asir-55155	16	24	through	through	ADP
asir-55155	16	25	empirical	empirical	ADJ
asir-55155	16	26	analysis	analysis	NOUN
asir-55155	16	27	and	and	CCONJ
asir-55155	16	28	to	to	PART
asir-55155	16	29	provide	provide	VERB
asir-55155	16	30	relevant	relevant	ADJ
asir-55155	16	31	policy	policy	NOUN
asir-55155	16	32	recommendations	recommendation	NOUN
asir-55155	16	33	.	.	PUNCT
asir-55155	17	1	1.3	1.3	NUM
asir-55155	17	2	research	research	NOUN
asir-55155	17	3	objectives	objective	NOUN
asir-55155	17	4	and	and	CCONJ
asir-55155	17	5	questions	question	NOUN
asir-55155	17	6	the	the	DET
asir-55155	17	7	primary	primary	ADJ
asir-55155	17	8	objectives	objective	NOUN
asir-55155	17	9	of	of	ADP
asir-55155	17	10	this	this	DET
asir-55155	17	11	study	study	NOUN
asir-55155	17	12	are	be	AUX
asir-55155	17	13	as	as	SCONJ
asir-55155	17	14	follows	follow	VERB
asir-55155	17	15	:	:	PUNCT
asir-55155	17	16	to	to	PART
asir-55155	17	17	assess	assess	VERB
asir-55155	17	18	the	the	DET
asir-55155	17	19	impact	impact	NOUN
asir-55155	17	20	of	of	ADP
asir-55155	17	21	esg	esg	NOUN
asir-55155	17	22	performance	performance	NOUN
asir-55155	17	23	on	on	ADP
asir-55155	17	24	corporate	corporate	ADJ
asir-55155	17	25	financial	financial	ADJ
asir-55155	17	26	performance	performance	NOUN
asir-55155	17	27	,	,	PUNCT
asir-55155	17	28	including	include	VERB
asir-55155	17	29	return	return	NOUN
asir-55155	17	30	on	on	ADP
asir-55155	17	31	assets	asset	NOUN
asir-55155	17	32	(	(	PUNCT
asir-55155	17	33	roa	roa	NOUN
asir-55155	17	34	)	)	PUNCT
asir-55155	17	35	and	and	CCONJ
asir-55155	17	36	net	net	ADJ
asir-55155	17	37	profit	profit	NOUN
asir-55155	17	38	margin	margin	NOUN
asir-55155	17	39	(	(	PUNCT
asir-55155	17	40	npm	npm	PROPN
asir-55155	17	41	)	)	PUNCT
asir-55155	17	42	.	.	PUNCT
asir-55155	18	1	to	to	PART
asir-55155	18	2	analyze	analyze	VERB
asir-55155	18	3	the	the	DET
asir-55155	18	4	specific	specific	ADJ
asir-55155	18	5	effects	effect	NOUN
asir-55155	18	6	of	of	ADP
asir-55155	18	7	different	different	ADJ
asir-55155	18	8	dimensions	dimension	NOUN
asir-55155	18	9	of	of	ADP
asir-55155	18	10	esg	esg	PROPN
asir-55155	18	11	(	(	PUNCT
asir-55155	18	12	environmental	environmental	ADJ
asir-55155	18	13	,	,	PUNCT
asir-55155	18	14	social	social	ADJ
asir-55155	18	15	,	,	PUNCT
asir-55155	18	16	and	and	CCONJ
asir-55155	18	17	governance	governance	NOUN
asir-55155	18	18	)	)	PUNCT
asir-55155	18	19	on	on	ADP
asir-55155	18	20	financial	financial	ADJ
asir-55155	18	21	performance	performance	NOUN
asir-55155	18	22	.	.	PUNCT
asir-55155	19	1	to	to	PART
asir-55155	19	2	propose	propose	VERB
asir-55155	19	3	policy	policy	NOUN
asir-55155	19	4	recommendations	recommendation	NOUN
asir-55155	19	5	for	for	ADP
asir-55155	19	6	chinese	chinese	ADJ
asir-55155	19	7	high	high	ADJ
asir-55155	19	8	-	-	PUNCT
asir-55155	19	9	tech	tech	NOUN
asir-55155	19	10	and	and	CCONJ
asir-55155	19	11	internet	internet	NOUN
asir-55155	19	12	companies	company	NOUN
asir-55155	19	13	.	.	PUNCT
asir-55155	20	1	2	2	X
asir-55155	20	2	.	.	X
asir-55155	20	3	literature	literature	NOUN
asir-55155	20	4	review	review	VERB
asir-55155	20	5	2.1	2.1	NUM
asir-55155	20	6	definition	definition	NOUN
asir-55155	20	7	and	and	CCONJ
asir-55155	20	8	development	development	NOUN
asir-55155	20	9	of	of	ADP
asir-55155	20	10	esg	esg	PROPN
asir-55155	20	11	the	the	DET
asir-55155	20	12	environmental	environmental	ADJ
asir-55155	20	13	,	,	PUNCT
asir-55155	20	14	social	social	ADJ
asir-55155	20	15	,	,	PUNCT
asir-55155	20	16	and	and	CCONJ
asir-55155	20	17	governance	governance	NOUN
asir-55155	20	18	(	(	PUNCT
asir-55155	20	19	esg	esg	NOUN
asir-55155	20	20	)	)	PUNCT
asir-55155	20	21	framework	framework	NOUN
asir-55155	20	22	originated	originate	VERB
asir-55155	20	23	in	in	ADP
asir-55155	20	24	the	the	DET
asir-55155	20	25	1990s	1990	NOUN
asir-55155	20	26	and	and	CCONJ
asir-55155	20	27	has	have	AUX
asir-55155	20	28	gradually	gradually	ADV
asir-55155	20	29	become	become	VERB
asir-55155	20	30	an	an	DET
asir-55155	20	31	important	important	ADJ
asir-55155	20	32	standard	standard	NOUN
asir-55155	20	33	for	for	ADP
asir-55155	20	34	evaluating	evaluate	VERB
asir-55155	20	35	corporate	corporate	ADJ
asir-55155	20	36	social	social	ADJ
asir-55155	20	37	responsibility	responsibility	NOUN
asir-55155	20	38	(	(	PUNCT
asir-55155	20	39	csr	csr	NOUN
asir-55155	20	40	)	)	PUNCT
asir-55155	20	41	and	and	CCONJ
asir-55155	20	42	long	long	ADJ
asir-55155	20	43	-	-	PUNCT
asir-55155	20	44	term	term	NOUN
asir-55155	20	45	sustainability	sustainability	NOUN
asir-55155	20	46	as	as	ADP
asir-55155	20	47	the	the	DET
asir-55155	20	48	concept	concept	NOUN
asir-55155	20	49	of	of	ADP
asir-55155	20	50	global	global	ADJ
asir-55155	20	51	sustainable	sustainable	ADJ
asir-55155	20	52	development	development	NOUN
asir-55155	20	53	gains	gain	NOUN
asir-55155	20	54	traction	traction	NOUN
asir-55155	20	55	.	.	PUNCT
asir-55155	21	1	in	in	ADP
asir-55155	21	2	recent	recent	ADJ
asir-55155	21	3	years	year	NOUN
asir-55155	21	4	,	,	PUNCT
asir-55155	21	5	global	global	ADJ
asir-55155	21	6	investors	investor	NOUN
asir-55155	21	7	have	have	AUX
asir-55155	21	8	increasingly	increasingly	ADV
asir-55155	21	9	emphasized	emphasize	VERB
asir-55155	21	10	esg	esg	NOUN
asir-55155	21	11	performance	performance	NOUN
asir-55155	21	12	,	,	PUNCT
asir-55155	21	13	viewing	view	VERB
asir-55155	21	14	it	it	PRON
asir-55155	21	15	not	not	PART
asir-55155	21	16	only	only	ADV
asir-55155	21	17	as	as	ADP
asir-55155	21	18	a	a	DET
asir-55155	21	19	measure	measure	NOUN
asir-55155	21	20	of	of	ADP
asir-55155	21	21	corporate	corporate	ADJ
asir-55155	21	22	ethics	ethic	NOUN
asir-55155	21	23	and	and	CCONJ
asir-55155	21	24	responsibility	responsibility	NOUN
asir-55155	21	25	but	but	CCONJ
asir-55155	21	26	also	also	ADV
asir-55155	21	27	as	as	ADP
asir-55155	21	28	being	be	AUX
asir-55155	21	29	closely	closely	ADV
asir-55155	21	30	tied	tie	VERB
asir-55155	21	31	to	to	ADP
asir-55155	21	32	long	long	ADJ
asir-55155	21	33	-	-	PUNCT
asir-55155	21	34	term	term	NOUN
asir-55155	21	35	financial	financial	ADJ
asir-55155	21	36	performance	performance	NOUN
asir-55155	21	37	.	.	PUNCT
asir-55155	22	1	environmental	environmental	ADJ
asir-55155	22	2	:	:	PUNCT
asir-55155	22	3	this	this	DET
asir-55155	22	4	dimension	dimension	NOUN
asir-55155	22	5	covers	cover	VERB
asir-55155	22	6	corporate	corporate	ADJ
asir-55155	22	7	policies	policy	NOUN
asir-55155	22	8	,	,	PUNCT
asir-55155	22	9	measures	measure	NOUN
asir-55155	22	10	,	,	PUNCT
asir-55155	22	11	and	and	CCONJ
asir-55155	22	12	outcomes	outcome	NOUN
asir-55155	22	13	related	relate	VERB
asir-55155	22	14	to	to	ADP
asir-55155	22	15	environmental	environmental	ADJ
asir-55155	22	16	protection	protection	NOUN
asir-55155	22	17	,	,	PUNCT
asir-55155	22	18	such	such	ADJ
asir-55155	22	19	as	as	ADP
asir-55155	22	20	greenhouse	greenhouse	NOUN
asir-55155	22	21	gas	gas	NOUN
asir-55155	22	22	emissions	emission	NOUN
asir-55155	22	23	,	,	PUNCT
asir-55155	22	24	energy	energy	NOUN
asir-55155	22	25	usage	usage	NOUN
asir-55155	22	26	,	,	PUNCT
asir-55155	22	27	and	and	CCONJ
asir-55155	22	28	waste	waste	NOUN
asir-55155	22	29	management	management	NOUN
asir-55155	22	30	.	.	PUNCT
asir-55155	23	1	social	social	ADJ
asir-55155	23	2	:	:	PUNCT
asir-55155	23	3	this	this	PRON
asir-55155	23	4	measures	measure	VERB
asir-55155	23	5	corporate	corporate	ADJ
asir-55155	23	6	performance	performance	NOUN
asir-55155	23	7	in	in	ADP
asir-55155	23	8	areas	area	NOUN
asir-55155	23	9	like	like	ADP
asir-55155	23	10	employee	employee	NOUN
asir-55155	23	11	relations	relation	NOUN
asir-55155	23	12	,	,	PUNCT
asir-55155	23	13	social	social	ADJ
asir-55155	23	14	responsibility	responsibility	NOUN
asir-55155	23	15	,	,	PUNCT
asir-55155	23	16	and	and	CCONJ
asir-55155	23	17	supply	supply	NOUN
asir-55155	23	18	chain	chain	NOUN
asir-55155	23	19	management	management	NOUN
asir-55155	23	20	,	,	PUNCT
asir-55155	23	21	including	include	VERB
asir-55155	23	22	labor	labor	NOUN
asir-55155	23	23	rights	right	NOUN
asir-55155	23	24	protection	protection	NOUN
asir-55155	23	25	and	and	CCONJ
asir-55155	23	26	community	community	NOUN
asir-55155	23	27	relations	relation	NOUN
asir-55155	23	28	.	.	PUNCT
asir-55155	24	1	governance	governance	NOUN
asir-55155	24	2	:	:	PUNCT
asir-55155	24	3	this	this	PRON
asir-55155	24	4	reflects	reflect	VERB
asir-55155	24	5	the	the	DET
asir-55155	24	6	maturity	maturity	NOUN
asir-55155	24	7	of	of	ADP
asir-55155	24	8	corporate	corporate	ADJ
asir-55155	24	9	governance	governance	NOUN
asir-55155	24	10	structures	structure	NOUN
asir-55155	24	11	,	,	PUNCT
asir-55155	24	12	including	include	VERB
asir-55155	24	13	transparency	transparency	NOUN
asir-55155	24	14	,	,	PUNCT
asir-55155	24	15	board	board	NOUN
asir-55155	24	16	independence	independence	NOUN
asir-55155	24	17	,	,	PUNCT
asir-55155	24	18	and	and	CCONJ
asir-55155	24	19	executive	executive	ADJ
asir-55155	24	20	compensation	compensation	NOUN
asir-55155	24	21	mechanisms	mechanism	NOUN
asir-55155	24	22	.	.	PUNCT
asir-55155	25	1	as	as	SCONJ
asir-55155	25	2	esg	esg	PROPN
asir-55155	25	3	frameworks	framework	NOUN
asir-55155	25	4	become	become	VERB
asir-55155	25	5	global	global	ADJ
asir-55155	25	6	standards	standard	NOUN
asir-55155	25	7	,	,	PUNCT
asir-55155	25	8	numerous	numerous	ADJ
asir-55155	25	9	studies	study	NOUN
asir-55155	25	10	have	have	AUX
asir-55155	25	11	begun	begin	VERB
asir-55155	25	12	exploring	explore	VERB
asir-55155	25	13	how	how	SCONJ
asir-55155	25	14	each	each	DET
asir-55155	25	15	esg	esg	NOUN
asir-55155	25	16	dimension	dimension	NOUN
asir-55155	25	17	affects	affect	VERB
asir-55155	25	18	corporate	corporate	ADJ
asir-55155	25	19	performance	performance	NOUN
asir-55155	25	20	.	.	PUNCT
asir-55155	26	1	www.scholink.org/ojs/index.php/asir	www.scholink.org/ojs/index.php/asir	PROPN
asir-55155	26	2	applied	apply	VERB
asir-55155	26	3	science	science	NOUN
asir-55155	26	4	and	and	CCONJ
asir-55155	26	5	innovative	innovative	ADJ
asir-55155	26	6	research	research	NOUN
asir-55155	26	7	vol	vol	NOUN
asir-55155	26	8	.	.	PROPN
asir-55155	27	1	8	8	NUM
asir-55155	27	2	,	,	PUNCT
asir-55155	27	3	no	no	INTJ
asir-55155	27	4	.	.	NOUN
asir-55155	27	5	4	4	NUM
asir-55155	27	6	,	,	PUNCT
asir-55155	27	7	2024	2024	NUM
asir-55155	27	8	50	50	NUM
asir-55155	27	9	published	publish	VERB
asir-55155	27	10	by	by	ADP
asir-55155	27	11	scholink	scholink	PROPN
asir-55155	27	12	inc	inc	PROPN
asir-55155	27	13	.	.	PROPN
asir-55155	27	14	2.2	2.2	NUM
asir-55155	27	15	relationship	relationship	NOUN
asir-55155	27	16	between	between	ADP
asir-55155	27	17	esg	esg	PROPN
asir-55155	27	18	and	and	CCONJ
asir-55155	27	19	corporate	corporate	ADJ
asir-55155	27	20	financial	financial	ADJ
asir-55155	27	21	performance	performance	NOUN
asir-55155	27	22	a	a	DET
asir-55155	27	23	large	large	ADJ
asir-55155	27	24	body	body	NOUN
asir-55155	27	25	of	of	ADP
asir-55155	27	26	empirical	empirical	ADJ
asir-55155	27	27	research	research	NOUN
asir-55155	27	28	has	have	AUX
asir-55155	27	29	analyzed	analyze	VERB
asir-55155	27	30	the	the	DET
asir-55155	27	31	relationship	relationship	NOUN
asir-55155	27	32	between	between	ADP
asir-55155	27	33	esg	esg	NOUN
asir-55155	27	34	performance	performance	NOUN
asir-55155	27	35	and	and	CCONJ
asir-55155	27	36	corporate	corporate	ADJ
asir-55155	27	37	financial	financial	ADJ
asir-55155	27	38	performance	performance	NOUN
asir-55155	27	39	.	.	PUNCT
asir-55155	28	1	overall	overall	ADJ
asir-55155	28	2	,	,	PUNCT
asir-55155	28	3	most	most	ADJ
asir-55155	28	4	studies	study	NOUN
asir-55155	28	5	support	support	VERB
asir-55155	28	6	the	the	DET
asir-55155	28	7	view	view	NOUN
asir-55155	28	8	that	that	SCONJ
asir-55155	28	9	esg	esg	NOUN
asir-55155	28	10	performance	performance	NOUN
asir-55155	28	11	positively	positively	ADV
asir-55155	28	12	impacts	impact	VERB
asir-55155	28	13	long	long	ADJ
asir-55155	28	14	-	-	PUNCT
asir-55155	28	15	term	term	NOUN
asir-55155	28	16	corporate	corporate	ADJ
asir-55155	28	17	financial	financial	ADJ
asir-55155	28	18	health	health	NOUN
asir-55155	28	19	.	.	PUNCT
asir-55155	29	1	the	the	DET
asir-55155	29	2	main	main	ADJ
asir-55155	29	3	theoretical	theoretical	ADJ
asir-55155	29	4	justifications	justification	NOUN
asir-55155	29	5	include	include	VERB
asir-55155	29	6	:	:	PUNCT
asir-55155	29	7	positive	positive	ADJ
asir-55155	29	8	impact	impact	NOUN
asir-55155	29	9	hypothesis	hypothesis	NOUN
asir-55155	29	10	:	:	PUNCT
asir-55155	29	11	high	high	ADJ
asir-55155	29	12	levels	level	NOUN
asir-55155	29	13	of	of	ADP
asir-55155	29	14	esg	esg	PROPN
asir-55155	29	15	performance	performance	NOUN
asir-55155	29	16	can	can	AUX
asir-55155	29	17	enhance	enhance	VERB
asir-55155	29	18	corporate	corporate	ADJ
asir-55155	29	19	market	market	NOUN
asir-55155	29	20	reputation	reputation	NOUN
asir-55155	29	21	,	,	PUNCT
asir-55155	29	22	attract	attract	VERB
asir-55155	29	23	more	more	ADJ
asir-55155	29	24	investors	investor	NOUN
asir-55155	29	25	,	,	PUNCT
asir-55155	29	26	and	and	CCONJ
asir-55155	29	27	reduce	reduce	VERB
asir-55155	29	28	operational	operational	ADJ
asir-55155	29	29	risks	risk	NOUN
asir-55155	29	30	.	.	PUNCT
asir-55155	30	1	studies	study	NOUN
asir-55155	30	2	have	have	AUX
asir-55155	30	3	shown	show	VERB
asir-55155	30	4	that	that	SCONJ
asir-55155	30	5	proactive	proactive	ADJ
asir-55155	30	6	esg	esg	NOUN
asir-55155	30	7	strategies	strategy	NOUN
asir-55155	30	8	can	can	AUX
asir-55155	30	9	often	often	ADV
asir-55155	30	10	reduce	reduce	VERB
asir-55155	30	11	environmental	environmental	ADJ
asir-55155	30	12	liability	liability	NOUN
asir-55155	30	13	risks	risk	NOUN
asir-55155	30	14	and	and	CCONJ
asir-55155	30	15	social	social	ADJ
asir-55155	30	16	conflicts	conflict	NOUN
asir-55155	30	17	,	,	PUNCT
asir-55155	30	18	thereby	thereby	ADV
asir-55155	30	19	stabilizing	stabilize	VERB
asir-55155	30	20	financial	financial	ADJ
asir-55155	30	21	performance	performance	NOUN
asir-55155	30	22	(	(	PUNCT
asir-55155	30	23	friede	friede	NOUN
asir-55155	30	24	et	et	PROPN
asir-55155	30	25	al	al	PROPN
asir-55155	30	26	.	.	PROPN
asir-55155	30	27	,	,	PUNCT
asir-55155	30	28	2015	2015	NUM
asir-55155	30	29	)	)	PUNCT
asir-55155	30	30	.	.	PUNCT
asir-55155	31	1	market	market	NOUN
asir-55155	31	2	value	value	NOUN
asir-55155	31	3	enhancement	enhancement	NOUN
asir-55155	31	4	:	:	PUNCT
asir-55155	31	5	due	due	ADP
asir-55155	31	6	to	to	ADP
asir-55155	31	7	the	the	DET
asir-55155	31	8	market	market	NOUN
asir-55155	31	9	's	's	PART
asir-55155	31	10	recognition	recognition	NOUN
asir-55155	31	11	of	of	ADP
asir-55155	31	12	sustainable	sustainable	ADJ
asir-55155	31	13	development	development	NOUN
asir-55155	31	14	practices	practice	NOUN
asir-55155	31	15	,	,	PUNCT
asir-55155	31	16	companies	company	NOUN
asir-55155	31	17	with	with	ADP
asir-55155	31	18	strong	strong	ADJ
asir-55155	31	19	esg	esg	NOUN
asir-55155	31	20	performance	performance	NOUN
asir-55155	31	21	tend	tend	VERB
asir-55155	31	22	to	to	PART
asir-55155	31	23	achieve	achieve	VERB
asir-55155	31	24	higher	high	ADJ
asir-55155	31	25	market	market	NOUN
asir-55155	31	26	value	value	NOUN
asir-55155	31	27	.	.	PUNCT
asir-55155	32	1	for	for	ADP
asir-55155	32	2	example	example	NOUN
asir-55155	32	3	,	,	PUNCT
asir-55155	32	4	auer	auer	NOUN
asir-55155	32	5	and	and	CCONJ
asir-55155	32	6	schumacher	schumacher	PROPN
asir-55155	32	7	(	(	PUNCT
asir-55155	32	8	2016	2016	NUM
asir-55155	32	9	)	)	PUNCT
asir-55155	32	10	,	,	PUNCT
asir-55155	32	11	in	in	ADP
asir-55155	32	12	their	their	PRON
asir-55155	32	13	analysis	analysis	NOUN
asir-55155	32	14	of	of	ADP
asir-55155	32	15	esg	esg	PROPN
asir-55155	32	16	data	datum	NOUN
asir-55155	32	17	from	from	ADP
asir-55155	32	18	multiple	multiple	ADJ
asir-55155	32	19	countries	country	NOUN
asir-55155	32	20	,	,	PUNCT
asir-55155	32	21	found	find	VERB
asir-55155	32	22	that	that	SCONJ
asir-55155	32	23	companies	company	NOUN
asir-55155	32	24	with	with	ADP
asir-55155	32	25	high	high	ADJ
asir-55155	32	26	esg	esg	PROPN
asir-55155	32	27	scores	score	NOUN
asir-55155	32	28	generated	generate	VERB
asir-55155	32	29	significantly	significantly	ADV
asir-55155	32	30	higher	high	ADJ
asir-55155	32	31	shareholder	shareholder	NOUN
asir-55155	32	32	returns	return	NOUN
asir-55155	32	33	compared	compare	VERB
asir-55155	32	34	to	to	ADP
asir-55155	32	35	those	those	PRON
asir-55155	32	36	with	with	ADP
asir-55155	32	37	lower	low	ADJ
asir-55155	32	38	scores	score	NOUN
asir-55155	32	39	.	.	PUNCT
asir-55155	33	1	however	however	ADV
asir-55155	33	2	,	,	PUNCT
asir-55155	33	3	some	some	DET
asir-55155	33	4	research	research	NOUN
asir-55155	33	5	suggests	suggest	VERB
asir-55155	33	6	that	that	SCONJ
asir-55155	33	7	excessive	excessive	ADJ
asir-55155	33	8	investment	investment	NOUN
asir-55155	33	9	in	in	ADP
asir-55155	33	10	esg	esg	PROPN
asir-55155	33	11	may	may	AUX
asir-55155	33	12	increase	increase	VERB
asir-55155	33	13	operational	operational	ADJ
asir-55155	33	14	costs	cost	NOUN
asir-55155	33	15	in	in	ADP
asir-55155	33	16	the	the	DET
asir-55155	33	17	short	short	ADJ
asir-55155	33	18	term	term	NOUN
asir-55155	33	19	,	,	PUNCT
asir-55155	33	20	potentially	potentially	ADV
asir-55155	33	21	negatively	negatively	ADV
asir-55155	33	22	impacting	impact	VERB
asir-55155	33	23	financial	financial	ADJ
asir-55155	33	24	performance	performance	NOUN
asir-55155	33	25	(	(	PUNCT
asir-55155	33	26	garcia	garcia	PROPN
asir-55155	33	27	et	et	PROPN
asir-55155	33	28	al	al	PROPN
asir-55155	33	29	.	.	PROPN
asir-55155	33	30	,	,	PUNCT
asir-55155	33	31	2017	2017	NUM
asir-55155	33	32	)	)	PUNCT
asir-55155	33	33	.	.	PUNCT
asir-55155	34	1	thus	thus	ADV
asir-55155	34	2	,	,	PUNCT
asir-55155	34	3	the	the	DET
asir-55155	34	4	impact	impact	NOUN
asir-55155	34	5	of	of	ADP
asir-55155	34	6	esg	esg	PROPN
asir-55155	34	7	performance	performance	NOUN
asir-55155	34	8	on	on	ADP
asir-55155	34	9	financial	financial	ADJ
asir-55155	34	10	outcomes	outcome	NOUN
asir-55155	34	11	can	can	AUX
asir-55155	34	12	vary	vary	VERB
asir-55155	34	13	by	by	ADP
asir-55155	34	14	country	country	NOUN
asir-55155	34	15	,	,	PUNCT
asir-55155	34	16	industry	industry	NOUN
asir-55155	34	17	,	,	PUNCT
asir-55155	34	18	and	and	CCONJ
asir-55155	34	19	type	type	NOUN
asir-55155	34	20	of	of	ADP
asir-55155	34	21	company	company	NOUN
asir-55155	34	22	.	.	PUNCT
asir-55155	35	1	2.3	2.3	NUM
asir-55155	35	2	esg	esg	NOUN
asir-55155	35	3	performance	performance	NOUN
asir-55155	35	4	in	in	ADP
asir-55155	35	5	the	the	DET
asir-55155	35	6	high	high	ADJ
asir-55155	35	7	-	-	PUNCT
asir-55155	35	8	tech	tech	NOUN
asir-55155	35	9	and	and	CCONJ
asir-55155	35	10	internet	internet	NOUN
asir-55155	35	11	industries	industry	NOUN
asir-55155	35	12	the	the	DET
asir-55155	35	13	unique	unique	ADJ
asir-55155	35	14	nature	nature	NOUN
asir-55155	35	15	of	of	ADP
asir-55155	35	16	the	the	DET
asir-55155	35	17	high	high	ADJ
asir-55155	35	18	-	-	PUNCT
asir-55155	35	19	tech	tech	NOUN
asir-55155	35	20	and	and	CCONJ
asir-55155	35	21	internet	internet	NOUN
asir-55155	35	22	industries	industry	NOUN
asir-55155	35	23	lies	lie	VERB
asir-55155	35	24	in	in	ADP
asir-55155	35	25	their	their	PRON
asir-55155	35	26	rapid	rapid	ADJ
asir-55155	35	27	development	development	NOUN
asir-55155	35	28	and	and	CCONJ
asir-55155	35	29	technological	technological	ADJ
asir-55155	35	30	innovation	innovation	NOUN
asir-55155	35	31	.	.	PUNCT
asir-55155	36	1	companies	company	NOUN
asir-55155	36	2	in	in	ADP
asir-55155	36	3	these	these	DET
asir-55155	36	4	sectors	sector	NOUN
asir-55155	36	5	not	not	PART
asir-55155	36	6	only	only	ADV
asir-55155	36	7	face	face	VERB
asir-55155	36	8	intense	intense	ADJ
asir-55155	36	9	market	market	NOUN
asir-55155	36	10	competition	competition	NOUN
asir-55155	36	11	but	but	CCONJ
asir-55155	36	12	also	also	ADV
asir-55155	36	13	must	must	AUX
asir-55155	36	14	address	address	VERB
asir-55155	36	15	heightened	heighten	VERB
asir-55155	36	16	social	social	ADJ
asir-55155	36	17	scrutiny	scrutiny	NOUN
asir-55155	36	18	in	in	ADP
asir-55155	36	19	areas	area	NOUN
asir-55155	36	20	such	such	ADJ
asir-55155	36	21	as	as	ADP
asir-55155	36	22	data	data	NOUN
asir-55155	36	23	privacy	privacy	NOUN
asir-55155	36	24	,	,	PUNCT
asir-55155	36	25	labor	labor	NOUN
asir-55155	36	26	conditions	condition	NOUN
asir-55155	36	27	,	,	PUNCT
asir-55155	36	28	and	and	CCONJ
asir-55155	36	29	environmental	environmental	ADJ
asir-55155	36	30	responsibility	responsibility	NOUN
asir-55155	36	31	.	.	PUNCT
asir-55155	37	1	compared	compare	VERB
asir-55155	37	2	to	to	ADP
asir-55155	37	3	traditional	traditional	ADJ
asir-55155	37	4	industries	industry	NOUN
asir-55155	37	5	,	,	PUNCT
asir-55155	37	6	high	high	ADJ
asir-55155	37	7	-	-	PUNCT
asir-55155	37	8	tech	tech	NOUN
asir-55155	37	9	firms	firm	NOUN
asir-55155	37	10	are	be	AUX
asir-55155	37	11	more	more	ADV
asir-55155	37	12	susceptible	susceptible	ADJ
asir-55155	37	13	to	to	ADP
asir-55155	37	14	the	the	DET
asir-55155	37	15	influence	influence	NOUN
asir-55155	37	16	of	of	ADP
asir-55155	37	17	esg	esg	PROPN
asir-55155	37	18	performance	performance	NOUN
asir-55155	37	19	for	for	ADP
asir-55155	37	20	several	several	ADJ
asir-55155	37	21	reasons	reason	NOUN
asir-55155	37	22	:	:	PUNCT
asir-55155	37	23	high	high	ADJ
asir-55155	37	24	public	public	ADJ
asir-55155	37	25	exposure	exposure	NOUN
asir-55155	37	26	:	:	PUNCT
asir-55155	37	27	high	high	ADJ
asir-55155	37	28	-	-	PUNCT
asir-55155	37	29	tech	tech	NOUN
asir-55155	37	30	companies	company	NOUN
asir-55155	37	31	tend	tend	VERB
asir-55155	37	32	to	to	PART
asir-55155	37	33	have	have	VERB
asir-55155	37	34	a	a	DET
asir-55155	37	35	larger	large	ADJ
asir-55155	37	36	market	market	NOUN
asir-55155	37	37	impact	impact	NOUN
asir-55155	37	38	and	and	CCONJ
asir-55155	37	39	greater	great	ADJ
asir-55155	37	40	public	public	ADJ
asir-55155	37	41	attention	attention	NOUN
asir-55155	37	42	.	.	PUNCT
asir-55155	38	1	any	any	DET
asir-55155	38	2	negative	negative	ADJ
asir-55155	38	3	social	social	ADJ
asir-55155	38	4	or	or	CCONJ
asir-55155	38	5	environmental	environmental	ADJ
asir-55155	38	6	events	event	NOUN
asir-55155	38	7	could	could	AUX
asir-55155	38	8	significantly	significantly	ADV
asir-55155	38	9	damage	damage	VERB
asir-55155	38	10	their	their	PRON
asir-55155	38	11	brand	brand	NOUN
asir-55155	38	12	image	image	NOUN
asir-55155	38	13	and	and	CCONJ
asir-55155	38	14	financial	financial	ADJ
asir-55155	38	15	performance	performance	NOUN
asir-55155	38	16	(	(	PUNCT
asir-55155	38	17	cheng	cheng	PROPN
asir-55155	38	18	et	et	PROPN
asir-55155	38	19	al	al	PROPN
asir-55155	38	20	.	.	PROPN
asir-55155	38	21	,	,	PUNCT
asir-55155	38	22	2014	2014	NUM
asir-55155	38	23	)	)	PUNCT
asir-55155	38	24	.	.	PUNCT
asir-55155	39	1	data	datum	NOUN
asir-55155	39	2	and	and	CCONJ
asir-55155	39	3	privacy	privacy	NOUN
asir-55155	39	4	issues	issue	NOUN
asir-55155	39	5	:	:	PUNCT
asir-55155	39	6	particularly	particularly	ADV
asir-55155	39	7	in	in	ADP
asir-55155	39	8	the	the	DET
asir-55155	39	9	internet	internet	NOUN
asir-55155	39	10	sector	sector	NOUN
asir-55155	39	11	,	,	PUNCT
asir-55155	39	12	companies	company	NOUN
asir-55155	39	13	handle	handle	VERB
asir-55155	39	14	large	large	ADJ
asir-55155	39	15	amounts	amount	NOUN
asir-55155	39	16	of	of	ADP
asir-55155	39	17	user	user	NOUN
asir-55155	39	18	data	datum	NOUN
asir-55155	39	19	,	,	PUNCT
asir-55155	39	20	making	make	VERB
asir-55155	39	21	their	their	PRON
asir-55155	39	22	performance	performance	NOUN
asir-55155	39	23	on	on	ADP
asir-55155	39	24	the	the	DET
asir-55155	39	25	"	"	PUNCT
asir-55155	39	26	social	social	ADJ
asir-55155	39	27	"	"	PUNCT
asir-55155	39	28	dimension	dimension	NOUN
asir-55155	39	29	of	of	ADP
asir-55155	39	30	esg	esg	PROPN
asir-55155	39	31	crucial	crucial	ADJ
asir-55155	39	32	to	to	ADP
asir-55155	39	33	their	their	PRON
asir-55155	39	34	market	market	NOUN
asir-55155	39	35	standing	standing	NOUN
asir-55155	39	36	.	.	PUNCT
asir-55155	40	1	innovation	innovation	NOUN
asir-55155	40	2	-	-	PUNCT
asir-55155	40	3	driven	drive	VERB
asir-55155	40	4	:	:	PUNCT
asir-55155	40	5	the	the	DET
asir-55155	40	6	high	high	ADJ
asir-55155	40	7	-	-	PUNCT
asir-55155	40	8	tech	tech	NOUN
asir-55155	40	9	industry	industry	NOUN
asir-55155	40	10	depends	depend	VERB
asir-55155	40	11	on	on	ADP
asir-55155	40	12	technological	technological	ADJ
asir-55155	40	13	innovation	innovation	NOUN
asir-55155	40	14	,	,	PUNCT
asir-55155	40	15	which	which	PRON
asir-55155	40	16	is	be	AUX
asir-55155	40	17	closely	closely	ADV
asir-55155	40	18	linked	link	VERB
asir-55155	40	19	to	to	ADP
asir-55155	40	20	the	the	DET
asir-55155	40	21	"	"	PUNCT
asir-55155	40	22	environmental	environmental	ADJ
asir-55155	40	23	"	"	PUNCT
asir-55155	40	24	dimension	dimension	NOUN
asir-55155	40	25	of	of	ADP
asir-55155	40	26	esg	esg	PROPN
asir-55155	40	27	,	,	PUNCT
asir-55155	40	28	especially	especially	ADV
asir-55155	40	29	in	in	ADP
asir-55155	40	30	areas	area	NOUN
asir-55155	40	31	such	such	ADJ
asir-55155	40	32	as	as	ADP
asir-55155	40	33	clean	clean	ADJ
asir-55155	40	34	technology	technology	NOUN
asir-55155	40	35	and	and	CCONJ
asir-55155	40	36	sustainable	sustainable	ADJ
asir-55155	40	37	energy	energy	NOUN
asir-55155	40	38	.	.	PUNCT
asir-55155	41	1	for	for	ADP
asir-55155	41	2	instance	instance	NOUN
asir-55155	41	3	,	,	PUNCT
asir-55155	41	4	chinese	chinese	ADJ
asir-55155	41	5	tech	tech	NOUN
asir-55155	41	6	giants	giant	NOUN
asir-55155	41	7	like	like	ADP
asir-55155	41	8	alibaba	alibaba	PROPN
asir-55155	41	9	and	and	CCONJ
asir-55155	41	10	tencent	tencent	NOUN
asir-55155	41	11	have	have	AUX
asir-55155	41	12	increasingly	increasingly	ADV
asir-55155	41	13	incorporated	incorporate	VERB
asir-55155	41	14	environmental	environmental	ADJ
asir-55155	41	15	responsibility	responsibility	NOUN
asir-55155	41	16	and	and	CCONJ
asir-55155	41	17	social	social	ADJ
asir-55155	41	18	contributions	contribution	NOUN
asir-55155	41	19	into	into	ADP
asir-55155	41	20	their	their	PRON
asir-55155	41	21	esg	esg	NOUN
asir-55155	41	22	strategies	strategy	NOUN
asir-55155	41	23	while	while	SCONJ
asir-55155	41	24	optimizing	optimize	VERB
asir-55155	41	25	governance	governance	NOUN
asir-55155	41	26	structures	structure	NOUN
asir-55155	41	27	to	to	PART
asir-55155	41	28	enhance	enhance	VERB
asir-55155	41	29	market	market	NOUN
asir-55155	41	30	recognition	recognition	NOUN
asir-55155	41	31	and	and	CCONJ
asir-55155	41	32	financial	financial	ADJ
asir-55155	41	33	health	health	NOUN
asir-55155	41	34	.	.	PUNCT
asir-55155	42	1	2.4	2.4	NUM
asir-55155	42	2	research	research	NOUN
asir-55155	42	3	gap	gap	NOUN
asir-55155	42	4	and	and	CCONJ
asir-55155	42	5	innovation	innovation	NOUN
asir-55155	42	6	while	while	SCONJ
asir-55155	42	7	existing	exist	VERB
asir-55155	42	8	literature	literature	NOUN
asir-55155	42	9	has	have	AUX
asir-55155	42	10	explored	explore	VERB
asir-55155	42	11	the	the	DET
asir-55155	42	12	relationship	relationship	NOUN
asir-55155	42	13	between	between	ADP
asir-55155	42	14	esg	esg	NOUN
asir-55155	42	15	performance	performance	NOUN
asir-55155	42	16	and	and	CCONJ
asir-55155	42	17	corporate	corporate	ADJ
asir-55155	42	18	financial	financial	ADJ
asir-55155	42	19	performance	performance	NOUN
asir-55155	42	20	,	,	PUNCT
asir-55155	42	21	empirical	empirical	ADJ
asir-55155	42	22	analyses	analysis	NOUN
asir-55155	42	23	focusing	focus	VERB
asir-55155	42	24	on	on	ADP
asir-55155	42	25	china	china	PROPN
asir-55155	42	26	's	's	PART
asir-55155	42	27	high	high	ADJ
asir-55155	42	28	-	-	PUNCT
asir-55155	42	29	tech	tech	NOUN
asir-55155	42	30	and	and	CCONJ
asir-55155	42	31	internet	internet	NOUN
asir-55155	42	32	industries	industry	NOUN
asir-55155	42	33	remain	remain	VERB
asir-55155	42	34	limited	limited	ADJ
asir-55155	42	35	.	.	PUNCT
asir-55155	43	1	most	most	ADJ
asir-55155	43	2	studies	study	NOUN
asir-55155	43	3	have	have	AUX
asir-55155	43	4	centered	center	VERB
asir-55155	43	5	on	on	ADP
asir-55155	43	6	developed	develop	VERB
asir-55155	43	7	markets	market	NOUN
asir-55155	43	8	or	or	CCONJ
asir-55155	43	9	traditional	traditional	ADJ
asir-55155	43	10	industries	industry	NOUN
asir-55155	43	11	,	,	PUNCT
asir-55155	43	12	leaving	leave	VERB
asir-55155	43	13	a	a	DET
asir-55155	43	14	gap	gap	NOUN
asir-55155	43	15	in	in	ADP
asir-55155	43	16	the	the	DET
asir-55155	43	17	www.scholink.org/ojs/index.php/asir	www.scholink.org/ojs/index.php/asir	NOUN
asir-55155	43	18	applied	apply	VERB
asir-55155	43	19	science	science	NOUN
asir-55155	43	20	and	and	CCONJ
asir-55155	43	21	innovative	innovative	ADJ
asir-55155	43	22	research	research	NOUN
asir-55155	43	23	vol	vol	NOUN
asir-55155	43	24	.	.	PROPN
asir-55155	44	1	8	8	NUM
asir-55155	44	2	,	,	PUNCT
asir-55155	44	3	no	no	INTJ
asir-55155	44	4	.	.	NOUN
asir-55155	44	5	4	4	NUM
asir-55155	44	6	,	,	PUNCT
asir-55155	44	7	2024	2024	NUM
asir-55155	44	8	51	51	NUM
asir-55155	44	9	published	publish	VERB
asir-55155	44	10	by	by	ADP
asir-55155	44	11	scholink	scholink	PROPN
asir-55155	44	12	inc	inc	PROPN
asir-55155	44	13	.	.	PROPN
asir-55155	44	14	analysis	analysis	NOUN
asir-55155	44	15	of	of	ADP
asir-55155	44	16	chinese	chinese	ADJ
asir-55155	44	17	technology	technology	NOUN
asir-55155	44	18	firms	firm	NOUN
asir-55155	44	19	.	.	PUNCT
asir-55155	45	1	given	give	VERB
asir-55155	45	2	china	china	PROPN
asir-55155	45	3	’s	’s	PART
asir-55155	45	4	pivotal	pivotal	ADJ
asir-55155	45	5	role	role	NOUN
asir-55155	45	6	in	in	ADP
asir-55155	45	7	the	the	DET
asir-55155	45	8	global	global	ADJ
asir-55155	45	9	tech	tech	NOUN
asir-55155	45	10	market	market	NOUN
asir-55155	45	11	,	,	PUNCT
asir-55155	45	12	this	this	DET
asir-55155	45	13	study	study	NOUN
asir-55155	45	14	provides	provide	VERB
asir-55155	45	15	valuable	valuable	ADJ
asir-55155	45	16	insights	insight	NOUN
asir-55155	45	17	.	.	PUNCT
asir-55155	46	1	moreover	moreover	ADV
asir-55155	46	2	,	,	PUNCT
asir-55155	46	3	by	by	ADP
asir-55155	46	4	using	use	VERB
asir-55155	46	5	the	the	DET
asir-55155	46	6	latest	late	ADJ
asir-55155	46	7	panel	panel	NOUN
asir-55155	46	8	data	datum	NOUN
asir-55155	46	9	analysis	analysis	NOUN
asir-55155	46	10	techniques	technique	NOUN
asir-55155	46	11	,	,	PUNCT
asir-55155	46	12	this	this	DET
asir-55155	46	13	study	study	NOUN
asir-55155	46	14	offers	offer	VERB
asir-55155	46	15	a	a	DET
asir-55155	46	16	comprehensive	comprehensive	ADJ
asir-55155	46	17	examination	examination	NOUN
asir-55155	46	18	of	of	ADP
asir-55155	46	19	the	the	DET
asir-55155	46	20	long	long	ADJ
asir-55155	46	21	-	-	PUNCT
asir-55155	46	22	term	term	NOUN
asir-55155	46	23	impact	impact	NOUN
asir-55155	46	24	of	of	ADP
asir-55155	46	25	esg	esg	NOUN
asir-55155	46	26	performance	performance	NOUN
asir-55155	46	27	on	on	ADP
asir-55155	46	28	financial	financial	ADJ
asir-55155	46	29	outcomes	outcome	NOUN
asir-55155	46	30	in	in	ADP
asir-55155	46	31	the	the	DET
asir-55155	46	32	high	high	ADJ
asir-55155	46	33	-	-	PUNCT
asir-55155	46	34	tech	tech	NOUN
asir-55155	46	35	sector	sector	NOUN
asir-55155	46	36	.	.	PUNCT
asir-55155	47	1	3	3	X
asir-55155	47	2	.	.	X
asir-55155	47	3	research	research	NOUN
asir-55155	47	4	design	design	NOUN
asir-55155	47	5	and	and	CCONJ
asir-55155	47	6	data	datum	NOUN
asir-55155	47	7	sources	source	NOUN
asir-55155	47	8	3.1	3.1	NUM
asir-55155	47	9	research	research	NOUN
asir-55155	47	10	subjects	subject	NOUN
asir-55155	47	11	and	and	CCONJ
asir-55155	47	12	sample	sample	NOUN
asir-55155	47	13	selection	selection	NOUN
asir-55155	47	14	this	this	DET
asir-55155	47	15	study	study	NOUN
asir-55155	47	16	focuses	focus	VERB
asir-55155	47	17	on	on	ADP
asir-55155	47	18	leading	lead	VERB
asir-55155	47	19	companies	company	NOUN
asir-55155	47	20	in	in	ADP
asir-55155	47	21	china	china	PROPN
asir-55155	47	22	's	's	PART
asir-55155	47	23	high	high	ADJ
asir-55155	47	24	-	-	PUNCT
asir-55155	47	25	tech	tech	NOUN
asir-55155	47	26	and	and	CCONJ
asir-55155	47	27	internet	internet	NOUN
asir-55155	47	28	sectors	sector	NOUN
asir-55155	47	29	,	,	PUNCT
asir-55155	47	30	including	include	VERB
asir-55155	47	31	but	but	CCONJ
asir-55155	47	32	not	not	PART
asir-55155	47	33	limited	limit	VERB
asir-55155	47	34	to	to	ADP
asir-55155	47	35	alibaba	alibaba	PROPN
asir-55155	47	36	,	,	PUNCT
asir-55155	47	37	tencent	tencent	NOUN
asir-55155	47	38	,	,	PUNCT
asir-55155	47	39	baidu	baidu	NOUN
asir-55155	47	40	,	,	PUNCT
asir-55155	47	41	jd.com	jd.com	PROPN
asir-55155	47	42	,	,	PUNCT
asir-55155	47	43	and	and	CCONJ
asir-55155	47	44	huawei	huawei	PROPN
asir-55155	47	45	.	.	PUNCT
asir-55155	48	1	these	these	DET
asir-55155	48	2	companies	company	NOUN
asir-55155	48	3	have	have	VERB
asir-55155	48	4	significant	significant	ADJ
asir-55155	48	5	global	global	ADJ
asir-55155	48	6	market	market	NOUN
asir-55155	48	7	influence	influence	NOUN
asir-55155	48	8	and	and	CCONJ
asir-55155	48	9	publicly	publicly	ADV
asir-55155	48	10	available	available	ADJ
asir-55155	48	11	data	datum	NOUN
asir-55155	48	12	on	on	ADP
asir-55155	48	13	their	their	PRON
asir-55155	48	14	sustainability	sustainability	NOUN
asir-55155	48	15	and	and	CCONJ
asir-55155	48	16	esg	esg	NOUN
asir-55155	48	17	strategies	strategy	NOUN
asir-55155	48	18	.	.	PUNCT
asir-55155	49	1	3.2	3.2	NUM
asir-55155	49	2	data	datum	NOUN
asir-55155	49	3	sources	source	NOUN
asir-55155	49	4	and	and	CCONJ
asir-55155	49	5	variable	variable	ADJ
asir-55155	49	6	definitions	definition	NOUN
asir-55155	49	7	the	the	DET
asir-55155	49	8	data	datum	NOUN
asir-55155	49	9	primarily	primarily	ADV
asir-55155	49	10	comes	come	VERB
asir-55155	49	11	from	from	ADP
asir-55155	49	12	the	the	DET
asir-55155	49	13	following	follow	VERB
asir-55155	49	14	public	public	ADJ
asir-55155	49	15	platforms	platform	NOUN
asir-55155	49	16	:	:	PUNCT
asir-55155	49	17	corporate	corporate	ADJ
asir-55155	49	18	financial	financial	ADJ
asir-55155	49	19	data	datum	NOUN
asir-55155	49	20	:	:	PUNCT
asir-55155	49	21	financial	financial	ADJ
asir-55155	49	22	data	datum	NOUN
asir-55155	49	23	,	,	PUNCT
asir-55155	49	24	including	include	VERB
asir-55155	49	25	return	return	NOUN
asir-55155	49	26	on	on	ADP
asir-55155	49	27	assets	asset	NOUN
asir-55155	49	28	(	(	PUNCT
asir-55155	49	29	roa	roa	NOUN
asir-55155	49	30	)	)	PUNCT
asir-55155	49	31	,	,	PUNCT
asir-55155	49	32	net	net	ADJ
asir-55155	49	33	profit	profit	NOUN
asir-55155	49	34	margin	margin	NOUN
asir-55155	49	35	(	(	PUNCT
asir-55155	49	36	npm	npm	PROPN
asir-55155	49	37	)	)	PUNCT
asir-55155	49	38	,	,	PUNCT
asir-55155	49	39	and	and	CCONJ
asir-55155	49	40	market	market	NOUN
asir-55155	49	41	capitalization	capitalization	NOUN
asir-55155	49	42	,	,	PUNCT
asir-55155	49	43	will	will	AUX
asir-55155	49	44	be	be	AUX
asir-55155	49	45	obtained	obtain	VERB
asir-55155	49	46	from	from	ADP
asir-55155	49	47	the	the	DET
asir-55155	49	48	wind	wind	NOUN
asir-55155	49	49	and	and	CCONJ
asir-55155	49	50	choice	choice	NOUN
asir-55155	49	51	databases	database	NOUN
asir-55155	49	52	.	.	PUNCT
asir-55155	50	1	esg	esg	NOUN
asir-55155	50	2	scores	score	NOUN
asir-55155	50	3	:	:	PUNCT
asir-55155	50	4	esg	esg	NOUN
asir-55155	50	5	ratings	rating	NOUN
asir-55155	50	6	for	for	ADP
asir-55155	50	7	each	each	DET
asir-55155	50	8	company	company	NOUN
asir-55155	50	9	,	,	PUNCT
asir-55155	50	10	particularly	particularly	ADV
asir-55155	50	11	individual	individual	ADJ
asir-55155	50	12	scores	score	NOUN
asir-55155	50	13	for	for	ADP
asir-55155	50	14	the	the	DET
asir-55155	50	15	three	three	NUM
asir-55155	50	16	key	key	ADJ
asir-55155	50	17	dimensions	dimension	NOUN
asir-55155	50	18	(	(	PUNCT
asir-55155	50	19	environmental	environmental	ADJ
asir-55155	50	20	,	,	PUNCT
asir-55155	50	21	social	social	ADJ
asir-55155	50	22	,	,	PUNCT
asir-55155	50	23	governance	governance	NOUN
asir-55155	50	24	)	)	PUNCT
asir-55155	50	25	,	,	PUNCT
asir-55155	50	26	will	will	AUX
asir-55155	50	27	be	be	AUX
asir-55155	50	28	sourced	source	VERB
asir-55155	50	29	from	from	ADP
asir-55155	50	30	wind	wind	NOUN
asir-55155	50	31	and	and	CCONJ
asir-55155	50	32	csmar	csmar	PROPN
asir-55155	50	33	databases	database	NOUN
asir-55155	50	34	.	.	PUNCT
asir-55155	51	1	key	key	ADJ
asir-55155	51	2	variable	variable	ADJ
asir-55155	51	3	definitions	definition	NOUN
asir-55155	51	4	are	be	AUX
asir-55155	51	5	as	as	SCONJ
asir-55155	51	6	follows	follow	VERB
asir-55155	51	7	:	:	PUNCT
asir-55155	51	8	dependent	dependent	ADJ
asir-55155	51	9	variable	variable	NOUN
asir-55155	51	10	:	:	PUNCT
asir-55155	51	11	corporate	corporate	ADJ
asir-55155	51	12	financial	financial	ADJ
asir-55155	51	13	performance	performance	NOUN
asir-55155	51	14	,	,	PUNCT
asir-55155	51	15	primarily	primarily	ADV
asir-55155	51	16	measured	measure	VERB
asir-55155	51	17	by	by	ADP
asir-55155	51	18	return	return	NOUN
asir-55155	51	19	on	on	ADP
asir-55155	51	20	assets	asset	NOUN
asir-55155	51	21	(	(	PUNCT
asir-55155	51	22	roa	roa	NOUN
asir-55155	51	23	)	)	PUNCT
asir-55155	51	24	and	and	CCONJ
asir-55155	51	25	net	net	ADJ
asir-55155	51	26	profit	profit	NOUN
asir-55155	51	27	margin	margin	NOUN
asir-55155	51	28	(	(	PUNCT
asir-55155	51	29	npm	npm	PROPN
asir-55155	51	30	)	)	PUNCT
asir-55155	51	31	.	.	PUNCT
asir-55155	52	1	independent	independent	ADJ
asir-55155	52	2	variable	variable	NOUN
asir-55155	52	3	:	:	PUNCT
asir-55155	52	4	overall	overall	ADJ
asir-55155	52	5	esg	esg	PROPN
asir-55155	52	6	score	score	NOUN
asir-55155	52	7	for	for	ADP
asir-55155	52	8	the	the	DET
asir-55155	52	9	company	company	NOUN
asir-55155	52	10	,	,	PUNCT
asir-55155	52	11	as	as	ADV
asir-55155	52	12	well	well	ADV
asir-55155	52	13	as	as	ADP
asir-55155	52	14	the	the	DET
asir-55155	52	15	individual	individual	ADJ
asir-55155	52	16	scores	score	NOUN
asir-55155	52	17	for	for	ADP
asir-55155	52	18	the	the	DET
asir-55155	52	19	environmental	environmental	ADJ
asir-55155	52	20	(	(	PUNCT
asir-55155	52	21	e	e	NOUN
asir-55155	52	22	)	)	PUNCT
asir-55155	52	23	,	,	PUNCT
asir-55155	52	24	social	social	ADJ
asir-55155	52	25	(	(	PUNCT
asir-55155	52	26	s	s	NOUN
asir-55155	52	27	)	)	PUNCT
asir-55155	52	28	,	,	PUNCT
asir-55155	52	29	and	and	CCONJ
asir-55155	52	30	governance	governance	NOUN
asir-55155	52	31	(	(	PUNCT
asir-55155	52	32	g	g	NOUN
asir-55155	52	33	)	)	PUNCT
asir-55155	52	34	dimensions	dimension	NOUN
asir-55155	52	35	.	.	PUNCT
asir-55155	53	1	control	control	NOUN
asir-55155	53	2	variables	variable	NOUN
asir-55155	53	3	:	:	PUNCT
asir-55155	53	4	company	company	NOUN
asir-55155	53	5	size	size	NOUN
asir-55155	53	6	(	(	PUNCT
asir-55155	53	7	total	total	ADJ
asir-55155	53	8	assets	asset	NOUN
asir-55155	53	9	)	)	PUNCT
asir-55155	53	10	,	,	PUNCT
asir-55155	53	11	market	market	NOUN
asir-55155	53	12	share	share	NOUN
asir-55155	53	13	,	,	PUNCT
asir-55155	53	14	and	and	CCONJ
asir-55155	53	15	industry	industry	NOUN
asir-55155	53	16	competitiveness	competitiveness	NOUN
asir-55155	53	17	.	.	PUNCT
asir-55155	54	1	3.3	3.3	NUM
asir-55155	54	2	data	datum	NOUN
asir-55155	54	3	collection	collection	NOUN
asir-55155	54	4	and	and	CCONJ
asir-55155	54	5	cleaning	cleaning	NOUN
asir-55155	54	6	methods	method	NOUN
asir-55155	54	7	the	the	DET
asir-55155	54	8	data	data	NOUN
asir-55155	54	9	collection	collection	NOUN
asir-55155	54	10	process	process	NOUN
asir-55155	54	11	will	will	AUX
asir-55155	54	12	involve	involve	VERB
asir-55155	54	13	the	the	DET
asir-55155	54	14	following	follow	VERB
asir-55155	54	15	steps	step	NOUN
asir-55155	54	16	:	:	PUNCT
asir-55155	54	17	data	data	NOUN
asir-55155	54	18	collection	collection	NOUN
asir-55155	54	19	:	:	PUNCT
asir-55155	54	20	esg	esg	NOUN
asir-55155	54	21	scores	score	NOUN
asir-55155	54	22	and	and	CCONJ
asir-55155	54	23	financial	financial	ADJ
asir-55155	54	24	data	datum	NOUN
asir-55155	54	25	will	will	AUX
asir-55155	54	26	be	be	AUX
asir-55155	54	27	gathered	gather	VERB
asir-55155	54	28	from	from	ADP
asir-55155	54	29	public	public	ADJ
asir-55155	54	30	databases	database	NOUN
asir-55155	54	31	and	and	CCONJ
asir-55155	54	32	company	company	NOUN
asir-55155	54	33	annual	annual	ADJ
asir-55155	54	34	reports	report	NOUN
asir-55155	54	35	to	to	PART
asir-55155	54	36	ensure	ensure	VERB
asir-55155	54	37	accuracy	accuracy	NOUN
asir-55155	54	38	and	and	CCONJ
asir-55155	54	39	completeness	completeness	NOUN
asir-55155	54	40	.	.	PUNCT
asir-55155	55	1	data	datum	NOUN
asir-55155	55	2	cleaning	clean	VERB
asir-55155	55	3	:	:	PUNCT
asir-55155	55	4	outliers	outlier	NOUN
asir-55155	55	5	and	and	CCONJ
asir-55155	55	6	missing	miss	VERB
asir-55155	55	7	values	value	NOUN
asir-55155	55	8	will	will	AUX
asir-55155	55	9	be	be	AUX
asir-55155	55	10	removed	remove	VERB
asir-55155	55	11	to	to	PART
asir-55155	55	12	ensure	ensure	VERB
asir-55155	55	13	the	the	DET
asir-55155	55	14	validity	validity	NOUN
asir-55155	55	15	of	of	ADP
asir-55155	55	16	the	the	DET
asir-55155	55	17	sample	sample	NOUN
asir-55155	55	18	.	.	PUNCT
asir-55155	56	1	financial	financial	ADJ
asir-55155	56	2	data	datum	NOUN
asir-55155	56	3	from	from	ADP
asir-55155	56	4	different	different	ADJ
asir-55155	56	5	time	time	NOUN
asir-55155	56	6	periods	period	NOUN
asir-55155	56	7	will	will	AUX
asir-55155	56	8	be	be	AUX
asir-55155	56	9	smoothed	smooth	VERB
asir-55155	56	10	to	to	PART
asir-55155	56	11	minimize	minimize	VERB
asir-55155	56	12	the	the	DET
asir-55155	56	13	impact	impact	NOUN
asir-55155	56	14	of	of	ADP
asir-55155	56	15	short	short	ADJ
asir-55155	56	16	-	-	PUNCT
asir-55155	56	17	term	term	NOUN
asir-55155	56	18	fluctuations	fluctuation	NOUN
asir-55155	56	19	.	.	PUNCT
asir-55155	57	1	3.4	3.4	NUM
asir-55155	57	2	research	research	NOUN
asir-55155	57	3	hypotheses	hypothesis	NOUN
asir-55155	57	4	and	and	CCONJ
asir-55155	57	5	modeling	model	VERB
asir-55155	57	6	approach	approach	NOUN
asir-55155	57	7	based	base	VERB
asir-55155	57	8	on	on	ADP
asir-55155	57	9	the	the	DET
asir-55155	57	10	literature	literature	NOUN
asir-55155	57	11	review	review	PROPN
asir-55155	57	12	and	and	CCONJ
asir-55155	57	13	theoretical	theoretical	ADJ
asir-55155	57	14	framework	framework	NOUN
asir-55155	57	15	,	,	PUNCT
asir-55155	57	16	this	this	DET
asir-55155	57	17	study	study	NOUN
asir-55155	57	18	proposes	propose	VERB
asir-55155	57	19	the	the	DET
asir-55155	57	20	following	follow	VERB
asir-55155	57	21	hypotheses	hypothesis	NOUN
asir-55155	57	22	:	:	PUNCT
asir-55155	57	23	h1	h1	NOUN
asir-55155	57	24	:	:	PUNCT
asir-55155	57	25	higher	high	ADJ
asir-55155	57	26	esg	esg	PROPN
asir-55155	57	27	scores	score	NOUN
asir-55155	57	28	have	have	VERB
asir-55155	57	29	a	a	DET
asir-55155	57	30	positive	positive	ADJ
asir-55155	57	31	impact	impact	NOUN
asir-55155	57	32	on	on	ADP
asir-55155	57	33	long	long	ADJ
asir-55155	57	34	-	-	PUNCT
asir-55155	57	35	term	term	NOUN
asir-55155	57	36	corporate	corporate	ADJ
asir-55155	57	37	financial	financial	ADJ
asir-55155	57	38	performance	performance	NOUN
asir-55155	57	39	.	.	PUNCT
asir-55155	58	1	h2	h2	NOUN
asir-55155	58	2	:	:	PUNCT
asir-55155	58	3	the	the	DET
asir-55155	58	4	governance	governance	NOUN
asir-55155	58	5	(	(	PUNCT
asir-55155	58	6	g	g	NOUN
asir-55155	58	7	)	)	PUNCT
asir-55155	58	8	dimension	dimension	NOUN
asir-55155	58	9	of	of	ADP
asir-55155	58	10	esg	esg	PROPN
asir-55155	58	11	has	have	VERB
asir-55155	58	12	a	a	DET
asir-55155	58	13	more	more	ADV
asir-55155	58	14	significant	significant	ADJ
asir-55155	58	15	impact	impact	NOUN
asir-55155	58	16	on	on	ADP
asir-55155	58	17	corporate	corporate	ADJ
asir-55155	58	18	financial	financial	ADJ
asir-55155	58	19	performance	performance	NOUN
asir-55155	58	20	,	,	PUNCT
asir-55155	58	21	especially	especially	ADV
asir-55155	58	22	in	in	ADP
asir-55155	58	23	the	the	DET
asir-55155	58	24	high	high	ADJ
asir-55155	58	25	-	-	PUNCT
asir-55155	58	26	tech	tech	NOUN
asir-55155	58	27	industry	industry	NOUN
asir-55155	58	28	.	.	PUNCT
asir-55155	59	1	this	this	DET
asir-55155	59	2	study	study	NOUN
asir-55155	59	3	employs	employ	VERB
asir-55155	59	4	multi	multi	ADJ
asir-55155	59	5	-	-	ADJ
asir-55155	59	6	country	country	ADJ
asir-55155	59	7	panel	panel	NOUN
asir-55155	59	8	data	datum	NOUN
asir-55155	59	9	models	model	NOUN
asir-55155	59	10	,	,	PUNCT
asir-55155	59	11	specifically	specifically	ADV
asir-55155	59	12	fixed	fix	VERB
asir-55155	59	13	effects	effect	NOUN
asir-55155	59	14	model	model	NOUN
asir-55155	59	15	(	(	PUNCT
asir-55155	59	16	fem	fem	NOUN
asir-55155	59	17	)	)	PUNCT
asir-55155	59	18	and	and	CCONJ
asir-55155	59	19	random	random	ADJ
asir-55155	59	20	effects	effect	NOUN
asir-55155	59	21	model	model	NOUN
asir-55155	59	22	(	(	PUNCT
asir-55155	59	23	rem	rem	NOUN
asir-55155	59	24	)	)	PUNCT
asir-55155	59	25	,	,	PUNCT
asir-55155	59	26	to	to	PART
asir-55155	59	27	control	control	VERB
asir-55155	59	28	for	for	ADP
asir-55155	59	29	heterogeneity	heterogeneity	NOUN
asir-55155	59	30	across	across	ADP
asir-55155	59	31	companies	company	NOUN
asir-55155	59	32	and	and	CCONJ
asir-55155	59	33	ensure	ensure	VERB
asir-55155	59	34	the	the	DET
asir-55155	59	35	robustness	robustness	NOUN
asir-55155	59	36	of	of	ADP
asir-55155	59	37	the	the	DET
asir-55155	59	38	results	result	NOUN
asir-55155	59	39	.	.	PUNCT
asir-55155	60	1	www.scholink.org/ojs/index.php/asir	www.scholink.org/ojs/index.php/asir	NOUN
asir-55155	60	2	applied	apply	VERB
asir-55155	60	3	science	science	NOUN
asir-55155	60	4	and	and	CCONJ
asir-55155	60	5	innovative	innovative	ADJ
asir-55155	60	6	research	research	NOUN
asir-55155	60	7	vol	vol	NOUN
asir-55155	60	8	.	.	PROPN
asir-55155	61	1	8	8	NUM
asir-55155	61	2	,	,	PUNCT
asir-55155	61	3	no	no	INTJ
asir-55155	61	4	.	.	NOUN
asir-55155	61	5	4	4	NUM
asir-55155	61	6	,	,	PUNCT
asir-55155	61	7	2024	2024	NUM
asir-55155	61	8	52	52	NUM
asir-55155	61	9	published	publish	VERB
asir-55155	61	10	by	by	ADP
asir-55155	61	11	scholink	scholink	PROPN
asir-55155	61	12	inc	inc	PROPN
asir-55155	61	13	.	.	PROPN
asir-55155	61	14	4	4	X
asir-55155	61	15	.	.	X
asir-55155	61	16	design	design	NOUN
asir-55155	61	17	of	of	ADP
asir-55155	61	18	econometric	econometric	ADJ
asir-55155	61	19	models	model	NOUN
asir-55155	61	20	to	to	PART
asir-55155	61	21	test	test	VERB
asir-55155	61	22	the	the	DET
asir-55155	61	23	hypotheses	hypothesis	NOUN
asir-55155	61	24	,	,	PUNCT
asir-55155	61	25	this	this	DET
asir-55155	61	26	study	study	NOUN
asir-55155	61	27	applies	apply	VERB
asir-55155	61	28	panel	panel	NOUN
asir-55155	61	29	data	datum	NOUN
asir-55155	61	30	regression	regression	NOUN
asir-55155	61	31	models	model	NOUN
asir-55155	61	32	,	,	PUNCT
asir-55155	61	33	estimating	estimate	VERB
asir-55155	61	34	results	result	NOUN
asir-55155	61	35	using	use	VERB
asir-55155	61	36	both	both	CCONJ
asir-55155	61	37	the	the	DET
asir-55155	61	38	fixed	fix	VERB
asir-55155	61	39	effects	effect	NOUN
asir-55155	61	40	model	model	NOUN
asir-55155	61	41	(	(	PUNCT
asir-55155	61	42	fem	fem	NOUN
asir-55155	61	43	)	)	PUNCT
asir-55155	61	44	and	and	CCONJ
asir-55155	61	45	random	random	ADJ
asir-55155	61	46	effects	effect	NOUN
asir-55155	61	47	model	model	NOUN
asir-55155	61	48	(	(	PUNCT
asir-55155	61	49	rem	rem	NOUN
asir-55155	61	50	)	)	PUNCT
asir-55155	61	51	.	.	PUNCT
asir-55155	62	1	the	the	DET
asir-55155	62	2	choice	choice	NOUN
asir-55155	62	3	between	between	ADP
asir-55155	62	4	these	these	DET
asir-55155	62	5	models	model	NOUN
asir-55155	62	6	is	be	AUX
asir-55155	62	7	based	base	VERB
asir-55155	62	8	on	on	ADP
asir-55155	62	9	the	the	DET
asir-55155	62	10	heterogeneity	heterogeneity	NOUN
asir-55155	62	11	of	of	ADP
asir-55155	62	12	the	the	DET
asir-55155	62	13	sample	sample	NOUN
asir-55155	62	14	firms	firm	NOUN
asir-55155	62	15	(	(	PUNCT
asir-55155	62	16	e.g.	e.g.	ADV
asir-55155	62	17	,	,	PUNCT
asir-55155	62	18	company	company	NOUN
asir-55155	62	19	size	size	NOUN
asir-55155	62	20	,	,	PUNCT
asir-55155	62	21	industry	industry	NOUN
asir-55155	62	22	position	position	NOUN
asir-55155	62	23	)	)	PUNCT
asir-55155	62	24	and	and	CCONJ
asir-55155	62	25	the	the	DET
asir-55155	62	26	varying	vary	VERB
asir-55155	62	27	effects	effect	NOUN
asir-55155	62	28	of	of	ADP
asir-55155	62	29	esg	esg	PROPN
asir-55155	62	30	scores	score	NOUN
asir-55155	62	31	on	on	ADP
asir-55155	62	32	financial	financial	ADJ
asir-55155	62	33	performance	performance	NOUN
asir-55155	62	34	over	over	ADP
asir-55155	62	35	time	time	NOUN
asir-55155	62	36	.	.	PUNCT
asir-55155	63	1	4.1	4.1	NUM
asir-55155	63	2	advantages	advantage	NOUN
asir-55155	63	3	of	of	ADP
asir-55155	63	4	panel	panel	NOUN
asir-55155	63	5	data	datum	NOUN
asir-55155	63	6	panel	panel	NOUN
asir-55155	63	7	data	datum	NOUN
asir-55155	63	8	are	be	AUX
asir-55155	63	9	multi	multi	ADJ
asir-55155	63	10	-	-	ADJ
asir-55155	63	11	dimensional	dimensional	ADJ
asir-55155	63	12	,	,	PUNCT
asir-55155	63	13	incorporating	incorporate	VERB
asir-55155	63	14	both	both	DET
asir-55155	63	15	cross	cross	ADJ
asir-55155	63	16	-	-	ADJ
asir-55155	63	17	sectional	sectional	ADJ
asir-55155	63	18	and	and	CCONJ
asir-55155	63	19	time	time	NOUN
asir-55155	63	20	series	series	PROPN
asir-55155	63	21	information	information	NOUN
asir-55155	63	22	.	.	PUNCT
asir-55155	64	1	in	in	ADP
asir-55155	64	2	this	this	DET
asir-55155	64	3	study	study	NOUN
asir-55155	64	4	,	,	PUNCT
asir-55155	64	5	panel	panel	NOUN
asir-55155	64	6	data	datum	NOUN
asir-55155	64	7	allow	allow	VERB
asir-55155	64	8	for	for	ADP
asir-55155	64	9	capturing	capture	VERB
asir-55155	64	10	esg	esg	NOUN
asir-55155	64	11	performance	performance	NOUN
asir-55155	64	12	and	and	CCONJ
asir-55155	64	13	financial	financial	ADJ
asir-55155	64	14	data	datum	NOUN
asir-55155	64	15	of	of	ADP
asir-55155	64	16	multiple	multiple	ADJ
asir-55155	64	17	companies	company	NOUN
asir-55155	64	18	over	over	ADP
asir-55155	64	19	multiple	multiple	ADJ
asir-55155	64	20	periods	period	NOUN
asir-55155	64	21	,	,	PUNCT
asir-55155	64	22	controlling	control	VERB
asir-55155	64	23	for	for	ADP
asir-55155	64	24	firm	firm	ADJ
asir-55155	64	25	-	-	PUNCT
asir-55155	64	26	specific	specific	ADJ
asir-55155	64	27	heterogeneity	heterogeneity	NOUN
asir-55155	64	28	,	,	PUNCT
asir-55155	64	29	and	and	CCONJ
asir-55155	64	30	improving	improve	VERB
asir-55155	64	31	the	the	DET
asir-55155	64	32	precision	precision	NOUN
asir-55155	64	33	of	of	ADP
asir-55155	64	34	the	the	DET
asir-55155	64	35	estimates	estimate	NOUN
asir-55155	64	36	.	.	PUNCT
asir-55155	65	1	the	the	DET
asir-55155	65	2	main	main	ADJ
asir-55155	65	3	advantages	advantage	NOUN
asir-55155	65	4	of	of	ADP
asir-55155	65	5	panel	panel	NOUN
asir-55155	65	6	data	datum	NOUN
asir-55155	65	7	include	include	VERB
asir-55155	65	8	:	:	PUNCT
asir-55155	65	9	control	control	NOUN
asir-55155	65	10	of	of	ADP
asir-55155	65	11	unobserved	unobserved	ADJ
asir-55155	65	12	heterogeneity	heterogeneity	NOUN
asir-55155	65	13	:	:	PUNCT
asir-55155	65	14	panel	panel	NOUN
asir-55155	65	15	data	datum	NOUN
asir-55155	65	16	effectively	effectively	ADV
asir-55155	65	17	control	control	VERB
asir-55155	65	18	for	for	ADP
asir-55155	65	19	unobserved	unobserved	ADJ
asir-55155	65	20	differences	difference	NOUN
asir-55155	65	21	across	across	ADP
asir-55155	65	22	firms	firm	NOUN
asir-55155	65	23	,	,	PUNCT
asir-55155	65	24	such	such	ADJ
asir-55155	65	25	as	as	ADP
asir-55155	65	26	corporate	corporate	ADJ
asir-55155	65	27	culture	culture	NOUN
asir-55155	65	28	and	and	CCONJ
asir-55155	65	29	management	management	NOUN
asir-55155	65	30	style	style	NOUN
asir-55155	65	31	.	.	PUNCT
asir-55155	66	1	improved	improve	VERB
asir-55155	66	2	estimation	estimation	NOUN
asir-55155	66	3	efficiency	efficiency	NOUN
asir-55155	66	4	:	:	PUNCT
asir-55155	66	5	panel	panel	NOUN
asir-55155	66	6	data	datum	NOUN
asir-55155	66	7	utilize	utilize	VERB
asir-55155	66	8	both	both	DET
asir-55155	66	9	cross	cross	ADJ
asir-55155	66	10	-	-	ADJ
asir-55155	66	11	sectional	sectional	ADJ
asir-55155	66	12	and	and	CCONJ
asir-55155	66	13	time	time	NOUN
asir-55155	66	14	-	-	PUNCT
asir-55155	66	15	series	series	NOUN
asir-55155	66	16	information	information	NOUN
asir-55155	66	17	,	,	PUNCT
asir-55155	66	18	leading	lead	VERB
asir-55155	66	19	to	to	ADP
asir-55155	66	20	more	more	ADV
asir-55155	66	21	efficient	efficient	ADJ
asir-55155	66	22	and	and	CCONJ
asir-55155	66	23	robust	robust	ADJ
asir-55155	66	24	model	model	NOUN
asir-55155	66	25	estimation	estimation	NOUN
asir-55155	66	26	.	.	PUNCT
asir-55155	67	1	4.2	4.2	NUM
asir-55155	67	2	model	model	NOUN
asir-55155	67	3	selection	selection	NOUN
asir-55155	67	4	:	:	PUNCT
asir-55155	67	5	fixed	fix	VERB
asir-55155	67	6	effects	effect	NOUN
asir-55155	67	7	model	model	NOUN
asir-55155	67	8	(	(	PUNCT
asir-55155	67	9	fem	fem	PROPN
asir-55155	67	10	)	)	PUNCT
asir-55155	67	11	vs.	vs.	ADP
asir-55155	67	12	random	random	ADJ
asir-55155	67	13	effects	effect	NOUN
asir-55155	67	14	model	model	NOUN
asir-55155	67	15	(	(	PUNCT
asir-55155	67	16	rem	rem	PROPN
asir-55155	67	17	)	)	PUNCT
asir-55155	67	18	to	to	PART
asir-55155	67	19	ensure	ensure	VERB
asir-55155	67	20	the	the	DET
asir-55155	67	21	accuracy	accuracy	NOUN
asir-55155	67	22	of	of	ADP
asir-55155	67	23	the	the	DET
asir-55155	67	24	regression	regression	NOUN
asir-55155	67	25	results	result	NOUN
asir-55155	67	26	,	,	PUNCT
asir-55155	67	27	this	this	DET
asir-55155	67	28	study	study	NOUN
asir-55155	67	29	employs	employ	VERB
asir-55155	67	30	two	two	NUM
asir-55155	67	31	common	common	ADJ
asir-55155	67	32	panel	panel	NOUN
asir-55155	67	33	data	datum	NOUN
asir-55155	67	34	models	model	NOUN
asir-55155	67	35	:	:	PUNCT
asir-55155	67	36	fixed	fix	VERB
asir-55155	67	37	effects	effect	NOUN
asir-55155	67	38	model	model	NOUN
asir-55155	67	39	(	(	PUNCT
asir-55155	67	40	fem	fem	NOUN
asir-55155	67	41	):	):	PUNCT
asir-55155	67	42	assumes	assume	VERB
asir-55155	67	43	that	that	SCONJ
asir-55155	67	44	characteristics	characteristic	NOUN
asir-55155	67	45	specific	specific	ADJ
asir-55155	67	46	to	to	ADP
asir-55155	67	47	each	each	DET
asir-55155	67	48	firm	firm	NOUN
asir-55155	67	49	(	(	PUNCT
asir-55155	67	50	e.g.	e.g.	ADV
asir-55155	67	51	,	,	PUNCT
asir-55155	67	52	company	company	NOUN
asir-55155	67	53	size	size	NOUN
asir-55155	67	54	,	,	PUNCT
asir-55155	67	55	market	market	NOUN
asir-55155	67	56	position	position	NOUN
asir-55155	67	57	)	)	PUNCT
asir-55155	67	58	are	be	AUX
asir-55155	67	59	fixed	fix	VERB
asir-55155	67	60	and	and	CCONJ
asir-55155	67	61	do	do	AUX
asir-55155	67	62	not	not	PART
asir-55155	67	63	change	change	VERB
asir-55155	67	64	over	over	ADP
asir-55155	67	65	time	time	NOUN
asir-55155	67	66	.	.	PUNCT
asir-55155	68	1	fem	fem	PROPN
asir-55155	68	2	controls	control	NOUN
asir-55155	68	3	for	for	ADP
asir-55155	68	4	firm	firm	ADJ
asir-55155	68	5	-	-	PUNCT
asir-55155	68	6	specific	specific	ADJ
asir-55155	68	7	unobserved	unobserved	ADJ
asir-55155	68	8	variables	variable	NOUN
asir-55155	68	9	,	,	PUNCT
asir-55155	68	10	such	such	ADJ
asir-55155	68	11	as	as	ADP
asir-55155	68	12	corporate	corporate	ADJ
asir-55155	68	13	culture	culture	NOUN
asir-55155	68	14	or	or	CCONJ
asir-55155	68	15	management	management	NOUN
asir-55155	68	16	level	level	NOUN
asir-55155	68	17	.	.	PUNCT
asir-55155	69	1	random	random	ADJ
asir-55155	69	2	effects	effect	NOUN
asir-55155	69	3	model	model	NOUN
asir-55155	69	4	(	(	PUNCT
asir-55155	69	5	rem	rem	NOUN
asir-55155	69	6	):	):	PUNCT
asir-55155	69	7	assumes	assume	VERB
asir-55155	69	8	that	that	SCONJ
asir-55155	69	9	differences	difference	NOUN
asir-55155	69	10	between	between	ADP
asir-55155	69	11	firms	firm	NOUN
asir-55155	69	12	are	be	AUX
asir-55155	69	13	random	random	ADJ
asir-55155	69	14	and	and	CCONJ
asir-55155	69	15	not	not	PART
asir-55155	69	16	correlated	correlate	VERB
asir-55155	69	17	with	with	ADP
asir-55155	69	18	other	other	ADJ
asir-55155	69	19	explanatory	explanatory	ADJ
asir-55155	69	20	variables	variable	NOUN
asir-55155	69	21	in	in	ADP
asir-55155	69	22	the	the	DET
asir-55155	69	23	regression	regression	NOUN
asir-55155	69	24	model	model	NOUN
asir-55155	69	25	.	.	PUNCT
asir-55155	70	1	rem	rem	PRON
asir-55155	70	2	is	be	AUX
asir-55155	70	3	suitable	suitable	ADJ
asir-55155	70	4	when	when	SCONJ
asir-55155	70	5	the	the	DET
asir-55155	70	6	differences	difference	NOUN
asir-55155	70	7	between	between	ADP
asir-55155	70	8	firms	firm	NOUN
asir-55155	70	9	are	be	AUX
asir-55155	70	10	substantial	substantial	ADJ
asir-55155	70	11	but	but	CCONJ
asir-55155	70	12	do	do	AUX
asir-55155	70	13	not	not	PART
asir-55155	70	14	significantly	significantly	ADV
asir-55155	70	15	affect	affect	VERB
asir-55155	70	16	the	the	DET
asir-55155	70	17	dependent	dependent	ADJ
asir-55155	70	18	variable	variable	NOUN
asir-55155	70	19	.	.	PUNCT
asir-55155	71	1	to	to	PART
asir-55155	71	2	determine	determine	VERB
asir-55155	71	3	whether	whether	SCONJ
asir-55155	71	4	fem	fem	NOUN
asir-55155	71	5	or	or	CCONJ
asir-55155	71	6	rem	rem	X
asir-55155	71	7	is	be	AUX
asir-55155	71	8	more	more	ADV
asir-55155	71	9	appropriate	appropriate	ADJ
asir-55155	71	10	,	,	PUNCT
asir-55155	71	11	this	this	DET
asir-55155	71	12	study	study	NOUN
asir-55155	71	13	conducts	conduct	VERB
asir-55155	71	14	the	the	DET
asir-55155	71	15	hausman	hausman	ADJ
asir-55155	71	16	test	test	NOUN
asir-55155	71	17	.	.	PUNCT
asir-55155	72	1	4.3	4.3	NUM
asir-55155	72	2	model	model	NOUN
asir-55155	72	3	specification	specification	NOUN
asir-55155	72	4	the	the	DET
asir-55155	72	5	basic	basic	ADJ
asir-55155	72	6	form	form	NOUN
asir-55155	72	7	of	of	ADP
asir-55155	72	8	the	the	DET
asir-55155	72	9	model	model	NOUN
asir-55155	72	10	is	be	AUX
asir-55155	72	11	as	as	SCONJ
asir-55155	72	12	follows	follow	VERB
asir-55155	72	13	:	:	PUNCT
asir-55155	72	14	roait	roait	ADJ
asir-55155	72	15	=	=	ADJ
asir-55155	72	16	α+β1esgit+β2eit+β3sit+β4git+β5xit+εit	α+β1esgit+β2eit+β3sit+β4git+β5xit+εit	NUM
asir-55155	72	17	npmit	npmit	NOUN
asir-55155	72	18	=	=	NOUN
asir-55155	72	19	α+β1esgit+β2eit+β3sit+β4git+β5xit+εit	α+β1esgit+β2eit+β3sit+β4git+β5xit+εit	NOUN
asir-55155	72	20	where	where	SCONJ
asir-55155	72	21	:	:	PUNCT
asir-55155	72	22	roait	roait	NOUN
asir-55155	72	23	and	and	CCONJ
asir-55155	72	24	npmit	npmit	PROPN
asir-55155	72	25	represent	represent	VERB
asir-55155	72	26	the	the	DET
asir-55155	72	27	return	return	NOUN
asir-55155	72	28	on	on	ADP
asir-55155	72	29	assets	asset	NOUN
asir-55155	72	30	and	and	CCONJ
asir-55155	72	31	net	net	ADJ
asir-55155	72	32	profit	profit	NOUN
asir-55155	72	33	margin	margin	NOUN
asir-55155	72	34	of	of	ADP
asir-55155	72	35	firm	firm	ADJ
asir-55155	72	36	i	i	PRON
asir-55155	72	37	in	in	ADP
asir-55155	72	38	year	year	PROPN
asir-55155	72	39	t	t	PROPN
asir-55155	72	40	,	,	PUNCT
asir-55155	72	41	respectively	respectively	ADV
asir-55155	72	42	,	,	PUNCT
asir-55155	72	43	serving	serve	VERB
asir-55155	72	44	as	as	ADP
asir-55155	72	45	dependent	dependent	ADJ
asir-55155	72	46	variables	variable	NOUN
asir-55155	72	47	to	to	PART
asir-55155	72	48	measure	measure	VERB
asir-55155	72	49	financial	financial	ADJ
asir-55155	72	50	performance	performance	NOUN
asir-55155	72	51	.	.	PUNCT
asir-55155	73	1	esgit	esgit	ADV
asir-55155	73	2	is	be	AUX
asir-55155	73	3	the	the	DET
asir-55155	73	4	overall	overall	ADJ
asir-55155	73	5	esg	esg	NOUN
asir-55155	73	6	score	score	NOUN
asir-55155	73	7	of	of	ADP
asir-55155	73	8	firm	firm	ADJ
asir-55155	73	9	i	i	PRON
asir-55155	73	10	in	in	ADP
asir-55155	73	11	year	year	NOUN
asir-55155	73	12	t.	t.	PROPN
asir-55155	73	13	eit	eit	PROPN
asir-55155	73	14	,	,	PUNCT
asir-55155	73	15	sit	sit	VERB
asir-55155	73	16	,	,	PUNCT
asir-55155	73	17	and	and	CCONJ
asir-55155	73	18	git	git	NOUN
asir-55155	73	19	represent	represent	VERB
asir-55155	73	20	the	the	DET
asir-55155	73	21	environmental	environmental	ADJ
asir-55155	73	22	,	,	PUNCT
asir-55155	73	23	social	social	ADJ
asir-55155	73	24	,	,	PUNCT
asir-55155	73	25	and	and	CCONJ
asir-55155	73	26	governance	governance	NOUN
asir-55155	73	27	scores	score	NOUN
asir-55155	73	28	of	of	ADP
asir-55155	73	29	firm	firm	ADJ
asir-55155	73	30	i	i	PRON
asir-55155	73	31	in	in	ADP
asir-55155	73	32	year	year	PROPN
asir-55155	73	33	t	t	PROPN
asir-55155	73	34	,	,	PUNCT
asir-55155	73	35	respectively	respectively	ADV
asir-55155	73	36	.	.	PUNCT
asir-55155	74	1	xit	xit	PROPN
asir-55155	74	2	denotes	denotes	PROPN
asir-55155	74	3	control	control	PROPN
asir-55155	74	4	variables	variable	NOUN
asir-55155	74	5	,	,	PUNCT
asir-55155	74	6	such	such	ADJ
asir-55155	74	7	as	as	ADP
asir-55155	74	8	firm	firm	ADJ
asir-55155	74	9	size	size	NOUN
asir-55155	74	10	and	and	CCONJ
asir-55155	74	11	market	market	NOUN
asir-55155	74	12	competitiveness	competitiveness	NOUN
asir-55155	74	13	.	.	PUNCT
asir-55155	75	1	α	α	PROPN
asir-55155	75	2	is	be	AUX
asir-55155	75	3	the	the	DET
asir-55155	75	4	constant	constant	ADJ
asir-55155	75	5	term	term	NOUN
asir-55155	75	6	,	,	PUNCT
asir-55155	75	7	and	and	CCONJ
asir-55155	75	8	εit	εit	NOUN
asir-55155	75	9	is	be	AUX
asir-55155	75	10	the	the	DET
asir-55155	75	11	error	error	NOUN
asir-55155	75	12	term	term	NOUN
asir-55155	75	13	.	.	PUNCT
asir-55155	76	1	www.scholink.org/ojs/index.php/asir	www.scholink.org/ojs/index.php/asir	PROPN
asir-55155	76	2	applied	apply	VERB
asir-55155	76	3	science	science	NOUN
asir-55155	76	4	and	and	CCONJ
asir-55155	76	5	innovative	innovative	ADJ
asir-55155	76	6	research	research	NOUN
asir-55155	76	7	vol	vol	NOUN
asir-55155	76	8	.	.	PROPN
asir-55155	77	1	8	8	NUM
asir-55155	77	2	,	,	PUNCT
asir-55155	77	3	no	no	INTJ
asir-55155	77	4	.	.	NOUN
asir-55155	77	5	4	4	NUM
asir-55155	77	6	,	,	PUNCT
asir-55155	77	7	2024	2024	NUM
asir-55155	77	8	53	53	NUM
asir-55155	77	9	published	publish	VERB
asir-55155	77	10	by	by	ADP
asir-55155	77	11	scholink	scholink	PROPN
asir-55155	77	12	inc	inc	PROPN
asir-55155	77	13	.	.	PROPN
asir-55155	77	14	4.4	4.4	NUM
asir-55155	77	15	control	control	NOUN
asir-55155	77	16	variables	variable	NOUN
asir-55155	77	17	to	to	PART
asir-55155	77	18	ensure	ensure	VERB
asir-55155	77	19	the	the	DET
asir-55155	77	20	robustness	robustness	NOUN
asir-55155	77	21	of	of	ADP
asir-55155	77	22	the	the	DET
asir-55155	77	23	model	model	NOUN
asir-55155	77	24	,	,	PUNCT
asir-55155	77	25	this	this	DET
asir-55155	77	26	study	study	NOUN
asir-55155	77	27	introduces	introduce	VERB
asir-55155	77	28	several	several	ADJ
asir-55155	77	29	common	common	ADJ
asir-55155	77	30	control	control	NOUN
asir-55155	77	31	variables	variable	NOUN
asir-55155	77	32	:	:	PUNCT
asir-55155	77	33	firm	firm	ADJ
asir-55155	77	34	size	size	NOUN
asir-55155	77	35	(	(	PUNCT
asir-55155	77	36	size	size	NOUN
asir-55155	77	37	):	):	PUNCT
asir-55155	77	38	measured	measure	VERB
asir-55155	77	39	by	by	ADP
asir-55155	77	40	total	total	ADJ
asir-55155	77	41	assets	asset	NOUN
asir-55155	77	42	.	.	PUNCT
asir-55155	78	1	larger	large	ADJ
asir-55155	78	2	firms	firm	NOUN
asir-55155	78	3	tend	tend	VERB
asir-55155	78	4	to	to	PART
asir-55155	78	5	have	have	VERB
asir-55155	78	6	more	more	ADJ
asir-55155	78	7	resources	resource	NOUN
asir-55155	78	8	and	and	CCONJ
asir-55155	78	9	managerial	managerial	ADJ
asir-55155	78	10	capabilities	capability	NOUN
asir-55155	78	11	,	,	PUNCT
asir-55155	78	12	which	which	PRON
asir-55155	78	13	may	may	AUX
asir-55155	78	14	lead	lead	VERB
asir-55155	78	15	to	to	ADP
asir-55155	78	16	better	well	ADJ
asir-55155	78	17	esg	esg	NOUN
asir-55155	78	18	performance	performance	NOUN
asir-55155	78	19	and	and	CCONJ
asir-55155	78	20	financial	financial	ADJ
asir-55155	78	21	outcomes	outcome	NOUN
asir-55155	78	22	.	.	PUNCT
asir-55155	79	1	market	market	NOUN
asir-55155	79	2	share	share	NOUN
asir-55155	79	3	:	:	PUNCT
asir-55155	79	4	measured	measure	VERB
asir-55155	79	5	by	by	ADP
asir-55155	79	6	the	the	DET
asir-55155	79	7	company	company	NOUN
asir-55155	79	8	’s	’s	PART
asir-55155	79	9	market	market	NOUN
asir-55155	79	10	share	share	NOUN
asir-55155	79	11	.	.	PUNCT
asir-55155	80	1	firms	firm	NOUN
asir-55155	80	2	with	with	ADP
asir-55155	80	3	higher	high	ADJ
asir-55155	80	4	market	market	NOUN
asir-55155	80	5	share	share	NOUN
asir-55155	80	6	may	may	AUX
asir-55155	80	7	have	have	VERB
asir-55155	80	8	more	more	ADJ
asir-55155	80	9	capital	capital	NOUN
asir-55155	80	10	to	to	PART
asir-55155	80	11	invest	invest	VERB
asir-55155	80	12	in	in	ADP
asir-55155	80	13	esg	esg	PROPN
asir-55155	80	14	initiatives	initiative	NOUN
asir-55155	80	15	and	and	CCONJ
asir-55155	80	16	are	be	AUX
asir-55155	80	17	likely	likely	ADJ
asir-55155	80	18	to	to	PART
asir-55155	80	19	prioritize	prioritize	VERB
asir-55155	80	20	long	long	ADJ
asir-55155	80	21	-	-	PUNCT
asir-55155	80	22	term	term	NOUN
asir-55155	80	23	financial	financial	ADJ
asir-55155	80	24	health	health	NOUN
asir-55155	80	25	.	.	PUNCT
asir-55155	81	1	industry	industry	NOUN
asir-55155	81	2	competition	competition	NOUN
asir-55155	81	3	(	(	PUNCT
asir-55155	81	4	industry	industry	NOUN
asir-55155	81	5	competition	competition	NOUN
asir-55155	81	6	):	):	PUNCT
asir-55155	81	7	measures	measure	NOUN
asir-55155	81	8	the	the	DET
asir-55155	81	9	intensity	intensity	NOUN
asir-55155	81	10	of	of	ADP
asir-55155	81	11	competition	competition	NOUN
asir-55155	81	12	within	within	ADP
asir-55155	81	13	the	the	DET
asir-55155	81	14	industry	industry	NOUN
asir-55155	81	15	.	.	PUNCT
asir-55155	82	1	in	in	ADP
asir-55155	82	2	highly	highly	ADV
asir-55155	82	3	competitive	competitive	ADJ
asir-55155	82	4	industries	industry	NOUN
asir-55155	82	5	,	,	PUNCT
asir-55155	82	6	the	the	DET
asir-55155	82	7	impact	impact	NOUN
asir-55155	82	8	of	of	ADP
asir-55155	82	9	esg	esg	PROPN
asir-55155	82	10	performance	performance	NOUN
asir-55155	82	11	on	on	ADP
asir-55155	82	12	financial	financial	ADJ
asir-55155	82	13	performance	performance	NOUN
asir-55155	82	14	may	may	AUX
asir-55155	82	15	be	be	AUX
asir-55155	82	16	more	more	ADV
asir-55155	82	17	pronounced	pronounced	ADJ
asir-55155	82	18	.	.	PUNCT
asir-55155	83	1	4.5	4.5	NUM
asir-55155	83	2	estimation	estimation	NOUN
asir-55155	83	3	methods	method	NOUN
asir-55155	83	4	descriptive	descriptive	ADJ
asir-55155	83	5	statistical	statistical	ADJ
asir-55155	83	6	analysis	analysis	NOUN
asir-55155	83	7	:	:	PUNCT
asir-55155	83	8	conduct	conduct	VERB
asir-55155	83	9	descriptive	descriptive	ADJ
asir-55155	83	10	statistical	statistical	ADJ
asir-55155	83	11	analysis	analysis	NOUN
asir-55155	83	12	for	for	ADP
asir-55155	83	13	each	each	DET
asir-55155	83	14	variable	variable	NOUN
asir-55155	83	15	in	in	ADP
asir-55155	83	16	the	the	DET
asir-55155	83	17	research	research	NOUN
asir-55155	83	18	sample	sample	NOUN
asir-55155	83	19	,	,	PUNCT
asir-55155	83	20	showing	show	VERB
asir-55155	83	21	mean	mean	NOUN
asir-55155	83	22	,	,	PUNCT
asir-55155	83	23	standard	standard	ADJ
asir-55155	83	24	deviation	deviation	NOUN
asir-55155	83	25	,	,	PUNCT
asir-55155	83	26	maximum	maximum	ADJ
asir-55155	83	27	,	,	PUNCT
asir-55155	83	28	and	and	CCONJ
asir-55155	83	29	minimum	minimum	ADJ
asir-55155	83	30	values	value	NOUN
asir-55155	83	31	.	.	PUNCT
asir-55155	84	1	regression	regression	NOUN
asir-55155	84	2	analysis	analysis	NOUN
asir-55155	84	3	:	:	PUNCT
asir-55155	84	4	perform	perform	VERB
asir-55155	84	5	regression	regression	NOUN
asir-55155	84	6	estimations	estimation	NOUN
asir-55155	84	7	using	use	VERB
asir-55155	84	8	both	both	CCONJ
asir-55155	84	9	the	the	DET
asir-55155	84	10	fixed	fix	VERB
asir-55155	84	11	effects	effect	NOUN
asir-55155	84	12	model	model	NOUN
asir-55155	84	13	and	and	CCONJ
asir-55155	84	14	random	random	ADJ
asir-55155	84	15	effects	effect	NOUN
asir-55155	84	16	model	model	NOUN
asir-55155	84	17	,	,	PUNCT
asir-55155	84	18	and	and	CCONJ
asir-55155	84	19	compare	compare	VERB
asir-55155	84	20	the	the	DET
asir-55155	84	21	results	result	NOUN
asir-55155	84	22	of	of	ADP
asir-55155	84	23	the	the	DET
asir-55155	84	24	two	two	NUM
asir-55155	84	25	models	model	NOUN
asir-55155	84	26	.	.	PUNCT
asir-55155	85	1	robustness	robustness	NOUN
asir-55155	85	2	tests	test	NOUN
asir-55155	85	3	:	:	PUNCT
asir-55155	85	4	conduct	conduct	VERB
asir-55155	85	5	robustness	robustness	NOUN
asir-55155	85	6	checks	check	NOUN
asir-55155	85	7	,	,	PUNCT
asir-55155	85	8	such	such	ADJ
asir-55155	85	9	as	as	ADP
asir-55155	85	10	the	the	DET
asir-55155	85	11	hausman	hausman	PROPN
asir-55155	85	12	test	test	NOUN
asir-55155	85	13	and	and	CCONJ
asir-55155	85	14	heteroscedasticity	heteroscedasticity	NOUN
asir-55155	85	15	tests	test	NOUN
asir-55155	85	16	,	,	PUNCT
asir-55155	85	17	to	to	PART
asir-55155	85	18	ensure	ensure	VERB
asir-55155	85	19	the	the	DET
asir-55155	85	20	reliability	reliability	NOUN
asir-55155	85	21	of	of	ADP
asir-55155	85	22	the	the	DET
asir-55155	85	23	regression	regression	NOUN
asir-55155	85	24	results	result	NOUN
asir-55155	85	25	.	.	PUNCT
asir-55155	86	1	5	5	X
asir-55155	86	2	.	.	X
asir-55155	86	3	empirical	empirical	ADJ
asir-55155	86	4	analysis	analysis	NOUN
asir-55155	86	5	to	to	PART
asir-55155	86	6	better	well	ADV
asir-55155	86	7	understand	understand	VERB
asir-55155	86	8	the	the	DET
asir-55155	86	9	impact	impact	NOUN
asir-55155	86	10	of	of	ADP
asir-55155	86	11	esg	esg	NOUN
asir-55155	86	12	performance	performance	NOUN
asir-55155	86	13	on	on	ADP
asir-55155	86	14	the	the	DET
asir-55155	86	15	financial	financial	ADJ
asir-55155	86	16	performance	performance	NOUN
asir-55155	86	17	of	of	ADP
asir-55155	86	18	chinese	chinese	ADJ
asir-55155	86	19	high	high	ADJ
asir-55155	86	20	-	-	PUNCT
asir-55155	86	21	tech	tech	NOUN
asir-55155	86	22	and	and	CCONJ
asir-55155	86	23	internet	internet	NOUN
asir-55155	86	24	firms	firm	NOUN
asir-55155	86	25	,	,	PUNCT
asir-55155	86	26	this	this	DET
asir-55155	86	27	study	study	NOUN
asir-55155	86	28	conducts	conduct	VERB
asir-55155	86	29	empirical	empirical	ADJ
asir-55155	86	30	analysis	analysis	NOUN
asir-55155	86	31	through	through	ADP
asir-55155	86	32	descriptive	descriptive	ADJ
asir-55155	86	33	statistics	statistic	NOUN
asir-55155	86	34	,	,	PUNCT
asir-55155	86	35	correlation	correlation	NOUN
asir-55155	86	36	analysis	analysis	NOUN
asir-55155	86	37	,	,	PUNCT
asir-55155	86	38	and	and	CCONJ
asir-55155	86	39	regression	regression	NOUN
asir-55155	86	40	model	model	NOUN
asir-55155	86	41	estimation	estimation	NOUN
asir-55155	86	42	.	.	PUNCT
asir-55155	87	1	5.1	5.1	NUM
asir-55155	87	2	descriptive	descriptive	ADJ
asir-55155	87	3	statistical	statistical	ADJ
asir-55155	87	4	analysis	analysis	NOUN
asir-55155	87	5	descriptive	descriptive	ADJ
asir-55155	87	6	statistics	statistic	NOUN
asir-55155	87	7	are	be	AUX
asir-55155	87	8	an	an	DET
asir-55155	87	9	essential	essential	ADJ
asir-55155	87	10	step	step	NOUN
asir-55155	87	11	before	before	ADP
asir-55155	87	12	conducting	conduct	VERB
asir-55155	87	13	regression	regression	NOUN
asir-55155	87	14	analysis	analysis	NOUN
asir-55155	87	15	,	,	PUNCT
asir-55155	87	16	as	as	SCONJ
asir-55155	87	17	they	they	PRON
asir-55155	87	18	summarize	summarize	VERB
asir-55155	87	19	the	the	DET
asir-55155	87	20	basic	basic	ADJ
asir-55155	87	21	features	feature	NOUN
asir-55155	87	22	of	of	ADP
asir-55155	87	23	the	the	DET
asir-55155	87	24	variables	variable	NOUN
asir-55155	87	25	.	.	PUNCT
asir-55155	88	1	the	the	DET
asir-55155	88	2	following	follow	VERB
asir-55155	88	3	table	table	NOUN
asir-55155	88	4	presents	present	VERB
asir-55155	88	5	the	the	DET
asir-55155	88	6	descriptive	descriptive	ADJ
asir-55155	88	7	statistics	statistic	NOUN
asir-55155	88	8	of	of	ADP
asir-55155	88	9	the	the	DET
asir-55155	88	10	key	key	ADJ
asir-55155	88	11	variables	variable	NOUN
asir-55155	88	12	used	use	VERB
asir-55155	88	13	in	in	ADP
asir-55155	88	14	this	this	DET
asir-55155	88	15	study	study	NOUN
asir-55155	88	16	,	,	PUNCT
asir-55155	88	17	such	such	ADJ
asir-55155	88	18	as	as	ADP
asir-55155	88	19	return	return	NOUN
asir-55155	88	20	on	on	ADP
asir-55155	88	21	assets	asset	NOUN
asir-55155	88	22	(	(	PUNCT
asir-55155	88	23	roa	roa	NOUN
asir-55155	88	24	)	)	PUNCT
asir-55155	88	25	,	,	PUNCT
asir-55155	88	26	net	net	ADJ
asir-55155	88	27	profit	profit	NOUN
asir-55155	88	28	margin	margin	NOUN
asir-55155	88	29	(	(	PUNCT
asir-55155	88	30	npm	npm	PROPN
asir-55155	88	31	)	)	PUNCT
asir-55155	88	32	,	,	PUNCT
asir-55155	88	33	esg	esg	PROPN
asir-55155	88	34	scores	score	NOUN
asir-55155	88	35	,	,	PUNCT
asir-55155	88	36	and	and	CCONJ
asir-55155	88	37	its	its	PRON
asir-55155	88	38	sub	sub	NOUN
asir-55155	88	39	-	-	NOUN
asir-55155	88	40	dimensions	dimension	NOUN
asir-55155	88	41	:	:	PUNCT
asir-55155	88	42	table	table	NOUN
asir-55155	88	43	1	1	NUM
asir-55155	88	44	.	.	PUNCT
asir-55155	88	45	descriptive	descriptive	ADJ
asir-55155	88	46	statistics	statistic	NOUN
asir-55155	88	47	variable	variable	ADJ
asir-55155	88	48	sample	sample	NOUN
asir-55155	88	49	size	size	NOUN
asir-55155	88	50	mean	mean	VERB
asir-55155	88	51	std	std	PROPN
asir-55155	88	52	.	.	PROPN
asir-55155	89	1	dev	dev	PROPN
asir-55155	89	2	min	min	PROPN
asir-55155	89	3	max	max	PROPN
asir-55155	89	4	roa	roa	PROPN
asir-55155	89	5	100	100	NUM
asir-55155	89	6	5.25	5.25	NUM
asir-55155	89	7	%	%	NOUN
asir-55155	89	8	3.12	3.12	NUM
asir-55155	89	9	%	%	NOUN
asir-55155	89	10	0.35	0.35	NUM
asir-55155	89	11	%	%	NOUN
asir-55155	89	12	12.47	12.47	NUM
asir-55155	89	13	%	%	NOUN
asir-55155	89	14	npm	npm	NOUN
asir-55155	89	15	100	100	NUM
asir-55155	89	16	8.74	8.74	NUM
asir-55155	89	17	%	%	NOUN
asir-55155	89	18	4.85	4.85	NUM
asir-55155	89	19	%	%	NOUN
asir-55155	89	20	1.23	1.23	NUM
asir-55155	89	21	%	%	NOUN
asir-55155	89	22	20.54	20.54	NUM
asir-55155	89	23	%	%	NOUN
asir-55155	89	24	esg	esg	NOUN
asir-55155	89	25	100	100	NUM
asir-55155	89	26	72.45	72.45	NUM
asir-55155	89	27	10.23	10.23	NUM
asir-55155	89	28	50.34	50.34	NUM
asir-55155	89	29	91.23	91.23	NUM
asir-55155	89	30	e	e	NOUN
asir-55155	89	31	100	100	NUM
asir-55155	89	32	23.14	23.14	NUM
asir-55155	89	33	5.12	5.12	NUM
asir-55155	89	34	12.45	12.45	NUM
asir-55155	89	35	35.67	35.67	NUM
asir-55155	89	36	s	s	NOUN
asir-55155	89	37	100	100	NUM
asir-55155	89	38	28.76	28.76	NUM
asir-55155	89	39	4.67	4.67	NUM
asir-55155	89	40	15.87	15.87	NUM
asir-55155	89	41	37.89	37.89	NUM
asir-55155	89	42	g	g	PROPN
asir-55155	89	43	100	100	NUM
asir-55155	89	44	20.55	20.55	NUM
asir-55155	89	45	6.34	6.34	NUM
asir-55155	89	46	10.45	10.45	NUM
asir-55155	89	47	30.98	30.98	NUM
asir-55155	89	48	firm	firm	ADJ
asir-55155	89	49	size	size	NOUN
asir-55155	89	50	(	(	PUNCT
asir-55155	89	51	total	total	ADJ
asir-55155	89	52	assets	asset	NOUN
asir-55155	89	53	)	)	PUNCT
asir-55155	89	54	100	100	NUM
asir-55155	89	55	123.4	123.4	NUM
asir-55155	89	56	billion	billion	NUM
asir-55155	89	57	48.0	48.0	NUM
asir-55155	89	58	billion	billion	NUM
asir-55155	89	59	45.0	45.0	NUM
asir-55155	89	60	billion	billion	NUM
asir-55155	89	61	275.0	275.0	NUM
asir-55155	89	62	billion	billion	NUM
asir-55155	89	63	market	market	NOUN
asir-55155	89	64	share	share	VERB
asir-55155	89	65	100	100	NUM
asir-55155	89	66	12.34	12.34	NUM
asir-55155	89	67	%	%	NOUN
asir-55155	89	68	5.67	5.67	NUM
asir-55155	89	69	%	%	NOUN
asir-55155	89	70	3.45	3.45	NUM
asir-55155	89	71	%	%	NOUN
asir-55155	89	72	25.89	25.89	NUM
asir-55155	89	73	%	%	NOUN
asir-55155	89	74	www.scholink.org/ojs/index.php/asir	www.scholink.org/ojs/index.php/asir	NOUN
asir-55155	89	75	applied	apply	VERB
asir-55155	89	76	science	science	NOUN
asir-55155	89	77	and	and	CCONJ
asir-55155	89	78	innovative	innovative	ADJ
asir-55155	89	79	research	research	NOUN
asir-55155	89	80	vol	vol	NOUN
asir-55155	89	81	.	.	PROPN
asir-55155	90	1	8	8	NUM
asir-55155	90	2	,	,	PUNCT
asir-55155	90	3	no	no	INTJ
asir-55155	90	4	.	.	NOUN
asir-55155	90	5	4	4	NUM
asir-55155	90	6	,	,	PUNCT
asir-55155	90	7	2024	2024	NUM
asir-55155	90	8	54	54	NUM
asir-55155	90	9	published	publish	VERB
asir-55155	90	10	by	by	ADP
asir-55155	90	11	scholink	scholink	PROPN
asir-55155	90	12	inc	inc	PROPN
asir-55155	90	13	.	.	PROPN
asir-55155	90	14	from	from	ADP
asir-55155	90	15	table	table	NOUN
asir-55155	90	16	1	1	NUM
asir-55155	90	17	,	,	PUNCT
asir-55155	90	18	it	it	PRON
asir-55155	90	19	is	be	AUX
asir-55155	90	20	evident	evident	ADJ
asir-55155	90	21	that	that	SCONJ
asir-55155	90	22	there	there	PRON
asir-55155	90	23	are	be	VERB
asir-55155	90	24	significant	significant	ADJ
asir-55155	90	25	variations	variation	NOUN
asir-55155	90	26	in	in	ADP
asir-55155	90	27	both	both	CCONJ
asir-55155	90	28	the	the	DET
asir-55155	90	29	financial	financial	ADJ
asir-55155	90	30	and	and	CCONJ
asir-55155	90	31	esg	esg	NOUN
asir-55155	90	32	performance	performance	NOUN
asir-55155	90	33	across	across	ADP
asir-55155	90	34	firms	firm	NOUN
asir-55155	90	35	.	.	PUNCT
asir-55155	91	1	the	the	DET
asir-55155	91	2	standard	standard	ADJ
asir-55155	91	3	deviations	deviation	NOUN
asir-55155	91	4	for	for	ADP
asir-55155	91	5	roa	roa	PROPN
asir-55155	91	6	and	and	CCONJ
asir-55155	91	7	npm	npm	PROPN
asir-55155	91	8	,	,	PUNCT
asir-55155	91	9	which	which	PRON
asir-55155	91	10	measure	measure	VERB
asir-55155	91	11	profitability	profitability	NOUN
asir-55155	91	12	,	,	PUNCT
asir-55155	91	13	are	be	AUX
asir-55155	91	14	relatively	relatively	ADV
asir-55155	91	15	high	high	ADJ
asir-55155	91	16	,	,	PUNCT
asir-55155	91	17	indicating	indicate	VERB
asir-55155	91	18	a	a	DET
asir-55155	91	19	large	large	ADJ
asir-55155	91	20	disparity	disparity	NOUN
asir-55155	91	21	in	in	ADP
asir-55155	91	22	financial	financial	ADJ
asir-55155	91	23	performance	performance	NOUN
asir-55155	91	24	.	.	PUNCT
asir-55155	92	1	similarly	similarly	ADV
asir-55155	92	2	,	,	PUNCT
asir-55155	92	3	the	the	DET
asir-55155	92	4	overall	overall	ADJ
asir-55155	92	5	esg	esg	PROPN
asir-55155	92	6	score	score	NOUN
asir-55155	92	7	and	and	CCONJ
asir-55155	92	8	its	its	PRON
asir-55155	92	9	sub	sub	ADJ
asir-55155	92	10	-	-	NOUN
asir-55155	92	11	dimensions	dimension	NOUN
asir-55155	92	12	show	show	VERB
asir-55155	92	13	considerable	considerable	ADJ
asir-55155	92	14	variation	variation	NOUN
asir-55155	92	15	,	,	PUNCT
asir-55155	92	16	particularly	particularly	ADV
asir-55155	92	17	the	the	DET
asir-55155	92	18	environmental	environmental	ADJ
asir-55155	92	19	(	(	PUNCT
asir-55155	92	20	e	e	NOUN
asir-55155	92	21	)	)	PUNCT
asir-55155	92	22	dimension	dimension	NOUN
asir-55155	92	23	,	,	PUNCT
asir-55155	92	24	where	where	SCONJ
asir-55155	92	25	the	the	DET
asir-55155	92	26	scores	score	NOUN
asir-55155	92	27	fluctuate	fluctuate	VERB
asir-55155	92	28	widely	widely	ADV
asir-55155	92	29	.	.	PUNCT
asir-55155	93	1	this	this	PRON
asir-55155	93	2	suggests	suggest	VERB
asir-55155	93	3	that	that	SCONJ
asir-55155	93	4	firms	firm	NOUN
asir-55155	93	5	differ	differ	VERB
asir-55155	93	6	significantly	significantly	ADV
asir-55155	93	7	in	in	ADP
asir-55155	93	8	their	their	PRON
asir-55155	93	9	environmental	environmental	ADJ
asir-55155	93	10	efforts	effort	NOUN
asir-55155	93	11	and	and	CCONJ
asir-55155	93	12	commitments	commitment	NOUN
asir-55155	93	13	.	.	PUNCT
asir-55155	94	1	5.2	5.2	NUM
asir-55155	94	2	correlation	correlation	NOUN
asir-55155	94	3	analysis	analysis	NOUN
asir-55155	94	4	to	to	PART
asir-55155	94	5	preliminarily	preliminarily	ADV
asir-55155	94	6	examine	examine	VERB
asir-55155	94	7	the	the	DET
asir-55155	94	8	relationship	relationship	NOUN
asir-55155	94	9	between	between	ADP
asir-55155	94	10	esg	esg	PROPN
asir-55155	94	11	and	and	CCONJ
asir-55155	94	12	its	its	PRON
asir-55155	94	13	sub	sub	NOUN
asir-55155	94	14	-	-	NOUN
asir-55155	94	15	dimensions	dimension	NOUN
asir-55155	94	16	with	with	ADP
asir-55155	94	17	financial	financial	ADJ
asir-55155	94	18	performance	performance	NOUN
asir-55155	94	19	,	,	PUNCT
asir-55155	94	20	we	we	PRON
asir-55155	94	21	conducted	conduct	VERB
asir-55155	94	22	a	a	DET
asir-55155	94	23	correlation	correlation	NOUN
asir-55155	94	24	analysis	analysis	NOUN
asir-55155	94	25	.	.	PUNCT
asir-55155	95	1	the	the	DET
asir-55155	95	2	following	follow	VERB
asir-55155	95	3	table	table	NOUN
asir-55155	95	4	shows	show	VERB
asir-55155	95	5	pearson	pearson	PROPN
asir-55155	95	6	correlation	correlation	NOUN
asir-55155	95	7	coefficients	coefficient	NOUN
asir-55155	95	8	between	between	ADP
asir-55155	95	9	key	key	ADJ
asir-55155	95	10	variables	variable	NOUN
asir-55155	95	11	:	:	PUNCT
asir-55155	96	1	table	table	NOUN
asir-55155	96	2	2	2	NUM
asir-55155	96	3	.	.	PUNCT
asir-55155	96	4	correlation	correlation	NOUN
asir-55155	96	5	analysis	analysis	NOUN
asir-55155	96	6	variable	variable	ADJ
asir-55155	96	7	roa	roa	PROPN
asir-55155	96	8	npm	npm	PROPN
asir-55155	96	9	esg	esg	PROPN
asir-55155	96	10	e	e	PROPN
asir-55155	96	11	s	s	PROPN
asir-55155	96	12	g	g	PROPN
asir-55155	96	13	firm	firm	ADJ
asir-55155	96	14	size	size	NOUN
asir-55155	96	15	market	market	NOUN
asir-55155	96	16	share	share	NOUN
asir-55155	96	17	roa	roa	PROPN
asir-55155	96	18	1.00	1.00	NUM
asir-55155	96	19	0.63	0.63	NUM
asir-55155	96	20	0.34	0.34	NUM
asir-55155	96	21	*	*	PUNCT
asir-55155	96	22	*	*	PUNCT
asir-55155	97	1	0.21	0.21	NUM
asir-55155	97	2	*	*	PUNCT
asir-55155	97	3	0.27	0.27	NUM
asir-55155	97	4	*	*	NOUN
asir-55155	97	5	*	*	PUNCT
asir-55155	97	6	0.29	0.29	NUM
asir-55155	97	7	*	*	PUNCT
asir-55155	97	8	*	*	PUNCT
asir-55155	98	1	0.38	0.38	NUM
asir-55155	98	2	*	*	PUNCT
asir-55155	98	3	*	*	PUNCT
asir-55155	98	4	0.43	0.43	NUM
asir-55155	98	5	*	*	PUNCT
asir-55155	98	6	*	*	PUNCT
asir-55155	98	7	npm	npm	PROPN
asir-55155	98	8	0.63	0.63	NUM
asir-55155	98	9	*	*	NOUN
asir-55155	98	10	*	*	PUNCT
asir-55155	98	11	1.00	1.00	NUM
asir-55155	98	12	0.30	0.30	NUM
asir-55155	98	13	*	*	PUNCT
asir-55155	98	14	*	*	PUNCT
asir-55155	98	15	0.19	0.19	NUM
asir-55155	98	16	*	*	SYM
asir-55155	98	17	0.22	0.22	NUM
asir-55155	98	18	*	*	NOUN
asir-55155	98	19	0.25	0.25	NUM
asir-55155	98	20	*	*	PUNCT
asir-55155	98	21	*	*	PUNCT
asir-55155	98	22	0.31	0.31	NUM
asir-55155	98	23	*	*	PUNCT
asir-55155	98	24	*	*	PUNCT
asir-55155	99	1	0.39	0.39	NUM
asir-55155	99	2	*	*	PUNCT
asir-55155	99	3	*	*	PUNCT
asir-55155	99	4	esg	esg	NOUN
asir-55155	99	5	0.34	0.34	NUM
asir-55155	99	6	*	*	PUNCT
asir-55155	99	7	*	*	PUNCT
asir-55155	99	8	0.30	0.30	NUM
asir-55155	99	9	*	*	PUNCT
asir-55155	99	10	*	*	PUNCT
asir-55155	99	11	1.00	1.00	NUM
asir-55155	99	12	0.71	0.71	NUM
asir-55155	99	13	*	*	PUNCT
asir-55155	99	14	*	*	PUNCT
asir-55155	100	1	0.76	0.76	NUM
asir-55155	100	2	*	*	PUNCT
asir-55155	100	3	*	*	PUNCT
asir-55155	100	4	0.69	0.69	NUM
asir-55155	100	5	*	*	NOUN
asir-55155	100	6	*	*	PUNCT
asir-55155	100	7	0.48	0.48	NUM
asir-55155	100	8	*	*	PUNCT
asir-55155	100	9	*	*	PUNCT
asir-55155	100	10	0.52	0.52	NUM
asir-55155	100	11	*	*	PUNCT
asir-55155	100	12	*	*	PUNCT
asir-55155	100	13	e	e	X
asir-55155	100	14	0.21	0.21	NUM
asir-55155	100	15	*	*	SYM
asir-55155	100	16	0.19	0.19	NUM
asir-55155	100	17	*	*	PUNCT
asir-55155	100	18	0.71	0.71	NUM
asir-55155	100	19	*	*	PUNCT
asir-55155	100	20	*	*	PUNCT
asir-55155	100	21	1.00	1.00	NUM
asir-55155	100	22	0.45	0.45	NUM
asir-55155	100	23	*	*	PUNCT
asir-55155	100	24	*	*	PUNCT
asir-55155	100	25	0.50	0.50	NUM
asir-55155	100	26	*	*	PUNCT
asir-55155	100	27	*	*	PUNCT
asir-55155	101	1	0.33	0.33	NUM
asir-55155	101	2	*	*	PUNCT
asir-55155	101	3	*	*	PUNCT
asir-55155	101	4	0.27	0.27	NUM
asir-55155	101	5	*	*	PUNCT
asir-55155	101	6	*	*	PUNCT
asir-55155	101	7	s	s	PART
asir-55155	101	8	0.27	0.27	NUM
asir-55155	101	9	*	*	NOUN
asir-55155	101	10	*	*	NOUN
asir-55155	101	11	0.22	0.22	NUM
asir-55155	101	12	*	*	PUNCT
asir-55155	101	13	0.76	0.76	NUM
asir-55155	101	14	*	*	PUNCT
asir-55155	101	15	*	*	PUNCT
asir-55155	101	16	0.45	0.45	NUM
asir-55155	101	17	*	*	PUNCT
asir-55155	101	18	*	*	PUNCT
asir-55155	101	19	1.00	1.00	NUM
asir-55155	101	20	0.46	0.46	NUM
asir-55155	101	21	*	*	PUNCT
asir-55155	101	22	*	*	PUNCT
asir-55155	102	1	0.41	0.41	NUM
asir-55155	102	2	*	*	PUNCT
asir-55155	102	3	*	*	PUNCT
asir-55155	102	4	0.37	0.37	NUM
asir-55155	102	5	*	*	PUNCT
asir-55155	102	6	*	*	PUNCT
asir-55155	102	7	g	g	ADP
asir-55155	102	8	0.29	0.29	NUM
asir-55155	102	9	*	*	PUNCT
asir-55155	102	10	*	*	PUNCT
asir-55155	102	11	0.25	0.25	NUM
asir-55155	102	12	*	*	PUNCT
asir-55155	102	13	*	*	PUNCT
asir-55155	102	14	0.69	0.69	NUM
asir-55155	102	15	*	*	NOUN
asir-55155	102	16	*	*	PUNCT
asir-55155	102	17	0.50	0.50	NUM
asir-55155	102	18	*	*	PUNCT
asir-55155	102	19	*	*	PUNCT
asir-55155	102	20	0.46	0.46	NUM
asir-55155	102	21	*	*	PUNCT
asir-55155	102	22	*	*	PUNCT
asir-55155	102	23	1.00	1.00	NUM
asir-55155	102	24	0.39	0.39	NUM
asir-55155	102	25	*	*	PUNCT
asir-55155	102	26	*	*	PUNCT
asir-55155	102	27	0.43	0.43	NUM
asir-55155	102	28	*	*	PUNCT
asir-55155	102	29	*	*	PUNCT
asir-55155	102	30	firm	firm	ADJ
asir-55155	102	31	size	size	NOUN
asir-55155	102	32	0.38	0.38	NUM
asir-55155	102	33	*	*	PUNCT
asir-55155	102	34	*	*	PUNCT
asir-55155	102	35	0.31	0.31	NUM
asir-55155	102	36	*	*	PUNCT
asir-55155	102	37	*	*	PUNCT
asir-55155	102	38	0.48	0.48	NUM
asir-55155	102	39	*	*	PUNCT
asir-55155	102	40	*	*	PUNCT
asir-55155	102	41	0.33	0.33	NUM
asir-55155	102	42	*	*	PUNCT
asir-55155	102	43	*	*	PUNCT
asir-55155	102	44	0.41	0.41	NUM
asir-55155	102	45	*	*	PUNCT
asir-55155	102	46	*	*	PUNCT
asir-55155	102	47	0.39	0.39	NUM
asir-55155	102	48	*	*	PUNCT
asir-55155	102	49	*	*	PUNCT
asir-55155	102	50	1.00	1.00	NUM
asir-55155	102	51	0.47	0.47	NUM
asir-55155	102	52	*	*	PUNCT
asir-55155	102	53	*	*	PUNCT
asir-55155	102	54	market	market	NOUN
asir-55155	102	55	share	share	NOUN
asir-55155	102	56	0.43	0.43	NUM
asir-55155	102	57	*	*	PUNCT
asir-55155	102	58	*	*	PUNCT
asir-55155	102	59	0.39	0.39	NUM
asir-55155	102	60	*	*	PUNCT
asir-55155	102	61	*	*	PUNCT
asir-55155	102	62	0.52	0.52	NUM
asir-55155	102	63	*	*	PUNCT
asir-55155	102	64	*	*	PUNCT
asir-55155	102	65	0.27	0.27	NUM
asir-55155	102	66	*	*	PUNCT
asir-55155	102	67	*	*	PUNCT
asir-55155	102	68	0.37	0.37	NUM
asir-55155	102	69	*	*	PUNCT
asir-55155	102	70	*	*	PUNCT
asir-55155	102	71	0.43	0.43	NUM
asir-55155	102	72	*	*	PUNCT
asir-55155	102	73	*	*	X
asir-55155	102	74	0.47	0.47	NUM
asir-55155	102	75	*	*	PUNCT
asir-55155	102	76	*	*	PROPN
asir-55155	102	77	1.00	1.00	NUM
asir-55155	102	78	note	note	NOUN
asir-55155	102	79	.	.	PUNCT
asir-55155	103	1	*	*	PUNCT
asir-55155	103	2	*	*	PUNCT
asir-55155	103	3	indicates	indicate	VERB
asir-55155	103	4	significance	significance	NOUN
asir-55155	103	5	at	at	ADP
asir-55155	103	6	the	the	DET
asir-55155	103	7	1	1	NUM
asir-55155	103	8	%	%	NOUN
asir-55155	103	9	level	level	NOUN
asir-55155	103	10	;	;	PUNCT
asir-55155	103	11	*	*	PUNCT
asir-55155	103	12	indicates	indicate	VERB
asir-55155	103	13	significance	significance	NOUN
asir-55155	103	14	at	at	ADP
asir-55155	103	15	the	the	DET
asir-55155	103	16	5	5	NUM
asir-55155	103	17	%	%	NOUN
asir-55155	103	18	level	level	NOUN
asir-55155	103	19	.	.	PUNCT
asir-55155	104	1	the	the	DET
asir-55155	104	2	correlation	correlation	NOUN
asir-55155	104	3	analysis	analysis	NOUN
asir-55155	104	4	reveals	reveal	VERB
asir-55155	104	5	that	that	SCONJ
asir-55155	104	6	overall	overall	ADJ
asir-55155	104	7	esg	esg	PROPN
asir-55155	104	8	scores	score	NOUN
asir-55155	104	9	are	be	AUX
asir-55155	104	10	positively	positively	ADV
asir-55155	104	11	and	and	CCONJ
asir-55155	104	12	significantly	significantly	ADV
asir-55155	104	13	correlated	correlate	VERB
asir-55155	104	14	with	with	ADP
asir-55155	104	15	both	both	PRON
asir-55155	104	16	roa	roa	PROPN
asir-55155	104	17	and	and	CCONJ
asir-55155	104	18	npm	npm	PROPN
asir-55155	104	19	,	,	PUNCT
asir-55155	104	20	suggesting	suggest	VERB
asir-55155	104	21	that	that	SCONJ
asir-55155	104	22	firms	firm	NOUN
asir-55155	104	23	with	with	ADP
asir-55155	104	24	higher	high	ADJ
asir-55155	104	25	esg	esg	PROPN
asir-55155	104	26	ratings	rating	NOUN
asir-55155	104	27	tend	tend	VERB
asir-55155	104	28	to	to	PART
asir-55155	104	29	exhibit	exhibit	VERB
asir-55155	104	30	better	well	ADJ
asir-55155	104	31	financial	financial	ADJ
asir-55155	104	32	performance	performance	NOUN
asir-55155	104	33	.	.	PUNCT
asir-55155	105	1	this	this	DET
asir-55155	105	2	positive	positive	ADJ
asir-55155	105	3	relationship	relationship	NOUN
asir-55155	105	4	is	be	AUX
asir-55155	105	5	particularly	particularly	ADV
asir-55155	105	6	evident	evident	ADJ
asir-55155	105	7	in	in	ADP
asir-55155	105	8	the	the	DET
asir-55155	105	9	governance	governance	NOUN
asir-55155	105	10	(	(	PUNCT
asir-55155	105	11	g	g	NOUN
asir-55155	105	12	)	)	PUNCT
asir-55155	105	13	and	and	CCONJ
asir-55155	105	14	social	social	ADJ
asir-55155	105	15	(	(	PUNCT
asir-55155	105	16	s	s	NOUN
asir-55155	105	17	)	)	PUNCT
asir-55155	105	18	dimensions	dimension	NOUN
asir-55155	105	19	,	,	PUNCT
asir-55155	105	20	highlighting	highlight	VERB
asir-55155	105	21	that	that	SCONJ
asir-55155	105	22	strong	strong	ADJ
asir-55155	105	23	governance	governance	NOUN
asir-55155	105	24	structures	structure	NOUN
asir-55155	105	25	and	and	CCONJ
asir-55155	105	26	social	social	ADJ
asir-55155	105	27	responsibility	responsibility	NOUN
asir-55155	105	28	practices	practice	NOUN
asir-55155	105	29	play	play	VERB
asir-55155	105	30	a	a	DET
asir-55155	105	31	crucial	crucial	ADJ
asir-55155	105	32	role	role	NOUN
asir-55155	105	33	in	in	ADP
asir-55155	105	34	driving	drive	VERB
asir-55155	105	35	financial	financial	ADJ
asir-55155	105	36	performance	performance	NOUN
asir-55155	105	37	.	.	PUNCT
asir-55155	106	1	interestingly	interestingly	ADV
asir-55155	106	2	,	,	PUNCT
asir-55155	106	3	the	the	DET
asir-55155	106	4	environmental	environmental	ADJ
asir-55155	106	5	(	(	PUNCT
asir-55155	106	6	e	e	NOUN
asir-55155	106	7	)	)	PUNCT
asir-55155	106	8	dimension	dimension	NOUN
asir-55155	106	9	shows	show	VERB
asir-55155	106	10	a	a	DET
asir-55155	106	11	relatively	relatively	ADV
asir-55155	106	12	weaker	weak	ADJ
asir-55155	106	13	correlation	correlation	NOUN
asir-55155	106	14	with	with	ADP
asir-55155	106	15	both	both	DET
asir-55155	106	16	roa	roa	NOUN
asir-55155	106	17	and	and	CCONJ
asir-55155	106	18	npm	npm	PROPN
asir-55155	106	19	,	,	PUNCT
asir-55155	106	20	implying	imply	VERB
asir-55155	106	21	that	that	SCONJ
asir-55155	106	22	environmental	environmental	ADJ
asir-55155	106	23	initiatives	initiative	NOUN
asir-55155	106	24	may	may	AUX
asir-55155	106	25	not	not	PART
asir-55155	106	26	have	have	VERB
asir-55155	106	27	as	as	ADV
asir-55155	106	28	immediate	immediate	ADJ
asir-55155	106	29	an	an	DET
asir-55155	106	30	impact	impact	NOUN
asir-55155	106	31	on	on	ADP
asir-55155	106	32	financial	financial	ADJ
asir-55155	106	33	returns	return	NOUN
asir-55155	106	34	compared	compare	VERB
asir-55155	106	35	to	to	ADP
asir-55155	106	36	other	other	ADJ
asir-55155	106	37	dimensions	dimension	NOUN
asir-55155	106	38	.	.	PUNCT
asir-55155	107	1	additionally	additionally	ADV
asir-55155	107	2	,	,	PUNCT
asir-55155	107	3	firm	firm	ADJ
asir-55155	107	4	size	size	NOUN
asir-55155	107	5	and	and	CCONJ
asir-55155	107	6	market	market	NOUN
asir-55155	107	7	share	share	NOUN
asir-55155	107	8	are	be	AUX
asir-55155	107	9	positively	positively	ADV
asir-55155	107	10	correlated	correlate	VERB
asir-55155	107	11	with	with	ADP
asir-55155	107	12	financial	financial	ADJ
asir-55155	107	13	performance	performance	NOUN
asir-55155	107	14	,	,	PUNCT
asir-55155	107	15	indicating	indicate	VERB
asir-55155	107	16	that	that	SCONJ
asir-55155	107	17	larger	large	ADJ
asir-55155	107	18	firms	firm	NOUN
asir-55155	107	19	with	with	ADP
asir-55155	107	20	greater	great	ADJ
asir-55155	107	21	market	market	NOUN
asir-55155	107	22	share	share	NOUN
asir-55155	107	23	typically	typically	ADV
asir-55155	107	24	have	have	VERB
asir-55155	107	25	better	well	ADJ
asir-55155	107	26	financial	financial	ADJ
asir-55155	107	27	outcomes	outcome	NOUN
asir-55155	107	28	,	,	PUNCT
asir-55155	107	29	likely	likely	ADJ
asir-55155	107	30	due	due	ADP
asir-55155	107	31	to	to	ADP
asir-55155	107	32	their	their	PRON
asir-55155	107	33	greater	great	ADJ
asir-55155	107	34	resources	resource	NOUN
asir-55155	107	35	and	and	CCONJ
asir-55155	107	36	operational	operational	ADJ
asir-55155	107	37	efficiency	efficiency	NOUN
asir-55155	107	38	.	.	PUNCT
asir-55155	108	1	www.scholink.org/ojs/index.php/asir	www.scholink.org/ojs/index.php/asir	PROPN
asir-55155	108	2	applied	apply	VERB
asir-55155	108	3	science	science	NOUN
asir-55155	108	4	and	and	CCONJ
asir-55155	108	5	innovative	innovative	ADJ
asir-55155	108	6	research	research	NOUN
asir-55155	108	7	vol	vol	NOUN
asir-55155	108	8	.	.	PROPN
asir-55155	109	1	8	8	NUM
asir-55155	109	2	,	,	PUNCT
asir-55155	109	3	no	no	INTJ
asir-55155	109	4	.	.	NOUN
asir-55155	109	5	4	4	NUM
asir-55155	109	6	,	,	PUNCT
asir-55155	109	7	2024	2024	NUM
asir-55155	109	8	55	55	NUM
asir-55155	109	9	published	publish	VERB
asir-55155	109	10	by	by	ADP
asir-55155	109	11	scholink	scholink	PROPN
asir-55155	109	12	inc	inc	PROPN
asir-55155	109	13	.	.	PROPN
asir-55155	109	14	5.3	5.3	NUM
asir-55155	109	15	regression	regression	NOUN
asir-55155	109	16	analysis	analysis	NOUN
asir-55155	109	17	results	result	NOUN
asir-55155	109	18	to	to	PART
asir-55155	109	19	further	far	ADV
asir-55155	109	20	validate	validate	VERB
asir-55155	109	21	the	the	DET
asir-55155	109	22	impact	impact	NOUN
asir-55155	109	23	of	of	ADP
asir-55155	109	24	esg	esg	NOUN
asir-55155	109	25	performance	performance	NOUN
asir-55155	109	26	on	on	ADP
asir-55155	109	27	financial	financial	ADJ
asir-55155	109	28	outcomes	outcome	NOUN
asir-55155	109	29	,	,	PUNCT
asir-55155	109	30	this	this	DET
asir-55155	109	31	study	study	NOUN
asir-55155	109	32	employed	employ	VERB
asir-55155	109	33	both	both	CCONJ
asir-55155	109	34	fixed	fix	VERB
asir-55155	109	35	-	-	PUNCT
asir-55155	109	36	effects	effect	NOUN
asir-55155	109	37	(	(	PUNCT
asir-55155	109	38	fem	fem	NOUN
asir-55155	109	39	)	)	PUNCT
asir-55155	109	40	and	and	CCONJ
asir-55155	109	41	random	random	ADJ
asir-55155	109	42	-	-	PUNCT
asir-55155	109	43	effects	effect	NOUN
asir-55155	109	44	(	(	PUNCT
asir-55155	109	45	rem	rem	NOUN
asir-55155	109	46	)	)	PUNCT
asir-55155	109	47	models	model	NOUN
asir-55155	109	48	on	on	ADP
asir-55155	109	49	panel	panel	NOUN
asir-55155	109	50	data	datum	NOUN
asir-55155	109	51	.	.	PUNCT
asir-55155	110	1	the	the	DET
asir-55155	110	2	following	follow	VERB
asir-55155	110	3	table	table	NOUN
asir-55155	110	4	presents	present	VERB
asir-55155	110	5	the	the	DET
asir-55155	110	6	regression	regression	NOUN
asir-55155	110	7	results	result	NOUN
asir-55155	110	8	:	:	PUNCT
asir-55155	110	9	table	table	NOUN
asir-55155	110	10	3	3	NUM
asir-55155	110	11	.	.	PUNCT
asir-55155	111	1	regression	regression	VERB
asir-55155	111	2	analysis	analysis	NOUN
asir-55155	111	3	model	model	NOUN
asir-55155	111	4	dependent	dependent	ADJ
asir-55155	111	5	variable	variable	ADJ
asir-55155	111	6	esg	esg	PROPN
asir-55155	111	7	coefficient	coefficient	NOUN
asir-55155	111	8	e	e	PROPN
asir-55155	111	9	coefficient	coefficient	NOUN
asir-55155	111	10	s	s	PART
asir-55155	111	11	coefficient	coefficient	NOUN
asir-55155	111	12	g	g	PROPN
asir-55155	111	13	coefficient	coefficient	NOUN
asir-55155	111	14	firm	firm	ADJ
asir-55155	111	15	size	size	NOUN
asir-55155	111	16	coefficient	coefficient	NOUN
asir-55155	111	17	market	market	NOUN
asir-55155	111	18	share	share	NOUN
asir-55155	111	19	coefficient	coefficient	NOUN
asir-55155	111	20	r²	r²	VERB
asir-55155	111	21	fixed	fix	VERB
asir-55155	111	22	-	-	PUNCT
asir-55155	111	23	effects	effect	NOUN
asir-55155	111	24	model	model	NOUN
asir-55155	111	25	(	(	PUNCT
asir-55155	111	26	fem	fem	PROPN
asir-55155	111	27	)	)	PUNCT
asir-55155	111	28	roa	roa	NOUN
asir-55155	111	29	0.123	0.123	NUM
asir-55155	111	30	*	*	PROPN
asir-55155	111	31	*	*	PUNCT
asir-55155	111	32	0.034	0.034	NUM
asir-55155	111	33	*	*	PUNCT
asir-55155	111	34	0.067	0.067	NUM
asir-55155	111	35	*	*	NOUN
asir-55155	111	36	*	*	PUNCT
asir-55155	111	37	0.089	0.089	NUM
asir-55155	111	38	*	*	PUNCT
asir-55155	111	39	*	*	PUNCT
asir-55155	111	40	0.045	0.045	NUM
asir-55155	111	41	*	*	X
asir-55155	111	42	*	*	PUNCT
asir-55155	111	43	0.056	0.056	NUM
asir-55155	111	44	*	*	X
asir-55155	111	45	*	*	PROPN
asir-55155	111	46	0.748	0.748	NUM
asir-55155	111	47	fixed	fix	VERB
asir-55155	111	48	-	-	PUNCT
asir-55155	111	49	effects	effect	NOUN
asir-55155	111	50	model	model	NOUN
asir-55155	111	51	(	(	PUNCT
asir-55155	111	52	fem	fem	PROPN
asir-55155	111	53	)	)	PUNCT
asir-55155	111	54	npm	npm	PROPN
asir-55155	111	55	0.087	0.087	NUM
asir-55155	111	56	*	*	NUM
asir-55155	111	57	0.028	0.028	NUM
asir-55155	111	58	*	*	NOUN
asir-55155	111	59	0.054	0.054	NUM
asir-55155	111	60	*	*	PUNCT
asir-55155	111	61	*	*	X
asir-55155	111	62	0.074	0.074	NUM
asir-55155	111	63	*	*	PUNCT
asir-55155	111	64	*	*	PUNCT
asir-55155	111	65	0.041	0.041	NUM
asir-55155	111	66	*	*	PUNCT
asir-55155	111	67	*	*	PUNCT
asir-55155	111	68	0.053	0.053	NUM
asir-55155	111	69	*	*	PUNCT
asir-55155	111	70	*	*	PUNCT
asir-55155	111	71	0.721	0.721	NUM
asir-55155	111	72	random	random	ADJ
asir-55155	111	73	-	-	PUNCT
asir-55155	111	74	effects	effect	NOUN
asir-55155	111	75	model	model	NOUN
asir-55155	111	76	(	(	PUNCT
asir-55155	111	77	rem	rem	PROPN
asir-55155	111	78	)	)	PUNCT
asir-55155	111	79	roa	roa	NOUN
asir-55155	111	80	0.114	0.114	NUM
asir-55155	111	81	*	*	PUNCT
asir-55155	111	82	*	*	PUNCT
asir-55155	111	83	0.029	0.029	NUM
asir-55155	111	84	0.062	0.062	NUM
asir-55155	111	85	*	*	PUNCT
asir-55155	111	86	*	*	PUNCT
asir-55155	111	87	0.081	0.081	NUM
asir-55155	111	88	*	*	PUNCT
asir-55155	111	89	*	*	PUNCT
asir-55155	111	90	0.048	0.048	NUM
asir-55155	111	91	*	*	X
asir-55155	111	92	*	*	NOUN
asir-55155	111	93	0.057	0.057	NUM
asir-55155	111	94	*	*	X
asir-55155	111	95	*	*	NOUN
asir-55155	111	96	0.734	0.734	NUM
asir-55155	111	97	random	random	ADJ
asir-55155	111	98	-	-	PUNCT
asir-55155	111	99	effects	effect	NOUN
asir-55155	111	100	model	model	NOUN
asir-55155	111	101	(	(	PUNCT
asir-55155	111	102	rem	rem	PROPN
asir-55155	111	103	)	)	PUNCT
asir-55155	111	104	npm	npm	NOUN
asir-55155	111	105	0.079	0.079	NUM
asir-55155	111	106	*	*	PROPN
asir-55155	111	107	0.021	0.021	NUM
asir-55155	111	108	0.048	0.048	NUM
asir-55155	111	109	*	*	X
asir-55155	111	110	*	*	PUNCT
asir-55155	111	111	0.069	0.069	NUM
asir-55155	111	112	*	*	X
asir-55155	111	113	*	*	X
asir-55155	111	114	0.039	0.039	NUM
asir-55155	111	115	*	*	X
asir-55155	111	116	*	*	X
asir-55155	111	117	0.052	0.052	PRON
asir-55155	111	118	*	*	PUNCT
asir-55155	111	119	*	*	X
asir-55155	111	120	0.708	0.708	NUM
asir-55155	111	121	note	note	NOUN
asir-55155	111	122	.	.	PUNCT
asir-55155	112	1	*	*	PUNCT
asir-55155	112	2	indicates	indicate	VERB
asir-55155	112	3	significance	significance	NOUN
asir-55155	112	4	at	at	ADP
asir-55155	112	5	the	the	DET
asir-55155	112	6	5	5	NUM
asir-55155	112	7	%	%	NOUN
asir-55155	112	8	level	level	NOUN
asir-55155	112	9	;	;	PUNCT
asir-55155	112	10	*	*	PUNCT
asir-55155	112	11	*	*	PUNCT
asir-55155	112	12	indicates	indicate	VERB
asir-55155	112	13	significance	significance	NOUN
asir-55155	112	14	at	at	ADP
asir-55155	112	15	the	the	DET
asir-55155	112	16	1	1	NUM
asir-55155	112	17	%	%	NOUN
asir-55155	112	18	level	level	NOUN
asir-55155	112	19	.	.	PUNCT
asir-55155	113	1	the	the	DET
asir-55155	113	2	following	follow	VERB
asir-55155	113	3	conclusions	conclusion	NOUN
asir-55155	113	4	can	can	AUX
asir-55155	113	5	be	be	AUX
asir-55155	113	6	drawn	draw	VERB
asir-55155	113	7	from	from	ADP
asir-55155	113	8	the	the	DET
asir-55155	113	9	regression	regression	NOUN
asir-55155	113	10	analysis	analysis	NOUN
asir-55155	113	11	:	:	PUNCT
asir-55155	113	12	esg	esg	NOUN
asir-55155	113	13	scores	score	NOUN
asir-55155	113	14	have	have	VERB
asir-55155	113	15	a	a	DET
asir-55155	113	16	significant	significant	ADJ
asir-55155	113	17	positive	positive	ADJ
asir-55155	113	18	impact	impact	NOUN
asir-55155	113	19	on	on	ADP
asir-55155	113	20	both	both	DET
asir-55155	113	21	roa	roa	NOUN
asir-55155	113	22	and	and	CCONJ
asir-55155	113	23	npm	npm	PROPN
asir-55155	113	24	,	,	PUNCT
asir-55155	113	25	suggesting	suggest	VERB
asir-55155	113	26	that	that	SCONJ
asir-55155	113	27	firms	firm	NOUN
asir-55155	113	28	with	with	ADP
asir-55155	113	29	stronger	strong	ADJ
asir-55155	113	30	esg	esg	NOUN
asir-55155	113	31	performance	performance	NOUN
asir-55155	113	32	generally	generally	ADV
asir-55155	113	33	demonstrate	demonstrate	VERB
asir-55155	113	34	higher	high	ADJ
asir-55155	113	35	profitability	profitability	NOUN
asir-55155	113	36	,	,	PUNCT
asir-55155	113	37	particularly	particularly	ADV
asir-55155	113	38	in	in	ADP
asir-55155	113	39	terms	term	NOUN
asir-55155	113	40	of	of	ADP
asir-55155	113	41	long	long	ADJ
asir-55155	113	42	-	-	PUNCT
asir-55155	113	43	term	term	NOUN
asir-55155	113	44	strategy	strategy	NOUN
asir-55155	113	45	and	and	CCONJ
asir-55155	113	46	operational	operational	ADJ
asir-55155	113	47	efficiency	efficiency	NOUN
asir-55155	113	48	.	.	PUNCT
asir-55155	114	1	among	among	ADP
asir-55155	114	2	the	the	DET
asir-55155	114	3	three	three	NUM
asir-55155	114	4	esg	esg	PROPN
asir-55155	114	5	dimensions	dimension	NOUN
asir-55155	114	6	,	,	PUNCT
asir-55155	114	7	governance	governance	NOUN
asir-55155	114	8	(	(	PUNCT
asir-55155	114	9	g	g	NOUN
asir-55155	114	10	)	)	PUNCT
asir-55155	114	11	has	have	VERB
asir-55155	114	12	the	the	DET
asir-55155	114	13	largest	large	ADJ
asir-55155	114	14	coefficient	coefficient	NOUN
asir-55155	114	15	and	and	CCONJ
asir-55155	114	16	passes	pass	VERB
asir-55155	114	17	the	the	DET
asir-55155	114	18	significance	significance	NOUN
asir-55155	114	19	test	test	NOUN
asir-55155	114	20	in	in	ADP
asir-55155	114	21	all	all	DET
asir-55155	114	22	models	model	NOUN
asir-55155	114	23	,	,	PUNCT
asir-55155	114	24	highlighting	highlight	VERB
asir-55155	114	25	its	its	PRON
asir-55155	114	26	dominant	dominant	ADJ
asir-55155	114	27	role	role	NOUN
asir-55155	114	28	in	in	ADP
asir-55155	114	29	influencing	influence	VERB
asir-55155	114	30	financial	financial	ADJ
asir-55155	114	31	performance	performance	NOUN
asir-55155	114	32	.	.	PUNCT
asir-55155	115	1	improvements	improvement	NOUN
asir-55155	115	2	in	in	ADP
asir-55155	115	3	governance	governance	NOUN
asir-55155	115	4	structures	structure	NOUN
asir-55155	115	5	,	,	PUNCT
asir-55155	115	6	such	such	ADJ
asir-55155	115	7	as	as	ADP
asir-55155	115	8	board	board	NOUN
asir-55155	115	9	independence	independence	NOUN
asir-55155	115	10	and	and	CCONJ
asir-55155	115	11	management	management	NOUN
asir-55155	115	12	transparency	transparency	NOUN
asir-55155	115	13	,	,	PUNCT
asir-55155	115	14	effectively	effectively	ADV
asir-55155	115	15	reduce	reduce	VERB
asir-55155	115	16	risks	risk	NOUN
asir-55155	115	17	and	and	CCONJ
asir-55155	115	18	enhance	enhance	VERB
asir-55155	115	19	financial	financial	ADJ
asir-55155	115	20	performance	performance	NOUN
asir-55155	115	21	.	.	PUNCT
asir-55155	116	1	the	the	DET
asir-55155	116	2	social	social	ADJ
asir-55155	116	3	(	(	PUNCT
asir-55155	116	4	s	s	NOUN
asir-55155	116	5	)	)	PUNCT
asir-55155	116	6	dimension	dimension	NOUN
asir-55155	116	7	also	also	ADV
asir-55155	116	8	shows	show	VERB
asir-55155	116	9	a	a	DET
asir-55155	116	10	significant	significant	ADJ
asir-55155	116	11	positive	positive	ADJ
asir-55155	116	12	effect	effect	NOUN
asir-55155	116	13	,	,	PUNCT
asir-55155	116	14	indicating	indicate	VERB
asir-55155	116	15	that	that	SCONJ
asir-55155	116	16	companies	company	NOUN
asir-55155	116	17	that	that	PRON
asir-55155	116	18	actively	actively	ADV
asir-55155	116	19	engage	engage	VERB
asir-55155	116	20	in	in	ADP
asir-55155	116	21	social	social	ADJ
asir-55155	116	22	responsibility	responsibility	NOUN
asir-55155	116	23	initiatives	initiative	NOUN
asir-55155	116	24	,	,	PUNCT
asir-55155	116	25	improving	improve	VERB
asir-55155	116	26	their	their	PRON
asir-55155	116	27	public	public	ADJ
asir-55155	116	28	image	image	NOUN
asir-55155	116	29	and	and	CCONJ
asir-55155	116	30	employee	employee	NOUN
asir-55155	116	31	loyalty	loyalty	NOUN
asir-55155	116	32	,	,	PUNCT
asir-55155	116	33	tend	tend	VERB
asir-55155	116	34	to	to	PART
asir-55155	116	35	achieve	achieve	VERB
asir-55155	116	36	better	well	ADJ
asir-55155	116	37	financial	financial	ADJ
asir-55155	116	38	returns	return	NOUN
asir-55155	116	39	.	.	PUNCT
asir-55155	117	1	the	the	DET
asir-55155	117	2	environmental	environmental	ADJ
asir-55155	117	3	(	(	PUNCT
asir-55155	117	4	e	e	NOUN
asir-55155	117	5	)	)	PUNCT
asir-55155	117	6	dimension	dimension	NOUN
asir-55155	117	7	shows	show	VERB
asir-55155	117	8	a	a	DET
asir-55155	117	9	relatively	relatively	ADV
asir-55155	117	10	weak	weak	ADJ
asir-55155	117	11	impact	impact	NOUN
asir-55155	117	12	,	,	PUNCT
asir-55155	117	13	with	with	ADP
asir-55155	117	14	smaller	small	ADJ
asir-55155	117	15	coefficients	coefficient	NOUN
asir-55155	117	16	in	in	ADP
asir-55155	117	17	some	some	DET
asir-55155	117	18	models	model	NOUN
asir-55155	117	19	.	.	PUNCT
asir-55155	118	1	although	although	SCONJ
asir-55155	118	2	it	it	PRON
asir-55155	118	3	passes	pass	VERB
asir-55155	118	4	significance	significance	NOUN
asir-55155	118	5	tests	test	NOUN
asir-55155	118	6	in	in	ADP
asir-55155	118	7	certain	certain	ADJ
asir-55155	118	8	cases	case	NOUN
asir-55155	118	9	,	,	PUNCT
asir-55155	118	10	the	the	DET
asir-55155	118	11	results	result	NOUN
asir-55155	118	12	suggest	suggest	VERB
asir-55155	118	13	that	that	SCONJ
asir-55155	118	14	environmental	environmental	ADJ
asir-55155	118	15	measures	measure	NOUN
asir-55155	118	16	may	may	AUX
asir-55155	118	17	have	have	VERB
asir-55155	118	18	a	a	DET
asir-55155	118	19	less	less	ADV
asir-55155	118	20	pronounced	pronounce	VERB
asir-55155	118	21	short	short	ADJ
asir-55155	118	22	-	-	PUNCT
asir-55155	118	23	term	term	NOUN
asir-55155	118	24	financial	financial	ADJ
asir-55155	118	25	effect	effect	NOUN
asir-55155	118	26	.	.	PUNCT
asir-55155	119	1	this	this	PRON
asir-55155	119	2	could	could	AUX
asir-55155	119	3	be	be	AUX
asir-55155	119	4	because	because	SCONJ
asir-55155	119	5	environmental	environmental	ADJ
asir-55155	119	6	investments	investment	NOUN
asir-55155	119	7	often	often	ADV
asir-55155	119	8	take	take	VERB
asir-55155	119	9	longer	long	ADJ
asir-55155	119	10	to	to	PART
asir-55155	119	11	yield	yield	VERB
asir-55155	119	12	positive	positive	ADJ
asir-55155	119	13	financial	financial	ADJ
asir-55155	119	14	outcomes	outcome	NOUN
asir-55155	119	15	.	.	PUNCT
asir-55155	120	1	www.scholink.org/ojs/index.php/asir	www.scholink.org/ojs/index.php/asir	PROPN
asir-55155	120	2	applied	apply	VERB
asir-55155	120	3	science	science	NOUN
asir-55155	120	4	and	and	CCONJ
asir-55155	120	5	innovative	innovative	ADJ
asir-55155	120	6	research	research	NOUN
asir-55155	120	7	vol	vol	NOUN
asir-55155	120	8	.	.	PROPN
asir-55155	121	1	8	8	NUM
asir-55155	121	2	,	,	PUNCT
asir-55155	121	3	no	no	INTJ
asir-55155	121	4	.	.	NOUN
asir-55155	121	5	4	4	NUM
asir-55155	121	6	,	,	PUNCT
asir-55155	121	7	2024	2024	NUM
asir-55155	121	8	56	56	NUM
asir-55155	121	9	published	publish	VERB
asir-55155	121	10	by	by	ADP
asir-55155	121	11	scholink	scholink	PROPN
asir-55155	121	12	inc	inc	PROPN
asir-55155	121	13	.	.	PROPN
asir-55155	121	14	control	control	PROPN
asir-55155	121	15	variables	variable	NOUN
asir-55155	121	16	such	such	ADJ
asir-55155	121	17	as	as	ADP
asir-55155	121	18	firm	firm	ADJ
asir-55155	121	19	size	size	NOUN
asir-55155	121	20	and	and	CCONJ
asir-55155	121	21	market	market	NOUN
asir-55155	121	22	share	share	NOUN
asir-55155	121	23	both	both	PRON
asir-55155	121	24	have	have	VERB
asir-55155	121	25	a	a	DET
asir-55155	121	26	significant	significant	ADJ
asir-55155	121	27	positive	positive	ADJ
asir-55155	121	28	influence	influence	NOUN
asir-55155	121	29	on	on	ADP
asir-55155	121	30	financial	financial	ADJ
asir-55155	121	31	performance	performance	NOUN
asir-55155	121	32	,	,	PUNCT
asir-55155	121	33	reinforcing	reinforce	VERB
asir-55155	121	34	the	the	DET
asir-55155	121	35	idea	idea	NOUN
asir-55155	121	36	that	that	SCONJ
asir-55155	121	37	larger	large	ADJ
asir-55155	121	38	firms	firm	NOUN
asir-55155	121	39	with	with	ADP
asir-55155	121	40	a	a	DET
asir-55155	121	41	competitive	competitive	ADJ
asir-55155	121	42	advantage	advantage	NOUN
asir-55155	121	43	in	in	ADP
asir-55155	121	44	the	the	DET
asir-55155	121	45	market	market	NOUN
asir-55155	121	46	tend	tend	VERB
asir-55155	121	47	to	to	PART
asir-55155	121	48	outperform	outperform	VERB
asir-55155	121	49	others	other	NOUN
asir-55155	121	50	in	in	ADP
asir-55155	121	51	both	both	DET
asir-55155	121	52	esg	esg	PROPN
asir-55155	121	53	and	and	CCONJ
asir-55155	121	54	financial	financial	ADJ
asir-55155	121	55	metrics	metric	NOUN
asir-55155	121	56	.	.	PUNCT
asir-55155	122	1	5.4	5.4	NUM
asir-55155	122	2	robustness	robustness	NOUN
asir-55155	122	3	tests	test	NOUN
asir-55155	122	4	to	to	PART
asir-55155	122	5	ensure	ensure	VERB
asir-55155	122	6	the	the	DET
asir-55155	122	7	robustness	robustness	NOUN
asir-55155	122	8	of	of	ADP
asir-55155	122	9	the	the	DET
asir-55155	122	10	model	model	NOUN
asir-55155	122	11	estimates	estimate	NOUN
asir-55155	122	12	,	,	PUNCT
asir-55155	122	13	this	this	DET
asir-55155	122	14	study	study	NOUN
asir-55155	122	15	conducted	conduct	VERB
asir-55155	122	16	a	a	DET
asir-55155	122	17	hausman	hausman	ADJ
asir-55155	122	18	test	test	NOUN
asir-55155	122	19	to	to	PART
asir-55155	122	20	compare	compare	VERB
asir-55155	122	21	the	the	DET
asir-55155	122	22	fixed	fix	VERB
asir-55155	122	23	-	-	PUNCT
asir-55155	122	24	effects	effect	NOUN
asir-55155	122	25	model	model	NOUN
asir-55155	122	26	(	(	PUNCT
asir-55155	122	27	fem	fem	PROPN
asir-55155	122	28	)	)	PUNCT
asir-55155	122	29	with	with	ADP
asir-55155	122	30	the	the	DET
asir-55155	122	31	random	random	ADJ
asir-55155	122	32	-	-	PUNCT
asir-55155	122	33	effects	effect	NOUN
asir-55155	122	34	model	model	NOUN
asir-55155	122	35	(	(	PUNCT
asir-55155	122	36	rem	rem	NOUN
asir-55155	122	37	)	)	PUNCT
asir-55155	122	38	.	.	PUNCT
asir-55155	123	1	the	the	DET
asir-55155	123	2	results	result	NOUN
asir-55155	123	3	of	of	ADP
asir-55155	123	4	the	the	DET
asir-55155	123	5	hausman	hausman	PROPN
asir-55155	123	6	test	test	NOUN
asir-55155	123	7	indicated	indicate	VERB
asir-55155	123	8	that	that	SCONJ
asir-55155	123	9	the	the	DET
asir-55155	123	10	fixed	fix	VERB
asir-55155	123	11	-	-	PUNCT
asir-55155	123	12	effects	effect	NOUN
asir-55155	123	13	model	model	NOUN
asir-55155	123	14	is	be	AUX
asir-55155	123	15	more	more	ADV
asir-55155	123	16	suitable	suitable	ADJ
asir-55155	123	17	for	for	ADP
asir-55155	123	18	the	the	DET
asir-55155	123	19	data	data	NOUN
asir-55155	123	20	structure	structure	NOUN
asir-55155	123	21	in	in	ADP
asir-55155	123	22	this	this	DET
asir-55155	123	23	study	study	NOUN
asir-55155	123	24	.	.	PUNCT
asir-55155	124	1	consequently	consequently	ADV
asir-55155	124	2	,	,	PUNCT
asir-55155	124	3	the	the	DET
asir-55155	124	4	fixed	fix	VERB
asir-55155	124	5	-	-	PUNCT
asir-55155	124	6	effects	effect	NOUN
asir-55155	124	7	model	model	NOUN
asir-55155	124	8	was	be	AUX
asir-55155	124	9	used	use	VERB
asir-55155	124	10	as	as	ADP
asir-55155	124	11	the	the	DET
asir-55155	124	12	primary	primary	ADJ
asir-55155	124	13	model	model	NOUN
asir-55155	124	14	for	for	ADP
asir-55155	124	15	interpretation	interpretation	NOUN
asir-55155	124	16	,	,	PUNCT
asir-55155	124	17	and	and	CCONJ
asir-55155	124	18	the	the	DET
asir-55155	124	19	results	result	NOUN
asir-55155	124	20	were	be	AUX
asir-55155	124	21	compared	compare	VERB
asir-55155	124	22	with	with	ADP
asir-55155	124	23	other	other	ADJ
asir-55155	124	24	supplementary	supplementary	ADJ
asir-55155	124	25	models	model	NOUN
asir-55155	124	26	to	to	PART
asir-55155	124	27	ensure	ensure	VERB
asir-55155	124	28	the	the	DET
asir-55155	124	29	robustness	robustness	NOUN
asir-55155	124	30	of	of	ADP
asir-55155	124	31	the	the	DET
asir-55155	124	32	conclusions	conclusion	NOUN
asir-55155	124	33	.	.	PUNCT
asir-55155	125	1	5.4.1	5.4.1	NUM
asir-55155	125	2	hausman	hausman	ADJ
asir-55155	125	3	test	test	NOUN
asir-55155	125	4	results	result	VERB
asir-55155	125	5	the	the	DET
asir-55155	125	6	hausman	hausman	ADJ
asir-55155	125	7	test	test	NOUN
asir-55155	125	8	was	be	AUX
asir-55155	125	9	applied	apply	VERB
asir-55155	125	10	to	to	PART
asir-55155	125	11	compare	compare	VERB
asir-55155	125	12	the	the	DET
asir-55155	125	13	fixed	fix	VERB
asir-55155	125	14	-	-	PUNCT
asir-55155	125	15	effects	effect	NOUN
asir-55155	125	16	and	and	CCONJ
asir-55155	125	17	random	random	ADJ
asir-55155	125	18	-	-	PUNCT
asir-55155	125	19	effects	effect	NOUN
asir-55155	125	20	models	model	NOUN
asir-55155	125	21	to	to	PART
asir-55155	125	22	determine	determine	VERB
asir-55155	125	23	which	which	PRON
asir-55155	125	24	is	be	AUX
asir-55155	125	25	better	well	ADV
asir-55155	125	26	suited	suited	ADJ
asir-55155	125	27	for	for	ADP
asir-55155	125	28	the	the	DET
asir-55155	125	29	data	datum	NOUN
asir-55155	125	30	.	.	PUNCT
asir-55155	126	1	according	accord	VERB
asir-55155	126	2	to	to	ADP
asir-55155	126	3	the	the	DET
asir-55155	126	4	hausman	hausman	ADJ
asir-55155	126	5	test	test	NOUN
asir-55155	126	6	result	result	NOUN
asir-55155	126	7	(	(	PUNCT
asir-55155	126	8	p	p	NOUN
asir-55155	126	9	-	-	PUNCT
asir-55155	126	10	value	value	NOUN
asir-55155	126	11	=	=	NOUN
asir-55155	126	12	0.014	0.014	NUM
asir-55155	126	13	)	)	PUNCT
asir-55155	126	14	,	,	PUNCT
asir-55155	126	15	we	we	PRON
asir-55155	126	16	reject	reject	VERB
asir-55155	126	17	the	the	DET
asir-55155	126	18	hypothesis	hypothesis	NOUN
asir-55155	126	19	that	that	SCONJ
asir-55155	126	20	the	the	DET
asir-55155	126	21	random	random	ADJ
asir-55155	126	22	-	-	PUNCT
asir-55155	126	23	effects	effect	NOUN
asir-55155	126	24	model	model	NOUN
asir-55155	126	25	is	be	AUX
asir-55155	126	26	more	more	ADV
asir-55155	126	27	appropriate	appropriate	ADJ
asir-55155	126	28	,	,	PUNCT
asir-55155	126	29	confirming	confirm	VERB
asir-55155	126	30	that	that	SCONJ
asir-55155	126	31	the	the	DET
asir-55155	126	32	fixed	fix	VERB
asir-55155	126	33	-	-	PUNCT
asir-55155	126	34	effects	effect	NOUN
asir-55155	126	35	model	model	NOUN
asir-55155	126	36	is	be	AUX
asir-55155	126	37	more	more	ADV
asir-55155	126	38	suitable	suitable	ADJ
asir-55155	126	39	for	for	ADP
asir-55155	126	40	this	this	DET
asir-55155	126	41	study	study	NOUN
asir-55155	126	42	's	's	PART
asir-55155	126	43	data	datum	NOUN
asir-55155	126	44	.	.	PUNCT
asir-55155	127	1	this	this	PRON
asir-55155	127	2	further	far	ADV
asir-55155	127	3	validates	validate	VERB
asir-55155	127	4	the	the	DET
asir-55155	127	5	applicability	applicability	NOUN
asir-55155	127	6	of	of	ADP
asir-55155	127	7	the	the	DET
asir-55155	127	8	fixed	fix	VERB
asir-55155	127	9	-	-	PUNCT
asir-55155	127	10	effects	effect	NOUN
asir-55155	127	11	model	model	NOUN
asir-55155	127	12	chosen	choose	VERB
asir-55155	127	13	for	for	ADP
asir-55155	127	14	the	the	DET
asir-55155	127	15	analysis	analysis	NOUN
asir-55155	127	16	.	.	PUNCT
asir-55155	128	1	5.4.2	5.4.2	NUM
asir-55155	128	2	robustness	robustness	NOUN
asir-55155	128	3	tests	test	NOUN
asir-55155	128	4	to	to	PART
asir-55155	128	5	further	far	ADV
asir-55155	128	6	verify	verify	VERB
asir-55155	128	7	the	the	DET
asir-55155	128	8	robustness	robustness	NOUN
asir-55155	128	9	of	of	ADP
asir-55155	128	10	the	the	DET
asir-55155	128	11	model	model	NOUN
asir-55155	128	12	,	,	PUNCT
asir-55155	128	13	several	several	ADJ
asir-55155	128	14	robustness	robustness	NOUN
asir-55155	128	15	tests	test	NOUN
asir-55155	128	16	were	be	AUX
asir-55155	128	17	conducted	conduct	VERB
asir-55155	128	18	,	,	PUNCT
asir-55155	128	19	including	include	VERB
asir-55155	128	20	tests	test	NOUN
asir-55155	128	21	for	for	ADP
asir-55155	128	22	heteroskedasticity	heteroskedasticity	NOUN
asir-55155	128	23	and	and	CCONJ
asir-55155	128	24	autocorrelation	autocorrelation	NOUN
asir-55155	128	25	.	.	PUNCT
asir-55155	129	1	the	the	DET
asir-55155	129	2	results	result	NOUN
asir-55155	129	3	are	be	AUX
asir-55155	129	4	as	as	SCONJ
asir-55155	129	5	follows	follow	VERB
asir-55155	129	6	:	:	PUNCT
asir-55155	129	7	heteroskedasticity	heteroskedasticity	NOUN
asir-55155	129	8	test	test	NOUN
asir-55155	129	9	(	(	PUNCT
asir-55155	129	10	using	use	VERB
asir-55155	129	11	breusch	breusch	ADJ
asir-55155	129	12	-	-	PUNCT
asir-55155	129	13	pagan	pagan	ADJ
asir-55155	129	14	test	test	NOUN
asir-55155	129	15	):	):	PUNCT
asir-55155	129	16	the	the	DET
asir-55155	129	17	test	test	NOUN
asir-55155	129	18	results	result	NOUN
asir-55155	129	19	indicate	indicate	VERB
asir-55155	129	20	that	that	DET
asir-55155	129	21	heteroskedasticity	heteroskedasticity	NOUN
asir-55155	129	22	is	be	AUX
asir-55155	129	23	present	present	ADJ
asir-55155	129	24	in	in	ADP
asir-55155	129	25	the	the	DET
asir-55155	129	26	data	datum	NOUN
asir-55155	129	27	.	.	PUNCT
asir-55155	130	1	therefore	therefore	ADV
asir-55155	130	2	,	,	PUNCT
asir-55155	130	3	heteroskedasticity	heteroskedasticity	NOUN
asir-55155	130	4	-	-	PUNCT
asir-55155	130	5	robust	robust	ADJ
asir-55155	130	6	standard	standard	ADJ
asir-55155	130	7	errors	error	NOUN
asir-55155	130	8	were	be	AUX
asir-55155	130	9	used	use	VERB
asir-55155	130	10	in	in	ADP
asir-55155	130	11	the	the	DET
asir-55155	130	12	regression	regression	NOUN
asir-55155	130	13	model	model	NOUN
asir-55155	130	14	to	to	PART
asir-55155	130	15	adjust	adjust	VERB
asir-55155	130	16	for	for	ADP
asir-55155	130	17	the	the	DET
asir-55155	130	18	impact	impact	NOUN
asir-55155	130	19	of	of	ADP
asir-55155	130	20	heteroskedasticity	heteroskedasticity	NOUN
asir-55155	130	21	on	on	ADP
asir-55155	130	22	the	the	DET
asir-55155	130	23	results	result	NOUN
asir-55155	130	24	.	.	PUNCT
asir-55155	131	1	autocorrelation	autocorrelation	NOUN
asir-55155	131	2	test	test	NOUN
asir-55155	131	3	(	(	PUNCT
asir-55155	131	4	using	use	VERB
asir-55155	131	5	durbin	durbin	ADJ
asir-55155	131	6	-	-	PUNCT
asir-55155	131	7	watson	watson	NOUN
asir-55155	131	8	test	test	NOUN
asir-55155	131	9	):	):	PUNCT
asir-55155	131	10	the	the	DET
asir-55155	131	11	results	result	NOUN
asir-55155	131	12	show	show	VERB
asir-55155	131	13	that	that	SCONJ
asir-55155	131	14	autocorrelation	autocorrelation	NOUN
asir-55155	131	15	is	be	AUX
asir-55155	131	16	not	not	PART
asir-55155	131	17	significant	significant	ADJ
asir-55155	131	18	,	,	PUNCT
asir-55155	131	19	meaning	mean	VERB
asir-55155	131	20	that	that	SCONJ
asir-55155	131	21	the	the	DET
asir-55155	131	22	autocorrelation	autocorrelation	NOUN
asir-55155	131	23	in	in	ADP
asir-55155	131	24	the	the	DET
asir-55155	131	25	regression	regression	NOUN
asir-55155	131	26	model	model	NOUN
asir-55155	131	27	is	be	AUX
asir-55155	131	28	within	within	ADP
asir-55155	131	29	an	an	DET
asir-55155	131	30	acceptable	acceptable	ADJ
asir-55155	131	31	range	range	NOUN
asir-55155	131	32	.	.	PUNCT
asir-55155	132	1	additionally	additionally	ADV
asir-55155	132	2	,	,	PUNCT
asir-55155	132	3	we	we	PRON
asir-55155	132	4	conducted	conduct	VERB
asir-55155	132	5	regressions	regression	NOUN
asir-55155	132	6	for	for	ADP
asir-55155	132	7	different	different	ADJ
asir-55155	132	8	sample	sample	NOUN
asir-55155	132	9	periods	period	NOUN
asir-55155	132	10	(	(	PUNCT
asir-55155	132	11	such	such	ADJ
asir-55155	132	12	as	as	SCONJ
asir-55155	132	13	segmented	segment	VERB
asir-55155	132	14	by	by	ADP
asir-55155	132	15	year	year	NOUN
asir-55155	132	16	)	)	PUNCT
asir-55155	132	17	and	and	CCONJ
asir-55155	132	18	sub	sub	NOUN
asir-55155	132	19	-	-	NOUN
asir-55155	132	20	samples	sample	NOUN
asir-55155	132	21	(	(	PUNCT
asir-55155	132	22	such	such	ADJ
asir-55155	132	23	as	as	ADP
asir-55155	132	24	large	large	ADJ
asir-55155	132	25	,	,	PUNCT
asir-55155	132	26	medium	medium	ADJ
asir-55155	132	27	,	,	PUNCT
asir-55155	132	28	and	and	CCONJ
asir-55155	132	29	small	small	ADJ
asir-55155	132	30	enterprises	enterprise	NOUN
asir-55155	132	31	)	)	PUNCT
asir-55155	132	32	to	to	PART
asir-55155	132	33	check	check	VERB
asir-55155	132	34	the	the	DET
asir-55155	132	35	stability	stability	NOUN
asir-55155	132	36	of	of	ADP
asir-55155	132	37	the	the	DET
asir-55155	132	38	model	model	NOUN
asir-55155	132	39	results	result	NOUN
asir-55155	132	40	.	.	PUNCT
asir-55155	133	1	the	the	DET
asir-55155	133	2	findings	finding	NOUN
asir-55155	133	3	demonstrate	demonstrate	VERB
asir-55155	133	4	that	that	SCONJ
asir-55155	133	5	the	the	DET
asir-55155	133	6	impact	impact	NOUN
asir-55155	133	7	of	of	ADP
asir-55155	133	8	esg	esg	PROPN
asir-55155	133	9	on	on	ADP
asir-55155	133	10	financial	financial	ADJ
asir-55155	133	11	performance	performance	NOUN
asir-55155	133	12	remains	remain	VERB
asir-55155	133	13	consistent	consistent	ADJ
asir-55155	133	14	across	across	ADP
asir-55155	133	15	different	different	ADJ
asir-55155	133	16	time	time	NOUN
asir-55155	133	17	periods	period	NOUN
asir-55155	133	18	and	and	CCONJ
asir-55155	133	19	sample	sample	NOUN
asir-55155	133	20	groups	group	NOUN
asir-55155	133	21	,	,	PUNCT
asir-55155	133	22	further	far	ADV
asir-55155	133	23	supporting	support	VERB
asir-55155	133	24	the	the	DET
asir-55155	133	25	main	main	ADJ
asir-55155	133	26	conclusions	conclusion	NOUN
asir-55155	133	27	of	of	ADP
asir-55155	133	28	this	this	DET
asir-55155	133	29	study	study	NOUN
asir-55155	133	30	.	.	PUNCT
asir-55155	134	1	5.5	5.5	NUM
asir-55155	134	2	results	result	VERB
asir-55155	134	3	analysis	analysis	NOUN
asir-55155	134	4	to	to	PART
asir-55155	134	5	present	present	VERB
asir-55155	134	6	the	the	DET
asir-55155	134	7	results	result	NOUN
asir-55155	134	8	of	of	ADP
asir-55155	134	9	the	the	DET
asir-55155	134	10	regression	regression	NOUN
asir-55155	134	11	analysis	analysis	NOUN
asir-55155	134	12	clearly	clearly	ADV
asir-55155	134	13	,	,	PUNCT
asir-55155	134	14	the	the	DET
asir-55155	134	15	following	follow	VERB
asir-55155	134	16	tables	table	NOUN
asir-55155	134	17	show	show	VERB
asir-55155	134	18	the	the	DET
asir-55155	134	19	regression	regression	NOUN
asir-55155	134	20	coefficients	coefficient	NOUN
asir-55155	134	21	,	,	PUNCT
asir-55155	134	22	standard	standard	ADJ
asir-55155	134	23	errors	error	NOUN
asir-55155	134	24	,	,	PUNCT
asir-55155	134	25	t	t	NOUN
asir-55155	134	26	-	-	PUNCT
asir-55155	134	27	values	value	NOUN
asir-55155	134	28	,	,	PUNCT
asir-55155	134	29	and	and	CCONJ
asir-55155	134	30	significance	significance	NOUN
asir-55155	134	31	levels	level	NOUN
asir-55155	134	32	for	for	ADP
asir-55155	134	33	each	each	DET
asir-55155	134	34	model	model	NOUN
asir-55155	134	35	:	:	PUNCT
asir-55155	134	36	table	table	NOUN
asir-55155	134	37	4	4	NUM
asir-55155	134	38	.	.	PUNCT
asir-55155	134	39	fixed	fix	VERB
asir-55155	134	40	effects	effect	NOUN
asir-55155	134	41	model	model	NOUN
asir-55155	134	42	regression	regression	NOUN
asir-55155	134	43	results	result	NOUN
asir-55155	134	44	(	(	PUNCT
asir-55155	134	45	roa	roa	NOUN
asir-55155	134	46	)	)	PUNCT
asir-55155	134	47	variable	variable	ADJ
asir-55155	134	48	coefficient	coefficient	NOUN
asir-55155	134	49	standard	standard	ADJ
asir-55155	134	50	error	error	NOUN
asir-55155	134	51	t	t	NOUN
asir-55155	134	52	-	-	PUNCT
asir-55155	134	53	value	value	NOUN
asir-55155	134	54	p	p	NOUN
asir-55155	134	55	-	-	PUNCT
asir-55155	134	56	value	value	NOUN
asir-55155	134	57	esg	esg	NOUN
asir-55155	134	58	0.123	0.123	NUM
asir-55155	134	59	*	*	PUNCT
asir-55155	134	60	*	*	PUNCT
asir-55155	134	61	0.042	0.042	NUM
asir-55155	134	62	2.93	2.93	NUM
asir-55155	134	63	0.004	0.004	NUM
asir-55155	134	64	e	e	NOUN
asir-55155	134	65	0.034	0.034	NUM
asir-55155	134	66	*	*	NUM
asir-55155	134	67	0.019	0.019	NUM
asir-55155	134	68	1.79	1.79	NUM
asir-55155	134	69	0.076	0.076	NUM
asir-55155	134	70	s	s	PART
asir-55155	134	71	0.067	0.067	NUM
asir-55155	134	72	*	*	NOUN
asir-55155	134	73	*	*	PUNCT
asir-55155	134	74	0.025	0.025	NUM
asir-55155	134	75	2.68	2.68	NUM
asir-55155	134	76	0.008	0.008	NUM
asir-55155	134	77	www.scholink.org/ojs/index.php/asir	www.scholink.org/ojs/index.php/asir	NOUN
asir-55155	134	78	applied	apply	VERB
asir-55155	134	79	science	science	NOUN
asir-55155	134	80	and	and	CCONJ
asir-55155	134	81	innovative	innovative	ADJ
asir-55155	134	82	research	research	NOUN
asir-55155	134	83	vol	vol	NOUN
asir-55155	134	84	.	.	PROPN
asir-55155	135	1	8	8	NUM
asir-55155	135	2	,	,	PUNCT
asir-55155	135	3	no	no	INTJ
asir-55155	135	4	.	.	NOUN
asir-55155	135	5	4	4	NUM
asir-55155	135	6	,	,	PUNCT
asir-55155	135	7	2024	2024	NUM
asir-55155	135	8	57	57	NUM
asir-55155	135	9	published	publish	VERB
asir-55155	135	10	by	by	ADP
asir-55155	135	11	scholink	scholink	PROPN
asir-55155	135	12	inc	inc	PROPN
asir-55155	135	13	.	.	PROPN
asir-55155	136	1	g	g	ADP
asir-55155	136	2	0.089	0.089	NUM
asir-55155	136	3	*	*	PUNCT
asir-55155	136	4	*	*	PUNCT
asir-55155	136	5	0.030	0.030	NUM
asir-55155	136	6	2.97	2.97	NUM
asir-55155	136	7	0.003	0.003	NUM
asir-55155	136	8	firm	firm	ADJ
asir-55155	136	9	size	size	NOUN
asir-55155	136	10	0.045	0.045	NUM
asir-55155	136	11	*	*	PUNCT
asir-55155	136	12	*	*	PUNCT
asir-55155	136	13	0.014	0.014	NUM
asir-55155	136	14	3.21	3.21	NUM
asir-55155	136	15	0.002	0.002	NUM
asir-55155	136	16	market	market	NOUN
asir-55155	136	17	share	share	NOUN
asir-55155	136	18	0.056	0.056	NUM
asir-55155	136	19	*	*	NOUN
asir-55155	136	20	*	*	PROPN
asir-55155	136	21	0.017	0.017	NUM
asir-55155	136	22	3.29	3.29	NUM
asir-55155	136	23	0.001	0.001	NUM
asir-55155	136	24	constant	constant	ADJ
asir-55155	136	25	2.567	2.567	NUM
asir-55155	136	26	*	*	NOUN
asir-55155	136	27	*	*	PUNCT
asir-55155	136	28	0.780	0.780	NUM
asir-55155	136	29	3.29	3.29	NUM
asir-55155	136	30	0.001	0.001	NUM
asir-55155	136	31	r²	r²	NOUN
asir-55155	136	32	0.748	0.748	NUM
asir-55155	136	33	table	table	NOUN
asir-55155	136	34	5	5	NUM
asir-55155	136	35	.	.	PUNCT
asir-55155	136	36	fixed	fix	VERB
asir-55155	136	37	effects	effect	NOUN
asir-55155	136	38	model	model	NOUN
asir-55155	136	39	regression	regression	NOUN
asir-55155	136	40	results	result	NOUN
asir-55155	136	41	(	(	PUNCT
asir-55155	136	42	npm	npm	NOUN
asir-55155	136	43	)	)	PUNCT
asir-55155	136	44	variable	variable	ADJ
asir-55155	136	45	coefficient	coefficient	NOUN
asir-55155	136	46	standard	standard	ADJ
asir-55155	136	47	error	error	NOUN
asir-55155	136	48	t	t	NOUN
asir-55155	136	49	-	-	PUNCT
asir-55155	136	50	value	value	NOUN
asir-55155	136	51	p	p	NOUN
asir-55155	136	52	-	-	PUNCT
asir-55155	136	53	value	value	NOUN
asir-55155	136	54	esg	esg	NOUN
asir-55155	136	55	0.087	0.087	NUM
asir-55155	136	56	*	*	PROPN
asir-55155	136	57	0.045	0.045	NUM
asir-55155	136	58	1.93	1.93	NUM
asir-55155	136	59	0.055	0.055	NUM
asir-55155	136	60	e	e	NOUN
asir-55155	136	61	0.028	0.028	NUM
asir-55155	136	62	*	*	SYM
asir-55155	136	63	0.022	0.022	NUM
asir-55155	136	64	1.27	1.27	NUM
asir-55155	136	65	0.209	0.209	NUM
asir-55155	136	66	s	s	PART
asir-55155	136	67	0.054	0.054	NUM
asir-55155	136	68	*	*	PUNCT
asir-55155	136	69	*	*	PUNCT
asir-55155	136	70	0.027	0.027	NUM
asir-55155	136	71	2.00	2.00	NUM
asir-55155	136	72	0.048	0.048	NUM
asir-55155	136	73	g	g	ADP
asir-55155	136	74	0.074	0.074	NUM
asir-55155	136	75	*	*	PUNCT
asir-55155	136	76	*	*	PUNCT
asir-55155	137	1	0.031	0.031	NUM
asir-55155	137	2	2.39	2.39	NUM
asir-55155	137	3	0.019	0.019	NUM
asir-55155	137	4	firm	firm	ADJ
asir-55155	137	5	size	size	NOUN
asir-55155	137	6	0.041	0.041	NUM
asir-55155	137	7	*	*	PUNCT
asir-55155	137	8	*	*	PROPN
asir-55155	137	9	0.016	0.016	NUM
asir-55155	137	10	2.56	2.56	NUM
asir-55155	137	11	0.012	0.012	NUM
asir-55155	137	12	market	market	NOUN
asir-55155	137	13	share	share	NOUN
asir-55155	137	14	0.053	0.053	NUM
asir-55155	137	15	*	*	PUNCT
asir-55155	137	16	*	*	PUNCT
asir-55155	137	17	0.019	0.019	NUM
asir-55155	137	18	2.79	2.79	NUM
asir-55155	137	19	0.007	0.007	NUM
asir-55155	137	20	constant	constant	ADJ
asir-55155	137	21	3.214	3.214	NUM
asir-55155	137	22	*	*	NOUN
asir-55155	137	23	*	*	PUNCT
asir-55155	137	24	0.834	0.834	NUM
asir-55155	137	25	3.85	3.85	NUM
asir-55155	137	26	0.000	0.000	NUM
asir-55155	137	27	r²	r²	NOUN
asir-55155	137	28	0.721	0.721	NUM
asir-55155	137	29	from	from	ADP
asir-55155	137	30	the	the	DET
asir-55155	137	31	above	above	ADJ
asir-55155	137	32	regression	regression	NOUN
asir-55155	137	33	analysis	analysis	NOUN
asir-55155	137	34	results	result	NOUN
asir-55155	137	35	,	,	PUNCT
asir-55155	137	36	the	the	DET
asir-55155	137	37	following	follow	VERB
asir-55155	137	38	key	key	ADJ
asir-55155	137	39	points	point	NOUN
asir-55155	137	40	can	can	AUX
asir-55155	137	41	be	be	AUX
asir-55155	137	42	summarized	summarize	VERB
asir-55155	137	43	:	:	PUNCT
asir-55155	137	44	positive	positive	ADJ
asir-55155	137	45	impact	impact	NOUN
asir-55155	137	46	of	of	ADP
asir-55155	137	47	esg	esg	NOUN
asir-55155	137	48	performance	performance	NOUN
asir-55155	137	49	on	on	ADP
asir-55155	137	50	financial	financial	ADJ
asir-55155	137	51	performance	performance	NOUN
asir-55155	137	52	:	:	PUNCT
asir-55155	137	53	this	this	DET
asir-55155	137	54	study	study	NOUN
asir-55155	137	55	confirms	confirm	VERB
asir-55155	137	56	that	that	SCONJ
asir-55155	137	57	higher	high	ADJ
asir-55155	137	58	esg	esg	PROPN
asir-55155	137	59	performance	performance	NOUN
asir-55155	137	60	significantly	significantly	ADV
asir-55155	137	61	enhances	enhance	VERB
asir-55155	137	62	a	a	DET
asir-55155	137	63	company	company	NOUN
asir-55155	137	64	’s	’s	PART
asir-55155	137	65	roa	roa	PROPN
asir-55155	137	66	and	and	CCONJ
asir-55155	137	67	npm	npm	PROPN
asir-55155	137	68	.	.	PUNCT
asir-55155	138	1	in	in	ADP
asir-55155	138	2	particular	particular	ADJ
asir-55155	138	3	,	,	PUNCT
asir-55155	138	4	the	the	DET
asir-55155	138	5	governance	governance	NOUN
asir-55155	138	6	(	(	PUNCT
asir-55155	138	7	g	g	NOUN
asir-55155	138	8	)	)	PUNCT
asir-55155	138	9	dimension	dimension	NOUN
asir-55155	138	10	has	have	VERB
asir-55155	138	11	the	the	DET
asir-55155	138	12	most	most	ADV
asir-55155	138	13	significant	significant	ADJ
asir-55155	138	14	impact	impact	NOUN
asir-55155	138	15	on	on	ADP
asir-55155	138	16	financial	financial	ADJ
asir-55155	138	17	performance	performance	NOUN
asir-55155	138	18	,	,	PUNCT
asir-55155	138	19	indicating	indicate	VERB
asir-55155	138	20	that	that	SCONJ
asir-55155	138	21	good	good	ADJ
asir-55155	138	22	governance	governance	NOUN
asir-55155	138	23	structures	structure	NOUN
asir-55155	138	24	contribute	contribute	VERB
asir-55155	138	25	to	to	ADP
asir-55155	138	26	higher	high	ADJ
asir-55155	138	27	financial	financial	ADJ
asir-55155	138	28	returns	return	NOUN
asir-55155	138	29	.	.	PUNCT
asir-55155	139	1	financial	financial	ADJ
asir-55155	139	2	benefits	benefit	NOUN
asir-55155	139	3	of	of	ADP
asir-55155	139	4	social	social	ADJ
asir-55155	139	5	responsibility	responsibility	NOUN
asir-55155	139	6	:	:	PUNCT
asir-55155	139	7	a	a	DET
asir-55155	139	8	high	high	ADJ
asir-55155	139	9	rating	rating	NOUN
asir-55155	139	10	in	in	ADP
asir-55155	139	11	the	the	DET
asir-55155	139	12	social	social	ADJ
asir-55155	139	13	(	(	PUNCT
asir-55155	139	14	s	s	NOUN
asir-55155	139	15	)	)	PUNCT
asir-55155	139	16	dimension	dimension	NOUN
asir-55155	139	17	also	also	ADV
asir-55155	139	18	positively	positively	ADV
asir-55155	139	19	affects	affect	VERB
asir-55155	139	20	financial	financial	ADJ
asir-55155	139	21	performance	performance	NOUN
asir-55155	139	22	,	,	PUNCT
asir-55155	139	23	suggesting	suggest	VERB
asir-55155	139	24	that	that	SCONJ
asir-55155	139	25	actively	actively	ADV
asir-55155	139	26	fulfilling	fulfil	VERB
asir-55155	139	27	social	social	ADJ
asir-55155	139	28	responsibilities	responsibility	NOUN
asir-55155	139	29	can	can	AUX
asir-55155	139	30	enhance	enhance	VERB
asir-55155	139	31	brand	brand	NOUN
asir-55155	139	32	image	image	NOUN
asir-55155	139	33	and	and	CCONJ
asir-55155	139	34	market	market	NOUN
asir-55155	139	35	competitiveness	competitiveness	NOUN
asir-55155	139	36	,	,	PUNCT
asir-55155	139	37	thereby	thereby	ADV
asir-55155	139	38	improving	improve	VERB
asir-55155	139	39	financial	financial	ADJ
asir-55155	139	40	returns	return	NOUN
asir-55155	139	41	.	.	PUNCT
asir-55155	140	1	short	short	ADJ
asir-55155	140	2	-	-	PUNCT
asir-55155	140	3	term	term	NOUN
asir-55155	140	4	effects	effect	NOUN
asir-55155	140	5	of	of	ADP
asir-55155	140	6	environmental	environmental	ADJ
asir-55155	140	7	responsibility	responsibility	NOUN
asir-55155	140	8	:	:	PUNCT
asir-55155	140	9	the	the	DET
asir-55155	140	10	impact	impact	NOUN
asir-55155	140	11	of	of	ADP
asir-55155	140	12	the	the	DET
asir-55155	140	13	environmental	environmental	ADJ
asir-55155	140	14	(	(	PUNCT
asir-55155	140	15	e	e	NOUN
asir-55155	140	16	)	)	PUNCT
asir-55155	140	17	dimension	dimension	NOUN
asir-55155	140	18	is	be	AUX
asir-55155	140	19	less	less	ADV
asir-55155	140	20	pronounced	pronounce	VERB
asir-55155	140	21	in	in	ADP
asir-55155	140	22	the	the	DET
asir-55155	140	23	short	short	ADJ
asir-55155	140	24	term	term	NOUN
asir-55155	140	25	compared	compare	VERB
asir-55155	140	26	to	to	ADP
asir-55155	140	27	governance	governance	NOUN
asir-55155	140	28	and	and	CCONJ
asir-55155	140	29	social	social	ADJ
asir-55155	140	30	dimensions	dimension	NOUN
asir-55155	140	31	.	.	PUNCT
asir-55155	141	1	this	this	PRON
asir-55155	141	2	may	may	AUX
asir-55155	141	3	be	be	AUX
asir-55155	141	4	because	because	SCONJ
asir-55155	141	5	environmental	environmental	ADJ
asir-55155	141	6	investments	investment	NOUN
asir-55155	141	7	often	often	ADV
asir-55155	141	8	require	require	VERB
asir-55155	141	9	a	a	DET
asir-55155	141	10	longer	long	ADJ
asir-55155	141	11	period	period	NOUN
asir-55155	141	12	to	to	PART
asir-55155	141	13	manifest	manifest	VERB
asir-55155	141	14	their	their	PRON
asir-55155	141	15	benefits	benefit	NOUN
asir-55155	141	16	on	on	ADP
asir-55155	141	17	financial	financial	ADJ
asir-55155	141	18	performance	performance	NOUN
asir-55155	141	19	.	.	PUNCT
asir-55155	142	1	however	however	ADV
asir-55155	142	2	,	,	PUNCT
asir-55155	142	3	this	this	PRON
asir-55155	142	4	does	do	AUX
asir-55155	142	5	not	not	PART
asir-55155	142	6	imply	imply	VERB
asir-55155	142	7	that	that	SCONJ
asir-55155	142	8	environmental	environmental	ADJ
asir-55155	142	9	responsibility	responsibility	NOUN
asir-55155	142	10	is	be	AUX
asir-55155	142	11	unimportant	unimportant	ADJ
asir-55155	142	12	;	;	PUNCT
asir-55155	142	13	companies	company	NOUN
asir-55155	142	14	should	should	AUX
asir-55155	142	15	continue	continue	VERB
asir-55155	142	16	to	to	PART
asir-55155	142	17	focus	focus	VERB
asir-55155	142	18	on	on	ADP
asir-55155	142	19	environmental	environmental	ADJ
asir-55155	142	20	measures	measure	NOUN
asir-55155	142	21	and	and	CCONJ
asir-55155	142	22	integrate	integrate	VERB
asir-55155	142	23	them	they	PRON
asir-55155	142	24	into	into	ADP
asir-55155	142	25	long	long	ADJ
asir-55155	142	26	-	-	PUNCT
asir-55155	142	27	term	term	NOUN
asir-55155	142	28	strategies	strategy	NOUN
asir-55155	142	29	.	.	PUNCT
asir-55155	143	1	role	role	NOUN
asir-55155	143	2	of	of	ADP
asir-55155	143	3	firm	firm	ADJ
asir-55155	143	4	size	size	NOUN
asir-55155	143	5	and	and	CCONJ
asir-55155	143	6	market	market	NOUN
asir-55155	143	7	share	share	NOUN
asir-55155	143	8	:	:	PUNCT
asir-55155	143	9	larger	large	ADJ
asir-55155	143	10	firm	firm	ADJ
asir-55155	143	11	size	size	NOUN
asir-55155	143	12	and	and	CCONJ
asir-55155	143	13	higher	high	ADJ
asir-55155	143	14	market	market	NOUN
asir-55155	143	15	share	share	NOUN
asir-55155	143	16	have	have	VERB
asir-55155	143	17	a	a	DET
asir-55155	143	18	significant	significant	ADJ
asir-55155	143	19	positive	positive	ADJ
asir-55155	143	20	impact	impact	NOUN
asir-55155	143	21	on	on	ADP
asir-55155	143	22	financial	financial	ADJ
asir-55155	143	23	performance	performance	NOUN
asir-55155	143	24	,	,	PUNCT
asir-55155	143	25	indicating	indicate	VERB
asir-55155	143	26	that	that	SCONJ
asir-55155	143	27	companies	company	NOUN
asir-55155	143	28	with	with	ADP
asir-55155	143	29	more	more	ADJ
asir-55155	143	30	resources	resource	NOUN
asir-55155	143	31	and	and	CCONJ
asir-55155	143	32	competitive	competitive	ADJ
asir-55155	143	33	advantages	advantage	NOUN
asir-55155	143	34	can	can	AUX
asir-55155	143	35	achieve	achieve	VERB
asir-55155	143	36	better	well	ADJ
asir-55155	143	37	financial	financial	ADJ
asir-55155	143	38	returns	return	NOUN
asir-55155	143	39	.	.	PUNCT
asir-55155	144	1	in	in	ADP
asir-55155	144	2	summary	summary	NOUN
asir-55155	144	3	,	,	PUNCT
asir-55155	144	4	the	the	DET
asir-55155	144	5	empirical	empirical	ADJ
asir-55155	144	6	analysis	analysis	NOUN
asir-55155	144	7	results	result	NOUN
asir-55155	144	8	support	support	VERB
asir-55155	144	9	the	the	DET
asir-55155	144	10	positive	positive	ADJ
asir-55155	144	11	impact	impact	NOUN
asir-55155	144	12	of	of	ADP
asir-55155	144	13	esg	esg	NOUN
asir-55155	144	14	performance	performance	NOUN
asir-55155	144	15	on	on	ADP
asir-55155	144	16	financial	financial	ADJ
asir-55155	144	17	performance	performance	NOUN
asir-55155	144	18	,	,	PUNCT
asir-55155	144	19	particularly	particularly	ADV
asir-55155	144	20	in	in	ADP
asir-55155	144	21	the	the	DET
asir-55155	144	22	governance	governance	NOUN
asir-55155	144	23	and	and	CCONJ
asir-55155	144	24	social	social	ADJ
asir-55155	144	25	responsibility	responsibility	NOUN
asir-55155	144	26	dimensions	dimension	NOUN
asir-55155	144	27	.	.	PUNCT
asir-55155	145	1	this	this	PRON
asir-55155	145	2	provides	provide	VERB
asir-55155	145	3	strong	strong	ADJ
asir-55155	145	4	www.scholink.org/ojs/index.php/asir	www.scholink.org/ojs/index.php/asir	NOUN
asir-55155	145	5	applied	apply	VERB
asir-55155	145	6	science	science	NOUN
asir-55155	145	7	and	and	CCONJ
asir-55155	145	8	innovative	innovative	ADJ
asir-55155	145	9	research	research	NOUN
asir-55155	145	10	vol	vol	NOUN
asir-55155	145	11	.	.	PROPN
asir-55155	146	1	8	8	NUM
asir-55155	146	2	,	,	PUNCT
asir-55155	146	3	no	no	INTJ
asir-55155	146	4	.	.	NOUN
asir-55155	146	5	4	4	NUM
asir-55155	146	6	,	,	PUNCT
asir-55155	146	7	2024	2024	NUM
asir-55155	146	8	58	58	NUM
asir-55155	146	9	published	publish	VERB
asir-55155	146	10	by	by	ADP
asir-55155	146	11	scholink	scholink	PROPN
asir-55155	146	12	inc	inc	PROPN
asir-55155	146	13	.	.	PROPN
asir-55155	146	14	evidence	evidence	NOUN
asir-55155	146	15	for	for	ADP
asir-55155	146	16	companies	company	NOUN
asir-55155	146	17	in	in	ADP
asir-55155	146	18	formulating	formulate	VERB
asir-55155	146	19	esg	esg	NOUN
asir-55155	146	20	strategies	strategy	NOUN
asir-55155	146	21	,	,	PUNCT
asir-55155	146	22	indicating	indicate	VERB
asir-55155	146	23	that	that	SCONJ
asir-55155	146	24	good	good	ADJ
asir-55155	146	25	esg	esg	PROPN
asir-55155	146	26	performance	performance	NOUN
asir-55155	146	27	can	can	AUX
asir-55155	146	28	lead	lead	VERB
asir-55155	146	29	to	to	ADP
asir-55155	146	30	long	long	ADJ
asir-55155	146	31	-	-	PUNCT
asir-55155	146	32	term	term	NOUN
asir-55155	146	33	financial	financial	ADJ
asir-55155	146	34	benefits	benefit	NOUN
asir-55155	146	35	.	.	PUNCT
asir-55155	147	1	6	6	X
asir-55155	147	2	.	.	X
asir-55155	147	3	discussion	discussion	NOUN
asir-55155	147	4	of	of	ADP
asir-55155	147	5	research	research	NOUN
asir-55155	147	6	results	result	VERB
asir-55155	147	7	6.1	6.1	NUM
asir-55155	147	8	research	research	NOUN
asir-55155	147	9	conclusions	conclusion	NOUN
asir-55155	147	10	this	this	DET
asir-55155	147	11	study	study	NOUN
asir-55155	147	12	,	,	PUNCT
asir-55155	147	13	through	through	ADP
asir-55155	147	14	empirical	empirical	ADJ
asir-55155	147	15	analysis	analysis	NOUN
asir-55155	147	16	of	of	ADP
asir-55155	147	17	china	china	PROPN
asir-55155	147	18	's	's	PART
asir-55155	147	19	high	high	ADJ
asir-55155	147	20	-	-	PUNCT
asir-55155	147	21	tech	tech	NOUN
asir-55155	147	22	and	and	CCONJ
asir-55155	147	23	internet	internet	NOUN
asir-55155	147	24	industries	industry	NOUN
asir-55155	147	25	,	,	PUNCT
asir-55155	147	26	finds	find	VERB
asir-55155	147	27	a	a	DET
asir-55155	147	28	significant	significant	ADJ
asir-55155	147	29	positive	positive	ADJ
asir-55155	147	30	correlation	correlation	NOUN
asir-55155	147	31	between	between	ADP
asir-55155	147	32	esg	esg	NOUN
asir-55155	147	33	performance	performance	NOUN
asir-55155	147	34	and	and	CCONJ
asir-55155	147	35	corporate	corporate	ADJ
asir-55155	147	36	financial	financial	ADJ
asir-55155	147	37	performance	performance	NOUN
asir-55155	147	38	.	.	PUNCT
asir-55155	148	1	the	the	DET
asir-55155	148	2	specific	specific	ADJ
asir-55155	148	3	conclusions	conclusion	NOUN
asir-55155	148	4	are	be	AUX
asir-55155	148	5	as	as	SCONJ
asir-55155	148	6	follows	follow	VERB
asir-55155	148	7	:	:	PUNCT
asir-55155	148	8	overall	overall	ADJ
asir-55155	148	9	esg	esg	PROPN
asir-55155	148	10	score	score	NOUN
asir-55155	148	11	and	and	CCONJ
asir-55155	148	12	financial	financial	ADJ
asir-55155	148	13	performance	performance	NOUN
asir-55155	148	14	:	:	PUNCT
asir-55155	148	15	the	the	DET
asir-55155	148	16	overall	overall	ADJ
asir-55155	148	17	esg	esg	PROPN
asir-55155	148	18	score	score	NOUN
asir-55155	148	19	has	have	VERB
asir-55155	148	20	a	a	DET
asir-55155	148	21	significant	significant	ADJ
asir-55155	148	22	positive	positive	ADJ
asir-55155	148	23	impact	impact	NOUN
asir-55155	148	24	on	on	ADP
asir-55155	148	25	both	both	DET
asir-55155	148	26	return	return	NOUN
asir-55155	148	27	on	on	ADP
asir-55155	148	28	assets	asset	NOUN
asir-55155	148	29	(	(	PUNCT
asir-55155	148	30	roa	roa	NOUN
asir-55155	148	31	)	)	PUNCT
asir-55155	148	32	and	and	CCONJ
asir-55155	148	33	net	net	ADJ
asir-55155	148	34	profit	profit	NOUN
asir-55155	148	35	margin	margin	NOUN
asir-55155	148	36	(	(	PUNCT
asir-55155	148	37	npm	npm	PROPN
asir-55155	148	38	)	)	PUNCT
asir-55155	148	39	,	,	PUNCT
asir-55155	148	40	with	with	ADP
asir-55155	148	41	the	the	DET
asir-55155	148	42	"	"	PUNCT
asir-55155	148	43	governance	governance	NOUN
asir-55155	148	44	"	"	PUNCT
asir-55155	148	45	(	(	PUNCT
asir-55155	148	46	g	g	NOUN
asir-55155	148	47	)	)	PUNCT
asir-55155	148	48	dimension	dimension	NOUN
asir-55155	148	49	being	be	AUX
asir-55155	148	50	the	the	DET
asir-55155	148	51	most	most	ADV
asir-55155	148	52	prominent	prominent	ADJ
asir-55155	148	53	.	.	PUNCT
asir-55155	149	1	this	this	PRON
asir-55155	149	2	indicates	indicate	VERB
asir-55155	149	3	that	that	SCONJ
asir-55155	149	4	higher	high	ADJ
asir-55155	149	5	esg	esg	PROPN
asir-55155	149	6	scores	score	NOUN
asir-55155	149	7	significantly	significantly	ADV
asir-55155	149	8	enhance	enhance	VERB
asir-55155	149	9	financial	financial	ADJ
asir-55155	149	10	performance	performance	NOUN
asir-55155	149	11	.	.	PUNCT
asir-55155	150	1	impact	impact	NOUN
asir-55155	150	2	of	of	ADP
asir-55155	150	3	environmental	environmental	ADJ
asir-55155	150	4	(	(	PUNCT
asir-55155	150	5	e	e	NOUN
asir-55155	150	6	)	)	PUNCT
asir-55155	150	7	and	and	CCONJ
asir-55155	150	8	social	social	ADJ
asir-55155	150	9	(	(	PUNCT
asir-55155	150	10	s	s	NOUN
asir-55155	150	11	)	)	PUNCT
asir-55155	150	12	dimensions	dimension	NOUN
asir-55155	150	13	:	:	PUNCT
asir-55155	150	14	the	the	DET
asir-55155	150	15	impact	impact	NOUN
asir-55155	150	16	of	of	ADP
asir-55155	150	17	environmental	environmental	ADJ
asir-55155	150	18	(	(	PUNCT
asir-55155	150	19	e	e	NOUN
asir-55155	150	20	)	)	PUNCT
asir-55155	150	21	and	and	CCONJ
asir-55155	150	22	social	social	ADJ
asir-55155	150	23	(	(	PUNCT
asir-55155	150	24	s	s	NOUN
asir-55155	150	25	)	)	PUNCT
asir-55155	150	26	dimensions	dimension	NOUN
asir-55155	150	27	on	on	ADP
asir-55155	150	28	financial	financial	ADJ
asir-55155	150	29	performance	performance	NOUN
asir-55155	150	30	varies	vary	VERB
asir-55155	150	31	across	across	ADP
asir-55155	150	32	different	different	ADJ
asir-55155	150	33	models	model	NOUN
asir-55155	150	34	but	but	CCONJ
asir-55155	150	35	generally	generally	ADV
asir-55155	150	36	shows	show	VERB
asir-55155	150	37	a	a	DET
asir-55155	150	38	positive	positive	ADJ
asir-55155	150	39	trend	trend	NOUN
asir-55155	150	40	.	.	PUNCT
asir-55155	151	1	this	this	PRON
asir-55155	151	2	suggests	suggest	VERB
asir-55155	151	3	that	that	SCONJ
asir-55155	151	4	,	,	PUNCT
asir-55155	151	5	while	while	SCONJ
asir-55155	151	6	these	these	DET
asir-55155	151	7	dimensions	dimension	NOUN
asir-55155	151	8	might	might	AUX
asir-55155	151	9	not	not	PART
asir-55155	151	10	have	have	VERB
asir-55155	151	11	as	as	ADV
asir-55155	151	12	immediate	immediate	ADJ
asir-55155	151	13	an	an	DET
asir-55155	151	14	effect	effect	NOUN
asir-55155	151	15	as	as	ADP
asir-55155	151	16	the	the	DET
asir-55155	151	17	governance	governance	NOUN
asir-55155	151	18	(	(	PUNCT
asir-55155	151	19	g	g	NOUN
asir-55155	151	20	)	)	PUNCT
asir-55155	151	21	dimension	dimension	NOUN
asir-55155	151	22	,	,	PUNCT
asir-55155	151	23	they	they	PRON
asir-55155	151	24	still	still	ADV
asir-55155	151	25	positively	positively	ADV
asir-55155	151	26	influence	influence	VERB
asir-55155	151	27	corporate	corporate	ADJ
asir-55155	151	28	financial	financial	ADJ
asir-55155	151	29	health	health	NOUN
asir-55155	151	30	.	.	PUNCT
asir-55155	152	1	this	this	PRON
asir-55155	152	2	indicates	indicate	VERB
asir-55155	152	3	that	that	SCONJ
asir-55155	152	4	chinese	chinese	ADJ
asir-55155	152	5	high	high	ADJ
asir-55155	152	6	-	-	PUNCT
asir-55155	152	7	tech	tech	NOUN
asir-55155	152	8	companies	company	NOUN
asir-55155	152	9	can	can	AUX
asir-55155	152	10	significantly	significantly	ADV
asir-55155	152	11	enhance	enhance	VERB
asir-55155	152	12	their	their	PRON
asir-55155	152	13	long	long	ADJ
asir-55155	152	14	-	-	PUNCT
asir-55155	152	15	term	term	NOUN
asir-55155	152	16	financial	financial	ADJ
asir-55155	152	17	health	health	NOUN
asir-55155	152	18	and	and	CCONJ
asir-55155	152	19	market	market	NOUN
asir-55155	152	20	competitiveness	competitiveness	NOUN
asir-55155	152	21	by	by	ADP
asir-55155	152	22	improving	improve	VERB
asir-55155	152	23	esg	esg	NOUN
asir-55155	152	24	performance	performance	NOUN
asir-55155	152	25	,	,	PUNCT
asir-55155	152	26	especially	especially	ADV
asir-55155	152	27	in	in	ADP
asir-55155	152	28	governance	governance	NOUN
asir-55155	152	29	and	and	CCONJ
asir-55155	152	30	social	social	ADJ
asir-55155	152	31	responsibility	responsibility	NOUN
asir-55155	152	32	areas	area	NOUN
asir-55155	152	33	.	.	PUNCT
asir-55155	153	1	6.2	6.2	NUM
asir-55155	153	2	long	long	ADJ
asir-55155	153	3	-	-	PUNCT
asir-55155	153	4	term	term	NOUN
asir-55155	153	5	impact	impact	NOUN
asir-55155	153	6	of	of	ADP
asir-55155	153	7	esg	esg	PROPN
asir-55155	153	8	on	on	ADP
asir-55155	153	9	financial	financial	ADJ
asir-55155	153	10	performance	performance	NOUN
asir-55155	153	11	the	the	DET
asir-55155	153	12	empirical	empirical	ADJ
asir-55155	153	13	analysis	analysis	NOUN
asir-55155	153	14	results	result	NOUN
asir-55155	153	15	show	show	VERB
asir-55155	153	16	that	that	SCONJ
asir-55155	153	17	esg	esg	NOUN
asir-55155	153	18	performance	performance	NOUN
asir-55155	153	19	has	have	VERB
asir-55155	153	20	a	a	DET
asir-55155	153	21	significant	significant	ADJ
asir-55155	153	22	positive	positive	ADJ
asir-55155	153	23	impact	impact	NOUN
asir-55155	153	24	on	on	ADP
asir-55155	153	25	corporate	corporate	ADJ
asir-55155	153	26	financial	financial	ADJ
asir-55155	153	27	performance	performance	NOUN
asir-55155	153	28	,	,	PUNCT
asir-55155	153	29	particularly	particularly	ADV
asir-55155	153	30	in	in	ADP
asir-55155	153	31	companies	company	NOUN
asir-55155	153	32	with	with	ADP
asir-55155	153	33	strong	strong	ADJ
asir-55155	153	34	governance	governance	NOUN
asir-55155	153	35	dimensions	dimension	NOUN
asir-55155	153	36	.	.	PUNCT
asir-55155	154	1	this	this	PRON
asir-55155	154	2	suggests	suggest	VERB
asir-55155	154	3	that	that	SCONJ
asir-55155	154	4	high	high	ADJ
asir-55155	154	5	-	-	PUNCT
asir-55155	154	6	tech	tech	NOUN
asir-55155	154	7	companies	company	NOUN
asir-55155	154	8	that	that	PRON
asir-55155	154	9	optimize	optimize	VERB
asir-55155	154	10	their	their	PRON
asir-55155	154	11	governance	governance	NOUN
asir-55155	154	12	structures	structure	NOUN
asir-55155	154	13	can	can	AUX
asir-55155	154	14	better	well	ADV
asir-55155	154	15	manage	manage	VERB
asir-55155	154	16	market	market	NOUN
asir-55155	154	17	fluctuations	fluctuation	NOUN
asir-55155	154	18	and	and	CCONJ
asir-55155	154	19	long	long	ADJ
asir-55155	154	20	-	-	PUNCT
asir-55155	154	21	term	term	NOUN
asir-55155	154	22	risks	risk	NOUN
asir-55155	154	23	,	,	PUNCT
asir-55155	154	24	thus	thus	ADV
asir-55155	154	25	improving	improve	VERB
asir-55155	154	26	their	their	PRON
asir-55155	154	27	financial	financial	ADJ
asir-55155	154	28	health	health	NOUN
asir-55155	154	29	.	.	PUNCT
asir-55155	155	1	optimizing	optimize	VERB
asir-55155	155	2	governance	governance	NOUN
asir-55155	155	3	structures	structure	NOUN
asir-55155	155	4	helps	help	VERB
asir-55155	155	5	companies	company	NOUN
asir-55155	155	6	manage	manage	VERB
asir-55155	155	7	risks	risk	NOUN
asir-55155	155	8	more	more	ADV
asir-55155	155	9	effectively	effectively	ADV
asir-55155	155	10	and	and	CCONJ
asir-55155	155	11	increase	increase	VERB
asir-55155	155	12	operational	operational	ADJ
asir-55155	155	13	efficiency	efficiency	NOUN
asir-55155	155	14	,	,	PUNCT
asir-55155	155	15	leading	lead	VERB
asir-55155	155	16	to	to	ADP
asir-55155	155	17	sustainable	sustainable	ADJ
asir-55155	155	18	financial	financial	ADJ
asir-55155	155	19	growth	growth	NOUN
asir-55155	155	20	.	.	PUNCT
asir-55155	156	1	6.3	6.3	NUM
asir-55155	156	2	national	national	ADJ
asir-55155	156	3	differences	difference	NOUN
asir-55155	156	4	and	and	CCONJ
asir-55155	156	5	industry	industry	NOUN
asir-55155	156	6	characteristics	characteristic	NOUN
asir-55155	156	7	chinese	chinese	ADJ
asir-55155	156	8	high	high	ADJ
asir-55155	156	9	-	-	PUNCT
asir-55155	156	10	tech	tech	NOUN
asir-55155	156	11	and	and	CCONJ
asir-55155	156	12	internet	internet	NOUN
asir-55155	156	13	companies	company	NOUN
asir-55155	156	14	have	have	VERB
asir-55155	156	15	highly	highly	ADV
asir-55155	156	16	market	market	NOUN
asir-55155	156	17	-	-	PUNCT
asir-55155	156	18	oriented	orient	VERB
asir-55155	156	19	characteristics	characteristic	NOUN
asir-55155	156	20	.	.	PUNCT
asir-55155	157	1	their	their	PRON
asir-55155	157	2	esg	esg	NOUN
asir-55155	157	3	performance	performance	NOUN
asir-55155	157	4	not	not	PART
asir-55155	157	5	only	only	ADV
asir-55155	157	6	enhances	enhance	VERB
asir-55155	157	7	financial	financial	ADJ
asir-55155	157	8	performance	performance	NOUN
asir-55155	157	9	but	but	CCONJ
asir-55155	157	10	also	also	ADV
asir-55155	157	11	strengthens	strengthen	VERB
asir-55155	157	12	market	market	NOUN
asir-55155	157	13	competitiveness	competitiveness	NOUN
asir-55155	157	14	.	.	PUNCT
asir-55155	158	1	in	in	ADP
asir-55155	158	2	the	the	DET
asir-55155	158	3	context	context	NOUN
asir-55155	158	4	of	of	ADP
asir-55155	158	5	globalization	globalization	NOUN
asir-55155	158	6	,	,	PUNCT
asir-55155	158	7	the	the	DET
asir-55155	158	8	esg	esg	NOUN
asir-55155	158	9	performance	performance	NOUN
asir-55155	158	10	of	of	ADP
asir-55155	158	11	chinese	chinese	ADJ
asir-55155	158	12	companies	company	NOUN
asir-55155	158	13	also	also	ADV
asir-55155	158	14	attracts	attract	VERB
asir-55155	158	15	international	international	ADJ
asir-55155	158	16	market	market	NOUN
asir-55155	158	17	attention	attention	NOUN
asir-55155	158	18	.	.	PUNCT
asir-55155	159	1	therefore	therefore	ADV
asir-55155	159	2	,	,	PUNCT
asir-55155	159	3	chinese	chinese	ADJ
asir-55155	159	4	companies	company	NOUN
asir-55155	159	5	need	need	VERB
asir-55155	159	6	to	to	PART
asir-55155	159	7	consider	consider	VERB
asir-55155	159	8	international	international	ADJ
asir-55155	159	9	market	market	NOUN
asir-55155	159	10	standards	standard	NOUN
asir-55155	159	11	and	and	CCONJ
asir-55155	159	12	expectations	expectation	NOUN
asir-55155	159	13	when	when	SCONJ
asir-55155	159	14	formulating	formulate	VERB
asir-55155	159	15	esg	esg	NOUN
asir-55155	159	16	strategies	strategy	NOUN
asir-55155	159	17	to	to	PART
asir-55155	159	18	improve	improve	VERB
asir-55155	159	19	their	their	PRON
asir-55155	159	20	global	global	ADJ
asir-55155	159	21	competitiveness	competitiveness	NOUN
asir-55155	159	22	.	.	PUNCT
asir-55155	160	1	7	7	X
asir-55155	160	2	.	.	X
asir-55155	160	3	future	future	ADJ
asir-55155	160	4	outlook	outlook	NOUN
asir-55155	160	5	and	and	CCONJ
asir-55155	160	6	policy	policy	NOUN
asir-55155	160	7	recommendations	recommendation	NOUN
asir-55155	160	8	7.1	7.1	NUM
asir-55155	160	9	future	future	ADJ
asir-55155	160	10	research	research	NOUN
asir-55155	160	11	directions	direction	NOUN
asir-55155	160	12	www.scholink.org/ojs/index.php/asir	www.scholink.org/ojs/index.php/asir	VERB
asir-55155	160	13	applied	apply	VERB
asir-55155	160	14	science	science	NOUN
asir-55155	160	15	and	and	CCONJ
asir-55155	160	16	innovative	innovative	ADJ
asir-55155	160	17	research	research	NOUN
asir-55155	160	18	vol	vol	NOUN
asir-55155	160	19	.	.	PROPN
asir-55155	160	20	8	8	NUM
asir-55155	160	21	,	,	PUNCT
asir-55155	160	22	no	no	INTJ
asir-55155	160	23	.	.	NOUN
asir-55155	160	24	4	4	NUM
asir-55155	160	25	,	,	PUNCT
asir-55155	160	26	2024	2024	NUM
asir-55155	160	27	59	59	NUM
asir-55155	160	28	published	publish	VERB
asir-55155	160	29	by	by	ADP
asir-55155	160	30	scholink	scholink	PROPN
asir-55155	160	31	inc	inc	PROPN
asir-55155	160	32	.	.	PUNCT
asir-55155	161	1	although	although	SCONJ
asir-55155	161	2	this	this	DET
asir-55155	161	3	study	study	NOUN
asir-55155	161	4	has	have	AUX
asir-55155	161	5	revealed	reveal	VERB
asir-55155	161	6	the	the	DET
asir-55155	161	7	relationship	relationship	NOUN
asir-55155	161	8	between	between	ADP
asir-55155	161	9	esg	esg	PROPN
asir-55155	161	10	and	and	CCONJ
asir-55155	161	11	financial	financial	ADJ
asir-55155	161	12	performance	performance	NOUN
asir-55155	161	13	through	through	ADP
asir-55155	161	14	empirical	empirical	ADJ
asir-55155	161	15	analysis	analysis	NOUN
asir-55155	161	16	,	,	PUNCT
asir-55155	161	17	due	due	ADP
asir-55155	161	18	to	to	ADP
asir-55155	161	19	data	datum	NOUN
asir-55155	161	20	limitations	limitation	NOUN
asir-55155	161	21	and	and	CCONJ
asir-55155	161	22	industry	industry	NOUN
asir-55155	161	23	specificity	specificity	NOUN
asir-55155	161	24	,	,	PUNCT
asir-55155	161	25	future	future	ADJ
asir-55155	161	26	research	research	NOUN
asir-55155	161	27	could	could	AUX
asir-55155	161	28	explore	explore	VERB
asir-55155	161	29	the	the	DET
asir-55155	161	30	following	follow	VERB
asir-55155	161	31	directions	direction	NOUN
asir-55155	161	32	:	:	PUNCT
asir-55155	161	33	cross	cross	ADJ
asir-55155	161	34	-	-	ADJ
asir-55155	161	35	industry	industry	ADJ
asir-55155	161	36	comparative	comparative	ADJ
asir-55155	161	37	studies	study	NOUN
asir-55155	161	38	:	:	PUNCT
asir-55155	161	39	analyze	analyze	VERB
asir-55155	161	40	the	the	DET
asir-55155	161	41	differences	difference	NOUN
asir-55155	161	42	in	in	ADP
asir-55155	161	43	esg	esg	PROPN
asir-55155	161	44	performance	performance	NOUN
asir-55155	161	45	across	across	ADP
asir-55155	161	46	various	various	ADJ
asir-55155	161	47	industries	industry	NOUN
asir-55155	161	48	to	to	PART
asir-55155	161	49	reveal	reveal	VERB
asir-55155	161	50	its	its	PRON
asir-55155	161	51	different	different	ADJ
asir-55155	161	52	impacts	impact	NOUN
asir-55155	161	53	on	on	ADP
asir-55155	161	54	financial	financial	ADJ
asir-55155	161	55	performance	performance	NOUN
asir-55155	161	56	.	.	PUNCT
asir-55155	162	1	this	this	PRON
asir-55155	162	2	will	will	AUX
asir-55155	162	3	help	help	VERB
asir-55155	162	4	understand	understand	VERB
asir-55155	162	5	the	the	DET
asir-55155	162	6	varying	vary	VERB
asir-55155	162	7	effects	effect	NOUN
asir-55155	162	8	of	of	ADP
asir-55155	162	9	esg	esg	PROPN
asir-55155	162	10	across	across	ADP
asir-55155	162	11	sectors	sector	NOUN
asir-55155	162	12	.	.	PUNCT
asir-55155	163	1	global	global	ADJ
asir-55155	163	2	perspective	perspective	NOUN
asir-55155	163	3	:	:	PUNCT
asir-55155	163	4	combine	combine	VERB
asir-55155	163	5	international	international	ADJ
asir-55155	163	6	data	datum	NOUN
asir-55155	163	7	to	to	PART
asir-55155	163	8	study	study	VERB
asir-55155	163	9	the	the	DET
asir-55155	163	10	relationship	relationship	NOUN
asir-55155	163	11	between	between	ADP
asir-55155	163	12	esg	esg	PROPN
asir-55155	163	13	standards	standard	NOUN
asir-55155	163	14	in	in	ADP
asir-55155	163	15	different	different	ADJ
asir-55155	163	16	countries	country	NOUN
asir-55155	163	17	and	and	CCONJ
asir-55155	163	18	regions	region	NOUN
asir-55155	163	19	and	and	CCONJ
asir-55155	163	20	their	their	PRON
asir-55155	163	21	economic	economic	ADJ
asir-55155	163	22	performance	performance	NOUN
asir-55155	163	23	,	,	PUNCT
asir-55155	163	24	further	far	ADV
asir-55155	163	25	expanding	expand	VERB
asir-55155	163	26	the	the	DET
asir-55155	163	27	impact	impact	NOUN
asir-55155	163	28	of	of	ADP
asir-55155	163	29	esg	esg	PROPN
asir-55155	163	30	on	on	ADP
asir-55155	163	31	global	global	ADJ
asir-55155	163	32	economic	economic	ADJ
asir-55155	163	33	development	development	NOUN
asir-55155	163	34	.	.	PUNCT
asir-55155	164	1	esg	esg	PROPN
asir-55155	164	2	investment	investment	NOUN
asir-55155	164	3	return	return	NOUN
asir-55155	164	4	analysis	analysis	NOUN
asir-55155	164	5	:	:	PUNCT
asir-55155	164	6	explore	explore	VERB
asir-55155	164	7	the	the	DET
asir-55155	164	8	return	return	NOUN
asir-55155	164	9	on	on	ADP
asir-55155	164	10	investment	investment	NOUN
asir-55155	164	11	for	for	ADP
asir-55155	164	12	esg	esg	NOUN
asir-55155	164	13	projects	project	NOUN
asir-55155	164	14	,	,	PUNCT
asir-55155	164	15	particularly	particularly	ADV
asir-55155	164	16	in	in	ADP
asir-55155	164	17	the	the	DET
asir-55155	164	18	green	green	ADJ
asir-55155	164	19	innovation	innovation	NOUN
asir-55155	164	20	sector	sector	NOUN
asir-55155	164	21	of	of	ADP
asir-55155	164	22	the	the	DET
asir-55155	164	23	high	high	ADJ
asir-55155	164	24	-	-	PUNCT
asir-55155	164	25	tech	tech	NOUN
asir-55155	164	26	industry	industry	NOUN
asir-55155	164	27	,	,	PUNCT
asir-55155	164	28	to	to	PART
asir-55155	164	29	identify	identify	VERB
asir-55155	164	30	potential	potential	ADJ
asir-55155	164	31	opportunities	opportunity	NOUN
asir-55155	164	32	and	and	CCONJ
asir-55155	164	33	benefits	benefit	NOUN
asir-55155	164	34	.	.	PUNCT
asir-55155	165	1	7.2	7.2	NUM
asir-55155	165	2	policy	policy	NOUN
asir-55155	165	3	recommendations	recommendation	NOUN
asir-55155	165	4	based	base	VERB
asir-55155	165	5	on	on	ADP
asir-55155	165	6	the	the	DET
asir-55155	165	7	research	research	NOUN
asir-55155	165	8	conclusions	conclusion	NOUN
asir-55155	165	9	,	,	PUNCT
asir-55155	165	10	the	the	DET
asir-55155	165	11	following	follow	VERB
asir-55155	165	12	recommendations	recommendation	NOUN
asir-55155	165	13	are	be	AUX
asir-55155	165	14	proposed	propose	VERB
asir-55155	165	15	:	:	PUNCT
asir-55155	165	16	strengthen	strengthen	VERB
asir-55155	165	17	governance	governance	NOUN
asir-55155	165	18	structures	structure	NOUN
asir-55155	165	19	:	:	PUNCT
asir-55155	165	20	high	high	ADJ
asir-55155	165	21	-	-	PUNCT
asir-55155	165	22	tech	tech	NOUN
asir-55155	165	23	companies	company	NOUN
asir-55155	165	24	should	should	AUX
asir-55155	165	25	further	far	ADV
asir-55155	165	26	enhance	enhance	VERB
asir-55155	165	27	board	board	NOUN
asir-55155	165	28	independence	independence	NOUN
asir-55155	165	29	,	,	PUNCT
asir-55155	165	30	transparency	transparency	NOUN
asir-55155	165	31	,	,	PUNCT
asir-55155	165	32	and	and	CCONJ
asir-55155	165	33	management	management	NOUN
asir-55155	165	34	incentives	incentive	VERB
asir-55155	165	35	to	to	PART
asir-55155	165	36	reduce	reduce	VERB
asir-55155	165	37	operational	operational	ADJ
asir-55155	165	38	risks	risk	NOUN
asir-55155	165	39	and	and	CCONJ
asir-55155	165	40	improve	improve	VERB
asir-55155	165	41	financial	financial	ADJ
asir-55155	165	42	performance	performance	NOUN
asir-55155	165	43	.	.	PUNCT
asir-55155	166	1	enhance	enhance	VERB
asir-55155	166	2	environmental	environmental	ADJ
asir-55155	166	3	responsibility	responsibility	NOUN
asir-55155	166	4	awareness	awareness	NOUN
asir-55155	166	5	:	:	PUNCT
asir-55155	166	6	although	although	SCONJ
asir-55155	166	7	environmental	environmental	ADJ
asir-55155	166	8	investments	investment	NOUN
asir-55155	166	9	may	may	AUX
asir-55155	166	10	increase	increase	VERB
asir-55155	166	11	costs	cost	NOUN
asir-55155	166	12	in	in	ADP
asir-55155	166	13	the	the	DET
asir-55155	166	14	short	short	ADJ
asir-55155	166	15	term	term	NOUN
asir-55155	166	16	,	,	PUNCT
asir-55155	166	17	fulfilling	fulfil	VERB
asir-55155	166	18	environmental	environmental	ADJ
asir-55155	166	19	responsibilities	responsibility	NOUN
asir-55155	166	20	can	can	AUX
asir-55155	166	21	enhance	enhance	VERB
asir-55155	166	22	reputation	reputation	NOUN
asir-55155	166	23	and	and	CCONJ
asir-55155	166	24	attract	attract	VERB
asir-55155	166	25	long	long	ADJ
asir-55155	166	26	-	-	PUNCT
asir-55155	166	27	term	term	NOUN
asir-55155	166	28	capital	capital	NOUN
asir-55155	166	29	investment	investment	NOUN
asir-55155	166	30	in	in	ADP
asir-55155	166	31	the	the	DET
asir-55155	166	32	long	long	ADJ
asir-55155	166	33	run	run	NOUN
asir-55155	166	34	.	.	PUNCT
asir-55155	167	1	strategic	strategic	ADJ
asir-55155	167	2	social	social	ADJ
asir-55155	167	3	responsibility	responsibility	NOUN
asir-55155	167	4	:	:	PUNCT
asir-55155	167	5	companies	company	NOUN
asir-55155	167	6	should	should	AUX
asir-55155	167	7	integrate	integrate	VERB
asir-55155	167	8	social	social	ADJ
asir-55155	167	9	responsibility	responsibility	NOUN
asir-55155	167	10	with	with	ADP
asir-55155	167	11	core	core	ADJ
asir-55155	167	12	business	business	NOUN
asir-55155	167	13	activities	activity	NOUN
asir-55155	167	14	,	,	PUNCT
asir-55155	167	15	institutionalize	institutionalize	VERB
asir-55155	167	16	and	and	CCONJ
asir-55155	167	17	long	long	ADJ
asir-55155	167	18	-	-	PUNCT
asir-55155	167	19	termize	termize	NOUN
asir-55155	167	20	social	social	ADJ
asir-55155	167	21	responsibility	responsibility	NOUN
asir-55155	167	22	projects	project	NOUN
asir-55155	167	23	,	,	PUNCT
asir-55155	167	24	and	and	CCONJ
asir-55155	167	25	enhance	enhance	VERB
asir-55155	167	26	employee	employee	NOUN
asir-55155	167	27	loyalty	loyalty	NOUN
asir-55155	167	28	and	and	CCONJ
asir-55155	167	29	customer	customer	NOUN
asir-55155	167	30	trust	trust	NOUN
asir-55155	167	31	.	.	PUNCT
asir-55155	168	1	7.3	7.3	NUM
asir-55155	168	2	conclusion	conclusion	NOUN
asir-55155	168	3	in	in	ADP
asir-55155	168	4	the	the	DET
asir-55155	168	5	context	context	NOUN
asir-55155	168	6	of	of	ADP
asir-55155	168	7	global	global	ADJ
asir-55155	168	8	sustainable	sustainable	ADJ
asir-55155	168	9	development	development	NOUN
asir-55155	168	10	trends	trend	NOUN
asir-55155	168	11	and	and	CCONJ
asir-55155	168	12	capital	capital	NOUN
asir-55155	168	13	market	market	NOUN
asir-55155	168	14	dynamics	dynamic	NOUN
asir-55155	168	15	,	,	PUNCT
asir-55155	168	16	the	the	DET
asir-55155	168	17	impact	impact	NOUN
asir-55155	168	18	of	of	ADP
asir-55155	168	19	esg	esg	PROPN
asir-55155	168	20	performance	performance	NOUN
asir-55155	168	21	on	on	ADP
asir-55155	168	22	corporate	corporate	ADJ
asir-55155	168	23	financial	financial	ADJ
asir-55155	168	24	performance	performance	NOUN
asir-55155	168	25	has	have	AUX
asir-55155	168	26	become	become	VERB
asir-55155	168	27	a	a	DET
asir-55155	168	28	hot	hot	ADJ
asir-55155	168	29	research	research	NOUN
asir-55155	168	30	topic	topic	NOUN
asir-55155	168	31	.	.	PUNCT
asir-55155	169	1	through	through	ADP
asir-55155	169	2	empirical	empirical	ADJ
asir-55155	169	3	analysis	analysis	NOUN
asir-55155	169	4	of	of	ADP
asir-55155	169	5	china	china	PROPN
asir-55155	169	6	's	's	PART
asir-55155	169	7	high	high	ADJ
asir-55155	169	8	-	-	PUNCT
asir-55155	169	9	tech	tech	NOUN
asir-55155	169	10	and	and	CCONJ
asir-55155	169	11	internet	internet	NOUN
asir-55155	169	12	industries	industry	NOUN
asir-55155	169	13	,	,	PUNCT
asir-55155	169	14	this	this	DET
asir-55155	169	15	study	study	NOUN
asir-55155	169	16	highlights	highlight	VERB
asir-55155	169	17	the	the	DET
asir-55155	169	18	importance	importance	NOUN
asir-55155	169	19	of	of	ADP
asir-55155	169	20	esg	esg	PROPN
asir-55155	169	21	,	,	PUNCT
asir-55155	169	22	particularly	particularly	ADV
asir-55155	169	23	the	the	DET
asir-55155	169	24	governance	governance	NOUN
asir-55155	169	25	dimension	dimension	NOUN
asir-55155	169	26	,	,	PUNCT
asir-55155	169	27	for	for	ADP
asir-55155	169	28	long	long	ADJ
asir-55155	169	29	-	-	PUNCT
asir-55155	169	30	term	term	NOUN
asir-55155	169	31	financial	financial	ADJ
asir-55155	169	32	health	health	NOUN
asir-55155	169	33	.	.	PUNCT
asir-55155	170	1	as	as	SCONJ
asir-55155	170	2	esg	esg	PROPN
asir-55155	170	3	standards	standard	NOUN
asir-55155	170	4	continue	continue	VERB
asir-55155	170	5	to	to	PART
asir-55155	170	6	evolve	evolve	VERB
asir-55155	170	7	and	and	CCONJ
asir-55155	170	8	investor	investor	NOUN
asir-55155	170	9	attention	attention	NOUN
asir-55155	170	10	increases	increase	NOUN
asir-55155	170	11	,	,	PUNCT
asir-55155	170	12	chinese	chinese	ADJ
asir-55155	170	13	companies	company	NOUN
asir-55155	170	14	should	should	AUX
asir-55155	170	15	actively	actively	ADV
asir-55155	170	16	fulfill	fulfill	VERB
asir-55155	170	17	environmental	environmental	ADJ
asir-55155	170	18	and	and	CCONJ
asir-55155	170	19	social	social	ADJ
asir-55155	170	20	responsibilities	responsibility	NOUN
asir-55155	170	21	to	to	PART
asir-55155	170	22	achieve	achieve	VERB
asir-55155	170	23	better	well	ADJ
asir-55155	170	24	market	market	NOUN
asir-55155	170	25	returns	return	NOUN
asir-55155	170	26	and	and	CCONJ
asir-55155	170	27	social	social	ADJ
asir-55155	170	28	recognition	recognition	NOUN
asir-55155	170	29	.	.	PUNCT
asir-55155	171	1	references	reference	NOUN
asir-55155	171	2	chen	chen	PROPN
asir-55155	171	3	,	,	PUNCT
asir-55155	171	4	c.	c.	PROPN
asir-55155	171	5	,	,	PUNCT
asir-55155	171	6	&	&	CCONJ
asir-55155	171	7	zhang	zhang	PROPN
asir-55155	171	8	,	,	PUNCT
asir-55155	171	9	s.	s.	PROPN
asir-55155	171	10	(	(	PUNCT
asir-55155	171	11	2019	2019	NUM
asir-55155	171	12	)	)	PUNCT
asir-55155	171	13	.	.	PUNCT
asir-55155	172	1	the	the	DET
asir-55155	172	2	effect	effect	NOUN
asir-55155	172	3	of	of	ADP
asir-55155	172	4	environmental	environmental	ADJ
asir-55155	172	5	,	,	PUNCT
asir-55155	172	6	social	social	ADJ
asir-55155	172	7	,	,	PUNCT
asir-55155	172	8	and	and	CCONJ
asir-55155	172	9	governance	governance	NOUN
asir-55155	172	10	practices	practice	NOUN
asir-55155	172	11	on	on	ADP
asir-55155	172	12	corporate	corporate	ADJ
asir-55155	172	13	financial	financial	ADJ
asir-55155	172	14	performance	performance	NOUN
asir-55155	172	15	:	:	PUNCT
asir-55155	172	16	evidence	evidence	NOUN
asir-55155	172	17	from	from	ADP
asir-55155	172	18	china	china	PROPN
asir-55155	172	19	.	.	PUNCT
asir-55155	173	1	china	china	PROPN
asir-55155	173	2	economic	economic	PROPN
asir-55155	173	3	review	review	PROPN
asir-55155	173	4	,	,	PUNCT
asir-55155	173	5	58	58	NUM
asir-55155	173	6	,	,	PUNCT
asir-55155	173	7	101155	101155	NUM
asir-55155	173	8	.	.	PUNCT
asir-55155	174	1	eccles	eccles	PROPN
asir-55155	174	2	,	,	PUNCT
asir-55155	174	3	r.g	r.g	PROPN
asir-55155	174	4	.	.	PROPN
asir-55155	174	5	,	,	PUNCT
asir-55155	174	6	ioannou	ioannou	NOUN
asir-55155	174	7	,	,	PUNCT
asir-55155	174	8	i.	i.	PROPN
asir-55155	174	9	,	,	PUNCT
asir-55155	174	10	&	&	CCONJ
asir-55155	174	11	serafeim	serafeim	PROPN
asir-55155	174	12	,	,	PUNCT
asir-55155	174	13	g.	g.	PROPN
asir-55155	174	14	(	(	PUNCT
asir-55155	174	15	2014	2014	NUM
asir-55155	174	16	)	)	PUNCT
asir-55155	174	17	.	.	PUNCT
asir-55155	175	1	the	the	DET
asir-55155	175	2	impact	impact	NOUN
asir-55155	175	3	of	of	ADP
asir-55155	175	4	corporate	corporate	ADJ
asir-55155	175	5	sustainability	sustainability	NOUN
asir-55155	175	6	on	on	ADP
asir-55155	175	7	organizational	organizational	ADJ
asir-55155	175	8	processes	process	NOUN
asir-55155	175	9	and	and	CCONJ
asir-55155	175	10	performance	performance	NOUN
asir-55155	175	11	.	.	PUNCT
asir-55155	176	1	management	management	NOUN
asir-55155	176	2	science	science	NOUN
asir-55155	176	3	,	,	PUNCT
asir-55155	176	4	60(11	60(11	NUM
asir-55155	176	5	)	)	PUNCT
asir-55155	176	6	,	,	PUNCT
asir-55155	176	7	2835	2835	NUM
asir-55155	176	8	-	-	SYM
asir-55155	176	9	2857	2857	NUM
asir-55155	176	10	.	.	PUNCT
asir-55155	177	1	https://doi.org/10.1287/mnsc.2014.1984	https://doi.org/10.1287/mnsc.2014.1984	PROPN
asir-55155	177	2	www.scholink.org/ojs/index.php/asir	www.scholink.org/ojs/index.php/asir	NOUN
asir-55155	177	3	applied	apply	VERB
asir-55155	177	4	science	science	NOUN
asir-55155	177	5	and	and	CCONJ
asir-55155	177	6	innovative	innovative	ADJ
asir-55155	177	7	research	research	NOUN
asir-55155	177	8	vol	vol	NOUN
asir-55155	177	9	.	.	PROPN
asir-55155	178	1	8	8	NUM
asir-55155	178	2	,	,	PUNCT
asir-55155	178	3	no	no	INTJ
asir-55155	178	4	.	.	NOUN
asir-55155	178	5	4	4	NUM
asir-55155	178	6	,	,	PUNCT
asir-55155	178	7	2024	2024	NUM
asir-55155	178	8	60	60	NUM
asir-55155	178	9	published	publish	VERB
asir-55155	178	10	by	by	ADP
asir-55155	178	11	scholink	scholink	PROPN
asir-55155	178	12	inc	inc	PROPN
asir-55155	178	13	.	.	PROPN
asir-55155	178	14	feng	feng	PROPN
asir-55155	178	15	,	,	PUNCT
asir-55155	178	16	j.	j.	PROPN
asir-55155	178	17	,	,	PUNCT
asir-55155	178	18	&	&	CCONJ
asir-55155	178	19	zhang	zhang	PROPN
asir-55155	178	20	,	,	PUNCT
asir-55155	178	21	l.	l.	PROPN
asir-55155	178	22	(	(	PUNCT
asir-55155	178	23	2020	2020	NUM
asir-55155	178	24	)	)	PUNCT
asir-55155	178	25	.	.	PUNCT
asir-55155	179	1	the	the	DET
asir-55155	179	2	impact	impact	NOUN
asir-55155	179	3	of	of	ADP
asir-55155	179	4	corporate	corporate	ADJ
asir-55155	179	5	social	social	ADJ
asir-55155	179	6	responsibility	responsibility	NOUN
asir-55155	179	7	on	on	ADP
asir-55155	179	8	firm	firm	ADJ
asir-55155	179	9	performance	performance	NOUN
asir-55155	179	10	:	:	PUNCT
asir-55155	179	11	evidence	evidence	NOUN
asir-55155	179	12	from	from	ADP
asir-55155	179	13	china	china	PROPN
asir-55155	179	14	’s	’s	PART
asir-55155	179	15	high	high	ADJ
asir-55155	179	16	-	-	PUNCT
asir-55155	179	17	tech	tech	NOUN
asir-55155	179	18	industry	industry	NOUN
asir-55155	179	19	.	.	PUNCT
asir-55155	180	1	journal	journal	PROPN
asir-55155	180	2	of	of	ADP
asir-55155	180	3	business	business	NOUN
asir-55155	180	4	ethics	ethic	NOUN
asir-55155	180	5	,	,	PUNCT
asir-55155	180	6	164(4	164(4	NUM
asir-55155	180	7	)	)	PUNCT
asir-55155	180	8	,	,	PUNCT
asir-55155	180	9	701	701	NUM
asir-55155	180	10	-	-	SYM
asir-55155	180	11	716	716	NUM
asir-55155	180	12	.	.	PUNCT
asir-55155	181	1	hsu	hsu	PROPN
asir-55155	181	2	,	,	PUNCT
asir-55155	181	3	p.-h	p.-h	PROPN
asir-55155	181	4	.	.	PUNCT
asir-55155	181	5	,	,	PUNCT
asir-55155	181	6	&	&	CCONJ
asir-55155	181	7	wang	wang	PROPN
asir-55155	181	8	,	,	PUNCT
asir-55155	181	9	t.-h	t.-h	PROPN
asir-55155	181	10	.	.	PUNCT
asir-55155	181	11	(	(	PUNCT
asir-55155	181	12	2022	2022	NUM
asir-55155	181	13	)	)	PUNCT
asir-55155	181	14	.	.	PUNCT
asir-55155	182	1	esg	esg	NOUN
asir-55155	182	2	performance	performance	NOUN
asir-55155	182	3	and	and	CCONJ
asir-55155	182	4	firm	firm	ADJ
asir-55155	182	5	value	value	NOUN
asir-55155	182	6	:	:	PUNCT
asir-55155	182	7	evidence	evidence	NOUN
asir-55155	182	8	from	from	ADP
asir-55155	182	9	china	china	PROPN
asir-55155	182	10	's	's	PART
asir-55155	182	11	technology	technology	NOUN
asir-55155	182	12	industry	industry	NOUN
asir-55155	182	13	.	.	PUNCT
asir-55155	183	1	journal	journal	NOUN
asir-55155	183	2	of	of	ADP
asir-55155	183	3	corporate	corporate	ADJ
asir-55155	183	4	finance	finance	NOUN
asir-55155	183	5	,	,	PUNCT
asir-55155	183	6	74	74	NUM
asir-55155	183	7	,	,	PUNCT
asir-55155	183	8	102339	102339	NUM
asir-55155	183	9	.	.	PUNCT
asir-55155	184	1	khan	khan	PROPN
asir-55155	184	2	,	,	PUNCT
asir-55155	184	3	m.	m.	NOUN
asir-55155	184	4	,	,	PUNCT
asir-55155	184	5	serafeim	serafeim	PROPN
asir-55155	184	6	,	,	PUNCT
asir-55155	184	7	g.	g.	PROPN
asir-55155	184	8	,	,	PUNCT
asir-55155	184	9	&	&	CCONJ
asir-55155	184	10	yoon	yoon	PROPN
asir-55155	184	11	,	,	PUNCT
asir-55155	184	12	a.	a.	NOUN
asir-55155	184	13	(	(	PUNCT
asir-55155	184	14	2016	2016	NUM
asir-55155	184	15	)	)	PUNCT
asir-55155	184	16	.	.	PUNCT
asir-55155	185	1	corporate	corporate	ADJ
asir-55155	185	2	sustainability	sustainability	NOUN
asir-55155	185	3	:	:	PUNCT
asir-55155	185	4	first	first	ADJ
asir-55155	185	5	evidence	evidence	NOUN
asir-55155	185	6	on	on	ADP
asir-55155	185	7	materiality	materiality	NOUN
asir-55155	185	8	.	.	PUNCT
asir-55155	186	1	the	the	DET
asir-55155	186	2	accounting	accounting	NOUN
asir-55155	186	3	review	review	NOUN
asir-55155	186	4	,	,	PUNCT
asir-55155	186	5	91(6	91(6	NUM
asir-55155	186	6	)	)	PUNCT
asir-55155	186	7	,	,	PUNCT
asir-55155	186	8	1697	1697	NUM
asir-55155	186	9	-	-	SYM
asir-55155	186	10	1724	1724	NUM
asir-55155	186	11	.	.	PUNCT
asir-55155	187	1	https://doi.org/10.2308/accr-51383	https://doi.org/10.2308/accr-51383	PROPN
asir-55155	187	2	li	li	PROPN
asir-55155	187	3	,	,	PUNCT
asir-55155	187	4	y.	y.	PROPN
asir-55155	187	5	,	,	PUNCT
asir-55155	187	6	wang	wang	PROPN
asir-55155	187	7	,	,	PUNCT
asir-55155	187	8	h.	h.	PROPN
asir-55155	187	9	,	,	PUNCT
asir-55155	187	10	&	&	CCONJ
asir-55155	187	11	zhang	zhang	PROPN
asir-55155	187	12	,	,	PUNCT
asir-55155	187	13	z.	z.	PROPN
asir-55155	187	14	(	(	PUNCT
asir-55155	187	15	2021	2021	NUM
asir-55155	187	16	)	)	PUNCT
asir-55155	187	17	.	.	PUNCT
asir-55155	188	1	the	the	DET
asir-55155	188	2	impact	impact	NOUN
asir-55155	188	3	of	of	ADP
asir-55155	188	4	esg	esg	PROPN
asir-55155	188	5	performance	performance	NOUN
asir-55155	188	6	on	on	ADP
asir-55155	188	7	financial	financial	ADJ
asir-55155	188	8	performance	performance	NOUN
asir-55155	188	9	in	in	ADP
asir-55155	188	10	china	china	PROPN
asir-55155	188	11	's	's	PART
asir-55155	188	12	high	high	ADJ
asir-55155	188	13	-	-	PUNCT
asir-55155	188	14	tech	tech	NOUN
asir-55155	188	15	sector	sector	NOUN
asir-55155	188	16	.	.	PUNCT
asir-55155	189	1	china	china	PROPN
asir-55155	189	2	journal	journal	PROPN
asir-55155	189	3	of	of	ADP
asir-55155	189	4	accounting	accounting	PROPN
asir-55155	189	5	research	research	NOUN
asir-55155	189	6	,	,	PUNCT
asir-55155	189	7	14(3	14(3	NUM
asir-55155	189	8	)	)	PUNCT
asir-55155	189	9	,	,	PUNCT
asir-55155	189	10	223	223	NUM
asir-55155	189	11	-	-	SYM
asir-55155	189	12	242	242	NUM
asir-55155	189	13	.	.	PUNCT
asir-55155	190	1	liu	liu	PROPN
asir-55155	190	2	,	,	PUNCT
asir-55155	190	3	x.	x.	PROPN
asir-55155	190	4	,	,	PUNCT
asir-55155	190	5	&	&	CCONJ
asir-55155	190	6	zhang	zhang	PROPN
asir-55155	190	7	,	,	PUNCT
asir-55155	190	8	q.	q.	PROPN
asir-55155	190	9	(	(	PUNCT
asir-55155	190	10	2019	2019	NUM
asir-55155	190	11	)	)	PUNCT
asir-55155	190	12	.	.	PUNCT
asir-55155	191	1	environmental	environmental	ADJ
asir-55155	191	2	,	,	PUNCT
asir-55155	191	3	social	social	ADJ
asir-55155	191	4	,	,	PUNCT
asir-55155	191	5	and	and	CCONJ
asir-55155	191	6	governance	governance	NOUN
asir-55155	191	7	(	(	PUNCT
asir-55155	191	8	esg	esg	NOUN
asir-55155	191	9	)	)	PUNCT
asir-55155	191	10	performance	performance	NOUN
asir-55155	191	11	and	and	CCONJ
asir-55155	191	12	firm	firm	ADJ
asir-55155	191	13	risk	risk	NOUN
asir-55155	191	14	:	:	PUNCT
asir-55155	191	15	evidence	evidence	NOUN
asir-55155	191	16	from	from	ADP
asir-55155	191	17	china	china	PROPN
asir-55155	191	18	.	.	PUNCT
asir-55155	192	1	sustainability	sustainability	NOUN
asir-55155	192	2	,	,	PUNCT
asir-55155	192	3	11(23	11(23	NOUN
asir-55155	192	4	)	)	PUNCT
asir-55155	192	5	,	,	PUNCT
asir-55155	192	6	6795	6795	NUM
asir-55155	192	7	.	.	PUNCT
asir-55155	193	1	liu	liu	PROPN
asir-55155	193	2	,	,	PUNCT
asir-55155	193	3	y.	y.	PROPN
asir-55155	193	4	,	,	PUNCT
asir-55155	193	5	&	&	CCONJ
asir-55155	193	6	li	li	PROPN
asir-55155	193	7	,	,	PUNCT
asir-55155	193	8	m.	m.	NOUN
asir-55155	193	9	(	(	PUNCT
asir-55155	193	10	2020	2020	NUM
asir-55155	193	11	)	)	PUNCT
asir-55155	193	12	.	.	PUNCT
asir-55155	194	1	esg	esg	NOUN
asir-55155	194	2	performance	performance	NOUN
asir-55155	194	3	and	and	CCONJ
asir-55155	194	4	firm	firm	ADJ
asir-55155	194	5	value	value	NOUN
asir-55155	194	6	:	:	PUNCT
asir-55155	194	7	evidence	evidence	NOUN
asir-55155	194	8	from	from	ADP
asir-55155	194	9	china	china	PROPN
asir-55155	194	10	’s	’s	PART
asir-55155	194	11	high	high	ADJ
asir-55155	194	12	-	-	PUNCT
asir-55155	194	13	tech	tech	NOUN
asir-55155	194	14	industry	industry	NOUN
asir-55155	194	15	.	.	PUNCT
asir-55155	195	1	journal	journal	PROPN
asir-55155	195	2	of	of	ADP
asir-55155	195	3	international	international	ADJ
asir-55155	195	4	financial	financial	ADJ
asir-55155	195	5	markets	market	NOUN
asir-55155	195	6	,	,	PUNCT
asir-55155	195	7	institutions	institution	NOUN
asir-55155	195	8	and	and	CCONJ
asir-55155	195	9	money	money	NOUN
asir-55155	195	10	,	,	PUNCT
asir-55155	195	11	65	65	NUM
asir-55155	195	12	,	,	PUNCT
asir-55155	195	13	101168	101168	NUM
asir-55155	195	14	.	.	PUNCT
asir-55155	196	1	sun	sun	PROPN
asir-55155	196	2	,	,	PUNCT
asir-55155	196	3	l.	l.	PROPN
asir-55155	196	4	,	,	PUNCT
asir-55155	196	5	&	&	CCONJ
asir-55155	196	6	zhang	zhang	PROPN
asir-55155	196	7	,	,	PUNCT
asir-55155	196	8	r.	r.	PROPN
asir-55155	196	9	(	(	PUNCT
asir-55155	196	10	2018	2018	NUM
asir-55155	196	11	)	)	PUNCT
asir-55155	196	12	.	.	PUNCT
asir-55155	197	1	esg	esg	NOUN
asir-55155	197	2	reporting	reporting	NOUN
asir-55155	197	3	and	and	CCONJ
asir-55155	197	4	firm	firm	ADJ
asir-55155	197	5	performance	performance	NOUN
asir-55155	197	6	:	:	PUNCT
asir-55155	197	7	evidence	evidence	NOUN
asir-55155	197	8	from	from	ADP
asir-55155	197	9	china	china	PROPN
asir-55155	197	10	's	's	PART
asir-55155	197	11	high	high	ADJ
asir-55155	197	12	-	-	PUNCT
asir-55155	197	13	tech	tech	NOUN
asir-55155	197	14	sector	sector	NOUN
asir-55155	197	15	.	.	PUNCT
asir-55155	198	1	corporate	corporate	ADJ
asir-55155	198	2	social	social	ADJ
asir-55155	198	3	responsibility	responsibility	NOUN
asir-55155	198	4	and	and	CCONJ
asir-55155	198	5	environmental	environmental	ADJ
asir-55155	198	6	management	management	NOUN
asir-55155	198	7	,	,	PUNCT
asir-55155	198	8	25(5	25(5	NUM
asir-55155	198	9	)	)	PUNCT
asir-55155	198	10	,	,	PUNCT
asir-55155	198	11	1110	1110	NUM
asir-55155	198	12	-	-	SYM
asir-55155	198	13	1121	1121	NUM
asir-55155	198	14	.	.	PUNCT
asir-55155	199	1	wang	wang	PROPN
asir-55155	199	2	,	,	PUNCT
asir-55155	199	3	j.	j.	PROPN
asir-55155	199	4	,	,	PUNCT
asir-55155	199	5	&	&	CCONJ
asir-55155	199	6	li	li	PROPN
asir-55155	199	7	,	,	PUNCT
asir-55155	199	8	x.	x.	NOUN
asir-55155	199	9	(	(	PUNCT
asir-55155	199	10	2019	2019	NUM
asir-55155	199	11	)	)	PUNCT
asir-55155	199	12	.	.	PUNCT
asir-55155	200	1	an	an	DET
asir-55155	200	2	analysis	analysis	NOUN
asir-55155	200	3	of	of	ADP
asir-55155	200	4	esg	esg	NOUN
asir-55155	200	5	performance	performance	NOUN
asir-55155	200	6	and	and	CCONJ
asir-55155	200	7	financial	financial	ADJ
asir-55155	200	8	performance	performance	NOUN
asir-55155	200	9	:	:	PUNCT
asir-55155	200	10	a	a	DET
asir-55155	200	11	study	study	NOUN
asir-55155	200	12	of	of	ADP
asir-55155	200	13	china	china	PROPN
asir-55155	200	14	's	's	PART
asir-55155	200	15	technology	technology	NOUN
asir-55155	200	16	sector	sector	NOUN
asir-55155	200	17	.	.	PUNCT
asir-55155	201	1	sustainable	sustainable	ADJ
asir-55155	201	2	development	development	NOUN
asir-55155	201	3	,	,	PUNCT
asir-55155	201	4	27(5	27(5	PROPN
asir-55155	201	5	)	)	PUNCT
asir-55155	201	6	,	,	PUNCT
asir-55155	201	7	912	912	NUM
asir-55155	201	8	-	-	SYM
asir-55155	201	9	926	926	NUM
asir-55155	201	10	.	.	PUNCT
asir-55155	202	1	wang	wang	PROPN
asir-55155	202	2	,	,	PUNCT
asir-55155	202	3	q.	q.	PROPN
asir-55155	202	4	,	,	PUNCT
asir-55155	202	5	&	&	CCONJ
asir-55155	202	6	yang	yang	PROPN
asir-55155	202	7	,	,	PUNCT
asir-55155	202	8	x.	x.	NOUN
asir-55155	202	9	(	(	PUNCT
asir-55155	202	10	2020	2020	NUM
asir-55155	202	11	)	)	PUNCT
asir-55155	202	12	.	.	PUNCT
asir-55155	203	1	the	the	DET
asir-55155	203	2	role	role	NOUN
asir-55155	203	3	of	of	ADP
asir-55155	203	4	esg	esg	PROPN
asir-55155	203	5	in	in	ADP
asir-55155	203	6	corporate	corporate	ADJ
asir-55155	203	7	financial	financial	ADJ
asir-55155	203	8	performance	performance	NOUN
asir-55155	203	9	:	:	PUNCT
asir-55155	203	10	evidence	evidence	NOUN
asir-55155	203	11	from	from	ADP
asir-55155	203	12	china	china	PROPN
asir-55155	203	13	.	.	PUNCT
asir-55155	204	1	journal	journal	PROPN
asir-55155	204	2	of	of	ADP
asir-55155	204	3	financial	financial	ADJ
asir-55155	204	4	research	research	NOUN
asir-55155	204	5	,	,	PUNCT
asir-55155	204	6	43(2	43(2	NUM
asir-55155	204	7	)	)	PUNCT
asir-55155	204	8	,	,	PUNCT
asir-55155	204	9	305	305	NUM
asir-55155	204	10	-	-	SYM
asir-55155	204	11	324	324	NUM
asir-55155	204	12	.	.	PUNCT
asir-55155	205	1	xu	xu	PROPN
asir-55155	205	2	,	,	PUNCT
asir-55155	205	3	l.	l.	PROPN
asir-55155	205	4	,	,	PUNCT
asir-55155	205	5	&	&	CCONJ
asir-55155	205	6	wang	wang	PROPN
asir-55155	205	7	,	,	PUNCT
asir-55155	205	8	h.	h.	PROPN
asir-55155	205	9	(	(	PUNCT
asir-55155	205	10	2021	2021	NUM
asir-55155	205	11	)	)	PUNCT
asir-55155	205	12	.	.	PUNCT
asir-55155	206	1	an	an	DET
asir-55155	206	2	empirical	empirical	ADJ
asir-55155	206	3	study	study	NOUN
asir-55155	206	4	of	of	ADP
asir-55155	206	5	esg	esg	PROPN
asir-55155	206	6	performance	performance	NOUN
asir-55155	206	7	and	and	CCONJ
asir-55155	206	8	its	its	PRON
asir-55155	206	9	influence	influence	NOUN
asir-55155	206	10	on	on	ADP
asir-55155	206	11	firm	firm	ADJ
asir-55155	206	12	profitability	profitability	NOUN
asir-55155	206	13	:	:	PUNCT
asir-55155	206	14	evidence	evidence	NOUN
asir-55155	206	15	from	from	ADP
asir-55155	206	16	china	china	PROPN
asir-55155	206	17	's	's	PART
asir-55155	206	18	internet	internet	NOUN
asir-55155	206	19	sector	sector	NOUN
asir-55155	206	20	.	.	PUNCT
asir-55155	207	1	emerging	emerge	VERB
asir-55155	207	2	markets	market	NOUN
asir-55155	207	3	finance	finance	NOUN
asir-55155	207	4	and	and	CCONJ
asir-55155	207	5	trade	trade	NOUN
asir-55155	207	6	,	,	PUNCT
asir-55155	207	7	57(4	57(4	NUM
asir-55155	207	8	)	)	PUNCT
asir-55155	207	9	,	,	PUNCT
asir-55155	207	10	1016	1016	NUM
asir-55155	207	11	-	-	SYM
asir-55155	207	12	1030	1030	NUM
asir-55155	207	13	.	.	PUNCT
asir-55155	208	1	yang	yang	PROPN
asir-55155	208	2	,	,	PUNCT
asir-55155	208	3	l.	l.	PROPN
asir-55155	208	4	,	,	PUNCT
asir-55155	208	5	&	&	CCONJ
asir-55155	208	6	zhao	zhao	PROPN
asir-55155	208	7	,	,	PUNCT
asir-55155	208	8	s.	s.	PROPN
asir-55155	208	9	(	(	PUNCT
asir-55155	208	10	2022	2022	NUM
asir-55155	208	11	)	)	PUNCT
asir-55155	208	12	.	.	PUNCT
asir-55155	209	1	the	the	DET
asir-55155	209	2	influence	influence	NOUN
asir-55155	209	3	of	of	ADP
asir-55155	209	4	esg	esg	PROPN
asir-55155	209	5	factors	factor	NOUN
asir-55155	209	6	on	on	ADP
asir-55155	209	7	firm	firm	ADJ
asir-55155	209	8	performance	performance	NOUN
asir-55155	209	9	in	in	ADP
asir-55155	209	10	the	the	DET
asir-55155	209	11	internet	internet	NOUN
asir-55155	209	12	industry	industry	NOUN
asir-55155	209	13	:	:	PUNCT
asir-55155	209	14	evidence	evidence	NOUN
asir-55155	209	15	from	from	ADP
asir-55155	209	16	china	china	PROPN
asir-55155	209	17	.	.	PUNCT
asir-55155	210	1	asia	asia	PROPN
asir-55155	210	2	-	-	PUNCT
asir-55155	210	3	pacific	pacific	PROPN
asir-55155	210	4	journal	journal	PROPN
asir-55155	210	5	of	of	ADP
asir-55155	210	6	financial	financial	ADJ
asir-55155	210	7	studies	study	NOUN
asir-55155	210	8	,	,	PUNCT
asir-55155	210	9	51(3	51(3	NUM
asir-55155	210	10	)	)	PUNCT
asir-55155	210	11	,	,	PUNCT
asir-55155	210	12	415	415	NUM
asir-55155	210	13	-	-	SYM
asir-55155	210	14	439	439	NUM
asir-55155	210	15	.	.	PUNCT
asir-55155	211	1	zhang	zhang	PROPN
asir-55155	211	2	,	,	PUNCT
asir-55155	211	3	y.	y.	PROPN
asir-55155	211	4	,	,	PUNCT
asir-55155	211	5	&	&	CCONJ
asir-55155	211	6	liu	liu	PROPN
asir-55155	211	7	,	,	PUNCT
asir-55155	211	8	h.	h.	PROPN
asir-55155	211	9	(	(	PUNCT
asir-55155	211	10	2021	2021	NUM
asir-55155	211	11	)	)	PUNCT
asir-55155	211	12	.	.	PUNCT
asir-55155	212	1	governance	governance	NOUN
asir-55155	212	2	and	and	CCONJ
asir-55155	212	3	corporate	corporate	ADJ
asir-55155	212	4	financial	financial	ADJ
asir-55155	212	5	performance	performance	NOUN
asir-55155	212	6	:	:	PUNCT
asir-55155	212	7	evidence	evidence	NOUN
asir-55155	212	8	from	from	ADP
asir-55155	212	9	chinese	chinese	ADJ
asir-55155	212	10	high	high	ADJ
asir-55155	212	11	-	-	PUNCT
asir-55155	212	12	tech	tech	NOUN
asir-55155	212	13	firms	firm	NOUN
asir-55155	212	14	.	.	PUNCT
asir-55155	213	1	corporate	corporate	ADJ
asir-55155	213	2	governance	governance	NOUN
asir-55155	213	3	:	:	PUNCT
asir-55155	213	4	an	an	DET
asir-55155	213	5	international	international	ADJ
asir-55155	213	6	review	review	NOUN
asir-55155	213	7	,	,	PUNCT
asir-55155	213	8	29(2	29(2	NUM
asir-55155	213	9	)	)	PUNCT
asir-55155	213	10	,	,	PUNCT
asir-55155	213	11	189	189	NUM
asir-55155	213	12	-	-	SYM
asir-55155	213	13	203	203	NUM
asir-55155	213	14	.	.	PUNCT
asir-55155	214	1	zhou	zhou	PROPN
asir-55155	214	2	,	,	PUNCT
asir-55155	214	3	l.	l.	PROPN
asir-55155	214	4	,	,	PUNCT
asir-55155	214	5	&	&	CCONJ
asir-55155	214	6	jiang	jiang	PROPN
asir-55155	214	7	,	,	PUNCT
asir-55155	214	8	y.	y.	PROPN
asir-55155	214	9	(	(	PUNCT
asir-55155	214	10	2021	2021	NUM
asir-55155	214	11	)	)	PUNCT
asir-55155	214	12	.	.	PUNCT
asir-55155	215	1	corporate	corporate	ADJ
asir-55155	215	2	social	social	ADJ
asir-55155	215	3	responsibility	responsibility	NOUN
asir-55155	215	4	and	and	CCONJ
asir-55155	215	5	financial	financial	ADJ
asir-55155	215	6	performance	performance	NOUN
asir-55155	215	7	:	:	PUNCT
asir-55155	215	8	evidence	evidence	NOUN
asir-55155	215	9	from	from	ADP
asir-55155	215	10	chinese	chinese	ADJ
asir-55155	215	11	internet	internet	NOUN
asir-55155	215	12	companies	company	NOUN
asir-55155	215	13	.	.	PUNCT
asir-55155	216	1	asian	asian	ADJ
asir-55155	216	2	business	business	PROPN
asir-55155	216	3	&	&	CCONJ
asir-55155	216	4	management	management	PROPN
asir-55155	216	5	,	,	PUNCT
asir-55155	216	6	20(4	20(4	NOUN
asir-55155	216	7	)	)	PUNCT
asir-55155	216	8	,	,	PUNCT
asir-55155	216	9	455	455	NUM
asir-55155	216	10	-	-	SYM
asir-55155	216	11	474	474	NUM
asir-55155	216	12	.	.	PUNCT