id	sid	tid	token	lemma	pos
ajfa-93	1	1	asian	asian	ADJ
ajfa-93	1	2	journal	journal	PROPN
ajfa-93	1	3	of	of	ADP
ajfa-93	1	4	finance	finance	PROPN
ajfa-93	1	5	&	&	CCONJ
ajfa-93	1	6	accounting	accounting	PROPN
ajfa-93	1	7	issn	issn	PROPN
ajfa-93	1	8	1946	1946	NUM
ajfa-93	1	9	-	-	PUNCT
ajfa-93	1	10	052x	052x	NOUN
ajfa-93	1	11	200x	200x	NUM
ajfa-93	1	12	,	,	PUNCT
ajfa-93	1	13	vol	vol	NOUN
ajfa-93	1	14	.	.	PROPN
ajfa-93	1	15	1	1	NUM
ajfa-93	1	16	,	,	PUNCT
ajfa-93	1	17	no	no	INTJ
ajfa-93	1	18	.	.	NOUN
ajfa-93	1	19	1	1	NUM
ajfa-93	1	20	:	:	PUNCT
ajfa-93	1	21	e1	e1	VERB
ajfa-93	1	22	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-93	1	23	34	34	NUM
ajfa-93	1	24	corporate	corporate	ADJ
ajfa-93	1	25	governance	governance	NOUN
ajfa-93	1	26	,	,	PUNCT
ajfa-93	1	27	sustainability	sustainability	NOUN
ajfa-93	1	28	and	and	CCONJ
ajfa-93	1	29	the	the	DET
ajfa-93	1	30	assessment	assessment	NOUN
ajfa-93	1	31	of	of	ADP
ajfa-93	1	32	default	default	NOUN
ajfa-93	1	33	risk	risk	NOUN
ajfa-93	1	34	christina	christina	PROPN
ajfa-93	1	35	james	james	PROPN
ajfa-93	1	36	-	-	PUNCT
ajfa-93	1	37	overheu	overheu	PROPN
ajfa-93	1	38	school	school	NOUN
ajfa-93	1	39	of	of	ADP
ajfa-93	1	40	accounting	accounting	NOUN
ajfa-93	1	41	,	,	PUNCT
ajfa-93	1	42	economics	economic	NOUN
ajfa-93	1	43	and	and	CCONJ
ajfa-93	1	44	finance	finance	NOUN
ajfa-93	1	45	,	,	PUNCT
ajfa-93	1	46	university	university	PROPN
ajfa-93	1	47	of	of	ADP
ajfa-93	1	48	southern	southern	PROPN
ajfa-93	1	49	queensland	queensland	PROPN
ajfa-93	1	50	springfield	springfield	PROPN
ajfa-93	1	51	,	,	PUNCT
ajfa-93	1	52	qld	qld	PROPN
ajfa-93	1	53	,	,	PUNCT
ajfa-93	1	54	4300	4300	NUM
ajfa-93	1	55	australia	australia	PROPN
ajfa-93	1	56	tel	tel	NOUN
ajfa-93	1	57	:	:	PUNCT
ajfa-93	1	58	61	61	NUM
ajfa-93	1	59	7	7	NUM
ajfa-93	1	60	3470	3470	NUM
ajfa-93	1	61	4546	4546	NUM
ajfa-93	1	62	e	e	NOUN
ajfa-93	1	63	-	-	NOUN
ajfa-93	1	64	mail	mail	NOUN
ajfa-93	1	65	:	:	PUNCT
ajfa-93	1	66	cjames@usq.edu.au	cjames@usq.edu.au	PROPN
ajfa-93	1	67	and	and	CCONJ
ajfa-93	1	68	julie	julie	PROPN
ajfa-93	1	69	cotter	cotter	PROPN
ajfa-93	1	70	(	(	PUNCT
ajfa-93	1	71	corresponding	corresponding	ADJ
ajfa-93	1	72	author	author	NOUN
ajfa-93	1	73	)	)	PUNCT
ajfa-93	1	74	school	school	NOUN
ajfa-93	1	75	of	of	ADP
ajfa-93	1	76	accounting	accounting	NOUN
ajfa-93	1	77	,	,	PUNCT
ajfa-93	1	78	economics	economic	NOUN
ajfa-93	1	79	and	and	CCONJ
ajfa-93	1	80	finance	finance	NOUN
ajfa-93	1	81	,	,	PUNCT
ajfa-93	1	82	university	university	NOUN
ajfa-93	1	83	of	of	ADP
ajfa-93	1	84	southern	southern	PROPN
ajfa-93	1	85	queensland	queensland	PROPN
ajfa-93	1	86	toowoomba	toowoomba	PROPN
ajfa-93	1	87	,	,	PUNCT
ajfa-93	1	88	qld	qld	PROPN
ajfa-93	1	89	,	,	PUNCT
ajfa-93	1	90	4350	4350	NUM
ajfa-93	1	91	australia	australia	PROPN
ajfa-93	1	92	tel	tel	PROPN
ajfa-93	1	93	:	:	PUNCT
ajfa-93	1	94	61	61	NUM
ajfa-93	1	95	7	7	NUM
ajfa-93	1	96	4631	4631	NUM
ajfa-93	1	97	2916	2916	NUM
ajfa-93	2	1	e	e	X
ajfa-93	2	2	-	-	NOUN
ajfa-93	2	3	mail	mail	NOUN
ajfa-93	2	4	:	:	PUNCT
ajfa-93	2	5	cotter@usq.edu.au	cotter@usq.edu.au	PROPN
ajfa-93	2	6	abstract	abstract	VERB
ajfa-93	2	7	this	this	DET
ajfa-93	2	8	paper	paper	NOUN
ajfa-93	2	9	investigates	investigate	VERB
ajfa-93	2	10	whether	whether	SCONJ
ajfa-93	2	11	the	the	DET
ajfa-93	2	12	quality	quality	NOUN
ajfa-93	2	13	of	of	ADP
ajfa-93	2	14	a	a	DET
ajfa-93	2	15	firm‟s	firm‟s	NOUN
ajfa-93	2	16	corporate	corporate	ADJ
ajfa-93	2	17	governance	governance	NOUN
ajfa-93	2	18	practices	practice	NOUN
ajfa-93	2	19	and	and	CCONJ
ajfa-93	2	20	its	its	PRON
ajfa-93	2	21	sustainability	sustainability	NOUN
ajfa-93	2	22	disclosures	disclosure	NOUN
ajfa-93	2	23	are	be	AUX
ajfa-93	2	24	inversely	inversely	ADV
ajfa-93	2	25	related	relate	VERB
ajfa-93	2	26	to	to	ADP
ajfa-93	2	27	its	its	PRON
ajfa-93	2	28	assessed	assessed	ADJ
ajfa-93	2	29	default	default	NOUN
ajfa-93	2	30	risk	risk	NOUN
ajfa-93	2	31	.	.	PUNCT
ajfa-93	3	1	it	it	PRON
ajfa-93	3	2	is	be	AUX
ajfa-93	3	3	expected	expect	VERB
ajfa-93	3	4	that	that	SCONJ
ajfa-93	3	5	high	high	ADJ
ajfa-93	3	6	reported	report	VERB
ajfa-93	3	7	standards	standard	NOUN
ajfa-93	3	8	of	of	ADP
ajfa-93	3	9	corporate	corporate	ADJ
ajfa-93	3	10	governance	governance	NOUN
ajfa-93	3	11	will	will	AUX
ajfa-93	3	12	reduce	reduce	VERB
ajfa-93	3	13	the	the	DET
ajfa-93	3	14	assessment	assessment	NOUN
ajfa-93	3	15	of	of	ADP
ajfa-93	3	16	a	a	DET
ajfa-93	3	17	company‟s	company‟s	NOUN
ajfa-93	3	18	default	default	NOUN
ajfa-93	3	19	risk	risk	NOUN
ajfa-93	3	20	by	by	ADP
ajfa-93	3	21	lenders	lender	NOUN
ajfa-93	3	22	,	,	PUNCT
ajfa-93	3	23	underwriters	underwriter	NOUN
ajfa-93	3	24	and	and	CCONJ
ajfa-93	3	25	ratings	rating	NOUN
ajfa-93	3	26	agencies	agency	NOUN
ajfa-93	3	27	,	,	PUNCT
ajfa-93	3	28	and	and	CCONJ
ajfa-93	3	29	therefore	therefore	ADV
ajfa-93	3	30	reduce	reduce	VERB
ajfa-93	3	31	the	the	DET
ajfa-93	3	32	cost	cost	NOUN
ajfa-93	3	33	of	of	ADP
ajfa-93	3	34	debt	debt	NOUN
ajfa-93	3	35	for	for	ADP
ajfa-93	3	36	such	such	ADJ
ajfa-93	3	37	companies	company	NOUN
ajfa-93	3	38	.	.	PUNCT
ajfa-93	4	1	a	a	DET
ajfa-93	4	2	corporate	corporate	ADJ
ajfa-93	4	3	governance	governance	NOUN
ajfa-93	4	4	index	index	NOUN
ajfa-93	4	5	based	base	VERB
ajfa-93	4	6	on	on	ADP
ajfa-93	4	7	annual	annual	ADJ
ajfa-93	4	8	report	report	NOUN
ajfa-93	4	9	disclosures	disclosure	NOUN
ajfa-93	4	10	was	be	AUX
ajfa-93	4	11	developed	develop	VERB
ajfa-93	4	12	to	to	PART
ajfa-93	4	13	rate	rate	VERB
ajfa-93	4	14	each	each	DET
ajfa-93	4	15	company‟s	company‟s	ADJ
ajfa-93	4	16	corporate	corporate	ADJ
ajfa-93	4	17	governance	governance	NOUN
ajfa-93	4	18	quality	quality	NOUN
ajfa-93	4	19	.	.	PUNCT
ajfa-93	5	1	derivation	derivation	NOUN
ajfa-93	5	2	of	of	ADP
ajfa-93	5	3	this	this	DET
ajfa-93	5	4	index	index	NOUN
ajfa-93	5	5	was	be	AUX
ajfa-93	5	6	centred	centre	VERB
ajfa-93	5	7	on	on	ADP
ajfa-93	5	8	corporate	corporate	ADJ
ajfa-93	5	9	governance	governance	NOUN
ajfa-93	5	10	indicators	indicator	NOUN
ajfa-93	5	11	suggested	suggest	VERB
ajfa-93	5	12	by	by	ADP
ajfa-93	5	13	prior	prior	ADJ
ajfa-93	5	14	research	research	NOUN
ajfa-93	5	15	and	and	CCONJ
ajfa-93	5	16	best	good	ADJ
ajfa-93	5	17	practice	practice	NOUN
ajfa-93	5	18	;	;	PUNCT
ajfa-93	5	19	particularly	particularly	ADV
ajfa-93	5	20	the	the	DET
ajfa-93	5	21	australian	australian	ADJ
ajfa-93	5	22	stock	stock	NOUN
ajfa-93	5	23	exchange	exchange	NOUN
ajfa-93	5	24	“	"	PUNCT
ajfa-93	5	25	principles	principle	NOUN
ajfa-93	5	26	of	of	ADP
ajfa-93	5	27	good	good	ADJ
ajfa-93	5	28	corporate	corporate	ADJ
ajfa-93	5	29	governance	governance	NOUN
ajfa-93	5	30	and	and	CCONJ
ajfa-93	5	31	best	good	ADJ
ajfa-93	5	32	practice	practice	NOUN
ajfa-93	5	33	recommendations	recommendation	NOUN
ajfa-93	5	34	”	"	PUNCT
ajfa-93	5	35	.	.	PUNCT
ajfa-93	6	1	it	it	PRON
ajfa-93	6	2	is	be	AUX
ajfa-93	6	3	similarly	similarly	ADV
ajfa-93	6	4	expected	expect	VERB
ajfa-93	6	5	that	that	SCONJ
ajfa-93	6	6	the	the	DET
ajfa-93	6	7	voluntary	voluntary	ADJ
ajfa-93	6	8	disclosure	disclosure	NOUN
ajfa-93	6	9	of	of	ADP
ajfa-93	6	10	sustainability	sustainability	NOUN
ajfa-93	6	11	information	information	NOUN
ajfa-93	6	12	(	(	PUNCT
ajfa-93	6	13	corporate	corporate	ADJ
ajfa-93	6	14	social	social	ADJ
ajfa-93	6	15	reporting	reporting	NOUN
ajfa-93	6	16	or	or	CCONJ
ajfa-93	6	17	csr	csr	NOUN
ajfa-93	6	18	)	)	PUNCT
ajfa-93	6	19	will	will	AUX
ajfa-93	6	20	enhance	enhance	VERB
ajfa-93	6	21	a	a	DET
ajfa-93	6	22	firm‟s	firm‟s	NOUN
ajfa-93	6	23	management	management	NOUN
ajfa-93	6	24	reputation	reputation	NOUN
ajfa-93	6	25	.	.	PUNCT
ajfa-93	7	1	the	the	DET
ajfa-93	7	2	assessment	assessment	NOUN
ajfa-93	7	3	of	of	ADP
ajfa-93	7	4	default	default	NOUN
ajfa-93	7	5	risk	risk	NOUN
ajfa-93	7	6	is	be	AUX
ajfa-93	7	7	captured	capture	VERB
ajfa-93	7	8	by	by	ADP
ajfa-93	7	9	a	a	DET
ajfa-93	7	10	firm‟s	firm‟s	ADJ
ajfa-93	7	11	individual	individual	ADJ
ajfa-93	7	12	credit	credit	NOUN
ajfa-93	7	13	rating	rating	NOUN
ajfa-93	7	14	supplied	supply	VERB
ajfa-93	7	15	by	by	ADP
ajfa-93	7	16	standard	standard	NOUN
ajfa-93	7	17	and	and	CCONJ
ajfa-93	7	18	poor‟s	poor‟s	NOUN
ajfa-93	7	19	.	.	PUNCT
ajfa-93	8	1	our	our	PRON
ajfa-93	8	2	results	result	NOUN
ajfa-93	8	3	indicate	indicate	VERB
ajfa-93	8	4	that	that	SCONJ
ajfa-93	8	5	neither	neither	CCONJ
ajfa-93	8	6	annual	annual	ADJ
ajfa-93	8	7	report	report	NOUN
ajfa-93	8	8	disclosures	disclosure	VERB
ajfa-93	8	9	about	about	ADP
ajfa-93	8	10	corporate	corporate	ADJ
ajfa-93	8	11	governance	governance	NOUN
ajfa-93	8	12	practices	practice	NOUN
ajfa-93	8	13	nor	nor	CCONJ
ajfa-93	8	14	sustainability	sustainability	NOUN
ajfa-93	8	15	disclosures	disclosure	NOUN
ajfa-93	8	16	are	be	AUX
ajfa-93	8	17	significantly	significantly	ADV
ajfa-93	8	18	related	relate	VERB
ajfa-93	8	19	to	to	ADP
ajfa-93	8	20	assessed	assessed	ADJ
ajfa-93	8	21	default	default	NOUN
ajfa-93	8	22	risk	risk	NOUN
ajfa-93	8	23	when	when	SCONJ
ajfa-93	8	24	firm	firm	ADJ
ajfa-93	8	25	size	size	NOUN
ajfa-93	8	26	is	be	AUX
ajfa-93	8	27	controlled	control	VERB
ajfa-93	8	28	.	.	PUNCT
ajfa-93	9	1	key	key	ADJ
ajfa-93	9	2	words	word	NOUN
ajfa-93	9	3	:	:	PUNCT
ajfa-93	9	4	corporate	corporate	ADJ
ajfa-93	9	5	governance	governance	NOUN
ajfa-93	9	6	,	,	PUNCT
ajfa-93	9	7	sustainability	sustainability	NOUN
ajfa-93	9	8	,	,	PUNCT
ajfa-93	9	9	disclosure	disclosure	NOUN
ajfa-93	9	10	,	,	PUNCT
ajfa-93	9	11	default	default	NOUN
ajfa-93	9	12	risk	risk	NOUN
ajfa-93	9	13	,	,	PUNCT
ajfa-93	9	14	credit	credit	NOUN
ajfa-93	9	15	rating	rating	NOUN
ajfa-93	9	16	jel	jel	PROPN
ajfa-93	9	17	classifications	classification	NOUN
ajfa-93	9	18	:	:	PUNCT
ajfa-93	9	19	g32	g32	NOUN
ajfa-93	9	20	,	,	PUNCT
ajfa-93	9	21	g34	g34	NOUN
ajfa-93	9	22	,	,	PUNCT
ajfa-93	9	23	m14	m14	PROPN
ajfa-93	9	24	mailto:cjames@usq.edu.au	mailto:cjames@usq.edu.au	PROPN
ajfa-93	9	25	mailto:cotter@usq.edu.au	mailto:cotter@usq.edu.au	PROPN
ajfa-93	9	26	asian	asian	PROPN
ajfa-93	9	27	journal	journal	PROPN
ajfa-93	9	28	of	of	ADP
ajfa-93	9	29	finance	finance	PROPN
ajfa-93	9	30	&	&	CCONJ
ajfa-93	9	31	accounting	accounting	PROPN
ajfa-93	9	32	issn	issn	PROPN
ajfa-93	9	33	1946	1946	NUM
ajfa-93	9	34	-	-	PUNCT
ajfa-93	9	35	052x	052x	NOUN
ajfa-93	9	36	200x	200x	NUM
ajfa-93	9	37	,	,	PUNCT
ajfa-93	9	38	vol	vol	NOUN
ajfa-93	9	39	.	.	PROPN
ajfa-93	9	40	1	1	NUM
ajfa-93	9	41	,	,	PUNCT
ajfa-93	9	42	no	no	INTJ
ajfa-93	9	43	.	.	NOUN
ajfa-93	9	44	1	1	NUM
ajfa-93	9	45	:	:	PUNCT
ajfa-93	9	46	e1	e1	VERB
ajfa-93	9	47	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-93	9	48	35	35	NUM
ajfa-93	9	49	1	1	NUM
ajfa-93	9	50	.	.	PUNCT
ajfa-93	10	1	introduction	introduction	NOUN
ajfa-93	10	2	this	this	DET
ajfa-93	10	3	paper	paper	NOUN
ajfa-93	10	4	investigates	investigate	VERB
ajfa-93	10	5	whether	whether	SCONJ
ajfa-93	10	6	the	the	DET
ajfa-93	10	7	quality	quality	NOUN
ajfa-93	10	8	of	of	ADP
ajfa-93	10	9	a	a	DET
ajfa-93	10	10	firm‟s	firm‟s	NOUN
ajfa-93	10	11	corporate	corporate	ADJ
ajfa-93	10	12	governance	governance	NOUN
ajfa-93	10	13	and	and	CCONJ
ajfa-93	10	14	its	its	PRON
ajfa-93	10	15	sustainability	sustainability	NOUN
ajfa-93	10	16	disclosures	disclosure	NOUN
ajfa-93	10	17	are	be	AUX
ajfa-93	10	18	inversely	inversely	ADV
ajfa-93	10	19	related	relate	VERB
ajfa-93	10	20	to	to	ADP
ajfa-93	10	21	its	its	PRON
ajfa-93	10	22	assessed	assessed	ADJ
ajfa-93	10	23	default	default	NOUN
ajfa-93	10	24	risk	risk	NOUN
ajfa-93	10	25	.	.	PUNCT
ajfa-93	11	1	lenders	lender	NOUN
ajfa-93	11	2	are	be	AUX
ajfa-93	11	3	an	an	DET
ajfa-93	11	4	important	important	ADJ
ajfa-93	11	5	group	group	NOUN
ajfa-93	11	6	of	of	ADP
ajfa-93	11	7	annual	annual	ADJ
ajfa-93	11	8	report	report	NOUN
ajfa-93	11	9	users	user	NOUN
ajfa-93	11	10	,	,	PUNCT
ajfa-93	11	11	and	and	CCONJ
ajfa-93	11	12	it	it	PRON
ajfa-93	11	13	is	be	AUX
ajfa-93	11	14	therefore	therefore	ADV
ajfa-93	11	15	important	important	ADJ
ajfa-93	11	16	to	to	PART
ajfa-93	11	17	know	know	VERB
ajfa-93	11	18	whether	whether	SCONJ
ajfa-93	11	19	such	such	ADJ
ajfa-93	11	20	disclosures	disclosure	NOUN
ajfa-93	11	21	made	make	VERB
ajfa-93	11	22	in	in	ADP
ajfa-93	11	23	these	these	DET
ajfa-93	11	24	reports	report	NOUN
ajfa-93	11	25	are	be	AUX
ajfa-93	11	26	useful	useful	ADJ
ajfa-93	11	27	for	for	ADP
ajfa-93	11	28	assessing	assess	VERB
ajfa-93	11	29	default	default	NOUN
ajfa-93	11	30	risk	risk	NOUN
ajfa-93	11	31	.	.	PUNCT
ajfa-93	12	1	we	we	PRON
ajfa-93	12	2	investigate	investigate	VERB
ajfa-93	12	3	this	this	DET
ajfa-93	12	4	relationship	relationship	NOUN
ajfa-93	12	5	in	in	ADP
ajfa-93	12	6	the	the	DET
ajfa-93	12	7	australian	australian	ADJ
ajfa-93	12	8	setting	setting	NOUN
ajfa-93	12	9	.	.	PUNCT
ajfa-93	13	1	it	it	PRON
ajfa-93	13	2	is	be	AUX
ajfa-93	13	3	expected	expect	VERB
ajfa-93	13	4	that	that	SCONJ
ajfa-93	13	5	high	high	ADJ
ajfa-93	13	6	perceived	perceive	VERB
ajfa-93	13	7	standards	standard	NOUN
ajfa-93	13	8	of	of	ADP
ajfa-93	13	9	corporate	corporate	ADJ
ajfa-93	13	10	governance	governance	NOUN
ajfa-93	13	11	will	will	AUX
ajfa-93	13	12	reduce	reduce	VERB
ajfa-93	13	13	the	the	DET
ajfa-93	13	14	assessment	assessment	NOUN
ajfa-93	13	15	of	of	ADP
ajfa-93	13	16	a	a	DET
ajfa-93	13	17	company‟s	company‟s	NOUN
ajfa-93	13	18	default	default	NOUN
ajfa-93	13	19	risk	risk	NOUN
ajfa-93	13	20	by	by	ADP
ajfa-93	13	21	lenders	lender	NOUN
ajfa-93	13	22	and	and	CCONJ
ajfa-93	13	23	underwriters	underwriter	NOUN
ajfa-93	13	24	,	,	PUNCT
ajfa-93	13	25	and	and	CCONJ
ajfa-93	13	26	therefore	therefore	ADV
ajfa-93	13	27	reduce	reduce	VERB
ajfa-93	13	28	the	the	DET
ajfa-93	13	29	cost	cost	NOUN
ajfa-93	13	30	of	of	ADP
ajfa-93	13	31	debt	debt	NOUN
ajfa-93	13	32	for	for	ADP
ajfa-93	13	33	such	such	ADJ
ajfa-93	13	34	companies	company	NOUN
ajfa-93	13	35	.	.	PUNCT
ajfa-93	14	1	it	it	PRON
ajfa-93	14	2	is	be	AUX
ajfa-93	14	3	further	far	ADV
ajfa-93	14	4	expected	expect	VERB
ajfa-93	14	5	that	that	SCONJ
ajfa-93	14	6	the	the	DET
ajfa-93	14	7	voluntary	voluntary	ADJ
ajfa-93	14	8	disclosure	disclosure	NOUN
ajfa-93	14	9	of	of	ADP
ajfa-93	14	10	sustainability	sustainability	NOUN
ajfa-93	14	11	information	information	NOUN
ajfa-93	14	12	will	will	AUX
ajfa-93	14	13	signal	signal	VERB
ajfa-93	14	14	effective	effective	ADJ
ajfa-93	14	15	management	management	NOUN
ajfa-93	14	16	and	and	CCONJ
ajfa-93	14	17	therefore	therefore	ADV
ajfa-93	14	18	reduced	reduce	VERB
ajfa-93	14	19	perceived	perceive	VERB
ajfa-93	14	20	default	default	NOUN
ajfa-93	14	21	risk	risk	NOUN
ajfa-93	14	22	.	.	PUNCT
ajfa-93	15	1	there	there	PRON
ajfa-93	15	2	have	have	AUX
ajfa-93	15	3	been	be	AUX
ajfa-93	15	4	several	several	ADJ
ajfa-93	15	5	recent	recent	ADJ
ajfa-93	15	6	studies	study	NOUN
ajfa-93	15	7	investigating	investigate	VERB
ajfa-93	15	8	the	the	DET
ajfa-93	15	9	relationship	relationship	NOUN
ajfa-93	15	10	between	between	ADP
ajfa-93	15	11	corporate	corporate	ADJ
ajfa-93	15	12	governance	governance	NOUN
ajfa-93	15	13	and	and	CCONJ
ajfa-93	15	14	the	the	DET
ajfa-93	15	15	cost	cost	NOUN
ajfa-93	15	16	of	of	ADP
ajfa-93	15	17	debt	debt	NOUN
ajfa-93	15	18	or	or	CCONJ
ajfa-93	15	19	factors	factor	NOUN
ajfa-93	15	20	expected	expect	VERB
ajfa-93	15	21	to	to	PART
ajfa-93	15	22	be	be	AUX
ajfa-93	15	23	closely	closely	ADV
ajfa-93	15	24	related	relate	VERB
ajfa-93	15	25	to	to	ADP
ajfa-93	15	26	it	it	PRON
ajfa-93	15	27	.	.	PUNCT
ajfa-93	16	1	their	their	PRON
ajfa-93	16	2	results	result	NOUN
ajfa-93	16	3	indicate	indicate	VERB
ajfa-93	16	4	support	support	NOUN
ajfa-93	16	5	for	for	ADP
ajfa-93	16	6	a	a	DET
ajfa-93	16	7	relationship	relationship	NOUN
ajfa-93	16	8	between	between	ADP
ajfa-93	16	9	aspects	aspect	NOUN
ajfa-93	16	10	of	of	ADP
ajfa-93	16	11	corporate	corporate	ADJ
ajfa-93	16	12	governance	governance	NOUN
ajfa-93	16	13	quality	quality	NOUN
ajfa-93	16	14	and	and	CCONJ
ajfa-93	16	15	the	the	DET
ajfa-93	16	16	cost	cost	NOUN
ajfa-93	16	17	of	of	ADP
ajfa-93	16	18	debt	debt	NOUN
ajfa-93	16	19	.	.	PUNCT
ajfa-93	17	1	(	(	PUNCT
ajfa-93	17	2	bhojraj	bhojraj	NOUN
ajfa-93	17	3	and	and	CCONJ
ajfa-93	17	4	sengupta	sengupta	NOUN
ajfa-93	17	5	2003	2003	NUM
ajfa-93	17	6	,	,	PUNCT
ajfa-93	17	7	anderson	anderson	PROPN
ajfa-93	17	8	,	,	PUNCT
ajfa-93	17	9	sattar	sattar	PROPN
ajfa-93	17	10	and	and	CCONJ
ajfa-93	17	11	reeb	reeb	PROPN
ajfa-93	17	12	2004	2004	NUM
ajfa-93	17	13	,	,	PUNCT
ajfa-93	17	14	ashbaugh	ashbaugh	NOUN
ajfa-93	17	15	-	-	PUNCT
ajfa-93	17	16	skaife	skaife	NOUN
ajfa-93	17	17	,	,	PUNCT
ajfa-93	17	18	collins	collin	NOUN
ajfa-93	17	19	and	and	CCONJ
ajfa-93	17	20	lafond	lafond	NOUN
ajfa-93	17	21	2006	2006	NUM
ajfa-93	17	22	)	)	PUNCT
ajfa-93	17	23	the	the	DET
ajfa-93	17	24	most	most	ADV
ajfa-93	17	25	recent	recent	ADJ
ajfa-93	17	26	of	of	ADP
ajfa-93	17	27	these	these	DET
ajfa-93	17	28	studies	study	NOUN
ajfa-93	17	29	by	by	ADP
ajfa-93	17	30	ashbaugh	ashbaugh	ADJ
ajfa-93	17	31	-	-	PUNCT
ajfa-93	17	32	skaife	skaife	NOUN
ajfa-93	17	33	et	et	PROPN
ajfa-93	17	34	al	al	PROPN
ajfa-93	17	35	.	.	PROPN
ajfa-93	18	1	(	(	PUNCT
ajfa-93	18	2	2006	2006	NUM
ajfa-93	18	3	)	)	PUNCT
ajfa-93	18	4	found	find	VERB
ajfa-93	18	5	that	that	SCONJ
ajfa-93	18	6	credit	credit	NOUN
ajfa-93	18	7	ratings	rating	NOUN
ajfa-93	18	8	are	be	AUX
ajfa-93	18	9	negatively	negatively	ADV
ajfa-93	18	10	associated	associate	VERB
ajfa-93	18	11	with	with	ADP
ajfa-93	18	12	the	the	DET
ajfa-93	18	13	number	number	NOUN
ajfa-93	18	14	of	of	ADP
ajfa-93	18	15	blockholders	blockholder	NOUN
ajfa-93	18	16	and	and	CCONJ
ajfa-93	18	17	ceo	ceo	NOUN
ajfa-93	18	18	power	power	NOUN
ajfa-93	18	19	,	,	PUNCT
ajfa-93	18	20	and	and	CCONJ
ajfa-93	18	21	positively	positively	ADV
ajfa-93	18	22	related	relate	VERB
ajfa-93	18	23	to	to	ADP
ajfa-93	18	24	takeover	takeover	NOUN
ajfa-93	18	25	defences	defence	NOUN
ajfa-93	18	26	,	,	PUNCT
ajfa-93	18	27	accrual	accrual	ADJ
ajfa-93	18	28	quality	quality	NOUN
ajfa-93	18	29	,	,	PUNCT
ajfa-93	18	30	earnings	earning	NOUN
ajfa-93	18	31	timeliness	timeliness	NOUN
ajfa-93	18	32	,	,	PUNCT
ajfa-93	18	33	board	board	NOUN
ajfa-93	18	34	independence	independence	NOUN
ajfa-93	18	35	,	,	PUNCT
ajfa-93	18	36	board	board	NOUN
ajfa-93	18	37	stock	stock	NOUN
ajfa-93	18	38	ownership	ownership	NOUN
ajfa-93	18	39	and	and	CCONJ
ajfa-93	18	40	board	board	NOUN
ajfa-93	18	41	expertise	expertise	NOUN
ajfa-93	18	42	.	.	PUNCT
ajfa-93	19	1	the	the	DET
ajfa-93	19	2	majority	majority	NOUN
ajfa-93	19	3	of	of	ADP
ajfa-93	19	4	prior	prior	ADJ
ajfa-93	19	5	studies	study	NOUN
ajfa-93	19	6	restricted	restrict	VERB
ajfa-93	19	7	their	their	PRON
ajfa-93	19	8	analysis	analysis	NOUN
ajfa-93	19	9	to	to	ADP
ajfa-93	19	10	a	a	DET
ajfa-93	19	11	limited	limited	ADJ
ajfa-93	19	12	set	set	NOUN
ajfa-93	19	13	of	of	ADP
ajfa-93	19	14	governance	governance	NOUN
ajfa-93	19	15	variables	variable	NOUN
ajfa-93	19	16	,	,	PUNCT
ajfa-93	19	17	for	for	ADP
ajfa-93	19	18	example	example	NOUN
ajfa-93	19	19	bhojraj	bhojraj	NOUN
ajfa-93	19	20	and	and	CCONJ
ajfa-93	19	21	sengupta	sengupta	NOUN
ajfa-93	19	22	(	(	PUNCT
ajfa-93	19	23	2003	2003	NUM
ajfa-93	19	24	)	)	PUNCT
ajfa-93	19	25	investigated	investigate	VERB
ajfa-93	19	26	board	board	NOUN
ajfa-93	19	27	independence	independence	NOUN
ajfa-93	19	28	and	and	CCONJ
ajfa-93	19	29	institutional	institutional	ADJ
ajfa-93	19	30	ownership	ownership	NOUN
ajfa-93	19	31	,	,	PUNCT
ajfa-93	19	32	while	while	SCONJ
ajfa-93	19	33	anderson	anderson	PROPN
ajfa-93	19	34	et	et	PROPN
ajfa-93	19	35	al	al	PROPN
ajfa-93	19	36	.	.	PROPN
ajfa-93	20	1	(	(	PUNCT
ajfa-93	20	2	2004	2004	NUM
ajfa-93	20	3	)	)	PUNCT
ajfa-93	20	4	examined	examine	VERB
ajfa-93	20	5	board	board	NOUN
ajfa-93	20	6	characteristics	characteristic	NOUN
ajfa-93	20	7	and	and	CCONJ
ajfa-93	20	8	the	the	DET
ajfa-93	20	9	cost	cost	NOUN
ajfa-93	20	10	of	of	ADP
ajfa-93	20	11	debt	debt	NOUN
ajfa-93	20	12	for	for	ADP
ajfa-93	20	13	s	s	PROPN
ajfa-93	20	14	&	&	CCONJ
ajfa-93	20	15	p	p	ADJ
ajfa-93	20	16	500	500	NUM
ajfa-93	20	17	firms	firm	NOUN
ajfa-93	20	18	in	in	ADP
ajfa-93	20	19	the	the	DET
ajfa-93	20	20	united	united	PROPN
ajfa-93	20	21	states	states	PROPN
ajfa-93	20	22	and	and	CCONJ
ajfa-93	20	23	found	find	VERB
ajfa-93	20	24	cost	cost	NOUN
ajfa-93	20	25	of	of	ADP
ajfa-93	20	26	debt	debt	NOUN
ajfa-93	20	27	to	to	PART
ajfa-93	20	28	be	be	AUX
ajfa-93	20	29	inversely	inversely	ADV
ajfa-93	20	30	related	relate	VERB
ajfa-93	20	31	to	to	ADP
ajfa-93	20	32	board	board	NOUN
ajfa-93	20	33	size	size	NOUN
ajfa-93	20	34	and	and	CCONJ
ajfa-93	20	35	independence	independence	NOUN
ajfa-93	20	36	and	and	CCONJ
ajfa-93	20	37	also	also	ADV
ajfa-93	20	38	audit	audit	NOUN
ajfa-93	20	39	committee	committee	NOUN
ajfa-93	20	40	independence	independence	NOUN
ajfa-93	20	41	,	,	PUNCT
ajfa-93	20	42	size	size	NOUN
ajfa-93	20	43	and	and	CCONJ
ajfa-93	20	44	meeting	meeting	NOUN
ajfa-93	20	45	frequency	frequency	NOUN
ajfa-93	20	46	.	.	PUNCT
ajfa-93	21	1	in	in	ADP
ajfa-93	21	2	this	this	DET
ajfa-93	21	3	study	study	NOUN
ajfa-93	21	4	we	we	PRON
ajfa-93	21	5	take	take	VERB
ajfa-93	21	6	a	a	DET
ajfa-93	21	7	thorough	thorough	ADJ
ajfa-93	21	8	approach	approach	NOUN
ajfa-93	21	9	to	to	ADP
ajfa-93	21	10	the	the	DET
ajfa-93	21	11	measurement	measurement	NOUN
ajfa-93	21	12	of	of	ADP
ajfa-93	21	13	governance	governance	NOUN
ajfa-93	21	14	practices	practice	NOUN
ajfa-93	21	15	and	and	CCONJ
ajfa-93	21	16	develop	develop	VERB
ajfa-93	21	17	a	a	DET
ajfa-93	21	18	comprehensive	comprehensive	ADJ
ajfa-93	21	19	corporate	corporate	ADJ
ajfa-93	21	20	governance	governance	NOUN
ajfa-93	21	21	index	index	NOUN
ajfa-93	21	22	.	.	PUNCT
ajfa-93	22	1	our	our	PRON
ajfa-93	22	2	index	index	NOUN
ajfa-93	22	3	is	be	AUX
ajfa-93	22	4	centred	centre	VERB
ajfa-93	22	5	on	on	ADP
ajfa-93	22	6	corporate	corporate	ADJ
ajfa-93	22	7	governance	governance	NOUN
ajfa-93	22	8	disclosures	disclosure	NOUN
ajfa-93	22	9	related	relate	VERB
ajfa-93	22	10	to	to	ADP
ajfa-93	22	11	the	the	DET
ajfa-93	22	12	asx	asx	NOUN
ajfa-93	22	13	principles	principle	NOUN
ajfa-93	22	14	of	of	ADP
ajfa-93	22	15	good	good	ADJ
ajfa-93	22	16	corporate	corporate	ADJ
ajfa-93	22	17	governance	governance	NOUN
ajfa-93	22	18	and	and	CCONJ
ajfa-93	22	19	best	good	ADJ
ajfa-93	22	20	practice	practice	NOUN
ajfa-93	22	21	recommendations	recommendation	NOUN
ajfa-93	22	22	.	.	PUNCT
ajfa-93	23	1	this	this	DET
ajfa-93	23	2	approach	approach	NOUN
ajfa-93	23	3	allows	allow	VERB
ajfa-93	23	4	us	we	PRON
ajfa-93	23	5	to	to	PART
ajfa-93	23	6	test	test	VERB
ajfa-93	23	7	whether	whether	SCONJ
ajfa-93	23	8	these	these	DET
ajfa-93	23	9	governance	governance	NOUN
ajfa-93	23	10	practices	practice	NOUN
ajfa-93	23	11	disclosed	disclose	VERB
ajfa-93	23	12	in	in	ADP
ajfa-93	23	13	the	the	DET
ajfa-93	23	14	annual	annual	ADJ
ajfa-93	23	15	reports	report	NOUN
ajfa-93	23	16	are	be	AUX
ajfa-93	23	17	useful	useful	ADJ
ajfa-93	23	18	when	when	SCONJ
ajfa-93	23	19	assessing	assess	VERB
ajfa-93	23	20	default	default	NOUN
ajfa-93	23	21	risk	risk	NOUN
ajfa-93	23	22	.	.	PUNCT
ajfa-93	24	1	regulatory	regulatory	ADJ
ajfa-93	24	2	bodies	body	NOUN
ajfa-93	24	3	around	around	ADP
ajfa-93	24	4	the	the	DET
ajfa-93	24	5	world	world	NOUN
ajfa-93	24	6	have	have	AUX
ajfa-93	24	7	attempted	attempt	VERB
ajfa-93	24	8	to	to	PART
ajfa-93	24	9	define	define	VERB
ajfa-93	24	10	what	what	PRON
ajfa-93	24	11	constitutes	constitute	VERB
ajfa-93	24	12	high	high	ADJ
ajfa-93	24	13	quality	quality	NOUN
ajfa-93	24	14	corporate	corporate	ADJ
ajfa-93	24	15	governance	governance	NOUN
ajfa-93	24	16	.	.	PUNCT
ajfa-93	25	1	the	the	DET
ajfa-93	25	2	australian	australian	ADJ
ajfa-93	25	3	stock	stock	NOUN
ajfa-93	25	4	exchange	exchange	PROPN
ajfa-93	25	5	(	(	PUNCT
ajfa-93	25	6	asx	asx	NOUN
ajfa-93	25	7	)	)	PUNCT
ajfa-93	25	8	issued	issue	VERB
ajfa-93	25	9	ten	ten	NUM
ajfa-93	25	10	core	core	NOUN
ajfa-93	25	11	“	"	PUNCT
ajfa-93	25	12	principles	principle	NOUN
ajfa-93	25	13	of	of	ADP
ajfa-93	25	14	good	good	ADJ
ajfa-93	25	15	corporate	corporate	ADJ
ajfa-93	25	16	governance	governance	NOUN
ajfa-93	25	17	and	and	CCONJ
ajfa-93	25	18	best	good	ADJ
ajfa-93	25	19	practice	practice	NOUN
ajfa-93	25	20	recommendations	recommendation	NOUN
ajfa-93	25	21	”	"	PUNCT
ajfa-93	25	22	to	to	PART
ajfa-93	25	23	apply	apply	VERB
ajfa-93	25	24	to	to	ADP
ajfa-93	25	25	company	company	NOUN
ajfa-93	25	26	reports	report	NOUN
ajfa-93	25	27	for	for	ADP
ajfa-93	25	28	the	the	DET
ajfa-93	25	29	first	first	ADJ
ajfa-93	25	30	financial	financial	ADJ
ajfa-93	25	31	year	year	NOUN
ajfa-93	25	32	after	after	ADP
ajfa-93	25	33	1	1	NUM
ajfa-93	25	34	january	january	NOUN
ajfa-93	25	35	2003	2003	NUM
ajfa-93	25	36	(	(	PUNCT
ajfa-93	25	37	effectively	effectively	ADV
ajfa-93	25	38	the	the	DET
ajfa-93	25	39	year	year	NOUN
ajfa-93	25	40	ending	end	VERB
ajfa-93	25	41	30	30	NUM
ajfa-93	25	42	june	june	PROPN
ajfa-93	25	43	2004	2004	NUM
ajfa-93	25	44	for	for	ADP
ajfa-93	25	45	most	most	ADJ
ajfa-93	25	46	australian	australian	ADJ
ajfa-93	25	47	companies	company	NOUN
ajfa-93	25	48	)	)	PUNCT
ajfa-93	25	49	.	.	PUNCT
ajfa-93	26	1	since	since	SCONJ
ajfa-93	26	2	this	this	DET
ajfa-93	26	3	time	time	NOUN
ajfa-93	26	4	firms	firm	NOUN
ajfa-93	26	5	have	have	AUX
ajfa-93	26	6	been	be	AUX
ajfa-93	26	7	obliged	oblige	VERB
ajfa-93	26	8	to	to	PART
ajfa-93	26	9	report	report	VERB
ajfa-93	26	10	any	any	DET
ajfa-93	26	11	departures	departure	NOUN
ajfa-93	26	12	from	from	ADP
ajfa-93	26	13	the	the	DET
ajfa-93	26	14	principles	principle	NOUN
ajfa-93	26	15	,	,	PUNCT
ajfa-93	26	16	but	but	CCONJ
ajfa-93	26	17	they	they	PRON
ajfa-93	26	18	were	be	AUX
ajfa-93	26	19	encouraged	encourage	VERB
ajfa-93	26	20	to	to	PART
ajfa-93	26	21	assess	assess	VERB
ajfa-93	26	22	their	their	PRON
ajfa-93	26	23	compliance	compliance	NOUN
ajfa-93	26	24	as	as	ADV
ajfa-93	26	25	early	early	ADV
ajfa-93	26	26	as	as	ADP
ajfa-93	26	27	possible	possible	ADJ
ajfa-93	26	28	.	.	PUNCT
ajfa-93	27	1	thus	thus	ADV
ajfa-93	27	2	,	,	PUNCT
ajfa-93	27	3	while	while	SCONJ
ajfa-93	27	4	disclosure	disclosure	NOUN
ajfa-93	27	5	about	about	ADP
ajfa-93	27	6	corporate	corporate	ADJ
ajfa-93	27	7	governance	governance	NOUN
ajfa-93	27	8	practices	practice	NOUN
ajfa-93	27	9	was	be	AUX
ajfa-93	27	10	voluntary	voluntary	ADJ
ajfa-93	27	11	in	in	ADP
ajfa-93	27	12	australia	australia	PROPN
ajfa-93	27	13	in	in	ADP
ajfa-93	27	14	2003	2003	NUM
ajfa-93	27	15	and	and	CCONJ
ajfa-93	27	16	prior	prior	ADV
ajfa-93	27	17	,	,	PUNCT
ajfa-93	27	18	a	a	DET
ajfa-93	27	19	considerable	considerable	ADJ
ajfa-93	27	20	amount	amount	NOUN
ajfa-93	27	21	of	of	ADP
ajfa-93	27	22	disclosure	disclosure	NOUN
ajfa-93	27	23	was	be	AUX
ajfa-93	27	24	present	present	ADJ
ajfa-93	27	25	.	.	PUNCT
ajfa-93	28	1	1	1	NUM
ajfa-93	28	2	one	one	NUM
ajfa-93	28	3	potential	potential	ADJ
ajfa-93	28	4	factor	factor	NOUN
ajfa-93	28	5	that	that	PRON
ajfa-93	28	6	motivates	motivate	VERB
ajfa-93	28	7	a	a	DET
ajfa-93	28	8	company	company	NOUN
ajfa-93	28	9	and	and	CCONJ
ajfa-93	28	10	its	its	PRON
ajfa-93	28	11	directors	director	NOUN
ajfa-93	28	12	to	to	PART
ajfa-93	28	13	voluntarily	voluntarily	ADV
ajfa-93	28	14	disclose	disclose	VERB
ajfa-93	28	15	information	information	NOUN
ajfa-93	28	16	regarding	regard	VERB
ajfa-93	28	17	corporate	corporate	ADJ
ajfa-93	28	18	governance	governance	NOUN
ajfa-93	28	19	is	be	AUX
ajfa-93	28	20	that	that	SCONJ
ajfa-93	28	21	these	these	DET
ajfa-93	28	22	disclosures	disclosure	NOUN
ajfa-93	28	23	reduce	reduce	VERB
ajfa-93	28	24	the	the	DET
ajfa-93	28	25	apparent	apparent	ADJ
ajfa-93	28	26	risk	risk	NOUN
ajfa-93	28	27	of	of	ADP
ajfa-93	28	28	investment	investment	NOUN
ajfa-93	28	29	in	in	ADP
ajfa-93	28	30	the	the	DET
ajfa-93	28	31	company	company	NOUN
ajfa-93	28	32	,	,	PUNCT
ajfa-93	28	33	and	and	CCONJ
ajfa-93	28	34	hence	hence	ADV
ajfa-93	28	35	its	its	PRON
ajfa-93	28	36	external	external	ADJ
ajfa-93	28	37	financing	financing	NOUN
ajfa-93	28	38	costs	cost	NOUN
ajfa-93	28	39	.	.	PUNCT
ajfa-93	29	1	effective	effective	ADJ
ajfa-93	29	2	corporate	corporate	ADJ
ajfa-93	29	3	governance	governance	NOUN
ajfa-93	29	4	allows	allow	VERB
ajfa-93	29	5	accurate	accurate	ADJ
ajfa-93	29	6	performance	performance	NOUN
ajfa-93	29	7	monitoring	monitoring	NOUN
ajfa-93	29	8	,	,	PUNCT
ajfa-93	29	9	and	and	CCONJ
ajfa-93	29	10	promotes	promote	VERB
ajfa-93	29	11	stability	stability	NOUN
ajfa-93	29	12	and	and	CCONJ
ajfa-93	29	13	market	market	NOUN
ajfa-93	29	14	and	and	CCONJ
ajfa-93	29	15	investor	investor	NOUN
ajfa-93	29	16	confidence	confidence	NOUN
ajfa-93	29	17	,	,	PUNCT
ajfa-93	29	18	and	and	CCONJ
ajfa-93	29	19	hence	hence	ADV
ajfa-93	29	20	reduces	reduce	VERB
ajfa-93	29	21	perceived	perceive	VERB
ajfa-93	29	22	risk	risk	NOUN
ajfa-93	29	23	.	.	PUNCT
ajfa-93	30	1	“	"	PUNCT
ajfa-93	30	2	corporate	corporate	ADJ
ajfa-93	30	3	governance	governance	NOUN
ajfa-93	30	4	deals	deal	NOUN
ajfa-93	30	5	with	with	ADP
ajfa-93	30	6	the	the	DET
ajfa-93	30	7	ways	way	NOUN
ajfa-93	30	8	in	in	ADP
ajfa-93	30	9	which	which	PRON
ajfa-93	30	10	suppliers	supplier	NOUN
ajfa-93	30	11	of	of	ADP
ajfa-93	30	12	finance	finance	NOUN
ajfa-93	30	13	to	to	ADP
ajfa-93	30	14	corporations	corporation	NOUN
ajfa-93	30	15	1	1	NUM
ajfa-93	30	16	there	there	PRON
ajfa-93	30	17	are	be	VERB
ajfa-93	30	18	several	several	ADJ
ajfa-93	30	19	reasons	reason	NOUN
ajfa-93	30	20	why	why	SCONJ
ajfa-93	30	21	companies	company	NOUN
ajfa-93	30	22	might	might	AUX
ajfa-93	30	23	have	have	AUX
ajfa-93	30	24	chosen	choose	VERB
ajfa-93	30	25	to	to	PART
ajfa-93	30	26	voluntarily	voluntarily	ADV
ajfa-93	30	27	disclose	disclose	VERB
ajfa-93	30	28	information	information	NOUN
ajfa-93	30	29	about	about	ADP
ajfa-93	30	30	their	their	PRON
ajfa-93	30	31	corporate	corporate	ADJ
ajfa-93	30	32	governance	governance	NOUN
ajfa-93	30	33	policies	policy	NOUN
ajfa-93	30	34	and	and	CCONJ
ajfa-93	30	35	practices	practice	NOUN
ajfa-93	30	36	.	.	PUNCT
ajfa-93	31	1	the	the	DET
ajfa-93	31	2	research	research	NOUN
ajfa-93	31	3	literature	literature	NOUN
ajfa-93	31	4	provides	provide	VERB
ajfa-93	31	5	evidence	evidence	NOUN
ajfa-93	31	6	that	that	SCONJ
ajfa-93	31	7	annual	annual	ADJ
ajfa-93	31	8	report	report	NOUN
ajfa-93	31	9	disclosures	disclosure	NOUN
ajfa-93	31	10	reveal	reveal	VERB
ajfa-93	31	11	credible	credible	ADJ
ajfa-93	31	12	,	,	PUNCT
ajfa-93	31	13	relevant	relevant	ADJ
ajfa-93	31	14	information	information	NOUN
ajfa-93	31	15	that	that	PRON
ajfa-93	31	16	is	be	AUX
ajfa-93	31	17	priced	price	VERB
ajfa-93	31	18	by	by	ADP
ajfa-93	31	19	investors	investor	NOUN
ajfa-93	31	20	,	,	PUNCT
ajfa-93	31	21	reduces	reduce	VERB
ajfa-93	31	22	estimation	estimation	NOUN
ajfa-93	31	23	risk	risk	NOUN
ajfa-93	31	24	and	and	CCONJ
ajfa-93	31	25	information	information	NOUN
ajfa-93	31	26	asymmetry	asymmetry	NOUN
ajfa-93	31	27	,	,	PUNCT
ajfa-93	31	28	and	and	CCONJ
ajfa-93	31	29	reduces	reduce	VERB
ajfa-93	31	30	the	the	DET
ajfa-93	31	31	cost	cost	NOUN
ajfa-93	31	32	of	of	ADP
ajfa-93	31	33	equity	equity	NOUN
ajfa-93	31	34	capital	capital	NOUN
ajfa-93	31	35	for	for	ADP
ajfa-93	31	36	firms	firm	NOUN
ajfa-93	31	37	with	with	ADP
ajfa-93	31	38	a	a	DET
ajfa-93	31	39	low	low	ADJ
ajfa-93	31	40	analyst	analyst	NOUN
ajfa-93	31	41	following	following	NOUN
ajfa-93	31	42	.	.	PUNCT
ajfa-93	32	1	(	(	PUNCT
ajfa-93	32	2	lang	lang	PROPN
ajfa-93	32	3	and	and	CCONJ
ajfa-93	32	4	lundholm	lundholm	ADJ
ajfa-93	32	5	1996	1996	NUM
ajfa-93	32	6	,	,	PUNCT
ajfa-93	32	7	botosan	botosan	NOUN
ajfa-93	32	8	1997	1997	NUM
ajfa-93	32	9	,	,	PUNCT
ajfa-93	32	10	botosan	botosan	NOUN
ajfa-93	32	11	and	and	CCONJ
ajfa-93	32	12	plumlee	plumlee	PROPN
ajfa-93	32	13	2002	2002	NUM
ajfa-93	32	14	,	,	PUNCT
ajfa-93	32	15	lundholm	lundholm	ADJ
ajfa-93	32	16	and	and	CCONJ
ajfa-93	32	17	myers	myer	NOUN
ajfa-93	32	18	2002	2002	NUM
ajfa-93	32	19	)	)	PUNCT
ajfa-93	32	20	asian	asian	ADJ
ajfa-93	32	21	journal	journal	NOUN
ajfa-93	32	22	of	of	ADP
ajfa-93	32	23	finance	finance	PROPN
ajfa-93	32	24	&	&	CCONJ
ajfa-93	32	25	accounting	accounting	PROPN
ajfa-93	32	26	issn	issn	PROPN
ajfa-93	32	27	1946	1946	NUM
ajfa-93	32	28	-	-	PUNCT
ajfa-93	32	29	052x	052x	NOUN
ajfa-93	32	30	200x	200x	NUM
ajfa-93	32	31	,	,	PUNCT
ajfa-93	32	32	vol	vol	NOUN
ajfa-93	32	33	.	.	PROPN
ajfa-93	32	34	1	1	NUM
ajfa-93	32	35	,	,	PUNCT
ajfa-93	32	36	no	no	INTJ
ajfa-93	32	37	.	.	NOUN
ajfa-93	32	38	1	1	NUM
ajfa-93	32	39	:	:	PUNCT
ajfa-93	32	40	e1	e1	VERB
ajfa-93	32	41	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-93	32	42	36	36	NUM
ajfa-93	32	43	assure	assure	VERB
ajfa-93	32	44	themselves	themselves	PRON
ajfa-93	32	45	of	of	ADP
ajfa-93	32	46	getting	get	VERB
ajfa-93	32	47	a	a	DET
ajfa-93	32	48	return	return	NOUN
ajfa-93	32	49	on	on	ADP
ajfa-93	32	50	their	their	PRON
ajfa-93	32	51	investment	investment	NOUN
ajfa-93	32	52	,	,	PUNCT
ajfa-93	32	53	”	"	PUNCT
ajfa-93	32	54	per	per	ADP
ajfa-93	32	55	shleifer	shleifer	NOUN
ajfa-93	32	56	and	and	CCONJ
ajfa-93	32	57	vishny	vishny	PROPN
ajfa-93	32	58	(	(	PUNCT
ajfa-93	32	59	1997	1997	NUM
ajfa-93	32	60	)	)	PUNCT
ajfa-93	32	61	.	.	PUNCT
ajfa-93	33	1	2	2	NUM
ajfa-93	33	2	agency	agency	NOUN
ajfa-93	33	3	theory	theory	NOUN
ajfa-93	33	4	suggests	suggest	VERB
ajfa-93	33	5	that	that	SCONJ
ajfa-93	33	6	stakeholders	stakeholder	NOUN
ajfa-93	33	7	seek	seek	VERB
ajfa-93	33	8	to	to	PART
ajfa-93	33	9	reduce	reduce	VERB
ajfa-93	33	10	information	information	NOUN
ajfa-93	33	11	asymmetry	asymmetry	NOUN
ajfa-93	33	12	.	.	PUNCT
ajfa-93	34	1	financiers	financier	NOUN
ajfa-93	34	2	need	need	VERB
ajfa-93	34	3	the	the	DET
ajfa-93	34	4	management	management	NOUN
ajfa-93	34	5	expertise	expertise	NOUN
ajfa-93	34	6	but	but	CCONJ
ajfa-93	34	7	this	this	PRON
ajfa-93	34	8	leaves	leave	VERB
ajfa-93	34	9	managers	manager	NOUN
ajfa-93	34	10	with	with	ADP
ajfa-93	34	11	significant	significant	ADJ
ajfa-93	34	12	control	control	NOUN
ajfa-93	34	13	rights	right	NOUN
ajfa-93	34	14	and	and	CCONJ
ajfa-93	34	15	the	the	DET
ajfa-93	34	16	question	question	NOUN
ajfa-93	34	17	of	of	ADP
ajfa-93	34	18	how	how	SCONJ
ajfa-93	34	19	financiers	financier	NOUN
ajfa-93	34	20	can	can	AUX
ajfa-93	34	21	ensure	ensure	VERB
ajfa-93	34	22	these	these	PRON
ajfa-93	34	23	are	be	AUX
ajfa-93	34	24	not	not	PART
ajfa-93	34	25	exercised	exercise	VERB
ajfa-93	34	26	for	for	ADP
ajfa-93	34	27	the	the	DET
ajfa-93	34	28	benefit	benefit	NOUN
ajfa-93	34	29	of	of	ADP
ajfa-93	34	30	shareholders	shareholder	NOUN
ajfa-93	34	31	or	or	CCONJ
ajfa-93	34	32	managers‟	managers‟	NOUN
ajfa-93	34	33	personal	personal	ADJ
ajfa-93	34	34	gain	gain	NOUN
ajfa-93	34	35	at	at	ADP
ajfa-93	34	36	the	the	DET
ajfa-93	34	37	expense	expense	NOUN
ajfa-93	34	38	of	of	ADP
ajfa-93	34	39	bondholders	bondholder	NOUN
ajfa-93	34	40	(	(	PUNCT
ajfa-93	34	41	jensen	jensen	PROPN
ajfa-93	34	42	and	and	CCONJ
ajfa-93	34	43	meckling	meckle	VERB
ajfa-93	34	44	1976	1976	NUM
ajfa-93	34	45	)	)	PUNCT
ajfa-93	34	46	.	.	PUNCT
ajfa-93	35	1	to	to	ADP
ajfa-93	35	2	the	the	DET
ajfa-93	35	3	extent	extent	NOUN
ajfa-93	35	4	that	that	SCONJ
ajfa-93	35	5	governance	governance	NOUN
ajfa-93	35	6	is	be	AUX
ajfa-93	35	7	an	an	DET
ajfa-93	35	8	important	important	ADJ
ajfa-93	35	9	determinant	determinant	NOUN
ajfa-93	35	10	of	of	ADP
ajfa-93	35	11	default	default	NOUN
ajfa-93	35	12	risk	risk	NOUN
ajfa-93	35	13	,	,	PUNCT
ajfa-93	35	14	its	its	PRON
ajfa-93	35	15	perceived	perceive	VERB
ajfa-93	35	16	strength	strength	NOUN
ajfa-93	35	17	can	can	AUX
ajfa-93	35	18	have	have	VERB
ajfa-93	35	19	a	a	DET
ajfa-93	35	20	significant	significant	ADJ
ajfa-93	35	21	effect	effect	NOUN
ajfa-93	35	22	on	on	ADP
ajfa-93	35	23	estimating	estimate	VERB
ajfa-93	35	24	that	that	DET
ajfa-93	35	25	risk	risk	NOUN
ajfa-93	35	26	.	.	PUNCT
ajfa-93	36	1	weak	weak	ADJ
ajfa-93	36	2	governance	governance	NOUN
ajfa-93	36	3	can	can	AUX
ajfa-93	36	4	impair	impair	VERB
ajfa-93	36	5	a	a	DET
ajfa-93	36	6	firm‟s	firm‟s	NOUN
ajfa-93	36	7	financial	financial	ADJ
ajfa-93	36	8	position	position	NOUN
ajfa-93	36	9	and	and	CCONJ
ajfa-93	36	10	ability	ability	NOUN
ajfa-93	36	11	to	to	PART
ajfa-93	36	12	repay	repay	VERB
ajfa-93	36	13	its	its	PRON
ajfa-93	36	14	debts	debt	NOUN
ajfa-93	36	15	.	.	PUNCT
ajfa-93	37	1	a	a	DET
ajfa-93	37	2	firm‟s	firm‟s	NOUN
ajfa-93	37	3	credit	credit	NOUN
ajfa-93	37	4	rating	rating	NOUN
ajfa-93	37	5	reflects	reflect	VERB
ajfa-93	37	6	a	a	DET
ajfa-93	37	7	rating	rating	NOUN
ajfa-93	37	8	agency‟s	agency‟s	NOUN
ajfa-93	37	9	opinion	opinion	NOUN
ajfa-93	37	10	of	of	ADP
ajfa-93	37	11	an	an	DET
ajfa-93	37	12	entity‟s	entity‟s	ADJ
ajfa-93	37	13	overall	overall	ADJ
ajfa-93	37	14	creditworthiness	creditworthiness	NOUN
ajfa-93	37	15	and	and	CCONJ
ajfa-93	37	16	its	its	PRON
ajfa-93	37	17	capacity	capacity	NOUN
ajfa-93	37	18	to	to	PART
ajfa-93	37	19	satisfy	satisfy	VERB
ajfa-93	37	20	its	its	PRON
ajfa-93	37	21	financial	financial	ADJ
ajfa-93	37	22	obligations	obligation	NOUN
ajfa-93	37	23	(	(	PUNCT
ajfa-93	37	24	standard	standard	NOUN
ajfa-93	37	25	&	&	CCONJ
ajfa-93	37	26	poor‟s	poor‟s	PROPN
ajfa-93	37	27	,	,	PUNCT
ajfa-93	37	28	2002	2002	NUM
ajfa-93	37	29	)	)	PUNCT
ajfa-93	37	30	although	although	SCONJ
ajfa-93	37	31	the	the	DET
ajfa-93	37	32	detailed	detailed	ADJ
ajfa-93	37	33	methodology	methodology	NOUN
ajfa-93	37	34	used	use	VERB
ajfa-93	37	35	for	for	ADP
ajfa-93	37	36	developing	develop	VERB
ajfa-93	37	37	corporate	corporate	ADJ
ajfa-93	37	38	credit	credit	NOUN
ajfa-93	37	39	ratings	rating	NOUN
ajfa-93	37	40	by	by	ADP
ajfa-93	37	41	firms	firm	NOUN
ajfa-93	37	42	such	such	ADJ
ajfa-93	37	43	as	as	ADP
ajfa-93	37	44	standard	standard	PROPN
ajfa-93	37	45	&	&	CCONJ
ajfa-93	37	46	poor‟s	poor‟s	PROPN
ajfa-93	37	47	(	(	PUNCT
ajfa-93	37	48	s	s	X
ajfa-93	37	49	&	&	CCONJ
ajfa-93	37	50	p	p	X
ajfa-93	37	51	)	)	PUNCT
ajfa-93	37	52	and	and	CCONJ
ajfa-93	37	53	moody‟s	moody‟s	NOUN
ajfa-93	37	54	is	be	AUX
ajfa-93	37	55	not	not	PART
ajfa-93	37	56	public	public	ADJ
ajfa-93	37	57	information	information	NOUN
ajfa-93	37	58	,	,	PUNCT
ajfa-93	37	59	it	it	PRON
ajfa-93	37	60	is	be	AUX
ajfa-93	37	61	reasonable	reasonable	ADJ
ajfa-93	37	62	to	to	PART
ajfa-93	37	63	assume	assume	VERB
ajfa-93	37	64	that	that	SCONJ
ajfa-93	37	65	an	an	DET
ajfa-93	37	66	assessment	assessment	NOUN
ajfa-93	37	67	of	of	ADP
ajfa-93	37	68	a	a	DET
ajfa-93	37	69	company‟s	company‟s	ADJ
ajfa-93	37	70	internal	internal	ADJ
ajfa-93	37	71	regulation	regulation	NOUN
ajfa-93	37	72	and	and	CCONJ
ajfa-93	37	73	corporate	corporate	ADJ
ajfa-93	37	74	governance	governance	NOUN
ajfa-93	37	75	practices	practice	NOUN
ajfa-93	37	76	would	would	AUX
ajfa-93	37	77	be	be	AUX
ajfa-93	37	78	a	a	DET
ajfa-93	37	79	factor	factor	NOUN
ajfa-93	37	80	in	in	ADP
ajfa-93	37	81	assessing	assess	VERB
ajfa-93	37	82	the	the	DET
ajfa-93	37	83	default	default	NOUN
ajfa-93	37	84	risk	risk	NOUN
ajfa-93	37	85	level	level	NOUN
ajfa-93	37	86	for	for	ADP
ajfa-93	37	87	lenders	lender	NOUN
ajfa-93	37	88	.	.	PUNCT
ajfa-93	38	1	a	a	DET
ajfa-93	38	2	number	number	NOUN
ajfa-93	38	3	of	of	ADP
ajfa-93	38	4	us	us	PROPN
ajfa-93	38	5	studies	study	NOUN
ajfa-93	38	6	have	have	AUX
ajfa-93	38	7	found	find	VERB
ajfa-93	38	8	a	a	DET
ajfa-93	38	9	positive	positive	ADJ
ajfa-93	38	10	association	association	NOUN
ajfa-93	38	11	between	between	ADP
ajfa-93	38	12	aspects	aspect	NOUN
ajfa-93	38	13	of	of	ADP
ajfa-93	38	14	corporate	corporate	ADJ
ajfa-93	38	15	governance	governance	NOUN
ajfa-93	38	16	and	and	CCONJ
ajfa-93	38	17	firm	firm	ADJ
ajfa-93	38	18	value	value	NOUN
ajfa-93	38	19	(	(	PUNCT
ajfa-93	38	20	lundholm	lundholm	ADJ
ajfa-93	38	21	and	and	CCONJ
ajfa-93	38	22	myers	myer	NOUN
ajfa-93	38	23	2002	2002	NUM
ajfa-93	38	24	;	;	PUNCT
ajfa-93	38	25	botosan	botosan	PROPN
ajfa-93	38	26	1997	1997	NUM
ajfa-93	38	27	;	;	PUNCT
ajfa-93	38	28	botosan	botosan	NOUN
ajfa-93	38	29	and	and	CCONJ
ajfa-93	38	30	plumlee	plumlee	PROPN
ajfa-93	38	31	2002	2002	NUM
ajfa-93	38	32	;	;	PUNCT
ajfa-93	38	33	lang	lang	PROPN
ajfa-93	38	34	and	and	CCONJ
ajfa-93	38	35	lundholm	lundholm	ADJ
ajfa-93	38	36	1996	1996	NUM
ajfa-93	38	37	,	,	PUNCT
ajfa-93	38	38	2000	2000	NUM
ajfa-93	38	39	)	)	PUNCT
ajfa-93	38	40	and	and	CCONJ
ajfa-93	38	41	a	a	DET
ajfa-93	38	42	few	few	ADJ
ajfa-93	38	43	have	have	AUX
ajfa-93	38	44	extended	extend	VERB
ajfa-93	38	45	this	this	PRON
ajfa-93	38	46	to	to	PART
ajfa-93	38	47	explore	explore	VERB
ajfa-93	38	48	the	the	DET
ajfa-93	38	49	association	association	NOUN
ajfa-93	38	50	between	between	ADP
ajfa-93	38	51	aspects	aspect	NOUN
ajfa-93	38	52	of	of	ADP
ajfa-93	38	53	corporate	corporate	ADJ
ajfa-93	38	54	governance	governance	NOUN
ajfa-93	38	55	and	and	CCONJ
ajfa-93	38	56	perceived	perceive	VERB
ajfa-93	38	57	credit	credit	NOUN
ajfa-93	38	58	risk	risk	NOUN
ajfa-93	38	59	and	and	CCONJ
ajfa-93	38	60	therefore	therefore	ADV
ajfa-93	38	61	cost	cost	NOUN
ajfa-93	38	62	of	of	ADP
ajfa-93	38	63	debt	debt	NOUN
ajfa-93	38	64	.	.	PUNCT
ajfa-93	39	1	(	(	PUNCT
ajfa-93	39	2	sengupta	sengupta	NOUN
ajfa-93	39	3	1998	1998	NUM
ajfa-93	39	4	;	;	PUNCT
ajfa-93	39	5	bhojraj	bhojraj	NOUN
ajfa-93	39	6	and	and	CCONJ
ajfa-93	39	7	sengupta	sengupta	NOUN
ajfa-93	39	8	2003	2003	NUM
ajfa-93	39	9	;	;	PUNCT
ajfa-93	39	10	gompers	gomper	NOUN
ajfa-93	39	11	,	,	PUNCT
ajfa-93	39	12	ishii	ishii	PROPN
ajfa-93	39	13	and	and	CCONJ
ajfa-93	39	14	metrick	metrick	ADJ
ajfa-93	39	15	2003	2003	NUM
ajfa-93	39	16	;	;	PUNCT
ajfa-93	39	17	ashbaugh	ashbaugh	NOUN
ajfa-93	39	18	-	-	PUNCT
ajfa-93	39	19	skaife	skaife	NOUN
ajfa-93	39	20	et	et	PROPN
ajfa-93	39	21	al	al	PROPN
ajfa-93	39	22	.	.	PROPN
ajfa-93	39	23	2006	2006	NUM
ajfa-93	39	24	,	,	PUNCT
ajfa-93	39	25	and	and	CCONJ
ajfa-93	39	26	anderson	anderson	PROPN
ajfa-93	39	27	et	et	PROPN
ajfa-93	39	28	al	al	PROPN
ajfa-93	39	29	.	.	PROPN
ajfa-93	39	30	2004	2004	NUM
ajfa-93	39	31	)	)	PUNCT
ajfa-93	39	32	s	s	PROPN
ajfa-93	39	33	&	&	CCONJ
ajfa-93	39	34	p	p	PROPN
ajfa-93	39	35	have	have	AUX
ajfa-93	39	36	described	describe	VERB
ajfa-93	39	37	their	their	PRON
ajfa-93	39	38	rating	rating	NOUN
ajfa-93	39	39	methodology	methodology	NOUN
ajfa-93	39	40	as	as	ADP
ajfa-93	39	41	encompassing	encompass	VERB
ajfa-93	39	42	four	four	NUM
ajfa-93	39	43	main	main	ADJ
ajfa-93	39	44	areas	area	NOUN
ajfa-93	39	45	:	:	PUNCT
ajfa-93	39	46	industry	industry	NOUN
ajfa-93	39	47	risk	risk	NOUN
ajfa-93	39	48	(	(	PUNCT
ajfa-93	39	49	operating	operating	NOUN
ajfa-93	39	50	risk	risk	NOUN
ajfa-93	39	51	)	)	PUNCT
ajfa-93	39	52	,	,	PUNCT
ajfa-93	39	53	business	business	NOUN
ajfa-93	39	54	risk	risk	NOUN
ajfa-93	39	55	(	(	PUNCT
ajfa-93	39	56	specific	specific	ADJ
ajfa-93	39	57	company	company	NOUN
ajfa-93	39	58	risk	risk	NOUN
ajfa-93	39	59	factors	factor	NOUN
ajfa-93	39	60	and	and	CCONJ
ajfa-93	39	61	keys	key	NOUN
ajfa-93	39	62	to	to	ADP
ajfa-93	39	63	success	success	NOUN
ajfa-93	39	64	)	)	PUNCT
ajfa-93	39	65	,	,	PUNCT
ajfa-93	39	66	financial	financial	ADJ
ajfa-93	39	67	risk	risk	NOUN
ajfa-93	39	68	(	(	PUNCT
ajfa-93	39	69	based	base	VERB
ajfa-93	39	70	on	on	ADP
ajfa-93	39	71	quantitative	quantitative	ADJ
ajfa-93	39	72	ratios	ratio	NOUN
ajfa-93	39	73	and	and	CCONJ
ajfa-93	39	74	a	a	DET
ajfa-93	39	75	qualitative	qualitative	ADJ
ajfa-93	39	76	review	review	NOUN
ajfa-93	39	77	of	of	ADP
ajfa-93	39	78	financial	financial	ADJ
ajfa-93	39	79	policy	policy	NOUN
ajfa-93	39	80	)	)	PUNCT
ajfa-93	39	81	and	and	CCONJ
ajfa-93	39	82	liquidity	liquidity	NOUN
ajfa-93	39	83	risk	risk	NOUN
ajfa-93	39	84	(	(	PUNCT
ajfa-93	39	85	financing	financing	NOUN
ajfa-93	39	86	needs	need	NOUN
ajfa-93	39	87	and	and	CCONJ
ajfa-93	39	88	cash	cash	NOUN
ajfa-93	39	89	flow	flow	NOUN
ajfa-93	39	90	)	)	PUNCT
ajfa-93	39	91	.	.	PUNCT
ajfa-93	40	1	3	3	NUM
ajfa-93	40	2	s	s	NOUN
ajfa-93	40	3	&	&	CCONJ
ajfa-93	40	4	p	p	NOUN
ajfa-93	40	5	describe	describe	VERB
ajfa-93	40	6	their	their	PRON
ajfa-93	40	7	ratings	rating	NOUN
ajfa-93	40	8	in	in	ADP
ajfa-93	40	9	the	the	DET
ajfa-93	40	10	introduction	introduction	NOUN
ajfa-93	40	11	to	to	ADP
ajfa-93	40	12	the	the	DET
ajfa-93	40	13	code	code	NOUN
ajfa-93	40	14	of	of	ADP
ajfa-93	40	15	practices	practice	NOUN
ajfa-93	40	16	and	and	CCONJ
ajfa-93	40	17	procedures	procedure	NOUN
ajfa-93	40	18	as	as	ADP
ajfa-93	40	19	“	"	PUNCT
ajfa-93	40	20	a	a	DET
ajfa-93	40	21	valuable	valuable	ADJ
ajfa-93	40	22	tool	tool	NOUN
ajfa-93	40	23	in	in	ADP
ajfa-93	40	24	the	the	DET
ajfa-93	40	25	global	global	ADJ
ajfa-93	40	26	capital	capital	NOUN
ajfa-93	40	27	markets	market	NOUN
ajfa-93	40	28	for	for	ADP
ajfa-93	40	29	the	the	DET
ajfa-93	40	30	evaluation	evaluation	NOUN
ajfa-93	40	31	and	and	CCONJ
ajfa-93	40	32	assessment	assessment	NOUN
ajfa-93	40	33	of	of	ADP
ajfa-93	40	34	credit	credit	NOUN
ajfa-93	40	35	risk	risk	NOUN
ajfa-93	40	36	.	.	PUNCT
ajfa-93	40	37	”	"	PUNCT
ajfa-93	41	1	research	research	NOUN
ajfa-93	41	2	has	have	AUX
ajfa-93	41	3	also	also	ADV
ajfa-93	41	4	suggested	suggest	VERB
ajfa-93	41	5	that	that	SCONJ
ajfa-93	41	6	firms	firm	NOUN
ajfa-93	41	7	may	may	AUX
ajfa-93	41	8	(	(	PUNCT
ajfa-93	41	9	successfully	successfully	ADV
ajfa-93	41	10	)	)	PUNCT
ajfa-93	41	11	use	use	VERB
ajfa-93	41	12	corporate	corporate	ADJ
ajfa-93	41	13	social	social	ADJ
ajfa-93	41	14	and	and	CCONJ
ajfa-93	41	15	environmental	environmental	ADJ
ajfa-93	41	16	(	(	PUNCT
ajfa-93	41	17	sustainability	sustainability	NOUN
ajfa-93	41	18	)	)	PUNCT
ajfa-93	41	19	reporting	report	VERB
ajfa-93	41	20	to	to	ADP
ajfa-93	41	21	“	"	PUNCT
ajfa-93	41	22	legitimise	legitimise	VERB
ajfa-93	41	23	various	various	ADJ
ajfa-93	41	24	aspects	aspect	NOUN
ajfa-93	41	25	of	of	ADP
ajfa-93	41	26	their	their	PRON
ajfa-93	41	27	respective	respective	ADJ
ajfa-93	41	28	organisations	organisation	NOUN
ajfa-93	41	29	”	"	PUNCT
ajfa-93	41	30	(	(	PUNCT
ajfa-93	41	31	deegan	deegan	PROPN
ajfa-93	41	32	(	(	PUNCT
ajfa-93	41	33	2002	2002	NUM
ajfa-93	41	34	)	)	PUNCT
ajfa-93	41	35	p.282	p.282	NOUN
ajfa-93	41	36	)	)	PUNCT
ajfa-93	41	37	.	.	PUNCT
ajfa-93	42	1	if	if	SCONJ
ajfa-93	42	2	the	the	DET
ajfa-93	42	3	motivation	motivation	NOUN
ajfa-93	42	4	for	for	ADP
ajfa-93	42	5	disclosing	disclose	VERB
ajfa-93	42	6	this	this	DET
ajfa-93	42	7	additional	additional	ADJ
ajfa-93	42	8	voluntary	voluntary	ADJ
ajfa-93	42	9	information	information	NOUN
ajfa-93	42	10	is	be	AUX
ajfa-93	42	11	to	to	PART
ajfa-93	42	12	increase	increase	VERB
ajfa-93	42	13	the	the	DET
ajfa-93	42	14	credibility	credibility	NOUN
ajfa-93	42	15	and	and	CCONJ
ajfa-93	42	16	enhance	enhance	VERB
ajfa-93	42	17	the	the	DET
ajfa-93	42	18	reputation	reputation	NOUN
ajfa-93	42	19	of	of	ADP
ajfa-93	42	20	the	the	DET
ajfa-93	42	21	management	management	NOUN
ajfa-93	42	22	of	of	ADP
ajfa-93	42	23	the	the	DET
ajfa-93	42	24	organisation	organisation	NOUN
ajfa-93	42	25	,	,	PUNCT
ajfa-93	42	26	then	then	ADV
ajfa-93	42	27	this	this	PRON
ajfa-93	42	28	should	should	AUX
ajfa-93	42	29	reduce	reduce	VERB
ajfa-93	42	30	the	the	DET
ajfa-93	42	31	perceived	perceive	VERB
ajfa-93	42	32	risk	risk	NOUN
ajfa-93	42	33	of	of	ADP
ajfa-93	42	34	that	that	DET
ajfa-93	42	35	organisation	organisation	NOUN
ajfa-93	42	36	from	from	ADP
ajfa-93	42	37	a	a	DET
ajfa-93	42	38	lender‟s	lender‟s	ADJ
ajfa-93	42	39	perspective	perspective	NOUN
ajfa-93	42	40	,	,	PUNCT
ajfa-93	42	41	if	if	SCONJ
ajfa-93	42	42	they	they	PRON
ajfa-93	42	43	accept	accept	VERB
ajfa-93	42	44	the	the	DET
ajfa-93	42	45	intended	intend	VERB
ajfa-93	42	46	message	message	NOUN
ajfa-93	42	47	.	.	PUNCT
ajfa-93	43	1	this	this	DET
ajfa-93	43	2	view	view	NOUN
ajfa-93	43	3	is	be	AUX
ajfa-93	43	4	further	far	ADV
ajfa-93	43	5	supported	support	VERB
ajfa-93	43	6	by	by	ADP
ajfa-93	43	7	research	research	NOUN
ajfa-93	43	8	suggesting	suggest	VERB
ajfa-93	43	9	that	that	SCONJ
ajfa-93	43	10	organisations	organisation	NOUN
ajfa-93	43	11	may	may	AUX
ajfa-93	43	12	use	use	VERB
ajfa-93	43	13	corporate	corporate	ADJ
ajfa-93	43	14	social	social	ADJ
ajfa-93	43	15	responsibility	responsibility	NOUN
ajfa-93	43	16	and	and	CCONJ
ajfa-93	43	17	sustainability	sustainability	NOUN
ajfa-93	43	18	reporting	reporting	NOUN
ajfa-93	43	19	as	as	ADP
ajfa-93	43	20	a	a	DET
ajfa-93	43	21	vehicle	vehicle	NOUN
ajfa-93	43	22	for	for	ADP
ajfa-93	43	23	reputation	reputation	NOUN
ajfa-93	43	24	risk	risk	NOUN
ajfa-93	43	25	management	management	NOUN
ajfa-93	43	26	(	(	PUNCT
ajfa-93	43	27	bebbington	bebbington	PROPN
ajfa-93	43	28	et.al	et.al	PROPN
ajfa-93	43	29	.	.	PUNCT
ajfa-93	44	1	(	(	PUNCT
ajfa-93	44	2	2008	2008	NUM
ajfa-93	44	3	)	)	PUNCT
ajfa-93	44	4	and	and	CCONJ
ajfa-93	44	5	commentary	commentary	NOUN
ajfa-93	44	6	by	by	ADP
ajfa-93	44	7	unerman	unerman	PROPN
ajfa-93	44	8	(	(	PUNCT
ajfa-93	44	9	2008	2008	NUM
ajfa-93	44	10	)	)	PUNCT
ajfa-93	44	11	)	)	PUNCT
ajfa-93	44	12	.	.	PUNCT
ajfa-93	45	1	schneider	schneider	NOUN
ajfa-93	45	2	(	(	PUNCT
ajfa-93	45	3	2008	2008	NUM
ajfa-93	45	4	)	)	PUNCT
ajfa-93	45	5	argues	argue	VERB
ajfa-93	45	6	that	that	SCONJ
ajfa-93	45	7	the	the	DET
ajfa-93	45	8	market	market	NOUN
ajfa-93	45	9	values	value	VERB
ajfa-93	45	10	a	a	DET
ajfa-93	45	11	firm‟s	firm‟s	NOUN
ajfa-93	45	12	environmental	environmental	ADJ
ajfa-93	45	13	performance	performance	NOUN
ajfa-93	45	14	in	in	ADP
ajfa-93	45	15	assessing	assess	VERB
ajfa-93	45	16	risk	risk	NOUN
ajfa-93	45	17	and	and	CCONJ
ajfa-93	45	18	a	a	DET
ajfa-93	45	19	firm‟s	firm‟s	NOUN
ajfa-93	45	20	cost	cost	NOUN
ajfa-93	45	21	of	of	ADP
ajfa-93	45	22	debt	debt	NOUN
ajfa-93	45	23	capital	capital	NOUN
ajfa-93	45	24	.	.	PUNCT
ajfa-93	46	1	again	again	ADV
ajfa-93	46	2	,	,	PUNCT
ajfa-93	46	3	agency	agency	NOUN
ajfa-93	46	4	theory	theory	NOUN
ajfa-93	46	5	is	be	AUX
ajfa-93	46	6	applicable	applicable	ADJ
ajfa-93	46	7	as	as	SCONJ
ajfa-93	46	8	the	the	DET
ajfa-93	46	9	debt	debt	NOUN
ajfa-93	46	10	market	market	NOUN
ajfa-93	46	11	may	may	AUX
ajfa-93	46	12	perceive	perceive	VERB
ajfa-93	46	13	a	a	DET
ajfa-93	46	14	proactive	proactive	ADJ
ajfa-93	46	15	environmental	environmental	ADJ
ajfa-93	46	16	strategy	strategy	NOUN
ajfa-93	46	17	as	as	ADP
ajfa-93	46	18	an	an	DET
ajfa-93	46	19	indication	indication	NOUN
ajfa-93	46	20	that	that	SCONJ
ajfa-93	46	21	management	management	NOUN
ajfa-93	46	22	are	be	AUX
ajfa-93	46	23	not	not	PART
ajfa-93	46	24	pursuing	pursue	VERB
ajfa-93	46	25	short	short	ADJ
ajfa-93	46	26	-	-	PUNCT
ajfa-93	46	27	term	term	NOUN
ajfa-93	46	28	profit	profit	NOUN
ajfa-93	46	29	strategies	strategy	NOUN
ajfa-93	46	30	for	for	ADP
ajfa-93	46	31	the	the	DET
ajfa-93	46	32	benefit	benefit	NOUN
ajfa-93	46	33	of	of	ADP
ajfa-93	46	34	shareholders	shareholder	NOUN
ajfa-93	46	35	at	at	ADP
ajfa-93	46	36	the	the	DET
ajfa-93	46	37	expense	expense	NOUN
ajfa-93	46	38	of	of	ADP
ajfa-93	46	39	bondholders	bondholder	NOUN
ajfa-93	46	40	.	.	PUNCT
ajfa-93	47	1	a	a	DET
ajfa-93	47	2	proactive	proactive	ADJ
ajfa-93	47	3	management	management	NOUN
ajfa-93	47	4	stance	stance	NOUN
ajfa-93	47	5	on	on	ADP
ajfa-93	47	6	sustainability	sustainability	NOUN
ajfa-93	47	7	issues	issue	NOUN
ajfa-93	47	8	could	could	AUX
ajfa-93	47	9	similarly	similarly	ADV
ajfa-93	47	10	be	be	AUX
ajfa-93	47	11	positively	positively	ADV
ajfa-93	47	12	interpreted	interpret	VERB
ajfa-93	47	13	.	.	PUNCT
ajfa-93	48	1	firms	firm	NOUN
ajfa-93	48	2	with	with	ADP
ajfa-93	48	3	superior	superior	ADJ
ajfa-93	48	4	sustainability	sustainability	NOUN
ajfa-93	48	5	may	may	AUX
ajfa-93	48	6	disclose	disclose	VERB
ajfa-93	48	7	more	more	ADJ
ajfa-93	48	8	information	information	NOUN
ajfa-93	48	9	about	about	ADP
ajfa-93	48	10	their	their	PRON
ajfa-93	48	11	sustainability	sustainability	NOUN
ajfa-93	48	12	to	to	PART
ajfa-93	48	13	differentiate	differentiate	VERB
ajfa-93	48	14	themselves	themselves	PRON
ajfa-93	48	15	from	from	ADP
ajfa-93	48	16	firms	firm	NOUN
ajfa-93	48	17	with	with	ADP
ajfa-93	48	18	inferior	inferior	ADJ
ajfa-93	48	19	sustainability	sustainability	NOUN
ajfa-93	48	20	.	.	PUNCT
ajfa-93	49	1	voluntary	voluntary	ADJ
ajfa-93	49	2	disclosure	disclosure	NOUN
ajfa-93	49	3	theory	theory	NOUN
ajfa-93	49	4	(	(	PUNCT
ajfa-93	49	5	see	see	VERB
ajfa-93	49	6	dye	dye	NOUN
ajfa-93	49	7	1985	1985	NUM
ajfa-93	49	8	)	)	PUNCT
ajfa-93	49	9	predicts	predict	VERB
ajfa-93	49	10	that	that	SCONJ
ajfa-93	49	11	high	high	ADJ
ajfa-93	49	12	quality	quality	NOUN
ajfa-93	49	13	companies	company	NOUN
ajfa-93	49	14	have	have	VERB
ajfa-93	49	15	incentives	incentive	NOUN
ajfa-93	49	16	to	to	PART
ajfa-93	49	17	report	report	VERB
ajfa-93	49	18	more	more	ADV
ajfa-93	49	19	extensively	extensively	ADV
ajfa-93	49	20	to	to	PART
ajfa-93	49	21	distinguish	distinguish	VERB
ajfa-93	49	22	themselves	themselves	PRON
ajfa-93	49	23	from	from	ADP
ajfa-93	49	24	lower	low	ADJ
ajfa-93	49	25	quality	quality	NOUN
ajfa-93	49	26	companies	company	NOUN
ajfa-93	49	27	.	.	PUNCT
ajfa-93	50	1	this	this	DET
ajfa-93	50	2	theory	theory	NOUN
ajfa-93	50	3	has	have	AUX
ajfa-93	50	4	been	be	AUX
ajfa-93	50	5	applied	apply	VERB
ajfa-93	50	6	to	to	ADP
ajfa-93	50	7	voluntary	voluntary	ADJ
ajfa-93	50	8	environmental	environmental	ADJ
ajfa-93	50	9	performance	performance	NOUN
ajfa-93	50	10	disclosure	disclosure	NOUN
ajfa-93	50	11	(	(	PUNCT
ajfa-93	50	12	clarkson	clarkson	PROPN
ajfa-93	50	13	et	et	PROPN
ajfa-93	50	14	al	al	PROPN
ajfa-93	50	15	.	.	PROPN
ajfa-93	51	1	(	(	PUNCT
ajfa-93	51	2	2008	2008	NUM
ajfa-93	51	3	)	)	PUNCT
ajfa-93	51	4	)	)	PUNCT
ajfa-93	51	5	.	.	PUNCT
ajfa-93	52	1	these	these	DET
ajfa-93	52	2	authors	author	NOUN
ajfa-93	52	3	demonstrate	demonstrate	VERB
ajfa-93	52	4	a	a	DET
ajfa-93	52	5	positive	positive	ADJ
ajfa-93	52	6	relationship	relationship	NOUN
ajfa-93	52	7	between	between	ADP
ajfa-93	52	8	environmental	environmental	ADJ
ajfa-93	52	9	performance	performance	NOUN
ajfa-93	52	10	per	per	ADP
ajfa-93	52	11	se	se	X
ajfa-93	52	12	and	and	CCONJ
ajfa-93	52	13	the	the	DET
ajfa-93	52	14	level	level	NOUN
ajfa-93	52	15	of	of	ADP
ajfa-93	52	16	voluntary	voluntary	ADJ
ajfa-93	52	17	environmental	environmental	ADJ
ajfa-93	52	18	disclosures	disclosure	NOUN
ajfa-93	52	19	.	.	PUNCT
ajfa-93	53	1	this	this	DET
ajfa-93	53	2	prior	prior	ADJ
ajfa-93	53	3	research	research	NOUN
ajfa-93	53	4	and	and	CCONJ
ajfa-93	53	5	theory	theory	NOUN
ajfa-93	53	6	suggests	suggest	VERB
ajfa-93	53	7	that	that	SCONJ
ajfa-93	53	8	2	2	NUM
ajfa-93	53	9	scleifer	scleifer	NOUN
ajfa-93	53	10	&	&	CCONJ
ajfa-93	53	11	vishny	vishny	PROPN
ajfa-93	53	12	(	(	PUNCT
ajfa-93	53	13	1997	1997	NUM
ajfa-93	53	14	)	)	PUNCT
ajfa-93	53	15	p.742	p.742	NOUN
ajfa-93	53	16	3presentation	3presentation	NUM
ajfa-93	53	17	made	make	VERB
ajfa-93	53	18	by	by	ADP
ajfa-93	53	19	chris	chris	PROPN
ajfa-93	53	20	dalton	dalton	PROPN
ajfa-93	53	21	,	,	PUNCT
ajfa-93	53	22	managing	managing	NOUN
ajfa-93	53	23	director	director	NOUN
ajfa-93	53	24	,	,	PUNCT
ajfa-93	53	25	standard	standard	PROPN
ajfa-93	53	26	&	&	CCONJ
ajfa-93	53	27	poor‟s	poor‟s	PROPN
ajfa-93	53	28	australia	australia	PROPN
ajfa-93	53	29	&	&	CCONJ
ajfa-93	53	30	new	new	PROPN
ajfa-93	53	31	zealand	zealand	PROPN
ajfa-93	53	32	,	,	PUNCT
ajfa-93	53	33	melbourne	melbourne	PROPN
ajfa-93	53	34	financial	financial	PROPN
ajfa-93	53	35	services	service	NOUN
ajfa-93	53	36	symposium	symposium	NOUN
ajfa-93	53	37	,	,	PUNCT
ajfa-93	53	38	wednesday	wednesday	PROPN
ajfa-93	53	39	17th	17th	PROPN
ajfa-93	53	40	march	march	PROPN
ajfa-93	53	41	2004	2004	NUM
ajfa-93	53	42	.	.	PUNCT
ajfa-93	54	1	asian	asian	ADJ
ajfa-93	54	2	journal	journal	PROPN
ajfa-93	54	3	of	of	ADP
ajfa-93	54	4	finance	finance	PROPN
ajfa-93	54	5	&	&	CCONJ
ajfa-93	54	6	accounting	accounting	PROPN
ajfa-93	54	7	issn	issn	PROPN
ajfa-93	54	8	1946	1946	NUM
ajfa-93	54	9	-	-	PUNCT
ajfa-93	54	10	052x	052x	NOUN
ajfa-93	54	11	200x	200x	NUM
ajfa-93	54	12	,	,	PUNCT
ajfa-93	54	13	vol	vol	NOUN
ajfa-93	54	14	.	.	PROPN
ajfa-93	54	15	1	1	NUM
ajfa-93	54	16	,	,	PUNCT
ajfa-93	54	17	no	no	INTJ
ajfa-93	54	18	.	.	NOUN
ajfa-93	54	19	1	1	NUM
ajfa-93	54	20	:	:	PUNCT
ajfa-93	54	21	e1	e1	VERB
ajfa-93	54	22	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-93	54	23	37	37	NUM
ajfa-93	54	24	voluntary	voluntary	ADJ
ajfa-93	54	25	sustainability	sustainability	NOUN
ajfa-93	54	26	reporting	reporting	NOUN
ajfa-93	54	27	can	can	AUX
ajfa-93	54	28	be	be	AUX
ajfa-93	54	29	used	use	VERB
ajfa-93	54	30	to	to	PART
ajfa-93	54	31	indicate	indicate	VERB
ajfa-93	54	32	underlying	underlie	VERB
ajfa-93	54	33	superior	superior	ADJ
ajfa-93	54	34	performance	performance	NOUN
ajfa-93	54	35	in	in	ADP
ajfa-93	54	36	sustainable	sustainable	ADJ
ajfa-93	54	37	practices	practice	NOUN
ajfa-93	54	38	.	.	PUNCT
ajfa-93	55	1	we	we	PRON
ajfa-93	55	2	use	use	VERB
ajfa-93	55	3	the	the	DET
ajfa-93	55	4	following	follow	VERB
ajfa-93	55	5	hypotheses	hypothesis	NOUN
ajfa-93	55	6	to	to	PART
ajfa-93	55	7	test	test	VERB
ajfa-93	55	8	the	the	DET
ajfa-93	55	9	relationships	relationship	NOUN
ajfa-93	55	10	between	between	ADP
ajfa-93	55	11	corporate	corporate	ADJ
ajfa-93	55	12	governance	governance	NOUN
ajfa-93	55	13	practices	practice	NOUN
ajfa-93	55	14	and	and	CCONJ
ajfa-93	55	15	sustainability	sustainability	NOUN
ajfa-93	55	16	disclosures	disclosure	NOUN
ajfa-93	55	17	found	find	VERB
ajfa-93	55	18	in	in	ADP
ajfa-93	55	19	annual	annual	ADJ
ajfa-93	55	20	reports	report	NOUN
ajfa-93	55	21	and	and	CCONJ
ajfa-93	55	22	assessed	assessed	ADJ
ajfa-93	55	23	default	default	NOUN
ajfa-93	55	24	risk	risk	NOUN
ajfa-93	55	25	in	in	ADP
ajfa-93	55	26	the	the	DET
ajfa-93	55	27	australian	australian	ADJ
ajfa-93	55	28	setting	setting	NOUN
ajfa-93	55	29	:	:	PUNCT
ajfa-93	55	30	h1	h1	VERB
ajfa-93	55	31	credit	credit	NOUN
ajfa-93	55	32	ratings	rating	NOUN
ajfa-93	55	33	are	be	AUX
ajfa-93	55	34	positively	positively	ADV
ajfa-93	55	35	related	relate	VERB
ajfa-93	55	36	to	to	ADP
ajfa-93	55	37	the	the	DET
ajfa-93	55	38	quality	quality	NOUN
ajfa-93	55	39	of	of	ADP
ajfa-93	55	40	corporate	corporate	ADJ
ajfa-93	55	41	governance	governance	NOUN
ajfa-93	55	42	practices	practice	NOUN
ajfa-93	55	43	h2	h2	NOUN
ajfa-93	55	44	credit	credit	NOUN
ajfa-93	55	45	ratings	rating	NOUN
ajfa-93	55	46	are	be	AUX
ajfa-93	55	47	positively	positively	ADV
ajfa-93	55	48	related	relate	VERB
ajfa-93	55	49	to	to	ADP
ajfa-93	55	50	the	the	DET
ajfa-93	55	51	voluntary	voluntary	ADJ
ajfa-93	55	52	disclosure	disclosure	NOUN
ajfa-93	55	53	of	of	ADP
ajfa-93	55	54	sustainability	sustainability	NOUN
ajfa-93	55	55	information	information	NOUN
ajfa-93	55	56	the	the	DET
ajfa-93	55	57	methodology	methodology	NOUN
ajfa-93	55	58	used	use	VERB
ajfa-93	55	59	to	to	PART
ajfa-93	55	60	test	test	VERB
ajfa-93	55	61	these	these	DET
ajfa-93	55	62	hypotheses	hypothesis	NOUN
ajfa-93	55	63	is	be	AUX
ajfa-93	55	64	described	describe	VERB
ajfa-93	55	65	in	in	ADP
ajfa-93	55	66	the	the	DET
ajfa-93	55	67	next	next	ADJ
ajfa-93	55	68	section	section	NOUN
ajfa-93	55	69	.	.	PUNCT
ajfa-93	56	1	for	for	ADP
ajfa-93	56	2	the	the	DET
ajfa-93	56	3	purposes	purpose	NOUN
ajfa-93	56	4	of	of	ADP
ajfa-93	56	5	this	this	DET
ajfa-93	56	6	paper	paper	NOUN
ajfa-93	56	7	quality	quality	NOUN
ajfa-93	56	8	of	of	ADP
ajfa-93	56	9	corporate	corporate	ADJ
ajfa-93	56	10	governance	governance	NOUN
ajfa-93	56	11	is	be	AUX
ajfa-93	56	12	defined	define	VERB
ajfa-93	56	13	as	as	ADP
ajfa-93	56	14	a	a	DET
ajfa-93	56	15	high	high	ADJ
ajfa-93	56	16	score	score	NOUN
ajfa-93	56	17	on	on	ADP
ajfa-93	56	18	our	our	PRON
ajfa-93	56	19	corporate	corporate	ADJ
ajfa-93	56	20	governance	governance	NOUN
ajfa-93	56	21	index	index	NOUN
ajfa-93	56	22	.	.	PUNCT
ajfa-93	57	1	the	the	DET
ajfa-93	57	2	quality	quality	NOUN
ajfa-93	57	3	of	of	ADP
ajfa-93	57	4	sustainability	sustainability	NOUN
ajfa-93	57	5	disclosures	disclosure	NOUN
ajfa-93	57	6	is	be	AUX
ajfa-93	57	7	not	not	PART
ajfa-93	57	8	measured	measure	VERB
ajfa-93	57	9	directly	directly	ADV
ajfa-93	57	10	;	;	PUNCT
ajfa-93	57	11	instead	instead	ADV
ajfa-93	57	12	the	the	DET
ajfa-93	57	13	volume	volume	NOUN
ajfa-93	57	14	of	of	ADP
ajfa-93	57	15	sustainability	sustainability	NOUN
ajfa-93	57	16	or	or	CCONJ
ajfa-93	57	17	csr	csr	NOUN
ajfa-93	57	18	information	information	NOUN
ajfa-93	57	19	(	(	PUNCT
ajfa-93	57	20	as	as	SCONJ
ajfa-93	57	21	identified	identify	VERB
ajfa-93	57	22	by	by	ADP
ajfa-93	57	23	the	the	DET
ajfa-93	57	24	firm	firm	NOUN
ajfa-93	57	25	)	)	PUNCT
ajfa-93	57	26	disclosed	disclose	VERB
ajfa-93	57	27	in	in	ADP
ajfa-93	57	28	the	the	DET
ajfa-93	57	29	annual	annual	ADJ
ajfa-93	57	30	report	report	NOUN
ajfa-93	57	31	or	or	CCONJ
ajfa-93	57	32	as	as	SCONJ
ajfa-93	57	33	a	a	DET
ajfa-93	57	34	separate	separate	ADJ
ajfa-93	57	35	statement	statement	NOUN
ajfa-93	57	36	is	be	AUX
ajfa-93	57	37	used	use	VERB
ajfa-93	57	38	as	as	ADP
ajfa-93	57	39	the	the	DET
ajfa-93	57	40	proxy	proxy	NOUN
ajfa-93	57	41	,	,	PUNCT
ajfa-93	57	42	given	give	VERB
ajfa-93	57	43	that	that	SCONJ
ajfa-93	57	44	any	any	DET
ajfa-93	57	45	disclosure	disclosure	NOUN
ajfa-93	57	46	on	on	ADP
ajfa-93	57	47	this	this	DET
ajfa-93	57	48	issue	issue	NOUN
ajfa-93	57	49	is	be	AUX
ajfa-93	57	50	voluntary	voluntary	ADJ
ajfa-93	57	51	.	.	PUNCT
ajfa-93	58	1	the	the	DET
ajfa-93	58	2	methodology	methodology	NOUN
ajfa-93	58	3	section	section	NOUN
ajfa-93	58	4	is	be	AUX
ajfa-93	58	5	followed	follow	VERB
ajfa-93	58	6	by	by	ADP
ajfa-93	58	7	the	the	DET
ajfa-93	58	8	results	result	NOUN
ajfa-93	58	9	of	of	ADP
ajfa-93	58	10	our	our	PRON
ajfa-93	58	11	analysis	analysis	NOUN
ajfa-93	58	12	and	and	CCONJ
ajfa-93	58	13	conclusions	conclusion	NOUN
ajfa-93	58	14	.	.	PUNCT
ajfa-93	59	1	2	2	X
ajfa-93	59	2	.	.	X
ajfa-93	59	3	methodology	methodology	NOUN
ajfa-93	59	4	2.1	2.1	NUM
ajfa-93	59	5	development	development	NOUN
ajfa-93	59	6	of	of	ADP
ajfa-93	59	7	a	a	DET
ajfa-93	59	8	corporate	corporate	ADJ
ajfa-93	59	9	governance	governance	NOUN
ajfa-93	59	10	index	index	NOUN
ajfa-93	59	11	a	a	DET
ajfa-93	59	12	corporate	corporate	ADJ
ajfa-93	59	13	governance	governance	NOUN
ajfa-93	59	14	index	index	NOUN
ajfa-93	59	15	based	base	VERB
ajfa-93	59	16	on	on	ADP
ajfa-93	59	17	annual	annual	ADJ
ajfa-93	59	18	report	report	NOUN
ajfa-93	59	19	disclosures	disclosure	NOUN
ajfa-93	59	20	was	be	AUX
ajfa-93	59	21	developed	develop	VERB
ajfa-93	59	22	to	to	PART
ajfa-93	59	23	rate	rate	VERB
ajfa-93	59	24	each	each	DET
ajfa-93	59	25	company‟s	company‟s	ADJ
ajfa-93	59	26	corporate	corporate	ADJ
ajfa-93	59	27	governance	governance	NOUN
ajfa-93	59	28	quality	quality	NOUN
ajfa-93	59	29	.	.	PUNCT
ajfa-93	60	1	derivation	derivation	NOUN
ajfa-93	60	2	of	of	ADP
ajfa-93	60	3	this	this	DET
ajfa-93	60	4	index	index	NOUN
ajfa-93	60	5	was	be	AUX
ajfa-93	60	6	centred	centre	VERB
ajfa-93	60	7	on	on	ADP
ajfa-93	60	8	corporate	corporate	ADJ
ajfa-93	60	9	governance	governance	NOUN
ajfa-93	60	10	indicators	indicator	NOUN
ajfa-93	60	11	suggested	suggest	VERB
ajfa-93	60	12	by	by	ADP
ajfa-93	60	13	prior	prior	ADJ
ajfa-93	60	14	research	research	NOUN
ajfa-93	60	15	and	and	CCONJ
ajfa-93	60	16	best	good	ADJ
ajfa-93	60	17	practice	practice	NOUN
ajfa-93	60	18	,	,	PUNCT
ajfa-93	60	19	such	such	ADJ
ajfa-93	60	20	as	as	ADP
ajfa-93	60	21	the	the	DET
ajfa-93	60	22	australian	australian	ADJ
ajfa-93	60	23	stock	stock	NOUN
ajfa-93	60	24	exchange	exchange	NOUN
ajfa-93	60	25	“	"	PUNCT
ajfa-93	60	26	principles	principle	NOUN
ajfa-93	60	27	of	of	ADP
ajfa-93	60	28	good	good	ADJ
ajfa-93	60	29	corporate	corporate	ADJ
ajfa-93	60	30	governance	governance	NOUN
ajfa-93	60	31	and	and	CCONJ
ajfa-93	60	32	best	good	ADJ
ajfa-93	60	33	practice	practice	NOUN
ajfa-93	60	34	recommendations	recommendation	NOUN
ajfa-93	60	35	”	"	PUNCT
ajfa-93	60	36	(	(	PUNCT
ajfa-93	60	37	asx	asx	NOUN
ajfa-93	60	38	principles	principle	NOUN
ajfa-93	60	39	)	)	PUNCT
ajfa-93	60	40	.	.	PUNCT
ajfa-93	61	1	table	table	NOUN
ajfa-93	61	2	1	1	NUM
ajfa-93	61	3	summarises	summarise	VERB
ajfa-93	61	4	the	the	DET
ajfa-93	61	5	corporate	corporate	ADJ
ajfa-93	61	6	governance	governance	NOUN
ajfa-93	61	7	index	index	NOUN
ajfa-93	61	8	.	.	PUNCT
ajfa-93	62	1	the	the	DET
ajfa-93	62	2	maximum	maximum	ADJ
ajfa-93	62	3	possible	possible	ADJ
ajfa-93	62	4	score	score	NOUN
ajfa-93	62	5	was	be	AUX
ajfa-93	62	6	26	26	NUM
ajfa-93	62	7	(	(	PUNCT
ajfa-93	62	8	7	7	NUM
ajfa-93	62	9	disclosure	disclosure	NOUN
ajfa-93	62	10	,	,	PUNCT
ajfa-93	62	11	15	15	NUM
ajfa-93	62	12	independence	independence	NOUN
ajfa-93	62	13	,	,	PUNCT
ajfa-93	62	14	2	2	NUM
ajfa-93	62	15	external	external	ADJ
ajfa-93	62	16	audit	audit	NOUN
ajfa-93	62	17	,	,	PUNCT
ajfa-93	62	18	2	2	NUM
ajfa-93	62	19	procedures	procedure	NOUN
ajfa-93	62	20	)	)	PUNCT
ajfa-93	62	21	.	.	PUNCT
ajfa-93	63	1	each	each	DET
ajfa-93	63	2	company‟s	company‟s	ADJ
ajfa-93	63	3	corporate	corporate	ADJ
ajfa-93	63	4	governance	governance	NOUN
ajfa-93	63	5	score	score	NOUN
ajfa-93	63	6	(	(	PUNCT
ajfa-93	63	7	cgscore	cgscore	NOUN
ajfa-93	63	8	)	)	PUNCT
ajfa-93	63	9	was	be	AUX
ajfa-93	63	10	calculated	calculate	VERB
ajfa-93	63	11	by	by	ADP
ajfa-93	63	12	dividing	divide	VERB
ajfa-93	63	13	their	their	PRON
ajfa-93	63	14	total	total	ADJ
ajfa-93	63	15	score	score	NOUN
ajfa-93	63	16	by	by	ADP
ajfa-93	63	17	this	this	DET
ajfa-93	63	18	maximum	maximum	ADJ
ajfa-93	63	19	possible	possible	ADJ
ajfa-93	63	20	score	score	NOUN
ajfa-93	63	21	,	,	PUNCT
ajfa-93	63	22	to	to	PART
ajfa-93	63	23	express	express	VERB
ajfa-93	63	24	it	it	PRON
ajfa-93	63	25	as	as	ADP
ajfa-93	63	26	a	a	DET
ajfa-93	63	27	proportion	proportion	NOUN
ajfa-93	63	28	for	for	ADP
ajfa-93	63	29	ease	ease	NOUN
ajfa-93	63	30	of	of	ADP
ajfa-93	63	31	comparability	comparability	NOUN
ajfa-93	63	32	4	4	NUM
ajfa-93	63	33	.	.	PUNCT
ajfa-93	64	1	table	table	NOUN
ajfa-93	64	2	1	1	NUM
ajfa-93	64	3	–	–	PUNCT
ajfa-93	64	4	corporate	corporate	ADJ
ajfa-93	64	5	governance	governance	NOUN
ajfa-93	64	6	index	index	NOUN
ajfa-93	64	7	disclosure	disclosure	NOUN
ajfa-93	64	8	maximum	maximum	ADP
ajfa-93	64	9	the	the	DET
ajfa-93	64	10	annual	annual	ADJ
ajfa-93	64	11	statements	statement	NOUN
ajfa-93	64	12	contain	contain	VERB
ajfa-93	64	13	a	a	DET
ajfa-93	64	14	statement	statement	NOUN
ajfa-93	64	15	addressing	address	VERB
ajfa-93	64	16	corporate	corporate	ADJ
ajfa-93	64	17	governance	governance	NOUN
ajfa-93	64	18	.	.	PUNCT
ajfa-93	65	1	1	1	NUM
ajfa-93	65	2	or	or	CCONJ
ajfa-93	65	3	0	0	NUM
ajfa-93	65	4	1	1	NUM
ajfa-93	65	5	reference	reference	NOUN
ajfa-93	65	6	is	be	AUX
ajfa-93	65	7	made	make	VERB
ajfa-93	65	8	to	to	ADP
ajfa-93	65	9	the	the	DET
ajfa-93	65	10	asx	asx	NOUN
ajfa-93	65	11	corporate	corporate	ADJ
ajfa-93	65	12	governance	governance	NOUN
ajfa-93	65	13	principles	principle	NOUN
ajfa-93	65	14	1	1	NUM
ajfa-93	65	15	or	or	CCONJ
ajfa-93	65	16	0	0	NUM
ajfa-93	65	17	1	1	NUM
ajfa-93	65	18	an	an	DET
ajfa-93	65	19	assessment	assessment	NOUN
ajfa-93	65	20	is	be	AUX
ajfa-93	65	21	made	make	VERB
ajfa-93	65	22	regarding	regard	VERB
ajfa-93	65	23	current	current	ADJ
ajfa-93	65	24	compliance	compliance	NOUN
ajfa-93	65	25	with	with	ADP
ajfa-93	65	26	the	the	DET
ajfa-93	65	27	asx	asx	NOUN
ajfa-93	65	28	principles	principle	NOUN
ajfa-93	65	29	1	1	NUM
ajfa-93	65	30	for	for	ADP
ajfa-93	65	31	a	a	DET
ajfa-93	65	32	general	general	ADJ
ajfa-93	65	33	overview	overview	NOUN
ajfa-93	65	34	2	2	NUM
ajfa-93	65	35	if	if	SCONJ
ajfa-93	65	36	the	the	DET
ajfa-93	65	37	review	review	NOUN
ajfa-93	65	38	is	be	AUX
ajfa-93	65	39	detailed	detail	VERB
ajfa-93	65	40	2	2	NUM
ajfa-93	65	41	the	the	DET
ajfa-93	65	42	qualifications	qualification	NOUN
ajfa-93	65	43	of	of	ADP
ajfa-93	65	44	the	the	DET
ajfa-93	65	45	board	board	NOUN
ajfa-93	65	46	members	member	NOUN
ajfa-93	65	47	are	be	AUX
ajfa-93	65	48	disclosed	disclose	VERB
ajfa-93	65	49	1	1	NUM
ajfa-93	65	50	or	or	CCONJ
ajfa-93	65	51	0	0	NUM
ajfa-93	65	52	1	1	NUM
ajfa-93	65	53	4	4	NUM
ajfa-93	65	54	as	as	ADP
ajfa-93	65	55	an	an	DET
ajfa-93	65	56	additional	additional	ADJ
ajfa-93	65	57	check	check	NOUN
ajfa-93	65	58	,	,	PUNCT
ajfa-93	65	59	the	the	DET
ajfa-93	65	60	models	model	NOUN
ajfa-93	65	61	were	be	AUX
ajfa-93	65	62	also	also	ADV
ajfa-93	65	63	computed	compute	VERB
ajfa-93	65	64	using	use	VERB
ajfa-93	65	65	the	the	DET
ajfa-93	65	66	raw	raw	ADJ
ajfa-93	65	67	corporate	corporate	ADJ
ajfa-93	65	68	governance	governance	NOUN
ajfa-93	65	69	scores	score	NOUN
ajfa-93	65	70	(	(	PUNCT
ajfa-93	65	71	not	not	PART
ajfa-93	65	72	scaling	scale	VERB
ajfa-93	65	73	by	by	ADP
ajfa-93	65	74	26	26	NUM
ajfa-93	65	75	)	)	PUNCT
ajfa-93	65	76	and	and	CCONJ
ajfa-93	65	77	this	this	PRON
ajfa-93	65	78	made	make	VERB
ajfa-93	65	79	no	no	DET
ajfa-93	65	80	impact	impact	NOUN
ajfa-93	65	81	on	on	ADP
ajfa-93	65	82	the	the	DET
ajfa-93	65	83	correlation	correlation	NOUN
ajfa-93	65	84	or	or	CCONJ
ajfa-93	65	85	regression	regression	NOUN
ajfa-93	65	86	results	result	NOUN
ajfa-93	65	87	.	.	PUNCT
ajfa-93	66	1	asian	asian	ADJ
ajfa-93	66	2	journal	journal	PROPN
ajfa-93	66	3	of	of	ADP
ajfa-93	66	4	finance	finance	PROPN
ajfa-93	66	5	&	&	CCONJ
ajfa-93	66	6	accounting	accounting	PROPN
ajfa-93	66	7	issn	issn	PROPN
ajfa-93	66	8	1946	1946	NUM
ajfa-93	66	9	-	-	PUNCT
ajfa-93	66	10	052x	052x	NOUN
ajfa-93	66	11	200x	200x	NUM
ajfa-93	66	12	,	,	PUNCT
ajfa-93	66	13	vol	vol	NOUN
ajfa-93	66	14	.	.	PROPN
ajfa-93	66	15	1	1	NUM
ajfa-93	66	16	,	,	PUNCT
ajfa-93	66	17	no	no	INTJ
ajfa-93	66	18	.	.	NOUN
ajfa-93	66	19	1	1	NUM
ajfa-93	66	20	:	:	PUNCT
ajfa-93	66	21	e1	e1	VERB
ajfa-93	66	22	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-93	66	23	38	38	NUM
ajfa-93	66	24	table	table	NOUN
ajfa-93	66	25	1	1	NUM
ajfa-93	66	26	continued	continue	VERB
ajfa-93	66	27	…	…	PUNCT
ajfa-93	66	28	the	the	DET
ajfa-93	66	29	relevant	relevant	ADJ
ajfa-93	66	30	experience	experience	NOUN
ajfa-93	66	31	of	of	ADP
ajfa-93	66	32	the	the	DET
ajfa-93	66	33	board	board	NOUN
ajfa-93	66	34	members	member	NOUN
ajfa-93	66	35	is	be	AUX
ajfa-93	66	36	disclosed	disclose	VERB
ajfa-93	66	37	1	1	NUM
ajfa-93	66	38	or	or	CCONJ
ajfa-93	66	39	0	0	NUM
ajfa-93	66	40	1	1	NUM
ajfa-93	67	1	members‟	members‟	NOUN
ajfa-93	67	2	attendance	attendance	NOUN
ajfa-93	67	3	at	at	ADP
ajfa-93	67	4	meetings	meeting	NOUN
ajfa-93	67	5	is	be	AUX
ajfa-93	67	6	disclosed	disclose	VERB
ajfa-93	67	7	1	1	NUM
ajfa-93	67	8	or	or	CCONJ
ajfa-93	67	9	0	0	NUM
ajfa-93	67	10	1	1	NUM
ajfa-93	67	11	total	total	ADJ
ajfa-93	67	12	disclosure	disclosure	NOUN
ajfa-93	67	13	7	7	NUM
ajfa-93	67	14	independence	independence	NOUN
ajfa-93	67	15	ceo	ceo	NOUN
ajfa-93	67	16	not	not	PART
ajfa-93	67	17	same	same	ADJ
ajfa-93	67	18	person	person	NOUN
ajfa-93	67	19	as	as	ADP
ajfa-93	67	20	board	board	NOUN
ajfa-93	67	21	chairman	chairman	NOUN
ajfa-93	67	22	1	1	NUM
ajfa-93	67	23	or	or	CCONJ
ajfa-93	67	24	1	1	NUM
ajfa-93	67	25	board	board	NOUN
ajfa-93	67	26	board	board	NOUN
ajfa-93	67	27	size	size	NOUN
ajfa-93	67	28	(	(	PUNCT
ajfa-93	67	29	average	average	ADJ
ajfa-93	67	30	membership	membership	NOUN
ajfa-93	67	31	)	)	PUNCT
ajfa-93	67	32	noted	note	VERB
ajfa-93	67	33	only	only	ADJ
ajfa-93	67	34	proportion	proportion	NOUN
ajfa-93	67	35	non	non	ADJ
ajfa-93	67	36	-	-	ADJ
ajfa-93	67	37	executive	executive	ADJ
ajfa-93	67	38	members	member	NOUN
ajfa-93	67	39	x/1	x/1	PROPN
ajfa-93	67	40	1	1	NUM
ajfa-93	67	41	proportion	proportion	NOUN
ajfa-93	67	42	of	of	ADP
ajfa-93	67	43	independent	independent	ADJ
ajfa-93	67	44	members	member	NOUN
ajfa-93	67	45	x/1	x/1	PROPN
ajfa-93	67	46	1	1	NUM
ajfa-93	67	47	independent	independent	ADJ
ajfa-93	67	48	chairperson	chairperson	NOUN
ajfa-93	67	49	1	1	NUM
ajfa-93	67	50	or	or	CCONJ
ajfa-93	67	51	0	0	NUM
ajfa-93	67	52	1	1	NUM
ajfa-93	67	53	number	number	NOUN
ajfa-93	67	54	of	of	ADP
ajfa-93	67	55	meetings	meeting	NOUN
ajfa-93	67	56	during	during	ADP
ajfa-93	67	57	year	year	NOUN
ajfa-93	67	58	:	:	PUNCT
ajfa-93	67	59	six	six	NUM
ajfa-93	67	60	or	or	CCONJ
ajfa-93	67	61	more	more	ADV
ajfa-93	67	62	less	less	ADJ
ajfa-93	67	63	than	than	ADP
ajfa-93	67	64	6	6	NUM
ajfa-93	67	65	not	not	PART
ajfa-93	67	66	disclosed	disclose	VERB
ajfa-93	67	67	1	1	NUM
ajfa-93	67	68	point	point	NOUN
ajfa-93	67	69	0	0	NUM
ajfa-93	67	70	points	point	NOUN
ajfa-93	67	71	0	0	NUM
ajfa-93	67	72	points	point	NOUN
ajfa-93	67	73	1	1	NUM
ajfa-93	67	74	audit	audit	NOUN
ajfa-93	67	75	committee	committee	NOUN
ajfa-93	67	76	committee	committee	NOUN
ajfa-93	67	77	size	size	NOUN
ajfa-93	67	78	(	(	PUNCT
ajfa-93	67	79	average	average	ADJ
ajfa-93	67	80	membership	membership	NOUN
ajfa-93	67	81	)	)	PUNCT
ajfa-93	67	82	noted	note	VERB
ajfa-93	67	83	only	only	ADJ
ajfa-93	67	84	proportion	proportion	NOUN
ajfa-93	67	85	non	non	ADJ
ajfa-93	67	86	-	-	ADJ
ajfa-93	67	87	executive	executive	ADJ
ajfa-93	67	88	members	member	NOUN
ajfa-93	67	89	x/1	x/1	PROPN
ajfa-93	67	90	1	1	NUM
ajfa-93	67	91	proportion	proportion	NOUN
ajfa-93	67	92	of	of	ADP
ajfa-93	67	93	independent	independent	ADJ
ajfa-93	67	94	members	member	NOUN
ajfa-93	67	95	x/1	x/1	PROPN
ajfa-93	67	96	1	1	NUM
ajfa-93	67	97	independent	independent	ADJ
ajfa-93	67	98	chairperson	chairperson	NOUN
ajfa-93	67	99	1	1	NUM
ajfa-93	67	100	or	or	CCONJ
ajfa-93	67	101	0	0	NUM
ajfa-93	67	102	1	1	NUM
ajfa-93	67	103	number	number	NOUN
ajfa-93	67	104	of	of	ADP
ajfa-93	67	105	meetings	meeting	NOUN
ajfa-93	67	106	during	during	ADP
ajfa-93	67	107	year	year	NOUN
ajfa-93	67	108	:	:	PUNCT
ajfa-93	67	109	four	four	NUM
ajfa-93	67	110	or	or	CCONJ
ajfa-93	67	111	more	more	ADV
ajfa-93	67	112	less	less	ADJ
ajfa-93	67	113	than	than	ADP
ajfa-93	67	114	4	4	NUM
ajfa-93	67	115	not	not	PART
ajfa-93	67	116	disclosed	disclose	VERB
ajfa-93	67	117	1	1	NUM
ajfa-93	67	118	point	point	NOUN
ajfa-93	67	119	0	0	NUM
ajfa-93	67	120	points	point	NOUN
ajfa-93	67	121	0	0	NUM
ajfa-93	67	122	points	point	NOUN
ajfa-93	67	123	1	1	NUM
ajfa-93	67	124	remuneration	remuneration	NOUN
ajfa-93	67	125	committee	committee	NOUN
ajfa-93	67	126	committee	committee	NOUN
ajfa-93	67	127	size	size	NOUN
ajfa-93	67	128	(	(	PUNCT
ajfa-93	67	129	average	average	ADJ
ajfa-93	67	130	membership	membership	NOUN
ajfa-93	67	131	)	)	PUNCT
ajfa-93	67	132	noted	note	VERB
ajfa-93	67	133	only	only	ADJ
ajfa-93	67	134	proportion	proportion	NOUN
ajfa-93	67	135	non	non	ADJ
ajfa-93	67	136	-	-	ADJ
ajfa-93	67	137	executive	executive	ADJ
ajfa-93	67	138	members	member	NOUN
ajfa-93	67	139	x/1	x/1	PROPN
ajfa-93	67	140	,	,	PUNCT
ajfa-93	67	141	zero	zero	NUM
ajfa-93	67	142	if	if	SCONJ
ajfa-93	67	143	no	no	DET
ajfa-93	67	144	committee	committee	NOUN
ajfa-93	67	145	1	1	NUM
ajfa-93	67	146	proportion	proportion	NOUN
ajfa-93	67	147	of	of	ADP
ajfa-93	67	148	independent	independent	ADJ
ajfa-93	67	149	members	member	NOUN
ajfa-93	67	150	x/1	x/1	NUM
ajfa-93	67	151	,	,	PUNCT
ajfa-93	67	152	zero	zero	NUM
ajfa-93	67	153	if	if	SCONJ
ajfa-93	67	154	no	no	DET
ajfa-93	67	155	committee	committee	NOUN
ajfa-93	67	156	1	1	NUM
ajfa-93	67	157	independent	independent	ADJ
ajfa-93	67	158	chairperson	chairperson	NOUN
ajfa-93	67	159	1	1	NUM
ajfa-93	67	160	or	or	CCONJ
ajfa-93	67	161	0	0	NUM
ajfa-93	67	162	1	1	NUM
ajfa-93	67	163	nomination	nomination	NOUN
ajfa-93	67	164	committee	committee	NOUN
ajfa-93	67	165	committee	committee	PROPN
ajfa-93	67	166	size	size	NOUN
ajfa-93	67	167	(	(	PUNCT
ajfa-93	67	168	average	average	ADJ
ajfa-93	67	169	membership	membership	NOUN
ajfa-93	67	170	)	)	PUNCT
ajfa-93	67	171	noted	note	VERB
ajfa-93	67	172	only	only	ADJ
ajfa-93	67	173	proportion	proportion	NOUN
ajfa-93	67	174	non	non	ADJ
ajfa-93	67	175	-	-	ADJ
ajfa-93	67	176	executive	executive	ADJ
ajfa-93	67	177	members	member	NOUN
ajfa-93	67	178	x/1	x/1	PROPN
ajfa-93	67	179	,	,	PUNCT
ajfa-93	67	180	zero	zero	NUM
ajfa-93	67	181	if	if	SCONJ
ajfa-93	67	182	no	no	DET
ajfa-93	67	183	committee	committee	NOUN
ajfa-93	67	184	1	1	NUM
ajfa-93	67	185	proportion	proportion	NOUN
ajfa-93	67	186	of	of	ADP
ajfa-93	67	187	independent	independent	ADJ
ajfa-93	67	188	members	member	NOUN
ajfa-93	67	189	x/1	x/1	NUM
ajfa-93	67	190	,	,	PUNCT
ajfa-93	67	191	zero	zero	NUM
ajfa-93	67	192	if	if	SCONJ
ajfa-93	67	193	no	no	DET
ajfa-93	67	194	committee	committee	NOUN
ajfa-93	67	195	1	1	NUM
ajfa-93	67	196	independent	independent	ADJ
ajfa-93	67	197	chairperson	chairperson	NOUN
ajfa-93	67	198	1	1	NUM
ajfa-93	67	199	or	or	CCONJ
ajfa-93	67	200	0	0	NUM
ajfa-93	67	201	1	1	NUM
ajfa-93	67	202	total	total	ADJ
ajfa-93	67	203	independence	independence	NOUN
ajfa-93	67	204	15	15	NUM
ajfa-93	67	205	external	external	ADJ
ajfa-93	67	206	audit	audit	NOUN
ajfa-93	67	207	„	„	PUNCT
ajfa-93	67	208	big	big	ADJ
ajfa-93	67	209	four‟	four‟	NOUN
ajfa-93	67	210	audit	audit	NOUN
ajfa-93	67	211	1	1	NUM
ajfa-93	67	212	or	or	CCONJ
ajfa-93	67	213	0	0	NUM
ajfa-93	67	214	1	1	NUM
ajfa-93	67	215	proportion	proportion	NOUN
ajfa-93	67	216	of	of	ADP
ajfa-93	67	217	audit	audit	NOUN
ajfa-93	67	218	/	/	SYM
ajfa-93	67	219	other	other	ADJ
ajfa-93	67	220	fees	fee	NOUN
ajfa-93	67	221	x/1	x/1	PROPN
ajfa-93	68	1	1	1	NUM
ajfa-93	68	2	total	total	ADJ
ajfa-93	68	3	exteranal	exteranal	ADJ
ajfa-93	68	4	audit	audit	NOUN
ajfa-93	68	5	2	2	NUM
ajfa-93	68	6	asian	asian	ADJ
ajfa-93	68	7	journal	journal	NOUN
ajfa-93	68	8	of	of	ADP
ajfa-93	68	9	finance	finance	PROPN
ajfa-93	68	10	&	&	CCONJ
ajfa-93	68	11	accounting	accounting	PROPN
ajfa-93	68	12	issn	issn	PROPN
ajfa-93	68	13	1946	1946	NUM
ajfa-93	68	14	-	-	PUNCT
ajfa-93	68	15	052x	052x	NOUN
ajfa-93	68	16	200x	200x	NUM
ajfa-93	68	17	,	,	PUNCT
ajfa-93	68	18	vol	vol	NOUN
ajfa-93	68	19	.	.	PROPN
ajfa-93	68	20	1	1	NUM
ajfa-93	68	21	,	,	PUNCT
ajfa-93	68	22	no	no	INTJ
ajfa-93	68	23	.	.	NOUN
ajfa-93	68	24	1	1	NUM
ajfa-93	68	25	:	:	PUNCT
ajfa-93	68	26	e1	e1	VERB
ajfa-93	68	27	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-93	68	28	39	39	NUM
ajfa-93	68	29	table	table	NOUN
ajfa-93	68	30	1	1	NUM
ajfa-93	68	31	continued	continued	ADJ
ajfa-93	68	32	…	…	PUNCT
ajfa-93	68	33	procedures	procedure	NOUN
ajfa-93	68	34	role	role	NOUN
ajfa-93	68	35	/	/	SYM
ajfa-93	68	36	duties	duty	NOUN
ajfa-93	68	37	of	of	ADP
ajfa-93	68	38	board	board	NOUN
ajfa-93	68	39	clear	clear	ADJ
ajfa-93	68	40	(	(	PUNCT
ajfa-93	68	41	e.g.	e.g.	ADV
ajfa-93	68	42	charter	charter	NOUN
ajfa-93	68	43	)	)	PUNCT
ajfa-93	68	44	1	1	NUM
ajfa-93	68	45	or	or	CCONJ
ajfa-93	68	46	0	0	NUM
ajfa-93	68	47	,	,	PUNCT
ajfa-93	68	48	0	0	NUM
ajfa-93	68	49	if	if	SCONJ
ajfa-93	68	50	not	not	PART
ajfa-93	68	51	disclosed	disclose	VERB
ajfa-93	68	52	company	company	NOUN
ajfa-93	68	53	has	have	VERB
ajfa-93	68	54	a	a	DET
ajfa-93	68	55	code	code	NOUN
ajfa-93	68	56	of	of	ADP
ajfa-93	68	57	conduct	conduct	NOUN
ajfa-93	68	58	1	1	NUM
ajfa-93	68	59	or	or	CCONJ
ajfa-93	68	60	0	0	NUM
ajfa-93	68	61	,	,	PUNCT
ajfa-93	68	62	0	0	NUM
ajfa-93	68	63	if	if	SCONJ
ajfa-93	68	64	not	not	PART
ajfa-93	68	65	disclosed	disclose	VERB
ajfa-93	68	66	total	total	ADJ
ajfa-93	68	67	procedures	procedure	NOUN
ajfa-93	68	68	2	2	NUM
ajfa-93	68	69	maximum	maximum	ADJ
ajfa-93	68	70	possible	possible	ADJ
ajfa-93	68	71	score	score	NOUN
ajfa-93	68	72	26	26	NUM
ajfa-93	68	73	2.1.1	2.1.1	NUM
ajfa-93	68	74	disclosure	disclosure	NOUN
ajfa-93	68	75	the	the	DET
ajfa-93	68	76	first	first	ADJ
ajfa-93	68	77	points	point	NOUN
ajfa-93	68	78	in	in	ADP
ajfa-93	68	79	the	the	DET
ajfa-93	68	80	index	index	NOUN
ajfa-93	68	81	were	be	AUX
ajfa-93	68	82	awarded	award	VERB
ajfa-93	68	83	for	for	ADP
ajfa-93	68	84	a	a	DET
ajfa-93	68	85	company	company	NOUN
ajfa-93	68	86	making	make	VERB
ajfa-93	68	87	a	a	DET
ajfa-93	68	88	statement	statement	NOUN
ajfa-93	68	89	on	on	ADP
ajfa-93	68	90	their	their	PRON
ajfa-93	68	91	corporate	corporate	ADJ
ajfa-93	68	92	governance	governance	NOUN
ajfa-93	68	93	policy	policy	NOUN
ajfa-93	68	94	,	,	PUNCT
ajfa-93	68	95	for	for	ADP
ajfa-93	68	96	including	include	VERB
ajfa-93	68	97	a	a	DET
ajfa-93	68	98	reference	reference	NOUN
ajfa-93	68	99	to	to	ADP
ajfa-93	68	100	the	the	DET
ajfa-93	68	101	asx	asx	NOUN
ajfa-93	68	102	principles	principle	NOUN
ajfa-93	68	103	,	,	PUNCT
ajfa-93	68	104	and	and	CCONJ
ajfa-93	68	105	for	for	ADP
ajfa-93	68	106	making	make	VERB
ajfa-93	68	107	an	an	DET
ajfa-93	68	108	assessment	assessment	NOUN
ajfa-93	68	109	of	of	ADP
ajfa-93	68	110	whether	whether	SCONJ
ajfa-93	68	111	the	the	DET
ajfa-93	68	112	company	company	NOUN
ajfa-93	68	113	currently	currently	ADV
ajfa-93	68	114	complies	comply	VERB
ajfa-93	68	115	with	with	ADP
ajfa-93	68	116	asx	asx	NOUN
ajfa-93	68	117	principles	principle	NOUN
ajfa-93	68	118	(	(	PUNCT
ajfa-93	68	119	1	1	NUM
ajfa-93	68	120	point	point	NOUN
ajfa-93	68	121	for	for	ADP
ajfa-93	68	122	a	a	DET
ajfa-93	68	123	general	general	ADJ
ajfa-93	68	124	statement	statement	NOUN
ajfa-93	68	125	about	about	ADP
ajfa-93	68	126	the	the	DET
ajfa-93	68	127	extent	extent	NOUN
ajfa-93	68	128	of	of	ADP
ajfa-93	68	129	compliance	compliance	NOUN
ajfa-93	68	130	,	,	PUNCT
ajfa-93	68	131	2	2	NUM
ajfa-93	68	132	points	point	NOUN
ajfa-93	68	133	for	for	ADP
ajfa-93	68	134	a	a	DET
ajfa-93	68	135	detailed	detailed	ADJ
ajfa-93	68	136	consideration	consideration	NOUN
ajfa-93	68	137	of	of	ADP
ajfa-93	68	138	the	the	DET
ajfa-93	68	139	principles	principle	NOUN
ajfa-93	68	140	)	)	PUNCT
ajfa-93	68	141	.	.	PUNCT
ajfa-93	69	1	the	the	DET
ajfa-93	69	2	remainder	remainder	NOUN
ajfa-93	69	3	of	of	ADP
ajfa-93	69	4	the	the	DET
ajfa-93	69	5	index	index	NOUN
ajfa-93	69	6	was	be	AUX
ajfa-93	69	7	an	an	DET
ajfa-93	69	8	assessment	assessment	NOUN
ajfa-93	69	9	of	of	ADP
ajfa-93	69	10	whether	whether	SCONJ
ajfa-93	69	11	in	in	ADP
ajfa-93	69	12	fact	fact	NOUN
ajfa-93	69	13	the	the	DET
ajfa-93	69	14	principles	principle	NOUN
ajfa-93	69	15	were	be	AUX
ajfa-93	69	16	already	already	ADV
ajfa-93	69	17	being	be	AUX
ajfa-93	69	18	applied	apply	VERB
ajfa-93	69	19	.	.	PUNCT
ajfa-93	70	1	the	the	DET
ajfa-93	70	2	index	index	NOUN
ajfa-93	70	3	includes	include	VERB
ajfa-93	70	4	a	a	DET
ajfa-93	70	5	point	point	NOUN
ajfa-93	70	6	each	each	PRON
ajfa-93	70	7	for	for	ADP
ajfa-93	70	8	disclosure	disclosure	NOUN
ajfa-93	70	9	of	of	ADP
ajfa-93	70	10	the	the	DET
ajfa-93	70	11	board	board	NOUN
ajfa-93	70	12	members‟	members‟	NOUN
ajfa-93	70	13	qualifications	qualification	NOUN
ajfa-93	70	14	and	and	CCONJ
ajfa-93	70	15	experience	experience	NOUN
ajfa-93	70	16	,	,	PUNCT
ajfa-93	70	17	and	and	CCONJ
ajfa-93	70	18	another	another	PRON
ajfa-93	70	19	for	for	ADP
ajfa-93	70	20	disclosing	disclose	VERB
ajfa-93	70	21	their	their	PRON
ajfa-93	70	22	attendance	attendance	NOUN
ajfa-93	70	23	at	at	ADP
ajfa-93	70	24	meetings	meeting	NOUN
ajfa-93	70	25	.	.	PUNCT
ajfa-93	71	1	these	these	DET
ajfa-93	71	2	disclosures	disclosure	NOUN
ajfa-93	71	3	are	be	AUX
ajfa-93	71	4	required	require	VERB
ajfa-93	71	5	for	for	SCONJ
ajfa-93	71	6	stakeholders	stakeholder	NOUN
ajfa-93	71	7	to	to	PART
ajfa-93	71	8	judge	judge	VERB
ajfa-93	71	9	the	the	DET
ajfa-93	71	10	competency	competency	NOUN
ajfa-93	71	11	of	of	ADP
ajfa-93	71	12	the	the	DET
ajfa-93	71	13	board	board	NOUN
ajfa-93	71	14	.	.	PUNCT
ajfa-93	72	1	the	the	DET
ajfa-93	72	2	index	index	NOUN
ajfa-93	72	3	does	do	AUX
ajfa-93	72	4	not	not	PART
ajfa-93	72	5	endeavour	endeavour	VERB
ajfa-93	72	6	to	to	PART
ajfa-93	72	7	make	make	VERB
ajfa-93	72	8	an	an	DET
ajfa-93	72	9	assessment	assessment	NOUN
ajfa-93	72	10	of	of	ADP
ajfa-93	72	11	actual	actual	ADJ
ajfa-93	72	12	board	board	NOUN
ajfa-93	72	13	competency	competency	NOUN
ajfa-93	72	14	on	on	ADP
ajfa-93	72	15	the	the	DET
ajfa-93	72	16	basis	basis	NOUN
ajfa-93	72	17	of	of	ADP
ajfa-93	72	18	these	these	DET
ajfa-93	72	19	disclosures	disclosure	NOUN
ajfa-93	72	20	,	,	PUNCT
ajfa-93	72	21	since	since	SCONJ
ajfa-93	72	22	to	to	PART
ajfa-93	72	23	do	do	AUX
ajfa-93	72	24	so	so	ADV
ajfa-93	72	25	would	would	AUX
ajfa-93	72	26	be	be	AUX
ajfa-93	72	27	highly	highly	ADV
ajfa-93	72	28	subjective	subjective	ADJ
ajfa-93	72	29	.	.	PUNCT
ajfa-93	73	1	2.1.2	2.1.2	NUM
ajfa-93	73	2	independence	independence	NOUN
ajfa-93	73	3	to	to	PART
ajfa-93	73	4	assess	assess	VERB
ajfa-93	73	5	the	the	DET
ajfa-93	73	6	strength	strength	NOUN
ajfa-93	73	7	of	of	ADP
ajfa-93	73	8	the	the	DET
ajfa-93	73	9	oversight	oversight	NOUN
ajfa-93	73	10	role	role	NOUN
ajfa-93	73	11	performed	perform	VERB
ajfa-93	73	12	by	by	ADP
ajfa-93	73	13	the	the	DET
ajfa-93	73	14	board	board	NOUN
ajfa-93	73	15	an	an	DET
ajfa-93	73	16	assessment	assessment	NOUN
ajfa-93	73	17	was	be	AUX
ajfa-93	73	18	made	make	VERB
ajfa-93	73	19	of	of	ADP
ajfa-93	73	20	the	the	DET
ajfa-93	73	21	independence	independence	NOUN
ajfa-93	73	22	of	of	ADP
ajfa-93	73	23	the	the	DET
ajfa-93	73	24	board	board	NOUN
ajfa-93	73	25	and	and	CCONJ
ajfa-93	73	26	relevant	relevant	ADJ
ajfa-93	73	27	committees	committee	NOUN
ajfa-93	73	28	(	(	PUNCT
ajfa-93	73	29	ashbaugh	ashbaugh	NOUN
ajfa-93	73	30	-	-	PUNCT
ajfa-93	73	31	skaife	skaife	NOUN
ajfa-93	73	32	et	et	PROPN
ajfa-93	73	33	al	al	PROPN
ajfa-93	73	34	.	.	PROPN
ajfa-93	73	35	2006	2006	NUM
ajfa-93	73	36	,	,	PUNCT
ajfa-93	73	37	anderson	anderson	PROPN
ajfa-93	73	38	et	et	PROPN
ajfa-93	73	39	al	al	PROPN
ajfa-93	73	40	.	.	PROPN
ajfa-93	73	41	2004	2004	NUM
ajfa-93	73	42	)	)	PUNCT
ajfa-93	73	43	.	.	PUNCT
ajfa-93	74	1	independence	independence	NOUN
ajfa-93	74	2	has	have	AUX
ajfa-93	74	3	been	be	AUX
ajfa-93	74	4	a	a	DET
ajfa-93	74	5	common	common	ADJ
ajfa-93	74	6	essential	essential	ADJ
ajfa-93	74	7	requirement	requirement	NOUN
ajfa-93	74	8	in	in	ADP
ajfa-93	74	9	all	all	DET
ajfa-93	74	10	the	the	DET
ajfa-93	74	11	regulatory	regulatory	ADJ
ajfa-93	74	12	recommendations	recommendation	NOUN
ajfa-93	74	13	regarding	regard	VERB
ajfa-93	74	14	corporate	corporate	ADJ
ajfa-93	74	15	governance	governance	NOUN
ajfa-93	74	16	.	.	PUNCT
ajfa-93	75	1	a	a	DET
ajfa-93	75	2	board	board	NOUN
ajfa-93	75	3	independent	independent	ADJ
ajfa-93	75	4	of	of	ADP
ajfa-93	75	5	the	the	DET
ajfa-93	75	6	company	company	NOUN
ajfa-93	75	7	and	and	CCONJ
ajfa-93	75	8	free	free	ADJ
ajfa-93	75	9	from	from	ADP
ajfa-93	75	10	undue	undue	ADJ
ajfa-93	75	11	influence	influence	NOUN
ajfa-93	75	12	from	from	ADP
ajfa-93	75	13	any	any	DET
ajfa-93	75	14	major	major	ADJ
ajfa-93	75	15	shareholder	shareholder	NOUN
ajfa-93	75	16	enables	enable	VERB
ajfa-93	75	17	the	the	DET
ajfa-93	75	18	directors	director	NOUN
ajfa-93	75	19	to	to	PART
ajfa-93	75	20	carry	carry	VERB
ajfa-93	75	21	out	out	ADP
ajfa-93	75	22	their	their	PRON
ajfa-93	75	23	oversight	oversight	NOUN
ajfa-93	75	24	role	role	NOUN
ajfa-93	75	25	in	in	ADP
ajfa-93	75	26	the	the	DET
ajfa-93	75	27	best	good	ADJ
ajfa-93	75	28	interests	interest	NOUN
ajfa-93	75	29	of	of	ADP
ajfa-93	75	30	all	all	DET
ajfa-93	75	31	shareholders	shareholder	NOUN
ajfa-93	75	32	and	and	CCONJ
ajfa-93	75	33	to	to	PART
ajfa-93	75	34	ensure	ensure	VERB
ajfa-93	75	35	that	that	SCONJ
ajfa-93	75	36	management	management	NOUN
ajfa-93	75	37	is	be	AUX
ajfa-93	75	38	accountable	accountable	ADJ
ajfa-93	75	39	to	to	ADP
ajfa-93	75	40	stakeholders	stakeholder	NOUN
ajfa-93	75	41	.	.	PUNCT
ajfa-93	76	1	the	the	DET
ajfa-93	76	2	number	number	NOUN
ajfa-93	76	3	of	of	ADP
ajfa-93	76	4	members	member	NOUN
ajfa-93	76	5	of	of	ADP
ajfa-93	76	6	the	the	DET
ajfa-93	76	7	board	board	NOUN
ajfa-93	76	8	and	and	CCONJ
ajfa-93	76	9	the	the	DET
ajfa-93	76	10	recommended	recommend	VERB
ajfa-93	76	11	committees	committee	NOUN
ajfa-93	76	12	(	(	PUNCT
ajfa-93	76	13	audit	audit	NOUN
ajfa-93	76	14	,	,	PUNCT
ajfa-93	76	15	remuneration	remuneration	NOUN
ajfa-93	76	16	and	and	CCONJ
ajfa-93	76	17	nomination	nomination	NOUN
ajfa-93	76	18	)	)	PUNCT
ajfa-93	76	19	was	be	AUX
ajfa-93	76	20	noted	note	VERB
ajfa-93	76	21	,	,	PUNCT
ajfa-93	76	22	and	and	CCONJ
ajfa-93	76	23	the	the	DET
ajfa-93	76	24	proportion	proportion	NOUN
ajfa-93	76	25	of	of	ADP
ajfa-93	76	26	independent	independent	ADJ
ajfa-93	76	27	members	member	NOUN
ajfa-93	76	28	was	be	AUX
ajfa-93	76	29	calculated	calculate	VERB
ajfa-93	76	30	.	.	PUNCT
ajfa-93	77	1	in	in	ADP
ajfa-93	77	2	the	the	DET
ajfa-93	77	3	absence	absence	NOUN
ajfa-93	77	4	of	of	ADP
ajfa-93	77	5	such	such	DET
ajfa-93	77	6	a	a	DET
ajfa-93	77	7	committee	committee	NOUN
ajfa-93	77	8	,	,	PUNCT
ajfa-93	77	9	the	the	DET
ajfa-93	77	10	proportion	proportion	NOUN
ajfa-93	77	11	was	be	AUX
ajfa-93	77	12	set	set	VERB
ajfa-93	77	13	to	to	ADP
ajfa-93	77	14	zero	zero	NUM
ajfa-93	77	15	.	.	PUNCT
ajfa-93	78	1	5	5	NUM
ajfa-93	78	2	points	point	NOUN
ajfa-93	78	3	were	be	AUX
ajfa-93	78	4	also	also	ADV
ajfa-93	78	5	included	include	VERB
ajfa-93	78	6	to	to	PART
ajfa-93	78	7	note	note	VERB
ajfa-93	78	8	the	the	DET
ajfa-93	78	9	separation	separation	NOUN
ajfa-93	78	10	of	of	ADP
ajfa-93	78	11	the	the	DET
ajfa-93	78	12	role	role	NOUN
ajfa-93	78	13	of	of	ADP
ajfa-93	78	14	ceo	ceo	NOUN
ajfa-93	78	15	and	and	CCONJ
ajfa-93	78	16	chairperson	chairperson	NOUN
ajfa-93	78	17	(	(	PUNCT
ajfa-93	78	18	balatbat	balatbat	PROPN
ajfa-93	78	19	,	,	PUNCT
ajfa-93	78	20	taylor	taylor	PROPN
ajfa-93	78	21	and	and	CCONJ
ajfa-93	78	22	walter	walter	PROPN
ajfa-93	78	23	2004	2004	NUM
ajfa-93	78	24	)	)	PUNCT
ajfa-93	78	25	and	and	CCONJ
ajfa-93	78	26	for	for	ADP
ajfa-93	78	27	an	an	DET
ajfa-93	78	28	independent	independent	ADJ
ajfa-93	78	29	chairperson	chairperson	NOUN
ajfa-93	78	30	.	.	PUNCT
ajfa-93	79	1	as	as	ADP
ajfa-93	79	2	a	a	DET
ajfa-93	79	3	further	further	ADJ
ajfa-93	79	4	measure	measure	NOUN
ajfa-93	79	5	of	of	ADP
ajfa-93	79	6	the	the	DET
ajfa-93	79	7	strength	strength	NOUN
ajfa-93	79	8	of	of	ADP
ajfa-93	79	9	the	the	DET
ajfa-93	79	10	oversight	oversight	NOUN
ajfa-93	79	11	role	role	NOUN
ajfa-93	79	12	performed	perform	VERB
ajfa-93	79	13	by	by	ADP
ajfa-93	79	14	the	the	DET
ajfa-93	79	15	board	board	NOUN
ajfa-93	79	16	,	,	PUNCT
ajfa-93	79	17	the	the	DET
ajfa-93	79	18	number	number	NOUN
ajfa-93	79	19	of	of	ADP
ajfa-93	79	20	board	board	NOUN
ajfa-93	79	21	and	and	CCONJ
ajfa-93	79	22	audit	audit	NOUN
ajfa-93	79	23	committee	committee	NOUN
ajfa-93	79	24	meetings	meeting	NOUN
ajfa-93	79	25	was	be	AUX
ajfa-93	79	26	considered	consider	VERB
ajfa-93	79	27	.	.	PUNCT
ajfa-93	80	1	following	follow	VERB
ajfa-93	80	2	the	the	DET
ajfa-93	80	3	horwarth	horwarth	ADJ
ajfa-93	80	4	report	report	NOUN
ajfa-93	80	5	(	(	PUNCT
ajfa-93	80	6	2002	2002	NUM
ajfa-93	80	7	)	)	PUNCT
ajfa-93	80	8	recommendations	recommendation	NOUN
ajfa-93	80	9	,	,	PUNCT
ajfa-93	80	10	strong	strong	ADJ
ajfa-93	80	11	oversight	oversight	NOUN
ajfa-93	80	12	was	be	AUX
ajfa-93	80	13	defined	define	VERB
ajfa-93	80	14	as	as	ADP
ajfa-93	80	15	the	the	DET
ajfa-93	80	16	board	board	NOUN
ajfa-93	80	17	meeting	meeting	NOUN
ajfa-93	80	18	at	at	ADP
ajfa-93	80	19	least	least	ADV
ajfa-93	80	20	six	six	NUM
ajfa-93	80	21	times	time	NOUN
ajfa-93	80	22	annually	annually	ADV
ajfa-93	80	23	and	and	CCONJ
ajfa-93	80	24	the	the	DET
ajfa-93	80	25	audit	audit	NOUN
ajfa-93	80	26	committee	committee	NOUN
ajfa-93	80	27	at	at	ADV
ajfa-93	80	28	least	least	ADV
ajfa-93	80	29	four	four	NUM
ajfa-93	80	30	times	time	NOUN
ajfa-93	80	31	annually	annually	ADV
ajfa-93	80	32	.	.	PUNCT
ajfa-93	81	1	two	two	NUM
ajfa-93	81	2	measures	measure	NOUN
ajfa-93	81	3	were	be	AUX
ajfa-93	81	4	used	use	VERB
ajfa-93	81	5	for	for	ADP
ajfa-93	81	6	independence	independence	NOUN
ajfa-93	81	7	of	of	ADP
ajfa-93	81	8	directors	director	NOUN
ajfa-93	81	9	.	.	PUNCT
ajfa-93	82	1	the	the	DET
ajfa-93	82	2	first	first	ADJ
ajfa-93	82	3	was	be	AUX
ajfa-93	82	4	simply	simply	ADV
ajfa-93	82	5	whether	whether	SCONJ
ajfa-93	82	6	the	the	DET
ajfa-93	82	7	director	director	NOUN
ajfa-93	82	8	is	be	AUX
ajfa-93	82	9	a	a	DET
ajfa-93	82	10	non	non	ADJ
ajfa-93	82	11	-	-	ADJ
ajfa-93	82	12	executive	executive	ADJ
ajfa-93	82	13	director	director	NOUN
ajfa-93	82	14	or	or	CCONJ
ajfa-93	82	15	not	not	PART
ajfa-93	82	16	(	(	PUNCT
ajfa-93	82	17	clarkson	clarkson	PROPN
ajfa-93	82	18	et	et	PROPN
ajfa-93	82	19	al	al	PROPN
ajfa-93	82	20	.	.	PROPN
ajfa-93	82	21	2006	2006	NUM
ajfa-93	82	22	)	)	PUNCT
ajfa-93	82	23	.	.	PUNCT
ajfa-93	83	1	annual	annual	ADJ
ajfa-93	83	2	reports	report	NOUN
ajfa-93	83	3	sometimes	sometimes	ADV
ajfa-93	83	4	imply	imply	VERB
ajfa-93	83	5	that	that	SCONJ
ajfa-93	83	6	the	the	DET
ajfa-93	83	7	term	term	NOUN
ajfa-93	83	8	non	non	ADJ
ajfa-93	83	9	-	-	ADJ
ajfa-93	83	10	executive	executive	ADJ
ajfa-93	83	11	indicates	indicate	VERB
ajfa-93	83	12	an	an	DET
ajfa-93	83	13	independent	independent	ADJ
ajfa-93	83	14	director	director	NOUN
ajfa-93	83	15	.	.	PUNCT
ajfa-93	84	1	as	as	SCONJ
ajfa-93	84	2	the	the	DET
ajfa-93	84	3	horwarth	horwarth	NOUN
ajfa-93	84	4	(	(	PUNCT
ajfa-93	84	5	2002	2002	NUM
ajfa-93	84	6	)	)	PUNCT
ajfa-93	84	7	report	report	NOUN
ajfa-93	84	8	points	point	VERB
ajfa-93	84	9	out	out	ADP
ajfa-93	84	10	,	,	PUNCT
ajfa-93	84	11	however	however	ADV
ajfa-93	84	12	,	,	PUNCT
ajfa-93	84	13	being	be	AUX
ajfa-93	84	14	a	a	DET
ajfa-93	84	15	non	non	ADJ
ajfa-93	84	16	-	-	ADJ
ajfa-93	84	17	executive	executive	ADJ
ajfa-93	84	18	director	director	NOUN
ajfa-93	84	19	merely	merely	ADV
ajfa-93	84	20	means	mean	VERB
ajfa-93	84	21	that	that	SCONJ
ajfa-93	84	22	a	a	DET
ajfa-93	84	23	director	director	NOUN
ajfa-93	84	24	is	be	AUX
ajfa-93	84	25	not	not	PART
ajfa-93	84	26	currently	currently	ADV
ajfa-93	84	27	a	a	DET
ajfa-93	84	28	manager	manager	NOUN
ajfa-93	84	29	and	and	CCONJ
ajfa-93	84	30	is	be	AUX
ajfa-93	84	31	often	often	ADV
ajfa-93	84	32	far	far	ADV
ajfa-93	84	33	from	from	ADP
ajfa-93	84	34	meaning	mean	VERB
ajfa-93	84	35	that	that	SCONJ
ajfa-93	84	36	the	the	DET
ajfa-93	84	37	director	director	NOUN
ajfa-93	84	38	is	be	AUX
ajfa-93	84	39	independent	independent	ADJ
ajfa-93	84	40	of	of	ADP
ajfa-93	84	41	the	the	DET
ajfa-93	84	42	company	company	NOUN
ajfa-93	84	43	.	.	PUNCT
ajfa-93	85	1	the	the	DET
ajfa-93	85	2	second	second	ADJ
ajfa-93	85	3	measure	measure	NOUN
ajfa-93	85	4	therefore	therefore	ADV
ajfa-93	85	5	took	take	VERB
ajfa-93	85	6	into	into	ADP
ajfa-93	85	7	account	account	NOUN
ajfa-93	85	8	5	5	NUM
ajfa-93	85	9	having	have	VERB
ajfa-93	85	10	regard	regard	NOUN
ajfa-93	85	11	to	to	ADP
ajfa-93	85	12	possible	possible	ADJ
ajfa-93	85	13	difficulties	difficulty	NOUN
ajfa-93	85	14	faced	face	VERB
ajfa-93	85	15	by	by	ADP
ajfa-93	85	16	smaller	small	ADJ
ajfa-93	85	17	companies	company	NOUN
ajfa-93	85	18	,	,	PUNCT
ajfa-93	85	19	it	it	PRON
ajfa-93	85	20	was	be	AUX
ajfa-93	85	21	permitted	permit	VERB
ajfa-93	85	22	for	for	SCONJ
ajfa-93	85	23	a	a	DET
ajfa-93	85	24	company	company	NOUN
ajfa-93	85	25	to	to	PART
ajfa-93	85	26	have	have	VERB
ajfa-93	85	27	combined	combined	ADJ
ajfa-93	85	28	remuneration	remuneration	NOUN
ajfa-93	85	29	/	/	SYM
ajfa-93	85	30	nomination	nomination	NOUN
ajfa-93	85	31	committees	committee	NOUN
ajfa-93	85	32	provided	provide	VERB
ajfa-93	85	33	that	that	SCONJ
ajfa-93	85	34	the	the	DET
ajfa-93	85	35	duties	duty	NOUN
ajfa-93	85	36	of	of	ADP
ajfa-93	85	37	the	the	DET
ajfa-93	85	38	combined	combined	ADJ
ajfa-93	85	39	committee	committee	NOUN
ajfa-93	85	40	were	be	AUX
ajfa-93	85	41	clearly	clearly	ADV
ajfa-93	85	42	stated	state	VERB
ajfa-93	85	43	to	to	PART
ajfa-93	85	44	include	include	VERB
ajfa-93	85	45	both	both	DET
ajfa-93	85	46	oversight	oversight	NOUN
ajfa-93	85	47	roles	role	NOUN
ajfa-93	85	48	.	.	PUNCT
ajfa-93	86	1	if	if	SCONJ
ajfa-93	86	2	a	a	DET
ajfa-93	86	3	company	company	NOUN
ajfa-93	86	4	did	do	AUX
ajfa-93	86	5	not	not	PART
ajfa-93	86	6	have	have	VERB
ajfa-93	86	7	a	a	DET
ajfa-93	86	8	committee	committee	NOUN
ajfa-93	86	9	performing	perform	VERB
ajfa-93	86	10	either	either	CCONJ
ajfa-93	86	11	role	role	NOUN
ajfa-93	86	12	,	,	PUNCT
ajfa-93	86	13	then	then	ADV
ajfa-93	86	14	the	the	DET
ajfa-93	86	15	score	score	NOUN
ajfa-93	86	16	was	be	AUX
ajfa-93	86	17	given	give	VERB
ajfa-93	86	18	as	as	ADP
ajfa-93	86	19	zero	zero	NUM
ajfa-93	86	20	.	.	PUNCT
ajfa-93	87	1	asian	asian	ADJ
ajfa-93	87	2	journal	journal	PROPN
ajfa-93	87	3	of	of	ADP
ajfa-93	87	4	finance	finance	PROPN
ajfa-93	87	5	&	&	CCONJ
ajfa-93	87	6	accounting	accounting	PROPN
ajfa-93	87	7	issn	issn	PROPN
ajfa-93	87	8	1946	1946	NUM
ajfa-93	87	9	-	-	PUNCT
ajfa-93	87	10	052x	052x	NOUN
ajfa-93	87	11	200x	200x	NUM
ajfa-93	87	12	,	,	PUNCT
ajfa-93	87	13	vol	vol	NOUN
ajfa-93	87	14	.	.	PROPN
ajfa-93	87	15	1	1	NUM
ajfa-93	87	16	,	,	PUNCT
ajfa-93	87	17	no	no	INTJ
ajfa-93	87	18	.	.	NOUN
ajfa-93	87	19	1	1	NUM
ajfa-93	87	20	:	:	PUNCT
ajfa-93	87	21	e1	e1	VERB
ajfa-93	87	22	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-93	87	23	40	40	NUM
ajfa-93	87	24	the	the	DET
ajfa-93	87	25	recommendations	recommendation	NOUN
ajfa-93	87	26	for	for	ADP
ajfa-93	87	27	best	good	ADJ
ajfa-93	87	28	practice	practice	NOUN
ajfa-93	87	29	per	per	ADP
ajfa-93	87	30	the	the	DET
ajfa-93	87	31	ifsa	ifsa	ADJ
ajfa-93	87	32	“	"	PUNCT
ajfa-93	87	33	blue	blue	ADJ
ajfa-93	87	34	book	book	NOUN
ajfa-93	87	35	”	"	PUNCT
ajfa-93	87	36	2004	2004	NUM
ajfa-93	87	37	and	and	CCONJ
ajfa-93	87	38	asx	asx	NOUN
ajfa-93	87	39	principle	principle	NOUN
ajfa-93	87	40	2	2	NUM
ajfa-93	87	41	,	,	PUNCT
ajfa-93	87	42	and	and	CCONJ
ajfa-93	87	43	strictly	strictly	ADV
ajfa-93	87	44	applied	apply	VERB
ajfa-93	87	45	a	a	DET
ajfa-93	87	46	director	director	NOUN
ajfa-93	87	47	was	be	AUX
ajfa-93	87	48	only	only	ADV
ajfa-93	87	49	considered	consider	VERB
ajfa-93	87	50	independent	independent	ADJ
ajfa-93	87	51	if	if	SCONJ
ajfa-93	87	52	he	he	PRON
ajfa-93	87	53	/	/	SYM
ajfa-93	87	54	she	she	PRON
ajfa-93	87	55	satisfied	satisfy	VERB
ajfa-93	87	56	all	all	PRON
ajfa-93	87	57	of	of	ADP
ajfa-93	87	58	the	the	DET
ajfa-93	87	59	following	following	NOUN
ajfa-93	87	60	:	:	PUNCT
ajfa-93	87	61			PROPN
ajfa-93	87	62	non	non	ADJ
ajfa-93	87	63	-	-	ADJ
ajfa-93	87	64	executive	executive	ADJ
ajfa-93	87	65			NOUN
ajfa-93	87	66	had	have	VERB
ajfa-93	87	67	an	an	DET
ajfa-93	87	68	interest	interest	NOUN
ajfa-93	87	69	in	in	ADP
ajfa-93	87	70	less	less	ADJ
ajfa-93	87	71	than	than	ADP
ajfa-93	87	72	5	5	NUM
ajfa-93	87	73	%	%	NOUN
ajfa-93	87	74	of	of	ADP
ajfa-93	87	75	the	the	DET
ajfa-93	87	76	company‟s	company‟s	ADJ
ajfa-93	87	77	voting	voting	NOUN
ajfa-93	87	78	share	share	NOUN
ajfa-93	87	79	capital	capital	NOUN
ajfa-93	87	80	,	,	PUNCT
ajfa-93	87	81			PROPN
ajfa-93	87	82	had	have	AUX
ajfa-93	87	83	not	not	PART
ajfa-93	87	84	held	hold	VERB
ajfa-93	87	85	an	an	DET
ajfa-93	87	86	executive	executive	ADJ
ajfa-93	87	87	position	position	NOUN
ajfa-93	87	88	in	in	ADP
ajfa-93	87	89	the	the	DET
ajfa-93	87	90	company	company	NOUN
ajfa-93	87	91	in	in	ADP
ajfa-93	87	92	the	the	DET
ajfa-93	87	93	past	past	ADJ
ajfa-93	87	94	three	three	NUM
ajfa-93	87	95	years	year	NOUN
ajfa-93	87	96			NOUN
ajfa-93	87	97	had	have	AUX
ajfa-93	87	98	not	not	PART
ajfa-93	87	99	had	have	VERB
ajfa-93	87	100	any	any	DET
ajfa-93	87	101	material	material	ADJ
ajfa-93	87	102	interest	interest	NOUN
ajfa-93	87	103	in	in	ADP
ajfa-93	87	104	a	a	DET
ajfa-93	87	105	contractual	contractual	ADJ
ajfa-93	87	106	relationship	relationship	NOUN
ajfa-93	87	107	/	/	SYM
ajfa-93	87	108	consultancy	consultancy	NOUN
ajfa-93	87	109	with	with	ADP
ajfa-93	87	110	the	the	DET
ajfa-93	87	111	company	company	NOUN
ajfa-93	87	112	other	other	ADJ
ajfa-93	87	113	than	than	ADP
ajfa-93	87	114	the	the	DET
ajfa-93	87	115	directorship	directorship	NOUN
ajfa-93	87	116	and	and	CCONJ
ajfa-93	87	117	had	have	VERB
ajfa-93	87	118	no	no	DET
ajfa-93	87	119	other	other	ADJ
ajfa-93	87	120	obvious	obvious	ADJ
ajfa-93	87	121	personal	personal	ADJ
ajfa-93	87	122	connection	connection	NOUN
ajfa-93	87	123	with	with	ADP
ajfa-93	87	124	executive	executive	ADJ
ajfa-93	87	125	directors	director	NOUN
ajfa-93	87	126	.	.	PUNCT
ajfa-93	88	1			PROPN
ajfa-93	88	2	had	have	AUX
ajfa-93	88	3	not	not	PART
ajfa-93	88	4	served	serve	VERB
ajfa-93	88	5	on	on	ADP
ajfa-93	88	6	the	the	DET
ajfa-93	88	7	board	board	NOUN
ajfa-93	88	8	for	for	ADP
ajfa-93	88	9	a	a	DET
ajfa-93	88	10	prolonged	prolonged	ADJ
ajfa-93	88	11	period	period	NOUN
ajfa-93	88	12	likely	likely	ADJ
ajfa-93	88	13	to	to	PART
ajfa-93	88	14	materially	materially	ADV
ajfa-93	88	15	effect	effect	VERB
ajfa-93	88	16	independence	independence	NOUN
ajfa-93	88	17	(	(	PUNCT
ajfa-93	88	18	as	as	ADP
ajfa-93	88	19	a	a	DET
ajfa-93	88	20	guide	guide	NOUN
ajfa-93	88	21	this	this	DET
ajfa-93	88	22	study	study	NOUN
ajfa-93	88	23	presumed	presume	VERB
ajfa-93	88	24	10	10	NUM
ajfa-93	88	25	years	year	NOUN
ajfa-93	88	26	to	to	PART
ajfa-93	88	27	be	be	AUX
ajfa-93	88	28	the	the	DET
ajfa-93	88	29	maximum	maximum	NOUN
ajfa-93	88	30	)	)	PUNCT
ajfa-93	88	31	this	this	PRON
ajfa-93	88	32	was	be	AUX
ajfa-93	88	33	assessed	assess	VERB
ajfa-93	88	34	based	base	VERB
ajfa-93	88	35	on	on	ADP
ajfa-93	88	36	information	information	NOUN
ajfa-93	88	37	gleaned	glean	VERB
ajfa-93	88	38	from	from	ADP
ajfa-93	88	39	the	the	DET
ajfa-93	88	40	2003	2003	NUM
ajfa-93	88	41	annual	annual	ADJ
ajfa-93	88	42	report	report	NOUN
ajfa-93	88	43	of	of	ADP
ajfa-93	88	44	the	the	DET
ajfa-93	88	45	company	company	NOUN
ajfa-93	88	46	,	,	PUNCT
ajfa-93	88	47	particularly	particularly	ADV
ajfa-93	88	48	disclosure	disclosure	NOUN
ajfa-93	88	49	of	of	ADP
ajfa-93	88	50	directors‟	directors‟	PROPN
ajfa-93	88	51	interests	interest	NOUN
ajfa-93	88	52	,	,	PUNCT
ajfa-93	88	53	related	relate	VERB
ajfa-93	88	54	party	party	NOUN
ajfa-93	88	55	transactions	transaction	NOUN
ajfa-93	88	56	and	and	CCONJ
ajfa-93	88	57	general	general	ADJ
ajfa-93	88	58	description	description	NOUN
ajfa-93	88	59	of	of	ADP
ajfa-93	88	60	directors‟	directors‟	PROPN
ajfa-93	88	61	positions	position	NOUN
ajfa-93	88	62	held	hold	VERB
ajfa-93	88	63	.	.	PUNCT
ajfa-93	89	1	2.1.3	2.1.3	NUM
ajfa-93	89	2	external	external	ADJ
ajfa-93	89	3	audit	audit	NOUN
ajfa-93	89	4	as	as	SCONJ
ajfa-93	89	5	the	the	DET
ajfa-93	89	6	board	board	NOUN
ajfa-93	89	7	is	be	AUX
ajfa-93	89	8	also	also	ADV
ajfa-93	89	9	responsible	responsible	ADJ
ajfa-93	89	10	for	for	ADP
ajfa-93	89	11	the	the	DET
ajfa-93	89	12	appointment	appointment	NOUN
ajfa-93	89	13	of	of	ADP
ajfa-93	89	14	the	the	DET
ajfa-93	89	15	external	external	ADJ
ajfa-93	89	16	auditors	auditor	NOUN
ajfa-93	89	17	,	,	PUNCT
ajfa-93	89	18	it	it	PRON
ajfa-93	89	19	was	be	AUX
ajfa-93	89	20	noted	note	VERB
ajfa-93	89	21	whether	whether	SCONJ
ajfa-93	89	22	or	or	CCONJ
ajfa-93	89	23	not	not	PART
ajfa-93	89	24	a	a	DET
ajfa-93	89	25	leading	lead	VERB
ajfa-93	89	26	external	external	ADJ
ajfa-93	89	27	audit	audit	NOUN
ajfa-93	89	28	firm	firm	NOUN
ajfa-93	89	29	had	have	AUX
ajfa-93	89	30	been	be	AUX
ajfa-93	89	31	appointed	appoint	VERB
ajfa-93	89	32	.	.	PUNCT
ajfa-93	90	1	audit	audit	NOUN
ajfa-93	90	2	firm	firm	ADJ
ajfa-93	90	3	size	size	NOUN
ajfa-93	90	4	was	be	AUX
ajfa-93	90	5	used	use	VERB
ajfa-93	90	6	as	as	ADP
ajfa-93	90	7	a	a	DET
ajfa-93	90	8	proxy	proxy	NOUN
ajfa-93	90	9	for	for	ADP
ajfa-93	90	10	quality	quality	NOUN
ajfa-93	90	11	(	(	PUNCT
ajfa-93	90	12	clarkson	clarkson	PROPN
ajfa-93	90	13	et	et	PROPN
ajfa-93	90	14	al	al	PROPN
ajfa-93	90	15	.	.	PROPN
ajfa-93	90	16	2006	2006	NUM
ajfa-93	90	17	;	;	PUNCT
ajfa-93	90	18	deangelo	deangelo	PROPN
ajfa-93	90	19	1981	1981	NUM
ajfa-93	90	20	;	;	PUNCT
ajfa-93	90	21	francis	francis	PROPN
ajfa-93	90	22	,	,	PUNCT
ajfa-93	90	23	khurana	khurana	PROPN
ajfa-93	90	24	and	and	CCONJ
ajfa-93	90	25	pereira	pereira	PROPN
ajfa-93	90	26	2003	2003	NUM
ajfa-93	90	27	)	)	PUNCT
ajfa-93	90	28	.	.	PUNCT
ajfa-93	91	1	one	one	NUM
ajfa-93	91	2	point	point	NOUN
ajfa-93	91	3	was	be	AUX
ajfa-93	91	4	awarded	award	VERB
ajfa-93	91	5	for	for	ADP
ajfa-93	91	6	a	a	DET
ajfa-93	91	7	“	"	PUNCT
ajfa-93	91	8	big	big	ADJ
ajfa-93	91	9	four	four	NUM
ajfa-93	91	10	”	"	PUNCT
ajfa-93	91	11	audit	audit	NOUN
ajfa-93	91	12	firm	firm	NOUN
ajfa-93	91	13	.	.	PUNCT
ajfa-93	92	1	the	the	DET
ajfa-93	92	2	proportion	proportion	NOUN
ajfa-93	92	3	of	of	ADP
ajfa-93	92	4	audit	audit	NOUN
ajfa-93	92	5	fee	fee	NOUN
ajfa-93	92	6	charged	charge	VERB
ajfa-93	92	7	compared	compare	VERB
ajfa-93	92	8	to	to	ADP
ajfa-93	92	9	the	the	DET
ajfa-93	92	10	fees	fee	NOUN
ajfa-93	92	11	for	for	ADP
ajfa-93	92	12	other	other	ADJ
ajfa-93	92	13	services	service	NOUN
ajfa-93	92	14	provided	provide	VERB
ajfa-93	92	15	was	be	AUX
ajfa-93	92	16	also	also	ADV
ajfa-93	92	17	calculated	calculate	VERB
ajfa-93	92	18	.	.	PUNCT
ajfa-93	93	1	it	it	PRON
ajfa-93	93	2	is	be	AUX
ajfa-93	93	3	assumed	assume	VERB
ajfa-93	93	4	that	that	SCONJ
ajfa-93	93	5	an	an	DET
ajfa-93	93	6	auditor	auditor	NOUN
ajfa-93	93	7	will	will	AUX
ajfa-93	93	8	be	be	AUX
ajfa-93	93	9	more	more	ADV
ajfa-93	93	10	independent	independent	ADJ
ajfa-93	93	11	the	the	PRON
ajfa-93	93	12	higher	high	ADJ
ajfa-93	93	13	the	the	DET
ajfa-93	93	14	proportion	proportion	NOUN
ajfa-93	93	15	of	of	ADP
ajfa-93	93	16	the	the	DET
ajfa-93	93	17	fee	fee	NOUN
ajfa-93	93	18	relates	relate	VERB
ajfa-93	93	19	to	to	ADP
ajfa-93	93	20	the	the	DET
ajfa-93	93	21	audit	audit	NOUN
ajfa-93	93	22	,	,	PUNCT
ajfa-93	93	23	as	as	SCONJ
ajfa-93	93	24	this	this	PRON
ajfa-93	93	25	reduces	reduce	VERB
ajfa-93	93	26	potential	potential	ADJ
ajfa-93	93	27	conflicts	conflict	NOUN
ajfa-93	93	28	of	of	ADP
ajfa-93	93	29	interest	interest	NOUN
ajfa-93	93	30	.	.	PUNCT
ajfa-93	94	1	2.1.4	2.1.4	NUM
ajfa-93	94	2	procedures	procedure	NOUN
ajfa-93	94	3	finally	finally	ADV
ajfa-93	94	4	,	,	PUNCT
ajfa-93	94	5	points	point	NOUN
ajfa-93	94	6	were	be	AUX
ajfa-93	94	7	awarded	award	VERB
ajfa-93	94	8	a	a	DET
ajfa-93	94	9	company	company	NOUN
ajfa-93	94	10	for	for	ADP
ajfa-93	94	11	having	have	VERB
ajfa-93	94	12	adopted	adopt	VERB
ajfa-93	94	13	procedures	procedure	NOUN
ajfa-93	94	14	suggested	suggest	VERB
ajfa-93	94	15	by	by	ADP
ajfa-93	94	16	asx	asx	NOUN
ajfa-93	94	17	principles	principle	NOUN
ajfa-93	94	18	1	1	NUM
ajfa-93	94	19	and	and	CCONJ
ajfa-93	94	20	3	3	NUM
ajfa-93	94	21	.	.	NOUN
ajfa-93	94	22	one	one	NUM
ajfa-93	94	23	point	point	NOUN
ajfa-93	94	24	was	be	AUX
ajfa-93	94	25	awarded	award	VERB
ajfa-93	94	26	if	if	SCONJ
ajfa-93	94	27	the	the	DET
ajfa-93	94	28	company	company	NOUN
ajfa-93	94	29	laid	lay	VERB
ajfa-93	94	30	down	down	ADP
ajfa-93	94	31	guidelines	guideline	NOUN
ajfa-93	94	32	for	for	ADP
ajfa-93	94	33	board	board	NOUN
ajfa-93	94	34	/	/	SYM
ajfa-93	94	35	management	management	NOUN
ajfa-93	94	36	duties	duty	NOUN
ajfa-93	94	37	(	(	PUNCT
ajfa-93	94	38	e.g.	e.g.	ADV
ajfa-93	94	39	charter	charter	NOUN
ajfa-93	94	40	)	)	PUNCT
ajfa-93	94	41	.	.	PUNCT
ajfa-93	95	1	a	a	DET
ajfa-93	95	2	further	further	ADJ
ajfa-93	95	3	point	point	NOUN
ajfa-93	95	4	was	be	AUX
ajfa-93	95	5	awarded	award	VERB
ajfa-93	95	6	if	if	SCONJ
ajfa-93	95	7	the	the	DET
ajfa-93	95	8	company	company	NOUN
ajfa-93	95	9	disclosed	disclose	VERB
ajfa-93	95	10	that	that	SCONJ
ajfa-93	95	11	it	it	PRON
ajfa-93	95	12	had	have	VERB
ajfa-93	95	13	a	a	DET
ajfa-93	95	14	code	code	NOUN
ajfa-93	95	15	of	of	ADP
ajfa-93	95	16	conduct	conduct	NOUN
ajfa-93	95	17	.	.	PUNCT
ajfa-93	96	1	2.2	2.2	NUM
ajfa-93	96	2	assessment	assessment	NOUN
ajfa-93	96	3	of	of	ADP
ajfa-93	96	4	sustainability	sustainability	NOUN
ajfa-93	96	5	the	the	DET
ajfa-93	96	6	published	publish	VERB
ajfa-93	96	7	annual	annual	ADJ
ajfa-93	96	8	financial	financial	ADJ
ajfa-93	96	9	reports	report	NOUN
ajfa-93	96	10	of	of	ADP
ajfa-93	96	11	each	each	PRON
ajfa-93	96	12	of	of	ADP
ajfa-93	96	13	the	the	DET
ajfa-93	96	14	companies	company	NOUN
ajfa-93	96	15	in	in	ADP
ajfa-93	96	16	the	the	DET
ajfa-93	96	17	sample	sample	NOUN
ajfa-93	96	18	were	be	AUX
ajfa-93	96	19	examined	examine	VERB
ajfa-93	96	20	for	for	ADP
ajfa-93	96	21	the	the	DET
ajfa-93	96	22	inclusion	inclusion	NOUN
ajfa-93	96	23	or	or	CCONJ
ajfa-93	96	24	otherwise	otherwise	ADV
ajfa-93	96	25	of	of	ADP
ajfa-93	96	26	a	a	DET
ajfa-93	96	27	statement	statement	NOUN
ajfa-93	96	28	on	on	ADP
ajfa-93	96	29	corporate	corporate	ADJ
ajfa-93	96	30	social	social	ADJ
ajfa-93	96	31	responsibility	responsibility	NOUN
ajfa-93	96	32	(	(	PUNCT
ajfa-93	96	33	csr	csr	NOUN
ajfa-93	96	34	)	)	PUNCT
ajfa-93	96	35	or	or	CCONJ
ajfa-93	96	36	sustainability	sustainability	NOUN
ajfa-93	96	37	.	.	PUNCT
ajfa-93	97	1	in	in	ADP
ajfa-93	97	2	addition	addition	NOUN
ajfa-93	97	3	,	,	PUNCT
ajfa-93	97	4	sample	sample	NOUN
ajfa-93	97	5	firms	firm	NOUN
ajfa-93	97	6	with	with	ADP
ajfa-93	97	7	separate	separate	ADJ
ajfa-93	97	8	sustainability	sustainability	NOUN
ajfa-93	97	9	or	or	CCONJ
ajfa-93	97	10	csr	csr	NOUN
ajfa-93	97	11	reports	report	NOUN
ajfa-93	97	12	were	be	AUX
ajfa-93	97	13	identified	identify	VERB
ajfa-93	97	14	.	.	PUNCT
ajfa-93	98	1	the	the	DET
ajfa-93	98	2	total	total	ADJ
ajfa-93	98	3	number	number	NOUN
ajfa-93	98	4	of	of	ADP
ajfa-93	98	5	pages	page	NOUN
ajfa-93	98	6	devoted	devote	VERB
ajfa-93	98	7	to	to	ADP
ajfa-93	98	8	sustainability	sustainability	NOUN
ajfa-93	98	9	reporting	reporting	NOUN
ajfa-93	98	10	was	be	AUX
ajfa-93	98	11	captured	capture	VERB
ajfa-93	98	12	for	for	ADP
ajfa-93	98	13	each	each	DET
ajfa-93	98	14	company	company	NOUN
ajfa-93	98	15	.	.	PUNCT
ajfa-93	99	1	2.3	2.3	NUM
ajfa-93	99	2	sample	sample	NOUN
ajfa-93	99	3	and	and	CCONJ
ajfa-93	99	4	data	datum	NOUN
ajfa-93	99	5	assessed	assess	VERB
ajfa-93	99	6	default	default	NOUN
ajfa-93	99	7	risk	risk	NOUN
ajfa-93	99	8	is	be	AUX
ajfa-93	99	9	captured	capture	VERB
ajfa-93	99	10	by	by	ADP
ajfa-93	99	11	an	an	DET
ajfa-93	99	12	independent	independent	ADJ
ajfa-93	99	13	assessment	assessment	NOUN
ajfa-93	99	14	of	of	ADP
ajfa-93	99	15	the	the	DET
ajfa-93	99	16	risk	risk	NOUN
ajfa-93	99	17	to	to	ADP
ajfa-93	99	18	lenders	lender	NOUN
ajfa-93	99	19	a	a	DET
ajfa-93	99	20	firm‟s	firm‟s	NOUN
ajfa-93	99	21	individual	individual	ADJ
ajfa-93	99	22	credit	credit	NOUN
ajfa-93	99	23	rating	rating	NOUN
ajfa-93	99	24	supplied	supply	VERB
ajfa-93	99	25	by	by	ADP
ajfa-93	99	26	standard	standard	NOUN
ajfa-93	99	27	and	and	CCONJ
ajfa-93	99	28	poor‟s	poor‟s	PROPN
ajfa-93	99	29	(	(	PUNCT
ajfa-93	99	30	s	s	X
ajfa-93	99	31	&	&	CCONJ
ajfa-93	99	32	p	p	PRON
ajfa-93	99	33	)	)	PUNCT
ajfa-93	99	34	.	.	PUNCT
ajfa-93	100	1	companies	company	NOUN
ajfa-93	100	2	often	often	ADV
ajfa-93	100	3	acknowledge	acknowledge	VERB
ajfa-93	100	4	the	the	DET
ajfa-93	100	5	importance	importance	NOUN
ajfa-93	100	6	of	of	ADP
ajfa-93	100	7	credit	credit	NOUN
ajfa-93	100	8	ratings	rating	NOUN
ajfa-93	100	9	in	in	ADP
ajfa-93	100	10	raising	raise	VERB
ajfa-93	100	11	non	non	ADJ
ajfa-93	100	12	equity	equity	NOUN
ajfa-93	100	13	finance	finance	NOUN
ajfa-93	100	14	.	.	PUNCT
ajfa-93	101	1	indeed	indeed	ADV
ajfa-93	101	2	,	,	PUNCT
ajfa-93	101	3	many	many	ADJ
ajfa-93	101	4	quote	quote	VERB
ajfa-93	101	5	their	their	PRON
ajfa-93	101	6	credit	credit	NOUN
ajfa-93	101	7	rating	rating	NOUN
ajfa-93	101	8	(	(	PUNCT
ajfa-93	101	9	particularly	particularly	ADV
ajfa-93	101	10	if	if	SCONJ
ajfa-93	101	11	it	it	PRON
ajfa-93	101	12	has	have	AUX
ajfa-93	101	13	improved	improve	VERB
ajfa-93	101	14	during	during	ADP
ajfa-93	101	15	the	the	DET
ajfa-93	101	16	period	period	NOUN
ajfa-93	101	17	)	)	PUNCT
ajfa-93	101	18	in	in	ADP
ajfa-93	101	19	their	their	PRON
ajfa-93	101	20	annual	annual	ADJ
ajfa-93	101	21	report	report	NOUN
ajfa-93	101	22	,	,	PUNCT
ajfa-93	101	23	as	as	ADP
ajfa-93	101	24	an	an	DET
ajfa-93	101	25	indication	indication	NOUN
ajfa-93	101	26	of	of	ADP
ajfa-93	101	27	their	their	PRON
ajfa-93	101	28	risk	risk	NOUN
ajfa-93	101	29	standing	standing	NOUN
ajfa-93	101	30	.	.	PUNCT
ajfa-93	102	1	credit	credit	NOUN
ajfa-93	102	2	ratings	rating	NOUN
ajfa-93	102	3	for	for	ADP
ajfa-93	102	4	82	82	NUM
ajfa-93	102	5	australian	australian	ADJ
ajfa-93	102	6	companies	company	NOUN
ajfa-93	102	7	were	be	AUX
ajfa-93	102	8	obtained	obtain	VERB
ajfa-93	102	9	from	from	ADP
ajfa-93	102	10	s	s	PROPN
ajfa-93	102	11	&	&	CCONJ
ajfa-93	102	12	p	p	NOUN
ajfa-93	102	13	for	for	ADP
ajfa-93	102	14	the	the	DET
ajfa-93	102	15	financial	financial	ADJ
ajfa-93	102	16	year	year	NOUN
ajfa-93	102	17	to	to	ADP
ajfa-93	102	18	30	30	NUM
ajfa-93	102	19	th	th	NOUN
ajfa-93	102	20	june	june	PROPN
ajfa-93	102	21	2004	2004	NUM
ajfa-93	102	22	.	.	PUNCT
ajfa-93	103	1	however	however	ADV
ajfa-93	103	2	several	several	ADJ
ajfa-93	103	3	of	of	ADP
ajfa-93	103	4	these	these	DET
ajfa-93	103	5	companies	company	NOUN
ajfa-93	103	6	were	be	AUX
ajfa-93	103	7	excluded	exclude	VERB
ajfa-93	103	8	from	from	ADP
ajfa-93	103	9	our	our	PRON
ajfa-93	103	10	final	final	ADJ
ajfa-93	103	11	sample	sample	NOUN
ajfa-93	103	12	.	.	PUNCT
ajfa-93	104	1	s	s	PROPN
ajfa-93	104	2	&	&	CCONJ
ajfa-93	104	3	p	p	NOUN
ajfa-93	104	4	rates	rate	NOUN
ajfa-93	104	5	entities	entity	NOUN
ajfa-93	104	6	at	at	ADP
ajfa-93	104	7	their	their	PRON
ajfa-93	104	8	request	request	NOUN
ajfa-93	104	9	as	as	ADV
ajfa-93	104	10	well	well	ADV
ajfa-93	104	11	as	as	ADP
ajfa-93	104	12	rating	rating	NOUN
ajfa-93	104	13	companies	company	NOUN
ajfa-93	104	14	for	for	ADP
ajfa-93	104	15	their	their	PRON
ajfa-93	104	16	own	own	ADJ
ajfa-93	104	17	database	database	NOUN
ajfa-93	104	18	.	.	PUNCT
ajfa-93	105	1	entities	entity	NOUN
ajfa-93	105	2	may	may	AUX
ajfa-93	105	3	seek	seek	VERB
ajfa-93	105	4	a	a	DET
ajfa-93	105	5	credit	credit	NOUN
ajfa-93	105	6	rating	rating	NOUN
ajfa-93	105	7	asian	asian	ADJ
ajfa-93	105	8	journal	journal	NOUN
ajfa-93	105	9	of	of	ADP
ajfa-93	105	10	finance	finance	PROPN
ajfa-93	105	11	&	&	CCONJ
ajfa-93	105	12	accounting	accounting	PROPN
ajfa-93	105	13	issn	issn	PROPN
ajfa-93	105	14	1946	1946	NUM
ajfa-93	105	15	-	-	PUNCT
ajfa-93	105	16	052x	052x	NOUN
ajfa-93	105	17	200x	200x	NUM
ajfa-93	105	18	,	,	PUNCT
ajfa-93	105	19	vol	vol	NOUN
ajfa-93	105	20	.	.	PROPN
ajfa-93	106	1	1	1	NUM
ajfa-93	106	2	,	,	PUNCT
ajfa-93	106	3	no	no	INTJ
ajfa-93	106	4	.	.	NOUN
ajfa-93	106	5	1	1	NUM
ajfa-93	106	6	:	:	PUNCT
ajfa-93	106	7	e1	e1	VERB
ajfa-93	106	8	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-93	106	9	41	41	NUM
ajfa-93	106	10	in	in	ADP
ajfa-93	106	11	order	order	NOUN
ajfa-93	106	12	to	to	PART
ajfa-93	106	13	obtain	obtain	VERB
ajfa-93	106	14	finance	finance	NOUN
ajfa-93	106	15	,	,	PUNCT
ajfa-93	106	16	or	or	CCONJ
ajfa-93	106	17	in	in	ADP
ajfa-93	106	18	contemplation	contemplation	NOUN
ajfa-93	106	19	of	of	ADP
ajfa-93	106	20	listing	listing	NOUN
ajfa-93	106	21	.	.	PUNCT
ajfa-93	107	1	the	the	DET
ajfa-93	107	2	original	original	ADJ
ajfa-93	107	3	list	list	NOUN
ajfa-93	107	4	contained	contain	VERB
ajfa-93	107	5	a	a	DET
ajfa-93	107	6	number	number	NOUN
ajfa-93	107	7	of	of	ADP
ajfa-93	107	8	private	private	ADJ
ajfa-93	107	9	(	(	PUNCT
ajfa-93	107	10	pty	pty	PROPN
ajfa-93	107	11	ltd	ltd	PROPN
ajfa-93	107	12	)	)	PUNCT
ajfa-93	107	13	companies	company	NOUN
ajfa-93	107	14	as	as	ADV
ajfa-93	107	15	well	well	ADV
ajfa-93	107	16	as	as	ADP
ajfa-93	107	17	subsidiaries	subsidiary	NOUN
ajfa-93	107	18	of	of	ADP
ajfa-93	107	19	other	other	ADJ
ajfa-93	107	20	companies	company	NOUN
ajfa-93	107	21	not	not	PART
ajfa-93	107	22	publishing	publish	VERB
ajfa-93	107	23	separate	separate	ADJ
ajfa-93	107	24	financial	financial	ADJ
ajfa-93	107	25	data	datum	NOUN
ajfa-93	107	26	.	.	PUNCT
ajfa-93	108	1	there	there	PRON
ajfa-93	108	2	were	be	VERB
ajfa-93	108	3	also	also	ADV
ajfa-93	108	4	a	a	DET
ajfa-93	108	5	number	number	NOUN
ajfa-93	108	6	of	of	ADP
ajfa-93	108	7	delistings	delisting	NOUN
ajfa-93	108	8	and	and	CCONJ
ajfa-93	108	9	mergers	merger	NOUN
ajfa-93	108	10	/	/	SYM
ajfa-93	108	11	demergers	demerger	NOUN
ajfa-93	108	12	and	and	CCONJ
ajfa-93	108	13	one	one	NUM
ajfa-93	108	14	company	company	NOUN
ajfa-93	108	15	under	under	ADP
ajfa-93	108	16	voluntary	voluntary	ADJ
ajfa-93	108	17	administration	administration	NOUN
ajfa-93	108	18	.	.	PUNCT
ajfa-93	109	1	the	the	DET
ajfa-93	109	2	final	final	ADJ
ajfa-93	109	3	sample	sample	NOUN
ajfa-93	109	4	ultimately	ultimately	ADV
ajfa-93	109	5	consisted	consist	VERB
ajfa-93	109	6	of	of	ADP
ajfa-93	109	7	38	38	NUM
ajfa-93	109	8	companies	company	NOUN
ajfa-93	109	9	which	which	PRON
ajfa-93	109	10	met	meet	VERB
ajfa-93	109	11	the	the	DET
ajfa-93	109	12	criteria	criterion	NOUN
ajfa-93	109	13	of	of	ADP
ajfa-93	109	14	being	be	AUX
ajfa-93	109	15	non	non	ADJ
ajfa-93	109	16	finance	finance	NOUN
ajfa-93	109	17	/	/	SYM
ajfa-93	109	18	banking	banking	NOUN
ajfa-93	109	19	/	/	SYM
ajfa-93	109	20	insurance	insurance	NOUN
ajfa-93	109	21	6	6	NUM
ajfa-93	109	22	and	and	CCONJ
ajfa-93	109	23	which	which	PRON
ajfa-93	109	24	held	hold	VERB
ajfa-93	109	25	an	an	DET
ajfa-93	109	26	s	s	NOUN
ajfa-93	109	27	&	&	CCONJ
ajfa-93	109	28	p	p	NOUN
ajfa-93	109	29	credit	credit	NOUN
ajfa-93	109	30	rating	rating	NOUN
ajfa-93	109	31	in	in	ADP
ajfa-93	109	32	2004	2004	NUM
ajfa-93	109	33	and	and	CCONJ
ajfa-93	109	34	filed	file	VERB
ajfa-93	109	35	an	an	DET
ajfa-93	109	36	annual	annual	ADJ
ajfa-93	109	37	report	report	NOUN
ajfa-93	109	38	in	in	ADP
ajfa-93	109	39	2003	2003	NUM
ajfa-93	109	40	.	.	PUNCT
ajfa-93	110	1	the	the	DET
ajfa-93	110	2	mean	mean	ADJ
ajfa-93	110	3	market	market	NOUN
ajfa-93	110	4	capitalisation	capitalisation	NOUN
ajfa-93	110	5	for	for	ADP
ajfa-93	110	6	this	this	DET
ajfa-93	110	7	sample	sample	NOUN
ajfa-93	110	8	is	be	AUX
ajfa-93	110	9	m$5,841	m$5,841	NOUN
ajfa-93	110	10	;	;	PUNCT
ajfa-93	110	11	with	with	ADP
ajfa-93	110	12	this	this	DET
ajfa-93	110	13	measure	measure	NOUN
ajfa-93	110	14	of	of	ADP
ajfa-93	110	15	firm	firm	ADJ
ajfa-93	110	16	size	size	NOUN
ajfa-93	110	17	varying	vary	VERB
ajfa-93	110	18	between	between	ADP
ajfa-93	110	19	m$96.2	m$96.2	PROPN
ajfa-93	110	20	and	and	CCONJ
ajfa-93	110	21	m$44,239	m$44,239	PROPN
ajfa-93	110	22	.	.	PROPN
ajfa-93	110	23	table	table	NOUN
ajfa-93	110	24	2	2	NUM
ajfa-93	110	25	reconciliation	reconciliation	NOUN
ajfa-93	110	26	original	original	ADJ
ajfa-93	110	27	data	datum	NOUN
ajfa-93	110	28	set	set	VERB
ajfa-93	110	29	to	to	ADP
ajfa-93	110	30	final	final	ADJ
ajfa-93	110	31	sample	sample	NOUN
ajfa-93	110	32	no	no	INTJ
ajfa-93	110	33	.	.	NOUN
ajfa-93	111	1	2004	2004	NUM
ajfa-93	111	2	s	s	NOUN
ajfa-93	111	3	&	&	CCONJ
ajfa-93	111	4	p	p	PROPN
ajfa-93	111	5	rated	rate	VERB
ajfa-93	111	6	(	(	PUNCT
ajfa-93	111	7	non	non	X
ajfa-93	111	8	banking	banking	NOUN
ajfa-93	111	9	/	/	SYM
ajfa-93	111	10	finance	finance	NOUN
ajfa-93	111	11	)	)	PUNCT
ajfa-93	111	12	82	82	NUM
ajfa-93	111	13	exclusion	exclusion	NOUN
ajfa-93	111	14	reason	reason	NOUN
ajfa-93	111	15	delisted	delist	VERB
ajfa-93	111	16	7	7	NUM
ajfa-93	111	17	no	no	DET
ajfa-93	111	18	information	information	NOUN
ajfa-93	111	19	government	government	NOUN
ajfa-93	111	20	4	4	NUM
ajfa-93	111	21	no	no	DET
ajfa-93	111	22	information	information	NOUN
ajfa-93	111	23	pty	pty	NOUN
ajfa-93	111	24	or	or	CCONJ
ajfa-93	111	25	trust	trust	VERB
ajfa-93	111	26	23	23	NUM
ajfa-93	111	27	subsidiary	subsidiary	NOUN
ajfa-93	111	28	7	7	NUM
ajfa-93	111	29	merger	merger	NOUN
ajfa-93	111	30	/	/	SYM
ajfa-93	111	31	demerger	demerger	NOUN
ajfa-93	111	32	1	1	NUM
ajfa-93	111	33	start	start	VERB
ajfa-93	111	34	up	up	ADP
ajfa-93	111	35	during	during	ADP
ajfa-93	111	36	year	year	NOUN
ajfa-93	111	37	1	1	NUM
ajfa-93	111	38	voluntary	voluntary	ADJ
ajfa-93	111	39	administration	administration	NOUN
ajfa-93	111	40	1	1	NUM
ajfa-93	111	41	final	final	ADJ
ajfa-93	111	42	sample	sample	NOUN
ajfa-93	111	43	38	38	NUM
ajfa-93	111	44	the	the	DET
ajfa-93	111	45	information	information	NOUN
ajfa-93	111	46	for	for	ADP
ajfa-93	111	47	constructing	construct	VERB
ajfa-93	111	48	the	the	DET
ajfa-93	111	49	corporate	corporate	ADJ
ajfa-93	111	50	governance	governance	NOUN
ajfa-93	111	51	index	index	NOUN
ajfa-93	111	52	,	,	PUNCT
ajfa-93	111	53	sustainability	sustainability	NOUN
ajfa-93	111	54	disclosures	disclosure	NOUN
ajfa-93	111	55	,	,	PUNCT
ajfa-93	111	56	and	and	CCONJ
ajfa-93	111	57	for	for	SCONJ
ajfa-93	111	58	the	the	DET
ajfa-93	111	59	control	control	NOUN
ajfa-93	111	60	variables	variable	NOUN
ajfa-93	111	61	was	be	AUX
ajfa-93	111	62	obtained	obtain	VERB
ajfa-93	111	63	from	from	ADP
ajfa-93	111	64	the	the	DET
ajfa-93	111	65	2003	2003	NUM
ajfa-93	111	66	annual	annual	ADJ
ajfa-93	111	67	reports	report	NOUN
ajfa-93	111	68	,	,	PUNCT
ajfa-93	111	69	and	and	CCONJ
ajfa-93	111	70	from	from	ADP
ajfa-93	111	71	the	the	DET
ajfa-93	111	72	databases	database	NOUN
ajfa-93	111	73	aspecthuntley	aspecthuntley	ADV
ajfa-93	111	74	datanalysis	datanalysis	ADV
ajfa-93	111	75	,	,	PUNCT
ajfa-93	111	76	aspecthuntley	aspecthuntley	NOUN
ajfa-93	111	77	finanalysis	finanalysis	NOUN
ajfa-93	111	78	and	and	CCONJ
ajfa-93	111	79	connect	connect	VERB
ajfa-93	111	80	4	4	NUM
ajfa-93	111	81	.	.	PUNCT
ajfa-93	112	1	in	in	ADP
ajfa-93	112	2	2003	2003	NUM
ajfa-93	112	3	there	there	PRON
ajfa-93	112	4	was	be	VERB
ajfa-93	112	5	no	no	DET
ajfa-93	112	6	obligation	obligation	NOUN
ajfa-93	112	7	for	for	SCONJ
ajfa-93	112	8	companies	company	NOUN
ajfa-93	112	9	to	to	PART
ajfa-93	112	10	report	report	VERB
ajfa-93	112	11	their	their	PRON
ajfa-93	112	12	degree	degree	NOUN
ajfa-93	112	13	of	of	ADP
ajfa-93	112	14	compliance	compliance	NOUN
ajfa-93	112	15	with	with	ADP
ajfa-93	112	16	the	the	DET
ajfa-93	112	17	asx	asx	NOUN
ajfa-93	112	18	principles	principle	NOUN
ajfa-93	112	19	,	,	PUNCT
ajfa-93	112	20	therefore	therefore	ADV
ajfa-93	112	21	the	the	DET
ajfa-93	112	22	inclusion	inclusion	NOUN
ajfa-93	112	23	of	of	ADP
ajfa-93	112	24	a	a	DET
ajfa-93	112	25	corporate	corporate	ADJ
ajfa-93	112	26	governance	governance	NOUN
ajfa-93	112	27	statement	statement	NOUN
ajfa-93	112	28	was	be	AUX
ajfa-93	112	29	voluntary	voluntary	ADJ
ajfa-93	112	30	.	.	PUNCT
ajfa-93	113	1	the	the	DET
ajfa-93	113	2	main	main	ADJ
ajfa-93	113	3	areas	area	NOUN
ajfa-93	113	4	of	of	ADP
ajfa-93	113	5	the	the	DET
ajfa-93	113	6	report	report	NOUN
ajfa-93	113	7	where	where	SCONJ
ajfa-93	113	8	such	such	ADJ
ajfa-93	113	9	information	information	NOUN
ajfa-93	113	10	was	be	AUX
ajfa-93	113	11	found	find	VERB
ajfa-93	113	12	were	be	AUX
ajfa-93	113	13	the	the	DET
ajfa-93	113	14	board	board	NOUN
ajfa-93	113	15	of	of	ADP
ajfa-93	113	16	director‟s	director‟s	PROPN
ajfa-93	113	17	report	report	NOUN
ajfa-93	113	18	,	,	PUNCT
ajfa-93	113	19	any	any	DET
ajfa-93	113	20	corporate	corporate	ADJ
ajfa-93	113	21	governance	governance	NOUN
ajfa-93	113	22	statement	statement	NOUN
ajfa-93	113	23	made	make	VERB
ajfa-93	113	24	,	,	PUNCT
ajfa-93	113	25	details	detail	NOUN
ajfa-93	113	26	of	of	ADP
ajfa-93	113	27	directors‟	directors‟	PROPN
ajfa-93	113	28	qualifications	qualification	NOUN
ajfa-93	113	29	,	,	PUNCT
ajfa-93	113	30	experience	experience	NOUN
ajfa-93	113	31	,	,	PUNCT
ajfa-93	113	32	past	past	ADJ
ajfa-93	113	33	employment	employment	NOUN
ajfa-93	113	34	and	and	CCONJ
ajfa-93	113	35	directorships	directorship	NOUN
ajfa-93	113	36	if	if	SCONJ
ajfa-93	113	37	given	give	VERB
ajfa-93	113	38	,	,	PUNCT
ajfa-93	113	39	details	detail	NOUN
ajfa-93	113	40	of	of	ADP
ajfa-93	113	41	shareholdings	shareholding	NOUN
ajfa-93	113	42	and	and	CCONJ
ajfa-93	113	43	directors‟	directors‟	PROPN
ajfa-93	113	44	interests	interest	NOUN
ajfa-93	113	45	and	and	CCONJ
ajfa-93	113	46	notes	note	NOUN
ajfa-93	113	47	to	to	ADP
ajfa-93	113	48	the	the	DET
ajfa-93	113	49	financial	financial	ADJ
ajfa-93	113	50	statements	statement	NOUN
ajfa-93	113	51	,	,	PUNCT
ajfa-93	113	52	particularly	particularly	ADV
ajfa-93	113	53	related	related	ADJ
ajfa-93	113	54	party	party	NOUN
ajfa-93	113	55	transactions	transaction	NOUN
ajfa-93	113	56	.	.	PUNCT
ajfa-93	114	1	2.4	2.4	NUM
ajfa-93	114	2	descriptive	descriptive	ADJ
ajfa-93	114	3	statistics	statistic	NOUN
ajfa-93	114	4	the	the	DET
ajfa-93	114	5	s	s	PROPN
ajfa-93	114	6	&	&	CCONJ
ajfa-93	114	7	p	p	PROPN
ajfa-93	114	8	global	global	ADJ
ajfa-93	114	9	(	(	PUNCT
ajfa-93	114	10	long	long	ADJ
ajfa-93	114	11	term	term	NOUN
ajfa-93	114	12	)	)	PUNCT
ajfa-93	114	13	credit	credit	NOUN
ajfa-93	114	14	rating	rating	NOUN
ajfa-93	114	15	scale	scale	NOUN
ajfa-93	114	16	ranges	range	VERB
ajfa-93	114	17	from	from	ADP
ajfa-93	114	18	aaa	aaa	NOUN
ajfa-93	114	19	(	(	PUNCT
ajfa-93	114	20	extremely	extremely	ADV
ajfa-93	114	21	strong	strong	ADJ
ajfa-93	114	22	capacity	capacity	NOUN
ajfa-93	114	23	)	)	PUNCT
ajfa-93	114	24	to	to	ADP
ajfa-93	114	25	d	d	PROPN
ajfa-93	114	26	(	(	PUNCT
ajfa-93	114	27	payment	payment	NOUN
ajfa-93	114	28	default	default	NOUN
ajfa-93	114	29	)	)	PUNCT
ajfa-93	114	30	.	.	PUNCT
ajfa-93	115	1	this	this	PRON
ajfa-93	115	2	was	be	AUX
ajfa-93	115	3	converted	convert	VERB
ajfa-93	115	4	to	to	ADP
ajfa-93	115	5	a	a	DET
ajfa-93	115	6	22	22	NUM
ajfa-93	115	7	point	point	NOUN
ajfa-93	115	8	ordinal	ordinal	ADJ
ajfa-93	115	9	scale	scale	NOUN
ajfa-93	115	10	such	such	ADJ
ajfa-93	115	11	that	that	DET
ajfa-93	115	12	aaa	aaa	NOUN
ajfa-93	115	13	equated	equate	VERB
ajfa-93	115	14	to	to	ADP
ajfa-93	115	15	22	22	NUM
ajfa-93	115	16	,	,	PUNCT
ajfa-93	115	17	bb	bb	INTJ
ajfa-93	115	18	(	(	PUNCT
ajfa-93	115	19	less	less	ADV
ajfa-93	115	20	vulnerable	vulnerable	ADJ
ajfa-93	115	21	)	)	PUNCT
ajfa-93	115	22	equated	equate	VERB
ajfa-93	115	23	to	to	ADP
ajfa-93	115	24	11	11	NUM
ajfa-93	115	25	and	and	CCONJ
ajfa-93	115	26	d	d	AUX
ajfa-93	115	27	equated	equate	VERB
ajfa-93	115	28	to	to	ADP
ajfa-93	115	29	1	1	NUM
ajfa-93	115	30	(	(	PUNCT
ajfa-93	115	31	see	see	VERB
ajfa-93	115	32	table	table	NOUN
ajfa-93	115	33	3	3	NUM
ajfa-93	115	34	)	)	PUNCT
ajfa-93	115	35	.	.	PUNCT
ajfa-93	116	1	this	this	PRON
ajfa-93	116	2	is	be	AUX
ajfa-93	116	3	similar	similar	ADJ
ajfa-93	116	4	to	to	ADP
ajfa-93	116	5	the	the	DET
ajfa-93	116	6	scale	scale	NOUN
ajfa-93	116	7	used	use	VERB
ajfa-93	116	8	in	in	ADP
ajfa-93	116	9	usa	usa	PROPN
ajfa-93	116	10	studies	study	NOUN
ajfa-93	116	11	by	by	ADP
ajfa-93	116	12	anderson	anderson	PROPN
ajfa-93	116	13	et	et	PROPN
ajfa-93	116	14	al	al	PROPN
ajfa-93	116	15	.	.	PROPN
ajfa-93	117	1	(	(	PUNCT
ajfa-93	117	2	2004	2004	NUM
ajfa-93	117	3	)	)	PUNCT
ajfa-93	117	4	who	who	PRON
ajfa-93	117	5	used	use	VERB
ajfa-93	117	6	credit	credit	NOUN
ajfa-93	117	7	ratings	rating	NOUN
ajfa-93	117	8	to	to	PART
ajfa-93	117	9	control	control	VERB
ajfa-93	117	10	for	for	ADP
ajfa-93	117	11	differences	difference	NOUN
ajfa-93	117	12	in	in	ADP
ajfa-93	117	13	default	default	NOUN
ajfa-93	117	14	risk	risk	NOUN
ajfa-93	117	15	,	,	PUNCT
ajfa-93	117	16	by	by	ADP
ajfa-93	117	17	reeb	reeb	PROPN
ajfa-93	117	18	,	,	PUNCT
ajfa-93	117	19	mansi	mansi	PROPN
ajfa-93	117	20	and	and	CCONJ
ajfa-93	117	21	allee	allee	PROPN
ajfa-93	117	22	(	(	PUNCT
ajfa-93	117	23	2001	2001	NUM
ajfa-93	117	24	)	)	PUNCT
ajfa-93	117	25	,	,	PUNCT
ajfa-93	117	26	and	and	CCONJ
ajfa-93	117	27	by	by	ADP
ajfa-93	117	28	ahmed	ahmed	PROPN
ajfa-93	117	29	et	et	PROPN
ajfa-93	117	30	al	al	PROPN
ajfa-93	117	31	.	.	PROPN
ajfa-93	118	1	(	(	PUNCT
ajfa-93	118	2	2002	2002	NUM
ajfa-93	118	3	)	)	PUNCT
ajfa-93	118	4	;	;	PUNCT
ajfa-93	118	5	although	although	SCONJ
ajfa-93	118	6	this	this	DET
ajfa-93	118	7	latter	latter	ADJ
ajfa-93	118	8	study	study	NOUN
ajfa-93	118	9	followed	follow	VERB
ajfa-93	118	10	compustat‟s	compustat‟s	ADV
ajfa-93	118	11	6	6	NUM
ajfa-93	118	12	insurance	insurance	NOUN
ajfa-93	118	13	and	and	CCONJ
ajfa-93	118	14	financial	financial	ADJ
ajfa-93	118	15	service	service	NOUN
ajfa-93	118	16	companies	company	NOUN
ajfa-93	118	17	were	be	AUX
ajfa-93	118	18	excluded	exclude	VERB
ajfa-93	118	19	,	,	PUNCT
ajfa-93	118	20	as	as	SCONJ
ajfa-93	118	21	the	the	DET
ajfa-93	118	22	regulations	regulation	NOUN
ajfa-93	118	23	affecting	affect	VERB
ajfa-93	118	24	such	such	ADJ
ajfa-93	118	25	companies	company	NOUN
ajfa-93	118	26	regarding	regard	VERB
ajfa-93	118	27	governance	governance	NOUN
ajfa-93	118	28	practices	practice	NOUN
ajfa-93	118	29	are	be	AUX
ajfa-93	118	30	substantially	substantially	ADV
ajfa-93	118	31	different	different	ADJ
ajfa-93	118	32	from	from	ADP
ajfa-93	118	33	other	other	ADJ
ajfa-93	118	34	listed	list	VERB
ajfa-93	118	35	companies	company	NOUN
ajfa-93	118	36	.	.	PUNCT
ajfa-93	119	1	asian	asian	ADJ
ajfa-93	119	2	journal	journal	PROPN
ajfa-93	119	3	of	of	ADP
ajfa-93	119	4	finance	finance	PROPN
ajfa-93	119	5	&	&	CCONJ
ajfa-93	119	6	accounting	accounting	PROPN
ajfa-93	119	7	issn	issn	PROPN
ajfa-93	119	8	1946	1946	NUM
ajfa-93	119	9	-	-	PUNCT
ajfa-93	119	10	052x	052x	NOUN
ajfa-93	119	11	200x	200x	NUM
ajfa-93	119	12	,	,	PUNCT
ajfa-93	119	13	vol	vol	NOUN
ajfa-93	119	14	.	.	PROPN
ajfa-93	119	15	1	1	NUM
ajfa-93	119	16	,	,	PUNCT
ajfa-93	119	17	no	no	INTJ
ajfa-93	119	18	.	.	NOUN
ajfa-93	119	19	1	1	NUM
ajfa-93	119	20	:	:	PUNCT
ajfa-93	119	21	e1	e1	VERB
ajfa-93	119	22	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-93	119	23	42	42	NUM
ajfa-93	119	24	conversion	conversion	NOUN
ajfa-93	119	25	of	of	ADP
ajfa-93	119	26	ratings	rating	NOUN
ajfa-93	119	27	with	with	ADP
ajfa-93	119	28	larger	large	ADJ
ajfa-93	119	29	values	value	NOUN
ajfa-93	119	30	corresponding	correspond	VERB
ajfa-93	119	31	to	to	ADP
ajfa-93	119	32	a	a	DET
ajfa-93	119	33	less	less	ADV
ajfa-93	119	34	favourable	favourable	ADJ
ajfa-93	119	35	debt	debt	NOUN
ajfa-93	119	36	rating	rating	NOUN
ajfa-93	119	37	.	.	PUNCT
ajfa-93	120	1	s	s	PROPN
ajfa-93	120	2	&	&	CCONJ
ajfa-93	120	3	p	p	PROPN
ajfa-93	120	4	defines	define	VERB
ajfa-93	120	5	its	its	PRON
ajfa-93	120	6	issuer	issuer	ADJ
ajfa-93	120	7	credit	credit	NOUN
ajfa-93	120	8	ratings	rating	NOUN
ajfa-93	120	9	as	as	ADP
ajfa-93	120	10	an	an	DET
ajfa-93	120	11	assessment	assessment	NOUN
ajfa-93	120	12	of	of	ADP
ajfa-93	120	13	the	the	DET
ajfa-93	120	14	firm‟s	firm‟s	NOUN
ajfa-93	120	15	financial	financial	ADJ
ajfa-93	120	16	capacity	capacity	NOUN
ajfa-93	120	17	and	and	CCONJ
ajfa-93	120	18	willingness	willingness	NOUN
ajfa-93	120	19	to	to	PART
ajfa-93	120	20	pay	pay	VERB
ajfa-93	120	21	its	its	PRON
ajfa-93	120	22	financial	financial	ADJ
ajfa-93	120	23	obligations	obligation	NOUN
ajfa-93	120	24	,	,	PUNCT
ajfa-93	120	25	„	„	PUNCT
ajfa-93	120	26	based	base	VERB
ajfa-93	120	27	on	on	ADP
ajfa-93	120	28	current	current	ADJ
ajfa-93	120	29	information	information	NOUN
ajfa-93	120	30	furnished	furnish	VERB
ajfa-93	120	31	by	by	ADP
ajfa-93	120	32	obligors	obligor	NOUN
ajfa-93	120	33	or	or	CCONJ
ajfa-93	120	34	obtained	obtain	VERB
ajfa-93	120	35	by	by	ADP
ajfa-93	120	36	standard	standard	PROPN
ajfa-93	120	37	&	&	CCONJ
ajfa-93	120	38	poor‟s	poor‟s	PROPN
ajfa-93	120	39	from	from	ADP
ajfa-93	120	40	other	other	ADJ
ajfa-93	120	41	sources	source	NOUN
ajfa-93	120	42	it	it	PRON
ajfa-93	120	43	considers	consider	VERB
ajfa-93	120	44	reliable	reliable	ADJ
ajfa-93	120	45	.	.	PUNCT
ajfa-93	121	1	7	7	NUM
ajfa-93	121	2	a	a	DET
ajfa-93	121	3	„	„	PUNCT
ajfa-93	121	4	key	key	ADJ
ajfa-93	121	5	dimension‟	dimension‟	NOUN
ajfa-93	121	6	of	of	ADP
ajfa-93	121	7	the	the	DET
ajfa-93	121	8	ratings	rating	NOUN
ajfa-93	121	9	are	be	AUX
ajfa-93	121	10	financial	financial	ADJ
ajfa-93	121	11	ratios	ratio	NOUN
ajfa-93	121	12	for	for	ADP
ajfa-93	121	13	measuring	measure	VERB
ajfa-93	121	14	performance	performance	NOUN
ajfa-93	121	15	and	and	CCONJ
ajfa-93	121	16	financial	financial	ADJ
ajfa-93	121	17	structure	structure	NOUN
ajfa-93	121	18	.	.	PUNCT
ajfa-93	122	1	descriptive	descriptive	ADJ
ajfa-93	122	2	statistics	statistic	NOUN
ajfa-93	122	3	for	for	ADP
ajfa-93	122	4	the	the	DET
ajfa-93	122	5	sample	sample	NOUN
ajfa-93	122	6	are	be	AUX
ajfa-93	122	7	shown	show	VERB
ajfa-93	122	8	in	in	ADP
ajfa-93	122	9	table	table	NOUN
ajfa-93	122	10	4	4	NUM
ajfa-93	122	11	.	.	PUNCT
ajfa-93	123	1	the	the	DET
ajfa-93	123	2	highest	high	ADJ
ajfa-93	123	3	credit	credit	NOUN
ajfa-93	123	4	rating	rating	NOUN
ajfa-93	123	5	in	in	ADP
ajfa-93	123	6	the	the	DET
ajfa-93	123	7	sample	sample	NOUN
ajfa-93	123	8	was	be	AUX
ajfa-93	123	9	aa(sprate	aa(sprate	PROPN
ajfa-93	123	10	=	=	SYM
ajfa-93	123	11	19	19	NUM
ajfa-93	123	12	)	)	PUNCT
ajfa-93	123	13	and	and	CCONJ
ajfa-93	123	14	the	the	DET
ajfa-93	123	15	lowest	low	ADJ
ajfa-93	123	16	was	be	AUX
ajfa-93	123	17	ccc	ccc	NOUN
ajfa-93	123	18	(	(	PUNCT
ajfa-93	123	19	sprate	sprate	NOUN
ajfa-93	123	20	=	=	SYM
ajfa-93	123	21	5	5	NUM
ajfa-93	123	22	)	)	PUNCT
ajfa-93	123	23	,	,	PUNCT
ajfa-93	123	24	while	while	SCONJ
ajfa-93	123	25	the	the	DET
ajfa-93	123	26	median	median	NOUN
ajfa-93	123	27	was	be	AUX
ajfa-93	123	28	bbb+	bbb+	ADJ
ajfa-93	123	29	(	(	PUNCT
ajfa-93	123	30	sprate	sprate	NOUN
ajfa-93	123	31	=	=	SYM
ajfa-93	123	32	15	15	NUM
ajfa-93	123	33	)	)	PUNCT
ajfa-93	123	34	.	.	PUNCT
ajfa-93	124	1	table	table	NOUN
ajfa-93	124	2	4	4	NUM
ajfa-93	124	3	also	also	ADV
ajfa-93	124	4	shows	show	VERB
ajfa-93	124	5	descriptive	descriptive	ADJ
ajfa-93	124	6	statistics	statistic	NOUN
ajfa-93	124	7	for	for	ADP
ajfa-93	124	8	our	our	PRON
ajfa-93	124	9	corporate	corporate	ADJ
ajfa-93	124	10	governance	governance	NOUN
ajfa-93	124	11	index	index	NOUN
ajfa-93	124	12	and	and	CCONJ
ajfa-93	124	13	its	its	PRON
ajfa-93	124	14	key	key	ADJ
ajfa-93	124	15	components	component	NOUN
ajfa-93	124	16	,	,	PUNCT
ajfa-93	124	17	sustainability	sustainability	NOUN
ajfa-93	124	18	disclosures	disclosure	NOUN
ajfa-93	124	19	,	,	PUNCT
ajfa-93	124	20	and	and	CCONJ
ajfa-93	124	21	several	several	ADJ
ajfa-93	124	22	firm	firm	ADJ
ajfa-93	124	23	characteristics	characteristic	NOUN
ajfa-93	124	24	.	.	PUNCT
ajfa-93	125	1	the	the	DET
ajfa-93	125	2	highest	high	ADJ
ajfa-93	125	3	cgscore	cgscore	NOUN
ajfa-93	125	4	was	be	AUX
ajfa-93	125	5	96.9	96.9	NUM
ajfa-93	125	6	%	%	NOUN
ajfa-93	125	7	(	(	PUNCT
ajfa-93	125	8	25.2/26	25.2/26	NOUN
ajfa-93	125	9	)	)	PUNCT
ajfa-93	125	10	,	,	PUNCT
ajfa-93	125	11	while	while	SCONJ
ajfa-93	125	12	the	the	DET
ajfa-93	125	13	lowest	low	ADJ
ajfa-93	125	14	was	be	AUX
ajfa-93	125	15	42.7	42.7	NUM
ajfa-93	125	16	%	%	NOUN
ajfa-93	125	17	(	(	PUNCT
ajfa-93	125	18	11.1/26	11.1/26	NUM
ajfa-93	125	19	)	)	PUNCT
ajfa-93	125	20	.	.	PUNCT
ajfa-93	126	1	the	the	DET
ajfa-93	126	2	mean	mean	ADJ
ajfa-93	126	3	and	and	CCONJ
ajfa-93	126	4	median	median	ADJ
ajfa-93	126	5	corporate	corporate	ADJ
ajfa-93	126	6	governance	governance	NOUN
ajfa-93	126	7	scores	score	NOUN
ajfa-93	126	8	were	be	AUX
ajfa-93	126	9	74.9	74.9	NUM
ajfa-93	126	10	%	%	NOUN
ajfa-93	126	11	and	and	CCONJ
ajfa-93	126	12	80.3	80.3	NUM
ajfa-93	126	13	%	%	NOUN
ajfa-93	126	14	respectively	respectively	ADV
ajfa-93	126	15	.	.	PUNCT
ajfa-93	127	1	the	the	DET
ajfa-93	127	2	mean	mean	ADJ
ajfa-93	127	3	disclosure	disclosure	NOUN
ajfa-93	127	4	score	score	NOUN
ajfa-93	127	5	(	(	PUNCT
ajfa-93	127	6	discl	discl	PROPN
ajfa-93	127	7	)	)	PUNCT
ajfa-93	127	8	was	be	AUX
ajfa-93	127	9	82.7	82.7	NUM
ajfa-93	127	10	%	%	NOUN
ajfa-93	127	11	(	(	PUNCT
ajfa-93	127	12	5.8/7	5.8/7	NUM
ajfa-93	127	13	)	)	PUNCT
ajfa-93	127	14	,	,	PUNCT
ajfa-93	127	15	with	with	ADP
ajfa-93	127	16	a	a	DET
ajfa-93	127	17	wide	wide	ADJ
ajfa-93	127	18	range	range	NOUN
ajfa-93	127	19	between	between	ADP
ajfa-93	127	20	14.3	14.3	NUM
ajfa-93	127	21	%	%	NOUN
ajfa-93	127	22	and	and	CCONJ
ajfa-93	127	23	100	100	NUM
ajfa-93	127	24	%	%	NOUN
ajfa-93	127	25	.	.	PUNCT
ajfa-93	128	1	only	only	ADV
ajfa-93	128	2	one	one	NUM
ajfa-93	128	3	company	company	NOUN
ajfa-93	128	4	made	make	VERB
ajfa-93	128	5	no	no	DET
ajfa-93	128	6	corporate	corporate	ADJ
ajfa-93	128	7	governance	governance	NOUN
ajfa-93	128	8	statement	statement	NOUN
ajfa-93	128	9	and	and	CCONJ
ajfa-93	128	10	18/38	18/38	NUM
ajfa-93	128	11	companies	company	NOUN
ajfa-93	128	12	(	(	PUNCT
ajfa-93	128	13	47	47	NUM
ajfa-93	128	14	%	%	NOUN
ajfa-93	128	15	)	)	PUNCT
ajfa-93	128	16	scored	score	VERB
ajfa-93	128	17	7/7	7/7	NUM
ajfa-93	128	18	.	.	PUNCT
ajfa-93	129	1	the	the	DET
ajfa-93	129	2	mean	mean	PROPN
ajfa-93	129	3	board	board	NOUN
ajfa-93	129	4	size	size	NOUN
ajfa-93	129	5	was	be	AUX
ajfa-93	129	6	8	8	NUM
ajfa-93	129	7	members	member	NOUN
ajfa-93	129	8	and	and	CCONJ
ajfa-93	129	9	3	3	NUM
ajfa-93	129	10	members	member	NOUN
ajfa-93	129	11	for	for	ADP
ajfa-93	129	12	the	the	DET
ajfa-93	129	13	audit	audit	NOUN
ajfa-93	129	14	committee	committee	NOUN
ajfa-93	129	15	.	.	PUNCT
ajfa-93	130	1	the	the	DET
ajfa-93	130	2	mean	mean	ADJ
ajfa-93	130	3	score	score	NOUN
ajfa-93	130	4	for	for	ADP
ajfa-93	130	5	overall	overall	ADJ
ajfa-93	130	6	independence	independence	NOUN
ajfa-93	130	7	(	(	PUNCT
ajfa-93	130	8	indep	indep	NOUN
ajfa-93	130	9	)	)	PUNCT
ajfa-93	130	10	was	be	AUX
ajfa-93	130	11	72	72	NUM
ajfa-93	130	12	%	%	NOUN
ajfa-93	130	13	,	,	PUNCT
ajfa-93	130	14	again	again	ADV
ajfa-93	130	15	with	with	ADP
ajfa-93	130	16	a	a	DET
ajfa-93	130	17	range	range	NOUN
ajfa-93	130	18	from	from	ADP
ajfa-93	130	19	31	31	NUM
ajfa-93	130	20	%	%	NOUN
ajfa-93	130	21	to	to	PART
ajfa-93	130	22	99	99	NUM
ajfa-93	130	23	%	%	NOUN
ajfa-93	130	24	.	.	PUNCT
ajfa-93	131	1	the	the	DET
ajfa-93	131	2	mean	mean	ADJ
ajfa-93	131	3	proportion	proportion	NOUN
ajfa-93	131	4	of	of	ADP
ajfa-93	131	5	board	board	NOUN
ajfa-93	131	6	member	member	NOUN
ajfa-93	131	7	independence	independence	NOUN
ajfa-93	131	8	(	(	PUNCT
ajfa-93	131	9	bdind	bdind	NOUN
ajfa-93	131	10	)	)	PUNCT
ajfa-93	131	11	was	be	AUX
ajfa-93	131	12	49	49	NUM
ajfa-93	131	13	%	%	NOUN
ajfa-93	131	14	,	,	PUNCT
ajfa-93	131	15	with	with	ADP
ajfa-93	131	16	19/38	19/38	NUM
ajfa-93	131	17	companies	company	NOUN
ajfa-93	131	18	(	(	PUNCT
ajfa-93	131	19	50	50	NUM
ajfa-93	131	20	%	%	NOUN
ajfa-93	131	21	)	)	PUNCT
ajfa-93	131	22	having	have	VERB
ajfa-93	131	23	a	a	DET
ajfa-93	131	24	majority	majority	NOUN
ajfa-93	131	25	independent	independent	PROPN
ajfa-93	131	26	board	board	PROPN
ajfa-93	131	27	.	.	PUNCT
ajfa-93	132	1	for	for	ADP
ajfa-93	132	2	audit	audit	NOUN
ajfa-93	132	3	committees	committee	NOUN
ajfa-93	132	4	the	the	DET
ajfa-93	132	5	mean	mean	ADJ
ajfa-93	132	6	proportion	proportion	NOUN
ajfa-93	132	7	of	of	ADP
ajfa-93	132	8	member	member	NOUN
ajfa-93	132	9	independence	independence	NOUN
ajfa-93	132	10	(	(	PUNCT
ajfa-93	132	11	acind	acind	PROPN
ajfa-93	132	12	)	)	PUNCT
ajfa-93	132	13	rose	rise	VERB
ajfa-93	132	14	to	to	ADP
ajfa-93	132	15	68	68	NUM
ajfa-93	132	16	%	%	NOUN
ajfa-93	132	17	,	,	PUNCT
ajfa-93	132	18	with	with	ADP
ajfa-93	132	19	34/38	34/38	NUM
ajfa-93	132	20	(	(	PUNCT
ajfa-93	132	21	89	89	NUM
ajfa-93	132	22	%	%	NOUN
ajfa-93	132	23	)	)	PUNCT
ajfa-93	132	24	companies	company	NOUN
ajfa-93	132	25	assessed	assess	VERB
ajfa-93	132	26	as	as	ADP
ajfa-93	132	27	having	have	VERB
ajfa-93	132	28	a	a	DET
ajfa-93	132	29	majority	majority	NOUN
ajfa-93	132	30	independent	independent	ADJ
ajfa-93	132	31	audit	audit	NOUN
ajfa-93	132	32	committee	committee	NOUN
ajfa-93	132	33	and	and	CCONJ
ajfa-93	132	34	10/38	10/38	NUM
ajfa-93	132	35	(	(	PUNCT
ajfa-93	132	36	26	26	NUM
ajfa-93	132	37	%	%	NOUN
ajfa-93	132	38	)	)	PUNCT
ajfa-93	132	39	fully	fully	ADV
ajfa-93	132	40	independent	independent	ADJ
ajfa-93	132	41	.	.	PUNCT
ajfa-93	133	1	the	the	DET
ajfa-93	133	2	mean	mean	ADJ
ajfa-93	133	3	proportion	proportion	NOUN
ajfa-93	133	4	of	of	ADP
ajfa-93	133	5	non	non	ADJ
ajfa-93	133	6	executive	executive	ADJ
ajfa-93	133	7	directors	director	NOUN
ajfa-93	133	8	on	on	ADP
ajfa-93	133	9	the	the	DET
ajfa-93	133	10	board	board	NOUN
ajfa-93	133	11	was	be	AUX
ajfa-93	133	12	75	75	NUM
ajfa-93	133	13	%	%	NOUN
ajfa-93	133	14	for	for	ADP
ajfa-93	133	15	the	the	DET
ajfa-93	133	16	sample	sample	NOUN
ajfa-93	133	17	,	,	PUNCT
ajfa-93	133	18	with	with	ADP
ajfa-93	133	19	100	100	NUM
ajfa-93	133	20	%	%	NOUN
ajfa-93	133	21	on	on	ADP
ajfa-93	133	22	audit	audit	NOUN
ajfa-93	133	23	committees	committee	NOUN
ajfa-93	133	24	.	.	PUNCT
ajfa-93	134	1	ten	ten	NUM
ajfa-93	134	2	of	of	ADP
ajfa-93	134	3	our	our	PRON
ajfa-93	134	4	sample	sample	NOUN
ajfa-93	134	5	companies	company	NOUN
ajfa-93	134	6	issued	issue	VERB
ajfa-93	134	7	a	a	DET
ajfa-93	134	8	separate	separate	ADJ
ajfa-93	134	9	sustainability	sustainability	NOUN
ajfa-93	134	10	or	or	CCONJ
ajfa-93	134	11	csr	csr	NOUN
ajfa-93	134	12	report	report	NOUN
ajfa-93	134	13	.	.	PUNCT
ajfa-93	135	1	when	when	SCONJ
ajfa-93	135	2	both	both	DET
ajfa-93	135	3	annual	annual	ADJ
ajfa-93	135	4	and	and	CCONJ
ajfa-93	135	5	separate	separate	ADJ
ajfa-93	135	6	report	report	NOUN
ajfa-93	135	7	disclosures	disclosure	NOUN
ajfa-93	135	8	were	be	AUX
ajfa-93	135	9	considered	consider	VERB
ajfa-93	135	10	,	,	PUNCT
ajfa-93	135	11	there	there	PRON
ajfa-93	135	12	was	be	VERB
ajfa-93	135	13	substantial	substantial	ADJ
ajfa-93	135	14	variation	variation	NOUN
ajfa-93	135	15	in	in	ADP
ajfa-93	135	16	the	the	DET
ajfa-93	135	17	extent	extent	NOUN
ajfa-93	135	18	of	of	ADP
ajfa-93	135	19	sustainability	sustainability	NOUN
ajfa-93	135	20	reporting	reporting	NOUN
ajfa-93	135	21	;	;	PUNCT
ajfa-93	135	22	with	with	ADP
ajfa-93	135	23	the	the	DET
ajfa-93	135	24	number	number	NOUN
ajfa-93	135	25	of	of	ADP
ajfa-93	135	26	pages	page	NOUN
ajfa-93	135	27	devoted	devote	VERB
ajfa-93	135	28	to	to	ADP
ajfa-93	135	29	these	these	DET
ajfa-93	135	30	disclosures	disclosure	NOUN
ajfa-93	135	31	ranging	range	VERB
ajfa-93	135	32	between	between	ADP
ajfa-93	135	33	0	0	NUM
ajfa-93	135	34	and	and	CCONJ
ajfa-93	135	35	82	82	NUM
ajfa-93	135	36	,	,	PUNCT
ajfa-93	135	37	with	with	ADP
ajfa-93	135	38	a	a	DET
ajfa-93	135	39	mean	mean	ADJ
ajfa-93	135	40	(	(	PUNCT
ajfa-93	135	41	median	median	NOUN
ajfa-93	135	42	)	)	PUNCT
ajfa-93	135	43	of	of	ADP
ajfa-93	135	44	11.63	11.63	NUM
ajfa-93	135	45	(	(	PUNCT
ajfa-93	135	46	2.00	2.00	NUM
ajfa-93	135	47	)	)	PUNCT
ajfa-93	135	48	.	.	PUNCT
ajfa-93	136	1	table	table	NOUN
ajfa-93	136	2	3	3	NUM
ajfa-93	136	3	–	–	PUNCT
ajfa-93	136	4	credit	credit	NOUN
ajfa-93	136	5	rating	rating	NOUN
ajfa-93	136	6	scale	scale	NOUN
ajfa-93	136	7	rating	rating	NOUN
ajfa-93	136	8	scale	scale	NOUN
ajfa-93	136	9	index	index	NOUN
ajfa-93	136	10	s	s	NOUN
ajfa-93	136	11	&	&	CCONJ
ajfa-93	136	12	p	p	PROPN
ajfa-93	136	13	description	description	NOUN
ajfa-93	136	14	aaaaaa	aaaaaa	NOUN
ajfa-93	136	15	22	22	NUM
ajfa-93	136	16	extremely	extremely	ADV
ajfa-93	136	17	strong	strong	ADJ
ajfa-93	136	18	capacity	capacity	NOUN
ajfa-93	136	19	aaaa	aaaa	NOUN
ajfa-93	136	20	+	+	PROPN
ajfa-93	136	21	+	+	PROPN
ajfa-93	136	22	21	21	NUM
ajfa-93	136	23	aaaa	aaaa	NOUN
ajfa-93	136	24	20	20	NUM
ajfa-93	136	25	very	very	ADV
ajfa-93	136	26	strong	strong	ADJ
ajfa-93	136	27	capacity	capacity	NOUN
ajfa-93	136	28	aaaa-	aaaa-	X
ajfa-93	136	29	19	19	NUM
ajfa-93	136	30	aa	aa	NOUN
ajfa-93	136	31	+	+	PROPN
ajfa-93	136	32	+	+	PROPN
ajfa-93	136	33	18	18	NUM
ajfa-93	136	34	aa	aa	NOUN
ajfa-93	136	35	17	17	NUM
ajfa-93	136	36	strong	strong	ADJ
ajfa-93	136	37	capacity	capacity	NOUN
ajfa-93	136	38	aa-	aa-	X
ajfa-93	136	39	16	16	NUM
ajfa-93	136	40	bbbbbb	bbbbbb	NOUN
ajfa-93	137	1	+	+	PROPN
ajfa-93	137	2	+	+	SYM
ajfa-93	137	3	15	15	NUM
ajfa-93	137	4	bbbbbb	bbbbbb	ADJ
ajfa-93	137	5	14	14	NUM
ajfa-93	137	6	adequate	adequate	ADJ
ajfa-93	137	7	capacity	capacity	NOUN
ajfa-93	137	8	bbbbbb-	bbbbbb-	NOUN
ajfa-93	137	9	13	13	NUM
ajfa-93	137	10	bbbb	bbbb	NOUN
ajfa-93	137	11	+	+	PROPN
ajfa-93	137	12	+	+	PROPN
ajfa-93	137	13	12	12	NUM
ajfa-93	137	14	bbbb	bbbb	ADJ
ajfa-93	137	15	11	11	NUM
ajfa-93	137	16	less	less	ADV
ajfa-93	137	17	vulnerable	vulnerable	ADJ
ajfa-93	137	18	7	7	NUM
ajfa-93	137	19	standard	standard	NOUN
ajfa-93	137	20	&	&	CCONJ
ajfa-93	137	21	poor‟s	poor‟s	PROPN
ajfa-93	137	22	website	website	NOUN
ajfa-93	137	23	:	:	PUNCT
ajfa-93	137	24	http://www2.standardandpoors.com	http://www2.standardandpoors.com	X
ajfa-93	137	25	asian	asian	PROPN
ajfa-93	137	26	journal	journal	PROPN
ajfa-93	137	27	of	of	ADP
ajfa-93	137	28	finance	finance	PROPN
ajfa-93	137	29	&	&	CCONJ
ajfa-93	137	30	accounting	accounting	PROPN
ajfa-93	137	31	issn	issn	PROPN
ajfa-93	137	32	1946	1946	NUM
ajfa-93	137	33	-	-	PUNCT
ajfa-93	137	34	052x	052x	NOUN
ajfa-93	137	35	200x	200x	NUM
ajfa-93	137	36	,	,	PUNCT
ajfa-93	137	37	vol	vol	NOUN
ajfa-93	137	38	.	.	PROPN
ajfa-93	137	39	1	1	NUM
ajfa-93	137	40	,	,	PUNCT
ajfa-93	137	41	no	no	INTJ
ajfa-93	137	42	.	.	NOUN
ajfa-93	137	43	1	1	NUM
ajfa-93	137	44	:	:	PUNCT
ajfa-93	137	45	e1	e1	VERB
ajfa-93	137	46	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-93	137	47	43	43	NUM
ajfa-93	137	48	table	table	NOUN
ajfa-93	137	49	3	3	NUM
ajfa-93	137	50	continued	continue	VERB
ajfa-93	137	51	…	…	PUNCT
ajfa-93	137	52	bbbb-	bbbb-	X
ajfa-93	137	53	10	10	NUM
ajfa-93	137	54	bb	bb	NOUN
ajfa-93	138	1	+	+	NOUN
ajfa-93	138	2	+	+	PROPN
ajfa-93	138	3	9	9	NUM
ajfa-93	138	4	bb	bb	NUM
ajfa-93	138	5	8	8	NUM
ajfa-93	138	6	more	more	ADV
ajfa-93	138	7	vulnerable	vulnerable	ADJ
ajfa-93	138	8	bb	bb	NOUN
ajfa-93	138	9	-	-	PUNCT
ajfa-93	138	10	7	7	NUM
ajfa-93	138	11	cccccc++	cccccc++	NOUN
ajfa-93	138	12	6	6	NUM
ajfa-93	138	13	cccccc	cccccc	NOUN
ajfa-93	138	14	5	5	NUM
ajfa-93	138	15	currently	currently	ADV
ajfa-93	138	16	vulnerable	vulnerable	ADJ
ajfa-93	138	17	cccccc-	cccccc-	NOUN
ajfa-93	138	18	4	4	NUM
ajfa-93	138	19	cccc	cccc	NOUN
ajfa-93	138	20	3	3	NUM
ajfa-93	138	21	currently	currently	ADV
ajfa-93	138	22	highly	highly	ADV
ajfa-93	138	23	vulnerable	vulnerable	ADJ
ajfa-93	138	24	cc	cc	ADP
ajfa-93	138	25	2	2	NUM
ajfa-93	138	26	administration	administration	NOUN
ajfa-93	138	27	/	/	SYM
ajfa-93	138	28	bankruptcy	bankruptcy	NOUN
ajfa-93	138	29	dd	dd	NOUN
ajfa-93	138	30	1	1	NUM
ajfa-93	138	31	payment	payment	NOUN
ajfa-93	138	32	default	default	NOUN
ajfa-93	138	33	notes	note	NOUN
ajfa-93	138	34	:	:	PUNCT
ajfa-93	138	35	global	global	ADJ
ajfa-93	138	36	rating	rating	NOUN
ajfa-93	138	37	scale	scale	NOUN
ajfa-93	138	38	source	source	NOUN
ajfa-93	138	39	:	:	PUNCT
ajfa-93	138	40	presentation	presentation	NOUN
ajfa-93	138	41	made	make	VERB
ajfa-93	138	42	by	by	ADP
ajfa-93	138	43	chris	chris	PROPN
ajfa-93	138	44	dalton	dalton	PROPN
ajfa-93	138	45	,	,	PUNCT
ajfa-93	138	46	managing	managing	NOUN
ajfa-93	138	47	director	director	NOUN
ajfa-93	138	48	,	,	PUNCT
ajfa-93	138	49	standard	standard	PROPN
ajfa-93	138	50	&	&	CCONJ
ajfa-93	138	51	poor‟s	poor‟s	PROPN
ajfa-93	138	52	australia	australia	PROPN
ajfa-93	138	53	&	&	CCONJ
ajfa-93	138	54	new	new	PROPN
ajfa-93	138	55	zealand	zealand	PROPN
ajfa-93	138	56	,	,	PUNCT
ajfa-93	138	57	melbourne	melbourne	PROPN
ajfa-93	138	58	financial	financial	PROPN
ajfa-93	138	59	services	service	NOUN
ajfa-93	138	60	symposium	symposium	NOUN
ajfa-93	138	61	,	,	PUNCT
ajfa-93	138	62	wednesday	wednesday	PROPN
ajfa-93	138	63	17	17	NUM
ajfa-93	138	64	th	th	NUM
ajfa-93	138	65	march	march	PROPN
ajfa-93	138	66	2004	2004	NUM
ajfa-93	138	67	www.users.bigpond.com/bradleyjon/sp/standard_poors.ppt	www.users.bigpond.com/bradleyjon/sp/standard_poors.ppt	VERB
ajfa-93	138	68	standard	standard	PROPN
ajfa-93	138	69	&	&	CCONJ
ajfa-93	138	70	poor‟s	poor‟s	PROPN
ajfa-93	138	71	credit	credit	NOUN
ajfa-93	138	72	ratings	rating	NOUN
ajfa-93	138	73	definitionshttp://w.0.standardandpoors.com.au/	definitionshttp://w.0.standardandpoors.com.au/	NOUN
ajfa-93	138	74	table	table	NOUN
ajfa-93	138	75	4	4	NUM
ajfa-93	138	76	descriptive	descriptive	ADJ
ajfa-93	138	77	statistics	statistic	NOUN
ajfa-93	138	78	for	for	ADP
ajfa-93	138	79	the	the	DET
ajfa-93	138	80	sample	sample	NOUN
ajfa-93	138	81	of	of	ADP
ajfa-93	138	82	38	38	NUM
ajfa-93	138	83	companies	company	NOUN
ajfa-93	138	84	(	(	PUNCT
ajfa-93	138	85	based	base	VERB
ajfa-93	138	86	on	on	ADP
ajfa-93	138	87	2003	2003	NUM
ajfa-93	138	88	data	datum	NOUN
ajfa-93	138	89	)	)	PUNCT
ajfa-93	138	90	measure	measure	NOUN
ajfa-93	138	91	mean	mean	NOUN
ajfa-93	138	92	median	median	ADJ
ajfa-93	138	93	std	std	NOUN
ajfa-93	138	94	dev	dev	PROPN
ajfa-93	138	95	minimum	minimum	ADJ
ajfa-93	138	96	maximum	maximum	ADJ
ajfa-93	138	97	sprate	sprate	NOUN
ajfa-93	138	98	14.454	14.454	NUM
ajfa-93	138	99	15.000	15.000	NUM
ajfa-93	138	100	2.818	2.818	NUM
ajfa-93	138	101	5.000	5.000	NUM
ajfa-93	138	102	19.000	19.000	NUM
ajfa-93	138	103	cgscore	cgscore	NOUN
ajfa-93	138	104	0.749	0.749	NUM
ajfa-93	138	105	0.803	0.803	NUM
ajfa-93	138	106	0.177	0.177	NUM
ajfa-93	138	107	0.427	0.427	NUM
ajfa-93	138	108	0.969	0.969	NUM
ajfa-93	138	109	discl	discl	NOUN
ajfa-93	138	110	0.827	0.827	NUM
ajfa-93	138	111	0.929	0.929	NUM
ajfa-93	138	112	0.235	0.235	NUM
ajfa-93	138	113	0.143	0.143	NUM
ajfa-93	138	114	1.000	1.000	NUM
ajfa-93	138	115	indep	indep	NOUN
ajfa-93	138	116	0.720	0.720	NUM
ajfa-93	138	117	0.774	0.774	NUM
ajfa-93	138	118	0.223	0.223	NUM
ajfa-93	138	119	0.309	0.309	NUM
ajfa-93	138	120	0.989	0.989	NUM
ajfa-93	138	121	audit	audit	NOUN
ajfa-93	138	122	0.799	0.799	NUM
ajfa-93	138	123	0.804	0.804	NUM
ajfa-93	138	124	0.114	0.114	NUM
ajfa-93	138	125	0.500	0.500	NUM
ajfa-93	138	126	0.977	0.977	NUM
ajfa-93	138	127	proc	proc	NOUN
ajfa-93	138	128	0.645	0.645	NUM
ajfa-93	138	129	0.500	0.500	NUM
ajfa-93	138	130	0.347	0.347	NUM
ajfa-93	138	131	0.000	0.000	NUM
ajfa-93	138	132	1.000	1.000	NUM
ajfa-93	138	133	bdind	bdind	NOUN
ajfa-93	138	134	0.493	0.493	NUM
ajfa-93	138	135	0.497	0.497	NUM
ajfa-93	138	136	0.214	0.214	NUM
ajfa-93	138	137	0.000	0.000	NUM
ajfa-93	138	138	0.917	0.917	NUM
ajfa-93	138	139	acind	acind	NOUN
ajfa-93	138	140	0.682	0.682	NUM
ajfa-93	138	141	0.667	0.667	NUM
ajfa-93	138	142	0.264	0.264	NUM
ajfa-93	138	143	0.000	0.000	NUM
ajfa-93	138	144	1.000	1.000	NUM
ajfa-93	138	145	bdsize	bdsize	NOUN
ajfa-93	138	146	7.686	7.686	NUM
ajfa-93	138	147	7.958	7.958	NUM
ajfa-93	138	148	2.427	2.427	NUM
ajfa-93	138	149	4.000	4.000	NUM
ajfa-93	138	150	14.500	14.500	NUM
ajfa-93	138	151	acsize	acsize	NOUN
ajfa-93	138	152	3.189	3.189	NUM
ajfa-93	138	153	3.000	3.000	NUM
ajfa-93	138	154	1.337	1.337	NUM
ajfa-93	138	155	0.000	0.000	NUM
ajfa-93	138	156	6.000	6.000	NUM
ajfa-93	138	157	sust	sust	NOUN
ajfa-93	138	158	11.630	11.630	NUM
ajfa-93	138	159	2.000	2.000	NUM
ajfa-93	138	160	22.488	22.488	NUM
ajfa-93	138	161	0.000	0.000	NUM
ajfa-93	138	162	82.000	82.000	NUM
ajfa-93	138	163	size	size	NOUN
ajfa-93	138	164	8.078	8.078	NUM
ajfa-93	138	165	7.951	7.951	NUM
ajfa-93	138	166	1.273	1.273	NUM
ajfa-93	138	167	4.977	4.977	NUM
ajfa-93	138	168	10.675	10.675	NUM
ajfa-93	138	169	lev	lev	NOUN
ajfa-93	138	170	0.437	0.437	NUM
ajfa-93	138	171	0.266	0.266	NUM
ajfa-93	138	172	0.583	0.583	NUM
ajfa-93	138	173	0.000	0.000	NUM
ajfa-93	138	174	2.650	2.650	NUM
ajfa-93	138	175	grow	grow	VERB
ajfa-93	138	176	0.892	0.892	NUM
ajfa-93	138	177	0.966	0.966	NUM
ajfa-93	138	178	0.151	0.151	NUM
ajfa-93	138	179	0.357	0.357	NUM
ajfa-93	138	180	1.000	1.000	NUM
ajfa-93	138	181	per	per	ADP
ajfa-93	138	182	0.123	0.123	NUM
ajfa-93	138	183	0.106	0.106	NUM
ajfa-93	138	184	0.088	0.088	NUM
ajfa-93	138	185	0.020	0.020	NUM
ajfa-93	138	186	0.528	0.528	NUM
ajfa-93	138	187	notes	note	NOUN
ajfa-93	138	188	:	:	PUNCT
ajfa-93	138	189	sprate	sprate	NOUN
ajfa-93	138	190	=	=	SYM
ajfa-93	138	191	standard	standard	NOUN
ajfa-93	138	192	&	&	CCONJ
ajfa-93	138	193	poor‟s	poor‟s	PROPN
ajfa-93	138	194	credit	credit	NOUN
ajfa-93	138	195	rating	rating	NOUN
ajfa-93	138	196	for	for	ADP
ajfa-93	138	197	the	the	DET
ajfa-93	138	198	firm	firm	NOUN
ajfa-93	138	199	at	at	ADP
ajfa-93	138	200	30	30	NUM
ajfa-93	138	201	june	june	PROPN
ajfa-93	138	202	2004	2004	NUM
ajfa-93	138	203	cgscore	cgscore	NOUN
ajfa-93	138	204	=	=	PUNCT
ajfa-93	138	205	the	the	DET
ajfa-93	138	206	proportional	proportional	ADJ
ajfa-93	138	207	score	score	NOUN
ajfa-93	138	208	(	(	PUNCT
ajfa-93	138	209	x/26	x/26	PROPN
ajfa-93	138	210	)	)	PUNCT
ajfa-93	138	211	on	on	ADP
ajfa-93	138	212	the	the	DET
ajfa-93	138	213	corporate	corporate	ADJ
ajfa-93	138	214	governance	governance	NOUN
ajfa-93	138	215	index	index	NOUN
ajfa-93	138	216	http://www.users.bigpond.com/bradleyjon/sp/standard_poors.ppt	http://www.users.bigpond.com/bradleyjon/sp/standard_poors.ppt	VERB
ajfa-93	138	217	http://www.standardandpoors.com.au/	http://www.standardandpoors.com.au/	PROPN
ajfa-93	138	218	asian	asian	PROPN
ajfa-93	138	219	journal	journal	PROPN
ajfa-93	138	220	of	of	ADP
ajfa-93	138	221	finance	finance	PROPN
ajfa-93	138	222	&	&	CCONJ
ajfa-93	138	223	accounting	accounting	PROPN
ajfa-93	138	224	issn	issn	PROPN
ajfa-93	138	225	1946	1946	NUM
ajfa-93	138	226	-	-	PUNCT
ajfa-93	138	227	052x	052x	NOUN
ajfa-93	138	228	200x	200x	NUM
ajfa-93	138	229	,	,	PUNCT
ajfa-93	138	230	vol	vol	NOUN
ajfa-93	138	231	.	.	PROPN
ajfa-93	139	1	1	1	NUM
ajfa-93	139	2	,	,	PUNCT
ajfa-93	139	3	no	no	INTJ
ajfa-93	139	4	.	.	NOUN
ajfa-93	139	5	1	1	NUM
ajfa-93	139	6	:	:	PUNCT
ajfa-93	139	7	e1	e1	VERB
ajfa-93	139	8	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-93	139	9	44	44	NUM
ajfa-93	139	10	discl	discl	PROPN
ajfa-93	139	11	=	=	PROPN
ajfa-93	139	12	is	be	AUX
ajfa-93	139	13	the	the	DET
ajfa-93	139	14	disclosure	disclosure	NOUN
ajfa-93	139	15	score	score	NOUN
ajfa-93	139	16	from	from	ADP
ajfa-93	139	17	the	the	DET
ajfa-93	139	18	corporate	corporate	ADJ
ajfa-93	139	19	governance	governance	NOUN
ajfa-93	139	20	index	index	NOUN
ajfa-93	139	21	expressed	express	VERB
ajfa-93	139	22	as	as	ADP
ajfa-93	139	23	a	a	DET
ajfa-93	139	24	proportion	proportion	NOUN
ajfa-93	139	25	,	,	PUNCT
ajfa-93	139	26	x/7	x/7	PROPN
ajfa-93	139	27	indep	indep	NOUN
ajfa-93	139	28	=	=	PUNCT
ajfa-93	139	29	is	be	AUX
ajfa-93	139	30	the	the	DET
ajfa-93	139	31	independence	independence	NOUN
ajfa-93	139	32	score	score	NOUN
ajfa-93	139	33	from	from	ADP
ajfa-93	139	34	the	the	DET
ajfa-93	139	35	corporate	corporate	ADJ
ajfa-93	139	36	governance	governance	NOUN
ajfa-93	139	37	index	index	NOUN
ajfa-93	139	38	expressed	express	VERB
ajfa-93	139	39	as	as	ADP
ajfa-93	139	40	a	a	DET
ajfa-93	139	41	proportion	proportion	NOUN
ajfa-93	139	42	,	,	PUNCT
ajfa-93	139	43	x/15	x/15	NOUN
ajfa-93	139	44	audit	audit	NOUN
ajfa-93	139	45	=	=	PUNCT
ajfa-93	139	46	is	be	AUX
ajfa-93	139	47	the	the	DET
ajfa-93	139	48	external	external	ADJ
ajfa-93	139	49	audit	audit	NOUN
ajfa-93	139	50	score	score	NOUN
ajfa-93	139	51	from	from	ADP
ajfa-93	139	52	the	the	DET
ajfa-93	139	53	corporate	corporate	ADJ
ajfa-93	139	54	governance	governance	NOUN
ajfa-93	139	55	index	index	NOUN
ajfa-93	139	56	expressed	express	VERB
ajfa-93	139	57	as	as	ADP
ajfa-93	139	58	a	a	DET
ajfa-93	139	59	proportion	proportion	NOUN
ajfa-93	139	60	,	,	PUNCT
ajfa-93	139	61	x/2	x/2	X
ajfa-93	139	62	proc	proc	NOUN
ajfa-93	139	63	=	=	PUNCT
ajfa-93	139	64	is	be	AUX
ajfa-93	139	65	the	the	DET
ajfa-93	139	66	procedure	procedure	NOUN
ajfa-93	139	67	score	score	NOUN
ajfa-93	139	68	from	from	ADP
ajfa-93	139	69	the	the	DET
ajfa-93	139	70	corporate	corporate	ADJ
ajfa-93	139	71	governance	governance	NOUN
ajfa-93	139	72	index	index	NOUN
ajfa-93	139	73	expressed	express	VERB
ajfa-93	139	74	as	as	ADP
ajfa-93	139	75	a	a	DET
ajfa-93	139	76	proportion	proportion	NOUN
ajfa-93	139	77	,	,	PUNCT
ajfa-93	139	78	x/2	x/2	PUNCT
ajfa-93	139	79	bdind	bdind	NOUN
ajfa-93	139	80	=	=	PUNCT
ajfa-93	139	81	the	the	DET
ajfa-93	139	82	proportion	proportion	NOUN
ajfa-93	139	83	of	of	ADP
ajfa-93	139	84	independent	independent	ADJ
ajfa-93	139	85	directors	director	NOUN
ajfa-93	139	86	on	on	ADP
ajfa-93	139	87	the	the	DET
ajfa-93	139	88	board	board	NOUN
ajfa-93	139	89	during	during	ADP
ajfa-93	139	90	the	the	DET
ajfa-93	139	91	annual	annual	ADJ
ajfa-93	139	92	report	report	NOUN
ajfa-93	139	93	period	period	NOUN
ajfa-93	139	94	acind	acind	ADJ
ajfa-93	139	95	=	=	PUNCT
ajfa-93	140	1	the	the	DET
ajfa-93	140	2	proportion	proportion	NOUN
ajfa-93	140	3	of	of	ADP
ajfa-93	140	4	independent	independent	ADJ
ajfa-93	140	5	directors	director	NOUN
ajfa-93	140	6	on	on	ADP
ajfa-93	140	7	the	the	DET
ajfa-93	140	8	audit	audit	NOUN
ajfa-93	140	9	committee	committee	NOUN
ajfa-93	140	10	during	during	ADP
ajfa-93	140	11	the	the	DET
ajfa-93	140	12	annual	annual	ADJ
ajfa-93	140	13	report	report	NOUN
ajfa-93	140	14	period	period	NOUN
ajfa-93	140	15	bdsize	bdsize	NOUN
ajfa-93	141	1	=	=	PUNCT
ajfa-93	141	2	the	the	DET
ajfa-93	141	3	mean	mean	ADJ
ajfa-93	141	4	number	number	NOUN
ajfa-93	141	5	of	of	ADP
ajfa-93	141	6	directors	director	NOUN
ajfa-93	141	7	on	on	ADP
ajfa-93	141	8	the	the	DET
ajfa-93	141	9	board	board	NOUN
ajfa-93	141	10	during	during	ADP
ajfa-93	141	11	the	the	DET
ajfa-93	141	12	annual	annual	ADJ
ajfa-93	141	13	report	report	NOUN
ajfa-93	141	14	period	period	NOUN
ajfa-93	141	15	acsize	acsize	NOUN
ajfa-93	141	16	=	=	PUNCT
ajfa-93	141	17	the	the	DET
ajfa-93	141	18	mean	mean	ADJ
ajfa-93	141	19	number	number	NOUN
ajfa-93	141	20	of	of	ADP
ajfa-93	141	21	directors	director	NOUN
ajfa-93	141	22	on	on	ADP
ajfa-93	141	23	the	the	DET
ajfa-93	141	24	audit	audit	NOUN
ajfa-93	141	25	committee	committee	NOUN
ajfa-93	141	26	during	during	ADP
ajfa-93	141	27	the	the	DET
ajfa-93	141	28	annual	annual	ADJ
ajfa-93	141	29	report	report	NOUN
ajfa-93	141	30	period	period	NOUN
ajfa-93	141	31	sust	sust	NOUN
ajfa-93	141	32	=	=	PUNCT
ajfa-93	141	33	total	total	ADJ
ajfa-93	141	34	number	number	NOUN
ajfa-93	141	35	of	of	ADP
ajfa-93	141	36	pages	page	NOUN
ajfa-93	141	37	devoted	devote	VERB
ajfa-93	141	38	to	to	ADP
ajfa-93	141	39	sustainability	sustainability	NOUN
ajfa-93	141	40	reporting	reporting	NOUN
ajfa-93	141	41	size	size	NOUN
ajfa-93	141	42	=	=	SYM
ajfa-93	141	43	natural	natural	ADJ
ajfa-93	141	44	log	log	NOUN
ajfa-93	141	45	of	of	ADP
ajfa-93	141	46	book	book	NOUN
ajfa-93	141	47	value	value	NOUN
ajfa-93	141	48	of	of	ADP
ajfa-93	141	49	assets	asset	NOUN
ajfa-93	141	50	lev	lev	NOUN
ajfa-93	141	51	=	=	SYM
ajfa-93	141	52	book	book	NOUN
ajfa-93	141	53	value	value	NOUN
ajfa-93	141	54	long	long	ADJ
ajfa-93	141	55	term	term	NOUN
ajfa-93	141	56	debt	debt	NOUN
ajfa-93	141	57	/	/	SYM
ajfa-93	141	58	market	market	NOUN
ajfa-93	141	59	value	value	NOUN
ajfa-93	141	60	common	common	ADJ
ajfa-93	141	61	equity	equity	NOUN
ajfa-93	141	62	end	end	NOUN
ajfa-93	141	63	of	of	ADP
ajfa-93	141	64	year	year	NOUN
ajfa-93	141	65	grow	grow	VERB
ajfa-93	141	66	=	=	NOUN
ajfa-93	141	67	measure	measure	NOUN
ajfa-93	141	68	for	for	ADP
ajfa-93	141	69	growth	growth	NOUN
ajfa-93	141	70	:	:	PUNCT
ajfa-93	141	71	proportion	proportion	NOUN
ajfa-93	141	72	of	of	ADP
ajfa-93	141	73	tangible	tangible	ADJ
ajfa-93	141	74	assets	asset	NOUN
ajfa-93	141	75	to	to	AUX
ajfa-93	141	76	total	total	VERB
ajfa-93	141	77	assets	asset	NOUN
ajfa-93	141	78	per	per	ADP
ajfa-93	141	79	=	=	NOUN
ajfa-93	141	80	ratio	ratio	NOUN
ajfa-93	141	81	of	of	ADP
ajfa-93	141	82	cash	cash	NOUN
ajfa-93	141	83	flows	flow	NOUN
ajfa-93	141	84	(	(	PUNCT
ajfa-93	141	85	ebitda	ebitda	NOUN
ajfa-93	141	86	)	)	PUNCT
ajfa-93	141	87	to	to	ADP
ajfa-93	141	88	total	total	ADJ
ajfa-93	141	89	assets	asset	NOUN
ajfa-93	141	90	,	,	PUNCT
ajfa-93	141	91	where	where	SCONJ
ajfa-93	141	92	ebitda	ebitda	NOUN
ajfa-93	141	93	is	be	AUX
ajfa-93	141	94	earnings	earning	NOUN
ajfa-93	141	95	before	before	ADP
ajfa-93	141	96	interest	interest	NOUN
ajfa-93	141	97	,	,	PUNCT
ajfa-93	141	98	tax	tax	NOUN
ajfa-93	141	99	,	,	PUNCT
ajfa-93	141	100	depreciation	depreciation	NOUN
ajfa-93	141	101	and	and	CCONJ
ajfa-93	141	102	amortisation	amortisation	NOUN
ajfa-93	141	103	.	.	PUNCT
ajfa-93	142	1	all	all	DET
ajfa-93	142	2	38	38	NUM
ajfa-93	142	3	companies	company	NOUN
ajfa-93	142	4	in	in	ADP
ajfa-93	142	5	the	the	DET
ajfa-93	142	6	sample	sample	NOUN
ajfa-93	142	7	were	be	AUX
ajfa-93	142	8	audited	audit	VERB
ajfa-93	142	9	by	by	ADP
ajfa-93	142	10	one	one	NUM
ajfa-93	142	11	of	of	ADP
ajfa-93	142	12	the	the	DET
ajfa-93	142	13	„	„	PUNCT
ajfa-93	142	14	big	big	ADJ
ajfa-93	142	15	4‟	4‟	ADJ
ajfa-93	142	16	audit	audit	NOUN
ajfa-93	142	17	firms	firm	NOUN
ajfa-93	142	18	,	,	PUNCT
ajfa-93	142	19	so	so	SCONJ
ajfa-93	142	20	any	any	DET
ajfa-93	142	21	variation	variation	NOUN
ajfa-93	142	22	in	in	ADP
ajfa-93	142	23	audit	audit	NOUN
ajfa-93	142	24	score	score	NOUN
ajfa-93	142	25	was	be	AUX
ajfa-93	142	26	in	in	ADP
ajfa-93	142	27	respect	respect	NOUN
ajfa-93	142	28	of	of	ADP
ajfa-93	142	29	the	the	DET
ajfa-93	142	30	relative	relative	ADJ
ajfa-93	142	31	proportion	proportion	NOUN
ajfa-93	142	32	of	of	ADP
ajfa-93	142	33	audit	audit	NOUN
ajfa-93	142	34	/	/	SYM
ajfa-93	142	35	non	non	ADJ
ajfa-93	142	36	audit	audit	NOUN
ajfa-93	142	37	related	relate	VERB
ajfa-93	142	38	fees	fee	NOUN
ajfa-93	142	39	paid	pay	VERB
ajfa-93	142	40	to	to	ADP
ajfa-93	142	41	the	the	DET
ajfa-93	142	42	audit	audit	NOUN
ajfa-93	142	43	firm	firm	NOUN
ajfa-93	142	44	during	during	ADP
ajfa-93	142	45	the	the	DET
ajfa-93	142	46	year	year	NOUN
ajfa-93	142	47	.	.	PUNCT
ajfa-93	143	1	one	one	NUM
ajfa-93	143	2	firm	firm	NOUN
ajfa-93	143	3	provided	provide	VERB
ajfa-93	143	4	no	no	DET
ajfa-93	143	5	breakdown	breakdown	NOUN
ajfa-93	143	6	of	of	ADP
ajfa-93	143	7	audit	audit	NOUN
ajfa-93	143	8	firm	firm	NOUN
ajfa-93	143	9	fees	fee	NOUN
ajfa-93	143	10	,	,	PUNCT
ajfa-93	143	11	(	(	PUNCT
ajfa-93	143	12	and	and	CCONJ
ajfa-93	143	13	therefore	therefore	ADV
ajfa-93	143	14	scored	score	VERB
ajfa-93	143	15	1/2	1/2	NUM
ajfa-93	143	16	for	for	ADP
ajfa-93	143	17	having	have	VERB
ajfa-93	143	18	a	a	DET
ajfa-93	143	19	big	big	ADJ
ajfa-93	143	20	4	4	NUM
ajfa-93	143	21	audit	audit	NOUN
ajfa-93	143	22	firm	firm	NOUN
ajfa-93	143	23	only	only	ADV
ajfa-93	143	24	)	)	PUNCT
ajfa-93	143	25	,	,	PUNCT
ajfa-93	143	26	otherwise	otherwise	ADV
ajfa-93	143	27	the	the	DET
ajfa-93	143	28	minimum	minimum	ADJ
ajfa-93	143	29	proportion	proportion	NOUN
ajfa-93	143	30	of	of	ADP
ajfa-93	143	31	audit	audit	NOUN
ajfa-93	143	32	/	/	SYM
ajfa-93	143	33	non	non	NOUN
ajfa-93	143	34	audit	audit	NOUN
ajfa-93	143	35	fees	fee	NOUN
ajfa-93	143	36	was	be	AUX
ajfa-93	143	37	16	16	NUM
ajfa-93	143	38	%	%	NOUN
ajfa-93	143	39	and	and	CCONJ
ajfa-93	143	40	the	the	DET
ajfa-93	143	41	maximum	maximum	ADJ
ajfa-93	143	42	95	95	NUM
ajfa-93	143	43	%	%	NOUN
ajfa-93	143	44	,	,	PUNCT
ajfa-93	143	45	with	with	ADP
ajfa-93	143	46	a	a	DET
ajfa-93	143	47	mean	mean	NOUN
ajfa-93	143	48	of	of	ADP
ajfa-93	143	49	61	61	NUM
ajfa-93	143	50	%	%	NOUN
ajfa-93	143	51	.	.	PUNCT
ajfa-93	144	1	firms	firm	NOUN
ajfa-93	144	2	were	be	AUX
ajfa-93	144	3	more	more	ADV
ajfa-93	144	4	likely	likely	ADJ
ajfa-93	144	5	to	to	PART
ajfa-93	144	6	have	have	VERB
ajfa-93	144	7	a	a	DET
ajfa-93	144	8	code	code	NOUN
ajfa-93	144	9	of	of	ADP
ajfa-93	144	10	conduct	conduct	NOUN
ajfa-93	144	11	(	(	PUNCT
ajfa-93	144	12	31/38	31/38	NUM
ajfa-93	144	13	firms	firm	NOUN
ajfa-93	144	14	or	or	CCONJ
ajfa-93	144	15	82	82	NUM
ajfa-93	144	16	%	%	NOUN
ajfa-93	144	17	)	)	PUNCT
ajfa-93	144	18	than	than	ADP
ajfa-93	144	19	a	a	DET
ajfa-93	144	20	board	board	NOUN
ajfa-93	144	21	charter	charter	NOUN
ajfa-93	144	22	explicitly	explicitly	ADV
ajfa-93	144	23	outlining	outline	VERB
ajfa-93	144	24	the	the	DET
ajfa-93	144	25	role	role	NOUN
ajfa-93	144	26	of	of	ADP
ajfa-93	144	27	the	the	DET
ajfa-93	144	28	board	board	NOUN
ajfa-93	144	29	(	(	PUNCT
ajfa-93	144	30	18/38	18/38	NUM
ajfa-93	144	31	or	or	CCONJ
ajfa-93	144	32	47	47	NUM
ajfa-93	144	33	%	%	NOUN
ajfa-93	144	34	)	)	PUNCT
ajfa-93	144	35	.	.	PUNCT
ajfa-93	145	1	many	many	ADJ
ajfa-93	145	2	of	of	ADP
ajfa-93	145	3	the	the	DET
ajfa-93	145	4	companies	company	NOUN
ajfa-93	145	5	,	,	PUNCT
ajfa-93	145	6	however	however	ADV
ajfa-93	145	7	,	,	PUNCT
ajfa-93	145	8	had	have	AUX
ajfa-93	145	9	introduced	introduce	VERB
ajfa-93	145	10	a	a	DET
ajfa-93	145	11	charter	charter	NOUN
ajfa-93	145	12	since	since	SCONJ
ajfa-93	145	13	the	the	DET
ajfa-93	145	14	2003	2003	NUM
ajfa-93	145	15	year	year	NOUN
ajfa-93	145	16	end	end	NOUN
ajfa-93	145	17	or	or	CCONJ
ajfa-93	145	18	stated	state	VERB
ajfa-93	145	19	that	that	SCONJ
ajfa-93	145	20	they	they	PRON
ajfa-93	145	21	were	be	AUX
ajfa-93	145	22	reviewing	review	VERB
ajfa-93	145	23	corporate	corporate	ADJ
ajfa-93	145	24	governance	governance	NOUN
ajfa-93	145	25	procedures	procedure	NOUN
ajfa-93	145	26	in	in	ADP
ajfa-93	145	27	the	the	DET
ajfa-93	145	28	light	light	NOUN
ajfa-93	145	29	of	of	ADP
ajfa-93	145	30	the	the	DET
ajfa-93	145	31	asx	asx	NOUN
ajfa-93	145	32	principles	principle	NOUN
ajfa-93	145	33	and	and	CCONJ
ajfa-93	145	34	intended	intend	VERB
ajfa-93	145	35	introducing	introduce	VERB
ajfa-93	145	36	one	one	NUM
ajfa-93	145	37	for	for	ADP
ajfa-93	145	38	2004	2004	NUM
ajfa-93	145	39	.	.	PUNCT
ajfa-93	146	1	3	3	X
ajfa-93	146	2	.	.	X
ajfa-93	146	3	analysis	analysis	NOUN
ajfa-93	146	4	the	the	DET
ajfa-93	146	5	following	follow	VERB
ajfa-93	146	6	model	model	NOUN
ajfa-93	146	7	(	(	PUNCT
ajfa-93	146	8	model	model	NOUN
ajfa-93	146	9	1	1	NUM
ajfa-93	146	10	)	)	PUNCT
ajfa-93	146	11	was	be	AUX
ajfa-93	146	12	used	use	VERB
ajfa-93	146	13	to	to	PART
ajfa-93	146	14	test	test	VERB
ajfa-93	146	15	hypotheses	hypothesis	NOUN
ajfa-93	146	16	1	1	NUM
ajfa-93	146	17	and	and	CCONJ
ajfa-93	146	18	2	2	NUM
ajfa-93	146	19	that	that	SCONJ
ajfa-93	146	20	a	a	DET
ajfa-93	146	21	firm‟s	firm‟s	NOUN
ajfa-93	146	22	credit	credit	NOUN
ajfa-93	146	23	rating	rating	NOUN
ajfa-93	146	24	is	be	AUX
ajfa-93	146	25	positively	positively	ADV
ajfa-93	146	26	related	relate	VERB
ajfa-93	146	27	to	to	ADP
ajfa-93	146	28	the	the	DET
ajfa-93	146	29	quality	quality	NOUN
ajfa-93	146	30	of	of	ADP
ajfa-93	146	31	its	its	PRON
ajfa-93	146	32	corporate	corporate	ADJ
ajfa-93	146	33	governance	governance	NOUN
ajfa-93	146	34	practices	practice	NOUN
ajfa-93	146	35	and	and	CCONJ
ajfa-93	146	36	the	the	DET
ajfa-93	146	37	voluntary	voluntary	ADJ
ajfa-93	146	38	disclosure	disclosure	NOUN
ajfa-93	146	39	of	of	ADP
ajfa-93	146	40	sustainability	sustainability	NOUN
ajfa-93	146	41	information	information	NOUN
ajfa-93	146	42	:	:	PUNCT
ajfa-93	146	43	spratet+1	spratet+1	X
ajfa-93	146	44	=	=	PUNCT
ajfa-93	146	45	α	α	PROPN
ajfa-93	146	46	+	+	CCONJ
ajfa-93	146	47	β1cgscoret	β1cgscoret	NOUN
ajfa-93	147	1	+	+	NOUN
ajfa-93	147	2	β2sustt	β2sustt	NOUN
ajfa-93	147	3	+	+	NOUN
ajfa-93	147	4	β3sizet	β3sizet	NOUN
ajfa-93	147	5	+	+	CCONJ
ajfa-93	147	6	β4levt	β4levt	VERB
ajfa-93	147	7	+	+	NOUN
ajfa-93	147	8	β5growt	β5growt	NOUN
ajfa-93	147	9	+	+	CCONJ
ajfa-93	147	10	β6pert	β6pert	NOUN
ajfa-93	148	1	+	+	CCONJ
ajfa-93	148	2	μt	μt	NOUN
ajfa-93	148	3	where	where	SCONJ
ajfa-93	148	4	year	year	NOUN
ajfa-93	148	5	t	t	PROPN
ajfa-93	148	6	is	be	AUX
ajfa-93	148	7	2003	2003	NUM
ajfa-93	148	8	,	,	PUNCT
ajfa-93	148	9	spratet+1	spratet+1	PROPN
ajfa-93	148	10	is	be	AUX
ajfa-93	148	11	the	the	DET
ajfa-93	148	12	s	s	PROPN
ajfa-93	148	13	&	&	CCONJ
ajfa-93	148	14	p	p	NOUN
ajfa-93	148	15	credit	credit	NOUN
ajfa-93	148	16	rating	rating	NOUN
ajfa-93	148	17	for	for	ADP
ajfa-93	148	18	the	the	DET
ajfa-93	148	19	firm	firm	NOUN
ajfa-93	148	20	at	at	ADP
ajfa-93	148	21	30	30	NUM
ajfa-93	148	22	june	june	PROPN
ajfa-93	148	23	2004	2004	NUM
ajfa-93	148	24	,	,	PUNCT
ajfa-93	148	25	cgscore	cgscore	NOUN
ajfa-93	148	26	is	be	AUX
ajfa-93	148	27	the	the	DET
ajfa-93	148	28	proportional	proportional	ADJ
ajfa-93	148	29	score	score	NOUN
ajfa-93	148	30	(	(	PUNCT
ajfa-93	148	31	x/26	x/26	PROPN
ajfa-93	148	32	)	)	PUNCT
ajfa-93	148	33	on	on	ADP
ajfa-93	148	34	the	the	DET
ajfa-93	148	35	corporate	corporate	ADJ
ajfa-93	148	36	governance	governance	NOUN
ajfa-93	148	37	index	index	NOUN
ajfa-93	148	38	and	and	CCONJ
ajfa-93	148	39	sust	sust	NOUN
ajfa-93	148	40	is	be	AUX
ajfa-93	148	41	the	the	DET
ajfa-93	148	42	number	number	NOUN
ajfa-93	148	43	of	of	ADP
ajfa-93	148	44	pages	page	NOUN
ajfa-93	148	45	devoted	devote	VERB
ajfa-93	148	46	to	to	ADP
ajfa-93	148	47	sustainability	sustainability	NOUN
ajfa-93	148	48	reporting	reporting	NOUN
ajfa-93	148	49	.	.	PUNCT
ajfa-93	149	1	following	follow	VERB
ajfa-93	149	2	prior	prior	ADJ
ajfa-93	149	3	research	research	NOUN
ajfa-93	149	4	and	and	CCONJ
ajfa-93	149	5	the	the	DET
ajfa-93	149	6	factors	factor	NOUN
ajfa-93	149	7	suggested	suggest	VERB
ajfa-93	149	8	by	by	ADP
ajfa-93	149	9	s	s	PROPN
ajfa-93	149	10	&	&	CCONJ
ajfa-93	149	11	p	p	X
ajfa-93	149	12	,	,	PUNCT
ajfa-93	149	13	several	several	ADJ
ajfa-93	149	14	control	control	NOUN
ajfa-93	149	15	variables	variable	NOUN
ajfa-93	149	16	were	be	AUX
ajfa-93	149	17	also	also	ADV
ajfa-93	149	18	included	include	VERB
ajfa-93	149	19	.	.	PUNCT
ajfa-93	150	1	larger	large	ADJ
ajfa-93	150	2	firms	firm	NOUN
ajfa-93	150	3	and	and	CCONJ
ajfa-93	150	4	higher	high	ADJ
ajfa-93	150	5	performing	perform	VERB
ajfa-93	150	6	firms	firm	NOUN
ajfa-93	150	7	are	be	AUX
ajfa-93	150	8	associated	associate	VERB
ajfa-93	150	9	with	with	ADP
ajfa-93	150	10	lower	low	ADJ
ajfa-93	150	11	risk	risk	NOUN
ajfa-93	150	12	and	and	CCONJ
ajfa-93	150	13	are	be	AUX
ajfa-93	150	14	therefore	therefore	ADV
ajfa-93	150	15	expected	expect	VERB
ajfa-93	150	16	to	to	PART
ajfa-93	150	17	have	have	VERB
ajfa-93	150	18	a	a	DET
ajfa-93	150	19	higher	high	ADJ
ajfa-93	150	20	credit	credit	NOUN
ajfa-93	150	21	rating	rating	NOUN
ajfa-93	150	22	and	and	CCONJ
ajfa-93	150	23	a	a	DET
ajfa-93	150	24	lower	low	ADJ
ajfa-93	150	25	cost	cost	NOUN
ajfa-93	150	26	of	of	ADP
ajfa-93	150	27	debt	debt	NOUN
ajfa-93	150	28	(	(	PUNCT
ajfa-93	150	29	sengupta	sengupta	NOUN
ajfa-93	150	30	,	,	PUNCT
ajfa-93	150	31	1998	1998	NUM
ajfa-93	150	32	;	;	PUNCT
ajfa-93	150	33	bhojraj	bhojraj	PROPN
ajfa-93	150	34	and	and	CCONJ
ajfa-93	150	35	sengupta	sengupta	NOUN
ajfa-93	150	36	,	,	PUNCT
ajfa-93	150	37	2003	2003	NUM
ajfa-93	150	38	;	;	PUNCT
ajfa-93	150	39	anderson	anderson	PROPN
ajfa-93	150	40	et	et	PROPN
ajfa-93	150	41	al	al	PROPN
ajfa-93	150	42	.	.	PROPN
ajfa-93	150	43	2004	2004	NUM
ajfa-93	150	44	;	;	PUNCT
ajfa-93	150	45	balatbat	balatbat	PROPN
ajfa-93	150	46	et	et	PROPN
ajfa-93	150	47	al	al	PROPN
ajfa-93	150	48	.	.	PROPN
ajfa-93	150	49	2004	2004	NUM
ajfa-93	150	50	)	)	PUNCT
ajfa-93	150	51	.	.	PUNCT
ajfa-93	151	1	the	the	DET
ajfa-93	151	2	natural	natural	ADJ
ajfa-93	151	3	log	log	NOUN
ajfa-93	151	4	of	of	ADP
ajfa-93	151	5	book	book	NOUN
ajfa-93	151	6	value	value	NOUN
ajfa-93	151	7	of	of	ADP
ajfa-93	151	8	assets	asset	NOUN
ajfa-93	151	9	captures	capture	VERB
ajfa-93	151	10	firm	firm	ADJ
ajfa-93	151	11	size	size	NOUN
ajfa-93	151	12	(	(	PUNCT
ajfa-93	151	13	size	size	NOUN
ajfa-93	151	14	)	)	PUNCT
ajfa-93	151	15	.	.	PUNCT
ajfa-93	152	1	firm	firm	ADJ
ajfa-93	152	2	performance	performance	NOUN
ajfa-93	152	3	(	(	PUNCT
ajfa-93	152	4	per	per	X
ajfa-93	152	5	)	)	PUNCT
ajfa-93	152	6	is	be	AUX
ajfa-93	152	7	measured	measure	VERB
ajfa-93	152	8	as	as	ADP
ajfa-93	152	9	the	the	DET
ajfa-93	152	10	ratio	ratio	NOUN
ajfa-93	152	11	of	of	ADP
ajfa-93	152	12	cash	cash	NOUN
ajfa-93	152	13	flows	flow	NOUN
ajfa-93	152	14	(	(	PUNCT
ajfa-93	152	15	ebitda	ebitda	NOUN
ajfa-93	152	16	)	)	PUNCT
ajfa-93	152	17	to	to	ADP
ajfa-93	152	18	total	total	ADJ
ajfa-93	152	19	assets	asset	NOUN
ajfa-93	152	20	,	,	PUNCT
ajfa-93	152	21	where	where	SCONJ
ajfa-93	152	22	ebitda	ebitda	NOUN
ajfa-93	152	23	is	be	AUX
ajfa-93	152	24	earnings	earning	NOUN
ajfa-93	152	25	before	before	ADP
ajfa-93	152	26	interest	interest	NOUN
ajfa-93	152	27	,	,	PUNCT
ajfa-93	152	28	tax	tax	NOUN
ajfa-93	152	29	,	,	PUNCT
ajfa-93	152	30	depreciation	depreciation	NOUN
ajfa-93	152	31	and	and	CCONJ
ajfa-93	152	32	amortisation	amortisation	NOUN
ajfa-93	152	33	.	.	PUNCT
ajfa-93	153	1	on	on	ADP
ajfa-93	153	2	the	the	DET
ajfa-93	153	3	other	other	ADJ
ajfa-93	153	4	hand	hand	NOUN
ajfa-93	153	5	,	,	PUNCT
ajfa-93	153	6	high	high	ADJ
ajfa-93	153	7	leverage	leverage	NOUN
ajfa-93	153	8	and	and	CCONJ
ajfa-93	153	9	growth	growth	NOUN
ajfa-93	153	10	firms	firm	NOUN
ajfa-93	153	11	are	be	AUX
ajfa-93	153	12	associated	associate	VERB
ajfa-93	153	13	with	with	ADP
ajfa-93	153	14	higher	high	ADJ
ajfa-93	153	15	risk	risk	NOUN
ajfa-93	153	16	and	and	CCONJ
ajfa-93	153	17	therefore	therefore	ADV
ajfa-93	153	18	a	a	DET
ajfa-93	153	19	higher	high	ADJ
ajfa-93	153	20	asian	asian	ADJ
ajfa-93	153	21	journal	journal	NOUN
ajfa-93	153	22	of	of	ADP
ajfa-93	153	23	finance	finance	PROPN
ajfa-93	153	24	&	&	CCONJ
ajfa-93	153	25	accounting	accounting	PROPN
ajfa-93	153	26	issn	issn	PROPN
ajfa-93	153	27	1946	1946	NUM
ajfa-93	153	28	-	-	PUNCT
ajfa-93	153	29	052x	052x	NOUN
ajfa-93	153	30	200x	200x	NUM
ajfa-93	153	31	,	,	PUNCT
ajfa-93	153	32	vol	vol	NOUN
ajfa-93	153	33	.	.	PROPN
ajfa-93	154	1	1	1	NUM
ajfa-93	154	2	,	,	PUNCT
ajfa-93	154	3	no	no	INTJ
ajfa-93	154	4	.	.	NOUN
ajfa-93	154	5	1	1	NUM
ajfa-93	154	6	:	:	PUNCT
ajfa-93	154	7	e1	e1	VERB
ajfa-93	154	8	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-93	154	9	45	45	NUM
ajfa-93	154	10	cost	cost	NOUN
ajfa-93	154	11	of	of	ADP
ajfa-93	154	12	debt	debt	NOUN
ajfa-93	154	13	and	and	CCONJ
ajfa-93	154	14	a	a	DET
ajfa-93	154	15	lower	low	ADJ
ajfa-93	154	16	credit	credit	NOUN
ajfa-93	154	17	rating	rating	NOUN
ajfa-93	154	18	(	(	PUNCT
ajfa-93	154	19	sengupta	sengupta	NOUN
ajfa-93	154	20	1998	1998	NUM
ajfa-93	154	21	;	;	PUNCT
ajfa-93	154	22	bhojraj	bhojraj	NOUN
ajfa-93	154	23	and	and	CCONJ
ajfa-93	154	24	sengupta	sengupta	NOUN
ajfa-93	154	25	2003	2003	NUM
ajfa-93	154	26	;	;	PUNCT
ajfa-93	154	27	anderson	anderson	PROPN
ajfa-93	154	28	et	et	PROPN
ajfa-93	154	29	al	al	PROPN
ajfa-93	154	30	.	.	PROPN
ajfa-93	154	31	2004	2004	NUM
ajfa-93	154	32	;	;	PUNCT
ajfa-93	154	33	balatbat	balatbat	PROPN
ajfa-93	154	34	et	et	PROPN
ajfa-93	154	35	al	al	PROPN
ajfa-93	154	36	.	.	PROPN
ajfa-93	154	37	2004	2004	NUM
ajfa-93	154	38	)	)	PUNCT
ajfa-93	154	39	.	.	PUNCT
ajfa-93	155	1	book	book	NOUN
ajfa-93	155	2	value	value	NOUN
ajfa-93	155	3	long	long	ADJ
ajfa-93	155	4	term	term	NOUN
ajfa-93	155	5	debt	debt	NOUN
ajfa-93	155	6	/	/	SYM
ajfa-93	155	7	market	market	NOUN
ajfa-93	155	8	value	value	NOUN
ajfa-93	155	9	common	common	ADJ
ajfa-93	155	10	equity	equity	NOUN
ajfa-93	155	11	measures	measure	NOUN
ajfa-93	155	12	leverage	leverage	NOUN
ajfa-93	155	13	(	(	PUNCT
ajfa-93	155	14	lev	lev	NOUN
ajfa-93	155	15	)	)	PUNCT
ajfa-93	155	16	.	.	PUNCT
ajfa-93	156	1	growth	growth	NOUN
ajfa-93	156	2	firms	firm	NOUN
ajfa-93	156	3	(	(	PUNCT
ajfa-93	156	4	grow	grow	VERB
ajfa-93	156	5	)	)	PUNCT
ajfa-93	156	6	are	be	AUX
ajfa-93	156	7	captured	capture	VERB
ajfa-93	156	8	by	by	ADP
ajfa-93	156	9	the	the	DET
ajfa-93	156	10	proportion	proportion	NOUN
ajfa-93	156	11	of	of	ADP
ajfa-93	156	12	tangible	tangible	ADJ
ajfa-93	156	13	assets	asset	NOUN
ajfa-93	156	14	to	to	ADP
ajfa-93	156	15	total	total	ADJ
ajfa-93	156	16	assets	asset	NOUN
ajfa-93	156	17	.	.	PUNCT
ajfa-93	157	1	the	the	DET
ajfa-93	157	2	regression	regression	NOUN
ajfa-93	157	3	results	result	VERB
ajfa-93	157	4	for	for	ADP
ajfa-93	157	5	this	this	DET
ajfa-93	157	6	model	model	NOUN
ajfa-93	157	7	are	be	AUX
ajfa-93	157	8	shown	show	VERB
ajfa-93	157	9	in	in	ADP
ajfa-93	157	10	table	table	NOUN
ajfa-93	157	11	5	5	NUM
ajfa-93	157	12	.	.	PUNCT
ajfa-93	157	13	corporate	corporate	ADJ
ajfa-93	157	14	governance	governance	NOUN
ajfa-93	157	15	index	index	NOUN
ajfa-93	157	16	scores	score	NOUN
ajfa-93	157	17	(	(	PUNCT
ajfa-93	157	18	cgscore	cgscore	NOUN
ajfa-93	157	19	)	)	PUNCT
ajfa-93	157	20	is	be	AUX
ajfa-93	157	21	not	not	PART
ajfa-93	157	22	significantly	significantly	ADV
ajfa-93	157	23	related	relate	VERB
ajfa-93	157	24	to	to	ADP
ajfa-93	157	25	credit	credit	NOUN
ajfa-93	157	26	rating	rating	NOUN
ajfa-93	157	27	.	.	PUNCT
ajfa-93	158	1	indeed	indeed	ADV
ajfa-93	158	2	,	,	PUNCT
ajfa-93	158	3	it	it	PRON
ajfa-93	158	4	is	be	AUX
ajfa-93	158	5	insignificant	insignificant	ADJ
ajfa-93	158	6	in	in	ADP
ajfa-93	158	7	the	the	DET
ajfa-93	158	8	wrong	wrong	ADJ
ajfa-93	158	9	direction	direction	NOUN
ajfa-93	158	10	.	.	PUNCT
ajfa-93	159	1	further	far	ADV
ajfa-93	159	2	,	,	PUNCT
ajfa-93	159	3	sustainability	sustainability	NOUN
ajfa-93	159	4	disclosures	disclosure	NOUN
ajfa-93	159	5	(	(	PUNCT
ajfa-93	159	6	sust	sust	NOUN
ajfa-93	159	7	)	)	PUNCT
ajfa-93	159	8	are	be	AUX
ajfa-93	159	9	not	not	PART
ajfa-93	159	10	significantly	significantly	ADV
ajfa-93	159	11	related	relate	VERB
ajfa-93	159	12	to	to	ADP
ajfa-93	159	13	credit	credit	NOUN
ajfa-93	159	14	rating	rating	NOUN
ajfa-93	159	15	.	.	PUNCT
ajfa-93	160	1	the	the	DET
ajfa-93	160	2	only	only	ADJ
ajfa-93	160	3	significant	significant	ADJ
ajfa-93	160	4	variables	variable	NOUN
ajfa-93	160	5	were	be	AUX
ajfa-93	160	6	size	size	NOUN
ajfa-93	160	7	,	,	PUNCT
ajfa-93	160	8	lev	lev	NOUN
ajfa-93	160	9	and	and	CCONJ
ajfa-93	160	10	grow	grow	VERB
ajfa-93	160	11	.	.	PUNCT
ajfa-93	161	1	size	size	NOUN
ajfa-93	161	2	was	be	AUX
ajfa-93	161	3	positively	positively	ADV
ajfa-93	161	4	related	relate	VERB
ajfa-93	161	5	to	to	ADP
ajfa-93	161	6	credit	credit	NOUN
ajfa-93	161	7	ratings	rating	NOUN
ajfa-93	161	8	and	and	CCONJ
ajfa-93	161	9	leverage	leverage	NOUN
ajfa-93	161	10	negatively	negatively	ADV
ajfa-93	161	11	correlated	correlate	VERB
ajfa-93	161	12	,	,	PUNCT
ajfa-93	161	13	as	as	SCONJ
ajfa-93	161	14	expected	expect	VERB
ajfa-93	161	15	.	.	PUNCT
ajfa-93	162	1	however	however	ADV
ajfa-93	162	2	growth	growth	NOUN
ajfa-93	162	3	was	be	AUX
ajfa-93	162	4	positively	positively	ADV
ajfa-93	162	5	associated	associate	VERB
ajfa-93	162	6	with	with	ADP
ajfa-93	162	7	credit	credit	NOUN
ajfa-93	162	8	ratings	rating	NOUN
ajfa-93	162	9	,	,	PUNCT
ajfa-93	162	10	which	which	PRON
ajfa-93	162	11	is	be	AUX
ajfa-93	162	12	surprising	surprising	ADJ
ajfa-93	162	13	as	as	SCONJ
ajfa-93	162	14	growth	growth	NOUN
ajfa-93	162	15	is	be	AUX
ajfa-93	162	16	generally	generally	ADV
ajfa-93	162	17	associated	associate	VERB
ajfa-93	162	18	with	with	ADP
ajfa-93	162	19	increased	increase	VERB
ajfa-93	162	20	risk	risk	NOUN
ajfa-93	162	21	.	.	PUNCT
ajfa-93	163	1	table	table	NOUN
ajfa-93	163	2	5	5	NUM
ajfa-93	163	3	–	–	PUNCT
ajfa-93	163	4	regression	regression	NOUN
ajfa-93	163	5	results	result	NOUN
ajfa-93	163	6	for	for	ADP
ajfa-93	163	7	the	the	DET
ajfa-93	163	8	sample	sample	NOUN
ajfa-93	163	9	of	of	ADP
ajfa-93	163	10	38	38	NUM
ajfa-93	163	11	asx	asx	NOUN
ajfa-93	163	12	listed	list	VERB
ajfa-93	163	13	companies	company	NOUN
ajfa-93	163	14	(	(	PUNCT
ajfa-93	163	15	dependent	dependent	ADJ
ajfa-93	163	16	variable	variable	NOUN
ajfa-93	163	17	is	be	AUX
ajfa-93	163	18	s	s	PROPN
ajfa-93	163	19	&	&	CCONJ
ajfa-93	163	20	p	p	NOUN
ajfa-93	163	21	rating	rating	NOUN
ajfa-93	163	22	2004	2004	NUM
ajfa-93	163	23	;	;	PUNCT
ajfa-93	163	24	other	other	ADJ
ajfa-93	163	25	variables	variable	NOUN
ajfa-93	163	26	based	base	VERB
ajfa-93	163	27	on	on	ADP
ajfa-93	163	28	2003	2003	NUM
ajfa-93	163	29	annual	annual	ADJ
ajfa-93	163	30	reports	report	NOUN
ajfa-93	163	31	.	.	PUNCT
ajfa-93	164	1	figures	figure	NOUN
ajfa-93	164	2	in	in	ADP
ajfa-93	164	3	parenthesis	parenthesis	NOUN
ajfa-93	164	4	are	be	AUX
ajfa-93	164	5	t	t	PROPN
ajfa-93	164	6	statistics	statistic	NOUN
ajfa-93	164	7	)	)	PUNCT
ajfa-93	164	8	variable	variable	NOUN
ajfa-93	164	9	predicted	predict	VERB
ajfa-93	164	10	sign	sign	NOUN
ajfa-93	164	11	model	model	NOUN
ajfa-93	164	12	1	1	NUM
ajfa-93	164	13	model	model	NOUN
ajfa-93	164	14	2	2	NUM
ajfa-93	164	15	model	model	NOUN
ajfa-93	164	16	3	3	NUM
ajfa-93	164	17	intercept	intercept	NOUN
ajfa-93	164	18	-0.788	-0.788	NOUN
ajfa-93	164	19	(	(	PUNCT
ajfa-93	164	20	-0.212	-0.212	PROPN
ajfa-93	164	21	)	)	PUNCT
ajfa-93	164	22	0.128	0.128	NUM
ajfa-93	164	23	(	(	PUNCT
ajfa-93	164	24	0.027	0.027	NUM
ajfa-93	164	25	)	)	PUNCT
ajfa-93	164	26	1.111	1.111	NUM
ajfa-93	164	27	(	(	PUNCT
ajfa-93	164	28	0.315	0.315	NUM
ajfa-93	164	29	)	)	PUNCT
ajfa-93	164	30	cgscore	cgscore	NOUN
ajfa-93	164	31	+	+	CCONJ
ajfa-93	164	32	-0.317	-0.317	NUM
ajfa-93	164	33	(	(	PUNCT
ajfa-93	164	34	-0.152	-0.152	NOUN
ajfa-93	164	35	)	)	PUNCT
ajfa-93	164	36	sust	sust	NOUN
ajfa-93	165	1	+	+	CCONJ
ajfa-93	165	2	-0.003	-0.003	NOUN
ajfa-93	165	3	(	(	PUNCT
ajfa-93	165	4	-0.192	-0.192	X
ajfa-93	165	5	)	)	PUNCT
ajfa-93	165	6	-0.007	-0.007	PUNCT
ajfa-93	165	7	(	(	PUNCT
ajfa-93	165	8	-0.372	-0.372	PROPN
ajfa-93	165	9	)	)	PUNCT
ajfa-93	165	10	-0.005	-0.005	PRON
ajfa-93	165	11	(	(	PUNCT
ajfa-93	165	12	-0.278	-0.278	PROPN
ajfa-93	165	13	)	)	PUNCT
ajfa-93	165	14	discl	discl	NOUN
ajfa-93	165	15	+	+	CCONJ
ajfa-93	165	16	-1.444	-1.444	NUM
ajfa-93	165	17	(	(	PUNCT
ajfa-93	165	18	-0.653	-0.653	NOUN
ajfa-93	165	19	)	)	PUNCT
ajfa-93	165	20	indep	indep	NOUN
ajfa-93	165	21	+	+	X
ajfa-93	165	22	-0.669	-0.669	NUM
ajfa-93	165	23	(	(	PUNCT
ajfa-93	165	24	-0.310	-0.310	X
ajfa-93	165	25	)	)	PUNCT
ajfa-93	165	26	audit	audit	NOUN
ajfa-93	165	27	+	+	CCONJ
ajfa-93	165	28	-0.735	-0.735	NOUN
ajfa-93	165	29	(	(	PUNCT
ajfa-93	165	30	-0.196	-0.196	ADJ
ajfa-93	165	31	)	)	PUNCT
ajfa-93	165	32	proc	proc	NOUN
ajfa-93	165	33	+	+	NOUN
ajfa-93	165	34	1.350	1.350	NUM
ajfa-93	165	35	(	(	PUNCT
ajfa-93	165	36	1.059	1.059	NUM
ajfa-93	165	37	)	)	PUNCT
ajfa-93	165	38	ceo	ceo	NOUN
ajfa-93	165	39	chair	chair	NOUN
ajfa-93	165	40	+	+	CCONJ
ajfa-93	165	41	-1.576	-1.576	PUNCT
ajfa-93	165	42	(	(	PUNCT
ajfa-93	165	43	-1.666	-1.666	NOUN
ajfa-93	165	44	)	)	PUNCT
ajfa-93	165	45	bdind	bdind	NOUN
ajfa-93	165	46	+	+	CCONJ
ajfa-93	165	47	0.433	0.433	NUM
ajfa-93	165	48	0.211	0.211	NUM
ajfa-93	165	49	bdsize	bdsize	NOUN
ajfa-93	165	50	+	+	CCONJ
ajfa-93	165	51	-0.092	-0.092	PUNCT
ajfa-93	165	52	(	(	PUNCT
ajfa-93	165	53	-0.468	-0.468	NOUN
ajfa-93	165	54	)	)	PUNCT
ajfa-93	165	55	size	size	NOUN
ajfa-93	165	56	+	+	NOUN
ajfa-93	165	57	1.277	1.277	NUM
ajfa-93	165	58	(	(	PUNCT
ajfa-93	165	59	4.160	4.160	NUM
ajfa-93	165	60	)	)	PUNCT
ajfa-93	165	61	*	*	PUNCT
ajfa-93	166	1	*	*	PUNCT
ajfa-93	166	2	1.337	1.337	NUM
ajfa-93	166	3	(	(	PUNCT
ajfa-93	166	4	3.913	3.913	NUM
ajfa-93	166	5	)	)	PUNCT
ajfa-93	166	6	*	*	PUNCT
ajfa-93	167	1	*	*	PUNCT
ajfa-93	167	2	1.308	1.308	NUM
ajfa-93	167	3	(	(	PUNCT
ajfa-93	167	4	3.305	3.305	NUM
ajfa-93	167	5	)	)	PUNCT
ajfa-93	167	6	*	*	PUNCT
ajfa-93	167	7	*	*	PUNCT
ajfa-93	167	8	lev	lev	NOUN
ajfa-93	167	9	_	_	PUNCT
ajfa-93	167	10	-1.306	-1.306	PUNCT
ajfa-93	167	11	(	(	PUNCT
ajfa-93	167	12	-2.073	-2.073	NOUN
ajfa-93	167	13	)	)	PUNCT
ajfa-93	167	14	*	*	PUNCT
ajfa-93	167	15	-1.275	-1.275	PROPN
ajfa-93	167	16	(	(	PUNCT
ajfa-93	167	17	-1.903	-1.903	NOUN
ajfa-93	167	18	)	)	PUNCT
ajfa-93	167	19	*	*	PUNCT
ajfa-93	168	1	-1.519	-1.519	INTJ
ajfa-93	168	2	(	(	PUNCT
ajfa-93	168	3	-2.378	-2.378	PUNCT
ajfa-93	168	4	)	)	PUNCT
ajfa-93	168	5	*	*	PUNCT
ajfa-93	168	6	grow	grow	VERB
ajfa-93	168	7	_	_	NOUN
ajfa-93	168	8	6.889	6.889	NUM
ajfa-93	168	9	(	(	PUNCT
ajfa-93	168	10	2.798	2.798	NUM
ajfa-93	168	11	)	)	PUNCT
ajfa-93	168	12	*	*	PUNCT
ajfa-93	169	1	*	*	PUNCT
ajfa-93	169	2	6.242	6.242	NUM
ajfa-93	169	3	(	(	PUNCT
ajfa-93	169	4	2.456	2.456	NUM
ajfa-93	169	5	)	)	PUNCT
ajfa-93	169	6	*	*	PUNCT
ajfa-93	169	7	5.917	5.917	NUM
ajfa-93	169	8	(	(	PUNCT
ajfa-93	169	9	2.362	2.362	NUM
ajfa-93	169	10	)	)	PUNCT
ajfa-93	169	11	*	*	PUNCT
ajfa-93	169	12	per	per	ADP
ajfa-93	169	13	+	+	X
ajfa-93	169	14	-3.022	-3.022	X
ajfa-93	169	15	(	(	PUNCT
ajfa-93	169	16	-0.730	-0.730	ADJ
ajfa-93	169	17	)	)	PUNCT
ajfa-93	169	18	asian	asian	ADJ
ajfa-93	169	19	journal	journal	NOUN
ajfa-93	169	20	of	of	ADP
ajfa-93	169	21	finance	finance	PROPN
ajfa-93	169	22	&	&	CCONJ
ajfa-93	169	23	accounting	accounting	PROPN
ajfa-93	169	24	issn	issn	PROPN
ajfa-93	169	25	1946	1946	NUM
ajfa-93	169	26	-	-	PUNCT
ajfa-93	169	27	052x	052x	NOUN
ajfa-93	169	28	200x	200x	NUM
ajfa-93	169	29	,	,	PUNCT
ajfa-93	169	30	vol	vol	NOUN
ajfa-93	169	31	.	.	PROPN
ajfa-93	169	32	1	1	NUM
ajfa-93	169	33	,	,	PUNCT
ajfa-93	169	34	no	no	INTJ
ajfa-93	169	35	.	.	NOUN
ajfa-93	169	36	1	1	NUM
ajfa-93	169	37	:	:	PUNCT
ajfa-93	169	38	e1	e1	VERB
ajfa-93	169	39	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-93	169	40	46	46	NUM
ajfa-93	169	41	table	table	NOUN
ajfa-93	169	42	5	5	NUM
ajfa-93	169	43	continued	continued	ADJ
ajfa-93	169	44	…	…	PUNCT
ajfa-93	169	45	adj	adj	X
ajfa-93	169	46	r2	r2	PROPN
ajfa-93	169	47	0.437	0.437	NUM
ajfa-93	169	48	0.412	0.412	NUM
ajfa-93	169	49	0.459	0.459	NUM
ajfa-93	169	50	f	f	PROPN
ajfa-93	169	51	5.780	5.780	NUM
ajfa-93	169	52	*	*	NOUN
ajfa-93	169	53	*	*	PUNCT
ajfa-93	169	54	4.244	4.244	NUM
ajfa-93	169	55	*	*	PUNCT
ajfa-93	169	56	*	*	PUNCT
ajfa-93	170	1	5.485	5.485	NUM
ajfa-93	170	2	*	*	NOUN
ajfa-93	170	3	*	*	NOUN
ajfa-93	170	4	notes	note	NOUN
ajfa-93	170	5	:	:	PUNCT
ajfa-93	170	6	*	*	PUNCT
ajfa-93	170	7	significant	significant	ADJ
ajfa-93	170	8	at	at	ADP
ajfa-93	170	9	<	<	X
ajfa-93	170	10	0.05	0.05	NUM
ajfa-93	170	11	,	,	PUNCT
ajfa-93	170	12	*	*	PUNCT
ajfa-93	170	13	*	*	PUNCT
ajfa-93	170	14	significant	significant	ADJ
ajfa-93	170	15	at	at	ADP
ajfa-93	170	16	<	<	X
ajfa-93	170	17	0.01	0.01	NUM
ajfa-93	170	18	;	;	PUNCT
ajfa-93	170	19	as	as	SCONJ
ajfa-93	170	20	the	the	DET
ajfa-93	170	21	sign	sign	NOUN
ajfa-93	170	22	of	of	ADP
ajfa-93	170	23	the	the	DET
ajfa-93	170	24	variables	variable	NOUN
ajfa-93	170	25	is	be	AUX
ajfa-93	170	26	predicted	predict	VERB
ajfa-93	170	27	,	,	PUNCT
ajfa-93	170	28	the	the	DET
ajfa-93	170	29	p	p	NOUN
ajfa-93	170	30	values	value	NOUN
ajfa-93	170	31	shown	show	VERB
ajfa-93	170	32	are	be	AUX
ajfa-93	170	33	one	one	NUM
ajfa-93	170	34	tailed	tail	VERB
ajfa-93	170	35	ceochair	ceochair	NOUN
ajfa-93	170	36	=	=	PUNCT
ajfa-93	170	37	a	a	DET
ajfa-93	170	38	dichotomous	dichotomous	ADJ
ajfa-93	170	39	variable	variable	NOUN
ajfa-93	170	40	,	,	PUNCT
ajfa-93	170	41	being	be	AUX
ajfa-93	170	42	1	1	NUM
ajfa-93	170	43	if	if	SCONJ
ajfa-93	170	44	the	the	DET
ajfa-93	170	45	ceo	ceo	NOUN
ajfa-93	170	46	position	position	NOUN
ajfa-93	170	47	is	be	AUX
ajfa-93	170	48	separate	separate	ADJ
ajfa-93	170	49	from	from	ADP
ajfa-93	170	50	the	the	DET
ajfa-93	170	51	board	board	NOUN
ajfa-93	170	52	chair	chair	NOUN
ajfa-93	170	53	(	(	PUNCT
ajfa-93	170	54	i.e.	i.e.	X
ajfa-93	170	55	not	not	PART
ajfa-93	170	56	the	the	DET
ajfa-93	170	57	same	same	ADJ
ajfa-93	170	58	director	director	NOUN
ajfa-93	170	59	)	)	PUNCT
ajfa-93	170	60	,	,	PUNCT
ajfa-93	170	61	otherwise	otherwise	ADV
ajfa-93	170	62	0	0	NUM
ajfa-93	170	63	,	,	PUNCT
ajfa-93	170	64	during	during	ADP
ajfa-93	170	65	the	the	DET
ajfa-93	170	66	annual	annual	ADJ
ajfa-93	170	67	report	report	NOUN
ajfa-93	170	68	period	period	NOUN
ajfa-93	170	69	other	other	ADJ
ajfa-93	170	70	variable	variable	ADJ
ajfa-93	170	71	definitions	definition	NOUN
ajfa-93	170	72	are	be	AUX
ajfa-93	170	73	the	the	DET
ajfa-93	170	74	same	same	ADJ
ajfa-93	170	75	as	as	SCONJ
ajfa-93	170	76	shown	show	VERB
ajfa-93	170	77	for	for	ADP
ajfa-93	170	78	table	table	NOUN
ajfa-93	170	79	4	4	NUM
ajfa-93	170	80	table	table	NOUN
ajfa-93	170	81	6	6	NUM
ajfa-93	170	82	–	–	PUNCT
ajfa-93	170	83	pearson	pearson	NOUN
ajfa-93	170	84	and	and	CCONJ
ajfa-93	170	85	spearman	spearman	NOUN
ajfa-93	170	86	correlations	correlation	NOUN
ajfa-93	170	87	for	for	ADP
ajfa-93	170	88	38	38	NUM
ajfa-93	170	89	asx	asx	NOUN
ajfa-93	170	90	listed	list	VERB
ajfa-93	170	91	companies	company	NOUN
ajfa-93	170	92	(	(	PUNCT
ajfa-93	170	93	pearson	pearson	PROPN
ajfa-93	170	94	correlations	correlation	NOUN
ajfa-93	170	95	are	be	AUX
ajfa-93	170	96	above	above	ADP
ajfa-93	170	97	diagonal	diagonal	ADJ
ajfa-93	170	98	;	;	PUNCT
ajfa-93	170	99	p	p	NOUN
ajfa-93	170	100	values	value	NOUN
ajfa-93	170	101	are	be	AUX
ajfa-93	170	102	shown	show	VERB
ajfa-93	170	103	in	in	ADP
ajfa-93	170	104	parenthesis	parenthesis	NOUN
ajfa-93	170	105	)	)	PUNCT
ajfa-93	170	106	s	s	VERB
ajfa-93	170	107	p	p	NOUN
ajfa-93	170	108	r	r	NOUN
ajfa-93	170	109	a	a	DET
ajfa-93	170	110	t	t	NOUN
ajfa-93	170	111	e	e	X
ajfa-93	170	112	c	c	PROPN
ajfa-93	170	113	g	g	PROPN
ajfa-93	170	114	s	s	PROPN
ajfa-93	170	115	c	c	NOUN
ajfa-93	170	116	o	o	NOUN
ajfa-93	170	117	r	r	NOUN
ajfa-93	170	118	e	e	NOUN
ajfa-93	170	119	s	s	VERB
ajfa-93	170	120	u	u	NOUN
ajfa-93	170	121	s	s	PROPN
ajfa-93	170	122	t	t	PROPN
ajfa-93	170	123	d	d	NOUN
ajfa-93	170	124	is	be	AUX
ajfa-93	170	125	c	c	NOUN
ajfa-93	170	126	l	l	NOUN
ajfa-93	170	127	in	in	ADP
ajfa-93	170	128	d	d	PROPN
ajfa-93	170	129	e	e	PROPN
ajfa-93	170	130	p	p	X
ajfa-93	170	131	a	a	DET
ajfa-93	170	132	u	u	NOUN
ajfa-93	171	1	d	d	NOUN
ajfa-93	171	2	it	it	PRON
ajfa-93	171	3	p	p	X
ajfa-93	171	4	r	r	NOUN
ajfa-93	171	5	o	o	NOUN
ajfa-93	171	6	c	c	NOUN
ajfa-93	171	7	c	c	NOUN
ajfa-93	171	8	e	e	NOUN
ajfa-93	172	1	o	o	X
ajfa-93	172	2	c	c	NOUN
ajfa-93	172	3	h	h	NOUN
ajfa-93	172	4	a	a	DET
ajfa-93	172	5	ir	ir	PROPN
ajfa-93	172	6	b	b	PROPN
ajfa-93	172	7	d	d	PROPN
ajfa-93	172	8	in	in	ADP
ajfa-93	172	9	d	d	PROPN
ajfa-93	172	10	b	b	PROPN
ajfa-93	173	1	d	d	X
ajfa-93	173	2	s	s	X
ajfa-93	173	3	iz	iz	INTJ
ajfa-93	173	4	e	e	NOUN
ajfa-93	173	5	s	s	NOUN
ajfa-93	173	6	iz	iz	ADP
ajfa-93	173	7	e	e	NOUN
ajfa-93	173	8	l	l	NOUN
ajfa-93	173	9	e	e	NOUN
ajfa-93	173	10	v	v	NOUN
ajfa-93	173	11	g	g	NOUN
ajfa-93	173	12	r	r	NOUN
ajfa-93	173	13	o	o	NOUN
ajfa-93	173	14	w	w	NOUN
ajfa-93	173	15	p	p	X
ajfa-93	173	16	e	e	PROPN
ajfa-93	174	1	r	r	NOUN
ajfa-93	174	2	s	s	X
ajfa-93	174	3	p	p	NOUN
ajfa-93	174	4	r	r	NOUN
ajfa-93	174	5	a	a	DET
ajfa-93	174	6	t	t	NOUN
ajfa-93	174	7	e	e	NOUN
ajfa-93	174	8	0.049	0.049	NUM
ajfa-93	174	9	(	(	PUNCT
ajfa-93	174	10	0.770	0.770	NUM
ajfa-93	174	11	)	)	PUNCT
ajfa-93	174	12	0.225	0.225	NUM
ajfa-93	174	13	(	(	PUNCT
ajfa-93	174	14	0.175	0.175	NUM
ajfa-93	174	15	)	)	PUNCT
ajfa-93	174	16	-0.169	-0.169	PUNCT
ajfa-93	174	17	(	(	PUNCT
ajfa-93	174	18	0.310	0.310	NUM
ajfa-93	174	19	)	)	PUNCT
ajfa-93	174	20	0.139	0.139	NUM
ajfa-93	174	21	(	(	PUNCT
ajfa-93	174	22	0.406	0.406	NUM
ajfa-93	174	23	)	)	PUNCT
ajfa-93	174	24	0.076	0.076	NUM
ajfa-93	174	25	(	(	PUNCT
ajfa-93	174	26	0.649	0.649	NUM
ajfa-93	174	27	)	)	PUNCT
ajfa-93	174	28	0.020	0.020	NUM
ajfa-93	174	29	(	(	PUNCT
ajfa-93	174	30	0.907	0.907	NUM
ajfa-93	174	31	)	)	PUNCT
ajfa-93	174	32	-0.215	-0.215	X
ajfa-93	174	33	(	(	PUNCT
ajfa-93	174	34	0.194	0.194	NUM
ajfa-93	174	35	)	)	PUNCT
ajfa-93	174	36	0.152	0.152	NUM
ajfa-93	174	37	(	(	PUNCT
ajfa-93	174	38	0.361	0.361	NUM
ajfa-93	174	39	)	)	PUNCT
ajfa-93	174	40	0.325	0.325	NUM
ajfa-93	174	41	*	*	PUNCT
ajfa-93	174	42	(	(	PUNCT
ajfa-93	174	43	0.046	0.046	NUM
ajfa-93	174	44	)	)	PUNCT
ajfa-93	174	45	0.523	0.523	NUM
ajfa-93	174	46	*	*	PUNCT
ajfa-93	174	47	*	*	PUNCT
ajfa-93	174	48	(	(	PUNCT
ajfa-93	174	49	0.001	0.001	NUM
ajfa-93	174	50	)	)	PUNCT
ajfa-93	174	51	-0.362	-0.362	NUM
ajfa-93	174	52	*	*	PUNCT
ajfa-93	174	53	(	(	PUNCT
ajfa-93	174	54	0.026	0.026	NUM
ajfa-93	174	55	)	)	PUNCT
ajfa-93	174	56	0.381	0.381	NUM
ajfa-93	174	57	*	*	PUNCT
ajfa-93	174	58	(	(	PUNCT
ajfa-93	174	59	0.018	0.018	NUM
ajfa-93	174	60	)	)	PUNCT
ajfa-93	174	61	0.053	0.053	NUM
ajfa-93	174	62	(	(	PUNCT
ajfa-93	174	63	0.753	0.753	NUM
ajfa-93	174	64	)	)	PUNCT
ajfa-93	174	65	c	c	PROPN
ajfa-93	175	1	g	g	PROPN
ajfa-93	175	2	s	s	PROPN
ajfa-93	175	3	c	c	NOUN
ajfa-93	175	4	o	o	NOUN
ajfa-93	175	5	r	r	NOUN
ajfa-93	175	6	e	e	X
ajfa-93	175	7	0.053	0.053	NUM
ajfa-93	175	8	(	(	PUNCT
ajfa-93	175	9	0.751	0.751	NUM
ajfa-93	175	10	)	)	PUNCT
ajfa-93	175	11	0.196	0.196	NUM
ajfa-93	175	12	(	(	PUNCT
ajfa-93	175	13	0.238	0.238	NUM
ajfa-93	175	14	)	)	PUNCT
ajfa-93	175	15	0.711	0.711	NUM
ajfa-93	175	16	*	*	NOUN
ajfa-93	175	17	*	*	PUNCT
ajfa-93	175	18	(	(	PUNCT
ajfa-93	175	19	0.000	0.000	NUM
ajfa-93	175	20	)	)	PUNCT
ajfa-93	175	21	0.918	0.918	NUM
ajfa-93	175	22	*	*	PUNCT
ajfa-93	175	23	*	*	PUNCT
ajfa-93	175	24	(	(	PUNCT
ajfa-93	175	25	0.000	0.000	NUM
ajfa-93	175	26	)	)	PUNCT
ajfa-93	175	27	-0.009	-0.009	NOUN
ajfa-93	175	28	(	(	PUNCT
ajfa-93	175	29	0.957	0.957	NUM
ajfa-93	175	30	)	)	PUNCT
ajfa-93	175	31	0.529	0.529	NUM
ajfa-93	175	32	(	(	PUNCT
ajfa-93	175	33	0.001	0.001	NUM
ajfa-93	175	34	)	)	PUNCT
ajfa-93	175	35	0.587	0.587	NUM
ajfa-93	175	36	*	*	PUNCT
ajfa-93	175	37	*	*	PUNCT
ajfa-93	175	38	(	(	PUNCT
ajfa-93	175	39	0.000	0.000	NUM
ajfa-93	175	40	)	)	PUNCT
ajfa-93	175	41	0.681	0.681	NUM
ajfa-93	175	42	*	*	PUNCT
ajfa-93	175	43	*	*	PUNCT
ajfa-93	175	44	(	(	PUNCT
ajfa-93	175	45	0.000	0.000	NUM
ajfa-93	175	46	)	)	PUNCT
ajfa-93	175	47	0.298	0.298	NUM
ajfa-93	175	48	(	(	PUNCT
ajfa-93	175	49	0.069	0.069	NUM
ajfa-93	175	50	)	)	PUNCT
ajfa-93	175	51	0.244	0.244	NUM
ajfa-93	175	52	(	(	PUNCT
ajfa-93	175	53	0.139	0.139	NUM
ajfa-93	175	54	)	)	PUNCT
ajfa-93	175	55	-0.095	-0.095	NUM
ajfa-93	175	56	(	(	PUNCT
ajfa-93	175	57	0.569	0.569	NUM
ajfa-93	175	58	)	)	PUNCT
ajfa-93	175	59	-0.194	-0.194	PUNCT
ajfa-93	175	60	(	(	PUNCT
ajfa-93	175	61	0.243	0.243	NUM
ajfa-93	175	62	)	)	PUNCT
ajfa-93	175	63	0.220	0.220	NUM
ajfa-93	175	64	(	(	PUNCT
ajfa-93	175	65	0.185	0.185	NUM
ajfa-93	175	66	)	)	PUNCT
ajfa-93	175	67	s	s	PART
ajfa-93	175	68	u	u	NOUN
ajfa-93	175	69	s	s	PROPN
ajfa-93	175	70	t	t	PROPN
ajfa-93	175	71	0.400	0.400	NUM
ajfa-93	175	72	*	*	PUNCT
ajfa-93	175	73	(	(	PUNCT
ajfa-93	175	74	0.013	0.013	NUM
ajfa-93	175	75	)	)	PUNCT
ajfa-93	175	76	0.595	0.595	NUM
ajfa-93	175	77	*	*	PUNCT
ajfa-93	176	1	*	*	PUNCT
ajfa-93	176	2	(	(	PUNCT
ajfa-93	176	3	0.000	0.000	NUM
ajfa-93	176	4	)	)	PUNCT
ajfa-93	176	5	-0.024	-0.024	X
ajfa-93	176	6	(	(	PUNCT
ajfa-93	176	7	0.886	0.886	NUM
ajfa-93	176	8	)	)	PUNCT
ajfa-93	176	9	0.286	0.286	NUM
ajfa-93	176	10	(	(	PUNCT
ajfa-93	176	11	0.082	0.082	NUM
ajfa-93	176	12	)	)	PUNCT
ajfa-93	176	13	-0.271	-0.271	NOUN
ajfa-93	176	14	(	(	PUNCT
ajfa-93	176	15	0.100	0.100	NUM
ajfa-93	176	16	)	)	PUNCT
ajfa-93	176	17	0.056	0.056	NUM
ajfa-93	176	18	(	(	PUNCT
ajfa-93	176	19	0.741	0.741	NUM
ajfa-93	176	20	)	)	PUNCT
ajfa-93	176	21	0.023	0.023	NUM
ajfa-93	176	22	(	(	PUNCT
ajfa-93	176	23	0.892	0.892	NUM
ajfa-93	176	24	)	)	PUNCT
ajfa-93	176	25	0.315	0.315	NUM
ajfa-93	176	26	(	(	PUNCT
ajfa-93	176	27	0.054	0.054	NUM
ajfa-93	176	28	)	)	PUNCT
ajfa-93	176	29	0.315	0.315	NUM
ajfa-93	176	30	(	(	PUNCT
ajfa-93	176	31	0.054	0.054	NUM
ajfa-93	176	32	)	)	PUNCT
ajfa-93	176	33	0.409	0.409	NUM
ajfa-93	176	34	*	*	SYM
ajfa-93	176	35	(	(	PUNCT
ajfa-93	176	36	0.011	0.011	NUM
ajfa-93	176	37	)	)	PUNCT
ajfa-93	176	38	-0.174	-0.174	PUNCT
ajfa-93	176	39	(	(	PUNCT
ajfa-93	176	40	0.295	0.295	NUM
ajfa-93	176	41	)	)	PUNCT
ajfa-93	176	42	-0.044	-0.044	PROPN
ajfa-93	176	43	(	(	PUNCT
ajfa-93	176	44	0.793	0.793	NUM
ajfa-93	176	45	)	)	PUNCT
ajfa-93	176	46	0.120	0.120	NUM
ajfa-93	176	47	(	(	PUNCT
ajfa-93	176	48	0.474	0.474	NUM
ajfa-93	176	49	)	)	PUNCT
ajfa-93	177	1	d	d	NOUN
ajfa-93	177	2	is	be	AUX
ajfa-93	177	3	c	c	NOUN
ajfa-93	177	4	l	l	NOUN
ajfa-93	177	5	-0.096	-0.096	PUNCT
ajfa-93	177	6	(	(	PUNCT
ajfa-93	177	7	0.566	0.566	NUM
ajfa-93	177	8	)	)	PUNCT
ajfa-93	177	9	0.707	0.707	NUM
ajfa-93	177	10	*	*	NOUN
ajfa-93	177	11	*	*	PUNCT
ajfa-93	177	12	(	(	PUNCT
ajfa-93	177	13	0.000	0.000	NUM
ajfa-93	177	14	)	)	PUNCT
ajfa-93	177	15	0.369	0.369	NUM
ajfa-93	178	1	*	*	PUNCT
ajfa-93	178	2	(	(	PUNCT
ajfa-93	178	3	0.022	0.022	NUM
ajfa-93	178	4	)	)	PUNCT
ajfa-93	178	5	0.406	0.406	NUM
ajfa-93	178	6	*	*	PUNCT
ajfa-93	178	7	(	(	PUNCT
ajfa-93	178	8	0.012	0.012	NUM
ajfa-93	178	9	)	)	PUNCT
ajfa-93	179	1	-0.300	-0.300	NOUN
ajfa-93	179	2	(	(	PUNCT
ajfa-93	179	3	0.067	0.067	NUM
ajfa-93	179	4	)	)	PUNCT
ajfa-93	179	5	0.528	0.528	NUM
ajfa-93	179	6	*	*	SYM
ajfa-93	179	7	*	*	PUNCT
ajfa-93	179	8	(	(	PUNCT
ajfa-93	179	9	0.001	0.001	NUM
ajfa-93	179	10	)	)	PUNCT
ajfa-93	179	11	0.523	0.523	NUM
ajfa-93	179	12	*	*	PUNCT
ajfa-93	179	13	*	*	PUNCT
ajfa-93	179	14	(	(	PUNCT
ajfa-93	179	15	0.001	0.001	NUM
ajfa-93	179	16	)	)	PUNCT
ajfa-93	179	17	0.370	0.370	NUM
ajfa-93	179	18	*	*	PUNCT
ajfa-93	179	19	(	(	PUNCT
ajfa-93	179	20	0.022	0.022	NUM
ajfa-93	179	21	)	)	PUNCT
ajfa-93	179	22	0.055	0.055	NUM
ajfa-93	179	23	(	(	PUNCT
ajfa-93	179	24	0.745	0.745	NUM
ajfa-93	179	25	)	)	PUNCT
ajfa-93	179	26	-0.063	-0.063	PUNCT
ajfa-93	179	27	(	(	PUNCT
ajfa-93	179	28	0.706	0.706	NUM
ajfa-93	179	29	)	)	PUNCT
ajfa-93	179	30	0.125	0.125	NUM
ajfa-93	179	31	(	(	PUNCT
ajfa-93	179	32	0.454	0.454	NUM
ajfa-93	179	33	)	)	PUNCT
ajfa-93	179	34	-0.160	-0.160	X
ajfa-93	179	35	(	(	PUNCT
ajfa-93	179	36	0.338	0.338	NUM
ajfa-93	179	37	)	)	PUNCT
ajfa-93	179	38	0.062	0.062	NUM
ajfa-93	179	39	(	(	PUNCT
ajfa-93	179	40	0.710	0.710	NUM
ajfa-93	179	41	)	)	PUNCT
ajfa-93	179	42	in	in	ADP
ajfa-93	179	43	d	d	PROPN
ajfa-93	179	44	e	e	NOUN
ajfa-93	179	45	p	p	VERB
ajfa-93	179	46	0.154	0.154	NUM
ajfa-93	179	47	(	(	PUNCT
ajfa-93	179	48	0.357	0.357	NUM
ajfa-93	179	49	)	)	PUNCT
ajfa-93	179	50	0.882	0.882	NUM
ajfa-93	179	51	*	*	PUNCT
ajfa-93	179	52	*	*	PUNCT
ajfa-93	179	53	(	(	PUNCT
ajfa-93	179	54	0.000	0.000	NUM
ajfa-93	179	55	)	)	PUNCT
ajfa-93	180	1	0.529	0.529	NUM
ajfa-93	180	2	*	*	X
ajfa-93	180	3	*	*	PUNCT
ajfa-93	180	4	(	(	PUNCT
ajfa-93	180	5	0.001	0.001	NUM
ajfa-93	180	6	)	)	PUNCT
ajfa-93	180	7	0.415	0.415	NUM
ajfa-93	180	8	*	*	NOUN
ajfa-93	180	9	*	*	PUNCT
ajfa-93	180	10	(	(	PUNCT
ajfa-93	180	11	0.010	0.010	NUM
ajfa-93	180	12	)	)	PUNCT
ajfa-93	180	13	0.072	0.072	NUM
ajfa-93	180	14	(	(	PUNCT
ajfa-93	180	15	0.668	0.668	NUM
ajfa-93	180	16	)	)	PUNCT
ajfa-93	180	17	0.270	0.270	NUM
ajfa-93	180	18	(	(	PUNCT
ajfa-93	180	19	0.102	0.102	NUM
ajfa-93	180	20	)	)	PUNCT
ajfa-93	180	21	0.453	0.453	NUM
ajfa-93	180	22	*	*	SYM
ajfa-93	180	23	*	*	PUNCT
ajfa-93	180	24	(	(	PUNCT
ajfa-93	180	25	0.004	0.004	NUM
ajfa-93	180	26	)	)	PUNCT
ajfa-93	180	27	0.704	0.704	NUM
ajfa-93	180	28	*	*	NOUN
ajfa-93	180	29	*	*	PUNCT
ajfa-93	180	30	(	(	PUNCT
ajfa-93	180	31	0.000	0.000	NUM
ajfa-93	180	32	)	)	PUNCT
ajfa-93	180	33	0.395	0.395	NUM
ajfa-93	180	34	*	*	PUNCT
ajfa-93	180	35	(	(	PUNCT
ajfa-93	180	36	0.014	0.014	NUM
ajfa-93	180	37	)	)	PUNCT
ajfa-93	180	38	0.391	0.391	NUM
ajfa-93	180	39	*	*	PUNCT
ajfa-93	180	40	(	(	PUNCT
ajfa-93	180	41	0.015	0.015	NUM
ajfa-93	180	42	)	)	PUNCT
ajfa-93	180	43	-0.178	-0.178	PRON
ajfa-93	180	44	(	(	PUNCT
ajfa-93	180	45	0.284	0.284	NUM
ajfa-93	180	46	)	)	PUNCT
ajfa-93	180	47	-0.202	-0.202	PROPN
ajfa-93	180	48	(	(	PUNCT
ajfa-93	180	49	0.225	0.225	NUM
ajfa-93	180	50	)	)	PUNCT
ajfa-93	180	51	0.269	0.269	NUM
ajfa-93	180	52	(	(	PUNCT
ajfa-93	180	53	0.102	0.102	NUM
ajfa-93	180	54	)	)	PUNCT
ajfa-93	180	55	a	a	DET
ajfa-93	180	56	u	u	NOUN
ajfa-93	181	1	d	d	NOUN
ajfa-93	181	2	it	it	PRON
ajfa-93	181	3	0.115	0.115	NUM
ajfa-93	181	4	(	(	PUNCT
ajfa-93	181	5	0.492	0.492	NUM
ajfa-93	181	6	)	)	PUNCT
ajfa-93	181	7	-0.036	-0.036	NOUN
ajfa-93	181	8	(	(	PUNCT
ajfa-93	181	9	0.828	0.828	NUM
ajfa-93	181	10	)	)	PUNCT
ajfa-93	181	11	-0.176	-0.176	NOUN
ajfa-93	181	12	(	(	PUNCT
ajfa-93	181	13	0.290	0.290	NUM
ajfa-93	181	14	)	)	PUNCT
ajfa-93	181	15	-0.329	-0.329	PUNCT
ajfa-93	182	1	*	*	PUNCT
ajfa-93	182	2	(	(	PUNCT
ajfa-93	182	3	0.044	0.044	NUM
ajfa-93	182	4	)	)	PUNCT
ajfa-93	182	5	0.014	0.014	NUM
ajfa-93	182	6	(	(	PUNCT
ajfa-93	182	7	0.935	0.935	NUM
ajfa-93	182	8	)	)	PUNCT
ajfa-93	182	9	-0.031	-0.031	NOUN
ajfa-93	182	10	(	(	PUNCT
ajfa-93	182	11	0.854	0.854	NUM
ajfa-93	182	12	)	)	PUNCT
ajfa-93	182	13	-0.056	-0.056	PUNCT
ajfa-93	182	14	(	(	PUNCT
ajfa-93	182	15	0.740	0.740	NUM
ajfa-93	182	16	)	)	PUNCT
ajfa-93	182	17	0.016	0.016	NUM
ajfa-93	182	18	(	(	PUNCT
ajfa-93	182	19	0.924	0.924	NUM
ajfa-93	182	20	)	)	PUNCT
ajfa-93	182	21	0.010	0.010	NUM
ajfa-93	182	22	(	(	PUNCT
ajfa-93	182	23	0.951	0.951	NUM
ajfa-93	182	24	)	)	PUNCT
ajfa-93	182	25	0.020	0.020	NUM
ajfa-93	182	26	(	(	PUNCT
ajfa-93	182	27	0.907	0.907	NUM
ajfa-93	182	28	)	)	PUNCT
ajfa-93	182	29	-0.060	-0.060	NOUN
ajfa-93	182	30	(	(	PUNCT
ajfa-93	182	31	0.720	0.720	NUM
ajfa-93	182	32	)	)	PUNCT
ajfa-93	182	33	0.106	0.106	NUM
ajfa-93	182	34	(	(	PUNCT
ajfa-93	182	35	0.525	0.525	NUM
ajfa-93	182	36	)	)	PUNCT
ajfa-93	182	37	-0.028	-0.028	NOUN
ajfa-93	182	38	(	(	PUNCT
ajfa-93	182	39	0.869	0.869	NUM
ajfa-93	182	40	)	)	PUNCT
ajfa-93	182	41	p	p	NOUN
ajfa-93	182	42	r	r	NOUN
ajfa-93	182	43	o	o	X
ajfa-93	182	44	c	c	NOUN
ajfa-93	182	45	-0.023	-0.023	NUM
ajfa-93	182	46	(	(	PUNCT
ajfa-93	182	47	0.893	0.893	NUM
ajfa-93	182	48	)	)	PUNCT
ajfa-93	182	49	0.544	0.544	NUM
ajfa-93	182	50	*	*	PUNCT
ajfa-93	182	51	*	*	PUNCT
ajfa-93	182	52	(	(	PUNCT
ajfa-93	182	53	0.000	0.000	NUM
ajfa-93	182	54	)	)	PUNCT
ajfa-93	182	55	0.187	0.187	NUM
ajfa-93	182	56	(	(	PUNCT
ajfa-93	182	57	0.261	0.261	NUM
ajfa-93	182	58	)	)	PUNCT
ajfa-93	182	59	0.466	0.466	NUM
ajfa-93	182	60	*	*	SYM
ajfa-93	182	61	*	*	PUNCT
ajfa-93	182	62	(	(	PUNCT
ajfa-93	182	63	0.003	0.003	NUM
ajfa-93	182	64	)	)	PUNCT
ajfa-93	182	65	0.257	0.257	NUM
ajfa-93	182	66	(	(	PUNCT
ajfa-93	182	67	0.119	0.119	NUM
ajfa-93	182	68	)	)	PUNCT
ajfa-93	182	69	0.034	0.034	NUM
ajfa-93	182	70	(	(	PUNCT
ajfa-93	182	71	0.838	0.838	NUM
ajfa-93	182	72	)	)	PUNCT
ajfa-93	182	73	0.498	0.498	NUM
ajfa-93	182	74	*	*	PUNCT
ajfa-93	182	75	*	*	PUNCT
ajfa-93	182	76	(	(	PUNCT
ajfa-93	182	77	0.001	0.001	NUM
ajfa-93	182	78	)	)	PUNCT
ajfa-93	182	79	0.237	0.237	NUM
ajfa-93	182	80	(	(	PUNCT
ajfa-93	182	81	0.152	0.152	NUM
ajfa-93	182	82	)	)	PUNCT
ajfa-93	182	83	-0.076	-0.076	PUNCT
ajfa-93	182	84	(	(	PUNCT
ajfa-93	182	85	0.651	0.651	NUM
ajfa-93	182	86	)	)	PUNCT
ajfa-93	182	87	-0.143	-0.143	NOUN
ajfa-93	182	88	(	(	PUNCT
ajfa-93	182	89	0.391	0.391	NUM
ajfa-93	182	90	)	)	PUNCT
ajfa-93	182	91	-0.039	-0.039	NOUN
ajfa-93	182	92	(	(	PUNCT
ajfa-93	182	93	0.818	0.818	NUM
ajfa-93	182	94	)	)	PUNCT
ajfa-93	182	95	0.031	0.031	NUM
ajfa-93	182	96	(	(	PUNCT
ajfa-93	182	97	0.852	0.852	NUM
ajfa-93	182	98	)	)	PUNCT
ajfa-93	182	99	0.015	0.015	NUM
ajfa-93	182	100	(	(	PUNCT
ajfa-93	182	101	0.931	0.931	NUM
ajfa-93	182	102	)	)	PUNCT
ajfa-93	183	1	c	c	NOUN
ajfa-93	184	1	e	e	NOUN
ajfa-93	184	2	o	o	NOUN
ajfa-93	184	3	c	c	NOUN
ajfa-93	184	4	h	h	NOUN
ajfa-93	184	5	a	a	DET
ajfa-93	184	6	ir	ir	PROPN
ajfa-93	184	7	-0.277	-0.277	PROPN
ajfa-93	184	8	(	(	PUNCT
ajfa-93	184	9	0.092	0.092	NUM
ajfa-93	184	10	)	)	PUNCT
ajfa-93	184	11	0.548	0.548	NUM
ajfa-93	184	12	*	*	PUNCT
ajfa-93	184	13	*	*	PUNCT
ajfa-93	184	14	(	(	PUNCT
ajfa-93	184	15	0.000	0.000	NUM
ajfa-93	184	16	)	)	PUNCT
ajfa-93	184	17	0.216	0.216	NUM
ajfa-93	184	18	(	(	PUNCT
ajfa-93	184	19	0.192	0.192	NUM
ajfa-93	184	20	)	)	PUNCT
ajfa-93	184	21	0.376	0.376	NUM
ajfa-93	184	22	*	*	SYM
ajfa-93	184	23	(	(	PUNCT
ajfa-93	184	24	0.020	0.020	NUM
ajfa-93	184	25	)	)	PUNCT
ajfa-93	184	26	0.443	0.443	NUM
ajfa-93	184	27	*	*	PUNCT
ajfa-93	184	28	*	*	PUNCT
ajfa-93	184	29	(	(	PUNCT
ajfa-93	184	30	0.005	0.005	NUM
ajfa-93	184	31	)	)	PUNCT
ajfa-93	184	32	-0.077	-0.077	PUNCT
ajfa-93	184	33	(	(	PUNCT
ajfa-93	184	34	0.644	0.644	NUM
ajfa-93	184	35	)	)	PUNCT
ajfa-93	184	36	0.447	0.447	NUM
ajfa-93	184	37	*	*	PUNCT
ajfa-93	184	38	*	*	PUNCT
ajfa-93	184	39	(	(	PUNCT
ajfa-93	184	40	0.005	0.005	NUM
ajfa-93	184	41	)	)	PUNCT
ajfa-93	184	42	0.294	0.294	NUM
ajfa-93	184	43	(	(	PUNCT
ajfa-93	184	44	0.073	0.073	NUM
ajfa-93	184	45	)	)	PUNCT
ajfa-93	184	46	-0.041	-0.041	PUNCT
ajfa-93	184	47	(	(	PUNCT
ajfa-93	184	48	0.807	0.807	NUM
ajfa-93	184	49	)	)	PUNCT
ajfa-93	184	50	-0.003	-0.003	NOUN
ajfa-93	184	51	(	(	PUNCT
ajfa-93	184	52	0.986	0.986	NUM
ajfa-93	184	53	)	)	PUNCT
ajfa-93	184	54	-0.146	-0.146	NOUN
ajfa-93	184	55	(	(	PUNCT
ajfa-93	184	56	0.383	0.383	NUM
ajfa-93	184	57	)	)	PUNCT
ajfa-93	184	58	-0.164	-0.164	NOUN
ajfa-93	184	59	(	(	PUNCT
ajfa-93	184	60	0.326	0.326	NUM
ajfa-93	184	61	)	)	PUNCT
ajfa-93	184	62	0.237	0.237	NUM
ajfa-93	184	63	(	(	PUNCT
ajfa-93	184	64	0.152	0.152	NUM
ajfa-93	184	65	)	)	PUNCT
ajfa-93	184	66	b	b	NOUN
ajfa-93	185	1	d	d	NOUN
ajfa-93	185	2	in	in	ADP
ajfa-93	185	3	d	d	PROPN
ajfa-93	185	4	0.076	0.076	NUM
ajfa-93	185	5	(	(	PUNCT
ajfa-93	185	6	0.651	0.651	NUM
ajfa-93	185	7	)	)	PUNCT
ajfa-93	185	8	0.707	0.707	NUM
ajfa-93	185	9	*	*	NOUN
ajfa-93	185	10	*	*	PUNCT
ajfa-93	185	11	(	(	PUNCT
ajfa-93	185	12	0.000	0.000	NUM
ajfa-93	185	13	)	)	PUNCT
ajfa-93	185	14	0.481	0.481	NUM
ajfa-93	186	1	*	*	PUNCT
ajfa-93	186	2	*	*	PUNCT
ajfa-93	186	3	(	(	PUNCT
ajfa-93	186	4	0.002	0.002	NUM
ajfa-93	186	5	)	)	PUNCT
ajfa-93	186	6	0.305	0.305	NUM
ajfa-93	186	7	(	(	PUNCT
ajfa-93	186	8	0.063	0.063	NUM
ajfa-93	186	9	)	)	PUNCT
ajfa-93	186	10	0.771	0.771	NUM
ajfa-93	186	11	*	*	PUNCT
ajfa-93	186	12	*	*	PUNCT
ajfa-93	186	13	(	(	PUNCT
ajfa-93	186	14	0.000	0.000	NUM
ajfa-93	186	15	)	)	PUNCT
ajfa-93	186	16	0.046	0.046	NUM
ajfa-93	186	17	(	(	PUNCT
ajfa-93	186	18	0.783	0.783	NUM
ajfa-93	186	19	)	)	PUNCT
ajfa-93	186	20	0.187	0.187	NUM
ajfa-93	186	21	(	(	PUNCT
ajfa-93	186	22	0.262	0.262	NUM
ajfa-93	186	23	)	)	PUNCT
ajfa-93	186	24	0.294	0.294	NUM
ajfa-93	186	25	(	(	PUNCT
ajfa-93	186	26	0.073	0.073	NUM
ajfa-93	186	27	)	)	PUNCT
ajfa-93	186	28	0.424	0.424	NUM
ajfa-93	186	29	*	*	PUNCT
ajfa-93	186	30	*	*	PUNCT
ajfa-93	186	31	(	(	PUNCT
ajfa-93	186	32	0.008	0.008	NUM
ajfa-93	186	33	)	)	PUNCT
ajfa-93	186	34	0.489	0.489	NUM
ajfa-93	186	35	*	*	PUNCT
ajfa-93	186	36	*	*	PUNCT
ajfa-93	186	37	(	(	PUNCT
ajfa-93	186	38	0.002	0.002	NUM
ajfa-93	186	39	)	)	PUNCT
ajfa-93	186	40	-0.101	-0.101	PUNCT
ajfa-93	186	41	(	(	PUNCT
ajfa-93	186	42	0.546	0.546	NUM
ajfa-93	186	43	)	)	PUNCT
ajfa-93	186	44	-0.287	-0.287	PUNCT
ajfa-93	186	45	(	(	PUNCT
ajfa-93	186	46	0.081	0.081	NUM
ajfa-93	186	47	)	)	PUNCT
ajfa-93	186	48	0.237	0.237	NUM
ajfa-93	186	49	(	(	PUNCT
ajfa-93	186	50	0.152	0.152	NUM
ajfa-93	186	51	)	)	PUNCT
ajfa-93	186	52	asian	asian	ADJ
ajfa-93	186	53	journal	journal	NOUN
ajfa-93	186	54	of	of	ADP
ajfa-93	186	55	finance	finance	PROPN
ajfa-93	186	56	&	&	CCONJ
ajfa-93	186	57	accounting	accounting	PROPN
ajfa-93	186	58	issn	issn	PROPN
ajfa-93	186	59	1946	1946	NUM
ajfa-93	186	60	-	-	PUNCT
ajfa-93	186	61	052x	052x	NOUN
ajfa-93	186	62	200x	200x	NUM
ajfa-93	186	63	,	,	PUNCT
ajfa-93	186	64	vol	vol	NOUN
ajfa-93	186	65	.	.	PROPN
ajfa-93	186	66	1	1	NUM
ajfa-93	186	67	,	,	PUNCT
ajfa-93	186	68	no	no	INTJ
ajfa-93	186	69	.	.	NOUN
ajfa-93	186	70	1	1	NUM
ajfa-93	186	71	:	:	PUNCT
ajfa-93	186	72	e1	e1	VERB
ajfa-93	186	73	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-93	186	74	47	47	NUM
ajfa-93	186	75	table	table	NOUN
ajfa-93	186	76	6	6	NUM
ajfa-93	186	77	continued	continued	ADJ
ajfa-93	186	78	…	…	PUNCT
ajfa-93	186	79	b	b	X
ajfa-93	187	1	d	d	X
ajfa-93	187	2	s	s	X
ajfa-93	187	3	iz	iz	INTJ
ajfa-93	187	4	e	e	SYM
ajfa-93	187	5	0.308	0.308	NUM
ajfa-93	187	6	(	(	PUNCT
ajfa-93	187	7	0.060	0.060	NUM
ajfa-93	187	8	)	)	PUNCT
ajfa-93	187	9	0.338	0.338	NUM
ajfa-93	187	10	*	*	PUNCT
ajfa-93	187	11	(	(	PUNCT
ajfa-93	187	12	0.038	0.038	NUM
ajfa-93	187	13	)	)	PUNCT
ajfa-93	187	14	0.459	0.459	NOUN
ajfa-93	187	15	*	*	PUNCT
ajfa-93	187	16	*	*	PUNCT
ajfa-93	187	17	(	(	PUNCT
ajfa-93	187	18	0.004	0.004	NUM
ajfa-93	187	19	)	)	PUNCT
ajfa-93	187	20	0.114	0.114	NUM
ajfa-93	187	21	(	(	PUNCT
ajfa-93	187	22	0.495	0.495	NUM
ajfa-93	187	23	)	)	PUNCT
ajfa-93	187	24	0.480	0.480	NUM
ajfa-93	187	25	*	*	NOUN
ajfa-93	187	26	*	*	PUNCT
ajfa-93	187	27	(	(	PUNCT
ajfa-93	187	28	0.002	0.002	NUM
ajfa-93	187	29	)	)	PUNCT
ajfa-93	187	30	0.029	0.029	NUM
ajfa-93	187	31	(	(	PUNCT
ajfa-93	187	32	0.861	0.861	NUM
ajfa-93	187	33	)	)	PUNCT
ajfa-93	187	34	-0.119	-0.119	X
ajfa-93	187	35	(	(	PUNCT
ajfa-93	187	36	0.477	0.477	NUM
ajfa-93	187	37	)	)	PUNCT
ajfa-93	187	38	-0.050	-0.050	PUNCT
ajfa-93	187	39	(	(	PUNCT
ajfa-93	187	40	0.767	0.767	NUM
ajfa-93	187	41	)	)	PUNCT
ajfa-93	187	42	0.462	0.462	NUM
ajfa-93	187	43	*	*	PUNCT
ajfa-93	187	44	*	*	PUNCT
ajfa-93	187	45	(	(	PUNCT
ajfa-93	187	46	0.004	0.004	NUM
ajfa-93	187	47	)	)	PUNCT
ajfa-93	187	48	0.667	0.667	NUM
ajfa-93	187	49	*	*	NOUN
ajfa-93	187	50	*	*	PUNCT
ajfa-93	187	51	(	(	PUNCT
ajfa-93	187	52	0.000	0.000	NUM
ajfa-93	187	53	)	)	PUNCT
ajfa-93	187	54	-0.137	-0.137	X
ajfa-93	187	55	(	(	PUNCT
ajfa-93	187	56	0.412	0.412	NUM
ajfa-93	187	57	)	)	PUNCT
ajfa-93	187	58	-0.139	-0.139	PUNCT
ajfa-93	187	59	(	(	PUNCT
ajfa-93	187	60	0.404	0.404	NUM
ajfa-93	187	61	)	)	PUNCT
ajfa-93	187	62	0.269	0.269	NUM
ajfa-93	187	63	(	(	PUNCT
ajfa-93	187	64	0.102	0.102	NUM
ajfa-93	187	65	)	)	PUNCT
ajfa-93	187	66	s	s	VERB
ajfa-93	188	1	iz	iz	ADJ
ajfa-93	188	2	e	e	NOUN
ajfa-93	188	3	0.494	0.494	NUM
ajfa-93	188	4	*	*	PUNCT
ajfa-93	188	5	*	*	PUNCT
ajfa-93	188	6	(	(	PUNCT
ajfa-93	188	7	0.002	0.002	NUM
ajfa-93	188	8	)	)	PUNCT
ajfa-93	188	9	0.360	0.360	NUM
ajfa-93	188	10	*	*	SYM
ajfa-93	188	11	(	(	PUNCT
ajfa-93	188	12	0.026	0.026	NUM
ajfa-93	188	13	)	)	PUNCT
ajfa-93	188	14	0.595	0.595	NUM
ajfa-93	188	15	*	*	PUNCT
ajfa-93	188	16	*	*	PUNCT
ajfa-93	188	17	(	(	PUNCT
ajfa-93	188	18	0.000	0.000	NUM
ajfa-93	188	19	)	)	PUNCT
ajfa-93	188	20	0.156	0.156	NUM
ajfa-93	188	21	(	(	PUNCT
ajfa-93	188	22	0.350	0.350	NUM
ajfa-93	188	23	)	)	PUNCT
ajfa-93	188	24	0.468	0.468	NUM
ajfa-93	188	25	*	*	PUNCT
ajfa-93	188	26	*	*	PUNCT
ajfa-93	188	27	(	(	PUNCT
ajfa-93	188	28	0.003	0.003	NUM
ajfa-93	188	29	)	)	PUNCT
ajfa-93	188	30	-0.122	-0.122	NOUN
ajfa-93	188	31	(	(	PUNCT
ajfa-93	188	32	0.466	0.466	NUM
ajfa-93	188	33	)	)	PUNCT
ajfa-93	188	34	-0.107	-0.107	PUNCT
ajfa-93	189	1	(	(	PUNCT
ajfa-93	189	2	0.524	0.524	NUM
ajfa-93	189	3	)	)	PUNCT
ajfa-93	189	4	-0.040	-0.040	NUM
ajfa-93	189	5	(	(	PUNCT
ajfa-93	189	6	0.810	0.810	NUM
ajfa-93	189	7	)	)	PUNCT
ajfa-93	189	8	0.507	0.507	NUM
ajfa-93	189	9	*	*	PUNCT
ajfa-93	189	10	*	*	PUNCT
ajfa-93	189	11	(	(	PUNCT
ajfa-93	189	12	0.001	0.001	NUM
ajfa-93	189	13	)	)	PUNCT
ajfa-93	189	14	0.651	0.651	NUM
ajfa-93	189	15	*	*	PUNCT
ajfa-93	189	16	*	*	PUNCT
ajfa-93	189	17	(	(	PUNCT
ajfa-93	189	18	0.000	0.000	NUM
ajfa-93	189	19	)	)	PUNCT
ajfa-93	189	20	-0.032	-0.032	X
ajfa-93	189	21	(	(	PUNCT
ajfa-93	189	22	0.850	0.850	NUM
ajfa-93	189	23	)	)	PUNCT
ajfa-93	189	24	-0.082	-0.082	X
ajfa-93	189	25	(	(	PUNCT
ajfa-93	189	26	0.625	0.625	NUM
ajfa-93	189	27	)	)	PUNCT
ajfa-93	189	28	0.174	0.174	NUM
ajfa-93	189	29	(	(	PUNCT
ajfa-93	189	30	0.295	0.295	NUM
ajfa-93	189	31	)	)	PUNCT
ajfa-93	190	1	l	l	NOUN
ajfa-93	190	2	e	e	NOUN
ajfa-93	190	3	v	v	NOUN
ajfa-93	190	4	-0.115	-0.115	PUNCT
ajfa-93	190	5	(	(	PUNCT
ajfa-93	190	6	0.490	0.490	NUM
ajfa-93	190	7	)	)	PUNCT
ajfa-93	190	8	0.025	0.025	NUM
ajfa-93	190	9	(	(	PUNCT
ajfa-93	190	10	0.882	0.882	NUM
ajfa-93	190	11	)	)	PUNCT
ajfa-93	190	12	-0.039	-0.039	NOUN
ajfa-93	190	13	(	(	PUNCT
ajfa-93	190	14	0.817	0.817	NUM
ajfa-93	190	15	)	)	PUNCT
ajfa-93	190	16	0.162	0.162	NUM
ajfa-93	190	17	(	(	PUNCT
ajfa-93	190	18	0.330	0.330	NUM
ajfa-93	190	19	)	)	PUNCT
ajfa-93	190	20	0.001	0.001	NUM
ajfa-93	190	21	(	(	PUNCT
ajfa-93	190	22	0.996	0.996	NUM
ajfa-93	190	23	)	)	PUNCT
ajfa-93	190	24	0.030	0.030	NUM
ajfa-93	190	25	(	(	PUNCT
ajfa-93	190	26	0.857	0.857	NUM
ajfa-93	190	27	)	)	PUNCT
ajfa-93	190	28	-0.004	-0.004	PUNCT
ajfa-93	190	29	(	(	PUNCT
ajfa-93	190	30	0.981	0.981	NUM
ajfa-93	190	31	)	)	PUNCT
ajfa-93	190	32	0.102	0.102	NUM
ajfa-93	190	33	(	(	PUNCT
ajfa-93	190	34	0.542	0.542	NUM
ajfa-93	190	35	)	)	PUNCT
ajfa-93	190	36	0.003	0.003	NUM
ajfa-93	190	37	(	(	PUNCT
ajfa-93	190	38	0.985	0.985	NUM
ajfa-93	190	39	)	)	PUNCT
ajfa-93	190	40	0.001	0.001	NUM
ajfa-93	190	41	(	(	PUNCT
ajfa-93	190	42	0.997	0.997	NUM
ajfa-93	190	43	)	)	PUNCT
ajfa-93	190	44	0.084	0.084	NUM
ajfa-93	190	45	(	(	PUNCT
ajfa-93	190	46	0.618	0.618	NUM
ajfa-93	190	47	)	)	PUNCT
ajfa-93	190	48	-0.235	-0.235	PUNCT
ajfa-93	190	49	(	(	PUNCT
ajfa-93	190	50	0.155	0.155	NUM
ajfa-93	190	51	)	)	PUNCT
ajfa-93	190	52	-0.076	-0.076	PROPN
ajfa-93	190	53	(	(	PUNCT
ajfa-93	190	54	0.650	0.650	NUM
ajfa-93	190	55	)	)	PUNCT
ajfa-93	190	56	g	g	NOUN
ajfa-93	190	57	r	r	NOUN
ajfa-93	190	58	o	o	X
ajfa-93	190	59	w	w	NOUN
ajfa-93	190	60	0.347	0.347	NUM
ajfa-93	190	61	*	*	SYM
ajfa-93	190	62	(	(	PUNCT
ajfa-93	190	63	0.033	0.033	NUM
ajfa-93	190	64	)	)	PUNCT
ajfa-93	190	65	-0.264	-0.264	PROPN
ajfa-93	190	66	(	(	PUNCT
ajfa-93	190	67	0.109	0.109	NUM
ajfa-93	190	68	)	)	PUNCT
ajfa-93	190	69	-0.054	-0.054	PUNCT
ajfa-93	190	70	(	(	PUNCT
ajfa-93	190	71	0.748	0.748	NUM
ajfa-93	190	72	)	)	PUNCT
ajfa-93	190	73	-0.206	-0.206	PUNCT
ajfa-93	190	74	(	(	PUNCT
ajfa-93	190	75	0.215	0.215	NUM
ajfa-93	190	76	)	)	PUNCT
ajfa-93	190	77	-0.340	-0.340	NUM
ajfa-93	190	78	*	*	PUNCT
ajfa-93	190	79	(	(	PUNCT
ajfa-93	190	80	0.037	0.037	NUM
ajfa-93	190	81	)	)	PUNCT
ajfa-93	190	82	0.167	0.167	NUM
ajfa-93	190	83	(	(	PUNCT
ajfa-93	190	84	0.316	0.316	NUM
ajfa-93	190	85	)	)	PUNCT
ajfa-93	190	86	0.073	0.073	NUM
ajfa-93	190	87	(	(	PUNCT
ajfa-93	190	88	0.663	0.663	NUM
ajfa-93	190	89	)	)	PUNCT
ajfa-93	190	90	-0.236	-0.236	PUNCT
ajfa-93	190	91	(	(	PUNCT
ajfa-93	190	92	0.154	0.154	NUM
ajfa-93	190	93	)	)	PUNCT
ajfa-93	190	94	-0.302	-0.302	PUNCT
ajfa-93	190	95	(	(	PUNCT
ajfa-93	190	96	0.065	0.065	NUM
ajfa-93	190	97	)	)	PUNCT
ajfa-93	190	98	-0.382	-0.382	PROPN
ajfa-93	190	99	*	*	PUNCT
ajfa-93	190	100	(	(	PUNCT
ajfa-93	190	101	0.018	0.018	NUM
ajfa-93	190	102	)	)	PUNCT
ajfa-93	190	103	-0.174	-0.174	PUNCT
ajfa-93	190	104	(	(	PUNCT
ajfa-93	190	105	0.297	0.297	NUM
ajfa-93	190	106	)	)	PUNCT
ajfa-93	190	107	-0.307	-0.307	NUM
ajfa-93	190	108	(	(	PUNCT
ajfa-93	190	109	0.061	0.061	NUM
ajfa-93	190	110	)	)	PUNCT
ajfa-93	190	111	0.091	0.091	NUM
ajfa-93	190	112	(	(	PUNCT
ajfa-93	190	113	0.587	0.587	NUM
ajfa-93	190	114	)	)	PUNCT
ajfa-93	190	115	p	p	NOUN
ajfa-93	190	116	e	e	NOUN
ajfa-93	190	117	r	r	NOUN
ajfa-93	190	118	0.014	0.014	NUM
ajfa-93	190	119	(	(	PUNCT
ajfa-93	190	120	0.932	0.932	NUM
ajfa-93	190	121	)	)	PUNCT
ajfa-93	190	122	0.306	0.306	NUM
ajfa-93	190	123	(	(	PUNCT
ajfa-93	190	124	0.061	0.061	NUM
ajfa-93	190	125	)	)	PUNCT
ajfa-93	190	126	0.152	0.152	NUM
ajfa-93	190	127	(	(	PUNCT
ajfa-93	190	128	0.361	0.361	NUM
ajfa-93	190	129	)	)	PUNCT
ajfa-93	190	130	0.219	0.219	NUM
ajfa-93	190	131	(	(	PUNCT
ajfa-93	190	132	0.187	0.187	NUM
ajfa-93	190	133	)	)	PUNCT
ajfa-93	190	134	0.320	0.320	NUM
ajfa-93	190	135	(	(	PUNCT
ajfa-93	190	136	0.050	0.050	NUM
ajfa-93	190	137	)	)	PUNCT
ajfa-93	190	138	-0.270	-0.270	PUNCT
ajfa-93	190	139	(	(	PUNCT
ajfa-93	190	140	0.101	0.101	NUM
ajfa-93	190	141	)	)	PUNCT
ajfa-93	190	142	0.062	0.062	NUM
ajfa-93	190	143	(	(	PUNCT
ajfa-93	190	144	0.712	0.712	NUM
ajfa-93	190	145	)	)	PUNCT
ajfa-93	190	146	0.325	0.325	NUM
ajfa-93	190	147	*	*	PUNCT
ajfa-93	190	148	(	(	PUNCT
ajfa-93	190	149	0.046	0.046	NUM
ajfa-93	190	150	)	)	PUNCT
ajfa-93	190	151	0.262	0.262	NUM
ajfa-93	190	152	(	(	PUNCT
ajfa-93	190	153	0.113	0.113	NUM
ajfa-93	190	154	)	)	PUNCT
ajfa-93	190	155	0.232	0.232	NUM
ajfa-93	190	156	(	(	PUNCT
ajfa-93	190	157	0.162	0.162	NUM
ajfa-93	190	158	)	)	PUNCT
ajfa-93	190	159	0.155	0.155	NUM
ajfa-93	190	160	(	(	PUNCT
ajfa-93	190	161	0.351	0.351	NUM
ajfa-93	190	162	)	)	PUNCT
ajfa-93	190	163	0.064	0.064	NUM
ajfa-93	190	164	(	(	PUNCT
ajfa-93	190	165	0.704	0.704	NUM
ajfa-93	190	166	)	)	PUNCT
ajfa-93	190	167	-0.148	-0.148	NOUN
ajfa-93	190	168	(	(	PUNCT
ajfa-93	190	169	0.375	0.375	NUM
ajfa-93	190	170	)	)	PUNCT
ajfa-93	190	171	notes	note	VERB
ajfa-93	190	172	:	:	PUNCT
ajfa-93	190	173	*	*	PUNCT
ajfa-93	190	174	significant	significant	ADJ
ajfa-93	190	175	at	at	ADP
ajfa-93	190	176	<	<	X
ajfa-93	190	177	0.05	0.05	NUM
ajfa-93	190	178	,	,	PUNCT
ajfa-93	190	179	*	*	PUNCT
ajfa-93	190	180	*	*	PUNCT
ajfa-93	190	181	significant	significant	ADJ
ajfa-93	190	182	at	at	ADP
ajfa-93	190	183	<	<	X
ajfa-93	190	184	0.01	0.01	NUM
ajfa-93	190	185	(	(	PUNCT
ajfa-93	190	186	two	two	NUM
ajfa-93	190	187	-	-	PUNCT
ajfa-93	190	188	tailed	tailed	ADJ
ajfa-93	190	189	)	)	PUNCT
ajfa-93	190	190	variable	variable	ADJ
ajfa-93	190	191	definitions	definition	NOUN
ajfa-93	190	192	are	be	AUX
ajfa-93	190	193	the	the	DET
ajfa-93	190	194	same	same	ADJ
ajfa-93	190	195	as	as	SCONJ
ajfa-93	190	196	shown	show	VERB
ajfa-93	190	197	for	for	ADP
ajfa-93	190	198	table	table	NOUN
ajfa-93	190	199	4	4	NUM
ajfa-93	190	200	a	a	DET
ajfa-93	190	201	correlation	correlation	NOUN
ajfa-93	190	202	matrix	matrix	NOUN
ajfa-93	190	203	showing	show	VERB
ajfa-93	190	204	both	both	CCONJ
ajfa-93	190	205	pearson	pearson	NOUN
ajfa-93	190	206	and	and	CCONJ
ajfa-93	190	207	spearman‟s	spearman‟s	PROPN
ajfa-93	190	208	rho	rho	ADJ
ajfa-93	190	209	correlations	correlation	NOUN
ajfa-93	190	210	is	be	AUX
ajfa-93	190	211	presented	present	VERB
ajfa-93	190	212	in	in	ADP
ajfa-93	190	213	table	table	NOUN
ajfa-93	190	214	6	6	NUM
ajfa-93	190	215	.	.	PUNCT
ajfa-93	191	1	given	give	VERB
ajfa-93	191	2	the	the	DET
ajfa-93	191	3	small	small	ADJ
ajfa-93	191	4	sample	sample	NOUN
ajfa-93	191	5	size	size	NOUN
ajfa-93	191	6	and	and	CCONJ
ajfa-93	191	7	non	non	ADJ
ajfa-93	191	8	-	-	ADJ
ajfa-93	191	9	normal	normal	ADJ
ajfa-93	191	10	distributions	distribution	NOUN
ajfa-93	191	11	for	for	ADP
ajfa-93	191	12	some	some	PRON
ajfa-93	191	13	of	of	ADP
ajfa-93	191	14	our	our	PRON
ajfa-93	191	15	variables	variable	NOUN
ajfa-93	191	16	,	,	PUNCT
ajfa-93	191	17	the	the	DET
ajfa-93	191	18	following	follow	VERB
ajfa-93	191	19	discussion	discussion	NOUN
ajfa-93	191	20	focuses	focus	VERB
ajfa-93	191	21	on	on	ADP
ajfa-93	191	22	the	the	DET
ajfa-93	191	23	spearman‟s	spearman‟s	ADJ
ajfa-93	191	24	rho	rho	ADJ
ajfa-93	191	25	results	result	NOUN
ajfa-93	191	26	.	.	PUNCT
ajfa-93	192	1	sust	sust	NOUN
ajfa-93	192	2	is	be	AUX
ajfa-93	192	3	significantly	significantly	ADV
ajfa-93	192	4	positively	positively	ADV
ajfa-93	192	5	correlated	correlate	VERB
ajfa-93	192	6	with	with	ADP
ajfa-93	192	7	cgscore	cgscore	NOUN
ajfa-93	192	8	and	and	CCONJ
ajfa-93	192	9	size	size	NOUN
ajfa-93	192	10	,	,	PUNCT
ajfa-93	192	11	and	and	CCONJ
ajfa-93	192	12	gcscore	gcscore	NOUN
ajfa-93	192	13	is	be	AUX
ajfa-93	192	14	positively	positively	ADV
ajfa-93	192	15	correlated	correlate	VERB
ajfa-93	192	16	with	with	ADP
ajfa-93	192	17	size	size	NOUN
ajfa-93	192	18	.	.	PUNCT
ajfa-93	193	1	however	however	ADV
ajfa-93	193	2	none	none	NOUN
ajfa-93	193	3	of	of	ADP
ajfa-93	193	4	these	these	DET
ajfa-93	193	5	correlations	correlation	NOUN
ajfa-93	193	6	are	be	AUX
ajfa-93	193	7	high	high	ADJ
ajfa-93	193	8	enough	enough	ADV
ajfa-93	193	9	to	to	PART
ajfa-93	193	10	induce	induce	VERB
ajfa-93	193	11	multicollenearity	multicollenearity	NOUN
ajfa-93	193	12	problems	problem	NOUN
ajfa-93	193	13	into	into	ADP
ajfa-93	193	14	the	the	DET
ajfa-93	193	15	model	model	NOUN
ajfa-93	193	16	.	.	PUNCT
ajfa-93	194	1	interestingly	interestingly	ADV
ajfa-93	194	2	,	,	PUNCT
ajfa-93	194	3	sust	sust	PROPN
ajfa-93	194	4	is	be	AUX
ajfa-93	194	5	significantly	significantly	ADV
ajfa-93	194	6	positively	positively	ADV
ajfa-93	194	7	correlated	correlate	VERB
ajfa-93	194	8	(	(	PUNCT
ajfa-93	194	9	ρ	ρ	PROPN
ajfa-93	194	10	=	=	NOUN
ajfa-93	194	11	0.400	0.400	NUM
ajfa-93	194	12	)	)	PUNCT
ajfa-93	194	13	with	with	ADP
ajfa-93	194	14	credit	credit	NOUN
ajfa-93	194	15	rating	rating	NOUN
ajfa-93	194	16	(	(	PUNCT
ajfa-93	194	17	sprate	sprate	NOUN
ajfa-93	194	18	)	)	PUNCT
ajfa-93	194	19	.	.	PUNCT
ajfa-93	195	1	however	however	ADV
ajfa-93	195	2	as	as	SCONJ
ajfa-93	195	3	the	the	DET
ajfa-93	195	4	results	result	NOUN
ajfa-93	195	5	in	in	ADP
ajfa-93	195	6	table	table	NOUN
ajfa-93	195	7	5	5	NUM
ajfa-93	195	8	show	show	NOUN
ajfa-93	195	9	,	,	PUNCT
ajfa-93	195	10	this	this	DET
ajfa-93	195	11	relationship	relationship	NOUN
ajfa-93	195	12	becomes	become	VERB
ajfa-93	195	13	insignificant	insignificant	ADJ
ajfa-93	195	14	when	when	SCONJ
ajfa-93	195	15	firm	firm	ADJ
ajfa-93	195	16	size	size	NOUN
ajfa-93	195	17	is	be	AUX
ajfa-93	195	18	controlled	control	VERB
ajfa-93	195	19	.	.	PUNCT
ajfa-93	196	1	these	these	DET
ajfa-93	196	2	results	result	NOUN
ajfa-93	196	3	suggest	suggest	VERB
ajfa-93	196	4	that	that	SCONJ
ajfa-93	196	5	larger	large	ADJ
ajfa-93	196	6	firms	firm	NOUN
ajfa-93	196	7	have	have	VERB
ajfa-93	196	8	both	both	CCONJ
ajfa-93	196	9	better	well	ADJ
ajfa-93	196	10	credit	credit	NOUN
ajfa-93	196	11	ratings	rating	NOUN
ajfa-93	196	12	and	and	CCONJ
ajfa-93	196	13	corporate	corporate	ADJ
ajfa-93	196	14	governance	governance	NOUN
ajfa-93	196	15	and	and	CCONJ
ajfa-93	196	16	sustainability	sustainability	NOUN
ajfa-93	196	17	disclosures	disclosure	NOUN
ajfa-93	196	18	.	.	PUNCT
ajfa-93	197	1	in	in	ADP
ajfa-93	197	2	order	order	NOUN
ajfa-93	197	3	to	to	PART
ajfa-93	197	4	determine	determine	VERB
ajfa-93	197	5	whether	whether	SCONJ
ajfa-93	197	6	one	one	NUM
ajfa-93	197	7	particular	particular	ADJ
ajfa-93	197	8	aspect	aspect	NOUN
ajfa-93	197	9	of	of	ADP
ajfa-93	197	10	the	the	DET
ajfa-93	197	11	cgscore	cgscore	NOUN
ajfa-93	197	12	was	be	AUX
ajfa-93	197	13	driving	drive	VERB
ajfa-93	197	14	the	the	DET
ajfa-93	197	15	(	(	PUNCT
ajfa-93	197	16	lack	lack	NOUN
ajfa-93	197	17	of	of	ADP
ajfa-93	197	18	)	)	PUNCT
ajfa-93	197	19	results	result	NOUN
ajfa-93	197	20	,	,	PUNCT
ajfa-93	197	21	it	it	PRON
ajfa-93	197	22	was	be	AUX
ajfa-93	197	23	decided	decide	VERB
ajfa-93	197	24	to	to	PART
ajfa-93	197	25	disaggregate	disaggregate	VERB
ajfa-93	197	26	the	the	DET
ajfa-93	197	27	index	index	NOUN
ajfa-93	197	28	into	into	ADP
ajfa-93	197	29	its	its	PRON
ajfa-93	197	30	constituent	constituent	ADJ
ajfa-93	197	31	parts	part	NOUN
ajfa-93	197	32	as	as	ADP
ajfa-93	197	33	per	per	ADP
ajfa-93	197	34	the	the	DET
ajfa-93	197	35	corporate	corporate	ADJ
ajfa-93	197	36	governance	governance	NOUN
ajfa-93	197	37	index	index	NOUN
ajfa-93	197	38	shown	show	VERB
ajfa-93	197	39	in	in	ADP
ajfa-93	197	40	table	table	NOUN
ajfa-93	197	41	1	1	NUM
ajfa-93	197	42	(	(	PUNCT
ajfa-93	197	43	model	model	NOUN
ajfa-93	197	44	2	2	NUM
ajfa-93	197	45	)	)	PUNCT
ajfa-93	197	46	.	.	PUNCT
ajfa-93	198	1	discl	discl	PROPN
ajfa-93	198	2	is	be	AUX
ajfa-93	198	3	the	the	DET
ajfa-93	198	4	disclosure	disclosure	NOUN
ajfa-93	198	5	score	score	NOUN
ajfa-93	198	6	from	from	ADP
ajfa-93	198	7	the	the	DET
ajfa-93	198	8	index	index	NOUN
ajfa-93	198	9	expressed	express	VERB
ajfa-93	198	10	as	as	ADP
ajfa-93	198	11	a	a	DET
ajfa-93	198	12	proportion	proportion	NOUN
ajfa-93	198	13	(	(	PUNCT
ajfa-93	198	14	x/7	x/7	NUM
ajfa-93	198	15	)	)	PUNCT
ajfa-93	198	16	.	.	PUNCT
ajfa-93	199	1	indep	indep	NOUN
ajfa-93	199	2	is	be	AUX
ajfa-93	199	3	the	the	DET
ajfa-93	199	4	independence	independence	NOUN
ajfa-93	199	5	score	score	NOUN
ajfa-93	199	6	(	(	PUNCT
ajfa-93	199	7	x/15	x/15	NOUN
ajfa-93	199	8	)	)	PUNCT
ajfa-93	199	9	.	.	PUNCT
ajfa-93	200	1	audit	audit	NOUN
ajfa-93	200	2	is	be	AUX
ajfa-93	200	3	the	the	DET
ajfa-93	200	4	external	external	ADJ
ajfa-93	200	5	audit	audit	NOUN
ajfa-93	200	6	score	score	NOUN
ajfa-93	200	7	(	(	PUNCT
ajfa-93	200	8	x/2	x/2	NUM
ajfa-93	200	9	)	)	PUNCT
ajfa-93	200	10	,	,	PUNCT
ajfa-93	200	11	while	while	SCONJ
ajfa-93	200	12	proc	proc	NOUN
ajfa-93	200	13	is	be	AUX
ajfa-93	200	14	the	the	DET
ajfa-93	200	15	procedure	procedure	NOUN
ajfa-93	200	16	score	score	NOUN
ajfa-93	200	17	(	(	PUNCT
ajfa-93	200	18	x/2	x/2	NUM
ajfa-93	200	19	)	)	PUNCT
ajfa-93	200	20	.	.	PUNCT
ajfa-93	201	1	in	in	ADP
ajfa-93	201	2	the	the	DET
ajfa-93	201	3	interest	interest	NOUN
ajfa-93	201	4	of	of	ADP
ajfa-93	201	5	parsimony	parsimony	NOUN
ajfa-93	201	6	,	,	PUNCT
ajfa-93	201	7	per	per	ADP
ajfa-93	201	8	was	be	AUX
ajfa-93	201	9	dropped	drop	VERB
ajfa-93	201	10	from	from	ADP
ajfa-93	201	11	these	these	DET
ajfa-93	201	12	regressions	regression	NOUN
ajfa-93	201	13	.	.	PUNCT
ajfa-93	202	1	again	again	ADV
ajfa-93	202	2	the	the	DET
ajfa-93	202	3	only	only	ADJ
ajfa-93	202	4	significant	significant	ADJ
ajfa-93	202	5	variables	variable	NOUN
ajfa-93	202	6	were	be	AUX
ajfa-93	202	7	size	size	NOUN
ajfa-93	202	8	,	,	PUNCT
ajfa-93	202	9	lev	lev	NOUN
ajfa-93	202	10	and	and	CCONJ
ajfa-93	202	11	grow	grow	VERB
ajfa-93	202	12	,	,	PUNCT
ajfa-93	202	13	all	all	PRON
ajfa-93	202	14	with	with	ADP
ajfa-93	202	15	the	the	DET
ajfa-93	202	16	same	same	ADJ
ajfa-93	202	17	signs	sign	NOUN
ajfa-93	202	18	as	as	ADP
ajfa-93	202	19	the	the	DET
ajfa-93	202	20	previous	previous	ADJ
ajfa-93	202	21	models	model	NOUN
ajfa-93	202	22	.	.	PUNCT
ajfa-93	203	1	all	all	DET
ajfa-93	203	2	the	the	DET
ajfa-93	203	3	disaggregated	disaggregate	VERB
ajfa-93	203	4	cgscore	cgscore	NOUN
ajfa-93	203	5	elements	element	NOUN
ajfa-93	203	6	were	be	AUX
ajfa-93	203	7	insignificant	insignificant	ADJ
ajfa-93	203	8	,	,	PUNCT
ajfa-93	203	9	and	and	CCONJ
ajfa-93	203	10	all	all	PRON
ajfa-93	203	11	except	except	SCONJ
ajfa-93	203	12	one	one	PRON
ajfa-93	203	13	still	still	ADV
ajfa-93	203	14	had	have	VERB
ajfa-93	203	15	signs	sign	NOUN
ajfa-93	203	16	contrary	contrary	ADJ
ajfa-93	203	17	to	to	ADP
ajfa-93	203	18	prediction	prediction	NOUN
ajfa-93	203	19	(	(	PUNCT
ajfa-93	203	20	i.e.	i.e.	X
ajfa-93	203	21	negative	negative	ADJ
ajfa-93	203	22	)	)	PUNCT
ajfa-93	203	23	.	.	PUNCT
ajfa-93	204	1	the	the	DET
ajfa-93	204	2	only	only	ADJ
ajfa-93	204	3	corporate	corporate	ADJ
ajfa-93	204	4	governance	governance	NOUN
ajfa-93	204	5	variable	variable	NOUN
ajfa-93	204	6	with	with	ADP
ajfa-93	204	7	a	a	DET
ajfa-93	204	8	positive	positive	ADJ
ajfa-93	204	9	sign	sign	NOUN
ajfa-93	204	10	was	be	AUX
ajfa-93	204	11	proc	proc	NOUN
ajfa-93	204	12	(	(	PUNCT
ajfa-93	204	13	the	the	DET
ajfa-93	204	14	proportion	proportion	NOUN
ajfa-93	204	15	of	of	ADP
ajfa-93	204	16	score	score	NOUN
ajfa-93	204	17	for	for	ADP
ajfa-93	204	18	having	have	VERB
ajfa-93	204	19	a	a	DET
ajfa-93	204	20	board	board	NOUN
ajfa-93	204	21	charter	charter	NOUN
ajfa-93	204	22	and	and	CCONJ
ajfa-93	204	23	a	a	DET
ajfa-93	204	24	code	code	NOUN
ajfa-93	204	25	of	of	ADP
ajfa-93	204	26	conduct	conduct	NOUN
ajfa-93	204	27	)	)	PUNCT
ajfa-93	204	28	,	,	PUNCT
ajfa-93	204	29	but	but	CCONJ
ajfa-93	204	30	still	still	ADV
ajfa-93	204	31	not	not	PART
ajfa-93	204	32	a	a	DET
ajfa-93	204	33	significant	significant	ADJ
ajfa-93	204	34	influence	influence	NOUN
ajfa-93	204	35	on	on	ADP
ajfa-93	204	36	credit	credit	NOUN
ajfa-93	204	37	ratings	rating	NOUN
ajfa-93	204	38	.	.	PUNCT
ajfa-93	205	1	spearman‟s	spearman‟s	PROPN
ajfa-93	205	2	rho	rho	ADJ
ajfa-93	205	3	correlations	correlation	NOUN
ajfa-93	205	4	between	between	ADP
ajfa-93	205	5	these	these	DET
ajfa-93	205	6	variables	variable	NOUN
ajfa-93	205	7	indicate	indicate	VERB
ajfa-93	205	8	that	that	DET
ajfa-93	205	9	indep	indep	NOUN
ajfa-93	205	10	is	be	AUX
ajfa-93	205	11	positively	positively	ADV
ajfa-93	205	12	correlated	correlate	VERB
ajfa-93	205	13	with	with	ADP
ajfa-93	205	14	size	size	NOUN
ajfa-93	205	15	(	(	PUNCT
ajfa-93	205	16	possibly	possibly	ADV
ajfa-93	205	17	larger	large	ADJ
ajfa-93	205	18	companies	company	NOUN
ajfa-93	205	19	are	be	AUX
ajfa-93	205	20	able	able	ADJ
ajfa-93	205	21	to	to	PART
ajfa-93	205	22	have	have	VERB
ajfa-93	205	23	an	an	DET
ajfa-93	205	24	increased	increase	VERB
ajfa-93	205	25	board	board	NOUN
ajfa-93	205	26	size	size	NOUN
ajfa-93	205	27	and	and	CCONJ
ajfa-93	205	28	accommodate	accommodate	VERB
ajfa-93	205	29	more	more	ADV
ajfa-93	205	30	independent	independent	ADJ
ajfa-93	205	31	outside	outside	ADJ
ajfa-93	205	32	directors	director	NOUN
ajfa-93	205	33	thus	thus	ADV
ajfa-93	205	34	enabling	enable	VERB
ajfa-93	205	35	a	a	DET
ajfa-93	205	36	more	more	ADV
ajfa-93	205	37	independent	independent	ADJ
ajfa-93	205	38	governance	governance	NOUN
ajfa-93	205	39	structure	structure	NOUN
ajfa-93	205	40	overall	overall	ADV
ajfa-93	205	41	)	)	PUNCT
ajfa-93	205	42	.	.	PUNCT
ajfa-93	206	1	the	the	DET
ajfa-93	206	2	individual	individual	ADJ
ajfa-93	206	3	corporate	corporate	ADJ
ajfa-93	206	4	governance	governance	NOUN
ajfa-93	206	5	indicators	indicator	NOUN
ajfa-93	206	6	also	also	ADV
ajfa-93	206	7	tended	tend	VERB
ajfa-93	206	8	to	to	PART
ajfa-93	206	9	be	be	AUX
ajfa-93	206	10	correlated	correlate	VERB
ajfa-93	206	11	with	with	ADP
ajfa-93	206	12	each	each	DET
ajfa-93	206	13	asian	asian	ADJ
ajfa-93	206	14	journal	journal	NOUN
ajfa-93	206	15	of	of	ADP
ajfa-93	206	16	finance	finance	PROPN
ajfa-93	206	17	&	&	CCONJ
ajfa-93	206	18	accounting	accounting	PROPN
ajfa-93	206	19	issn	issn	PROPN
ajfa-93	206	20	1946	1946	NUM
ajfa-93	206	21	-	-	PUNCT
ajfa-93	206	22	052x	052x	NOUN
ajfa-93	206	23	200x	200x	NUM
ajfa-93	206	24	,	,	PUNCT
ajfa-93	206	25	vol	vol	NOUN
ajfa-93	206	26	.	.	PROPN
ajfa-93	207	1	1	1	NUM
ajfa-93	207	2	,	,	PUNCT
ajfa-93	207	3	no	no	INTJ
ajfa-93	207	4	.	.	NOUN
ajfa-93	207	5	1	1	NUM
ajfa-93	207	6	:	:	PUNCT
ajfa-93	207	7	e1	e1	VERB
ajfa-93	207	8	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-93	207	9	48	48	NUM
ajfa-93	207	10	other	other	ADJ
ajfa-93	207	11	:	:	PUNCT
ajfa-93	207	12	indep	indep	NOUN
ajfa-93	207	13	positively	positively	ADV
ajfa-93	207	14	related	relate	VERB
ajfa-93	207	15	to	to	ADP
ajfa-93	207	16	discl	discl	PROPN
ajfa-93	207	17	and	and	CCONJ
ajfa-93	207	18	discl	discl	PROPN
ajfa-93	207	19	positively	positively	ADV
ajfa-93	207	20	correlated	correlate	VERB
ajfa-93	207	21	with	with	ADP
ajfa-93	207	22	proc	proc	NOUN
ajfa-93	207	23	.	.	PUNCT
ajfa-93	208	1	sust	sust	PROPN
ajfa-93	208	2	is	be	AUX
ajfa-93	208	3	positively	positively	ADV
ajfa-93	208	4	correlated	correlate	VERB
ajfa-93	208	5	with	with	ADP
ajfa-93	208	6	discl	discl	PROPN
ajfa-93	208	7	and	and	CCONJ
ajfa-93	208	8	indep	indep	NOUN
ajfa-93	208	9	suggesting	suggest	VERB
ajfa-93	208	10	that	that	SCONJ
ajfa-93	208	11	independent	independent	ADJ
ajfa-93	208	12	boards	board	NOUN
ajfa-93	208	13	are	be	AUX
ajfa-93	208	14	more	more	ADV
ajfa-93	208	15	likely	likely	ADJ
ajfa-93	208	16	to	to	PART
ajfa-93	208	17	disclose	disclose	VERB
ajfa-93	208	18	both	both	PRON
ajfa-93	208	19	corporate	corporate	ADJ
ajfa-93	208	20	governance	governance	NOUN
ajfa-93	208	21	and	and	CCONJ
ajfa-93	208	22	sustainability	sustainability	NOUN
ajfa-93	208	23	information	information	NOUN
ajfa-93	208	24	.	.	PUNCT
ajfa-93	209	1	cgscore	cgscore	NOUN
ajfa-93	209	2	was	be	AUX
ajfa-93	209	3	further	far	ADV
ajfa-93	209	4	disaggregated	disaggregate	VERB
ajfa-93	209	5	based	base	VERB
ajfa-93	209	6	on	on	ADP
ajfa-93	209	7	individual	individual	ADJ
ajfa-93	209	8	aspects	aspect	NOUN
ajfa-93	209	9	of	of	ADP
ajfa-93	209	10	corporate	corporate	ADJ
ajfa-93	209	11	governance	governance	NOUN
ajfa-93	209	12	found	find	VERB
ajfa-93	209	13	to	to	PART
ajfa-93	209	14	be	be	AUX
ajfa-93	209	15	significant	significant	ADJ
ajfa-93	209	16	in	in	ADP
ajfa-93	209	17	prior	prior	ADJ
ajfa-93	209	18	research	research	NOUN
ajfa-93	209	19	(	(	PUNCT
ajfa-93	209	20	model	model	NOUN
ajfa-93	209	21	3	3	NUM
ajfa-93	209	22	)	)	PUNCT
ajfa-93	209	23	.	.	PUNCT
ajfa-93	210	1	ashbaugh	ashbaugh	NOUN
ajfa-93	210	2	-	-	PUNCT
ajfa-93	210	3	skaife	skaife	NOUN
ajfa-93	210	4	et	et	PROPN
ajfa-93	210	5	al	al	PROPN
ajfa-93	210	6	(	(	PUNCT
ajfa-93	210	7	2006	2006	NUM
ajfa-93	210	8	)	)	PUNCT
ajfa-93	210	9	found	find	VERB
ajfa-93	210	10	credit	credit	NOUN
ajfa-93	210	11	ratings	rating	NOUN
ajfa-93	210	12	to	to	PART
ajfa-93	210	13	be	be	AUX
ajfa-93	210	14	positively	positively	ADV
ajfa-93	210	15	related	relate	VERB
ajfa-93	210	16	to	to	ADP
ajfa-93	210	17	board	board	VERB
ajfa-93	210	18	independence	independence	NOUN
ajfa-93	210	19	and	and	CCONJ
ajfa-93	210	20	negatively	negatively	ADV
ajfa-93	210	21	associated	associate	VERB
ajfa-93	210	22	with	with	ADP
ajfa-93	210	23	increased	increase	VERB
ajfa-93	210	24	ceo	ceo	NOUN
ajfa-93	210	25	power	power	NOUN
ajfa-93	210	26	(	(	PUNCT
ajfa-93	210	27	i.e.	i.e.	X
ajfa-93	210	28	negatively	negatively	ADV
ajfa-93	210	29	associated	associate	VERB
ajfa-93	210	30	with	with	ADP
ajfa-93	210	31	the	the	DET
ajfa-93	210	32	ceo	ceo	PROPN
ajfa-93	210	33	and	and	CCONJ
ajfa-93	210	34	board	board	NOUN
ajfa-93	210	35	chair	chair	NOUN
ajfa-93	210	36	being	be	AUX
ajfa-93	210	37	the	the	DET
ajfa-93	210	38	same	same	ADJ
ajfa-93	210	39	person	person	NOUN
ajfa-93	210	40	)	)	PUNCT
ajfa-93	210	41	.	.	PUNCT
ajfa-93	211	1	anderson	anderson	PROPN
ajfa-93	211	2	et	et	PROPN
ajfa-93	211	3	al	al	PROPN
ajfa-93	211	4	.	.	PROPN
ajfa-93	211	5	(	(	PUNCT
ajfa-93	211	6	2004	2004	NUM
ajfa-93	211	7	)	)	PUNCT
ajfa-93	211	8	found	find	VERB
ajfa-93	211	9	cost	cost	NOUN
ajfa-93	211	10	of	of	ADP
ajfa-93	211	11	debt	debt	NOUN
ajfa-93	211	12	to	to	PART
ajfa-93	211	13	be	be	AUX
ajfa-93	211	14	inversely	inversely	ADV
ajfa-93	211	15	related	relate	VERB
ajfa-93	211	16	to	to	ADP
ajfa-93	211	17	board	board	NOUN
ajfa-93	211	18	size	size	NOUN
ajfa-93	211	19	and	and	CCONJ
ajfa-93	211	20	independence	independence	NOUN
ajfa-93	211	21	and	and	CCONJ
ajfa-93	211	22	also	also	ADV
ajfa-93	211	23	audit	audit	NOUN
ajfa-93	211	24	committee	committee	NOUN
ajfa-93	211	25	independence	independence	NOUN
ajfa-93	211	26	,	,	PUNCT
ajfa-93	211	27	size	size	NOUN
ajfa-93	211	28	and	and	CCONJ
ajfa-93	211	29	meeting	meeting	NOUN
ajfa-93	211	30	frequency	frequency	NOUN
ajfa-93	211	31	.	.	PUNCT
ajfa-93	212	1	board	board	NOUN
ajfa-93	212	2	and	and	CCONJ
ajfa-93	212	3	audit	audit	NOUN
ajfa-93	212	4	committee	committee	NOUN
ajfa-93	212	5	and	and	CCONJ
ajfa-93	212	6	independence	independence	NOUN
ajfa-93	212	7	and	and	CCONJ
ajfa-93	212	8	size	size	NOUN
ajfa-93	212	9	are	be	AUX
ajfa-93	212	10	likely	likely	ADJ
ajfa-93	212	11	to	to	PART
ajfa-93	212	12	be	be	AUX
ajfa-93	212	13	correlated	correlate	VERB
ajfa-93	212	14	,	,	PUNCT
ajfa-93	212	15	so	so	ADV
ajfa-93	212	16	it	it	PRON
ajfa-93	212	17	was	be	AUX
ajfa-93	212	18	decided	decide	VERB
ajfa-93	212	19	to	to	PART
ajfa-93	212	20	test	test	VERB
ajfa-93	212	21	board	board	NOUN
ajfa-93	212	22	independence	independence	NOUN
ajfa-93	212	23	,	,	PUNCT
ajfa-93	212	24	board	board	NOUN
ajfa-93	212	25	size	size	NOUN
ajfa-93	212	26	and	and	CCONJ
ajfa-93	212	27	separation	separation	NOUN
ajfa-93	212	28	of	of	ADP
ajfa-93	212	29	ceo	ceo	NOUN
ajfa-93	212	30	/	/	SYM
ajfa-93	212	31	board	board	NOUN
ajfa-93	212	32	chair	chair	NOUN
ajfa-93	212	33	.	.	PUNCT
ajfa-93	213	1	again	again	ADV
ajfa-93	213	2	the	the	DET
ajfa-93	213	3	variables	variable	NOUN
ajfa-93	213	4	size	size	NOUN
ajfa-93	213	5	,	,	PUNCT
ajfa-93	213	6	lev	lev	NOUN
ajfa-93	213	7	and	and	CCONJ
ajfa-93	213	8	grow	grow	VERB
ajfa-93	213	9	were	be	AUX
ajfa-93	213	10	significant	significant	ADJ
ajfa-93	213	11	,	,	PUNCT
ajfa-93	213	12	all	all	ADV
ajfa-93	213	13	with	with	ADP
ajfa-93	213	14	the	the	DET
ajfa-93	213	15	same	same	ADJ
ajfa-93	213	16	signs	sign	NOUN
ajfa-93	213	17	as	as	ADP
ajfa-93	213	18	the	the	DET
ajfa-93	213	19	previous	previous	ADJ
ajfa-93	213	20	models	model	NOUN
ajfa-93	213	21	.	.	PUNCT
ajfa-93	214	1	bdind	bdind	NOUN
ajfa-93	214	2	was	be	AUX
ajfa-93	214	3	positive	positive	ADJ
ajfa-93	214	4	and	and	CCONJ
ajfa-93	214	5	bdsize	bdsize	VERB
ajfa-93	214	6	negative	negative	ADJ
ajfa-93	214	7	(	(	PUNCT
ajfa-93	214	8	contrary	contrary	ADJ
ajfa-93	214	9	to	to	ADP
ajfa-93	214	10	expectations	expectation	NOUN
ajfa-93	214	11	for	for	ADP
ajfa-93	214	12	bdsize	bdsize	NOUN
ajfa-93	214	13	)	)	PUNCT
ajfa-93	214	14	but	but	CCONJ
ajfa-93	214	15	both	both	PRON
ajfa-93	214	16	had	have	VERB
ajfa-93	214	17	no	no	DET
ajfa-93	214	18	explanatory	explanatory	ADJ
ajfa-93	214	19	significance	significance	NOUN
ajfa-93	214	20	regarding	regard	VERB
ajfa-93	214	21	the	the	DET
ajfa-93	214	22	proxy	proxy	NOUN
ajfa-93	214	23	for	for	ADP
ajfa-93	214	24	cost	cost	NOUN
ajfa-93	214	25	of	of	ADP
ajfa-93	214	26	debt	debt	NOUN
ajfa-93	214	27	(	(	PUNCT
ajfa-93	214	28	credit	credit	NOUN
ajfa-93	214	29	ratings	rating	NOUN
ajfa-93	214	30	)	)	PUNCT
ajfa-93	214	31	.	.	PUNCT
ajfa-93	215	1	ceochair	ceochair	PROPN
ajfa-93	215	2	was	be	AUX
ajfa-93	215	3	marginally	marginally	ADV
ajfa-93	215	4	significant	significant	ADJ
ajfa-93	215	5	but	but	CCONJ
ajfa-93	215	6	was	be	AUX
ajfa-93	215	7	negatively	negatively	ADV
ajfa-93	215	8	related	relate	VERB
ajfa-93	215	9	to	to	ADP
ajfa-93	215	10	the	the	DET
ajfa-93	215	11	credit	credit	NOUN
ajfa-93	215	12	ratings	rating	NOUN
ajfa-93	215	13	,	,	PUNCT
ajfa-93	215	14	in	in	ADP
ajfa-93	215	15	other	other	ADJ
ajfa-93	215	16	words	word	NOUN
ajfa-93	215	17	having	have	VERB
ajfa-93	215	18	a	a	DET
ajfa-93	215	19	separate	separate	ADJ
ajfa-93	215	20	ceo	ceo	NOUN
ajfa-93	215	21	/	/	SYM
ajfa-93	215	22	board	board	NOUN
ajfa-93	215	23	chair	chair	NOUN
ajfa-93	215	24	had	have	VERB
ajfa-93	215	25	a	a	DET
ajfa-93	215	26	negative	negative	ADJ
ajfa-93	215	27	effect	effect	NOUN
ajfa-93	215	28	on	on	ADP
ajfa-93	215	29	ratings	rating	NOUN
ajfa-93	215	30	.	.	PUNCT
ajfa-93	216	1	ceochair	ceochair	NOUN
ajfa-93	216	2	was	be	AUX
ajfa-93	216	3	not	not	PART
ajfa-93	216	4	highly	highly	ADV
ajfa-93	216	5	correlated	correlate	VERB
ajfa-93	216	6	with	with	ADP
ajfa-93	216	7	any	any	DET
ajfa-93	216	8	other	other	ADJ
ajfa-93	216	9	variable	variable	NOUN
ajfa-93	216	10	in	in	ADP
ajfa-93	216	11	this	this	DET
ajfa-93	216	12	model	model	NOUN
ajfa-93	216	13	.	.	PUNCT
ajfa-93	217	1	bdind	bdind	NOUN
ajfa-93	217	2	was	be	AUX
ajfa-93	217	3	significantly	significantly	ADV
ajfa-93	217	4	positively	positively	ADV
ajfa-93	217	5	correlated	correlate	VERB
ajfa-93	217	6	with	with	ADP
ajfa-93	217	7	firm	firm	ADJ
ajfa-93	217	8	size	size	NOUN
ajfa-93	217	9	and	and	CCONJ
ajfa-93	217	10	therefore	therefore	ADV
ajfa-93	217	11	might	might	AUX
ajfa-93	217	12	be	be	AUX
ajfa-93	217	13	significant	significant	ADJ
ajfa-93	217	14	but	but	CCONJ
ajfa-93	217	15	this	this	PRON
ajfa-93	217	16	is	be	AUX
ajfa-93	217	17	masked	mask	VERB
ajfa-93	217	18	by	by	ADP
ajfa-93	217	19	the	the	DET
ajfa-93	217	20	correlation	correlation	NOUN
ajfa-93	217	21	.	.	PUNCT
ajfa-93	218	1	bdsize	bdsize	PROPN
ajfa-93	218	2	was	be	AUX
ajfa-93	218	3	also	also	ADV
ajfa-93	218	4	significantly	significantly	ADV
ajfa-93	218	5	correlated	correlate	VERB
ajfa-93	218	6	with	with	ADP
ajfa-93	218	7	firm	firm	ADJ
ajfa-93	218	8	size	size	NOUN
ajfa-93	218	9	.	.	PUNCT
ajfa-93	219	1	sust	sust	NOUN
ajfa-93	219	2	is	be	AUX
ajfa-93	219	3	positively	positively	ADV
ajfa-93	219	4	correlated	correlate	VERB
ajfa-93	219	5	with	with	ADP
ajfa-93	219	6	both	both	CCONJ
ajfa-93	219	7	bdsize	bdsize	VERB
ajfa-93	219	8	and	and	CCONJ
ajfa-93	219	9	bdind	bdind	NOUN
ajfa-93	219	10	.	.	PUNCT
ajfa-93	220	1	we	we	PRON
ajfa-93	220	2	also	also	ADV
ajfa-93	220	3	tested	test	VERB
ajfa-93	220	4	whether	whether	SCONJ
ajfa-93	220	5	industry	industry	NOUN
ajfa-93	220	6	type	type	NOUN
ajfa-93	220	7	or	or	CCONJ
ajfa-93	220	8	cross	cross	NOUN
ajfa-93	220	9	-	-	ADJ
ajfa-93	220	10	listing	listing	NOUN
ajfa-93	220	11	were	be	AUX
ajfa-93	220	12	influential	influential	ADJ
ajfa-93	220	13	.	.	PUNCT
ajfa-93	221	1	specifically	specifically	ADV
ajfa-93	221	2	it	it	PRON
ajfa-93	221	3	was	be	AUX
ajfa-93	221	4	expected	expect	VERB
ajfa-93	221	5	that	that	SCONJ
ajfa-93	221	6	mining	mining	NOUN
ajfa-93	221	7	might	might	AUX
ajfa-93	221	8	be	be	AUX
ajfa-93	221	9	higher	high	ADJ
ajfa-93	221	10	risk	risk	NOUN
ajfa-93	221	11	(	(	PUNCT
ajfa-93	221	12	negative	negative	ADJ
ajfa-93	221	13	relationship	relationship	NOUN
ajfa-93	221	14	with	with	ADP
ajfa-93	221	15	credit	credit	NOUN
ajfa-93	221	16	ratings	rating	NOUN
ajfa-93	221	17	)	)	PUNCT
ajfa-93	221	18	and	and	CCONJ
ajfa-93	221	19	real	real	ADJ
ajfa-93	221	20	estate	estate	NOUN
ajfa-93	221	21	might	might	AUX
ajfa-93	221	22	be	be	AUX
ajfa-93	221	23	lower	low	ADJ
ajfa-93	221	24	risk	risk	NOUN
ajfa-93	221	25	(	(	PUNCT
ajfa-93	221	26	positive	positive	ADJ
ajfa-93	221	27	relationship	relationship	NOUN
ajfa-93	221	28	with	with	ADP
ajfa-93	221	29	credit	credit	NOUN
ajfa-93	221	30	ratings	rating	NOUN
ajfa-93	221	31	)	)	PUNCT
ajfa-93	221	32	,	,	PUNCT
ajfa-93	221	33	and	and	CCONJ
ajfa-93	221	34	cross	cross	NOUN
ajfa-93	221	35	listing	list	VERB
ajfa-93	221	36	might	might	AUX
ajfa-93	221	37	affect	affect	VERB
ajfa-93	221	38	corporate	corporate	ADJ
ajfa-93	221	39	governance	governance	NOUN
ajfa-93	221	40	positively	positively	ADV
ajfa-93	221	41	(	(	PUNCT
ajfa-93	221	42	so	so	ADV
ajfa-93	221	43	improve	improve	VERB
ajfa-93	221	44	credit	credit	NOUN
ajfa-93	221	45	ratings	rating	NOUN
ajfa-93	221	46	)	)	PUNCT
ajfa-93	221	47	.	.	PUNCT
ajfa-93	222	1	however	however	ADV
ajfa-93	222	2	results	result	NOUN
ajfa-93	222	3	of	of	ADP
ajfa-93	222	4	these	these	DET
ajfa-93	222	5	additional	additional	ADJ
ajfa-93	222	6	tests	test	NOUN
ajfa-93	222	7	indicate	indicate	VERB
ajfa-93	222	8	that	that	SCONJ
ajfa-93	222	9	none	none	NOUN
ajfa-93	222	10	of	of	ADP
ajfa-93	222	11	these	these	DET
ajfa-93	222	12	variables	variable	NOUN
ajfa-93	222	13	were	be	AUX
ajfa-93	222	14	influential	influential	ADJ
ajfa-93	222	15	.	.	PUNCT
ajfa-93	223	1	table	table	NOUN
ajfa-93	223	2	7	7	NUM
ajfa-93	223	3	presents	present	VERB
ajfa-93	223	4	diagnostic	diagnostic	ADJ
ajfa-93	223	5	tests	test	NOUN
ajfa-93	223	6	for	for	ADP
ajfa-93	223	7	each	each	PRON
ajfa-93	223	8	of	of	ADP
ajfa-93	223	9	the	the	DET
ajfa-93	223	10	regression	regression	NOUN
ajfa-93	223	11	models	model	NOUN
ajfa-93	223	12	shown	show	VERB
ajfa-93	223	13	in	in	ADP
ajfa-93	223	14	table	table	NOUN
ajfa-93	223	15	5	5	NUM
ajfa-93	223	16	.	.	PUNCT
ajfa-93	224	1	the	the	DET
ajfa-93	224	2	breusch	breusch	ADV
ajfa-93	224	3	-	-	PUNCT
ajfa-93	224	4	pagan	pagan	VERB
ajfa-93	224	5	-	-	PUNCT
ajfa-93	224	6	godfrey	godfrey	NOUN
ajfa-93	224	7	test	test	NOUN
ajfa-93	224	8	indicates	indicate	VERB
ajfa-93	224	9	that	that	SCONJ
ajfa-93	224	10	there	there	PRON
ajfa-93	224	11	is	be	VERB
ajfa-93	224	12	heteroscedasticity	heteroscedasticity	NOUN
ajfa-93	224	13	for	for	ADP
ajfa-93	224	14	models	model	NOUN
ajfa-93	224	15	1	1	NUM
ajfa-93	224	16	and	and	CCONJ
ajfa-93	224	17	2	2	NUM
ajfa-93	224	18	.	.	PUNCT
ajfa-93	225	1	these	these	DET
ajfa-93	225	2	models	model	NOUN
ajfa-93	225	3	were	be	AUX
ajfa-93	225	4	therefore	therefore	ADV
ajfa-93	225	5	re	re	VERB
ajfa-93	225	6	-	-	VERB
ajfa-93	225	7	estimated	estimated	ADJ
ajfa-93	225	8	using	use	VERB
ajfa-93	225	9	white‟s	white‟s	ADJ
ajfa-93	225	10	correction	correction	NOUN
ajfa-93	225	11	.	.	PUNCT
ajfa-93	226	1	this	this	PRON
ajfa-93	226	2	yielded	yield	VERB
ajfa-93	226	3	results	result	NOUN
ajfa-93	226	4	essentially	essentially	ADV
ajfa-93	226	5	the	the	DET
ajfa-93	226	6	same	same	ADJ
ajfa-93	226	7	as	as	ADP
ajfa-93	226	8	those	those	PRON
ajfa-93	226	9	shown	show	VERB
ajfa-93	226	10	in	in	ADP
ajfa-93	226	11	table	table	NOUN
ajfa-93	226	12	5	5	NUM
ajfa-93	226	13	.	.	PUNCT
ajfa-93	226	14	jarque	jarque	NOUN
ajfa-93	226	15	-	-	PUNCT
ajfa-93	226	16	bera	bera	NOUN
ajfa-93	226	17	test	test	NOUN
ajfa-93	226	18	statistics	statistic	NOUN
ajfa-93	226	19	indicate	indicate	VERB
ajfa-93	226	20	that	that	SCONJ
ajfa-93	226	21	the	the	DET
ajfa-93	226	22	residuals	residual	NOUN
ajfa-93	226	23	for	for	ADP
ajfa-93	226	24	each	each	PRON
ajfa-93	226	25	of	of	ADP
ajfa-93	226	26	our	our	PRON
ajfa-93	226	27	models	model	NOUN
ajfa-93	226	28	do	do	AUX
ajfa-93	226	29	not	not	PART
ajfa-93	226	30	depart	depart	VERB
ajfa-93	226	31	from	from	ADP
ajfa-93	226	32	the	the	DET
ajfa-93	226	33	normal	normal	ADJ
ajfa-93	226	34	distribution	distribution	NOUN
ajfa-93	226	35	.	.	PUNCT
ajfa-93	227	1	durbin	durbin	ADJ
ajfa-93	227	2	-	-	PUNCT
ajfa-93	227	3	whatson	whatson	NOUN
ajfa-93	227	4	statistics	statistic	NOUN
ajfa-93	227	5	indicate	indicate	VERB
ajfa-93	227	6	no	no	DET
ajfa-93	227	7	autocorrelation	autocorrelation	NOUN
ajfa-93	227	8	of	of	ADP
ajfa-93	227	9	residuals	residual	NOUN
ajfa-93	227	10	for	for	ADP
ajfa-93	227	11	model	model	NOUN
ajfa-93	227	12	1	1	NUM
ajfa-93	227	13	,	,	PUNCT
ajfa-93	227	14	while	while	SCONJ
ajfa-93	227	15	models	model	NOUN
ajfa-93	227	16	2	2	NUM
ajfa-93	227	17	and	and	CCONJ
ajfa-93	227	18	3	3	NUM
ajfa-93	227	19	fall	fall	NOUN
ajfa-93	227	20	within	within	ADP
ajfa-93	227	21	the	the	DET
ajfa-93	227	22	indecision	indecision	NOUN
ajfa-93	227	23	areas	area	NOUN
ajfa-93	227	24	indicating	indicate	VERB
ajfa-93	227	25	possible	possible	ADJ
ajfa-93	227	26	autocorrelation	autocorrelation	NOUN
ajfa-93	227	27	(	(	PUNCT
ajfa-93	227	28	tabachnick	tabachnick	NOUN
ajfa-93	227	29	&	&	CCONJ
ajfa-93	227	30	fidell	fidell	PROPN
ajfa-93	227	31	,	,	PUNCT
ajfa-93	227	32	1996	1996	NUM
ajfa-93	227	33	)	)	PUNCT
ajfa-93	227	34	.	.	PUNCT
ajfa-93	228	1	table	table	NOUN
ajfa-93	228	2	7	7	NUM
ajfa-93	228	3	–	–	PUNCT
ajfa-93	228	4	diagnostic	diagnostic	ADJ
ajfa-93	228	5	test	test	NOUN
ajfa-93	228	6	statistics	statistic	NOUN
ajfa-93	228	7	(	(	PUNCT
ajfa-93	228	8	figures	figure	NOUN
ajfa-93	228	9	in	in	ADP
ajfa-93	228	10	parenthesis	parenthesis	NOUN
ajfa-93	228	11	are	be	AUX
ajfa-93	228	12	probabilities	probability	NOUN
ajfa-93	228	13	)	)	PUNCT
ajfa-93	228	14	test	test	NOUN
ajfa-93	228	15	statistic	statistic	NOUN
ajfa-93	228	16	model	model	NOUN
ajfa-93	228	17	1	1	NUM
ajfa-93	228	18	model	model	NOUN
ajfa-93	228	19	2	2	NUM
ajfa-93	228	20	model	model	NOUN
ajfa-93	228	21	3	3	NUM
ajfa-93	228	22	breusch	breusch	ADV
ajfa-93	228	23	-	-	PUNCT
ajfa-93	228	24	pagan	pagan	VERB
ajfa-93	228	25	-	-	PUNCT
ajfa-93	228	26	godfrey	godfrey	PROPN
ajfa-93	228	27	2.491	2.491	NUM
ajfa-93	228	28	(	(	PUNCT
ajfa-93	228	29	0.044	0.044	NUM
ajfa-93	228	30	)	)	PUNCT
ajfa-93	228	31	2.833	2.833	NUM
ajfa-93	228	32	(	(	PUNCT
ajfa-93	228	33	0.019	0.019	NUM
ajfa-93	228	34	)	)	PUNCT
ajfa-93	228	35	1.777	1.777	NUM
ajfa-93	228	36	(	(	PUNCT
ajfa-93	228	37	0.123	0.123	NUM
ajfa-93	228	38	)	)	PUNCT
ajfa-93	228	39	jarque	jarque	NOUN
ajfa-93	228	40	-	-	PUNCT
ajfa-93	228	41	bera	bera	NOUN
ajfa-93	228	42	0.307	0.307	NUM
ajfa-93	228	43	(	(	PUNCT
ajfa-93	228	44	0.858	0.858	NUM
ajfa-93	228	45	)	)	PUNCT
ajfa-93	228	46	0.198	0.198	NUM
ajfa-93	228	47	(	(	PUNCT
ajfa-93	228	48	0.906	0.906	NUM
ajfa-93	228	49	)	)	PUNCT
ajfa-93	228	50	0.592	0.592	NUM
ajfa-93	228	51	(	(	PUNCT
ajfa-93	228	52	0.744	0.744	NUM
ajfa-93	228	53	)	)	PUNCT
ajfa-93	228	54	durbin	durbin	NOUN
ajfa-93	228	55	-	-	PUNCT
ajfa-93	228	56	whatson	whatson	NOUN
ajfa-93	228	57	2.020	2.020	NUM
ajfa-93	228	58	1.778	1.778	NUM
ajfa-93	228	59	1.596	1.596	NUM
ajfa-93	228	60	ramsey	ramsey	NOUN
ajfa-93	228	61	reset	reset	VERB
ajfa-93	228	62	3.035	3.035	NUM
ajfa-93	228	63	(	(	PUNCT
ajfa-93	228	64	0.064	0.064	NUM
ajfa-93	228	65	)	)	PUNCT
ajfa-93	228	66	3.347	3.347	NUM
ajfa-93	228	67	(	(	PUNCT
ajfa-93	228	68	0.050	0.050	NUM
ajfa-93	228	69	)	)	PUNCT
ajfa-93	228	70	4.013	4.013	NUM
ajfa-93	228	71	(	(	PUNCT
ajfa-93	228	72	0.030	0.030	NUM
ajfa-93	228	73	)	)	PUNCT
ajfa-93	228	74	asian	asian	ADJ
ajfa-93	228	75	journal	journal	NOUN
ajfa-93	228	76	of	of	ADP
ajfa-93	228	77	finance	finance	PROPN
ajfa-93	228	78	&	&	CCONJ
ajfa-93	228	79	accounting	accounting	PROPN
ajfa-93	228	80	issn	issn	PROPN
ajfa-93	228	81	1946	1946	NUM
ajfa-93	228	82	-	-	PUNCT
ajfa-93	228	83	052x	052x	NOUN
ajfa-93	228	84	200x	200x	NUM
ajfa-93	228	85	,	,	PUNCT
ajfa-93	228	86	vol	vol	NOUN
ajfa-93	228	87	.	.	PROPN
ajfa-93	229	1	1	1	NUM
ajfa-93	229	2	,	,	PUNCT
ajfa-93	229	3	no	no	INTJ
ajfa-93	229	4	.	.	NOUN
ajfa-93	229	5	1	1	NUM
ajfa-93	229	6	:	:	PUNCT
ajfa-93	229	7	e1	e1	VERB
ajfa-93	229	8	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-93	229	9	49	49	NUM
ajfa-93	229	10	ramsey‟s	ramsey‟s	ADJ
ajfa-93	229	11	reset	reset	NOUN
ajfa-93	229	12	(	(	PUNCT
ajfa-93	229	13	regression	regression	NOUN
ajfa-93	229	14	specification	specification	NOUN
ajfa-93	229	15	error	error	NOUN
ajfa-93	229	16	test	test	NOUN
ajfa-93	229	17	)	)	PUNCT
ajfa-93	229	18	is	be	AUX
ajfa-93	229	19	a	a	DET
ajfa-93	229	20	general	general	ADJ
ajfa-93	229	21	test	test	NOUN
ajfa-93	229	22	for	for	ADP
ajfa-93	229	23	misspecification	misspecification	NOUN
ajfa-93	229	24	of	of	ADP
ajfa-93	229	25	a	a	DET
ajfa-93	229	26	model‟s	model‟s	ADJ
ajfa-93	229	27	functional	functional	ADJ
ajfa-93	229	28	form	form	NOUN
ajfa-93	230	1	[	[	X
ajfa-93	230	2	brooks	brooks	X
ajfa-93	230	3	(	(	PUNCT
ajfa-93	230	4	2002	2002	NUM
ajfa-93	230	5	)	)	PUNCT
ajfa-93	230	6	;	;	PUNCT
ajfa-93	230	7	gujarati	gujarati	PROPN
ajfa-93	230	8	(	(	PUNCT
ajfa-93	230	9	2003	2003	NUM
ajfa-93	230	10	)	)	PUNCT
ajfa-93	230	11	]	]	PUNCT
ajfa-93	230	12	.	.	PUNCT
ajfa-93	231	1	results	result	NOUN
ajfa-93	231	2	of	of	ADP
ajfa-93	231	3	these	these	DET
ajfa-93	231	4	tests	test	NOUN
ajfa-93	231	5	indicate	indicate	VERB
ajfa-93	231	6	that	that	DET
ajfa-93	231	7	model	model	NOUN
ajfa-93	231	8	1	1	NUM
ajfa-93	231	9	is	be	AUX
ajfa-93	231	10	not	not	PART
ajfa-93	231	11	misspecified	misspecifie	VERB
ajfa-93	231	12	,	,	PUNCT
ajfa-93	231	13	while	while	SCONJ
ajfa-93	231	14	model	model	NOUN
ajfa-93	231	15	3	3	NUM
ajfa-93	231	16	is	be	AUX
ajfa-93	231	17	misspecified	misspecifie	VERB
ajfa-93	231	18	and	and	CCONJ
ajfa-93	231	19	model	model	NOUN
ajfa-93	231	20	2	2	NUM
ajfa-93	231	21	is	be	AUX
ajfa-93	231	22	marginal	marginal	ADJ
ajfa-93	231	23	.	.	PUNCT
ajfa-93	232	1	a	a	DET
ajfa-93	232	2	significant	significant	ADJ
ajfa-93	232	3	f	f	PROPN
ajfa-93	232	4	statistic	statistic	NOUN
ajfa-93	232	5	from	from	ADP
ajfa-93	232	6	the	the	DET
ajfa-93	232	7	reset	reset	NOUN
ajfa-93	232	8	test	test	NOUN
ajfa-93	232	9	is	be	AUX
ajfa-93	232	10	indicative	indicative	ADJ
ajfa-93	232	11	of	of	ADP
ajfa-93	232	12	non	non	ADJ
ajfa-93	232	13	-	-	ADJ
ajfa-93	232	14	linear	linear	ADJ
ajfa-93	232	15	parameters	parameter	NOUN
ajfa-93	232	16	in	in	ADP
ajfa-93	232	17	the	the	DET
ajfa-93	232	18	model	model	NOUN
ajfa-93	232	19	or	or	CCONJ
ajfa-93	232	20	a	a	DET
ajfa-93	232	21	relevant	relevant	ADJ
ajfa-93	232	22	variable	variable	NOUN
ajfa-93	232	23	omitted	omit	VERB
ajfa-93	232	24	from	from	ADP
ajfa-93	232	25	the	the	DET
ajfa-93	232	26	model	model	NOUN
ajfa-93	233	1	[	[	X
ajfa-93	233	2	brooks	brooks	X
ajfa-93	233	3	(	(	PUNCT
ajfa-93	233	4	2002	2002	NUM
ajfa-93	233	5	)	)	PUNCT
ajfa-93	233	6	;	;	PUNCT
ajfa-93	233	7	gujarati	gujarati	PROPN
ajfa-93	233	8	(	(	PUNCT
ajfa-93	233	9	2003	2003	NUM
ajfa-93	233	10	)	)	PUNCT
ajfa-93	233	11	]	]	PUNCT
ajfa-93	233	12	.	.	PUNCT
ajfa-93	234	1	ols	ol	NOUN
ajfa-93	234	2	estimation	estimation	NOUN
ajfa-93	234	3	produces	produce	VERB
ajfa-93	234	4	biased	biased	ADJ
ajfa-93	234	5	and	and	CCONJ
ajfa-93	234	6	inconsistent	inconsistent	ADJ
ajfa-93	234	7	parameter	parameter	NOUN
ajfa-93	234	8	estimates	estimate	NOUN
ajfa-93	234	9	when	when	SCONJ
ajfa-93	234	10	non	non	ADJ
ajfa-93	234	11	-	-	ADJ
ajfa-93	234	12	linear	linear	ADJ
ajfa-93	234	13	parameters	parameter	NOUN
ajfa-93	234	14	are	be	AUX
ajfa-93	234	15	assumed	assume	VERB
ajfa-93	234	16	linear	linear	PROPN
ajfa-93	234	17	in	in	ADP
ajfa-93	234	18	the	the	DET
ajfa-93	234	19	model	model	NOUN
ajfa-93	234	20	(	(	PUNCT
ajfa-93	234	21	kmenta	kmenta	PROPN
ajfa-93	234	22	,	,	PUNCT
ajfa-93	234	23	1971	1971	NUM
ajfa-93	234	24	)	)	PUNCT
ajfa-93	234	25	.	.	PUNCT
ajfa-93	235	1	overall	overall	ADV
ajfa-93	235	2	,	,	PUNCT
ajfa-93	235	3	the	the	DET
ajfa-93	235	4	results	result	NOUN
ajfa-93	235	5	of	of	ADP
ajfa-93	235	6	diagnostic	diagnostic	ADJ
ajfa-93	235	7	tests	test	NOUN
ajfa-93	235	8	indicate	indicate	VERB
ajfa-93	235	9	some	some	DET
ajfa-93	235	10	potential	potential	ADJ
ajfa-93	235	11	concerns	concern	NOUN
ajfa-93	235	12	with	with	ADP
ajfa-93	235	13	models	model	NOUN
ajfa-93	235	14	2	2	NUM
ajfa-93	235	15	and	and	CCONJ
ajfa-93	235	16	3	3	NUM
ajfa-93	235	17	,	,	PUNCT
ajfa-93	235	18	while	while	SCONJ
ajfa-93	235	19	model	model	NOUN
ajfa-93	235	20	1	1	NUM
ajfa-93	235	21	results	result	NOUN
ajfa-93	235	22	can	can	AUX
ajfa-93	235	23	be	be	AUX
ajfa-93	235	24	considered	consider	VERB
ajfa-93	235	25	reliable	reliable	ADJ
ajfa-93	235	26	.	.	PUNCT
ajfa-93	236	1	4	4	X
ajfa-93	236	2	.	.	X
ajfa-93	236	3	conclusions	conclusion	NOUN
ajfa-93	236	4	and	and	CCONJ
ajfa-93	236	5	future	future	ADJ
ajfa-93	236	6	directions	direction	NOUN
ajfa-93	236	7	our	our	PRON
ajfa-93	236	8	results	result	NOUN
ajfa-93	236	9	indicate	indicate	VERB
ajfa-93	236	10	that	that	SCONJ
ajfa-93	236	11	australian	australian	ADJ
ajfa-93	236	12	annual	annual	ADJ
ajfa-93	236	13	report	report	NOUN
ajfa-93	236	14	disclosures	disclosure	VERB
ajfa-93	236	15	about	about	ADP
ajfa-93	236	16	corporate	corporate	ADJ
ajfa-93	236	17	governance	governance	NOUN
ajfa-93	236	18	practices	practice	NOUN
ajfa-93	236	19	are	be	AUX
ajfa-93	236	20	not	not	PART
ajfa-93	236	21	useful	useful	ADJ
ajfa-93	236	22	for	for	ADP
ajfa-93	236	23	the	the	DET
ajfa-93	236	24	assessment	assessment	NOUN
ajfa-93	236	25	of	of	ADP
ajfa-93	236	26	default	default	NOUN
ajfa-93	236	27	risk	risk	NOUN
ajfa-93	236	28	.	.	PUNCT
ajfa-93	237	1	this	this	DET
ajfa-93	237	2	result	result	NOUN
ajfa-93	237	3	is	be	AUX
ajfa-93	237	4	in	in	ADP
ajfa-93	237	5	contrast	contrast	NOUN
ajfa-93	237	6	to	to	ADP
ajfa-93	237	7	prior	prior	ADJ
ajfa-93	237	8	research	research	NOUN
ajfa-93	237	9	conducted	conduct	VERB
ajfa-93	237	10	in	in	ADP
ajfa-93	237	11	the	the	DET
ajfa-93	237	12	us	we	PRON
ajfa-93	237	13	that	that	PRON
ajfa-93	237	14	finds	find	VERB
ajfa-93	237	15	significant	significant	ADJ
ajfa-93	237	16	relationships	relationship	NOUN
ajfa-93	237	17	between	between	ADP
ajfa-93	237	18	some	some	DET
ajfa-93	237	19	aspects	aspect	NOUN
ajfa-93	237	20	of	of	ADP
ajfa-93	237	21	corporate	corporate	ADJ
ajfa-93	237	22	governance	governance	NOUN
ajfa-93	237	23	quality	quality	NOUN
ajfa-93	237	24	and	and	CCONJ
ajfa-93	237	25	factors	factor	NOUN
ajfa-93	237	26	associated	associate	VERB
ajfa-93	237	27	with	with	ADP
ajfa-93	237	28	the	the	DET
ajfa-93	237	29	cost	cost	NOUN
ajfa-93	237	30	of	of	ADP
ajfa-93	237	31	debt	debt	NOUN
ajfa-93	237	32	.	.	PUNCT
ajfa-93	238	1	our	our	PRON
ajfa-93	238	2	results	result	NOUN
ajfa-93	238	3	also	also	ADV
ajfa-93	238	4	indicate	indicate	VERB
ajfa-93	238	5	that	that	SCONJ
ajfa-93	238	6	australian	australian	ADJ
ajfa-93	238	7	annual	annual	ADJ
ajfa-93	238	8	report	report	NOUN
ajfa-93	238	9	disclosures	disclosure	VERB
ajfa-93	238	10	about	about	ADP
ajfa-93	238	11	sustainability	sustainability	NOUN
ajfa-93	238	12	practices	practice	NOUN
ajfa-93	238	13	are	be	AUX
ajfa-93	238	14	not	not	PART
ajfa-93	238	15	useful	useful	ADJ
ajfa-93	238	16	for	for	ADP
ajfa-93	238	17	the	the	DET
ajfa-93	238	18	assessment	assessment	NOUN
ajfa-93	238	19	of	of	ADP
ajfa-93	238	20	default	default	NOUN
ajfa-93	238	21	risk	risk	NOUN
ajfa-93	238	22	when	when	SCONJ
ajfa-93	238	23	firm	firm	ADJ
ajfa-93	238	24	size	size	NOUN
ajfa-93	238	25	is	be	AUX
ajfa-93	238	26	controlled	control	VERB
ajfa-93	238	27	.	.	PUNCT
ajfa-93	239	1	it	it	PRON
ajfa-93	239	2	appears	appear	VERB
ajfa-93	239	3	that	that	SCONJ
ajfa-93	239	4	larger	large	ADJ
ajfa-93	239	5	firms	firm	NOUN
ajfa-93	239	6	have	have	VERB
ajfa-93	239	7	both	both	CCONJ
ajfa-93	239	8	better	well	ADJ
ajfa-93	239	9	credit	credit	NOUN
ajfa-93	239	10	ratings	rating	NOUN
ajfa-93	239	11	and	and	CCONJ
ajfa-93	239	12	corporate	corporate	ADJ
ajfa-93	239	13	governance	governance	NOUN
ajfa-93	239	14	and	and	CCONJ
ajfa-93	239	15	sustainability	sustainability	NOUN
ajfa-93	239	16	disclosures	disclosure	NOUN
ajfa-93	239	17	.	.	PUNCT
ajfa-93	240	1	there	there	PRON
ajfa-93	240	2	are	be	VERB
ajfa-93	240	3	several	several	ADJ
ajfa-93	240	4	potential	potential	ADJ
ajfa-93	240	5	reasons	reason	NOUN
ajfa-93	240	6	for	for	ADP
ajfa-93	240	7	the	the	DET
ajfa-93	240	8	disparity	disparity	NOUN
ajfa-93	240	9	between	between	ADP
ajfa-93	240	10	our	our	PRON
ajfa-93	240	11	corporate	corporate	ADJ
ajfa-93	240	12	governance	governance	NOUN
ajfa-93	240	13	results	result	NOUN
ajfa-93	240	14	and	and	CCONJ
ajfa-93	240	15	those	those	PRON
ajfa-93	240	16	found	find	VERB
ajfa-93	240	17	in	in	ADP
ajfa-93	240	18	the	the	DET
ajfa-93	240	19	us	us	PROPN
ajfa-93	240	20	.	.	PUNCT
ajfa-93	241	1	first	first	ADV
ajfa-93	241	2	,	,	PUNCT
ajfa-93	241	3	the	the	DET
ajfa-93	241	4	disclosures	disclosure	NOUN
ajfa-93	241	5	recommended	recommend	VERB
ajfa-93	241	6	by	by	ADP
ajfa-93	241	7	the	the	DET
ajfa-93	241	8	asx	asx	NOUN
ajfa-93	241	9	corporate	corporate	ADJ
ajfa-93	241	10	governance	governance	NOUN
ajfa-93	241	11	principles	principle	NOUN
ajfa-93	241	12	may	may	AUX
ajfa-93	241	13	be	be	AUX
ajfa-93	241	14	inadequate	inadequate	ADJ
ajfa-93	241	15	for	for	ADP
ajfa-93	241	16	the	the	DET
ajfa-93	241	17	purpose	purpose	NOUN
ajfa-93	241	18	of	of	ADP
ajfa-93	241	19	assessing	assess	VERB
ajfa-93	241	20	default	default	NOUN
ajfa-93	241	21	risk	risk	NOUN
ajfa-93	241	22	.	.	PUNCT
ajfa-93	242	1	they	they	PRON
ajfa-93	242	2	do	do	AUX
ajfa-93	242	3	not	not	PART
ajfa-93	242	4	provide	provide	VERB
ajfa-93	242	5	information	information	NOUN
ajfa-93	242	6	about	about	ADP
ajfa-93	242	7	several	several	ADJ
ajfa-93	242	8	of	of	ADP
ajfa-93	242	9	the	the	DET
ajfa-93	242	10	factors	factor	NOUN
ajfa-93	242	11	found	find	VERB
ajfa-93	242	12	to	to	PART
ajfa-93	242	13	be	be	AUX
ajfa-93	242	14	significantly	significantly	ADV
ajfa-93	242	15	related	relate	VERB
ajfa-93	242	16	to	to	ADP
ajfa-93	242	17	credit	credit	NOUN
ajfa-93	242	18	ratings	rating	NOUN
ajfa-93	242	19	and	and	CCONJ
ajfa-93	242	20	measures	measure	NOUN
ajfa-93	242	21	of	of	ADP
ajfa-93	242	22	the	the	DET
ajfa-93	242	23	cost	cost	NOUN
ajfa-93	242	24	of	of	ADP
ajfa-93	242	25	debt	debt	NOUN
ajfa-93	242	26	used	use	VERB
ajfa-93	242	27	in	in	ADP
ajfa-93	242	28	prior	prior	ADJ
ajfa-93	242	29	research	research	NOUN
ajfa-93	242	30	.	.	PUNCT
ajfa-93	243	1	these	these	PRON
ajfa-93	243	2	include	include	VERB
ajfa-93	243	3	institutional	institutional	ADJ
ajfa-93	243	4	ownership	ownership	NOUN
ajfa-93	243	5	,	,	PUNCT
ajfa-93	243	6	the	the	DET
ajfa-93	243	7	presence	presence	NOUN
ajfa-93	243	8	of	of	ADP
ajfa-93	243	9	blockholders	blockholder	NOUN
ajfa-93	243	10	,	,	PUNCT
ajfa-93	243	11	board	board	NOUN
ajfa-93	243	12	stock	stock	NOUN
ajfa-93	243	13	ownership	ownership	NOUN
ajfa-93	243	14	,	,	PUNCT
ajfa-93	243	15	and	and	CCONJ
ajfa-93	243	16	indicators	indicator	NOUN
ajfa-93	243	17	of	of	ADP
ajfa-93	243	18	takeover	takeover	NOUN
ajfa-93	243	19	defences	defence	NOUN
ajfa-93	243	20	,	,	PUNCT
ajfa-93	243	21	board	board	NOUN
ajfa-93	243	22	expertise	expertise	NOUN
ajfa-93	243	23	,	,	PUNCT
ajfa-93	243	24	disclosure	disclosure	NOUN
ajfa-93	243	25	and	and	CCONJ
ajfa-93	243	26	accruals	accrual	NOUN
ajfa-93	243	27	quality	quality	NOUN
ajfa-93	243	28	and	and	CCONJ
ajfa-93	243	29	earnings	earning	NOUN
ajfa-93	243	30	timeliness	timeliness	NOUN
ajfa-93	243	31	.	.	PUNCT
ajfa-93	244	1	alternatively	alternatively	ADV
ajfa-93	244	2	for	for	ADP
ajfa-93	244	3	2003	2003	NUM
ajfa-93	244	4	,	,	PUNCT
ajfa-93	244	5	a	a	DET
ajfa-93	244	6	year	year	NOUN
ajfa-93	244	7	prior	prior	ADV
ajfa-93	244	8	to	to	ADP
ajfa-93	244	9	the	the	DET
ajfa-93	244	10	introduction	introduction	NOUN
ajfa-93	244	11	of	of	ADP
ajfa-93	244	12	mandatory	mandatory	ADJ
ajfa-93	244	13	reporting	reporting	NOUN
ajfa-93	244	14	by	by	ADP
ajfa-93	244	15	exception	exception	NOUN
ajfa-93	244	16	required	require	VERB
ajfa-93	244	17	by	by	ADP
ajfa-93	244	18	the	the	DET
ajfa-93	244	19	asx	asx	NOUN
ajfa-93	244	20	corporate	corporate	ADJ
ajfa-93	244	21	governance	governance	NOUN
ajfa-93	244	22	principles	principle	NOUN
ajfa-93	244	23	,	,	PUNCT
ajfa-93	244	24	it	it	PRON
ajfa-93	244	25	may	may	AUX
ajfa-93	244	26	simply	simply	ADV
ajfa-93	244	27	be	be	AUX
ajfa-93	244	28	difficult	difficult	ADJ
ajfa-93	244	29	for	for	ADP
ajfa-93	244	30	lenders	lender	NOUN
ajfa-93	244	31	(	(	PUNCT
ajfa-93	244	32	and	and	CCONJ
ajfa-93	244	33	for	for	ADP
ajfa-93	244	34	standard	standard	NOUN
ajfa-93	244	35	and	and	CCONJ
ajfa-93	244	36	poor‟s	poor‟s	NUM
ajfa-93	244	37	)	)	PUNCT
ajfa-93	244	38	to	to	PART
ajfa-93	244	39	make	make	VERB
ajfa-93	244	40	more	more	ADJ
ajfa-93	244	41	than	than	ADP
ajfa-93	244	42	a	a	DET
ajfa-93	244	43	cursory	cursory	NOUN
ajfa-93	244	44	assessment	assessment	NOUN
ajfa-93	244	45	of	of	ADP
ajfa-93	244	46	corporate	corporate	ADJ
ajfa-93	244	47	governance	governance	NOUN
ajfa-93	244	48	practices	practice	NOUN
ajfa-93	244	49	or	or	CCONJ
ajfa-93	244	50	to	to	PART
ajfa-93	244	51	make	make	VERB
ajfa-93	244	52	comparisons	comparison	NOUN
ajfa-93	244	53	between	between	ADP
ajfa-93	244	54	firms	firm	NOUN
ajfa-93	244	55	due	due	ADJ
ajfa-93	244	56	to	to	ADP
ajfa-93	244	57	lack	lack	NOUN
ajfa-93	244	58	of	of	ADP
ajfa-93	244	59	disclosure	disclosure	NOUN
ajfa-93	244	60	and	and	CCONJ
ajfa-93	244	61	the	the	DET
ajfa-93	244	62	non	non	ADJ
ajfa-93	244	63	uniformity	uniformity	NOUN
ajfa-93	244	64	of	of	ADP
ajfa-93	244	65	where	where	SCONJ
ajfa-93	244	66	in	in	ADP
ajfa-93	244	67	the	the	DET
ajfa-93	244	68	annual	annual	ADJ
ajfa-93	244	69	report	report	NOUN
ajfa-93	244	70	any	any	DET
ajfa-93	244	71	disclosure	disclosure	NOUN
ajfa-93	244	72	is	be	AUX
ajfa-93	244	73	made	make	VERB
ajfa-93	244	74	.	.	PUNCT
ajfa-93	245	1	future	future	ADJ
ajfa-93	245	2	studies	study	NOUN
ajfa-93	245	3	may	may	AUX
ajfa-93	245	4	wish	wish	VERB
ajfa-93	245	5	to	to	PART
ajfa-93	245	6	examine	examine	VERB
ajfa-93	245	7	data	datum	NOUN
ajfa-93	245	8	from	from	ADP
ajfa-93	245	9	prior	prior	ADV
ajfa-93	245	10	to	to	ADP
ajfa-93	245	11	contemplation	contemplation	NOUN
ajfa-93	245	12	of	of	ADP
ajfa-93	245	13	the	the	DET
ajfa-93	245	14	asx	asx	NOUN
ajfa-93	245	15	principles	principle	NOUN
ajfa-93	245	16	,	,	PUNCT
ajfa-93	245	17	perhaps	perhaps	ADV
ajfa-93	245	18	in	in	ADP
ajfa-93	245	19	comparison	comparison	NOUN
ajfa-93	245	20	with	with	ADP
ajfa-93	245	21	a	a	DET
ajfa-93	245	22	post	post	NOUN
ajfa-93	245	23	asx	asx	NOUN
ajfa-93	245	24	cg	cg	NOUN
ajfa-93	245	25	principles	principle	NOUN
ajfa-93	245	26	sample	sample	NOUN
ajfa-93	245	27	,	,	PUNCT
ajfa-93	245	28	or	or	CCONJ
ajfa-93	245	29	to	to	PART
ajfa-93	245	30	conduct	conduct	VERB
ajfa-93	245	31	a	a	DET
ajfa-93	245	32	longitudinal	longitudinal	ADJ
ajfa-93	245	33	study	study	NOUN
ajfa-93	245	34	.	.	PUNCT
ajfa-93	246	1	recent	recent	ADJ
ajfa-93	246	2	research	research	NOUN
ajfa-93	246	3	in	in	ADP
ajfa-93	246	4	australia	australia	PROPN
ajfa-93	246	5	suggests	suggest	VERB
ajfa-93	246	6	that	that	SCONJ
ajfa-93	246	7	firms	firm	NOUN
ajfa-93	246	8	provide	provide	VERB
ajfa-93	246	9	quality	quality	NOUN
ajfa-93	246	10	disclosure	disclosure	NOUN
ajfa-93	246	11	only	only	ADV
ajfa-93	246	12	when	when	SCONJ
ajfa-93	246	13	these	these	DET
ajfa-93	246	14	requirements	requirement	NOUN
ajfa-93	246	15	are	be	AUX
ajfa-93	246	16	„	„	PUNCT
ajfa-93	246	17	black	black	ADJ
ajfa-93	246	18	letter‟	letter‟	NOUN
ajfa-93	246	19	or	or	CCONJ
ajfa-93	246	20	mandatory	mandatory	ADJ
ajfa-93	246	21	(	(	PUNCT
ajfa-93	246	22	clarkson	clarkson	PROPN
ajfa-93	246	23	et	et	PROPN
ajfa-93	246	24	al	al	PROPN
ajfa-93	246	25	.	.	PROPN
ajfa-93	246	26	2006	2006	NUM
ajfa-93	246	27	)	)	PUNCT
ajfa-93	246	28	.	.	PUNCT
ajfa-93	247	1	there	there	PRON
ajfa-93	247	2	have	have	AUX
ajfa-93	247	3	also	also	ADV
ajfa-93	247	4	been	be	AUX
ajfa-93	247	5	changes	change	NOUN
ajfa-93	247	6	to	to	ADP
ajfa-93	247	7	sustainability	sustainability	NOUN
ajfa-93	247	8	reporting	reporting	NOUN
ajfa-93	247	9	practices	practice	NOUN
ajfa-93	247	10	over	over	ADP
ajfa-93	247	11	the	the	DET
ajfa-93	247	12	past	past	ADJ
ajfa-93	247	13	few	few	ADJ
ajfa-93	247	14	years	year	NOUN
ajfa-93	247	15	.	.	PUNCT
ajfa-93	248	1	the	the	DET
ajfa-93	248	2	kpmg	kpmg	PROPN
ajfa-93	248	3	survey	survey	NOUN
ajfa-93	248	4	of	of	ADP
ajfa-93	248	5	g250	g250	PROPN
ajfa-93	248	6	companies	company	NOUN
ajfa-93	248	7	drawn	draw	VERB
ajfa-93	248	8	from	from	ADP
ajfa-93	248	9	the	the	DET
ajfa-93	248	10	fortune	fortune	NOUN
ajfa-93	248	11	global	global	ADJ
ajfa-93	248	12	500	500	NUM
ajfa-93	248	13	list	list	NOUN
ajfa-93	248	14	(	(	PUNCT
ajfa-93	248	15	2007	2007	NUM
ajfa-93	248	16	)	)	PUNCT
ajfa-93	248	17	,	,	PUNCT
ajfa-93	248	18	published	publish	VERB
ajfa-93	248	19	in	in	ADP
ajfa-93	248	20	2008	2008	NUM
ajfa-93	248	21	,	,	PUNCT
ajfa-93	248	22	states	state	VERB
ajfa-93	248	23	that	that	SCONJ
ajfa-93	248	24	“	"	PUNCT
ajfa-93	248	25	corporate	corporate	ADJ
ajfa-93	248	26	responsibility	responsibility	NOUN
ajfa-93	248	27	reporting	reporting	NOUN
ajfa-93	248	28	has	have	AUX
ajfa-93	248	29	gone	go	VERB
ajfa-93	248	30	mainstream	mainstream	ADJ
ajfa-93	248	31	”	"	PUNCT
ajfa-93	248	32	with	with	ADP
ajfa-93	248	33	a	a	DET
ajfa-93	248	34	rise	rise	NOUN
ajfa-93	248	35	in	in	ADP
ajfa-93	248	36	csr	csr	NOUN
ajfa-93	248	37	reporting	reporting	NOUN
ajfa-93	248	38	in	in	ADP
ajfa-93	248	39	large	large	ADJ
ajfa-93	248	40	companies	company	NOUN
ajfa-93	248	41	from	from	ADP
ajfa-93	248	42	79	79	NUM
ajfa-93	248	43	%	%	NOUN
ajfa-93	248	44	presenting	present	VERB
ajfa-93	248	45	a	a	DET
ajfa-93	248	46	stand	stand	VERB
ajfa-93	248	47	-	-	PUNCT
ajfa-93	248	48	alone	alone	ADJ
ajfa-93	248	49	report	report	NOUN
ajfa-93	248	50	compared	compare	VERB
ajfa-93	248	51	to	to	ADP
ajfa-93	248	52	52	52	NUM
ajfa-93	248	53	%	%	NOUN
ajfa-93	248	54	in	in	ADP
ajfa-93	248	55	a	a	DET
ajfa-93	248	56	similar	similar	ADJ
ajfa-93	248	57	survey	survey	NOUN
ajfa-93	248	58	from	from	ADP
ajfa-93	248	59	2005	2005	NUM
ajfa-93	248	60	,	,	PUNCT
ajfa-93	248	61	and	and	CCONJ
ajfa-93	248	62	a	a	DET
ajfa-93	248	63	further	further	ADJ
ajfa-93	248	64	4	4	NUM
ajfa-93	248	65	%	%	NOUN
ajfa-93	248	66	of	of	ADP
ajfa-93	248	67	companies	company	NOUN
ajfa-93	248	68	incorporating	incorporate	VERB
ajfa-93	248	69	csr	csr	NOUN
ajfa-93	248	70	data	datum	NOUN
ajfa-93	248	71	in	in	ADP
ajfa-93	248	72	their	their	PRON
ajfa-93	248	73	annual	annual	ADJ
ajfa-93	248	74	reports	report	NOUN
ajfa-93	248	75	.	.	PUNCT
ajfa-93	249	1	kpmg	kpmg	PROPN
ajfa-93	249	2	argue	argue	VERB
ajfa-93	249	3	this	this	PRON
ajfa-93	249	4	clearly	clearly	ADV
ajfa-93	249	5	indicates	indicate	VERB
ajfa-93	249	6	an	an	DET
ajfa-93	249	7	economic	economic	ADJ
ajfa-93	249	8	incentive	incentive	NOUN
ajfa-93	249	9	for	for	ADP
ajfa-93	249	10	such	such	ADJ
ajfa-93	249	11	corporate	corporate	ADJ
ajfa-93	249	12	reporting	reporting	NOUN
ajfa-93	249	13	.	.	PUNCT
ajfa-93	250	1	the	the	DET
ajfa-93	250	2	survey	survey	NOUN
ajfa-93	250	3	report	report	NOUN
ajfa-93	250	4	suggests	suggest	VERB
ajfa-93	250	5	that	that	SCONJ
ajfa-93	250	6	volume	volume	NOUN
ajfa-93	250	7	does	do	VERB
ajfa-93	250	8	asian	asian	ADJ
ajfa-93	250	9	journal	journal	PROPN
ajfa-93	250	10	of	of	ADP
ajfa-93	250	11	finance	finance	PROPN
ajfa-93	250	12	&	&	CCONJ
ajfa-93	250	13	accounting	accounting	PROPN
ajfa-93	250	14	issn	issn	PROPN
ajfa-93	250	15	1946	1946	NUM
ajfa-93	250	16	-	-	PUNCT
ajfa-93	250	17	052x	052x	NOUN
ajfa-93	250	18	200x	200x	NUM
ajfa-93	250	19	,	,	PUNCT
ajfa-93	250	20	vol	vol	NOUN
ajfa-93	250	21	.	.	PROPN
ajfa-93	251	1	1	1	NUM
ajfa-93	251	2	,	,	PUNCT
ajfa-93	251	3	no	no	INTJ
ajfa-93	251	4	.	.	NOUN
ajfa-93	251	5	1	1	NUM
ajfa-93	251	6	:	:	PUNCT
ajfa-93	251	7	e1	e1	VERB
ajfa-93	251	8	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-93	251	9	50	50	NUM
ajfa-93	251	10	not	not	PART
ajfa-93	251	11	necessarily	necessarily	ADV
ajfa-93	251	12	equate	equate	ADJ
ajfa-93	251	13	to	to	ADP
ajfa-93	251	14	quality	quality	NOUN
ajfa-93	251	15	.	.	PUNCT
ajfa-93	252	1	many	many	ADJ
ajfa-93	252	2	csr	csr	NOUN
ajfa-93	252	3	reports	report	NOUN
ajfa-93	252	4	lack	lack	VERB
ajfa-93	252	5	integration	integration	NOUN
ajfa-93	252	6	with	with	ADP
ajfa-93	252	7	the	the	DET
ajfa-93	252	8	financial	financial	ADJ
ajfa-93	252	9	data	datum	NOUN
ajfa-93	252	10	.	.	PUNCT
ajfa-93	253	1	most	most	ADJ
ajfa-93	253	2	reporting	reporting	NOUN
ajfa-93	253	3	companies	company	NOUN
ajfa-93	253	4	appear	appear	VERB
ajfa-93	253	5	to	to	PART
ajfa-93	253	6	have	have	VERB
ajfa-93	253	7	corporate	corporate	ADJ
ajfa-93	253	8	governance	governance	NOUN
ajfa-93	253	9	and	and	CCONJ
ajfa-93	253	10	sustainability	sustainability	NOUN
ajfa-93	253	11	strategies	strategy	NOUN
ajfa-93	253	12	,	,	PUNCT
ajfa-93	253	13	but	but	CCONJ
ajfa-93	253	14	few	few	ADJ
ajfa-93	253	15	give	give	VERB
ajfa-93	253	16	details	detail	NOUN
ajfa-93	253	17	regarding	regard	VERB
ajfa-93	253	18	implementation	implementation	NOUN
ajfa-93	253	19	and	and	CCONJ
ajfa-93	253	20	monitoring	monitoring	NOUN
ajfa-93	253	21	of	of	ADP
ajfa-93	253	22	these	these	PRON
ajfa-93	253	23	.	.	PUNCT
ajfa-93	254	1	other	other	ADJ
ajfa-93	254	2	criticisms	criticism	NOUN
ajfa-93	254	3	include	include	VERB
ajfa-93	254	4	a	a	DET
ajfa-93	254	5	lack	lack	NOUN
ajfa-93	254	6	of	of	ADP
ajfa-93	254	7	stakeholder	stakeholder	NOUN
ajfa-93	254	8	reference	reference	NOUN
ajfa-93	254	9	and	and	CCONJ
ajfa-93	254	10	feedback	feedback	NOUN
ajfa-93	254	11	,	,	PUNCT
ajfa-93	254	12	a	a	DET
ajfa-93	254	13	comparative	comparative	ADJ
ajfa-93	254	14	lack	lack	NOUN
ajfa-93	254	15	of	of	ADP
ajfa-93	254	16	environmental	environmental	ADJ
ajfa-93	254	17	and	and	CCONJ
ajfa-93	254	18	social	social	ADJ
ajfa-93	254	19	detailed	detailed	ADJ
ajfa-93	254	20	information	information	NOUN
ajfa-93	254	21	,	,	PUNCT
ajfa-93	254	22	and	and	CCONJ
ajfa-93	254	23	despite	despite	SCONJ
ajfa-93	254	24	a	a	DET
ajfa-93	254	25	growing	grow	VERB
ajfa-93	254	26	trend	trend	NOUN
ajfa-93	254	27	in	in	ADP
ajfa-93	254	28	formal	formal	ADJ
ajfa-93	254	29	assurance	assurance	NOUN
ajfa-93	254	30	,	,	PUNCT
ajfa-93	254	31	this	this	PRON
ajfa-93	254	32	has	have	AUX
ajfa-93	254	33	still	still	ADV
ajfa-93	254	34	not	not	PART
ajfa-93	254	35	been	be	AUX
ajfa-93	254	36	widely	widely	ADV
ajfa-93	254	37	adopted	adopt	VERB
ajfa-93	254	38	.	.	PUNCT
ajfa-93	255	1	aspects	aspect	NOUN
ajfa-93	255	2	to	to	PART
ajfa-93	255	3	watch	watch	VERB
ajfa-93	255	4	for	for	ADP
ajfa-93	255	5	the	the	DET
ajfa-93	255	6	future	future	NOUN
ajfa-93	255	7	do	do	AUX
ajfa-93	255	8	include	include	VERB
ajfa-93	255	9	supply	supply	NOUN
ajfa-93	255	10	chain	chain	NOUN
ajfa-93	255	11	relationships	relationship	NOUN
ajfa-93	255	12	as	as	SCONJ
ajfa-93	255	13	sustainability	sustainability	NOUN
ajfa-93	255	14	issues	issue	NOUN
ajfa-93	255	15	grow	grow	VERB
ajfa-93	255	16	beyond	beyond	ADP
ajfa-93	255	17	an	an	DET
ajfa-93	255	18	individual	individual	ADJ
ajfa-93	255	19	corporation	corporation	NOUN
ajfa-93	255	20	,	,	PUNCT
ajfa-93	255	21	and	and	CCONJ
ajfa-93	255	22	the	the	DET
ajfa-93	255	23	role	role	NOUN
ajfa-93	255	24	of	of	ADP
ajfa-93	255	25	corporate	corporate	ADJ
ajfa-93	255	26	governance	governance	NOUN
ajfa-93	255	27	and	and	CCONJ
ajfa-93	255	28	csr	csr	NOUN
ajfa-93	255	29	reporting	reporting	NOUN
ajfa-93	255	30	in	in	ADP
ajfa-93	255	31	corporate	corporate	ADJ
ajfa-93	255	32	risk	risk	NOUN
ajfa-93	255	33	management	management	NOUN
ajfa-93	255	34	strategy	strategy	NOUN
ajfa-93	255	35	.	.	PUNCT
ajfa-93	256	1	similarly	similarly	ADV
ajfa-93	256	2	the	the	DET
ajfa-93	256	3	latest	late	ADJ
ajfa-93	256	4	biannual	biannual	ADJ
ajfa-93	256	5	sustainability	sustainability	NOUN
ajfa-93	256	6	reporting	reporting	NOUN
ajfa-93	256	7	,	,	PUNCT
ajfa-93	256	8	transparency	transparency	NOUN
ajfa-93	256	9	and	and	CCONJ
ajfa-93	256	10	disclosure	disclosure	NOUN
ajfa-93	256	11	benchmarking	benchmarke	VERB
ajfa-93	256	12	survey	survey	NOUN
ajfa-93	256	13	from	from	ADP
ajfa-93	256	14	sustainability	sustainability	PROPN
ajfa-93	256	15	inc	inc	PROPN
ajfa-93	256	16	,	,	PUNCT
ajfa-93	256	17	“	"	PUNCT
ajfa-93	256	18	tomorrow‟s	tomorrow‟s	NUM
ajfa-93	256	19	value	value	NOUN
ajfa-93	256	20	”	"	PUNCT
ajfa-93	256	21	,	,	PUNCT
ajfa-93	256	22	published	publish	VERB
ajfa-93	256	23	in	in	ADP
ajfa-93	256	24	conjunction	conjunction	NOUN
ajfa-93	256	25	with	with	ADP
ajfa-93	256	26	the	the	DET
ajfa-93	256	27	united	united	PROPN
ajfa-93	256	28	nations	nations	PROPN
ajfa-93	256	29	environment	environment	PROPN
ajfa-93	256	30	programme	programme	PROPN
ajfa-93	256	31	(	(	PUNCT
ajfa-93	256	32	unep	unep	NOUN
ajfa-93	256	33	)	)	PUNCT
ajfa-93	256	34	and	and	CCONJ
ajfa-93	256	35	standard	standard	PROPN
ajfa-93	256	36	&	&	CCONJ
ajfa-93	256	37	poor	poor	PROPN
ajfa-93	256	38	's	's	PART
ajfa-93	256	39	,	,	PUNCT
ajfa-93	256	40	exposes	expose	VERB
ajfa-93	256	41	a	a	DET
ajfa-93	256	42	shift	shift	NOUN
ajfa-93	256	43	in	in	ADP
ajfa-93	256	44	corporate	corporate	ADJ
ajfa-93	256	45	attitude	attitude	NOUN
ajfa-93	256	46	to	to	ADP
ajfa-93	256	47	reporting	reporting	NOUN
ajfa-93	256	48	.	.	PUNCT
ajfa-93	257	1	firms	firm	NOUN
ajfa-93	257	2	are	be	AUX
ajfa-93	257	3	beginning	begin	VERB
ajfa-93	257	4	to	to	PART
ajfa-93	257	5	seek	seek	VERB
ajfa-93	257	6	strategic	strategic	ADJ
ajfa-93	257	7	advantage	advantage	NOUN
ajfa-93	257	8	in	in	ADP
ajfa-93	257	9	the	the	DET
ajfa-93	257	10	area	area	NOUN
ajfa-93	257	11	of	of	ADP
ajfa-93	257	12	sustainability	sustainability	NOUN
ajfa-93	257	13	and	and	CCONJ
ajfa-93	257	14	see	see	VERB
ajfa-93	257	15	opportunities	opportunity	NOUN
ajfa-93	257	16	for	for	ADP
ajfa-93	257	17	value	value	NOUN
ajfa-93	257	18	creation	creation	NOUN
ajfa-93	257	19	rather	rather	ADV
ajfa-93	257	20	than	than	ADP
ajfa-93	257	21	simple	simple	ADJ
ajfa-93	257	22	risk	risk	NOUN
ajfa-93	257	23	management	management	NOUN
ajfa-93	257	24	.	.	PUNCT
ajfa-93	258	1	financial	financial	ADJ
ajfa-93	258	2	markets	market	NOUN
ajfa-93	258	3	also	also	ADV
ajfa-93	258	4	value	value	VERB
ajfa-93	258	5	the	the	DET
ajfa-93	258	6	additional	additional	ADJ
ajfa-93	258	7	information	information	NOUN
ajfa-93	258	8	for	for	ADP
ajfa-93	258	9	investors	investor	NOUN
ajfa-93	258	10	.	.	PUNCT
ajfa-93	259	1	many	many	ADJ
ajfa-93	259	2	firms	firm	NOUN
ajfa-93	259	3	have	have	AUX
ajfa-93	259	4	included	include	VERB
ajfa-93	259	5	sustainability	sustainability	NOUN
ajfa-93	259	6	issues	issue	NOUN
ajfa-93	259	7	in	in	ADP
ajfa-93	259	8	their	their	PRON
ajfa-93	259	9	core	core	NOUN
ajfa-93	259	10	business	business	NOUN
ajfa-93	259	11	strategy	strategy	NOUN
ajfa-93	259	12	but	but	CCONJ
ajfa-93	259	13	few	few	ADJ
ajfa-93	259	14	appear	appear	VERB
ajfa-93	259	15	to	to	PART
ajfa-93	259	16	be	be	AUX
ajfa-93	259	17	using	use	VERB
ajfa-93	259	18	their	their	PRON
ajfa-93	259	19	influence	influence	NOUN
ajfa-93	259	20	to	to	PART
ajfa-93	259	21	lobby	lobby	VERB
ajfa-93	259	22	for	for	ADP
ajfa-93	259	23	change	change	NOUN
ajfa-93	259	24	outside	outside	ADP
ajfa-93	259	25	their	their	PRON
ajfa-93	259	26	organisation	organisation	NOUN
ajfa-93	259	27	(	(	PUNCT
ajfa-93	259	28	sustainability	sustainability	NOUN
ajfa-93	259	29	2006	2006	NUM
ajfa-93	259	30	)	)	PUNCT
ajfa-93	259	31	.	.	PUNCT
ajfa-93	260	1	this	this	PRON
ajfa-93	260	2	may	may	AUX
ajfa-93	260	3	of	of	ADP
ajfa-93	260	4	course	course	NOUN
ajfa-93	260	5	reflect	reflect	VERB
ajfa-93	260	6	a	a	DET
ajfa-93	260	7	lack	lack	NOUN
ajfa-93	260	8	of	of	ADP
ajfa-93	260	9	real	real	ADJ
ajfa-93	260	10	commitment	commitment	NOUN
ajfa-93	260	11	and	and	CCONJ
ajfa-93	260	12	a	a	DET
ajfa-93	260	13	wish	wish	NOUN
ajfa-93	260	14	concentrate	concentrate	NOUN
ajfa-93	260	15	on	on	ADP
ajfa-93	260	16	internal	internal	ADJ
ajfa-93	260	17	“	"	PUNCT
ajfa-93	260	18	good	good	ADJ
ajfa-93	260	19	news	news	NOUN
ajfa-93	260	20	”	"	PUNCT
ajfa-93	260	21	.	.	PUNCT
ajfa-93	261	1	it	it	PRON
ajfa-93	261	2	seems	seem	VERB
ajfa-93	261	3	likely	likely	ADJ
ajfa-93	261	4	that	that	SCONJ
ajfa-93	261	5	a	a	DET
ajfa-93	261	6	similar	similar	ADJ
ajfa-93	261	7	project	project	NOUN
ajfa-93	261	8	to	to	ADP
ajfa-93	261	9	the	the	DET
ajfa-93	261	10	one	one	NOUN
ajfa-93	261	11	reported	report	VERB
ajfa-93	261	12	in	in	ADP
ajfa-93	261	13	this	this	DET
ajfa-93	261	14	paper	paper	NOUN
ajfa-93	261	15	,	,	PUNCT
ajfa-93	261	16	drawn	draw	VERB
ajfa-93	261	17	on	on	ADP
ajfa-93	261	18	more	more	ADJ
ajfa-93	261	19	recent	recent	ADJ
ajfa-93	261	20	data	datum	NOUN
ajfa-93	261	21	,	,	PUNCT
ajfa-93	261	22	may	may	AUX
ajfa-93	261	23	find	find	VERB
ajfa-93	261	24	more	more	ADV
ajfa-93	261	25	significant	significant	ADJ
ajfa-93	261	26	results	result	NOUN
ajfa-93	261	27	.	.	PUNCT
ajfa-93	262	1	it	it	PRON
ajfa-93	262	2	is	be	AUX
ajfa-93	262	3	also	also	ADV
ajfa-93	262	4	possible	possible	ADJ
ajfa-93	262	5	that	that	SCONJ
ajfa-93	262	6	with	with	ADP
ajfa-93	262	7	a	a	DET
ajfa-93	262	8	relatively	relatively	ADV
ajfa-93	262	9	small	small	ADJ
ajfa-93	262	10	sample	sample	NOUN
ajfa-93	262	11	,	,	PUNCT
ajfa-93	262	12	even	even	ADV
ajfa-93	262	13	though	though	SCONJ
ajfa-93	262	14	the	the	DET
ajfa-93	262	15	residual	residual	ADJ
ajfa-93	262	16	degrees	degree	NOUN
ajfa-93	262	17	of	of	ADP
ajfa-93	262	18	freedom	freedom	NOUN
ajfa-93	262	19	were	be	AUX
ajfa-93	262	20	never	never	ADV
ajfa-93	262	21	less	less	ADJ
ajfa-93	262	22	than	than	ADP
ajfa-93	262	23	30	30	NUM
ajfa-93	262	24	in	in	ADP
ajfa-93	262	25	any	any	PRON
ajfa-93	262	26	of	of	ADP
ajfa-93	262	27	the	the	DET
ajfa-93	262	28	models	model	NOUN
ajfa-93	262	29	,	,	PUNCT
ajfa-93	262	30	the	the	DET
ajfa-93	262	31	peculiarities	peculiarity	NOUN
ajfa-93	262	32	of	of	ADP
ajfa-93	262	33	the	the	DET
ajfa-93	262	34	sample	sample	NOUN
ajfa-93	262	35	may	may	AUX
ajfa-93	262	36	drive	drive	VERB
ajfa-93	262	37	the	the	DET
ajfa-93	262	38	results	result	NOUN
ajfa-93	262	39	.	.	PUNCT
ajfa-93	263	1	the	the	DET
ajfa-93	263	2	sample	sample	NOUN
ajfa-93	263	3	size	size	NOUN
ajfa-93	263	4	in	in	ADP
ajfa-93	263	5	this	this	DET
ajfa-93	263	6	study	study	NOUN
ajfa-93	263	7	was	be	AUX
ajfa-93	263	8	limited	limit	VERB
ajfa-93	263	9	by	by	ADP
ajfa-93	263	10	the	the	DET
ajfa-93	263	11	availability	availability	NOUN
ajfa-93	263	12	of	of	ADP
ajfa-93	263	13	the	the	DET
ajfa-93	263	14	data	datum	NOUN
ajfa-93	263	15	–	–	PUNCT
ajfa-93	263	16	a	a	DET
ajfa-93	263	17	lack	lack	NOUN
ajfa-93	263	18	of	of	ADP
ajfa-93	263	19	s	s	PROPN
ajfa-93	263	20	&	&	CCONJ
ajfa-93	263	21	p	p	NOUN
ajfa-93	263	22	credit	credit	NOUN
ajfa-93	263	23	ratings	rating	NOUN
ajfa-93	263	24	for	for	ADP
ajfa-93	263	25	many	many	ADJ
ajfa-93	263	26	australian	australian	ADJ
ajfa-93	263	27	firms	firm	NOUN
ajfa-93	263	28	.	.	PUNCT
ajfa-93	264	1	in	in	ADP
ajfa-93	264	2	order	order	NOUN
ajfa-93	264	3	to	to	PART
ajfa-93	264	4	increase	increase	VERB
ajfa-93	264	5	the	the	DET
ajfa-93	264	6	sample	sample	NOUN
ajfa-93	264	7	size	size	NOUN
ajfa-93	264	8	,	,	PUNCT
ajfa-93	264	9	future	future	ADJ
ajfa-93	264	10	studies	study	NOUN
ajfa-93	264	11	might	might	AUX
ajfa-93	264	12	seek	seek	VERB
ajfa-93	264	13	alternatives	alternative	NOUN
ajfa-93	264	14	to	to	ADP
ajfa-93	264	15	credit	credit	NOUN
ajfa-93	264	16	ratings	rating	NOUN
ajfa-93	264	17	,	,	PUNCT
ajfa-93	264	18	such	such	ADJ
ajfa-93	264	19	as	as	ADP
ajfa-93	264	20	corporate	corporate	ADJ
ajfa-93	264	21	-	-	PUNCT
ajfa-93	264	22	debt	debt	NOUN
ajfa-93	264	23	yield	yield	NOUN
ajfa-93	264	24	spreads	spread	NOUN
ajfa-93	264	25	(	(	PUNCT
ajfa-93	264	26	anderson	anderson	PROPN
ajfa-93	264	27	et	et	PROPN
ajfa-93	264	28	al	al	PROPN
ajfa-93	264	29	.	.	PROPN
ajfa-93	265	1	(	(	PUNCT
ajfa-93	265	2	2004	2004	NUM
ajfa-93	265	3	)	)	PUNCT
ajfa-93	265	4	)	)	PUNCT
ajfa-93	266	1	,	,	PUNCT
ajfa-93	266	2	as	as	ADP
ajfa-93	266	3	the	the	DET
ajfa-93	266	4	measure	measure	NOUN
ajfa-93	266	5	for	for	ADP
ajfa-93	266	6	the	the	DET
ajfa-93	266	7	cost	cost	NOUN
ajfa-93	266	8	of	of	ADP
ajfa-93	266	9	debt	debt	NOUN
ajfa-93	266	10	.	.	PUNCT
ajfa-93	267	1	acknowledgement	acknowledgement	NOUN
ajfa-93	267	2	we	we	PRON
ajfa-93	267	3	are	be	AUX
ajfa-93	267	4	grateful	grateful	ADJ
ajfa-93	267	5	for	for	ADP
ajfa-93	267	6	advice	advice	NOUN
ajfa-93	267	7	and	and	CCONJ
ajfa-93	267	8	encouragement	encouragement	NOUN
ajfa-93	267	9	from	from	ADP
ajfa-93	267	10	christina‟s	christina‟s	NOUN
ajfa-93	267	11	master	master	NOUN
ajfa-93	267	12	of	of	ADP
ajfa-93	267	13	financial	financial	ADJ
ajfa-93	267	14	management	management	NOUN
ajfa-93	267	15	supervisor	supervisor	NOUN
ajfa-93	267	16	,	,	PUNCT
ajfa-93	267	17	allen	allen	PROPN
ajfa-93	267	18	craswell	craswell	PROPN
ajfa-93	267	19	,	,	PUNCT
ajfa-93	267	20	her	her	PRON
ajfa-93	267	21	examiner	examiner	NOUN
ajfa-93	267	22	,	,	PUNCT
ajfa-93	267	23	and	and	CCONJ
ajfa-93	267	24	julie	julie	PROPN
ajfa-93	267	25	walker	walker	PROPN
ajfa-93	267	26	,	,	PUNCT
ajfa-93	267	27	pam	pam	PROPN
ajfa-93	267	28	kent	kent	PROPN
ajfa-93	267	29	and	and	CCONJ
ajfa-93	267	30	ping	ping	PROPN
ajfa-93	267	31	-	-	PUNCT
ajfa-93	267	32	sheng	sheng	PROPN
ajfa-93	267	33	koh	koh	PROPN
ajfa-93	267	34	.	.	PUNCT
ajfa-93	268	1	research	research	NOUN
ajfa-93	268	2	assistance	assistance	NOUN
ajfa-93	268	3	was	be	AUX
ajfa-93	268	4	provided	provide	VERB
ajfa-93	268	5	by	by	ADP
ajfa-93	268	6	norziana	norziana	PROPN
ajfa-93	268	7	lokman	lokman	PROPN
ajfa-93	268	8	.	.	PUNCT
ajfa-93	269	1	references	reference	NOUN
ajfa-93	269	2	ahmed	ahmed	PROPN
ajfa-93	269	3	,	,	PUNCT
ajfa-93	269	4	a.s	a.s	PROPN
ajfa-93	269	5	.	.	PROPN
ajfa-93	269	6	,	,	PUNCT
ajfa-93	269	7	billings	billing	NOUN
ajfa-93	269	8	,	,	PUNCT
ajfa-93	269	9	b.k	b.k	PROPN
ajfa-93	269	10	.	.	PROPN
ajfa-93	269	11	,	,	PUNCT
ajfa-93	269	12	morton	morton	PROPN
ajfa-93	269	13	,	,	PUNCT
ajfa-93	269	14	r.m	r.m	PROPN
ajfa-93	269	15	.	.	PROPN
ajfa-93	269	16	&	&	CCONJ
ajfa-93	269	17	stanford	stanford	PROPN
ajfa-93	269	18	-	-	PUNCT
ajfa-93	269	19	harris	harris	PROPN
ajfa-93	269	20	,	,	PUNCT
ajfa-93	269	21	m	m	PROPN
ajfa-93	269	22	,	,	PUNCT
ajfa-93	269	23	(	(	PUNCT
ajfa-93	269	24	2002	2002	NUM
ajfa-93	269	25	)	)	PUNCT
ajfa-93	269	26	,	,	PUNCT
ajfa-93	269	27	“	"	PUNCT
ajfa-93	269	28	the	the	DET
ajfa-93	269	29	role	role	NOUN
ajfa-93	269	30	of	of	ADP
ajfa-93	269	31	accounting	account	VERB
ajfa-93	269	32	conservatism	conservatism	NOUN
ajfa-93	269	33	in	in	ADP
ajfa-93	269	34	mitigating	mitigate	VERB
ajfa-93	269	35	bondholder	bondholder	NOUN
ajfa-93	269	36	-	-	PUNCT
ajfa-93	269	37	shareholder	shareholder	NOUN
ajfa-93	269	38	conflicts	conflict	NOUN
ajfa-93	269	39	over	over	ADP
ajfa-93	269	40	dividend	dividend	NOUN
ajfa-93	269	41	policy	policy	NOUN
ajfa-93	269	42	and	and	CCONJ
ajfa-93	269	43	in	in	ADP
ajfa-93	269	44	reducing	reduce	VERB
ajfa-93	269	45	debt	debt	NOUN
ajfa-93	269	46	costs	cost	NOUN
ajfa-93	269	47	”	"	PUNCT
ajfa-93	269	48	,	,	PUNCT
ajfa-93	269	49	the	the	DET
ajfa-93	269	50	accounting	accounting	NOUN
ajfa-93	269	51	review	review	NOUN
ajfa-93	269	52	,	,	PUNCT
ajfa-93	269	53	vol	vol	NOUN
ajfa-93	269	54	.	.	PROPN
ajfa-93	270	1	77	77	NUM
ajfa-93	270	2	,	,	PUNCT
ajfa-93	270	3	no	no	INTJ
ajfa-93	270	4	.	.	NOUN
ajfa-93	270	5	4	4	NUM
ajfa-93	270	6	,	,	PUNCT
ajfa-93	270	7	october	october	PROPN
ajfa-93	270	8	2002	2002	NUM
ajfa-93	270	9	pp	pp	ADP
ajfa-93	270	10	.	.	PUNCT
ajfa-93	271	1	867	867	NUM
ajfa-93	271	2	-	-	SYM
ajfa-93	271	3	80	80	NUM
ajfa-93	271	4	anderson	anderson	PROPN
ajfa-93	271	5	,	,	PUNCT
ajfa-93	271	6	r.c	r.c	PROPN
ajfa-93	271	7	.	.	PROPN
ajfa-93	271	8	,	,	PUNCT
ajfa-93	271	9	sattar	sattar	PROPN
ajfa-93	271	10	m.a	m.a	PROPN
ajfa-93	271	11	.	.	PROPN
ajfa-93	271	12	&	&	CCONJ
ajfa-93	271	13	reeb	reeb	PROPN
ajfa-93	271	14	,	,	PUNCT
ajfa-93	271	15	d.m	d.m	PROPN
ajfa-93	271	16	.	.	PROPN
ajfa-93	271	17	,	,	PUNCT
ajfa-93	271	18	(	(	PUNCT
ajfa-93	271	19	2004	2004	NUM
ajfa-93	271	20	)	)	PUNCT
ajfa-93	271	21	,	,	PUNCT
ajfa-93	271	22	“	"	PUNCT
ajfa-93	271	23	board	board	NOUN
ajfa-93	271	24	characteristics	characteristic	NOUN
ajfa-93	271	25	,	,	PUNCT
ajfa-93	271	26	accounting	accounting	NOUN
ajfa-93	271	27	report	report	NOUN
ajfa-93	271	28	integrity	integrity	NOUN
ajfa-93	271	29	,	,	PUNCT
ajfa-93	271	30	and	and	CCONJ
ajfa-93	271	31	the	the	DET
ajfa-93	271	32	cost	cost	NOUN
ajfa-93	271	33	of	of	ADP
ajfa-93	271	34	debt	debt	NOUN
ajfa-93	271	35	”	"	PUNCT
ajfa-93	271	36	,	,	PUNCT
ajfa-93	271	37	journal	journal	NOUN
ajfa-93	271	38	of	of	ADP
ajfa-93	271	39	accounting	accounting	NOUN
ajfa-93	271	40	and	and	CCONJ
ajfa-93	271	41	economics	economic	NOUN
ajfa-93	271	42	,	,	PUNCT
ajfa-93	271	43	vol	vol	NOUN
ajfa-93	271	44	.	.	PROPN
ajfa-93	271	45	37	37	NUM
ajfa-93	271	46	,	,	PUNCT
ajfa-93	271	47	issue	issue	NOUN
ajfa-93	271	48	3	3	NUM
ajfa-93	271	49	,	,	PUNCT
ajfa-93	271	50	pp	pp	ADJ
ajfa-93	271	51	.	.	PUNCT
ajfa-93	272	1	315	315	NUM
ajfa-93	272	2	-	-	SYM
ajfa-93	272	3	342	342	NUM
ajfa-93	272	4	ashbaugh	ashbaugh	NOUN
ajfa-93	272	5	-	-	PUNCT
ajfa-93	272	6	skaife	skaife	NOUN
ajfa-93	272	7	,	,	PUNCT
ajfa-93	272	8	h.	h.	PROPN
ajfa-93	272	9	,	,	PUNCT
ajfa-93	272	10	collins	collins	PROPN
ajfa-93	272	11	,	,	PUNCT
ajfa-93	272	12	d.w	d.w	PROPN
ajfa-93	272	13	.	.	PROPN
ajfa-93	272	14	&	&	CCONJ
ajfa-93	272	15	lafond	lafond	PROPN
ajfa-93	272	16	,	,	PUNCT
ajfa-93	272	17	r.	r.	PROPN
ajfa-93	272	18	,	,	PUNCT
ajfa-93	272	19	(	(	PUNCT
ajfa-93	272	20	2006	2006	NUM
ajfa-93	272	21	)	)	PUNCT
ajfa-93	272	22	,	,	PUNCT
ajfa-93	272	23	“	"	PUNCT
ajfa-93	272	24	the	the	DET
ajfa-93	272	25	effects	effect	NOUN
ajfa-93	272	26	of	of	ADP
ajfa-93	272	27	corporate	corporate	ADJ
ajfa-93	272	28	governance	governance	NOUN
ajfa-93	272	29	on	on	ADP
ajfa-93	272	30	firms‟	firms‟	NOUN
ajfa-93	272	31	credit	credit	NOUN
ajfa-93	272	32	ratings	rating	NOUN
ajfa-93	272	33	”	"	PUNCT
ajfa-93	272	34	,	,	PUNCT
ajfa-93	272	35	journal	journal	NOUN
ajfa-93	272	36	of	of	ADP
ajfa-93	272	37	accounting	accounting	NOUN
ajfa-93	272	38	and	and	CCONJ
ajfa-93	272	39	economics	economic	NOUN
ajfa-93	272	40	,	,	PUNCT
ajfa-93	272	41	vol	vol	NOUN
ajfa-93	272	42	.	.	PROPN
ajfa-93	272	43	42	42	NUM
ajfa-93	272	44	,	,	PUNCT
ajfa-93	272	45	issue	issue	NOUN
ajfa-93	272	46	1/2	1/2	NUM
ajfa-93	272	47	,	,	PUNCT
ajfa-93	272	48	pp	pp	ADJ
ajfa-93	272	49	.	.	PUNCT
ajfa-93	273	1	203	203	NUM
ajfa-93	273	2	-	-	SYM
ajfa-93	273	3	243	243	NUM
ajfa-93	273	4	balatbat	balatbat	NOUN
ajfa-93	273	5	,	,	PUNCT
ajfa-93	273	6	m.c.a	m.c.a	NOUN
ajfa-93	273	7	.	.	PROPN
ajfa-93	273	8	,	,	PUNCT
ajfa-93	273	9	taylor	taylor	PROPN
ajfa-93	273	10	,	,	PUNCT
ajfa-93	273	11	s.l	s.l	PROPN
ajfa-93	273	12	.	.	PROPN
ajfa-93	273	13	and	and	CCONJ
ajfa-93	273	14	walter	walter	PROPN
ajfa-93	273	15	,	,	PUNCT
ajfa-93	273	16	t.s	t.s	PROPN
ajfa-93	273	17	.	.	PROPN
ajfa-93	273	18	,	,	PUNCT
ajfa-93	273	19	(	(	PUNCT
ajfa-93	273	20	2004	2004	NUM
ajfa-93	273	21	)	)	PUNCT
ajfa-93	273	22	,	,	PUNCT
ajfa-93	273	23	“	"	PUNCT
ajfa-93	273	24	corporate	corporate	ADJ
ajfa-93	273	25	governance	governance	NOUN
ajfa-93	273	26	,	,	PUNCT
ajfa-93	273	27	insider	insider	NOUN
ajfa-93	273	28	ownership	ownership	NOUN
ajfa-93	273	29	and	and	CCONJ
ajfa-93	273	30	asian	asian	ADJ
ajfa-93	273	31	journal	journal	NOUN
ajfa-93	273	32	of	of	ADP
ajfa-93	273	33	finance	finance	PROPN
ajfa-93	273	34	&	&	CCONJ
ajfa-93	273	35	accounting	accounting	PROPN
ajfa-93	273	36	issn	issn	PROPN
ajfa-93	273	37	1946	1946	NUM
ajfa-93	273	38	-	-	PUNCT
ajfa-93	273	39	052x	052x	NOUN
ajfa-93	273	40	200x	200x	NUM
ajfa-93	273	41	,	,	PUNCT
ajfa-93	273	42	vol	vol	NOUN
ajfa-93	273	43	.	.	PROPN
ajfa-93	273	44	1	1	NUM
ajfa-93	273	45	,	,	PUNCT
ajfa-93	273	46	no	no	INTJ
ajfa-93	273	47	.	.	NOUN
ajfa-93	273	48	1	1	NUM
ajfa-93	273	49	:	:	PUNCT
ajfa-93	273	50	e1	e1	VERB
ajfa-93	273	51	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-93	273	52	51	51	NUM
ajfa-93	273	53	operating	operating	NOUN
ajfa-93	273	54	performance	performance	NOUN
ajfa-93	273	55	of	of	ADP
ajfa-93	273	56	australian	australian	ADJ
ajfa-93	273	57	initial	initial	ADJ
ajfa-93	273	58	public	public	ADJ
ajfa-93	273	59	offerings	offering	NOUN
ajfa-93	273	60	”	"	PUNCT
ajfa-93	273	61	,	,	PUNCT
ajfa-93	273	62	accounting	accounting	NOUN
ajfa-93	273	63	and	and	CCONJ
ajfa-93	273	64	finance	finance	NOUN
ajfa-93	273	65	,	,	PUNCT
ajfa-93	273	66	vol	vol	NOUN
ajfa-93	273	67	.	.	PROPN
ajfa-93	273	68	44	44	NUM
ajfa-93	273	69	,	,	PUNCT
ajfa-93	273	70	issue	issue	NOUN
ajfa-93	273	71	3	3	NUM
ajfa-93	273	72	,	,	PUNCT
ajfa-93	273	73	november	november	PROPN
ajfa-93	273	74	2004	2004	NUM
ajfa-93	273	75	,	,	PUNCT
ajfa-93	273	76	pp	pp	ADV
ajfa-93	273	77	.	.	PUNCT
ajfa-93	274	1	299	299	NUM
ajfa-93	274	2	-	-	SYM
ajfa-93	274	3	328	328	NUM
ajfa-93	274	4	bebbington	bebbington	NOUN
ajfa-93	274	5	,	,	PUNCT
ajfa-93	274	6	k.j	k.j	PROPN
ajfa-93	274	7	.	.	PROPN
ajfa-93	274	8	,	,	PUNCT
ajfa-93	274	9	larrinaga	larrinaga	NOUN
ajfa-93	274	10	-	-	PUNCT
ajfa-93	274	11	gonzales	gonzales	PROPN
ajfa-93	274	12	,	,	PUNCT
ajfa-93	274	13	c.	c.	PROPN
ajfa-93	274	14	&	&	CCONJ
ajfa-93	274	15	moneva	moneva	PROPN
ajfa-93	274	16	,	,	PUNCT
ajfa-93	274	17	j.	j.	PROPN
ajfa-93	274	18	(	(	PUNCT
ajfa-93	274	19	2008	2008	NUM
ajfa-93	274	20	)	)	PUNCT
ajfa-93	274	21	,	,	PUNCT
ajfa-93	274	22	“	"	PUNCT
ajfa-93	274	23	corporate	corporate	ADJ
ajfa-93	274	24	social	social	ADJ
ajfa-93	274	25	reporting	reporting	NOUN
ajfa-93	274	26	and	and	CCONJ
ajfa-93	274	27	reputation	reputation	NOUN
ajfa-93	274	28	risk	risk	NOUN
ajfa-93	274	29	management	management	NOUN
ajfa-93	274	30	”	"	PUNCT
ajfa-93	274	31	,	,	PUNCT
ajfa-93	274	32	accounting	accounting	NOUN
ajfa-93	274	33	,	,	PUNCT
ajfa-93	274	34	auditing	auditing	NOUN
ajfa-93	274	35	and	and	CCONJ
ajfa-93	274	36	accountability	accountability	NOUN
ajfa-93	274	37	journal	journal	NOUN
ajfa-93	274	38	,	,	PUNCT
ajfa-93	274	39	vol.21	vol.21	NOUN
ajfa-93	274	40	,	,	PUNCT
ajfa-93	274	41	no	no	INTJ
ajfa-93	274	42	.	.	NOUN
ajfa-93	274	43	3	3	NUM
ajfa-93	274	44	,	,	PUNCT
ajfa-93	274	45	2008	2008	NUM
ajfa-93	274	46	,	,	PUNCT
ajfa-93	274	47	pp	pp	ADJ
ajfa-93	274	48	.	.	PUNCT
ajfa-93	275	1	337	337	NUM
ajfa-93	275	2	-	-	SYM
ajfa-93	275	3	362	362	NUM
ajfa-93	275	4	bhojral	bhojral	NOUN
ajfa-93	275	5	,	,	PUNCT
ajfa-93	275	6	s.	s.	PROPN
ajfa-93	275	7	&	&	CCONJ
ajfa-93	275	8	sengupta	sengupta	PROPN
ajfa-93	275	9	,	,	PUNCT
ajfa-93	275	10	p.	p.	PROPN
ajfa-93	275	11	,	,	PUNCT
ajfa-93	275	12	(	(	PUNCT
ajfa-93	275	13	2003	2003	NUM
ajfa-93	275	14	)	)	PUNCT
ajfa-93	275	15	,	,	PUNCT
ajfa-93	275	16	“	"	PUNCT
ajfa-93	275	17	effect	effect	NOUN
ajfa-93	275	18	of	of	ADP
ajfa-93	275	19	corporate	corporate	ADJ
ajfa-93	275	20	governance	governance	NOUN
ajfa-93	275	21	on	on	ADP
ajfa-93	275	22	bond	bond	NOUN
ajfa-93	275	23	ratings	rating	NOUN
ajfa-93	275	24	and	and	CCONJ
ajfa-93	275	25	yields	yield	NOUN
ajfa-93	275	26	:	:	PUNCT
ajfa-93	275	27	the	the	DET
ajfa-93	275	28	role	role	NOUN
ajfa-93	275	29	of	of	ADP
ajfa-93	275	30	institutional	institutional	ADJ
ajfa-93	275	31	investors	investor	NOUN
ajfa-93	275	32	and	and	CCONJ
ajfa-93	275	33	outside	outside	ADJ
ajfa-93	275	34	directors	director	NOUN
ajfa-93	275	35	”	"	PUNCT
ajfa-93	275	36	,	,	PUNCT
ajfa-93	275	37	the	the	DET
ajfa-93	275	38	journal	journal	NOUN
ajfa-93	275	39	of	of	ADP
ajfa-93	275	40	business	business	NOUN
ajfa-93	275	41	,	,	PUNCT
ajfa-93	275	42	vol	vol	NOUN
ajfa-93	275	43	.	.	PROPN
ajfa-93	275	44	76	76	NUM
ajfa-93	275	45	,	,	PUNCT
ajfa-93	275	46	no.3	no.3	VERB
ajfa-93	275	47	,	,	PUNCT
ajfa-93	275	48	july	july	PROPN
ajfa-93	275	49	2003	2003	NUM
ajfa-93	275	50	,	,	PUNCT
ajfa-93	275	51	pp	pp	ADV
ajfa-93	275	52	.	.	PUNCT
ajfa-93	276	1	455	455	NUM
ajfa-93	276	2	-	-	SYM
ajfa-93	276	3	475	475	NUM
ajfa-93	276	4	botosan	botosan	NOUN
ajfa-93	276	5	,	,	PUNCT
ajfa-93	276	6	c.a	c.a	PROPN
ajfa-93	276	7	.	.	PROPN
ajfa-93	276	8	(	(	PUNCT
ajfa-93	276	9	1997	1997	NUM
ajfa-93	276	10	)	)	PUNCT
ajfa-93	276	11	,	,	PUNCT
ajfa-93	276	12	“	"	PUNCT
ajfa-93	276	13	disclosure	disclosure	NOUN
ajfa-93	276	14	level	level	NOUN
ajfa-93	276	15	and	and	CCONJ
ajfa-93	276	16	the	the	DET
ajfa-93	276	17	cost	cost	NOUN
ajfa-93	276	18	of	of	ADP
ajfa-93	276	19	equity	equity	NOUN
ajfa-93	276	20	capital	capital	NOUN
ajfa-93	276	21	”	"	PUNCT
ajfa-93	276	22	,	,	PUNCT
ajfa-93	276	23	the	the	DET
ajfa-93	276	24	accounting	accounting	NOUN
ajfa-93	276	25	review	review	NOUN
ajfa-93	276	26	,	,	PUNCT
ajfa-93	276	27	vol	vol	NOUN
ajfa-93	276	28	.	.	PROPN
ajfa-93	276	29	72	72	NUM
ajfa-93	276	30	,	,	PUNCT
ajfa-93	276	31	issue	issue	NOUN
ajfa-93	276	32	3	3	NUM
ajfa-93	276	33	,	,	PUNCT
ajfa-93	276	34	pp.323	pp.323	NUM
ajfa-93	276	35	-	-	SYM
ajfa-93	276	36	349	349	NUM
ajfa-93	276	37	botosan	botosan	NOUN
ajfa-93	276	38	,	,	PUNCT
ajfa-93	276	39	c.	c.	PROPN
ajfa-93	276	40	a.	a.	PROPN
ajfa-93	276	41	and	and	CCONJ
ajfa-93	276	42	plumlee	plumlee	PROPN
ajfa-93	276	43	,	,	PUNCT
ajfa-93	276	44	m.a	m.a	PROPN
ajfa-93	276	45	.	.	PROPN
ajfa-93	276	46	,	,	PUNCT
ajfa-93	276	47	(	(	PUNCT
ajfa-93	276	48	2002	2002	NUM
ajfa-93	276	49	)	)	PUNCT
ajfa-93	276	50	,	,	PUNCT
ajfa-93	276	51	“	"	PUNCT
ajfa-93	276	52	a	a	DET
ajfa-93	276	53	re	re	NOUN
ajfa-93	276	54	-	-	NOUN
ajfa-93	276	55	examination	examination	NOUN
ajfa-93	276	56	of	of	ADP
ajfa-93	276	57	disclosure	disclosure	NOUN
ajfa-93	276	58	level	level	NOUN
ajfa-93	276	59	and	and	CCONJ
ajfa-93	276	60	the	the	DET
ajfa-93	276	61	cost	cost	NOUN
ajfa-93	276	62	of	of	ADP
ajfa-93	276	63	equity	equity	NOUN
ajfa-93	276	64	capital	capital	NOUN
ajfa-93	276	65	”	"	PUNCT
ajfa-93	276	66	,	,	PUNCT
ajfa-93	276	67	journal	journal	NOUN
ajfa-93	276	68	of	of	ADP
ajfa-93	276	69	accounting	accounting	NOUN
ajfa-93	276	70	research	research	NOUN
ajfa-93	276	71	,	,	PUNCT
ajfa-93	276	72	vol	vol	NOUN
ajfa-93	276	73	.	.	PROPN
ajfa-93	276	74	40	40	NUM
ajfa-93	276	75	,	,	PUNCT
ajfa-93	276	76	issue	issue	NOUN
ajfa-93	276	77	1	1	NUM
ajfa-93	276	78	,	,	PUNCT
ajfa-93	276	79	march	march	PROPN
ajfa-93	276	80	2002	2002	NUM
ajfa-93	276	81	,	,	PUNCT
ajfa-93	276	82	pp	pp	ADV
ajfa-93	276	83	.	.	PUNCT
ajfa-93	277	1	21	21	NUM
ajfa-93	277	2	-	-	SYM
ajfa-93	277	3	40	40	NUM
ajfa-93	277	4	brooks	brook	NOUN
ajfa-93	277	5	,	,	PUNCT
ajfa-93	277	6	c.	c.	PROPN
ajfa-93	277	7	(	(	PUNCT
ajfa-93	277	8	2002	2002	NUM
ajfa-93	277	9	)	)	PUNCT
ajfa-93	277	10	,	,	PUNCT
ajfa-93	277	11	introductory	introductory	ADJ
ajfa-93	277	12	econometrics	econometric	NOUN
ajfa-93	277	13	for	for	ADP
ajfa-93	277	14	finance	finance	PROPN
ajfa-93	277	15	cambridge	cambridge	PROPN
ajfa-93	277	16	university	university	PROPN
ajfa-93	277	17	press	press	PROPN
ajfa-93	277	18	,	,	PUNCT
ajfa-93	277	19	cambridge	cambridge	PROPN
ajfa-93	277	20	clarkson	clarkson	PROPN
ajfa-93	277	21	,	,	PUNCT
ajfa-93	277	22	p.	p.	PROPN
ajfa-93	277	23	,	,	PUNCT
ajfa-93	277	24	lammerts	lammert	VERB
ajfa-93	277	25	van	van	PROPN
ajfa-93	277	26	bueren	bueren	PROPN
ajfa-93	277	27	,	,	PUNCT
ajfa-93	277	28	a.	a.	NOUN
ajfa-93	277	29	and	and	CCONJ
ajfa-93	277	30	walker	walker	PROPN
ajfa-93	277	31	,	,	PUNCT
ajfa-93	277	32	j.	j.	PROPN
ajfa-93	277	33	,	,	PUNCT
ajfa-93	277	34	(	(	PUNCT
ajfa-93	277	35	2006	2006	NUM
ajfa-93	277	36	)	)	PUNCT
ajfa-93	277	37	,	,	PUNCT
ajfa-93	277	38	“	"	PUNCT
ajfa-93	277	39	chief	chief	ADJ
ajfa-93	277	40	executive	executive	ADJ
ajfa-93	277	41	officer	officer	NOUN
ajfa-93	277	42	remuneration	remuneration	NOUN
ajfa-93	277	43	disclosure	disclosure	NOUN
ajfa-93	277	44	quality	quality	NOUN
ajfa-93	277	45	:	:	PUNCT
ajfa-93	277	46	corporate	corporate	ADJ
ajfa-93	277	47	responses	response	NOUN
ajfa-93	277	48	to	to	ADP
ajfa-93	277	49	an	an	DET
ajfa-93	277	50	evolving	evolve	VERB
ajfa-93	277	51	disclosure	disclosure	NOUN
ajfa-93	277	52	environment	environment	NOUN
ajfa-93	277	53	”	"	PUNCT
ajfa-93	277	54	,	,	PUNCT
ajfa-93	277	55	accounting	accounting	NOUN
ajfa-93	277	56	and	and	CCONJ
ajfa-93	277	57	finance	finance	NOUN
ajfa-93	277	58	,	,	PUNCT
ajfa-93	277	59	vol.46	vol.46	PROPN
ajfa-93	277	60	,	,	PUNCT
ajfa-93	277	61	issue	issue	NOUN
ajfa-93	277	62	5	5	NUM
ajfa-93	277	63	,	,	PUNCT
ajfa-93	277	64	december	december	PROPN
ajfa-93	277	65	2006	2006	NUM
ajfa-93	277	66	pp	pp	ADP
ajfa-93	277	67	.	.	PUNCT
ajfa-93	278	1	771	771	NUM
ajfa-93	278	2	-	-	SYM
ajfa-93	278	3	796	796	NUM
ajfa-93	278	4	clarkson	clarkson	NOUN
ajfa-93	278	5	,	,	PUNCT
ajfa-93	278	6	p.	p.	PROPN
ajfa-93	278	7	,	,	PUNCT
ajfa-93	278	8	li	li	PROPN
ajfa-93	278	9	,	,	PUNCT
ajfa-93	278	10	y.	y.	PROPN
ajfa-93	278	11	,	,	PUNCT
ajfa-93	278	12	richardson	richardson	PROPN
ajfa-93	278	13	,	,	PUNCT
ajfa-93	278	14	g.	g.	PROPN
ajfa-93	278	15	and	and	CCONJ
ajfa-93	278	16	vasvari	vasvari	PROPN
ajfa-93	278	17	,	,	PUNCT
ajfa-93	278	18	f.	f.	PROPN
ajfa-93	278	19	,	,	PUNCT
ajfa-93	278	20	(	(	PUNCT
ajfa-93	278	21	2008	2008	NUM
ajfa-93	278	22	)	)	PUNCT
ajfa-93	278	23	,	,	PUNCT
ajfa-93	278	24	“	"	PUNCT
ajfa-93	278	25	revisiting	revisit	VERB
ajfa-93	278	26	the	the	DET
ajfa-93	278	27	relation	relation	NOUN
ajfa-93	278	28	between	between	ADP
ajfa-93	278	29	environmental	environmental	ADJ
ajfa-93	278	30	performance	performance	NOUN
ajfa-93	278	31	and	and	CCONJ
ajfa-93	278	32	environmental	environmental	ADJ
ajfa-93	278	33	disclosure	disclosure	NOUN
ajfa-93	278	34	:	:	PUNCT
ajfa-93	278	35	an	an	DET
ajfa-93	278	36	empirical	empirical	ADJ
ajfa-93	278	37	analysis	analysis	NOUN
ajfa-93	278	38	”	"	PUNCT
ajfa-93	278	39	,	,	PUNCT
ajfa-93	278	40	accounting	accounting	NOUN
ajfa-93	278	41	,	,	PUNCT
ajfa-93	278	42	organizations	organization	NOUN
ajfa-93	278	43	and	and	CCONJ
ajfa-93	278	44	society	society	NOUN
ajfa-93	278	45	,	,	PUNCT
ajfa-93	278	46	vol	vol	NOUN
ajfa-93	278	47	.	.	PROPN
ajfa-93	278	48	33	33	NUM
ajfa-93	278	49	,	,	PUNCT
ajfa-93	278	50	issues	issue	NOUN
ajfa-93	278	51	4	4	NUM
ajfa-93	278	52	-	-	SYM
ajfa-93	278	53	5	5	NUM
ajfa-93	278	54	,	,	PUNCT
ajfa-93	278	55	may	may	PROPN
ajfa-93	278	56	-	-	PUNCT
ajfa-93	278	57	july	july	PROPN
ajfa-93	278	58	2008	2008	NUM
ajfa-93	278	59	,	,	PUNCT
ajfa-93	278	60	pp.303	pp.303	PROPN
ajfa-93	278	61	-	-	PUNCT
ajfa-93	278	62	327	327	NUM
ajfa-93	278	63	deangelo	deangelo	NOUN
ajfa-93	278	64	,	,	PUNCT
ajfa-93	278	65	l.e	l.e	PROPN
ajfa-93	278	66	,	,	PUNCT
ajfa-93	278	67	(	(	PUNCT
ajfa-93	278	68	1981	1981	NUM
ajfa-93	278	69	)	)	PUNCT
ajfa-93	278	70	,	,	PUNCT
ajfa-93	278	71	“	"	PUNCT
ajfa-93	278	72	auditor	auditor	NOUN
ajfa-93	278	73	size	size	NOUN
ajfa-93	278	74	and	and	CCONJ
ajfa-93	278	75	audit	audit	NOUN
ajfa-93	278	76	quality	quality	NOUN
ajfa-93	278	77	”	"	PUNCT
ajfa-93	278	78	,	,	PUNCT
ajfa-93	278	79	journal	journal	NOUN
ajfa-93	278	80	of	of	ADP
ajfa-93	278	81	accounting	accounting	NOUN
ajfa-93	278	82	and	and	CCONJ
ajfa-93	278	83	economics	economic	NOUN
ajfa-93	278	84	,	,	PUNCT
ajfa-93	278	85	vol	vol	NOUN
ajfa-93	278	86	.	.	PROPN
ajfa-93	278	87	3	3	NUM
ajfa-93	278	88	,	,	PUNCT
ajfa-93	278	89	issue	issue	NOUN
ajfa-93	278	90	3	3	NUM
ajfa-93	278	91	,	,	PUNCT
ajfa-93	278	92	december	december	PROPN
ajfa-93	278	93	1981	1981	NUM
ajfa-93	278	94	,	,	PUNCT
ajfa-93	278	95	pp	pp	ADP
ajfa-93	278	96	.	.	PUNCT
ajfa-93	279	1	183	183	NUM
ajfa-93	279	2	-	-	SYM
ajfa-93	279	3	199	199	NUM
ajfa-93	279	4	deegan	deegan	PROPN
ajfa-93	279	5	,	,	PUNCT
ajfa-93	279	6	craig	craig	PROPN
ajfa-93	279	7	.	.	PROPN
ajfa-93	279	8	,	,	PUNCT
ajfa-93	279	9	(	(	PUNCT
ajfa-93	279	10	2002	2002	NUM
ajfa-93	279	11	)	)	PUNCT
ajfa-93	279	12	,	,	PUNCT
ajfa-93	279	13	“	"	PUNCT
ajfa-93	279	14	the	the	DET
ajfa-93	279	15	legitimising	legitimise	VERB
ajfa-93	279	16	effect	effect	NOUN
ajfa-93	279	17	of	of	ADP
ajfa-93	279	18	social	social	ADJ
ajfa-93	279	19	and	and	CCONJ
ajfa-93	279	20	environmental	environmental	ADJ
ajfa-93	279	21	disclosues	disclosue	NOUN
ajfa-93	279	22	–	–	PUNCT
ajfa-93	279	23	a	a	DET
ajfa-93	279	24	theoretical	theoretical	ADJ
ajfa-93	279	25	foundation	foundation	NOUN
ajfa-93	279	26	”	"	PUNCT
ajfa-93	279	27	,	,	PUNCT
ajfa-93	279	28	accounting	accounting	NOUN
ajfa-93	279	29	,	,	PUNCT
ajfa-93	279	30	auditing	auditing	NOUN
ajfa-93	279	31	and	and	CCONJ
ajfa-93	279	32	accountability	accountability	NOUN
ajfa-93	279	33	journal	journal	NOUN
ajfa-93	279	34	,	,	PUNCT
ajfa-93	279	35	vol.15	vol.15	NOUN
ajfa-93	279	36	,	,	PUNCT
ajfa-93	279	37	no	no	INTJ
ajfa-93	279	38	.	.	NOUN
ajfa-93	279	39	3	3	NUM
ajfa-93	279	40	,	,	PUNCT
ajfa-93	279	41	2002	2002	NUM
ajfa-93	279	42	,	,	PUNCT
ajfa-93	279	43	pp	pp	ADP
ajfa-93	279	44	.	.	PUNCT
ajfa-93	280	1	282	282	NUM
ajfa-93	280	2	-	-	SYM
ajfa-93	280	3	311	311	NUM
ajfa-93	280	4	(	(	PUNCT
ajfa-93	280	5	introduction	introduction	NOUN
ajfa-93	280	6	to	to	ADP
ajfa-93	280	7	a	a	DET
ajfa-93	280	8	special	special	ADJ
ajfa-93	280	9	issue	issue	NOUN
ajfa-93	280	10	on	on	ADP
ajfa-93	280	11	this	this	DET
ajfa-93	280	12	subject	subject	NOUN
ajfa-93	280	13	)	)	PUNCT
ajfa-93	280	14	.	.	PUNCT
ajfa-93	281	1	dye	dye	PROPN
ajfa-93	281	2	,	,	PUNCT
ajfa-93	281	3	ronald	ronald	PROPN
ajfa-93	281	4	a.	a.	PROPN
ajfa-93	281	5	,	,	PUNCT
ajfa-93	281	6	(	(	PUNCT
ajfa-93	281	7	1985	1985	NUM
ajfa-93	281	8	)	)	PUNCT
ajfa-93	281	9	,	,	PUNCT
ajfa-93	281	10	“	"	PUNCT
ajfa-93	281	11	disclosure	disclosure	NOUN
ajfa-93	281	12	of	of	ADP
ajfa-93	281	13	non	non	ADJ
ajfa-93	281	14	-	-	ADJ
ajfa-93	281	15	proprietary	proprietary	ADJ
ajfa-93	281	16	information	information	NOUN
ajfa-93	281	17	”	"	PUNCT
ajfa-93	281	18	,	,	PUNCT
ajfa-93	281	19	journal	journal	NOUN
ajfa-93	281	20	of	of	ADP
ajfa-93	281	21	accounting	accounting	NOUN
ajfa-93	281	22	research	research	NOUN
ajfa-93	281	23	,	,	PUNCT
ajfa-93	281	24	vol	vol	NOUN
ajfa-93	281	25	.	.	PROPN
ajfa-93	281	26	23	23	NUM
ajfa-93	281	27	,	,	PUNCT
ajfa-93	281	28	issue	issue	NOUN
ajfa-93	281	29	1	1	NUM
ajfa-93	281	30	,	,	PUNCT
ajfa-93	281	31	spring	spring	NOUN
ajfa-93	281	32	1985	1985	NUM
ajfa-93	281	33	,	,	PUNCT
ajfa-93	281	34	pp.123	pp.123	PROPN
ajfa-93	281	35	-	-	PUNCT
ajfa-93	281	36	145	145	NUM
ajfa-93	281	37	francis	francis	PROPN
ajfa-93	281	38	,	,	PUNCT
ajfa-93	281	39	jere	jere	PROPN
ajfa-93	281	40	r.	r.	PROPN
ajfa-93	281	41	,	,	PUNCT
ajfa-93	281	42	khurana	khurana	PROPN
ajfa-93	281	43	inder	inder	PROPN
ajfa-93	281	44	k.	k.	PROPN
ajfa-93	281	45	&	&	CCONJ
ajfa-93	281	46	pereira	pereira	PROPN
ajfa-93	281	47	raynolde	raynolde	PROPN
ajfa-93	281	48	(	(	PUNCT
ajfa-93	281	49	2003	2003	NUM
ajfa-93	281	50	)	)	PUNCT
ajfa-93	281	51	,	,	PUNCT
ajfa-93	281	52	“	"	PUNCT
ajfa-93	281	53	the	the	DET
ajfa-93	281	54	role	role	NOUN
ajfa-93	281	55	of	of	ADP
ajfa-93	281	56	accounting	accounting	NOUN
ajfa-93	281	57	and	and	CCONJ
ajfa-93	281	58	auditing	auditing	NOUN
ajfa-93	281	59	in	in	ADP
ajfa-93	281	60	corporate	corporate	ADJ
ajfa-93	281	61	governance	governance	NOUN
ajfa-93	281	62	and	and	CCONJ
ajfa-93	281	63	the	the	DET
ajfa-93	281	64	development	development	NOUN
ajfa-93	281	65	of	of	ADP
ajfa-93	281	66	financial	financial	ADJ
ajfa-93	281	67	markets	market	NOUN
ajfa-93	281	68	around	around	ADP
ajfa-93	281	69	the	the	DET
ajfa-93	281	70	world	world	NOUN
ajfa-93	281	71	”	"	PUNCT
ajfa-93	281	72	,	,	PUNCT
ajfa-93	281	73	asia	asia	PROPN
ajfa-93	281	74	-	-	PUNCT
ajfa-93	281	75	pacific	pacific	PROPN
ajfa-93	281	76	journal	journal	PROPN
ajfa-93	281	77	of	of	ADP
ajfa-93	281	78	accounting	accounting	PROPN
ajfa-93	281	79	&	&	CCONJ
ajfa-93	281	80	economics	economic	NOUN
ajfa-93	281	81	,	,	PUNCT
ajfa-93	281	82	vol	vol	NOUN
ajfa-93	281	83	.	.	PROPN
ajfa-93	281	84	10	10	NUM
ajfa-93	281	85	,	,	PUNCT
ajfa-93	281	86	issue	issue	NOUN
ajfa-93	281	87	1	1	NUM
ajfa-93	281	88	,	,	PUNCT
ajfa-93	281	89	june	june	PROPN
ajfa-93	281	90	2003	2003	NUM
ajfa-93	281	91	,	,	PUNCT
ajfa-93	281	92	pp	pp	ADJ
ajfa-93	281	93	.	.	PUNCT
ajfa-93	282	1	1	1	NUM
ajfa-93	282	2	-	-	SYM
ajfa-93	282	3	30	30	NUM
ajfa-93	282	4	gompers	gomper	NOUN
ajfa-93	282	5	,	,	PUNCT
ajfa-93	282	6	p.	p.	NOUN
ajfa-93	282	7	,	,	PUNCT
ajfa-93	282	8	ishii	ishii	PROPN
ajfa-93	282	9	,	,	PUNCT
ajfa-93	282	10	j.	j.	PROPN
ajfa-93	282	11	and	and	CCONJ
ajfa-93	282	12	metrick	metrick	ADJ
ajfa-93	282	13	,	,	PUNCT
ajfa-93	282	14	a.	a.	NOUN
ajfa-93	282	15	(	(	PUNCT
ajfa-93	282	16	2003	2003	NUM
ajfa-93	282	17	)	)	PUNCT
ajfa-93	282	18	,	,	PUNCT
ajfa-93	282	19	“	"	PUNCT
ajfa-93	282	20	corporate	corporate	ADJ
ajfa-93	282	21	governance	governance	NOUN
ajfa-93	282	22	and	and	CCONJ
ajfa-93	282	23	equity	equity	NOUN
ajfa-93	282	24	prices	price	NOUN
ajfa-93	282	25	”	"	PUNCT
ajfa-93	282	26	,	,	PUNCT
ajfa-93	282	27	the	the	DET
ajfa-93	282	28	quarterly	quarterly	ADJ
ajfa-93	282	29	journal	journal	NOUN
ajfa-93	282	30	of	of	ADP
ajfa-93	282	31	economics	economic	NOUN
ajfa-93	282	32	,	,	PUNCT
ajfa-93	282	33	vol	vol	NOUN
ajfa-93	282	34	.	.	PROPN
ajfa-93	282	35	118	118	NUM
ajfa-93	282	36	,	,	PUNCT
ajfa-93	282	37	issue	issue	NOUN
ajfa-93	282	38	1	1	NUM
ajfa-93	282	39	,	,	PUNCT
ajfa-93	282	40	february	february	PROPN
ajfa-93	282	41	2003	2003	NUM
ajfa-93	282	42	,	,	PUNCT
ajfa-93	282	43	pp	pp	ADP
ajfa-93	282	44	.	.	PUNCT
ajfa-93	283	1	107	107	NUM
ajfa-93	283	2	-	-	SYM
ajfa-93	283	3	155	155	NUM
ajfa-93	283	4	asian	asian	ADJ
ajfa-93	283	5	journal	journal	NOUN
ajfa-93	283	6	of	of	ADP
ajfa-93	283	7	finance	finance	PROPN
ajfa-93	283	8	&	&	CCONJ
ajfa-93	283	9	accounting	accounting	PROPN
ajfa-93	283	10	issn	issn	PROPN
ajfa-93	283	11	1946	1946	NUM
ajfa-93	283	12	-	-	PUNCT
ajfa-93	283	13	052x	052x	NOUN
ajfa-93	283	14	200x	200x	NUM
ajfa-93	283	15	,	,	PUNCT
ajfa-93	283	16	vol	vol	NOUN
ajfa-93	283	17	.	.	PROPN
ajfa-93	283	18	1	1	NUM
ajfa-93	283	19	,	,	PUNCT
ajfa-93	283	20	no	no	INTJ
ajfa-93	283	21	.	.	NOUN
ajfa-93	283	22	1	1	NUM
ajfa-93	283	23	:	:	PUNCT
ajfa-93	283	24	e1	e1	VERB
ajfa-93	283	25	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-93	283	26	52	52	NUM
ajfa-93	283	27	gujarati	gujarati	PROPN
ajfa-93	283	28	,	,	PUNCT
ajfa-93	283	29	d.	d.	PROPN
ajfa-93	283	30	(	(	PUNCT
ajfa-93	283	31	2003	2003	NUM
ajfa-93	283	32	)	)	PUNCT
ajfa-93	283	33	,	,	PUNCT
ajfa-93	283	34	basic	basic	ADJ
ajfa-93	283	35	econometrics	econometrics	NOUN
ajfa-93	283	36	4	4	NUM
ajfa-93	283	37	th	th	X
ajfa-93	283	38	edition	edition	NOUN
ajfa-93	283	39	,	,	PUNCT
ajfa-93	283	40	mcgraw	mcgraw	PROPN
ajfa-93	283	41	-	-	PUNCT
ajfa-93	283	42	hill	hill	PROPN
ajfa-93	283	43	,	,	PUNCT
ajfa-93	283	44	boston	boston	PROPN
ajfa-93	283	45	jensen	jensen	PROPN
ajfa-93	283	46	,	,	PUNCT
ajfa-93	283	47	m.	m.	PROPN
ajfa-93	283	48	c.	c.	PROPN
ajfa-93	283	49	&	&	CCONJ
ajfa-93	283	50	meckling	meckling	PROPN
ajfa-93	283	51	,	,	PUNCT
ajfa-93	283	52	w.	w.	PROPN
ajfa-93	283	53	h.	h.	PROPN
ajfa-93	283	54	,	,	PUNCT
ajfa-93	283	55	(	(	PUNCT
ajfa-93	283	56	1976	1976	NUM
ajfa-93	283	57	)	)	PUNCT
ajfa-93	283	58	,	,	PUNCT
ajfa-93	283	59	“	"	PUNCT
ajfa-93	283	60	theory	theory	NOUN
ajfa-93	283	61	of	of	ADP
ajfa-93	283	62	the	the	DET
ajfa-93	283	63	firm	firm	NOUN
ajfa-93	283	64	:	:	PUNCT
ajfa-93	283	65	managerial	managerial	ADJ
ajfa-93	283	66	behavior	behavior	NOUN
ajfa-93	283	67	,	,	PUNCT
ajfa-93	283	68	agency	agency	NOUN
ajfa-93	283	69	costs	cost	NOUN
ajfa-93	283	70	and	and	CCONJ
ajfa-93	283	71	ownership	ownership	NOUN
ajfa-93	283	72	structure	structure	NOUN
ajfa-93	283	73	”	"	PUNCT
ajfa-93	283	74	,	,	PUNCT
ajfa-93	283	75	journal	journal	NOUN
ajfa-93	283	76	of	of	ADP
ajfa-93	283	77	financial	financial	ADJ
ajfa-93	283	78	economics	economic	NOUN
ajfa-93	283	79	,	,	PUNCT
ajfa-93	283	80	vol	vol	NOUN
ajfa-93	283	81	3	3	NUM
ajfa-93	283	82	,	,	PUNCT
ajfa-93	283	83	issue	issue	NOUN
ajfa-93	283	84	4	4	NUM
ajfa-93	283	85	,	,	PUNCT
ajfa-93	283	86	(	(	PUNCT
ajfa-93	283	87	october	october	PROPN
ajfa-93	283	88	1976	1976	NUM
ajfa-93	283	89	)	)	PUNCT
ajfa-93	284	1	pp	pp	ADP
ajfa-93	284	2	.	.	PUNCT
ajfa-93	285	1	305	305	NUM
ajfa-93	285	2	-	-	SYM
ajfa-93	285	3	360	360	NUM
ajfa-93	285	4	.	.	PUNCT
ajfa-93	286	1	kmenta	kmenta	PROPN
ajfa-93	286	2	,	,	PUNCT
ajfa-93	286	3	j.	j.	PROPN
ajfa-93	286	4	(	(	PUNCT
ajfa-93	286	5	1971	1971	NUM
ajfa-93	286	6	)	)	PUNCT
ajfa-93	286	7	,	,	PUNCT
ajfa-93	286	8	elements	element	NOUN
ajfa-93	286	9	of	of	ADP
ajfa-93	286	10	econometrics	econometric	NOUN
ajfa-93	286	11	the	the	DET
ajfa-93	286	12	macmillan	macmillan	PROPN
ajfa-93	286	13	company	company	NOUN
ajfa-93	286	14	,	,	PUNCT
ajfa-93	286	15	new	new	PROPN
ajfa-93	286	16	york	york	PROPN
ajfa-93	286	17	horwarth	horwarth	PROPN
ajfa-93	286	18	(	(	PUNCT
ajfa-93	286	19	2002	2002	NUM
ajfa-93	286	20	)	)	PUNCT
ajfa-93	286	21	,	,	PUNCT
ajfa-93	286	22	corporate	corporate	ADJ
ajfa-93	286	23	governance	governance	NOUN
ajfa-93	286	24	report	report	NOUN
ajfa-93	286	25	:	:	PUNCT
ajfa-93	286	26	from	from	ADP
ajfa-93	286	27	research	research	NOUN
ajfa-93	286	28	by	by	ADP
ajfa-93	286	29	jim	jim	PROPN
ajfa-93	286	30	psaros	psaros	PROPN
ajfa-93	286	31	and	and	CCONJ
ajfa-93	286	32	michael	michael	PROPN
ajfa-93	286	33	seamer	seamer	PROPN
ajfa-93	286	34	,	,	PUNCT
ajfa-93	286	35	university	university	PROPN
ajfa-93	286	36	of	of	ADP
ajfa-93	286	37	newcastle	newcastle	PROPN
ajfa-93	286	38	business	business	PROPN
ajfa-93	286	39	school	school	PROPN
ajfa-93	286	40	,	,	PUNCT
ajfa-93	286	41	published	publish	VERB
ajfa-93	286	42	by	by	ADP
ajfa-93	286	43	horwarth	horwarth	PROPN
ajfa-93	286	44	(	(	PUNCT
ajfa-93	286	45	nsw	nsw	PROPN
ajfa-93	286	46	)	)	PUNCT
ajfa-93	286	47	pty	pty	PROPN
ajfa-93	286	48	ltd	ltd	PROPN
ajfa-93	286	49	,	,	PUNCT
ajfa-93	286	50	sydney	sydney	PROPN
ajfa-93	286	51	2002	2002	NUM
ajfa-93	286	52	.	.	PUNCT
ajfa-93	287	1	(	(	PUNCT
ajfa-93	287	2	www.horwarth.com.au	www.horwarth.com.au	PROPN
ajfa-93	287	3	)	)	PUNCT
ajfa-93	287	4	kpmg	kpmg	PROPN
ajfa-93	287	5	international	international	ADJ
ajfa-93	287	6	survey	survey	NOUN
ajfa-93	287	7	of	of	ADP
ajfa-93	287	8	corporate	corporate	ADJ
ajfa-93	287	9	responsibility	responsibility	NOUN
ajfa-93	287	10	reporting	report	VERB
ajfa-93	287	11	(	(	PUNCT
ajfa-93	287	12	2008	2008	NUM
ajfa-93	287	13	)	)	PUNCT
ajfa-93	287	14	,	,	PUNCT
ajfa-93	287	15	kpmg	kpmg	PROPN
ajfa-93	287	16	international	international	PROPN
ajfa-93	287	17	,	,	PUNCT
ajfa-93	287	18	p.4	p.4	ADJ
ajfa-93	287	19	link	link	NOUN
ajfa-93	287	20	accesses	access	VERB
ajfa-93	287	21	16/4/09	16/4/09	NUM
ajfa-93	287	22	http://www.complianceweek.com/s/documents/crsurvey.pdf	http://www.complianceweek.com/s/documents/crsurvey.pdf	PROPN
ajfa-93	287	23	lang	lang	PROPN
ajfa-93	287	24	,	,	PUNCT
ajfa-93	287	25	mark	mark	PROPN
ajfa-93	287	26	h.	h.	PROPN
ajfa-93	287	27	and	and	CCONJ
ajfa-93	287	28	lundholm	lundholm	PROPN
ajfa-93	287	29	,	,	PUNCT
ajfa-93	287	30	russell	russell	PROPN
ajfa-93	287	31	j.	j.	PROPN
ajfa-93	287	32	,	,	PUNCT
ajfa-93	287	33	(	(	PUNCT
ajfa-93	287	34	1996	1996	NUM
ajfa-93	287	35	)	)	PUNCT
ajfa-93	287	36	,	,	PUNCT
ajfa-93	287	37	“	"	PUNCT
ajfa-93	287	38	corporate	corporate	ADJ
ajfa-93	287	39	disclosure	disclosure	NOUN
ajfa-93	287	40	policy	policy	NOUN
ajfa-93	287	41	and	and	CCONJ
ajfa-93	287	42	analyst	analyst	NOUN
ajfa-93	287	43	behaviour	behaviour	NOUN
ajfa-93	287	44	”	"	PUNCT
ajfa-93	287	45	,	,	PUNCT
ajfa-93	287	46	the	the	DET
ajfa-93	287	47	accounting	accounting	NOUN
ajfa-93	287	48	review	review	NOUN
ajfa-93	287	49	,	,	PUNCT
ajfa-93	287	50	vol	vol	NOUN
ajfa-93	287	51	.	.	PROPN
ajfa-93	287	52	71	71	NUM
ajfa-93	287	53	,	,	PUNCT
ajfa-93	287	54	no	no	INTJ
ajfa-93	287	55	.	.	NOUN
ajfa-93	287	56	4	4	NUM
ajfa-93	287	57	,	,	PUNCT
ajfa-93	287	58	pp.467	pp.467	NOUN
ajfa-93	287	59	-	-	PUNCT
ajfa-93	287	60	492	492	NUM
ajfa-93	287	61	lang	lang	PROPN
ajfa-93	287	62	,	,	PUNCT
ajfa-93	287	63	mark	mark	PROPN
ajfa-93	287	64	h.	h.	PROPN
ajfa-93	287	65	and	and	CCONJ
ajfa-93	287	66	lundholm	lundholm	PROPN
ajfa-93	287	67	,	,	PUNCT
ajfa-93	287	68	russell	russell	PROPN
ajfa-93	287	69	j.	j.	PROPN
ajfa-93	287	70	,	,	PUNCT
ajfa-93	287	71	(	(	PUNCT
ajfa-93	287	72	2000	2000	NUM
ajfa-93	287	73	)	)	PUNCT
ajfa-93	287	74	,	,	PUNCT
ajfa-93	287	75	“	"	PUNCT
ajfa-93	287	76	voluntary	voluntary	ADJ
ajfa-93	287	77	disclosure	disclosure	NOUN
ajfa-93	287	78	and	and	CCONJ
ajfa-93	287	79	equity	equity	NOUN
ajfa-93	287	80	offerings	offering	NOUN
ajfa-93	287	81	:	:	PUNCT
ajfa-93	287	82	reducing	reduce	VERB
ajfa-93	287	83	information	information	NOUN
ajfa-93	287	84	asymmetry	asymmetry	NOUN
ajfa-93	287	85	or	or	CCONJ
ajfa-93	287	86	hyping	hype	VERB
ajfa-93	287	87	the	the	DET
ajfa-93	287	88	stock	stock	NOUN
ajfa-93	287	89	?	?	PUNCT
ajfa-93	287	90	”	"	PUNCT
ajfa-93	287	91	,	,	PUNCT
ajfa-93	287	92	contemporary	contemporary	ADJ
ajfa-93	287	93	accounting	accounting	NOUN
ajfa-93	287	94	research	research	NOUN
ajfa-93	287	95	,	,	PUNCT
ajfa-93	287	96	vol	vol	NOUN
ajfa-93	287	97	.	.	PROPN
ajfa-93	287	98	17	17	NUM
ajfa-93	287	99	,	,	PUNCT
ajfa-93	287	100	issue	issue	NOUN
ajfa-93	287	101	4	4	NUM
ajfa-93	287	102	,	,	PUNCT
ajfa-93	287	103	winter	winter	NOUN
ajfa-93	287	104	2000	2000	NUM
ajfa-93	287	105	,	,	PUNCT
ajfa-93	287	106	pp	pp	ADV
ajfa-93	287	107	.	.	PUNCT
ajfa-93	288	1	623	623	NUM
ajfa-93	288	2	-	-	SYM
ajfa-93	288	3	662	662	NUM
ajfa-93	288	4	lundholm	lundholm	NOUN
ajfa-93	288	5	,	,	PUNCT
ajfa-93	288	6	r.	r.	PROPN
ajfa-93	288	7	and	and	CCONJ
ajfa-93	288	8	myers	myers	PROPN
ajfa-93	288	9	,	,	PUNCT
ajfa-93	288	10	l.a	l.a	PROPN
ajfa-93	288	11	.	.	PROPN
ajfa-93	288	12	,	,	PUNCT
ajfa-93	288	13	(	(	PUNCT
ajfa-93	288	14	2002	2002	NUM
ajfa-93	288	15	)	)	PUNCT
ajfa-93	288	16	,	,	PUNCT
ajfa-93	288	17	“	"	PUNCT
ajfa-93	288	18	bringing	bring	VERB
ajfa-93	288	19	the	the	DET
ajfa-93	288	20	future	future	NOUN
ajfa-93	288	21	forward	forward	ADV
ajfa-93	288	22	:	:	PUNCT
ajfa-93	288	23	the	the	DET
ajfa-93	288	24	effect	effect	NOUN
ajfa-93	288	25	of	of	ADP
ajfa-93	288	26	disclosure	disclosure	NOUN
ajfa-93	288	27	on	on	ADP
ajfa-93	288	28	the	the	DET
ajfa-93	288	29	returns	return	NOUN
ajfa-93	288	30	-	-	PUNCT
ajfa-93	288	31	earnings	earning	NOUN
ajfa-93	288	32	relation	relation	NOUN
ajfa-93	288	33	”	"	PUNCT
ajfa-93	288	34	,	,	PUNCT
ajfa-93	288	35	journal	journal	NOUN
ajfa-93	288	36	of	of	ADP
ajfa-93	288	37	accounting	accounting	NOUN
ajfa-93	288	38	research	research	NOUN
ajfa-93	288	39	,	,	PUNCT
ajfa-93	288	40	vol	vol	NOUN
ajfa-93	288	41	.	.	PROPN
ajfa-93	288	42	40	40	NUM
ajfa-93	288	43	,	,	PUNCT
ajfa-93	288	44	issue	issue	NOUN
ajfa-93	288	45	3	3	NUM
ajfa-93	288	46	,	,	PUNCT
ajfa-93	288	47	june	june	PROPN
ajfa-93	288	48	2002	2002	NUM
ajfa-93	288	49	,	,	PUNCT
ajfa-93	288	50	pp.809	pp.809	NOUN
ajfa-93	288	51	-	-	ADJ
ajfa-93	288	52	839	839	NUM
ajfa-93	288	53	reeb	reeb	NOUN
ajfa-93	288	54	,	,	PUNCT
ajfa-93	288	55	david	david	PROPN
ajfa-93	288	56	m.	m.	PROPN
ajfa-93	288	57	,	,	PUNCT
ajfa-93	288	58	mansi	mansi	PROPN
ajfa-93	288	59	,	,	PUNCT
ajfa-93	288	60	sattar	sattar	PROPN
ajfa-93	288	61	a.	a.	PROPN
ajfa-93	288	62	&	&	CCONJ
ajfa-93	288	63	allee	allee	PROPN
ajfa-93	288	64	,	,	PUNCT
ajfa-93	288	65	john	john	PROPN
ajfa-93	288	66	m.	m.	PROPN
ajfa-93	288	67	(	(	PUNCT
ajfa-93	288	68	2001	2001	NUM
ajfa-93	288	69	)	)	PUNCT
ajfa-93	288	70	,	,	PUNCT
ajfa-93	288	71	“	"	PUNCT
ajfa-93	288	72	firm	firm	ADJ
ajfa-93	288	73	internationalization	internationalization	NOUN
ajfa-93	288	74	and	and	CCONJ
ajfa-93	288	75	the	the	DET
ajfa-93	288	76	cost	cost	NOUN
ajfa-93	288	77	of	of	ADP
ajfa-93	288	78	debt	debt	NOUN
ajfa-93	288	79	financing	financing	NOUN
ajfa-93	288	80	:	:	PUNCT
ajfa-93	288	81	evidence	evidence	NOUN
ajfa-93	288	82	from	from	ADP
ajfa-93	288	83	non	non	ADJ
ajfa-93	288	84	-	-	ADJ
ajfa-93	288	85	provisional	provisional	ADJ
ajfa-93	288	86	publicly	publicly	ADV
ajfa-93	288	87	traded	trade	VERB
ajfa-93	288	88	debt	debt	NOUN
ajfa-93	288	89	”	"	PUNCT
ajfa-93	288	90	,	,	PUNCT
ajfa-93	288	91	journal	journal	NOUN
ajfa-93	288	92	of	of	ADP
ajfa-93	288	93	financial	financial	ADJ
ajfa-93	288	94	and	and	CCONJ
ajfa-93	288	95	quantitative	quantitative	ADJ
ajfa-93	288	96	analysis	analysis	NOUN
ajfa-93	288	97	,	,	PUNCT
ajfa-93	288	98	vol	vol	NOUN
ajfa-93	288	99	.	.	PROPN
ajfa-93	288	100	36	36	NUM
ajfa-93	288	101	,	,	PUNCT
ajfa-93	288	102	no.3	no.3	VERB
ajfa-93	288	103	,	,	PUNCT
ajfa-93	288	104	september	september	PROPN
ajfa-93	288	105	2001	2001	NUM
ajfa-93	288	106	,	,	PUNCT
ajfa-93	288	107	pp	pp	ADP
ajfa-93	288	108	.	.	PUNCT
ajfa-93	289	1	395	395	NUM
ajfa-93	289	2	-	-	SYM
ajfa-93	289	3	414	414	NUM
ajfa-93	289	4	schneider	schneider	NOUN
ajfa-93	289	5	,	,	PUNCT
ajfa-93	289	6	t.	t.	PROPN
ajfa-93	289	7	,	,	PUNCT
ajfa-93	289	8	(	(	PUNCT
ajfa-93	289	9	2008	2008	NUM
ajfa-93	289	10	)	)	PUNCT
ajfa-93	289	11	,	,	PUNCT
ajfa-93	289	12	“	"	PUNCT
ajfa-93	289	13	is	be	AUX
ajfa-93	289	14	there	there	PRON
ajfa-93	289	15	a	a	DET
ajfa-93	289	16	relation	relation	NOUN
ajfa-93	289	17	between	between	ADP
ajfa-93	289	18	the	the	DET
ajfa-93	289	19	cost	cost	NOUN
ajfa-93	289	20	of	of	ADP
ajfa-93	289	21	debt	debt	NOUN
ajfa-93	289	22	and	and	CCONJ
ajfa-93	289	23	environmental	environmental	ADJ
ajfa-93	289	24	performance	performance	NOUN
ajfa-93	289	25	?	?	PUNCT
ajfa-93	290	1	an	an	DET
ajfa-93	290	2	empirical	empirical	ADJ
ajfa-93	290	3	investigation	investigation	NOUN
ajfa-93	290	4	of	of	ADP
ajfa-93	290	5	the	the	DET
ajfa-93	290	6	u.s	u.s	PROPN
ajfa-93	290	7	.	.	PROPN
ajfa-93	290	8	pulp	pulp	NOUN
ajfa-93	290	9	and	and	CCONJ
ajfa-93	290	10	paper	paper	NOUN
ajfa-93	290	11	industry	industry	NOUN
ajfa-93	290	12	,	,	PUNCT
ajfa-93	290	13	1994	1994	NUM
ajfa-93	290	14	-	-	SYM
ajfa-93	290	15	2005	2005	NUM
ajfa-93	290	16	”	"	PUNCT
ajfa-93	290	17	,	,	PUNCT
ajfa-93	290	18	university	university	PROPN
ajfa-93	290	19	of	of	ADP
ajfa-93	290	20	alberta	alberta	PROPN
ajfa-93	290	21	working	working	PROPN
ajfa-93	290	22	paper	paper	PROPN
ajfa-93	290	23	series	series	NOUN
ajfa-93	290	24	,	,	PUNCT
ajfa-93	290	25	november	november	PROPN
ajfa-93	290	26	25	25	NUM
ajfa-93	290	27	,	,	PUNCT
ajfa-93	290	28	2008	2008	NUM
ajfa-93	290	29	(	(	PUNCT
ajfa-93	290	30	http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1299761	http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1299761	NOUN
ajfa-93	290	31	)	)	PUNCT
ajfa-93	290	32	shleifer	shleifer	NOUN
ajfa-93	290	33	,	,	PUNCT
ajfa-93	290	34	andrei	andrei	PROPN
ajfa-93	290	35	and	and	CCONJ
ajfa-93	290	36	vishny	vishny	PROPN
ajfa-93	290	37	,	,	PUNCT
ajfa-93	290	38	robert	robert	PROPN
ajfa-93	290	39	w.	w.	PROPN
ajfa-93	290	40	,	,	PUNCT
ajfa-93	290	41	(	(	PUNCT
ajfa-93	290	42	1997	1997	NUM
ajfa-93	290	43	)	)	PUNCT
ajfa-93	290	44	,	,	PUNCT
ajfa-93	290	45	“	"	PUNCT
ajfa-93	290	46	a	a	DET
ajfa-93	290	47	survey	survey	NOUN
ajfa-93	290	48	of	of	ADP
ajfa-93	290	49	corporate	corporate	ADJ
ajfa-93	290	50	governance	governance	NOUN
ajfa-93	290	51	”	"	PUNCT
ajfa-93	290	52	,	,	PUNCT
ajfa-93	290	53	journal	journal	NOUN
ajfa-93	290	54	of	of	ADP
ajfa-93	290	55	finance	finance	NOUN
ajfa-93	290	56	,	,	PUNCT
ajfa-93	290	57	vol	vol	NOUN
ajfa-93	290	58	.	.	PROPN
ajfa-93	290	59	52	52	NUM
ajfa-93	290	60	,	,	PUNCT
ajfa-93	290	61	issue	issue	NOUN
ajfa-93	290	62	2	2	NUM
ajfa-93	290	63	,	,	PUNCT
ajfa-93	290	64	june	june	PROPN
ajfa-93	290	65	1997	1997	NUM
ajfa-93	290	66	,	,	PUNCT
ajfa-93	290	67	pp.737	pp.737	PROPN
ajfa-93	290	68	-	-	PUNCT
ajfa-93	290	69	783	783	NUM
ajfa-93	290	70	sengupta	sengupta	NOUN
ajfa-93	290	71	,	,	PUNCT
ajfa-93	290	72	p.	p.	NOUN
ajfa-93	290	73	,	,	PUNCT
ajfa-93	290	74	(	(	PUNCT
ajfa-93	290	75	1998	1998	NUM
ajfa-93	290	76	)	)	PUNCT
ajfa-93	290	77	,	,	PUNCT
ajfa-93	290	78	“	"	PUNCT
ajfa-93	290	79	corporate	corporate	ADJ
ajfa-93	290	80	disclosure	disclosure	NOUN
ajfa-93	290	81	quality	quality	NOUN
ajfa-93	290	82	and	and	CCONJ
ajfa-93	290	83	the	the	DET
ajfa-93	290	84	cost	cost	NOUN
ajfa-93	290	85	of	of	ADP
ajfa-93	290	86	debt	debt	NOUN
ajfa-93	290	87	”	"	PUNCT
ajfa-93	290	88	,	,	PUNCT
ajfa-93	290	89	the	the	DET
ajfa-93	290	90	accounting	accounting	NOUN
ajfa-93	290	91	review	review	NOUN
ajfa-93	290	92	,	,	PUNCT
ajfa-93	290	93	vol	vol	NOUN
ajfa-93	290	94	.	.	PROPN
ajfa-93	290	95	73	73	NUM
ajfa-93	290	96	,	,	PUNCT
ajfa-93	290	97	no.4	no.4	PROPN
ajfa-93	290	98	,	,	PUNCT
ajfa-93	290	99	october	october	PROPN
ajfa-93	290	100	1998	1998	NUM
ajfa-93	290	101	,	,	PUNCT
ajfa-93	290	102	pp	pp	ADV
ajfa-93	290	103	.	.	PUNCT
ajfa-93	291	1	459	459	NUM
ajfa-93	291	2	-	-	PUNCT
ajfa-93	291	3	474	474	NUM
ajfa-93	291	4	standard	standard	NOUN
ajfa-93	291	5	&	&	CCONJ
ajfa-93	291	6	poor‟s	poor‟s	PROPN
ajfa-93	291	7	,	,	PUNCT
ajfa-93	291	8	(	(	PUNCT
ajfa-93	291	9	2002	2002	NUM
ajfa-93	291	10	)	)	PUNCT
ajfa-93	291	11	,	,	PUNCT
ajfa-93	291	12	“	"	PUNCT
ajfa-93	291	13	standard	standard	PROPN
ajfa-93	291	14	&	&	CCONJ
ajfa-93	291	15	poor‟s	poor‟s	ADJ
ajfa-93	291	16	corporate	corporate	ADJ
ajfa-93	291	17	governance	governance	NOUN
ajfa-93	291	18	scores	score	NOUN
ajfa-93	291	19	:	:	PUNCT
ajfa-93	291	20	criteria	criterion	NOUN
ajfa-93	291	21	,	,	PUNCT
ajfa-93	291	22	methodology	methodology	NOUN
ajfa-93	291	23	and	and	CCONJ
ajfa-93	291	24	definitions	definition	NOUN
ajfa-93	291	25	”	"	PUNCT
ajfa-93	291	26	,	,	PUNCT
ajfa-93	291	27	mcgraw	mcgraw	PROPN
ajfa-93	291	28	-	-	PUNCT
ajfa-93	291	29	hill	hill	PROPN
ajfa-93	291	30	companies	companies	PROPN
ajfa-93	291	31	inc	inc	PROPN
ajfa-93	291	32	.	.	PROPN
ajfa-93	291	33	,	,	PUNCT
ajfa-93	291	34	new	new	PROPN
ajfa-93	291	35	york	york	PROPN
ajfa-93	291	36	.	.	PUNCT
ajfa-93	292	1	sustainability	sustainability	NOUN
ajfa-93	292	2	,	,	PUNCT
ajfa-93	292	3	(	(	PUNCT
ajfa-93	292	4	2006	2006	NUM
ajfa-93	292	5	)	)	PUNCT
ajfa-93	292	6	,	,	PUNCT
ajfa-93	292	7	“	"	PUNCT
ajfa-93	292	8	from	from	ADP
ajfa-93	292	9	risk	risk	NOUN
ajfa-93	292	10	reduction	reduction	NOUN
ajfa-93	292	11	to	to	PART
ajfa-93	292	12	value	value	VERB
ajfa-93	292	13	creation	creation	NOUN
ajfa-93	292	14	:	:	PUNCT
ajfa-93	292	15	biannual	biannual	ADJ
ajfa-93	292	16	survey	survey	NOUN
ajfa-93	292	17	shows	show	VERB
ajfa-93	292	18	shift	shift	VERB
ajfa-93	292	19	in	in	ADP
ajfa-93	292	20	corporate	corporate	ADJ
ajfa-93	292	21	attitudes	attitude	NOUN
ajfa-93	292	22	to	to	ADP
ajfa-93	292	23	sustainability	sustainability	NOUN
ajfa-93	292	24	”	"	PUNCT
ajfa-93	292	25	9	9	NUM
ajfa-93	292	26	november	november	PROPN
ajfa-93	292	27	2006	2006	NUM
ajfa-93	292	28	accessed	access	VERB
ajfa-93	292	29	9/9/09	9/9/09	NOUN
ajfa-93	292	30	at	at	ADP
ajfa-93	292	31	http://www.horwarth.com.au/	http://www.horwarth.com.au/	PROPN
ajfa-93	292	32	http://www.complianceweek.com/s/documents/crsurvey.pdf	http://www.complianceweek.com/s/documents/crsurvey.pdf	NOUN
ajfa-93	292	33	http://papers.ssrn.com/sol3/cf_dev/absbyauth.cfm?per_id=1154144	http://papers.ssrn.com/sol3/cf_dev/absbyauth.cfm?per_id=1154144	NOUN
ajfa-93	292	34	http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1299761	http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1299761	ADJ
ajfa-93	292	35	asian	asian	ADJ
ajfa-93	292	36	journal	journal	NOUN
ajfa-93	292	37	of	of	ADP
ajfa-93	292	38	finance	finance	PROPN
ajfa-93	292	39	&	&	CCONJ
ajfa-93	292	40	accounting	accounting	PROPN
ajfa-93	292	41	issn	issn	PROPN
ajfa-93	292	42	1946	1946	NUM
ajfa-93	292	43	-	-	PUNCT
ajfa-93	292	44	052x	052x	NOUN
ajfa-93	292	45	200x	200x	NUM
ajfa-93	292	46	,	,	PUNCT
ajfa-93	292	47	vol	vol	NOUN
ajfa-93	292	48	.	.	PROPN
ajfa-93	292	49	1	1	NUM
ajfa-93	292	50	,	,	PUNCT
ajfa-93	292	51	no	no	INTJ
ajfa-93	292	52	.	.	NOUN
ajfa-93	292	53	1	1	NUM
ajfa-93	292	54	:	:	PUNCT
ajfa-93	292	55	e1	e1	VERB
ajfa-93	292	56	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-93	292	57	53	53	NUM
ajfa-93	292	58	http://www.sustainability.com/aboutsustainability/news_article.asp?id=862	http://www.sustainability.com/aboutsustainability/news_article.asp?id=862	NOUN
ajfa-93	292	59	commenting	comment	VERB
ajfa-93	292	60	on	on	ADP
ajfa-93	292	61	“	"	PUNCT
ajfa-93	292	62	tomorrow	tomorrow	NOUN
ajfa-93	292	63	's	's	PART
ajfa-93	292	64	value	value	NOUN
ajfa-93	292	65	”	"	PUNCT
ajfa-93	292	66	from	from	ADP
ajfa-93	292	67	www.sustainability.com	www.sustainability.com	PROPN
ajfa-93	292	68	tabachnick	tabachnick	PROPN
ajfa-93	292	69	,	,	PUNCT
ajfa-93	292	70	b.	b.	PROPN
ajfa-93	292	71	&	&	CCONJ
ajfa-93	292	72	fidell	fidell	PROPN
ajfa-93	292	73	,	,	PUNCT
ajfa-93	292	74	l.	l.	PROPN
ajfa-93	292	75	(	(	PUNCT
ajfa-93	292	76	1996	1996	NUM
ajfa-93	292	77	)	)	PUNCT
ajfa-93	292	78	,	,	PUNCT
ajfa-93	292	79	using	use	VERB
ajfa-93	292	80	multivariate	multivariate	NOUN
ajfa-93	292	81	statistics	statistic	NOUN
ajfa-93	292	82	3	3	NUM
ajfa-93	292	83	rd	rd	NOUN
ajfa-93	292	84	edition	edition	PROPN
ajfa-93	292	85	,	,	PUNCT
ajfa-93	292	86	harper	harper	PROPN
ajfa-93	292	87	collins	collins	PROPN
ajfa-93	292	88	college	college	NOUN
ajfa-93	292	89	publishers	publisher	NOUN
ajfa-93	292	90	,	,	PUNCT
ajfa-93	292	91	new	new	PROPN
ajfa-93	292	92	york	york	PROPN
ajfa-93	292	93	unerman	unerman	PROPN
ajfa-93	292	94	,	,	PUNCT
ajfa-93	292	95	jeffrey	jeffrey	PROPN
ajfa-93	292	96	(	(	PUNCT
ajfa-93	292	97	2008	2008	NUM
ajfa-93	292	98	)	)	PUNCT
ajfa-93	292	99	,	,	PUNCT
ajfa-93	292	100	“	"	PUNCT
ajfa-93	292	101	strategic	strategic	ADJ
ajfa-93	292	102	reputation	reputation	NOUN
ajfa-93	292	103	risk	risk	NOUN
ajfa-93	292	104	management	management	NOUN
ajfa-93	292	105	and	and	CCONJ
ajfa-93	292	106	corporate	corporate	ADJ
ajfa-93	292	107	social	social	ADJ
ajfa-93	292	108	responsibility	responsibility	NOUN
ajfa-93	292	109	reporting	report	VERB
ajfa-93	292	110	”	"	PUNCT
ajfa-93	292	111	,	,	PUNCT
ajfa-93	292	112	accounting	accounting	NOUN
ajfa-93	292	113	,	,	PUNCT
ajfa-93	292	114	auditing	auditing	NOUN
ajfa-93	292	115	and	and	CCONJ
ajfa-93	292	116	accountability	accountability	NOUN
ajfa-93	292	117	journal	journal	NOUN
ajfa-93	292	118	,	,	PUNCT
ajfa-93	292	119	vol.21	vol.21	NOUN
ajfa-93	292	120	,	,	PUNCT
ajfa-93	292	121	no	no	INTJ
ajfa-93	292	122	.	.	NOUN
ajfa-93	292	123	3	3	NUM
ajfa-93	292	124	,	,	PUNCT
ajfa-93	292	125	2008	2008	NUM
ajfa-93	292	126	,	,	PUNCT
ajfa-93	292	127	pp	pp	ADJ
ajfa-93	292	128	.	.	PUNCT
ajfa-93	293	1	362	362	NUM
ajfa-93	293	2	-	-	SYM
ajfa-93	293	3	364	364	NUM
ajfa-93	293	4	http://www.sustainability.com/aboutsustainability/news_article.asp?id=862	http://www.sustainability.com/aboutsustainability/news_article.asp?id=862	NOUN
ajfa-93	293	5	http://www.sustainability.com/	http://www.sustainability.com/	NOUN