id	sid	tid	token	lemma	pos
ajfa-14920	1	1	microsoft	microsoft	PROPN
ajfa-14920	1	2	word	word	NOUN
ajfa-14920	1	3	14920	14920	NUM
ajfa-14920	1	4	-	-	SYM
ajfa-14920	1	5	54664	54664	NUM
ajfa-14920	1	6	-	-	PUNCT
ajfa-14920	1	7	1	1	NUM
ajfa-14920	1	8	-	-	PUNCT
ajfa-14920	1	9	ed	ed	NOUN
ajfa-14920	1	10	-	-	PUNCT
ajfa-14920	1	11	writer2	writer2	VERB
ajfa-14920	1	12	-	-	ADJ
ajfa-14920	1	13	new	new	ADJ
ajfa-14920	1	14	asian	asian	ADJ
ajfa-14920	1	15	journal	journal	NOUN
ajfa-14920	1	16	of	of	ADP
ajfa-14920	1	17	finance	finance	PROPN
ajfa-14920	1	18	&	&	CCONJ
ajfa-14920	1	19	accounting	accounting	PROPN
ajfa-14920	1	20	issn	issn	PROPN
ajfa-14920	1	21	1946	1946	NUM
ajfa-14920	1	22	-	-	PUNCT
ajfa-14920	1	23	052x	052x	PROPN
ajfa-14920	1	24	2019	2019	NUM
ajfa-14920	1	25	,	,	PUNCT
ajfa-14920	1	26	vol	vol	NOUN
ajfa-14920	1	27	.	.	PROPN
ajfa-14920	1	28	11	11	NUM
ajfa-14920	1	29	,	,	PUNCT
ajfa-14920	1	30	no	no	INTJ
ajfa-14920	1	31	.	.	NOUN
ajfa-14920	1	32	2	2	NUM
ajfa-14920	1	33	ajfa.macrothink.org/	ajfa.macrothink.org/	NOUN
ajfa-14920	1	34	236	236	NUM
ajfa-14920	1	35	financial	financial	ADJ
ajfa-14920	1	36	mismatch	mismatch	NOUN
ajfa-14920	1	37	,	,	PUNCT
ajfa-14920	1	38	assets	asset	NOUN
ajfa-14920	1	39	specificity	specificity	NOUN
ajfa-14920	1	40	and	and	CCONJ
ajfa-14920	1	41	capital	capital	NOUN
ajfa-14920	1	42	structure	structure	NOUN
ajfa-14920	1	43	yanwu	yanwu	NOUN
ajfa-14920	1	44	li	li	PROPN
ajfa-14920	1	45	(	(	PUNCT
ajfa-14920	1	46	corresponding	correspond	VERB
ajfa-14920	1	47	author	author	NOUN
ajfa-14920	1	48	)	)	PUNCT
ajfa-14920	1	49	shu	shu	PROPN
ajfa-14920	1	50	-	-	PUNCT
ajfa-14920	1	51	uts	uts	PROPN
ajfa-14920	1	52	silc	silc	PROPN
ajfa-14920	1	53	business	business	PROPN
ajfa-14920	1	54	school	school	PROPN
ajfa-14920	1	55	,	,	PUNCT
ajfa-14920	1	56	shanghai	shanghai	PROPN
ajfa-14920	1	57	university	university	PROPN
ajfa-14920	1	58	20	20	NUM
ajfa-14920	1	59	chengzhong	chengzhong	PROPN
ajfa-14920	1	60	road	road	NOUN
ajfa-14920	1	61	,	,	PUNCT
ajfa-14920	1	62	jiading	jiade	VERB
ajfa-14920	1	63	district	district	NOUN
ajfa-14920	1	64	,	,	PUNCT
ajfa-14920	1	65	shanghai	shanghai	PROPN
ajfa-14920	1	66	201899	201899	NUM
ajfa-14920	1	67	,	,	PUNCT
ajfa-14920	1	68	china	china	PROPN
ajfa-14920	1	69	e	e	PROPN
ajfa-14920	1	70	-	-	NOUN
ajfa-14920	1	71	mail	mail	NOUN
ajfa-14920	1	72	,	,	PUNCT
ajfa-14920	1	73	617445625@qq.com	617445625@qq.com	NUM
ajfa-14920	1	74	received	receive	VERB
ajfa-14920	1	75	,	,	PUNCT
ajfa-14920	1	76	august	august	PROPN
ajfa-14920	1	77	5	5	NUM
ajfa-14920	1	78	,	,	PUNCT
ajfa-14920	1	79	2019	2019	NUM
ajfa-14920	1	80	accepted	accept	VERB
ajfa-14920	1	81	,	,	PUNCT
ajfa-14920	1	82	sep	sep	PROPN
ajfa-14920	1	83	21	21	NUM
ajfa-14920	1	84	,	,	PUNCT
ajfa-14920	1	85	2019	2019	NUM
ajfa-14920	1	86	published	publish	VERB
ajfa-14920	1	87	,	,	PUNCT
ajfa-14920	1	88	december	december	PROPN
ajfa-14920	1	89	1	1	NUM
ajfa-14920	1	90	,	,	PUNCT
ajfa-14920	1	91	2019	2019	NUM
ajfa-14920	1	92	doi,10.5296	doi,10.5296	NOUN
ajfa-14920	1	93	/	/	SYM
ajfa-14920	1	94	ajfa.v11i2.14920	ajfa.v11i2.14920	NOUN
ajfa-14920	1	95	url	url	NOUN
ajfa-14920	1	96	,	,	PUNCT
ajfa-14920	1	97	https,//doi.org/10.5296	https,//doi.org/10.5296	NOUN
ajfa-14920	1	98	/	/	SYM
ajfa-14920	1	99	ajfa.v11i2.14920	ajfa.v11i2.14920	NOUN
ajfa-14920	1	100	abstract	abstract	NOUN
ajfa-14920	1	101	at	at	ADP
ajfa-14920	1	102	present	present	ADJ
ajfa-14920	1	103	,	,	PUNCT
ajfa-14920	1	104	the	the	DET
ajfa-14920	1	105	problem	problem	NOUN
ajfa-14920	1	106	of	of	ADP
ajfa-14920	1	107	financial	financial	ADJ
ajfa-14920	1	108	mismatch	mismatch	NOUN
ajfa-14920	1	109	poses	pose	VERB
ajfa-14920	1	110	great	great	ADJ
ajfa-14920	1	111	challenge	challenge	NOUN
ajfa-14920	1	112	to	to	ADP
ajfa-14920	1	113	china	china	PROPN
ajfa-14920	1	114	’s	’s	PART
ajfa-14920	1	115	financial	financial	ADJ
ajfa-14920	1	116	market	market	NOUN
ajfa-14920	1	117	.	.	PUNCT
ajfa-14920	2	1	financial	financial	ADJ
ajfa-14920	2	2	mismatch	mismatch	NOUN
ajfa-14920	2	3	blurs	blur	VERB
ajfa-14920	2	4	the	the	DET
ajfa-14920	2	5	market	market	NOUN
ajfa-14920	2	6	governance	governance	NOUN
ajfa-14920	2	7	structure	structure	NOUN
ajfa-14920	2	8	of	of	ADP
ajfa-14920	2	9	debt	debt	NOUN
ajfa-14920	2	10	financing	financing	NOUN
ajfa-14920	2	11	,	,	PUNCT
ajfa-14920	2	12	thus	thus	ADV
ajfa-14920	2	13	distorting	distort	VERB
ajfa-14920	2	14	the	the	DET
ajfa-14920	2	15	relationship	relationship	NOUN
ajfa-14920	2	16	between	between	ADP
ajfa-14920	2	17	asset	asset	NOUN
ajfa-14920	2	18	specificity	specificity	NOUN
ajfa-14920	2	19	and	and	CCONJ
ajfa-14920	2	20	capital	capital	NOUN
ajfa-14920	2	21	structure	structure	NOUN
ajfa-14920	2	22	.	.	PUNCT
ajfa-14920	3	1	this	this	DET
ajfa-14920	3	2	paper	paper	NOUN
ajfa-14920	3	3	investigates	investigate	VERB
ajfa-14920	3	4	companies	company	NOUN
ajfa-14920	3	5	listed	list	VERB
ajfa-14920	3	6	on	on	ADP
ajfa-14920	3	7	the	the	DET
ajfa-14920	3	8	a	a	DET
ajfa-14920	3	9	-	-	PUNCT
ajfa-14920	3	10	share	share	NOUN
ajfa-14920	3	11	of	of	ADP
ajfa-14920	3	12	shanghai	shanghai	PROPN
ajfa-14920	3	13	and	and	CCONJ
ajfa-14920	3	14	shenzhen	shenzhen	PROPN
ajfa-14920	3	15	stock	stock	PROPN
ajfa-14920	3	16	exchange	exchange	PROPN
ajfa-14920	3	17	from	from	ADP
ajfa-14920	3	18	2012	2012	NUM
ajfa-14920	3	19	to	to	ADP
ajfa-14920	3	20	2017	2017	NUM
ajfa-14920	3	21	.	.	PUNCT
ajfa-14920	4	1	it	it	PRON
ajfa-14920	4	2	tests	test	VERB
ajfa-14920	4	3	the	the	DET
ajfa-14920	4	4	existence	existence	NOUN
ajfa-14920	4	5	of	of	ADP
ajfa-14920	4	6	financial	financial	ADJ
ajfa-14920	4	7	mismatch	mismatch	NOUN
ajfa-14920	4	8	and	and	CCONJ
ajfa-14920	4	9	the	the	DET
ajfa-14920	4	10	impact	impact	NOUN
ajfa-14920	4	11	of	of	ADP
ajfa-14920	4	12	financial	financial	ADJ
ajfa-14920	4	13	mismatch	mismatch	NOUN
ajfa-14920	4	14	on	on	ADP
ajfa-14920	4	15	asset	asset	NOUN
ajfa-14920	4	16	specificity	specificity	NOUN
ajfa-14920	4	17	and	and	CCONJ
ajfa-14920	4	18	capital	capital	NOUN
ajfa-14920	4	19	structure	structure	NOUN
ajfa-14920	4	20	.	.	PUNCT
ajfa-14920	5	1	empirical	empirical	ADJ
ajfa-14920	5	2	results	result	NOUN
ajfa-14920	5	3	show	show	VERB
ajfa-14920	5	4	that	that	SCONJ
ajfa-14920	5	5	the	the	DET
ajfa-14920	5	6	impact	impact	NOUN
ajfa-14920	5	7	of	of	ADP
ajfa-14920	5	8	financial	financial	ADJ
ajfa-14920	5	9	mismatch	mismatch	NOUN
ajfa-14920	5	10	on	on	ADP
ajfa-14920	5	11	the	the	DET
ajfa-14920	5	12	relationship	relationship	NOUN
ajfa-14920	5	13	between	between	ADP
ajfa-14920	5	14	asset	asset	NOUN
ajfa-14920	5	15	specificity	specificity	NOUN
ajfa-14920	5	16	and	and	CCONJ
ajfa-14920	5	17	capital	capital	NOUN
ajfa-14920	5	18	structure	structure	NOUN
ajfa-14920	5	19	of	of	ADP
ajfa-14920	5	20	sample	sample	NOUN
ajfa-14920	5	21	companies	company	NOUN
ajfa-14920	5	22	exhibits	exhibit	VERB
ajfa-14920	5	23	no	no	DET
ajfa-14920	5	24	differences	difference	NOUN
ajfa-14920	5	25	in	in	ADP
ajfa-14920	5	26	ownership	ownership	NOUN
ajfa-14920	5	27	.	.	PUNCT
ajfa-14920	6	1	both	both	DET
ajfa-14920	6	2	state	state	NOUN
ajfa-14920	6	3	-	-	PUNCT
ajfa-14920	6	4	owned	own	VERB
ajfa-14920	6	5	listed	list	VERB
ajfa-14920	6	6	companies	company	NOUN
ajfa-14920	6	7	and	and	CCONJ
ajfa-14920	6	8	private	private	ADJ
ajfa-14920	6	9	companies	company	NOUN
ajfa-14920	6	10	face	face	VERB
ajfa-14920	6	11	the	the	DET
ajfa-14920	6	12	same	same	ADJ
ajfa-14920	6	13	degree	degree	NOUN
ajfa-14920	6	14	of	of	ADP
ajfa-14920	6	15	financial	financial	ADJ
ajfa-14920	6	16	mismatch	mismatch	NOUN
ajfa-14920	6	17	issues	issue	NOUN
ajfa-14920	6	18	,	,	PUNCT
ajfa-14920	6	19	which	which	PRON
ajfa-14920	6	20	leads	lead	VERB
ajfa-14920	6	21	to	to	ADP
ajfa-14920	6	22	changes	change	NOUN
ajfa-14920	6	23	in	in	ADP
ajfa-14920	6	24	the	the	DET
ajfa-14920	6	25	property	property	NOUN
ajfa-14920	6	26	-	-	PUNCT
ajfa-14920	6	27	specific	specific	ADJ
ajfa-14920	6	28	governance	governance	NOUN
ajfa-14920	6	29	structure	structure	NOUN
ajfa-14920	6	30	of	of	ADP
ajfa-14920	6	31	assets	asset	NOUN
ajfa-14920	6	32	,	,	PUNCT
ajfa-14920	6	33	and	and	CCONJ
ajfa-14920	6	34	asset	asset	NOUN
ajfa-14920	6	35	specificity	specificity	NOUN
ajfa-14920	6	36	is	be	AUX
ajfa-14920	6	37	positively	positively	ADV
ajfa-14920	6	38	related	relate	VERB
ajfa-14920	6	39	to	to	ADP
ajfa-14920	6	40	capital	capital	NOUN
ajfa-14920	6	41	structure	structure	NOUN
ajfa-14920	6	42	.	.	PUNCT
ajfa-14920	7	1	keywords	keyword	NOUN
ajfa-14920	7	2	:	:	PUNCT
ajfa-14920	7	3	financial	financial	ADJ
ajfa-14920	7	4	mismatch	mismatch	NOUN
ajfa-14920	7	5	,	,	PUNCT
ajfa-14920	7	6	asset	asset	NOUN
ajfa-14920	7	7	specificity	specificity	NOUN
ajfa-14920	7	8	,	,	PUNCT
ajfa-14920	7	9	governance	governance	NOUN
ajfa-14920	7	10	structure	structure	NOUN
ajfa-14920	7	11	,	,	PUNCT
ajfa-14920	7	12	capital	capital	NOUN
ajfa-14920	7	13	structure	structure	NOUN
ajfa-14920	7	14	asian	asian	PROPN
ajfa-14920	7	15	journal	journal	PROPN
ajfa-14920	7	16	of	of	ADP
ajfa-14920	7	17	finance	finance	PROPN
ajfa-14920	7	18	&	&	CCONJ
ajfa-14920	7	19	accounting	accounting	PROPN
ajfa-14920	7	20	issn	issn	PROPN
ajfa-14920	7	21	1946	1946	NUM
ajfa-14920	7	22	-	-	PUNCT
ajfa-14920	7	23	052x	052x	PROPN
ajfa-14920	7	24	2019	2019	NUM
ajfa-14920	7	25	,	,	PUNCT
ajfa-14920	7	26	vol	vol	NOUN
ajfa-14920	7	27	.	.	PROPN
ajfa-14920	7	28	11	11	NUM
ajfa-14920	7	29	,	,	PUNCT
ajfa-14920	7	30	no	no	INTJ
ajfa-14920	7	31	.	.	NOUN
ajfa-14920	7	32	2	2	NUM
ajfa-14920	7	33	ajfa.macrothink.org/	ajfa.macrothink.org/	NOUN
ajfa-14920	7	34	237	237	NUM
ajfa-14920	7	35	introduction	introduction	NOUN
ajfa-14920	7	36	since	since	SCONJ
ajfa-14920	7	37	the	the	DET
ajfa-14920	7	38	appearance	appearance	NOUN
ajfa-14920	7	39	of	of	ADP
ajfa-14920	7	40	the	the	DET
ajfa-14920	7	41	modigliani	modigliani	PROPN
ajfa-14920	7	42	–	–	PUNCT
ajfa-14920	7	43	miller	miller	PROPN
ajfa-14920	7	44	theorem	theorem	PROPN
ajfa-14920	7	45	,	,	PUNCT
ajfa-14920	7	46	a	a	DET
ajfa-14920	7	47	great	great	ADJ
ajfa-14920	7	48	deal	deal	NOUN
ajfa-14920	7	49	of	of	ADP
ajfa-14920	7	50	literature	literature	NOUN
ajfa-14920	7	51	pertains	pertain	NOUN
ajfa-14920	7	52	on	on	ADP
ajfa-14920	7	53	the	the	DET
ajfa-14920	7	54	factors	factor	NOUN
ajfa-14920	7	55	affecting	affect	VERB
ajfa-14920	7	56	capital	capital	NOUN
ajfa-14920	7	57	structure	structure	NOUN
ajfa-14920	7	58	.	.	PUNCT
ajfa-14920	8	1	the	the	DET
ajfa-14920	8	2	characteristics	characteristic	NOUN
ajfa-14920	8	3	of	of	ADP
ajfa-14920	8	4	companies	company	NOUN
ajfa-14920	8	5	,	,	PUNCT
ajfa-14920	8	6	institutional	institutional	ADJ
ajfa-14920	8	7	factors	factor	NOUN
ajfa-14920	8	8	,	,	PUNCT
ajfa-14920	8	9	macroeconomic	macroeconomic	ADJ
ajfa-14920	8	10	factors	factor	NOUN
ajfa-14920	8	11	etc	etc	X
ajfa-14920	8	12	.	.	X
ajfa-14920	8	13	have	have	AUX
ajfa-14920	8	14	all	all	PRON
ajfa-14920	8	15	been	be	AUX
ajfa-14920	8	16	found	find	VERB
ajfa-14920	8	17	to	to	PART
ajfa-14920	8	18	have	have	VERB
ajfa-14920	8	19	an	an	DET
ajfa-14920	8	20	impact	impact	NOUN
ajfa-14920	8	21	on	on	ADP
ajfa-14920	8	22	the	the	DET
ajfa-14920	8	23	capital	capital	NOUN
ajfa-14920	8	24	structure	structure	NOUN
ajfa-14920	8	25	of	of	ADP
ajfa-14920	8	26	companies	company	NOUN
ajfa-14920	8	27	(	(	PUNCT
ajfa-14920	8	28	xiao	xiao	PROPN
ajfa-14920	8	29	,	,	PUNCT
ajfa-14920	8	30	2003	2003	NUM
ajfa-14920	8	31	;	;	PUNCT
ajfa-14920	8	32	li	li	PROPN
ajfa-14920	8	33	,	,	PUNCT
ajfa-14920	8	34	2007	2007	NUM
ajfa-14920	8	35	)	)	PUNCT
ajfa-14920	8	36	.	.	PUNCT
ajfa-14920	9	1	according	accord	VERB
ajfa-14920	9	2	to	to	ADP
ajfa-14920	9	3	transaction	transaction	NOUN
ajfa-14920	9	4	cost	cost	NOUN
ajfa-14920	9	5	economics	economic	NOUN
ajfa-14920	9	6	,	,	PUNCT
ajfa-14920	9	7	the	the	DET
ajfa-14920	9	8	key	key	ADJ
ajfa-14920	9	9	factor	factor	NOUN
ajfa-14920	9	10	in	in	ADP
ajfa-14920	9	11	determining	determine	VERB
ajfa-14920	9	12	the	the	DET
ajfa-14920	9	13	capital	capital	NOUN
ajfa-14920	9	14	structure	structure	NOUN
ajfa-14920	9	15	of	of	ADP
ajfa-14920	9	16	a	a	DET
ajfa-14920	9	17	company	company	NOUN
ajfa-14920	9	18	is	be	AUX
ajfa-14920	9	19	the	the	DET
ajfa-14920	9	20	asset	asset	NOUN
ajfa-14920	9	21	specificity	specificity	NOUN
ajfa-14920	9	22	of	of	ADP
ajfa-14920	9	23	the	the	DET
ajfa-14920	9	24	company	company	NOUN
ajfa-14920	9	25	.	.	PUNCT
ajfa-14920	10	1	asset	asset	NOUN
ajfa-14920	10	2	specificity	specificity	NOUN
ajfa-14920	10	3	refers	refer	VERB
ajfa-14920	10	4	to	to	ADP
ajfa-14920	10	5	the	the	DET
ajfa-14920	10	6	impairment	impairment	NOUN
ajfa-14920	10	7	of	of	ADP
ajfa-14920	10	8	the	the	DET
ajfa-14920	10	9	value	value	NOUN
ajfa-14920	10	10	of	of	ADP
ajfa-14920	10	11	an	an	DET
ajfa-14920	10	12	asset	asset	NOUN
ajfa-14920	10	13	caused	cause	VERB
ajfa-14920	10	14	by	by	ADP
ajfa-14920	10	15	changes	change	NOUN
ajfa-14920	10	16	in	in	ADP
ajfa-14920	10	17	the	the	DET
ajfa-14920	10	18	entity	entity	NOUN
ajfa-14920	10	19	of	of	ADP
ajfa-14920	10	20	users	user	NOUN
ajfa-14920	10	21	or	or	CCONJ
ajfa-14920	10	22	its	its	PRON
ajfa-14920	10	23	application	application	NOUN
ajfa-14920	10	24	without	without	ADP
ajfa-14920	10	25	sacrificing	sacrifice	VERB
ajfa-14920	10	26	its	its	PRON
ajfa-14920	10	27	production	production	NOUN
ajfa-14920	10	28	value	value	NOUN
ajfa-14920	10	29	.	.	PUNCT
ajfa-14920	11	1	on	on	ADP
ajfa-14920	11	2	the	the	DET
ajfa-14920	11	3	one	one	NUM
ajfa-14920	11	4	hand	hand	NOUN
ajfa-14920	11	5	,	,	PUNCT
ajfa-14920	11	6	the	the	PRON
ajfa-14920	11	7	higher	high	ADJ
ajfa-14920	11	8	the	the	DET
ajfa-14920	11	9	level	level	NOUN
ajfa-14920	11	10	of	of	ADP
ajfa-14920	11	11	corporate	corporate	ADJ
ajfa-14920	11	12	asset	asset	NOUN
ajfa-14920	11	13	specificity	specificity	NOUN
ajfa-14920	11	14	is	be	AUX
ajfa-14920	11	15	,	,	PUNCT
ajfa-14920	11	16	the	the	PRON
ajfa-14920	11	17	higher	high	ADJ
ajfa-14920	11	18	the	the	DET
ajfa-14920	11	19	risk	risk	NOUN
ajfa-14920	11	20	of	of	ADP
ajfa-14920	11	21	losing	lose	VERB
ajfa-14920	11	22	the	the	DET
ajfa-14920	11	23	realized	realize	VERB
ajfa-14920	11	24	value	value	NOUN
ajfa-14920	11	25	of	of	ADP
ajfa-14920	11	26	the	the	DET
ajfa-14920	11	27	asset	asset	NOUN
ajfa-14920	11	28	will	will	AUX
ajfa-14920	11	29	be	be	AUX
ajfa-14920	11	30	.	.	PUNCT
ajfa-14920	12	1	the	the	DET
ajfa-14920	12	2	risk	risk	NOUN
ajfa-14920	12	3	can	can	AUX
ajfa-14920	12	4	not	not	PART
ajfa-14920	12	5	be	be	AUX
ajfa-14920	12	6	fully	fully	ADV
ajfa-14920	12	7	paid	pay	VERB
ajfa-14920	12	8	back	back	ADP
ajfa-14920	12	9	so	so	SCONJ
ajfa-14920	12	10	that	that	SCONJ
ajfa-14920	12	11	creditors	creditor	NOUN
ajfa-14920	12	12	will	will	AUX
ajfa-14920	12	13	trigger	trigger	VERB
ajfa-14920	12	14	a	a	DET
ajfa-14920	12	15	reverse	reverse	ADJ
ajfa-14920	12	16	adjustment	adjustment	NOUN
ajfa-14920	12	17	in	in	ADP
ajfa-14920	12	18	debt	debt	NOUN
ajfa-14920	12	19	financing	financing	NOUN
ajfa-14920	12	20	.	.	PUNCT
ajfa-14920	13	1	on	on	ADP
ajfa-14920	13	2	the	the	DET
ajfa-14920	13	3	other	other	ADJ
ajfa-14920	13	4	hand	hand	NOUN
ajfa-14920	13	5	,	,	PUNCT
ajfa-14920	13	6	according	accord	VERB
ajfa-14920	13	7	to	to	ADP
ajfa-14920	13	8	the	the	DET
ajfa-14920	13	9	governance	governance	NOUN
ajfa-14920	13	10	structure	structure	NOUN
ajfa-14920	13	11	selection	selection	NOUN
ajfa-14920	13	12	theory	theory	NOUN
ajfa-14920	13	13	of	of	ADP
ajfa-14920	13	14	transaction	transaction	NOUN
ajfa-14920	13	15	cost	cost	NOUN
ajfa-14920	13	16	economics	economic	NOUN
ajfa-14920	13	17	,	,	PUNCT
ajfa-14920	13	18	equity	equity	NOUN
ajfa-14920	13	19	and	and	CCONJ
ajfa-14920	13	20	liabilities	liability	NOUN
ajfa-14920	13	21	are	be	AUX
ajfa-14920	13	22	assigned	assign	VERB
ajfa-14920	13	23	to	to	ADP
ajfa-14920	13	24	the	the	DET
ajfa-14920	13	25	hierarchy	hierarchy	NOUN
ajfa-14920	13	26	and	and	CCONJ
ajfa-14920	13	27	market	market	NOUN
ajfa-14920	13	28	governance	governance	NOUN
ajfa-14920	13	29	structure	structure	NOUN
ajfa-14920	13	30	attributes	attribute	VERB
ajfa-14920	13	31	,	,	PUNCT
ajfa-14920	13	32	respectively	respectively	ADV
ajfa-14920	13	33	.	.	PUNCT
ajfa-14920	14	1	with	with	ADP
ajfa-14920	14	2	the	the	DET
ajfa-14920	14	3	increase	increase	NOUN
ajfa-14920	14	4	of	of	ADP
ajfa-14920	14	5	asset	asset	NOUN
ajfa-14920	14	6	specificity	specificity	NOUN
ajfa-14920	14	7	level	level	NOUN
ajfa-14920	14	8	,	,	PUNCT
ajfa-14920	14	9	the	the	DET
ajfa-14920	14	10	application	application	NOUN
ajfa-14920	14	11	of	of	ADP
ajfa-14920	14	12	equity	equity	NOUN
ajfa-14920	14	13	financing	financing	NOUN
ajfa-14920	14	14	can	can	AUX
ajfa-14920	14	15	save	save	VERB
ajfa-14920	14	16	financing	financing	NOUN
ajfa-14920	14	17	transaction	transaction	NOUN
ajfa-14920	14	18	costs	cost	NOUN
ajfa-14920	14	19	and	and	CCONJ
ajfa-14920	14	20	results	result	NOUN
ajfa-14920	14	21	in	in	ADP
ajfa-14920	14	22	a	a	DET
ajfa-14920	14	23	greater	great	ADJ
ajfa-14920	14	24	efficiency	efficiency	NOUN
ajfa-14920	14	25	of	of	ADP
ajfa-14920	14	26	financing	financing	NOUN
ajfa-14920	14	27	transactions	transaction	NOUN
ajfa-14920	14	28	(	(	PUNCT
ajfa-14920	14	29	willison	willison	NOUN
ajfa-14920	14	30	,	,	PUNCT
ajfa-14920	14	31	1979	1979	NUM
ajfa-14920	14	32	)	)	PUNCT
ajfa-14920	14	33	.	.	PUNCT
ajfa-14920	15	1	previous	previous	ADJ
ajfa-14920	15	2	research	research	NOUN
ajfa-14920	15	3	has	have	AUX
ajfa-14920	15	4	tested	test	VERB
ajfa-14920	15	5	the	the	DET
ajfa-14920	15	6	correlation	correlation	NOUN
ajfa-14920	15	7	between	between	ADP
ajfa-14920	15	8	asset	asset	NOUN
ajfa-14920	15	9	specificity	specificity	NOUN
ajfa-14920	15	10	and	and	CCONJ
ajfa-14920	15	11	capital	capital	NOUN
ajfa-14920	15	12	structure	structure	NOUN
ajfa-14920	15	13	through	through	ADP
ajfa-14920	15	14	empirical	empirical	ADJ
ajfa-14920	15	15	methods	method	NOUN
ajfa-14920	15	16	.	.	PUNCT
ajfa-14920	16	1	however	however	ADV
ajfa-14920	16	2	,	,	PUNCT
ajfa-14920	16	3	research	research	NOUN
ajfa-14920	16	4	that	that	PRON
ajfa-14920	16	5	investigates	investigate	VERB
ajfa-14920	16	6	listed	list	VERB
ajfa-14920	16	7	companies	company	NOUN
ajfa-14920	16	8	in	in	ADP
ajfa-14920	16	9	china	china	PROPN
ajfa-14920	16	10	often	often	ADV
ajfa-14920	16	11	neglects	neglect	VERB
ajfa-14920	16	12	the	the	DET
ajfa-14920	16	13	impact	impact	NOUN
ajfa-14920	16	14	of	of	ADP
ajfa-14920	16	15	financial	financial	ADJ
ajfa-14920	16	16	mismatch	mismatch	NOUN
ajfa-14920	16	17	(	(	PUNCT
ajfa-14920	16	18	dai	dai	PROPN
ajfa-14920	16	19	and	and	CCONJ
ajfa-14920	16	20	zhang	zhang	PROPN
ajfa-14920	16	21	,	,	PUNCT
ajfa-14920	16	22	2003	2003	NUM
ajfa-14920	16	23	)	)	PUNCT
ajfa-14920	16	24	.	.	PUNCT
ajfa-14920	17	1	financial	financial	ADJ
ajfa-14920	17	2	mismatch	mismatch	NOUN
ajfa-14920	17	3	refers	refer	VERB
ajfa-14920	17	4	to	to	ADP
ajfa-14920	17	5	the	the	DET
ajfa-14920	17	6	mismatch	mismatch	NOUN
ajfa-14920	17	7	between	between	ADP
ajfa-14920	17	8	the	the	DET
ajfa-14920	17	9	allocation	allocation	NOUN
ajfa-14920	17	10	structure	structure	NOUN
ajfa-14920	17	11	and	and	CCONJ
ajfa-14920	17	12	the	the	DET
ajfa-14920	17	13	efficiency	efficiency	NOUN
ajfa-14920	17	14	of	of	ADP
ajfa-14920	17	15	financial	financial	ADJ
ajfa-14920	17	16	resources	resource	NOUN
ajfa-14920	17	17	.	.	PUNCT
ajfa-14920	18	1	as	as	ADP
ajfa-14920	18	2	a	a	DET
ajfa-14920	18	3	scarce	scarce	ADJ
ajfa-14920	18	4	resource	resource	NOUN
ajfa-14920	18	5	,	,	PUNCT
ajfa-14920	18	6	financial	financial	ADJ
ajfa-14920	18	7	resources	resource	NOUN
ajfa-14920	18	8	should	should	AUX
ajfa-14920	18	9	flow	flow	VERB
ajfa-14920	18	10	to	to	ADP
ajfa-14920	18	11	high	high	ADJ
ajfa-14920	18	12	-	-	PUNCT
ajfa-14920	18	13	efficiency	efficiency	NOUN
ajfa-14920	18	14	departments	department	NOUN
ajfa-14920	18	15	and	and	CCONJ
ajfa-14920	18	16	companies	company	NOUN
ajfa-14920	18	17	to	to	PART
ajfa-14920	18	18	ensure	ensure	VERB
ajfa-14920	18	19	the	the	DET
ajfa-14920	18	20	efficiency	efficiency	NOUN
ajfa-14920	18	21	of	of	ADP
ajfa-14920	18	22	financial	financial	ADJ
ajfa-14920	18	23	resource	resource	NOUN
ajfa-14920	18	24	allocation	allocation	NOUN
ajfa-14920	18	25	.	.	PUNCT
ajfa-14920	19	1	however	however	ADV
ajfa-14920	19	2	,	,	PUNCT
ajfa-14920	19	3	the	the	DET
ajfa-14920	19	4	allocation	allocation	NOUN
ajfa-14920	19	5	of	of	ADP
ajfa-14920	19	6	financial	financial	ADJ
ajfa-14920	19	7	resources	resource	NOUN
ajfa-14920	19	8	in	in	ADP
ajfa-14920	19	9	china	china	PROPN
ajfa-14920	19	10	exhibits	exhibit	VERB
ajfa-14920	19	11	a	a	DET
ajfa-14920	19	12	problem	problem	NOUN
ajfa-14920	19	13	of	of	ADP
ajfa-14920	19	14	inefficient	inefficient	ADJ
ajfa-14920	19	15	and	and	CCONJ
ajfa-14920	19	16	unbalanced	unbalanced	ADJ
ajfa-14920	19	17	mismatch	mismatch	NOUN
ajfa-14920	19	18	.	.	PUNCT
ajfa-14920	20	1	first	first	ADV
ajfa-14920	20	2	,	,	PUNCT
ajfa-14920	20	3	the	the	DET
ajfa-14920	20	4	capital	capital	NOUN
ajfa-14920	20	5	structure	structure	NOUN
ajfa-14920	20	6	of	of	ADP
ajfa-14920	20	7	a	a	DET
ajfa-14920	20	8	company	company	NOUN
ajfa-14920	20	9	is	be	AUX
ajfa-14920	20	10	directly	directly	ADV
ajfa-14920	20	11	affected	affect	VERB
ajfa-14920	20	12	by	by	ADP
ajfa-14920	20	13	the	the	DET
ajfa-14920	20	14	allocation	allocation	NOUN
ajfa-14920	20	15	structure	structure	NOUN
ajfa-14920	20	16	of	of	ADP
ajfa-14920	20	17	financial	financial	ADJ
ajfa-14920	20	18	resources	resource	NOUN
ajfa-14920	20	19	.	.	PUNCT
ajfa-14920	21	1	secondly	secondly	ADV
ajfa-14920	21	2	,	,	PUNCT
ajfa-14920	21	3	the	the	DET
ajfa-14920	21	4	transaction	transaction	NOUN
ajfa-14920	21	5	cost	cost	VERB
ajfa-14920	21	6	economics	economic	NOUN
ajfa-14920	21	7	is	be	AUX
ajfa-14920	21	8	based	base	VERB
ajfa-14920	21	9	on	on	ADP
ajfa-14920	21	10	the	the	DET
ajfa-14920	21	11	historical	historical	ADJ
ajfa-14920	21	12	market	market	NOUN
ajfa-14920	21	13	experience	experience	NOUN
ajfa-14920	21	14	,	,	PUNCT
ajfa-14920	21	15	while	while	SCONJ
ajfa-14920	21	16	the	the	DET
ajfa-14920	21	17	financial	financial	ADJ
ajfa-14920	21	18	mismatch	mismatch	NOUN
ajfa-14920	21	19	as	as	ADP
ajfa-14920	21	20	a	a	DET
ajfa-14920	21	21	non	non	ADJ
ajfa-14920	21	22	-	-	ADJ
ajfa-14920	21	23	marketization	marketization	ADJ
ajfa-14920	21	24	behavior	behavior	NOUN
ajfa-14920	21	25	eases	ease	VERB
ajfa-14920	21	26	the	the	DET
ajfa-14920	21	27	assumptions	assumption	NOUN
ajfa-14920	21	28	of	of	ADP
ajfa-14920	21	29	transaction	transaction	NOUN
ajfa-14920	21	30	cost	cost	NOUN
ajfa-14920	21	31	economics	economic	NOUN
ajfa-14920	21	32	,	,	PUNCT
ajfa-14920	21	33	restricting	restrict	VERB
ajfa-14920	21	34	and	and	CCONJ
ajfa-14920	21	35	distorting	distort	VERB
ajfa-14920	21	36	the	the	DET
ajfa-14920	21	37	governance	governance	NOUN
ajfa-14920	21	38	ability	ability	NOUN
ajfa-14920	21	39	of	of	ADP
ajfa-14920	21	40	debt	debt	NOUN
ajfa-14920	21	41	financing	financing	NOUN
ajfa-14920	21	42	in	in	ADP
ajfa-14920	21	43	financing	financing	NOUN
ajfa-14920	21	44	contracts	contract	NOUN
ajfa-14920	21	45	.	.	PUNCT
ajfa-14920	22	1	hence	hence	ADV
ajfa-14920	22	2	,	,	PUNCT
ajfa-14920	22	3	it	it	PRON
ajfa-14920	22	4	breaks	break	VERB
ajfa-14920	22	5	the	the	DET
ajfa-14920	22	6	bond	bond	NOUN
ajfa-14920	22	7	between	between	ADP
ajfa-14920	22	8	asset	asset	NOUN
ajfa-14920	22	9	specificity	specificity	NOUN
ajfa-14920	22	10	and	and	CCONJ
ajfa-14920	22	11	capital	capital	NOUN
ajfa-14920	22	12	structure	structure	NOUN
ajfa-14920	22	13	,	,	PUNCT
ajfa-14920	22	14	and	and	CCONJ
ajfa-14920	22	15	causes	cause	VERB
ajfa-14920	22	16	an	an	DET
ajfa-14920	22	17	impact	impact	NOUN
ajfa-14920	22	18	on	on	ADP
ajfa-14920	22	19	the	the	DET
ajfa-14920	22	20	relationship	relationship	NOUN
ajfa-14920	22	21	between	between	ADP
ajfa-14920	22	22	the	the	DET
ajfa-14920	22	23	two	two	NUM
ajfa-14920	22	24	.	.	PUNCT
ajfa-14920	23	1	this	this	DET
ajfa-14920	23	2	paper	paper	NOUN
ajfa-14920	23	3	focuses	focus	VERB
ajfa-14920	23	4	on	on	ADP
ajfa-14920	23	5	the	the	DET
ajfa-14920	23	6	impact	impact	NOUN
ajfa-14920	23	7	of	of	ADP
ajfa-14920	23	8	finance	finance	NOUN
ajfa-14920	23	9	mismatch	mismatch	NOUN
ajfa-14920	23	10	on	on	ADP
ajfa-14920	23	11	the	the	DET
ajfa-14920	23	12	asset	asset	NOUN
ajfa-14920	23	13	specificity	specificity	NOUN
ajfa-14920	23	14	and	and	CCONJ
ajfa-14920	23	15	capital	capital	NOUN
ajfa-14920	23	16	structure	structure	NOUN
ajfa-14920	23	17	.	.	PUNCT
ajfa-14920	24	1	and	and	CCONJ
ajfa-14920	24	2	test	test	VERB
ajfa-14920	24	3	if	if	SCONJ
ajfa-14920	24	4	the	the	DET
ajfa-14920	24	5	phenomenon	phenomenon	NOUN
ajfa-14920	24	6	of	of	ADP
ajfa-14920	24	7	finance	finance	NOUN
ajfa-14920	24	8	mismatch	mismatch	NOUN
ajfa-14920	24	9	widely	widely	ADV
ajfa-14920	24	10	exists	exist	VERB
ajfa-14920	24	11	in	in	ADP
ajfa-14920	24	12	listed	list	VERB
ajfa-14920	24	13	companies	company	NOUN
ajfa-14920	24	14	of	of	ADP
ajfa-14920	24	15	china	china	PROPN
ajfa-14920	24	16	and	and	CCONJ
ajfa-14920	24	17	if	if	SCONJ
ajfa-14920	24	18	this	this	DET
ajfa-14920	24	19	existence	existence	NOUN
ajfa-14920	24	20	and	and	CCONJ
ajfa-14920	24	21	its	its	PRON
ajfa-14920	24	22	impacts	impact	NOUN
ajfa-14920	24	23	differentiate	differentiate	VERB
ajfa-14920	24	24	because	because	SCONJ
ajfa-14920	24	25	of	of	ADP
ajfa-14920	24	26	the	the	DET
ajfa-14920	24	27	ownership	ownership	NOUN
ajfa-14920	24	28	of	of	ADP
ajfa-14920	24	29	companies	company	NOUN
ajfa-14920	24	30	.	.	PUNCT
ajfa-14920	25	1	moreover	moreover	ADV
ajfa-14920	25	2	,	,	PUNCT
ajfa-14920	25	3	this	this	DET
ajfa-14920	25	4	paper	paper	NOUN
ajfa-14920	25	5	proposes	propose	VERB
ajfa-14920	25	6	regressions	regression	NOUN
ajfa-14920	25	7	to	to	PART
ajfa-14920	25	8	determine	determine	VERB
ajfa-14920	25	9	if	if	SCONJ
ajfa-14920	25	10	the	the	DET
ajfa-14920	25	11	effect	effect	NOUN
ajfa-14920	25	12	of	of	ADP
ajfa-14920	25	13	asset	asset	NOUN
ajfa-14920	25	14	specificity	specificity	NOUN
ajfa-14920	25	15	on	on	ADP
ajfa-14920	25	16	the	the	DET
ajfa-14920	25	17	capital	capital	NOUN
ajfa-14920	25	18	structure	structure	NOUN
ajfa-14920	25	19	works	work	VERB
ajfa-14920	25	20	under	under	ADP
ajfa-14920	25	21	the	the	DET
ajfa-14920	25	22	situation	situation	NOUN
ajfa-14920	25	23	that	that	PRON
ajfa-14920	25	24	finance	finance	NOUN
ajfa-14920	25	25	mismatch	mismatch	NOUN
ajfa-14920	25	26	issue	issue	NOUN
ajfa-14920	25	27	exists	exist	VERB
ajfa-14920	25	28	.	.	PUNCT
ajfa-14920	26	1	contributing	contribute	VERB
ajfa-14920	26	2	to	to	ADP
ajfa-14920	26	3	relevant	relevant	ADJ
ajfa-14920	26	4	theories	theory	NOUN
ajfa-14920	26	5	of	of	ADP
ajfa-14920	26	6	transaction	transaction	NOUN
ajfa-14920	26	7	cost	cost	NOUN
ajfa-14920	26	8	economics	economic	NOUN
ajfa-14920	26	9	,	,	PUNCT
ajfa-14920	26	10	this	this	DET
ajfa-14920	26	11	paper	paper	NOUN
ajfa-14920	26	12	attempts	attempt	VERB
ajfa-14920	26	13	to	to	PART
ajfa-14920	26	14	investigate	investigate	VERB
ajfa-14920	26	15	the	the	DET
ajfa-14920	26	16	correlation	correlation	NOUN
ajfa-14920	26	17	between	between	ADP
ajfa-14920	26	18	asset	asset	NOUN
ajfa-14920	26	19	specificity	specificity	NOUN
ajfa-14920	26	20	and	and	CCONJ
ajfa-14920	26	21	capital	capital	NOUN
ajfa-14920	26	22	structure	structure	NOUN
ajfa-14920	26	23	under	under	ADP
ajfa-14920	26	24	the	the	DET
ajfa-14920	26	25	existing	exist	VERB
ajfa-14920	26	26	financial	financial	ADJ
ajfa-14920	26	27	mismatch	mismatch	NOUN
ajfa-14920	26	28	issue	issue	NOUN
ajfa-14920	26	29	in	in	ADP
ajfa-14920	26	30	china	china	PROPN
ajfa-14920	26	31	.	.	PUNCT
ajfa-14920	27	1	first	first	ADV
ajfa-14920	27	2	,	,	PUNCT
ajfa-14920	27	3	this	this	DET
ajfa-14920	27	4	paper	paper	NOUN
ajfa-14920	27	5	constructs	construct	VERB
ajfa-14920	27	6	a	a	DET
ajfa-14920	27	7	theoretical	theoretical	ADJ
ajfa-14920	27	8	framework	framework	NOUN
ajfa-14920	27	9	and	and	CCONJ
ajfa-14920	27	10	reexamines	reexamine	VERB
ajfa-14920	27	11	the	the	DET
ajfa-14920	27	12	relationship	relationship	NOUN
ajfa-14920	27	13	between	between	ADP
ajfa-14920	27	14	asset	asset	NOUN
ajfa-14920	27	15	specificity	specificity	NOUN
ajfa-14920	27	16	and	and	CCONJ
ajfa-14920	27	17	capital	capital	NOUN
ajfa-14920	27	18	structure	structure	NOUN
ajfa-14920	27	19	from	from	ADP
ajfa-14920	27	20	the	the	DET
ajfa-14920	27	21	impact	impact	NOUN
ajfa-14920	27	22	of	of	ADP
ajfa-14920	27	23	financial	financial	ADJ
ajfa-14920	27	24	mismatch	mismatch	NOUN
ajfa-14920	27	25	on	on	ADP
ajfa-14920	27	26	debt	debt	NOUN
ajfa-14920	27	27	financing	financing	NOUN
ajfa-14920	27	28	governance	governance	NOUN
ajfa-14920	27	29	structure	structure	NOUN
ajfa-14920	27	30	.	.	PUNCT
ajfa-14920	28	1	it	it	PRON
ajfa-14920	28	2	takes	take	VERB
ajfa-14920	28	3	into	into	ADP
ajfa-14920	28	4	account	account	NOUN
ajfa-14920	28	5	of	of	ADP
ajfa-14920	28	6	the	the	DET
ajfa-14920	28	7	economic	economic	ADJ
ajfa-14920	28	8	reality	reality	NOUN
ajfa-14920	28	9	and	and	CCONJ
ajfa-14920	28	10	institutional	institutional	ADJ
ajfa-14920	28	11	background	background	NOUN
ajfa-14920	28	12	of	of	ADP
ajfa-14920	28	13	china	china	PROPN
ajfa-14920	28	14	and	and	CCONJ
ajfa-14920	28	15	fills	fill	VERB
ajfa-14920	28	16	in	in	ADP
ajfa-14920	28	17	the	the	DET
ajfa-14920	28	18	void	void	NOUN
ajfa-14920	28	19	of	of	ADP
ajfa-14920	28	20	existing	exist	VERB
ajfa-14920	28	21	research	research	NOUN
ajfa-14920	28	22	in	in	ADP
ajfa-14920	28	23	this	this	DET
ajfa-14920	28	24	area	area	NOUN
ajfa-14920	28	25	.	.	PUNCT
ajfa-14920	29	1	secondly	secondly	ADV
ajfa-14920	29	2	,	,	PUNCT
ajfa-14920	29	3	by	by	ADP
ajfa-14920	29	4	evaluating	evaluate	VERB
ajfa-14920	29	5	the	the	DET
ajfa-14920	29	6	economic	economic	ADJ
ajfa-14920	29	7	consequences	consequence	NOUN
ajfa-14920	29	8	of	of	ADP
ajfa-14920	29	9	financial	financial	ADJ
ajfa-14920	29	10	mismatch	mismatch	NOUN
ajfa-14920	29	11	and	and	CCONJ
ajfa-14920	29	12	its	its	PRON
ajfa-14920	29	13	impact	impact	NOUN
ajfa-14920	29	14	on	on	ADP
ajfa-14920	29	15	the	the	DET
ajfa-14920	29	16	relationship	relationship	NOUN
ajfa-14920	29	17	between	between	ADP
ajfa-14920	29	18	asset	asset	NOUN
ajfa-14920	29	19	specificity	specificity	NOUN
ajfa-14920	29	20	and	and	CCONJ
ajfa-14920	29	21	capital	capital	NOUN
ajfa-14920	29	22	structure	structure	NOUN
ajfa-14920	29	23	,	,	PUNCT
ajfa-14920	29	24	this	this	DET
ajfa-14920	29	25	paper	paper	NOUN
ajfa-14920	29	26	provides	provide	VERB
ajfa-14920	29	27	asian	asian	ADJ
ajfa-14920	29	28	journal	journal	NOUN
ajfa-14920	29	29	of	of	ADP
ajfa-14920	29	30	finance	finance	PROPN
ajfa-14920	29	31	&	&	CCONJ
ajfa-14920	29	32	accounting	accounting	PROPN
ajfa-14920	29	33	issn	issn	PROPN
ajfa-14920	29	34	1946	1946	NUM
ajfa-14920	29	35	-	-	PUNCT
ajfa-14920	29	36	052x	052x	PROPN
ajfa-14920	29	37	2019	2019	NUM
ajfa-14920	29	38	,	,	PUNCT
ajfa-14920	29	39	vol	vol	NOUN
ajfa-14920	29	40	.	.	PROPN
ajfa-14920	30	1	11	11	NUM
ajfa-14920	30	2	,	,	PUNCT
ajfa-14920	30	3	no	no	INTJ
ajfa-14920	30	4	.	.	NOUN
ajfa-14920	30	5	2	2	NUM
ajfa-14920	30	6	ajfa.macrothink.org/	ajfa.macrothink.org/	NOUN
ajfa-14920	30	7	238	238	NUM
ajfa-14920	30	8	empirical	empirical	ADJ
ajfa-14920	30	9	evidence	evidence	NOUN
ajfa-14920	30	10	on	on	ADP
ajfa-14920	30	11	how	how	SCONJ
ajfa-14920	30	12	to	to	PART
ajfa-14920	30	13	ease	ease	VERB
ajfa-14920	30	14	financial	financial	ADJ
ajfa-14920	30	15	mismatch	mismatch	NOUN
ajfa-14920	30	16	,	,	PUNCT
ajfa-14920	30	17	how	how	SCONJ
ajfa-14920	30	18	to	to	PART
ajfa-14920	30	19	improve	improve	VERB
ajfa-14920	30	20	the	the	DET
ajfa-14920	30	21	efficiency	efficiency	NOUN
ajfa-14920	30	22	of	of	ADP
ajfa-14920	30	23	financial	financial	ADJ
ajfa-14920	30	24	resource	resource	NOUN
ajfa-14920	30	25	allocation	allocation	NOUN
ajfa-14920	30	26	,	,	PUNCT
ajfa-14920	30	27	and	and	CCONJ
ajfa-14920	30	28	how	how	SCONJ
ajfa-14920	30	29	to	to	PART
ajfa-14920	30	30	improve	improve	VERB
ajfa-14920	30	31	the	the	DET
ajfa-14920	30	32	financial	financial	ADJ
ajfa-14920	30	33	market	market	NOUN
ajfa-14920	30	34	of	of	ADP
ajfa-14920	30	35	china	china	PROPN
ajfa-14920	30	36	.	.	PUNCT
ajfa-14920	31	1	the	the	DET
ajfa-14920	31	2	remaining	remain	VERB
ajfa-14920	31	3	part	part	NOUN
ajfa-14920	31	4	of	of	ADP
ajfa-14920	31	5	this	this	DET
ajfa-14920	31	6	paper	paper	NOUN
ajfa-14920	31	7	is	be	AUX
ajfa-14920	31	8	organized	organize	VERB
ajfa-14920	31	9	as	as	SCONJ
ajfa-14920	31	10	follows	follow	VERB
ajfa-14920	31	11	.	.	PUNCT
ajfa-14920	32	1	section	section	NOUN
ajfa-14920	32	2	2	2	NUM
ajfa-14920	32	3	reviews	review	NOUN
ajfa-14920	32	4	related	relate	VERB
ajfa-14920	32	5	literature	literature	NOUN
ajfa-14920	32	6	.	.	PUNCT
ajfa-14920	33	1	section	section	NOUN
ajfa-14920	33	2	3	3	NUM
ajfa-14920	33	3	is	be	AUX
ajfa-14920	33	4	devoted	devote	VERB
ajfa-14920	33	5	to	to	ADP
ajfa-14920	33	6	theoretical	theoretical	ADJ
ajfa-14920	33	7	analysis	analysis	NOUN
ajfa-14920	33	8	,	,	PUNCT
ajfa-14920	33	9	hypothesis	hypothesis	NOUN
ajfa-14920	33	10	development	development	NOUN
ajfa-14920	33	11	and	and	CCONJ
ajfa-14920	33	12	introduces	introduce	VERB
ajfa-14920	33	13	the	the	DET
ajfa-14920	33	14	data	datum	NOUN
ajfa-14920	33	15	.	.	PUNCT
ajfa-14920	34	1	section	section	NOUN
ajfa-14920	34	2	4	4	NUM
ajfa-14920	34	3	presents	present	VERB
ajfa-14920	34	4	the	the	DET
ajfa-14920	34	5	empirical	empirical	ADJ
ajfa-14920	34	6	analysis	analysis	NOUN
ajfa-14920	34	7	.	.	PUNCT
ajfa-14920	35	1	section	section	NOUN
ajfa-14920	35	2	5	5	NUM
ajfa-14920	35	3	concludes	conclude	VERB
ajfa-14920	35	4	and	and	CCONJ
ajfa-14920	35	5	proposes	propose	VERB
ajfa-14920	35	6	policy	policy	NOUN
ajfa-14920	35	7	implications	implication	NOUN
ajfa-14920	35	8	.	.	PUNCT
ajfa-14920	36	1	related	relate	VERB
ajfa-14920	36	2	literature	literature	NOUN
ajfa-14920	36	3	2.1	2.1	NUM
ajfa-14920	36	4	financial	financial	ADJ
ajfa-14920	36	5	mismatch	mismatch	NOUN
ajfa-14920	36	6	the	the	DET
ajfa-14920	36	7	concept	concept	NOUN
ajfa-14920	36	8	of	of	ADP
ajfa-14920	36	9	financial	financial	ADJ
ajfa-14920	36	10	mismatch	mismatch	NOUN
ajfa-14920	36	11	arises	arise	VERB
ajfa-14920	36	12	from	from	ADP
ajfa-14920	36	13	the	the	DET
ajfa-14920	36	14	theory	theory	NOUN
ajfa-14920	36	15	of	of	ADP
ajfa-14920	36	16	resource	resource	NOUN
ajfa-14920	36	17	allocation	allocation	NOUN
ajfa-14920	36	18	efficiency	efficiency	NOUN
ajfa-14920	36	19	.	.	PUNCT
ajfa-14920	37	1	samuelson	samuelson	PROPN
ajfa-14920	37	2	(	(	PUNCT
ajfa-14920	37	3	2005	2005	NUM
ajfa-14920	37	4	)	)	PUNCT
ajfa-14920	37	5	pointed	point	VERB
ajfa-14920	37	6	out	out	ADP
ajfa-14920	37	7	that	that	SCONJ
ajfa-14920	37	8	the	the	DET
ajfa-14920	37	9	scarcity	scarcity	NOUN
ajfa-14920	37	10	of	of	ADP
ajfa-14920	37	11	resources	resource	NOUN
ajfa-14920	37	12	is	be	AUX
ajfa-14920	37	13	what	what	PRON
ajfa-14920	37	14	economics	economic	NOUN
ajfa-14920	37	15	is	be	AUX
ajfa-14920	37	16	for	for	ADP
ajfa-14920	37	17	.	.	PUNCT
ajfa-14920	38	1	the	the	DET
ajfa-14920	38	2	scarcity	scarcity	NOUN
ajfa-14920	38	3	of	of	ADP
ajfa-14920	38	4	resources	resource	NOUN
ajfa-14920	38	5	and	and	CCONJ
ajfa-14920	38	6	the	the	DET
ajfa-14920	38	7	infinite	infinite	ADJ
ajfa-14920	38	8	demand	demand	NOUN
ajfa-14920	38	9	of	of	ADP
ajfa-14920	38	10	people	people	NOUN
ajfa-14920	38	11	create	create	VERB
ajfa-14920	38	12	resource	resource	NOUN
ajfa-14920	38	13	allocation	allocation	NOUN
ajfa-14920	38	14	problems	problem	NOUN
ajfa-14920	38	15	.	.	PUNCT
ajfa-14920	39	1	resource	resource	NOUN
ajfa-14920	39	2	allocation	allocation	NOUN
ajfa-14920	39	3	efficiency	efficiency	NOUN
ajfa-14920	39	4	reflects	reflect	VERB
ajfa-14920	39	5	the	the	DET
ajfa-14920	39	6	benefits	benefit	NOUN
ajfa-14920	39	7	of	of	ADP
ajfa-14920	39	8	the	the	DET
ajfa-14920	39	9	allocation	allocation	NOUN
ajfa-14920	39	10	of	of	ADP
ajfa-14920	39	11	scarce	scarce	ADJ
ajfa-14920	39	12	resources	resource	NOUN
ajfa-14920	39	13	among	among	ADP
ajfa-14920	39	14	different	different	ADJ
ajfa-14920	39	15	production	production	NOUN
ajfa-14920	39	16	entities	entity	NOUN
ajfa-14920	39	17	,	,	PUNCT
ajfa-14920	39	18	i.e.	i.e.	X
ajfa-14920	39	19	,	,	PUNCT
ajfa-14920	39	20	the	the	DET
ajfa-14920	39	21	efficiency	efficiency	NOUN
ajfa-14920	39	22	of	of	ADP
ajfa-14920	39	23	resource	resource	NOUN
ajfa-14920	39	24	allocation	allocation	NOUN
ajfa-14920	39	25	to	to	ADP
ajfa-14920	39	26	the	the	DET
ajfa-14920	39	27	most	most	ADV
ajfa-14920	39	28	efficient	efficient	ADJ
ajfa-14920	39	29	departments	department	NOUN
ajfa-14920	39	30	and	and	CCONJ
ajfa-14920	39	31	compaies	compaie	NOUN
ajfa-14920	39	32	(	(	PUNCT
ajfa-14920	39	33	cai	cai	X
ajfa-14920	39	34	,	,	PUNCT
ajfa-14920	39	35	2006	2006	NUM
ajfa-14920	39	36	)	)	PUNCT
ajfa-14920	39	37	.	.	PUNCT
ajfa-14920	40	1	the	the	DET
ajfa-14920	40	2	allocation	allocation	NOUN
ajfa-14920	40	3	of	of	ADP
ajfa-14920	40	4	financial	financial	ADJ
ajfa-14920	40	5	resources	resource	NOUN
ajfa-14920	40	6	plays	play	VERB
ajfa-14920	40	7	a	a	DET
ajfa-14920	40	8	leading	lead	VERB
ajfa-14920	40	9	role	role	NOUN
ajfa-14920	40	10	in	in	ADP
ajfa-14920	40	11	resource	resource	NOUN
ajfa-14920	40	12	allocation	allocation	NOUN
ajfa-14920	40	13	,	,	PUNCT
ajfa-14920	40	14	as	as	SCONJ
ajfa-14920	40	15	the	the	DET
ajfa-14920	40	16	flow	flow	NOUN
ajfa-14920	40	17	of	of	ADP
ajfa-14920	40	18	financial	financial	ADJ
ajfa-14920	40	19	resources	resource	NOUN
ajfa-14920	40	20	drives	drive	VERB
ajfa-14920	40	21	the	the	DET
ajfa-14920	40	22	flow	flow	NOUN
ajfa-14920	40	23	of	of	ADP
ajfa-14920	40	24	other	other	ADJ
ajfa-14920	40	25	economic	economic	ADJ
ajfa-14920	40	26	resources	resource	NOUN
ajfa-14920	40	27	.	.	PUNCT
ajfa-14920	41	1	as	as	ADP
ajfa-14920	41	2	coase	coase	PROPN
ajfa-14920	41	3	(	(	PUNCT
ajfa-14920	41	4	1965	1965	NUM
ajfa-14920	41	5	)	)	PUNCT
ajfa-14920	41	6	pointed	point	VERB
ajfa-14920	41	7	out	out	ADP
ajfa-14920	41	8	,	,	PUNCT
ajfa-14920	41	9	whether	whether	SCONJ
ajfa-14920	41	10	a	a	DET
ajfa-14920	41	11	company	company	NOUN
ajfa-14920	41	12	’s	’s	PART
ajfa-14920	41	13	demand	demand	NOUN
ajfa-14920	41	14	for	for	ADP
ajfa-14920	41	15	financial	financial	ADJ
ajfa-14920	41	16	resources	resource	NOUN
ajfa-14920	41	17	can	can	AUX
ajfa-14920	41	18	be	be	AUX
ajfa-14920	41	19	met	meet	VERB
ajfa-14920	41	20	determines	determine	VERB
ajfa-14920	41	21	its	its	PRON
ajfa-14920	41	22	economic	economic	ADJ
ajfa-14920	41	23	development	development	NOUN
ajfa-14920	41	24	.	.	PUNCT
ajfa-14920	42	1	according	accord	VERB
ajfa-14920	42	2	to	to	ADP
ajfa-14920	42	3	the	the	DET
ajfa-14920	42	4	resource	resource	NOUN
ajfa-14920	42	5	allocation	allocation	NOUN
ajfa-14920	42	6	efficiency	efficiency	NOUN
ajfa-14920	42	7	theory	theory	NOUN
ajfa-14920	42	8	,	,	PUNCT
ajfa-14920	42	9	financial	financial	ADJ
ajfa-14920	42	10	resources	resource	NOUN
ajfa-14920	42	11	should	should	AUX
ajfa-14920	42	12	flow	flow	VERB
ajfa-14920	42	13	to	to	ADP
ajfa-14920	42	14	the	the	DET
ajfa-14920	42	15	departments	department	NOUN
ajfa-14920	42	16	and	and	CCONJ
ajfa-14920	42	17	companies	company	NOUN
ajfa-14920	42	18	with	with	ADP
ajfa-14920	42	19	the	the	DET
ajfa-14920	42	20	highest	high	ADJ
ajfa-14920	42	21	operating	operating	NOUN
ajfa-14920	42	22	efficiency	efficiency	NOUN
ajfa-14920	42	23	.	.	PUNCT
ajfa-14920	43	1	the	the	DET
ajfa-14920	43	2	efficiency	efficiency	NOUN
ajfa-14920	43	3	and	and	CCONJ
ajfa-14920	43	4	financial	financial	ADJ
ajfa-14920	43	5	resource	resource	NOUN
ajfa-14920	43	6	allocation	allocation	NOUN
ajfa-14920	43	7	should	should	AUX
ajfa-14920	43	8	be	be	AUX
ajfa-14920	43	9	consistent	consistent	ADJ
ajfa-14920	43	10	to	to	PART
ajfa-14920	43	11	achieve	achieve	VERB
ajfa-14920	43	12	the	the	DET
ajfa-14920	43	13	pareto	pareto	ADJ
ajfa-14920	43	14	optimality	optimality	NOUN
ajfa-14920	43	15	of	of	ADP
ajfa-14920	43	16	financial	financial	ADJ
ajfa-14920	43	17	resource	resource	NOUN
ajfa-14920	43	18	allocation	allocation	NOUN
ajfa-14920	43	19	(	(	PUNCT
ajfa-14920	43	20	wang	wang	PROPN
ajfa-14920	43	21	,	,	PUNCT
ajfa-14920	43	22	1999	1999	NUM
ajfa-14920	43	23	;	;	PUNCT
ajfa-14920	43	24	he	he	PRON
ajfa-14920	43	25	et	et	PROPN
ajfa-14920	43	26	al	al	PROPN
ajfa-14920	43	27	.	.	PROPN
ajfa-14920	43	28	,	,	PUNCT
ajfa-14920	43	29	2004	2004	NUM
ajfa-14920	43	30	)	)	PUNCT
ajfa-14920	43	31	.	.	PUNCT
ajfa-14920	44	1	financial	financial	ADJ
ajfa-14920	44	2	mismatch	mismatch	NOUN
ajfa-14920	44	3	is	be	AUX
ajfa-14920	44	4	an	an	DET
ajfa-14920	44	5	inefficient	inefficient	ADJ
ajfa-14920	44	6	state	state	NOUN
ajfa-14920	44	7	of	of	ADP
ajfa-14920	44	8	financial	financial	ADJ
ajfa-14920	44	9	resource	resource	NOUN
ajfa-14920	44	10	allocation	allocation	NOUN
ajfa-14920	44	11	,	,	PUNCT
ajfa-14920	44	12	i.e.	i.e.	X
ajfa-14920	44	13	,	,	PUNCT
ajfa-14920	44	14	departments	department	NOUN
ajfa-14920	44	15	and	and	CCONJ
ajfa-14920	44	16	companies	company	NOUN
ajfa-14920	44	17	that	that	PRON
ajfa-14920	44	18	occupy	occupy	VERB
ajfa-14920	44	19	financial	financial	ADJ
ajfa-14920	44	20	resources	resource	NOUN
ajfa-14920	44	21	can	can	AUX
ajfa-14920	44	22	not	not	PART
ajfa-14920	44	23	work	work	VERB
ajfa-14920	44	24	in	in	ADP
ajfa-14920	44	25	high	high	ADJ
ajfa-14920	44	26	efficiency	efficiency	NOUN
ajfa-14920	44	27	.	.	PUNCT
ajfa-14920	45	1	financial	financial	ADJ
ajfa-14920	45	2	mismatch	mismatch	NOUN
ajfa-14920	45	3	wildly	wildly	ADV
ajfa-14920	45	4	exist	exist	VERB
ajfa-14920	45	5	in	in	ADP
ajfa-14920	45	6	china	china	PROPN
ajfa-14920	45	7	’s	’s	PART
ajfa-14920	45	8	financial	financial	ADJ
ajfa-14920	45	9	system	system	NOUN
ajfa-14920	45	10	.	.	PUNCT
ajfa-14920	46	1	the	the	DET
ajfa-14920	46	2	asymmetric	asymmetric	ADJ
ajfa-14920	46	3	financing	financing	NOUN
ajfa-14920	46	4	ability	ability	NOUN
ajfa-14920	46	5	of	of	ADP
ajfa-14920	46	6	state	state	NOUN
ajfa-14920	46	7	-	-	PUNCT
ajfa-14920	46	8	owned	own	VERB
ajfa-14920	46	9	enterprises	enterprise	NOUN
ajfa-14920	46	10	and	and	CCONJ
ajfa-14920	46	11	private	private	ADJ
ajfa-14920	46	12	enterprises	enterprise	NOUN
ajfa-14920	46	13	are	be	AUX
ajfa-14920	46	14	the	the	DET
ajfa-14920	46	15	main	main	ADJ
ajfa-14920	46	16	reflection	reflection	NOUN
ajfa-14920	46	17	of	of	ADP
ajfa-14920	46	18	financial	financial	ADJ
ajfa-14920	46	19	mismatch	mismatch	NOUN
ajfa-14920	46	20	(	(	PUNCT
ajfa-14920	46	21	lu	lu	PROPN
ajfa-14920	46	22	,	,	PUNCT
ajfa-14920	46	23	2008	2008	NUM
ajfa-14920	46	24	)	)	PUNCT
ajfa-14920	46	25	.	.	PUNCT
ajfa-14920	47	1	although	although	SCONJ
ajfa-14920	47	2	the	the	DET
ajfa-14920	47	3	asymmetric	asymmetric	ADJ
ajfa-14920	47	4	financing	financing	NOUN
ajfa-14920	47	5	ability	ability	NOUN
ajfa-14920	47	6	of	of	ADP
ajfa-14920	47	7	state	state	NOUN
ajfa-14920	47	8	-	-	PUNCT
ajfa-14920	47	9	owned	own	VERB
ajfa-14920	47	10	enterprises	enterprise	NOUN
ajfa-14920	47	11	and	and	CCONJ
ajfa-14920	47	12	private	private	ADJ
ajfa-14920	47	13	enterprises	enterprise	NOUN
ajfa-14920	47	14	stems	stem	VERB
ajfa-14920	47	15	from	from	ADP
ajfa-14920	47	16	weaknesses	weakness	NOUN
ajfa-14920	47	17	of	of	ADP
ajfa-14920	47	18	private	private	ADJ
ajfa-14920	47	19	enterprises	enterprise	NOUN
ajfa-14920	47	20	,	,	PUNCT
ajfa-14920	47	21	such	such	ADJ
ajfa-14920	47	22	as	as	ADP
ajfa-14920	47	23	poor	poor	ADJ
ajfa-14920	47	24	anti	anti	ADJ
ajfa-14920	47	25	-	-	ADJ
ajfa-14920	47	26	risk	risk	ADJ
ajfa-14920	47	27	ability	ability	NOUN
ajfa-14920	47	28	and	and	CCONJ
ajfa-14920	47	29	insufficient	insufficient	ADJ
ajfa-14920	47	30	collateral	collateral	NOUN
ajfa-14920	47	31	,	,	PUNCT
ajfa-14920	47	32	the	the	DET
ajfa-14920	47	33	main	main	ADJ
ajfa-14920	47	34	effect	effect	NOUN
ajfa-14920	47	35	from	from	ADP
ajfa-14920	47	36	institutional	institutional	ADJ
ajfa-14920	47	37	problems	problem	NOUN
ajfa-14920	47	38	can	can	AUX
ajfa-14920	47	39	not	not	PART
ajfa-14920	47	40	be	be	AUX
ajfa-14920	47	41	neglected	neglect	VERB
ajfa-14920	47	42	(	(	PUNCT
ajfa-14920	47	43	li	li	PROPN
ajfa-14920	47	44	et	et	PROPN
ajfa-14920	47	45	al	al	PROPN
ajfa-14920	47	46	.	.	PROPN
ajfa-14920	47	47	,	,	PUNCT
ajfa-14920	47	48	2011	2011	NUM
ajfa-14920	47	49	)	)	PUNCT
ajfa-14920	47	50	.	.	PUNCT
ajfa-14920	48	1	private	private	ADJ
ajfa-14920	48	2	enterprises	enterprise	NOUN
ajfa-14920	48	3	are	be	AUX
ajfa-14920	48	4	more	more	ADV
ajfa-14920	48	5	efficient	efficient	ADJ
ajfa-14920	48	6	than	than	ADP
ajfa-14920	48	7	state	state	NOUN
ajfa-14920	48	8	-	-	PUNCT
ajfa-14920	48	9	owned	own	VERB
ajfa-14920	48	10	enterprises	enterprise	NOUN
ajfa-14920	48	11	,	,	PUNCT
ajfa-14920	48	12	but	but	CCONJ
ajfa-14920	48	13	more	more	ADV
ajfa-14920	48	14	difficult	difficult	ADJ
ajfa-14920	48	15	to	to	PART
ajfa-14920	48	16	obtain	obtain	VERB
ajfa-14920	48	17	financial	financial	ADJ
ajfa-14920	48	18	resources	resource	NOUN
ajfa-14920	48	19	(	(	PUNCT
ajfa-14920	48	20	liu	liu	PROPN
ajfa-14920	48	21	,	,	PUNCT
ajfa-14920	48	22	2000	2000	NUM
ajfa-14920	48	23	;	;	PUNCT
ajfa-14920	48	24	ayyagarietal	ayyagarietal	ADJ
ajfa-14920	48	25	,	,	PUNCT
ajfa-14920	48	26	2008	2008	NUM
ajfa-14920	48	27	)	)	PUNCT
ajfa-14920	48	28	.	.	PUNCT
ajfa-14920	49	1	private	private	ADJ
ajfa-14920	49	2	enterprises	enterprise	NOUN
ajfa-14920	49	3	need	need	VERB
ajfa-14920	49	4	to	to	PART
ajfa-14920	49	5	pay	pay	VERB
ajfa-14920	49	6	a	a	DET
ajfa-14920	49	7	higher	high	ADJ
ajfa-14920	49	8	price	price	NOUN
ajfa-14920	49	9	for	for	ADP
ajfa-14920	49	10	obtaining	obtain	VERB
ajfa-14920	49	11	financial	financial	ADJ
ajfa-14920	49	12	resources	resource	NOUN
ajfa-14920	49	13	than	than	ADP
ajfa-14920	49	14	state	state	NOUN
ajfa-14920	49	15	-	-	PUNCT
ajfa-14920	49	16	owned	own	VERB
ajfa-14920	49	17	enterprises	enterprise	NOUN
ajfa-14920	49	18	(	(	PUNCT
ajfa-14920	49	19	as	as	SCONJ
ajfa-14920	49	20	shown	show	VERB
ajfa-14920	49	21	in	in	ADP
ajfa-14920	49	22	table	table	NOUN
ajfa-14920	49	23	1	1	NUM
ajfa-14920	49	24	)	)	PUNCT
ajfa-14920	49	25	.	.	PUNCT
ajfa-14920	50	1	asian	asian	ADJ
ajfa-14920	50	2	journal	journal	PROPN
ajfa-14920	50	3	of	of	ADP
ajfa-14920	50	4	finance	finance	PROPN
ajfa-14920	50	5	&	&	CCONJ
ajfa-14920	50	6	accounting	accounting	PROPN
ajfa-14920	50	7	issn	issn	PROPN
ajfa-14920	50	8	1946	1946	NUM
ajfa-14920	50	9	-	-	PUNCT
ajfa-14920	50	10	052x	052x	PROPN
ajfa-14920	50	11	2019	2019	NUM
ajfa-14920	50	12	,	,	PUNCT
ajfa-14920	50	13	vol	vol	NOUN
ajfa-14920	50	14	.	.	PROPN
ajfa-14920	50	15	11	11	NUM
ajfa-14920	50	16	,	,	PUNCT
ajfa-14920	50	17	no	no	INTJ
ajfa-14920	50	18	.	.	NOUN
ajfa-14920	50	19	2	2	NUM
ajfa-14920	50	20	ajfa.macrothink.org/	ajfa.macrothink.org/	NOUN
ajfa-14920	50	21	239	239	NUM
ajfa-14920	50	22	table	table	NOUN
ajfa-14920	50	23	1	1	NUM
ajfa-14920	50	24	.	.	PUNCT
ajfa-14920	50	25	average	average	ADJ
ajfa-14920	50	26	interest	interest	NOUN
ajfa-14920	50	27	rate	rate	NOUN
ajfa-14920	50	28	of	of	ADP
ajfa-14920	50	29	the	the	DET
ajfa-14920	50	30	above	above	ADJ
ajfa-14920	50	31	-	-	PUNCT
ajfa-14920	50	32	scale	scale	NOUN
ajfa-14920	50	33	*	*	PUNCT
ajfa-14920	50	34	state	state	NOUN
ajfa-14920	50	35	-	-	PUNCT
ajfa-14920	50	36	owned	own	VERB
ajfa-14920	50	37	enterprises	enterprise	NOUN
ajfa-14920	50	38	and	and	CCONJ
ajfa-14920	50	39	private	private	ADJ
ajfa-14920	50	40	enterprises	enterprise	NOUN
ajfa-14920	50	41	*	*	PUNCT
ajfa-14920	50	42	before	before	ADP
ajfa-14920	50	43	2011	2011	NUM
ajfa-14920	50	44	,	,	PUNCT
ajfa-14920	50	45	the	the	DET
ajfa-14920	50	46	above	above	ADJ
ajfa-14920	50	47	-	-	PUNCT
ajfa-14920	50	48	scale	scale	NOUN
ajfa-14920	50	49	enterprise	enterprise	NOUN
ajfa-14920	50	50	refers	refer	VERB
ajfa-14920	50	51	to	to	ADP
ajfa-14920	50	52	the	the	DET
ajfa-14920	50	53	annual	annual	ADJ
ajfa-14920	50	54	operating	operate	VERB
ajfa-14920	50	55	income	income	NOUN
ajfa-14920	50	56	of	of	ADP
ajfa-14920	50	57	enterprises	enterprise	NOUN
ajfa-14920	50	58	above	above	ADP
ajfa-14920	50	59	5	5	NUM
ajfa-14920	50	60	million	million	NUM
ajfa-14920	50	61	yuan	yuan	NOUN
ajfa-14920	50	62	.	.	PUNCT
ajfa-14920	51	1	this	this	DET
ajfa-14920	51	2	standard	standard	NOUN
ajfa-14920	51	3	was	be	AUX
ajfa-14920	51	4	improved	improve	VERB
ajfa-14920	51	5	to	to	ADP
ajfa-14920	51	6	20	20	NUM
ajfa-14920	51	7	million	million	NUM
ajfa-14920	51	8	in	in	ADP
ajfa-14920	51	9	2011	2011	NUM
ajfa-14920	51	10	.	.	PUNCT
ajfa-14920	52	1	there	there	PRON
ajfa-14920	52	2	are	be	VERB
ajfa-14920	52	3	two	two	NUM
ajfa-14920	52	4	concepts	concept	NOUN
ajfa-14920	52	5	that	that	PRON
ajfa-14920	52	6	need	need	VERB
ajfa-14920	52	7	to	to	PART
ajfa-14920	52	8	be	be	AUX
ajfa-14920	52	9	discerned	discern	VERB
ajfa-14920	52	10	,	,	PUNCT
ajfa-14920	52	11	financial	financial	ADJ
ajfa-14920	52	12	mismatch	mismatch	NOUN
ajfa-14920	52	13	and	and	CCONJ
ajfa-14920	52	14	credit	credit	NOUN
ajfa-14920	52	15	discrimination	discrimination	NOUN
ajfa-14920	52	16	.	.	PUNCT
ajfa-14920	53	1	credit	credit	NOUN
ajfa-14920	53	2	discrimination	discrimination	NOUN
ajfa-14920	53	3	emphasizes	emphasize	VERB
ajfa-14920	53	4	the	the	DET
ajfa-14920	53	5	flow	flow	NOUN
ajfa-14920	53	6	of	of	ADP
ajfa-14920	53	7	financial	financial	ADJ
ajfa-14920	53	8	resources	resource	NOUN
ajfa-14920	53	9	to	to	ADP
ajfa-14920	53	10	state	state	NOUN
ajfa-14920	53	11	-	-	PUNCT
ajfa-14920	53	12	owned	own	VERB
ajfa-14920	53	13	enterprises	enterprise	NOUN
ajfa-14920	53	14	,	,	PUNCT
ajfa-14920	53	15	while	while	SCONJ
ajfa-14920	53	16	financial	financial	ADJ
ajfa-14920	53	17	mismatch	mismatch	NOUN
ajfa-14920	53	18	emphasizes	emphasize	VERB
ajfa-14920	53	19	the	the	DET
ajfa-14920	53	20	flow	flow	NOUN
ajfa-14920	53	21	of	of	ADP
ajfa-14920	53	22	financial	financial	ADJ
ajfa-14920	53	23	resources	resource	NOUN
ajfa-14920	53	24	to	to	ADP
ajfa-14920	53	25	inefficient	inefficient	ADJ
ajfa-14920	53	26	enterprises	enterprise	NOUN
ajfa-14920	53	27	.	.	PUNCT
ajfa-14920	54	1	at	at	ADP
ajfa-14920	54	2	the	the	DET
ajfa-14920	54	3	present	present	ADJ
ajfa-14920	54	4	stage	stage	NOUN
ajfa-14920	54	5	,	,	PUNCT
ajfa-14920	54	6	the	the	DET
ajfa-14920	54	7	low	low	ADJ
ajfa-14920	54	8	efficiency	efficiency	NOUN
ajfa-14920	54	9	of	of	ADP
ajfa-14920	54	10	state	state	NOUN
ajfa-14920	54	11	-	-	PUNCT
ajfa-14920	54	12	owned	own	VERB
ajfa-14920	54	13	enterprises	enterprise	NOUN
ajfa-14920	54	14	in	in	ADP
ajfa-14920	54	15	china	china	PROPN
ajfa-14920	54	16	leads	lead	VERB
ajfa-14920	54	17	to	to	ADP
ajfa-14920	54	18	the	the	DET
ajfa-14920	54	19	overlap	overlap	NOUN
ajfa-14920	54	20	of	of	ADP
ajfa-14920	54	21	credit	credit	NOUN
ajfa-14920	54	22	discrimination	discrimination	NOUN
ajfa-14920	54	23	and	and	CCONJ
ajfa-14920	54	24	financial	financial	ADJ
ajfa-14920	54	25	mismatch	mismatch	NOUN
ajfa-14920	54	26	,	,	PUNCT
ajfa-14920	54	27	but	but	CCONJ
ajfa-14920	54	28	there	there	PRON
ajfa-14920	54	29	are	be	VERB
ajfa-14920	54	30	essential	essential	ADJ
ajfa-14920	54	31	differences	difference	NOUN
ajfa-14920	54	32	between	between	ADP
ajfa-14920	54	33	the	the	DET
ajfa-14920	54	34	two	two	NUM
ajfa-14920	54	35	concepts	concept	NOUN
ajfa-14920	54	36	.	.	PUNCT
ajfa-14920	55	1	first	first	ADV
ajfa-14920	55	2	of	of	ADP
ajfa-14920	55	3	all	all	PRON
ajfa-14920	55	4	,	,	PUNCT
ajfa-14920	55	5	the	the	DET
ajfa-14920	55	6	starting	starting	NOUN
ajfa-14920	55	7	point	point	NOUN
ajfa-14920	55	8	of	of	ADP
ajfa-14920	55	9	the	the	DET
ajfa-14920	55	10	two	two	NUM
ajfa-14920	55	11	is	be	AUX
ajfa-14920	55	12	different	different	ADJ
ajfa-14920	55	13	.	.	PUNCT
ajfa-14920	56	1	the	the	DET
ajfa-14920	56	2	starting	starting	NOUN
ajfa-14920	56	3	point	point	NOUN
ajfa-14920	56	4	of	of	ADP
ajfa-14920	56	5	credit	credit	NOUN
ajfa-14920	56	6	discrimination	discrimination	NOUN
ajfa-14920	56	7	is	be	AUX
ajfa-14920	56	8	the	the	DET
ajfa-14920	56	9	nature	nature	NOUN
ajfa-14920	56	10	of	of	ADP
ajfa-14920	56	11	property	property	NOUN
ajfa-14920	56	12	rights	right	NOUN
ajfa-14920	56	13	of	of	ADP
ajfa-14920	56	14	enterprises	enterprise	NOUN
ajfa-14920	56	15	,	,	PUNCT
ajfa-14920	56	16	and	and	CCONJ
ajfa-14920	56	17	the	the	DET
ajfa-14920	56	18	starting	starting	NOUN
ajfa-14920	56	19	point	point	NOUN
ajfa-14920	56	20	of	of	ADP
ajfa-14920	56	21	financial	financial	ADJ
ajfa-14920	56	22	mismatch	mismatch	NOUN
ajfa-14920	56	23	is	be	AUX
ajfa-14920	56	24	enterprise	enterprise	NOUN
ajfa-14920	56	25	efficiency	efficiency	NOUN
ajfa-14920	56	26	.	.	PUNCT
ajfa-14920	57	1	secondly	secondly	ADV
ajfa-14920	57	2	,	,	PUNCT
ajfa-14920	57	3	credit	credit	NOUN
ajfa-14920	57	4	discrimination	discrimination	NOUN
ajfa-14920	57	5	is	be	AUX
ajfa-14920	57	6	one	one	NUM
ajfa-14920	57	7	of	of	ADP
ajfa-14920	57	8	the	the	DET
ajfa-14920	57	9	manifestations	manifestation	NOUN
ajfa-14920	57	10	of	of	ADP
ajfa-14920	57	11	financial	financial	ADJ
ajfa-14920	57	12	mismatch	mismatch	NOUN
ajfa-14920	57	13	,	,	PUNCT
ajfa-14920	57	14	but	but	CCONJ
ajfa-14920	57	15	it	it	PRON
ajfa-14920	57	16	can	can	AUX
ajfa-14920	57	17	not	not	PART
ajfa-14920	57	18	cover	cover	VERB
ajfa-14920	57	19	all	all	DET
ajfa-14920	57	20	financial	financial	ADJ
ajfa-14920	57	21	mismatch	mismatch	NOUN
ajfa-14920	57	22	.	.	PUNCT
ajfa-14920	58	1	lastly	lastly	ADV
ajfa-14920	58	2	,	,	PUNCT
ajfa-14920	58	3	credit	credit	NOUN
ajfa-14920	58	4	discrimination	discrimination	NOUN
ajfa-14920	58	5	is	be	AUX
ajfa-14920	58	6	a	a	DET
ajfa-14920	58	7	narrow	narrow	ADJ
ajfa-14920	58	8	concept	concept	NOUN
ajfa-14920	58	9	,	,	PUNCT
ajfa-14920	58	10	while	while	SCONJ
ajfa-14920	58	11	financial	financial	ADJ
ajfa-14920	58	12	mismatch	mismatch	NOUN
ajfa-14920	58	13	is	be	AUX
ajfa-14920	58	14	a	a	DET
ajfa-14920	58	15	broad	broad	ADJ
ajfa-14920	58	16	concept	concept	NOUN
ajfa-14920	58	17	—	—	PUNCT
ajfa-14920	58	18	a	a	DET
ajfa-14920	58	19	financial	financial	ADJ
ajfa-14920	58	20	mismatch	mismatch	NOUN
ajfa-14920	58	21	can	can	AUX
ajfa-14920	58	22	also	also	ADV
ajfa-14920	58	23	exist	exist	VERB
ajfa-14920	58	24	in	in	ADP
ajfa-14920	58	25	firms	firm	NOUN
ajfa-14920	58	26	of	of	ADP
ajfa-14920	58	27	the	the	DET
ajfa-14920	58	28	same	same	ADJ
ajfa-14920	58	29	property	property	NOUN
ajfa-14920	58	30	right	right	NOUN
ajfa-14920	58	31	.	.	PUNCT
ajfa-14920	59	1	for	for	ADP
ajfa-14920	59	2	example	example	NOUN
ajfa-14920	59	3	,	,	PUNCT
ajfa-14920	59	4	local	local	ADJ
ajfa-14920	59	5	governments	government	NOUN
ajfa-14920	59	6	do	do	AUX
ajfa-14920	59	7	not	not	PART
ajfa-14920	59	8	hesitate	hesitate	VERB
ajfa-14920	59	9	to	to	PART
ajfa-14920	59	10	obtain	obtain	VERB
ajfa-14920	59	11	loans	loan	NOUN
ajfa-14920	59	12	for	for	ADP
ajfa-14920	59	13	inefficient	inefficient	ADJ
ajfa-14920	59	14	state	state	NOUN
ajfa-14920	59	15	-	-	PUNCT
ajfa-14920	59	16	owned	own	VERB
ajfa-14920	59	17	enterprises	enterprise	NOUN
ajfa-14920	59	18	through	through	ADP
ajfa-14920	59	19	administrative	administrative	ADJ
ajfa-14920	59	20	interventions	intervention	NOUN
ajfa-14920	59	21	.	.	PUNCT
ajfa-14920	60	1	other	other	ADJ
ajfa-14920	60	2	high	high	ADJ
ajfa-14920	60	3	-	-	PUNCT
ajfa-14920	60	4	efficiency	efficiency	NOUN
ajfa-14920	60	5	state	state	NOUN
ajfa-14920	60	6	-	-	PUNCT
ajfa-14920	60	7	owned	own	VERB
ajfa-14920	60	8	enterprises	enterprise	NOUN
ajfa-14920	60	9	can	can	AUX
ajfa-14920	60	10	not	not	PART
ajfa-14920	60	11	obtain	obtain	VERB
ajfa-14920	60	12	such	such	ADJ
ajfa-14920	60	13	strong	strong	ADJ
ajfa-14920	60	14	government	government	NOUN
ajfa-14920	60	15	support	support	NOUN
ajfa-14920	60	16	,	,	PUNCT
ajfa-14920	60	17	which	which	PRON
ajfa-14920	60	18	reflects	reflect	VERB
ajfa-14920	60	19	the	the	DET
ajfa-14920	60	20	problem	problem	NOUN
ajfa-14920	60	21	of	of	ADP
ajfa-14920	60	22	financial	financial	ADJ
ajfa-14920	60	23	mismatch	mismatch	NOUN
ajfa-14920	60	24	within	within	ADP
ajfa-14920	60	25	state	state	NOUN
ajfa-14920	60	26	-	-	PUNCT
ajfa-14920	60	27	owned	own	VERB
ajfa-14920	60	28	enterprises	enterprise	NOUN
ajfa-14920	60	29	.	.	PUNCT
ajfa-14920	61	1	wang	wang	PROPN
ajfa-14920	61	2	(	(	PUNCT
ajfa-14920	61	3	2000	2000	NUM
ajfa-14920	61	4	)	)	PUNCT
ajfa-14920	61	5	mainly	mainly	ADV
ajfa-14920	61	6	focused	focus	VERB
ajfa-14920	61	7	on	on	ADP
ajfa-14920	61	8	the	the	DET
ajfa-14920	61	9	allocation	allocation	NOUN
ajfa-14920	61	10	of	of	ADP
ajfa-14920	61	11	financial	financial	ADJ
ajfa-14920	61	12	resources	resource	NOUN
ajfa-14920	61	13	.	.	PUNCT
ajfa-14920	62	1	by	by	ADP
ajfa-14920	62	2	analyzing	analyze	VERB
ajfa-14920	62	3	the	the	DET
ajfa-14920	62	4	distribution	distribution	NOUN
ajfa-14920	62	5	of	of	ADP
ajfa-14920	62	6	financial	financial	ADJ
ajfa-14920	62	7	resources	resource	NOUN
ajfa-14920	62	8	in	in	ADP
ajfa-14920	62	9	china	china	PROPN
ajfa-14920	62	10	,	,	PUNCT
ajfa-14920	62	11	wang(2000	wang(2000	PROPN
ajfa-14920	62	12	)	)	PUNCT
ajfa-14920	62	13	pointed	point	VERB
ajfa-14920	62	14	out	out	ADP
ajfa-14920	62	15	that	that	SCONJ
ajfa-14920	62	16	the	the	DET
ajfa-14920	62	17	current	current	ADJ
ajfa-14920	62	18	allocation	allocation	NOUN
ajfa-14920	62	19	efficiency	efficiency	NOUN
ajfa-14920	62	20	is	be	AUX
ajfa-14920	62	21	low	low	ADJ
ajfa-14920	62	22	.	.	PUNCT
ajfa-14920	63	1	mainly	mainly	ADV
ajfa-14920	63	2	occurred	occur	VERB
ajfa-14920	63	3	in	in	ADP
ajfa-14920	63	4	,	,	PUNCT
ajfa-14920	63	5	(	(	PUNCT
ajfa-14920	63	6	1	1	X
ajfa-14920	63	7	)	)	PUNCT
ajfa-14920	63	8	financial	financial	ADJ
ajfa-14920	63	9	institutions	institution	NOUN
ajfa-14920	63	10	do	do	AUX
ajfa-14920	63	11	not	not	PART
ajfa-14920	63	12	have	have	VERB
ajfa-14920	63	13	flexible	flexible	ADJ
ajfa-14920	63	14	operating	operating	NOUN
ajfa-14920	63	15	methods	method	NOUN
ajfa-14920	63	16	as	as	ADV
ajfa-14920	63	17	well	well	ADV
ajfa-14920	63	18	as	as	ADP
ajfa-14920	63	19	lack	lack	NOUN
ajfa-14920	63	20	of	of	ADP
ajfa-14920	63	21	high	high	ADJ
ajfa-14920	63	22	-	-	PUNCT
ajfa-14920	63	23	level	level	NOUN
ajfa-14920	63	24	management	management	NOUN
ajfa-14920	63	25	,	,	PUNCT
ajfa-14920	63	26	and	and	CCONJ
ajfa-14920	63	27	are	be	AUX
ajfa-14920	63	28	unable	unable	ADJ
ajfa-14920	63	29	to	to	PART
ajfa-14920	63	30	provide	provide	VERB
ajfa-14920	63	31	high	high	ADJ
ajfa-14920	63	32	-	-	PUNCT
ajfa-14920	63	33	quality	quality	NOUN
ajfa-14920	63	34	financial	financial	ADJ
ajfa-14920	63	35	services	service	NOUN
ajfa-14920	63	36	.	.	PUNCT
ajfa-14920	64	1	hence	hence	ADV
ajfa-14920	64	2	it	it	PRON
ajfa-14920	64	3	leads	lead	VERB
ajfa-14920	64	4	to	to	ADP
ajfa-14920	64	5	lower	low	ADJ
ajfa-14920	64	6	financial	financial	ADJ
ajfa-14920	64	7	market	market	NOUN
ajfa-14920	64	8	efficiency	efficiency	NOUN
ajfa-14920	64	9	.	.	PUNCT
ajfa-14920	65	1	(	(	PUNCT
ajfa-14920	65	2	2	2	X
ajfa-14920	65	3	)	)	PUNCT
ajfa-14920	65	4	although	although	SCONJ
ajfa-14920	65	5	stateowned	stateowne	VERB
ajfa-14920	65	6	enterprises	enterprise	NOUN
ajfa-14920	65	7	are	be	AUX
ajfa-14920	65	8	state	state	NOUN
ajfa-14920	65	9	-	-	PUNCT
ajfa-14920	65	10	backed	back	VERB
ajfa-14920	65	11	,	,	PUNCT
ajfa-14920	65	12	their	their	PRON
ajfa-14920	65	13	operating	operate	VERB
ajfa-14920	65	14	management	management	NOUN
ajfa-14920	65	15	concepts	concept	NOUN
ajfa-14920	65	16	lag	lag	VERB
ajfa-14920	65	17	behind	behind	ADP
ajfa-14920	65	18	,	,	PUNCT
ajfa-14920	65	19	management	management	NOUN
ajfa-14920	65	20	level	level	NOUN
ajfa-14920	65	21	is	be	AUX
ajfa-14920	65	22	low	low	ADJ
ajfa-14920	65	23	,	,	PUNCT
ajfa-14920	65	24	and	and	CCONJ
ajfa-14920	65	25	the	the	DET
ajfa-14920	65	26	operating	operating	NOUN
ajfa-14920	65	27	mechanism	mechanism	NOUN
ajfa-14920	65	28	is	be	AUX
ajfa-14920	65	29	not	not	PART
ajfa-14920	65	30	flexible	flexible	ADJ
ajfa-14920	65	31	.	.	PUNCT
ajfa-14920	66	1	although	although	SCONJ
ajfa-14920	66	2	financial	financial	ADJ
ajfa-14920	66	3	institutions	institution	NOUN
ajfa-14920	66	4	such	such	ADJ
ajfa-14920	66	5	as	as	ADP
ajfa-14920	66	6	banks	bank	NOUN
ajfa-14920	66	7	will	will	AUX
ajfa-14920	66	8	make	make	VERB
ajfa-14920	66	9	large	large	ADJ
ajfa-14920	66	10	amounts	amount	NOUN
ajfa-14920	66	11	of	of	ADP
ajfa-14920	66	12	loans	loan	NOUN
ajfa-14920	66	13	in	in	ADP
ajfa-14920	66	14	terms	term	NOUN
ajfa-14920	66	15	of	of	ADP
ajfa-14920	66	16	access	access	NOUN
ajfa-14920	66	17	to	to	ADP
ajfa-14920	66	18	funds	fund	NOUN
ajfa-14920	66	19	,	,	PUNCT
ajfa-14920	66	20	poor	poor	ADJ
ajfa-14920	66	21	business	business	NOUN
ajfa-14920	66	22	management	management	NOUN
ajfa-14920	66	23	leads	lead	VERB
ajfa-14920	66	24	to	to	PART
ajfa-14920	66	25	fail	fail	VERB
ajfa-14920	66	26	to	to	PART
ajfa-14920	66	27	create	create	VERB
ajfa-14920	66	28	value	value	NOUN
ajfa-14920	66	29	,	,	PUNCT
ajfa-14920	66	30	which	which	PRON
ajfa-14920	66	31	makes	make	VERB
ajfa-14920	66	32	it	it	PRON
ajfa-14920	66	33	impossible	impossible	ADJ
ajfa-14920	66	34	for	for	SCONJ
ajfa-14920	66	35	banks	bank	NOUN
ajfa-14920	66	36	to	to	PART
ajfa-14920	66	37	effectively	effectively	ADV
ajfa-14920	66	38	withdrawal	withdrawal	NOUN
ajfa-14920	66	39	of	of	ADP
ajfa-14920	66	40	funds	fund	NOUN
ajfa-14920	66	41	and	and	CCONJ
ajfa-14920	66	42	increases	increase	VERB
ajfa-14920	66	43	financial	financial	ADJ
ajfa-14920	66	44	risks	risk	NOUN
ajfa-14920	66	45	.	.	PUNCT
ajfa-14920	67	1	in	in	ADP
ajfa-14920	67	2	addition	addition	NOUN
ajfa-14920	67	3	,	,	PUNCT
ajfa-14920	67	4	the	the	DET
ajfa-14920	67	5	reason	reason	NOUN
ajfa-14920	67	6	for	for	ADP
ajfa-14920	67	7	the	the	DET
ajfa-14920	67	8	low	low	ADJ
ajfa-14920	67	9	financial	financial	ADJ
ajfa-14920	67	10	efficiency	efficiency	NOUN
ajfa-14920	67	11	is	be	AUX
ajfa-14920	67	12	information	information	NOUN
ajfa-14920	67	13	asymmetry	asymmetry	NOUN
ajfa-14920	67	14	and	and	CCONJ
ajfa-14920	67	15	unreasonable	unreasonable	ADJ
ajfa-14920	67	16	resource	resource	NOUN
ajfa-14920	67	17	allocation	allocation	NOUN
ajfa-14920	67	18	.	.	PUNCT
ajfa-14920	68	1	deng	deng	PROPN
ajfa-14920	68	2	(	(	PUNCT
ajfa-14920	68	3	2003	2003	NUM
ajfa-14920	68	4	)	)	PUNCT
ajfa-14920	68	5	analyzes	analyze	VERB
ajfa-14920	68	6	financial	financial	ADJ
ajfa-14920	68	7	efficiency	efficiency	NOUN
ajfa-14920	68	8	by	by	ADP
ajfa-14920	68	9	constructing	construct	VERB
ajfa-14920	68	10	a	a	DET
ajfa-14920	68	11	model	model	NOUN
ajfa-14920	68	12	of	of	ADP
ajfa-14920	68	13	economic	economic	ADJ
ajfa-14920	68	14	efficiency	efficiency	NOUN
ajfa-14920	68	15	and	and	CCONJ
ajfa-14920	68	16	then	then	ADV
ajfa-14920	68	17	using	use	VERB
ajfa-14920	68	18	this	this	PRON
ajfa-14920	68	19	as	as	ADP
ajfa-14920	68	20	a	a	DET
ajfa-14920	68	21	tool	tool	NOUN
ajfa-14920	68	22	to	to	PART
ajfa-14920	68	23	analyze	analyze	VERB
ajfa-14920	68	24	financial	financial	ADJ
ajfa-14920	68	25	efficiency	efficiency	NOUN
ajfa-14920	68	26	.	.	PUNCT
ajfa-14920	69	1	the	the	DET
ajfa-14920	69	2	result	result	NOUN
ajfa-14920	69	3	is	be	AUX
ajfa-14920	69	4	that	that	SCONJ
ajfa-14920	69	5	china	china	PROPN
ajfa-14920	69	6	’s	’s	PART
ajfa-14920	69	7	current	current	ADJ
ajfa-14920	69	8	financial	financial	ADJ
ajfa-14920	69	9	efficiency	efficiency	NOUN
ajfa-14920	69	10	is	be	AUX
ajfa-14920	69	11	low	low	ADJ
ajfa-14920	69	12	.	.	PUNCT
ajfa-14920	70	1	shen	shen	PROPN
ajfa-14920	70	2	(	(	PUNCT
ajfa-14920	70	3	2006	2006	NUM
ajfa-14920	70	4	)	)	PUNCT
ajfa-14920	70	5	pointed	point	VERB
ajfa-14920	70	6	out	out	ADP
ajfa-14920	70	7	that	that	SCONJ
ajfa-14920	70	8	chinese	chinese	ADJ
ajfa-14920	70	9	financial	financial	ADJ
ajfa-14920	70	10	efficiency	efficiency	NOUN
ajfa-14920	70	11	is	be	AUX
ajfa-14920	70	12	still	still	ADV
ajfa-14920	70	13	at	at	ADP
ajfa-14920	70	14	a	a	DET
ajfa-14920	70	15	low	low	ADJ
ajfa-14920	70	16	level	level	NOUN
ajfa-14920	70	17	at	at	ADP
ajfa-14920	70	18	the	the	DET
ajfa-14920	70	19	macro	macro	ADJ
ajfa-14920	70	20	level	level	NOUN
ajfa-14920	70	21	,	,	PUNCT
ajfa-14920	70	22	and	and	CCONJ
ajfa-14920	70	23	the	the	DET
ajfa-14920	70	24	main	main	ADJ
ajfa-14920	70	25	reason	reason	NOUN
ajfa-14920	70	26	for	for	ADP
ajfa-14920	70	27	the	the	DET
ajfa-14920	70	28	low	low	ADJ
ajfa-14920	70	29	efficiency	efficiency	NOUN
ajfa-14920	70	30	is	be	AUX
ajfa-14920	70	31	the	the	DET
ajfa-14920	70	32	lack	lack	NOUN
ajfa-14920	70	33	of	of	ADP
ajfa-14920	70	34	highlevel	highlevel	ADJ
ajfa-14920	70	35	financial	financial	ADJ
ajfa-14920	70	36	resources	resource	NOUN
ajfa-14920	70	37	.	.	PUNCT
ajfa-14920	71	1	the	the	DET
ajfa-14920	71	2	most	most	ADV
ajfa-14920	71	3	urgent	urgent	ADJ
ajfa-14920	71	4	task	task	NOUN
ajfa-14920	71	5	is	be	AUX
ajfa-14920	71	6	to	to	PART
ajfa-14920	71	7	insist	insist	VERB
ajfa-14920	71	8	on	on	ADP
ajfa-14920	71	9	efficiency	efficiency	NOUN
ajfa-14920	71	10	priority	priority	NOUN
ajfa-14920	71	11	in	in	ADP
ajfa-14920	71	12	principle	principle	NOUN
ajfa-14920	71	13	.	.	PUNCT
ajfa-14920	72	1	as	as	SCONJ
ajfa-14920	72	2	zhang	zhang	PROPN
ajfa-14920	72	3	and	and	CCONJ
ajfa-14920	72	4	ma	ma	PROPN
ajfa-14920	72	5	(	(	PUNCT
ajfa-14920	72	6	2012	2012	NUM
ajfa-14920	72	7	)	)	PUNCT
ajfa-14920	72	8	pointed	point	VERB
ajfa-14920	72	9	out	out	ADP
ajfa-14920	72	10	that	that	SCONJ
ajfa-14920	72	11	the	the	DET
ajfa-14920	72	12	macroeconomic	macroeconomic	ADJ
ajfa-14920	72	13	indicators	indicator	NOUN
ajfa-14920	72	14	can	can	AUX
ajfa-14920	72	15	not	not	PART
ajfa-14920	72	16	fully	fully	ADV
ajfa-14920	72	17	reflect	reflect	VERB
ajfa-14920	72	18	the	the	DET
ajfa-14920	72	19	status	status	NOUN
ajfa-14920	72	20	quo	quo	NOUN
ajfa-14920	72	21	of	of	ADP
ajfa-14920	72	22	financial	financial	ADJ
ajfa-14920	72	23	mismatch	mismatch	NOUN
ajfa-14920	72	24	in	in	ADP
ajfa-14920	72	25	china	china	PROPN
ajfa-14920	72	26	,	,	PUNCT
ajfa-14920	72	27	yu	yu	PROPN
ajfa-14920	72	28	(	(	PUNCT
ajfa-14920	72	29	2003	2003	NUM
ajfa-14920	72	30	)	)	PUNCT
ajfa-14920	72	31	pointed	point	VERB
ajfa-14920	72	32	out	out	ADP
ajfa-14920	72	33	that	that	SCONJ
ajfa-14920	72	34	the	the	DET
ajfa-14920	72	35	debt	debt	NOUN
ajfa-14920	72	36	management	management	NOUN
ajfa-14920	72	37	in	in	ADP
ajfa-14920	72	38	the	the	DET
ajfa-14920	72	39	capital	capital	NOUN
ajfa-14920	72	40	structure	structure	NOUN
ajfa-14920	72	41	of	of	ADP
ajfa-14920	72	42	listed	list	VERB
ajfa-14920	72	43	companies	company	NOUN
ajfa-14920	72	44	in	in	ADP
ajfa-14920	72	45	china	china	PROPN
ajfa-14920	72	46	exhibits	exhibit	VERB
ajfa-14920	72	47	ineffectiveness	ineffectiveness	NOUN
ajfa-14920	72	48	,	,	PUNCT
ajfa-14920	72	49	leading	lead	VERB
ajfa-14920	72	50	to	to	ADP
ajfa-14920	72	51	the	the	DET
ajfa-14920	72	52	firm	firm	NOUN
ajfa-14920	72	53	2004	2004	NUM
ajfa-14920	72	54	2005	2005	NUM
ajfa-14920	72	55	2006	2006	NUM
ajfa-14920	72	56	2007	2007	NUM
ajfa-14920	72	57	2008	2008	NUM
ajfa-14920	72	58	2009	2009	NUM
ajfa-14920	72	59	2010	2010	NUM
ajfa-14920	72	60	2011	2011	NUM
ajfa-14920	72	61	average	average	ADJ
ajfa-14920	72	62	interest	interest	NOUN
ajfa-14920	72	63	rate	rate	NOUN
ajfa-14920	72	64	state	state	NOUN
ajfa-14920	72	65	-	-	PUNCT
ajfa-14920	72	66	owned	own	VERB
ajfa-14920	72	67	1.77	1.77	NUM
ajfa-14920	72	68	%	%	NOUN
ajfa-14920	72	69	1.82	1.82	NUM
ajfa-14920	72	70	%	%	NOUN
ajfa-14920	72	71	2.25	2.25	NUM
ajfa-14920	72	72	%	%	NOUN
ajfa-14920	72	73	2.05	2.05	NUM
ajfa-14920	72	74	%	%	NOUN
ajfa-14920	72	75	1.88	1.88	NUM
ajfa-14920	72	76	%	%	NOUN
ajfa-14920	72	77	1.84	1.84	NUM
ajfa-14920	72	78	%	%	NOUN
ajfa-14920	72	79	1.90	1.90	NUM
ajfa-14920	72	80	%	%	NOUN
ajfa-14920	72	81	1.93	1.93	NUM
ajfa-14920	72	82	%	%	NOUN
ajfa-14920	72	83	private	private	ADJ
ajfa-14920	72	84	2.40	2.40	NUM
ajfa-14920	72	85	%	%	NOUN
ajfa-14920	72	86	2.33	2.33	NUM
ajfa-14920	72	87	%	%	NOUN
ajfa-14920	72	88	2.61	2.61	NUM
ajfa-14920	72	89	%	%	NOUN
ajfa-14920	72	90	2.40	2.40	NUM
ajfa-14920	72	91	%	%	NOUN
ajfa-14920	72	92	2.17	2.17	NUM
ajfa-14920	72	93	%	%	NOUN
ajfa-14920	72	94	2.17	2.17	NUM
ajfa-14920	72	95	%	%	NOUN
ajfa-14920	72	96	2.07	2.07	NUM
ajfa-14920	72	97	%	%	NOUN
ajfa-14920	72	98	2.08	2.08	NUM
ajfa-14920	72	99	%	%	NOUN
ajfa-14920	72	100	asian	asian	ADJ
ajfa-14920	72	101	journal	journal	NOUN
ajfa-14920	72	102	of	of	ADP
ajfa-14920	72	103	finance	finance	PROPN
ajfa-14920	72	104	&	&	CCONJ
ajfa-14920	72	105	accounting	accounting	PROPN
ajfa-14920	72	106	issn	issn	PROPN
ajfa-14920	72	107	1946	1946	NUM
ajfa-14920	72	108	-	-	PUNCT
ajfa-14920	72	109	052x	052x	PROPN
ajfa-14920	72	110	2019	2019	NUM
ajfa-14920	72	111	,	,	PUNCT
ajfa-14920	72	112	vol	vol	NOUN
ajfa-14920	72	113	.	.	PROPN
ajfa-14920	72	114	11	11	NUM
ajfa-14920	72	115	,	,	PUNCT
ajfa-14920	72	116	no	no	INTJ
ajfa-14920	72	117	.	.	NOUN
ajfa-14920	72	118	2	2	NUM
ajfa-14920	72	119	ajfa.macrothink.org/	ajfa.macrothink.org/	NOUN
ajfa-14920	72	120	240	240	NUM
ajfa-14920	72	121	inefficiency	inefficiency	NOUN
ajfa-14920	72	122	of	of	ADP
ajfa-14920	72	123	financial	financial	ADJ
ajfa-14920	72	124	resource	resource	NOUN
ajfa-14920	72	125	allocation	allocation	NOUN
ajfa-14920	72	126	,	,	PUNCT
ajfa-14920	72	127	and	and	CCONJ
ajfa-14920	72	128	the	the	DET
ajfa-14920	72	129	company	company	NOUN
ajfa-14920	72	130	’s	’s	PART
ajfa-14920	72	131	debt	debt	NOUN
ajfa-14920	72	132	level	level	NOUN
ajfa-14920	72	133	is	be	AUX
ajfa-14920	72	134	significantly	significantly	ADV
ajfa-14920	72	135	negatively	negatively	ADV
ajfa-14920	72	136	correlated	correlate	VERB
ajfa-14920	72	137	with	with	ADP
ajfa-14920	72	138	corporate	corporate	ADJ
ajfa-14920	72	139	performance	performance	NOUN
ajfa-14920	72	140	.	.	PUNCT
ajfa-14920	73	1	zhang	zhang	PROPN
ajfa-14920	73	2	(	(	PUNCT
ajfa-14920	73	3	2004	2004	NUM
ajfa-14920	73	4	)	)	PUNCT
ajfa-14920	73	5	pointed	point	VERB
ajfa-14920	73	6	out	out	ADP
ajfa-14920	73	7	that	that	SCONJ
ajfa-14920	73	8	in	in	ADP
ajfa-14920	73	9	an	an	DET
ajfa-14920	73	10	incomplete	incomplete	ADJ
ajfa-14920	73	11	information	information	NOUN
ajfa-14920	73	12	dynamic	dynamic	ADJ
ajfa-14920	73	13	game	game	NOUN
ajfa-14920	73	14	theory	theory	NOUN
ajfa-14920	73	15	,	,	PUNCT
ajfa-14920	73	16	the	the	DET
ajfa-14920	73	17	debt	debt	NOUN
ajfa-14920	73	18	ratio	ratio	NOUN
ajfa-14920	73	19	can	can	AUX
ajfa-14920	73	20	convey	convey	VERB
ajfa-14920	73	21	the	the	DET
ajfa-14920	73	22	profit	profit	NOUN
ajfa-14920	73	23	distribution	distribution	NOUN
ajfa-14920	73	24	information	information	NOUN
ajfa-14920	73	25	to	to	ADP
ajfa-14920	73	26	investors	investor	NOUN
ajfa-14920	73	27	.	.	PUNCT
ajfa-14920	74	1	the	the	PRON
ajfa-14920	74	2	better	well	ADJ
ajfa-14920	74	3	the	the	DET
ajfa-14920	74	4	performance	performance	NOUN
ajfa-14920	74	5	,	,	PUNCT
ajfa-14920	74	6	the	the	PRON
ajfa-14920	74	7	higher	high	ADJ
ajfa-14920	74	8	the	the	DET
ajfa-14920	74	9	debt	debt	NOUN
ajfa-14920	74	10	ratio	ratio	NOUN
ajfa-14920	74	11	should	should	AUX
ajfa-14920	74	12	be	be	AUX
ajfa-14920	74	13	.	.	PUNCT
ajfa-14920	75	1	however	however	ADV
ajfa-14920	75	2	,	,	PUNCT
ajfa-14920	75	3	the	the	DET
ajfa-14920	75	4	financial	financial	ADJ
ajfa-14920	75	5	resource	resource	NOUN
ajfa-14920	75	6	allocation	allocation	NOUN
ajfa-14920	75	7	structure	structure	NOUN
ajfa-14920	75	8	of	of	ADP
ajfa-14920	75	9	some	some	DET
ajfa-14920	75	10	listed	list	VERB
ajfa-14920	75	11	companies	company	NOUN
ajfa-14920	75	12	in	in	ADP
ajfa-14920	75	13	china	china	PROPN
ajfa-14920	75	14	is	be	AUX
ajfa-14920	75	15	contrary	contrary	ADJ
ajfa-14920	75	16	to	to	ADP
ajfa-14920	75	17	the	the	DET
ajfa-14920	75	18	operational	operational	ADJ
ajfa-14920	75	19	efficiency	efficiency	NOUN
ajfa-14920	75	20	.	.	PUNCT
ajfa-14920	76	1	wen	wen	PROPN
ajfa-14920	76	2	(	(	PUNCT
ajfa-14920	76	3	2014	2014	NUM
ajfa-14920	76	4	)	)	PUNCT
ajfa-14920	76	5	pointed	point	VERB
ajfa-14920	76	6	out	out	ADP
ajfa-14920	76	7	that	that	SCONJ
ajfa-14920	76	8	for	for	ADP
ajfa-14920	76	9	chinese	chinese	ADJ
ajfa-14920	76	10	enterprises	enterprise	NOUN
ajfa-14920	76	11	,	,	PUNCT
ajfa-14920	76	12	the	the	DET
ajfa-14920	76	13	financial	financial	ADJ
ajfa-14920	76	14	mismatch	mismatch	NOUN
ajfa-14920	76	15	will	will	AUX
ajfa-14920	76	16	greatly	greatly	ADV
ajfa-14920	76	17	affect	affect	VERB
ajfa-14920	76	18	the	the	DET
ajfa-14920	76	19	performance	performance	NOUN
ajfa-14920	76	20	of	of	ADP
ajfa-14920	76	21	enterprises	enterprise	NOUN
ajfa-14920	76	22	,	,	PUNCT
ajfa-14920	76	23	and	and	CCONJ
ajfa-14920	76	24	this	this	DET
ajfa-14920	76	25	negative	negative	ADJ
ajfa-14920	76	26	effect	effect	NOUN
ajfa-14920	76	27	will	will	AUX
ajfa-14920	76	28	not	not	PART
ajfa-14920	76	29	only	only	ADV
ajfa-14920	76	30	be	be	AUX
ajfa-14920	76	31	reflected	reflect	VERB
ajfa-14920	76	32	in	in	ADP
ajfa-14920	76	33	the	the	DET
ajfa-14920	76	34	current	current	ADJ
ajfa-14920	76	35	period	period	NOUN
ajfa-14920	76	36	,	,	PUNCT
ajfa-14920	76	37	but	but	CCONJ
ajfa-14920	76	38	also	also	ADV
ajfa-14920	76	39	in	in	ADP
ajfa-14920	76	40	the	the	DET
ajfa-14920	76	41	later	later	ADV
ajfa-14920	76	42	developing	develop	VERB
ajfa-14920	76	43	period	period	NOUN
ajfa-14920	76	44	.	.	PUNCT
ajfa-14920	77	1	for	for	ADP
ajfa-14920	77	2	the	the	DET
ajfa-14920	77	3	intensity	intensity	NOUN
ajfa-14920	77	4	of	of	ADP
ajfa-14920	77	5	the	the	DET
ajfa-14920	77	6	research	research	NOUN
ajfa-14920	77	7	and	and	CCONJ
ajfa-14920	77	8	development	development	NOUN
ajfa-14920	77	9	,	,	PUNCT
ajfa-14920	77	10	a	a	DET
ajfa-14920	77	11	large	large	ADJ
ajfa-14920	77	12	amount	amount	NOUN
ajfa-14920	77	13	of	of	ADP
ajfa-14920	77	14	resources	resource	NOUN
ajfa-14920	77	15	invested	invest	VERB
ajfa-14920	77	16	will	will	AUX
ajfa-14920	77	17	affect	affect	VERB
ajfa-14920	77	18	the	the	DET
ajfa-14920	77	19	performance	performance	NOUN
ajfa-14920	77	20	improvement	improvement	NOUN
ajfa-14920	77	21	,	,	PUNCT
ajfa-14920	77	22	and	and	CCONJ
ajfa-14920	77	23	the	the	DET
ajfa-14920	77	24	results	result	NOUN
ajfa-14920	77	25	will	will	AUX
ajfa-14920	77	26	be	be	AUX
ajfa-14920	77	27	difficult	difficult	ADJ
ajfa-14920	77	28	to	to	PART
ajfa-14920	77	29	work	work	VERB
ajfa-14920	77	30	at	at	ADP
ajfa-14920	77	31	the	the	DET
ajfa-14920	77	32	present	present	ADJ
ajfa-14920	77	33	stage	stage	NOUN
ajfa-14920	77	34	.	.	PUNCT
ajfa-14920	78	1	however	however	ADV
ajfa-14920	78	2	,	,	PUNCT
ajfa-14920	78	3	for	for	ADP
ajfa-14920	78	4	the	the	DET
ajfa-14920	78	5	later	later	ADJ
ajfa-14920	78	6	stage	stage	NOUN
ajfa-14920	78	7	,	,	PUNCT
ajfa-14920	78	8	the	the	DET
ajfa-14920	78	9	longer	long	ADJ
ajfa-14920	78	10	research	research	NOUN
ajfa-14920	78	11	time	time	NOUN
ajfa-14920	78	12	extend	extend	VERB
ajfa-14920	78	13	,	,	PUNCT
ajfa-14920	78	14	the	the	DET
ajfa-14920	78	15	greater	great	ADJ
ajfa-14920	78	16	increase	increase	NOUN
ajfa-14920	78	17	of	of	ADP
ajfa-14920	78	18	performance	performance	NOUN
ajfa-14920	78	19	come	come	VERB
ajfa-14920	78	20	from	from	ADP
ajfa-14920	78	21	research	research	NOUN
ajfa-14920	78	22	result	result	NOUN
ajfa-14920	78	23	will	will	AUX
ajfa-14920	78	24	be	be	AUX
ajfa-14920	78	25	present	present	ADJ
ajfa-14920	78	26	.	.	PUNCT
ajfa-14920	79	1	zhou	zhou	X
ajfa-14920	79	2	(	(	PUNCT
ajfa-14920	79	3	2016	2016	NUM
ajfa-14920	79	4	)	)	PUNCT
ajfa-14920	79	5	conducted	conduct	VERB
ajfa-14920	79	6	a	a	DET
ajfa-14920	79	7	comparative	comparative	ADJ
ajfa-14920	79	8	analysis	analysis	NOUN
ajfa-14920	79	9	of	of	ADP
ajfa-14920	79	10	private	private	ADJ
ajfa-14920	79	11	and	and	CCONJ
ajfa-14920	79	12	state	state	NOUN
ajfa-14920	79	13	-	-	PUNCT
ajfa-14920	79	14	owned	own	VERB
ajfa-14920	79	15	enterprises	enterprise	NOUN
ajfa-14920	79	16	.	.	PUNCT
ajfa-14920	80	1	the	the	DET
ajfa-14920	80	2	result	result	NOUN
ajfa-14920	80	3	showed	show	VERB
ajfa-14920	80	4	that	that	SCONJ
ajfa-14920	80	5	for	for	ADP
ajfa-14920	80	6	private	private	ADJ
ajfa-14920	80	7	enterprises	enterprise	NOUN
ajfa-14920	80	8	,	,	PUNCT
ajfa-14920	80	9	there	there	PRON
ajfa-14920	80	10	is	be	VERB
ajfa-14920	80	11	a	a	DET
ajfa-14920	80	12	positive	positive	ADJ
ajfa-14920	80	13	relationship	relationship	NOUN
ajfa-14920	80	14	between	between	ADP
ajfa-14920	80	15	the	the	DET
ajfa-14920	80	16	degree	degree	NOUN
ajfa-14920	80	17	of	of	ADP
ajfa-14920	80	18	mismatch	mismatch	NOUN
ajfa-14920	80	19	and	and	CCONJ
ajfa-14920	80	20	the	the	DET
ajfa-14920	80	21	rate	rate	NOUN
ajfa-14920	80	22	of	of	ADP
ajfa-14920	80	23	return	return	NOUN
ajfa-14920	80	24	on	on	ADP
ajfa-14920	80	25	capital	capital	NOUN
ajfa-14920	80	26	.	.	PUNCT
ajfa-14920	81	1	for	for	ADP
ajfa-14920	81	2	state	state	NOUN
ajfa-14920	81	3	-	-	PUNCT
ajfa-14920	81	4	owned	own	VERB
ajfa-14920	81	5	enterprises	enterprise	NOUN
ajfa-14920	81	6	,	,	PUNCT
ajfa-14920	81	7	the	the	DET
ajfa-14920	81	8	relationship	relationship	NOUN
ajfa-14920	81	9	between	between	ADP
ajfa-14920	81	10	the	the	DET
ajfa-14920	81	11	two	two	NUM
ajfa-14920	81	12	shows	show	VERB
ajfa-14920	81	13	a	a	DET
ajfa-14920	81	14	negative	negative	ADJ
ajfa-14920	81	15	correlation	correlation	NOUN
ajfa-14920	81	16	.	.	PUNCT
ajfa-14920	82	1	after	after	ADP
ajfa-14920	82	2	analyzing	analyze	VERB
ajfa-14920	82	3	the	the	DET
ajfa-14920	82	4	comparison	comparison	NOUN
ajfa-14920	82	5	of	of	ADP
ajfa-14920	82	6	the	the	DET
ajfa-14920	82	7	degree	degree	NOUN
ajfa-14920	82	8	of	of	ADP
ajfa-14920	82	9	mismatch	mismatch	NOUN
ajfa-14920	82	10	in	in	ADP
ajfa-14920	82	11	the	the	DET
ajfa-14920	82	12	past	past	ADJ
ajfa-14920	82	13	years	year	NOUN
ajfa-14920	82	14	,	,	PUNCT
ajfa-14920	82	15	it	it	PRON
ajfa-14920	82	16	argued	argue	VERB
ajfa-14920	82	17	that	that	SCONJ
ajfa-14920	82	18	the	the	DET
ajfa-14920	82	19	degree	degree	NOUN
ajfa-14920	82	20	of	of	ADP
ajfa-14920	82	21	mismatch	mismatch	NOUN
ajfa-14920	82	22	of	of	ADP
ajfa-14920	82	23	state	state	NOUN
ajfa-14920	82	24	-	-	PUNCT
ajfa-14920	82	25	owned	own	VERB
ajfa-14920	82	26	enterprises	enterprise	NOUN
ajfa-14920	82	27	is	be	AUX
ajfa-14920	82	28	higher	high	ADJ
ajfa-14920	82	29	.	.	PUNCT
ajfa-14920	83	1	lu	lu	PROPN
ajfa-14920	83	2	(	(	PUNCT
ajfa-14920	83	3	2008	2008	NUM
ajfa-14920	83	4	)	)	PUNCT
ajfa-14920	83	5	used	use	VERB
ajfa-14920	83	6	the	the	DET
ajfa-14920	83	7	ratio	ratio	NOUN
ajfa-14920	83	8	of	of	ADP
ajfa-14920	83	9	the	the	DET
ajfa-14920	83	10	total	total	ADJ
ajfa-14920	83	11	credit	credit	NOUN
ajfa-14920	83	12	of	of	ADP
ajfa-14920	83	13	the	the	DET
ajfa-14920	83	14	big	big	ADJ
ajfa-14920	83	15	four	four	NUM
ajfa-14920	83	16	state	state	NOUN
ajfa-14920	83	17	-	-	PUNCT
ajfa-14920	83	18	owned	own	VERB
ajfa-14920	83	19	banks	bank	NOUN
ajfa-14920	83	20	to	to	ADP
ajfa-14920	83	21	the	the	DET
ajfa-14920	83	22	total	total	ADJ
ajfa-14920	83	23	credit	credit	NOUN
ajfa-14920	83	24	of	of	ADP
ajfa-14920	83	25	the	the	DET
ajfa-14920	83	26	bank	bank	NOUN
ajfa-14920	83	27	and	and	CCONJ
ajfa-14920	83	28	the	the	DET
ajfa-14920	83	29	deposit	deposit	NOUN
ajfa-14920	83	30	-	-	PUNCT
ajfa-14920	83	31	loan	loan	NOUN
ajfa-14920	83	32	ratio	ratio	NOUN
ajfa-14920	83	33	of	of	ADP
ajfa-14920	83	34	the	the	DET
ajfa-14920	83	35	state	state	NOUN
ajfa-14920	83	36	-	-	PUNCT
ajfa-14920	83	37	owned	own	VERB
ajfa-14920	83	38	commercial	commercial	ADJ
ajfa-14920	83	39	banks	bank	NOUN
ajfa-14920	83	40	as	as	ADP
ajfa-14920	83	41	indicators	indicator	NOUN
ajfa-14920	83	42	to	to	PART
ajfa-14920	83	43	measure	measure	VERB
ajfa-14920	83	44	the	the	DET
ajfa-14920	83	45	financial	financial	ADJ
ajfa-14920	83	46	mismatch	mismatch	NOUN
ajfa-14920	83	47	in	in	ADP
ajfa-14920	83	48	the	the	DET
ajfa-14920	83	49	financial	financial	ADJ
ajfa-14920	83	50	system	system	NOUN
ajfa-14920	83	51	.	.	PUNCT
ajfa-14920	84	1	lu	lu	PROPN
ajfa-14920	84	2	(	(	PUNCT
ajfa-14920	84	3	2008	2008	NUM
ajfa-14920	84	4	)	)	PUNCT
ajfa-14920	84	5	concluded	conclude	VERB
ajfa-14920	84	6	that	that	SCONJ
ajfa-14920	84	7	the	the	DET
ajfa-14920	84	8	chinese	chinese	ADJ
ajfa-14920	84	9	government	government	NOUN
ajfa-14920	84	10	control	control	NOUN
ajfa-14920	84	11	finance	finance	NOUN
ajfa-14920	84	12	strictly	strictly	ADV
ajfa-14920	84	13	and	and	CCONJ
ajfa-14920	84	14	financial	financial	ADJ
ajfa-14920	84	15	mismatch	mismatch	NOUN
ajfa-14920	84	16	is	be	AUX
ajfa-14920	84	17	concentrated	concentrate	VERB
ajfa-14920	84	18	in	in	ADP
ajfa-14920	84	19	the	the	DET
ajfa-14920	84	20	problem	problem	NOUN
ajfa-14920	84	21	of	of	ADP
ajfa-14920	84	22	the	the	DET
ajfa-14920	84	23	asymmetry	asymmetry	NOUN
ajfa-14920	84	24	of	of	ADP
ajfa-14920	84	25	productivity	productivity	NOUN
ajfa-14920	84	26	and	and	CCONJ
ajfa-14920	84	27	financing	financing	NOUN
ajfa-14920	84	28	capacity	capacity	NOUN
ajfa-14920	84	29	of	of	ADP
ajfa-14920	84	30	state	state	NOUN
ajfa-14920	84	31	-	-	PUNCT
ajfa-14920	84	32	owned	own	VERB
ajfa-14920	84	33	enterprises	enterprise	NOUN
ajfa-14920	84	34	and	and	CCONJ
ajfa-14920	84	35	private	private	ADJ
ajfa-14920	84	36	enterprises	enterprise	NOUN
ajfa-14920	84	37	,	,	PUNCT
ajfa-14920	84	38	thus	thus	ADV
ajfa-14920	84	39	restraining	restrain	VERB
ajfa-14920	84	40	economic	economic	ADJ
ajfa-14920	84	41	growth	growth	NOUN
ajfa-14920	84	42	.	.	PUNCT
ajfa-14920	85	1	shao	shao	PROPN
ajfa-14920	85	2	(	(	PUNCT
ajfa-14920	85	3	2009	2009	NUM
ajfa-14920	85	4	)	)	PUNCT
ajfa-14920	85	5	studies	study	NOUN
ajfa-14920	85	6	the	the	DET
ajfa-14920	85	7	mismatch	mismatch	NOUN
ajfa-14920	85	8	of	of	ADP
ajfa-14920	85	9	financial	financial	ADJ
ajfa-14920	85	10	resources	resource	NOUN
ajfa-14920	85	11	among	among	ADP
ajfa-14920	85	12	enterprises	enterprise	NOUN
ajfa-14920	85	13	from	from	ADP
ajfa-14920	85	14	the	the	DET
ajfa-14920	85	15	perspective	perspective	NOUN
ajfa-14920	85	16	of	of	ADP
ajfa-14920	85	17	financial	financial	ADJ
ajfa-14920	85	18	structure	structure	NOUN
ajfa-14920	85	19	.	.	PUNCT
ajfa-14920	86	1	it	it	PRON
ajfa-14920	86	2	also	also	ADV
ajfa-14920	86	3	found	find	VERB
ajfa-14920	86	4	that	that	SCONJ
ajfa-14920	86	5	banks	bank	NOUN
ajfa-14920	86	6	allocate	allocate	VERB
ajfa-14920	86	7	loans	loan	NOUN
ajfa-14920	86	8	to	to	ADP
ajfa-14920	86	9	state	state	NOUN
ajfa-14920	86	10	-	-	PUNCT
ajfa-14920	86	11	owned	own	VERB
ajfa-14920	86	12	enterprises	enterprise	NOUN
ajfa-14920	86	13	at	at	ADP
ajfa-14920	86	14	a	a	DET
ajfa-14920	86	15	lower	low	ADJ
ajfa-14920	86	16	cost	cost	NOUN
ajfa-14920	86	17	and	and	CCONJ
ajfa-14920	86	18	charge	charge	VERB
ajfa-14920	86	19	higher	high	ADJ
ajfa-14920	86	20	credit	credit	NOUN
ajfa-14920	86	21	costs	cost	NOUN
ajfa-14920	86	22	to	to	ADP
ajfa-14920	86	23	non	non	ADJ
ajfa-14920	86	24	-	-	ADJ
ajfa-14920	86	25	state	state	NOUN
ajfa-14920	86	26	-	-	PUNCT
ajfa-14920	86	27	owned	own	VERB
ajfa-14920	86	28	enterprises	enterprise	NOUN
ajfa-14920	86	29	.	.	PUNCT
ajfa-14920	87	1	the	the	DET
ajfa-14920	87	2	return	return	NOUN
ajfa-14920	87	3	on	on	ADP
ajfa-14920	87	4	capital	capital	NOUN
ajfa-14920	87	5	for	for	ADP
ajfa-14920	87	6	stated	state	VERB
ajfa-14920	87	7	-	-	PUNCT
ajfa-14920	87	8	owned	own	VERB
ajfa-14920	87	9	is	be	AUX
ajfa-14920	87	10	much	much	ADV
ajfa-14920	87	11	lower	low	ADJ
ajfa-14920	87	12	than	than	ADP
ajfa-14920	87	13	that	that	PRON
ajfa-14920	87	14	of	of	ADP
ajfa-14920	87	15	non	non	ADJ
ajfa-14920	87	16	-	-	ADJ
ajfa-14920	87	17	state	state	NOUN
ajfa-14920	87	18	-	-	PUNCT
ajfa-14920	87	19	owned	own	VERB
ajfa-14920	87	20	enterprises	enterprise	NOUN
ajfa-14920	87	21	.	.	PUNCT
ajfa-14920	88	1	if	if	SCONJ
ajfa-14920	88	2	we	we	PRON
ajfa-14920	88	3	can	can	AUX
ajfa-14920	88	4	reduce	reduce	VERB
ajfa-14920	88	5	the	the	DET
ajfa-14920	88	6	mismatch	mismatch	NOUN
ajfa-14920	88	7	of	of	ADP
ajfa-14920	88	8	financial	financial	ADJ
ajfa-14920	88	9	resources	resource	NOUN
ajfa-14920	88	10	among	among	ADP
ajfa-14920	88	11	enterprises	enterprise	NOUN
ajfa-14920	88	12	,	,	PUNCT
ajfa-14920	88	13	it	it	PRON
ajfa-14920	88	14	will	will	AUX
ajfa-14920	88	15	increase	increase	VERB
ajfa-14920	88	16	gdp	gdp	NOUN
ajfa-14920	88	17	growth	growth	NOUN
ajfa-14920	88	18	by	by	ADP
ajfa-14920	88	19	2%-8	2%-8	NUM
ajfa-14920	88	20	%	%	NOUN
ajfa-14920	88	21	.	.	PUNCT
ajfa-14920	89	1	qi	qi	PROPN
ajfa-14920	89	2	(	(	PUNCT
ajfa-14920	89	3	2015	2015	NUM
ajfa-14920	89	4	)	)	PUNCT
ajfa-14920	89	5	based	base	VERB
ajfa-14920	89	6	on	on	ADP
ajfa-14920	89	7	the	the	DET
ajfa-14920	89	8	micro	micro	NOUN
ajfa-14920	89	9	-	-	NOUN
ajfa-14920	89	10	data	data	PROPN
ajfa-14920	89	11	of	of	ADP
ajfa-14920	89	12	china	china	PROPN
ajfa-14920	89	13	’s	’s	PART
ajfa-14920	89	14	manufacturing	manufacture	VERB
ajfa-14920	89	15	industrial	industrial	ADJ
ajfa-14920	89	16	enterprises	enterprise	NOUN
ajfa-14920	89	17	to	to	PART
ajfa-14920	89	18	measure	measure	VERB
ajfa-14920	89	19	the	the	DET
ajfa-14920	89	20	mismatch	mismatch	NOUN
ajfa-14920	89	21	of	of	ADP
ajfa-14920	89	22	financial	financial	ADJ
ajfa-14920	89	23	resources	resource	NOUN
ajfa-14920	89	24	,	,	PUNCT
ajfa-14920	89	25	taking	take	VERB
ajfa-14920	89	26	the	the	DET
ajfa-14920	89	27	hsieh	hsieh	PROPN
ajfa-14920	89	28	&	&	CCONJ
ajfa-14920	89	29	klenow	klenow	PROPN
ajfa-14920	89	30	(	(	PUNCT
ajfa-14920	89	31	2009	2009	NUM
ajfa-14920	89	32	)	)	PUNCT
ajfa-14920	89	33	as	as	ADP
ajfa-14920	89	34	reference	reference	NOUN
ajfa-14920	89	35	which	which	PRON
ajfa-14920	89	36	proposed	propose	VERB
ajfa-14920	89	37	interindustry	interindustry	NOUN
ajfa-14920	89	38	capital	capital	NOUN
ajfa-14920	89	39	mismatch	mismatch	NOUN
ajfa-14920	89	40	measurement	measurement	NOUN
ajfa-14920	89	41	method	method	NOUN
ajfa-14920	89	42	for	for	ADP
ajfa-14920	89	43	heterogeneous	heterogeneous	ADJ
ajfa-14920	89	44	enterprise	enterprise	NOUN
ajfa-14920	89	45	under	under	ADP
ajfa-14920	89	46	monopolistic	monopolistic	ADJ
ajfa-14920	89	47	competition	competition	NOUN
ajfa-14920	89	48	.	.	PUNCT
ajfa-14920	90	1	by	by	ADP
ajfa-14920	90	2	measuring	measure	VERB
ajfa-14920	90	3	the	the	DET
ajfa-14920	90	4	actual	actual	ADJ
ajfa-14920	90	5	productivity	productivity	NOUN
ajfa-14920	90	6	and	and	CCONJ
ajfa-14920	90	7	effective	effective	ADJ
ajfa-14920	90	8	productivity	productivity	NOUN
ajfa-14920	90	9	of	of	ADP
ajfa-14920	90	10	the	the	DET
ajfa-14920	90	11	two	two	NUM
ajfa-14920	90	12	departments	department	NOUN
ajfa-14920	90	13	of	of	ADP
ajfa-14920	90	14	the	the	DET
ajfa-14920	90	15	state	state	NOUN
ajfa-14920	90	16	-	-	PUNCT
ajfa-14920	90	17	owned	own	VERB
ajfa-14920	90	18	sector	sector	NOUN
ajfa-14920	90	19	and	and	CCONJ
ajfa-14920	90	20	the	the	DET
ajfa-14920	90	21	non	non	ADJ
ajfa-14920	90	22	-	-	ADJ
ajfa-14920	90	23	state	state	ADJ
ajfa-14920	90	24	sector	sector	NOUN
ajfa-14920	90	25	,	,	PUNCT
ajfa-14920	90	26	the	the	DET
ajfa-14920	90	27	model	model	NOUN
ajfa-14920	90	28	compares	compare	VERB
ajfa-14920	90	29	the	the	DET
ajfa-14920	90	30	loss	loss	NOUN
ajfa-14920	90	31	of	of	ADP
ajfa-14920	90	32	social	social	ADJ
ajfa-14920	90	33	total	total	ADJ
ajfa-14920	90	34	factor	factor	NOUN
ajfa-14920	90	35	productivity	productivity	NOUN
ajfa-14920	90	36	caused	cause	VERB
ajfa-14920	90	37	by	by	ADP
ajfa-14920	90	38	the	the	DET
ajfa-14920	90	39	mismatch	mismatch	NOUN
ajfa-14920	90	40	of	of	ADP
ajfa-14920	90	41	financial	financial	ADJ
ajfa-14920	90	42	resources	resource	NOUN
ajfa-14920	90	43	.	.	PUNCT
ajfa-14920	91	1	in	in	ADP
ajfa-14920	91	2	summary	summary	NOUN
ajfa-14920	91	3	,	,	PUNCT
ajfa-14920	91	4	previous	previous	ADJ
ajfa-14920	91	5	research	research	NOUN
ajfa-14920	91	6	on	on	ADP
ajfa-14920	91	7	the	the	DET
ajfa-14920	91	8	relationship	relationship	NOUN
ajfa-14920	91	9	between	between	ADP
ajfa-14920	91	10	asset	asset	NOUN
ajfa-14920	91	11	specificity	specificity	NOUN
ajfa-14920	91	12	and	and	CCONJ
ajfa-14920	91	13	capital	capital	NOUN
ajfa-14920	91	14	structure	structure	NOUN
ajfa-14920	91	15	of	of	ADP
ajfa-14920	91	16	listed	list	VERB
ajfa-14920	91	17	companies	company	NOUN
ajfa-14920	91	18	in	in	ADP
ajfa-14920	91	19	china	china	PROPN
ajfa-14920	91	20	does	do	AUX
ajfa-14920	91	21	not	not	PART
ajfa-14920	91	22	lead	lead	VERB
ajfa-14920	91	23	to	to	ADP
ajfa-14920	91	24	a	a	DET
ajfa-14920	91	25	more	more	ADV
ajfa-14920	91	26	consistent	consistent	ADJ
ajfa-14920	91	27	conclusion	conclusion	NOUN
ajfa-14920	91	28	.	.	PUNCT
ajfa-14920	92	1	as	as	ADP
ajfa-14920	92	2	a	a	DET
ajfa-14920	92	3	manifestation	manifestation	NOUN
ajfa-14920	92	4	of	of	ADP
ajfa-14920	92	5	the	the	DET
ajfa-14920	92	6	non	non	NOUN
ajfa-14920	92	7	-	-	NOUN
ajfa-14920	92	8	marketization	marketization	NOUN
ajfa-14920	92	9	of	of	ADP
ajfa-14920	92	10	financial	financial	ADJ
ajfa-14920	92	11	resources	resource	NOUN
ajfa-14920	92	12	allocation	allocation	NOUN
ajfa-14920	92	13	in	in	ADP
ajfa-14920	92	14	china	china	PROPN
ajfa-14920	92	15	,	,	PUNCT
ajfa-14920	92	16	financial	financial	ADJ
ajfa-14920	92	17	mismatch	mismatch	NOUN
ajfa-14920	92	18	widely	widely	ADV
ajfa-14920	92	19	exists	exist	VERB
ajfa-14920	92	20	.	.	PUNCT
ajfa-14920	93	1	financial	financial	ADJ
ajfa-14920	93	2	mismatch	mismatch	NOUN
ajfa-14920	93	3	not	not	PART
ajfa-14920	93	4	only	only	ADV
ajfa-14920	93	5	reduces	reduce	VERB
ajfa-14920	93	6	the	the	DET
ajfa-14920	93	7	efficiency	efficiency	NOUN
ajfa-14920	93	8	of	of	ADP
ajfa-14920	93	9	financial	financial	ADJ
ajfa-14920	93	10	resource	resource	NOUN
ajfa-14920	93	11	allocation	allocation	NOUN
ajfa-14920	93	12	,	,	PUNCT
ajfa-14920	93	13	but	but	CCONJ
ajfa-14920	93	14	also	also	ADV
ajfa-14920	93	15	causes	cause	VERB
ajfa-14920	93	16	the	the	DET
ajfa-14920	93	17	lack	lack	NOUN
ajfa-14920	93	18	of	of	ADP
ajfa-14920	93	19	governance	governance	NOUN
ajfa-14920	93	20	in	in	ADP
ajfa-14920	93	21	the	the	DET
ajfa-14920	93	22	debt	debt	NOUN
ajfa-14920	93	23	financing	financing	NOUN
ajfa-14920	93	24	market	market	NOUN
ajfa-14920	93	25	.	.	PUNCT
ajfa-14920	94	1	therefore	therefore	ADV
ajfa-14920	94	2	,	,	PUNCT
ajfa-14920	94	3	research	research	NOUN
ajfa-14920	94	4	on	on	ADP
ajfa-14920	94	5	the	the	DET
ajfa-14920	94	6	relationship	relationship	NOUN
ajfa-14920	94	7	between	between	ADP
ajfa-14920	94	8	asset	asset	NOUN
ajfa-14920	94	9	specificity	specificity	NOUN
ajfa-14920	94	10	and	and	CCONJ
ajfa-14920	94	11	capital	capital	NOUN
ajfa-14920	94	12	structure	structure	NOUN
ajfa-14920	94	13	for	for	ADP
ajfa-14920	94	14	listed	list	VERB
ajfa-14920	94	15	firms	firm	NOUN
ajfa-14920	94	16	in	in	ADP
ajfa-14920	94	17	china	china	PROPN
ajfa-14920	94	18	must	must	AUX
ajfa-14920	94	19	consider	consider	VERB
ajfa-14920	94	20	the	the	DET
ajfa-14920	94	21	impact	impact	NOUN
ajfa-14920	94	22	of	of	ADP
ajfa-14920	94	23	financial	financial	ADJ
ajfa-14920	94	24	mismatch	mismatch	NOUN
ajfa-14920	94	25	.	.	PUNCT
ajfa-14920	95	1	based	base	VERB
ajfa-14920	95	2	on	on	ADP
ajfa-14920	95	3	the	the	DET
ajfa-14920	95	4	above	above	ADJ
ajfa-14920	95	5	research	research	NOUN
ajfa-14920	95	6	,	,	PUNCT
ajfa-14920	95	7	this	this	DET
ajfa-14920	95	8	paper	paper	NOUN
ajfa-14920	95	9	proposes	propose	VERB
ajfa-14920	95	10	hypothesis	hypothesis	NOUN
ajfa-14920	95	11	1	1	NUM
ajfa-14920	95	12	,	,	PUNCT
ajfa-14920	95	13	asian	asian	ADJ
ajfa-14920	95	14	journal	journal	NOUN
ajfa-14920	95	15	of	of	ADP
ajfa-14920	95	16	finance	finance	PROPN
ajfa-14920	95	17	&	&	CCONJ
ajfa-14920	95	18	accounting	accounting	PROPN
ajfa-14920	95	19	issn	issn	PROPN
ajfa-14920	95	20	1946	1946	NUM
ajfa-14920	95	21	-	-	PUNCT
ajfa-14920	95	22	052x	052x	PROPN
ajfa-14920	95	23	2019	2019	NUM
ajfa-14920	95	24	,	,	PUNCT
ajfa-14920	95	25	vol	vol	NOUN
ajfa-14920	95	26	.	.	PROPN
ajfa-14920	95	27	11	11	NUM
ajfa-14920	95	28	,	,	PUNCT
ajfa-14920	95	29	no	no	INTJ
ajfa-14920	95	30	.	.	NOUN
ajfa-14920	95	31	2	2	NUM
ajfa-14920	95	32	ajfa.macrothink.org/	ajfa.macrothink.org/	NOUN
ajfa-14920	95	33	241	241	NUM
ajfa-14920	95	34	hypothesis	hypothesis	NOUN
ajfa-14920	95	35	1	1	NUM
ajfa-14920	95	36	,	,	PUNCT
ajfa-14920	95	37	there	there	PRON
ajfa-14920	95	38	is	be	VERB
ajfa-14920	95	39	a	a	DET
ajfa-14920	95	40	financial	financial	ADJ
ajfa-14920	95	41	mismatch	mismatch	NOUN
ajfa-14920	95	42	in	in	ADP
ajfa-14920	95	43	listed	list	VERB
ajfa-14920	95	44	companies	company	NOUN
ajfa-14920	95	45	in	in	ADP
ajfa-14920	95	46	china	china	PROPN
ajfa-14920	95	47	,	,	PUNCT
ajfa-14920	95	48	and	and	CCONJ
ajfa-14920	95	49	the	the	DET
ajfa-14920	95	50	financial	financial	ADJ
ajfa-14920	95	51	mismatch	mismatch	NOUN
ajfa-14920	95	52	phenomenon	phenomenon	NOUN
ajfa-14920	95	53	of	of	ADP
ajfa-14920	95	54	state	state	NOUN
ajfa-14920	95	55	-	-	PUNCT
ajfa-14920	95	56	owned	own	VERB
ajfa-14920	95	57	listed	list	VERB
ajfa-14920	95	58	companies	company	NOUN
ajfa-14920	95	59	is	be	AUX
ajfa-14920	95	60	more	more	ADV
ajfa-14920	95	61	significant	significant	ADJ
ajfa-14920	95	62	than	than	ADP
ajfa-14920	95	63	that	that	PRON
ajfa-14920	95	64	of	of	ADP
ajfa-14920	95	65	private	private	ADJ
ajfa-14920	95	66	listed	list	VERB
ajfa-14920	95	67	companies	company	NOUN
ajfa-14920	95	68	.	.	PUNCT
ajfa-14920	96	1	2.2	2.2	NUM
ajfa-14920	96	2	asset	asset	NOUN
ajfa-14920	96	3	specificity	specificity	NOUN
ajfa-14920	96	4	and	and	CCONJ
ajfa-14920	96	5	capital	capital	NOUN
ajfa-14920	96	6	structure	structure	NOUN
ajfa-14920	96	7	previous	previous	ADJ
ajfa-14920	96	8	research	research	NOUN
ajfa-14920	96	9	on	on	ADP
ajfa-14920	96	10	the	the	DET
ajfa-14920	96	11	relationship	relationship	NOUN
ajfa-14920	96	12	between	between	ADP
ajfa-14920	96	13	asset	asset	NOUN
ajfa-14920	96	14	specificity	specificity	NOUN
ajfa-14920	96	15	and	and	CCONJ
ajfa-14920	96	16	capital	capital	NOUN
ajfa-14920	96	17	structure	structure	NOUN
ajfa-14920	96	18	is	be	AUX
ajfa-14920	96	19	basically	basically	ADV
ajfa-14920	96	20	carried	carry	VERB
ajfa-14920	96	21	out	out	ADP
ajfa-14920	96	22	within	within	ADP
ajfa-14920	96	23	the	the	DET
ajfa-14920	96	24	framework	framework	NOUN
ajfa-14920	96	25	of	of	ADP
ajfa-14920	96	26	transaction	transaction	NOUN
ajfa-14920	96	27	cost	cost	NOUN
ajfa-14920	96	28	economics	economic	NOUN
ajfa-14920	96	29	,	,	PUNCT
ajfa-14920	96	30	relatively	relatively	ADV
ajfa-14920	96	31	consistent	consistent	ADJ
ajfa-14920	96	32	conclusions	conclusion	NOUN
ajfa-14920	96	33	have	have	AUX
ajfa-14920	96	34	been	be	AUX
ajfa-14920	96	35	reached	reach	VERB
ajfa-14920	96	36	.	.	PUNCT
ajfa-14920	97	1	balakrishnan	balakrishnan	PROPN
ajfa-14920	97	2	and	and	CCONJ
ajfa-14920	97	3	fox	fox	PROPN
ajfa-14920	97	4	(	(	PUNCT
ajfa-14920	97	5	1993	1993	NUM
ajfa-14920	97	6	)	)	PUNCT
ajfa-14920	97	7	measured	measure	VERB
ajfa-14920	97	8	asset	asset	NOUN
ajfa-14920	97	9	specificity	specificity	NOUN
ajfa-14920	97	10	by	by	ADP
ajfa-14920	97	11	the	the	DET
ajfa-14920	97	12	ratio	ratio	NOUN
ajfa-14920	97	13	of	of	ADP
ajfa-14920	97	14	the	the	DET
ajfa-14920	97	15	sum	sum	NOUN
ajfa-14920	97	16	of	of	ADP
ajfa-14920	97	17	advertising	advertising	NOUN
ajfa-14920	97	18	costs	cost	NOUN
ajfa-14920	97	19	and	and	CCONJ
ajfa-14920	97	20	research	research	NOUN
ajfa-14920	97	21	and	and	CCONJ
ajfa-14920	97	22	development	development	NOUN
ajfa-14920	97	23	expenses	expense	NOUN
ajfa-14920	97	24	to	to	ADP
ajfa-14920	97	25	revenue	revenue	NOUN
ajfa-14920	97	26	.	.	PUNCT
ajfa-14920	98	1	the	the	DET
ajfa-14920	98	2	study	study	NOUN
ajfa-14920	98	3	found	find	VERB
ajfa-14920	98	4	that	that	SCONJ
ajfa-14920	98	5	there	there	PRON
ajfa-14920	98	6	is	be	VERB
ajfa-14920	98	7	a	a	DET
ajfa-14920	98	8	significant	significant	ADJ
ajfa-14920	98	9	negative	negative	ADJ
ajfa-14920	98	10	correlation	correlation	NOUN
ajfa-14920	98	11	between	between	ADP
ajfa-14920	98	12	the	the	DET
ajfa-14920	98	13	two	two	NUM
ajfa-14920	98	14	.	.	PUNCT
ajfa-14920	99	1	different	different	ADJ
ajfa-14920	99	2	previous	previous	ADJ
ajfa-14920	99	3	research	research	NOUN
ajfa-14920	99	4	measures	measure	NOUN
ajfa-14920	99	5	asset	asset	NOUN
ajfa-14920	99	6	specificity	specificity	NOUN
ajfa-14920	99	7	in	in	ADP
ajfa-14920	99	8	different	different	ADJ
ajfa-14920	99	9	ways	way	NOUN
ajfa-14920	99	10	,	,	PUNCT
ajfa-14920	99	11	including	include	VERB
ajfa-14920	99	12	asset	asset	NOUN
ajfa-14920	99	13	specificity	specificity	NOUN
ajfa-14920	99	14	index	index	NOUN
ajfa-14920	99	15	,	,	PUNCT
ajfa-14920	99	16	ratio	ratio	NOUN
ajfa-14920	99	17	of	of	ADP
ajfa-14920	99	18	government	government	NOUN
ajfa-14920	99	19	sales	sale	NOUN
ajfa-14920	99	20	revenue	revenue	NOUN
ajfa-14920	99	21	to	to	PART
ajfa-14920	99	22	total	total	ADJ
ajfa-14920	99	23	revenue	revenue	NOUN
ajfa-14920	99	24	,	,	PUNCT
ajfa-14920	99	25	or	or	CCONJ
ajfa-14920	99	26	ratio	ratio	NOUN
ajfa-14920	99	27	of	of	ADP
ajfa-14920	99	28	advertising	advertising	NOUN
ajfa-14920	99	29	expenditure	expenditure	NOUN
ajfa-14920	99	30	to	to	ADP
ajfa-14920	99	31	total	total	ADJ
ajfa-14920	99	32	revenue	revenue	NOUN
ajfa-14920	99	33	.	.	PUNCT
ajfa-14920	100	1	previous	previous	ADJ
ajfa-14920	100	2	research	research	NOUN
ajfa-14920	100	3	has	have	AUX
ajfa-14920	100	4	generally	generally	ADV
ajfa-14920	100	5	obtained	obtain	VERB
ajfa-14920	100	6	consistent	consistent	ADJ
ajfa-14920	100	7	conclusion	conclusion	NOUN
ajfa-14920	100	8	that	that	SCONJ
ajfa-14920	100	9	asset	asset	NOUN
ajfa-14920	100	10	specificity	specificity	NOUN
ajfa-14920	100	11	is	be	AUX
ajfa-14920	100	12	inversely	inversely	ADV
ajfa-14920	100	13	related	relate	VERB
ajfa-14920	100	14	to	to	ADP
ajfa-14920	100	15	debt	debt	NOUN
ajfa-14920	100	16	financing	financing	NOUN
ajfa-14920	100	17	(	(	PUNCT
ajfa-14920	100	18	cushing	cushing	NOUN
ajfa-14920	100	19	and	and	CCONJ
ajfa-14920	100	20	mccart	mccart	NOUN
ajfa-14920	100	21	,	,	PUNCT
ajfa-14920	100	22	1996	1996	NUM
ajfa-14920	100	23	;	;	PUNCT
ajfa-14920	100	24	mocnik	mocnik	NOUN
ajfa-14920	100	25	,	,	PUNCT
ajfa-14920	100	26	2001	2001	NUM
ajfa-14920	100	27	;	;	PUNCT
ajfa-14920	100	28	miknler	miknler	NOUN
ajfa-14920	100	29	and	and	CCONJ
ajfa-14920	100	30	vilasusoh	vilasusoh	NOUN
ajfa-14920	100	31	,	,	PUNCT
ajfa-14920	100	32	2001	2001	NUM
ajfa-14920	100	33	)	)	PUNCT
ajfa-14920	100	34	.	.	PUNCT
ajfa-14920	101	1	however	however	ADV
ajfa-14920	101	2	,	,	PUNCT
ajfa-14920	101	3	empirical	empirical	ADJ
ajfa-14920	101	4	findings	finding	NOUN
ajfa-14920	101	5	on	on	ADP
ajfa-14920	101	6	the	the	DET
ajfa-14920	101	7	relationship	relationship	NOUN
ajfa-14920	101	8	between	between	ADP
ajfa-14920	101	9	asset	asset	NOUN
ajfa-14920	101	10	specificity	specificity	NOUN
ajfa-14920	101	11	and	and	CCONJ
ajfa-14920	101	12	capital	capital	NOUN
ajfa-14920	101	13	structure	structure	NOUN
ajfa-14920	101	14	in	in	ADP
ajfa-14920	101	15	china	china	PROPN
ajfa-14920	101	16	are	be	AUX
ajfa-14920	101	17	inconsistent	inconsistent	ADJ
ajfa-14920	101	18	.	.	PUNCT
ajfa-14920	102	1	qian	qian	PROPN
ajfa-14920	102	2	et	et	PROPN
ajfa-14920	102	3	al	al	PROPN
ajfa-14920	102	4	.	.	PROPN
ajfa-14920	103	1	(	(	PUNCT
ajfa-14920	103	2	2002	2002	NUM
ajfa-14920	103	3	)	)	PUNCT
ajfa-14920	103	4	use	use	VERB
ajfa-14920	103	5	questionnaire	questionnaire	NOUN
ajfa-14920	103	6	survey	survey	NOUN
ajfa-14920	103	7	of	of	ADP
ajfa-14920	103	8	selected	select	VERB
ajfa-14920	103	9	companies	company	NOUN
ajfa-14920	103	10	as	as	ADP
ajfa-14920	103	11	the	the	DET
ajfa-14920	103	12	research	research	NOUN
ajfa-14920	103	13	method	method	NOUN
ajfa-14920	103	14	and	and	CCONJ
ajfa-14920	103	15	mainly	mainly	ADV
ajfa-14920	103	16	focus	focus	VERB
ajfa-14920	103	17	on	on	ADP
ajfa-14920	103	18	shanghai	shanghai	PROPN
ajfa-14920	103	19	manufacturing	manufacturing	NOUN
ajfa-14920	103	20	industry	industry	NOUN
ajfa-14920	103	21	,	,	PUNCT
ajfa-14920	103	22	when	when	SCONJ
ajfa-14920	103	23	they	they	PRON
ajfa-14920	103	24	are	be	AUX
ajfa-14920	103	25	studying	study	VERB
ajfa-14920	103	26	the	the	DET
ajfa-14920	103	27	specificity	specificity	NOUN
ajfa-14920	103	28	of	of	ADP
ajfa-14920	103	29	assets	asset	NOUN
ajfa-14920	103	30	and	and	CCONJ
ajfa-14920	103	31	the	the	DET
ajfa-14920	103	32	internal	internal	ADJ
ajfa-14920	103	33	capital	capital	NOUN
ajfa-14920	103	34	structure	structure	NOUN
ajfa-14920	103	35	of	of	ADP
ajfa-14920	103	36	enterprises	enterprise	NOUN
ajfa-14920	103	37	.	.	PUNCT
ajfa-14920	104	1	they	they	PRON
ajfa-14920	104	2	investigated	investigate	VERB
ajfa-14920	104	3	the	the	DET
ajfa-14920	104	4	financial	financial	ADJ
ajfa-14920	104	5	data	datum	NOUN
ajfa-14920	104	6	of	of	ADP
ajfa-14920	104	7	these	these	DET
ajfa-14920	104	8	enterprises	enterprise	NOUN
ajfa-14920	104	9	from	from	ADP
ajfa-14920	104	10	1992	1992	NUM
ajfa-14920	104	11	to	to	ADP
ajfa-14920	104	12	1999	1999	NUM
ajfa-14920	104	13	.	.	PUNCT
ajfa-14920	105	1	the	the	DET
ajfa-14920	105	2	survey	survey	NOUN
ajfa-14920	105	3	results	result	NOUN
ajfa-14920	105	4	showed	show	VERB
ajfa-14920	105	5	that	that	SCONJ
ajfa-14920	105	6	the	the	DET
ajfa-14920	105	7	company	company	NOUN
ajfa-14920	105	8	’s	’s	PART
ajfa-14920	105	9	debt	debt	NOUN
ajfa-14920	105	10	ratio	ratio	NOUN
ajfa-14920	105	11	will	will	AUX
ajfa-14920	105	12	fluctuate	fluctuate	VERB
ajfa-14920	105	13	with	with	ADP
ajfa-14920	105	14	the	the	DET
ajfa-14920	105	15	change	change	NOUN
ajfa-14920	105	16	of	of	ADP
ajfa-14920	105	17	asset	asset	NOUN
ajfa-14920	105	18	specificity	specificity	NOUN
ajfa-14920	105	19	,	,	PUNCT
ajfa-14920	105	20	and	and	CCONJ
ajfa-14920	105	21	the	the	DET
ajfa-14920	105	22	two	two	NUM
ajfa-14920	105	23	are	be	AUX
ajfa-14920	105	24	positively	positively	ADV
ajfa-14920	105	25	correlated	correlate	VERB
ajfa-14920	105	26	.	.	PUNCT
ajfa-14920	106	1	this	this	PRON
ajfa-14920	106	2	is	be	AUX
ajfa-14920	106	3	contrary	contrary	ADJ
ajfa-14920	106	4	to	to	ADP
ajfa-14920	106	5	the	the	DET
ajfa-14920	106	6	research	research	NOUN
ajfa-14920	106	7	conclusions	conclusion	NOUN
ajfa-14920	106	8	of	of	ADP
ajfa-14920	106	9	scholars	scholar	NOUN
ajfa-14920	106	10	outside	outside	ADP
ajfa-14920	106	11	china	china	PROPN
ajfa-14920	106	12	.	.	PUNCT
ajfa-14920	107	1	liu	liu	PROPN
ajfa-14920	107	2	et	et	PROPN
ajfa-14920	107	3	al(2003	al(2003	NOUN
ajfa-14920	107	4	)	)	PUNCT
ajfa-14920	107	5	discuss	discuss	VERB
ajfa-14920	107	6	the	the	DET
ajfa-14920	107	7	ratio	ratio	NOUN
ajfa-14920	107	8	of	of	ADP
ajfa-14920	107	9	asset	asset	NOUN
ajfa-14920	107	10	specificity	specificity	NOUN
ajfa-14920	107	11	to	to	ADP
ajfa-14920	107	12	internal	internal	ADJ
ajfa-14920	107	13	capital	capital	NOUN
ajfa-14920	107	14	formation	formation	NOUN
ajfa-14920	107	15	.	.	PUNCT
ajfa-14920	108	1	they	they	PRON
ajfa-14920	108	2	combine	combine	VERB
ajfa-14920	108	3	existing	exist	VERB
ajfa-14920	108	4	related	related	ADJ
ajfa-14920	108	5	academic	academic	ADJ
ajfa-14920	108	6	achievements	achievement	NOUN
ajfa-14920	108	7	and	and	CCONJ
ajfa-14920	108	8	relevant	relevant	ADJ
ajfa-14920	108	9	field	field	NOUN
ajfa-14920	108	10	expertise	expertise	NOUN
ajfa-14920	108	11	to	to	PART
ajfa-14920	108	12	explore	explore	VERB
ajfa-14920	108	13	whether	whether	SCONJ
ajfa-14920	108	14	the	the	DET
ajfa-14920	108	15	company	company	NOUN
ajfa-14920	108	16	’s	’s	PART
ajfa-14920	108	17	internal	internal	ADJ
ajfa-14920	108	18	capital	capital	NOUN
ajfa-14920	108	19	formation	formation	NOUN
ajfa-14920	108	20	ratio	ratio	NOUN
ajfa-14920	108	21	will	will	AUX
ajfa-14920	108	22	be	be	AUX
ajfa-14920	108	23	affected	affect	VERB
ajfa-14920	108	24	by	by	ADP
ajfa-14920	108	25	the	the	DET
ajfa-14920	108	26	proportion	proportion	NOUN
ajfa-14920	108	27	of	of	ADP
ajfa-14920	108	28	specific	specific	ADJ
ajfa-14920	108	29	assets	asset	NOUN
ajfa-14920	108	30	.	.	PUNCT
ajfa-14920	109	1	the	the	DET
ajfa-14920	109	2	final	final	ADJ
ajfa-14920	109	3	research	research	NOUN
ajfa-14920	109	4	results	result	NOUN
ajfa-14920	109	5	show	show	VERB
ajfa-14920	109	6	that	that	SCONJ
ajfa-14920	109	7	the	the	DET
ajfa-14920	109	8	proportion	proportion	NOUN
ajfa-14920	109	9	of	of	ADP
ajfa-14920	109	10	internal	internal	ADJ
ajfa-14920	109	11	capital	capital	NOUN
ajfa-14920	109	12	formation	formation	NOUN
ajfa-14920	109	13	is	be	AUX
ajfa-14920	109	14	significantly	significantly	ADV
ajfa-14920	109	15	affected	affect	VERB
ajfa-14920	109	16	by	by	ADP
ajfa-14920	109	17	the	the	DET
ajfa-14920	109	18	proportion	proportion	NOUN
ajfa-14920	109	19	of	of	ADP
ajfa-14920	109	20	specific	specific	ADJ
ajfa-14920	109	21	assets	asset	NOUN
ajfa-14920	109	22	,	,	PUNCT
ajfa-14920	109	23	and	and	CCONJ
ajfa-14920	109	24	is	be	AUX
ajfa-14920	109	25	numerically	numerically	ADV
ajfa-14920	109	26	positively	positively	ADV
ajfa-14920	109	27	correlated	correlate	VERB
ajfa-14920	109	28	.	.	PUNCT
ajfa-14920	110	1	wang	wang	PROPN
ajfa-14920	110	2	and	and	CCONJ
ajfa-14920	110	3	fan	fan	PROPN
ajfa-14920	110	4	(	(	PUNCT
ajfa-14920	110	5	2004	2004	NUM
ajfa-14920	110	6	)	)	PUNCT
ajfa-14920	110	7	used	use	VERB
ajfa-14920	110	8	a	a	DET
ajfa-14920	110	9	combination	combination	NOUN
ajfa-14920	110	10	of	of	ADP
ajfa-14920	110	11	theoretical	theoretical	ADJ
ajfa-14920	110	12	analysis	analysis	NOUN
ajfa-14920	110	13	and	and	CCONJ
ajfa-14920	110	14	empirical	empirical	ADJ
ajfa-14920	110	15	analysis	analysis	NOUN
ajfa-14920	110	16	when	when	SCONJ
ajfa-14920	110	17	studying	study	VERB
ajfa-14920	110	18	the	the	DET
ajfa-14920	110	19	proportion	proportion	NOUN
ajfa-14920	110	20	of	of	ADP
ajfa-14920	110	21	internal	internal	ADJ
ajfa-14920	110	22	capital	capital	NOUN
ajfa-14920	110	23	formation	formation	NOUN
ajfa-14920	110	24	in	in	ADP
ajfa-14920	110	25	enterprises	enterprise	NOUN
ajfa-14920	110	26	,	,	PUNCT
ajfa-14920	110	27	which	which	PRON
ajfa-14920	110	28	is	be	AUX
ajfa-14920	110	29	influenced	influence	VERB
ajfa-14920	110	30	by	by	ADP
ajfa-14920	110	31	the	the	DET
ajfa-14920	110	32	proportion	proportion	NOUN
ajfa-14920	110	33	of	of	ADP
ajfa-14920	110	34	specific	specific	ADJ
ajfa-14920	110	35	assets	asset	NOUN
ajfa-14920	110	36	.	.	PUNCT
ajfa-14920	111	1	their	their	PRON
ajfa-14920	111	2	theoretical	theoretical	ADJ
ajfa-14920	111	3	basis	basis	NOUN
ajfa-14920	111	4	is	be	AUX
ajfa-14920	111	5	based	base	VERB
ajfa-14920	111	6	on	on	ADP
ajfa-14920	111	7	jon	jon	PROPN
ajfa-14920	111	8	vilasusoh	vilasusoh	PROPN
ajfa-14920	111	9	and	and	CCONJ
ajfa-14920	111	10	alanson	alanson	ADJ
ajfa-14920	111	11	minkler	minkler	NOUN
ajfa-14920	111	12	(	(	PUNCT
ajfa-14920	111	13	2001	2001	NUM
ajfa-14920	111	14	)	)	PUNCT
ajfa-14920	111	15	theoretical	theoretical	ADJ
ajfa-14920	111	16	research	research	NOUN
ajfa-14920	111	17	.	.	PUNCT
ajfa-14920	112	1	then	then	ADV
ajfa-14920	112	2	,	,	PUNCT
ajfa-14920	112	3	based	base	VERB
ajfa-14920	112	4	on	on	ADP
ajfa-14920	112	5	this	this	DET
ajfa-14920	112	6	empirical	empirical	ADJ
ajfa-14920	112	7	research	research	NOUN
ajfa-14920	112	8	,	,	PUNCT
ajfa-14920	112	9	it	it	PRON
ajfa-14920	112	10	chose	choose	VERB
ajfa-14920	112	11	two	two	NUM
ajfa-14920	112	12	indicators	indicator	NOUN
ajfa-14920	112	13	to	to	PART
ajfa-14920	112	14	replace	replace	VERB
ajfa-14920	112	15	the	the	DET
ajfa-14920	112	16	proportion	proportion	NOUN
ajfa-14920	112	17	of	of	ADP
ajfa-14920	112	18	the	the	DET
ajfa-14920	112	19	specific	specific	ADJ
ajfa-14920	112	20	assets	asset	NOUN
ajfa-14920	112	21	in	in	ADP
ajfa-14920	112	22	the	the	DET
ajfa-14920	112	23	enterprise	enterprise	NOUN
ajfa-14920	112	24	assets	asset	NOUN
ajfa-14920	112	25	.	.	PUNCT
ajfa-14920	113	1	the	the	DET
ajfa-14920	113	2	two	two	NUM
ajfa-14920	113	3	variables	variable	NOUN
ajfa-14920	113	4	are	be	AUX
ajfa-14920	113	5	the	the	DET
ajfa-14920	113	6	ratio	ratio	NOUN
ajfa-14920	113	7	of	of	ADP
ajfa-14920	113	8	the	the	DET
ajfa-14920	113	9	income	income	NOUN
ajfa-14920	113	10	generated	generate	VERB
ajfa-14920	113	11	by	by	ADP
ajfa-14920	113	12	the	the	DET
ajfa-14920	113	13	main	main	ADJ
ajfa-14920	113	14	business	business	NOUN
ajfa-14920	113	15	of	of	ADP
ajfa-14920	113	16	the	the	DET
ajfa-14920	113	17	enterprise	enterprise	NOUN
ajfa-14920	113	18	to	to	ADP
ajfa-14920	113	19	the	the	DET
ajfa-14920	113	20	income	income	NOUN
ajfa-14920	113	21	generated	generate	VERB
ajfa-14920	113	22	by	by	ADP
ajfa-14920	113	23	all	all	DET
ajfa-14920	113	24	businesses	business	NOUN
ajfa-14920	113	25	and	and	CCONJ
ajfa-14920	113	26	the	the	DET
ajfa-14920	113	27	ratio	ratio	NOUN
ajfa-14920	113	28	of	of	ADP
ajfa-14920	113	29	the	the	DET
ajfa-14920	113	30	expenses	expense	NOUN
ajfa-14920	113	31	incurred	incur	VERB
ajfa-14920	113	32	by	by	ADP
ajfa-14920	113	33	the	the	DET
ajfa-14920	113	34	enterprise	enterprise	NOUN
ajfa-14920	113	35	for	for	ADP
ajfa-14920	113	36	advertising	advertising	NOUN
ajfa-14920	113	37	consumption	consumption	NOUN
ajfa-14920	113	38	to	to	ADP
ajfa-14920	113	39	the	the	DET
ajfa-14920	113	40	income	income	NOUN
ajfa-14920	113	41	generated	generate	VERB
ajfa-14920	113	42	by	by	ADP
ajfa-14920	113	43	the	the	DET
ajfa-14920	113	44	normal	normal	ADJ
ajfa-14920	113	45	business	business	NOUN
ajfa-14920	113	46	of	of	ADP
ajfa-14920	113	47	the	the	DET
ajfa-14920	113	48	company	company	NOUN
ajfa-14920	113	49	,	,	PUNCT
ajfa-14920	113	50	when	when	SCONJ
ajfa-14920	113	51	face	face	VERB
ajfa-14920	113	52	the	the	DET
ajfa-14920	113	53	question	question	NOUN
ajfa-14920	113	54	about	about	ADP
ajfa-14920	113	55	how	how	SCONJ
ajfa-14920	113	56	to	to	PART
ajfa-14920	113	57	measure	measure	VERB
ajfa-14920	113	58	the	the	DET
ajfa-14920	113	59	proportion	proportion	NOUN
ajfa-14920	113	60	of	of	ADP
ajfa-14920	113	61	the	the	DET
ajfa-14920	113	62	specific	specific	ADJ
ajfa-14920	113	63	assets	asset	NOUN
ajfa-14920	113	64	of	of	ADP
ajfa-14920	113	65	corporate	corporate	ADJ
ajfa-14920	113	66	assets	asset	NOUN
ajfa-14920	113	67	.	.	PUNCT
ajfa-14920	114	1	the	the	DET
ajfa-14920	114	2	empirical	empirical	ADJ
ajfa-14920	114	3	results	result	NOUN
ajfa-14920	114	4	of	of	ADP
ajfa-14920	114	5	their	their	PRON
ajfa-14920	114	6	research	research	NOUN
ajfa-14920	114	7	are	be	AUX
ajfa-14920	114	8	that	that	SCONJ
ajfa-14920	114	9	the	the	PRON
ajfa-14920	114	10	greater	great	ADJ
ajfa-14920	114	11	the	the	DET
ajfa-14920	114	12	proportion	proportion	NOUN
ajfa-14920	114	13	of	of	ADP
ajfa-14920	114	14	specific	specific	ADJ
ajfa-14920	114	15	assets	asset	NOUN
ajfa-14920	114	16	in	in	ADP
ajfa-14920	114	17	corporate	corporate	ADJ
ajfa-14920	114	18	assets	asset	NOUN
ajfa-14920	114	19	,	,	PUNCT
ajfa-14920	114	20	the	the	PRON
ajfa-14920	114	21	higher	high	ADJ
ajfa-14920	114	22	the	the	DET
ajfa-14920	114	23	debt	debt	NOUN
ajfa-14920	114	24	ratio	ratio	NOUN
ajfa-14920	114	25	formed	form	VERB
ajfa-14920	114	26	by	by	ADP
ajfa-14920	114	27	external	external	ADJ
ajfa-14920	114	28	borrowing	borrowing	NOUN
ajfa-14920	114	29	,	,	PUNCT
ajfa-14920	114	30	and	and	CCONJ
ajfa-14920	114	31	the	the	DET
ajfa-14920	114	32	two	two	NUM
ajfa-14920	114	33	are	be	AUX
ajfa-14920	114	34	positively	positively	ADV
ajfa-14920	114	35	correlated	correlate	VERB
ajfa-14920	114	36	.	.	PUNCT
ajfa-14920	115	1	cheng	cheng	PROPN
ajfa-14920	115	2	(	(	PUNCT
ajfa-14920	115	3	2004	2004	NUM
ajfa-14920	115	4	)	)	PUNCT
ajfa-14920	115	5	used	use	VERB
ajfa-14920	115	6	implicit	implicit	ADJ
ajfa-14920	115	7	contract	contract	NOUN
ajfa-14920	115	8	theory	theory	NOUN
ajfa-14920	115	9	to	to	PART
ajfa-14920	115	10	study	study	VERB
ajfa-14920	115	11	asset	asset	NOUN
ajfa-14920	115	12	specificity	specificity	NOUN
ajfa-14920	115	13	and	and	CCONJ
ajfa-14920	115	14	capital	capital	NOUN
ajfa-14920	115	15	structure	structure	NOUN
ajfa-14920	115	16	.	.	PUNCT
ajfa-14920	116	1	he	he	PRON
ajfa-14920	116	2	chose	choose	VERB
ajfa-14920	116	3	193	193	NUM
ajfa-14920	116	4	listed	list	VERB
ajfa-14920	116	5	companies	company	NOUN
ajfa-14920	116	6	in	in	ADP
ajfa-14920	116	7	2001	2001	NUM
ajfa-14920	116	8	as	as	ADP
ajfa-14920	116	9	the	the	DET
ajfa-14920	116	10	research	research	NOUN
ajfa-14920	116	11	object	object	NOUN
ajfa-14920	116	12	,	,	PUNCT
ajfa-14920	116	13	and	and	CCONJ
ajfa-14920	116	14	divided	divide	VERB
ajfa-14920	116	15	the	the	DET
ajfa-14920	116	16	listed	list	VERB
ajfa-14920	116	17	companies	company	NOUN
ajfa-14920	116	18	into	into	ADP
ajfa-14920	116	19	two	two	NUM
ajfa-14920	116	20	categories	category	NOUN
ajfa-14920	116	21	,	,	PUNCT
ajfa-14920	116	22	namely	namely	ADV
ajfa-14920	116	23	food	food	NOUN
ajfa-14920	116	24	items	item	NOUN
ajfa-14920	116	25	and	and	CCONJ
ajfa-14920	116	26	home	home	NOUN
ajfa-14920	116	27	appliances	appliance	NOUN
ajfa-14920	116	28	.	.	PUNCT
ajfa-14920	117	1	for	for	ADP
ajfa-14920	117	2	the	the	DET
ajfa-14920	117	3	measurement	measurement	NOUN
ajfa-14920	117	4	of	of	ADP
ajfa-14920	117	5	asset	asset	NOUN
ajfa-14920	117	6	asian	asian	ADJ
ajfa-14920	117	7	journal	journal	NOUN
ajfa-14920	117	8	of	of	ADP
ajfa-14920	117	9	finance	finance	PROPN
ajfa-14920	117	10	&	&	CCONJ
ajfa-14920	117	11	accounting	accounting	PROPN
ajfa-14920	117	12	issn	issn	PROPN
ajfa-14920	117	13	1946	1946	NUM
ajfa-14920	117	14	-	-	PUNCT
ajfa-14920	117	15	052x	052x	PROPN
ajfa-14920	117	16	2019	2019	NUM
ajfa-14920	117	17	,	,	PUNCT
ajfa-14920	117	18	vol	vol	NOUN
ajfa-14920	117	19	.	.	PROPN
ajfa-14920	117	20	11	11	NUM
ajfa-14920	117	21	,	,	PUNCT
ajfa-14920	117	22	no	no	INTJ
ajfa-14920	117	23	.	.	NOUN
ajfa-14920	117	24	2	2	NUM
ajfa-14920	117	25	ajfa.macrothink.org/	ajfa.macrothink.org/	NOUN
ajfa-14920	117	26	242	242	NUM
ajfa-14920	117	27	specificity	specificity	NOUN
ajfa-14920	117	28	,	,	PUNCT
ajfa-14920	117	29	he	he	PRON
ajfa-14920	117	30	selected	select	VERB
ajfa-14920	117	31	the	the	DET
ajfa-14920	117	32	fixed	fix	VERB
ajfa-14920	117	33	assets	asset	NOUN
ajfa-14920	117	34	/	/	SYM
ajfa-14920	117	35	total	total	ADJ
ajfa-14920	117	36	assets	asset	NOUN
ajfa-14920	117	37	,	,	PUNCT
ajfa-14920	117	38	intangible	intangible	ADJ
ajfa-14920	117	39	assets	asset	NOUN
ajfa-14920	117	40	/	/	SYM
ajfa-14920	117	41	total	total	ADJ
ajfa-14920	117	42	assets	asset	NOUN
ajfa-14920	117	43	as	as	ADP
ajfa-14920	117	44	two	two	NUM
ajfa-14920	117	45	indicators	indicator	NOUN
ajfa-14920	117	46	.	.	PUNCT
ajfa-14920	118	1	he	he	PRON
ajfa-14920	118	2	chose	choose	VERB
ajfa-14920	118	3	five	five	NUM
ajfa-14920	118	4	variables	variable	NOUN
ajfa-14920	118	5	as	as	SCONJ
ajfa-14920	118	6	the	the	DET
ajfa-14920	118	7	control	control	NOUN
ajfa-14920	118	8	variables	variable	VERB
ajfa-14920	118	9	for	for	ADP
ajfa-14920	118	10	empirical	empirical	ADJ
ajfa-14920	118	11	analysis	analysis	NOUN
ajfa-14920	118	12	considering	consider	VERB
ajfa-14920	118	13	that	that	SCONJ
ajfa-14920	118	14	the	the	DET
ajfa-14920	118	15	capital	capital	NOUN
ajfa-14920	118	16	structure	structure	NOUN
ajfa-14920	118	17	has	have	VERB
ajfa-14920	118	18	many	many	ADJ
ajfa-14920	118	19	factors	factor	NOUN
ajfa-14920	118	20	.	.	PUNCT
ajfa-14920	119	1	the	the	DET
ajfa-14920	119	2	empirical	empirical	ADJ
ajfa-14920	119	3	results	result	NOUN
ajfa-14920	119	4	showed	show	VERB
ajfa-14920	119	5	that	that	SCONJ
ajfa-14920	119	6	different	different	ADJ
ajfa-14920	119	7	industries	industry	NOUN
ajfa-14920	119	8	have	have	VERB
ajfa-14920	119	9	different	different	ADJ
ajfa-14920	119	10	effects	effect	NOUN
ajfa-14920	119	11	on	on	ADP
ajfa-14920	119	12	asset	asset	NOUN
ajfa-14920	119	13	specificity	specificity	NOUN
ajfa-14920	119	14	.	.	PUNCT
ajfa-14920	120	1	the	the	DET
ajfa-14920	120	2	effect	effect	NOUN
ajfa-14920	120	3	of	of	ADP
ajfa-14920	120	4	the	the	DET
ajfa-14920	120	5	food	food	NOUN
ajfa-14920	120	6	industry	industry	NOUN
ajfa-14920	120	7	group	group	NOUN
ajfa-14920	120	8	is	be	AUX
ajfa-14920	120	9	not	not	PART
ajfa-14920	120	10	very	very	ADV
ajfa-14920	120	11	obvious	obvious	ADJ
ajfa-14920	120	12	,	,	PUNCT
ajfa-14920	120	13	while	while	SCONJ
ajfa-14920	120	14	the	the	DET
ajfa-14920	120	15	effect	effect	NOUN
ajfa-14920	120	16	of	of	ADP
ajfa-14920	120	17	the	the	DET
ajfa-14920	120	18	home	home	NOUN
ajfa-14920	120	19	appliance	appliance	NOUN
ajfa-14920	120	20	group	group	NOUN
ajfa-14920	120	21	is	be	AUX
ajfa-14920	120	22	obvious	obvious	ADJ
ajfa-14920	120	23	,	,	PUNCT
ajfa-14920	120	24	and	and	CCONJ
ajfa-14920	120	25	the	the	DET
ajfa-14920	120	26	two	two	NUM
ajfa-14920	120	27	have	have	VERB
ajfa-14920	120	28	a	a	DET
ajfa-14920	120	29	negative	negative	ADJ
ajfa-14920	120	30	correlation	correlation	NOUN
ajfa-14920	120	31	.	.	PUNCT
ajfa-14920	121	1	yuan	yuan	NOUN
ajfa-14920	121	2	and	and	CCONJ
ajfa-14920	121	3	zhao	zhao	X
ajfa-14920	121	4	(	(	PUNCT
ajfa-14920	121	5	2006	2006	NUM
ajfa-14920	121	6	)	)	PUNCT
ajfa-14920	121	7	first	first	ADV
ajfa-14920	121	8	use	use	VERB
ajfa-14920	121	9	theoretical	theoretical	ADJ
ajfa-14920	121	10	analysis	analysis	NOUN
ajfa-14920	121	11	to	to	PART
ajfa-14920	121	12	illustrate	illustrate	VERB
ajfa-14920	121	13	,	,	PUNCT
ajfa-14920	121	14	making	make	VERB
ajfa-14920	121	15	use	use	NOUN
ajfa-14920	121	16	of	of	ADP
ajfa-14920	121	17	transaction	transaction	NOUN
ajfa-14920	121	18	cost	cost	NOUN
ajfa-14920	121	19	theory	theory	NOUN
ajfa-14920	121	20	,	,	PUNCT
ajfa-14920	121	21	and	and	CCONJ
ajfa-14920	121	22	then	then	ADV
ajfa-14920	121	23	based	base	VERB
ajfa-14920	121	24	on	on	ADP
ajfa-14920	121	25	theory	theory	NOUN
ajfa-14920	121	26	to	to	PART
ajfa-14920	121	27	conduct	conduct	VERB
ajfa-14920	121	28	an	an	DET
ajfa-14920	121	29	empirical	empirical	ADJ
ajfa-14920	121	30	analysis	analysis	NOUN
ajfa-14920	121	31	.	.	PUNCT
ajfa-14920	122	1	the	the	DET
ajfa-14920	122	2	empirical	empirical	ADJ
ajfa-14920	122	3	model	model	NOUN
ajfa-14920	122	4	mainly	mainly	ADV
ajfa-14920	122	5	draws	draw	VERB
ajfa-14920	122	6	on	on	ADP
ajfa-14920	122	7	vilasusoh	vilasusoh	NOUN
ajfa-14920	122	8	and	and	CCONJ
ajfa-14920	122	9	minkler	minkler	NOUN
ajfa-14920	122	10	(	(	PUNCT
ajfa-14920	122	11	2001	2001	NUM
ajfa-14920	122	12	)	)	PUNCT
ajfa-14920	122	13	model	model	NOUN
ajfa-14920	122	14	.	.	PUNCT
ajfa-14920	123	1	the	the	DET
ajfa-14920	123	2	model	model	NOUN
ajfa-14920	123	3	takes	take	VERB
ajfa-14920	123	4	china	china	PROPN
ajfa-14920	123	5	’s	’s	PART
ajfa-14920	123	6	a	a	DET
ajfa-14920	123	7	-	-	PUNCT
ajfa-14920	123	8	share	share	NOUN
ajfa-14920	123	9	listed	list	VERB
ajfa-14920	123	10	companies	company	NOUN
ajfa-14920	123	11	as	as	ADP
ajfa-14920	123	12	academic	academic	ADJ
ajfa-14920	123	13	research	research	NOUN
ajfa-14920	123	14	objects	object	NOUN
ajfa-14920	123	15	.	.	PUNCT
ajfa-14920	124	1	the	the	DET
ajfa-14920	124	2	empirical	empirical	ADJ
ajfa-14920	124	3	data	datum	NOUN
ajfa-14920	124	4	proves	prove	VERB
ajfa-14920	124	5	that	that	SCONJ
ajfa-14920	124	6	asset	asset	NOUN
ajfa-14920	124	7	specificity	specificity	NOUN
ajfa-14920	124	8	and	and	CCONJ
ajfa-14920	124	9	capital	capital	NOUN
ajfa-14920	124	10	structure	structure	NOUN
ajfa-14920	124	11	will	will	AUX
ajfa-14920	124	12	affect	affect	VERB
ajfa-14920	124	13	each	each	DET
ajfa-14920	124	14	other	other	ADJ
ajfa-14920	124	15	,	,	PUNCT
ajfa-14920	124	16	and	and	CCONJ
ajfa-14920	124	17	there	there	PRON
ajfa-14920	124	18	is	be	VERB
ajfa-14920	124	19	a	a	DET
ajfa-14920	124	20	numerically	numerically	ADV
ajfa-14920	124	21	proportional	proportional	ADJ
ajfa-14920	124	22	relationship	relationship	NOUN
ajfa-14920	124	23	between	between	ADP
ajfa-14920	124	24	the	the	DET
ajfa-14920	124	25	asset	asset	NOUN
ajfa-14920	124	26	specificity	specificity	NOUN
ajfa-14920	124	27	and	and	CCONJ
ajfa-14920	124	28	capital	capital	NOUN
ajfa-14920	124	29	structure	structure	NOUN
ajfa-14920	124	30	.	.	PUNCT
ajfa-14920	125	1	li	li	PROPN
ajfa-14920	125	2	et	et	PROPN
ajfa-14920	125	3	al	al	PROPN
ajfa-14920	125	4	.	.	PROPN
ajfa-14920	126	1	(	(	PUNCT
ajfa-14920	126	2	2007	2007	NUM
ajfa-14920	126	3	)	)	PUNCT
ajfa-14920	126	4	analyzed	analyze	VERB
ajfa-14920	126	5	the	the	DET
ajfa-14920	126	6	relationship	relationship	NOUN
ajfa-14920	126	7	between	between	ADP
ajfa-14920	126	8	capital	capital	NOUN
ajfa-14920	126	9	structure	structure	NOUN
ajfa-14920	126	10	and	and	CCONJ
ajfa-14920	126	11	asset	asset	NOUN
ajfa-14920	126	12	specificity	specificity	NOUN
ajfa-14920	126	13	in	in	ADP
ajfa-14920	126	14	corporate	corporate	ADJ
ajfa-14920	126	15	assets	asset	NOUN
ajfa-14920	126	16	,	,	PUNCT
ajfa-14920	126	17	adding	add	VERB
ajfa-14920	126	18	the	the	DET
ajfa-14920	126	19	analysis	analysis	NOUN
ajfa-14920	126	20	of	of	ADP
ajfa-14920	126	21	market	market	NOUN
ajfa-14920	126	22	competition	competition	NOUN
ajfa-14920	126	23	factors	factor	NOUN
ajfa-14920	126	24	.	.	PUNCT
ajfa-14920	127	1	first	first	ADV
ajfa-14920	127	2	,	,	PUNCT
ajfa-14920	127	3	the	the	DET
ajfa-14920	127	4	relationship	relationship	NOUN
ajfa-14920	127	5	among	among	ADP
ajfa-14920	127	6	capital	capital	NOUN
ajfa-14920	127	7	structure	structure	NOUN
ajfa-14920	127	8	,	,	PUNCT
ajfa-14920	127	9	asset	asset	NOUN
ajfa-14920	127	10	specificity	specificity	NOUN
ajfa-14920	127	11	in	in	ADP
ajfa-14920	127	12	corporate	corporate	ADJ
ajfa-14920	127	13	assets	asset	NOUN
ajfa-14920	127	14	and	and	CCONJ
ajfa-14920	127	15	market	market	NOUN
ajfa-14920	127	16	competition	competition	NOUN
ajfa-14920	127	17	factors	factor	NOUN
ajfa-14920	127	18	under	under	ADP
ajfa-14920	127	19	the	the	DET
ajfa-14920	127	20	perspective	perspective	NOUN
ajfa-14920	127	21	of	of	ADP
ajfa-14920	127	22	transaction	transaction	NOUN
ajfa-14920	127	23	costs	cost	NOUN
ajfa-14920	127	24	.	.	PUNCT
ajfa-14920	128	1	then	then	ADV
ajfa-14920	128	2	based	base	VERB
ajfa-14920	128	3	on	on	ADP
ajfa-14920	128	4	theoretical	theoretical	ADJ
ajfa-14920	128	5	analysis	analysis	NOUN
ajfa-14920	128	6	,	,	PUNCT
ajfa-14920	128	7	it	it	PRON
ajfa-14920	128	8	established	establish	VERB
ajfa-14920	128	9	an	an	DET
ajfa-14920	128	10	empirical	empirical	ADJ
ajfa-14920	128	11	analysis	analysis	NOUN
ajfa-14920	128	12	model	model	NOUN
ajfa-14920	128	13	.	.	PUNCT
ajfa-14920	129	1	the	the	DET
ajfa-14920	129	2	empirical	empirical	ADJ
ajfa-14920	129	3	results	result	NOUN
ajfa-14920	129	4	show	show	VERB
ajfa-14920	129	5	that	that	SCONJ
ajfa-14920	129	6	when	when	SCONJ
ajfa-14920	129	7	the	the	DET
ajfa-14920	129	8	product	product	NOUN
ajfa-14920	129	9	competition	competition	NOUN
ajfa-14920	129	10	of	of	ADP
ajfa-14920	129	11	the	the	DET
ajfa-14920	129	12	enterprise	enterprise	NOUN
ajfa-14920	129	13	increases	increase	NOUN
ajfa-14920	129	14	,	,	PUNCT
ajfa-14920	129	15	the	the	DET
ajfa-14920	129	16	financial	financial	ADJ
ajfa-14920	129	17	leverage	leverage	NOUN
ajfa-14920	129	18	will	will	AUX
ajfa-14920	129	19	increase	increase	VERB
ajfa-14920	129	20	at	at	ADP
ajfa-14920	129	21	the	the	DET
ajfa-14920	129	22	beginning	beginning	NOUN
ajfa-14920	129	23	,	,	PUNCT
ajfa-14920	129	24	but	but	CCONJ
ajfa-14920	129	25	as	as	SCONJ
ajfa-14920	129	26	the	the	DET
ajfa-14920	129	27	competition	competition	NOUN
ajfa-14920	129	28	continues	continue	VERB
ajfa-14920	129	29	to	to	PART
ajfa-14920	129	30	increase	increase	VERB
ajfa-14920	129	31	,	,	PUNCT
ajfa-14920	129	32	the	the	DET
ajfa-14920	129	33	internal	internal	ADJ
ajfa-14920	129	34	financial	financial	ADJ
ajfa-14920	129	35	leverage	leverage	NOUN
ajfa-14920	129	36	ratio	ratio	NOUN
ajfa-14920	129	37	will	will	AUX
ajfa-14920	129	38	decrease	decrease	VERB
ajfa-14920	129	39	after	after	ADP
ajfa-14920	129	40	the	the	DET
ajfa-14920	129	41	proportion	proportion	NOUN
ajfa-14920	129	42	of	of	ADP
ajfa-14920	129	43	the	the	DET
ajfa-14920	129	44	asset	asset	NOUN
ajfa-14920	129	45	specificity	specificity	NOUN
ajfa-14920	129	46	in	in	ADP
ajfa-14920	129	47	the	the	DET
ajfa-14920	129	48	enterprise	enterprise	NOUN
ajfa-14920	129	49	assets	asset	NOUN
ajfa-14920	129	50	reaching	reach	VERB
ajfa-14920	129	51	a	a	DET
ajfa-14920	129	52	certain	certain	ADJ
ajfa-14920	129	53	value	value	NOUN
ajfa-14920	129	54	.	.	PUNCT
ajfa-14920	130	1	huang	huang	PROPN
ajfa-14920	130	2	(	(	PUNCT
ajfa-14920	130	3	2008	2008	NUM
ajfa-14920	130	4	)	)	PUNCT
ajfa-14920	130	5	analyzed	analyze	VERB
ajfa-14920	130	6	the	the	DET
ajfa-14920	130	7	relationship	relationship	NOUN
ajfa-14920	130	8	between	between	ADP
ajfa-14920	130	9	asset	asset	NOUN
ajfa-14920	130	10	specificity	specificity	NOUN
ajfa-14920	130	11	and	and	CCONJ
ajfa-14920	130	12	capital	capital	NOUN
ajfa-14920	130	13	structure	structure	NOUN
ajfa-14920	130	14	,	,	PUNCT
ajfa-14920	130	15	taking	take	VERB
ajfa-14920	130	16	into	into	ADP
ajfa-14920	130	17	account	account	NOUN
ajfa-14920	130	18	the	the	DET
ajfa-14920	130	19	difficulty	difficulty	NOUN
ajfa-14920	130	20	of	of	ADP
ajfa-14920	130	21	the	the	DET
ajfa-14920	130	22	measurement	measurement	NOUN
ajfa-14920	130	23	of	of	ADP
ajfa-14920	130	24	assets	asset	NOUN
ajfa-14920	130	25	specific	specific	ADJ
ajfa-14920	130	26	indicators	indicator	NOUN
ajfa-14920	130	27	and	and	CCONJ
ajfa-14920	130	28	the	the	DET
ajfa-14920	130	29	certainty	certainty	NOUN
ajfa-14920	130	30	of	of	ADP
ajfa-14920	130	31	the	the	DET
ajfa-14920	130	32	selection	selection	NOUN
ajfa-14920	130	33	of	of	ADP
ajfa-14920	130	34	capital	capital	NOUN
ajfa-14920	130	35	structure	structure	NOUN
ajfa-14920	130	36	indicators	indicator	NOUN
ajfa-14920	130	37	.	.	PUNCT
ajfa-14920	131	1	he	he	PRON
ajfa-14920	131	2	chose	choose	VERB
ajfa-14920	131	3	the	the	DET
ajfa-14920	131	4	two	two	NUM
ajfa-14920	131	5	indexes	index	NOUN
ajfa-14920	131	6	of	of	ADP
ajfa-14920	131	7	the	the	DET
ajfa-14920	131	8	enterprise	enterprise	NOUN
ajfa-14920	131	9	to	to	PART
ajfa-14920	131	10	measure	measure	VERB
ajfa-14920	131	11	the	the	DET
ajfa-14920	131	12	degree	degree	NOUN
ajfa-14920	131	13	of	of	ADP
ajfa-14920	131	14	asset	asset	NOUN
ajfa-14920	131	15	specificity	specificity	NOUN
ajfa-14920	131	16	.	.	PUNCT
ajfa-14920	132	1	one	one	NUM
ajfa-14920	132	2	is	be	AUX
ajfa-14920	132	3	the	the	DET
ajfa-14920	132	4	income	income	NOUN
ajfa-14920	132	5	generated	generate	VERB
ajfa-14920	132	6	by	by	ADP
ajfa-14920	132	7	the	the	DET
ajfa-14920	132	8	main	main	ADJ
ajfa-14920	132	9	business	business	NOUN
ajfa-14920	132	10	accounting	accounting	NOUN
ajfa-14920	132	11	for	for	ADP
ajfa-14920	132	12	the	the	DET
ajfa-14920	132	13	proportion	proportion	NOUN
ajfa-14920	132	14	of	of	ADP
ajfa-14920	132	15	the	the	DET
ajfa-14920	132	16	total	total	ADJ
ajfa-14920	132	17	income	income	NOUN
ajfa-14920	132	18	of	of	ADP
ajfa-14920	132	19	all	all	DET
ajfa-14920	132	20	the	the	DET
ajfa-14920	132	21	business	business	NOUN
ajfa-14920	132	22	.	.	PUNCT
ajfa-14920	133	1	the	the	DET
ajfa-14920	133	2	other	other	ADJ
ajfa-14920	133	3	is	be	AUX
ajfa-14920	133	4	the	the	DET
ajfa-14920	133	5	proportion	proportion	NOUN
ajfa-14920	133	6	of	of	ADP
ajfa-14920	133	7	the	the	DET
ajfa-14920	133	8	intangible	intangible	ADJ
ajfa-14920	133	9	assets	asset	NOUN
ajfa-14920	133	10	of	of	ADP
ajfa-14920	133	11	all	all	DET
ajfa-14920	133	12	the	the	DET
ajfa-14920	133	13	assets	asset	NOUN
ajfa-14920	133	14	of	of	ADP
ajfa-14920	133	15	the	the	DET
ajfa-14920	133	16	enterprise	enterprise	NOUN
ajfa-14920	133	17	.	.	PUNCT
ajfa-14920	134	1	the	the	DET
ajfa-14920	134	2	measurement	measurement	NOUN
ajfa-14920	134	3	of	of	ADP
ajfa-14920	134	4	the	the	DET
ajfa-14920	134	5	capital	capital	NOUN
ajfa-14920	134	6	structure	structure	NOUN
ajfa-14920	134	7	index	index	NOUN
ajfa-14920	134	8	is	be	AUX
ajfa-14920	134	9	long	long	ADJ
ajfa-14920	134	10	-	-	PUNCT
ajfa-14920	134	11	term	term	NOUN
ajfa-14920	134	12	liabilities	liability	NOUN
ajfa-14920	134	13	/	/	SYM
ajfa-14920	134	14	total	total	ADJ
ajfa-14920	134	15	assets	asset	NOUN
ajfa-14920	134	16	,	,	PUNCT
ajfa-14920	134	17	total	total	ADJ
ajfa-14920	134	18	liabilities	liability	NOUN
ajfa-14920	134	19	/	/	SYM
ajfa-14920	134	20	total	total	ADJ
ajfa-14920	134	21	assets	asset	NOUN
ajfa-14920	134	22	,	,	PUNCT
ajfa-14920	134	23	and	and	CCONJ
ajfa-14920	134	24	finally	finally	ADV
ajfa-14920	134	25	the	the	DET
ajfa-14920	134	26	conclusions	conclusion	NOUN
ajfa-14920	134	27	reached	reach	VERB
ajfa-14920	134	28	by	by	ADP
ajfa-14920	134	29	the	the	DET
ajfa-14920	134	30	study	study	NOUN
ajfa-14920	134	31	are	be	AUX
ajfa-14920	134	32	consistent	consistent	ADJ
ajfa-14920	134	33	with	with	ADP
ajfa-14920	134	34	williamson	williamson	PROPN
ajfa-14920	134	35	,	,	PUNCT
ajfa-14920	134	36	that	that	ADV
ajfa-14920	134	37	is	is	ADV
ajfa-14920	134	38	,	,	PUNCT
ajfa-14920	134	39	the	the	DET
ajfa-14920	134	40	relationship	relationship	NOUN
ajfa-14920	134	41	between	between	ADP
ajfa-14920	134	42	the	the	DET
ajfa-14920	134	43	two	two	NUM
ajfa-14920	134	44	is	be	AUX
ajfa-14920	134	45	negatively	negatively	ADV
ajfa-14920	134	46	correlated	correlate	VERB
ajfa-14920	134	47	.	.	PUNCT
ajfa-14920	135	1	liu	liu	PROPN
ajfa-14920	135	2	and	and	CCONJ
ajfa-14920	135	3	sun	sun	PROPN
ajfa-14920	135	4	(	(	PUNCT
ajfa-14920	135	5	2010	2010	NUM
ajfa-14920	135	6	)	)	PUNCT
ajfa-14920	135	7	also	also	ADV
ajfa-14920	135	8	supported	support	VERB
ajfa-14920	135	9	this	this	DET
ajfa-14920	135	10	conclusion	conclusion	NOUN
ajfa-14920	135	11	.	.	PUNCT
ajfa-14920	136	1	lei	lei	X
ajfa-14920	136	2	(	(	PUNCT
ajfa-14920	136	3	2010	2010	NUM
ajfa-14920	136	4	)	)	PUNCT
ajfa-14920	136	5	studied	study	VERB
ajfa-14920	136	6	listed	list	VERB
ajfa-14920	136	7	companies	company	NOUN
ajfa-14920	136	8	in	in	ADP
ajfa-14920	136	9	the	the	DET
ajfa-14920	136	10	manufacturing	manufacturing	NOUN
ajfa-14920	136	11	industry	industry	NOUN
ajfa-14920	136	12	in	in	ADP
ajfa-14920	136	13	2005	2005	NUM
ajfa-14920	136	14	-	-	SYM
ajfa-14920	136	15	2006	2006	NUM
ajfa-14920	136	16	,	,	PUNCT
ajfa-14920	136	17	and	and	CCONJ
ajfa-14920	136	18	found	find	VERB
ajfa-14920	136	19	that	that	SCONJ
ajfa-14920	136	20	asset	asset	NOUN
ajfa-14920	136	21	specificity	specificity	NOUN
ajfa-14920	136	22	of	of	ADP
ajfa-14920	136	23	listed	list	VERB
ajfa-14920	136	24	companies	company	NOUN
ajfa-14920	136	25	in	in	ADP
ajfa-14920	136	26	china	china	PROPN
ajfa-14920	136	27	does	do	AUX
ajfa-14920	136	28	not	not	PART
ajfa-14920	136	29	affect	affect	VERB
ajfa-14920	136	30	their	their	PRON
ajfa-14920	136	31	capital	capital	NOUN
ajfa-14920	136	32	structure	structure	NOUN
ajfa-14920	136	33	.	.	PUNCT
ajfa-14920	137	1	it	it	PRON
ajfa-14920	137	2	can	can	AUX
ajfa-14920	137	3	be	be	AUX
ajfa-14920	137	4	seen	see	VERB
ajfa-14920	137	5	that	that	SCONJ
ajfa-14920	137	6	there	there	PRON
ajfa-14920	137	7	are	be	VERB
ajfa-14920	137	8	significant	significant	ADJ
ajfa-14920	137	9	differences	difference	NOUN
ajfa-14920	137	10	in	in	ADP
ajfa-14920	137	11	the	the	DET
ajfa-14920	137	12	conclusions	conclusion	NOUN
ajfa-14920	137	13	between	between	ADP
ajfa-14920	137	14	literature	literature	NOUN
ajfa-14920	137	15	on	on	ADP
ajfa-14920	137	16	the	the	DET
ajfa-14920	137	17	relationship	relationship	NOUN
ajfa-14920	137	18	of	of	ADP
ajfa-14920	137	19	asset	asset	NOUN
ajfa-14920	137	20	specificity	specificity	NOUN
ajfa-14920	137	21	and	and	CCONJ
ajfa-14920	137	22	capital	capital	NOUN
ajfa-14920	137	23	structure	structure	NOUN
ajfa-14920	137	24	.	.	PUNCT
ajfa-14920	138	1	empirical	empirical	ADJ
ajfa-14920	138	2	evidence	evidence	NOUN
ajfa-14920	138	3	found	find	VERB
ajfa-14920	138	4	in	in	ADP
ajfa-14920	138	5	western	western	ADJ
ajfa-14920	138	6	countries	country	NOUN
ajfa-14920	138	7	can	can	AUX
ajfa-14920	138	8	not	not	PART
ajfa-14920	138	9	be	be	AUX
ajfa-14920	138	10	directly	directly	ADV
ajfa-14920	138	11	applied	apply	VERB
ajfa-14920	138	12	to	to	ADP
ajfa-14920	138	13	china	china	PROPN
ajfa-14920	138	14	.	.	PUNCT
ajfa-14920	139	1	for	for	ADP
ajfa-14920	139	2	listed	list	VERB
ajfa-14920	139	3	companies	company	NOUN
ajfa-14920	139	4	in	in	ADP
ajfa-14920	139	5	china	china	PROPN
ajfa-14920	139	6	,	,	PUNCT
ajfa-14920	139	7	research	research	NOUN
ajfa-14920	139	8	on	on	ADP
ajfa-14920	139	9	the	the	DET
ajfa-14920	139	10	correlation	correlation	NOUN
ajfa-14920	139	11	between	between	ADP
ajfa-14920	139	12	asset	asset	NOUN
ajfa-14920	139	13	specificity	specificity	NOUN
ajfa-14920	139	14	and	and	CCONJ
ajfa-14920	139	15	capital	capital	NOUN
ajfa-14920	139	16	structure	structure	NOUN
ajfa-14920	139	17	must	must	AUX
ajfa-14920	139	18	take	take	VERB
ajfa-14920	139	19	into	into	ADP
ajfa-14920	139	20	account	account	NOUN
ajfa-14920	139	21	of	of	ADP
ajfa-14920	139	22	special	special	ADJ
ajfa-14920	139	23	factors	factor	NOUN
ajfa-14920	139	24	of	of	ADP
ajfa-14920	139	25	china	china	PROPN
ajfa-14920	139	26	’s	’s	PART
ajfa-14920	139	27	economic	economic	ADJ
ajfa-14920	139	28	operation	operation	NOUN
ajfa-14920	139	29	and	and	CCONJ
ajfa-14920	139	30	institutional	institutional	ADJ
ajfa-14920	139	31	background	background	NOUN
ajfa-14920	139	32	.	.	PUNCT
ajfa-14920	140	1	based	base	VERB
ajfa-14920	140	2	on	on	ADP
ajfa-14920	140	3	the	the	DET
ajfa-14920	140	4	above	above	ADJ
ajfa-14920	140	5	research	research	NOUN
ajfa-14920	140	6	,	,	PUNCT
ajfa-14920	140	7	this	this	DET
ajfa-14920	140	8	paper	paper	NOUN
ajfa-14920	140	9	proposes	propose	VERB
ajfa-14920	140	10	the	the	DET
ajfa-14920	140	11	following	follow	VERB
ajfa-14920	140	12	hypothesis	hypothesis	NOUN
ajfa-14920	140	13	,	,	PUNCT
ajfa-14920	140	14	hypothesis	hypothesis	NOUN
ajfa-14920	140	15	2a	2a	NUM
ajfa-14920	140	16	,	,	PUNCT
ajfa-14920	140	17	asset	asset	NOUN
ajfa-14920	140	18	specificity	specificity	NOUN
ajfa-14920	140	19	is	be	AUX
ajfa-14920	140	20	negatively	negatively	ADV
ajfa-14920	140	21	related	relate	VERB
ajfa-14920	140	22	to	to	ADP
ajfa-14920	140	23	a	a	DET
ajfa-14920	140	24	company	company	NOUN
ajfa-14920	140	25	’s	’s	PART
ajfa-14920	140	26	capital	capital	NOUN
ajfa-14920	140	27	structure	structure	NOUN
ajfa-14920	140	28	.	.	PUNCT
ajfa-14920	141	1	in	in	ADP
ajfa-14920	141	2	state	state	NOUN
ajfa-14920	141	3	-	-	PUNCT
ajfa-14920	141	4	owned	own	VERB
ajfa-14920	141	5	listed	list	VERB
ajfa-14920	141	6	companies	company	NOUN
ajfa-14920	141	7	,	,	PUNCT
ajfa-14920	141	8	the	the	DET
ajfa-14920	141	9	market	market	NOUN
ajfa-14920	141	10	governance	governance	NOUN
ajfa-14920	141	11	structure	structure	NOUN
ajfa-14920	141	12	of	of	ADP
ajfa-14920	141	13	debt	debt	NOUN
ajfa-14920	141	14	financing	financing	NOUN
ajfa-14920	141	15	will	will	AUX
ajfa-14920	141	16	be	be	AUX
ajfa-14920	141	17	denied	deny	VERB
ajfa-14920	141	18	,	,	PUNCT
ajfa-14920	141	19	if	if	SCONJ
ajfa-14920	141	20	financial	financial	ADJ
ajfa-14920	141	21	mismatch	mismatch	NOUN
ajfa-14920	141	22	does	do	AUX
ajfa-14920	141	23	exist	exist	VERB
ajfa-14920	141	24	.	.	PUNCT
ajfa-14920	142	1	besides	besides	SCONJ
ajfa-14920	142	2	,	,	PUNCT
ajfa-14920	142	3	financial	financial	ADJ
ajfa-14920	142	4	institutions	institution	NOUN
ajfa-14920	142	5	represented	represent	VERB
ajfa-14920	142	6	by	by	ADP
ajfa-14920	142	7	stateowned	stateowne	VERB
ajfa-14920	142	8	banks	bank	NOUN
ajfa-14920	142	9	are	be	AUX
ajfa-14920	142	10	the	the	DET
ajfa-14920	142	11	main	main	ADJ
ajfa-14920	142	12	source	source	NOUN
ajfa-14920	142	13	of	of	ADP
ajfa-14920	142	14	corporate	corporate	ADJ
ajfa-14920	142	15	debt	debt	NOUN
ajfa-14920	142	16	financing	financing	NOUN
ajfa-14920	142	17	in	in	ADP
ajfa-14920	142	18	china	china	PROPN
ajfa-14920	142	19	.	.	PUNCT
ajfa-14920	143	1	therefore	therefore	ADV
ajfa-14920	143	2	,	,	PUNCT
ajfa-14920	143	3	in	in	ADP
ajfa-14920	143	4	the	the	DET
ajfa-14920	143	5	debt	debt	NOUN
ajfa-14920	143	6	financing	financing	NOUN
ajfa-14920	143	7	contract	contract	NOUN
ajfa-14920	143	8	of	of	ADP
ajfa-14920	143	9	state	state	NOUN
ajfa-14920	143	10	-	-	PUNCT
ajfa-14920	143	11	owned	own	VERB
ajfa-14920	143	12	enterprises	enterprise	NOUN
ajfa-14920	143	13	,	,	PUNCT
ajfa-14920	143	14	due	due	ADP
ajfa-14920	143	15	to	to	ADP
ajfa-14920	143	16	the	the	DET
ajfa-14920	143	17	high	high	ADJ
ajfa-14920	143	18	consistency	consistency	NOUN
ajfa-14920	143	19	of	of	ADP
ajfa-14920	143	20	the	the	DET
ajfa-14920	143	21	nature	nature	NOUN
ajfa-14920	143	22	of	of	ADP
ajfa-14920	143	23	asian	asian	ADJ
ajfa-14920	143	24	journal	journal	NOUN
ajfa-14920	143	25	of	of	ADP
ajfa-14920	143	26	finance	finance	PROPN
ajfa-14920	143	27	&	&	CCONJ
ajfa-14920	143	28	accounting	accounting	PROPN
ajfa-14920	143	29	issn	issn	PROPN
ajfa-14920	143	30	1946	1946	NUM
ajfa-14920	143	31	-	-	PUNCT
ajfa-14920	143	32	052x	052x	PROPN
ajfa-14920	143	33	2019	2019	NUM
ajfa-14920	143	34	,	,	PUNCT
ajfa-14920	143	35	vol	vol	NOUN
ajfa-14920	143	36	.	.	PROPN
ajfa-14920	143	37	11	11	NUM
ajfa-14920	143	38	,	,	PUNCT
ajfa-14920	143	39	no	no	INTJ
ajfa-14920	143	40	.	.	NOUN
ajfa-14920	143	41	2	2	NUM
ajfa-14920	143	42	ajfa.macrothink.org/	ajfa.macrothink.org/	NOUN
ajfa-14920	143	43	243	243	NUM
ajfa-14920	143	44	ownership	ownership	NOUN
ajfa-14920	143	45	for	for	ADP
ajfa-14920	143	46	both	both	DET
ajfa-14920	143	47	sides	side	NOUN
ajfa-14920	143	48	,	,	PUNCT
ajfa-14920	143	49	debt	debt	NOUN
ajfa-14920	143	50	financing	financing	NOUN
ajfa-14920	143	51	has	have	AUX
ajfa-14920	143	52	evolved	evolve	VERB
ajfa-14920	143	53	into	into	ADP
ajfa-14920	143	54	an	an	DET
ajfa-14920	143	55	internal	internal	ADJ
ajfa-14920	143	56	contract	contract	NOUN
ajfa-14920	143	57	with	with	ADP
ajfa-14920	143	58	a	a	DET
ajfa-14920	143	59	lower	low	ADJ
ajfa-14920	143	60	cost	cost	NOUN
ajfa-14920	143	61	than	than	ADP
ajfa-14920	143	62	the	the	DET
ajfa-14920	143	63	equity	equity	NOUN
ajfa-14920	143	64	financing	financing	NOUN
ajfa-14920	143	65	contract	contract	NOUN
ajfa-14920	143	66	,	,	PUNCT
ajfa-14920	143	67	and	and	CCONJ
ajfa-14920	143	68	becomes	become	VERB
ajfa-14920	143	69	a	a	DET
ajfa-14920	143	70	bureaucratic	bureaucratic	ADJ
ajfa-14920	143	71	governance	governance	NOUN
ajfa-14920	143	72	structure	structure	NOUN
ajfa-14920	143	73	.	.	PUNCT
ajfa-14920	144	1	to	to	PART
ajfa-14920	144	2	save	save	VERB
ajfa-14920	144	3	transaction	transaction	NOUN
ajfa-14920	144	4	costs	cost	NOUN
ajfa-14920	144	5	,	,	PUNCT
ajfa-14920	144	6	state	state	NOUN
ajfa-14920	144	7	-	-	PUNCT
ajfa-14920	144	8	owned	own	VERB
ajfa-14920	144	9	listed	list	VERB
ajfa-14920	144	10	companies	company	NOUN
ajfa-14920	144	11	with	with	ADP
ajfa-14920	144	12	high	high	ADJ
ajfa-14920	144	13	asset	asset	NOUN
ajfa-14920	144	14	specificity	specificity	NOUN
ajfa-14920	144	15	will	will	AUX
ajfa-14920	144	16	choose	choose	VERB
ajfa-14920	144	17	debt	debt	NOUN
ajfa-14920	144	18	financing	financing	NOUN
ajfa-14920	144	19	.	.	PUNCT
ajfa-14920	145	1	while	while	SCONJ
ajfa-14920	145	2	the	the	DET
ajfa-14920	145	3	situation	situation	NOUN
ajfa-14920	145	4	of	of	ADP
ajfa-14920	145	5	private	private	ADJ
ajfa-14920	145	6	listed	list	VERB
ajfa-14920	145	7	companies	company	NOUN
ajfa-14920	145	8	is	be	AUX
ajfa-14920	145	9	different	different	ADJ
ajfa-14920	145	10	from	from	ADP
ajfa-14920	145	11	that	that	PRON
ajfa-14920	145	12	of	of	ADP
ajfa-14920	145	13	state	state	NOUN
ajfa-14920	145	14	-	-	PUNCT
ajfa-14920	145	15	owned	own	VERB
ajfa-14920	145	16	listed	list	VERB
ajfa-14920	145	17	companies	company	NOUN
ajfa-14920	145	18	,	,	PUNCT
ajfa-14920	145	19	on	on	ADP
ajfa-14920	145	20	the	the	DET
ajfa-14920	145	21	one	one	NUM
ajfa-14920	145	22	hand	hand	NOUN
ajfa-14920	145	23	,	,	PUNCT
ajfa-14920	145	24	the	the	DET
ajfa-14920	145	25	high	high	ADJ
ajfa-14920	145	26	asset	asset	NOUN
ajfa-14920	145	27	specificity	specificity	NOUN
ajfa-14920	145	28	level	level	NOUN
ajfa-14920	145	29	will	will	AUX
ajfa-14920	145	30	increase	increase	VERB
ajfa-14920	145	31	the	the	DET
ajfa-14920	145	32	risk	risk	NOUN
ajfa-14920	145	33	of	of	ADP
ajfa-14920	145	34	huge	huge	ADJ
ajfa-14920	145	35	potential	potential	ADJ
ajfa-14920	145	36	loss	loss	NOUN
ajfa-14920	145	37	of	of	ADP
ajfa-14920	145	38	realized	realize	VERB
ajfa-14920	145	39	value	value	NOUN
ajfa-14920	145	40	,	,	PUNCT
ajfa-14920	145	41	which	which	PRON
ajfa-14920	145	42	makes	make	VERB
ajfa-14920	145	43	it	it	PRON
ajfa-14920	145	44	difficult	difficult	ADJ
ajfa-14920	145	45	to	to	PART
ajfa-14920	145	46	obtain	obtain	VERB
ajfa-14920	145	47	credit	credit	NOUN
ajfa-14920	145	48	capital	capital	NOUN
ajfa-14920	145	49	.	.	PUNCT
ajfa-14920	146	1	on	on	ADP
ajfa-14920	146	2	the	the	DET
ajfa-14920	146	3	other	other	ADJ
ajfa-14920	146	4	hand	hand	NOUN
ajfa-14920	146	5	,	,	PUNCT
ajfa-14920	146	6	because	because	SCONJ
ajfa-14920	146	7	debt	debt	NOUN
ajfa-14920	146	8	financing	financing	NOUN
ajfa-14920	146	9	may	may	AUX
ajfa-14920	146	10	still	still	ADV
ajfa-14920	146	11	have	have	VERB
ajfa-14920	146	12	market	market	NOUN
ajfa-14920	146	13	governance	governance	NOUN
ajfa-14920	146	14	function	function	NOUN
ajfa-14920	146	15	,	,	PUNCT
ajfa-14920	146	16	the	the	DET
ajfa-14920	146	17	reverse	reverse	ADJ
ajfa-14920	146	18	adjustment	adjustment	NOUN
ajfa-14920	146	19	of	of	ADP
ajfa-14920	146	20	debt	debt	NOUN
ajfa-14920	146	21	financing	financing	NOUN
ajfa-14920	146	22	can	can	AUX
ajfa-14920	146	23	save	save	VERB
ajfa-14920	146	24	more	more	ADJ
ajfa-14920	146	25	transaction	transaction	NOUN
ajfa-14920	146	26	costs	cost	NOUN
ajfa-14920	146	27	if	if	SCONJ
ajfa-14920	146	28	the	the	DET
ajfa-14920	146	29	company	company	NOUN
ajfa-14920	146	30	has	have	VERB
ajfa-14920	146	31	a	a	DET
ajfa-14920	146	32	higher	high	ADJ
ajfa-14920	146	33	asset	asset	NOUN
ajfa-14920	146	34	specificity	specificity	NOUN
ajfa-14920	146	35	level	level	NOUN
ajfa-14920	146	36	.	.	PUNCT
ajfa-14920	147	1	therefore	therefore	ADV
ajfa-14920	147	2	,	,	PUNCT
ajfa-14920	147	3	the	the	DET
ajfa-14920	147	4	following	follow	VERB
ajfa-14920	147	5	hypothesis	hypothesis	NOUN
ajfa-14920	147	6	is	be	AUX
ajfa-14920	147	7	made	make	VERB
ajfa-14920	147	8	,	,	PUNCT
ajfa-14920	147	9	hypothesis	hypothesis	NOUN
ajfa-14920	147	10	2b	2b	NOUN
ajfa-14920	147	11	,	,	PUNCT
ajfa-14920	147	12	among	among	ADP
ajfa-14920	147	13	state	state	NOUN
ajfa-14920	147	14	-	-	PUNCT
ajfa-14920	147	15	owned	own	VERB
ajfa-14920	147	16	listed	list	VERB
ajfa-14920	147	17	companies	company	NOUN
ajfa-14920	147	18	,	,	PUNCT
ajfa-14920	147	19	asset	asset	NOUN
ajfa-14920	147	20	specificity	specificity	NOUN
ajfa-14920	147	21	is	be	AUX
ajfa-14920	147	22	positively	positively	ADV
ajfa-14920	147	23	related	relate	VERB
ajfa-14920	147	24	to	to	ADP
ajfa-14920	147	25	the	the	DET
ajfa-14920	147	26	company	company	NOUN
ajfa-14920	147	27	’s	’s	PART
ajfa-14920	147	28	capital	capital	NOUN
ajfa-14920	147	29	structure	structure	NOUN
ajfa-14920	147	30	.	.	PUNCT
ajfa-14920	148	1	hypothesis	hypothesis	NOUN
ajfa-14920	148	2	2c	2c	NUM
ajfa-14920	148	3	,	,	PUNCT
ajfa-14920	148	4	in	in	ADP
ajfa-14920	148	5	private	private	ADJ
ajfa-14920	148	6	listed	list	VERB
ajfa-14920	148	7	companies	company	NOUN
ajfa-14920	148	8	,	,	PUNCT
ajfa-14920	148	9	asset	asset	NOUN
ajfa-14920	148	10	specificity	specificity	NOUN
ajfa-14920	148	11	is	be	AUX
ajfa-14920	148	12	negatively	negatively	ADV
ajfa-14920	148	13	related	relate	VERB
ajfa-14920	148	14	to	to	ADP
ajfa-14920	148	15	the	the	DET
ajfa-14920	148	16	company	company	NOUN
ajfa-14920	148	17	’s	’s	PART
ajfa-14920	148	18	capital	capital	NOUN
ajfa-14920	148	19	structure	structure	NOUN
ajfa-14920	148	20	.	.	PUNCT
ajfa-14920	149	1	2.3	2.3	NUM
ajfa-14920	149	2	factors	factor	NOUN
ajfa-14920	149	3	affecting	affect	VERB
ajfa-14920	149	4	corporate	corporate	ADJ
ajfa-14920	149	5	performance	performance	NOUN
ajfa-14920	149	6	shen	shen	NOUN
ajfa-14920	149	7	(	(	PUNCT
ajfa-14920	149	8	2010	2010	NUM
ajfa-14920	149	9	)	)	PUNCT
ajfa-14920	149	10	conducted	conduct	VERB
ajfa-14920	149	11	an	an	DET
ajfa-14920	149	12	analysis	analysis	NOUN
ajfa-14920	149	13	of	of	ADP
ajfa-14920	149	14	the	the	DET
ajfa-14920	149	15	factors	factor	NOUN
ajfa-14920	149	16	affecting	affect	VERB
ajfa-14920	149	17	corporate	corporate	ADJ
ajfa-14920	149	18	performance	performance	NOUN
ajfa-14920	149	19	,	,	PUNCT
ajfa-14920	149	20	from	from	ADP
ajfa-14920	149	21	the	the	DET
ajfa-14920	149	22	perspective	perspective	NOUN
ajfa-14920	149	23	of	of	ADP
ajfa-14920	149	24	corporate	corporate	ADJ
ajfa-14920	149	25	financing	financing	NOUN
ajfa-14920	149	26	structure	structure	NOUN
ajfa-14920	149	27	,	,	PUNCT
ajfa-14920	149	28	and	and	CCONJ
ajfa-14920	149	29	concluded	conclude	VERB
ajfa-14920	149	30	that	that	SCONJ
ajfa-14920	149	31	the	the	DET
ajfa-14920	149	32	existence	existence	NOUN
ajfa-14920	149	33	of	of	ADP
ajfa-14920	149	34	long	long	ADJ
ajfa-14920	149	35	-	-	PUNCT
ajfa-14920	149	36	term	term	NOUN
ajfa-14920	149	37	debt	debt	NOUN
ajfa-14920	149	38	will	will	AUX
ajfa-14920	149	39	affect	affect	VERB
ajfa-14920	149	40	enterprise	enterprise	NOUN
ajfa-14920	149	41	performance	performance	NOUN
ajfa-14920	149	42	.	.	PUNCT
ajfa-14920	150	1	the	the	DET
ajfa-14920	150	2	long	long	ADJ
ajfa-14920	150	3	-	-	PUNCT
ajfa-14920	150	4	term	term	NOUN
ajfa-14920	150	5	debt	debt	NOUN
ajfa-14920	150	6	and	and	CCONJ
ajfa-14920	150	7	the	the	DET
ajfa-14920	150	8	enterprise	enterprise	NOUN
ajfa-14920	150	9	performance	performance	NOUN
ajfa-14920	150	10	are	be	AUX
ajfa-14920	150	11	negatively	negatively	ADV
ajfa-14920	150	12	correlated	correlate	VERB
ajfa-14920	150	13	.	.	PUNCT
ajfa-14920	151	1	the	the	DET
ajfa-14920	151	2	relationship	relationship	NOUN
ajfa-14920	151	3	between	between	ADP
ajfa-14920	151	4	the	the	DET
ajfa-14920	151	5	bank	bank	NOUN
ajfa-14920	151	6	loans	loan	NOUN
ajfa-14920	151	7	and	and	CCONJ
ajfa-14920	151	8	the	the	DET
ajfa-14920	151	9	performance	performance	NOUN
ajfa-14920	151	10	of	of	ADP
ajfa-14920	151	11	enterprises	enterprise	NOUN
ajfa-14920	151	12	is	be	AUX
ajfa-14920	151	13	also	also	ADV
ajfa-14920	151	14	negative	negative	ADJ
ajfa-14920	151	15	.	.	PUNCT
ajfa-14920	152	1	at	at	ADP
ajfa-14920	152	2	the	the	DET
ajfa-14920	152	3	same	same	ADJ
ajfa-14920	152	4	time	time	NOUN
ajfa-14920	152	5	,	,	PUNCT
ajfa-14920	152	6	the	the	PRON
ajfa-14920	152	7	greater	great	ADJ
ajfa-14920	152	8	the	the	DET
ajfa-14920	152	9	size	size	NOUN
ajfa-14920	152	10	of	of	ADP
ajfa-14920	152	11	bond	bond	NOUN
ajfa-14920	152	12	financing	financing	NOUN
ajfa-14920	152	13	,	,	PUNCT
ajfa-14920	152	14	the	the	DET
ajfa-14920	152	15	more	more	ADV
ajfa-14920	152	16	obvious	obvious	ADJ
ajfa-14920	152	17	the	the	DET
ajfa-14920	152	18	improvement	improvement	NOUN
ajfa-14920	152	19	of	of	ADP
ajfa-14920	152	20	corporate	corporate	ADJ
ajfa-14920	152	21	performance	performance	NOUN
ajfa-14920	152	22	.	.	PUNCT
ajfa-14920	153	1	ren	ren	NOUN
ajfa-14920	153	2	(	(	PUNCT
ajfa-14920	153	3	2011	2011	NUM
ajfa-14920	153	4	)	)	PUNCT
ajfa-14920	153	5	chose	choose	VERB
ajfa-14920	153	6	to	to	PART
ajfa-14920	153	7	conduct	conduct	VERB
ajfa-14920	153	8	analysis	analysis	NOUN
ajfa-14920	153	9	from	from	ADP
ajfa-14920	153	10	various	various	ADJ
ajfa-14920	153	11	aspects	aspect	NOUN
ajfa-14920	153	12	simultaneously	simultaneously	ADV
ajfa-14920	153	13	,	,	PUNCT
ajfa-14920	153	14	when	when	SCONJ
ajfa-14920	153	15	analyzing	analyze	VERB
ajfa-14920	153	16	the	the	DET
ajfa-14920	153	17	factors	factor	NOUN
ajfa-14920	153	18	affecting	affect	VERB
ajfa-14920	153	19	enterprise	enterprise	NOUN
ajfa-14920	153	20	performance	performance	NOUN
ajfa-14920	153	21	.	.	PUNCT
ajfa-14920	154	1	the	the	DET
ajfa-14920	154	2	result	result	NOUN
ajfa-14920	154	3	is	be	AUX
ajfa-14920	154	4	that	that	SCONJ
ajfa-14920	154	5	the	the	DET
ajfa-14920	154	6	factors	factor	NOUN
ajfa-14920	154	7	inhibit	inhibit	VERB
ajfa-14920	154	8	the	the	DET
ajfa-14920	154	9	performance	performance	NOUN
ajfa-14920	154	10	of	of	ADP
ajfa-14920	154	11	the	the	DET
ajfa-14920	154	12	company	company	NOUN
ajfa-14920	154	13	include	include	VERB
ajfa-14920	154	14	the	the	DET
ajfa-14920	154	15	intensity	intensity	NOUN
ajfa-14920	154	16	of	of	ADP
ajfa-14920	154	17	board	board	NOUN
ajfa-14920	154	18	meetings	meeting	NOUN
ajfa-14920	154	19	and	and	CCONJ
ajfa-14920	154	20	state	state	NOUN
ajfa-14920	154	21	-	-	PUNCT
ajfa-14920	154	22	owned	own	VERB
ajfa-14920	154	23	holdings	holding	NOUN
ajfa-14920	154	24	.	.	PUNCT
ajfa-14920	155	1	the	the	DET
ajfa-14920	155	2	managerial	managerial	ADJ
ajfa-14920	155	3	equity	equity	NOUN
ajfa-14920	155	4	incentive	incentive	NOUN
ajfa-14920	155	5	is	be	AUX
ajfa-14920	155	6	a	a	DET
ajfa-14920	155	7	factor	factor	NOUN
ajfa-14920	155	8	which	which	PRON
ajfa-14920	155	9	can	can	AUX
ajfa-14920	155	10	promote	promote	VERB
ajfa-14920	155	11	the	the	DET
ajfa-14920	155	12	performance	performance	NOUN
ajfa-14920	155	13	of	of	ADP
ajfa-14920	155	14	enterprises	enterprise	NOUN
ajfa-14920	155	15	.	.	PUNCT
ajfa-14920	156	1	however	however	ADV
ajfa-14920	156	2	,	,	PUNCT
ajfa-14920	156	3	the	the	DET
ajfa-14920	156	4	institutional	institutional	ADJ
ajfa-14920	156	5	investors	investor	NOUN
ajfa-14920	156	6	and	and	CCONJ
ajfa-14920	156	7	independent	independent	ADJ
ajfa-14920	156	8	directors	director	NOUN
ajfa-14920	156	9	are	be	AUX
ajfa-14920	156	10	factors	factor	NOUN
ajfa-14920	156	11	which	which	PRON
ajfa-14920	156	12	not	not	PART
ajfa-14920	156	13	have	have	VERB
ajfa-14920	156	14	an	an	DET
ajfa-14920	156	15	influence	influence	NOUN
ajfa-14920	156	16	on	on	ADP
ajfa-14920	156	17	business	business	NOUN
ajfa-14920	156	18	performance	performance	NOUN
ajfa-14920	156	19	.	.	PUNCT
ajfa-14920	157	1	zhou	zhou	PROPN
ajfa-14920	157	2	(	(	PUNCT
ajfa-14920	157	3	2013	2013	NUM
ajfa-14920	157	4	)	)	PUNCT
ajfa-14920	157	5	pointed	point	VERB
ajfa-14920	157	6	out	out	ADP
ajfa-14920	157	7	that	that	SCONJ
ajfa-14920	157	8	the	the	DET
ajfa-14920	157	9	external	external	ADJ
ajfa-14920	157	10	governance	governance	NOUN
ajfa-14920	157	11	environment	environment	NOUN
ajfa-14920	157	12	is	be	AUX
ajfa-14920	157	13	an	an	DET
ajfa-14920	157	14	important	important	ADJ
ajfa-14920	157	15	factor	factor	NOUN
ajfa-14920	157	16	affecting	affect	VERB
ajfa-14920	157	17	the	the	DET
ajfa-14920	157	18	performance	performance	NOUN
ajfa-14920	157	19	of	of	ADP
ajfa-14920	157	20	enterprises	enterprise	NOUN
ajfa-14920	157	21	.	.	PUNCT
ajfa-14920	158	1	with	with	ADP
ajfa-14920	158	2	the	the	DET
ajfa-14920	158	3	improvement	improvement	NOUN
ajfa-14920	158	4	of	of	ADP
ajfa-14920	158	5	the	the	DET
ajfa-14920	158	6	external	external	ADJ
ajfa-14920	158	7	governance	governance	NOUN
ajfa-14920	158	8	environment	environment	NOUN
ajfa-14920	158	9	,	,	PUNCT
ajfa-14920	158	10	the	the	DET
ajfa-14920	158	11	improvement	improvement	NOUN
ajfa-14920	158	12	of	of	ADP
ajfa-14920	158	13	enterprise	enterprise	NOUN
ajfa-14920	158	14	performance	performance	NOUN
ajfa-14920	158	15	is	be	AUX
ajfa-14920	158	16	more	more	ADV
ajfa-14920	158	17	obvious	obvious	ADJ
ajfa-14920	158	18	,	,	PUNCT
ajfa-14920	158	19	and	and	CCONJ
ajfa-14920	158	20	if	if	SCONJ
ajfa-14920	158	21	the	the	DET
ajfa-14920	158	22	government	government	NOUN
ajfa-14920	158	23	has	have	VERB
ajfa-14920	158	24	excessive	excessive	ADJ
ajfa-14920	158	25	government	government	NOUN
ajfa-14920	158	26	involvement	involvement	NOUN
ajfa-14920	158	27	,	,	PUNCT
ajfa-14920	158	28	it	it	PRON
ajfa-14920	158	29	will	will	AUX
ajfa-14920	158	30	have	have	VERB
ajfa-14920	158	31	a	a	DET
ajfa-14920	158	32	serious	serious	ADJ
ajfa-14920	158	33	impact	impact	NOUN
ajfa-14920	158	34	on	on	ADP
ajfa-14920	158	35	business	business	NOUN
ajfa-14920	158	36	performance	performance	NOUN
ajfa-14920	158	37	.	.	PUNCT
ajfa-14920	159	1	mao	mao	PROPN
ajfa-14920	160	1	and	and	CCONJ
ajfa-14920	160	2	yang	yang	PROPN
ajfa-14920	160	3	(	(	PUNCT
ajfa-14920	160	4	2014	2014	NUM
ajfa-14920	160	5	)	)	PUNCT
ajfa-14920	160	6	selected	select	VERB
ajfa-14920	160	7	a	a	DET
ajfa-14920	160	8	-	-	PUNCT
ajfa-14920	160	9	share	share	NOUN
ajfa-14920	160	10	listed	list	VERB
ajfa-14920	160	11	companies	company	NOUN
ajfa-14920	160	12	during	during	ADP
ajfa-14920	160	13	the	the	DET
ajfa-14920	160	14	research	research	NOUN
ajfa-14920	160	15	.	.	PUNCT
ajfa-14920	161	1	the	the	DET
ajfa-14920	161	2	results	result	NOUN
ajfa-14920	161	3	show	show	VERB
ajfa-14920	161	4	that	that	SCONJ
ajfa-14920	161	5	as	as	ADP
ajfa-14920	161	6	the	the	DET
ajfa-14920	161	7	concentration	concentration	NOUN
ajfa-14920	161	8	of	of	ADP
ajfa-14920	161	9	the	the	DET
ajfa-14920	161	10	company	company	NOUN
ajfa-14920	161	11	’s	’s	PART
ajfa-14920	161	12	equity	equity	NOUN
ajfa-14920	161	13	increases	increase	NOUN
ajfa-14920	161	14	,	,	PUNCT
ajfa-14920	161	15	the	the	DET
ajfa-14920	161	16	relationship	relationship	NOUN
ajfa-14920	161	17	between	between	ADP
ajfa-14920	161	18	the	the	DET
ajfa-14920	161	19	actual	actual	ADJ
ajfa-14920	161	20	controller	controller	NOUN
ajfa-14920	161	21	’s	’s	PART
ajfa-14920	161	22	interests	interest	NOUN
ajfa-14920	161	23	and	and	CCONJ
ajfa-14920	161	24	the	the	DET
ajfa-14920	161	25	company	company	NOUN
ajfa-14920	161	26	’s	’s	PART
ajfa-14920	161	27	interests	interest	NOUN
ajfa-14920	161	28	will	will	AUX
ajfa-14920	161	29	be	be	AUX
ajfa-14920	161	30	stronger	strong	ADJ
ajfa-14920	161	31	.	.	PUNCT
ajfa-14920	162	1	the	the	DET
ajfa-14920	162	2	actual	actual	ADJ
ajfa-14920	162	3	controller	controller	NOUN
ajfa-14920	162	4	makes	make	VERB
ajfa-14920	162	5	efforts	effort	NOUN
ajfa-14920	162	6	to	to	PART
ajfa-14920	162	7	better	well	ADV
ajfa-14920	162	8	manage	manage	VERB
ajfa-14920	162	9	the	the	DET
ajfa-14920	162	10	business	business	NOUN
ajfa-14920	162	11	.	.	PUNCT
ajfa-14920	163	1	therefore	therefore	ADV
ajfa-14920	163	2	,	,	PUNCT
ajfa-14920	163	3	equity	equity	NOUN
ajfa-14920	163	4	concentration	concentration	NOUN
ajfa-14920	163	5	will	will	AUX
ajfa-14920	163	6	positively	positively	ADV
ajfa-14920	163	7	affect	affect	VERB
ajfa-14920	163	8	the	the	DET
ajfa-14920	163	9	company	company	NOUN
ajfa-14920	163	10	’s	’s	PART
ajfa-14920	163	11	performance	performance	NOUN
ajfa-14920	163	12	.	.	PUNCT
ajfa-14920	164	1	wei	wei	PROPN
ajfa-14920	164	2	(	(	PUNCT
ajfa-14920	164	3	2014	2014	NUM
ajfa-14920	164	4	)	)	PUNCT
ajfa-14920	164	5	analyzed	analyze	VERB
ajfa-14920	164	6	the	the	DET
ajfa-14920	164	7	relationship	relationship	NOUN
ajfa-14920	164	8	between	between	ADP
ajfa-14920	164	9	financing	financing	NOUN
ajfa-14920	164	10	scale	scale	NOUN
ajfa-14920	164	11	and	and	CCONJ
ajfa-14920	164	12	performance	performance	NOUN
ajfa-14920	164	13	from	from	ADP
ajfa-14920	164	14	the	the	DET
ajfa-14920	164	15	perspective	perspective	NOUN
ajfa-14920	164	16	of	of	ADP
ajfa-14920	164	17	various	various	ADJ
ajfa-14920	164	18	financing	financing	NOUN
ajfa-14920	164	19	methods	method	NOUN
ajfa-14920	164	20	.	.	PUNCT
ajfa-14920	165	1	the	the	DET
ajfa-14920	165	2	results	result	NOUN
ajfa-14920	165	3	showed	show	VERB
ajfa-14920	165	4	that	that	SCONJ
ajfa-14920	165	5	different	different	ADJ
ajfa-14920	165	6	financing	financing	NOUN
ajfa-14920	165	7	methods	method	NOUN
ajfa-14920	165	8	asian	asian	ADJ
ajfa-14920	165	9	journal	journal	NOUN
ajfa-14920	165	10	of	of	ADP
ajfa-14920	165	11	finance	finance	PROPN
ajfa-14920	165	12	&	&	CCONJ
ajfa-14920	165	13	accounting	accounting	PROPN
ajfa-14920	165	14	issn	issn	PROPN
ajfa-14920	165	15	1946	1946	NUM
ajfa-14920	165	16	-	-	PUNCT
ajfa-14920	165	17	052x	052x	PROPN
ajfa-14920	165	18	2019	2019	NUM
ajfa-14920	165	19	,	,	PUNCT
ajfa-14920	165	20	vol	vol	NOUN
ajfa-14920	165	21	.	.	PROPN
ajfa-14920	165	22	11	11	NUM
ajfa-14920	165	23	,	,	PUNCT
ajfa-14920	165	24	no	no	INTJ
ajfa-14920	165	25	.	.	NOUN
ajfa-14920	165	26	2	2	NUM
ajfa-14920	165	27	ajfa.macrothink.org/	ajfa.macrothink.org/	NOUN
ajfa-14920	165	28	244	244	NUM
ajfa-14920	165	29	have	have	VERB
ajfa-14920	165	30	various	various	ADJ
ajfa-14920	165	31	impact	impact	NOUN
ajfa-14920	165	32	.	.	PUNCT
ajfa-14920	166	1	but	but	CCONJ
ajfa-14920	166	2	this	this	PRON
ajfa-14920	166	3	can	can	AUX
ajfa-14920	166	4	not	not	PART
ajfa-14920	166	5	obtain	obtain	VERB
ajfa-14920	166	6	the	the	DET
ajfa-14920	166	7	good	good	ADJ
ajfa-14920	166	8	or	or	CCONJ
ajfa-14920	166	9	bad	bad	ADJ
ajfa-14920	166	10	result	result	NOUN
ajfa-14920	166	11	of	of	ADP
ajfa-14920	166	12	contrast	contrast	NOUN
ajfa-14920	166	13	.	.	PUNCT
ajfa-14920	167	1	thus	thus	ADV
ajfa-14920	167	2	,	,	PUNCT
ajfa-14920	167	3	how	how	SCONJ
ajfa-14920	167	4	to	to	PART
ajfa-14920	167	5	choose	choose	VERB
ajfa-14920	167	6	the	the	DET
ajfa-14920	167	7	financing	financing	NOUN
ajfa-14920	167	8	method	method	NOUN
ajfa-14920	167	9	should	should	AUX
ajfa-14920	167	10	also	also	ADV
ajfa-14920	167	11	be	be	AUX
ajfa-14920	167	12	based	base	VERB
ajfa-14920	167	13	on	on	ADP
ajfa-14920	167	14	the	the	DET
ajfa-14920	167	15	actual	actual	ADJ
ajfa-14920	167	16	situation	situation	NOUN
ajfa-14920	167	17	of	of	ADP
ajfa-14920	167	18	the	the	DET
ajfa-14920	167	19	enterprise	enterprise	NOUN
ajfa-14920	167	20	.	.	PUNCT
ajfa-14920	168	1	cheng	cheng	PROPN
ajfa-14920	168	2	et	et	PROPN
ajfa-14920	168	3	al	al	PROPN
ajfa-14920	168	4	.	.	PROPN
ajfa-14920	169	1	(	(	PUNCT
ajfa-14920	169	2	2015	2015	NUM
ajfa-14920	169	3	)	)	PUNCT
ajfa-14920	169	4	pointed	point	VERB
ajfa-14920	169	5	out	out	ADP
ajfa-14920	169	6	that	that	SCONJ
ajfa-14920	169	7	if	if	SCONJ
ajfa-14920	169	8	a	a	DET
ajfa-14920	169	9	company	company	NOUN
ajfa-14920	169	10	has	have	VERB
ajfa-14920	169	11	a	a	DET
ajfa-14920	169	12	high	high	ADJ
ajfa-14920	169	13	degree	degree	NOUN
ajfa-14920	169	14	of	of	ADP
ajfa-14920	169	15	financial	financial	ADJ
ajfa-14920	169	16	resource	resource	NOUN
ajfa-14920	169	17	mismatch	mismatch	NOUN
ajfa-14920	169	18	,	,	PUNCT
ajfa-14920	169	19	it	it	PRON
ajfa-14920	169	20	will	will	AUX
ajfa-14920	169	21	not	not	PART
ajfa-14920	169	22	be	be	AUX
ajfa-14920	169	23	able	able	ADJ
ajfa-14920	169	24	to	to	PART
ajfa-14920	169	25	invest	invest	VERB
ajfa-14920	169	26	more	more	ADJ
ajfa-14920	169	27	resources	resource	NOUN
ajfa-14920	169	28	in	in	ADP
ajfa-14920	169	29	research	research	NOUN
ajfa-14920	169	30	and	and	CCONJ
ajfa-14920	169	31	development	development	NOUN
ajfa-14920	169	32	,	,	PUNCT
ajfa-14920	169	33	so	so	SCONJ
ajfa-14920	169	34	it	it	PRON
ajfa-14920	169	35	will	will	AUX
ajfa-14920	169	36	lead	lead	VERB
ajfa-14920	169	37	to	to	ADP
ajfa-14920	169	38	a	a	DET
ajfa-14920	169	39	continuous	continuous	ADJ
ajfa-14920	169	40	decline	decline	NOUN
ajfa-14920	169	41	in	in	ADP
ajfa-14920	169	42	corporate	corporate	ADJ
ajfa-14920	169	43	performance	performance	NOUN
ajfa-14920	169	44	.	.	PUNCT
ajfa-14920	170	1	methodology	methodology	NOUN
ajfa-14920	170	2	and	and	CCONJ
ajfa-14920	170	3	empirical	empirical	ADJ
ajfa-14920	170	4	research	research	NOUN
ajfa-14920	170	5	design	design	NOUN
ajfa-14920	170	6	3.1	3.1	NUM
ajfa-14920	170	7	data	datum	NOUN
ajfa-14920	170	8	source	source	NOUN
ajfa-14920	170	9	and	and	CCONJ
ajfa-14920	170	10	sample	sample	NOUN
ajfa-14920	170	11	selection	selection	NOUN
ajfa-14920	170	12	the	the	DET
ajfa-14920	170	13	data	datum	NOUN
ajfa-14920	170	14	are	be	AUX
ajfa-14920	170	15	gathered	gather	VERB
ajfa-14920	170	16	from	from	ADP
ajfa-14920	170	17	wind	wind	NOUN
ajfa-14920	170	18	database	database	NOUN
ajfa-14920	170	19	.	.	PUNCT
ajfa-14920	171	1	data	datum	NOUN
ajfa-14920	171	2	of	of	ADP
ajfa-14920	171	3	state	state	NOUN
ajfa-14920	171	4	-	-	PUNCT
ajfa-14920	171	5	owned	own	VERB
ajfa-14920	171	6	listed	list	VERB
ajfa-14920	171	7	companies	company	NOUN
ajfa-14920	171	8	and	and	CCONJ
ajfa-14920	171	9	private	private	ADJ
ajfa-14920	171	10	listed	list	VERB
ajfa-14920	171	11	companies	company	NOUN
ajfa-14920	171	12	on	on	ADP
ajfa-14920	171	13	a	a	DET
ajfa-14920	171	14	-	-	PUNCT
ajfa-14920	171	15	share	share	NOUN
ajfa-14920	171	16	of	of	ADP
ajfa-14920	171	17	shanghai	shanghai	PROPN
ajfa-14920	171	18	and	and	CCONJ
ajfa-14920	171	19	shenzhen	shenzhen	PROPN
ajfa-14920	171	20	stock	stock	PROPN
ajfa-14920	171	21	exchange	exchange	PROPN
ajfa-14920	171	22	are	be	AUX
ajfa-14920	171	23	selected	select	VERB
ajfa-14920	171	24	.	.	PUNCT
ajfa-14920	172	1	this	this	DET
ajfa-14920	172	2	paper	paper	NOUN
ajfa-14920	172	3	excludes	exclude	NOUN
ajfa-14920	172	4	(	(	PUNCT
ajfa-14920	172	5	1	1	X
ajfa-14920	172	6	)	)	PUNCT
ajfa-14920	172	7	listed	list	VERB
ajfa-14920	172	8	companies	company	NOUN
ajfa-14920	172	9	in	in	ADP
ajfa-14920	172	10	the	the	DET
ajfa-14920	172	11	financial	financial	ADJ
ajfa-14920	172	12	industry	industry	NOUN
ajfa-14920	172	13	.	.	PUNCT
ajfa-14920	173	1	(	(	PUNCT
ajfa-14920	173	2	2	2	X
ajfa-14920	173	3	)	)	PUNCT
ajfa-14920	173	4	listed	list	VERB
ajfa-14920	173	5	companies	company	NOUN
ajfa-14920	173	6	with	with	ADP
ajfa-14920	173	7	missing	miss	VERB
ajfa-14920	173	8	or	or	CCONJ
ajfa-14920	173	9	imputed	impute	VERB
ajfa-14920	173	10	data	datum	NOUN
ajfa-14920	173	11	.	.	PUNCT
ajfa-14920	174	1	(	(	PUNCT
ajfa-14920	174	2	3	3	X
ajfa-14920	174	3	)	)	PUNCT
ajfa-14920	174	4	st	st	NOUN
ajfa-14920	174	5	listed	list	VERB
ajfa-14920	174	6	companies	company	NOUN
ajfa-14920	174	7	and	and	CCONJ
ajfa-14920	174	8	pt	pt	X
ajfa-14920	174	9	listed	list	VERB
ajfa-14920	174	10	companies	company	NOUN
ajfa-14920	174	11	,	,	PUNCT
ajfa-14920	174	12	if	if	SCONJ
ajfa-14920	174	13	a	a	DET
ajfa-14920	174	14	listed	list	VERB
ajfa-14920	174	15	company	company	NOUN
ajfa-14920	174	16	makes	make	VERB
ajfa-14920	174	17	loss	loss	NOUN
ajfa-14920	174	18	for	for	ADP
ajfa-14920	174	19	two	two	NUM
ajfa-14920	174	20	consecutive	consecutive	ADJ
ajfa-14920	174	21	years	year	NOUN
ajfa-14920	174	22	,	,	PUNCT
ajfa-14920	174	23	or	or	CCONJ
ajfa-14920	174	24	makes	make	VERB
ajfa-14920	174	25	loss	loss	NOUN
ajfa-14920	174	26	for	for	ADP
ajfa-14920	174	27	one	one	NUM
ajfa-14920	174	28	year	year	NOUN
ajfa-14920	174	29	,	,	PUNCT
ajfa-14920	174	30	and	and	CCONJ
ajfa-14920	174	31	the	the	DET
ajfa-14920	174	32	net	net	ADJ
ajfa-14920	174	33	assets	asset	NOUN
ajfa-14920	174	34	fall	fall	VERB
ajfa-14920	174	35	below	below	ADP
ajfa-14920	174	36	the	the	DET
ajfa-14920	174	37	face	face	NOUN
ajfa-14920	174	38	value	value	NOUN
ajfa-14920	174	39	,	,	PUNCT
ajfa-14920	174	40	or	or	CCONJ
ajfa-14920	174	41	one	one	NUM
ajfa-14920	174	42	of	of	ADP
ajfa-14920	174	43	the	the	DET
ajfa-14920	174	44	major	major	ADJ
ajfa-14920	174	45	illegal	illegal	ADJ
ajfa-14920	174	46	acts	act	NOUN
ajfa-14920	174	47	occurs	occur	VERB
ajfa-14920	174	48	during	during	ADP
ajfa-14920	174	49	the	the	DET
ajfa-14920	174	50	company	company	NOUN
ajfa-14920	174	51	’s	’s	PART
ajfa-14920	174	52	operation	operation	NOUN
ajfa-14920	174	53	,	,	PUNCT
ajfa-14920	174	54	the	the	DET
ajfa-14920	174	55	stock	stock	NOUN
ajfa-14920	174	56	exchange	exchange	NOUN
ajfa-14920	174	57	will	will	AUX
ajfa-14920	174	58	deal	deal	VERB
ajfa-14920	174	59	with	with	ADP
ajfa-14920	174	60	the	the	DET
ajfa-14920	174	61	company	company	NOUN
ajfa-14920	174	62	’s	’s	PART
ajfa-14920	174	63	stock	stock	NOUN
ajfa-14920	174	64	in	in	ADP
ajfa-14920	174	65	a	a	DET
ajfa-14920	174	66	special	special	ADJ
ajfa-14920	174	67	way	way	NOUN
ajfa-14920	174	68	,	,	PUNCT
ajfa-14920	174	69	that	that	ADV
ajfa-14920	174	70	is	is	ADV
ajfa-14920	174	71	,	,	PUNCT
ajfa-14920	174	72	the	the	DET
ajfa-14920	174	73	st	st	PROPN
ajfa-14920	174	74	system	system	NOUN
ajfa-14920	174	75	.	.	PUNCT
ajfa-14920	175	1	for	for	ADP
ajfa-14920	175	2	st	st	PROPN
ajfa-14920	175	3	companies	company	NOUN
ajfa-14920	175	4	,	,	PUNCT
ajfa-14920	175	5	if	if	SCONJ
ajfa-14920	175	6	there	there	PRON
ajfa-14920	175	7	are	be	VERB
ajfa-14920	175	8	any	any	DET
ajfa-14920	175	9	further	further	ADJ
ajfa-14920	175	10	problems	problem	NOUN
ajfa-14920	175	11	,	,	PUNCT
ajfa-14920	175	12	such	such	ADJ
ajfa-14920	175	13	as	as	ADP
ajfa-14920	175	14	continuing	continue	VERB
ajfa-14920	175	15	to	to	PART
ajfa-14920	175	16	lose	lose	VERB
ajfa-14920	175	17	money	money	NOUN
ajfa-14920	175	18	in	in	ADP
ajfa-14920	175	19	the	the	DET
ajfa-14920	175	20	next	next	ADJ
ajfa-14920	175	21	year	year	NOUN
ajfa-14920	175	22	and	and	CCONJ
ajfa-14920	175	23	meet	meet	VERB
ajfa-14920	175	24	the	the	DET
ajfa-14920	175	25	three	three	NUM
ajfa-14920	175	26	-	-	PUNCT
ajfa-14920	175	27	year	year	NOUN
ajfa-14920	175	28	loss	loss	NOUN
ajfa-14920	175	29	limit	limit	NOUN
ajfa-14920	175	30	in	in	ADP
ajfa-14920	175	31	the	the	DET
ajfa-14920	175	32	company	company	NOUN
ajfa-14920	175	33	law	law	NOUN
ajfa-14920	175	34	,	,	PUNCT
ajfa-14920	175	35	then	then	ADV
ajfa-14920	175	36	pt	pt	NOUN
ajfa-14920	175	37	processing	processing	NOUN
ajfa-14920	175	38	will	will	AUX
ajfa-14920	175	39	be	be	AUX
ajfa-14920	175	40	carried	carry	VERB
ajfa-14920	175	41	out	out	ADP
ajfa-14920	175	42	.	.	PUNCT
ajfa-14920	176	1	after	after	SCONJ
ajfa-14920	176	2	the	the	DET
ajfa-14920	176	3	screening	screening	NOUN
ajfa-14920	176	4	described	describe	VERB
ajfa-14920	176	5	above	above	ADV
ajfa-14920	176	6	,	,	PUNCT
ajfa-14920	176	7	there	there	PRON
ajfa-14920	176	8	are	be	VERB
ajfa-14920	176	9	550	550	NUM
ajfa-14920	176	10	listed	list	VERB
ajfa-14920	176	11	companies	company	NOUN
ajfa-14920	176	12	with	with	ADP
ajfa-14920	176	13	3,300	3,300	NUM
ajfa-14920	176	14	observations	observation	NOUN
ajfa-14920	176	15	.	.	PUNCT
ajfa-14920	177	1	among	among	ADP
ajfa-14920	177	2	them	they	PRON
ajfa-14920	177	3	,	,	PUNCT
ajfa-14920	177	4	there	there	PRON
ajfa-14920	177	5	are	be	VERB
ajfa-14920	177	6	229	229	NUM
ajfa-14920	177	7	state	state	NOUN
ajfa-14920	177	8	-	-	PUNCT
ajfa-14920	177	9	owned	own	VERB
ajfa-14920	177	10	listed	list	VERB
ajfa-14920	177	11	companies	company	NOUN
ajfa-14920	177	12	with	with	ADP
ajfa-14920	177	13	1,374	1,374	NUM
ajfa-14920	177	14	firm	firm	ADJ
ajfa-14920	177	15	-	-	PUNCT
ajfa-14920	177	16	year	year	NOUN
ajfa-14920	177	17	observations	observation	NOUN
ajfa-14920	177	18	,	,	PUNCT
ajfa-14920	177	19	and	and	CCONJ
ajfa-14920	177	20	321	321	NUM
ajfa-14920	177	21	private	private	ADJ
ajfa-14920	177	22	listed	list	VERB
ajfa-14920	177	23	companies	company	NOUN
ajfa-14920	177	24	with	with	ADP
ajfa-14920	177	25	1,926	1,926	NUM
ajfa-14920	177	26	annual	annual	ADJ
ajfa-14920	177	27	observations	observation	NOUN
ajfa-14920	177	28	.	.	PUNCT
ajfa-14920	178	1	3.2	3.2	NUM
ajfa-14920	178	2	variable	variable	ADJ
ajfa-14920	178	3	selection	selection	NOUN
ajfa-14920	178	4	in	in	ADP
ajfa-14920	178	5	selecting	select	VERB
ajfa-14920	178	6	variables	variable	NOUN
ajfa-14920	178	7	,	,	PUNCT
ajfa-14920	178	8	this	this	DET
ajfa-14920	178	9	paper	paper	NOUN
ajfa-14920	178	10	draws	draw	VERB
ajfa-14920	178	11	on	on	ADP
ajfa-14920	178	12	previous	previous	ADJ
ajfa-14920	178	13	researches	research	NOUN
ajfa-14920	178	14	and	and	CCONJ
ajfa-14920	178	15	foucus	foucus	NOUN
ajfa-14920	178	16	on	on	ADP
ajfa-14920	178	17	the	the	DET
ajfa-14920	178	18	purpose	purpose	NOUN
ajfa-14920	178	19	of	of	ADP
ajfa-14920	178	20	this	this	DET
ajfa-14920	178	21	paper	paper	NOUN
ajfa-14920	178	22	.	.	PUNCT
ajfa-14920	179	1	the	the	DET
ajfa-14920	179	2	variables	variable	NOUN
ajfa-14920	179	3	are	be	AUX
ajfa-14920	179	4	represented	represent	VERB
ajfa-14920	179	5	respectively	respectively	ADV
ajfa-14920	179	6	as	as	ADP
ajfa-14920	179	7	table	table	NOUN
ajfa-14920	179	8	3	3	NUM
ajfa-14920	179	9	,	,	PUNCT
ajfa-14920	179	10	asian	asian	ADJ
ajfa-14920	179	11	journal	journal	NOUN
ajfa-14920	179	12	of	of	ADP
ajfa-14920	179	13	finance	finance	PROPN
ajfa-14920	179	14	&	&	CCONJ
ajfa-14920	179	15	accounting	accounting	PROPN
ajfa-14920	179	16	issn	issn	PROPN
ajfa-14920	179	17	1946	1946	NUM
ajfa-14920	179	18	-	-	PUNCT
ajfa-14920	179	19	052x	052x	PROPN
ajfa-14920	179	20	2019	2019	NUM
ajfa-14920	179	21	,	,	PUNCT
ajfa-14920	179	22	vol	vol	NOUN
ajfa-14920	179	23	.	.	PROPN
ajfa-14920	180	1	11	11	NUM
ajfa-14920	180	2	,	,	PUNCT
ajfa-14920	180	3	no	no	INTJ
ajfa-14920	180	4	.	.	NOUN
ajfa-14920	180	5	2	2	NUM
ajfa-14920	180	6	ajfa.macrothink.org/	ajfa.macrothink.org/	NOUN
ajfa-14920	180	7	245	245	NUM
ajfa-14920	180	8	table	table	NOUN
ajfa-14920	180	9	3	3	NUM
ajfa-14920	180	10	.	.	PUNCT
ajfa-14920	181	1	introduction	introduction	NOUN
ajfa-14920	181	2	of	of	ADP
ajfa-14920	181	3	variables	variable	NOUN
ajfa-14920	181	4	variable	variable	ADJ
ajfa-14920	181	5	definition	definition	NOUN
ajfa-14920	181	6	long	long	ADJ
ajfa-14920	181	7	-	-	PUNCT
ajfa-14920	181	8	term	term	NOUN
ajfa-14920	181	9	debt	debt	NOUN
ajfa-14920	181	10	ratio	ratio	NOUN
ajfa-14920	181	11	(	(	PUNCT
ajfa-14920	181	12	lon	lon	PROPN
ajfa-14920	181	13	)	)	PUNCT
ajfa-14920	181	14	the	the	DET
ajfa-14920	181	15	ratio	ratio	NOUN
ajfa-14920	181	16	of	of	ADP
ajfa-14920	181	17	non	non	ADJ
ajfa-14920	181	18	-	-	ADJ
ajfa-14920	181	19	current	current	ADJ
ajfa-14920	181	20	liabilities	liability	NOUN
ajfa-14920	181	21	to	to	PART
ajfa-14920	181	22	total	total	VERB
ajfa-14920	181	23	assets	asset	NOUN
ajfa-14920	181	24	return	return	VERB
ajfa-14920	181	25	on	on	ADP
ajfa-14920	181	26	assets	asset	NOUN
ajfa-14920	181	27	(	(	PUNCT
ajfa-14920	181	28	roa	roa	PROPN
ajfa-14920	181	29	)	)	PUNCT
ajfa-14920	181	30	the	the	DET
ajfa-14920	181	31	ratio	ratio	NOUN
ajfa-14920	181	32	of	of	ADP
ajfa-14920	181	33	net	net	ADJ
ajfa-14920	181	34	profit	profit	NOUN
ajfa-14920	181	35	to	to	PART
ajfa-14920	181	36	average	average	ADJ
ajfa-14920	181	37	assets	asset	NOUN
ajfa-14920	181	38	asset	asset	NOUN
ajfa-14920	181	39	specificity	specificity	NOUN
ajfa-14920	181	40	(	(	PUNCT
ajfa-14920	181	41	asi	asi	NOUN
ajfa-14920	181	42	)	)	PUNCT
ajfa-14920	181	43	the	the	DET
ajfa-14920	181	44	ratio	ratio	NOUN
ajfa-14920	181	45	of	of	ADP
ajfa-14920	181	46	the	the	DET
ajfa-14920	181	47	sum	sum	NOUN
ajfa-14920	181	48	of	of	ADP
ajfa-14920	181	49	net	net	ADJ
ajfa-14920	181	50	fixed	fix	VERB
ajfa-14920	181	51	assets	asset	NOUN
ajfa-14920	181	52	,	,	PUNCT
ajfa-14920	181	53	construction	construction	NOUN
ajfa-14920	181	54	in	in	ADP
ajfa-14920	181	55	progress	progress	NOUN
ajfa-14920	181	56	,	,	PUNCT
ajfa-14920	181	57	intangible	intangible	ADJ
ajfa-14920	181	58	assets	asset	NOUN
ajfa-14920	181	59	and	and	CCONJ
ajfa-14920	181	60	long	long	ADJ
ajfa-14920	181	61	-	-	PUNCT
ajfa-14920	181	62	term	term	NOUN
ajfa-14920	181	63	deferred	defer	VERB
ajfa-14920	181	64	expenses	expense	NOUN
ajfa-14920	181	65	to	to	ADP
ajfa-14920	181	66	the	the	DET
ajfa-14920	181	67	total	total	ADJ
ajfa-14920	181	68	assets	asset	NOUN
ajfa-14920	181	69	of	of	ADP
ajfa-14920	181	70	the	the	DET
ajfa-14920	181	71	enterprise	enterprise	NOUN
ajfa-14920	181	72	financial	financial	ADJ
ajfa-14920	181	73	mismatch	mismatch	NOUN
ajfa-14920	181	74	burden	burden	NOUN
ajfa-14920	181	75	level	level	NOUN
ajfa-14920	181	76	(	(	PUNCT
ajfa-14920	181	77	fm	fm	NOUN
ajfa-14920	181	78	)	)	PUNCT
ajfa-14920	181	79	the	the	DET
ajfa-14920	181	80	ratio	ratio	NOUN
ajfa-14920	181	81	of	of	ADP
ajfa-14920	181	82	interest	interest	NOUN
ajfa-14920	181	83	expenses	expense	NOUN
ajfa-14920	181	84	divided	divide	VERB
ajfa-14920	181	85	by	by	ADP
ajfa-14920	181	86	liabilities	liability	NOUN
ajfa-14920	181	87	removed	remove	VERB
ajfa-14920	181	88	accounts	account	NOUN
ajfa-14920	181	89	payable	payable	ADJ
ajfa-14920	181	90	company	company	NOUN
ajfa-14920	181	91	size	size	NOUN
ajfa-14920	181	92	(	(	PUNCT
ajfa-14920	181	93	size	size	NOUN
ajfa-14920	181	94	)	)	PUNCT
ajfa-14920	181	95	the	the	DET
ajfa-14920	181	96	natural	natural	ADJ
ajfa-14920	181	97	logarithm	logarithm	NOUN
ajfa-14920	181	98	of	of	ADP
ajfa-14920	181	99	total	total	ADJ
ajfa-14920	181	100	assets	asset	NOUN
ajfa-14920	181	101	growth	growth	NOUN
ajfa-14920	181	102	(	(	PUNCT
ajfa-14920	181	103	growth	growth	NOUN
ajfa-14920	181	104	)	)	PUNCT
ajfa-14920	181	105	operating	operate	VERB
ajfa-14920	181	106	income	income	NOUN
ajfa-14920	181	107	growth	growth	NOUN
ajfa-14920	181	108	rate	rate	NOUN
ajfa-14920	181	109	equity	equity	NOUN
ajfa-14920	181	110	structure	structure	NOUN
ajfa-14920	181	111	(	(	PUNCT
ajfa-14920	181	112	ncsp	ncsp	PROPN
ajfa-14920	181	113	)	)	PUNCT
ajfa-14920	181	114	the	the	DET
ajfa-14920	181	115	total	total	ADJ
ajfa-14920	181	116	share	share	NOUN
ajfa-14920	181	117	ratio	ratio	NOUN
ajfa-14920	181	118	of	of	ADP
ajfa-14920	181	119	the	the	DET
ajfa-14920	181	120	top	top	ADJ
ajfa-14920	181	121	ten	ten	NUM
ajfa-14920	181	122	shareholders	shareholder	NOUN
ajfa-14920	181	123	dividend	dividend	NOUN
ajfa-14920	181	124	payout	payout	NOUN
ajfa-14920	181	125	ratio	ratio	NOUN
ajfa-14920	181	126	(	(	PUNCT
ajfa-14920	181	127	sto	sto	PROPN
ajfa-14920	181	128	)	)	PUNCT
ajfa-14920	181	129	the	the	DET
ajfa-14920	181	130	ratio	ratio	NOUN
ajfa-14920	181	131	of	of	ADP
ajfa-14920	181	132	cash	cash	NOUN
ajfa-14920	181	133	dividend	dividend	NOUN
ajfa-14920	181	134	to	to	ADP
ajfa-14920	181	135	earnings	earning	NOUN
ajfa-14920	181	136	per	per	ADP
ajfa-14920	181	137	share	share	NOUN
ajfa-14920	181	138	non	non	ADJ
ajfa-14920	181	139	-	-	ADJ
ajfa-14920	181	140	debt	debt	ADJ
ajfa-14920	181	141	tax	tax	NOUN
ajfa-14920	181	142	shield	shield	NOUN
ajfa-14920	181	143	(	(	PUNCT
ajfa-14920	181	144	tax	tax	NOUN
ajfa-14920	181	145	)	)	PUNCT
ajfa-14920	181	146	the	the	DET
ajfa-14920	181	147	ratio	ratio	NOUN
ajfa-14920	181	148	of	of	ADP
ajfa-14920	181	149	accumulated	accumulate	VERB
ajfa-14920	181	150	depreciation	depreciation	NOUN
ajfa-14920	181	151	to	to	AUX
ajfa-14920	181	152	total	total	ADJ
ajfa-14920	181	153	asset	asset	NOUN
ajfa-14920	181	154	industry	industry	NOUN
ajfa-14920	181	155	(	(	PUNCT
ajfa-14920	181	156	ind	ind	NOUN
ajfa-14920	181	157	)	)	PUNCT
ajfa-14920	181	158	industry	industry	NOUN
ajfa-14920	181	159	dummy	dummy	NOUN
ajfa-14920	181	160	variables	variable	NOUN
ajfa-14920	181	161	year	year	NOUN
ajfa-14920	181	162	(	(	PUNCT
ajfa-14920	181	163	year	year	NOUN
ajfa-14920	181	164	)	)	PUNCT
ajfa-14920	181	165	annual	annual	ADJ
ajfa-14920	181	166	dummy	dummy	NOUN
ajfa-14920	181	167	variables	variable	NOUN
ajfa-14920	181	168	3.3	3.3	NUM
ajfa-14920	181	169	model	model	NOUN
ajfa-14920	181	170	to	to	PART
ajfa-14920	181	171	test	test	VERB
ajfa-14920	181	172	hypothesis	hypothesis	NOUN
ajfa-14920	181	173	1	1	NUM
ajfa-14920	181	174	,	,	PUNCT
ajfa-14920	181	175	we	we	PRON
ajfa-14920	181	176	build	build	VERB
ajfa-14920	181	177	a	a	DET
ajfa-14920	181	178	model	model	NOUN
ajfa-14920	181	179	(	(	PUNCT
ajfa-14920	181	180	1	1	NUM
ajfa-14920	181	181	)	)	PUNCT
ajfa-14920	181	182	as	as	SCONJ
ajfa-14920	181	183	follows	follow	VERB
ajfa-14920	181	184	,	,	PUNCT
ajfa-14920	181	185	𝑅𝑂𝐴	𝑅𝑂𝐴	PROPN
ajfa-14920	181	186	=	=	SYM
ajfa-14920	181	187	𝛼	𝛼	X
ajfa-14920	181	188	+	+	NOUN
ajfa-14920	181	189	𝛼	𝛼	VERB
ajfa-14920	181	190	𝐿𝑂𝑁	𝐿𝑂𝑁	PROPN
ajfa-14920	181	191	+	+	NUM
ajfa-14920	181	192	𝛼	𝛼	X
ajfa-14920	181	193	𝐹𝑀	𝐹𝑀	NOUN
ajfa-14920	182	1	+	+	CCONJ
ajfa-14920	182	2	𝛼	𝛼	PRON
ajfa-14920	182	3	𝐹𝑀	𝐹𝑀	NOUN
ajfa-14920	182	4	×	×	PROPN
ajfa-14920	182	5	𝐿𝑂𝑁	𝐿𝑂𝑁	INTJ
ajfa-14920	182	6	+	+	CCONJ
ajfa-14920	183	1	𝛼	𝛼	X
ajfa-14920	183	2	𝑆𝐼𝑍𝐸	𝑆𝐼𝑍𝐸	PROPN
ajfa-14920	184	1	+	+	CCONJ
ajfa-14920	184	2	𝛼	𝛼	X
ajfa-14920	184	3	𝐺𝑅𝑂𝑊𝑇𝐻	𝐺𝑅𝑂𝑊𝑇𝐻	NOUN
ajfa-14920	184	4	+	+	CCONJ
ajfa-14920	184	5	𝛼	𝛼	X
ajfa-14920	184	6	𝑁𝐶𝑆𝑃	𝑁𝐶𝑆𝑃	NOUN
ajfa-14920	184	7	+	+	CCONJ
ajfa-14920	184	8	𝛼	𝛼	PRON
ajfa-14920	184	9	𝑅𝐸𝑆	𝑅𝐸𝑆	NOUN
ajfa-14920	184	10	+	+	CCONJ
ajfa-14920	184	11	𝛼	𝛼	PRON
ajfa-14920	184	12	𝐼𝑁𝐷	𝐼𝑁𝐷	NOUN
ajfa-14920	184	13	+	+	CCONJ
ajfa-14920	184	14	𝛼	𝛼	X
ajfa-14920	184	15	𝑌𝐸𝐴𝑅	𝑌𝐸𝐴𝑅	NOUN
ajfa-14920	184	16	+	+	CCONJ
ajfa-14920	184	17	𝜇	𝜇	X
ajfa-14920	184	18	(	(	PUNCT
ajfa-14920	184	19	1	1	NUM
ajfa-14920	184	20	)	)	PUNCT
ajfa-14920	184	21	where	where	SCONJ
ajfa-14920	184	22	α	α	NOUN
ajfa-14920	184	23	is	be	AUX
ajfa-14920	184	24	the	the	DET
ajfa-14920	184	25	intercept	intercept	NOUN
ajfa-14920	184	26	term	term	NOUN
ajfa-14920	184	27	,	,	PUNCT
ajfa-14920	184	28	α（i=1,2,3,4,5,6,7,8,9）is	α（i=1,2,3,4,5,6,7,8,9）is	VERB
ajfa-14920	184	29	the	the	DET
ajfa-14920	184	30	regression	regression	NOUN
ajfa-14920	184	31	coefficient	coefficient	NOUN
ajfa-14920	184	32	of	of	ADP
ajfa-14920	184	33	the	the	DET
ajfa-14920	184	34	model(1),μ	model(1),μ	NOUN
ajfa-14920	184	35	is	be	AUX
ajfa-14920	184	36	the	the	DET
ajfa-14920	184	37	random	random	ADJ
ajfa-14920	184	38	error	error	NOUN
ajfa-14920	184	39	term	term	NOUN
ajfa-14920	184	40	.	.	PUNCT
ajfa-14920	185	1	to	to	PART
ajfa-14920	185	2	test	test	VERB
ajfa-14920	185	3	the	the	DET
ajfa-14920	185	4	hypothesis	hypothesis	NOUN
ajfa-14920	185	5	2	2	NUM
ajfa-14920	185	6	,	,	PUNCT
ajfa-14920	185	7	we	we	PRON
ajfa-14920	185	8	build	build	VERB
ajfa-14920	185	9	the	the	DET
ajfa-14920	185	10	model	model	NOUN
ajfa-14920	185	11	(	(	PUNCT
ajfa-14920	185	12	2	2	NUM
ajfa-14920	185	13	)	)	PUNCT
ajfa-14920	185	14	as	as	SCONJ
ajfa-14920	185	15	follows	follow	VERB
ajfa-14920	185	16	,	,	PUNCT
ajfa-14920	185	17	𝐿𝑂𝑁	𝐿𝑂𝑁	PROPN
ajfa-14920	185	18	=	=	SYM
ajfa-14920	185	19	𝛽	𝛽	PROPN
ajfa-14920	185	20	+	+	X
ajfa-14920	185	21	𝛽	𝛽	NOUN
ajfa-14920	185	22	𝐴𝑆𝐼	𝐴𝑆𝐼	PROPN
ajfa-14920	185	23	+	+	NUM
ajfa-14920	185	24	𝛽	𝛽	NOUN
ajfa-14920	185	25	𝑅𝑂𝐴	𝑅𝑂𝐴	PROPN
ajfa-14920	185	26	+	+	CCONJ
ajfa-14920	185	27	𝛽	𝛽	X
ajfa-14920	185	28	𝑆𝐼𝑍𝐸	𝑆𝐼𝑍𝐸	PROPN
ajfa-14920	185	29	+	+	CCONJ
ajfa-14920	185	30	𝛽	𝛽	X
ajfa-14920	185	31	𝐺𝑅𝑂𝑊𝑇𝐻	𝐺𝑅𝑂𝑊𝑇𝐻	NOUN
ajfa-14920	185	32	+	+	CCONJ
ajfa-14920	185	33	𝛽	𝛽	PROPN
ajfa-14920	185	34	𝑁𝐶𝑆𝑃	𝑁𝐶𝑆𝑃	NOUN
ajfa-14920	185	35	+	+	CCONJ
ajfa-14920	185	36	𝛽	𝛽	PROPN
ajfa-14920	185	37	𝑅𝐸𝑆	𝑅𝐸𝑆	NOUN
ajfa-14920	185	38	+	+	CCONJ
ajfa-14920	185	39	𝛽	𝛽	NOUN
ajfa-14920	185	40	𝑇𝐴𝑋	𝑇𝐴𝑋	NOUN
ajfa-14920	185	41	+	+	CCONJ
ajfa-14920	185	42	𝛽	𝛽	NOUN
ajfa-14920	185	43	𝐼𝑁𝐷	𝐼𝑁𝐷	NOUN
ajfa-14920	185	44	+	+	CCONJ
ajfa-14920	185	45	𝛽	𝛽	NOUN
ajfa-14920	185	46	𝑌𝐸𝐴𝑅	𝑌𝐸𝐴𝑅	NOUN
ajfa-14920	185	47	+	+	CCONJ
ajfa-14920	185	48	𝛿	𝛿	ADJ
ajfa-14920	185	49	(	(	PUNCT
ajfa-14920	185	50	2	2	NUM
ajfa-14920	185	51	)	)	PUNCT
ajfa-14920	185	52	where	where	SCONJ
ajfa-14920	185	53	𝛽	𝛽	NOUN
ajfa-14920	185	54	is	be	AUX
ajfa-14920	185	55	the	the	DET
ajfa-14920	185	56	intercept	intercept	NOUN
ajfa-14920	185	57	term	term	NOUN
ajfa-14920	185	58	,	,	PUNCT
ajfa-14920	185	59	𝛽（i=1,2,3,4,5,6,7,8,9）is	𝛽（i=1,2,3,4,5,6,7,8,9）i	VERB
ajfa-14920	185	60	the	the	DET
ajfa-14920	185	61	regression	regression	NOUN
ajfa-14920	185	62	coefficient	coefficient	NOUN
ajfa-14920	185	63	of	of	ADP
ajfa-14920	185	64	the	the	DET
ajfa-14920	185	65	model(2),𝛿	model(2),𝛿	NOUN
ajfa-14920	185	66	is	be	AUX
ajfa-14920	185	67	the	the	DET
ajfa-14920	185	68	random	random	ADJ
ajfa-14920	185	69	error	error	NOUN
ajfa-14920	185	70	term	term	NOUN
ajfa-14920	185	71	.	.	PUNCT
ajfa-14920	186	1	asian	asian	ADJ
ajfa-14920	186	2	journal	journal	PROPN
ajfa-14920	186	3	of	of	ADP
ajfa-14920	186	4	finance	finance	PROPN
ajfa-14920	186	5	&	&	CCONJ
ajfa-14920	186	6	accounting	accounting	PROPN
ajfa-14920	186	7	issn	issn	PROPN
ajfa-14920	186	8	1946	1946	NUM
ajfa-14920	186	9	-	-	PUNCT
ajfa-14920	186	10	052x	052x	PROPN
ajfa-14920	186	11	2019	2019	NUM
ajfa-14920	186	12	,	,	PUNCT
ajfa-14920	186	13	vol	vol	NOUN
ajfa-14920	186	14	.	.	PROPN
ajfa-14920	186	15	11	11	NUM
ajfa-14920	186	16	,	,	PUNCT
ajfa-14920	186	17	no	no	INTJ
ajfa-14920	186	18	.	.	NOUN
ajfa-14920	186	19	2	2	NUM
ajfa-14920	186	20	ajfa.macrothink.org/	ajfa.macrothink.org/	NOUN
ajfa-14920	186	21	246	246	NUM
ajfa-14920	186	22	empirical	empirical	ADJ
ajfa-14920	186	23	analysis	analysis	NOUN
ajfa-14920	186	24	4.1	4.1	NUM
ajfa-14920	186	25	descriptive	descriptive	ADJ
ajfa-14920	186	26	statistics	statistic	NOUN
ajfa-14920	186	27	in	in	ADP
ajfa-14920	186	28	this	this	DET
ajfa-14920	186	29	paper	paper	NOUN
ajfa-14920	186	30	,	,	PUNCT
ajfa-14920	186	31	descriptive	descriptive	ADJ
ajfa-14920	186	32	statistics	statistic	NOUN
ajfa-14920	186	33	are	be	AUX
ajfa-14920	186	34	performed	perform	VERB
ajfa-14920	186	35	on	on	ADP
ajfa-14920	186	36	the	the	DET
ajfa-14920	186	37	full	full	ADJ
ajfa-14920	186	38	sample	sample	NOUN
ajfa-14920	186	39	and	and	CCONJ
ajfa-14920	186	40	the	the	DET
ajfa-14920	186	41	subsample	subsample	NOUN
ajfa-14920	186	42	(	(	PUNCT
ajfa-14920	186	43	as	as	SCONJ
ajfa-14920	186	44	shown	show	VERB
ajfa-14920	186	45	in	in	ADP
ajfa-14920	186	46	table	table	NOUN
ajfa-14920	186	47	4	4	NUM
ajfa-14920	186	48	)	)	PUNCT
ajfa-14920	186	49	.	.	PUNCT
ajfa-14920	187	1	the	the	DET
ajfa-14920	187	2	results	result	NOUN
ajfa-14920	187	3	of	of	ADP
ajfa-14920	187	4	descriptive	descriptive	ADJ
ajfa-14920	187	5	statistics	statistic	NOUN
ajfa-14920	187	6	show	show	VERB
ajfa-14920	187	7	that	that	SCONJ
ajfa-14920	187	8	the	the	DET
ajfa-14920	187	9	long	long	ADJ
ajfa-14920	187	10	-	-	PUNCT
ajfa-14920	187	11	term	term	NOUN
ajfa-14920	187	12	debt	debt	NOUN
ajfa-14920	187	13	ratio	ratio	NOUN
ajfa-14920	187	14	of	of	ADP
ajfa-14920	187	15	state	state	NOUN
ajfa-14920	187	16	-	-	PUNCT
ajfa-14920	187	17	owned	own	VERB
ajfa-14920	187	18	listed	list	VERB
ajfa-14920	187	19	companies	company	NOUN
ajfa-14920	187	20	(	(	PUNCT
ajfa-14920	187	21	lon	lon	NOUN
ajfa-14920	187	22	mean	mean	VERB
ajfa-14920	187	23	=	=	PROPN
ajfa-14920	187	24	22.12	22.12	NUM
ajfa-14920	187	25	%	%	NOUN
ajfa-14920	187	26	)	)	PUNCT
ajfa-14920	187	27	is	be	AUX
ajfa-14920	187	28	significantly	significantly	ADV
ajfa-14920	187	29	higher	high	ADJ
ajfa-14920	187	30	than	than	ADP
ajfa-14920	187	31	that	that	PRON
ajfa-14920	187	32	of	of	ADP
ajfa-14920	187	33	private	private	ADJ
ajfa-14920	187	34	listed	list	VERB
ajfa-14920	187	35	companies	company	NOUN
ajfa-14920	187	36	(	(	PUNCT
ajfa-14920	187	37	lon	lon	NOUN
ajfa-14920	187	38	mean	mean	NOUN
ajfa-14920	187	39	=	=	SYM
ajfa-14920	187	40	12.05	12.05	NUM
ajfa-14920	187	41	%	%	NOUN
ajfa-14920	187	42	)	)	PUNCT
ajfa-14920	187	43	.	.	PUNCT
ajfa-14920	188	1	in	in	ADP
ajfa-14920	188	2	a	a	DET
ajfa-14920	188	3	sharp	sharp	ADJ
ajfa-14920	188	4	contrast	contrast	NOUN
ajfa-14920	188	5	,	,	PUNCT
ajfa-14920	188	6	the	the	DET
ajfa-14920	188	7	rate	rate	NOUN
ajfa-14920	188	8	of	of	ADP
ajfa-14920	188	9	return	return	NOUN
ajfa-14920	188	10	on	on	ADP
ajfa-14920	188	11	total	total	ADJ
ajfa-14920	188	12	assets	asset	NOUN
ajfa-14920	188	13	of	of	ADP
ajfa-14920	188	14	state	state	NOUN
ajfa-14920	188	15	-	-	PUNCT
ajfa-14920	188	16	controlled	control	VERB
ajfa-14920	188	17	listed	list	VERB
ajfa-14920	188	18	companies	company	NOUN
ajfa-14920	188	19	(	(	PUNCT
ajfa-14920	188	20	roa	roa	NOUN
ajfa-14920	188	21	=	=	NOUN
ajfa-14920	188	22	7.23	7.23	NUM
ajfa-14920	188	23	%	%	NOUN
ajfa-14920	188	24	)	)	PUNCT
ajfa-14920	188	25	is	be	AUX
ajfa-14920	188	26	significantly	significantly	ADV
ajfa-14920	188	27	lower	low	ADJ
ajfa-14920	188	28	than	than	ADP
ajfa-14920	188	29	that	that	PRON
ajfa-14920	188	30	of	of	ADP
ajfa-14920	188	31	private	private	ADJ
ajfa-14920	188	32	listed	list	VERB
ajfa-14920	188	33	companies	company	NOUN
ajfa-14920	188	34	(	(	PUNCT
ajfa-14920	188	35	roa	roa	NOUN
ajfa-14920	188	36	mean	mean	NOUN
ajfa-14920	188	37	=	=	NUM
ajfa-14920	188	38	8.37	8.37	NUM
ajfa-14920	188	39	%	%	NOUN
ajfa-14920	188	40	)	)	PUNCT
ajfa-14920	188	41	.	.	PUNCT
ajfa-14920	189	1	for	for	ADP
ajfa-14920	189	2	asset	asset	NOUN
ajfa-14920	189	3	specificity	specificity	NOUN
ajfa-14920	189	4	level	level	NOUN
ajfa-14920	189	5	,	,	PUNCT
ajfa-14920	189	6	state	state	NOUN
ajfa-14920	189	7	-	-	PUNCT
ajfa-14920	189	8	controlled	control	VERB
ajfa-14920	189	9	listed	list	VERB
ajfa-14920	189	10	companies	company	NOUN
ajfa-14920	189	11	(	(	PUNCT
ajfa-14920	189	12	asi	asi	NOUN
ajfa-14920	189	13	mean	mean	NOUN
ajfa-14920	189	14	=	=	SYM
ajfa-14920	189	15	36.01	36.01	NUM
ajfa-14920	189	16	%	%	NOUN
ajfa-14920	189	17	)	)	PUNCT
ajfa-14920	189	18	is	be	AUX
ajfa-14920	189	19	significantly	significantly	ADV
ajfa-14920	189	20	higher	high	ADJ
ajfa-14920	189	21	than	than	ADP
ajfa-14920	189	22	private	private	ADJ
ajfa-14920	189	23	listed	list	VERB
ajfa-14920	189	24	companies	company	NOUN
ajfa-14920	189	25	(	(	PUNCT
ajfa-14920	189	26	asi	asi	NOUN
ajfa-14920	189	27	mean	mean	NOUN
ajfa-14920	189	28	=	=	SYM
ajfa-14920	189	29	30.90	30.90	NUM
ajfa-14920	189	30	%	%	NOUN
ajfa-14920	189	31	)	)	PUNCT
ajfa-14920	189	32	.	.	PUNCT
ajfa-14920	190	1	as	as	SCONJ
ajfa-14920	190	2	shown	show	VERB
ajfa-14920	190	3	in	in	ADP
ajfa-14920	190	4	the	the	DET
ajfa-14920	190	5	descriptive	descriptive	ADJ
ajfa-14920	190	6	statistics	statistic	NOUN
ajfa-14920	190	7	results	result	NOUN
ajfa-14920	190	8	,	,	PUNCT
ajfa-14920	190	9	the	the	DET
ajfa-14920	190	10	level	level	NOUN
ajfa-14920	190	11	of	of	ADP
ajfa-14920	190	12	financial	financial	ADJ
ajfa-14920	190	13	mismatch	mismatch	NOUN
ajfa-14920	190	14	burden	burden	NOUN
ajfa-14920	190	15	of	of	ADP
ajfa-14920	190	16	private	private	ADJ
ajfa-14920	190	17	listed	list	VERB
ajfa-14920	190	18	companies	company	NOUN
ajfa-14920	190	19	(	(	PUNCT
ajfa-14920	190	20	fm	fm	NOUN
ajfa-14920	190	21	mean	mean	VERB
ajfa-14920	190	22	=	=	SYM
ajfa-14920	190	23	1	1	NUM
ajfa-14920	190	24	.	.	NOUN
ajfa-14920	190	25	2035	2035	NUM
ajfa-14920	190	26	)	)	PUNCT
ajfa-14920	190	27	is	be	AUX
ajfa-14920	190	28	significantly	significantly	ADV
ajfa-14920	190	29	higher	high	ADJ
ajfa-14920	190	30	than	than	ADP
ajfa-14920	190	31	that	that	PRON
ajfa-14920	190	32	of	of	ADP
ajfa-14920	190	33	state	state	NOUN
ajfa-14920	190	34	-	-	PUNCT
ajfa-14920	190	35	owned	own	VERB
ajfa-14920	190	36	listed	list	VERB
ajfa-14920	190	37	companies	company	NOUN
ajfa-14920	190	38	(	(	PUNCT
ajfa-14920	190	39	fm	fm	NOUN
ajfa-14920	190	40	mean	mean	VERB
ajfa-14920	190	41	=	=	SYM
ajfa-14920	190	42	0.7148	0.7148	NUM
ajfa-14920	190	43	)	)	PUNCT
ajfa-14920	190	44	.	.	PUNCT
ajfa-14920	191	1	in	in	ADP
ajfa-14920	191	2	addition	addition	NOUN
ajfa-14920	191	3	,	,	PUNCT
ajfa-14920	191	4	there	there	PRON
ajfa-14920	191	5	are	be	VERB
ajfa-14920	191	6	also	also	ADV
ajfa-14920	191	7	significant	significant	ADJ
ajfa-14920	191	8	differences	difference	NOUN
ajfa-14920	191	9	in	in	ADP
ajfa-14920	191	10	firm	firm	ADJ
ajfa-14920	191	11	size	size	NOUN
ajfa-14920	191	12	,	,	PUNCT
ajfa-14920	191	13	growth	growth	NOUN
ajfa-14920	191	14	and	and	CCONJ
ajfa-14920	191	15	equity	equity	NOUN
ajfa-14920	191	16	concentration	concentration	NOUN
ajfa-14920	191	17	,	,	PUNCT
ajfa-14920	191	18	state	state	NOUN
ajfa-14920	191	19	-	-	PUNCT
ajfa-14920	191	20	owned	own	VERB
ajfa-14920	191	21	listed	list	VERB
ajfa-14920	191	22	companies	company	NOUN
ajfa-14920	191	23	have	have	VERB
ajfa-14920	191	24	larger	large	ADJ
ajfa-14920	191	25	average	average	ADJ
ajfa-14920	191	26	company	company	NOUN
ajfa-14920	191	27	size	size	NOUN
ajfa-14920	191	28	and	and	CCONJ
ajfa-14920	191	29	higher	high	ADJ
ajfa-14920	191	30	equity	equity	NOUN
ajfa-14920	191	31	concentration	concentration	NOUN
ajfa-14920	191	32	than	than	ADP
ajfa-14920	191	33	private	private	ADJ
ajfa-14920	191	34	listed	list	VERB
ajfa-14920	191	35	companies	company	NOUN
ajfa-14920	191	36	,	,	PUNCT
ajfa-14920	191	37	while	while	SCONJ
ajfa-14920	191	38	private	private	ADJ
ajfa-14920	191	39	listed	list	VERB
ajfa-14920	191	40	companies	company	NOUN
ajfa-14920	191	41	have	have	VERB
ajfa-14920	191	42	significantly	significantly	ADV
ajfa-14920	191	43	higher	high	ADJ
ajfa-14920	191	44	average	average	ADJ
ajfa-14920	191	45	growth	growth	NOUN
ajfa-14920	191	46	rate	rate	NOUN
ajfa-14920	191	47	(	(	PUNCT
ajfa-14920	191	48	growth=19.00	growth=19.00	NOUN
ajfa-14920	191	49	%	%	NOUN
ajfa-14920	191	50	)	)	PUNCT
ajfa-14920	191	51	than	than	ADP
ajfa-14920	191	52	stateowned	stateowne	VERB
ajfa-14920	191	53	listed	list	VERB
ajfa-14920	191	54	companies	company	NOUN
ajfa-14920	191	55	(	(	PUNCT
ajfa-14920	191	56	growth=10.97	growth=10.97	NOUN
ajfa-14920	191	57	%	%	NOUN
ajfa-14920	191	58	)	)	PUNCT
ajfa-14920	191	59	.	.	PUNCT
ajfa-14920	192	1	therefore	therefore	ADV
ajfa-14920	192	2	,	,	PUNCT
ajfa-14920	192	3	the	the	DET
ajfa-14920	192	4	financial	financial	ADJ
ajfa-14920	192	5	resource	resource	NOUN
ajfa-14920	192	6	in	in	ADP
ajfa-14920	192	7	listed	list	VERB
ajfa-14920	192	8	companies	company	NOUN
ajfa-14920	192	9	of	of	ADP
ajfa-14920	192	10	china	china	PROPN
ajfa-14920	192	11	shows	show	VERB
ajfa-14920	192	12	a	a	DET
ajfa-14920	192	13	mismatched	mismatch	VERB
ajfa-14920	192	14	feature	feature	NOUN
ajfa-14920	192	15	based	base	VERB
ajfa-14920	192	16	on	on	ADP
ajfa-14920	192	17	the	the	DET
ajfa-14920	192	18	ownership	ownership	NOUN
ajfa-14920	192	19	of	of	ADP
ajfa-14920	192	20	them	they	PRON
ajfa-14920	192	21	.	.	PUNCT
ajfa-14920	193	1	state	state	NOUN
ajfa-14920	193	2	-	-	PUNCT
ajfa-14920	193	3	controlled	control	VERB
ajfa-14920	193	4	listed	list	VERB
ajfa-14920	193	5	companies	company	NOUN
ajfa-14920	193	6	with	with	ADP
ajfa-14920	193	7	poor	poor	ADJ
ajfa-14920	193	8	average	average	ADJ
ajfa-14920	193	9	performance	performance	NOUN
ajfa-14920	193	10	and	and	CCONJ
ajfa-14920	193	11	high	high	ADJ
ajfa-14920	193	12	average	average	ADJ
ajfa-14920	193	13	asset	asset	NOUN
ajfa-14920	193	14	specificity	specificity	NOUN
ajfa-14920	193	15	can	can	AUX
ajfa-14920	193	16	obtain	obtain	VERB
ajfa-14920	193	17	more	more	ADJ
ajfa-14920	193	18	long	long	ADJ
ajfa-14920	193	19	-	-	PUNCT
ajfa-14920	193	20	term	term	NOUN
ajfa-14920	193	21	loans	loan	NOUN
ajfa-14920	193	22	at	at	ADP
ajfa-14920	193	23	a	a	DET
ajfa-14920	193	24	lower	low	ADJ
ajfa-14920	193	25	cost	cost	NOUN
ajfa-14920	193	26	,	,	PUNCT
ajfa-14920	193	27	while	while	SCONJ
ajfa-14920	193	28	private	private	ADJ
ajfa-14920	193	29	companies	company	NOUN
ajfa-14920	193	30	with	with	ADP
ajfa-14920	193	31	better	well	ADJ
ajfa-14920	193	32	performance	performance	NOUN
ajfa-14920	193	33	needs	need	VERB
ajfa-14920	193	34	to	to	PART
ajfa-14920	193	35	pay	pay	VERB
ajfa-14920	193	36	more	more	ADJ
ajfa-14920	193	37	to	to	PART
ajfa-14920	193	38	obtain	obtain	VERB
ajfa-14920	193	39	long	long	ADJ
ajfa-14920	193	40	-	-	PUNCT
ajfa-14920	193	41	term	term	NOUN
ajfa-14920	193	42	loans	loan	NOUN
ajfa-14920	193	43	.	.	PUNCT
ajfa-14920	194	1	to	to	ADP
ajfa-14920	194	2	a	a	DET
ajfa-14920	194	3	certain	certain	ADJ
ajfa-14920	194	4	extent	extent	NOUN
ajfa-14920	194	5	,	,	PUNCT
ajfa-14920	194	6	this	this	PRON
ajfa-14920	194	7	reflects	reflect	VERB
ajfa-14920	194	8	the	the	DET
ajfa-14920	194	9	phenomenon	phenomenon	NOUN
ajfa-14920	194	10	of	of	ADP
ajfa-14920	194	11	financial	financial	ADJ
ajfa-14920	194	12	mismatch	mismatch	NOUN
ajfa-14920	194	13	.	.	PUNCT
ajfa-14920	195	1	this	this	DET
ajfa-14920	195	2	inequality	inequality	NOUN
ajfa-14920	195	3	between	between	ADP
ajfa-14920	195	4	state	state	NOUN
ajfa-14920	195	5	-	-	PUNCT
ajfa-14920	195	6	owned	own	VERB
ajfa-14920	195	7	enterprises	enterprise	NOUN
ajfa-14920	195	8	and	and	CCONJ
ajfa-14920	195	9	private	private	ADJ
ajfa-14920	195	10	enterprises	enterprise	NOUN
ajfa-14920	195	11	violates	violate	VERB
ajfa-14920	195	12	the	the	DET
ajfa-14920	195	13	principle	principle	NOUN
ajfa-14920	195	14	of	of	ADP
ajfa-14920	195	15	effective	effective	ADJ
ajfa-14920	195	16	allocation	allocation	NOUN
ajfa-14920	195	17	of	of	ADP
ajfa-14920	195	18	resources	resource	NOUN
ajfa-14920	195	19	and	and	CCONJ
ajfa-14920	195	20	the	the	DET
ajfa-14920	195	21	theoretical	theoretical	ADJ
ajfa-14920	195	22	analysis	analysis	NOUN
ajfa-14920	195	23	of	of	ADP
ajfa-14920	195	24	transaction	transaction	NOUN
ajfa-14920	195	25	cost	cost	NOUN
ajfa-14920	195	26	economics	economic	NOUN
ajfa-14920	195	27	.	.	PUNCT
ajfa-14920	196	1	asian	asian	ADJ
ajfa-14920	196	2	journal	journal	PROPN
ajfa-14920	196	3	of	of	ADP
ajfa-14920	196	4	finance	finance	PROPN
ajfa-14920	196	5	&	&	CCONJ
ajfa-14920	196	6	accounting	accounting	PROPN
ajfa-14920	196	7	issn	issn	PROPN
ajfa-14920	196	8	1946	1946	NUM
ajfa-14920	196	9	-	-	PUNCT
ajfa-14920	196	10	052x	052x	PROPN
ajfa-14920	196	11	2019	2019	NUM
ajfa-14920	196	12	,	,	PUNCT
ajfa-14920	196	13	vol	vol	NOUN
ajfa-14920	196	14	.	.	PROPN
ajfa-14920	196	15	11	11	NUM
ajfa-14920	196	16	,	,	PUNCT
ajfa-14920	196	17	no	no	INTJ
ajfa-14920	196	18	.	.	NOUN
ajfa-14920	196	19	2	2	NUM
ajfa-14920	196	20	ajfa.macrothink.org/	ajfa.macrothink.org/	NOUN
ajfa-14920	196	21	247	247	NUM
ajfa-14920	196	22	table	table	NOUN
ajfa-14920	196	23	4	4	NUM
ajfa-14920	196	24	.	.	PUNCT
ajfa-14920	196	25	results	result	NOUN
ajfa-14920	196	26	of	of	ADP
ajfa-14920	196	27	descriptive	descriptive	ADJ
ajfa-14920	196	28	statistics	statistic	NOUN
ajfa-14920	196	29	variables	variable	NOUN
ajfa-14920	196	30	total	total	ADJ
ajfa-14920	196	31	state	state	NOUN
ajfa-14920	196	32	-	-	PUNCT
ajfa-14920	196	33	owned	own	VERB
ajfa-14920	196	34	private	private	ADJ
ajfa-14920	196	35	t	t	NOUN
ajfa-14920	196	36	test	test	NOUN
ajfa-14920	196	37	(	(	PUNCT
ajfa-14920	196	38	n=3300	n=3300	PROPN
ajfa-14920	196	39	)	)	PUNCT
ajfa-14920	196	40	(	(	PUNCT
ajfa-14920	196	41	n=1374	n=1374	ADV
ajfa-14920	196	42	)	)	PUNCT
ajfa-14920	196	43	(	(	PUNCT
ajfa-14920	196	44	n=1926	n=1926	NOUN
ajfa-14920	196	45	)	)	PUNCT
ajfa-14920	196	46	mean	mean	VERB
ajfa-14920	196	47	std	std	PROPN
ajfa-14920	196	48	..	..	PUNCT
ajfa-14920	196	49	min	min	PROPN
ajfa-14920	196	50	max	max	PROPN
ajfa-14920	196	51	mean	mean	PROPN
ajfa-14920	196	52	std	std	PROPN
ajfa-14920	196	53	..	..	PUNCT
ajfa-14920	196	54	min	min	PROPN
ajfa-14920	196	55	max	max	PROPN
ajfa-14920	196	56	mean	mean	PROPN
ajfa-14920	196	57	std	std	PROPN
ajfa-14920	196	58	..	..	PUNCT
ajfa-14920	196	59	min	min	PROPN
ajfa-14920	196	60	max	max	PROPN
ajfa-14920	196	61	t	t	PROPN
ajfa-14920	196	62	-	-	PUNCT
ajfa-14920	196	63	value	value	NOUN
ajfa-14920	196	64	roa	roa	NOUN
ajfa-14920	196	65	0.0790	0.0790	NUM
ajfa-14920	196	66	0.0491	0.0491	NUM
ajfa-14920	196	67	-0.1252	-0.1252	VERB
ajfa-14920	196	68	0.4276	0.4276	NUM
ajfa-14920	196	69	0.0723	0.0723	NUM
ajfa-14920	196	70	0.0414	0.0414	NUM
ajfa-14920	196	71	-0.1252	-0.1252	NOUN
ajfa-14920	197	1	0.3805	0.3805	NUM
ajfa-14920	197	2	0.0837	0.0837	NUM
ajfa-14920	197	3	0.0534	0.0534	NUM
ajfa-14920	197	4	-0.0802	-0.0802	NOUN
ajfa-14920	198	1	0.4276	0.4276	NUM
ajfa-14920	198	2	5.833	5.833	NUM
ajfa-14920	198	3	*	*	PUNCT
ajfa-14920	198	4	*	*	PUNCT
ajfa-14920	198	5	*	*	PUNCT
ajfa-14920	198	6	lon	lon	PROPN
ajfa-14920	198	7	0.1624	0.1624	NUM
ajfa-14920	198	8	0.1696	0.1696	NUM
ajfa-14920	198	9	0.0000	0.0000	NUM
ajfa-14920	198	10	0.7533	0.7533	NUM
ajfa-14920	198	11	0.2212	0.2212	NUM
ajfa-14920	198	12	0.1900	0.1900	NUM
ajfa-14920	198	13	0.0002	0.0002	NUM
ajfa-14920	198	14	0.7475	0.7475	NUM
ajfa-14920	198	15	0.1205	0.1205	NUM
ajfa-14920	198	16	0.1390	0.1390	NUM
ajfa-14920	198	17	0.0000	0.0000	NUM
ajfa-14920	198	18	0.7533	0.7533	NUM
ajfa-14920	198	19	-16.750	-16.750	X
ajfa-14920	198	20	*	*	PUNCT
ajfa-14920	198	21	*	*	PUNCT
ajfa-14920	198	22	*	*	PUNCT
ajfa-14920	198	23	growth	growth	NOUN
ajfa-14920	198	24	0.1565	0.1565	NUM
ajfa-14920	198	25	0.2665	0.2665	NUM
ajfa-14920	198	26	-0.5436	-0.5436	NOUN
ajfa-14920	198	27	4.4291	4.4291	NUM
ajfa-14920	198	28	0.1097	0.1097	NUM
ajfa-14920	198	29	0.2276	0.2276	NUM
ajfa-14920	198	30	-0.5418	-0.5418	NOUN
ajfa-14920	199	1	3.8940	3.8940	NUM
ajfa-14920	199	2	0.1900	0.1900	NUM
ajfa-14920	199	3	0.2865	0.2865	NUM
ajfa-14920	199	4	-0.5436	-0.5436	NOUN
ajfa-14920	199	5	4.4291	4.4291	NUM
ajfa-14920	199	6	9.525	9.525	NUM
ajfa-14920	199	7	*	*	PUNCT
ajfa-14920	199	8	*	*	PUNCT
ajfa-14920	199	9	*	*	PROPN
ajfa-14920	199	10	ncsp	ncsp	PROPN
ajfa-14920	199	11	0.5971	0.5971	NUM
ajfa-14920	199	12	0.1523	0.1523	NUM
ajfa-14920	199	13	0.1272	0.1272	NUM
ajfa-14920	199	14	1.0116	1.0116	NUM
ajfa-14920	199	15	0.6170	0.6170	NUM
ajfa-14920	199	16	0.1535	0.1535	NUM
ajfa-14920	199	17	0.1745	0.1745	NUM
ajfa-14920	199	18	1.0116	1.0116	NUM
ajfa-14920	199	19	0.5829	0.5829	NUM
ajfa-14920	199	20	0.1499	0.1499	NUM
ajfa-14920	199	21	0.1272	0.1272	NUM
ajfa-14920	199	22	0.9559	0.9559	NUM
ajfa-14920	199	23	-5.134	-5.134	NUM
ajfa-14920	199	24	*	*	PUNCT
ajfa-14920	199	25	*	*	PUNCT
ajfa-14920	199	26	*	*	PUNCT
ajfa-14920	199	27	asi	asi	NOUN
ajfa-14920	199	28	0.3303	0.3303	NUM
ajfa-14920	199	29	0.1904	0.1904	NUM
ajfa-14920	199	30	0.0080	0.0080	NUM
ajfa-14920	199	31	0.9265	0.9265	NUM
ajfa-14920	199	32	0.3601	0.3601	NUM
ajfa-14920	199	33	0.2215	0.2215	NUM
ajfa-14920	199	34	0.0095	0.0095	NUM
ajfa-14920	199	35	0.9265	0.9265	NUM
ajfa-14920	199	36	0.3090	0.3090	NUM
ajfa-14920	199	37	0.1615	0.1615	NUM
ajfa-14920	199	38	0.0080	0.0080	NUM
ajfa-14920	199	39	0.8570	0.8570	NUM
ajfa-14920	199	40	-4.850	-4.850	PUNCT
ajfa-14920	200	1	*	*	PUNCT
ajfa-14920	200	2	*	*	PUNCT
ajfa-14920	200	3	*	*	PUNCT
ajfa-14920	200	4	fm	fm	PROPN
ajfa-14920	200	5	1.0000	1.0000	NUM
ajfa-14920	200	6	2.1194	2.1194	NUM
ajfa-14920	200	7	-0.9595	-0.9595	NOUN
ajfa-14920	201	1	60.8417	60.8417	NUM
ajfa-14920	201	2	0.7148	0.7148	NUM
ajfa-14920	201	3	0.5945	0.5945	NUM
ajfa-14920	201	4	0.0001	0.0001	NUM
ajfa-14920	201	5	6.7000	6.7000	NUM
ajfa-14920	201	6	1.2035	1.2035	NUM
ajfa-14920	201	7	2.7104	2.7104	NUM
ajfa-14920	201	8	-0.9595	-0.9595	NOUN
ajfa-14920	201	9	60.8417	60.8417	NUM
ajfa-14920	201	10	5.729	5.729	NUM
ajfa-14920	201	11	*	*	PUNCT
ajfa-14920	201	12	*	*	PUNCT
ajfa-14920	201	13	*	*	PUNCT
ajfa-14920	201	14	sto	sto	PROPN
ajfa-14920	201	15	0.3651	0.3651	NUM
ajfa-14920	201	16	0.4383	0.4383	NUM
ajfa-14920	201	17	-0.5714	-0.5714	NOUN
ajfa-14920	201	18	10.2041	10.2041	NUM
ajfa-14920	201	19	0.3665	0.3665	NUM
ajfa-14920	201	20	0.5432	0.5432	NUM
ajfa-14920	201	21	-0.5000	-0.5000	PUNCT
ajfa-14920	201	22	10.2041	10.2041	NUM
ajfa-14920	201	23	0.3640	0.3640	NUM
ajfa-14920	201	24	0.3447	0.3447	NUM
ajfa-14920	201	25	-0.5714	-0.5714	NOUN
ajfa-14920	201	26	5.0000	5.0000	NUM
ajfa-14920	201	27	0.226	0.226	NUM
ajfa-14920	201	28	size	size	NOUN
ajfa-14920	201	29	22.7019	22.7019	NUM
ajfa-14920	201	30	1.3533	1.3533	NUM
ajfa-14920	201	31	19.8104	19.8104	NUM
ajfa-14920	201	32	28.5087	28.5087	NUM
ajfa-14920	201	33	23.3615	23.3615	NUM
ajfa-14920	201	34	1.4151	1.4151	NUM
ajfa-14920	201	35	20.6897	20.6897	NUM
ajfa-14920	201	36	28.5087	28.5087	NUM
ajfa-14920	201	37	22.2314	22.2314	NUM
ajfa-14920	202	1	1.0855	1.0855	NUM
ajfa-14920	202	2	19.8104	19.8104	NUM
ajfa-14920	202	3	26.6525	26.6525	NUM
ajfa-14920	202	4	-23.620	-23.620	NOUN
ajfa-14920	202	5	*	*	PUNCT
ajfa-14920	202	6	*	*	PUNCT
ajfa-14920	202	7	*	*	PUNCT
ajfa-14920	202	8	tax	tax	NOUN
ajfa-14920	202	9	0.1197	0.1197	NUM
ajfa-14920	202	10	0.1041	0.1041	NUM
ajfa-14920	202	11	0.0017	0.0017	NUM
ajfa-14920	202	12	0.6939	0.6939	NUM
ajfa-14920	202	13	0.1407	0.1407	NUM
ajfa-14920	202	14	0.1185	0.1185	NUM
ajfa-14920	202	15	0.0037	0.0037	NUM
ajfa-14920	202	16	0.6939	0.6939	NUM
ajfa-14920	202	17	0.1048	0.1048	NUM
ajfa-14920	202	18	0.0895	0.0895	NUM
ajfa-14920	202	19	0.0017	0.0017	NUM
ajfa-14920	202	20	0.6722	0.6722	NUM
ajfa-14920	202	21	-9.017	-9.017	NOUN
ajfa-14920	202	22	*	*	PUNCT
ajfa-14920	202	23	*	*	PUNCT
ajfa-14920	202	24	*	*	PUNCT
ajfa-14920	202	25	4.2	4.2	NUM
ajfa-14920	202	26	empirical	empirical	ADJ
ajfa-14920	202	27	analysis	analysis	NOUN
ajfa-14920	202	28	of	of	ADP
ajfa-14920	202	29	hypothesizes	hypothesize	NOUN
ajfa-14920	202	30	,	,	PUNCT
ajfa-14920	202	31	based	base	VERB
ajfa-14920	202	32	on	on	ADP
ajfa-14920	202	33	panel	panel	NOUN
ajfa-14920	202	34	data	data	VERB
ajfa-14920	202	35	the	the	DET
ajfa-14920	202	36	data	datum	NOUN
ajfa-14920	202	37	used	use	VERB
ajfa-14920	202	38	in	in	ADP
ajfa-14920	202	39	this	this	DET
ajfa-14920	202	40	paper	paper	NOUN
ajfa-14920	202	41	are	be	AUX
ajfa-14920	202	42	short	short	ADJ
ajfa-14920	202	43	panel	panel	NOUN
ajfa-14920	202	44	data	datum	NOUN
ajfa-14920	202	45	.	.	PUNCT
ajfa-14920	203	1	the	the	DET
ajfa-14920	203	2	unit	unit	NOUN
ajfa-14920	203	3	root	root	PROPN
ajfa-14920	203	4	test	test	NOUN
ajfa-14920	203	5	results	result	NOUN
ajfa-14920	203	6	show	show	VERB
ajfa-14920	203	7	that	that	SCONJ
ajfa-14920	203	8	all	all	DET
ajfa-14920	203	9	variables	variable	NOUN
ajfa-14920	203	10	appear	appear	VERB
ajfa-14920	203	11	to	to	PART
ajfa-14920	203	12	have	have	VERB
ajfa-14920	203	13	no	no	DET
ajfa-14920	203	14	unit	unit	NOUN
ajfa-14920	203	15	roots	root	NOUN
ajfa-14920	203	16	.	.	PUNCT
ajfa-14920	204	1	therefore	therefore	ADV
ajfa-14920	204	2	,	,	PUNCT
ajfa-14920	204	3	this	this	DET
ajfa-14920	204	4	paper	paper	NOUN
ajfa-14920	204	5	does	do	AUX
ajfa-14920	204	6	not	not	PART
ajfa-14920	204	7	need	need	VERB
ajfa-14920	204	8	to	to	PART
ajfa-14920	204	9	do	do	VERB
ajfa-14920	204	10	cointegration	cointegration	NOUN
ajfa-14920	204	11	test	test	NOUN
ajfa-14920	204	12	for	for	ADP
ajfa-14920	204	13	non	non	ADJ
ajfa-14920	204	14	-	-	ADJ
ajfa-14920	204	15	stationary	stationary	ADJ
ajfa-14920	204	16	economic	economic	ADJ
ajfa-14920	204	17	variables	variable	NOUN
ajfa-14920	204	18	.	.	PUNCT
ajfa-14920	205	1	for	for	ADP
ajfa-14920	205	2	the	the	DET
ajfa-14920	205	3	selection	selection	NOUN
ajfa-14920	205	4	of	of	ADP
ajfa-14920	205	5	models	model	NOUN
ajfa-14920	205	6	,	,	PUNCT
ajfa-14920	205	7	the	the	DET
ajfa-14920	205	8	fixed	fix	VERB
ajfa-14920	205	9	effect	effect	NOUN
ajfa-14920	205	10	model	model	NOUN
ajfa-14920	205	11	is	be	AUX
ajfa-14920	205	12	selected	select	VERB
ajfa-14920	205	13	for	for	ADP
ajfa-14920	205	14	regression	regression	NOUN
ajfa-14920	205	15	analysis	analysis	NOUN
ajfa-14920	205	16	.	.	PUNCT
ajfa-14920	206	1	for	for	ADP
ajfa-14920	206	2	crosssectional	crosssectional	ADJ
ajfa-14920	206	3	correlation	correlation	NOUN
ajfa-14920	206	4	testing	testing	NOUN
ajfa-14920	206	5	,	,	PUNCT
ajfa-14920	206	6	the	the	DET
ajfa-14920	206	7	test	test	NOUN
ajfa-14920	206	8	result	result	NOUN
ajfa-14920	206	9	shows	show	VERB
ajfa-14920	206	10	that	that	SCONJ
ajfa-14920	206	11	there	there	PRON
ajfa-14920	206	12	is	be	VERB
ajfa-14920	206	13	no	no	DET
ajfa-14920	206	14	cross	cross	ADJ
ajfa-14920	206	15	-	-	ADJ
ajfa-14920	206	16	sectional	sectional	ADJ
ajfa-14920	206	17	dependency	dependency	NOUN
ajfa-14920	206	18	in	in	ADP
ajfa-14920	206	19	the	the	DET
ajfa-14920	206	20	panel	panel	NOUN
ajfa-14920	206	21	data	datum	NOUN
ajfa-14920	206	22	.	.	PUNCT
ajfa-14920	207	1	for	for	ADP
ajfa-14920	207	2	heteroskedasticity	heteroskedasticity	NOUN
ajfa-14920	207	3	testing	testing	NOUN
ajfa-14920	207	4	,	,	PUNCT
ajfa-14920	207	5	the	the	DET
ajfa-14920	207	6	final	final	ADJ
ajfa-14920	207	7	result	result	NOUN
ajfa-14920	207	8	shows	show	VERB
ajfa-14920	207	9	that	that	SCONJ
ajfa-14920	207	10	the	the	DET
ajfa-14920	207	11	heteroskedasticity	heteroskedasticity	NOUN
ajfa-14920	207	12	of	of	ADP
ajfa-14920	207	13	the	the	DET
ajfa-14920	207	14	panel	panel	NOUN
ajfa-14920	207	15	data	datum	NOUN
ajfa-14920	207	16	collected	collect	VERB
ajfa-14920	207	17	in	in	ADP
ajfa-14920	207	18	this	this	DET
ajfa-14920	207	19	paper	paper	NOUN
ajfa-14920	207	20	is	be	AUX
ajfa-14920	207	21	very	very	ADV
ajfa-14920	207	22	significant	significant	ADJ
ajfa-14920	207	23	.	.	PUNCT
ajfa-14920	208	1	therefore	therefore	ADV
ajfa-14920	208	2	,	,	PUNCT
ajfa-14920	208	3	this	this	DET
ajfa-14920	208	4	paper	paper	NOUN
ajfa-14920	208	5	finally	finally	ADV
ajfa-14920	208	6	chooses	choose	VERB
ajfa-14920	208	7	the	the	DET
ajfa-14920	208	8	fixed	fix	VERB
ajfa-14920	208	9	effect	effect	NOUN
ajfa-14920	208	10	model	model	NOUN
ajfa-14920	208	11	that	that	PRON
ajfa-14920	208	12	controls	control	VERB
ajfa-14920	208	13	heteroskedasticity	heteroskedasticity	NOUN
ajfa-14920	208	14	.	.	PUNCT
ajfa-14920	209	1	all	all	DET
ajfa-14920	209	2	the	the	DET
ajfa-14920	209	3	samples	sample	NOUN
ajfa-14920	209	4	are	be	AUX
ajfa-14920	209	5	winsorized	winsorize	VERB
ajfa-14920	209	6	.	.	PUNCT
ajfa-14920	210	1	4.2.1	4.2.1	NUM
ajfa-14920	210	2	financial	financial	ADJ
ajfa-14920	210	3	mismatch	mismatch	NOUN
ajfa-14920	210	4	the	the	DET
ajfa-14920	210	5	model(1	model(1	NOUN
ajfa-14920	210	6	)	)	PUNCT
ajfa-14920	210	7	regression	regression	NOUN
ajfa-14920	210	8	results	result	NOUN
ajfa-14920	210	9	are	be	AUX
ajfa-14920	210	10	shown	show	VERB
ajfa-14920	210	11	in	in	ADP
ajfa-14920	210	12	the	the	DET
ajfa-14920	210	13	table	table	NOUN
ajfa-14920	210	14	5	5	NUM
ajfa-14920	210	15	,	,	PUNCT
ajfa-14920	210	16	asian	asian	ADJ
ajfa-14920	210	17	journal	journal	NOUN
ajfa-14920	210	18	of	of	ADP
ajfa-14920	210	19	finance	finance	PROPN
ajfa-14920	210	20	&	&	CCONJ
ajfa-14920	210	21	accounting	accounting	PROPN
ajfa-14920	210	22	issn	issn	PROPN
ajfa-14920	210	23	1946	1946	NUM
ajfa-14920	210	24	-	-	PUNCT
ajfa-14920	210	25	052x	052x	PROPN
ajfa-14920	210	26	2019	2019	NUM
ajfa-14920	210	27	,	,	PUNCT
ajfa-14920	210	28	vol	vol	NOUN
ajfa-14920	210	29	.	.	PROPN
ajfa-14920	211	1	11	11	NUM
ajfa-14920	211	2	,	,	PUNCT
ajfa-14920	211	3	no	no	INTJ
ajfa-14920	211	4	.	.	NOUN
ajfa-14920	211	5	2	2	NUM
ajfa-14920	211	6	ajfa.macrothink.org/	ajfa.macrothink.org/	NOUN
ajfa-14920	211	7	248	248	NUM
ajfa-14920	211	8	table	table	NOUN
ajfa-14920	211	9	5	5	NUM
ajfa-14920	211	10	.	.	PUNCT
ajfa-14920	212	1	financial	financial	ADJ
ajfa-14920	212	2	mismatch	mismatch	NOUN
ajfa-14920	212	3	variables	variable	NOUN
ajfa-14920	212	4	fixed	fix	VERB
ajfa-14920	212	5	-	-	PUNCT
ajfa-14920	212	6	effect	effect	NOUN
ajfa-14920	212	7	whole	whole	ADJ
ajfa-14920	212	8	samples	sample	NOUN
ajfa-14920	212	9	sub	sub	ADJ
ajfa-14920	212	10	-	-	ADJ
ajfa-14920	212	11	samples	sample	NOUN
ajfa-14920	212	12	state	state	NOUN
ajfa-14920	212	13	-	-	PUNCT
ajfa-14920	212	14	owned	own	VERB
ajfa-14920	212	15	private	private	ADJ
ajfa-14920	212	16	lon	lon	NOUN
ajfa-14920	212	17	-0.0701	-0.0701	X
ajfa-14920	212	18	*	*	PUNCT
ajfa-14920	212	19	*	*	PUNCT
ajfa-14920	212	20	*	*	PUNCT
ajfa-14920	212	21	-0.0724	-0.0724	NOUN
ajfa-14920	212	22	*	*	PUNCT
ajfa-14920	212	23	*	*	PUNCT
ajfa-14920	212	24	*	*	NOUN
ajfa-14920	212	25	-0.0714	-0.0714	NOUN
ajfa-14920	212	26	*	*	PUNCT
ajfa-14920	212	27	*	*	PUNCT
ajfa-14920	212	28	*	*	PUNCT
ajfa-14920	212	29	(	(	PUNCT
ajfa-14920	212	30	-6.97	-6.97	NOUN
ajfa-14920	212	31	)	)	PUNCT
ajfa-14920	212	32	(	(	PUNCT
ajfa-14920	212	33	-5.43	-5.43	NUM
ajfa-14920	212	34	)	)	PUNCT
ajfa-14920	212	35	(	(	PUNCT
ajfa-14920	212	36	-4.57	-4.57	X
ajfa-14920	212	37	)	)	PUNCT
ajfa-14920	212	38	fm	fm	PROPN
ajfa-14920	212	39	-0.00193	-0.00193	PROPN
ajfa-14920	212	40	*	*	PUNCT
ajfa-14920	212	41	*	*	PUNCT
ajfa-14920	212	42	-0.00233	-0.00233	ADJ
ajfa-14920	212	43	-0.00157	-0.00157	NOUN
ajfa-14920	212	44	(	(	PUNCT
ajfa-14920	212	45	-2.07	-2.07	NUM
ajfa-14920	212	46	)	)	PUNCT
ajfa-14920	212	47	(	(	PUNCT
ajfa-14920	212	48	-0.76	-0.76	PROPN
ajfa-14920	212	49	)	)	PUNCT
ajfa-14920	212	50	(	(	PUNCT
ajfa-14920	212	51	-1.55	-1.55	X
ajfa-14920	212	52	)	)	PUNCT
ajfa-14920	212	53	fmlon	fmlon	NOUN
ajfa-14920	212	54	0.0269	0.0269	NUM
ajfa-14920	212	55	*	*	PUNCT
ajfa-14920	212	56	*	*	PUNCT
ajfa-14920	212	57	*	*	PUNCT
ajfa-14920	212	58	0.0330	0.0330	NUM
ajfa-14920	212	59	*	*	NOUN
ajfa-14920	212	60	*	*	PUNCT
ajfa-14920	212	61	0.0280	0.0280	NUM
ajfa-14920	212	62	*	*	NOUN
ajfa-14920	212	63	*	*	PUNCT
ajfa-14920	212	64	(	(	PUNCT
ajfa-14920	212	65	2.97	2.97	NUM
ajfa-14920	212	66	)	)	PUNCT
ajfa-14920	212	67	(	(	PUNCT
ajfa-14920	212	68	2.34	2.34	NUM
ajfa-14920	212	69	)	)	PUNCT
ajfa-14920	212	70	(	(	PUNCT
ajfa-14920	212	71	2.06	2.06	NUM
ajfa-14920	212	72	)	)	PUNCT
ajfa-14920	212	73	size	size	NOUN
ajfa-14920	213	1	0.00412	0.00412	NUM
ajfa-14920	213	2	0.00306	0.00306	NUM
ajfa-14920	213	3	0.000771	0.000771	NUM
ajfa-14920	213	4	(	(	PUNCT
ajfa-14920	213	5	0.98	0.98	NUM
ajfa-14920	213	6	)	)	PUNCT
ajfa-14920	213	7	(	(	PUNCT
ajfa-14920	213	8	0.60	0.60	NUM
ajfa-14920	213	9	)	)	PUNCT
ajfa-14920	213	10	(	(	PUNCT
ajfa-14920	213	11	0.13	0.13	NUM
ajfa-14920	213	12	)	)	PUNCT
ajfa-14920	213	13	growth	growth	NOUN
ajfa-14920	213	14	0.0278	0.0278	NUM
ajfa-14920	213	15	*	*	PUNCT
ajfa-14920	213	16	*	*	PUNCT
ajfa-14920	213	17	*	*	PUNCT
ajfa-14920	213	18	0.0200	0.0200	NUM
ajfa-14920	213	19	*	*	PUNCT
ajfa-14920	213	20	*	*	PUNCT
ajfa-14920	213	21	*	*	PUNCT
ajfa-14920	213	22	0.0318	0.0318	NUM
ajfa-14920	213	23	*	*	PUNCT
ajfa-14920	213	24	*	*	PUNCT
ajfa-14920	213	25	*	*	PUNCT
ajfa-14920	213	26	(	(	PUNCT
ajfa-14920	213	27	8.14	8.14	NUM
ajfa-14920	213	28	)	)	PUNCT
ajfa-14920	213	29	(	(	PUNCT
ajfa-14920	213	30	5.39	5.39	NUM
ajfa-14920	213	31	)	)	PUNCT
ajfa-14920	213	32	(	(	PUNCT
ajfa-14920	213	33	6.56	6.56	NUM
ajfa-14920	213	34	)	)	PUNCT
ajfa-14920	213	35	ncsp	ncsp	NOUN
ajfa-14920	213	36	0.0238	0.0238	NUM
ajfa-14920	213	37	*	*	PUNCT
ajfa-14920	213	38	0.0371	0.0371	NUM
ajfa-14920	213	39	*	*	NOUN
ajfa-14920	213	40	0.0257	0.0257	NUM
ajfa-14920	213	41	(	(	PUNCT
ajfa-14920	213	42	1.82	1.82	NUM
ajfa-14920	213	43	)	)	PUNCT
ajfa-14920	213	44	(	(	PUNCT
ajfa-14920	213	45	1.89	1.89	NUM
ajfa-14920	213	46	)	)	PUNCT
ajfa-14920	213	47	(	(	PUNCT
ajfa-14920	213	48	1.50	1.50	NUM
ajfa-14920	213	49	)	)	PUNCT
ajfa-14920	213	50	sto	sto	NOUN
ajfa-14920	213	51	-0.0336	-0.0336	PROPN
ajfa-14920	213	52	*	*	PUNCT
ajfa-14920	214	1	*	*	PUNCT
ajfa-14920	214	2	*	*	PUNCT
ajfa-14920	214	3	-0.0251	-0.0251	NOUN
ajfa-14920	214	4	*	*	PUNCT
ajfa-14920	214	5	*	*	PUNCT
ajfa-14920	214	6	*	*	PUNCT
ajfa-14920	214	7	-0.0367	-0.0367	NOUN
ajfa-14920	214	8	*	*	PUNCT
ajfa-14920	214	9	*	*	PUNCT
ajfa-14920	214	10	*	*	PUNCT
ajfa-14920	214	11	(	(	PUNCT
ajfa-14920	214	12	-9.39	-9.39	NUM
ajfa-14920	214	13	)	)	PUNCT
ajfa-14920	214	14	(	(	PUNCT
ajfa-14920	214	15	-6.08	-6.08	NUM
ajfa-14920	214	16	)	)	PUNCT
ajfa-14920	214	17	(	(	PUNCT
ajfa-14920	214	18	-7.71	-7.71	NOUN
ajfa-14920	214	19	)	)	PUNCT
ajfa-14920	214	20	tax	tax	NOUN
ajfa-14920	214	21	-0.00278	-0.00278	NOUN
ajfa-14920	214	22	0.00894	0.00894	NUM
ajfa-14920	214	23	-0.0405	-0.0405	NOUN
ajfa-14920	214	24	(	(	PUNCT
ajfa-14920	214	25	-0.08	-0.08	NUM
ajfa-14920	214	26	)	)	PUNCT
ajfa-14920	214	27	(	(	PUNCT
ajfa-14920	214	28	0.18	0.18	NUM
ajfa-14920	214	29	)	)	PUNCT
ajfa-14920	214	30	(	(	PUNCT
ajfa-14920	214	31	-0.83	-0.83	X
ajfa-14920	214	32	)	)	PUNCT
ajfa-14920	214	33	_	_	NOUN
ajfa-14920	214	34	cons	con	NOUN
ajfa-14920	214	35	-0.00388	-0.00388	X
ajfa-14920	215	1	0.00623	0.00623	NUM
ajfa-14920	215	2	0.0735	0.0735	NUM
ajfa-14920	215	3	(	(	PUNCT
ajfa-14920	215	4	-0.04	-0.04	NUM
ajfa-14920	215	5	)	)	PUNCT
ajfa-14920	215	6	(	(	PUNCT
ajfa-14920	215	7	0.05	0.05	NUM
ajfa-14920	215	8	)	)	PUNCT
ajfa-14920	215	9	(	(	PUNCT
ajfa-14920	215	10	0.55	0.55	NUM
ajfa-14920	215	11	)	)	PUNCT
ajfa-14920	215	12	industry	industry	NOUN
ajfa-14920	216	1	yes	yes	INTJ
ajfa-14920	217	1	yes	yes	INTJ
ajfa-14920	218	1	yes	yes	INTJ
ajfa-14920	218	2	year	year	NOUN
ajfa-14920	219	1	yes	yes	INTJ
ajfa-14920	220	1	yes	yes	INTJ
ajfa-14920	221	1	yes	yes	INTJ
ajfa-14920	222	1	n	n	CCONJ
ajfa-14920	222	2	3300	3300	NUM
ajfa-14920	222	3	1374	1374	NUM
ajfa-14920	222	4	1926	1926	NUM
ajfa-14920	223	1	r²	r²	VERB
ajfa-14920	223	2	0.153	0.153	NUM
ajfa-14920	223	3	0.209	0.209	NUM
ajfa-14920	223	4	0.145	0.145	NUM
ajfa-14920	223	5	t	t	NOUN
ajfa-14920	223	6	statistics	statistic	NOUN
ajfa-14920	223	7	in	in	ADP
ajfa-14920	223	8	parentheses	parenthesis	NOUN
ajfa-14920	223	9	*	*	PUNCT
ajfa-14920	223	10	p	p	X
ajfa-14920	223	11	<	<	X
ajfa-14920	223	12	.1	.1	PROPN
ajfa-14920	223	13	,	,	PUNCT
ajfa-14920	223	14	*	*	PUNCT
ajfa-14920	223	15	*	*	PUNCT
ajfa-14920	224	1	p	p	X
ajfa-14920	224	2	<	<	X
ajfa-14920	224	3	.05	.05	NUM
ajfa-14920	224	4	,	,	PUNCT
ajfa-14920	224	5	*	*	PUNCT
ajfa-14920	224	6	*	*	PUNCT
ajfa-14920	224	7	*	*	PUNCT
ajfa-14920	224	8	p	p	X
ajfa-14920	224	9	<	<	X
ajfa-14920	224	10	.01	.01	NUM
ajfa-14920	224	11	in	in	ADP
ajfa-14920	224	12	fixed	fix	VERB
ajfa-14920	224	13	-	-	PUNCT
ajfa-14920	224	14	effect	effect	NOUN
ajfa-14920	224	15	model	model	NOUN
ajfa-14920	224	16	,	,	PUNCT
ajfa-14920	224	17	the	the	DET
ajfa-14920	224	18	whole	whole	ADJ
ajfa-14920	224	19	sample	sample	NOUN
ajfa-14920	224	20	presents	present	VERB
ajfa-14920	224	21	significant	significant	ADJ
ajfa-14920	224	22	economic	economic	ADJ
ajfa-14920	224	23	issues	issue	NOUN
ajfa-14920	224	24	of	of	ADP
ajfa-14920	224	25	financial	financial	ADJ
ajfa-14920	224	26	mismatch	mismatch	NOUN
ajfa-14920	224	27	,	,	PUNCT
ajfa-14920	224	28	and	and	CCONJ
ajfa-14920	224	29	the	the	DET
ajfa-14920	224	30	long	long	ADJ
ajfa-14920	224	31	-	-	PUNCT
ajfa-14920	224	32	term	term	NOUN
ajfa-14920	224	33	debt	debt	NOUN
ajfa-14920	224	34	ratio	ratio	NOUN
ajfa-14920	224	35	is	be	AUX
ajfa-14920	224	36	significantly	significantly	ADV
ajfa-14920	224	37	negatively	negatively	ADV
ajfa-14920	224	38	correlated	correlate	VERB
ajfa-14920	224	39	with	with	ADP
ajfa-14920	224	40	the	the	DET
ajfa-14920	224	41	return	return	NOUN
ajfa-14920	224	42	on	on	ADP
ajfa-14920	224	43	total	total	ADJ
ajfa-14920	224	44	assets	asset	NOUN
ajfa-14920	224	45	at	at	ADP
ajfa-14920	224	46	5	5	NUM
ajfa-14920	224	47	%	%	NOUN
ajfa-14920	224	48	significance	significance	NOUN
ajfa-14920	224	49	level	level	NOUN
ajfa-14920	224	50	.	.	PUNCT
ajfa-14920	225	1	this	this	PRON
ajfa-14920	225	2	can	can	AUX
ajfa-14920	225	3	be	be	AUX
ajfa-14920	225	4	understood	understand	VERB
ajfa-14920	225	5	as	as	ADP
ajfa-14920	225	6	the	the	DET
ajfa-14920	225	7	fact	fact	NOUN
ajfa-14920	225	8	that	that	SCONJ
ajfa-14920	225	9	among	among	ADP
ajfa-14920	225	10	the	the	DET
ajfa-14920	225	11	listed	list	VERB
ajfa-14920	225	12	companies	company	NOUN
ajfa-14920	225	13	in	in	ADP
ajfa-14920	225	14	china	china	PROPN
ajfa-14920	225	15	,	,	PUNCT
ajfa-14920	225	16	enterprises	enterprise	NOUN
ajfa-14920	225	17	with	with	ADP
ajfa-14920	225	18	more	more	ADJ
ajfa-14920	225	19	debt	debt	NOUN
ajfa-14920	225	20	capital	capital	NOUN
ajfa-14920	225	21	have	have	AUX
ajfa-14920	225	22	not	not	PART
ajfa-14920	225	23	achieved	achieve	VERB
ajfa-14920	225	24	higher	high	ADJ
ajfa-14920	225	25	efficiency	efficiency	NOUN
ajfa-14920	225	26	,	,	PUNCT
ajfa-14920	225	27	resulting	result	VERB
ajfa-14920	225	28	in	in	ADP
ajfa-14920	225	29	inefficient	inefficient	ADJ
ajfa-14920	225	30	allocation	allocation	NOUN
ajfa-14920	225	31	of	of	ADP
ajfa-14920	225	32	financial	financial	ADJ
ajfa-14920	225	33	resources	resource	NOUN
ajfa-14920	225	34	,	,	PUNCT
ajfa-14920	225	35	which	which	PRON
ajfa-14920	225	36	also	also	ADV
ajfa-14920	225	37	confirms	confirm	VERB
ajfa-14920	225	38	the	the	DET
ajfa-14920	225	39	research	research	NOUN
ajfa-14920	225	40	asian	asian	ADJ
ajfa-14920	225	41	journal	journal	NOUN
ajfa-14920	225	42	of	of	ADP
ajfa-14920	225	43	finance	finance	PROPN
ajfa-14920	225	44	&	&	CCONJ
ajfa-14920	225	45	accounting	accounting	PROPN
ajfa-14920	225	46	issn	issn	PROPN
ajfa-14920	225	47	1946	1946	NUM
ajfa-14920	225	48	-	-	PUNCT
ajfa-14920	225	49	052x	052x	PROPN
ajfa-14920	225	50	2019	2019	NUM
ajfa-14920	225	51	,	,	PUNCT
ajfa-14920	225	52	vol	vol	NOUN
ajfa-14920	225	53	.	.	PROPN
ajfa-14920	225	54	11	11	NUM
ajfa-14920	225	55	,	,	PUNCT
ajfa-14920	225	56	no	no	INTJ
ajfa-14920	225	57	.	.	NOUN
ajfa-14920	225	58	2	2	NUM
ajfa-14920	225	59	ajfa.macrothink.org/	ajfa.macrothink.org/	NOUN
ajfa-14920	225	60	249	249	NUM
ajfa-14920	225	61	findings	finding	NOUN
ajfa-14920	225	62	of	of	ADP
ajfa-14920	225	63	yu	yu	PROPN
ajfa-14920	225	64	(	(	PUNCT
ajfa-14920	225	65	2003	2003	NUM
ajfa-14920	225	66	)	)	PUNCT
ajfa-14920	225	67	and	and	CCONJ
ajfa-14920	225	68	xiao	xiao	PROPN
ajfa-14920	225	69	(	(	PUNCT
ajfa-14920	225	70	2005	2005	NUM
ajfa-14920	225	71	)	)	PUNCT
ajfa-14920	225	72	.	.	PUNCT
ajfa-14920	226	1	in	in	ADP
ajfa-14920	226	2	the	the	DET
ajfa-14920	226	3	sample	sample	NOUN
ajfa-14920	226	4	of	of	ADP
ajfa-14920	226	5	state	state	NOUN
ajfa-14920	226	6	-	-	PUNCT
ajfa-14920	226	7	controlled	control	VERB
ajfa-14920	226	8	listed	list	VERB
ajfa-14920	226	9	companies	company	NOUN
ajfa-14920	226	10	,	,	PUNCT
ajfa-14920	226	11	the	the	DET
ajfa-14920	226	12	long	long	ADJ
ajfa-14920	226	13	-	-	PUNCT
ajfa-14920	226	14	term	term	NOUN
ajfa-14920	226	15	debt	debt	NOUN
ajfa-14920	226	16	ratio	ratio	NOUN
ajfa-14920	226	17	and	and	CCONJ
ajfa-14920	226	18	the	the	DET
ajfa-14920	226	19	return	return	NOUN
ajfa-14920	226	20	on	on	ADP
ajfa-14920	226	21	total	total	ADJ
ajfa-14920	226	22	assets	asset	NOUN
ajfa-14920	226	23	were	be	AUX
ajfa-14920	226	24	significantly	significantly	ADV
ajfa-14920	226	25	negatively	negatively	ADV
ajfa-14920	226	26	correlated	correlate	VERB
ajfa-14920	226	27	at	at	ADP
ajfa-14920	226	28	the	the	DET
ajfa-14920	226	29	1	1	NUM
ajfa-14920	226	30	%	%	NOUN
ajfa-14920	226	31	significance	significance	NOUN
ajfa-14920	226	32	level	level	NOUN
ajfa-14920	226	33	,	,	PUNCT
ajfa-14920	226	34	indicating	indicate	VERB
ajfa-14920	226	35	that	that	SCONJ
ajfa-14920	226	36	there	there	PRON
ajfa-14920	226	37	are	be	VERB
ajfa-14920	226	38	also	also	ADV
ajfa-14920	226	39	financial	financial	ADJ
ajfa-14920	226	40	mismatches	mismatch	NOUN
ajfa-14920	226	41	issues	issue	NOUN
ajfa-14920	226	42	in	in	ADP
ajfa-14920	226	43	statecontrolled	statecontrolled	ADJ
ajfa-14920	226	44	listed	list	VERB
ajfa-14920	226	45	companies	company	NOUN
ajfa-14920	226	46	.	.	PUNCT
ajfa-14920	227	1	the	the	DET
ajfa-14920	227	2	increase	increase	NOUN
ajfa-14920	227	3	in	in	ADP
ajfa-14920	227	4	liabilities	liability	NOUN
ajfa-14920	227	5	significantly	significantly	ADV
ajfa-14920	227	6	reduces	reduce	VERB
ajfa-14920	227	7	the	the	DET
ajfa-14920	227	8	performance	performance	NOUN
ajfa-14920	227	9	of	of	ADP
ajfa-14920	227	10	the	the	DET
ajfa-14920	227	11	company	company	NOUN
ajfa-14920	227	12	.	.	PUNCT
ajfa-14920	228	1	the	the	DET
ajfa-14920	228	2	increased	increase	VERB
ajfa-14920	228	3	claims	claim	NOUN
ajfa-14920	228	4	of	of	ADP
ajfa-14920	228	5	creditors	creditor	NOUN
ajfa-14920	228	6	encroach	encroach	VERB
ajfa-14920	228	7	the	the	DET
ajfa-14920	228	8	surplus	surplus	NOUN
ajfa-14920	228	9	of	of	ADP
ajfa-14920	228	10	the	the	DET
ajfa-14920	228	11	enterprise	enterprise	NOUN
ajfa-14920	228	12	,	,	PUNCT
ajfa-14920	228	13	and	and	CCONJ
ajfa-14920	228	14	the	the	DET
ajfa-14920	228	15	allocation	allocation	NOUN
ajfa-14920	228	16	of	of	ADP
ajfa-14920	228	17	debt	debt	NOUN
ajfa-14920	228	18	capital	capital	NOUN
ajfa-14920	228	19	pulls	pull	VERB
ajfa-14920	228	20	down	down	ADP
ajfa-14920	228	21	the	the	DET
ajfa-14920	228	22	operating	operating	NOUN
ajfa-14920	228	23	efficiency	efficiency	NOUN
ajfa-14920	228	24	.	.	PUNCT
ajfa-14920	229	1	in	in	ADP
ajfa-14920	229	2	the	the	DET
ajfa-14920	229	3	sample	sample	NOUN
ajfa-14920	229	4	of	of	ADP
ajfa-14920	229	5	private	private	ADJ
ajfa-14920	229	6	listed	list	VERB
ajfa-14920	229	7	companies	company	NOUN
ajfa-14920	229	8	,	,	PUNCT
ajfa-14920	229	9	the	the	DET
ajfa-14920	229	10	long	long	ADJ
ajfa-14920	229	11	-	-	PUNCT
ajfa-14920	229	12	term	term	NOUN
ajfa-14920	229	13	debt	debt	NOUN
ajfa-14920	229	14	ratio	ratio	NOUN
ajfa-14920	229	15	and	and	CCONJ
ajfa-14920	229	16	the	the	DET
ajfa-14920	229	17	return	return	NOUN
ajfa-14920	229	18	on	on	ADP
ajfa-14920	229	19	total	total	ADJ
ajfa-14920	229	20	assets	asset	NOUN
ajfa-14920	229	21	are	be	AUX
ajfa-14920	229	22	also	also	ADV
ajfa-14920	229	23	significantly	significantly	ADV
ajfa-14920	229	24	negatively	negatively	ADV
ajfa-14920	229	25	correlated	correlate	VERB
ajfa-14920	229	26	at	at	ADP
ajfa-14920	229	27	the	the	DET
ajfa-14920	229	28	level	level	NOUN
ajfa-14920	229	29	of	of	ADP
ajfa-14920	229	30	1	1	NUM
ajfa-14920	229	31	%	%	NOUN
ajfa-14920	229	32	.	.	PUNCT
ajfa-14920	230	1	the	the	DET
ajfa-14920	230	2	correlation	correlation	NOUN
ajfa-14920	230	3	coefficient	coefficient	NOUN
ajfa-14920	230	4	is	be	AUX
ajfa-14920	230	5	almost	almost	ADV
ajfa-14920	230	6	the	the	DET
ajfa-14920	230	7	same	same	ADJ
ajfa-14920	230	8	as	as	ADP
ajfa-14920	230	9	that	that	PRON
ajfa-14920	230	10	of	of	ADP
ajfa-14920	230	11	state	state	NOUN
ajfa-14920	230	12	-	-	PUNCT
ajfa-14920	230	13	owned	own	VERB
ajfa-14920	230	14	listed	list	VERB
ajfa-14920	230	15	companies	company	NOUN
ajfa-14920	230	16	,	,	PUNCT
ajfa-14920	230	17	which	which	PRON
ajfa-14920	230	18	reflects	reflect	VERB
ajfa-14920	230	19	the	the	DET
ajfa-14920	230	20	level	level	NOUN
ajfa-14920	230	21	of	of	ADP
ajfa-14920	230	22	financial	financial	ADJ
ajfa-14920	230	23	mismatch	mismatch	NOUN
ajfa-14920	230	24	of	of	ADP
ajfa-14920	230	25	private	private	ADJ
ajfa-14920	230	26	listed	list	VERB
ajfa-14920	230	27	companies	company	NOUN
ajfa-14920	230	28	is	be	AUX
ajfa-14920	230	29	similar	similar	ADJ
ajfa-14920	230	30	with	with	ADP
ajfa-14920	230	31	state	state	NOUN
ajfa-14920	230	32	-	-	PUNCT
ajfa-14920	230	33	owned	own	VERB
ajfa-14920	230	34	companies	company	NOUN
ajfa-14920	230	35	.	.	PUNCT
ajfa-14920	231	1	listed	list	VERB
ajfa-14920	231	2	companies	company	NOUN
ajfa-14920	231	3	with	with	ADP
ajfa-14920	231	4	more	more	ADJ
ajfa-14920	231	5	debt	debt	NOUN
ajfa-14920	231	6	capital	capital	NOUN
ajfa-14920	231	7	even	even	ADV
ajfa-14920	231	8	company	company	NOUN
ajfa-14920	231	9	with	with	ADP
ajfa-14920	231	10	lower	low	ADJ
ajfa-14920	231	11	performance	performance	NOUN
ajfa-14920	231	12	.	.	PUNCT
ajfa-14920	232	1	the	the	DET
ajfa-14920	232	2	phenomenon	phenomenon	NOUN
ajfa-14920	232	3	of	of	ADP
ajfa-14920	232	4	financial	financial	ADJ
ajfa-14920	232	5	mismatch	mismatch	NOUN
ajfa-14920	232	6	seriously	seriously	ADV
ajfa-14920	232	7	affects	affect	VERB
ajfa-14920	232	8	the	the	DET
ajfa-14920	232	9	efficiency	efficiency	NOUN
ajfa-14920	232	10	of	of	ADP
ajfa-14920	232	11	financial	financial	ADJ
ajfa-14920	232	12	resources	resource	NOUN
ajfa-14920	232	13	.	.	PUNCT
ajfa-14920	233	1	the	the	DET
ajfa-14920	233	2	regression	regression	NOUN
ajfa-14920	233	3	results	result	NOUN
ajfa-14920	233	4	partially	partially	ADV
ajfa-14920	233	5	support	support	VERB
ajfa-14920	233	6	the	the	DET
ajfa-14920	233	7	hypothesis	hypothesis	NOUN
ajfa-14920	233	8	1	1	NUM
ajfa-14920	233	9	of	of	ADP
ajfa-14920	233	10	this	this	DET
ajfa-14920	233	11	paper	paper	NOUN
ajfa-14920	233	12	,	,	PUNCT
ajfa-14920	233	13	that	that	ADV
ajfa-14920	233	14	is	is	ADV
ajfa-14920	233	15	,	,	PUNCT
ajfa-14920	233	16	the	the	DET
ajfa-14920	233	17	financial	financial	ADJ
ajfa-14920	233	18	mismatch	mismatch	NOUN
ajfa-14920	233	19	issue	issue	NOUN
ajfa-14920	233	20	significantly	significantly	ADV
ajfa-14920	233	21	exists	exist	VERB
ajfa-14920	233	22	in	in	ADP
ajfa-14920	233	23	listed	list	VERB
ajfa-14920	233	24	companies	company	NOUN
ajfa-14920	233	25	in	in	ADP
ajfa-14920	233	26	china	china	PROPN
ajfa-14920	233	27	,	,	PUNCT
ajfa-14920	233	28	but	but	CCONJ
ajfa-14920	233	29	the	the	DET
ajfa-14920	233	30	level	level	NOUN
ajfa-14920	233	31	of	of	ADP
ajfa-14920	233	32	financial	financial	ADJ
ajfa-14920	233	33	mismatch	mismatch	NOUN
ajfa-14920	233	34	of	of	ADP
ajfa-14920	233	35	state	state	NOUN
ajfa-14920	233	36	-	-	PUNCT
ajfa-14920	233	37	owned	own	VERB
ajfa-14920	233	38	enterprises	enterprise	NOUN
ajfa-14920	233	39	is	be	AUX
ajfa-14920	233	40	not	not	PART
ajfa-14920	233	41	significantly	significantly	ADV
ajfa-14920	233	42	higher	high	ADJ
ajfa-14920	233	43	than	than	ADP
ajfa-14920	233	44	that	that	PRON
ajfa-14920	233	45	of	of	ADP
ajfa-14920	233	46	private	private	ADJ
ajfa-14920	233	47	enterprises	enterprise	NOUN
ajfa-14920	233	48	.	.	PUNCT
ajfa-14920	234	1	meanwhile	meanwhile	ADV
ajfa-14920	234	2	,	,	PUNCT
ajfa-14920	234	3	the	the	DET
ajfa-14920	234	4	financial	financial	ADJ
ajfa-14920	234	5	mismatch	mismatch	NOUN
ajfa-14920	234	6	burden	burden	NOUN
ajfa-14920	234	7	level	level	NOUN
ajfa-14920	234	8	(	(	PUNCT
ajfa-14920	234	9	fm	fm	NOUN
ajfa-14920	234	10	)	)	PUNCT
ajfa-14920	234	11	of	of	ADP
ajfa-14920	234	12	enterprises	enterprise	NOUN
ajfa-14920	234	13	has	have	VERB
ajfa-14920	234	14	a	a	DET
ajfa-14920	234	15	significant	significant	ADJ
ajfa-14920	234	16	negative	negative	ADJ
ajfa-14920	234	17	correlation	correlation	NOUN
ajfa-14920	234	18	with	with	ADP
ajfa-14920	234	19	the	the	DET
ajfa-14920	234	20	return	return	NOUN
ajfa-14920	234	21	on	on	ADP
ajfa-14920	234	22	total	total	ADJ
ajfa-14920	234	23	assets	asset	NOUN
ajfa-14920	234	24	in	in	ADP
ajfa-14920	234	25	the	the	DET
ajfa-14920	234	26	total	total	ADJ
ajfa-14920	234	27	sample	sample	NOUN
ajfa-14920	234	28	,	,	PUNCT
ajfa-14920	234	29	which	which	PRON
ajfa-14920	234	30	is	be	AUX
ajfa-14920	234	31	contrary	contrary	ADJ
ajfa-14920	234	32	to	to	ADP
ajfa-14920	234	33	the	the	DET
ajfa-14920	234	34	research	research	NOUN
ajfa-14920	234	35	of	of	ADP
ajfa-14920	234	36	restuccia	restuccia	PROPN
ajfa-14920	234	37	and	and	CCONJ
ajfa-14920	234	38	rogerson	rogerson	NOUN
ajfa-14920	234	39	(	(	PUNCT
ajfa-14920	234	40	2007	2007	NUM
ajfa-14920	234	41	)	)	PUNCT
ajfa-14920	234	42	and	and	CCONJ
ajfa-14920	234	43	shao	shao	PROPN
ajfa-14920	234	44	(	(	PUNCT
ajfa-14920	234	45	2010	2010	NUM
ajfa-14920	234	46	)	)	PUNCT
ajfa-14920	234	47	.	.	PUNCT
ajfa-14920	235	1	on	on	ADP
ajfa-14920	235	2	the	the	DET
ajfa-14920	235	3	assumption	assumption	NOUN
ajfa-14920	235	4	of	of	ADP
ajfa-14920	235	5	a	a	DET
ajfa-14920	235	6	fixed	fix	VERB
ajfa-14920	235	7	alternative	alternative	ADJ
ajfa-14920	235	8	elastic	elastic	ADJ
ajfa-14920	235	9	production	production	NOUN
ajfa-14920	235	10	function	function	NOUN
ajfa-14920	235	11	and	and	CCONJ
ajfa-14920	235	12	the	the	DET
ajfa-14920	235	13	cobb	cobb	PROPN
ajfa-14920	235	14	-	-	PUNCT
ajfa-14920	235	15	douglas	douglas	PROPN
ajfa-14920	235	16	production	production	NOUN
ajfa-14920	235	17	function	function	NOUN
ajfa-14920	235	18	,	,	PUNCT
ajfa-14920	235	19	they	they	PRON
ajfa-14920	235	20	point	point	VERB
ajfa-14920	235	21	out	out	ADP
ajfa-14920	235	22	that	that	SCONJ
ajfa-14920	235	23	firm	firm	ADJ
ajfa-14920	235	24	performance	performance	NOUN
ajfa-14920	235	25	is	be	AUX
ajfa-14920	235	26	positively	positively	ADV
ajfa-14920	235	27	related	relate	VERB
ajfa-14920	235	28	to	to	ADP
ajfa-14920	235	29	the	the	DET
ajfa-14920	235	30	financial	financial	ADJ
ajfa-14920	235	31	mismatch	mismatch	NOUN
ajfa-14920	235	32	burden	burden	NOUN
ajfa-14920	235	33	level	level	NOUN
ajfa-14920	235	34	that	that	SCONJ
ajfa-14920	235	35	the	the	DET
ajfa-14920	235	36	company	company	NOUN
ajfa-14920	235	37	bears	bear	VERB
ajfa-14920	235	38	,	,	PUNCT
ajfa-14920	235	39	because	because	SCONJ
ajfa-14920	235	40	only	only	ADV
ajfa-14920	235	41	high	high	ADJ
ajfa-14920	235	42	corporate	corporate	ADJ
ajfa-14920	235	43	performance	performance	NOUN
ajfa-14920	235	44	can	can	AUX
ajfa-14920	235	45	compensate	compensate	VERB
ajfa-14920	235	46	for	for	ADP
ajfa-14920	235	47	the	the	DET
ajfa-14920	235	48	premium	premium	NOUN
ajfa-14920	235	49	in	in	ADP
ajfa-14920	235	50	capital	capital	NOUN
ajfa-14920	235	51	use	use	NOUN
ajfa-14920	235	52	costs	cost	NOUN
ajfa-14920	235	53	.	.	PUNCT
ajfa-14920	236	1	however	however	ADV
ajfa-14920	236	2	,	,	PUNCT
ajfa-14920	236	3	the	the	DET
ajfa-14920	236	4	regression	regression	NOUN
ajfa-14920	236	5	results	result	NOUN
ajfa-14920	236	6	show	show	VERB
ajfa-14920	236	7	that	that	SCONJ
ajfa-14920	236	8	,	,	PUNCT
ajfa-14920	236	9	on	on	ADP
ajfa-14920	236	10	the	the	DET
ajfa-14920	236	11	contrary	contrary	NOUN
ajfa-14920	236	12	,	,	PUNCT
ajfa-14920	236	13	the	the	DET
ajfa-14920	236	14	cost	cost	NOUN
ajfa-14920	236	15	of	of	ADP
ajfa-14920	236	16	capital	capital	NOUN
ajfa-14920	236	17	use	use	NOUN
ajfa-14920	236	18	can	can	AUX
ajfa-14920	236	19	negatively	negatively	ADV
ajfa-14920	236	20	affect	affect	VERB
ajfa-14920	236	21	the	the	DET
ajfa-14920	236	22	performance	performance	NOUN
ajfa-14920	236	23	of	of	ADP
ajfa-14920	236	24	the	the	DET
ajfa-14920	236	25	company	company	NOUN
ajfa-14920	236	26	.	.	PUNCT
ajfa-14920	237	1	to	to	PART
ajfa-14920	237	2	reflect	reflect	VERB
ajfa-14920	237	3	the	the	DET
ajfa-14920	237	4	financial	financial	ADJ
ajfa-14920	237	5	mismatch	mismatch	NOUN
ajfa-14920	237	6	issue	issue	NOUN
ajfa-14920	237	7	and	and	CCONJ
ajfa-14920	237	8	its	its	PRON
ajfa-14920	237	9	economic	economic	ADJ
ajfa-14920	237	10	consequences	consequence	NOUN
ajfa-14920	237	11	in	in	ADP
ajfa-14920	237	12	listed	list	VERB
ajfa-14920	237	13	companies	company	NOUN
ajfa-14920	237	14	further	far	ADV
ajfa-14920	237	15	,	,	PUNCT
ajfa-14920	237	16	this	this	DET
ajfa-14920	237	17	paper	paper	NOUN
ajfa-14920	237	18	introduces	introduce	VERB
ajfa-14920	237	19	the	the	DET
ajfa-14920	237	20	cross	cross	NOUN
ajfa-14920	237	21	term	term	NOUN
ajfa-14920	237	22	(	(	PUNCT
ajfa-14920	237	23	fm×lon	fm×lon	NOUN
ajfa-14920	237	24	)	)	PUNCT
ajfa-14920	237	25	of	of	ADP
ajfa-14920	237	26	long	long	ADJ
ajfa-14920	237	27	-	-	PUNCT
ajfa-14920	237	28	term	term	NOUN
ajfa-14920	237	29	debt	debt	NOUN
ajfa-14920	237	30	ratio	ratio	NOUN
ajfa-14920	237	31	and	and	CCONJ
ajfa-14920	237	32	financial	financial	ADJ
ajfa-14920	237	33	mismatch	mismatch	NOUN
ajfa-14920	237	34	burden	burden	NOUN
ajfa-14920	237	35	level	level	NOUN
ajfa-14920	237	36	.	.	PUNCT
ajfa-14920	238	1	the	the	DET
ajfa-14920	238	2	regression	regression	NOUN
ajfa-14920	238	3	results	result	NOUN
ajfa-14920	238	4	show	show	VERB
ajfa-14920	238	5	that	that	SCONJ
ajfa-14920	238	6	the	the	DET
ajfa-14920	238	7	cross	cross	NOUN
ajfa-14920	238	8	term	term	NOUN
ajfa-14920	238	9	is	be	AUX
ajfa-14920	238	10	significantly	significantly	ADV
ajfa-14920	238	11	related	relate	VERB
ajfa-14920	238	12	to	to	ADP
ajfa-14920	238	13	the	the	DET
ajfa-14920	238	14	return	return	NOUN
ajfa-14920	238	15	on	on	ADP
ajfa-14920	238	16	total	total	ADJ
ajfa-14920	238	17	assets	asset	NOUN
ajfa-14920	238	18	,	,	PUNCT
ajfa-14920	238	19	that	that	ADV
ajfa-14920	238	20	is	is	ADV
ajfa-14920	238	21	,	,	PUNCT
ajfa-14920	238	22	the	the	DET
ajfa-14920	238	23	impact	impact	NOUN
ajfa-14920	238	24	of	of	ADP
ajfa-14920	238	25	long	long	ADJ
ajfa-14920	238	26	-	-	PUNCT
ajfa-14920	238	27	term	term	NOUN
ajfa-14920	238	28	debt	debt	NOUN
ajfa-14920	238	29	ratio	ratio	NOUN
ajfa-14920	238	30	on	on	ADP
ajfa-14920	238	31	total	total	ADJ
ajfa-14920	238	32	return	return	NOUN
ajfa-14920	238	33	on	on	ADP
ajfa-14920	238	34	assets	asset	NOUN
ajfa-14920	238	35	is	be	AUX
ajfa-14920	238	36	constrained	constrain	VERB
ajfa-14920	238	37	by	by	ADP
ajfa-14920	238	38	the	the	DET
ajfa-14920	238	39	level	level	NOUN
ajfa-14920	238	40	of	of	ADP
ajfa-14920	238	41	financial	financial	ADJ
ajfa-14920	238	42	mismatch	mismatch	NOUN
ajfa-14920	238	43	burden	burden	NOUN
ajfa-14920	238	44	.	.	PUNCT
ajfa-14920	239	1	in	in	ADP
ajfa-14920	239	2	both	both	CCONJ
ajfa-14920	239	3	the	the	DET
ajfa-14920	239	4	total	total	ADJ
ajfa-14920	239	5	sample	sample	NOUN
ajfa-14920	239	6	and	and	CCONJ
ajfa-14920	239	7	the	the	DET
ajfa-14920	239	8	subsample	subsample	NOUN
ajfa-14920	239	9	,	,	PUNCT
ajfa-14920	239	10	the	the	DET
ajfa-14920	239	11	cross	cross	NOUN
ajfa-14920	239	12	term	term	NOUN
ajfa-14920	239	13	has	have	VERB
ajfa-14920	239	14	a	a	DET
ajfa-14920	239	15	significant	significant	ADJ
ajfa-14920	239	16	positive	positive	ADJ
ajfa-14920	239	17	correlation	correlation	NOUN
ajfa-14920	239	18	with	with	ADP
ajfa-14920	239	19	the	the	DET
ajfa-14920	239	20	return	return	NOUN
ajfa-14920	239	21	on	on	ADP
ajfa-14920	239	22	total	total	ADJ
ajfa-14920	239	23	assets	asset	NOUN
ajfa-14920	239	24	.	.	PUNCT
ajfa-14920	240	1	this	this	PRON
ajfa-14920	240	2	reveals	reveal	VERB
ajfa-14920	240	3	that	that	SCONJ
ajfa-14920	240	4	in	in	ADP
ajfa-14920	240	5	china	china	PROPN
ajfa-14920	240	6	’s	’s	PART
ajfa-14920	240	7	listed	list	VERB
ajfa-14920	240	8	companies	company	NOUN
ajfa-14920	240	9	,	,	PUNCT
ajfa-14920	240	10	the	the	PRON
ajfa-14920	240	11	higher	high	ADJ
ajfa-14920	240	12	the	the	DET
ajfa-14920	240	13	level	level	NOUN
ajfa-14920	240	14	of	of	ADP
ajfa-14920	240	15	financial	financial	ADJ
ajfa-14920	240	16	mismatch	mismatch	NOUN
ajfa-14920	240	17	burden	burden	NOUN
ajfa-14920	240	18	faced	face	VERB
ajfa-14920	240	19	by	by	ADP
ajfa-14920	240	20	enterprises	enterprise	NOUN
ajfa-14920	240	21	,	,	PUNCT
ajfa-14920	240	22	the	the	PRON
ajfa-14920	240	23	more	more	ADV
ajfa-14920	240	24	the	the	DET
ajfa-14920	240	25	increase	increase	NOUN
ajfa-14920	240	26	in	in	ADP
ajfa-14920	240	27	debt	debt	NOUN
ajfa-14920	240	28	level	level	NOUN
ajfa-14920	240	29	can	can	AUX
ajfa-14920	240	30	encourage	encourage	VERB
ajfa-14920	240	31	listed	list	VERB
ajfa-14920	240	32	companies	company	NOUN
ajfa-14920	240	33	to	to	PART
ajfa-14920	240	34	improve	improve	VERB
ajfa-14920	240	35	their	their	PRON
ajfa-14920	240	36	financial	financial	ADJ
ajfa-14920	240	37	performance	performance	NOUN
ajfa-14920	240	38	to	to	PART
ajfa-14920	240	39	make	make	VERB
ajfa-14920	240	40	up	up	ADP
ajfa-14920	240	41	for	for	ADP
ajfa-14920	240	42	the	the	DET
ajfa-14920	240	43	increase	increase	NOUN
ajfa-14920	240	44	in	in	ADP
ajfa-14920	240	45	the	the	DET
ajfa-14920	240	46	cost	cost	NOUN
ajfa-14920	240	47	of	of	ADP
ajfa-14920	240	48	use	use	NOUN
ajfa-14920	240	49	of	of	ADP
ajfa-14920	240	50	funds	fund	NOUN
ajfa-14920	240	51	,	,	PUNCT
ajfa-14920	240	52	and	and	CCONJ
ajfa-14920	240	53	to	to	PART
ajfa-14920	240	54	avoid	avoid	VERB
ajfa-14920	240	55	default	default	NOUN
ajfa-14920	240	56	on	on	ADP
ajfa-14920	240	57	debt	debt	NOUN
ajfa-14920	240	58	contracts	contract	NOUN
ajfa-14920	240	59	.	.	PUNCT
ajfa-14920	241	1	there	there	PRON
ajfa-14920	241	2	is	be	VERB
ajfa-14920	241	3	a	a	DET
ajfa-14920	241	4	positive	positive	ADJ
ajfa-14920	241	5	correlation	correlation	NOUN
ajfa-14920	241	6	between	between	ADP
ajfa-14920	241	7	company	company	NOUN
ajfa-14920	241	8	size	size	NOUN
ajfa-14920	241	9	variables	variable	NOUN
ajfa-14920	241	10	and	and	CCONJ
ajfa-14920	241	11	total	total	ADJ
ajfa-14920	241	12	return	return	NOUN
ajfa-14920	241	13	on	on	ADP
ajfa-14920	241	14	assets	asset	NOUN
ajfa-14920	241	15	,	,	PUNCT
ajfa-14920	241	16	but	but	CCONJ
ajfa-14920	241	17	not	not	PART
ajfa-14920	241	18	significant	significant	ADJ
ajfa-14920	241	19	,	,	PUNCT
ajfa-14920	241	20	which	which	PRON
ajfa-14920	241	21	means	mean	VERB
ajfa-14920	241	22	that	that	SCONJ
ajfa-14920	241	23	the	the	DET
ajfa-14920	241	24	scale	scale	NOUN
ajfa-14920	241	25	expansion	expansion	NOUN
ajfa-14920	241	26	of	of	ADP
ajfa-14920	241	27	listed	list	VERB
ajfa-14920	241	28	companies	company	NOUN
ajfa-14920	241	29	is	be	AUX
ajfa-14920	241	30	not	not	PART
ajfa-14920	241	31	all	all	ADV
ajfa-14920	241	32	efficient	efficient	ADJ
ajfa-14920	241	33	,	,	PUNCT
ajfa-14920	241	34	and	and	CCONJ
ajfa-14920	241	35	there	there	PRON
ajfa-14920	241	36	is	be	VERB
ajfa-14920	241	37	no	no	DET
ajfa-14920	241	38	significant	significant	ADJ
ajfa-14920	241	39	correlation	correlation	NOUN
ajfa-14920	241	40	between	between	ADP
ajfa-14920	241	41	company	company	NOUN
ajfa-14920	241	42	size	size	NOUN
ajfa-14920	241	43	and	and	CCONJ
ajfa-14920	241	44	financial	financial	ADJ
ajfa-14920	241	45	performance	performance	NOUN
ajfa-14920	241	46	.	.	PUNCT
ajfa-14920	242	1	there	there	PRON
ajfa-14920	242	2	is	be	VERB
ajfa-14920	242	3	a	a	DET
ajfa-14920	242	4	significant	significant	ADJ
ajfa-14920	242	5	positive	positive	ADJ
ajfa-14920	242	6	correlation	correlation	NOUN
ajfa-14920	242	7	between	between	ADP
ajfa-14920	242	8	the	the	DET
ajfa-14920	242	9	growth	growth	NOUN
ajfa-14920	242	10	rate	rate	NOUN
ajfa-14920	242	11	of	of	ADP
ajfa-14920	242	12	operating	operate	VERB
ajfa-14920	242	13	income	income	NOUN
ajfa-14920	242	14	and	and	CCONJ
ajfa-14920	242	15	the	the	DET
ajfa-14920	242	16	rate	rate	NOUN
ajfa-14920	242	17	of	of	ADP
ajfa-14920	242	18	return	return	NOUN
ajfa-14920	242	19	on	on	ADP
ajfa-14920	242	20	total	total	ADJ
ajfa-14920	242	21	assets	asset	NOUN
ajfa-14920	242	22	,	,	PUNCT
ajfa-14920	242	23	and	and	CCONJ
ajfa-14920	242	24	the	the	DET
ajfa-14920	242	25	coefficient	coefficient	NOUN
ajfa-14920	242	26	of	of	ADP
ajfa-14920	242	27	private	private	ADJ
ajfa-14920	242	28	enterprises	enterprise	NOUN
ajfa-14920	242	29	is	be	AUX
ajfa-14920	242	30	higher	high	ADJ
ajfa-14920	242	31	than	than	ADP
ajfa-14920	242	32	that	that	PRON
ajfa-14920	242	33	of	of	ADP
ajfa-14920	242	34	stateowned	stateowne	VERB
ajfa-14920	242	35	enterprises	enterprise	NOUN
ajfa-14920	242	36	,	,	PUNCT
ajfa-14920	242	37	indicating	indicate	VERB
ajfa-14920	242	38	that	that	SCONJ
ajfa-14920	242	39	the	the	DET
ajfa-14920	242	40	impact	impact	NOUN
ajfa-14920	242	41	of	of	ADP
ajfa-14920	242	42	operating	operate	VERB
ajfa-14920	242	43	income	income	NOUN
ajfa-14920	242	44	growth	growth	NOUN
ajfa-14920	242	45	on	on	ADP
ajfa-14920	242	46	the	the	DET
ajfa-14920	242	47	performance	performance	NOUN
ajfa-14920	242	48	of	of	ADP
ajfa-14920	242	49	private	private	ADJ
ajfa-14920	242	50	enterprises	enterprise	NOUN
ajfa-14920	242	51	is	be	AUX
ajfa-14920	242	52	significantly	significantly	ADV
ajfa-14920	242	53	higher	high	ADJ
ajfa-14920	242	54	than	than	ADP
ajfa-14920	242	55	that	that	PRON
ajfa-14920	242	56	of	of	ADP
ajfa-14920	242	57	state	state	NOUN
ajfa-14920	242	58	-	-	PUNCT
ajfa-14920	242	59	owned	own	VERB
ajfa-14920	242	60	enterprises	enterprise	NOUN
ajfa-14920	242	61	.	.	PUNCT
ajfa-14920	243	1	the	the	DET
ajfa-14920	243	2	shareholding	shareholding	NOUN
ajfa-14920	243	3	structure	structure	NOUN
ajfa-14920	243	4	in	in	ADP
ajfa-14920	243	5	the	the	DET
ajfa-14920	243	6	state	state	NOUN
ajfa-14920	243	7	-	-	PUNCT
ajfa-14920	243	8	owned	own	VERB
ajfa-14920	243	9	sample	sample	NOUN
ajfa-14920	243	10	has	have	VERB
ajfa-14920	243	11	a	a	DET
ajfa-14920	243	12	significant	significant	ADJ
ajfa-14920	243	13	positive	positive	ADJ
ajfa-14920	243	14	correlation	correlation	NOUN
ajfa-14920	243	15	with	with	ADP
ajfa-14920	243	16	the	the	DET
ajfa-14920	243	17	asian	asian	ADJ
ajfa-14920	243	18	journal	journal	NOUN
ajfa-14920	243	19	of	of	ADP
ajfa-14920	243	20	finance	finance	PROPN
ajfa-14920	243	21	&	&	CCONJ
ajfa-14920	243	22	accounting	accounting	PROPN
ajfa-14920	243	23	issn	issn	PROPN
ajfa-14920	243	24	1946	1946	NUM
ajfa-14920	243	25	-	-	PUNCT
ajfa-14920	243	26	052x	052x	PROPN
ajfa-14920	243	27	2019	2019	NUM
ajfa-14920	243	28	,	,	PUNCT
ajfa-14920	243	29	vol	vol	NOUN
ajfa-14920	243	30	.	.	PROPN
ajfa-14920	243	31	11	11	NUM
ajfa-14920	243	32	,	,	PUNCT
ajfa-14920	243	33	no	no	INTJ
ajfa-14920	243	34	.	.	NOUN
ajfa-14920	243	35	2	2	NUM
ajfa-14920	243	36	ajfa.macrothink.org/	ajfa.macrothink.org/	NOUN
ajfa-14920	243	37	250	250	NUM
ajfa-14920	243	38	return	return	NOUN
ajfa-14920	243	39	on	on	ADP
ajfa-14920	243	40	total	total	ADJ
ajfa-14920	243	41	assets	asset	NOUN
ajfa-14920	243	42	of	of	ADP
ajfa-14920	243	43	the	the	DET
ajfa-14920	243	44	enterprise	enterprise	NOUN
ajfa-14920	243	45	,	,	PUNCT
ajfa-14920	243	46	which	which	PRON
ajfa-14920	243	47	is	be	AUX
ajfa-14920	243	48	consistent	consistent	ADJ
ajfa-14920	243	49	with	with	ADP
ajfa-14920	243	50	the	the	DET
ajfa-14920	243	51	research	research	NOUN
ajfa-14920	243	52	of	of	ADP
ajfa-14920	243	53	xu	xu	PROPN
ajfa-14920	243	54	et	et	PROPN
ajfa-14920	243	55	al	al	PROPN
ajfa-14920	243	56	.	.	PROPN
ajfa-14920	244	1	(	(	PUNCT
ajfa-14920	244	2	2006	2006	NUM
ajfa-14920	244	3	)	)	PUNCT
ajfa-14920	244	4	.	.	PUNCT
ajfa-14920	245	1	the	the	DET
ajfa-14920	245	2	dividend	dividend	NOUN
ajfa-14920	245	3	payout	payout	NOUN
ajfa-14920	245	4	ratio	ratio	NOUN
ajfa-14920	245	5	is	be	AUX
ajfa-14920	245	6	significantly	significantly	ADV
ajfa-14920	245	7	negatively	negatively	ADV
ajfa-14920	245	8	correlated	correlate	VERB
ajfa-14920	245	9	with	with	ADP
ajfa-14920	245	10	the	the	DET
ajfa-14920	245	11	return	return	NOUN
ajfa-14920	245	12	on	on	ADP
ajfa-14920	245	13	total	total	ADJ
ajfa-14920	245	14	assets	asset	NOUN
ajfa-14920	245	15	.	.	PUNCT
ajfa-14920	246	1	an	an	DET
ajfa-14920	246	2	excessive	excessive	ADJ
ajfa-14920	246	3	dividend	dividend	NOUN
ajfa-14920	246	4	payout	payout	NOUN
ajfa-14920	246	5	rate	rate	NOUN
ajfa-14920	246	6	will	will	AUX
ajfa-14920	246	7	affect	affect	VERB
ajfa-14920	246	8	the	the	DET
ajfa-14920	246	9	performance	performance	NOUN
ajfa-14920	246	10	of	of	ADP
ajfa-14920	246	11	listed	list	VERB
ajfa-14920	246	12	companies	company	NOUN
ajfa-14920	246	13	.	.	PUNCT
ajfa-14920	247	1	the	the	DET
ajfa-14920	247	2	company	company	NOUN
ajfa-14920	247	3	should	should	AUX
ajfa-14920	247	4	retain	retain	VERB
ajfa-14920	247	5	more	more	ADJ
ajfa-14920	247	6	profit	profit	NOUN
ajfa-14920	247	7	for	for	ADP
ajfa-14920	247	8	company	company	NOUN
ajfa-14920	247	9	development	development	NOUN
ajfa-14920	247	10	.	.	PUNCT
ajfa-14920	248	1	4.2.2	4.2.2	NUM
ajfa-14920	248	2	asset	asset	NOUN
ajfa-14920	248	3	specificity	specificity	NOUN
ajfa-14920	248	4	and	and	CCONJ
ajfa-14920	248	5	capital	capital	NOUN
ajfa-14920	248	6	structure	structure	NOUN
ajfa-14920	248	7	then	then	ADV
ajfa-14920	248	8	,	,	PUNCT
ajfa-14920	248	9	we	we	PRON
ajfa-14920	248	10	do	do	VERB
ajfa-14920	248	11	the	the	DET
ajfa-14920	248	12	same	same	ADJ
ajfa-14920	248	13	preliminary	preliminary	ADJ
ajfa-14920	248	14	tests	test	NOUN
ajfa-14920	248	15	on	on	ADP
ajfa-14920	248	16	model	model	NOUN
ajfa-14920	248	17	(	(	PUNCT
ajfa-14920	248	18	2	2	NUM
ajfa-14920	248	19	)	)	PUNCT
ajfa-14920	248	20	as	as	ADP
ajfa-14920	248	21	model	model	NOUN
ajfa-14920	248	22	(	(	PUNCT
ajfa-14920	248	23	1	1	NUM
ajfa-14920	248	24	)	)	PUNCT
ajfa-14920	248	25	.	.	PUNCT
ajfa-14920	249	1	the	the	DET
ajfa-14920	249	2	result	result	NOUN
ajfa-14920	249	3	is	be	AUX
ajfa-14920	249	4	same	same	ADJ
ajfa-14920	249	5	as	as	ADP
ajfa-14920	249	6	model	model	NOUN
ajfa-14920	249	7	(	(	PUNCT
ajfa-14920	249	8	1	1	NUM
ajfa-14920	249	9	)	)	PUNCT
ajfa-14920	249	10	.	.	PUNCT
ajfa-14920	250	1	the	the	DET
ajfa-14920	250	2	model(2	model(2	NOUN
ajfa-14920	250	3	)	)	PUNCT
ajfa-14920	250	4	regression	regression	NOUN
ajfa-14920	250	5	results	result	NOUN
ajfa-14920	250	6	are	be	AUX
ajfa-14920	250	7	shown	show	VERB
ajfa-14920	250	8	as	as	ADP
ajfa-14920	250	9	follows	follow	VERB
ajfa-14920	250	10	,	,	PUNCT
ajfa-14920	250	11	table	table	NOUN
ajfa-14920	250	12	6	6	NUM
ajfa-14920	250	13	.	.	PUNCT
ajfa-14920	250	14	asset	asset	NOUN
ajfa-14920	250	15	specificity	specificity	NOUN
ajfa-14920	250	16	and	and	CCONJ
ajfa-14920	250	17	capital	capital	NOUN
ajfa-14920	250	18	structure	structure	NOUN
ajfa-14920	250	19	variables	variable	NOUN
ajfa-14920	250	20	fixed	fix	VERB
ajfa-14920	250	21	-	-	PUNCT
ajfa-14920	250	22	effect	effect	NOUN
ajfa-14920	250	23	whole	whole	ADJ
ajfa-14920	250	24	samples	sample	NOUN
ajfa-14920	250	25	sub	sub	ADJ
ajfa-14920	250	26	-	-	ADJ
ajfa-14920	250	27	samples	sample	NOUN
ajfa-14920	250	28	state	state	NOUN
ajfa-14920	250	29	-	-	PUNCT
ajfa-14920	250	30	owned	own	VERB
ajfa-14920	250	31	private	private	ADJ
ajfa-14920	250	32	asi	asi	NOUN
ajfa-14920	250	33	0.191	0.191	NUM
ajfa-14920	250	34	*	*	PUNCT
ajfa-14920	250	35	*	*	PUNCT
ajfa-14920	250	36	*	*	NOUN
ajfa-14920	250	37	0.207	0.207	NUM
ajfa-14920	250	38	*	*	X
ajfa-14920	250	39	*	*	NOUN
ajfa-14920	250	40	0.177	0.177	NUM
ajfa-14920	250	41	*	*	PUNCT
ajfa-14920	250	42	*	*	PUNCT
ajfa-14920	250	43	*	*	PUNCT
ajfa-14920	250	44	(	(	PUNCT
ajfa-14920	250	45	3.69	3.69	NUM
ajfa-14920	250	46	)	)	PUNCT
ajfa-14920	250	47	(	(	PUNCT
ajfa-14920	250	48	2.10	2.10	NUM
ajfa-14920	250	49	)	)	PUNCT
ajfa-14920	250	50	(	(	PUNCT
ajfa-14920	250	51	3.81	3.81	NUM
ajfa-14920	250	52	)	)	PUNCT
ajfa-14920	250	53	roa	roa	NOUN
ajfa-14920	250	54	-0.338	-0.338	NOUN
ajfa-14920	250	55	*	*	PUNCT
ajfa-14920	250	56	*	*	PUNCT
ajfa-14920	250	57	*	*	PUNCT
ajfa-14920	250	58	-0.632	-0.632	ADJ
ajfa-14920	250	59	*	*	PUNCT
ajfa-14920	250	60	*	*	PUNCT
ajfa-14920	250	61	*	*	PUNCT
ajfa-14920	250	62	-0.235	-0.235	ADJ
ajfa-14920	250	63	*	*	PUNCT
ajfa-14920	250	64	*	*	PUNCT
ajfa-14920	250	65	*	*	PUNCT
ajfa-14920	250	66	(	(	PUNCT
ajfa-14920	250	67	-4.86	-4.86	NOUN
ajfa-14920	250	68	)	)	PUNCT
ajfa-14920	250	69	(	(	PUNCT
ajfa-14920	250	70	-4.08	-4.08	NUM
ajfa-14920	250	71	)	)	PUNCT
ajfa-14920	250	72	(	(	PUNCT
ajfa-14920	250	73	-3.21	-3.21	NOUN
ajfa-14920	250	74	)	)	PUNCT
ajfa-14920	250	75	size	size	NOUN
ajfa-14920	250	76	0.111	0.111	NUM
ajfa-14920	250	77	*	*	PUNCT
ajfa-14920	250	78	*	*	PUNCT
ajfa-14920	250	79	*	*	PUNCT
ajfa-14920	250	80	0.107	0.107	NUM
ajfa-14920	250	81	*	*	PUNCT
ajfa-14920	250	82	*	*	PUNCT
ajfa-14920	250	83	*	*	PUNCT
ajfa-14920	250	84	0.116	0.116	NUM
ajfa-14920	250	85	*	*	PUNCT
ajfa-14920	250	86	*	*	PUNCT
ajfa-14920	250	87	*	*	PUNCT
ajfa-14920	250	88	(	(	PUNCT
ajfa-14920	250	89	8.58	8.58	NUM
ajfa-14920	250	90	)	)	PUNCT
ajfa-14920	250	91	(	(	PUNCT
ajfa-14920	250	92	3.36	3.36	NUM
ajfa-14920	250	93	)	)	PUNCT
ajfa-14920	250	94	(	(	PUNCT
ajfa-14920	250	95	8.87	8.87	NUM
ajfa-14920	250	96	)	)	PUNCT
ajfa-14920	250	97	growth	growth	NOUN
ajfa-14920	250	98	0.0179	0.0179	NUM
ajfa-14920	250	99	*	*	PUNCT
ajfa-14920	250	100	0.0173	0.0173	NUM
ajfa-14920	250	101	0.0171	0.0171	NUM
ajfa-14920	250	102	(	(	PUNCT
ajfa-14920	250	103	1.88	1.88	NUM
ajfa-14920	250	104	)	)	PUNCT
ajfa-14920	250	105	(	(	PUNCT
ajfa-14920	250	106	0.90	0.90	NUM
ajfa-14920	250	107	)	)	PUNCT
ajfa-14920	250	108	(	(	PUNCT
ajfa-14920	250	109	1.61	1.61	NUM
ajfa-14920	250	110	)	)	PUNCT
ajfa-14920	250	111	ncsp	ncsp	NOUN
ajfa-14920	250	112	-0.0692	-0.0692	PROPN
ajfa-14920	250	113	-0.0347	-0.0347	PROPN
ajfa-14920	250	114	-0.0841	-0.0841	PROPN
ajfa-14920	250	115	(	(	PUNCT
ajfa-14920	250	116	-1.56	-1.56	NUM
ajfa-14920	250	117	)	)	PUNCT
ajfa-14920	250	118	(	(	PUNCT
ajfa-14920	250	119	-0.44	-0.44	NUM
ajfa-14920	250	120	)	)	PUNCT
ajfa-14920	250	121	(	(	PUNCT
ajfa-14920	250	122	-1.57	-1.57	X
ajfa-14920	250	123	)	)	PUNCT
ajfa-14920	250	124	sto	sto	PROPN
ajfa-14920	250	125	-0.0140	-0.0140	PROPN
ajfa-14920	250	126	-0.00397	-0.00397	NOUN
ajfa-14920	250	127	-0.0185	-0.0185	PROPN
ajfa-14920	250	128	*	*	PUNCT
ajfa-14920	250	129	(	(	PUNCT
ajfa-14920	250	130	-1.53	-1.53	NUM
ajfa-14920	250	131	)	)	PUNCT
ajfa-14920	250	132	(	(	PUNCT
ajfa-14920	250	133	-0.21	-0.21	NOUN
ajfa-14920	250	134	)	)	PUNCT
ajfa-14920	250	135	(	(	PUNCT
ajfa-14920	250	136	-1.82	-1.82	NOUN
ajfa-14920	250	137	)	)	PUNCT
ajfa-14920	250	138	tax	tax	NOUN
ajfa-14920	250	139	-0.303	-0.303	NOUN
ajfa-14920	250	140	*	*	NOUN
ajfa-14920	250	141	*	*	PUNCT
ajfa-14920	250	142	*	*	PUNCT
ajfa-14920	250	143	-0.490	-0.490	PUNCT
ajfa-14920	250	144	*	*	PUNCT
ajfa-14920	250	145	*	*	PUNCT
ajfa-14920	250	146	*	*	PUNCT
ajfa-14920	250	147	-0.147	-0.147	NUM
ajfa-14920	250	148	(	(	PUNCT
ajfa-14920	250	149	-3.18	-3.18	NUM
ajfa-14920	250	150	)	)	PUNCT
ajfa-14920	250	151	(	(	PUNCT
ajfa-14920	250	152	-2.72	-2.72	NOUN
ajfa-14920	250	153	)	)	PUNCT
ajfa-14920	250	154	(	(	PUNCT
ajfa-14920	250	155	-1.39	-1.39	NOUN
ajfa-14920	250	156	)	)	PUNCT
ajfa-14920	250	157	_	_	NOUN
ajfa-14920	250	158	cons	con	NOUN
ajfa-14920	250	159	-2.274	-2.274	NOUN
ajfa-14920	250	160	*	*	PUNCT
ajfa-14920	250	161	*	*	PUNCT
ajfa-14920	250	162	*	*	PUNCT
ajfa-14920	250	163	-2.179	-2.179	PUNCT
ajfa-14920	250	164	*	*	PUNCT
ajfa-14920	250	165	*	*	PUNCT
ajfa-14920	250	166	*	*	PUNCT
ajfa-14920	250	167	-2.403	-2.403	NOUN
ajfa-14920	250	168	*	*	PUNCT
ajfa-14920	250	169	*	*	PUNCT
ajfa-14920	250	170	*	*	PUNCT
ajfa-14920	250	171	(	(	PUNCT
ajfa-14920	250	172	-7.67	-7.67	NUM
ajfa-14920	250	173	)	)	PUNCT
ajfa-14920	250	174	(	(	PUNCT
ajfa-14920	250	175	-2.96	-2.96	NOUN
ajfa-14920	250	176	)	)	PUNCT
ajfa-14920	250	177	(	(	PUNCT
ajfa-14920	250	178	-8.07	-8.07	NOUN
ajfa-14920	250	179	)	)	PUNCT
ajfa-14920	250	180	industry	industry	NOUN
ajfa-14920	251	1	yes	yes	INTJ
ajfa-14920	252	1	yes	yes	INTJ
ajfa-14920	253	1	yes	yes	INTJ
ajfa-14920	253	2	year	year	NOUN
ajfa-14920	254	1	yes	yes	INTJ
ajfa-14920	255	1	yes	yes	INTJ
ajfa-14920	256	1	yes	yes	INTJ
ajfa-14920	257	1	n	n	CCONJ
ajfa-14920	257	2	3300	3300	NUM
ajfa-14920	257	3	1374	1374	NUM
ajfa-14920	257	4	1926	1926	NUM
ajfa-14920	258	1	r²	r²	VERB
ajfa-14920	258	2	0.198	0.198	NUM
ajfa-14920	258	3	0.179	0.179	NUM
ajfa-14920	258	4	0.228	0.228	NUM
ajfa-14920	258	5	t	t	NOUN
ajfa-14920	258	6	statistics	statistic	NOUN
ajfa-14920	258	7	in	in	ADP
ajfa-14920	258	8	parentheses	parenthesis	NOUN
ajfa-14920	258	9	*	*	PUNCT
ajfa-14920	258	10	p	p	X
ajfa-14920	258	11	<	<	X
ajfa-14920	258	12	.1	.1	PROPN
ajfa-14920	258	13	,	,	PUNCT
ajfa-14920	258	14	*	*	PUNCT
ajfa-14920	258	15	*	*	PUNCT
ajfa-14920	259	1	p	p	X
ajfa-14920	259	2	<	<	X
ajfa-14920	259	3	.05	.05	NUM
ajfa-14920	259	4	,	,	PUNCT
ajfa-14920	259	5	*	*	PUNCT
ajfa-14920	259	6	*	*	PUNCT
ajfa-14920	259	7	*	*	PUNCT
ajfa-14920	259	8	p	p	X
ajfa-14920	259	9	<	<	X
ajfa-14920	259	10	.01	.01	NUM
ajfa-14920	259	11	in	in	ADP
ajfa-14920	259	12	fixed	fix	VERB
ajfa-14920	259	13	-	-	PUNCT
ajfa-14920	259	14	effect	effect	NOUN
ajfa-14920	259	15	model	model	NOUN
ajfa-14920	259	16	,	,	PUNCT
ajfa-14920	259	17	asset	asset	NOUN
ajfa-14920	259	18	specificity	specificity	NOUN
ajfa-14920	259	19	and	and	CCONJ
ajfa-14920	259	20	long	long	ADJ
ajfa-14920	259	21	-	-	PUNCT
ajfa-14920	259	22	term	term	NOUN
ajfa-14920	259	23	debt	debt	NOUN
ajfa-14920	259	24	ratio	ratio	NOUN
ajfa-14920	259	25	were	be	AUX
ajfa-14920	259	26	significantly	significantly	ADV
ajfa-14920	259	27	positively	positively	ADV
ajfa-14920	259	28	correlated	correlate	VERB
ajfa-14920	259	29	at	at	ADP
ajfa-14920	259	30	the	the	DET
ajfa-14920	259	31	significance	significance	NOUN
ajfa-14920	259	32	level	level	NOUN
ajfa-14920	259	33	of	of	ADP
ajfa-14920	259	34	1	1	NUM
ajfa-14920	259	35	%	%	NOUN
ajfa-14920	259	36	in	in	ADP
ajfa-14920	259	37	the	the	DET
ajfa-14920	259	38	full	full	ADJ
ajfa-14920	259	39	sample	sample	NOUN
ajfa-14920	259	40	,	,	PUNCT
ajfa-14920	259	41	which	which	PRON
ajfa-14920	259	42	rejects	reject	VERB
ajfa-14920	259	43	the	the	DET
ajfa-14920	259	44	hypothesis	hypothesis	NOUN
ajfa-14920	259	45	2a	2a	NUM
ajfa-14920	259	46	of	of	ADP
ajfa-14920	259	47	this	this	DET
ajfa-14920	259	48	paper	paper	NOUN
ajfa-14920	259	49	.	.	PUNCT
ajfa-14920	260	1	this	this	PRON
ajfa-14920	260	2	is	be	AUX
ajfa-14920	260	3	clearly	clearly	ADV
ajfa-14920	260	4	deviated	deviate	VERB
ajfa-14920	260	5	from	from	ADP
ajfa-14920	260	6	the	the	DET
ajfa-14920	260	7	theoretical	theoretical	ADJ
ajfa-14920	260	8	analysis	analysis	NOUN
ajfa-14920	260	9	of	of	ADP
ajfa-14920	260	10	transaction	transaction	NOUN
ajfa-14920	260	11	cost	cost	NOUN
ajfa-14920	260	12	economics	economic	NOUN
ajfa-14920	260	13	,	,	PUNCT
ajfa-14920	260	14	and	and	CCONJ
ajfa-14920	260	15	the	the	DET
ajfa-14920	260	16	result	result	NOUN
ajfa-14920	260	17	is	be	AUX
ajfa-14920	260	18	consistent	consistent	ADJ
ajfa-14920	260	19	with	with	ADP
ajfa-14920	260	20	the	the	DET
ajfa-14920	260	21	findings	finding	NOUN
ajfa-14920	260	22	of	of	ADP
ajfa-14920	260	23	lei	lei	PROPN
ajfa-14920	260	24	(	(	PUNCT
ajfa-14920	260	25	2010	2010	NUM
ajfa-14920	260	26	)	)	PUNCT
ajfa-14920	260	27	,	,	PUNCT
ajfa-14920	260	28	which	which	PRON
ajfa-14920	260	29	is	be	AUX
ajfa-14920	260	30	,	,	PUNCT
ajfa-14920	260	31	the	the	DET
ajfa-14920	260	32	economic	economic	ADJ
ajfa-14920	260	33	consequences	consequence	NOUN
ajfa-14920	260	34	of	of	ADP
ajfa-14920	260	35	asset	asset	NOUN
ajfa-14920	260	36	specificity	specificity	NOUN
ajfa-14920	260	37	must	must	AUX
ajfa-14920	260	38	be	be	AUX
ajfa-14920	260	39	considered	consider	VERB
ajfa-14920	260	40	in	in	ADP
ajfa-14920	260	41	consideration	consideration	NOUN
ajfa-14920	260	42	of	of	ADP
ajfa-14920	260	43	special	special	ADJ
ajfa-14920	260	44	institutional	institutional	ADJ
ajfa-14920	260	45	background	background	NOUN
ajfa-14920	260	46	of	of	ADP
ajfa-14920	260	47	china	china	PROPN
ajfa-14920	260	48	.	.	PUNCT
ajfa-14920	261	1	asian	asian	PROPN
ajfa-14920	261	2	journal	journal	PROPN
ajfa-14920	261	3	of	of	ADP
ajfa-14920	261	4	finance	finance	PROPN
ajfa-14920	261	5	&	&	CCONJ
ajfa-14920	261	6	accounting	accounting	PROPN
ajfa-14920	261	7	issn	issn	PROPN
ajfa-14920	261	8	1946	1946	NUM
ajfa-14920	261	9	-	-	PUNCT
ajfa-14920	261	10	052x	052x	PROPN
ajfa-14920	261	11	2019	2019	NUM
ajfa-14920	261	12	,	,	PUNCT
ajfa-14920	261	13	vol	vol	NOUN
ajfa-14920	261	14	.	.	PROPN
ajfa-14920	261	15	11	11	NUM
ajfa-14920	261	16	,	,	PUNCT
ajfa-14920	261	17	no	no	INTJ
ajfa-14920	261	18	.	.	NOUN
ajfa-14920	261	19	2	2	NUM
ajfa-14920	261	20	ajfa.macrothink.org/	ajfa.macrothink.org/	NOUN
ajfa-14920	261	21	251	251	NUM
ajfa-14920	261	22	asset	asset	NOUN
ajfa-14920	261	23	specificity	specificity	NOUN
ajfa-14920	261	24	is	be	AUX
ajfa-14920	261	25	also	also	ADV
ajfa-14920	261	26	significantly	significantly	ADV
ajfa-14920	261	27	positively	positively	ADV
ajfa-14920	261	28	correlated	correlate	VERB
ajfa-14920	261	29	with	with	ADP
ajfa-14920	261	30	long	long	ADJ
ajfa-14920	261	31	-	-	PUNCT
ajfa-14920	261	32	term	term	NOUN
ajfa-14920	261	33	debt	debt	NOUN
ajfa-14920	261	34	ratio	ratio	NOUN
ajfa-14920	261	35	at	at	ADP
ajfa-14920	261	36	the	the	DET
ajfa-14920	261	37	5	5	NUM
ajfa-14920	261	38	%	%	NOUN
ajfa-14920	261	39	confidence	confidence	NOUN
ajfa-14920	261	40	level	level	NOUN
ajfa-14920	261	41	in	in	ADP
ajfa-14920	261	42	the	the	DET
ajfa-14920	261	43	sample	sample	NOUN
ajfa-14920	261	44	of	of	ADP
ajfa-14920	261	45	state	state	NOUN
ajfa-14920	261	46	-	-	PUNCT
ajfa-14920	261	47	controlled	control	VERB
ajfa-14920	261	48	listed	list	VERB
ajfa-14920	261	49	companies	company	NOUN
ajfa-14920	261	50	,	,	PUNCT
ajfa-14920	261	51	which	which	PRON
ajfa-14920	261	52	validates	validate	VERB
ajfa-14920	261	53	the	the	DET
ajfa-14920	261	54	hypothesis	hypothesis	NOUN
ajfa-14920	261	55	2b	2b	NOUN
ajfa-14920	261	56	.	.	PUNCT
ajfa-14920	262	1	this	this	PRON
ajfa-14920	262	2	can	can	AUX
ajfa-14920	262	3	be	be	AUX
ajfa-14920	262	4	explained	explain	VERB
ajfa-14920	262	5	as	as	ADP
ajfa-14920	262	6	,	,	PUNCT
ajfa-14920	262	7	on	on	ADP
ajfa-14920	262	8	the	the	DET
ajfa-14920	262	9	one	one	NUM
ajfa-14920	262	10	hand	hand	NOUN
ajfa-14920	262	11	,	,	PUNCT
ajfa-14920	262	12	when	when	SCONJ
ajfa-14920	262	13	a	a	DET
ajfa-14920	262	14	creditor	creditor	NOUN
ajfa-14920	262	15	makes	make	VERB
ajfa-14920	262	16	a	a	DET
ajfa-14920	262	17	credit	credit	NOUN
ajfa-14920	262	18	decision	decision	NOUN
ajfa-14920	262	19	on	on	ADP
ajfa-14920	262	20	a	a	DET
ajfa-14920	262	21	state	state	NOUN
ajfa-14920	262	22	-	-	PUNCT
ajfa-14920	262	23	controlled	control	VERB
ajfa-14920	262	24	listed	list	VERB
ajfa-14920	262	25	company	company	NOUN
ajfa-14920	262	26	,	,	PUNCT
ajfa-14920	262	27	for	for	ADP
ajfa-14920	262	28	the	the	DET
ajfa-14920	262	29	guarantee	guarantee	NOUN
ajfa-14920	262	30	value	value	NOUN
ajfa-14920	262	31	of	of	ADP
ajfa-14920	262	32	the	the	DET
ajfa-14920	262	33	asset	asset	NOUN
ajfa-14920	262	34	,	,	PUNCT
ajfa-14920	262	35	only	only	ADV
ajfa-14920	262	36	the	the	DET
ajfa-14920	262	37	material	material	NOUN
ajfa-14920	262	38	properties	property	NOUN
ajfa-14920	262	39	will	will	AUX
ajfa-14920	262	40	be	be	AUX
ajfa-14920	262	41	taken	take	VERB
ajfa-14920	262	42	into	into	ADP
ajfa-14920	262	43	consideration	consideration	NOUN
ajfa-14920	262	44	,	,	PUNCT
ajfa-14920	262	45	and	and	CCONJ
ajfa-14920	262	46	its	its	PRON
ajfa-14920	262	47	specificity	specificity	NOUN
ajfa-14920	262	48	will	will	AUX
ajfa-14920	262	49	be	be	AUX
ajfa-14920	262	50	ignored	ignore	VERB
ajfa-14920	262	51	.	.	PUNCT
ajfa-14920	263	1	this	this	DET
ajfa-14920	263	2	situation	situation	NOUN
ajfa-14920	263	3	is	be	AUX
ajfa-14920	263	4	also	also	ADV
ajfa-14920	263	5	mentioned	mention	VERB
ajfa-14920	263	6	in	in	ADP
ajfa-14920	263	7	the	the	DET
ajfa-14920	263	8	policy	policy	NOUN
ajfa-14920	263	9	burden	burden	NOUN
ajfa-14920	263	10	and	and	CCONJ
ajfa-14920	263	11	budget	budget	NOUN
ajfa-14920	263	12	soft	soft	ADJ
ajfa-14920	263	13	constraint	constraint	NOUN
ajfa-14920	263	14	of	of	ADP
ajfa-14920	263	15	china	china	PROPN
ajfa-14920	263	16	’s	’s	PART
ajfa-14920	263	17	commercial	commercial	ADJ
ajfa-14920	263	18	banks	bank	NOUN
ajfa-14920	263	19	proposed	propose	VERB
ajfa-14920	263	20	by	by	ADP
ajfa-14920	263	21	lin	lin	PROPN
ajfa-14920	263	22	and	and	CCONJ
ajfa-14920	263	23	li	li	PROPN
ajfa-14920	263	24	(	(	PUNCT
ajfa-14920	263	25	2004	2004	NUM
ajfa-14920	263	26	)	)	PUNCT
ajfa-14920	263	27	,	,	PUNCT
ajfa-14920	263	28	which	which	PRON
ajfa-14920	263	29	is	be	AUX
ajfa-14920	263	30	,	,	PUNCT
ajfa-14920	263	31	the	the	DET
ajfa-14920	263	32	non	non	ADJ
ajfa-14920	263	33	-	-	ADJ
ajfa-14920	263	34	marketization	marketization	ADJ
ajfa-14920	263	35	behavior	behavior	NOUN
ajfa-14920	263	36	of	of	ADP
ajfa-14920	263	37	financial	financial	ADJ
ajfa-14920	263	38	resources	resource	NOUN
ajfa-14920	263	39	allocation	allocation	NOUN
ajfa-14920	263	40	.	.	PUNCT
ajfa-14920	264	1	on	on	ADP
ajfa-14920	264	2	the	the	DET
ajfa-14920	264	3	other	other	ADJ
ajfa-14920	264	4	hand	hand	NOUN
ajfa-14920	264	5	,	,	PUNCT
ajfa-14920	264	6	the	the	DET
ajfa-14920	264	7	financial	financial	ADJ
ajfa-14920	264	8	mismatch	mismatch	NOUN
ajfa-14920	264	9	that	that	PRON
ajfa-14920	264	10	deviates	deviate	VERB
ajfa-14920	264	11	from	from	ADP
ajfa-14920	264	12	the	the	DET
ajfa-14920	264	13	market	market	NOUN
ajfa-14920	264	14	has	have	AUX
ajfa-14920	264	15	changed	change	VERB
ajfa-14920	264	16	the	the	DET
ajfa-14920	264	17	governance	governance	NOUN
ajfa-14920	264	18	structure	structure	NOUN
ajfa-14920	264	19	of	of	ADP
ajfa-14920	264	20	debt	debt	NOUN
ajfa-14920	264	21	financing	financing	NOUN
ajfa-14920	264	22	.	.	PUNCT
ajfa-14920	265	1	a	a	DET
ajfa-14920	265	2	high	high	ADJ
ajfa-14920	265	3	asset	asset	NOUN
ajfa-14920	265	4	specificity	specificity	NOUN
ajfa-14920	265	5	can	can	AUX
ajfa-14920	265	6	reduce	reduce	VERB
ajfa-14920	265	7	transaction	transaction	NOUN
ajfa-14920	265	8	costs	cost	NOUN
ajfa-14920	265	9	by	by	ADP
ajfa-14920	265	10	adopting	adopt	VERB
ajfa-14920	265	11	high	high	ADJ
ajfa-14920	265	12	debt	debt	NOUN
ajfa-14920	265	13	financing	financing	NOUN
ajfa-14920	265	14	instead	instead	ADV
ajfa-14920	265	15	.	.	PUNCT
ajfa-14920	266	1	in	in	ADP
ajfa-14920	266	2	the	the	DET
ajfa-14920	266	3	sample	sample	NOUN
ajfa-14920	266	4	of	of	ADP
ajfa-14920	266	5	private	private	ADJ
ajfa-14920	266	6	listed	list	VERB
ajfa-14920	266	7	companies	company	NOUN
ajfa-14920	266	8	,	,	PUNCT
ajfa-14920	266	9	asset	asset	NOUN
ajfa-14920	266	10	specificity	specificity	NOUN
ajfa-14920	266	11	and	and	CCONJ
ajfa-14920	266	12	corporate	corporate	ADJ
ajfa-14920	266	13	long	long	ADJ
ajfa-14920	266	14	-	-	PUNCT
ajfa-14920	266	15	term	term	NOUN
ajfa-14920	266	16	debt	debt	NOUN
ajfa-14920	266	17	ratio	ratio	NOUN
ajfa-14920	266	18	still	still	ADV
ajfa-14920	266	19	shows	show	VERB
ajfa-14920	266	20	a	a	DET
ajfa-14920	266	21	significant	significant	ADJ
ajfa-14920	266	22	positive	positive	ADJ
ajfa-14920	266	23	correlation	correlation	NOUN
ajfa-14920	266	24	,	,	PUNCT
ajfa-14920	266	25	which	which	PRON
ajfa-14920	266	26	rejects	reject	VERB
ajfa-14920	266	27	e	e	PROPN
ajfa-14920	266	28	hypothesis	hypothesis	NOUN
ajfa-14920	266	29	2c	2c	NOUN
ajfa-14920	266	30	of	of	ADP
ajfa-14920	266	31	this	this	DET
ajfa-14920	266	32	paper	paper	NOUN
ajfa-14920	266	33	.	.	PUNCT
ajfa-14920	267	1	in	in	ADP
ajfa-14920	267	2	decision	decision	NOUN
ajfa-14920	267	3	of	of	ADP
ajfa-14920	267	4	making	make	VERB
ajfa-14920	267	5	credit	credit	NOUN
ajfa-14920	267	6	loan	loan	NOUN
ajfa-14920	267	7	to	to	ADP
ajfa-14920	267	8	private	private	ADJ
ajfa-14920	267	9	listed	list	VERB
ajfa-14920	267	10	companies	company	NOUN
ajfa-14920	267	11	,	,	PUNCT
ajfa-14920	267	12	creditors	creditor	NOUN
ajfa-14920	267	13	are	be	AUX
ajfa-14920	267	14	considered	consider	VERB
ajfa-14920	267	15	to	to	PART
ajfa-14920	267	16	be	be	AUX
ajfa-14920	267	17	more	more	ADV
ajfa-14920	267	18	cautious	cautious	ADJ
ajfa-14920	267	19	about	about	ADP
ajfa-14920	267	20	the	the	DET
ajfa-14920	267	21	company	company	NOUN
ajfa-14920	267	22	’s	’s	PART
ajfa-14920	267	23	asset	asset	NOUN
ajfa-14920	267	24	specificity	specificity	NOUN
ajfa-14920	267	25	in	in	ADP
ajfa-14920	267	26	order	order	NOUN
ajfa-14920	267	27	to	to	PART
ajfa-14920	267	28	reduce	reduce	VERB
ajfa-14920	267	29	risks	risk	NOUN
ajfa-14920	267	30	.	.	PUNCT
ajfa-14920	268	1	therefore	therefore	ADV
ajfa-14920	268	2	,	,	PUNCT
ajfa-14920	268	3	debt	debt	NOUN
ajfa-14920	268	4	financing	financing	NOUN
ajfa-14920	268	5	will	will	AUX
ajfa-14920	268	6	effectively	effectively	ADV
ajfa-14920	268	7	maintain	maintain	VERB
ajfa-14920	268	8	and	and	CCONJ
ajfa-14920	268	9	play	play	VERB
ajfa-14920	268	10	its	its	PRON
ajfa-14920	268	11	role	role	NOUN
ajfa-14920	268	12	in	in	ADP
ajfa-14920	268	13	market	market	NOUN
ajfa-14920	268	14	governance	governance	NOUN
ajfa-14920	268	15	.	.	PUNCT
ajfa-14920	269	1	this	this	PRON
ajfa-14920	269	2	is	be	AUX
ajfa-14920	269	3	in	in	ADP
ajfa-14920	269	4	line	line	NOUN
ajfa-14920	269	5	with	with	ADP
ajfa-14920	269	6	the	the	DET
ajfa-14920	269	7	basic	basic	ADJ
ajfa-14920	269	8	logic	logic	NOUN
ajfa-14920	269	9	of	of	ADP
ajfa-14920	269	10	transaction	transaction	NOUN
ajfa-14920	269	11	cost	cost	NOUN
ajfa-14920	269	12	economics	economic	NOUN
ajfa-14920	269	13	,	,	PUNCT
ajfa-14920	269	14	asset	asset	NOUN
ajfa-14920	269	15	specificity	specificity	NOUN
ajfa-14920	269	16	acts	act	VERB
ajfa-14920	269	17	on	on	ADP
ajfa-14920	269	18	the	the	DET
ajfa-14920	269	19	capital	capital	NOUN
ajfa-14920	269	20	structure	structure	NOUN
ajfa-14920	269	21	through	through	ADP
ajfa-14920	269	22	the	the	DET
ajfa-14920	269	23	governance	governance	NOUN
ajfa-14920	269	24	structure	structure	NOUN
ajfa-14920	269	25	attributes	attribute	NOUN
ajfa-14920	269	26	of	of	ADP
ajfa-14920	269	27	different	different	ADJ
ajfa-14920	269	28	financing	financing	NOUN
ajfa-14920	269	29	methods	method	NOUN
ajfa-14920	269	30	.	.	PUNCT
ajfa-14920	270	1	however	however	ADV
ajfa-14920	270	2	,	,	PUNCT
ajfa-14920	270	3	the	the	DET
ajfa-14920	270	4	result	result	NOUN
ajfa-14920	270	5	of	of	ADP
ajfa-14920	270	6	the	the	DET
ajfa-14920	270	7	regression	regression	NOUN
ajfa-14920	270	8	is	be	AUX
ajfa-14920	270	9	in	in	ADP
ajfa-14920	270	10	opposite	opposite	ADJ
ajfa-14920	270	11	and	and	CCONJ
ajfa-14920	270	12	reveals	reveal	VERB
ajfa-14920	270	13	that	that	SCONJ
ajfa-14920	270	14	increasing	increase	VERB
ajfa-14920	270	15	the	the	DET
ajfa-14920	270	16	asset	asset	NOUN
ajfa-14920	270	17	specificity	specificity	NOUN
ajfa-14920	270	18	will	will	AUX
ajfa-14920	270	19	not	not	PART
ajfa-14920	270	20	decrease	decrease	VERB
ajfa-14920	270	21	the	the	DET
ajfa-14920	270	22	financial	financial	ADJ
ajfa-14920	270	23	mismatch	mismatch	NOUN
ajfa-14920	270	24	level	level	NOUN
ajfa-14920	270	25	of	of	ADP
ajfa-14920	270	26	an	an	DET
ajfa-14920	270	27	enterprise	enterprise	NOUN
ajfa-14920	270	28	.	.	PUNCT
ajfa-14920	271	1	in	in	ADP
ajfa-14920	271	2	the	the	DET
ajfa-14920	271	3	full	full	ADJ
ajfa-14920	271	4	sample	sample	NOUN
ajfa-14920	271	5	and	and	CCONJ
ajfa-14920	271	6	the	the	DET
ajfa-14920	271	7	subsample	subsample	NOUN
ajfa-14920	271	8	,	,	PUNCT
ajfa-14920	271	9	the	the	DET
ajfa-14920	271	10	relationship	relationship	NOUN
ajfa-14920	271	11	between	between	ADP
ajfa-14920	271	12	the	the	DET
ajfa-14920	271	13	return	return	NOUN
ajfa-14920	271	14	on	on	ADP
ajfa-14920	271	15	total	total	ADJ
ajfa-14920	271	16	assets	asset	NOUN
ajfa-14920	271	17	and	and	CCONJ
ajfa-14920	271	18	the	the	DET
ajfa-14920	271	19	long	long	ADJ
ajfa-14920	271	20	-	-	PUNCT
ajfa-14920	271	21	term	term	NOUN
ajfa-14920	271	22	debt	debt	NOUN
ajfa-14920	271	23	ratio	ratio	NOUN
ajfa-14920	271	24	is	be	AUX
ajfa-14920	271	25	consistent	consistent	ADJ
ajfa-14920	271	26	with	with	ADP
ajfa-14920	271	27	the	the	DET
ajfa-14920	271	28	regression	regression	NOUN
ajfa-14920	271	29	results	result	NOUN
ajfa-14920	271	30	of	of	ADP
ajfa-14920	271	31	the	the	DET
ajfa-14920	271	32	model	model	NOUN
ajfa-14920	271	33	(	(	PUNCT
ajfa-14920	271	34	1	1	NUM
ajfa-14920	271	35	)	)	PUNCT
ajfa-14920	271	36	.	.	PUNCT
ajfa-14920	272	1	listed	list	VERB
ajfa-14920	272	2	companies	company	NOUN
ajfa-14920	272	3	with	with	ADP
ajfa-14920	272	4	more	more	ADJ
ajfa-14920	272	5	debt	debt	NOUN
ajfa-14920	272	6	capital	capital	NOUN
ajfa-14920	272	7	company	company	NOUN
ajfa-14920	272	8	with	with	ADP
ajfa-14920	272	9	lower	low	ADJ
ajfa-14920	272	10	performance	performance	NOUN
ajfa-14920	272	11	instead	instead	ADV
ajfa-14920	272	12	.	.	PUNCT
ajfa-14920	273	1	the	the	DET
ajfa-14920	273	2	phenomenon	phenomenon	NOUN
ajfa-14920	273	3	of	of	ADP
ajfa-14920	273	4	financial	financial	ADJ
ajfa-14920	273	5	mismatch	mismatch	NOUN
ajfa-14920	273	6	seriously	seriously	ADV
ajfa-14920	273	7	affects	affect	VERB
ajfa-14920	273	8	the	the	DET
ajfa-14920	273	9	efficiency	efficiency	NOUN
ajfa-14920	273	10	of	of	ADP
ajfa-14920	273	11	financial	financial	ADJ
ajfa-14920	273	12	resources	resource	NOUN
ajfa-14920	273	13	.	.	PUNCT
ajfa-14920	274	1	the	the	DET
ajfa-14920	274	2	size	size	NOUN
ajfa-14920	274	3	of	of	ADP
ajfa-14920	274	4	the	the	DET
ajfa-14920	274	5	firm	firm	NOUN
ajfa-14920	274	6	is	be	AUX
ajfa-14920	274	7	positively	positively	ADV
ajfa-14920	274	8	correlated	correlate	VERB
ajfa-14920	274	9	with	with	ADP
ajfa-14920	274	10	the	the	DET
ajfa-14920	274	11	long	long	ADJ
ajfa-14920	274	12	-	-	PUNCT
ajfa-14920	274	13	term	term	NOUN
ajfa-14920	274	14	debt	debt	NOUN
ajfa-14920	274	15	ratio	ratio	NOUN
ajfa-14920	274	16	,	,	PUNCT
ajfa-14920	274	17	indicating	indicate	VERB
ajfa-14920	274	18	that	that	SCONJ
ajfa-14920	274	19	companies	company	NOUN
ajfa-14920	274	20	with	with	ADP
ajfa-14920	274	21	more	more	ADJ
ajfa-14920	274	22	assets	asset	NOUN
ajfa-14920	274	23	and	and	CCONJ
ajfa-14920	274	24	larger	large	ADJ
ajfa-14920	274	25	scales	scale	NOUN
ajfa-14920	274	26	are	be	AUX
ajfa-14920	274	27	more	more	ADV
ajfa-14920	274	28	likely	likely	ADJ
ajfa-14920	274	29	to	to	PART
ajfa-14920	274	30	obtain	obtain	VERB
ajfa-14920	274	31	long	long	ADJ
ajfa-14920	274	32	-	-	PUNCT
ajfa-14920	274	33	term	term	NOUN
ajfa-14920	274	34	borrowing	borrowing	NOUN
ajfa-14920	274	35	.	.	PUNCT
ajfa-14920	275	1	growth	growth	NOUN
ajfa-14920	275	2	is	be	AUX
ajfa-14920	275	3	positively	positively	ADV
ajfa-14920	275	4	correlated	correlate	VERB
ajfa-14920	275	5	with	with	ADP
ajfa-14920	275	6	long	long	ADJ
ajfa-14920	275	7	-	-	PUNCT
ajfa-14920	275	8	term	term	NOUN
ajfa-14920	275	9	debt	debt	NOUN
ajfa-14920	275	10	ratios	ratio	NOUN
ajfa-14920	275	11	in	in	ADP
ajfa-14920	275	12	both	both	CCONJ
ajfa-14920	275	13	full	full	ADJ
ajfa-14920	275	14	and	and	CCONJ
ajfa-14920	275	15	subsamples	subsample	NOUN
ajfa-14920	275	16	,	,	PUNCT
ajfa-14920	275	17	but	but	CCONJ
ajfa-14920	275	18	the	the	DET
ajfa-14920	275	19	correlation	correlation	NOUN
ajfa-14920	275	20	is	be	AUX
ajfa-14920	275	21	not	not	PART
ajfa-14920	275	22	significant	significant	ADJ
ajfa-14920	275	23	.	.	PUNCT
ajfa-14920	276	1	the	the	DET
ajfa-14920	276	2	shareholding	shareholding	NOUN
ajfa-14920	276	3	structure	structure	NOUN
ajfa-14920	276	4	was	be	AUX
ajfa-14920	276	5	negatively	negatively	ADV
ajfa-14920	276	6	correlated	correlate	VERB
ajfa-14920	276	7	with	with	ADP
ajfa-14920	276	8	the	the	DET
ajfa-14920	276	9	long	long	ADJ
ajfa-14920	276	10	-	-	PUNCT
ajfa-14920	276	11	term	term	NOUN
ajfa-14920	276	12	debt	debt	NOUN
ajfa-14920	276	13	ratio	ratio	NOUN
ajfa-14920	276	14	in	in	ADP
ajfa-14920	276	15	the	the	DET
ajfa-14920	276	16	full	full	ADJ
ajfa-14920	276	17	sample	sample	NOUN
ajfa-14920	276	18	and	and	CCONJ
ajfa-14920	276	19	the	the	DET
ajfa-14920	276	20	sub	sub	NOUN
ajfa-14920	276	21	-	-	NOUN
ajfa-14920	276	22	sample	sample	NOUN
ajfa-14920	276	23	,	,	PUNCT
ajfa-14920	276	24	but	but	CCONJ
ajfa-14920	276	25	the	the	DET
ajfa-14920	276	26	correlation	correlation	NOUN
ajfa-14920	276	27	is	be	AUX
ajfa-14920	276	28	also	also	ADV
ajfa-14920	276	29	not	not	PART
ajfa-14920	276	30	significant	significant	ADJ
ajfa-14920	276	31	.	.	PUNCT
ajfa-14920	277	1	the	the	DET
ajfa-14920	277	2	dividend	dividend	NOUN
ajfa-14920	277	3	payout	payout	NOUN
ajfa-14920	277	4	ratio	ratio	NOUN
ajfa-14920	277	5	is	be	AUX
ajfa-14920	277	6	significantly	significantly	ADV
ajfa-14920	277	7	positively	positively	ADV
ajfa-14920	277	8	correlated	correlate	VERB
ajfa-14920	277	9	with	with	ADP
ajfa-14920	277	10	the	the	DET
ajfa-14920	277	11	long	long	ADJ
ajfa-14920	277	12	-	-	PUNCT
ajfa-14920	277	13	term	term	NOUN
ajfa-14920	277	14	debt	debt	NOUN
ajfa-14920	277	15	ratio	ratio	NOUN
ajfa-14920	277	16	in	in	ADP
ajfa-14920	277	17	the	the	DET
ajfa-14920	277	18	sample	sample	NOUN
ajfa-14920	277	19	of	of	ADP
ajfa-14920	277	20	private	private	ADJ
ajfa-14920	277	21	enterprises	enterprise	NOUN
ajfa-14920	277	22	,	,	PUNCT
ajfa-14920	277	23	indicating	indicate	VERB
ajfa-14920	277	24	that	that	SCONJ
ajfa-14920	277	25	the	the	DET
ajfa-14920	277	26	more	more	ADJ
ajfa-14920	277	27	cash	cash	NOUN
ajfa-14920	277	28	dividends	dividend	NOUN
ajfa-14920	277	29	allocated	allocate	VERB
ajfa-14920	277	30	by	by	ADP
ajfa-14920	277	31	private	private	ADJ
ajfa-14920	277	32	enterprises	enterprise	NOUN
ajfa-14920	277	33	,	,	PUNCT
ajfa-14920	277	34	the	the	DET
ajfa-14920	277	35	more	more	ADJ
ajfa-14920	277	36	surplus	surplus	NOUN
ajfa-14920	277	37	they	they	PRON
ajfa-14920	277	38	may	may	AUX
ajfa-14920	277	39	retain	retain	VERB
ajfa-14920	277	40	,	,	PUNCT
ajfa-14920	277	41	and	and	CCONJ
ajfa-14920	277	42	the	the	PRON
ajfa-14920	277	43	lower	low	ADJ
ajfa-14920	277	44	the	the	DET
ajfa-14920	277	45	demand	demand	NOUN
ajfa-14920	277	46	for	for	ADP
ajfa-14920	277	47	financing	finance	VERB
ajfa-14920	277	48	long	long	ADJ
ajfa-14920	277	49	-	-	PUNCT
ajfa-14920	277	50	term	term	NOUN
ajfa-14920	277	51	debt	debt	NOUN
ajfa-14920	277	52	.	.	PUNCT
ajfa-14920	278	1	the	the	DET
ajfa-14920	278	2	non	non	ADJ
ajfa-14920	278	3	-	-	ADJ
ajfa-14920	278	4	debt	debt	ADJ
ajfa-14920	278	5	tax	tax	NOUN
ajfa-14920	278	6	shield	shield	NOUN
ajfa-14920	278	7	is	be	AUX
ajfa-14920	278	8	significantly	significantly	ADV
ajfa-14920	278	9	negatively	negatively	ADV
ajfa-14920	278	10	correlated	correlate	VERB
ajfa-14920	278	11	with	with	ADP
ajfa-14920	278	12	the	the	DET
ajfa-14920	278	13	longterm	longterm	ADJ
ajfa-14920	278	14	debt	debt	NOUN
ajfa-14920	278	15	ratio	ratio	NOUN
ajfa-14920	278	16	in	in	ADP
ajfa-14920	278	17	the	the	DET
ajfa-14920	278	18	sample	sample	NOUN
ajfa-14920	278	19	of	of	ADP
ajfa-14920	278	20	the	the	DET
ajfa-14920	278	21	total	total	ADJ
ajfa-14920	278	22	sample	sample	NOUN
ajfa-14920	278	23	and	and	CCONJ
ajfa-14920	278	24	the	the	DET
ajfa-14920	278	25	state	state	NOUN
ajfa-14920	278	26	-	-	PUNCT
ajfa-14920	278	27	controlled	control	VERB
ajfa-14920	278	28	listed	list	VERB
ajfa-14920	278	29	company	company	NOUN
ajfa-14920	278	30	.	.	PUNCT
ajfa-14920	279	1	companies	company	NOUN
ajfa-14920	279	2	with	with	ADP
ajfa-14920	279	3	large	large	ADJ
ajfa-14920	279	4	non	non	ADJ
ajfa-14920	279	5	-	-	ADJ
ajfa-14920	279	6	debt	debt	ADJ
ajfa-14920	279	7	tax	tax	NOUN
ajfa-14920	279	8	shields	shield	NOUN
ajfa-14920	279	9	use	use	VERB
ajfa-14920	279	10	less	less	ADJ
ajfa-14920	279	11	debt	debt	NOUN
ajfa-14920	279	12	than	than	ADP
ajfa-14920	279	13	companies	company	NOUN
ajfa-14920	279	14	without	without	ADP
ajfa-14920	279	15	non	non	ADJ
ajfa-14920	279	16	-	-	ADJ
ajfa-14920	279	17	debt	debt	ADJ
ajfa-14920	279	18	tax	tax	NOUN
ajfa-14920	279	19	shields	shield	NOUN
ajfa-14920	279	20	,	,	PUNCT
ajfa-14920	279	21	and	and	CCONJ
ajfa-14920	279	22	non	non	ADJ
ajfa-14920	279	23	-	-	ADJ
ajfa-14920	279	24	debt	debt	ADJ
ajfa-14920	279	25	tax	tax	NOUN
ajfa-14920	279	26	shields	shield	NOUN
ajfa-14920	279	27	can	can	AUX
ajfa-14920	279	28	be	be	AUX
ajfa-14920	279	29	used	use	VERB
ajfa-14920	279	30	as	as	ADP
ajfa-14920	279	31	a	a	DET
ajfa-14920	279	32	substitute	substitute	NOUN
ajfa-14920	279	33	for	for	ADP
ajfa-14920	279	34	debt	debt	NOUN
ajfa-14920	279	35	to	to	PART
ajfa-14920	279	36	reduce	reduce	VERB
ajfa-14920	279	37	corporate	corporate	ADJ
ajfa-14920	279	38	tax	tax	NOUN
ajfa-14920	279	39	burdens	burden	NOUN
ajfa-14920	279	40	.	.	PUNCT
ajfa-14920	280	1	in	in	ADP
ajfa-14920	280	2	robustness	robustness	NOUN
ajfa-14920	280	3	check	check	NOUN
ajfa-14920	280	4	,	,	PUNCT
ajfa-14920	280	5	this	this	DET
ajfa-14920	280	6	paper	paper	NOUN
ajfa-14920	280	7	used	use	VERB
ajfa-14920	280	8	pcse	pcse	NOUN
ajfa-14920	280	9	,	,	PUNCT
ajfa-14920	280	10	system	system	NOUN
ajfa-14920	280	11	gmm	gmm	NOUN
ajfa-14920	280	12	,	,	PUNCT
ajfa-14920	280	13	seemingly	seemingly	ADV
ajfa-14920	280	14	unrelated	unrelated	ADJ
ajfa-14920	280	15	regression	regression	NOUN
ajfa-14920	280	16	and	and	CCONJ
ajfa-14920	280	17	three	three	NUM
ajfa-14920	280	18	-	-	PUNCT
ajfa-14920	280	19	stage	stage	NOUN
ajfa-14920	280	20	model	model	NOUN
ajfa-14920	280	21	on	on	ADP
ajfa-14920	280	22	the	the	DET
ajfa-14920	280	23	sample	sample	NOUN
ajfa-14920	280	24	with	with	ADP
ajfa-14920	280	25	a	a	DET
ajfa-14920	280	26	phase	phase	NOUN
ajfa-14920	280	27	lag	lag	NOUN
ajfa-14920	280	28	.	.	PUNCT
ajfa-14920	281	1	the	the	DET
ajfa-14920	281	2	regression	regression	NOUN
ajfa-14920	281	3	results	result	NOUN
ajfa-14920	281	4	are	be	AUX
ajfa-14920	281	5	shown	show	VERB
ajfa-14920	281	6	as	as	SCONJ
ajfa-14920	281	7	follows	follow	VERB
ajfa-14920	281	8	,	,	PUNCT
ajfa-14920	281	9	asian	asian	ADJ
ajfa-14920	281	10	journal	journal	NOUN
ajfa-14920	281	11	of	of	ADP
ajfa-14920	281	12	finance	finance	PROPN
ajfa-14920	281	13	&	&	CCONJ
ajfa-14920	281	14	accounting	accounting	PROPN
ajfa-14920	281	15	issn	issn	PROPN
ajfa-14920	281	16	1946	1946	NUM
ajfa-14920	281	17	-	-	PUNCT
ajfa-14920	281	18	052x	052x	PROPN
ajfa-14920	281	19	2019	2019	NUM
ajfa-14920	281	20	,	,	PUNCT
ajfa-14920	281	21	vol	vol	NOUN
ajfa-14920	281	22	.	.	PROPN
ajfa-14920	282	1	11	11	NUM
ajfa-14920	282	2	,	,	PUNCT
ajfa-14920	282	3	no	no	INTJ
ajfa-14920	282	4	.	.	NOUN
ajfa-14920	282	5	2	2	NUM
ajfa-14920	282	6	ajfa.macrothink.org/	ajfa.macrothink.org/	VERB
ajfa-14920	282	7	252	252	NUM
ajfa-14920	282	8	table	table	NOUN
ajfa-14920	282	9	7	7	NUM
ajfa-14920	282	10	.	.	PUNCT
ajfa-14920	282	11	robustness	robustness	NOUN
ajfa-14920	282	12	check	check	NOUN
ajfa-14920	282	13	and	and	CCONJ
ajfa-14920	282	14	further	further	ADJ
ajfa-14920	282	15	discussion	discussion	NOUN
ajfa-14920	282	16	variables	variable	VERB
ajfa-14920	282	17	pcse	pcse	PROPN
ajfa-14920	282	18	system	system	NOUN
ajfa-14920	282	19	gmm	gmm	X
ajfa-14920	282	20	seemingly	seemingly	ADV
ajfa-14920	282	21	unrelated	unrelated	ADJ
ajfa-14920	282	22	regression	regression	NOUN
ajfa-14920	282	23	three	three	NUM
ajfa-14920	282	24	-	-	PUNCT
ajfa-14920	282	25	stage	stage	NOUN
ajfa-14920	282	26	roa	roa	PROPN
ajfa-14920	282	27	lon	lon	PROPN
ajfa-14920	282	28	roa	roa	PROPN
ajfa-14920	282	29	lon	lon	PROPN
ajfa-14920	282	30	roa	roa	PROPN
ajfa-14920	282	31	lon	lon	PROPN
ajfa-14920	282	32	roa	roa	PROPN
ajfa-14920	282	33	lon	lon	PROPN
ajfa-14920	282	34	l.lon	l.lon	PROPN
ajfa-14920	282	35	-0.115	-0.115	PROPN
ajfa-14920	282	36	*	*	PUNCT
ajfa-14920	282	37	*	*	PUNCT
ajfa-14920	282	38	*	*	PUNCT
ajfa-14920	282	39	0.0212	0.0212	NUM
ajfa-14920	282	40	*	*	PUNCT
ajfa-14920	282	41	0.793	0.793	NUM
ajfa-14920	282	42	*	*	PUNCT
ajfa-14920	282	43	*	*	PUNCT
ajfa-14920	282	44	*	*	PUNCT
ajfa-14920	282	45	-0.152	-0.152	PUNCT
ajfa-14920	282	46	*	*	PUNCT
ajfa-14920	282	47	*	*	PUNCT
ajfa-14920	282	48	*	*	PUNCT
ajfa-14920	282	49	-0.147	-0.147	PROPN
ajfa-14920	282	50	*	*	PUNCT
ajfa-14920	282	51	*	*	PUNCT
ajfa-14920	282	52	*	*	PUNCT
ajfa-14920	282	53	(	(	PUNCT
ajfa-14920	282	54	-6.07	-6.07	NUM
ajfa-14920	282	55	)	)	PUNCT
ajfa-14920	282	56	(	(	PUNCT
ajfa-14920	282	57	1.66	1.66	NUM
ajfa-14920	282	58	)	)	PUNCT
ajfa-14920	282	59	(	(	PUNCT
ajfa-14920	282	60	17.58	17.58	NUM
ajfa-14920	282	61	)	)	PUNCT
ajfa-14920	282	62	(	(	PUNCT
ajfa-14920	282	63	-16.70	-16.70	NOUN
ajfa-14920	282	64	)	)	PUNCT
ajfa-14920	282	65	(	(	PUNCT
ajfa-14920	282	66	-15.66	-15.66	X
ajfa-14920	282	67	)	)	PUNCT
ajfa-14920	282	68	l.fm	l.fm	ADJ
ajfa-14920	282	69	-0.00128	-0.00128	NOUN
ajfa-14920	282	70	*	*	PUNCT
ajfa-14920	282	71	*	*	PUNCT
ajfa-14920	282	72	*	*	PUNCT
ajfa-14920	282	73	-0.000847	-0.000847	NOUN
ajfa-14920	282	74	-0.00127	-0.00127	NOUN
ajfa-14920	282	75	-0.00211	-0.00211	PROPN
ajfa-14920	283	1	*	*	PUNCT
ajfa-14920	283	2	*	*	PUNCT
ajfa-14920	283	3	*	*	PUNCT
ajfa-14920	283	4	(	(	PUNCT
ajfa-14920	283	5	-2.92	-2.92	NUM
ajfa-14920	283	6	)	)	PUNCT
ajfa-14920	283	7	(	(	PUNCT
ajfa-14920	283	8	-0.78	-0.78	NUM
ajfa-14920	283	9	)	)	PUNCT
ajfa-14920	283	10	(	(	PUNCT
ajfa-14920	283	11	-1.60	-1.60	NUM
ajfa-14920	283	12	)	)	PUNCT
ajfa-14920	283	13	(	(	PUNCT
ajfa-14920	283	14	-2.81	-2.81	NUM
ajfa-14920	283	15	)	)	PUNCT
ajfa-14920	283	16	l.fmlon	l.fmlon	NOUN
ajfa-14920	283	17	0.0373	0.0373	NUM
ajfa-14920	283	18	*	*	PUNCT
ajfa-14920	283	19	*	*	PUNCT
ajfa-14920	283	20	*	*	PUNCT
ajfa-14920	283	21	0.00950	0.00950	NUM
ajfa-14920	283	22	0.0407	0.0407	NUM
ajfa-14920	283	23	*	*	PUNCT
ajfa-14920	283	24	*	*	PUNCT
ajfa-14920	283	25	*	*	PUNCT
ajfa-14920	283	26	0.0454	0.0454	NUM
ajfa-14920	283	27	*	*	PUNCT
ajfa-14920	283	28	*	*	PUNCT
ajfa-14920	283	29	*	*	PUNCT
ajfa-14920	283	30	(	(	PUNCT
ajfa-14920	283	31	3.44	3.44	NUM
ajfa-14920	283	32	)	)	PUNCT
ajfa-14920	283	33	(	(	PUNCT
ajfa-14920	283	34	0.78	0.78	NUM
ajfa-14920	283	35	)	)	PUNCT
ajfa-14920	283	36	(	(	PUNCT
ajfa-14920	283	37	4.55	4.55	NUM
ajfa-14920	283	38	)	)	PUNCT
ajfa-14920	283	39	(	(	PUNCT
ajfa-14920	283	40	5.01	5.01	NUM
ajfa-14920	283	41	)	)	PUNCT
ajfa-14920	283	42	l.size	l.size	VERB
ajfa-14920	283	43	0.00265	0.00265	NUM
ajfa-14920	283	44	0.0715	0.0715	NUM
ajfa-14920	283	45	*	*	PUNCT
ajfa-14920	283	46	*	*	PUNCT
ajfa-14920	283	47	*	*	PUNCT
ajfa-14920	283	48	-0.0103	-0.0103	X
ajfa-14920	283	49	*	*	PUNCT
ajfa-14920	283	50	*	*	PUNCT
ajfa-14920	283	51	*	*	PUNCT
ajfa-14920	283	52	-0.0301	-0.0301	NOUN
ajfa-14920	284	1	*	*	PUNCT
ajfa-14920	285	1	*	*	PUNCT
ajfa-14920	285	2	*	*	PUNCT
ajfa-14920	285	3	0.00546	0.00546	NUM
ajfa-14920	285	4	*	*	PUNCT
ajfa-14920	285	5	*	*	PUNCT
ajfa-14920	285	6	*	*	PUNCT
ajfa-14920	286	1	0.0702	0.0702	NUM
ajfa-14920	286	2	*	*	PUNCT
ajfa-14920	286	3	*	*	PUNCT
ajfa-14920	286	4	*	*	PUNCT
ajfa-14920	286	5	0.00666	0.00666	NUM
ajfa-14920	286	6	*	*	PUNCT
ajfa-14920	286	7	*	*	PUNCT
ajfa-14920	286	8	*	*	PUNCT
ajfa-14920	286	9	0.0648	0.0648	NUM
ajfa-14920	286	10	*	*	PUNCT
ajfa-14920	286	11	*	*	PUNCT
ajfa-14920	286	12	*	*	PUNCT
ajfa-14920	286	13	(	(	PUNCT
ajfa-14920	286	14	1.63	1.63	NUM
ajfa-14920	286	15	)	)	PUNCT
ajfa-14920	286	16	(	(	PUNCT
ajfa-14920	286	17	55.69	55.69	NUM
ajfa-14920	286	18	)	)	PUNCT
ajfa-14920	286	19	(	(	PUNCT
ajfa-14920	286	20	-4.58	-4.58	NUM
ajfa-14920	286	21	)	)	PUNCT
ajfa-14920	286	22	(	(	PUNCT
ajfa-14920	286	23	-4.74	-4.74	NUM
ajfa-14920	286	24	)	)	PUNCT
ajfa-14920	286	25	(	(	PUNCT
ajfa-14920	286	26	6.61	6.61	NUM
ajfa-14920	286	27	)	)	PUNCT
ajfa-14920	286	28	(	(	PUNCT
ajfa-14920	286	29	37.94	37.94	NUM
ajfa-14920	286	30	)	)	PUNCT
ajfa-14920	286	31	(	(	PUNCT
ajfa-14920	286	32	7.93	7.93	NUM
ajfa-14920	286	33	)	)	PUNCT
ajfa-14920	286	34	(	(	PUNCT
ajfa-14920	286	35	32.86	32.86	NUM
ajfa-14920	286	36	)	)	PUNCT
ajfa-14920	286	37	l.growth	l.growth	NOUN
ajfa-14920	286	38	0.0403	0.0403	NUM
ajfa-14920	286	39	*	*	PUNCT
ajfa-14920	286	40	*	*	PUNCT
ajfa-14920	286	41	*	*	PUNCT
ajfa-14920	286	42	0.0667	0.0667	NUM
ajfa-14920	286	43	*	*	PUNCT
ajfa-14920	286	44	*	*	PUNCT
ajfa-14920	286	45	*	*	PUNCT
ajfa-14920	286	46	-0.00532	-0.00532	PROPN
ajfa-14920	286	47	-0.0144	-0.0144	PROPN
ajfa-14920	287	1	0.0418	0.0418	NUM
ajfa-14920	287	2	*	*	PUNCT
ajfa-14920	287	3	*	*	PUNCT
ajfa-14920	287	4	*	*	PUNCT
ajfa-14920	287	5	0.0769	0.0769	NUM
ajfa-14920	287	6	*	*	PUNCT
ajfa-14920	287	7	*	*	PUNCT
ajfa-14920	287	8	*	*	PUNCT
ajfa-14920	287	9	0.0391	0.0391	NUM
ajfa-14920	287	10	*	*	PUNCT
ajfa-14920	287	11	*	*	PUNCT
ajfa-14920	287	12	*	*	PUNCT
ajfa-14920	287	13	0.0703	0.0703	NUM
ajfa-14920	287	14	*	*	PUNCT
ajfa-14920	287	15	*	*	PUNCT
ajfa-14920	287	16	*	*	PUNCT
ajfa-14920	287	17	(	(	PUNCT
ajfa-14920	287	18	4.60	4.60	NUM
ajfa-14920	287	19	)	)	PUNCT
ajfa-14920	287	20	(	(	PUNCT
ajfa-14920	287	21	3.86	3.86	NUM
ajfa-14920	287	22	)	)	PUNCT
ajfa-14920	287	23	(	(	PUNCT
ajfa-14920	287	24	-1.38	-1.38	NOUN
ajfa-14920	287	25	)	)	PUNCT
ajfa-14920	287	26	(	(	PUNCT
ajfa-14920	287	27	-1.41	-1.41	NOUN
ajfa-14920	287	28	)	)	PUNCT
ajfa-14920	287	29	(	(	PUNCT
ajfa-14920	287	30	10.76	10.76	NUM
ajfa-14920	287	31	)	)	PUNCT
ajfa-14920	287	32	(	(	PUNCT
ajfa-14920	287	33	6.84	6.84	NUM
ajfa-14920	287	34	)	)	PUNCT
ajfa-14920	287	35	(	(	PUNCT
ajfa-14920	287	36	10.63	10.63	NUM
ajfa-14920	287	37	)	)	PUNCT
ajfa-14920	287	38	(	(	PUNCT
ajfa-14920	287	39	6.58	6.58	NUM
ajfa-14920	287	40	)	)	PUNCT
ajfa-14920	287	41	l.ncsp	l.ncsp	VERB
ajfa-14920	287	42	0.0284	0.0284	NUM
ajfa-14920	287	43	*	*	PUNCT
ajfa-14920	287	44	*	*	PUNCT
ajfa-14920	287	45	*	*	PUNCT
ajfa-14920	287	46	-0.0584	-0.0584	NOUN
ajfa-14920	287	47	*	*	PUNCT
ajfa-14920	287	48	*	*	PUNCT
ajfa-14920	287	49	*	*	PUNCT
ajfa-14920	287	50	-0.0184	-0.0184	VERB
ajfa-14920	288	1	0.112	0.112	NUM
ajfa-14920	288	2	*	*	PUNCT
ajfa-14920	288	3	*	*	PUNCT
ajfa-14920	288	4	*	*	PUNCT
ajfa-14920	289	1	0.0253	0.0253	NUM
ajfa-14920	289	2	*	*	PUNCT
ajfa-14920	289	3	*	*	PUNCT
ajfa-14920	289	4	*	*	NOUN
ajfa-14920	289	5	-0.0454	-0.0454	NOUN
ajfa-14920	289	6	*	*	PUNCT
ajfa-14920	289	7	*	*	PUNCT
ajfa-14920	289	8	*	*	PUNCT
ajfa-14920	289	9	0.0188	0.0188	NUM
ajfa-14920	289	10	*	*	PUNCT
ajfa-14920	289	11	*	*	PUNCT
ajfa-14920	289	12	*	*	NOUN
ajfa-14920	289	13	-0.0504	-0.0504	NOUN
ajfa-14920	289	14	*	*	PUNCT
ajfa-14920	289	15	*	*	PUNCT
ajfa-14920	289	16	*	*	PUNCT
ajfa-14920	289	17	(	(	PUNCT
ajfa-14920	289	18	8.48	8.48	NUM
ajfa-14920	289	19	)	)	PUNCT
ajfa-14920	289	20	(	(	PUNCT
ajfa-14920	289	21	-5.01	-5.01	NOUN
ajfa-14920	289	22	)	)	PUNCT
ajfa-14920	289	23	(	(	PUNCT
ajfa-14920	289	24	-1.37	-1.37	NOUN
ajfa-14920	289	25	)	)	PUNCT
ajfa-14920	289	26	(	(	PUNCT
ajfa-14920	289	27	2.80	2.80	NUM
ajfa-14920	289	28	)	)	PUNCT
ajfa-14920	289	29	(	(	PUNCT
ajfa-14920	289	30	4.47	4.47	NUM
ajfa-14920	289	31	)	)	PUNCT
ajfa-14920	289	32	(	(	PUNCT
ajfa-14920	289	33	-2.82	-2.82	NUM
ajfa-14920	289	34	)	)	PUNCT
ajfa-14920	289	35	(	(	PUNCT
ajfa-14920	289	36	3.47	3.47	NUM
ajfa-14920	289	37	)	)	PUNCT
ajfa-14920	289	38	(	(	PUNCT
ajfa-14920	289	39	-3.27	-3.27	NUM
ajfa-14920	289	40	)	)	PUNCT
ajfa-14920	289	41	l.sto	l.sto	NOUN
ajfa-14920	289	42	0.00278	0.00278	NUM
ajfa-14920	289	43	-0.0602	-0.0602	NOUN
ajfa-14920	289	44	*	*	PUNCT
ajfa-14920	289	45	*	*	PUNCT
ajfa-14920	289	46	*	*	PUNCT
ajfa-14920	290	1	0.0325	0.0325	NUM
ajfa-14920	290	2	*	*	PUNCT
ajfa-14920	290	3	*	*	PUNCT
ajfa-14920	290	4	*	*	PUNCT
ajfa-14920	290	5	-0.0130	-0.0130	PROPN
ajfa-14920	290	6	0.00136	0.00136	NUM
ajfa-14920	290	7	-0.0642	-0.0642	VERB
ajfa-14920	290	8	*	*	PUNCT
ajfa-14920	290	9	*	*	PUNCT
ajfa-14920	290	10	*	*	PUNCT
ajfa-14920	290	11	-0.00109	-0.00109	ADJ
ajfa-14920	290	12	-0.0542	-0.0542	NOUN
ajfa-14920	291	1	*	*	PUNCT
ajfa-14920	292	1	*	*	PUNCT
ajfa-14920	292	2	*	*	PUNCT
ajfa-14920	292	3	(	(	PUNCT
ajfa-14920	292	4	0.66	0.66	NUM
ajfa-14920	292	5	)	)	PUNCT
ajfa-14920	292	6	(	(	PUNCT
ajfa-14920	292	7	-6.45	-6.45	X
ajfa-14920	292	8	)	)	PUNCT
ajfa-14920	292	9	(	(	PUNCT
ajfa-14920	292	10	8.32	8.32	NUM
ajfa-14920	292	11	)	)	PUNCT
ajfa-14920	292	12	(	(	PUNCT
ajfa-14920	292	13	-1.17	-1.17	NUM
ajfa-14920	292	14	)	)	PUNCT
ajfa-14920	292	15	(	(	PUNCT
ajfa-14920	292	16	0.39	0.39	NUM
ajfa-14920	292	17	)	)	PUNCT
ajfa-14920	292	18	(	(	PUNCT
ajfa-14920	292	19	-6.45	-6.45	X
ajfa-14920	292	20	)	)	PUNCT
ajfa-14920	292	21	(	(	PUNCT
ajfa-14920	292	22	-0.33	-0.33	NOUN
ajfa-14920	292	23	)	)	PUNCT
ajfa-14920	292	24	(	(	PUNCT
ajfa-14920	292	25	-5.74	-5.74	NUM
ajfa-14920	292	26	)	)	PUNCT
ajfa-14920	292	27	l.tax	l.tax	NOUN
ajfa-14920	292	28	0.0475	0.0475	NUM
ajfa-14920	292	29	*	*	PUNCT
ajfa-14920	292	30	*	*	PUNCT
ajfa-14920	292	31	*	*	PUNCT
ajfa-14920	292	32	-0.249	-0.249	PUNCT
ajfa-14920	292	33	*	*	PUNCT
ajfa-14920	292	34	*	*	PUNCT
ajfa-14920	292	35	*	*	PUNCT
ajfa-14920	292	36	0.133	0.133	NUM
ajfa-14920	292	37	*	*	PUNCT
ajfa-14920	292	38	*	*	PUNCT
ajfa-14920	292	39	*	*	PUNCT
ajfa-14920	292	40	0.355	0.355	NUM
ajfa-14920	292	41	*	*	PUNCT
ajfa-14920	292	42	*	*	PUNCT
ajfa-14920	292	43	*	*	PUNCT
ajfa-14920	292	44	0.0492	0.0492	NUM
ajfa-14920	292	45	*	*	PUNCT
ajfa-14920	292	46	*	*	PUNCT
ajfa-14920	292	47	*	*	PUNCT
ajfa-14920	292	48	-0.226	-0.226	PUNCT
ajfa-14920	292	49	*	*	PUNCT
ajfa-14920	292	50	*	*	PUNCT
ajfa-14920	292	51	*	*	PUNCT
ajfa-14920	292	52	0.0411	0.0411	NUM
ajfa-14920	292	53	*	*	PUNCT
ajfa-14920	292	54	*	*	PUNCT
ajfa-14920	292	55	*	*	PUNCT
ajfa-14920	292	56	-0.131	-0.131	PUNCT
ajfa-14920	292	57	*	*	PUNCT
ajfa-14920	292	58	*	*	PUNCT
ajfa-14920	292	59	*	*	PUNCT
ajfa-14920	292	60	(	(	PUNCT
ajfa-14920	292	61	4.63	4.63	NUM
ajfa-14920	292	62	)	)	PUNCT
ajfa-14920	292	63	(	(	PUNCT
ajfa-14920	292	64	-10.39	-10.39	PROPN
ajfa-14920	292	65	)	)	PUNCT
ajfa-14920	292	66	(	(	PUNCT
ajfa-14920	292	67	4.47	4.47	NUM
ajfa-14920	292	68	)	)	PUNCT
ajfa-14920	292	69	(	(	PUNCT
ajfa-14920	292	70	3.45	3.45	NUM
ajfa-14920	292	71	)	)	PUNCT
ajfa-14920	292	72	(	(	PUNCT
ajfa-14920	292	73	5.61	5.61	NUM
ajfa-14920	292	74	)	)	PUNCT
ajfa-14920	292	75	(	(	PUNCT
ajfa-14920	292	76	-7.19	-7.19	X
ajfa-14920	292	77	)	)	PUNCT
ajfa-14920	292	78	(	(	PUNCT
ajfa-14920	292	79	4.41	4.41	NUM
ajfa-14920	292	80	)	)	PUNCT
ajfa-14920	292	81	(	(	PUNCT
ajfa-14920	292	82	-4.17	-4.17	NOUN
ajfa-14920	292	83	)	)	PUNCT
ajfa-14920	292	84	l.asi	l.asi	NOUN
ajfa-14920	292	85	0.253	0.253	NUM
ajfa-14920	292	86	*	*	PUNCT
ajfa-14920	292	87	*	*	PUNCT
ajfa-14920	292	88	*	*	PUNCT
ajfa-14920	292	89	-0.202	-0.202	PUNCT
ajfa-14920	292	90	*	*	PUNCT
ajfa-14920	292	91	*	*	PUNCT
ajfa-14920	292	92	*	*	PUNCT
ajfa-14920	292	93	0.243	0.243	NUM
ajfa-14920	292	94	*	*	PUNCT
ajfa-14920	292	95	*	*	PUNCT
ajfa-14920	292	96	*	*	PUNCT
ajfa-14920	292	97	0.236	0.236	NUM
ajfa-14920	292	98	*	*	PUNCT
ajfa-14920	292	99	*	*	PUNCT
ajfa-14920	292	100	*	*	PUNCT
ajfa-14920	292	101	(	(	PUNCT
ajfa-14920	292	102	26.85	26.85	NUM
ajfa-14920	292	103	)	)	PUNCT
ajfa-14920	292	104	(	(	PUNCT
ajfa-14920	292	105	-4.71	-4.71	X
ajfa-14920	292	106	)	)	PUNCT
ajfa-14920	292	107	(	(	PUNCT
ajfa-14920	292	108	15.27	15.27	NUM
ajfa-14920	292	109	)	)	PUNCT
ajfa-14920	292	110	(	(	PUNCT
ajfa-14920	292	111	13.62	13.62	NUM
ajfa-14920	292	112	)	)	PUNCT
ajfa-14920	292	113	l.roa	l.roa	NOUN
ajfa-14920	292	114	-0.853	-0.853	NOUN
ajfa-14920	292	115	*	*	PUNCT
ajfa-14920	292	116	*	*	PUNCT
ajfa-14920	292	117	*	*	PUNCT
ajfa-14920	292	118	0.796	0.796	NUM
ajfa-14920	292	119	*	*	PUNCT
ajfa-14920	292	120	*	*	PUNCT
ajfa-14920	292	121	*	*	ADJ
ajfa-14920	292	122	-0.0207	-0.0207	NOUN
ajfa-14920	292	123	-1.159	-1.159	NOUN
ajfa-14920	292	124	*	*	PUNCT
ajfa-14920	292	125	*	*	PUNCT
ajfa-14920	292	126	*	*	PUNCT
ajfa-14920	293	1	-1.024	-1.024	PUNCT
ajfa-14920	293	2	*	*	PUNCT
ajfa-14920	293	3	*	*	PUNCT
ajfa-14920	293	4	*	*	PUNCT
ajfa-14920	293	5	(	(	PUNCT
ajfa-14920	293	6	-10.24	-10.24	PROPN
ajfa-14920	293	7	)	)	PUNCT
ajfa-14920	293	8	(	(	PUNCT
ajfa-14920	293	9	17.62	17.62	NUM
ajfa-14920	293	10	)	)	PUNCT
ajfa-14920	293	11	(	(	PUNCT
ajfa-14920	293	12	-0.24	-0.24	NOUN
ajfa-14920	293	13	)	)	PUNCT
ajfa-14920	293	14	(	(	PUNCT
ajfa-14920	293	15	-22.28	-22.28	NOUN
ajfa-14920	293	16	)	)	PUNCT
ajfa-14920	293	17	(	(	PUNCT
ajfa-14920	293	18	-19.29	-19.29	NOUN
ajfa-14920	293	19	)	)	PUNCT
ajfa-14920	293	20	_	_	NOUN
ajfa-14920	293	21	cons	con	NOUN
ajfa-14920	293	22	0.00391	0.00391	NUM
ajfa-14920	293	23	-1.393	-1.393	NOUN
ajfa-14920	293	24	*	*	PUNCT
ajfa-14920	293	25	*	*	PUNCT
ajfa-14920	293	26	*	*	PUNCT
ajfa-14920	293	27	0.229	0.229	NUM
ajfa-14920	293	28	*	*	PUNCT
ajfa-14920	294	1	*	*	PUNCT
ajfa-14920	294	2	*	*	PUNCT
ajfa-14920	294	3	0.685	0.685	NUM
ajfa-14920	294	4	*	*	PUNCT
ajfa-14920	294	5	*	*	PUNCT
ajfa-14920	294	6	*	*	NOUN
ajfa-14920	294	7	-0.0522	-0.0522	ADJ
ajfa-14920	295	1	*	*	PUNCT
ajfa-14920	295	2	*	*	PUNCT
ajfa-14920	295	3	*	*	PUNCT
ajfa-14920	296	1	-1.347	-1.347	ADJ
ajfa-14920	296	2	*	*	PUNCT
ajfa-14920	296	3	*	*	PUNCT
ajfa-14920	296	4	*	*	X
ajfa-14920	296	5	-0.0854	-0.0854	PUNCT
ajfa-14920	296	6	*	*	PUNCT
ajfa-14920	297	1	*	*	PUNCT
ajfa-14920	297	2	*	*	PUNCT
ajfa-14920	297	3	-1.270	-1.270	PUNCT
ajfa-14920	297	4	*	*	PUNCT
ajfa-14920	297	5	*	*	PUNCT
ajfa-14920	297	6	*	*	PUNCT
ajfa-14920	297	7	(	(	PUNCT
ajfa-14920	297	8	0.12	0.12	NUM
ajfa-14920	297	9	)	)	PUNCT
ajfa-14920	297	10	(	(	PUNCT
ajfa-14920	297	11	-60.34	-60.34	PROPN
ajfa-14920	297	12	)	)	PUNCT
ajfa-14920	297	13	(	(	PUNCT
ajfa-14920	297	14	4.18	4.18	NUM
ajfa-14920	297	15	)	)	PUNCT
ajfa-14920	297	16	(	(	PUNCT
ajfa-14920	297	17	4.59	4.59	NUM
ajfa-14920	297	18	)	)	PUNCT
ajfa-14920	297	19	(	(	PUNCT
ajfa-14920	297	20	-2.93	-2.93	NOUN
ajfa-14920	297	21	)	)	PUNCT
ajfa-14920	297	22	(	(	PUNCT
ajfa-14920	297	23	-32.23	-32.23	PROPN
ajfa-14920	297	24	)	)	PUNCT
ajfa-14920	297	25	(	(	PUNCT
ajfa-14920	297	26	-4.23	-4.23	NUM
ajfa-14920	297	27	)	)	PUNCT
ajfa-14920	297	28	(	(	PUNCT
ajfa-14920	297	29	-25.21	-25.21	NOUN
ajfa-14920	297	30	)	)	PUNCT
ajfa-14920	297	31	industry	industry	NOUN
ajfa-14920	298	1	yes	yes	INTJ
ajfa-14920	299	1	yes	yes	INTJ
ajfa-14920	300	1	yes	yes	INTJ
ajfa-14920	301	1	yes	yes	INTJ
ajfa-14920	302	1	yes	yes	INTJ
ajfa-14920	303	1	yes	yes	INTJ
ajfa-14920	303	2	year	year	NOUN
ajfa-14920	304	1	yes	yes	INTJ
ajfa-14920	305	1	yes	yes	INTJ
ajfa-14920	306	1	yes	yes	INTJ
ajfa-14920	307	1	yes	yes	INTJ
ajfa-14920	308	1	yes	yes	INTJ
ajfa-14920	308	2	yes	yes	INTJ
ajfa-14920	308	3	sargon	sargon	PROPN
ajfa-14920	308	4	test	test	NOUN
ajfa-14920	309	1	yes	yes	INTJ
ajfa-14920	310	1	yes	yes	INTJ
ajfa-14920	310	2	n	n	ADV
ajfa-14920	310	3	2750	2750	NUM
ajfa-14920	310	4	2750	2750	NUM
ajfa-14920	310	5	2750	2750	NUM
ajfa-14920	310	6	2750	2750	NUM
ajfa-14920	310	7	2750	2750	NUM
ajfa-14920	310	8	2750	2750	NUM
ajfa-14920	310	9	2750	2750	NUM
ajfa-14920	310	10	2750	2750	NUM
ajfa-14920	310	11	r2	r2	NOUN
ajfa-14920	310	12	0.127	0.127	NUM
ajfa-14920	310	13	0.459	0.459	NUM
ajfa-14920	310	14	0.117	0.117	NUM
ajfa-14920	310	15	0.117	0.117	NUM
ajfa-14920	310	16	0.254	0.254	NUM
ajfa-14920	310	17	0.254	0.254	NUM
ajfa-14920	310	18	t	t	NOUN
ajfa-14920	310	19	statistics	statistic	NOUN
ajfa-14920	310	20	in	in	ADP
ajfa-14920	310	21	parentheses	parenthesis	NOUN
ajfa-14920	310	22	*	*	PUNCT
ajfa-14920	310	23	p	p	X
ajfa-14920	310	24	<	<	X
ajfa-14920	310	25	.1	.1	PROPN
ajfa-14920	310	26	,	,	PUNCT
ajfa-14920	310	27	*	*	PUNCT
ajfa-14920	311	1	*	*	PUNCT
ajfa-14920	311	2	p	p	X
ajfa-14920	311	3	<	<	X
ajfa-14920	311	4	.05	.05	NUM
ajfa-14920	311	5	,	,	PUNCT
ajfa-14920	311	6	*	*	PUNCT
ajfa-14920	311	7	*	*	PUNCT
ajfa-14920	311	8	*	*	PUNCT
ajfa-14920	311	9	p	p	X
ajfa-14920	311	10	<	<	X
ajfa-14920	311	11	.01	.01	NUM
ajfa-14920	311	12	in	in	ADP
ajfa-14920	311	13	three	three	NUM
ajfa-14920	311	14	-	-	PUNCT
ajfa-14920	311	15	stage	stage	NOUN
ajfa-14920	311	16	model	model	NOUN
ajfa-14920	311	17	,	,	PUNCT
ajfa-14920	311	18	the	the	DET
ajfa-14920	311	19	long	long	ADJ
ajfa-14920	311	20	-	-	PUNCT
ajfa-14920	311	21	term	term	NOUN
ajfa-14920	311	22	debt	debt	NOUN
ajfa-14920	311	23	ratio	ratio	NOUN
ajfa-14920	311	24	is	be	AUX
ajfa-14920	311	25	significantly	significantly	ADV
ajfa-14920	311	26	negatively	negatively	ADV
ajfa-14920	311	27	correlated	correlate	VERB
ajfa-14920	311	28	with	with	ADP
ajfa-14920	311	29	the	the	DET
ajfa-14920	311	30	return	return	NOUN
ajfa-14920	311	31	on	on	ADP
ajfa-14920	311	32	total	total	ADJ
ajfa-14920	311	33	assets	asset	NOUN
ajfa-14920	311	34	at	at	ADP
ajfa-14920	311	35	1	1	NUM
ajfa-14920	311	36	%	%	NOUN
ajfa-14920	311	37	significance	significance	NOUN
ajfa-14920	311	38	level	level	NOUN
ajfa-14920	311	39	.	.	PUNCT
ajfa-14920	312	1	the	the	DET
ajfa-14920	312	2	financial	financial	ADJ
ajfa-14920	312	3	mismatch	mismatch	NOUN
ajfa-14920	312	4	burden	burden	NOUN
ajfa-14920	312	5	level	level	NOUN
ajfa-14920	312	6	(	(	PUNCT
ajfa-14920	312	7	fm	fm	NOUN
ajfa-14920	312	8	)	)	PUNCT
ajfa-14920	312	9	of	of	ADP
ajfa-14920	312	10	enterprises	enterprise	NOUN
ajfa-14920	312	11	is	be	AUX
ajfa-14920	312	12	significantly	significantly	ADV
ajfa-14920	312	13	negatively	negatively	ADV
ajfa-14920	312	14	correlated	correlate	VERB
ajfa-14920	312	15	at	at	ADP
ajfa-14920	312	16	the	the	DET
ajfa-14920	312	17	significance	significance	NOUN
ajfa-14920	312	18	level	level	NOUN
ajfa-14920	312	19	of	of	ADP
ajfa-14920	312	20	1	1	NUM
ajfa-14920	312	21	%	%	NOUN
ajfa-14920	312	22	in	in	ADP
ajfa-14920	312	23	the	the	DET
ajfa-14920	312	24	full	full	ADJ
ajfa-14920	312	25	sample	sample	NOUN
ajfa-14920	312	26	and	and	CCONJ
ajfa-14920	312	27	the	the	DET
ajfa-14920	312	28	cross	cross	ADJ
ajfa-14920	312	29	term	term	NOUN
ajfa-14920	312	30	(	(	PUNCT
ajfa-14920	312	31	fm×lon	fm×lon	NOUN
ajfa-14920	312	32	)	)	PUNCT
ajfa-14920	312	33	is	be	AUX
ajfa-14920	312	34	significantly	significantly	ADV
ajfa-14920	312	35	positively	positively	ADV
ajfa-14920	312	36	related	relate	VERB
ajfa-14920	312	37	to	to	ADP
ajfa-14920	312	38	the	the	DET
ajfa-14920	312	39	return	return	NOUN
ajfa-14920	312	40	on	on	ADP
ajfa-14920	312	41	total	total	ADJ
ajfa-14920	312	42	assets	asset	NOUN
ajfa-14920	312	43	.	.	PUNCT
ajfa-14920	313	1	asset	asset	NOUN
ajfa-14920	313	2	specificity	specificity	NOUN
ajfa-14920	313	3	and	and	CCONJ
ajfa-14920	313	4	long	long	ADJ
ajfa-14920	313	5	-	-	PUNCT
ajfa-14920	313	6	term	term	NOUN
ajfa-14920	313	7	debt	debt	NOUN
ajfa-14920	313	8	ratio	ratio	NOUN
ajfa-14920	313	9	were	be	AUX
ajfa-14920	313	10	significantly	significantly	ADV
ajfa-14920	313	11	positively	positively	ADV
ajfa-14920	313	12	correlated	correlate	VERB
ajfa-14920	313	13	at	at	ADP
ajfa-14920	313	14	the	the	DET
ajfa-14920	313	15	significance	significance	NOUN
ajfa-14920	313	16	level	level	NOUN
ajfa-14920	313	17	of	of	ADP
ajfa-14920	313	18	1	1	NUM
ajfa-14920	313	19	%	%	NOUN
ajfa-14920	313	20	in	in	ADP
ajfa-14920	313	21	the	the	DET
ajfa-14920	313	22	full	full	ADJ
ajfa-14920	313	23	sample	sample	NOUN
ajfa-14920	313	24	.	.	PUNCT
ajfa-14920	314	1	the	the	DET
ajfa-14920	314	2	return	return	NOUN
ajfa-14920	314	3	on	on	ADP
ajfa-14920	314	4	total	total	ADJ
ajfa-14920	314	5	assets	asset	NOUN
ajfa-14920	314	6	and	and	CCONJ
ajfa-14920	314	7	the	the	DET
ajfa-14920	314	8	long	long	ADJ
ajfa-14920	314	9	-	-	PUNCT
ajfa-14920	314	10	term	term	NOUN
ajfa-14920	314	11	debt	debt	NOUN
ajfa-14920	314	12	ratio	ratio	NOUN
ajfa-14920	314	13	were	be	AUX
ajfa-14920	314	14	significantly	significantly	ADV
ajfa-14920	314	15	negatively	negatively	ADV
ajfa-14920	314	16	correlated	correlate	VERB
ajfa-14920	314	17	at	at	ADP
ajfa-14920	314	18	the	the	DET
ajfa-14920	314	19	significance	significance	NOUN
ajfa-14920	314	20	level	level	NOUN
ajfa-14920	314	21	of	of	ADP
ajfa-14920	314	22	1	1	NUM
ajfa-14920	314	23	%	%	NOUN
ajfa-14920	314	24	.	.	PUNCT
ajfa-14920	315	1	the	the	DET
ajfa-14920	315	2	above	above	ADJ
ajfa-14920	315	3	regression	regression	NOUN
ajfa-14920	315	4	results	result	NOUN
ajfa-14920	315	5	further	far	ADV
ajfa-14920	315	6	prove	prove	VERB
ajfa-14920	315	7	several	several	ADJ
ajfa-14920	315	8	hypotheses	hypothesis	NOUN
ajfa-14920	315	9	of	of	ADP
ajfa-14920	315	10	this	this	DET
ajfa-14920	315	11	paper	paper	NOUN
ajfa-14920	315	12	.	.	PUNCT
ajfa-14920	316	1	asian	asian	ADJ
ajfa-14920	316	2	journal	journal	PROPN
ajfa-14920	316	3	of	of	ADP
ajfa-14920	316	4	finance	finance	PROPN
ajfa-14920	316	5	&	&	CCONJ
ajfa-14920	316	6	accounting	accounting	PROPN
ajfa-14920	316	7	issn	issn	PROPN
ajfa-14920	316	8	1946	1946	NUM
ajfa-14920	316	9	-	-	PUNCT
ajfa-14920	316	10	052x	052x	PROPN
ajfa-14920	316	11	2019	2019	NUM
ajfa-14920	316	12	,	,	PUNCT
ajfa-14920	316	13	vol	vol	NOUN
ajfa-14920	316	14	.	.	PROPN
ajfa-14920	316	15	11	11	NUM
ajfa-14920	316	16	,	,	PUNCT
ajfa-14920	316	17	no	no	INTJ
ajfa-14920	316	18	.	.	NOUN
ajfa-14920	316	19	2	2	NUM
ajfa-14920	316	20	ajfa.macrothink.org/	ajfa.macrothink.org/	NOUN
ajfa-14920	316	21	253	253	NUM
ajfa-14920	316	22	conclusion	conclusion	NOUN
ajfa-14920	316	23	and	and	CCONJ
ajfa-14920	316	24	policy	policy	NOUN
ajfa-14920	316	25	implications	implication	NOUN
ajfa-14920	316	26	according	accord	VERB
ajfa-14920	316	27	to	to	ADP
ajfa-14920	316	28	the	the	DET
ajfa-14920	316	29	theoretical	theoretical	ADJ
ajfa-14920	316	30	analysis	analysis	NOUN
ajfa-14920	316	31	of	of	ADP
ajfa-14920	316	32	transaction	transaction	NOUN
ajfa-14920	316	33	cost	cost	NOUN
ajfa-14920	316	34	economics	economic	NOUN
ajfa-14920	316	35	,	,	PUNCT
ajfa-14920	316	36	the	the	DET
ajfa-14920	316	37	capital	capital	NOUN
ajfa-14920	316	38	structure	structure	NOUN
ajfa-14920	316	39	works	work	VERB
ajfa-14920	316	40	as	as	ADP
ajfa-14920	316	41	a	a	DET
ajfa-14920	316	42	governance	governance	NOUN
ajfa-14920	316	43	structure	structure	NOUN
ajfa-14920	316	44	to	to	PART
ajfa-14920	316	45	save	save	VERB
ajfa-14920	316	46	transaction	transaction	NOUN
ajfa-14920	316	47	costs	cost	NOUN
ajfa-14920	316	48	,	,	PUNCT
ajfa-14920	316	49	which	which	PRON
ajfa-14920	316	50	can	can	AUX
ajfa-14920	316	51	be	be	AUX
ajfa-14920	316	52	affected	affect	VERB
ajfa-14920	316	53	by	by	ADP
ajfa-14920	316	54	the	the	DET
ajfa-14920	316	55	asset	asset	NOUN
ajfa-14920	316	56	specificity	specificity	NOUN
ajfa-14920	316	57	,	,	PUNCT
ajfa-14920	316	58	the	the	PRON
ajfa-14920	316	59	higher	high	ADJ
ajfa-14920	316	60	the	the	DET
ajfa-14920	316	61	asset	asset	NOUN
ajfa-14920	316	62	specificity	specificity	NOUN
ajfa-14920	316	63	level	level	NOUN
ajfa-14920	316	64	of	of	ADP
ajfa-14920	316	65	the	the	DET
ajfa-14920	316	66	enterprise	enterprise	NOUN
ajfa-14920	316	67	,	,	PUNCT
ajfa-14920	316	68	the	the	PRON
ajfa-14920	316	69	lower	low	ADJ
ajfa-14920	316	70	the	the	DET
ajfa-14920	316	71	debt	debt	NOUN
ajfa-14920	316	72	level	level	NOUN
ajfa-14920	316	73	should	should	AUX
ajfa-14920	316	74	be	be	AUX
ajfa-14920	316	75	.	.	PUNCT
ajfa-14920	317	1	however	however	ADV
ajfa-14920	317	2	,	,	PUNCT
ajfa-14920	317	3	the	the	DET
ajfa-14920	317	4	financial	financial	ADJ
ajfa-14920	317	5	mismatch	mismatch	NOUN
ajfa-14920	317	6	issue	issue	NOUN
ajfa-14920	317	7	will	will	AUX
ajfa-14920	317	8	distort	distort	VERB
ajfa-14920	317	9	the	the	DET
ajfa-14920	317	10	governance	governance	NOUN
ajfa-14920	317	11	structure	structure	NOUN
ajfa-14920	317	12	nature	nature	NOUN
ajfa-14920	317	13	of	of	ADP
ajfa-14920	317	14	debt	debt	NOUN
ajfa-14920	317	15	financing	financing	NOUN
ajfa-14920	317	16	and	and	CCONJ
ajfa-14920	317	17	thus	thus	ADV
ajfa-14920	317	18	affect	affect	VERB
ajfa-14920	317	19	the	the	DET
ajfa-14920	317	20	applicability	applicability	NOUN
ajfa-14920	317	21	of	of	ADP
ajfa-14920	317	22	this	this	DET
ajfa-14920	317	23	conclusion	conclusion	NOUN
ajfa-14920	317	24	of	of	ADP
ajfa-14920	317	25	transaction	transaction	NOUN
ajfa-14920	317	26	cost	cost	VERB
ajfa-14920	317	27	economics	economic	NOUN
ajfa-14920	317	28	in	in	ADP
ajfa-14920	317	29	china	china	PROPN
ajfa-14920	317	30	.	.	PUNCT
ajfa-14920	318	1	based	base	VERB
ajfa-14920	318	2	on	on	ADP
ajfa-14920	318	3	the	the	DET
ajfa-14920	318	4	empirical	empirical	ADJ
ajfa-14920	318	5	data	datum	NOUN
ajfa-14920	318	6	of	of	ADP
ajfa-14920	318	7	a	a	DET
ajfa-14920	318	8	-	-	PUNCT
ajfa-14920	318	9	share	share	NOUN
ajfa-14920	318	10	listed	list	VERB
ajfa-14920	318	11	companies	company	NOUN
ajfa-14920	318	12	of	of	ADP
ajfa-14920	318	13	china	china	PROPN
ajfa-14920	318	14	from	from	ADP
ajfa-14920	318	15	2012	2012	NUM
ajfa-14920	318	16	to	to	ADP
ajfa-14920	318	17	2017	2017	NUM
ajfa-14920	318	18	,	,	PUNCT
ajfa-14920	318	19	this	this	DET
ajfa-14920	318	20	paper	paper	NOUN
ajfa-14920	318	21	finds	find	VERB
ajfa-14920	318	22	that	that	SCONJ
ajfa-14920	318	23	the	the	DET
ajfa-14920	318	24	phenomenon	phenomenon	NOUN
ajfa-14920	318	25	of	of	ADP
ajfa-14920	318	26	financial	financial	ADJ
ajfa-14920	318	27	mismatch	mismatch	NOUN
ajfa-14920	318	28	is	be	AUX
ajfa-14920	318	29	widespread	widespread	ADJ
ajfa-14920	318	30	in	in	ADP
ajfa-14920	318	31	chinese	chinese	ADJ
ajfa-14920	318	32	listed	list	VERB
ajfa-14920	318	33	companies	company	NOUN
ajfa-14920	318	34	and	and	CCONJ
ajfa-14920	318	35	is	be	AUX
ajfa-14920	318	36	not	not	PART
ajfa-14920	318	37	related	relate	VERB
ajfa-14920	318	38	to	to	ADP
ajfa-14920	318	39	the	the	DET
ajfa-14920	318	40	ownership	ownership	NOUN
ajfa-14920	318	41	of	of	ADP
ajfa-14920	318	42	companies	company	NOUN
ajfa-14920	318	43	.	.	PUNCT
ajfa-14920	319	1	the	the	DET
ajfa-14920	319	2	degree	degree	NOUN
ajfa-14920	319	3	of	of	ADP
ajfa-14920	319	4	financial	financial	ADJ
ajfa-14920	319	5	mismatches	mismatch	NOUN
ajfa-14920	319	6	of	of	ADP
ajfa-14920	319	7	listed	list	VERB
ajfa-14920	319	8	companies	company	NOUN
ajfa-14920	319	9	in	in	ADP
ajfa-14920	319	10	china	china	PROPN
ajfa-14920	319	11	is	be	AUX
ajfa-14920	319	12	based	base	VERB
ajfa-14920	319	13	on	on	ADP
ajfa-14920	319	14	the	the	DET
ajfa-14920	319	15	soft	soft	ADJ
ajfa-14920	319	16	budget	budget	NOUN
ajfa-14920	319	17	constraints	constraint	NOUN
ajfa-14920	319	18	and	and	CCONJ
ajfa-14920	319	19	the	the	DET
ajfa-14920	319	20	degree	degree	NOUN
ajfa-14920	319	21	of	of	ADP
ajfa-14920	319	22	marketization	marketization	NOUN
ajfa-14920	319	23	.	.	PUNCT
ajfa-14920	320	1	the	the	DET
ajfa-14920	320	2	corporate	corporate	ADJ
ajfa-14920	320	3	performance	performance	NOUN
ajfa-14920	320	4	is	be	AUX
ajfa-14920	320	5	significantly	significantly	ADV
ajfa-14920	320	6	negatively	negatively	ADV
ajfa-14920	320	7	correlated	correlate	VERB
ajfa-14920	320	8	with	with	ADP
ajfa-14920	320	9	the	the	DET
ajfa-14920	320	10	level	level	NOUN
ajfa-14920	320	11	of	of	ADP
ajfa-14920	320	12	financial	financial	ADJ
ajfa-14920	320	13	mismatch	mismatch	NOUN
ajfa-14920	320	14	,	,	PUNCT
ajfa-14920	320	15	which	which	PRON
ajfa-14920	320	16	indicates	indicate	VERB
ajfa-14920	320	17	financial	financial	ADJ
ajfa-14920	320	18	mismatches	mismatch	NOUN
ajfa-14920	320	19	severely	severely	ADV
ajfa-14920	320	20	restrict	restrict	VERB
ajfa-14920	320	21	the	the	DET
ajfa-14920	320	22	efficiency	efficiency	NOUN
ajfa-14920	320	23	of	of	ADP
ajfa-14920	320	24	listed	list	VERB
ajfa-14920	320	25	companies	company	NOUN
ajfa-14920	320	26	in	in	ADP
ajfa-14920	320	27	china	china	PROPN
ajfa-14920	320	28	.	.	PUNCT
ajfa-14920	321	1	the	the	DET
ajfa-14920	321	2	asset	asset	NOUN
ajfa-14920	321	3	specificity	specificity	NOUN
ajfa-14920	321	4	of	of	ADP
ajfa-14920	321	5	the	the	DET
ajfa-14920	321	6	listed	list	VERB
ajfa-14920	321	7	company	company	NOUN
ajfa-14920	321	8	is	be	AUX
ajfa-14920	321	9	positively	positively	ADV
ajfa-14920	321	10	correlated	correlate	VERB
ajfa-14920	321	11	with	with	ADP
ajfa-14920	321	12	the	the	DET
ajfa-14920	321	13	capital	capital	NOUN
ajfa-14920	321	14	structure	structure	NOUN
ajfa-14920	321	15	,	,	PUNCT
ajfa-14920	321	16	and	and	CCONJ
ajfa-14920	321	17	the	the	PRON
ajfa-14920	321	18	higher	high	ADJ
ajfa-14920	321	19	the	the	DET
ajfa-14920	321	20	asset	asset	NOUN
ajfa-14920	321	21	specificity	specificity	NOUN
ajfa-14920	321	22	level	level	NOUN
ajfa-14920	321	23	of	of	ADP
ajfa-14920	321	24	the	the	DET
ajfa-14920	321	25	enterprise	enterprise	NOUN
ajfa-14920	321	26	,	,	PUNCT
ajfa-14920	321	27	the	the	PRON
ajfa-14920	321	28	higher	high	ADJ
ajfa-14920	321	29	its	its	PRON
ajfa-14920	321	30	debt	debt	NOUN
ajfa-14920	321	31	level	level	NOUN
ajfa-14920	321	32	will	will	AUX
ajfa-14920	321	33	be	be	AUX
ajfa-14920	321	34	.	.	PUNCT
ajfa-14920	322	1	based	base	VERB
ajfa-14920	322	2	on	on	ADP
ajfa-14920	322	3	the	the	DET
ajfa-14920	322	4	results	result	NOUN
ajfa-14920	322	5	of	of	ADP
ajfa-14920	322	6	research	research	NOUN
ajfa-14920	322	7	in	in	ADP
ajfa-14920	322	8	this	this	DET
ajfa-14920	322	9	paper	paper	NOUN
ajfa-14920	322	10	,	,	PUNCT
ajfa-14920	322	11	we	we	PRON
ajfa-14920	322	12	find	find	VERB
ajfa-14920	322	13	that	that	SCONJ
ajfa-14920	322	14	there	there	PRON
ajfa-14920	322	15	is	be	VERB
ajfa-14920	322	16	a	a	DET
ajfa-14920	322	17	premise	premise	NOUN
ajfa-14920	322	18	of	of	ADP
ajfa-14920	322	19	asset	asset	NOUN
ajfa-14920	322	20	specificity	specificity	NOUN
ajfa-14920	322	21	affecting	affect	VERB
ajfa-14920	322	22	the	the	DET
ajfa-14920	322	23	capital	capital	NOUN
ajfa-14920	322	24	structure	structure	NOUN
ajfa-14920	322	25	,	,	PUNCT
ajfa-14920	322	26	which	which	PRON
ajfa-14920	322	27	is	be	AUX
ajfa-14920	322	28	,	,	PUNCT
ajfa-14920	322	29	the	the	DET
ajfa-14920	322	30	financial	financial	ADJ
ajfa-14920	322	31	resource	resource	NOUN
ajfa-14920	322	32	allocation	allocation	NOUN
ajfa-14920	322	33	market	market	NOUN
ajfa-14920	322	34	is	be	AUX
ajfa-14920	322	35	effective	effective	ADJ
ajfa-14920	322	36	.	.	PUNCT
ajfa-14920	323	1	this	this	DET
ajfa-14920	323	2	paper	paper	NOUN
ajfa-14920	323	3	argues	argue	VERB
ajfa-14920	323	4	that	that	SCONJ
ajfa-14920	323	5	financial	financial	ADJ
ajfa-14920	323	6	mismatches	mismatch	NOUN
ajfa-14920	323	7	,	,	PUNCT
ajfa-14920	323	8	as	as	SCONJ
ajfa-14920	323	9	the	the	DET
ajfa-14920	323	10	characteristics	characteristic	NOUN
ajfa-14920	323	11	in	in	ADP
ajfa-14920	323	12	the	the	DET
ajfa-14920	323	13	economic	economic	ADJ
ajfa-14920	323	14	transition	transition	NOUN
ajfa-14920	323	15	period	period	NOUN
ajfa-14920	323	16	,	,	PUNCT
ajfa-14920	323	17	inhibit	inhibit	VERB
ajfa-14920	323	18	the	the	DET
ajfa-14920	323	19	effect	effect	NOUN
ajfa-14920	323	20	of	of	ADP
ajfa-14920	323	21	asset	asset	NOUN
ajfa-14920	323	22	specificity	specificity	NOUN
ajfa-14920	323	23	,	,	PUNCT
ajfa-14920	323	24	void	void	VERB
ajfa-14920	323	25	the	the	DET
ajfa-14920	323	26	market	market	NOUN
ajfa-14920	323	27	governance	governance	NOUN
ajfa-14920	323	28	structure	structure	NOUN
ajfa-14920	323	29	of	of	ADP
ajfa-14920	323	30	debt	debt	NOUN
ajfa-14920	323	31	financing	financing	NOUN
ajfa-14920	323	32	,	,	PUNCT
ajfa-14920	323	33	and	and	CCONJ
ajfa-14920	323	34	reduce	reduce	VERB
ajfa-14920	323	35	the	the	DET
ajfa-14920	323	36	efficiency	efficiency	NOUN
ajfa-14920	323	37	of	of	ADP
ajfa-14920	323	38	the	the	DET
ajfa-14920	323	39	financial	financial	ADJ
ajfa-14920	323	40	system	system	NOUN
ajfa-14920	323	41	.	.	PUNCT
ajfa-14920	324	1	based	base	VERB
ajfa-14920	324	2	on	on	ADP
ajfa-14920	324	3	this	this	PRON
ajfa-14920	324	4	,	,	PUNCT
ajfa-14920	324	5	there	there	PRON
ajfa-14920	324	6	are	be	VERB
ajfa-14920	324	7	four	four	NUM
ajfa-14920	324	8	relevant	relevant	ADJ
ajfa-14920	324	9	policy	policy	NOUN
ajfa-14920	324	10	recommendations	recommendation	NOUN
ajfa-14920	324	11	can	can	AUX
ajfa-14920	324	12	be	be	AUX
ajfa-14920	324	13	proposed	propose	VERB
ajfa-14920	324	14	,	,	PUNCT
ajfa-14920	324	15	first	first	ADV
ajfa-14920	324	16	,	,	PUNCT
ajfa-14920	324	17	enhance	enhance	VERB
ajfa-14920	324	18	the	the	DET
ajfa-14920	324	19	support	support	NOUN
ajfa-14920	324	20	of	of	ADP
ajfa-14920	324	21	credit	credit	NOUN
ajfa-14920	324	22	policies	policy	NOUN
ajfa-14920	324	23	and	and	CCONJ
ajfa-14920	324	24	promote	promote	VERB
ajfa-14920	324	25	the	the	DET
ajfa-14920	324	26	rational	rational	ADJ
ajfa-14920	324	27	allocation	allocation	NOUN
ajfa-14920	324	28	of	of	ADP
ajfa-14920	324	29	financial	financial	ADJ
ajfa-14920	324	30	resources	resource	NOUN
ajfa-14920	324	31	,	,	PUNCT
ajfa-14920	324	32	based	base	VERB
ajfa-14920	324	33	on	on	ADP
ajfa-14920	324	34	state	state	PROPN
ajfa-14920	324	35	macro	macro	NOUN
ajfa-14920	324	36	-	-	NOUN
ajfa-14920	324	37	control	control	ADJ
ajfa-14920	324	38	and	and	CCONJ
ajfa-14920	324	39	industrial	industrial	ADJ
ajfa-14920	324	40	development	development	NOUN
ajfa-14920	324	41	policies	policy	NOUN
ajfa-14920	324	42	,	,	PUNCT
ajfa-14920	324	43	the	the	DET
ajfa-14920	324	44	utilization	utilization	NOUN
ajfa-14920	324	45	rate	rate	NOUN
ajfa-14920	324	46	of	of	ADP
ajfa-14920	324	47	idle	idle	ADJ
ajfa-14920	324	48	money	money	NOUN
ajfa-14920	324	49	and	and	CCONJ
ajfa-14920	324	50	new	new	ADJ
ajfa-14920	324	51	money	money	NOUN
ajfa-14920	324	52	will	will	AUX
ajfa-14920	324	53	be	be	AUX
ajfa-14920	324	54	improved	improve	VERB
ajfa-14920	324	55	.	.	PUNCT
ajfa-14920	325	1	based	base	VERB
ajfa-14920	325	2	on	on	ADP
ajfa-14920	325	3	the	the	DET
ajfa-14920	325	4	actual	actual	ADJ
ajfa-14920	325	5	situation	situation	NOUN
ajfa-14920	325	6	of	of	ADP
ajfa-14920	325	7	regional	regional	ADJ
ajfa-14920	325	8	economic	economic	ADJ
ajfa-14920	325	9	development	development	NOUN
ajfa-14920	325	10	,	,	PUNCT
ajfa-14920	325	11	we	we	PRON
ajfa-14920	325	12	should	should	AUX
ajfa-14920	325	13	adopt	adopt	VERB
ajfa-14920	325	14	reasonable	reasonable	ADJ
ajfa-14920	325	15	and	and	CCONJ
ajfa-14920	325	16	scientific	scientific	ADJ
ajfa-14920	325	17	financial	financial	ADJ
ajfa-14920	325	18	measures	measure	NOUN
ajfa-14920	325	19	to	to	PART
ajfa-14920	325	20	promote	promote	VERB
ajfa-14920	325	21	the	the	DET
ajfa-14920	325	22	optimization	optimization	NOUN
ajfa-14920	325	23	of	of	ADP
ajfa-14920	325	24	the	the	DET
ajfa-14920	325	25	economic	economic	ADJ
ajfa-14920	325	26	structure	structure	NOUN
ajfa-14920	325	27	,	,	PUNCT
ajfa-14920	325	28	and	and	CCONJ
ajfa-14920	325	29	improve	improve	VERB
ajfa-14920	325	30	credit	credit	NOUN
ajfa-14920	325	31	according	accord	VERB
ajfa-14920	325	32	to	to	ADP
ajfa-14920	325	33	the	the	DET
ajfa-14920	325	34	principle	principle	NOUN
ajfa-14920	325	35	of	of	ADP
ajfa-14920	325	36	rational	rational	ADJ
ajfa-14920	325	37	distribution	distribution	NOUN
ajfa-14920	325	38	;	;	PUNCT
ajfa-14920	325	39	effective	effective	ADJ
ajfa-14920	325	40	measures	measure	NOUN
ajfa-14920	325	41	can	can	AUX
ajfa-14920	325	42	be	be	AUX
ajfa-14920	325	43	taken	take	VERB
ajfa-14920	325	44	to	to	PART
ajfa-14920	325	45	promote	promote	VERB
ajfa-14920	325	46	the	the	DET
ajfa-14920	325	47	full	full	ADJ
ajfa-14920	325	48	implementation	implementation	NOUN
ajfa-14920	325	49	of	of	ADP
ajfa-14920	325	50	the	the	DET
ajfa-14920	325	51	credit	credit	NOUN
ajfa-14920	325	52	policy	policy	NOUN
ajfa-14920	325	53	.	.	PUNCT
ajfa-14920	326	1	we	we	PRON
ajfa-14920	326	2	can	can	AUX
ajfa-14920	326	3	evaluate	evaluate	VERB
ajfa-14920	326	4	the	the	DET
ajfa-14920	326	5	effectiveness	effectiveness	NOUN
ajfa-14920	326	6	of	of	ADP
ajfa-14920	326	7	the	the	DET
ajfa-14920	326	8	special	special	ADJ
ajfa-14920	326	9	credit	credit	NOUN
ajfa-14920	326	10	policy	policy	NOUN
ajfa-14920	326	11	to	to	PART
ajfa-14920	326	12	motivate	motivate	VERB
ajfa-14920	326	13	the	the	DET
ajfa-14920	326	14	financial	financial	ADJ
ajfa-14920	326	15	sector	sector	NOUN
ajfa-14920	326	16	to	to	PART
ajfa-14920	326	17	support	support	VERB
ajfa-14920	326	18	the	the	DET
ajfa-14920	326	19	company	company	NOUN
ajfa-14920	326	20	.	.	PUNCT
ajfa-14920	327	1	we	we	PRON
ajfa-14920	327	2	can	can	AUX
ajfa-14920	327	3	try	try	VERB
ajfa-14920	327	4	to	to	PART
ajfa-14920	327	5	use	use	VERB
ajfa-14920	327	6	the	the	DET
ajfa-14920	327	7	relationship	relationship	NOUN
ajfa-14920	327	8	between	between	ADP
ajfa-14920	327	9	government	government	NOUN
ajfa-14920	327	10	,	,	PUNCT
ajfa-14920	327	11	banks	bank	NOUN
ajfa-14920	327	12	and	and	CCONJ
ajfa-14920	327	13	enterprises	enterprise	NOUN
ajfa-14920	327	14	to	to	PART
ajfa-14920	327	15	drive	drive	VERB
ajfa-14920	327	16	the	the	DET
ajfa-14920	327	17	policy	policy	NOUN
ajfa-14920	327	18	mechanism	mechanism	NOUN
ajfa-14920	327	19	.	.	PUNCT
ajfa-14920	328	1	in	in	ADP
ajfa-14920	328	2	addition	addition	NOUN
ajfa-14920	328	3	,	,	PUNCT
ajfa-14920	328	4	financial	financial	ADJ
ajfa-14920	328	5	institutions	institution	NOUN
ajfa-14920	328	6	are	be	AUX
ajfa-14920	328	7	encouraged	encourage	VERB
ajfa-14920	328	8	to	to	PART
ajfa-14920	328	9	actively	actively	ADV
ajfa-14920	328	10	infiltrate	infiltrate	VERB
ajfa-14920	328	11	emerging	emerge	VERB
ajfa-14920	328	12	industries	industry	NOUN
ajfa-14920	328	13	and	and	CCONJ
ajfa-14920	328	14	provide	provide	VERB
ajfa-14920	328	15	adequate	adequate	ADJ
ajfa-14920	328	16	financial	financial	ADJ
ajfa-14920	328	17	support	support	NOUN
ajfa-14920	328	18	for	for	ADP
ajfa-14920	328	19	their	their	PRON
ajfa-14920	328	20	further	further	ADJ
ajfa-14920	328	21	development	development	NOUN
ajfa-14920	328	22	.	.	PUNCT
ajfa-14920	329	1	we	we	PRON
ajfa-14920	329	2	will	will	AUX
ajfa-14920	329	3	improve	improve	VERB
ajfa-14920	329	4	the	the	DET
ajfa-14920	329	5	construction	construction	NOUN
ajfa-14920	329	6	of	of	ADP
ajfa-14920	329	7	credit	credit	NOUN
ajfa-14920	329	8	information	information	NOUN
ajfa-14920	329	9	platform	platform	NOUN
ajfa-14920	329	10	,	,	PUNCT
ajfa-14920	329	11	provide	provide	VERB
ajfa-14920	329	12	comprehensive	comprehensive	ADJ
ajfa-14920	329	13	credit	credit	NOUN
ajfa-14920	329	14	services	service	NOUN
ajfa-14920	329	15	for	for	ADP
ajfa-14920	329	16	enterprises	enterprise	NOUN
ajfa-14920	329	17	,	,	PUNCT
ajfa-14920	329	18	and	and	CCONJ
ajfa-14920	329	19	facilitate	facilitate	VERB
ajfa-14920	329	20	investment	investment	NOUN
ajfa-14920	329	21	and	and	CCONJ
ajfa-14920	329	22	financing	financing	NOUN
ajfa-14920	329	23	of	of	ADP
ajfa-14920	329	24	enterprises	enterprise	NOUN
ajfa-14920	329	25	.	.	PUNCT
ajfa-14920	330	1	at	at	ADP
ajfa-14920	330	2	the	the	DET
ajfa-14920	330	3	same	same	ADJ
ajfa-14920	330	4	time	time	NOUN
ajfa-14920	330	5	,	,	PUNCT
ajfa-14920	330	6	we	we	PRON
ajfa-14920	330	7	can	can	AUX
ajfa-14920	330	8	try	try	VERB
ajfa-14920	330	9	to	to	PART
ajfa-14920	330	10	open	open	VERB
ajfa-14920	330	11	an	an	DET
ajfa-14920	330	12	intangible	intangible	ADJ
ajfa-14920	330	13	asset	asset	NOUN
ajfa-14920	330	14	mortgage	mortgage	NOUN
ajfa-14920	330	15	channel	channel	NOUN
ajfa-14920	330	16	for	for	ADP
ajfa-14920	330	17	enterprises	enterprise	NOUN
ajfa-14920	330	18	such	such	ADJ
ajfa-14920	330	19	as	as	ADP
ajfa-14920	330	20	intellectual	intellectual	ADJ
ajfa-14920	330	21	property	property	NOUN
ajfa-14920	330	22	mortgages	mortgage	NOUN
ajfa-14920	330	23	and	and	CCONJ
ajfa-14920	330	24	guarantee	guarantee	VERB
ajfa-14920	330	25	company	company	NOUN
ajfa-14920	330	26	guarantees	guarantee	NOUN
ajfa-14920	330	27	.	.	PUNCT
ajfa-14920	331	1	second	second	ADV
ajfa-14920	331	2	,	,	PUNCT
ajfa-14920	331	3	actively	actively	ADV
ajfa-14920	331	4	promote	promote	VERB
ajfa-14920	331	5	the	the	DET
ajfa-14920	331	6	liberalization	liberalization	NOUN
ajfa-14920	331	7	of	of	ADP
ajfa-14920	331	8	interest	interest	NOUN
ajfa-14920	331	9	rates	rate	NOUN
ajfa-14920	331	10	,	,	PUNCT
ajfa-14920	331	11	comprehensively	comprehensively	ADV
ajfa-14920	331	12	promote	promote	VERB
ajfa-14920	331	13	the	the	DET
ajfa-14920	331	14	improvement	improvement	NOUN
ajfa-14920	331	15	of	of	ADP
ajfa-14920	331	16	capital	capital	NOUN
ajfa-14920	331	17	utilization	utilization	NOUN
ajfa-14920	331	18	rate	rate	NOUN
ajfa-14920	331	19	.	.	PUNCT
ajfa-14920	332	1	the	the	DET
ajfa-14920	332	2	capital	capital	NOUN
ajfa-14920	332	3	price	price	NOUN
ajfa-14920	332	4	is	be	AUX
ajfa-14920	332	5	expressed	express	VERB
ajfa-14920	332	6	through	through	ADP
ajfa-14920	332	7	interest	interest	NOUN
ajfa-14920	332	8	rates	rate	NOUN
ajfa-14920	332	9	,	,	PUNCT
ajfa-14920	332	10	and	and	CCONJ
ajfa-14920	332	11	the	the	DET
ajfa-14920	332	12	liberalization	liberalization	NOUN
ajfa-14920	332	13	of	of	ADP
ajfa-14920	332	14	interest	interest	NOUN
ajfa-14920	332	15	rates	rate	NOUN
ajfa-14920	332	16	can	can	AUX
ajfa-14920	332	17	promote	promote	VERB
ajfa-14920	332	18	the	the	DET
ajfa-14920	332	19	optimal	optimal	ADJ
ajfa-14920	332	20	distribution	distribution	NOUN
ajfa-14920	332	21	of	of	ADP
ajfa-14920	332	22	financial	financial	ADJ
ajfa-14920	332	23	resources	resource	NOUN
ajfa-14920	332	24	.	.	PUNCT
ajfa-14920	333	1	in	in	ADP
ajfa-14920	333	2	addition	addition	NOUN
ajfa-14920	333	3	,	,	PUNCT
ajfa-14920	333	4	we	we	PRON
ajfa-14920	333	5	can	can	AUX
ajfa-14920	333	6	further	far	ADV
ajfa-14920	333	7	improve	improve	VERB
ajfa-14920	333	8	the	the	DET
ajfa-14920	333	9	functional	functional	ADJ
ajfa-14920	333	10	setup	setup	NOUN
ajfa-14920	333	11	of	of	ADP
ajfa-14920	333	12	financial	financial	ADJ
ajfa-14920	333	13	institutions	institution	NOUN
ajfa-14920	333	14	,	,	PUNCT
ajfa-14920	333	15	provide	provide	VERB
ajfa-14920	333	16	channels	channel	NOUN
ajfa-14920	333	17	for	for	ADP
ajfa-14920	333	18	private	private	ADJ
ajfa-14920	333	19	capital	capital	NOUN
ajfa-14920	333	20	entry	entry	NOUN
ajfa-14920	333	21	,	,	PUNCT
ajfa-14920	333	22	increase	increase	VERB
ajfa-14920	333	23	the	the	DET
ajfa-14920	333	24	amount	amount	NOUN
ajfa-14920	333	25	of	of	ADP
ajfa-14920	333	26	funds	fund	NOUN
ajfa-14920	333	27	for	for	ADP
ajfa-14920	333	28	small	small	ADJ
ajfa-14920	333	29	and	and	CCONJ
ajfa-14920	333	30	mediumsized	mediumsized	ADJ
ajfa-14920	333	31	financial	financial	ADJ
ajfa-14920	333	32	institutions	institution	NOUN
ajfa-14920	333	33	,	,	PUNCT
ajfa-14920	333	34	and	and	CCONJ
ajfa-14920	333	35	provide	provide	VERB
ajfa-14920	333	36	financial	financial	ADJ
ajfa-14920	333	37	support	support	NOUN
ajfa-14920	333	38	for	for	ADP
ajfa-14920	333	39	their	their	PRON
ajfa-14920	333	40	scale	scale	NOUN
ajfa-14920	333	41	development	development	NOUN
ajfa-14920	333	42	.	.	PUNCT
ajfa-14920	334	1	we	we	PRON
ajfa-14920	334	2	can	can	AUX
ajfa-14920	334	3	also	also	ADV
ajfa-14920	334	4	establish	establish	VERB
ajfa-14920	334	5	and	and	CCONJ
ajfa-14920	334	6	improve	improve	VERB
ajfa-14920	334	7	the	the	DET
ajfa-14920	334	8	credit	credit	NOUN
ajfa-14920	334	9	rating	rating	NOUN
ajfa-14920	334	10	system	system	NOUN
ajfa-14920	334	11	for	for	ADP
ajfa-14920	334	12	non	non	ADJ
ajfa-14920	334	13	-	-	ADJ
ajfa-14920	334	14	state	state	NOUN
ajfa-14920	334	15	-	-	PUNCT
ajfa-14920	334	16	owned	own	VERB
ajfa-14920	334	17	enterprises	enterprise	NOUN
ajfa-14920	334	18	,	,	PUNCT
ajfa-14920	334	19	simplify	simplify	ADJ
ajfa-14920	334	20	asian	asian	ADJ
ajfa-14920	334	21	journal	journal	NOUN
ajfa-14920	334	22	of	of	ADP
ajfa-14920	334	23	finance	finance	PROPN
ajfa-14920	334	24	&	&	CCONJ
ajfa-14920	334	25	accounting	accounting	PROPN
ajfa-14920	334	26	issn	issn	PROPN
ajfa-14920	334	27	1946	1946	NUM
ajfa-14920	334	28	-	-	PUNCT
ajfa-14920	334	29	052x	052x	PROPN
ajfa-14920	334	30	2019	2019	NUM
ajfa-14920	334	31	,	,	PUNCT
ajfa-14920	334	32	vol	vol	NOUN
ajfa-14920	334	33	.	.	PROPN
ajfa-14920	335	1	11	11	NUM
ajfa-14920	335	2	,	,	PUNCT
ajfa-14920	335	3	no	no	INTJ
ajfa-14920	335	4	.	.	NOUN
ajfa-14920	335	5	2	2	NUM
ajfa-14920	335	6	ajfa.macrothink.org/	ajfa.macrothink.org/	NOUN
ajfa-14920	335	7	254	254	NUM
ajfa-14920	335	8	the	the	DET
ajfa-14920	335	9	loan	loan	NOUN
ajfa-14920	335	10	process	process	NOUN
ajfa-14920	335	11	,	,	PUNCT
ajfa-14920	335	12	improve	improve	VERB
ajfa-14920	335	13	the	the	DET
ajfa-14920	335	14	mortgage	mortgage	NOUN
ajfa-14920	335	15	and	and	CCONJ
ajfa-14920	335	16	secured	secured	ADJ
ajfa-14920	335	17	loan	loan	NOUN
ajfa-14920	335	18	business	business	NOUN
ajfa-14920	335	19	,	,	PUNCT
ajfa-14920	335	20	provide	provide	VERB
ajfa-14920	335	21	“	"	PUNCT
ajfa-14920	335	22	one	one	NUM
ajfa-14920	335	23	-	-	PUNCT
ajfa-14920	335	24	stop	stop	VERB
ajfa-14920	335	25	”	"	PUNCT
ajfa-14920	335	26	service	service	NOUN
ajfa-14920	335	27	for	for	ADP
ajfa-14920	335	28	mortgages	mortgage	NOUN
ajfa-14920	335	29	and	and	CCONJ
ajfa-14920	335	30	secured	secured	ADJ
ajfa-14920	335	31	loans	loan	NOUN
ajfa-14920	335	32	that	that	PRON
ajfa-14920	335	33	meet	meet	VERB
ajfa-14920	335	34	the	the	DET
ajfa-14920	335	35	conditions	condition	NOUN
ajfa-14920	335	36	,	,	PUNCT
ajfa-14920	335	37	and	and	CCONJ
ajfa-14920	335	38	appropriately	appropriately	ADV
ajfa-14920	335	39	reduce	reduce	VERB
ajfa-14920	335	40	costs	cost	NOUN
ajfa-14920	335	41	to	to	PART
ajfa-14920	335	42	ensure	ensure	VERB
ajfa-14920	335	43	loan	loan	NOUN
ajfa-14920	335	44	efficiency	efficiency	NOUN
ajfa-14920	335	45	.	.	PUNCT
ajfa-14920	336	1	at	at	ADP
ajfa-14920	336	2	the	the	DET
ajfa-14920	336	3	same	same	ADJ
ajfa-14920	336	4	time	time	NOUN
ajfa-14920	336	5	,	,	PUNCT
ajfa-14920	336	6	we	we	PRON
ajfa-14920	336	7	are	be	AUX
ajfa-14920	336	8	committed	commit	VERB
ajfa-14920	336	9	to	to	ADP
ajfa-14920	336	10	improving	improve	VERB
ajfa-14920	336	11	the	the	DET
ajfa-14920	336	12	application	application	NOUN
ajfa-14920	336	13	of	of	ADP
ajfa-14920	336	14	financial	financial	ADJ
ajfa-14920	336	15	resources	resource	NOUN
ajfa-14920	336	16	,	,	PUNCT
ajfa-14920	336	17	accelerating	accelerate	VERB
ajfa-14920	336	18	financial	financial	ADJ
ajfa-14920	336	19	product	product	NOUN
ajfa-14920	336	20	innovation	innovation	NOUN
ajfa-14920	336	21	,	,	PUNCT
ajfa-14920	336	22	and	and	CCONJ
ajfa-14920	336	23	enriching	enrich	VERB
ajfa-14920	336	24	the	the	DET
ajfa-14920	336	25	types	type	NOUN
ajfa-14920	336	26	of	of	ADP
ajfa-14920	336	27	banking	banking	NOUN
ajfa-14920	336	28	services	service	NOUN
ajfa-14920	336	29	to	to	PART
ajfa-14920	336	30	meet	meet	VERB
ajfa-14920	336	31	the	the	DET
ajfa-14920	336	32	various	various	ADJ
ajfa-14920	336	33	needs	need	NOUN
ajfa-14920	336	34	of	of	ADP
ajfa-14920	336	35	customers	customer	NOUN
ajfa-14920	336	36	.	.	PUNCT
ajfa-14920	337	1	third	third	ADV
ajfa-14920	337	2	,	,	PUNCT
ajfa-14920	337	3	accelerate	accelerate	VERB
ajfa-14920	337	4	the	the	DET
ajfa-14920	337	5	development	development	NOUN
ajfa-14920	337	6	of	of	ADP
ajfa-14920	337	7	various	various	ADJ
ajfa-14920	337	8	financing	financing	NOUN
ajfa-14920	337	9	channels	channel	NOUN
ajfa-14920	337	10	and	and	CCONJ
ajfa-14920	337	11	gradually	gradually	ADV
ajfa-14920	337	12	improve	improve	VERB
ajfa-14920	337	13	the	the	DET
ajfa-14920	337	14	financial	financial	ADJ
ajfa-14920	337	15	structure	structure	NOUN
ajfa-14920	337	16	of	of	ADP
ajfa-14920	337	17	indirect	indirect	ADJ
ajfa-14920	337	18	financing	financing	NOUN
ajfa-14920	337	19	,	,	PUNCT
ajfa-14920	337	20	the	the	DET
ajfa-14920	337	21	government	government	NOUN
ajfa-14920	337	22	should	should	AUX
ajfa-14920	337	23	provide	provide	VERB
ajfa-14920	337	24	support	support	NOUN
ajfa-14920	337	25	in	in	ADP
ajfa-14920	337	26	the	the	DET
ajfa-14920	337	27	process	process	NOUN
ajfa-14920	337	28	of	of	ADP
ajfa-14920	337	29	listing	list	VERB
ajfa-14920	337	30	enterprises	enterprise	NOUN
ajfa-14920	337	31	;	;	PUNCT
ajfa-14920	337	32	supporting	support	VERB
ajfa-14920	337	33	the	the	DET
ajfa-14920	337	34	development	development	NOUN
ajfa-14920	337	35	of	of	ADP
ajfa-14920	337	36	small	small	ADJ
ajfa-14920	337	37	and	and	CCONJ
ajfa-14920	337	38	medium	medium	ADJ
ajfa-14920	337	39	-	-	PUNCT
ajfa-14920	337	40	sized	sized	ADJ
ajfa-14920	337	41	financial	financial	ADJ
ajfa-14920	337	42	institutions	institution	NOUN
ajfa-14920	337	43	.	.	PUNCT
ajfa-14920	338	1	we	we	PRON
ajfa-14920	338	2	should	should	AUX
ajfa-14920	338	3	also	also	ADV
ajfa-14920	338	4	encourage	encourage	VERB
ajfa-14920	338	5	private	private	ADJ
ajfa-14920	338	6	capital	capital	NOUN
ajfa-14920	338	7	to	to	PART
ajfa-14920	338	8	set	set	VERB
ajfa-14920	338	9	up	up	ADP
ajfa-14920	338	10	various	various	ADJ
ajfa-14920	338	11	forms	form	NOUN
ajfa-14920	338	12	of	of	ADP
ajfa-14920	338	13	financial	financial	ADJ
ajfa-14920	338	14	institutions	institution	NOUN
ajfa-14920	338	15	such	such	ADJ
ajfa-14920	338	16	as	as	ADP
ajfa-14920	338	17	microcredit	microcredit	NOUN
ajfa-14920	338	18	,	,	PUNCT
ajfa-14920	338	19	rural	rural	ADJ
ajfa-14920	338	20	banks	bank	NOUN
ajfa-14920	338	21	,	,	PUNCT
ajfa-14920	338	22	etc	etc	X
ajfa-14920	338	23	;	;	PUNCT
ajfa-14920	338	24	we	we	PRON
ajfa-14920	338	25	should	should	AUX
ajfa-14920	338	26	innovate	innovate	VERB
ajfa-14920	338	27	in	in	ADP
ajfa-14920	338	28	the	the	DET
ajfa-14920	338	29	form	form	NOUN
ajfa-14920	338	30	of	of	ADP
ajfa-14920	338	31	bond	bond	NOUN
ajfa-14920	338	32	issuance	issuance	NOUN
ajfa-14920	338	33	,	,	PUNCT
ajfa-14920	338	34	commit	commit	VERB
ajfa-14920	338	35	to	to	PART
ajfa-14920	338	36	develop	develop	VERB
ajfa-14920	338	37	and	and	CCONJ
ajfa-14920	338	38	build	build	VERB
ajfa-14920	338	39	local	local	ADJ
ajfa-14920	338	40	bond	bond	NOUN
ajfa-14920	338	41	markets	market	NOUN
ajfa-14920	338	42	,	,	PUNCT
ajfa-14920	338	43	and	and	CCONJ
ajfa-14920	338	44	guide	guide	VERB
ajfa-14920	338	45	and	and	CCONJ
ajfa-14920	338	46	encourage	encourage	VERB
ajfa-14920	338	47	powerful	powerful	ADJ
ajfa-14920	338	48	enterprises	enterprise	NOUN
ajfa-14920	338	49	to	to	PART
ajfa-14920	338	50	issue	issue	VERB
ajfa-14920	338	51	bonds	bond	NOUN
ajfa-14920	338	52	independently	independently	ADV
ajfa-14920	338	53	.	.	PUNCT
ajfa-14920	339	1	financial	financial	ADJ
ajfa-14920	339	2	institutions	institution	NOUN
ajfa-14920	339	3	should	should	AUX
ajfa-14920	339	4	use	use	VERB
ajfa-14920	339	5	reasonable	reasonable	ADJ
ajfa-14920	339	6	channels	channel	NOUN
ajfa-14920	339	7	and	and	CCONJ
ajfa-14920	339	8	models	model	NOUN
ajfa-14920	339	9	to	to	PART
ajfa-14920	339	10	guide	guide	VERB
ajfa-14920	339	11	the	the	DET
ajfa-14920	339	12	integration	integration	NOUN
ajfa-14920	339	13	of	of	ADP
ajfa-14920	339	14	private	private	ADJ
ajfa-14920	339	15	stock	stock	NOUN
ajfa-14920	339	16	currency	currency	NOUN
ajfa-14920	339	17	funds	fund	NOUN
ajfa-14920	339	18	into	into	ADP
ajfa-14920	339	19	the	the	DET
ajfa-14920	339	20	bond	bond	NOUN
ajfa-14920	339	21	issuance	issuance	NOUN
ajfa-14920	339	22	business	business	NOUN
ajfa-14920	339	23	and	and	CCONJ
ajfa-14920	339	24	improve	improve	VERB
ajfa-14920	339	25	the	the	DET
ajfa-14920	339	26	utilization	utilization	NOUN
ajfa-14920	339	27	rate	rate	NOUN
ajfa-14920	339	28	of	of	ADP
ajfa-14920	339	29	private	private	ADJ
ajfa-14920	339	30	funds	fund	NOUN
ajfa-14920	339	31	.	.	PUNCT
ajfa-14920	340	1	fourth	fourth	ADV
ajfa-14920	340	2	,	,	PUNCT
ajfa-14920	340	3	improve	improve	VERB
ajfa-14920	340	4	the	the	DET
ajfa-14920	340	5	understanding	understanding	NOUN
ajfa-14920	340	6	of	of	ADP
ajfa-14920	340	7	asset	asset	NOUN
ajfa-14920	340	8	specificity	specificity	NOUN
ajfa-14920	340	9	.	.	PUNCT
ajfa-14920	341	1	listed	list	VERB
ajfa-14920	341	2	companies	company	NOUN
ajfa-14920	341	3	should	should	AUX
ajfa-14920	341	4	be	be	AUX
ajfa-14920	341	5	encouraged	encourage	VERB
ajfa-14920	341	6	to	to	PART
ajfa-14920	341	7	disclose	disclose	VERB
ajfa-14920	341	8	asset	asset	NOUN
ajfa-14920	341	9	-	-	PUNCT
ajfa-14920	341	10	specific	specific	ADJ
ajfa-14920	341	11	information	information	NOUN
ajfa-14920	341	12	to	to	ADP
ajfa-14920	341	13	the	the	DET
ajfa-14920	341	14	market	market	NOUN
ajfa-14920	341	15	,	,	PUNCT
ajfa-14920	341	16	especially	especially	ADV
ajfa-14920	341	17	those	those	DET
ajfa-14920	341	18	companies	company	NOUN
ajfa-14920	341	19	that	that	PRON
ajfa-14920	341	20	rely	rely	VERB
ajfa-14920	341	21	heavily	heavily	ADV
ajfa-14920	341	22	on	on	ADP
ajfa-14920	341	23	asset	asset	NOUN
ajfa-14920	341	24	specificity	specificity	NOUN
ajfa-14920	341	25	.	.	PUNCT
ajfa-14920	342	1	companies	company	NOUN
ajfa-14920	342	2	will	will	AUX
ajfa-14920	342	3	raise	raise	VERB
ajfa-14920	342	4	loan	loan	NOUN
ajfa-14920	342	5	easier	easy	ADJ
ajfa-14920	342	6	if	if	SCONJ
ajfa-14920	342	7	they	they	PRON
ajfa-14920	342	8	provide	provide	VERB
ajfa-14920	342	9	more	more	ADV
ajfa-14920	342	10	relevant	relevant	ADJ
ajfa-14920	342	11	information	information	NOUN
ajfa-14920	342	12	for	for	SCONJ
ajfa-14920	342	13	stakeholders	stakeholder	NOUN
ajfa-14920	342	14	to	to	PART
ajfa-14920	342	15	understand	understand	VERB
ajfa-14920	342	16	the	the	DET
ajfa-14920	342	17	company	company	NOUN
ajfa-14920	342	18	’s	’s	PART
ajfa-14920	342	19	capital	capital	NOUN
ajfa-14920	342	20	structure	structure	NOUN
ajfa-14920	342	21	.	.	PUNCT
ajfa-14920	343	1	for	for	ADP
ajfa-14920	343	2	internal	internal	ADJ
ajfa-14920	343	3	,	,	PUNCT
ajfa-14920	343	4	a	a	DET
ajfa-14920	343	5	company	company	NOUN
ajfa-14920	343	6	should	should	AUX
ajfa-14920	343	7	pay	pay	VERB
ajfa-14920	343	8	attention	attention	NOUN
ajfa-14920	343	9	to	to	ADP
ajfa-14920	343	10	acquisitions	acquisition	NOUN
ajfa-14920	343	11	and	and	CCONJ
ajfa-14920	343	12	increase	increase	VERB
ajfa-14920	343	13	the	the	DET
ajfa-14920	343	14	level	level	NOUN
ajfa-14920	343	15	of	of	ADP
ajfa-14920	343	16	its	its	PRON
ajfa-14920	343	17	asset	asset	NOUN
ajfa-14920	343	18	specificity	specificity	NOUN
ajfa-14920	343	19	.	.	PUNCT
ajfa-14920	344	1	and	and	CCONJ
ajfa-14920	344	2	give	give	VERB
ajfa-14920	344	3	full	full	ADJ
ajfa-14920	344	4	play	play	NOUN
ajfa-14920	344	5	to	to	ADP
ajfa-14920	344	6	the	the	DET
ajfa-14920	344	7	role	role	NOUN
ajfa-14920	344	8	of	of	ADP
ajfa-14920	344	9	asset	asset	NOUN
ajfa-14920	344	10	specificity	specificity	NOUN
ajfa-14920	344	11	in	in	ADP
ajfa-14920	344	12	financing	financing	NOUN
ajfa-14920	344	13	decisions	decision	NOUN
ajfa-14920	344	14	.	.	PUNCT
ajfa-14920	345	1	through	through	ADP
ajfa-14920	345	2	the	the	DET
ajfa-14920	345	3	analysis	analysis	NOUN
ajfa-14920	345	4	of	of	ADP
ajfa-14920	345	5	the	the	DET
ajfa-14920	345	6	existing	exist	VERB
ajfa-14920	345	7	research	research	NOUN
ajfa-14920	345	8	results	result	NOUN
ajfa-14920	345	9	,	,	PUNCT
ajfa-14920	345	10	we	we	PRON
ajfa-14920	345	11	found	find	VERB
ajfa-14920	345	12	that	that	SCONJ
ajfa-14920	345	13	the	the	DET
ajfa-14920	345	14	current	current	ADJ
ajfa-14920	345	15	research	research	NOUN
ajfa-14920	345	16	on	on	ADP
ajfa-14920	345	17	financial	financial	ADJ
ajfa-14920	345	18	resource	resource	NOUN
ajfa-14920	345	19	mismatch	mismatch	NOUN
ajfa-14920	345	20	still	still	ADV
ajfa-14920	345	21	has	have	VERB
ajfa-14920	345	22	the	the	DET
ajfa-14920	345	23	following	follow	VERB
ajfa-14920	345	24	problems	problem	NOUN
ajfa-14920	345	25	,	,	PUNCT
ajfa-14920	345	26	1	1	X
ajfa-14920	345	27	.	.	PUNCT
ajfa-14920	345	28	domestic	domestic	ADJ
ajfa-14920	345	29	research	research	NOUN
ajfa-14920	345	30	is	be	AUX
ajfa-14920	345	31	mostly	mostly	ADV
ajfa-14920	345	32	concentrated	concentrate	VERB
ajfa-14920	345	33	between	between	ADP
ajfa-14920	345	34	state	state	NOUN
ajfa-14920	345	35	-	-	PUNCT
ajfa-14920	345	36	owned	own	VERB
ajfa-14920	345	37	enterprises	enterprise	NOUN
ajfa-14920	345	38	and	and	CCONJ
ajfa-14920	345	39	private	private	ADJ
ajfa-14920	345	40	enterprises	enterprise	NOUN
ajfa-14920	345	41	,	,	PUNCT
ajfa-14920	345	42	and	and	CCONJ
ajfa-14920	345	43	less	less	ADJ
ajfa-14920	345	44	research	research	NOUN
ajfa-14920	345	45	on	on	ADP
ajfa-14920	345	46	other	other	ADJ
ajfa-14920	345	47	aspects	aspect	NOUN
ajfa-14920	345	48	.	.	PUNCT
ajfa-14920	346	1	there	there	PRON
ajfa-14920	346	2	are	be	VERB
ajfa-14920	346	3	many	many	ADJ
ajfa-14920	346	4	forms	form	NOUN
ajfa-14920	346	5	of	of	ADP
ajfa-14920	346	6	misallocation	misallocation	NOUN
ajfa-14920	346	7	channels	channel	NOUN
ajfa-14920	346	8	for	for	ADP
ajfa-14920	346	9	financial	financial	ADJ
ajfa-14920	346	10	resources	resource	NOUN
ajfa-14920	346	11	.	.	PUNCT
ajfa-14920	347	1	financial	financial	ADJ
ajfa-14920	347	2	resources	resource	NOUN
ajfa-14920	347	3	are	be	AUX
ajfa-14920	347	4	likely	likely	ADJ
ajfa-14920	347	5	to	to	PART
ajfa-14920	347	6	be	be	AUX
ajfa-14920	347	7	allocated	allocate	VERB
ajfa-14920	347	8	to	to	ADP
ajfa-14920	347	9	inefficient	inefficient	ADJ
ajfa-14920	347	10	state	state	NOUN
ajfa-14920	347	11	-	-	PUNCT
ajfa-14920	347	12	owned	own	VERB
ajfa-14920	347	13	enterprises	enterprise	NOUN
ajfa-14920	347	14	rather	rather	ADV
ajfa-14920	347	15	than	than	ADP
ajfa-14920	347	16	highly	highly	ADV
ajfa-14920	347	17	efficient	efficient	ADJ
ajfa-14920	347	18	stateowned	stateowne	VERB
ajfa-14920	347	19	enterprises	enterprise	NOUN
ajfa-14920	347	20	.	.	PUNCT
ajfa-14920	348	1	for	for	ADP
ajfa-14920	348	2	different	different	ADJ
ajfa-14920	348	3	regions	region	NOUN
ajfa-14920	348	4	,	,	PUNCT
ajfa-14920	348	5	the	the	DET
ajfa-14920	348	6	mismatching	mismatching	NOUN
ajfa-14920	348	7	of	of	ADP
ajfa-14920	348	8	financial	financial	ADJ
ajfa-14920	348	9	resources	resource	NOUN
ajfa-14920	348	10	of	of	ADP
ajfa-14920	348	11	state	state	NOUN
ajfa-14920	348	12	-	-	PUNCT
ajfa-14920	348	13	owned	own	VERB
ajfa-14920	348	14	enterprises	enterprise	NOUN
ajfa-14920	348	15	and	and	CCONJ
ajfa-14920	348	16	non	non	ADJ
ajfa-14920	348	17	-	-	ADJ
ajfa-14920	348	18	state	state	NOUN
ajfa-14920	348	19	-	-	PUNCT
ajfa-14920	348	20	owned	own	VERB
ajfa-14920	348	21	enterprises	enterprise	NOUN
ajfa-14920	348	22	are	be	AUX
ajfa-14920	348	23	not	not	PART
ajfa-14920	348	24	same	same	ADJ
ajfa-14920	348	25	;	;	PUNCT
ajfa-14920	348	26	different	different	ADJ
ajfa-14920	348	27	industries	industry	NOUN
ajfa-14920	348	28	will	will	AUX
ajfa-14920	348	29	present	present	VERB
ajfa-14920	348	30	different	different	ADJ
ajfa-14920	348	31	mismatches	mismatch	NOUN
ajfa-14920	348	32	.	.	PUNCT
ajfa-14920	349	1	it	it	PRON
ajfa-14920	349	2	is	be	AUX
ajfa-14920	349	3	also	also	ADV
ajfa-14920	349	4	necessary	necessary	ADJ
ajfa-14920	349	5	to	to	PART
ajfa-14920	349	6	pay	pay	VERB
ajfa-14920	349	7	attention	attention	NOUN
ajfa-14920	349	8	to	to	ADP
ajfa-14920	349	9	the	the	DET
ajfa-14920	349	10	fact	fact	NOUN
ajfa-14920	349	11	that	that	SCONJ
ajfa-14920	349	12	the	the	DET
ajfa-14920	349	13	mismatch	mismatch	NOUN
ajfa-14920	349	14	of	of	ADP
ajfa-14920	349	15	financial	financial	ADJ
ajfa-14920	349	16	resources	resource	NOUN
ajfa-14920	349	17	has	have	AUX
ajfa-14920	349	18	been	be	AUX
ajfa-14920	349	19	initiated	initiate	VERB
ajfa-14920	349	20	since	since	SCONJ
ajfa-14920	349	21	the	the	DET
ajfa-14920	349	22	beginning	beginning	NOUN
ajfa-14920	349	23	of	of	ADP
ajfa-14920	349	24	the	the	DET
ajfa-14920	349	25	process	process	NOUN
ajfa-14920	349	26	.	.	PUNCT
ajfa-14920	350	1	finance	finance	NOUN
ajfa-14920	350	2	is	be	AUX
ajfa-14920	350	3	the	the	DET
ajfa-14920	350	4	core	core	ADJ
ajfa-14920	350	5	sector	sector	NOUN
ajfa-14920	350	6	of	of	ADP
ajfa-14920	350	7	china	china	PROPN
ajfa-14920	350	8	’s	’s	PART
ajfa-14920	350	9	national	national	ADJ
ajfa-14920	350	10	economy	economy	NOUN
ajfa-14920	350	11	.	.	PUNCT
ajfa-14920	351	1	understanding	understand	VERB
ajfa-14920	351	2	the	the	DET
ajfa-14920	351	3	current	current	ADJ
ajfa-14920	351	4	state	state	NOUN
ajfa-14920	351	5	of	of	ADP
ajfa-14920	351	6	financial	financial	ADJ
ajfa-14920	351	7	development	development	NOUN
ajfa-14920	351	8	,	,	PUNCT
ajfa-14920	351	9	making	make	VERB
ajfa-14920	351	10	up	up	ADP
ajfa-14920	351	11	for	for	ADP
ajfa-14920	351	12	the	the	DET
ajfa-14920	351	13	shortcomings	shortcoming	NOUN
ajfa-14920	351	14	of	of	ADP
ajfa-14920	351	15	financial	financial	ADJ
ajfa-14920	351	16	development	development	NOUN
ajfa-14920	351	17	,	,	PUNCT
ajfa-14920	351	18	and	and	CCONJ
ajfa-14920	351	19	deepening	deepen	VERB
ajfa-14920	351	20	financial	financial	ADJ
ajfa-14920	351	21	development	development	NOUN
ajfa-14920	351	22	are	be	AUX
ajfa-14920	351	23	crucial	crucial	ADJ
ajfa-14920	351	24	to	to	ADP
ajfa-14920	351	25	china	china	PROPN
ajfa-14920	351	26	’s	’s	PART
ajfa-14920	351	27	economic	economic	ADJ
ajfa-14920	351	28	growth	growth	NOUN
ajfa-14920	351	29	.	.	PUNCT
ajfa-14920	352	1	2	2	X
ajfa-14920	352	2	.	.	X
ajfa-14920	352	3	the	the	DET
ajfa-14920	352	4	mechanism	mechanism	NOUN
ajfa-14920	352	5	of	of	ADP
ajfa-14920	352	6	interaction	interaction	NOUN
ajfa-14920	352	7	between	between	ADP
ajfa-14920	352	8	financial	financial	ADJ
ajfa-14920	352	9	resource	resource	NOUN
ajfa-14920	352	10	mismatch	mismatch	NOUN
ajfa-14920	352	11	and	and	CCONJ
ajfa-14920	352	12	economic	economic	ADJ
ajfa-14920	352	13	growth	growth	NOUN
ajfa-14920	352	14	still	still	ADV
ajfa-14920	352	15	needs	need	VERB
ajfa-14920	352	16	to	to	PART
ajfa-14920	352	17	be	be	AUX
ajfa-14920	352	18	carefully	carefully	ADV
ajfa-14920	352	19	scrutinized	scrutinize	VERB
ajfa-14920	352	20	.	.	PUNCT
ajfa-14920	353	1	at	at	ADP
ajfa-14920	353	2	present	present	ADJ
ajfa-14920	353	3	,	,	PUNCT
ajfa-14920	353	4	the	the	DET
ajfa-14920	353	5	impact	impact	NOUN
ajfa-14920	353	6	of	of	ADP
ajfa-14920	353	7	financial	financial	ADJ
ajfa-14920	353	8	development	development	NOUN
ajfa-14920	353	9	on	on	ADP
ajfa-14920	353	10	economic	economic	ADJ
ajfa-14920	353	11	growth	growth	NOUN
ajfa-14920	353	12	has	have	AUX
ajfa-14920	353	13	obtained	obtain	VERB
ajfa-14920	353	14	relatively	relatively	ADV
ajfa-14920	353	15	consistent	consistent	ADJ
ajfa-14920	353	16	empirical	empirical	ADJ
ajfa-14920	353	17	results	result	NOUN
ajfa-14920	353	18	both	both	CCONJ
ajfa-14920	353	19	at	at	ADP
ajfa-14920	353	20	home	home	NOUN
ajfa-14920	353	21	and	and	CCONJ
ajfa-14920	353	22	abroad	abroad	ADV
ajfa-14920	353	23	,	,	PUNCT
ajfa-14920	353	24	and	and	CCONJ
ajfa-14920	353	25	it	it	PRON
ajfa-14920	353	26	is	be	AUX
ajfa-14920	353	27	believed	believe	VERB
ajfa-14920	353	28	that	that	SCONJ
ajfa-14920	353	29	financial	financial	ADJ
ajfa-14920	353	30	development	development	NOUN
ajfa-14920	353	31	has	have	VERB
ajfa-14920	353	32	obvious	obvious	ADJ
ajfa-14920	353	33	economic	economic	ADJ
ajfa-14920	353	34	growth	growth	NOUN
ajfa-14920	353	35	.	.	PUNCT
ajfa-14920	354	1	however	however	ADV
ajfa-14920	354	2	,	,	PUNCT
ajfa-14920	354	3	the	the	DET
ajfa-14920	354	4	research	research	NOUN
ajfa-14920	354	5	on	on	ADP
ajfa-14920	354	6	the	the	DET
ajfa-14920	354	7	mismatch	mismatch	NOUN
ajfa-14920	354	8	between	between	ADP
ajfa-14920	354	9	financial	financial	ADJ
ajfa-14920	354	10	resources	resource	NOUN
ajfa-14920	354	11	and	and	CCONJ
ajfa-14920	354	12	financial	financial	ADJ
ajfa-14920	354	13	development	development	NOUN
ajfa-14920	354	14	or	or	CCONJ
ajfa-14920	354	15	the	the	DET
ajfa-14920	354	16	mechanism	mechanism	NOUN
ajfa-14920	354	17	of	of	ADP
ajfa-14920	354	18	impact	impact	NOUN
ajfa-14920	354	19	on	on	ADP
ajfa-14920	354	20	economic	economic	ADJ
ajfa-14920	354	21	growth	growth	NOUN
ajfa-14920	354	22	is	be	AUX
ajfa-14920	354	23	still	still	ADV
ajfa-14920	354	24	unclear	unclear	ADJ
ajfa-14920	354	25	.	.	PUNCT
ajfa-14920	355	1	because	because	SCONJ
ajfa-14920	355	2	different	different	ADJ
ajfa-14920	355	3	mismatch	mismatch	NOUN
ajfa-14920	355	4	metrics	metric	NOUN
ajfa-14920	355	5	and	and	CCONJ
ajfa-14920	355	6	different	different	ADJ
ajfa-14920	355	7	economic	economic	ADJ
ajfa-14920	355	8	growth	growth	NOUN
ajfa-14920	355	9	metrics	metric	NOUN
ajfa-14920	355	10	asian	asian	ADJ
ajfa-14920	355	11	journal	journal	NOUN
ajfa-14920	355	12	of	of	ADP
ajfa-14920	355	13	finance	finance	PROPN
ajfa-14920	355	14	&	&	CCONJ
ajfa-14920	355	15	accounting	accounting	PROPN
ajfa-14920	355	16	issn	issn	PROPN
ajfa-14920	355	17	1946	1946	NUM
ajfa-14920	355	18	-	-	PUNCT
ajfa-14920	355	19	052x	052x	PROPN
ajfa-14920	355	20	2019	2019	NUM
ajfa-14920	355	21	,	,	PUNCT
ajfa-14920	355	22	vol	vol	NOUN
ajfa-14920	355	23	.	.	PROPN
ajfa-14920	355	24	11	11	NUM
ajfa-14920	355	25	,	,	PUNCT
ajfa-14920	355	26	no	no	INTJ
ajfa-14920	355	27	.	.	NOUN
ajfa-14920	355	28	2	2	NUM
ajfa-14920	355	29	ajfa.macrothink.org/	ajfa.macrothink.org/	NOUN
ajfa-14920	355	30	255	255	NUM
ajfa-14920	355	31	often	often	ADV
ajfa-14920	355	32	produce	produce	VERB
ajfa-14920	355	33	different	different	ADJ
ajfa-14920	355	34	results	result	NOUN
ajfa-14920	355	35	,	,	PUNCT
ajfa-14920	355	36	the	the	DET
ajfa-14920	355	37	current	current	ADJ
ajfa-14920	355	38	theory	theory	NOUN
ajfa-14920	355	39	of	of	ADP
ajfa-14920	355	40	financial	financial	ADJ
ajfa-14920	355	41	resource	resource	NOUN
ajfa-14920	355	42	mismatch	mismatch	NOUN
ajfa-14920	355	43	does	do	AUX
ajfa-14920	355	44	not	not	PART
ajfa-14920	355	45	achieve	achieve	VERB
ajfa-14920	355	46	a	a	DET
ajfa-14920	355	47	more	more	ADV
ajfa-14920	355	48	unified	unified	ADJ
ajfa-14920	355	49	measurement	measurement	NOUN
ajfa-14920	355	50	.	.	PUNCT
ajfa-14920	356	1	these	these	DET
ajfa-14920	356	2	issues	issue	NOUN
ajfa-14920	356	3	require	require	VERB
ajfa-14920	356	4	further	further	ADJ
ajfa-14920	356	5	research	research	NOUN
ajfa-14920	356	6	.	.	PUNCT
ajfa-14920	357	1	besides	besides	SCONJ
ajfa-14920	357	2	,	,	PUNCT
ajfa-14920	357	3	the	the	DET
ajfa-14920	357	4	research	research	NOUN
ajfa-14920	357	5	on	on	ADP
ajfa-14920	357	6	the	the	DET
ajfa-14920	357	7	economic	economic	ADJ
ajfa-14920	357	8	consequences	consequence	NOUN
ajfa-14920	357	9	of	of	ADP
ajfa-14920	357	10	asset	asset	NOUN
ajfa-14920	357	11	specificity	specificity	NOUN
ajfa-14920	357	12	in	in	ADP
ajfa-14920	357	13	china	china	PROPN
ajfa-14920	357	14	is	be	AUX
ajfa-14920	357	15	not	not	PART
ajfa-14920	357	16	fully	fully	ADV
ajfa-14920	357	17	carried	carry	VERB
ajfa-14920	357	18	out	out	ADP
ajfa-14920	357	19	.	.	PUNCT
ajfa-14920	358	1	within	within	ADP
ajfa-14920	358	2	the	the	DET
ajfa-14920	358	3	framework	framework	NOUN
ajfa-14920	358	4	of	of	ADP
ajfa-14920	358	5	new	new	ADJ
ajfa-14920	358	6	institutional	institutional	ADJ
ajfa-14920	358	7	economics	economic	NOUN
ajfa-14920	358	8	,	,	PUNCT
ajfa-14920	358	9	the	the	DET
ajfa-14920	358	10	theoretical	theoretical	ADJ
ajfa-14920	358	11	analysis	analysis	NOUN
ajfa-14920	358	12	of	of	ADP
ajfa-14920	358	13	the	the	DET
ajfa-14920	358	14	impact	impact	NOUN
ajfa-14920	358	15	of	of	ADP
ajfa-14920	358	16	asset	asset	NOUN
ajfa-14920	358	17	specificity	specificity	NOUN
ajfa-14920	358	18	on	on	ADP
ajfa-14920	358	19	capital	capital	NOUN
ajfa-14920	358	20	structure	structure	NOUN
ajfa-14920	358	21	in	in	ADP
ajfa-14920	358	22	china	china	PROPN
ajfa-14920	358	23	’s	’s	PART
ajfa-14920	358	24	special	special	ADJ
ajfa-14920	358	25	institutional	institutional	ADJ
ajfa-14920	358	26	context	context	NOUN
ajfa-14920	358	27	still	still	ADV
ajfa-14920	358	28	needs	need	VERB
ajfa-14920	358	29	to	to	PART
ajfa-14920	358	30	be	be	AUX
ajfa-14920	358	31	deepened	deepen	VERB
ajfa-14920	358	32	.	.	PUNCT
ajfa-14920	359	1	in	in	ADP
ajfa-14920	359	2	empirical	empirical	ADJ
ajfa-14920	359	3	research	research	NOUN
ajfa-14920	359	4	,	,	PUNCT
ajfa-14920	359	5	it	it	PRON
ajfa-14920	359	6	is	be	AUX
ajfa-14920	359	7	still	still	ADV
ajfa-14920	359	8	necessary	necessary	ADJ
ajfa-14920	359	9	to	to	PART
ajfa-14920	359	10	explore	explore	VERB
ajfa-14920	359	11	a	a	DET
ajfa-14920	359	12	more	more	ADV
ajfa-14920	359	13	reasonable	reasonable	ADJ
ajfa-14920	359	14	,	,	PUNCT
ajfa-14920	359	15	effective	effective	ADJ
ajfa-14920	359	16	and	and	CCONJ
ajfa-14920	359	17	accurate	accurate	ADJ
ajfa-14920	359	18	method	method	NOUN
ajfa-14920	359	19	to	to	PART
ajfa-14920	359	20	measure	measure	VERB
ajfa-14920	359	21	asset	asset	NOUN
ajfa-14920	359	22	specificity	specificity	NOUN
ajfa-14920	359	23	.	.	PUNCT
ajfa-14920	360	1	therefore	therefore	ADV
ajfa-14920	360	2	,	,	PUNCT
ajfa-14920	360	3	the	the	DET
ajfa-14920	360	4	research	research	NOUN
ajfa-14920	360	5	on	on	ADP
ajfa-14920	360	6	the	the	DET
ajfa-14920	360	7	relationship	relationship	NOUN
ajfa-14920	360	8	between	between	ADP
ajfa-14920	360	9	asset	asset	NOUN
ajfa-14920	360	10	specificity	specificity	NOUN
ajfa-14920	360	11	and	and	CCONJ
ajfa-14920	360	12	capital	capital	NOUN
ajfa-14920	360	13	structure	structure	NOUN
ajfa-14920	360	14	still	still	ADV
ajfa-14920	360	15	needs	need	VERB
ajfa-14920	360	16	to	to	PART
ajfa-14920	360	17	be	be	AUX
ajfa-14920	360	18	further	far	ADV
ajfa-14920	360	19	improved	improve	VERB
ajfa-14920	360	20	.	.	PUNCT
ajfa-14920	361	1	references	reference	NOUN
ajfa-14920	361	2	acemoglu	acemoglu	PROPN
ajfa-14920	361	3	d	d	NOUN
ajfa-14920	361	4	,	,	PUNCT
ajfa-14920	361	5	aghion	aghion	NOUN
ajfa-14920	361	6	p	p	NOUN
ajfa-14920	361	7	,	,	PUNCT
ajfa-14920	361	8	&	&	CCONJ
ajfa-14920	361	9	zilibotti	zilibotti	PROPN
ajfa-14920	361	10	f.	f.	PROPN
ajfa-14920	361	11	(	(	PUNCT
ajfa-14920	361	12	2002	2002	NUM
ajfa-14920	361	13	)	)	PUNCT
ajfa-14920	361	14	.	.	PUNCT
ajfa-14920	362	1	distance	distance	NOUN
ajfa-14920	362	2	to	to	ADP
ajfa-14920	362	3	frontier	frontier	NOUN
ajfa-14920	362	4	,	,	PUNCT
ajfa-14920	362	5	selection	selection	NOUN
ajfa-14920	362	6	,	,	PUNCT
ajfa-14920	362	7	and	and	CCONJ
ajfa-14920	362	8	economic	economic	ADJ
ajfa-14920	362	9	growth	growth	NOUN
ajfa-14920	362	10	.	.	PUNCT
ajfa-14920	363	1	journal	journal	NOUN
ajfa-14920	363	2	of	of	ADP
ajfa-14920	363	3	the	the	DET
ajfa-14920	363	4	european	european	PROPN
ajfa-14920	363	5	economic	economic	PROPN
ajfa-14920	363	6	association	association	PROPN
ajfa-14920	363	7	,	,	PUNCT
ajfa-14920	363	8	4(1	4(1	NOUN
ajfa-14920	363	9	)	)	PUNCT
ajfa-14920	363	10	,	,	PUNCT
ajfa-14920	363	11	37	37	NUM
ajfa-14920	363	12	-	-	SYM
ajfa-14920	363	13	74	74	NUM
ajfa-14920	363	14	.	.	PUNCT
ajfa-14920	364	1	https://doi.org/10.1162/jeea.2006.4.1.37	https://doi.org/10.1162/jeea.2006.4.1.37	PROPN
ajfa-14920	364	2	ayyagari	ayyagari	PROPN
ajfa-14920	364	3	,	,	PUNCT
ajfa-14920	364	4	m.	m.	NOUN
ajfa-14920	364	5	,	,	PUNCT
ajfa-14920	364	6	a.	a.	PROPN
ajfa-14920	364	7	demirguc	demirguc	PROPN
ajfa-14920	364	8	-	-	PUNCT
ajfa-14920	364	9	kunt	kunt	PROPN
ajfa-14920	364	10	,	,	PUNCT
ajfa-14920	364	11	&	&	CCONJ
ajfa-14920	364	12	a.	a.	PROPN
ajfa-14920	364	13	maksimovic	maksimovic	PROPN
ajfa-14920	364	14	.	.	PUNCT
ajfa-14920	365	1	(	(	PUNCT
ajfa-14920	365	2	2008	2008	NUM
ajfa-14920	365	3	)	)	PUNCT
ajfa-14920	365	4	.	.	PUNCT
ajfa-14920	366	1	formal	formal	ADJ
ajfa-14920	366	2	versus	versus	ADP
ajfa-14920	366	3	informal	informal	ADJ
ajfa-14920	366	4	finance	finance	NOUN
ajfa-14920	366	5	,	,	PUNCT
ajfa-14920	366	6	evidence	evidence	NOUN
ajfa-14920	366	7	from	from	ADP
ajfa-14920	366	8	china	china	PROPN
ajfa-14920	366	9	.	.	PUNCT
ajfa-14920	367	1	the	the	DET
ajfa-14920	367	2	review	review	NOUN
ajfa-14920	367	3	of	of	ADP
ajfa-14920	367	4	financial	financial	ADJ
ajfa-14920	367	5	studies	study	NOUN
ajfa-14920	367	6	.	.	PUNCT
ajfa-14920	368	1	https://doi.org/10.1596/1813-9450-4465	https://doi.org/10.1596/1813-9450-4465	PROPN
ajfa-14920	368	2	ayyagari	ayyagari	PROPN
ajfa-14920	368	3	,	,	PUNCT
ajfa-14920	368	4	meghana	meghana	PROPN
ajfa-14920	368	5	,	,	PUNCT
ajfa-14920	368	6	et	et	NOUN
ajfa-14920	368	7	al.(2011	al.(2011	PROPN
ajfa-14920	368	8	)	)	PUNCT
ajfa-14920	368	9	.	.	PUNCT
ajfa-14920	369	1	firm	firm	ADJ
ajfa-14920	369	2	innovation	innovation	NOUN
ajfa-14920	369	3	in	in	ADP
ajfa-14920	369	4	emerging	emerge	VERB
ajfa-14920	369	5	markets	market	NOUN
ajfa-14920	369	6	,	,	PUNCT
ajfa-14920	369	7	the	the	DET
ajfa-14920	369	8	role	role	NOUN
ajfa-14920	369	9	of	of	ADP
ajfa-14920	369	10	finance	finance	NOUN
ajfa-14920	369	11	,	,	PUNCT
ajfa-14920	369	12	governance	governance	NOUN
ajfa-14920	369	13	,	,	PUNCT
ajfa-14920	369	14	and	and	CCONJ
ajfa-14920	369	15	competition	competition	NOUN
ajfa-14920	369	16	.	.	PUNCT
ajfa-14920	370	1	the	the	DET
ajfa-14920	370	2	journal	journal	NOUN
ajfa-14920	370	3	of	of	ADP
ajfa-14920	370	4	financial	financial	ADJ
ajfa-14920	370	5	and	and	CCONJ
ajfa-14920	370	6	quantitative	quantitative	ADJ
ajfa-14920	370	7	analysis	analysis	NOUN
ajfa-14920	370	8	,	,	PUNCT
ajfa-14920	370	9	46(6	46(6	NOUN
ajfa-14920	370	10	)	)	PUNCT
ajfa-14920	370	11	,	,	PUNCT
ajfa-14920	370	12	1545	1545	NUM
ajfa-14920	370	13	-	-	SYM
ajfa-14920	370	14	1580	1580	NUM
ajfa-14920	370	15	.	.	PUNCT
ajfa-14920	371	1	https://doi.org/10.1017/s0022109011000378	https://doi.org/10.1017/s0022109011000378	NUM
ajfa-14920	371	2	blackburn	blackburn	NOUN
ajfa-14920	371	3	,	,	PUNCT
ajfa-14920	371	4	keith	keith	PROPN
ajfa-14920	371	5	,	,	PUNCT
ajfa-14920	371	6	victor	victor	PROPN
ajfa-14920	371	7	t	t	PROPN
ajfa-14920	371	8	y	y	PROPN
ajfa-14920	371	9	hung	hung	PROPN
ajfa-14920	371	10	.	.	PUNCT
ajfa-14920	372	1	(	(	PUNCT
ajfa-14920	372	2	1998	1998	NUM
ajfa-14920	372	3	)	)	PUNCT
ajfa-14920	372	4	.	.	PUNCT
ajfa-14920	373	1	a	a	DET
ajfa-14920	373	2	theory	theory	NOUN
ajfa-14920	373	3	of	of	ADP
ajfa-14920	373	4	growth	growth	NOUN
ajfa-14920	373	5	,	,	PUNCT
ajfa-14920	373	6	financial	financial	ADJ
ajfa-14920	373	7	development	development	NOUN
ajfa-14920	373	8	and	and	CCONJ
ajfa-14920	373	9	trade	trade	NOUN
ajfa-14920	373	10	.	.	PUNCT
ajfa-14920	374	1	economica	economica	PROPN
ajfa-14920	374	2	,	,	PUNCT
ajfa-14920	374	3	65(257	65(257	NOUN
ajfa-14920	374	4	)	)	PUNCT
ajfa-14920	374	5	,	,	PUNCT
ajfa-14920	374	6	107	107	NUM
ajfa-14920	374	7	-	-	SYM
ajfa-14920	374	8	124	124	NUM
ajfa-14920	374	9	.	.	PUNCT
ajfa-14920	375	1	https://doi.org/10.1111/1468-0335.00116	https://doi.org/10.1111/1468-0335.00116	PROPN
ajfa-14920	375	2	brandt	brandt	PROPN
ajfa-14920	375	3	,	,	PUNCT
ajfa-14920	375	4	l.	l.	PROPN
ajfa-14920	375	5	,	,	PUNCT
ajfa-14920	375	6	&	&	CCONJ
ajfa-14920	375	7	h.	h.	PROPN
ajfa-14920	375	8	li	li	PROPN
ajfa-14920	375	9	.	.	PROPN
ajfa-14920	375	10	(	(	PUNCT
ajfa-14920	375	11	2003	2003	NUM
ajfa-14920	375	12	)	)	PUNCT
ajfa-14920	375	13	.	.	PUNCT
ajfa-14920	376	1	bank	bank	NOUN
ajfa-14920	376	2	discrimination	discrimination	NOUN
ajfa-14920	376	3	in	in	ADP
ajfa-14920	376	4	transition	transition	NOUN
ajfa-14920	376	5	economics	economic	NOUN
ajfa-14920	376	6	,	,	PUNCT
ajfa-14920	376	7	ideology	ideology	NOUN
ajfa-14920	376	8	,	,	PUNCT
ajfa-14920	376	9	information	information	NOUN
ajfa-14920	376	10	,	,	PUNCT
ajfa-14920	376	11	or	or	CCONJ
ajfa-14920	376	12	incentives	incentive	NOUN
ajfa-14920	376	13	?	?	PUNCT
ajfa-14920	377	1	journal	journal	NOUN
ajfa-14920	377	2	of	of	ADP
ajfa-14920	377	3	comparative	comparative	ADJ
ajfa-14920	377	4	economics	economic	NOUN
ajfa-14920	377	5	,	,	PUNCT
ajfa-14920	377	6	31(3	31(3	NUM
ajfa-14920	377	7	)	)	PUNCT
ajfa-14920	377	8	,	,	PUNCT
ajfa-14920	377	9	387	387	NUM
ajfa-14920	377	10	-	-	SYM
ajfa-14920	377	11	413	413	NUM
ajfa-14920	377	12	.	.	PUNCT
ajfa-14920	378	1	https://doi.org/10.1016/s0147-5967(03)00080-5	https://doi.org/10.1016/s0147-5967(03)00080-5	PROPN
ajfa-14920	378	2	brown	brown	PROPN
ajfa-14920	378	3	j	j	PROPN
ajfa-14920	378	4	r	r	PROPN
ajfa-14920	378	5	,	,	PUNCT
ajfa-14920	378	6	fazzari	fazzari	PROPN
ajfa-14920	378	7	s	s	PART
ajfa-14920	378	8	m	m	PROPN
ajfa-14920	378	9	,	,	PUNCT
ajfa-14920	378	10	&	&	CCONJ
ajfa-14920	378	11	petersen	petersen	PROPN
ajfa-14920	378	12	b	b	PROPN
ajfa-14920	378	13	c.	c.	PROPN
ajfa-14920	378	14	(	(	PUNCT
ajfa-14920	378	15	2009	2009	NUM
ajfa-14920	378	16	)	)	PUNCT
ajfa-14920	378	17	.	.	PUNCT
ajfa-14920	379	1	financing	finance	VERB
ajfa-14920	379	2	innovation	innovation	NOUN
ajfa-14920	379	3	and	and	CCONJ
ajfa-14920	379	4	growth	growth	NOUN
ajfa-14920	379	5	,	,	PUNCT
ajfa-14920	379	6	cash	cash	NOUN
ajfa-14920	379	7	flow	flow	NOUN
ajfa-14920	379	8	,	,	PUNCT
ajfa-14920	379	9	external	external	ADJ
ajfa-14920	379	10	equity	equity	NOUN
ajfa-14920	379	11	,	,	PUNCT
ajfa-14920	379	12	and	and	CCONJ
ajfa-14920	379	13	the	the	DET
ajfa-14920	379	14	1990s	1990	NOUN
ajfa-14920	379	15	r&d	r&d	NOUN
ajfa-14920	379	16	boom	boom	NOUN
ajfa-14920	379	17	.	.	PUNCT
ajfa-14920	380	1	journal	journal	NOUN
ajfa-14920	380	2	of	of	ADP
ajfa-14920	380	3	finance	finance	NOUN
ajfa-14920	380	4	,	,	PUNCT
ajfa-14920	380	5	64(1	64(1	NUM
ajfa-14920	380	6	)	)	PUNCT
ajfa-14920	380	7	,	,	PUNCT
ajfa-14920	380	8	151	151	NUM
ajfa-14920	380	9	-	-	SYM
ajfa-14920	380	10	185	185	NUM
ajfa-14920	380	11	.	.	PUNCT
ajfa-14920	381	1	https://doi.org/10.1111/j.1540-6261.2008.01431.x	https://doi.org/10.1111/j.1540-6261.2008.01431.x	NOUN
ajfa-14920	381	2	cheng	cheng	PROPN
ajfa-14920	381	3	h.	h.	PROPN
ajfa-14920	381	4	,	,	PUNCT
ajfa-14920	381	5	(	(	PUNCT
ajfa-14920	381	6	2004	2004	NUM
ajfa-14920	381	7	)	)	PUNCT
ajfa-14920	381	8	.	.	PUNCT
ajfa-14920	382	1	implicit	implicit	ADJ
ajfa-14920	382	2	contract	contract	NOUN
ajfa-14920	382	3	,	,	PUNCT
ajfa-14920	382	4	special	special	ADJ
ajfa-14920	382	5	investment	investment	NOUN
ajfa-14920	382	6	and	and	CCONJ
ajfa-14920	382	7	capital	capital	NOUN
ajfa-14920	382	8	structure	structure	NOUN
ajfa-14920	382	9	.	.	PUNCT
ajfa-14920	383	1	china	china	PROPN
ajfa-14920	383	2	’s	’s	PART
ajfa-14920	383	3	industrial	industrial	ADJ
ajfa-14920	383	4	economy	economy	NOUN
ajfa-14920	383	5	,	,	PUNCT
ajfa-14920	383	6	8	8	NUM
ajfa-14920	383	7	,	,	PUNCT
ajfa-14920	383	8	42	42	NUM
ajfa-14920	383	9	-	-	SYM
ajfa-14920	383	10	49	49	NUM
ajfa-14920	383	11	.	.	PUNCT
ajfa-14920	384	1	(	(	PUNCT
ajfa-14920	384	2	chinese	chinese	ADJ
ajfa-14920	384	3	)	)	PUNCT
ajfa-14920	384	4	claessens	claessen	VERB
ajfa-14920	384	5	s.	s.	PROPN
ajfa-14920	384	6	&	&	CCONJ
ajfa-14920	384	7	laeven	laeven	PROPN
ajfa-14920	384	8	l.	l.	PROPN
ajfa-14920	384	9	(	(	PUNCT
ajfa-14920	384	10	2003	2003	NUM
ajfa-14920	384	11	)	)	PUNCT
ajfa-14920	384	12	.	.	PUNCT
ajfa-14920	385	1	financial	financial	ADJ
ajfa-14920	385	2	development	development	NOUN
ajfa-14920	385	3	,	,	PUNCT
ajfa-14920	385	4	property	property	NOUN
ajfa-14920	385	5	rights	right	NOUN
ajfa-14920	385	6	and	and	CCONJ
ajfa-14920	385	7	growth	growth	NOUN
ajfa-14920	385	8	.	.	PUNCT
ajfa-14920	386	1	the	the	DET
ajfa-14920	386	2	journal	journal	NOUN
ajfa-14920	386	3	of	of	ADP
ajfa-14920	386	4	finance	finance	NOUN
ajfa-14920	386	5	,	,	PUNCT
ajfa-14920	386	6	(	(	PUNCT
ajfa-14920	386	7	6	6	NUM
ajfa-14920	386	8	)	)	PUNCT
ajfa-14920	386	9	.	.	PUNCT
ajfa-14920	387	1	https://doi.org/10.1046/j.1540-6261.2003.00610.x	https://doi.org/10.1046/j.1540-6261.2003.00610.x	PROPN
ajfa-14920	387	2	dela	dela	PROPN
ajfa-14920	387	3	fuente	fuente	PROPN
ajfa-14920	387	4	,	,	PUNCT
ajfa-14920	387	5	angel	angel	NOUN
ajfa-14920	387	6	,	,	PUNCT
ajfa-14920	387	7	marin	marin	NOUN
ajfa-14920	387	8	,	,	PUNCT
ajfa-14920	387	9	jose	jose	PROPN
ajfa-14920	387	10	maria	maria	PROPN
ajfa-14920	387	11	.	.	PUNCT
ajfa-14920	388	1	(	(	PUNCT
ajfa-14920	388	2	1996	1996	NUM
ajfa-14920	388	3	)	)	PUNCT
ajfa-14920	388	4	.	.	PUNCT
ajfa-14920	389	1	innovation	innovation	NOUN
ajfa-14920	389	2	,	,	PUNCT
ajfa-14920	389	3	bank	bank	NOUN
ajfa-14920	389	4	monitoring	monitoring	NOUN
ajfa-14920	389	5	,	,	PUNCT
ajfa-14920	389	6	and	and	CCONJ
ajfa-14920	389	7	endogenous	endogenous	ADJ
ajfa-14920	389	8	financial	financial	ADJ
ajfa-14920	389	9	development	development	NOUN
ajfa-14920	389	10	.	.	PUNCT
ajfa-14920	390	1	journal	journal	PROPN
ajfa-14920	390	2	of	of	ADP
ajfa-14920	390	3	monetary	monetary	ADJ
ajfa-14920	390	4	economics	economic	NOUN
ajfa-14920	390	5	,	,	PUNCT
ajfa-14920	390	6	38(2	38(2	NOUN
ajfa-14920	390	7	)	)	PUNCT
ajfa-14920	390	8	,	,	PUNCT
ajfa-14920	390	9	269	269	NUM
ajfa-14920	390	10	-	-	SYM
ajfa-14920	390	11	301	301	NUM
ajfa-14920	390	12	.	.	PUNCT
ajfa-14920	391	1	https://doi.org/10.1016/s0304-3932(96)01277-9	https://doi.org/10.1016/s0304-3932(96)01277-9	PROPN
ajfa-14920	391	2	dollar	dollar	PROPN
ajfa-14920	391	3	,	,	PUNCT
ajfa-14920	391	4	d.	d.	PROPN
ajfa-14920	391	5	,	,	PUNCT
ajfa-14920	391	6	&	&	CCONJ
ajfa-14920	391	7	s.	s.	PROPN
ajfa-14920	391	8	wei	wei	PROPN
ajfa-14920	391	9	.	.	PUNCT
ajfa-14920	392	1	(	(	PUNCT
ajfa-14920	392	2	2007	2007	NUM
ajfa-14920	392	3	)	)	PUNCT
ajfa-14920	392	4	.	.	PUNCT
ajfa-14920	393	1	das	das	PROPN
ajfa-14920	393	2	(	(	PUNCT
ajfa-14920	393	3	wasted	waste	VERB
ajfa-14920	393	4	)	)	PUNCT
ajfa-14920	393	5	kapital	kapital	PROPN
ajfa-14920	393	6	,	,	PUNCT
ajfa-14920	393	7	firm	firm	ADJ
ajfa-14920	393	8	ownership	ownership	NOUN
ajfa-14920	393	9	and	and	CCONJ
ajfa-14920	393	10	investment	investment	NOUN
ajfa-14920	393	11	efficiency	efficiency	NOUN
ajfa-14920	393	12	in	in	ADP
ajfa-14920	393	13	china	china	PROPN
ajfa-14920	393	14	.	.	PUNCT
ajfa-14920	394	1	working	work	VERB
ajfa-14920	394	2	paper	paper	NOUN
ajfa-14920	394	3	,	,	PUNCT
ajfa-14920	394	4	national	national	ADJ
ajfa-14920	394	5	bureau	bureau	PROPN
ajfa-14920	394	6	of	of	ADP
ajfa-14920	394	7	economic	economic	ADJ
ajfa-14920	394	8	research	research	NOUN
ajfa-14920	394	9	.	.	PUNCT
ajfa-14920	395	1	https://doi.org/10.3386/w13103	https://doi.org/10.3386/w13103	NUM
ajfa-14920	395	2	asian	asian	ADJ
ajfa-14920	395	3	journal	journal	NOUN
ajfa-14920	395	4	of	of	ADP
ajfa-14920	395	5	finance	finance	PROPN
ajfa-14920	395	6	&	&	CCONJ
ajfa-14920	395	7	accounting	accounting	PROPN
ajfa-14920	395	8	issn	issn	PROPN
ajfa-14920	395	9	1946	1946	NUM
ajfa-14920	395	10	-	-	PUNCT
ajfa-14920	395	11	052x	052x	PROPN
ajfa-14920	395	12	2019	2019	NUM
ajfa-14920	395	13	,	,	PUNCT
ajfa-14920	395	14	vol	vol	NOUN
ajfa-14920	395	15	.	.	PROPN
ajfa-14920	395	16	11	11	NUM
ajfa-14920	395	17	,	,	PUNCT
ajfa-14920	395	18	no	no	INTJ
ajfa-14920	395	19	.	.	NOUN
ajfa-14920	395	20	2	2	NUM
ajfa-14920	395	21	ajfa.macrothink.org/	ajfa.macrothink.org/	NOUN
ajfa-14920	395	22	256	256	NUM
ajfa-14920	395	23	gorodnichenko	gorodnichenko	PROPN
ajfa-14920	395	24	y	y	PROPN
ajfa-14920	395	25	,	,	PUNCT
ajfa-14920	395	26	&	&	CCONJ
ajfa-14920	395	27	schnitzer	schnitzer	PROPN
ajfa-14920	395	28	m.	m.	PROPN
ajfa-14920	395	29	(	(	PUNCT
ajfa-14920	395	30	2013	2013	NUM
ajfa-14920	395	31	)	)	PUNCT
ajfa-14920	395	32	.	.	PUNCT
ajfa-14920	396	1	financial	financial	ADJ
ajfa-14920	396	2	constraints	constraint	NOUN
ajfa-14920	396	3	and	and	CCONJ
ajfa-14920	396	4	innovation	innovation	NOUN
ajfa-14920	396	5	,	,	PUNCT
ajfa-14920	396	6	why	why	SCONJ
ajfa-14920	396	7	poor	poor	ADJ
ajfa-14920	396	8	countries	country	NOUN
ajfa-14920	396	9	do	do	AUX
ajfa-14920	396	10	n’t	not	PART
ajfa-14920	396	11	catch	catch	VERB
ajfa-14920	396	12	up	up	ADP
ajfa-14920	396	13	.	.	PUNCT
ajfa-14920	397	1	journal	journal	NOUN
ajfa-14920	397	2	of	of	ADP
ajfa-14920	397	3	the	the	DET
ajfa-14920	397	4	european	european	PROPN
ajfa-14920	397	5	economic	economic	PROPN
ajfa-14920	397	6	association	association	PROPN
ajfa-14920	397	7	,	,	PUNCT
ajfa-14920	397	8	11(5	11(5	NUM
ajfa-14920	397	9	)	)	PUNCT
ajfa-14920	397	10	,	,	PUNCT
ajfa-14920	397	11	1115	1115	NUM
ajfa-14920	397	12	-1152	-1152	PROPN
ajfa-14920	397	13	.	.	PUNCT
ajfa-14920	398	1	https://doi.org/10.1111/jeea.12033	https://doi.org/10.1111/jeea.12033	PROPN
ajfa-14920	398	2	hsieh	hsieh	PROPN
ajfa-14920	398	3	,	,	PUNCT
ajfa-14920	398	4	chang	chang	PROPN
ajfa-14920	398	5	-	-	PUNCT
ajfa-14920	398	6	tai	tai	PROPN
ajfa-14920	398	7	,	,	PUNCT
ajfa-14920	398	8	&	&	CCONJ
ajfa-14920	398	9	peter	peter	PROPN
ajfa-14920	398	10	j.	j.	PROPN
ajfa-14920	398	11	klenow	klenow	PROPN
ajfa-14920	398	12	.	.	PUNCT
ajfa-14920	399	1	(	(	PUNCT
ajfa-14920	399	2	2009	2009	NUM
ajfa-14920	399	3	)	)	PUNCT
ajfa-14920	399	4	.	.	PUNCT
ajfa-14920	400	1	misallocation	misallocation	NOUN
ajfa-14920	400	2	and	and	CCONJ
ajfa-14920	400	3	manufacturing	manufacture	VERB
ajfa-14920	400	4	tfp	tfp	PROPN
ajfa-14920	400	5	in	in	ADP
ajfa-14920	400	6	china	china	PROPN
ajfa-14920	400	7	and	and	CCONJ
ajfa-14920	400	8	india	india	PROPN
ajfa-14920	400	9	.	.	PUNCT
ajfa-14920	401	1	the	the	DET
ajfa-14920	401	2	quarterly	quarterly	ADJ
ajfa-14920	401	3	journal	journal	NOUN
ajfa-14920	401	4	of	of	ADP
ajfa-14920	401	5	economics	economic	NOUN
ajfa-14920	401	6	,	,	PUNCT
ajfa-14920	401	7	124(4	124(4	NUM
ajfa-14920	401	8	)	)	PUNCT
ajfa-14920	401	9	,	,	PUNCT
ajfa-14920	401	10	1403	1403	NUM
ajfa-14920	401	11	-	-	SYM
ajfa-14920	401	12	1448	1448	NUM
ajfa-14920	401	13	.	.	PUNCT
ajfa-14920	402	1	https://doi.org/10.1162/qjec.2009.124.4.1403	https://doi.org/10.1162/qjec.2009.124.4.1403	NOUN
ajfa-14920	402	2	jaemin	jaemin	PROPN
ajfa-14920	402	3	cho	cho	PROPN
ajfa-14920	402	4	&	&	CCONJ
ajfa-14920	402	5	jaeho	jaeho	PROPN
ajfa-14920	402	6	lee	lee	PROPN
ajfa-14920	402	7	.	.	PUNCT
ajfa-14920	403	1	(	(	PUNCT
ajfa-14920	403	2	2013	2013	NUM
ajfa-14920	403	3	)	)	PUNCT
ajfa-14920	403	4	.	.	PUNCT
ajfa-14920	404	1	the	the	DET
ajfa-14920	404	2	venture	venture	NOUN
ajfa-14920	404	3	capital	capital	NOUN
ajfa-14920	404	4	certification	certification	NOUN
ajfa-14920	404	5	role	role	NOUN
ajfa-14920	404	6	in	in	ADP
ajfa-14920	404	7	r&d	r&d	NOUN
ajfa-14920	404	8	:	:	PUNCT
ajfa-14920	404	9	evidence	evidence	NOUN
ajfa-14920	404	10	from	from	ADP
ajfa-14920	404	11	ipo	ipo	NOUN
ajfa-14920	404	12	underpricing	underpricing	NOUN
ajfa-14920	404	13	in	in	ADP
ajfa-14920	404	14	korea	korea	PROPN
ajfa-14920	404	15	.	.	PUNCT
ajfa-14920	405	1	pacific	pacific	PROPN
ajfa-14920	405	2	basin	basin	PROPN
ajfa-14920	405	3	finance	finance	PROPN
ajfa-14920	405	4	journal	journal	NOUN
ajfa-14920	405	5	,	,	PUNCT
ajfa-14920	405	6	23	23	NUM
ajfa-14920	405	7	.	.	PUNCT
ajfa-14920	406	1	https://doi.org/10.1016/j.pacfin.2013.01.005	https://doi.org/10.1016/j.pacfin.2013.01.005	PROPN
ajfa-14920	406	2	ji	ji	PROPN
ajfa-14920	406	3	y.	y.	PROPN
ajfa-14920	406	4	(	(	PUNCT
ajfa-14920	406	5	2015	2015	NUM
ajfa-14920	406	6	)	)	PUNCT
ajfa-14920	406	7	.	.	PUNCT
ajfa-14920	407	1	a	a	DET
ajfa-14920	407	2	review	review	NOUN
ajfa-14920	407	3	of	of	ADP
ajfa-14920	407	4	research	research	NOUN
ajfa-14920	407	5	on	on	ADP
ajfa-14920	407	6	financial	financial	ADJ
ajfa-14920	407	7	resource	resource	NOUN
ajfa-14920	407	8	mismatches	mismatch	NOUN
ajfa-14920	407	9	.	.	PUNCT
ajfa-14920	408	1	management	management	NOUN
ajfa-14920	408	2	and	and	CCONJ
ajfa-14920	408	3	management	management	NOUN
ajfa-14920	408	4	,	,	PUNCT
ajfa-14920	408	5	(	(	PUNCT
ajfa-14920	408	6	8)	8)	NUM
ajfa-14920	408	7	,	,	PUNCT
ajfa-14920	408	8	109	109	NUM
ajfa-14920	408	9	-	-	SYM
ajfa-14920	408	10	111	111	NUM
ajfa-14920	408	11	.	.	PUNCT
ajfa-14920	409	1	(	(	PUNCT
ajfa-14920	409	2	chinese	chinese	ADJ
ajfa-14920	409	3	)	)	PUNCT
ajfa-14920	409	4	king	king	NOUN
ajfa-14920	409	5	r	r	NOUN
ajfa-14920	409	6	g	g	PROPN
ajfa-14920	409	7	,	,	PUNCT
ajfa-14920	409	8	levine	levine	PROPN
ajfa-14920	409	9	r.	r.	PROPN
ajfa-14920	409	10	(	(	PUNCT
ajfa-14920	409	11	1993	1993	NUM
ajfa-14920	409	12	)	)	PUNCT
ajfa-14920	409	13	.	.	PUNCT
ajfa-14920	410	1	finance	finance	NOUN
ajfa-14920	410	2	and	and	CCONJ
ajfa-14920	410	3	growth	growth	NOUN
ajfa-14920	410	4	,	,	PUNCT
ajfa-14920	410	5	schumpeter	schumpeter	NOUN
ajfa-14920	410	6	might	might	AUX
ajfa-14920	410	7	be	be	AUX
ajfa-14920	410	8	right	right	ADJ
ajfa-14920	410	9	.	.	PUNCT
ajfa-14920	411	1	the	the	DET
ajfa-14920	411	2	quarterly	quarterly	ADJ
ajfa-14920	411	3	journal	journal	NOUN
ajfa-14920	411	4	of	of	ADP
ajfa-14920	411	5	economics	economic	NOUN
ajfa-14920	411	6	,	,	PUNCT
ajfa-14920	411	7	108(3	108(3	NUM
ajfa-14920	411	8	)	)	PUNCT
ajfa-14920	411	9	,	,	PUNCT
ajfa-14920	411	10	717	717	NUM
ajfa-14920	411	11	-	-	SYM
ajfa-14920	411	12	37	37	NUM
ajfa-14920	411	13	.	.	PUNCT
ajfa-14920	412	1	https://doi.org/10.2307/2118406	https://doi.org/10.2307/2118406	X
ajfa-14920	412	2	li	li	PROPN
ajfa-14920	412	3	j	j	PROPN
ajfa-14920	412	4	,	,	PUNCT
ajfa-14920	412	5	yan	yan	PROPN
ajfa-14920	412	6	j.	j.	PROPN
ajfa-14920	412	7	fiscal	fiscal	ADJ
ajfa-14920	412	8	decentralization	decentralization	NOUN
ajfa-14920	412	9	,	,	PUNCT
ajfa-14920	412	10	factor	factor	NOUN
ajfa-14920	412	11	price	price	NOUN
ajfa-14920	412	12	distortion	distortion	NOUN
ajfa-14920	412	13	and	and	CCONJ
ajfa-14920	412	14	excessive	excessive	ADJ
ajfa-14920	412	15	investment	investment	NOUN
ajfa-14920	412	16	by	by	ADP
ajfa-14920	412	17	stateowned	stateowne	VERB
ajfa-14920	412	18	enterprises	enterprise	NOUN
ajfa-14920	412	19	.	.	PUNCT
ajfa-14920	413	1	(	(	PUNCT
ajfa-14920	413	2	2010	2010	NUM
ajfa-14920	413	3	)	)	PUNCT
ajfa-14920	413	4	.	.	PUNCT
ajfa-14920	414	1	journal	journal	PROPN
ajfa-14920	414	2	of	of	ADP
ajfa-14920	414	3	zhongnan	zhongnan	PROPN
ajfa-14920	414	4	university	university	PROPN
ajfa-14920	414	5	of	of	ADP
ajfa-14920	414	6	economics	economic	NOUN
ajfa-14920	414	7	and	and	CCONJ
ajfa-14920	414	8	law	law	NOUN
ajfa-14920	414	9	,	,	PUNCT
ajfa-14920	414	10	1	1	NUM
ajfa-14920	414	11	,	,	PUNCT
ajfa-14920	414	12	78	78	NUM
ajfa-14920	414	13	-	-	SYM
ajfa-14920	414	14	83	83	NUM
ajfa-14920	414	15	.	.	PUNCT
ajfa-14920	415	1	(	(	PUNCT
ajfa-14920	415	2	chinese	chinese	PROPN
ajfa-14920	415	3	)	)	PUNCT
ajfa-14920	415	4	li	li	PROPN
ajfa-14920	415	5	q.	q.	PROPN
ajfa-14920	415	6	,	,	PUNCT
ajfa-14920	415	7	chen	chen	PROPN
ajfa-14920	415	8	x.	x.	PROPN
ajfa-14920	415	9	&	&	CCONJ
ajfa-14920	415	10	wang	wang	PROPN
ajfa-14920	415	11	y.	y.	PROPN
ajfa-14920	415	12	,	,	PUNCT
ajfa-14920	415	13	(	(	PUNCT
ajfa-14920	415	14	2007	2007	NUM
ajfa-14920	415	15	)	)	PUNCT
ajfa-14920	415	16	.	.	PUNCT
ajfa-14920	416	1	product	product	NOUN
ajfa-14920	416	2	market	market	NOUN
ajfa-14920	416	3	competition	competition	NOUN
ajfa-14920	416	4	,	,	PUNCT
ajfa-14920	416	5	asset	asset	NOUN
ajfa-14920	416	6	specificity	specificity	NOUN
ajfa-14920	416	7	and	and	CCONJ
ajfa-14920	416	8	capital	capital	NOUN
ajfa-14920	416	9	structure	structure	NOUN
ajfa-14920	416	10	.	.	PUNCT
ajfa-14920	417	1	financial	financial	ADJ
ajfa-14920	417	2	research	research	NOUN
ajfa-14920	417	3	,	,	PUNCT
ajfa-14920	417	4	2	2	NUM
ajfa-14920	417	5	,	,	PUNCT
ajfa-14920	417	6	46	46	NUM
ajfa-14920	417	7	-	-	SYM
ajfa-14920	417	8	56	56	NUM
ajfa-14920	417	9	.	.	PUNCT
ajfa-14920	418	1	(	(	PUNCT
ajfa-14920	418	2	chinese	chinese	ADJ
ajfa-14920	418	3	)	)	PUNCT
ajfa-14920	418	4	li	li	PROPN
ajfa-14920	419	1	q	q	PROPN
ajfa-14920	419	2	,	,	PUNCT
ajfa-14920	419	3	li	li	PROPN
ajfa-14920	419	4	j	j	PROPN
ajfa-14920	419	5	,	,	PUNCT
ajfa-14920	419	6	jiang	jiang	PROPN
ajfa-14920	419	7	c	c	PROPN
ajfa-14920	419	8	,	,	PUNCT
ajfa-14920	419	9	et	et	PROPN
ajfa-14920	419	10	al	al	PROPN
ajfa-14920	419	11	.	.	PROPN
ajfa-14920	420	1	(	(	PUNCT
ajfa-14920	420	2	2013	2013	NUM
ajfa-14920	420	3	)	)	PUNCT
ajfa-14920	420	4	.	.	PUNCT
ajfa-14920	421	1	financial	financial	ADJ
ajfa-14920	421	2	development	development	NOUN
ajfa-14920	421	3	and	and	CCONJ
ajfa-14920	421	4	regional	regional	ADJ
ajfa-14920	421	5	entity	entity	NOUN
ajfa-14920	421	6	economic	economic	ADJ
ajfa-14920	421	7	capital	capital	NOUN
ajfa-14920	421	8	allocation	allocation	NOUN
ajfa-14920	421	9	efficiency	efficiency	NOUN
ajfa-14920	421	10	-	-	PUNCT
ajfa-14920	421	11	evidence	evidence	NOUN
ajfa-14920	421	12	from	from	ADP
ajfa-14920	421	13	provincial	provincial	ADJ
ajfa-14920	421	14	industrial	industrial	ADJ
ajfa-14920	421	15	sector	sector	NOUN
ajfa-14920	421	16	data	datum	NOUN
ajfa-14920	421	17	.	.	PUNCT
ajfa-14920	422	1	economics	economic	NOUN
ajfa-14920	422	2	(	(	PUNCT
ajfa-14920	422	3	quarterly	quarterly	ADJ
ajfa-14920	422	4	)	)	PUNCT
ajfa-14920	422	5	,	,	PUNCT
ajfa-14920	422	6	(	(	PUNCT
ajfa-14920	422	7	2	2	NUM
ajfa-14920	422	8	)	)	PUNCT
ajfa-14920	422	9	,	,	PUNCT
ajfa-14920	422	10	527	527	NUM
ajfa-14920	422	11	-	-	SYM
ajfa-14920	422	12	548	548	NUM
ajfa-14920	422	13	.	.	PUNCT
ajfa-14920	423	1	(	(	PUNCT
ajfa-14920	423	2	chinese	chinese	ADJ
ajfa-14920	423	3	)	)	PUNCT
ajfa-14920	423	4	li	li	PROPN
ajfa-14920	423	5	q.	q.	PROPN
ajfa-14920	423	6	&	&	CCONJ
ajfa-14920	423	7	wang	wang	PROPN
ajfa-14920	423	8	y.	y.	PROPN
ajfa-14920	423	9	(	(	PUNCT
ajfa-14920	423	10	2006	2006	NUM
ajfa-14920	423	11	)	)	PUNCT
ajfa-14920	423	12	.	.	PUNCT
ajfa-14920	424	1	asset	asset	NOUN
ajfa-14920	424	2	specificity	specificity	NOUN
ajfa-14920	424	3	and	and	CCONJ
ajfa-14920	424	4	corporate	corporate	ADJ
ajfa-14920	424	5	capital	capital	NOUN
ajfa-14920	424	6	structure	structure	NOUN
ajfa-14920	424	7	,	,	PUNCT
ajfa-14920	424	8	empirical	empirical	ADJ
ajfa-14920	424	9	evidence	evidence	NOUN
ajfa-14920	424	10	from	from	ADP
ajfa-14920	424	11	china	china	PROPN
ajfa-14920	424	12	manufacturing	manufacturing	NOUN
ajfa-14920	424	13	companies	company	NOUN
ajfa-14920	424	14	,	,	PUNCT
ajfa-14920	424	15	accounting	accounting	NOUN
ajfa-14920	424	16	research	research	NOUN
ajfa-14920	424	17	,	,	PUNCT
ajfa-14920	424	18	7	7	NUM
ajfa-14920	424	19	,	,	PUNCT
ajfa-14920	424	20	66	66	NUM
ajfa-14920	424	21	-	-	SYM
ajfa-14920	424	22	71	71	NUM
ajfa-14920	424	23	.	.	PUNCT
ajfa-14920	425	1	(	(	PUNCT
ajfa-14920	425	2	chinese	chinese	ADJ
ajfa-14920	425	3	)	)	PUNCT
ajfa-14920	425	4	lei	lei	PROPN
ajfa-14920	425	5	x.	x.	NOUN
ajfa-14920	425	6	(	(	PUNCT
ajfa-14920	425	7	2010	2010	NUM
ajfa-14920	425	8	)	)	PUNCT
ajfa-14920	425	9	.	.	PUNCT
ajfa-14920	426	1	research	research	NOUN
ajfa-14920	426	2	on	on	ADP
ajfa-14920	426	3	the	the	DET
ajfa-14920	426	4	specificity	specificity	NOUN
ajfa-14920	426	5	of	of	ADP
ajfa-14920	426	6	corporate	corporate	ADJ
ajfa-14920	426	7	assets	asset	NOUN
ajfa-14920	426	8	in	in	ADP
ajfa-14920	426	9	china	china	PROPN
ajfa-14920	426	10	-	-	PUNCT
ajfa-14920	426	11	the	the	DET
ajfa-14920	426	12	empirical	empirical	ADJ
ajfa-14920	426	13	proof	proof	NOUN
ajfa-14920	426	14	from	from	ADP
ajfa-14920	426	15	the	the	DET
ajfa-14920	426	16	listed	list	VERB
ajfa-14920	426	17	companies	company	NOUN
ajfa-14920	426	18	in	in	ADP
ajfa-14920	426	19	the	the	DET
ajfa-14920	426	20	manufacturing	manufacturing	NOUN
ajfa-14920	426	21	industry	industry	NOUN
ajfa-14920	426	22	.	.	PUNCT
ajfa-14920	427	1	journal	journal	PROPN
ajfa-14920	427	2	of	of	ADP
ajfa-14920	427	3	zhongnan	zhongnan	PROPN
ajfa-14920	427	4	university	university	PROPN
ajfa-14920	427	5	of	of	ADP
ajfa-14920	427	6	finance	finance	NOUN
ajfa-14920	427	7	and	and	CCONJ
ajfa-14920	427	8	economics	economic	NOUN
ajfa-14920	427	9	,	,	PUNCT
ajfa-14920	427	10	1,101	1,101	NUM
ajfa-14920	427	11	-	-	SYM
ajfa-14920	427	12	106	106	NUM
ajfa-14920	427	13	.	.	PUNCT
ajfa-14920	428	1	(	(	PUNCT
ajfa-14920	428	2	chinese	chinese	ADJ
ajfa-14920	428	3	)	)	PUNCT
ajfa-14920	428	4	lin	lin	PROPN
ajfa-14920	428	5	y.	y.	PROPN
ajfa-14920	428	6	&	&	CCONJ
ajfa-14920	428	7	li	li	PROPN
ajfa-14920	428	8	z.	z.	PROPN
ajfa-14920	428	9	,	,	PUNCT
ajfa-14920	428	10	(	(	PUNCT
ajfa-14920	428	11	2004	2004	NUM
ajfa-14920	428	12	)	)	PUNCT
ajfa-14920	428	13	.	.	PUNCT
ajfa-14920	429	1	policy	policy	NOUN
ajfa-14920	429	2	burden	burden	NOUN
ajfa-14920	429	3	,	,	PUNCT
ajfa-14920	429	4	moral	moral	ADJ
ajfa-14920	429	5	hazard	hazard	NOUN
ajfa-14920	429	6	and	and	CCONJ
ajfa-14920	429	7	budget	budget	NOUN
ajfa-14920	429	8	soft	soft	ADJ
ajfa-14920	429	9	constraints	constraint	NOUN
ajfa-14920	429	10	.	.	PUNCT
ajfa-14920	430	1	economic	economic	ADJ
ajfa-14920	430	2	research	research	NOUN
ajfa-14920	430	3	,	,	PUNCT
ajfa-14920	430	4	2,17	2,17	NOUN
ajfa-14920	430	5	-	-	SYM
ajfa-14920	430	6	27	27	NUM
ajfa-14920	430	7	.	.	PUNCT
ajfa-14920	431	1	(	(	PUNCT
ajfa-14920	431	2	chinese	chinese	PROPN
ajfa-14920	431	3	)	)	PUNCT
ajfa-14920	431	4	liu	liu	PROPN
ajfa-14920	431	5	w	w	PROPN
ajfa-14920	431	6	,	,	PUNCT
ajfa-14920	431	7	zhou	zhou	PROPN
ajfa-14920	431	8	w	w	PROPN
ajfa-14920	431	9	,	,	PUNCT
ajfa-14920	431	10	zhong	zhong	PROPN
ajfa-14920	431	11	s	s	PROPN
ajfa-14920	431	12	,	,	PUNCT
ajfa-14920	431	13	et	et	PROPN
ajfa-14920	431	14	al	al	PROPN
ajfa-14920	431	15	.	.	PUNCT
ajfa-14920	431	16	(	(	PUNCT
ajfa-14920	431	17	2014	2014	NUM
ajfa-14920	431	18	)	)	PUNCT
ajfa-14920	431	19	.	.	PUNCT
ajfa-14920	432	1	government	government	NOUN
ajfa-14920	432	2	intervention	intervention	NOUN
ajfa-14920	432	3	,	,	PUNCT
ajfa-14920	432	4	capitalization	capitalization	NOUN
ajfa-14920	432	5	process	process	NOUN
ajfa-14920	432	6	and	and	CCONJ
ajfa-14920	432	7	quality	quality	NOUN
ajfa-14920	432	8	of	of	ADP
ajfa-14920	432	9	economic	economic	ADJ
ajfa-14920	432	10	growth	growth	NOUN
ajfa-14920	432	11	in	in	ADP
ajfa-14920	432	12	financial	financial	ADJ
ajfa-14920	432	13	development	development	NOUN
ajfa-14920	432	14	.	.	PUNCT
ajfa-14920	433	1	economist	economist	NOUN
ajfa-14920	433	2	,	,	PUNCT
ajfa-14920	433	3	(	(	PUNCT
ajfa-14920	433	4	3	3	NUM
ajfa-14920	433	5	)	)	PUNCT
ajfa-14920	433	6	,	,	PUNCT
ajfa-14920	433	7	64	64	NUM
ajfa-14920	433	8	-	-	SYM
ajfa-14920	433	9	73	73	NUM
ajfa-14920	433	10	.	.	PUNCT
ajfa-14920	434	1	(	(	PUNCT
ajfa-14920	434	2	chinese	chinese	PROPN
ajfa-14920	434	3	)	)	PUNCT
ajfa-14920	434	4	liu	liu	PROPN
ajfa-14920	434	5	x	x	PROPN
ajfa-14920	434	6	,	,	PUNCT
ajfa-14920	434	7	zhou	zhou	PROPN
ajfa-14920	434	8	x.	x.	PROPN
ajfa-14920	434	9	(	(	PUNCT
ajfa-14920	434	10	2011	2011	NUM
ajfa-14920	434	11	)	)	PUNCT
ajfa-14920	434	12	.	.	PUNCT
ajfa-14920	435	1	the	the	DET
ajfa-14920	435	2	test	test	NOUN
ajfa-14920	435	3	of	of	ADP
ajfa-14920	435	4	the	the	DET
ajfa-14920	435	5	relationship	relationship	NOUN
ajfa-14920	435	6	between	between	ADP
ajfa-14920	435	7	financial	financial	ADJ
ajfa-14920	435	8	resources	resource	NOUN
ajfa-14920	435	9	and	and	CCONJ
ajfa-14920	435	10	the	the	DET
ajfa-14920	435	11	real	real	ADJ
ajfa-14920	435	12	economy	economy	NOUN
ajfa-14920	435	13	-	-	PUNCT
ajfa-14920	435	14	concurrently	concurrently	ADV
ajfa-14920	435	15	on	on	ADP
ajfa-14920	435	16	the	the	DET
ajfa-14920	435	17	causes	cause	NOUN
ajfa-14920	435	18	of	of	ADP
ajfa-14920	435	19	unbalanced	unbalanced	ADJ
ajfa-14920	435	20	economic	economic	ADJ
ajfa-14920	435	21	structure	structure	NOUN
ajfa-14920	435	22	.	.	PUNCT
ajfa-14920	436	1	financial	financial	ADJ
ajfa-14920	436	2	research	research	NOUN
ajfa-14920	436	3	,	,	PUNCT
ajfa-14920	436	4	(	(	PUNCT
ajfa-14920	436	5	2	2	NUM
ajfa-14920	436	6	)	)	PUNCT
ajfa-14920	436	7	,	,	PUNCT
ajfa-14920	436	8	57	57	NUM
ajfa-14920	436	9	-	-	SYM
ajfa-14920	436	10	70	70	NUM
ajfa-14920	436	11	.	.	PUNCT
ajfa-14920	437	1	(	(	PUNCT
ajfa-14920	437	2	chinese	chinese	ADJ
ajfa-14920	437	3	)	)	PUNCT
ajfa-14920	437	4	lu	lu	PROPN
ajfa-14920	437	5	x.	x.	NOUN
ajfa-14920	437	6	(	(	PUNCT
ajfa-14920	437	7	2008	2008	NUM
ajfa-14920	437	8	)	)	PUNCT
ajfa-14920	437	9	.	.	PUNCT
ajfa-14920	438	1	mismatch	mismatch	NOUN
ajfa-14920	438	2	in	in	ADP
ajfa-14920	438	3	financial	financial	ADJ
ajfa-14920	438	4	resources	resource	NOUN
ajfa-14920	438	5	hinders	hinder	VERB
ajfa-14920	438	6	china	china	PROPN
ajfa-14920	438	7	’s	’s	PART
ajfa-14920	438	8	economic	economic	ADJ
ajfa-14920	438	9	growth	growth	NOUN
ajfa-14920	438	10	.	.	PUNCT
ajfa-14920	439	1	financial	financial	ADJ
ajfa-14920	439	2	research	research	NOUN
ajfa-14920	439	3	,	,	PUNCT
ajfa-14920	439	4	4	4	NUM
ajfa-14920	439	5	,	,	PUNCT
ajfa-14920	439	6	55	55	NUM
ajfa-14920	439	7	-	-	SYM
ajfa-14920	439	8	68	68	NUM
ajfa-14920	439	9	.	.	PUNCT
ajfa-14920	440	1	(	(	PUNCT
ajfa-14920	440	2	chinese	chinese	ADJ
ajfa-14920	440	3	)	)	PUNCT
ajfa-14920	440	4	asian	asian	ADJ
ajfa-14920	440	5	journal	journal	NOUN
ajfa-14920	440	6	of	of	ADP
ajfa-14920	440	7	finance	finance	PROPN
ajfa-14920	440	8	&	&	CCONJ
ajfa-14920	440	9	accounting	accounting	PROPN
ajfa-14920	440	10	issn	issn	PROPN
ajfa-14920	440	11	1946	1946	NUM
ajfa-14920	440	12	-	-	PUNCT
ajfa-14920	440	13	052x	052x	PROPN
ajfa-14920	440	14	2019	2019	NUM
ajfa-14920	440	15	,	,	PUNCT
ajfa-14920	440	16	vol	vol	NOUN
ajfa-14920	440	17	.	.	PROPN
ajfa-14920	440	18	11	11	NUM
ajfa-14920	440	19	,	,	PUNCT
ajfa-14920	440	20	no	no	INTJ
ajfa-14920	440	21	.	.	NOUN
ajfa-14920	440	22	2	2	NUM
ajfa-14920	440	23	ajfa.macrothink.org/	ajfa.macrothink.org/	NOUN
ajfa-14920	440	24	257	257	NUM
ajfa-14920	440	25	midrigin	midrigin	NOUN
ajfa-14920	440	26	,	,	PUNCT
ajfa-14920	440	27	virgiliu	virgiliu	NOUN
ajfa-14920	440	28	,	,	PUNCT
ajfa-14920	440	29	d	d	PROPN
ajfa-14920	440	30	xu	xu	PROPN
ajfa-14920	440	31	.	.	PUNCT
ajfa-14920	441	1	(	(	PUNCT
ajfa-14920	441	2	2014	2014	NUM
ajfa-14920	441	3	)	)	PUNCT
ajfa-14920	441	4	.	.	PUNCT
ajfa-14920	442	1	finance	finance	NOUN
ajfa-14920	442	2	and	and	CCONJ
ajfa-14920	442	3	misallocation	misallocation	NOUN
ajfa-14920	442	4	,	,	PUNCT
ajfa-14920	442	5	evidence	evidence	NOUN
ajfa-14920	442	6	from	from	ADP
ajfa-14920	442	7	plant	plant	NOUN
ajfa-14920	442	8	-	-	PUNCT
ajfa-14920	442	9	level	level	NOUN
ajfa-14920	442	10	data	datum	NOUN
ajfa-14920	442	11	.	.	PUNCT
ajfa-14920	443	1	american	american	PROPN
ajfa-14920	443	2	economic	economic	PROPN
ajfa-14920	443	3	review	review	PROPN
ajfa-14920	443	4	,	,	PUNCT
ajfa-14920	443	5	104(2	104(2	NUM
ajfa-14920	443	6	)	)	PUNCT
ajfa-14920	443	7	,	,	PUNCT
ajfa-14920	443	8	422	422	NUM
ajfa-14920	443	9	-	-	SYM
ajfa-14920	443	10	458	458	NUM
ajfa-14920	443	11	.	.	PUNCT
ajfa-14920	444	1	https://doi.org/10.1257/aer.104.2.422	https://doi.org/10.1257/aer.104.2.422	ADJ
ajfa-14920	444	2	minkler	minkler	NOUN
ajfa-14920	444	3	,	,	PUNCT
ajfa-14920	444	4	l.	l.	PROPN
ajfa-14920	444	5	,	,	PUNCT
ajfa-14920	444	6	&	&	CCONJ
ajfa-14920	444	7	j.	j.	PROPN
ajfa-14920	444	8	vilasuso	vilasuso	PROPN
ajfa-14920	444	9	.	.	PUNCT
ajfa-14920	445	1	(	(	PUNCT
ajfa-14920	445	2	2001	2001	NUM
ajfa-14920	445	3	)	)	PUNCT
ajfa-14920	445	4	.	.	PUNCT
ajfa-14920	446	1	agency	agency	NOUN
ajfa-14920	446	2	costs	cost	NOUN
ajfa-14920	446	3	,	,	PUNCT
ajfa-14920	446	4	asset	asset	NOUN
ajfa-14920	446	5	specificity	specificity	NOUN
ajfa-14920	446	6	and	and	CCONJ
ajfa-14920	446	7	capital	capital	NOUN
ajfa-14920	446	8	structure	structure	NOUN
ajfa-14920	446	9	of	of	ADP
ajfa-14920	446	10	the	the	DET
ajfa-14920	446	11	firm	firm	NOUN
ajfa-14920	446	12	.	.	PUNCT
ajfa-14920	447	1	journal	journal	PROPN
ajfa-14920	447	2	of	of	ADP
ajfa-14920	447	3	economic	economic	ADJ
ajfa-14920	447	4	behavior	behavior	NOUN
ajfa-14920	447	5	and	and	CCONJ
ajfa-14920	447	6	organization	organization	NOUN
ajfa-14920	447	7	,	,	PUNCT
ajfa-14920	447	8	44(1	44(1	PROPN
ajfa-14920	447	9	)	)	PUNCT
ajfa-14920	447	10	,	,	PUNCT
ajfa-14920	447	11	55	55	NUM
ajfa-14920	447	12	-	-	SYM
ajfa-14920	447	13	69	69	NUM
ajfa-14920	447	14	.	.	PUNCT
ajfa-14920	448	1	https://doi.org/10.1016/s0167-2681(00)00151-7	https://doi.org/10.1016/s0167-2681(00)00151-7	PROPN
ajfa-14920	448	2	mocnik	mocnik	PROPN
ajfa-14920	448	3	,	,	PUNCT
ajfa-14920	448	4	d.	d.	PROPN
ajfa-14920	448	5	(	(	PUNCT
ajfa-14920	448	6	2001	2001	NUM
ajfa-14920	448	7	)	)	PUNCT
ajfa-14920	448	8	.	.	PUNCT
ajfa-14920	449	1	asset	asset	NOUN
ajfa-14920	449	2	specificity	specificity	NOUN
ajfa-14920	449	3	and	and	CCONJ
ajfa-14920	449	4	a	a	DET
ajfa-14920	449	5	firm	firm	NOUN
ajfa-14920	449	6	’s	’s	PART
ajfa-14920	449	7	borrowing	borrowing	NOUN
ajfa-14920	449	8	ability	ability	NOUN
ajfa-14920	449	9	,	,	PUNCT
ajfa-14920	449	10	an	an	DET
ajfa-14920	449	11	empirical	empirical	ADJ
ajfa-14920	449	12	analysis	analysis	NOUN
ajfa-14920	449	13	of	of	ADP
ajfa-14920	449	14	manufacturing	manufacturing	NOUN
ajfa-14920	449	15	firms	firm	NOUN
ajfa-14920	449	16	.	.	PUNCT
ajfa-14920	450	1	journal	journal	NOUN
ajfa-14920	450	2	of	of	ADP
ajfa-14920	450	3	economic	economic	ADJ
ajfa-14920	450	4	behavior	behavior	NOUN
ajfa-14920	450	5	and	and	CCONJ
ajfa-14920	450	6	organization	organization	NOUN
ajfa-14920	450	7	,	,	PUNCT
ajfa-14920	450	8	45(1	45(1	NOUN
ajfa-14920	450	9	)	)	PUNCT
ajfa-14920	450	10	,	,	PUNCT
ajfa-14920	450	11	69	69	NUM
ajfa-14920	450	12	-	-	SYM
ajfa-14920	450	13	81	81	NUM
ajfa-14920	450	14	.	.	PUNCT
ajfa-14920	451	1	https://doi.org/10.1016/s0167-2681(00)00166-9	https://doi.org/10.1016/s0167-2681(00)00166-9	PROPN
ajfa-14920	451	2	moll	moll	PROPN
ajfa-14920	451	3	,	,	PUNCT
ajfa-14920	451	4	benjamin	benjamin	PROPN
ajfa-14920	451	5	.	.	PROPN
ajfa-14920	451	6	(	(	PUNCT
ajfa-14920	451	7	2014	2014	NUM
ajfa-14920	451	8	)	)	PUNCT
ajfa-14920	451	9	.	.	PUNCT
ajfa-14920	452	1	productivity	productivity	NOUN
ajfa-14920	452	2	losses	loss	NOUN
ajfa-14920	452	3	from	from	ADP
ajfa-14920	452	4	financial	financial	ADJ
ajfa-14920	452	5	frictions	friction	NOUN
ajfa-14920	452	6	,	,	PUNCT
ajfa-14920	452	7	can	can	AUX
ajfa-14920	452	8	self	self	NOUN
ajfa-14920	452	9	financing	financing	NOUN
ajfa-14920	452	10	undo	undo	ADJ
ajfa-14920	452	11	capital	capital	NOUN
ajfa-14920	452	12	misallocation	misallocation	NOUN
ajfa-14920	452	13	?	?	PUNCT
ajfa-14920	453	1	the	the	DET
ajfa-14920	453	2	american	american	PROPN
ajfa-14920	453	3	economic	economic	PROPN
ajfa-14920	453	4	review	review	PROPN
ajfa-14920	453	5	,	,	PUNCT
ajfa-14920	453	6	104(10	104(10	NUM
ajfa-14920	453	7	)	)	PUNCT
ajfa-14920	453	8	.	.	PUNCT
ajfa-14920	454	1	3186	3186	NUM
ajfa-14920	454	2	-	-	SYM
ajfa-14920	454	3	3221	3221	NUM
ajfa-14920	454	4	.	.	PUNCT
ajfa-14920	455	1	https://doi.org/10.1257/aer.104.10.3186	https://doi.org/10.1257/aer.104.10.3186	PROPN
ajfa-14920	455	2	morales	morale	NOUN
ajfa-14920	455	3	,	,	PUNCT
ajfa-14920	455	4	marí	marí	PROPN
ajfa-14920	455	5	f	f	PROPN
ajfa-14920	455	6	a.	a.	NOUN
ajfa-14920	455	7	(	(	PUNCT
ajfa-14920	455	8	2001	2001	NUM
ajfa-14920	455	9	)	)	PUNCT
ajfa-14920	455	10	.	.	PUNCT
ajfa-14920	456	1	financial	financial	ADJ
ajfa-14920	456	2	intermediation	intermediation	NOUN
ajfa-14920	456	3	in	in	ADP
ajfa-14920	456	4	a	a	DET
ajfa-14920	456	5	model	model	NOUN
ajfa-14920	456	6	of	of	ADP
ajfa-14920	456	7	growth	growth	NOUN
ajfa-14920	456	8	through	through	ADP
ajfa-14920	456	9	creative	creative	ADJ
ajfa-14920	456	10	destruction	destruction	NOUN
ajfa-14920	456	11	.	.	PUNCT
ajfa-14920	457	1	macroeconomic	macroeconomic	ADJ
ajfa-14920	457	2	dynamics	dynamic	NOUN
ajfa-14920	457	3	,	,	PUNCT
ajfa-14920	457	4	7(7	7(7	NUM
ajfa-14920	457	5	)	)	PUNCT
ajfa-14920	457	6	,	,	PUNCT
ajfa-14920	457	7	363	363	NUM
ajfa-14920	457	8	-	-	SYM
ajfa-14920	457	9	393	393	NUM
ajfa-14920	457	10	.	.	PUNCT
ajfa-14920	458	1	https://doi.org/10.1017/s1365100502020138	https://doi.org/10.1017/s1365100502020138	NUM
ajfa-14920	458	2	saint	saint	PROPN
ajfa-14920	458	3	-	-	PUNCT
ajfa-14920	458	4	paul	paul	PROPN
ajfa-14920	458	5	g.	g.	PROPN
ajfa-14920	458	6	(	(	PUNCT
ajfa-14920	458	7	1992	1992	NUM
ajfa-14920	458	8	)	)	PUNCT
ajfa-14920	458	9	.	.	PUNCT
ajfa-14920	459	1	technological	technological	ADJ
ajfa-14920	459	2	choice	choice	NOUN
ajfa-14920	459	3	,	,	PUNCT
ajfa-14920	459	4	financial	financial	ADJ
ajfa-14920	459	5	markets	market	NOUN
ajfa-14920	459	6	and	and	CCONJ
ajfa-14920	459	7	economic	economic	ADJ
ajfa-14920	459	8	development	development	NOUN
ajfa-14920	459	9	.	.	PUNCT
ajfa-14920	460	1	european	european	PROPN
ajfa-14920	460	2	economic	economic	PROPN
ajfa-14920	460	3	review	review	PROPN
ajfa-14920	460	4	,	,	PUNCT
ajfa-14920	460	5	36(4	36(4	NUM
ajfa-14920	460	6	)	)	PUNCT
ajfa-14920	460	7	,	,	PUNCT
ajfa-14920	460	8	763	763	NUM
ajfa-14920	460	9	-	-	SYM
ajfa-14920	460	10	781	781	NUM
ajfa-14920	460	11	.	.	PUNCT
ajfa-14920	461	1	https://doi.org/10.1016/0014-2921(92)90056-3	https://doi.org/10.1016/0014-2921(92)90056-3	PROPN
ajfa-14920	461	2	shao	shao	PROPN
ajfa-14920	461	3	t.	t.	PROPN
ajfa-14920	461	4	(	(	PUNCT
ajfa-14920	461	5	2010	2010	NUM
ajfa-14920	461	6	)	)	PUNCT
ajfa-14920	461	7	.	.	PUNCT
ajfa-14920	462	1	financial	financial	ADJ
ajfa-14920	462	2	mismatch	mismatch	NOUN
ajfa-14920	462	3	,	,	PUNCT
ajfa-14920	462	4	ownership	ownership	NOUN
ajfa-14920	462	5	structure	structure	NOUN
ajfa-14920	462	6	and	and	CCONJ
ajfa-14920	462	7	return	return	NOUN
ajfa-14920	462	8	on	on	ADP
ajfa-14920	462	9	capital	capital	NOUN
ajfa-14920	462	10	,	,	PUNCT
ajfa-14920	462	11	from	from	ADP
ajfa-14920	462	12	19992007	19992007	NUM
ajfa-14920	462	13	china	china	PROPN
ajfa-14920	462	14	’s	’s	PART
ajfa-14920	462	15	industrial	industrial	ADJ
ajfa-14920	462	16	enterprise	enterprise	NOUN
ajfa-14920	462	17	research	research	NOUN
ajfa-14920	462	18	.	.	PUNCT
ajfa-14920	463	1	financial	financial	ADJ
ajfa-14920	463	2	research	research	NOUN
ajfa-14920	463	3	,	,	PUNCT
ajfa-14920	463	4	9	9	NUM
ajfa-14920	463	5	,	,	PUNCT
ajfa-14920	463	6	51	51	NUM
ajfa-14920	463	7	-	-	SYM
ajfa-14920	463	8	68	68	NUM
ajfa-14920	463	9	.	.	PUNCT
ajfa-14920	464	1	(	(	PUNCT
ajfa-14920	464	2	chinese	chinese	ADJ
ajfa-14920	464	3	)	)	PUNCT
ajfa-14920	464	4	shao	shao	PROPN
ajfa-14920	464	5	t.	t.	PROPN
ajfa-14920	464	6	(	(	PUNCT
ajfa-14920	464	7	2010	2010	NUM
ajfa-14920	464	8	)	)	PUNCT
ajfa-14920	464	9	.	.	PUNCT
ajfa-14920	465	1	financial	financial	ADJ
ajfa-14920	465	2	mismatch	mismatch	NOUN
ajfa-14920	465	3	,	,	PUNCT
ajfa-14920	465	4	ownership	ownership	NOUN
ajfa-14920	465	5	structure	structure	NOUN
ajfa-14920	465	6	,	,	PUNCT
ajfa-14920	465	7	and	and	CCONJ
ajfa-14920	465	8	return	return	VERB
ajfa-14920	465	9	on	on	ADP
ajfa-14920	465	10	capital	capital	NOUN
ajfa-14920	465	11	,	,	PUNCT
ajfa-14920	465	12	a	a	DET
ajfa-14920	465	13	study	study	NOUN
ajfa-14920	465	14	of	of	ADP
ajfa-14920	465	15	industrial	industrial	ADJ
ajfa-14920	465	16	enterprises	enterprise	NOUN
ajfa-14920	465	17	in	in	ADP
ajfa-14920	465	18	china	china	PROPN
ajfa-14920	465	19	from	from	ADP
ajfa-14920	465	20	1999	1999	NUM
ajfa-14920	465	21	to	to	ADP
ajfa-14920	465	22	2007	2007	NUM
ajfa-14920	465	23	.	.	PUNCT
ajfa-14920	466	1	financial	financial	ADJ
ajfa-14920	466	2	research	research	NOUN
ajfa-14920	466	3	,	,	PUNCT
ajfa-14920	466	4	(	(	PUNCT
ajfa-14920	466	5	9	9	NUM
ajfa-14920	466	6	)	)	PUNCT
ajfa-14920	466	7	,	,	PUNCT
ajfa-14920	466	8	51	51	NUM
ajfa-14920	466	9	-	-	SYM
ajfa-14920	466	10	68	68	NUM
ajfa-14920	466	11	.	.	PUNCT
ajfa-14920	467	1	(	(	PUNCT
ajfa-14920	467	2	chinese	chinese	ADJ
ajfa-14920	467	3	)	)	PUNCT
ajfa-14920	467	4	sun	sun	PROPN
ajfa-14920	467	5	g	g	NOUN
ajfa-14920	467	6	,	,	PUNCT
ajfa-14920	467	7	song	song	NOUN
ajfa-14920	467	8	x.	x.	NOUN
ajfa-14920	467	9	(	(	PUNCT
ajfa-14920	467	10	2016	2016	NUM
ajfa-14920	467	11	)	)	PUNCT
ajfa-14920	467	12	.	.	PUNCT
ajfa-14920	468	1	financial	financial	ADJ
ajfa-14920	468	2	liberalization	liberalization	NOUN
ajfa-14920	468	3	,	,	PUNCT
ajfa-14920	468	4	government	government	NOUN
ajfa-14920	468	5	intervention	intervention	NOUN
ajfa-14920	468	6	mechanism	mechanism	NOUN
ajfa-14920	468	7	and	and	CCONJ
ajfa-14920	468	8	enterprise	enterprise	NOUN
ajfa-14920	468	9	innovation	innovation	NOUN
ajfa-14920	468	10	investment	investment	NOUN
ajfa-14920	468	11	efficiency	efficiency	NOUN
ajfa-14920	468	12	.	.	PUNCT
ajfa-14920	469	1	financial	financial	ADJ
ajfa-14920	469	2	and	and	CCONJ
ajfa-14920	469	3	economics	economic	NOUN
ajfa-14920	469	4	,	,	PUNCT
ajfa-14920	469	5	(	(	PUNCT
ajfa-14920	469	6	2	2	NUM
ajfa-14920	469	7	)	)	PUNCT
ajfa-14920	469	8	,	,	PUNCT
ajfa-14920	469	9	47	47	NUM
ajfa-14920	469	10	-	-	SYM
ajfa-14920	469	11	55	55	NUM
ajfa-14920	469	12	.	.	PUNCT
ajfa-14920	470	1	(	(	PUNCT
ajfa-14920	470	2	chinese	chinese	ADJ
ajfa-14920	470	3	)	)	PUNCT
ajfa-14920	470	4	sun	sun	PROPN
ajfa-14920	470	5	t	t	PROPN
ajfa-14920	470	6	,	,	PUNCT
ajfa-14920	470	7	wen	wen	PROPN
ajfa-14920	470	8	j	j	PROPN
ajfa-14920	470	9	,	,	PUNCT
ajfa-14920	470	10	qin	qin	PROPN
ajfa-14920	470	11	j.	j.	PROPN
ajfa-14920	470	12	(	(	PUNCT
ajfa-14920	470	13	2011	2011	NUM
ajfa-14920	470	14	)	)	PUNCT
ajfa-14920	470	15	.	.	PUNCT
ajfa-14920	471	1	financial	financial	ADJ
ajfa-14920	471	2	intermediary	intermediary	NOUN
ajfa-14920	471	3	development	development	NOUN
ajfa-14920	471	4	,	,	PUNCT
ajfa-14920	471	5	government	government	NOUN
ajfa-14920	471	6	intervention	intervention	NOUN
ajfa-14920	471	7	and	and	CCONJ
ajfa-14920	471	8	enterprise	enterprise	NOUN
ajfa-14920	471	9	technology	technology	NOUN
ajfa-14920	471	10	innovation	innovation	NOUN
ajfa-14920	471	11	-	-	PUNCT
ajfa-14920	471	12	evidence	evidence	NOUN
ajfa-14920	471	13	from	from	ADP
ajfa-14920	471	14	china	china	PROPN
ajfa-14920	471	15	’s	’s	PART
ajfa-14920	471	16	transitional	transitional	ADJ
ajfa-14920	471	17	economy	economy	NOUN
ajfa-14920	471	18	.	.	PUNCT
ajfa-14920	472	1	scientific	scientific	ADJ
ajfa-14920	472	2	and	and	CCONJ
ajfa-14920	472	3	technological	technological	ADJ
ajfa-14920	472	4	progress	progress	NOUN
ajfa-14920	472	5	and	and	CCONJ
ajfa-14920	472	6	countermeasures	countermeasure	NOUN
ajfa-14920	472	7	,	,	PUNCT
ajfa-14920	472	8	(	(	PUNCT
ajfa-14920	472	9	20	20	NUM
ajfa-14920	472	10	)	)	PUNCT
ajfa-14920	472	11	,	,	PUNCT
ajfa-14920	472	12	75	75	NUM
ajfa-14920	472	13	-	-	PUNCT
ajfa-14920	472	14	79.(chinese	79.(chinese	NUM
ajfa-14920	472	15	)	)	PUNCT
ajfa-14920	472	16	wang	wang	PROPN
ajfa-14920	472	17	y.	y.	PROPN
ajfa-14920	472	18	&	&	CCONJ
ajfa-14920	472	19	fan	fan	PROPN
ajfa-14920	472	20	m.	m.	PROPN
ajfa-14920	472	21	,	,	PUNCT
ajfa-14920	472	22	(	(	PUNCT
ajfa-14920	472	23	2004	2004	NUM
ajfa-14920	472	24	)	)	PUNCT
ajfa-14920	472	25	.	.	PUNCT
ajfa-14920	473	1	dynamic	dynamic	ADJ
ajfa-14920	473	2	analysis	analysis	NOUN
ajfa-14920	473	3	of	of	ADP
ajfa-14920	473	4	capital	capital	NOUN
ajfa-14920	473	5	structure	structure	NOUN
ajfa-14920	473	6	from	from	ADP
ajfa-14920	473	7	the	the	DET
ajfa-14920	473	8	perspective	perspective	NOUN
ajfa-14920	473	9	of	of	ADP
ajfa-14920	473	10	asset	asset	NOUN
ajfa-14920	473	11	specificity	specificity	NOUN
ajfa-14920	473	12	.	.	PUNCT
ajfa-14920	474	1	china	china	PROPN
ajfa-14920	474	2	’s	’s	PART
ajfa-14920	474	3	industrial	industrial	ADJ
ajfa-14920	474	4	economy	economy	NOUN
ajfa-14920	474	5	,	,	PUNCT
ajfa-14920	474	6	1,93	1,93	NUM
ajfa-14920	474	7	-	-	SYM
ajfa-14920	474	8	98	98	NUM
ajfa-14920	474	9	.	.	PUNCT
ajfa-14920	475	1	(	(	PUNCT
ajfa-14920	475	2	chinese	chinese	ADJ
ajfa-14920	475	3	)	)	PUNCT
ajfa-14920	475	4	williamson	williamson	PROPN
ajfa-14920	475	5	,	,	PUNCT
ajfa-14920	475	6	o.	o.	PROPN
ajfa-14920	475	7	(	(	PUNCT
ajfa-14920	475	8	1979	1979	NUM
ajfa-14920	475	9	)	)	PUNCT
ajfa-14920	475	10	.	.	PUNCT
ajfa-14920	476	1	transaction	transaction	NOUN
ajfa-14920	476	2	cost	cost	VERB
ajfa-14920	476	3	economics	economic	NOUN
ajfa-14920	476	4	,	,	PUNCT
ajfa-14920	476	5	the	the	DET
ajfa-14920	476	6	government	government	NOUN
ajfa-14920	476	7	of	of	ADP
ajfa-14920	476	8	contractual	contractual	ADJ
ajfa-14920	476	9	relations	relation	NOUN
ajfa-14920	476	10	.	.	PUNCT
ajfa-14920	477	1	journal	journal	PROPN
ajfa-14920	477	2	of	of	ADP
ajfa-14920	477	3	law	law	NOUN
ajfa-14920	477	4	and	and	CCONJ
ajfa-14920	477	5	economics	economic	NOUN
ajfa-14920	477	6	,	,	PUNCT
ajfa-14920	477	7	22(2	22(2	NUM
ajfa-14920	477	8	)	)	PUNCT
ajfa-14920	477	9	,	,	PUNCT
ajfa-14920	477	10	233	233	NUM
ajfa-14920	477	11	-	-	SYM
ajfa-14920	477	12	261	261	NUM
ajfa-14920	477	13	.	.	PUNCT
ajfa-14920	477	14	https://doi.org/10.1086/466942	https://doi.org/10.1086/466942	NOUN
ajfa-14920	477	15	williamson	williamson	PROPN
ajfa-14920	477	16	,	,	PUNCT
ajfa-14920	477	17	o.	o.	PROPN
ajfa-14920	477	18	(	(	PUNCT
ajfa-14920	477	19	1988	1988	NUM
ajfa-14920	477	20	)	)	PUNCT
ajfa-14920	477	21	.	.	PUNCT
ajfa-14920	478	1	corporate	corporate	ADJ
ajfa-14920	478	2	finance	finance	NOUN
ajfa-14920	478	3	and	and	CCONJ
ajfa-14920	478	4	corporate	corporate	ADJ
ajfa-14920	478	5	governance	governance	NOUN
ajfa-14920	478	6	.	.	PUNCT
ajfa-14920	479	1	the	the	DET
ajfa-14920	479	2	journal	journal	PROPN
ajfa-14920	479	3	of	of	ADP
ajfa-14920	479	4	finance	finance	NOUN
ajfa-14920	479	5	,	,	PUNCT
ajfa-14920	479	6	43(3	43(3	NUM
ajfa-14920	479	7	)	)	PUNCT
ajfa-14920	479	8	,	,	PUNCT
ajfa-14920	479	9	567	567	NUM
ajfa-14920	479	10	-	-	SYM
ajfa-14920	479	11	591	591	NUM
ajfa-14920	479	12	.	.	PUNCT
ajfa-14920	480	1	https://doi.org/10.1111/j.1540-6261.1988.tb04592.x	https://doi.org/10.1111/j.1540-6261.1988.tb04592.x	PROPN
ajfa-14920	480	2	xiao	xiao	PROPN
ajfa-14920	480	3	z.	z.	PROPN
ajfa-14920	480	4	(	(	PUNCT
ajfa-14920	480	5	2005	2005	NUM
ajfa-14920	480	6	)	)	PUNCT
ajfa-14920	480	7	.	.	PUNCT
ajfa-14920	481	1	empirical	empirical	ADJ
ajfa-14920	481	2	study	study	NOUN
ajfa-14920	481	3	on	on	ADP
ajfa-14920	481	4	the	the	DET
ajfa-14920	481	5	interaction	interaction	NOUN
ajfa-14920	481	6	between	between	ADP
ajfa-14920	481	7	capital	capital	NOUN
ajfa-14920	481	8	structure	structure	NOUN
ajfa-14920	481	9	and	and	CCONJ
ajfa-14920	481	10	corporate	corporate	ADJ
ajfa-14920	481	11	performance	performance	NOUN
ajfa-14920	481	12	of	of	ADP
ajfa-14920	481	13	listed	list	VERB
ajfa-14920	481	14	companies	company	NOUN
ajfa-14920	481	15	.	.	PUNCT
ajfa-14920	482	1	management	management	NOUN
ajfa-14920	482	2	science	science	NOUN
ajfa-14920	482	3	,	,	PUNCT
ajfa-14920	482	4	3,16	3,16	NUM
ajfa-14920	482	5	-	-	SYM
ajfa-14920	482	6	22	22	NUM
ajfa-14920	482	7	.	.	PUNCT
ajfa-14920	483	1	(	(	PUNCT
ajfa-14920	483	2	chinese	chinese	PROPN
ajfa-14920	483	3	)	)	PUNCT
ajfa-14920	483	4	yang	yang	PROPN
ajfa-14920	483	5	w	w	PROPN
ajfa-14920	483	6	,	,	PUNCT
ajfa-14920	483	7	wang	wang	PROPN
ajfa-14920	483	8	p	p	PROPN
ajfa-14920	483	9	,	,	PUNCT
ajfa-14920	483	10	li	li	PROPN
ajfa-14920	483	11	y	y	PROPN
ajfa-14920	483	12	,	,	PUNCT
ajfa-14920	483	13	et	et	PROPN
ajfa-14920	483	14	al	al	PROPN
ajfa-14920	483	15	.	.	PUNCT
ajfa-14920	483	16	(	(	PUNCT
ajfa-14920	483	17	2015	2015	NUM
ajfa-14920	483	18	)	)	PUNCT
ajfa-14920	483	19	.	.	PUNCT
ajfa-14920	484	1	research	research	NOUN
ajfa-14920	484	2	on	on	ADP
ajfa-14920	484	3	the	the	DET
ajfa-14920	484	4	impact	impact	NOUN
ajfa-14920	484	5	of	of	ADP
ajfa-14920	484	6	financial	financial	ADJ
ajfa-14920	484	7	subsidies	subsidy	NOUN
ajfa-14920	484	8	on	on	ADP
ajfa-14920	484	9	r&d	r&d	NOUN
ajfa-14920	484	10	investment	investment	NOUN
ajfa-14920	484	11	and	and	CCONJ
ajfa-14920	484	12	performance	performance	NOUN
ajfa-14920	484	13	of	of	ADP
ajfa-14920	484	14	enterprises	enterprise	NOUN
ajfa-14920	484	15	-	-	PUNCT
ajfa-14920	484	16	evidence	evidence	NOUN
ajfa-14920	484	17	from	from	ADP
ajfa-14920	484	18	chinese	chinese	ADJ
ajfa-14920	484	19	gem	gem	NOUN
ajfa-14920	484	20	listed	list	VERB
ajfa-14920	484	21	companies	company	NOUN
ajfa-14920	484	22	.	.	PUNCT
ajfa-14920	485	1	financial	financial	ADJ
ajfa-14920	485	2	and	and	CCONJ
ajfa-14920	485	3	economics	economic	NOUN
ajfa-14920	485	4	,	,	PUNCT
ajfa-14920	485	5	(	(	PUNCT
ajfa-14920	485	6	1	1	NUM
ajfa-14920	485	7	)	)	PUNCT
ajfa-14920	485	8	,	,	PUNCT
ajfa-14920	485	9	24	24	NUM
ajfa-14920	485	10	-	-	SYM
ajfa-14920	485	11	31	31	NUM
ajfa-14920	485	12	.	.	PUNCT
ajfa-14920	486	1	(	(	PUNCT
ajfa-14920	486	2	chinese	chinese	ADJ
ajfa-14920	486	3	)	)	PUNCT
ajfa-14920	486	4	asian	asian	ADJ
ajfa-14920	486	5	journal	journal	NOUN
ajfa-14920	486	6	of	of	ADP
ajfa-14920	486	7	finance	finance	PROPN
ajfa-14920	486	8	&	&	CCONJ
ajfa-14920	486	9	accounting	accounting	PROPN
ajfa-14920	486	10	issn	issn	PROPN
ajfa-14920	486	11	1946	1946	NUM
ajfa-14920	486	12	-	-	PUNCT
ajfa-14920	486	13	052x	052x	PROPN
ajfa-14920	486	14	2019	2019	NUM
ajfa-14920	486	15	,	,	PUNCT
ajfa-14920	486	16	vol	vol	NOUN
ajfa-14920	486	17	.	.	PROPN
ajfa-14920	486	18	11	11	NUM
ajfa-14920	486	19	,	,	PUNCT
ajfa-14920	486	20	no	no	INTJ
ajfa-14920	486	21	.	.	NOUN
ajfa-14920	486	22	2	2	NUM
ajfa-14920	486	23	ajfa.macrothink.org/	ajfa.macrothink.org/	NOUN
ajfa-14920	486	24	258	258	NUM
ajfa-14920	486	25	yao	yao	NOUN
ajfa-14920	486	26	y	y	PROPN
ajfa-14920	486	27	,	,	PUNCT
ajfa-14920	486	28	dong	dong	PROPN
ajfa-14920	486	29	g.	g.	PROPN
ajfa-14920	486	30	(	(	PUNCT
ajfa-14920	486	31	2015	2015	NUM
ajfa-14920	486	32	)	)	PUNCT
ajfa-14920	486	33	.	.	PUNCT
ajfa-14920	487	1	mitigation	mitigation	NOUN
ajfa-14920	487	2	of	of	ADP
ajfa-14920	487	3	sme	sme	NOUN
ajfa-14920	487	4	financing	financing	NOUN
ajfa-14920	487	5	constraints	constraint	NOUN
ajfa-14920	487	6	,	,	PUNCT
ajfa-14920	487	7	is	be	AUX
ajfa-14920	487	8	the	the	DET
ajfa-14920	487	9	level	level	NOUN
ajfa-14920	487	10	of	of	ADP
ajfa-14920	487	11	financial	financial	ADJ
ajfa-14920	487	12	development	development	NOUN
ajfa-14920	487	13	important	important	ADJ
ajfa-14920	487	14	or	or	CCONJ
ajfa-14920	487	15	the	the	DET
ajfa-14920	487	16	financial	financial	ADJ
ajfa-14920	487	17	structure	structure	NOUN
ajfa-14920	487	18	important	important	ADJ
ajfa-14920	487	19	?	?	PUNCT
ajfa-14920	488	1	empirical	empirical	ADJ
ajfa-14920	488	2	evidence	evidence	NOUN
ajfa-14920	488	3	from	from	ADP
ajfa-14920	488	4	sme	sme	PROPN
ajfa-14920	488	5	board	board	PROPN
ajfa-14920	488	6	listed	list	VERB
ajfa-14920	488	7	companies	company	NOUN
ajfa-14920	488	8	.	.	PUNCT
ajfa-14920	489	1	financial	financial	ADJ
ajfa-14920	489	2	research	research	NOUN
ajfa-14920	489	3	,	,	PUNCT
ajfa-14920	489	4	(	(	PUNCT
ajfa-14920	489	5	4	4	NUM
ajfa-14920	489	6	)	)	PUNCT
ajfa-14920	489	7	,	,	PUNCT
ajfa-14920	489	8	148	148	NUM
ajfa-14920	489	9	-	-	SYM
ajfa-14920	489	10	161	161	NUM
ajfa-14920	489	11	.	.	PUNCT
ajfa-14920	490	1	(	(	PUNCT
ajfa-14920	490	2	chinese	chinese	PROPN
ajfa-14920	490	3	)	)	PUNCT
ajfa-14920	490	4	yu	yu	PROPN
ajfa-14920	490	5	d.	d.	PROPN
ajfa-14920	490	6	(	(	PUNCT
ajfa-14920	490	7	2003	2003	NUM
ajfa-14920	490	8	)	)	PUNCT
ajfa-14920	490	9	.	.	PUNCT
ajfa-14920	491	1	capital	capital	NOUN
ajfa-14920	491	2	structure	structure	NOUN
ajfa-14920	491	3	,	,	PUNCT
ajfa-14920	491	4	creditor	creditor	NOUN
ajfa-14920	491	5	governance	governance	NOUN
ajfa-14920	491	6	and	and	CCONJ
ajfa-14920	491	7	corporate	corporate	ADJ
ajfa-14920	491	8	performance	performance	NOUN
ajfa-14920	491	9	,	,	PUNCT
ajfa-14920	491	10	an	an	DET
ajfa-14920	491	11	empirical	empirical	ADJ
ajfa-14920	491	12	analysis	analysis	NOUN
ajfa-14920	491	13	.	.	PUNCT
ajfa-14920	492	1	china	china	PROPN
ajfa-14920	492	2	’s	’s	PART
ajfa-14920	492	3	industrial	industrial	ADJ
ajfa-14920	492	4	economy	economy	NOUN
ajfa-14920	492	5	,	,	PUNCT
ajfa-14920	492	6	1	1	NUM
ajfa-14920	492	7	,	,	PUNCT
ajfa-14920	492	8	87	87	NUM
ajfa-14920	492	9	-	-	SYM
ajfa-14920	492	10	94	94	NUM
ajfa-14920	492	11	.	.	PUNCT
ajfa-14920	493	1	(	(	PUNCT
ajfa-14920	493	2	chinese	chinese	PROPN
ajfa-14920	493	3	)	)	PUNCT
ajfa-14920	493	4	zhang	zhang	PROPN
ajfa-14920	493	5	b	b	PROPN
ajfa-14920	493	6	,	,	PUNCT
ajfa-14920	493	7	huang	huang	PROPN
ajfa-14920	493	8	h.	h.	PROPN
ajfa-14920	493	9	(	(	PUNCT
ajfa-14920	493	10	2009	2009	NUM
ajfa-14920	493	11	)	)	PUNCT
ajfa-14920	493	12	.	.	PUNCT
ajfa-14920	494	1	research	research	NOUN
ajfa-14920	494	2	on	on	ADP
ajfa-14920	494	3	r&d	r&d	NOUN
ajfa-14920	494	4	behavior	behavior	NOUN
ajfa-14920	494	5	of	of	ADP
ajfa-14920	494	6	enterprises	enterprise	NOUN
ajfa-14920	494	7	considering	consider	VERB
ajfa-14920	494	8	government	government	NOUN
ajfa-14920	494	9	intervention	intervention	NOUN
ajfa-14920	494	10	.	.	PUNCT
ajfa-14920	495	1	journal	journal	PROPN
ajfa-14920	495	2	of	of	ADP
ajfa-14920	495	3	finance	finance	NOUN
ajfa-14920	495	4	and	and	CCONJ
ajfa-14920	495	5	economics	economic	NOUN
ajfa-14920	495	6	,	,	PUNCT
ajfa-14920	495	7	(	(	PUNCT
ajfa-14920	495	8	3	3	NUM
ajfa-14920	495	9	)	)	PUNCT
ajfa-14920	495	10	,	,	PUNCT
ajfa-14920	495	11	9	9	NUM
ajfa-14920	495	12	-	-	SYM
ajfa-14920	495	13	14	14	NUM
ajfa-14920	495	14	.	.	PUNCT
ajfa-14920	496	1	(	(	PUNCT
ajfa-14920	496	2	chinese	chinese	PROPN
ajfa-14920	496	3	)	)	PUNCT
ajfa-14920	496	4	zhang	zhang	PROPN
ajfa-14920	496	5	p.	p.	PROPN
ajfa-14920	496	6	&	&	CCONJ
ajfa-14920	496	7	ma	ma	PROPN
ajfa-14920	496	8	h.	h.	PROPN
ajfa-14920	496	9	,	,	PUNCT
ajfa-14920	496	10	(	(	PUNCT
ajfa-14920	496	11	2012	2012	NUM
ajfa-14920	496	12	)	)	PUNCT
ajfa-14920	496	13	.	.	PUNCT
ajfa-14920	497	1	lending	lending	NOUN
ajfa-14920	497	2	constraints	constraint	NOUN
ajfa-14920	497	3	and	and	CCONJ
ajfa-14920	497	4	resource	resource	NOUN
ajfa-14920	497	5	mismatches	mismatch	NOUN
ajfa-14920	497	6	empirical	empirical	ADJ
ajfa-14920	497	7	evidence	evidence	NOUN
ajfa-14920	497	8	from	from	ADP
ajfa-14920	497	9	china	china	PROPN
ajfa-14920	497	10	.	.	PUNCT
ajfa-14920	498	1	journal	journal	PROPN
ajfa-14920	498	2	of	of	ADP
ajfa-14920	498	3	tsinghua	tsinghua	PROPN
ajfa-14920	498	4	university	university	PROPN
ajfa-14920	498	5	(	(	PUNCT
ajfa-14920	498	6	natural	natural	ADJ
ajfa-14920	498	7	science	science	NOUN
ajfa-14920	498	8	edition	edition	NOUN
ajfa-14920	498	9	)	)	PUNCT
ajfa-14920	498	10	,	,	PUNCT
ajfa-14920	498	11	9,1302	9,1302	PROPN
ajfa-14920	498	12	-	-	SYM
ajfa-14920	498	13	1308	1308	NUM
ajfa-14920	498	14	.	.	PUNCT
ajfa-14920	499	1	(	(	PUNCT
ajfa-14920	499	2	chinese	chinese	PROPN
ajfa-14920	499	3	)	)	PUNCT
ajfa-14920	499	4	zhang	zhang	PROPN
ajfa-14920	499	5	w.	w.	PROPN
ajfa-14920	499	6	(	(	PUNCT
ajfa-14920	499	7	2004	2004	NUM
ajfa-14920	499	8	)	)	PUNCT
ajfa-14920	499	9	.	.	PUNCT
ajfa-14920	500	1	game	game	NOUN
ajfa-14920	500	2	theory	theory	NOUN
ajfa-14920	500	3	and	and	CCONJ
ajfa-14920	500	4	information	information	NOUN
ajfa-14920	500	5	economics	economic	NOUN
ajfa-14920	500	6	.	.	PUNCT
ajfa-14920	501	1	first	first	PROPN
ajfa-14920	501	2	edition	edition	PROPN
ajfa-14920	501	3	.	.	PUNCT
ajfa-14920	502	1	shanghai	shanghai	PROPN
ajfa-14920	502	2	,	,	PUNCT
ajfa-14920	502	3	shanghai	shanghai	PROPN
ajfa-14920	502	4	people	people	PROPN
ajfa-14920	502	5	’s	’s	PART
ajfa-14920	502	6	publishing	publishing	PROPN
ajfa-14920	502	7	house	house	NOUN
ajfa-14920	502	8	,	,	PUNCT
ajfa-14920	502	9	35	35	NUM
ajfa-14920	502	10	-	-	SYM
ajfa-14920	502	11	39	39	NUM
ajfa-14920	502	12	.	.	PUNCT
ajfa-14920	503	1	(	(	PUNCT
ajfa-14920	503	2	chinese	chinese	PROPN
ajfa-14920	503	3	)	)	PUNCT
ajfa-14920	503	4	zhang	zhang	PROPN
ajfa-14920	503	5	w	w	PROPN
ajfa-14920	503	6	,	,	PUNCT
ajfa-14920	503	7	shen	shen	PROPN
ajfa-14920	503	8	k.	k.	PROPN
ajfa-14920	503	9	(	(	PUNCT
ajfa-14920	503	10	2008	2008	NUM
ajfa-14920	503	11	)	)	PUNCT
ajfa-14920	503	12	.	.	PUNCT
ajfa-14920	504	1	fiscal	fiscal	ADJ
ajfa-14920	504	2	decentralization	decentralization	NOUN
ajfa-14920	504	3	reform	reform	NOUN
ajfa-14920	504	4	,	,	PUNCT
ajfa-14920	504	5	local	local	ADJ
ajfa-14920	504	6	government	government	NOUN
ajfa-14920	504	7	behavior	behavior	NOUN
ajfa-14920	504	8	and	and	CCONJ
ajfa-14920	504	9	economic	economic	ADJ
ajfa-14920	504	10	growth	growth	NOUN
ajfa-14920	504	11	.	.	PUNCT
ajfa-14920	505	1	jiangsu	jiangsu	PROPN
ajfa-14920	505	2	social	social	PROPN
ajfa-14920	505	3	sciences	sciences	PROPN
ajfa-14920	505	4	,	,	PUNCT
ajfa-14920	505	5	(	(	PUNCT
ajfa-14920	505	6	3	3	NUM
ajfa-14920	505	7	)	)	PUNCT
ajfa-14920	505	8	,	,	PUNCT
ajfa-14920	505	9	56	56	NUM
ajfa-14920	505	10	-	-	SYM
ajfa-14920	505	11	62	62	NUM
ajfa-14920	505	12	.	.	PUNCT
ajfa-14920	506	1	(	(	PUNCT
ajfa-14920	506	2	chinese	chinese	PROPN
ajfa-14920	506	3	)	)	PUNCT
ajfa-14920	506	4	zhang	zhang	PROPN
ajfa-14920	506	5	z.	z.	PROPN
ajfa-14920	506	6	,	,	PUNCT
ajfa-14920	506	7	he	he	PRON
ajfa-14920	506	8	w.	w.	PROPN
ajfa-14920	506	9	&	&	CCONJ
ajfa-14920	506	10	liang	liang	PROPN
ajfa-14920	506	11	z.	z.	PROPN
ajfa-14920	506	12	(	(	PUNCT
ajfa-14920	506	13	2007	2007	NUM
ajfa-14920	506	14	)	)	PUNCT
ajfa-14920	506	15	.	.	PUNCT
ajfa-14920	507	1	capital	capital	NOUN
ajfa-14920	507	2	structure	structure	NOUN
ajfa-14920	507	3	and	and	CCONJ
ajfa-14920	507	4	corporate	corporate	ADJ
ajfa-14920	507	5	performance	performance	NOUN
ajfa-14920	507	6	,	,	PUNCT
ajfa-14920	507	7	empirical	empirical	ADJ
ajfa-14920	507	8	evidence	evidence	NOUN
ajfa-14920	507	9	from	from	ADP
ajfa-14920	507	10	chinese	chinese	ADJ
ajfa-14920	507	11	state	state	NOUN
ajfa-14920	507	12	-	-	PUNCT
ajfa-14920	507	13	controlled	control	VERB
ajfa-14920	507	14	listed	list	VERB
ajfa-14920	507	15	companies	company	NOUN
ajfa-14920	507	16	and	and	CCONJ
ajfa-14920	507	17	private	private	ADJ
ajfa-14920	507	18	listed	list	VERB
ajfa-14920	507	19	companies	company	NOUN
ajfa-14920	507	20	.	.	PUNCT
ajfa-14920	508	1	china	china	PROPN
ajfa-14920	508	2	soft	soft	ADJ
ajfa-14920	508	3	science	science	NOUN
ajfa-14920	508	4	,	,	PUNCT
ajfa-14920	508	5	12,92	12,92	NUM
ajfa-14920	508	6	-	-	SYM
ajfa-14920	508	7	107	107	NUM
ajfa-14920	508	8	(	(	PUNCT
ajfa-14920	508	9	chinese	chinese	PROPN
ajfa-14920	508	10	)	)	PUNCT