id	sid	tid	token	lemma	pos
ajfa-3495	1	1	microsoft	microsoft	PROPN
ajfa-3495	1	2	word	word	NOUN
ajfa-3495	1	3	3495-13215-1-sm-writer2-new.docx	3495-13215-1-sm-writer2-new.docx	NUM
ajfa-3495	1	4	asian	asian	ADJ
ajfa-3495	1	5	journal	journal	NOUN
ajfa-3495	1	6	of	of	ADP
ajfa-3495	1	7	finance	finance	PROPN
ajfa-3495	1	8	&	&	CCONJ
ajfa-3495	1	9	accounting	accounting	PROPN
ajfa-3495	1	10	issn	issn	PROPN
ajfa-3495	1	11	1946	1946	NUM
ajfa-3495	1	12	-	-	PUNCT
ajfa-3495	1	13	052x	052x	NOUN
ajfa-3495	1	14	2013	2013	NUM
ajfa-3495	1	15	,	,	PUNCT
ajfa-3495	1	16	vol	vol	NOUN
ajfa-3495	1	17	.	.	PROPN
ajfa-3495	1	18	5	5	NUM
ajfa-3495	1	19	,	,	PUNCT
ajfa-3495	1	20	no	no	INTJ
ajfa-3495	1	21	.	.	NOUN
ajfa-3495	1	22	1	1	NUM
ajfa-3495	1	23	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-3495	1	24	320	320	NUM
ajfa-3495	1	25	capital	capital	NOUN
ajfa-3495	1	26	structure	structure	NOUN
ajfa-3495	1	27	choice	choice	NOUN
ajfa-3495	1	28	of	of	ADP
ajfa-3495	1	29	bangladeshi	bangladeshi	ADJ
ajfa-3495	1	30	firms	firm	NOUN
ajfa-3495	1	31	:	:	PUNCT
ajfa-3495	1	32	an	an	DET
ajfa-3495	1	33	empirical	empirical	ADJ
ajfa-3495	1	34	investigation	investigation	NOUN
ajfa-3495	1	35	khairul	khairul	PROPN
ajfa-3495	1	36	alom	alom	PROPN
ajfa-3495	1	37	school	school	PROPN
ajfa-3495	1	38	of	of	ADP
ajfa-3495	1	39	business	business	NOUN
ajfa-3495	1	40	studies	study	NOUN
ajfa-3495	1	41	,	,	PUNCT
ajfa-3495	1	42	southeast	southeast	ADJ
ajfa-3495	1	43	university	university	NOUN
ajfa-3495	1	44	,	,	PUNCT
ajfa-3495	1	45	bangladesh	bangladesh	NOUN
ajfa-3495	1	46	e	e	NOUN
ajfa-3495	1	47	-	-	NOUN
ajfa-3495	1	48	mail	mail	NOUN
ajfa-3495	1	49	:	:	PUNCT
ajfa-3495	1	50	khairulalom@yahoo.com	khairulalom@yahoo.com	X
ajfa-3495	1	51	received	receive	VERB
ajfa-3495	1	52	:	:	PUNCT
ajfa-3495	1	53	april	april	PROPN
ajfa-3495	1	54	8	8	NUM
ajfa-3495	1	55	,	,	PUNCT
ajfa-3495	1	56	2013	2013	NUM
ajfa-3495	1	57	accepted	accept	VERB
ajfa-3495	1	58	:	:	PUNCT
ajfa-3495	1	59	april	april	PROPN
ajfa-3495	1	60	30	30	NUM
ajfa-3495	1	61	,	,	PUNCT
ajfa-3495	1	62	2013	2013	NUM
ajfa-3495	1	63	published	publish	VERB
ajfa-3495	1	64	:	:	PUNCT
ajfa-3495	1	65	june	june	PROPN
ajfa-3495	1	66	1	1	NUM
ajfa-3495	1	67	,	,	PUNCT
ajfa-3495	1	68	2013	2013	NUM
ajfa-3495	1	69	doi:10.5296	doi:10.5296	NOUN
ajfa-3495	1	70	/	/	SYM
ajfa-3495	1	71	ajfa.v5i1.3495	ajfa.v5i1.3495	NUM
ajfa-3495	1	72	url	url	NOUN
ajfa-3495	1	73	:	:	PUNCT
ajfa-3495	1	74	http://dx.doi.org/10.5296/ajfa.v5i1.3495	http://dx.doi.org/10.5296/ajfa.v5i1.3495	AUX
ajfa-3495	1	75	abstract	abstract	VERB
ajfa-3495	1	76	this	this	DET
ajfa-3495	1	77	study	study	NOUN
ajfa-3495	1	78	endeavors	endeavor	NOUN
ajfa-3495	1	79	to	to	PART
ajfa-3495	1	80	investigate	investigate	VERB
ajfa-3495	1	81	the	the	DET
ajfa-3495	1	82	impact	impact	NOUN
ajfa-3495	1	83	of	of	ADP
ajfa-3495	1	84	firm	firm	ADJ
ajfa-3495	1	85	specific	specific	ADJ
ajfa-3495	1	86	factors	factor	NOUN
ajfa-3495	1	87	on	on	ADP
ajfa-3495	1	88	capital	capital	NOUN
ajfa-3495	1	89	structure	structure	NOUN
ajfa-3495	1	90	decision	decision	NOUN
ajfa-3495	1	91	for	for	ADP
ajfa-3495	1	92	a	a	DET
ajfa-3495	1	93	sample	sample	NOUN
ajfa-3495	1	94	of	of	ADP
ajfa-3495	1	95	44	44	NUM
ajfa-3495	1	96	-	-	PUNCT
ajfa-3495	1	97	firm	firm	NOUN
ajfa-3495	1	98	listed	list	VERB
ajfa-3495	1	99	on	on	ADP
ajfa-3495	1	100	dhaka	dhaka	PROPN
ajfa-3495	1	101	stock	stock	PROPN
ajfa-3495	1	102	exchange	exchange	PROPN
ajfa-3495	1	103	(	(	PUNCT
ajfa-3495	1	104	dse	dse	PROPN
ajfa-3495	1	105	)	)	PUNCT
ajfa-3495	1	106	during	during	ADP
ajfa-3495	1	107	the	the	DET
ajfa-3495	1	108	period	period	NOUN
ajfa-3495	1	109	of	of	ADP
ajfa-3495	1	110	2004	2004	NUM
ajfa-3495	1	111	-	-	SYM
ajfa-3495	1	112	2011	2011	NUM
ajfa-3495	1	113	.	.	PUNCT
ajfa-3495	2	1	to	to	PART
ajfa-3495	2	2	achieve	achieve	VERB
ajfa-3495	2	3	the	the	DET
ajfa-3495	2	4	objectives	objective	NOUN
ajfa-3495	2	5	,	,	PUNCT
ajfa-3495	2	6	this	this	DET
ajfa-3495	2	7	study	study	NOUN
ajfa-3495	2	8	tests	test	VERB
ajfa-3495	2	9	a	a	DET
ajfa-3495	2	10	null	null	ADJ
ajfa-3495	2	11	hypothesis	hypothesis	NOUN
ajfa-3495	2	12	that	that	SCONJ
ajfa-3495	2	13	none	none	NOUN
ajfa-3495	2	14	of	of	ADP
ajfa-3495	2	15	the	the	DET
ajfa-3495	2	16	firm	firm	NOUN
ajfa-3495	2	17	’s	’s	PART
ajfa-3495	2	18	specific	specific	ADJ
ajfa-3495	2	19	factors	factor	NOUN
ajfa-3495	2	20	such	such	ADJ
ajfa-3495	2	21	as	as	ADP
ajfa-3495	2	22	,	,	PUNCT
ajfa-3495	2	23	liquidity	liquidity	NOUN
ajfa-3495	2	24	,	,	PUNCT
ajfa-3495	2	25	market	market	NOUN
ajfa-3495	2	26	to	to	ADP
ajfa-3495	2	27	book	book	NOUN
ajfa-3495	2	28	,	,	PUNCT
ajfa-3495	2	29	collateral	collateral	NOUN
ajfa-3495	2	30	,	,	PUNCT
ajfa-3495	2	31	dividend	dividend	NOUN
ajfa-3495	2	32	payment	payment	NOUN
ajfa-3495	2	33	,	,	PUNCT
ajfa-3495	2	34	profitability	profitability	NOUN
ajfa-3495	2	35	,	,	PUNCT
ajfa-3495	2	36	size	size	NOUN
ajfa-3495	2	37	and	and	CCONJ
ajfa-3495	2	38	industry	industry	NOUN
ajfa-3495	2	39	classification	classification	NOUN
ajfa-3495	2	40	has	have	VERB
ajfa-3495	2	41	significant	significant	ADJ
ajfa-3495	2	42	impact	impact	NOUN
ajfa-3495	2	43	on	on	ADP
ajfa-3495	2	44	leverage	leverage	NOUN
ajfa-3495	2	45	using	use	VERB
ajfa-3495	2	46	estimate	estimate	NOUN
ajfa-3495	2	47	of	of	ADP
ajfa-3495	2	48	fixed	fix	VERB
ajfa-3495	2	49	effect	effect	NOUN
ajfa-3495	2	50	model	model	NOUN
ajfa-3495	2	51	under	under	ADP
ajfa-3495	2	52	ordinary	ordinary	ADJ
ajfa-3495	2	53	least	least	ADJ
ajfa-3495	2	54	square	square	ADJ
ajfa-3495	2	55	(	(	PUNCT
ajfa-3495	2	56	ols	ol	NOUN
ajfa-3495	2	57	)	)	PUNCT
ajfa-3495	2	58	regression	regression	NOUN
ajfa-3495	2	59	.	.	PUNCT
ajfa-3495	3	1	checking	check	VERB
ajfa-3495	3	2	multicollinearity	multicollinearity	NOUN
ajfa-3495	3	3	and	and	CCONJ
ajfa-3495	3	4	estimating	estimate	VERB
ajfa-3495	3	5	regression	regression	NOUN
ajfa-3495	3	6	analysis	analysis	NOUN
ajfa-3495	3	7	through	through	ADP
ajfa-3495	3	8	pearson	pearson	PROPN
ajfa-3495	3	9	correlation	correlation	NOUN
ajfa-3495	3	10	model	model	NOUN
ajfa-3495	3	11	respectively	respectively	ADV
ajfa-3495	3	12	this	this	DET
ajfa-3495	3	13	study	study	NOUN
ajfa-3495	3	14	found	find	VERB
ajfa-3495	3	15	that	that	SCONJ
ajfa-3495	3	16	profitability	profitability	NOUN
ajfa-3495	3	17	,	,	PUNCT
ajfa-3495	3	18	collateral	collateral	NOUN
ajfa-3495	3	19	and	and	CCONJ
ajfa-3495	3	20	liquidity	liquidity	NOUN
ajfa-3495	3	21	have	have	VERB
ajfa-3495	3	22	significant	significant	ADJ
ajfa-3495	3	23	and	and	CCONJ
ajfa-3495	3	24	negative	negative	ADJ
ajfa-3495	3	25	impact	impact	NOUN
ajfa-3495	3	26	on	on	ADP
ajfa-3495	3	27	leverage	leverage	NOUN
ajfa-3495	3	28	.	.	PUNCT
ajfa-3495	4	1	positive	positive	ADJ
ajfa-3495	4	2	and	and	CCONJ
ajfa-3495	4	3	significant	significant	ADJ
ajfa-3495	4	4	impact	impact	NOUN
ajfa-3495	4	5	of	of	ADP
ajfa-3495	4	6	market	market	NOUN
ajfa-3495	4	7	to	to	ADP
ajfa-3495	4	8	book	book	NOUN
ajfa-3495	4	9	value	value	NOUN
ajfa-3495	4	10	ratio	ratio	NOUN
ajfa-3495	4	11	on	on	ADP
ajfa-3495	4	12	leverage	leverage	NOUN
ajfa-3495	4	13	has	have	AUX
ajfa-3495	4	14	been	be	AUX
ajfa-3495	4	15	found	find	VERB
ajfa-3495	4	16	in	in	ADP
ajfa-3495	4	17	this	this	DET
ajfa-3495	4	18	study	study	NOUN
ajfa-3495	4	19	.	.	PUNCT
ajfa-3495	5	1	on	on	ADP
ajfa-3495	5	2	the	the	DET
ajfa-3495	5	3	other	other	ADJ
ajfa-3495	5	4	hand	hand	NOUN
ajfa-3495	5	5	,	,	PUNCT
ajfa-3495	5	6	dividend	dividend	NOUN
ajfa-3495	5	7	payment	payment	NOUN
ajfa-3495	5	8	and	and	CCONJ
ajfa-3495	5	9	size	size	NOUN
ajfa-3495	5	10	were	be	AUX
ajfa-3495	5	11	not	not	PART
ajfa-3495	5	12	found	find	VERB
ajfa-3495	5	13	as	as	ADP
ajfa-3495	5	14	significant	significant	ADJ
ajfa-3495	5	15	explanatory	explanatory	ADJ
ajfa-3495	5	16	variables	variable	NOUN
ajfa-3495	5	17	of	of	ADP
ajfa-3495	5	18	leverage	leverage	NOUN
ajfa-3495	5	19	.	.	PUNCT
ajfa-3495	6	1	results	result	NOUN
ajfa-3495	6	2	also	also	ADV
ajfa-3495	6	3	expose	expose	VERB
ajfa-3495	6	4	that	that	SCONJ
ajfa-3495	6	5	total	total	ADJ
ajfa-3495	6	6	debts	debt	NOUN
ajfa-3495	6	7	to	to	ADP
ajfa-3495	6	8	total	total	ADJ
ajfa-3495	6	9	assets	asset	NOUN
ajfa-3495	6	10	ratios	ratio	NOUN
ajfa-3495	6	11	are	be	AUX
ajfa-3495	6	12	significantly	significantly	ADV
ajfa-3495	6	13	different	different	ADJ
ajfa-3495	6	14	across	across	ADP
ajfa-3495	6	15	bangladeshi	bangladeshi	ADJ
ajfa-3495	6	16	industries	industry	NOUN
ajfa-3495	6	17	.	.	PUNCT
ajfa-3495	7	1	keywords	keyword	NOUN
ajfa-3495	7	2	:	:	PUNCT
ajfa-3495	7	3	capital	capital	NOUN
ajfa-3495	7	4	structure	structure	NOUN
ajfa-3495	7	5	,	,	PUNCT
ajfa-3495	7	6	leverage	leverage	NOUN
ajfa-3495	7	7	,	,	PUNCT
ajfa-3495	7	8	firm	firm	NOUN
ajfa-3495	7	9	’s	’s	PART
ajfa-3495	7	10	specific	specific	ADJ
ajfa-3495	7	11	factors	factor	NOUN
ajfa-3495	7	12	,	,	PUNCT
ajfa-3495	7	13	dhaka	dhaka	PROPN
ajfa-3495	7	14	stock	stock	PROPN
ajfa-3495	7	15	exchange	exchange	PROPN
ajfa-3495	7	16	,	,	PUNCT
ajfa-3495	7	17	bangladesh	bangladesh	PROPN
ajfa-3495	7	18	asian	asian	ADJ
ajfa-3495	7	19	journal	journal	NOUN
ajfa-3495	7	20	of	of	ADP
ajfa-3495	7	21	finance	finance	PROPN
ajfa-3495	7	22	&	&	CCONJ
ajfa-3495	7	23	accounting	accounting	PROPN
ajfa-3495	7	24	issn	issn	PROPN
ajfa-3495	7	25	1946	1946	NUM
ajfa-3495	7	26	-	-	PUNCT
ajfa-3495	7	27	052x	052x	NOUN
ajfa-3495	7	28	2013	2013	NUM
ajfa-3495	7	29	,	,	PUNCT
ajfa-3495	7	30	vol	vol	NOUN
ajfa-3495	7	31	.	.	PROPN
ajfa-3495	7	32	5	5	NUM
ajfa-3495	7	33	,	,	PUNCT
ajfa-3495	7	34	no	no	INTJ
ajfa-3495	7	35	.	.	NOUN
ajfa-3495	7	36	1	1	NUM
ajfa-3495	7	37	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-3495	7	38	321	321	NUM
ajfa-3495	7	39	1	1	NUM
ajfa-3495	7	40	.	.	PUNCT
ajfa-3495	8	1	introduction	introduction	NOUN
ajfa-3495	8	2	many	many	ADJ
ajfa-3495	8	3	corporate	corporate	ADJ
ajfa-3495	8	4	finance	finance	NOUN
ajfa-3495	8	5	models	model	NOUN
ajfa-3495	8	6	rely	rely	VERB
ajfa-3495	8	7	on	on	ADP
ajfa-3495	8	8	rigorous	rigorous	ADJ
ajfa-3495	8	9	assumptions	assumption	NOUN
ajfa-3495	8	10	such	such	ADJ
ajfa-3495	8	11	as	as	ADP
ajfa-3495	8	12	rationality	rationality	NOUN
ajfa-3495	8	13	in	in	ADP
ajfa-3495	8	14	decision	decision	NOUN
ajfa-3495	8	15	making	making	NOUN
ajfa-3495	8	16	.	.	PUNCT
ajfa-3495	9	1	however	however	ADV
ajfa-3495	9	2	,	,	PUNCT
ajfa-3495	9	3	behavioral	behavioral	ADJ
ajfa-3495	9	4	finance	finance	NOUN
ajfa-3495	9	5	uses	use	VERB
ajfa-3495	9	6	models	model	NOUN
ajfa-3495	9	7	in	in	ADP
ajfa-3495	9	8	which	which	PRON
ajfa-3495	9	9	decisions	decision	NOUN
ajfa-3495	9	10	are	be	AUX
ajfa-3495	9	11	influenced	influence	VERB
ajfa-3495	9	12	by	by	ADP
ajfa-3495	9	13	psychological	psychological	ADJ
ajfa-3495	9	14	and/or	and/or	CCONJ
ajfa-3495	9	15	cognitive	cognitive	ADJ
ajfa-3495	9	16	biases	bias	NOUN
ajfa-3495	9	17	.	.	PUNCT
ajfa-3495	10	1	this	this	PRON
ajfa-3495	10	2	is	be	AUX
ajfa-3495	10	3	an	an	DET
ajfa-3495	10	4	area	area	NOUN
ajfa-3495	10	5	of	of	ADP
ajfa-3495	10	6	research	research	NOUN
ajfa-3495	10	7	that	that	PRON
ajfa-3495	10	8	has	have	AUX
ajfa-3495	10	9	developed	develop	VERB
ajfa-3495	10	10	from	from	ADP
ajfa-3495	10	11	the	the	DET
ajfa-3495	10	12	work	work	NOUN
ajfa-3495	10	13	of	of	ADP
ajfa-3495	10	14	kahneman	kahneman	NOUN
ajfa-3495	10	15	and	and	CCONJ
ajfa-3495	10	16	tversky	tversky	PROPN
ajfa-3495	10	17	(	(	PUNCT
ajfa-3495	10	18	1979	1979	NUM
ajfa-3495	10	19	)	)	PUNCT
ajfa-3495	10	20	and	and	CCONJ
ajfa-3495	10	21	prospect	prospect	NOUN
ajfa-3495	10	22	theory	theory	NOUN
ajfa-3495	10	23	.	.	PUNCT
ajfa-3495	11	1	it	it	PRON
ajfa-3495	11	2	provides	provide	VERB
ajfa-3495	11	3	insight	insight	NOUN
ajfa-3495	11	4	into	into	ADP
ajfa-3495	11	5	the	the	DET
ajfa-3495	11	6	influence	influence	NOUN
ajfa-3495	11	7	of	of	ADP
ajfa-3495	11	8	psychology	psychology	NOUN
ajfa-3495	11	9	on	on	ADP
ajfa-3495	11	10	the	the	DET
ajfa-3495	11	11	behavior	behavior	NOUN
ajfa-3495	11	12	of	of	ADP
ajfa-3495	11	13	managers	manager	NOUN
ajfa-3495	11	14	and	and	CCONJ
ajfa-3495	11	15	investors	investor	NOUN
ajfa-3495	11	16	and	and	CCONJ
ajfa-3495	11	17	the	the	DET
ajfa-3495	11	18	subsequent	subsequent	ADJ
ajfa-3495	11	19	effects	effect	NOUN
ajfa-3495	11	20	on	on	ADP
ajfa-3495	11	21	markets	market	NOUN
ajfa-3495	11	22	of	of	ADP
ajfa-3495	11	23	their	their	PRON
ajfa-3495	11	24	financial	financial	ADJ
ajfa-3495	11	25	decision	decision	NOUN
ajfa-3495	11	26	making	making	NOUN
ajfa-3495	11	27	(	(	PUNCT
ajfa-3495	11	28	nofsinger	nofsinger	NOUN
ajfa-3495	11	29	,	,	PUNCT
ajfa-3495	11	30	2005	2005	NUM
ajfa-3495	11	31	)	)	PUNCT
ajfa-3495	11	32	.	.	PUNCT
ajfa-3495	12	1	identifying	identify	VERB
ajfa-3495	12	2	the	the	DET
ajfa-3495	12	3	determinants	determinant	NOUN
ajfa-3495	12	4	of	of	ADP
ajfa-3495	12	5	capital	capital	NOUN
ajfa-3495	12	6	structure	structure	NOUN
ajfa-3495	12	7	can	can	AUX
ajfa-3495	12	8	help	help	VERB
ajfa-3495	12	9	managers	manager	NOUN
ajfa-3495	12	10	make	make	VERB
ajfa-3495	12	11	more	more	ADV
ajfa-3495	12	12	informed	informed	ADJ
ajfa-3495	12	13	decisions	decision	NOUN
ajfa-3495	12	14	.	.	PUNCT
ajfa-3495	13	1	academically	academically	ADV
ajfa-3495	13	2	,	,	PUNCT
ajfa-3495	13	3	it	it	PRON
ajfa-3495	13	4	is	be	AUX
ajfa-3495	13	5	of	of	ADP
ajfa-3495	13	6	interest	interest	NOUN
ajfa-3495	13	7	to	to	PART
ajfa-3495	13	8	understand	understand	VERB
ajfa-3495	13	9	what	what	PRON
ajfa-3495	13	10	determines	determine	VERB
ajfa-3495	13	11	capital	capital	NOUN
ajfa-3495	13	12	structure	structure	NOUN
ajfa-3495	13	13	given	give	VERB
ajfa-3495	13	14	the	the	DET
ajfa-3495	13	15	considerable	considerable	ADJ
ajfa-3495	13	16	research	research	NOUN
ajfa-3495	13	17	since	since	SCONJ
ajfa-3495	13	18	modigliani	modigliani	NOUN
ajfa-3495	13	19	and	and	CCONJ
ajfa-3495	13	20	miller	miller	PROPN
ajfa-3495	13	21	(	(	PUNCT
ajfa-3495	13	22	1958	1958	NUM
ajfa-3495	13	23	)	)	PUNCT
ajfa-3495	13	24	.	.	PUNCT
ajfa-3495	14	1	however	however	ADV
ajfa-3495	14	2	,	,	PUNCT
ajfa-3495	14	3	there	there	PRON
ajfa-3495	14	4	is	be	VERB
ajfa-3495	14	5	no	no	DET
ajfa-3495	14	6	one	one	NUM
ajfa-3495	14	7	universal	universal	ADJ
ajfa-3495	14	8	theory	theory	NOUN
ajfa-3495	14	9	of	of	ADP
ajfa-3495	14	10	capital	capital	NOUN
ajfa-3495	14	11	structure	structure	NOUN
ajfa-3495	14	12	and	and	CCONJ
ajfa-3495	14	13	it	it	PRON
ajfa-3495	14	14	is	be	AUX
ajfa-3495	14	15	only	only	ADV
ajfa-3495	14	16	recently	recently	ADV
ajfa-3495	14	17	that	that	SCONJ
ajfa-3495	14	18	manager	manager	NOUN
ajfa-3495	14	19	confidence	confidence	NOUN
ajfa-3495	14	20	has	have	AUX
ajfa-3495	14	21	been	be	AUX
ajfa-3495	14	22	considered	consider	VERB
ajfa-3495	14	23	an	an	DET
ajfa-3495	14	24	important	important	ADJ
ajfa-3495	14	25	variable	variable	NOUN
ajfa-3495	14	26	in	in	ADP
ajfa-3495	14	27	capital	capital	NOUN
ajfa-3495	14	28	structure	structure	NOUN
ajfa-3495	14	29	choice	choice	NOUN
ajfa-3495	14	30	.	.	PUNCT
ajfa-3495	15	1	one	one	NUM
ajfa-3495	15	2	of	of	ADP
ajfa-3495	15	3	the	the	DET
ajfa-3495	15	4	many	many	ADJ
ajfa-3495	15	5	objectives	objective	NOUN
ajfa-3495	15	6	of	of	ADP
ajfa-3495	15	7	financial	financial	ADJ
ajfa-3495	15	8	managers	manager	NOUN
ajfa-3495	15	9	is	be	AUX
ajfa-3495	15	10	to	to	PART
ajfa-3495	15	11	maximize	maximize	VERB
ajfa-3495	15	12	the	the	DET
ajfa-3495	15	13	wealth	wealth	NOUN
ajfa-3495	15	14	of	of	ADP
ajfa-3495	15	15	the	the	DET
ajfa-3495	15	16	firm	firm	NOUN
ajfa-3495	15	17	,	,	PUNCT
ajfa-3495	15	18	more	more	ADV
ajfa-3495	15	19	specifically	specifically	ADV
ajfa-3495	15	20	shareholder	shareholder	NOUN
ajfa-3495	15	21	’s	’s	PART
ajfa-3495	15	22	wealth	wealth	NOUN
ajfa-3495	15	23	maximization	maximization	NOUN
ajfa-3495	15	24	.	.	PUNCT
ajfa-3495	16	1	to	to	PART
ajfa-3495	16	2	maximize	maximize	VERB
ajfa-3495	16	3	firm	firm	NOUN
ajfa-3495	16	4	’s	’s	PART
ajfa-3495	16	5	value	value	NOUN
ajfa-3495	16	6	as	as	ADV
ajfa-3495	16	7	well	well	ADV
ajfa-3495	16	8	as	as	ADP
ajfa-3495	16	9	minimize	minimize	VERB
ajfa-3495	16	10	the	the	DET
ajfa-3495	16	11	cost	cost	NOUN
ajfa-3495	16	12	of	of	ADP
ajfa-3495	16	13	fund	fund	NOUN
ajfa-3495	16	14	,	,	PUNCT
ajfa-3495	16	15	a	a	DET
ajfa-3495	16	16	manager	manager	NOUN
ajfa-3495	16	17	should	should	AUX
ajfa-3495	16	18	set	set	VERB
ajfa-3495	16	19	up	up	ADP
ajfa-3495	16	20	an	an	DET
ajfa-3495	16	21	optimal	optimal	ADJ
ajfa-3495	16	22	capital	capital	NOUN
ajfa-3495	16	23	structure	structure	NOUN
ajfa-3495	16	24	.	.	PUNCT
ajfa-3495	17	1	the	the	DET
ajfa-3495	17	2	fundamental	fundamental	ADJ
ajfa-3495	17	3	components	component	NOUN
ajfa-3495	17	4	in	in	ADP
ajfa-3495	17	5	capital	capital	NOUN
ajfa-3495	17	6	structure	structure	NOUN
ajfa-3495	17	7	are	be	AUX
ajfa-3495	17	8	debt	debt	NOUN
ajfa-3495	17	9	and	and	CCONJ
ajfa-3495	17	10	equity	equity	NOUN
ajfa-3495	17	11	.	.	PUNCT
ajfa-3495	18	1	a	a	DET
ajfa-3495	18	2	firm	firm	NOUN
ajfa-3495	18	3	should	should	AUX
ajfa-3495	18	4	attempt	attempt	VERB
ajfa-3495	18	5	to	to	PART
ajfa-3495	18	6	determine	determine	VERB
ajfa-3495	18	7	the	the	DET
ajfa-3495	18	8	optimal	optimal	ADJ
ajfa-3495	18	9	capital	capital	NOUN
ajfa-3495	18	10	structure	structure	NOUN
ajfa-3495	18	11	that	that	PRON
ajfa-3495	18	12	causes	cause	VERB
ajfa-3495	18	13	the	the	DET
ajfa-3495	18	14	maximization	maximization	NOUN
ajfa-3495	18	15	of	of	ADP
ajfa-3495	18	16	firm	firm	NOUN
ajfa-3495	18	17	’s	’s	PART
ajfa-3495	18	18	value	value	NOUN
ajfa-3495	18	19	.	.	PUNCT
ajfa-3495	19	1	positive	positive	ADJ
ajfa-3495	19	2	relationship	relationship	NOUN
ajfa-3495	19	3	between	between	ADP
ajfa-3495	19	4	leverage	leverage	NOUN
ajfa-3495	19	5	and	and	CCONJ
ajfa-3495	19	6	value	value	NOUN
ajfa-3495	19	7	of	of	ADP
ajfa-3495	19	8	the	the	DET
ajfa-3495	19	9	firm	firm	NOUN
ajfa-3495	19	10	has	have	AUX
ajfa-3495	19	11	been	be	AUX
ajfa-3495	19	12	identified	identify	VERB
ajfa-3495	19	13	in	in	ADP
ajfa-3495	19	14	some	some	DET
ajfa-3495	19	15	studies	study	NOUN
ajfa-3495	19	16	(	(	PUNCT
ajfa-3495	19	17	champion	champion	NOUN
ajfa-3495	19	18	,	,	PUNCT
ajfa-3495	19	19	1999	1999	NUM
ajfa-3495	19	20	;	;	PUNCT
ajfa-3495	19	21	ghosh	ghosh	PROPN
ajfa-3495	19	22	et	et	PROPN
ajfa-3495	19	23	al	al	PROPN
ajfa-3495	19	24	,	,	PUNCT
ajfa-3495	19	25	2000	2000	NUM
ajfa-3495	19	26	;	;	PUNCT
ajfa-3495	19	27	chowdhury	chowdhury	PROPN
ajfa-3495	19	28	s.	s.	PROPN
ajfa-3495	19	29	&	&	CCONJ
ajfa-3495	19	30	chowdhury	chowdhury	PROPN
ajfa-3495	19	31	a.	a.	PROPN
ajfa-3495	19	32	,	,	PUNCT
ajfa-3495	19	33	2010	2010	NUM
ajfa-3495	19	34	)	)	PUNCT
ajfa-3495	19	35	.	.	PUNCT
ajfa-3495	20	1	capital	capital	NOUN
ajfa-3495	20	2	structure	structure	NOUN
ajfa-3495	20	3	policy	policy	NOUN
ajfa-3495	20	4	is	be	AUX
ajfa-3495	20	5	also	also	ADV
ajfa-3495	20	6	important	important	ADJ
ajfa-3495	20	7	in	in	ADP
ajfa-3495	20	8	a	a	DET
ajfa-3495	20	9	sense	sense	NOUN
ajfa-3495	20	10	that	that	DET
ajfa-3495	20	11	level	level	NOUN
ajfa-3495	20	12	of	of	ADP
ajfa-3495	20	13	risk	risk	NOUN
ajfa-3495	20	14	and	and	CCONJ
ajfa-3495	20	15	return	return	NOUN
ajfa-3495	20	16	of	of	ADP
ajfa-3495	20	17	a	a	DET
ajfa-3495	20	18	firm	firm	NOUN
ajfa-3495	20	19	is	be	AUX
ajfa-3495	20	20	mostly	mostly	ADV
ajfa-3495	20	21	affected	affect	VERB
ajfa-3495	20	22	by	by	ADP
ajfa-3495	20	23	it	it	PRON
ajfa-3495	20	24	.	.	PUNCT
ajfa-3495	21	1	using	use	VERB
ajfa-3495	21	2	more	more	ADJ
ajfa-3495	21	3	debt	debt	NOUN
ajfa-3495	21	4	in	in	ADP
ajfa-3495	21	5	capital	capital	NOUN
ajfa-3495	21	6	structure	structure	NOUN
ajfa-3495	21	7	to	to	PART
ajfa-3495	21	8	finance	finance	VERB
ajfa-3495	21	9	firm	firm	NOUN
ajfa-3495	21	10	’s	’s	PART
ajfa-3495	21	11	assets	asset	NOUN
ajfa-3495	21	12	results	result	VERB
ajfa-3495	21	13	in	in	ADP
ajfa-3495	21	14	increase	increase	NOUN
ajfa-3495	21	15	the	the	DET
ajfa-3495	21	16	variability	variability	NOUN
ajfa-3495	21	17	of	of	ADP
ajfa-3495	21	18	firm	firm	NOUN
ajfa-3495	21	19	's	's	PART
ajfa-3495	21	20	cash	cash	NOUN
ajfa-3495	21	21	flows	flow	NOUN
ajfa-3495	21	22	stream	stream	VERB
ajfa-3495	21	23	more	more	ADV
ajfa-3495	21	24	specifically	specifically	ADV
ajfa-3495	21	25	and	and	CCONJ
ajfa-3495	21	26	escorts	escort	NOUN
ajfa-3495	21	27	to	to	PART
ajfa-3495	21	28	generate	generate	VERB
ajfa-3495	21	29	higher	high	ADJ
ajfa-3495	21	30	risk	risk	NOUN
ajfa-3495	21	31	accordingly	accordingly	ADV
ajfa-3495	21	32	.	.	PUNCT
ajfa-3495	22	1	but	but	CCONJ
ajfa-3495	22	2	no	no	DET
ajfa-3495	22	3	strict	strict	ADJ
ajfa-3495	22	4	theory	theory	NOUN
ajfa-3495	22	5	has	have	AUX
ajfa-3495	22	6	been	be	AUX
ajfa-3495	22	7	developed	develop	VERB
ajfa-3495	22	8	yet	yet	ADV
ajfa-3495	22	9	to	to	PART
ajfa-3495	22	10	determine	determine	VERB
ajfa-3495	22	11	the	the	DET
ajfa-3495	22	12	exact	exact	ADJ
ajfa-3495	22	13	optimal	optimal	ADJ
ajfa-3495	22	14	capital	capital	NOUN
ajfa-3495	22	15	structure	structure	NOUN
ajfa-3495	22	16	.	.	PUNCT
ajfa-3495	23	1	so	so	ADV
ajfa-3495	23	2	it	it	PRON
ajfa-3495	23	3	concerns	concern	VERB
ajfa-3495	23	4	managers	manager	NOUN
ajfa-3495	23	5	in	in	ADP
ajfa-3495	23	6	identifying	identify	VERB
ajfa-3495	23	7	some	some	DET
ajfa-3495	23	8	factors	factor	NOUN
ajfa-3495	23	9	influencing	influence	VERB
ajfa-3495	23	10	capital	capital	NOUN
ajfa-3495	23	11	structure	structure	NOUN
ajfa-3495	23	12	decision	decision	NOUN
ajfa-3495	23	13	by	by	ADP
ajfa-3495	23	14	which	which	PRON
ajfa-3495	23	15	they	they	PRON
ajfa-3495	23	16	can	can	AUX
ajfa-3495	23	17	benefit	benefit	VERB
ajfa-3495	23	18	to	to	PART
ajfa-3495	23	19	make	make	VERB
ajfa-3495	23	20	an	an	DET
ajfa-3495	23	21	optimal	optimal	ADJ
ajfa-3495	23	22	mix	mix	NOUN
ajfa-3495	23	23	of	of	ADP
ajfa-3495	23	24	debt	debt	NOUN
ajfa-3495	23	25	and	and	CCONJ
ajfa-3495	23	26	equity	equity	NOUN
ajfa-3495	23	27	to	to	PART
ajfa-3495	23	28	maximize	maximize	VERB
ajfa-3495	23	29	firm	firm	NOUN
ajfa-3495	23	30	’s	’s	PART
ajfa-3495	23	31	value	value	NOUN
ajfa-3495	23	32	.	.	PUNCT
ajfa-3495	24	1	moreover	moreover	ADV
ajfa-3495	24	2	these	these	DET
ajfa-3495	24	3	factors	factor	NOUN
ajfa-3495	24	4	vary	vary	VERB
ajfa-3495	24	5	across	across	ADP
ajfa-3495	24	6	countries	country	NOUN
ajfa-3495	24	7	and	and	CCONJ
ajfa-3495	24	8	firm	firm	NOUN
ajfa-3495	24	9	’s	’s	PART
ajfa-3495	24	10	characteristics	characteristic	NOUN
ajfa-3495	24	11	i.e.	i.e.	X
ajfa-3495	24	12	liquidity	liquidity	NOUN
ajfa-3495	24	13	,	,	PUNCT
ajfa-3495	24	14	market	market	NOUN
ajfa-3495	24	15	to	to	ADP
ajfa-3495	24	16	book	book	NOUN
ajfa-3495	24	17	,	,	PUNCT
ajfa-3495	24	18	collateral	collateral	NOUN
ajfa-3495	24	19	,	,	PUNCT
ajfa-3495	24	20	dividend	dividend	NOUN
ajfa-3495	24	21	payment	payment	NOUN
ajfa-3495	24	22	,	,	PUNCT
ajfa-3495	24	23	profitability	profitability	NOUN
ajfa-3495	24	24	size	size	NOUN
ajfa-3495	24	25	assets	asset	NOUN
ajfa-3495	24	26	etc	etc	X
ajfa-3495	24	27	.	.	X
ajfa-3495	24	28	since	since	SCONJ
ajfa-3495	24	29	modigliani	modigliani	PROPN
ajfa-3495	24	30	and	and	CCONJ
ajfa-3495	24	31	miller	miller	PROPN
ajfa-3495	24	32	(	(	PUNCT
ajfa-3495	24	33	1958	1958	NUM
ajfa-3495	24	34	)	)	PUNCT
ajfa-3495	24	35	,	,	PUNCT
ajfa-3495	24	36	who	who	PRON
ajfa-3495	24	37	are	be	AUX
ajfa-3495	24	38	the	the	DET
ajfa-3495	24	39	pioneer	pioneer	NOUN
ajfa-3495	24	40	in	in	ADP
ajfa-3495	24	41	this	this	DET
ajfa-3495	24	42	field	field	NOUN
ajfa-3495	24	43	,	,	PUNCT
ajfa-3495	24	44	executed	execute	VERB
ajfa-3495	24	45	an	an	DET
ajfa-3495	24	46	instructional	instructional	ADJ
ajfa-3495	24	47	research	research	NOUN
ajfa-3495	24	48	in	in	ADP
ajfa-3495	24	49	identifying	identify	VERB
ajfa-3495	24	50	the	the	DET
ajfa-3495	24	51	determinants	determinant	NOUN
ajfa-3495	24	52	of	of	ADP
ajfa-3495	24	53	capital	capital	NOUN
ajfa-3495	24	54	structure	structure	NOUN
ajfa-3495	24	55	.	.	PUNCT
ajfa-3495	25	1	thereafter	thereafter	ADV
ajfa-3495	25	2	,	,	PUNCT
ajfa-3495	25	3	many	many	ADJ
ajfa-3495	25	4	researchers	researcher	NOUN
ajfa-3495	25	5	have	have	AUX
ajfa-3495	25	6	been	be	AUX
ajfa-3495	25	7	conducted	conduct	VERB
ajfa-3495	25	8	in	in	ADP
ajfa-3495	25	9	the	the	DET
ajfa-3495	25	10	developed	develop	VERB
ajfa-3495	25	11	country	country	NOUN
ajfa-3495	25	12	such	such	ADJ
ajfa-3495	25	13	as	as	ADP
ajfa-3495	25	14	rajan	rajan	PROPN
ajfa-3495	25	15	and	and	CCONJ
ajfa-3495	25	16	zingales	zingales	PROPN
ajfa-3495	25	17	(	(	PUNCT
ajfa-3495	25	18	1995	1995	NUM
ajfa-3495	25	19	)	)	PUNCT
ajfa-3495	25	20	(	(	PUNCT
ajfa-3495	25	21	the	the	DET
ajfa-3495	25	22	g-7	g-7	NOUN
ajfa-3495	25	23	countries	country	NOUN
ajfa-3495	25	24	)	)	PUNCT
ajfa-3495	25	25	,	,	PUNCT
ajfa-3495	25	26	akhtar	akhtar	NOUN
ajfa-3495	25	27	(	(	PUNCT
ajfa-3495	25	28	2005	2005	NUM
ajfa-3495	25	29	)	)	PUNCT
ajfa-3495	25	30	(	(	PUNCT
ajfa-3495	25	31	australia	australia	PROPN
ajfa-3495	25	32	)	)	PUNCT
ajfa-3495	25	33	,	,	PUNCT
ajfa-3495	25	34	and	and	CCONJ
ajfa-3495	25	35	akhtar	akhtar	PROPN
ajfa-3495	25	36	and	and	CCONJ
ajfa-3495	25	37	oliver	oliver	PROPN
ajfa-3495	25	38	(	(	PUNCT
ajfa-3495	25	39	2009	2009	NUM
ajfa-3495	25	40	)	)	PUNCT
ajfa-3495	25	41	(	(	PUNCT
ajfa-3495	25	42	japan	japan	PROPN
ajfa-3495	25	43	)	)	PUNCT
ajfa-3495	25	44	.	.	PUNCT
ajfa-3495	26	1	as	as	ADP
ajfa-3495	26	2	a	a	DET
ajfa-3495	26	3	developing	develop	VERB
ajfa-3495	26	4	country	country	NOUN
ajfa-3495	26	5	bangladesh	bangladesh	NOUN
ajfa-3495	26	6	has	have	AUX
ajfa-3495	26	7	become	become	VERB
ajfa-3495	26	8	an	an	DET
ajfa-3495	26	9	emerging	emerge	VERB
ajfa-3495	26	10	market	market	NOUN
ajfa-3495	26	11	with	with	ADP
ajfa-3495	26	12	a	a	DET
ajfa-3495	26	13	lot	lot	NOUN
ajfa-3495	26	14	of	of	ADP
ajfa-3495	26	15	potential	potential	NOUN
ajfa-3495	26	16	of	of	ADP
ajfa-3495	26	17	investment	investment	NOUN
ajfa-3495	26	18	that	that	PRON
ajfa-3495	26	19	gets	get	VERB
ajfa-3495	26	20	an	an	DET
ajfa-3495	26	21	attention	attention	NOUN
ajfa-3495	26	22	for	for	SCONJ
ajfa-3495	26	23	investors	investor	NOUN
ajfa-3495	26	24	and	and	CCONJ
ajfa-3495	26	25	managers	manager	NOUN
ajfa-3495	26	26	to	to	PART
ajfa-3495	26	27	rethink	rethink	VERB
ajfa-3495	26	28	about	about	ADP
ajfa-3495	26	29	the	the	DET
ajfa-3495	26	30	influencing	influence	VERB
ajfa-3495	26	31	factors	factor	NOUN
ajfa-3495	26	32	of	of	ADP
ajfa-3495	26	33	using	use	VERB
ajfa-3495	26	34	debt	debt	NOUN
ajfa-3495	26	35	and	and	CCONJ
ajfa-3495	26	36	their	their	PRON
ajfa-3495	26	37	extent	extent	NOUN
ajfa-3495	26	38	of	of	ADP
ajfa-3495	26	39	influence	influence	NOUN
ajfa-3495	26	40	over	over	ADP
ajfa-3495	26	41	firms	firm	NOUN
ajfa-3495	26	42	.	.	PUNCT
ajfa-3495	27	1	although	although	SCONJ
ajfa-3495	27	2	there	there	PRON
ajfa-3495	27	3	have	have	AUX
ajfa-3495	27	4	been	be	AUX
ajfa-3495	27	5	small	small	ADJ
ajfa-3495	27	6	numbers	number	NOUN
ajfa-3495	27	7	of	of	ADP
ajfa-3495	27	8	research	research	NOUN
ajfa-3495	27	9	in	in	ADP
ajfa-3495	27	10	bangladesh	bangladesh	NOUN
ajfa-3495	27	11	focusing	focus	VERB
ajfa-3495	27	12	on	on	ADP
ajfa-3495	27	13	the	the	DET
ajfa-3495	27	14	primary	primary	ADJ
ajfa-3495	27	15	determinants	determinant	NOUN
ajfa-3495	27	16	of	of	ADP
ajfa-3495	27	17	capital	capital	NOUN
ajfa-3495	27	18	structure	structure	NOUN
ajfa-3495	27	19	such	such	ADJ
ajfa-3495	27	20	as	as	ADP
ajfa-3495	27	21	chowdhury	chowdhury	PROPN
ajfa-3495	27	22	mu	mu	PROPN
ajfa-3495	27	23	.	.	PUNCT
ajfa-3495	28	1	(	(	PUNCT
ajfa-3495	28	2	2004	2004	NUM
ajfa-3495	28	3	)	)	PUNCT
ajfa-3495	28	4	,	,	PUNCT
ajfa-3495	28	5	lima	lima	PROPN
ajfa-3495	28	6	m.	m.	NOUN
ajfa-3495	28	7	(	(	PUNCT
ajfa-3495	28	8	2009	2009	NUM
ajfa-3495	28	9	)	)	PUNCT
ajfa-3495	28	10	,	,	PUNCT
ajfa-3495	28	11	and	and	CCONJ
ajfa-3495	28	12	sayeed	sayeed	PROPN
ajfa-3495	28	13	m.a	m.a	PROPN
ajfa-3495	28	14	.	.	PROPN
ajfa-3495	28	15	(	(	PUNCT
ajfa-3495	28	16	2011	2011	NUM
ajfa-3495	28	17	)	)	PUNCT
ajfa-3495	28	18	,	,	PUNCT
ajfa-3495	28	19	there	there	PRON
ajfa-3495	28	20	is	be	VERB
ajfa-3495	28	21	still	still	ADV
ajfa-3495	28	22	disagreement	disagreement	ADJ
ajfa-3495	28	23	regarding	regard	VERB
ajfa-3495	28	24	which	which	DET
ajfa-3495	28	25	factors	factor	NOUN
ajfa-3495	28	26	have	have	AUX
ajfa-3495	28	27	significant	significant	ADJ
ajfa-3495	28	28	impact	impact	NOUN
ajfa-3495	28	29	in	in	ADP
ajfa-3495	28	30	determining	determine	VERB
ajfa-3495	28	31	a	a	DET
ajfa-3495	28	32	firm	firm	NOUN
ajfa-3495	28	33	's	's	PART
ajfa-3495	28	34	capital	capital	NOUN
ajfa-3495	28	35	structure	structure	NOUN
ajfa-3495	28	36	.	.	PUNCT
ajfa-3495	29	1	nevertheless	nevertheless	ADV
ajfa-3495	29	2	,	,	PUNCT
ajfa-3495	29	3	an	an	DET
ajfa-3495	29	4	important	important	ADJ
ajfa-3495	29	5	factors	factor	NOUN
ajfa-3495	29	6	affecting	affect	VERB
ajfa-3495	29	7	capital	capital	NOUN
ajfa-3495	29	8	structure	structure	NOUN
ajfa-3495	29	9	determination	determination	NOUN
ajfa-3495	29	10	of	of	ADP
ajfa-3495	29	11	a	a	DET
ajfa-3495	29	12	firm	firm	NOUN
ajfa-3495	29	13	in	in	ADP
ajfa-3495	29	14	developed	develop	VERB
ajfa-3495	29	15	country	country	NOUN
ajfa-3495	29	16	may	may	AUX
ajfa-3495	29	17	not	not	PART
ajfa-3495	29	18	be	be	AUX
ajfa-3495	29	19	equally	equally	ADV
ajfa-3495	29	20	important	important	ADJ
ajfa-3495	29	21	to	to	ADP
ajfa-3495	29	22	a	a	DET
ajfa-3495	29	23	firm	firm	NOUN
ajfa-3495	29	24	in	in	ADP
ajfa-3495	29	25	developing	develop	VERB
ajfa-3495	29	26	country	country	NOUN
ajfa-3495	29	27	like	like	ADP
ajfa-3495	29	28	bangladesh	bangladesh	NOUN
ajfa-3495	29	29	.	.	PUNCT
ajfa-3495	30	1	furthermore	furthermore	ADV
ajfa-3495	30	2	,	,	PUNCT
ajfa-3495	30	3	all	all	DET
ajfa-3495	30	4	possible	possible	ADJ
ajfa-3495	30	5	factors	factor	NOUN
ajfa-3495	30	6	affecting	affect	VERB
ajfa-3495	30	7	capital	capital	NOUN
ajfa-3495	30	8	asian	asian	ADJ
ajfa-3495	30	9	journal	journal	NOUN
ajfa-3495	30	10	of	of	ADP
ajfa-3495	30	11	finance	finance	PROPN
ajfa-3495	30	12	&	&	CCONJ
ajfa-3495	30	13	accounting	accounting	PROPN
ajfa-3495	30	14	issn	issn	PROPN
ajfa-3495	30	15	1946	1946	NUM
ajfa-3495	30	16	-	-	PUNCT
ajfa-3495	30	17	052x	052x	NOUN
ajfa-3495	30	18	2013	2013	NUM
ajfa-3495	30	19	,	,	PUNCT
ajfa-3495	30	20	vol	vol	NOUN
ajfa-3495	30	21	.	.	PROPN
ajfa-3495	30	22	5	5	NUM
ajfa-3495	30	23	,	,	PUNCT
ajfa-3495	30	24	no	no	INTJ
ajfa-3495	30	25	.	.	NOUN
ajfa-3495	30	26	1	1	NUM
ajfa-3495	30	27	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-3495	30	28	322	322	NUM
ajfa-3495	30	29	structure	structure	NOUN
ajfa-3495	30	30	decision	decision	NOUN
ajfa-3495	30	31	have	have	AUX
ajfa-3495	30	32	not	not	PART
ajfa-3495	30	33	been	be	AUX
ajfa-3495	30	34	considered	consider	VERB
ajfa-3495	30	35	in	in	ADP
ajfa-3495	30	36	a	a	DET
ajfa-3495	30	37	research	research	NOUN
ajfa-3495	30	38	at	at	ADP
ajfa-3495	30	39	a	a	DET
ajfa-3495	30	40	time	time	NOUN
ajfa-3495	30	41	and	and	CCONJ
ajfa-3495	30	42	that	that	PRON
ajfa-3495	30	43	is	be	AUX
ajfa-3495	30	44	why	why	SCONJ
ajfa-3495	30	45	some	some	DET
ajfa-3495	30	46	factors	factor	NOUN
ajfa-3495	30	47	are	be	AUX
ajfa-3495	30	48	still	still	ADV
ajfa-3495	30	49	important	important	ADJ
ajfa-3495	30	50	to	to	PART
ajfa-3495	30	51	further	far	ADV
ajfa-3495	30	52	use	use	VERB
ajfa-3495	30	53	in	in	ADP
ajfa-3495	30	54	measuring	measure	VERB
ajfa-3495	30	55	their	their	PRON
ajfa-3495	30	56	impact	impact	NOUN
ajfa-3495	30	57	on	on	ADP
ajfa-3495	30	58	capital	capital	NOUN
ajfa-3495	30	59	structure	structure	NOUN
ajfa-3495	30	60	determination	determination	NOUN
ajfa-3495	30	61	and	and	CCONJ
ajfa-3495	30	62	there	there	PRON
ajfa-3495	30	63	is	be	VERB
ajfa-3495	30	64	a	a	DET
ajfa-3495	30	65	need	need	NOUN
ajfa-3495	30	66	to	to	PART
ajfa-3495	30	67	bridge	bridge	VERB
ajfa-3495	30	68	between	between	ADP
ajfa-3495	30	69	current	current	ADJ
ajfa-3495	30	70	study	study	NOUN
ajfa-3495	30	71	and	and	CCONJ
ajfa-3495	30	72	capital	capital	NOUN
ajfa-3495	30	73	structure	structure	NOUN
ajfa-3495	30	74	theory	theory	NOUN
ajfa-3495	30	75	.	.	PUNCT
ajfa-3495	31	1	this	this	DET
ajfa-3495	31	2	study	study	NOUN
ajfa-3495	31	3	extends	extend	VERB
ajfa-3495	31	4	the	the	DET
ajfa-3495	31	5	existing	exist	VERB
ajfa-3495	31	6	literature	literature	NOUN
ajfa-3495	31	7	by	by	ADP
ajfa-3495	31	8	analyzing	analyze	VERB
ajfa-3495	31	9	the	the	DET
ajfa-3495	31	10	factors	factor	NOUN
ajfa-3495	31	11	affecting	affect	VERB
ajfa-3495	31	12	capital	capital	NOUN
ajfa-3495	31	13	structure	structure	NOUN
ajfa-3495	31	14	decision	decision	NOUN
ajfa-3495	31	15	on	on	ADP
ajfa-3495	31	16	44	44	NUM
ajfa-3495	31	17	listed	list	VERB
ajfa-3495	31	18	companies	company	NOUN
ajfa-3495	31	19	in	in	ADP
ajfa-3495	31	20	the	the	DET
ajfa-3495	31	21	dhaka	dhaka	PROPN
ajfa-3495	31	22	stock	stock	PROPN
ajfa-3495	31	23	exchange	exchange	PROPN
ajfa-3495	31	24	by	by	ADP
ajfa-3495	31	25	using	use	VERB
ajfa-3495	31	26	the	the	DET
ajfa-3495	31	27	panel	panel	NOUN
ajfa-3495	31	28	data	data	NOUN
ajfa-3495	31	29	models	model	NOUN
ajfa-3495	31	30	over	over	ADP
ajfa-3495	31	31	the	the	DET
ajfa-3495	31	32	periods	period	NOUN
ajfa-3495	31	33	2004	2004	NUM
ajfa-3495	31	34	-	-	SYM
ajfa-3495	31	35	2011	2011	NUM
ajfa-3495	31	36	.	.	PUNCT
ajfa-3495	32	1	this	this	DET
ajfa-3495	32	2	study	study	NOUN
ajfa-3495	32	3	is	be	AUX
ajfa-3495	32	4	different	different	ADJ
ajfa-3495	32	5	from	from	ADP
ajfa-3495	32	6	others	other	NOUN
ajfa-3495	32	7	because	because	SCONJ
ajfa-3495	32	8	it	it	PRON
ajfa-3495	32	9	considers	consider	VERB
ajfa-3495	32	10	some	some	DET
ajfa-3495	32	11	firm	firm	NOUN
ajfa-3495	32	12	’s	’s	PART
ajfa-3495	32	13	specific	specific	ADJ
ajfa-3495	32	14	factors	factor	NOUN
ajfa-3495	32	15	that	that	PRON
ajfa-3495	32	16	have	have	AUX
ajfa-3495	32	17	not	not	PART
ajfa-3495	32	18	been	be	AUX
ajfa-3495	32	19	used	use	VERB
ajfa-3495	32	20	yet	yet	ADV
ajfa-3495	32	21	in	in	ADP
ajfa-3495	32	22	bangladesh	bangladesh	NOUN
ajfa-3495	32	23	.	.	PUNCT
ajfa-3495	33	1	this	this	DET
ajfa-3495	33	2	study	study	NOUN
ajfa-3495	33	3	attempts	attempt	VERB
ajfa-3495	33	4	to	to	PART
ajfa-3495	33	5	analyze	analyze	VERB
ajfa-3495	33	6	the	the	DET
ajfa-3495	33	7	impact	impact	NOUN
ajfa-3495	33	8	of	of	ADP
ajfa-3495	33	9	firm	firm	ADJ
ajfa-3495	33	10	specific	specific	ADJ
ajfa-3495	33	11	factors	factor	NOUN
ajfa-3495	33	12	on	on	ADP
ajfa-3495	33	13	capital	capital	NOUN
ajfa-3495	33	14	structure	structure	NOUN
ajfa-3495	33	15	decision	decision	NOUN
ajfa-3495	33	16	in	in	ADP
ajfa-3495	33	17	a	a	DET
ajfa-3495	33	18	systemic	systemic	ADJ
ajfa-3495	33	19	manner	manner	NOUN
ajfa-3495	33	20	and	and	CCONJ
ajfa-3495	33	21	provides	provide	VERB
ajfa-3495	33	22	practical	practical	ADJ
ajfa-3495	33	23	and	and	CCONJ
ajfa-3495	33	24	applicable	applicable	ADJ
ajfa-3495	33	25	guideline	guideline	NOUN
ajfa-3495	33	26	for	for	ADP
ajfa-3495	33	27	anyone	anyone	PRON
ajfa-3495	33	28	who	who	PRON
ajfa-3495	33	29	wants	want	VERB
ajfa-3495	33	30	to	to	PART
ajfa-3495	33	31	have	have	VERB
ajfa-3495	33	32	insight	insight	NOUN
ajfa-3495	33	33	of	of	ADP
ajfa-3495	33	34	the	the	DET
ajfa-3495	33	35	topic	topic	NOUN
ajfa-3495	33	36	.	.	PUNCT
ajfa-3495	34	1	therefore	therefore	ADV
ajfa-3495	34	2	,	,	PUNCT
ajfa-3495	34	3	this	this	DET
ajfa-3495	34	4	study	study	NOUN
ajfa-3495	34	5	provides	provide	VERB
ajfa-3495	34	6	further	further	ADJ
ajfa-3495	34	7	evidence	evidence	NOUN
ajfa-3495	34	8	of	of	ADP
ajfa-3495	34	9	the	the	DET
ajfa-3495	34	10	capital	capital	NOUN
ajfa-3495	34	11	structure	structure	NOUN
ajfa-3495	34	12	theories	theory	NOUN
ajfa-3495	34	13	pertaining	pertain	VERB
ajfa-3495	34	14	to	to	ADP
ajfa-3495	34	15	a	a	DET
ajfa-3495	34	16	developing	develop	VERB
ajfa-3495	34	17	country	country	NOUN
ajfa-3495	34	18	.	.	PUNCT
ajfa-3495	35	1	the	the	DET
ajfa-3495	35	2	rest	rest	NOUN
ajfa-3495	35	3	of	of	ADP
ajfa-3495	35	4	this	this	DET
ajfa-3495	35	5	paper	paper	NOUN
ajfa-3495	35	6	proceeds	proceed	NOUN
ajfa-3495	35	7	as	as	SCONJ
ajfa-3495	35	8	follows	follow	VERB
ajfa-3495	35	9	.	.	PUNCT
ajfa-3495	36	1	section	section	NOUN
ajfa-3495	36	2	2	2	NUM
ajfa-3495	36	3	summarizes	summarize	NOUN
ajfa-3495	36	4	the	the	DET
ajfa-3495	36	5	literature	literature	NOUN
ajfa-3495	36	6	on	on	ADP
ajfa-3495	36	7	the	the	DET
ajfa-3495	36	8	capital	capital	NOUN
ajfa-3495	36	9	structure	structure	NOUN
ajfa-3495	36	10	.	.	PUNCT
ajfa-3495	37	1	section	section	NOUN
ajfa-3495	37	2	3	3	NUM
ajfa-3495	37	3	describes	describe	VERB
ajfa-3495	37	4	the	the	DET
ajfa-3495	37	5	determinants	determinant	NOUN
ajfa-3495	37	6	of	of	ADP
ajfa-3495	37	7	capital	capital	NOUN
ajfa-3495	37	8	structure	structure	NOUN
ajfa-3495	37	9	.	.	PUNCT
ajfa-3495	38	1	section	section	NOUN
ajfa-3495	38	2	4	4	NUM
ajfa-3495	38	3	and	and	CCONJ
ajfa-3495	38	4	5	5	NUM
ajfa-3495	38	5	describes	describe	VERB
ajfa-3495	38	6	objective	objective	NOUN
ajfa-3495	38	7	and	and	CCONJ
ajfa-3495	38	8	hypothesis	hypothesis	NOUN
ajfa-3495	38	9	of	of	ADP
ajfa-3495	38	10	this	this	DET
ajfa-3495	38	11	study	study	NOUN
ajfa-3495	38	12	.	.	PUNCT
ajfa-3495	39	1	methodology	methodology	NOUN
ajfa-3495	39	2	of	of	ADP
ajfa-3495	39	3	this	this	DET
ajfa-3495	39	4	study	study	NOUN
ajfa-3495	39	5	shown	show	VERB
ajfa-3495	39	6	is	be	AUX
ajfa-3495	39	7	section	section	NOUN
ajfa-3495	39	8	6	6	NUM
ajfa-3495	39	9	.	.	PUNCT
ajfa-3495	40	1	the	the	DET
ajfa-3495	40	2	analysis	analysis	NOUN
ajfa-3495	40	3	and	and	CCONJ
ajfa-3495	40	4	results	result	NOUN
ajfa-3495	40	5	are	be	AUX
ajfa-3495	40	6	presented	present	VERB
ajfa-3495	40	7	in	in	ADP
ajfa-3495	40	8	section	section	NOUN
ajfa-3495	40	9	7	7	NUM
ajfa-3495	40	10	.	.	PUNCT
ajfa-3495	41	1	finally	finally	ADV
ajfa-3495	41	2	,	,	PUNCT
ajfa-3495	41	3	section	section	NOUN
ajfa-3495	41	4	8	8	NUM
ajfa-3495	41	5	concludes	conclude	VERB
ajfa-3495	41	6	the	the	DET
ajfa-3495	41	7	paper	paper	NOUN
ajfa-3495	41	8	.	.	PUNCT
ajfa-3495	42	1	2	2	X
ajfa-3495	42	2	.	.	X
ajfa-3495	42	3	theoritical	theoritical	ADJ
ajfa-3495	42	4	discussion	discussion	NOUN
ajfa-3495	42	5	since	since	SCONJ
ajfa-3495	42	6	the	the	DET
ajfa-3495	42	7	work	work	NOUN
ajfa-3495	42	8	of	of	ADP
ajfa-3495	42	9	modigliani	modigliani	PROPN
ajfa-3495	42	10	and	and	CCONJ
ajfa-3495	42	11	miller	miller	PROPN
ajfa-3495	42	12	(	(	PUNCT
ajfa-3495	42	13	1958	1958	NUM
ajfa-3495	42	14	)	)	PUNCT
ajfa-3495	42	15	on	on	ADP
ajfa-3495	42	16	the	the	DET
ajfa-3495	42	17	irrelevance	irrelevance	NOUN
ajfa-3495	42	18	of	of	ADP
ajfa-3495	42	19	capital	capital	NOUN
ajfa-3495	42	20	structure	structure	NOUN
ajfa-3495	42	21	to	to	ADP
ajfa-3495	42	22	firm	firm	ADJ
ajfa-3495	42	23	value	value	NOUN
ajfa-3495	42	24	,	,	PUNCT
ajfa-3495	42	25	theoretical	theoretical	ADJ
ajfa-3495	42	26	and	and	CCONJ
ajfa-3495	42	27	empirical	empirical	ADJ
ajfa-3495	42	28	analyses	analysis	NOUN
ajfa-3495	42	29	have	have	AUX
ajfa-3495	42	30	been	be	AUX
ajfa-3495	42	31	developed	develop	VERB
ajfa-3495	42	32	to	to	PART
ajfa-3495	42	33	discuss	discuss	VERB
ajfa-3495	42	34	the	the	DET
ajfa-3495	42	35	determinants	determinant	NOUN
ajfa-3495	42	36	of	of	ADP
ajfa-3495	42	37	corporate	corporate	ADJ
ajfa-3495	42	38	financing	financing	NOUN
ajfa-3495	42	39	decisions	decision	NOUN
ajfa-3495	42	40	in	in	ADP
ajfa-3495	42	41	practice	practice	NOUN
ajfa-3495	42	42	.	.	PUNCT
ajfa-3495	43	1	this	this	DET
ajfa-3495	43	2	research	research	NOUN
ajfa-3495	43	3	has	have	AUX
ajfa-3495	43	4	generally	generally	ADV
ajfa-3495	43	5	followed	follow	VERB
ajfa-3495	43	6	traditional	traditional	ADJ
ajfa-3495	43	7	finance	finance	NOUN
ajfa-3495	43	8	theory	theory	NOUN
ajfa-3495	43	9	and	and	CCONJ
ajfa-3495	43	10	comprises	comprise	VERB
ajfa-3495	43	11	the	the	DET
ajfa-3495	43	12	trade	trade	NOUN
ajfa-3495	43	13	-	-	PUNCT
ajfa-3495	43	14	off	off	ADP
ajfa-3495	43	15	theory	theory	NOUN
ajfa-3495	43	16	,	,	PUNCT
ajfa-3495	43	17	the	the	DET
ajfa-3495	43	18	pecking	pecking	NOUN
ajfa-3495	43	19	-	-	PUNCT
ajfa-3495	43	20	order	order	NOUN
ajfa-3495	43	21	theory	theory	NOUN
ajfa-3495	43	22	and	and	CCONJ
ajfa-3495	43	23	more	more	ADJ
ajfa-3495	43	24	recently	recently	ADV
ajfa-3495	43	25	the	the	DET
ajfa-3495	43	26	market	market	NOUN
ajfa-3495	43	27	timing	timing	NOUN
ajfa-3495	43	28	theory	theory	NOUN
ajfa-3495	43	29	.	.	PUNCT
ajfa-3495	44	1	however	however	ADV
ajfa-3495	44	2	,	,	PUNCT
ajfa-3495	44	3	there	there	PRON
ajfa-3495	44	4	is	be	VERB
ajfa-3495	44	5	no	no	DET
ajfa-3495	44	6	universal	universal	ADJ
ajfa-3495	44	7	theory	theory	NOUN
ajfa-3495	44	8	of	of	ADP
ajfa-3495	44	9	capital	capital	NOUN
ajfa-3495	44	10	structure	structure	NOUN
ajfa-3495	44	11	and	and	CCONJ
ajfa-3495	44	12	no	no	DET
ajfa-3495	44	13	reason	reason	NOUN
ajfa-3495	44	14	to	to	PART
ajfa-3495	44	15	expect	expect	VERB
ajfa-3495	44	16	one	one	NUM
ajfa-3495	44	17	(	(	PUNCT
ajfa-3495	44	18	frank	frank	ADJ
ajfa-3495	44	19	and	and	CCONJ
ajfa-3495	44	20	goyal	goyal	PROPN
ajfa-3495	44	21	,	,	PUNCT
ajfa-3495	44	22	2004	2004	NUM
ajfa-3495	44	23	)	)	PUNCT
ajfa-3495	44	24	.	.	PUNCT
ajfa-3495	45	1	the	the	DET
ajfa-3495	45	2	trade	trade	NOUN
ajfa-3495	45	3	-	-	PUNCT
ajfa-3495	45	4	off	off	ADP
ajfa-3495	45	5	theory	theory	NOUN
ajfa-3495	45	6	argues	argue	VERB
ajfa-3495	45	7	that	that	SCONJ
ajfa-3495	45	8	a	a	DET
ajfa-3495	45	9	firm	firm	NOUN
ajfa-3495	45	10	’s	’s	PART
ajfa-3495	45	11	optimal	optimal	ADJ
ajfa-3495	45	12	capital	capital	NOUN
ajfa-3495	45	13	structure	structure	NOUN
ajfa-3495	45	14	results	result	NOUN
ajfa-3495	45	15	from	from	ADP
ajfa-3495	45	16	a	a	DET
ajfa-3495	45	17	tradeoff	tradeoff	NOUN
ajfa-3495	45	18	between	between	ADP
ajfa-3495	45	19	tax	tax	NOUN
ajfa-3495	45	20	advantages	advantage	NOUN
ajfa-3495	45	21	of	of	ADP
ajfa-3495	45	22	debt	debt	NOUN
ajfa-3495	45	23	and	and	CCONJ
ajfa-3495	45	24	bankruptcy	bankruptcy	NOUN
ajfa-3495	45	25	costs	cost	NOUN
ajfa-3495	45	26	of	of	ADP
ajfa-3495	45	27	debts	debt	NOUN
ajfa-3495	45	28	(	(	PUNCT
ajfa-3495	45	29	miller	miller	PROPN
ajfa-3495	45	30	,	,	PUNCT
ajfa-3495	45	31	1977	1977	NUM
ajfa-3495	45	32	)	)	PUNCT
ajfa-3495	45	33	.	.	PUNCT
ajfa-3495	46	1	according	accord	VERB
ajfa-3495	46	2	to	to	ADP
ajfa-3495	46	3	the	the	DET
ajfa-3495	46	4	pecking	pecking	NOUN
ajfa-3495	46	5	-	-	PUNCT
ajfa-3495	46	6	order	order	NOUN
ajfa-3495	46	7	theory	theory	NOUN
ajfa-3495	46	8	,	,	PUNCT
ajfa-3495	46	9	formalized	formalize	VERB
ajfa-3495	46	10	by	by	ADP
ajfa-3495	46	11	myers	myer	NOUN
ajfa-3495	46	12	and	and	CCONJ
ajfa-3495	46	13	majluf	majluf	PROPN
ajfa-3495	46	14	(	(	PUNCT
ajfa-3495	46	15	1984	1984	NUM
ajfa-3495	46	16	)	)	PUNCT
ajfa-3495	46	17	and	and	CCONJ
ajfa-3495	46	18	myers	myers	PROPN
ajfa-3495	46	19	(	(	PUNCT
ajfa-3495	46	20	1984	1984	NUM
ajfa-3495	46	21	)	)	PUNCT
ajfa-3495	46	22	,	,	PUNCT
ajfa-3495	46	23	there	there	PRON
ajfa-3495	46	24	is	be	VERB
ajfa-3495	46	25	a	a	DET
ajfa-3495	46	26	hierarchy	hierarchy	NOUN
ajfa-3495	46	27	in	in	ADP
ajfa-3495	46	28	manager	manager	NOUN
ajfa-3495	46	29	financing	financing	NOUN
ajfa-3495	46	30	choices	choice	NOUN
ajfa-3495	46	31	.	.	PUNCT
ajfa-3495	47	1	external	external	ADJ
ajfa-3495	47	2	financing	financing	NOUN
ajfa-3495	47	3	transaction	transaction	NOUN
ajfa-3495	47	4	costs	cost	NOUN
ajfa-3495	47	5	,	,	PUNCT
ajfa-3495	47	6	especially	especially	ADV
ajfa-3495	47	7	those	those	PRON
ajfa-3495	47	8	associated	associate	VERB
ajfa-3495	47	9	with	with	ADP
ajfa-3495	47	10	adverse	adverse	ADJ
ajfa-3495	47	11	selection	selection	NOUN
ajfa-3495	47	12	,	,	PUNCT
ajfa-3495	47	13	result	result	VERB
ajfa-3495	47	14	in	in	ADP
ajfa-3495	47	15	managers	manager	NOUN
ajfa-3495	47	16	having	have	VERB
ajfa-3495	47	17	a	a	DET
ajfa-3495	47	18	preference	preference	NOUN
ajfa-3495	47	19	for	for	ADP
ajfa-3495	47	20	internal	internal	ADJ
ajfa-3495	47	21	financing	financing	NOUN
ajfa-3495	47	22	,	,	PUNCT
ajfa-3495	47	23	and	and	CCONJ
ajfa-3495	47	24	then	then	ADV
ajfa-3495	47	25	new	new	ADJ
ajfa-3495	47	26	debt	debt	NOUN
ajfa-3495	47	27	and	and	CCONJ
ajfa-3495	47	28	finally	finally	ADV
ajfa-3495	47	29	new	new	ADJ
ajfa-3495	47	30	equity	equity	NOUN
ajfa-3495	47	31	financing	financing	NOUN
ajfa-3495	47	32	.	.	PUNCT
ajfa-3495	48	1	regarding	regard	VERB
ajfa-3495	48	2	the	the	DET
ajfa-3495	48	3	market	market	NOUN
ajfa-3495	48	4	timing	timing	NOUN
ajfa-3495	48	5	theory	theory	NOUN
ajfa-3495	48	6	,	,	PUNCT
ajfa-3495	48	7	managers	manager	NOUN
ajfa-3495	48	8	will	will	AUX
ajfa-3495	48	9	issue	issue	VERB
ajfa-3495	48	10	equity	equity	NOUN
ajfa-3495	48	11	when	when	SCONJ
ajfa-3495	48	12	the	the	DET
ajfa-3495	48	13	firm	firm	NOUN
ajfa-3495	48	14	’s	’s	PART
ajfa-3495	48	15	market	market	NOUN
ajfa-3495	48	16	value	value	NOUN
ajfa-3495	48	17	relative	relative	ADJ
ajfa-3495	48	18	to	to	ADP
ajfa-3495	48	19	book	book	NOUN
ajfa-3495	48	20	value	value	NOUN
ajfa-3495	48	21	is	be	AUX
ajfa-3495	48	22	high	high	ADJ
ajfa-3495	48	23	and	and	CCONJ
ajfa-3495	48	24	they	they	PRON
ajfa-3495	48	25	will	will	AUX
ajfa-3495	48	26	issue	issue	VERB
ajfa-3495	48	27	debt	debt	NOUN
ajfa-3495	48	28	when	when	SCONJ
ajfa-3495	48	29	the	the	DET
ajfa-3495	48	30	debt	debt	NOUN
ajfa-3495	48	31	market	market	NOUN
ajfa-3495	48	32	conditions	condition	NOUN
ajfa-3495	48	33	are	be	AUX
ajfa-3495	48	34	perceived	perceive	VERB
ajfa-3495	48	35	relatively	relatively	ADV
ajfa-3495	48	36	more	more	ADV
ajfa-3495	48	37	favorable	favorable	ADJ
ajfa-3495	48	38	(	(	PUNCT
ajfa-3495	48	39	see	see	PROPN
ajfa-3495	48	40	myers	myer	NOUN
ajfa-3495	48	41	,	,	PUNCT
ajfa-3495	48	42	1984	1984	NUM
ajfa-3495	48	43	;	;	PUNCT
ajfa-3495	48	44	graham	graham	PROPN
ajfa-3495	48	45	and	and	CCONJ
ajfa-3495	48	46	harvey	harvey	PROPN
ajfa-3495	48	47	,	,	PUNCT
ajfa-3495	48	48	2001	2001	NUM
ajfa-3495	48	49	;	;	PUNCT
ajfa-3495	48	50	hovakimian	hovakimian	ADJ
ajfa-3495	48	51	,	,	PUNCT
ajfa-3495	48	52	opler	opler	ADJ
ajfa-3495	48	53	and	and	CCONJ
ajfa-3495	48	54	titman	titman	NOUN
ajfa-3495	48	55	,	,	PUNCT
ajfa-3495	48	56	2001	2001	NUM
ajfa-3495	48	57	)	)	PUNCT
ajfa-3495	48	58	.	.	PUNCT
ajfa-3495	49	1	intensive	intensive	ADJ
ajfa-3495	49	2	empirical	empirical	ADJ
ajfa-3495	49	3	research	research	NOUN
ajfa-3495	49	4	has	have	AUX
ajfa-3495	49	5	been	be	AUX
ajfa-3495	49	6	conducted	conduct	VERB
ajfa-3495	49	7	to	to	PART
ajfa-3495	49	8	test	test	VERB
ajfa-3495	49	9	the	the	DET
ajfa-3495	49	10	predictions	prediction	NOUN
ajfa-3495	49	11	of	of	ADP
ajfa-3495	49	12	these	these	DET
ajfa-3495	49	13	theories	theory	NOUN
ajfa-3495	49	14	(	(	PUNCT
ajfa-3495	49	15	rajan	rajan	NOUN
ajfa-3495	49	16	and	and	CCONJ
ajfa-3495	49	17	zingales	zingale	NOUN
ajfa-3495	49	18	,	,	PUNCT
ajfa-3495	49	19	1995	1995	NUM
ajfa-3495	49	20	;	;	PUNCT
ajfa-3495	49	21	shyam	shyam	PROPN
ajfa-3495	49	22	-	-	PUNCT
ajfa-3495	49	23	sunder	sunder	NOUN
ajfa-3495	49	24	and	and	CCONJ
ajfa-3495	49	25	myers	myer	NOUN
ajfa-3495	49	26	,	,	PUNCT
ajfa-3495	49	27	1999	1999	NUM
ajfa-3495	49	28	;	;	PUNCT
ajfa-3495	49	29	fama	fama	PROPN
ajfa-3495	49	30	and	and	CCONJ
ajfa-3495	49	31	french	french	NOUN
ajfa-3495	49	32	,	,	PUNCT
ajfa-3495	49	33	2002	2002	NUM
ajfa-3495	49	34	;	;	PUNCT
ajfa-3495	49	35	frank	frank	PROPN
ajfa-3495	49	36	and	and	CCONJ
ajfa-3495	49	37	goyal	goyal	PROPN
ajfa-3495	49	38	,	,	PUNCT
ajfa-3495	49	39	2003	2003	NUM
ajfa-3495	49	40	,	,	PUNCT
ajfa-3495	49	41	2004	2004	NUM
ajfa-3495	49	42	)	)	PUNCT
ajfa-3495	49	43	.	.	PUNCT
ajfa-3495	50	1	the	the	DET
ajfa-3495	50	2	theories	theory	NOUN
ajfa-3495	50	3	are	be	AUX
ajfa-3495	50	4	supported	support	VERB
ajfa-3495	50	5	in	in	ADP
ajfa-3495	50	6	the	the	DET
ajfa-3495	50	7	empirical	empirical	ADJ
ajfa-3495	50	8	research	research	NOUN
ajfa-3495	50	9	to	to	ADP
ajfa-3495	50	10	varying	vary	VERB
ajfa-3495	50	11	degrees	degree	NOUN
ajfa-3495	50	12	.	.	PUNCT
ajfa-3495	51	1	a	a	DET
ajfa-3495	51	2	nascent	nascent	ADJ
ajfa-3495	51	3	literature	literature	NOUN
ajfa-3495	51	4	recognizes	recognize	VERB
ajfa-3495	51	5	that	that	SCONJ
ajfa-3495	51	6	the	the	DET
ajfa-3495	51	7	bias	bias	NOUN
ajfa-3495	51	8	of	of	ADP
ajfa-3495	51	9	confidence	confidence	NOUN
ajfa-3495	51	10	is	be	AUX
ajfa-3495	51	11	a	a	DET
ajfa-3495	51	12	significant	significant	ADJ
ajfa-3495	51	13	determinant	determinant	NOUN
ajfa-3495	51	14	of	of	ADP
ajfa-3495	51	15	mangers	manger	NOUN
ajfa-3495	51	16	investment	investment	NOUN
ajfa-3495	51	17	and	and	CCONJ
ajfa-3495	51	18	financing	financing	NOUN
ajfa-3495	51	19	decisions	decision	NOUN
ajfa-3495	51	20	.	.	PUNCT
ajfa-3495	52	1	psychological	psychological	ADJ
ajfa-3495	52	2	studies	study	NOUN
ajfa-3495	52	3	document	document	VERB
ajfa-3495	52	4	that	that	SCONJ
ajfa-3495	52	5	confidence	confidence	NOUN
ajfa-3495	52	6	causes	cause	VERB
ajfa-3495	52	7	people	people	NOUN
ajfa-3495	52	8	to	to	PART
ajfa-3495	52	9	underestimate	underestimate	ADJ
ajfa-3495	52	10	risks	risk	NOUN
ajfa-3495	52	11	,	,	PUNCT
ajfa-3495	52	12	to	to	PART
ajfa-3495	52	13	be	be	AUX
ajfa-3495	52	14	more	more	ADV
ajfa-3495	52	15	certain	certain	ADJ
ajfa-3495	52	16	about	about	ADP
ajfa-3495	52	17	predictions	prediction	NOUN
ajfa-3495	52	18	and	and	CCONJ
ajfa-3495	52	19	to	to	PART
ajfa-3495	52	20	exaggerate	exaggerate	VERB
ajfa-3495	52	21	their	their	PRON
ajfa-3495	52	22	ability	ability	NOUN
ajfa-3495	52	23	to	to	PART
ajfa-3495	52	24	control	control	VERB
ajfa-3495	52	25	events	event	NOUN
ajfa-3495	52	26	(	(	PUNCT
ajfa-3495	52	27	see	see	VERB
ajfa-3495	52	28	gilovich	gilovich	PROPN
ajfa-3495	52	29	,	,	PUNCT
ajfa-3495	52	30	griffin	griffin	PROPN
ajfa-3495	52	31	and	and	CCONJ
ajfa-3495	52	32	kahneman	kahneman	NOUN
ajfa-3495	52	33	(	(	PUNCT
ajfa-3495	52	34	2002	2002	NUM
ajfa-3495	52	35	)	)	PUNCT
ajfa-3495	52	36	for	for	ADP
ajfa-3495	52	37	an	an	DET
ajfa-3495	52	38	overview	overview	NOUN
ajfa-3495	52	39	of	of	ADP
ajfa-3495	52	40	this	this	DET
ajfa-3495	52	41	area	area	NOUN
ajfa-3495	52	42	)	)	PUNCT
ajfa-3495	52	43	.	.	PUNCT
ajfa-3495	53	1	asian	asian	ADJ
ajfa-3495	53	2	journal	journal	PROPN
ajfa-3495	53	3	of	of	ADP
ajfa-3495	53	4	finance	finance	PROPN
ajfa-3495	53	5	&	&	CCONJ
ajfa-3495	53	6	accounting	accounting	PROPN
ajfa-3495	53	7	issn	issn	PROPN
ajfa-3495	53	8	1946	1946	NUM
ajfa-3495	53	9	-	-	PUNCT
ajfa-3495	53	10	052x	052x	NOUN
ajfa-3495	53	11	2013	2013	NUM
ajfa-3495	53	12	,	,	PUNCT
ajfa-3495	53	13	vol	vol	NOUN
ajfa-3495	53	14	.	.	PROPN
ajfa-3495	53	15	5	5	NUM
ajfa-3495	53	16	,	,	PUNCT
ajfa-3495	53	17	no	no	INTJ
ajfa-3495	53	18	.	.	NOUN
ajfa-3495	53	19	1	1	NUM
ajfa-3495	53	20	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-3495	53	21	323	323	NUM
ajfa-3495	53	22	heaton	heaton	NOUN
ajfa-3495	53	23	(	(	PUNCT
ajfa-3495	53	24	2002	2002	NUM
ajfa-3495	53	25	)	)	PUNCT
ajfa-3495	53	26	argues	argue	VERB
ajfa-3495	53	27	that	that	SCONJ
ajfa-3495	53	28	confident	confident	ADJ
ajfa-3495	53	29	managers	manager	NOUN
ajfa-3495	53	30	overestimate	overestimate	VERB
ajfa-3495	53	31	the	the	DET
ajfa-3495	53	32	futures	future	NOUN
ajfa-3495	53	33	cash	cash	NOUN
ajfa-3495	53	34	flows	flow	NOUN
ajfa-3495	53	35	and	and	CCONJ
ajfa-3495	53	36	so	so	ADV
ajfa-3495	53	37	the	the	DET
ajfa-3495	53	38	net	net	ADJ
ajfa-3495	53	39	present	present	ADJ
ajfa-3495	53	40	value	value	NOUN
ajfa-3495	53	41	(	(	PUNCT
ajfa-3495	53	42	npv	npv	NOUN
ajfa-3495	53	43	)	)	PUNCT
ajfa-3495	53	44	of	of	ADP
ajfa-3495	53	45	new	new	ADJ
ajfa-3495	53	46	investment	investment	NOUN
ajfa-3495	53	47	projects	project	NOUN
ajfa-3495	53	48	.	.	PUNCT
ajfa-3495	54	1	hackbarth	hackbarth	NOUN
ajfa-3495	54	2	(	(	PUNCT
ajfa-3495	54	3	2004	2004	NUM
ajfa-3495	54	4	)	)	PUNCT
ajfa-3495	54	5	develops	develop	VERB
ajfa-3495	54	6	a	a	DET
ajfa-3495	54	7	theoretical	theoretical	ADJ
ajfa-3495	54	8	model	model	NOUN
ajfa-3495	54	9	to	to	PART
ajfa-3495	54	10	study	study	VERB
ajfa-3495	54	11	the	the	DET
ajfa-3495	54	12	implications	implication	NOUN
ajfa-3495	54	13	of	of	ADP
ajfa-3495	54	14	managerial	managerial	ADJ
ajfa-3495	54	15	confidence	confidence	NOUN
ajfa-3495	54	16	for	for	ADP
ajfa-3495	54	17	financing	financing	NOUN
ajfa-3495	54	18	decisions	decision	NOUN
ajfa-3495	54	19	.	.	PUNCT
ajfa-3495	55	1	the	the	DET
ajfa-3495	55	2	model	model	NOUN
ajfa-3495	55	3	shows	show	VERB
ajfa-3495	55	4	that	that	SCONJ
ajfa-3495	55	5	optimistic	optimistic	ADJ
ajfa-3495	55	6	and	and	CCONJ
ajfa-3495	55	7	overconfident	overconfident	ADJ
ajfa-3495	55	8	managers	manager	NOUN
ajfa-3495	55	9	tend	tend	VERB
ajfa-3495	55	10	to	to	PART
ajfa-3495	55	11	choose	choose	VERB
ajfa-3495	55	12	higher	high	ADJ
ajfa-3495	55	13	debt	debt	NOUN
ajfa-3495	55	14	levels	level	NOUN
ajfa-3495	55	15	and	and	CCONJ
ajfa-3495	55	16	to	to	PART
ajfa-3495	55	17	issue	issue	VERB
ajfa-3495	55	18	new	new	ADJ
ajfa-3495	55	19	debt	debt	NOUN
ajfa-3495	55	20	more	more	ADV
ajfa-3495	55	21	often	often	ADV
ajfa-3495	55	22	compared	compare	VERB
ajfa-3495	55	23	to	to	ADP
ajfa-3495	55	24	otherwise	otherwise	ADV
ajfa-3495	55	25	identical	identical	VERB
ajfa-3495	55	26	less	less	ADV
ajfa-3495	55	27	confident	confident	ADJ
ajfa-3495	55	28	managers	manager	NOUN
ajfa-3495	55	29	.	.	PUNCT
ajfa-3495	56	1	recently	recently	ADV
ajfa-3495	56	2	,	,	PUNCT
ajfa-3495	56	3	malmendier	malmendier	NOUN
ajfa-3495	56	4	,	,	PUNCT
ajfa-3495	56	5	tate	tate	PROPN
ajfa-3495	56	6	and	and	CCONJ
ajfa-3495	56	7	yan	yan	PROPN
ajfa-3495	56	8	(	(	PUNCT
ajfa-3495	56	9	2005	2005	NUM
ajfa-3495	56	10	)	)	PUNCT
ajfa-3495	56	11	test	test	NOUN
ajfa-3495	56	12	these	these	DET
ajfa-3495	56	13	predictions	prediction	NOUN
ajfa-3495	56	14	.	.	PUNCT
ajfa-3495	57	1	they	they	PRON
ajfa-3495	57	2	find	find	VERB
ajfa-3495	57	3	that	that	SCONJ
ajfa-3495	57	4	managerial	managerial	ADJ
ajfa-3495	57	5	confidence	confidence	NOUN
ajfa-3495	57	6	leads	lead	VERB
ajfa-3495	57	7	to	to	ADP
ajfa-3495	57	8	a	a	DET
ajfa-3495	57	9	preference	preference	NOUN
ajfa-3495	57	10	for	for	ADP
ajfa-3495	57	11	internal	internal	ADJ
ajfa-3495	57	12	financing	financing	NOUN
ajfa-3495	57	13	over	over	ADP
ajfa-3495	57	14	external	external	ADJ
ajfa-3495	57	15	finance	finance	NOUN
ajfa-3495	57	16	and	and	CCONJ
ajfa-3495	57	17	conditional	conditional	ADJ
ajfa-3495	57	18	on	on	ADP
ajfa-3495	57	19	accessing	access	VERB
ajfa-3495	57	20	the	the	DET
ajfa-3495	57	21	capital	capital	NOUN
ajfa-3495	57	22	market	market	NOUN
ajfa-3495	57	23	,	,	PUNCT
ajfa-3495	57	24	debt	debt	NOUN
ajfa-3495	57	25	over	over	ADP
ajfa-3495	57	26	equity	equity	NOUN
ajfa-3495	57	27	.	.	PUNCT
ajfa-3495	58	1	the	the	DET
ajfa-3495	58	2	main	main	ADJ
ajfa-3495	58	3	argument	argument	NOUN
ajfa-3495	58	4	for	for	ADP
ajfa-3495	58	5	the	the	DET
ajfa-3495	58	6	manager	manager	NOUN
ajfa-3495	58	7	bias	bias	NOUN
ajfa-3495	58	8	toward	toward	ADP
ajfa-3495	58	9	debt	debt	NOUN
ajfa-3495	58	10	financing	financing	NOUN
ajfa-3495	58	11	is	be	AUX
ajfa-3495	58	12	that	that	SCONJ
ajfa-3495	58	13	confident	confident	ADJ
ajfa-3495	58	14	managers	manager	NOUN
ajfa-3495	58	15	underestimate	underestimate	VERB
ajfa-3495	58	16	the	the	DET
ajfa-3495	58	17	probability	probability	NOUN
ajfa-3495	58	18	of	of	ADP
ajfa-3495	58	19	financial	financial	ADJ
ajfa-3495	58	20	distress	distress	NOUN
ajfa-3495	58	21	,	,	PUNCT
ajfa-3495	58	22	and	and	CCONJ
ajfa-3495	58	23	therefore	therefore	ADV
ajfa-3495	58	24	take	take	VERB
ajfa-3495	58	25	on	on	ADP
ajfa-3495	58	26	higher	high	ADJ
ajfa-3495	58	27	levels	level	NOUN
ajfa-3495	58	28	of	of	ADP
ajfa-3495	58	29	debt	debt	NOUN
ajfa-3495	58	30	than	than	ADP
ajfa-3495	58	31	optimal	optimal	ADJ
ajfa-3495	58	32	.	.	PUNCT
ajfa-3495	59	1	this	this	PRON
ajfa-3495	59	2	may	may	AUX
ajfa-3495	59	3	lead	lead	VERB
ajfa-3495	59	4	to	to	ADP
ajfa-3495	59	5	higher	high	ADJ
ajfa-3495	59	6	probability	probability	NOUN
ajfa-3495	59	7	of	of	ADP
ajfa-3495	59	8	bankruptcy	bankruptcy	NOUN
ajfa-3495	59	9	and	and	CCONJ
ajfa-3495	59	10	higher	high	ADJ
ajfa-3495	59	11	costs	cost	NOUN
ajfa-3495	59	12	of	of	ADP
ajfa-3495	59	13	capital	capital	NOUN
ajfa-3495	59	14	.	.	PUNCT
ajfa-3495	60	1	hence	hence	ADV
ajfa-3495	60	2	,	,	PUNCT
ajfa-3495	60	3	in	in	ADP
ajfa-3495	60	4	support	support	NOUN
ajfa-3495	60	5	of	of	ADP
ajfa-3495	60	6	this	this	DET
ajfa-3495	60	7	confidence	confidence	NOUN
ajfa-3495	60	8	bias	bias	NOUN
ajfa-3495	60	9	we	we	PRON
ajfa-3495	60	10	expect	expect	VERB
ajfa-3495	60	11	a	a	DET
ajfa-3495	60	12	positive	positive	ADJ
ajfa-3495	60	13	relation	relation	NOUN
ajfa-3495	60	14	between	between	ADP
ajfa-3495	60	15	manager	manager	NOUN
ajfa-3495	60	16	confidence	confidence	NOUN
ajfa-3495	60	17	and	and	CCONJ
ajfa-3495	60	18	leverage	leverage	NOUN
ajfa-3495	60	19	.	.	PUNCT
ajfa-3495	61	1	3	3	X
ajfa-3495	61	2	.	.	X
ajfa-3495	61	3	capital	capital	NOUN
ajfa-3495	61	4	structure	structure	NOUN
ajfa-3495	61	5	determinants	determinant	VERB
ajfa-3495	61	6	3.1	3.1	NUM
ajfa-3495	61	7	the	the	DET
ajfa-3495	61	8	independent	independent	ADJ
ajfa-3495	61	9	variables	variable	NOUN
ajfa-3495	61	10	the	the	DET
ajfa-3495	61	11	independent	independent	ADJ
ajfa-3495	61	12	variables	variable	NOUN
ajfa-3495	61	13	used	use	VERB
ajfa-3495	61	14	in	in	ADP
ajfa-3495	61	15	equation	equation	NOUN
ajfa-3495	61	16	(	(	PUNCT
ajfa-3495	61	17	1	1	X
ajfa-3495	61	18	)	)	PUNCT
ajfa-3495	61	19	are	be	AUX
ajfa-3495	61	20	liquidity	liquidity	NOUN
ajfa-3495	61	21	,	,	PUNCT
ajfa-3495	61	22	market	market	NOUN
ajfa-3495	61	23	to	to	ADP
ajfa-3495	61	24	book	book	NOUN
ajfa-3495	61	25	ratio	ratio	NOUN
ajfa-3495	61	26	(	(	PUNCT
ajfa-3495	61	27	mb	mb	NOUN
ajfa-3495	61	28	)	)	PUNCT
ajfa-3495	61	29	,	,	PUNCT
ajfa-3495	61	30	dividend	dividend	NOUN
ajfa-3495	61	31	payment	payment	NOUN
ajfa-3495	61	32	(	(	PUNCT
ajfa-3495	61	33	divdum	divdum	NOUN
ajfa-3495	61	34	)	)	PUNCT
ajfa-3495	61	35	,	,	PUNCT
ajfa-3495	61	36	collateral	collateral	NOUN
ajfa-3495	61	37	(	(	PUNCT
ajfa-3495	61	38	colltrl	colltrl	PROPN
ajfa-3495	61	39	)	)	PUNCT
ajfa-3495	61	40	,	,	PUNCT
ajfa-3495	61	41	profit	profit	NOUN
ajfa-3495	61	42	(	(	PUNCT
ajfa-3495	61	43	prf	prf	PROPN
ajfa-3495	61	44	)	)	PUNCT
ajfa-3495	61	45	and	and	CCONJ
ajfa-3495	61	46	the	the	DET
ajfa-3495	61	47	firm	firm	ADJ
ajfa-3495	61	48	size	size	NOUN
ajfa-3495	61	49	(	(	PUNCT
ajfa-3495	61	50	size	size	NOUN
ajfa-3495	61	51	)	)	PUNCT
ajfa-3495	61	52	.	.	PUNCT
ajfa-3495	62	1	we	we	PRON
ajfa-3495	62	2	explain	explain	VERB
ajfa-3495	62	3	in	in	ADP
ajfa-3495	62	4	this	this	DET
ajfa-3495	62	5	sub	sub	NOUN
ajfa-3495	62	6	-	-	NOUN
ajfa-3495	62	7	section	section	NOUN
ajfa-3495	62	8	why	why	SCONJ
ajfa-3495	62	9	they	they	PRON
ajfa-3495	62	10	are	be	AUX
ajfa-3495	62	11	considered	consider	VERB
ajfa-3495	62	12	determinants	determinant	NOUN
ajfa-3495	62	13	of	of	ADP
ajfa-3495	62	14	capital	capital	NOUN
ajfa-3495	62	15	structure	structure	NOUN
ajfa-3495	62	16	and	and	CCONJ
ajfa-3495	62	17	how	how	SCONJ
ajfa-3495	62	18	they	they	PRON
ajfa-3495	62	19	are	be	AUX
ajfa-3495	62	20	measured	measure	VERB
ajfa-3495	62	21	.	.	PUNCT
ajfa-3495	63	1	3.2	3.2	NUM
ajfa-3495	63	2	liquidity	liquidity	NOUN
ajfa-3495	63	3	as	as	SCONJ
ajfa-3495	63	4	predicted	predict	VERB
ajfa-3495	63	5	by	by	ADP
ajfa-3495	63	6	the	the	DET
ajfa-3495	63	7	pecking	pecking	NOUN
ajfa-3495	63	8	order	order	NOUN
ajfa-3495	63	9	theory	theory	NOUN
ajfa-3495	63	10	,	,	PUNCT
ajfa-3495	63	11	firms	firm	NOUN
ajfa-3495	63	12	with	with	ADP
ajfa-3495	63	13	high	high	ADJ
ajfa-3495	63	14	liquidity	liquidity	NOUN
ajfa-3495	63	15	will	will	AUX
ajfa-3495	63	16	borrow	borrow	VERB
ajfa-3495	63	17	less	less	ADJ
ajfa-3495	63	18	.	.	PUNCT
ajfa-3495	64	1	the	the	DET
ajfa-3495	64	2	fact	fact	NOUN
ajfa-3495	64	3	that	that	SCONJ
ajfa-3495	64	4	a	a	DET
ajfa-3495	64	5	firm	firm	NOUN
ajfa-3495	64	6	with	with	ADP
ajfa-3495	64	7	more	more	ADJ
ajfa-3495	64	8	current	current	ADJ
ajfa-3495	64	9	assets	asset	NOUN
ajfa-3495	64	10	is	be	AUX
ajfa-3495	64	11	expected	expect	VERB
ajfa-3495	64	12	to	to	PART
ajfa-3495	64	13	generate	generate	VERB
ajfa-3495	64	14	more	more	ADJ
ajfa-3495	64	15	internal	internal	ADJ
ajfa-3495	64	16	inflows	inflow	NOUN
ajfa-3495	64	17	,	,	PUNCT
ajfa-3495	64	18	which	which	PRON
ajfa-3495	64	19	can	can	AUX
ajfa-3495	64	20	be	be	AUX
ajfa-3495	64	21	used	use	VERB
ajfa-3495	64	22	to	to	PART
ajfa-3495	64	23	finance	finance	VERB
ajfa-3495	64	24	its	its	PRON
ajfa-3495	64	25	operating	operating	NOUN
ajfa-3495	64	26	and	and	CCONJ
ajfa-3495	64	27	investments	investment	NOUN
ajfa-3495	64	28	activities	activity	NOUN
ajfa-3495	64	29	.	.	PUNCT
ajfa-3495	65	1	thus	thus	ADV
ajfa-3495	65	2	a	a	DET
ajfa-3495	65	3	negative	negative	ADJ
ajfa-3495	65	4	relationship	relationship	NOUN
ajfa-3495	65	5	between	between	ADP
ajfa-3495	65	6	liquidity	liquidity	NOUN
ajfa-3495	65	7	and	and	CCONJ
ajfa-3495	65	8	leverage	leverage	NOUN
ajfa-3495	65	9	is	be	AUX
ajfa-3495	65	10	expected	expect	VERB
ajfa-3495	65	11	.	.	PUNCT
ajfa-3495	66	1	friend	friend	NOUN
ajfa-3495	66	2	and	and	CCONJ
ajfa-3495	66	3	lang	lang	PROPN
ajfa-3495	66	4	(	(	PUNCT
ajfa-3495	66	5	1988	1988	NUM
ajfa-3495	66	6	)	)	PUNCT
ajfa-3495	66	7	deesomsak	deesomsak	NOUN
ajfa-3495	66	8	,	,	PUNCT
ajfa-3495	66	9	et	et	PROPN
ajfa-3495	66	10	al	al	PROPN
ajfa-3495	66	11	.	.	PROPN
ajfa-3495	66	12	(	(	PUNCT
ajfa-3495	66	13	2004	2004	NUM
ajfa-3495	66	14	)	)	PUNCT
ajfa-3495	66	15	,	,	PUNCT
ajfa-3495	66	16	sbeiti	sbeiti	NOUN
ajfa-3495	66	17	(	(	PUNCT
ajfa-3495	66	18	2010	2010	NUM
ajfa-3495	66	19	)	)	PUNCT
ajfa-3495	66	20	,	,	PUNCT
ajfa-3495	66	21	and	and	CCONJ
ajfa-3495	66	22	icke	icke	PROPN
ajfa-3495	66	23	and	and	CCONJ
ajfa-3495	66	24	ivgen	ivgen	NOUN
ajfa-3495	66	25	(	(	PUNCT
ajfa-3495	66	26	2011	2011	NUM
ajfa-3495	66	27	)	)	PUNCT
ajfa-3495	66	28	,	,	PUNCT
ajfa-3495	66	29	found	find	VERB
ajfa-3495	66	30	liquidity	liquidity	NOUN
ajfa-3495	66	31	is	be	AUX
ajfa-3495	66	32	negatively	negatively	ADV
ajfa-3495	66	33	and	and	CCONJ
ajfa-3495	66	34	significantly	significantly	ADV
ajfa-3495	66	35	related	relate	VERB
ajfa-3495	66	36	to	to	ADP
ajfa-3495	66	37	leverage	leverage	NOUN
ajfa-3495	66	38	.	.	PUNCT
ajfa-3495	67	1	on	on	ADP
ajfa-3495	67	2	the	the	DET
ajfa-3495	67	3	other	other	ADJ
ajfa-3495	67	4	hand	hand	NOUN
ajfa-3495	67	5	,	,	PUNCT
ajfa-3495	67	6	trade	trade	NOUN
ajfa-3495	67	7	-	-	PUNCT
ajfa-3495	67	8	off	off	ADP
ajfa-3495	67	9	theory	theory	NOUN
ajfa-3495	67	10	suggests	suggest	VERB
ajfa-3495	67	11	a	a	DET
ajfa-3495	67	12	positive	positive	ADJ
ajfa-3495	67	13	relationship	relationship	NOUN
ajfa-3495	67	14	between	between	ADP
ajfa-3495	67	15	leverage	leverage	NOUN
ajfa-3495	67	16	and	and	CCONJ
ajfa-3495	67	17	liquidity	liquidity	NOUN
ajfa-3495	67	18	because	because	SCONJ
ajfa-3495	67	19	higher	high	ADJ
ajfa-3495	67	20	liquidity	liquidity	NOUN
ajfa-3495	67	21	ratio	ratio	NOUN
ajfa-3495	67	22	reflects	reflect	VERB
ajfa-3495	67	23	the	the	DET
ajfa-3495	67	24	greater	great	ADJ
ajfa-3495	67	25	ability	ability	NOUN
ajfa-3495	67	26	of	of	ADP
ajfa-3495	67	27	a	a	DET
ajfa-3495	67	28	firm	firm	NOUN
ajfa-3495	67	29	to	to	PART
ajfa-3495	67	30	meet	meet	VERB
ajfa-3495	67	31	short	short	ADJ
ajfa-3495	67	32	-	-	PUNCT
ajfa-3495	67	33	term	term	NOUN
ajfa-3495	67	34	obligation	obligation	NOUN
ajfa-3495	67	35	on	on	ADP
ajfa-3495	67	36	time	time	NOUN
ajfa-3495	67	37	.	.	PUNCT
ajfa-3495	68	1	ozkan	ozkan	PROPN
ajfa-3495	68	2	(	(	PUNCT
ajfa-3495	68	3	2001	2001	NUM
ajfa-3495	68	4	)	)	PUNCT
ajfa-3495	68	5	suggests	suggest	VERB
ajfa-3495	68	6	that	that	SCONJ
ajfa-3495	68	7	liquidity	liquidity	NOUN
ajfa-3495	68	8	has	have	VERB
ajfa-3495	68	9	ambiguous	ambiguous	ADJ
ajfa-3495	68	10	effect	effect	NOUN
ajfa-3495	68	11	on	on	ADP
ajfa-3495	68	12	the	the	DET
ajfa-3495	68	13	capital	capital	NOUN
ajfa-3495	68	14	structure	structure	NOUN
ajfa-3495	68	15	decisions	decision	NOUN
ajfa-3495	68	16	.	.	PUNCT
ajfa-3495	69	1	in	in	ADP
ajfa-3495	69	2	the	the	DET
ajfa-3495	69	3	line	line	NOUN
ajfa-3495	69	4	with	with	ADP
ajfa-3495	69	5	study	study	NOUN
ajfa-3495	69	6	of	of	ADP
ajfa-3495	69	7	ozkan	ozkan	NOUN
ajfa-3495	69	8	(	(	PUNCT
ajfa-3495	69	9	2001	2001	NUM
ajfa-3495	69	10	)	)	PUNCT
ajfa-3495	69	11	the	the	DET
ajfa-3495	69	12	proportion	proportion	NOUN
ajfa-3495	69	13	of	of	ADP
ajfa-3495	69	14	current	current	ADJ
ajfa-3495	69	15	assets	asset	NOUN
ajfa-3495	69	16	to	to	ADP
ajfa-3495	69	17	current	current	ADJ
ajfa-3495	69	18	liabilities	liability	NOUN
ajfa-3495	69	19	is	be	AUX
ajfa-3495	69	20	chosen	choose	VERB
ajfa-3495	69	21	as	as	ADP
ajfa-3495	69	22	a	a	DET
ajfa-3495	69	23	proxy	proxy	NOUN
ajfa-3495	69	24	for	for	ADP
ajfa-3495	69	25	liquidity	liquidity	NOUN
ajfa-3495	69	26	.	.	PUNCT
ajfa-3495	70	1	3.3	3.3	NUM
ajfa-3495	70	2	market	market	NOUN
ajfa-3495	70	3	-	-	PUNCT
ajfa-3495	70	4	to	to	ADP
ajfa-3495	70	5	-	-	PUNCT
ajfa-3495	70	6	book	book	NOUN
ajfa-3495	70	7	(	(	PUNCT
ajfa-3495	70	8	mb	mb	NOUN
ajfa-3495	70	9	)	)	PUNCT
ajfa-3495	70	10	the	the	DET
ajfa-3495	70	11	market	market	NOUN
ajfa-3495	70	12	-	-	PUNCT
ajfa-3495	70	13	to	to	ADP
ajfa-3495	70	14	-	-	PUNCT
ajfa-3495	70	15	book	book	NOUN
ajfa-3495	70	16	ratio	ratio	NOUN
ajfa-3495	70	17	has	have	AUX
ajfa-3495	70	18	been	be	AUX
ajfa-3495	70	19	used	use	VERB
ajfa-3495	70	20	by	by	ADP
ajfa-3495	70	21	previous	previous	ADJ
ajfa-3495	70	22	research	research	NOUN
ajfa-3495	70	23	to	to	PART
ajfa-3495	70	24	measure	measure	VERB
ajfa-3495	70	25	growth	growth	NOUN
ajfa-3495	70	26	opportunities	opportunity	NOUN
ajfa-3495	70	27	(	(	PUNCT
ajfa-3495	70	28	adam	adam	PROPN
ajfa-3495	70	29	and	and	CCONJ
ajfa-3495	70	30	goyal	goyal	PROPN
ajfa-3495	70	31	(	(	PUNCT
ajfa-3495	70	32	2002	2002	NUM
ajfa-3495	70	33	)	)	PUNCT
ajfa-3495	70	34	present	present	VERB
ajfa-3495	70	35	a	a	DET
ajfa-3495	70	36	summary	summary	NOUN
ajfa-3495	70	37	of	of	ADP
ajfa-3495	70	38	this	this	DET
ajfa-3495	70	39	literature	literature	NOUN
ajfa-3495	70	40	)	)	PUNCT
ajfa-3495	70	41	.	.	PUNCT
ajfa-3495	71	1	when	when	SCONJ
ajfa-3495	71	2	market	market	NOUN
ajfa-3495	71	3	equity	equity	NOUN
ajfa-3495	71	4	prices	price	NOUN
ajfa-3495	71	5	are	be	AUX
ajfa-3495	71	6	high	high	ADJ
ajfa-3495	71	7	relative	relative	ADJ
ajfa-3495	71	8	to	to	ADP
ajfa-3495	71	9	book	book	NOUN
ajfa-3495	71	10	prices	price	NOUN
ajfa-3495	71	11	,	,	PUNCT
ajfa-3495	71	12	the	the	DET
ajfa-3495	71	13	market	market	NOUN
ajfa-3495	71	14	is	be	AUX
ajfa-3495	71	15	signaling	signal	VERB
ajfa-3495	71	16	higher	high	ADJ
ajfa-3495	71	17	expected	expect	VERB
ajfa-3495	71	18	growth	growth	NOUN
ajfa-3495	71	19	.	.	PUNCT
ajfa-3495	72	1	previous	previous	ADJ
ajfa-3495	72	2	empirical	empirical	ADJ
ajfa-3495	72	3	studies	study	NOUN
ajfa-3495	72	4	in	in	ADP
ajfa-3495	72	5	the	the	DET
ajfa-3495	72	6	capital	capital	NOUN
ajfa-3495	72	7	structure	structure	NOUN
ajfa-3495	72	8	literature	literature	PROPN
ajfa-3495	72	9	document	document	NOUN
ajfa-3495	72	10	a	a	DET
ajfa-3495	72	11	negative	negative	ADJ
ajfa-3495	72	12	relation	relation	NOUN
ajfa-3495	72	13	between	between	ADP
ajfa-3495	72	14	the	the	DET
ajfa-3495	72	15	market	market	NOUN
ajfa-3495	72	16	-	-	PUNCT
ajfa-3495	72	17	to	to	ADP
ajfa-3495	72	18	-	-	PUNCT
ajfa-3495	72	19	book	book	NOUN
ajfa-3495	72	20	ratio	ratio	NOUN
ajfa-3495	72	21	and	and	CCONJ
ajfa-3495	72	22	leverage	leverage	NOUN
ajfa-3495	72	23	ratio	ratio	NOUN
ajfa-3495	72	24	.	.	PUNCT
ajfa-3495	73	1	this	this	DET
ajfa-3495	73	2	negative	negative	ADJ
ajfa-3495	73	3	sign	sign	NOUN
ajfa-3495	73	4	is	be	AUX
ajfa-3495	73	5	predicted	predict	VERB
ajfa-3495	73	6	by	by	ADP
ajfa-3495	73	7	most	most	ADJ
ajfa-3495	73	8	capital	capital	NOUN
ajfa-3495	73	9	structure	structure	NOUN
ajfa-3495	73	10	theories	theory	NOUN
ajfa-3495	73	11	.	.	PUNCT
ajfa-3495	74	1	indeed	indeed	ADV
ajfa-3495	74	2	,	,	PUNCT
ajfa-3495	74	3	firms	firm	NOUN
ajfa-3495	74	4	with	with	ADP
ajfa-3495	74	5	high	high	ADJ
ajfa-3495	74	6	market	market	NOUN
ajfa-3495	74	7	-	-	PUNCT
ajfa-3495	74	8	to	to	ADP
ajfa-3495	74	9	-	-	PUNCT
ajfa-3495	74	10	book	book	NOUN
ajfa-3495	74	11	ratio	ratio	NOUN
ajfa-3495	74	12	have	have	VERB
ajfa-3495	74	13	higher	high	ADJ
ajfa-3495	74	14	costs	cost	NOUN
ajfa-3495	74	15	of	of	ADP
ajfa-3495	74	16	financial	financial	ADJ
ajfa-3495	74	17	distress	distress	NOUN
ajfa-3495	74	18	(	(	PUNCT
ajfa-3495	74	19	rajan	rajan	NOUN
ajfa-3495	74	20	and	and	CCONJ
ajfa-3495	74	21	zingales	zingale	NOUN
ajfa-3495	74	22	,	,	PUNCT
ajfa-3495	74	23	1995	1995	NUM
ajfa-3495	74	24	)	)	PUNCT
ajfa-3495	74	25	and	and	CCONJ
ajfa-3495	74	26	consequently	consequently	ADV
ajfa-3495	74	27	are	be	AUX
ajfa-3495	74	28	expected	expect	VERB
ajfa-3495	74	29	to	to	PART
ajfa-3495	74	30	have	have	VERB
ajfa-3495	74	31	lower	low	ADJ
ajfa-3495	74	32	debt	debt	NOUN
ajfa-3495	74	33	.	.	PUNCT
ajfa-3495	75	1	this	this	DET
ajfa-3495	75	2	interpretation	interpretation	NOUN
ajfa-3495	75	3	is	be	AUX
ajfa-3495	75	4	consistent	consistent	ADJ
ajfa-3495	75	5	with	with	ADP
ajfa-3495	75	6	the	the	DET
ajfa-3495	75	7	trade	trade	NOUN
ajfa-3495	75	8	-	-	PUNCT
ajfa-3495	75	9	off	off	ADP
ajfa-3495	75	10	theory	theory	NOUN
ajfa-3495	75	11	.	.	PUNCT
ajfa-3495	76	1	under	under	ADP
ajfa-3495	76	2	the	the	DET
ajfa-3495	76	3	pecking	pecking	NOUN
ajfa-3495	76	4	-	-	PUNCT
ajfa-3495	76	5	order	order	NOUN
ajfa-3495	76	6	theory	theory	NOUN
ajfa-3495	76	7	,	,	PUNCT
ajfa-3495	76	8	profitable	profitable	ADJ
ajfa-3495	76	9	firms	firm	NOUN
ajfa-3495	76	10	have	have	VERB
ajfa-3495	76	11	much	much	ADV
ajfa-3495	76	12	retained	retain	VERB
ajfa-3495	76	13	earnings	earning	NOUN
ajfa-3495	76	14	and	and	CCONJ
ajfa-3495	76	15	therefore	therefore	ADV
ajfa-3495	76	16	a	a	DET
ajfa-3495	76	17	smaller	small	ADJ
ajfa-3495	76	18	need	need	NOUN
ajfa-3495	76	19	for	for	ADP
ajfa-3495	76	20	external	external	ADJ
ajfa-3495	76	21	finance	finance	NOUN
ajfa-3495	76	22	and	and	CCONJ
ajfa-3495	76	23	thus	thus	ADV
ajfa-3495	76	24	debt	debt	NOUN
ajfa-3495	76	25	.	.	PUNCT
ajfa-3495	77	1	according	accord	VERB
ajfa-3495	77	2	to	to	ADP
ajfa-3495	77	3	the	the	DET
ajfa-3495	77	4	market	market	NOUN
ajfa-3495	77	5	timing	timing	NOUN
ajfa-3495	77	6	hypothesis	hypothesis	NOUN
ajfa-3495	77	7	,	,	PUNCT
ajfa-3495	77	8	if	if	SCONJ
ajfa-3495	77	9	the	the	DET
ajfa-3495	77	10	market	market	NOUN
ajfa-3495	77	11	-	-	PUNCT
ajfa-3495	77	12	to	to	ADP
ajfa-3495	77	13	-	-	PUNCT
ajfa-3495	77	14	book	book	NOUN
ajfa-3495	77	15	ratio	ratio	NOUN
ajfa-3495	77	16	asian	asian	PROPN
ajfa-3495	77	17	journal	journal	PROPN
ajfa-3495	77	18	of	of	ADP
ajfa-3495	77	19	finance	finance	PROPN
ajfa-3495	77	20	&	&	CCONJ
ajfa-3495	77	21	accounting	accounting	PROPN
ajfa-3495	77	22	issn	issn	PROPN
ajfa-3495	77	23	1946	1946	NUM
ajfa-3495	77	24	-	-	PUNCT
ajfa-3495	77	25	052x	052x	NOUN
ajfa-3495	77	26	2013	2013	NUM
ajfa-3495	77	27	,	,	PUNCT
ajfa-3495	77	28	vol	vol	NOUN
ajfa-3495	77	29	.	.	PROPN
ajfa-3495	77	30	5	5	NUM
ajfa-3495	77	31	,	,	PUNCT
ajfa-3495	77	32	no	no	INTJ
ajfa-3495	77	33	.	.	NOUN
ajfa-3495	77	34	1	1	NUM
ajfa-3495	77	35	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-3495	77	36	324	324	NUM
ajfa-3495	77	37	is	be	AUX
ajfa-3495	77	38	high	high	ADJ
ajfa-3495	77	39	,	,	PUNCT
ajfa-3495	77	40	then	then	ADV
ajfa-3495	77	41	issuing	issue	VERB
ajfa-3495	77	42	equity	equity	NOUN
ajfa-3495	77	43	seems	seem	VERB
ajfa-3495	77	44	more	more	ADV
ajfa-3495	77	45	attractive	attractive	ADJ
ajfa-3495	77	46	than	than	ADP
ajfa-3495	77	47	issuing	issue	VERB
ajfa-3495	77	48	debt	debt	NOUN
ajfa-3495	77	49	.	.	PUNCT
ajfa-3495	78	1	given	give	VERB
ajfa-3495	78	2	these	these	DET
ajfa-3495	78	3	arguments	argument	NOUN
ajfa-3495	78	4	,	,	PUNCT
ajfa-3495	78	5	we	we	PRON
ajfa-3495	78	6	expect	expect	VERB
ajfa-3495	78	7	a	a	DET
ajfa-3495	78	8	negative	negative	ADJ
ajfa-3495	78	9	relation	relation	NOUN
ajfa-3495	78	10	between	between	ADP
ajfa-3495	78	11	leverage	leverage	NOUN
ajfa-3495	78	12	and	and	CCONJ
ajfa-3495	78	13	the	the	DET
ajfa-3495	78	14	market	market	NOUN
ajfa-3495	78	15	-	-	PUNCT
ajfa-3495	78	16	to	to	ADP
ajfa-3495	78	17	-	-	PUNCT
ajfa-3495	78	18	book	book	NOUN
ajfa-3495	78	19	ratio	ratio	NOUN
ajfa-3495	78	20	.	.	PUNCT
ajfa-3495	79	1	the	the	DET
ajfa-3495	79	2	market	market	NOUN
ajfa-3495	79	3	-	-	PUNCT
ajfa-3495	79	4	to	to	ADP
ajfa-3495	79	5	-	-	PUNCT
ajfa-3495	79	6	book	book	NOUN
ajfa-3495	79	7	ratio	ratio	NOUN
ajfa-3495	79	8	(	(	PUNCT
ajfa-3495	79	9	mb	mb	NOUN
ajfa-3495	79	10	)	)	PUNCT
ajfa-3495	79	11	is	be	AUX
ajfa-3495	79	12	defined	define	VERB
ajfa-3495	79	13	as	as	ADP
ajfa-3495	79	14	the	the	DET
ajfa-3495	79	15	market	market	NOUN
ajfa-3495	79	16	value	value	NOUN
ajfa-3495	79	17	of	of	ADP
ajfa-3495	79	18	assets	asset	NOUN
ajfa-3495	79	19	divided	divide	VERB
ajfa-3495	79	20	by	by	ADP
ajfa-3495	79	21	book	book	NOUN
ajfa-3495	79	22	value	value	NOUN
ajfa-3495	79	23	of	of	ADP
ajfa-3495	79	24	assets	asset	NOUN
ajfa-3495	79	25	.	.	PUNCT
ajfa-3495	80	1	the	the	DET
ajfa-3495	80	2	market	market	NOUN
ajfa-3495	80	3	value	value	NOUN
ajfa-3495	80	4	of	of	ADP
ajfa-3495	80	5	assets	asset	NOUN
ajfa-3495	80	6	equals	equal	VERB
ajfa-3495	80	7	the	the	DET
ajfa-3495	80	8	book	book	NOUN
ajfa-3495	80	9	value	value	NOUN
ajfa-3495	80	10	of	of	ADP
ajfa-3495	80	11	assets	asset	NOUN
ajfa-3495	80	12	minus	minus	ADP
ajfa-3495	80	13	the	the	DET
ajfa-3495	80	14	book	book	NOUN
ajfa-3495	80	15	value	value	NOUN
ajfa-3495	80	16	of	of	ADP
ajfa-3495	80	17	common	common	ADJ
ajfa-3495	80	18	stock	stock	NOUN
ajfa-3495	80	19	plus	plus	CCONJ
ajfa-3495	80	20	market	market	NOUN
ajfa-3495	80	21	value	value	NOUN
ajfa-3495	80	22	of	of	ADP
ajfa-3495	80	23	equity	equity	NOUN
ajfa-3495	80	24	.	.	PUNCT
ajfa-3495	81	1	3.4	3.4	NUM
ajfa-3495	81	2	dividend	dividend	NOUN
ajfa-3495	81	3	dummy	dummy	NOUN
ajfa-3495	81	4	(	(	PUNCT
ajfa-3495	81	5	divdum	divdum	NOUN
ajfa-3495	81	6	)	)	PUNCT
ajfa-3495	81	7	predictions	prediction	NOUN
ajfa-3495	81	8	about	about	ADP
ajfa-3495	81	9	how	how	SCONJ
ajfa-3495	81	10	paying	pay	VERB
ajfa-3495	81	11	dividend	dividend	NOUN
ajfa-3495	81	12	affects	affect	VERB
ajfa-3495	81	13	leverage	leverage	NOUN
ajfa-3495	81	14	are	be	AUX
ajfa-3495	81	15	unclear	unclear	ADJ
ajfa-3495	81	16	(	(	PUNCT
ajfa-3495	81	17	for	for	ADP
ajfa-3495	81	18	more	more	ADJ
ajfa-3495	81	19	details	detail	NOUN
ajfa-3495	81	20	see	see	VERB
ajfa-3495	81	21	fama	fama	NOUN
ajfa-3495	81	22	and	and	CCONJ
ajfa-3495	81	23	bangladeshi	bangladeshi	NOUN
ajfa-3495	81	24	,	,	PUNCT
ajfa-3495	81	25	2002	2002	NUM
ajfa-3495	81	26	)	)	PUNCT
ajfa-3495	81	27	.	.	PUNCT
ajfa-3495	82	1	the	the	DET
ajfa-3495	82	2	pecking	pecking	NOUN
ajfa-3495	82	3	order	order	NOUN
ajfa-3495	82	4	model	model	NOUN
ajfa-3495	82	5	permits	permit	VERB
ajfa-3495	82	6	interpretation	interpretation	NOUN
ajfa-3495	82	7	in	in	ADP
ajfa-3495	82	8	two	two	NUM
ajfa-3495	82	9	contradictory	contradictory	ADJ
ajfa-3495	82	10	ways	way	NOUN
ajfa-3495	82	11	.	.	PUNCT
ajfa-3495	83	1	in	in	ADP
ajfa-3495	83	2	one	one	NUM
ajfa-3495	83	3	way	way	NOUN
ajfa-3495	83	4	,	,	PUNCT
ajfa-3495	83	5	dividend	dividend	NOUN
ajfa-3495	83	6	paying	pay	VERB
ajfa-3495	83	7	firms	firm	NOUN
ajfa-3495	83	8	may	may	AUX
ajfa-3495	83	9	have	have	VERB
ajfa-3495	83	10	high	high	ADJ
ajfa-3495	83	11	earnings	earning	NOUN
ajfa-3495	83	12	relative	relative	ADJ
ajfa-3495	83	13	to	to	ADP
ajfa-3495	83	14	investment	investment	NOUN
ajfa-3495	83	15	opportunities	opportunity	NOUN
ajfa-3495	83	16	and	and	CCONJ
ajfa-3495	83	17	consequently	consequently	ADV
ajfa-3495	83	18	they	they	PRON
ajfa-3495	83	19	can	can	AUX
ajfa-3495	83	20	maintain	maintain	VERB
ajfa-3495	83	21	less	less	ADV
ajfa-3495	83	22	leveragea	leveragea	ADJ
ajfa-3495	83	23	negative	negative	ADJ
ajfa-3495	83	24	relation	relation	NOUN
ajfa-3495	83	25	between	between	ADP
ajfa-3495	83	26	dividend	dividend	NOUN
ajfa-3495	83	27	paying	pay	VERB
ajfa-3495	83	28	firms	firm	NOUN
ajfa-3495	83	29	and	and	CCONJ
ajfa-3495	83	30	leverage	leverage	NOUN
ajfa-3495	83	31	.	.	PUNCT
ajfa-3495	84	1	this	this	DET
ajfa-3495	84	2	prediction	prediction	NOUN
ajfa-3495	84	3	is	be	AUX
ajfa-3495	84	4	confirmed	confirm	VERB
ajfa-3495	84	5	by	by	ADP
ajfa-3495	84	6	fama	fama	PROPN
ajfa-3495	84	7	and	and	CCONJ
ajfa-3495	84	8	bangladeshi	bangladeshi	PROPN
ajfa-3495	84	9	(	(	PUNCT
ajfa-3495	84	10	2002	2002	NUM
ajfa-3495	84	11	)	)	PUNCT
ajfa-3495	84	12	.	.	PUNCT
ajfa-3495	85	1	in	in	ADP
ajfa-3495	85	2	the	the	DET
ajfa-3495	85	3	other	other	ADJ
ajfa-3495	85	4	way	way	NOUN
ajfa-3495	85	5	,	,	PUNCT
ajfa-3495	85	6	as	as	SCONJ
ajfa-3495	85	7	interpreted	interpret	VERB
ajfa-3495	85	8	by	by	ADP
ajfa-3495	85	9	shyam	shyam	PROPN
ajfa-3495	85	10	-	-	PUNCT
ajfa-3495	85	11	sunder	sunder	NOUN
ajfa-3495	85	12	and	and	CCONJ
ajfa-3495	85	13	myers	myers	PROPN
ajfa-3495	85	14	(	(	PUNCT
ajfa-3495	85	15	1999	1999	NUM
ajfa-3495	85	16	)	)	PUNCT
ajfa-3495	85	17	and	and	CCONJ
ajfa-3495	85	18	reported	report	VERB
ajfa-3495	85	19	by	by	ADP
ajfa-3495	85	20	frank	frank	PROPN
ajfa-3495	85	21	and	and	CCONJ
ajfa-3495	85	22	goyal	goyal	PROPN
ajfa-3495	85	23	(	(	PUNCT
ajfa-3495	85	24	2004	2004	NUM
ajfa-3495	85	25	)	)	PUNCT
ajfa-3495	85	26	,	,	PUNCT
ajfa-3495	85	27	the	the	DET
ajfa-3495	85	28	decision	decision	NOUN
ajfa-3495	85	29	to	to	PART
ajfa-3495	85	30	pay	pay	VERB
ajfa-3495	85	31	dividend	dividend	NOUN
ajfa-3495	85	32	increases	increase	NOUN
ajfa-3495	85	33	firms	firm	NOUN
ajfa-3495	85	34	financing	financing	NOUN
ajfa-3495	85	35	needs	need	NOUN
ajfa-3495	85	36	,	,	PUNCT
ajfa-3495	85	37	all	all	DET
ajfa-3495	85	38	else	else	ADV
ajfa-3495	85	39	equal	equal	ADJ
ajfa-3495	85	40	.	.	PUNCT
ajfa-3495	86	1	if	if	SCONJ
ajfa-3495	86	2	firms	firm	NOUN
ajfa-3495	86	3	are	be	AUX
ajfa-3495	86	4	constrained	constrain	VERB
ajfa-3495	86	5	to	to	PART
ajfa-3495	86	6	retain	retain	VERB
ajfa-3495	86	7	debt	debt	NOUN
ajfa-3495	86	8	financing	financing	NOUN
ajfa-3495	86	9	,	,	PUNCT
ajfa-3495	86	10	the	the	DET
ajfa-3495	86	11	implication	implication	NOUN
ajfa-3495	86	12	of	of	ADP
ajfa-3495	86	13	paying	pay	VERB
ajfa-3495	86	14	dividend	dividend	NOUN
ajfa-3495	86	15	is	be	AUX
ajfa-3495	86	16	to	to	PART
ajfa-3495	86	17	increase	increase	VERB
ajfa-3495	86	18	leveragea	leveragea	VERB
ajfa-3495	86	19	positive	positive	ADJ
ajfa-3495	86	20	relation	relation	NOUN
ajfa-3495	86	21	between	between	ADP
ajfa-3495	86	22	dividend	dividend	NOUN
ajfa-3495	86	23	paying	pay	VERB
ajfa-3495	86	24	firms	firm	NOUN
ajfa-3495	86	25	and	and	CCONJ
ajfa-3495	86	26	leverage	leverage	NOUN
ajfa-3495	86	27	.	.	PUNCT
ajfa-3495	87	1	under	under	ADP
ajfa-3495	87	2	the	the	DET
ajfa-3495	87	3	trade	trade	NOUN
ajfa-3495	87	4	-	-	PUNCT
ajfa-3495	87	5	off	off	ADP
ajfa-3495	87	6	theory	theory	NOUN
ajfa-3495	87	7	,	,	PUNCT
ajfa-3495	87	8	predictions	prediction	NOUN
ajfa-3495	87	9	of	of	ADP
ajfa-3495	87	10	the	the	DET
ajfa-3495	87	11	relation	relation	NOUN
ajfa-3495	87	12	between	between	ADP
ajfa-3495	87	13	leverage	leverage	NOUN
ajfa-3495	87	14	and	and	CCONJ
ajfa-3495	87	15	payout	payout	NOUN
ajfa-3495	87	16	decisions	decision	NOUN
ajfa-3495	87	17	can	can	AUX
ajfa-3495	87	18	be	be	AUX
ajfa-3495	87	19	driven	drive	VERB
ajfa-3495	87	20	from	from	ADP
ajfa-3495	87	21	considering	consider	VERB
ajfa-3495	87	22	either	either	CCONJ
ajfa-3495	87	23	bankruptcy	bankruptcy	NOUN
ajfa-3495	87	24	costs	cost	NOUN
ajfa-3495	87	25	or	or	CCONJ
ajfa-3495	87	26	agency	agency	NOUN
ajfa-3495	87	27	costs	cost	NOUN
ajfa-3495	87	28	of	of	ADP
ajfa-3495	87	29	free	free	ADJ
ajfa-3495	87	30	cash	cash	NOUN
ajfa-3495	87	31	flow	flow	NOUN
ajfa-3495	87	32	.	.	PUNCT
ajfa-3495	88	1	indeed	indeed	ADV
ajfa-3495	88	2	,	,	PUNCT
ajfa-3495	88	3	firms	firm	NOUN
ajfa-3495	88	4	paying	pay	VERB
ajfa-3495	88	5	dividend	dividend	NOUN
ajfa-3495	88	6	have	have	VERB
ajfa-3495	88	7	normally	normally	ADV
ajfa-3495	88	8	more	more	ADJ
ajfa-3495	88	9	cash	cash	NOUN
ajfa-3495	88	10	flows	flow	NOUN
ajfa-3495	88	11	in	in	ADP
ajfa-3495	88	12	comparison	comparison	NOUN
ajfa-3495	88	13	to	to	ADP
ajfa-3495	88	14	investment	investment	NOUN
ajfa-3495	88	15	opportunities	opportunity	NOUN
ajfa-3495	88	16	and	and	CCONJ
ajfa-3495	88	17	so	so	ADV
ajfa-3495	88	18	they	they	PRON
ajfa-3495	88	19	do	do	AUX
ajfa-3495	88	20	not	not	PART
ajfa-3495	88	21	have	have	VERB
ajfa-3495	88	22	to	to	PART
ajfa-3495	88	23	increase	increase	VERB
ajfa-3495	88	24	leverage	leverage	NOUN
ajfa-3495	88	25	and	and	CCONJ
ajfa-3495	88	26	deadweight	deadweight	NOUN
ajfa-3495	88	27	costs	cost	NOUN
ajfa-3495	88	28	of	of	ADP
ajfa-3495	88	29	debt	debt	NOUN
ajfa-3495	88	30	.	.	PUNCT
ajfa-3495	89	1	in	in	ADP
ajfa-3495	89	2	the	the	DET
ajfa-3495	89	3	agency	agency	NOUN
ajfa-3495	89	4	models	model	NOUN
ajfa-3495	89	5	of	of	ADP
ajfa-3495	89	6	jensen	jensen	PROPN
ajfa-3495	89	7	and	and	CCONJ
ajfa-3495	89	8	meckling	meckling	NOUN
ajfa-3495	89	9	(	(	PUNCT
ajfa-3495	89	10	1976	1976	NUM
ajfa-3495	89	11	)	)	PUNCT
ajfa-3495	89	12	and	and	CCONJ
ajfa-3495	89	13	easterbrook	easterbrook	NOUN
ajfa-3495	89	14	(	(	PUNCT
ajfa-3495	89	15	1984	1984	NUM
ajfa-3495	89	16	)	)	PUNCT
ajfa-3495	89	17	,	,	PUNCT
ajfa-3495	89	18	the	the	DET
ajfa-3495	89	19	managers	manager	NOUN
ajfa-3495	89	20	do	do	AUX
ajfa-3495	89	21	not	not	PART
ajfa-3495	89	22	necessarily	necessarily	ADV
ajfa-3495	89	23	act	act	VERB
ajfa-3495	89	24	in	in	ADP
ajfa-3495	89	25	the	the	DET
ajfa-3495	89	26	interest	interest	NOUN
ajfa-3495	89	27	of	of	ADP
ajfa-3495	89	28	shareholders	shareholder	NOUN
ajfa-3495	89	29	and	and	CCONJ
ajfa-3495	89	30	can	can	AUX
ajfa-3495	89	31	waste	waste	VERB
ajfa-3495	89	32	the	the	DET
ajfa-3495	89	33	free	free	ADJ
ajfa-3495	89	34	cash	cash	NOUN
ajfa-3495	89	35	flow	flow	NOUN
ajfa-3495	89	36	.	.	PUNCT
ajfa-3495	90	1	dividends	dividend	NOUN
ajfa-3495	90	2	and	and	CCONJ
ajfa-3495	90	3	debt	debt	NOUN
ajfa-3495	90	4	,	,	PUNCT
ajfa-3495	90	5	by	by	ADP
ajfa-3495	90	6	forcing	force	VERB
ajfa-3495	90	7	managers	manager	NOUN
ajfa-3495	90	8	to	to	PART
ajfa-3495	90	9	pay	pay	VERB
ajfa-3495	90	10	out	out	ADP
ajfa-3495	90	11	free	free	ADJ
ajfa-3495	90	12	cash	cash	NOUN
ajfa-3495	90	13	flow	flow	NOUN
ajfa-3495	90	14	,	,	PUNCT
ajfa-3495	90	15	can	can	AUX
ajfa-3495	90	16	control	control	VERB
ajfa-3495	90	17	the	the	DET
ajfa-3495	90	18	free	free	ADJ
ajfa-3495	90	19	cash	cash	NOUN
ajfa-3495	90	20	flow	flow	NOUN
ajfa-3495	90	21	problem	problem	NOUN
ajfa-3495	90	22	.	.	PUNCT
ajfa-3495	91	1	since	since	SCONJ
ajfa-3495	91	2	they	they	PRON
ajfa-3495	91	3	are	be	AUX
ajfa-3495	91	4	presented	present	VERB
ajfa-3495	91	5	as	as	ADP
ajfa-3495	91	6	substitutes	substitute	NOUN
ajfa-3495	91	7	for	for	ADP
ajfa-3495	91	8	controlling	control	VERB
ajfa-3495	91	9	the	the	DET
ajfa-3495	91	10	agency	agency	NOUN
ajfa-3495	91	11	problem	problem	NOUN
ajfa-3495	91	12	,	,	PUNCT
ajfa-3495	91	13	we	we	PRON
ajfa-3495	91	14	can	can	AUX
ajfa-3495	91	15	predict	predict	VERB
ajfa-3495	91	16	that	that	DET
ajfa-3495	91	17	relation	relation	NOUN
ajfa-3495	91	18	between	between	ADP
ajfa-3495	91	19	dividends	dividend	NOUN
ajfa-3495	91	20	and	and	CCONJ
ajfa-3495	91	21	leverage	leverage	NOUN
ajfa-3495	91	22	will	will	AUX
ajfa-3495	91	23	be	be	AUX
ajfa-3495	91	24	negative	negative	ADJ
ajfa-3495	91	25	.	.	PUNCT
ajfa-3495	92	1	the	the	DET
ajfa-3495	92	2	empirical	empirical	ADJ
ajfa-3495	92	3	study	study	NOUN
ajfa-3495	92	4	of	of	ADP
ajfa-3495	92	5	frank	frank	PROPN
ajfa-3495	92	6	and	and	CCONJ
ajfa-3495	92	7	goyal	goyal	PROPN
ajfa-3495	92	8	(	(	PUNCT
ajfa-3495	92	9	2004	2004	NUM
ajfa-3495	92	10	)	)	PUNCT
ajfa-3495	92	11	has	have	AUX
ajfa-3495	92	12	shown	show	VERB
ajfa-3495	92	13	that	that	SCONJ
ajfa-3495	92	14	dividend	dividend	NOUN
ajfa-3495	92	15	paying	pay	VERB
ajfa-3495	92	16	firms	firm	NOUN
ajfa-3495	92	17	have	have	VERB
ajfa-3495	92	18	lower	low	ADJ
ajfa-3495	92	19	leverage	leverage	NOUN
ajfa-3495	92	20	.	.	PUNCT
ajfa-3495	93	1	the	the	DET
ajfa-3495	93	2	dividend	dividend	NOUN
ajfa-3495	93	3	variable	variable	NOUN
ajfa-3495	93	4	(	(	PUNCT
ajfa-3495	93	5	divdum	divdum	NOUN
ajfa-3495	93	6	)	)	PUNCT
ajfa-3495	93	7	is	be	AUX
ajfa-3495	93	8	measured	measure	VERB
ajfa-3495	93	9	by	by	ADP
ajfa-3495	93	10	a	a	DET
ajfa-3495	93	11	dividend	dividend	NOUN
ajfa-3495	93	12	paying	pay	VERB
ajfa-3495	93	13	dichotomous	dichotomous	ADJ
ajfa-3495	93	14	variable	variable	NOUN
ajfa-3495	93	15	which	which	PRON
ajfa-3495	93	16	takes	take	VERB
ajfa-3495	93	17	a	a	DET
ajfa-3495	93	18	value	value	NOUN
ajfa-3495	93	19	of	of	ADP
ajfa-3495	93	20	unity	unity	NOUN
ajfa-3495	93	21	if	if	SCONJ
ajfa-3495	93	22	the	the	DET
ajfa-3495	93	23	firm	firm	NOUN
ajfa-3495	93	24	paid	pay	VERB
ajfa-3495	93	25	dividends	dividend	NOUN
ajfa-3495	93	26	in	in	ADP
ajfa-3495	93	27	the	the	DET
ajfa-3495	93	28	corresponding	corresponding	ADJ
ajfa-3495	93	29	year	year	NOUN
ajfa-3495	93	30	and	and	CCONJ
ajfa-3495	93	31	zero	zero	NUM
ajfa-3495	93	32	otherwise	otherwise	ADV
ajfa-3495	93	33	.	.	PUNCT
ajfa-3495	94	1	3.5	3.5	NUM
ajfa-3495	94	2	collateral	collateral	ADJ
ajfa-3495	94	3	assets	asset	NOUN
ajfa-3495	94	4	(	(	PUNCT
ajfa-3495	94	5	colltrl	colltrl	PROPN
ajfa-3495	94	6	)	)	PUNCT
ajfa-3495	94	7	the	the	DET
ajfa-3495	94	8	asymmetric	asymmetric	ADJ
ajfa-3495	94	9	information	information	NOUN
ajfa-3495	94	10	theory	theory	NOUN
ajfa-3495	94	11	explains	explain	VERB
ajfa-3495	94	12	that	that	SCONJ
ajfa-3495	94	13	moral	moral	ADJ
ajfa-3495	94	14	hazard	hazard	NOUN
ajfa-3495	94	15	and	and	CCONJ
ajfa-3495	94	16	adverse	adverse	ADJ
ajfa-3495	94	17	selection	selection	NOUN
ajfa-3495	94	18	problems	problem	NOUN
ajfa-3495	94	19	can	can	AUX
ajfa-3495	94	20	appear	appear	VERB
ajfa-3495	94	21	when	when	SCONJ
ajfa-3495	94	22	banks	bank	NOUN
ajfa-3495	94	23	or	or	CCONJ
ajfa-3495	94	24	creditors	creditor	NOUN
ajfa-3495	94	25	have	have	VERB
ajfa-3495	94	26	limited	limit	VERB
ajfa-3495	94	27	information	information	NOUN
ajfa-3495	94	28	on	on	ADP
ajfa-3495	94	29	investment	investment	NOUN
ajfa-3495	94	30	project	project	NOUN
ajfa-3495	94	31	returns	return	NOUN
ajfa-3495	94	32	.	.	PUNCT
ajfa-3495	95	1	collateral	collateral	NOUN
ajfa-3495	95	2	may	may	AUX
ajfa-3495	95	3	be	be	AUX
ajfa-3495	95	4	considered	consider	VERB
ajfa-3495	95	5	as	as	ADP
ajfa-3495	95	6	a	a	DET
ajfa-3495	95	7	signal	signal	NOUN
ajfa-3495	95	8	of	of	ADP
ajfa-3495	95	9	the	the	DET
ajfa-3495	95	10	solvency	solvency	NOUN
ajfa-3495	95	11	capacity	capacity	NOUN
ajfa-3495	95	12	of	of	ADP
ajfa-3495	95	13	the	the	DET
ajfa-3495	95	14	firm	firm	NOUN
ajfa-3495	95	15	and	and	CCONJ
ajfa-3495	95	16	it	it	PRON
ajfa-3495	95	17	can	can	AUX
ajfa-3495	95	18	diminish	diminish	VERB
ajfa-3495	95	19	the	the	DET
ajfa-3495	95	20	moral	moral	ADJ
ajfa-3495	95	21	hazard	hazard	NOUN
ajfa-3495	95	22	problem	problem	NOUN
ajfa-3495	95	23	.	.	PUNCT
ajfa-3495	96	1	therefore	therefore	ADV
ajfa-3495	96	2	,	,	PUNCT
ajfa-3495	96	3	tangible	tangible	ADJ
ajfa-3495	96	4	assets	asset	NOUN
ajfa-3495	96	5	are	be	AUX
ajfa-3495	96	6	likely	likely	ADJ
ajfa-3495	96	7	to	to	PART
ajfa-3495	96	8	have	have	VERB
ajfa-3495	96	9	an	an	DET
ajfa-3495	96	10	impact	impact	NOUN
ajfa-3495	96	11	on	on	ADP
ajfa-3495	96	12	the	the	DET
ajfa-3495	96	13	borrowing	borrowing	NOUN
ajfa-3495	96	14	decisions	decision	NOUN
ajfa-3495	96	15	of	of	ADP
ajfa-3495	96	16	firms	firm	NOUN
ajfa-3495	96	17	.	.	PUNCT
ajfa-3495	97	1	empirical	empirical	ADJ
ajfa-3495	97	2	studies	study	NOUN
ajfa-3495	97	3	(	(	PUNCT
ajfa-3495	97	4	for	for	ADP
ajfa-3495	97	5	example	example	NOUN
ajfa-3495	97	6	rajan	rajan	PROPN
ajfa-3495	97	7	and	and	CCONJ
ajfa-3495	97	8	zingales	zingale	NOUN
ajfa-3495	97	9	,	,	PUNCT
ajfa-3495	97	10	1995	1995	NUM
ajfa-3495	97	11	and	and	CCONJ
ajfa-3495	97	12	frank	frank	PROPN
ajfa-3495	97	13	and	and	CCONJ
ajfa-3495	97	14	goyal	goyal	PROPN
ajfa-3495	97	15	,	,	PUNCT
ajfa-3495	97	16	2004	2004	NUM
ajfa-3495	97	17	)	)	PUNCT
ajfa-3495	97	18	show	show	VERB
ajfa-3495	97	19	that	that	SCONJ
ajfa-3495	97	20	the	the	DET
ajfa-3495	97	21	relation	relation	NOUN
ajfa-3495	97	22	between	between	ADP
ajfa-3495	97	23	collateral	collateral	NOUN
ajfa-3495	97	24	and	and	CCONJ
ajfa-3495	97	25	leverage	leverage	NOUN
ajfa-3495	97	26	is	be	AUX
ajfa-3495	97	27	significant	significant	ADJ
ajfa-3495	97	28	and	and	CCONJ
ajfa-3495	97	29	positive	positive	ADJ
ajfa-3495	97	30	.	.	PUNCT
ajfa-3495	98	1	our	our	PRON
ajfa-3495	98	2	proxy	proxy	NOUN
ajfa-3495	98	3	for	for	ADP
ajfa-3495	98	4	the	the	DET
ajfa-3495	98	5	collateral	collateral	ADJ
ajfa-3495	98	6	value	value	NOUN
ajfa-3495	98	7	of	of	ADP
ajfa-3495	98	8	the	the	DET
ajfa-3495	98	9	firm	firm	NOUN
ajfa-3495	98	10	(	(	PUNCT
ajfa-3495	98	11	colltrl	colltrl	PROPN
ajfa-3495	98	12	)	)	PUNCT
ajfa-3495	98	13	is	be	AUX
ajfa-3495	98	14	the	the	DET
ajfa-3495	98	15	sum	sum	NOUN
ajfa-3495	98	16	of	of	ADP
ajfa-3495	98	17	inventory	inventory	NOUN
ajfa-3495	98	18	plus	plus	CCONJ
ajfa-3495	98	19	property	property	NOUN
ajfa-3495	98	20	,	,	PUNCT
ajfa-3495	98	21	plant	plant	NOUN
ajfa-3495	98	22	and	and	CCONJ
ajfa-3495	98	23	equipment	equipment	NOUN
ajfa-3495	98	24	divided	divide	VERB
ajfa-3495	98	25	by	by	ADP
ajfa-3495	98	26	total	total	ADJ
ajfa-3495	98	27	assets	asset	NOUN
ajfa-3495	98	28	.	.	PUNCT
ajfa-3495	99	1	we	we	PRON
ajfa-3495	99	2	predict	predict	VERB
ajfa-3495	99	3	a	a	DET
ajfa-3495	99	4	positive	positive	ADJ
ajfa-3495	99	5	relation	relation	NOUN
ajfa-3495	99	6	between	between	ADP
ajfa-3495	99	7	the	the	DET
ajfa-3495	99	8	level	level	NOUN
ajfa-3495	99	9	of	of	ADP
ajfa-3495	99	10	collateral	collateral	NOUN
ajfa-3495	99	11	and	and	CCONJ
ajfa-3495	99	12	leverage	leverage	NOUN
ajfa-3495	99	13	.	.	PUNCT
ajfa-3495	100	1	3.6	3.6	NUM
ajfa-3495	100	2	firm	firm	NOUN
ajfa-3495	100	3	profitability	profitability	NOUN
ajfa-3495	100	4	(	(	PUNCT
ajfa-3495	100	5	prf	prf	PROPN
ajfa-3495	100	6	)	)	PUNCT
ajfa-3495	100	7	from	from	ADP
ajfa-3495	100	8	a	a	DET
ajfa-3495	100	9	pecking	pecking	NOUN
ajfa-3495	100	10	-	-	PUNCT
ajfa-3495	100	11	order	order	NOUN
ajfa-3495	100	12	perspective	perspective	NOUN
ajfa-3495	100	13	,	,	PUNCT
ajfa-3495	100	14	for	for	ADP
ajfa-3495	100	15	firms	firm	NOUN
ajfa-3495	100	16	with	with	ADP
ajfa-3495	100	17	large	large	ADJ
ajfa-3495	100	18	expected	expect	VERB
ajfa-3495	100	19	investments	investment	NOUN
ajfa-3495	100	20	,	,	PUNCT
ajfa-3495	100	21	it	it	PRON
ajfa-3495	100	22	is	be	AUX
ajfa-3495	100	23	likely	likely	ADJ
ajfa-3495	100	24	that	that	SCONJ
ajfa-3495	100	25	financing	financing	NOUN
ajfa-3495	100	26	would	would	AUX
ajfa-3495	100	27	be	be	AUX
ajfa-3495	100	28	from	from	ADP
ajfa-3495	100	29	internal	internal	ADJ
ajfa-3495	100	30	sources	source	NOUN
ajfa-3495	100	31	and	and	CCONJ
ajfa-3495	100	32	low	low	ADJ
ajfa-3495	100	33	risk	risk	NOUN
ajfa-3495	100	34	debt	debt	NOUN
ajfa-3495	100	35	(	(	PUNCT
ajfa-3495	100	36	myers	myer	NOUN
ajfa-3495	100	37	,	,	PUNCT
ajfa-3495	100	38	1984	1984	NUM
ajfa-3495	100	39	)	)	PUNCT
ajfa-3495	100	40	.	.	PUNCT
ajfa-3495	101	1	indeed	indeed	ADV
ajfa-3495	101	2	,	,	PUNCT
ajfa-3495	101	3	to	to	PART
ajfa-3495	101	4	manage	manage	VERB
ajfa-3495	101	5	the	the	DET
ajfa-3495	101	6	risk	risk	NOUN
ajfa-3495	101	7	of	of	ADP
ajfa-3495	101	8	foregoing	forego	VERB
ajfa-3495	101	9	future	future	ADJ
ajfa-3495	101	10	investments	investment	NOUN
ajfa-3495	101	11	because	because	SCONJ
ajfa-3495	101	12	of	of	ADP
ajfa-3495	101	13	a	a	DET
ajfa-3495	101	14	lack	lack	NOUN
ajfa-3495	101	15	of	of	ADP
ajfa-3495	101	16	financing	financing	NOUN
ajfa-3495	101	17	resources	resource	NOUN
ajfa-3495	101	18	,	,	PUNCT
ajfa-3495	101	19	profitable	profitable	ADJ
ajfa-3495	101	20	asian	asian	ADJ
ajfa-3495	101	21	journal	journal	NOUN
ajfa-3495	101	22	of	of	ADP
ajfa-3495	101	23	finance	finance	PROPN
ajfa-3495	101	24	&	&	CCONJ
ajfa-3495	101	25	accounting	accounting	PROPN
ajfa-3495	101	26	issn	issn	PROPN
ajfa-3495	101	27	1946	1946	NUM
ajfa-3495	101	28	-	-	PUNCT
ajfa-3495	101	29	052x	052x	NOUN
ajfa-3495	101	30	2013	2013	NUM
ajfa-3495	101	31	,	,	PUNCT
ajfa-3495	101	32	vol	vol	NOUN
ajfa-3495	101	33	.	.	PROPN
ajfa-3495	102	1	5	5	NUM
ajfa-3495	102	2	,	,	PUNCT
ajfa-3495	102	3	no	no	INTJ
ajfa-3495	102	4	.	.	NOUN
ajfa-3495	102	5	1	1	NUM
ajfa-3495	102	6	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-3495	102	7	325	325	NUM
ajfa-3495	102	8	firms	firm	NOUN
ajfa-3495	102	9	will	will	AUX
ajfa-3495	102	10	choose	choose	VERB
ajfa-3495	102	11	to	to	PART
ajfa-3495	102	12	have	have	VERB
ajfa-3495	102	13	less	less	ADJ
ajfa-3495	102	14	current	current	ADJ
ajfa-3495	102	15	leverage	leverage	NOUN
ajfa-3495	102	16	.	.	PUNCT
ajfa-3495	103	1	frank	frank	PROPN
ajfa-3495	103	2	and	and	CCONJ
ajfa-3495	103	3	goyal	goyal	PROPN
ajfa-3495	103	4	(	(	PUNCT
ajfa-3495	103	5	2004	2004	NUM
ajfa-3495	103	6	)	)	PUNCT
ajfa-3495	103	7	has	have	AUX
ajfa-3495	103	8	shown	show	VERB
ajfa-3495	103	9	that	that	SCONJ
ajfa-3495	103	10	in	in	ADP
ajfa-3495	103	11	the	the	DET
ajfa-3495	103	12	us	us	PROPN
ajfa-3495	103	13	,	,	PUNCT
ajfa-3495	103	14	more	more	ADV
ajfa-3495	103	15	profitable	profitable	ADJ
ajfa-3495	103	16	firms	firm	NOUN
ajfa-3495	103	17	have	have	VERB
ajfa-3495	103	18	less	less	ADJ
ajfa-3495	103	19	debt	debt	NOUN
ajfa-3495	103	20	,	,	PUNCT
ajfa-3495	103	21	supporting	support	VERB
ajfa-3495	103	22	the	the	DET
ajfa-3495	103	23	pecking	pecking	NOUN
ajfa-3495	103	24	order	order	NOUN
ajfa-3495	103	25	theory	theory	NOUN
ajfa-3495	103	26	.	.	PUNCT
ajfa-3495	104	1	we	we	PRON
ajfa-3495	104	2	measure	measure	VERB
ajfa-3495	104	3	firm	firm	ADJ
ajfa-3495	104	4	profitability	profitability	NOUN
ajfa-3495	104	5	(	(	PUNCT
ajfa-3495	104	6	prf	prf	PROPN
ajfa-3495	104	7	)	)	PUNCT
ajfa-3495	104	8	as	as	ADP
ajfa-3495	104	9	the	the	DET
ajfa-3495	104	10	operating	operating	NOUN
ajfa-3495	104	11	income	income	NOUN
ajfa-3495	104	12	before	before	ADP
ajfa-3495	104	13	depreciation	depreciation	NOUN
ajfa-3495	104	14	to	to	ADP
ajfa-3495	104	15	total	total	ADJ
ajfa-3495	104	16	assets	asset	NOUN
ajfa-3495	104	17	.	.	PUNCT
ajfa-3495	105	1	we	we	PRON
ajfa-3495	105	2	expect	expect	VERB
ajfa-3495	105	3	a	a	DET
ajfa-3495	105	4	negative	negative	ADJ
ajfa-3495	105	5	relation	relation	NOUN
ajfa-3495	105	6	between	between	ADP
ajfa-3495	105	7	leverage	leverage	NOUN
ajfa-3495	105	8	and	and	CCONJ
ajfa-3495	105	9	profitability	profitability	NOUN
ajfa-3495	105	10	,	,	PUNCT
ajfa-3495	105	11	supporting	support	VERB
ajfa-3495	105	12	the	the	DET
ajfa-3495	105	13	pecking	pecking	NOUN
ajfa-3495	105	14	order	order	NOUN
ajfa-3495	105	15	theory	theory	NOUN
ajfa-3495	105	16	of	of	ADP
ajfa-3495	105	17	capital	capital	NOUN
ajfa-3495	105	18	structure	structure	NOUN
ajfa-3495	105	19	.	.	PUNCT
ajfa-3495	106	1	3.7	3.7	NUM
ajfa-3495	106	2	firm	firm	ADJ
ajfa-3495	106	3	size	size	NOUN
ajfa-3495	106	4	(	(	PUNCT
ajfa-3495	106	5	size	size	NOUN
ajfa-3495	106	6	)	)	PUNCT
ajfa-3495	106	7	the	the	DET
ajfa-3495	106	8	effect	effect	NOUN
ajfa-3495	106	9	of	of	ADP
ajfa-3495	106	10	firm	firm	ADJ
ajfa-3495	106	11	size	size	NOUN
ajfa-3495	106	12	on	on	ADP
ajfa-3495	106	13	leverage	leverage	NOUN
ajfa-3495	106	14	is	be	AUX
ajfa-3495	106	15	ambiguous	ambiguous	ADJ
ajfa-3495	106	16	.	.	PUNCT
ajfa-3495	107	1	rajan	rajan	PROPN
ajfa-3495	107	2	and	and	CCONJ
ajfa-3495	107	3	zingales	zingales	PROPN
ajfa-3495	107	4	(	(	PUNCT
ajfa-3495	107	5	1995	1995	NUM
ajfa-3495	107	6	)	)	PUNCT
ajfa-3495	107	7	find	find	VERB
ajfa-3495	107	8	that	that	SCONJ
ajfa-3495	107	9	financial	financial	ADJ
ajfa-3495	107	10	leverage	leverage	NOUN
ajfa-3495	107	11	increases	increase	VERB
ajfa-3495	107	12	with	with	ADP
ajfa-3495	107	13	size	size	NOUN
ajfa-3495	107	14	.	.	PUNCT
ajfa-3495	108	1	they	they	PRON
ajfa-3495	108	2	justify	justify	VERB
ajfa-3495	108	3	this	this	DET
ajfa-3495	108	4	finding	finding	NOUN
ajfa-3495	108	5	by	by	ADP
ajfa-3495	108	6	the	the	DET
ajfa-3495	108	7	fact	fact	NOUN
ajfa-3495	108	8	that	that	SCONJ
ajfa-3495	108	9	size	size	NOUN
ajfa-3495	108	10	is	be	AUX
ajfa-3495	108	11	an	an	DET
ajfa-3495	108	12	inverse	inverse	NOUN
ajfa-3495	108	13	proxy	proxy	NOUN
ajfa-3495	108	14	for	for	ADP
ajfa-3495	108	15	the	the	DET
ajfa-3495	108	16	probability	probability	NOUN
ajfa-3495	108	17	of	of	ADP
ajfa-3495	108	18	bankruptcy	bankruptcy	NOUN
ajfa-3495	108	19	.	.	PUNCT
ajfa-3495	109	1	bigger	big	ADJ
ajfa-3495	109	2	firms	firm	NOUN
ajfa-3495	109	3	can	can	AUX
ajfa-3495	109	4	diversify	diversify	VERB
ajfa-3495	109	5	more	more	ADV
ajfa-3495	109	6	easily	easily	ADV
ajfa-3495	109	7	and	and	CCONJ
ajfa-3495	109	8	so	so	ADV
ajfa-3495	109	9	the	the	DET
ajfa-3495	109	10	probability	probability	NOUN
ajfa-3495	109	11	of	of	ADP
ajfa-3495	109	12	being	be	AUX
ajfa-3495	109	13	in	in	ADP
ajfa-3495	109	14	financial	financial	ADJ
ajfa-3495	109	15	difficulty	difficulty	NOUN
ajfa-3495	109	16	is	be	AUX
ajfa-3495	109	17	lower	low	ADJ
ajfa-3495	109	18	.	.	PUNCT
ajfa-3495	110	1	under	under	ADP
ajfa-3495	110	2	the	the	DET
ajfa-3495	110	3	trade	trade	NOUN
ajfa-3495	110	4	-	-	PUNCT
ajfa-3495	110	5	off	off	ADP
ajfa-3495	110	6	theory	theory	NOUN
ajfa-3495	110	7	,	,	PUNCT
ajfa-3495	110	8	such	such	ADJ
ajfa-3495	110	9	companies	company	NOUN
ajfa-3495	110	10	can	can	AUX
ajfa-3495	110	11	increase	increase	VERB
ajfa-3495	110	12	the	the	DET
ajfa-3495	110	13	percentage	percentage	NOUN
ajfa-3495	110	14	of	of	ADP
ajfa-3495	110	15	debt	debt	NOUN
ajfa-3495	110	16	.	.	PUNCT
ajfa-3495	111	1	in	in	ADP
ajfa-3495	111	2	this	this	DET
ajfa-3495	111	3	case	case	NOUN
ajfa-3495	111	4	,	,	PUNCT
ajfa-3495	111	5	a	a	DET
ajfa-3495	111	6	positive	positive	ADJ
ajfa-3495	111	7	relationship	relationship	NOUN
ajfa-3495	111	8	between	between	ADP
ajfa-3495	111	9	size	size	NOUN
ajfa-3495	111	10	and	and	CCONJ
ajfa-3495	111	11	leverage	leverage	NOUN
ajfa-3495	111	12	is	be	AUX
ajfa-3495	111	13	to	to	PART
ajfa-3495	111	14	be	be	AUX
ajfa-3495	111	15	expected	expect	VERB
ajfa-3495	111	16	.	.	PUNCT
ajfa-3495	112	1	on	on	ADP
ajfa-3495	112	2	the	the	DET
ajfa-3495	112	3	other	other	ADJ
ajfa-3495	112	4	hand	hand	NOUN
ajfa-3495	112	5	,	,	PUNCT
ajfa-3495	112	6	size	size	NOUN
ajfa-3495	112	7	may	may	AUX
ajfa-3495	112	8	proxy	proxy	VERB
ajfa-3495	112	9	for	for	ADP
ajfa-3495	112	10	the	the	DET
ajfa-3495	112	11	information	information	NOUN
ajfa-3495	112	12	available	available	ADJ
ajfa-3495	112	13	to	to	ADP
ajfa-3495	112	14	outsiders	outsider	NOUN
ajfa-3495	112	15	.	.	PUNCT
ajfa-3495	113	1	under	under	ADP
ajfa-3495	113	2	the	the	DET
ajfa-3495	113	3	pecking	pecking	NOUN
ajfa-3495	113	4	order	order	NOUN
ajfa-3495	113	5	theory	theory	NOUN
ajfa-3495	113	6	,	,	PUNCT
ajfa-3495	113	7	less	less	ADJ
ajfa-3495	113	8	information	information	NOUN
ajfa-3495	113	9	asymmetry	asymmetry	NOUN
ajfa-3495	113	10	implies	imply	VERB
ajfa-3495	113	11	preference	preference	NOUN
ajfa-3495	113	12	for	for	ADP
ajfa-3495	113	13	equity	equity	NOUN
ajfa-3495	113	14	relative	relative	ADJ
ajfa-3495	113	15	to	to	ADP
ajfa-3495	113	16	debt	debt	NOUN
ajfa-3495	113	17	,	,	PUNCT
ajfa-3495	113	18	thus	thus	ADV
ajfa-3495	113	19	applying	apply	VERB
ajfa-3495	113	20	a	a	DET
ajfa-3495	113	21	negative	negative	ADJ
ajfa-3495	113	22	correlation	correlation	NOUN
ajfa-3495	113	23	between	between	ADP
ajfa-3495	113	24	size	size	NOUN
ajfa-3495	113	25	and	and	CCONJ
ajfa-3495	113	26	leverage	leverage	NOUN
ajfa-3495	113	27	.	.	PUNCT
ajfa-3495	114	1	given	give	VERB
ajfa-3495	114	2	those	those	DET
ajfa-3495	114	3	arguments	argument	NOUN
ajfa-3495	114	4	,	,	PUNCT
ajfa-3495	114	5	it	it	PRON
ajfa-3495	114	6	is	be	AUX
ajfa-3495	114	7	difficult	difficult	ADJ
ajfa-3495	114	8	to	to	PART
ajfa-3495	114	9	expect	expect	VERB
ajfa-3495	114	10	a	a	DET
ajfa-3495	114	11	clear	clear	ADJ
ajfa-3495	114	12	sign	sign	NOUN
ajfa-3495	114	13	of	of	ADP
ajfa-3495	114	14	the	the	DET
ajfa-3495	114	15	relation	relation	NOUN
ajfa-3495	114	16	between	between	ADP
ajfa-3495	114	17	firm	firm	ADJ
ajfa-3495	114	18	size	size	NOUN
ajfa-3495	114	19	and	and	CCONJ
ajfa-3495	114	20	leverage	leverage	NOUN
ajfa-3495	114	21	.	.	PUNCT
ajfa-3495	115	1	our	our	PRON
ajfa-3495	115	2	proxy	proxy	NOUN
ajfa-3495	115	3	for	for	ADP
ajfa-3495	115	4	firm	firm	ADJ
ajfa-3495	115	5	size	size	NOUN
ajfa-3495	115	6	(	(	PUNCT
ajfa-3495	115	7	size	size	NOUN
ajfa-3495	115	8	)	)	PUNCT
ajfa-3495	115	9	is	be	AUX
ajfa-3495	115	10	the	the	DET
ajfa-3495	115	11	natural	natural	ADJ
ajfa-3495	115	12	logarithm	logarithm	NOUN
ajfa-3495	115	13	of	of	ADP
ajfa-3495	115	14	total	total	ADJ
ajfa-3495	115	15	assets	asset	NOUN
ajfa-3495	115	16	.	.	PUNCT
ajfa-3495	116	1	4	4	X
ajfa-3495	116	2	.	.	X
ajfa-3495	116	3	objectives	objective	NOUN
ajfa-3495	116	4	of	of	ADP
ajfa-3495	116	5	study	study	NOUN
ajfa-3495	116	6	this	this	DET
ajfa-3495	116	7	study	study	NOUN
ajfa-3495	116	8	will	will	AUX
ajfa-3495	116	9	attempt	attempt	VERB
ajfa-3495	116	10	to	to	PART
ajfa-3495	116	11	accomplish	accomplish	VERB
ajfa-3495	116	12	the	the	DET
ajfa-3495	116	13	following	following	ADJ
ajfa-3495	116	14	objectives	objective	NOUN
ajfa-3495	116	15	:	:	PUNCT
ajfa-3495	116	16	i.	i.	NOUN
ajfa-3495	116	17	to	to	PART
ajfa-3495	116	18	identify	identify	VERB
ajfa-3495	116	19	the	the	DET
ajfa-3495	116	20	firm	firm	ADJ
ajfa-3495	116	21	specific	specific	ADJ
ajfa-3495	116	22	factors	factor	NOUN
ajfa-3495	116	23	affecting	affect	VERB
ajfa-3495	116	24	capital	capital	NOUN
ajfa-3495	116	25	structure	structure	NOUN
ajfa-3495	116	26	decisions	decision	NOUN
ajfa-3495	116	27	of	of	ADP
ajfa-3495	116	28	listed	list	VERB
ajfa-3495	116	29	firms	firm	NOUN
ajfa-3495	116	30	in	in	ADP
ajfa-3495	116	31	dhaka	dhaka	PROPN
ajfa-3495	116	32	stock	stock	PROPN
ajfa-3495	116	33	exchange	exchange	PROPN
ajfa-3495	116	34	.	.	PUNCT
ajfa-3495	117	1	ii	ii	PROPN
ajfa-3495	117	2	.	.	PUNCT
ajfa-3495	118	1	to	to	PART
ajfa-3495	118	2	analyze	analyze	VERB
ajfa-3495	118	3	how	how	SCONJ
ajfa-3495	118	4	the	the	DET
ajfa-3495	118	5	factors	factor	NOUN
ajfa-3495	118	6	affecting	affect	VERB
ajfa-3495	118	7	capital	capital	NOUN
ajfa-3495	118	8	structure	structure	NOUN
ajfa-3495	118	9	decision	decision	NOUN
ajfa-3495	118	10	are	be	AUX
ajfa-3495	118	11	related	relate	VERB
ajfa-3495	118	12	to	to	ADP
ajfa-3495	118	13	leverage	leverage	NOUN
ajfa-3495	118	14	.	.	PUNCT
ajfa-3495	119	1	5	5	X
ajfa-3495	119	2	.	.	X
ajfa-3495	119	3	hypotheses	hypothesis	NOUN
ajfa-3495	119	4	of	of	ADP
ajfa-3495	119	5	the	the	DET
ajfa-3495	119	6	study	study	NOUN
ajfa-3495	119	7	taking	take	VERB
ajfa-3495	119	8	into	into	ADP
ajfa-3495	119	9	account	account	NOUN
ajfa-3495	119	10	the	the	DET
ajfa-3495	119	11	literature	literature	NOUN
ajfa-3495	119	12	on	on	ADP
ajfa-3495	119	13	capital	capital	NOUN
ajfa-3495	119	14	structure	structure	NOUN
ajfa-3495	119	15	debate	debate	NOUN
ajfa-3495	119	16	,	,	PUNCT
ajfa-3495	119	17	the	the	DET
ajfa-3495	119	18	null	null	ADJ
ajfa-3495	119	19	hypotheses	hypothesis	NOUN
ajfa-3495	119	20	we	we	PRON
ajfa-3495	119	21	proposed	propose	VERB
ajfa-3495	119	22	about	about	ADP
ajfa-3495	119	23	the	the	DET
ajfa-3495	119	24	possible	possible	ADJ
ajfa-3495	119	25	determinants	determinant	NOUN
ajfa-3495	119	26	of	of	ADP
ajfa-3495	119	27	the	the	DET
ajfa-3495	119	28	capital	capital	NOUN
ajfa-3495	119	29	structure	structure	NOUN
ajfa-3495	119	30	decisions	decision	NOUN
ajfa-3495	119	31	of	of	ADP
ajfa-3495	119	32	listed	list	VERB
ajfa-3495	119	33	firms	firm	NOUN
ajfa-3495	119	34	are	be	AUX
ajfa-3495	119	35	as	as	SCONJ
ajfa-3495	119	36	follows	follow	VERB
ajfa-3495	119	37	:	:	PUNCT
ajfa-3495	119	38	h1	h1	NOUN
ajfa-3495	119	39	:	:	PUNCT
ajfa-3495	119	40	there	there	PRON
ajfa-3495	119	41	is	be	VERB
ajfa-3495	119	42	no	no	DET
ajfa-3495	119	43	significant	significant	ADJ
ajfa-3495	119	44	impact	impact	NOUN
ajfa-3495	119	45	of	of	ADP
ajfa-3495	119	46	liquidity	liquidity	NOUN
ajfa-3495	119	47	on	on	ADP
ajfa-3495	119	48	leverage	leverage	NOUN
ajfa-3495	119	49	.	.	PUNCT
ajfa-3495	120	1	h2	h2	NOUN
ajfa-3495	120	2	:	:	PUNCT
ajfa-3495	120	3	there	there	PRON
ajfa-3495	120	4	is	be	VERB
ajfa-3495	120	5	no	no	DET
ajfa-3495	120	6	significant	significant	ADJ
ajfa-3495	120	7	impact	impact	NOUN
ajfa-3495	120	8	of	of	ADP
ajfa-3495	120	9	market	market	NOUN
ajfa-3495	120	10	to	to	PART
ajfa-3495	120	11	book	book	VERB
ajfa-3495	120	12	on	on	ADP
ajfa-3495	120	13	leverage	leverage	NOUN
ajfa-3495	120	14	.	.	PUNCT
ajfa-3495	121	1	h3	h3	NOUN
ajfa-3495	121	2	:	:	PUNCT
ajfa-3495	121	3	there	there	PRON
ajfa-3495	121	4	is	be	VERB
ajfa-3495	121	5	no	no	DET
ajfa-3495	121	6	significant	significant	ADJ
ajfa-3495	121	7	impact	impact	NOUN
ajfa-3495	121	8	of	of	ADP
ajfa-3495	121	9	collateral	collateral	NOUN
ajfa-3495	121	10	on	on	ADP
ajfa-3495	121	11	leverage	leverage	NOUN
ajfa-3495	121	12	.	.	PUNCT
ajfa-3495	122	1	h4	h4	NOUN
ajfa-3495	122	2	:	:	PUNCT
ajfa-3495	122	3	there	there	PRON
ajfa-3495	122	4	is	be	VERB
ajfa-3495	122	5	no	no	DET
ajfa-3495	122	6	significant	significant	ADJ
ajfa-3495	122	7	impact	impact	NOUN
ajfa-3495	122	8	of	of	ADP
ajfa-3495	122	9	dividend	dividend	NOUN
ajfa-3495	122	10	on	on	ADP
ajfa-3495	122	11	leverage	leverage	NOUN
ajfa-3495	122	12	.	.	PUNCT
ajfa-3495	123	1	h5	h5	PROPN
ajfa-3495	123	2	:	:	PUNCT
ajfa-3495	123	3	there	there	PRON
ajfa-3495	123	4	is	be	VERB
ajfa-3495	123	5	no	no	DET
ajfa-3495	123	6	significant	significant	ADJ
ajfa-3495	123	7	impact	impact	NOUN
ajfa-3495	123	8	of	of	ADP
ajfa-3495	123	9	profitability	profitability	NOUN
ajfa-3495	123	10	on	on	ADP
ajfa-3495	123	11	leverage	leverage	NOUN
ajfa-3495	123	12	.	.	PUNCT
ajfa-3495	124	1	h6	h6	NOUN
ajfa-3495	124	2	:	:	PUNCT
ajfa-3495	124	3	there	there	PRON
ajfa-3495	124	4	is	be	VERB
ajfa-3495	124	5	no	no	DET
ajfa-3495	124	6	significant	significant	ADJ
ajfa-3495	124	7	impact	impact	NOUN
ajfa-3495	124	8	of	of	ADP
ajfa-3495	124	9	size	size	NOUN
ajfa-3495	124	10	on	on	ADP
ajfa-3495	124	11	leverage	leverage	NOUN
ajfa-3495	124	12	.	.	PUNCT
ajfa-3495	125	1	6	6	X
ajfa-3495	125	2	.	.	X
ajfa-3495	125	3	methodology	methodology	NOUN
ajfa-3495	125	4	of	of	ADP
ajfa-3495	125	5	the	the	DET
ajfa-3495	125	6	study	study	NOUN
ajfa-3495	125	7	6.1	6.1	NUM
ajfa-3495	125	8	sample	sample	NOUN
ajfa-3495	125	9	size	size	NOUN
ajfa-3495	125	10	the	the	DET
ajfa-3495	125	11	sample	sample	NOUN
ajfa-3495	125	12	consists	consist	VERB
ajfa-3495	125	13	of	of	ADP
ajfa-3495	125	14	all	all	DET
ajfa-3495	125	15	bangladeshi	bangladeshi	ADJ
ajfa-3495	125	16	firms	firm	NOUN
ajfa-3495	125	17	listed	list	VERB
ajfa-3495	125	18	on	on	ADP
ajfa-3495	125	19	the	the	DET
ajfa-3495	125	20	dhaka	dhaka	PROPN
ajfa-3495	125	21	stock	stock	PROPN
ajfa-3495	125	22	exchange	exchange	PROPN
ajfa-3495	125	23	(	(	PUNCT
ajfa-3495	125	24	dse	dse	PROPN
ajfa-3495	125	25	)	)	PUNCT
ajfa-3495	125	26	during	during	ADP
ajfa-3495	125	27	the	the	DET
ajfa-3495	125	28	year	year	NOUN
ajfa-3495	125	29	of	of	ADP
ajfa-3495	125	30	2004	2004	NUM
ajfa-3495	125	31	-	-	SYM
ajfa-3495	125	32	2011	2011	NUM
ajfa-3495	125	33	.	.	PUNCT
ajfa-3495	126	1	financial	financial	ADJ
ajfa-3495	126	2	companies	company	NOUN
ajfa-3495	126	3	are	be	AUX
ajfa-3495	126	4	excluded	exclude	VERB
ajfa-3495	126	5	because	because	SCONJ
ajfa-3495	126	6	they	they	PRON
ajfa-3495	126	7	are	be	AUX
ajfa-3495	126	8	subjected	subject	VERB
ajfa-3495	126	9	asian	asian	ADJ
ajfa-3495	126	10	journal	journal	NOUN
ajfa-3495	126	11	of	of	ADP
ajfa-3495	126	12	finance	finance	PROPN
ajfa-3495	126	13	&	&	CCONJ
ajfa-3495	126	14	accounting	accounting	PROPN
ajfa-3495	126	15	issn	issn	PROPN
ajfa-3495	126	16	1946	1946	NUM
ajfa-3495	126	17	-	-	PUNCT
ajfa-3495	126	18	052x	052x	NOUN
ajfa-3495	126	19	2013	2013	NUM
ajfa-3495	126	20	,	,	PUNCT
ajfa-3495	126	21	vol	vol	NOUN
ajfa-3495	126	22	.	.	PROPN
ajfa-3495	126	23	5	5	NUM
ajfa-3495	126	24	,	,	PUNCT
ajfa-3495	126	25	no	no	INTJ
ajfa-3495	126	26	.	.	NOUN
ajfa-3495	126	27	1	1	NUM
ajfa-3495	126	28	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-3495	126	29	326	326	NUM
ajfa-3495	126	30	to	to	ADP
ajfa-3495	126	31	legal	legal	ADJ
ajfa-3495	126	32	regulations	regulation	NOUN
ajfa-3495	126	33	from	from	ADP
ajfa-3495	126	34	central	central	ADJ
ajfa-3495	126	35	bank	bank	NOUN
ajfa-3495	126	36	regarding	regard	VERB
ajfa-3495	126	37	capital	capital	NOUN
ajfa-3495	126	38	structure	structure	NOUN
ajfa-3495	126	39	.	.	PUNCT
ajfa-3495	127	1	there	there	PRON
ajfa-3495	127	2	are	be	VERB
ajfa-3495	127	3	521	521	NUM
ajfa-3495	127	4	firms	firm	NOUN
ajfa-3495	127	5	listed	list	VERB
ajfa-3495	127	6	on	on	ADP
ajfa-3495	127	7	dhaka	dhaka	PROPN
ajfa-3495	127	8	stock	stock	PROPN
ajfa-3495	127	9	exchange	exchange	PROPN
ajfa-3495	127	10	including	include	VERB
ajfa-3495	127	11	191	191	NUM
ajfa-3495	127	12	non	non	ADJ
ajfa-3495	127	13	financial	financial	ADJ
ajfa-3495	127	14	firms	firm	NOUN
ajfa-3495	127	15	in	in	ADP
ajfa-3495	127	16	2013	2013	NUM
ajfa-3495	127	17	.	.	PUNCT
ajfa-3495	128	1	all	all	DET
ajfa-3495	128	2	the	the	DET
ajfa-3495	128	3	accounting	accounting	NOUN
ajfa-3495	128	4	and	and	CCONJ
ajfa-3495	128	5	financial	financial	ADJ
ajfa-3495	128	6	statement	statement	NOUN
ajfa-3495	128	7	data	datum	NOUN
ajfa-3495	128	8	are	be	AUX
ajfa-3495	128	9	sourced	source	VERB
ajfa-3495	128	10	from	from	ADP
ajfa-3495	128	11	balance	balance	NOUN
ajfa-3495	128	12	sheet	sheet	NOUN
ajfa-3495	128	13	and	and	CCONJ
ajfa-3495	128	14	income	income	NOUN
ajfa-3495	128	15	statement	statement	NOUN
ajfa-3495	128	16	of	of	ADP
ajfa-3495	128	17	specific	specific	ADJ
ajfa-3495	128	18	companies	company	NOUN
ajfa-3495	128	19	.	.	PUNCT
ajfa-3495	129	1	stock	stock	NOUN
ajfa-3495	129	2	return	return	NOUN
ajfa-3495	129	3	and	and	CCONJ
ajfa-3495	129	4	market	market	NOUN
ajfa-3495	129	5	price	price	NOUN
ajfa-3495	129	6	of	of	ADP
ajfa-3495	129	7	stock	stock	NOUN
ajfa-3495	129	8	data	datum	NOUN
ajfa-3495	129	9	are	be	AUX
ajfa-3495	129	10	sourced	source	VERB
ajfa-3495	129	11	from	from	ADP
ajfa-3495	129	12	secondary	secondary	ADJ
ajfa-3495	129	13	market	market	NOUN
ajfa-3495	129	14	(	(	PUNCT
ajfa-3495	129	15	i.e.	i.e.	X
ajfa-3495	129	16	dse	dse	PROPN
ajfa-3495	129	17	)	)	PUNCT
ajfa-3495	129	18	.	.	PUNCT
ajfa-3495	130	1	table	table	NOUN
ajfa-3495	130	2	1	1	NUM
ajfa-3495	130	3	illustrates	illustrate	VERB
ajfa-3495	130	4	frequency	frequency	NOUN
ajfa-3495	130	5	distribution	distribution	NOUN
ajfa-3495	130	6	of	of	ADP
ajfa-3495	130	7	industry	industry	NOUN
ajfa-3495	130	8	categorization	categorization	NOUN
ajfa-3495	130	9	.	.	PUNCT
ajfa-3495	131	1	table	table	NOUN
ajfa-3495	131	2	1	1	NUM
ajfa-3495	131	3	.	.	PUNCT
ajfa-3495	131	4	frequency	frequency	NOUN
ajfa-3495	131	5	distribution	distribution	NOUN
ajfa-3495	131	6	of	of	ADP
ajfa-3495	131	7	industry	industry	NOUN
ajfa-3495	131	8	classification	classification	NOUN
ajfa-3495	131	9	industry	industry	NOUN
ajfa-3495	131	10	frequency	frequency	NOUN
ajfa-3495	131	11	ceramic	ceramic	ADJ
ajfa-3495	131	12	3	3	NUM
ajfa-3495	131	13	cement	cement	NOUN
ajfa-3495	131	14	3	3	NUM
ajfa-3495	131	15	pharmaceuticals	pharmaceutical	NOUN
ajfa-3495	131	16	10	10	NUM
ajfa-3495	131	17	textile	textile	NOUN
ajfa-3495	131	18	9	9	NUM
ajfa-3495	131	19	fuel	fuel	NOUN
ajfa-3495	131	20	&	&	CCONJ
ajfa-3495	131	21	power	power	PROPN
ajfa-3495	131	22	4	4	NUM
ajfa-3495	131	23	food	food	NOUN
ajfa-3495	131	24	&	&	CCONJ
ajfa-3495	131	25	allied	ally	VERB
ajfa-3495	131	26	8	8	NUM
ajfa-3495	131	27	information	information	NOUN
ajfa-3495	131	28	technology	technology	NOUN
ajfa-3495	131	29	2	2	NUM
ajfa-3495	131	30	telecommunication	telecommunication	NOUN
ajfa-3495	131	31	1	1	NUM
ajfa-3495	131	32	engineering	engineering	NOUN
ajfa-3495	131	33	4	4	NUM
ajfa-3495	131	34	total	total	NOUN
ajfa-3495	131	35	44	44	NUM
ajfa-3495	131	36	6.2	6.2	NUM
ajfa-3495	131	37	data	datum	NOUN
ajfa-3495	131	38	collection	collection	NOUN
ajfa-3495	131	39	procedures	procedure	NOUN
ajfa-3495	131	40	this	this	DET
ajfa-3495	131	41	study	study	NOUN
ajfa-3495	131	42	is	be	AUX
ajfa-3495	131	43	based	base	VERB
ajfa-3495	131	44	on	on	ADP
ajfa-3495	131	45	secondary	secondary	ADJ
ajfa-3495	131	46	data	datum	NOUN
ajfa-3495	131	47	.	.	PUNCT
ajfa-3495	132	1	the	the	DET
ajfa-3495	132	2	data	datum	NOUN
ajfa-3495	132	3	used	use	VERB
ajfa-3495	132	4	in	in	ADP
ajfa-3495	132	5	this	this	DET
ajfa-3495	132	6	analysis	analysis	NOUN
ajfa-3495	132	7	can	can	AUX
ajfa-3495	132	8	be	be	AUX
ajfa-3495	132	9	divided	divide	VERB
ajfa-3495	132	10	into	into	ADP
ajfa-3495	132	11	two	two	NUM
ajfa-3495	132	12	groups	group	NOUN
ajfa-3495	132	13	:	:	PUNCT
ajfa-3495	132	14	the	the	DET
ajfa-3495	132	15	firm	firm	ADJ
ajfa-3495	132	16	specific	specific	ADJ
ajfa-3495	132	17	factors	factor	NOUN
ajfa-3495	132	18	influencing	influence	VERB
ajfa-3495	132	19	capital	capital	NOUN
ajfa-3495	132	20	structure	structure	NOUN
ajfa-3495	132	21	decision	decision	NOUN
ajfa-3495	132	22	(	(	PUNCT
ajfa-3495	132	23	independent	independent	ADJ
ajfa-3495	132	24	variables	variable	NOUN
ajfa-3495	132	25	)	)	PUNCT
ajfa-3495	132	26	and	and	CCONJ
ajfa-3495	132	27	the	the	DET
ajfa-3495	132	28	capital	capital	NOUN
ajfa-3495	132	29	structure	structure	NOUN
ajfa-3495	132	30	’s	’s	PART
ajfa-3495	132	31	variable	variable	NOUN
ajfa-3495	132	32	(	(	PUNCT
ajfa-3495	132	33	dependent	dependent	ADJ
ajfa-3495	132	34	variables	variable	NOUN
ajfa-3495	132	35	)	)	PUNCT
ajfa-3495	132	36	.	.	PUNCT
ajfa-3495	133	1	it	it	PRON
ajfa-3495	133	2	takes	take	VERB
ajfa-3495	133	3	ten	ten	NUM
ajfa-3495	133	4	potential	potential	ADJ
ajfa-3495	133	5	firm	firm	ADJ
ajfa-3495	133	6	specific	specific	ADJ
ajfa-3495	133	7	factors	factor	NOUN
ajfa-3495	133	8	that	that	PRON
ajfa-3495	133	9	may	may	AUX
ajfa-3495	133	10	have	have	VERB
ajfa-3495	133	11	significant	significant	ADJ
ajfa-3495	133	12	impact	impact	NOUN
ajfa-3495	133	13	on	on	ADP
ajfa-3495	133	14	capital	capital	NOUN
ajfa-3495	133	15	structure	structure	NOUN
ajfa-3495	133	16	decision	decision	NOUN
ajfa-3495	133	17	namely	namely	ADV
ajfa-3495	133	18	liquidity	liquidity	NOUN
ajfa-3495	133	19	,	,	PUNCT
ajfa-3495	133	20	market	market	NOUN
ajfa-3495	133	21	to	to	ADP
ajfa-3495	133	22	book	book	NOUN
ajfa-3495	133	23	,	,	PUNCT
ajfa-3495	133	24	dividend	dividend	NOUN
ajfa-3495	133	25	paid	pay	VERB
ajfa-3495	133	26	,	,	PUNCT
ajfa-3495	133	27	collateral	collateral	NOUN
ajfa-3495	133	28	,	,	PUNCT
ajfa-3495	133	29	profitability	profitability	NOUN
ajfa-3495	133	30	and	and	CCONJ
ajfa-3495	133	31	size	size	NOUN
ajfa-3495	133	32	,	,	PUNCT
ajfa-3495	133	33	and	and	CCONJ
ajfa-3495	133	34	industry	industry	NOUN
ajfa-3495	133	35	classification	classification	NOUN
ajfa-3495	133	36	.	.	PUNCT
ajfa-3495	134	1	in	in	ADP
ajfa-3495	134	2	this	this	DET
ajfa-3495	134	3	analysis	analysis	NOUN
ajfa-3495	134	4	,	,	PUNCT
ajfa-3495	134	5	the	the	DET
ajfa-3495	134	6	capital	capital	NOUN
ajfa-3495	134	7	structure	structure	NOUN
ajfa-3495	134	8	is	be	AUX
ajfa-3495	134	9	the	the	DET
ajfa-3495	134	10	dependant	dependant	ADJ
ajfa-3495	134	11	variable	variable	NOUN
ajfa-3495	134	12	and	and	CCONJ
ajfa-3495	134	13	it	it	PRON
ajfa-3495	134	14	is	be	AUX
ajfa-3495	134	15	measured	measure	VERB
ajfa-3495	134	16	by	by	ADP
ajfa-3495	134	17	the	the	DET
ajfa-3495	134	18	leverage	leverage	NOUN
ajfa-3495	134	19	.	.	PUNCT
ajfa-3495	135	1	these	these	DET
ajfa-3495	135	2	data	datum	NOUN
ajfa-3495	135	3	have	have	AUX
ajfa-3495	135	4	been	be	AUX
ajfa-3495	135	5	collected	collect	VERB
ajfa-3495	135	6	from	from	ADP
ajfa-3495	135	7	the	the	DET
ajfa-3495	135	8	book	book	NOUN
ajfa-3495	135	9	value	value	NOUN
ajfa-3495	135	10	based	base	VERB
ajfa-3495	135	11	yearly	yearly	ADJ
ajfa-3495	135	12	financial	financial	ADJ
ajfa-3495	135	13	data	datum	NOUN
ajfa-3495	135	14	given	give	VERB
ajfa-3495	135	15	in	in	ADP
ajfa-3495	135	16	the	the	DET
ajfa-3495	135	17	financial	financial	ADJ
ajfa-3495	135	18	statements	statement	NOUN
ajfa-3495	135	19	(	(	PUNCT
ajfa-3495	135	20	balance	balance	NOUN
ajfa-3495	135	21	sheet	sheet	NOUN
ajfa-3495	135	22	&	&	CCONJ
ajfa-3495	135	23	profit	profit	NOUN
ajfa-3495	135	24	and	and	CCONJ
ajfa-3495	135	25	loss	loss	VERB
ajfa-3495	135	26	a	a	DET
ajfa-3495	135	27	/	/	SYM
ajfa-3495	135	28	c	c	NOUN
ajfa-3495	135	29	)	)	PUNCT
ajfa-3495	135	30	of	of	ADP
ajfa-3495	135	31	selected	select	VERB
ajfa-3495	135	32	companies	company	NOUN
ajfa-3495	135	33	over	over	ADP
ajfa-3495	135	34	2004	2004	NUM
ajfa-3495	135	35	to	to	ADP
ajfa-3495	135	36	2011	2011	NUM
ajfa-3495	135	37	which	which	PRON
ajfa-3495	135	38	has	have	AUX
ajfa-3495	135	39	been	be	AUX
ajfa-3495	135	40	gathered	gather	VERB
ajfa-3495	135	41	from	from	ADP
ajfa-3495	135	42	dhaka	dhaka	PROPN
ajfa-3495	135	43	stock	stock	PROPN
ajfa-3495	135	44	exchange	exchange	PROPN
ajfa-3495	135	45	library	library	NOUN
ajfa-3495	135	46	6.3	6.3	NUM
ajfa-3495	135	47	empirical	empirical	ADJ
ajfa-3495	135	48	model	model	NOUN
ajfa-3495	135	49	this	this	DET
ajfa-3495	135	50	study	study	NOUN
ajfa-3495	135	51	combines	combine	VERB
ajfa-3495	135	52	cross	cross	ADJ
ajfa-3495	135	53	-	-	ADJ
ajfa-3495	135	54	sectional	sectional	ADJ
ajfa-3495	135	55	with	with	ADP
ajfa-3495	135	56	time	time	NOUN
ajfa-3495	135	57	series	series	NOUN
ajfa-3495	135	58	to	to	PART
ajfa-3495	135	59	make	make	VERB
ajfa-3495	135	60	it	it	PRON
ajfa-3495	135	61	a	a	DET
ajfa-3495	135	62	panel	panel	NOUN
ajfa-3495	135	63	data	datum	NOUN
ajfa-3495	135	64	.	.	PUNCT
ajfa-3495	136	1	as	as	SCONJ
ajfa-3495	136	2	noted	note	VERB
ajfa-3495	136	3	by	by	ADP
ajfa-3495	136	4	schulman	schulman	PROPN
ajfa-3495	136	5	et	et	PROPN
ajfa-3495	136	6	al	al	PROPN
ajfa-3495	136	7	(	(	PUNCT
ajfa-3495	136	8	1996	1996	NUM
ajfa-3495	136	9	)	)	PUNCT
ajfa-3495	136	10	,	,	PUNCT
ajfa-3495	136	11	panel	panel	NOUN
ajfa-3495	136	12	data	datum	NOUN
ajfa-3495	136	13	allow	allow	VERB
ajfa-3495	136	14	economists	economist	NOUN
ajfa-3495	136	15	and	and	CCONJ
ajfa-3495	136	16	other	other	ADJ
ajfa-3495	136	17	social	social	ADJ
ajfa-3495	136	18	scientists	scientist	NOUN
ajfa-3495	136	19	to	to	PART
ajfa-3495	136	20	analyze	analyze	VERB
ajfa-3495	136	21	,	,	PUNCT
ajfa-3495	136	22	in	in	ADP
ajfa-3495	136	23	depth	depth	NOUN
ajfa-3495	136	24	,	,	PUNCT
ajfa-3495	136	25	complex	complex	ADJ
ajfa-3495	136	26	economic	economic	ADJ
ajfa-3495	136	27	and	and	CCONJ
ajfa-3495	136	28	related	related	ADJ
ajfa-3495	136	29	issues	issue	NOUN
ajfa-3495	136	30	which	which	PRON
ajfa-3495	136	31	could	could	AUX
ajfa-3495	136	32	not	not	PART
ajfa-3495	136	33	be	be	AUX
ajfa-3495	136	34	treated	treat	VERB
ajfa-3495	136	35	with	with	ADP
ajfa-3495	136	36	equal	equal	ADJ
ajfa-3495	136	37	rigidity	rigidity	NOUN
ajfa-3495	136	38	using	use	VERB
ajfa-3495	136	39	time	time	NOUN
ajfa-3495	136	40	-	-	PUNCT
ajfa-3495	136	41	series	series	NOUN
ajfa-3495	136	42	or	or	CCONJ
ajfa-3495	136	43	cross	cross	ADJ
ajfa-3495	136	44	-	-	ADJ
ajfa-3495	136	45	sectional	sectional	ADJ
ajfa-3495	136	46	data	datum	NOUN
ajfa-3495	136	47	alone	alone	ADV
ajfa-3495	136	48	.	.	PUNCT
ajfa-3495	137	1	like	like	ADP
ajfa-3495	137	2	cross	cross	ADJ
ajfa-3495	137	3	-	-	ADJ
ajfa-3495	137	4	sectional	sectional	ADJ
ajfa-3495	137	5	data	datum	NOUN
ajfa-3495	137	6	,	,	PUNCT
ajfa-3495	137	7	panel	panel	NOUN
ajfa-3495	137	8	data	datum	NOUN
ajfa-3495	137	9	describes	describe	VERB
ajfa-3495	137	10	each	each	PRON
ajfa-3495	137	11	of	of	ADP
ajfa-3495	137	12	a	a	DET
ajfa-3495	137	13	number	number	NOUN
ajfa-3495	137	14	of	of	ADP
ajfa-3495	137	15	individuals	individual	NOUN
ajfa-3495	137	16	.	.	PUNCT
ajfa-3495	138	1	like	like	ADP
ajfa-3495	138	2	time	time	NOUN
ajfa-3495	138	3	-	-	PUNCT
ajfa-3495	138	4	series	series	NOUN
ajfa-3495	138	5	data	datum	NOUN
ajfa-3495	138	6	,	,	PUNCT
ajfa-3495	138	7	it	it	PRON
ajfa-3495	138	8	describes	describe	VERB
ajfa-3495	138	9	changes	change	NOUN
ajfa-3495	138	10	through	through	ADP
ajfa-3495	138	11	time	time	NOUN
ajfa-3495	138	12	.	.	PUNCT
ajfa-3495	139	1	according	accord	VERB
ajfa-3495	139	2	to	to	ADP
ajfa-3495	139	3	baltagi	baltagi	NOUN
ajfa-3495	139	4	(	(	PUNCT
ajfa-3495	139	5	1995	1995	NUM
ajfa-3495	139	6	)	)	PUNCT
ajfa-3495	139	7	,	,	PUNCT
ajfa-3495	139	8	by	by	ADP
ajfa-3495	139	9	combining	combine	VERB
ajfa-3495	139	10	time	time	NOUN
ajfa-3495	139	11	series	series	NOUN
ajfa-3495	139	12	of	of	ADP
ajfa-3495	139	13	cross	cross	ADJ
ajfa-3495	139	14	-	-	ADJ
ajfa-3495	139	15	section	section	ADJ
ajfa-3495	139	16	observations	observation	NOUN
ajfa-3495	139	17	,	,	PUNCT
ajfa-3495	139	18	panel	panel	NOUN
ajfa-3495	139	19	data	datum	NOUN
ajfa-3495	139	20	give	give	VERB
ajfa-3495	139	21	“	"	PUNCT
ajfa-3495	139	22	more	more	ADV
ajfa-3495	139	23	informative	informative	ADJ
ajfa-3495	139	24	data	datum	NOUN
ajfa-3495	139	25	,	,	PUNCT
ajfa-3495	139	26	more	more	ADJ
ajfa-3495	139	27	variability	variability	NOUN
ajfa-3495	139	28	,	,	PUNCT
ajfa-3495	139	29	less	less	ADJ
ajfa-3495	139	30	collinearity	collinearity	NOUN
ajfa-3495	139	31	among	among	ADP
ajfa-3495	139	32	variables	variable	NOUN
ajfa-3495	139	33	,	,	PUNCT
ajfa-3495	139	34	and	and	CCONJ
ajfa-3495	139	35	more	more	ADJ
ajfa-3495	139	36	efficiency	efficiency	NOUN
ajfa-3495	139	37	.	.	PUNCT
ajfa-3495	139	38	”	"	PUNCT
ajfa-3495	140	1	descriptive	descriptive	ADJ
ajfa-3495	140	2	and	and	CCONJ
ajfa-3495	140	3	quantitative	quantitative	ADJ
ajfa-3495	140	4	analysis	analysis	NOUN
ajfa-3495	140	5	is	be	AUX
ajfa-3495	140	6	used	use	VERB
ajfa-3495	140	7	for	for	ADP
ajfa-3495	140	8	this	this	DET
ajfa-3495	140	9	research	research	NOUN
ajfa-3495	140	10	.	.	PUNCT
ajfa-3495	141	1	descriptive	descriptive	ADJ
ajfa-3495	141	2	analysis	analysis	NOUN
ajfa-3495	141	3	presents	present	NOUN
ajfa-3495	141	4	mean	mean	VERB
ajfa-3495	141	5	,	,	PUNCT
ajfa-3495	141	6	median	median	ADJ
ajfa-3495	141	7	,	,	PUNCT
ajfa-3495	141	8	standard	standard	ADJ
ajfa-3495	141	9	deviation	deviation	NOUN
ajfa-3495	141	10	,	,	PUNCT
ajfa-3495	141	11	maximum	maximum	ADJ
ajfa-3495	141	12	and	and	CCONJ
ajfa-3495	141	13	minimum	minimum	ADJ
ajfa-3495	141	14	value	value	NOUN
ajfa-3495	141	15	for	for	ADP
ajfa-3495	141	16	each	each	DET
ajfa-3495	141	17	variable	variable	NOUN
ajfa-3495	141	18	used	use	VERB
ajfa-3495	141	19	in	in	ADP
ajfa-3495	141	20	the	the	DET
ajfa-3495	141	21	study	study	NOUN
ajfa-3495	141	22	.	.	PUNCT
ajfa-3495	142	1	in	in	ADP
ajfa-3495	142	2	quantitative	quantitative	ADJ
ajfa-3495	142	3	analysis	analysis	NOUN
ajfa-3495	142	4	,	,	PUNCT
ajfa-3495	142	5	pearson	pearson	PROPN
ajfa-3495	142	6	’s	’s	PART
ajfa-3495	142	7	correlation	correlation	NOUN
ajfa-3495	142	8	and	and	CCONJ
ajfa-3495	142	9	pooled	pool	VERB
ajfa-3495	142	10	regression	regression	NOUN
ajfa-3495	142	11	analysis	analysis	NOUN
ajfa-3495	142	12	is	be	AUX
ajfa-3495	142	13	used	use	VERB
ajfa-3495	142	14	.	.	PUNCT
ajfa-3495	143	1	in	in	ADP
ajfa-3495	143	2	regression	regression	NOUN
ajfa-3495	143	3	analysis	analysis	NOUN
ajfa-3495	143	4	fixed	fix	VERB
ajfa-3495	143	5	effects	effect	NOUN
ajfa-3495	143	6	model	model	NOUN
ajfa-3495	143	7	is	be	AUX
ajfa-3495	143	8	used	use	VERB
ajfa-3495	143	9	to	to	PART
ajfa-3495	143	10	investigate	investigate	VERB
ajfa-3495	143	11	the	the	DET
ajfa-3495	143	12	relationship	relationship	NOUN
ajfa-3495	143	13	and	and	CCONJ
ajfa-3495	143	14	also	also	ADV
ajfa-3495	143	15	to	to	PART
ajfa-3495	143	16	prove	prove	VERB
ajfa-3495	143	17	the	the	DET
ajfa-3495	143	18	hypotheses	hypothesis	NOUN
ajfa-3495	143	19	.	.	PUNCT
ajfa-3495	144	1	the	the	DET
ajfa-3495	144	2	cross	cross	PROPN
ajfa-3495	144	3	section	section	PROPN
ajfa-3495	144	4	company	company	NOUN
ajfa-3495	144	5	data	datum	NOUN
ajfa-3495	144	6	and	and	CCONJ
ajfa-3495	144	7	time	time	NOUN
ajfa-3495	144	8	asian	asian	PROPN
ajfa-3495	144	9	journal	journal	NOUN
ajfa-3495	144	10	of	of	ADP
ajfa-3495	144	11	finance	finance	PROPN
ajfa-3495	144	12	&	&	CCONJ
ajfa-3495	144	13	accounting	accounting	PROPN
ajfa-3495	144	14	issn	issn	PROPN
ajfa-3495	144	15	1946	1946	NUM
ajfa-3495	144	16	-	-	PUNCT
ajfa-3495	144	17	052x	052x	NOUN
ajfa-3495	144	18	2013	2013	NUM
ajfa-3495	144	19	,	,	PUNCT
ajfa-3495	144	20	vol	vol	NOUN
ajfa-3495	144	21	.	.	PROPN
ajfa-3495	144	22	5	5	NUM
ajfa-3495	144	23	,	,	PUNCT
ajfa-3495	144	24	no	no	INTJ
ajfa-3495	144	25	.	.	NOUN
ajfa-3495	144	26	1	1	NUM
ajfa-3495	144	27	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-3495	144	28	327	327	NUM
ajfa-3495	144	29	series	series	NOUN
ajfa-3495	144	30	data	datum	NOUN
ajfa-3495	144	31	are	be	AUX
ajfa-3495	144	32	pooled	pool	VERB
ajfa-3495	144	33	together	together	ADV
ajfa-3495	144	34	in	in	ADP
ajfa-3495	144	35	a	a	DET
ajfa-3495	144	36	single	single	ADJ
ajfa-3495	144	37	column	column	NOUN
ajfa-3495	144	38	letting	let	VERB
ajfa-3495	144	39	the	the	DET
ajfa-3495	144	40	intercept	intercept	NOUN
ajfa-3495	144	41	may	may	AUX
ajfa-3495	144	42	differ	differ	VERB
ajfa-3495	144	43	across	across	ADP
ajfa-3495	144	44	each	each	DET
ajfa-3495	144	45	cross	cross	ADJ
ajfa-3495	144	46	-	-	ADJ
ajfa-3495	144	47	sectional	sectional	ADJ
ajfa-3495	144	48	unit	unit	NOUN
ajfa-3495	144	49	(	(	PUNCT
ajfa-3495	144	50	here	here	ADV
ajfa-3495	144	51	the	the	DET
ajfa-3495	144	52	eight	eight	NUM
ajfa-3495	144	53	industries	industry	NOUN
ajfa-3495	144	54	)	)	PUNCT
ajfa-3495	144	55	and	and	CCONJ
ajfa-3495	144	56	each	each	DET
ajfa-3495	144	57	industry	industry	NOUN
ajfa-3495	144	58	’s	’s	PART
ajfa-3495	144	59	intercept	intercept	NOUN
ajfa-3495	144	60	does	do	AUX
ajfa-3495	144	61	not	not	PART
ajfa-3495	144	62	vary	vary	VERB
ajfa-3495	144	63	over	over	ADP
ajfa-3495	144	64	time	time	NOUN
ajfa-3495	144	65	.	.	PUNCT
ajfa-3495	145	1	in	in	ADP
ajfa-3495	145	2	addition	addition	NOUN
ajfa-3495	145	3	to	to	ADP
ajfa-3495	145	4	,	,	PUNCT
ajfa-3495	145	5	it	it	PRON
ajfa-3495	145	6	is	be	AUX
ajfa-3495	145	7	assumed	assume	VERB
ajfa-3495	145	8	that	that	SCONJ
ajfa-3495	145	9	the	the	DET
ajfa-3495	145	10	slope	slope	NOUN
ajfa-3495	145	11	coefficients	coefficient	NOUN
ajfa-3495	145	12	of	of	ADP
ajfa-3495	145	13	the	the	DET
ajfa-3495	145	14	regressors	regressor	NOUN
ajfa-3495	145	15	do	do	AUX
ajfa-3495	145	16	not	not	PART
ajfa-3495	145	17	vary	vary	VERB
ajfa-3495	145	18	across	across	ADP
ajfa-3495	145	19	industry	industry	NOUN
ajfa-3495	145	20	or	or	CCONJ
ajfa-3495	145	21	over	over	ADP
ajfa-3495	145	22	time	time	NOUN
ajfa-3495	145	23	.	.	PUNCT
ajfa-3495	146	1	the	the	DET
ajfa-3495	146	2	estimation	estimation	NOUN
ajfa-3495	146	3	method	method	NOUN
ajfa-3495	146	4	used	use	VERB
ajfa-3495	146	5	is	be	AUX
ajfa-3495	146	6	seemingly	seemingly	ADV
ajfa-3495	146	7	unrelated	unrelated	ADJ
ajfa-3495	146	8	regression	regression	NOUN
ajfa-3495	146	9	in	in	ADP
ajfa-3495	146	10	eviews	eview	NOUN
ajfa-3495	146	11	with	with	ADP
ajfa-3495	146	12	a	a	DET
ajfa-3495	146	13	common	common	ADJ
ajfa-3495	146	14	intercept	intercept	NOUN
ajfa-3495	146	15	.	.	PUNCT
ajfa-3495	147	1	this	this	DET
ajfa-3495	147	2	method	method	NOUN
ajfa-3495	147	3	estimates	estimate	VERB
ajfa-3495	147	4	a	a	DET
ajfa-3495	147	5	feasible	feasible	ADJ
ajfa-3495	147	6	gls	gls	NOUN
ajfa-3495	147	7	specification	specification	NOUN
ajfa-3495	147	8	correcting	correct	VERB
ajfa-3495	147	9	for	for	ADP
ajfa-3495	147	10	both	both	DET
ajfa-3495	147	11	cross	cross	ADJ
ajfa-3495	147	12	-	-	ADJ
ajfa-3495	147	13	section	section	ADJ
ajfa-3495	147	14	heteroskedasticity	heteroskedasticity	NOUN
ajfa-3495	147	15	and	and	CCONJ
ajfa-3495	147	16	contemporaneous	contemporaneous	ADJ
ajfa-3495	147	17	correlation	correlation	NOUN
ajfa-3495	147	18	.	.	PUNCT
ajfa-3495	148	1	to	to	PART
ajfa-3495	148	2	ascertain	ascertain	VERB
ajfa-3495	148	3	the	the	DET
ajfa-3495	148	4	significance	significance	NOUN
ajfa-3495	148	5	of	of	ADP
ajfa-3495	148	6	these	these	DET
ajfa-3495	148	7	determinants	determinant	NOUN
ajfa-3495	148	8	for	for	ADP
ajfa-3495	148	9	leverage	leverage	NOUN
ajfa-3495	148	10	we	we	PRON
ajfa-3495	148	11	use	use	VERB
ajfa-3495	148	12	a	a	DET
ajfa-3495	148	13	pooled	pool	VERB
ajfa-3495	148	14	cross	cross	NOUN
ajfa-3495	148	15	sectional	sectional	ADJ
ajfa-3495	148	16	time	time	NOUN
ajfa-3495	148	17	-	-	PUNCT
ajfa-3495	148	18	series	series	NOUN
ajfa-3495	148	19	model	model	NOUN
ajfa-3495	148	20	as	as	SCONJ
ajfa-3495	148	21	follows	follow	VERB
ajfa-3495	148	22	:	:	PUNCT
ajfa-3495	149	1	=	=	NOUN
ajfa-3495	149	2	+	+	NUM
ajfa-3495	149	3	α	α	NOUN
ajfa-3495	149	4	,	,	PUNCT
ajfa-3495	149	5	+	+	CCONJ
ajfa-3495	149	6	α	α	X
ajfa-3495	149	7	mb	mb	NOUN
ajfa-3495	149	8	,	,	PUNCT
ajfa-3495	149	9	+	+	CCONJ
ajfa-3495	149	10	divdum	divdum	NOUN
ajfa-3495	149	11	,	,	PUNCT
ajfa-3495	149	12	+	+	CCONJ
ajfa-3495	149	13	,	,	PUNCT
ajfa-3495	149	14	+	+	CCONJ
ajfa-3495	149	15	,	,	PUNCT
ajfa-3495	149	16	+	+	CCONJ
ajfa-3495	149	17	,	,	PUNCT
ajfa-3495	149	18	+	+	CCONJ
ajfa-3495	149	19	ε	ε	PROPN
ajfa-3495	149	20	(	(	PUNCT
ajfa-3495	149	21	1	1	X
ajfa-3495	149	22	)	)	PUNCT
ajfa-3495	149	23	all	all	DET
ajfa-3495	149	24	the	the	DET
ajfa-3495	149	25	independent	independent	ADJ
ajfa-3495	149	26	variables	variable	NOUN
ajfa-3495	149	27	are	be	AUX
ajfa-3495	149	28	lagged	lag	VERB
ajfa-3495	149	29	one	one	NUM
ajfa-3495	149	30	year	year	NOUN
ajfa-3495	149	31	.	.	PUNCT
ajfa-3495	150	1	this	this	PRON
ajfa-3495	150	2	allows	allow	VERB
ajfa-3495	150	3	the	the	DET
ajfa-3495	150	4	information	information	NOUN
ajfa-3495	150	5	regarding	regard	VERB
ajfa-3495	150	6	the	the	DET
ajfa-3495	150	7	determinants	determinant	NOUN
ajfa-3495	150	8	of	of	ADP
ajfa-3495	150	9	capital	capital	NOUN
ajfa-3495	150	10	structure	structure	NOUN
ajfa-3495	150	11	to	to	PART
ajfa-3495	150	12	be	be	AUX
ajfa-3495	150	13	available	available	ADJ
ajfa-3495	150	14	to	to	ADP
ajfa-3495	150	15	managers	manager	NOUN
ajfa-3495	150	16	in	in	ADP
ajfa-3495	150	17	the	the	DET
ajfa-3495	150	18	year	year	NOUN
ajfa-3495	150	19	prior	prior	ADV
ajfa-3495	150	20	to	to	ADP
ajfa-3495	150	21	the	the	DET
ajfa-3495	150	22	observed	observed	ADJ
ajfa-3495	150	23	level	level	NOUN
ajfa-3495	150	24	of	of	ADP
ajfa-3495	150	25	leverage	leverage	NOUN
ajfa-3495	150	26	.	.	PUNCT
ajfa-3495	151	1	leverage	leverage	NOUN
ajfa-3495	151	2	is	be	AUX
ajfa-3495	151	3	the	the	DET
ajfa-3495	151	4	total	total	ADJ
ajfa-3495	151	5	amounts	amount	NOUN
ajfa-3495	151	6	of	of	ADP
ajfa-3495	151	7	debt	debt	NOUN
ajfa-3495	151	8	to	to	ADP
ajfa-3495	151	9	market	market	NOUN
ajfa-3495	151	10	value	value	NOUN
ajfa-3495	151	11	of	of	ADP
ajfa-3495	151	12	assets	asset	NOUN
ajfa-3495	151	13	of	of	ADP
ajfa-3495	151	14	firm	firm	ADJ
ajfa-3495	151	15	i	i	PRON
ajfa-3495	151	16	at	at	ADP
ajfa-3495	151	17	a	a	DET
ajfa-3495	151	18	time	time	NOUN
ajfa-3495	151	19	t	t	NOUN
ajfa-3495	151	20	,	,	PUNCT
ajfa-3495	151	21	defined	define	VERB
ajfa-3495	151	22	as	as	ADP
ajfa-3495	151	23	:	:	PUNCT
ajfa-3495	151	24	=	=	SYM
ajfa-3495	151	25	(	(	PUNCT
ajfa-3495	151	26	2	2	NUM
ajfa-3495	151	27	)	)	PUNCT
ajfa-3495	151	28	market	market	NOUN
ajfa-3495	151	29	value	value	NOUN
ajfa-3495	151	30	of	of	ADP
ajfa-3495	151	31	assets	asset	NOUN
ajfa-3495	151	32	is	be	AUX
ajfa-3495	151	33	obtained	obtain	VERB
ajfa-3495	151	34	as	as	ADP
ajfa-3495	151	35	the	the	DET
ajfa-3495	151	36	sum	sum	NOUN
ajfa-3495	151	37	of	of	ADP
ajfa-3495	151	38	the	the	DET
ajfa-3495	151	39	market	market	NOUN
ajfa-3495	151	40	value	value	NOUN
ajfa-3495	151	41	of	of	ADP
ajfa-3495	151	42	equity	equity	NOUN
ajfa-3495	151	43	,	,	PUNCT
ajfa-3495	151	44	long	long	ADJ
ajfa-3495	151	45	term	term	NOUN
ajfa-3495	151	46	debt	debt	NOUN
ajfa-3495	151	47	,	,	PUNCT
ajfa-3495	151	48	short	short	ADJ
ajfa-3495	151	49	term	term	NOUN
ajfa-3495	151	50	debt	debt	NOUN
ajfa-3495	151	51	,	,	PUNCT
ajfa-3495	151	52	preferred	prefer	VERB
ajfa-3495	151	53	-	-	PUNCT
ajfa-3495	151	54	liquidation	liquidation	NOUN
ajfa-3495	151	55	value	value	NOUN
ajfa-3495	151	56	,	,	PUNCT
ajfa-3495	151	57	deferred	defer	VERB
ajfa-3495	151	58	taxes	taxis	NOUN
ajfa-3495	151	59	and	and	CCONJ
ajfa-3495	151	60	investment	investment	NOUN
ajfa-3495	151	61	tax	tax	NOUN
ajfa-3495	151	62	credit	credit	NOUN
ajfa-3495	151	63	.	.	PUNCT
ajfa-3495	152	1	rajan	rajan	PROPN
ajfa-3495	152	2	and	and	CCONJ
ajfa-3495	152	3	zingales	zingales	PROPN
ajfa-3495	152	4	(	(	PUNCT
ajfa-3495	152	5	1995	1995	NUM
ajfa-3495	152	6	)	)	PUNCT
ajfa-3495	152	7	and	and	CCONJ
ajfa-3495	152	8	frank	frank	PROPN
ajfa-3495	152	9	and	and	CCONJ
ajfa-3495	152	10	goyal	goyal	PROPN
ajfa-3495	152	11	(	(	PUNCT
ajfa-3495	152	12	2004	2004	NUM
ajfa-3495	152	13	)	)	PUNCT
ajfa-3495	152	14	discuss	discuss	VERB
ajfa-3495	152	15	various	various	ADJ
ajfa-3495	152	16	definitions	definition	NOUN
ajfa-3495	152	17	of	of	ADP
ajfa-3495	152	18	leverage	leverage	NOUN
ajfa-3495	152	19	and	and	CCONJ
ajfa-3495	152	20	argue	argue	VERB
ajfa-3495	152	21	that	that	SCONJ
ajfa-3495	152	22	the	the	DET
ajfa-3495	152	23	most	most	ADV
ajfa-3495	152	24	appropriate	appropriate	ADJ
ajfa-3495	152	25	measure	measure	NOUN
ajfa-3495	152	26	is	be	AUX
ajfa-3495	152	27	the	the	DET
ajfa-3495	152	28	total	total	ADJ
ajfa-3495	152	29	debt	debt	NOUN
ajfa-3495	152	30	to	to	ADP
ajfa-3495	152	31	market	market	NOUN
ajfa-3495	152	32	value	value	NOUN
ajfa-3495	152	33	of	of	ADP
ajfa-3495	152	34	assets	asset	NOUN
ajfa-3495	152	35	7	7	NUM
ajfa-3495	152	36	.	.	PUNCT
ajfa-3495	152	37	analysis	analysis	NOUN
ajfa-3495	152	38	and	and	CCONJ
ajfa-3495	152	39	discussion	discussion	NOUN
ajfa-3495	152	40	of	of	ADP
ajfa-3495	152	41	results	result	NOUN
ajfa-3495	152	42	this	this	DET
ajfa-3495	152	43	section	section	NOUN
ajfa-3495	152	44	contains	contain	VERB
ajfa-3495	152	45	the	the	DET
ajfa-3495	152	46	descriptive	descriptive	ADJ
ajfa-3495	152	47	statistics	statistic	NOUN
ajfa-3495	152	48	,	,	PUNCT
ajfa-3495	152	49	correlation	correlation	NOUN
ajfa-3495	152	50	coefficient	coefficient	NOUN
ajfa-3495	152	51	and	and	CCONJ
ajfa-3495	152	52	the	the	DET
ajfa-3495	152	53	results	result	NOUN
ajfa-3495	152	54	of	of	ADP
ajfa-3495	152	55	regression	regression	NOUN
ajfa-3495	152	56	analysis	analysis	NOUN
ajfa-3495	152	57	of	of	ADP
ajfa-3495	152	58	44	44	NUM
ajfa-3495	152	59	sample	sample	NOUN
ajfa-3495	152	60	firms	firm	NOUN
ajfa-3495	152	61	in	in	ADP
ajfa-3495	152	62	seven	seven	NUM
ajfa-3495	152	63	types	type	NOUN
ajfa-3495	152	64	of	of	ADP
ajfa-3495	152	65	industries	industry	NOUN
ajfa-3495	152	66	listed	list	VERB
ajfa-3495	152	67	on	on	ADP
ajfa-3495	152	68	dse	dse	PROPN
ajfa-3495	152	69	during	during	ADP
ajfa-3495	152	70	the	the	DET
ajfa-3495	152	71	five	five	NUM
ajfa-3495	152	72	year	year	NOUN
ajfa-3495	152	73	period	period	NOUN
ajfa-3495	152	74	from	from	ADP
ajfa-3495	152	75	2004	2004	NUM
ajfa-3495	152	76	to	to	ADP
ajfa-3495	152	77	2011	2011	NUM
ajfa-3495	152	78	.	.	PUNCT
ajfa-3495	153	1	the	the	DET
ajfa-3495	153	2	interpretation	interpretation	NOUN
ajfa-3495	153	3	of	of	ADP
ajfa-3495	153	4	the	the	DET
ajfa-3495	153	5	empirical	empirical	ADJ
ajfa-3495	153	6	findings	finding	NOUN
ajfa-3495	153	7	is	be	AUX
ajfa-3495	153	8	also	also	ADV
ajfa-3495	153	9	presented	present	VERB
ajfa-3495	153	10	in	in	ADP
ajfa-3495	153	11	this	this	DET
ajfa-3495	153	12	section	section	NOUN
ajfa-3495	153	13	.	.	PUNCT
ajfa-3495	154	1	finally	finally	ADV
ajfa-3495	154	2	,	,	PUNCT
ajfa-3495	154	3	important	important	ADJ
ajfa-3495	154	4	conclusions	conclusion	NOUN
ajfa-3495	154	5	about	about	ADP
ajfa-3495	154	6	the	the	DET
ajfa-3495	154	7	results	result	NOUN
ajfa-3495	154	8	of	of	ADP
ajfa-3495	154	9	the	the	DET
ajfa-3495	154	10	study	study	NOUN
ajfa-3495	154	11	have	have	AUX
ajfa-3495	154	12	been	be	AUX
ajfa-3495	154	13	drawn	draw	VERB
ajfa-3495	154	14	7.1	7.1	NUM
ajfa-3495	154	15	descriptive	descriptive	ADJ
ajfa-3495	154	16	statistics	statistic	NOUN
ajfa-3495	154	17	table	table	NOUN
ajfa-3495	154	18	2	2	NUM
ajfa-3495	154	19	presents	present	NOUN
ajfa-3495	154	20	summary	summary	NOUN
ajfa-3495	154	21	statistics	statistic	NOUN
ajfa-3495	154	22	of	of	ADP
ajfa-3495	154	23	the	the	DET
ajfa-3495	154	24	relevant	relevant	ADJ
ajfa-3495	154	25	variables	variable	NOUN
ajfa-3495	154	26	.	.	PUNCT
ajfa-3495	155	1	the	the	DET
ajfa-3495	155	2	average	average	ADJ
ajfa-3495	155	3	leverage	leverage	NOUN
ajfa-3495	155	4	of	of	ADP
ajfa-3495	155	5	firms	firm	NOUN
ajfa-3495	155	6	(	(	PUNCT
ajfa-3495	155	7	leverage	leverage	NOUN
ajfa-3495	155	8	)	)	PUNCT
ajfa-3495	155	9	in	in	ADP
ajfa-3495	155	10	the	the	DET
ajfa-3495	155	11	sample	sample	NOUN
ajfa-3495	155	12	is	be	AUX
ajfa-3495	155	13	approximately	approximately	ADV
ajfa-3495	155	14	61.56	61.56	NUM
ajfa-3495	155	15	%	%	NOUN
ajfa-3495	155	16	.	.	PUNCT
ajfa-3495	156	1	this	this	DET
ajfa-3495	156	2	value	value	NOUN
ajfa-3495	156	3	represents	represent	VERB
ajfa-3495	156	4	an	an	DET
ajfa-3495	156	5	average	average	NOUN
ajfa-3495	156	6	in	in	ADP
ajfa-3495	156	7	both	both	DET
ajfa-3495	156	8	time	time	NOUN
ajfa-3495	156	9	series	series	PROPN
ajfa-3495	156	10	and	and	CCONJ
ajfa-3495	156	11	cross	cross	PROPN
ajfa-3495	156	12	section	section	NOUN
ajfa-3495	156	13	.	.	PUNCT
ajfa-3495	157	1	the	the	DET
ajfa-3495	157	2	average	average	ADJ
ajfa-3495	157	3	dividend	dividend	NOUN
ajfa-3495	157	4	payment	payment	NOUN
ajfa-3495	157	5	is	be	AUX
ajfa-3495	157	6	66.75	66.75	NUM
ajfa-3495	157	7	%	%	NOUN
ajfa-3495	157	8	across	across	ADP
ajfa-3495	157	9	the	the	DET
ajfa-3495	157	10	sample	sample	NOUN
ajfa-3495	157	11	.	.	PUNCT
ajfa-3495	158	1	the	the	DET
ajfa-3495	158	2	minimum	minimum	NOUN
ajfa-3495	158	3	of	of	ADP
ajfa-3495	158	4	1	1	NUM
ajfa-3495	158	5	%	%	NOUN
ajfa-3495	158	6	and	and	CCONJ
ajfa-3495	158	7	maximum	maximum	NOUN
ajfa-3495	158	8	of	of	ADP
ajfa-3495	158	9	100	100	NUM
ajfa-3495	158	10	%	%	NOUN
ajfa-3495	158	11	indicates	indicate	VERB
ajfa-3495	158	12	most	most	ADJ
ajfa-3495	158	13	of	of	ADP
ajfa-3495	158	14	the	the	DET
ajfa-3495	158	15	sampled	sample	VERB
ajfa-3495	158	16	firms	firm	NOUN
ajfa-3495	158	17	paid	pay	VERB
ajfa-3495	158	18	dividend	dividend	NOUN
ajfa-3495	158	19	during	during	ADP
ajfa-3495	158	20	this	this	DET
ajfa-3495	158	21	period	period	NOUN
ajfa-3495	158	22	2004	2004	NUM
ajfa-3495	158	23	-	-	SYM
ajfa-3495	158	24	2011	2011	NUM
ajfa-3495	158	25	.	.	PUNCT
ajfa-3495	159	1	the	the	DET
ajfa-3495	159	2	average	average	ADJ
ajfa-3495	159	3	liquidity	liquidity	NOUN
ajfa-3495	159	4	of	of	ADP
ajfa-3495	159	5	bangladeshi	bangladeshi	ADJ
ajfa-3495	159	6	firms	firm	NOUN
ajfa-3495	159	7	is	be	AUX
ajfa-3495	159	8	2.15	2.15	NUM
ajfa-3495	159	9	,	,	PUNCT
ajfa-3495	159	10	it	it	PRON
ajfa-3495	159	11	indicates	indicate	VERB
ajfa-3495	159	12	current	current	ADJ
ajfa-3495	159	13	assets	asset	NOUN
ajfa-3495	159	14	are	be	AUX
ajfa-3495	159	15	2.15	2.15	NUM
ajfa-3495	159	16	times	time	NOUN
ajfa-3495	159	17	higher	high	ADJ
ajfa-3495	159	18	than	than	ADP
ajfa-3495	159	19	current	current	ADJ
ajfa-3495	159	20	liabilities	liability	NOUN
ajfa-3495	159	21	and	and	CCONJ
ajfa-3495	159	22	which	which	PRON
ajfa-3495	159	23	is	be	AUX
ajfa-3495	159	24	quite	quite	ADV
ajfa-3495	159	25	good	good	ADJ
ajfa-3495	159	26	in	in	ADP
ajfa-3495	159	27	terms	term	NOUN
ajfa-3495	159	28	of	of	ADP
ajfa-3495	159	29	liquidity	liquidity	NOUN
ajfa-3495	159	30	.	.	PUNCT
ajfa-3495	160	1	the	the	DET
ajfa-3495	160	2	average	average	ADJ
ajfa-3495	160	3	market	market	NOUN
ajfa-3495	160	4	-	-	PUNCT
ajfa-3495	160	5	to	to	ADP
ajfa-3495	160	6	-	-	PUNCT
ajfa-3495	160	7	book	book	NOUN
ajfa-3495	160	8	ratio	ratio	NOUN
ajfa-3495	160	9	(	(	PUNCT
ajfa-3495	160	10	mb	mb	NOUN
ajfa-3495	160	11	)	)	PUNCT
ajfa-3495	160	12	is	be	AUX
ajfa-3495	160	13	26.75	26.75	NUM
ajfa-3495	160	14	times	time	NOUN
ajfa-3495	160	15	.	.	PUNCT
ajfa-3495	161	1	this	this	PRON
ajfa-3495	161	2	implies	imply	VERB
ajfa-3495	161	3	that	that	SCONJ
ajfa-3495	161	4	bangladeshi	bangladeshi	ADJ
ajfa-3495	161	5	firms	firm	NOUN
ajfa-3495	161	6	are	be	AUX
ajfa-3495	161	7	overvalued	overvalued	ADJ
ajfa-3495	161	8	value	value	NOUN
ajfa-3495	161	9	firms	firm	NOUN
ajfa-3495	161	10	over	over	ADP
ajfa-3495	161	11	the	the	DET
ajfa-3495	161	12	sample	sample	NOUN
ajfa-3495	161	13	period	period	NOUN
ajfa-3495	161	14	,	,	PUNCT
ajfa-3495	161	15	trading	trading	NOUN
ajfa-3495	161	16	at	at	ADP
ajfa-3495	161	17	premium	premium	NOUN
ajfa-3495	161	18	to	to	ADP
ajfa-3495	161	19	their	their	PRON
ajfa-3495	161	20	book	book	NOUN
ajfa-3495	161	21	value	value	NOUN
ajfa-3495	161	22	.	.	PUNCT
ajfa-3495	162	1	the	the	DET
ajfa-3495	162	2	average	average	ADJ
ajfa-3495	162	3	proportion	proportion	NOUN
ajfa-3495	162	4	of	of	ADP
ajfa-3495	162	5	collateral	collateral	ADJ
ajfa-3495	162	6	assets	asset	NOUN
ajfa-3495	162	7	to	to	ADP
ajfa-3495	162	8	total	total	ADJ
ajfa-3495	162	9	assets	asset	NOUN
ajfa-3495	162	10	(	(	PUNCT
ajfa-3495	162	11	colltrl	colltrl	PROPN
ajfa-3495	162	12	)	)	PUNCT
ajfa-3495	162	13	is	be	AUX
ajfa-3495	162	14	45.08	45.08	NUM
ajfa-3495	162	15	%	%	NOUN
ajfa-3495	162	16	.	.	PUNCT
ajfa-3495	163	1	it	it	PRON
ajfa-3495	163	2	indicates	indicate	VERB
ajfa-3495	163	3	most	most	ADJ
ajfa-3495	163	4	asian	asian	ADJ
ajfa-3495	163	5	journal	journal	NOUN
ajfa-3495	163	6	of	of	ADP
ajfa-3495	163	7	finance	finance	PROPN
ajfa-3495	163	8	&	&	CCONJ
ajfa-3495	163	9	accounting	accounting	PROPN
ajfa-3495	163	10	issn	issn	PROPN
ajfa-3495	163	11	1946	1946	NUM
ajfa-3495	163	12	-	-	PUNCT
ajfa-3495	163	13	052x	052x	NOUN
ajfa-3495	163	14	2013	2013	NUM
ajfa-3495	163	15	,	,	PUNCT
ajfa-3495	163	16	vol	vol	NOUN
ajfa-3495	163	17	.	.	PROPN
ajfa-3495	163	18	5	5	NUM
ajfa-3495	163	19	,	,	PUNCT
ajfa-3495	163	20	no	no	INTJ
ajfa-3495	163	21	.	.	NOUN
ajfa-3495	163	22	1	1	NUM
ajfa-3495	163	23	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-3495	163	24	328	328	NUM
ajfa-3495	163	25	of	of	ADP
ajfa-3495	163	26	the	the	DET
ajfa-3495	163	27	firm	firm	NOUN
ajfa-3495	163	28	’s	’s	PART
ajfa-3495	163	29	assets	asset	NOUN
ajfa-3495	163	30	are	be	AUX
ajfa-3495	163	31	backed	back	VERB
ajfa-3495	163	32	by	by	ADP
ajfa-3495	163	33	collateral	collateral	NOUN
ajfa-3495	163	34	to	to	PART
ajfa-3495	163	35	min	min	VERB
ajfa-3495	163	36	the	the	DET
ajfa-3495	163	37	default	default	NOUN
ajfa-3495	163	38	risk	risk	NOUN
ajfa-3495	163	39	.	.	PUNCT
ajfa-3495	164	1	the	the	DET
ajfa-3495	164	2	average	average	ADJ
ajfa-3495	164	3	profitability	profitability	NOUN
ajfa-3495	164	4	of	of	ADP
ajfa-3495	164	5	bangladeshi	bangladeshi	ADJ
ajfa-3495	164	6	firms	firm	NOUN
ajfa-3495	164	7	(	(	PUNCT
ajfa-3495	164	8	prf	prf	PROPN
ajfa-3495	164	9	)	)	PUNCT
ajfa-3495	164	10	in	in	ADP
ajfa-3495	164	11	the	the	DET
ajfa-3495	164	12	sample	sample	NOUN
ajfa-3495	164	13	over	over	ADP
ajfa-3495	164	14	the	the	DET
ajfa-3495	164	15	period	period	NOUN
ajfa-3495	164	16	is	be	AUX
ajfa-3495	164	17	6.77	6.77	NUM
ajfa-3495	164	18	%	%	NOUN
ajfa-3495	164	19	per	per	ADP
ajfa-3495	164	20	annum	annum	NOUN
ajfa-3495	164	21	and	and	CCONJ
ajfa-3495	164	22	max	max	PROPN
ajfa-3495	164	23	profitability	profitability	NOUN
ajfa-3495	164	24	is	be	AUX
ajfa-3495	164	25	37.56	37.56	NUM
ajfa-3495	164	26	%	%	NOUN
ajfa-3495	164	27	to	to	PART
ajfa-3495	164	28	loss	loss	VERB
ajfa-3495	164	29	18.95	18.95	NUM
ajfa-3495	164	30	%	%	NOUN
ajfa-3495	164	31	.	.	PUNCT
ajfa-3495	165	1	the	the	DET
ajfa-3495	165	2	mean	mean	ADJ
ajfa-3495	165	3	value	value	NOUN
ajfa-3495	165	4	of	of	ADP
ajfa-3495	165	5	size	size	NOUN
ajfa-3495	165	6	measured	measure	VERB
ajfa-3495	165	7	in	in	ADP
ajfa-3495	165	8	log	log	NOUN
ajfa-3495	165	9	of	of	ADP
ajfa-3495	165	10	sales	sale	NOUN
ajfa-3495	165	11	is	be	AUX
ajfa-3495	165	12	20.44	20.44	NUM
ajfa-3495	165	13	%	%	NOUN
ajfa-3495	165	14	while	while	SCONJ
ajfa-3495	165	15	the	the	DET
ajfa-3495	165	16	standard	standard	ADJ
ajfa-3495	165	17	deviation	deviation	NOUN
ajfa-3495	165	18	is	be	AUX
ajfa-3495	165	19	3.17	3.17	NUM
ajfa-3495	165	20	.	.	PUNCT
ajfa-3495	166	1	the	the	DET
ajfa-3495	166	2	maximum	maximum	ADJ
ajfa-3495	166	3	and	and	CCONJ
ajfa-3495	166	4	minimum	minimum	ADJ
ajfa-3495	166	5	value	value	NOUN
ajfa-3495	166	6	of	of	ADP
ajfa-3495	166	7	size	size	NOUN
ajfa-3495	166	8	is	be	AUX
ajfa-3495	166	9	25.36	25.36	NUM
ajfa-3495	166	10	and	and	CCONJ
ajfa-3495	166	11	0.022	0.022	NUM
ajfa-3495	166	12	respectively	respectively	ADV
ajfa-3495	166	13	table	table	NOUN
ajfa-3495	166	14	2	2	NUM
ajfa-3495	166	15	.	.	PUNCT
ajfa-3495	166	16	explanatory	explanatory	ADJ
ajfa-3495	166	17	variables	variable	NOUN
ajfa-3495	166	18	–	–	PUNCT
ajfa-3495	166	19	summary	summary	NOUN
ajfa-3495	166	20	statistics	statistic	NOUN
ajfa-3495	166	21	this	this	DET
ajfa-3495	166	22	table	table	NOUN
ajfa-3495	166	23	provides	provide	VERB
ajfa-3495	166	24	summary	summary	NOUN
ajfa-3495	166	25	information	information	NOUN
ajfa-3495	166	26	for	for	ADP
ajfa-3495	166	27	the	the	DET
ajfa-3495	166	28	dependent	dependent	ADJ
ajfa-3495	166	29	and	and	CCONJ
ajfa-3495	166	30	independent	independent	ADJ
ajfa-3495	166	31	variables	variable	NOUN
ajfa-3495	166	32	used	use	VERB
ajfa-3495	166	33	in	in	ADP
ajfa-3495	166	34	the	the	DET
ajfa-3495	166	35	analyses	analysis	NOUN
ajfa-3495	166	36	.	.	PUNCT
ajfa-3495	167	1	it	it	PRON
ajfa-3495	167	2	provides	provide	VERB
ajfa-3495	167	3	the	the	DET
ajfa-3495	167	4	variable	variable	NOUN
ajfa-3495	167	5	’s	’s	PART
ajfa-3495	167	6	definition	definition	NOUN
ajfa-3495	167	7	,	,	PUNCT
ajfa-3495	167	8	the	the	DET
ajfa-3495	167	9	source	source	NOUN
ajfa-3495	167	10	of	of	ADP
ajfa-3495	167	11	data	datum	NOUN
ajfa-3495	167	12	for	for	ADP
ajfa-3495	167	13	the	the	DET
ajfa-3495	167	14	variable	variable	NOUN
ajfa-3495	167	15	and	and	CCONJ
ajfa-3495	167	16	the	the	DET
ajfa-3495	167	17	key	key	ADJ
ajfa-3495	167	18	summary	summary	NOUN
ajfa-3495	167	19	statistics	statistic	NOUN
ajfa-3495	167	20	.	.	PUNCT
ajfa-3495	168	1	variable	variable	ADJ
ajfa-3495	168	2	variable	variable	ADJ
ajfa-3495	168	3	description	description	NOUN
ajfa-3495	168	4	(	(	PUNCT
ajfa-3495	168	5	source	source	NOUN
ajfa-3495	168	6	)	)	PUNCT
ajfa-3495	168	7	n	n	CCONJ
ajfa-3495	168	8	mean	mean	VERB
ajfa-3495	168	9	median	median	ADJ
ajfa-3495	168	10	std	std	PROPN
ajfa-3495	168	11	.	.	PROPN
ajfa-3495	169	1	dev	dev	PROPN
ajfa-3495	169	2	.	.	PUNCT
ajfa-3495	169	3	min	min	PROPN
ajfa-3495	169	4	max	max	PROPN
ajfa-3495	169	5	leverage	leverage	PROPN
ajfa-3495	169	6	:	:	PUNCT
ajfa-3495	169	7	lev	lev	VERB
ajfa-3495	169	8	the	the	DET
ajfa-3495	169	9	sum	sum	NOUN
ajfa-3495	169	10	of	of	ADP
ajfa-3495	169	11	current	current	ADJ
ajfa-3495	169	12	liabilities	liability	NOUN
ajfa-3495	169	13	plus	plus	CCONJ
ajfa-3495	169	14	long	long	ADJ
ajfa-3495	169	15	term	term	NOUN
ajfa-3495	169	16	debt	debt	NOUN
ajfa-3495	169	17	divided	divide	VERB
ajfa-3495	169	18	by	by	ADP
ajfa-3495	169	19	the	the	DET
ajfa-3495	169	20	market	market	NOUN
ajfa-3495	169	21	value	value	NOUN
ajfa-3495	169	22	of	of	ADP
ajfa-3495	169	23	assets	asset	NOUN
ajfa-3495	169	24	.	.	PUNCT
ajfa-3495	170	1	44	44	NUM
ajfa-3495	170	2	61.56	61.56	NUM
ajfa-3495	170	3	.69	.69	NUM
ajfa-3495	170	4	47.45	47.45	NUM
ajfa-3495	170	5	.17	.17	NUM
ajfa-3495	170	6	362.41	362.41	NUM
ajfa-3495	170	7	dividend	dividend	NOUN
ajfa-3495	170	8	paid	pay	VERB
ajfa-3495	170	9	:	:	PUNCT
ajfa-3495	170	10	divdum	divdum	NOUN
ajfa-3495	170	11	1	1	NUM
ajfa-3495	170	12	,	,	PUNCT
ajfa-3495	170	13	if	if	SCONJ
ajfa-3495	170	14	a	a	DET
ajfa-3495	170	15	firm	firm	NOUN
ajfa-3495	170	16	pays	pay	VERB
ajfa-3495	170	17	more	more	ADJ
ajfa-3495	170	18	than	than	ADP
ajfa-3495	170	19	or	or	CCONJ
ajfa-3495	170	20	equal	equal	ADJ
ajfa-3495	170	21	to	to	ADP
ajfa-3495	170	22	10	10	NUM
ajfa-3495	170	23	%	%	NOUN
ajfa-3495	170	24	dividend	dividend	NOUN
ajfa-3495	170	25	and	and	CCONJ
ajfa-3495	170	26	0	0	NUM
ajfa-3495	170	27	otherwise	otherwise	ADV
ajfa-3495	170	28	.	.	PUNCT
ajfa-3495	171	1	44	44	NUM
ajfa-3495	171	2	0.66	0.66	NUM
ajfa-3495	171	3	.492	.492	NUM
ajfa-3495	171	4	.484	.484	NUM
ajfa-3495	171	5	.001	.001	NUM
ajfa-3495	171	6	1.00	1.00	NUM
ajfa-3495	171	7	liquidity	liquidity	NOUN
ajfa-3495	171	8	:	:	PUNCT
ajfa-3495	171	9	liq	liq	NOUN
ajfa-3495	171	10	current	current	ADJ
ajfa-3495	171	11	assets	asset	NOUN
ajfa-3495	171	12	divided	divide	VERB
ajfa-3495	171	13	by	by	ADP
ajfa-3495	171	14	current	current	ADJ
ajfa-3495	171	15	liabilities	liability	NOUN
ajfa-3495	171	16	44	44	NUM
ajfa-3495	171	17	2.154	2.154	NUM
ajfa-3495	171	18	1.564	1.564	NUM
ajfa-3495	171	19	13.33	13.33	NUM
ajfa-3495	171	20	.046	.046	NUM
ajfa-3495	171	21	275.10	275.10	NUM
ajfa-3495	171	22	market	market	NOUN
ajfa-3495	171	23	-	-	PUNCT
ajfa-3495	171	24	to	to	ADP
ajfa-3495	171	25	–	–	PUNCT
ajfa-3495	171	26	book	book	NOUN
ajfa-3495	171	27	ratio	ratio	NOUN
ajfa-3495	171	28	:	:	PUNCT
ajfa-3495	171	29	mb	mb	ADP
ajfa-3495	171	30	the	the	DET
ajfa-3495	171	31	market	market	NOUN
ajfa-3495	171	32	-	-	PUNCT
ajfa-3495	171	33	to	to	ADP
ajfa-3495	171	34	-	-	PUNCT
ajfa-3495	171	35	book	book	NOUN
ajfa-3495	171	36	ratio	ratio	NOUN
ajfa-3495	171	37	is	be	AUX
ajfa-3495	171	38	defined	define	VERB
ajfa-3495	171	39	as	as	ADP
ajfa-3495	171	40	the	the	DET
ajfa-3495	171	41	market	market	NOUN
ajfa-3495	171	42	value	value	NOUN
ajfa-3495	171	43	of	of	ADP
ajfa-3495	171	44	assets	asset	NOUN
ajfa-3495	171	45	divided	divide	VERB
ajfa-3495	171	46	by	by	ADP
ajfa-3495	171	47	book	book	NOUN
ajfa-3495	171	48	value	value	NOUN
ajfa-3495	171	49	of	of	ADP
ajfa-3495	171	50	assets	asset	NOUN
ajfa-3495	171	51	.	.	PUNCT
ajfa-3495	172	1	the	the	DET
ajfa-3495	172	2	market	market	NOUN
ajfa-3495	172	3	value	value	NOUN
ajfa-3495	172	4	of	of	ADP
ajfa-3495	172	5	assets	asset	NOUN
ajfa-3495	172	6	equals	equal	VERB
ajfa-3495	172	7	the	the	DET
ajfa-3495	172	8	book	book	NOUN
ajfa-3495	172	9	value	value	NOUN
ajfa-3495	172	10	of	of	ADP
ajfa-3495	172	11	assets	asset	NOUN
ajfa-3495	172	12	minus	minus	ADP
ajfa-3495	172	13	the	the	DET
ajfa-3495	172	14	book	book	NOUN
ajfa-3495	172	15	value	value	NOUN
ajfa-3495	172	16	of	of	ADP
ajfa-3495	172	17	equity	equity	NOUN
ajfa-3495	172	18	plus	plus	CCONJ
ajfa-3495	172	19	market	market	NOUN
ajfa-3495	172	20	value	value	NOUN
ajfa-3495	172	21	of	of	ADP
ajfa-3495	172	22	equity	equity	NOUN
ajfa-3495	172	23	.	.	PUNCT
ajfa-3495	173	1	44	44	NUM
ajfa-3495	173	2	26.75	26.75	NUM
ajfa-3495	173	3	19.85	19.85	NUM
ajfa-3495	173	4	13.78	13.78	NUM
ajfa-3495	173	5	1.15	1.15	NUM
ajfa-3495	173	6	115.25	115.25	NUM
ajfa-3495	173	7	collateral	collateral	NOUN
ajfa-3495	173	8	:	:	PUNCT
ajfa-3495	173	9	colltrl	colltrl	VERB
ajfa-3495	173	10	the	the	DET
ajfa-3495	173	11	sum	sum	NOUN
ajfa-3495	173	12	of	of	ADP
ajfa-3495	173	13	inventory	inventory	NOUN
ajfa-3495	173	14	plus	plus	CCONJ
ajfa-3495	173	15	property	property	NOUN
ajfa-3495	173	16	,	,	PUNCT
ajfa-3495	173	17	plant	plant	NOUN
ajfa-3495	173	18	and	and	CCONJ
ajfa-3495	173	19	equipment	equipment	NOUN
ajfa-3495	173	20	divided	divide	VERB
ajfa-3495	173	21	by	by	ADP
ajfa-3495	173	22	total	total	ADJ
ajfa-3495	173	23	assets	asset	NOUN
ajfa-3495	173	24	.	.	PUNCT
ajfa-3495	174	1	44	44	NUM
ajfa-3495	174	2	45.08	45.08	NUM
ajfa-3495	174	3	32.65	32.65	NUM
ajfa-3495	174	4	23.67	23.67	NUM
ajfa-3495	174	5	.075	.075	NUM
ajfa-3495	174	6	94.23	94.23	NUM
ajfa-3495	174	7	firm	firm	ADJ
ajfa-3495	174	8	profitability	profitability	NOUN
ajfa-3495	174	9	:	:	PUNCT
ajfa-3495	174	10	prf	prf	VERB
ajfa-3495	174	11	the	the	DET
ajfa-3495	174	12	operating	operate	VERB
ajfa-3495	174	13	income	income	NOUN
ajfa-3495	174	14	before	before	ADP
ajfa-3495	174	15	depreciation	depreciation	NOUN
ajfa-3495	174	16	divided	divide	VERB
ajfa-3495	174	17	by	by	ADP
ajfa-3495	174	18	total	total	ADJ
ajfa-3495	174	19	assets	asset	NOUN
ajfa-3495	174	20	44	44	NUM
ajfa-3495	174	21	6.77	6.77	NUM
ajfa-3495	174	22	7.32	7.32	NUM
ajfa-3495	174	23	8.65	8.65	NUM
ajfa-3495	174	24	-18.95	-18.95	SYM
ajfa-3495	174	25	37.56	37.56	NUM
ajfa-3495	174	26	firm	firm	ADJ
ajfa-3495	174	27	size	size	NOUN
ajfa-3495	174	28	:	:	PUNCT
ajfa-3495	174	29	size	size	NOUN
ajfa-3495	174	30	natural	natural	ADJ
ajfa-3495	174	31	logarithm	logarithm	NOUN
ajfa-3495	174	32	of	of	ADP
ajfa-3495	174	33	total	total	ADJ
ajfa-3495	174	34	sales	sale	NOUN
ajfa-3495	174	35	44	44	NUM
ajfa-3495	174	36	20.44	20.44	NUM
ajfa-3495	174	37	18.87	18.87	NUM
ajfa-3495	174	38	3.17	3.17	NUM
ajfa-3495	174	39	.022	.022	NUM
ajfa-3495	174	40	25.36	25.36	NUM
ajfa-3495	174	41	7.2	7.2	NUM
ajfa-3495	174	42	collinearity	collinearity	NOUN
ajfa-3495	174	43	to	to	PART
ajfa-3495	174	44	study	study	VERB
ajfa-3495	174	45	the	the	DET
ajfa-3495	174	46	existence	existence	NOUN
ajfa-3495	174	47	of	of	ADP
ajfa-3495	174	48	multicolinearity	multicolinearity	NOUN
ajfa-3495	174	49	among	among	ADP
ajfa-3495	174	50	regressors	regressor	NOUN
ajfa-3495	174	51	pearson	pearson	PROPN
ajfa-3495	174	52	correlation	correlation	NOUN
ajfa-3495	174	53	coefficients	coefficient	NOUN
ajfa-3495	174	54	is	be	AUX
ajfa-3495	174	55	used	use	VERB
ajfa-3495	174	56	.	.	PUNCT
ajfa-3495	175	1	in	in	ADP
ajfa-3495	175	2	general	general	ADJ
ajfa-3495	175	3	,	,	PUNCT
ajfa-3495	175	4	independent	independent	ADJ
ajfa-3495	175	5	variables	variable	NOUN
ajfa-3495	175	6	having	have	VERB
ajfa-3495	175	7	collinearity	collinearity	NOUN
ajfa-3495	175	8	at	at	ADP
ajfa-3495	175	9	0.7	0.7	NUM
ajfa-3495	175	10	or	or	CCONJ
ajfa-3495	175	11	greater	great	ADJ
ajfa-3495	175	12	would	would	AUX
ajfa-3495	175	13	not	not	PART
ajfa-3495	175	14	include	include	VERB
ajfa-3495	175	15	in	in	ADP
ajfa-3495	175	16	regression	regression	NOUN
ajfa-3495	175	17	analysis	analysis	NOUN
ajfa-3495	175	18	due	due	ADP
ajfa-3495	175	19	to	to	ADP
ajfa-3495	175	20	multicollinearity	multicollinearity	NOUN
ajfa-3495	175	21	.	.	PUNCT
ajfa-3495	176	1	as	as	SCONJ
ajfa-3495	176	2	shown	show	VERB
ajfa-3495	176	3	in	in	ADP
ajfa-3495	176	4	table	table	NOUN
ajfa-3495	176	5	3	3	NUM
ajfa-3495	176	6	the	the	DET
ajfa-3495	176	7	highest	high	ADJ
ajfa-3495	176	8	correlation	correlation	NOUN
ajfa-3495	176	9	coefficient	coefficient	NOUN
ajfa-3495	176	10	is	be	AUX
ajfa-3495	176	11	0.516	0.516	NUM
ajfa-3495	176	12	between	between	ADP
ajfa-3495	176	13	profitability	profitability	NOUN
ajfa-3495	176	14	and	and	CCONJ
ajfa-3495	176	15	dividend	dividend	NOUN
ajfa-3495	176	16	payment	payment	NOUN
ajfa-3495	176	17	.	.	PUNCT
ajfa-3495	177	1	thus	thus	ADV
ajfa-3495	177	2	all	all	PRON
ajfa-3495	177	3	of	of	ADP
ajfa-3495	177	4	the	the	DET
ajfa-3495	177	5	independent	independent	ADJ
ajfa-3495	177	6	variables	variable	NOUN
ajfa-3495	177	7	are	be	AUX
ajfa-3495	177	8	free	free	ADJ
ajfa-3495	177	9	from	from	ADP
ajfa-3495	177	10	serious	serious	ADJ
ajfa-3495	177	11	problems	problem	NOUN
ajfa-3495	177	12	of	of	ADP
ajfa-3495	177	13	multicollinearity	multicollinearity	NOUN
ajfa-3495	177	14	and	and	CCONJ
ajfa-3495	177	15	more	more	ADV
ajfa-3495	177	16	competent	competent	ADJ
ajfa-3495	177	17	for	for	ADP
ajfa-3495	177	18	regression	regression	NOUN
ajfa-3495	177	19	analysis	analysis	NOUN
ajfa-3495	177	20	.	.	PUNCT
ajfa-3495	178	1	asian	asian	ADJ
ajfa-3495	178	2	journal	journal	PROPN
ajfa-3495	178	3	of	of	ADP
ajfa-3495	178	4	finance	finance	PROPN
ajfa-3495	178	5	&	&	CCONJ
ajfa-3495	178	6	accounting	accounting	PROPN
ajfa-3495	178	7	issn	issn	PROPN
ajfa-3495	178	8	1946	1946	NUM
ajfa-3495	178	9	-	-	PUNCT
ajfa-3495	178	10	052x	052x	NOUN
ajfa-3495	178	11	2013	2013	NUM
ajfa-3495	178	12	,	,	PUNCT
ajfa-3495	178	13	vol	vol	NOUN
ajfa-3495	178	14	.	.	PROPN
ajfa-3495	178	15	5	5	NUM
ajfa-3495	178	16	,	,	PUNCT
ajfa-3495	178	17	no	no	INTJ
ajfa-3495	178	18	.	.	NOUN
ajfa-3495	178	19	1	1	NUM
ajfa-3495	178	20	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-3495	178	21	329	329	NUM
ajfa-3495	178	22	table	table	NOUN
ajfa-3495	178	23	3	3	NUM
ajfa-3495	178	24	.	.	PUNCT
ajfa-3495	178	25	pearson	pearson	PROPN
ajfa-3495	178	26	correlation	correlation	NOUN
ajfa-3495	178	27	coefficients	coefficient	NOUN
ajfa-3495	178	28	variables	variable	VERB
ajfa-3495	178	29	liq	liq	NOUN
ajfa-3495	178	30	mb	mb	NOUN
ajfa-3495	178	31	divdum	divdum	NOUN
ajfa-3495	178	32	colltrl	colltrl	PROPN
ajfa-3495	178	33	prf	prf	PROPN
ajfa-3495	178	34	size	size	NOUN
ajfa-3495	178	35	liq	liq	NOUN
ajfa-3495	178	36	1.00	1.00	NUM
ajfa-3495	178	37	.316	.316	NUM
ajfa-3495	178	38	.015	.015	NUM
ajfa-3495	178	39	.478	.478	NUM
ajfa-3495	178	40	.324	.324	NUM
ajfa-3495	178	41	.132	.132	NUM
ajfa-3495	178	42	mb	mb	ADP
ajfa-3495	178	43	.316	.316	NUM
ajfa-3495	178	44	1.00	1.00	NUM
ajfa-3495	178	45	.439	.439	NUM
ajfa-3495	179	1	-.123	-.123	NOUN
ajfa-3495	179	2	.398	.398	NUM
ajfa-3495	179	3	.217	.217	NUM
ajfa-3495	179	4	divdum	divdum	NOUN
ajfa-3495	179	5	.015	.015	NUM
ajfa-3495	179	6	.439	.439	NUM
ajfa-3495	179	7	1.00	1.00	NUM
ajfa-3495	179	8	.088	.088	NUM
ajfa-3495	179	9	.516	.516	NUM
ajfa-3495	179	10	.234	.234	NUM
ajfa-3495	179	11	colltrl	colltrl	PROPN
ajfa-3495	179	12	.478	.478	NUM
ajfa-3495	179	13	-.123	-.123	NOUN
ajfa-3495	179	14	.112	.112	NUM
ajfa-3495	179	15	1.00	1.00	NUM
ajfa-3495	179	16	.391	.391	NUM
ajfa-3495	179	17	.112	.112	NUM
ajfa-3495	180	1	prf	prf	PROPN
ajfa-3495	180	2	.324	.324	NUM
ajfa-3495	180	3	.398	.398	NUM
ajfa-3495	180	4	.516	.516	NUM
ajfa-3495	180	5	.391	.391	NUM
ajfa-3495	180	6	1.00	1.00	NUM
ajfa-3495	180	7	.453	.453	NUM
ajfa-3495	180	8	size	size	NOUN
ajfa-3495	180	9	.132	.132	NUM
ajfa-3495	180	10	.217	.217	NUM
ajfa-3495	180	11	.234	.234	NUM
ajfa-3495	180	12	.112	.112	NUM
ajfa-3495	180	13	.453	.453	NUM
ajfa-3495	180	14	1.00	1.00	NUM
ajfa-3495	180	15	*	*	PUNCT
ajfa-3495	180	16	summary	summary	NOUN
ajfa-3495	180	17	of	of	ADP
ajfa-3495	180	18	pearson	pearson	PROPN
ajfa-3495	180	19	correlation	correlation	NOUN
ajfa-3495	180	20	coefficients	coefficient	NOUN
ajfa-3495	180	21	between	between	ADP
ajfa-3495	180	22	variables	variable	NOUN
ajfa-3495	180	23	.	.	PUNCT
ajfa-3495	181	1	7.3	7.3	NUM
ajfa-3495	181	2	regression	regression	NOUN
ajfa-3495	181	3	model	model	NOUN
ajfa-3495	181	4	results	result	NOUN
ajfa-3495	181	5	of	of	ADP
ajfa-3495	181	6	regression	regression	NOUN
ajfa-3495	181	7	analysis	analysis	NOUN
ajfa-3495	181	8	table	table	NOUN
ajfa-3495	181	9	4	4	NUM
ajfa-3495	181	10	shows	show	VERB
ajfa-3495	181	11	the	the	DET
ajfa-3495	181	12	results	result	NOUN
ajfa-3495	181	13	of	of	ADP
ajfa-3495	181	14	pooled	pool	VERB
ajfa-3495	181	15	regression	regression	NOUN
ajfa-3495	181	16	analysis	analysis	NOUN
ajfa-3495	181	17	,	,	PUNCT
ajfa-3495	181	18	in	in	ADP
ajfa-3495	181	19	which	which	PRON
ajfa-3495	181	20	fixed	fix	VERB
ajfa-3495	181	21	effect	effect	NOUN
ajfa-3495	181	22	model	model	NOUN
ajfa-3495	181	23	is	be	AUX
ajfa-3495	181	24	applied	apply	VERB
ajfa-3495	181	25	.	.	PUNCT
ajfa-3495	182	1	in	in	ADP
ajfa-3495	182	2	our	our	PRON
ajfa-3495	182	3	regression	regression	NOUN
ajfa-3495	182	4	model	model	NOUN
ajfa-3495	182	5	for	for	ADP
ajfa-3495	182	6	leverage	leverage	NOUN
ajfa-3495	182	7	has	have	VERB
ajfa-3495	182	8	an	an	DET
ajfa-3495	182	9	r	r	NOUN
ajfa-3495	182	10	-	-	PUNCT
ajfa-3495	182	11	squared	squared	ADJ
ajfa-3495	182	12	(	(	PUNCT
ajfa-3495	182	13	coefficient	coefficient	NOUN
ajfa-3495	182	14	of	of	ADP
ajfa-3495	182	15	determination	determination	NOUN
ajfa-3495	182	16	)	)	PUNCT
ajfa-3495	182	17	of	of	ADP
ajfa-3495	182	18	0.556.it	0.556.it	PROPN
ajfa-3495	182	19	informs	inform	VERB
ajfa-3495	182	20	that	that	SCONJ
ajfa-3495	182	21	the	the	DET
ajfa-3495	182	22	fraction	fraction	NOUN
ajfa-3495	182	23	of	of	ADP
ajfa-3495	182	24	variation	variation	NOUN
ajfa-3495	182	25	in	in	ADP
ajfa-3495	182	26	the	the	DET
ajfa-3495	182	27	dependent	dependent	ADJ
ajfa-3495	182	28	variable	variable	NOUN
ajfa-3495	182	29	that	that	PRON
ajfa-3495	182	30	is	be	AUX
ajfa-3495	182	31	explained	explain	VERB
ajfa-3495	182	32	by	by	ADP
ajfa-3495	182	33	variation	variation	NOUN
ajfa-3495	182	34	in	in	ADP
ajfa-3495	182	35	the	the	DET
ajfa-3495	182	36	independent	independent	ADJ
ajfa-3495	182	37	variables	variable	NOUN
ajfa-3495	182	38	more	more	ADV
ajfa-3495	182	39	precisely	precisely	ADV
ajfa-3495	182	40	it	it	PRON
ajfa-3495	182	41	shows	show	VERB
ajfa-3495	182	42	how	how	SCONJ
ajfa-3495	182	43	well	well	ADV
ajfa-3495	182	44	the	the	DET
ajfa-3495	182	45	sample	sample	NOUN
ajfa-3495	182	46	regression	regression	NOUN
ajfa-3495	182	47	line	line	NOUN
ajfa-3495	182	48	fits	fit	VERB
ajfa-3495	182	49	the	the	DET
ajfa-3495	182	50	data	datum	NOUN
ajfa-3495	182	51	(	(	PUNCT
ajfa-3495	182	52	goodness	goodness	NOUN
ajfa-3495	182	53	of	of	ADP
ajfa-3495	182	54	fit	fit	NOUN
ajfa-3495	182	55	)	)	PUNCT
ajfa-3495	182	56	.	.	PUNCT
ajfa-3495	183	1	thus	thus	ADV
ajfa-3495	183	2	,	,	PUNCT
ajfa-3495	183	3	55.6	55.6	NUM
ajfa-3495	183	4	%	%	NOUN
ajfa-3495	183	5	of	of	ADP
ajfa-3495	183	6	the	the	DET
ajfa-3495	183	7	variation	variation	NOUN
ajfa-3495	183	8	in	in	ADP
ajfa-3495	183	9	leverage	leverage	NOUN
ajfa-3495	183	10	(	(	PUNCT
ajfa-3495	183	11	total	total	ADJ
ajfa-3495	183	12	debt	debt	NOUN
ajfa-3495	183	13	/	/	SYM
ajfa-3495	183	14	total	total	ADJ
ajfa-3495	183	15	assets	asset	NOUN
ajfa-3495	183	16	)	)	PUNCT
ajfa-3495	183	17	is	be	AUX
ajfa-3495	183	18	accounted	account	VERB
ajfa-3495	183	19	for	for	ADP
ajfa-3495	183	20	by	by	ADP
ajfa-3495	183	21	variation	variation	NOUN
ajfa-3495	183	22	in	in	ADP
ajfa-3495	183	23	the	the	DET
ajfa-3495	183	24	independent	independent	ADJ
ajfa-3495	183	25	variables	variable	NOUN
ajfa-3495	183	26	.	.	PUNCT
ajfa-3495	184	1	the	the	DET
ajfa-3495	184	2	value	value	NOUN
ajfa-3495	184	3	of	of	ADP
ajfa-3495	184	4	adjusted	adjust	VERB
ajfa-3495	184	5	r	r	NOUN
ajfa-3495	184	6	-	-	PUNCT
ajfa-3495	184	7	squared	square	VERB
ajfa-3495	184	8	is	be	AUX
ajfa-3495	184	9	0.513	0.513	NUM
ajfa-3495	184	10	.	.	PUNCT
ajfa-3495	185	1	f	f	X
ajfa-3495	185	2	-	-	PUNCT
ajfa-3495	185	3	statistic	statistic	NOUN
ajfa-3495	185	4	,	,	PUNCT
ajfa-3495	185	5	11.331	11.331	NUM
ajfa-3495	185	6	,	,	PUNCT
ajfa-3495	185	7	shows	show	VERB
ajfa-3495	185	8	that	that	SCONJ
ajfa-3495	185	9	overall	overall	ADJ
ajfa-3495	185	10	model	model	NOUN
ajfa-3495	185	11	is	be	AUX
ajfa-3495	185	12	satisfied	satisfied	ADJ
ajfa-3495	185	13	at	at	ADP
ajfa-3495	185	14	the	the	DET
ajfa-3495	185	15	1	1	NUM
ajfa-3495	185	16	%	%	NOUN
ajfa-3495	185	17	level	level	NOUN
ajfa-3495	185	18	and	and	CCONJ
ajfa-3495	185	19	the	the	DET
ajfa-3495	185	20	value	value	NOUN
ajfa-3495	185	21	of	of	ADP
ajfa-3495	185	22	durbinwatson	durbinwatson	PROPN
ajfa-3495	185	23	,	,	PUNCT
ajfa-3495	185	24	1.37	1.37	NUM
ajfa-3495	185	25	,	,	PUNCT
ajfa-3495	185	26	signals	signal	VERB
ajfa-3495	185	27	that	that	SCONJ
ajfa-3495	185	28	the	the	DET
ajfa-3495	185	29	model	model	NOUN
ajfa-3495	185	30	is	be	AUX
ajfa-3495	185	31	fit	fit	ADJ
ajfa-3495	185	32	for	for	ADP
ajfa-3495	185	33	regression	regression	NOUN
ajfa-3495	185	34	without	without	ADP
ajfa-3495	185	35	estimating	estimate	VERB
ajfa-3495	185	36	any	any	DET
ajfa-3495	185	37	significant	significant	ADJ
ajfa-3495	185	38	autocorrelation	autocorrelation	NOUN
ajfa-3495	185	39	.	.	PUNCT
ajfa-3495	186	1	the	the	DET
ajfa-3495	186	2	existence	existence	NOUN
ajfa-3495	186	3	of	of	ADP
ajfa-3495	186	4	autocorrelation	autocorrelation	NOUN
ajfa-3495	186	5	does	do	AUX
ajfa-3495	186	6	not	not	PART
ajfa-3495	186	7	bias	bias	VERB
ajfa-3495	186	8	the	the	DET
ajfa-3495	186	9	estimated	estimated	ADJ
ajfa-3495	186	10	coefficient	coefficient	NOUN
ajfa-3495	186	11	,	,	PUNCT
ajfa-3495	186	12	but	but	CCONJ
ajfa-3495	186	13	it	it	PRON
ajfa-3495	186	14	makes	make	VERB
ajfa-3495	186	15	the	the	DET
ajfa-3495	186	16	estimates	estimate	NOUN
ajfa-3495	186	17	of	of	ADP
ajfa-3495	186	18	the	the	DET
ajfa-3495	186	19	standard	standard	ADJ
ajfa-3495	186	20	errors	error	NOUN
ajfa-3495	186	21	smaller	small	ADJ
ajfa-3495	186	22	than	than	ADP
ajfa-3495	186	23	the	the	DET
ajfa-3495	186	24	true	true	ADJ
ajfa-3495	186	25	standard	standard	ADJ
ajfa-3495	186	26	errors	error	NOUN
ajfa-3495	186	27	.	.	PUNCT
ajfa-3495	187	1	as	as	SCONJ
ajfa-3495	187	2	,	,	PUNCT
ajfa-3495	187	3	these	these	DET
ajfa-3495	187	4	findings	finding	NOUN
ajfa-3495	187	5	are	be	AUX
ajfa-3495	187	6	observed	observe	VERB
ajfa-3495	187	7	from	from	ADP
ajfa-3495	187	8	table	table	NOUN
ajfa-3495	187	9	4	4	NUM
ajfa-3495	187	10	,	,	PUNCT
ajfa-3495	187	11	the	the	DET
ajfa-3495	187	12	first	first	ADJ
ajfa-3495	187	13	hypothesis	hypothesis	NOUN
ajfa-3495	187	14	of	of	ADP
ajfa-3495	187	15	this	this	DET
ajfa-3495	187	16	study	study	NOUN
ajfa-3495	187	17	is	be	AUX
ajfa-3495	187	18	liquidity	liquidity	NOUN
ajfa-3495	187	19	and	and	CCONJ
ajfa-3495	187	20	beta	beta	ADJ
ajfa-3495	187	21	coefficient	coefficient	NOUN
ajfa-3495	187	22	is	be	AUX
ajfa-3495	187	23	-5.887	-5.887	PUNCT
ajfa-3495	187	24	,	,	PUNCT
ajfa-3495	187	25	rejecting	reject	VERB
ajfa-3495	187	26	the	the	DET
ajfa-3495	187	27	null	null	ADJ
ajfa-3495	187	28	hypothesis	hypothesis	NOUN
ajfa-3495	187	29	,	,	PUNCT
ajfa-3495	187	30	it	it	PRON
ajfa-3495	187	31	suggests	suggest	VERB
ajfa-3495	187	32	that	that	SCONJ
ajfa-3495	187	33	liquidity	liquidity	NOUN
ajfa-3495	187	34	has	have	VERB
ajfa-3495	187	35	strong	strong	ADJ
ajfa-3495	187	36	negative	negative	ADJ
ajfa-3495	187	37	impact	impact	NOUN
ajfa-3495	187	38	on	on	ADP
ajfa-3495	187	39	leverage	leverage	NOUN
ajfa-3495	187	40	for	for	ADP
ajfa-3495	187	41	dse	dse	PROPN
ajfa-3495	187	42	listed	list	VERB
ajfa-3495	187	43	firms	firm	NOUN
ajfa-3495	187	44	.	.	PUNCT
ajfa-3495	188	1	beta	beta	ADJ
ajfa-3495	188	2	coefficient	coefficient	NOUN
ajfa-3495	188	3	of	of	ADP
ajfa-3495	188	4	market	market	NOUN
ajfa-3495	188	5	to	to	ADP
ajfa-3495	188	6	book	book	NOUN
ajfa-3495	188	7	value	value	NOUN
ajfa-3495	188	8	ratio	ratio	NOUN
ajfa-3495	188	9	is	be	AUX
ajfa-3495	188	10	0.623	0.623	NUM
ajfa-3495	188	11	and	and	CCONJ
ajfa-3495	188	12	rejects	reject	VERB
ajfa-3495	188	13	the	the	DET
ajfa-3495	188	14	second	second	ADJ
ajfa-3495	188	15	hypothesis	hypothesis	NOUN
ajfa-3495	188	16	at	at	ADP
ajfa-3495	188	17	10	10	NUM
ajfa-3495	188	18	%	%	NOUN
ajfa-3495	188	19	significant	significant	ADJ
ajfa-3495	188	20	level	level	NOUN
ajfa-3495	188	21	.	.	PUNCT
ajfa-3495	189	1	the	the	DET
ajfa-3495	189	2	negative	negative	ADJ
ajfa-3495	189	3	coefficient	coefficient	NOUN
ajfa-3495	189	4	value	value	NOUN
ajfa-3495	189	5	of	of	ADP
ajfa-3495	189	6	collateral	collateral	NOUN
ajfa-3495	189	7	rejects	reject	VERB
ajfa-3495	189	8	the	the	DET
ajfa-3495	189	9	third	third	ADJ
ajfa-3495	189	10	hypothesis	hypothesis	NOUN
ajfa-3495	189	11	at	at	ADP
ajfa-3495	189	12	1	1	NUM
ajfa-3495	189	13	%	%	NOUN
ajfa-3495	189	14	significant	significant	ADJ
ajfa-3495	189	15	level	level	NOUN
ajfa-3495	189	16	.	.	PUNCT
ajfa-3495	190	1	dividend	dividend	NOUN
ajfa-3495	190	2	payment	payment	NOUN
ajfa-3495	190	3	the	the	DET
ajfa-3495	190	4	fourth	fourth	ADJ
ajfa-3495	190	5	hypothesis	hypothesis	NOUN
ajfa-3495	190	6	of	of	ADP
ajfa-3495	190	7	this	this	DET
ajfa-3495	190	8	study	study	NOUN
ajfa-3495	190	9	is	be	AUX
ajfa-3495	190	10	accepted	accept	VERB
ajfa-3495	190	11	with	with	ADP
ajfa-3495	190	12	beta	beta	ADJ
ajfa-3495	190	13	coefficient	coefficient	NOUN
ajfa-3495	190	14	of	of	ADP
ajfa-3495	190	15	-8.65	-8.65	NUM
ajfa-3495	190	16	that	that	PRON
ajfa-3495	190	17	mean	mean	VERB
ajfa-3495	190	18	dividend	dividend	NOUN
ajfa-3495	190	19	payment	payment	NOUN
ajfa-3495	190	20	has	have	VERB
ajfa-3495	190	21	no	no	DET
ajfa-3495	190	22	significant	significant	ADJ
ajfa-3495	190	23	impact	impact	NOUN
ajfa-3495	190	24	on	on	ADP
ajfa-3495	190	25	leverage	leverage	NOUN
ajfa-3495	190	26	of	of	ADP
ajfa-3495	190	27	bangladeshi	bangladeshi	ADJ
ajfa-3495	190	28	firms	firm	NOUN
ajfa-3495	190	29	listed	list	VERB
ajfa-3495	190	30	on	on	ADP
ajfa-3495	190	31	dse	dse	PROPN
ajfa-3495	190	32	.	.	PUNCT
ajfa-3495	191	1	the	the	DET
ajfa-3495	191	2	coefficient	coefficient	NOUN
ajfa-3495	191	3	value	value	NOUN
ajfa-3495	191	4	of	of	ADP
ajfa-3495	191	5	profitability	profitability	NOUN
ajfa-3495	191	6	is	be	AUX
ajfa-3495	191	7	-1.83	-1.83	ADJ
ajfa-3495	191	8	,	,	PUNCT
ajfa-3495	191	9	which	which	PRON
ajfa-3495	191	10	is	be	AUX
ajfa-3495	191	11	significant	significant	ADJ
ajfa-3495	191	12	at	at	ADP
ajfa-3495	191	13	1	1	NUM
ajfa-3495	191	14	%	%	NOUN
ajfa-3495	191	15	level	level	NOUN
ajfa-3495	191	16	.	.	PUNCT
ajfa-3495	192	1	so	so	ADV
ajfa-3495	192	2	,	,	PUNCT
ajfa-3495	192	3	fifth	fifth	ADJ
ajfa-3495	192	4	null	null	ADJ
ajfa-3495	192	5	hypothesis	hypothesis	NOUN
ajfa-3495	192	6	has	have	VERB
ajfa-3495	192	7	no	no	DET
ajfa-3495	192	8	significant	significant	ADJ
ajfa-3495	192	9	impact	impact	NOUN
ajfa-3495	192	10	on	on	ADP
ajfa-3495	192	11	leverage	leverage	NOUN
ajfa-3495	192	12	,	,	PUNCT
ajfa-3495	192	13	is	be	AUX
ajfa-3495	192	14	rejected	reject	VERB
ajfa-3495	192	15	.	.	PUNCT
ajfa-3495	193	1	the	the	DET
ajfa-3495	193	2	last	last	ADJ
ajfa-3495	193	3	or	or	CCONJ
ajfa-3495	193	4	sixth	sixth	ADJ
ajfa-3495	193	5	hypothesis	hypothesis	NOUN
ajfa-3495	193	6	of	of	ADP
ajfa-3495	193	7	this	this	DET
ajfa-3495	193	8	study	study	NOUN
ajfa-3495	193	9	is	be	AUX
ajfa-3495	193	10	firm	firm	ADJ
ajfa-3495	193	11	size	size	NOUN
ajfa-3495	193	12	,	,	PUNCT
ajfa-3495	193	13	which	which	PRON
ajfa-3495	193	14	beta	beta	NOUN
ajfa-3495	193	15	coefficient	coefficient	NOUN
ajfa-3495	193	16	is	be	AUX
ajfa-3495	193	17	0.275	0.275	NUM
ajfa-3495	193	18	and	and	CCONJ
ajfa-3495	193	19	its	its	PRON
ajfa-3495	193	20	not	not	PART
ajfa-3495	193	21	significant	significant	ADJ
ajfa-3495	193	22	even	even	ADV
ajfa-3495	193	23	at	at	ADP
ajfa-3495	193	24	10	10	NUM
ajfa-3495	193	25	%	%	NOUN
ajfa-3495	193	26	level	level	NOUN
ajfa-3495	193	27	,	,	PUNCT
ajfa-3495	193	28	thus	thus	ADV
ajfa-3495	193	29	this	this	DET
ajfa-3495	193	30	hypothesis	hypothesis	NOUN
ajfa-3495	193	31	is	be	AUX
ajfa-3495	193	32	accepted	accept	VERB
ajfa-3495	193	33	.	.	PUNCT
ajfa-3495	194	1	asian	asian	ADJ
ajfa-3495	194	2	journal	journal	PROPN
ajfa-3495	194	3	of	of	ADP
ajfa-3495	194	4	finance	finance	PROPN
ajfa-3495	194	5	&	&	CCONJ
ajfa-3495	194	6	accounting	accounting	PROPN
ajfa-3495	194	7	issn	issn	PROPN
ajfa-3495	194	8	1946	1946	NUM
ajfa-3495	194	9	-	-	PUNCT
ajfa-3495	194	10	052x	052x	NOUN
ajfa-3495	194	11	2013	2013	NUM
ajfa-3495	194	12	,	,	PUNCT
ajfa-3495	194	13	vol	vol	NOUN
ajfa-3495	194	14	.	.	PROPN
ajfa-3495	194	15	5	5	NUM
ajfa-3495	194	16	,	,	PUNCT
ajfa-3495	194	17	no	no	INTJ
ajfa-3495	194	18	.	.	NOUN
ajfa-3495	194	19	1	1	NUM
ajfa-3495	194	20	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-3495	194	21	330	330	NUM
ajfa-3495	194	22	table	table	NOUN
ajfa-3495	194	23	4	4	NUM
ajfa-3495	194	24	.	.	PUNCT
ajfa-3495	195	1	regression	regression	NOUN
ajfa-3495	195	2	model	model	NOUN
ajfa-3495	195	3	results	result	NOUN
ajfa-3495	195	4	variables	variable	VERB
ajfa-3495	195	5	beta	beta	ADJ
ajfa-3495	195	6	coefficients	coefficient	NOUN
ajfa-3495	195	7	standard	standard	ADJ
ajfa-3495	195	8	error	error	NOUN
ajfa-3495	195	9	t	t	NOUN
ajfa-3495	195	10	-	-	PUNCT
ajfa-3495	195	11	value	value	NOUN
ajfa-3495	195	12	sig	sig	NOUN
ajfa-3495	195	13	.	.	PUNCT
ajfa-3495	196	1	constant	constant	ADJ
ajfa-3495	196	2	87.572	87.572	NUM
ajfa-3495	196	3	23.674	23.674	NUM
ajfa-3495	196	4	2.568	2.568	NUM
ajfa-3495	196	5	.025	.025	NUM
ajfa-3495	196	6	liq	liq	NOUN
ajfa-3495	196	7	-5.877	-5.877	NUM
ajfa-3495	196	8	1.053	1.053	NUM
ajfa-3495	196	9	-4.345	-4.345	NUM
ajfa-3495	196	10	*	*	NOUN
ajfa-3495	196	11	.000	.000	NUM
ajfa-3495	196	12	mb	mb	ADP
ajfa-3495	196	13	.623	.623	NUM
ajfa-3495	196	14	.317	.317	NUM
ajfa-3495	196	15	1.785	1.785	NUM
ajfa-3495	196	16	*	*	PUNCT
ajfa-3495	196	17	*	*	PUNCT
ajfa-3495	196	18	*	*	X
ajfa-3495	196	19	.012	.012	NUM
ajfa-3495	196	20	divdum	divdum	NOUN
ajfa-3495	196	21	-8.65	-8.65	CCONJ
ajfa-3495	196	22	7.138	7.138	NUM
ajfa-3495	196	23	-1.592	-1.592	SYM
ajfa-3495	196	24	.089	.089	NOUN
ajfa-3495	196	25	colltrl	colltrl	PROPN
ajfa-3495	196	26	-.368	-.368	PROPN
ajfa-3495	196	27	.156	.156	PROPN
ajfa-3495	196	28	-2.785	-2.785	X
ajfa-3495	196	29	*	*	NOUN
ajfa-3495	196	30	.014	.014	PROPN
ajfa-3495	196	31	prf	prf	PROPN
ajfa-3495	196	32	-1.83	-1.83	VERB
ajfa-3495	196	33	.34	.34	NUM
ajfa-3495	196	34	-4.271	-4.271	PROPN
ajfa-3495	196	35	*	*	SYM
ajfa-3495	196	36	.23	.23	NUM
ajfa-3495	196	37	size	size	NOUN
ajfa-3495	196	38	.275	.275	NUM
ajfa-3495	196	39	1.712	1.712	NUM
ajfa-3495	196	40	.579	.579	NUM
ajfa-3495	196	41	.650	.650	NUM
ajfa-3495	196	42	td	td	NOUN
ajfa-3495	196	43	/	/	SYM
ajfa-3495	196	44	ta=	ta=	NOUN
ajfa-3495	196	45	total	total	NOUN
ajfa-3495	196	46	debt/	debt/	NUM
ajfa-3495	196	47	total	total	ADJ
ajfa-3495	196	48	assets	asset	NOUN
ajfa-3495	196	49	*	*	PUNCT
ajfa-3495	196	50	significant	significant	ADJ
ajfa-3495	196	51	at	at	ADP
ajfa-3495	196	52	1	1	NUM
ajfa-3495	196	53	%	%	NOUN
ajfa-3495	196	54	level	level	NOUN
ajfa-3495	196	55	*	*	PUNCT
ajfa-3495	196	56	*	*	NOUN
ajfa-3495	196	57	significant	significant	ADJ
ajfa-3495	196	58	at	at	ADP
ajfa-3495	196	59	5	5	NUM
ajfa-3495	196	60	%	%	NOUN
ajfa-3495	196	61	level	level	NOUN
ajfa-3495	196	62	*	*	PUNCT
ajfa-3495	196	63	*	*	PUNCT
ajfa-3495	196	64	*	*	PUNCT
ajfa-3495	196	65	significant	significant	ADJ
ajfa-3495	196	66	at	at	ADP
ajfa-3495	196	67	10	10	NUM
ajfa-3495	196	68	%	%	NOUN
ajfa-3495	196	69	level	level	NOUN
ajfa-3495	196	70	model	model	NOUN
ajfa-3495	196	71	summary	summary	NOUN
ajfa-3495	196	72	r	r	NOUN
ajfa-3495	196	73	-	-	PUNCT
ajfa-3495	196	74	squared	square	VERB
ajfa-3495	196	75	.675	.675	NUM
ajfa-3495	196	76	adjusted	adjust	VERB
ajfa-3495	196	77	r	r	NOUN
ajfa-3495	196	78	-	-	PUNCT
ajfa-3495	196	79	squared	square	VERB
ajfa-3495	196	80	.641	.641	NUM
ajfa-3495	196	81	durbin	durbin	NOUN
ajfa-3495	196	82	-	-	PUNCT
ajfa-3495	196	83	watson	watson	NOUN
ajfa-3495	196	84	1.37	1.37	NUM
ajfa-3495	196	85	f	f	NOUN
ajfa-3495	196	86	-	-	PUNCT
ajfa-3495	196	87	statistic	statistic	NOUN
ajfa-3495	196	88	27.76	27.76	NUM
ajfa-3495	196	89	sig	sig	NOUN
ajfa-3495	196	90	.	.	PUNCT
ajfa-3495	196	91	.000	.000	NUM
ajfa-3495	196	92	8	8	NUM
ajfa-3495	196	93	.	.	PUNCT
ajfa-3495	197	1	summary	summary	NOUN
ajfa-3495	197	2	this	this	DET
ajfa-3495	197	3	study	study	NOUN
ajfa-3495	197	4	attempts	attempt	VERB
ajfa-3495	197	5	to	to	PART
ajfa-3495	197	6	investigate	investigate	VERB
ajfa-3495	197	7	how	how	SCONJ
ajfa-3495	197	8	firm	firm	ADJ
ajfa-3495	197	9	specific	specific	ADJ
ajfa-3495	197	10	factors	factor	NOUN
ajfa-3495	197	11	are	be	AUX
ajfa-3495	197	12	impacting	impact	VERB
ajfa-3495	197	13	the	the	DET
ajfa-3495	197	14	capital	capital	NOUN
ajfa-3495	197	15	structure	structure	NOUN
ajfa-3495	197	16	decision	decision	NOUN
ajfa-3495	197	17	of	of	ADP
ajfa-3495	197	18	a	a	DET
ajfa-3495	197	19	sample	sample	NOUN
ajfa-3495	197	20	of	of	ADP
ajfa-3495	197	21	44	44	NUM
ajfa-3495	197	22	bangladeshi	bangladeshi	ADJ
ajfa-3495	197	23	firms	firm	NOUN
ajfa-3495	197	24	listed	list	VERB
ajfa-3495	197	25	in	in	ADP
ajfa-3495	197	26	dse	dse	PROPN
ajfa-3495	197	27	utilizing	utilize	VERB
ajfa-3495	197	28	ols	ol	NOUN
ajfa-3495	197	29	regression	regression	NOUN
ajfa-3495	197	30	method	method	NOUN
ajfa-3495	197	31	.	.	PUNCT
ajfa-3495	198	1	data	datum	NOUN
ajfa-3495	198	2	were	be	AUX
ajfa-3495	198	3	collected	collect	VERB
ajfa-3495	198	4	from	from	ADP
ajfa-3495	198	5	the	the	DET
ajfa-3495	198	6	financial	financial	ADJ
ajfa-3495	198	7	statements	statement	NOUN
ajfa-3495	198	8	of	of	ADP
ajfa-3495	198	9	each	each	DET
ajfa-3495	198	10	firm	firm	NOUN
ajfa-3495	198	11	during	during	ADP
ajfa-3495	198	12	the	the	DET
ajfa-3495	198	13	eight	eight	NUM
ajfa-3495	198	14	-	-	PUNCT
ajfa-3495	198	15	year	year	NOUN
ajfa-3495	198	16	period	period	NOUN
ajfa-3495	198	17	from	from	ADP
ajfa-3495	198	18	2004	2004	NUM
ajfa-3495	198	19	to	to	ADP
ajfa-3495	198	20	2011	2011	NUM
ajfa-3495	198	21	.	.	PUNCT
ajfa-3495	199	1	under	under	ADP
ajfa-3495	199	2	ols	ol	NOUN
ajfa-3495	199	3	regression	regression	NOUN
ajfa-3495	199	4	,	,	PUNCT
ajfa-3495	199	5	fixed	fix	VERB
ajfa-3495	199	6	effect	effect	NOUN
ajfa-3495	199	7	model	model	NOUN
ajfa-3495	199	8	was	be	AUX
ajfa-3495	199	9	run	run	VERB
ajfa-3495	199	10	and	and	CCONJ
ajfa-3495	199	11	the	the	DET
ajfa-3495	199	12	findings	finding	NOUN
ajfa-3495	199	13	of	of	ADP
ajfa-3495	199	14	the	the	DET
ajfa-3495	199	15	study	study	NOUN
ajfa-3495	199	16	show	show	VERB
ajfa-3495	199	17	that	that	SCONJ
ajfa-3495	199	18	profitability	profitability	NOUN
ajfa-3495	199	19	,	,	PUNCT
ajfa-3495	199	20	collateral	collateral	NOUN
ajfa-3495	199	21	and	and	CCONJ
ajfa-3495	199	22	liquidity	liquidity	NOUN
ajfa-3495	199	23	have	have	VERB
ajfa-3495	199	24	significant	significant	ADJ
ajfa-3495	199	25	and	and	CCONJ
ajfa-3495	199	26	negative	negative	ADJ
ajfa-3495	199	27	impact	impact	NOUN
ajfa-3495	199	28	on	on	ADP
ajfa-3495	199	29	leverage	leverage	NOUN
ajfa-3495	199	30	.	.	PUNCT
ajfa-3495	200	1	positive	positive	ADJ
ajfa-3495	200	2	and	and	CCONJ
ajfa-3495	200	3	significant	significant	ADJ
ajfa-3495	200	4	impact	impact	NOUN
ajfa-3495	200	5	of	of	ADP
ajfa-3495	200	6	market	market	NOUN
ajfa-3495	200	7	to	to	ADP
ajfa-3495	200	8	book	book	NOUN
ajfa-3495	200	9	value	value	NOUN
ajfa-3495	200	10	ratio	ratio	NOUN
ajfa-3495	200	11	on	on	ADP
ajfa-3495	200	12	leverage	leverage	NOUN
ajfa-3495	200	13	has	have	AUX
ajfa-3495	200	14	been	be	AUX
ajfa-3495	200	15	found	find	VERB
ajfa-3495	200	16	in	in	ADP
ajfa-3495	200	17	this	this	DET
ajfa-3495	200	18	study	study	NOUN
ajfa-3495	200	19	.	.	PUNCT
ajfa-3495	201	1	on	on	ADP
ajfa-3495	201	2	the	the	DET
ajfa-3495	201	3	other	other	ADJ
ajfa-3495	201	4	hand	hand	NOUN
ajfa-3495	201	5	,	,	PUNCT
ajfa-3495	201	6	dividend	dividend	NOUN
ajfa-3495	201	7	payment	payment	NOUN
ajfa-3495	201	8	and	and	CCONJ
ajfa-3495	201	9	size	size	NOUN
ajfa-3495	201	10	were	be	AUX
ajfa-3495	201	11	not	not	PART
ajfa-3495	201	12	found	find	VERB
ajfa-3495	201	13	as	as	ADP
ajfa-3495	201	14	significant	significant	ADJ
ajfa-3495	201	15	explanatory	explanatory	ADJ
ajfa-3495	201	16	variables	variable	NOUN
ajfa-3495	201	17	of	of	ADP
ajfa-3495	201	18	leverage	leverage	NOUN
ajfa-3495	201	19	.	.	PUNCT
ajfa-3495	202	1	results	result	NOUN
ajfa-3495	202	2	also	also	ADV
ajfa-3495	202	3	reveal	reveal	VERB
ajfa-3495	202	4	that	that	SCONJ
ajfa-3495	202	5	leverage	leverage	NOUN
ajfa-3495	202	6	ratios	ratio	NOUN
ajfa-3495	202	7	are	be	AUX
ajfa-3495	202	8	significantly	significantly	ADV
ajfa-3495	202	9	different	different	ADJ
ajfa-3495	202	10	across	across	ADP
ajfa-3495	202	11	bangladeshi	bangladeshi	ADJ
ajfa-3495	202	12	industries	industry	NOUN
ajfa-3495	202	13	.	.	PUNCT
ajfa-3495	203	1	overall	overall	ADV
ajfa-3495	203	2	all	all	DET
ajfa-3495	203	3	the	the	DET
ajfa-3495	203	4	results	result	NOUN
ajfa-3495	203	5	are	be	AUX
ajfa-3495	203	6	almost	almost	ADV
ajfa-3495	203	7	consistent	consistent	ADJ
ajfa-3495	203	8	with	with	ADP
ajfa-3495	203	9	previous	previous	ADJ
ajfa-3495	203	10	study	study	NOUN
ajfa-3495	203	11	and	and	CCONJ
ajfa-3495	203	12	capital	capital	NOUN
ajfa-3495	203	13	structure	structure	NOUN
ajfa-3495	203	14	.	.	PUNCT
ajfa-3495	204	1	however	however	ADV
ajfa-3495	204	2	,	,	PUNCT
ajfa-3495	204	3	the	the	DET
ajfa-3495	204	4	limitations	limitation	NOUN
ajfa-3495	204	5	of	of	ADP
ajfa-3495	204	6	this	this	DET
ajfa-3495	204	7	study	study	NOUN
ajfa-3495	204	8	can	can	AUX
ajfa-3495	204	9	open	open	VERB
ajfa-3495	204	10	the	the	DET
ajfa-3495	204	11	door	door	NOUN
ajfa-3495	204	12	of	of	ADP
ajfa-3495	204	13	opportunity	opportunity	NOUN
ajfa-3495	204	14	for	for	ADP
ajfa-3495	204	15	further	further	ADJ
ajfa-3495	204	16	research	research	NOUN
ajfa-3495	204	17	work	work	NOUN
ajfa-3495	204	18	in	in	ADP
ajfa-3495	204	19	this	this	DET
ajfa-3495	204	20	area	area	NOUN
ajfa-3495	204	21	.	.	PUNCT
ajfa-3495	205	1	this	this	DET
ajfa-3495	205	2	study	study	NOUN
ajfa-3495	205	3	only	only	ADV
ajfa-3495	205	4	uses	use	VERB
ajfa-3495	205	5	total	total	ADJ
ajfa-3495	205	6	debt	debt	NOUN
ajfa-3495	205	7	to	to	ADP
ajfa-3495	205	8	total	total	ADJ
ajfa-3495	205	9	assets	asset	NOUN
ajfa-3495	205	10	as	as	ADP
ajfa-3495	205	11	a	a	DET
ajfa-3495	205	12	dependent	dependent	ADJ
ajfa-3495	205	13	variable	variable	NOUN
ajfa-3495	205	14	,	,	PUNCT
ajfa-3495	205	15	the	the	DET
ajfa-3495	205	16	other	other	ADJ
ajfa-3495	205	17	definition	definition	NOUN
ajfa-3495	205	18	of	of	ADP
ajfa-3495	205	19	leverage	leverage	NOUN
ajfa-3495	205	20	can	can	AUX
ajfa-3495	205	21	be	be	AUX
ajfa-3495	205	22	used	use	VERB
ajfa-3495	205	23	in	in	ADP
ajfa-3495	205	24	future	future	ADJ
ajfa-3495	205	25	study	study	NOUN
ajfa-3495	205	26	to	to	PART
ajfa-3495	205	27	identify	identify	VERB
ajfa-3495	205	28	which	which	DET
ajfa-3495	205	29	definition	definition	NOUN
ajfa-3495	205	30	of	of	ADP
ajfa-3495	205	31	leverage	leverage	NOUN
ajfa-3495	205	32	is	be	AUX
ajfa-3495	205	33	powerfully	powerfully	ADV
ajfa-3495	205	34	explained	explain	VERB
ajfa-3495	205	35	by	by	ADP
ajfa-3495	205	36	given	give	VERB
ajfa-3495	205	37	control	control	NOUN
ajfa-3495	205	38	variables	variable	NOUN
ajfa-3495	205	39	.	.	PUNCT
ajfa-3495	206	1	in	in	ADP
ajfa-3495	206	2	conclusion	conclusion	NOUN
ajfa-3495	206	3	,	,	PUNCT
ajfa-3495	206	4	overall	overall	ADJ
ajfa-3495	206	5	results	result	NOUN
ajfa-3495	206	6	can	can	AUX
ajfa-3495	206	7	be	be	AUX
ajfa-3495	206	8	improved	improve	VERB
ajfa-3495	206	9	by	by	ADP
ajfa-3495	206	10	including	include	VERB
ajfa-3495	206	11	new	new	ADJ
ajfa-3495	206	12	explanatory	explanatory	ADJ
ajfa-3495	206	13	variables	variable	NOUN
ajfa-3495	206	14	and	and	CCONJ
ajfa-3495	206	15	observations	observation	NOUN
ajfa-3495	206	16	and	and	CCONJ
ajfa-3495	206	17	management	management	NOUN
ajfa-3495	206	18	preference	preference	NOUN
ajfa-3495	206	19	to	to	ADP
ajfa-3495	206	20	debt	debt	NOUN
ajfa-3495	206	21	and	and	CCONJ
ajfa-3495	206	22	equity	equity	NOUN
ajfa-3495	206	23	.	.	PUNCT
ajfa-3495	207	1	asian	asian	ADJ
ajfa-3495	207	2	journal	journal	PROPN
ajfa-3495	207	3	of	of	ADP
ajfa-3495	207	4	finance	finance	PROPN
ajfa-3495	207	5	&	&	CCONJ
ajfa-3495	207	6	accounting	accounting	PROPN
ajfa-3495	207	7	issn	issn	PROPN
ajfa-3495	207	8	1946	1946	NUM
ajfa-3495	207	9	-	-	PUNCT
ajfa-3495	207	10	052x	052x	NOUN
ajfa-3495	207	11	2013	2013	NUM
ajfa-3495	207	12	,	,	PUNCT
ajfa-3495	207	13	vol	vol	NOUN
ajfa-3495	207	14	.	.	PROPN
ajfa-3495	207	15	5	5	NUM
ajfa-3495	207	16	,	,	PUNCT
ajfa-3495	207	17	no	no	INTJ
ajfa-3495	207	18	.	.	NOUN
ajfa-3495	207	19	1	1	NUM
ajfa-3495	207	20	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-3495	207	21	331	331	NUM
ajfa-3495	207	22	references	reference	NOUN
ajfa-3495	207	23	adam	adam	PROPN
ajfa-3495	207	24	,	,	PUNCT
ajfa-3495	207	25	t.	t.	NOUN
ajfa-3495	207	26	and	and	CCONJ
ajfa-3495	207	27	goyal	goyal	PROPN
ajfa-3495	207	28	,	,	PUNCT
ajfa-3495	207	29	v.	v.	PROPN
ajfa-3495	207	30	(	(	PUNCT
ajfa-3495	207	31	2002	2002	NUM
ajfa-3495	207	32	)	)	PUNCT
ajfa-3495	207	33	.	.	PUNCT
ajfa-3495	208	1	the	the	DET
ajfa-3495	208	2	investment	investment	NOUN
ajfa-3495	208	3	opportunity	opportunity	NOUN
ajfa-3495	208	4	set	set	NOUN
ajfa-3495	208	5	and	and	CCONJ
ajfa-3495	208	6	its	its	PRON
ajfa-3495	208	7	proxy	proxy	NOUN
ajfa-3495	208	8	variables	variable	NOUN
ajfa-3495	208	9	:	:	PUNCT
ajfa-3495	208	10	theory	theory	NOUN
ajfa-3495	208	11	and	and	CCONJ
ajfa-3495	208	12	evidence	evidence	NOUN
ajfa-3495	208	13	,	,	PUNCT
ajfa-3495	208	14	working	working	NOUN
ajfa-3495	208	15	paper	paper	NOUN
ajfa-3495	208	16	,	,	PUNCT
ajfa-3495	208	17	hong	hong	PROPN
ajfa-3495	208	18	kong	kong	PROPN
ajfa-3495	208	19	university	university	PROPN
ajfa-3495	208	20	of	of	ADP
ajfa-3495	208	21	science	science	PROPN
ajfa-3495	208	22	&	&	CCONJ
ajfa-3495	208	23	technology	technology	PROPN
ajfa-3495	208	24	.	.	PUNCT
ajfa-3495	209	1	baker	baker	PROPN
ajfa-3495	209	2	,	,	PUNCT
ajfa-3495	209	3	m.	m.	NOUN
ajfa-3495	209	4	and	and	CCONJ
ajfa-3495	209	5	wurgler	wurgler	NOUN
ajfa-3495	209	6	,	,	PUNCT
ajfa-3495	209	7	j.	j.	PROPN
ajfa-3495	209	8	(	(	PUNCT
ajfa-3495	209	9	2000	2000	NUM
ajfa-3495	209	10	)	)	PUNCT
ajfa-3495	209	11	.	.	PUNCT
ajfa-3495	210	1	the	the	DET
ajfa-3495	210	2	equity	equity	NOUN
ajfa-3495	210	3	share	share	NOUN
ajfa-3495	210	4	in	in	ADP
ajfa-3495	210	5	new	new	ADJ
ajfa-3495	210	6	issues	issue	NOUN
ajfa-3495	210	7	and	and	CCONJ
ajfa-3495	210	8	aggregate	aggregate	VERB
ajfa-3495	210	9	stock	stock	NOUN
ajfa-3495	210	10	returns	return	NOUN
ajfa-3495	210	11	.	.	PUNCT
ajfa-3495	211	1	journal	journal	NOUN
ajfa-3495	211	2	of	of	ADP
ajfa-3495	211	3	finance	finance	NOUN
ajfa-3495	211	4	,	,	PUNCT
ajfa-3495	211	5	55	55	NUM
ajfa-3495	211	6	,	,	PUNCT
ajfa-3495	211	7	2219–57	2219–57	NOUN
ajfa-3495	211	8	.	.	PUNCT
ajfa-3495	212	1	http://dx.doi.org/10.1111/0022-1082.00285	http://dx.doi.org/10.1111/0022-1082.00285	PROPN
ajfa-3495	212	2	baker	baker	PROPN
ajfa-3495	212	3	,	,	PUNCT
ajfa-3495	212	4	m.	m.	NOUN
ajfa-3495	212	5	and	and	CCONJ
ajfa-3495	212	6	wurgler	wurgler	NOUN
ajfa-3495	212	7	,	,	PUNCT
ajfa-3495	212	8	j.	j.	PROPN
ajfa-3495	212	9	(	(	PUNCT
ajfa-3495	212	10	2002	2002	NUM
ajfa-3495	212	11	)	)	PUNCT
ajfa-3495	212	12	.	.	PUNCT
ajfa-3495	213	1	market	market	NOUN
ajfa-3495	213	2	timing	timing	NOUN
ajfa-3495	213	3	and	and	CCONJ
ajfa-3495	213	4	capital	capital	NOUN
ajfa-3495	213	5	structure	structure	NOUN
ajfa-3495	213	6	.	.	PUNCT
ajfa-3495	214	1	journal	journal	PROPN
ajfa-3495	214	2	of	of	ADP
ajfa-3495	214	3	finance	finance	NOUN
ajfa-3495	214	4	,	,	PUNCT
ajfa-3495	214	5	57	57	NUM
ajfa-3495	214	6	,	,	PUNCT
ajfa-3495	214	7	1	1	NUM
ajfa-3495	214	8	-	-	SYM
ajfa-3495	214	9	32	32	NUM
ajfa-3495	214	10	.	.	PUNCT
ajfa-3495	215	1	http://dx.doi.org/10.1111/1540-6261.00414	http://dx.doi.org/10.1111/1540-6261.00414	PROPN
ajfa-3495	215	2	b.	b.	PROPN
ajfa-3495	215	3	h.	h.	PROPN
ajfa-3495	215	4	baltagi	baltagi	PROPN
ajfa-3495	215	5	.	.	PUNCT
ajfa-3495	216	1	(	(	PUNCT
ajfa-3495	216	2	2005	2005	NUM
ajfa-3495	216	3	)	)	PUNCT
ajfa-3495	216	4	.	.	PUNCT
ajfa-3495	217	1	econometric	econometric	ADJ
ajfa-3495	217	2	analysis	analysis	NOUN
ajfa-3495	217	3	of	of	ADP
ajfa-3495	217	4	panel	panel	NOUN
ajfa-3495	217	5	data	datum	NOUN
ajfa-3495	217	6	.	.	PUNCT
ajfa-3495	218	1	third	third	PROPN
ajfa-3495	218	2	edition	edition	PROPN
ajfa-3495	218	3	,	,	PUNCT
ajfa-3495	218	4	new	new	PROPN
ajfa-3495	218	5	york	york	PROPN
ajfa-3495	218	6	,	,	PUNCT
ajfa-3495	218	7	john	john	PROPN
ajfa-3495	218	8	wiley	wiley	PROPN
ajfa-3495	218	9	&	&	CCONJ
ajfa-3495	218	10	sons	sons	PROPN
ajfa-3495	218	11	inc	inc	PROPN
ajfa-3495	218	12	.	.	PROPN
ajfa-3495	218	13	pmid:15791684	pmid:15791684	PROPN
ajfa-3495	218	14	bertrand	bertrand	PROPN
ajfa-3495	218	15	,	,	PUNCT
ajfa-3495	218	16	m.	m.	NOUN
ajfa-3495	218	17	and	and	CCONJ
ajfa-3495	218	18	schoar	schoar	NOUN
ajfa-3495	218	19	,	,	PUNCT
ajfa-3495	218	20	a.	a.	NOUN
ajfa-3495	218	21	(	(	PUNCT
ajfa-3495	218	22	2003	2003	NUM
ajfa-3495	218	23	)	)	PUNCT
ajfa-3495	218	24	.	.	PUNCT
ajfa-3495	219	1	managing	manage	VERB
ajfa-3495	219	2	with	with	ADP
ajfa-3495	219	3	style	style	NOUN
ajfa-3495	219	4	:	:	PUNCT
ajfa-3495	219	5	the	the	DET
ajfa-3495	219	6	effect	effect	NOUN
ajfa-3495	219	7	of	of	ADP
ajfa-3495	219	8	managers	manager	NOUN
ajfa-3495	219	9	on	on	ADP
ajfa-3495	219	10	firm	firm	ADJ
ajfa-3495	219	11	policies	policy	NOUN
ajfa-3495	219	12	.	.	PUNCT
ajfa-3495	220	1	quarterly	quarterly	ADJ
ajfa-3495	220	2	journal	journal	NOUN
ajfa-3495	220	3	of	of	ADP
ajfa-3495	220	4	economics	economic	NOUN
ajfa-3495	220	5	,	,	PUNCT
ajfa-3495	220	6	118(4	118(4	NUM
ajfa-3495	220	7	)	)	PUNCT
ajfa-3495	220	8	,	,	PUNCT
ajfa-3495	220	9	1169	1169	NUM
ajfa-3495	220	10	-	-	SYM
ajfa-3495	220	11	1208	1208	NUM
ajfa-3495	220	12	.	.	PUNCT
ajfa-3495	221	1	http://dx.doi.org/10.1162/003355303322552775	http://dx.doi.org/10.1162/003355303322552775	PROPN
ajfa-3495	221	2	bloch	bloch	PROPN
ajfa-3495	221	3	,	,	PUNCT
ajfa-3495	221	4	l.	l.	PROPN
ajfa-3495	221	5	and	and	CCONJ
ajfa-3495	221	6	kremp	kremp	PROPN
ajfa-3495	221	7	,	,	PUNCT
ajfa-3495	221	8	e.	e.	PROPN
ajfa-3495	221	9	(	(	PUNCT
ajfa-3495	221	10	2002	2002	NUM
ajfa-3495	221	11	,	,	PUNCT
ajfa-3495	221	12	)	)	PUNCT
ajfa-3495	221	13	.	.	PUNCT
ajfa-3495	222	1	in	in	ADP
ajfa-3495	222	2	barca	barca	PROPN
ajfa-3495	222	3	,	,	PUNCT
ajfa-3495	222	4	f.	f.	PROPN
ajfa-3495	222	5	and	and	CCONJ
ajfa-3495	222	6	becht	becht	PROPN
ajfa-3495	222	7	,	,	PUNCT
ajfa-3495	222	8	m	m	PRON
ajfa-3495	222	9	,	,	PUNCT
ajfa-3495	222	10	the	the	DET
ajfa-3495	222	11	control	control	NOUN
ajfa-3495	222	12	of	of	ADP
ajfa-3495	222	13	corporate	corporate	ADJ
ajfa-3495	222	14	europe	europe	PROPN
ajfa-3495	222	15	.	.	PUNCT
ajfa-3495	223	1	oxford	oxford	PROPN
ajfa-3495	223	2	university	university	PROPN
ajfa-3495	223	3	press	press	NOUN
ajfa-3495	223	4	,	,	PUNCT
ajfa-3495	223	5	106	106	NUM
ajfa-3495	223	6	-	-	SYM
ajfa-3495	223	7	128	128	NUM
ajfa-3495	223	8	,	,	PUNCT
ajfa-3495	223	9	http://dx.doi.org/10.1093/0199257531.001.0001	http://dx.doi.org/10.1093/0199257531.001.0001	PROPN
ajfa-3495	223	10	.	.	PUNCT
ajfa-3495	223	11	easterbrook	easterbrook	PROPN
ajfa-3495	223	12	,	,	PUNCT
ajfa-3495	223	13	f.	f.	PROPN
ajfa-3495	223	14	(	(	PUNCT
ajfa-3495	223	15	1984	1984	NUM
ajfa-3495	223	16	)	)	PUNCT
ajfa-3495	223	17	.	.	PUNCT
ajfa-3495	224	1	two	two	NUM
ajfa-3495	224	2	agency	agency	NOUN
ajfa-3495	224	3	-	-	PUNCT
ajfa-3495	224	4	cost	cost	NOUN
ajfa-3495	224	5	explanations	explanation	NOUN
ajfa-3495	224	6	of	of	ADP
ajfa-3495	224	7	dividends	dividend	NOUN
ajfa-3495	224	8	.	.	PUNCT
ajfa-3495	225	1	american	american	PROPN
ajfa-3495	225	2	economic	economic	PROPN
ajfa-3495	225	3	review	review	PROPN
ajfa-3495	225	4	,	,	PUNCT
ajfa-3495	225	5	74(4	74(4	NUM
ajfa-3495	225	6	)	)	PUNCT
ajfa-3495	225	7	,	,	PUNCT
ajfa-3495	225	8	650	650	NUM
ajfa-3495	225	9	-	-	SYM
ajfa-3495	225	10	659	659	NUM
ajfa-3495	225	11	fama	fama	NOUN
ajfa-3495	225	12	,	,	PUNCT
ajfa-3495	225	13	e.	e.	PROPN
ajfa-3495	225	14	and	and	CCONJ
ajfa-3495	225	15	french	french	PROPN
ajfa-3495	225	16	,	,	PUNCT
ajfa-3495	225	17	k.	k.	PROPN
ajfa-3495	225	18	(	(	PUNCT
ajfa-3495	225	19	2002	2002	NUM
ajfa-3495	225	20	)	)	PUNCT
ajfa-3495	225	21	.	.	PUNCT
ajfa-3495	226	1	testing	test	VERB
ajfa-3495	226	2	trade	trade	NOUN
ajfa-3495	226	3	-	-	PUNCT
ajfa-3495	226	4	off	off	NOUN
ajfa-3495	226	5	and	and	CCONJ
ajfa-3495	226	6	pecking	pecking	NOUN
ajfa-3495	226	7	order	order	NOUN
ajfa-3495	226	8	predictions	prediction	NOUN
ajfa-3495	226	9	about	about	ADP
ajfa-3495	226	10	dividends	dividend	NOUN
ajfa-3495	226	11	and	and	CCONJ
ajfa-3495	226	12	debt	debt	NOUN
ajfa-3495	226	13	.	.	PUNCT
ajfa-3495	227	1	review	review	NOUN
ajfa-3495	227	2	of	of	ADP
ajfa-3495	227	3	financial	financial	ADJ
ajfa-3495	227	4	studies	study	NOUN
ajfa-3495	227	5	,	,	PUNCT
ajfa-3495	227	6	15	15	NUM
ajfa-3495	227	7	,	,	PUNCT
ajfa-3495	227	8	1	1	NUM
ajfa-3495	227	9	-	-	SYM
ajfa-3495	227	10	33	33	NUM
ajfa-3495	227	11	.	.	PUNCT
ajfa-3495	228	1	http://dx.doi.org/10.1093/rfs/15.1.1	http://dx.doi.org/10.1093/rfs/15.1.1	X
ajfa-3495	228	2	frank	frank	PROPN
ajfa-3495	228	3	,	,	PUNCT
ajfa-3495	228	4	m.	m.	NOUN
ajfa-3495	228	5	and	and	CCONJ
ajfa-3495	228	6	goyal	goyal	PROPN
ajfa-3495	228	7	,	,	PUNCT
ajfa-3495	228	8	v.	v.	PROPN
ajfa-3495	228	9	(	(	PUNCT
ajfa-3495	228	10	2003	2003	NUM
ajfa-3495	228	11	)	)	PUNCT
ajfa-3495	228	12	.	.	PUNCT
ajfa-3495	229	1	testing	test	VERB
ajfa-3495	229	2	the	the	DET
ajfa-3495	229	3	pecking	pecking	NOUN
ajfa-3495	229	4	order	order	NOUN
ajfa-3495	229	5	theory	theory	NOUN
ajfa-3495	229	6	of	of	ADP
ajfa-3495	229	7	capital	capital	NOUN
ajfa-3495	229	8	structure	structure	NOUN
ajfa-3495	229	9	.	.	PUNCT
ajfa-3495	230	1	journal	journal	NOUN
ajfa-3495	230	2	of	of	ADP
ajfa-3495	230	3	financial	financial	ADJ
ajfa-3495	230	4	economics	economic	NOUN
ajfa-3495	230	5	,	,	PUNCT
ajfa-3495	230	6	67	67	NUM
ajfa-3495	230	7	,	,	PUNCT
ajfa-3495	230	8	217	217	NUM
ajfa-3495	230	9	-	-	SYM
ajfa-3495	230	10	248	248	NUM
ajfa-3495	230	11	.	.	PUNCT
ajfa-3495	231	1	http://dx.doi.org/10.1016/s0304-405x(02)00252-0	http://dx.doi.org/10.1016/s0304-405x(02)00252-0	PROPN
ajfa-3495	231	2	frank	frank	PROPN
ajfa-3495	231	3	,	,	PUNCT
ajfa-3495	231	4	m.	m.	NOUN
ajfa-3495	231	5	and	and	CCONJ
ajfa-3495	231	6	goyal	goyal	PROPN
ajfa-3495	231	7	,	,	PUNCT
ajfa-3495	231	8	v.	v.	PROPN
ajfa-3495	231	9	(	(	PUNCT
ajfa-3495	231	10	2004	2004	NUM
ajfa-3495	231	11	)	)	PUNCT
ajfa-3495	231	12	.	.	PUNCT
ajfa-3495	232	1	capital	capital	NOUN
ajfa-3495	232	2	structure	structure	NOUN
ajfa-3495	232	3	decisions	decision	NOUN
ajfa-3495	232	4	:	:	PUNCT
ajfa-3495	232	5	which	which	DET
ajfa-3495	232	6	factors	factor	NOUN
ajfa-3495	232	7	are	be	AUX
ajfa-3495	232	8	reliably	reliably	ADV
ajfa-3495	232	9	important	important	ADJ
ajfa-3495	232	10	,	,	PUNCT
ajfa-3495	232	11	working	working	NOUN
ajfa-3495	232	12	paper	paper	NOUN
ajfa-3495	232	13	,	,	PUNCT
ajfa-3495	232	14	sauder	sauder	NOUN
ajfa-3495	232	15	school	school	NOUN
ajfa-3495	232	16	of	of	ADP
ajfa-3495	232	17	business	business	NOUN
ajfa-3495	232	18	,	,	PUNCT
ajfa-3495	232	19	university	university	NOUN
ajfa-3495	232	20	of	of	ADP
ajfa-3495	232	21	british	british	PROPN
ajfa-3495	232	22	columbia	columbia	PROPN
ajfa-3495	232	23	,	,	PUNCT
ajfa-3495	232	24	canada	canada	PROPN
ajfa-3495	232	25	.	.	PUNCT
ajfa-3495	233	1	gilovich	gilovich	PROPN
ajfa-3495	233	2	,	,	PUNCT
ajfa-3495	233	3	t.	t.	PROPN
ajfa-3495	233	4	,	,	PUNCT
ajfa-3495	233	5	griffin	griffin	PROPN
ajfa-3495	233	6	,	,	PUNCT
ajfa-3495	233	7	d.	d.	PROPN
ajfa-3495	233	8	and	and	CCONJ
ajfa-3495	233	9	kahneman	kahneman	PROPN
ajfa-3495	233	10	,	,	PUNCT
ajfa-3495	233	11	d.	d.	PROPN
ajfa-3495	233	12	(	(	PUNCT
ajfa-3495	233	13	2002	2002	NUM
ajfa-3495	233	14	)	)	PUNCT
ajfa-3495	233	15	.	.	PUNCT
ajfa-3495	234	1	heuristics	heuristic	NOUN
ajfa-3495	234	2	and	and	CCONJ
ajfa-3495	234	3	biases	bias	NOUN
ajfa-3495	234	4	:	:	PUNCT
ajfa-3495	234	5	the	the	DET
ajfa-3495	234	6	psychology	psychology	NOUN
ajfa-3495	234	7	of	of	ADP
ajfa-3495	234	8	intuitive	intuitive	ADJ
ajfa-3495	234	9	judgement	judgement	NOUN
ajfa-3495	234	10	,	,	PUNCT
ajfa-3495	234	11	cambridge	cambridge	PROPN
ajfa-3495	234	12	university	university	PROPN
ajfa-3495	234	13	press	press	NOUN
ajfa-3495	234	14	,	,	PUNCT
ajfa-3495	234	15	new	new	PROPN
ajfa-3495	234	16	york	york	PROPN
ajfa-3495	234	17	,	,	PUNCT
ajfa-3495	234	18	usa	usa	PROPN
ajfa-3495	234	19	.	.	PROPN
ajfa-3495	234	20	http://dx.doi.org/10.1017/cbo9780511808098	http://dx.doi.org/10.1017/cbo9780511808098	PROPN
ajfa-3495	234	21	graham	graham	PROPN
ajfa-3495	234	22	,	,	PUNCT
ajfa-3495	234	23	j.	j.	PROPN
ajfa-3495	234	24	and	and	CCONJ
ajfa-3495	234	25	harvey	harvey	PROPN
ajfa-3495	234	26	,	,	PUNCT
ajfa-3495	234	27	c.	c.	PROPN
ajfa-3495	234	28	(	(	PUNCT
ajfa-3495	234	29	2001	2001	NUM
ajfa-3495	234	30	)	)	PUNCT
ajfa-3495	234	31	.	.	PUNCT
ajfa-3495	235	1	the	the	DET
ajfa-3495	235	2	theory	theory	NOUN
ajfa-3495	235	3	and	and	CCONJ
ajfa-3495	235	4	practice	practice	NOUN
ajfa-3495	235	5	of	of	ADP
ajfa-3495	235	6	corporate	corporate	ADJ
ajfa-3495	235	7	finance	finance	NOUN
ajfa-3495	235	8	:	:	PUNCT
ajfa-3495	235	9	evidence	evidence	NOUN
ajfa-3495	235	10	from	from	ADP
ajfa-3495	235	11	the	the	DET
ajfa-3495	235	12	field	field	NOUN
ajfa-3495	235	13	.	.	PUNCT
ajfa-3495	236	1	journal	journal	NOUN
ajfa-3495	236	2	of	of	ADP
ajfa-3495	236	3	financial	financial	ADJ
ajfa-3495	236	4	economics	economic	NOUN
ajfa-3495	236	5	,	,	PUNCT
ajfa-3495	236	6	60	60	NUM
ajfa-3495	236	7	,	,	PUNCT
ajfa-3495	236	8	187	187	NUM
ajfa-3495	236	9	-	-	SYM
ajfa-3495	236	10	243	243	NUM
ajfa-3495	236	11	.	.	PUNCT
ajfa-3495	237	1	http://dx.doi.org/10.1016/s0304-405x(01)00044-7	http://dx.doi.org/10.1016/s0304-405x(01)00044-7	PROPN
ajfa-3495	237	2	hackbarth	hackbarth	PROPN
ajfa-3495	237	3	,	,	PUNCT
ajfa-3495	237	4	d.	d.	PROPN
ajfa-3495	237	5	(	(	PUNCT
ajfa-3495	237	6	2004	2004	NUM
ajfa-3495	237	7	)	)	PUNCT
ajfa-3495	237	8	.	.	PUNCT
ajfa-3495	238	1	managerial	managerial	ADJ
ajfa-3495	238	2	traits	trait	NOUN
ajfa-3495	238	3	and	and	CCONJ
ajfa-3495	238	4	capital	capital	NOUN
ajfa-3495	238	5	structure	structure	NOUN
ajfa-3495	238	6	decisions	decision	NOUN
ajfa-3495	238	7	,	,	PUNCT
ajfa-3495	238	8	working	working	NOUN
ajfa-3495	238	9	paper	paper	NOUN
ajfa-3495	238	10	,	,	PUNCT
ajfa-3495	238	11	finance	finance	NOUN
ajfa-3495	238	12	department	department	NOUN
ajfa-3495	238	13	,	,	PUNCT
ajfa-3495	238	14	kelley	kelley	PROPN
ajfa-3495	238	15	school	school	PROPN
ajfa-3495	238	16	of	of	ADP
ajfa-3495	238	17	business	business	NOUN
ajfa-3495	238	18	,	,	PUNCT
ajfa-3495	238	19	indiana	indiana	PROPN
ajfa-3495	238	20	university	university	PROPN
ajfa-3495	238	21	,	,	PUNCT
ajfa-3495	238	22	usa	usa	PROPN
ajfa-3495	238	23	heaton	heaton	PROPN
ajfa-3495	238	24	,	,	PUNCT
ajfa-3495	238	25	j.	j.	PROPN
ajfa-3495	238	26	(	(	PUNCT
ajfa-3495	238	27	2002	2002	NUM
ajfa-3495	238	28	)	)	PUNCT
ajfa-3495	238	29	.	.	PUNCT
ajfa-3495	239	1	managerial	managerial	ADJ
ajfa-3495	239	2	optimism	optimism	NOUN
ajfa-3495	239	3	and	and	CCONJ
ajfa-3495	239	4	corporate	corporate	ADJ
ajfa-3495	239	5	finance	finance	NOUN
ajfa-3495	239	6	.	.	PUNCT
ajfa-3495	240	1	financial	financial	ADJ
ajfa-3495	240	2	management	management	NOUN
ajfa-3495	240	3	,	,	PUNCT
ajfa-3495	240	4	31(2	31(2	NUM
ajfa-3495	240	5	)	)	PUNCT
ajfa-3495	240	6	,	,	PUNCT
ajfa-3495	240	7	33	33	NUM
ajfa-3495	240	8	-	-	SYM
ajfa-3495	240	9	45	45	NUM
ajfa-3495	240	10	.	.	PUNCT
ajfa-3495	241	1	http://dx.doi.org/10.2307/3666221	http://dx.doi.org/10.2307/3666221	PROPN
ajfa-3495	241	2	hirshleifer	hirshleifer	PROPN
ajfa-3495	241	3	,	,	PUNCT
ajfa-3495	241	4	d.	d.	PROPN
ajfa-3495	241	5	and	and	CCONJ
ajfa-3495	241	6	teoh	teoh	PROPN
ajfa-3495	241	7	,	,	PUNCT
ajfa-3495	241	8	s.	s.	PROPN
ajfa-3495	241	9	(	(	PUNCT
ajfa-3495	241	10	2003	2003	NUM
ajfa-3495	241	11	)	)	PUNCT
ajfa-3495	241	12	.	.	PUNCT
ajfa-3495	242	1	herd	herd	NOUN
ajfa-3495	242	2	behaviour	behaviour	NOUN
ajfa-3495	242	3	and	and	CCONJ
ajfa-3495	242	4	cascading	cascade	VERB
ajfa-3495	242	5	in	in	ADP
ajfa-3495	242	6	capital	capital	NOUN
ajfa-3495	242	7	markets	market	NOUN
ajfa-3495	242	8	:	:	PUNCT
ajfa-3495	242	9	a	a	DET
ajfa-3495	242	10	review	review	NOUN
ajfa-3495	242	11	and	and	CCONJ
ajfa-3495	242	12	synthesis	synthesis	NOUN
ajfa-3495	242	13	.	.	PUNCT
ajfa-3495	243	1	european	european	ADJ
ajfa-3495	243	2	financial	financial	ADJ
ajfa-3495	243	3	management	management	NOUN
ajfa-3495	243	4	,	,	PUNCT
ajfa-3495	243	5	9(1	9(1	NUM
ajfa-3495	243	6	)	)	PUNCT
ajfa-3495	243	7	,	,	PUNCT
ajfa-3495	243	8	25	25	NUM
ajfa-3495	243	9	-	-	SYM
ajfa-3495	243	10	66	66	NUM
ajfa-3495	243	11	.	.	PUNCT
ajfa-3495	244	1	http://dx.doi.org/10.1111/1468-036x.00207	http://dx.doi.org/10.1111/1468-036x.00207	NOUN
ajfa-3495	244	2	asian	asian	ADJ
ajfa-3495	244	3	journal	journal	NOUN
ajfa-3495	244	4	of	of	ADP
ajfa-3495	244	5	finance	finance	PROPN
ajfa-3495	244	6	&	&	CCONJ
ajfa-3495	244	7	accounting	accounting	PROPN
ajfa-3495	244	8	issn	issn	PROPN
ajfa-3495	244	9	1946	1946	NUM
ajfa-3495	244	10	-	-	PUNCT
ajfa-3495	244	11	052x	052x	NOUN
ajfa-3495	244	12	2013	2013	NUM
ajfa-3495	244	13	,	,	PUNCT
ajfa-3495	244	14	vol	vol	NOUN
ajfa-3495	244	15	.	.	PROPN
ajfa-3495	244	16	5	5	NUM
ajfa-3495	244	17	,	,	PUNCT
ajfa-3495	244	18	no	no	INTJ
ajfa-3495	244	19	.	.	NOUN
ajfa-3495	244	20	1	1	NUM
ajfa-3495	244	21	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-3495	244	22	332	332	NUM
ajfa-3495	244	23	hovakimian	hovakimian	ADJ
ajfa-3495	244	24	,	,	PUNCT
ajfa-3495	244	25	a.	a.	NOUN
ajfa-3495	244	26	(	(	PUNCT
ajfa-3495	244	27	2006	2006	NUM
ajfa-3495	244	28	)	)	PUNCT
ajfa-3495	244	29	.	.	PUNCT
ajfa-3495	245	1	are	be	AUX
ajfa-3495	245	2	observed	observe	VERB
ajfa-3495	245	3	capital	capital	NOUN
ajfa-3495	245	4	structures	structure	NOUN
ajfa-3495	245	5	determined	determine	VERB
ajfa-3495	245	6	by	by	ADP
ajfa-3495	245	7	equity	equity	NOUN
ajfa-3495	245	8	market	market	NOUN
ajfa-3495	245	9	timing	timing	NOUN
ajfa-3495	245	10	.	.	PUNCT
ajfa-3495	246	1	journal	journal	NOUN
ajfa-3495	246	2	of	of	ADP
ajfa-3495	246	3	financial	financial	ADJ
ajfa-3495	246	4	and	and	CCONJ
ajfa-3495	246	5	quantitative	quantitative	ADJ
ajfa-3495	246	6	analysis	analysis	NOUN
ajfa-3495	246	7	,	,	PUNCT
ajfa-3495	246	8	41(1	41(1	NUM
ajfa-3495	246	9	)	)	PUNCT
ajfa-3495	246	10	,	,	PUNCT
ajfa-3495	246	11	221	221	NUM
ajfa-3495	246	12	-	-	SYM
ajfa-3495	246	13	248	248	NUM
ajfa-3495	246	14	.	.	PUNCT
ajfa-3495	247	1	http://dx.doi.org/10.1017/s0022109000002489	http://dx.doi.org/10.1017/s0022109000002489	PROPN
ajfa-3495	247	2	hovakimian	hovakimian	PROPN
ajfa-3495	247	3	,	,	PUNCT
ajfa-3495	247	4	a.	a.	NOUN
ajfa-3495	247	5	,	,	PUNCT
ajfa-3495	247	6	opler	opler	ADJ
ajfa-3495	247	7	,	,	PUNCT
ajfa-3495	247	8	t.	t.	NOUN
ajfa-3495	247	9	and	and	CCONJ
ajfa-3495	247	10	titman	titman	PROPN
ajfa-3495	247	11	,	,	PUNCT
ajfa-3495	247	12	s.	s.	PROPN
ajfa-3495	247	13	(	(	PUNCT
ajfa-3495	247	14	2001	2001	NUM
ajfa-3495	247	15	)	)	PUNCT
ajfa-3495	247	16	.	.	PUNCT
ajfa-3495	248	1	the	the	DET
ajfa-3495	248	2	debt	debt	NOUN
ajfa-3495	248	3	-	-	PUNCT
ajfa-3495	248	4	equity	equity	NOUN
ajfa-3495	248	5	choice	choice	NOUN
ajfa-3495	248	6	.	.	PUNCT
ajfa-3495	249	1	journal	journal	NOUN
ajfa-3495	249	2	of	of	ADP
ajfa-3495	249	3	financial	financial	ADJ
ajfa-3495	249	4	and	and	CCONJ
ajfa-3495	249	5	quantitative	quantitative	ADJ
ajfa-3495	249	6	analysis	analysis	NOUN
ajfa-3495	249	7	,	,	PUNCT
ajfa-3495	249	8	36	36	NUM
ajfa-3495	249	9	,	,	PUNCT
ajfa-3495	249	10	1	1	NUM
ajfa-3495	249	11	-	-	SYM
ajfa-3495	249	12	24	24	NUM
ajfa-3495	249	13	.	.	PUNCT
ajfa-3495	250	1	http://dx.doi.org/10.2307/2676195	http://dx.doi.org/10.2307/2676195	PROPN
ajfa-3495	250	2	jensen	jensen	PROPN
ajfa-3495	250	3	,	,	PUNCT
ajfa-3495	250	4	m.	m.	NOUN
ajfa-3495	250	5	and	and	CCONJ
ajfa-3495	250	6	meckling	meckling	NOUN
ajfa-3495	250	7	,	,	PUNCT
ajfa-3495	250	8	w.	w.	NOUN
ajfa-3495	250	9	(	(	PUNCT
ajfa-3495	250	10	1976	1976	NUM
ajfa-3495	250	11	)	)	PUNCT
ajfa-3495	250	12	.	.	PUNCT
ajfa-3495	251	1	theory	theory	NOUN
ajfa-3495	251	2	of	of	ADP
ajfa-3495	251	3	the	the	DET
ajfa-3495	251	4	firm	firm	NOUN
ajfa-3495	251	5	:	:	PUNCT
ajfa-3495	251	6	managerial	managerial	ADJ
ajfa-3495	251	7	behaviour	behaviour	NOUN
ajfa-3495	251	8	,	,	PUNCT
ajfa-3495	251	9	agency	agency	NOUN
ajfa-3495	251	10	costs	cost	NOUN
ajfa-3495	251	11	and	and	CCONJ
ajfa-3495	251	12	ownership	ownership	NOUN
ajfa-3495	251	13	structure	structure	NOUN
ajfa-3495	251	14	.	.	PUNCT
ajfa-3495	252	1	journal	journal	NOUN
ajfa-3495	252	2	of	of	ADP
ajfa-3495	252	3	financial	financial	ADJ
ajfa-3495	252	4	economics	economic	NOUN
ajfa-3495	252	5	,	,	PUNCT
ajfa-3495	252	6	3(1	3(1	NUM
ajfa-3495	252	7	)	)	PUNCT
ajfa-3495	252	8	,	,	PUNCT
ajfa-3495	252	9	305	305	NUM
ajfa-3495	252	10	-	-	SYM
ajfa-3495	252	11	360	360	NUM
ajfa-3495	252	12	.	.	PUNCT
ajfa-3495	253	1	http://dx.doi.org/10.1016/0304-405x(76)90026-x	http://dx.doi.org/10.1016/0304-405x(76)90026-x	PROPN
ajfa-3495	253	2	kahneman	kahneman	PROPN
ajfa-3495	253	3	,	,	PUNCT
ajfa-3495	253	4	d.	d.	PROPN
ajfa-3495	253	5	and	and	CCONJ
ajfa-3495	253	6	tversky	tversky	PROPN
ajfa-3495	253	7	,	,	PUNCT
ajfa-3495	253	8	a.	a.	NOUN
ajfa-3495	253	9	(	(	PUNCT
ajfa-3495	253	10	1979	1979	NUM
ajfa-3495	253	11	)	)	PUNCT
ajfa-3495	253	12	.	.	PUNCT
ajfa-3495	254	1	prospect	prospect	PROPN
ajfa-3495	254	2	theory	theory	NOUN
ajfa-3495	254	3	:	:	PUNCT
ajfa-3495	254	4	an	an	DET
ajfa-3495	254	5	analysis	analysis	NOUN
ajfa-3495	254	6	of	of	ADP
ajfa-3495	254	7	decisions	decision	NOUN
ajfa-3495	254	8	under	under	ADP
ajfa-3495	254	9	risk	risk	NOUN
ajfa-3495	254	10	.	.	PUNCT
ajfa-3495	255	1	econometrica	econometrica	PROPN
ajfa-3495	255	2	,	,	PUNCT
ajfa-3495	255	3	46	46	NUM
ajfa-3495	255	4	,	,	PUNCT
ajfa-3495	255	5	171	171	NUM
ajfa-3495	255	6	-	-	SYM
ajfa-3495	255	7	185	185	NUM
ajfa-3495	255	8	.	.	PUNCT
ajfa-3495	256	1	lamoreaux	lamoreaux	PROPN
ajfa-3495	256	2	,	,	PUNCT
ajfa-3495	256	3	n.	n.	NOUN
ajfa-3495	256	4	and	and	CCONJ
ajfa-3495	256	5	rosenthal	rosenthal	PROPN
ajfa-3495	256	6	,	,	PUNCT
ajfa-3495	256	7	j.	j.	PROPN
ajfa-3495	256	8	(	(	PUNCT
ajfa-3495	256	9	2006	2006	NUM
ajfa-3495	256	10	)	)	PUNCT
ajfa-3495	256	11	.	.	PUNCT
ajfa-3495	257	1	legal	legal	ADJ
ajfa-3495	257	2	regime	regime	NOUN
ajfa-3495	257	3	of	of	ADP
ajfa-3495	257	4	business	business	NOUN
ajfa-3495	257	5	's	's	PART
ajfa-3495	257	6	organizational	organizational	ADJ
ajfa-3495	257	7	choice	choice	NOUN
ajfa-3495	257	8	-	-	PUNCT
ajfa-3495	257	9	a	a	DET
ajfa-3495	257	10	comparison	comparison	NOUN
ajfa-3495	257	11	of	of	ADP
ajfa-3495	257	12	france	france	PROPN
ajfa-3495	257	13	and	and	CCONJ
ajfa-3495	257	14	us	we	PRON
ajfa-3495	257	15	,	,	PUNCT
ajfa-3495	257	16	nber	nber	PROPN
ajfa-3495	257	17	working	working	PROPN
ajfa-3495	257	18	paper	paper	PROPN
ajfa-3495	257	19	w10288	w10288	PROPN
ajfa-3495	257	20	.	.	PROPN
ajfa-3495	257	21	langer	langer	PROPN
ajfa-3495	257	22	,	,	PUNCT
ajfa-3495	257	23	e.	e.	PROPN
ajfa-3495	257	24	(	(	PUNCT
ajfa-3495	257	25	1975	1975	NUM
ajfa-3495	257	26	)	)	PUNCT
ajfa-3495	257	27	.	.	PUNCT
ajfa-3495	258	1	the	the	DET
ajfa-3495	258	2	illusion	illusion	NOUN
ajfa-3495	258	3	of	of	ADP
ajfa-3495	258	4	control	control	NOUN
ajfa-3495	258	5	.	.	PUNCT
ajfa-3495	259	1	journal	journal	NOUN
ajfa-3495	259	2	of	of	ADP
ajfa-3495	259	3	personality	personality	NOUN
ajfa-3495	259	4	and	and	CCONJ
ajfa-3495	259	5	social	social	ADJ
ajfa-3495	259	6	psychology	psychology	NOUN
ajfa-3495	259	7	,	,	PUNCT
ajfa-3495	259	8	32	32	NUM
ajfa-3495	259	9	,	,	PUNCT
ajfa-3495	259	10	311–328	311–328	NUM
ajfa-3495	259	11	.	.	PUNCT
ajfa-3495	260	1	http://dx.doi.org/10.1037/0022-3514.32.2.311	http://dx.doi.org/10.1037/0022-3514.32.2.311	PROPN
ajfa-3495	260	2	m.	m.	NOUN
ajfa-3495	260	3	lima	lima	PROPN
ajfa-3495	260	4	.	.	PUNCT
ajfa-3495	261	1	(	(	PUNCT
ajfa-3495	261	2	2009	2009	NUM
ajfa-3495	261	3	)	)	PUNCT
ajfa-3495	261	4	.	.	PUNCT
ajfa-3495	262	1	an	an	DET
ajfa-3495	262	2	insight	insight	NOUN
ajfa-3495	262	3	into	into	ADP
ajfa-3495	262	4	the	the	DET
ajfa-3495	262	5	capital	capital	NOUN
ajfa-3495	262	6	structure	structure	NOUN
ajfa-3495	262	7	determinants	determinant	NOUN
ajfa-3495	262	8	of	of	ADP
ajfa-3495	262	9	the	the	DET
ajfa-3495	262	10	pharmaceutical	pharmaceutical	ADJ
ajfa-3495	262	11	companies	company	NOUN
ajfa-3495	262	12	in	in	ADP
ajfa-3495	262	13	bangladesh	bangladesh	NOUN
ajfa-3495	262	14	.	.	PUNCT
ajfa-3495	263	1	[	[	X
ajfa-3495	263	2	online	online	X
ajfa-3495	263	3	]	]	X
ajfa-3495	263	4	available	available	ADJ
ajfa-3495	263	5	at	at	ADP
ajfa-3495	263	6	:	:	PUNCT
ajfa-3495	263	7	http://www.gbmf.info/2009/an_insight_into_the_capital_structure_determinants_lima.pdf	http://www.gbmf.info/2009/an_insight_into_the_capital_structure_determinants_lima.pdf	PROPN
ajfa-3495	263	8	[	[	X
ajfa-3495	263	9	aug	aug	PROPN
ajfa-3495	263	10	.	.	PROPN
ajfa-3495	263	11	10	10	NUM
ajfa-3495	263	12	,	,	PUNCT
ajfa-3495	263	13	2011	2011	NUM
ajfa-3495	263	14	]	]	PUNCT
ajfa-3495	263	15	.	.	PUNCT
ajfa-3495	264	1	mackay	mackay	PROPN
ajfa-3495	264	2	,	,	PUNCT
ajfa-3495	264	3	p.	p.	NOUN
ajfa-3495	264	4	and	and	CCONJ
ajfa-3495	264	5	phillips	phillips	PROPN
ajfa-3495	264	6	,	,	PUNCT
ajfa-3495	264	7	g.	g.	PROPN
ajfa-3495	264	8	(	(	PUNCT
ajfa-3495	264	9	2005	2005	NUM
ajfa-3495	264	10	)	)	PUNCT
ajfa-3495	264	11	.	.	PUNCT
ajfa-3495	265	1	how	how	SCONJ
ajfa-3495	265	2	does	do	AUX
ajfa-3495	265	3	industry	industry	NOUN
ajfa-3495	265	4	affect	affect	VERB
ajfa-3495	265	5	firm	firm	ADJ
ajfa-3495	265	6	financial	financial	ADJ
ajfa-3495	265	7	structure	structure	NOUN
ajfa-3495	265	8	?	?	PUNCT
ajfa-3495	266	1	review	review	NOUN
ajfa-3495	266	2	of	of	ADP
ajfa-3495	266	3	financial	financial	ADJ
ajfa-3495	266	4	studies	study	NOUN
ajfa-3495	266	5	,	,	PUNCT
ajfa-3495	266	6	18	18	NUM
ajfa-3495	266	7	,	,	PUNCT
ajfa-3495	266	8	1433	1433	NUM
ajfa-3495	266	9	-	-	SYM
ajfa-3495	266	10	1466	1466	NUM
ajfa-3495	266	11	.	.	PUNCT
ajfa-3495	267	1	http://dx.doi.org/10.1093/rfs/hhi032	http://dx.doi.org/10.1093/rfs/hhi032	NOUN
ajfa-3495	267	2	malmendier	malmendier	NOUN
ajfa-3495	267	3	,	,	PUNCT
ajfa-3495	267	4	u.	u.	PROPN
ajfa-3495	267	5	and	and	CCONJ
ajfa-3495	267	6	tate	tate	PROPN
ajfa-3495	267	7	,	,	PUNCT
ajfa-3495	267	8	g.	g.	PROPN
ajfa-3495	267	9	(	(	PUNCT
ajfa-3495	267	10	2005a	2005a	NUM
ajfa-3495	267	11	)	)	PUNCT
ajfa-3495	267	12	.	.	PUNCT
ajfa-3495	268	1	does	do	AUX
ajfa-3495	268	2	overconfidence	overconfidence	NOUN
ajfa-3495	268	3	affect	affect	VERB
ajfa-3495	268	4	corporate	corporate	ADJ
ajfa-3495	268	5	investment	investment	NOUN
ajfa-3495	268	6	?	?	PUNCT
ajfa-3495	269	1	ceo	ceo	NOUN
ajfa-3495	269	2	overconfidence	overconfidence	NOUN
ajfa-3495	269	3	measures	measure	NOUN
ajfa-3495	269	4	revisited	revisit	VERB
ajfa-3495	269	5	.	.	PUNCT
ajfa-3495	270	1	european	european	ADJ
ajfa-3495	270	2	financial	financial	ADJ
ajfa-3495	270	3	management	management	PROPN
ajfa-3495	270	4	,	,	PUNCT
ajfa-3495	270	5	11(5	11(5	NUM
ajfa-3495	270	6	)	)	PUNCT
ajfa-3495	270	7	,	,	PUNCT
ajfa-3495	270	8	649	649	NUM
ajfa-3495	270	9	-	-	SYM
ajfa-3495	270	10	659	659	NUM
ajfa-3495	270	11	.	.	PUNCT
ajfa-3495	271	1	http://dx.doi.org/10.1111/j.1354-7798.2005.00302.x	http://dx.doi.org/10.1111/j.1354-7798.2005.00302.x	ADJ
ajfa-3495	271	2	malmendier	malmendier	NOUN
ajfa-3495	271	3	,	,	PUNCT
ajfa-3495	271	4	u.	u.	PROPN
ajfa-3495	271	5	and	and	CCONJ
ajfa-3495	271	6	tate	tate	PROPN
ajfa-3495	271	7	,	,	PUNCT
ajfa-3495	271	8	g.	g.	PROPN
ajfa-3495	271	9	(	(	PUNCT
ajfa-3495	271	10	2005b	2005b	NUM
ajfa-3495	271	11	)	)	PUNCT
ajfa-3495	271	12	.	.	PUNCT
ajfa-3495	272	1	ceo	ceo	NOUN
ajfa-3495	272	2	overconfidence	overconfidence	NOUN
ajfa-3495	272	3	and	and	CCONJ
ajfa-3495	272	4	corporate	corporate	ADJ
ajfa-3495	272	5	investment	investment	NOUN
ajfa-3495	272	6	.	.	PUNCT
ajfa-3495	273	1	journal	journal	PROPN
ajfa-3495	273	2	of	of	ADP
ajfa-3495	273	3	finance	finance	NOUN
ajfa-3495	273	4	,	,	PUNCT
ajfa-3495	273	5	60	60	NUM
ajfa-3495	273	6	,	,	PUNCT
ajfa-3495	273	7	2660	2660	NUM
ajfa-3495	273	8	-	-	SYM
ajfa-3495	273	9	2700	2700	NUM
ajfa-3495	273	10	.	.	PUNCT
ajfa-3495	274	1	http://dx.doi.org/10.1111/j.1540-6261.2005.00813.x	http://dx.doi.org/10.1111/j.1540-6261.2005.00813.x	NOUN
ajfa-3495	274	2	malmendier	malmendier	NOUN
ajfa-3495	274	3	,	,	PUNCT
ajfa-3495	274	4	u.	u.	PROPN
ajfa-3495	274	5	,	,	PUNCT
ajfa-3495	274	6	tate	tate	PROPN
ajfa-3495	274	7	,	,	PUNCT
ajfa-3495	274	8	g.	g.	PROPN
ajfa-3495	274	9	and	and	CCONJ
ajfa-3495	274	10	yan	yan	PROPN
ajfa-3495	274	11	,	,	PUNCT
ajfa-3495	274	12	j.	j.	PROPN
ajfa-3495	274	13	(	(	PUNCT
ajfa-3495	274	14	2005	2005	NUM
ajfa-3495	274	15	)	)	PUNCT
ajfa-3495	274	16	.	.	PUNCT
ajfa-3495	275	1	corporate	corporate	ADJ
ajfa-3495	275	2	financial	financial	ADJ
ajfa-3495	275	3	policies	policy	NOUN
ajfa-3495	275	4	with	with	ADP
ajfa-3495	275	5	overconfident	overconfident	ADJ
ajfa-3495	275	6	managers	manager	NOUN
ajfa-3495	275	7	,	,	PUNCT
ajfa-3495	275	8	8th	8th	ADJ
ajfa-3495	275	9	annual	annual	ADJ
ajfa-3495	275	10	texas	texas	PROPN
ajfa-3495	275	11	finance	finance	PROPN
ajfa-3495	275	12	festival	festival	PROPN
ajfa-3495	275	13	.	.	PUNCT
ajfa-3495	276	1	available	available	ADJ
ajfa-3495	276	2	at	at	ADP
ajfa-3495	276	3	ssrn	ssrn	PROPN
ajfa-3495	276	4	abstract	abstract	ADJ
ajfa-3495	276	5	895843	895843	NUM
ajfa-3495	276	6	.	.	PUNCT
ajfa-3495	277	1	miller	miller	PROPN
ajfa-3495	277	2	,	,	PUNCT
ajfa-3495	277	3	m.	m.	NOUN
ajfa-3495	277	4	(	(	PUNCT
ajfa-3495	277	5	1977	1977	NUM
ajfa-3495	277	6	)	)	PUNCT
ajfa-3495	277	7	.	.	PUNCT
ajfa-3495	278	1	debt	debt	NOUN
ajfa-3495	278	2	and	and	CCONJ
ajfa-3495	278	3	taxes	taxis	NOUN
ajfa-3495	278	4	.	.	PUNCT
ajfa-3495	279	1	journal	journal	NOUN
ajfa-3495	279	2	of	of	ADP
ajfa-3495	279	3	finance	finance	NOUN
ajfa-3495	279	4	,	,	PUNCT
ajfa-3495	279	5	32	32	NUM
ajfa-3495	279	6	,	,	PUNCT
ajfa-3495	279	7	261	261	NUM
ajfa-3495	279	8	-	-	SYM
ajfa-3495	279	9	275	275	NUM
ajfa-3495	279	10	.	.	PUNCT
ajfa-3495	280	1	modigliani	modigliani	PROPN
ajfa-3495	280	2	,	,	PUNCT
ajfa-3495	280	3	f.	f.	PROPN
ajfa-3495	280	4	and	and	CCONJ
ajfa-3495	280	5	miller	miller	PROPN
ajfa-3495	280	6	,	,	PUNCT
ajfa-3495	280	7	m.	m.	NOUN
ajfa-3495	280	8	(	(	PUNCT
ajfa-3495	280	9	1958	1958	NUM
ajfa-3495	280	10	)	)	PUNCT
ajfa-3495	280	11	.	.	PUNCT
ajfa-3495	281	1	the	the	DET
ajfa-3495	281	2	cost	cost	NOUN
ajfa-3495	281	3	of	of	ADP
ajfa-3495	281	4	capital	capital	NOUN
ajfa-3495	281	5	,	,	PUNCT
ajfa-3495	281	6	corporation	corporation	NOUN
ajfa-3495	281	7	finance	finance	NOUN
ajfa-3495	281	8	and	and	CCONJ
ajfa-3495	281	9	the	the	DET
ajfa-3495	281	10	theory	theory	NOUN
ajfa-3495	281	11	of	of	ADP
ajfa-3495	281	12	investment	investment	NOUN
ajfa-3495	281	13	.	.	PUNCT
ajfa-3495	282	1	american	american	PROPN
ajfa-3495	282	2	economic	economic	PROPN
ajfa-3495	282	3	review	review	PROPN
ajfa-3495	282	4	,	,	PUNCT
ajfa-3495	282	5	53	53	NUM
ajfa-3495	282	6	,	,	PUNCT
ajfa-3495	282	7	261	261	NUM
ajfa-3495	282	8	-	-	SYM
ajfa-3495	282	9	97	97	NUM
ajfa-3495	282	10	.	.	PUNCT
ajfa-3495	283	1	m.	m.	NOUN
ajfa-3495	283	2	a.	a.	PROPN
ajfa-3495	283	3	sayeed	sayeed	PROPN
ajfa-3495	283	4	.	.	PUNCT
ajfa-3495	284	1	(	(	PUNCT
ajfa-3495	284	2	2011	2011	NUM
ajfa-3495	284	3	)	)	PUNCT
ajfa-3495	284	4	.	.	PUNCT
ajfa-3495	285	1	the	the	DET
ajfa-3495	285	2	determinants	determinant	NOUN
ajfa-3495	285	3	of	of	ADP
ajfa-3495	285	4	capital	capital	NOUN
ajfa-3495	285	5	structure	structure	NOUN
ajfa-3495	285	6	for	for	ADP
ajfa-3495	285	7	selected	select	VERB
ajfa-3495	285	8	bangladeshi	bangladeshi	ADJ
ajfa-3495	285	9	listed	list	VERB
ajfa-3495	285	10	companies	company	NOUN
ajfa-3495	285	11	.	.	PUNCT
ajfa-3495	286	1	international	international	ADJ
ajfa-3495	286	2	review	review	NOUN
ajfa-3495	286	3	of	of	ADP
ajfa-3495	286	4	business	business	NOUN
ajfa-3495	286	5	research	research	NOUN
ajfa-3495	286	6	papers	paper	NOUN
ajfa-3495	286	7	,	,	PUNCT
ajfa-3495	286	8	7(2	7(2	NUM
ajfa-3495	286	9	)	)	PUNCT
ajfa-3495	286	10	,	,	PUNCT
ajfa-3495	286	11	21	21	NUM
ajfa-3495	286	12	-	-	SYM
ajfa-3495	286	13	36	36	NUM
ajfa-3495	286	14	.	.	PUNCT
ajfa-3495	286	15	mu.chowdhury	mu.chowdhury	PROPN
ajfa-3495	286	16	.	.	PUNCT
ajfa-3495	287	1	(	(	PUNCT
ajfa-3495	287	2	2004	2004	NUM
ajfa-3495	287	3	)	)	PUNCT
ajfa-3495	287	4	.	.	PUNCT
ajfa-3495	288	1	capital	capital	NOUN
ajfa-3495	288	2	structure	structure	NOUN
ajfa-3495	288	3	determinants	determinant	NOUN
ajfa-3495	288	4	:	:	PUNCT
ajfa-3495	288	5	evidence	evidence	NOUN
ajfa-3495	288	6	from	from	ADP
ajfa-3495	288	7	japan	japan	PROPN
ajfa-3495	288	8	&	&	CCONJ
ajfa-3495	288	9	bangladesh	bangladesh	PROPN
ajfa-3495	288	10	.	.	PUNCT
ajfa-3495	289	1	journal	journal	PROPN
ajfa-3495	289	2	of	of	ADP
ajfa-3495	289	3	business	business	NOUN
ajfa-3495	289	4	studies	study	NOUN
ajfa-3495	289	5	,	,	PUNCT
ajfa-3495	289	6	xxv(1	xxv(1	NUM
ajfa-3495	289	7	)	)	PUNCT
ajfa-3495	289	8	,	,	PUNCT
ajfa-3495	289	9	23	23	NUM
ajfa-3495	289	10	-	-	SYM
ajfa-3495	289	11	45	45	NUM
ajfa-3495	289	12	.	.	PUNCT
ajfa-3495	290	1	myers	myers	PROPN
ajfa-3495	290	2	,	,	PUNCT
ajfa-3495	290	3	s.	s.	PROPN
ajfa-3495	290	4	(	(	PUNCT
ajfa-3495	290	5	1984	1984	NUM
ajfa-3495	290	6	)	)	PUNCT
ajfa-3495	290	7	.	.	PUNCT
ajfa-3495	291	1	the	the	DET
ajfa-3495	291	2	capital	capital	NOUN
ajfa-3495	291	3	structure	structure	NOUN
ajfa-3495	291	4	puzzle	puzzle	NOUN
ajfa-3495	291	5	.	.	PUNCT
ajfa-3495	292	1	journal	journal	NOUN
ajfa-3495	292	2	of	of	ADP
ajfa-3495	292	3	finance	finance	NOUN
ajfa-3495	292	4	,	,	PUNCT
ajfa-3495	292	5	39	39	NUM
ajfa-3495	292	6	,	,	PUNCT
ajfa-3495	292	7	575	575	NUM
ajfa-3495	292	8	-	-	SYM
ajfa-3495	292	9	92	92	NUM
ajfa-3495	292	10	.	.	PUNCT
ajfa-3495	293	1	http://dx.doi.org/10.2307/2327916	http://dx.doi.org/10.2307/2327916	ADJ
ajfa-3495	293	2	asian	asian	ADJ
ajfa-3495	293	3	journal	journal	PROPN
ajfa-3495	293	4	of	of	ADP
ajfa-3495	293	5	finance	finance	PROPN
ajfa-3495	293	6	&	&	CCONJ
ajfa-3495	293	7	accounting	accounting	PROPN
ajfa-3495	293	8	issn	issn	PROPN
ajfa-3495	293	9	1946	1946	NUM
ajfa-3495	293	10	-	-	PUNCT
ajfa-3495	293	11	052x	052x	NOUN
ajfa-3495	293	12	2013	2013	NUM
ajfa-3495	293	13	,	,	PUNCT
ajfa-3495	293	14	vol	vol	NOUN
ajfa-3495	293	15	.	.	PROPN
ajfa-3495	293	16	5	5	NUM
ajfa-3495	293	17	,	,	PUNCT
ajfa-3495	293	18	no	no	INTJ
ajfa-3495	293	19	.	.	NOUN
ajfa-3495	293	20	1	1	NUM
ajfa-3495	293	21	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-3495	293	22	333	333	NUM
ajfa-3495	293	23	myers	myer	NOUN
ajfa-3495	293	24	,	,	PUNCT
ajfa-3495	293	25	s.	s.	PROPN
ajfa-3495	293	26	and	and	CCONJ
ajfa-3495	293	27	majluf	majluf	PROPN
ajfa-3495	293	28	,	,	PUNCT
ajfa-3495	293	29	n.	n.	NOUN
ajfa-3495	293	30	(	(	PUNCT
ajfa-3495	293	31	1984	1984	NUM
ajfa-3495	293	32	)	)	PUNCT
ajfa-3495	293	33	.	.	PUNCT
ajfa-3495	294	1	corporate	corporate	ADJ
ajfa-3495	294	2	financing	financing	NOUN
ajfa-3495	294	3	and	and	CCONJ
ajfa-3495	294	4	investment	investment	NOUN
ajfa-3495	294	5	decisions	decision	NOUN
ajfa-3495	294	6	when	when	SCONJ
ajfa-3495	294	7	firms	firm	NOUN
ajfa-3495	294	8	have	have	VERB
ajfa-3495	294	9	information	information	NOUN
ajfa-3495	294	10	that	that	SCONJ
ajfa-3495	294	11	investors	investor	NOUN
ajfa-3495	294	12	do	do	AUX
ajfa-3495	294	13	not	not	PART
ajfa-3495	294	14	have	have	VERB
ajfa-3495	294	15	.	.	PUNCT
ajfa-3495	295	1	journal	journal	NOUN
ajfa-3495	295	2	of	of	ADP
ajfa-3495	295	3	financial	financial	ADJ
ajfa-3495	295	4	economics	economic	NOUN
ajfa-3495	295	5	,	,	PUNCT
ajfa-3495	295	6	13	13	NUM
ajfa-3495	295	7	,	,	PUNCT
ajfa-3495	295	8	187	187	NUM
ajfa-3495	295	9	-	-	SYM
ajfa-3495	295	10	221	221	NUM
ajfa-3495	295	11	.	.	PUNCT
ajfa-3495	296	1	http://dx.doi.org/10.1016/0304-405x(84)90023-0	http://dx.doi.org/10.1016/0304-405x(84)90023-0	NOUN
ajfa-3495	296	2	nofsinger	nofsinger	NOUN
ajfa-3495	296	3	,	,	PUNCT
ajfa-3495	296	4	j.	j.	PROPN
ajfa-3495	296	5	(	(	PUNCT
ajfa-3495	296	6	2005	2005	NUM
ajfa-3495	296	7	)	)	PUNCT
ajfa-3495	296	8	.	.	PUNCT
ajfa-3495	297	1	the	the	DET
ajfa-3495	297	2	psychology	psychology	NOUN
ajfa-3495	297	3	of	of	ADP
ajfa-3495	297	4	investing	investing	PROPN
ajfa-3495	297	5	,	,	PUNCT
ajfa-3495	297	6	pearson	pearson	PROPN
ajfa-3495	297	7	education	education	NOUN
ajfa-3495	297	8	-	-	PUNCT
ajfa-3495	297	9	prentice	prentice	NOUN
ajfa-3495	297	10	hall	hall	NOUN
ajfa-3495	297	11	,	,	PUNCT
ajfa-3495	297	12	new	new	PROPN
ajfa-3495	297	13	jersey	jersey	PROPN
ajfa-3495	297	14	,	,	PUNCT
ajfa-3495	297	15	usa	usa	PROPN
ajfa-3495	297	16	.	.	PROPN
ajfa-3495	297	17	oliver	oliver	PROPN
ajfa-3495	297	18	,	,	PUNCT
ajfa-3495	297	19	b.	b.	PROPN
ajfa-3495	297	20	(	(	PUNCT
ajfa-3495	297	21	2006	2006	NUM
ajfa-3495	297	22	)	)	PUNCT
ajfa-3495	297	23	.	.	PUNCT
ajfa-3495	298	1	management	management	NOUN
ajfa-3495	298	2	confidence	confidence	NOUN
ajfa-3495	298	3	and	and	CCONJ
ajfa-3495	298	4	capital	capital	NOUN
ajfa-3495	298	5	structure	structure	NOUN
ajfa-3495	298	6	,	,	PUNCT
ajfa-3495	298	7	paper	paper	NOUN
ajfa-3495	298	8	presented	present	VERB
ajfa-3495	298	9	at	at	ADP
ajfa-3495	298	10	the	the	DET
ajfa-3495	298	11	aaanz	aaanz	PROPN
ajfa-3495	298	12	and	and	CCONJ
ajfa-3495	298	13	asia	asia	PROPN
ajfa-3495	298	14	finance	finance	PROPN
ajfa-3495	298	15	association	association	NOUN
ajfa-3495	298	16	conferences	conference	NOUN
ajfa-3495	298	17	in	in	ADP
ajfa-3495	298	18	new	new	PROPN
ajfa-3495	298	19	zealand	zealand	PROPN
ajfa-3495	298	20	.	.	PUNCT
ajfa-3495	299	1	working	work	VERB
ajfa-3495	299	2	paper	paper	NOUN
ajfa-3495	299	3	,	,	PUNCT
ajfa-3495	299	4	school	school	NOUN
ajfa-3495	299	5	of	of	ADP
ajfa-3495	299	6	finance	finance	NOUN
ajfa-3495	299	7	and	and	CCONJ
ajfa-3495	299	8	applied	apply	VERB
ajfa-3495	299	9	statistics	statistic	NOUN
ajfa-3495	299	10	,	,	PUNCT
ajfa-3495	299	11	australian	australian	ADJ
ajfa-3495	299	12	national	national	PROPN
ajfa-3495	299	13	university	university	PROPN
ajfa-3495	299	14	,	,	PUNCT
ajfa-3495	299	15	canberra	canberra	PROPN
ajfa-3495	299	16	australia	australia	PROPN
ajfa-3495	299	17	.	.	PUNCT
ajfa-3495	300	1	qui	qui	PROPN
ajfa-3495	300	2	,	,	PUNCT
ajfa-3495	300	3	l.	l.	PROPN
ajfa-3495	300	4	and	and	CCONJ
ajfa-3495	300	5	welch	welch	PROPN
ajfa-3495	300	6	,	,	PUNCT
ajfa-3495	300	7	i.	i.	PROPN
ajfa-3495	300	8	(	(	PUNCT
ajfa-3495	300	9	2004	2004	NUM
ajfa-3495	300	10	)	)	PUNCT
ajfa-3495	300	11	.	.	PUNCT
ajfa-3495	301	1	investor	investor	NOUN
ajfa-3495	301	2	sentiment	sentiment	NOUN
ajfa-3495	301	3	measures	measure	NOUN
ajfa-3495	301	4	,	,	PUNCT
ajfa-3495	301	5	nber	nber	PROPN
ajfa-3495	301	6	working	working	PROPN
ajfa-3495	301	7	paper	paper	PROPN
ajfa-3495	301	8	w10794	w10794	PROPN
ajfa-3495	301	9	.	.	PUNCT
ajfa-3495	302	1	rajan	rajan	PROPN
ajfa-3495	302	2	,	,	PUNCT
ajfa-3495	302	3	r.	r.	PROPN
ajfa-3495	302	4	and	and	CCONJ
ajfa-3495	302	5	zingales	zingales	PROPN
ajfa-3495	302	6	,	,	PUNCT
ajfa-3495	302	7	l.	l.	PROPN
ajfa-3495	302	8	(	(	PUNCT
ajfa-3495	302	9	1995	1995	NUM
ajfa-3495	302	10	)	)	PUNCT
ajfa-3495	302	11	.	.	PUNCT
ajfa-3495	303	1	what	what	PRON
ajfa-3495	303	2	do	do	AUX
ajfa-3495	303	3	we	we	PRON
ajfa-3495	303	4	know	know	VERB
ajfa-3495	303	5	about	about	ADP
ajfa-3495	303	6	capital	capital	NOUN
ajfa-3495	303	7	structure	structure	NOUN
ajfa-3495	303	8	?	?	PUNCT
ajfa-3495	304	1	some	some	DET
ajfa-3495	304	2	evidence	evidence	NOUN
ajfa-3495	304	3	from	from	ADP
ajfa-3495	304	4	international	international	ADJ
ajfa-3495	304	5	data	datum	NOUN
ajfa-3495	304	6	.	.	PUNCT
ajfa-3495	305	1	journal	journal	PROPN
ajfa-3495	305	2	of	of	ADP
ajfa-3495	305	3	finance	finance	NOUN
ajfa-3495	305	4	,	,	PUNCT
ajfa-3495	305	5	50	50	NUM
ajfa-3495	305	6	,	,	PUNCT
ajfa-3495	305	7	1421	1421	NUM
ajfa-3495	305	8	-	-	SYM
ajfa-3495	305	9	1460	1460	NUM
ajfa-3495	305	10	.	.	PUNCT
ajfa-3495	306	1	http://dx.doi.org/10.1111/j.1540-6261.1995.tb05184.x	http://dx.doi.org/10.1111/j.1540-6261.1995.tb05184.x	PROPN
ajfa-3495	306	2	roger	roger	PROPN
ajfa-3495	306	3	,	,	PUNCT
ajfa-3495	306	4	f.	f.	PROPN
ajfa-3495	306	5	(	(	PUNCT
ajfa-3495	306	6	2006	2006	NUM
ajfa-3495	306	7	)	)	PUNCT
ajfa-3495	306	8	.	.	PUNCT
ajfa-3495	307	1	structure	structure	NOUN
ajfa-3495	307	2	d'endettement	d'endettement	PROPN
ajfa-3495	307	3	et	et	PROPN
ajfa-3495	307	4	development	development	PROPN
ajfa-3495	307	5	des	des	PROPN
ajfa-3495	307	6	enterprise	enterprise	NOUN
ajfa-3495	307	7	francaises	francaise	NOUN
ajfa-3495	307	8	.	.	PUNCT
ajfa-3495	308	1	eclairages	eclairage	NOUN
ajfa-3495	308	2	recherche	recherche	X
ajfa-3495	308	3	,	,	PUNCT
ajfa-3495	308	4	3	3	NUM
ajfa-3495	308	5	,	,	PUNCT
ajfa-3495	308	6	1	1	NUM
ajfa-3495	308	7	-	-	SYM
ajfa-3495	308	8	13	13	NUM
ajfa-3495	308	9	.	.	PUNCT
ajfa-3495	309	1	s.	s.	PROPN
ajfa-3495	309	2	akhtar	akhtar	PROPN
ajfa-3495	309	3	and	and	CCONJ
ajfa-3495	309	4	b.	b.	PROPN
ajfa-3495	309	5	oliver	oliver	PROPN
ajfa-3495	309	6	.	.	PUNCT
ajfa-3495	310	1	(	(	PUNCT
ajfa-3495	310	2	2009	2009	NUM
ajfa-3495	310	3	)	)	PUNCT
ajfa-3495	310	4	.	.	PUNCT
ajfa-3495	311	1	determinants	determinant	NOUN
ajfa-3495	311	2	of	of	ADP
ajfa-3495	311	3	capital	capital	NOUN
ajfa-3495	311	4	structure	structure	NOUN
ajfa-3495	311	5	for	for	ADP
ajfa-3495	311	6	japanese	japanese	ADJ
ajfa-3495	311	7	multinational	multinational	ADJ
ajfa-3495	311	8	and	and	CCONJ
ajfa-3495	311	9	domestic	domestic	ADJ
ajfa-3495	311	10	corporations	corporation	NOUN
ajfa-3495	311	11	.	.	PUNCT
ajfa-3495	312	1	international	international	ADJ
ajfa-3495	312	2	review	review	NOUN
ajfa-3495	312	3	of	of	ADP
ajfa-3495	312	4	finance	finance	NOUN
ajfa-3495	312	5	,	,	PUNCT
ajfa-3495	312	6	9	9	NUM
ajfa-3495	312	7	,	,	PUNCT
ajfa-3495	312	8	1	1	NUM
ajfa-3495	312	9	-	-	SYM
ajfa-3495	312	10	26	26	NUM
ajfa-3495	312	11	.	.	PUNCT
ajfa-3495	313	1	http://dx.doi.org/10.1111/j.1468-2443.2009.01083.x	http://dx.doi.org/10.1111/j.1468-2443.2009.01083.x	PROPN
ajfa-3495	313	2	s.p	s.p	PROPN
ajfa-3495	313	3	.	.	PROPN
ajfa-3495	313	4	chowdhury	chowdhury	PROPN
ajfa-3495	313	5	and	and	CCONJ
ajfa-3495	313	6	a.	a.	PROPN
ajfa-3495	313	7	chowdhury	chowdhury	PROPN
ajfa-3495	313	8	.	.	PUNCT
ajfa-3495	314	1	(	(	PUNCT
ajfa-3495	314	2	2010	2010	NUM
ajfa-3495	314	3	)	)	PUNCT
ajfa-3495	314	4	.	.	PUNCT
ajfa-3495	315	1	impact	impact	NOUN
ajfa-3495	315	2	of	of	ADP
ajfa-3495	315	3	capital	capital	NOUN
ajfa-3495	315	4	structure	structure	NOUN
ajfa-3495	315	5	on	on	ADP
ajfa-3495	315	6	firm	firm	NOUN
ajfa-3495	315	7	's	's	PART
ajfa-3495	315	8	value	value	NOUN
ajfa-3495	315	9	:	:	PUNCT
ajfa-3495	315	10	evidence	evidence	NOUN
ajfa-3495	315	11	from	from	ADP
ajfa-3495	315	12	bangladesh	bangladesh	PROPN
ajfa-3495	315	13	"	"	PUNCT
ajfa-3495	315	14	,	,	PUNCT
ajfa-3495	315	15	business	business	NOUN
ajfa-3495	315	16	and	and	CCONJ
ajfa-3495	315	17	economic	economic	ADJ
ajfa-3495	315	18	horizons	horizon	NOUN
ajfa-3495	315	19	,	,	PUNCT
ajfa-3495	315	20	3(3	3(3	NUM
ajfa-3495	315	21	)	)	PUNCT
ajfa-3495	315	22	,	,	PUNCT
ajfa-3495	315	23	111	111	NUM
ajfa-3495	315	24	-	-	SYM
ajfa-3495	315	25	122	122	NUM
ajfa-3495	315	26	.	.	PUNCT
ajfa-3495	316	1	sraer	sraer	PROPN
ajfa-3495	316	2	,	,	PUNCT
ajfa-3495	316	3	d.	d.	PROPN
ajfa-3495	316	4	and	and	CCONJ
ajfa-3495	316	5	thesmar	thesmar	PROPN
ajfa-3495	316	6	,	,	PUNCT
ajfa-3495	316	7	d.	d.	PROPN
ajfa-3495	316	8	,	,	PUNCT
ajfa-3495	316	9	2006	2006	NUM
ajfa-3495	316	10	,	,	PUNCT
ajfa-3495	316	11	performance	performance	NOUN
ajfa-3495	316	12	and	and	CCONJ
ajfa-3495	316	13	behavior	behavior	NOUN
ajfa-3495	316	14	of	of	ADP
ajfa-3495	316	15	family	family	NOUN
ajfa-3495	316	16	firms	firm	NOUN
ajfa-3495	316	17	-	-	PUNCT
ajfa-3495	316	18	evidence	evidence	NOUN
ajfa-3495	316	19	from	from	ADP
ajfa-3495	316	20	the	the	DET
ajfa-3495	316	21	french	french	ADJ
ajfa-3495	316	22	stock	stock	NOUN
ajfa-3495	316	23	market	market	NOUN
ajfa-3495	316	24	,	,	PUNCT
ajfa-3495	316	25	egci	egci	ADJ
ajfa-3495	316	26	finance	finance	NOUN
ajfa-3495	316	27	,	,	PUNCT
ajfa-3495	316	28	working	work	VERB
ajfa-3495	316	29	paper	paper	NOUN
ajfa-3495	316	30	no	no	DET
ajfa-3495	316	31	130/2006	130/2006	NUM
ajfa-3495	316	32	.	.	PUNCT
ajfa-3495	317	1	shyam	shyam	NOUN
ajfa-3495	317	2	-	-	PUNCT
ajfa-3495	317	3	sunder	sunder	PROPN
ajfa-3495	317	4	,	,	PUNCT
ajfa-3495	317	5	l.	l.	PROPN
ajfa-3495	317	6	and	and	CCONJ
ajfa-3495	317	7	myers	myers	PROPN
ajfa-3495	317	8	,	,	PUNCT
ajfa-3495	317	9	s.	s.	PROPN
ajfa-3495	317	10	(	(	PUNCT
ajfa-3495	317	11	1999	1999	NUM
ajfa-3495	317	12	)	)	PUNCT
ajfa-3495	317	13	.	.	PUNCT
ajfa-3495	318	1	testing	test	VERB
ajfa-3495	318	2	static	static	ADJ
ajfa-3495	318	3	tradeoff	tradeoff	NOUN
ajfa-3495	318	4	against	against	ADP
ajfa-3495	318	5	pecking	pecking	NOUN
ajfa-3495	318	6	order	order	NOUN
ajfa-3495	318	7	models	model	NOUN
ajfa-3495	318	8	of	of	ADP
ajfa-3495	318	9	capital	capital	NOUN
ajfa-3495	318	10	structure	structure	NOUN
ajfa-3495	318	11	.	.	PUNCT
ajfa-3495	319	1	journal	journal	NOUN
ajfa-3495	319	2	of	of	ADP
ajfa-3495	319	3	financial	financial	ADJ
ajfa-3495	319	4	economics	economic	NOUN
ajfa-3495	319	5	51	51	NUM
ajfa-3495	319	6	,	,	PUNCT
ajfa-3495	319	7	219	219	NUM
ajfa-3495	319	8	-	-	SYM
ajfa-3495	319	9	244	244	NUM
ajfa-3495	319	10	.	.	PUNCT
ajfa-3495	320	1	http://dx.doi.org/10.1016/s0304-405x	http://dx.doi.org/10.1016/s0304-405x	NOUN
ajfa-3495	320	2	(	(	PUNCT
ajfa-3495	320	3	98)00051	98)00051	NUM
ajfa-3495	320	4	-	-	SYM
ajfa-3495	320	5	8	8	NUM
ajfa-3495	320	6	ziane	ziane	NOUN
ajfa-3495	320	7	,	,	PUNCT
ajfa-3495	320	8	y.	y.	PROPN
ajfa-3495	320	9	(	(	PUNCT
ajfa-3495	320	10	2004	2004	NUM
ajfa-3495	320	11	)	)	PUNCT
ajfa-3495	320	12	.	.	PUNCT
ajfa-3495	321	1	la	la	DET
ajfa-3495	321	2	stucture	stucture	PROPN
ajfa-3495	321	3	d'endettement	d'endettement	PROPN
ajfa-3495	321	4	des	des	PROPN
ajfa-3495	321	5	petites	petite	NOUN
ajfa-3495	321	6	et	et	PROPN
ajfa-3495	321	7	moyennes	moyennes	PROPN
ajfa-3495	321	8	enterprises	enterprise	NOUN
ajfa-3495	321	9	francias	francia	VERB
ajfa-3495	321	10	:	:	PUNCT
ajfa-3495	321	11	uneetude	uneetude	ADJ
ajfa-3495	321	12	sur	sur	PROPN
ajfa-3495	321	13	donnees	donnees	PROPN
ajfa-3495	321	14	de	de	X
ajfa-3495	321	15	panel	panel	NOUN
ajfa-3495	321	16	,	,	PUNCT
ajfa-3495	321	17	review	review	VERB
ajfa-3495	321	18	internationale	internationale	PROPN
ajfa-3495	321	19	pme	pme	PROPN
ajfa-3495	321	20	,	,	PUNCT
ajfa-3495	321	21	17(1	17(1	NUM
ajfa-3495	321	22	)	)	PUNCT
ajfa-3495	321	23	,	,	PUNCT
ajfa-3495	321	24	123	123	NUM
ajfa-3495	321	25	-	-	SYM
ajfa-3495	321	26	128	128	NUM
ajfa-3495	321	27	.	.	PUNCT