id	sid	tid	token	lemma	pos
ajfa-6133	1	1	microsoft	microsoft	PROPN
ajfa-6133	1	2	word	word	NOUN
ajfa-6133	1	3	6133-22048-1-sm-writer2-new.doc	6133-22048-1-sm-writer2-new.doc	NUM
ajfa-6133	1	4	asian	asian	ADJ
ajfa-6133	1	5	journal	journal	NOUN
ajfa-6133	1	6	of	of	ADP
ajfa-6133	1	7	finance	finance	PROPN
ajfa-6133	1	8	&	&	CCONJ
ajfa-6133	1	9	accounting	accounting	PROPN
ajfa-6133	1	10	issn	issn	PROPN
ajfa-6133	1	11	1946	1946	NUM
ajfa-6133	1	12	-	-	PUNCT
ajfa-6133	1	13	052x	052x	PROPN
ajfa-6133	1	14	2014	2014	NUM
ajfa-6133	1	15	,	,	PUNCT
ajfa-6133	1	16	vol	vol	NOUN
ajfa-6133	1	17	.	.	PROPN
ajfa-6133	1	18	6	6	NUM
ajfa-6133	1	19	,	,	PUNCT
ajfa-6133	1	20	no	no	INTJ
ajfa-6133	1	21	.	.	NOUN
ajfa-6133	1	22	2	2	NUM
ajfa-6133	1	23	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-6133	1	24	142	142	NUM
ajfa-6133	1	25	accounting	accounting	NOUN
ajfa-6133	1	26	disclosure	disclosure	NOUN
ajfa-6133	1	27	,	,	PUNCT
ajfa-6133	1	28	governance	governance	NOUN
ajfa-6133	1	29	standards	standard	NOUN
ajfa-6133	1	30	and	and	CCONJ
ajfa-6133	1	31	innovation	innovation	NOUN
ajfa-6133	1	32	activities	activity	NOUN
ajfa-6133	1	33	in	in	ADP
ajfa-6133	1	34	emerging	emerge	VERB
ajfa-6133	1	35	markets	market	NOUN
ajfa-6133	1	36	zhenxiang	zhenxiang	PROPN
ajfa-6133	1	37	chen	chen	PROPN
ajfa-6133	1	38	wuhan	wuhan	PROPN
ajfa-6133	1	39	yangtze	yangtze	PROPN
ajfa-6133	1	40	business	business	PROPN
ajfa-6133	1	41	university	university	PROPN
ajfa-6133	1	42	3	3	NUM
ajfa-6133	1	43	,	,	PUNCT
ajfa-6133	1	44	huangjiawu	huangjiawu	PROPN
ajfa-6133	1	45	west	west	PROPN
ajfa-6133	1	46	road	road	PROPN
ajfa-6133	1	47	,	,	PUNCT
ajfa-6133	1	48	hongshan	hongshan	PROPN
ajfa-6133	1	49	district	district	PROPN
ajfa-6133	1	50	,	,	PUNCT
ajfa-6133	1	51	wuhan	wuhan	PROPN
ajfa-6133	1	52	,	,	PUNCT
ajfa-6133	1	53	hubei	hubei	PROPN
ajfa-6133	1	54	430065	430065	NUM
ajfa-6133	1	55	,	,	PUNCT
ajfa-6133	1	56	china	china	PROPN
ajfa-6133	1	57	e	e	PROPN
ajfa-6133	1	58	-	-	NOUN
ajfa-6133	1	59	mail	mail	NOUN
ajfa-6133	1	60	:	:	PUNCT
ajfa-6133	1	61	541922306@qq.com	541922306@qq.com	NUM
ajfa-6133	1	62	ming	ming	PROPN
ajfa-6133	1	63	li	li	PROPN
ajfa-6133	1	64	(	(	PUNCT
ajfa-6133	1	65	corresponding	corresponding	ADJ
ajfa-6133	1	66	author	author	NOUN
ajfa-6133	1	67	)	)	PUNCT
ajfa-6133	1	68	wuhan	wuhan	PROPN
ajfa-6133	1	69	yangtze	yangtze	PROPN
ajfa-6133	1	70	business	business	PROPN
ajfa-6133	1	71	university	university	PROPN
ajfa-6133	1	72	3	3	NUM
ajfa-6133	1	73	,	,	PUNCT
ajfa-6133	1	74	huangjiawu	huangjiawu	PROPN
ajfa-6133	1	75	west	west	PROPN
ajfa-6133	1	76	road	road	PROPN
ajfa-6133	1	77	,	,	PUNCT
ajfa-6133	1	78	hongshan	hongshan	PROPN
ajfa-6133	1	79	district	district	PROPN
ajfa-6133	1	80	,	,	PUNCT
ajfa-6133	1	81	wuhan	wuhan	PROPN
ajfa-6133	1	82	,	,	PUNCT
ajfa-6133	1	83	hubei	hubei	PROPN
ajfa-6133	1	84	430065	430065	NUM
ajfa-6133	1	85	,	,	PUNCT
ajfa-6133	1	86	china	china	PROPN
ajfa-6133	1	87	e	e	PROPN
ajfa-6133	1	88	-	-	NOUN
ajfa-6133	1	89	mail	mail	NOUN
ajfa-6133	1	90	:	:	PUNCT
ajfa-6133	1	91	36010526@qq.com	36010526@qq.com	NUM
ajfa-6133	1	92	liang	liang	PROPN
ajfa-6133	1	93	song	song	PROPN
ajfa-6133	1	94	michigan	michigan	PROPN
ajfa-6133	1	95	technological	technological	PROPN
ajfa-6133	1	96	university	university	PROPN
ajfa-6133	1	97	1400	1400	NUM
ajfa-6133	1	98	townsend	townsend	PROPN
ajfa-6133	1	99	drive	drive	PROPN
ajfa-6133	1	100	,	,	PUNCT
ajfa-6133	1	101	houghton	houghton	PROPN
ajfa-6133	1	102	,	,	PUNCT
ajfa-6133	1	103	mi	mi	PROPN
ajfa-6133	1	104	49931	49931	NUM
ajfa-6133	1	105	,	,	PUNCT
ajfa-6133	1	106	united	united	PROPN
ajfa-6133	1	107	states	states	PROPN
ajfa-6133	1	108	e	e	PROPN
ajfa-6133	1	109	-	-	NOUN
ajfa-6133	1	110	mail	mail	NOUN
ajfa-6133	1	111	:	:	PUNCT
ajfa-6133	1	112	liangs@mtu.edu	liangs@mtu.edu	PROPN
ajfa-6133	1	113	yanan	yanan	PROPN
ajfa-6133	1	114	xing	xing	PROPN
ajfa-6133	1	115	huaxin	huaxin	PROPN
ajfa-6133	1	116	trust	trust	PROPN
ajfa-6133	1	117	co.	co.	PROPN
ajfa-6133	1	118	,	,	PUNCT
ajfa-6133	1	119	ltd	ltd	PROPN
ajfa-6133	1	120	.	.	PROPN
ajfa-6133	1	121	34	34	NUM
ajfa-6133	1	122	dagong	dagong	PROPN
ajfa-6133	1	123	st	st	PROPN
ajfa-6133	1	124	,	,	PUNCT
ajfa-6133	1	125	xigang	xigang	PROPN
ajfa-6133	1	126	,	,	PUNCT
ajfa-6133	1	127	dalian	dalian	PROPN
ajfa-6133	1	128	,	,	PUNCT
ajfa-6133	1	129	liaoning	liaoning	PROPN
ajfa-6133	1	130	,	,	PUNCT
ajfa-6133	1	131	china	china	PROPN
ajfa-6133	1	132	,	,	PUNCT
ajfa-6133	1	133	116011	116011	NUM
ajfa-6133	1	134	e	e	NOUN
ajfa-6133	1	135	-	-	NOUN
ajfa-6133	1	136	mail	mail	NOUN
ajfa-6133	1	137	:	:	PUNCT
ajfa-6133	1	138	82272933@qq.com	82272933@qq.com	NUM
ajfa-6133	1	139	zhaoguo	zhaoguo	PROPN
ajfa-6133	1	140	zhang	zhang	PROPN
ajfa-6133	1	141	huazhong	huazhong	PROPN
ajfa-6133	1	142	university	university	PROPN
ajfa-6133	1	143	of	of	ADP
ajfa-6133	1	144	science	science	NOUN
ajfa-6133	1	145	and	and	CCONJ
ajfa-6133	1	146	technology	technology	NOUN
ajfa-6133	1	147	1037	1037	NUM
ajfa-6133	1	148	luoyu	luoyu	PROPN
ajfa-6133	1	149	road	road	NOUN
ajfa-6133	1	150	,	,	PUNCT
ajfa-6133	1	151	wuhan	wuhan	PROPN
ajfa-6133	1	152	,	,	PUNCT
ajfa-6133	1	153	hubei	hubei	PROPN
ajfa-6133	1	154	430065	430065	NUM
ajfa-6133	1	155	,	,	PUNCT
ajfa-6133	1	156	china	china	PROPN
ajfa-6133	1	157	e	e	PROPN
ajfa-6133	1	158	-	-	NOUN
ajfa-6133	1	159	mail	mail	NOUN
ajfa-6133	1	160	:	:	PUNCT
ajfa-6133	1	161	xuehai0225@126.com	xuehai0225@126.com	X
ajfa-6133	1	162	asian	asian	PROPN
ajfa-6133	1	163	journal	journal	PROPN
ajfa-6133	1	164	of	of	ADP
ajfa-6133	1	165	finance	finance	PROPN
ajfa-6133	1	166	&	&	CCONJ
ajfa-6133	1	167	accounting	accounting	PROPN
ajfa-6133	1	168	issn	issn	PROPN
ajfa-6133	1	169	1946	1946	NUM
ajfa-6133	1	170	-	-	PUNCT
ajfa-6133	1	171	052x	052x	PROPN
ajfa-6133	1	172	2014	2014	NUM
ajfa-6133	1	173	,	,	PUNCT
ajfa-6133	1	174	vol	vol	NOUN
ajfa-6133	1	175	.	.	PROPN
ajfa-6133	2	1	6	6	NUM
ajfa-6133	2	2	,	,	PUNCT
ajfa-6133	2	3	no	no	INTJ
ajfa-6133	2	4	.	.	NOUN
ajfa-6133	2	5	2	2	NUM
ajfa-6133	2	6	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-6133	2	7	143	143	NUM
ajfa-6133	2	8	received	receive	VERB
ajfa-6133	2	9	:	:	PUNCT
ajfa-6133	2	10	april	april	PROPN
ajfa-6133	2	11	13	13	NUM
ajfa-6133	2	12	,	,	PUNCT
ajfa-6133	2	13	2014	2014	NUM
ajfa-6133	2	14	accepted	accept	VERB
ajfa-6133	2	15	:	:	PUNCT
ajfa-6133	3	1	sep	sep	PROPN
ajfa-6133	3	2	.	.	PROPN
ajfa-6133	3	3	24	24	NUM
ajfa-6133	3	4	,	,	PUNCT
ajfa-6133	3	5	2014	2014	NUM
ajfa-6133	3	6	published	publish	VERB
ajfa-6133	3	7	:	:	PUNCT
ajfa-6133	3	8	december	december	PROPN
ajfa-6133	3	9	1	1	NUM
ajfa-6133	3	10	,	,	PUNCT
ajfa-6133	3	11	2014	2014	NUM
ajfa-6133	3	12	doi:10.5296	doi:10.5296	NOUN
ajfa-6133	3	13	/	/	SYM
ajfa-6133	3	14	ajfa.v6i2.6133	ajfa.v6i2.6133	NUM
ajfa-6133	3	15	url	url	PROPN
ajfa-6133	3	16	:	:	PUNCT
ajfa-6133	3	17	http://dx.doi.org/10.5296/ajfa.v6i2.6133	http://dx.doi.org/10.5296/ajfa.v6i2.6133	PROPN
ajfa-6133	3	18	abstract	abstract	NOUN
ajfa-6133	3	19	we	we	PRON
ajfa-6133	3	20	investigate	investigate	VERB
ajfa-6133	3	21	how	how	SCONJ
ajfa-6133	3	22	investor	investor	NOUN
ajfa-6133	3	23	protection	protection	NOUN
ajfa-6133	3	24	resulted	result	VERB
ajfa-6133	3	25	from	from	ADP
ajfa-6133	3	26	country	country	NOUN
ajfa-6133	3	27	-	-	PUNCT
ajfa-6133	3	28	level	level	NOUN
ajfa-6133	3	29	and	and	CCONJ
ajfa-6133	3	30	firm	firm	ADJ
ajfa-6133	3	31	-	-	PUNCT
ajfa-6133	3	32	level	level	NOUN
ajfa-6133	3	33	governance	governance	NOUN
ajfa-6133	3	34	standards	standard	NOUN
ajfa-6133	3	35	influence	influence	VERB
ajfa-6133	3	36	the	the	DET
ajfa-6133	3	37	relationship	relationship	NOUN
ajfa-6133	3	38	between	between	ADP
ajfa-6133	3	39	market	market	NOUN
ajfa-6133	3	40	disciplines	discipline	NOUN
ajfa-6133	3	41	resulted	result	VERB
ajfa-6133	3	42	from	from	ADP
ajfa-6133	3	43	firm	firm	ADJ
ajfa-6133	3	44	-	-	PUNCT
ajfa-6133	3	45	level	level	NOUN
ajfa-6133	3	46	accounting	accounting	NOUN
ajfa-6133	3	47	disclosure	disclosure	NOUN
ajfa-6133	3	48	and	and	CCONJ
ajfa-6133	3	49	innovation	innovation	NOUN
ajfa-6133	3	50	activities	activity	NOUN
ajfa-6133	3	51	.	.	PUNCT
ajfa-6133	4	1	employing	employ	VERB
ajfa-6133	4	2	a	a	DET
ajfa-6133	4	3	sample	sample	NOUN
ajfa-6133	4	4	across	across	ADP
ajfa-6133	4	5	14	14	NUM
ajfa-6133	4	6	emerging	emerge	VERB
ajfa-6133	4	7	markets	market	NOUN
ajfa-6133	4	8	,	,	PUNCT
ajfa-6133	4	9	evidence	evidence	NOUN
ajfa-6133	4	10	confirms	confirm	VERB
ajfa-6133	4	11	that	that	SCONJ
ajfa-6133	4	12	the	the	DET
ajfa-6133	4	13	effects	effect	NOUN
ajfa-6133	4	14	of	of	ADP
ajfa-6133	4	15	firm	firm	ADJ
ajfa-6133	4	16	-	-	PUNCT
ajfa-6133	4	17	level	level	NOUN
ajfa-6133	4	18	accounting	accounting	NOUN
ajfa-6133	4	19	disclosure	disclosure	NOUN
ajfa-6133	4	20	on	on	ADP
ajfa-6133	4	21	innovation	innovation	NOUN
ajfa-6133	4	22	activities	activity	NOUN
ajfa-6133	4	23	are	be	AUX
ajfa-6133	4	24	more	more	ADV
ajfa-6133	4	25	important	important	ADJ
ajfa-6133	4	26	in	in	ADP
ajfa-6133	4	27	a	a	DET
ajfa-6133	4	28	country	country	NOUN
ajfa-6133	4	29	with	with	ADP
ajfa-6133	4	30	weaker	weak	ADJ
ajfa-6133	4	31	governance	governance	NOUN
ajfa-6133	4	32	standards	standard	NOUN
ajfa-6133	4	33	and	and	CCONJ
ajfa-6133	4	34	for	for	ADP
ajfa-6133	4	35	firm	firm	NOUN
ajfa-6133	4	36	with	with	ADP
ajfa-6133	4	37	poor	poor	ADJ
ajfa-6133	4	38	corporate	corporate	ADJ
ajfa-6133	4	39	governance	governance	NOUN
ajfa-6133	4	40	.	.	PUNCT
ajfa-6133	5	1	the	the	DET
ajfa-6133	5	2	results	result	NOUN
ajfa-6133	5	3	suggest	suggest	VERB
ajfa-6133	5	4	that	that	SCONJ
ajfa-6133	5	5	market	market	NOUN
ajfa-6133	5	6	disciplines	discipline	NOUN
ajfa-6133	5	7	can	can	AUX
ajfa-6133	5	8	substitute	substitute	VERB
ajfa-6133	5	9	for	for	ADP
ajfa-6133	5	10	investor	investor	NOUN
ajfa-6133	5	11	protection	protection	NOUN
ajfa-6133	5	12	.	.	PUNCT
ajfa-6133	6	1	keywords	keyword	NOUN
ajfa-6133	6	2	:	:	PUNCT
ajfa-6133	6	3	accounting	accounting	NOUN
ajfa-6133	6	4	disclosure	disclosure	NOUN
ajfa-6133	6	5	,	,	PUNCT
ajfa-6133	6	6	governance	governance	NOUN
ajfa-6133	6	7	standards	standard	NOUN
ajfa-6133	6	8	,	,	PUNCT
ajfa-6133	6	9	emerging	emerge	VERB
ajfa-6133	6	10	markets	market	NOUN
ajfa-6133	6	11	,	,	PUNCT
ajfa-6133	6	12	innovation	innovation	NOUN
ajfa-6133	6	13	activities	activity	NOUN
ajfa-6133	6	14	asian	asian	ADJ
ajfa-6133	6	15	journal	journal	NOUN
ajfa-6133	6	16	of	of	ADP
ajfa-6133	6	17	finance	finance	PROPN
ajfa-6133	6	18	&	&	CCONJ
ajfa-6133	6	19	accounting	accounting	PROPN
ajfa-6133	6	20	issn	issn	PROPN
ajfa-6133	6	21	1946	1946	NUM
ajfa-6133	6	22	-	-	PUNCT
ajfa-6133	6	23	052x	052x	PROPN
ajfa-6133	6	24	2014	2014	NUM
ajfa-6133	6	25	,	,	PUNCT
ajfa-6133	6	26	vol	vol	NOUN
ajfa-6133	6	27	.	.	PROPN
ajfa-6133	6	28	6	6	NUM
ajfa-6133	6	29	,	,	PUNCT
ajfa-6133	6	30	no	no	INTJ
ajfa-6133	6	31	.	.	NOUN
ajfa-6133	6	32	2	2	NUM
ajfa-6133	6	33	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-6133	6	34	144	144	NUM
ajfa-6133	6	35	1	1	NUM
ajfa-6133	6	36	.	.	PUNCT
ajfa-6133	7	1	introduction	introduction	NOUN
ajfa-6133	7	2	the	the	DET
ajfa-6133	7	3	existing	exist	VERB
ajfa-6133	7	4	literature	literature	NOUN
ajfa-6133	7	5	shows	show	VERB
ajfa-6133	7	6	that	that	SCONJ
ajfa-6133	7	7	innovation	innovation	NOUN
ajfa-6133	7	8	contributes	contribute	VERB
ajfa-6133	7	9	to	to	ADP
ajfa-6133	7	10	countries	country	NOUN
ajfa-6133	7	11	’	'	PUNCT
ajfa-6133	7	12	economic	economic	ADJ
ajfa-6133	7	13	growth	growth	NOUN
ajfa-6133	7	14	(	(	PUNCT
ajfa-6133	7	15	aghion	aghion	NOUN
ajfa-6133	7	16	and	and	CCONJ
ajfa-6133	7	17	howitt	howitt	ADJ
ajfa-6133	7	18	,	,	PUNCT
ajfa-6133	7	19	2006	2006	NUM
ajfa-6133	7	20	)	)	PUNCT
ajfa-6133	7	21	and	and	CCONJ
ajfa-6133	7	22	firms	firm	NOUN
ajfa-6133	7	23	are	be	AUX
ajfa-6133	7	24	trying	try	VERB
ajfa-6133	7	25	to	to	PART
ajfa-6133	7	26	promote	promote	VERB
ajfa-6133	7	27	innovation	innovation	NOUN
ajfa-6133	7	28	(	(	PUNCT
ajfa-6133	7	29	hoskisson	hoskisson	NOUN
ajfa-6133	7	30	et	et	PROPN
ajfa-6133	7	31	al	al	PROPN
ajfa-6133	7	32	.	.	PROPN
ajfa-6133	7	33	,	,	PUNCT
ajfa-6133	7	34	2002	2002	NUM
ajfa-6133	7	35	)	)	PUNCT
ajfa-6133	7	36	.	.	PUNCT
ajfa-6133	8	1	much	much	ADJ
ajfa-6133	8	2	of	of	ADP
ajfa-6133	8	3	the	the	DET
ajfa-6133	8	4	extant	extant	ADJ
ajfa-6133	8	5	research	research	NOUN
ajfa-6133	8	6	is	be	AUX
ajfa-6133	8	7	based	base	VERB
ajfa-6133	8	8	on	on	ADP
ajfa-6133	8	9	the	the	DET
ajfa-6133	8	10	managerial	managerial	ADJ
ajfa-6133	8	11	conflicts	conflict	NOUN
ajfa-6133	8	12	(	(	PUNCT
ajfa-6133	8	13	jensen	jensen	PROPN
ajfa-6133	8	14	and	and	CCONJ
ajfa-6133	8	15	meckling	meckling	NOUN
ajfa-6133	8	16	,	,	PUNCT
ajfa-6133	8	17	1976	1976	NUM
ajfa-6133	8	18	;	;	PUNCT
ajfa-6133	8	19	holmstrom	holmstrom	PROPN
ajfa-6133	8	20	,	,	PUNCT
ajfa-6133	8	21	1989	1989	NUM
ajfa-6133	8	22	)	)	PUNCT
ajfa-6133	8	23	.	.	PUNCT
ajfa-6133	9	1	the	the	DET
ajfa-6133	9	2	existing	exist	VERB
ajfa-6133	9	3	empirical	empirical	ADJ
ajfa-6133	9	4	studies	study	NOUN
ajfa-6133	9	5	find	find	VERB
ajfa-6133	9	6	that	that	SCONJ
ajfa-6133	9	7	innovation	innovation	NOUN
ajfa-6133	9	8	is	be	AUX
ajfa-6133	9	9	determined	determine	VERB
ajfa-6133	9	10	by	by	ADP
ajfa-6133	9	11	several	several	ADJ
ajfa-6133	9	12	corporate	corporate	ADJ
ajfa-6133	9	13	factors	factor	NOUN
ajfa-6133	9	14	(	(	PUNCT
ajfa-6133	9	15	francis	francis	PROPN
ajfa-6133	9	16	et	et	PROPN
ajfa-6133	9	17	al	al	PROPN
ajfa-6133	9	18	.	.	PROPN
ajfa-6133	9	19	,	,	PUNCT
ajfa-6133	9	20	2012a	2012a	NUM
ajfa-6133	9	21	;	;	PUNCT
ajfa-6133	9	22	o’connor	o’connor	ADV
ajfa-6133	9	23	and	and	CCONJ
ajfa-6133	9	24	rafferty	rafferty	PROPN
ajfa-6133	9	25	,	,	PUNCT
ajfa-6133	9	26	2012	2012	NUM
ajfa-6133	9	27	;	;	PUNCT
ajfa-6133	9	28	aghion	aghion	NOUN
ajfa-6133	9	29	,	,	PUNCT
ajfa-6133	9	30	van	van	PROPN
ajfa-6133	9	31	reenen	reenen	PROPN
ajfa-6133	9	32	,	,	PUNCT
ajfa-6133	9	33	and	and	CCONJ
ajfa-6133	9	34	zingales	zingale	NOUN
ajfa-6133	9	35	,	,	PUNCT
ajfa-6133	9	36	2013	2013	NUM
ajfa-6133	9	37	)	)	PUNCT
ajfa-6133	9	38	.	.	PUNCT
ajfa-6133	10	1	while	while	SCONJ
ajfa-6133	10	2	most	most	ADJ
ajfa-6133	10	3	of	of	ADP
ajfa-6133	10	4	the	the	DET
ajfa-6133	10	5	conclusion	conclusion	NOUN
ajfa-6133	10	6	has	have	AUX
ajfa-6133	10	7	been	be	AUX
ajfa-6133	10	8	from	from	ADP
ajfa-6133	10	9	u.s	u.s	PROPN
ajfa-6133	10	10	.	.	PROPN
ajfa-6133	10	11	firms	firm	NOUN
ajfa-6133	10	12	,	,	PUNCT
ajfa-6133	10	13	recent	recent	ADJ
ajfa-6133	10	14	research	research	NOUN
ajfa-6133	10	15	has	have	AUX
ajfa-6133	10	16	also	also	ADV
ajfa-6133	10	17	investigated	investigate	VERB
ajfa-6133	10	18	emerging	emerge	VERB
ajfa-6133	10	19	economies	economy	NOUN
ajfa-6133	10	20	(	(	PUNCT
ajfa-6133	10	21	chen	chen	PROPN
ajfa-6133	10	22	et	et	PROPN
ajfa-6133	10	23	.	.	PUNCT
ajfa-6133	11	1	al	al	PROPN
ajfa-6133	11	2	.	.	PROPN
ajfa-6133	11	3	,	,	PUNCT
ajfa-6133	11	4	2011	2011	NUM
ajfa-6133	11	5	;	;	PUNCT
ajfa-6133	11	6	francis	francis	PROPN
ajfa-6133	11	7	et	et	PROPN
ajfa-6133	11	8	al	al	PROPN
ajfa-6133	11	9	.	.	PROPN
ajfa-6133	11	10	,	,	PUNCT
ajfa-6133	11	11	2012b	2012b	NUM
ajfa-6133	11	12	;	;	PUNCT
ajfa-6133	11	13	gibson	gibson	PROPN
ajfa-6133	11	14	,	,	PUNCT
ajfa-6133	11	15	2003	2003	NUM
ajfa-6133	11	16	;	;	PUNCT
ajfa-6133	11	17	hasan	hasan	PROPN
ajfa-6133	11	18	and	and	CCONJ
ajfa-6133	11	19	song	song	NOUN
ajfa-6133	11	20	,	,	PUNCT
ajfa-6133	11	21	2014a	2014a	NUM
ajfa-6133	11	22	;	;	PUNCT
ajfa-6133	11	23	klapper	klapper	NOUN
ajfa-6133	11	24	and	and	CCONJ
ajfa-6133	11	25	love	love	NOUN
ajfa-6133	11	26	,	,	PUNCT
ajfa-6133	11	27	2004	2004	NUM
ajfa-6133	11	28	)	)	PUNCT
ajfa-6133	11	29	.	.	PUNCT
ajfa-6133	12	1	our	our	PRON
ajfa-6133	12	2	research	research	NOUN
ajfa-6133	12	3	further	far	ADV
ajfa-6133	12	4	analyzes	analyze	VERB
ajfa-6133	12	5	innovation	innovation	NOUN
ajfa-6133	12	6	in	in	ADP
ajfa-6133	12	7	emerging	emerge	VERB
ajfa-6133	12	8	countries	country	NOUN
ajfa-6133	12	9	by	by	ADP
ajfa-6133	12	10	considering	consider	VERB
ajfa-6133	12	11	the	the	DET
ajfa-6133	12	12	impact	impact	NOUN
ajfa-6133	12	13	of	of	ADP
ajfa-6133	12	14	country	country	NOUN
ajfa-6133	12	15	-	-	PUNCT
ajfa-6133	12	16	level	level	NOUN
ajfa-6133	12	17	and	and	CCONJ
ajfa-6133	12	18	firm	firm	ADJ
ajfa-6133	12	19	-	-	PUNCT
ajfa-6133	12	20	level	level	NOUN
ajfa-6133	12	21	governance	governance	NOUN
ajfa-6133	12	22	standards	standard	NOUN
ajfa-6133	12	23	on	on	ADP
ajfa-6133	12	24	the	the	DET
ajfa-6133	12	25	relationship	relationship	NOUN
ajfa-6133	12	26	between	between	ADP
ajfa-6133	12	27	accounting	accounting	NOUN
ajfa-6133	12	28	disclosure	disclosure	NOUN
ajfa-6133	12	29	and	and	CCONJ
ajfa-6133	12	30	innovation	innovation	NOUN
ajfa-6133	12	31	,	,	PUNCT
ajfa-6133	12	32	as	as	SCONJ
ajfa-6133	12	33	measured	measure	VERB
ajfa-6133	12	34	by	by	ADP
ajfa-6133	12	35	r&d	r&d	NOUN
ajfa-6133	12	36	.	.	PUNCT
ajfa-6133	13	1	according	accord	VERB
ajfa-6133	13	2	to	to	ADP
ajfa-6133	13	3	the	the	DET
ajfa-6133	13	4	agency	agency	NOUN
ajfa-6133	13	5	theory	theory	NOUN
ajfa-6133	13	6	,	,	PUNCT
ajfa-6133	13	7	managers	manager	NOUN
ajfa-6133	13	8	are	be	AUX
ajfa-6133	13	9	trying	try	VERB
ajfa-6133	13	10	to	to	PART
ajfa-6133	13	11	maximize	maximize	VERB
ajfa-6133	13	12	their	their	PRON
ajfa-6133	13	13	own	own	ADJ
ajfa-6133	13	14	interest	interest	NOUN
ajfa-6133	13	15	by	by	ADP
ajfa-6133	13	16	conducting	conduct	VERB
ajfa-6133	13	17	less	less	ADJ
ajfa-6133	13	18	investment	investment	NOUN
ajfa-6133	13	19	to	to	ADP
ajfa-6133	13	20	research	research	NOUN
ajfa-6133	13	21	and	and	CCONJ
ajfa-6133	13	22	development	development	NOUN
ajfa-6133	13	23	and	and	CCONJ
ajfa-6133	13	24	investing	invest	VERB
ajfa-6133	13	25	more	more	ADJ
ajfa-6133	13	26	in	in	ADP
ajfa-6133	13	27	safe	safe	ADJ
ajfa-6133	13	28	projects	project	NOUN
ajfa-6133	13	29	.	.	PUNCT
ajfa-6133	14	1	strong	strong	ADJ
ajfa-6133	14	2	governance	governance	NOUN
ajfa-6133	14	3	mechanisms	mechanism	NOUN
ajfa-6133	14	4	such	such	ADJ
ajfa-6133	14	5	as	as	ADP
ajfa-6133	14	6	investor	investor	NOUN
ajfa-6133	14	7	protection	protection	NOUN
ajfa-6133	14	8	and	and	CCONJ
ajfa-6133	14	9	market	market	NOUN
ajfa-6133	14	10	discipline	discipline	NOUN
ajfa-6133	14	11	should	should	AUX
ajfa-6133	14	12	reduce	reduce	VERB
ajfa-6133	14	13	such	such	ADJ
ajfa-6133	14	14	agency	agency	NOUN
ajfa-6133	14	15	problems	problem	NOUN
ajfa-6133	14	16	(	(	PUNCT
ajfa-6133	14	17	see	see	VERB
ajfa-6133	14	18	o’connor	o’connor	ADV
ajfa-6133	14	19	and	and	CCONJ
ajfa-6133	14	20	rafferty	rafferty	PROPN
ajfa-6133	14	21	,	,	PUNCT
ajfa-6133	14	22	2012	2012	NUM
ajfa-6133	14	23	)	)	PUNCT
ajfa-6133	14	24	although	although	SCONJ
ajfa-6133	14	25	the	the	DET
ajfa-6133	14	26	literature	literature	NOUN
ajfa-6133	14	27	has	have	AUX
ajfa-6133	14	28	addressed	address	VERB
ajfa-6133	14	29	the	the	DET
ajfa-6133	14	30	effects	effect	NOUN
ajfa-6133	14	31	of	of	ADP
ajfa-6133	14	32	market	market	NOUN
ajfa-6133	14	33	disciplines	discipline	NOUN
ajfa-6133	14	34	resulted	result	VERB
ajfa-6133	14	35	from	from	ADP
ajfa-6133	14	36	accounting	account	VERB
ajfa-6133	14	37	disclosure	disclosure	NOUN
ajfa-6133	14	38	on	on	ADP
ajfa-6133	14	39	innovation	innovation	NOUN
ajfa-6133	14	40	activities	activity	NOUN
ajfa-6133	14	41	,	,	PUNCT
ajfa-6133	14	42	there	there	PRON
ajfa-6133	14	43	is	be	VERB
ajfa-6133	14	44	little	little	ADJ
ajfa-6133	14	45	evidence	evidence	NOUN
ajfa-6133	14	46	of	of	ADP
ajfa-6133	14	47	whether	whether	SCONJ
ajfa-6133	14	48	the	the	DET
ajfa-6133	14	49	effects	effect	NOUN
ajfa-6133	14	50	of	of	ADP
ajfa-6133	14	51	market	market	NOUN
ajfa-6133	14	52	disciplines	discipline	NOUN
ajfa-6133	14	53	are	be	AUX
ajfa-6133	14	54	more	more	ADV
ajfa-6133	14	55	important	important	ADJ
ajfa-6133	14	56	in	in	ADP
ajfa-6133	14	57	a	a	DET
ajfa-6133	14	58	country	country	NOUN
ajfa-6133	14	59	with	with	ADP
ajfa-6133	14	60	weaker	weak	ADJ
ajfa-6133	14	61	investor	investor	NOUN
ajfa-6133	14	62	protection	protection	NOUN
ajfa-6133	14	63	and	and	CCONJ
ajfa-6133	14	64	for	for	ADP
ajfa-6133	14	65	firms	firm	NOUN
ajfa-6133	14	66	with	with	ADP
ajfa-6133	14	67	poor	poor	ADJ
ajfa-6133	14	68	corporate	corporate	ADJ
ajfa-6133	14	69	governance	governance	NOUN
ajfa-6133	14	70	.	.	PUNCT
ajfa-6133	15	1	one	one	NUM
ajfa-6133	15	2	hypothesis	hypothesis	NOUN
ajfa-6133	15	3	is	be	AUX
ajfa-6133	15	4	that	that	SCONJ
ajfa-6133	15	5	if	if	SCONJ
ajfa-6133	15	6	governance	governance	NOUN
ajfa-6133	15	7	is	be	AUX
ajfa-6133	15	8	weak	weak	ADJ
ajfa-6133	15	9	,	,	PUNCT
ajfa-6133	15	10	then	then	ADV
ajfa-6133	15	11	accounting	accounting	NOUN
ajfa-6133	15	12	disclosure	disclosure	NOUN
ajfa-6133	15	13	is	be	AUX
ajfa-6133	15	14	less	less	ADV
ajfa-6133	15	15	credible	credible	ADJ
ajfa-6133	15	16	and	and	CCONJ
ajfa-6133	15	17	market	market	NOUN
ajfa-6133	15	18	disciplines	discipline	NOUN
ajfa-6133	15	19	are	be	AUX
ajfa-6133	15	20	less	less	ADV
ajfa-6133	15	21	effective	effective	ADJ
ajfa-6133	15	22	(	(	PUNCT
ajfa-6133	15	23	hasan	hasan	PROPN
ajfa-6133	15	24	and	and	CCONJ
ajfa-6133	15	25	song	song	NOUN
ajfa-6133	15	26	,	,	PUNCT
ajfa-6133	15	27	2014	2014	NUM
ajfa-6133	15	28	;	;	PUNCT
ajfa-6133	16	1	hasan	hasan	PROPN
ajfa-6133	16	2	et	et	PROPN
ajfa-6133	16	3	al	al	PROPN
ajfa-6133	16	4	.	.	PROPN
ajfa-6133	16	5	,	,	PUNCT
ajfa-6133	16	6	2014b	2014b	NUM
ajfa-6133	16	7	)	)	PUNCT
ajfa-6133	16	8	.	.	PUNCT
ajfa-6133	17	1	an	an	DET
ajfa-6133	17	2	alternative	alternative	ADJ
ajfa-6133	17	3	hypothesis	hypothesis	NOUN
ajfa-6133	17	4	is	be	AUX
ajfa-6133	17	5	that	that	SCONJ
ajfa-6133	17	6	if	if	SCONJ
ajfa-6133	17	7	the	the	DET
ajfa-6133	17	8	firm	firm	NOUN
ajfa-6133	17	9	is	be	AUX
ajfa-6133	17	10	located	locate	VERB
ajfa-6133	17	11	in	in	ADP
ajfa-6133	17	12	countries	country	NOUN
ajfa-6133	17	13	with	with	ADP
ajfa-6133	17	14	weak	weak	ADJ
ajfa-6133	17	15	legal	legal	ADJ
ajfa-6133	17	16	systems	system	NOUN
ajfa-6133	17	17	and	and	CCONJ
ajfa-6133	17	18	investor	investor	NOUN
ajfa-6133	17	19	protections	protection	NOUN
ajfa-6133	17	20	and	and	CCONJ
ajfa-6133	17	21	has	have	VERB
ajfa-6133	17	22	poor	poor	ADJ
ajfa-6133	17	23	corporate	corporate	ADJ
ajfa-6133	17	24	governance	governance	NOUN
ajfa-6133	17	25	,	,	PUNCT
ajfa-6133	17	26	shareholders	shareholder	NOUN
ajfa-6133	17	27	and	and	CCONJ
ajfa-6133	17	28	owners	owner	NOUN
ajfa-6133	17	29	would	would	AUX
ajfa-6133	17	30	welcome	welcome	VERB
ajfa-6133	17	31	even	even	ADV
ajfa-6133	17	32	small	small	ADJ
ajfa-6133	17	33	improvements	improvement	NOUN
ajfa-6133	17	34	in	in	ADP
ajfa-6133	17	35	market	market	NOUN
ajfa-6133	17	36	disciplines	discipline	NOUN
ajfa-6133	17	37	relative	relative	ADJ
ajfa-6133	17	38	to	to	ADP
ajfa-6133	17	39	other	other	ADJ
ajfa-6133	17	40	firms	firm	NOUN
ajfa-6133	17	41	(	(	PUNCT
ajfa-6133	17	42	klapper	klapper	NOUN
ajfa-6133	17	43	and	and	CCONJ
ajfa-6133	17	44	love	love	NOUN
ajfa-6133	17	45	,	,	PUNCT
ajfa-6133	17	46	2004	2004	NUM
ajfa-6133	17	47	)	)	PUNCT
ajfa-6133	17	48	.	.	PUNCT
ajfa-6133	18	1	to	to	PART
ajfa-6133	18	2	test	test	VERB
ajfa-6133	18	3	our	our	PRON
ajfa-6133	18	4	hypotheses	hypothesis	NOUN
ajfa-6133	18	5	,	,	PUNCT
ajfa-6133	18	6	our	our	PRON
ajfa-6133	18	7	firm	firm	ADJ
ajfa-6133	18	8	-	-	PUNCT
ajfa-6133	18	9	level	level	NOUN
ajfa-6133	18	10	accounting	accounting	NOUN
ajfa-6133	18	11	disclosure	disclosure	NOUN
ajfa-6133	18	12	and	and	CCONJ
ajfa-6133	18	13	corporate	corporate	ADJ
ajfa-6133	18	14	governance	governance	NOUN
ajfa-6133	18	15	data	datum	NOUN
ajfa-6133	18	16	is	be	AUX
ajfa-6133	18	17	obtained	obtain	VERB
ajfa-6133	18	18	from	from	ADP
ajfa-6133	18	19	the	the	DET
ajfa-6133	18	20	survey	survey	NOUN
ajfa-6133	18	21	data	datum	NOUN
ajfa-6133	18	22	by	by	ADP
ajfa-6133	18	23	credit	credit	NOUN
ajfa-6133	18	24	lyonnais	lyonnais	PROPN
ajfa-6133	18	25	securities	securities	PROPN
ajfa-6133	18	26	asia	asia	PROPN
ajfa-6133	18	27	.	.	PUNCT
ajfa-6133	19	1	we	we	PRON
ajfa-6133	19	2	use	use	VERB
ajfa-6133	19	3	the	the	DET
ajfa-6133	19	4	three	three	NUM
ajfa-6133	19	5	country	country	NOUN
ajfa-6133	19	6	-	-	PUNCT
ajfa-6133	19	7	level	level	NOUN
ajfa-6133	19	8	governance	governance	NOUN
ajfa-6133	19	9	measures	measure	NOUN
ajfa-6133	19	10	such	such	ADJ
ajfa-6133	19	11	as	as	ADP
ajfa-6133	19	12	judicial	judicial	ADJ
ajfa-6133	19	13	efficiency	efficiency	NOUN
ajfa-6133	19	14	,	,	PUNCT
ajfa-6133	19	15	legality	legality	NOUN
ajfa-6133	19	16	,	,	PUNCT
ajfa-6133	19	17	and	and	CCONJ
ajfa-6133	19	18	shareholder	shareholder	NOUN
ajfa-6133	19	19	rights	right	NOUN
ajfa-6133	19	20	from	from	ADP
ajfa-6133	19	21	la	la	ADV
ajfa-6133	19	22	porta	porta	NOUN
ajfa-6133	19	23	et	et	PROPN
ajfa-6133	19	24	al	al	PROPN
ajfa-6133	19	25	.	.	PROPN
ajfa-6133	20	1	(	(	PUNCT
ajfa-6133	20	2	1998	1998	NUM
ajfa-6133	20	3	)	)	PUNCT
ajfa-6133	20	4	and	and	CCONJ
ajfa-6133	20	5	the	the	DET
ajfa-6133	20	6	international	international	ADJ
ajfa-6133	20	7	country	country	NOUN
ajfa-6133	20	8	risk	risk	NOUN
ajfa-6133	20	9	guide	guide	NOUN
ajfa-6133	20	10	(	(	PUNCT
ajfa-6133	20	11	2000	2000	NUM
ajfa-6133	20	12	)	)	PUNCT
ajfa-6133	20	13	.	.	PUNCT
ajfa-6133	21	1	we	we	PRON
ajfa-6133	21	2	obtain	obtain	VERB
ajfa-6133	21	3	our	our	PRON
ajfa-6133	21	4	dependent	dependent	ADJ
ajfa-6133	21	5	variable	variable	NOUN
ajfa-6133	21	6	from	from	ADP
ajfa-6133	21	7	worldscope	worldscope	NOUN
ajfa-6133	21	8	,	,	PUNCT
ajfa-6133	21	9	and	and	CCONJ
ajfa-6133	21	10	define	define	VERB
ajfa-6133	21	11	r&d	r&d	NOUN
ajfa-6133	21	12	as	as	ADP
ajfa-6133	21	13	the	the	DET
ajfa-6133	21	14	ratio	ratio	NOUN
ajfa-6133	21	15	of	of	ADP
ajfa-6133	21	16	a	a	DET
ajfa-6133	21	17	firm	firm	NOUN
ajfa-6133	21	18	’s	’s	PART
ajfa-6133	21	19	r&d	r&d	NOUN
ajfa-6133	21	20	expenditures	expenditure	NOUN
ajfa-6133	21	21	to	to	ADP
ajfa-6133	21	22	sales	sale	NOUN
ajfa-6133	21	23	.	.	PUNCT
ajfa-6133	22	1	we	we	PRON
ajfa-6133	22	2	also	also	ADV
ajfa-6133	22	3	control	control	VERB
ajfa-6133	22	4	for	for	ADP
ajfa-6133	22	5	the	the	DET
ajfa-6133	22	6	logarithm	logarithm	NOUN
ajfa-6133	22	7	of	of	ADP
ajfa-6133	22	8	firm	firm	ADJ
ajfa-6133	22	9	assets	asset	NOUN
ajfa-6133	22	10	,	,	PUNCT
ajfa-6133	22	11	total	total	ADJ
ajfa-6133	22	12	liability	liability	NOUN
ajfa-6133	22	13	,	,	PUNCT
ajfa-6133	22	14	accounting	accounting	NOUN
ajfa-6133	22	15	earnings	earning	NOUN
ajfa-6133	22	16	,	,	PUNCT
ajfa-6133	22	17	gdp	gdp	NOUN
ajfa-6133	22	18	growth	growth	NOUN
ajfa-6133	22	19	,	,	PUNCT
ajfa-6133	22	20	gdp	gdp	NOUN
ajfa-6133	22	21	per	per	ADP
ajfa-6133	22	22	capita	capita	NOUN
ajfa-6133	22	23	.	.	PUNCT
ajfa-6133	23	1	our	our	PRON
ajfa-6133	23	2	sample	sample	NOUN
ajfa-6133	23	3	period	period	NOUN
ajfa-6133	23	4	is	be	AUX
ajfa-6133	23	5	between	between	ADP
ajfa-6133	23	6	2000	2000	NUM
ajfa-6133	23	7	and	and	CCONJ
ajfa-6133	23	8	2005	2005	NUM
ajfa-6133	23	9	.	.	PUNCT
ajfa-6133	24	1	our	our	PRON
ajfa-6133	24	2	final	final	ADJ
ajfa-6133	24	3	sample	sample	NOUN
ajfa-6133	24	4	includes	include	VERB
ajfa-6133	24	5	807	807	NUM
ajfa-6133	24	6	observations	observation	NOUN
ajfa-6133	24	7	in	in	ADP
ajfa-6133	24	8	fourteen	fourteen	NUM
ajfa-6133	24	9	emerging	emerge	VERB
ajfa-6133	24	10	markets	market	NOUN
ajfa-6133	24	11	.	.	PUNCT
ajfa-6133	25	1	empirically	empirically	ADV
ajfa-6133	25	2	,	,	PUNCT
ajfa-6133	25	3	we	we	PRON
ajfa-6133	25	4	use	use	VERB
ajfa-6133	25	5	r&d	r&d	NOUN
ajfa-6133	25	6	as	as	ADP
ajfa-6133	25	7	our	our	PRON
ajfa-6133	25	8	innovation	innovation	NOUN
ajfa-6133	25	9	measure	measure	NOUN
ajfa-6133	25	10	.	.	PUNCT
ajfa-6133	26	1	the	the	DET
ajfa-6133	26	2	key	key	ADJ
ajfa-6133	26	3	independent	independent	ADJ
ajfa-6133	26	4	variables	variable	NOUN
ajfa-6133	26	5	are	be	AUX
ajfa-6133	26	6	the	the	DET
ajfa-6133	26	7	interaction	interaction	NOUN
ajfa-6133	26	8	terms	term	NOUN
ajfa-6133	26	9	between	between	ADP
ajfa-6133	26	10	firm	firm	ADJ
ajfa-6133	26	11	-	-	PUNCT
ajfa-6133	26	12	level	level	NOUN
ajfa-6133	26	13	accounting	accounting	NOUN
ajfa-6133	26	14	disclosure	disclosure	NOUN
ajfa-6133	26	15	and	and	CCONJ
ajfa-6133	26	16	governance	governance	NOUN
ajfa-6133	26	17	variables	variable	NOUN
ajfa-6133	26	18	.	.	PUNCT
ajfa-6133	27	1	specifically	specifically	ADV
ajfa-6133	27	2	,	,	PUNCT
ajfa-6133	27	3	we	we	PRON
ajfa-6133	27	4	estimate	estimate	VERB
ajfa-6133	27	5	the	the	DET
ajfa-6133	27	6	following	follow	VERB
ajfa-6133	27	7	equation	equation	NOUN
ajfa-6133	27	8	:	:	PUNCT
ajfa-6133	27	9	company	company	NOUN
ajfa-6133	27	10	-	-	PUNCT
ajfa-6133	27	11	r&d	r&d	NOUN
ajfa-6133	27	12	=	=	NOUN
ajfa-6133	27	13	α	α	PROPN
ajfa-6133	27	14	+	+	CCONJ
ajfa-6133	27	15	β1	β1	NOUN
ajfa-6133	27	16	accounting	accounting	NOUN
ajfa-6133	27	17	-	-	PUNCT
ajfa-6133	27	18	disclosure	disclosure	NOUN
ajfa-6133	27	19	+	+	CCONJ
ajfa-6133	27	20	β2	β2	NOUN
ajfa-6133	27	21	governance	governance	NOUN
ajfa-6133	27	22	variables	variable	NOUN
ajfa-6133	27	23	+	+	CCONJ
ajfa-6133	27	24	β3	β3	VERB
ajfa-6133	27	25	accounting	accounting	NOUN
ajfa-6133	27	26	-	-	PUNCT
ajfa-6133	27	27	disclosure	disclosure	NOUN
ajfa-6133	27	28	*	*	PUNCT
ajfa-6133	27	29	governance	governance	NOUN
ajfa-6133	27	30	variables	variable	NOUN
ajfa-6133	27	31	+	+	CCONJ
ajfa-6133	27	32	β4	β4	PROPN
ajfa-6133	27	33	control	control	NOUN
ajfa-6133	27	34	variables	variable	NOUN
ajfa-6133	27	35	+	+	CCONJ
ajfa-6133	27	36	industry	industry	NOUN
ajfa-6133	27	37	effects	effect	NOUN
ajfa-6133	27	38	+	+	CCONJ
ajfa-6133	27	39	year	year	NOUN
ajfa-6133	27	40	effects	effect	NOUN
ajfa-6133	28	1	+	+	CCONJ
ajfa-6133	28	2	ε	ε	PROPN
ajfa-6133	28	3	(	(	PUNCT
ajfa-6133	28	4	1	1	NUM
ajfa-6133	28	5	)	)	PUNCT
ajfa-6133	28	6	across	across	ADP
ajfa-6133	28	7	14	14	NUM
ajfa-6133	28	8	emerging	emerge	VERB
ajfa-6133	28	9	markets	market	NOUN
ajfa-6133	28	10	,	,	PUNCT
ajfa-6133	28	11	evidence	evidence	NOUN
ajfa-6133	28	12	confirms	confirm	VERB
ajfa-6133	28	13	that	that	SCONJ
ajfa-6133	28	14	the	the	DET
ajfa-6133	28	15	effects	effect	NOUN
ajfa-6133	28	16	of	of	ADP
ajfa-6133	28	17	firm	firm	ADJ
ajfa-6133	28	18	-	-	PUNCT
ajfa-6133	28	19	level	level	NOUN
ajfa-6133	28	20	accounting	accounting	NOUN
ajfa-6133	28	21	asian	asian	ADJ
ajfa-6133	28	22	journal	journal	NOUN
ajfa-6133	28	23	of	of	ADP
ajfa-6133	28	24	finance	finance	PROPN
ajfa-6133	28	25	&	&	CCONJ
ajfa-6133	28	26	accounting	accounting	PROPN
ajfa-6133	28	27	issn	issn	PROPN
ajfa-6133	28	28	1946	1946	NUM
ajfa-6133	28	29	-	-	PUNCT
ajfa-6133	28	30	052x	052x	PROPN
ajfa-6133	28	31	2014	2014	NUM
ajfa-6133	28	32	,	,	PUNCT
ajfa-6133	28	33	vol	vol	NOUN
ajfa-6133	28	34	.	.	PROPN
ajfa-6133	28	35	6	6	NUM
ajfa-6133	28	36	,	,	PUNCT
ajfa-6133	28	37	no	no	INTJ
ajfa-6133	28	38	.	.	NOUN
ajfa-6133	28	39	2	2	NUM
ajfa-6133	28	40	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-6133	28	41	145	145	NUM
ajfa-6133	28	42	disclosure	disclosure	NOUN
ajfa-6133	28	43	on	on	ADP
ajfa-6133	28	44	innovation	innovation	NOUN
ajfa-6133	28	45	activities	activity	NOUN
ajfa-6133	28	46	are	be	AUX
ajfa-6133	28	47	more	more	ADV
ajfa-6133	28	48	important	important	ADJ
ajfa-6133	28	49	in	in	ADP
ajfa-6133	28	50	a	a	DET
ajfa-6133	28	51	country	country	NOUN
ajfa-6133	28	52	with	with	ADP
ajfa-6133	28	53	weaker	weak	ADJ
ajfa-6133	28	54	governance	governance	NOUN
ajfa-6133	28	55	standards	standard	NOUN
ajfa-6133	28	56	and	and	CCONJ
ajfa-6133	28	57	for	for	ADP
ajfa-6133	28	58	firms	firm	NOUN
ajfa-6133	28	59	with	with	ADP
ajfa-6133	28	60	poor	poor	ADJ
ajfa-6133	28	61	corporate	corporate	ADJ
ajfa-6133	28	62	governance	governance	NOUN
ajfa-6133	28	63	.	.	PUNCT
ajfa-6133	29	1	the	the	DET
ajfa-6133	29	2	results	result	NOUN
ajfa-6133	29	3	suggest	suggest	VERB
ajfa-6133	29	4	that	that	SCONJ
ajfa-6133	29	5	market	market	NOUN
ajfa-6133	29	6	disciplines	discipline	NOUN
ajfa-6133	29	7	resulted	result	VERB
ajfa-6133	29	8	from	from	ADP
ajfa-6133	29	9	firm	firm	ADJ
ajfa-6133	29	10	-	-	PUNCT
ajfa-6133	29	11	level	level	NOUN
ajfa-6133	29	12	accounting	accounting	NOUN
ajfa-6133	29	13	disclosure	disclosure	NOUN
ajfa-6133	29	14	can	can	AUX
ajfa-6133	29	15	substitute	substitute	VERB
ajfa-6133	29	16	for	for	ADP
ajfa-6133	29	17	investor	investor	NOUN
ajfa-6133	29	18	protection	protection	NOUN
ajfa-6133	29	19	resulted	result	VERB
ajfa-6133	29	20	from	from	ADP
ajfa-6133	29	21	country	country	NOUN
ajfa-6133	29	22	-	-	PUNCT
ajfa-6133	29	23	level	level	NOUN
ajfa-6133	29	24	and	and	CCONJ
ajfa-6133	29	25	firm	firm	ADJ
ajfa-6133	29	26	-	-	PUNCT
ajfa-6133	29	27	level	level	NOUN
ajfa-6133	29	28	governance	governance	NOUN
ajfa-6133	29	29	standards	standard	NOUN
ajfa-6133	29	30	.	.	PUNCT
ajfa-6133	30	1	our	our	PRON
ajfa-6133	30	2	analysis	analysis	NOUN
ajfa-6133	30	3	extends	extend	VERB
ajfa-6133	30	4	the	the	DET
ajfa-6133	30	5	existing	exist	VERB
ajfa-6133	30	6	research	research	NOUN
ajfa-6133	30	7	by	by	ADP
ajfa-6133	30	8	examining	examine	VERB
ajfa-6133	30	9	how	how	SCONJ
ajfa-6133	30	10	investor	investor	NOUN
ajfa-6133	30	11	protection	protection	NOUN
ajfa-6133	30	12	resulted	result	VERB
ajfa-6133	30	13	from	from	ADP
ajfa-6133	30	14	country	country	NOUN
ajfa-6133	30	15	-	-	PUNCT
ajfa-6133	30	16	level	level	NOUN
ajfa-6133	30	17	and	and	CCONJ
ajfa-6133	30	18	firm	firm	ADJ
ajfa-6133	30	19	-	-	PUNCT
ajfa-6133	30	20	level	level	NOUN
ajfa-6133	30	21	governance	governance	NOUN
ajfa-6133	30	22	standards	standard	NOUN
ajfa-6133	30	23	influence	influence	VERB
ajfa-6133	30	24	the	the	DET
ajfa-6133	30	25	relationship	relationship	NOUN
ajfa-6133	30	26	between	between	ADP
ajfa-6133	30	27	market	market	NOUN
ajfa-6133	30	28	disciplines	discipline	NOUN
ajfa-6133	30	29	resulted	result	VERB
ajfa-6133	30	30	from	from	ADP
ajfa-6133	30	31	firm	firm	ADJ
ajfa-6133	30	32	-	-	PUNCT
ajfa-6133	30	33	level	level	NOUN
ajfa-6133	30	34	accounting	accounting	NOUN
ajfa-6133	30	35	disclosure	disclosure	NOUN
ajfa-6133	30	36	and	and	CCONJ
ajfa-6133	30	37	innovation	innovation	NOUN
ajfa-6133	30	38	activities	activity	NOUN
ajfa-6133	30	39	.	.	PUNCT
ajfa-6133	31	1	compared	compare	VERB
ajfa-6133	31	2	with	with	ADP
ajfa-6133	31	3	hasan	hasan	PROPN
ajfa-6133	31	4	et	et	PROPN
ajfa-6133	31	5	al	al	PROPN
ajfa-6133	31	6	.	.	PROPN
ajfa-6133	31	7	,	,	PUNCT
ajfa-6133	31	8	(	(	PUNCT
ajfa-6133	31	9	2014a	2014a	NUM
ajfa-6133	31	10	)	)	PUNCT
ajfa-6133	31	11	,	,	PUNCT
ajfa-6133	31	12	this	this	DET
ajfa-6133	31	13	paper	paper	NOUN
ajfa-6133	31	14	discomposes	discompose	VERB
ajfa-6133	31	15	the	the	DET
ajfa-6133	31	16	overall	overall	ADJ
ajfa-6133	31	17	firm	firm	ADJ
ajfa-6133	31	18	-	-	PUNCT
ajfa-6133	31	19	level	level	NOUN
ajfa-6133	31	20	corporate	corporate	ADJ
ajfa-6133	31	21	governance	governance	NOUN
ajfa-6133	31	22	into	into	ADP
ajfa-6133	31	23	two	two	NUM
ajfa-6133	31	24	components	component	NOUN
ajfa-6133	31	25	such	such	ADJ
ajfa-6133	31	26	as	as	ADP
ajfa-6133	31	27	accounting	accounting	NOUN
ajfa-6133	31	28	disclosure	disclosure	NOUN
ajfa-6133	31	29	and	and	CCONJ
ajfa-6133	31	30	non	non	ADJ
ajfa-6133	31	31	-	-	ADJ
ajfa-6133	31	32	disclosure	disclosure	ADJ
ajfa-6133	31	33	governance	governance	NOUN
ajfa-6133	31	34	and	and	CCONJ
ajfa-6133	31	35	examines	examine	VERB
ajfa-6133	31	36	the	the	DET
ajfa-6133	31	37	individual	individual	ADJ
ajfa-6133	31	38	and	and	CCONJ
ajfa-6133	31	39	interaction	interaction	NOUN
ajfa-6133	31	40	effects	effect	NOUN
ajfa-6133	31	41	of	of	ADP
ajfa-6133	31	42	these	these	DET
ajfa-6133	31	43	two	two	NUM
ajfa-6133	31	44	components	component	NOUN
ajfa-6133	31	45	on	on	ADP
ajfa-6133	31	46	firms	firm	NOUN
ajfa-6133	31	47	’	’	PART
ajfa-6133	31	48	innovation	innovation	NOUN
ajfa-6133	31	49	activities	activity	NOUN
ajfa-6133	31	50	.	.	PUNCT
ajfa-6133	32	1	in	in	ADP
ajfa-6133	32	2	the	the	DET
ajfa-6133	32	3	next	next	ADJ
ajfa-6133	32	4	section	section	NOUN
ajfa-6133	32	5	,	,	PUNCT
ajfa-6133	32	6	we	we	PRON
ajfa-6133	32	7	describe	describe	VERB
ajfa-6133	32	8	the	the	DET
ajfa-6133	32	9	data	datum	NOUN
ajfa-6133	32	10	.	.	PUNCT
ajfa-6133	33	1	section	section	NOUN
ajfa-6133	33	2	3	3	NUM
ajfa-6133	33	3	presents	present	NOUN
ajfa-6133	33	4	results	result	NOUN
ajfa-6133	33	5	.	.	PUNCT
ajfa-6133	34	1	section	section	NOUN
ajfa-6133	34	2	4	4	NUM
ajfa-6133	34	3	provides	provide	VERB
ajfa-6133	34	4	conclusions	conclusion	NOUN
ajfa-6133	34	5	.	.	PUNCT
ajfa-6133	35	1	2	2	X
ajfa-6133	35	2	.	.	X
ajfa-6133	35	3	variable	variable	ADJ
ajfa-6133	35	4	definition	definition	NOUN
ajfa-6133	35	5	,	,	PUNCT
ajfa-6133	35	6	sample	sample	NOUN
ajfa-6133	35	7	,	,	PUNCT
ajfa-6133	35	8	and	and	CCONJ
ajfa-6133	35	9	descriptive	descriptive	ADJ
ajfa-6133	35	10	statistics	statistic	NOUN
ajfa-6133	35	11	in	in	ADP
ajfa-6133	35	12	this	this	DET
ajfa-6133	35	13	subsection	subsection	NOUN
ajfa-6133	35	14	,	,	PUNCT
ajfa-6133	35	15	we	we	PRON
ajfa-6133	35	16	present	present	VERB
ajfa-6133	35	17	the	the	DET
ajfa-6133	35	18	variable	variable	ADJ
ajfa-6133	35	19	definition	definition	NOUN
ajfa-6133	35	20	,	,	PUNCT
ajfa-6133	35	21	the	the	DET
ajfa-6133	35	22	sample	sample	NOUN
ajfa-6133	35	23	construction	construction	NOUN
ajfa-6133	35	24	and	and	CCONJ
ajfa-6133	35	25	the	the	DET
ajfa-6133	35	26	descriptive	descriptive	ADJ
ajfa-6133	35	27	statistics	statistic	NOUN
ajfa-6133	35	28	.	.	PUNCT
ajfa-6133	36	1	our	our	PRON
ajfa-6133	36	2	firm	firm	ADJ
ajfa-6133	36	3	-	-	PUNCT
ajfa-6133	36	4	level	level	NOUN
ajfa-6133	36	5	accounting	accounting	NOUN
ajfa-6133	36	6	disclosure	disclosure	NOUN
ajfa-6133	36	7	and	and	CCONJ
ajfa-6133	36	8	corporate	corporate	ADJ
ajfa-6133	36	9	governance	governance	NOUN
ajfa-6133	36	10	data	datum	NOUN
ajfa-6133	36	11	is	be	AUX
ajfa-6133	36	12	from	from	ADP
ajfa-6133	36	13	the	the	DET
ajfa-6133	36	14	survey	survey	NOUN
ajfa-6133	36	15	data	datum	NOUN
ajfa-6133	36	16	conducted	conduct	VERB
ajfa-6133	36	17	by	by	ADP
ajfa-6133	36	18	credit	credit	NOUN
ajfa-6133	36	19	lyonnais	lyonnais	PROPN
ajfa-6133	36	20	securities	securities	PROPN
ajfa-6133	36	21	asia	asia	PROPN
ajfa-6133	36	22	.	.	PUNCT
ajfa-6133	37	1	the	the	DET
ajfa-6133	37	2	variable	variable	ADJ
ajfa-6133	37	3	accounting	accounting	NOUN
ajfa-6133	37	4	-	-	PUNCT
ajfa-6133	37	5	disclosure	disclosure	NOUN
ajfa-6133	37	6	measures	measure	NOUN
ajfa-6133	37	7	the	the	DET
ajfa-6133	37	8	firms	firm	NOUN
ajfa-6133	37	9	’	’	PART
ajfa-6133	37	10	accounting	accounting	NOUN
ajfa-6133	37	11	disclosure	disclosure	NOUN
ajfa-6133	37	12	level	level	NOUN
ajfa-6133	37	13	such	such	ADJ
ajfa-6133	37	14	as	as	ADP
ajfa-6133	37	15	whether	whether	SCONJ
ajfa-6133	37	16	the	the	DET
ajfa-6133	37	17	firms	firm	NOUN
ajfa-6133	37	18	have	have	AUX
ajfa-6133	37	19	disclosed	disclose	VERB
ajfa-6133	37	20	their	their	PRON
ajfa-6133	37	21	roa	roa	NOUN
ajfa-6133	37	22	in	in	ADP
ajfa-6133	37	23	the	the	DET
ajfa-6133	37	24	previous	previous	ADJ
ajfa-6133	37	25	years	year	NOUN
ajfa-6133	37	26	.	.	PUNCT
ajfa-6133	38	1	the	the	DET
ajfa-6133	38	2	variable	variable	ADJ
ajfa-6133	38	3	firm	firm	ADJ
ajfa-6133	38	4	-	-	PUNCT
ajfa-6133	38	5	governance	governance	NOUN
ajfa-6133	38	6	captures	capture	VERB
ajfa-6133	38	7	non	non	ADJ
ajfa-6133	38	8	-	-	ADJ
ajfa-6133	38	9	disclosure	disclosure	ADJ
ajfa-6133	38	10	governance	governance	NOUN
ajfa-6133	38	11	level	level	NOUN
ajfa-6133	38	12	such	such	ADJ
ajfa-6133	38	13	as	as	ADP
ajfa-6133	38	14	the	the	DET
ajfa-6133	38	15	board	board	NOUN
ajfa-6133	38	16	structure	structure	NOUN
ajfa-6133	38	17	of	of	ADP
ajfa-6133	38	18	the	the	DET
ajfa-6133	38	19	firms	firm	NOUN
ajfa-6133	38	20	.	.	PUNCT
ajfa-6133	39	1	we	we	PRON
ajfa-6133	39	2	use	use	VERB
ajfa-6133	39	3	the	the	DET
ajfa-6133	39	4	three	three	NUM
ajfa-6133	39	5	country	country	NOUN
ajfa-6133	39	6	-	-	PUNCT
ajfa-6133	39	7	level	level	NOUN
ajfa-6133	39	8	governance	governance	NOUN
ajfa-6133	39	9	measures	measure	NOUN
ajfa-6133	39	10	such	such	ADJ
ajfa-6133	39	11	as	as	ADP
ajfa-6133	39	12	judicial	judicial	ADJ
ajfa-6133	39	13	efficiency	efficiency	NOUN
ajfa-6133	39	14	,	,	PUNCT
ajfa-6133	39	15	legality	legality	NOUN
ajfa-6133	39	16	,	,	PUNCT
ajfa-6133	39	17	and	and	CCONJ
ajfa-6133	39	18	shareholder	shareholder	NOUN
ajfa-6133	39	19	rights	right	NOUN
ajfa-6133	39	20	from	from	ADP
ajfa-6133	39	21	la	la	ADV
ajfa-6133	39	22	porta	porta	NOUN
ajfa-6133	39	23	et	et	PROPN
ajfa-6133	39	24	al	al	PROPN
ajfa-6133	39	25	.	.	PROPN
ajfa-6133	40	1	(	(	PUNCT
ajfa-6133	40	2	1998	1998	NUM
ajfa-6133	40	3	)	)	PUNCT
ajfa-6133	40	4	and	and	CCONJ
ajfa-6133	40	5	the	the	DET
ajfa-6133	40	6	international	international	ADJ
ajfa-6133	40	7	country	country	NOUN
ajfa-6133	40	8	risk	risk	NOUN
ajfa-6133	40	9	guide	guide	NOUN
ajfa-6133	40	10	(	(	PUNCT
ajfa-6133	40	11	2000	2000	NUM
ajfa-6133	40	12	)	)	PUNCT
ajfa-6133	40	13	.	.	PUNCT
ajfa-6133	41	1	we	we	PRON
ajfa-6133	41	2	obtain	obtain	VERB
ajfa-6133	41	3	our	our	PRON
ajfa-6133	41	4	dependent	dependent	ADJ
ajfa-6133	41	5	variable	variable	NOUN
ajfa-6133	41	6	from	from	ADP
ajfa-6133	41	7	worldscope	worldscope	NOUN
ajfa-6133	41	8	,	,	PUNCT
ajfa-6133	41	9	and	and	CCONJ
ajfa-6133	41	10	define	define	VERB
ajfa-6133	41	11	r&d	r&d	NOUN
ajfa-6133	41	12	as	as	ADP
ajfa-6133	41	13	the	the	DET
ajfa-6133	41	14	ratio	ratio	NOUN
ajfa-6133	41	15	of	of	ADP
ajfa-6133	41	16	a	a	DET
ajfa-6133	41	17	firm	firm	NOUN
ajfa-6133	41	18	’s	’s	PART
ajfa-6133	41	19	r&d	r&d	NOUN
ajfa-6133	41	20	expenditures	expenditure	NOUN
ajfa-6133	41	21	to	to	ADP
ajfa-6133	41	22	sales	sale	NOUN
ajfa-6133	41	23	.	.	PUNCT
ajfa-6133	42	1	we	we	PRON
ajfa-6133	42	2	also	also	ADV
ajfa-6133	42	3	include	include	VERB
ajfa-6133	42	4	the	the	DET
ajfa-6133	42	5	logarithm	logarithm	NOUN
ajfa-6133	42	6	of	of	ADP
ajfa-6133	42	7	firm	firm	ADJ
ajfa-6133	42	8	assets	asset	NOUN
ajfa-6133	42	9	,	,	PUNCT
ajfa-6133	42	10	total	total	ADJ
ajfa-6133	42	11	liability	liability	NOUN
ajfa-6133	42	12	,	,	PUNCT
ajfa-6133	42	13	accounting	accounting	NOUN
ajfa-6133	42	14	earnings	earning	NOUN
ajfa-6133	42	15	,	,	PUNCT
ajfa-6133	42	16	gdp	gdp	NOUN
ajfa-6133	42	17	growth	growth	NOUN
ajfa-6133	42	18	,	,	PUNCT
ajfa-6133	42	19	gdp	gdp	NOUN
ajfa-6133	42	20	per	per	ADP
ajfa-6133	42	21	capita	capita	NOUN
ajfa-6133	42	22	.	.	PUNCT
ajfa-6133	43	1	our	our	PRON
ajfa-6133	43	2	sample	sample	NOUN
ajfa-6133	43	3	period	period	NOUN
ajfa-6133	43	4	is	be	AUX
ajfa-6133	43	5	between	between	ADP
ajfa-6133	43	6	2000	2000	NUM
ajfa-6133	43	7	and	and	CCONJ
ajfa-6133	43	8	2005	2005	NUM
ajfa-6133	43	9	.	.	PUNCT
ajfa-6133	44	1	our	our	PRON
ajfa-6133	44	2	final	final	ADJ
ajfa-6133	44	3	sample	sample	NOUN
ajfa-6133	44	4	includes	include	VERB
ajfa-6133	44	5	807	807	NUM
ajfa-6133	44	6	observations	observation	NOUN
ajfa-6133	44	7	in	in	ADP
ajfa-6133	44	8	fourteen	fourteen	NUM
ajfa-6133	44	9	emerging	emerge	VERB
ajfa-6133	44	10	markets	market	NOUN
ajfa-6133	44	11	.	.	PUNCT
ajfa-6133	45	1	we	we	PRON
ajfa-6133	45	2	present	present	VERB
ajfa-6133	45	3	summary	summary	NOUN
ajfa-6133	45	4	statistics	statistic	NOUN
ajfa-6133	45	5	in	in	ADP
ajfa-6133	45	6	table	table	NOUN
ajfa-6133	45	7	1	1	NUM
ajfa-6133	45	8	.	.	PUNCT
ajfa-6133	46	1	as	as	SCONJ
ajfa-6133	46	2	shown	show	VERB
ajfa-6133	46	3	in	in	ADP
ajfa-6133	46	4	table	table	NOUN
ajfa-6133	46	5	1	1	NUM
ajfa-6133	46	6	,	,	PUNCT
ajfa-6133	46	7	the	the	DET
ajfa-6133	46	8	mean	mean	ADJ
ajfa-6133	46	9	value	value	NOUN
ajfa-6133	46	10	of	of	ADP
ajfa-6133	46	11	the	the	DET
ajfa-6133	46	12	variable	variable	ADJ
ajfa-6133	46	13	accounting	accounting	NOUN
ajfa-6133	46	14	-	-	PUNCT
ajfa-6133	46	15	disclosure	disclosure	NOUN
ajfa-6133	46	16	is	be	AUX
ajfa-6133	46	17	equal	equal	ADJ
ajfa-6133	46	18	to	to	ADP
ajfa-6133	46	19	59.01	59.01	NUM
ajfa-6133	46	20	and	and	CCONJ
ajfa-6133	46	21	its	its	PRON
ajfa-6133	46	22	standard	standard	ADJ
ajfa-6133	46	23	deviation	deviation	NOUN
ajfa-6133	46	24	equals	equal	VERB
ajfa-6133	46	25	21.32	21.32	NUM
ajfa-6133	46	26	.	.	PUNCT
ajfa-6133	47	1	the	the	DET
ajfa-6133	47	2	mean	mean	ADJ
ajfa-6133	47	3	value	value	NOUN
ajfa-6133	47	4	of	of	ADP
ajfa-6133	47	5	the	the	DET
ajfa-6133	47	6	variable	variable	ADJ
ajfa-6133	47	7	firm	firm	NOUN
ajfa-6133	47	8	-	-	PUNCT
ajfa-6133	47	9	governance	governance	NOUN
ajfa-6133	47	10	is	be	AUX
ajfa-6133	47	11	equal	equal	ADJ
ajfa-6133	47	12	to	to	ADP
ajfa-6133	47	13	58.02	58.02	NUM
ajfa-6133	47	14	and	and	CCONJ
ajfa-6133	47	15	its	its	PRON
ajfa-6133	47	16	standard	standard	ADJ
ajfa-6133	47	17	deviation	deviation	NOUN
ajfa-6133	47	18	equals	equal	VERB
ajfa-6133	47	19	22.24	22.24	NUM
ajfa-6133	47	20	.	.	PUNCT
ajfa-6133	48	1	the	the	DET
ajfa-6133	48	2	mean	mean	ADJ
ajfa-6133	48	3	value	value	NOUN
ajfa-6133	48	4	of	of	ADP
ajfa-6133	48	5	the	the	DET
ajfa-6133	48	6	variable	variable	ADJ
ajfa-6133	48	7	log	log	NOUN
ajfa-6133	48	8	-	-	PUNCT
ajfa-6133	48	9	gdp	gdp	NOUN
ajfa-6133	48	10	-	-	PUNCT
ajfa-6133	48	11	per	per	ADP
ajfa-6133	48	12	-	-	PUNCT
ajfa-6133	48	13	capita	capita	NOUN
ajfa-6133	48	14	is	be	AUX
ajfa-6133	48	15	equal	equal	ADJ
ajfa-6133	48	16	to	to	ADP
ajfa-6133	48	17	8.21	8.21	NUM
ajfa-6133	48	18	and	and	CCONJ
ajfa-6133	48	19	its	its	PRON
ajfa-6133	48	20	standard	standard	ADJ
ajfa-6133	48	21	deviation	deviation	NOUN
ajfa-6133	48	22	equals	equal	VERB
ajfa-6133	48	23	1.22	1.22	NUM
ajfa-6133	48	24	.	.	PUNCT
ajfa-6133	49	1	the	the	DET
ajfa-6133	49	2	mean	mean	ADJ
ajfa-6133	49	3	value	value	NOUN
ajfa-6133	49	4	of	of	ADP
ajfa-6133	49	5	the	the	DET
ajfa-6133	49	6	variable	variable	ADJ
ajfa-6133	49	7	log	log	NOUN
ajfa-6133	49	8	-	-	PUNCT
ajfa-6133	49	9	gdp	gdp	NOUN
ajfa-6133	49	10	-	-	PUNCT
ajfa-6133	49	11	growth	growth	NOUN
ajfa-6133	49	12	is	be	AUX
ajfa-6133	49	13	equal	equal	ADJ
ajfa-6133	49	14	to	to	ADP
ajfa-6133	49	15	1.61	1.61	NUM
ajfa-6133	49	16	and	and	CCONJ
ajfa-6133	49	17	its	its	PRON
ajfa-6133	49	18	standard	standard	ADJ
ajfa-6133	49	19	deviation	deviation	NOUN
ajfa-6133	49	20	equals	equal	VERB
ajfa-6133	49	21	0.32	0.32	NUM
ajfa-6133	49	22	.	.	PUNCT
ajfa-6133	50	1	the	the	DET
ajfa-6133	50	2	mean	mean	ADJ
ajfa-6133	50	3	value	value	NOUN
ajfa-6133	50	4	of	of	ADP
ajfa-6133	50	5	the	the	DET
ajfa-6133	50	6	variable	variable	ADJ
ajfa-6133	50	7	log	log	NOUN
ajfa-6133	50	8	-	-	PUNCT
ajfa-6133	50	9	assets	asset	NOUN
ajfa-6133	50	10	is	be	AUX
ajfa-6133	50	11	equal	equal	ADJ
ajfa-6133	50	12	to	to	ADP
ajfa-6133	50	13	14.11	14.11	NUM
ajfa-6133	50	14	and	and	CCONJ
ajfa-6133	50	15	its	its	PRON
ajfa-6133	50	16	standard	standard	ADJ
ajfa-6133	50	17	deviation	deviation	NOUN
ajfa-6133	50	18	equals	equal	VERB
ajfa-6133	50	19	1.41	1.41	NUM
ajfa-6133	50	20	.	.	PUNCT
ajfa-6133	51	1	the	the	DET
ajfa-6133	51	2	mean	mean	ADJ
ajfa-6133	51	3	value	value	NOUN
ajfa-6133	51	4	of	of	ADP
ajfa-6133	51	5	the	the	DET
ajfa-6133	51	6	variable	variable	ADJ
ajfa-6133	51	7	total	total	ADJ
ajfa-6133	51	8	-	-	PUNCT
ajfa-6133	51	9	liability	liability	NOUN
ajfa-6133	51	10	is	be	AUX
ajfa-6133	51	11	equal	equal	ADJ
ajfa-6133	51	12	to	to	ADP
ajfa-6133	51	13	22.43	22.43	NUM
ajfa-6133	51	14	and	and	CCONJ
ajfa-6133	51	15	its	its	PRON
ajfa-6133	51	16	standard	standard	ADJ
ajfa-6133	51	17	deviation	deviation	NOUN
ajfa-6133	51	18	equals	equal	VERB
ajfa-6133	51	19	19.53	19.53	NUM
ajfa-6133	51	20	.	.	PUNCT
ajfa-6133	52	1	the	the	DET
ajfa-6133	52	2	mean	mean	ADJ
ajfa-6133	52	3	value	value	NOUN
ajfa-6133	52	4	of	of	ADP
ajfa-6133	52	5	the	the	DET
ajfa-6133	52	6	variable	variable	ADJ
ajfa-6133	52	7	accounting	accounting	NOUN
ajfa-6133	52	8	-	-	PUNCT
ajfa-6133	52	9	earnings	earning	NOUN
ajfa-6133	52	10	is	be	AUX
ajfa-6133	52	11	equal	equal	ADJ
ajfa-6133	52	12	to	to	ADP
ajfa-6133	52	13	14.91	14.91	NUM
ajfa-6133	52	14	and	and	CCONJ
ajfa-6133	52	15	its	its	PRON
ajfa-6133	52	16	standard	standard	ADJ
ajfa-6133	52	17	deviation	deviation	NOUN
ajfa-6133	52	18	equals	equal	VERB
ajfa-6133	52	19	23.61	23.61	NUM
ajfa-6133	52	20	.	.	PUNCT
ajfa-6133	53	1	the	the	DET
ajfa-6133	53	2	mean	mean	ADJ
ajfa-6133	53	3	value	value	NOUN
ajfa-6133	53	4	of	of	ADP
ajfa-6133	53	5	the	the	DET
ajfa-6133	53	6	variable	variable	ADJ
ajfa-6133	53	7	company	company	NOUN
ajfa-6133	53	8	-	-	PUNCT
ajfa-6133	53	9	r&d	r&d	NOUN
ajfa-6133	53	10	is	be	AUX
ajfa-6133	53	11	equal	equal	ADJ
ajfa-6133	53	12	to	to	ADP
ajfa-6133	53	13	2.71	2.71	NUM
ajfa-6133	53	14	and	and	CCONJ
ajfa-6133	53	15	its	its	PRON
ajfa-6133	53	16	standard	standard	ADJ
ajfa-6133	53	17	deviation	deviation	NOUN
ajfa-6133	53	18	equals	equal	VERB
ajfa-6133	53	19	1.22	1.22	NUM
ajfa-6133	53	20	.	.	PUNCT
ajfa-6133	54	1	asian	asian	ADJ
ajfa-6133	54	2	journal	journal	PROPN
ajfa-6133	54	3	of	of	ADP
ajfa-6133	54	4	finance	finance	PROPN
ajfa-6133	54	5	&	&	CCONJ
ajfa-6133	54	6	accounting	accounting	PROPN
ajfa-6133	54	7	issn	issn	PROPN
ajfa-6133	54	8	1946	1946	NUM
ajfa-6133	54	9	-	-	PUNCT
ajfa-6133	54	10	052x	052x	PROPN
ajfa-6133	54	11	2014	2014	NUM
ajfa-6133	54	12	,	,	PUNCT
ajfa-6133	54	13	vol	vol	NOUN
ajfa-6133	54	14	.	.	PROPN
ajfa-6133	55	1	6	6	NUM
ajfa-6133	55	2	,	,	PUNCT
ajfa-6133	55	3	no	no	INTJ
ajfa-6133	55	4	.	.	NOUN
ajfa-6133	55	5	2	2	NUM
ajfa-6133	55	6	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-6133	55	7	146	146	NUM
ajfa-6133	55	8	table	table	NOUN
ajfa-6133	55	9	1	1	NUM
ajfa-6133	55	10	.	.	PUNCT
ajfa-6133	56	1	summary	summary	NOUN
ajfa-6133	56	2	statistics	statistic	NOUN
ajfa-6133	56	3	mean	mean	VERB
ajfa-6133	56	4	standard	standard	ADJ
ajfa-6133	56	5	10th	10th	ADJ
ajfa-6133	56	6	50th	50th	ADJ
ajfa-6133	56	7	90th	90th	NOUN
ajfa-6133	56	8	deviation	deviation	NOUN
ajfa-6133	56	9	percentile	percentile	ADJ
ajfa-6133	56	10	percentile	percentile	ADJ
ajfa-6133	56	11	percentile	percentile	ADJ
ajfa-6133	56	12	accounting	accounting	NOUN
ajfa-6133	56	13	-	-	PUNCT
ajfa-6133	56	14	disclosure	disclosure	NOUN
ajfa-6133	56	15	59.01	59.01	NUM
ajfa-6133	56	16	21.32	21.32	NUM
ajfa-6133	56	17	20	20	NUM
ajfa-6133	56	18	50	50	NUM
ajfa-6133	56	19	90	90	NUM
ajfa-6133	56	20	firm	firm	ADJ
ajfa-6133	56	21	-	-	PUNCT
ajfa-6133	56	22	governance	governance	NOUN
ajfa-6133	56	23	58.02	58.02	NUM
ajfa-6133	56	24	22.24	22.24	NUM
ajfa-6133	56	25	30	30	NUM
ajfa-6133	56	26	50	50	NUM
ajfa-6133	56	27	80	80	NUM
ajfa-6133	56	28	log	log	NOUN
ajfa-6133	56	29	-	-	PUNCT
ajfa-6133	56	30	gdp	gdp	NOUN
ajfa-6133	56	31	-	-	PUNCT
ajfa-6133	56	32	per	per	ADP
ajfa-6133	56	33	-	-	PUNCT
ajfa-6133	56	34	capita	capita	NOUN
ajfa-6133	56	35	8.21	8.21	NUM
ajfa-6133	56	36	1.22	1.22	NUM
ajfa-6133	56	37	6.62	6.62	NUM
ajfa-6133	56	38	8.21	8.21	NUM
ajfa-6133	56	39	10.02	10.02	NUM
ajfa-6133	56	40	log	log	NOUN
ajfa-6133	56	41	-	-	PUNCT
ajfa-6133	56	42	gdp	gdp	NOUN
ajfa-6133	56	43	-	-	PUNCT
ajfa-6133	56	44	growth	growth	NOUN
ajfa-6133	56	45	1.61	1.61	NUM
ajfa-6133	56	46	0.32	0.32	NUM
ajfa-6133	56	47	1.20	1.20	NUM
ajfa-6133	56	48	1.61	1.61	NUM
ajfa-6133	56	49	2.02	2.02	NUM
ajfa-6133	56	50	log	log	NOUN
ajfa-6133	56	51	-	-	PUNCT
ajfa-6133	56	52	assets	asset	NOUN
ajfa-6133	56	53	14.11	14.11	NUM
ajfa-6133	56	54	1.41	1.41	NUM
ajfa-6133	56	55	12.44	12.44	NUM
ajfa-6133	56	56	14.11	14.11	NUM
ajfa-6133	56	57	16.01	16.01	NUM
ajfa-6133	56	58	total	total	ADJ
ajfa-6133	56	59	-	-	PUNCT
ajfa-6133	56	60	liability	liability	NOUN
ajfa-6133	56	61	(	(	PUNCT
ajfa-6133	56	62	%	%	NOUN
ajfa-6133	56	63	)	)	PUNCT
ajfa-6133	56	64	22.43	22.43	NUM
ajfa-6133	56	65	19.53	19.53	NUM
ajfa-6133	56	66	0.30	0.30	NUM
ajfa-6133	56	67	19.21	19.21	NUM
ajfa-6133	56	68	49.42	49.42	NUM
ajfa-6133	56	69	accounting	accounting	NOUN
ajfa-6133	56	70	-	-	PUNCT
ajfa-6133	56	71	earnings	earning	NOUN
ajfa-6133	56	72	(	(	PUNCT
ajfa-6133	56	73	%	%	NOUN
ajfa-6133	56	74	)	)	PUNCT
ajfa-6133	56	75	14.91	14.91	NUM
ajfa-6133	56	76	23.61	23.61	NUM
ajfa-6133	56	77	2.27	2.27	NUM
ajfa-6133	56	78	10.06	10.06	NUM
ajfa-6133	56	79	29.34	29.34	NUM
ajfa-6133	56	80	company	company	NOUN
ajfa-6133	56	81	-	-	PUNCT
ajfa-6133	56	82	r&d	r&d	NOUN
ajfa-6133	56	83	(	(	PUNCT
ajfa-6133	56	84	%	%	NOUN
ajfa-6133	56	85	)	)	PUNCT
ajfa-6133	56	86	2.71	2.71	NUM
ajfa-6133	56	87	1.22	1.22	NUM
ajfa-6133	56	88	1.50	1.50	NUM
ajfa-6133	56	89	2.51	2.51	NUM
ajfa-6133	56	90	3.58	3.58	NUM
ajfa-6133	56	91	the	the	DET
ajfa-6133	56	92	table	table	NOUN
ajfa-6133	56	93	reports	report	NOUN
ajfa-6133	56	94	summary	summary	NOUN
ajfa-6133	56	95	statistics	statistic	NOUN
ajfa-6133	56	96	.	.	PUNCT
ajfa-6133	57	1	our	our	PRON
ajfa-6133	57	2	firm	firm	ADJ
ajfa-6133	57	3	-	-	PUNCT
ajfa-6133	57	4	level	level	NOUN
ajfa-6133	57	5	accounting	accounting	NOUN
ajfa-6133	57	6	disclosure	disclosure	NOUN
ajfa-6133	57	7	and	and	CCONJ
ajfa-6133	57	8	corporate	corporate	ADJ
ajfa-6133	57	9	governance	governance	NOUN
ajfa-6133	57	10	data	datum	NOUN
ajfa-6133	57	11	is	be	AUX
ajfa-6133	57	12	from	from	ADP
ajfa-6133	57	13	the	the	DET
ajfa-6133	57	14	survey	survey	NOUN
ajfa-6133	57	15	data	datum	NOUN
ajfa-6133	57	16	by	by	ADP
ajfa-6133	57	17	credit	credit	NOUN
ajfa-6133	57	18	lyonnais	lyonnais	PROPN
ajfa-6133	57	19	securities	securities	PROPN
ajfa-6133	57	20	asia	asia	PROPN
ajfa-6133	57	21	.	.	PUNCT
ajfa-6133	58	1	we	we	PRON
ajfa-6133	58	2	obtain	obtain	VERB
ajfa-6133	58	3	our	our	PRON
ajfa-6133	58	4	dependent	dependent	ADJ
ajfa-6133	58	5	variable	variable	NOUN
ajfa-6133	58	6	from	from	ADP
ajfa-6133	58	7	worldscope	worldscope	NOUN
ajfa-6133	58	8	,	,	PUNCT
ajfa-6133	58	9	and	and	CCONJ
ajfa-6133	58	10	define	define	VERB
ajfa-6133	58	11	r&d	r&d	NOUN
ajfa-6133	58	12	as	as	ADP
ajfa-6133	58	13	the	the	DET
ajfa-6133	58	14	ratio	ratio	NOUN
ajfa-6133	58	15	of	of	ADP
ajfa-6133	58	16	a	a	DET
ajfa-6133	58	17	firm	firm	NOUN
ajfa-6133	58	18	’s	’s	PART
ajfa-6133	58	19	r&d	r&d	NOUN
ajfa-6133	58	20	expenditures	expenditure	NOUN
ajfa-6133	58	21	to	to	ADP
ajfa-6133	58	22	sales	sale	NOUN
ajfa-6133	58	23	.	.	PUNCT
ajfa-6133	59	1	we	we	PRON
ajfa-6133	59	2	also	also	ADV
ajfa-6133	59	3	control	control	VERB
ajfa-6133	59	4	for	for	ADP
ajfa-6133	59	5	the	the	DET
ajfa-6133	59	6	logarithm	logarithm	NOUN
ajfa-6133	59	7	of	of	ADP
ajfa-6133	59	8	firm	firm	ADJ
ajfa-6133	59	9	assets	asset	NOUN
ajfa-6133	59	10	,	,	PUNCT
ajfa-6133	59	11	total	total	ADJ
ajfa-6133	59	12	liability	liability	NOUN
ajfa-6133	59	13	,	,	PUNCT
ajfa-6133	59	14	accounting	accounting	NOUN
ajfa-6133	59	15	earnings	earning	NOUN
ajfa-6133	59	16	,	,	PUNCT
ajfa-6133	59	17	gdp	gdp	NOUN
ajfa-6133	59	18	growth	growth	NOUN
ajfa-6133	59	19	,	,	PUNCT
ajfa-6133	59	20	gdp	gdp	NOUN
ajfa-6133	59	21	per	per	ADP
ajfa-6133	59	22	capita	capita	NOUN
ajfa-6133	59	23	.	.	PUNCT
ajfa-6133	60	1	our	our	PRON
ajfa-6133	60	2	sample	sample	NOUN
ajfa-6133	60	3	period	period	NOUN
ajfa-6133	60	4	is	be	AUX
ajfa-6133	60	5	between	between	ADP
ajfa-6133	60	6	2000	2000	NUM
ajfa-6133	60	7	and	and	CCONJ
ajfa-6133	60	8	2005	2005	NUM
ajfa-6133	60	9	.	.	PUNCT
ajfa-6133	61	1	our	our	PRON
ajfa-6133	61	2	final	final	ADJ
ajfa-6133	61	3	sample	sample	NOUN
ajfa-6133	61	4	includes	include	VERB
ajfa-6133	61	5	807	807	NUM
ajfa-6133	61	6	observations	observation	NOUN
ajfa-6133	61	7	in	in	ADP
ajfa-6133	61	8	fourteen	fourteen	NUM
ajfa-6133	61	9	emerging	emerge	VERB
ajfa-6133	61	10	markets	market	NOUN
ajfa-6133	61	11	.	.	PUNCT
ajfa-6133	62	1	3	3	X
ajfa-6133	62	2	.	.	X
ajfa-6133	62	3	methods	method	NOUN
ajfa-6133	62	4	and	and	CCONJ
ajfa-6133	62	5	results	result	VERB
ajfa-6133	62	6	the	the	DET
ajfa-6133	62	7	summary	summary	NOUN
ajfa-6133	62	8	statistics	statistic	NOUN
ajfa-6133	62	9	presented	present	VERB
ajfa-6133	62	10	in	in	ADP
ajfa-6133	62	11	the	the	DET
ajfa-6133	62	12	previous	previous	ADJ
ajfa-6133	62	13	section	section	NOUN
ajfa-6133	62	14	show	show	VERB
ajfa-6133	62	15	significant	significant	ADJ
ajfa-6133	62	16	differences	difference	NOUN
ajfa-6133	62	17	in	in	ADP
ajfa-6133	62	18	innovation	innovation	NOUN
ajfa-6133	62	19	activities	activity	NOUN
ajfa-6133	62	20	across	across	ADP
ajfa-6133	62	21	emerging	emerge	VERB
ajfa-6133	62	22	markets	market	NOUN
ajfa-6133	62	23	.	.	PUNCT
ajfa-6133	63	1	we	we	PRON
ajfa-6133	63	2	next	next	ADV
ajfa-6133	63	3	conduct	conduct	VERB
ajfa-6133	63	4	a	a	DET
ajfa-6133	63	5	more	more	ADV
ajfa-6133	63	6	formal	formal	ADJ
ajfa-6133	63	7	investigation	investigation	NOUN
ajfa-6133	63	8	,	,	PUNCT
ajfa-6133	63	9	and	and	CCONJ
ajfa-6133	63	10	employ	employ	VERB
ajfa-6133	63	11	the	the	DET
ajfa-6133	63	12	multivariate	multivariate	NOUN
ajfa-6133	63	13	analysis	analysis	NOUN
ajfa-6133	63	14	to	to	PART
ajfa-6133	63	15	examine	examine	VERB
ajfa-6133	63	16	how	how	SCONJ
ajfa-6133	63	17	investor	investor	NOUN
ajfa-6133	63	18	protection	protection	NOUN
ajfa-6133	63	19	resulted	result	VERB
ajfa-6133	63	20	from	from	ADP
ajfa-6133	63	21	country	country	NOUN
ajfa-6133	63	22	-	-	PUNCT
ajfa-6133	63	23	level	level	NOUN
ajfa-6133	63	24	and	and	CCONJ
ajfa-6133	63	25	firm	firm	ADJ
ajfa-6133	63	26	-	-	PUNCT
ajfa-6133	63	27	level	level	NOUN
ajfa-6133	63	28	governance	governance	NOUN
ajfa-6133	63	29	standards	standard	NOUN
ajfa-6133	63	30	influence	influence	VERB
ajfa-6133	63	31	the	the	DET
ajfa-6133	63	32	relationship	relationship	NOUN
ajfa-6133	63	33	between	between	ADP
ajfa-6133	63	34	market	market	NOUN
ajfa-6133	63	35	disciplines	discipline	NOUN
ajfa-6133	63	36	resulted	result	VERB
ajfa-6133	63	37	from	from	ADP
ajfa-6133	63	38	firm	firm	ADJ
ajfa-6133	63	39	-	-	PUNCT
ajfa-6133	63	40	level	level	NOUN
ajfa-6133	63	41	accounting	accounting	NOUN
ajfa-6133	63	42	disclosure	disclosure	NOUN
ajfa-6133	63	43	and	and	CCONJ
ajfa-6133	63	44	innovation	innovation	NOUN
ajfa-6133	63	45	activities	activity	NOUN
ajfa-6133	63	46	.	.	PUNCT
ajfa-6133	64	1	the	the	DET
ajfa-6133	64	2	existing	exist	VERB
ajfa-6133	64	3	literature	literature	NOUN
ajfa-6133	64	4	has	have	AUX
ajfa-6133	64	5	shown	show	VERB
ajfa-6133	64	6	the	the	DET
ajfa-6133	64	7	effects	effect	NOUN
ajfa-6133	64	8	of	of	ADP
ajfa-6133	64	9	accounting	accounting	NOUN
ajfa-6133	64	10	disclosure	disclosure	NOUN
ajfa-6133	64	11	in	in	ADP
ajfa-6133	64	12	the	the	DET
ajfa-6133	64	13	emerging	emerge	VERB
ajfa-6133	64	14	markets	market	NOUN
ajfa-6133	64	15	.	.	PUNCT
ajfa-6133	65	1	for	for	ADP
ajfa-6133	65	2	example	example	NOUN
ajfa-6133	65	3	,	,	PUNCT
ajfa-6133	65	4	hasan	hasan	PROPN
ajfa-6133	65	5	and	and	CCONJ
ajfa-6133	65	6	song	song	NOUN
ajfa-6133	65	7	(	(	PUNCT
ajfa-6133	65	8	2014	2014	NUM
ajfa-6133	65	9	)	)	PUNCT
ajfa-6133	65	10	present	present	VERB
ajfa-6133	65	11	the	the	DET
ajfa-6133	65	12	evidence	evidence	NOUN
ajfa-6133	65	13	that	that	PRON
ajfa-6133	65	14	banks	bank	NOUN
ajfa-6133	65	15	provide	provide	VERB
ajfa-6133	65	16	better	well	ADJ
ajfa-6133	65	17	loan	loan	NOUN
ajfa-6133	65	18	contracting	contracting	NOUN
ajfa-6133	65	19	terms	term	NOUN
ajfa-6133	65	20	to	to	ADP
ajfa-6133	65	21	firms	firm	NOUN
ajfa-6133	65	22	with	with	ADP
ajfa-6133	65	23	better	well	ADJ
ajfa-6133	65	24	disclosure	disclosure	NOUN
ajfa-6133	65	25	standards	standard	NOUN
ajfa-6133	65	26	.	.	PUNCT
ajfa-6133	66	1	they	they	PRON
ajfa-6133	66	2	also	also	ADV
ajfa-6133	66	3	find	find	VERB
ajfa-6133	66	4	that	that	SCONJ
ajfa-6133	66	5	the	the	DET
ajfa-6133	66	6	influence	influence	NOUN
ajfa-6133	66	7	of	of	ADP
ajfa-6133	66	8	accounting	accounting	NOUN
ajfa-6133	66	9	disclosure	disclosure	NOUN
ajfa-6133	66	10	on	on	ADP
ajfa-6133	66	11	the	the	DET
ajfa-6133	66	12	loan	loan	NOUN
ajfa-6133	66	13	contracts	contract	NOUN
ajfa-6133	66	14	is	be	AUX
ajfa-6133	66	15	more	more	ADV
ajfa-6133	66	16	significant	significant	ADJ
ajfa-6133	66	17	for	for	ADP
ajfa-6133	66	18	firms	firm	NOUN
ajfa-6133	66	19	with	with	ADP
ajfa-6133	66	20	superior	superior	ADJ
ajfa-6133	66	21	governance	governance	NOUN
ajfa-6133	66	22	environment	environment	NOUN
ajfa-6133	66	23	.	.	PUNCT
ajfa-6133	67	1	hasan	hasan	PROPN
ajfa-6133	67	2	et	et	PROPN
ajfa-6133	67	3	al	al	PROPN
ajfa-6133	67	4	.	.	PROPN
ajfa-6133	67	5	,	,	PUNCT
ajfa-6133	67	6	(	(	PUNCT
ajfa-6133	67	7	2014b	2014b	NUM
ajfa-6133	67	8	)	)	PUNCT
ajfa-6133	67	9	present	present	VERB
ajfa-6133	67	10	the	the	DET
ajfa-6133	67	11	evidence	evidence	NOUN
ajfa-6133	67	12	that	that	SCONJ
ajfa-6133	67	13	borrowers	borrower	NOUN
ajfa-6133	67	14	’	'	PUNCT
ajfa-6133	67	15	better	well	ADJ
ajfa-6133	67	16	disclosure	disclosure	NOUN
ajfa-6133	67	17	standards	standard	NOUN
ajfa-6133	67	18	have	have	AUX
ajfa-6133	67	19	a	a	DET
ajfa-6133	67	20	significant	significant	ADJ
ajfa-6133	67	21	impact	impact	NOUN
ajfa-6133	67	22	on	on	ADP
ajfa-6133	67	23	bank	bank	NOUN
ajfa-6133	67	24	loan	loan	NOUN
ajfa-6133	67	25	syndicates	syndicate	NOUN
ajfa-6133	67	26	.	.	PUNCT
ajfa-6133	68	1	they	they	PRON
ajfa-6133	68	2	also	also	ADV
ajfa-6133	68	3	find	find	VERB
ajfa-6133	68	4	that	that	SCONJ
ajfa-6133	68	5	the	the	DET
ajfa-6133	68	6	influence	influence	NOUN
ajfa-6133	68	7	of	of	ADP
ajfa-6133	68	8	accounting	accounting	NOUN
ajfa-6133	68	9	disclosure	disclosure	NOUN
ajfa-6133	68	10	on	on	ADP
ajfa-6133	68	11	the	the	DET
ajfa-6133	68	12	loan	loan	NOUN
ajfa-6133	68	13	syndicates	syndicate	NOUN
ajfa-6133	68	14	is	be	AUX
ajfa-6133	68	15	more	more	ADV
ajfa-6133	68	16	significant	significant	ADJ
ajfa-6133	68	17	for	for	ADP
ajfa-6133	68	18	firms	firm	NOUN
ajfa-6133	68	19	with	with	ADP
ajfa-6133	68	20	superior	superior	ADJ
ajfa-6133	68	21	governance	governance	NOUN
ajfa-6133	68	22	environment	environment	NOUN
ajfa-6133	68	23	.	.	PUNCT
ajfa-6133	69	1	hasan	hasan	PROPN
ajfa-6133	69	2	et	et	PROPN
ajfa-6133	69	3	al	al	PROPN
ajfa-6133	69	4	.	.	PROPN
ajfa-6133	69	5	,	,	PUNCT
ajfa-6133	69	6	(	(	PUNCT
ajfa-6133	69	7	2014a	2014a	NUM
ajfa-6133	69	8	)	)	PUNCT
ajfa-6133	69	9	use	use	VERB
ajfa-6133	69	10	a	a	DET
ajfa-6133	69	11	cross	cross	ADJ
ajfa-6133	69	12	-	-	ADJ
ajfa-6133	69	13	section	section	ADJ
ajfa-6133	69	14	sample	sample	NOUN
ajfa-6133	69	15	to	to	PART
ajfa-6133	69	16	present	present	VERB
ajfa-6133	69	17	the	the	DET
ajfa-6133	69	18	evidence	evidence	NOUN
ajfa-6133	69	19	that	that	SCONJ
ajfa-6133	69	20	firm	firm	ADJ
ajfa-6133	69	21	-	-	PUNCT
ajfa-6133	69	22	level	level	NOUN
ajfa-6133	69	23	corporate	corporate	ADJ
ajfa-6133	69	24	governance	governance	NOUN
ajfa-6133	69	25	and	and	CCONJ
ajfa-6133	69	26	country	country	NOUN
ajfa-6133	69	27	-	-	PUNCT
ajfa-6133	69	28	level	level	NOUN
ajfa-6133	69	29	governance	governance	NOUN
ajfa-6133	69	30	both	both	PRON
ajfa-6133	69	31	have	have	AUX
ajfa-6133	69	32	a	a	DET
ajfa-6133	69	33	significant	significant	ADJ
ajfa-6133	69	34	effect	effect	NOUN
ajfa-6133	69	35	on	on	ADP
ajfa-6133	69	36	innovation	innovation	NOUN
ajfa-6133	69	37	activities	activity	NOUN
ajfa-6133	69	38	.	.	PUNCT
ajfa-6133	70	1	although	although	SCONJ
ajfa-6133	70	2	the	the	DET
ajfa-6133	70	3	literature	literature	NOUN
ajfa-6133	70	4	has	have	AUX
ajfa-6133	70	5	addressed	address	VERB
ajfa-6133	70	6	the	the	DET
ajfa-6133	70	7	effects	effect	NOUN
ajfa-6133	70	8	of	of	ADP
ajfa-6133	70	9	market	market	NOUN
ajfa-6133	70	10	disciplines	discipline	NOUN
ajfa-6133	70	11	resulted	result	VERB
ajfa-6133	70	12	from	from	ADP
ajfa-6133	70	13	accounting	account	VERB
ajfa-6133	70	14	disclosure	disclosure	NOUN
ajfa-6133	70	15	on	on	ADP
ajfa-6133	70	16	innovation	innovation	NOUN
ajfa-6133	70	17	activities	activity	NOUN
ajfa-6133	70	18	,	,	PUNCT
ajfa-6133	70	19	there	there	PRON
ajfa-6133	70	20	is	be	VERB
ajfa-6133	70	21	little	little	ADJ
ajfa-6133	70	22	evidence	evidence	NOUN
ajfa-6133	70	23	of	of	ADP
ajfa-6133	70	24	whether	whether	SCONJ
ajfa-6133	70	25	the	the	DET
ajfa-6133	70	26	effects	effect	NOUN
ajfa-6133	70	27	asian	asian	ADJ
ajfa-6133	70	28	journal	journal	NOUN
ajfa-6133	70	29	of	of	ADP
ajfa-6133	70	30	finance	finance	PROPN
ajfa-6133	70	31	&	&	CCONJ
ajfa-6133	70	32	accounting	accounting	PROPN
ajfa-6133	70	33	issn	issn	PROPN
ajfa-6133	70	34	1946	1946	NUM
ajfa-6133	70	35	-	-	PUNCT
ajfa-6133	70	36	052x	052x	PROPN
ajfa-6133	70	37	2014	2014	NUM
ajfa-6133	70	38	,	,	PUNCT
ajfa-6133	70	39	vol	vol	NOUN
ajfa-6133	70	40	.	.	PROPN
ajfa-6133	70	41	6	6	NUM
ajfa-6133	70	42	,	,	PUNCT
ajfa-6133	70	43	no	no	INTJ
ajfa-6133	70	44	.	.	NOUN
ajfa-6133	70	45	2	2	NUM
ajfa-6133	70	46	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-6133	70	47	147	147	NUM
ajfa-6133	70	48	of	of	ADP
ajfa-6133	70	49	market	market	NOUN
ajfa-6133	70	50	disciplines	discipline	NOUN
ajfa-6133	70	51	are	be	AUX
ajfa-6133	70	52	more	more	ADV
ajfa-6133	70	53	important	important	ADJ
ajfa-6133	70	54	in	in	ADP
ajfa-6133	70	55	a	a	DET
ajfa-6133	70	56	country	country	NOUN
ajfa-6133	70	57	with	with	ADP
ajfa-6133	70	58	weaker	weak	ADJ
ajfa-6133	70	59	investor	investor	NOUN
ajfa-6133	70	60	protection	protection	NOUN
ajfa-6133	70	61	and	and	CCONJ
ajfa-6133	70	62	for	for	ADP
ajfa-6133	70	63	firms	firm	NOUN
ajfa-6133	70	64	with	with	ADP
ajfa-6133	70	65	poor	poor	ADJ
ajfa-6133	70	66	corporate	corporate	ADJ
ajfa-6133	70	67	governance	governance	NOUN
ajfa-6133	70	68	.	.	PUNCT
ajfa-6133	71	1	one	one	NUM
ajfa-6133	71	2	hypothesis	hypothesis	NOUN
ajfa-6133	71	3	is	be	AUX
ajfa-6133	71	4	that	that	SCONJ
ajfa-6133	71	5	if	if	SCONJ
ajfa-6133	71	6	governance	governance	NOUN
ajfa-6133	71	7	is	be	AUX
ajfa-6133	71	8	weak	weak	ADJ
ajfa-6133	71	9	,	,	PUNCT
ajfa-6133	71	10	then	then	ADV
ajfa-6133	71	11	accounting	accounting	NOUN
ajfa-6133	71	12	disclosure	disclosure	NOUN
ajfa-6133	71	13	is	be	AUX
ajfa-6133	71	14	less	less	ADV
ajfa-6133	71	15	credible	credible	ADJ
ajfa-6133	71	16	and	and	CCONJ
ajfa-6133	71	17	market	market	NOUN
ajfa-6133	71	18	disciplines	discipline	NOUN
ajfa-6133	71	19	are	be	AUX
ajfa-6133	71	20	less	less	ADV
ajfa-6133	71	21	effective	effective	ADJ
ajfa-6133	71	22	(	(	PUNCT
ajfa-6133	71	23	hasan	hasan	PROPN
ajfa-6133	71	24	and	and	CCONJ
ajfa-6133	71	25	song	song	NOUN
ajfa-6133	71	26	,	,	PUNCT
ajfa-6133	71	27	2014	2014	NUM
ajfa-6133	71	28	;	;	PUNCT
ajfa-6133	72	1	hasan	hasan	PROPN
ajfa-6133	72	2	et	et	PROPN
ajfa-6133	72	3	al	al	PROPN
ajfa-6133	72	4	.	.	PROPN
ajfa-6133	72	5	,	,	PUNCT
ajfa-6133	72	6	2014b	2014b	NUM
ajfa-6133	72	7	)	)	PUNCT
ajfa-6133	72	8	.	.	PUNCT
ajfa-6133	73	1	an	an	DET
ajfa-6133	73	2	alternative	alternative	ADJ
ajfa-6133	73	3	hypothesis	hypothesis	NOUN
ajfa-6133	73	4	is	be	AUX
ajfa-6133	73	5	that	that	SCONJ
ajfa-6133	73	6	if	if	SCONJ
ajfa-6133	73	7	the	the	DET
ajfa-6133	73	8	firm	firm	NOUN
ajfa-6133	73	9	is	be	AUX
ajfa-6133	73	10	located	locate	VERB
ajfa-6133	73	11	in	in	ADP
ajfa-6133	73	12	countries	country	NOUN
ajfa-6133	73	13	with	with	ADP
ajfa-6133	73	14	weak	weak	ADJ
ajfa-6133	73	15	legal	legal	ADJ
ajfa-6133	73	16	systems	system	NOUN
ajfa-6133	73	17	and	and	CCONJ
ajfa-6133	73	18	investor	investor	NOUN
ajfa-6133	73	19	protections	protection	NOUN
ajfa-6133	73	20	and	and	CCONJ
ajfa-6133	73	21	has	have	VERB
ajfa-6133	73	22	poor	poor	ADJ
ajfa-6133	73	23	corporate	corporate	ADJ
ajfa-6133	73	24	governance	governance	NOUN
ajfa-6133	73	25	,	,	PUNCT
ajfa-6133	73	26	shareholders	shareholder	NOUN
ajfa-6133	73	27	and	and	CCONJ
ajfa-6133	73	28	owners	owner	NOUN
ajfa-6133	73	29	would	would	AUX
ajfa-6133	73	30	welcome	welcome	VERB
ajfa-6133	73	31	even	even	ADV
ajfa-6133	73	32	small	small	ADJ
ajfa-6133	73	33	improvements	improvement	NOUN
ajfa-6133	73	34	in	in	ADP
ajfa-6133	73	35	market	market	NOUN
ajfa-6133	73	36	disciplines	discipline	NOUN
ajfa-6133	73	37	relative	relative	ADJ
ajfa-6133	73	38	to	to	ADP
ajfa-6133	73	39	other	other	ADJ
ajfa-6133	73	40	firms	firm	NOUN
ajfa-6133	73	41	(	(	PUNCT
ajfa-6133	73	42	klapper	klapper	NOUN
ajfa-6133	73	43	and	and	CCONJ
ajfa-6133	73	44	love	love	NOUN
ajfa-6133	73	45	,	,	PUNCT
ajfa-6133	73	46	2004	2004	NUM
ajfa-6133	73	47	)	)	PUNCT
ajfa-6133	73	48	.	.	PUNCT
ajfa-6133	74	1	we	we	PRON
ajfa-6133	74	2	use	use	VERB
ajfa-6133	74	3	r&d	r&d	NOUN
ajfa-6133	74	4	as	as	ADP
ajfa-6133	74	5	our	our	PRON
ajfa-6133	74	6	innovation	innovation	NOUN
ajfa-6133	74	7	measure	measure	NOUN
ajfa-6133	74	8	.	.	PUNCT
ajfa-6133	75	1	the	the	DET
ajfa-6133	75	2	key	key	ADJ
ajfa-6133	75	3	independent	independent	ADJ
ajfa-6133	75	4	variables	variable	NOUN
ajfa-6133	75	5	are	be	AUX
ajfa-6133	75	6	the	the	DET
ajfa-6133	75	7	interaction	interaction	NOUN
ajfa-6133	75	8	terms	term	NOUN
ajfa-6133	75	9	between	between	ADP
ajfa-6133	75	10	firm	firm	ADJ
ajfa-6133	75	11	-	-	PUNCT
ajfa-6133	75	12	level	level	NOUN
ajfa-6133	75	13	accounting	accounting	NOUN
ajfa-6133	75	14	disclosure	disclosure	NOUN
ajfa-6133	75	15	and	and	CCONJ
ajfa-6133	75	16	governance	governance	NOUN
ajfa-6133	75	17	variables	variable	NOUN
ajfa-6133	75	18	.	.	PUNCT
ajfa-6133	76	1	specifically	specifically	ADV
ajfa-6133	76	2	,	,	PUNCT
ajfa-6133	76	3	we	we	PRON
ajfa-6133	76	4	estimate	estimate	VERB
ajfa-6133	76	5	the	the	DET
ajfa-6133	76	6	following	follow	VERB
ajfa-6133	76	7	equation	equation	NOUN
ajfa-6133	76	8	:	:	PUNCT
ajfa-6133	76	9	company	company	NOUN
ajfa-6133	76	10	-	-	PUNCT
ajfa-6133	76	11	r&d	r&d	NOUN
ajfa-6133	76	12	=	=	NOUN
ajfa-6133	76	13	α	α	PROPN
ajfa-6133	76	14	+	+	CCONJ
ajfa-6133	76	15	β1	β1	NOUN
ajfa-6133	76	16	accounting	accounting	NOUN
ajfa-6133	76	17	-	-	PUNCT
ajfa-6133	76	18	disclosure	disclosure	NOUN
ajfa-6133	76	19	+	+	CCONJ
ajfa-6133	76	20	β2	β2	ADJ
ajfa-6133	76	21	judicial	judicial	ADJ
ajfa-6133	76	22	-	-	PUNCT
ajfa-6133	76	23	efficiency	efficiency	NOUN
ajfa-6133	76	24	+	+	CCONJ
ajfa-6133	76	25	β3	β3	VERB
ajfa-6133	76	26	accounting	accounting	NOUN
ajfa-6133	76	27	-	-	PUNCT
ajfa-6133	76	28	disclosure	disclosure	NOUN
ajfa-6133	76	29	*	*	PUNCT
ajfa-6133	76	30	judicial	judicial	ADJ
ajfa-6133	76	31	-	-	PUNCT
ajfa-6133	76	32	efficiency	efficiency	NOUN
ajfa-6133	76	33	+	+	CCONJ
ajfa-6133	76	34	β4	β4	PROPN
ajfa-6133	76	35	control	control	NOUN
ajfa-6133	76	36	variables	variable	NOUN
ajfa-6133	76	37	+	+	CCONJ
ajfa-6133	76	38	industry	industry	NOUN
ajfa-6133	76	39	effects	effect	NOUN
ajfa-6133	76	40	+	+	CCONJ
ajfa-6133	76	41	year	year	NOUN
ajfa-6133	76	42	effects	effect	NOUN
ajfa-6133	76	43	+	+	CCONJ
ajfa-6133	76	44	ε	ε	PROPN
ajfa-6133	76	45	(	(	PUNCT
ajfa-6133	76	46	2	2	NUM
ajfa-6133	76	47	)	)	PUNCT
ajfa-6133	76	48	table	table	NOUN
ajfa-6133	76	49	2	2	NUM
ajfa-6133	76	50	.	.	PUNCT
ajfa-6133	77	1	regression	regression	NOUN
ajfa-6133	77	2	with	with	ADP
ajfa-6133	77	3	investor	investor	NOUN
ajfa-6133	77	4	protection	protection	NOUN
ajfa-6133	77	5	measured	measure	VERB
ajfa-6133	77	6	by	by	ADP
ajfa-6133	77	7	judicial	judicial	ADJ
ajfa-6133	77	8	-	-	PUNCT
ajfa-6133	77	9	efficiency	efficiency	NOUN
ajfa-6133	77	10	company	company	NOUN
ajfa-6133	77	11	-	-	PUNCT
ajfa-6133	77	12	r&d	r&d	NOUN
ajfa-6133	77	13	(	(	PUNCT
ajfa-6133	77	14	1	1	NUM
ajfa-6133	77	15	)	)	PUNCT
ajfa-6133	77	16	(	(	PUNCT
ajfa-6133	77	17	2	2	X
ajfa-6133	77	18	)	)	PUNCT
ajfa-6133	77	19	accounting	accounting	NOUN
ajfa-6133	77	20	-	-	PUNCT
ajfa-6133	77	21	disclosure	disclosure	NOUN
ajfa-6133	77	22	0.0036	0.0036	NUM
ajfa-6133	77	23	*	*	NOUN
ajfa-6133	77	24	*	*	PUNCT
ajfa-6133	77	25	*	*	PUNCT
ajfa-6133	77	26	0.0035	0.0035	NUM
ajfa-6133	77	27	*	*	PUNCT
ajfa-6133	77	28	*	*	PUNCT
ajfa-6133	77	29	*	*	PUNCT
ajfa-6133	77	30	(	(	PUNCT
ajfa-6133	77	31	5.526	5.526	NUM
ajfa-6133	77	32	)	)	PUNCT
ajfa-6133	77	33	(	(	PUNCT
ajfa-6133	77	34	5.672	5.672	NUM
ajfa-6133	77	35	)	)	PUNCT
ajfa-6133	77	36	judicial	judicial	ADJ
ajfa-6133	77	37	-	-	PUNCT
ajfa-6133	77	38	efficiency	efficiency	NOUN
ajfa-6133	77	39	0.0182	0.0182	NUM
ajfa-6133	77	40	*	*	NOUN
ajfa-6133	77	41	*	*	PUNCT
ajfa-6133	77	42	*	*	PUNCT
ajfa-6133	78	1	0.0180	0.0180	NUM
ajfa-6133	78	2	*	*	PUNCT
ajfa-6133	78	3	*	*	PUNCT
ajfa-6133	78	4	*	*	PUNCT
ajfa-6133	78	5	(	(	PUNCT
ajfa-6133	78	6	4.858	4.858	NUM
ajfa-6133	78	7	)	)	PUNCT
ajfa-6133	78	8	(	(	PUNCT
ajfa-6133	78	9	4.973	4.973	NUM
ajfa-6133	78	10	)	)	PUNCT
ajfa-6133	78	11	accounting	accounting	NOUN
ajfa-6133	78	12	-	-	PUNCT
ajfa-6133	78	13	disclosure	disclosure	NOUN
ajfa-6133	78	14	*	*	PUNCT
ajfa-6133	78	15	judicial	judicial	ADJ
ajfa-6133	78	16	-	-	PUNCT
ajfa-6133	78	17	efficiency	efficiency	NOUN
ajfa-6133	78	18	-0.0004	-0.0004	NOUN
ajfa-6133	78	19	*	*	PUNCT
ajfa-6133	78	20	*	*	PUNCT
ajfa-6133	78	21	*	*	PUNCT
ajfa-6133	78	22	-0.0005	-0.0005	PUNCT
ajfa-6133	78	23	*	*	PUNCT
ajfa-6133	78	24	*	*	PUNCT
ajfa-6133	78	25	*	*	PUNCT
ajfa-6133	78	26	(	(	PUNCT
ajfa-6133	78	27	-4.632	-4.632	NUM
ajfa-6133	78	28	)	)	PUNCT
ajfa-6133	78	29	(	(	PUNCT
ajfa-6133	78	30	-4.462	-4.462	NOUN
ajfa-6133	78	31	)	)	PUNCT
ajfa-6133	78	32	log	log	NOUN
ajfa-6133	78	33	-	-	PUNCT
ajfa-6133	78	34	assets	asset	NOUN
ajfa-6133	78	35	0.2151	0.2151	NUM
ajfa-6133	78	36	*	*	PUNCT
ajfa-6133	78	37	*	*	PUNCT
ajfa-6133	78	38	*	*	PUNCT
ajfa-6133	78	39	(	(	PUNCT
ajfa-6133	78	40	5.345	5.345	NUM
ajfa-6133	78	41	)	)	PUNCT
ajfa-6133	78	42	total	total	ADJ
ajfa-6133	78	43	-	-	PUNCT
ajfa-6133	78	44	liability	liability	NOUN
ajfa-6133	78	45	0.0052	0.0052	NUM
ajfa-6133	78	46	(	(	PUNCT
ajfa-6133	78	47	0.341	0.341	NUM
ajfa-6133	78	48	)	)	PUNCT
ajfa-6133	78	49	accounting	accounting	NOUN
ajfa-6133	78	50	-	-	PUNCT
ajfa-6133	78	51	earnings	earning	NOUN
ajfa-6133	78	52	0.0050	0.0050	NUM
ajfa-6133	78	53	(	(	PUNCT
ajfa-6133	78	54	0.342	0.342	NUM
ajfa-6133	78	55	)	)	PUNCT
ajfa-6133	78	56	control	control	NOUN
ajfa-6133	78	57	for	for	ADP
ajfa-6133	78	58	firm	firm	NOUN
ajfa-6133	78	59	-	-	PUNCT
ajfa-6133	78	60	governance	governance	NOUN
ajfa-6133	79	1	yes	yes	INTJ
ajfa-6133	79	2	yes	yes	INTJ
ajfa-6133	79	3	log	log	NOUN
ajfa-6133	79	4	-	-	PUNCT
ajfa-6133	79	5	gdp	gdp	NOUN
ajfa-6133	79	6	-	-	PUNCT
ajfa-6133	79	7	per	per	ADP
ajfa-6133	79	8	-	-	PUNCT
ajfa-6133	79	9	capita	capita	NOUN
ajfa-6133	80	1	yes	yes	INTJ
ajfa-6133	80	2	yes	yes	INTJ
ajfa-6133	80	3	log	log	NOUN
ajfa-6133	80	4	-	-	PUNCT
ajfa-6133	80	5	gdp	gdp	NOUN
ajfa-6133	80	6	-	-	PUNCT
ajfa-6133	80	7	growth	growth	NOUN
ajfa-6133	81	1	yes	yes	INTJ
ajfa-6133	81	2	yes	yes	INTJ
ajfa-6133	81	3	industry	industry	NOUN
ajfa-6133	81	4	effect	effect	NOUN
ajfa-6133	82	1	yes	yes	INTJ
ajfa-6133	82	2	yes	yes	INTJ
ajfa-6133	82	3	year	year	NOUN
ajfa-6133	82	4	effect	effect	NOUN
ajfa-6133	83	1	yes	yes	INTJ
ajfa-6133	83	2	yes	yes	INTJ
ajfa-6133	83	3	observations	observation	NOUN
ajfa-6133	83	4	807	807	NUM
ajfa-6133	83	5	641	641	NUM
ajfa-6133	83	6	adjusted	adjust	VERB
ajfa-6133	83	7	r	r	NOUN
ajfa-6133	83	8	-	-	PUNCT
ajfa-6133	83	9	squared	square	VERB
ajfa-6133	83	10	0.425	0.425	NUM
ajfa-6133	83	11	0.526	0.526	NUM
ajfa-6133	83	12	the	the	DET
ajfa-6133	83	13	table	table	NOUN
ajfa-6133	83	14	reports	report	NOUN
ajfa-6133	83	15	coefficients	coefficient	NOUN
ajfa-6133	83	16	and	and	CCONJ
ajfa-6133	83	17	t	t	PROPN
ajfa-6133	83	18	-	-	PUNCT
ajfa-6133	83	19	statistics	statistic	NOUN
ajfa-6133	83	20	.	.	PUNCT
ajfa-6133	84	1	significance	significance	NOUN
ajfa-6133	84	2	at	at	ADP
ajfa-6133	84	3	the	the	DET
ajfa-6133	84	4	10	10	NUM
ajfa-6133	84	5	%	%	NOUN
ajfa-6133	84	6	,	,	PUNCT
ajfa-6133	84	7	5	5	NUM
ajfa-6133	84	8	%	%	NOUN
ajfa-6133	84	9	and	and	CCONJ
ajfa-6133	84	10	1	1	NUM
ajfa-6133	84	11	%	%	NOUN
ajfa-6133	84	12	levels	level	NOUN
ajfa-6133	84	13	is	be	AUX
ajfa-6133	84	14	indicated	indicate	VERB
ajfa-6133	84	15	by	by	ADP
ajfa-6133	84	16	*	*	NOUN
ajfa-6133	84	17	,	,	PUNCT
ajfa-6133	84	18	*	*	PUNCT
ajfa-6133	84	19	*	*	PUNCT
ajfa-6133	84	20	,	,	PUNCT
ajfa-6133	84	21	and	and	CCONJ
ajfa-6133	84	22	*	*	PUNCT
ajfa-6133	84	23	*	*	PUNCT
ajfa-6133	84	24	*	*	PUNCT
ajfa-6133	84	25	,	,	PUNCT
ajfa-6133	84	26	respectively	respectively	ADV
ajfa-6133	84	27	.	.	PUNCT
ajfa-6133	85	1	in	in	ADP
ajfa-6133	85	2	calculating	calculate	VERB
ajfa-6133	85	3	standard	standard	ADJ
ajfa-6133	85	4	errors	error	NOUN
ajfa-6133	85	5	,	,	PUNCT
ajfa-6133	85	6	we	we	PRON
ajfa-6133	85	7	cluster	cluster	VERB
ajfa-6133	85	8	by	by	ADP
ajfa-6133	85	9	firm	firm	NOUN
ajfa-6133	85	10	.	.	PUNCT
ajfa-6133	86	1	our	our	PRON
ajfa-6133	86	2	firm	firm	ADJ
ajfa-6133	86	3	-	-	PUNCT
ajfa-6133	86	4	level	level	NOUN
ajfa-6133	86	5	accounting	accounting	NOUN
ajfa-6133	86	6	disclosure	disclosure	NOUN
ajfa-6133	86	7	and	and	CCONJ
ajfa-6133	86	8	corporate	corporate	ADJ
ajfa-6133	86	9	governance	governance	NOUN
ajfa-6133	86	10	data	datum	NOUN
ajfa-6133	86	11	is	be	AUX
ajfa-6133	86	12	from	from	ADP
ajfa-6133	86	13	the	the	DET
ajfa-6133	86	14	survey	survey	NOUN
ajfa-6133	86	15	data	datum	NOUN
ajfa-6133	86	16	by	by	ADP
ajfa-6133	86	17	credit	credit	NOUN
ajfa-6133	86	18	lyonnais	lyonnais	PROPN
ajfa-6133	86	19	securities	securities	PROPN
ajfa-6133	86	20	asia	asia	PROPN
ajfa-6133	86	21	.	.	PUNCT
ajfa-6133	87	1	we	we	PRON
ajfa-6133	87	2	use	use	VERB
ajfa-6133	87	3	the	the	DET
ajfa-6133	87	4	three	three	NUM
ajfa-6133	87	5	country	country	NOUN
ajfa-6133	87	6	-	-	PUNCT
ajfa-6133	87	7	level	level	NOUN
ajfa-6133	87	8	governance	governance	NOUN
ajfa-6133	87	9	measures	measure	NOUN
ajfa-6133	87	10	such	such	ADJ
ajfa-6133	87	11	as	as	ADP
ajfa-6133	87	12	asian	asian	ADJ
ajfa-6133	87	13	journal	journal	NOUN
ajfa-6133	87	14	of	of	ADP
ajfa-6133	87	15	finance	finance	PROPN
ajfa-6133	87	16	&	&	CCONJ
ajfa-6133	87	17	accounting	accounting	PROPN
ajfa-6133	87	18	issn	issn	PROPN
ajfa-6133	87	19	1946	1946	NUM
ajfa-6133	87	20	-	-	PUNCT
ajfa-6133	87	21	052x	052x	PROPN
ajfa-6133	87	22	2014	2014	NUM
ajfa-6133	87	23	,	,	PUNCT
ajfa-6133	87	24	vol	vol	NOUN
ajfa-6133	87	25	.	.	PROPN
ajfa-6133	87	26	6	6	NUM
ajfa-6133	87	27	,	,	PUNCT
ajfa-6133	87	28	no	no	INTJ
ajfa-6133	87	29	.	.	NOUN
ajfa-6133	87	30	2	2	NUM
ajfa-6133	87	31	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-6133	87	32	148	148	NUM
ajfa-6133	87	33	judicial	judicial	ADJ
ajfa-6133	87	34	efficiency	efficiency	NOUN
ajfa-6133	87	35	,	,	PUNCT
ajfa-6133	87	36	legality	legality	NOUN
ajfa-6133	87	37	,	,	PUNCT
ajfa-6133	87	38	and	and	CCONJ
ajfa-6133	87	39	shareholder	shareholder	NOUN
ajfa-6133	87	40	rights	right	NOUN
ajfa-6133	87	41	from	from	ADP
ajfa-6133	87	42	la	la	ADV
ajfa-6133	87	43	porta	porta	NOUN
ajfa-6133	87	44	et	et	PROPN
ajfa-6133	87	45	al	al	PROPN
ajfa-6133	87	46	.	.	PROPN
ajfa-6133	88	1	(	(	PUNCT
ajfa-6133	88	2	1998	1998	NUM
ajfa-6133	88	3	)	)	PUNCT
ajfa-6133	88	4	and	and	CCONJ
ajfa-6133	88	5	the	the	DET
ajfa-6133	88	6	international	international	ADJ
ajfa-6133	88	7	country	country	NOUN
ajfa-6133	88	8	risk	risk	NOUN
ajfa-6133	88	9	guide	guide	NOUN
ajfa-6133	88	10	(	(	PUNCT
ajfa-6133	88	11	2000	2000	NUM
ajfa-6133	88	12	)	)	PUNCT
ajfa-6133	88	13	.	.	PUNCT
ajfa-6133	89	1	we	we	PRON
ajfa-6133	89	2	obtain	obtain	VERB
ajfa-6133	89	3	our	our	PRON
ajfa-6133	89	4	dependent	dependent	ADJ
ajfa-6133	89	5	variable	variable	NOUN
ajfa-6133	89	6	from	from	ADP
ajfa-6133	89	7	worldscope	worldscope	NOUN
ajfa-6133	89	8	,	,	PUNCT
ajfa-6133	89	9	and	and	CCONJ
ajfa-6133	89	10	define	define	VERB
ajfa-6133	89	11	r&d	r&d	NOUN
ajfa-6133	89	12	as	as	ADP
ajfa-6133	89	13	the	the	DET
ajfa-6133	89	14	ratio	ratio	NOUN
ajfa-6133	89	15	of	of	ADP
ajfa-6133	89	16	a	a	DET
ajfa-6133	89	17	firm	firm	NOUN
ajfa-6133	89	18	’s	’s	PART
ajfa-6133	89	19	r&d	r&d	NOUN
ajfa-6133	89	20	expenditures	expenditure	NOUN
ajfa-6133	89	21	to	to	ADP
ajfa-6133	89	22	sales	sale	NOUN
ajfa-6133	89	23	.	.	PUNCT
ajfa-6133	90	1	we	we	PRON
ajfa-6133	90	2	also	also	ADV
ajfa-6133	90	3	control	control	VERB
ajfa-6133	90	4	for	for	ADP
ajfa-6133	90	5	the	the	DET
ajfa-6133	90	6	logarithm	logarithm	NOUN
ajfa-6133	90	7	of	of	ADP
ajfa-6133	90	8	firm	firm	ADJ
ajfa-6133	90	9	assets	asset	NOUN
ajfa-6133	90	10	,	,	PUNCT
ajfa-6133	90	11	total	total	ADJ
ajfa-6133	90	12	liability	liability	NOUN
ajfa-6133	90	13	,	,	PUNCT
ajfa-6133	90	14	accounting	accounting	NOUN
ajfa-6133	90	15	earnings	earning	NOUN
ajfa-6133	90	16	,	,	PUNCT
ajfa-6133	90	17	gdp	gdp	NOUN
ajfa-6133	90	18	growth	growth	NOUN
ajfa-6133	90	19	,	,	PUNCT
ajfa-6133	90	20	gdp	gdp	NOUN
ajfa-6133	90	21	per	per	ADP
ajfa-6133	90	22	capita	capita	NOUN
ajfa-6133	90	23	.	.	PUNCT
ajfa-6133	91	1	our	our	PRON
ajfa-6133	91	2	sample	sample	NOUN
ajfa-6133	91	3	period	period	NOUN
ajfa-6133	91	4	is	be	AUX
ajfa-6133	91	5	between	between	ADP
ajfa-6133	91	6	2000	2000	NUM
ajfa-6133	91	7	and	and	CCONJ
ajfa-6133	91	8	2005	2005	NUM
ajfa-6133	91	9	.	.	PUNCT
ajfa-6133	92	1	our	our	PRON
ajfa-6133	92	2	final	final	ADJ
ajfa-6133	92	3	sample	sample	NOUN
ajfa-6133	92	4	includes	include	VERB
ajfa-6133	92	5	807	807	NUM
ajfa-6133	92	6	observations	observation	NOUN
ajfa-6133	92	7	in	in	ADP
ajfa-6133	92	8	fourteen	fourteen	NUM
ajfa-6133	92	9	emerging	emerge	VERB
ajfa-6133	92	10	markets	market	NOUN
ajfa-6133	92	11	.	.	PUNCT
ajfa-6133	93	1	as	as	SCONJ
ajfa-6133	93	2	shown	show	VERB
ajfa-6133	93	3	in	in	ADP
ajfa-6133	93	4	table	table	NOUN
ajfa-6133	93	5	2	2	NUM
ajfa-6133	93	6	,	,	PUNCT
ajfa-6133	93	7	the	the	DET
ajfa-6133	93	8	coefficients	coefficient	NOUN
ajfa-6133	93	9	of	of	ADP
ajfa-6133	93	10	the	the	DET
ajfa-6133	93	11	interaction	interaction	NOUN
ajfa-6133	93	12	terms	term	NOUN
ajfa-6133	93	13	between	between	ADP
ajfa-6133	93	14	accounting	accounting	NOUN
ajfa-6133	93	15	disclosure	disclosure	NOUN
ajfa-6133	93	16	and	and	CCONJ
ajfa-6133	93	17	judicial	judicial	ADJ
ajfa-6133	93	18	efficiency	efficiency	NOUN
ajfa-6133	93	19	are	be	AUX
ajfa-6133	93	20	always	always	ADV
ajfa-6133	93	21	statistically	statistically	ADV
ajfa-6133	93	22	significant	significant	ADJ
ajfa-6133	93	23	at	at	ADP
ajfa-6133	93	24	1	1	NUM
ajfa-6133	93	25	%	%	NOUN
ajfa-6133	93	26	level	level	NOUN
ajfa-6133	93	27	.	.	PUNCT
ajfa-6133	94	1	specifically	specifically	ADV
ajfa-6133	94	2	,	,	PUNCT
ajfa-6133	94	3	the	the	DET
ajfa-6133	94	4	coefficient	coefficient	NOUN
ajfa-6133	94	5	of	of	ADP
ajfa-6133	94	6	the	the	DET
ajfa-6133	94	7	variable	variable	ADJ
ajfa-6133	94	8	accounting	accounting	NOUN
ajfa-6133	94	9	-	-	PUNCT
ajfa-6133	94	10	disclosure	disclosure	NOUN
ajfa-6133	94	11	is	be	AUX
ajfa-6133	94	12	equal	equal	ADJ
ajfa-6133	94	13	to	to	ADP
ajfa-6133	94	14	0.0036	0.0036	NUM
ajfa-6133	94	15	.	.	PUNCT
ajfa-6133	95	1	the	the	DET
ajfa-6133	95	2	coefficient	coefficient	NOUN
ajfa-6133	95	3	of	of	ADP
ajfa-6133	95	4	the	the	DET
ajfa-6133	95	5	variable	variable	ADJ
ajfa-6133	95	6	judicial	judicial	ADJ
ajfa-6133	95	7	-	-	PUNCT
ajfa-6133	95	8	efficiency	efficiency	NOUN
ajfa-6133	95	9	is	be	AUX
ajfa-6133	95	10	equal	equal	ADJ
ajfa-6133	95	11	to	to	ADP
ajfa-6133	95	12	0.0182	0.0182	NUM
ajfa-6133	95	13	.	.	PUNCT
ajfa-6133	96	1	the	the	DET
ajfa-6133	96	2	coefficient	coefficient	NOUN
ajfa-6133	96	3	of	of	ADP
ajfa-6133	96	4	the	the	DET
ajfa-6133	96	5	variable	variable	ADJ
ajfa-6133	96	6	accounting	accounting	NOUN
ajfa-6133	96	7	-	-	PUNCT
ajfa-6133	96	8	disclosure	disclosure	NOUN
ajfa-6133	96	9	*	*	PUNCT
ajfa-6133	96	10	judicial	judicial	ADJ
ajfa-6133	96	11	-	-	PUNCT
ajfa-6133	96	12	efficiency	efficiency	NOUN
ajfa-6133	96	13	is	be	AUX
ajfa-6133	96	14	equal	equal	ADJ
ajfa-6133	96	15	to	to	ADP
ajfa-6133	96	16	-0.0004	-0.0004	NOUN
ajfa-6133	96	17	.	.	PUNCT
ajfa-6133	97	1	this	this	DET
ajfa-6133	97	2	finding	finding	NOUN
ajfa-6133	97	3	indicates	indicate	VERB
ajfa-6133	97	4	that	that	SCONJ
ajfa-6133	97	5	the	the	DET
ajfa-6133	97	6	relation	relation	NOUN
ajfa-6133	97	7	between	between	ADP
ajfa-6133	97	8	accounting	accounting	NOUN
ajfa-6133	97	9	disclosure	disclosure	NOUN
ajfa-6133	97	10	and	and	CCONJ
ajfa-6133	97	11	r&d	r&d	NOUN
ajfa-6133	97	12	is	be	AUX
ajfa-6133	97	13	stronger	strong	ADJ
ajfa-6133	97	14	in	in	ADP
ajfa-6133	97	15	countries	country	NOUN
ajfa-6133	97	16	with	with	ADP
ajfa-6133	97	17	poor	poor	ADJ
ajfa-6133	97	18	investor	investor	NOUN
ajfa-6133	97	19	protection	protection	NOUN
ajfa-6133	97	20	.	.	PUNCT
ajfa-6133	98	1	when	when	SCONJ
ajfa-6133	98	2	we	we	PRON
ajfa-6133	98	3	include	include	VERB
ajfa-6133	98	4	firm	firm	ADJ
ajfa-6133	98	5	characteristics	characteristic	NOUN
ajfa-6133	98	6	,	,	PUNCT
ajfa-6133	98	7	the	the	DET
ajfa-6133	98	8	conclusion	conclusion	NOUN
ajfa-6133	98	9	does	do	AUX
ajfa-6133	98	10	not	not	PART
ajfa-6133	98	11	change	change	VERB
ajfa-6133	98	12	.	.	PUNCT
ajfa-6133	99	1	specifically	specifically	ADV
ajfa-6133	99	2	,	,	PUNCT
ajfa-6133	99	3	the	the	DET
ajfa-6133	99	4	coefficient	coefficient	NOUN
ajfa-6133	99	5	of	of	ADP
ajfa-6133	99	6	the	the	DET
ajfa-6133	99	7	variable	variable	ADJ
ajfa-6133	99	8	accounting	accounting	NOUN
ajfa-6133	99	9	-	-	PUNCT
ajfa-6133	99	10	disclosure	disclosure	NOUN
ajfa-6133	99	11	is	be	AUX
ajfa-6133	99	12	equal	equal	ADJ
ajfa-6133	99	13	to	to	ADP
ajfa-6133	99	14	0.0035	0.0035	NUM
ajfa-6133	99	15	.	.	PUNCT
ajfa-6133	100	1	the	the	DET
ajfa-6133	100	2	coefficient	coefficient	NOUN
ajfa-6133	100	3	of	of	ADP
ajfa-6133	100	4	the	the	DET
ajfa-6133	100	5	variable	variable	ADJ
ajfa-6133	100	6	judicial	judicial	ADJ
ajfa-6133	100	7	-	-	PUNCT
ajfa-6133	100	8	efficiency	efficiency	NOUN
ajfa-6133	100	9	is	be	AUX
ajfa-6133	100	10	equal	equal	ADJ
ajfa-6133	100	11	to	to	ADP
ajfa-6133	100	12	0.0180	0.0180	NUM
ajfa-6133	100	13	.	.	PUNCT
ajfa-6133	101	1	the	the	DET
ajfa-6133	101	2	coefficient	coefficient	NOUN
ajfa-6133	101	3	of	of	ADP
ajfa-6133	101	4	the	the	DET
ajfa-6133	101	5	variable	variable	ADJ
ajfa-6133	101	6	accounting	accounting	NOUN
ajfa-6133	101	7	-	-	PUNCT
ajfa-6133	101	8	disclosure	disclosure	NOUN
ajfa-6133	101	9	*	*	PUNCT
ajfa-6133	101	10	judicial	judicial	ADJ
ajfa-6133	101	11	-	-	PUNCT
ajfa-6133	101	12	efficiency	efficiency	NOUN
ajfa-6133	101	13	is	be	AUX
ajfa-6133	101	14	equal	equal	ADJ
ajfa-6133	101	15	to	to	PART
ajfa-6133	101	16	-0.0005	-0.0005	VERB
ajfa-6133	101	17	.	.	PUNCT
ajfa-6133	102	1	the	the	DET
ajfa-6133	102	2	coefficient	coefficient	NOUN
ajfa-6133	102	3	of	of	ADP
ajfa-6133	102	4	the	the	DET
ajfa-6133	102	5	variable	variable	ADJ
ajfa-6133	102	6	log	log	NOUN
ajfa-6133	102	7	-	-	PUNCT
ajfa-6133	102	8	assets	asset	NOUN
ajfa-6133	102	9	is	be	AUX
ajfa-6133	102	10	equal	equal	ADJ
ajfa-6133	102	11	to	to	ADP
ajfa-6133	102	12	0.2151	0.2151	NUM
ajfa-6133	102	13	.	.	PUNCT
ajfa-6133	102	14	table	table	NOUN
ajfa-6133	102	15	3	3	NUM
ajfa-6133	102	16	.	.	PUNCT
ajfa-6133	103	1	regression	regression	NOUN
ajfa-6133	103	2	with	with	ADP
ajfa-6133	103	3	investor	investor	NOUN
ajfa-6133	103	4	protection	protection	NOUN
ajfa-6133	103	5	measured	measure	VERB
ajfa-6133	103	6	by	by	ADP
ajfa-6133	103	7	country	country	NOUN
ajfa-6133	103	8	-	-	PUNCT
ajfa-6133	103	9	legality	legality	NOUN
ajfa-6133	103	10	company	company	NOUN
ajfa-6133	103	11	-	-	PUNCT
ajfa-6133	103	12	r&d	r&d	NOUN
ajfa-6133	103	13	(	(	PUNCT
ajfa-6133	103	14	1	1	NUM
ajfa-6133	103	15	)	)	PUNCT
ajfa-6133	103	16	(	(	PUNCT
ajfa-6133	103	17	2	2	X
ajfa-6133	103	18	)	)	PUNCT
ajfa-6133	103	19	accounting	accounting	NOUN
ajfa-6133	103	20	-	-	PUNCT
ajfa-6133	103	21	disclosure	disclosure	NOUN
ajfa-6133	103	22	0.0041	0.0041	NUM
ajfa-6133	103	23	*	*	PUNCT
ajfa-6133	103	24	*	*	PUNCT
ajfa-6133	103	25	*	*	PUNCT
ajfa-6133	104	1	0.0042	0.0042	NUM
ajfa-6133	104	2	*	*	PUNCT
ajfa-6133	104	3	*	*	PUNCT
ajfa-6133	104	4	*	*	PUNCT
ajfa-6133	104	5	(	(	PUNCT
ajfa-6133	104	6	4.647	4.647	NUM
ajfa-6133	104	7	)	)	PUNCT
ajfa-6133	104	8	(	(	PUNCT
ajfa-6133	104	9	3.746	3.746	NUM
ajfa-6133	104	10	)	)	PUNCT
ajfa-6133	104	11	country	country	NOUN
ajfa-6133	104	12	-	-	PUNCT
ajfa-6133	104	13	legality	legality	NOUN
ajfa-6133	104	14	0.0381	0.0381	NUM
ajfa-6133	104	15	*	*	PUNCT
ajfa-6133	104	16	*	*	PUNCT
ajfa-6133	104	17	*	*	PUNCT
ajfa-6133	105	1	0.0380	0.0380	PUNCT
ajfa-6133	105	2	*	*	PUNCT
ajfa-6133	105	3	*	*	PUNCT
ajfa-6133	105	4	*	*	PUNCT
ajfa-6133	105	5	(	(	PUNCT
ajfa-6133	105	6	4.573	4.573	NUM
ajfa-6133	105	7	)	)	PUNCT
ajfa-6133	105	8	(	(	PUNCT
ajfa-6133	105	9	4.489	4.489	NUM
ajfa-6133	105	10	)	)	PUNCT
ajfa-6133	105	11	accounting	accounting	NOUN
ajfa-6133	105	12	-	-	PUNCT
ajfa-6133	105	13	disclosure	disclosure	NOUN
ajfa-6133	105	14	*	*	PUNCT
ajfa-6133	105	15	country	country	NOUN
ajfa-6133	105	16	-	-	PUNCT
ajfa-6133	105	17	legality	legality	NOUN
ajfa-6133	105	18	-0.0002	-0.0002	NOUN
ajfa-6133	105	19	*	*	PUNCT
ajfa-6133	105	20	*	*	PUNCT
ajfa-6133	105	21	*	*	NOUN
ajfa-6133	105	22	-0.0002	-0.0002	NOUN
ajfa-6133	105	23	*	*	PUNCT
ajfa-6133	105	24	*	*	PUNCT
ajfa-6133	105	25	*	*	PUNCT
ajfa-6133	105	26	(	(	PUNCT
ajfa-6133	105	27	-3.980	-3.980	NOUN
ajfa-6133	105	28	)	)	PUNCT
ajfa-6133	105	29	(	(	PUNCT
ajfa-6133	105	30	-3.893	-3.893	NOUN
ajfa-6133	105	31	)	)	PUNCT
ajfa-6133	105	32	log	log	NOUN
ajfa-6133	105	33	-	-	PUNCT
ajfa-6133	105	34	assets	asset	NOUN
ajfa-6133	105	35	0.2154	0.2154	NUM
ajfa-6133	105	36	*	*	PUNCT
ajfa-6133	105	37	*	*	PUNCT
ajfa-6133	105	38	*	*	PUNCT
ajfa-6133	105	39	(	(	PUNCT
ajfa-6133	105	40	5.256	5.256	NUM
ajfa-6133	105	41	)	)	PUNCT
ajfa-6133	105	42	total	total	ADJ
ajfa-6133	105	43	-	-	PUNCT
ajfa-6133	105	44	liability	liability	NOUN
ajfa-6133	105	45	0.0050	0.0050	NUM
ajfa-6133	105	46	(	(	PUNCT
ajfa-6133	105	47	0.301	0.301	NUM
ajfa-6133	105	48	)	)	PUNCT
ajfa-6133	105	49	accounting	accounting	NOUN
ajfa-6133	105	50	-	-	PUNCT
ajfa-6133	105	51	earnings	earning	NOUN
ajfa-6133	105	52	0.0052	0.0052	NUM
ajfa-6133	105	53	(	(	PUNCT
ajfa-6133	105	54	0.302	0.302	NUM
ajfa-6133	105	55	)	)	PUNCT
ajfa-6133	105	56	control	control	NOUN
ajfa-6133	105	57	for	for	ADP
ajfa-6133	105	58	firm	firm	NOUN
ajfa-6133	105	59	-	-	PUNCT
ajfa-6133	105	60	governance	governance	NOUN
ajfa-6133	106	1	yes	yes	INTJ
ajfa-6133	106	2	yes	yes	INTJ
ajfa-6133	106	3	log	log	NOUN
ajfa-6133	106	4	-	-	PUNCT
ajfa-6133	106	5	gdp	gdp	NOUN
ajfa-6133	106	6	-	-	PUNCT
ajfa-6133	106	7	per	per	ADP
ajfa-6133	106	8	-	-	PUNCT
ajfa-6133	106	9	capita	capita	NOUN
ajfa-6133	107	1	yes	yes	INTJ
ajfa-6133	107	2	yes	yes	INTJ
ajfa-6133	107	3	log	log	NOUN
ajfa-6133	107	4	-	-	PUNCT
ajfa-6133	107	5	gdp	gdp	NOUN
ajfa-6133	107	6	-	-	PUNCT
ajfa-6133	107	7	growth	growth	NOUN
ajfa-6133	108	1	yes	yes	INTJ
ajfa-6133	108	2	yes	yes	INTJ
ajfa-6133	108	3	industry	industry	NOUN
ajfa-6133	108	4	effect	effect	NOUN
ajfa-6133	109	1	yes	yes	INTJ
ajfa-6133	109	2	yes	yes	INTJ
ajfa-6133	109	3	year	year	NOUN
ajfa-6133	109	4	effect	effect	NOUN
ajfa-6133	110	1	yes	yes	INTJ
ajfa-6133	110	2	yes	yes	INTJ
ajfa-6133	110	3	observations	observation	NOUN
ajfa-6133	110	4	807	807	NUM
ajfa-6133	110	5	641	641	NUM
ajfa-6133	110	6	adjusted	adjust	VERB
ajfa-6133	110	7	r	r	NOUN
ajfa-6133	110	8	-	-	PUNCT
ajfa-6133	110	9	squared	square	VERB
ajfa-6133	110	10	0.421	0.421	NUM
ajfa-6133	110	11	0.520	0.520	NUM
ajfa-6133	110	12	the	the	DET
ajfa-6133	110	13	table	table	NOUN
ajfa-6133	110	14	reports	report	NOUN
ajfa-6133	110	15	coefficients	coefficient	NOUN
ajfa-6133	110	16	and	and	CCONJ
ajfa-6133	110	17	t	t	PROPN
ajfa-6133	110	18	-	-	PUNCT
ajfa-6133	110	19	statistics	statistic	NOUN
ajfa-6133	110	20	.	.	PUNCT
ajfa-6133	111	1	significance	significance	NOUN
ajfa-6133	111	2	at	at	ADP
ajfa-6133	111	3	the	the	DET
ajfa-6133	111	4	10	10	NUM
ajfa-6133	111	5	%	%	NOUN
ajfa-6133	111	6	,	,	PUNCT
ajfa-6133	111	7	5	5	NUM
ajfa-6133	111	8	%	%	NOUN
ajfa-6133	111	9	and	and	CCONJ
ajfa-6133	111	10	1	1	NUM
ajfa-6133	111	11	%	%	NOUN
ajfa-6133	111	12	levels	level	NOUN
ajfa-6133	111	13	is	be	AUX
ajfa-6133	111	14	indicated	indicate	VERB
ajfa-6133	111	15	by	by	ADP
ajfa-6133	111	16	*	*	NOUN
ajfa-6133	111	17	,	,	PUNCT
ajfa-6133	111	18	*	*	PUNCT
ajfa-6133	111	19	*	*	PUNCT
ajfa-6133	111	20	,	,	PUNCT
ajfa-6133	111	21	and	and	CCONJ
ajfa-6133	111	22	*	*	PUNCT
ajfa-6133	111	23	*	*	PUNCT
ajfa-6133	111	24	*	*	PUNCT
ajfa-6133	111	25	,	,	PUNCT
ajfa-6133	111	26	respectively	respectively	ADV
ajfa-6133	111	27	.	.	PUNCT
ajfa-6133	112	1	in	in	ADP
ajfa-6133	112	2	calculating	calculate	VERB
ajfa-6133	112	3	standard	standard	ADJ
ajfa-6133	112	4	errors	error	NOUN
ajfa-6133	112	5	,	,	PUNCT
ajfa-6133	112	6	we	we	PRON
ajfa-6133	112	7	cluster	cluster	VERB
ajfa-6133	112	8	by	by	ADP
ajfa-6133	112	9	firm	firm	NOUN
ajfa-6133	112	10	.	.	PUNCT
ajfa-6133	113	1	our	our	PRON
ajfa-6133	113	2	firm	firm	ADJ
ajfa-6133	113	3	-	-	PUNCT
ajfa-6133	113	4	level	level	NOUN
ajfa-6133	113	5	asian	asian	ADJ
ajfa-6133	113	6	journal	journal	NOUN
ajfa-6133	113	7	of	of	ADP
ajfa-6133	113	8	finance	finance	PROPN
ajfa-6133	113	9	&	&	CCONJ
ajfa-6133	113	10	accounting	accounting	PROPN
ajfa-6133	113	11	issn	issn	PROPN
ajfa-6133	113	12	1946	1946	NUM
ajfa-6133	113	13	-	-	PUNCT
ajfa-6133	113	14	052x	052x	PROPN
ajfa-6133	113	15	2014	2014	NUM
ajfa-6133	113	16	,	,	PUNCT
ajfa-6133	113	17	vol	vol	NOUN
ajfa-6133	113	18	.	.	PROPN
ajfa-6133	113	19	6	6	NUM
ajfa-6133	113	20	,	,	PUNCT
ajfa-6133	113	21	no	no	INTJ
ajfa-6133	113	22	.	.	NOUN
ajfa-6133	113	23	2	2	NUM
ajfa-6133	113	24	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-6133	113	25	149	149	NUM
ajfa-6133	113	26	accounting	accounting	NOUN
ajfa-6133	113	27	disclosure	disclosure	NOUN
ajfa-6133	113	28	and	and	CCONJ
ajfa-6133	113	29	corporate	corporate	ADJ
ajfa-6133	113	30	governance	governance	NOUN
ajfa-6133	113	31	data	datum	NOUN
ajfa-6133	113	32	is	be	AUX
ajfa-6133	113	33	from	from	ADP
ajfa-6133	113	34	the	the	DET
ajfa-6133	113	35	survey	survey	NOUN
ajfa-6133	113	36	data	datum	NOUN
ajfa-6133	113	37	by	by	ADP
ajfa-6133	113	38	credit	credit	NOUN
ajfa-6133	113	39	lyonnais	lyonnais	PROPN
ajfa-6133	113	40	securities	securities	PROPN
ajfa-6133	113	41	asia	asia	PROPN
ajfa-6133	113	42	.	.	PUNCT
ajfa-6133	114	1	we	we	PRON
ajfa-6133	114	2	use	use	VERB
ajfa-6133	114	3	the	the	DET
ajfa-6133	114	4	three	three	NUM
ajfa-6133	114	5	country	country	NOUN
ajfa-6133	114	6	-	-	PUNCT
ajfa-6133	114	7	level	level	NOUN
ajfa-6133	114	8	governance	governance	NOUN
ajfa-6133	114	9	measures	measure	NOUN
ajfa-6133	114	10	such	such	ADJ
ajfa-6133	114	11	as	as	ADP
ajfa-6133	114	12	judicial	judicial	ADJ
ajfa-6133	114	13	efficiency	efficiency	NOUN
ajfa-6133	114	14	,	,	PUNCT
ajfa-6133	114	15	legality	legality	NOUN
ajfa-6133	114	16	,	,	PUNCT
ajfa-6133	114	17	and	and	CCONJ
ajfa-6133	114	18	shareholder	shareholder	NOUN
ajfa-6133	114	19	rights	right	NOUN
ajfa-6133	114	20	from	from	ADP
ajfa-6133	114	21	la	la	ADV
ajfa-6133	114	22	porta	porta	NOUN
ajfa-6133	114	23	et	et	PROPN
ajfa-6133	114	24	al	al	PROPN
ajfa-6133	114	25	.	.	PROPN
ajfa-6133	115	1	(	(	PUNCT
ajfa-6133	115	2	1998	1998	NUM
ajfa-6133	115	3	)	)	PUNCT
ajfa-6133	115	4	and	and	CCONJ
ajfa-6133	115	5	the	the	DET
ajfa-6133	115	6	international	international	ADJ
ajfa-6133	115	7	country	country	NOUN
ajfa-6133	115	8	risk	risk	NOUN
ajfa-6133	115	9	guide	guide	NOUN
ajfa-6133	115	10	(	(	PUNCT
ajfa-6133	115	11	2000	2000	NUM
ajfa-6133	115	12	)	)	PUNCT
ajfa-6133	115	13	.	.	PUNCT
ajfa-6133	116	1	we	we	PRON
ajfa-6133	116	2	obtain	obtain	VERB
ajfa-6133	116	3	our	our	PRON
ajfa-6133	116	4	dependent	dependent	ADJ
ajfa-6133	116	5	variable	variable	NOUN
ajfa-6133	116	6	from	from	ADP
ajfa-6133	116	7	worldscope	worldscope	NOUN
ajfa-6133	116	8	,	,	PUNCT
ajfa-6133	116	9	and	and	CCONJ
ajfa-6133	116	10	define	define	VERB
ajfa-6133	116	11	r&d	r&d	NOUN
ajfa-6133	116	12	as	as	ADP
ajfa-6133	116	13	the	the	DET
ajfa-6133	116	14	ratio	ratio	NOUN
ajfa-6133	116	15	of	of	ADP
ajfa-6133	116	16	a	a	DET
ajfa-6133	116	17	firm	firm	NOUN
ajfa-6133	116	18	’s	’s	PART
ajfa-6133	116	19	r&d	r&d	NOUN
ajfa-6133	116	20	expenditures	expenditure	NOUN
ajfa-6133	116	21	to	to	ADP
ajfa-6133	116	22	sales	sale	NOUN
ajfa-6133	116	23	.	.	PUNCT
ajfa-6133	117	1	we	we	PRON
ajfa-6133	117	2	also	also	ADV
ajfa-6133	117	3	control	control	VERB
ajfa-6133	117	4	for	for	ADP
ajfa-6133	117	5	the	the	DET
ajfa-6133	117	6	logarithm	logarithm	NOUN
ajfa-6133	117	7	of	of	ADP
ajfa-6133	117	8	firm	firm	ADJ
ajfa-6133	117	9	assets	asset	NOUN
ajfa-6133	117	10	,	,	PUNCT
ajfa-6133	117	11	total	total	ADJ
ajfa-6133	117	12	liability	liability	NOUN
ajfa-6133	117	13	,	,	PUNCT
ajfa-6133	117	14	accounting	accounting	NOUN
ajfa-6133	117	15	earnings	earning	NOUN
ajfa-6133	117	16	,	,	PUNCT
ajfa-6133	117	17	gdp	gdp	NOUN
ajfa-6133	117	18	growth	growth	NOUN
ajfa-6133	117	19	,	,	PUNCT
ajfa-6133	117	20	gdp	gdp	NOUN
ajfa-6133	117	21	per	per	ADP
ajfa-6133	117	22	capita	capita	NOUN
ajfa-6133	117	23	.	.	PUNCT
ajfa-6133	118	1	our	our	PRON
ajfa-6133	118	2	sample	sample	NOUN
ajfa-6133	118	3	period	period	NOUN
ajfa-6133	118	4	is	be	AUX
ajfa-6133	118	5	between	between	ADP
ajfa-6133	118	6	2000	2000	NUM
ajfa-6133	118	7	and	and	CCONJ
ajfa-6133	118	8	2005	2005	NUM
ajfa-6133	118	9	.	.	PUNCT
ajfa-6133	119	1	our	our	PRON
ajfa-6133	119	2	final	final	ADJ
ajfa-6133	119	3	sample	sample	NOUN
ajfa-6133	119	4	includes	include	VERB
ajfa-6133	119	5	807	807	NUM
ajfa-6133	119	6	observations	observation	NOUN
ajfa-6133	119	7	in	in	ADP
ajfa-6133	119	8	fourteen	fourteen	NUM
ajfa-6133	119	9	emerging	emerge	VERB
ajfa-6133	119	10	markets	market	NOUN
ajfa-6133	119	11	.	.	PUNCT
ajfa-6133	120	1	in	in	ADP
ajfa-6133	120	2	table	table	NOUN
ajfa-6133	120	3	3	3	NUM
ajfa-6133	120	4	,	,	PUNCT
ajfa-6133	120	5	we	we	PRON
ajfa-6133	120	6	estimate	estimate	VERB
ajfa-6133	120	7	the	the	DET
ajfa-6133	120	8	following	follow	VERB
ajfa-6133	120	9	equation	equation	NOUN
ajfa-6133	120	10	:	:	PUNCT
ajfa-6133	120	11	company	company	NOUN
ajfa-6133	120	12	-	-	PUNCT
ajfa-6133	120	13	r&d	r&d	NOUN
ajfa-6133	120	14	=	=	NOUN
ajfa-6133	120	15	α	α	PROPN
ajfa-6133	120	16	+	+	CCONJ
ajfa-6133	120	17	β1	β1	NOUN
ajfa-6133	120	18	accounting	accounting	NOUN
ajfa-6133	120	19	-	-	PUNCT
ajfa-6133	120	20	disclosure	disclosure	NOUN
ajfa-6133	120	21	+	+	CCONJ
ajfa-6133	120	22	β2	β2	ADJ
ajfa-6133	120	23	judicial	judicial	ADJ
ajfa-6133	120	24	-	-	PUNCT
ajfa-6133	120	25	efficiency	efficiency	NOUN
ajfa-6133	120	26	+	+	CCONJ
ajfa-6133	120	27	β3	β3	VERB
ajfa-6133	120	28	accounting	accounting	NOUN
ajfa-6133	120	29	-	-	PUNCT
ajfa-6133	120	30	disclosure	disclosure	NOUN
ajfa-6133	120	31	*	*	PUNCT
ajfa-6133	120	32	judicial	judicial	ADJ
ajfa-6133	120	33	-	-	PUNCT
ajfa-6133	120	34	efficiency	efficiency	NOUN
ajfa-6133	120	35	+	+	CCONJ
ajfa-6133	120	36	β4	β4	PROPN
ajfa-6133	120	37	control	control	NOUN
ajfa-6133	120	38	variables	variable	NOUN
ajfa-6133	120	39	+	+	CCONJ
ajfa-6133	120	40	industry	industry	NOUN
ajfa-6133	120	41	effects	effect	NOUN
ajfa-6133	120	42	+	+	CCONJ
ajfa-6133	120	43	year	year	NOUN
ajfa-6133	120	44	effects	effect	NOUN
ajfa-6133	120	45	+	+	CCONJ
ajfa-6133	120	46	ε	ε	PROPN
ajfa-6133	120	47	(	(	PUNCT
ajfa-6133	120	48	3	3	NUM
ajfa-6133	120	49	)	)	PUNCT
ajfa-6133	120	50	as	as	SCONJ
ajfa-6133	120	51	shown	show	VERB
ajfa-6133	120	52	in	in	ADP
ajfa-6133	120	53	table	table	NOUN
ajfa-6133	120	54	3	3	NUM
ajfa-6133	120	55	,	,	PUNCT
ajfa-6133	120	56	the	the	DET
ajfa-6133	120	57	coefficients	coefficient	NOUN
ajfa-6133	120	58	of	of	ADP
ajfa-6133	120	59	the	the	DET
ajfa-6133	120	60	interaction	interaction	NOUN
ajfa-6133	120	61	terms	term	NOUN
ajfa-6133	120	62	between	between	ADP
ajfa-6133	120	63	accounting	accounting	NOUN
ajfa-6133	120	64	disclosure	disclosure	NOUN
ajfa-6133	120	65	and	and	CCONJ
ajfa-6133	120	66	legality	legality	NOUN
ajfa-6133	120	67	are	be	AUX
ajfa-6133	120	68	always	always	ADV
ajfa-6133	120	69	statistically	statistically	ADV
ajfa-6133	120	70	significant	significant	ADJ
ajfa-6133	120	71	at	at	ADP
ajfa-6133	120	72	1	1	NUM
ajfa-6133	120	73	%	%	NOUN
ajfa-6133	120	74	level	level	NOUN
ajfa-6133	120	75	.	.	PUNCT
ajfa-6133	121	1	specifically	specifically	ADV
ajfa-6133	121	2	,	,	PUNCT
ajfa-6133	121	3	the	the	DET
ajfa-6133	121	4	coefficient	coefficient	NOUN
ajfa-6133	121	5	of	of	ADP
ajfa-6133	121	6	the	the	DET
ajfa-6133	121	7	variable	variable	ADJ
ajfa-6133	121	8	accounting	accounting	NOUN
ajfa-6133	121	9	-	-	PUNCT
ajfa-6133	121	10	disclosure	disclosure	NOUN
ajfa-6133	121	11	is	be	AUX
ajfa-6133	121	12	equal	equal	ADJ
ajfa-6133	121	13	to	to	ADP
ajfa-6133	121	14	0.0041	0.0041	NUM
ajfa-6133	121	15	.	.	PUNCT
ajfa-6133	122	1	the	the	DET
ajfa-6133	122	2	coefficient	coefficient	NOUN
ajfa-6133	122	3	of	of	ADP
ajfa-6133	122	4	the	the	DET
ajfa-6133	122	5	variable	variable	ADJ
ajfa-6133	122	6	country	country	NOUN
ajfa-6133	122	7	-	-	PUNCT
ajfa-6133	122	8	legality	legality	NOUN
ajfa-6133	122	9	is	be	AUX
ajfa-6133	122	10	equal	equal	ADJ
ajfa-6133	122	11	to	to	ADP
ajfa-6133	122	12	0.0381	0.0381	NUM
ajfa-6133	122	13	.	.	PUNCT
ajfa-6133	123	1	the	the	DET
ajfa-6133	123	2	coefficient	coefficient	NOUN
ajfa-6133	123	3	of	of	ADP
ajfa-6133	123	4	the	the	DET
ajfa-6133	123	5	variable	variable	ADJ
ajfa-6133	123	6	accounting	accounting	NOUN
ajfa-6133	123	7	-	-	PUNCT
ajfa-6133	123	8	disclosure	disclosure	NOUN
ajfa-6133	123	9	*	*	PUNCT
ajfa-6133	123	10	country	country	NOUN
ajfa-6133	123	11	-	-	PUNCT
ajfa-6133	123	12	legality	legality	NOUN
ajfa-6133	123	13	is	be	AUX
ajfa-6133	123	14	equal	equal	ADJ
ajfa-6133	123	15	to	to	ADP
ajfa-6133	123	16	-0.0002	-0.0002	NOUN
ajfa-6133	123	17	.	.	PUNCT
ajfa-6133	124	1	this	this	DET
ajfa-6133	124	2	finding	finding	NOUN
ajfa-6133	124	3	indicates	indicate	VERB
ajfa-6133	124	4	that	that	SCONJ
ajfa-6133	124	5	the	the	DET
ajfa-6133	124	6	relation	relation	NOUN
ajfa-6133	124	7	between	between	ADP
ajfa-6133	124	8	accounting	accounting	NOUN
ajfa-6133	124	9	disclosure	disclosure	NOUN
ajfa-6133	124	10	and	and	CCONJ
ajfa-6133	124	11	r&d	r&d	NOUN
ajfa-6133	124	12	is	be	AUX
ajfa-6133	124	13	stronger	strong	ADJ
ajfa-6133	124	14	in	in	ADP
ajfa-6133	124	15	countries	country	NOUN
ajfa-6133	124	16	with	with	ADP
ajfa-6133	124	17	poor	poor	ADJ
ajfa-6133	124	18	investor	investor	NOUN
ajfa-6133	124	19	protection	protection	NOUN
ajfa-6133	124	20	.	.	PUNCT
ajfa-6133	125	1	when	when	SCONJ
ajfa-6133	125	2	we	we	PRON
ajfa-6133	125	3	include	include	VERB
ajfa-6133	125	4	firm	firm	ADJ
ajfa-6133	125	5	characteristics	characteristic	NOUN
ajfa-6133	125	6	,	,	PUNCT
ajfa-6133	125	7	the	the	DET
ajfa-6133	125	8	conclusion	conclusion	NOUN
ajfa-6133	125	9	does	do	AUX
ajfa-6133	125	10	not	not	PART
ajfa-6133	125	11	change	change	VERB
ajfa-6133	125	12	.	.	PUNCT
ajfa-6133	126	1	specifically	specifically	ADV
ajfa-6133	126	2	,	,	PUNCT
ajfa-6133	126	3	the	the	DET
ajfa-6133	126	4	coefficient	coefficient	NOUN
ajfa-6133	126	5	of	of	ADP
ajfa-6133	126	6	the	the	DET
ajfa-6133	126	7	variable	variable	ADJ
ajfa-6133	126	8	accounting	accounting	NOUN
ajfa-6133	126	9	-	-	PUNCT
ajfa-6133	126	10	disclosure	disclosure	NOUN
ajfa-6133	126	11	is	be	AUX
ajfa-6133	126	12	equal	equal	ADJ
ajfa-6133	126	13	to	to	ADP
ajfa-6133	126	14	0.0042	0.0042	NUM
ajfa-6133	126	15	.	.	PUNCT
ajfa-6133	127	1	the	the	DET
ajfa-6133	127	2	coefficient	coefficient	NOUN
ajfa-6133	127	3	of	of	ADP
ajfa-6133	127	4	the	the	DET
ajfa-6133	127	5	variable	variable	ADJ
ajfa-6133	127	6	country	country	NOUN
ajfa-6133	127	7	-	-	PUNCT
ajfa-6133	127	8	legality	legality	NOUN
ajfa-6133	127	9	is	be	AUX
ajfa-6133	127	10	equal	equal	ADJ
ajfa-6133	127	11	to	to	ADP
ajfa-6133	127	12	0.0380	0.0380	NUM
ajfa-6133	127	13	.	.	PUNCT
ajfa-6133	128	1	the	the	DET
ajfa-6133	128	2	coefficient	coefficient	NOUN
ajfa-6133	128	3	of	of	ADP
ajfa-6133	128	4	the	the	DET
ajfa-6133	128	5	variable	variable	ADJ
ajfa-6133	128	6	accounting	accounting	NOUN
ajfa-6133	128	7	-	-	PUNCT
ajfa-6133	128	8	disclosure	disclosure	NOUN
ajfa-6133	128	9	*	*	PUNCT
ajfa-6133	128	10	country	country	NOUN
ajfa-6133	128	11	-	-	PUNCT
ajfa-6133	128	12	legality	legality	NOUN
ajfa-6133	128	13	is	be	AUX
ajfa-6133	128	14	equal	equal	ADJ
ajfa-6133	128	15	to	to	ADP
ajfa-6133	128	16	-0.0002	-0.0002	NOUN
ajfa-6133	128	17	.	.	PUNCT
ajfa-6133	129	1	the	the	DET
ajfa-6133	129	2	coefficient	coefficient	NOUN
ajfa-6133	129	3	of	of	ADP
ajfa-6133	129	4	the	the	DET
ajfa-6133	129	5	variable	variable	ADJ
ajfa-6133	129	6	log	log	NOUN
ajfa-6133	129	7	-	-	PUNCT
ajfa-6133	129	8	assets	asset	NOUN
ajfa-6133	129	9	is	be	AUX
ajfa-6133	129	10	equal	equal	ADJ
ajfa-6133	129	11	to	to	ADP
ajfa-6133	129	12	0.2154	0.2154	NUM
ajfa-6133	129	13	.	.	PUNCT
ajfa-6133	130	1	asian	asian	ADJ
ajfa-6133	130	2	journal	journal	PROPN
ajfa-6133	130	3	of	of	ADP
ajfa-6133	130	4	finance	finance	PROPN
ajfa-6133	130	5	&	&	CCONJ
ajfa-6133	130	6	accounting	accounting	PROPN
ajfa-6133	130	7	issn	issn	PROPN
ajfa-6133	130	8	1946	1946	NUM
ajfa-6133	130	9	-	-	PUNCT
ajfa-6133	130	10	052x	052x	PROPN
ajfa-6133	130	11	2014	2014	NUM
ajfa-6133	130	12	,	,	PUNCT
ajfa-6133	130	13	vol	vol	NOUN
ajfa-6133	130	14	.	.	PROPN
ajfa-6133	131	1	6	6	NUM
ajfa-6133	131	2	,	,	PUNCT
ajfa-6133	131	3	no	no	INTJ
ajfa-6133	131	4	.	.	NOUN
ajfa-6133	131	5	2	2	NUM
ajfa-6133	131	6	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-6133	131	7	150	150	NUM
ajfa-6133	131	8	table	table	NOUN
ajfa-6133	131	9	4	4	NUM
ajfa-6133	131	10	.	.	PUNCT
ajfa-6133	131	11	regression	regression	NOUN
ajfa-6133	131	12	with	with	ADP
ajfa-6133	131	13	investor	investor	NOUN
ajfa-6133	131	14	protection	protection	NOUN
ajfa-6133	131	15	measured	measure	VERB
ajfa-6133	131	16	by	by	ADP
ajfa-6133	131	17	shareholder	shareholder	NOUN
ajfa-6133	131	18	-	-	PUNCT
ajfa-6133	131	19	rights	right	NOUN
ajfa-6133	131	20	company	company	NOUN
ajfa-6133	131	21	-	-	PUNCT
ajfa-6133	131	22	r&d	r&d	NOUN
ajfa-6133	131	23	(	(	PUNCT
ajfa-6133	131	24	1	1	NUM
ajfa-6133	131	25	)	)	PUNCT
ajfa-6133	131	26	(	(	PUNCT
ajfa-6133	131	27	2	2	X
ajfa-6133	131	28	)	)	PUNCT
ajfa-6133	131	29	accounting	accounting	NOUN
ajfa-6133	131	30	-	-	PUNCT
ajfa-6133	131	31	disclosure	disclosure	NOUN
ajfa-6133	131	32	0.0043	0.0043	NUM
ajfa-6133	131	33	*	*	PUNCT
ajfa-6133	131	34	*	*	PUNCT
ajfa-6133	131	35	*	*	PUNCT
ajfa-6133	132	1	0.0040	0.0040	NUM
ajfa-6133	132	2	*	*	PUNCT
ajfa-6133	132	3	*	*	PUNCT
ajfa-6133	132	4	*	*	PUNCT
ajfa-6133	132	5	(	(	PUNCT
ajfa-6133	132	6	4.778	4.778	NUM
ajfa-6133	132	7	)	)	PUNCT
ajfa-6133	132	8	(	(	PUNCT
ajfa-6133	132	9	4.457	4.457	NUM
ajfa-6133	132	10	)	)	PUNCT
ajfa-6133	132	11	shareholder	shareholder	NOUN
ajfa-6133	132	12	-	-	PUNCT
ajfa-6133	132	13	rights	right	NOUN
ajfa-6133	132	14	0.0351	0.0351	NOUN
ajfa-6133	132	15	*	*	PUNCT
ajfa-6133	132	16	*	*	PUNCT
ajfa-6133	133	1	*	*	PUNCT
ajfa-6133	133	2	0.0360	0.0360	NUM
ajfa-6133	133	3	*	*	PUNCT
ajfa-6133	133	4	*	*	PUNCT
ajfa-6133	133	5	*	*	PUNCT
ajfa-6133	133	6	(	(	PUNCT
ajfa-6133	133	7	3.893	3.893	NUM
ajfa-6133	133	8	)	)	PUNCT
ajfa-6133	133	9	(	(	PUNCT
ajfa-6133	133	10	4.782	4.782	NUM
ajfa-6133	133	11	)	)	PUNCT
ajfa-6133	133	12	accounting	accounting	NOUN
ajfa-6133	133	13	-	-	PUNCT
ajfa-6133	133	14	disclosure	disclosure	NOUN
ajfa-6133	133	15	*	*	PUNCT
ajfa-6133	133	16	shareholder	shareholder	NOUN
ajfa-6133	133	17	-	-	PUNCT
ajfa-6133	133	18	rights	right	NOUN
ajfa-6133	133	19	-0.0011	-0.0011	NOUN
ajfa-6133	133	20	*	*	PUNCT
ajfa-6133	133	21	*	*	PUNCT
ajfa-6133	133	22	*	*	PUNCT
ajfa-6133	133	23	-0.0010	-0.0010	NOUN
ajfa-6133	133	24	*	*	PUNCT
ajfa-6133	134	1	*	*	PUNCT
ajfa-6133	134	2	*	*	PUNCT
ajfa-6133	134	3	(	(	PUNCT
ajfa-6133	134	4	-4.987	-4.987	NUM
ajfa-6133	134	5	)	)	PUNCT
ajfa-6133	134	6	(	(	PUNCT
ajfa-6133	134	7	-4.815	-4.815	NOUN
ajfa-6133	134	8	)	)	PUNCT
ajfa-6133	134	9	log	log	NOUN
ajfa-6133	134	10	-	-	PUNCT
ajfa-6133	134	11	assets	asset	NOUN
ajfa-6133	134	12	0.2143	0.2143	NOUN
ajfa-6133	134	13	*	*	PUNCT
ajfa-6133	134	14	*	*	PUNCT
ajfa-6133	134	15	*	*	PUNCT
ajfa-6133	134	16	(	(	PUNCT
ajfa-6133	134	17	5.256	5.256	NUM
ajfa-6133	134	18	)	)	PUNCT
ajfa-6133	134	19	total	total	ADJ
ajfa-6133	134	20	-	-	PUNCT
ajfa-6133	134	21	liability	liability	NOUN
ajfa-6133	134	22	0.0049	0.0049	NUM
ajfa-6133	134	23	(	(	PUNCT
ajfa-6133	134	24	0.300	0.300	NUM
ajfa-6133	134	25	)	)	PUNCT
ajfa-6133	134	26	accounting	accounting	NOUN
ajfa-6133	134	27	-	-	PUNCT
ajfa-6133	134	28	earnings	earning	NOUN
ajfa-6133	134	29	0.0055	0.0055	NUM
ajfa-6133	134	30	(	(	PUNCT
ajfa-6133	134	31	0.301	0.301	NUM
ajfa-6133	134	32	)	)	PUNCT
ajfa-6133	134	33	control	control	NOUN
ajfa-6133	134	34	for	for	ADP
ajfa-6133	134	35	firm	firm	NOUN
ajfa-6133	134	36	-	-	PUNCT
ajfa-6133	134	37	governance	governance	NOUN
ajfa-6133	135	1	yes	yes	INTJ
ajfa-6133	135	2	yes	yes	INTJ
ajfa-6133	135	3	log	log	NOUN
ajfa-6133	135	4	-	-	PUNCT
ajfa-6133	135	5	gdp	gdp	NOUN
ajfa-6133	135	6	-	-	PUNCT
ajfa-6133	135	7	per	per	ADP
ajfa-6133	135	8	-	-	PUNCT
ajfa-6133	135	9	capita	capita	NOUN
ajfa-6133	136	1	yes	yes	INTJ
ajfa-6133	136	2	yes	yes	INTJ
ajfa-6133	136	3	log	log	NOUN
ajfa-6133	136	4	-	-	PUNCT
ajfa-6133	136	5	gdp	gdp	NOUN
ajfa-6133	136	6	-	-	PUNCT
ajfa-6133	136	7	growth	growth	NOUN
ajfa-6133	137	1	yes	yes	INTJ
ajfa-6133	137	2	yes	yes	INTJ
ajfa-6133	137	3	industry	industry	NOUN
ajfa-6133	137	4	effect	effect	NOUN
ajfa-6133	138	1	yes	yes	INTJ
ajfa-6133	138	2	yes	yes	INTJ
ajfa-6133	138	3	year	year	NOUN
ajfa-6133	138	4	effect	effect	NOUN
ajfa-6133	139	1	yes	yes	INTJ
ajfa-6133	139	2	yes	yes	INTJ
ajfa-6133	139	3	observations	observation	NOUN
ajfa-6133	139	4	807	807	NUM
ajfa-6133	139	5	641	641	NUM
ajfa-6133	139	6	adjusted	adjust	VERB
ajfa-6133	139	7	r	r	NOUN
ajfa-6133	139	8	-	-	PUNCT
ajfa-6133	139	9	squared	square	VERB
ajfa-6133	139	10	0.441	0.441	NUM
ajfa-6133	139	11	0.519	0.519	NUM
ajfa-6133	139	12	the	the	DET
ajfa-6133	139	13	table	table	NOUN
ajfa-6133	139	14	reports	report	NOUN
ajfa-6133	139	15	coefficients	coefficient	NOUN
ajfa-6133	139	16	and	and	CCONJ
ajfa-6133	139	17	t	t	PROPN
ajfa-6133	139	18	-	-	PUNCT
ajfa-6133	139	19	statistics	statistic	NOUN
ajfa-6133	139	20	.	.	PUNCT
ajfa-6133	140	1	significance	significance	NOUN
ajfa-6133	140	2	at	at	ADP
ajfa-6133	140	3	the	the	DET
ajfa-6133	140	4	10	10	NUM
ajfa-6133	140	5	%	%	NOUN
ajfa-6133	140	6	,	,	PUNCT
ajfa-6133	140	7	5	5	NUM
ajfa-6133	140	8	%	%	NOUN
ajfa-6133	140	9	and	and	CCONJ
ajfa-6133	140	10	1	1	NUM
ajfa-6133	140	11	%	%	NOUN
ajfa-6133	140	12	levels	level	NOUN
ajfa-6133	140	13	is	be	AUX
ajfa-6133	140	14	indicated	indicate	VERB
ajfa-6133	140	15	by	by	ADP
ajfa-6133	140	16	*	*	NOUN
ajfa-6133	140	17	,	,	PUNCT
ajfa-6133	140	18	*	*	PUNCT
ajfa-6133	140	19	*	*	PUNCT
ajfa-6133	140	20	,	,	PUNCT
ajfa-6133	140	21	and	and	CCONJ
ajfa-6133	140	22	*	*	PUNCT
ajfa-6133	140	23	*	*	PUNCT
ajfa-6133	140	24	*	*	PUNCT
ajfa-6133	140	25	,	,	PUNCT
ajfa-6133	140	26	respectively	respectively	ADV
ajfa-6133	140	27	.	.	PUNCT
ajfa-6133	141	1	in	in	ADP
ajfa-6133	141	2	calculating	calculate	VERB
ajfa-6133	141	3	standard	standard	ADJ
ajfa-6133	141	4	errors	error	NOUN
ajfa-6133	141	5	,	,	PUNCT
ajfa-6133	141	6	we	we	PRON
ajfa-6133	141	7	cluster	cluster	VERB
ajfa-6133	141	8	by	by	ADP
ajfa-6133	141	9	firm	firm	NOUN
ajfa-6133	141	10	.	.	PUNCT
ajfa-6133	142	1	our	our	PRON
ajfa-6133	142	2	firm	firm	ADJ
ajfa-6133	142	3	-	-	PUNCT
ajfa-6133	142	4	level	level	NOUN
ajfa-6133	142	5	accounting	accounting	NOUN
ajfa-6133	142	6	disclosure	disclosure	NOUN
ajfa-6133	142	7	and	and	CCONJ
ajfa-6133	142	8	corporate	corporate	ADJ
ajfa-6133	142	9	governance	governance	NOUN
ajfa-6133	142	10	data	datum	NOUN
ajfa-6133	142	11	is	be	AUX
ajfa-6133	142	12	from	from	ADP
ajfa-6133	142	13	the	the	DET
ajfa-6133	142	14	survey	survey	NOUN
ajfa-6133	142	15	data	datum	NOUN
ajfa-6133	142	16	by	by	ADP
ajfa-6133	142	17	credit	credit	NOUN
ajfa-6133	142	18	lyonnais	lyonnais	PROPN
ajfa-6133	142	19	securities	securities	PROPN
ajfa-6133	142	20	asia	asia	PROPN
ajfa-6133	142	21	.	.	PUNCT
ajfa-6133	143	1	we	we	PRON
ajfa-6133	143	2	use	use	VERB
ajfa-6133	143	3	the	the	DET
ajfa-6133	143	4	three	three	NUM
ajfa-6133	143	5	country	country	NOUN
ajfa-6133	143	6	-	-	PUNCT
ajfa-6133	143	7	level	level	NOUN
ajfa-6133	143	8	governance	governance	NOUN
ajfa-6133	143	9	measures	measure	NOUN
ajfa-6133	143	10	such	such	ADJ
ajfa-6133	143	11	as	as	ADP
ajfa-6133	143	12	judicial	judicial	ADJ
ajfa-6133	143	13	efficiency	efficiency	NOUN
ajfa-6133	143	14	,	,	PUNCT
ajfa-6133	143	15	legality	legality	NOUN
ajfa-6133	143	16	,	,	PUNCT
ajfa-6133	143	17	and	and	CCONJ
ajfa-6133	143	18	shareholder	shareholder	NOUN
ajfa-6133	143	19	rights	right	NOUN
ajfa-6133	143	20	from	from	ADP
ajfa-6133	143	21	la	la	ADV
ajfa-6133	143	22	porta	porta	NOUN
ajfa-6133	143	23	et	et	PROPN
ajfa-6133	143	24	al	al	PROPN
ajfa-6133	143	25	.	.	PROPN
ajfa-6133	144	1	(	(	PUNCT
ajfa-6133	144	2	1998	1998	NUM
ajfa-6133	144	3	)	)	PUNCT
ajfa-6133	144	4	and	and	CCONJ
ajfa-6133	144	5	the	the	DET
ajfa-6133	144	6	international	international	ADJ
ajfa-6133	144	7	country	country	NOUN
ajfa-6133	144	8	risk	risk	NOUN
ajfa-6133	144	9	guide	guide	NOUN
ajfa-6133	144	10	(	(	PUNCT
ajfa-6133	144	11	2000	2000	NUM
ajfa-6133	144	12	)	)	PUNCT
ajfa-6133	144	13	.	.	PUNCT
ajfa-6133	145	1	we	we	PRON
ajfa-6133	145	2	obtain	obtain	VERB
ajfa-6133	145	3	our	our	PRON
ajfa-6133	145	4	dependent	dependent	ADJ
ajfa-6133	145	5	variable	variable	NOUN
ajfa-6133	145	6	from	from	ADP
ajfa-6133	145	7	worldscope	worldscope	NOUN
ajfa-6133	145	8	,	,	PUNCT
ajfa-6133	145	9	and	and	CCONJ
ajfa-6133	145	10	define	define	VERB
ajfa-6133	145	11	r&d	r&d	NOUN
ajfa-6133	145	12	as	as	ADP
ajfa-6133	145	13	the	the	DET
ajfa-6133	145	14	ratio	ratio	NOUN
ajfa-6133	145	15	of	of	ADP
ajfa-6133	145	16	a	a	DET
ajfa-6133	145	17	firm	firm	NOUN
ajfa-6133	145	18	’s	’s	PART
ajfa-6133	145	19	r&d	r&d	NOUN
ajfa-6133	145	20	expenditures	expenditure	NOUN
ajfa-6133	145	21	to	to	ADP
ajfa-6133	145	22	sales	sale	NOUN
ajfa-6133	145	23	.	.	PUNCT
ajfa-6133	146	1	we	we	PRON
ajfa-6133	146	2	also	also	ADV
ajfa-6133	146	3	control	control	VERB
ajfa-6133	146	4	for	for	ADP
ajfa-6133	146	5	the	the	DET
ajfa-6133	146	6	logarithm	logarithm	NOUN
ajfa-6133	146	7	of	of	ADP
ajfa-6133	146	8	firm	firm	ADJ
ajfa-6133	146	9	assets	asset	NOUN
ajfa-6133	146	10	,	,	PUNCT
ajfa-6133	146	11	total	total	ADJ
ajfa-6133	146	12	liability	liability	NOUN
ajfa-6133	146	13	,	,	PUNCT
ajfa-6133	146	14	accounting	accounting	NOUN
ajfa-6133	146	15	earnings	earning	NOUN
ajfa-6133	146	16	,	,	PUNCT
ajfa-6133	146	17	gdp	gdp	NOUN
ajfa-6133	146	18	growth	growth	NOUN
ajfa-6133	146	19	,	,	PUNCT
ajfa-6133	146	20	gdp	gdp	NOUN
ajfa-6133	146	21	per	per	ADP
ajfa-6133	146	22	capita	capita	NOUN
ajfa-6133	146	23	.	.	PUNCT
ajfa-6133	147	1	our	our	PRON
ajfa-6133	147	2	sample	sample	NOUN
ajfa-6133	147	3	period	period	NOUN
ajfa-6133	147	4	is	be	AUX
ajfa-6133	147	5	between	between	ADP
ajfa-6133	147	6	2000	2000	NUM
ajfa-6133	147	7	and	and	CCONJ
ajfa-6133	147	8	2005	2005	NUM
ajfa-6133	147	9	.	.	PUNCT
ajfa-6133	148	1	our	our	PRON
ajfa-6133	148	2	final	final	ADJ
ajfa-6133	148	3	sample	sample	NOUN
ajfa-6133	148	4	includes	include	VERB
ajfa-6133	148	5	807	807	NUM
ajfa-6133	148	6	observations	observation	NOUN
ajfa-6133	148	7	in	in	ADP
ajfa-6133	148	8	fourteen	fourteen	NUM
ajfa-6133	148	9	emerging	emerge	VERB
ajfa-6133	148	10	markets	market	NOUN
ajfa-6133	148	11	.	.	PUNCT
ajfa-6133	149	1	in	in	ADP
ajfa-6133	149	2	table	table	NOUN
ajfa-6133	149	3	4	4	NUM
ajfa-6133	149	4	,	,	PUNCT
ajfa-6133	149	5	we	we	PRON
ajfa-6133	149	6	estimate	estimate	VERB
ajfa-6133	149	7	the	the	DET
ajfa-6133	149	8	following	follow	VERB
ajfa-6133	149	9	equation	equation	NOUN
ajfa-6133	149	10	:	:	PUNCT
ajfa-6133	149	11	company	company	NOUN
ajfa-6133	149	12	-	-	PUNCT
ajfa-6133	149	13	r&d	r&d	NOUN
ajfa-6133	149	14	=	=	NOUN
ajfa-6133	149	15	α	α	PROPN
ajfa-6133	149	16	+	+	CCONJ
ajfa-6133	149	17	β1	β1	NOUN
ajfa-6133	149	18	accounting	accounting	NOUN
ajfa-6133	149	19	-	-	PUNCT
ajfa-6133	149	20	disclosure	disclosure	NOUN
ajfa-6133	149	21	+	+	CCONJ
ajfa-6133	149	22	β2	β2	ADJ
ajfa-6133	149	23	shareholder	shareholder	NOUN
ajfa-6133	149	24	-	-	PUNCT
ajfa-6133	149	25	rights	right	NOUN
ajfa-6133	149	26	+	+	CCONJ
ajfa-6133	149	27	β3	β3	VERB
ajfa-6133	149	28	accounting	accounting	NOUN
ajfa-6133	149	29	-	-	PUNCT
ajfa-6133	149	30	disclosure	disclosure	NOUN
ajfa-6133	149	31	*	*	PUNCT
ajfa-6133	149	32	shareholder	shareholder	NOUN
ajfa-6133	149	33	-	-	PUNCT
ajfa-6133	149	34	rights	right	NOUN
ajfa-6133	149	35	+	+	CCONJ
ajfa-6133	149	36	β4	β4	PROPN
ajfa-6133	149	37	control	control	NOUN
ajfa-6133	149	38	variables	variable	NOUN
ajfa-6133	149	39	+	+	CCONJ
ajfa-6133	149	40	industry	industry	NOUN
ajfa-6133	149	41	effects	effect	NOUN
ajfa-6133	149	42	+	+	CCONJ
ajfa-6133	149	43	year	year	NOUN
ajfa-6133	149	44	effects	effect	NOUN
ajfa-6133	149	45	+	+	CCONJ
ajfa-6133	149	46	ε	ε	PROPN
ajfa-6133	149	47	(	(	PUNCT
ajfa-6133	149	48	4	4	NUM
ajfa-6133	149	49	)	)	PUNCT
ajfa-6133	149	50	as	as	SCONJ
ajfa-6133	149	51	shown	show	VERB
ajfa-6133	149	52	in	in	ADP
ajfa-6133	149	53	table	table	NOUN
ajfa-6133	149	54	4	4	NUM
ajfa-6133	149	55	,	,	PUNCT
ajfa-6133	149	56	the	the	DET
ajfa-6133	149	57	coefficients	coefficient	NOUN
ajfa-6133	149	58	of	of	ADP
ajfa-6133	149	59	the	the	DET
ajfa-6133	149	60	interaction	interaction	NOUN
ajfa-6133	149	61	terms	term	NOUN
ajfa-6133	149	62	between	between	ADP
ajfa-6133	149	63	accounting	accounting	NOUN
ajfa-6133	149	64	disclosure	disclosure	NOUN
ajfa-6133	149	65	and	and	CCONJ
ajfa-6133	149	66	shareholder	shareholder	NOUN
ajfa-6133	149	67	rights	right	NOUN
ajfa-6133	149	68	are	be	AUX
ajfa-6133	149	69	always	always	ADV
ajfa-6133	149	70	statistically	statistically	ADV
ajfa-6133	149	71	significant	significant	ADJ
ajfa-6133	149	72	at	at	ADP
ajfa-6133	149	73	1	1	NUM
ajfa-6133	149	74	%	%	NOUN
ajfa-6133	149	75	level	level	NOUN
ajfa-6133	149	76	.	.	PUNCT
ajfa-6133	150	1	specifically	specifically	ADV
ajfa-6133	150	2	,	,	PUNCT
ajfa-6133	150	3	the	the	DET
ajfa-6133	150	4	coefficient	coefficient	NOUN
ajfa-6133	150	5	of	of	ADP
ajfa-6133	150	6	the	the	DET
ajfa-6133	150	7	variable	variable	ADJ
ajfa-6133	150	8	accounting	accounting	NOUN
ajfa-6133	150	9	-	-	PUNCT
ajfa-6133	150	10	disclosure	disclosure	NOUN
ajfa-6133	150	11	is	be	AUX
ajfa-6133	150	12	equal	equal	ADJ
ajfa-6133	150	13	to	to	ADP
ajfa-6133	150	14	0.0043	0.0043	NUM
ajfa-6133	150	15	.	.	PUNCT
ajfa-6133	151	1	the	the	DET
ajfa-6133	151	2	coefficient	coefficient	NOUN
ajfa-6133	151	3	of	of	ADP
ajfa-6133	151	4	the	the	DET
ajfa-6133	151	5	asian	asian	ADJ
ajfa-6133	151	6	journal	journal	NOUN
ajfa-6133	151	7	of	of	ADP
ajfa-6133	151	8	finance	finance	PROPN
ajfa-6133	151	9	&	&	CCONJ
ajfa-6133	151	10	accounting	accounting	PROPN
ajfa-6133	151	11	issn	issn	PROPN
ajfa-6133	151	12	1946	1946	NUM
ajfa-6133	151	13	-	-	PUNCT
ajfa-6133	151	14	052x	052x	PROPN
ajfa-6133	151	15	2014	2014	NUM
ajfa-6133	151	16	,	,	PUNCT
ajfa-6133	151	17	vol	vol	NOUN
ajfa-6133	151	18	.	.	PROPN
ajfa-6133	151	19	6	6	NUM
ajfa-6133	151	20	,	,	PUNCT
ajfa-6133	151	21	no	no	INTJ
ajfa-6133	151	22	.	.	NOUN
ajfa-6133	151	23	2	2	NUM
ajfa-6133	151	24	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-6133	151	25	151	151	NUM
ajfa-6133	151	26	variable	variable	ADJ
ajfa-6133	151	27	shareholder	shareholder	NOUN
ajfa-6133	151	28	-	-	PUNCT
ajfa-6133	151	29	rights	right	NOUN
ajfa-6133	151	30	is	be	AUX
ajfa-6133	151	31	equal	equal	ADJ
ajfa-6133	151	32	to	to	ADP
ajfa-6133	151	33	0.0351	0.0351	NUM
ajfa-6133	151	34	.	.	PUNCT
ajfa-6133	152	1	the	the	DET
ajfa-6133	152	2	coefficient	coefficient	NOUN
ajfa-6133	152	3	of	of	ADP
ajfa-6133	152	4	the	the	DET
ajfa-6133	152	5	variable	variable	ADJ
ajfa-6133	152	6	accounting	accounting	NOUN
ajfa-6133	152	7	-	-	PUNCT
ajfa-6133	152	8	disclosure	disclosure	NOUN
ajfa-6133	152	9	*	*	PUNCT
ajfa-6133	152	10	shareholder	shareholder	NOUN
ajfa-6133	152	11	-	-	PUNCT
ajfa-6133	152	12	rights	right	NOUN
ajfa-6133	152	13	is	be	AUX
ajfa-6133	152	14	equal	equal	ADJ
ajfa-6133	152	15	to	to	ADP
ajfa-6133	152	16	-0.0011	-0.0011	PROPN
ajfa-6133	152	17	.	.	PUNCT
ajfa-6133	153	1	this	this	DET
ajfa-6133	153	2	finding	finding	NOUN
ajfa-6133	153	3	indicates	indicate	VERB
ajfa-6133	153	4	that	that	SCONJ
ajfa-6133	153	5	the	the	DET
ajfa-6133	153	6	relation	relation	NOUN
ajfa-6133	153	7	between	between	ADP
ajfa-6133	153	8	accounting	accounting	NOUN
ajfa-6133	153	9	disclosure	disclosure	NOUN
ajfa-6133	153	10	and	and	CCONJ
ajfa-6133	153	11	r&d	r&d	NOUN
ajfa-6133	153	12	is	be	AUX
ajfa-6133	153	13	stronger	strong	ADJ
ajfa-6133	153	14	in	in	ADP
ajfa-6133	153	15	countries	country	NOUN
ajfa-6133	153	16	with	with	ADP
ajfa-6133	153	17	poor	poor	ADJ
ajfa-6133	153	18	investor	investor	NOUN
ajfa-6133	153	19	protection	protection	NOUN
ajfa-6133	153	20	.	.	PUNCT
ajfa-6133	154	1	when	when	SCONJ
ajfa-6133	154	2	we	we	PRON
ajfa-6133	154	3	include	include	VERB
ajfa-6133	154	4	firm	firm	ADJ
ajfa-6133	154	5	characteristics	characteristic	NOUN
ajfa-6133	154	6	,	,	PUNCT
ajfa-6133	154	7	the	the	DET
ajfa-6133	154	8	conclusion	conclusion	NOUN
ajfa-6133	154	9	does	do	AUX
ajfa-6133	154	10	not	not	PART
ajfa-6133	154	11	change	change	VERB
ajfa-6133	154	12	.	.	PUNCT
ajfa-6133	155	1	specifically	specifically	ADV
ajfa-6133	155	2	,	,	PUNCT
ajfa-6133	155	3	the	the	DET
ajfa-6133	155	4	coefficient	coefficient	NOUN
ajfa-6133	155	5	of	of	ADP
ajfa-6133	155	6	the	the	DET
ajfa-6133	155	7	variable	variable	ADJ
ajfa-6133	155	8	accounting	accounting	NOUN
ajfa-6133	155	9	-	-	PUNCT
ajfa-6133	155	10	disclosure	disclosure	NOUN
ajfa-6133	155	11	is	be	AUX
ajfa-6133	155	12	equal	equal	ADJ
ajfa-6133	155	13	to	to	ADP
ajfa-6133	155	14	0.0040	0.0040	NUM
ajfa-6133	155	15	.	.	PUNCT
ajfa-6133	156	1	the	the	DET
ajfa-6133	156	2	coefficient	coefficient	NOUN
ajfa-6133	156	3	of	of	ADP
ajfa-6133	156	4	the	the	DET
ajfa-6133	156	5	variable	variable	ADJ
ajfa-6133	156	6	shareholder	shareholder	NOUN
ajfa-6133	156	7	-	-	PUNCT
ajfa-6133	156	8	rights	right	NOUN
ajfa-6133	156	9	is	be	AUX
ajfa-6133	156	10	equal	equal	ADJ
ajfa-6133	156	11	to	to	ADP
ajfa-6133	156	12	0.0360	0.0360	NUM
ajfa-6133	156	13	.	.	PUNCT
ajfa-6133	157	1	the	the	DET
ajfa-6133	157	2	coefficient	coefficient	NOUN
ajfa-6133	157	3	of	of	ADP
ajfa-6133	157	4	the	the	DET
ajfa-6133	157	5	variable	variable	ADJ
ajfa-6133	157	6	accounting	accounting	NOUN
ajfa-6133	157	7	-	-	PUNCT
ajfa-6133	157	8	disclosure	disclosure	NOUN
ajfa-6133	157	9	*	*	PUNCT
ajfa-6133	157	10	shareholder	shareholder	NOUN
ajfa-6133	157	11	-	-	PUNCT
ajfa-6133	157	12	rights	right	NOUN
ajfa-6133	157	13	is	be	AUX
ajfa-6133	157	14	equal	equal	ADJ
ajfa-6133	157	15	to	to	ADP
ajfa-6133	157	16	-0.0010	-0.0010	NOUN
ajfa-6133	157	17	.	.	PUNCT
ajfa-6133	158	1	the	the	DET
ajfa-6133	158	2	coefficient	coefficient	NOUN
ajfa-6133	158	3	of	of	ADP
ajfa-6133	158	4	the	the	DET
ajfa-6133	158	5	variable	variable	ADJ
ajfa-6133	158	6	log	log	NOUN
ajfa-6133	158	7	-	-	PUNCT
ajfa-6133	158	8	assets	asset	NOUN
ajfa-6133	158	9	is	be	AUX
ajfa-6133	158	10	equal	equal	ADJ
ajfa-6133	158	11	to	to	ADP
ajfa-6133	158	12	0.2143	0.2143	NUM
ajfa-6133	158	13	.	.	PUNCT
ajfa-6133	158	14	table	table	NOUN
ajfa-6133	158	15	5	5	NUM
ajfa-6133	158	16	.	.	PUNCT
ajfa-6133	159	1	regression	regression	NOUN
ajfa-6133	159	2	with	with	ADP
ajfa-6133	159	3	investor	investor	NOUN
ajfa-6133	159	4	protection	protection	NOUN
ajfa-6133	159	5	measured	measure	VERB
ajfa-6133	159	6	by	by	ADP
ajfa-6133	159	7	firm	firm	ADJ
ajfa-6133	159	8	-	-	PUNCT
ajfa-6133	159	9	governance	governance	NOUN
ajfa-6133	159	10	company	company	NOUN
ajfa-6133	159	11	-	-	PUNCT
ajfa-6133	159	12	r&d	r&d	NOUN
ajfa-6133	159	13	(	(	PUNCT
ajfa-6133	159	14	1	1	NUM
ajfa-6133	159	15	)	)	PUNCT
ajfa-6133	159	16	(	(	PUNCT
ajfa-6133	159	17	2	2	X
ajfa-6133	159	18	)	)	PUNCT
ajfa-6133	159	19	accounting	accounting	NOUN
ajfa-6133	159	20	-	-	PUNCT
ajfa-6133	159	21	disclosure	disclosure	NOUN
ajfa-6133	159	22	0.0053	0.0053	NUM
ajfa-6133	159	23	*	*	PUNCT
ajfa-6133	159	24	*	*	PUNCT
ajfa-6133	159	25	*	*	PUNCT
ajfa-6133	159	26	0.0052	0.0052	PRON
ajfa-6133	159	27	*	*	PUNCT
ajfa-6133	159	28	*	*	PUNCT
ajfa-6133	159	29	*	*	PUNCT
ajfa-6133	159	30	(	(	PUNCT
ajfa-6133	159	31	4.799	4.799	NUM
ajfa-6133	159	32	)	)	PUNCT
ajfa-6133	159	33	(	(	PUNCT
ajfa-6133	159	34	4.490	4.490	NUM
ajfa-6133	159	35	)	)	PUNCT
ajfa-6133	159	36	firm	firm	NOUN
ajfa-6133	159	37	-	-	PUNCT
ajfa-6133	159	38	governance	governance	NOUN
ajfa-6133	159	39	0.0050	0.0050	NUM
ajfa-6133	159	40	*	*	PUNCT
ajfa-6133	159	41	*	*	PUNCT
ajfa-6133	159	42	*	*	PUNCT
ajfa-6133	160	1	0.0068	0.0068	NUM
ajfa-6133	160	2	*	*	PUNCT
ajfa-6133	160	3	*	*	PUNCT
ajfa-6133	160	4	*	*	PUNCT
ajfa-6133	160	5	(	(	PUNCT
ajfa-6133	160	6	3.898	3.898	NUM
ajfa-6133	160	7	)	)	PUNCT
ajfa-6133	160	8	(	(	PUNCT
ajfa-6133	160	9	4.789	4.789	NOUN
ajfa-6133	160	10	)	)	PUNCT
ajfa-6133	160	11	accounting	accounting	NOUN
ajfa-6133	160	12	-	-	PUNCT
ajfa-6133	160	13	disclosure	disclosure	NOUN
ajfa-6133	160	14	*	*	PUNCT
ajfa-6133	160	15	firm	firm	ADJ
ajfa-6133	160	16	-	-	PUNCT
ajfa-6133	160	17	governance	governance	NOUN
ajfa-6133	160	18	-0.0002	-0.0002	NOUN
ajfa-6133	160	19	*	*	PUNCT
ajfa-6133	160	20	*	*	PUNCT
ajfa-6133	160	21	*	*	NOUN
ajfa-6133	160	22	-0.0002	-0.0002	NOUN
ajfa-6133	160	23	*	*	PUNCT
ajfa-6133	160	24	*	*	PUNCT
ajfa-6133	160	25	*	*	PUNCT
ajfa-6133	160	26	(	(	PUNCT
ajfa-6133	160	27	-4.944	-4.944	NOUN
ajfa-6133	160	28	)	)	PUNCT
ajfa-6133	160	29	(	(	PUNCT
ajfa-6133	160	30	-4.899	-4.899	X
ajfa-6133	160	31	)	)	PUNCT
ajfa-6133	160	32	log	log	NOUN
ajfa-6133	160	33	-	-	PUNCT
ajfa-6133	160	34	assets	asset	NOUN
ajfa-6133	160	35	0.2112	0.2112	PUNCT
ajfa-6133	160	36	*	*	PUNCT
ajfa-6133	160	37	*	*	PUNCT
ajfa-6133	160	38	*	*	PUNCT
ajfa-6133	160	39	(	(	PUNCT
ajfa-6133	160	40	5.222	5.222	NUM
ajfa-6133	160	41	)	)	PUNCT
ajfa-6133	160	42	total	total	ADJ
ajfa-6133	160	43	-	-	PUNCT
ajfa-6133	160	44	liability	liability	NOUN
ajfa-6133	160	45	0.0044	0.0044	NUM
ajfa-6133	160	46	(	(	PUNCT
ajfa-6133	160	47	0.255	0.255	NUM
ajfa-6133	160	48	)	)	PUNCT
ajfa-6133	160	49	accounting	accounting	NOUN
ajfa-6133	160	50	-	-	PUNCT
ajfa-6133	160	51	earnings	earning	NOUN
ajfa-6133	160	52	0.0052	0.0052	NUM
ajfa-6133	160	53	(	(	PUNCT
ajfa-6133	160	54	0.300	0.300	NUM
ajfa-6133	160	55	)	)	PUNCT
ajfa-6133	160	56	control	control	NOUN
ajfa-6133	160	57	for	for	ADP
ajfa-6133	160	58	country	country	NOUN
ajfa-6133	160	59	-	-	PUNCT
ajfa-6133	160	60	legality	legality	NOUN
ajfa-6133	161	1	yes	yes	INTJ
ajfa-6133	161	2	yes	yes	INTJ
ajfa-6133	161	3	log	log	NOUN
ajfa-6133	161	4	-	-	PUNCT
ajfa-6133	161	5	gdp	gdp	NOUN
ajfa-6133	161	6	-	-	PUNCT
ajfa-6133	161	7	per	per	ADP
ajfa-6133	161	8	-	-	PUNCT
ajfa-6133	161	9	capita	capita	NOUN
ajfa-6133	162	1	yes	yes	INTJ
ajfa-6133	162	2	yes	yes	INTJ
ajfa-6133	162	3	log	log	NOUN
ajfa-6133	162	4	-	-	PUNCT
ajfa-6133	162	5	gdp	gdp	NOUN
ajfa-6133	162	6	-	-	PUNCT
ajfa-6133	162	7	growth	growth	NOUN
ajfa-6133	163	1	yes	yes	INTJ
ajfa-6133	163	2	yes	yes	INTJ
ajfa-6133	163	3	industry	industry	NOUN
ajfa-6133	163	4	effect	effect	NOUN
ajfa-6133	164	1	yes	yes	INTJ
ajfa-6133	164	2	yes	yes	INTJ
ajfa-6133	164	3	year	year	NOUN
ajfa-6133	164	4	effect	effect	NOUN
ajfa-6133	165	1	yes	yes	INTJ
ajfa-6133	165	2	yes	yes	INTJ
ajfa-6133	165	3	observations	observation	NOUN
ajfa-6133	165	4	807	807	NUM
ajfa-6133	165	5	641	641	NUM
ajfa-6133	165	6	adjusted	adjust	VERB
ajfa-6133	165	7	r	r	NOUN
ajfa-6133	165	8	-	-	PUNCT
ajfa-6133	165	9	squared	square	VERB
ajfa-6133	165	10	0.440	0.440	NUM
ajfa-6133	165	11	0.513	0.513	NUM
ajfa-6133	165	12	the	the	DET
ajfa-6133	165	13	table	table	NOUN
ajfa-6133	165	14	reports	report	NOUN
ajfa-6133	165	15	coefficients	coefficient	NOUN
ajfa-6133	165	16	and	and	CCONJ
ajfa-6133	165	17	t	t	PROPN
ajfa-6133	165	18	-	-	PUNCT
ajfa-6133	165	19	statistics	statistic	NOUN
ajfa-6133	165	20	.	.	PUNCT
ajfa-6133	166	1	significance	significance	NOUN
ajfa-6133	166	2	at	at	ADP
ajfa-6133	166	3	the	the	DET
ajfa-6133	166	4	10	10	NUM
ajfa-6133	166	5	%	%	NOUN
ajfa-6133	166	6	,	,	PUNCT
ajfa-6133	166	7	5	5	NUM
ajfa-6133	166	8	%	%	NOUN
ajfa-6133	166	9	and	and	CCONJ
ajfa-6133	166	10	1	1	NUM
ajfa-6133	166	11	%	%	NOUN
ajfa-6133	166	12	levels	level	NOUN
ajfa-6133	166	13	is	be	AUX
ajfa-6133	166	14	indicated	indicate	VERB
ajfa-6133	166	15	by	by	ADP
ajfa-6133	166	16	*	*	NOUN
ajfa-6133	166	17	,	,	PUNCT
ajfa-6133	166	18	*	*	PUNCT
ajfa-6133	166	19	*	*	PUNCT
ajfa-6133	166	20	,	,	PUNCT
ajfa-6133	166	21	and	and	CCONJ
ajfa-6133	166	22	*	*	PUNCT
ajfa-6133	166	23	*	*	PUNCT
ajfa-6133	166	24	*	*	PUNCT
ajfa-6133	166	25	,	,	PUNCT
ajfa-6133	166	26	respectively	respectively	ADV
ajfa-6133	166	27	.	.	PUNCT
ajfa-6133	167	1	in	in	ADP
ajfa-6133	167	2	calculating	calculate	VERB
ajfa-6133	167	3	standard	standard	ADJ
ajfa-6133	167	4	errors	error	NOUN
ajfa-6133	167	5	,	,	PUNCT
ajfa-6133	167	6	we	we	PRON
ajfa-6133	167	7	cluster	cluster	VERB
ajfa-6133	167	8	by	by	ADP
ajfa-6133	167	9	firm	firm	NOUN
ajfa-6133	167	10	.	.	PUNCT
ajfa-6133	168	1	our	our	PRON
ajfa-6133	168	2	firm	firm	ADJ
ajfa-6133	168	3	-	-	PUNCT
ajfa-6133	168	4	level	level	NOUN
ajfa-6133	168	5	accounting	accounting	NOUN
ajfa-6133	168	6	disclosure	disclosure	NOUN
ajfa-6133	168	7	and	and	CCONJ
ajfa-6133	168	8	corporate	corporate	ADJ
ajfa-6133	168	9	governance	governance	NOUN
ajfa-6133	168	10	data	datum	NOUN
ajfa-6133	168	11	is	be	AUX
ajfa-6133	168	12	from	from	ADP
ajfa-6133	168	13	the	the	DET
ajfa-6133	168	14	survey	survey	NOUN
ajfa-6133	168	15	data	datum	NOUN
ajfa-6133	168	16	by	by	ADP
ajfa-6133	168	17	credit	credit	NOUN
ajfa-6133	168	18	lyonnais	lyonnais	PROPN
ajfa-6133	168	19	securities	securities	PROPN
ajfa-6133	168	20	asia	asia	PROPN
ajfa-6133	168	21	.	.	PUNCT
ajfa-6133	169	1	we	we	PRON
ajfa-6133	169	2	use	use	VERB
ajfa-6133	169	3	the	the	DET
ajfa-6133	169	4	three	three	NUM
ajfa-6133	169	5	country	country	NOUN
ajfa-6133	169	6	-	-	PUNCT
ajfa-6133	169	7	level	level	NOUN
ajfa-6133	169	8	governance	governance	NOUN
ajfa-6133	169	9	measures	measure	NOUN
ajfa-6133	169	10	such	such	ADJ
ajfa-6133	169	11	as	as	ADP
ajfa-6133	169	12	judicial	judicial	ADJ
ajfa-6133	169	13	efficiency	efficiency	NOUN
ajfa-6133	169	14	,	,	PUNCT
ajfa-6133	169	15	legality	legality	NOUN
ajfa-6133	169	16	,	,	PUNCT
ajfa-6133	169	17	and	and	CCONJ
ajfa-6133	169	18	shareholder	shareholder	NOUN
ajfa-6133	169	19	rights	right	NOUN
ajfa-6133	169	20	from	from	ADP
ajfa-6133	169	21	la	la	ADV
ajfa-6133	169	22	porta	porta	NOUN
ajfa-6133	169	23	et	et	PROPN
ajfa-6133	169	24	al	al	PROPN
ajfa-6133	169	25	.	.	PROPN
ajfa-6133	170	1	(	(	PUNCT
ajfa-6133	170	2	1998	1998	NUM
ajfa-6133	170	3	)	)	PUNCT
ajfa-6133	170	4	and	and	CCONJ
ajfa-6133	170	5	the	the	DET
ajfa-6133	170	6	international	international	ADJ
ajfa-6133	170	7	country	country	NOUN
ajfa-6133	170	8	risk	risk	NOUN
ajfa-6133	170	9	guide	guide	NOUN
ajfa-6133	170	10	(	(	PUNCT
ajfa-6133	170	11	2000	2000	NUM
ajfa-6133	170	12	)	)	PUNCT
ajfa-6133	170	13	.	.	PUNCT
ajfa-6133	171	1	we	we	PRON
ajfa-6133	171	2	obtain	obtain	VERB
ajfa-6133	171	3	our	our	PRON
ajfa-6133	171	4	dependent	dependent	ADJ
ajfa-6133	171	5	variable	variable	NOUN
ajfa-6133	171	6	from	from	ADP
ajfa-6133	171	7	worldscope	worldscope	NOUN
ajfa-6133	171	8	,	,	PUNCT
ajfa-6133	171	9	and	and	CCONJ
ajfa-6133	171	10	define	define	VERB
ajfa-6133	171	11	r&d	r&d	NOUN
ajfa-6133	171	12	as	as	ADP
ajfa-6133	171	13	the	the	DET
ajfa-6133	171	14	ratio	ratio	NOUN
ajfa-6133	171	15	of	of	ADP
ajfa-6133	171	16	a	a	DET
ajfa-6133	171	17	firm	firm	NOUN
ajfa-6133	171	18	’s	’s	PART
ajfa-6133	171	19	r&d	r&d	NOUN
ajfa-6133	171	20	expenditures	expenditure	NOUN
ajfa-6133	171	21	to	to	ADP
ajfa-6133	171	22	sales	sale	NOUN
ajfa-6133	171	23	.	.	PUNCT
ajfa-6133	172	1	we	we	PRON
ajfa-6133	172	2	also	also	ADV
ajfa-6133	172	3	control	control	VERB
ajfa-6133	172	4	for	for	ADP
ajfa-6133	172	5	the	the	DET
ajfa-6133	172	6	logarithm	logarithm	NOUN
ajfa-6133	172	7	of	of	ADP
ajfa-6133	172	8	firm	firm	ADJ
ajfa-6133	172	9	assets	asset	NOUN
ajfa-6133	172	10	,	,	PUNCT
ajfa-6133	172	11	total	total	ADJ
ajfa-6133	172	12	liability	liability	NOUN
ajfa-6133	172	13	,	,	PUNCT
ajfa-6133	172	14	accounting	accounting	NOUN
ajfa-6133	172	15	earnings	earning	NOUN
ajfa-6133	172	16	,	,	PUNCT
ajfa-6133	172	17	gdp	gdp	NOUN
ajfa-6133	172	18	growth	growth	NOUN
ajfa-6133	172	19	,	,	PUNCT
ajfa-6133	172	20	gdp	gdp	NOUN
ajfa-6133	172	21	per	per	ADP
ajfa-6133	172	22	capita	capita	NOUN
ajfa-6133	172	23	.	.	PUNCT
ajfa-6133	173	1	our	our	PRON
ajfa-6133	173	2	sample	sample	NOUN
ajfa-6133	173	3	period	period	NOUN
ajfa-6133	173	4	is	be	AUX
ajfa-6133	173	5	between	between	ADP
ajfa-6133	173	6	2000	2000	NUM
ajfa-6133	173	7	and	and	CCONJ
ajfa-6133	173	8	2005	2005	NUM
ajfa-6133	173	9	.	.	PUNCT
ajfa-6133	174	1	our	our	PRON
ajfa-6133	174	2	final	final	ADJ
ajfa-6133	174	3	sample	sample	NOUN
ajfa-6133	174	4	includes	include	VERB
ajfa-6133	174	5	807	807	NUM
ajfa-6133	174	6	observations	observation	NOUN
ajfa-6133	174	7	in	in	ADP
ajfa-6133	174	8	fourteen	fourteen	NUM
ajfa-6133	174	9	emerging	emerge	VERB
ajfa-6133	174	10	markets	market	NOUN
ajfa-6133	174	11	.	.	PUNCT
ajfa-6133	175	1	asian	asian	ADJ
ajfa-6133	175	2	journal	journal	PROPN
ajfa-6133	175	3	of	of	ADP
ajfa-6133	175	4	finance	finance	PROPN
ajfa-6133	175	5	&	&	CCONJ
ajfa-6133	175	6	accounting	accounting	PROPN
ajfa-6133	175	7	issn	issn	PROPN
ajfa-6133	175	8	1946	1946	NUM
ajfa-6133	175	9	-	-	PUNCT
ajfa-6133	175	10	052x	052x	PROPN
ajfa-6133	175	11	2014	2014	NUM
ajfa-6133	175	12	,	,	PUNCT
ajfa-6133	175	13	vol	vol	NOUN
ajfa-6133	175	14	.	.	PROPN
ajfa-6133	176	1	6	6	NUM
ajfa-6133	176	2	,	,	PUNCT
ajfa-6133	176	3	no	no	INTJ
ajfa-6133	176	4	.	.	NOUN
ajfa-6133	176	5	2	2	NUM
ajfa-6133	176	6	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-6133	176	7	152	152	NUM
ajfa-6133	176	8	in	in	ADP
ajfa-6133	176	9	table	table	NOUN
ajfa-6133	176	10	5	5	NUM
ajfa-6133	176	11	,	,	PUNCT
ajfa-6133	176	12	we	we	PRON
ajfa-6133	176	13	estimate	estimate	VERB
ajfa-6133	176	14	the	the	DET
ajfa-6133	176	15	following	follow	VERB
ajfa-6133	176	16	equation	equation	NOUN
ajfa-6133	176	17	:	:	PUNCT
ajfa-6133	176	18	company	company	NOUN
ajfa-6133	176	19	-	-	PUNCT
ajfa-6133	176	20	r&d	r&d	NOUN
ajfa-6133	176	21	=	=	NOUN
ajfa-6133	176	22	α	α	PROPN
ajfa-6133	176	23	+	+	CCONJ
ajfa-6133	176	24	β1	β1	NOUN
ajfa-6133	176	25	accounting	accounting	NOUN
ajfa-6133	176	26	-	-	PUNCT
ajfa-6133	176	27	disclosure	disclosure	NOUN
ajfa-6133	176	28	+	+	CCONJ
ajfa-6133	176	29	β2	β2	ADJ
ajfa-6133	176	30	firm	firm	NOUN
ajfa-6133	176	31	-	-	PUNCT
ajfa-6133	176	32	governance	governance	NOUN
ajfa-6133	176	33	+	+	CCONJ
ajfa-6133	176	34	β3	β3	VERB
ajfa-6133	176	35	accounting	accounting	NOUN
ajfa-6133	176	36	-	-	PUNCT
ajfa-6133	176	37	disclosure	disclosure	NOUN
ajfa-6133	176	38	*	*	PUNCT
ajfa-6133	176	39	firm	firm	ADJ
ajfa-6133	176	40	-	-	PUNCT
ajfa-6133	176	41	governance	governance	NOUN
ajfa-6133	176	42	+	+	CCONJ
ajfa-6133	176	43	β4	β4	PROPN
ajfa-6133	176	44	control	control	NOUN
ajfa-6133	176	45	variables	variable	NOUN
ajfa-6133	176	46	+	+	CCONJ
ajfa-6133	176	47	industry	industry	NOUN
ajfa-6133	176	48	effects	effect	NOUN
ajfa-6133	176	49	+	+	CCONJ
ajfa-6133	176	50	year	year	NOUN
ajfa-6133	176	51	effects	effect	NOUN
ajfa-6133	176	52	+	+	CCONJ
ajfa-6133	176	53	ε	ε	PROPN
ajfa-6133	176	54	(	(	PUNCT
ajfa-6133	176	55	5	5	NUM
ajfa-6133	176	56	)	)	PUNCT
ajfa-6133	176	57	as	as	SCONJ
ajfa-6133	176	58	shown	show	VERB
ajfa-6133	176	59	in	in	ADP
ajfa-6133	176	60	table	table	NOUN
ajfa-6133	176	61	5	5	NUM
ajfa-6133	176	62	,	,	PUNCT
ajfa-6133	176	63	the	the	DET
ajfa-6133	176	64	coefficients	coefficient	NOUN
ajfa-6133	176	65	of	of	ADP
ajfa-6133	176	66	the	the	DET
ajfa-6133	176	67	interaction	interaction	NOUN
ajfa-6133	176	68	terms	term	NOUN
ajfa-6133	176	69	between	between	ADP
ajfa-6133	176	70	accounting	accounting	NOUN
ajfa-6133	176	71	disclosure	disclosure	NOUN
ajfa-6133	176	72	and	and	CCONJ
ajfa-6133	176	73	firm	firm	ADJ
ajfa-6133	176	74	-	-	PUNCT
ajfa-6133	176	75	level	level	NOUN
ajfa-6133	176	76	governance	governance	NOUN
ajfa-6133	176	77	are	be	AUX
ajfa-6133	176	78	always	always	ADV
ajfa-6133	176	79	statistically	statistically	ADV
ajfa-6133	176	80	significant	significant	ADJ
ajfa-6133	176	81	at	at	ADP
ajfa-6133	176	82	1	1	NUM
ajfa-6133	176	83	%	%	NOUN
ajfa-6133	176	84	level	level	NOUN
ajfa-6133	176	85	.	.	PUNCT
ajfa-6133	177	1	specifically	specifically	ADV
ajfa-6133	177	2	,	,	PUNCT
ajfa-6133	177	3	the	the	DET
ajfa-6133	177	4	coefficient	coefficient	NOUN
ajfa-6133	177	5	of	of	ADP
ajfa-6133	177	6	the	the	DET
ajfa-6133	177	7	variable	variable	ADJ
ajfa-6133	177	8	accounting	accounting	NOUN
ajfa-6133	177	9	-	-	PUNCT
ajfa-6133	177	10	disclosure	disclosure	NOUN
ajfa-6133	177	11	is	be	AUX
ajfa-6133	177	12	equal	equal	ADJ
ajfa-6133	177	13	to	to	ADP
ajfa-6133	177	14	0.0053	0.0053	NUM
ajfa-6133	177	15	.	.	PUNCT
ajfa-6133	178	1	the	the	DET
ajfa-6133	178	2	coefficient	coefficient	NOUN
ajfa-6133	178	3	of	of	ADP
ajfa-6133	178	4	the	the	DET
ajfa-6133	178	5	variable	variable	ADJ
ajfa-6133	178	6	firm	firm	NOUN
ajfa-6133	178	7	-	-	PUNCT
ajfa-6133	178	8	governance	governance	NOUN
ajfa-6133	178	9	is	be	AUX
ajfa-6133	178	10	equal	equal	ADJ
ajfa-6133	178	11	to	to	ADP
ajfa-6133	178	12	0.0050	0.0050	NUM
ajfa-6133	178	13	.	.	PUNCT
ajfa-6133	179	1	the	the	DET
ajfa-6133	179	2	coefficient	coefficient	NOUN
ajfa-6133	179	3	of	of	ADP
ajfa-6133	179	4	the	the	DET
ajfa-6133	179	5	variable	variable	ADJ
ajfa-6133	179	6	accounting	accounting	NOUN
ajfa-6133	179	7	-	-	PUNCT
ajfa-6133	179	8	disclosure	disclosure	NOUN
ajfa-6133	179	9	*	*	PUNCT
ajfa-6133	179	10	firm	firm	ADJ
ajfa-6133	179	11	-	-	PUNCT
ajfa-6133	179	12	governance	governance	NOUN
ajfa-6133	179	13	is	be	AUX
ajfa-6133	179	14	equal	equal	ADJ
ajfa-6133	179	15	to	to	ADP
ajfa-6133	179	16	-0.0002	-0.0002	NOUN
ajfa-6133	179	17	.	.	PUNCT
ajfa-6133	180	1	this	this	DET
ajfa-6133	180	2	finding	finding	NOUN
ajfa-6133	180	3	indicates	indicate	VERB
ajfa-6133	180	4	that	that	SCONJ
ajfa-6133	180	5	the	the	DET
ajfa-6133	180	6	relation	relation	NOUN
ajfa-6133	180	7	between	between	ADP
ajfa-6133	180	8	accounting	accounting	NOUN
ajfa-6133	180	9	disclosure	disclosure	NOUN
ajfa-6133	180	10	and	and	CCONJ
ajfa-6133	180	11	r&d	r&d	NOUN
ajfa-6133	180	12	is	be	AUX
ajfa-6133	180	13	stronger	strong	ADJ
ajfa-6133	180	14	for	for	ADP
ajfa-6133	180	15	firms	firm	NOUN
ajfa-6133	180	16	with	with	ADP
ajfa-6133	180	17	poor	poor	ADJ
ajfa-6133	180	18	corporate	corporate	ADJ
ajfa-6133	180	19	governance	governance	NOUN
ajfa-6133	180	20	.	.	PUNCT
ajfa-6133	181	1	when	when	SCONJ
ajfa-6133	181	2	we	we	PRON
ajfa-6133	181	3	include	include	VERB
ajfa-6133	181	4	firm	firm	ADJ
ajfa-6133	181	5	characteristics	characteristic	NOUN
ajfa-6133	181	6	,	,	PUNCT
ajfa-6133	181	7	the	the	DET
ajfa-6133	181	8	conclusion	conclusion	NOUN
ajfa-6133	181	9	does	do	AUX
ajfa-6133	181	10	not	not	PART
ajfa-6133	181	11	change	change	VERB
ajfa-6133	181	12	.	.	PUNCT
ajfa-6133	182	1	specifically	specifically	ADV
ajfa-6133	182	2	,	,	PUNCT
ajfa-6133	182	3	the	the	DET
ajfa-6133	182	4	coefficient	coefficient	NOUN
ajfa-6133	182	5	of	of	ADP
ajfa-6133	182	6	the	the	DET
ajfa-6133	182	7	variable	variable	ADJ
ajfa-6133	182	8	accounting	accounting	NOUN
ajfa-6133	182	9	-	-	PUNCT
ajfa-6133	182	10	disclosure	disclosure	NOUN
ajfa-6133	182	11	is	be	AUX
ajfa-6133	182	12	equal	equal	ADJ
ajfa-6133	182	13	to	to	ADP
ajfa-6133	182	14	0.0052	0.0052	NUM
ajfa-6133	182	15	.	.	PUNCT
ajfa-6133	183	1	the	the	DET
ajfa-6133	183	2	coefficient	coefficient	NOUN
ajfa-6133	183	3	of	of	ADP
ajfa-6133	183	4	the	the	DET
ajfa-6133	183	5	variable	variable	ADJ
ajfa-6133	183	6	firm	firm	NOUN
ajfa-6133	183	7	-	-	PUNCT
ajfa-6133	183	8	governance	governance	NOUN
ajfa-6133	183	9	is	be	AUX
ajfa-6133	183	10	equal	equal	ADJ
ajfa-6133	183	11	to	to	ADP
ajfa-6133	183	12	0.0068	0.0068	NUM
ajfa-6133	183	13	.	.	PUNCT
ajfa-6133	184	1	the	the	DET
ajfa-6133	184	2	coefficient	coefficient	NOUN
ajfa-6133	184	3	of	of	ADP
ajfa-6133	184	4	the	the	DET
ajfa-6133	184	5	variable	variable	ADJ
ajfa-6133	184	6	accounting	accounting	NOUN
ajfa-6133	184	7	-	-	PUNCT
ajfa-6133	184	8	disclosure	disclosure	NOUN
ajfa-6133	184	9	*	*	PUNCT
ajfa-6133	184	10	firm	firm	ADJ
ajfa-6133	184	11	-	-	PUNCT
ajfa-6133	184	12	governance	governance	NOUN
ajfa-6133	184	13	is	be	AUX
ajfa-6133	184	14	equal	equal	ADJ
ajfa-6133	184	15	to	to	ADP
ajfa-6133	184	16	-0.0002	-0.0002	NOUN
ajfa-6133	184	17	.	.	PUNCT
ajfa-6133	185	1	the	the	DET
ajfa-6133	185	2	coefficient	coefficient	NOUN
ajfa-6133	185	3	of	of	ADP
ajfa-6133	185	4	the	the	DET
ajfa-6133	185	5	variable	variable	ADJ
ajfa-6133	185	6	log	log	NOUN
ajfa-6133	185	7	-	-	PUNCT
ajfa-6133	185	8	assets	asset	NOUN
ajfa-6133	185	9	is	be	AUX
ajfa-6133	185	10	equal	equal	ADJ
ajfa-6133	185	11	to	to	ADP
ajfa-6133	185	12	0.2112	0.2112	NUM
ajfa-6133	185	13	.	.	PUNCT
ajfa-6133	186	1	4	4	NUM
ajfa-6133	186	2	.	.	X
ajfa-6133	186	3	conclusion	conclusion	NOUN
ajfa-6133	186	4	although	although	SCONJ
ajfa-6133	186	5	the	the	DET
ajfa-6133	186	6	literature	literature	NOUN
ajfa-6133	186	7	has	have	AUX
ajfa-6133	186	8	addressed	address	VERB
ajfa-6133	186	9	the	the	DET
ajfa-6133	186	10	relationship	relationship	NOUN
ajfa-6133	186	11	of	of	ADP
ajfa-6133	186	12	investor	investor	NOUN
ajfa-6133	186	13	protection	protection	NOUN
ajfa-6133	186	14	resulted	result	VERB
ajfa-6133	186	15	from	from	ADP
ajfa-6133	186	16	country	country	NOUN
ajfa-6133	186	17	-	-	PUNCT
ajfa-6133	186	18	level	level	NOUN
ajfa-6133	186	19	and	and	CCONJ
ajfa-6133	186	20	firm	firm	ADJ
ajfa-6133	186	21	-	-	PUNCT
ajfa-6133	186	22	level	level	NOUN
ajfa-6133	186	23	governance	governance	NOUN
ajfa-6133	186	24	standards	standard	NOUN
ajfa-6133	186	25	,	,	PUNCT
ajfa-6133	186	26	market	market	NOUN
ajfa-6133	186	27	disciplines	discipline	NOUN
ajfa-6133	186	28	resulted	result	VERB
ajfa-6133	186	29	from	from	ADP
ajfa-6133	186	30	firm	firm	ADJ
ajfa-6133	186	31	-	-	PUNCT
ajfa-6133	186	32	level	level	NOUN
ajfa-6133	186	33	accounting	accounting	NOUN
ajfa-6133	186	34	disclosure	disclosure	NOUN
ajfa-6133	186	35	and	and	CCONJ
ajfa-6133	186	36	innovations	innovation	NOUN
ajfa-6133	186	37	,	,	PUNCT
ajfa-6133	186	38	relatively	relatively	ADV
ajfa-6133	186	39	limited	limited	ADJ
ajfa-6133	186	40	evidence	evidence	NOUN
ajfa-6133	186	41	of	of	ADP
ajfa-6133	186	42	whether	whether	SCONJ
ajfa-6133	186	43	market	market	NOUN
ajfa-6133	186	44	disciplines	discipline	NOUN
ajfa-6133	186	45	and	and	CCONJ
ajfa-6133	186	46	investor	investor	NOUN
ajfa-6133	186	47	protection	protection	NOUN
ajfa-6133	186	48	are	be	AUX
ajfa-6133	186	49	substitutes	substitute	NOUN
ajfa-6133	186	50	or	or	CCONJ
ajfa-6133	186	51	compliments	compliment	NOUN
ajfa-6133	186	52	in	in	ADP
ajfa-6133	186	53	determining	determine	VERB
ajfa-6133	186	54	firms	firm	NOUN
ajfa-6133	186	55	’	’	PART
ajfa-6133	186	56	innovation	innovation	NOUN
ajfa-6133	186	57	activities	activity	NOUN
ajfa-6133	186	58	.	.	PUNCT
ajfa-6133	187	1	this	this	DET
ajfa-6133	187	2	paper	paper	NOUN
ajfa-6133	187	3	explores	explore	VERB
ajfa-6133	187	4	how	how	SCONJ
ajfa-6133	187	5	the	the	DET
ajfa-6133	187	6	relationship	relationship	NOUN
ajfa-6133	187	7	between	between	ADP
ajfa-6133	187	8	accounting	accounting	NOUN
ajfa-6133	187	9	disclosure	disclosure	NOUN
ajfa-6133	187	10	and	and	CCONJ
ajfa-6133	187	11	innovation	innovation	NOUN
ajfa-6133	187	12	activities	activity	NOUN
ajfa-6133	187	13	differ	differ	VERB
ajfa-6133	187	14	in	in	ADP
ajfa-6133	187	15	different	different	ADJ
ajfa-6133	187	16	legal	legal	ADJ
ajfa-6133	187	17	environments	environment	NOUN
ajfa-6133	187	18	and	and	CCONJ
ajfa-6133	187	19	firm	firm	ADJ
ajfa-6133	187	20	-	-	PUNCT
ajfa-6133	187	21	level	level	NOUN
ajfa-6133	187	22	corporate	corporate	ADJ
ajfa-6133	187	23	governance	governance	NOUN
ajfa-6133	187	24	.	.	PUNCT
ajfa-6133	188	1	to	to	PART
ajfa-6133	188	2	test	test	VERB
ajfa-6133	188	3	our	our	PRON
ajfa-6133	188	4	hypotheses	hypothesis	NOUN
ajfa-6133	188	5	,	,	PUNCT
ajfa-6133	188	6	our	our	PRON
ajfa-6133	188	7	firm	firm	ADJ
ajfa-6133	188	8	-	-	PUNCT
ajfa-6133	188	9	level	level	NOUN
ajfa-6133	188	10	accounting	accounting	NOUN
ajfa-6133	188	11	disclosure	disclosure	NOUN
ajfa-6133	188	12	and	and	CCONJ
ajfa-6133	188	13	corporate	corporate	ADJ
ajfa-6133	188	14	governance	governance	NOUN
ajfa-6133	188	15	data	datum	NOUN
ajfa-6133	188	16	is	be	AUX
ajfa-6133	188	17	obtained	obtain	VERB
ajfa-6133	188	18	from	from	ADP
ajfa-6133	188	19	the	the	DET
ajfa-6133	188	20	survey	survey	NOUN
ajfa-6133	188	21	data	datum	NOUN
ajfa-6133	188	22	by	by	ADP
ajfa-6133	188	23	credit	credit	NOUN
ajfa-6133	188	24	lyonnais	lyonnais	PROPN
ajfa-6133	188	25	securities	securities	PROPN
ajfa-6133	188	26	asia	asia	PROPN
ajfa-6133	188	27	.	.	PUNCT
ajfa-6133	189	1	we	we	PRON
ajfa-6133	189	2	use	use	VERB
ajfa-6133	189	3	the	the	DET
ajfa-6133	189	4	three	three	NUM
ajfa-6133	189	5	country	country	NOUN
ajfa-6133	189	6	-	-	PUNCT
ajfa-6133	189	7	level	level	NOUN
ajfa-6133	189	8	governance	governance	NOUN
ajfa-6133	189	9	measures	measure	NOUN
ajfa-6133	189	10	such	such	ADJ
ajfa-6133	189	11	as	as	ADP
ajfa-6133	189	12	judicial	judicial	ADJ
ajfa-6133	189	13	efficiency	efficiency	NOUN
ajfa-6133	189	14	,	,	PUNCT
ajfa-6133	189	15	legality	legality	NOUN
ajfa-6133	189	16	,	,	PUNCT
ajfa-6133	189	17	and	and	CCONJ
ajfa-6133	189	18	shareholder	shareholder	NOUN
ajfa-6133	189	19	rights	right	NOUN
ajfa-6133	189	20	from	from	ADP
ajfa-6133	189	21	la	la	ADV
ajfa-6133	189	22	porta	porta	NOUN
ajfa-6133	189	23	et	et	PROPN
ajfa-6133	189	24	al	al	PROPN
ajfa-6133	189	25	.	.	PROPN
ajfa-6133	190	1	(	(	PUNCT
ajfa-6133	190	2	1998	1998	NUM
ajfa-6133	190	3	)	)	PUNCT
ajfa-6133	190	4	and	and	CCONJ
ajfa-6133	190	5	the	the	DET
ajfa-6133	190	6	international	international	ADJ
ajfa-6133	190	7	country	country	NOUN
ajfa-6133	190	8	risk	risk	NOUN
ajfa-6133	190	9	guide	guide	NOUN
ajfa-6133	190	10	(	(	PUNCT
ajfa-6133	190	11	2000	2000	NUM
ajfa-6133	190	12	)	)	PUNCT
ajfa-6133	190	13	.	.	PUNCT
ajfa-6133	191	1	we	we	PRON
ajfa-6133	191	2	obtain	obtain	VERB
ajfa-6133	191	3	our	our	PRON
ajfa-6133	191	4	dependent	dependent	ADJ
ajfa-6133	191	5	variable	variable	NOUN
ajfa-6133	191	6	from	from	ADP
ajfa-6133	191	7	worldscope	worldscope	NOUN
ajfa-6133	191	8	,	,	PUNCT
ajfa-6133	191	9	and	and	CCONJ
ajfa-6133	191	10	define	define	VERB
ajfa-6133	191	11	r&d	r&d	NOUN
ajfa-6133	191	12	as	as	ADP
ajfa-6133	191	13	the	the	DET
ajfa-6133	191	14	ratio	ratio	NOUN
ajfa-6133	191	15	of	of	ADP
ajfa-6133	191	16	a	a	DET
ajfa-6133	191	17	firm	firm	NOUN
ajfa-6133	191	18	’s	’s	PART
ajfa-6133	191	19	r&d	r&d	NOUN
ajfa-6133	191	20	expenditures	expenditure	NOUN
ajfa-6133	191	21	to	to	ADP
ajfa-6133	191	22	sales	sale	NOUN
ajfa-6133	191	23	.	.	PUNCT
ajfa-6133	192	1	we	we	PRON
ajfa-6133	192	2	also	also	ADV
ajfa-6133	192	3	control	control	VERB
ajfa-6133	192	4	for	for	ADP
ajfa-6133	192	5	the	the	DET
ajfa-6133	192	6	logarithm	logarithm	NOUN
ajfa-6133	192	7	of	of	ADP
ajfa-6133	192	8	firm	firm	ADJ
ajfa-6133	192	9	assets	asset	NOUN
ajfa-6133	192	10	,	,	PUNCT
ajfa-6133	192	11	total	total	ADJ
ajfa-6133	192	12	liability	liability	NOUN
ajfa-6133	192	13	,	,	PUNCT
ajfa-6133	192	14	accounting	accounting	NOUN
ajfa-6133	192	15	earnings	earning	NOUN
ajfa-6133	192	16	,	,	PUNCT
ajfa-6133	192	17	gdp	gdp	NOUN
ajfa-6133	192	18	growth	growth	NOUN
ajfa-6133	192	19	,	,	PUNCT
ajfa-6133	192	20	gdp	gdp	NOUN
ajfa-6133	192	21	per	per	ADP
ajfa-6133	192	22	capita	capita	NOUN
ajfa-6133	192	23	.	.	PUNCT
ajfa-6133	193	1	our	our	PRON
ajfa-6133	193	2	sample	sample	NOUN
ajfa-6133	193	3	period	period	NOUN
ajfa-6133	193	4	is	be	AUX
ajfa-6133	193	5	between	between	ADP
ajfa-6133	193	6	2000	2000	NUM
ajfa-6133	193	7	and	and	CCONJ
ajfa-6133	193	8	2005	2005	NUM
ajfa-6133	193	9	.	.	PUNCT
ajfa-6133	194	1	our	our	PRON
ajfa-6133	194	2	final	final	ADJ
ajfa-6133	194	3	sample	sample	NOUN
ajfa-6133	194	4	includes	include	VERB
ajfa-6133	194	5	807	807	NUM
ajfa-6133	194	6	observations	observation	NOUN
ajfa-6133	194	7	in	in	ADP
ajfa-6133	194	8	fourteen	fourteen	NUM
ajfa-6133	194	9	emerging	emerge	VERB
ajfa-6133	194	10	markets	market	NOUN
ajfa-6133	194	11	.	.	PUNCT
ajfa-6133	195	1	empirically	empirically	ADV
ajfa-6133	195	2	,	,	PUNCT
ajfa-6133	195	3	we	we	PRON
ajfa-6133	195	4	use	use	VERB
ajfa-6133	195	5	r&d	r&d	NOUN
ajfa-6133	195	6	as	as	ADP
ajfa-6133	195	7	our	our	PRON
ajfa-6133	195	8	innovation	innovation	NOUN
ajfa-6133	195	9	measure	measure	NOUN
ajfa-6133	195	10	.	.	PUNCT
ajfa-6133	196	1	the	the	DET
ajfa-6133	196	2	key	key	ADJ
ajfa-6133	196	3	independent	independent	ADJ
ajfa-6133	196	4	variables	variable	NOUN
ajfa-6133	196	5	are	be	AUX
ajfa-6133	196	6	the	the	DET
ajfa-6133	196	7	interaction	interaction	NOUN
ajfa-6133	196	8	terms	term	NOUN
ajfa-6133	196	9	between	between	ADP
ajfa-6133	196	10	firm	firm	ADJ
ajfa-6133	196	11	-	-	PUNCT
ajfa-6133	196	12	level	level	NOUN
ajfa-6133	196	13	accounting	accounting	NOUN
ajfa-6133	196	14	disclosure	disclosure	NOUN
ajfa-6133	196	15	and	and	CCONJ
ajfa-6133	196	16	governance	governance	NOUN
ajfa-6133	196	17	variables	variable	NOUN
ajfa-6133	196	18	.	.	PUNCT
ajfa-6133	197	1	specifically	specifically	ADV
ajfa-6133	197	2	,	,	PUNCT
ajfa-6133	197	3	we	we	PRON
ajfa-6133	197	4	estimate	estimate	VERB
ajfa-6133	197	5	the	the	DET
ajfa-6133	197	6	following	follow	VERB
ajfa-6133	197	7	equation	equation	NOUN
ajfa-6133	197	8	:	:	PUNCT
ajfa-6133	197	9	company	company	NOUN
ajfa-6133	197	10	-	-	PUNCT
ajfa-6133	197	11	r&d	r&d	NOUN
ajfa-6133	197	12	=	=	NOUN
ajfa-6133	197	13	α	α	PROPN
ajfa-6133	197	14	+	+	CCONJ
ajfa-6133	197	15	β1	β1	NOUN
ajfa-6133	197	16	accounting	accounting	NOUN
ajfa-6133	197	17	-	-	PUNCT
ajfa-6133	197	18	disclosure	disclosure	NOUN
ajfa-6133	197	19	+	+	CCONJ
ajfa-6133	197	20	β2	β2	NOUN
ajfa-6133	197	21	governance	governance	NOUN
ajfa-6133	197	22	variables	variable	NOUN
ajfa-6133	197	23	+	+	CCONJ
ajfa-6133	197	24	β3	β3	VERB
ajfa-6133	197	25	accounting	accounting	NOUN
ajfa-6133	197	26	-	-	PUNCT
ajfa-6133	197	27	disclosure	disclosure	NOUN
ajfa-6133	197	28	*	*	PUNCT
ajfa-6133	197	29	governance	governance	NOUN
ajfa-6133	197	30	variables	variable	NOUN
ajfa-6133	197	31	+	+	CCONJ
ajfa-6133	197	32	β4	β4	PROPN
ajfa-6133	197	33	control	control	NOUN
ajfa-6133	197	34	variables	variable	NOUN
ajfa-6133	197	35	+	+	CCONJ
ajfa-6133	197	36	industry	industry	NOUN
ajfa-6133	197	37	effects	effect	NOUN
ajfa-6133	197	38	+	+	CCONJ
ajfa-6133	197	39	year	year	NOUN
ajfa-6133	197	40	effects	effect	NOUN
ajfa-6133	197	41	+	+	CCONJ
ajfa-6133	197	42	ε	ε	PROPN
ajfa-6133	197	43	(	(	PUNCT
ajfa-6133	197	44	6	6	NUM
ajfa-6133	197	45	)	)	PUNCT
ajfa-6133	197	46	using	use	VERB
ajfa-6133	197	47	the	the	DET
ajfa-6133	197	48	sample	sample	NOUN
ajfa-6133	197	49	across	across	ADP
ajfa-6133	197	50	14	14	NUM
ajfa-6133	197	51	emerging	emerge	VERB
ajfa-6133	197	52	markets	market	NOUN
ajfa-6133	197	53	,	,	PUNCT
ajfa-6133	197	54	the	the	DET
ajfa-6133	197	55	paper	paper	NOUN
ajfa-6133	197	56	reports	report	VERB
ajfa-6133	197	57	that	that	SCONJ
ajfa-6133	197	58	the	the	DET
ajfa-6133	197	59	effects	effect	NOUN
ajfa-6133	197	60	of	of	ADP
ajfa-6133	197	61	firm	firm	ADJ
ajfa-6133	197	62	-	-	PUNCT
ajfa-6133	197	63	level	level	NOUN
ajfa-6133	197	64	accounting	accounting	NOUN
ajfa-6133	197	65	disclosure	disclosure	NOUN
ajfa-6133	197	66	on	on	ADP
ajfa-6133	197	67	innovation	innovation	NOUN
ajfa-6133	197	68	activities	activity	NOUN
ajfa-6133	197	69	are	be	AUX
ajfa-6133	197	70	more	more	ADV
ajfa-6133	197	71	important	important	ADJ
ajfa-6133	197	72	in	in	ADP
ajfa-6133	197	73	a	a	DET
ajfa-6133	197	74	country	country	NOUN
ajfa-6133	197	75	with	with	ADP
ajfa-6133	197	76	weaker	weak	ADJ
ajfa-6133	197	77	asian	asian	ADJ
ajfa-6133	197	78	journal	journal	NOUN
ajfa-6133	197	79	of	of	ADP
ajfa-6133	197	80	finance	finance	PROPN
ajfa-6133	197	81	&	&	CCONJ
ajfa-6133	197	82	accounting	accounting	PROPN
ajfa-6133	197	83	issn	issn	PROPN
ajfa-6133	197	84	1946	1946	NUM
ajfa-6133	197	85	-	-	PUNCT
ajfa-6133	197	86	052x	052x	PROPN
ajfa-6133	197	87	2014	2014	NUM
ajfa-6133	197	88	,	,	PUNCT
ajfa-6133	197	89	vol	vol	NOUN
ajfa-6133	197	90	.	.	PROPN
ajfa-6133	198	1	6	6	NUM
ajfa-6133	198	2	,	,	PUNCT
ajfa-6133	198	3	no	no	INTJ
ajfa-6133	198	4	.	.	NOUN
ajfa-6133	198	5	2	2	NUM
ajfa-6133	198	6	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-6133	198	7	153	153	NUM
ajfa-6133	198	8	governance	governance	NOUN
ajfa-6133	198	9	standards	standard	NOUN
ajfa-6133	198	10	and	and	CCONJ
ajfa-6133	198	11	for	for	ADP
ajfa-6133	198	12	firms	firm	NOUN
ajfa-6133	198	13	with	with	ADP
ajfa-6133	198	14	poor	poor	ADJ
ajfa-6133	198	15	corporate	corporate	ADJ
ajfa-6133	198	16	governance	governance	NOUN
ajfa-6133	198	17	.	.	PUNCT
ajfa-6133	199	1	the	the	DET
ajfa-6133	199	2	results	result	NOUN
ajfa-6133	199	3	suggest	suggest	VERB
ajfa-6133	199	4	that	that	SCONJ
ajfa-6133	199	5	firm	firm	ADJ
ajfa-6133	199	6	-	-	PUNCT
ajfa-6133	199	7	level	level	NOUN
ajfa-6133	199	8	market	market	NOUN
ajfa-6133	199	9	disciplines	discipline	NOUN
ajfa-6133	199	10	can	can	AUX
ajfa-6133	199	11	substitute	substitute	VERB
ajfa-6133	199	12	for	for	ADP
ajfa-6133	199	13	investor	investor	NOUN
ajfa-6133	199	14	protection	protection	NOUN
ajfa-6133	199	15	.	.	PUNCT
ajfa-6133	200	1	there	there	PRON
ajfa-6133	200	2	are	be	VERB
ajfa-6133	200	3	also	also	ADV
ajfa-6133	200	4	policy	policy	NOUN
ajfa-6133	200	5	implications	implication	NOUN
ajfa-6133	200	6	in	in	ADP
ajfa-6133	200	7	this	this	DET
ajfa-6133	200	8	research	research	NOUN
ajfa-6133	200	9	.	.	PUNCT
ajfa-6133	201	1	the	the	DET
ajfa-6133	201	2	existing	exist	VERB
ajfa-6133	201	3	literature	literature	NOUN
ajfa-6133	201	4	shows	show	VERB
ajfa-6133	201	5	that	that	SCONJ
ajfa-6133	201	6	innovation	innovation	NOUN
ajfa-6133	201	7	contributes	contribute	VERB
ajfa-6133	201	8	to	to	ADP
ajfa-6133	201	9	countries	country	NOUN
ajfa-6133	201	10	’	'	PUNCT
ajfa-6133	201	11	economic	economic	ADJ
ajfa-6133	201	12	growth	growth	NOUN
ajfa-6133	201	13	(	(	PUNCT
ajfa-6133	201	14	aghion	aghion	NOUN
ajfa-6133	201	15	and	and	CCONJ
ajfa-6133	201	16	howitt	howitt	ADJ
ajfa-6133	201	17	,	,	PUNCT
ajfa-6133	201	18	2006	2006	NUM
ajfa-6133	201	19	)	)	PUNCT
ajfa-6133	201	20	and	and	CCONJ
ajfa-6133	201	21	firms	firm	NOUN
ajfa-6133	201	22	are	be	AUX
ajfa-6133	201	23	trying	try	VERB
ajfa-6133	201	24	to	to	PART
ajfa-6133	201	25	promote	promote	VERB
ajfa-6133	201	26	innovation	innovation	NOUN
ajfa-6133	201	27	(	(	PUNCT
ajfa-6133	201	28	hoskisson	hoskisson	NOUN
ajfa-6133	201	29	et	et	PROPN
ajfa-6133	201	30	al	al	PROPN
ajfa-6133	201	31	.	.	PROPN
ajfa-6133	201	32	,	,	PUNCT
ajfa-6133	201	33	2002	2002	NUM
ajfa-6133	201	34	)	)	PUNCT
ajfa-6133	201	35	.	.	PUNCT
ajfa-6133	202	1	thus	thus	ADV
ajfa-6133	202	2	,	,	PUNCT
ajfa-6133	202	3	it	it	PRON
ajfa-6133	202	4	is	be	AUX
ajfa-6133	202	5	an	an	DET
ajfa-6133	202	6	important	important	ADJ
ajfa-6133	202	7	issue	issue	NOUN
ajfa-6133	202	8	to	to	PART
ajfa-6133	202	9	increase	increase	VERB
ajfa-6133	202	10	a	a	DET
ajfa-6133	202	11	country	country	NOUN
ajfa-6133	202	12	’s	’s	PART
ajfa-6133	202	13	innovation	innovation	NOUN
ajfa-6133	202	14	activities	activity	NOUN
ajfa-6133	202	15	for	for	ADP
ajfa-6133	202	16	policy	policy	NOUN
ajfa-6133	202	17	makers	maker	NOUN
ajfa-6133	202	18	.	.	PUNCT
ajfa-6133	203	1	to	to	PART
ajfa-6133	203	2	achieve	achieve	VERB
ajfa-6133	203	3	that	that	DET
ajfa-6133	203	4	goal	goal	NOUN
ajfa-6133	203	5	,	,	PUNCT
ajfa-6133	203	6	it	it	PRON
ajfa-6133	203	7	is	be	AUX
ajfa-6133	203	8	better	well	ADJ
ajfa-6133	203	9	for	for	SCONJ
ajfa-6133	203	10	them	they	PRON
ajfa-6133	203	11	increase	increase	VERB
ajfa-6133	203	12	firms	firm	NOUN
ajfa-6133	203	13	’	'	PUNCT
ajfa-6133	203	14	accounting	accounting	NOUN
ajfa-6133	203	15	disclosure	disclosure	NOUN
ajfa-6133	203	16	level	level	NOUN
ajfa-6133	203	17	and	and	CCONJ
ajfa-6133	203	18	the	the	DET
ajfa-6133	203	19	effects	effect	NOUN
ajfa-6133	203	20	are	be	AUX
ajfa-6133	203	21	affected	affect	VERB
ajfa-6133	203	22	by	by	ADP
ajfa-6133	203	23	firms	firm	NOUN
ajfa-6133	203	24	’	'	PUNCT
ajfa-6133	203	25	governance	governance	NOUN
ajfa-6133	203	26	environment	environment	NOUN
ajfa-6133	203	27	.	.	PUNCT
ajfa-6133	204	1	references	reference	NOUN
ajfa-6133	204	2	aghion	aghion	NOUN
ajfa-6133	204	3	,	,	PUNCT
ajfa-6133	204	4	p.	p.	NOUN
ajfa-6133	204	5	,	,	PUNCT
ajfa-6133	204	6	&	&	CCONJ
ajfa-6133	204	7	howitt	howitt	ADJ
ajfa-6133	204	8	,	,	PUNCT
ajfa-6133	204	9	p.	p.	NOUN
ajfa-6133	204	10	(	(	PUNCT
ajfa-6133	204	11	2006	2006	NUM
ajfa-6133	204	12	)	)	PUNCT
ajfa-6133	204	13	.	.	PUNCT
ajfa-6133	205	1	appropriate	appropriate	ADJ
ajfa-6133	205	2	growth	growth	NOUN
ajfa-6133	205	3	policy	policy	NOUN
ajfa-6133	205	4	:	:	PUNCT
ajfa-6133	205	5	a	a	DET
ajfa-6133	205	6	unifying	unifying	ADJ
ajfa-6133	205	7	framework	framework	NOUN
ajfa-6133	205	8	.	.	PUNCT
ajfa-6133	206	1	journal	journal	NOUN
ajfa-6133	206	2	of	of	ADP
ajfa-6133	206	3	the	the	DET
ajfa-6133	206	4	european	european	PROPN
ajfa-6133	206	5	economic	economic	PROPN
ajfa-6133	206	6	association	association	PROPN
ajfa-6133	206	7	,	,	PUNCT
ajfa-6133	206	8	4	4	NUM
ajfa-6133	206	9	,	,	PUNCT
ajfa-6133	206	10	269	269	NUM
ajfa-6133	206	11	-	-	SYM
ajfa-6133	206	12	314	314	NUM
ajfa-6133	206	13	.	.	PUNCT
ajfa-6133	207	1	http://dx.doi.org/10.1162/jeea.2006.4.2-3.269	http://dx.doi.org/10.1162/jeea.2006.4.2-3.269	NOUN
ajfa-6133	207	2	aghion	aghion	NOUN
ajfa-6133	207	3	,	,	PUNCT
ajfa-6133	207	4	p.	p.	PROPN
ajfa-6133	207	5	,	,	PUNCT
ajfa-6133	207	6	john	john	PROPN
ajfa-6133	207	7	,	,	PUNCT
ajfa-6133	207	8	v.	v.	PROPN
ajfa-6133	207	9	p.	p.	PROPN
ajfa-6133	207	10	,	,	PUNCT
ajfa-6133	207	11	&	&	CCONJ
ajfa-6133	207	12	zingales	zingales	PROPN
ajfa-6133	207	13	,	,	PUNCT
ajfa-6133	207	14	l.	l.	PROPN
ajfa-6133	207	15	(	(	PUNCT
ajfa-6133	207	16	2013	2013	NUM
ajfa-6133	207	17	)	)	PUNCT
ajfa-6133	207	18	.	.	PUNCT
ajfa-6133	208	1	innovation	innovation	NOUN
ajfa-6133	208	2	and	and	CCONJ
ajfa-6133	208	3	institutional	institutional	ADJ
ajfa-6133	208	4	ownership	ownership	NOUN
ajfa-6133	208	5	.	.	PUNCT
ajfa-6133	209	1	american	american	PROPN
ajfa-6133	209	2	economic	economic	PROPN
ajfa-6133	209	3	review	review	PROPN
ajfa-6133	209	4	,	,	PUNCT
ajfa-6133	209	5	103(1	103(1	NUM
ajfa-6133	209	6	)	)	PUNCT
ajfa-6133	209	7	,	,	PUNCT
ajfa-6133	209	8	277	277	NUM
ajfa-6133	209	9	-	-	SYM
ajfa-6133	209	10	304	304	NUM
ajfa-6133	209	11	.	.	PUNCT
ajfa-6133	210	1	http://dx.doi.org/10.1257/aer.103.1.277	http://dx.doi.org/10.1257/aer.103.1.277	PROPN
ajfa-6133	210	2	berkowitz	berkowitz	PROPN
ajfa-6133	210	3	,	,	PUNCT
ajfa-6133	210	4	d.	d.	PROPN
ajfa-6133	210	5	,	,	PUNCT
ajfa-6133	210	6	pistor	pistor	PROPN
ajfa-6133	210	7	,	,	PUNCT
ajfa-6133	210	8	k.	k.	PROPN
ajfa-6133	210	9	,	,	PUNCT
ajfa-6133	210	10	&	&	CCONJ
ajfa-6133	210	11	richard	richard	PROPN
ajfa-6133	210	12	,	,	PUNCT
ajfa-6133	210	13	j.	j.	PROPN
ajfa-6133	210	14	(	(	PUNCT
ajfa-6133	210	15	2003	2003	NUM
ajfa-6133	210	16	)	)	PUNCT
ajfa-6133	210	17	.	.	PUNCT
ajfa-6133	211	1	economic	economic	ADJ
ajfa-6133	211	2	development	development	NOUN
ajfa-6133	211	3	,	,	PUNCT
ajfa-6133	211	4	legality	legality	NOUN
ajfa-6133	211	5	,	,	PUNCT
ajfa-6133	211	6	and	and	CCONJ
ajfa-6133	211	7	the	the	DET
ajfa-6133	211	8	transplant	transplant	NOUN
ajfa-6133	211	9	effect	effect	NOUN
ajfa-6133	211	10	.	.	PUNCT
ajfa-6133	212	1	european	european	ADJ
ajfa-6133	212	2	economic	economic	ADJ
ajfa-6133	212	3	review	review	NOUN
ajfa-6133	212	4	47(1	47(1	NUM
ajfa-6133	212	5	)	)	PUNCT
ajfa-6133	212	6	,	,	PUNCT
ajfa-6133	212	7	165	165	NUM
ajfa-6133	212	8	-	-	SYM
ajfa-6133	212	9	195	195	NUM
ajfa-6133	212	10	.	.	PUNCT
ajfa-6133	213	1	http://dx.doi.org/10.1016/s0014-2921(01)00196-9	http://dx.doi.org/10.1016/s0014-2921(01)00196-9	PROPN
ajfa-6133	213	2	chen	chen	PROPN
ajfa-6133	213	3	,	,	PUNCT
ajfa-6133	213	4	v.	v.	PROPN
ajfa-6133	213	5	z.	z.	PROPN
ajfa-6133	213	6	,	,	PUNCT
ajfa-6133	213	7	li	li	PROPN
ajfa-6133	213	8	,	,	PUNCT
ajfa-6133	213	9	j.	j.	PROPN
ajfa-6133	213	10	,	,	PUNCT
ajfa-6133	213	11	&	&	CCONJ
ajfa-6133	213	12	shapiro	shapiro	PROPN
ajfa-6133	213	13	,	,	PUNCT
ajfa-6133	213	14	d.	d.	PROPN
ajfa-6133	213	15	m.	m.	PROPN
ajfa-6133	213	16	(	(	PUNCT
ajfa-6133	213	17	2011	2011	NUM
ajfa-6133	213	18	)	)	PUNCT
ajfa-6133	213	19	.	.	PUNCT
ajfa-6133	213	20	are	be	AUX
ajfa-6133	213	21	oecd	oecd	PROPN
ajfa-6133	213	22	-	-	PUNCT
ajfa-6133	213	23	prescribed	prescribed	ADJ
ajfa-6133	213	24	“	"	PUNCT
ajfa-6133	213	25	good	good	ADJ
ajfa-6133	213	26	corporate	corporate	ADJ
ajfa-6133	213	27	governance	governance	NOUN
ajfa-6133	213	28	practices	practice	NOUN
ajfa-6133	213	29	”	"	PUNCT
ajfa-6133	213	30	really	really	ADV
ajfa-6133	213	31	good	good	ADJ
ajfa-6133	213	32	in	in	ADP
ajfa-6133	213	33	an	an	DET
ajfa-6133	213	34	emerging	emerge	VERB
ajfa-6133	213	35	economy	economy	NOUN
ajfa-6133	213	36	?	?	PUNCT
ajfa-6133	214	1	asia	asia	PROPN
ajfa-6133	214	2	pacific	pacific	PROPN
ajfa-6133	214	3	journal	journal	PROPN
ajfa-6133	214	4	of	of	ADP
ajfa-6133	214	5	management	management	NOUN
ajfa-6133	214	6	,	,	PUNCT
ajfa-6133	214	7	28(1	28(1	NOUN
ajfa-6133	214	8	)	)	PUNCT
ajfa-6133	214	9	,	,	PUNCT
ajfa-6133	214	10	115	115	NUM
ajfa-6133	214	11	-	-	SYM
ajfa-6133	214	12	138	138	NUM
ajfa-6133	214	13	.	.	PUNCT
ajfa-6133	214	14	http://dx.doi.org/10.1007/s10490-010-9206-8	http://dx.doi.org/10.1007/s10490-010-9206-8	PROPN
ajfa-6133	215	1	francis	francis	PROPN
ajfa-6133	215	2	,	,	PUNCT
ajfa-6133	215	3	b.	b.	PROPN
ajfa-6133	215	4	b.	b.	PROPN
ajfa-6133	215	5	,	,	PUNCT
ajfa-6133	215	6	hasan	hasan	PROPN
ajfa-6133	215	7	,	,	PUNCT
ajfa-6133	215	8	i.	i.	PROPN
ajfa-6133	215	9	,	,	PUNCT
ajfa-6133	215	10	huang	huang	PROPN
ajfa-6133	215	11	,	,	PUNCT
ajfa-6133	215	12	y.	y.	PROPN
ajfa-6133	215	13	,	,	PUNCT
ajfa-6133	215	14	&	&	CCONJ
ajfa-6133	215	15	sharma	sharma	PROPN
ajfa-6133	215	16	,	,	PUNCT
ajfa-6133	215	17	z.	z.	PROPN
ajfa-6133	215	18	(	(	PUNCT
ajfa-6133	215	19	2012a	2012a	NUM
ajfa-6133	215	20	)	)	PUNCT
ajfa-6133	215	21	.	.	PUNCT
ajfa-6133	216	1	do	do	AUX
ajfa-6133	216	2	banks	bank	NOUN
ajfa-6133	216	3	value	value	VERB
ajfa-6133	216	4	innovation	innovation	NOUN
ajfa-6133	216	5	?	?	PUNCT
ajfa-6133	217	1	evidence	evidence	NOUN
ajfa-6133	217	2	from	from	ADP
ajfa-6133	217	3	us	us	PROPN
ajfa-6133	217	4	firms	firm	NOUN
ajfa-6133	217	5	.	.	PUNCT
ajfa-6133	218	1	financial	financial	ADJ
ajfa-6133	218	2	management	management	NOUN
ajfa-6133	218	3	,	,	PUNCT
ajfa-6133	218	4	spring	spring	NOUN
ajfa-6133	218	5	,	,	PUNCT
ajfa-6133	218	6	159	159	NUM
ajfa-6133	218	7	-	-	SYM
ajfa-6133	218	8	185	185	NUM
ajfa-6133	218	9	.	.	PUNCT
ajfa-6133	219	1	http://dx.doi.org/10.1111/j.1755-053x.2012.01181.x	http://dx.doi.org/10.1111/j.1755-053x.2012.01181.x	VERB
ajfa-6133	219	2	francis	francis	PROPN
ajfa-6133	219	3	,	,	PUNCT
ajfa-6133	219	4	b.	b.	PROPN
ajfa-6133	219	5	,	,	PUNCT
ajfa-6133	219	6	hasan	hasan	PROPN
ajfa-6133	219	7	,	,	PUNCT
ajfa-6133	219	8	i.	i.	PROPN
ajfa-6133	219	9	&	&	CCONJ
ajfa-6133	219	10	song	song	PROPN
ajfa-6133	219	11	,	,	PUNCT
ajfa-6133	219	12	l.	l.	PROPN
ajfa-6133	219	13	(	(	PUNCT
ajfa-6133	219	14	2012b	2012b	NUM
ajfa-6133	219	15	)	)	PUNCT
ajfa-6133	219	16	.	.	PUNCT
ajfa-6133	220	1	are	be	AUX
ajfa-6133	220	2	firmand	firmand	PROPN
ajfa-6133	220	3	country	country	NOUN
ajfa-6133	220	4	-	-	PUNCT
ajfa-6133	220	5	specific	specific	ADJ
ajfa-6133	220	6	governance	governance	NOUN
ajfa-6133	220	7	substitutes	substitute	NOUN
ajfa-6133	220	8	?	?	PUNCT
ajfa-6133	221	1	evidence	evidence	NOUN
ajfa-6133	221	2	from	from	ADP
ajfa-6133	221	3	financial	financial	ADJ
ajfa-6133	221	4	contracts	contract	NOUN
ajfa-6133	221	5	in	in	ADP
ajfa-6133	221	6	emerging	emerge	VERB
ajfa-6133	221	7	markets	market	NOUN
ajfa-6133	221	8	.	.	PUNCT
ajfa-6133	222	1	journal	journal	NOUN
ajfa-6133	222	2	of	of	ADP
ajfa-6133	222	3	financial	financial	ADJ
ajfa-6133	222	4	research	research	NOUN
ajfa-6133	222	5	,	,	PUNCT
ajfa-6133	222	6	35(3	35(3	NUM
ajfa-6133	222	7	)	)	PUNCT
ajfa-6133	222	8	,	,	PUNCT
ajfa-6133	222	9	343	343	NUM
ajfa-6133	222	10	-	-	SYM
ajfa-6133	222	11	374	374	NUM
ajfa-6133	222	12	.	.	PUNCT
ajfa-6133	223	1	http://dx.doi.org/10.1111/j.1475-6803.2012.01320.x	http://dx.doi.org/10.1111/j.1475-6803.2012.01320.x	PROPN
ajfa-6133	223	2	gibson	gibson	PROPN
ajfa-6133	223	3	,	,	PUNCT
ajfa-6133	223	4	m.	m.	NOUN
ajfa-6133	223	5	(	(	PUNCT
ajfa-6133	223	6	2003	2003	NUM
ajfa-6133	223	7	)	)	PUNCT
ajfa-6133	223	8	.	.	PUNCT
ajfa-6133	223	9	is	be	AUX
ajfa-6133	223	10	corporate	corporate	ADJ
ajfa-6133	223	11	governance	governance	NOUN
ajfa-6133	223	12	ineffective	ineffective	ADJ
ajfa-6133	223	13	in	in	ADP
ajfa-6133	223	14	emerging	emerge	VERB
ajfa-6133	223	15	markets	market	NOUN
ajfa-6133	223	16	?	?	PUNCT
ajfa-6133	224	1	journal	journal	NOUN
ajfa-6133	224	2	of	of	ADP
ajfa-6133	224	3	financial	financial	ADJ
ajfa-6133	224	4	and	and	CCONJ
ajfa-6133	224	5	quantitative	quantitative	ADJ
ajfa-6133	224	6	analysis	analysis	NOUN
ajfa-6133	224	7	,	,	PUNCT
ajfa-6133	224	8	38(1	38(1	NUM
ajfa-6133	224	9	)	)	PUNCT
ajfa-6133	224	10	,	,	PUNCT
ajfa-6133	224	11	231	231	NUM
ajfa-6133	224	12	-	-	SYM
ajfa-6133	224	13	250	250	NUM
ajfa-6133	224	14	.	.	PUNCT
ajfa-6133	225	1	http://dx.doi.org/10.2307/4126771	http://dx.doi.org/10.2307/4126771	PROPN
ajfa-6133	225	2	hasan	hasan	PROPN
ajfa-6133	225	3	,	,	PUNCT
ajfa-6133	225	4	i.	i.	PROPN
ajfa-6133	225	5	,	,	PUNCT
ajfa-6133	225	6	&	&	CCONJ
ajfa-6133	225	7	song	song	PROPN
ajfa-6133	225	8	,	,	PUNCT
ajfa-6133	225	9	l.	l.	PROPN
ajfa-6133	225	10	(	(	PUNCT
ajfa-6133	225	11	2014	2014	NUM
ajfa-6133	225	12	)	)	PUNCT
ajfa-6133	225	13	.	.	PUNCT
ajfa-6133	226	1	disclosure	disclosure	NOUN
ajfa-6133	226	2	and	and	CCONJ
ajfa-6133	226	3	bank	bank	NOUN
ajfa-6133	226	4	loan	loan	NOUN
ajfa-6133	226	5	contracting	contracting	NOUN
ajfa-6133	226	6	:	:	PUNCT
ajfa-6133	226	7	evidence	evidence	NOUN
ajfa-6133	226	8	from	from	ADP
ajfa-6133	226	9	emerging	emerge	VERB
ajfa-6133	226	10	markets	market	NOUN
ajfa-6133	226	11	.	.	PUNCT
ajfa-6133	227	1	asian	asian	ADJ
ajfa-6133	227	2	review	review	NOUN
ajfa-6133	227	3	of	of	ADP
ajfa-6133	227	4	accounting	accounting	NOUN
ajfa-6133	227	5	,	,	PUNCT
ajfa-6133	227	6	22(1	22(1	NUM
ajfa-6133	227	7	)	)	PUNCT
ajfa-6133	227	8	,	,	PUNCT
ajfa-6133	227	9	2	2	NUM
ajfa-6133	227	10	-	-	SYM
ajfa-6133	227	11	19	19	NUM
ajfa-6133	227	12	http://dx.doi.org/10.1108/ara-10-2013-0069	http://dx.doi.org/10.1108/ara-10-2013-0069	NOUN
ajfa-6133	227	13	hasan	hasan	PROPN
ajfa-6133	227	14	,	,	PUNCT
ajfa-6133	227	15	i.	i.	PROPN
ajfa-6133	227	16	,	,	PUNCT
ajfa-6133	227	17	song	song	NOUN
ajfa-6133	227	18	,	,	PUNCT
ajfa-6133	227	19	l.	l.	PROPN
ajfa-6133	227	20	,	,	PUNCT
ajfa-6133	227	21	&	&	CCONJ
ajfa-6133	227	22	raymar	raymar	PROPN
ajfa-6133	227	23	,	,	PUNCT
ajfa-6133	227	24	s.	s.	PROPN
ajfa-6133	227	25	(	(	PUNCT
ajfa-6133	227	26	2014a	2014a	NUM
ajfa-6133	227	27	)	)	PUNCT
ajfa-6133	227	28	.	.	PUNCT
ajfa-6133	228	1	effects	effect	NOUN
ajfa-6133	228	2	of	of	ADP
ajfa-6133	228	3	corporate	corporate	ADJ
ajfa-6133	228	4	and	and	CCONJ
ajfa-6133	228	5	country	country	NOUN
ajfa-6133	228	6	governance	governance	NOUN
ajfa-6133	228	7	on	on	ADP
ajfa-6133	228	8	r&d	r&d	NOUN
ajfa-6133	228	9	investment	investment	NOUN
ajfa-6133	228	10	:	:	PUNCT
ajfa-6133	228	11	evidence	evidence	NOUN
ajfa-6133	228	12	from	from	ADP
ajfa-6133	228	13	emerging	emerge	VERB
ajfa-6133	228	14	markets	market	NOUN
ajfa-6133	228	15	.	.	PUNCT
ajfa-6133	229	1	singapore	singapore	PROPN
ajfa-6133	229	2	economic	economic	PROPN
ajfa-6133	229	3	review	review	PROPN
ajfa-6133	229	4	,	,	PUNCT
ajfa-6133	229	5	forthcoming	forthcoming	ADJ
ajfa-6133	229	6	.	.	PUNCT
ajfa-6133	230	1	hasan	hasan	PROPN
ajfa-6133	230	2	,	,	PUNCT
ajfa-6133	230	3	i.	i.	PROPN
ajfa-6133	230	4	,	,	PUNCT
ajfa-6133	230	5	song	song	NOUN
ajfa-6133	230	6	,	,	PUNCT
ajfa-6133	230	7	l.	l.	PROPN
ajfa-6133	230	8	,	,	PUNCT
ajfa-6133	230	9	zhan	zhan	PROPN
ajfa-6133	230	10	,	,	PUNCT
ajfa-6133	230	11	m.	m.	NOUN
ajfa-6133	230	12	s.	s.	PROPN
ajfa-6133	230	13	,	,	PUNCT
ajfa-6133	230	14	zhang	zhang	PROPN
ajfa-6133	230	15	p.	p.	PROPN
ajfa-6133	230	16	,	,	PUNCT
ajfa-6133	230	17	&	&	CCONJ
ajfa-6133	230	18	zhang	zhang	PROPN
ajfa-6133	230	19	z.	z.	PROPN
ajfa-6133	230	20	g.	g.	PROPN
ajfa-6133	230	21	(	(	PUNCT
ajfa-6133	230	22	2014b	2014b	NUM
ajfa-6133	230	23	)	)	PUNCT
ajfa-6133	230	24	.	.	PUNCT
ajfa-6133	231	1	corporate	corporate	ADJ
ajfa-6133	231	2	disclosure	disclosure	NOUN
ajfa-6133	231	3	and	and	CCONJ
ajfa-6133	231	4	financing	financing	NOUN
ajfa-6133	231	5	arrangements	arrangement	NOUN
ajfa-6133	231	6	:	:	PUNCT
ajfa-6133	231	7	evidence	evidence	NOUN
ajfa-6133	231	8	from	from	ADP
ajfa-6133	231	9	syndicated	syndicate	VERB
ajfa-6133	231	10	loans	loan	NOUN
ajfa-6133	231	11	in	in	ADP
ajfa-6133	231	12	emerging	emerge	VERB
ajfa-6133	231	13	markets	market	NOUN
ajfa-6133	231	14	,	,	PUNCT
ajfa-6133	231	15	asian	asian	ADJ
ajfa-6133	231	16	review	review	NOUN
ajfa-6133	231	17	of	of	ADP
ajfa-6133	231	18	accounting	account	VERB
ajfa-6133	231	19	forthcoming	forthcoming	ADJ
ajfa-6133	231	20	.	.	PUNCT
ajfa-6133	232	1	holmstrom	holmstrom	PROPN
ajfa-6133	232	2	,	,	PUNCT
ajfa-6133	232	3	b.	b.	PROPN
ajfa-6133	232	4	(	(	PUNCT
ajfa-6133	232	5	1989	1989	NUM
ajfa-6133	232	6	)	)	PUNCT
ajfa-6133	232	7	.	.	PUNCT
ajfa-6133	233	1	agency	agency	NOUN
ajfa-6133	233	2	costs	cost	NOUN
ajfa-6133	233	3	and	and	CCONJ
ajfa-6133	233	4	innovation	innovation	NOUN
ajfa-6133	233	5	.	.	PUNCT
ajfa-6133	234	1	the	the	DET
ajfa-6133	234	2	journal	journal	NOUN
ajfa-6133	234	3	of	of	ADP
ajfa-6133	234	4	economic	economic	ADJ
ajfa-6133	234	5	behavior	behavior	NOUN
ajfa-6133	234	6	and	and	CCONJ
ajfa-6133	234	7	asian	asian	ADJ
ajfa-6133	234	8	journal	journal	NOUN
ajfa-6133	234	9	of	of	ADP
ajfa-6133	234	10	finance	finance	PROPN
ajfa-6133	234	11	&	&	CCONJ
ajfa-6133	234	12	accounting	accounting	PROPN
ajfa-6133	234	13	issn	issn	PROPN
ajfa-6133	234	14	1946	1946	NUM
ajfa-6133	234	15	-	-	PUNCT
ajfa-6133	234	16	052x	052x	PROPN
ajfa-6133	234	17	2014	2014	NUM
ajfa-6133	234	18	,	,	PUNCT
ajfa-6133	234	19	vol	vol	NOUN
ajfa-6133	234	20	.	.	PROPN
ajfa-6133	234	21	6	6	NUM
ajfa-6133	234	22	,	,	PUNCT
ajfa-6133	234	23	no	no	INTJ
ajfa-6133	234	24	.	.	NOUN
ajfa-6133	234	25	2	2	NUM
ajfa-6133	234	26	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-6133	234	27	154	154	NUM
ajfa-6133	234	28	organization	organization	NOUN
ajfa-6133	234	29	,	,	PUNCT
ajfa-6133	234	30	12	12	NUM
ajfa-6133	234	31	,	,	PUNCT
ajfa-6133	234	32	305	305	NUM
ajfa-6133	234	33	-	-	SYM
ajfa-6133	234	34	327	327	NUM
ajfa-6133	234	35	.	.	PUNCT
ajfa-6133	235	1	http://dx.doi.org/10.2307/3069305	http://dx.doi.org/10.2307/3069305	PROPN
ajfa-6133	235	2	hoskisson	hoskisson	PROPN
ajfa-6133	235	3	,	,	PUNCT
ajfa-6133	235	4	r.	r.	PROPN
ajfa-6133	235	5	e.	e.	PROPN
ajfa-6133	235	6	,	,	PUNCT
ajfa-6133	235	7	hitt	hitt	PROPN
ajfa-6133	235	8	,	,	PUNCT
ajfa-6133	235	9	m.	m.	NOUN
ajfa-6133	235	10	a.	a.	PROPN
ajfa-6133	235	11	,	,	PUNCT
ajfa-6133	235	12	johnson	johnson	PROPN
ajfa-6133	235	13	,	,	PUNCT
ajfa-6133	235	14	r.	r.	PROPN
ajfa-6133	235	15	a.	a.	PROPN
ajfa-6133	235	16	,	,	PUNCT
ajfa-6133	235	17	&	&	CCONJ
ajfa-6133	235	18	grossman	grossman	PROPN
ajfa-6133	235	19	,	,	PUNCT
ajfa-6133	235	20	w.	w.	PROPN
ajfa-6133	235	21	(	(	PUNCT
ajfa-6133	235	22	2002	2002	NUM
ajfa-6133	235	23	)	)	PUNCT
ajfa-6133	235	24	.	.	PUNCT
ajfa-6133	236	1	conflicting	conflict	VERB
ajfa-6133	236	2	voices	voice	NOUN
ajfa-6133	236	3	:	:	PUNCT
ajfa-6133	236	4	the	the	DET
ajfa-6133	236	5	effects	effect	NOUN
ajfa-6133	236	6	of	of	ADP
ajfa-6133	236	7	institutional	institutional	ADJ
ajfa-6133	236	8	ownership	ownership	NOUN
ajfa-6133	236	9	heterogeneity	heterogeneity	NOUN
ajfa-6133	236	10	and	and	CCONJ
ajfa-6133	236	11	internal	internal	ADJ
ajfa-6133	236	12	governance	governance	NOUN
ajfa-6133	236	13	on	on	ADP
ajfa-6133	236	14	corporate	corporate	ADJ
ajfa-6133	236	15	innovation	innovation	NOUN
ajfa-6133	236	16	strategies	strategy	NOUN
ajfa-6133	236	17	.	.	PUNCT
ajfa-6133	237	1	academy	academy	PROPN
ajfa-6133	237	2	of	of	ADP
ajfa-6133	237	3	management	management	PROPN
ajfa-6133	237	4	journal	journal	NOUN
ajfa-6133	237	5	,	,	PUNCT
ajfa-6133	237	6	45	45	NUM
ajfa-6133	237	7	,	,	PUNCT
ajfa-6133	237	8	697	697	NUM
ajfa-6133	237	9	-	-	SYM
ajfa-6133	237	10	716	716	NUM
ajfa-6133	237	11	.	.	PUNCT
ajfa-6133	238	1	http://dx.doi.org/10.2307/3069305	http://dx.doi.org/10.2307/3069305	PROPN
ajfa-6133	238	2	international	international	ADJ
ajfa-6133	238	3	country	country	NOUN
ajfa-6133	238	4	risk	risk	NOUN
ajfa-6133	238	5	guide	guide	NOUN
ajfa-6133	238	6	–	–	PUNCT
ajfa-6133	238	7	2000	2000	NUM
ajfa-6133	238	8	.	.	PUNCT
ajfa-6133	239	1	prs	prs	NOUN
ajfa-6133	239	2	group	group	PROPN
ajfa-6133	239	3	,	,	PUNCT
ajfa-6133	239	4	inc	inc	PROPN
ajfa-6133	239	5	.	.	PROPN
ajfa-6133	239	6	jensen	jensen	PROPN
ajfa-6133	239	7	,	,	PUNCT
ajfa-6133	239	8	m.	m.	PROPN
ajfa-6133	239	9	c.	c.	PROPN
ajfa-6133	239	10	&	&	CCONJ
ajfa-6133	239	11	meckling	meckling	PROPN
ajfa-6133	239	12	,	,	PUNCT
ajfa-6133	239	13	w.	w.	PROPN
ajfa-6133	239	14	h.	h.	PROPN
ajfa-6133	239	15	(	(	PUNCT
ajfa-6133	239	16	1976	1976	NUM
ajfa-6133	239	17	)	)	PUNCT
ajfa-6133	239	18	.	.	PUNCT
ajfa-6133	240	1	theory	theory	NOUN
ajfa-6133	240	2	of	of	ADP
ajfa-6133	240	3	the	the	DET
ajfa-6133	240	4	firm	firm	NOUN
ajfa-6133	240	5	:	:	PUNCT
ajfa-6133	240	6	managerial	managerial	ADJ
ajfa-6133	240	7	behavior	behavior	NOUN
ajfa-6133	240	8	,	,	PUNCT
ajfa-6133	240	9	agency	agency	NOUN
ajfa-6133	240	10	costs	cost	NOUN
ajfa-6133	240	11	and	and	CCONJ
ajfa-6133	240	12	ownership	ownership	NOUN
ajfa-6133	240	13	structure	structure	NOUN
ajfa-6133	240	14	.	.	PUNCT
ajfa-6133	241	1	journal	journal	NOUN
ajfa-6133	241	2	of	of	ADP
ajfa-6133	241	3	financial	financial	ADJ
ajfa-6133	241	4	economics	economic	NOUN
ajfa-6133	241	5	,	,	PUNCT
ajfa-6133	241	6	3(4	3(4	NUM
ajfa-6133	241	7	)	)	PUNCT
ajfa-6133	241	8	,	,	PUNCT
ajfa-6133	241	9	306	306	NUM
ajfa-6133	241	10	-	-	SYM
ajfa-6133	241	11	360	360	NUM
ajfa-6133	241	12	.	.	PUNCT
ajfa-6133	242	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-6133	242	2	klapper	klapper	PROPN
ajfa-6133	242	3	,	,	PUNCT
ajfa-6133	242	4	l.	l.	PROPN
ajfa-6133	242	5	f.	f.	PROPN
ajfa-6133	242	6	&	&	CCONJ
ajfa-6133	242	7	love	love	PROPN
ajfa-6133	242	8	,	,	PUNCT
ajfa-6133	242	9	i.	i.	PROPN
ajfa-6133	242	10	(	(	PUNCT
ajfa-6133	242	11	2004	2004	NUM
ajfa-6133	242	12	)	)	PUNCT
ajfa-6133	242	13	.	.	PUNCT
ajfa-6133	243	1	corporate	corporate	ADJ
ajfa-6133	243	2	governance	governance	NOUN
ajfa-6133	243	3	,	,	PUNCT
ajfa-6133	243	4	investor	investor	NOUN
ajfa-6133	243	5	protection	protection	NOUN
ajfa-6133	243	6	,	,	PUNCT
ajfa-6133	243	7	and	and	CCONJ
ajfa-6133	243	8	performance	performance	NOUN
ajfa-6133	243	9	in	in	ADP
ajfa-6133	243	10	emerging	emerge	VERB
ajfa-6133	243	11	markets	market	NOUN
ajfa-6133	243	12	.	.	PUNCT
ajfa-6133	244	1	journal	journal	NOUN
ajfa-6133	244	2	of	of	ADP
ajfa-6133	244	3	corporate	corporate	ADJ
ajfa-6133	244	4	finance	finance	NOUN
ajfa-6133	244	5	,	,	PUNCT
ajfa-6133	244	6	10(5	10(5	NUM
ajfa-6133	244	7	)	)	PUNCT
ajfa-6133	244	8	,	,	PUNCT
ajfa-6133	244	9	703–728	703–728	NUM
ajfa-6133	244	10	.	.	PUNCT
ajfa-6133	245	1	http://dx.doi.org/10.1016/s0929-1199	http://dx.doi.org/10.1016/s0929-1199	PROPN
ajfa-6133	245	2	(	(	PUNCT
ajfa-6133	245	3	03)00046	03)00046	NOUN
ajfa-6133	245	4	-	-	PUNCT
ajfa-6133	245	5	4	4	NUM
ajfa-6133	245	6	la	la	PROPN
ajfa-6133	245	7	porta	porta	PROPN
ajfa-6133	245	8	,	,	PUNCT
ajfa-6133	245	9	r.	r.	PROPN
ajfa-6133	245	10	,	,	PUNCT
ajfa-6133	245	11	lopez	lopez	NOUN
ajfa-6133	245	12	-	-	PUNCT
ajfa-6133	245	13	de	de	NOUN
ajfa-6133	245	14	-	-	NOUN
ajfa-6133	245	15	silanes	silanes	PROPN
ajfa-6133	245	16	,	,	PUNCT
ajfa-6133	245	17	f.	f.	PROPN
ajfa-6133	245	18	,	,	PUNCT
ajfa-6133	245	19	shleifer	shleifer	PROPN
ajfa-6133	245	20	,	,	PUNCT
ajfa-6133	245	21	a.	a.	PROPN
ajfa-6133	245	22	,	,	PUNCT
ajfa-6133	245	23	&	&	CCONJ
ajfa-6133	245	24	vishny	vishny	PROPN
ajfa-6133	245	25	,	,	PUNCT
ajfa-6133	245	26	r.	r.	PROPN
ajfa-6133	245	27	w.	w.	PROPN
ajfa-6133	245	28	(	(	PUNCT
ajfa-6133	245	29	1998	1998	NUM
ajfa-6133	245	30	)	)	PUNCT
ajfa-6133	245	31	.	.	PUNCT
ajfa-6133	246	1	law	law	NOUN
ajfa-6133	246	2	and	and	CCONJ
ajfa-6133	246	3	finance	finance	NOUN
ajfa-6133	246	4	.	.	PUNCT
ajfa-6133	247	1	journal	journal	NOUN
ajfa-6133	247	2	of	of	ADP
ajfa-6133	247	3	political	political	ADJ
ajfa-6133	247	4	economy	economy	NOUN
ajfa-6133	247	5	,	,	PUNCT
ajfa-6133	247	6	106(6	106(6	NUM
ajfa-6133	247	7	)	)	PUNCT
ajfa-6133	247	8	,	,	PUNCT
ajfa-6133	247	9	1113	1113	NUM
ajfa-6133	247	10	-	-	SYM
ajfa-6133	247	11	1155	1155	NUM
ajfa-6133	247	12	.	.	PUNCT
ajfa-6133	248	1	http://dx.doi.org/10.1086/250042	http://dx.doi.org/10.1086/250042	NOUN
ajfa-6133	248	2	o’connor	o’connor	ADV
ajfa-6133	248	3	,	,	PUNCT
ajfa-6133	248	4	m.	m.	NOUN
ajfa-6133	248	5	and	and	CCONJ
ajfa-6133	248	6	rafferty	rafferty	PROPN
ajfa-6133	248	7	,	,	PUNCT
ajfa-6133	248	8	m.	m.	NOUN
ajfa-6133	248	9	(	(	PUNCT
ajfa-6133	248	10	2012	2012	NUM
ajfa-6133	248	11	)	)	PUNCT
ajfa-6133	248	12	.	.	PUNCT
ajfa-6133	249	1	corporate	corporate	ADJ
ajfa-6133	249	2	governance	governance	NOUN
ajfa-6133	249	3	and	and	CCONJ
ajfa-6133	249	4	innovation	innovation	NOUN
ajfa-6133	249	5	.	.	PUNCT
ajfa-6133	250	1	journal	journal	NOUN
ajfa-6133	250	2	of	of	ADP
ajfa-6133	250	3	financial	financial	ADJ
ajfa-6133	250	4	and	and	CCONJ
ajfa-6133	250	5	quantitative	quantitative	ADJ
ajfa-6133	250	6	analysis	analysis	NOUN
ajfa-6133	250	7	,	,	PUNCT
ajfa-6133	250	8	47(2	47(2	PROPN
ajfa-6133	250	9	)	)	PUNCT
ajfa-6133	250	10	,	,	PUNCT
ajfa-6133	250	11	397	397	NUM
ajfa-6133	250	12	-	-	SYM
ajfa-6133	250	13	41	41	NUM
ajfa-6133	250	14	.	.	PUNCT
ajfa-6133	251	1	http://dx.doi.org/10.1017/s002210901200004x	http://dx.doi.org/10.1017/s002210901200004x	PART
ajfa-6133	252	1	copyright	copyright	NOUN
ajfa-6133	252	2	disclaimer	disclaimer	NOUN
ajfa-6133	252	3	copyright	copyright	NOUN
ajfa-6133	252	4	for	for	ADP
ajfa-6133	252	5	this	this	DET
ajfa-6133	252	6	article	article	NOUN
ajfa-6133	252	7	is	be	AUX
ajfa-6133	252	8	retained	retain	VERB
ajfa-6133	252	9	by	by	ADP
ajfa-6133	252	10	the	the	DET
ajfa-6133	252	11	author(s	author(s	PROPN
ajfa-6133	252	12	)	)	PUNCT
ajfa-6133	252	13	,	,	PUNCT
ajfa-6133	252	14	with	with	ADP
ajfa-6133	252	15	first	first	ADJ
ajfa-6133	252	16	publication	publication	NOUN
ajfa-6133	252	17	rights	right	NOUN
ajfa-6133	252	18	granted	grant	VERB
ajfa-6133	252	19	to	to	ADP
ajfa-6133	252	20	the	the	DET
ajfa-6133	252	21	journal	journal	NOUN
ajfa-6133	252	22	.	.	PUNCT
ajfa-6133	253	1	this	this	PRON
ajfa-6133	253	2	is	be	AUX
ajfa-6133	253	3	an	an	DET
ajfa-6133	253	4	open	open	ADJ
ajfa-6133	253	5	-	-	PUNCT
ajfa-6133	253	6	access	access	NOUN
ajfa-6133	253	7	article	article	NOUN
ajfa-6133	253	8	distributed	distribute	VERB
ajfa-6133	253	9	under	under	ADP
ajfa-6133	253	10	the	the	DET
ajfa-6133	253	11	terms	term	NOUN
ajfa-6133	253	12	and	and	CCONJ
ajfa-6133	253	13	conditions	condition	NOUN
ajfa-6133	253	14	of	of	ADP
ajfa-6133	253	15	the	the	DET
ajfa-6133	253	16	creative	creative	ADJ
ajfa-6133	253	17	commons	common	NOUN
ajfa-6133	253	18	attribution	attribution	NOUN
ajfa-6133	253	19	license	license	NOUN
ajfa-6133	253	20	(	(	PUNCT
ajfa-6133	253	21	http://creativecommons.org/licenses/by/3.0/	http://creativecommons.org/licenses/by/3.0/	PROPN
ajfa-6133	253	22	)	)	PUNCT
ajfa-6133	253	23	.	.	PUNCT