id	sid	tid	token	lemma	pos
ajfa-12904	1	1	microsoft	microsoft	PROPN
ajfa-12904	1	2	word	word	NOUN
ajfa-12904	1	3	12904	12904	NUM
ajfa-12904	1	4	-	-	SYM
ajfa-12904	1	5	47161	47161	NUM
ajfa-12904	1	6	-	-	PUNCT
ajfa-12904	1	7	3	3	NUM
ajfa-12904	1	8	-	-	PUNCT
ajfa-12904	1	9	sm	sm	NOUN
ajfa-12904	1	10	-	-	PUNCT
ajfa-12904	1	11	writer2	writer2	VERB
ajfa-12904	1	12	-	-	ADJ
ajfa-12904	1	13	new	new	ADJ
ajfa-12904	1	14	asian	asian	ADJ
ajfa-12904	1	15	journal	journal	NOUN
ajfa-12904	1	16	of	of	ADP
ajfa-12904	1	17	finance	finance	PROPN
ajfa-12904	1	18	&	&	CCONJ
ajfa-12904	1	19	accounting	accounting	PROPN
ajfa-12904	1	20	issn	issn	PROPN
ajfa-12904	1	21	1946	1946	NUM
ajfa-12904	1	22	-	-	PUNCT
ajfa-12904	1	23	052x	052x	NOUN
ajfa-12904	1	24	2018	2018	NUM
ajfa-12904	1	25	,	,	PUNCT
ajfa-12904	1	26	vol	vol	NOUN
ajfa-12904	1	27	.	.	PROPN
ajfa-12904	1	28	10	10	NUM
ajfa-12904	1	29	,	,	PUNCT
ajfa-12904	1	30	no	no	INTJ
ajfa-12904	1	31	.	.	NOUN
ajfa-12904	1	32	1	1	NUM
ajfa-12904	1	33	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-12904	1	34	162	162	NUM
ajfa-12904	1	35	earnings	earning	NOUN
ajfa-12904	1	36	smoothing	smoothing	NOUN
ajfa-12904	1	37	and	and	CCONJ
ajfa-12904	1	38	bankruptcy	bankruptcy	NOUN
ajfa-12904	1	39	risk	risk	NOUN
ajfa-12904	1	40	in	in	ADP
ajfa-12904	1	41	liquidating	liquidate	VERB
ajfa-12904	1	42	private	private	ADJ
ajfa-12904	1	43	firms	firm	NOUN
ajfa-12904	1	44	nor	nor	CCONJ
ajfa-12904	1	45	afifah	afifah	NOUN
ajfa-12904	1	46	shabani	shabani	NOUN
ajfa-12904	1	47	(	(	PUNCT
ajfa-12904	1	48	corresponding	corresponding	ADJ
ajfa-12904	1	49	author	author	NOUN
ajfa-12904	1	50	)	)	PUNCT
ajfa-12904	1	51	department	department	NOUN
ajfa-12904	1	52	of	of	ADP
ajfa-12904	1	53	accounting	accounting	NOUN
ajfa-12904	1	54	and	and	CCONJ
ajfa-12904	1	55	finance	finance	NOUN
ajfa-12904	1	56	faculty	faculty	NOUN
ajfa-12904	1	57	of	of	ADP
ajfa-12904	1	58	management	management	NOUN
ajfa-12904	1	59	,	,	PUNCT
ajfa-12904	1	60	universiti	universiti	PROPN
ajfa-12904	1	61	teknologi	teknologi	PROPN
ajfa-12904	1	62	malaysia	malaysia	PROPN
ajfa-12904	1	63	,	,	PUNCT
ajfa-12904	1	64	81110	81110	NUM
ajfa-12904	1	65	johor	johor	PROPN
ajfa-12904	1	66	,	,	PUNCT
ajfa-12904	1	67	malaysia	malaysia	PROPN
ajfa-12904	1	68	e	e	NOUN
ajfa-12904	1	69	-	-	NOUN
ajfa-12904	1	70	mail	mail	NOUN
ajfa-12904	1	71	:	:	PUNCT
ajfa-12904	1	72	norafifah85@gmail.com	norafifah85@gmail.com	X
ajfa-12904	1	73	saudah	saudah	NOUN
ajfa-12904	1	74	sofian	sofian	PROPN
ajfa-12904	1	75	department	department	PROPN
ajfa-12904	1	76	of	of	ADP
ajfa-12904	1	77	accounting	accounting	NOUN
ajfa-12904	1	78	and	and	CCONJ
ajfa-12904	1	79	finance	finance	NOUN
ajfa-12904	1	80	faculty	faculty	NOUN
ajfa-12904	1	81	of	of	ADP
ajfa-12904	1	82	management	management	NOUN
ajfa-12904	1	83	,	,	PUNCT
ajfa-12904	1	84	universiti	universiti	PROPN
ajfa-12904	1	85	teknologi	teknologi	PROPN
ajfa-12904	1	86	malaysia	malaysia	PROPN
ajfa-12904	1	87	,	,	PUNCT
ajfa-12904	1	88	81110	81110	NUM
ajfa-12904	1	89	johor	johor	PROPN
ajfa-12904	1	90	,	,	PUNCT
ajfa-12904	1	91	malaysia	malaysia	PROPN
ajfa-12904	1	92	e	e	NOUN
ajfa-12904	1	93	-	-	NOUN
ajfa-12904	1	94	mail	mail	NOUN
ajfa-12904	1	95	:	:	PUNCT
ajfa-12904	1	96	saudah@utm.my	saudah@utm.my	PROPN
ajfa-12904	1	97	received	receive	VERB
ajfa-12904	1	98	:	:	PUNCT
ajfa-12904	1	99	march	march	PROPN
ajfa-12904	1	100	18	18	NUM
ajfa-12904	1	101	,	,	PUNCT
ajfa-12904	1	102	2018	2018	NUM
ajfa-12904	1	103	accepted	accept	VERB
ajfa-12904	1	104	:	:	PUNCT
ajfa-12904	1	105	april	april	PROPN
ajfa-12904	1	106	10	10	NUM
ajfa-12904	1	107	,	,	PUNCT
ajfa-12904	1	108	2018	2018	NUM
ajfa-12904	1	109	published	publish	VERB
ajfa-12904	1	110	:	:	PUNCT
ajfa-12904	1	111	june	june	PROPN
ajfa-12904	1	112	1	1	NUM
ajfa-12904	1	113	,	,	PUNCT
ajfa-12904	1	114	2018	2018	NUM
ajfa-12904	1	115	doi:10.5296	doi:10.5296	NOUN
ajfa-12904	1	116	/	/	SYM
ajfa-12904	1	117	ajfa.v10i1.12904	ajfa.v10i1.12904	PROPN
ajfa-12904	1	118	url	url	PROPN
ajfa-12904	1	119	:	:	PUNCT
ajfa-12904	1	120	https://doi.org/10.5296/ajfa.v10i1.12904	https://doi.org/10.5296/ajfa.v10i1.12904	ADJ
ajfa-12904	1	121	abstract	abstract	ADJ
ajfa-12904	1	122	keywords	keyword	NOUN
ajfa-12904	1	123	:	:	PUNCT
ajfa-12904	1	124	earnings	earning	NOUN
ajfa-12904	1	125	smooth	smooth	ADJ
ajfa-12904	1	126	earnings	earning	NOUN
ajfa-12904	1	127	are	be	AUX
ajfa-12904	1	128	preferred	prefer	VERB
ajfa-12904	1	129	by	by	ADP
ajfa-12904	1	130	managers	manager	NOUN
ajfa-12904	1	131	and	and	CCONJ
ajfa-12904	1	132	creditors	creditor	NOUN
ajfa-12904	1	133	because	because	SCONJ
ajfa-12904	1	134	they	they	PRON
ajfa-12904	1	135	represent	represent	VERB
ajfa-12904	1	136	a	a	DET
ajfa-12904	1	137	stable	stable	ADJ
ajfa-12904	1	138	business	business	NOUN
ajfa-12904	1	139	operations	operation	NOUN
ajfa-12904	1	140	as	as	ADV
ajfa-12904	1	141	well	well	ADV
ajfa-12904	1	142	as	as	ADP
ajfa-12904	1	143	low	low	ADJ
ajfa-12904	1	144	loan	loan	NOUN
ajfa-12904	1	145	default	default	NOUN
ajfa-12904	1	146	risks	risk	NOUN
ajfa-12904	1	147	and	and	CCONJ
ajfa-12904	1	148	thus	thus	ADV
ajfa-12904	1	149	creditors	creditor	NOUN
ajfa-12904	1	150	reward	reward	VERB
ajfa-12904	1	151	firms	firm	NOUN
ajfa-12904	1	152	which	which	PRON
ajfa-12904	1	153	have	have	VERB
ajfa-12904	1	154	smooth	smooth	ADJ
ajfa-12904	1	155	earnings	earning	NOUN
ajfa-12904	1	156	with	with	ADP
ajfa-12904	1	157	better	well	ADJ
ajfa-12904	1	158	loan	loan	NOUN
ajfa-12904	1	159	covenant	covenant	ADJ
ajfa-12904	1	160	terms	term	NOUN
ajfa-12904	1	161	and	and	CCONJ
ajfa-12904	1	162	lower	low	ADJ
ajfa-12904	1	163	interest	interest	NOUN
ajfa-12904	1	164	rates	rate	NOUN
ajfa-12904	1	165	.	.	PUNCT
ajfa-12904	2	1	nonetheless	nonetheless	ADV
ajfa-12904	2	2	,	,	PUNCT
ajfa-12904	2	3	recent	recent	ADJ
ajfa-12904	2	4	literature	literature	NOUN
ajfa-12904	2	5	shows	show	VERB
ajfa-12904	2	6	that	that	SCONJ
ajfa-12904	2	7	earnings	earning	NOUN
ajfa-12904	2	8	smoothing	smoothing	NOUN
ajfa-12904	2	9	in	in	ADP
ajfa-12904	2	10	public	public	ADJ
ajfa-12904	2	11	firms	firm	NOUN
ajfa-12904	2	12	is	be	AUX
ajfa-12904	2	13	associated	associate	VERB
ajfa-12904	2	14	with	with	ADP
ajfa-12904	2	15	stock	stock	NOUN
ajfa-12904	2	16	price	price	NOUN
ajfa-12904	2	17	crash	crash	NOUN
ajfa-12904	2	18	risk	risk	NOUN
ajfa-12904	2	19	.	.	PUNCT
ajfa-12904	3	1	using	use	VERB
ajfa-12904	3	2	altman	altman	PROPN
ajfa-12904	3	3	z	z	PROPN
ajfa-12904	3	4	”	"	PUNCT
ajfa-12904	3	5	score	score	NOUN
ajfa-12904	3	6	to	to	PART
ajfa-12904	3	7	measure	measure	VERB
ajfa-12904	3	8	firm	firm	NOUN
ajfa-12904	3	9	’s	’s	PART
ajfa-12904	3	10	specific	specific	ADJ
ajfa-12904	3	11	bankruptcy	bankruptcy	NOUN
ajfa-12904	3	12	risk	risk	NOUN
ajfa-12904	3	13	,	,	PUNCT
ajfa-12904	3	14	this	this	DET
ajfa-12904	3	15	study	study	NOUN
ajfa-12904	3	16	examines	examine	VERB
ajfa-12904	3	17	the	the	DET
ajfa-12904	3	18	association	association	NOUN
ajfa-12904	3	19	between	between	ADP
ajfa-12904	3	20	accrual	accrual	ADJ
ajfa-12904	3	21	earnings	earning	NOUN
ajfa-12904	3	22	smoothing	smoothing	NOUN
ajfa-12904	3	23	and	and	CCONJ
ajfa-12904	3	24	bankruptcy	bankruptcy	NOUN
ajfa-12904	3	25	risk	risk	NOUN
ajfa-12904	3	26	in	in	ADP
ajfa-12904	3	27	liquidating	liquidate	VERB
ajfa-12904	3	28	private	private	ADJ
ajfa-12904	3	29	firms	firm	NOUN
ajfa-12904	3	30	in	in	ADP
ajfa-12904	3	31	uk	uk	PROPN
ajfa-12904	3	32	and	and	CCONJ
ajfa-12904	3	33	finds	find	VERB
ajfa-12904	3	34	that	that	SCONJ
ajfa-12904	3	35	earnings	earning	NOUN
ajfa-12904	3	36	smoothing	smoothing	NOUN
ajfa-12904	3	37	significantly	significantly	ADV
ajfa-12904	3	38	negatively	negatively	ADV
ajfa-12904	3	39	affects	affect	VERB
ajfa-12904	3	40	those	those	DET
ajfa-12904	3	41	firms	firm	NOUN
ajfa-12904	3	42	'	'	PART
ajfa-12904	3	43	bankruptcy	bankruptcy	NOUN
ajfa-12904	3	44	risk	risk	NOUN
ajfa-12904	3	45	.	.	PUNCT
ajfa-12904	4	1	the	the	DET
ajfa-12904	4	2	finding	finding	NOUN
ajfa-12904	4	3	implies	imply	VERB
ajfa-12904	4	4	that	that	SCONJ
ajfa-12904	4	5	financially	financially	ADV
ajfa-12904	4	6	distressed	distressed	ADJ
ajfa-12904	4	7	firms	firm	NOUN
ajfa-12904	4	8	engage	engage	VERB
ajfa-12904	4	9	with	with	ADP
ajfa-12904	4	10	less	less	ADJ
ajfa-12904	4	11	earnings	earning	NOUN
ajfa-12904	4	12	smoothing	smoothing	NOUN
ajfa-12904	4	13	,	,	PUNCT
ajfa-12904	4	14	possibly	possibly	ADV
ajfa-12904	4	15	because	because	SCONJ
ajfa-12904	4	16	they	they	PRON
ajfa-12904	4	17	do	do	AUX
ajfa-12904	4	18	not	not	PART
ajfa-12904	4	19	have	have	VERB
ajfa-12904	4	20	the	the	DET
ajfa-12904	4	21	opportunity	opportunity	NOUN
ajfa-12904	4	22	to	to	PART
ajfa-12904	4	23	engage	engage	VERB
ajfa-12904	4	24	in	in	ADP
ajfa-12904	4	25	accrual	accrual	ADJ
ajfa-12904	4	26	earnings	earning	NOUN
ajfa-12904	4	27	smoothing	smoothing	NOUN
ajfa-12904	4	28	anymore	anymore	ADV
ajfa-12904	4	29	.	.	PUNCT
ajfa-12904	5	1	nonetheless	nonetheless	ADV
ajfa-12904	5	2	,	,	PUNCT
ajfa-12904	5	3	further	further	ADJ
ajfa-12904	5	4	examination	examination	NOUN
ajfa-12904	5	5	shows	show	VERB
ajfa-12904	5	6	that	that	SCONJ
ajfa-12904	5	7	these	these	DET
ajfa-12904	5	8	firms	firm	NOUN
ajfa-12904	5	9	engage	engage	VERB
ajfa-12904	5	10	less	less	ADV
ajfa-12904	5	11	with	with	ADP
ajfa-12904	5	12	earnings	earning	NOUN
ajfa-12904	5	13	smoothing	smoothing	NOUN
ajfa-12904	5	14	because	because	SCONJ
ajfa-12904	5	15	they	they	PRON
ajfa-12904	5	16	are	be	AUX
ajfa-12904	5	17	being	be	AUX
ajfa-12904	5	18	monitored	monitor	VERB
ajfa-12904	5	19	by	by	ADP
ajfa-12904	5	20	external	external	ADJ
ajfa-12904	5	21	creditors	creditor	NOUN
ajfa-12904	5	22	,	,	PUNCT
ajfa-12904	5	23	indicated	indicate	VERB
ajfa-12904	5	24	by	by	ADP
ajfa-12904	5	25	significantly	significantly	ADV
ajfa-12904	5	26	high	high	ADJ
ajfa-12904	5	27	leverage	leverage	NOUN
ajfa-12904	5	28	during	during	ADP
ajfa-12904	5	29	the	the	DET
ajfa-12904	5	30	last	last	ADJ
ajfa-12904	5	31	period	period	NOUN
ajfa-12904	5	32	before	before	SCONJ
ajfa-12904	5	33	they	they	PRON
ajfa-12904	5	34	are	be	AUX
ajfa-12904	5	35	being	be	AUX
ajfa-12904	5	36	liquidated	liquidate	VERB
ajfa-12904	5	37	.	.	PUNCT
ajfa-12904	6	1	keywords	keyword	NOUN
ajfa-12904	6	2	:	:	PUNCT
ajfa-12904	6	3	smoothing	smooth	VERB
ajfa-12904	6	4	,	,	PUNCT
ajfa-12904	6	5	private	private	ADJ
ajfa-12904	6	6	firms	firm	NOUN
ajfa-12904	6	7	,	,	PUNCT
ajfa-12904	6	8	bankruptcy	bankruptcy	NOUN
ajfa-12904	6	9	risk	risk	NOUN
ajfa-12904	6	10	,	,	PUNCT
ajfa-12904	6	11	liquidation	liquidation	NOUN
ajfa-12904	6	12	,	,	PUNCT
ajfa-12904	6	13	distressed	distressed	ADJ
ajfa-12904	6	14	firms	firm	NOUN
ajfa-12904	6	15	,	,	PUNCT
ajfa-12904	6	16	creditors	creditor	NOUN
ajfa-12904	6	17	asian	asian	ADJ
ajfa-12904	6	18	journal	journal	NOUN
ajfa-12904	6	19	of	of	ADP
ajfa-12904	6	20	finance	finance	PROPN
ajfa-12904	6	21	&	&	CCONJ
ajfa-12904	6	22	accounting	accounting	PROPN
ajfa-12904	6	23	issn	issn	PROPN
ajfa-12904	6	24	1946	1946	NUM
ajfa-12904	6	25	-	-	PUNCT
ajfa-12904	6	26	052x	052x	NOUN
ajfa-12904	6	27	2018	2018	NUM
ajfa-12904	6	28	,	,	PUNCT
ajfa-12904	6	29	vol	vol	NOUN
ajfa-12904	6	30	.	.	PROPN
ajfa-12904	6	31	10	10	NUM
ajfa-12904	6	32	,	,	PUNCT
ajfa-12904	6	33	no	no	INTJ
ajfa-12904	6	34	.	.	NOUN
ajfa-12904	6	35	1	1	NUM
ajfa-12904	6	36	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-12904	6	37	163	163	NUM
ajfa-12904	6	38	1	1	NUM
ajfa-12904	6	39	.	.	PUNCT
ajfa-12904	7	1	introduction	introduction	NOUN
ajfa-12904	7	2	earnings	earning	NOUN
ajfa-12904	7	3	smoothing	smoothing	NOUN
ajfa-12904	7	4	is	be	AUX
ajfa-12904	7	5	the	the	DET
ajfa-12904	7	6	result	result	NOUN
ajfa-12904	7	7	of	of	ADP
ajfa-12904	7	8	management	management	NOUN
ajfa-12904	7	9	’s	’s	PART
ajfa-12904	7	10	attempts	attempt	NOUN
ajfa-12904	7	11	to	to	PART
ajfa-12904	7	12	make	make	VERB
ajfa-12904	7	13	earnings	earning	NOUN
ajfa-12904	7	14	look	look	VERB
ajfa-12904	7	15	less	less	ADV
ajfa-12904	7	16	variable	variable	ADJ
ajfa-12904	7	17	over	over	ADP
ajfa-12904	7	18	time	time	NOUN
ajfa-12904	7	19	(	(	PUNCT
ajfa-12904	7	20	goel	goel	PROPN
ajfa-12904	7	21	&	&	CCONJ
ajfa-12904	7	22	thakor	thakor	PROPN
ajfa-12904	7	23	,	,	PUNCT
ajfa-12904	7	24	2003	2003	NUM
ajfa-12904	7	25	)	)	PUNCT
ajfa-12904	7	26	.	.	PUNCT
ajfa-12904	8	1	while	while	SCONJ
ajfa-12904	8	2	managers	manager	NOUN
ajfa-12904	8	3	in	in	ADP
ajfa-12904	8	4	public	public	ADJ
ajfa-12904	8	5	firms	firm	NOUN
ajfa-12904	8	6	may	may	AUX
ajfa-12904	8	7	engage	engage	VERB
ajfa-12904	8	8	in	in	ADP
ajfa-12904	8	9	earnings	earning	NOUN
ajfa-12904	8	10	smoothing	smoothing	NOUN
ajfa-12904	8	11	activities	activity	NOUN
ajfa-12904	8	12	for	for	ADP
ajfa-12904	8	13	various	various	ADJ
ajfa-12904	8	14	reasons	reason	NOUN
ajfa-12904	8	15	such	such	ADJ
ajfa-12904	8	16	as	as	ADP
ajfa-12904	8	17	to	to	PART
ajfa-12904	8	18	gain	gain	VERB
ajfa-12904	8	19	higher	high	ADJ
ajfa-12904	8	20	compensation	compensation	NOUN
ajfa-12904	8	21	contract	contract	NOUN
ajfa-12904	8	22	in	in	ADP
ajfa-12904	8	23	the	the	DET
ajfa-12904	8	24	future	future	NOUN
ajfa-12904	8	25	,	,	PUNCT
ajfa-12904	8	26	to	to	PART
ajfa-12904	8	27	secure	secure	VERB
ajfa-12904	8	28	bonus	bonus	NOUN
ajfa-12904	8	29	which	which	PRON
ajfa-12904	8	30	are	be	AUX
ajfa-12904	8	31	tied	tie	VERB
ajfa-12904	8	32	to	to	ADP
ajfa-12904	8	33	current	current	ADJ
ajfa-12904	8	34	performance	performance	NOUN
ajfa-12904	8	35	,	,	PUNCT
ajfa-12904	8	36	or	or	CCONJ
ajfa-12904	8	37	to	to	PART
ajfa-12904	8	38	manage	manage	VERB
ajfa-12904	8	39	firm	firm	NOUN
ajfa-12904	8	40	’s	’s	PART
ajfa-12904	8	41	credit	credit	NOUN
ajfa-12904	8	42	ratings	rating	NOUN
ajfa-12904	8	43	(	(	PUNCT
ajfa-12904	8	44	goel	goel	PROPN
ajfa-12904	8	45	&	&	CCONJ
ajfa-12904	8	46	thakor	thakor	PROPN
ajfa-12904	8	47	,	,	PUNCT
ajfa-12904	8	48	2003	2003	NUM
ajfa-12904	8	49	;	;	PUNCT
ajfa-12904	8	50	jung	jung	PROPN
ajfa-12904	8	51	,	,	PUNCT
ajfa-12904	8	52	soderstrom	soderstrom	PROPN
ajfa-12904	8	53	,	,	PUNCT
ajfa-12904	8	54	&	&	CCONJ
ajfa-12904	8	55	yang	yang	PROPN
ajfa-12904	8	56	,	,	PUNCT
ajfa-12904	8	57	2013	2013	NUM
ajfa-12904	8	58	;	;	PUNCT
ajfa-12904	8	59	moses	moses	PROPN
ajfa-12904	8	60	,	,	PUNCT
ajfa-12904	8	61	1987	1987	NUM
ajfa-12904	8	62	)	)	PUNCT
ajfa-12904	8	63	,	,	PUNCT
ajfa-12904	8	64	managers	manager	NOUN
ajfa-12904	8	65	in	in	ADP
ajfa-12904	8	66	private	private	ADJ
ajfa-12904	8	67	firms	firm	NOUN
ajfa-12904	8	68	smooth	smooth	ADJ
ajfa-12904	8	69	earnings	earning	NOUN
ajfa-12904	8	70	mainly	mainly	ADV
ajfa-12904	8	71	to	to	PART
ajfa-12904	8	72	meet	meet	VERB
ajfa-12904	8	73	creditors	creditor	NOUN
ajfa-12904	8	74	’	'	PUNCT
ajfa-12904	8	75	demand	demand	NOUN
ajfa-12904	8	76	(	(	PUNCT
ajfa-12904	8	77	bigus	bigus	PROPN
ajfa-12904	8	78	&	&	CCONJ
ajfa-12904	8	79	häfele	häfele	PROPN
ajfa-12904	8	80	,	,	PUNCT
ajfa-12904	8	81	2016	2016	NUM
ajfa-12904	8	82	;	;	PUNCT
ajfa-12904	8	83	gassen	gassen	PROPN
ajfa-12904	8	84	&	&	CCONJ
ajfa-12904	8	85	fülbier	fülbier	NOUN
ajfa-12904	8	86	,	,	PUNCT
ajfa-12904	8	87	2015	2015	NUM
ajfa-12904	8	88	)	)	PUNCT
ajfa-12904	8	89	.	.	PUNCT
ajfa-12904	9	1	due	due	ADP
ajfa-12904	9	2	to	to	ADP
ajfa-12904	9	3	the	the	DET
ajfa-12904	9	4	nature	nature	NOUN
ajfa-12904	9	5	of	of	ADP
ajfa-12904	9	6	private	private	ADJ
ajfa-12904	9	7	firms	firm	NOUN
ajfa-12904	9	8	,	,	PUNCT
ajfa-12904	9	9	they	they	PRON
ajfa-12904	9	10	do	do	AUX
ajfa-12904	9	11	not	not	PART
ajfa-12904	9	12	have	have	VERB
ajfa-12904	9	13	access	access	NOUN
ajfa-12904	9	14	to	to	ADP
ajfa-12904	9	15	public	public	ADJ
ajfa-12904	9	16	debt	debt	NOUN
ajfa-12904	9	17	.	.	PUNCT
ajfa-12904	10	1	as	as	ADP
ajfa-12904	10	2	a	a	DET
ajfa-12904	10	3	consequence	consequence	NOUN
ajfa-12904	10	4	,	,	PUNCT
ajfa-12904	10	5	private	private	ADJ
ajfa-12904	10	6	firm	firm	NOUN
ajfa-12904	10	7	’s	’s	PART
ajfa-12904	10	8	source	source	NOUN
ajfa-12904	10	9	of	of	ADP
ajfa-12904	10	10	financing	financing	NOUN
ajfa-12904	10	11	is	be	AUX
ajfa-12904	10	12	limited	limit	VERB
ajfa-12904	10	13	to	to	ADP
ajfa-12904	10	14	creditors	creditor	NOUN
ajfa-12904	10	15	such	such	ADJ
ajfa-12904	10	16	as	as	ADP
ajfa-12904	10	17	banks	bank	NOUN
ajfa-12904	10	18	and	and	CCONJ
ajfa-12904	10	19	trade	trade	NOUN
ajfa-12904	10	20	creditors	creditor	NOUN
ajfa-12904	10	21	.	.	PUNCT
ajfa-12904	11	1	hence	hence	ADV
ajfa-12904	11	2	,	,	PUNCT
ajfa-12904	11	3	external	external	ADJ
ajfa-12904	11	4	creditors	creditor	NOUN
ajfa-12904	11	5	have	have	VERB
ajfa-12904	11	6	direct	direct	ADJ
ajfa-12904	11	7	and	and	CCONJ
ajfa-12904	11	8	indirect	indirect	ADJ
ajfa-12904	11	9	influence	influence	NOUN
ajfa-12904	11	10	on	on	ADP
ajfa-12904	11	11	private	private	ADJ
ajfa-12904	11	12	firm	firm	NOUN
ajfa-12904	11	13	’s	’s	PART
ajfa-12904	11	14	financial	financial	ADJ
ajfa-12904	11	15	reporting	reporting	NOUN
ajfa-12904	11	16	(	(	PUNCT
ajfa-12904	11	17	hope	hope	PROPN
ajfa-12904	11	18	&	&	CCONJ
ajfa-12904	11	19	vyas	vyas	PROPN
ajfa-12904	11	20	,	,	PUNCT
ajfa-12904	11	21	2017	2017	NUM
ajfa-12904	11	22	)	)	PUNCT
ajfa-12904	11	23	.	.	PUNCT
ajfa-12904	12	1	for	for	ADP
ajfa-12904	12	2	instance	instance	NOUN
ajfa-12904	12	3	,	,	PUNCT
ajfa-12904	12	4	creditors	creditor	NOUN
ajfa-12904	12	5	view	view	VERB
ajfa-12904	12	6	smooth	smooth	ADJ
ajfa-12904	12	7	earnings	earning	NOUN
ajfa-12904	12	8	as	as	ADP
ajfa-12904	12	9	the	the	DET
ajfa-12904	12	10	signal	signal	NOUN
ajfa-12904	12	11	of	of	ADP
ajfa-12904	12	12	a	a	DET
ajfa-12904	12	13	stable	stable	ADJ
ajfa-12904	12	14	and	and	CCONJ
ajfa-12904	12	15	viable	viable	ADJ
ajfa-12904	12	16	business	business	NOUN
ajfa-12904	12	17	operation	operation	NOUN
ajfa-12904	12	18	.	.	PUNCT
ajfa-12904	13	1	they	they	PRON
ajfa-12904	13	2	classify	classify	VERB
ajfa-12904	13	3	firms	firm	NOUN
ajfa-12904	13	4	with	with	ADP
ajfa-12904	13	5	smooth	smooth	ADJ
ajfa-12904	13	6	earnings	earning	NOUN
ajfa-12904	13	7	as	as	ADP
ajfa-12904	13	8	low	low	ADJ
ajfa-12904	13	9	loan	loan	NOUN
ajfa-12904	13	10	default	default	NOUN
ajfa-12904	13	11	risk	risk	NOUN
ajfa-12904	13	12	(	(	PUNCT
ajfa-12904	13	13	demerjian	demerjian	ADJ
ajfa-12904	13	14	,	,	PUNCT
ajfa-12904	13	15	donovan	donovan	PROPN
ajfa-12904	13	16	,	,	PUNCT
ajfa-12904	13	17	&	&	CCONJ
ajfa-12904	13	18	lewis	lewis	PROPN
ajfa-12904	13	19	-	-	PUNCT
ajfa-12904	13	20	western	western	ADJ
ajfa-12904	13	21	,	,	PUNCT
ajfa-12904	13	22	2017	2017	NUM
ajfa-12904	13	23	)	)	PUNCT
ajfa-12904	13	24	and	and	CCONJ
ajfa-12904	13	25	reward	reward	VERB
ajfa-12904	13	26	this	this	DET
ajfa-12904	13	27	type	type	NOUN
ajfa-12904	13	28	of	of	ADP
ajfa-12904	13	29	firm	firm	NOUN
ajfa-12904	13	30	with	with	ADP
ajfa-12904	13	31	lower	low	ADJ
ajfa-12904	13	32	interest	interest	NOUN
ajfa-12904	13	33	rate	rate	NOUN
ajfa-12904	13	34	(	(	PUNCT
ajfa-12904	13	35	amiram	amiram	PROPN
ajfa-12904	13	36	&	&	CCONJ
ajfa-12904	13	37	owens	owens	PROPN
ajfa-12904	13	38	,	,	PUNCT
ajfa-12904	13	39	2018	2018	NUM
ajfa-12904	13	40	;	;	PUNCT
ajfa-12904	13	41	gassen	gassen	PROPN
ajfa-12904	13	42	&	&	CCONJ
ajfa-12904	13	43	fülbier	fülbier	NOUN
ajfa-12904	13	44	,	,	PUNCT
ajfa-12904	13	45	2015	2015	NUM
ajfa-12904	13	46	)	)	PUNCT
ajfa-12904	13	47	.	.	PUNCT
ajfa-12904	14	1	therefore	therefore	ADV
ajfa-12904	14	2	,	,	PUNCT
ajfa-12904	14	3	managers	manager	NOUN
ajfa-12904	14	4	of	of	ADP
ajfa-12904	14	5	private	private	ADJ
ajfa-12904	14	6	firms	firm	NOUN
ajfa-12904	14	7	are	be	AUX
ajfa-12904	14	8	inherently	inherently	ADV
ajfa-12904	14	9	obliged	oblige	VERB
ajfa-12904	14	10	to	to	PART
ajfa-12904	14	11	report	report	VERB
ajfa-12904	14	12	smooth	smooth	ADJ
ajfa-12904	14	13	earnings	earning	NOUN
ajfa-12904	14	14	to	to	PART
ajfa-12904	14	15	enjoy	enjoy	VERB
ajfa-12904	14	16	a	a	DET
ajfa-12904	14	17	better	well	ADJ
ajfa-12904	14	18	loan	loan	NOUN
ajfa-12904	14	19	covenant	covenant	NOUN
ajfa-12904	14	20	and	and	CCONJ
ajfa-12904	14	21	lower	low	ADJ
ajfa-12904	14	22	interest	interest	NOUN
ajfa-12904	14	23	rate	rate	NOUN
ajfa-12904	14	24	from	from	ADP
ajfa-12904	14	25	creditors	creditor	NOUN
ajfa-12904	14	26	.	.	PUNCT
ajfa-12904	15	1	in	in	ADP
ajfa-12904	15	2	contrast	contrast	NOUN
ajfa-12904	15	3	with	with	ADP
ajfa-12904	15	4	the	the	DET
ajfa-12904	15	5	view	view	NOUN
ajfa-12904	15	6	of	of	ADP
ajfa-12904	15	7	creditors	creditor	NOUN
ajfa-12904	15	8	that	that	PRON
ajfa-12904	15	9	smooth	smooth	ADJ
ajfa-12904	15	10	earnings	earning	NOUN
ajfa-12904	15	11	signals	signal	NOUN
ajfa-12904	15	12	business	business	NOUN
ajfa-12904	15	13	’	'	PUNCT
ajfa-12904	15	14	viability	viability	NOUN
ajfa-12904	15	15	(	(	PUNCT
ajfa-12904	15	16	e.g.	e.g.	ADV
ajfa-12904	15	17	tucker	tucker	PROPN
ajfa-12904	15	18	&	&	CCONJ
ajfa-12904	15	19	zarowin	zarowin	PROPN
ajfa-12904	15	20	2006	2006	NUM
ajfa-12904	15	21	;	;	PUNCT
ajfa-12904	15	22	amiram	amiram	PROPN
ajfa-12904	15	23	&	&	CCONJ
ajfa-12904	15	24	owens	owens	PROPN
ajfa-12904	15	25	2017	2017	NUM
ajfa-12904	15	26	;	;	PUNCT
ajfa-12904	15	27	dou	dou	X
ajfa-12904	15	28	et	et	PROPN
ajfa-12904	15	29	al	al	PROPN
ajfa-12904	15	30	.	.	PROPN
ajfa-12904	15	31	2013	2013	NUM
ajfa-12904	15	32	)	)	PUNCT
ajfa-12904	15	33	,	,	PUNCT
ajfa-12904	15	34	recent	recent	ADJ
ajfa-12904	15	35	literature	literature	NOUN
ajfa-12904	15	36	finds	find	VERB
ajfa-12904	15	37	that	that	SCONJ
ajfa-12904	15	38	earnings	earning	NOUN
ajfa-12904	15	39	smoothing	smoothing	NOUN
ajfa-12904	15	40	is	be	AUX
ajfa-12904	15	41	associated	associate	VERB
ajfa-12904	15	42	with	with	ADP
ajfa-12904	15	43	stock	stock	NOUN
ajfa-12904	15	44	price	price	NOUN
ajfa-12904	15	45	crash	crash	NOUN
ajfa-12904	15	46	risk	risk	NOUN
ajfa-12904	15	47	.	.	PUNCT
ajfa-12904	16	1	studies	study	NOUN
ajfa-12904	16	2	by	by	ADP
ajfa-12904	16	3	chen	chen	PROPN
ajfa-12904	16	4	et	et	PROPN
ajfa-12904	16	5	al	al	PROPN
ajfa-12904	16	6	.	.	PROPN
ajfa-12904	16	7	(	(	PUNCT
ajfa-12904	16	8	2017	2017	NUM
ajfa-12904	16	9	)	)	PUNCT
ajfa-12904	16	10	and	and	CCONJ
ajfa-12904	16	11	khurana	khurana	PROPN
ajfa-12904	16	12	et	et	PROPN
ajfa-12904	16	13	al	al	PROPN
ajfa-12904	16	14	.	.	PROPN
ajfa-12904	17	1	(	(	PUNCT
ajfa-12904	17	2	2017	2017	NUM
ajfa-12904	17	3	)	)	PUNCT
ajfa-12904	17	4	find	find	VERB
ajfa-12904	17	5	that	that	SCONJ
ajfa-12904	17	6	both	both	CCONJ
ajfa-12904	17	7	artificial	artificial	ADJ
ajfa-12904	17	8	and	and	CCONJ
ajfa-12904	17	9	real	real	ADJ
ajfa-12904	17	10	earnings	earning	NOUN
ajfa-12904	17	11	smoothing	smoothing	NOUN
ajfa-12904	17	12	are	be	AUX
ajfa-12904	17	13	positively	positively	ADV
ajfa-12904	17	14	associated	associate	VERB
ajfa-12904	17	15	with	with	ADP
ajfa-12904	17	16	stock	stock	NOUN
ajfa-12904	17	17	price	price	NOUN
ajfa-12904	17	18	crash	crash	NOUN
ajfa-12904	17	19	risk	risk	NOUN
ajfa-12904	17	20	.	.	PUNCT
ajfa-12904	18	1	these	these	DET
ajfa-12904	18	2	findings	finding	NOUN
ajfa-12904	18	3	are	be	AUX
ajfa-12904	18	4	consistent	consistent	ADJ
ajfa-12904	18	5	with	with	ADP
ajfa-12904	18	6	the	the	DET
ajfa-12904	18	7	view	view	NOUN
ajfa-12904	18	8	that	that	SCONJ
ajfa-12904	18	9	earnings	earning	NOUN
ajfa-12904	18	10	smoothing	smooth	VERB
ajfa-12904	18	11	encourages	encourage	VERB
ajfa-12904	18	12	manager	manager	NOUN
ajfa-12904	18	13	’s	’s	PART
ajfa-12904	18	14	opportunistic	opportunistic	ADJ
ajfa-12904	18	15	behavior	behavior	NOUN
ajfa-12904	18	16	and	and	CCONJ
ajfa-12904	18	17	helps	help	VERB
ajfa-12904	18	18	obfuscates	obfuscate	VERB
ajfa-12904	18	19	the	the	DET
ajfa-12904	18	20	true	true	ADJ
ajfa-12904	18	21	underlying	underlying	ADJ
ajfa-12904	18	22	performance	performance	NOUN
ajfa-12904	18	23	of	of	ADP
ajfa-12904	18	24	a	a	DET
ajfa-12904	18	25	firm	firm	NOUN
ajfa-12904	18	26	.	.	PUNCT
ajfa-12904	19	1	consequently	consequently	ADV
ajfa-12904	19	2	,	,	PUNCT
ajfa-12904	19	3	the	the	DET
ajfa-12904	19	4	findings	finding	NOUN
ajfa-12904	19	5	of	of	ADP
ajfa-12904	19	6	chen	chen	PROPN
ajfa-12904	19	7	et	et	PROPN
ajfa-12904	19	8	al	al	PROPN
ajfa-12904	19	9	.	.	PROPN
ajfa-12904	20	1	(	(	PUNCT
ajfa-12904	20	2	2017	2017	NUM
ajfa-12904	20	3	)	)	PUNCT
ajfa-12904	20	4	and	and	CCONJ
ajfa-12904	20	5	khurana	khurana	PROPN
ajfa-12904	20	6	et	et	PROPN
ajfa-12904	20	7	al	al	PROPN
ajfa-12904	20	8	.	.	PROPN
ajfa-12904	21	1	(	(	PUNCT
ajfa-12904	21	2	2017	2017	NUM
ajfa-12904	21	3	)	)	PUNCT
ajfa-12904	21	4	raise	raise	VERB
ajfa-12904	21	5	the	the	DET
ajfa-12904	21	6	following	following	ADJ
ajfa-12904	21	7	question	question	NOUN
ajfa-12904	21	8	:	:	PUNCT
ajfa-12904	21	9	does	do	AUX
ajfa-12904	21	10	earnings	earning	NOUN
ajfa-12904	21	11	smoothing	smoothing	NOUN
ajfa-12904	21	12	has	have	VERB
ajfa-12904	21	13	the	the	DET
ajfa-12904	21	14	same	same	ADJ
ajfa-12904	21	15	impact	impact	NOUN
ajfa-12904	21	16	on	on	ADP
ajfa-12904	21	17	private	private	ADJ
ajfa-12904	21	18	firms	firm	NOUN
ajfa-12904	21	19	destroying	destroy	VERB
ajfa-12904	21	20	firm	firm	NOUN
ajfa-12904	21	21	’s	’s	PART
ajfa-12904	21	22	value	value	NOUN
ajfa-12904	21	23	and	and	CCONJ
ajfa-12904	21	24	putting	put	VERB
ajfa-12904	21	25	firm	firm	NOUN
ajfa-12904	21	26	at	at	ADP
ajfa-12904	21	27	risk	risk	NOUN
ajfa-12904	21	28	?	?	PUNCT
ajfa-12904	22	1	unfortunately	unfortunately	ADV
ajfa-12904	22	2	,	,	PUNCT
ajfa-12904	22	3	the	the	DET
ajfa-12904	22	4	same	same	ADJ
ajfa-12904	22	5	inference	inference	NOUN
ajfa-12904	22	6	can	can	AUX
ajfa-12904	22	7	not	not	PART
ajfa-12904	22	8	be	be	AUX
ajfa-12904	22	9	made	make	VERB
ajfa-12904	22	10	about	about	ADP
ajfa-12904	22	11	private	private	ADJ
ajfa-12904	22	12	firms	firm	NOUN
ajfa-12904	22	13	since	since	SCONJ
ajfa-12904	22	14	private	private	ADJ
ajfa-12904	22	15	firms	firm	NOUN
ajfa-12904	22	16	do	do	AUX
ajfa-12904	22	17	not	not	PART
ajfa-12904	22	18	have	have	VERB
ajfa-12904	22	19	stock	stock	NOUN
ajfa-12904	22	20	price	price	NOUN
ajfa-12904	22	21	crash	crash	NOUN
ajfa-12904	22	22	risk	risk	NOUN
ajfa-12904	22	23	.	.	PUNCT
ajfa-12904	23	1	this	this	DET
ajfa-12904	23	2	study	study	NOUN
ajfa-12904	23	3	,	,	PUNCT
ajfa-12904	23	4	therefore	therefore	ADV
ajfa-12904	23	5	,	,	PUNCT
ajfa-12904	23	6	intends	intend	VERB
ajfa-12904	23	7	to	to	PART
ajfa-12904	23	8	fill	fill	VERB
ajfa-12904	23	9	the	the	DET
ajfa-12904	23	10	gap	gap	NOUN
ajfa-12904	23	11	by	by	ADP
ajfa-12904	23	12	examining	examine	VERB
ajfa-12904	23	13	the	the	DET
ajfa-12904	23	14	effect	effect	NOUN
ajfa-12904	23	15	of	of	ADP
ajfa-12904	23	16	earnings	earning	NOUN
ajfa-12904	23	17	smoothing	smooth	VERB
ajfa-12904	23	18	behavior	behavior	NOUN
ajfa-12904	23	19	on	on	ADP
ajfa-12904	23	20	private	private	ADJ
ajfa-12904	23	21	firm	firm	NOUN
ajfa-12904	23	22	’s	’s	PART
ajfa-12904	23	23	bankruptcy	bankruptcy	NOUN
ajfa-12904	23	24	risk	risk	NOUN
ajfa-12904	23	25	.	.	PUNCT
ajfa-12904	24	1	firms	firm	NOUN
ajfa-12904	24	2	that	that	PRON
ajfa-12904	24	3	are	be	AUX
ajfa-12904	24	4	in	in	ADP
ajfa-12904	24	5	liquidation	liquidation	NOUN
ajfa-12904	24	6	process	process	NOUN
ajfa-12904	24	7	are	be	AUX
ajfa-12904	24	8	chosen	choose	VERB
ajfa-12904	24	9	as	as	ADP
ajfa-12904	24	10	the	the	DET
ajfa-12904	24	11	sample	sample	NOUN
ajfa-12904	24	12	group	group	NOUN
ajfa-12904	24	13	because	because	SCONJ
ajfa-12904	24	14	these	these	DET
ajfa-12904	24	15	firms	firm	NOUN
ajfa-12904	24	16	are	be	AUX
ajfa-12904	24	17	facing	face	VERB
ajfa-12904	24	18	bankruptcy	bankruptcy	NOUN
ajfa-12904	24	19	.	.	PUNCT
ajfa-12904	25	1	therefore	therefore	ADV
ajfa-12904	25	2	,	,	PUNCT
ajfa-12904	25	3	if	if	SCONJ
ajfa-12904	25	4	earnings	earning	NOUN
ajfa-12904	25	5	smoothing	smoothing	NOUN
ajfa-12904	25	6	are	be	AUX
ajfa-12904	25	7	indeed	indeed	ADV
ajfa-12904	25	8	related	relate	VERB
ajfa-12904	25	9	to	to	ADP
ajfa-12904	25	10	bankruptcy	bankruptcy	NOUN
ajfa-12904	25	11	risk	risk	NOUN
ajfa-12904	25	12	in	in	ADP
ajfa-12904	25	13	private	private	ADJ
ajfa-12904	25	14	firms	firm	NOUN
ajfa-12904	25	15	,	,	PUNCT
ajfa-12904	25	16	the	the	DET
ajfa-12904	25	17	relation	relation	NOUN
ajfa-12904	25	18	will	will	AUX
ajfa-12904	25	19	be	be	AUX
ajfa-12904	25	20	highlighted	highlight	VERB
ajfa-12904	25	21	in	in	ADP
ajfa-12904	25	22	the	the	DET
ajfa-12904	25	23	examination	examination	NOUN
ajfa-12904	25	24	.	.	PUNCT
ajfa-12904	26	1	using	use	VERB
ajfa-12904	26	2	firm	firm	ADJ
ajfa-12904	26	3	-	-	PUNCT
ajfa-12904	26	4	specific	specific	ADJ
ajfa-12904	26	5	bankruptcy	bankruptcy	NOUN
ajfa-12904	26	6	risk	risk	NOUN
ajfa-12904	26	7	,	,	PUNCT
ajfa-12904	26	8	as	as	SCONJ
ajfa-12904	26	9	measured	measure	VERB
ajfa-12904	26	10	by	by	ADP
ajfa-12904	26	11	altman	altman	PROPN
ajfa-12904	26	12	(	(	PUNCT
ajfa-12904	26	13	1983	1983	NUM
ajfa-12904	26	14	)	)	PUNCT
ajfa-12904	26	15	z	z	NOUN
ajfa-12904	26	16	”	"	PUNCT
ajfa-12904	26	17	score	score	NOUN
ajfa-12904	26	18	,	,	PUNCT
ajfa-12904	26	19	this	this	DET
ajfa-12904	26	20	study	study	NOUN
ajfa-12904	26	21	finds	find	VERB
ajfa-12904	26	22	that	that	SCONJ
ajfa-12904	26	23	among	among	ADP
ajfa-12904	26	24	the	the	DET
ajfa-12904	26	25	financially	financially	ADV
ajfa-12904	26	26	distressed	distressed	ADJ
ajfa-12904	26	27	firms	firm	NOUN
ajfa-12904	26	28	,	,	PUNCT
ajfa-12904	26	29	firms	firm	NOUN
ajfa-12904	26	30	with	with	ADP
ajfa-12904	26	31	smoother	smooth	ADJ
ajfa-12904	26	32	earnings	earning	NOUN
ajfa-12904	26	33	is	be	AUX
ajfa-12904	26	34	found	find	VERB
ajfa-12904	26	35	to	to	PART
ajfa-12904	26	36	be	be	AUX
ajfa-12904	26	37	significantly	significantly	ADV
ajfa-12904	26	38	negatively	negatively	ADV
ajfa-12904	26	39	associated	associate	VERB
ajfa-12904	26	40	with	with	ADP
ajfa-12904	26	41	bankruptcy	bankruptcy	NOUN
ajfa-12904	26	42	risk	risk	NOUN
ajfa-12904	26	43	.	.	PUNCT
ajfa-12904	27	1	the	the	DET
ajfa-12904	27	2	finding	finding	NOUN
ajfa-12904	27	3	implies	imply	VERB
ajfa-12904	27	4	that	that	SCONJ
ajfa-12904	27	5	financially	financially	ADV
ajfa-12904	27	6	distressed	distressed	ADJ
ajfa-12904	27	7	firms	firm	NOUN
ajfa-12904	27	8	engage	engage	VERB
ajfa-12904	27	9	with	with	ADP
ajfa-12904	27	10	less	less	ADV
ajfa-12904	27	11	accrual	accrual	ADJ
ajfa-12904	27	12	earnings	earning	NOUN
ajfa-12904	27	13	smoothing	smoothing	NOUN
ajfa-12904	27	14	because	because	SCONJ
ajfa-12904	27	15	they	they	PRON
ajfa-12904	27	16	have	have	AUX
ajfa-12904	27	17	run	run	VERB
ajfa-12904	27	18	out	out	ADP
ajfa-12904	27	19	of	of	ADP
ajfa-12904	27	20	opportunities	opportunity	NOUN
ajfa-12904	27	21	to	to	PART
ajfa-12904	27	22	manipulate	manipulate	VERB
ajfa-12904	27	23	earnings	earning	NOUN
ajfa-12904	27	24	via	via	ADP
ajfa-12904	27	25	accrual	accrual	ADJ
ajfa-12904	27	26	earnings	earning	NOUN
ajfa-12904	27	27	smoothing	smoothing	NOUN
ajfa-12904	27	28	.	.	PUNCT
ajfa-12904	28	1	nonetheless	nonetheless	ADV
ajfa-12904	28	2	,	,	PUNCT
ajfa-12904	28	3	further	further	ADJ
ajfa-12904	28	4	examination	examination	NOUN
ajfa-12904	28	5	shows	show	VERB
ajfa-12904	28	6	that	that	SCONJ
ajfa-12904	28	7	these	these	DET
ajfa-12904	28	8	firms	firm	NOUN
ajfa-12904	28	9	engage	engage	VERB
ajfa-12904	28	10	less	less	ADV
ajfa-12904	28	11	with	with	ADP
ajfa-12904	28	12	earnings	earning	NOUN
ajfa-12904	28	13	smoothing	smoothing	NOUN
ajfa-12904	28	14	because	because	SCONJ
ajfa-12904	28	15	they	they	PRON
ajfa-12904	28	16	are	be	AUX
ajfa-12904	28	17	being	be	AUX
ajfa-12904	28	18	monitored	monitor	VERB
ajfa-12904	28	19	by	by	ADP
ajfa-12904	28	20	external	external	ADJ
ajfa-12904	28	21	creditors	creditor	NOUN
ajfa-12904	28	22	,	,	PUNCT
ajfa-12904	28	23	indicated	indicate	VERB
ajfa-12904	28	24	by	by	ADP
ajfa-12904	28	25	significantly	significantly	ADV
ajfa-12904	28	26	high	high	ADJ
ajfa-12904	28	27	leverage	leverage	NOUN
ajfa-12904	28	28	during	during	ADP
ajfa-12904	28	29	the	the	DET
ajfa-12904	28	30	last	last	ADJ
ajfa-12904	28	31	year	year	NOUN
ajfa-12904	28	32	before	before	SCONJ
ajfa-12904	28	33	they	they	PRON
ajfa-12904	28	34	are	be	AUX
ajfa-12904	28	35	being	be	AUX
ajfa-12904	28	36	liquidated	liquidate	VERB
ajfa-12904	28	37	as	as	ADP
ajfa-12904	28	38	compared	compare	VERB
ajfa-12904	28	39	to	to	ADP
ajfa-12904	28	40	two	two	NUM
ajfa-12904	28	41	or	or	CCONJ
ajfa-12904	28	42	three	three	NUM
ajfa-12904	28	43	years	year	NOUN
ajfa-12904	28	44	prior	prior	ADV
ajfa-12904	28	45	to	to	ADP
ajfa-12904	28	46	the	the	DET
ajfa-12904	28	47	liquidation	liquidation	NOUN
ajfa-12904	28	48	event	event	NOUN
ajfa-12904	28	49	.	.	PUNCT
ajfa-12904	29	1	asian	asian	ADJ
ajfa-12904	29	2	journal	journal	PROPN
ajfa-12904	29	3	of	of	ADP
ajfa-12904	29	4	finance	finance	PROPN
ajfa-12904	29	5	&	&	CCONJ
ajfa-12904	29	6	accounting	accounting	PROPN
ajfa-12904	29	7	issn	issn	PROPN
ajfa-12904	29	8	1946	1946	NUM
ajfa-12904	29	9	-	-	PUNCT
ajfa-12904	29	10	052x	052x	NOUN
ajfa-12904	29	11	2018	2018	NUM
ajfa-12904	29	12	,	,	PUNCT
ajfa-12904	29	13	vol	vol	NOUN
ajfa-12904	29	14	.	.	PROPN
ajfa-12904	29	15	10	10	NUM
ajfa-12904	29	16	,	,	PUNCT
ajfa-12904	29	17	no	no	INTJ
ajfa-12904	29	18	.	.	NOUN
ajfa-12904	29	19	1	1	NUM
ajfa-12904	29	20	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-12904	29	21	164	164	NUM
ajfa-12904	29	22	this	this	DET
ajfa-12904	29	23	study	study	NOUN
ajfa-12904	29	24	makes	make	VERB
ajfa-12904	29	25	three	three	NUM
ajfa-12904	29	26	important	important	ADJ
ajfa-12904	29	27	contributions	contribution	NOUN
ajfa-12904	29	28	to	to	ADP
ajfa-12904	29	29	the	the	DET
ajfa-12904	29	30	body	body	NOUN
ajfa-12904	29	31	of	of	ADP
ajfa-12904	29	32	knowledge	knowledge	NOUN
ajfa-12904	29	33	regarding	regard	VERB
ajfa-12904	29	34	earnings	earning	NOUN
ajfa-12904	29	35	smoothing	smoothing	NOUN
ajfa-12904	29	36	and	and	CCONJ
ajfa-12904	29	37	private	private	ADJ
ajfa-12904	29	38	firms	firm	NOUN
ajfa-12904	29	39	.	.	PUNCT
ajfa-12904	30	1	firstly	firstly	ADV
ajfa-12904	30	2	,	,	PUNCT
ajfa-12904	30	3	this	this	DET
ajfa-12904	30	4	study	study	NOUN
ajfa-12904	30	5	contributes	contribute	VERB
ajfa-12904	30	6	to	to	ADP
ajfa-12904	30	7	the	the	DET
ajfa-12904	30	8	literature	literature	NOUN
ajfa-12904	30	9	that	that	PRON
ajfa-12904	30	10	investigates	investigate	VERB
ajfa-12904	30	11	the	the	DET
ajfa-12904	30	12	attributes	attribute	NOUN
ajfa-12904	30	13	of	of	ADP
ajfa-12904	30	14	earnings	earning	NOUN
ajfa-12904	30	15	smoothing	smoothing	NOUN
ajfa-12904	30	16	.	.	PUNCT
ajfa-12904	31	1	previous	previous	ADJ
ajfa-12904	31	2	research	research	NOUN
ajfa-12904	31	3	on	on	ADP
ajfa-12904	31	4	earnings	earning	NOUN
ajfa-12904	31	5	smoothing	smoothing	NOUN
ajfa-12904	31	6	have	have	AUX
ajfa-12904	31	7	been	be	AUX
ajfa-12904	31	8	focusing	focus	VERB
ajfa-12904	31	9	on	on	ADP
ajfa-12904	31	10	public	public	ADJ
ajfa-12904	31	11	firms	firm	NOUN
ajfa-12904	31	12	(	(	PUNCT
ajfa-12904	31	13	shabani	shabani	PROPN
ajfa-12904	31	14	&	&	CCONJ
ajfa-12904	31	15	sofian	sofian	PROPN
ajfa-12904	31	16	,	,	PUNCT
ajfa-12904	31	17	2018	2018	NUM
ajfa-12904	31	18	)	)	PUNCT
ajfa-12904	31	19	.	.	PUNCT
ajfa-12904	32	1	only	only	ADV
ajfa-12904	32	2	few	few	ADJ
ajfa-12904	32	3	research	research	NOUN
ajfa-12904	32	4	examine	examine	VERB
ajfa-12904	32	5	the	the	DET
ajfa-12904	32	6	attributes	attribute	NOUN
ajfa-12904	32	7	of	of	ADP
ajfa-12904	32	8	earnings	earning	NOUN
ajfa-12904	32	9	smoothing	smooth	VERB
ajfa-12904	32	10	in	in	ADP
ajfa-12904	32	11	private	private	ADJ
ajfa-12904	32	12	firms	firm	NOUN
ajfa-12904	32	13	such	such	ADJ
ajfa-12904	32	14	as	as	ADP
ajfa-12904	32	15	bigus	bigus	ADJ
ajfa-12904	32	16	and	and	CCONJ
ajfa-12904	32	17	häfele	häfele	NOUN
ajfa-12904	32	18	(	(	PUNCT
ajfa-12904	32	19	2016	2016	NUM
ajfa-12904	32	20	)	)	PUNCT
ajfa-12904	32	21	and	and	CCONJ
ajfa-12904	32	22	gassen	gassen	NOUN
ajfa-12904	32	23	and	and	CCONJ
ajfa-12904	32	24	fulbier	fulbi	ADJ
ajfa-12904	32	25	(	(	PUNCT
ajfa-12904	32	26	2015	2015	NUM
ajfa-12904	32	27	)	)	PUNCT
ajfa-12904	32	28	.	.	PUNCT
ajfa-12904	33	1	to	to	ADP
ajfa-12904	33	2	our	our	PRON
ajfa-12904	33	3	knowledge	knowledge	NOUN
ajfa-12904	33	4	,	,	PUNCT
ajfa-12904	33	5	this	this	PRON
ajfa-12904	33	6	is	be	AUX
ajfa-12904	33	7	the	the	DET
ajfa-12904	33	8	first	first	ADJ
ajfa-12904	33	9	paper	paper	NOUN
ajfa-12904	33	10	that	that	PRON
ajfa-12904	33	11	examines	examine	VERB
ajfa-12904	33	12	earnings	earning	NOUN
ajfa-12904	33	13	smoothing	smooth	VERB
ajfa-12904	33	14	behavior	behavior	NOUN
ajfa-12904	33	15	in	in	ADP
ajfa-12904	33	16	financially	financially	ADV
ajfa-12904	33	17	distressed	distressed	ADJ
ajfa-12904	33	18	private	private	ADJ
ajfa-12904	33	19	firms	firm	NOUN
ajfa-12904	33	20	.	.	PUNCT
ajfa-12904	34	1	the	the	DET
ajfa-12904	34	2	findings	finding	NOUN
ajfa-12904	34	3	highlight	highlight	VERB
ajfa-12904	34	4	that	that	SCONJ
ajfa-12904	34	5	,	,	PUNCT
ajfa-12904	34	6	contrary	contrary	ADV
ajfa-12904	34	7	to	to	ADP
ajfa-12904	34	8	the	the	DET
ajfa-12904	34	9	findings	finding	NOUN
ajfa-12904	34	10	in	in	ADP
ajfa-12904	34	11	public	public	ADJ
ajfa-12904	34	12	firms	firm	NOUN
ajfa-12904	34	13	,	,	PUNCT
ajfa-12904	34	14	earnings	earning	NOUN
ajfa-12904	34	15	smoothing	smoothing	NOUN
ajfa-12904	34	16	does	do	AUX
ajfa-12904	34	17	not	not	PART
ajfa-12904	34	18	contribute	contribute	VERB
ajfa-12904	34	19	to	to	ADP
ajfa-12904	34	20	private	private	ADJ
ajfa-12904	34	21	firm	firm	NOUN
ajfa-12904	34	22	’s	’s	PART
ajfa-12904	34	23	value	value	NOUN
ajfa-12904	34	24	being	be	AUX
ajfa-12904	34	25	destroyed	destroy	VERB
ajfa-12904	34	26	.	.	PUNCT
ajfa-12904	35	1	secondly	secondly	ADV
ajfa-12904	35	2	,	,	PUNCT
ajfa-12904	35	3	this	this	DET
ajfa-12904	35	4	study	study	NOUN
ajfa-12904	35	5	provides	provide	VERB
ajfa-12904	35	6	additional	additional	ADJ
ajfa-12904	35	7	evidence	evidence	NOUN
ajfa-12904	35	8	on	on	ADP
ajfa-12904	35	9	the	the	DET
ajfa-12904	35	10	attributes	attribute	NOUN
ajfa-12904	35	11	of	of	ADP
ajfa-12904	35	12	financial	financial	ADJ
ajfa-12904	35	13	reporting	reporting	NOUN
ajfa-12904	35	14	for	for	ADP
ajfa-12904	35	15	private	private	ADJ
ajfa-12904	35	16	firms	firm	NOUN
ajfa-12904	35	17	.	.	PUNCT
ajfa-12904	36	1	this	this	DET
ajfa-12904	36	2	study	study	NOUN
ajfa-12904	36	3	finds	find	VERB
ajfa-12904	36	4	that	that	SCONJ
ajfa-12904	36	5	private	private	ADJ
ajfa-12904	36	6	firms	firm	NOUN
ajfa-12904	36	7	’	’	PART
ajfa-12904	36	8	behavior	behavior	NOUN
ajfa-12904	36	9	in	in	ADP
ajfa-12904	36	10	reporting	report	VERB
ajfa-12904	36	11	their	their	PRON
ajfa-12904	36	12	earnings	earning	NOUN
ajfa-12904	36	13	is	be	AUX
ajfa-12904	36	14	highly	highly	ADV
ajfa-12904	36	15	influenced	influence	VERB
ajfa-12904	36	16	by	by	ADP
ajfa-12904	36	17	their	their	PRON
ajfa-12904	36	18	creditors	creditor	NOUN
ajfa-12904	36	19	financially	financially	ADV
ajfa-12904	36	20	distressed	distressed	ADJ
ajfa-12904	36	21	firms	firm	NOUN
ajfa-12904	36	22	with	with	ADP
ajfa-12904	36	23	higher	high	ADJ
ajfa-12904	36	24	leverage	leverage	NOUN
ajfa-12904	36	25	engage	engage	VERB
ajfa-12904	36	26	with	with	ADP
ajfa-12904	36	27	lesser	less	ADJ
ajfa-12904	36	28	earnings	earning	NOUN
ajfa-12904	36	29	smoothing	smoothing	NOUN
ajfa-12904	36	30	,	,	PUNCT
ajfa-12904	36	31	similar	similar	ADJ
ajfa-12904	36	32	to	to	ADP
ajfa-12904	36	33	the	the	DET
ajfa-12904	36	34	findings	finding	NOUN
ajfa-12904	36	35	by	by	ADP
ajfa-12904	36	36	gassen	gassen	NOUN
ajfa-12904	36	37	and	and	CCONJ
ajfa-12904	36	38	fülbier	fülbier	NOUN
ajfa-12904	36	39	(	(	PUNCT
ajfa-12904	36	40	2015	2015	NUM
ajfa-12904	36	41	)	)	PUNCT
ajfa-12904	36	42	.	.	PUNCT
ajfa-12904	37	1	finally	finally	ADV
ajfa-12904	37	2	,	,	PUNCT
ajfa-12904	37	3	this	this	DET
ajfa-12904	37	4	study	study	NOUN
ajfa-12904	37	5	contributes	contribute	VERB
ajfa-12904	37	6	to	to	ADP
ajfa-12904	37	7	the	the	DET
ajfa-12904	37	8	debate	debate	NOUN
ajfa-12904	37	9	of	of	ADP
ajfa-12904	37	10	earnings	earning	NOUN
ajfa-12904	37	11	smoothing	smoothing	NOUN
ajfa-12904	37	12	as	as	SCONJ
ajfa-12904	37	13	information	information	NOUN
ajfa-12904	37	14	signaling	signal	VERB
ajfa-12904	37	15	versus	versus	ADP
ajfa-12904	37	16	information	information	NOUN
ajfa-12904	37	17	garbling	garbling	NOUN
ajfa-12904	37	18	.	.	PUNCT
ajfa-12904	38	1	this	this	DET
ajfa-12904	38	2	study	study	NOUN
ajfa-12904	38	3	finds	find	VERB
ajfa-12904	38	4	evidence	evidence	NOUN
ajfa-12904	38	5	that	that	SCONJ
ajfa-12904	38	6	financially	financially	ADV
ajfa-12904	38	7	distressed	distressed	ADJ
ajfa-12904	38	8	firms	firm	NOUN
ajfa-12904	38	9	do	do	AUX
ajfa-12904	38	10	not	not	PART
ajfa-12904	38	11	use	use	VERB
ajfa-12904	38	12	earnings	earning	NOUN
ajfa-12904	38	13	smoothing	smooth	VERB
ajfa-12904	38	14	to	to	ADP
ajfa-12904	38	15	garble	garble	ADJ
ajfa-12904	38	16	information	information	NOUN
ajfa-12904	38	17	because	because	SCONJ
ajfa-12904	38	18	they	they	PRON
ajfa-12904	38	19	can	can	AUX
ajfa-12904	38	20	not	not	PART
ajfa-12904	38	21	use	use	VERB
ajfa-12904	38	22	accruals	accrual	NOUN
ajfa-12904	38	23	to	to	PART
ajfa-12904	38	24	smooth	smooth	VERB
ajfa-12904	38	25	earnings	earning	NOUN
ajfa-12904	38	26	anymore	anymore	ADV
ajfa-12904	38	27	.	.	PUNCT
ajfa-12904	39	1	2	2	X
ajfa-12904	39	2	.	.	X
ajfa-12904	39	3	literature	literature	NOUN
ajfa-12904	39	4	review	review	NOUN
ajfa-12904	39	5	earnings	earning	NOUN
ajfa-12904	39	6	smoothing	smoothing	NOUN
ajfa-12904	39	7	is	be	AUX
ajfa-12904	39	8	part	part	NOUN
ajfa-12904	39	9	of	of	ADP
ajfa-12904	39	10	earnings	earning	NOUN
ajfa-12904	39	11	management	management	NOUN
ajfa-12904	39	12	,	,	PUNCT
ajfa-12904	39	13	where	where	SCONJ
ajfa-12904	39	14	managers	manager	NOUN
ajfa-12904	39	15	report	report	VERB
ajfa-12904	39	16	manipulated	manipulate	VERB
ajfa-12904	39	17	earnings	earning	NOUN
ajfa-12904	39	18	which	which	PRON
ajfa-12904	39	19	does	do	AUX
ajfa-12904	39	20	not	not	PART
ajfa-12904	39	21	accurately	accurately	ADV
ajfa-12904	39	22	represent	represent	VERB
ajfa-12904	39	23	economic	economic	ADJ
ajfa-12904	39	24	earnings	earning	NOUN
ajfa-12904	39	25	for	for	ADP
ajfa-12904	39	26	the	the	DET
ajfa-12904	39	27	reporting	reporting	NOUN
ajfa-12904	39	28	period	period	NOUN
ajfa-12904	39	29	.	.	PUNCT
ajfa-12904	40	1	earnings	earning	NOUN
ajfa-12904	40	2	smoothing	smoothing	NOUN
ajfa-12904	40	3	involves	involve	VERB
ajfa-12904	40	4	intertemporal	intertemporal	ADJ
ajfa-12904	40	5	smoothing	smoothing	NOUN
ajfa-12904	40	6	of	of	ADP
ajfa-12904	40	7	reported	report	VERB
ajfa-12904	40	8	earnings	earning	NOUN
ajfa-12904	40	9	related	relate	VERB
ajfa-12904	40	10	to	to	ADP
ajfa-12904	40	11	economic	economic	ADJ
ajfa-12904	40	12	earnings	earning	NOUN
ajfa-12904	40	13	,	,	PUNCT
ajfa-12904	40	14	to	to	PART
ajfa-12904	40	15	make	make	VERB
ajfa-12904	40	16	earnings	earning	NOUN
ajfa-12904	40	17	look	look	VERB
ajfa-12904	40	18	less	less	ADV
ajfa-12904	40	19	variable	variable	ADJ
ajfa-12904	40	20	over	over	ADP
ajfa-12904	40	21	time	time	NOUN
ajfa-12904	40	22	.	.	PUNCT
ajfa-12904	41	1	the	the	DET
ajfa-12904	41	2	literature	literature	NOUN
ajfa-12904	41	3	shows	show	VERB
ajfa-12904	41	4	that	that	SCONJ
ajfa-12904	41	5	managers	manager	NOUN
ajfa-12904	41	6	smooth	smooth	ADJ
ajfa-12904	41	7	earnings	earning	NOUN
ajfa-12904	41	8	for	for	ADP
ajfa-12904	41	9	either	either	DET
ajfa-12904	41	10	one	one	NUM
ajfa-12904	41	11	of	of	ADP
ajfa-12904	41	12	two	two	NUM
ajfa-12904	41	13	main	main	ADJ
ajfa-12904	41	14	reasons	reason	NOUN
ajfa-12904	41	15	:	:	PUNCT
ajfa-12904	41	16	as	as	ADP
ajfa-12904	41	17	information	information	NOUN
ajfa-12904	41	18	signaling	signal	VERB
ajfa-12904	41	19	or	or	CCONJ
ajfa-12904	41	20	information	information	NOUN
ajfa-12904	41	21	garbling	garble	VERB
ajfa-12904	41	22	.	.	PUNCT
ajfa-12904	42	1	earnings	earning	NOUN
ajfa-12904	42	2	smoothing	smoothing	NOUN
ajfa-12904	42	3	is	be	AUX
ajfa-12904	42	4	regarded	regard	VERB
ajfa-12904	42	5	as	as	ADP
ajfa-12904	42	6	information	information	NOUN
ajfa-12904	42	7	signaling	signal	VERB
ajfa-12904	42	8	when	when	SCONJ
ajfa-12904	42	9	managers	manager	NOUN
ajfa-12904	42	10	use	use	VERB
ajfa-12904	42	11	earnings	earning	NOUN
ajfa-12904	42	12	smoothing	smoothing	NOUN
ajfa-12904	42	13	as	as	ADP
ajfa-12904	42	14	a	a	DET
ajfa-12904	42	15	vehicle	vehicle	NOUN
ajfa-12904	42	16	to	to	PART
ajfa-12904	42	17	communicate	communicate	VERB
ajfa-12904	42	18	private	private	ADJ
ajfa-12904	42	19	information	information	NOUN
ajfa-12904	42	20	about	about	ADP
ajfa-12904	42	21	firm	firm	NOUN
ajfa-12904	42	22	’s	’s	PART
ajfa-12904	42	23	future	future	ADJ
ajfa-12904	42	24	earnings	earning	NOUN
ajfa-12904	42	25	to	to	ADP
ajfa-12904	42	26	outside	outside	ADJ
ajfa-12904	42	27	stakeholders	stakeholder	NOUN
ajfa-12904	42	28	(	(	PUNCT
ajfa-12904	42	29	arya	arya	PROPN
ajfa-12904	42	30	,	,	PUNCT
ajfa-12904	42	31	glover	glover	PROPN
ajfa-12904	42	32	,	,	PUNCT
ajfa-12904	42	33	&	&	CCONJ
ajfa-12904	42	34	sunder	sunder	PROPN
ajfa-12904	42	35	,	,	PUNCT
ajfa-12904	42	36	2003	2003	NUM
ajfa-12904	42	37	;	;	PUNCT
ajfa-12904	42	38	kirschenheiter	kirschenheiter	NOUN
ajfa-12904	42	39	&	&	CCONJ
ajfa-12904	42	40	melumad	melumad	PROPN
ajfa-12904	42	41	,	,	PUNCT
ajfa-12904	42	42	2002	2002	NUM
ajfa-12904	42	43	;	;	PUNCT
ajfa-12904	42	44	sankar	sankar	NOUN
ajfa-12904	42	45	&	&	CCONJ
ajfa-12904	42	46	subramanyam	subramanyam	PROPN
ajfa-12904	42	47	,	,	PUNCT
ajfa-12904	42	48	2001	2001	NUM
ajfa-12904	42	49	)	)	PUNCT
ajfa-12904	42	50	.	.	PUNCT
ajfa-12904	43	1	under	under	ADP
ajfa-12904	43	2	this	this	DET
ajfa-12904	43	3	view	view	NOUN
ajfa-12904	43	4	,	,	PUNCT
ajfa-12904	43	5	earnings	earning	NOUN
ajfa-12904	43	6	smoothing	smoothing	NOUN
ajfa-12904	43	7	plays	play	VERB
ajfa-12904	43	8	an	an	DET
ajfa-12904	43	9	important	important	ADJ
ajfa-12904	43	10	role	role	NOUN
ajfa-12904	43	11	in	in	ADP
ajfa-12904	43	12	bridging	bridge	VERB
ajfa-12904	43	13	the	the	DET
ajfa-12904	43	14	information	information	NOUN
ajfa-12904	43	15	opacity	opacity	NOUN
ajfa-12904	43	16	between	between	ADP
ajfa-12904	43	17	management	management	NOUN
ajfa-12904	43	18	and	and	CCONJ
ajfa-12904	43	19	other	other	ADJ
ajfa-12904	43	20	stakeholders	stakeholder	NOUN
ajfa-12904	43	21	(	(	PUNCT
ajfa-12904	43	22	goel	goel	PROPN
ajfa-12904	43	23	&	&	CCONJ
ajfa-12904	43	24	thakor	thakor	PROPN
ajfa-12904	43	25	,	,	PUNCT
ajfa-12904	43	26	2003	2003	NUM
ajfa-12904	43	27	)	)	PUNCT
ajfa-12904	43	28	and	and	CCONJ
ajfa-12904	43	29	therefore	therefore	ADV
ajfa-12904	43	30	earnings	earning	NOUN
ajfa-12904	43	31	smoothing	smoothing	NOUN
ajfa-12904	43	32	is	be	AUX
ajfa-12904	43	33	considered	consider	VERB
ajfa-12904	43	34	very	very	ADV
ajfa-12904	43	35	useful	useful	ADJ
ajfa-12904	43	36	to	to	ADP
ajfa-12904	43	37	the	the	DET
ajfa-12904	43	38	stakeholders	stakeholder	NOUN
ajfa-12904	43	39	like	like	ADP
ajfa-12904	43	40	participants	participant	NOUN
ajfa-12904	43	41	in	in	ADP
ajfa-12904	43	42	public	public	ADJ
ajfa-12904	43	43	market	market	NOUN
ajfa-12904	43	44	,	,	PUNCT
ajfa-12904	43	45	creditors	creditor	NOUN
ajfa-12904	43	46	and	and	CCONJ
ajfa-12904	43	47	credit	credit	NOUN
ajfa-12904	43	48	rating	rating	NOUN
ajfa-12904	43	49	agencies	agency	NOUN
ajfa-12904	43	50	.	.	PUNCT
ajfa-12904	44	1	public	public	ADJ
ajfa-12904	44	2	market	market	NOUN
ajfa-12904	44	3	participants	participant	NOUN
ajfa-12904	44	4	reward	reward	VERB
ajfa-12904	44	5	firms	firm	NOUN
ajfa-12904	44	6	which	which	PRON
ajfa-12904	44	7	report	report	VERB
ajfa-12904	44	8	smooth	smooth	ADJ
ajfa-12904	44	9	earnings	earning	NOUN
ajfa-12904	44	10	with	with	ADP
ajfa-12904	44	11	lower	low	ADJ
ajfa-12904	44	12	cost	cost	NOUN
ajfa-12904	44	13	of	of	ADP
ajfa-12904	44	14	equity	equity	NOUN
ajfa-12904	44	15	(	(	PUNCT
ajfa-12904	44	16	francis	francis	PROPN
ajfa-12904	44	17	,	,	PUNCT
ajfa-12904	44	18	lafond	lafond	PROPN
ajfa-12904	44	19	,	,	PUNCT
ajfa-12904	44	20	olsson	olsson	PROPN
ajfa-12904	44	21	,	,	PUNCT
ajfa-12904	44	22	&	&	CCONJ
ajfa-12904	44	23	schipper	schipper	PROPN
ajfa-12904	44	24	,	,	PUNCT
ajfa-12904	44	25	2005	2005	NUM
ajfa-12904	44	26	)	)	PUNCT
ajfa-12904	44	27	and	and	CCONJ
ajfa-12904	44	28	lower	low	ADJ
ajfa-12904	44	29	cost	cost	NOUN
ajfa-12904	44	30	of	of	ADP
ajfa-12904	44	31	debt	debt	NOUN
ajfa-12904	44	32	(	(	PUNCT
ajfa-12904	44	33	bond	bond	NOUN
ajfa-12904	44	34	)	)	PUNCT
ajfa-12904	44	35	(	(	PUNCT
ajfa-12904	44	36	li	li	PROPN
ajfa-12904	44	37	&	&	CCONJ
ajfa-12904	44	38	richie	richie	PROPN
ajfa-12904	44	39	,	,	PUNCT
ajfa-12904	44	40	2016	2016	NUM
ajfa-12904	44	41	)	)	PUNCT
ajfa-12904	44	42	.	.	PUNCT
ajfa-12904	45	1	similarly	similarly	ADV
ajfa-12904	45	2	,	,	PUNCT
ajfa-12904	45	3	creditors	creditor	NOUN
ajfa-12904	45	4	and	and	CCONJ
ajfa-12904	45	5	credit	credit	NOUN
ajfa-12904	45	6	rating	rating	NOUN
ajfa-12904	45	7	agencies	agency	NOUN
ajfa-12904	45	8	also	also	ADV
ajfa-12904	45	9	reward	reward	VERB
ajfa-12904	45	10	firms	firm	NOUN
ajfa-12904	45	11	which	which	PRON
ajfa-12904	45	12	have	have	VERB
ajfa-12904	45	13	smoother	smooth	ADJ
ajfa-12904	45	14	income	income	NOUN
ajfa-12904	45	15	with	with	ADP
ajfa-12904	45	16	lower	low	ADJ
ajfa-12904	45	17	cost	cost	NOUN
ajfa-12904	45	18	of	of	ADP
ajfa-12904	45	19	debt	debt	NOUN
ajfa-12904	45	20	and	and	CCONJ
ajfa-12904	45	21	better	well	ADJ
ajfa-12904	45	22	credit	credit	NOUN
ajfa-12904	45	23	rating	rating	NOUN
ajfa-12904	45	24	;	;	PUNCT
ajfa-12904	45	25	they	they	PRON
ajfa-12904	45	26	believe	believe	VERB
ajfa-12904	45	27	that	that	SCONJ
ajfa-12904	45	28	smooth	smooth	ADJ
ajfa-12904	45	29	earnings	earning	NOUN
ajfa-12904	45	30	signals	signal	NOUN
ajfa-12904	45	31	reduced	reduce	VERB
ajfa-12904	45	32	the	the	DET
ajfa-12904	45	33	probability	probability	NOUN
ajfa-12904	45	34	of	of	ADP
ajfa-12904	45	35	default	default	NOUN
ajfa-12904	45	36	risks	risk	NOUN
ajfa-12904	45	37	(	(	PUNCT
ajfa-12904	45	38	amiram	amiram	PROPN
ajfa-12904	45	39	&	&	CCONJ
ajfa-12904	45	40	owens	owens	PROPN
ajfa-12904	45	41	,	,	PUNCT
ajfa-12904	45	42	2018	2018	NUM
ajfa-12904	45	43	;	;	PUNCT
ajfa-12904	45	44	jung	jung	PROPN
ajfa-12904	45	45	et	et	PROPN
ajfa-12904	45	46	al	al	PROPN
ajfa-12904	45	47	.	.	PROPN
ajfa-12904	45	48	,	,	PUNCT
ajfa-12904	45	49	2013	2013	NUM
ajfa-12904	45	50	;	;	PUNCT
ajfa-12904	45	51	trueman	trueman	PROPN
ajfa-12904	45	52	&	&	CCONJ
ajfa-12904	45	53	titman	titman	NOUN
ajfa-12904	45	54	,	,	PUNCT
ajfa-12904	45	55	1988	1988	NUM
ajfa-12904	45	56	)	)	PUNCT
ajfa-12904	45	57	.	.	PUNCT
ajfa-12904	46	1	given	give	VERB
ajfa-12904	46	2	these	these	DET
ajfa-12904	46	3	findings	finding	NOUN
ajfa-12904	46	4	,	,	PUNCT
ajfa-12904	46	5	it	it	PRON
ajfa-12904	46	6	comes	come	VERB
ajfa-12904	46	7	to	to	ADP
ajfa-12904	46	8	no	no	DET
ajfa-12904	46	9	surprise	surprise	NOUN
ajfa-12904	46	10	when	when	SCONJ
ajfa-12904	46	11	graham	graham	PROPN
ajfa-12904	46	12	et	et	PROPN
ajfa-12904	46	13	al	al	PROPN
ajfa-12904	46	14	.	.	PROPN
ajfa-12904	47	1	(	(	PUNCT
ajfa-12904	47	2	2005	2005	NUM
ajfa-12904	47	3	)	)	PUNCT
ajfa-12904	47	4	find	find	VERB
ajfa-12904	47	5	that	that	SCONJ
ajfa-12904	47	6	vast	vast	ADJ
ajfa-12904	47	7	majority	majority	NOUN
ajfa-12904	47	8	of	of	ADP
ajfa-12904	47	9	top	top	ADJ
ajfa-12904	47	10	management	management	NOUN
ajfa-12904	47	11	prefer	prefer	VERB
ajfa-12904	47	12	smooth	smooth	ADJ
ajfa-12904	47	13	earnings	earning	NOUN
ajfa-12904	47	14	path	path	NOUN
ajfa-12904	47	15	.	.	PUNCT
ajfa-12904	48	1	on	on	ADP
ajfa-12904	48	2	the	the	DET
ajfa-12904	48	3	other	other	ADJ
ajfa-12904	48	4	hand	hand	NOUN
ajfa-12904	48	5	,	,	PUNCT
ajfa-12904	48	6	earnings	earning	NOUN
ajfa-12904	48	7	smoothing	smoothing	NOUN
ajfa-12904	48	8	is	be	AUX
ajfa-12904	48	9	considered	consider	VERB
ajfa-12904	48	10	as	as	ADP
ajfa-12904	48	11	information	information	NOUN
ajfa-12904	48	12	garbling	garble	VERB
ajfa-12904	48	13	when	when	SCONJ
ajfa-12904	48	14	earnings	earning	NOUN
ajfa-12904	48	15	smoothing	smoothing	NOUN
ajfa-12904	48	16	distorts	distort	VERB
ajfa-12904	48	17	information	information	NOUN
ajfa-12904	48	18	and	and	CCONJ
ajfa-12904	48	19	consequently	consequently	ADV
ajfa-12904	48	20	leads	lead	VERB
ajfa-12904	48	21	to	to	ADP
ajfa-12904	48	22	higher	high	ADJ
ajfa-12904	48	23	information	information	NOUN
ajfa-12904	48	24	opacity	opacity	NOUN
ajfa-12904	48	25	.	.	PUNCT
ajfa-12904	49	1	bhattacharya	bhattacharya	PROPN
ajfa-12904	49	2	et	et	PROPN
ajfa-12904	49	3	al	al	PROPN
ajfa-12904	49	4	.	.	PROPN
ajfa-12904	50	1	(	(	PUNCT
ajfa-12904	50	2	2003	2003	NUM
ajfa-12904	50	3	)	)	PUNCT
ajfa-12904	50	4	argue	argue	VERB
ajfa-12904	50	5	that	that	SCONJ
ajfa-12904	50	6	earnings	earning	NOUN
ajfa-12904	50	7	smoothing	smoothing	NOUN
ajfa-12904	50	8	resulted	result	VERB
ajfa-12904	50	9	in	in	ADP
ajfa-12904	50	10	reported	reported	ADJ
ajfa-12904	50	11	earnings	earning	NOUN
ajfa-12904	50	12	not	not	PART
ajfa-12904	50	13	depicting	depict	VERB
ajfa-12904	50	14	the	the	DET
ajfa-12904	50	15	true	true	ADJ
ajfa-12904	50	16	underlying	underlying	ADJ
ajfa-12904	50	17	economic	economic	ADJ
ajfa-12904	50	18	performance	performance	NOUN
ajfa-12904	50	19	of	of	ADP
ajfa-12904	50	20	the	the	DET
ajfa-12904	50	21	firm	firm	NOUN
ajfa-12904	50	22	,	,	PUNCT
ajfa-12904	50	23	and	and	CCONJ
ajfa-12904	50	24	hence	hence	ADV
ajfa-12904	50	25	reducing	reduce	VERB
ajfa-12904	50	26	the	the	DET
ajfa-12904	50	27	asian	asian	ADJ
ajfa-12904	50	28	journal	journal	NOUN
ajfa-12904	50	29	of	of	ADP
ajfa-12904	50	30	finance	finance	PROPN
ajfa-12904	50	31	&	&	CCONJ
ajfa-12904	50	32	accounting	accounting	PROPN
ajfa-12904	50	33	issn	issn	PROPN
ajfa-12904	50	34	1946	1946	NUM
ajfa-12904	50	35	-	-	PUNCT
ajfa-12904	50	36	052x	052x	NOUN
ajfa-12904	50	37	2018	2018	NUM
ajfa-12904	50	38	,	,	PUNCT
ajfa-12904	50	39	vol	vol	NOUN
ajfa-12904	50	40	.	.	PROPN
ajfa-12904	50	41	10	10	NUM
ajfa-12904	50	42	,	,	PUNCT
ajfa-12904	50	43	no	no	INTJ
ajfa-12904	50	44	.	.	NOUN
ajfa-12904	50	45	1	1	NUM
ajfa-12904	50	46	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-12904	50	47	165	165	NUM
ajfa-12904	50	48	informativeness	informativeness	NOUN
ajfa-12904	50	49	of	of	ADP
ajfa-12904	50	50	reported	report	VERB
ajfa-12904	50	51	earnings	earning	NOUN
ajfa-12904	50	52	and	and	CCONJ
ajfa-12904	50	53	increasing	increase	VERB
ajfa-12904	50	54	information	information	NOUN
ajfa-12904	50	55	opacity	opacity	NOUN
ajfa-12904	50	56	.	.	PUNCT
ajfa-12904	51	1	in	in	ADP
ajfa-12904	51	2	line	line	NOUN
ajfa-12904	51	3	with	with	ADP
ajfa-12904	51	4	this	this	DET
ajfa-12904	51	5	view	view	NOUN
ajfa-12904	51	6	,	,	PUNCT
ajfa-12904	51	7	jayaraman	jayaraman	NOUN
ajfa-12904	51	8	(	(	PUNCT
ajfa-12904	51	9	2008	2008	NUM
ajfa-12904	51	10	)	)	PUNCT
ajfa-12904	51	11	documents	document	NOUN
ajfa-12904	51	12	that	that	PRON
ajfa-12904	51	13	earnings	earning	NOUN
ajfa-12904	51	14	smoothing	smoothing	NOUN
ajfa-12904	51	15	is	be	AUX
ajfa-12904	51	16	associated	associate	VERB
ajfa-12904	51	17	with	with	ADP
ajfa-12904	51	18	higher	high	ADJ
ajfa-12904	51	19	bid	bid	NOUN
ajfa-12904	51	20	-	-	PUNCT
ajfa-12904	51	21	ask	ask	NOUN
ajfa-12904	51	22	spreads	spread	NOUN
ajfa-12904	51	23	and	and	CCONJ
ajfa-12904	51	24	the	the	DET
ajfa-12904	51	25	probability	probability	NOUN
ajfa-12904	51	26	of	of	ADP
ajfa-12904	51	27	informed	informed	ADJ
ajfa-12904	51	28	trading	trading	NOUN
ajfa-12904	51	29	while	while	SCONJ
ajfa-12904	51	30	cahan	cahan	PROPN
ajfa-12904	51	31	et	et	PROPN
ajfa-12904	51	32	al	al	PROPN
ajfa-12904	51	33	.	.	PROPN
ajfa-12904	52	1	(	(	PUNCT
ajfa-12904	52	2	2008	2008	NUM
ajfa-12904	52	3	)	)	PUNCT
ajfa-12904	52	4	and	and	CCONJ
ajfa-12904	52	5	maffet	maffet	NOUN
ajfa-12904	52	6	(	(	PUNCT
ajfa-12904	52	7	2012	2012	NUM
ajfa-12904	52	8	)	)	PUNCT
ajfa-12904	52	9	find	find	VERB
ajfa-12904	52	10	that	that	SCONJ
ajfa-12904	52	11	firms	firm	NOUN
ajfa-12904	52	12	in	in	ADP
ajfa-12904	52	13	countries	country	NOUN
ajfa-12904	52	14	with	with	ADP
ajfa-12904	52	15	weak	weak	ADJ
ajfa-12904	52	16	investor	investor	NOUN
ajfa-12904	52	17	protection	protection	NOUN
ajfa-12904	52	18	use	use	VERB
ajfa-12904	52	19	earnings	earning	NOUN
ajfa-12904	52	20	smoothing	smoothing	NOUN
ajfa-12904	52	21	for	for	ADP
ajfa-12904	52	22	opportunistic	opportunistic	ADJ
ajfa-12904	52	23	reasons	reason	NOUN
ajfa-12904	52	24	.	.	PUNCT
ajfa-12904	53	1	based	base	VERB
ajfa-12904	53	2	on	on	ADP
ajfa-12904	53	3	the	the	DET
ajfa-12904	53	4	extant	extant	ADJ
ajfa-12904	53	5	literature	literature	NOUN
ajfa-12904	53	6	,	,	PUNCT
ajfa-12904	53	7	earnings	earning	NOUN
ajfa-12904	53	8	smoothing	smoothing	NOUN
ajfa-12904	53	9	as	as	ADP
ajfa-12904	53	10	information	information	NOUN
ajfa-12904	53	11	garbling	garble	VERB
ajfa-12904	53	12	is	be	AUX
ajfa-12904	53	13	associated	associate	VERB
ajfa-12904	53	14	with	with	ADP
ajfa-12904	53	15	manager	manager	NOUN
ajfa-12904	53	16	’s	’s	PART
ajfa-12904	53	17	opportunistic	opportunistic	ADJ
ajfa-12904	53	18	behaviour	behaviour	NOUN
ajfa-12904	53	19	managers	manager	NOUN
ajfa-12904	53	20	smooth	smooth	ADJ
ajfa-12904	53	21	earnings	earning	NOUN
ajfa-12904	53	22	for	for	ADP
ajfa-12904	53	23	personal	personal	ADJ
ajfa-12904	53	24	gain	gain	NOUN
ajfa-12904	53	25	such	such	ADJ
ajfa-12904	53	26	as	as	ADP
ajfa-12904	53	27	to	to	PART
ajfa-12904	53	28	meet	meet	VERB
ajfa-12904	53	29	bonus	bonus	NOUN
ajfa-12904	53	30	target	target	NOUN
ajfa-12904	53	31	(	(	PUNCT
ajfa-12904	53	32	das	das	PROPN
ajfa-12904	53	33	,	,	PUNCT
ajfa-12904	53	34	hong	hong	PROPN
ajfa-12904	53	35	,	,	PUNCT
ajfa-12904	53	36	&	&	CCONJ
ajfa-12904	53	37	kim	kim	PROPN
ajfa-12904	53	38	,	,	PUNCT
ajfa-12904	53	39	2013	2013	NUM
ajfa-12904	53	40	;	;	PUNCT
ajfa-12904	53	41	gaver	gaver	PROPN
ajfa-12904	53	42	,	,	PUNCT
ajfa-12904	53	43	gaver	gaver	PROPN
ajfa-12904	53	44	,	,	PUNCT
ajfa-12904	53	45	&	&	CCONJ
ajfa-12904	53	46	austin	austin	PROPN
ajfa-12904	53	47	,	,	PUNCT
ajfa-12904	53	48	1995	1995	NUM
ajfa-12904	53	49	;	;	PUNCT
ajfa-12904	53	50	healy	healy	PROPN
ajfa-12904	53	51	,	,	PUNCT
ajfa-12904	53	52	1985	1985	NUM
ajfa-12904	53	53	;	;	PUNCT
ajfa-12904	53	54	moses	moses	PROPN
ajfa-12904	53	55	,	,	PUNCT
ajfa-12904	53	56	1987	1987	NUM
ajfa-12904	53	57	)	)	PUNCT
ajfa-12904	53	58	or	or	CCONJ
ajfa-12904	53	59	for	for	ADP
ajfa-12904	53	60	job	job	NOUN
ajfa-12904	53	61	security	security	NOUN
ajfa-12904	53	62	(	(	PUNCT
ajfa-12904	53	63	grant	grant	NOUN
ajfa-12904	53	64	,	,	PUNCT
ajfa-12904	53	65	markarian	markarian	NOUN
ajfa-12904	53	66	,	,	PUNCT
ajfa-12904	53	67	&	&	CCONJ
ajfa-12904	53	68	parbonetti	parbonetti	PROPN
ajfa-12904	53	69	,	,	PUNCT
ajfa-12904	53	70	2009	2009	NUM
ajfa-12904	53	71	;	;	PUNCT
ajfa-12904	53	72	ronen	ronen	PROPN
ajfa-12904	53	73	&	&	CCONJ
ajfa-12904	53	74	sadan	sadan	PROPN
ajfa-12904	53	75	,	,	PUNCT
ajfa-12904	53	76	1981	1981	NUM
ajfa-12904	53	77	)	)	PUNCT
ajfa-12904	53	78	.	.	PUNCT
ajfa-12904	54	1	according	accord	VERB
ajfa-12904	54	2	to	to	ADP
ajfa-12904	54	3	ronen	ronen	PROPN
ajfa-12904	54	4	and	and	CCONJ
ajfa-12904	54	5	sadan	sadan	PROPN
ajfa-12904	54	6	(	(	PUNCT
ajfa-12904	54	7	1981	1981	NUM
ajfa-12904	54	8	)	)	PUNCT
ajfa-12904	54	9	,	,	PUNCT
ajfa-12904	54	10	manager	manager	NOUN
ajfa-12904	54	11	’s	’s	PART
ajfa-12904	54	12	compensation	compensation	NOUN
ajfa-12904	54	13	and	and	CCONJ
ajfa-12904	54	14	tenure	tenure	NOUN
ajfa-12904	54	15	is	be	AUX
ajfa-12904	54	16	associated	associate	VERB
ajfa-12904	54	17	with	with	ADP
ajfa-12904	54	18	business	business	NOUN
ajfa-12904	54	19	risk	risk	NOUN
ajfa-12904	54	20	.	.	PUNCT
ajfa-12904	55	1	therefore	therefore	ADV
ajfa-12904	55	2	,	,	PUNCT
ajfa-12904	55	3	to	to	PART
ajfa-12904	55	4	secure	secure	VERB
ajfa-12904	55	5	their	their	PRON
ajfa-12904	55	6	job	job	NOUN
ajfa-12904	55	7	tenure	tenure	NOUN
ajfa-12904	55	8	and	and	CCONJ
ajfa-12904	55	9	compensation	compensation	NOUN
ajfa-12904	55	10	,	,	PUNCT
ajfa-12904	55	11	managers	manager	NOUN
ajfa-12904	55	12	smooth	smooth	ADJ
ajfa-12904	55	13	earnings	earning	NOUN
ajfa-12904	55	14	to	to	PART
ajfa-12904	55	15	manage	manage	VERB
ajfa-12904	55	16	shareholders	shareholder	NOUN
ajfa-12904	55	17	’	'	PUNCT
ajfa-12904	55	18	perception	perception	NOUN
ajfa-12904	55	19	on	on	ADP
ajfa-12904	55	20	firm	firm	NOUN
ajfa-12904	55	21	’s	’s	PART
ajfa-12904	55	22	risk	risk	NOUN
ajfa-12904	55	23	,	,	PUNCT
ajfa-12904	55	24	since	since	SCONJ
ajfa-12904	55	25	shareholders	shareholder	NOUN
ajfa-12904	55	26	perceive	perceive	VERB
ajfa-12904	55	27	lower	low	ADJ
ajfa-12904	55	28	earnings	earning	NOUN
ajfa-12904	55	29	volatility	volatility	NOUN
ajfa-12904	55	30	as	as	ADP
ajfa-12904	55	31	lower	low	ADJ
ajfa-12904	55	32	business	business	NOUN
ajfa-12904	55	33	risk	risk	NOUN
ajfa-12904	55	34	.	.	PUNCT
ajfa-12904	56	1	2.1	2.1	NUM
ajfa-12904	56	2	earnings	earning	NOUN
ajfa-12904	56	3	smoothing	smoothing	NOUN
ajfa-12904	56	4	and	and	CCONJ
ajfa-12904	56	5	bankruptcy	bankruptcy	NOUN
ajfa-12904	56	6	risk	risk	NOUN
ajfa-12904	56	7	besides	besides	SCONJ
ajfa-12904	56	8	personal	personal	ADJ
ajfa-12904	56	9	reasons	reason	NOUN
ajfa-12904	57	1	,	,	PUNCT
ajfa-12904	57	2	managers	manager	NOUN
ajfa-12904	57	3	may	may	AUX
ajfa-12904	57	4	also	also	ADV
ajfa-12904	57	5	smooth	smooth	VERB
ajfa-12904	57	6	earnings	earning	NOUN
ajfa-12904	57	7	for	for	ADP
ajfa-12904	57	8	professional	professional	ADJ
ajfa-12904	57	9	reason	reason	NOUN
ajfa-12904	57	10	to	to	PART
ajfa-12904	57	11	maximize	maximize	VERB
ajfa-12904	57	12	firm	firm	NOUN
ajfa-12904	57	13	’s	’s	PART
ajfa-12904	57	14	value	value	NOUN
ajfa-12904	57	15	.	.	PUNCT
ajfa-12904	58	1	firm	firm	NOUN
ajfa-12904	58	2	’s	’s	PART
ajfa-12904	58	3	value	value	NOUN
ajfa-12904	58	4	is	be	AUX
ajfa-12904	58	5	dependent	dependent	ADJ
ajfa-12904	58	6	on	on	ADP
ajfa-12904	58	7	shareholders	shareholder	NOUN
ajfa-12904	58	8	’	'	PUNCT
ajfa-12904	58	9	perception	perception	NOUN
ajfa-12904	58	10	;	;	PUNCT
ajfa-12904	58	11	asymmetric	asymmetric	ADJ
ajfa-12904	58	12	information	information	NOUN
ajfa-12904	58	13	theory	theory	NOUN
ajfa-12904	58	14	argues	argue	VERB
ajfa-12904	58	15	that	that	SCONJ
ajfa-12904	58	16	investor	investor	NOUN
ajfa-12904	58	17	’s	’s	PART
ajfa-12904	58	18	estimate	estimate	NOUN
ajfa-12904	58	19	is	be	AUX
ajfa-12904	58	20	unbiased	unbiased	ADJ
ajfa-12904	58	21	and	and	CCONJ
ajfa-12904	58	22	‘	'	PUNCT
ajfa-12904	58	23	best	good	ADJ
ajfa-12904	58	24	’	'	PUNCT
ajfa-12904	58	25	based	base	VERB
ajfa-12904	58	26	on	on	ADP
ajfa-12904	58	27	the	the	DET
ajfa-12904	58	28	information	information	NOUN
ajfa-12904	58	29	they	they	PRON
ajfa-12904	58	30	have	have	VERB
ajfa-12904	58	31	.	.	PUNCT
ajfa-12904	59	1	therefore	therefore	ADV
ajfa-12904	59	2	,	,	PUNCT
ajfa-12904	59	3	it	it	PRON
ajfa-12904	59	4	is	be	AUX
ajfa-12904	59	5	considered	consider	VERB
ajfa-12904	59	6	rational	rational	ADJ
ajfa-12904	59	7	for	for	SCONJ
ajfa-12904	59	8	shareholders	shareholder	NOUN
ajfa-12904	59	9	to	to	PART
ajfa-12904	59	10	require	require	VERB
ajfa-12904	59	11	earnings	earning	NOUN
ajfa-12904	59	12	outcome	outcome	NOUN
ajfa-12904	59	13	that	that	PRON
ajfa-12904	59	14	is	be	AUX
ajfa-12904	59	15	consistent	consistent	ADJ
ajfa-12904	59	16	with	with	ADP
ajfa-12904	59	17	their	their	PRON
ajfa-12904	59	18	expectation	expectation	NOUN
ajfa-12904	59	19	(	(	PUNCT
ajfa-12904	59	20	acharya	acharya	PROPN
ajfa-12904	59	21	&	&	CCONJ
ajfa-12904	59	22	lambrecht	lambrecht	PROPN
ajfa-12904	59	23	,	,	PUNCT
ajfa-12904	59	24	2015	2015	NUM
ajfa-12904	59	25	)	)	PUNCT
ajfa-12904	59	26	.	.	PUNCT
ajfa-12904	60	1	in	in	ADP
ajfa-12904	60	2	addition	addition	NOUN
ajfa-12904	60	3	,	,	PUNCT
ajfa-12904	60	4	shareholders	shareholder	NOUN
ajfa-12904	60	5	infer	infer	VERB
ajfa-12904	60	6	reported	report	VERB
ajfa-12904	60	7	earnings	earning	NOUN
ajfa-12904	60	8	to	to	PART
ajfa-12904	60	9	be	be	AUX
ajfa-12904	60	10	of	of	ADP
ajfa-12904	60	11	high	high	ADJ
ajfa-12904	60	12	quality	quality	NOUN
ajfa-12904	60	13	,	,	PUNCT
ajfa-12904	60	14	and	and	CCONJ
ajfa-12904	60	15	value	value	NOUN
ajfa-12904	60	16	firm	firm	NOUN
ajfa-12904	60	17	higher	higher	ADV
ajfa-12904	60	18	,	,	PUNCT
ajfa-12904	60	19	if	if	SCONJ
ajfa-12904	60	20	earnings	earning	NOUN
ajfa-12904	60	21	surprise	surprise	NOUN
ajfa-12904	60	22	is	be	AUX
ajfa-12904	60	23	smaller	small	ADJ
ajfa-12904	60	24	(	(	PUNCT
ajfa-12904	60	25	i.e.	i.e.	X
ajfa-12904	60	26	reported	reported	ADJ
ajfa-12904	60	27	earnings	earning	NOUN
ajfa-12904	60	28	is	be	AUX
ajfa-12904	60	29	closer	close	ADJ
ajfa-12904	60	30	to	to	ADP
ajfa-12904	60	31	expected	expect	VERB
ajfa-12904	60	32	earnings	earning	NOUN
ajfa-12904	60	33	)	)	PUNCT
ajfa-12904	60	34	(	(	PUNCT
ajfa-12904	60	35	kirschenheiter	kirschenheiter	NOUN
ajfa-12904	60	36	&	&	CCONJ
ajfa-12904	60	37	melumad	melumad	PROPN
ajfa-12904	60	38	,	,	PUNCT
ajfa-12904	60	39	2002	2002	NUM
ajfa-12904	60	40	)	)	PUNCT
ajfa-12904	60	41	.	.	PUNCT
ajfa-12904	61	1	accordingly	accordingly	ADV
ajfa-12904	61	2	,	,	PUNCT
ajfa-12904	61	3	managers	manager	NOUN
ajfa-12904	61	4	have	have	VERB
ajfa-12904	61	5	to	to	PART
ajfa-12904	61	6	report	report	VERB
ajfa-12904	61	7	an	an	DET
ajfa-12904	61	8	earnings	earning	NOUN
ajfa-12904	61	9	figure	figure	NOUN
ajfa-12904	61	10	that	that	PRON
ajfa-12904	61	11	corresponds	correspond	VERB
ajfa-12904	61	12	to	to	ADP
ajfa-12904	61	13	outside	outside	ADJ
ajfa-12904	61	14	shareholders	shareholder	NOUN
ajfa-12904	61	15	’	'	PUNCT
ajfa-12904	61	16	expectation	expectation	NOUN
ajfa-12904	61	17	rather	rather	ADV
ajfa-12904	61	18	than	than	ADP
ajfa-12904	61	19	true	true	ADJ
ajfa-12904	61	20	income	income	NOUN
ajfa-12904	61	21	.	.	PUNCT
ajfa-12904	62	1	in	in	ADP
ajfa-12904	62	2	line	line	NOUN
ajfa-12904	62	3	with	with	ADP
ajfa-12904	62	4	the	the	DET
ajfa-12904	62	5	view	view	NOUN
ajfa-12904	62	6	that	that	SCONJ
ajfa-12904	62	7	managers	manager	NOUN
ajfa-12904	62	8	smooth	smooth	ADJ
ajfa-12904	62	9	earnings	earning	NOUN
ajfa-12904	62	10	to	to	PART
ajfa-12904	62	11	maximize	maximize	VERB
ajfa-12904	62	12	firm	firm	NOUN
ajfa-12904	62	13	’s	’s	PART
ajfa-12904	62	14	value	value	NOUN
ajfa-12904	62	15	,	,	PUNCT
ajfa-12904	62	16	earnings	earning	NOUN
ajfa-12904	62	17	smoothing	smoothing	NOUN
ajfa-12904	62	18	also	also	ADV
ajfa-12904	62	19	provides	provide	VERB
ajfa-12904	62	20	managers	manager	NOUN
ajfa-12904	62	21	with	with	ADP
ajfa-12904	62	22	the	the	DET
ajfa-12904	62	23	opportunity	opportunity	NOUN
ajfa-12904	62	24	to	to	PART
ajfa-12904	62	25	withhold	withhold	VERB
ajfa-12904	62	26	bad	bad	ADJ
ajfa-12904	62	27	news	news	NOUN
ajfa-12904	62	28	.	.	PUNCT
ajfa-12904	63	1	during	during	ADP
ajfa-12904	63	2	good	good	ADJ
ajfa-12904	63	3	times	time	NOUN
ajfa-12904	63	4	,	,	PUNCT
ajfa-12904	63	5	managers	manager	NOUN
ajfa-12904	63	6	manage	manage	VERB
ajfa-12904	63	7	earnings	earning	NOUN
ajfa-12904	63	8	downward	downward	ADV
ajfa-12904	63	9	,	,	PUNCT
ajfa-12904	63	10	giving	give	VERB
ajfa-12904	63	11	them	they	PRON
ajfa-12904	63	12	opportunity	opportunity	NOUN
ajfa-12904	63	13	to	to	PART
ajfa-12904	63	14	conceal	conceal	VERB
ajfa-12904	63	15	bad	bad	ADJ
ajfa-12904	63	16	news	news	NOUN
ajfa-12904	63	17	in	in	ADP
ajfa-12904	63	18	the	the	DET
ajfa-12904	63	19	future	future	NOUN
ajfa-12904	63	20	.	.	PUNCT
ajfa-12904	64	1	graham	graham	PROPN
ajfa-12904	64	2	et	et	PROPN
ajfa-12904	64	3	al	al	PROPN
ajfa-12904	64	4	.	.	PROPN
ajfa-12904	65	1	(	(	PUNCT
ajfa-12904	65	2	2005	2005	NUM
ajfa-12904	65	3	)	)	PUNCT
ajfa-12904	65	4	report	report	NOUN
ajfa-12904	65	5	that	that	SCONJ
ajfa-12904	65	6	managers	manager	NOUN
ajfa-12904	65	7	withhold	withhold	VERB
ajfa-12904	65	8	bad	bad	ADJ
ajfa-12904	65	9	news	news	NOUN
ajfa-12904	65	10	;	;	PUNCT
ajfa-12904	65	11	in	in	ADP
ajfa-12904	65	12	case	case	NOUN
ajfa-12904	65	13	things	thing	NOUN
ajfa-12904	65	14	might	might	AUX
ajfa-12904	65	15	turn	turn	VERB
ajfa-12904	65	16	around	around	ADV
ajfa-12904	65	17	in	in	ADP
ajfa-12904	65	18	the	the	DET
ajfa-12904	65	19	future	future	NOUN
ajfa-12904	65	20	,	,	PUNCT
ajfa-12904	65	21	they	they	PRON
ajfa-12904	65	22	may	may	AUX
ajfa-12904	65	23	be	be	AUX
ajfa-12904	65	24	able	able	ADJ
ajfa-12904	65	25	to	to	PART
ajfa-12904	65	26	bury	bury	VERB
ajfa-12904	65	27	the	the	DET
ajfa-12904	65	28	bad	bad	ADJ
ajfa-12904	65	29	news	news	NOUN
ajfa-12904	65	30	.	.	PUNCT
ajfa-12904	66	1	similarly	similarly	ADV
ajfa-12904	66	2	,	,	PUNCT
ajfa-12904	66	3	kothari	kothari	PROPN
ajfa-12904	66	4	et	et	PROPN
ajfa-12904	66	5	al	al	PROPN
ajfa-12904	66	6	.	.	PROPN
ajfa-12904	67	1	(	(	PUNCT
ajfa-12904	67	2	2009	2009	NUM
ajfa-12904	67	3	)	)	PUNCT
ajfa-12904	67	4	find	find	VERB
ajfa-12904	67	5	that	that	SCONJ
ajfa-12904	67	6	managers	manager	NOUN
ajfa-12904	67	7	withhold	withhold	VERB
ajfa-12904	67	8	bad	bad	ADJ
ajfa-12904	67	9	news	news	NOUN
ajfa-12904	67	10	to	to	ADP
ajfa-12904	67	11	a	a	DET
ajfa-12904	67	12	certain	certain	ADJ
ajfa-12904	67	13	threshold	threshold	NOUN
ajfa-12904	67	14	,	,	PUNCT
ajfa-12904	67	15	but	but	CCONJ
ajfa-12904	67	16	disclosed	disclose	VERB
ajfa-12904	67	17	good	good	ADJ
ajfa-12904	67	18	news	news	PROPN
ajfa-12904	67	19	as	as	ADV
ajfa-12904	67	20	soon	soon	ADV
ajfa-12904	67	21	as	as	ADP
ajfa-12904	67	22	possible	possible	ADJ
ajfa-12904	67	23	.	.	PUNCT
ajfa-12904	68	1	while	while	SCONJ
ajfa-12904	68	2	their	their	PRON
ajfa-12904	68	3	intention	intention	NOUN
ajfa-12904	68	4	may	may	AUX
ajfa-12904	68	5	be	be	AUX
ajfa-12904	68	6	good	good	ADJ
ajfa-12904	68	7	(	(	PUNCT
ajfa-12904	68	8	i.e.	i.e.	X
ajfa-12904	68	9	to	to	PART
ajfa-12904	68	10	increase	increase	VERB
ajfa-12904	68	11	firm	firm	ADJ
ajfa-12904	68	12	’s	’s	PART
ajfa-12904	68	13	value	value	NOUN
ajfa-12904	68	14	)	)	PUNCT
ajfa-12904	68	15	,	,	PUNCT
ajfa-12904	68	16	earnings	earning	NOUN
ajfa-12904	68	17	smoothing	smoothing	NOUN
ajfa-12904	68	18	may	may	AUX
ajfa-12904	68	19	lead	lead	VERB
ajfa-12904	68	20	to	to	ADP
ajfa-12904	68	21	firm	firm	NOUN
ajfa-12904	68	22	’s	’s	PART
ajfa-12904	68	23	value	value	NOUN
ajfa-12904	68	24	being	be	AUX
ajfa-12904	68	25	destroyed	destroy	VERB
ajfa-12904	68	26	and	and	CCONJ
ajfa-12904	68	27	putting	put	VERB
ajfa-12904	68	28	firm	firm	NOUN
ajfa-12904	68	29	at	at	ADP
ajfa-12904	68	30	the	the	DET
ajfa-12904	68	31	risk	risk	NOUN
ajfa-12904	68	32	of	of	ADP
ajfa-12904	68	33	bankruptcy	bankruptcy	NOUN
ajfa-12904	68	34	,	,	PUNCT
ajfa-12904	68	35	especially	especially	ADV
ajfa-12904	68	36	when	when	SCONJ
ajfa-12904	68	37	the	the	DET
ajfa-12904	68	38	news	news	NOUN
ajfa-12904	68	39	is	be	AUX
ajfa-12904	68	40	particularly	particularly	ADV
ajfa-12904	68	41	bad	bad	ADJ
ajfa-12904	68	42	and	and	CCONJ
ajfa-12904	68	43	managers	manager	NOUN
ajfa-12904	68	44	can	can	AUX
ajfa-12904	68	45	not	not	PART
ajfa-12904	68	46	hoard	hoard	VERB
ajfa-12904	68	47	the	the	DET
ajfa-12904	68	48	news	news	NOUN
ajfa-12904	68	49	any	any	ADV
ajfa-12904	68	50	longer	long	ADV
ajfa-12904	68	51	.	.	PUNCT
ajfa-12904	69	1	using	use	VERB
ajfa-12904	69	2	firm	firm	ADJ
ajfa-12904	69	3	-	-	PUNCT
ajfa-12904	69	4	specific	specific	ADJ
ajfa-12904	69	5	stock	stock	NOUN
ajfa-12904	69	6	price	price	NOUN
ajfa-12904	69	7	crash	crash	NOUN
ajfa-12904	69	8	,	,	PUNCT
ajfa-12904	69	9	chen	chen	PROPN
ajfa-12904	69	10	et	et	PROPN
ajfa-12904	69	11	al	al	PROPN
ajfa-12904	69	12	.	.	PROPN
ajfa-12904	70	1	(	(	PUNCT
ajfa-12904	70	2	2017	2017	NUM
ajfa-12904	70	3	)	)	PUNCT
ajfa-12904	70	4	discover	discover	VERB
ajfa-12904	70	5	that	that	SCONJ
ajfa-12904	70	6	earnings	earning	NOUN
ajfa-12904	70	7	smoothing	smoothing	NOUN
ajfa-12904	70	8	can	can	AUX
ajfa-12904	70	9	lead	lead	VERB
ajfa-12904	70	10	to	to	ADP
ajfa-12904	70	11	abrupt	abrupt	ADJ
ajfa-12904	70	12	decline	decline	NOUN
ajfa-12904	70	13	in	in	ADP
ajfa-12904	70	14	stock	stock	NOUN
ajfa-12904	70	15	price	price	NOUN
ajfa-12904	70	16	,	,	PUNCT
ajfa-12904	70	17	due	due	ADP
ajfa-12904	70	18	to	to	ADP
ajfa-12904	70	19	managers	manager	NOUN
ajfa-12904	70	20	dumping	dump	VERB
ajfa-12904	70	21	all	all	DET
ajfa-12904	70	22	bad	bad	ADJ
ajfa-12904	70	23	news	news	NOUN
ajfa-12904	70	24	at	at	ADP
ajfa-12904	70	25	once	once	ADV
ajfa-12904	70	26	.	.	PUNCT
ajfa-12904	71	1	likewise	likewise	ADV
ajfa-12904	71	2	,	,	PUNCT
ajfa-12904	71	3	khurana	khurana	PROPN
ajfa-12904	71	4	et	et	PROPN
ajfa-12904	71	5	al	al	PROPN
ajfa-12904	71	6	.	.	PROPN
ajfa-12904	72	1	(	(	PUNCT
ajfa-12904	72	2	2017	2017	NUM
ajfa-12904	72	3	)	)	PUNCT
ajfa-12904	72	4	find	find	VERB
ajfa-12904	72	5	that	that	SCONJ
ajfa-12904	72	6	real	real	ADJ
ajfa-12904	72	7	earnings	earning	NOUN
ajfa-12904	72	8	smoothing	smoothing	NOUN
ajfa-12904	72	9	influences	influence	VERB
ajfa-12904	72	10	stock	stock	NOUN
ajfa-12904	72	11	price	price	NOUN
ajfa-12904	72	12	crash	crash	NOUN
ajfa-12904	72	13	risk	risk	NOUN
ajfa-12904	72	14	since	since	SCONJ
ajfa-12904	72	15	real	real	ADJ
ajfa-12904	72	16	earnings	earning	NOUN
ajfa-12904	72	17	smoothing	smoothing	NOUN
ajfa-12904	72	18	facilitates	facilitate	VERB
ajfa-12904	72	19	bad	bad	ADJ
ajfa-12904	72	20	news	news	NOUN
ajfa-12904	72	21	hoarding	hoarding	NOUN
ajfa-12904	72	22	,	,	PUNCT
ajfa-12904	72	23	allows	allow	VERB
ajfa-12904	72	24	poor	poor	ADV
ajfa-12904	72	25	-	-	PUNCT
ajfa-12904	72	26	performing	perform	VERB
ajfa-12904	72	27	projects	project	NOUN
ajfa-12904	72	28	to	to	PART
ajfa-12904	72	29	continue	continue	VERB
ajfa-12904	72	30	,	,	PUNCT
ajfa-12904	72	31	conceal	conceal	VERB
ajfa-12904	72	32	resource	resource	NOUN
ajfa-12904	72	33	diversion	diversion	NOUN
ajfa-12904	72	34	,	,	PUNCT
ajfa-12904	72	35	and	and	CCONJ
ajfa-12904	72	36	enables	enable	VERB
ajfa-12904	72	37	ineffective	ineffective	ADJ
ajfa-12904	72	38	risk	risk	NOUN
ajfa-12904	72	39	management	management	NOUN
ajfa-12904	72	40	for	for	ADP
ajfa-12904	72	41	extended	extended	ADJ
ajfa-12904	72	42	periods	period	NOUN
ajfa-12904	72	43	.	.	PUNCT
ajfa-12904	73	1	based	base	VERB
ajfa-12904	73	2	on	on	ADP
ajfa-12904	73	3	the	the	DET
ajfa-12904	73	4	discussion	discussion	NOUN
ajfa-12904	73	5	above	above	ADV
ajfa-12904	73	6	,	,	PUNCT
ajfa-12904	73	7	it	it	PRON
ajfa-12904	73	8	is	be	AUX
ajfa-12904	73	9	clear	clear	ADJ
ajfa-12904	73	10	that	that	SCONJ
ajfa-12904	73	11	earnings	earning	NOUN
ajfa-12904	73	12	smoothing	smoothing	NOUN
ajfa-12904	73	13	,	,	PUNCT
ajfa-12904	73	14	either	either	CCONJ
ajfa-12904	73	15	artificial	artificial	ADJ
ajfa-12904	73	16	or	or	CCONJ
ajfa-12904	73	17	real	real	ADJ
ajfa-12904	73	18	,	,	PUNCT
ajfa-12904	73	19	is	be	AUX
ajfa-12904	73	20	related	relate	VERB
ajfa-12904	73	21	to	to	ADP
ajfa-12904	73	22	the	the	DET
ajfa-12904	73	23	firm	firm	NOUN
ajfa-12904	73	24	’s	’s	PART
ajfa-12904	73	25	value	value	NOUN
ajfa-12904	73	26	being	be	AUX
ajfa-12904	73	27	destroyed	destroy	VERB
ajfa-12904	73	28	.	.	PUNCT
ajfa-12904	74	1	while	while	SCONJ
ajfa-12904	74	2	the	the	DET
ajfa-12904	74	3	evidence	evidence	NOUN
ajfa-12904	74	4	on	on	ADP
ajfa-12904	74	5	the	the	DET
ajfa-12904	74	6	association	association	NOUN
ajfa-12904	74	7	between	between	ADP
ajfa-12904	74	8	earnings	earning	NOUN
ajfa-12904	74	9	smoothing	smoothing	NOUN
ajfa-12904	74	10	and	and	CCONJ
ajfa-12904	74	11	destroyed	destroy	VERB
ajfa-12904	74	12	firm	firm	NOUN
ajfa-12904	74	13	’s	’s	PART
ajfa-12904	74	14	value	value	NOUN
ajfa-12904	74	15	for	for	ADP
ajfa-12904	74	16	public	public	ADJ
ajfa-12904	74	17	firms	firm	NOUN
ajfa-12904	74	18	may	may	AUX
ajfa-12904	74	19	be	be	AUX
ajfa-12904	74	20	examined	examine	VERB
ajfa-12904	74	21	through	through	ADP
ajfa-12904	74	22	asian	asian	ADJ
ajfa-12904	74	23	journal	journal	NOUN
ajfa-12904	74	24	of	of	ADP
ajfa-12904	74	25	finance	finance	PROPN
ajfa-12904	74	26	&	&	CCONJ
ajfa-12904	74	27	accounting	accounting	PROPN
ajfa-12904	74	28	issn	issn	PROPN
ajfa-12904	74	29	1946	1946	NUM
ajfa-12904	74	30	-	-	PUNCT
ajfa-12904	74	31	052x	052x	NOUN
ajfa-12904	74	32	2018	2018	NUM
ajfa-12904	74	33	,	,	PUNCT
ajfa-12904	74	34	vol	vol	NOUN
ajfa-12904	74	35	.	.	PROPN
ajfa-12904	75	1	10	10	NUM
ajfa-12904	75	2	,	,	PUNCT
ajfa-12904	75	3	no	no	INTJ
ajfa-12904	75	4	.	.	NOUN
ajfa-12904	75	5	1	1	NUM
ajfa-12904	75	6	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-12904	75	7	166	166	NUM
ajfa-12904	75	8	stock	stock	NOUN
ajfa-12904	75	9	price	price	NOUN
ajfa-12904	75	10	crash	crash	NOUN
ajfa-12904	75	11	risk	risk	NOUN
ajfa-12904	75	12	,	,	PUNCT
ajfa-12904	75	13	it	it	PRON
ajfa-12904	75	14	is	be	AUX
ajfa-12904	75	15	impossible	impossible	ADJ
ajfa-12904	75	16	to	to	PART
ajfa-12904	75	17	do	do	VERB
ajfa-12904	75	18	the	the	DET
ajfa-12904	75	19	same	same	ADJ
ajfa-12904	75	20	with	with	ADP
ajfa-12904	75	21	private	private	ADJ
ajfa-12904	75	22	firms	firm	NOUN
ajfa-12904	75	23	since	since	SCONJ
ajfa-12904	75	24	private	private	ADJ
ajfa-12904	75	25	firms	firm	NOUN
ajfa-12904	75	26	do	do	AUX
ajfa-12904	75	27	not	not	PART
ajfa-12904	75	28	have	have	VERB
ajfa-12904	75	29	stock	stock	NOUN
ajfa-12904	75	30	price	price	NOUN
ajfa-12904	75	31	information	information	NOUN
ajfa-12904	75	32	.	.	PUNCT
ajfa-12904	76	1	alternatively	alternatively	ADV
ajfa-12904	76	2	,	,	PUNCT
ajfa-12904	76	3	the	the	DET
ajfa-12904	76	4	effect	effect	NOUN
ajfa-12904	76	5	of	of	ADP
ajfa-12904	76	6	earnings	earning	NOUN
ajfa-12904	76	7	smoothing	smooth	VERB
ajfa-12904	76	8	on	on	ADP
ajfa-12904	76	9	private	private	ADJ
ajfa-12904	76	10	firms	firm	NOUN
ajfa-12904	76	11	may	may	AUX
ajfa-12904	76	12	be	be	AUX
ajfa-12904	76	13	examined	examine	VERB
ajfa-12904	76	14	using	use	VERB
ajfa-12904	76	15	firm	firm	ADJ
ajfa-12904	76	16	-	-	PUNCT
ajfa-12904	76	17	specific	specific	ADJ
ajfa-12904	76	18	bankruptcy	bankruptcy	NOUN
ajfa-12904	76	19	risk	risk	NOUN
ajfa-12904	76	20	.	.	PUNCT
ajfa-12904	77	1	2.2	2.2	NUM
ajfa-12904	77	2	earnings	earning	NOUN
ajfa-12904	77	3	smoothing	smooth	VERB
ajfa-12904	77	4	behaviour	behaviour	NOUN
ajfa-12904	77	5	in	in	ADP
ajfa-12904	77	6	private	private	ADJ
ajfa-12904	77	7	firms	firm	NOUN
ajfa-12904	77	8	research	research	VERB
ajfa-12904	77	9	on	on	ADP
ajfa-12904	77	10	earnings	earning	NOUN
ajfa-12904	77	11	management	management	NOUN
ajfa-12904	77	12	behaviour	behaviour	NOUN
ajfa-12904	77	13	in	in	ADP
ajfa-12904	77	14	private	private	ADJ
ajfa-12904	77	15	firms	firm	NOUN
ajfa-12904	77	16	finds	find	VERB
ajfa-12904	77	17	that	that	SCONJ
ajfa-12904	77	18	private	private	ADJ
ajfa-12904	77	19	firms	firm	NOUN
ajfa-12904	77	20	report	report	VERB
ajfa-12904	77	21	lower	low	ADJ
ajfa-12904	77	22	earnings	earning	NOUN
ajfa-12904	77	23	quality	quality	NOUN
ajfa-12904	77	24	as	as	ADV
ajfa-12904	77	25	well	well	ADV
ajfa-12904	77	26	as	as	ADP
ajfa-12904	77	27	higher	high	ADJ
ajfa-12904	77	28	earnings	earning	NOUN
ajfa-12904	77	29	management	management	NOUN
ajfa-12904	77	30	,	,	PUNCT
ajfa-12904	77	31	as	as	SCONJ
ajfa-12904	77	32	compared	compare	VERB
ajfa-12904	77	33	to	to	ADP
ajfa-12904	77	34	their	their	PRON
ajfa-12904	77	35	public	public	ADJ
ajfa-12904	77	36	firms	firm	NOUN
ajfa-12904	77	37	’	'	PUNCT
ajfa-12904	77	38	counterpart	counterpart	NOUN
ajfa-12904	77	39	,	,	PUNCT
ajfa-12904	77	40	(	(	PUNCT
ajfa-12904	77	41	e.g.	e.g.	ADV
ajfa-12904	77	42	ball	ball	NOUN
ajfa-12904	77	43	&	&	CCONJ
ajfa-12904	77	44	shivakumar	shivakumar	PROPN
ajfa-12904	77	45	2005	2005	NUM
ajfa-12904	77	46	;	;	PUNCT
ajfa-12904	78	1	burgstahler	burgstahler	NOUN
ajfa-12904	78	2	et	et	PROPN
ajfa-12904	78	3	al	al	PROPN
ajfa-12904	78	4	.	.	PROPN
ajfa-12904	78	5	2006	2006	NUM
ajfa-12904	78	6	;	;	PUNCT
ajfa-12904	78	7	coppens	coppen	NOUN
ajfa-12904	78	8	&	&	CCONJ
ajfa-12904	78	9	peek	peek	NOUN
ajfa-12904	78	10	2005	2005	NUM
ajfa-12904	78	11	)	)	PUNCT
ajfa-12904	78	12	due	due	ADP
ajfa-12904	78	13	to	to	ADP
ajfa-12904	78	14	the	the	DET
ajfa-12904	78	15	absence	absence	NOUN
ajfa-12904	78	16	of	of	ADP
ajfa-12904	78	17	capital	capital	NOUN
ajfa-12904	78	18	market	market	NOUN
ajfa-12904	78	19	pressure	pressure	NOUN
ajfa-12904	78	20	.	.	PUNCT
ajfa-12904	79	1	ball	ball	NOUN
ajfa-12904	79	2	and	and	CCONJ
ajfa-12904	79	3	shivakumar	shivakumar	PROPN
ajfa-12904	79	4	(	(	PUNCT
ajfa-12904	79	5	2005	2005	NUM
ajfa-12904	79	6	)	)	PUNCT
ajfa-12904	79	7	find	find	VERB
ajfa-12904	79	8	that	that	SCONJ
ajfa-12904	79	9	private	private	ADJ
ajfa-12904	79	10	firms	firm	NOUN
ajfa-12904	79	11	in	in	ADP
ajfa-12904	79	12	the	the	DET
ajfa-12904	79	13	uk	uk	PROPN
ajfa-12904	79	14	report	report	VERB
ajfa-12904	79	15	less	less	ADV
ajfa-12904	79	16	timely	timely	ADJ
ajfa-12904	79	17	earnings	earning	NOUN
ajfa-12904	79	18	and	and	CCONJ
ajfa-12904	79	19	they	they	PRON
ajfa-12904	79	20	suggest	suggest	VERB
ajfa-12904	79	21	this	this	DET
ajfa-12904	79	22	finding	finding	NOUN
ajfa-12904	79	23	indicates	indicate	VERB
ajfa-12904	79	24	that	that	SCONJ
ajfa-12904	79	25	creditors	creditor	NOUN
ajfa-12904	79	26	of	of	ADP
ajfa-12904	79	27	private	private	ADJ
ajfa-12904	79	28	firms	firm	NOUN
ajfa-12904	79	29	might	might	AUX
ajfa-12904	79	30	be	be	AUX
ajfa-12904	79	31	using	use	VERB
ajfa-12904	79	32	alternative	alternative	ADJ
ajfa-12904	79	33	source	source	NOUN
ajfa-12904	79	34	of	of	ADP
ajfa-12904	79	35	information	information	NOUN
ajfa-12904	79	36	,	,	PUNCT
ajfa-12904	79	37	instead	instead	ADV
ajfa-12904	79	38	of	of	ADP
ajfa-12904	79	39	earnings	earning	NOUN
ajfa-12904	79	40	information	information	NOUN
ajfa-12904	79	41	,	,	PUNCT
ajfa-12904	79	42	to	to	PART
ajfa-12904	79	43	assess	assess	VERB
ajfa-12904	79	44	the	the	DET
ajfa-12904	79	45	private	private	ADJ
ajfa-12904	79	46	firms	firm	NOUN
ajfa-12904	79	47	’	’	PART
ajfa-12904	79	48	business	business	NOUN
ajfa-12904	79	49	stability	stability	NOUN
ajfa-12904	79	50	and	and	CCONJ
ajfa-12904	79	51	ability	ability	NOUN
ajfa-12904	79	52	to	to	PART
ajfa-12904	79	53	repay	repay	VERB
ajfa-12904	79	54	loan	loan	NOUN
ajfa-12904	79	55	.	.	PUNCT
ajfa-12904	80	1	nonetheless	nonetheless	ADV
ajfa-12904	80	2	,	,	PUNCT
ajfa-12904	80	3	hope	hope	VERB
ajfa-12904	80	4	et	et	PROPN
ajfa-12904	80	5	al	al	PROPN
ajfa-12904	80	6	.	.	PROPN
ajfa-12904	81	1	(	(	PUNCT
ajfa-12904	81	2	2011	2011	NUM
ajfa-12904	81	3	)	)	PUNCT
ajfa-12904	81	4	find	find	VERB
ajfa-12904	81	5	that	that	SCONJ
ajfa-12904	81	6	private	private	ADJ
ajfa-12904	81	7	firms	firm	NOUN
ajfa-12904	81	8	with	with	ADP
ajfa-12904	81	9	audited	audit	VERB
ajfa-12904	81	10	financial	financial	ADJ
ajfa-12904	81	11	statement	statement	NOUN
ajfa-12904	81	12	experience	experience	NOUN
ajfa-12904	81	13	significantly	significantly	ADV
ajfa-12904	81	14	lower	low	ADJ
ajfa-12904	81	15	financial	financial	ADJ
ajfa-12904	81	16	constraint	constraint	NOUN
ajfa-12904	81	17	in	in	ADP
ajfa-12904	81	18	accessing	access	VERB
ajfa-12904	81	19	credit	credit	NOUN
ajfa-12904	81	20	.	.	PUNCT
ajfa-12904	82	1	this	this	DET
ajfa-12904	82	2	finding	finding	NOUN
ajfa-12904	82	3	implies	imply	VERB
ajfa-12904	82	4	that	that	SCONJ
ajfa-12904	82	5	creditors	creditor	NOUN
ajfa-12904	82	6	of	of	ADP
ajfa-12904	82	7	private	private	ADJ
ajfa-12904	82	8	firms	firm	NOUN
ajfa-12904	82	9	use	use	VERB
ajfa-12904	82	10	financial	financial	ADJ
ajfa-12904	82	11	reports	report	NOUN
ajfa-12904	82	12	in	in	ADP
ajfa-12904	82	13	their	their	PRON
ajfa-12904	82	14	loan	loan	NOUN
ajfa-12904	82	15	decision	decision	NOUN
ajfa-12904	82	16	process	process	NOUN
ajfa-12904	82	17	.	.	PUNCT
ajfa-12904	83	1	in	in	ADP
ajfa-12904	83	2	addition	addition	NOUN
ajfa-12904	83	3	,	,	PUNCT
ajfa-12904	83	4	gassen	gassen	NOUN
ajfa-12904	83	5	and	and	CCONJ
ajfa-12904	83	6	fulbier	fulbi	ADJ
ajfa-12904	83	7	(	(	PUNCT
ajfa-12904	83	8	2015	2015	NUM
ajfa-12904	83	9	)	)	PUNCT
ajfa-12904	83	10	find	find	VERB
ajfa-12904	83	11	that	that	SCONJ
ajfa-12904	83	12	creditors	creditor	NOUN
ajfa-12904	83	13	of	of	ADP
ajfa-12904	83	14	private	private	ADJ
ajfa-12904	83	15	firms	firm	NOUN
ajfa-12904	83	16	demand	demand	VERB
ajfa-12904	83	17	smooth	smooth	ADJ
ajfa-12904	83	18	earnings	earning	NOUN
ajfa-12904	83	19	and	and	CCONJ
ajfa-12904	83	20	that	that	SCONJ
ajfa-12904	83	21	firms	firm	NOUN
ajfa-12904	83	22	with	with	ADP
ajfa-12904	83	23	smoother	smooth	ADJ
ajfa-12904	83	24	earnings	earning	NOUN
ajfa-12904	83	25	receive	receive	VERB
ajfa-12904	83	26	lower	low	ADJ
ajfa-12904	83	27	interest	interest	NOUN
ajfa-12904	83	28	rate	rate	NOUN
ajfa-12904	83	29	for	for	ADP
ajfa-12904	83	30	their	their	PRON
ajfa-12904	83	31	loan	loan	NOUN
ajfa-12904	83	32	.	.	PUNCT
ajfa-12904	84	1	while	while	SCONJ
ajfa-12904	84	2	earnings	earning	NOUN
ajfa-12904	84	3	smoothing	smoothing	NOUN
ajfa-12904	84	4	is	be	AUX
ajfa-12904	84	5	beneficial	beneficial	ADJ
ajfa-12904	84	6	to	to	ADP
ajfa-12904	84	7	private	private	ADJ
ajfa-12904	84	8	firms	firm	NOUN
ajfa-12904	84	9	(	(	PUNCT
ajfa-12904	84	10	i.e.	i.e.	X
ajfa-12904	84	11	they	they	PRON
ajfa-12904	84	12	receive	receive	VERB
ajfa-12904	84	13	lower	low	ADJ
ajfa-12904	84	14	interest	interest	NOUN
ajfa-12904	84	15	rate	rate	NOUN
ajfa-12904	84	16	)	)	PUNCT
ajfa-12904	84	17	,	,	PUNCT
ajfa-12904	84	18	it	it	PRON
ajfa-12904	84	19	is	be	AUX
ajfa-12904	84	20	argued	argue	VERB
ajfa-12904	84	21	that	that	SCONJ
ajfa-12904	84	22	earnings	earning	NOUN
ajfa-12904	84	23	smoothing	smoothing	NOUN
ajfa-12904	84	24	poses	pose	VERB
ajfa-12904	84	25	a	a	DET
ajfa-12904	84	26	higher	high	ADJ
ajfa-12904	84	27	threat	threat	NOUN
ajfa-12904	84	28	to	to	ADP
ajfa-12904	84	29	private	private	ADJ
ajfa-12904	84	30	firm	firm	NOUN
ajfa-12904	84	31	’s	’s	PART
ajfa-12904	84	32	sustainability	sustainability	NOUN
ajfa-12904	84	33	,	,	PUNCT
ajfa-12904	84	34	especially	especially	ADV
ajfa-12904	84	35	when	when	SCONJ
ajfa-12904	84	36	firms	firm	NOUN
ajfa-12904	84	37	can	can	AUX
ajfa-12904	84	38	no	no	ADV
ajfa-12904	84	39	longer	long	ADV
ajfa-12904	84	40	hoard	hoard	VERB
ajfa-12904	84	41	bad	bad	ADJ
ajfa-12904	84	42	news	news	NOUN
ajfa-12904	84	43	.	.	PUNCT
ajfa-12904	85	1	when	when	SCONJ
ajfa-12904	85	2	bad	bad	ADJ
ajfa-12904	85	3	news	news	NOUN
ajfa-12904	85	4	ruptured	rupture	VERB
ajfa-12904	85	5	,	,	PUNCT
ajfa-12904	85	6	private	private	ADJ
ajfa-12904	85	7	firms	firm	NOUN
ajfa-12904	85	8	are	be	AUX
ajfa-12904	85	9	exposed	expose	VERB
ajfa-12904	85	10	to	to	ADP
ajfa-12904	85	11	the	the	DET
ajfa-12904	85	12	risk	risk	NOUN
ajfa-12904	85	13	of	of	ADP
ajfa-12904	85	14	breaching	breach	VERB
ajfa-12904	85	15	debt	debt	NOUN
ajfa-12904	85	16	covenants	covenant	NOUN
ajfa-12904	85	17	,	,	PUNCT
ajfa-12904	85	18	which	which	PRON
ajfa-12904	85	19	could	could	AUX
ajfa-12904	85	20	lead	lead	VERB
ajfa-12904	85	21	to	to	ADP
ajfa-12904	85	22	increased	increase	VERB
ajfa-12904	85	23	bankruptcy	bankruptcy	NOUN
ajfa-12904	85	24	risk	risk	NOUN
ajfa-12904	85	25	.	.	PUNCT
ajfa-12904	86	1	violation	violation	NOUN
ajfa-12904	86	2	of	of	ADP
ajfa-12904	86	3	debt	debt	NOUN
ajfa-12904	86	4	covenants	covenant	NOUN
ajfa-12904	86	5	resulted	result	VERB
ajfa-12904	86	6	in	in	ADP
ajfa-12904	86	7	control	control	NOUN
ajfa-12904	86	8	rights	right	NOUN
ajfa-12904	86	9	of	of	ADP
ajfa-12904	86	10	management	management	NOUN
ajfa-12904	86	11	reverting	revert	VERB
ajfa-12904	86	12	to	to	ADP
ajfa-12904	86	13	creditors	creditor	NOUN
ajfa-12904	86	14	,	,	PUNCT
ajfa-12904	86	15	providing	provide	VERB
ajfa-12904	86	16	creditors	creditor	NOUN
ajfa-12904	86	17	the	the	DET
ajfa-12904	86	18	opportunity	opportunity	NOUN
ajfa-12904	86	19	to	to	PART
ajfa-12904	86	20	take	take	VERB
ajfa-12904	86	21	action	action	NOUN
ajfa-12904	86	22	(	(	PUNCT
ajfa-12904	86	23	e.g.	e.g.	ADV
ajfa-12904	86	24	renegotiation	renegotiation	NOUN
ajfa-12904	86	25	,	,	PUNCT
ajfa-12904	86	26	winding	wind	VERB
ajfa-12904	86	27	up	up	ADP
ajfa-12904	86	28	petition	petition	NOUN
ajfa-12904	86	29	)	)	PUNCT
ajfa-12904	86	30	to	to	PART
ajfa-12904	86	31	protect	protect	VERB
ajfa-12904	86	32	the	the	DET
ajfa-12904	86	33	value	value	NOUN
ajfa-12904	86	34	of	of	ADP
ajfa-12904	86	35	their	their	PRON
ajfa-12904	86	36	claim	claim	NOUN
ajfa-12904	86	37	(	(	PUNCT
ajfa-12904	86	38	aghion	aghion	NOUN
ajfa-12904	86	39	&	&	CCONJ
ajfa-12904	86	40	bolton	bolton	PROPN
ajfa-12904	86	41	,	,	PUNCT
ajfa-12904	86	42	1992	1992	NUM
ajfa-12904	86	43	)	)	PUNCT
ajfa-12904	86	44	.	.	PUNCT
ajfa-12904	87	1	hence	hence	ADV
ajfa-12904	87	2	,	,	PUNCT
ajfa-12904	87	3	prior	prior	ADJ
ajfa-12904	87	4	research	research	NOUN
ajfa-12904	87	5	find	find	VERB
ajfa-12904	87	6	that	that	SCONJ
ajfa-12904	87	7	firms	firm	NOUN
ajfa-12904	87	8	that	that	PRON
ajfa-12904	87	9	are	be	AUX
ajfa-12904	87	10	in	in	ADP
ajfa-12904	87	11	distressed	distressed	ADJ
ajfa-12904	87	12	,	,	PUNCT
ajfa-12904	87	13	or	or	CCONJ
ajfa-12904	87	14	closer	close	ADJ
ajfa-12904	87	15	to	to	ADP
ajfa-12904	87	16	the	the	DET
ajfa-12904	87	17	violation	violation	NOUN
ajfa-12904	87	18	of	of	ADP
ajfa-12904	87	19	debt	debt	NOUN
ajfa-12904	87	20	covenants	covenant	NOUN
ajfa-12904	87	21	have	have	VERB
ajfa-12904	87	22	more	more	ADJ
ajfa-12904	87	23	incentives	incentive	NOUN
ajfa-12904	87	24	to	to	PART
ajfa-12904	87	25	manage	manage	VERB
ajfa-12904	87	26	their	their	PRON
ajfa-12904	87	27	earnings	earning	NOUN
ajfa-12904	87	28	(	(	PUNCT
ajfa-12904	87	29	franz	franz	PROPN
ajfa-12904	87	30	,	,	PUNCT
ajfa-12904	87	31	hassabelnaby	hassabelnaby	X
ajfa-12904	87	32	,	,	PUNCT
ajfa-12904	87	33	&	&	CCONJ
ajfa-12904	87	34	lobo	lobo	PROPN
ajfa-12904	87	35	,	,	PUNCT
ajfa-12904	87	36	2014	2014	NUM
ajfa-12904	87	37	;	;	PUNCT
ajfa-12904	87	38	saleh	saleh	PROPN
ajfa-12904	87	39	&	&	CCONJ
ajfa-12904	87	40	ahmed	ahmed	PROPN
ajfa-12904	87	41	,	,	PUNCT
ajfa-12904	87	42	2005	2005	NUM
ajfa-12904	87	43	;	;	PUNCT
ajfa-12904	87	44	sweeney	sweeney	NOUN
ajfa-12904	87	45	,	,	PUNCT
ajfa-12904	87	46	1994	1994	NUM
ajfa-12904	87	47	)	)	PUNCT
ajfa-12904	87	48	.	.	PUNCT
ajfa-12904	88	1	based	base	VERB
ajfa-12904	88	2	on	on	ADP
ajfa-12904	88	3	the	the	DET
ajfa-12904	88	4	discussion	discussion	NOUN
ajfa-12904	88	5	above	above	ADV
ajfa-12904	88	6	,	,	PUNCT
ajfa-12904	88	7	it	it	PRON
ajfa-12904	88	8	is	be	AUX
ajfa-12904	88	9	hypothesized	hypothesize	VERB
ajfa-12904	88	10	that	that	SCONJ
ajfa-12904	88	11	:	:	PUNCT
ajfa-12904	88	12	h1	h1	NOUN
ajfa-12904	88	13	:	:	PUNCT
ajfa-12904	88	14	earnings	earning	NOUN
ajfa-12904	88	15	smoothing	smoothing	NOUN
ajfa-12904	88	16	is	be	AUX
ajfa-12904	88	17	associated	associate	VERB
ajfa-12904	88	18	with	with	ADP
ajfa-12904	88	19	bankruptcy	bankruptcy	NOUN
ajfa-12904	88	20	risk	risk	NOUN
ajfa-12904	88	21	in	in	ADP
ajfa-12904	88	22	private	private	ADJ
ajfa-12904	88	23	firms	firm	NOUN
ajfa-12904	88	24	,	,	PUNCT
ajfa-12904	88	25	ceteris	ceteris	NOUN
ajfa-12904	88	26	paribus	paribus	NOUN
ajfa-12904	88	27	.	.	PUNCT
ajfa-12904	89	1	h2	h2	NOUN
ajfa-12904	89	2	:	:	PUNCT
ajfa-12904	89	3	private	private	ADJ
ajfa-12904	89	4	firms	firm	NOUN
ajfa-12904	89	5	engage	engage	VERB
ajfa-12904	89	6	more	more	ADJ
ajfa-12904	89	7	earnings	earning	NOUN
ajfa-12904	89	8	smoothing	smoothing	NOUN
ajfa-12904	89	9	as	as	SCONJ
ajfa-12904	89	10	they	they	PRON
ajfa-12904	89	11	are	be	AUX
ajfa-12904	89	12	getting	get	VERB
ajfa-12904	89	13	more	more	ADV
ajfa-12904	89	14	distressed	distressed	ADJ
ajfa-12904	89	15	,	,	PUNCT
ajfa-12904	89	16	ceteris	ceteris	NOUN
ajfa-12904	89	17	paribus	paribus	NOUN
ajfa-12904	89	18	.	.	PUNCT
ajfa-12904	90	1	3	3	X
ajfa-12904	90	2	.	.	X
ajfa-12904	90	3	data	datum	NOUN
ajfa-12904	90	4	and	and	CCONJ
ajfa-12904	90	5	research	research	NOUN
ajfa-12904	90	6	design	design	VERB
ajfa-12904	90	7	the	the	DET
ajfa-12904	90	8	data	datum	NOUN
ajfa-12904	90	9	for	for	ADP
ajfa-12904	90	10	this	this	DET
ajfa-12904	90	11	study	study	NOUN
ajfa-12904	90	12	is	be	AUX
ajfa-12904	90	13	collected	collect	VERB
ajfa-12904	90	14	from	from	ADP
ajfa-12904	90	15	financial	financial	ADJ
ajfa-12904	90	16	analysis	analysis	NOUN
ajfa-12904	90	17	made	make	VERB
ajfa-12904	90	18	easy	easy	ADJ
ajfa-12904	90	19	(	(	PUNCT
ajfa-12904	90	20	fame	fame	NOUN
ajfa-12904	90	21	)	)	PUNCT
ajfa-12904	90	22	database	database	NOUN
ajfa-12904	90	23	.	.	PUNCT
ajfa-12904	91	1	the	the	DET
ajfa-12904	91	2	initial	initial	ADJ
ajfa-12904	91	3	data	datum	NOUN
ajfa-12904	91	4	selection	selection	NOUN
ajfa-12904	91	5	process	process	NOUN
ajfa-12904	91	6	acquires	acquire	VERB
ajfa-12904	91	7	financial	financial	ADJ
ajfa-12904	91	8	data	datum	NOUN
ajfa-12904	91	9	from	from	ADP
ajfa-12904	91	10	3,962	3,962	NUM
ajfa-12904	91	11	private	private	ADJ
ajfa-12904	91	12	firms	firm	NOUN
ajfa-12904	91	13	in	in	ADP
ajfa-12904	91	14	uk	uk	PROPN
ajfa-12904	91	15	which	which	PRON
ajfa-12904	91	16	were	be	AUX
ajfa-12904	91	17	in	in	ADP
ajfa-12904	91	18	liquidation	liquidation	NOUN
ajfa-12904	91	19	process	process	NOUN
ajfa-12904	91	20	during	during	ADP
ajfa-12904	91	21	2012	2012	NUM
ajfa-12904	91	22	-	-	SYM
ajfa-12904	91	23	2017	2017	NUM
ajfa-12904	91	24	.	.	PUNCT
ajfa-12904	92	1	among	among	ADP
ajfa-12904	92	2	these	these	DET
ajfa-12904	92	3	firms	firm	NOUN
ajfa-12904	92	4	,	,	PUNCT
ajfa-12904	92	5	802	802	NUM
ajfa-12904	92	6	firms	firm	NOUN
ajfa-12904	92	7	have	have	VERB
ajfa-12904	92	8	to	to	PART
ajfa-12904	92	9	be	be	AUX
ajfa-12904	92	10	removed	remove	VERB
ajfa-12904	92	11	because	because	SCONJ
ajfa-12904	92	12	they	they	PRON
ajfa-12904	92	13	their	their	PRON
ajfa-12904	92	14	last	last	ADJ
ajfa-12904	92	15	account	account	NOUN
ajfa-12904	92	16	data	datum	NOUN
ajfa-12904	92	17	were	be	AUX
ajfa-12904	92	18	prior	prior	ADV
ajfa-12904	92	19	to	to	ADP
ajfa-12904	92	20	2012	2012	NUM
ajfa-12904	92	21	.	.	PUNCT
ajfa-12904	93	1	year	year	NOUN
ajfa-12904	93	2	2012	2012	NUM
ajfa-12904	93	3	has	have	AUX
ajfa-12904	93	4	been	be	AUX
ajfa-12904	93	5	chosen	choose	VERB
ajfa-12904	93	6	as	as	ADP
ajfa-12904	93	7	the	the	DET
ajfa-12904	93	8	cut	cut	VERB
ajfa-12904	93	9	-	-	PUNCT
ajfa-12904	93	10	off	off	ADP
ajfa-12904	93	11	date	date	NOUN
ajfa-12904	93	12	because	because	SCONJ
ajfa-12904	93	13	the	the	DET
ajfa-12904	93	14	main	main	ADJ
ajfa-12904	93	15	variable	variable	NOUN
ajfa-12904	93	16	,	,	PUNCT
ajfa-12904	93	17	smooth	smooth	ADJ
ajfa-12904	93	18	,	,	PUNCT
ajfa-12904	93	19	requires	require	VERB
ajfa-12904	93	20	at	at	ADV
ajfa-12904	93	21	least	least	ADV
ajfa-12904	93	22	three	three	NUM
ajfa-12904	93	23	years	year	NOUN
ajfa-12904	93	24	financial	financial	ADJ
ajfa-12904	93	25	data	datum	NOUN
ajfa-12904	93	26	prior	prior	ADV
ajfa-12904	93	27	to	to	ADP
ajfa-12904	93	28	the	the	DET
ajfa-12904	93	29	announcement	announcement	NOUN
ajfa-12904	93	30	date	date	NOUN
ajfa-12904	93	31	,	,	PUNCT
ajfa-12904	93	32	and	and	CCONJ
ajfa-12904	93	33	to	to	PART
ajfa-12904	93	34	make	make	VERB
ajfa-12904	93	35	sure	sure	ADJ
ajfa-12904	93	36	that	that	SCONJ
ajfa-12904	93	37	the	the	DET
ajfa-12904	93	38	financial	financial	ADJ
ajfa-12904	93	39	crisis	crisis	NOUN
ajfa-12904	93	40	in	in	ADP
ajfa-12904	93	41	2008	2008	NUM
ajfa-12904	93	42	does	do	AUX
ajfa-12904	93	43	not	not	PART
ajfa-12904	93	44	affect	affect	VERB
ajfa-12904	93	45	the	the	DET
ajfa-12904	93	46	result	result	NOUN
ajfa-12904	93	47	of	of	ADP
ajfa-12904	93	48	this	this	DET
ajfa-12904	93	49	study	study	NOUN
ajfa-12904	93	50	.	.	PUNCT
ajfa-12904	94	1	after	after	ADP
ajfa-12904	94	2	eliminating	eliminate	VERB
ajfa-12904	94	3	firms	firm	NOUN
ajfa-12904	94	4	with	with	ADP
ajfa-12904	94	5	missing	miss	VERB
ajfa-12904	94	6	data	datum	NOUN
ajfa-12904	94	7	,	,	PUNCT
ajfa-12904	94	8	the	the	DET
ajfa-12904	94	9	final	final	ADJ
ajfa-12904	94	10	sample	sample	NOUN
ajfa-12904	94	11	is	be	AUX
ajfa-12904	94	12	left	leave	VERB
ajfa-12904	94	13	with	with	ADP
ajfa-12904	94	14	372	372	NUM
ajfa-12904	94	15	firms	firm	NOUN
ajfa-12904	94	16	.	.	PUNCT
ajfa-12904	95	1	asian	asian	ADJ
ajfa-12904	95	2	journal	journal	PROPN
ajfa-12904	95	3	of	of	ADP
ajfa-12904	95	4	finance	finance	PROPN
ajfa-12904	95	5	&	&	CCONJ
ajfa-12904	95	6	accounting	accounting	PROPN
ajfa-12904	95	7	issn	issn	PROPN
ajfa-12904	95	8	1946	1946	NUM
ajfa-12904	95	9	-	-	PUNCT
ajfa-12904	95	10	052x	052x	NOUN
ajfa-12904	95	11	2018	2018	NUM
ajfa-12904	95	12	,	,	PUNCT
ajfa-12904	95	13	vol	vol	NOUN
ajfa-12904	95	14	.	.	PROPN
ajfa-12904	95	15	10	10	NUM
ajfa-12904	95	16	,	,	PUNCT
ajfa-12904	95	17	no	no	INTJ
ajfa-12904	95	18	.	.	NOUN
ajfa-12904	95	19	1	1	NUM
ajfa-12904	95	20	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-12904	95	21	167	167	NUM
ajfa-12904	95	22	3.1	3.1	NUM
ajfa-12904	95	23	research	research	NOUN
ajfa-12904	95	24	design	design	NOUN
ajfa-12904	95	25	following	follow	VERB
ajfa-12904	95	26	chen	chen	PROPN
ajfa-12904	95	27	et	et	PROPN
ajfa-12904	95	28	al	al	PROPN
ajfa-12904	95	29	.	.	PROPN
ajfa-12904	96	1	(	(	PUNCT
ajfa-12904	96	2	2017	2017	NUM
ajfa-12904	96	3	)	)	PUNCT
ajfa-12904	96	4	and	and	CCONJ
ajfa-12904	96	5	khurana	khurana	PROPN
ajfa-12904	96	6	et	et	PROPN
ajfa-12904	96	7	al	al	PROPN
ajfa-12904	96	8	.	.	PROPN
ajfa-12904	97	1	(	(	PUNCT
ajfa-12904	97	2	2017	2017	NUM
ajfa-12904	97	3	)	)	PUNCT
ajfa-12904	97	4	,	,	PUNCT
ajfa-12904	97	5	the	the	DET
ajfa-12904	97	6	model	model	NOUN
ajfa-12904	97	7	used	use	VERB
ajfa-12904	97	8	to	to	PART
ajfa-12904	97	9	test	test	VERB
ajfa-12904	97	10	h1	h1	NOUN
ajfa-12904	97	11	is	be	AUX
ajfa-12904	97	12	as	as	SCONJ
ajfa-12904	97	13	follows	follow	VERB
ajfa-12904	97	14	:	:	PUNCT
ajfa-12904	98	1	−	−	X
ajfa-12904	98	2	,	,	PUNCT
ajfa-12904	98	3	=	=	PUNCT
ajfa-12904	99	1	+	+	PUNCT
ajfa-12904	99	2	,	,	PUNCT
ajfa-12904	99	3	+	+	CCONJ
ajfa-12904	99	4	∑	∑	PROPN
ajfa-12904	99	5	∗	∗	NOUN
ajfa-12904	99	6	,	,	PUNCT
ajfa-12904	99	7	+	+	CCONJ
ajfa-12904	99	8	−	−	PROPN
ajfa-12904	100	1	+	+	CCONJ
ajfa-12904	100	2	,	,	PUNCT
ajfa-12904	100	3	(	(	PUNCT
ajfa-12904	100	4	1	1	X
ajfa-12904	100	5	)	)	PUNCT
ajfa-12904	100	6	the	the	DET
ajfa-12904	100	7	dependent	dependent	ADJ
ajfa-12904	100	8	variable	variable	ADJ
ajfa-12904	100	9	,	,	PUNCT
ajfa-12904	100	10	firm	firm	ADJ
ajfa-12904	100	11	-	-	PUNCT
ajfa-12904	100	12	specific	specific	ADJ
ajfa-12904	100	13	bankruptcy	bankruptcy	NOUN
ajfa-12904	100	14	risk	risk	NOUN
ajfa-12904	100	15	,	,	PUNCT
ajfa-12904	100	16	is	be	AUX
ajfa-12904	100	17	calculated	calculate	VERB
ajfa-12904	100	18	using	use	VERB
ajfa-12904	100	19	altman	altman	PROPN
ajfa-12904	100	20	(	(	PUNCT
ajfa-12904	100	21	1983	1983	NUM
ajfa-12904	100	22	)	)	PUNCT
ajfa-12904	100	23	z	z	NOUN
ajfa-12904	100	24	”	"	PUNCT
ajfa-12904	100	25	score	score	NOUN
ajfa-12904	100	26	model	model	NOUN
ajfa-12904	100	27	and	and	CCONJ
ajfa-12904	100	28	the	the	DET
ajfa-12904	100	29	term	term	NOUN
ajfa-12904	100	30	is	be	AUX
ajfa-12904	100	31	multiplied	multiply	VERB
ajfa-12904	100	32	by	by	ADP
ajfa-12904	100	33	minus	minus	CCONJ
ajfa-12904	100	34	one	one	NUM
ajfa-12904	100	35	so	so	SCONJ
ajfa-12904	100	36	that	that	SCONJ
ajfa-12904	100	37	larger	large	ADJ
ajfa-12904	100	38	values	value	NOUN
ajfa-12904	100	39	imply	imply	VERB
ajfa-12904	100	40	higher	high	ADJ
ajfa-12904	100	41	bankruptcy	bankruptcy	NOUN
ajfa-12904	100	42	risk	risk	NOUN
ajfa-12904	100	43	.	.	PUNCT
ajfa-12904	101	1	z	z	X
ajfa-12904	101	2	”	"	PUNCT
ajfa-12904	101	3	score	score	NOUN
ajfa-12904	101	4	=	=	NOUN
ajfa-12904	101	5	6.56*x1	6.56*x1	NOUN
ajfa-12904	102	1	+	+	CCONJ
ajfa-12904	102	2	3.26*x2	3.26*x2	NUM
ajfa-12904	102	3	+	+	CCONJ
ajfa-12904	102	4	6.72	6.72	NUM
ajfa-12904	102	5	*	*	PUNCT
ajfa-12904	102	6	x3	x3	ADJ
ajfa-12904	102	7	+	+	CCONJ
ajfa-12904	102	8	1.05	1.05	NUM
ajfa-12904	102	9	*	*	PUNCT
ajfa-12904	102	10	x4	x4	PROPN
ajfa-12904	102	11	(	(	PUNCT
ajfa-12904	102	12	2	2	NUM
ajfa-12904	102	13	)	)	PUNCT
ajfa-12904	102	14	where	where	SCONJ
ajfa-12904	102	15	:	:	PUNCT
ajfa-12904	102	16	x1	x1	PROPN
ajfa-12904	102	17	is	be	AUX
ajfa-12904	102	18	working	work	VERB
ajfa-12904	102	19	capital	capital	NOUN
ajfa-12904	102	20	scaled	scale	VERB
ajfa-12904	102	21	by	by	ADP
ajfa-12904	102	22	total	total	ADJ
ajfa-12904	102	23	assets	asset	NOUN
ajfa-12904	102	24	x2	x2	PRON
ajfa-12904	102	25	is	be	AUX
ajfa-12904	102	26	retained	retain	VERB
ajfa-12904	102	27	profit	profit	NOUN
ajfa-12904	102	28	scaled	scale	VERB
ajfa-12904	102	29	by	by	ADP
ajfa-12904	102	30	total	total	ADJ
ajfa-12904	102	31	assets	asset	NOUN
ajfa-12904	102	32	x3	x3	ADJ
ajfa-12904	102	33	is	be	AUX
ajfa-12904	102	34	ebit	ebit	NOUN
ajfa-12904	102	35	scaled	scale	VERB
ajfa-12904	102	36	by	by	ADP
ajfa-12904	102	37	total	total	ADJ
ajfa-12904	102	38	assets	asset	NOUN
ajfa-12904	102	39	x4	x4	PROPN
ajfa-12904	102	40	is	be	AUX
ajfa-12904	102	41	shareholders	shareholder	NOUN
ajfa-12904	102	42	’	'	PUNCT
ajfa-12904	102	43	equity	equity	NOUN
ajfa-12904	102	44	scaled	scale	VERB
ajfa-12904	102	45	by	by	ADP
ajfa-12904	102	46	total	total	ADJ
ajfa-12904	102	47	assets	asset	NOUN
ajfa-12904	102	48	the	the	DET
ajfa-12904	102	49	main	main	ADJ
ajfa-12904	102	50	variable	variable	NOUN
ajfa-12904	102	51	of	of	ADP
ajfa-12904	102	52	interest	interest	NOUN
ajfa-12904	102	53	,	,	PUNCT
ajfa-12904	102	54	smooth	smooth	ADJ
ajfa-12904	102	55	,	,	PUNCT
ajfa-12904	102	56	is	be	AUX
ajfa-12904	102	57	measured	measure	VERB
ajfa-12904	102	58	using	use	VERB
ajfa-12904	102	59	a	a	DET
ajfa-12904	102	60	model	model	NOUN
ajfa-12904	102	61	established	establish	VERB
ajfa-12904	102	62	by	by	ADP
ajfa-12904	102	63	gassen	gassen	PROPN
ajfa-12904	102	64	and	and	CCONJ
ajfa-12904	102	65	fulbier	fulbi	ADJ
ajfa-12904	102	66	(	(	PUNCT
ajfa-12904	102	67	2015	2015	NUM
ajfa-12904	102	68	)	)	PUNCT
ajfa-12904	102	69	as	as	SCONJ
ajfa-12904	102	70	follows	follow	VERB
ajfa-12904	102	71	:	:	PUNCT
ajfa-12904	102	72	=	=	PUNCT
ajfa-12904	103	1	_	_	PUNCT
ajfa-12904	103	2	_	_	PUNCT
ajfa-12904	104	1	/	/	PUNCT
ajfa-12904	105	1	_	_	PUNCT
ajfa-12904	105	2	_	_	PUNCT
ajfa-12904	105	3	(	(	PUNCT
ajfa-12904	105	4	3	3	X
ajfa-12904	105	5	)	)	PUNCT
ajfa-12904	105	6	where	where	SCONJ
ajfa-12904	105	7	:	:	PUNCT
ajfa-12904	105	8	std_net_income	std_net_income	NOUN
ajfa-12904	105	9	is	be	AUX
ajfa-12904	105	10	standard	standard	ADJ
ajfa-12904	105	11	deviation	deviation	NOUN
ajfa-12904	105	12	of	of	ADP
ajfa-12904	105	13	net	net	ADJ
ajfa-12904	105	14	income	income	NOUN
ajfa-12904	105	15	,	,	PUNCT
ajfa-12904	105	16	scaled	scale	VERB
ajfa-12904	105	17	by	by	ADP
ajfa-12904	105	18	lagged	lag	VERB
ajfa-12904	105	19	total	total	ADJ
ajfa-12904	105	20	assets	asset	NOUN
ajfa-12904	105	21	std_cash_flow	std_cash_flow	NOUN
ajfa-12904	105	22	is	be	AUX
ajfa-12904	105	23	standard	standard	ADJ
ajfa-12904	105	24	deviation	deviation	NOUN
ajfa-12904	105	25	of	of	ADP
ajfa-12904	105	26	cash	cash	NOUN
ajfa-12904	105	27	flow	flow	NOUN
ajfa-12904	105	28	from	from	ADP
ajfa-12904	105	29	operation	operation	NOUN
ajfa-12904	105	30	,	,	PUNCT
ajfa-12904	105	31	scaled	scale	VERB
ajfa-12904	105	32	by	by	ADP
ajfa-12904	105	33	lagged	lag	VERB
ajfa-12904	105	34	total	total	ADJ
ajfa-12904	105	35	assets	asset	NOUN
ajfa-12904	105	36	the	the	DET
ajfa-12904	105	37	measure	measure	NOUN
ajfa-12904	105	38	of	of	ADP
ajfa-12904	105	39	earnings	earning	NOUN
ajfa-12904	105	40	smoothing	smoothing	NOUN
ajfa-12904	105	41	is	be	AUX
ajfa-12904	105	42	calculated	calculate	VERB
ajfa-12904	105	43	based	base	VERB
ajfa-12904	105	44	on	on	ADP
ajfa-12904	105	45	firm	firm	ADJ
ajfa-12904	105	46	-	-	PUNCT
ajfa-12904	105	47	specific	specific	ADJ
ajfa-12904	105	48	time	time	NOUN
ajfa-12904	105	49	-	-	PUNCT
ajfa-12904	105	50	series	series	NOUN
ajfa-12904	105	51	of	of	ADP
ajfa-12904	105	52	data	datum	NOUN
ajfa-12904	105	53	,	,	PUNCT
ajfa-12904	105	54	requiring	require	VERB
ajfa-12904	105	55	at	at	ADV
ajfa-12904	105	56	least	least	ADV
ajfa-12904	105	57	three	three	NUM
ajfa-12904	105	58	annual	annual	ADJ
ajfa-12904	105	59	observations	observation	NOUN
ajfa-12904	105	60	for	for	ADP
ajfa-12904	105	61	each	each	DET
ajfa-12904	105	62	firm	firm	NOUN
ajfa-12904	105	63	,	,	PUNCT
ajfa-12904	105	64	before	before	ADP
ajfa-12904	105	65	the	the	DET
ajfa-12904	105	66	announcement	announcement	NOUN
ajfa-12904	105	67	date	date	NOUN
ajfa-12904	105	68	.	.	PUNCT
ajfa-12904	106	1	as	as	ADP
ajfa-12904	106	2	a	a	DET
ajfa-12904	106	3	result	result	NOUN
ajfa-12904	106	4	,	,	PUNCT
ajfa-12904	106	5	there	there	PRON
ajfa-12904	106	6	is	be	VERB
ajfa-12904	106	7	only	only	ADV
ajfa-12904	106	8	one	one	NUM
ajfa-12904	106	9	smooth	smooth	ADJ
ajfa-12904	106	10	observation	observation	NOUN
ajfa-12904	106	11	per	per	ADP
ajfa-12904	106	12	firm	firm	NOUN
ajfa-12904	106	13	in	in	ADP
ajfa-12904	106	14	the	the	DET
ajfa-12904	106	15	sample	sample	NOUN
ajfa-12904	106	16	.	.	PUNCT
ajfa-12904	107	1	the	the	DET
ajfa-12904	107	2	term	term	NOUN
ajfa-12904	107	3	is	be	AUX
ajfa-12904	107	4	multiplied	multiply	VERB
ajfa-12904	107	5	by	by	ADP
ajfa-12904	107	6	minus	minus	CCONJ
ajfa-12904	107	7	one	one	NUM
ajfa-12904	107	8	so	so	SCONJ
ajfa-12904	107	9	that	that	SCONJ
ajfa-12904	107	10	larger	large	ADJ
ajfa-12904	107	11	values	value	NOUN
ajfa-12904	107	12	imply	imply	VERB
ajfa-12904	107	13	higher	high	ADJ
ajfa-12904	107	14	earnings	earning	NOUN
ajfa-12904	107	15	smoothing	smoothing	NOUN
ajfa-12904	107	16	.	.	PUNCT
ajfa-12904	108	1	prior	prior	ADJ
ajfa-12904	108	2	studies	study	NOUN
ajfa-12904	108	3	(	(	PUNCT
ajfa-12904	108	4	e.g.	e.g.	ADV
ajfa-12904	108	5	altman	altman	PROPN
ajfa-12904	108	6	1983	1983	NUM
ajfa-12904	108	7	;	;	PUNCT
ajfa-12904	108	8	altman	altman	PROPN
ajfa-12904	108	9	&	&	CCONJ
ajfa-12904	108	10	sabato	sabato	PROPN
ajfa-12904	108	11	2007	2007	NUM
ajfa-12904	108	12	;	;	PUNCT
ajfa-12904	108	13	bellovary	bellovary	NOUN
ajfa-12904	108	14	et	et	PROPN
ajfa-12904	108	15	al	al	PROPN
ajfa-12904	108	16	.	.	PROPN
ajfa-12904	108	17	2007	2007	NUM
ajfa-12904	108	18	)	)	PUNCT
ajfa-12904	108	19	find	find	VERB
ajfa-12904	108	20	that	that	SCONJ
ajfa-12904	108	21	a	a	DET
ajfa-12904	108	22	firm	firm	NOUN
ajfa-12904	108	23	’s	’s	PART
ajfa-12904	108	24	bankruptcy	bankruptcy	NOUN
ajfa-12904	108	25	risk	risk	NOUN
ajfa-12904	108	26	is	be	AUX
ajfa-12904	108	27	associated	associate	VERB
ajfa-12904	108	28	with	with	ADP
ajfa-12904	108	29	high	high	ADJ
ajfa-12904	108	30	leverage	leverage	NOUN
ajfa-12904	108	31	,	,	PUNCT
ajfa-12904	108	32	low	low	ADJ
ajfa-12904	108	33	profitability	profitability	NOUN
ajfa-12904	108	34	,	,	PUNCT
ajfa-12904	108	35	low	low	ADJ
ajfa-12904	108	36	liquidity	liquidity	NOUN
ajfa-12904	108	37	and	and	CCONJ
ajfa-12904	108	38	high	high	ADJ
ajfa-12904	108	39	insolvency	insolvency	NOUN
ajfa-12904	108	40	.	.	PUNCT
ajfa-12904	109	1	therefore	therefore	ADV
ajfa-12904	109	2	,	,	PUNCT
ajfa-12904	109	3	leverage	leverage	NOUN
ajfa-12904	109	4	,	,	PUNCT
ajfa-12904	109	5	profitability	profitability	NOUN
ajfa-12904	109	6	,	,	PUNCT
ajfa-12904	109	7	liquidity	liquidity	NOUN
ajfa-12904	109	8	,	,	PUNCT
ajfa-12904	109	9	and	and	CCONJ
ajfa-12904	109	10	solvency	solvency	NOUN
ajfa-12904	109	11	are	be	AUX
ajfa-12904	109	12	used	use	VERB
ajfa-12904	109	13	as	as	ADP
ajfa-12904	109	14	controlling	control	VERB
ajfa-12904	109	15	variables	variable	NOUN
ajfa-12904	109	16	.	.	PUNCT
ajfa-12904	110	1	firm	firm	NOUN
ajfa-12904	110	2	’s	’s	PART
ajfa-12904	110	3	leverage	leverage	NOUN
ajfa-12904	110	4	is	be	AUX
ajfa-12904	110	5	calculated	calculate	VERB
ajfa-12904	110	6	using	use	VERB
ajfa-12904	110	7	current	current	ADJ
ajfa-12904	110	8	liabilities	liability	NOUN
ajfa-12904	110	9	,	,	PUNCT
ajfa-12904	110	10	divided	divide	VERB
ajfa-12904	110	11	with	with	ADP
ajfa-12904	110	12	shareholder	shareholder	NOUN
ajfa-12904	110	13	’s	’s	PART
ajfa-12904	110	14	equity	equity	NOUN
ajfa-12904	110	15	;	;	PUNCT
ajfa-12904	110	16	profitability	profitability	NOUN
ajfa-12904	110	17	is	be	AUX
ajfa-12904	110	18	calculated	calculate	VERB
ajfa-12904	110	19	using	use	VERB
ajfa-12904	110	20	ebitda	ebitda	NOUN
ajfa-12904	110	21	,	,	PUNCT
ajfa-12904	110	22	divided	divide	VERB
ajfa-12904	110	23	with	with	ADP
ajfa-12904	110	24	total	total	ADJ
ajfa-12904	110	25	assets	asset	NOUN
ajfa-12904	110	26	;	;	PUNCT
ajfa-12904	110	27	liquidity	liquidity	NOUN
ajfa-12904	110	28	is	be	AUX
ajfa-12904	110	29	measured	measure	VERB
ajfa-12904	110	30	by	by	ADP
ajfa-12904	110	31	dividing	divide	VERB
ajfa-12904	110	32	cash	cash	NOUN
ajfa-12904	110	33	with	with	ADP
ajfa-12904	110	34	total	total	ADJ
ajfa-12904	110	35	assets	asset	NOUN
ajfa-12904	110	36	;	;	PUNCT
ajfa-12904	110	37	and	and	CCONJ
ajfa-12904	110	38	solvency	solvency	NOUN
ajfa-12904	110	39	is	be	AUX
ajfa-12904	110	40	measured	measure	VERB
ajfa-12904	110	41	by	by	ADP
ajfa-12904	110	42	dividing	divide	VERB
ajfa-12904	110	43	current	current	ADJ
ajfa-12904	110	44	liabilities	liability	NOUN
ajfa-12904	110	45	with	with	ADP
ajfa-12904	110	46	inventory	inventory	NOUN
ajfa-12904	110	47	.	.	PUNCT
ajfa-12904	111	1	industry	industry	NOUN
ajfa-12904	111	2	fixed	fix	VERB
ajfa-12904	111	3	-	-	PUNCT
ajfa-12904	111	4	effect	effect	NOUN
ajfa-12904	111	5	is	be	AUX
ajfa-12904	111	6	represented	represent	VERB
ajfa-12904	111	7	by	by	ADP
ajfa-12904	111	8	two	two	NUM
ajfa-12904	111	9	digit	digit	NOUN
ajfa-12904	111	10	sic	sic	ADJ
ajfa-12904	111	11	code	code	NOUN
ajfa-12904	111	12	.	.	PUNCT
ajfa-12904	112	1	asian	asian	ADJ
ajfa-12904	112	2	journal	journal	PROPN
ajfa-12904	112	3	of	of	ADP
ajfa-12904	112	4	finance	finance	PROPN
ajfa-12904	112	5	&	&	CCONJ
ajfa-12904	112	6	accounting	accounting	PROPN
ajfa-12904	112	7	issn	issn	PROPN
ajfa-12904	112	8	1946	1946	NUM
ajfa-12904	112	9	-	-	PUNCT
ajfa-12904	112	10	052x	052x	NOUN
ajfa-12904	112	11	2018	2018	NUM
ajfa-12904	112	12	,	,	PUNCT
ajfa-12904	112	13	vol	vol	NOUN
ajfa-12904	112	14	.	.	PROPN
ajfa-12904	113	1	10	10	NUM
ajfa-12904	113	2	,	,	PUNCT
ajfa-12904	113	3	no	no	INTJ
ajfa-12904	113	4	.	.	NOUN
ajfa-12904	113	5	1	1	NUM
ajfa-12904	113	6	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-12904	113	7	168	168	NUM
ajfa-12904	113	8	4	4	NUM
ajfa-12904	113	9	.	.	PUNCT
ajfa-12904	113	10	findings	finding	VERB
ajfa-12904	113	11	4.1	4.1	NUM
ajfa-12904	113	12	descriptive	descriptive	ADJ
ajfa-12904	113	13	analysis	analysis	NOUN
ajfa-12904	113	14	table	table	NOUN
ajfa-12904	113	15	1	1	NUM
ajfa-12904	113	16	presents	present	VERB
ajfa-12904	113	17	the	the	DET
ajfa-12904	113	18	structure	structure	NOUN
ajfa-12904	113	19	of	of	ADP
ajfa-12904	113	20	this	this	DET
ajfa-12904	113	21	cross	cross	ADJ
ajfa-12904	113	22	-	-	ADJ
ajfa-12904	113	23	sectional	sectional	ADJ
ajfa-12904	113	24	sample	sample	NOUN
ajfa-12904	113	25	.	.	PUNCT
ajfa-12904	114	1	the	the	DET
ajfa-12904	114	2	sample	sample	NOUN
ajfa-12904	114	3	largely	largely	ADV
ajfa-12904	114	4	consists	consist	VERB
ajfa-12904	114	5	of	of	ADP
ajfa-12904	114	6	firms	firm	NOUN
ajfa-12904	114	7	in	in	ADP
ajfa-12904	114	8	construction	construction	NOUN
ajfa-12904	114	9	and	and	CCONJ
ajfa-12904	114	10	wholesale	wholesale	ADJ
ajfa-12904	114	11	(	(	PUNCT
ajfa-12904	114	12	39.8	39.8	NUM
ajfa-12904	114	13	percent	percent	NOUN
ajfa-12904	114	14	)	)	PUNCT
ajfa-12904	114	15	,	,	PUNCT
ajfa-12904	114	16	public	public	NOUN
ajfa-12904	114	17	and	and	CCONJ
ajfa-12904	114	18	administration	administration	NOUN
ajfa-12904	114	19	(	(	PUNCT
ajfa-12904	114	20	12.6	12.6	NUM
ajfa-12904	114	21	percent	percent	NOUN
ajfa-12904	114	22	)	)	PUNCT
ajfa-12904	114	23	and	and	CCONJ
ajfa-12904	114	24	manufacturing	manufacturing	NOUN
ajfa-12904	114	25	of	of	ADP
ajfa-12904	114	26	refined	refined	ADJ
ajfa-12904	114	27	goods	good	NOUN
ajfa-12904	114	28	(	(	PUNCT
ajfa-12904	114	29	10.5	10.5	NUM
ajfa-12904	114	30	percent	percent	NOUN
ajfa-12904	114	31	)	)	PUNCT
ajfa-12904	114	32	industries	industry	NOUN
ajfa-12904	114	33	.	.	PUNCT
ajfa-12904	115	1	about	about	ADV
ajfa-12904	115	2	one	one	NUM
ajfa-12904	115	3	-	-	PUNCT
ajfa-12904	115	4	third	third	NOUN
ajfa-12904	115	5	of	of	ADP
ajfa-12904	115	6	the	the	DET
ajfa-12904	115	7	firms	firm	NOUN
ajfa-12904	115	8	in	in	ADP
ajfa-12904	115	9	the	the	DET
ajfa-12904	115	10	sample	sample	NOUN
ajfa-12904	115	11	(	(	PUNCT
ajfa-12904	115	12	36	36	NUM
ajfa-12904	115	13	percent	percent	NOUN
ajfa-12904	115	14	)	)	PUNCT
ajfa-12904	115	15	received	receive	VERB
ajfa-12904	115	16	the	the	DET
ajfa-12904	115	17	notice	notice	NOUN
ajfa-12904	115	18	for	for	ADP
ajfa-12904	115	19	liquidation	liquidation	NOUN
ajfa-12904	115	20	in	in	ADP
ajfa-12904	115	21	2017	2017	NUM
ajfa-12904	115	22	.	.	PUNCT
ajfa-12904	115	23	number	number	NOUN
ajfa-12904	115	24	of	of	ADP
ajfa-12904	115	25	firms	firm	NOUN
ajfa-12904	115	26	that	that	PRON
ajfa-12904	115	27	received	receive	VERB
ajfa-12904	115	28	the	the	DET
ajfa-12904	115	29	notice	notice	NOUN
ajfa-12904	115	30	for	for	ADP
ajfa-12904	115	31	liquidation	liquidation	NOUN
ajfa-12904	115	32	reduced	reduce	VERB
ajfa-12904	115	33	from	from	ADP
ajfa-12904	115	34	year	year	NOUN
ajfa-12904	115	35	to	to	ADP
ajfa-12904	115	36	year	year	NOUN
ajfa-12904	115	37	.	.	PUNCT
ajfa-12904	116	1	for	for	ADP
ajfa-12904	116	2	example	example	NOUN
ajfa-12904	116	3	,	,	PUNCT
ajfa-12904	116	4	the	the	DET
ajfa-12904	116	5	number	number	NOUN
ajfa-12904	116	6	of	of	ADP
ajfa-12904	116	7	firms	firm	NOUN
ajfa-12904	116	8	in	in	ADP
ajfa-12904	116	9	2017	2017	NUM
ajfa-12904	116	10	is	be	AUX
ajfa-12904	116	11	134	134	NUM
ajfa-12904	116	12	,	,	PUNCT
ajfa-12904	116	13	but	but	CCONJ
ajfa-12904	116	14	the	the	DET
ajfa-12904	116	15	number	number	NOUN
ajfa-12904	116	16	of	of	ADP
ajfa-12904	116	17	firms	firm	NOUN
ajfa-12904	116	18	in	in	ADP
ajfa-12904	116	19	2016	2016	NUM
ajfa-12904	116	20	is	be	AUX
ajfa-12904	116	21	107	107	NUM
ajfa-12904	116	22	.	.	PUNCT
ajfa-12904	117	1	the	the	DET
ajfa-12904	117	2	main	main	ADJ
ajfa-12904	117	3	reason	reason	NOUN
ajfa-12904	117	4	for	for	ADP
ajfa-12904	117	5	this	this	DET
ajfa-12904	117	6	trend	trend	NOUN
ajfa-12904	117	7	is	be	AUX
ajfa-12904	117	8	due	due	ADJ
ajfa-12904	117	9	to	to	ADP
ajfa-12904	117	10	the	the	DET
ajfa-12904	117	11	technical	technical	ADJ
ajfa-12904	117	12	limitation	limitation	NOUN
ajfa-12904	117	13	.	.	PUNCT
ajfa-12904	118	1	while	while	SCONJ
ajfa-12904	118	2	the	the	DET
ajfa-12904	118	3	firms	firm	NOUN
ajfa-12904	118	4	might	might	AUX
ajfa-12904	118	5	receive	receive	VERB
ajfa-12904	118	6	the	the	DET
ajfa-12904	118	7	notice	notice	NOUN
ajfa-12904	118	8	for	for	ADP
ajfa-12904	118	9	liquidation	liquidation	NOUN
ajfa-12904	118	10	in	in	ADP
ajfa-12904	118	11	2015	2015	NUM
ajfa-12904	118	12	,	,	PUNCT
ajfa-12904	118	13	for	for	ADP
ajfa-12904	118	14	example	example	NOUN
ajfa-12904	118	15	,	,	PUNCT
ajfa-12904	118	16	their	their	PRON
ajfa-12904	118	17	last	last	ADJ
ajfa-12904	118	18	account	account	NOUN
ajfa-12904	118	19	date	date	NOUN
ajfa-12904	118	20	is	be	AUX
ajfa-12904	118	21	not	not	PART
ajfa-12904	118	22	necessarily	necessarily	ADV
ajfa-12904	118	23	in	in	ADP
ajfa-12904	118	24	2014	2014	NUM
ajfa-12904	118	25	or	or	CCONJ
ajfa-12904	118	26	2015	2015	NUM
ajfa-12904	118	27	.	.	PUNCT
ajfa-12904	119	1	rather	rather	ADV
ajfa-12904	119	2	,	,	PUNCT
ajfa-12904	119	3	they	they	PRON
ajfa-12904	119	4	might	might	AUX
ajfa-12904	119	5	have	have	VERB
ajfa-12904	119	6	last	last	ADJ
ajfa-12904	119	7	account	account	NOUN
ajfa-12904	119	8	date	date	NOUN
ajfa-12904	119	9	of	of	ADP
ajfa-12904	119	10	two	two	NUM
ajfa-12904	119	11	or	or	CCONJ
ajfa-12904	119	12	more	more	ADJ
ajfa-12904	119	13	years	year	NOUN
ajfa-12904	119	14	prior	prior	ADV
ajfa-12904	119	15	to	to	ADP
ajfa-12904	119	16	the	the	DET
ajfa-12904	119	17	notice	notice	NOUN
ajfa-12904	119	18	for	for	ADP
ajfa-12904	119	19	liquidation	liquidation	NOUN
ajfa-12904	119	20	.	.	PUNCT
ajfa-12904	120	1	as	as	SCONJ
ajfa-12904	120	2	the	the	DET
ajfa-12904	120	3	model	model	NOUN
ajfa-12904	120	4	requires	require	VERB
ajfa-12904	120	5	financial	financial	ADJ
ajfa-12904	120	6	data	datum	NOUN
ajfa-12904	120	7	of	of	ADP
ajfa-12904	120	8	at	at	ADV
ajfa-12904	120	9	least	least	ADV
ajfa-12904	120	10	three	three	NUM
ajfa-12904	120	11	years	year	NOUN
ajfa-12904	120	12	consecutively	consecutively	ADV
ajfa-12904	120	13	,	,	PUNCT
ajfa-12904	120	14	and	and	CCONJ
ajfa-12904	120	15	the	the	DET
ajfa-12904	120	16	exclusion	exclusion	NOUN
ajfa-12904	120	17	of	of	ADP
ajfa-12904	120	18	year	year	NOUN
ajfa-12904	120	19	2008	2008	NUM
ajfa-12904	120	20	due	due	ADP
ajfa-12904	120	21	to	to	ADP
ajfa-12904	120	22	financial	financial	ADJ
ajfa-12904	120	23	crisis	crisis	NOUN
ajfa-12904	120	24	,	,	PUNCT
ajfa-12904	120	25	many	many	ADJ
ajfa-12904	120	26	firms	firm	NOUN
ajfa-12904	120	27	have	have	VERB
ajfa-12904	120	28	to	to	PART
ajfa-12904	120	29	be	be	AUX
ajfa-12904	120	30	dropped	drop	VERB
ajfa-12904	120	31	from	from	ADP
ajfa-12904	120	32	the	the	DET
ajfa-12904	120	33	sample	sample	NOUN
ajfa-12904	120	34	list	list	NOUN
ajfa-12904	120	35	,	,	PUNCT
ajfa-12904	120	36	especially	especially	ADV
ajfa-12904	120	37	those	those	DET
ajfa-12904	120	38	firms	firm	NOUN
ajfa-12904	120	39	which	which	PRON
ajfa-12904	120	40	receive	receive	VERB
ajfa-12904	120	41	notice	notice	NOUN
ajfa-12904	120	42	for	for	ADP
ajfa-12904	120	43	liquidation	liquidation	NOUN
ajfa-12904	120	44	in	in	ADP
ajfa-12904	120	45	earlier	early	ADJ
ajfa-12904	120	46	periods	period	NOUN
ajfa-12904	120	47	.	.	PUNCT
ajfa-12904	121	1	table	table	NOUN
ajfa-12904	121	2	2	2	NUM
ajfa-12904	121	3	exhibits	exhibit	VERB
ajfa-12904	121	4	distributional	distributional	ADJ
ajfa-12904	121	5	properties	property	NOUN
ajfa-12904	121	6	and	and	CCONJ
ajfa-12904	121	7	correlations	correlation	NOUN
ajfa-12904	121	8	between	between	ADP
ajfa-12904	121	9	the	the	DET
ajfa-12904	121	10	dependent	dependent	ADJ
ajfa-12904	121	11	and	and	CCONJ
ajfa-12904	121	12	independent	independent	ADJ
ajfa-12904	121	13	variables	variable	NOUN
ajfa-12904	121	14	in	in	ADP
ajfa-12904	121	15	the	the	DET
ajfa-12904	121	16	sample	sample	NOUN
ajfa-12904	121	17	.	.	PUNCT
ajfa-12904	122	1	the	the	DET
ajfa-12904	122	2	size	size	NOUN
ajfa-12904	122	3	of	of	ADP
ajfa-12904	122	4	average	average	ADJ
ajfa-12904	122	5	sample	sample	NOUN
ajfa-12904	122	6	firms	firm	NOUN
ajfa-12904	122	7	,	,	PUNCT
ajfa-12904	122	8	as	as	SCONJ
ajfa-12904	122	9	measured	measure	VERB
ajfa-12904	122	10	by	by	ADP
ajfa-12904	122	11	total	total	ADJ
ajfa-12904	122	12	assets	asset	NOUN
ajfa-12904	122	13	,	,	PUNCT
ajfa-12904	122	14	is	be	AUX
ajfa-12904	122	15	around	around	ADP
ajfa-12904	122	16	£	£	SYM
ajfa-12904	122	17	6.6	6.6	NUM
ajfa-12904	122	18	million	million	NUM
ajfa-12904	122	19	(	(	PUNCT
ajfa-12904	122	20	median	median	NOUN
ajfa-12904	122	21	)	)	PUNCT
ajfa-12904	122	22	,	,	PUNCT
ajfa-12904	122	23	which	which	PRON
ajfa-12904	122	24	is	be	AUX
ajfa-12904	122	25	similar	similar	ADJ
ajfa-12904	122	26	to	to	ADP
ajfa-12904	122	27	previous	previous	ADJ
ajfa-12904	122	28	studies	study	NOUN
ajfa-12904	122	29	focusing	focus	VERB
ajfa-12904	122	30	on	on	ADP
ajfa-12904	122	31	private	private	ADJ
ajfa-12904	122	32	firms	firm	NOUN
ajfa-12904	122	33	in	in	ADP
ajfa-12904	122	34	uk	uk	PROPN
ajfa-12904	122	35	(	(	PUNCT
ajfa-12904	122	36	e.g.	e.g.	ADV
ajfa-12904	122	37	ball	ball	NOUN
ajfa-12904	122	38	&	&	CCONJ
ajfa-12904	122	39	shivakumar	shivakumar	PROPN
ajfa-12904	122	40	2005	2005	NUM
ajfa-12904	122	41	)	)	PUNCT
ajfa-12904	122	42	.	.	PUNCT
ajfa-12904	123	1	smooth	smooth	ADJ
ajfa-12904	123	2	variable	variable	NOUN
ajfa-12904	123	3	indicates	indicate	VERB
ajfa-12904	123	4	that	that	SCONJ
ajfa-12904	123	5	majority	majority	NOUN
ajfa-12904	123	6	of	of	ADP
ajfa-12904	123	7	the	the	DET
ajfa-12904	123	8	sample	sample	NOUN
ajfa-12904	123	9	firms	firm	NOUN
ajfa-12904	123	10	(	(	PUNCT
ajfa-12904	123	11	69.9	69.9	NUM
ajfa-12904	123	12	percent	percent	NOUN
ajfa-12904	123	13	)	)	PUNCT
ajfa-12904	123	14	has	have	VERB
ajfa-12904	123	15	earnings	earning	NOUN
ajfa-12904	123	16	that	that	PRON
ajfa-12904	123	17	are	be	AUX
ajfa-12904	123	18	less	less	ADV
ajfa-12904	123	19	volatile	volatile	ADJ
ajfa-12904	123	20	than	than	ADP
ajfa-12904	123	21	cash	cash	NOUN
ajfa-12904	123	22	flows	flow	NOUN
ajfa-12904	123	23	(	(	PUNCT
ajfa-12904	123	24	i.e.	i.e.	X
ajfa-12904	123	25	smooth	smooth	ADJ
ajfa-12904	123	26	>	>	X
ajfa-12904	123	27	-1	-1	NOUN
ajfa-12904	123	28	)	)	PUNCT
ajfa-12904	123	29	.	.	PUNCT
ajfa-12904	124	1	z	z	X
ajfa-12904	124	2	”	"	PUNCT
ajfa-12904	124	3	score	score	NOUN
ajfa-12904	124	4	indicates	indicate	VERB
ajfa-12904	124	5	that	that	SCONJ
ajfa-12904	124	6	majority	majority	NOUN
ajfa-12904	124	7	of	of	ADP
ajfa-12904	124	8	the	the	DET
ajfa-12904	124	9	sample	sample	NOUN
ajfa-12904	124	10	firms	firm	NOUN
ajfa-12904	124	11	(	(	PUNCT
ajfa-12904	124	12	76.01	76.01	NUM
ajfa-12904	124	13	percent	percent	NOUN
ajfa-12904	124	14	)	)	PUNCT
ajfa-12904	124	15	have	have	VERB
ajfa-12904	124	16	high	high	ADJ
ajfa-12904	124	17	risk	risk	NOUN
ajfa-12904	124	18	for	for	ADP
ajfa-12904	124	19	bankruptcy	bankruptcy	NOUN
ajfa-12904	124	20	(	(	PUNCT
ajfa-12904	124	21	i.e.	i.e.	X
ajfa-12904	124	22	z	z	ADJ
ajfa-12904	124	23	”	"	PUNCT
ajfa-12904	124	24	score>-2.9	score>-2.9	PROPN
ajfa-12904	124	25	)	)	PUNCT
ajfa-12904	124	26	.	.	PUNCT
ajfa-12904	125	1	this	this	PRON
ajfa-12904	125	2	is	be	AUX
ajfa-12904	125	3	as	as	SCONJ
ajfa-12904	125	4	expected	expect	VERB
ajfa-12904	125	5	because	because	SCONJ
ajfa-12904	125	6	the	the	DET
ajfa-12904	125	7	sample	sample	NOUN
ajfa-12904	125	8	firms	firm	NOUN
ajfa-12904	125	9	consists	consist	VERB
ajfa-12904	125	10	of	of	ADP
ajfa-12904	125	11	firms	firm	NOUN
ajfa-12904	125	12	that	that	PRON
ajfa-12904	125	13	are	be	AUX
ajfa-12904	125	14	in	in	ADP
ajfa-12904	125	15	the	the	DET
ajfa-12904	125	16	process	process	NOUN
ajfa-12904	125	17	of	of	ADP
ajfa-12904	125	18	liquidation	liquidation	NOUN
ajfa-12904	125	19	;	;	PUNCT
ajfa-12904	125	20	either	either	CCONJ
ajfa-12904	125	21	voluntary	voluntary	ADJ
ajfa-12904	125	22	by	by	ADP
ajfa-12904	125	23	members	member	NOUN
ajfa-12904	125	24	or	or	CCONJ
ajfa-12904	125	25	creditors	creditor	NOUN
ajfa-12904	125	26	,	,	PUNCT
ajfa-12904	125	27	or	or	CCONJ
ajfa-12904	125	28	by	by	ADP
ajfa-12904	125	29	court	court	NOUN
ajfa-12904	125	30	orders	order	NOUN
ajfa-12904	125	31	.	.	PUNCT
ajfa-12904	126	1	consistent	consistent	ADJ
ajfa-12904	126	2	with	with	ADP
ajfa-12904	126	3	this	this	DET
ajfa-12904	126	4	notion	notion	NOUN
ajfa-12904	126	5	,	,	PUNCT
ajfa-12904	126	6	many	many	ADJ
ajfa-12904	126	7	of	of	ADP
ajfa-12904	126	8	the	the	DET
ajfa-12904	126	9	sample	sample	NOUN
ajfa-12904	126	10	firms	firm	NOUN
ajfa-12904	126	11	have	have	VERB
ajfa-12904	126	12	negative	negative	ADJ
ajfa-12904	126	13	net	net	ADJ
ajfa-12904	126	14	income	income	NOUN
ajfa-12904	126	15	(	(	PUNCT
ajfa-12904	126	16	49.7	49.7	NUM
ajfa-12904	126	17	percent	percent	NOUN
ajfa-12904	126	18	)	)	PUNCT
ajfa-12904	126	19	,	,	PUNCT
ajfa-12904	126	20	negative	negative	ADJ
ajfa-12904	126	21	ebit	ebit	NOUN
ajfa-12904	126	22	(	(	PUNCT
ajfa-12904	126	23	48.1	48.1	NUM
ajfa-12904	126	24	percent	percent	NOUN
ajfa-12904	126	25	)	)	PUNCT
ajfa-12904	126	26	and	and	CCONJ
ajfa-12904	126	27	negative	negative	ADJ
ajfa-12904	126	28	cfo	cfo	NOUN
ajfa-12904	126	29	(	(	PUNCT
ajfa-12904	126	30	30.6	30.6	NUM
ajfa-12904	126	31	percent	percent	NOUN
ajfa-12904	126	32	)	)	PUNCT
ajfa-12904	126	33	.	.	PUNCT
ajfa-12904	127	1	on	on	ADP
ajfa-12904	127	2	average	average	ADJ
ajfa-12904	127	3	,	,	PUNCT
ajfa-12904	127	4	the	the	DET
ajfa-12904	127	5	sample	sample	NOUN
ajfa-12904	127	6	firms	firm	NOUN
ajfa-12904	127	7	are	be	AUX
ajfa-12904	127	8	highly	highly	ADV
ajfa-12904	127	9	leveraged	leveraged	ADJ
ajfa-12904	127	10	(	(	PUNCT
ajfa-12904	127	11	current	current	ADJ
ajfa-12904	127	12	liabilities	liability	NOUN
ajfa-12904	127	13	to	to	ADP
ajfa-12904	127	14	equity	equity	NOUN
ajfa-12904	127	15	of	of	ADP
ajfa-12904	127	16	112.9	112.9	NUM
ajfa-12904	127	17	percent	percent	NOUN
ajfa-12904	127	18	)	)	PUNCT
ajfa-12904	127	19	and	and	CCONJ
ajfa-12904	127	20	highly	highly	ADV
ajfa-12904	127	21	insolvent	insolvent	ADJ
ajfa-12904	127	22	(	(	PUNCT
ajfa-12904	127	23	current	current	ADJ
ajfa-12904	127	24	liabilities	liability	NOUN
ajfa-12904	127	25	to	to	ADP
ajfa-12904	127	26	inventory	inventory	NOUN
ajfa-12904	127	27	of	of	ADP
ajfa-12904	127	28	483.7	483.7	NUM
ajfa-12904	127	29	percent	percent	NOUN
ajfa-12904	127	30	)	)	PUNCT
ajfa-12904	127	31	,	,	PUNCT
ajfa-12904	127	32	indicating	indicate	VERB
ajfa-12904	127	33	that	that	SCONJ
ajfa-12904	127	34	these	these	DET
ajfa-12904	127	35	firms	firm	NOUN
ajfa-12904	127	36	are	be	AUX
ajfa-12904	127	37	highly	highly	ADV
ajfa-12904	127	38	dependent	dependent	ADJ
ajfa-12904	127	39	on	on	ADP
ajfa-12904	127	40	external	external	ADJ
ajfa-12904	127	41	debt	debt	NOUN
ajfa-12904	127	42	to	to	PART
ajfa-12904	127	43	finance	finance	VERB
ajfa-12904	127	44	their	their	PRON
ajfa-12904	127	45	operation	operation	NOUN
ajfa-12904	127	46	and	and	CCONJ
ajfa-12904	127	47	that	that	SCONJ
ajfa-12904	127	48	they	they	PRON
ajfa-12904	127	49	are	be	AUX
ajfa-12904	127	50	having	have	VERB
ajfa-12904	127	51	difficulties	difficulty	NOUN
ajfa-12904	127	52	to	to	PART
ajfa-12904	127	53	repay	repay	VERB
ajfa-12904	127	54	their	their	PRON
ajfa-12904	127	55	debts	debt	NOUN
ajfa-12904	127	56	.	.	PUNCT
ajfa-12904	128	1	they	they	PRON
ajfa-12904	128	2	also	also	ADV
ajfa-12904	128	3	have	have	VERB
ajfa-12904	128	4	low	low	ADJ
ajfa-12904	128	5	profitability	profitability	NOUN
ajfa-12904	128	6	(	(	PUNCT
ajfa-12904	128	7	roa	roa	NOUN
ajfa-12904	128	8	of	of	ADP
ajfa-12904	128	9	4.2	4.2	NUM
ajfa-12904	128	10	percent	percent	NOUN
ajfa-12904	128	11	)	)	PUNCT
ajfa-12904	128	12	and	and	CCONJ
ajfa-12904	128	13	low	low	ADJ
ajfa-12904	128	14	liquidity	liquidity	NOUN
ajfa-12904	128	15	(	(	PUNCT
ajfa-12904	128	16	cash	cash	NOUN
ajfa-12904	128	17	to	to	ADP
ajfa-12904	128	18	total	total	ADJ
ajfa-12904	128	19	liabilities	liability	NOUN
ajfa-12904	128	20	of	of	ADP
ajfa-12904	128	21	4.9	4.9	NUM
ajfa-12904	128	22	percent	percent	NOUN
ajfa-12904	128	23	)	)	PUNCT
ajfa-12904	128	24	.	.	PUNCT
ajfa-12904	129	1	asian	asian	ADJ
ajfa-12904	129	2	journal	journal	PROPN
ajfa-12904	129	3	of	of	ADP
ajfa-12904	129	4	finance	finance	PROPN
ajfa-12904	129	5	&	&	CCONJ
ajfa-12904	129	6	accounting	accounting	PROPN
ajfa-12904	129	7	issn	issn	PROPN
ajfa-12904	129	8	1946	1946	NUM
ajfa-12904	129	9	-	-	PUNCT
ajfa-12904	129	10	052x	052x	NOUN
ajfa-12904	129	11	2018	2018	NUM
ajfa-12904	129	12	,	,	PUNCT
ajfa-12904	129	13	vol	vol	NOUN
ajfa-12904	129	14	.	.	PROPN
ajfa-12904	129	15	10	10	NUM
ajfa-12904	129	16	,	,	PUNCT
ajfa-12904	129	17	no	no	INTJ
ajfa-12904	129	18	.	.	NOUN
ajfa-12904	129	19	1	1	NUM
ajfa-12904	129	20	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-12904	129	21	169	169	NUM
ajfa-12904	129	22	table	table	NOUN
ajfa-12904	129	23	1	1	NUM
ajfa-12904	129	24	.	.	PUNCT
ajfa-12904	129	25	tabulation	tabulation	NOUN
ajfa-12904	129	26	of	of	ADP
ajfa-12904	129	27	sample	sample	NOUN
ajfa-12904	129	28	based	base	VERB
ajfa-12904	129	29	on	on	ADP
ajfa-12904	129	30	industry	industry	NOUN
ajfa-12904	129	31	and	and	CCONJ
ajfa-12904	129	32	liquidation	liquidation	NOUN
ajfa-12904	129	33	status	status	NOUN
ajfa-12904	129	34	year	year	NOUN
ajfa-12904	129	35	industry	industry	NOUN
ajfa-12904	129	36	liquidation	liquidation	NOUN
ajfa-12904	129	37	status	status	NOUN
ajfa-12904	129	38	year	year	NOUN
ajfa-12904	129	39	1xxxx	1xxxx	NUM
ajfa-12904	129	40	manuf	manuf	NOUN
ajfa-12904	129	41	.	.	PUNCT
ajfa-12904	130	1	(	(	PUNCT
ajfa-12904	130	2	basic	basic	ADJ
ajfa-12904	130	3	goods	good	NOUN
ajfa-12904	130	4	)	)	PUNCT
ajfa-12904	130	5	.	.	PUNCT
ajfa-12904	131	1	2xxxx	2xxxx	NUM
ajfa-12904	131	2	manuf	manuf	NOUN
ajfa-12904	131	3	.	.	PUNCT
ajfa-12904	132	1	(	(	PUNCT
ajfa-12904	132	2	refined	refined	ADJ
ajfa-12904	132	3	goods	good	NOUN
ajfa-12904	132	4	)	)	PUNCT
ajfa-12904	132	5	3xxxx	3xxxx	NUM
ajfa-12904	132	6	utilities	utility	NOUN
ajfa-12904	132	7	4xxxx	4xxxx	NUM
ajfa-12904	132	8	const	const	NOUN
ajfa-12904	132	9	.	.	PUNCT
ajfa-12904	132	10	,	,	PUNCT
ajfa-12904	132	11	wholesale	wholesale	PROPN
ajfa-12904	132	12	5xxxx	5xxxx	NUM
ajfa-12904	132	13	transp	transp	NOUN
ajfa-12904	132	14	.	.	PUNCT
ajfa-12904	132	15	,	,	PUNCT
ajfa-12904	132	16	accomm	accomm	NOUN
ajfa-12904	132	17	.	.	PUNCT
ajfa-12904	133	1	6xxxx	6xxxx	NUM
ajfa-12904	133	2	comm	comm	NOUN
ajfa-12904	133	3	.	.	PUNCT
ajfa-12904	134	1	7xxxx	7xxxx	NUM
ajfa-12904	134	2	admin	admin	NOUN
ajfa-12904	134	3	.	.	PROPN
ajfa-12904	134	4	,	,	PUNCT
ajfa-12904	134	5	&	&	CCONJ
ajfa-12904	134	6	support	support	PROPN
ajfa-12904	134	7	service	service	PROPN
ajfa-12904	134	8	8xxxx	8xxxx	NUM
ajfa-12904	134	9	public	public	ADJ
ajfa-12904	134	10	admin	admin	NOUN
ajfa-12904	134	11	.	.	PUNCT
ajfa-12904	135	1	9xxxx	9xxxx	NUM
ajfa-12904	135	2	entertain	entertain	NOUN
ajfa-12904	135	3	.	.	PUNCT
ajfa-12904	135	4	,	,	PUNCT
ajfa-12904	135	5	&	&	CCONJ
ajfa-12904	135	6	other	other	ADJ
ajfa-12904	135	7	service	service	NOUN
ajfa-12904	135	8	total	total	NOUN
ajfa-12904	135	9	percent	percent	NOUN
ajfa-12904	135	10	(	(	PUNCT
ajfa-12904	135	11	%	%	NOUN
ajfa-12904	135	12	)	)	PUNCT
ajfa-12904	135	13	2013	2013	NUM
ajfa-12904	135	14	0	0	NUM
ajfa-12904	136	1	1	1	NUM
ajfa-12904	136	2	1	1	NUM
ajfa-12904	136	3	5	5	NUM
ajfa-12904	136	4	1	1	NUM
ajfa-12904	136	5	1	1	NUM
ajfa-12904	136	6	0	0	NUM
ajfa-12904	136	7	1	1	NUM
ajfa-12904	136	8	0	0	NUM
ajfa-12904	136	9	10	10	NUM
ajfa-12904	136	10	2.7	2.7	NUM
ajfa-12904	136	11	2014	2014	NUM
ajfa-12904	136	12	3	3	NUM
ajfa-12904	136	13	1	1	NUM
ajfa-12904	136	14	6	6	NUM
ajfa-12904	136	15	24	24	NUM
ajfa-12904	136	16	3	3	NUM
ajfa-12904	136	17	2	2	NUM
ajfa-12904	136	18	1	1	NUM
ajfa-12904	136	19	3	3	NUM
ajfa-12904	136	20	1	1	NUM
ajfa-12904	136	21	44	44	NUM
ajfa-12904	136	22	11.8	11.8	NUM
ajfa-12904	136	23	2015	2015	NUM
ajfa-12904	136	24	5	5	NUM
ajfa-12904	136	25	8	8	NUM
ajfa-12904	136	26	5	5	NUM
ajfa-12904	136	27	28	28	NUM
ajfa-12904	136	28	7	7	NUM
ajfa-12904	136	29	7	7	NUM
ajfa-12904	136	30	3	3	NUM
ajfa-12904	136	31	9	9	NUM
ajfa-12904	136	32	5	5	NUM
ajfa-12904	136	33	77	77	NUM
ajfa-12904	136	34	20.7	20.7	NUM
ajfa-12904	136	35	2016	2016	NUM
ajfa-12904	136	36	7	7	NUM
ajfa-12904	136	37	15	15	NUM
ajfa-12904	136	38	7	7	NUM
ajfa-12904	136	39	42	42	NUM
ajfa-12904	136	40	4	4	NUM
ajfa-12904	136	41	10	10	NUM
ajfa-12904	136	42	8	8	NUM
ajfa-12904	136	43	12	12	NUM
ajfa-12904	136	44	2	2	NUM
ajfa-12904	136	45	107	107	NUM
ajfa-12904	136	46	28.8	28.8	NUM
ajfa-12904	136	47	2017	2017	NUM
ajfa-12904	136	48	6	6	NUM
ajfa-12904	136	49	14	14	NUM
ajfa-12904	136	50	7	7	NUM
ajfa-12904	136	51	49	49	NUM
ajfa-12904	136	52	4	4	NUM
ajfa-12904	136	53	14	14	NUM
ajfa-12904	136	54	15	15	NUM
ajfa-12904	136	55	22	22	NUM
ajfa-12904	136	56	3	3	NUM
ajfa-12904	136	57	134	134	NUM
ajfa-12904	136	58	36.0	36.0	NUM
ajfa-12904	136	59	total	total	NOUN
ajfa-12904	136	60	21	21	NUM
ajfa-12904	136	61	39	39	NUM
ajfa-12904	136	62	26	26	NUM
ajfa-12904	136	63	148	148	NUM
ajfa-12904	136	64	19	19	NUM
ajfa-12904	136	65	34	34	NUM
ajfa-12904	136	66	27	27	NUM
ajfa-12904	136	67	47	47	NUM
ajfa-12904	136	68	11	11	NUM
ajfa-12904	136	69	372	372	NUM
ajfa-12904	136	70	100	100	NUM
ajfa-12904	136	71	percent	percent	NOUN
ajfa-12904	136	72	5.6	5.6	NUM
ajfa-12904	136	73	10.5	10.5	NUM
ajfa-12904	136	74	7.0	7.0	NUM
ajfa-12904	136	75	39.8	39.8	NUM
ajfa-12904	136	76	5.1	5.1	NUM
ajfa-12904	136	77	9.1	9.1	NUM
ajfa-12904	136	78	7.3	7.3	NUM
ajfa-12904	136	79	12.6	12.6	NUM
ajfa-12904	136	80	3.0	3.0	NUM
ajfa-12904	136	81	100	100	NUM
ajfa-12904	136	82	table	table	NOUN
ajfa-12904	136	83	2	2	NUM
ajfa-12904	136	84	.	.	PUNCT
ajfa-12904	136	85	descriptive	descriptive	ADJ
ajfa-12904	136	86	statistics	statistics	PROPN
ajfa-12904	136	87	panel	panel	NOUN
ajfa-12904	136	88	a	a	PRON
ajfa-12904	136	89	:	:	PUNCT
ajfa-12904	136	90	distributional	distributional	ADJ
ajfa-12904	136	91	properties	property	NOUN
ajfa-12904	136	92	(	(	PUNCT
ajfa-12904	136	93	n=372	n=372	NOUN
ajfa-12904	136	94	)	)	PUNCT
ajfa-12904	136	95	variable	variable	ADJ
ajfa-12904	136	96	mean	mean	VERB
ajfa-12904	136	97	standard	standard	ADJ
ajfa-12904	136	98	deviation	deviation	NOUN
ajfa-12904	137	1	1st	1st	ADJ
ajfa-12904	137	2	quartile	quartile	ADJ
ajfa-12904	137	3	2nd	2nd	ADJ
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ajfa-12904	137	6	quartile	quartile	NOUN
ajfa-12904	137	7	z	z	NOUN
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ajfa-12904	137	24	£	£	SYM
ajfa-12904	137	25	‘	'	PUNCT
ajfa-12904	137	26	000	000	NUM
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ajfa-12904	137	34	(	(	PUNCT
ajfa-12904	137	35	£	£	NOUN
ajfa-12904	137	36	‘	'	PUNCT
ajfa-12904	137	37	000	000	NUM
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ajfa-12904	137	45	(	(	PUNCT
ajfa-12904	137	46	£	£	NOUN
ajfa-12904	137	47	‘	'	PUNCT
ajfa-12904	137	48	000	000	NUM
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ajfa-12904	137	53	735.624	735.624	NUM
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ajfa-12904	137	56	(	(	PUNCT
ajfa-12904	137	57	£	£	SYM
ajfa-12904	137	58	‘	'	PUNCT
ajfa-12904	137	59	000	000	NUM
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ajfa-12904	137	63	449.000	449.000	NUM
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ajfa-12904	137	66	ebit	ebit	NOUN
ajfa-12904	137	67	(	(	PUNCT
ajfa-12904	137	68	£	£	PROPN
ajfa-12904	137	69	‘	'	PUNCT
ajfa-12904	137	70	000	000	NUM
ajfa-12904	137	71	)	)	PUNCT
ajfa-12904	137	72	1,144.658	1,144.658	NUM
ajfa-12904	137	73	96,424.360	96,424.360	NUM
ajfa-12904	137	74	-544.944	-544.944	NUM
ajfa-12904	137	75	13.448	13.448	NUM
ajfa-12904	137	76	441.611	441.611	NUM
ajfa-12904	137	77	net	net	ADJ
ajfa-12904	137	78	income	income	NOUN
ajfa-12904	137	79	(	(	PUNCT
ajfa-12904	137	80	£	£	NOUN
ajfa-12904	137	81	‘	'	PUNCT
ajfa-12904	137	82	000	000	NUM
ajfa-12904	137	83	)	)	PUNCT
ajfa-12904	137	84	1,310.894	1,310.894	NUM
ajfa-12904	137	85	95,637.920	95,637.920	NOUN
ajfa-12904	137	86	-533.352	-533.352	NUM
ajfa-12904	137	87	15.221	15.221	NUM
ajfa-12904	137	88	375.708	375.708	NUM
ajfa-12904	137	89	cfo	cfo	NOUN
ajfa-12904	137	90	(	(	PUNCT
ajfa-12904	137	91	£	£	NOUN
ajfa-12904	137	92	‘	'	PUNCT
ajfa-12904	137	93	000	000	NUM
ajfa-12904	137	94	)	)	PUNCT
ajfa-12904	137	95	3,249.167	3,249.167	NUM
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ajfa-12904	137	97	-156.921	-156.921	PROPN
ajfa-12904	137	98	329.500	329.500	NUM
ajfa-12904	137	99	1,544.000	1,544.000	NUM
ajfa-12904	137	100	neg	neg	NOUN
ajfa-12904	137	101	income	income	NOUN
ajfa-12904	137	102	(	(	PUNCT
ajfa-12904	137	103	%	%	NOUN
ajfa-12904	137	104	)	)	PUNCT
ajfa-12904	137	105	0.497	0.497	NUM
ajfa-12904	137	106	0.501	0.501	NUM
ajfa-12904	137	107	0.000	0.000	NUM
ajfa-12904	137	108	0.000	0.000	NUM
ajfa-12904	137	109	1.000	1.000	NUM
ajfa-12904	137	110	leverage	leverage	NOUN
ajfa-12904	137	111	727.760	727.760	NUM
ajfa-12904	137	112	14,007.480	14,007.480	NUM
ajfa-12904	137	113	0.135	0.135	NUM
ajfa-12904	137	114	1.129	1.129	NUM
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ajfa-12904	137	116	profitability	profitability	NOUN
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ajfa-12904	137	120	0.042	0.042	NUM
ajfa-12904	137	121	0.109	0.109	NUM
ajfa-12904	137	122	liquidity	liquidity	NOUN
ajfa-12904	137	123	1.159	1.159	NUM
ajfa-12904	137	124	11.763	11.763	NUM
ajfa-12904	137	125	0.008	0.008	NUM
ajfa-12904	137	126	0.049	0.049	NUM
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ajfa-12904	137	129	155.642	155.642	NUM
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ajfa-12904	137	133	23.62	23.62	NUM
ajfa-12904	137	134	asian	asian	ADJ
ajfa-12904	137	135	journal	journal	NOUN
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ajfa-12904	137	137	finance	finance	PROPN
ajfa-12904	137	138	&	&	CCONJ
ajfa-12904	137	139	accounting	accounting	PROPN
ajfa-12904	137	140	issn	issn	PROPN
ajfa-12904	137	141	1946	1946	NUM
ajfa-12904	137	142	-	-	PUNCT
ajfa-12904	137	143	052x	052x	NOUN
ajfa-12904	137	144	2018	2018	NUM
ajfa-12904	137	145	,	,	PUNCT
ajfa-12904	137	146	vol	vol	NOUN
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ajfa-12904	137	149	,	,	PUNCT
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ajfa-12904	137	151	.	.	NOUN
ajfa-12904	137	152	1	1	NUM
ajfa-12904	137	153	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
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ajfa-12904	137	155	continued	continue	VERB
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ajfa-12904	137	160	variable	variable	VERB
ajfa-12904	137	161	a	a	DET
ajfa-12904	137	162	b	b	NOUN
ajfa-12904	137	163	c	c	NOUN
ajfa-12904	137	164	d	d	X
ajfa-12904	137	165	e	e	X
ajfa-12904	137	166	f	f	PROPN
ajfa-12904	137	167	g	g	PROPN
ajfa-12904	138	1	h	h	NOUN
ajfa-12904	139	1	i	i	PRON
ajfa-12904	139	2	j	j	PROPN
ajfa-12904	140	1	k	k	PROPN
ajfa-12904	140	2	l	l	PROPN
ajfa-12904	140	3	m	m	VERB
ajfa-12904	140	4	n	n	ADV
ajfa-12904	140	5	a	a	DET
ajfa-12904	140	6	:	:	PUNCT
ajfa-12904	140	7	z	z	ADJ
ajfa-12904	140	8	”	"	PUNCT
ajfa-12904	140	9	score	score	NOUN
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ajfa-12904	140	12	0.007	0.007	NUM
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ajfa-12904	140	15	-0.017	-0.017	X
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ajfa-12904	140	23	b	b	NOUN
ajfa-12904	140	24	:	:	PUNCT
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ajfa-12904	142	23	d	d	NOUN
ajfa-12904	142	24	:	:	PUNCT
ajfa-12904	142	25	ppe	ppe	NOUN
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ajfa-12904	142	39	e	e	NOUN
ajfa-12904	142	40	:	:	PUNCT
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ajfa-12904	143	1	f	f	X
ajfa-12904	143	2	:	:	PUNCT
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ajfa-12904	143	18	:	:	PUNCT
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ajfa-12904	143	33	h	h	NOUN
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ajfa-12904	143	51	:	:	PUNCT
ajfa-12904	143	52	cfo	cfo	NOUN
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ajfa-12904	143	54	-0.010	-0.010	X
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ajfa-12904	143	67	:	:	PUNCT
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ajfa-12904	143	83	k	k	NOUN
ajfa-12904	143	84	:	:	PUNCT
ajfa-12904	143	85	leverage	leverage	NOUN
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ajfa-12904	143	93	0.144	0.144	NUM
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ajfa-12904	143	99	l	l	NOUN
ajfa-12904	143	100	:	:	PUNCT
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ajfa-12904	143	116	:	:	PUNCT
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ajfa-12904	143	131	n	n	CCONJ
ajfa-12904	143	132	:	:	PUNCT
ajfa-12904	143	133	solvency	solvency	NOUN
ajfa-12904	143	134	0.320	0.320	NUM
ajfa-12904	143	135	-0.035	-0.035	NOUN
ajfa-12904	143	136	0.102	0.102	NUM
ajfa-12904	143	137	0.194	0.194	NUM
ajfa-12904	143	138	-0.722	-0.722	NUM
ajfa-12904	143	139	0.093	0.093	NUM
ajfa-12904	143	140	-0.093	-0.093	NOUN
ajfa-12904	143	141	-0.084	-0.084	NUM
ajfa-12904	143	142	0.045	0.045	NUM
ajfa-12904	143	143	0.067	0.067	NUM
ajfa-12904	143	144	0.008	0.008	NUM
ajfa-12904	143	145	0.076	0.076	NUM
ajfa-12904	143	146	-0.146	-0.146	ADJ
ajfa-12904	143	147	table	table	NOUN
ajfa-12904	143	148	2	2	NUM
ajfa-12904	143	149	presents	present	VERB
ajfa-12904	143	150	descriptive	descriptive	ADJ
ajfa-12904	143	151	statistics	statistic	NOUN
ajfa-12904	143	152	for	for	ADP
ajfa-12904	143	153	the	the	DET
ajfa-12904	143	154	sample	sample	NOUN
ajfa-12904	143	155	firms	firm	NOUN
ajfa-12904	143	156	.	.	PUNCT
ajfa-12904	144	1	in	in	ADP
ajfa-12904	144	2	panel	panel	NOUN
ajfa-12904	144	3	b	b	PROPN
ajfa-12904	144	4	,	,	PUNCT
ajfa-12904	144	5	pearson	pearson	PROPN
ajfa-12904	144	6	correlations	correlation	NOUN
ajfa-12904	144	7	are	be	AUX
ajfa-12904	144	8	shown	show	VERB
ajfa-12904	144	9	above	above	ADP
ajfa-12904	144	10	and	and	CCONJ
ajfa-12904	144	11	spearman	spearman	NOUN
ajfa-12904	144	12	correlations	correlation	NOUN
ajfa-12904	144	13	are	be	AUX
ajfa-12904	144	14	shown	show	VERB
ajfa-12904	144	15	below	below	ADP
ajfa-12904	144	16	the	the	DET
ajfa-12904	144	17	diagonal	diagonal	NOUN
ajfa-12904	144	18	.	.	PUNCT
ajfa-12904	145	1	variables	variable	NOUN
ajfa-12904	145	2	are	be	AUX
ajfa-12904	145	3	as	as	SCONJ
ajfa-12904	145	4	defined	define	VERB
ajfa-12904	145	5	in	in	ADP
ajfa-12904	145	6	appendix	appendix	ADJ
ajfa-12904	145	7	a.	a.	NOUN
ajfa-12904	145	8	panel	panel	PROPN
ajfa-12904	145	9	b	b	PROPN
ajfa-12904	145	10	of	of	ADP
ajfa-12904	145	11	table	table	NOUN
ajfa-12904	145	12	2	2	NUM
ajfa-12904	145	13	reports	report	VERB
ajfa-12904	145	14	the	the	DET
ajfa-12904	145	15	correlation	correlation	NOUN
ajfa-12904	145	16	of	of	ADP
ajfa-12904	145	17	the	the	DET
ajfa-12904	145	18	variables	variable	NOUN
ajfa-12904	145	19	.	.	PUNCT
ajfa-12904	146	1	pearson	pearson	PROPN
ajfa-12904	146	2	correlations	correlation	NOUN
ajfa-12904	146	3	are	be	AUX
ajfa-12904	146	4	presented	present	VERB
ajfa-12904	146	5	above	above	ADP
ajfa-12904	146	6	and	and	CCONJ
ajfa-12904	146	7	spearman	spearman	NOUN
ajfa-12904	146	8	correlations	correlation	NOUN
ajfa-12904	146	9	are	be	AUX
ajfa-12904	146	10	presented	present	VERB
ajfa-12904	146	11	below	below	ADP
ajfa-12904	146	12	the	the	DET
ajfa-12904	146	13	diagonal	diagonal	NOUN
ajfa-12904	146	14	.	.	PUNCT
ajfa-12904	147	1	the	the	DET
ajfa-12904	147	2	correlations	correlation	NOUN
ajfa-12904	147	3	between	between	ADP
ajfa-12904	147	4	dependent	dependent	ADJ
ajfa-12904	147	5	and	and	CCONJ
ajfa-12904	147	6	independent	independent	ADJ
ajfa-12904	147	7	variables	variable	NOUN
ajfa-12904	147	8	are	be	AUX
ajfa-12904	147	9	generally	generally	ADV
ajfa-12904	147	10	low	low	ADJ
ajfa-12904	147	11	to	to	PART
ajfa-12904	147	12	moderate	moderate	VERB
ajfa-12904	147	13	.	.	PUNCT
ajfa-12904	148	1	although	although	SCONJ
ajfa-12904	148	2	there	there	PRON
ajfa-12904	148	3	are	be	VERB
ajfa-12904	148	4	a	a	DET
ajfa-12904	148	5	few	few	ADJ
ajfa-12904	148	6	independent	independent	ADJ
ajfa-12904	148	7	variables	variable	NOUN
ajfa-12904	148	8	(	(	PUNCT
ajfa-12904	148	9	such	such	ADJ
ajfa-12904	148	10	as	as	ADP
ajfa-12904	148	11	net	net	ADJ
ajfa-12904	148	12	income	income	NOUN
ajfa-12904	148	13	and	and	CCONJ
ajfa-12904	148	14	ebit	ebit	PROPN
ajfa-12904	148	15	)	)	PUNCT
ajfa-12904	148	16	that	that	PRON
ajfa-12904	148	17	show	show	VERB
ajfa-12904	148	18	high	high	ADJ
ajfa-12904	148	19	correlations	correlation	NOUN
ajfa-12904	148	20	due	due	ADJ
ajfa-12904	148	21	to	to	ADP
ajfa-12904	148	22	mechanic	mechanic	ADJ
ajfa-12904	148	23	reasons	reason	NOUN
ajfa-12904	148	24	,	,	PUNCT
ajfa-12904	148	25	further	further	ADJ
ajfa-12904	148	26	examination	examination	NOUN
ajfa-12904	148	27	reveals	reveal	VERB
ajfa-12904	148	28	that	that	SCONJ
ajfa-12904	148	29	these	these	DET
ajfa-12904	148	30	relations	relation	NOUN
ajfa-12904	148	31	do	do	AUX
ajfa-12904	148	32	not	not	PART
ajfa-12904	148	33	result	result	VERB
ajfa-12904	148	34	in	in	ADP
ajfa-12904	148	35	multicollinearity	multicollinearity	NOUN
ajfa-12904	148	36	issue	issue	NOUN
ajfa-12904	148	37	(	(	PUNCT
ajfa-12904	148	38	i.e.	i.e.	X
ajfa-12904	148	39	variance	variance	NOUN
ajfa-12904	148	40	inflation	inflation	NOUN
ajfa-12904	148	41	factor	factor	NOUN
ajfa-12904	148	42	or	or	CCONJ
ajfa-12904	148	43	vif<4	vif<4	NUM
ajfa-12904	148	44	)	)	PUNCT
ajfa-12904	148	45	.	.	PUNCT
ajfa-12904	149	1	4.2	4.2	NUM
ajfa-12904	149	2	regression	regression	NOUN
ajfa-12904	149	3	analysis	analysis	NOUN
ajfa-12904	149	4	table	table	NOUN
ajfa-12904	149	5	3	3	NUM
ajfa-12904	149	6	presents	present	VERB
ajfa-12904	149	7	the	the	DET
ajfa-12904	149	8	regression	regression	NOUN
ajfa-12904	149	9	results	result	NOUN
ajfa-12904	149	10	for	for	ADP
ajfa-12904	149	11	h1	h1	VERB
ajfa-12904	149	12	the	the	DET
ajfa-12904	149	13	association	association	NOUN
ajfa-12904	149	14	between	between	ADP
ajfa-12904	149	15	earnings	earning	NOUN
ajfa-12904	149	16	smoothing	smoothing	NOUN
ajfa-12904	149	17	and	and	CCONJ
ajfa-12904	149	18	bankruptcy	bankruptcy	NOUN
ajfa-12904	149	19	risk	risk	NOUN
ajfa-12904	149	20	.	.	PUNCT
ajfa-12904	150	1	the	the	DET
ajfa-12904	150	2	main	main	ADJ
ajfa-12904	150	3	independent	independent	ADJ
ajfa-12904	150	4	variable	variable	NOUN
ajfa-12904	150	5	,	,	PUNCT
ajfa-12904	150	6	smooth	smooth	ADJ
ajfa-12904	150	7	,	,	PUNCT
ajfa-12904	150	8	is	be	AUX
ajfa-12904	150	9	measured	measure	VERB
ajfa-12904	150	10	using	use	VERB
ajfa-12904	150	11	model	model	NOUN
ajfa-12904	150	12	3	3	NUM
ajfa-12904	150	13	.	.	PUNCT
ajfa-12904	151	1	the	the	DET
ajfa-12904	151	2	regression	regression	NOUN
ajfa-12904	151	3	results	result	NOUN
ajfa-12904	151	4	show	show	VERB
ajfa-12904	151	5	that	that	SCONJ
ajfa-12904	151	6	earnings	earning	NOUN
ajfa-12904	151	7	smoothing	smoothing	NOUN
ajfa-12904	151	8	is	be	AUX
ajfa-12904	151	9	negatively	negatively	ADV
ajfa-12904	151	10	and	and	CCONJ
ajfa-12904	151	11	significantly	significantly	ADV
ajfa-12904	151	12	affecting	affect	VERB
ajfa-12904	151	13	bankruptcy	bankruptcy	NOUN
ajfa-12904	151	14	risk	risk	NOUN
ajfa-12904	151	15	,	,	PUNCT
ajfa-12904	151	16	rejecting	reject	VERB
ajfa-12904	151	17	null	null	ADJ
ajfa-12904	151	18	hypothesis	hypothesis	NOUN
ajfa-12904	151	19	for	for	ADP
ajfa-12904	151	20	h1	h1	PROPN
ajfa-12904	151	21	.	.	PUNCT
ajfa-12904	152	1	the	the	DET
ajfa-12904	152	2	results	result	NOUN
ajfa-12904	152	3	suggest	suggest	VERB
ajfa-12904	152	4	that	that	SCONJ
ajfa-12904	152	5	firms	firm	NOUN
ajfa-12904	152	6	with	with	ADP
ajfa-12904	152	7	higher	high	ADJ
ajfa-12904	152	8	bankruptcy	bankruptcy	NOUN
ajfa-12904	152	9	risk	risk	NOUN
ajfa-12904	152	10	smooth	smooth	VERB
ajfa-12904	152	11	less	less	ADV
ajfa-12904	152	12	.	.	PUNCT
ajfa-12904	153	1	the	the	DET
ajfa-12904	153	2	result	result	NOUN
ajfa-12904	153	3	is	be	AUX
ajfa-12904	153	4	similar	similar	ADJ
ajfa-12904	153	5	with	with	ADP
ajfa-12904	153	6	previous	previous	ADJ
ajfa-12904	153	7	research	research	NOUN
ajfa-12904	153	8	which	which	PRON
ajfa-12904	153	9	find	find	VERB
ajfa-12904	153	10	firms	firm	NOUN
ajfa-12904	153	11	with	with	ADP
ajfa-12904	153	12	higher	high	ADJ
ajfa-12904	153	13	earnings	earning	NOUN
ajfa-12904	153	14	smoothing	smoothing	NOUN
ajfa-12904	153	15	has	have	VERB
ajfa-12904	153	16	lower	low	ADJ
ajfa-12904	153	17	likelihood	likelihood	NOUN
ajfa-12904	153	18	of	of	ADP
ajfa-12904	153	19	spurious	spurious	ADJ
ajfa-12904	153	20	technical	technical	ADJ
ajfa-12904	153	21	default	default	NOUN
ajfa-12904	153	22	(	(	PUNCT
ajfa-12904	153	23	demerjian	demerjian	PROPN
ajfa-12904	153	24	et	et	PROPN
ajfa-12904	153	25	al	al	PROPN
ajfa-12904	153	26	.	.	PROPN
ajfa-12904	153	27	,	,	PUNCT
ajfa-12904	153	28	2017	2017	NUM
ajfa-12904	153	29	)	)	PUNCT
ajfa-12904	153	30	.	.	PUNCT
ajfa-12904	154	1	this	this	DET
ajfa-12904	154	2	finding	finding	NOUN
ajfa-12904	154	3	implies	imply	VERB
ajfa-12904	154	4	that	that	SCONJ
ajfa-12904	154	5	financially	financially	ADV
ajfa-12904	154	6	distressed	distressed	ADJ
ajfa-12904	154	7	firms	firm	NOUN
ajfa-12904	154	8	have	have	AUX
ajfa-12904	154	9	run	run	VERB
ajfa-12904	154	10	out	out	ADP
ajfa-12904	154	11	of	of	ADP
ajfa-12904	154	12	chances	chance	NOUN
ajfa-12904	154	13	to	to	PART
ajfa-12904	154	14	garble	garble	VERB
ajfa-12904	154	15	information	information	NOUN
ajfa-12904	154	16	via	via	ADP
ajfa-12904	154	17	accrual	accrual	ADJ
ajfa-12904	154	18	earnings	earning	NOUN
ajfa-12904	154	19	smoothing	smoothing	NOUN
ajfa-12904	154	20	.	.	PUNCT
ajfa-12904	155	1	additional	additional	ADJ
ajfa-12904	155	2	regression	regression	NOUN
ajfa-12904	155	3	analyses	analysis	NOUN
ajfa-12904	155	4	;	;	PUNCT
ajfa-12904	155	5	smooth	smooth	ADJ
ajfa-12904	155	6	being	be	AUX
ajfa-12904	155	7	measured	measure	VERB
ajfa-12904	155	8	with	with	ADP
ajfa-12904	155	9	four	four	NUM
ajfa-12904	155	10	and	and	CCONJ
ajfa-12904	155	11	five	five	NUM
ajfa-12904	155	12	years	year	NOUN
ajfa-12904	155	13	’	'	PUNCT
ajfa-12904	155	14	data	datum	NOUN
ajfa-12904	155	15	(	(	PUNCT
ajfa-12904	155	16	using	use	VERB
ajfa-12904	155	17	unbalanced	unbalanced	ADJ
ajfa-12904	155	18	panel	panel	NOUN
ajfa-12904	155	19	)	)	PUNCT
ajfa-12904	155	20	,	,	PUNCT
ajfa-12904	155	21	find	find	VERB
ajfa-12904	155	22	similar	similar	ADJ
ajfa-12904	155	23	results	result	NOUN
ajfa-12904	155	24	to	to	ADP
ajfa-12904	155	25	the	the	DET
ajfa-12904	155	26	result	result	NOUN
ajfa-12904	155	27	of	of	ADP
ajfa-12904	155	28	smooth	smooth	ADJ
ajfa-12904	155	29	using	use	VERB
ajfa-12904	155	30	three	three	NUM
ajfa-12904	155	31	years	year	NOUN
ajfa-12904	155	32	data	datum	NOUN
ajfa-12904	155	33	.	.	PUNCT
ajfa-12904	156	1	however	however	ADV
ajfa-12904	156	2	,	,	PUNCT
ajfa-12904	156	3	the	the	DET
ajfa-12904	156	4	value	value	NOUN
ajfa-12904	156	5	of	of	ADP
ajfa-12904	156	6	the	the	DET
ajfa-12904	156	7	coefficient	coefficient	NOUN
ajfa-12904	156	8	and	and	CCONJ
ajfa-12904	156	9	t	t	NOUN
ajfa-12904	156	10	for	for	ADP
ajfa-12904	156	11	smooth	smooth	ADJ
ajfa-12904	156	12	using	using	NOUN
ajfa-12904	156	13	and	and	CCONJ
ajfa-12904	156	14	five	five	NUM
ajfa-12904	156	15	years	year	NOUN
ajfa-12904	156	16	data	datum	NOUN
ajfa-12904	156	17	are	be	AUX
ajfa-12904	156	18	higher	high	ADJ
ajfa-12904	156	19	than	than	ADP
ajfa-12904	156	20	three	three	NUM
ajfa-12904	156	21	years	year	NOUN
ajfa-12904	156	22	data	datum	NOUN
ajfa-12904	156	23	.	.	PUNCT
ajfa-12904	157	1	the	the	DET
ajfa-12904	157	2	value	value	NOUN
ajfa-12904	157	3	of	of	ADP
ajfa-12904	157	4	r	r	NOUN
ajfa-12904	157	5	-	-	PUNCT
ajfa-12904	157	6	squared	square	VERB
ajfa-12904	157	7	is	be	AUX
ajfa-12904	157	8	slightly	slightly	ADV
ajfa-12904	157	9	higher	high	ADJ
ajfa-12904	157	10	using	use	VERB
ajfa-12904	157	11	four	four	NUM
ajfa-12904	157	12	years	year	NOUN
ajfa-12904	157	13	data	datum	NOUN
ajfa-12904	157	14	(	(	PUNCT
ajfa-12904	157	15	98.5	98.5	NUM
ajfa-12904	157	16	asian	asian	ADJ
ajfa-12904	157	17	journal	journal	NOUN
ajfa-12904	157	18	of	of	ADP
ajfa-12904	157	19	finance	finance	PROPN
ajfa-12904	157	20	&	&	CCONJ
ajfa-12904	157	21	accounting	accounting	PROPN
ajfa-12904	157	22	issn	issn	PROPN
ajfa-12904	157	23	1946	1946	NUM
ajfa-12904	157	24	-	-	PUNCT
ajfa-12904	157	25	052x	052x	NOUN
ajfa-12904	157	26	2018	2018	NUM
ajfa-12904	157	27	,	,	PUNCT
ajfa-12904	157	28	vol	vol	NOUN
ajfa-12904	157	29	.	.	PROPN
ajfa-12904	157	30	10	10	NUM
ajfa-12904	157	31	,	,	PUNCT
ajfa-12904	157	32	no	no	INTJ
ajfa-12904	157	33	.	.	NOUN
ajfa-12904	157	34	1	1	NUM
ajfa-12904	157	35	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-12904	157	36	171	171	NUM
ajfa-12904	157	37	percent	percent	NOUN
ajfa-12904	157	38	)	)	PUNCT
ajfa-12904	157	39	as	as	SCONJ
ajfa-12904	157	40	compared	compare	VERB
ajfa-12904	157	41	to	to	ADP
ajfa-12904	157	42	three	three	NUM
ajfa-12904	157	43	years	year	NOUN
ajfa-12904	157	44	data	datum	NOUN
ajfa-12904	157	45	(	(	PUNCT
ajfa-12904	157	46	95.5	95.5	NUM
ajfa-12904	157	47	percent	percent	NOUN
ajfa-12904	157	48	)	)	PUNCT
ajfa-12904	157	49	,	,	PUNCT
ajfa-12904	157	50	but	but	CCONJ
ajfa-12904	157	51	reduces	reduce	VERB
ajfa-12904	157	52	significantly	significantly	ADV
ajfa-12904	157	53	for	for	ADP
ajfa-12904	157	54	smooth	smooth	ADJ
ajfa-12904	157	55	using	use	VERB
ajfa-12904	157	56	five	five	NUM
ajfa-12904	157	57	years	year	NOUN
ajfa-12904	157	58	data	datum	NOUN
ajfa-12904	157	59	(	(	PUNCT
ajfa-12904	157	60	57.8	57.8	NUM
ajfa-12904	157	61	percent	percent	NOUN
ajfa-12904	157	62	)	)	PUNCT
ajfa-12904	157	63	.	.	PUNCT
ajfa-12904	158	1	based	base	VERB
ajfa-12904	158	2	on	on	ADP
ajfa-12904	158	3	the	the	DET
ajfa-12904	158	4	regression	regression	NOUN
ajfa-12904	158	5	results	result	NOUN
ajfa-12904	158	6	,	,	PUNCT
ajfa-12904	158	7	smooth	smooth	ADJ
ajfa-12904	158	8	variable	variable	NOUN
ajfa-12904	158	9	using	use	VERB
ajfa-12904	158	10	three	three	NUM
ajfa-12904	158	11	years	year	NOUN
ajfa-12904	158	12	data	datum	NOUN
ajfa-12904	158	13	is	be	AUX
ajfa-12904	158	14	the	the	DET
ajfa-12904	158	15	best	good	ADJ
ajfa-12904	158	16	to	to	PART
ajfa-12904	158	17	explain	explain	VERB
ajfa-12904	158	18	the	the	DET
ajfa-12904	158	19	relation	relation	NOUN
ajfa-12904	158	20	between	between	ADP
ajfa-12904	158	21	earnings	earning	NOUN
ajfa-12904	158	22	smoothing	smoothing	NOUN
ajfa-12904	158	23	and	and	CCONJ
ajfa-12904	158	24	bankruptcy	bankruptcy	NOUN
ajfa-12904	158	25	risk	risk	NOUN
ajfa-12904	158	26	as	as	SCONJ
ajfa-12904	158	27	compared	compare	VERB
ajfa-12904	158	28	to	to	ADP
ajfa-12904	158	29	using	use	VERB
ajfa-12904	158	30	four	four	NUM
ajfa-12904	158	31	and	and	CCONJ
ajfa-12904	158	32	five	five	NUM
ajfa-12904	158	33	years	year	NOUN
ajfa-12904	158	34	data	datum	NOUN
ajfa-12904	158	35	because	because	SCONJ
ajfa-12904	158	36	more	more	ADJ
ajfa-12904	158	37	samples	sample	NOUN
ajfa-12904	158	38	are	be	AUX
ajfa-12904	158	39	included	include	VERB
ajfa-12904	158	40	in	in	ADP
ajfa-12904	158	41	the	the	DET
ajfa-12904	158	42	analysis	analysis	NOUN
ajfa-12904	158	43	,	,	PUNCT
ajfa-12904	158	44	and	and	CCONJ
ajfa-12904	158	45	therefore	therefore	ADV
ajfa-12904	158	46	the	the	DET
ajfa-12904	158	47	result	result	NOUN
ajfa-12904	158	48	is	be	AUX
ajfa-12904	158	49	more	more	ADV
ajfa-12904	158	50	generalizable	generalizable	ADJ
ajfa-12904	158	51	.	.	PUNCT
ajfa-12904	159	1	the	the	DET
ajfa-12904	159	2	regression	regression	NOUN
ajfa-12904	159	3	results	result	VERB
ajfa-12904	159	4	in	in	ADP
ajfa-12904	159	5	table	table	NOUN
ajfa-12904	159	6	3	3	NUM
ajfa-12904	159	7	also	also	ADV
ajfa-12904	159	8	show	show	VERB
ajfa-12904	159	9	that	that	SCONJ
ajfa-12904	159	10	firms	firm	NOUN
ajfa-12904	159	11	with	with	ADP
ajfa-12904	159	12	lower	low	ADJ
ajfa-12904	159	13	profitability	profitability	NOUN
ajfa-12904	159	14	and	and	CCONJ
ajfa-12904	159	15	lower	low	ADJ
ajfa-12904	159	16	liquidity	liquidity	NOUN
ajfa-12904	159	17	are	be	AUX
ajfa-12904	159	18	associated	associate	VERB
ajfa-12904	159	19	with	with	ADP
ajfa-12904	159	20	higher	high	ADJ
ajfa-12904	159	21	bankruptcy	bankruptcy	NOUN
ajfa-12904	159	22	risk	risk	NOUN
ajfa-12904	159	23	,	,	PUNCT
ajfa-12904	159	24	and	and	CCONJ
ajfa-12904	159	25	the	the	DET
ajfa-12904	159	26	relations	relation	NOUN
ajfa-12904	159	27	are	be	AUX
ajfa-12904	159	28	statistically	statistically	ADV
ajfa-12904	159	29	significant	significant	ADJ
ajfa-12904	159	30	.	.	PUNCT
ajfa-12904	160	1	the	the	DET
ajfa-12904	160	2	results	result	NOUN
ajfa-12904	160	3	also	also	ADV
ajfa-12904	160	4	show	show	VERB
ajfa-12904	160	5	that	that	SCONJ
ajfa-12904	160	6	firms	firm	NOUN
ajfa-12904	160	7	with	with	ADP
ajfa-12904	160	8	higher	high	ADJ
ajfa-12904	160	9	leverage	leverage	NOUN
ajfa-12904	160	10	,	,	PUNCT
ajfa-12904	160	11	and	and	CCONJ
ajfa-12904	160	12	higher	high	ADJ
ajfa-12904	160	13	insolvency	insolvency	NOUN
ajfa-12904	160	14	are	be	AUX
ajfa-12904	160	15	associated	associate	VERB
ajfa-12904	160	16	with	with	ADP
ajfa-12904	160	17	higher	high	ADJ
ajfa-12904	160	18	bankruptcy	bankruptcy	NOUN
ajfa-12904	160	19	risk	risk	NOUN
ajfa-12904	160	20	;	;	PUNCT
ajfa-12904	160	21	however	however	ADV
ajfa-12904	160	22	the	the	DET
ajfa-12904	160	23	relations	relation	NOUN
ajfa-12904	160	24	are	be	AUX
ajfa-12904	160	25	not	not	PART
ajfa-12904	160	26	statistically	statistically	ADV
ajfa-12904	160	27	significant	significant	ADJ
ajfa-12904	160	28	.	.	PUNCT
ajfa-12904	161	1	to	to	PART
ajfa-12904	161	2	test	test	VERB
ajfa-12904	161	3	h2	h2	NOUN
ajfa-12904	161	4	to	to	PART
ajfa-12904	161	5	examine	examine	VERB
ajfa-12904	161	6	whether	whether	SCONJ
ajfa-12904	161	7	private	private	ADJ
ajfa-12904	161	8	firms	firm	NOUN
ajfa-12904	161	9	engage	engage	VERB
ajfa-12904	161	10	in	in	ADP
ajfa-12904	161	11	more	more	ADJ
ajfa-12904	161	12	earnings	earning	NOUN
ajfa-12904	161	13	smoothing	smoothing	NOUN
ajfa-12904	161	14	as	as	SCONJ
ajfa-12904	161	15	they	they	PRON
ajfa-12904	161	16	are	be	AUX
ajfa-12904	161	17	getting	get	VERB
ajfa-12904	161	18	more	more	ADV
ajfa-12904	161	19	distressed	distressed	ADJ
ajfa-12904	161	20	,	,	PUNCT
ajfa-12904	161	21	paired	pair	VERB
ajfa-12904	161	22	t	t	NOUN
ajfa-12904	161	23	-	-	PUNCT
ajfa-12904	161	24	test	test	NOUN
ajfa-12904	161	25	of	of	ADP
ajfa-12904	161	26	a	a	DET
ajfa-12904	161	27	balanced	balanced	ADJ
ajfa-12904	161	28	panel	panel	NOUN
ajfa-12904	161	29	of	of	ADP
ajfa-12904	161	30	173	173	NUM
ajfa-12904	161	31	samples	sample	NOUN
ajfa-12904	161	32	,	,	PUNCT
ajfa-12904	161	33	is	be	AUX
ajfa-12904	161	34	used	use	VERB
ajfa-12904	161	35	.	.	PUNCT
ajfa-12904	162	1	table	table	NOUN
ajfa-12904	162	2	4	4	NUM
ajfa-12904	162	3	presents	present	VERB
ajfa-12904	162	4	the	the	DET
ajfa-12904	162	5	results	result	NOUN
ajfa-12904	162	6	between	between	ADP
ajfa-12904	162	7	earnings	earning	NOUN
ajfa-12904	162	8	smoothing	smoothing	NOUN
ajfa-12904	162	9	and	and	CCONJ
ajfa-12904	162	10	bankruptcy	bankruptcy	NOUN
ajfa-12904	162	11	risk	risk	NOUN
ajfa-12904	162	12	-	-	PUNCT
ajfa-12904	162	13	related	relate	VERB
ajfa-12904	162	14	variables	variable	NOUN
ajfa-12904	162	15	,	,	PUNCT
ajfa-12904	162	16	using	use	VERB
ajfa-12904	162	17	data	datum	NOUN
ajfa-12904	162	18	of	of	ADP
ajfa-12904	162	19	one	one	NUM
ajfa-12904	162	20	,	,	PUNCT
ajfa-12904	162	21	two	two	NUM
ajfa-12904	162	22	and	and	CCONJ
ajfa-12904	162	23	three	three	NUM
ajfa-12904	162	24	years	year	NOUN
ajfa-12904	162	25	prior	prior	ADV
ajfa-12904	162	26	to	to	ADP
ajfa-12904	162	27	liquidation	liquidation	NOUN
ajfa-12904	162	28	.	.	PUNCT
ajfa-12904	163	1	the	the	DET
ajfa-12904	163	2	paired	pair	VERB
ajfa-12904	163	3	t	t	NOUN
ajfa-12904	163	4	-	-	PUNCT
ajfa-12904	163	5	test	test	NOUN
ajfa-12904	163	6	finds	find	VERB
ajfa-12904	163	7	weak	weak	ADJ
ajfa-12904	163	8	evidence	evidence	NOUN
ajfa-12904	163	9	that	that	SCONJ
ajfa-12904	163	10	firms	firm	NOUN
ajfa-12904	163	11	engage	engage	VERB
ajfa-12904	163	12	with	with	ADP
ajfa-12904	163	13	less	less	ADJ
ajfa-12904	163	14	earnings	earning	NOUN
ajfa-12904	163	15	smoothing	smoothing	NOUN
ajfa-12904	163	16	as	as	SCONJ
ajfa-12904	163	17	they	they	PRON
ajfa-12904	163	18	are	be	AUX
ajfa-12904	163	19	getting	get	VERB
ajfa-12904	163	20	more	more	ADV
ajfa-12904	163	21	distressed	distressed	ADJ
ajfa-12904	163	22	.	.	PUNCT
ajfa-12904	164	1	therefore	therefore	ADV
ajfa-12904	164	2	null	null	ADJ
ajfa-12904	164	3	hypothesis	hypothesis	NOUN
ajfa-12904	164	4	for	for	ADP
ajfa-12904	164	5	h2	h2	NOUN
ajfa-12904	164	6	private	private	ADJ
ajfa-12904	164	7	firms	firm	NOUN
ajfa-12904	164	8	do	do	AUX
ajfa-12904	164	9	not	not	PART
ajfa-12904	164	10	engage	engage	VERB
ajfa-12904	164	11	in	in	ADP
ajfa-12904	164	12	more	more	ADJ
ajfa-12904	164	13	earnings	earning	NOUN
ajfa-12904	164	14	smoothing	smoothing	NOUN
ajfa-12904	164	15	as	as	SCONJ
ajfa-12904	164	16	they	they	PRON
ajfa-12904	164	17	are	be	AUX
ajfa-12904	164	18	getting	get	VERB
ajfa-12904	164	19	more	more	ADV
ajfa-12904	164	20	distressed	distressed	ADJ
ajfa-12904	164	21	,	,	PUNCT
ajfa-12904	164	22	is	be	AUX
ajfa-12904	164	23	not	not	PART
ajfa-12904	164	24	rejected	reject	VERB
ajfa-12904	164	25	.	.	PUNCT
ajfa-12904	165	1	further	further	ADJ
ajfa-12904	165	2	examination	examination	NOUN
ajfa-12904	165	3	(	(	PUNCT
ajfa-12904	165	4	table	table	NOUN
ajfa-12904	165	5	5	5	NUM
ajfa-12904	165	6	)	)	PUNCT
ajfa-12904	165	7	shows	show	VERB
ajfa-12904	165	8	that	that	SCONJ
ajfa-12904	165	9	this	this	DET
ajfa-12904	165	10	relation	relation	NOUN
ajfa-12904	165	11	is	be	AUX
ajfa-12904	165	12	due	due	ADJ
ajfa-12904	165	13	to	to	ADP
ajfa-12904	165	14	the	the	DET
ajfa-12904	165	15	monitoring	monitoring	NOUN
ajfa-12904	165	16	effect	effect	NOUN
ajfa-12904	165	17	from	from	ADP
ajfa-12904	165	18	creditors	creditor	NOUN
ajfa-12904	165	19	.	.	PUNCT
ajfa-12904	166	1	regression	regression	VERB
ajfa-12904	166	2	analysis	analysis	NOUN
ajfa-12904	166	3	shows	show	VERB
ajfa-12904	166	4	that	that	SCONJ
ajfa-12904	166	5	private	private	ADJ
ajfa-12904	166	6	firms	firm	NOUN
ajfa-12904	166	7	with	with	ADP
ajfa-12904	166	8	more	more	ADJ
ajfa-12904	166	9	leverage	leverage	NOUN
ajfa-12904	166	10	have	have	VERB
ajfa-12904	166	11	lower	low	ADJ
ajfa-12904	166	12	earnings	earning	NOUN
ajfa-12904	166	13	smoothing	smoothing	NOUN
ajfa-12904	166	14	.	.	PUNCT
ajfa-12904	167	1	table	table	NOUN
ajfa-12904	167	2	3	3	NUM
ajfa-12904	167	3	.	.	PUNCT
ajfa-12904	167	4	earnings	earning	NOUN
ajfa-12904	167	5	smoothing	smooth	VERB
ajfa-12904	167	6	behavior	behavior	NOUN
ajfa-12904	167	7	and	and	CCONJ
ajfa-12904	167	8	bankruptcy	bankruptcy	NOUN
ajfa-12904	167	9	risk	risk	NOUN
ajfa-12904	167	10	3	3	NUM
ajfa-12904	167	11	years	year	NOUN
ajfa-12904	167	12	smoothing	smooth	VERB
ajfa-12904	167	13	4	4	NUM
ajfa-12904	167	14	years	year	NOUN
ajfa-12904	167	15	smoothing	smooth	VERB
ajfa-12904	167	16	5	5	NUM
ajfa-12904	167	17	years	year	NOUN
ajfa-12904	167	18	smoothing	smooth	VERB
ajfa-12904	167	19	variable	variable	ADJ
ajfa-12904	167	20	expected	expect	VERB
ajfa-12904	167	21	sign	sign	PROPN
ajfa-12904	167	22	coef	coef	PROPN
ajfa-12904	167	23	.	.	PROPN
ajfa-12904	168	1	t	t	PROPN
ajfa-12904	168	2	coef	coef	PROPN
ajfa-12904	168	3	.	.	PROPN
ajfa-12904	169	1	t	t	PROPN
ajfa-12904	169	2	coef	coef	PROPN
ajfa-12904	169	3	.	.	PUNCT
ajfa-12904	170	1	t	t	PROPN
ajfa-12904	170	2	smooth	smooth	PROPN
ajfa-12904	170	3	?	?	PUNCT
ajfa-12904	171	1	-0.5245	-0.5245	PUNCT
ajfa-12904	172	1	*	*	PUNCT
ajfa-12904	172	2	*	*	PUNCT
ajfa-12904	172	3	*	*	PUNCT
ajfa-12904	172	4	-4.36	-4.36	NUM
ajfa-12904	172	5	-1.2761	-1.2761	NOUN
ajfa-12904	172	6	*	*	NOUN
ajfa-12904	172	7	*	*	PUNCT
ajfa-12904	172	8	*	*	PUNCT
ajfa-12904	172	9	-9.89	-9.89	NUM
ajfa-12904	172	10	-1.5001	-1.5001	ADJ
ajfa-12904	172	11	*	*	PUNCT
ajfa-12904	172	12	*	*	PUNCT
ajfa-12904	172	13	*	*	PUNCT
ajfa-12904	172	14	-12.21	-12.21	NOUN
ajfa-12904	172	15	leverage	leverage	NOUN
ajfa-12904	172	16	positive	positive	ADJ
ajfa-12904	172	17	0.0000	0.0000	NUM
ajfa-12904	172	18	*	*	PUNCT
ajfa-12904	172	19	*	*	PUNCT
ajfa-12904	172	20	*	*	X
ajfa-12904	172	21	-0.85	-0.85	NUM
ajfa-12904	173	1	0.0000	0.0000	NUM
ajfa-12904	173	2	*	*	PUNCT
ajfa-12904	173	3	*	*	PUNCT
ajfa-12904	173	4	*	*	PUNCT
ajfa-12904	173	5	-1.1	-1.1	NUM
ajfa-12904	173	6	0.0000	0.0000	NUM
ajfa-12904	173	7	*	*	PUNCT
ajfa-12904	173	8	*	*	PUNCT
ajfa-12904	173	9	*	*	PUNCT
ajfa-12904	173	10	0.24	0.24	NUM
ajfa-12904	173	11	profitability	profitability	NOUN
ajfa-12904	173	12	negative	negative	ADJ
ajfa-12904	173	13	-18.4715	-18.4715	NOUN
ajfa-12904	173	14	*	*	PUNCT
ajfa-12904	173	15	*	*	PUNCT
ajfa-12904	173	16	*	*	PUNCT
ajfa-12904	173	17	-76.45	-76.45	PUNCT
ajfa-12904	173	18	-18.5176	-18.5176	PUNCT
ajfa-12904	173	19	*	*	PUNCT
ajfa-12904	173	20	*	*	PUNCT
ajfa-12904	173	21	*	*	PUNCT
ajfa-12904	173	22	-117.03	-117.03	ADJ
ajfa-12904	173	23	-10.0158	-10.0158	PUNCT
ajfa-12904	173	24	*	*	PUNCT
ajfa-12904	173	25	*	*	PUNCT
ajfa-12904	173	26	*	*	PUNCT
ajfa-12904	173	27	-8.49	-8.49	NUM
ajfa-12904	173	28	liquidity	liquidity	NOUN
ajfa-12904	173	29	negative	negative	ADJ
ajfa-12904	173	30	-1.7461	-1.7461	NOUN
ajfa-12904	173	31	*	*	PUNCT
ajfa-12904	173	32	*	*	PUNCT
ajfa-12904	173	33	*	*	PUNCT
ajfa-12904	173	34	-3.02	-3.02	NUM
ajfa-12904	173	35	-1.6534	-1.6534	NOUN
ajfa-12904	173	36	*	*	PUNCT
ajfa-12904	173	37	*	*	PUNCT
ajfa-12904	173	38	*	*	PUNCT
ajfa-12904	173	39	-4.35	-4.35	ADJ
ajfa-12904	173	40	-1.9335	-1.9335	NOUN
ajfa-12904	173	41	*	*	PUNCT
ajfa-12904	173	42	*	*	PUNCT
ajfa-12904	173	43	*	*	PUNCT
ajfa-12904	173	44	-3.23	-3.23	INTJ
ajfa-12904	173	45	solvency	solvency	NOUN
ajfa-12904	173	46	positive	positive	ADJ
ajfa-12904	173	47	0.0001	0.0001	NUM
ajfa-12904	173	48	*	*	PUNCT
ajfa-12904	173	49	*	*	PUNCT
ajfa-12904	173	50	*	*	PUNCT
ajfa-12904	173	51	0.30	0.30	NUM
ajfa-12904	173	52	0.0001	0.0001	NUM
ajfa-12904	173	53	*	*	PUNCT
ajfa-12904	173	54	*	*	PUNCT
ajfa-12904	173	55	*	*	PROPN
ajfa-12904	173	56	0.66	0.66	NUM
ajfa-12904	173	57	-0.0010	-0.0010	NOUN
ajfa-12904	173	58	*	*	PUNCT
ajfa-12904	173	59	*	*	PUNCT
ajfa-12904	173	60	*	*	PUNCT
ajfa-12904	173	61	-0.86	-0.86	PUNCT
ajfa-12904	173	62	industry	industry	NOUN
ajfa-12904	173	63	fixed	fix	VERB
ajfa-12904	173	64	effect	effect	NOUN
ajfa-12904	173	65	0.0671	0.0671	NUM
ajfa-12904	173	66	*	*	PUNCT
ajfa-12904	173	67	*	*	PUNCT
ajfa-12904	173	68	*	*	PUNCT
ajfa-12904	173	69	3.66	3.66	NUM
ajfa-12904	173	70	0.0422	0.0422	NUM
ajfa-12904	173	71	*	*	PUNCT
ajfa-12904	173	72	*	*	PUNCT
ajfa-12904	173	73	*	*	PUNCT
ajfa-12904	173	74	3.03	3.03	NUM
ajfa-12904	173	75	0.0274	0.0274	NUM
ajfa-12904	173	76	*	*	PUNCT
ajfa-12904	173	77	*	*	PUNCT
ajfa-12904	173	78	*	*	PUNCT
ajfa-12904	173	79	2.11	2.11	NUM
ajfa-12904	173	80	constant	constant	ADJ
ajfa-12904	173	81	-2.4659	-2.4659	NOUN
ajfa-12904	173	82	*	*	PUNCT
ajfa-12904	173	83	*	*	PUNCT
ajfa-12904	173	84	*	*	PUNCT
ajfa-12904	173	85	-2.48	-2.48	X
ajfa-12904	173	86	-2.1596	-2.1596	NOUN
ajfa-12904	173	87	*	*	PUNCT
ajfa-12904	173	88	*	*	PUNCT
ajfa-12904	173	89	*	*	PUNCT
ajfa-12904	173	90	-2.95	-2.95	NOUN
ajfa-12904	173	91	-1.4471	-1.4471	NOUN
ajfa-12904	173	92	*	*	PUNCT
ajfa-12904	173	93	*	*	PUNCT
ajfa-12904	173	94	*	*	PUNCT
ajfa-12904	173	95	-2.27	-2.27	NUM
ajfa-12904	173	96	r	r	NOUN
ajfa-12904	173	97	-	-	PUNCT
ajfa-12904	173	98	squared	square	VERB
ajfa-12904	173	99	0.9552	0.9552	NUM
ajfa-12904	173	100	*	*	PUNCT
ajfa-12904	173	101	*	*	PUNCT
ajfa-12904	173	102	*	*	PUNCT
ajfa-12904	173	103	0.9849	0.9849	NUM
ajfa-12904	173	104	*	*	PUNCT
ajfa-12904	173	105	*	*	PUNCT
ajfa-12904	173	106	*	*	PUNCT
ajfa-12904	173	107	0.5775	0.5775	NUM
ajfa-12904	173	108	*	*	PUNCT
ajfa-12904	173	109	*	*	PUNCT
ajfa-12904	173	110	*	*	PUNCT
ajfa-12904	173	111	adjusted	adjusted	ADJ
ajfa-12904	173	112	r	r	NOUN
ajfa-12904	173	113	-	-	PUNCT
ajfa-12904	173	114	squared	square	VERB
ajfa-12904	173	115	0.9540	0.9540	NUM
ajfa-12904	173	116	*	*	PUNCT
ajfa-12904	173	117	*	*	PUNCT
ajfa-12904	173	118	*	*	PUNCT
ajfa-12904	173	119	0.9844	0.9844	NUM
ajfa-12904	173	120	*	*	PUNCT
ajfa-12904	173	121	*	*	PUNCT
ajfa-12904	173	122	*	*	PUNCT
ajfa-12904	173	123	0.5564	0.5564	NUM
ajfa-12904	173	124	*	*	PUNCT
ajfa-12904	173	125	*	*	PUNCT
ajfa-12904	173	126	*	*	PUNCT
ajfa-12904	173	127	n	n	PRON
ajfa-12904	173	128	283	283	NUM
ajfa-12904	173	129	*	*	PUNCT
ajfa-12904	173	130	*	*	PUNCT
ajfa-12904	173	131	*	*	PUNCT
ajfa-12904	173	132	219	219	NUM
ajfa-12904	173	133	*	*	PUNCT
ajfa-12904	173	134	*	*	PUNCT
ajfa-12904	173	135	*	*	NOUN
ajfa-12904	173	136	148	148	NUM
ajfa-12904	173	137	*	*	PUNCT
ajfa-12904	173	138	*	*	PUNCT
ajfa-12904	173	139	*	*	PUNCT
ajfa-12904	174	1	*	*	PUNCT
ajfa-12904	174	2	*	*	PUNCT
ajfa-12904	174	3	*	*	PUNCT
ajfa-12904	174	4	,	,	PUNCT
ajfa-12904	174	5	*	*	PUNCT
ajfa-12904	174	6	*	*	PUNCT
ajfa-12904	174	7	,	,	PUNCT
ajfa-12904	174	8	*	*	PUNCT
ajfa-12904	174	9	indicate	indicate	VERB
ajfa-12904	174	10	two	two	NUM
ajfa-12904	174	11	-	-	PUNCT
ajfa-12904	174	12	sided	sided	ADJ
ajfa-12904	174	13	significance	significance	NOUN
ajfa-12904	174	14	at	at	ADP
ajfa-12904	174	15	1	1	NUM
ajfa-12904	174	16	,	,	PUNCT
ajfa-12904	174	17	5	5	NUM
ajfa-12904	174	18	and	and	CCONJ
ajfa-12904	174	19	10	10	NUM
ajfa-12904	174	20	percent	percent	NOUN
ajfa-12904	174	21	levels	level	NOUN
ajfa-12904	174	22	,	,	PUNCT
ajfa-12904	174	23	respectively	respectively	ADV
ajfa-12904	174	24	.	.	PUNCT
ajfa-12904	175	1	table	table	NOUN
ajfa-12904	175	2	3	3	NUM
ajfa-12904	175	3	presents	present	VERB
ajfa-12904	175	4	the	the	DET
ajfa-12904	175	5	results	result	NOUN
ajfa-12904	175	6	of	of	ADP
ajfa-12904	175	7	income	income	NOUN
ajfa-12904	175	8	smoothing	smooth	VERB
ajfa-12904	175	9	behaviour	behaviour	NOUN
ajfa-12904	175	10	and	and	CCONJ
ajfa-12904	175	11	bankruptcy	bankruptcy	NOUN
ajfa-12904	175	12	risk	risk	NOUN
ajfa-12904	175	13	based	base	VERB
ajfa-12904	175	14	on	on	ADP
ajfa-12904	175	15	model	model	NOUN
ajfa-12904	175	16	1	1	NUM
ajfa-12904	175	17	,	,	PUNCT
ajfa-12904	175	18	with	with	ADP
ajfa-12904	175	19	z	z	NOUN
ajfa-12904	175	20	”	"	PUNCT
ajfa-12904	175	21	score	score	NOUN
ajfa-12904	175	22	of	of	ADP
ajfa-12904	175	23	more	more	ADJ
ajfa-12904	175	24	than	than	ADP
ajfa-12904	175	25	-2.90	-2.90	ADV
ajfa-12904	175	26	.	.	PUNCT
ajfa-12904	176	1	the	the	DET
ajfa-12904	176	2	main	main	ADJ
ajfa-12904	176	3	variable	variable	NOUN
ajfa-12904	176	4	,	,	PUNCT
ajfa-12904	176	5	smooth	smooth	ADJ
ajfa-12904	176	6	,	,	PUNCT
ajfa-12904	176	7	is	be	AUX
ajfa-12904	176	8	measured	measure	VERB
ajfa-12904	176	9	according	accord	VERB
ajfa-12904	176	10	to	to	ADP
ajfa-12904	176	11	model	model	NOUN
ajfa-12904	176	12	3	3	NUM
ajfa-12904	176	13	using	use	VERB
ajfa-12904	176	14	3	3	NUM
ajfa-12904	176	15	,	,	PUNCT
ajfa-12904	176	16	4	4	NUM
ajfa-12904	176	17	and	and	CCONJ
ajfa-12904	176	18	5	5	NUM
ajfa-12904	176	19	years	year	NOUN
ajfa-12904	176	20	of	of	ADP
ajfa-12904	176	21	data	datum	NOUN
ajfa-12904	176	22	.	.	PUNCT
ajfa-12904	177	1	the	the	DET
ajfa-12904	177	2	definition	definition	NOUN
ajfa-12904	177	3	for	for	ADP
ajfa-12904	177	4	all	all	DET
ajfa-12904	177	5	variables	variable	NOUN
ajfa-12904	177	6	can	can	AUX
ajfa-12904	177	7	be	be	AUX
ajfa-12904	177	8	found	find	VERB
ajfa-12904	177	9	in	in	ADP
ajfa-12904	177	10	appendix	appendix	ADJ
ajfa-12904	177	11	a.	a.	NOUN
ajfa-12904	177	12	asian	asian	PROPN
ajfa-12904	177	13	journal	journal	PROPN
ajfa-12904	177	14	of	of	ADP
ajfa-12904	177	15	finance	finance	PROPN
ajfa-12904	177	16	&	&	CCONJ
ajfa-12904	177	17	accounting	accounting	PROPN
ajfa-12904	177	18	issn	issn	PROPN
ajfa-12904	177	19	1946	1946	NUM
ajfa-12904	177	20	-	-	PUNCT
ajfa-12904	177	21	052x	052x	NOUN
ajfa-12904	177	22	2018	2018	NUM
ajfa-12904	177	23	,	,	PUNCT
ajfa-12904	177	24	vol	vol	NOUN
ajfa-12904	177	25	.	.	PROPN
ajfa-12904	178	1	10	10	NUM
ajfa-12904	178	2	,	,	PUNCT
ajfa-12904	178	3	no	no	INTJ
ajfa-12904	178	4	.	.	NOUN
ajfa-12904	178	5	1	1	NUM
ajfa-12904	178	6	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-12904	178	7	172	172	NUM
ajfa-12904	178	8	table	table	NOUN
ajfa-12904	178	9	4	4	NUM
ajfa-12904	178	10	.	.	PUNCT
ajfa-12904	179	1	earnings	earning	NOUN
ajfa-12904	179	2	smoothing	smooth	VERB
ajfa-12904	179	3	behaviour	behaviour	NOUN
ajfa-12904	179	4	prior	prior	ADV
ajfa-12904	179	5	to	to	ADP
ajfa-12904	179	6	liquidation	liquidation	NOUN
ajfa-12904	179	7	1	1	NUM
ajfa-12904	179	8	year	year	NOUN
ajfa-12904	179	9	prior	prior	ADV
ajfa-12904	179	10	(	(	PUNCT
ajfa-12904	179	11	a	a	X
ajfa-12904	179	12	)	)	PUNCT
ajfa-12904	179	13	2	2	NUM
ajfa-12904	179	14	years	year	NOUN
ajfa-12904	179	15	prior	prior	ADV
ajfa-12904	179	16	(	(	PUNCT
ajfa-12904	179	17	b	b	NOUN
ajfa-12904	179	18	)	)	PUNCT
ajfa-12904	179	19	3	3	NUM
ajfa-12904	179	20	years	year	NOUN
ajfa-12904	179	21	prior	prior	ADV
ajfa-12904	179	22	(	(	PUNCT
ajfa-12904	179	23	c	c	NOUN
ajfa-12904	179	24	)	)	PUNCT
ajfa-12904	179	25	variable	variable	ADJ
ajfa-12904	179	26	mean	mean	NOUN
ajfa-12904	179	27	mean	mean	NOUN
ajfa-12904	179	28	mean	mean	VERB
ajfa-12904	179	29	diff	diff	NOUN
ajfa-12904	179	30	(	(	PUNCT
ajfa-12904	179	31	a	a	PRON
ajfa-12904	179	32	-	-	PUNCT
ajfa-12904	179	33	b	b	NOUN
ajfa-12904	179	34	)	)	PUNCT
ajfa-12904	179	35	diff	diff	NOUN
ajfa-12904	179	36	(	(	PUNCT
ajfa-12904	179	37	a	a	DET
ajfa-12904	179	38	-	-	PUNCT
ajfa-12904	179	39	c	c	NOUN
ajfa-12904	179	40	)	)	PUNCT
ajfa-12904	179	41	diff	diff	NOUN
ajfa-12904	179	42	(	(	PUNCT
ajfa-12904	179	43	b	b	X
ajfa-12904	179	44	-	-	PUNCT
ajfa-12904	179	45	c	c	NOUN
ajfa-12904	179	46	)	)	PUNCT
ajfa-12904	179	47	smooth	smooth	ADJ
ajfa-12904	179	48	-1.4487	-1.4487	NOUN
ajfa-12904	179	49	-1.2600	-1.2600	PROPN
ajfa-12904	179	50	-1.1621	-1.1621	PROPN
ajfa-12904	179	51	-0.1887	-0.1887	PUNCT
ajfa-12904	180	1	*	*	PUNCT
ajfa-12904	180	2	*	*	PUNCT
ajfa-12904	181	1	-0.2866	-0.2866	PROPN
ajfa-12904	181	2	*	*	PUNCT
ajfa-12904	181	3	*	*	NOUN
ajfa-12904	181	4	-0.0978	-0.0978	NOUN
ajfa-12904	181	5	*	*	PUNCT
ajfa-12904	181	6	*	*	PUNCT
ajfa-12904	181	7	leverage	leverage	NOUN
ajfa-12904	181	8	1562.9870	1562.9870	NUM
ajfa-12904	181	9	1283.0640	1283.0640	NUM
ajfa-12904	181	10	534.4561	534.4561	NUM
ajfa-12904	181	11	279.9239	279.9239	NUM
ajfa-12904	181	12	*	*	NOUN
ajfa-12904	181	13	*	*	NOUN
ajfa-12904	181	14	1028.5310	1028.5310	PROPN
ajfa-12904	181	15	*	*	PROPN
ajfa-12904	181	16	*	*	PROPN
ajfa-12904	181	17	748.6074	748.6074	NUM
ajfa-12904	181	18	*	*	PUNCT
ajfa-12904	181	19	*	*	PROPN
ajfa-12904	181	20	profitability	profitability	NOUN
ajfa-12904	182	1	0.0210	0.0210	NUM
ajfa-12904	182	2	0.0435	0.0435	NUM
ajfa-12904	182	3	0.0552	0.0552	NUM
ajfa-12904	182	4	-0.0225	-0.0225	NOUN
ajfa-12904	182	5	*	*	PUNCT
ajfa-12904	182	6	*	*	PROPN
ajfa-12904	182	7	-0.0342	-0.0342	PROPN
ajfa-12904	182	8	*	*	PUNCT
ajfa-12904	182	9	*	*	PUNCT
ajfa-12904	183	1	-0.0117	-0.0117	ADJ
ajfa-12904	183	2	*	*	PUNCT
ajfa-12904	183	3	*	*	PUNCT
ajfa-12904	183	4	liquidity	liquidity	NOUN
ajfa-12904	183	5	0.5987	0.5987	NUM
ajfa-12904	183	6	0.3561	0.3561	NUM
ajfa-12904	183	7	0.3404	0.3404	NUM
ajfa-12904	183	8	0.2426	0.2426	NUM
ajfa-12904	183	9	*	*	PUNCT
ajfa-12904	183	10	*	*	PUNCT
ajfa-12904	184	1	0.2583	0.2583	NUM
ajfa-12904	184	2	*	*	PUNCT
ajfa-12904	184	3	*	*	PUNCT
ajfa-12904	184	4	0.0157	0.0157	NUM
ajfa-12904	184	5	*	*	PUNCT
ajfa-12904	184	6	*	*	NOUN
ajfa-12904	184	7	solvency	solvency	NOUN
ajfa-12904	184	8	51.3924	51.3924	NUM
ajfa-12904	184	9	61.2809	61.2809	NUM
ajfa-12904	184	10	63.9856	63.9856	NUM
ajfa-12904	184	11	-9.8885	-9.8885	NOUN
ajfa-12904	184	12	*	*	PUNCT
ajfa-12904	184	13	*	*	PUNCT
ajfa-12904	184	14	-12.5932	-12.5932	NUM
ajfa-12904	184	15	-2.7047	-2.7047	PROPN
ajfa-12904	184	16	*	*	PUNCT
ajfa-12904	184	17	*	*	PUNCT
ajfa-12904	185	1	*	*	PUNCT
ajfa-12904	185	2	*	*	PUNCT
ajfa-12904	185	3	*	*	PUNCT
ajfa-12904	185	4	,	,	PUNCT
ajfa-12904	185	5	*	*	PUNCT
ajfa-12904	185	6	*	*	PUNCT
ajfa-12904	185	7	,	,	PUNCT
ajfa-12904	185	8	*	*	PUNCT
ajfa-12904	185	9	indicate	indicate	VERB
ajfa-12904	185	10	two	two	NUM
ajfa-12904	185	11	-	-	PUNCT
ajfa-12904	185	12	sided	sided	ADJ
ajfa-12904	185	13	significance	significance	NOUN
ajfa-12904	185	14	at	at	ADP
ajfa-12904	185	15	1	1	NUM
ajfa-12904	185	16	,	,	PUNCT
ajfa-12904	185	17	5	5	NUM
ajfa-12904	185	18	and	and	CCONJ
ajfa-12904	185	19	10	10	NUM
ajfa-12904	185	20	percent	percent	NOUN
ajfa-12904	185	21	levels	level	NOUN
ajfa-12904	185	22	,	,	PUNCT
ajfa-12904	185	23	respectively	respectively	ADV
ajfa-12904	185	24	.	.	PUNCT
ajfa-12904	186	1	n=173	n=173	PROPN
ajfa-12904	186	2	table	table	NOUN
ajfa-12904	186	3	4	4	NUM
ajfa-12904	186	4	presents	present	VERB
ajfa-12904	186	5	the	the	DET
ajfa-12904	186	6	results	result	NOUN
ajfa-12904	186	7	of	of	ADP
ajfa-12904	186	8	paired	pair	VERB
ajfa-12904	186	9	t	t	NOUN
ajfa-12904	186	10	-	-	PUNCT
ajfa-12904	186	11	test	test	NOUN
ajfa-12904	186	12	of	of	ADP
ajfa-12904	186	13	a	a	DET
ajfa-12904	186	14	balanced	balanced	ADJ
ajfa-12904	186	15	panel	panel	NOUN
ajfa-12904	186	16	between	between	ADP
ajfa-12904	186	17	1	1	NUM
ajfa-12904	186	18	year	year	NOUN
ajfa-12904	186	19	,	,	PUNCT
ajfa-12904	186	20	2	2	NUM
ajfa-12904	186	21	years	year	NOUN
ajfa-12904	186	22	and	and	CCONJ
ajfa-12904	186	23	3	3	NUM
ajfa-12904	186	24	years	year	NOUN
ajfa-12904	186	25	prior	prior	ADV
ajfa-12904	186	26	to	to	ADP
ajfa-12904	186	27	liquidation	liquidation	NOUN
ajfa-12904	186	28	of	of	ADP
ajfa-12904	186	29	earnings	earning	NOUN
ajfa-12904	186	30	smoothing	smoothing	NOUN
ajfa-12904	186	31	and	and	CCONJ
ajfa-12904	186	32	bankruptcy	bankruptcy	NOUN
ajfa-12904	186	33	risk	risk	NOUN
ajfa-12904	186	34	-	-	PUNCT
ajfa-12904	186	35	related	relate	VERB
ajfa-12904	186	36	variables	variable	NOUN
ajfa-12904	186	37	.	.	PUNCT
ajfa-12904	187	1	the	the	DET
ajfa-12904	187	2	definition	definition	NOUN
ajfa-12904	187	3	for	for	ADP
ajfa-12904	187	4	all	all	DET
ajfa-12904	187	5	variables	variable	NOUN
ajfa-12904	187	6	can	can	AUX
ajfa-12904	187	7	be	be	AUX
ajfa-12904	187	8	found	find	VERB
ajfa-12904	187	9	in	in	ADP
ajfa-12904	187	10	appendix	appendix	ADJ
ajfa-12904	187	11	a.	a.	NOUN
ajfa-12904	187	12	meanwhile	meanwhile	ADV
ajfa-12904	187	13	,	,	PUNCT
ajfa-12904	187	14	firms	firm	NOUN
ajfa-12904	187	15	’	’	PART
ajfa-12904	187	16	profitability	profitability	NOUN
ajfa-12904	187	17	and	and	CCONJ
ajfa-12904	187	18	solvency	solvency	NOUN
ajfa-12904	187	19	are	be	AUX
ajfa-12904	187	20	the	the	DET
ajfa-12904	187	21	highest	high	ADJ
ajfa-12904	187	22	in	in	ADP
ajfa-12904	187	23	3	3	NUM
ajfa-12904	187	24	years	year	NOUN
ajfa-12904	187	25	prior	prior	ADV
ajfa-12904	187	26	to	to	ADP
ajfa-12904	187	27	the	the	DET
ajfa-12904	187	28	liquidation	liquidation	NOUN
ajfa-12904	187	29	as	as	SCONJ
ajfa-12904	187	30	compared	compare	VERB
ajfa-12904	187	31	to	to	ADP
ajfa-12904	187	32	one	one	NUM
ajfa-12904	187	33	and	and	CCONJ
ajfa-12904	187	34	two	two	NUM
ajfa-12904	187	35	years	year	NOUN
ajfa-12904	187	36	prior	prior	ADV
ajfa-12904	187	37	to	to	ADP
ajfa-12904	187	38	liquidation	liquidation	NOUN
ajfa-12904	187	39	while	while	SCONJ
ajfa-12904	187	40	firms	firm	NOUN
ajfa-12904	187	41	’	'	PUNCT
ajfa-12904	187	42	leverage	leverage	NOUN
ajfa-12904	187	43	and	and	CCONJ
ajfa-12904	187	44	liquidity	liquidity	NOUN
ajfa-12904	187	45	are	be	AUX
ajfa-12904	187	46	the	the	DET
ajfa-12904	187	47	highest	high	ADJ
ajfa-12904	187	48	in	in	ADP
ajfa-12904	187	49	the	the	DET
ajfa-12904	187	50	one	one	NUM
ajfa-12904	187	51	year	year	NOUN
ajfa-12904	187	52	prior	prior	ADV
ajfa-12904	187	53	to	to	ADP
ajfa-12904	187	54	liquidation	liquidation	NOUN
ajfa-12904	187	55	as	as	ADP
ajfa-12904	187	56	compared	compare	VERB
ajfa-12904	187	57	to	to	ADP
ajfa-12904	187	58	two	two	NUM
ajfa-12904	187	59	and	and	CCONJ
ajfa-12904	187	60	three	three	NUM
ajfa-12904	187	61	years	year	NOUN
ajfa-12904	187	62	prior	prior	ADV
ajfa-12904	187	63	to	to	ADP
ajfa-12904	187	64	liquidation	liquidation	NOUN
ajfa-12904	187	65	,	,	PUNCT
ajfa-12904	187	66	as	as	SCONJ
ajfa-12904	187	67	expected	expect	VERB
ajfa-12904	187	68	.	.	PUNCT
ajfa-12904	188	1	however	however	ADV
ajfa-12904	188	2	,	,	PUNCT
ajfa-12904	188	3	only	only	ADV
ajfa-12904	188	4	profitability	profitability	NOUN
ajfa-12904	188	5	and	and	CCONJ
ajfa-12904	188	6	liquidity	liquidity	NOUN
ajfa-12904	188	7	show	show	VERB
ajfa-12904	188	8	statistically	statistically	ADV
ajfa-12904	188	9	significant	significant	ADJ
ajfa-12904	188	10	differences	difference	NOUN
ajfa-12904	188	11	.	.	PUNCT
ajfa-12904	189	1	this	this	DET
ajfa-12904	189	2	finding	finding	NOUN
ajfa-12904	189	3	is	be	AUX
ajfa-12904	189	4	similar	similar	ADJ
ajfa-12904	189	5	to	to	ADP
ajfa-12904	189	6	akbar	akbar	PROPN
ajfa-12904	189	7	et	et	PROPN
ajfa-12904	189	8	al	al	PROPN
ajfa-12904	189	9	.	.	PROPN
ajfa-12904	190	1	(	(	PUNCT
ajfa-12904	190	2	2013	2013	NUM
ajfa-12904	190	3	)	)	PUNCT
ajfa-12904	190	4	who	who	PRON
ajfa-12904	190	5	find	find	VERB
ajfa-12904	190	6	that	that	SCONJ
ajfa-12904	190	7	private	private	ADJ
ajfa-12904	190	8	firms	firm	NOUN
ajfa-12904	190	9	hold	hold	VERB
ajfa-12904	190	10	more	more	ADJ
ajfa-12904	190	11	cash	cash	NOUN
ajfa-12904	190	12	when	when	SCONJ
ajfa-12904	190	13	they	they	PRON
ajfa-12904	190	14	are	be	AUX
ajfa-12904	190	15	in	in	ADP
ajfa-12904	190	16	distressed	distressed	ADJ
ajfa-12904	190	17	to	to	PART
ajfa-12904	190	18	hedge	hedge	VERB
ajfa-12904	190	19	against	against	ADP
ajfa-12904	190	20	the	the	DET
ajfa-12904	190	21	effect	effect	NOUN
ajfa-12904	190	22	of	of	ADP
ajfa-12904	190	23	bankruptcy	bankruptcy	NOUN
ajfa-12904	190	24	risk	risk	NOUN
ajfa-12904	190	25	.	.	PUNCT
ajfa-12904	191	1	5	5	X
ajfa-12904	191	2	.	.	X
ajfa-12904	191	3	conclusion	conclusion	NOUN
ajfa-12904	191	4	this	this	DET
ajfa-12904	191	5	study	study	NOUN
ajfa-12904	191	6	examines	examine	VERB
ajfa-12904	191	7	how	how	SCONJ
ajfa-12904	191	8	earnings	earning	NOUN
ajfa-12904	191	9	smoothing	smoothing	NOUN
ajfa-12904	191	10	affects	affect	VERB
ajfa-12904	191	11	the	the	DET
ajfa-12904	191	12	likelihood	likelihood	NOUN
ajfa-12904	191	13	of	of	ADP
ajfa-12904	191	14	bankruptcy	bankruptcy	NOUN
ajfa-12904	191	15	risk	risk	NOUN
ajfa-12904	191	16	in	in	ADP
ajfa-12904	191	17	liquidating	liquidate	VERB
ajfa-12904	191	18	private	private	ADJ
ajfa-12904	191	19	firms	firm	NOUN
ajfa-12904	191	20	in	in	ADP
ajfa-12904	191	21	uk	uk	PROPN
ajfa-12904	191	22	.	.	PROPN
ajfa-12904	191	23	firms	firm	NOUN
ajfa-12904	191	24	which	which	PRON
ajfa-12904	191	25	are	be	AUX
ajfa-12904	191	26	in	in	ADP
ajfa-12904	191	27	liquidation	liquidation	NOUN
ajfa-12904	191	28	from	from	ADP
ajfa-12904	191	29	2012	2012	NUM
ajfa-12904	191	30	to	to	ADP
ajfa-12904	191	31	2017	2017	NUM
ajfa-12904	191	32	are	be	AUX
ajfa-12904	191	33	used	use	VERB
ajfa-12904	191	34	as	as	ADP
ajfa-12904	191	35	the	the	DET
ajfa-12904	191	36	sample	sample	NOUN
ajfa-12904	191	37	.	.	PUNCT
ajfa-12904	192	1	it	it	PRON
ajfa-12904	192	2	is	be	AUX
ajfa-12904	192	3	found	find	VERB
ajfa-12904	192	4	that	that	SCONJ
ajfa-12904	192	5	earnings	earning	NOUN
ajfa-12904	192	6	smoothing	smoothing	NOUN
ajfa-12904	192	7	is	be	AUX
ajfa-12904	192	8	negatively	negatively	ADV
ajfa-12904	192	9	associated	associate	VERB
ajfa-12904	192	10	with	with	ADP
ajfa-12904	192	11	bankruptcy	bankruptcy	NOUN
ajfa-12904	192	12	risk	risk	NOUN
ajfa-12904	192	13	which	which	PRON
ajfa-12904	192	14	indicates	indicate	VERB
ajfa-12904	192	15	that	that	SCONJ
ajfa-12904	192	16	private	private	ADJ
ajfa-12904	192	17	firms	firm	NOUN
ajfa-12904	192	18	engage	engage	VERB
ajfa-12904	192	19	less	less	ADV
ajfa-12904	192	20	with	with	ADP
ajfa-12904	192	21	earnings	earning	NOUN
ajfa-12904	192	22	smoothing	smoothing	NOUN
ajfa-12904	192	23	as	as	SCONJ
ajfa-12904	192	24	they	they	PRON
ajfa-12904	192	25	are	be	AUX
ajfa-12904	192	26	getting	get	VERB
ajfa-12904	192	27	more	more	ADV
ajfa-12904	192	28	distressed	distressed	ADJ
ajfa-12904	192	29	.	.	PUNCT
ajfa-12904	193	1	further	further	ADJ
ajfa-12904	193	2	examination	examination	NOUN
ajfa-12904	193	3	reveals	reveal	VERB
ajfa-12904	193	4	that	that	SCONJ
ajfa-12904	193	5	this	this	DET
ajfa-12904	193	6	relationship	relationship	NOUN
ajfa-12904	193	7	is	be	AUX
ajfa-12904	193	8	influenced	influence	VERB
ajfa-12904	193	9	by	by	ADP
ajfa-12904	193	10	creditors	creditor	NOUN
ajfa-12904	193	11	monitoring	monitor	VERB
ajfa-12904	193	12	activities	activity	NOUN
ajfa-12904	193	13	,	,	PUNCT
ajfa-12904	193	14	since	since	SCONJ
ajfa-12904	193	15	firms	firm	NOUN
ajfa-12904	193	16	were	be	AUX
ajfa-12904	193	17	getting	get	VERB
ajfa-12904	193	18	more	more	ADJ
ajfa-12904	193	19	credit	credit	NOUN
ajfa-12904	193	20	when	when	SCONJ
ajfa-12904	193	21	they	they	PRON
ajfa-12904	193	22	are	be	AUX
ajfa-12904	193	23	in	in	ADP
ajfa-12904	193	24	distressed	distressed	ADJ
ajfa-12904	193	25	.	.	PUNCT
ajfa-12904	194	1	firms	firm	NOUN
ajfa-12904	194	2	were	be	AUX
ajfa-12904	194	3	getting	get	VERB
ajfa-12904	194	4	more	more	ADJ
ajfa-12904	194	5	credit	credit	NOUN
ajfa-12904	194	6	because	because	SCONJ
ajfa-12904	194	7	they	they	PRON
ajfa-12904	194	8	want	want	VERB
ajfa-12904	194	9	to	to	PART
ajfa-12904	194	10	hold	hold	VERB
ajfa-12904	194	11	more	more	ADJ
ajfa-12904	194	12	cash	cash	NOUN
ajfa-12904	194	13	(	(	PUNCT
ajfa-12904	194	14	liquidity	liquidity	NOUN
ajfa-12904	194	15	)	)	PUNCT
ajfa-12904	194	16	,	,	PUNCT
ajfa-12904	194	17	as	as	ADP
ajfa-12904	194	18	their	their	PRON
ajfa-12904	194	19	strategy	strategy	NOUN
ajfa-12904	194	20	to	to	PART
ajfa-12904	194	21	hedge	hedge	VERB
ajfa-12904	194	22	against	against	ADP
ajfa-12904	194	23	distressed	distressed	ADJ
ajfa-12904	194	24	times	time	NOUN
ajfa-12904	194	25	.	.	PUNCT
ajfa-12904	195	1	the	the	DET
ajfa-12904	195	2	results	result	NOUN
ajfa-12904	195	3	emphasize	emphasize	VERB
ajfa-12904	195	4	how	how	SCONJ
ajfa-12904	195	5	little	little	ADJ
ajfa-12904	195	6	we	we	PRON
ajfa-12904	195	7	know	know	VERB
ajfa-12904	195	8	about	about	ADP
ajfa-12904	195	9	earnings	earning	NOUN
ajfa-12904	195	10	management	management	NOUN
ajfa-12904	195	11	practices	practice	NOUN
ajfa-12904	195	12	,	,	PUNCT
ajfa-12904	195	13	specifically	specifically	ADV
ajfa-12904	195	14	earnings	earning	NOUN
ajfa-12904	195	15	smoothing	smoothing	NOUN
ajfa-12904	195	16	,	,	PUNCT
ajfa-12904	195	17	in	in	ADP
ajfa-12904	195	18	private	private	ADJ
ajfa-12904	195	19	firms	firm	NOUN
ajfa-12904	195	20	.	.	PUNCT
ajfa-12904	196	1	therefore	therefore	ADV
ajfa-12904	196	2	,	,	PUNCT
ajfa-12904	196	3	more	more	ADJ
ajfa-12904	196	4	researches	research	NOUN
ajfa-12904	196	5	are	be	AUX
ajfa-12904	196	6	needed	need	VERB
ajfa-12904	196	7	to	to	PART
ajfa-12904	196	8	enlighten	enlighten	VERB
ajfa-12904	196	9	our	our	PRON
ajfa-12904	196	10	understanding	understanding	NOUN
ajfa-12904	196	11	on	on	ADP
ajfa-12904	196	12	this	this	DET
ajfa-12904	196	13	matter	matter	NOUN
ajfa-12904	196	14	.	.	PUNCT
ajfa-12904	197	1	future	future	ADJ
ajfa-12904	197	2	researches	research	NOUN
ajfa-12904	197	3	might	might	AUX
ajfa-12904	197	4	want	want	VERB
ajfa-12904	197	5	to	to	PART
ajfa-12904	197	6	consider	consider	VERB
ajfa-12904	197	7	the	the	DET
ajfa-12904	197	8	role	role	NOUN
ajfa-12904	197	9	of	of	ADP
ajfa-12904	197	10	real	real	ADJ
ajfa-12904	197	11	earnings	earning	NOUN
ajfa-12904	197	12	smoothing	smooth	VERB
ajfa-12904	197	13	in	in	ADP
ajfa-12904	197	14	private	private	ADJ
ajfa-12904	197	15	firms	firm	NOUN
ajfa-12904	197	16	since	since	SCONJ
ajfa-12904	197	17	this	this	DET
ajfa-12904	197	18	earnings	earning	NOUN
ajfa-12904	197	19	behaviour	behaviour	NOUN
ajfa-12904	197	20	is	be	AUX
ajfa-12904	197	21	more	more	ADV
ajfa-12904	197	22	prevalent	prevalent	ADJ
ajfa-12904	197	23	in	in	ADP
ajfa-12904	197	24	the	the	DET
ajfa-12904	197	25	real	real	ADJ
ajfa-12904	197	26	accounting	accounting	NOUN
ajfa-12904	197	27	practice	practice	NOUN
ajfa-12904	197	28	.	.	PUNCT
ajfa-12904	198	1	asian	asian	ADJ
ajfa-12904	198	2	journal	journal	PROPN
ajfa-12904	198	3	of	of	ADP
ajfa-12904	198	4	finance	finance	PROPN
ajfa-12904	198	5	&	&	CCONJ
ajfa-12904	198	6	accounting	accounting	PROPN
ajfa-12904	198	7	issn	issn	PROPN
ajfa-12904	198	8	1946	1946	NUM
ajfa-12904	198	9	-	-	PUNCT
ajfa-12904	198	10	052x	052x	NOUN
ajfa-12904	198	11	2018	2018	NUM
ajfa-12904	198	12	,	,	PUNCT
ajfa-12904	198	13	vol	vol	NOUN
ajfa-12904	198	14	.	.	PROPN
ajfa-12904	198	15	10	10	NUM
ajfa-12904	198	16	,	,	PUNCT
ajfa-12904	198	17	no	no	INTJ
ajfa-12904	198	18	.	.	NOUN
ajfa-12904	198	19	1	1	NUM
ajfa-12904	198	20	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-12904	198	21	173	173	NUM
ajfa-12904	198	22	table	table	NOUN
ajfa-12904	198	23	5	5	NUM
ajfa-12904	198	24	.	.	PUNCT
ajfa-12904	199	1	earnings	earning	NOUN
ajfa-12904	199	2	smoothing	smooth	VERB
ajfa-12904	199	3	prior	prior	ADJ
ajfa-12904	199	4	liquidation	liquidation	NOUN
ajfa-12904	199	5	1	1	NUM
ajfa-12904	199	6	year	year	NOUN
ajfa-12904	199	7	prior	prior	ADV
ajfa-12904	199	8	2	2	NUM
ajfa-12904	199	9	year	year	NOUN
ajfa-12904	199	10	prior	prior	ADV
ajfa-12904	199	11	3	3	NUM
ajfa-12904	199	12	year	year	NOUN
ajfa-12904	199	13	prior	prior	ADJ
ajfa-12904	199	14	variable	variable	ADJ
ajfa-12904	199	15	expected	expect	VERB
ajfa-12904	199	16	sign	sign	PROPN
ajfa-12904	199	17	coef	coef	PROPN
ajfa-12904	199	18	.	.	PROPN
ajfa-12904	200	1	t	t	PROPN
ajfa-12904	200	2	coef	coef	PROPN
ajfa-12904	200	3	.	.	PROPN
ajfa-12904	201	1	t	t	PROPN
ajfa-12904	201	2	coef	coef	PROPN
ajfa-12904	201	3	.	.	PUNCT
ajfa-12904	202	1	t	t	PROPN
ajfa-12904	202	2	leverage	leverage	NOUN
ajfa-12904	202	3	negative	negative	ADJ
ajfa-12904	202	4	-0.0000	-0.0000	NOUN
ajfa-12904	202	5	*	*	PUNCT
ajfa-12904	202	6	*	*	PUNCT
ajfa-12904	202	7	*	*	PUNCT
ajfa-12904	202	8	-5.45	-5.45	X
ajfa-12904	202	9	-0.0000	-0.0000	X
ajfa-12904	203	1	*	*	PUNCT
ajfa-12904	203	2	*	*	PUNCT
ajfa-12904	203	3	*	*	PUNCT
ajfa-12904	203	4	-5.35	-5.35	NOUN
ajfa-12904	203	5	-0.0001	-0.0001	NOUN
ajfa-12904	203	6	*	*	PUNCT
ajfa-12904	204	1	*	*	PUNCT
ajfa-12904	204	2	*	*	PUNCT
ajfa-12904	204	3	-5.02	-5.02	NUM
ajfa-12904	204	4	profitability	profitability	NOUN
ajfa-12904	204	5	positive	positive	ADJ
ajfa-12904	204	6	-0.0088	-0.0088	NOUN
ajfa-12904	204	7	*	*	PUNCT
ajfa-12904	204	8	*	*	PUNCT
ajfa-12904	204	9	*	*	PUNCT
ajfa-12904	205	1	-0.21	-0.21	NUM
ajfa-12904	206	1	0.1874	0.1874	NUM
ajfa-12904	206	2	*	*	PUNCT
ajfa-12904	207	1	*	*	PUNCT
ajfa-12904	207	2	0.39	0.39	NUM
ajfa-12904	207	3	1.2337	1.2337	NUM
ajfa-12904	207	4	*	*	PUNCT
ajfa-12904	207	5	*	*	PUNCT
ajfa-12904	207	6	*	*	SYM
ajfa-12904	207	7	1.97	1.97	NUM
ajfa-12904	207	8	liquidity	liquidity	NOUN
ajfa-12904	207	9	positive	positive	ADJ
ajfa-12904	207	10	0.0066	0.0066	NUM
ajfa-12904	207	11	*	*	PUNCT
ajfa-12904	207	12	*	*	PUNCT
ajfa-12904	207	13	*	*	PUNCT
ajfa-12904	207	14	0.75	0.75	NUM
ajfa-12904	207	15	0.0816	0.0816	NUM
ajfa-12904	207	16	*	*	PUNCT
ajfa-12904	208	1	*	*	PUNCT
ajfa-12904	208	2	*	*	PUNCT
ajfa-12904	208	3	0.97	0.97	NUM
ajfa-12904	208	4	0.1216	0.1216	NUM
ajfa-12904	208	5	*	*	PUNCT
ajfa-12904	208	6	*	*	PUNCT
ajfa-12904	208	7	*	*	PROPN
ajfa-12904	208	8	0.89	0.89	NUM
ajfa-12904	208	9	solvency	solvency	NOUN
ajfa-12904	208	10	positive	positive	ADJ
ajfa-12904	208	11	-0.0001	-0.0001	NOUN
ajfa-12904	208	12	*	*	PUNCT
ajfa-12904	208	13	*	*	PUNCT
ajfa-12904	208	14	*	*	PUNCT
ajfa-12904	208	15	-1.25	-1.25	NUM
ajfa-12904	208	16	0.0000	0.0000	NUM
ajfa-12904	208	17	*	*	PUNCT
ajfa-12904	208	18	*	*	PUNCT
ajfa-12904	208	19	*	*	PUNCT
ajfa-12904	208	20	0.52	0.52	NUM
ajfa-12904	208	21	0.0005	0.0005	NUM
ajfa-12904	208	22	*	*	PUNCT
ajfa-12904	208	23	*	*	PUNCT
ajfa-12904	208	24	*	*	SYM
ajfa-12904	208	25	1.19	1.19	NUM
ajfa-12904	208	26	industry	industry	NOUN
ajfa-12904	208	27	fixed	fix	VERB
ajfa-12904	208	28	effect	effect	NOUN
ajfa-12904	208	29	-0.0061	-0.0061	VERB
ajfa-12904	208	30	*	*	PUNCT
ajfa-12904	209	1	*	*	PUNCT
ajfa-12904	209	2	*	*	PUNCT
ajfa-12904	209	3	-1.20	-1.20	NUM
ajfa-12904	209	4	-0.0086	-0.0086	VERB
ajfa-12904	209	5	*	*	PUNCT
ajfa-12904	210	1	*	*	PUNCT
ajfa-12904	210	2	*	*	PUNCT
ajfa-12904	210	3	-1.54	-1.54	NOUN
ajfa-12904	210	4	-0.0107	-0.0107	NOUN
ajfa-12904	210	5	*	*	PUNCT
ajfa-12904	210	6	*	*	PUNCT
ajfa-12904	210	7	*	*	PUNCT
ajfa-12904	210	8	-1.58	-1.58	ADJ
ajfa-12904	210	9	constant	constant	ADJ
ajfa-12904	210	10	-0.8296	-0.8296	NOUN
ajfa-12904	210	11	*	*	PUNCT
ajfa-12904	210	12	*	*	PUNCT
ajfa-12904	210	13	*	*	PUNCT
ajfa-12904	210	14	-3.02	-3.02	NUM
ajfa-12904	210	15	-0.7725	-0.7725	ADJ
ajfa-12904	210	16	*	*	PUNCT
ajfa-12904	210	17	*	*	PUNCT
ajfa-12904	210	18	*	*	PUNCT
ajfa-12904	210	19	-2.54	-2.54	NOUN
ajfa-12904	210	20	-0.7049	-0.7049	ADJ
ajfa-12904	210	21	*	*	PUNCT
ajfa-12904	210	22	*	*	PUNCT
ajfa-12904	210	23	*	*	PUNCT
ajfa-12904	210	24	-1.95	-1.95	NUM
ajfa-12904	210	25	r	r	NOUN
ajfa-12904	210	26	-	-	PUNCT
ajfa-12904	210	27	squared	square	VERB
ajfa-12904	210	28	0.0872	0.0872	NUM
ajfa-12904	210	29	*	*	PUNCT
ajfa-12904	210	30	*	*	PUNCT
ajfa-12904	210	31	*	*	PUNCT
ajfa-12904	210	32	0.1039	0.1039	NUM
ajfa-12904	210	33	*	*	PUNCT
ajfa-12904	210	34	*	*	PUNCT
ajfa-12904	210	35	*	*	PUNCT
ajfa-12904	210	36	0.1334	0.1334	NUM
ajfa-12904	210	37	*	*	PUNCT
ajfa-12904	210	38	*	*	PUNCT
ajfa-12904	210	39	*	*	PUNCT
ajfa-12904	210	40	adjusted	adjusted	ADJ
ajfa-12904	210	41	r	r	NOUN
ajfa-12904	210	42	-	-	PUNCT
ajfa-12904	210	43	squared	square	VERB
ajfa-12904	210	44	0.0747	0.0747	NUM
ajfa-12904	210	45	*	*	PUNCT
ajfa-12904	210	46	*	*	PUNCT
ajfa-12904	210	47	*	*	PUNCT
ajfa-12904	210	48	0.0887	0.0887	NUM
ajfa-12904	210	49	*	*	PUNCT
ajfa-12904	210	50	*	*	PUNCT
ajfa-12904	210	51	*	*	PUNCT
ajfa-12904	210	52	0.1147	0.1147	NUM
ajfa-12904	210	53	*	*	PUNCT
ajfa-12904	210	54	*	*	PUNCT
ajfa-12904	210	55	*	*	PUNCT
ajfa-12904	210	56	n	n	X
ajfa-12904	210	57	372	372	NUM
ajfa-12904	210	58	*	*	PUNCT
ajfa-12904	210	59	*	*	PUNCT
ajfa-12904	210	60	*	*	PUNCT
ajfa-12904	210	61	300	300	NUM
ajfa-12904	210	62	*	*	PUNCT
ajfa-12904	210	63	*	*	PUNCT
ajfa-12904	210	64	*	*	PUNCT
ajfa-12904	210	65	237	237	NUM
ajfa-12904	210	66	*	*	PUNCT
ajfa-12904	210	67	*	*	PUNCT
ajfa-12904	210	68	*	*	PUNCT
ajfa-12904	211	1	*	*	PUNCT
ajfa-12904	211	2	*	*	PUNCT
ajfa-12904	211	3	*	*	PUNCT
ajfa-12904	211	4	,	,	PUNCT
ajfa-12904	211	5	*	*	PUNCT
ajfa-12904	211	6	*	*	PUNCT
ajfa-12904	211	7	,	,	PUNCT
ajfa-12904	211	8	*	*	PUNCT
ajfa-12904	211	9	indicate	indicate	VERB
ajfa-12904	211	10	two	two	NUM
ajfa-12904	211	11	-	-	PUNCT
ajfa-12904	211	12	sided	sided	ADJ
ajfa-12904	211	13	significance	significance	NOUN
ajfa-12904	211	14	at	at	ADP
ajfa-12904	211	15	1	1	NUM
ajfa-12904	211	16	,	,	PUNCT
ajfa-12904	211	17	5	5	NUM
ajfa-12904	211	18	and	and	CCONJ
ajfa-12904	211	19	10	10	NUM
ajfa-12904	211	20	percent	percent	NOUN
ajfa-12904	211	21	levels	level	NOUN
ajfa-12904	211	22	,	,	PUNCT
ajfa-12904	211	23	respectively	respectively	ADV
ajfa-12904	211	24	.	.	PUNCT
ajfa-12904	212	1	table	table	NOUN
ajfa-12904	212	2	5	5	NUM
ajfa-12904	212	3	presents	present	VERB
ajfa-12904	212	4	the	the	DET
ajfa-12904	212	5	results	result	NOUN
ajfa-12904	212	6	of	of	ADP
ajfa-12904	212	7	income	income	NOUN
ajfa-12904	212	8	smoothing	smooth	VERB
ajfa-12904	212	9	behavior	behavior	NOUN
ajfa-12904	212	10	1	1	NUM
ajfa-12904	212	11	,	,	PUNCT
ajfa-12904	212	12	2	2	NUM
ajfa-12904	212	13	and	and	CCONJ
ajfa-12904	212	14	3	3	NUM
ajfa-12904	212	15	years	year	NOUN
ajfa-12904	212	16	prior	prior	ADV
ajfa-12904	212	17	to	to	ADP
ajfa-12904	212	18	liquidation	liquidation	NOUN
ajfa-12904	212	19	.	.	PUNCT
ajfa-12904	213	1	the	the	DET
ajfa-12904	213	2	definition	definition	NOUN
ajfa-12904	213	3	for	for	ADP
ajfa-12904	213	4	all	all	DET
ajfa-12904	213	5	variables	variable	NOUN
ajfa-12904	213	6	can	can	AUX
ajfa-12904	213	7	be	be	AUX
ajfa-12904	213	8	found	find	VERB
ajfa-12904	213	9	in	in	ADP
ajfa-12904	213	10	appendix	appendix	ADJ
ajfa-12904	213	11	a.	a.	NOUN
ajfa-12904	213	12	references	reference	NOUN
ajfa-12904	213	13	acharya	acharya	PROPN
ajfa-12904	213	14	,	,	PUNCT
ajfa-12904	213	15	v.	v.	PROPN
ajfa-12904	213	16	,	,	PUNCT
ajfa-12904	213	17	&	&	CCONJ
ajfa-12904	213	18	lambrecht	lambrecht	PROPN
ajfa-12904	213	19	,	,	PUNCT
ajfa-12904	213	20	b.	b.	PROPN
ajfa-12904	213	21	m.	m.	NOUN
ajfa-12904	213	22	(	(	PUNCT
ajfa-12904	213	23	2015	2015	NUM
ajfa-12904	213	24	)	)	PUNCT
ajfa-12904	213	25	.	.	PUNCT
ajfa-12904	214	1	a	a	DET
ajfa-12904	214	2	theory	theory	NOUN
ajfa-12904	214	3	of	of	ADP
ajfa-12904	214	4	income	income	NOUN
ajfa-12904	214	5	smoothing	smooth	VERB
ajfa-12904	214	6	when	when	SCONJ
ajfa-12904	214	7	insiders	insider	NOUN
ajfa-12904	214	8	know	know	VERB
ajfa-12904	214	9	more	more	ADJ
ajfa-12904	214	10	than	than	ADP
ajfa-12904	214	11	outsiders	outsider	NOUN
ajfa-12904	214	12	.	.	PUNCT
ajfa-12904	215	1	review	review	NOUN
ajfa-12904	215	2	of	of	ADP
ajfa-12904	215	3	financial	financial	ADJ
ajfa-12904	215	4	studies	study	NOUN
ajfa-12904	215	5	,	,	PUNCT
ajfa-12904	215	6	28(9	28(9	NOUN
ajfa-12904	215	7	)	)	PUNCT
ajfa-12904	215	8	,	,	PUNCT
ajfa-12904	215	9	2534	2534	NUM
ajfa-12904	215	10	-	-	SYM
ajfa-12904	215	11	2574	2574	NUM
ajfa-12904	215	12	.	.	PUNCT
ajfa-12904	216	1	retrieved	retrieve	VERB
ajfa-12904	216	2	from	from	ADP
ajfa-12904	216	3	https://doi.org/10.1093/rfs/hhv026	https://doi.org/10.1093/rfs/hhv026	PROPN
ajfa-12904	216	4	aghion	aghion	NOUN
ajfa-12904	216	5	,	,	PUNCT
ajfa-12904	216	6	p.	p.	NOUN
ajfa-12904	216	7	,	,	PUNCT
ajfa-12904	216	8	&	&	CCONJ
ajfa-12904	216	9	bolton	bolton	PROPN
ajfa-12904	216	10	,	,	PUNCT
ajfa-12904	216	11	p.	p.	NOUN
ajfa-12904	216	12	(	(	PUNCT
ajfa-12904	216	13	1992	1992	NUM
ajfa-12904	216	14	)	)	PUNCT
ajfa-12904	216	15	.	.	PUNCT
ajfa-12904	217	1	an	an	DET
ajfa-12904	217	2	incomplete	incomplete	ADJ
ajfa-12904	217	3	contracts	contract	NOUN
ajfa-12904	217	4	approach	approach	NOUN
ajfa-12904	217	5	to	to	ADP
ajfa-12904	217	6	financial	financial	ADJ
ajfa-12904	217	7	contracting	contracting	NOUN
ajfa-12904	217	8	.	.	PUNCT
ajfa-12904	218	1	review	review	NOUN
ajfa-12904	218	2	of	of	ADP
ajfa-12904	218	3	economic	economic	ADJ
ajfa-12904	218	4	studies	study	NOUN
ajfa-12904	218	5	,	,	PUNCT
ajfa-12904	218	6	59	59	NUM
ajfa-12904	218	7	,	,	PUNCT
ajfa-12904	218	8	473	473	NUM
ajfa-12904	218	9	-	-	SYM
ajfa-12904	218	10	494	494	NUM
ajfa-12904	218	11	.	.	PUNCT
ajfa-12904	218	12	retrieved	retrieve	VERB
ajfa-12904	218	13	from	from	ADP
ajfa-12904	218	14	https://doi.org/10.2307/2297860	https://doi.org/10.2307/2297860	PUNCT
ajfa-12904	218	15	akbar	akbar	NOUN
ajfa-12904	218	16	,	,	PUNCT
ajfa-12904	218	17	s.	s.	PROPN
ajfa-12904	218	18	,	,	PUNCT
ajfa-12904	218	19	rehman	rehman	PROPN
ajfa-12904	218	20	,	,	PUNCT
ajfa-12904	218	21	s.	s.	PROPN
ajfa-12904	218	22	ur	ur	PROPN
ajfa-12904	218	23	,	,	PUNCT
ajfa-12904	218	24	&	&	CCONJ
ajfa-12904	218	25	ormrod	ormrod	NOUN
ajfa-12904	218	26	,	,	PUNCT
ajfa-12904	218	27	p.	p.	NOUN
ajfa-12904	218	28	(	(	PUNCT
ajfa-12904	218	29	2013	2013	NUM
ajfa-12904	218	30	)	)	PUNCT
ajfa-12904	218	31	.	.	PUNCT
ajfa-12904	219	1	the	the	DET
ajfa-12904	219	2	impact	impact	NOUN
ajfa-12904	219	3	of	of	ADP
ajfa-12904	219	4	recent	recent	ADJ
ajfa-12904	219	5	financial	financial	ADJ
ajfa-12904	219	6	shocks	shock	NOUN
ajfa-12904	219	7	on	on	ADP
ajfa-12904	219	8	the	the	DET
ajfa-12904	219	9	financing	financing	NOUN
ajfa-12904	219	10	and	and	CCONJ
ajfa-12904	219	11	investment	investment	NOUN
ajfa-12904	219	12	policies	policy	NOUN
ajfa-12904	219	13	of	of	ADP
ajfa-12904	219	14	uk	uk	PROPN
ajfa-12904	219	15	private	private	ADJ
ajfa-12904	219	16	firms	firm	NOUN
ajfa-12904	219	17	.	.	PUNCT
ajfa-12904	220	1	international	international	ADJ
ajfa-12904	220	2	review	review	NOUN
ajfa-12904	220	3	of	of	ADP
ajfa-12904	220	4	financial	financial	ADJ
ajfa-12904	220	5	analysis	analysis	NOUN
ajfa-12904	220	6	,	,	PUNCT
ajfa-12904	220	7	26	26	NUM
ajfa-12904	220	8	,	,	PUNCT
ajfa-12904	220	9	59	59	NUM
ajfa-12904	220	10	-	-	SYM
ajfa-12904	220	11	70	70	NUM
ajfa-12904	220	12	.	.	PUNCT
ajfa-12904	221	1	http://doi.org/10.1016/j.irfa.2012.05.004	http://doi.org/10.1016/j.irfa.2012.05.004	PROPN
ajfa-12904	221	2	altman	altman	PROPN
ajfa-12904	221	3	,	,	PUNCT
ajfa-12904	221	4	e.	e.	PROPN
ajfa-12904	221	5	(	(	PUNCT
ajfa-12904	221	6	1983	1983	NUM
ajfa-12904	221	7	)	)	PUNCT
ajfa-12904	221	8	.	.	PUNCT
ajfa-12904	222	1	corporate	corporate	ADJ
ajfa-12904	222	2	financial	financial	ADJ
ajfa-12904	222	3	distress	distress	NOUN
ajfa-12904	222	4	:	:	PUNCT
ajfa-12904	222	5	a	a	DET
ajfa-12904	222	6	complete	complete	ADJ
ajfa-12904	222	7	guide	guide	NOUN
ajfa-12904	222	8	to	to	ADP
ajfa-12904	222	9	predicting	predict	VERB
ajfa-12904	222	10	,	,	PUNCT
ajfa-12904	222	11	avoiding	avoid	VERB
ajfa-12904	222	12	and	and	CCONJ
ajfa-12904	222	13	dealing	deal	VERB
ajfa-12904	222	14	with	with	ADP
ajfa-12904	222	15	bankruptcy	bankruptcy	NOUN
ajfa-12904	222	16	.	.	PUNCT
ajfa-12904	223	1	john	john	PROPN
ajfa-12904	223	2	wiley	wiley	PROPN
ajfa-12904	223	3	&	&	CCONJ
ajfa-12904	223	4	sons	son	NOUN
ajfa-12904	223	5	.	.	PUNCT
ajfa-12904	224	1	altman	altman	PROPN
ajfa-12904	224	2	,	,	PUNCT
ajfa-12904	224	3	e.	e.	PROPN
ajfa-12904	224	4	,	,	PUNCT
ajfa-12904	224	5	&	&	CCONJ
ajfa-12904	224	6	sabato	sabato	PROPN
ajfa-12904	224	7	,	,	PUNCT
ajfa-12904	224	8	g.	g.	PROPN
ajfa-12904	224	9	(	(	PUNCT
ajfa-12904	224	10	2007	2007	NUM
ajfa-12904	224	11	)	)	PUNCT
ajfa-12904	224	12	.	.	PUNCT
ajfa-12904	225	1	modelling	model	VERB
ajfa-12904	225	2	credit	credit	NOUN
ajfa-12904	225	3	risk	risk	NOUN
ajfa-12904	225	4	for	for	ADP
ajfa-12904	225	5	smes	sme	NOUN
ajfa-12904	225	6	:	:	PUNCT
ajfa-12904	225	7	evidence	evidence	NOUN
ajfa-12904	225	8	from	from	ADP
ajfa-12904	225	9	the	the	DET
ajfa-12904	225	10	u.	u.	PROPN
ajfa-12904	225	11	s.	s.	PROPN
ajfa-12904	225	12	market	market	PROPN
ajfa-12904	225	13	.	.	PUNCT
ajfa-12904	226	1	abacus	abacus	PROPN
ajfa-12904	226	2	,	,	PUNCT
ajfa-12904	226	3	43(3	43(3	PROPN
ajfa-12904	226	4	)	)	PUNCT
ajfa-12904	226	5	,	,	PUNCT
ajfa-12904	226	6	332	332	NUM
ajfa-12904	226	7	-	-	SYM
ajfa-12904	226	8	357	357	NUM
ajfa-12904	226	9	.	.	PUNCT
ajfa-12904	227	1	http://doi.org/10.1111/j.1467-6281.2007.00234.x	http://doi.org/10.1111/j.1467-6281.2007.00234.x	PROPN
ajfa-12904	227	2	amiram	amiram	PROPN
ajfa-12904	227	3	,	,	PUNCT
ajfa-12904	227	4	d.	d.	PROPN
ajfa-12904	227	5	,	,	PUNCT
ajfa-12904	227	6	&	&	CCONJ
ajfa-12904	227	7	owens	owens	PROPN
ajfa-12904	227	8	,	,	PUNCT
ajfa-12904	227	9	e.	e.	PROPN
ajfa-12904	227	10	(	(	PUNCT
ajfa-12904	227	11	2018	2018	NUM
ajfa-12904	227	12	)	)	PUNCT
ajfa-12904	227	13	.	.	PUNCT
ajfa-12904	228	1	sign	sign	VERB
ajfa-12904	228	2	reversal	reversal	NOUN
ajfa-12904	228	3	in	in	ADP
ajfa-12904	228	4	the	the	DET
ajfa-12904	228	5	relation	relation	NOUN
ajfa-12904	228	6	between	between	ADP
ajfa-12904	228	7	income	income	NOUN
ajfa-12904	228	8	smoothing	smoothing	NOUN
ajfa-12904	228	9	and	and	CCONJ
ajfa-12904	228	10	cost	cost	NOUN
ajfa-12904	228	11	of	of	ADP
ajfa-12904	228	12	debt	debt	NOUN
ajfa-12904	228	13	.	.	PUNCT
ajfa-12904	229	1	journal	journal	PROPN
ajfa-12904	229	2	of	of	ADP
ajfa-12904	229	3	business	business	NOUN
ajfa-12904	229	4	finance	finance	PROPN
ajfa-12904	229	5	&	&	CCONJ
ajfa-12904	229	6	accounting	accounting	PROPN
ajfa-12904	229	7	,	,	PUNCT
ajfa-12904	229	8	45(1	45(1	NOUN
ajfa-12904	229	9	-	-	PUNCT
ajfa-12904	229	10	2	2	NUM
ajfa-12904	229	11	)	)	PUNCT
ajfa-12904	229	12	,	,	PUNCT
ajfa-12904	229	13	40	40	NUM
ajfa-12904	229	14	-	-	SYM
ajfa-12904	229	15	71	71	NUM
ajfa-12904	229	16	.	.	PUNCT
ajfa-12904	230	1	http://doi.org/10.1111/jbfa.12295	http://doi.org/10.1111/jbfa.12295	NOUN
ajfa-12904	230	2	arya	arya	NOUN
ajfa-12904	230	3	,	,	PUNCT
ajfa-12904	230	4	a.	a.	PROPN
ajfa-12904	230	5	,	,	PUNCT
ajfa-12904	230	6	glover	glover	PROPN
ajfa-12904	230	7	,	,	PUNCT
ajfa-12904	230	8	j.	j.	PROPN
ajfa-12904	230	9	c.	c.	PROPN
ajfa-12904	230	10	,	,	PUNCT
ajfa-12904	230	11	&	&	CCONJ
ajfa-12904	230	12	sunder	sunder	PROPN
ajfa-12904	230	13	,	,	PUNCT
ajfa-12904	230	14	s.	s.	PROPN
ajfa-12904	230	15	(	(	PUNCT
ajfa-12904	230	16	2003	2003	NUM
ajfa-12904	230	17	)	)	PUNCT
ajfa-12904	230	18	.	.	PUNCT
ajfa-12904	230	19	are	be	AUX
ajfa-12904	230	20	unmanaged	unmanaged	ADJ
ajfa-12904	230	21	earnings	earning	NOUN
ajfa-12904	230	22	always	always	ADV
ajfa-12904	230	23	better	well	ADJ
ajfa-12904	230	24	for	for	ADP
ajfa-12904	230	25	shareholders	shareholder	NOUN
ajfa-12904	230	26	?	?	PUNCT
ajfa-12904	231	1	accounting	accounting	NOUN
ajfa-12904	231	2	horizons	horizon	NOUN
ajfa-12904	231	3	,	,	PUNCT
ajfa-12904	231	4	17	17	NUM
ajfa-12904	231	5	,	,	PUNCT
ajfa-12904	231	6	111	111	NUM
ajfa-12904	231	7	-	-	SYM
ajfa-12904	231	8	116	116	NUM
ajfa-12904	231	9	.	.	PUNCT
ajfa-12904	232	1	ball	ball	PROPN
ajfa-12904	232	2	,	,	PUNCT
ajfa-12904	232	3	r.	r.	PROPN
ajfa-12904	232	4	,	,	PUNCT
ajfa-12904	232	5	&	&	CCONJ
ajfa-12904	232	6	shivakumar	shivakumar	PROPN
ajfa-12904	232	7	,	,	PUNCT
ajfa-12904	232	8	l.	l.	PROPN
ajfa-12904	232	9	(	(	PUNCT
ajfa-12904	232	10	2005	2005	NUM
ajfa-12904	232	11	)	)	PUNCT
ajfa-12904	232	12	.	.	PUNCT
ajfa-12904	233	1	earnings	earning	NOUN
ajfa-12904	233	2	quality	quality	NOUN
ajfa-12904	233	3	in	in	ADP
ajfa-12904	233	4	uk	uk	PROPN
ajfa-12904	233	5	private	private	ADJ
ajfa-12904	233	6	firms	firm	NOUN
ajfa-12904	233	7	 	 	SPACE
ajfa-12904	233	8	:	:	PUNCT
ajfa-12904	233	9	comparative	comparative	ADJ
ajfa-12904	233	10	loss	loss	NOUN
ajfa-12904	233	11	asian	asian	ADJ
ajfa-12904	233	12	journal	journal	NOUN
ajfa-12904	233	13	of	of	ADP
ajfa-12904	233	14	finance	finance	PROPN
ajfa-12904	233	15	&	&	CCONJ
ajfa-12904	233	16	accounting	accounting	PROPN
ajfa-12904	233	17	issn	issn	PROPN
ajfa-12904	233	18	1946	1946	NUM
ajfa-12904	233	19	-	-	PUNCT
ajfa-12904	233	20	052x	052x	NOUN
ajfa-12904	233	21	2018	2018	NUM
ajfa-12904	233	22	,	,	PUNCT
ajfa-12904	233	23	vol	vol	NOUN
ajfa-12904	233	24	.	.	PROPN
ajfa-12904	233	25	10	10	NUM
ajfa-12904	233	26	,	,	PUNCT
ajfa-12904	233	27	no	no	INTJ
ajfa-12904	233	28	.	.	NOUN
ajfa-12904	233	29	1	1	NUM
ajfa-12904	233	30	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-12904	233	31	174	174	NUM
ajfa-12904	233	32	recognition	recognition	NOUN
ajfa-12904	233	33	timeliness	timeliness	NOUN
ajfa-12904	233	34	$	$	SYM
ajfa-12904	233	35	,	,	PUNCT
ajfa-12904	233	36	39	39	NUM
ajfa-12904	233	37	,	,	PUNCT
ajfa-12904	233	38	83	83	NUM
ajfa-12904	233	39	-	-	SYM
ajfa-12904	233	40	128	128	NUM
ajfa-12904	233	41	.	.	PUNCT
ajfa-12904	234	1	http://doi.org/10.1016/j.jacceco.2004.04.001	http://doi.org/10.1016/j.jacceco.2004.04.001	PROPN
ajfa-12904	234	2	bellovary	bellovary	NOUN
ajfa-12904	234	3	,	,	PUNCT
ajfa-12904	234	4	j.	j.	PROPN
ajfa-12904	234	5	,	,	PUNCT
ajfa-12904	234	6	giacomino	giacomino	PROPN
ajfa-12904	234	7	,	,	PUNCT
ajfa-12904	234	8	d.	d.	PROPN
ajfa-12904	234	9	,	,	PUNCT
ajfa-12904	234	10	&	&	CCONJ
ajfa-12904	234	11	akers	akers	PROPN
ajfa-12904	234	12	,	,	PUNCT
ajfa-12904	234	13	m.	m.	NOUN
ajfa-12904	234	14	(	(	PUNCT
ajfa-12904	234	15	2007	2007	NUM
ajfa-12904	234	16	)	)	PUNCT
ajfa-12904	234	17	.	.	PUNCT
ajfa-12904	235	1	a	a	DET
ajfa-12904	235	2	review	review	NOUN
ajfa-12904	235	3	of	of	ADP
ajfa-12904	235	4	bankruptcy	bankruptcy	NOUN
ajfa-12904	235	5	prediction	prediction	NOUN
ajfa-12904	235	6	studies	study	NOUN
ajfa-12904	235	7	:	:	PUNCT
ajfa-12904	235	8	1930	1930	NUM
ajfa-12904	235	9	-	-	PUNCT
ajfa-12904	235	10	present	present	ADJ
ajfa-12904	235	11	.	.	PUNCT
ajfa-12904	236	1	journal	journal	NOUN
ajfa-12904	236	2	of	of	ADP
ajfa-12904	236	3	financial	financial	ADJ
ajfa-12904	236	4	education	education	NOUN
ajfa-12904	236	5	,	,	PUNCT
ajfa-12904	236	6	33(winter	33(winter	NUM
ajfa-12904	236	7	)	)	PUNCT
ajfa-12904	236	8	,	,	PUNCT
ajfa-12904	236	9	1	1	NUM
ajfa-12904	236	10	-	-	SYM
ajfa-12904	236	11	42	42	NUM
ajfa-12904	236	12	.	.	PUNCT
ajfa-12904	237	1	retrieved	retrieve	VERB
ajfa-12904	237	2	from	from	ADP
ajfa-12904	237	3	http://www.jstor.org/stable/41948574	http://www.jstor.org/stable/41948574	NOUN
ajfa-12904	237	4	bhattacharya	bhattacharya	NOUN
ajfa-12904	237	5	,	,	PUNCT
ajfa-12904	237	6	u.	u.	PROPN
ajfa-12904	237	7	,	,	PUNCT
ajfa-12904	237	8	daouk	daouk	PROPN
ajfa-12904	237	9	,	,	PUNCT
ajfa-12904	237	10	h.	h.	PROPN
ajfa-12904	237	11	,	,	PUNCT
ajfa-12904	237	12	&	&	CCONJ
ajfa-12904	237	13	welker	welker	PROPN
ajfa-12904	237	14	,	,	PUNCT
ajfa-12904	237	15	m.	m.	NOUN
ajfa-12904	237	16	(	(	PUNCT
ajfa-12904	237	17	2003	2003	NUM
ajfa-12904	237	18	)	)	PUNCT
ajfa-12904	237	19	.	.	PUNCT
ajfa-12904	238	1	the	the	DET
ajfa-12904	238	2	world	world	NOUN
ajfa-12904	238	3	price	price	NOUN
ajfa-12904	238	4	of	of	ADP
ajfa-12904	238	5	earnings	earning	NOUN
ajfa-12904	238	6	opacity	opacity	NOUN
ajfa-12904	238	7	.	.	PUNCT
ajfa-12904	239	1	the	the	DET
ajfa-12904	239	2	accounting	accounting	NOUN
ajfa-12904	239	3	review	review	NOUN
ajfa-12904	239	4	,	,	PUNCT
ajfa-12904	239	5	78(3	78(3	NOUN
ajfa-12904	239	6	)	)	PUNCT
ajfa-12904	239	7	,	,	PUNCT
ajfa-12904	239	8	641	641	NUM
ajfa-12904	239	9	-	-	SYM
ajfa-12904	239	10	678	678	NUM
ajfa-12904	239	11	.	.	PUNCT
ajfa-12904	239	12	retrieved	retrieve	VERB
ajfa-12904	239	13	from	from	ADP
ajfa-12904	239	14	https://doi.org/10.2308/accr.2003.78.3.641	https://doi.org/10.2308/accr.2003.78.3.641	PROPN
ajfa-12904	239	15	bigus	bigus	PROPN
ajfa-12904	239	16	,	,	PUNCT
ajfa-12904	239	17	j.	j.	PROPN
ajfa-12904	239	18	,	,	PUNCT
ajfa-12904	239	19	&	&	CCONJ
ajfa-12904	239	20	häfele	häfele	PROPN
ajfa-12904	239	21	,	,	PUNCT
ajfa-12904	239	22	s.	s.	PROPN
ajfa-12904	239	23	(	(	PUNCT
ajfa-12904	239	24	2016	2016	NUM
ajfa-12904	239	25	)	)	PUNCT
ajfa-12904	239	26	.	.	PUNCT
ajfa-12904	240	1	shareholder	shareholder	NOUN
ajfa-12904	240	2	loans	loan	NOUN
ajfa-12904	240	3	and	and	CCONJ
ajfa-12904	240	4	earnings	earning	NOUN
ajfa-12904	240	5	smoothing	smooth	VERB
ajfa-12904	240	6	empirical	empirical	ADJ
ajfa-12904	240	7	findings	finding	NOUN
ajfa-12904	240	8	from	from	ADP
ajfa-12904	240	9	german	german	ADJ
ajfa-12904	240	10	private	private	ADJ
ajfa-12904	240	11	firms	firm	NOUN
ajfa-12904	240	12	.	.	PUNCT
ajfa-12904	241	1	european	european	ADJ
ajfa-12904	241	2	accounting	accounting	PROPN
ajfa-12904	241	3	review	review	PROPN
ajfa-12904	241	4	.	.	PUNCT
ajfa-12904	242	1	http://doi.org/10.1080/09638180.2016.1229206	http://doi.org/10.1080/09638180.2016.1229206	X
ajfa-12904	242	2	burgstahler	burgstahler	NOUN
ajfa-12904	242	3	,	,	PUNCT
ajfa-12904	242	4	d.	d.	PROPN
ajfa-12904	242	5	c.	c.	PROPN
ajfa-12904	242	6	,	,	PUNCT
ajfa-12904	242	7	hail	hail	NOUN
ajfa-12904	242	8	,	,	PUNCT
ajfa-12904	242	9	l.	l.	PROPN
ajfa-12904	242	10	,	,	PUNCT
ajfa-12904	242	11	&	&	CCONJ
ajfa-12904	242	12	leuz	leuz	PROPN
ajfa-12904	242	13	,	,	PUNCT
ajfa-12904	242	14	c.	c.	NOUN
ajfa-12904	242	15	(	(	PUNCT
ajfa-12904	242	16	2006	2006	NUM
ajfa-12904	242	17	)	)	PUNCT
ajfa-12904	242	18	.	.	PUNCT
ajfa-12904	243	1	the	the	DET
ajfa-12904	243	2	importance	importance	NOUN
ajfa-12904	243	3	of	of	ADP
ajfa-12904	243	4	reporting	report	VERB
ajfa-12904	243	5	incentives	incentive	NOUN
ajfa-12904	243	6	:	:	PUNCT
ajfa-12904	243	7	earnings	earning	NOUN
ajfa-12904	243	8	management	management	NOUN
ajfa-12904	243	9	in	in	ADP
ajfa-12904	243	10	european	european	PROPN
ajfa-12904	243	11	private	private	ADJ
ajfa-12904	243	12	and	and	CCONJ
ajfa-12904	243	13	public	public	ADJ
ajfa-12904	243	14	firms	firm	NOUN
ajfa-12904	243	15	.	.	PUNCT
ajfa-12904	244	1	accounting	accounting	NOUN
ajfa-12904	244	2	review	review	PROPN
ajfa-12904	244	3	,	,	PUNCT
ajfa-12904	244	4	81(5	81(5	PROPN
ajfa-12904	244	5	)	)	PUNCT
ajfa-12904	244	6	,	,	PUNCT
ajfa-12904	244	7	983	983	NUM
ajfa-12904	244	8	-	-	SYM
ajfa-12904	244	9	1016	1016	NUM
ajfa-12904	244	10	.	.	PUNCT
ajfa-12904	245	1	http://doi.org/10.2308/accr.2006.81.5.983	http://doi.org/10.2308/accr.2006.81.5.983	PROPN
ajfa-12904	245	2	cahan	cahan	PROPN
ajfa-12904	245	3	,	,	PUNCT
ajfa-12904	245	4	s.	s.	PROPN
ajfa-12904	245	5	f.	f.	PROPN
ajfa-12904	245	6	,	,	PUNCT
ajfa-12904	245	7	liu	liu	PROPN
ajfa-12904	245	8	,	,	PUNCT
ajfa-12904	245	9	g.	g.	PROPN
ajfa-12904	245	10	,	,	PUNCT
ajfa-12904	245	11	&	&	CCONJ
ajfa-12904	245	12	sun	sun	PROPN
ajfa-12904	245	13	,	,	PUNCT
ajfa-12904	245	14	j.	j.	PROPN
ajfa-12904	245	15	(	(	PUNCT
ajfa-12904	245	16	2008	2008	NUM
ajfa-12904	245	17	)	)	PUNCT
ajfa-12904	245	18	.	.	PUNCT
ajfa-12904	246	1	investor	investor	NOUN
ajfa-12904	246	2	protection	protection	NOUN
ajfa-12904	246	3	,	,	PUNCT
ajfa-12904	246	4	income	income	NOUN
ajfa-12904	246	5	smoothing	smoothing	NOUN
ajfa-12904	246	6	and	and	CCONJ
ajfa-12904	246	7	earnings	earning	NOUN
ajfa-12904	246	8	informativeness	informativeness	NOUN
ajfa-12904	246	9	.	.	PUNCT
ajfa-12904	247	1	journal	journal	NOUN
ajfa-12904	247	2	of	of	ADP
ajfa-12904	247	3	international	international	ADJ
ajfa-12904	247	4	accounting	accounting	NOUN
ajfa-12904	247	5	research	research	NOUN
ajfa-12904	247	6	,	,	PUNCT
ajfa-12904	247	7	7(1	7(1	NUM
ajfa-12904	247	8	)	)	PUNCT
ajfa-12904	247	9	,	,	PUNCT
ajfa-12904	247	10	1	1	NUM
ajfa-12904	247	11	-	-	SYM
ajfa-12904	247	12	24	24	NUM
ajfa-12904	247	13	.	.	PUNCT
ajfa-12904	247	14	retrieved	retrieve	VERB
ajfa-12904	247	15	from	from	ADP
ajfa-12904	247	16	https://doi.org/10.2308/jiar.2008.7.1.1	https://doi.org/10.2308/jiar.2008.7.1.1	PROPN
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ajfa-12904	247	18	,	,	PUNCT
ajfa-12904	247	19	c.	c.	PROPN
ajfa-12904	247	20	,	,	PUNCT
ajfa-12904	247	21	kim	kim	PROPN
ajfa-12904	247	22	,	,	PUNCT
ajfa-12904	247	23	j.	j.	PROPN
ajfa-12904	247	24	b.	b.	PROPN
ajfa-12904	247	25	,	,	PUNCT
ajfa-12904	247	26	&	&	CCONJ
ajfa-12904	247	27	yao	yao	PROPN
ajfa-12904	247	28	,	,	PUNCT
ajfa-12904	247	29	l.	l.	PROPN
ajfa-12904	247	30	(	(	PUNCT
ajfa-12904	247	31	2017	2017	NUM
ajfa-12904	247	32	)	)	PUNCT
ajfa-12904	247	33	.	.	PUNCT
ajfa-12904	248	1	earnings	earning	NOUN
ajfa-12904	248	2	smoothing	smoothing	NOUN
ajfa-12904	248	3	:	:	PUNCT
ajfa-12904	248	4	does	do	AUX
ajfa-12904	248	5	it	it	PRON
ajfa-12904	248	6	exacerbate	exacerbate	VERB
ajfa-12904	248	7	or	or	CCONJ
ajfa-12904	248	8	constrain	constrain	VERB
ajfa-12904	248	9	stock	stock	NOUN
ajfa-12904	248	10	price	price	NOUN
ajfa-12904	248	11	crash	crash	NOUN
ajfa-12904	248	12	risk	risk	NOUN
ajfa-12904	248	13	?	?	PUNCT
ajfa-12904	249	1	journal	journal	NOUN
ajfa-12904	249	2	of	of	ADP
ajfa-12904	249	3	corporate	corporate	ADJ
ajfa-12904	249	4	finance	finance	NOUN
ajfa-12904	249	5	,	,	PUNCT
ajfa-12904	249	6	42	42	NUM
ajfa-12904	249	7	,	,	PUNCT
ajfa-12904	249	8	36	36	NUM
ajfa-12904	249	9	-	-	SYM
ajfa-12904	249	10	54	54	NUM
ajfa-12904	249	11	.	.	PUNCT
ajfa-12904	250	1	http://doi.org/10.1016/j.jcorpfin.2016.11.004	http://doi.org/10.1016/j.jcorpfin.2016.11.004	PROPN
ajfa-12904	250	2	coppens	coppen	NOUN
ajfa-12904	250	3	,	,	PUNCT
ajfa-12904	250	4	l.	l.	PROPN
ajfa-12904	250	5	,	,	PUNCT
ajfa-12904	250	6	&	&	CCONJ
ajfa-12904	250	7	peek	peek	PROPN
ajfa-12904	250	8	,	,	PUNCT
ajfa-12904	250	9	e.	e.	PROPN
ajfa-12904	250	10	(	(	PUNCT
ajfa-12904	250	11	2005	2005	NUM
ajfa-12904	250	12	)	)	PUNCT
ajfa-12904	250	13	.	.	PUNCT
ajfa-12904	251	1	an	an	DET
ajfa-12904	251	2	analysis	analysis	NOUN
ajfa-12904	251	3	of	of	ADP
ajfa-12904	251	4	earnings	earning	NOUN
ajfa-12904	251	5	management	management	NOUN
ajfa-12904	251	6	by	by	ADP
ajfa-12904	251	7	european	european	ADJ
ajfa-12904	251	8	private	private	ADJ
ajfa-12904	251	9	firms	firm	NOUN
ajfa-12904	251	10	.	.	PUNCT
ajfa-12904	252	1	journal	journal	NOUN
ajfa-12904	252	2	of	of	ADP
ajfa-12904	252	3	international	international	ADJ
ajfa-12904	252	4	accounting	accounting	NOUN
ajfa-12904	252	5	,	,	PUNCT
ajfa-12904	252	6	auditing	auditing	NOUN
ajfa-12904	252	7	and	and	CCONJ
ajfa-12904	252	8	taxation	taxation	NOUN
ajfa-12904	252	9	,	,	PUNCT
ajfa-12904	252	10	14	14	NUM
ajfa-12904	252	11	,	,	PUNCT
ajfa-12904	252	12	1	1	NUM
ajfa-12904	252	13	-	-	SYM
ajfa-12904	252	14	17	17	NUM
ajfa-12904	252	15	.	.	PUNCT
ajfa-12904	253	1	http://doi.org/10.1016/j.intaccaudtax.2005.01.002	http://doi.org/10.1016/j.intaccaudtax.2005.01.002	PROPN
ajfa-12904	253	2	das	das	PROPN
ajfa-12904	253	3	,	,	PUNCT
ajfa-12904	253	4	s.	s.	PROPN
ajfa-12904	253	5	,	,	PUNCT
ajfa-12904	253	6	hong	hong	PROPN
ajfa-12904	253	7	,	,	PUNCT
ajfa-12904	253	8	k.	k.	PROPN
ajfa-12904	253	9	,	,	PUNCT
ajfa-12904	253	10	&	&	CCONJ
ajfa-12904	253	11	kim	kim	PROPN
ajfa-12904	253	12	,	,	PUNCT
ajfa-12904	253	13	k.	k.	PROPN
ajfa-12904	253	14	(	(	PUNCT
ajfa-12904	253	15	2013	2013	NUM
ajfa-12904	253	16	)	)	PUNCT
ajfa-12904	253	17	.	.	PUNCT
ajfa-12904	254	1	earnings	earning	NOUN
ajfa-12904	254	2	smoothing	smoothing	NOUN
ajfa-12904	254	3	,	,	PUNCT
ajfa-12904	254	4	cash	cash	NOUN
ajfa-12904	254	5	flow	flow	NOUN
ajfa-12904	254	6	volatility	volatility	NOUN
ajfa-12904	254	7	,	,	PUNCT
ajfa-12904	254	8	and	and	CCONJ
ajfa-12904	254	9	ceo	ceo	NOUN
ajfa-12904	254	10	cash	cash	NOUN
ajfa-12904	254	11	bonus	bonus	NOUN
ajfa-12904	254	12	.	.	PUNCT
ajfa-12904	255	1	financial	financial	ADJ
ajfa-12904	255	2	review	review	PROPN
ajfa-12904	255	3	,	,	PUNCT
ajfa-12904	255	4	48(1	48(1	NOUN
ajfa-12904	255	5	)	)	PUNCT
ajfa-12904	255	6	,	,	PUNCT
ajfa-12904	255	7	123	123	NUM
ajfa-12904	255	8	-	-	SYM
ajfa-12904	255	9	150	150	NUM
ajfa-12904	255	10	.	.	PUNCT
ajfa-12904	256	1	http://doi.org/10.1111/j.1540-6288.2012.00349.x	http://doi.org/10.1111/j.1540-6288.2012.00349.x	PROPN
ajfa-12904	256	2	demerjian	demerjian	PROPN
ajfa-12904	256	3	,	,	PUNCT
ajfa-12904	256	4	p.	p.	PROPN
ajfa-12904	256	5	r.	r.	PROPN
ajfa-12904	256	6	,	,	PUNCT
ajfa-12904	256	7	donovan	donovan	PROPN
ajfa-12904	256	8	,	,	PUNCT
ajfa-12904	256	9	j.	j.	PROPN
ajfa-12904	256	10	,	,	PUNCT
ajfa-12904	256	11	&	&	CCONJ
ajfa-12904	256	12	lewis	lewis	PROPN
ajfa-12904	256	13	-	-	PUNCT
ajfa-12904	256	14	western	western	ADJ
ajfa-12904	256	15	,	,	PUNCT
ajfa-12904	256	16	m.	m.	NOUN
ajfa-12904	256	17	f.	f.	PROPN
ajfa-12904	256	18	(	(	PUNCT
ajfa-12904	256	19	2017	2017	NUM
ajfa-12904	256	20	)	)	PUNCT
ajfa-12904	256	21	.	.	PUNCT
ajfa-12904	257	1	income	income	NOUN
ajfa-12904	257	2	smoothing	smoothing	NOUN
ajfa-12904	257	3	and	and	CCONJ
ajfa-12904	257	4	debt	debt	NOUN
ajfa-12904	257	5	covenants	covenant	NOUN
ajfa-12904	257	6	:	:	PUNCT
ajfa-12904	257	7	evidence	evidence	NOUN
ajfa-12904	257	8	from	from	ADP
ajfa-12904	257	9	technical	technical	ADJ
ajfa-12904	257	10	default	default	NOUN
ajfa-12904	257	11	.	.	PUNCT
ajfa-12904	258	1	ssrn	ssrn	PROPN
ajfa-12904	258	2	electronic	electronic	ADJ
ajfa-12904	258	3	journal	journal	NOUN
ajfa-12904	258	4	.	.	PUNCT
ajfa-12904	259	1	http://doi.org/10.2139/ssrn.2745631	http://doi.org/10.2139/ssrn.2745631	PROPN
ajfa-12904	259	2	dou	dou	PROPN
ajfa-12904	259	3	,	,	PUNCT
ajfa-12904	259	4	y.	y.	PROPN
ajfa-12904	259	5	,	,	PUNCT
ajfa-12904	259	6	hope	hope	NOUN
ajfa-12904	259	7	,	,	PUNCT
ajfa-12904	259	8	o.	o.	PROPN
ajfa-12904	259	9	k.	k.	PROPN
ajfa-12904	259	10	,	,	PUNCT
ajfa-12904	259	11	&	&	CCONJ
ajfa-12904	259	12	thomas	thomas	PROPN
ajfa-12904	259	13	,	,	PUNCT
ajfa-12904	259	14	w.	w.	PROPN
ajfa-12904	259	15	b.	b.	PROPN
ajfa-12904	259	16	(	(	PUNCT
ajfa-12904	259	17	2013	2013	NUM
ajfa-12904	259	18	)	)	PUNCT
ajfa-12904	259	19	.	.	PUNCT
ajfa-12904	260	1	relationship	relationship	NOUN
ajfa-12904	260	2	-	-	PUNCT
ajfa-12904	260	3	specificity	specificity	NOUN
ajfa-12904	260	4	,	,	PUNCT
ajfa-12904	260	5	contract	contract	NOUN
ajfa-12904	260	6	enforceability	enforceability	NOUN
ajfa-12904	260	7	,	,	PUNCT
ajfa-12904	260	8	and	and	CCONJ
ajfa-12904	260	9	income	income	NOUN
ajfa-12904	260	10	smoothing	smoothing	NOUN
ajfa-12904	260	11	.	.	PUNCT
ajfa-12904	261	1	the	the	DET
ajfa-12904	261	2	accounting	accounting	NOUN
ajfa-12904	261	3	review	review	NOUN
ajfa-12904	261	4	,	,	PUNCT
ajfa-12904	261	5	88(5	88(5	PROPN
ajfa-12904	261	6	)	)	PUNCT
ajfa-12904	261	7	,	,	PUNCT
ajfa-12904	261	8	1629	1629	NUM
ajfa-12904	261	9	-	-	SYM
ajfa-12904	261	10	1656	1656	NUM
ajfa-12904	261	11	.	.	PUNCT
ajfa-12904	262	1	retrieved	retrieve	VERB
ajfa-12904	262	2	from	from	ADP
ajfa-12904	262	3	https://doi.org/10.2308/accr-50489	https://doi.org/10.2308/accr-50489	PROPN
ajfa-12904	262	4	francis	francis	PROPN
ajfa-12904	262	5	,	,	PUNCT
ajfa-12904	262	6	j.	j.	PROPN
ajfa-12904	262	7	,	,	PUNCT
ajfa-12904	262	8	lafond	lafond	PROPN
ajfa-12904	262	9	,	,	PUNCT
ajfa-12904	262	10	r.	r.	PROPN
ajfa-12904	262	11	,	,	PUNCT
ajfa-12904	262	12	olsson	olsson	PROPN
ajfa-12904	262	13	,	,	PUNCT
ajfa-12904	262	14	p.	p.	NOUN
ajfa-12904	262	15	m.	m.	NOUN
ajfa-12904	262	16	,	,	PUNCT
ajfa-12904	262	17	&	&	CCONJ
ajfa-12904	262	18	schipper	schipper	PROPN
ajfa-12904	262	19	,	,	PUNCT
ajfa-12904	262	20	k.	k.	PROPN
ajfa-12904	262	21	(	(	PUNCT
ajfa-12904	262	22	2005	2005	NUM
ajfa-12904	262	23	)	)	PUNCT
ajfa-12904	262	24	.	.	PUNCT
ajfa-12904	263	1	the	the	DET
ajfa-12904	263	2	market	market	NOUN
ajfa-12904	263	3	pricing	pricing	NOUN
ajfa-12904	263	4	of	of	ADP
ajfa-12904	263	5	accruals	accrual	NOUN
ajfa-12904	263	6	quality	quality	NOUN
ajfa-12904	263	7	.	.	PUNCT
ajfa-12904	264	1	journal	journal	NOUN
ajfa-12904	264	2	of	of	ADP
ajfa-12904	264	3	accounting	accounting	NOUN
ajfa-12904	264	4	and	and	CCONJ
ajfa-12904	264	5	economics	economic	NOUN
ajfa-12904	264	6	,	,	PUNCT
ajfa-12904	264	7	39(2	39(2	NUM
ajfa-12904	264	8	)	)	PUNCT
ajfa-12904	264	9	,	,	PUNCT
ajfa-12904	264	10	295	295	NUM
ajfa-12904	264	11	-	-	SYM
ajfa-12904	264	12	327	327	NUM
ajfa-12904	264	13	.	.	PUNCT
ajfa-12904	264	14	retrieved	retrieve	VERB
ajfa-12904	264	15	from	from	ADP
ajfa-12904	264	16	https://doi.org/10.1016/j.jacceco.2004.06.003	https://doi.org/10.1016/j.jacceco.2004.06.003	NOUN
ajfa-12904	264	17	franz	franz	NOUN
ajfa-12904	264	18	,	,	PUNCT
ajfa-12904	264	19	d.	d.	PROPN
ajfa-12904	264	20	r.	r.	PROPN
ajfa-12904	264	21	,	,	PUNCT
ajfa-12904	264	22	hassabelnaby	hassabelnaby	PROPN
ajfa-12904	264	23	,	,	PUNCT
ajfa-12904	264	24	h.	h.	PROPN
ajfa-12904	264	25	r.	r.	PROPN
ajfa-12904	264	26	,	,	PUNCT
ajfa-12904	264	27	&	&	CCONJ
ajfa-12904	264	28	lobo	lobo	PROPN
ajfa-12904	264	29	,	,	PUNCT
ajfa-12904	264	30	g.	g.	PROPN
ajfa-12904	264	31	j.	j.	PROPN
ajfa-12904	264	32	(	(	PUNCT
ajfa-12904	264	33	2014	2014	NUM
ajfa-12904	264	34	)	)	PUNCT
ajfa-12904	264	35	.	.	PUNCT
ajfa-12904	265	1	impact	impact	NOUN
ajfa-12904	265	2	of	of	ADP
ajfa-12904	265	3	proximity	proximity	NOUN
ajfa-12904	265	4	to	to	ADP
ajfa-12904	265	5	debt	debt	NOUN
ajfa-12904	265	6	covenant	covenant	ADJ
ajfa-12904	265	7	violation	violation	NOUN
ajfa-12904	265	8	on	on	ADP
ajfa-12904	265	9	earnings	earning	NOUN
ajfa-12904	265	10	management	management	NOUN
ajfa-12904	265	11	.	.	PUNCT
ajfa-12904	266	1	review	review	NOUN
ajfa-12904	266	2	of	of	ADP
ajfa-12904	266	3	accounting	accounting	NOUN
ajfa-12904	266	4	studies	study	NOUN
ajfa-12904	266	5	,	,	PUNCT
ajfa-12904	266	6	19(1	19(1	NUM
ajfa-12904	266	7	)	)	PUNCT
ajfa-12904	266	8	,	,	PUNCT
ajfa-12904	266	9	473	473	NUM
ajfa-12904	266	10	-	-	SYM
ajfa-12904	266	11	505	505	NUM
ajfa-12904	266	12	.	.	PUNCT
ajfa-12904	266	13	retrieved	retrieve	VERB
ajfa-12904	266	14	from	from	ADP
ajfa-12904	266	15	https://doi.org/10.1007/s11142-013-9252-9	https://doi.org/10.1007/s11142-013-9252-9	NUM
ajfa-12904	266	16	asian	asian	ADJ
ajfa-12904	266	17	journal	journal	NOUN
ajfa-12904	266	18	of	of	ADP
ajfa-12904	266	19	finance	finance	PROPN
ajfa-12904	266	20	&	&	CCONJ
ajfa-12904	266	21	accounting	accounting	PROPN
ajfa-12904	266	22	issn	issn	PROPN
ajfa-12904	266	23	1946	1946	NUM
ajfa-12904	266	24	-	-	PUNCT
ajfa-12904	266	25	052x	052x	NOUN
ajfa-12904	266	26	2018	2018	NUM
ajfa-12904	266	27	,	,	PUNCT
ajfa-12904	266	28	vol	vol	NOUN
ajfa-12904	266	29	.	.	PROPN
ajfa-12904	266	30	10	10	NUM
ajfa-12904	266	31	,	,	PUNCT
ajfa-12904	266	32	no	no	INTJ
ajfa-12904	266	33	.	.	NOUN
ajfa-12904	266	34	1	1	NUM
ajfa-12904	266	35	ajfa.macrothink.org	ajfa.macrothink.org	PROPN
ajfa-12904	266	36	175	175	NUM
ajfa-12904	266	37	gassen	gassen	PROPN
ajfa-12904	266	38	,	,	PUNCT
ajfa-12904	266	39	j.	j.	PROPN
ajfa-12904	266	40	,	,	PUNCT
ajfa-12904	266	41	&	&	CCONJ
ajfa-12904	266	42	fülbier	fülbier	NOUN
ajfa-12904	266	43	,	,	PUNCT
ajfa-12904	266	44	r.	r.	PROPN
ajfa-12904	266	45	u.	u.	PROPN
ajfa-12904	266	46	(	(	PUNCT
ajfa-12904	266	47	2015	2015	NUM
ajfa-12904	266	48	)	)	PUNCT
ajfa-12904	266	49	.	.	PUNCT
ajfa-12904	267	1	do	do	AUX
ajfa-12904	267	2	creditors	creditor	NOUN
ajfa-12904	267	3	prefer	prefer	VERB
ajfa-12904	267	4	smooth	smooth	ADJ
ajfa-12904	267	5	earnings	earning	NOUN
ajfa-12904	267	6	?	?	PUNCT
ajfa-12904	268	1	evidence	evidence	NOUN
ajfa-12904	268	2	from	from	ADP
ajfa-12904	268	3	european	european	ADJ
ajfa-12904	268	4	private	private	ADJ
ajfa-12904	268	5	firms	firm	NOUN
ajfa-12904	268	6	.	.	PUNCT
ajfa-12904	269	1	journal	journal	PROPN
ajfa-12904	269	2	of	of	ADP
ajfa-12904	269	3	international	international	ADJ
ajfa-12904	269	4	accounting	accounting	NOUN
ajfa-12904	269	5	research	research	NOUN
ajfa-12904	269	6	,	,	PUNCT
ajfa-12904	269	7	14(2	14(2	NUM
ajfa-12904	269	8	)	)	PUNCT
ajfa-12904	269	9	,	,	PUNCT
ajfa-12904	269	10	151	151	NUM
ajfa-12904	269	11	-	-	SYM
ajfa-12904	269	12	180	180	NUM
ajfa-12904	269	13	.	.	PUNCT
ajfa-12904	270	1	http://doi.org/10.2308/jiar-51130	http://doi.org/10.2308/jiar-51130	NOUN
ajfa-12904	270	2	gaver	gaver	PROPN
ajfa-12904	270	3	,	,	PUNCT
ajfa-12904	270	4	j.	j.	PROPN
ajfa-12904	270	5	j.	j.	PROPN
ajfa-12904	270	6	,	,	PUNCT
ajfa-12904	270	7	gaver	gaver	PROPN
ajfa-12904	270	8	,	,	PUNCT
ajfa-12904	270	9	k.	k.	PROPN
ajfa-12904	270	10	m.	m.	PROPN
ajfa-12904	270	11	,	,	PUNCT
ajfa-12904	270	12	&	&	CCONJ
ajfa-12904	270	13	austin	austin	PROPN
ajfa-12904	270	14	,	,	PUNCT
ajfa-12904	270	15	j.	j.	PROPN
ajfa-12904	270	16	r.	r.	PROPN
ajfa-12904	270	17	(	(	PUNCT
ajfa-12904	270	18	1995	1995	NUM
ajfa-12904	270	19	)	)	PUNCT
ajfa-12904	270	20	.	.	PUNCT
ajfa-12904	271	1	additional	additional	ADJ
ajfa-12904	271	2	evidence	evidence	NOUN
ajfa-12904	271	3	on	on	ADP
ajfa-12904	271	4	bonus	bonus	NOUN
ajfa-12904	271	5	plans	plan	NOUN
ajfa-12904	271	6	and	and	CCONJ
ajfa-12904	271	7	income	income	NOUN
ajfa-12904	271	8	management	management	NOUN
ajfa-12904	271	9	.	.	PUNCT
ajfa-12904	272	1	journal	journal	NOUN
ajfa-12904	272	2	of	of	ADP
ajfa-12904	272	3	accounting	accounting	NOUN
ajfa-12904	272	4	and	and	CCONJ
ajfa-12904	272	5	economics	economic	NOUN
ajfa-12904	272	6	,	,	PUNCT
ajfa-12904	272	7	19(1	19(1	NUM
ajfa-12904	272	8	)	)	PUNCT
ajfa-12904	272	9	,	,	PUNCT
ajfa-12904	272	10	3	3	NUM
ajfa-12904	272	11	-	-	SYM
ajfa-12904	272	12	28	28	NUM
ajfa-12904	272	13	.	.	PUNCT
ajfa-12904	273	1	retrieved	retrieve	VERB
ajfa-12904	273	2	from	from	ADP
ajfa-12904	273	3	https://doi.org/10.1016/0165-4101(94)00358-c	https://doi.org/10.1016/0165-4101(94)00358-c	PROPN
ajfa-12904	273	4	goel	goel	PROPN
ajfa-12904	273	5	,	,	PUNCT
ajfa-12904	273	6	a.	a.	NOUN
ajfa-12904	273	7	m.	m.	NOUN
ajfa-12904	273	8	,	,	PUNCT
ajfa-12904	273	9	&	&	CCONJ
ajfa-12904	273	10	thakor	thakor	PROPN
ajfa-12904	273	11	,	,	PUNCT
ajfa-12904	273	12	a.	a.	PROPN
ajfa-12904	273	13	v.	v.	PROPN
ajfa-12904	273	14	(	(	PUNCT
ajfa-12904	273	15	2003	2003	NUM
ajfa-12904	273	16	)	)	PUNCT
ajfa-12904	273	17	.	.	PUNCT
ajfa-12904	274	1	why	why	SCONJ
ajfa-12904	274	2	do	do	AUX
ajfa-12904	274	3	firms	firm	NOUN
ajfa-12904	274	4	smooth	smooth	ADJ
ajfa-12904	274	5	earnings	earning	NOUN
ajfa-12904	274	6	?	?	PUNCT
ajfa-12904	275	1	journal	journal	NOUN
ajfa-12904	275	2	of	of	ADP
ajfa-12904	275	3	business	business	NOUN
ajfa-12904	275	4	,	,	PUNCT
ajfa-12904	275	5	76(1	76(1	PROPN
ajfa-12904	275	6	)	)	PUNCT
ajfa-12904	275	7	,	,	PUNCT
ajfa-12904	275	8	151	151	NUM
ajfa-12904	275	9	-	-	SYM
ajfa-12904	275	10	192	192	NUM
ajfa-12904	275	11	.	.	PUNCT
ajfa-12904	276	1	retrieved	retrieve	VERB
ajfa-12904	276	2	from	from	ADP
ajfa-12904	276	3	http://www.jstor.org/stable/10.1086/344117	http://www.jstor.org/stable/10.1086/344117	PROPN
ajfa-12904	276	4	graham	graham	PROPN
ajfa-12904	276	5	,	,	PUNCT
ajfa-12904	276	6	j.	j.	PROPN
ajfa-12904	276	7	r.	r.	PROPN
ajfa-12904	276	8	,	,	PUNCT
ajfa-12904	276	9	harvey	harvey	PROPN
ajfa-12904	276	10	,	,	PUNCT
ajfa-12904	276	11	c.	c.	PROPN
ajfa-12904	276	12	r.	r.	PROPN
ajfa-12904	276	13	,	,	PUNCT
ajfa-12904	276	14	&	&	CCONJ
ajfa-12904	276	15	rajgopal	rajgopal	PROPN
ajfa-12904	276	16	,	,	PUNCT
ajfa-12904	276	17	s.	s.	PROPN
ajfa-12904	276	18	(	(	PUNCT
ajfa-12904	276	19	2005	2005	NUM
ajfa-12904	276	20	)	)	PUNCT
ajfa-12904	276	21	.	.	PUNCT
ajfa-12904	277	1	the	the	DET
ajfa-12904	277	2	economic	economic	ADJ
ajfa-12904	277	3	implications	implication	NOUN
ajfa-12904	277	4	of	of	ADP
ajfa-12904	277	5	corporate	corporate	ADJ
ajfa-12904	277	6	financial	financial	ADJ
ajfa-12904	277	7	reporting	reporting	NOUN
ajfa-12904	277	8	.	.	PUNCT
ajfa-12904	278	1	journal	journal	NOUN
ajfa-12904	278	2	of	of	ADP
ajfa-12904	278	3	accounting	accounting	NOUN
ajfa-12904	278	4	and	and	CCONJ
ajfa-12904	278	5	economics	economic	NOUN
ajfa-12904	278	6	,	,	PUNCT
ajfa-12904	278	7	40(1	40(1	NOUN
ajfa-12904	278	8	)	)	PUNCT
ajfa-12904	278	9	,	,	PUNCT
ajfa-12904	278	10	3	3	NUM
ajfa-12904	278	11	-	-	SYM
ajfa-12904	278	12	73	73	NUM
ajfa-12904	278	13	.	.	PUNCT
ajfa-12904	279	1	retrieved	retrieve	VERB
ajfa-12904	279	2	from	from	ADP
ajfa-12904	279	3	https://doi.org/10.1016/j.jacceco.2005.01.002	https://doi.org/10.1016/j.jacceco.2005.01.002	PROPN
ajfa-12904	279	4	grant	grant	NOUN
ajfa-12904	279	5	,	,	PUNCT
ajfa-12904	279	6	j.	j.	PROPN
ajfa-12904	279	7	,	,	PUNCT
ajfa-12904	279	8	markarian	markarian	PROPN
ajfa-12904	279	9	,	,	PUNCT
ajfa-12904	279	10	g.	g.	PROPN
ajfa-12904	279	11	,	,	PUNCT
ajfa-12904	279	12	&	&	CCONJ
ajfa-12904	279	13	parbonetti	parbonetti	PROPN
ajfa-12904	279	14	,	,	PUNCT
ajfa-12904	279	15	a.	a.	NOUN
ajfa-12904	279	16	(	(	PUNCT
ajfa-12904	279	17	2009	2009	NUM
ajfa-12904	279	18	)	)	PUNCT
ajfa-12904	279	19	.	.	PUNCT
ajfa-12904	280	1	ceo	ceo	NOUN
ajfa-12904	280	2	risk	risk	NOUN
ajfa-12904	280	3	-	-	PUNCT
ajfa-12904	280	4	related	relate	VERB
ajfa-12904	280	5	incentives	incentive	NOUN
ajfa-12904	280	6	and	and	CCONJ
ajfa-12904	280	7	income	income	NOUN
ajfa-12904	280	8	smoothing	smoothing	NOUN
ajfa-12904	280	9	.	.	PUNCT
ajfa-12904	281	1	contemporary	contemporary	ADJ
ajfa-12904	281	2	accounting	accounting	NOUN
ajfa-12904	281	3	research	research	PROPN
ajfa-12904	281	4	,	,	PUNCT
ajfa-12904	281	5	26(4	26(4	NUM
ajfa-12904	281	6	)	)	PUNCT
ajfa-12904	281	7	,	,	PUNCT
ajfa-12904	281	8	1029	1029	NUM
ajfa-12904	281	9	-	-	SYM
ajfa-12904	281	10	1065	1065	NUM
ajfa-12904	281	11	.	.	PUNCT
ajfa-12904	282	1	http://doi.org/10.1506/car.26.4.2	http://doi.org/10.1506/car.26.4.2	VERB
ajfa-12904	282	2	healy	healy	PROPN
ajfa-12904	282	3	,	,	PUNCT
ajfa-12904	282	4	p.	p.	NOUN
ajfa-12904	282	5	(	(	PUNCT
ajfa-12904	282	6	1985	1985	NUM
ajfa-12904	282	7	)	)	PUNCT
ajfa-12904	282	8	.	.	PUNCT
ajfa-12904	283	1	the	the	DET
ajfa-12904	283	2	effect	effect	NOUN
ajfa-12904	283	3	of	of	ADP
ajfa-12904	283	4	bonus	bonus	NOUN
ajfa-12904	283	5	schemes	scheme	NOUN
ajfa-12904	283	6	on	on	ADP
ajfa-12904	283	7	accounting	accounting	NOUN
ajfa-12904	283	8	decisions	decision	NOUN
ajfa-12904	283	9	.	.	PUNCT
ajfa-12904	284	1	journal	journal	NOUN
ajfa-12904	284	2	of	of	ADP
ajfa-12904	284	3	accounting	accounting	NOUN
ajfa-12904	284	4	and	and	CCONJ
ajfa-12904	284	5	economics	economic	NOUN
ajfa-12904	284	6	,	,	PUNCT
ajfa-12904	284	7	7(1	7(1	NUM
ajfa-12904	284	8	-	-	SYM
ajfa-12904	284	9	3	3	NUM
ajfa-12904	284	10	)	)	PUNCT
ajfa-12904	284	11	,	,	PUNCT
ajfa-12904	284	12	85	85	NUM
ajfa-12904	284	13	-	-	SYM
ajfa-12904	284	14	107	107	NUM
ajfa-12904	284	15	.	.	PUNCT
ajfa-12904	285	1	retrieved	retrieve	VERB
ajfa-12904	285	2	from	from	ADP
ajfa-12904	285	3	https://doi.org/10.1016/0165-4101(85)90029-1	https://doi.org/10.1016/0165-4101(85)90029-1	PROPN
ajfa-12904	285	4	hope	hope	NOUN
ajfa-12904	285	5	,	,	PUNCT
ajfa-12904	285	6	o.	o.	PROPN
ajfa-12904	285	7	,	,	PUNCT
ajfa-12904	285	8	thomas	thomas	PROPN
ajfa-12904	285	9	,	,	PUNCT
ajfa-12904	285	10	w.	w.	PROPN
ajfa-12904	285	11	,	,	PUNCT
ajfa-12904	285	12	&	&	CCONJ
ajfa-12904	285	13	vyas	vyas	PROPN
ajfa-12904	285	14	,	,	PUNCT
ajfa-12904	285	15	d.	d.	PROPN
ajfa-12904	285	16	(	(	PUNCT
ajfa-12904	285	17	2011	2011	NUM
ajfa-12904	285	18	)	)	PUNCT
ajfa-12904	285	19	.	.	PUNCT
ajfa-12904	286	1	financial	financial	ADJ
ajfa-12904	286	2	credibility	credibility	NOUN
ajfa-12904	286	3	,	,	PUNCT
ajfa-12904	286	4	ownership	ownership	NOUN
ajfa-12904	286	5	,	,	PUNCT
ajfa-12904	286	6	and	and	CCONJ
ajfa-12904	286	7	financing	financing	NOUN
ajfa-12904	286	8	constraints	constraint	NOUN
ajfa-12904	286	9	in	in	ADP
ajfa-12904	286	10	private	private	ADJ
ajfa-12904	286	11	firms	firm	NOUN
ajfa-12904	286	12	.	.	PUNCT
ajfa-12904	287	1	journal	journal	PROPN
ajfa-12904	287	2	of	of	ADP
ajfa-12904	287	3	international	international	ADJ
ajfa-12904	287	4	business	business	NOUN
ajfa-12904	287	5	studies	study	NOUN
ajfa-12904	287	6	,	,	PUNCT
ajfa-12904	287	7	42(7	42(7	NOUN
ajfa-12904	287	8	)	)	PUNCT
ajfa-12904	287	9	,	,	PUNCT
ajfa-12904	287	10	935	935	NUM
ajfa-12904	287	11	-	-	SYM
ajfa-12904	287	12	957	957	NUM
ajfa-12904	287	13	.	.	PUNCT
ajfa-12904	288	1	http://doi.org/10.1057/jibs.2011.23	http://doi.org/10.1057/jibs.2011.23	PROPN
ajfa-12904	288	2	hope	hope	PROPN
ajfa-12904	288	3	,	,	PUNCT
ajfa-12904	288	4	o.	o.	PROPN
ajfa-12904	288	5	,	,	PUNCT
ajfa-12904	288	6	&	&	CCONJ
ajfa-12904	288	7	vyas	vyas	PROPN
ajfa-12904	288	8	,	,	PUNCT
ajfa-12904	288	9	d.	d.	PROPN
ajfa-12904	288	10	(	(	PUNCT
ajfa-12904	288	11	2017	2017	NUM
ajfa-12904	288	12	)	)	PUNCT
ajfa-12904	288	13	.	.	PUNCT
ajfa-12904	289	1	private	private	ADJ
ajfa-12904	289	2	company	company	NOUN
ajfa-12904	289	3	finance	finance	NOUN
ajfa-12904	289	4	and	and	CCONJ
ajfa-12904	289	5	financial	financial	ADJ
ajfa-12904	289	6	reporting	reporting	NOUN
ajfa-12904	289	7	.	.	PUNCT
ajfa-12904	290	1	accounting	accounting	NOUN
ajfa-12904	290	2	and	and	CCONJ
ajfa-12904	290	3	business	business	NOUN
ajfa-12904	290	4	research	research	NOUN
ajfa-12904	290	5	,	,	PUNCT
ajfa-12904	290	6	47(5	47(5	NOUN
ajfa-12904	290	7	)	)	PUNCT
ajfa-12904	290	8	,	,	PUNCT
ajfa-12904	290	9	506	506	NUM
ajfa-12904	290	10	-	-	SYM
ajfa-12904	290	11	537	537	NUM
ajfa-12904	290	12	.	.	PUNCT
ajfa-12904	291	1	http://doi.org/10.1080/00014788.2017.1303963	http://doi.org/10.1080/00014788.2017.1303963	PROPN
ajfa-12904	291	2	jayaraman	jayaraman	PROPN
ajfa-12904	291	3	,	,	PUNCT
ajfa-12904	291	4	s.	s.	PROPN
ajfa-12904	291	5	(	(	PUNCT
ajfa-12904	291	6	2008	2008	NUM
ajfa-12904	291	7	)	)	PUNCT
ajfa-12904	291	8	.	.	PUNCT
ajfa-12904	292	1	earnings	earning	NOUN
ajfa-12904	292	2	volatility	volatility	NOUN
ajfa-12904	292	3	,	,	PUNCT
ajfa-12904	292	4	cash	cash	NOUN
ajfa-12904	292	5	flow	flow	NOUN
ajfa-12904	292	6	volatility	volatility	NOUN
ajfa-12904	292	7	and	and	CCONJ
ajfa-12904	292	8	informed	informed	ADJ
ajfa-12904	292	9	trading	trading	NOUN
ajfa-12904	292	10	.	.	PUNCT
ajfa-12904	293	1	journal	journal	NOUN
ajfa-12904	293	2	of	of	ADP
ajfa-12904	293	3	accounting	accounting	NOUN
ajfa-12904	293	4	research	research	NOUN
ajfa-12904	293	5	,	,	PUNCT
ajfa-12904	293	6	46(4	46(4	NOUN
ajfa-12904	293	7	)	)	PUNCT
ajfa-12904	293	8	,	,	PUNCT
ajfa-12904	293	9	809	809	NUM
ajfa-12904	293	10	-	-	SYM
ajfa-12904	293	11	851	851	NUM
ajfa-12904	293	12	.	.	PUNCT
ajfa-12904	294	1	retrieved	retrieve	VERB
ajfa-12904	294	2	from	from	ADP
ajfa-12904	294	3	https://doi.org/10.1111/j.1475-679x.2008.00293.x	https://doi.org/10.1111/j.1475-679x.2008.00293.x	PROPN
ajfa-12904	294	4	jung	jung	PROPN
ajfa-12904	294	5	,	,	PUNCT
ajfa-12904	294	6	b.	b.	PROPN
ajfa-12904	294	7	,	,	PUNCT
ajfa-12904	294	8	soderstrom	soderstrom	PROPN
ajfa-12904	294	9	,	,	PUNCT
ajfa-12904	294	10	n.	n.	NOUN
ajfa-12904	294	11	,	,	PUNCT
ajfa-12904	294	12	&	&	CCONJ
ajfa-12904	294	13	yang	yang	PROPN
ajfa-12904	294	14	,	,	PUNCT
ajfa-12904	294	15	y.	y.	PROPN
ajfa-12904	294	16	s.	s.	PROPN
ajfa-12904	294	17	(	(	PUNCT
ajfa-12904	294	18	2013	2013	NUM
ajfa-12904	294	19	)	)	PUNCT
ajfa-12904	294	20	.	.	PUNCT
ajfa-12904	295	1	earnings	earning	NOUN
ajfa-12904	295	2	smoothing	smooth	VERB
ajfa-12904	295	3	activities	activity	NOUN
ajfa-12904	295	4	of	of	ADP
ajfa-12904	295	5	firms	firm	NOUN
ajfa-12904	295	6	to	to	PART
ajfa-12904	295	7	manage	manage	VERB
ajfa-12904	295	8	credit	credit	NOUN
ajfa-12904	295	9	ratings	rating	NOUN
ajfa-12904	295	10	.	.	PUNCT
ajfa-12904	296	1	contemporary	contemporary	ADJ
ajfa-12904	296	2	accounting	accounting	NOUN
ajfa-12904	296	3	research	research	NOUN
ajfa-12904	296	4	,	,	PUNCT
ajfa-12904	296	5	30(2	30(2	NUM
ajfa-12904	296	6	)	)	PUNCT
ajfa-12904	296	7	,	,	PUNCT
ajfa-12904	296	8	645	645	NUM
ajfa-12904	296	9	-	-	SYM
ajfa-12904	296	10	676	676	NUM
ajfa-12904	296	11	.	.	PUNCT
ajfa-12904	297	1	http://doi.org/10.1111/j.1911-3846.2012.01170.x	http://doi.org/10.1111/j.1911-3846.2012.01170.x	PROPN
ajfa-12904	297	2	khurana	khurana	PROPN
ajfa-12904	297	3	,	,	PUNCT
ajfa-12904	297	4	i.	i.	PROPN
ajfa-12904	297	5	k.	k.	PROPN
ajfa-12904	297	6	,	,	PUNCT
ajfa-12904	297	7	pereira	pereira	PROPN
ajfa-12904	297	8	,	,	PUNCT
ajfa-12904	297	9	r.	r.	PROPN
ajfa-12904	297	10	,	,	PUNCT
ajfa-12904	297	11	&	&	CCONJ
ajfa-12904	297	12	zhang	zhang	PROPN
ajfa-12904	297	13	,	,	PUNCT
ajfa-12904	297	14	e.	e.	PROPN
ajfa-12904	297	15	(	(	PUNCT
ajfa-12904	297	16	2017	2017	NUM
ajfa-12904	297	17	)	)	PUNCT
ajfa-12904	297	18	.	.	PUNCT
ajfa-12904	297	19	is	be	AUX
ajfa-12904	297	20	real	real	ADJ
ajfa-12904	297	21	earnings	earning	NOUN
ajfa-12904	297	22	smoothing	smooth	VERB
ajfa-12904	297	23	harmful	harmful	ADJ
ajfa-12904	297	24	?	?	PUNCT
ajfa-12904	298	1	evidence	evidence	NOUN
ajfa-12904	298	2	from	from	ADP
ajfa-12904	298	3	firm	firm	ADJ
ajfa-12904	298	4	-	-	PUNCT
ajfa-12904	298	5	sspecific	sspecific	ADJ
ajfa-12904	298	6	stock	stock	NOUN
ajfa-12904	298	7	price	price	NOUN
ajfa-12904	298	8	crash	crash	NOUN
ajfa-12904	298	9	risk	risk	NOUN
ajfa-12904	298	10	.	.	PUNCT
ajfa-12904	299	1	contemporary	contemporary	ADJ
ajfa-12904	299	2	accounting	accounting	NOUN
ajfa-12904	299	3	research	research	PROPN
ajfa-12904	299	4	.	.	PUNCT
ajfa-12904	300	1	http://doi.org/10.1111/ijlh.12426	http://doi.org/10.1111/ijlh.12426	PROPN
ajfa-12904	300	2	kirschenheiter	kirschenheiter	PROPN
ajfa-12904	300	3	,	,	PUNCT
ajfa-12904	300	4	m.	m.	NOUN
ajfa-12904	300	5	,	,	PUNCT
ajfa-12904	300	6	&	&	CCONJ
ajfa-12904	300	7	melumad	melumad	PROPN
ajfa-12904	300	8	,	,	PUNCT
ajfa-12904	300	9	n.	n.	PROPN
ajfa-12904	300	10	d.	d.	PROPN
ajfa-12904	300	11	(	(	PUNCT
ajfa-12904	300	12	2002	2002	NUM
ajfa-12904	300	13	)	)	PUNCT
ajfa-12904	300	14	.	.	PUNCT
ajfa-12904	301	1	can	can	AUX
ajfa-12904	301	2	“	"	PUNCT
ajfa-12904	301	3	big	big	ADJ
ajfa-12904	301	4	bath	bath	NOUN
ajfa-12904	301	5	”	"	PUNCT
ajfa-12904	301	6	and	and	CCONJ
ajfa-12904	301	7	earnings	earning	NOUN
ajfa-12904	301	8	smoothing	smooth	VERB
ajfa-12904	301	9	co	co	NOUN
ajfa-12904	301	10	-	-	NOUN
ajfa-12904	301	11	exist	exist	VERB
ajfa-12904	301	12	as	as	ADP
ajfa-12904	301	13	equilibrium	equilibrium	NOUN
ajfa-12904	301	14	financial	financial	ADJ
ajfa-12904	301	15	reporting	reporting	NOUN
ajfa-12904	301	16	strategies	strategy	NOUN
ajfa-12904	301	17	?	?	PUNCT
ajfa-12904	302	1	journal	journal	NOUN
ajfa-12904	302	2	of	of	ADP
ajfa-12904	302	3	accounting	accounting	NOUN
ajfa-12904	302	4	research	research	NOUN
ajfa-12904	302	5	,	,	PUNCT
ajfa-12904	302	6	40(3	40(3	NUM
ajfa-12904	302	7	)	)	PUNCT
ajfa-12904	302	8	,	,	PUNCT
ajfa-12904	302	9	761	761	NUM
ajfa-12904	302	10	-	-	SYM
ajfa-12904	302	11	796	796	NUM
ajfa-12904	302	12	.	.	PUNCT
ajfa-12904	302	13	retrieved	retrieve	VERB
ajfa-12904	302	14	from	from	ADP
ajfa-12904	302	15	https://doi.org/10.1111/1475-679x.00070	https://doi.org/10.1111/1475-679x.00070	PROPN
ajfa-12904	302	16	kothari	kothari	PROPN
ajfa-12904	302	17	,	,	PUNCT
ajfa-12904	302	18	a.	a.	PROPN
ajfa-12904	302	19	s.	s.	PROPN
ajfa-12904	302	20	p.	p.	PROPN
ajfa-12904	302	21	,	,	PUNCT
ajfa-12904	302	22	shu	shu	PROPN
ajfa-12904	302	23	,	,	PUNCT
ajfa-12904	302	24	s.	s.	PROPN
ajfa-12904	302	25	,	,	PUNCT
ajfa-12904	302	26	&	&	CCONJ
ajfa-12904	302	27	wysocki	wysocki	PROPN
ajfa-12904	302	28	,	,	PUNCT
ajfa-12904	302	29	p.	p.	PROPN
ajfa-12904	302	30	d.	d.	PROPN
ajfa-12904	302	31	(	(	PUNCT
ajfa-12904	302	32	2009	2009	NUM
ajfa-12904	302	33	)	)	PUNCT
ajfa-12904	302	34	.	.	PUNCT
ajfa-12904	303	1	do	do	AUX
ajfa-12904	303	2	managers	manager	NOUN
ajfa-12904	303	3	withhold	withhold	VERB
ajfa-12904	303	4	bad	bad	ADJ
ajfa-12904	303	5	news	news	NOUN
ajfa-12904	303	6	?	?	PUNCT
ajfa-12904	304	1	journal	journal	NOUN
ajfa-12904	304	2	of	of	ADP
ajfa-12904	304	3	accounting	accounting	NOUN
ajfa-12904	304	4	research	research	NOUN
ajfa-12904	304	5	,	,	PUNCT
ajfa-12904	304	6	47(1	47(1	NUM
ajfa-12904	304	7	)	)	PUNCT
ajfa-12904	304	8	,	,	PUNCT
ajfa-12904	304	9	241	241	NUM
ajfa-12904	304	10	-	-	SYM
ajfa-12904	304	11	276	276	NUM
ajfa-12904	304	12	.	.	PUNCT
ajfa-12904	305	1	http://doi.org/10.1111/j.l475-679x.2008.00318.x	http://doi.org/10.1111/j.l475-679x.2008.00318.x	PROPN
ajfa-12904	305	2	asian	asian	PROPN
ajfa-12904	305	3	journal	journal	NOUN
ajfa-12904	305	4	of	of	ADP
ajfa-12904	305	5	finance	finance	PROPN
ajfa-12904	305	6	&	&	CCONJ
ajfa-12904	305	7	accounting	accounting	PROPN
ajfa-12904	305	8	issn	issn	PROPN
ajfa-12904	305	9	1946	1946	NUM
ajfa-12904	305	10	-	-	PUNCT
ajfa-12904	305	11	052x	052x	NOUN
ajfa-12904	305	12	2018	2018	NUM
ajfa-12904	305	13	,	,	PUNCT
ajfa-12904	305	14	vol	vol	NOUN
ajfa-12904	305	15	.	.	PROPN
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ajfa-12904	305	17	,	,	PUNCT
ajfa-12904	305	18	no	no	INTJ
ajfa-12904	305	19	.	.	NOUN
ajfa-12904	305	20	1	1	NUM
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ajfa-12904	306	4	,	,	PUNCT
ajfa-12904	306	5	s.	s.	PROPN
ajfa-12904	306	6	,	,	PUNCT
ajfa-12904	306	7	&	&	CCONJ
ajfa-12904	306	8	richie	richie	PROPN
ajfa-12904	306	9	,	,	PUNCT
ajfa-12904	306	10	n.	n.	NOUN
ajfa-12904	306	11	(	(	PUNCT
ajfa-12904	306	12	2016	2016	NUM
ajfa-12904	306	13	)	)	PUNCT
ajfa-12904	306	14	.	.	PUNCT
ajfa-12904	307	1	income	income	NOUN
ajfa-12904	307	2	smoothing	smoothing	NOUN
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ajfa-12904	307	4	the	the	DET
ajfa-12904	307	5	cost	cost	NOUN
ajfa-12904	307	6	of	of	ADP
ajfa-12904	307	7	debt	debt	NOUN
ajfa-12904	307	8	.	.	PUNCT
ajfa-12904	308	1	china	china	PROPN
ajfa-12904	308	2	journal	journal	PROPN
ajfa-12904	308	3	of	of	ADP
ajfa-12904	308	4	accounting	accounting	PROPN
ajfa-12904	308	5	research	research	NOUN
ajfa-12904	308	6	,	,	PUNCT
ajfa-12904	308	7	9(3	9(3	NUM
ajfa-12904	308	8	)	)	PUNCT
ajfa-12904	308	9	,	,	PUNCT
ajfa-12904	308	10	175	175	NUM
ajfa-12904	308	11	-	-	SYM
ajfa-12904	308	12	190	190	NUM
ajfa-12904	308	13	.	.	PUNCT
ajfa-12904	308	14	retrieved	retrieve	VERB
ajfa-12904	308	15	from	from	ADP
ajfa-12904	308	16	https://doi.org/10.1016/j.cjar.2016.03.001	https://doi.org/10.1016/j.cjar.2016.03.001	NUM
ajfa-12904	308	17	maffet	maffet	NOUN
ajfa-12904	308	18	,	,	PUNCT
ajfa-12904	308	19	m.	m.	NOUN
ajfa-12904	308	20	(	(	PUNCT
ajfa-12904	308	21	2012	2012	NUM
ajfa-12904	308	22	)	)	PUNCT
ajfa-12904	308	23	.	.	PUNCT
ajfa-12904	309	1	financial	financial	ADJ
ajfa-12904	309	2	reporting	reporting	NOUN
ajfa-12904	309	3	opacity	opacity	NOUN
ajfa-12904	309	4	and	and	CCONJ
ajfa-12904	309	5	informed	inform	VERB
ajfa-12904	309	6	trading	trading	NOUN
ajfa-12904	309	7	by	by	ADP
ajfa-12904	309	8	international	international	ADJ
ajfa-12904	309	9	institutional	institutional	ADJ
ajfa-12904	309	10	investors	investor	NOUN
ajfa-12904	309	11	.	.	PUNCT
ajfa-12904	310	1	journal	journal	NOUN
ajfa-12904	310	2	of	of	ADP
ajfa-12904	310	3	accounting	accounting	NOUN
ajfa-12904	310	4	and	and	CCONJ
ajfa-12904	310	5	economics	economic	NOUN
ajfa-12904	310	6	,	,	PUNCT
ajfa-12904	310	7	54(2	54(2	NUM
ajfa-12904	310	8	)	)	PUNCT
ajfa-12904	310	9	,	,	PUNCT
ajfa-12904	310	10	201	201	NUM
ajfa-12904	310	11	-	-	SYM
ajfa-12904	310	12	220	220	NUM
ajfa-12904	310	13	.	.	PUNCT
ajfa-12904	310	14	retrieved	retrieve	VERB
ajfa-12904	310	15	from	from	ADP
ajfa-12904	310	16	https://doi.org/10.1016/j.jacceco.2012.09.002	https://doi.org/10.1016/j.jacceco.2012.09.002	PROPN
ajfa-12904	310	17	moses	moses	PROPN
ajfa-12904	310	18	,	,	PUNCT
ajfa-12904	310	19	o.	o.	PROPN
ajfa-12904	310	20	d.	d.	PROPN
ajfa-12904	310	21	(	(	PUNCT
ajfa-12904	310	22	1987	1987	NUM
ajfa-12904	310	23	)	)	PUNCT
ajfa-12904	310	24	.	.	PUNCT
ajfa-12904	311	1	income	income	NOUN
ajfa-12904	311	2	smoothing	smoothing	NOUN
ajfa-12904	311	3	and	and	CCONJ
ajfa-12904	311	4	incentives	incentive	NOUN
ajfa-12904	311	5	:	:	PUNCT
ajfa-12904	311	6	empirical	empirical	ADJ
ajfa-12904	311	7	tests	test	NOUN
ajfa-12904	311	8	using	use	VERB
ajfa-12904	311	9	accounting	accounting	NOUN
ajfa-12904	311	10	changes	change	NOUN
ajfa-12904	311	11	.	.	PUNCT
ajfa-12904	312	1	the	the	DET
ajfa-12904	312	2	accounting	accounting	NOUN
ajfa-12904	312	3	review	review	NOUN
ajfa-12904	312	4	,	,	PUNCT
ajfa-12904	312	5	358	358	NUM
ajfa-12904	312	6	-	-	SYM
ajfa-12904	312	7	377	377	NUM
ajfa-12904	312	8	.	.	PUNCT
ajfa-12904	313	1	http://doi.org/http://www.jstor.org/stable/247931	http://doi.org/http://www.jstor.org/stable/247931	PROPN
ajfa-12904	313	2	ronen	ronen	PROPN
ajfa-12904	313	3	,	,	PUNCT
ajfa-12904	313	4	j.	j.	PROPN
ajfa-12904	313	5	,	,	PUNCT
ajfa-12904	313	6	&	&	CCONJ
ajfa-12904	313	7	sadan	sadan	PROPN
ajfa-12904	313	8	,	,	PUNCT
ajfa-12904	313	9	s.	s.	PROPN
ajfa-12904	313	10	(	(	PUNCT
ajfa-12904	313	11	1981	1981	NUM
ajfa-12904	313	12	)	)	PUNCT
ajfa-12904	313	13	.	.	PUNCT
ajfa-12904	314	1	smoothing	smooth	VERB
ajfa-12904	314	2	income	income	NOUN
ajfa-12904	314	3	numbers	number	NOUN
ajfa-12904	314	4	:	:	PUNCT
ajfa-12904	314	5	objectives	objective	NOUN
ajfa-12904	314	6	,	,	PUNCT
ajfa-12904	314	7	means	mean	NOUN
ajfa-12904	314	8	and	and	CCONJ
ajfa-12904	314	9	implications	implication	NOUN
ajfa-12904	314	10	.	.	PUNCT
ajfa-12904	315	1	boston	boston	PROPN
ajfa-12904	315	2	:	:	PUNCT
ajfa-12904	315	3	addison	addison	PROPN
ajfa-12904	315	4	-	-	PUNCT
ajfa-12904	315	5	wesley	wesley	PROPN
ajfa-12904	315	6	publishing	publishing	PROPN
ajfa-12904	315	7	company	company	NOUN
ajfa-12904	315	8	.	.	PUNCT
ajfa-12904	316	1	saleh	saleh	PROPN
ajfa-12904	316	2	,	,	PUNCT
ajfa-12904	316	3	n.	n.	PROPN
ajfa-12904	316	4	m.	m.	NOUN
ajfa-12904	316	5	,	,	PUNCT
ajfa-12904	316	6	&	&	CCONJ
ajfa-12904	316	7	ahmed	ahmed	PROPN
ajfa-12904	316	8	,	,	PUNCT
ajfa-12904	316	9	k.	k.	PROPN
ajfa-12904	316	10	(	(	PUNCT
ajfa-12904	316	11	2005	2005	NUM
ajfa-12904	316	12	)	)	PUNCT
ajfa-12904	316	13	.	.	PUNCT
ajfa-12904	317	1	earnings	earning	NOUN
ajfa-12904	317	2	management	management	NOUN
ajfa-12904	317	3	of	of	ADP
ajfa-12904	317	4	distressed	distressed	ADJ
ajfa-12904	317	5	firms	firm	NOUN
ajfa-12904	317	6	during	during	ADP
ajfa-12904	317	7	debt	debt	NOUN
ajfa-12904	317	8	renegotiation	renegotiation	NOUN
ajfa-12904	317	9	.	.	PUNCT
ajfa-12904	318	1	accounting	accounting	NOUN
ajfa-12904	318	2	and	and	CCONJ
ajfa-12904	318	3	business	business	NOUN
ajfa-12904	318	4	research	research	NOUN
ajfa-12904	318	5	,	,	PUNCT
ajfa-12904	318	6	35(1	35(1	NUM
ajfa-12904	318	7	)	)	PUNCT
ajfa-12904	318	8	,	,	PUNCT
ajfa-12904	318	9	69	69	NUM
ajfa-12904	318	10	-	-	SYM
ajfa-12904	318	11	86	86	NUM
ajfa-12904	318	12	.	.	PUNCT
ajfa-12904	319	1	retrieved	retrieve	VERB
ajfa-12904	319	2	from	from	ADP
ajfa-12904	319	3	https://doi.org/10.1080/00014788.2005.9729663	https://doi.org/10.1080/00014788.2005.9729663	PROPN
ajfa-12904	319	4	sankar	sankar	PROPN
ajfa-12904	319	5	,	,	PUNCT
ajfa-12904	319	6	m.	m.	PROPN
ajfa-12904	319	7	r.	r.	PROPN
ajfa-12904	319	8	,	,	PUNCT
ajfa-12904	319	9	&	&	CCONJ
ajfa-12904	319	10	subramanyam	subramanyam	PROPN
ajfa-12904	319	11	,	,	PUNCT
ajfa-12904	319	12	k.	k.	PROPN
ajfa-12904	319	13	r.	r.	PROPN
ajfa-12904	319	14	(	(	PUNCT
ajfa-12904	319	15	2001	2001	NUM
ajfa-12904	319	16	)	)	PUNCT
ajfa-12904	319	17	.	.	PUNCT
ajfa-12904	320	1	reporting	report	VERB
ajfa-12904	320	2	discretion	discretion	NOUN
ajfa-12904	320	3	and	and	CCONJ
ajfa-12904	320	4	private	private	ADJ
ajfa-12904	320	5	information	information	NOUN
ajfa-12904	320	6	communication	communication	NOUN
ajfa-12904	320	7	through	through	ADP
ajfa-12904	320	8	earnings	earning	NOUN
ajfa-12904	320	9	.	.	PUNCT
ajfa-12904	321	1	journal	journal	NOUN
ajfa-12904	321	2	of	of	ADP
ajfa-12904	321	3	accounting	accounting	NOUN
ajfa-12904	321	4	research	research	NOUN
ajfa-12904	321	5	,	,	PUNCT
ajfa-12904	321	6	39(2	39(2	NUM
ajfa-12904	321	7	)	)	PUNCT
ajfa-12904	321	8	,	,	PUNCT
ajfa-12904	321	9	365	365	NUM
ajfa-12904	321	10	-	-	SYM
ajfa-12904	321	11	386	386	NUM
ajfa-12904	321	12	.	.	PUNCT
ajfa-12904	321	13	retrieved	retrieve	VERB
ajfa-12904	321	14	from	from	ADP
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ajfa-12904	321	17	,	,	PUNCT
ajfa-12904	321	18	n.	n.	PROPN
ajfa-12904	321	19	a.	a.	PROPN
ajfa-12904	321	20	,	,	PUNCT
ajfa-12904	321	21	&	&	CCONJ
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ajfa-12904	321	23	,	,	PUNCT
ajfa-12904	321	24	s.	s.	PROPN
ajfa-12904	321	25	(	(	PUNCT
ajfa-12904	321	26	2018	2018	NUM
ajfa-12904	321	27	)	)	PUNCT
ajfa-12904	321	28	.	.	PUNCT
ajfa-12904	322	1	earnings	earning	NOUN
ajfa-12904	322	2	smoothing	smooth	VERB
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ajfa-12904	322	4	information	information	NOUN
ajfa-12904	322	5	signaling	signal	VERB
ajfa-12904	322	6	or	or	CCONJ
ajfa-12904	322	7	garbling	garbling	NOUN
ajfa-12904	322	8	:	:	PUNCT
ajfa-12904	322	9	a	a	DET
ajfa-12904	322	10	review	review	NOUN
ajfa-12904	322	11	of	of	ADP
ajfa-12904	322	12	literature	literature	NOUN
ajfa-12904	322	13	.	.	PUNCT
ajfa-12904	323	1	asian	asian	ADJ
ajfa-12904	323	2	journal	journal	PROPN
ajfa-12904	323	3	of	of	ADP
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ajfa-12904	323	5	&	&	CCONJ
ajfa-12904	323	6	accounting	accounting	NOUN
ajfa-12904	323	7	,	,	PUNCT
ajfa-12904	323	8	10(1	10(1	NUM
ajfa-12904	323	9	)	)	PUNCT
ajfa-12904	323	10	,	,	PUNCT
ajfa-12904	323	11	131	131	NUM
ajfa-12904	323	12	-	-	SYM
ajfa-12904	323	13	142	142	NUM
ajfa-12904	323	14	.	.	PUNCT
ajfa-12904	324	1	http://doi.org/10.5296/ajfa.v10i1.12768	http://doi.org/10.5296/ajfa.v10i1.12768	NUM
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ajfa-12904	324	3	,	,	PUNCT
ajfa-12904	324	4	a.	a.	NOUN
ajfa-12904	324	5	p.	p.	NOUN
ajfa-12904	324	6	(	(	PUNCT
ajfa-12904	324	7	1994	1994	NUM
ajfa-12904	324	8	)	)	PUNCT
ajfa-12904	324	9	.	.	PUNCT
ajfa-12904	325	1	debt	debt	NOUN
ajfa-12904	325	2	-	-	PUNCT
ajfa-12904	325	3	covenant	covenant	NOUN
ajfa-12904	325	4	violations	violation	NOUN
ajfa-12904	325	5	and	and	CCONJ
ajfa-12904	325	6	managers	manager	NOUN
ajfa-12904	325	7	’	’	PART
ajfa-12904	325	8	accounting	accounting	NOUN
ajfa-12904	325	9	responses	response	NOUN
ajfa-12904	325	10	.	.	PUNCT
ajfa-12904	326	1	journal	journal	NOUN
ajfa-12904	326	2	of	of	ADP
ajfa-12904	326	3	accounting	accounting	NOUN
ajfa-12904	326	4	and	and	CCONJ
ajfa-12904	326	5	economics1	economics1	NOUN
ajfa-12904	326	6	,	,	PUNCT
ajfa-12904	326	7	17(3	17(3	NUM
ajfa-12904	326	8	)	)	PUNCT
ajfa-12904	326	9	,	,	PUNCT
ajfa-12904	326	10	281	281	NUM
ajfa-12904	326	11	-	-	SYM
ajfa-12904	326	12	308	308	NUM
ajfa-12904	326	13	.	.	PUNCT
ajfa-12904	326	14	retrieved	retrieve	VERB
ajfa-12904	326	15	from	from	ADP
ajfa-12904	326	16	https://doi.org/10.1016/0165-4101(94)90030-2	https://doi.org/10.1016/0165-4101(94)90030-2	PROPN
ajfa-12904	326	17	trueman	trueman	NOUN
ajfa-12904	326	18	,	,	PUNCT
ajfa-12904	326	19	b.	b.	PROPN
ajfa-12904	326	20	,	,	PUNCT
ajfa-12904	326	21	&	&	CCONJ
ajfa-12904	326	22	titman	titman	PROPN
ajfa-12904	326	23	,	,	PUNCT
ajfa-12904	326	24	s.	s.	PROPN
ajfa-12904	326	25	(	(	PUNCT
ajfa-12904	326	26	1988	1988	NUM
ajfa-12904	326	27	)	)	PUNCT
ajfa-12904	326	28	.	.	PUNCT
ajfa-12904	327	1	an	an	DET
ajfa-12904	327	2	explanation	explanation	NOUN
ajfa-12904	327	3	for	for	ADP
ajfa-12904	327	4	accounting	accounting	NOUN
ajfa-12904	327	5	income	income	NOUN
ajfa-12904	327	6	smoothing	smoothing	NOUN
ajfa-12904	327	7	.	.	PUNCT
ajfa-12904	328	1	journal	journal	NOUN
ajfa-12904	328	2	of	of	ADP
ajfa-12904	328	3	accounting	accounting	NOUN
ajfa-12904	328	4	research	research	NOUN
ajfa-12904	328	5	,	,	PUNCT
ajfa-12904	328	6	26	26	NUM
ajfa-12904	328	7	,	,	PUNCT
ajfa-12904	328	8	127	127	NUM
ajfa-12904	328	9	-	-	SYM
ajfa-12904	328	10	139	139	NUM
ajfa-12904	328	11	.	.	PUNCT
ajfa-12904	329	1	retrieved	retrieve	VERB
ajfa-12904	329	2	from	from	ADP
ajfa-12904	329	3	http://www.jstor.org/stable/2491184	http://www.jstor.org/stable/2491184	PROPN
ajfa-12904	329	4	tucker	tucker	PROPN
ajfa-12904	329	5	,	,	PUNCT
ajfa-12904	329	6	j.	j.	PROPN
ajfa-12904	329	7	w.	w.	PROPN
ajfa-12904	329	8	,	,	PUNCT
ajfa-12904	329	9	&	&	CCONJ
ajfa-12904	329	10	zarowin	zarowin	PROPN
ajfa-12904	329	11	,	,	PUNCT
ajfa-12904	329	12	p.	p.	NOUN
ajfa-12904	329	13	a.	a.	NOUN
ajfa-12904	330	1	(	(	PUNCT
ajfa-12904	330	2	2006	2006	NUM
ajfa-12904	330	3	)	)	PUNCT
ajfa-12904	330	4	.	.	PUNCT
ajfa-12904	331	1	does	do	AUX
ajfa-12904	331	2	income	income	NOUN
ajfa-12904	331	3	smoothing	smooth	VERB
ajfa-12904	331	4	improve	improve	VERB
ajfa-12904	331	5	earnings	earning	NOUN
ajfa-12904	331	6	informativeness	informativeness	NOUN
ajfa-12904	331	7	?	?	PUNCT
ajfa-12904	332	1	the	the	DET
ajfa-12904	332	2	accounting	accounting	NOUN
ajfa-12904	332	3	review	review	NOUN
ajfa-12904	332	4	,	,	PUNCT
ajfa-12904	332	5	81(1	81(1	NUM
ajfa-12904	332	6	)	)	PUNCT
ajfa-12904	332	7	,	,	PUNCT
ajfa-12904	332	8	251	251	NUM
ajfa-12904	332	9	-	-	SYM
ajfa-12904	332	10	270	270	NUM
ajfa-12904	332	11	.	.	PUNCT
ajfa-12904	332	12	retrieved	retrieve	VERB
ajfa-12904	332	13	from	from	ADP
ajfa-12904	332	14	https://doi.org/10.2308/accr.2006.81.1.251	https://doi.org/10.2308/accr.2006.81.1.251	PROPN
ajfa-12904	332	15	asian	asian	ADJ
ajfa-12904	332	16	journal	journal	NOUN
ajfa-12904	332	17	of	of	ADP
ajfa-12904	332	18	finance	finance	PROPN
ajfa-12904	332	19	&	&	CCONJ
ajfa-12904	332	20	accounting	accounting	PROPN
ajfa-12904	332	21	issn	issn	PROPN
ajfa-12904	332	22	1946	1946	NUM
ajfa-12904	332	23	-	-	PUNCT
ajfa-12904	332	24	052x	052x	NOUN
ajfa-12904	332	25	2018	2018	NUM
ajfa-12904	332	26	,	,	PUNCT
ajfa-12904	332	27	vol	vol	NOUN
ajfa-12904	332	28	.	.	PROPN
ajfa-12904	332	29	10	10	NUM
ajfa-12904	332	30	,	,	PUNCT
ajfa-12904	332	31	no	no	INTJ
ajfa-12904	332	32	.	.	NOUN
ajfa-12904	332	33	1	1	NUM
ajfa-12904	332	34	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-12904	332	35	177	177	NUM
ajfa-12904	332	36	appendix	appendix	NOUN
ajfa-12904	332	37	a	a	DET
ajfa-12904	332	38	definition	definition	NOUN
ajfa-12904	332	39	of	of	ADP
ajfa-12904	332	40	variables	variable	NOUN
ajfa-12904	332	41	variable	variable	ADJ
ajfa-12904	332	42	definition	definition	NOUN
ajfa-12904	332	43	z	z	NOUN
ajfa-12904	332	44	”	"	PUNCT
ajfa-12904	332	45	score	score	NOUN
ajfa-12904	332	46	z	z	NOUN
ajfa-12904	332	47	”	"	PUNCT
ajfa-12904	332	48	score	score	NOUN
ajfa-12904	332	49	=	=	NOUN
ajfa-12904	332	50	6.56*x1	6.56*x1	NOUN
ajfa-12904	332	51	+	+	CCONJ
ajfa-12904	332	52	3.26*x2	3.26*x2	NUM
ajfa-12904	332	53	+	+	CCONJ
ajfa-12904	332	54	6.72	6.72	NUM
ajfa-12904	332	55	*	*	PUNCT
ajfa-12904	332	56	x3	x3	ADJ
ajfa-12904	332	57	+	+	CCONJ
ajfa-12904	333	1	1.05	1.05	NUM
ajfa-12904	333	2	*	*	PUNCT
ajfa-12904	333	3	x4	x4	PROPN
ajfa-12904	333	4	where	where	SCONJ
ajfa-12904	333	5	:	:	PUNCT
ajfa-12904	333	6	x1	x1	PROPN
ajfa-12904	333	7	is	be	AUX
ajfa-12904	333	8	working	work	VERB
ajfa-12904	333	9	capital	capital	NOUN
ajfa-12904	333	10	scaled	scale	VERB
ajfa-12904	333	11	by	by	ADP
ajfa-12904	333	12	total	total	ADJ
ajfa-12904	333	13	assets	asset	NOUN
ajfa-12904	333	14	x2	x2	PRON
ajfa-12904	333	15	is	be	AUX
ajfa-12904	333	16	retained	retain	VERB
ajfa-12904	333	17	profit	profit	NOUN
ajfa-12904	333	18	scaled	scale	VERB
ajfa-12904	333	19	by	by	ADP
ajfa-12904	333	20	total	total	ADJ
ajfa-12904	333	21	assets	asset	NOUN
ajfa-12904	333	22	x3	x3	ADJ
ajfa-12904	333	23	is	be	AUX
ajfa-12904	333	24	ebit	ebit	NOUN
ajfa-12904	333	25	scaled	scale	VERB
ajfa-12904	333	26	by	by	ADP
ajfa-12904	333	27	total	total	ADJ
ajfa-12904	333	28	assets	asset	NOUN
ajfa-12904	333	29	x4	x4	PROPN
ajfa-12904	333	30	is	be	AUX
ajfa-12904	333	31	shareholders	shareholder	NOUN
ajfa-12904	333	32	’	'	PUNCT
ajfa-12904	333	33	equity	equity	NOUN
ajfa-12904	333	34	scaled	scale	VERB
ajfa-12904	333	35	by	by	ADP
ajfa-12904	333	36	total	total	ADJ
ajfa-12904	333	37	assets	asset	NOUN
ajfa-12904	333	38	smooth	smooth	ADJ
ajfa-12904	333	39	smooth	smooth	ADJ
ajfa-12904	333	40	=	=	PUNCT
ajfa-12904	333	41	std_net_income/	std_net_income/	PROPN
ajfa-12904	333	42	std_cash_flow	std_cash_flow	NOUN
ajfa-12904	333	43	where	where	SCONJ
ajfa-12904	333	44	:	:	PUNCT
ajfa-12904	333	45	std_net_income	std_net_income	NOUN
ajfa-12904	333	46	is	be	AUX
ajfa-12904	333	47	standard	standard	ADJ
ajfa-12904	333	48	deviation	deviation	NOUN
ajfa-12904	333	49	of	of	ADP
ajfa-12904	333	50	net	net	ADJ
ajfa-12904	333	51	income	income	NOUN
ajfa-12904	333	52	,	,	PUNCT
ajfa-12904	333	53	scaled	scale	VERB
ajfa-12904	333	54	by	by	ADP
ajfa-12904	333	55	lagged	lag	VERB
ajfa-12904	333	56	total	total	ADJ
ajfa-12904	333	57	assets	asset	NOUN
ajfa-12904	333	58	std_cash_flow	std_cash_flow	NOUN
ajfa-12904	333	59	is	be	AUX
ajfa-12904	333	60	standard	standard	ADJ
ajfa-12904	333	61	deviation	deviation	NOUN
ajfa-12904	333	62	of	of	ADP
ajfa-12904	333	63	cash	cash	NOUN
ajfa-12904	333	64	flow	flow	NOUN
ajfa-12904	333	65	from	from	ADP
ajfa-12904	333	66	operation	operation	NOUN
ajfa-12904	333	67	,	,	PUNCT
ajfa-12904	333	68	scaled	scale	VERB
ajfa-12904	333	69	by	by	ADP
ajfa-12904	333	70	lagged	lag	VERB
ajfa-12904	333	71	total	total	ADJ
ajfa-12904	333	72	assets	asset	NOUN
ajfa-12904	333	73	standard	standard	ADJ
ajfa-12904	333	74	deviation	deviation	NOUN
ajfa-12904	333	75	of	of	ADP
ajfa-12904	333	76	net	net	ADJ
ajfa-12904	333	77	income	income	NOUN
ajfa-12904	333	78	and	and	CCONJ
ajfa-12904	333	79	cash	cash	NOUN
ajfa-12904	333	80	flow	flow	NOUN
ajfa-12904	333	81	from	from	ADP
ajfa-12904	333	82	operation	operation	NOUN
ajfa-12904	333	83	is	be	AUX
ajfa-12904	333	84	measured	measure	VERB
ajfa-12904	333	85	using	use	VERB
ajfa-12904	333	86	3,4	3,4	NUM
ajfa-12904	333	87	and	and	CCONJ
ajfa-12904	333	88	5	5	NUM
ajfa-12904	333	89	years	year	NOUN
ajfa-12904	333	90	data	datum	NOUN
ajfa-12904	333	91	leverage	leverage	NOUN
ajfa-12904	333	92	current	current	ADJ
ajfa-12904	333	93	liabilities	liability	NOUN
ajfa-12904	333	94	divided	divide	VERB
ajfa-12904	333	95	with	with	ADP
ajfa-12904	333	96	shareholder	shareholder	NOUN
ajfa-12904	333	97	’s	’s	PART
ajfa-12904	333	98	equity	equity	NOUN
ajfa-12904	333	99	profitability	profitability	NOUN
ajfa-12904	333	100	ebitda	ebitda	NOUN
ajfa-12904	333	101	divided	divide	VERB
ajfa-12904	333	102	with	with	ADP
ajfa-12904	333	103	total	total	ADJ
ajfa-12904	333	104	assets	asset	NOUN
ajfa-12904	333	105	liquidity	liquidity	NOUN
ajfa-12904	333	106	cash	cash	NOUN
ajfa-12904	333	107	divided	divide	VERB
ajfa-12904	333	108	with	with	ADP
ajfa-12904	333	109	total	total	ADJ
ajfa-12904	333	110	assets	asset	NOUN
ajfa-12904	333	111	solvency	solvency	NOUN
ajfa-12904	333	112	current	current	ADJ
ajfa-12904	333	113	liabilities	liability	NOUN
ajfa-12904	333	114	divided	divide	VERB
ajfa-12904	333	115	with	with	ADP
ajfa-12904	333	116	inventory	inventory	NOUN
ajfa-12904	333	117	industry	industry	NOUN
ajfa-12904	333	118	fixed	fix	VERB
ajfa-12904	333	119	-	-	PUNCT
ajfa-12904	333	120	effect	effect	NOUN
ajfa-12904	333	121	two	two	NUM
ajfa-12904	333	122	digit	digit	NOUN
ajfa-12904	333	123	sic	sic	ADJ
ajfa-12904	333	124	code	code	NOUN
ajfa-12904	333	125	copyright	copyright	NOUN
ajfa-12904	333	126	disclaimer	disclaimer	NOUN
ajfa-12904	333	127	copyright	copyright	NOUN
ajfa-12904	333	128	for	for	ADP
ajfa-12904	333	129	this	this	DET
ajfa-12904	333	130	article	article	NOUN
ajfa-12904	333	131	is	be	AUX
ajfa-12904	333	132	retained	retain	VERB
ajfa-12904	333	133	by	by	ADP
ajfa-12904	333	134	the	the	DET
ajfa-12904	333	135	author(s	author(s	PROPN
ajfa-12904	333	136	)	)	PUNCT
ajfa-12904	333	137	,	,	PUNCT
ajfa-12904	333	138	with	with	ADP
ajfa-12904	333	139	first	first	ADJ
ajfa-12904	333	140	publication	publication	NOUN
ajfa-12904	333	141	rights	right	NOUN
ajfa-12904	333	142	granted	grant	VERB
ajfa-12904	333	143	to	to	ADP
ajfa-12904	333	144	the	the	DET
ajfa-12904	333	145	journal	journal	NOUN
ajfa-12904	333	146	.	.	PUNCT
ajfa-12904	334	1	this	this	PRON
ajfa-12904	334	2	is	be	AUX
ajfa-12904	334	3	an	an	DET
ajfa-12904	334	4	open	open	ADJ
ajfa-12904	334	5	-	-	PUNCT
ajfa-12904	334	6	access	access	NOUN
ajfa-12904	334	7	article	article	NOUN
ajfa-12904	334	8	distributed	distribute	VERB
ajfa-12904	334	9	under	under	ADP
ajfa-12904	334	10	the	the	DET
ajfa-12904	334	11	terms	term	NOUN
ajfa-12904	334	12	and	and	CCONJ
ajfa-12904	334	13	conditions	condition	NOUN
ajfa-12904	334	14	of	of	ADP
ajfa-12904	334	15	the	the	DET
ajfa-12904	334	16	creative	creative	ADJ
ajfa-12904	334	17	commons	common	NOUN
ajfa-12904	334	18	attribution	attribution	NOUN
ajfa-12904	334	19	license	license	NOUN
ajfa-12904	334	20	(	(	PUNCT
ajfa-12904	334	21	http://creativecommons.org/licenses/by/3.0/	http://creativecommons.org/licenses/by/3.0/	PROPN
ajfa-12904	334	22	)	)	PUNCT
ajfa-12904	334	23	.	.	PUNCT