id	sid	tid	token	lemma	pos
ajfa-11249	1	1	microsoft	microsoft	PROPN
ajfa-11249	1	2	word	word	NOUN
ajfa-11249	1	3	11249	11249	NUM
ajfa-11249	1	4	-	-	SYM
ajfa-11249	1	5	41806	41806	NUM
ajfa-11249	1	6	-	-	PUNCT
ajfa-11249	1	7	2	2	NUM
ajfa-11249	1	8	-	-	PUNCT
ajfa-11249	1	9	sm	sm	NOUN
ajfa-11249	1	10	-	-	PUNCT
ajfa-11249	1	11	writer2	writer2	VERB
ajfa-11249	1	12	-	-	ADJ
ajfa-11249	1	13	new	new	ADJ
ajfa-11249	1	14	-	-	PUNCT
ajfa-11249	1	15	final	final	ADJ
ajfa-11249	1	16	asian	asian	ADJ
ajfa-11249	1	17	journal	journal	NOUN
ajfa-11249	1	18	of	of	ADP
ajfa-11249	1	19	finance	finance	PROPN
ajfa-11249	1	20	&	&	CCONJ
ajfa-11249	1	21	accounting	accounting	PROPN
ajfa-11249	1	22	issn	issn	PROPN
ajfa-11249	1	23	1946	1946	NUM
ajfa-11249	1	24	-	-	PUNCT
ajfa-11249	1	25	052x	052x	PROPN
ajfa-11249	1	26	2017	2017	NUM
ajfa-11249	1	27	,	,	PUNCT
ajfa-11249	1	28	vol	vol	NOUN
ajfa-11249	1	29	.	.	NOUN
ajfa-11249	1	30	9	9	NUM
ajfa-11249	1	31	,	,	PUNCT
ajfa-11249	1	32	no	no	INTJ
ajfa-11249	1	33	.	.	NOUN
ajfa-11249	1	34	1	1	NUM
ajfa-11249	1	35	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-11249	1	36	448	448	NUM
ajfa-11249	1	37	the	the	DET
ajfa-11249	1	38	determinants	determinant	NOUN
ajfa-11249	1	39	of	of	ADP
ajfa-11249	1	40	foreign	foreign	ADJ
ajfa-11249	1	41	exchange	exchange	NOUN
ajfa-11249	1	42	exposure	exposure	NOUN
ajfa-11249	1	43	of	of	ADP
ajfa-11249	1	44	egx30	egx30	NOUN
ajfa-11249	1	45	companies	company	NOUN
ajfa-11249	1	46	"	"	PUNCT
ajfa-11249	1	47	an	an	DET
ajfa-11249	1	48	empirical	empirical	ADJ
ajfa-11249	1	49	study	study	NOUN
ajfa-11249	1	50	"	"	PUNCT
ajfa-11249	1	51	m.s.nada	m.s.nada	PROPN
ajfa-11249	1	52	professor	professor	NOUN
ajfa-11249	1	53	in	in	ADP
ajfa-11249	1	54	accounting	accounting	NOUN
ajfa-11249	1	55	,	,	PUNCT
ajfa-11249	1	56	faculty	faculty	NOUN
ajfa-11249	1	57	of	of	ADP
ajfa-11249	1	58	commerce	commerce	PROPN
ajfa-11249	1	59	,	,	PUNCT
ajfa-11249	1	60	ain	ain	PROPN
ajfa-11249	1	61	shams	sham	VERB
ajfa-11249	1	62	university	university	PROPN
ajfa-11249	1	63	e	e	NOUN
ajfa-11249	1	64	-	-	NOUN
ajfa-11249	1	65	mail	mail	NOUN
ajfa-11249	1	66	:	:	PUNCT
ajfa-11249	1	67	sabrynada@hotmail.com	sabrynada@hotmail.com	X
ajfa-11249	1	68	r.	r.	PROPN
ajfa-11249	1	69	e.	e.	PROPN
ajfa-11249	1	70	ibrahim	ibrahim	PROPN
ajfa-11249	1	71	assistant	assistant	PROPN
ajfa-11249	1	72	lecturer	lecturer	NOUN
ajfa-11249	1	73	in	in	ADP
ajfa-11249	1	74	accounting	accounting	NOUN
ajfa-11249	1	75	,	,	PUNCT
ajfa-11249	1	76	faculty	faculty	NOUN
ajfa-11249	1	77	of	of	ADP
ajfa-11249	1	78	commerce	commerce	PROPN
ajfa-11249	1	79	,	,	PUNCT
ajfa-11249	1	80	new	new	PROPN
ajfa-11249	1	81	cairo	cairo	PROPN
ajfa-11249	1	82	academy	academy	PROPN
ajfa-11249	1	83	e	e	PROPN
ajfa-11249	1	84	-	-	NOUN
ajfa-11249	1	85	mail	mail	NOUN
ajfa-11249	1	86	:	:	PUNCT
ajfa-11249	2	1	rehabemadeldeen@gmail.com	rehabemadeldeen@gmail.com	PROPN
ajfa-11249	2	2	received	receive	VERB
ajfa-11249	2	3	:	:	PUNCT
ajfa-11249	2	4	may13	may13	ADV
ajfa-11249	2	5	,	,	PUNCT
ajfa-11249	2	6	2017accepted	2017accepted	NUM
ajfa-11249	2	7	:	:	PUNCT
ajfa-11249	2	8	june28	june28	PROPN
ajfa-11249	2	9	,	,	PUNCT
ajfa-11249	2	10	2017	2017	NUM
ajfa-11249	2	11	published	publish	VERB
ajfa-11249	2	12	:	:	PUNCT
ajfa-11249	2	13	june	june	PROPN
ajfa-11249	2	14	28	28	NUM
ajfa-11249	2	15	,	,	PUNCT
ajfa-11249	2	16	2017	2017	NUM
ajfa-11249	2	17	doi:10.5296	doi:10.5296	NOUN
ajfa-11249	2	18	/	/	SYM
ajfa-11249	2	19	ajfa.v9i1.11249	ajfa.v9i1.11249	NUM
ajfa-11249	2	20	url	url	PROPN
ajfa-11249	2	21	:	:	PUNCT
ajfa-11249	2	22	https://doi.org/10.5296/ajfa.v9i1.11249	https://doi.org/10.5296/ajfa.v9i1.11249	PROPN
ajfa-11249	2	23	abstract	abstract	NOUN
ajfa-11249	2	24	this	this	DET
ajfa-11249	2	25	study	study	NOUN
ajfa-11249	2	26	aims	aim	VERB
ajfa-11249	2	27	to	to	PART
ajfa-11249	2	28	examine	examine	VERB
ajfa-11249	2	29	the	the	DET
ajfa-11249	2	30	evidence	evidence	NOUN
ajfa-11249	2	31	for	for	ADP
ajfa-11249	2	32	measuring	measure	VERB
ajfa-11249	2	33	the	the	DET
ajfa-11249	2	34	significance	significance	NOUN
ajfa-11249	2	35	of	of	ADP
ajfa-11249	2	36	foreign	foreign	ADJ
ajfa-11249	2	37	exchange	exchange	NOUN
ajfa-11249	2	38	exposure	exposure	NOUN
ajfa-11249	2	39	(	(	PUNCT
ajfa-11249	2	40	fxe	fxe	NOUN
ajfa-11249	2	41	)	)	PUNCT
ajfa-11249	2	42	for	for	ADP
ajfa-11249	2	43	egx30	egx30	NOUN
ajfa-11249	2	44	companies	company	NOUN
ajfa-11249	2	45	during	during	ADP
ajfa-11249	2	46	the	the	DET
ajfa-11249	2	47	period	period	NOUN
ajfa-11249	2	48	from	from	ADP
ajfa-11249	2	49	2000	2000	NUM
ajfa-11249	2	50	-	-	SYM
ajfa-11249	2	51	2016	2016	NUM
ajfa-11249	2	52	.	.	PUNCT
ajfa-11249	3	1	the	the	DET
ajfa-11249	3	2	problem	problem	NOUN
ajfa-11249	3	3	of	of	ADP
ajfa-11249	3	4	the	the	DET
ajfa-11249	3	5	study	study	NOUN
ajfa-11249	3	6	is	be	AUX
ajfa-11249	3	7	concerned	concern	VERB
ajfa-11249	3	8	with	with	ADP
ajfa-11249	3	9	the	the	DET
ajfa-11249	3	10	fluctuations	fluctuation	NOUN
ajfa-11249	3	11	of	of	ADP
ajfa-11249	3	12	the	the	DET
ajfa-11249	3	13	foreign	foreign	ADJ
ajfa-11249	3	14	exchange	exchange	NOUN
ajfa-11249	3	15	(	(	PUNCT
ajfa-11249	3	16	fx	fx	NOUN
ajfa-11249	3	17	)	)	PUNCT
ajfa-11249	3	18	rate	rate	NOUN
ajfa-11249	3	19	in	in	ADP
ajfa-11249	3	20	egypt	egypt	PROPN
ajfa-11249	3	21	,	,	PUNCT
ajfa-11249	3	22	which	which	PRON
ajfa-11249	3	23	have	have	VERB
ajfa-11249	3	24	a	a	DET
ajfa-11249	3	25	great	great	ADJ
ajfa-11249	3	26	effect	effect	NOUN
ajfa-11249	3	27	on	on	ADP
ajfa-11249	3	28	the	the	DET
ajfa-11249	3	29	financial	financial	ADJ
ajfa-11249	3	30	performance	performance	NOUN
ajfa-11249	3	31	of	of	ADP
ajfa-11249	3	32	egx30	egx30	NOUN
ajfa-11249	3	33	companies	company	NOUN
ajfa-11249	3	34	.	.	PUNCT
ajfa-11249	4	1	following	follow	VERB
ajfa-11249	4	2	prior	prior	ADJ
ajfa-11249	4	3	studies	study	NOUN
ajfa-11249	4	4	(	(	PUNCT
ajfa-11249	4	5	e.g.	e.g.	ADV
ajfa-11249	4	6	aggarwal	aggarwal	PROPN
ajfa-11249	4	7	r.	r.	PROPN
ajfa-11249	4	8	,	,	PUNCT
ajfa-11249	4	9	2010	2010	NUM
ajfa-11249	4	10	;	;	PUNCT
ajfa-11249	4	11	lee	lee	PROPN
ajfa-11249	4	12	,	,	PUNCT
ajfa-11249	4	13	2011	2011	NUM
ajfa-11249	4	14	and	and	CCONJ
ajfa-11249	4	15	sam	sam	PROPN
ajfa-11249	4	16	agyei	agyei	PROPN
ajfa-11249	4	17	-	-	PUNCT
ajfa-11249	4	18	ampomah	ampomah	PROPN
ajfa-11249	4	19	k.	k.	PROPN
ajfa-11249	4	20	m.	m.	PROPN
ajfa-11249	4	21	,	,	PUNCT
ajfa-11249	4	22	2012	2012	NUM
ajfa-11249	4	23	)	)	PUNCT
ajfa-11249	4	24	,	,	PUNCT
ajfa-11249	4	25	this	this	DET
ajfa-11249	4	26	study	study	NOUN
ajfa-11249	4	27	uses	use	VERB
ajfa-11249	4	28	fama	fama	NOUN
ajfa-11249	4	29	-	-	PUNCT
ajfa-11249	4	30	french	french	NOUN
ajfa-11249	4	31	(	(	PUNCT
ajfa-11249	4	32	ff	ff	NOUN
ajfa-11249	4	33	)	)	PUNCT
ajfa-11249	4	34	model	model	NOUN
ajfa-11249	4	35	to	to	PART
ajfa-11249	4	36	measure	measure	VERB
ajfa-11249	4	37	the	the	DET
ajfa-11249	4	38	fxe.the	fxe.the	ADJ
ajfa-11249	4	39	resultof	resultof	NOUN
ajfa-11249	4	40	the	the	DET
ajfa-11249	4	41	study	study	NOUN
ajfa-11249	4	42	shows	show	VERB
ajfa-11249	4	43	that	that	SCONJ
ajfa-11249	4	44	70	70	NUM
ajfa-11249	4	45	%	%	NOUN
ajfa-11249	4	46	of	of	ADP
ajfa-11249	4	47	egx30	egx30	NOUN
ajfa-11249	4	48	companies	company	NOUN
ajfa-11249	4	49	were	be	AUX
ajfa-11249	4	50	significant	significant	ADJ
ajfa-11249	4	51	to	to	ADP
ajfa-11249	4	52	the	the	DET
ajfa-11249	4	53	foreign	foreign	ADJ
ajfa-11249	4	54	exchange	exchange	NOUN
ajfa-11249	4	55	exposure	exposure	NOUN
ajfa-11249	4	56	;	;	PUNCT
ajfa-11249	4	57	the	the	DET
ajfa-11249	4	58	results	result	NOUN
ajfa-11249	4	59	are	be	AUX
ajfa-11249	4	60	robust	robust	ADJ
ajfa-11249	4	61	to	to	ADP
ajfa-11249	4	62	the	the	DET
ajfa-11249	4	63	choice	choice	NOUN
ajfa-11249	4	64	of	of	ADP
ajfa-11249	4	65	model	model	NOUN
ajfa-11249	4	66	design	design	NOUN
ajfa-11249	4	67	.	.	PUNCT
ajfa-11249	5	1	keywords	keyword	NOUN
ajfa-11249	5	2	:	:	PUNCT
ajfa-11249	5	3	foreign	foreign	ADJ
ajfa-11249	5	4	exchange	exchange	NOUN
ajfa-11249	5	5	exposure	exposure	NOUN
ajfa-11249	5	6	,	,	PUNCT
ajfa-11249	5	7	egx30	egx30	NOUN
ajfa-11249	5	8	companies	company	NOUN
ajfa-11249	5	9	,	,	PUNCT
ajfa-11249	5	10	fama	fama	PROPN
ajfa-11249	5	11	-	-	PUNCT
ajfa-11249	5	12	french	french	ADJ
ajfa-11249	5	13	model	model	NOUN
ajfa-11249	5	14	,	,	PUNCT
ajfa-11249	5	15	financial	financial	ADJ
ajfa-11249	5	16	performance	performance	NOUN
ajfa-11249	5	17	,	,	PUNCT
ajfa-11249	5	18	foreign	foreign	ADJ
ajfa-11249	5	19	exchange	exchange	NOUN
ajfa-11249	5	20	rate	rate	NOUN
ajfa-11249	5	21	.	.	PUNCT
ajfa-11249	6	1	asian	asian	ADJ
ajfa-11249	6	2	journal	journal	PROPN
ajfa-11249	6	3	of	of	ADP
ajfa-11249	6	4	finance	finance	PROPN
ajfa-11249	6	5	&	&	CCONJ
ajfa-11249	6	6	accounting	accounting	PROPN
ajfa-11249	6	7	issn	issn	PROPN
ajfa-11249	6	8	1946	1946	NUM
ajfa-11249	6	9	-	-	PUNCT
ajfa-11249	6	10	052x	052x	PROPN
ajfa-11249	6	11	2017	2017	NUM
ajfa-11249	6	12	,	,	PUNCT
ajfa-11249	6	13	vol	vol	NOUN
ajfa-11249	6	14	.	.	NOUN
ajfa-11249	6	15	9	9	NUM
ajfa-11249	6	16	,	,	PUNCT
ajfa-11249	6	17	no	no	INTJ
ajfa-11249	6	18	.	.	NOUN
ajfa-11249	6	19	1	1	NUM
ajfa-11249	6	20	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-11249	6	21	449	449	NUM
ajfa-11249	6	22	1	1	NUM
ajfa-11249	6	23	.	.	PUNCT
ajfa-11249	7	1	introduction	introduction	NOUN
ajfa-11249	7	2	foreign	foreign	ADJ
ajfa-11249	7	3	exchange	exchange	NOUN
ajfa-11249	7	4	exposure	exposure	NOUN
ajfa-11249	7	5	(	(	PUNCT
ajfa-11249	7	6	fxe	fxe	NOUN
ajfa-11249	7	7	)	)	PUNCT
ajfa-11249	7	8	has	have	AUX
ajfa-11249	7	9	been	be	AUX
ajfa-11249	7	10	widely	widely	ADV
ajfa-11249	7	11	discussed	discuss	VERB
ajfa-11249	7	12	recently	recently	ADV
ajfa-11249	7	13	due	due	ADP
ajfa-11249	7	14	to	to	ADP
ajfa-11249	7	15	the	the	DET
ajfa-11249	7	16	high	high	ADJ
ajfa-11249	7	17	fluctuations	fluctuation	NOUN
ajfa-11249	7	18	in	in	ADP
ajfa-11249	7	19	the	the	DET
ajfa-11249	7	20	fx	fx	NOUN
ajfa-11249	7	21	rate	rate	NOUN
ajfa-11249	7	22	.	.	PUNCT
ajfa-11249	8	1	the	the	DET
ajfa-11249	8	2	most	most	ADV
ajfa-11249	8	3	dangerous	dangerous	ADJ
ajfa-11249	8	4	effect	effect	NOUN
ajfa-11249	8	5	of	of	ADP
ajfa-11249	8	6	the	the	DET
ajfa-11249	8	7	fxe	fxe	NOUN
ajfa-11249	8	8	is	be	AUX
ajfa-11249	8	9	that	that	SCONJ
ajfa-11249	8	10	it	it	PRON
ajfa-11249	8	11	makes	make	VERB
ajfa-11249	8	12	the	the	DET
ajfa-11249	8	13	company	company	NOUN
ajfa-11249	8	14	more	more	ADV
ajfa-11249	8	15	exposed	expose	VERB
ajfa-11249	8	16	to	to	ADP
ajfa-11249	8	17	bankruptcy	bankruptcy	NOUN
ajfa-11249	8	18	during	during	ADP
ajfa-11249	8	19	the	the	DET
ajfa-11249	8	20	fluctuation	fluctuation	NOUN
ajfa-11249	8	21	of	of	ADP
ajfa-11249	8	22	the	the	DET
ajfa-11249	8	23	fx	fx	NOUN
ajfa-11249	8	24	rate	rate	NOUN
ajfa-11249	8	25	.	.	PUNCT
ajfa-11249	9	1	therefore	therefore	ADV
ajfa-11249	9	2	,	,	PUNCT
ajfa-11249	9	3	in	in	ADP
ajfa-11249	9	4	order	order	NOUN
ajfa-11249	9	5	to	to	PART
ajfa-11249	9	6	grow	grow	VERB
ajfa-11249	9	7	and	and	CCONJ
ajfa-11249	9	8	compete	compete	VERB
ajfa-11249	9	9	in	in	ADP
ajfa-11249	9	10	the	the	DET
ajfa-11249	9	11	market	market	NOUN
ajfa-11249	9	12	,	,	PUNCT
ajfa-11249	9	13	companies	company	NOUN
ajfa-11249	9	14	need	need	VERB
ajfa-11249	9	15	to	to	PART
ajfa-11249	9	16	improve	improve	VERB
ajfa-11249	9	17	their	their	PRON
ajfa-11249	9	18	protection	protection	NOUN
ajfa-11249	9	19	against	against	ADP
ajfa-11249	9	20	the	the	DET
ajfa-11249	9	21	fluctuation	fluctuation	NOUN
ajfa-11249	9	22	in	in	ADP
ajfa-11249	9	23	the	the	DET
ajfa-11249	9	24	fx	fx	NOUN
ajfa-11249	9	25	rate	rate	NOUN
ajfa-11249	9	26	.	.	PUNCT
ajfa-11249	10	1	fxe	fxe	NOUN
ajfa-11249	10	2	has	have	AUX
ajfa-11249	10	3	been	be	AUX
ajfa-11249	10	4	studied	study	VERB
ajfa-11249	10	5	by	by	ADP
ajfa-11249	10	6	several	several	ADJ
ajfa-11249	10	7	authors	author	NOUN
ajfa-11249	10	8	.	.	PUNCT
ajfa-11249	11	1	these	these	DET
ajfa-11249	11	2	authors	author	NOUN
ajfa-11249	11	3	arrived	arrive	VERB
ajfa-11249	11	4	at	at	ADP
ajfa-11249	11	5	different	different	ADJ
ajfa-11249	11	6	conclusions	conclusion	NOUN
ajfa-11249	11	7	using	use	VERB
ajfa-11249	11	8	different	different	ADJ
ajfa-11249	11	9	approaches	approach	NOUN
ajfa-11249	11	10	.	.	PUNCT
ajfa-11249	12	1	as	as	SCONJ
ajfa-11249	12	2	(	(	PUNCT
ajfa-11249	12	3	mwangi	mwangi	PROPN
ajfa-11249	12	4	j.	j.	PROPN
ajfa-11249	12	5	w.	w.	PROPN
ajfa-11249	12	6	,	,	PUNCT
ajfa-11249	12	7	2015)measured	2015)measure	VERB
ajfa-11249	12	8	the	the	DET
ajfa-11249	12	9	fxe	fxe	NOUN
ajfa-11249	12	10	through	through	ADP
ajfa-11249	12	11	measuring	measure	VERB
ajfa-11249	12	12	the	the	DET
ajfa-11249	12	13	types	type	NOUN
ajfa-11249	12	14	of	of	ADP
ajfa-11249	12	15	the	the	DET
ajfa-11249	12	16	fxe	fxe	NOUN
ajfa-11249	12	17	(	(	PUNCT
ajfa-11249	12	18	transactiontranslation	transactiontranslation	NOUN
ajfa-11249	12	19	and	and	CCONJ
ajfa-11249	12	20	economic	economic	ADJ
ajfa-11249	12	21	exposure	exposure	NOUN
ajfa-11249	12	22	)	)	PUNCT
ajfa-11249	12	23	applying	apply	VERB
ajfa-11249	12	24	it	it	PRON
ajfa-11249	12	25	on	on	ADP
ajfa-11249	12	26	the	the	DET
ajfa-11249	12	27	oil	oil	NOUN
ajfa-11249	12	28	marketing	marketing	NOUN
ajfa-11249	12	29	companies	company	NOUN
ajfa-11249	12	30	and	and	CCONJ
ajfa-11249	12	31	(	(	PUNCT
ajfa-11249	12	32	peter	peter	PROPN
ajfa-11249	12	33	blum	blum	PROPN
ajfa-11249	12	34	,	,	PUNCT
ajfa-11249	12	35	2001	2001	NUM
ajfa-11249	12	36	)	)	PUNCT
ajfa-11249	12	37	applying	apply	VERB
ajfa-11249	12	38	it	it	PRON
ajfa-11249	12	39	on	on	ADP
ajfa-11249	12	40	the	the	DET
ajfa-11249	12	41	reinsurance	reinsurance	NOUN
ajfa-11249	12	42	companies	company	NOUN
ajfa-11249	12	43	.	.	PUNCT
ajfa-11249	13	1	moreover	moreover	ADV
ajfa-11249	13	2	,	,	PUNCT
ajfa-11249	13	3	some	some	DET
ajfa-11249	13	4	studies	study	NOUN
ajfa-11249	13	5	measured	measure	VERB
ajfa-11249	13	6	the	the	DET
ajfa-11249	13	7	fxe	fxe	NOUN
ajfa-11249	13	8	using	use	VERB
ajfa-11249	13	9	the	the	DET
ajfa-11249	13	10	foreign	foreign	ADJ
ajfa-11249	13	11	sales	sale	NOUN
ajfa-11249	13	12	and	and	CCONJ
ajfa-11249	13	13	liability	liability	NOUN
ajfa-11249	13	14	model	model	NOUN
ajfa-11249	13	15	dependent	dependent	ADJ
ajfa-11249	13	16	and	and	CCONJ
ajfa-11249	13	17	cross	cross	ADJ
ajfa-11249	13	18	-	-	ADJ
ajfa-11249	13	19	sectional	sectional	ADJ
ajfa-11249	13	20	model	model	NOUN
ajfa-11249	13	21	such	such	ADJ
ajfa-11249	13	22	as	as	ADP
ajfa-11249	13	23	(	(	PUNCT
ajfa-11249	13	24	ngarifrancis	ngarifrancis	PROPN
ajfa-11249	13	25	gachua	gachua	NOUN
ajfa-11249	13	26	,	,	PUNCT
ajfa-11249	13	27	2011	2011	NUM
ajfa-11249	13	28	)	)	PUNCT
ajfa-11249	13	29	and	and	CCONJ
ajfa-11249	13	30	(	(	PUNCT
ajfa-11249	13	31	lee	lee	PROPN
ajfa-11249	13	32	,	,	PUNCT
ajfa-11249	13	33	2011)applying	2011)applye	VERB
ajfa-11249	13	34	it	it	PRON
ajfa-11249	13	35	on	on	ADP
ajfa-11249	13	36	the	the	DET
ajfa-11249	13	37	listed	list	VERB
ajfa-11249	13	38	companies	company	NOUN
ajfa-11249	13	39	and	and	CCONJ
ajfa-11249	13	40	u.s	u.s	PROPN
ajfa-11249	13	41	multinational	multinational	ADJ
ajfa-11249	13	42	companies	company	NOUN
ajfa-11249	13	43	respectively	respectively	ADV
ajfa-11249	13	44	.	.	PUNCT
ajfa-11249	14	1	however	however	ADV
ajfa-11249	14	2	,	,	PUNCT
ajfa-11249	14	3	(	(	PUNCT
ajfa-11249	14	4	raj	raj	PROPN
ajfa-11249	14	5	aggarwal	aggarwal	PROPN
ajfa-11249	14	6	j.	j.	PROPN
ajfa-11249	14	7	t.	t.	PROPN
ajfa-11249	14	8	,	,	PUNCT
ajfa-11249	14	9	2010	2010	NUM
ajfa-11249	14	10	,	,	PUNCT
ajfa-11249	14	11	pp	pp	ADJ
ajfa-11249	14	12	.	.	PUNCT
ajfa-11249	15	1	1619	1619	NUM
ajfa-11249	15	2	-	-	SYM
ajfa-11249	15	3	1636	1636	NUM
ajfa-11249	15	4	)	)	PUNCT
ajfa-11249	15	5	approved	approve	VERB
ajfa-11249	15	6	that	that	SCONJ
ajfa-11249	15	7	the	the	DET
ajfa-11249	15	8	domestic	domestic	ADJ
ajfa-11249	15	9	companies	company	NOUN
ajfa-11249	15	10	face	face	VERB
ajfa-11249	15	11	a	a	DET
ajfa-11249	15	12	fxe	fxe	NOUN
ajfa-11249	15	13	not	not	PART
ajfa-11249	15	14	less	less	ADJ
ajfa-11249	15	15	than	than	ADP
ajfa-11249	15	16	the	the	DET
ajfa-11249	15	17	multinational	multinational	ADJ
ajfa-11249	15	18	companies	company	NOUN
ajfa-11249	15	19	,	,	PUNCT
ajfa-11249	15	20	and	and	CCONJ
ajfa-11249	15	21	he	he	PRON
ajfa-11249	15	22	measured	measure	VERB
ajfa-11249	15	23	the	the	DET
ajfa-11249	15	24	indirect	indirect	ADJ
ajfa-11249	15	25	fxe	fxe	NOUN
ajfa-11249	15	26	of	of	ADP
ajfa-11249	15	27	the	the	DET
ajfa-11249	15	28	u.s	u.s	PROPN
ajfa-11249	15	29	domestic	domestic	ADJ
ajfa-11249	15	30	companies	company	NOUN
ajfa-11249	15	31	using	use	VERB
ajfa-11249	15	32	ff	ff	PROPN
ajfa-11249	15	33	model	model	NOUN
ajfa-11249	15	34	.	.	PUNCT
ajfa-11249	16	1	other	other	ADJ
ajfa-11249	16	2	studies	study	NOUN
ajfa-11249	16	3	such	such	ADJ
ajfa-11249	16	4	as	as	ADP
ajfa-11249	16	5	(	(	PUNCT
ajfa-11249	16	6	sam	sam	PROPN
ajfa-11249	16	7	agyei	agyei	PROPN
ajfa-11249	16	8	-	-	PUNCT
ajfa-11249	16	9	ampomah	ampomah	PROPN
ajfa-11249	16	10	k.	k.	PROPN
ajfa-11249	16	11	m.	m.	PROPN
ajfa-11249	16	12	,	,	PUNCT
ajfa-11249	16	13	2012	2012	NUM
ajfa-11249	16	14	,	,	PUNCT
ajfa-11249	16	15	pp	pp	X
ajfa-11249	16	16	.	.	PUNCT
ajfa-11249	17	1	251–260	251–260	NUM
ajfa-11249	17	2	)	)	PUNCT
ajfa-11249	17	3	and	and	CCONJ
ajfa-11249	17	4	(	(	PUNCT
ajfa-11249	17	5	d'almeida	d'almeida	PROPN
ajfa-11249	17	6	,	,	PUNCT
ajfa-11249	17	7	dec	dec	PROPN
ajfa-11249	17	8	.	.	PROPN
ajfa-11249	17	9	2016	2016	NUM
ajfa-11249	17	10	)	)	PUNCT
ajfa-11249	17	11	used	use	VERB
ajfa-11249	17	12	jorianand	jorianand	NOUN
ajfa-11249	17	13	ff	ff	PROPN
ajfa-11249	17	14	model	model	NOUN
ajfa-11249	17	15	to	to	PART
ajfa-11249	17	16	measure	measure	VERB
ajfa-11249	17	17	the	the	DET
ajfa-11249	17	18	effect	effect	NOUN
ajfa-11249	17	19	of	of	ADP
ajfa-11249	17	20	the	the	DET
ajfa-11249	17	21	fxe	fxe	NOUN
ajfa-11249	17	22	on	on	ADP
ajfa-11249	17	23	the	the	DET
ajfa-11249	17	24	financial	financial	ADJ
ajfa-11249	17	25	performance	performance	NOUN
ajfa-11249	17	26	of	of	ADP
ajfa-11249	17	27	the	the	DET
ajfa-11249	17	28	u.k	u.k	PROPN
ajfa-11249	17	29	non	non	ADJ
ajfa-11249	17	30	-	-	ADJ
ajfa-11249	17	31	financial	financial	ADJ
ajfa-11249	17	32	companies	company	NOUN
ajfa-11249	17	33	.	.	PUNCT
ajfa-11249	18	1	the	the	DET
ajfa-11249	18	2	study	study	NOUN
ajfa-11249	18	3	will	will	AUX
ajfa-11249	18	4	cover	cover	VERB
ajfa-11249	18	5	some	some	PRON
ajfa-11249	18	6	of	of	ADP
ajfa-11249	18	7	the	the	DET
ajfa-11249	18	8	most	most	ADV
ajfa-11249	18	9	important	important	ADJ
ajfa-11249	18	10	cases	case	NOUN
ajfa-11249	18	11	,	,	PUNCT
ajfa-11249	18	12	asit	asit	NOUN
ajfa-11249	18	13	focuses	focus	VERB
ajfa-11249	18	14	on	on	ADP
ajfa-11249	18	15	the	the	DET
ajfa-11249	18	16	stock	stock	NOUN
ajfa-11249	18	17	market	market	NOUN
ajfa-11249	18	18	because	because	SCONJ
ajfa-11249	18	19	of	of	ADP
ajfa-11249	18	20	the	the	DET
ajfa-11249	18	21	high	high	ADJ
ajfa-11249	18	22	uncertainty	uncertainty	NOUN
ajfa-11249	18	23	of	of	ADP
ajfa-11249	18	24	their	their	PRON
ajfa-11249	18	25	prices	price	NOUN
ajfa-11249	18	26	and	and	CCONJ
ajfa-11249	18	27	their	their	PRON
ajfa-11249	18	28	high	high	ADJ
ajfa-11249	18	29	effect	effect	NOUN
ajfa-11249	18	30	on	on	ADP
ajfa-11249	18	31	the	the	DET
ajfa-11249	18	32	economic	economic	ADJ
ajfa-11249	18	33	growth	growth	NOUN
ajfa-11249	18	34	through	through	ADP
ajfa-11249	18	35	different	different	ADJ
ajfa-11249	18	36	channels.our	channels.our	NUM
ajfa-11249	18	37	study	study	NOUN
ajfa-11249	18	38	will	will	AUX
ajfa-11249	18	39	also	also	ADV
ajfa-11249	18	40	focus	focus	VERB
ajfa-11249	18	41	on	on	ADP
ajfa-11249	18	42	the	the	DET
ajfa-11249	18	43	indirect	indirect	ADJ
ajfa-11249	18	44	effect	effect	NOUN
ajfa-11249	18	45	of	of	ADP
ajfa-11249	18	46	the	the	DET
ajfa-11249	18	47	fxe	fxe	NOUN
ajfa-11249	18	48	on	on	ADP
ajfa-11249	18	49	egx30	egx30	NOUN
ajfa-11249	18	50	companies	company	NOUN
ajfa-11249	18	51	for	for	ADP
ajfa-11249	18	52	two	two	NUM
ajfa-11249	18	53	reasons	reason	NOUN
ajfa-11249	18	54	;	;	PUNCT
ajfa-11249	18	55	first	first	X
ajfa-11249	18	56	,	,	PUNCT
ajfa-11249	18	57	egx30	egx30	NOUN
ajfa-11249	18	58	companies	company	NOUN
ajfa-11249	18	59	did	do	AUX
ajfa-11249	18	60	not	not	PART
ajfa-11249	18	61	disclose	disclose	VERB
ajfa-11249	18	62	the	the	DET
ajfa-11249	18	63	foreign	foreign	ADJ
ajfa-11249	18	64	currency	currency	NOUN
ajfa-11249	18	65	operations	operation	NOUN
ajfa-11249	18	66	in	in	ADP
ajfa-11249	18	67	their	their	PRON
ajfa-11249	18	68	financial	financial	ADJ
ajfa-11249	18	69	statement	statement	NOUN
ajfa-11249	18	70	,	,	PUNCT
ajfa-11249	18	71	second	second	ADJ
ajfa-11249	18	72	,	,	PUNCT
ajfa-11249	18	73	high	high	ADJ
ajfa-11249	18	74	globalization	globalization	NOUN
ajfa-11249	18	75	of	of	ADP
ajfa-11249	18	76	financial	financial	ADJ
ajfa-11249	18	77	and	and	CCONJ
ajfa-11249	18	78	product	product	NOUN
ajfa-11249	18	79	markets	market	NOUN
ajfa-11249	18	80	will	will	AUX
ajfa-11249	18	81	increase	increase	VERB
ajfa-11249	18	82	the	the	DET
ajfa-11249	18	83	competition	competition	NOUN
ajfa-11249	18	84	with	with	ADP
ajfa-11249	18	85	the	the	DET
ajfa-11249	18	86	foreign	foreign	ADJ
ajfa-11249	18	87	and	and	CCONJ
ajfa-11249	18	88	international	international	ADJ
ajfa-11249	18	89	companies	company	NOUN
ajfa-11249	18	90	.	.	PUNCT
ajfa-11249	19	1	the	the	DET
ajfa-11249	19	2	reminder	reminder	NOUN
ajfa-11249	19	3	of	of	ADP
ajfa-11249	19	4	the	the	DET
ajfa-11249	19	5	paper	paper	NOUN
ajfa-11249	19	6	is	be	AUX
ajfa-11249	19	7	structured	structure	VERB
ajfa-11249	19	8	as	as	SCONJ
ajfa-11249	19	9	follows	follow	VERB
ajfa-11249	19	10	:	:	PUNCT
ajfa-11249	19	11	section	section	NOUN
ajfa-11249	19	12	2	2	NUM
ajfa-11249	19	13	is	be	AUX
ajfa-11249	19	14	the	the	DET
ajfa-11249	19	15	problem	problem	NOUN
ajfa-11249	19	16	identification	identification	NOUN
ajfa-11249	19	17	.	.	PUNCT
ajfa-11249	20	1	section	section	NOUN
ajfa-11249	20	2	3	3	NUM
ajfa-11249	20	3	is	be	AUX
ajfa-11249	20	4	the	the	DET
ajfa-11249	20	5	objective	objective	NOUN
ajfa-11249	20	6	of	of	ADP
ajfa-11249	20	7	the	the	DET
ajfa-11249	20	8	study	study	NOUN
ajfa-11249	20	9	.	.	PUNCT
ajfa-11249	21	1	section	section	NOUN
ajfa-11249	21	2	4	4	NUM
ajfa-11249	21	3	is	be	AUX
ajfa-11249	21	4	the	the	DET
ajfa-11249	21	5	literature	literature	PROPN
ajfa-11249	21	6	review	review	PROPN
ajfa-11249	21	7	.	.	PUNCT
ajfa-11249	22	1	section	section	NOUN
ajfa-11249	22	2	5	5	NUM
ajfa-11249	22	3	is	be	AUX
ajfa-11249	22	4	the	the	DET
ajfa-11249	22	5	data	datum	NOUN
ajfa-11249	22	6	and	and	CCONJ
ajfa-11249	22	7	methodology	methodology	NOUN
ajfa-11249	22	8	.	.	PUNCT
ajfa-11249	23	1	section	section	NOUN
ajfa-11249	23	2	6	6	NUM
ajfa-11249	23	3	is	be	AUX
ajfa-11249	23	4	the	the	DET
ajfa-11249	23	5	empirical	empirical	ADJ
ajfa-11249	23	6	result	result	NOUN
ajfa-11249	23	7	.	.	PUNCT
ajfa-11249	24	1	the	the	DET
ajfa-11249	24	2	paper	paper	NOUN
ajfa-11249	24	3	ends	end	VERB
ajfa-11249	24	4	with	with	ADP
ajfa-11249	24	5	section	section	NOUN
ajfa-11249	24	6	7	7	NUM
ajfa-11249	24	7	where	where	SCONJ
ajfa-11249	24	8	we	we	PRON
ajfa-11249	24	9	present	present	VERB
ajfa-11249	24	10	the	the	DET
ajfa-11249	24	11	summary	summary	NOUN
ajfa-11249	24	12	and	and	CCONJ
ajfa-11249	24	13	conclusion	conclusion	NOUN
ajfa-11249	24	14	.	.	PUNCT
ajfa-11249	25	1	2.problem	2.problem	NUM
ajfa-11249	25	2	identification	identification	NOUN
ajfa-11249	25	3	the	the	DET
ajfa-11249	25	4	problem	problem	NOUN
ajfa-11249	25	5	of	of	ADP
ajfa-11249	25	6	the	the	DET
ajfa-11249	25	7	study	study	NOUN
ajfa-11249	25	8	is	be	AUX
ajfa-11249	25	9	that	that	SCONJ
ajfa-11249	25	10	the	the	DET
ajfa-11249	25	11	fluctuations	fluctuation	NOUN
ajfa-11249	25	12	of	of	ADP
ajfa-11249	25	13	the	the	DET
ajfa-11249	25	14	fx	fx	NOUN
ajfa-11249	25	15	rate	rate	NOUN
ajfa-11249	25	16	(	(	PUNCT
ajfa-11249	25	17	jump	jump	VERB
ajfa-11249	25	18	from	from	ADP
ajfa-11249	25	19	l.e	l.e	PROPN
ajfa-11249	25	20	3.55/$	3.55/$	NUM
ajfa-11249	25	21	in	in	ADP
ajfa-11249	25	22	2000	2000	NUM
ajfa-11249	25	23	to	to	PART
ajfa-11249	25	24	l.e	l.e	VERB
ajfa-11249	25	25	17.929/$	17.929/$	NOUN
ajfa-11249	25	26	in	in	ADP
ajfa-11249	25	27	2016	2016	NUM
ajfa-11249	25	28	)	)	PUNCT
ajfa-11249	25	29	may	may	AUX
ajfa-11249	25	30	harm	harm	VERB
ajfa-11249	25	31	the	the	DET
ajfa-11249	25	32	financial	financial	ADJ
ajfa-11249	25	33	performance	performance	NOUN
ajfa-11249	25	34	of	of	ADP
ajfa-11249	25	35	egx30	egx30	NOUN
ajfa-11249	25	36	companies	company	NOUN
ajfa-11249	25	37	.	.	PUNCT
ajfa-11249	26	1	moreover	moreover	ADV
ajfa-11249	26	2	,	,	PUNCT
ajfa-11249	26	3	egx30	egx30	NOUN
ajfa-11249	26	4	companies	company	NOUN
ajfa-11249	26	5	did	do	AUX
ajfa-11249	26	6	not	not	PART
ajfa-11249	26	7	have	have	VERB
ajfa-11249	26	8	a	a	DET
ajfa-11249	26	9	basis	basis	NOUN
ajfa-11249	26	10	to	to	PART
ajfa-11249	26	11	measure	measure	VERB
ajfa-11249	26	12	the	the	DET
ajfa-11249	26	13	determinants	determinant	NOUN
ajfa-11249	26	14	of	of	ADP
ajfa-11249	26	15	the	the	DET
ajfa-11249	26	16	fxe	fxe	NOUN
ajfa-11249	26	17	in	in	ADP
ajfa-11249	26	18	order	order	NOUN
ajfa-11249	26	19	to	to	PART
ajfa-11249	26	20	mitigate	mitigate	VERB
ajfa-11249	26	21	its	its	PRON
ajfa-11249	26	22	risk	risk	NOUN
ajfa-11249	26	23	.	.	PUNCT
ajfa-11249	27	1	3	3	X
ajfa-11249	27	2	.	.	X
ajfa-11249	27	3	objective	objective	NOUN
ajfa-11249	27	4	of	of	ADP
ajfa-11249	27	5	the	the	DET
ajfa-11249	27	6	study	study	NOUN
ajfa-11249	27	7	the	the	DET
ajfa-11249	27	8	most	most	ADV
ajfa-11249	27	9	important	important	ADJ
ajfa-11249	27	10	aim	aim	NOUN
ajfa-11249	27	11	is	be	AUX
ajfa-11249	27	12	to	to	PART
ajfa-11249	27	13	examine	examine	VERB
ajfa-11249	27	14	the	the	DET
ajfa-11249	27	15	significance	significance	NOUN
ajfa-11249	27	16	of	of	ADP
ajfa-11249	27	17	the	the	DET
ajfa-11249	27	18	fxe	fxe	NOUN
ajfa-11249	27	19	in	in	ADP
ajfa-11249	27	20	the	the	DET
ajfa-11249	27	21	egx30	egx30	NOUN
ajfa-11249	27	22	companies	company	NOUN
ajfa-11249	27	23	.	.	PUNCT
ajfa-11249	28	1	moreover	moreover	ADV
ajfa-11249	28	2	,	,	PUNCT
ajfa-11249	28	3	the	the	DET
ajfa-11249	28	4	specific	specific	ADJ
ajfa-11249	28	5	objectives	objective	NOUN
ajfa-11249	28	6	of	of	ADP
ajfa-11249	28	7	the	the	DET
ajfa-11249	28	8	study	study	NOUN
ajfa-11249	28	9	are	be	AUX
ajfa-11249	28	10	as	as	SCONJ
ajfa-11249	28	11	follows	follow	VERB
ajfa-11249	28	12	:	:	PUNCT
ajfa-11249	28	13	•	•	NUM
ajfa-11249	28	14	measure	measure	VERB
ajfa-11249	28	15	the	the	DET
ajfa-11249	28	16	fxe	fxe	NOUN
ajfa-11249	28	17	to	to	PART
ajfa-11249	28	18	mitigate	mitigate	VERB
ajfa-11249	28	19	the	the	DET
ajfa-11249	28	20	risk	risk	NOUN
ajfa-11249	28	21	of	of	ADP
ajfa-11249	28	22	losses	loss	NOUN
ajfa-11249	28	23	generated	generate	VERB
ajfa-11249	28	24	from	from	ADP
ajfa-11249	28	25	the	the	DET
ajfa-11249	28	26	fx	fx	PROPN
ajfa-11249	28	27	rate	rate	NOUN
ajfa-11249	28	28	fluctuation	fluctuation	NOUN
ajfa-11249	28	29	.	.	PUNCT
ajfa-11249	29	1	asian	asian	ADJ
ajfa-11249	29	2	journal	journal	PROPN
ajfa-11249	29	3	of	of	ADP
ajfa-11249	29	4	finance	finance	PROPN
ajfa-11249	29	5	&	&	CCONJ
ajfa-11249	29	6	accounting	accounting	PROPN
ajfa-11249	29	7	issn	issn	PROPN
ajfa-11249	29	8	1946	1946	NUM
ajfa-11249	29	9	-	-	PUNCT
ajfa-11249	29	10	052x	052x	PROPN
ajfa-11249	29	11	2017	2017	NUM
ajfa-11249	29	12	,	,	PUNCT
ajfa-11249	29	13	vol	vol	NOUN
ajfa-11249	29	14	.	.	NOUN
ajfa-11249	29	15	9	9	NUM
ajfa-11249	29	16	,	,	PUNCT
ajfa-11249	29	17	no	no	INTJ
ajfa-11249	29	18	.	.	NOUN
ajfa-11249	29	19	1	1	NUM
ajfa-11249	29	20	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-11249	29	21	450	450	NUM
ajfa-11249	29	22	•	•	NUM
ajfa-11249	29	23	identify	identify	VERB
ajfa-11249	29	24	the	the	DET
ajfa-11249	29	25	most	most	ADV
ajfa-11249	29	26	important	important	ADJ
ajfa-11249	29	27	variables	variable	NOUN
ajfa-11249	29	28	that	that	PRON
ajfa-11249	29	29	determine	determine	VERB
ajfa-11249	29	30	the	the	DET
ajfa-11249	29	31	fxe	fxe	NOUN
ajfa-11249	29	32	.	.	PUNCT
ajfa-11249	30	1	•	•	NUM
ajfa-11249	30	2	investigate	investigate	VERB
ajfa-11249	30	3	the	the	DET
ajfa-11249	30	4	effect	effect	NOUN
ajfa-11249	30	5	of	of	ADP
ajfa-11249	30	6	the	the	DET
ajfa-11249	30	7	fxe	fxe	NOUN
ajfa-11249	30	8	on	on	ADP
ajfa-11249	30	9	the	the	DET
ajfa-11249	30	10	financial	financial	ADJ
ajfa-11249	30	11	performance	performance	NOUN
ajfa-11249	30	12	of	of	ADP
ajfa-11249	30	13	egx30	egx30	NOUN
ajfa-11249	30	14	companies	company	NOUN
ajfa-11249	30	15	.	.	PUNCT
ajfa-11249	31	1	4	4	X
ajfa-11249	31	2	.	.	X
ajfa-11249	31	3	literature	literature	NOUN
ajfa-11249	31	4	review	review	NOUN
ajfa-11249	31	5	measuring	measure	VERB
ajfa-11249	31	6	the	the	DET
ajfa-11249	31	7	fxecan	fxecan	PROPN
ajfa-11249	31	8	be	be	AUX
ajfa-11249	31	9	made	make	VERB
ajfa-11249	31	10	using	use	VERB
ajfa-11249	31	11	(	(	PUNCT
ajfa-11249	31	12	adler	adler	NOUN
ajfa-11249	31	13	,	,	PUNCT
ajfa-11249	31	14	1984	1984	NUM
ajfa-11249	31	15	,	,	PUNCT
ajfa-11249	31	16	pp	pp	ADP
ajfa-11249	31	17	.	.	PUNCT
ajfa-11249	32	1	41	41	NUM
ajfa-11249	32	2	-	-	SYM
ajfa-11249	32	3	50	50	NUM
ajfa-11249	32	4	)	)	PUNCT
ajfa-11249	32	5	model	model	NOUN
ajfa-11249	32	6	,	,	PUNCT
ajfa-11249	32	7	who	who	PRON
ajfa-11249	32	8	states	state	VERB
ajfa-11249	32	9	a	a	DET
ajfa-11249	32	10	procedure	procedure	NOUN
ajfa-11249	32	11	for	for	ADP
ajfa-11249	32	12	assessing	assess	VERB
ajfa-11249	32	13	the	the	DET
ajfa-11249	32	14	fxe	fxe	NOUN
ajfa-11249	32	15	using	use	VERB
ajfa-11249	32	16	a	a	DET
ajfa-11249	32	17	single	single	ADJ
ajfa-11249	32	18	factor	factor	NOUN
ajfa-11249	32	19	to	to	PART
ajfa-11249	32	20	estimate	estimate	VERB
ajfa-11249	32	21	the	the	DET
ajfa-11249	32	22	changeability	changeability	NOUN
ajfa-11249	32	23	of	of	ADP
ajfa-11249	32	24	the	the	DET
ajfa-11249	32	25	company	company	NOUN
ajfa-11249	32	26	’s	’s	PART
ajfa-11249	32	27	equity	equity	NOUN
ajfa-11249	32	28	returns	return	NOUN
ajfa-11249	32	29	to	to	ADP
ajfa-11249	32	30	exchange	exchange	VERB
ajfa-11249	32	31	rates	rate	NOUN
ajfa-11249	32	32	.	.	PUNCT
ajfa-11249	33	1	r	r	NOUN
ajfa-11249	33	2	,	,	PUNCT
ajfa-11249	33	3	=	=	SYM
ajfa-11249	33	4	α	α	PROPN
ajfa-11249	33	5	+	+	X
ajfa-11249	33	6	γ	γ	X
ajfa-11249	33	7	xr	xr	PROPN
ajfa-11249	33	8	,	,	PUNCT
ajfa-11249	33	9	+	+	CCONJ
ajfa-11249	33	10	ε	ε	PROPN
ajfa-11249	33	11	where	where	SCONJ
ajfa-11249	33	12	,	,	PUNCT
ajfa-11249	33	13	is	be	AUX
ajfa-11249	33	14	the	the	DET
ajfa-11249	33	15	return	return	NOUN
ajfa-11249	33	16	on	on	ADP
ajfa-11249	33	17	company	company	NOUN
ajfa-11249	33	18	i	i	PRON
ajfa-11249	33	19	,	,	PUNCT
ajfa-11249	33	20	over	over	ADP
ajfa-11249	33	21	the	the	DET
ajfa-11249	33	22	period	period	NOUN
ajfa-11249	33	23	t.	t.	PROPN
ajfa-11249	33	24	,	,	PUNCT
ajfa-11249	33	25	is	be	AUX
ajfa-11249	33	26	the	the	DET
ajfa-11249	33	27	change	change	NOUN
ajfa-11249	33	28	in	in	ADP
ajfa-11249	33	29	exchange	exchange	NOUN
ajfa-11249	33	30	rate	rate	NOUN
ajfa-11249	33	31	.	.	PUNCT
ajfa-11249	34	1	the	the	DET
ajfa-11249	34	2	coefficient	coefficient	NOUN
ajfa-11249	34	3	measures	measure	VERB
ajfa-11249	34	4	the	the	DET
ajfa-11249	34	5	company	company	NOUN
ajfa-11249	34	6	’s	’s	PART
ajfa-11249	34	7	total	total	ADJ
ajfa-11249	34	8	exposure	exposure	NOUN
ajfa-11249	34	9	to	to	ADP
ajfa-11249	34	10	fx	fx	NOUN
ajfa-11249	34	11	rate	rate	NOUN
ajfa-11249	34	12	.	.	PUNCT
ajfa-11249	35	1	after	after	ADP
ajfa-11249	35	2	that	that	PRON
ajfa-11249	35	3	,	,	PUNCT
ajfa-11249	35	4	(	(	PUNCT
ajfa-11249	35	5	jorion	jorion	NOUN
ajfa-11249	35	6	,	,	PUNCT
ajfa-11249	35	7	1991	1991	NUM
ajfa-11249	35	8	,	,	PUNCT
ajfa-11249	35	9	pp	pp	ADV
ajfa-11249	35	10	.	.	PUNCT
ajfa-11249	36	1	363–376)measured	363–376)measured	NUM
ajfa-11249	36	2	the	the	DET
ajfa-11249	36	3	exposure	exposure	NOUN
ajfa-11249	36	4	using	use	VERB
ajfa-11249	36	5	two	two	NUM
ajfa-11249	36	6	-	-	PUNCT
ajfa-11249	36	7	factor	factor	NOUN
ajfa-11249	36	8	model	model	NOUN
ajfa-11249	36	9	,	,	PUNCT
ajfa-11249	36	10	which	which	PRON
ajfa-11249	36	11	became	become	VERB
ajfa-11249	36	12	the	the	DET
ajfa-11249	36	13	standard	standard	NOUN
ajfa-11249	36	14	for	for	ADP
ajfa-11249	36	15	controlling	control	VERB
ajfa-11249	36	16	the	the	DET
ajfa-11249	36	17	exchange	exchange	NOUN
ajfa-11249	36	18	rate	rate	NOUN
ajfa-11249	36	19	risk	risk	NOUN
ajfa-11249	36	20	.	.	PUNCT
ajfa-11249	37	1	r	r	NOUN
ajfa-11249	37	2	,	,	PUNCT
ajfa-11249	37	3	=	=	SYM
ajfa-11249	37	4	α	α	PROPN
ajfa-11249	38	1	+	+	X
ajfa-11249	38	2	β	β	X
ajfa-11249	38	3	r	r	NOUN
ajfa-11249	38	4	,	,	PUNCT
ajfa-11249	38	5	+	+	CCONJ
ajfa-11249	38	6	γ	γ	X
ajfa-11249	38	7	xr	xr	PROPN
ajfa-11249	38	8	,	,	PUNCT
ajfa-11249	38	9	+	+	CCONJ
ajfa-11249	38	10	ε	ε	PROPN
ajfa-11249	38	11	where	where	SCONJ
ajfa-11249	38	12	,	,	PUNCT
ajfa-11249	38	13	is	be	AUX
ajfa-11249	38	14	the	the	DET
ajfa-11249	38	15	return	return	NOUN
ajfa-11249	38	16	on	on	ADP
ajfa-11249	38	17	the	the	DET
ajfa-11249	38	18	marketindex.the	marketindex.the	DET
ajfa-11249	38	19	rest	rest	NOUN
ajfa-11249	38	20	of	of	ADP
ajfa-11249	38	21	the	the	DET
ajfa-11249	38	22	variables	variable	NOUN
ajfa-11249	38	23	are	be	AUX
ajfa-11249	38	24	defined	define	VERB
ajfa-11249	38	25	as	as	ADP
ajfa-11249	38	26	above.finally	above.finally	ADV
ajfa-11249	38	27	,	,	PUNCT
ajfa-11249	38	28	(	(	PUNCT
ajfa-11249	38	29	bill	bill	PROPN
ajfa-11249	38	30	b.	b.	PROPN
ajfa-11249	38	31	francis	francis	PROPN
ajfa-11249	38	32	i.	i.	PROPN
ajfa-11249	38	33	h.	h.	PROPN
ajfa-11249	38	34	,	,	PUNCT
ajfa-11249	38	35	2008	2008	NUM
ajfa-11249	38	36	,	,	PUNCT
ajfa-11249	38	37	pp	pp	ADJ
ajfa-11249	38	38	.	.	PUNCT
ajfa-11249	39	1	169	169	NUM
ajfa-11249	39	2	-	-	SYM
ajfa-11249	39	3	196.)measured	196.)measure	VERB
ajfa-11249	39	4	the	the	DET
ajfa-11249	39	5	exposure	exposure	NOUN
ajfa-11249	39	6	using	use	VERB
ajfa-11249	39	7	three	three	NUM
ajfa-11249	39	8	-	-	PUNCT
ajfa-11249	39	9	factor	factor	NOUN
ajfa-11249	39	10	model	model	NOUN
ajfa-11249	39	11	,	,	PUNCT
ajfa-11249	39	12	also	also	ADV
ajfa-11249	39	13	known	know	VERB
ajfa-11249	39	14	as	as	ADP
ajfa-11249	39	15	ff	ff	PROPN
ajfa-11249	39	16	model;which	model;which	NOUN
ajfa-11249	39	17	studied	study	VERB
ajfa-11249	39	18	the	the	DET
ajfa-11249	39	19	fx	fx	PROPN
ajfa-11249	39	20	risk	risk	NOUN
ajfa-11249	39	21	premia	premia	NOUN
ajfa-11249	39	22	or	or	CCONJ
ajfa-11249	39	23	risk	risk	NOUN
ajfa-11249	39	24	premium	premium	NOUN
ajfa-11249	39	25	(	(	PUNCT
ajfa-11249	39	26	the	the	DET
ajfa-11249	39	27	difference	difference	NOUN
ajfa-11249	39	28	between	between	ADP
ajfa-11249	39	29	the	the	DET
ajfa-11249	39	30	expected	expect	VERB
ajfa-11249	39	31	return	return	NOUN
ajfa-11249	39	32	on	on	ADP
ajfa-11249	39	33	a	a	DET
ajfa-11249	39	34	portfolio	portfolio	NOUN
ajfa-11249	39	35	and	and	CCONJ
ajfa-11249	39	36	the	the	DET
ajfa-11249	39	37	riskless	riskless	NOUN
ajfa-11249	39	38	exchange	exchange	NOUN
ajfa-11249	39	39	rate	rate	NOUN
ajfa-11249	39	40	)	)	PUNCT
ajfa-11249	39	41	.	.	PUNCT
ajfa-11249	40	1	r	r	NOUN
ajfa-11249	40	2	,	,	PUNCT
ajfa-11249	40	3	=	=	SYM
ajfa-11249	40	4	α	α	PROPN
ajfa-11249	40	5	+	+	X
ajfa-11249	40	6	β	β	X
ajfa-11249	40	7	mrp	mrp	NOUN
ajfa-11249	40	8	+	+	CCONJ
ajfa-11249	40	9	β	β	X
ajfa-11249	40	10	smb	smb	NOUN
ajfa-11249	41	1	+	+	CCONJ
ajfa-11249	41	2	β	β	X
ajfa-11249	41	3	hml	hml	NOUN
ajfa-11249	41	4	+	+	CCONJ
ajfa-11249	41	5	γ	γ	X
ajfa-11249	41	6	xr	xr	PROPN
ajfa-11249	41	7	,	,	PUNCT
ajfa-11249	41	8	+	+	CCONJ
ajfa-11249	41	9	ε	ε	PROPN
ajfa-11249	41	10	where	where	SCONJ
ajfa-11249	41	11	mrp	mrp	PROPN
ajfa-11249	41	12	is	be	AUX
ajfa-11249	41	13	the	the	DET
ajfa-11249	41	14	market	market	NOUN
ajfa-11249	41	15	risk	risk	NOUN
ajfa-11249	41	16	premium	premium	NOUN
ajfa-11249	41	17	,	,	PUNCT
ajfa-11249	41	18	smb	smb	PROPN
ajfa-11249	41	19	is	be	AUX
ajfa-11249	41	20	the	the	DET
ajfa-11249	41	21	return	return	NOUN
ajfa-11249	41	22	of	of	ADP
ajfa-11249	41	23	the	the	DET
ajfa-11249	41	24	small	small	ADJ
ajfa-11249	41	25	minuslarge	minuslarge	NOUN
ajfa-11249	41	26	stocks	stock	NOUN
ajfa-11249	41	27	.	.	PUNCT
ajfa-11249	42	1	hml	hml	PROPN
ajfa-11249	42	2	is	be	AUX
ajfa-11249	42	3	the	the	DET
ajfa-11249	42	4	return	return	NOUN
ajfa-11249	42	5	for	for	ADP
ajfa-11249	42	6	the	the	DET
ajfa-11249	42	7	value	value	NOUN
ajfa-11249	42	8	relative	relative	ADJ
ajfa-11249	42	9	to	to	ADP
ajfa-11249	42	10	growth	growth	NOUN
ajfa-11249	42	11	stocks.(stephen	stocks.(stephen	SCONJ
ajfa-11249	42	12	p.huffman	p.huffman	NOUN
ajfa-11249	42	13	,	,	PUNCT
ajfa-11249	42	14	2010	2010	NUM
ajfa-11249	42	15	,	,	PUNCT
ajfa-11249	42	16	pp	pp	ADJ
ajfa-11249	42	17	.	.	PUNCT
ajfa-11249	43	1	1	1	NUM
ajfa-11249	43	2	-	-	SYM
ajfa-11249	43	3	12	12	NUM
ajfa-11249	43	4	)	)	PUNCT
ajfa-11249	43	5	found	find	VERB
ajfa-11249	43	6	more	more	ADJ
ajfa-11249	43	7	fxe	fxe	NOUN
ajfa-11249	43	8	coefficients	coefficient	NOUN
ajfa-11249	43	9	that	that	PRON
ajfa-11249	43	10	are	be	AUX
ajfa-11249	43	11	significant	significant	ADJ
ajfa-11249	43	12	using	use	VERB
ajfa-11249	43	13	ff	ff	NUM
ajfa-11249	43	14	three	three	NUM
ajfa-11249	43	15	-	-	PUNCT
ajfa-11249	43	16	factor	factor	NOUN
ajfa-11249	43	17	model	model	NOUN
ajfa-11249	43	18	compared	compare	VERB
ajfa-11249	43	19	to	to	ADP
ajfa-11249	43	20	the	the	DET
ajfa-11249	43	21	traditional	traditional	ADJ
ajfa-11249	43	22	market	market	NOUN
ajfa-11249	43	23	model	model	NOUN
ajfa-11249	43	24	.	.	PUNCT
ajfa-11249	44	1	therefore	therefore	ADV
ajfa-11249	44	2	,	,	PUNCT
ajfa-11249	44	3	the	the	DET
ajfa-11249	44	4	study	study	NOUN
ajfa-11249	44	5	will	will	AUX
ajfa-11249	44	6	use	use	VERB
ajfa-11249	44	7	ff	ff	NOUN
ajfa-11249	44	8	model	model	NOUN
ajfa-11249	44	9	to	to	PART
ajfa-11249	44	10	measure	measure	VERB
ajfa-11249	44	11	the	the	DET
ajfa-11249	44	12	fxeofegx30companies	fxeofegx30companie	NOUN
ajfa-11249	44	13	.	.	PUNCT
ajfa-11249	45	1	various	various	ADJ
ajfa-11249	45	2	studies	study	NOUN
ajfa-11249	45	3	found	find	VERB
ajfa-11249	45	4	the	the	DET
ajfa-11249	45	5	determinants	determinant	NOUN
ajfa-11249	45	6	of	of	ADP
ajfa-11249	45	7	the	the	DET
ajfa-11249	45	8	fxe	fxe	NOUN
ajfa-11249	45	9	such	such	ADJ
ajfa-11249	45	10	as	as	ADP
ajfa-11249	45	11	(	(	PUNCT
ajfa-11249	45	12	ines	ine	NOUN
ajfa-11249	45	13	chaieb	chaieb	PROPN
ajfa-11249	45	14	,	,	PUNCT
ajfa-11249	45	15	2013	2013	NUM
ajfa-11249	45	16	,	,	PUNCT
ajfa-11249	45	17	pp	pp	ADJ
ajfa-11249	45	18	.	.	PUNCT
ajfa-11249	45	19	781808	781808	NUM
ajfa-11249	45	20	)	)	PUNCT
ajfa-11249	45	21	revealed	reveal	VERB
ajfa-11249	45	22	that	that	SCONJ
ajfa-11249	45	23	the	the	DET
ajfa-11249	45	24	level	level	NOUN
ajfa-11249	45	25	of	of	ADP
ajfa-11249	45	26	exposure	exposure	NOUN
ajfa-11249	45	27	in	in	ADP
ajfa-11249	45	28	the	the	DET
ajfa-11249	45	29	u.s	u.s	PROPN
ajfa-11249	45	30	company	company	NOUN
ajfa-11249	45	31	over	over	ADP
ajfa-11249	45	32	the	the	DET
ajfa-11249	45	33	period	period	NOUN
ajfa-11249	45	34	1973–2005	1973–2005	NUM
ajfa-11249	45	35	was	be	AUX
ajfa-11249	45	36	negatively	negatively	ADV
ajfa-11249	45	37	related	relate	VERB
ajfa-11249	45	38	to	to	ADP
ajfa-11249	45	39	growth	growth	NOUN
ajfa-11249	45	40	opportunities	opportunity	NOUN
ajfa-11249	45	41	and	and	CCONJ
ajfa-11249	45	42	size	size	NOUN
ajfa-11249	45	43	.	.	PUNCT
ajfa-11249	46	1	however	however	ADV
ajfa-11249	46	2	,	,	PUNCT
ajfa-11249	46	3	it	it	PRON
ajfa-11249	46	4	was	be	AUX
ajfa-11249	46	5	positively	positively	ADV
ajfa-11249	46	6	related	relate	VERB
ajfa-11249	46	7	to	to	ADP
ajfa-11249	46	8	the	the	DET
ajfa-11249	46	9	degree	degree	NOUN
ajfa-11249	46	10	of	of	ADP
ajfa-11249	46	11	leverage	leverage	NOUN
ajfa-11249	46	12	and	and	CCONJ
ajfa-11249	46	13	international	international	ADJ
ajfa-11249	46	14	involvement	involvement	NOUN
ajfa-11249	46	15	.	.	PUNCT
ajfa-11249	47	1	(	(	PUNCT
ajfa-11249	47	2	bergbrant	bergbrant	NOUN
ajfa-11249	47	3	,	,	PUNCT
ajfa-11249	47	4	2014	2014	NUM
ajfa-11249	47	5	,	,	PUNCT
ajfa-11249	47	6	pp	pp	PROPN
ajfa-11249	47	7	.	.	PUNCT
ajfa-11249	47	8	885	885	NUM
ajfa-11249	47	9	-	-	SYM
ajfa-11249	47	10	916	916	NUM
ajfa-11249	47	11	)	)	PUNCT
ajfa-11249	47	12	found	find	VERB
ajfa-11249	47	13	that	that	SCONJ
ajfa-11249	47	14	exposure	exposure	NOUN
ajfa-11249	47	15	rises	rise	VERB
ajfa-11249	47	16	with	with	ADP
ajfa-11249	47	17	the	the	DET
ajfa-11249	47	18	strength	strength	NOUN
ajfa-11249	47	19	of	of	ADP
ajfa-11249	47	20	competition	competition	NOUN
ajfa-11249	47	21	.	.	PUNCT
ajfa-11249	48	1	(	(	PUNCT
ajfa-11249	48	2	raj	raj	NOUN
ajfa-11249	48	3	aggarwal	aggarwal	PROPN
ajfa-11249	48	4	j.	j.	PROPN
ajfa-11249	48	5	t.	t.	PROPN
ajfa-11249	48	6	,	,	PUNCT
ajfa-11249	48	7	2010	2010	NUM
ajfa-11249	48	8	,	,	PUNCT
ajfa-11249	48	9	pp	pp	ADJ
ajfa-11249	48	10	.	.	PUNCT
ajfa-11249	49	1	1619	1619	NUM
ajfa-11249	49	2	-	-	SYM
ajfa-11249	49	3	1636	1636	NUM
ajfa-11249	49	4	)	)	PUNCT
ajfa-11249	49	5	showed	show	VERB
ajfa-11249	49	6	that	that	SCONJ
ajfa-11249	49	7	the	the	DET
ajfa-11249	49	8	domestic	domestic	ADJ
ajfa-11249	49	9	companies	company	NOUN
ajfa-11249	49	10	face	face	VERB
ajfa-11249	49	11	significant	significant	ADJ
ajfa-11249	49	12	fxe	fxe	NOUN
ajfa-11249	49	13	,	,	PUNCT
ajfa-11249	49	14	and	and	CCONJ
ajfa-11249	49	15	the	the	DET
ajfa-11249	49	16	level	level	NOUN
ajfa-11249	49	17	of	of	ADP
ajfa-11249	49	18	domestic	domestic	ADJ
ajfa-11249	49	19	company	company	NOUN
ajfa-11249	49	20	exposure	exposure	NOUN
ajfa-11249	49	21	was	be	AUX
ajfa-11249	49	22	inversely	inversely	ADV
ajfa-11249	49	23	related	relate	VERB
ajfa-11249	49	24	to	to	ADP
ajfa-11249	49	25	size	size	NOUN
ajfa-11249	49	26	.	.	PUNCT
ajfa-11249	50	1	however	however	ADV
ajfa-11249	50	2	,	,	PUNCT
ajfa-11249	50	3	it	it	PRON
ajfa-11249	50	4	was	be	AUX
ajfa-11249	50	5	positively	positively	ADV
ajfa-11249	50	6	related	relate	VERB
ajfa-11249	50	7	to	to	ADP
ajfa-11249	50	8	the	the	DET
ajfa-11249	50	9	level	level	NOUN
ajfa-11249	50	10	of	of	ADP
ajfa-11249	50	11	research	research	NOUN
ajfa-11249	50	12	&	&	CCONJ
ajfa-11249	50	13	development	development	NOUN
ajfa-11249	50	14	expenses	expense	NOUN
ajfa-11249	50	15	and	and	CCONJ
ajfa-11249	50	16	to	to	ADP
ajfa-11249	50	17	a	a	DET
ajfa-11249	50	18	smaller	small	ADJ
ajfa-11249	50	19	extent	extent	NOUN
ajfa-11249	50	20	,	,	PUNCT
ajfa-11249	50	21	positively	positively	ADV
ajfa-11249	50	22	related	relate	VERB
ajfa-11249	50	23	to	to	ADP
ajfa-11249	50	24	financial	financial	ADJ
ajfa-11249	50	25	leverage	leverage	NOUN
ajfa-11249	50	26	(	(	PUNCT
ajfa-11249	50	27	debt	debt	NOUN
ajfa-11249	50	28	ratio	ratio	NOUN
ajfa-11249	50	29	)	)	PUNCT
ajfa-11249	50	30	and	and	CCONJ
ajfa-11249	50	31	growth	growth	NOUN
ajfa-11249	50	32	opportunities	opportunity	NOUN
ajfa-11249	50	33	(	(	PUNCT
ajfa-11249	50	34	mtbv	mtbv	NUM
ajfa-11249	50	35	)	)	PUNCT
ajfa-11249	50	36	.	.	PUNCT
ajfa-11249	51	1	finally	finally	ADV
ajfa-11249	51	2	,	,	PUNCT
ajfa-11249	51	3	it	it	PRON
ajfa-11249	51	4	was	be	AUX
ajfa-11249	51	5	negatively	negatively	ADV
ajfa-11249	51	6	related	relate	VERB
ajfa-11249	51	7	to	to	ADP
ajfa-11249	51	8	asset	asset	NOUN
ajfa-11249	51	9	turnover	turnover	NOUN
ajfa-11249	51	10	,	,	PUNCT
ajfa-11249	51	11	asset	asset	NOUN
ajfa-11249	51	12	tangibility	tangibility	NOUN
ajfa-11249	51	13	and	and	CCONJ
ajfa-11249	51	14	industry	industry	NOUN
ajfa-11249	51	15	concentration	concentration	NOUN
ajfa-11249	51	16	.	.	PUNCT
ajfa-11249	52	1	in	in	ADP
ajfa-11249	52	2	other	other	ADJ
ajfa-11249	52	3	words	word	NOUN
ajfa-11249	52	4	,	,	PUNCT
ajfa-11249	52	5	small	small	ADJ
ajfa-11249	52	6	domestic	domestic	ADJ
ajfa-11249	52	7	companies	company	NOUN
ajfa-11249	52	8	that	that	PRON
ajfa-11249	52	9	have	have	VERB
ajfa-11249	52	10	a	a	DET
ajfa-11249	52	11	great	great	ADJ
ajfa-11249	52	12	mtbv	mtbv	ADJ
ajfa-11249	52	13	,	,	PUNCT
ajfa-11249	52	14	debt	debt	NOUN
ajfa-11249	52	15	ratio	ratio	NOUN
ajfa-11249	52	16	and	and	CCONJ
ajfa-11249	52	17	little	little	ADJ
ajfa-11249	52	18	asset	asset	NOUN
ajfa-11249	52	19	turnover	turnover	NOUN
ajfa-11249	52	20	located	locate	VERB
ajfa-11249	52	21	in	in	ADP
ajfa-11249	52	22	extremely	extremely	ADV
ajfa-11249	52	23	competitive	competitive	ADJ
ajfa-11249	52	24	industries	industry	NOUN
ajfa-11249	52	25	are	be	AUX
ajfa-11249	52	26	likely	likely	ADJ
ajfa-11249	52	27	to	to	PART
ajfa-11249	52	28	face	face	VERB
ajfa-11249	52	29	the	the	DET
ajfa-11249	52	30	highest	high	ADJ
ajfa-11249	52	31	exposure	exposure	NOUN
ajfa-11249	52	32	to	to	ADP
ajfa-11249	52	33	fxrisk	fxrisk	NOUN
ajfa-11249	52	34	.	.	PUNCT
ajfa-11249	53	1	asian	asian	ADJ
ajfa-11249	53	2	journal	journal	PROPN
ajfa-11249	53	3	of	of	ADP
ajfa-11249	53	4	finance	finance	PROPN
ajfa-11249	53	5	&	&	CCONJ
ajfa-11249	53	6	accounting	accounting	PROPN
ajfa-11249	53	7	issn	issn	PROPN
ajfa-11249	53	8	1946	1946	NUM
ajfa-11249	53	9	-	-	PUNCT
ajfa-11249	53	10	052x	052x	PROPN
ajfa-11249	53	11	2017	2017	NUM
ajfa-11249	53	12	,	,	PUNCT
ajfa-11249	53	13	vol	vol	NOUN
ajfa-11249	53	14	.	.	NOUN
ajfa-11249	53	15	9	9	NUM
ajfa-11249	53	16	,	,	PUNCT
ajfa-11249	53	17	no	no	INTJ
ajfa-11249	53	18	.	.	NOUN
ajfa-11249	53	19	1	1	NUM
ajfa-11249	53	20	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-11249	53	21	451	451	NUM
ajfa-11249	53	22	(	(	PUNCT
ajfa-11249	53	23	starks	stark	NOUN
ajfa-11249	53	24	,	,	PUNCT
ajfa-11249	53	25	2013	2013	NUM
ajfa-11249	53	26	,	,	PUNCT
ajfa-11249	53	27	pp	pp	ADJ
ajfa-11249	53	28	.	.	PUNCT
ajfa-11249	54	1	709	709	NUM
ajfa-11249	54	2	735	735	NUM
ajfa-11249	54	3	)	)	PUNCT
ajfa-11249	54	4	showed	show	VERB
ajfa-11249	54	5	that	that	SCONJ
ajfa-11249	54	6	the	the	DET
ajfa-11249	54	7	level	level	NOUN
ajfa-11249	54	8	of	of	ADP
ajfa-11249	54	9	fxe	fxe	NOUN
ajfa-11249	54	10	elasticity	elasticity	NOUN
ajfa-11249	54	11	representative	representative	NOUN
ajfa-11249	54	12	for	for	ADP
ajfa-11249	54	13	the	the	DET
ajfa-11249	54	14	probability	probability	NOUN
ajfa-11249	54	15	of	of	ADP
ajfa-11249	54	16	financial	financial	ADJ
ajfa-11249	54	17	distress	distress	NOUN
ajfa-11249	54	18	,	,	PUNCT
ajfa-11249	54	19	growth	growth	NOUN
ajfa-11249	54	20	opportunities	opportunity	NOUN
ajfa-11249	54	21	and	and	CCONJ
ajfa-11249	54	22	product	product	NOUN
ajfa-11249	54	23	uniqueness	uniqueness	NOUN
ajfa-11249	54	24	.	.	PUNCT
ajfa-11249	55	1	furthermore	furthermore	ADV
ajfa-11249	55	2	,	,	PUNCT
ajfa-11249	55	3	companies	company	NOUN
ajfa-11249	55	4	with	with	ADP
ajfa-11249	55	5	a	a	DET
ajfa-11249	55	6	greater	great	ADJ
ajfa-11249	55	7	probability	probability	NOUN
ajfa-11249	55	8	and	and	CCONJ
ajfa-11249	55	9	higher	high	ADJ
ajfa-11249	55	10	costs	cost	NOUN
ajfa-11249	55	11	of	of	ADP
ajfa-11249	55	12	financial	financial	ADJ
ajfa-11249	55	13	distress	distress	NOUN
ajfa-11249	55	14	exhibit	exhibit	VERB
ajfa-11249	55	15	superior	superior	ADJ
ajfa-11249	55	16	returns	return	NOUN
ajfa-11249	55	17	in	in	ADP
ajfa-11249	55	18	response	response	NOUN
ajfa-11249	55	19	to	to	ADP
ajfa-11249	55	20	large	large	ADJ
ajfa-11249	55	21	exchange	exchange	NOUN
ajfa-11249	55	22	rate	rate	NOUN
ajfa-11249	55	23	shocks	shock	NOUN
ajfa-11249	55	24	.	.	PUNCT
ajfa-11249	56	1	in	in	ADP
ajfa-11249	56	2	addition,(donghui	addition,(donghui	PROPN
ajfa-11249	56	3	li	li	PROPN
ajfa-11249	56	4	,	,	PUNCT
ajfa-11249	56	5	2009	2009	NUM
ajfa-11249	56	6	,	,	PUNCT
ajfa-11249	56	7	pp	pp	ADJ
ajfa-11249	56	8	.	.	PUNCT
ajfa-11249	57	1	306	306	NUM
ajfa-11249	57	2	-	-	SYM
ajfa-11249	57	3	320	320	NUM
ajfa-11249	57	4	)	)	PUNCT
ajfa-11249	57	5	found	find	VERB
ajfa-11249	57	6	that	that	SCONJ
ajfa-11249	57	7	the	the	DET
ajfa-11249	57	8	significant	significant	ADJ
ajfa-11249	57	9	operational	operational	ADJ
ajfa-11249	57	10	and	and	CCONJ
ajfa-11249	57	11	size	size	NOUN
ajfa-11249	57	12	effects	effect	NOUN
ajfa-11249	57	13	were	be	AUX
ajfa-11249	57	14	documented	document	VERB
ajfa-11249	57	15	and	and	CCONJ
ajfa-11249	57	16	that	that	SCONJ
ajfa-11249	57	17	the	the	DET
ajfa-11249	57	18	frequency	frequency	NOUN
ajfa-11249	57	19	of	of	ADP
ajfa-11249	57	20	fxe	fxe	NOUN
ajfa-11249	57	21	increases	increase	NOUN
ajfa-11249	57	22	with	with	ADP
ajfa-11249	57	23	the	the	DET
ajfa-11249	57	24	time	time	NOUN
ajfa-11249	57	25	horizon	horizon	NOUN
ajfa-11249	57	26	in	in	ADP
ajfa-11249	57	27	the	the	DET
ajfa-11249	57	28	u.s	u.s	PROPN
ajfa-11249	57	29	industries	industry	NOUN
ajfa-11249	57	30	.	.	PUNCT
ajfa-11249	58	1	however	however	ADV
ajfa-11249	58	2	,	,	PUNCT
ajfa-11249	58	3	various	various	ADJ
ajfa-11249	58	4	studies	study	NOUN
ajfa-11249	58	5	disagree	disagree	VERB
ajfa-11249	58	6	with	with	ADP
ajfa-11249	58	7	those	those	DET
ajfa-11249	58	8	previous	previous	ADJ
ajfa-11249	58	9	studies	study	NOUN
ajfa-11249	58	10	such	such	ADJ
ajfa-11249	58	11	as	as	ADP
ajfa-11249	58	12	(	(	PUNCT
ajfa-11249	58	13	sam	sam	PROPN
ajfa-11249	58	14	agyei	agyei	PROPN
ajfa-11249	58	15	-	-	PUNCT
ajfa-11249	58	16	ampomah	ampomah	PROPN
ajfa-11249	58	17	k.	k.	PROPN
ajfa-11249	58	18	m.	m.	PROPN
ajfa-11249	58	19	,	,	PUNCT
ajfa-11249	58	20	2012	2012	NUM
ajfa-11249	58	21	,	,	PUNCT
ajfa-11249	58	22	pp	pp	ADV
ajfa-11249	58	23	.	.	PUNCT
ajfa-11249	59	1	251–260)pointed	251–260)pointe	VERB
ajfa-11249	59	2	out	out	ADP
ajfa-11249	59	3	that	that	SCONJ
ajfa-11249	59	4	the	the	DET
ajfa-11249	59	5	determinants	determinant	NOUN
ajfa-11249	59	6	of	of	ADP
ajfa-11249	59	7	fxe	fxe	NOUN
ajfa-11249	59	8	were	be	AUX
ajfa-11249	59	9	model	model	NOUN
ajfa-11249	59	10	-	-	PUNCT
ajfa-11249	59	11	dependent	dependent	ADJ
ajfa-11249	59	12	.	.	PUNCT
ajfa-11249	60	1	nevertheless	nevertheless	ADV
ajfa-11249	60	2	,	,	PUNCT
ajfa-11249	60	3	the	the	DET
ajfa-11249	60	4	cross	cross	ADJ
ajfa-11249	60	5	-	-	ADJ
ajfa-11249	60	6	sectional	sectional	ADJ
ajfa-11249	60	7	analysis	analysis	NOUN
ajfa-11249	60	8	proposes	propose	VERB
ajfa-11249	60	9	specific	specific	ADJ
ajfa-11249	60	10	-	-	PUNCT
ajfa-11249	60	11	company	company	NOUN
ajfa-11249	60	12	factors	factor	NOUN
ajfa-11249	60	13	(	(	PUNCT
ajfa-11249	60	14	size	size	NOUN
ajfa-11249	60	15	,	,	PUNCT
ajfa-11249	60	16	growth	growth	NOUN
ajfa-11249	60	17	opportunities	opportunity	NOUN
ajfa-11249	60	18	,	,	PUNCT
ajfa-11249	60	19	leverage	leverage	NOUN
ajfa-11249	60	20	and	and	CCONJ
ajfa-11249	60	21	liquidity	liquidity	NOUN
ajfa-11249	60	22	of	of	ADP
ajfa-11249	60	23	the	the	DET
ajfa-11249	60	24	non	non	ADJ
ajfa-11249	60	25	-	-	ADJ
ajfa-11249	60	26	financial	financial	ADJ
ajfa-11249	60	27	company	company	NOUN
ajfa-11249	60	28	)	)	PUNCT
ajfa-11249	60	29	have	have	VERB
ajfa-11249	60	30	very	very	ADV
ajfa-11249	60	31	little	little	ADJ
ajfa-11249	60	32	or	or	CCONJ
ajfa-11249	60	33	no	no	PRON
ajfa-11249	60	34	impact	impact	NOUN
ajfa-11249	60	35	on	on	ADP
ajfa-11249	60	36	a	a	DET
ajfa-11249	60	37	company	company	NOUN
ajfa-11249	60	38	's	's	PART
ajfa-11249	60	39	exposure	exposure	NOUN
ajfa-11249	60	40	to	to	ADP
ajfa-11249	60	41	fx	fx	NOUN
ajfa-11249	60	42	risk	risk	NOUN
ajfa-11249	60	43	,	,	PUNCT
ajfa-11249	60	44	combining	combine	VERB
ajfa-11249	60	45	the	the	DET
ajfa-11249	60	46	data	datum	NOUN
ajfa-11249	60	47	across	across	ADP
ajfa-11249	60	48	companies	company	NOUN
ajfa-11249	60	49	and	and	CCONJ
ajfa-11249	60	50	time	time	NOUN
ajfa-11249	60	51	rises	rise	VERB
ajfa-11249	60	52	the	the	DET
ajfa-11249	60	53	explanatory	explanatory	ADJ
ajfa-11249	60	54	power	power	NOUN
ajfa-11249	60	55	of	of	ADP
ajfa-11249	60	56	some	some	PRON
ajfa-11249	60	57	of	of	ADP
ajfa-11249	60	58	these	these	DET
ajfa-11249	60	59	factors	factor	NOUN
ajfa-11249	60	60	.	.	PUNCT
ajfa-11249	61	1	additionally	additionally	ADV
ajfa-11249	61	2	,	,	PUNCT
ajfa-11249	61	3	(	(	PUNCT
ajfa-11249	61	4	kamar	kamar	PROPN
ajfa-11249	61	5	,	,	PUNCT
ajfa-11249	61	6	2015	2015	NUM
ajfa-11249	61	7	)	)	PUNCT
ajfa-11249	61	8	found	find	VERB
ajfa-11249	61	9	that	that	SCONJ
ajfa-11249	61	10	the	the	DET
ajfa-11249	61	11	size	size	NOUN
ajfa-11249	61	12	,	,	PUNCT
ajfa-11249	61	13	liquidity	liquidity	NOUN
ajfa-11249	61	14	,	,	PUNCT
ajfa-11249	61	15	debt	debt	NOUN
ajfa-11249	61	16	,	,	PUNCT
ajfa-11249	61	17	asset	asset	NOUN
ajfa-11249	61	18	turnover	turnover	NOUN
ajfa-11249	61	19	,	,	PUNCT
ajfa-11249	61	20	profit	profit	NOUN
ajfa-11249	61	21	margin	margin	NOUN
ajfa-11249	61	22	,	,	PUNCT
ajfa-11249	61	23	currency	currency	NOUN
ajfa-11249	61	24	diversification	diversification	NOUN
ajfa-11249	61	25	and	and	CCONJ
ajfa-11249	61	26	foreign	foreign	ADJ
ajfa-11249	61	27	subsidiary	subsidiary	NOUN
ajfa-11249	61	28	diversification	diversification	NOUN
ajfa-11249	61	29	were	be	AUX
ajfa-11249	61	30	not	not	PART
ajfa-11249	61	31	significant	significant	ADJ
ajfa-11249	61	32	in	in	ADP
ajfa-11249	61	33	determining	determine	VERB
ajfa-11249	61	34	the	the	DET
ajfa-11249	61	35	fxe	fxe	NOUN
ajfa-11249	61	36	.	.	PUNCT
ajfa-11249	62	1	according	accord	VERB
ajfa-11249	62	2	to	to	ADP
ajfa-11249	62	3	the	the	DET
ajfa-11249	62	4	previous	previous	ADJ
ajfa-11249	62	5	studies	study	NOUN
ajfa-11249	62	6	,	,	PUNCT
ajfa-11249	62	7	the	the	DET
ajfa-11249	62	8	study	study	NOUN
ajfa-11249	62	9	will	will	AUX
ajfa-11249	62	10	use	use	VERB
ajfa-11249	62	11	the	the	DET
ajfa-11249	62	12	following	follow	VERB
ajfa-11249	62	13	model	model	NOUN
ajfa-11249	62	14	to	to	PART
ajfa-11249	62	15	identify	identify	VERB
ajfa-11249	62	16	the	the	DET
ajfa-11249	62	17	most	most	ADV
ajfa-11249	62	18	important	important	ADJ
ajfa-11249	62	19	and	and	CCONJ
ajfa-11249	62	20	significant	significant	ADJ
ajfa-11249	62	21	variables	variable	NOUN
ajfa-11249	62	22	causing	cause	VERB
ajfa-11249	62	23	this	this	DET
ajfa-11249	62	24	exposure	exposure	NOUN
ajfa-11249	62	25	.	.	PUNCT
ajfa-11249	63	1	=	=	NOUN
ajfa-11249	63	2	α+β1reinr+β2current+β3mtbv+β4debt+β5assetturn+β6assettang+β7size+β8hhi+β	α+β1reinr+β2current+β3mtbv+β4debt+β5assetturn+β6assettang+β7size+β8hhi+β	NOUN
ajfa-11249	63	3	9roa+	9roa+	NUM
ajfa-11249	63	4	β10gpm+∈	β10gpm+∈	NOUN
ajfa-11249	63	5	where	where	SCONJ
ajfa-11249	63	6	reinr	reinr	PROPN
ajfa-11249	63	7	is	be	AUX
ajfa-11249	63	8	the	the	DET
ajfa-11249	63	9	reinvestment	reinvestment	NOUN
ajfa-11249	63	10	ratio	ratio	NOUN
ajfa-11249	63	11	,	,	PUNCT
ajfa-11249	63	12	current	current	ADJ
ajfa-11249	63	13	is	be	AUX
ajfa-11249	63	14	the	the	DET
ajfa-11249	63	15	current	current	ADJ
ajfa-11249	63	16	ratio	ratio	NOUN
ajfa-11249	63	17	,	,	PUNCT
ajfa-11249	63	18	mtbv	mtbv	PROPN
ajfa-11249	63	19	is	be	AUX
ajfa-11249	63	20	the	the	DET
ajfa-11249	63	21	market	market	NOUN
ajfa-11249	63	22	to	to	ADP
ajfa-11249	63	23	book	book	NOUN
ajfa-11249	63	24	value	value	NOUN
ajfa-11249	63	25	ratio	ratio	NOUN
ajfa-11249	63	26	,	,	PUNCT
ajfa-11249	63	27	debt	debt	NOUN
ajfa-11249	63	28	is	be	AUX
ajfa-11249	63	29	the	the	DET
ajfa-11249	63	30	debt	debt	NOUN
ajfa-11249	63	31	ratio	ratio	NOUN
ajfa-11249	63	32	,	,	PUNCT
ajfa-11249	63	33	assetturn	assetturn	NOUN
ajfa-11249	63	34	is	be	AUX
ajfa-11249	63	35	the	the	DET
ajfa-11249	63	36	asset	asset	NOUN
ajfa-11249	63	37	turnover	turnover	NOUN
ajfa-11249	63	38	,	,	PUNCT
ajfa-11249	63	39	assettang	assettang	PROPN
ajfa-11249	63	40	is	be	AUX
ajfa-11249	63	41	the	the	DET
ajfa-11249	63	42	asset	asset	NOUN
ajfa-11249	63	43	tangibility	tangibility	NOUN
ajfa-11249	63	44	,	,	PUNCT
ajfa-11249	63	45	size	size	NOUN
ajfa-11249	63	46	,	,	PUNCT
ajfa-11249	63	47	hhi	hhi	NOUN
ajfa-11249	63	48	is	be	AUX
ajfa-11249	63	49	the	the	DET
ajfa-11249	63	50	average	average	ADJ
ajfa-11249	63	51	industry	industry	NOUN
ajfa-11249	63	52	herfindahl	herfindahl	VERB
ajfa-11249	63	53	index	index	PROPN
ajfa-11249	63	54	,	,	PUNCT
ajfa-11249	63	55	roa	roa	PROPN
ajfa-11249	63	56	is	be	AUX
ajfa-11249	63	57	the	the	DET
ajfa-11249	63	58	return	return	NOUN
ajfa-11249	63	59	on	on	ADP
ajfa-11249	63	60	asset	asset	NOUN
ajfa-11249	63	61	,	,	PUNCT
ajfa-11249	63	62	gpm	gpm	PROPN
ajfa-11249	63	63	is	be	AUX
ajfa-11249	63	64	the	the	DET
ajfa-11249	63	65	gross	gross	ADJ
ajfa-11249	63	66	profit	profit	NOUN
ajfa-11249	63	67	margin	margin	NOUN
ajfa-11249	63	68	ratio	ratio	NOUN
ajfa-11249	63	69	.	.	PUNCT
ajfa-11249	64	1	5	5	X
ajfa-11249	64	2	.	.	X
ajfa-11249	64	3	data	datum	NOUN
ajfa-11249	64	4	and	and	CCONJ
ajfa-11249	64	5	methodology	methodology	NOUN
ajfa-11249	64	6	5.1	5.1	NUM
ajfa-11249	64	7	data	datum	NOUN
ajfa-11249	64	8	to	to	PART
ajfa-11249	64	9	conduct	conduct	VERB
ajfa-11249	64	10	this	this	DET
ajfa-11249	64	11	study	study	NOUN
ajfa-11249	64	12	,	,	PUNCT
ajfa-11249	64	13	secondary	secondary	ADJ
ajfa-11249	64	14	data	datum	NOUN
ajfa-11249	64	15	is	be	AUX
ajfa-11249	64	16	used	use	VERB
ajfa-11249	64	17	.	.	PUNCT
ajfa-11249	65	1	the	the	DET
ajfa-11249	65	2	study	study	NOUN
ajfa-11249	65	3	is	be	AUX
ajfa-11249	65	4	conducted	conduct	VERB
ajfa-11249	65	5	on	on	ADP
ajfa-11249	65	6	the	the	DET
ajfa-11249	65	7	egx30	egx30	NOUN
ajfa-11249	65	8	companies	company	NOUN
ajfa-11249	65	9	.	.	PUNCT
ajfa-11249	66	1	all	all	DET
ajfa-11249	66	2	the	the	DET
ajfa-11249	66	3	data	data	NOUN
ajfa-11249	66	4	is	be	AUX
ajfa-11249	66	5	collectedovera	collectedovera	ADJ
ajfa-11249	66	6	period	period	NOUN
ajfa-11249	66	7	of	of	ADP
ajfa-11249	66	8	16	16	NUM
ajfa-11249	66	9	years	year	NOUN
ajfa-11249	66	10	from	from	ADP
ajfa-11249	66	11	2000	2000	NUM
ajfa-11249	66	12	to	to	ADP
ajfa-11249	66	13	2016	2016	NUM
ajfa-11249	66	14	for	for	ADP
ajfa-11249	66	15	30	30	NUM
ajfa-11249	66	16	companies	company	NOUN
ajfa-11249	66	17	.	.	PUNCT
ajfa-11249	67	1	5.2	5.2	NUM
ajfa-11249	67	2	hypotheses	hypothesis	NOUN
ajfa-11249	67	3	h1	h1	VERB
ajfa-11249	67	4	:	:	PUNCT
ajfa-11249	67	5	there	there	PRON
ajfa-11249	67	6	is	be	VERB
ajfa-11249	67	7	a	a	DET
ajfa-11249	67	8	negative	negative	ADJ
ajfa-11249	67	9	relationship	relationship	NOUN
ajfa-11249	67	10	between	between	ADP
ajfa-11249	67	11	the	the	DET
ajfa-11249	67	12	firm	firm	NOUN
ajfa-11249	67	13	’s	’s	PART
ajfa-11249	67	14	stock	stock	NOUN
ajfa-11249	67	15	return	return	NOUN
ajfa-11249	67	16	and	and	CCONJ
ajfa-11249	67	17	fx	fx	NOUN
ajfa-11249	67	18	rate	rate	NOUN
ajfa-11249	67	19	.	.	PUNCT
ajfa-11249	68	1	h2	h2	NOUN
ajfa-11249	68	2	:	:	PUNCT
ajfa-11249	68	3	there	there	PRON
ajfa-11249	68	4	is	be	VERB
ajfa-11249	68	5	a	a	DET
ajfa-11249	68	6	positive	positive	ADJ
ajfa-11249	68	7	relationship	relationship	NOUN
ajfa-11249	68	8	between	between	ADP
ajfa-11249	68	9	the	the	DET
ajfa-11249	68	10	firm	firm	NOUN
ajfa-11249	68	11	’s	’s	PART
ajfa-11249	68	12	reinvestment	reinvestment	NOUN
ajfa-11249	68	13	ratio	ratio	NOUN
ajfa-11249	68	14	and	and	CCONJ
ajfa-11249	68	15	fxe	fxe	NOUN
ajfa-11249	68	16	.	.	PUNCT
ajfa-11249	69	1	h3	h3	NOUN
ajfa-11249	69	2	:	:	PUNCT
ajfa-11249	69	3	there	there	PRON
ajfa-11249	69	4	is	be	VERB
ajfa-11249	69	5	a	a	DET
ajfa-11249	69	6	negative	negative	ADJ
ajfa-11249	69	7	relationship	relationship	NOUN
ajfa-11249	69	8	between	between	ADP
ajfa-11249	69	9	the	the	DET
ajfa-11249	69	10	firm	firm	NOUN
ajfa-11249	69	11	’s	’s	PART
ajfa-11249	69	12	liquidity	liquidity	NOUN
ajfa-11249	69	13	ratio	ratio	NOUN
ajfa-11249	69	14	and	and	CCONJ
ajfa-11249	69	15	fxe	fxe	NOUN
ajfa-11249	69	16	.	.	PUNCT
ajfa-11249	70	1	h4	h4	PROPN
ajfa-11249	70	2	:	:	PUNCT
ajfa-11249	70	3	there	there	PRON
ajfa-11249	70	4	is	be	VERB
ajfa-11249	70	5	a	a	DET
ajfa-11249	70	6	negative	negative	ADJ
ajfa-11249	70	7	relationship	relationship	NOUN
ajfa-11249	70	8	between	between	ADP
ajfa-11249	70	9	the	the	DET
ajfa-11249	70	10	firm	firm	NOUN
ajfa-11249	70	11	’s	’s	PART
ajfa-11249	70	12	growth	growth	NOUN
ajfa-11249	70	13	opportunities	opportunity	NOUN
ajfa-11249	70	14	and	and	CCONJ
ajfa-11249	70	15	fxe	fxe	NOUN
ajfa-11249	70	16	.	.	PUNCT
ajfa-11249	71	1	h5	h5	PROPN
ajfa-11249	71	2	:	:	PUNCT
ajfa-11249	71	3	there	there	PRON
ajfa-11249	71	4	is	be	VERB
ajfa-11249	71	5	a	a	DET
ajfa-11249	71	6	positive	positive	ADJ
ajfa-11249	71	7	relationship	relationship	NOUN
ajfa-11249	71	8	between	between	ADP
ajfa-11249	71	9	the	the	DET
ajfa-11249	71	10	firm	firm	NOUN
ajfa-11249	71	11	’s	’s	PART
ajfa-11249	71	12	financial	financial	ADJ
ajfa-11249	71	13	leverage	leverage	NOUN
ajfa-11249	71	14	and	and	CCONJ
ajfa-11249	71	15	fxe	fxe	NOUN
ajfa-11249	71	16	.	.	PUNCT
ajfa-11249	72	1	h6	h6	PROPN
ajfa-11249	72	2	:	:	PUNCT
ajfa-11249	72	3	there	there	PRON
ajfa-11249	72	4	is	be	VERB
ajfa-11249	72	5	a	a	DET
ajfa-11249	72	6	positive	positive	ADJ
ajfa-11249	72	7	relationship	relationship	NOUN
ajfa-11249	72	8	between	between	ADP
ajfa-11249	72	9	the	the	DET
ajfa-11249	72	10	firm	firm	NOUN
ajfa-11249	72	11	’s	’s	PART
ajfa-11249	72	12	asset	asset	NOUN
ajfa-11249	72	13	turnover	turnover	NOUN
ajfa-11249	72	14	and	and	CCONJ
ajfa-11249	72	15	fxe	fxe	NOUN
ajfa-11249	72	16	.	.	PUNCT
ajfa-11249	73	1	h7	h7	NOUN
ajfa-11249	73	2	:	:	PUNCT
ajfa-11249	73	3	there	there	PRON
ajfa-11249	73	4	is	be	VERB
ajfa-11249	73	5	a	a	DET
ajfa-11249	73	6	positive	positive	ADJ
ajfa-11249	73	7	relationship	relationship	NOUN
ajfa-11249	73	8	between	between	ADP
ajfa-11249	73	9	the	the	DET
ajfa-11249	73	10	firm	firm	NOUN
ajfa-11249	73	11	’s	’s	PART
ajfa-11249	73	12	asset	asset	NOUN
ajfa-11249	73	13	tangibility	tangibility	NOUN
ajfa-11249	73	14	and	and	CCONJ
ajfa-11249	73	15	fxe	fxe	NOUN
ajfa-11249	73	16	.	.	PUNCT
ajfa-11249	74	1	asian	asian	ADJ
ajfa-11249	74	2	journal	journal	PROPN
ajfa-11249	74	3	of	of	ADP
ajfa-11249	74	4	finance	finance	PROPN
ajfa-11249	74	5	&	&	CCONJ
ajfa-11249	74	6	accounting	accounting	PROPN
ajfa-11249	74	7	issn	issn	PROPN
ajfa-11249	74	8	1946	1946	NUM
ajfa-11249	74	9	-	-	PUNCT
ajfa-11249	74	10	052x	052x	PROPN
ajfa-11249	74	11	2017	2017	NUM
ajfa-11249	74	12	,	,	PUNCT
ajfa-11249	74	13	vol	vol	NOUN
ajfa-11249	74	14	.	.	NOUN
ajfa-11249	74	15	9	9	NUM
ajfa-11249	74	16	,	,	PUNCT
ajfa-11249	74	17	no	no	INTJ
ajfa-11249	74	18	.	.	NOUN
ajfa-11249	74	19	1	1	NUM
ajfa-11249	75	1	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-11249	75	2	452	452	NUM
ajfa-11249	75	3	h8	h8	NOUN
ajfa-11249	75	4	:	:	PUNCT
ajfa-11249	75	5	there	there	PRON
ajfa-11249	75	6	is	be	VERB
ajfa-11249	75	7	a	a	DET
ajfa-11249	75	8	positive	positive	ADJ
ajfa-11249	75	9	relationship	relationship	NOUN
ajfa-11249	75	10	between	between	ADP
ajfa-11249	75	11	the	the	DET
ajfa-11249	75	12	firm	firm	NOUN
ajfa-11249	75	13	’s	’s	PART
ajfa-11249	75	14	size	size	NOUN
ajfa-11249	75	15	and	and	CCONJ
ajfa-11249	75	16	fxe	fxe	NOUN
ajfa-11249	75	17	.	.	PUNCT
ajfa-11249	76	1	h9	h9	PROPN
ajfa-11249	76	2	:	:	PUNCT
ajfa-11249	76	3	there	there	PRON
ajfa-11249	76	4	is	be	VERB
ajfa-11249	76	5	a	a	DET
ajfa-11249	76	6	positiverelationship	positiverelationship	NOUN
ajfa-11249	76	7	between	between	ADP
ajfa-11249	76	8	the	the	DET
ajfa-11249	76	9	firm	firm	NOUN
ajfa-11249	76	10	’s	’s	PART
ajfa-11249	76	11	competitiveness	competitiveness	NOUN
ajfa-11249	76	12	ratio	ratio	NOUN
ajfa-11249	76	13	and	and	CCONJ
ajfa-11249	76	14	fxe	fxe	NOUN
ajfa-11249	76	15	.	.	PUNCT
ajfa-11249	77	1	h10	h10	NOUN
ajfa-11249	77	2	:	:	PUNCT
ajfa-11249	77	3	there	there	PRON
ajfa-11249	77	4	is	be	VERB
ajfa-11249	77	5	a	a	DET
ajfa-11249	77	6	negative	negative	ADJ
ajfa-11249	77	7	relationship	relationship	NOUN
ajfa-11249	77	8	between	between	ADP
ajfa-11249	77	9	the	the	DET
ajfa-11249	77	10	firm	firm	NOUN
ajfa-11249	77	11	’s	’s	PART
ajfa-11249	77	12	profitability	profitability	NOUN
ajfa-11249	77	13	ratio	ratio	NOUN
ajfa-11249	77	14	and	and	CCONJ
ajfa-11249	77	15	fxe	fxe	NOUN
ajfa-11249	77	16	.	.	PUNCT
ajfa-11249	78	1	5.3	5.3	NUM
ajfa-11249	78	2	identification	identification	NOUN
ajfa-11249	78	3	of	of	ADP
ajfa-11249	78	4	the	the	DET
ajfa-11249	78	5	variables	variable	NOUN
ajfa-11249	78	6	the	the	DET
ajfa-11249	78	7	study	study	NOUN
ajfa-11249	78	8	uses	use	VERB
ajfa-11249	78	9	two	two	NUM
ajfa-11249	78	10	model	model	NOUN
ajfa-11249	78	11	,	,	PUNCT
ajfa-11249	78	12	5.3.1	5.3.1	PROPN
ajfa-11249	78	13	.	.	NOUN
ajfa-11249	78	14	thefirst	thefirst	ADJ
ajfa-11249	78	15	model	model	NOUN
ajfa-11249	78	16	5.3.1.1	5.3.1.1	PROPN
ajfa-11249	78	17	the	the	DET
ajfa-11249	78	18	dependent	dependent	ADJ
ajfa-11249	78	19	variable	variable	NOUN
ajfa-11249	78	20	:	:	PUNCT
ajfa-11249	78	21	firm	firm	NOUN
ajfa-11249	78	22	’s	’s	PART
ajfa-11249	78	23	stock	stock	NOUN
ajfa-11249	78	24	return	return	NOUN
ajfa-11249	78	25	.	.	PUNCT
ajfa-11249	79	1	•	•	NOUN
ajfa-11249	79	2	the	the	DET
ajfa-11249	79	3	study	study	NOUN
ajfa-11249	79	4	uses	use	VERB
ajfa-11249	79	5	the	the	DET
ajfa-11249	79	6	firm	firm	NOUN
ajfa-11249	79	7	’s	’s	PART
ajfa-11249	79	8	stock	stock	NOUN
ajfa-11249	79	9	return	return	NOUN
ajfa-11249	79	10	as	as	ADP
ajfa-11249	79	11	a	a	DET
ajfa-11249	79	12	proxyfor	proxyfor	NOUN
ajfa-11249	79	13	the	the	DET
ajfa-11249	79	14	stock	stock	NOUN
ajfa-11249	79	15	return	return	NOUN
ajfa-11249	79	16	(	(	PUNCT
ajfa-11249	79	17	financial	financial	ADJ
ajfa-11249	79	18	performance	performance	NOUN
ajfa-11249	79	19	)	)	PUNCT
ajfa-11249	79	20	of	of	ADP
ajfa-11249	79	21	the	the	DET
ajfa-11249	79	22	egx30	egx30	NOUN
ajfa-11249	79	23	companies	company	NOUN
ajfa-11249	79	24	,	,	PUNCT
ajfa-11249	79	25	,	,	PUNCT
ajfa-11249	79	26	=(	=(	X
ajfa-11249	79	27	close	close	ADJ
ajfa-11249	79	28	price	price	NOUN
ajfa-11249	79	29	−	−	ADP
ajfa-11249	79	30	open	open	ADJ
ajfa-11249	79	31	price	price	NOUN
ajfa-11249	79	32	)	)	PUNCT
ajfa-11249	79	33	open	open	ADJ
ajfa-11249	79	34	price	price	NOUN
ajfa-11249	79	35	5.3.1.2	5.3.1.2	NUM
ajfa-11249	79	36	the	the	DET
ajfa-11249	79	37	independent	independent	ADJ
ajfa-11249	79	38	variables	variable	NOUN
ajfa-11249	79	39	:	:	PUNCT
ajfa-11249	79	40	•	•	NUM
ajfa-11249	79	41	mrp	mrp	PROPN
ajfa-11249	79	42	(	(	PUNCT
ajfa-11249	79	43	market	market	NOUN
ajfa-11249	79	44	risk	risk	NOUN
ajfa-11249	79	45	premium	premium	NOUN
ajfa-11249	79	46	)	)	PUNCT
ajfa-11249	80	1	=	=	NOUN
ajfa-11249	80	2	market	market	NOUN
ajfa-11249	80	3	return	return	NOUN
ajfa-11249	80	4	–	–	PUNCT
ajfa-11249	80	5	risk	risk	NOUN
ajfa-11249	80	6	-	-	PUNCT
ajfa-11249	80	7	free	free	ADJ
ajfa-11249	80	8	rate	rate	NOUN
ajfa-11249	80	9	.	.	PUNCT
ajfa-11249	81	1	where	where	SCONJ
ajfa-11249	81	2	market	market	NOUN
ajfa-11249	81	3	return	return	NOUN
ajfa-11249	81	4	=	=	SYM
ajfa-11249	81	5	(	(	PUNCT
ajfa-11249	81	6	p	p	NOUN
ajfa-11249	81	7	−	−	PROPN
ajfa-11249	81	8	p	p	NOUN
ajfa-11249	81	9	)	)	PUNCT
ajfa-11249	81	10	p	p	NOUN
ajfa-11249	81	11	•	•	PROPN
ajfa-11249	81	12	smb	smb	NOUN
ajfa-11249	81	13	(	(	PUNCT
ajfa-11249	81	14	small	small	ADJ
ajfa-11249	81	15	minusbig	minusbig	ADJ
ajfa-11249	81	16	stocks	stock	NOUN
ajfa-11249	81	17	)	)	PUNCT
ajfa-11249	82	1	=	=	SYM
ajfa-11249	82	2	return	return	NOUN
ajfa-11249	82	3	of	of	ADP
ajfa-11249	82	4	small	small	ADJ
ajfa-11249	82	5	stocks	stock	NOUN
ajfa-11249	82	6	–	–	PUNCT
ajfa-11249	82	7	return	return	NOUN
ajfa-11249	82	8	of	of	ADP
ajfa-11249	82	9	large	large	ADJ
ajfa-11249	82	10	stocks	stock	NOUN
ajfa-11249	82	11	.	.	PUNCT
ajfa-11249	83	1	using	use	VERB
ajfa-11249	83	2	market	market	NOUN
ajfa-11249	83	3	capitalization	capitalization	NOUN
ajfa-11249	83	4	to	to	PART
ajfa-11249	83	5	identify	identify	VERB
ajfa-11249	83	6	the	the	DET
ajfa-11249	83	7	small	small	ADJ
ajfa-11249	83	8	and	and	CCONJ
ajfa-11249	83	9	big	big	ADJ
ajfa-11249	83	10	stocks	stock	NOUN
ajfa-11249	83	11	.	.	PUNCT
ajfa-11249	84	1	•	•	NUM
ajfa-11249	84	2	hml	hml	PROPN
ajfa-11249	84	3	(	(	PUNCT
ajfa-11249	84	4	high	high	ADJ
ajfa-11249	84	5	minus	minus	CCONJ
ajfa-11249	84	6	low	low	ADJ
ajfa-11249	84	7	)	)	PUNCT
ajfa-11249	84	8	=	=	SYM
ajfa-11249	84	9	return	return	NOUN
ajfa-11249	84	10	of	of	ADP
ajfa-11249	84	11	high	high	ADJ
ajfa-11249	84	12	stocks	stock	NOUN
ajfa-11249	84	13	–	–	PUNCT
ajfa-11249	84	14	return	return	NOUN
ajfa-11249	84	15	of	of	ADP
ajfa-11249	84	16	low	low	ADJ
ajfa-11249	84	17	stocks	stock	NOUN
ajfa-11249	84	18	using	use	VERB
ajfa-11249	84	19	mtbv	mtbv	PRON
ajfa-11249	84	20	to	to	PART
ajfa-11249	84	21	identify	identify	VERB
ajfa-11249	84	22	the	the	DET
ajfa-11249	84	23	high	high	ADJ
ajfa-11249	84	24	and	and	CCONJ
ajfa-11249	84	25	low	low	ADJ
ajfa-11249	84	26	stocks	stock	NOUN
ajfa-11249	84	27	.	.	PUNCT
ajfa-11249	85	1	•	•	NUM
ajfa-11249	85	2	xr	xr	PROPN
ajfa-11249	85	3	(	(	PUNCT
ajfa-11249	85	4	exchange	exchange	NOUN
ajfa-11249	85	5	rate	rate	NOUN
ajfa-11249	85	6	)	)	PUNCT
ajfa-11249	85	7	=	=	SYM
ajfa-11249	85	8	(	(	PUNCT
ajfa-11249	85	9	fx	fx	NOUN
ajfa-11249	85	10	−	−	PROPN
ajfa-11249	85	11	fx	fx	PROPN
ajfa-11249	85	12	)	)	PUNCT
ajfa-11249	85	13	fx	fx	PROPN
ajfa-11249	85	14	5.3.2	5.3.2	NUM
ajfa-11249	85	15	.	.	PUNCT
ajfa-11249	86	1	the	the	DET
ajfa-11249	86	2	second	second	ADJ
ajfa-11249	86	3	model	model	NOUN
ajfa-11249	86	4	5.3.2.1the	5.3.2.1the	DET
ajfa-11249	86	5	dependent	dependent	ADJ
ajfa-11249	86	6	variable	variable	NOUN
ajfa-11249	86	7	the	the	DET
ajfa-11249	86	8	regression	regression	NOUN
ajfa-11249	86	9	coefficient	coefficient	NOUN
ajfa-11249	86	10	of	of	ADP
ajfa-11249	86	11	the	the	DET
ajfa-11249	86	12	change	change	NOUN
ajfa-11249	86	13	in	in	ADP
ajfa-11249	86	14	the	the	DET
ajfa-11249	86	15	fx	fx	NOUN
ajfa-11249	86	16	rate	rate	NOUN
ajfa-11249	86	17	on	on	ADP
ajfa-11249	86	18	the	the	DET
ajfa-11249	86	19	stock	stock	NOUN
ajfa-11249	86	20	return	return	NOUN
ajfa-11249	86	21	of	of	ADP
ajfa-11249	86	22	the	the	DET
ajfa-11249	86	23	egx	egx	PROPN
ajfa-11249	86	24	30	30	NUM
ajfa-11249	86	25	companies	company	NOUN
ajfa-11249	86	26	(	(	PUNCT
ajfa-11249	86	27	fxe	fxe	PROPN
ajfa-11249	86	28	)	)	PUNCT
ajfa-11249	86	29	.	.	PUNCT
ajfa-11249	87	1	5.3.2.2	5.3.2.2	NUM
ajfa-11249	87	2	the	the	DET
ajfa-11249	87	3	independent	independent	ADJ
ajfa-11249	87	4	variables	variable	NOUN
ajfa-11249	87	5	:	:	PUNCT
ajfa-11249	87	6	the	the	DET
ajfa-11249	87	7	study	study	NOUN
ajfa-11249	87	8	conductsnine	conductsnine	NOUN
ajfa-11249	87	9	variables	variable	NOUN
ajfa-11249	87	10	as	as	SCONJ
ajfa-11249	87	11	follows	follow	VERB
ajfa-11249	87	12	:	:	PUNCT
ajfa-11249	87	13	•	•	NUM
ajfa-11249	87	14	reinvestment	reinvestment	NOUN
ajfa-11249	87	15	ratio	ratio	NOUN
ajfa-11249	87	16	:	:	PUNCT
ajfa-11249	87	17	it	it	PRON
ajfa-11249	87	18	refers	refer	VERB
ajfa-11249	87	19	to	to	ADP
ajfa-11249	87	20	the	the	DET
ajfa-11249	87	21	amount	amount	NOUN
ajfa-11249	87	22	of	of	ADP
ajfa-11249	87	23	cash	cash	NOUN
ajfa-11249	87	24	flow	flow	NOUN
ajfa-11249	87	25	that	that	PRON
ajfa-11249	87	26	the	the	DET
ajfa-11249	87	27	firm	firm	NOUN
ajfa-11249	87	28	reinvests	reinvest	VERB
ajfa-11249	87	29	it	it	PRON
ajfa-11249	87	30	.	.	PUNCT
ajfa-11249	88	1	•	•	NUM
ajfa-11249	88	2	liquidity	liquidity	NOUN
ajfa-11249	88	3	ratio	ratio	NOUN
ajfa-11249	88	4	:	:	PUNCT
ajfa-11249	88	5	it	it	PRON
ajfa-11249	88	6	shows	show	VERB
ajfa-11249	88	7	the	the	DET
ajfa-11249	88	8	ability	ability	NOUN
ajfa-11249	88	9	of	of	ADP
ajfa-11249	88	10	the	the	DET
ajfa-11249	88	11	current	current	ADJ
ajfa-11249	88	12	assets	asset	NOUN
ajfa-11249	88	13	to	to	PART
ajfa-11249	88	14	cover	cover	VERB
ajfa-11249	88	15	the	the	DET
ajfa-11249	88	16	current	current	ADJ
ajfa-11249	88	17	liabilities	liability	NOUN
ajfa-11249	88	18	.	.	PUNCT
ajfa-11249	89	1	as	as	SCONJ
ajfa-11249	89	2	high	high	ADJ
ajfa-11249	89	3	current	current	ADJ
ajfa-11249	89	4	ratio	ratio	NOUN
ajfa-11249	89	5	indicates	indicate	VERB
ajfa-11249	89	6	that	that	SCONJ
ajfa-11249	89	7	,	,	PUNCT
ajfa-11249	89	8	the	the	DET
ajfa-11249	89	9	firm	firm	NOUN
ajfa-11249	89	10	will	will	AUX
ajfa-11249	89	11	be	be	AUX
ajfa-11249	89	12	able	able	ADJ
ajfa-11249	89	13	to	to	PART
ajfa-11249	89	14	pay	pay	VERB
ajfa-11249	89	15	its	its	PRON
ajfa-11249	89	16	obligation	obligation	NOUN
ajfa-11249	89	17	and	and	CCONJ
ajfa-11249	89	18	vise	vise	ADJ
ajfa-11249	89	19	verse	verse	NOUN
ajfa-11249	89	20	.	.	PUNCT
ajfa-11249	90	1	asian	asian	ADJ
ajfa-11249	90	2	journal	journal	PROPN
ajfa-11249	90	3	of	of	ADP
ajfa-11249	90	4	finance	finance	PROPN
ajfa-11249	90	5	&	&	CCONJ
ajfa-11249	90	6	accounting	accounting	PROPN
ajfa-11249	90	7	issn	issn	PROPN
ajfa-11249	90	8	1946	1946	NUM
ajfa-11249	90	9	-	-	PUNCT
ajfa-11249	90	10	052x	052x	PROPN
ajfa-11249	90	11	2017	2017	NUM
ajfa-11249	90	12	,	,	PUNCT
ajfa-11249	90	13	vol	vol	NOUN
ajfa-11249	90	14	.	.	NOUN
ajfa-11249	90	15	9	9	NUM
ajfa-11249	90	16	,	,	PUNCT
ajfa-11249	90	17	no	no	INTJ
ajfa-11249	90	18	.	.	NOUN
ajfa-11249	90	19	1	1	NUM
ajfa-11249	90	20	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-11249	90	21	453	453	NUM
ajfa-11249	90	22	current	current	ADJ
ajfa-11249	90	23	ratio	ratio	NOUN
ajfa-11249	90	24	=	=	SYM
ajfa-11249	90	25	current	current	ADJ
ajfa-11249	90	26	asset	asset	NOUN
ajfa-11249	90	27	current	current	ADJ
ajfa-11249	90	28	liability	liability	NOUN
ajfa-11249	90	29	•	•	NOUN
ajfa-11249	90	30	growth	growth	NOUN
ajfa-11249	90	31	opportunity	opportunity	NOUN
ajfa-11249	90	32	:	:	PUNCT
ajfa-11249	90	33	the	the	DET
ajfa-11249	90	34	study	study	NOUN
ajfa-11249	90	35	uses	use	VERB
ajfa-11249	90	36	mtbv	mtbv	PROPN
ajfa-11249	90	37	as	as	ADP
ajfa-11249	90	38	a	a	DET
ajfa-11249	90	39	proxy	proxy	NOUN
ajfa-11249	90	40	for	for	ADP
ajfa-11249	90	41	the	the	DET
ajfa-11249	90	42	firm	firm	NOUN
ajfa-11249	90	43	’s	’s	PART
ajfa-11249	90	44	growth	growth	NOUN
ajfa-11249	90	45	opportunity	opportunity	NOUN
ajfa-11249	90	46	.	.	PUNCT
ajfa-11249	91	1	if	if	SCONJ
ajfa-11249	91	2	market	market	NOUN
ajfa-11249	91	3	value	value	NOUN
ajfa-11249	91	4	is	be	AUX
ajfa-11249	91	5	greater	great	ADJ
ajfa-11249	91	6	than	than	ADP
ajfa-11249	91	7	book	book	NOUN
ajfa-11249	91	8	value	value	NOUN
ajfa-11249	91	9	,	,	PUNCT
ajfa-11249	91	10	the	the	DET
ajfa-11249	91	11	ratio	ratio	NOUN
ajfa-11249	91	12	will	will	AUX
ajfa-11249	91	13	be	be	AUX
ajfa-11249	91	14	greater	great	ADJ
ajfa-11249	91	15	than	than	ADP
ajfa-11249	91	16	one	one	NUM
ajfa-11249	91	17	.	.	PUNCT
ajfa-11249	92	1	on	on	ADP
ajfa-11249	92	2	the	the	DET
ajfa-11249	92	3	other	other	ADJ
ajfa-11249	92	4	hand	hand	NOUN
ajfa-11249	92	5	,	,	PUNCT
ajfa-11249	92	6	if	if	SCONJ
ajfa-11249	92	7	the	the	DET
ajfa-11249	92	8	ratio	ratio	NOUN
ajfa-11249	92	9	is	be	AUX
ajfa-11249	92	10	lower	low	ADJ
ajfa-11249	92	11	than	than	ADP
ajfa-11249	92	12	one	one	NUM
ajfa-11249	92	13	,	,	PUNCT
ajfa-11249	92	14	it	it	PRON
ajfa-11249	92	15	indicates	indicate	VERB
ajfa-11249	92	16	that	that	SCONJ
ajfa-11249	92	17	the	the	DET
ajfa-11249	92	18	company	company	NOUN
ajfa-11249	92	19	reputation	reputation	NOUN
ajfa-11249	92	20	and	and	CCONJ
ajfa-11249	92	21	shareholder	shareholder	NOUN
ajfa-11249	92	22	expectations	expectation	NOUN
ajfa-11249	92	23	in	in	ADP
ajfa-11249	92	24	the	the	DET
ajfa-11249	92	25	market	market	NOUN
ajfa-11249	92	26	are	be	AUX
ajfa-11249	92	27	not	not	PART
ajfa-11249	92	28	favorable	favorable	ADJ
ajfa-11249	92	29	.	.	PUNCT
ajfa-11249	93	1	mtbv	mtbv	ADJ
ajfa-11249	93	2	ratio	ratio	NOUN
ajfa-11249	93	3	=	=	SYM
ajfa-11249	93	4	m.	m.	NOUN
ajfa-11249	93	5	v	v	NOUN
ajfa-11249	93	6	of	of	ADP
ajfa-11249	93	7	capital	capital	PROPN
ajfa-11249	93	8	b.	b.	PROPN
ajfa-11249	93	9	v	v	PROPN
ajfa-11249	93	10	of	of	ADP
ajfa-11249	93	11	capital	capital	NOUN
ajfa-11249	93	12	•	•	CCONJ
ajfa-11249	93	13	financial	financial	ADJ
ajfa-11249	93	14	leverage	leverage	NOUN
ajfa-11249	94	1	:	:	PUNCT
ajfa-11249	94	2	it	it	PRON
ajfa-11249	94	3	indicates	indicate	VERB
ajfa-11249	94	4	theproportion	theproportion	NOUN
ajfa-11249	94	5	of	of	ADP
ajfa-11249	94	6	debt	debt	NOUN
ajfa-11249	94	7	usedby	usedby	ADV
ajfa-11249	94	8	the	the	DET
ajfa-11249	94	9	company	company	NOUN
ajfa-11249	94	10	to	to	PART
ajfa-11249	94	11	finance	finance	VERB
ajfa-11249	94	12	its	its	PRON
ajfa-11249	94	13	assets	asset	NOUN
ajfa-11249	94	14	.	.	PUNCT
ajfa-11249	95	1	a	a	DET
ajfa-11249	95	2	high	high	ADJ
ajfa-11249	95	3	debt	debt	NOUN
ajfa-11249	95	4	/	/	SYM
ajfa-11249	95	5	asset	asset	NOUN
ajfa-11249	95	6	ratio	ratio	NOUN
ajfa-11249	95	7	generally	generally	ADV
ajfa-11249	95	8	means	mean	VERB
ajfa-11249	95	9	that	that	SCONJ
ajfa-11249	95	10	a	a	DET
ajfa-11249	95	11	company	company	NOUN
ajfa-11249	95	12	has	have	AUX
ajfa-11249	95	13	been	be	AUX
ajfa-11249	95	14	aggressive	aggressive	ADJ
ajfa-11249	95	15	in	in	ADP
ajfa-11249	95	16	financing	finance	VERB
ajfa-11249	95	17	its	its	PRON
ajfa-11249	95	18	growth	growth	NOUN
ajfa-11249	95	19	with	with	ADP
ajfa-11249	95	20	debt	debt	NOUN
ajfa-11249	95	21	.	.	PUNCT
ajfa-11249	96	1	(	(	PUNCT
ajfa-11249	96	2	raj	raj	NOUN
ajfa-11249	96	3	aggarwal	aggarwal	PROPN
ajfa-11249	96	4	j.	j.	PROPN
ajfa-11249	96	5	t.	t.	PROPN
ajfa-11249	96	6	,	,	PUNCT
ajfa-11249	96	7	2010	2010	NUM
ajfa-11249	96	8	,	,	PUNCT
ajfa-11249	96	9	pp	pp	ADJ
ajfa-11249	96	10	.	.	PUNCT
ajfa-11249	97	1	1619	1619	NUM
ajfa-11249	97	2	-	-	SYM
ajfa-11249	97	3	1636	1636	NUM
ajfa-11249	97	4	)	)	PUNCT
ajfa-11249	97	5	debt	debt	NOUN
ajfa-11249	97	6	ratio	ratio	NOUN
ajfa-11249	97	7	=	=	NOUN
ajfa-11249	97	8	total	total	ADJ
ajfa-11249	97	9	debt	debt	NOUN
ajfa-11249	97	10	total	total	NOUN
ajfa-11249	97	11	asset	asset	NOUN
ajfa-11249	97	12	•	•	NOUN
ajfa-11249	97	13	asset	asset	NOUN
ajfa-11249	97	14	turnover	turnover	NOUN
ajfa-11249	97	15	:	:	PUNCT
ajfa-11249	97	16	it	it	PRON
ajfa-11249	97	17	is	be	AUX
ajfa-11249	97	18	a	a	DET
ajfa-11249	97	19	financial	financial	ADJ
ajfa-11249	97	20	ratio	ratio	NOUN
ajfa-11249	97	21	thatshows	thatshow	VERB
ajfa-11249	97	22	the	the	DET
ajfa-11249	97	23	degree	degree	NOUN
ajfa-11249	97	24	ofthe	ofthe	NOUN
ajfa-11249	97	25	firm	firm	NOUN
ajfa-11249	97	26	’s	’s	PART
ajfa-11249	97	27	efficiency	efficiency	NOUN
ajfa-11249	97	28	use	use	NOUN
ajfa-11249	97	29	of	of	ADP
ajfa-11249	97	30	its	its	PRON
ajfa-11249	97	31	asset	asset	NOUN
ajfa-11249	97	32	in	in	ADP
ajfa-11249	97	33	generating	generate	VERB
ajfa-11249	97	34	sales	sale	NOUN
ajfa-11249	97	35	.	.	PUNCT
ajfa-11249	98	1	a	a	DET
ajfa-11249	98	2	firm	firm	NOUN
ajfa-11249	98	3	with	with	ADP
ajfa-11249	98	4	low	low	ADJ
ajfa-11249	98	5	-	-	PUNCT
ajfa-11249	98	6	profit	profit	NOUN
ajfa-11249	98	7	margin	margin	NOUN
ajfa-11249	98	8	will	will	AUX
ajfa-11249	98	9	be	be	AUX
ajfa-11249	98	10	likely	likely	ADJ
ajfa-11249	98	11	to	to	PART
ajfa-11249	98	12	have	have	VERB
ajfa-11249	98	13	high	high	ADJ
ajfa-11249	98	14	asset	asset	NOUN
ajfa-11249	98	15	turnover	turnover	NOUN
ajfa-11249	98	16	and	and	CCONJ
ajfa-11249	98	17	vise	vise	ADJ
ajfa-11249	98	18	verse	verse	NOUN
ajfa-11249	98	19	.	.	PUNCT
ajfa-11249	99	1	asset	asset	NOUN
ajfa-11249	99	2	turnover	turnover	NOUN
ajfa-11249	100	1	=	=	PUNCT
ajfa-11249	100	2	sales	sale	NOUN
ajfa-11249	100	3	total	total	ADJ
ajfa-11249	100	4	asset	asset	NOUN
ajfa-11249	100	5	•	•	NOUN
ajfa-11249	100	6	asset	asset	NOUN
ajfa-11249	100	7	tangibility	tangibility	NOUN
ajfa-11249	100	8	:	:	PUNCT
ajfa-11249	100	9	it	it	PRON
ajfa-11249	100	10	is	be	AUX
ajfa-11249	100	11	the	the	DET
ajfa-11249	100	12	company	company	NOUN
ajfa-11249	100	13	’s	’s	PART
ajfa-11249	100	14	fixed	fix	VERB
ajfa-11249	100	15	asset	asset	NOUN
ajfa-11249	100	16	compared	compare	VERB
ajfa-11249	100	17	to	to	ADP
ajfa-11249	100	18	its	its	PRON
ajfa-11249	100	19	total	total	ADJ
ajfa-11249	100	20	assets	asset	NOUN
ajfa-11249	100	21	.	.	PUNCT
ajfa-11249	101	1	asset	asset	NOUN
ajfa-11249	101	2	tangibility	tangibility	NOUN
ajfa-11249	101	3	=	=	SYM
ajfa-11249	101	4	fixed	fix	VERB
ajfa-11249	101	5	asset	asset	NOUN
ajfa-11249	101	6	total	total	NOUN
ajfa-11249	101	7	asset	asset	NOUN
ajfa-11249	101	8	•	•	NOUN
ajfa-11249	101	9	firm	firm	NOUN
ajfa-11249	101	10	’s	’s	PART
ajfa-11249	101	11	size	size	NOUN
ajfa-11249	101	12	:	:	PUNCT
ajfa-11249	101	13	the	the	DET
ajfa-11249	101	14	study	study	NOUN
ajfa-11249	101	15	uses	use	VERB
ajfa-11249	101	16	the	the	DET
ajfa-11249	101	17	logarithm	logarithm	NOUN
ajfa-11249	101	18	market	market	NOUN
ajfa-11249	101	19	value	value	NOUN
ajfa-11249	101	20	of	of	ADP
ajfa-11249	101	21	the	the	DET
ajfa-11249	101	22	firm	firm	NOUN
ajfa-11249	101	23	’s	’s	PART
ajfa-11249	101	24	capital	capital	NOUN
ajfa-11249	101	25	.	.	PUNCT
ajfa-11249	102	1	size	size	NOUN
ajfa-11249	102	2	=	=	NOUN
ajfa-11249	102	3	log	log	NOUN
ajfa-11249	102	4	(	(	PUNCT
ajfa-11249	102	5	m.v	m.v	PROPN
ajfa-11249	102	6	of	of	ADP
ajfa-11249	102	7	capital	capital	NOUN
ajfa-11249	102	8	)	)	PUNCT
ajfa-11249	102	9	•	•	NUM
ajfa-11249	102	10	firm	firm	NOUN
ajfa-11249	102	11	’s	’s	PART
ajfa-11249	102	12	competitiveness	competitiveness	NOUN
ajfa-11249	102	13	:	:	PUNCT
ajfa-11249	102	14	it	it	PRON
ajfa-11249	102	15	refers	refer	VERB
ajfa-11249	102	16	to	to	ADP
ajfa-11249	102	17	the	the	DET
ajfa-11249	102	18	rate	rate	NOUN
ajfa-11249	102	19	of	of	ADP
ajfa-11249	102	20	the	the	DET
ajfa-11249	102	21	firm	firm	NOUN
ajfa-11249	102	22	’s	’s	PART
ajfa-11249	102	23	competitiveness	competitiveness	NOUN
ajfa-11249	102	24	between	between	ADP
ajfa-11249	102	25	the	the	DET
ajfa-11249	102	26	egx30	egx30	NOUN
ajfa-11249	102	27	companies	company	NOUN
ajfa-11249	102	28	.	.	PUNCT
ajfa-11249	103	1	hhi=	hhi=	ADJ
ajfa-11249	103	2	firm	firm	ADJ
ajfa-11249	103	3	sales	sale	NOUN
ajfa-11249	103	4	market	market	NOUN
ajfa-11249	103	5	sales	sale	NOUN
ajfa-11249	103	6	•	•	NOUN
ajfa-11249	103	7	profitability	profitability	NOUN
ajfa-11249	103	8	:	:	PUNCT
ajfa-11249	103	9	it	it	PRON
ajfa-11249	103	10	refers	refer	VERB
ajfa-11249	103	11	to	to	ADP
ajfa-11249	103	12	how	how	SCONJ
ajfa-11249	103	13	profitable	profitable	ADJ
ajfa-11249	103	14	a	a	DET
ajfa-11249	103	15	company	company	NOUN
ajfa-11249	103	16	is	be	AUX
ajfa-11249	103	17	relative	relative	ADJ
ajfa-11249	103	18	to	to	ADP
ajfa-11249	103	19	its	its	PRON
ajfa-11249	103	20	total	total	ADJ
ajfa-11249	103	21	assets	asset	NOUN
ajfa-11249	103	22	.	.	PUNCT
ajfa-11249	104	1	a	a	DET
ajfa-11249	104	2	high	high	ADJ
ajfa-11249	104	3	roa	roa	NOUN
ajfa-11249	104	4	indicates	indicate	VERB
ajfa-11249	104	5	that	that	SCONJ
ajfa-11249	104	6	management	management	NOUN
ajfa-11249	104	7	is	be	AUX
ajfa-11249	104	8	effectively	effectively	ADV
ajfa-11249	104	9	utilizing	utilize	VERB
ajfa-11249	104	10	the	the	DET
ajfa-11249	104	11	company	company	NOUN
ajfa-11249	104	12	’s	’s	PART
ajfa-11249	104	13	assets	asset	NOUN
ajfa-11249	104	14	to	to	PART
ajfa-11249	104	15	generate	generate	VERB
ajfa-11249	104	16	profit	profit	NOUN
ajfa-11249	104	17	.	.	PUNCT
ajfa-11249	105	1	roa	roa	PROPN
ajfa-11249	105	2	and	and	CCONJ
ajfa-11249	105	3	gpm	gpm	PROPN
ajfa-11249	105	4	are	be	AUX
ajfa-11249	105	5	the	the	DET
ajfa-11249	105	6	best	good	ADJ
ajfa-11249	105	7	representativesof	representativesof	NOUN
ajfa-11249	105	8	the	the	DET
ajfa-11249	105	9	profitability	profitability	NOUN
ajfa-11249	105	10	ratio	ratio	NOUN
ajfa-11249	105	11	of	of	ADP
ajfa-11249	105	12	the	the	DET
ajfa-11249	105	13	firm	firm	NOUN
ajfa-11249	105	14	.	.	PUNCT
ajfa-11249	106	1	roa	roa	PROPN
ajfa-11249	106	2	=	=	NOUN
ajfa-11249	106	3	net	net	ADJ
ajfa-11249	106	4	income	income	NOUN
ajfa-11249	106	5	total	total	NOUN
ajfa-11249	106	6	asset	asset	NOUN
ajfa-11249	106	7	gpm	gpm	NOUN
ajfa-11249	106	8	=	=	NOUN
ajfa-11249	106	9	net	net	ADJ
ajfa-11249	106	10	income	income	NOUN
ajfa-11249	106	11	revenue	revenue	NOUN
ajfa-11249	106	12	asian	asian	PROPN
ajfa-11249	106	13	journal	journal	PROPN
ajfa-11249	106	14	of	of	ADP
ajfa-11249	106	15	finance	finance	PROPN
ajfa-11249	106	16	&	&	CCONJ
ajfa-11249	106	17	accounting	accounting	PROPN
ajfa-11249	106	18	issn	issn	PROPN
ajfa-11249	106	19	1946	1946	NUM
ajfa-11249	106	20	-	-	PUNCT
ajfa-11249	106	21	052x	052x	PROPN
ajfa-11249	106	22	2017	2017	NUM
ajfa-11249	106	23	,	,	PUNCT
ajfa-11249	106	24	vol	vol	NOUN
ajfa-11249	106	25	.	.	NOUN
ajfa-11249	106	26	9	9	NUM
ajfa-11249	106	27	,	,	PUNCT
ajfa-11249	107	1	no	no	INTJ
ajfa-11249	107	2	.	.	NOUN
ajfa-11249	107	3	1	1	NUM
ajfa-11249	107	4	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-11249	107	5	454	454	NUM
ajfa-11249	107	6	6	6	NUM
ajfa-11249	107	7	.	.	PUNCT
ajfa-11249	108	1	empirical	empirical	ADJ
ajfa-11249	108	2	result	result	NOUN
ajfa-11249	108	3	6.1descriptive	6.1descriptive	ADJ
ajfa-11249	108	4	statistics	statistic	NOUN
ajfa-11249	108	5	the	the	DET
ajfa-11249	108	6	study	study	NOUN
ajfa-11249	108	7	uses	use	VERB
ajfa-11249	108	8	ff	ff	PROPN
ajfa-11249	108	9	model	model	NOUN
ajfa-11249	108	10	to	to	PART
ajfa-11249	108	11	measure	measure	VERB
ajfa-11249	108	12	the	the	DET
ajfa-11249	108	13	fxe	fxe	NOUN
ajfa-11249	108	14	.	.	PUNCT
ajfa-11249	109	1	the	the	DET
ajfa-11249	109	2	study	study	NOUN
ajfa-11249	109	3	finds	find	VERB
ajfa-11249	109	4	that	that	SCONJ
ajfa-11249	109	5	the	the	DET
ajfa-11249	109	6	fxe	fxe	NOUN
ajfa-11249	109	7	may	may	AUX
ajfa-11249	109	8	be	be	AUX
ajfa-11249	109	9	positive	positive	ADJ
ajfa-11249	109	10	for	for	ADP
ajfa-11249	109	11	some	some	DET
ajfa-11249	109	12	companies	company	NOUN
ajfa-11249	109	13	and	and	CCONJ
ajfa-11249	109	14	negative	negative	ADJ
ajfa-11249	109	15	for	for	ADP
ajfa-11249	109	16	others	other	NOUN
ajfa-11249	109	17	.	.	PUNCT
ajfa-11249	110	1	therefore	therefore	ADV
ajfa-11249	110	2	,	,	PUNCT
ajfa-11249	110	3	the	the	DET
ajfa-11249	110	4	study	study	NOUN
ajfa-11249	110	5	divides	divide	VERB
ajfa-11249	110	6	the	the	DET
ajfa-11249	110	7	companies	company	NOUN
ajfa-11249	110	8	into	into	ADP
ajfa-11249	110	9	two	two	NUM
ajfa-11249	110	10	categories	category	NOUN
ajfa-11249	110	11	with	with	ADP
ajfa-11249	110	12	respect	respect	NOUN
ajfa-11249	110	13	to	to	ADP
ajfa-11249	110	14	their	their	PRON
ajfa-11249	110	15	exposure	exposure	NOUN
ajfa-11249	110	16	to	to	ADP
ajfa-11249	110	17	fx	fx	NOUN
ajfa-11249	110	18	risk	risk	NOUN
ajfa-11249	110	19	;	;	PUNCT
ajfa-11249	110	20	positive	positive	ADJ
ajfa-11249	110	21	exposure	exposure	NOUN
ajfa-11249	110	22	companies	company	NOUN
ajfa-11249	110	23	and	and	CCONJ
ajfa-11249	110	24	negative	negative	ADJ
ajfa-11249	110	25	exposure	exposure	NOUN
ajfa-11249	110	26	companies	company	NOUN
ajfa-11249	110	27	.	.	PUNCT
ajfa-11249	111	1	as	as	SCONJ
ajfa-11249	111	2	the	the	DET
ajfa-11249	111	3	positive	positive	ADJ
ajfa-11249	111	4	exposure	exposure	NOUN
ajfa-11249	111	5	companies	company	NOUN
ajfa-11249	111	6	are	be	AUX
ajfa-11249	111	7	positively	positively	ADV
ajfa-11249	111	8	affected	affect	VERB
ajfa-11249	111	9	by	by	ADP
ajfa-11249	111	10	the	the	DET
ajfa-11249	111	11	fx	fx	PROPN
ajfa-11249	111	12	rate	rate	NOUN
ajfa-11249	111	13	,	,	PUNCT
ajfa-11249	111	14	they	they	PRON
ajfa-11249	111	15	have	have	VERB
ajfa-11249	111	16	enough	enough	ADJ
ajfa-11249	111	17	foreign	foreign	ADJ
ajfa-11249	111	18	cash	cash	NOUN
ajfa-11249	111	19	flow	flow	NOUN
ajfa-11249	111	20	to	to	PART
ajfa-11249	111	21	mitigate	mitigate	VERB
ajfa-11249	111	22	the	the	DET
ajfa-11249	111	23	risk	risk	NOUN
ajfa-11249	111	24	arises	arise	VERB
ajfa-11249	111	25	from	from	ADP
ajfa-11249	111	26	the	the	DET
ajfa-11249	111	27	fxfluctuation	fxfluctuation	NOUN
ajfa-11249	111	28	for	for	ADP
ajfa-11249	111	29	availing	avail	VERB
ajfa-11249	111	30	investment	investment	NOUN
ajfa-11249	111	31	opportunities	opportunity	NOUN
ajfa-11249	111	32	.	.	PUNCT
ajfa-11249	112	1	on	on	ADP
ajfa-11249	112	2	the	the	DET
ajfa-11249	112	3	contrary	contrary	ADJ
ajfa-11249	112	4	,	,	PUNCT
ajfa-11249	112	5	negative	negative	ADJ
ajfa-11249	112	6	exposure	exposure	NOUN
ajfa-11249	112	7	companiesare	companiesare	VERB
ajfa-11249	112	8	negatively	negatively	ADV
ajfa-11249	112	9	affected	affect	VERB
ajfa-11249	112	10	by	by	ADP
ajfa-11249	112	11	the	the	DET
ajfa-11249	112	12	fx	fx	PROPN
ajfa-11249	112	13	rate	rate	NOUN
ajfa-11249	112	14	;	;	PUNCT
ajfa-11249	112	15	they	they	PRON
ajfa-11249	112	16	have	have	VERB
ajfa-11249	112	17	major	major	ADJ
ajfa-11249	112	18	difficulties	difficulty	NOUN
ajfa-11249	112	19	,	,	PUNCT
ajfa-11249	112	20	losses	loss	NOUN
ajfa-11249	112	21	and	and	CCONJ
ajfa-11249	112	22	bankruptcy	bankruptcy	NOUN
ajfa-11249	112	23	during	during	ADP
ajfa-11249	112	24	the	the	DET
ajfa-11249	112	25	fluctuation	fluctuation	NOUN
ajfa-11249	112	26	of	of	ADP
ajfa-11249	112	27	the	the	DET
ajfa-11249	112	28	fx	fx	NOUN
ajfa-11249	112	29	rate	rate	NOUN
ajfa-11249	112	30	.	.	PUNCT
ajfa-11249	113	1	therefore	therefore	ADV
ajfa-11249	113	2	,	,	PUNCT
ajfa-11249	113	3	the	the	DET
ajfa-11249	113	4	empirical	empirical	ADJ
ajfa-11249	113	5	result	result	NOUN
ajfa-11249	113	6	for	for	ADP
ajfa-11249	113	7	the	the	DET
ajfa-11249	113	8	positive	positive	ADJ
ajfa-11249	113	9	exposure	exposure	NOUN
ajfa-11249	113	10	companies	company	NOUN
ajfa-11249	113	11	may	may	AUX
ajfa-11249	113	12	differ	differ	VERB
ajfa-11249	113	13	from	from	ADP
ajfa-11249	113	14	the	the	DET
ajfa-11249	113	15	negative	negative	ADJ
ajfa-11249	113	16	exposure	exposure	NOUN
ajfa-11249	113	17	companies	company	NOUN
ajfa-11249	113	18	.	.	PUNCT
ajfa-11249	114	1	the	the	DET
ajfa-11249	114	2	fxe	fxe	NOUN
ajfa-11249	114	3	will	will	AUX
ajfa-11249	114	4	be	be	AUX
ajfa-11249	114	5	estimated	estimate	VERB
ajfa-11249	114	6	using	use	VERB
ajfa-11249	114	7	ffmodel	ffmodel	NOUN
ajfa-11249	114	8	for	for	ADP
ajfa-11249	114	9	each	each	DET
ajfa-11249	114	10	company	company	NOUN
ajfa-11249	114	11	from	from	ADP
ajfa-11249	114	12	2000	2000	NUM
ajfa-11249	114	13	to	to	ADP
ajfa-11249	114	14	2016	2016	NUM
ajfa-11249	114	15	for	for	ADP
ajfa-11249	114	16	quarterly	quarterly	ADJ
ajfa-11249	114	17	time	time	NOUN
ajfa-11249	114	18	horizon	horizon	NOUN
ajfa-11249	114	19	.	.	PUNCT
ajfa-11249	115	1	table	table	NOUN
ajfa-11249	115	2	(	(	PUNCT
ajfa-11249	115	3	i	i	NOUN
ajfa-11249	115	4	)	)	PUNCT
ajfa-11249	115	5	,	,	PUNCT
ajfa-11249	115	6	in	in	ADP
ajfa-11249	115	7	the	the	DET
ajfa-11249	115	8	appendix	appendix	NOUN
ajfa-11249	115	9	,	,	PUNCT
ajfa-11249	115	10	panel	panel	NOUN
ajfa-11249	115	11	apresents	apresent	NOUN
ajfa-11249	115	12	the	the	DET
ajfa-11249	115	13	mean	mean	ADJ
ajfa-11249	115	14	and	and	CCONJ
ajfa-11249	115	15	standard	standard	ADJ
ajfa-11249	115	16	deviation	deviation	NOUN
ajfa-11249	115	17	of	of	ADP
ajfa-11249	115	18	the	the	DET
ajfa-11249	115	19	fxe	fxe	NOUN
ajfa-11249	115	20	for	for	ADP
ajfa-11249	115	21	egx30companies	egx30companie	NOUN
ajfa-11249	115	22	,	,	PUNCT
ajfa-11249	115	23	panel	panel	NOUN
ajfa-11249	115	24	bis	bis	VERB
ajfa-11249	115	25	for	for	ADP
ajfa-11249	115	26	positive	positive	ADJ
ajfa-11249	115	27	exposure	exposure	NOUN
ajfa-11249	115	28	companies	company	NOUN
ajfa-11249	115	29	and	and	CCONJ
ajfa-11249	115	30	panel	panel	NOUN
ajfa-11249	115	31	cis	cis	NOUN
ajfa-11249	115	32	fornegative	fornegative	ADJ
ajfa-11249	115	33	exposure	exposure	NOUN
ajfa-11249	115	34	companies	company	NOUN
ajfa-11249	115	35	.	.	PUNCT
ajfa-11249	116	1	last	last	ADJ
ajfa-11249	116	2	three	three	NUM
ajfa-11249	116	3	columns	column	NOUN
ajfa-11249	116	4	report	report	VERB
ajfa-11249	116	5	the	the	DET
ajfa-11249	116	6	companies	company	NOUN
ajfa-11249	116	7	that	that	PRON
ajfa-11249	116	8	have	have	VERB
ajfa-11249	116	9	a	a	DET
ajfa-11249	116	10	significant	significant	ADJ
ajfa-11249	116	11	exposure	exposure	NOUN
ajfa-11249	116	12	at	at	ADP
ajfa-11249	116	13	10	10	NUM
ajfa-11249	116	14	%	%	NOUN
ajfa-11249	116	15	significance.the	significance.the	DET
ajfa-11249	116	16	table	table	NOUN
ajfa-11249	116	17	reveals	reveal	VERB
ajfa-11249	116	18	that	that	SCONJ
ajfa-11249	116	19	70	70	NUM
ajfa-11249	116	20	%	%	NOUN
ajfa-11249	116	21	of	of	ADP
ajfa-11249	116	22	egx30companies	egx30companie	NOUN
ajfa-11249	116	23	are	be	AUX
ajfa-11249	116	24	significant	significant	ADJ
ajfa-11249	116	25	to	to	PART
ajfa-11249	116	26	fxe(44.5	fxe(44.5	VERB
ajfa-11249	116	27	%	%	ADJ
ajfa-11249	116	28	positive	positive	ADJ
ajfa-11249	116	29	exposure	exposure	NOUN
ajfa-11249	116	30	companies	company	NOUN
ajfa-11249	116	31	,	,	PUNCT
ajfa-11249	116	32	55.5	55.5	NUM
ajfa-11249	116	33	%	%	NOUN
ajfa-11249	116	34	negative	negative	ADJ
ajfa-11249	116	35	exposure	exposure	NOUN
ajfa-11249	116	36	companies	company	NOUN
ajfa-11249	116	37	)	)	PUNCT
ajfa-11249	116	38	.	.	PUNCT
ajfa-11249	117	1	according	accord	VERB
ajfa-11249	117	2	to	to	ADP
ajfa-11249	117	3	that	that	PRON
ajfa-11249	117	4	,	,	PUNCT
ajfa-11249	117	5	the	the	DET
ajfa-11249	117	6	study	study	NOUN
ajfa-11249	117	7	will	will	AUX
ajfa-11249	117	8	reject	reject	VERB
ajfa-11249	117	9	h1	h1	PROPN
ajfa-11249	117	10	.	.	PUNCT
ajfa-11249	118	1	the	the	DET
ajfa-11249	118	2	empirical	empirical	ADJ
ajfa-11249	118	3	result	result	NOUN
ajfa-11249	118	4	will	will	AUX
ajfa-11249	118	5	exclude	exclude	VERB
ajfa-11249	118	6	the	the	DET
ajfa-11249	118	7	30	30	NUM
ajfa-11249	118	8	%	%	NOUN
ajfa-11249	118	9	of	of	ADP
ajfa-11249	118	10	egx30companiesthat	egx30companiesthat	PRON
ajfa-11249	118	11	not	not	PART
ajfa-11249	118	12	significant	significant	ADJ
ajfa-11249	118	13	to	to	PART
ajfa-11249	118	14	fxe	fxe	VERB
ajfa-11249	118	15	.	.	PUNCT
ajfa-11249	119	1	table	table	NOUN
ajfa-11249	119	2	(	(	PUNCT
ajfa-11249	119	3	ii	ii	NOUN
ajfa-11249	119	4	)	)	PUNCT
ajfa-11249	119	5	,	,	PUNCT
ajfa-11249	119	6	in	in	ADP
ajfa-11249	119	7	the	the	DET
ajfa-11249	119	8	appendix	appendix	NOUN
ajfa-11249	119	9	,	,	PUNCT
ajfa-11249	119	10	shows	show	VERB
ajfa-11249	119	11	the	the	DET
ajfa-11249	119	12	descriptive	descriptive	ADJ
ajfa-11249	119	13	statistics	statistic	NOUN
ajfa-11249	119	14	of	of	ADP
ajfa-11249	119	15	the	the	DET
ajfa-11249	119	16	variables	variable	NOUN
ajfa-11249	119	17	used	use	VERB
ajfa-11249	119	18	on	on	ADP
ajfa-11249	119	19	model	model	PROPN
ajfa-11249	119	20	ii	ii	PROPN
ajfa-11249	119	21	.	.	PUNCT
ajfa-11249	120	1	it	it	PRON
ajfa-11249	120	2	shows	show	VERB
ajfa-11249	120	3	that	that	SCONJ
ajfa-11249	120	4	the	the	DET
ajfa-11249	120	5	reinvestment	reinvestment	NOUN
ajfa-11249	120	6	ratio	ratio	NOUN
ajfa-11249	120	7	and	and	CCONJ
ajfa-11249	120	8	gpm	gpm	NOUN
ajfa-11249	120	9	have	have	VERB
ajfa-11249	120	10	the	the	DET
ajfa-11249	120	11	highest	high	ADJ
ajfa-11249	120	12	variation	variation	NOUN
ajfa-11249	120	13	from	from	ADP
ajfa-11249	120	14	the	the	DET
ajfa-11249	120	15	mean	mean	ADJ
ajfa-11249	120	16	and	and	CCONJ
ajfa-11249	120	17	high	high	ADJ
ajfa-11249	120	18	divergence	divergence	NOUN
ajfa-11249	120	19	in	in	ADP
ajfa-11249	120	20	their	their	PRON
ajfa-11249	120	21	value	value	NOUN
ajfa-11249	120	22	.	.	PUNCT
ajfa-11249	121	1	96	96	NUM
ajfa-11249	121	2	%	%	NOUN
ajfa-11249	121	3	of	of	ADP
ajfa-11249	121	4	the	the	DET
ajfa-11249	121	5	variation	variation	NOUN
ajfa-11249	121	6	in	in	ADP
ajfa-11249	121	7	the	the	DET
ajfa-11249	121	8	reinvestment	reinvestment	NOUN
ajfa-11249	121	9	ratio	ratio	NOUN
ajfa-11249	121	10	is	be	AUX
ajfa-11249	121	11	generated	generate	VERB
ajfa-11249	121	12	from	from	ADP
ajfa-11249	121	13	the	the	DET
ajfa-11249	121	14	positive	positive	ADJ
ajfa-11249	121	15	exposure	exposure	NOUN
ajfa-11249	121	16	sample	sample	NOUN
ajfa-11249	121	17	and	and	CCONJ
ajfa-11249	121	18	the	the	DET
ajfa-11249	121	19	remaining	remain	VERB
ajfa-11249	121	20	percentage	percentage	NOUN
ajfa-11249	121	21	is	be	AUX
ajfa-11249	121	22	generated	generate	VERB
ajfa-11249	121	23	from	from	ADP
ajfa-11249	121	24	the	the	DET
ajfa-11249	121	25	negative	negative	ADJ
ajfa-11249	121	26	exposure	exposure	NOUN
ajfa-11249	121	27	sample	sample	NOUN
ajfa-11249	121	28	.	.	PUNCT
ajfa-11249	122	1	the	the	DET
ajfa-11249	122	2	dispersion	dispersion	NOUN
ajfa-11249	122	3	in	in	ADP
ajfa-11249	122	4	the	the	DET
ajfa-11249	122	5	gpm	gpm	NOUN
ajfa-11249	122	6	ratio	ratio	NOUN
ajfa-11249	122	7	is	be	AUX
ajfa-11249	122	8	generated	generate	VERB
ajfa-11249	122	9	from	from	ADP
ajfa-11249	122	10	the	the	DET
ajfa-11249	122	11	negative	negative	ADJ
ajfa-11249	122	12	exposure	exposure	NOUN
ajfa-11249	122	13	sample	sample	NOUN
ajfa-11249	122	14	as	as	SCONJ
ajfa-11249	122	15	the	the	DET
ajfa-11249	122	16	positive	positive	ADJ
ajfa-11249	122	17	exposure	exposure	NOUN
ajfa-11249	122	18	sample	sample	NOUN
ajfa-11249	122	19	has	have	VERB
ajfa-11249	122	20	a	a	DET
ajfa-11249	122	21	good	good	ADJ
ajfa-11249	122	22	homogeneity	homogeneity	NOUN
ajfa-11249	122	23	in	in	ADP
ajfa-11249	122	24	the	the	DET
ajfa-11249	122	25	data	datum	NOUN
ajfa-11249	122	26	of	of	ADP
ajfa-11249	122	27	the	the	DET
ajfa-11249	122	28	gpm	gpm	NOUN
ajfa-11249	122	29	.	.	PUNCT
ajfa-11249	123	1	it	it	PRON
ajfa-11249	123	2	also	also	ADV
ajfa-11249	123	3	shows	show	VERB
ajfa-11249	123	4	that	that	SCONJ
ajfa-11249	123	5	there	there	PRON
ajfa-11249	123	6	are	be	VERB
ajfa-11249	123	7	dispersions	dispersion	NOUN
ajfa-11249	123	8	in	in	ADP
ajfa-11249	123	9	current	current	ADJ
ajfa-11249	123	10	ratio	ratio	NOUN
ajfa-11249	123	11	,	,	PUNCT
ajfa-11249	123	12	mtbv	mtbv	PRON
ajfa-11249	123	13	,	,	PUNCT
ajfa-11249	123	14	asset	asset	NOUN
ajfa-11249	123	15	turnover	turnover	NOUN
ajfa-11249	123	16	,	,	PUNCT
ajfa-11249	123	17	hhi	hhi	NOUN
ajfa-11249	123	18	and	and	CCONJ
ajfa-11249	123	19	roa	roa	PROPN
ajfa-11249	123	20	,	,	PUNCT
ajfa-11249	123	21	as	as	SCONJ
ajfa-11249	123	22	the	the	DET
ajfa-11249	123	23	minimum	minimum	NOUN
ajfa-11249	123	24	and	and	CCONJ
ajfa-11249	123	25	maximum	maximum	ADJ
ajfa-11249	123	26	for	for	ADP
ajfa-11249	123	27	each	each	DET
ajfa-11249	123	28	variable	variable	NOUN
ajfa-11249	123	29	have	have	VERB
ajfa-11249	123	30	a	a	DET
ajfa-11249	123	31	great	great	ADJ
ajfa-11249	123	32	divergence	divergence	NOUN
ajfa-11249	123	33	in	in	ADP
ajfa-11249	123	34	their	their	PRON
ajfa-11249	123	35	value	value	NOUN
ajfa-11249	123	36	.	.	PUNCT
ajfa-11249	124	1	the	the	DET
ajfa-11249	124	2	dispersions	dispersion	NOUN
ajfa-11249	124	3	in	in	ADP
ajfa-11249	124	4	the	the	DET
ajfa-11249	124	5	data	datum	NOUN
ajfa-11249	124	6	of	of	ADP
ajfa-11249	124	7	roa	roa	NOUN
ajfa-11249	124	8	and	and	CCONJ
ajfa-11249	124	9	current	current	ADJ
ajfa-11249	124	10	ratio	ratio	NOUN
ajfa-11249	124	11	are	be	AUX
ajfa-11249	124	12	generated	generate	VERB
ajfa-11249	124	13	from	from	ADP
ajfa-11249	124	14	the	the	DET
ajfa-11249	124	15	positive	positive	ADJ
ajfa-11249	124	16	exposure	exposure	NOUN
ajfa-11249	124	17	sample	sample	NOUN
ajfa-11249	124	18	more	more	ADJ
ajfa-11249	124	19	than	than	ADP
ajfa-11249	124	20	the	the	DET
ajfa-11249	124	21	negative	negative	ADJ
ajfa-11249	124	22	exposure	exposure	NOUN
ajfa-11249	124	23	sample	sample	NOUN
ajfa-11249	124	24	.	.	PUNCT
ajfa-11249	125	1	however	however	ADV
ajfa-11249	125	2	,	,	PUNCT
ajfa-11249	125	3	the	the	DET
ajfa-11249	125	4	dispersions	dispersion	NOUN
ajfa-11249	125	5	in	in	ADP
ajfa-11249	125	6	the	the	DET
ajfa-11249	125	7	data	datum	NOUN
ajfa-11249	125	8	of	of	ADP
ajfa-11249	125	9	mtbv	mtbv	ADJ
ajfa-11249	125	10	,	,	PUNCT
ajfa-11249	125	11	asset	asset	NOUN
ajfa-11249	125	12	turnover	turnover	NOUN
ajfa-11249	125	13	and	and	CCONJ
ajfa-11249	125	14	hhiare	hhiare	ADJ
ajfa-11249	125	15	generatedfrom	generatedfrom	ADJ
ajfa-11249	125	16	negative	negative	ADJ
ajfa-11249	125	17	exposure	exposure	NOUN
ajfa-11249	125	18	sample	sample	NOUN
ajfa-11249	125	19	more	more	ADJ
ajfa-11249	125	20	than	than	ADP
ajfa-11249	125	21	the	the	DET
ajfa-11249	125	22	positive	positive	ADJ
ajfa-11249	125	23	exposure	exposure	NOUN
ajfa-11249	125	24	sample	sample	NOUN
ajfa-11249	125	25	.	.	PUNCT
ajfa-11249	126	1	moreover	moreover	ADV
ajfa-11249	126	2	,	,	PUNCT
ajfa-11249	126	3	there	there	PRON
ajfa-11249	126	4	is	be	VERB
ajfa-11249	126	5	a	a	DET
ajfa-11249	126	6	good	good	ADJ
ajfa-11249	126	7	homogeneity	homogeneity	NOUN
ajfa-11249	126	8	in	in	ADP
ajfa-11249	126	9	the	the	DET
ajfa-11249	126	10	debt	debt	NOUN
ajfa-11249	126	11	ratio	ratio	NOUN
ajfa-11249	126	12	,	,	PUNCT
ajfa-11249	126	13	asset	asset	NOUN
ajfa-11249	126	14	tangibility	tangibility	NOUN
ajfa-11249	126	15	and	and	CCONJ
ajfa-11249	126	16	size	size	NOUN
ajfa-11249	126	17	,	,	PUNCT
ajfa-11249	126	18	as	as	SCONJ
ajfa-11249	126	19	the	the	DET
ajfa-11249	126	20	minimum	minimum	NOUN
ajfa-11249	126	21	and	and	CCONJ
ajfa-11249	126	22	maximum	maximum	ADJ
ajfa-11249	126	23	for	for	ADP
ajfa-11249	126	24	each	each	DET
ajfa-11249	126	25	variable	variable	NOUN
ajfa-11249	126	26	have	have	VERB
ajfa-11249	126	27	a	a	DET
ajfa-11249	126	28	good	good	ADJ
ajfa-11249	126	29	homogeneity	homogeneity	NOUN
ajfa-11249	126	30	in	in	ADP
ajfa-11249	126	31	their	their	PRON
ajfa-11249	126	32	value	value	NOUN
ajfa-11249	126	33	.	.	PUNCT
ajfa-11249	127	1	therefore	therefore	ADV
ajfa-11249	127	2	,	,	PUNCT
ajfa-11249	127	3	it	it	PRON
ajfa-11249	127	4	makes	make	VERB
ajfa-11249	127	5	the	the	DET
ajfa-11249	127	6	model	model	NOUN
ajfa-11249	127	7	more	more	ADV
ajfa-11249	127	8	appropriate	appropriate	ADJ
ajfa-11249	127	9	.	.	PUNCT
ajfa-11249	128	1	figure	figure	NOUN
ajfa-11249	128	2	(	(	PUNCT
ajfa-11249	128	3	i	i	NOUN
ajfa-11249	128	4	)	)	PUNCT
ajfa-11249	128	5	and	and	CCONJ
ajfa-11249	128	6	figure(ii	figure(ii	NOUN
ajfa-11249	128	7	)	)	PUNCT
ajfa-11249	128	8	,	,	PUNCT
ajfa-11249	128	9	in	in	ADP
ajfa-11249	128	10	the	the	DET
ajfa-11249	128	11	appendix	appendix	NOUN
ajfa-11249	128	12	,	,	PUNCT
ajfa-11249	128	13	will	will	AUX
ajfa-11249	128	14	prove	prove	VERB
ajfa-11249	128	15	the	the	DET
ajfa-11249	128	16	normality	normality	NOUN
ajfa-11249	128	17	of	of	ADP
ajfa-11249	128	18	the	the	DET
ajfa-11249	128	19	model.figure	model.figure	NOUN
ajfa-11249	128	20	(	(	PUNCT
ajfa-11249	128	21	i	i	NOUN
ajfa-11249	128	22	)	)	PUNCT
ajfa-11249	128	23	shows	show	VERB
ajfa-11249	128	24	that	that	SCONJ
ajfa-11249	128	25	all	all	DET
ajfa-11249	128	26	the	the	DET
ajfa-11249	128	27	points	point	NOUN
ajfa-11249	128	28	are	be	AUX
ajfa-11249	128	29	too	too	ADV
ajfa-11249	128	30	close	close	ADJ
ajfa-11249	128	31	to	to	ADP
ajfa-11249	128	32	the	the	DET
ajfa-11249	128	33	line	line	NOUN
ajfa-11249	128	34	.	.	PUNCT
ajfa-11249	129	1	in	in	ADP
ajfa-11249	129	2	addition	addition	NOUN
ajfa-11249	129	3	,	,	PUNCT
ajfa-11249	129	4	figure	figure	NOUN
ajfa-11249	129	5	(	(	PUNCT
ajfa-11249	129	6	ii	ii	NOUN
ajfa-11249	129	7	)	)	PUNCT
ajfa-11249	129	8	clarifies	clarify	VERB
ajfa-11249	129	9	the	the	DET
ajfa-11249	129	10	normality	normality	NOUN
ajfa-11249	129	11	of	of	ADP
ajfa-11249	129	12	the	the	DET
ajfa-11249	129	13	fxe	fxe	NOUN
ajfa-11249	129	14	along	along	ADP
ajfa-11249	129	15	the	the	DET
ajfa-11249	129	16	companies	company	NOUN
ajfa-11249	129	17	,	,	PUNCT
ajfa-11249	129	18	as	as	SCONJ
ajfa-11249	129	19	it	it	PRON
ajfa-11249	129	20	shows	show	VERB
ajfa-11249	129	21	that	that	SCONJ
ajfa-11249	129	22	the	the	DET
ajfa-11249	129	23	data	datum	NOUN
ajfa-11249	129	24	’s	’s	PART
ajfa-11249	129	25	behavior	behavior	NOUN
ajfa-11249	129	26	is	be	AUX
ajfa-11249	129	27	normal	normal	ADJ
ajfa-11249	129	28	,	,	PUNCT
ajfa-11249	129	29	so	so	ADV
ajfa-11249	129	30	asian	asian	ADJ
ajfa-11249	129	31	journal	journal	NOUN
ajfa-11249	129	32	of	of	ADP
ajfa-11249	129	33	finance	finance	PROPN
ajfa-11249	129	34	&	&	CCONJ
ajfa-11249	129	35	accounting	accounting	PROPN
ajfa-11249	129	36	issn	issn	PROPN
ajfa-11249	129	37	1946	1946	NUM
ajfa-11249	129	38	-	-	PUNCT
ajfa-11249	129	39	052x	052x	PROPN
ajfa-11249	129	40	2017	2017	NUM
ajfa-11249	129	41	,	,	PUNCT
ajfa-11249	129	42	vol	vol	NOUN
ajfa-11249	129	43	.	.	NOUN
ajfa-11249	130	1	9	9	NUM
ajfa-11249	130	2	,	,	PUNCT
ajfa-11249	130	3	no	no	INTJ
ajfa-11249	130	4	.	.	NOUN
ajfa-11249	130	5	1	1	NUM
ajfa-11249	130	6	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-11249	130	7	455	455	NUM
ajfa-11249	131	1	the	the	DET
ajfa-11249	131	2	regression	regression	NOUN
ajfa-11249	131	3	modelcan	modelcan	AUX
ajfa-11249	131	4	be	be	AUX
ajfa-11249	131	5	used	use	VERB
ajfa-11249	131	6	.	.	PUNCT
ajfa-11249	132	1	6.2regression	6.2regression	NUM
ajfa-11249	132	2	analysis	analysis	NOUN
ajfa-11249	132	3	the	the	DET
ajfa-11249	132	4	coefficient	coefficient	NOUN
ajfa-11249	132	5	of	of	ADP
ajfa-11249	132	6	determinationr2	determinationr2	NOUN
ajfa-11249	132	7	indicates	indicate	VERB
ajfa-11249	132	8	the	the	DET
ajfa-11249	132	9	proportion	proportion	NOUN
ajfa-11249	132	10	of	of	ADP
ajfa-11249	132	11	variations	variation	NOUN
ajfa-11249	132	12	in	in	ADP
ajfa-11249	132	13	the	the	DET
ajfa-11249	132	14	dependent	dependent	ADJ
ajfa-11249	132	15	variable	variable	NOUN
ajfa-11249	132	16	because	because	SCONJ
ajfa-11249	132	17	of	of	ADP
ajfa-11249	132	18	the	the	DET
ajfa-11249	132	19	effect	effect	NOUN
ajfa-11249	132	20	of	of	ADP
ajfa-11249	132	21	the	the	DET
ajfa-11249	132	22	independent	independent	ADJ
ajfa-11249	132	23	variables	variable	NOUN
ajfa-11249	132	24	.	.	PUNCT
ajfa-11249	133	1	model	model	NOUN
ajfa-11249	133	2	i	i	PRON
ajfa-11249	133	3	used	use	VERB
ajfa-11249	133	4	to	to	PART
ajfa-11249	133	5	estimate	estimate	VERB
ajfa-11249	133	6	the	the	DET
ajfa-11249	133	7	fxe	fxe	NOUN
ajfa-11249	133	8	(	(	PUNCT
ajfa-11249	133	9	)	)	PUNCT
ajfa-11249	133	10	as	as	SCONJ
ajfa-11249	133	11	discussed	discuss	VERB
ajfa-11249	133	12	before	before	ADV
ajfa-11249	133	13	,	,	PUNCT
ajfa-11249	133	14	using	use	VERB
ajfa-11249	133	15	ff	ff	NOUN
ajfa-11249	133	16	model	model	NOUN
ajfa-11249	133	17	.	.	PUNCT
ajfa-11249	134	1	r	r	NOUN
ajfa-11249	134	2	,	,	PUNCT
ajfa-11249	134	3	=	=	SYM
ajfa-11249	134	4	α	α	PROPN
ajfa-11249	134	5	+	+	X
ajfa-11249	134	6	β	β	X
ajfa-11249	134	7	mrp	mrp	NOUN
ajfa-11249	134	8	+	+	CCONJ
ajfa-11249	134	9	β	β	X
ajfa-11249	134	10	smb	smb	NOUN
ajfa-11249	135	1	+	+	CCONJ
ajfa-11249	135	2	β	β	X
ajfa-11249	135	3	hml	hml	NOUN
ajfa-11249	135	4	+	+	CCONJ
ajfa-11249	135	5	γ	γ	X
ajfa-11249	135	6	xr	xr	PROPN
ajfa-11249	135	7	,	,	PUNCT
ajfa-11249	135	8	+	+	CCONJ
ajfa-11249	135	9	ε	ε	PROPN
ajfa-11249	135	10	model	model	NOUN
ajfa-11249	135	11	i	i	PRON
ajfa-11249	135	12	by	by	ADP
ajfa-11249	135	13	using	use	VERB
ajfa-11249	135	14	the	the	DET
ajfa-11249	135	15	quarterly	quarterly	ADJ
ajfa-11249	135	16	data	datum	NOUN
ajfa-11249	135	17	of	of	ADP
ajfa-11249	135	18	fxe	fxe	NOUN
ajfa-11249	135	19	(	(	PUNCT
ajfa-11249	135	20	)	)	PUNCT
ajfa-11249	135	21	as	as	ADP
ajfa-11249	135	22	a	a	DET
ajfa-11249	135	23	dependent	dependent	ADJ
ajfa-11249	135	24	variable	variable	NOUN
ajfa-11249	135	25	in	in	ADP
ajfa-11249	135	26	model	model	PROPN
ajfa-11249	135	27	ii	ii	PROPN
ajfa-11249	135	28	,	,	PUNCT
ajfa-11249	135	29	the	the	DET
ajfa-11249	135	30	regression	regression	NOUN
ajfa-11249	135	31	coefficient	coefficient	NOUN
ajfa-11249	135	32	of	of	ADP
ajfa-11249	135	33	the	the	DET
ajfa-11249	135	34	model	model	NOUN
ajfa-11249	135	35	(	(	PUNCT
ajfa-11249	135	36	clarified	clarify	VERB
ajfa-11249	135	37	in	in	ADP
ajfa-11249	135	38	table	table	NOUN
ajfa-11249	135	39	(	(	PUNCT
ajfa-11249	135	40	iii	iii	NOUN
ajfa-11249	135	41	)	)	PUNCT
ajfa-11249	135	42	)	)	PUNCT
ajfa-11249	135	43	,	,	PUNCT
ajfa-11249	135	44	in	in	ADP
ajfa-11249	135	45	the	the	DET
ajfa-11249	135	46	appendix	appendix	NOUN
ajfa-11249	135	47	,	,	PUNCT
ajfa-11249	135	48	can	can	AUX
ajfa-11249	135	49	be	be	AUX
ajfa-11249	135	50	estimated	estimate	VERB
ajfa-11249	135	51	.	.	PUNCT
ajfa-11249	136	1	=	=	NOUN
ajfa-11249	136	2	α+β1reinr+β2current+β3mtbv+β4debt+β5assetturn+β6assettang+β7size+β8hhi+β	α+β1reinr+β2current+β3mtbv+β4debt+β5assetturn+β6assettang+β7size+β8hhi+β	NOUN
ajfa-11249	136	3	9roa	9roa	NOUN
ajfa-11249	137	1	+	+	NOUN
ajfa-11249	137	2	β10gpm	β10gpm	PROPN
ajfa-11249	137	3	+	+	NOUN
ajfa-11249	137	4	∈model	∈model	NOUN
ajfa-11249	137	5	ii	ii	NOUN
ajfa-11249	137	6	the	the	DET
ajfa-11249	137	7	result	result	NOUN
ajfa-11249	137	8	in	in	ADP
ajfa-11249	137	9	panel	panel	NOUN
ajfa-11249	137	10	b	b	PROPN
ajfa-11249	137	11	shows	show	VERB
ajfa-11249	137	12	that	that	SCONJ
ajfa-11249	137	13	the	the	DET
ajfa-11249	137	14	reinvestment	reinvestment	NOUN
ajfa-11249	137	15	ratio	ratio	NOUN
ajfa-11249	137	16	has	have	VERB
ajfa-11249	137	17	a	a	DET
ajfa-11249	137	18	positive	positive	ADJ
ajfa-11249	137	19	effect	effect	NOUN
ajfa-11249	137	20	on	on	ADP
ajfa-11249	137	21	the	the	DET
ajfa-11249	137	22	fxe	fxe	NOUN
ajfa-11249	137	23	by	by	ADP
ajfa-11249	137	24	0.038	0.038	NUM
ajfa-11249	137	25	.	.	PUNCT
ajfa-11249	138	1	therefore	therefore	ADV
ajfa-11249	138	2	,	,	PUNCT
ajfa-11249	138	3	when	when	SCONJ
ajfa-11249	138	4	the	the	DET
ajfa-11249	138	5	reinvestment	reinvestment	NOUN
ajfa-11249	138	6	ratio	ratio	NOUN
ajfa-11249	138	7	increases	increase	NOUN
ajfa-11249	138	8	by	by	ADP
ajfa-11249	138	9	one	one	NUM
ajfa-11249	138	10	point	point	NOUN
ajfa-11249	138	11	,	,	PUNCT
ajfa-11249	138	12	the	the	DET
ajfa-11249	138	13	fxe	fxe	NOUN
ajfa-11249	138	14	will	will	AUX
ajfa-11249	138	15	increase	increase	VERB
ajfa-11249	138	16	by	by	ADP
ajfa-11249	138	17	0.038	0.038	NUM
ajfa-11249	138	18	.	.	PUNCT
ajfa-11249	139	1	as	as	ADP
ajfa-11249	139	2	a	a	DET
ajfa-11249	139	3	result	result	NOUN
ajfa-11249	139	4	,	,	PUNCT
ajfa-11249	139	5	companieswith	companieswith	ADJ
ajfa-11249	139	6	high	high	ADJ
ajfa-11249	139	7	reinvestment	reinvestment	NOUN
ajfa-11249	139	8	will	will	AUX
ajfa-11249	139	9	exhibit	exhibit	VERB
ajfa-11249	139	10	more	more	ADJ
ajfa-11249	139	11	risk	risk	NOUN
ajfa-11249	139	12	due	due	ADP
ajfa-11249	139	13	to	to	ADP
ajfa-11249	139	14	the	the	DET
ajfa-11249	139	15	high	high	ADJ
ajfa-11249	139	16	fluctuation	fluctuation	NOUN
ajfa-11249	139	17	in	in	ADP
ajfa-11249	139	18	prices	price	NOUN
ajfa-11249	139	19	.	.	PUNCT
ajfa-11249	140	1	therefore	therefore	ADV
ajfa-11249	140	2	,	,	PUNCT
ajfa-11249	140	3	they	they	PRON
ajfa-11249	140	4	will	will	AUX
ajfa-11249	140	5	exhibit	exhibit	VERB
ajfa-11249	140	6	high	high	ADJ
ajfa-11249	140	7	fxe	fxe	NOUN
ajfa-11249	140	8	.	.	PUNCT
ajfa-11249	141	1	according	accord	VERB
ajfa-11249	141	2	to	to	ADP
ajfa-11249	141	3	that	that	PRON
ajfa-11249	141	4	,	,	PUNCT
ajfa-11249	141	5	the	the	DET
ajfa-11249	141	6	study	study	NOUN
ajfa-11249	141	7	will	will	AUX
ajfa-11249	141	8	accept	accept	VERB
ajfa-11249	141	9	h2	h2	NOUN
ajfa-11249	141	10	.	.	PUNCT
ajfa-11249	142	1	•the	•the	PROPN
ajfa-11249	142	2	result	result	NOUN
ajfa-11249	142	3	shows	show	VERB
ajfa-11249	142	4	that	that	SCONJ
ajfa-11249	142	5	the	the	DET
ajfa-11249	142	6	current	current	ADJ
ajfa-11249	142	7	ratio	ratio	NOUN
ajfa-11249	142	8	isnotsignificant	isnotsignificant	ADJ
ajfa-11249	142	9	to	to	ADP
ajfa-11249	142	10	the	the	DET
ajfa-11249	142	11	fxe	fxe	NOUN
ajfa-11249	142	12	.	.	PUNCT
ajfa-11249	143	1	according	accord	VERB
ajfa-11249	143	2	to	to	ADP
ajfa-11249	143	3	that	that	PRON
ajfa-11249	143	4	,	,	PUNCT
ajfa-11249	143	5	the	the	DET
ajfa-11249	143	6	study	study	NOUN
ajfa-11249	143	7	will	will	AUX
ajfa-11249	143	8	reject	reject	VERB
ajfa-11249	143	9	h3	h3	NOUN
ajfa-11249	143	10	.	.	PUNCT
ajfa-11249	144	1	•the	•the	PROPN
ajfa-11249	144	2	resultsin	resultsin	NOUN
ajfa-11249	144	3	panel	panel	NOUN
ajfa-11249	144	4	a&b	a&b	PROPN
ajfa-11249	144	5	point	point	VERB
ajfa-11249	144	6	out	out	ADP
ajfa-11249	144	7	that	that	SCONJ
ajfa-11249	144	8	the	the	DET
ajfa-11249	144	9	mtbv	mtbv	PROPN
ajfa-11249	144	10	has	have	VERB
ajfa-11249	144	11	a	a	DET
ajfa-11249	144	12	negative	negative	ADJ
ajfa-11249	144	13	effect	effect	NOUN
ajfa-11249	144	14	on	on	ADP
ajfa-11249	144	15	the	the	DET
ajfa-11249	144	16	fxe	fxe	NOUN
ajfa-11249	144	17	by	by	ADP
ajfa-11249	144	18	0.014	0.014	NUM
ajfa-11249	144	19	.	.	PUNCT
ajfa-11249	145	1	therefore	therefore	ADV
ajfa-11249	145	2	,	,	PUNCT
ajfa-11249	145	3	when	when	SCONJ
ajfa-11249	145	4	the	the	DET
ajfa-11249	145	5	mtbv	mtbv	ADJ
ajfa-11249	145	6	increases	increase	VERB
ajfa-11249	145	7	by	by	ADP
ajfa-11249	145	8	one	one	NUM
ajfa-11249	145	9	point	point	NOUN
ajfa-11249	145	10	,	,	PUNCT
ajfa-11249	145	11	the	the	DET
ajfa-11249	145	12	fxe	fxe	NOUN
ajfa-11249	145	13	will	will	AUX
ajfa-11249	145	14	decrease	decrease	VERB
ajfa-11249	145	15	by	by	ADP
ajfa-11249	145	16	0.014	0.014	NUM
ajfa-11249	145	17	.	.	PUNCT
ajfa-11249	146	1	consequently	consequently	ADV
ajfa-11249	146	2	,	,	PUNCT
ajfa-11249	146	3	when	when	SCONJ
ajfa-11249	146	4	the	the	DET
ajfa-11249	146	5	company	company	NOUN
ajfa-11249	146	6	has	have	VERB
ajfa-11249	146	7	high	high	ADJ
ajfa-11249	146	8	growth	growth	NOUN
ajfa-11249	146	9	opportunities	opportunity	NOUN
ajfa-11249	146	10	,	,	PUNCT
ajfa-11249	146	11	it	it	PRON
ajfa-11249	146	12	will	will	AUX
ajfa-11249	146	13	have	have	VERB
ajfa-11249	146	14	more	more	ADJ
ajfa-11249	146	15	diversifications	diversification	NOUN
ajfa-11249	146	16	either	either	CCONJ
ajfa-11249	146	17	through	through	ADP
ajfa-11249	146	18	product	product	NOUN
ajfa-11249	146	19	or	or	CCONJ
ajfa-11249	146	20	through	through	ADP
ajfa-11249	146	21	client	client	NOUN
ajfa-11249	146	22	.	.	PUNCT
ajfa-11249	147	1	therefore	therefore	ADV
ajfa-11249	147	2	,	,	PUNCT
ajfa-11249	147	3	it	it	PRON
ajfa-11249	147	4	will	will	AUX
ajfa-11249	147	5	exhibit	exhibit	VERB
ajfa-11249	147	6	low	low	ADJ
ajfa-11249	147	7	fxe	fxe	NOUN
ajfa-11249	147	8	.	.	PUNCT
ajfa-11249	148	1	according	accord	VERB
ajfa-11249	148	2	to	to	ADP
ajfa-11249	148	3	that	that	PRON
ajfa-11249	148	4	,	,	PUNCT
ajfa-11249	148	5	the	the	DET
ajfa-11249	148	6	study	study	NOUN
ajfa-11249	148	7	will	will	AUX
ajfa-11249	148	8	accept	accept	VERB
ajfa-11249	148	9	h4	h4	NOUN
ajfa-11249	148	10	.	.	PUNCT
ajfa-11249	149	1	•the	•the	PROPN
ajfa-11249	149	2	results	result	NOUN
ajfa-11249	149	3	in	in	ADP
ajfa-11249	149	4	panel	panel	NOUN
ajfa-11249	149	5	a&b	a&b	PROPN
ajfa-11249	149	6	reveal	reveal	VERB
ajfa-11249	149	7	that	that	SCONJ
ajfa-11249	149	8	the	the	DET
ajfa-11249	149	9	debt	debt	NOUN
ajfa-11249	149	10	ratio	ratio	NOUN
ajfa-11249	149	11	has	have	VERB
ajfa-11249	149	12	a	a	DET
ajfa-11249	149	13	positive	positive	ADJ
ajfa-11249	149	14	effect	effect	NOUN
ajfa-11249	149	15	on	on	ADP
ajfa-11249	149	16	the	the	DET
ajfa-11249	149	17	fxe	fxe	NOUN
ajfa-11249	149	18	by	by	ADP
ajfa-11249	149	19	0.227	0.227	NUM
ajfa-11249	149	20	.	.	PUNCT
ajfa-11249	150	1	therefore	therefore	ADV
ajfa-11249	150	2	,	,	PUNCT
ajfa-11249	150	3	when	when	SCONJ
ajfa-11249	150	4	the	the	DET
ajfa-11249	150	5	debt	debt	NOUN
ajfa-11249	150	6	ratio	ratio	NOUN
ajfa-11249	150	7	increases	increase	NOUN
ajfa-11249	150	8	by	by	ADP
ajfa-11249	150	9	one	one	NUM
ajfa-11249	150	10	point	point	NOUN
ajfa-11249	150	11	,	,	PUNCT
ajfa-11249	150	12	the	the	DET
ajfa-11249	150	13	fxe	fxe	NOUN
ajfa-11249	150	14	will	will	AUX
ajfa-11249	150	15	increase	increase	VERB
ajfa-11249	150	16	by	by	ADP
ajfa-11249	150	17	0.227	0.227	NUM
ajfa-11249	150	18	.	.	PUNCT
ajfa-11249	151	1	the	the	DET
ajfa-11249	151	2	high	high	ADJ
ajfa-11249	151	3	debt	debt	NOUN
ajfa-11249	151	4	ratio	ratio	NOUN
ajfa-11249	151	5	indicates	indicate	VERB
ajfa-11249	151	6	that	that	SCONJ
ajfa-11249	151	7	the	the	DET
ajfa-11249	151	8	firm	firm	NOUN
ajfa-11249	151	9	has	have	VERB
ajfa-11249	151	10	poor	poor	ADJ
ajfa-11249	151	11	financial	financial	ADJ
ajfa-11249	151	12	leverage	leverage	NOUN
ajfa-11249	151	13	and	and	CCONJ
ajfa-11249	151	14	expected	expect	VERB
ajfa-11249	151	15	to	to	PART
ajfa-11249	151	16	be	be	AUX
ajfa-11249	151	17	more	more	ADV
ajfa-11249	151	18	subject	subject	ADJ
ajfa-11249	151	19	to	to	ADP
ajfa-11249	151	20	additional	additional	ADJ
ajfa-11249	151	21	risks	risk	NOUN
ajfa-11249	151	22	.	.	PUNCT
ajfa-11249	152	1	according	accord	VERB
ajfa-11249	152	2	to	to	ADP
ajfa-11249	152	3	that	that	PRON
ajfa-11249	152	4	,	,	PUNCT
ajfa-11249	152	5	the	the	DET
ajfa-11249	152	6	study	study	NOUN
ajfa-11249	152	7	will	will	AUX
ajfa-11249	152	8	accept	accept	VERB
ajfa-11249	152	9	h5	h5	PROPN
ajfa-11249	152	10	.	.	PUNCT
ajfa-11249	153	1	•the	•the	PRON
ajfa-11249	153	2	results	result	NOUN
ajfa-11249	153	3	in	in	ADP
ajfa-11249	153	4	panel	panel	NOUN
ajfa-11249	153	5	a&b	a&b	PROPN
ajfa-11249	153	6	also	also	ADV
ajfa-11249	153	7	show	show	VERB
ajfa-11249	153	8	that	that	SCONJ
ajfa-11249	153	9	the	the	DET
ajfa-11249	153	10	asset	asset	NOUN
ajfa-11249	153	11	turnover	turnover	NOUN
ajfa-11249	153	12	has	have	VERB
ajfa-11249	153	13	a	a	DET
ajfa-11249	153	14	positive	positive	ADJ
ajfa-11249	153	15	effect	effect	NOUN
ajfa-11249	153	16	on	on	ADP
ajfa-11249	153	17	the	the	DET
ajfa-11249	153	18	fxe	fxe	NOUN
ajfa-11249	153	19	by	by	ADP
ajfa-11249	153	20	0.842	0.842	NUM
ajfa-11249	153	21	.	.	PUNCT
ajfa-11249	154	1	therefore	therefore	ADV
ajfa-11249	154	2	,	,	PUNCT
ajfa-11249	154	3	when	when	SCONJ
ajfa-11249	154	4	the	the	DET
ajfa-11249	154	5	asset	asset	NOUN
ajfa-11249	154	6	turnover	turnover	NOUN
ajfa-11249	154	7	increases	increase	VERB
ajfa-11249	154	8	by	by	ADP
ajfa-11249	154	9	one	one	NUM
ajfa-11249	154	10	point	point	NOUN
ajfa-11249	154	11	,	,	PUNCT
ajfa-11249	154	12	the	the	DET
ajfa-11249	154	13	fxe	fxe	NOUN
ajfa-11249	154	14	will	will	AUX
ajfa-11249	154	15	increase	increase	VERB
ajfa-11249	154	16	by	by	ADP
ajfa-11249	154	17	0.842	0.842	NUM
ajfa-11249	154	18	.	.	PUNCT
ajfa-11249	155	1	thus	thus	ADV
ajfa-11249	155	2	,	,	PUNCT
ajfa-11249	155	3	when	when	SCONJ
ajfa-11249	155	4	the	the	DET
ajfa-11249	155	5	company	company	NOUN
ajfa-11249	155	6	has	have	VERB
ajfa-11249	155	7	a	a	DET
ajfa-11249	155	8	large	large	ADJ
ajfa-11249	155	9	amount	amount	NOUN
ajfa-11249	155	10	of	of	ADP
ajfa-11249	155	11	sales	sale	NOUN
ajfa-11249	155	12	,	,	PUNCT
ajfa-11249	155	13	it	it	PRON
ajfa-11249	155	14	will	will	AUX
ajfa-11249	155	15	exhibit	exhibit	VERB
ajfa-11249	155	16	high	high	ADJ
ajfa-11249	155	17	fxe	fxe	NOUN
ajfa-11249	155	18	due	due	ADP
ajfa-11249	155	19	to	to	ADP
ajfa-11249	155	20	the	the	DET
ajfa-11249	155	21	high	high	ADJ
ajfa-11249	155	22	change	change	NOUN
ajfa-11249	155	23	in	in	ADP
ajfa-11249	155	24	prices	price	NOUN
ajfa-11249	155	25	and	and	CCONJ
ajfa-11249	155	26	competitive	competitive	ADJ
ajfa-11249	155	27	environment	environment	NOUN
ajfa-11249	155	28	.	.	PUNCT
ajfa-11249	156	1	according	accord	VERB
ajfa-11249	156	2	to	to	ADP
ajfa-11249	156	3	that	that	PRON
ajfa-11249	156	4	,	,	PUNCT
ajfa-11249	156	5	the	the	DET
ajfa-11249	156	6	study	study	NOUN
ajfa-11249	156	7	will	will	AUX
ajfa-11249	156	8	accepth6	accepth6	VERB
ajfa-11249	156	9	.	.	PUNCT
ajfa-11249	157	1	•the	•the	PRON
ajfa-11249	157	2	results	result	NOUN
ajfa-11249	157	3	in	in	ADP
ajfa-11249	157	4	panel	panel	NOUN
ajfa-11249	157	5	a&b	a&b	PROPN
ajfa-11249	157	6	also	also	ADV
ajfa-11249	157	7	show	show	VERB
ajfa-11249	157	8	that	that	SCONJ
ajfa-11249	157	9	the	the	DET
ajfa-11249	157	10	asset	asset	NOUN
ajfa-11249	157	11	tangibility	tangibility	NOUN
ajfa-11249	157	12	has	have	VERB
ajfa-11249	157	13	a	a	DET
ajfa-11249	157	14	positive	positive	ADJ
ajfa-11249	157	15	effect	effect	NOUN
ajfa-11249	157	16	on	on	ADP
ajfa-11249	157	17	the	the	DET
ajfa-11249	157	18	fxe	fxe	NOUN
ajfa-11249	157	19	by	by	ADP
ajfa-11249	157	20	0.161	0.161	NUM
ajfa-11249	157	21	.	.	PUNCT
ajfa-11249	158	1	therefore	therefore	ADV
ajfa-11249	158	2	,	,	PUNCT
ajfa-11249	158	3	when	when	SCONJ
ajfa-11249	158	4	the	the	DET
ajfa-11249	158	5	asset	asset	NOUN
ajfa-11249	158	6	tangibility	tangibility	NOUN
ajfa-11249	158	7	increases	increase	VERB
ajfa-11249	158	8	by	by	ADP
ajfa-11249	158	9	one	one	NUM
ajfa-11249	158	10	point	point	NOUN
ajfa-11249	158	11	,	,	PUNCT
ajfa-11249	158	12	the	the	DET
ajfa-11249	158	13	fxe	fxe	NOUN
ajfa-11249	158	14	will	will	AUX
ajfa-11249	158	15	increase	increase	VERB
ajfa-11249	158	16	by	by	ADP
ajfa-11249	158	17	0.161	0.161	NUM
ajfa-11249	158	18	.	.	PUNCT
ajfa-11249	159	1	as	as	ADP
ajfa-11249	159	2	a	a	DET
ajfa-11249	159	3	result	result	NOUN
ajfa-11249	159	4	,	,	PUNCT
ajfa-11249	159	5	when	when	SCONJ
ajfa-11249	159	6	the	the	DET
ajfa-11249	159	7	company	company	NOUN
ajfa-11249	159	8	has	have	VERB
ajfa-11249	159	9	high	high	ADJ
ajfa-11249	159	10	fixed	fix	VERB
ajfa-11249	159	11	asset	asset	NOUN
ajfa-11249	159	12	compared	compare	VERB
ajfa-11249	159	13	to	to	ADP
ajfa-11249	159	14	total	total	ADJ
ajfa-11249	159	15	asset	asset	NOUN
ajfa-11249	159	16	,	,	PUNCT
ajfa-11249	159	17	it	it	PRON
ajfa-11249	159	18	will	will	AUX
ajfa-11249	159	19	exhibit	exhibit	VERB
ajfa-11249	159	20	high	high	ADJ
ajfa-11249	159	21	fxe	fxe	NOUN
ajfa-11249	159	22	.	.	PUNCT
ajfa-11249	160	1	the	the	DET
ajfa-11249	160	2	reason	reason	NOUN
ajfa-11249	160	3	behind	behind	ADP
ajfa-11249	160	4	that	that	PRON
ajfa-11249	160	5	is	be	AUX
ajfa-11249	160	6	that	that	SCONJ
ajfa-11249	160	7	the	the	DET
ajfa-11249	160	8	fixed	fix	VERB
ajfa-11249	160	9	asset	asset	NOUN
ajfa-11249	160	10	in	in	ADP
ajfa-11249	160	11	the	the	DET
ajfa-11249	160	12	positive	positive	ADJ
ajfa-11249	160	13	exposure	exposure	NOUN
ajfa-11249	160	14	asian	asian	ADJ
ajfa-11249	160	15	journal	journal	NOUN
ajfa-11249	160	16	of	of	ADP
ajfa-11249	160	17	finance	finance	PROPN
ajfa-11249	160	18	&	&	CCONJ
ajfa-11249	160	19	accounting	accounting	PROPN
ajfa-11249	160	20	issn	issn	PROPN
ajfa-11249	160	21	1946	1946	NUM
ajfa-11249	160	22	-	-	PUNCT
ajfa-11249	160	23	052x	052x	PROPN
ajfa-11249	160	24	2017	2017	NUM
ajfa-11249	160	25	,	,	PUNCT
ajfa-11249	160	26	vol	vol	NOUN
ajfa-11249	160	27	.	.	NOUN
ajfa-11249	160	28	9	9	NUM
ajfa-11249	160	29	,	,	PUNCT
ajfa-11249	160	30	no	no	INTJ
ajfa-11249	160	31	.	.	NOUN
ajfa-11249	160	32	1	1	NUM
ajfa-11249	160	33	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-11249	160	34	456	456	NUM
ajfa-11249	160	35	companies	company	NOUN
ajfa-11249	160	36	may	may	AUX
ajfa-11249	160	37	be	be	AUX
ajfa-11249	160	38	more	more	ADV
ajfa-11249	160	39	sensitive	sensitive	ADJ
ajfa-11249	160	40	to	to	ADP
ajfa-11249	160	41	the	the	DET
ajfa-11249	160	42	fx	fx	NOUN
ajfa-11249	160	43	rate	rate	NOUN
ajfa-11249	160	44	,	,	PUNCT
ajfa-11249	160	45	which	which	PRON
ajfa-11249	160	46	leads	lead	VERB
ajfa-11249	160	47	to	to	ADP
ajfa-11249	160	48	high	high	ADJ
ajfa-11249	160	49	risk	risk	NOUN
ajfa-11249	160	50	associated	associate	VERB
ajfa-11249	160	51	with	with	ADP
ajfa-11249	160	52	this	this	DET
ajfa-11249	160	53	fixed	fix	VERB
ajfa-11249	160	54	asset	asset	NOUN
ajfa-11249	160	55	.	.	PUNCT
ajfa-11249	161	1	according	accord	VERB
ajfa-11249	161	2	to	to	ADP
ajfa-11249	161	3	that	that	PRON
ajfa-11249	161	4	,	,	PUNCT
ajfa-11249	161	5	the	the	DET
ajfa-11249	161	6	study	study	NOUN
ajfa-11249	161	7	will	will	AUX
ajfa-11249	161	8	accept	accept	VERB
ajfa-11249	161	9	h7	h7	PROPN
ajfa-11249	161	10	in	in	ADP
ajfa-11249	161	11	panel	panel	NOUN
ajfa-11249	161	12	a&b	a&b	PROPN
ajfa-11249	161	13	.	.	PUNCT
ajfa-11249	162	1	however	however	ADV
ajfa-11249	162	2	,	,	PUNCT
ajfa-11249	162	3	the	the	DET
ajfa-11249	162	4	result	result	NOUN
ajfa-11249	162	5	in	in	ADP
ajfa-11249	162	6	panel	panel	NOUN
ajfa-11249	162	7	c	c	NOUN
ajfa-11249	162	8	is	be	AUX
ajfa-11249	162	9	not	not	PART
ajfa-11249	162	10	compatible	compatible	ADJ
ajfa-11249	162	11	with	with	ADP
ajfa-11249	162	12	this	this	PRON
ajfa-11249	162	13	result.they	result.they	PRON
ajfa-11249	162	14	can	can	AUX
ajfa-11249	162	15	use	use	VERB
ajfa-11249	162	16	the	the	DET
ajfa-11249	162	17	fixed	fix	VERB
ajfa-11249	162	18	asset	asset	NOUN
ajfa-11249	162	19	toprotect	toprotect	VERB
ajfa-11249	162	20	themselves	themselves	PRON
ajfa-11249	162	21	from	from	ADP
ajfa-11249	162	22	the	the	DET
ajfa-11249	162	23	high	high	ADJ
ajfa-11249	162	24	fxe	fxe	NOUN
ajfa-11249	162	25	,	,	PUNCT
ajfa-11249	162	26	as	as	SCONJ
ajfa-11249	162	27	the	the	DET
ajfa-11249	162	28	lower	low	ADJ
ajfa-11249	162	29	current	current	ADJ
ajfa-11249	162	30	assets	asset	NOUN
ajfa-11249	162	31	insulate	insulate	VERB
ajfa-11249	162	32	them	they	PRON
ajfa-11249	162	33	from	from	ADP
ajfa-11249	162	34	changing	change	VERB
ajfa-11249	162	35	input	input	NOUN
ajfa-11249	162	36	cost	cost	NOUN
ajfa-11249	162	37	,	,	PUNCT
ajfa-11249	162	38	which	which	PRON
ajfa-11249	162	39	was	be	AUX
ajfa-11249	162	40	replaced	replace	VERB
ajfa-11249	162	41	by	by	ADP
ajfa-11249	162	42	fixed	fix	VERB
ajfa-11249	162	43	asset	asset	NOUN
ajfa-11249	162	44	.	.	PUNCT
ajfa-11249	163	1	therefore	therefore	ADV
ajfa-11249	163	2	,	,	PUNCT
ajfa-11249	163	3	the	the	DET
ajfa-11249	163	4	fxe	fxe	NOUN
ajfa-11249	163	5	will	will	AUX
ajfa-11249	163	6	have	have	VERB
ajfa-11249	163	7	minimal	minimal	ADJ
ajfa-11249	163	8	impact	impact	NOUN
ajfa-11249	163	9	on	on	ADP
ajfa-11249	163	10	the	the	DET
ajfa-11249	163	11	balance	balance	NOUN
ajfa-11249	163	12	sheet	sheet	NOUN
ajfa-11249	163	13	.	.	PUNCT
ajfa-11249	164	1	therefore	therefore	ADV
ajfa-11249	164	2	,	,	PUNCT
ajfa-11249	164	3	when	when	SCONJ
ajfa-11249	164	4	the	the	DET
ajfa-11249	164	5	fx	fx	NOUN
ajfa-11249	164	6	rate	rate	NOUN
ajfa-11249	164	7	has	have	VERB
ajfa-11249	164	8	a	a	DET
ajfa-11249	164	9	negative	negative	ADJ
ajfa-11249	164	10	effect	effect	NOUN
ajfa-11249	164	11	on	on	ADP
ajfa-11249	164	12	the	the	DET
ajfa-11249	164	13	firm	firm	NOUN
ajfa-11249	164	14	’s	’s	PART
ajfa-11249	164	15	stock	stock	NOUN
ajfa-11249	164	16	return	return	NOUN
ajfa-11249	164	17	,	,	PUNCT
ajfa-11249	164	18	the	the	DET
ajfa-11249	164	19	asset	asset	NOUN
ajfa-11249	164	20	tangibility	tangibility	NOUN
ajfa-11249	164	21	will	will	AUX
ajfa-11249	164	22	have	have	VERB
ajfa-11249	164	23	a	a	DET
ajfa-11249	164	24	negativeeffect	negativeeffect	NOUN
ajfa-11249	164	25	on	on	ADP
ajfa-11249	164	26	the	the	DET
ajfa-11249	164	27	fxe	fxe	NOUN
ajfa-11249	164	28	.	.	PUNCT
ajfa-11249	165	1	according	accord	VERB
ajfa-11249	165	2	to	to	ADP
ajfa-11249	165	3	that	that	PRON
ajfa-11249	165	4	,	,	PUNCT
ajfa-11249	165	5	the	the	DET
ajfa-11249	165	6	study	study	NOUN
ajfa-11249	165	7	will	will	AUX
ajfa-11249	165	8	reject	reject	VERB
ajfa-11249	165	9	h7	h7	PROPN
ajfa-11249	165	10	in	in	ADP
ajfa-11249	165	11	panel	panel	NOUN
ajfa-11249	165	12	c.	c.	PROPN
ajfa-11249	165	13	•the	•the	PROPN
ajfa-11249	165	14	results	result	VERB
ajfa-11249	165	15	in	in	ADP
ajfa-11249	165	16	panel	panel	NOUN
ajfa-11249	165	17	a	a	PRON
ajfa-11249	165	18	&	&	CCONJ
ajfa-11249	165	19	cpoint	cpoint	VERB
ajfa-11249	165	20	out	out	ADP
ajfa-11249	165	21	that	that	SCONJ
ajfa-11249	165	22	the	the	DET
ajfa-11249	165	23	size	size	NOUN
ajfa-11249	165	24	of	of	ADP
ajfa-11249	165	25	the	the	DET
ajfa-11249	165	26	company	company	NOUN
ajfa-11249	165	27	has	have	VERB
ajfa-11249	165	28	a	a	DET
ajfa-11249	165	29	positive	positive	ADJ
ajfa-11249	165	30	effect	effect	NOUN
ajfa-11249	165	31	on	on	ADP
ajfa-11249	165	32	the	the	DET
ajfa-11249	165	33	fxe	fxe	NOUN
ajfa-11249	165	34	by	by	ADP
ajfa-11249	165	35	0.151	0.151	NUM
ajfa-11249	165	36	.	.	PUNCT
ajfa-11249	166	1	therefore	therefore	ADV
ajfa-11249	166	2	,	,	PUNCT
ajfa-11249	166	3	when	when	SCONJ
ajfa-11249	166	4	the	the	DET
ajfa-11249	166	5	size	size	NOUN
ajfa-11249	166	6	increases	increase	VERB
ajfa-11249	166	7	by	by	ADP
ajfa-11249	166	8	one	one	NUM
ajfa-11249	166	9	point	point	NOUN
ajfa-11249	166	10	,	,	PUNCT
ajfa-11249	166	11	the	the	DET
ajfa-11249	166	12	fxe	fxe	NOUN
ajfa-11249	166	13	will	will	AUX
ajfa-11249	166	14	increase	increase	VERB
ajfa-11249	166	15	by	by	ADP
ajfa-11249	166	16	0.151.consequently	0.151.consequently	ADV
ajfa-11249	166	17	,	,	PUNCT
ajfa-11249	166	18	large	large	ADJ
ajfa-11249	166	19	companies	company	NOUN
ajfa-11249	166	20	will	will	AUX
ajfa-11249	166	21	exhibit	exhibit	VERB
ajfa-11249	166	22	more	more	ADJ
ajfa-11249	166	23	fxe	fxe	NOUN
ajfa-11249	166	24	than	than	ADP
ajfa-11249	166	25	small	small	ADJ
ajfa-11249	166	26	companies	company	NOUN
ajfa-11249	166	27	because	because	SCONJ
ajfa-11249	166	28	of	of	ADP
ajfa-11249	166	29	their	their	PRON
ajfa-11249	166	30	high	high	ADJ
ajfa-11249	166	31	ability	ability	NOUN
ajfa-11249	166	32	to	to	PART
ajfa-11249	166	33	compete	compete	VERB
ajfa-11249	166	34	.	.	PUNCT
ajfa-11249	167	1	according	accord	VERB
ajfa-11249	167	2	to	to	ADP
ajfa-11249	167	3	that	that	PRON
ajfa-11249	167	4	,	,	PUNCT
ajfa-11249	167	5	the	the	DET
ajfa-11249	167	6	study	study	NOUN
ajfa-11249	167	7	will	will	AUX
ajfa-11249	167	8	accept	accept	VERB
ajfa-11249	167	9	h8	h8	PROPN
ajfa-11249	167	10	.	.	PUNCT
ajfa-11249	168	1	•the	•the	PROPN
ajfa-11249	168	2	results	result	NOUN
ajfa-11249	168	3	in	in	ADP
ajfa-11249	168	4	panel	panel	NOUN
ajfa-11249	168	5	a	a	PRON
ajfa-11249	168	6	&	&	CCONJ
ajfa-11249	168	7	creveal	creveal	NOUN
ajfa-11249	168	8	that	that	PRON
ajfa-11249	168	9	the	the	DET
ajfa-11249	168	10	hhi	hhi	NOUN
ajfa-11249	168	11	has	have	VERB
ajfa-11249	168	12	a	a	DET
ajfa-11249	168	13	positive	positive	ADJ
ajfa-11249	168	14	effect	effect	NOUN
ajfa-11249	168	15	on	on	ADP
ajfa-11249	168	16	the	the	DET
ajfa-11249	168	17	fxe	fxe	NOUN
ajfa-11249	168	18	by	by	ADP
ajfa-11249	168	19	0.829	0.829	NUM
ajfa-11249	168	20	.	.	PUNCT
ajfa-11249	169	1	therefore	therefore	ADV
ajfa-11249	169	2	,	,	PUNCT
ajfa-11249	169	3	when	when	SCONJ
ajfa-11249	169	4	the	the	DET
ajfa-11249	169	5	hhi	hhi	NOUN
ajfa-11249	169	6	increases	increase	VERB
ajfa-11249	169	7	by	by	ADP
ajfa-11249	169	8	one	one	NUM
ajfa-11249	169	9	point	point	NOUN
ajfa-11249	169	10	,	,	PUNCT
ajfa-11249	169	11	the	the	DET
ajfa-11249	169	12	fxe	fxe	NOUN
ajfa-11249	169	13	will	will	AUX
ajfa-11249	169	14	increase	increase	VERB
ajfa-11249	169	15	by	by	ADP
ajfa-11249	169	16	0.829	0.829	NUM
ajfa-11249	169	17	.	.	PUNCT
ajfa-11249	170	1	so	so	ADV
ajfa-11249	170	2	,	,	PUNCT
ajfa-11249	170	3	fxe	fxe	NOUN
ajfa-11249	170	4	is	be	AUX
ajfa-11249	170	5	greater	great	ADJ
ajfa-11249	170	6	when	when	SCONJ
ajfa-11249	170	7	companies	company	NOUN
ajfa-11249	170	8	face	face	VERB
ajfa-11249	170	9	price	price	NOUN
ajfa-11249	170	10	competition	competition	NOUN
ajfa-11249	170	11	in	in	ADP
ajfa-11249	170	12	domestic	domestic	ADJ
ajfa-11249	170	13	markets	market	NOUN
ajfa-11249	170	14	and	and	CCONJ
ajfa-11249	170	15	when	when	SCONJ
ajfa-11249	170	16	the	the	DET
ajfa-11249	170	17	competitors	competitor	NOUN
ajfa-11249	170	18	compete	compete	VERB
ajfa-11249	170	19	using	use	VERB
ajfa-11249	170	20	an	an	DET
ajfa-11249	170	21	unfair	unfair	ADJ
ajfa-11249	170	22	financial	financial	ADJ
ajfa-11249	170	23	benefit	benefit	NOUN
ajfa-11249	170	24	.	.	PUNCT
ajfa-11249	171	1	according	accord	VERB
ajfa-11249	171	2	to	to	ADP
ajfa-11249	171	3	that	that	PRON
ajfa-11249	171	4	,	,	PUNCT
ajfa-11249	171	5	the	the	DET
ajfa-11249	171	6	study	study	NOUN
ajfa-11249	171	7	will	will	AUX
ajfa-11249	171	8	accept	accept	VERB
ajfa-11249	171	9	h9	h9	NOUN
ajfa-11249	171	10	.	.	PUNCT
ajfa-11249	172	1	•the	•the	PRON
ajfa-11249	172	2	result	result	NOUN
ajfa-11249	172	3	in	in	ADP
ajfa-11249	172	4	panel	panel	NOUN
ajfa-11249	172	5	b	b	PROPN
ajfa-11249	172	6	reveals	reveal	VERB
ajfa-11249	172	7	that	that	SCONJ
ajfa-11249	172	8	the	the	DET
ajfa-11249	172	9	gpmratio	gpmratio	NOUN
ajfa-11249	172	10	has	have	VERB
ajfa-11249	172	11	a	a	DET
ajfa-11249	172	12	negative	negative	ADJ
ajfa-11249	172	13	effect	effect	NOUN
ajfa-11249	172	14	on	on	ADP
ajfa-11249	172	15	the	the	DET
ajfa-11249	172	16	fxe	fxe	NOUN
ajfa-11249	172	17	by	by	ADP
ajfa-11249	172	18	0.143	0.143	NUM
ajfa-11249	172	19	.	.	PUNCT
ajfa-11249	173	1	therefore	therefore	ADV
ajfa-11249	173	2	,	,	PUNCT
ajfa-11249	173	3	when	when	SCONJ
ajfa-11249	173	4	the	the	DET
ajfa-11249	173	5	profit	profit	NOUN
ajfa-11249	173	6	increases	increase	VERB
ajfa-11249	173	7	by	by	ADP
ajfa-11249	173	8	one	one	NUM
ajfa-11249	173	9	point	point	NOUN
ajfa-11249	173	10	,	,	PUNCT
ajfa-11249	173	11	the	the	DET
ajfa-11249	173	12	fxe	fxe	NOUN
ajfa-11249	173	13	will	will	AUX
ajfa-11249	173	14	decrease	decrease	VERB
ajfa-11249	173	15	by	by	ADP
ajfa-11249	173	16	0.143	0.143	NUM
ajfa-11249	173	17	.	.	PUNCT
ajfa-11249	174	1	as	as	ADP
ajfa-11249	174	2	a	a	DET
ajfa-11249	174	3	result	result	NOUN
ajfa-11249	174	4	,	,	PUNCT
ajfa-11249	174	5	companies	company	NOUN
ajfa-11249	174	6	with	with	ADP
ajfa-11249	174	7	high	high	ADJ
ajfa-11249	174	8	profitmargin	profitmargin	NOUN
ajfa-11249	174	9	will	will	AUX
ajfa-11249	174	10	have	have	VERB
ajfa-11249	174	11	more	more	ADJ
ajfa-11249	174	12	flexibility	flexibility	NOUN
ajfa-11249	174	13	in	in	ADP
ajfa-11249	174	14	pricing	pricing	NOUN
ajfa-11249	174	15	goods	good	NOUN
ajfa-11249	174	16	and	and	CCONJ
ajfa-11249	174	17	services	service	NOUN
ajfa-11249	174	18	and	and	CCONJ
ajfa-11249	174	19	can	can	AUX
ajfa-11249	174	20	absorb	absorb	VERB
ajfa-11249	174	21	any	any	DET
ajfa-11249	174	22	shocks	shock	NOUN
ajfa-11249	174	23	more	more	ADV
ajfa-11249	174	24	easily	easily	ADV
ajfa-11249	174	25	than	than	ADP
ajfa-11249	174	26	companies	company	NOUN
ajfa-11249	174	27	with	with	ADP
ajfa-11249	174	28	low	low	ADJ
ajfa-11249	174	29	profitmargin	profitmargin	NOUN
ajfa-11249	174	30	.	.	PUNCT
ajfa-11249	175	1	therefore	therefore	ADV
ajfa-11249	175	2	,	,	PUNCT
ajfa-11249	175	3	they	they	PRON
ajfa-11249	175	4	will	will	AUX
ajfa-11249	175	5	exhibit	exhibit	VERB
ajfa-11249	175	6	low	low	ADJ
ajfa-11249	175	7	fxe	fxe	NOUN
ajfa-11249	175	8	.	.	PUNCT
ajfa-11249	176	1	•the	•the	PRON
ajfa-11249	176	2	result	result	NOUN
ajfa-11249	176	3	in	in	ADP
ajfa-11249	176	4	panel	panel	NOUN
ajfa-11249	176	5	b	b	PROPN
ajfa-11249	176	6	shows	show	VERB
ajfa-11249	176	7	that	that	SCONJ
ajfa-11249	176	8	the	the	DET
ajfa-11249	176	9	roa	roa	PROPN
ajfa-11249	176	10	ratio	ratio	NOUN
ajfa-11249	176	11	has	have	VERB
ajfa-11249	176	12	a	a	DET
ajfa-11249	176	13	negative	negative	ADJ
ajfa-11249	176	14	effect	effect	NOUN
ajfa-11249	176	15	on	on	ADP
ajfa-11249	176	16	the	the	DET
ajfa-11249	176	17	fxe	fxe	NOUN
ajfa-11249	176	18	by	by	ADP
ajfa-11249	176	19	3.451	3.451	NUM
ajfa-11249	176	20	.	.	PUNCT
ajfa-11249	177	1	therefore	therefore	ADV
ajfa-11249	177	2	,	,	PUNCT
ajfa-11249	177	3	when	when	SCONJ
ajfa-11249	177	4	the	the	DET
ajfa-11249	177	5	roa	roa	NOUN
ajfa-11249	177	6	increases	increase	VERB
ajfa-11249	177	7	by	by	ADP
ajfa-11249	177	8	one	one	NUM
ajfa-11249	177	9	point	point	NOUN
ajfa-11249	177	10	,	,	PUNCT
ajfa-11249	177	11	the	the	DET
ajfa-11249	177	12	fxe	fxe	NOUN
ajfa-11249	177	13	will	will	AUX
ajfa-11249	177	14	decrease	decrease	VERB
ajfa-11249	177	15	by	by	ADP
ajfa-11249	177	16	3.451	3.451	NUM
ajfa-11249	177	17	.	.	PUNCT
ajfa-11249	178	1	thus	thus	ADV
ajfa-11249	178	2	,	,	PUNCT
ajfa-11249	178	3	the	the	DET
ajfa-11249	178	4	companies	company	NOUN
ajfa-11249	178	5	with	with	ADP
ajfa-11249	178	6	high	high	ADJ
ajfa-11249	178	7	profit	profit	NOUN
ajfa-11249	178	8	will	will	AUX
ajfa-11249	178	9	have	have	VERB
ajfa-11249	178	10	a	a	DET
ajfa-11249	178	11	natural	natural	ADJ
ajfa-11249	178	12	protection	protection	NOUN
ajfa-11249	178	13	against	against	ADP
ajfa-11249	178	14	any	any	DET
ajfa-11249	178	15	risk	risk	NOUN
ajfa-11249	178	16	so	so	SCONJ
ajfa-11249	178	17	they	they	PRON
ajfa-11249	178	18	will	will	AUX
ajfa-11249	178	19	exhibit	exhibit	VERB
ajfa-11249	178	20	low	low	ADJ
ajfa-11249	178	21	fxe	fxe	NOUN
ajfa-11249	178	22	.	.	PUNCT
ajfa-11249	179	1	according	accord	VERB
ajfa-11249	179	2	to	to	ADP
ajfa-11249	179	3	that	that	PRON
ajfa-11249	179	4	,	,	PUNCT
ajfa-11249	179	5	the	the	DET
ajfa-11249	179	6	study	study	NOUN
ajfa-11249	179	7	will	will	AUX
ajfa-11249	179	8	accept	accept	VERB
ajfa-11249	179	9	h10	h10	NOUN
ajfa-11249	179	10	.	.	PUNCT
ajfa-11249	180	1	however	however	ADV
ajfa-11249	180	2	,	,	PUNCT
ajfa-11249	180	3	this	this	DET
ajfa-11249	180	4	result	result	NOUN
ajfa-11249	180	5	is	be	AUX
ajfa-11249	180	6	not	not	PART
ajfa-11249	180	7	compatible	compatible	ADJ
ajfa-11249	180	8	with	with	ADP
ajfa-11249	180	9	panel	panel	NOUN
ajfa-11249	180	10	cas	cas	VERB
ajfa-11249	180	11	their	their	PRON
ajfa-11249	180	12	high	high	ADJ
ajfa-11249	180	13	profit	profit	NOUN
ajfa-11249	180	14	leads	lead	VERB
ajfa-11249	180	15	to	to	ADP
ajfa-11249	180	16	high	high	ADJ
ajfa-11249	180	17	fxe	fxe	NOUN
ajfa-11249	180	18	.	.	PUNCT
ajfa-11249	181	1	the	the	DET
ajfa-11249	181	2	reason	reason	NOUN
ajfa-11249	181	3	behind	behind	ADP
ajfa-11249	181	4	that	that	PRON
ajfa-11249	181	5	is	be	AUX
ajfa-11249	181	6	that	that	SCONJ
ajfa-11249	181	7	their	their	PRON
ajfa-11249	181	8	profit	profit	NOUN
ajfa-11249	181	9	may	may	AUX
ajfa-11249	181	10	be	be	AUX
ajfa-11249	181	11	generated	generate	VERB
ajfa-11249	181	12	from	from	ADP
ajfa-11249	181	13	high	high	ADJ
ajfa-11249	181	14	-	-	PUNCT
ajfa-11249	181	15	risk	risk	NOUN
ajfa-11249	181	16	operations	operation	NOUN
ajfa-11249	181	17	.	.	PUNCT
ajfa-11249	182	1	therefore	therefore	ADV
ajfa-11249	182	2	,	,	PUNCT
ajfa-11249	182	3	when	when	SCONJ
ajfa-11249	182	4	the	the	DET
ajfa-11249	182	5	fx	fx	NOUN
ajfa-11249	182	6	rate	rate	NOUN
ajfa-11249	182	7	has	have	VERB
ajfa-11249	182	8	a	a	DET
ajfa-11249	182	9	negativeeffect	negativeeffect	NOUN
ajfa-11249	182	10	on	on	ADP
ajfa-11249	182	11	the	the	DET
ajfa-11249	182	12	firm	firm	NOUN
ajfa-11249	182	13	’s	’s	PART
ajfa-11249	182	14	stock	stock	NOUN
ajfa-11249	182	15	return	return	NOUN
ajfa-11249	182	16	,	,	PUNCT
ajfa-11249	182	17	the	the	DET
ajfa-11249	182	18	roa	roa	NOUN
ajfa-11249	182	19	will	will	AUX
ajfa-11249	182	20	have	have	VERB
ajfa-11249	182	21	a	a	DET
ajfa-11249	182	22	positive	positive	ADJ
ajfa-11249	182	23	effect	effect	NOUN
ajfa-11249	182	24	on	on	ADP
ajfa-11249	182	25	the	the	DET
ajfa-11249	182	26	fxe	fxe	NOUN
ajfa-11249	182	27	.	.	PUNCT
ajfa-11249	183	1	according	accord	VERB
ajfa-11249	183	2	to	to	ADP
ajfa-11249	183	3	that	that	PRON
ajfa-11249	183	4	,	,	PUNCT
ajfa-11249	183	5	the	the	DET
ajfa-11249	183	6	study	study	NOUN
ajfa-11249	183	7	will	will	AUX
ajfa-11249	183	8	reject	reject	VERB
ajfa-11249	183	9	h10	h10	PROPN
ajfa-11249	183	10	in	in	ADP
ajfa-11249	183	11	panel	panel	NOUN
ajfa-11249	183	12	c	c	AUX
ajfa-11249	183	13	•the	•the	DET
ajfa-11249	183	14	table	table	NOUN
ajfa-11249	183	15	concludes	conclude	VERB
ajfa-11249	183	16	that	that	SCONJ
ajfa-11249	183	17	the	the	DET
ajfa-11249	183	18	variables	variable	NOUN
ajfa-11249	183	19	in	in	ADP
ajfa-11249	183	20	;	;	PUNCT
ajfa-11249	183	21			ADJ
ajfa-11249	183	22	panel	panel	NOUN
ajfa-11249	183	23	(	(	PUNCT
ajfa-11249	183	24	a	a	X
ajfa-11249	183	25	)	)	PUNCT
ajfa-11249	183	26	can	can	AUX
ajfa-11249	183	27	interpret	interpret	VERB
ajfa-11249	183	28	20.6	20.6	NUM
ajfa-11249	183	29	%	%	NOUN
ajfa-11249	183	30	from	from	ADP
ajfa-11249	183	31	the	the	DET
ajfa-11249	183	32	change	change	NOUN
ajfa-11249	183	33	in	in	ADP
ajfa-11249	183	34	the	the	DET
ajfa-11249	183	35	fxe	fxe	NOUN
ajfa-11249	183	36	.	.	PUNCT
ajfa-11249	184	1	moreover	moreover	ADV
ajfa-11249	184	2	,	,	PUNCT
ajfa-11249	184	3	the	the	DET
ajfa-11249	184	4	hhiand	hhiand	ADJ
ajfa-11249	184	5	asset	asset	NOUN
ajfa-11249	184	6	turnover	turnover	NOUN
ajfa-11249	184	7	have	have	VERB
ajfa-11249	184	8	the	the	DET
ajfa-11249	184	9	most	most	ADJ
ajfa-11249	184	10	affection	affection	NOUN
ajfa-11249	184	11	on	on	ADP
ajfa-11249	184	12	the	the	DET
ajfa-11249	184	13	fxe	fxe	NOUN
ajfa-11249	184	14	.	.	PUNCT
ajfa-11249	185	1			ADJ
ajfa-11249	185	2	panel	panel	NOUN
ajfa-11249	185	3	(	(	PUNCT
ajfa-11249	185	4	b	b	NOUN
ajfa-11249	185	5	)	)	PUNCT
ajfa-11249	185	6	can	can	AUX
ajfa-11249	185	7	interpret	interpret	VERB
ajfa-11249	185	8	40	40	NUM
ajfa-11249	185	9	%	%	NOUN
ajfa-11249	185	10	from	from	ADP
ajfa-11249	185	11	the	the	DET
ajfa-11249	185	12	change	change	NOUN
ajfa-11249	185	13	in	in	ADP
ajfa-11249	185	14	the	the	DET
ajfa-11249	185	15	fxe	fxe	NOUN
ajfa-11249	185	16	.	.	PUNCT
ajfa-11249	186	1	in	in	ADP
ajfa-11249	186	2	addition	addition	NOUN
ajfa-11249	186	3	,	,	PUNCT
ajfa-11249	186	4	the	the	DET
ajfa-11249	186	5	asset	asset	NOUN
ajfa-11249	186	6	tangibility	tangibility	NOUN
ajfa-11249	186	7	,	,	PUNCT
ajfa-11249	186	8	asset	asset	NOUN
ajfa-11249	186	9	turnover	turnover	NOUN
ajfa-11249	186	10	and	and	CCONJ
ajfa-11249	186	11	roa	roa	NOUN
ajfa-11249	186	12	have	have	VERB
ajfa-11249	186	13	the	the	DET
ajfa-11249	186	14	most	most	ADJ
ajfa-11249	186	15	affection	affection	NOUN
ajfa-11249	186	16	on	on	ADP
ajfa-11249	186	17	the	the	DET
ajfa-11249	186	18	fxe	fxe	NOUN
ajfa-11249	186	19	.	.	PUNCT
ajfa-11249	187	1			ADJ
ajfa-11249	187	2	panel	panel	NOUN
ajfa-11249	187	3	(	(	PUNCT
ajfa-11249	187	4	c	c	NOUN
ajfa-11249	187	5	)	)	PUNCT
ajfa-11249	187	6	can	can	AUX
ajfa-11249	187	7	interpret	interpret	VERB
ajfa-11249	187	8	15.7	15.7	NUM
ajfa-11249	187	9	%	%	NOUN
ajfa-11249	187	10	from	from	ADP
ajfa-11249	187	11	the	the	DET
ajfa-11249	187	12	change	change	NOUN
ajfa-11249	187	13	in	in	ADP
ajfa-11249	187	14	the	the	DET
ajfa-11249	187	15	fxe	fxe	NOUN
ajfa-11249	187	16	.	.	PUNCT
ajfa-11249	188	1	in	in	ADP
ajfa-11249	188	2	addition	addition	NOUN
ajfa-11249	188	3	,	,	PUNCT
ajfa-11249	188	4	thehhi	thehhi	NOUN
ajfa-11249	188	5	androa	androa	NOUN
ajfa-11249	188	6	have	have	VERB
ajfa-11249	188	7	the	the	DET
ajfa-11249	188	8	most	most	ADJ
ajfa-11249	188	9	affection	affection	NOUN
ajfa-11249	188	10	on	on	ADP
ajfa-11249	188	11	the	the	DET
ajfa-11249	188	12	fxe	fxe	NOUN
ajfa-11249	188	13	.	.	PUNCT
ajfa-11249	189	1	asian	asian	ADJ
ajfa-11249	189	2	journal	journal	PROPN
ajfa-11249	189	3	of	of	ADP
ajfa-11249	189	4	finance	finance	PROPN
ajfa-11249	189	5	&	&	CCONJ
ajfa-11249	189	6	accounting	accounting	PROPN
ajfa-11249	189	7	issn	issn	PROPN
ajfa-11249	189	8	1946	1946	NUM
ajfa-11249	189	9	-	-	PUNCT
ajfa-11249	189	10	052x	052x	PROPN
ajfa-11249	189	11	2017	2017	NUM
ajfa-11249	189	12	,	,	PUNCT
ajfa-11249	189	13	vol	vol	NOUN
ajfa-11249	189	14	.	.	NOUN
ajfa-11249	189	15	9	9	NUM
ajfa-11249	189	16	,	,	PUNCT
ajfa-11249	189	17	no	no	INTJ
ajfa-11249	189	18	.	.	NOUN
ajfa-11249	189	19	1	1	NUM
ajfa-11249	189	20	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-11249	189	21	457	457	NUM
ajfa-11249	189	22	7	7	NUM
ajfa-11249	189	23	.	.	PUNCT
ajfa-11249	189	24	summary	summary	NOUN
ajfa-11249	189	25	&	&	CCONJ
ajfa-11249	189	26	conclusion	conclusion	NOUN
ajfa-11249	189	27	the	the	DET
ajfa-11249	189	28	study	study	NOUN
ajfa-11249	189	29	estimated	estimate	VERB
ajfa-11249	189	30	the	the	DET
ajfa-11249	189	31	model	model	NOUN
ajfa-11249	189	32	of	of	ADP
ajfa-11249	189	33	fxe	fxe	NOUN
ajfa-11249	189	34	and	and	CCONJ
ajfa-11249	189	35	its	its	PRON
ajfa-11249	189	36	cross	cross	ADJ
ajfa-11249	189	37	-	-	ADJ
ajfa-11249	189	38	sectional	sectional	ADJ
ajfa-11249	189	39	variation	variation	NOUN
ajfa-11249	189	40	in	in	ADP
ajfa-11249	189	41	the	the	DET
ajfa-11249	189	42	egx30	egx30	NOUN
ajfa-11249	189	43	companies’data	companies’data	NOUN
ajfa-11249	189	44	for	for	ADP
ajfa-11249	189	45	the	the	DET
ajfa-11249	189	46	period	period	NOUN
ajfa-11249	189	47	from	from	ADP
ajfa-11249	189	48	2000	2000	NUM
ajfa-11249	189	49	to	to	ADP
ajfa-11249	189	50	2016	2016	NUM
ajfa-11249	189	51	.	.	PUNCT
ajfa-11249	190	1	the	the	DET
ajfa-11249	190	2	results	result	NOUN
ajfa-11249	190	3	show	show	VERB
ajfa-11249	190	4	that	that	SCONJ
ajfa-11249	190	5	70	70	NUM
ajfa-11249	190	6	%	%	NOUN
ajfa-11249	190	7	of	of	ADP
ajfa-11249	190	8	egx30	egx30	NOUN
ajfa-11249	190	9	companies	company	NOUN
ajfa-11249	190	10	were	be	AUX
ajfa-11249	190	11	significant	significant	ADJ
ajfa-11249	190	12	to	to	PART
ajfa-11249	190	13	fxe	fxe	VERB
ajfa-11249	190	14	.	.	PUNCT
ajfa-11249	191	1	moreover	moreover	ADV
ajfa-11249	191	2	,	,	PUNCT
ajfa-11249	191	3	the	the	DET
ajfa-11249	191	4	fxe	fxe	NOUN
ajfa-11249	191	5	is	be	AUX
ajfa-11249	191	6	positively	positively	ADV
ajfa-11249	191	7	related	relate	VERB
ajfa-11249	191	8	to	to	ADP
ajfa-11249	191	9	competitiveness	competitiveness	NOUN
ajfa-11249	191	10	ratio	ratio	NOUN
ajfa-11249	191	11	,	,	PUNCT
ajfa-11249	191	12	financial	financial	ADJ
ajfa-11249	191	13	leverage	leverage	NOUN
ajfa-11249	191	14	,	,	PUNCT
ajfa-11249	191	15	asset	asset	NOUN
ajfa-11249	191	16	turnover	turnover	NOUN
ajfa-11249	191	17	,	,	PUNCT
ajfa-11249	191	18	size	size	NOUN
ajfa-11249	191	19	,	,	PUNCT
ajfa-11249	191	20	reinvestment	reinvestment	NOUN
ajfa-11249	191	21	ratio	ratio	NOUN
ajfa-11249	191	22	,	,	PUNCT
ajfa-11249	191	23	but	but	CCONJ
ajfa-11249	191	24	it	it	PRON
ajfa-11249	191	25	is	be	AUX
ajfa-11249	191	26	negatively	negatively	ADV
ajfa-11249	191	27	related	relate	VERB
ajfa-11249	191	28	to	to	ADP
ajfa-11249	191	29	growth	growth	NOUN
ajfa-11249	191	30	opportunitiesand	opportunitiesand	NOUN
ajfa-11249	191	31	gpm	gpm	PROPN
ajfa-11249	191	32	;	;	PUNCT
ajfa-11249	191	33	however	however	ADV
ajfa-11249	191	34	,	,	PUNCT
ajfa-11249	191	35	the	the	DET
ajfa-11249	191	36	liquidity	liquidity	NOUN
ajfa-11249	191	37	ratio	ratio	NOUN
ajfa-11249	191	38	is	be	AUX
ajfa-11249	191	39	not	not	PART
ajfa-11249	191	40	significant	significant	ADJ
ajfa-11249	191	41	to	to	ADP
ajfa-11249	191	42	the	the	DET
ajfa-11249	191	43	fxe	fxe	NOUN
ajfa-11249	191	44	.	.	PUNCT
ajfa-11249	192	1	positive	positive	ADJ
ajfa-11249	192	2	exposure	exposure	NOUN
ajfa-11249	192	3	companiescharacterized	companiescharacterize	VERB
ajfa-11249	192	4	by	by	ADP
ajfa-11249	192	5	achieving	achieve	VERB
ajfa-11249	192	6	profit	profit	NOUN
ajfa-11249	192	7	during	during	ADP
ajfa-11249	192	8	inflation	inflation	NOUN
ajfa-11249	192	9	period	period	NOUN
ajfa-11249	192	10	while	while	SCONJ
ajfa-11249	192	11	negative	negative	ADJ
ajfa-11249	192	12	exposure	exposure	NOUN
ajfa-11249	192	13	companies	company	NOUN
ajfa-11249	192	14	characterized	characterize	VERB
ajfa-11249	192	15	by	by	ADP
ajfa-11249	192	16	achieving	achieve	VERB
ajfa-11249	192	17	losses	loss	NOUN
ajfa-11249	192	18	during	during	ADP
ajfa-11249	192	19	the	the	DET
ajfa-11249	192	20	inflation	inflation	NOUN
ajfa-11249	192	21	period	period	NOUN
ajfa-11249	192	22	.	.	PUNCT
ajfa-11249	193	1	therefore	therefore	ADV
ajfa-11249	193	2	,	,	PUNCT
ajfa-11249	193	3	the	the	DET
ajfa-11249	193	4	positive	positive	ADJ
ajfa-11249	193	5	exposure	exposure	NOUN
ajfa-11249	193	6	companies	company	NOUN
ajfa-11249	193	7	with	with	ADP
ajfa-11249	193	8	high	high	ADJ
ajfa-11249	193	9	growth	growth	NOUN
ajfa-11249	193	10	opportunities	opportunity	NOUN
ajfa-11249	193	11	,	,	PUNCT
ajfa-11249	193	12	profitability	profitability	NOUN
ajfa-11249	193	13	and	and	CCONJ
ajfa-11249	193	14	low	low	ADJ
ajfa-11249	193	15	debt	debt	NOUN
ajfa-11249	193	16	ratio	ratio	NOUN
ajfa-11249	193	17	will	will	AUX
ajfa-11249	193	18	have	have	VERB
ajfa-11249	193	19	low	low	ADJ
ajfa-11249	193	20	fxe	fxe	NOUN
ajfa-11249	193	21	.	.	PUNCT
ajfa-11249	194	1	however	however	ADV
ajfa-11249	194	2	,	,	PUNCT
ajfa-11249	194	3	the	the	DET
ajfa-11249	194	4	negative	negative	ADJ
ajfa-11249	194	5	exposure	exposure	NOUN
ajfa-11249	194	6	companies	company	NOUN
ajfa-11249	194	7	with	with	ADP
ajfa-11249	194	8	high	high	ADJ
ajfa-11249	194	9	size	size	NOUN
ajfa-11249	194	10	,	,	PUNCT
ajfa-11249	194	11	profitability	profitability	NOUN
ajfa-11249	194	12	and	and	CCONJ
ajfa-11249	194	13	competitiveness	competitiveness	NOUN
ajfa-11249	194	14	will	will	AUX
ajfa-11249	194	15	have	have	VERB
ajfa-11249	194	16	high	high	ADJ
ajfa-11249	194	17	fxe	fxe	NOUN
ajfa-11249	194	18	.	.	PUNCT
ajfa-11249	195	1	therefore	therefore	ADV
ajfa-11249	195	2	,	,	PUNCT
ajfa-11249	195	3	the	the	DET
ajfa-11249	195	4	resultsof	resultsof	NOUN
ajfa-11249	195	5	the	the	DET
ajfa-11249	195	6	positive	positive	ADJ
ajfa-11249	195	7	exposure	exposure	NOUN
ajfa-11249	195	8	companiesdiffer	companiesdiffer	NOUN
ajfa-11249	195	9	from	from	ADP
ajfa-11249	195	10	the	the	DET
ajfa-11249	195	11	results	result	NOUN
ajfa-11249	195	12	of	of	ADP
ajfa-11249	195	13	the	the	DET
ajfa-11249	195	14	negative	negative	ADJ
ajfa-11249	195	15	exposure	exposure	NOUN
ajfa-11249	195	16	companies	company	NOUN
ajfa-11249	195	17	.	.	PUNCT
ajfa-11249	196	1	figure	figure	NOUN
ajfa-11249	196	2	(	(	PUNCT
ajfa-11249	196	3	iii	iii	NOUN
ajfa-11249	196	4	)	)	PUNCT
ajfa-11249	196	5	,	,	PUNCT
ajfa-11249	196	6	in	in	ADP
ajfa-11249	196	7	the	the	DET
ajfa-11249	196	8	appendix	appendix	NOUN
ajfa-11249	196	9	,	,	PUNCT
ajfa-11249	196	10	shows	show	VERB
ajfa-11249	196	11	the	the	DET
ajfa-11249	196	12	effect	effect	NOUN
ajfa-11249	196	13	of	of	ADP
ajfa-11249	196	14	the	the	DET
ajfa-11249	196	15	fxe	fxe	NOUN
ajfa-11249	196	16	on	on	ADP
ajfa-11249	196	17	the	the	DET
ajfa-11249	196	18	financial	financial	ADJ
ajfa-11249	196	19	performance	performance	NOUN
ajfa-11249	196	20	of	of	ADP
ajfa-11249	196	21	the	the	DET
ajfa-11249	196	22	egx30	egx30	NOUN
ajfa-11249	196	23	companies	company	NOUN
ajfa-11249	196	24	.	.	PUNCT
ajfa-11249	197	1	itcan	itcan	PROPN
ajfa-11249	197	2	be	be	AUX
ajfa-11249	197	3	concluded	conclude	VERB
ajfa-11249	197	4	that	that	SCONJ
ajfa-11249	197	5	egx30companies	egx30companie	NOUN
ajfa-11249	197	6	were	be	AUX
ajfa-11249	197	7	affected	affect	VERB
ajfa-11249	197	8	positively	positively	ADV
ajfa-11249	197	9	from	from	ADP
ajfa-11249	197	10	the	the	DET
ajfa-11249	197	11	floating	floating	NOUN
ajfa-11249	197	12	of	of	ADP
ajfa-11249	197	13	the	the	DET
ajfa-11249	197	14	egyptian	egyptian	ADJ
ajfa-11249	197	15	pound	pound	NOUN
ajfa-11249	197	16	.	.	PUNCT
ajfa-11249	198	1	as	as	SCONJ
ajfa-11249	198	2	the	the	DET
ajfa-11249	198	3	stock	stock	NOUN
ajfa-11249	198	4	return	return	NOUN
ajfa-11249	198	5	(	(	PUNCT
ajfa-11249	198	6	financial	financial	ADJ
ajfa-11249	198	7	performance	performance	NOUN
ajfa-11249	198	8	)	)	PUNCT
ajfa-11249	198	9	was	be	AUX
ajfa-11249	198	10	low	low	ADJ
ajfa-11249	198	11	before	before	ADP
ajfa-11249	198	12	2002	2002	NUM
ajfa-11249	198	13	.	.	PUNCT
ajfa-11249	199	1	however	however	ADV
ajfa-11249	199	2	,	,	PUNCT
ajfa-11249	199	3	after	after	ADP
ajfa-11249	199	4	the	the	DET
ajfa-11249	199	5	floating	floating	NOUN
ajfa-11249	199	6	of	of	ADP
ajfa-11249	199	7	the	the	DET
ajfa-11249	199	8	egyptian	egyptian	ADJ
ajfa-11249	199	9	pound	pound	NOUN
ajfa-11249	199	10	at	at	ADP
ajfa-11249	199	11	2002	2002	NUM
ajfa-11249	199	12	-	-	SYM
ajfa-11249	199	13	2003	2003	NUM
ajfa-11249	199	14	,	,	PUNCT
ajfa-11249	199	15	the	the	DET
ajfa-11249	199	16	stock	stock	NOUN
ajfa-11249	199	17	return	return	NOUN
ajfa-11249	199	18	increased	increase	VERB
ajfa-11249	199	19	to	to	ADP
ajfa-11249	199	20	a	a	DET
ajfa-11249	199	21	high	high	ADJ
ajfa-11249	199	22	point	point	NOUN
ajfa-11249	199	23	.	.	PUNCT
ajfa-11249	200	1	then	then	ADV
ajfa-11249	200	2	,	,	PUNCT
ajfa-11249	200	3	in	in	ADP
ajfa-11249	200	4	2007	2007	NUM
ajfa-11249	200	5	,	,	PUNCT
ajfa-11249	200	6	there	there	PRON
ajfa-11249	200	7	was	be	VERB
ajfa-11249	200	8	a	a	DET
ajfa-11249	200	9	decrease	decrease	NOUN
ajfa-11249	200	10	in	in	ADP
ajfa-11249	200	11	the	the	DET
ajfa-11249	200	12	main	main	ADJ
ajfa-11249	200	13	index	index	NOUN
ajfa-11249	200	14	of	of	ADP
ajfa-11249	200	15	the	the	DET
ajfa-11249	200	16	stock	stock	NOUN
ajfa-11249	200	17	exchange	exchange	NOUN
ajfa-11249	200	18	market	market	NOUN
ajfa-11249	200	19	by	by	ADP
ajfa-11249	200	20	56.4	56.4	NUM
ajfa-11249	200	21	%	%	NOUN
ajfa-11249	200	22	,	,	PUNCT
ajfa-11249	200	23	which	which	PRON
ajfa-11249	200	24	led	lead	VERB
ajfa-11249	200	25	to	to	PART
ajfa-11249	200	26	decrease	decrease	VERB
ajfa-11249	200	27	the	the	DET
ajfa-11249	200	28	stock	stock	NOUN
ajfa-11249	200	29	prices	price	NOUN
ajfa-11249	200	30	by	by	ADP
ajfa-11249	200	31	more	more	ADJ
ajfa-11249	200	32	than	than	ADP
ajfa-11249	200	33	50	50	NUM
ajfa-11249	200	34	%	%	NOUN
ajfa-11249	200	35	at	at	ADP
ajfa-11249	200	36	the	the	DET
ajfa-11249	200	37	global	global	ADJ
ajfa-11249	200	38	financial	financial	ADJ
ajfa-11249	200	39	crises	crisis	NOUN
ajfa-11249	200	40	.	.	PUNCT
ajfa-11249	201	1	therefore	therefore	ADV
ajfa-11249	201	2	,	,	PUNCT
ajfa-11249	201	3	the	the	DET
ajfa-11249	201	4	financial	financial	ADJ
ajfa-11249	201	5	performance	performance	NOUN
ajfa-11249	201	6	of	of	ADP
ajfa-11249	201	7	egx30companies	egx30companie	NOUN
ajfa-11249	201	8	decreased	decrease	VERB
ajfa-11249	201	9	in	in	ADP
ajfa-11249	201	10	this	this	DET
ajfa-11249	201	11	period	period	NOUN
ajfa-11249	201	12	by	by	ADP
ajfa-11249	201	13	high	high	ADJ
ajfa-11249	201	14	amount	amount	NOUN
ajfa-11249	201	15	.	.	PUNCT
ajfa-11249	202	1	after	after	ADP
ajfa-11249	202	2	that	that	PRON
ajfa-11249	202	3	,	,	PUNCT
ajfa-11249	202	4	itincreaseduntil	itincreaseduntil	NOUN
ajfa-11249	202	5	2008	2008	NUM
ajfa-11249	202	6	and	and	CCONJ
ajfa-11249	202	7	then	then	ADV
ajfa-11249	202	8	decreaseduntil	decreaseduntil	ADP
ajfa-11249	202	9	2011	2011	NUM
ajfa-11249	202	10	to	to	PART
ajfa-11249	202	11	be	be	AUX
ajfa-11249	202	12	negative	negative	ADJ
ajfa-11249	202	13	because	because	SCONJ
ajfa-11249	202	14	of	of	ADP
ajfa-11249	202	15	the	the	DET
ajfa-11249	202	16	egyptian	egyptian	ADJ
ajfa-11249	202	17	revolution	revolution	PROPN
ajfa-11249	202	18	2011	2011	NUM
ajfa-11249	202	19	.	.	PUNCT
ajfa-11249	203	1	the	the	DET
ajfa-11249	203	2	financial	financial	ADJ
ajfa-11249	203	3	performance	performance	NOUN
ajfa-11249	203	4	fluctuated	fluctuate	VERB
ajfa-11249	203	5	after	after	ADP
ajfa-11249	203	6	that	that	PRON
ajfa-11249	203	7	but	but	CCONJ
ajfa-11249	203	8	not	not	PART
ajfa-11249	203	9	by	by	ADP
ajfa-11249	203	10	the	the	DET
ajfa-11249	203	11	same	same	ADJ
ajfa-11249	203	12	way	way	NOUN
ajfa-11249	203	13	as	as	ADP
ajfa-11249	203	14	before	before	ADV
ajfa-11249	203	15	.	.	PUNCT
ajfa-11249	204	1	however	however	ADV
ajfa-11249	204	2	,	,	PUNCT
ajfa-11249	204	3	after	after	ADP
ajfa-11249	204	4	the	the	DET
ajfa-11249	204	5	floating	floating	NOUN
ajfa-11249	204	6	of	of	ADP
ajfa-11249	204	7	the	the	DET
ajfa-11249	204	8	egyptian	egyptian	ADJ
ajfa-11249	204	9	pound	pound	NOUN
ajfa-11249	204	10	at	at	ADP
ajfa-11249	204	11	the	the	DET
ajfa-11249	204	12	end	end	NOUN
ajfa-11249	204	13	of	of	ADP
ajfa-11249	204	14	2015	2015	NUM
ajfa-11249	204	15	,	,	PUNCT
ajfa-11249	204	16	the	the	DET
ajfa-11249	204	17	financial	financial	ADJ
ajfa-11249	204	18	performance	performance	NOUN
ajfa-11249	204	19	began	begin	VERB
ajfa-11249	204	20	to	to	PART
ajfa-11249	204	21	increase	increase	VERB
ajfa-11249	204	22	.	.	PUNCT
ajfa-11249	205	1	therefore	therefore	ADV
ajfa-11249	205	2	,	,	PUNCT
ajfa-11249	205	3	the	the	DET
ajfa-11249	205	4	study	study	NOUN
ajfa-11249	205	5	can	can	AUX
ajfa-11249	205	6	conclude	conclude	VERB
ajfa-11249	205	7	that	that	SCONJ
ajfa-11249	205	8	the	the	DET
ajfa-11249	205	9	floating	floating	NOUN
ajfa-11249	205	10	of	of	ADP
ajfa-11249	205	11	the	the	DET
ajfa-11249	205	12	egyptian	egyptian	ADJ
ajfa-11249	205	13	pound	pound	NOUN
ajfa-11249	205	14	leads	lead	VERB
ajfa-11249	205	15	to	to	ADP
ajfa-11249	205	16	high	high	ADJ
ajfa-11249	205	17	performance	performance	NOUN
ajfa-11249	205	18	in	in	ADP
ajfa-11249	205	19	the	the	DET
ajfa-11249	205	20	stock	stock	NOUN
ajfa-11249	205	21	market	market	NOUN
ajfa-11249	205	22	,	,	PUNCT
ajfa-11249	205	23	as	as	SCONJ
ajfa-11249	205	24	the	the	DET
ajfa-11249	205	25	investors	investor	NOUN
ajfa-11249	205	26	expect	expect	VERB
ajfa-11249	205	27	more	more	ADJ
ajfa-11249	205	28	profit	profit	NOUN
ajfa-11249	205	29	on	on	ADP
ajfa-11249	205	30	their	their	PRON
ajfa-11249	205	31	investment	investment	NOUN
ajfa-11249	205	32	.	.	PUNCT
ajfa-11249	206	1	the	the	DET
ajfa-11249	206	2	result	result	NOUN
ajfa-11249	206	3	disagrees	disagree	VERB
ajfa-11249	206	4	with	with	ADP
ajfa-11249	206	5	(	(	PUNCT
ajfa-11249	206	6	javed	javed	PROPN
ajfa-11249	206	7	bin	bin	PROPN
ajfa-11249	206	8	kamal	kamal	PROPN
ajfa-11249	206	9	,	,	PUNCT
ajfa-11249	206	10	2016	2016	NUM
ajfa-11249	206	11	,	,	PUNCT
ajfa-11249	206	12	pp	pp	ADJ
ajfa-11249	206	13	.	.	PUNCT
ajfa-11249	207	1	175	175	NUM
ajfa-11249	207	2	-	-	SYM
ajfa-11249	207	3	195)that	195)that	NUM
ajfa-11249	207	4	point	point	VERB
ajfa-11249	207	5	out	out	ADP
ajfa-11249	207	6	that	that	SCONJ
ajfa-11249	207	7	the	the	DET
ajfa-11249	207	8	instability	instability	NOUN
ajfa-11249	207	9	dies	die	VERB
ajfa-11249	207	10	immediately	immediately	ADV
ajfa-11249	207	11	after	after	ADP
ajfa-11249	207	12	a	a	DET
ajfa-11249	207	13	crisis	crisis	NOUN
ajfa-11249	207	14	;	;	PUNCT
ajfa-11249	207	15	meanwhile	meanwhile	ADV
ajfa-11249	207	16	,	,	PUNCT
ajfa-11249	207	17	positive	positive	ADJ
ajfa-11249	207	18	news	news	NOUN
ajfa-11249	207	19	generates	generate	VERB
ajfa-11249	207	20	more	more	ADJ
ajfa-11249	207	21	instability	instability	NOUN
ajfa-11249	207	22	than	than	ADP
ajfa-11249	207	23	negatives	negative	NOUN
ajfa-11249	207	24	.	.	PUNCT
ajfa-11249	208	1	therefore	therefore	ADV
ajfa-11249	208	2	,	,	PUNCT
ajfa-11249	208	3	the	the	DET
ajfa-11249	208	4	financial	financial	ADJ
ajfa-11249	208	5	performance	performance	NOUN
ajfa-11249	208	6	of	of	ADP
ajfa-11249	208	7	egx30companies	egx30companie	NOUN
ajfa-11249	208	8	has	have	VERB
ajfa-11249	208	9	a	a	DET
ajfa-11249	208	10	great	great	ADJ
ajfa-11249	208	11	connection	connection	NOUN
ajfa-11249	208	12	with	with	ADP
ajfa-11249	208	13	the	the	DET
ajfa-11249	208	14	fx	fx	NOUN
ajfa-11249	208	15	rate	rate	NOUN
ajfa-11249	208	16	,	,	PUNCT
ajfa-11249	208	17	especially	especially	ADV
ajfa-11249	208	18	at	at	ADP
ajfa-11249	208	19	the	the	DET
ajfa-11249	208	20	floating	float	VERB
ajfa-11249	208	21	period	period	NOUN
ajfa-11249	208	22	.	.	PUNCT
ajfa-11249	209	1	according	accord	VERB
ajfa-11249	209	2	to	to	ADP
ajfa-11249	209	3	the	the	DET
ajfa-11249	209	4	result	result	NOUN
ajfa-11249	209	5	,	,	PUNCT
ajfa-11249	209	6	the	the	DET
ajfa-11249	209	7	study	study	NOUN
ajfa-11249	209	8	recommendsthe	recommendsthe	VERB
ajfa-11249	209	9	positive	positive	ADJ
ajfa-11249	209	10	exposure	exposure	NOUN
ajfa-11249	209	11	companies	company	NOUN
ajfa-11249	209	12	to	to	PART
ajfa-11249	209	13	depend	depend	VERB
ajfa-11249	209	14	on	on	ADP
ajfa-11249	209	15	the	the	DET
ajfa-11249	209	16	profit	profit	NOUN
ajfa-11249	209	17	to	to	PART
ajfa-11249	209	18	mitigate	mitigate	VERB
ajfa-11249	209	19	the	the	DET
ajfa-11249	209	20	fxe	fxe	NOUN
ajfa-11249	209	21	,	,	PUNCT
ajfa-11249	209	22	as	as	SCONJ
ajfa-11249	209	23	it	it	PRON
ajfa-11249	209	24	has	have	VERB
ajfa-11249	209	25	a	a	DET
ajfa-11249	209	26	good	good	ADJ
ajfa-11249	209	27	homogeneity	homogeneity	NOUN
ajfa-11249	209	28	in	in	ADP
ajfa-11249	209	29	its	its	PRON
ajfa-11249	209	30	data	datum	NOUN
ajfa-11249	209	31	and	and	CCONJ
ajfa-11249	209	32	the	the	DET
ajfa-11249	209	33	empirical	empirical	ADJ
ajfa-11249	209	34	result	result	NOUN
ajfa-11249	209	35	shows	show	VERB
ajfa-11249	209	36	its	its	PRON
ajfa-11249	209	37	negative	negative	ADJ
ajfa-11249	209	38	relation	relation	NOUN
ajfa-11249	209	39	with	with	ADP
ajfa-11249	209	40	the	the	DET
ajfa-11249	209	41	fxe	fxe	NOUN
ajfa-11249	209	42	.	.	PUNCT
ajfa-11249	210	1	however	however	ADV
ajfa-11249	210	2	,	,	PUNCT
ajfa-11249	210	3	the	the	DET
ajfa-11249	210	4	negative	negative	ADJ
ajfa-11249	210	5	exposure	exposure	NOUN
ajfa-11249	210	6	companies	company	NOUN
ajfa-11249	210	7	should	should	AUX
ajfa-11249	210	8	hold	hold	VERB
ajfa-11249	210	9	more	more	ADJ
ajfa-11249	210	10	fixed	fix	VERB
ajfa-11249	210	11	asset	asset	NOUN
ajfa-11249	210	12	compared	compare	VERB
ajfa-11249	210	13	to	to	ADP
ajfa-11249	210	14	the	the	DET
ajfa-11249	210	15	total	total	ADJ
ajfa-11249	210	16	asset	asset	NOUN
ajfa-11249	210	17	to	to	PART
ajfa-11249	210	18	mitigate	mitigate	VERB
ajfa-11249	210	19	the	the	DET
ajfa-11249	210	20	fxe	fxe	NOUN
ajfa-11249	210	21	,	,	PUNCT
ajfa-11249	210	22	as	as	SCONJ
ajfa-11249	210	23	it	it	PRON
ajfa-11249	210	24	has	have	VERB
ajfa-11249	210	25	a	a	DET
ajfa-11249	210	26	good	good	ADJ
ajfa-11249	210	27	homogeneity	homogeneity	NOUN
ajfa-11249	210	28	in	in	ADP
ajfa-11249	210	29	its	its	PRON
ajfa-11249	210	30	data	datum	NOUN
ajfa-11249	210	31	and	and	CCONJ
ajfa-11249	210	32	the	the	DET
ajfa-11249	210	33	empirical	empirical	ADJ
ajfa-11249	210	34	result	result	NOUN
ajfa-11249	210	35	shows	show	VERB
ajfa-11249	210	36	its	its	PRON
ajfa-11249	210	37	negative	negative	ADJ
ajfa-11249	210	38	relation	relation	NOUN
ajfa-11249	210	39	with	with	ADP
ajfa-11249	210	40	the	the	DET
ajfa-11249	210	41	fxe	fxe	NOUN
ajfa-11249	210	42	.	.	PUNCT
ajfa-11249	211	1	the	the	DET
ajfa-11249	211	2	studyalso	studyalso	PROPN
ajfa-11249	211	3	recommends	recommend	VERB
ajfa-11249	211	4	the	the	DET
ajfa-11249	211	5	egx30	egx30	NOUN
ajfa-11249	211	6	companies	company	NOUN
ajfa-11249	211	7	to	to	PART
ajfa-11249	211	8	improve	improve	VERB
ajfa-11249	211	9	the	the	DET
ajfa-11249	211	10	disclosure	disclosure	NOUN
ajfa-11249	211	11	of	of	ADP
ajfa-11249	211	12	the	the	DET
ajfa-11249	211	13	foreign	foreign	ADJ
ajfa-11249	211	14	operation	operation	NOUN
ajfa-11249	211	15	and	and	CCONJ
ajfa-11249	211	16	clarifying	clarify	VERB
ajfa-11249	211	17	the	the	DET
ajfa-11249	211	18	foreign	foreign	ADJ
ajfa-11249	211	19	currency	currency	NOUN
ajfa-11249	211	20	for	for	ADP
ajfa-11249	211	21	each	each	DET
ajfa-11249	211	22	operation	operation	NOUN
ajfa-11249	211	23	in	in	ADP
ajfa-11249	211	24	order	order	NOUN
ajfa-11249	211	25	to	to	PART
ajfa-11249	211	26	measure	measure	VERB
ajfa-11249	211	27	the	the	DET
ajfa-11249	211	28	direct	direct	ADJ
ajfa-11249	211	29	asian	asian	ADJ
ajfa-11249	211	30	journal	journal	NOUN
ajfa-11249	211	31	of	of	ADP
ajfa-11249	211	32	finance	finance	PROPN
ajfa-11249	211	33	&	&	CCONJ
ajfa-11249	211	34	accounting	accounting	PROPN
ajfa-11249	211	35	issn	issn	PROPN
ajfa-11249	211	36	1946	1946	NUM
ajfa-11249	211	37	-	-	PUNCT
ajfa-11249	211	38	052x	052x	PROPN
ajfa-11249	211	39	2017	2017	NUM
ajfa-11249	211	40	,	,	PUNCT
ajfa-11249	211	41	vol	vol	NOUN
ajfa-11249	211	42	.	.	NOUN
ajfa-11249	211	43	9	9	NUM
ajfa-11249	211	44	,	,	PUNCT
ajfa-11249	211	45	no	no	INTJ
ajfa-11249	211	46	.	.	NOUN
ajfa-11249	211	47	1	1	NUM
ajfa-11249	211	48	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-11249	211	49	458	458	NUM
ajfa-11249	211	50	effect	effect	NOUN
ajfa-11249	211	51	of	of	ADP
ajfa-11249	211	52	the	the	DET
ajfa-11249	211	53	fx	fx	NOUN
ajfa-11249	211	54	rate	rate	NOUN
ajfa-11249	211	55	on	on	ADP
ajfa-11249	211	56	the	the	DET
ajfa-11249	211	57	financial	financial	ADJ
ajfa-11249	211	58	performance	performance	NOUN
ajfa-11249	211	59	of	of	ADP
ajfa-11249	211	60	the	the	DET
ajfa-11249	211	61	egx30	egx30	NOUN
ajfa-11249	211	62	companies	company	NOUN
ajfa-11249	211	63	.	.	PUNCT
ajfa-11249	212	1	the	the	DET
ajfa-11249	212	2	study	study	NOUN
ajfa-11249	212	3	limited	limit	VERB
ajfa-11249	212	4	to	to	ADP
ajfa-11249	212	5	the	the	DET
ajfa-11249	212	6	indirect	indirect	ADJ
ajfa-11249	212	7	effect	effect	NOUN
ajfa-11249	212	8	of	of	ADP
ajfa-11249	212	9	the	the	DET
ajfa-11249	212	10	egx30	egx30	NOUN
ajfa-11249	212	11	companies	company	NOUN
ajfa-11249	212	12	.	.	PUNCT
ajfa-11249	213	1	it	it	PRON
ajfa-11249	213	2	also	also	ADV
ajfa-11249	213	3	did	do	AUX
ajfa-11249	213	4	not	not	PART
ajfa-11249	213	5	use	use	VERB
ajfa-11249	213	6	the	the	DET
ajfa-11249	213	7	transaction	transaction	NOUN
ajfa-11249	213	8	,	,	PUNCT
ajfa-11249	213	9	translation	translation	NOUN
ajfa-11249	213	10	and	and	CCONJ
ajfa-11249	213	11	economic	economic	ADJ
ajfa-11249	213	12	exposure	exposure	NOUN
ajfa-11249	213	13	measures	measure	NOUN
ajfa-11249	213	14	to	to	PART
ajfa-11249	213	15	measure	measure	VERB
ajfa-11249	213	16	the	the	DET
ajfa-11249	213	17	fxe	fxe	NOUN
ajfa-11249	213	18	.	.	PUNCT
ajfa-11249	214	1	further	further	ADJ
ajfa-11249	214	2	studies	study	NOUN
ajfa-11249	214	3	can	can	AUX
ajfa-11249	214	4	measure	measure	VERB
ajfa-11249	214	5	the	the	DET
ajfa-11249	214	6	direct	direct	ADJ
ajfa-11249	214	7	fxe	fxe	NOUN
ajfa-11249	214	8	and	and	CCONJ
ajfa-11249	214	9	its	its	PRON
ajfa-11249	214	10	effect	effect	NOUN
ajfa-11249	214	11	on	on	ADP
ajfa-11249	214	12	the	the	DET
ajfa-11249	214	13	companies	company	NOUN
ajfa-11249	214	14	’	’	PART
ajfa-11249	214	15	financial	financial	ADJ
ajfa-11249	214	16	statement	statement	NOUN
ajfa-11249	214	17	.	.	PUNCT
ajfa-11249	215	1	appendix	appendix	NOUN
ajfa-11249	215	2	:	:	PUNCT
ajfa-11249	215	3	table	table	NOUN
ajfa-11249	215	4	(	(	PUNCT
ajfa-11249	215	5	i	i	NOUN
ajfa-11249	215	6	)	)	PUNCT
ajfa-11249	215	7	.	.	PUNCT
ajfa-11249	216	1	descriptive	descriptive	ADJ
ajfa-11249	216	2	statistics	statistic	NOUN
ajfa-11249	216	3	of	of	ADP
ajfa-11249	216	4	foreign	foreign	ADJ
ajfa-11249	216	5	exchange	exchange	NOUN
ajfa-11249	216	6	exposure	exposure	NOUN
ajfa-11249	216	7	source	source	NOUN
ajfa-11249	216	8	:	:	PUNCT
ajfa-11249	216	9	output	output	NOUN
ajfa-11249	216	10	of	of	ADP
ajfa-11249	216	11	spss	spss	PROPN
ajfa-11249	216	12	notes	note	NOUN
ajfa-11249	216	13	:	:	PUNCT
ajfa-11249	216	14	averaged	average	VERB
ajfa-11249	216	15	estimates	estimate	NOUN
ajfa-11249	216	16	of	of	ADP
ajfa-11249	216	17	foreign	foreign	ADJ
ajfa-11249	216	18	exchange	exchange	NOUN
ajfa-11249	216	19	exposure	exposure	NOUN
ajfa-11249	216	20	for	for	ADP
ajfa-11249	216	21	egx	egx	PROPN
ajfa-11249	216	22	30	30	NUM
ajfa-11249	216	23	used	use	VERB
ajfa-11249	216	24	in	in	ADP
ajfa-11249	216	25	the	the	DET
ajfa-11249	216	26	sample	sample	NOUN
ajfa-11249	216	27	from	from	ADP
ajfa-11249	216	28	2000	2000	NUM
ajfa-11249	216	29	until	until	ADP
ajfa-11249	216	30	2016	2016	NUM
ajfa-11249	216	31	.	.	PUNCT
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ajfa-11249	217	2	sample	sample	NOUN
ajfa-11249	217	3	(	(	PUNCT
ajfa-11249	217	4	panel	panel	NOUN
ajfa-11249	217	5	a	a	NOUN
ajfa-11249	217	6	)	)	PUNCT
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ajfa-11249	217	8	exposure	exposure	NOUN
ajfa-11249	217	9	(	(	PUNCT
ajfa-11249	217	10	panel	panel	NOUN
ajfa-11249	217	11	b	b	NOUN
ajfa-11249	217	12	)	)	PUNCT
ajfa-11249	217	13	negative	negative	ADJ
ajfa-11249	217	14	exposure	exposure	NOUN
ajfa-11249	217	15	(	(	PUNCT
ajfa-11249	217	16	panel	panel	NOUN
ajfa-11249	217	17	c	c	NOUN
ajfa-11249	217	18	)	)	PUNCT
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ajfa-11249	217	20	at	at	ADP
ajfa-11249	217	21	0.1	0.1	NUM
ajfa-11249	217	22	level	level	NOUN
ajfa-11249	217	23	n	n	PRON
ajfa-11249	217	24	mean	mean	VERB
ajfa-11249	217	25	standard	standard	ADJ
ajfa-11249	217	26	deviation	deviation	NOUN
ajfa-11249	218	1	n	n	PRON
ajfa-11249	218	2	mean	mean	VERB
ajfa-11249	218	3	standard	standard	ADJ
ajfa-11249	218	4	deviation	deviation	NOUN
ajfa-11249	219	1	n	n	PRON
ajfa-11249	219	2	mean	mean	VERB
ajfa-11249	219	3	standard	standard	ADJ
ajfa-11249	219	4	deviation	deviation	NOUN
ajfa-11249	219	5	tot	tot	VERB
ajfa-11249	219	6	al	al	PROPN
ajfa-11249	219	7	+	+	PROPN
ajfa-11249	219	8	/%	/%	PROPN
ajfa-11249	219	9	3	3	NUM
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ajfa-11249	219	12	-.20145317	-.20145317	PUNCT
ajfa-11249	219	13	.780599332	.780599332	PROPN
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ajfa-11249	219	15	.28835810	.28835810	NOUN
ajfa-11249	219	16	.297082123	.297082123	ADP
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ajfa-11249	219	19	.829449862	.829449862	PROPN
ajfa-11249	219	20	878	878	NUM
ajfa-11249	219	21	391/	391/	NUM
ajfa-11249	219	22	487	487	NUM
ajfa-11249	219	23	70	70	NUM
ajfa-11249	219	24	%	%	NOUN
ajfa-11249	219	25	asian	asian	ADJ
ajfa-11249	219	26	journal	journal	NOUN
ajfa-11249	219	27	of	of	ADP
ajfa-11249	219	28	finance	finance	PROPN
ajfa-11249	219	29	&	&	CCONJ
ajfa-11249	219	30	accounting	accounting	PROPN
ajfa-11249	219	31	issn	issn	PROPN
ajfa-11249	219	32	1946	1946	NUM
ajfa-11249	219	33	-	-	PUNCT
ajfa-11249	219	34	052x	052x	PROPN
ajfa-11249	219	35	2017	2017	NUM
ajfa-11249	219	36	,	,	PUNCT
ajfa-11249	219	37	vol	vol	NOUN
ajfa-11249	219	38	.	.	NOUN
ajfa-11249	220	1	9	9	NUM
ajfa-11249	220	2	,	,	PUNCT
ajfa-11249	220	3	no	no	INTJ
ajfa-11249	220	4	.	.	NOUN
ajfa-11249	220	5	1	1	NUM
ajfa-11249	220	6	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-11249	220	7	459	459	NUM
ajfa-11249	220	8	table	table	NOUN
ajfa-11249	220	9	(	(	PUNCT
ajfa-11249	220	10	ii	ii	NOUN
ajfa-11249	220	11	)	)	PUNCT
ajfa-11249	220	12	.	.	PUNCT
ajfa-11249	221	1	descriptive	descriptive	ADJ
ajfa-11249	221	2	statistics	statistic	NOUN
ajfa-11249	221	3	for	for	ADP
ajfa-11249	221	4	the	the	DET
ajfa-11249	221	5	variablesusing	variablesuse	VERB
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ajfa-11249	221	7	data	datum	NOUN
ajfa-11249	221	8	panel	panel	NOUN
ajfa-11249	221	9	a	a	DET
ajfa-11249	221	10	mean	mean	ADJ
ajfa-11249	221	11	std	std	NOUN
ajfa-11249	221	12	.	.	PUNCT
ajfa-11249	221	13	deviation	deviation	NOUN
ajfa-11249	221	14	coefficient	coefficient	NOUN
ajfa-11249	221	15	of	of	ADP
ajfa-11249	221	16	variation	variation	NOUN
ajfa-11249	221	17	minimum	minimum	ADJ
ajfa-11249	221	18	maximum	maximum	ADJ
ajfa-11249	221	19	reinvestment	reinvestment	NOUN
ajfa-11249	221	20	ratio	ratio	NOUN
ajfa-11249	221	21	-.0153652	-.0153652	PUNCT
ajfa-11249	221	22	.83747795	.83747795	NOUN
ajfa-11249	221	23	-54.5047	-54.5047	PUNCT
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ajfa-11249	221	27	ratio	ratio	NOUN
ajfa-11249	221	28	1.454087	1.454087	NUM
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ajfa-11249	221	30	1.124278	1.124278	NUM
ajfa-11249	221	31	.0000	.0000	NUM
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ajfa-11249	221	33	mtbv	mtbv	ADJ
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ajfa-11249	221	35	4.7803949	4.7803949	NUM
ajfa-11249	221	36	2.064512	2.064512	NUM
ajfa-11249	221	37	-71.3778	-71.3778	SYM
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ajfa-11249	221	41	.639788	.639788	PROPN
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ajfa-11249	222	5	asset	asset	NOUN
ajfa-11249	222	6	turnover	turnover	NOUN
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ajfa-11249	224	2	-.0531	-.0531	PUNCT
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ajfa-11249	224	4	asset	asset	NOUN
ajfa-11249	224	5	tangibility	tangibility	NOUN
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ajfa-11249	225	1	.11754244	.11754244	PROPN
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ajfa-11249	225	5	roa	roa	PROPN
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ajfa-11249	226	2	-.9210	-.9210	NOUN
ajfa-11249	226	3	.2858	.2858	PRON
ajfa-11249	226	4	gpm	gpm	NOUN
ajfa-11249	226	5	.732407	.732407	PROPN
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ajfa-11249	228	2	panel	panel	NOUN
ajfa-11249	228	3	b	b	NOUN
ajfa-11249	228	4	mean	mean	ADJ
ajfa-11249	228	5	std	std	NOUN
ajfa-11249	228	6	.	.	PUNCT
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ajfa-11249	228	11	minimum	minimum	ADJ
ajfa-11249	228	12	maximum	maximum	ADJ
ajfa-11249	228	13	reinvestment	reinvestment	NOUN
ajfa-11249	228	14	ratio	ratio	NOUN
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ajfa-11249	228	17	-29.83981943	-29.83981943	SYM
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ajfa-11249	228	41	turnover	turnover	NOUN
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ajfa-11249	228	43	.1009714	.1009714	VERB
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ajfa-11249	228	47	asset	asset	NOUN
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ajfa-11249	234	7	std	std	X
ajfa-11249	234	8	.	.	PUNCT
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ajfa-11249	236	11	mtbv	mtbv	ADJ
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ajfa-11249	238	11	.341376	.341376	VERB
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ajfa-11249	240	1	.9569	.9569	PROPN
ajfa-11249	240	2	size	size	NOUN
ajfa-11249	240	3	3.571371	3.571371	NUM
ajfa-11249	240	4	.4883675	.4883675	NOUN
ajfa-11249	240	5	0.136745104	0.136745104	NUM
ajfa-11249	240	6	1.7880	1.7880	NUM
ajfa-11249	240	7	4.9488	4.9488	NUM
ajfa-11249	240	8	hhi	hhi	NOUN
ajfa-11249	240	9	.0465667	.0465667	NOUN
ajfa-11249	240	10	.13783767	.13783767	NOUN
ajfa-11249	241	1	2.960005111	2.960005111	NUM
ajfa-11249	241	2	-.00211	-.00211	PUNCT
ajfa-11249	241	3	.99940	.99940	NUM
ajfa-11249	241	4	roa	roa	PROPN
ajfa-11249	241	5	.016303	.016303	PROPN
ajfa-11249	241	6	.0237937	.0237937	PROPN
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ajfa-11249	242	2	-.0695	-.0695	PUNCT
ajfa-11249	242	3	.2209	.2209	VERB
ajfa-11249	242	4	gpm	gpm	NOUN
ajfa-11249	242	5	1.367501	1.367501	NUM
ajfa-11249	242	6	15.6464519	15.6464519	NUM
ajfa-11249	242	7	11.44163836	11.44163836	NUM
ajfa-11249	242	8	-8.0000	-8.0000	NOUN
ajfa-11249	243	1	319.5000	319.5000	NUM
ajfa-11249	243	2	source	source	NOUN
ajfa-11249	243	3	:	:	PUNCT
ajfa-11249	243	4	output	output	NOUN
ajfa-11249	243	5	of	of	ADP
ajfa-11249	243	6	spss	spss	PROPN
ajfa-11249	243	7	notes	note	NOUN
ajfa-11249	243	8	:	:	PUNCT
ajfa-11249	243	9	the	the	DET
ajfa-11249	243	10	sample	sample	NOUN
ajfa-11249	243	11	is	be	AUX
ajfa-11249	243	12	the	the	DET
ajfa-11249	243	13	period	period	NOUN
ajfa-11249	243	14	2000	2000	NUM
ajfa-11249	243	15	until	until	ADP
ajfa-11249	243	16	december	december	PROPN
ajfa-11249	243	17	2016	2016	NUM
ajfa-11249	243	18	(	(	PUNCT
ajfa-11249	243	19	64	64	NUM
ajfa-11249	243	20	quarterly	quarterly	ADV
ajfa-11249	243	21	)	)	PUNCT
ajfa-11249	243	22	for	for	ADP
ajfa-11249	243	23	egx30	egx30	NOUN
ajfa-11249	243	24	companies	company	NOUN
ajfa-11249	243	25	.	.	PUNCT
ajfa-11249	244	1	panel	panel	NOUN
ajfa-11249	244	2	a	a	PRON
ajfa-11249	244	3	is	be	AUX
ajfa-11249	244	4	the	the	DET
ajfa-11249	244	5	full	full	ADJ
ajfa-11249	244	6	sample	sample	NOUN
ajfa-11249	244	7	,	,	PUNCT
ajfa-11249	244	8	panel	panel	NOUN
ajfa-11249	244	9	b	b	PROPN
ajfa-11249	244	10	is	be	AUX
ajfa-11249	244	11	the	the	DET
ajfa-11249	244	12	positive	positive	ADJ
ajfa-11249	244	13	exposure	exposure	NOUN
ajfa-11249	244	14	sample	sample	NOUN
ajfa-11249	244	15	and	and	CCONJ
ajfa-11249	244	16	panel	panel	NOUN
ajfa-11249	244	17	c	c	PROPN
ajfa-11249	244	18	is	be	AUX
ajfa-11249	244	19	the	the	DET
ajfa-11249	244	20	negative	negative	ADJ
ajfa-11249	244	21	exposure	exposure	NOUN
ajfa-11249	244	22	sample	sample	NOUN
ajfa-11249	244	23	.	.	PUNCT
ajfa-11249	245	1	asian	asian	ADJ
ajfa-11249	245	2	journal	journal	PROPN
ajfa-11249	245	3	of	of	ADP
ajfa-11249	245	4	finance	finance	PROPN
ajfa-11249	245	5	&	&	CCONJ
ajfa-11249	245	6	accounting	accounting	PROPN
ajfa-11249	245	7	issn	issn	PROPN
ajfa-11249	245	8	1946	1946	NUM
ajfa-11249	245	9	-	-	PUNCT
ajfa-11249	245	10	052x	052x	PROPN
ajfa-11249	245	11	2017	2017	NUM
ajfa-11249	245	12	,	,	PUNCT
ajfa-11249	245	13	vol	vol	NOUN
ajfa-11249	245	14	.	.	NOUN
ajfa-11249	245	15	9	9	NUM
ajfa-11249	245	16	,	,	PUNCT
ajfa-11249	245	17	no	no	INTJ
ajfa-11249	245	18	.	.	NOUN
ajfa-11249	245	19	1	1	NUM
ajfa-11249	245	20	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-11249	245	21	460	460	NUM
ajfa-11249	245	22	table	table	NOUN
ajfa-11249	245	23	(	(	PUNCT
ajfa-11249	245	24	iii	iii	NOUN
ajfa-11249	245	25	)	)	PUNCT
ajfa-11249	245	26	.	.	PUNCT
ajfa-11249	246	1	regression	regression	VERB
ajfa-11249	246	2	analysis	analysis	NOUN
ajfa-11249	246	3	using	use	VERB
ajfa-11249	246	4	quarterly	quarterly	ADJ
ajfa-11249	246	5	data	datum	NOUN
ajfa-11249	246	6	dependent	dependent	ADJ
ajfa-11249	246	7	variable	variable	ADJ
ajfa-11249	246	8	independent	independent	ADJ
ajfa-11249	246	9	variables	variable	NOUN
ajfa-11249	246	10	β	β	X
ajfa-11249	246	11	t	t	NOUN
ajfa-11249	246	12	f	f	NOUN
ajfa-11249	246	13	r	r	NOUN
ajfa-11249	246	14	collinearity	collinearity	NOUN
ajfa-11249	246	15	statistics	statistic	NOUN
ajfa-11249	246	16	value	value	NOUN
ajfa-11249	246	17	sig	sig	PROPN
ajfa-11249	246	18	.	.	PUNCT
ajfa-11249	247	1	value	value	PROPN
ajfa-11249	247	2	sig	sig	PROPN
ajfa-11249	247	3	.	.	PUNCT
ajfa-11249	248	1	tolera	tolera	PROPN
ajfa-11249	248	2	nce	nce	NOUN
ajfa-11249	248	3	vif	vif	PROPN
ajfa-11249	248	4	panel	panel	NOUN
ajfa-11249	248	5	a	a	DET
ajfa-11249	248	6	foreign	foreign	ADJ
ajfa-11249	248	7	exchange	exchange	NOUN
ajfa-11249	248	8	exposure	exposure	NOUN
ajfa-11249	248	9	mtbv	mtbv	PROPN
ajfa-11249	248	10	-.014	-.014	PROPN
ajfa-11249	249	1	-3.244	-3.244	PRON
ajfa-11249	249	2	.001	.001	NUM
ajfa-11249	249	3	34.181	34.181	NUM
ajfa-11249	249	4	0.000	0.000	NUM
ajfa-11249	249	5	.206	.206	NUM
ajfa-11249	249	6	.461	.461	NUM
ajfa-11249	249	7	.955	.955	NUM
ajfa-11249	249	8	1.047	1.047	NUM
ajfa-11249	249	9	debt	debt	NOUN
ajfa-11249	249	10	ratio	ratio	NOUN
ajfa-11249	249	11	.227	.227	NUM
ajfa-11249	249	12	-3.140	-3.140	PROPN
ajfa-11249	249	13	.002	.002	NUM
ajfa-11249	249	14	.852	.852	NUM
ajfa-11249	249	15	1.174	1.174	NUM
ajfa-11249	249	16	asset	asset	NOUN
ajfa-11249	249	17	turnover	turnover	NOUN
ajfa-11249	249	18	.842	.842	NUM
ajfa-11249	249	19	6.288	6.288	NUM
ajfa-11249	249	20	.000	.000	NUM
ajfa-11249	249	21	.901	.901	NUM
ajfa-11249	249	22	1.110	1.110	NUM
ajfa-11249	249	23	asset	asset	NOUN
ajfa-11249	249	24	tangibility	tangibility	NOUN
ajfa-11249	249	25	.161	.161	NUM
ajfa-11249	249	26	2.448	2.448	NUM
ajfa-11249	249	27	.015	.015	NUM
ajfa-11249	249	28	.807	.807	NUM
ajfa-11249	249	29	1.239	1.239	NUM
ajfa-11249	249	30	size	size	NOUN
ajfa-11249	249	31	.151	.151	NUM
ajfa-11249	249	32	4.380	4.380	NUM
ajfa-11249	249	33	.000	.000	NUM
ajfa-11249	249	34	.894	.894	NUM
ajfa-11249	249	35	1.118	1.118	NUM
ajfa-11249	249	36	hhi	hhi	NOUN
ajfa-11249	249	37	.829	.829	NUM
ajfa-11249	250	1	5.435	5.435	NUM
ajfa-11249	250	2	.000	.000	NUM
ajfa-11249	250	3	.726	.726	NUM
ajfa-11249	250	4	1.376	1.376	NUM
ajfa-11249	250	5	panel	panel	NOUN
ajfa-11249	250	6	b	b	PROPN
ajfa-11249	250	7	foreign	foreign	ADJ
ajfa-11249	250	8	exchange	exchange	NOUN
ajfa-11249	250	9	exposure	exposure	NOUN
ajfa-11249	250	10	reinvestment	reinvestment	NOUN
ajfa-11249	250	11	ratio	ratio	NOUN
ajfa-11249	250	12	.038	.038	NUM
ajfa-11249	250	13	3.393	3.393	NUM
ajfa-11249	250	14	.001	.001	NUM
ajfa-11249	250	15	33.669	33.669	NUM
ajfa-11249	250	16	0.000	0.000	NUM
ajfa-11249	250	17	0.4	0.4	NUM
ajfa-11249	250	18	.642	.642	NUM
ajfa-11249	250	19	.560	.560	NUM
ajfa-11249	250	20	1.787	1.787	NUM
ajfa-11249	250	21	mtbv	mtbv	ADJ
ajfa-11249	250	22	-.015	-.015	ADV
ajfa-11249	250	23	-2.141	-2.141	NUM
ajfa-11249	250	24	.033	.033	NUM
ajfa-11249	250	25	.725	.725	NUM
ajfa-11249	250	26	1.380	1.380	NUM
ajfa-11249	250	27	debt	debt	NOUN
ajfa-11249	250	28	ratio	ratio	NOUN
ajfa-11249	250	29	.212	.212	NUM
ajfa-11249	250	30	-2.748	-2.748	SYM
ajfa-11249	250	31	.006	.006	NUM
ajfa-11249	250	32	.495	.495	NUM
ajfa-11249	250	33	2.022	2.022	NUM
ajfa-11249	250	34	asset	asset	NOUN
ajfa-11249	250	35	turnover	turnover	NOUN
ajfa-11249	250	36	.983	.983	NOUN
ajfa-11249	250	37	6.846	6.846	NUM
ajfa-11249	250	38	.000	.000	NUM
ajfa-11249	250	39	.697	.697	NUM
ajfa-11249	250	40	1.435	1.435	NUM
ajfa-11249	250	41	asset	asset	NOUN
ajfa-11249	250	42	tangibility	tangibility	NOUN
ajfa-11249	250	43	.744	.744	NUM
ajfa-11249	250	44	10.107	10.107	NUM
ajfa-11249	250	45	.000	.000	NUM
ajfa-11249	250	46	.741	.741	NUM
ajfa-11249	250	47	1.350	1.350	NUM
ajfa-11249	250	48	roa	roa	NOUN
ajfa-11249	250	49	-3.451	-3.451	NOUN
ajfa-11249	250	50	-6.073	-6.073	NUM
ajfa-11249	250	51	.000	.000	NUM
ajfa-11249	250	52	.341	.341	NUM
ajfa-11249	250	53	2.931	2.931	NUM
ajfa-11249	250	54	gpm	gpm	NOUN
ajfa-11249	250	55	-.143	-.143	PROPN
ajfa-11249	250	56	-2.442	-2.442	PROPN
ajfa-11249	250	57	.015	.015	NUM
ajfa-11249	250	58	.611	.611	NUM
ajfa-11249	250	59	1.638	1.638	NUM
ajfa-11249	250	60	panel	panel	NOUN
ajfa-11249	250	61	c	c	PROPN
ajfa-11249	250	62	foreign	foreign	ADJ
ajfa-11249	250	63	exchange	exchange	NOUN
ajfa-11249	250	64	exposure	exposure	NOUN
ajfa-11249	250	65	asset	asset	NOUN
ajfa-11249	250	66	tangibility	tangibility	NOUN
ajfa-11249	250	67	-.373	-.373	PROPN
ajfa-11249	250	68	-7.645	-7.645	PROPN
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ajfa-11249	250	70	20.780	20.780	NUM
ajfa-11249	250	71	0.000	0.000	NUM
ajfa-11249	250	72	.157	.157	NUM
ajfa-11249	250	73	.406	.406	NUM
ajfa-11249	250	74	.977	.977	NUM
ajfa-11249	250	75	1.024	1.024	NUM
ajfa-11249	250	76	size	size	NOUN
ajfa-11249	250	77	.061	.061	NUM
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ajfa-11249	250	79	.027	.027	NUM
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ajfa-11249	250	81	1.017	1.017	NUM
ajfa-11249	250	82	hhi	hhi	NOUN
ajfa-11249	250	83	.583	.583	NUM
ajfa-11249	250	84	4.549	4.549	NUM
ajfa-11249	250	85	.000	.000	NUM
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ajfa-11249	250	87	1.030	1.030	NUM
ajfa-11249	250	88	roa	roa	NOUN
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ajfa-11249	250	90	2.626	2.626	NUM
ajfa-11249	250	91	.009	.009	NUM
ajfa-11249	250	92	.985	.985	NUM
ajfa-11249	250	93	1.015	1.015	NUM
ajfa-11249	250	94	source	source	NOUN
ajfa-11249	250	95	:	:	PUNCT
ajfa-11249	250	96	output	output	NOUN
ajfa-11249	250	97	of	of	ADP
ajfa-11249	250	98	spss	spss	PROPN
ajfa-11249	250	99	notes	note	NOUN
ajfa-11249	250	100	:	:	PUNCT
ajfa-11249	250	101	the	the	DET
ajfa-11249	250	102	sample	sample	NOUN
ajfa-11249	250	103	is	be	AUX
ajfa-11249	250	104	the	the	DET
ajfa-11249	250	105	period	period	NOUN
ajfa-11249	250	106	2000	2000	NUM
ajfa-11249	250	107	until	until	ADP
ajfa-11249	250	108	december	december	PROPN
ajfa-11249	250	109	2016	2016	NUM
ajfa-11249	250	110	(	(	PUNCT
ajfa-11249	250	111	64	64	NUM
ajfa-11249	250	112	quarterly	quarterly	ADV
ajfa-11249	250	113	)	)	PUNCT
ajfa-11249	250	114	for	for	ADP
ajfa-11249	250	115	egx30	egx30	NOUN
ajfa-11249	250	116	companies	company	NOUN
ajfa-11249	250	117	.	.	PUNCT
ajfa-11249	251	1	panel	panel	NOUN
ajfa-11249	251	2	a	a	PRON
ajfa-11249	251	3	is	be	AUX
ajfa-11249	251	4	the	the	DET
ajfa-11249	251	5	full	full	ADJ
ajfa-11249	251	6	sample	sample	NOUN
ajfa-11249	251	7	,	,	PUNCT
ajfa-11249	251	8	panel	panel	NOUN
ajfa-11249	251	9	b	b	PROPN
ajfa-11249	251	10	is	be	AUX
ajfa-11249	251	11	the	the	DET
ajfa-11249	251	12	positive	positive	ADJ
ajfa-11249	251	13	exposure	exposure	NOUN
ajfa-11249	251	14	sample	sample	NOUN
ajfa-11249	251	15	and	and	CCONJ
ajfa-11249	251	16	panel	panel	NOUN
ajfa-11249	251	17	c	c	PROPN
ajfa-11249	251	18	is	be	AUX
ajfa-11249	251	19	the	the	DET
ajfa-11249	251	20	negative	negative	ADJ
ajfa-11249	251	21	exposure	exposure	NOUN
ajfa-11249	251	22	sample	sample	NOUN
ajfa-11249	251	23	.	.	PUNCT
ajfa-11249	252	1	asian	asian	ADJ
ajfa-11249	252	2	journal	journal	PROPN
ajfa-11249	252	3	of	of	ADP
ajfa-11249	252	4	finance	finance	PROPN
ajfa-11249	252	5	&	&	CCONJ
ajfa-11249	252	6	accounting	accounting	PROPN
ajfa-11249	252	7	issn	issn	PROPN
ajfa-11249	252	8	1946	1946	NUM
ajfa-11249	252	9	-	-	PUNCT
ajfa-11249	252	10	052x	052x	PROPN
ajfa-11249	252	11	2017	2017	NUM
ajfa-11249	252	12	,	,	PUNCT
ajfa-11249	252	13	vol	vol	NOUN
ajfa-11249	252	14	.	.	NOUN
ajfa-11249	252	15	9	9	NUM
ajfa-11249	252	16	,	,	PUNCT
ajfa-11249	252	17	no	no	INTJ
ajfa-11249	252	18	.	.	NOUN
ajfa-11249	252	19	1	1	NUM
ajfa-11249	252	20	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-11249	252	21	461	461	NUM
ajfa-11249	252	22	source	source	NOUN
ajfa-11249	252	23	:	:	PUNCT
ajfa-11249	252	24	output	output	NOUN
ajfa-11249	252	25	of	of	ADP
ajfa-11249	252	26	spss	spss	ADJ
ajfa-11249	252	27	figure	figure	NOUN
ajfa-11249	252	28	(	(	PUNCT
ajfa-11249	252	29	i	i	NOUN
ajfa-11249	252	30	)	)	PUNCT
ajfa-11249	252	31	.	.	PUNCT
ajfa-11249	253	1	normal	normal	ADJ
ajfa-11249	253	2	q	q	ADJ
ajfa-11249	253	3	-	-	PUNCT
ajfa-11249	253	4	q	q	NOUN
ajfa-11249	253	5	plot	plot	NOUN
ajfa-11249	253	6	of	of	ADP
ajfa-11249	253	7	the	the	DET
ajfa-11249	253	8	foreign	foreign	ADJ
ajfa-11249	253	9	exchange	exchange	NOUN
ajfa-11249	253	10	exposure	exposure	NOUN
ajfa-11249	253	11	using	use	VERB
ajfa-11249	253	12	quarterly	quarterly	ADJ
ajfa-11249	253	13	data	datum	NOUN
ajfa-11249	253	14	source	source	NOUN
ajfa-11249	253	15	:	:	PUNCT
ajfa-11249	253	16	output	output	NOUN
ajfa-11249	253	17	of	of	ADP
ajfa-11249	253	18	spss	spss	ADJ
ajfa-11249	253	19	figure	figure	NOUN
ajfa-11249	253	20	(	(	PUNCT
ajfa-11249	253	21	ii	ii	NOUN
ajfa-11249	253	22	)	)	PUNCT
ajfa-11249	253	23	.	.	PUNCT
ajfa-11249	254	1	horizontal	horizontal	ADJ
ajfa-11249	254	2	for	for	ADP
ajfa-11249	254	3	linear	linear	ADJ
ajfa-11249	254	4	distribution	distribution	NOUN
ajfa-11249	254	5	using	use	VERB
ajfa-11249	254	6	quarterly	quarterly	ADJ
ajfa-11249	254	7	data	datum	NOUN
ajfa-11249	254	8	source	source	NOUN
ajfa-11249	254	9	:	:	PUNCT
ajfa-11249	254	10	output	output	NOUN
ajfa-11249	254	11	of	of	ADP
ajfa-11249	254	12	spss	spss	ADJ
ajfa-11249	254	13	figure	figure	NOUN
ajfa-11249	254	14	(	(	PUNCT
ajfa-11249	254	15	iii	iii	NOUN
ajfa-11249	254	16	)	)	PUNCT
ajfa-11249	254	17	.	.	PUNCT
ajfa-11249	255	1	the	the	DET
ajfa-11249	255	2	financial	financial	ADJ
ajfa-11249	255	3	performance	performance	NOUN
ajfa-11249	255	4	of	of	ADP
ajfa-11249	255	5	egx	egx	PROPN
ajfa-11249	255	6	30	30	NUM
ajfa-11249	255	7	companies	company	NOUN
ajfa-11249	255	8	-20.00000	-20.00000	PUNCT
ajfa-11249	255	9	-10.00000	-10.00000	SYM
ajfa-11249	255	10	0.00000	0.00000	NUM
ajfa-11249	255	11	10.00000	10.00000	NUM
ajfa-11249	255	12	20.00000	20.00000	NUM
ajfa-11249	255	13	30.00000	30.00000	NUM
ajfa-11249	255	14	40.00000	40.00000	NUM
ajfa-11249	255	15	50.00000	50.00000	NUM
ajfa-11249	255	16	60.00000	60.00000	NUM
ajfa-11249	255	17	70.00000	70.00000	NUM
ajfa-11249	255	18	80.00000	80.00000	NUM
ajfa-11249	255	19	20	20	NUM
ajfa-11249	255	20	00	00	NUM
ajfa-11249	255	21	20	20	NUM
ajfa-11249	255	22	01	01	NUM
ajfa-11249	255	23	20	20	NUM
ajfa-11249	255	24	02	02	NUM
ajfa-11249	255	25	20	20	NUM
ajfa-11249	255	26	03	03	NUM
ajfa-11249	255	27	20	20	NUM
ajfa-11249	255	28	04	04	NUM
ajfa-11249	255	29	20	20	NUM
ajfa-11249	255	30	05	05	NUM
ajfa-11249	255	31	20	20	NUM
ajfa-11249	255	32	06	06	NUM
ajfa-11249	255	33	20	20	NUM
ajfa-11249	255	34	07	07	NUM
ajfa-11249	255	35	20	20	NUM
ajfa-11249	255	36	08	08	NUM
ajfa-11249	255	37	20	20	NUM
ajfa-11249	255	38	09	09	NUM
ajfa-11249	255	39	20	20	NUM
ajfa-11249	255	40	10	10	NUM
ajfa-11249	255	41	20	20	NUM
ajfa-11249	255	42	11	11	NUM
ajfa-11249	255	43	20	20	NUM
ajfa-11249	255	44	12	12	NUM
ajfa-11249	255	45	20	20	NUM
ajfa-11249	255	46	13	13	NUM
ajfa-11249	255	47	20	20	NUM
ajfa-11249	255	48	14	14	NUM
ajfa-11249	255	49	20	20	NUM
ajfa-11249	255	50	15	15	NUM
ajfa-11249	255	51	20	20	NUM
ajfa-11249	255	52	16	16	NUM
ajfa-11249	255	53	20	20	NUM
ajfa-11249	255	54	17	17	NUM
ajfa-11249	255	55	fi	fi	NOUN
ajfa-11249	255	56	na	na	PROPN
ajfa-11249	255	57	nc	nc	PROPN
ajfa-11249	255	58	ia	ia	PROPN
ajfa-11249	255	59	l	l	PROPN
ajfa-11249	255	60	p	p	X
ajfa-11249	256	1	er	er	INTJ
ajfa-11249	256	2	fo	fo	INTJ
ajfa-11249	256	3	rm	rm	PROPN
ajfa-11249	256	4	an	an	DET
ajfa-11249	256	5	ce	ce	PROPN
ajfa-11249	256	6	years	year	NOUN
ajfa-11249	256	7	asian	asian	PROPN
ajfa-11249	256	8	journal	journal	PROPN
ajfa-11249	256	9	of	of	ADP
ajfa-11249	256	10	finance	finance	PROPN
ajfa-11249	256	11	&	&	CCONJ
ajfa-11249	256	12	accounting	accounting	PROPN
ajfa-11249	256	13	issn	issn	PROPN
ajfa-11249	256	14	1946	1946	NUM
ajfa-11249	256	15	-	-	PUNCT
ajfa-11249	256	16	052x	052x	PROPN
ajfa-11249	256	17	2017	2017	NUM
ajfa-11249	256	18	,	,	PUNCT
ajfa-11249	256	19	vol	vol	NOUN
ajfa-11249	256	20	.	.	NOUN
ajfa-11249	256	21	9	9	NUM
ajfa-11249	256	22	,	,	PUNCT
ajfa-11249	256	23	no	no	INTJ
ajfa-11249	256	24	.	.	NOUN
ajfa-11249	256	25	1	1	NUM
ajfa-11249	256	26	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-11249	256	27	462	462	NUM
ajfa-11249	256	28	references	reference	NOUN
ajfa-11249	256	29	adler	adler	NOUN
ajfa-11249	256	30	,	,	PUNCT
ajfa-11249	256	31	m.	m.	NOUN
ajfa-11249	256	32	&	&	CCONJ
ajfa-11249	256	33	.	.	PUNCT
ajfa-11249	257	1	(	(	PUNCT
ajfa-11249	257	2	1984	1984	NUM
ajfa-11249	257	3	)	)	PUNCT
ajfa-11249	257	4	.	.	PUNCT
ajfa-11249	258	1	exposure	exposure	NOUN
ajfa-11249	258	2	to	to	ADP
ajfa-11249	258	3	currency	currency	NOUN
ajfa-11249	258	4	risk	risk	NOUN
ajfa-11249	258	5	:	:	PUNCT
ajfa-11249	258	6	definition	definition	NOUN
ajfa-11249	258	7	and	and	CCONJ
ajfa-11249	258	8	measurement.journal	measurement.journal	ADJ
ajfa-11249	258	9	of	of	ADP
ajfa-11249	258	10	financial	financial	ADJ
ajfa-11249	258	11	management	management	NOUN
ajfa-11249	258	12	,	,	PUNCT
ajfa-11249	258	13	12(2	12(2	NUM
ajfa-11249	258	14	)	)	PUNCT
ajfa-11249	258	15	,	,	PUNCT
ajfa-11249	258	16	41-50.https://doi.org/10.2307/3665446	41-50.https://doi.org/10.2307/3665446	NUM
ajfa-11249	258	17	aggarwal	aggarwal	PROPN
ajfa-11249	258	18	r.	r.	PROPN
ajfa-11249	258	19	,	,	PUNCT
ajfa-11249	258	20	h.	h.	PROPN
ajfa-11249	258	21	j.	j.	PROPN
ajfa-11249	258	22	(	(	PUNCT
ajfa-11249	258	23	2010	2010	NUM
ajfa-11249	258	24	)	)	PUNCT
ajfa-11249	258	25	.	.	PUNCT
ajfa-11249	259	1	foreign	foreign	ADJ
ajfa-11249	259	2	exchange	exchange	NOUN
ajfa-11249	259	3	exposure	exposure	NOUN
ajfa-11249	259	4	of	of	ADP
ajfa-11249	259	5	domestic	domestic	ADJ
ajfa-11249	259	6	corporations	corporation	NOUN
ajfa-11249	259	7	.	.	PUNCT
ajfa-11249	260	1	journal	journal	PROPN
ajfa-11249	260	2	of	of	ADP
ajfa-11249	260	3	international	international	ADJ
ajfa-11249	260	4	money	money	NOUN
ajfa-11249	260	5	and	and	CCONJ
ajfa-11249	260	6	finance	finance	NOUN
ajfa-11249	260	7	,	,	PUNCT
ajfa-11249	260	8	29	29	NUM
ajfa-11249	260	9	,	,	PUNCT
ajfa-11249	260	10	1619	1619	NUM
ajfa-11249	260	11	-	-	SYM
ajfa-11249	260	12	1636	1636	NUM
ajfa-11249	260	13	.	.	PUNCT
ajfa-11249	261	1	https://doi.org/10.1016/j.jimonfin.2010.05.003	https://doi.org/10.1016/j.jimonfin.2010.05.003	ADJ
ajfa-11249	261	2	bill	bill	PROPN
ajfa-11249	261	3	b.	b.	PROPN
ajfa-11249	261	4	francis	francis	PROPN
ajfa-11249	261	5	,	,	PUNCT
ajfa-11249	261	6	i.	i.	PROPN
ajfa-11249	261	7	h.	h.	PROPN
ajfa-11249	261	8	(	(	PUNCT
ajfa-11249	261	9	2008	2008	NUM
ajfa-11249	261	10	)	)	PUNCT
ajfa-11249	261	11	.	.	PUNCT
ajfa-11249	262	1	can	can	AUX
ajfa-11249	262	2	hedging	hedge	VERB
ajfa-11249	262	3	tell	tell	VERB
ajfa-11249	262	4	the	the	DET
ajfa-11249	262	5	full	full	ADJ
ajfa-11249	262	6	story	story	NOUN
ajfa-11249	262	7	?	?	PUNCT
ajfa-11249	263	1	reconciling	reconcile	VERB
ajfa-11249	263	2	differences	difference	NOUN
ajfa-11249	263	3	in	in	ADP
ajfa-11249	263	4	united	united	PROPN
ajfa-11249	263	5	states	states	PROPN
ajfa-11249	263	6	aggregate	aggregate	VERB
ajfa-11249	263	7	and	and	CCONJ
ajfa-11249	263	8	industry	industry	NOUN
ajfa-11249	263	9	-	-	PUNCT
ajfa-11249	263	10	level	level	NOUN
ajfa-11249	263	11	exchange	exchange	NOUN
ajfa-11249	263	12	rate	rate	NOUN
ajfa-11249	263	13	risk	risk	NOUN
ajfa-11249	263	14	premium	premium	NOUN
ajfa-11249	263	15	.	.	PUNCT
ajfa-11249	264	1	journal	journal	NOUN
ajfa-11249	264	2	of	of	ADP
ajfa-11249	264	3	financial	financial	ADJ
ajfa-11249	264	4	economics	economic	NOUN
ajfa-11249	264	5	,	,	PUNCT
ajfa-11249	264	6	90	90	NUM
ajfa-11249	264	7	,	,	PUNCT
ajfa-11249	264	8	169-196.https://doi.org/10.1016/j.jfineco.2007.10.007	169-196.https://doi.org/10.1016/j.jfineco.2007.10.007	NUM
ajfa-11249	264	9	bergbrant	bergbrant	NOUN
ajfa-11249	264	10	,	,	PUNCT
ajfa-11249	264	11	m.	m.	NOUN
ajfa-11249	264	12	c.	c.	PROPN
ajfa-11249	264	13	(	(	PUNCT
ajfa-11249	264	14	2014	2014	NUM
ajfa-11249	264	15	)	)	PUNCT
ajfa-11249	264	16	.	.	PUNCT
ajfa-11249	265	1	firm	firm	NOUN
ajfa-11249	265	2	’s	’s	PART
ajfa-11249	265	3	level	level	NOUN
ajfa-11249	265	4	competition	competition	NOUN
ajfa-11249	265	5	and	and	CCONJ
ajfa-11249	265	6	exchange	exchange	NOUN
ajfa-11249	265	7	rate	rate	NOUN
ajfa-11249	265	8	exposure	exposure	NOUN
ajfa-11249	265	9	,	,	PUNCT
ajfa-11249	265	10	evidence	evidence	NOUN
ajfa-11249	265	11	from	from	ADP
ajfa-11249	265	12	a	a	DET
ajfa-11249	265	13	global	global	ADJ
ajfa-11249	265	14	survey	survey	NOUN
ajfa-11249	265	15	of	of	ADP
ajfa-11249	265	16	firms	firm	NOUN
ajfa-11249	265	17	.	.	PUNCT
ajfa-11249	266	1	financial	financial	ADJ
ajfa-11249	266	2	managementjournal	managementjournal	ADJ
ajfa-11249	266	3	,	,	PUNCT
ajfa-11249	266	4	43(4),885	43(4),885	NUM
ajfa-11249	266	5	-	-	SYM
ajfa-11249	266	6	916	916	NUM
ajfa-11249	266	7	.	.	PUNCT
ajfa-11249	266	8	https://doi.org/10.1111/fima.12051	https://doi.org/10.1111/fima.12051	ADJ
ajfa-11249	266	9	d'almeida	d'almeida	PROPN
ajfa-11249	266	10	,	,	PUNCT
ajfa-11249	266	11	f.	f.	PROPN
ajfa-11249	266	12	(	(	PUNCT
ajfa-11249	266	13	dec	dec	PROPN
ajfa-11249	266	14	.	.	PROPN
ajfa-11249	266	15	2016	2016	NUM
ajfa-11249	266	16	)	)	PUNCT
ajfa-11249	266	17	.	.	PUNCT
ajfa-11249	267	1	currency	currency	NOUN
ajfa-11249	267	2	exposure	exposure	NOUN
ajfa-11249	267	3	and	and	CCONJ
ajfa-11249	267	4	corporate	corporate	ADJ
ajfa-11249	267	5	liquidity	liquidity	NOUN
ajfa-11249	267	6	management	management	NOUN
ajfa-11249	267	7	.	.	PUNCT
ajfa-11249	268	1	working	work	VERB
ajfa-11249	268	2	paper	paper	NOUN
ajfa-11249	268	3	,	,	PUNCT
ajfa-11249	268	4	1	1	NUM
ajfa-11249	268	5	-	-	SYM
ajfa-11249	268	6	73	73	NUM
ajfa-11249	268	7	.	.	PUNCT
ajfa-11249	269	1	donghui	donghui	PROPN
ajfa-11249	269	2	li	li	PROPN
ajfa-11249	269	3	,	,	PUNCT
ajfa-11249	269	4	f.	f.	PROPN
ajfa-11249	269	5	m.	m.	PROPN
ajfa-11249	269	6	(	(	PUNCT
ajfa-11249	269	7	2009	2009	NUM
ajfa-11249	269	8	)	)	PUNCT
ajfa-11249	269	9	.	.	PUNCT
ajfa-11249	270	1	foreign	foreign	ADJ
ajfa-11249	270	2	exchange	exchange	NOUN
ajfa-11249	270	3	exposure	exposure	NOUN
ajfa-11249	270	4	:	:	PUNCT
ajfa-11249	270	5	evidence	evidence	NOUN
ajfa-11249	270	6	from	from	ADP
ajfa-11249	270	7	u.s	u.s	PROPN
ajfa-11249	270	8	industries	industry	NOUN
ajfa-11249	270	9	.	.	PUNCT
ajfa-11249	271	1	journal	journal	PROPN
ajfa-11249	271	2	ofinternational	ofinternational	ADJ
ajfa-11249	271	3	financial	financial	ADJ
ajfa-11249	271	4	market	market	NOUN
ajfa-11249	271	5	institution	institution	NOUN
ajfa-11249	271	6	&	&	CCONJ
ajfa-11249	271	7	money	money	NOUN
ajfa-11249	271	8	,	,	PUNCT
ajfa-11249	271	9	306	306	NUM
ajfa-11249	271	10	-	-	SYM
ajfa-11249	271	11	320	320	NUM
ajfa-11249	271	12	.	.	PUNCT
ajfa-11249	272	1	https://doi.org/10.1016/j.intfin.2008.01.003	https://doi.org/10.1016/j.intfin.2008.01.003	PROPN
ajfa-11249	272	2	ines	ine	NOUN
ajfa-11249	272	3	chaieb	chaieb	PROPN
ajfa-11249	272	4	,	,	PUNCT
ajfa-11249	272	5	s.	s.	PROPN
ajfa-11249	272	6	m.	m.	PROPN
ajfa-11249	272	7	(	(	PUNCT
ajfa-11249	272	8	2013	2013	NUM
ajfa-11249	272	9	)	)	PUNCT
ajfa-11249	272	10	.	.	PUNCT
ajfa-11249	273	1	unconditional	unconditional	ADJ
ajfa-11249	273	2	and	and	CCONJ
ajfa-11249	273	3	conditional	conditional	ADJ
ajfa-11249	273	4	exchange	exchange	NOUN
ajfa-11249	273	5	rate	rate	NOUN
ajfa-11249	273	6	exposure	exposure	NOUN
ajfa-11249	273	7	.	.	PUNCT
ajfa-11249	274	1	journal	journal	NOUN
ajfa-11249	274	2	of	of	ADP
ajfa-11249	274	3	international	international	ADJ
ajfa-11249	274	4	money	money	NOUN
ajfa-11249	274	5	and	and	CCONJ
ajfa-11249	274	6	finance	finance	NOUN
ajfa-11249	274	7	,	,	PUNCT
ajfa-11249	274	8	32	32	NUM
ajfa-11249	274	9	,	,	PUNCT
ajfa-11249	274	10	781	781	NUM
ajfa-11249	274	11	-	-	SYM
ajfa-11249	274	12	808	808	NUM
ajfa-11249	274	13	.	.	PUNCT
ajfa-11249	275	1	https://doi.org/10.1016/j.jimonfin.2012.07.001	https://doi.org/10.1016/j.jimonfin.2012.07.001	PROPN
ajfa-11249	275	2	javed	javed	PROPN
ajfa-11249	275	3	bin	bin	PROPN
ajfa-11249	275	4	kamal	kamal	PROPN
ajfa-11249	275	5	,	,	PUNCT
ajfa-11249	275	6	a.	a.	PROPN
ajfa-11249	275	7	h.	h.	PROPN
ajfa-11249	275	8	(	(	PUNCT
ajfa-11249	275	9	2016	2016	NUM
ajfa-11249	275	10	)	)	PUNCT
ajfa-11249	275	11	.	.	PUNCT
ajfa-11249	276	1	dependence	dependence	NOUN
ajfa-11249	276	2	between	between	ADP
ajfa-11249	276	3	stock	stock	NOUN
ajfa-11249	276	4	market	market	NOUN
ajfa-11249	276	5	and	and	CCONJ
ajfa-11249	276	6	foreign	foreign	ADJ
ajfa-11249	276	7	exchange	exchange	NOUN
ajfa-11249	276	8	market	market	NOUN
ajfa-11249	276	9	in	in	ADP
ajfa-11249	276	10	south	south	PROPN
ajfa-11249	276	11	asia	asia	PROPN
ajfa-11249	276	12	:	:	PUNCT
ajfa-11249	276	13	a	a	DET
ajfa-11249	276	14	copula	copula	ADJ
ajfa-11249	276	15	-	-	PUNCT
ajfa-11249	276	16	garch	garch	NOUN
ajfa-11249	276	17	approach	approach	NOUN
ajfa-11249	276	18	.	.	PUNCT
ajfa-11249	277	1	the	the	DET
ajfa-11249	277	2	journal	journal	NOUN
ajfa-11249	277	3	of	of	ADP
ajfa-11249	277	4	developing	develop	VERB
ajfa-11249	277	5	areas	area	NOUN
ajfa-11249	277	6	,	,	PUNCT
ajfa-11249	277	7	50(1	50(1	NUM
ajfa-11249	277	8	)	)	PUNCT
ajfa-11249	277	9	,	,	PUNCT
ajfa-11249	277	10	175-195.https://doi.org/10.1353/jda.2016.0010	175-195.https://doi.org/10.1353/jda.2016.0010	NUM
ajfa-11249	277	11	jorion	jorion	NOUN
ajfa-11249	277	12	,	,	PUNCT
ajfa-11249	277	13	p.	p.	NOUN
ajfa-11249	277	14	(	(	PUNCT
ajfa-11249	277	15	1991	1991	NUM
ajfa-11249	277	16	)	)	PUNCT
ajfa-11249	277	17	.	.	PUNCT
ajfa-11249	278	1	the	the	DET
ajfa-11249	278	2	pricing	pricing	NOUN
ajfa-11249	278	3	of	of	ADP
ajfa-11249	278	4	exchange	exchange	NOUN
ajfa-11249	278	5	rate	rate	NOUN
ajfa-11249	278	6	risk	risk	NOUN
ajfa-11249	278	7	in	in	ADP
ajfa-11249	278	8	the	the	DET
ajfa-11249	278	9	stock	stock	NOUN
ajfa-11249	278	10	market	market	NOUN
ajfa-11249	278	11	.	.	PUNCT
ajfa-11249	279	1	journal	journal	NOUN
ajfa-11249	279	2	of	of	ADP
ajfa-11249	279	3	financial	financial	ADJ
ajfa-11249	279	4	and	and	CCONJ
ajfa-11249	279	5	quantitative	quantitative	ADJ
ajfa-11249	279	6	analysis	analysis	NOUN
ajfa-11249	279	7	,	,	PUNCT
ajfa-11249	279	8	26(3	26(3	NUM
ajfa-11249	279	9	)	)	PUNCT
ajfa-11249	279	10	,	,	PUNCT
ajfa-11249	279	11	363–376.https://doi.org/10.2307/2331212	363–376.https://doi.org/10.2307/2331212	PROPN
ajfa-11249	279	12	kamar	kamar	PROPN
ajfa-11249	279	13	,	,	PUNCT
ajfa-11249	279	14	w.	w.	PROPN
ajfa-11249	279	15	n.	n.	PROPN
ajfa-11249	279	16	(	(	PUNCT
ajfa-11249	279	17	2015	2015	NUM
ajfa-11249	279	18	)	)	PUNCT
ajfa-11249	279	19	.	.	PUNCT
ajfa-11249	280	1	foreign	foreign	ADJ
ajfa-11249	280	2	exchange	exchange	NOUN
ajfa-11249	280	3	exposure	exposure	NOUN
ajfa-11249	280	4	and	and	CCONJ
ajfa-11249	280	5	its	its	PRON
ajfa-11249	280	6	determinants	determinant	NOUN
ajfa-11249	280	7	among	among	ADP
ajfa-11249	280	8	some	some	DET
ajfa-11249	280	9	listed	list	VERB
ajfa-11249	280	10	companies	company	NOUN
ajfa-11249	280	11	from	from	ADP
ajfa-11249	280	12	selected	select	VERB
ajfa-11249	280	13	sectors	sector	NOUN
ajfa-11249	280	14	in	in	ADP
ajfa-11249	280	15	malaysia	malaysia	PROPN
ajfa-11249	280	16	.	.	PUNCT
ajfa-11249	281	1	a	a	DET
ajfa-11249	281	2	research	research	NOUN
ajfa-11249	281	3	paper	paper	NOUN
ajfa-11249	281	4	submitted	submit	VERB
ajfa-11249	281	5	to	to	ADP
ajfa-11249	281	6	othman	othman	PROPN
ajfa-11249	281	7	yeop	yeop	PROPN
ajfa-11249	281	8	abdullah	abdullah	PROPN
ajfa-11249	281	9	graduate	graduate	PROPN
ajfa-11249	281	10	school	school	NOUN
ajfa-11249	281	11	of	of	ADP
ajfa-11249	281	12	business	business	NOUN
ajfa-11249	281	13	to	to	PART
ajfa-11249	281	14	fulfill	fulfill	VERB
ajfa-11249	281	15	the	the	DET
ajfa-11249	281	16	requirement	requirement	NOUN
ajfa-11249	281	17	of	of	ADP
ajfa-11249	281	18	a	a	DET
ajfa-11249	281	19	degree	degree	NOUN
ajfa-11249	281	20	of	of	ADP
ajfa-11249	281	21	master	master	NOUN
ajfa-11249	281	22	in	in	ADP
ajfa-11249	281	23	science	science	NOUN
ajfa-11249	281	24	(	(	PUNCT
ajfa-11249	281	25	finance	finance	NOUN
ajfa-11249	281	26	)	)	PUNCT
ajfa-11249	281	27	,	,	PUNCT
ajfa-11249	281	28	mba	mba	PROPN
ajfa-11249	281	29	.	.	PUNCT
ajfa-11249	281	30	lee	lee	PROPN
ajfa-11249	281	31	,	,	PUNCT
ajfa-11249	281	32	b.	b.	PROPN
ajfa-11249	281	33	(	(	PUNCT
ajfa-11249	281	34	2011	2011	NUM
ajfa-11249	281	35	)	)	PUNCT
ajfa-11249	281	36	.	.	PUNCT
ajfa-11249	282	1	measuring	measure	VERB
ajfa-11249	282	2	foreign	foreign	ADJ
ajfa-11249	282	3	exchange	exchange	NOUN
ajfa-11249	282	4	exposure	exposure	NOUN
ajfa-11249	282	5	in	in	ADP
ajfa-11249	282	6	u.s	u.s	PROPN
ajfa-11249	282	7	multinationals	multinational	NOUN
ajfa-11249	282	8	:	:	PUNCT
ajfa-11249	282	9	measurement	measurement	NOUN
ajfa-11249	282	10	errors	error	NOUN
ajfa-11249	282	11	.	.	PUNCT
ajfa-11249	283	1	international	international	ADJ
ajfa-11249	283	2	journal	journal	PROPN
ajfa-11249	283	3	of	of	ADP
ajfa-11249	283	4	business	business	NOUN
ajfa-11249	283	5	,	,	PUNCT
ajfa-11249	283	6	accounting	accounting	NOUN
ajfa-11249	283	7	,	,	PUNCT
ajfa-11249	283	8	and	and	CCONJ
ajfa-11249	283	9	finance,5(2	finance,5(2	NOUN
ajfa-11249	283	10	)	)	PUNCT
ajfa-11249	283	11	,	,	PUNCT
ajfa-11249	283	12	76	76	NUM
ajfa-11249	283	13	-	-	SYM
ajfa-11249	283	14	86	86	NUM
ajfa-11249	283	15	.	.	PUNCT
ajfa-11249	284	1	mwangi	mwangi	PROPN
ajfa-11249	284	2	,	,	PUNCT
ajfa-11249	284	3	j.	j.	PROPN
ajfa-11249	284	4	w.	w.	PROPN
ajfa-11249	284	5	(	(	PUNCT
ajfa-11249	284	6	2015	2015	NUM
ajfa-11249	284	7	)	)	PUNCT
ajfa-11249	284	8	.	.	PUNCT
ajfa-11249	285	1	the	the	DET
ajfa-11249	285	2	implications	implication	NOUN
ajfa-11249	285	3	of	of	ADP
ajfa-11249	285	4	foreign	foreign	ADJ
ajfa-11249	285	5	exchange	exchange	NOUN
ajfa-11249	285	6	exposure	exposure	NOUN
ajfa-11249	285	7	on	on	ADP
ajfa-11249	285	8	the	the	DET
ajfa-11249	285	9	oil	oil	NOUN
ajfa-11249	285	10	marketing	marketing	NOUN
ajfa-11249	285	11	companies	company	NOUN
ajfa-11249	285	12	in	in	ADP
ajfa-11249	285	13	kenya	kenya	PROPN
ajfa-11249	285	14	.	.	PUNCT
ajfa-11249	286	1	a	a	DET
ajfa-11249	286	2	research	research	NOUN
ajfa-11249	286	3	project	project	NOUN
ajfa-11249	286	4	report	report	NOUN
ajfa-11249	286	5	submitted	submit	VERB
ajfa-11249	286	6	to	to	ADP
ajfa-11249	286	7	the	the	DET
ajfa-11249	286	8	chandaria	chandaria	ADJ
ajfa-11249	286	9	school	school	NOUN
ajfa-11249	286	10	of	of	ADP
ajfa-11249	286	11	business	business	NOUN
ajfa-11249	286	12	in	in	ADP
ajfa-11249	286	13	partial	partial	ADJ
ajfa-11249	286	14	fulfilment	fulfilment	NOUN
ajfa-11249	286	15	for	for	ADP
ajfa-11249	286	16	the	the	DET
ajfa-11249	286	17	degree	degree	NOUN
ajfa-11249	286	18	of	of	ADP
ajfa-11249	286	19	masters	master	NOUN
ajfa-11249	286	20	in	in	ADP
ajfa-11249	286	21	business	business	NOUN
ajfa-11249	286	22	administration	administration	NOUN
ajfa-11249	286	23	(	(	PUNCT
ajfa-11249	286	24	mba).http://hdl.handle.net/11732/680	mba).http://hdl.handle.net/11732/680	PROPN
ajfa-11249	286	25	asian	asian	ADJ
ajfa-11249	286	26	journal	journal	PROPN
ajfa-11249	286	27	of	of	ADP
ajfa-11249	286	28	finance	finance	PROPN
ajfa-11249	286	29	&	&	CCONJ
ajfa-11249	286	30	accounting	accounting	PROPN
ajfa-11249	286	31	issn	issn	PROPN
ajfa-11249	286	32	1946	1946	NUM
ajfa-11249	286	33	-	-	PUNCT
ajfa-11249	286	34	052x	052x	PROPN
ajfa-11249	286	35	2017	2017	NUM
ajfa-11249	286	36	,	,	PUNCT
ajfa-11249	286	37	vol	vol	NOUN
ajfa-11249	286	38	.	.	NOUN
ajfa-11249	286	39	9	9	NUM
ajfa-11249	286	40	,	,	PUNCT
ajfa-11249	286	41	no	no	INTJ
ajfa-11249	286	42	.	.	NOUN
ajfa-11249	286	43	1	1	NUM
ajfa-11249	286	44	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-11249	286	45	463	463	NUM
ajfa-11249	286	46	ngarifrancis	ngarifrancis	NOUN
ajfa-11249	286	47	gachua	gachua	NOUN
ajfa-11249	286	48	,	,	PUNCT
ajfa-11249	286	49	n.	n.	NOUN
ajfa-11249	286	50	(	(	PUNCT
ajfa-11249	286	51	2011	2011	NUM
ajfa-11249	286	52	)	)	PUNCT
ajfa-11249	286	53	.	.	PUNCT
ajfa-11249	287	1	the	the	DET
ajfa-11249	287	2	effect	effect	NOUN
ajfa-11249	287	3	of	of	ADP
ajfa-11249	287	4	foreign	foreign	ADJ
ajfa-11249	287	5	exchange	exchange	NOUN
ajfa-11249	287	6	exposure	exposure	NOUN
ajfa-11249	287	7	on	on	ADP
ajfa-11249	287	8	a	a	DET
ajfa-11249	287	9	firm	firm	NOUN
ajfa-11249	287	10	’s	’s	PART
ajfa-11249	287	11	financial	financial	ADJ
ajfa-11249	287	12	performance	performance	NOUN
ajfa-11249	287	13	:	:	PUNCT
ajfa-11249	287	14	a	a	DET
ajfa-11249	287	15	case	case	NOUN
ajfa-11249	287	16	of	of	ADP
ajfa-11249	287	17	listed	list	VERB
ajfa-11249	287	18	companies	company	NOUN
ajfa-11249	287	19	in	in	ADP
ajfa-11249	287	20	kenya	kenya	PROPN
ajfa-11249	287	21	.	.	PUNCT
ajfa-11249	288	1	a	a	DET
ajfa-11249	288	2	thesis	thesis	NOUN
ajfa-11249	288	3	submitted	submit	VERB
ajfa-11249	288	4	in	in	ADP
ajfa-11249	288	5	partial	partial	ADJ
ajfa-11249	288	6	fulfillment	fulfillment	NOUN
ajfa-11249	288	7	of	of	ADP
ajfa-11249	288	8	the	the	DET
ajfa-11249	288	9	degree	degree	NOUN
ajfa-11249	288	10	of	of	ADP
ajfa-11249	288	11	master	master	NOUN
ajfa-11249	288	12	of	of	ADP
ajfa-11249	288	13	business	business	PROPN
ajfa-11249	288	14	administration	administration	NOUN
ajfa-11249	288	15	of	of	ADP
ajfa-11249	288	16	the	the	DET
ajfa-11249	288	17	school	school	NOUN
ajfa-11249	288	18	of	of	ADP
ajfa-11249	288	19	business	business	PROPN
ajfa-11249	288	20	kca	kca	PROPN
ajfa-11249	288	21	university	university	PROPN
ajfa-11249	288	22	(	(	PUNCT
ajfa-11249	288	23	mba	mba	NOUN
ajfa-11249	288	24	)	)	PUNCT
ajfa-11249	288	25	.	.	PUNCT
ajfa-11249	289	1	peter	peter	PROPN
ajfa-11249	289	2	blum	blum	PROPN
ajfa-11249	289	3	,	,	PUNCT
ajfa-11249	289	4	m.	m.	PROPN
ajfa-11249	289	5	d.	d.	PROPN
ajfa-11249	289	6	(	(	PUNCT
ajfa-11249	289	7	2001	2001	NUM
ajfa-11249	289	8	)	)	PUNCT
ajfa-11249	289	9	.	.	PUNCT
ajfa-11249	290	1	using	use	VERB
ajfa-11249	290	2	dfa	dfa	NOUN
ajfa-11249	290	3	for	for	ADP
ajfa-11249	290	4	modelling	model	VERB
ajfa-11249	290	5	the	the	DET
ajfa-11249	290	6	impact	impact	NOUN
ajfa-11249	290	7	of	of	ADP
ajfa-11249	290	8	foreign	foreign	ADJ
ajfa-11249	290	9	exchange	exchange	NOUN
ajfa-11249	290	10	risks	risk	NOUN
ajfa-11249	290	11	on	on	ADP
ajfa-11249	290	12	reinsurance	reinsurance	NOUN
ajfa-11249	290	13	decisions.casualtyactuarial	decisions.casualtyactuarial	ADJ
ajfa-11249	290	14	society	society	NOUN
ajfa-11249	290	15	reinsurance	reinsurance	NOUN
ajfa-11249	290	16	.	.	PUNCT
ajfa-11249	291	1	pedley	pedley	ADJ
ajfa-11249	291	2	-	-	PUNCT
ajfa-11249	291	3	smith	smith	PROPN
ajfa-11249	291	4	,	,	PUNCT
ajfa-11249	291	5	s.	s.	PROPN
ajfa-11249	291	6	(	(	PUNCT
ajfa-11249	291	7	1996	1996	NUM
ajfa-11249	291	8	)	)	PUNCT
ajfa-11249	291	9	.	.	PUNCT
ajfa-11249	292	1	the	the	DET
ajfa-11249	292	2	foreign	foreign	ADJ
ajfa-11249	292	3	exchange	exchange	NOUN
ajfa-11249	292	4	problem	problem	NOUN
ajfa-11249	292	5	.	.	PUNCT
ajfa-11249	293	1	accountancy	accountancy	NOUN
ajfa-11249	293	2	journal	journal	PROPN
ajfa-11249	293	3	,	,	PUNCT
ajfa-11249	293	4	118(1237	118(1237	NUM
ajfa-11249	293	5	)	)	PUNCT
ajfa-11249	293	6	,	,	PUNCT
ajfa-11249	293	7	73	73	NUM
ajfa-11249	293	8	-	-	SYM
ajfa-11249	293	9	74	74	NUM
ajfa-11249	293	10	.	.	PUNCT
ajfa-11249	294	1	stephen	stephen	PROPN
ajfa-11249	294	2	p.huffman	p.huffman	PROPN
ajfa-11249	294	3	,	,	PUNCT
ajfa-11249	294	4	s.	s.	PROPN
ajfa-11249	294	5	d.	d.	PROPN
ajfa-11249	294	6	(	(	PUNCT
ajfa-11249	294	7	2010	2010	NUM
ajfa-11249	294	8	)	)	PUNCT
ajfa-11249	294	9	.	.	PUNCT
ajfa-11249	295	1	a	a	DET
ajfa-11249	295	2	three	three	NUM
ajfa-11249	295	3	-	-	PUNCT
ajfa-11249	295	4	factor	factor	NOUN
ajfa-11249	295	5	model	model	NOUN
ajfa-11249	295	6	investigation	investigation	NOUN
ajfa-11249	295	7	of	of	ADP
ajfa-11249	295	8	foreign	foreign	ADJ
ajfa-11249	295	9	exchange	exchange	NOUN
ajfa-11249	295	10	rate	rate	NOUN
ajfa-11249	295	11	exposure	exposure	NOUN
ajfa-11249	295	12	.	.	PUNCT
ajfa-11249	296	1	global	global	ADJ
ajfa-11249	296	2	journal	journal	PROPN
ajfa-11249	296	3	finance	finance	PROPN
ajfa-11249	296	4	,	,	PUNCT
ajfa-11249	296	5	21	21	NUM
ajfa-11249	296	6	,	,	PUNCT
ajfa-11249	296	7	1-12.https://doi.org/10.1016/j.gfj.2010.03.004	1-12.https://doi.org/10.1016/j.gfj.2010.03.004	PROPN
ajfa-11249	296	8	sam	sam	PROPN
ajfa-11249	296	9	agyei	agyei	PROPN
ajfa-11249	296	10	-	-	PUNCT
ajfa-11249	296	11	ampomah	ampomah	PROPN
ajfa-11249	296	12	,	,	PUNCT
ajfa-11249	296	13	k.	k.	PROPN
ajfa-11249	296	14	m.	m.	PROPN
ajfa-11249	296	15	(	(	PUNCT
ajfa-11249	296	16	2012	2012	NUM
ajfa-11249	296	17	)	)	PUNCT
ajfa-11249	296	18	.	.	PUNCT
ajfa-11249	297	1	the	the	DET
ajfa-11249	297	2	foreign	foreign	ADJ
ajfa-11249	297	3	exchange	exchange	NOUN
ajfa-11249	297	4	exposure	exposure	NOUN
ajfa-11249	297	5	of	of	ADP
ajfa-11249	297	6	uk	uk	PROPN
ajfa-11249	297	7	non	non	ADJ
ajfa-11249	297	8	-	-	ADJ
ajfa-11249	297	9	financial	financial	ADJ
ajfa-11249	297	10	firms	firm	NOUN
ajfa-11249	297	11	:	:	PUNCT
ajfa-11249	297	12	a	a	DET
ajfa-11249	297	13	comparison	comparison	NOUN
ajfa-11249	297	14	of	of	ADP
ajfa-11249	297	15	market	market	NOUN
ajfa-11249	297	16	-	-	PUNCT
ajfa-11249	297	17	based	base	VERB
ajfa-11249	297	18	methodologies	methodology	NOUN
ajfa-11249	297	19	.	.	PUNCT
ajfa-11249	298	1	international	international	ADJ
ajfa-11249	298	2	review	review	NOUN
ajfa-11249	298	3	of	of	ADP
ajfa-11249	298	4	financial	financial	ADJ
ajfa-11249	298	5	analysis	analysis	NOUN
ajfa-11249	298	6	,	,	PUNCT
ajfa-11249	298	7	29	29	NUM
ajfa-11249	298	8	,	,	PUNCT
ajfa-11249	298	9	251	251	NUM
ajfa-11249	298	10	-	-	SYM
ajfa-11249	298	11	260	260	NUM
ajfa-11249	298	12	.	.	PUNCT
ajfa-11249	299	1	https://doi.org/10.1016/j.irfa.2012.05.006	https://doi.org/10.1016/j.irfa.2012.05.006	NOUN
ajfa-11249	299	2	starks	stark	NOUN
ajfa-11249	299	3	,	,	PUNCT
ajfa-11249	299	4	k.	k.	PROPN
ajfa-11249	299	5	d.	d.	PROPN
ajfa-11249	299	6	(	(	PUNCT
ajfa-11249	299	7	2013	2013	NUM
ajfa-11249	299	8	)	)	PUNCT
ajfa-11249	299	9	.	.	PUNCT
ajfa-11249	300	1	foreign	foreign	ADJ
ajfa-11249	300	2	exchange	exchange	PROPN
ajfa-11249	300	3	elasticity	elasticity	NOUN
ajfa-11249	300	4	and	and	CCONJ
ajfa-11249	300	5	financial	financial	ADJ
ajfa-11249	300	6	distress	distress	NOUN
ajfa-11249	300	7	.	.	PUNCT
ajfa-11249	301	1	financial	financial	ADJ
ajfa-11249	301	2	managementjournal,709	managementjournal,709	PROPN
ajfa-11249	301	3	-	-	PUNCT
ajfa-11249	301	4	735	735	NUM
ajfa-11249	301	5	.	.	PUNCT
ajfa-11249	302	1	https://doi.org/10.1111/fima.12016	https://doi.org/10.1111/fima.12016	PROPN
ajfa-11249	302	2	abbreviations	abbreviation	NOUN
ajfa-11249	302	3	1gpm	1gpm	NUM
ajfa-11249	302	4	:	:	PUNCT
ajfa-11249	302	5	gross	gross	ADJ
ajfa-11249	302	6	profit	profit	NOUN
ajfa-11249	302	7	margin	margin	NOUN
ajfa-11249	302	8	2ff	2ff	ADJ
ajfa-11249	302	9	:	:	PUNCT
ajfa-11249	302	10	fama	fama	NOUN
ajfa-11249	302	11	-	-	PUNCT
ajfa-11249	302	12	french	french	NOUN
ajfa-11249	302	13	3hhi	3hhi	NOUN
ajfa-11249	302	14	:	:	PUNCT
ajfa-11249	303	1	average	average	ADJ
ajfa-11249	303	2	industry	industry	NOUN
ajfa-11249	303	3	herfindahl	herfindahl	VERB
ajfa-11249	303	4	index	index	NOUN
ajfa-11249	303	5	4fxe	4fxe	NOUN
ajfa-11249	303	6	:	:	PUNCT
ajfa-11249	303	7	foreign	foreign	ADJ
ajfa-11249	303	8	exchange	exchange	NOUN
ajfa-11249	303	9	exposure	exposure	NOUN
ajfa-11249	303	10	5fx	5fx	NOUN
ajfa-11249	303	11	:	:	PUNCT
ajfa-11249	303	12	foreign	foreign	ADJ
ajfa-11249	303	13	exchange	exchange	NOUN
ajfa-11249	303	14	6mtbk	6mtbk	NUM
ajfa-11249	303	15	:	:	PUNCT
ajfa-11249	303	16	market	market	NOUN
ajfa-11249	303	17	to	to	ADP
ajfa-11249	303	18	book	book	NOUN
ajfa-11249	303	19	value	value	NOUN
ajfa-11249	303	20	7roa	7roa	NOUN
ajfa-11249	303	21	:	:	PUNCT
ajfa-11249	303	22	return	return	NOUN
ajfa-11249	303	23	on	on	ADP
ajfa-11249	303	24	asset	asset	NOUN