id	sid	tid	token	lemma	pos
ajfa-9455	1	1	microsoft	microsoft	PROPN
ajfa-9455	1	2	word	word	NOUN
ajfa-9455	1	3	9455	9455	NUM
ajfa-9455	1	4	-	-	SYM
ajfa-9455	1	5	34614	34614	NUM
ajfa-9455	1	6	-	-	PUNCT
ajfa-9455	1	7	1	1	NUM
ajfa-9455	1	8	-	-	PUNCT
ajfa-9455	1	9	sm	sm	NOUN
ajfa-9455	1	10	-	-	PUNCT
ajfa-9455	1	11	writer2	writer2	VERB
ajfa-9455	1	12	-	-	ADJ
ajfa-9455	1	13	new	new	ADJ
ajfa-9455	1	14	asian	asian	ADJ
ajfa-9455	1	15	journal	journal	NOUN
ajfa-9455	1	16	of	of	ADP
ajfa-9455	1	17	finance	finance	PROPN
ajfa-9455	1	18	&	&	CCONJ
ajfa-9455	1	19	accounting	accounting	PROPN
ajfa-9455	1	20	issn	issn	PROPN
ajfa-9455	1	21	1946	1946	NUM
ajfa-9455	1	22	-	-	PUNCT
ajfa-9455	1	23	052x	052x	PROPN
ajfa-9455	1	24	2016	2016	NUM
ajfa-9455	1	25	,	,	PUNCT
ajfa-9455	1	26	vol	vol	NOUN
ajfa-9455	1	27	.	.	PROPN
ajfa-9455	1	28	8	8	NUM
ajfa-9455	1	29	,	,	PUNCT
ajfa-9455	1	30	no	no	INTJ
ajfa-9455	1	31	.	.	NOUN
ajfa-9455	1	32	1	1	NUM
ajfa-9455	1	33	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-9455	1	34	212	212	NUM
ajfa-9455	1	35	association	association	NOUN
ajfa-9455	1	36	between	between	ADP
ajfa-9455	1	37	degree	degree	NOUN
ajfa-9455	1	38	of	of	ADP
ajfa-9455	1	39	leverages	leverage	NOUN
ajfa-9455	1	40	and	and	CCONJ
ajfa-9455	1	41	firm	firm	ADJ
ajfa-9455	1	42	value	value	NOUN
ajfa-9455	1	43	pradeep	pradeep	PROPN
ajfa-9455	1	44	kumar	kumar	PROPN
ajfa-9455	1	45	gupta	gupta	PROPN
ajfa-9455	1	46	(	(	PUNCT
ajfa-9455	1	47	corresponding	corresponding	ADJ
ajfa-9455	1	48	author	author	NOUN
ajfa-9455	1	49	)	)	PUNCT
ajfa-9455	2	1	l	l	PROPN
ajfa-9455	2	2	m	m	PROPN
ajfa-9455	2	3	thapar	thapar	PROPN
ajfa-9455	2	4	school	school	NOUN
ajfa-9455	2	5	of	of	ADP
ajfa-9455	2	6	management	management	NOUN
ajfa-9455	2	7	thapar	thapar	PROPN
ajfa-9455	2	8	university	university	PROPN
ajfa-9455	2	9	derabassi	derabassi	ADJ
ajfa-9455	2	10	campus	campus	NOUN
ajfa-9455	2	11	e	e	NOUN
ajfa-9455	2	12	-	-	NOUN
ajfa-9455	2	13	mails	mail	NOUN
ajfa-9455	2	14	:	:	PUNCT
ajfa-9455	2	15	pradeep.gupta@thapar.edu	pradeep.gupta@thapar.edu	NOUN
ajfa-9455	2	16	;	;	PUNCT
ajfa-9455	2	17	gupta.pk1977@gmail.com	gupta.pk1977@gmail.com	PROPN
ajfa-9455	2	18	shailendra	shailendra	PROPN
ajfa-9455	2	19	kumar	kumar	PROPN
ajfa-9455	2	20	indian	indian	PROPN
ajfa-9455	2	21	institute	institute	PROPN
ajfa-9455	2	22	of	of	ADP
ajfa-9455	2	23	information	information	PROPN
ajfa-9455	2	24	technology	technology	PROPN
ajfa-9455	2	25	allahabad	allahabad	PROPN
ajfa-9455	2	26	(	(	PUNCT
ajfa-9455	2	27	u.p	u.p	PROPN
ajfa-9455	2	28	.	.	PROPN
ajfa-9455	2	29	)	)	PUNCT
ajfa-9455	2	30	,	,	PUNCT
ajfa-9455	2	31	india	india	PROPN
ajfa-9455	2	32	e	e	PROPN
ajfa-9455	2	33	-	-	PUNCT
ajfa-9455	2	34	mails	mail	NOUN
ajfa-9455	2	35	:	:	PUNCT
ajfa-9455	2	36	shailendrak@iiita.ac.in	shailendrak@iiita.ac.in	NOUN
ajfa-9455	2	37	;	;	PUNCT
ajfa-9455	2	38	blyshailendra@gmail.com	blyshailendra@gmail.com	X
ajfa-9455	2	39	piyushverma	piyushverma	PROPN
ajfa-9455	3	1	l	l	PROPN
ajfa-9455	3	2	m	m	PROPN
ajfa-9455	3	3	thapar	thapar	PROPN
ajfa-9455	3	4	school	school	NOUN
ajfa-9455	3	5	of	of	ADP
ajfa-9455	3	6	management	management	NOUN
ajfa-9455	3	7	thapar	thapar	PROPN
ajfa-9455	3	8	university	university	PROPN
ajfa-9455	3	9	derabassi	derabassi	ADJ
ajfa-9455	3	10	campus	campus	PROPN
ajfa-9455	3	11	derabassi	derabassi	PROPN
ajfa-9455	3	12	,	,	PUNCT
ajfa-9455	3	13	sas	sa	VERB
ajfa-9455	3	14	nagar	nagar	NOUN
ajfa-9455	3	15	(	(	PUNCT
ajfa-9455	3	16	punjab	punjab	ADJ
ajfa-9455	3	17	)	)	PUNCT
ajfa-9455	3	18	,	,	PUNCT
ajfa-9455	3	19	india	india	PROPN
ajfa-9455	3	20	e	e	PROPN
ajfa-9455	3	21	-	-	PUNCT
ajfa-9455	3	22	mails	mail	NOUN
ajfa-9455	3	23	:	:	PUNCT
ajfa-9455	3	24	pverma@thapar.edu	pverma@thapar.edu	NUM
ajfa-9455	3	25	;	;	PUNCT
ajfa-9455	3	26	piyushverma77@gmail.com	piyushverma77@gmail.com	PROPN
ajfa-9455	3	27	received	receive	VERB
ajfa-9455	3	28	:	:	PUNCT
ajfa-9455	3	29	april	april	PROPN
ajfa-9455	3	30	5	5	NUM
ajfa-9455	3	31	,	,	PUNCT
ajfa-9455	3	32	2016	2016	NUM
ajfa-9455	3	33	accepted	accept	VERB
ajfa-9455	3	34	:	:	PUNCT
ajfa-9455	3	35	may	may	AUX
ajfa-9455	3	36	22	22	NUM
ajfa-9455	3	37	,	,	PUNCT
ajfa-9455	3	38	2016	2016	NUM
ajfa-9455	3	39	published	publish	VERB
ajfa-9455	3	40	:	:	PUNCT
ajfa-9455	3	41	june	june	PROPN
ajfa-9455	3	42	1	1	NUM
ajfa-9455	3	43	,	,	PUNCT
ajfa-9455	3	44	2016	2016	NUM
ajfa-9455	3	45	doi:10.5296	doi:10.5296	NOUN
ajfa-9455	3	46	/	/	SYM
ajfa-9455	3	47	ajfa.v8i1.9455	ajfa.v8i1.9455	NUM
ajfa-9455	3	48	url	url	NOUN
ajfa-9455	3	49	:	:	PUNCT
ajfa-9455	3	50	http://dx.doi.org/10.5296/ajfa.v8i1.9455	http://dx.doi.org/10.5296/ajfa.v8i1.9455	X
ajfa-9455	4	1	abstract	abstract	NOUN
ajfa-9455	4	2	this	this	DET
ajfa-9455	4	3	study	study	NOUN
ajfa-9455	4	4	aims	aim	VERB
ajfa-9455	4	5	to	to	PART
ajfa-9455	4	6	empirically	empirically	ADV
ajfa-9455	4	7	investigate	investigate	VERB
ajfa-9455	4	8	the	the	DET
ajfa-9455	4	9	association	association	NOUN
ajfa-9455	4	10	between	between	ADP
ajfa-9455	4	11	degree	degree	NOUN
ajfa-9455	4	12	of	of	ADP
ajfa-9455	4	13	leverages	leverage	NOUN
ajfa-9455	4	14	,	,	PUNCT
ajfa-9455	4	15	operating	operating	NOUN
ajfa-9455	4	16	and	and	CCONJ
ajfa-9455	4	17	financial	financial	ADJ
ajfa-9455	4	18	,	,	PUNCT
ajfa-9455	4	19	and	and	CCONJ
ajfa-9455	4	20	firm	firm	ADJ
ajfa-9455	4	21	value	value	NOUN
ajfa-9455	4	22	in	in	ADP
ajfa-9455	4	23	the	the	DET
ajfa-9455	4	24	context	context	NOUN
ajfa-9455	4	25	of	of	ADP
ajfa-9455	4	26	india	india	PROPN
ajfa-9455	4	27	,	,	PUNCT
ajfa-9455	4	28	one	one	NUM
ajfa-9455	4	29	of	of	ADP
ajfa-9455	4	30	big	big	ADJ
ajfa-9455	4	31	ten	ten	NUM
ajfa-9455	4	32	emerging	emerge	VERB
ajfa-9455	4	33	markets	market	NOUN
ajfa-9455	4	34	(	(	PUNCT
ajfa-9455	4	35	garten	garten	NOUN
ajfa-9455	4	36	,	,	PUNCT
ajfa-9455	4	37	1997	1997	NUM
ajfa-9455	4	38	)	)	PUNCT
ajfa-9455	4	39	.	.	PUNCT
ajfa-9455	5	1	this	this	DET
ajfa-9455	5	2	study	study	NOUN
ajfa-9455	5	3	examines	examine	VERB
ajfa-9455	5	4	this	this	DET
ajfa-9455	5	5	association	association	NOUN
ajfa-9455	5	6	for	for	ADP
ajfa-9455	5	7	231	231	NUM
ajfa-9455	5	8	manufacturing	manufacturing	NOUN
ajfa-9455	5	9	firms	firm	NOUN
ajfa-9455	5	10	listed	list	VERB
ajfa-9455	5	11	in	in	ADP
ajfa-9455	5	12	national	national	ADJ
ajfa-9455	5	13	stock	stock	PROPN
ajfa-9455	5	14	exchange	exchange	PROPN
ajfa-9455	5	15	(	(	PUNCT
ajfa-9455	5	16	nse	nse	NOUN
ajfa-9455	5	17	)	)	PUNCT
ajfa-9455	5	18	in	in	ADP
ajfa-9455	5	19	india	india	PROPN
ajfa-9455	5	20	over	over	ADP
ajfa-9455	5	21	a	a	DET
ajfa-9455	5	22	period	period	NOUN
ajfa-9455	5	23	from	from	ADP
ajfa-9455	5	24	2001	2001	NUM
ajfa-9455	5	25	-	-	SYM
ajfa-9455	5	26	2002	2002	NUM
ajfa-9455	5	27	to	to	ADP
ajfa-9455	5	28	2010	2010	NUM
ajfa-9455	5	29	-	-	SYM
ajfa-9455	5	30	2011	2011	NUM
ajfa-9455	5	31	.	.	PUNCT
ajfa-9455	6	1	the	the	DET
ajfa-9455	6	2	independent	independent	ADJ
ajfa-9455	6	3	variables	variable	NOUN
ajfa-9455	6	4	,	,	PUNCT
ajfa-9455	6	5	degrees	degree	NOUN
ajfa-9455	6	6	of	of	ADP
ajfa-9455	6	7	operating	operating	NOUN
ajfa-9455	6	8	and	and	CCONJ
ajfa-9455	6	9	financial	financial	ADJ
ajfa-9455	6	10	leverage	leverage	NOUN
ajfa-9455	6	11	,	,	PUNCT
ajfa-9455	6	12	and	and	CCONJ
ajfa-9455	6	13	a	a	DET
ajfa-9455	6	14	market	market	NOUN
ajfa-9455	6	15	price	price	NOUN
ajfa-9455	6	16	-	-	PUNCT
ajfa-9455	6	17	based	base	VERB
ajfa-9455	6	18	dependent	dependent	ADJ
ajfa-9455	6	19	variable	variable	NOUN
ajfa-9455	6	20	,	,	PUNCT
ajfa-9455	6	21	called	call	VERB
ajfa-9455	6	22	price	price	NOUN
ajfa-9455	6	23	-	-	PUNCT
ajfa-9455	6	24	earnings	earning	NOUN
ajfa-9455	6	25	ratio	ratio	NOUN
ajfa-9455	6	26	as	as	ADP
ajfa-9455	6	27	a	a	DET
ajfa-9455	6	28	proxy	proxy	NOUN
ajfa-9455	6	29	of	of	ADP
ajfa-9455	6	30	firm	firm	ADJ
ajfa-9455	6	31	value	value	NOUN
ajfa-9455	6	32	,	,	PUNCT
ajfa-9455	6	33	are	be	AUX
ajfa-9455	6	34	taken	take	VERB
ajfa-9455	6	35	to	to	PART
ajfa-9455	6	36	examine	examine	VERB
ajfa-9455	6	37	this	this	DET
ajfa-9455	6	38	relationship	relationship	NOUN
ajfa-9455	6	39	by	by	ADP
ajfa-9455	6	40	using	use	VERB
ajfa-9455	6	41	standard	standard	ADJ
ajfa-9455	6	42	ordinary	ordinary	ADJ
ajfa-9455	6	43	least	least	ADJ
ajfa-9455	6	44	square	square	ADJ
ajfa-9455	6	45	regression	regression	NOUN
ajfa-9455	6	46	asian	asian	ADJ
ajfa-9455	6	47	journal	journal	NOUN
ajfa-9455	6	48	of	of	ADP
ajfa-9455	6	49	finance	finance	PROPN
ajfa-9455	6	50	&	&	CCONJ
ajfa-9455	6	51	accounting	accounting	PROPN
ajfa-9455	6	52	issn	issn	PROPN
ajfa-9455	6	53	1946	1946	NUM
ajfa-9455	6	54	-	-	PUNCT
ajfa-9455	6	55	052x	052x	PROPN
ajfa-9455	6	56	2016	2016	NUM
ajfa-9455	6	57	,	,	PUNCT
ajfa-9455	6	58	vol	vol	NOUN
ajfa-9455	6	59	.	.	PROPN
ajfa-9455	6	60	8	8	NUM
ajfa-9455	6	61	,	,	PUNCT
ajfa-9455	6	62	no	no	INTJ
ajfa-9455	6	63	.	.	NOUN
ajfa-9455	6	64	1	1	NUM
ajfa-9455	6	65	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-9455	6	66	213	213	NUM
ajfa-9455	6	67	models	model	NOUN
ajfa-9455	6	68	at	at	ADP
ajfa-9455	6	69	the	the	DET
ajfa-9455	6	70	levels	level	NOUN
ajfa-9455	6	71	of	of	ADP
ajfa-9455	6	72	individual	individual	ADJ
ajfa-9455	6	73	firm	firm	NOUN
ajfa-9455	6	74	and	and	CCONJ
ajfa-9455	6	75	portfolio	portfolio	NOUN
ajfa-9455	6	76	of	of	ADP
ajfa-9455	6	77	firms	firm	NOUN
ajfa-9455	6	78	.	.	PUNCT
ajfa-9455	7	1	the	the	DET
ajfa-9455	7	2	findings	finding	NOUN
ajfa-9455	7	3	of	of	ADP
ajfa-9455	7	4	this	this	DET
ajfa-9455	7	5	study	study	NOUN
ajfa-9455	7	6	show	show	VERB
ajfa-9455	7	7	a	a	DET
ajfa-9455	7	8	statistically	statistically	ADV
ajfa-9455	7	9	significant	significant	ADJ
ajfa-9455	7	10	negative	negative	ADJ
ajfa-9455	7	11	relationship	relationship	NOUN
ajfa-9455	7	12	between	between	ADP
ajfa-9455	7	13	firm	firm	ADJ
ajfa-9455	7	14	value	value	NOUN
ajfa-9455	7	15	and	and	CCONJ
ajfa-9455	7	16	degree	degree	NOUN
ajfa-9455	7	17	of	of	ADP
ajfa-9455	7	18	operating	operate	VERB
ajfa-9455	7	19	leverage	leverage	NOUN
ajfa-9455	7	20	and	and	CCONJ
ajfa-9455	7	21	a	a	DET
ajfa-9455	7	22	statistically	statistically	ADV
ajfa-9455	7	23	insignificant	insignificant	ADJ
ajfa-9455	7	24	relationship	relationship	NOUN
ajfa-9455	7	25	between	between	ADP
ajfa-9455	7	26	firm	firm	ADJ
ajfa-9455	7	27	value	value	NOUN
ajfa-9455	7	28	and	and	CCONJ
ajfa-9455	7	29	degree	degree	NOUN
ajfa-9455	7	30	of	of	ADP
ajfa-9455	7	31	financial	financial	ADJ
ajfa-9455	7	32	leverage	leverage	NOUN
ajfa-9455	7	33	both	both	CCONJ
ajfa-9455	7	34	at	at	ADP
ajfa-9455	7	35	the	the	DET
ajfa-9455	7	36	levels	level	NOUN
ajfa-9455	7	37	of	of	ADP
ajfa-9455	7	38	individual	individual	ADJ
ajfa-9455	7	39	firm	firm	NOUN
ajfa-9455	7	40	and	and	CCONJ
ajfa-9455	7	41	portfolio	portfolio	NOUN
ajfa-9455	7	42	of	of	ADP
ajfa-9455	7	43	firms	firm	NOUN
ajfa-9455	7	44	.	.	PUNCT
ajfa-9455	8	1	using	use	VERB
ajfa-9455	8	2	the	the	DET
ajfa-9455	8	3	data	datum	NOUN
ajfa-9455	8	4	from	from	ADP
ajfa-9455	8	5	a	a	DET
ajfa-9455	8	6	country	country	NOUN
ajfa-9455	8	7	like	like	ADP
ajfa-9455	8	8	india	india	PROPN
ajfa-9455	8	9	,	,	PUNCT
ajfa-9455	8	10	one	one	NUM
ajfa-9455	8	11	of	of	ADP
ajfa-9455	8	12	fastest	fast	ADJ
ajfa-9455	8	13	growing	grow	VERB
ajfa-9455	8	14	emerging	emerge	VERB
ajfa-9455	8	15	markets	market	NOUN
ajfa-9455	8	16	in	in	ADP
ajfa-9455	8	17	the	the	DET
ajfa-9455	8	18	world	world	NOUN
ajfa-9455	8	19	,	,	PUNCT
ajfa-9455	8	20	this	this	DET
ajfa-9455	8	21	study	study	NOUN
ajfa-9455	8	22	provides	provide	VERB
ajfa-9455	8	23	an	an	DET
ajfa-9455	8	24	important	important	ADJ
ajfa-9455	8	25	insight	insight	NOUN
ajfa-9455	8	26	on	on	ADP
ajfa-9455	8	27	the	the	DET
ajfa-9455	8	28	effect	effect	NOUN
ajfa-9455	8	29	of	of	ADP
ajfa-9455	8	30	leverages	leverage	NOUN
ajfa-9455	8	31	on	on	ADP
ajfa-9455	8	32	the	the	DET
ajfa-9455	8	33	firm	firm	ADJ
ajfa-9455	8	34	value	value	NOUN
ajfa-9455	8	35	,	,	PUNCT
ajfa-9455	8	36	the	the	DET
ajfa-9455	8	37	association	association	NOUN
ajfa-9455	8	38	between	between	ADP
ajfa-9455	8	39	independent	independent	ADJ
ajfa-9455	8	40	accounting	accounting	NOUN
ajfa-9455	8	41	variables	variable	NOUN
ajfa-9455	8	42	and	and	CCONJ
ajfa-9455	8	43	stock	stock	NOUN
ajfa-9455	8	44	price	price	NOUN
ajfa-9455	8	45	-	-	PUNCT
ajfa-9455	8	46	based	base	VERB
ajfa-9455	8	47	dependent	dependent	ADJ
ajfa-9455	8	48	variable	variable	NOUN
ajfa-9455	8	49	,	,	PUNCT
ajfa-9455	8	50	to	to	ADP
ajfa-9455	8	51	the	the	DET
ajfa-9455	8	52	practitioners	practitioner	NOUN
ajfa-9455	8	53	,	,	PUNCT
ajfa-9455	8	54	the	the	DET
ajfa-9455	8	55	scholars	scholar	NOUN
ajfa-9455	8	56	and	and	CCONJ
ajfa-9455	8	57	the	the	DET
ajfa-9455	8	58	finance	finance	NOUN
ajfa-9455	8	59	managers	manager	NOUN
ajfa-9455	8	60	.	.	PUNCT
ajfa-9455	9	1	keywords	keyword	NOUN
ajfa-9455	9	2	:	:	PUNCT
ajfa-9455	9	3	portfolio	portfolio	NOUN
ajfa-9455	9	4	;	;	PUNCT
ajfa-9455	9	5	operating	operate	VERB
ajfa-9455	9	6	leverage	leverage	NOUN
ajfa-9455	9	7	,	,	PUNCT
ajfa-9455	9	8	financial	financial	ADJ
ajfa-9455	9	9	leverage	leverage	NOUN
ajfa-9455	9	10	,	,	PUNCT
ajfa-9455	9	11	price	price	NOUN
ajfa-9455	9	12	-	-	PUNCT
ajfa-9455	9	13	earnings	earning	NOUN
ajfa-9455	9	14	,	,	PUNCT
ajfa-9455	9	15	firm	firm	ADJ
ajfa-9455	9	16	value	value	NOUN
ajfa-9455	9	17	jel	jel	PROPN
ajfa-9455	9	18	classification	classification	NOUN
ajfa-9455	9	19	:	:	PUNCT
ajfa-9455	9	20	g11	g11	PROPN
ajfa-9455	9	21	;	;	PUNCT
ajfa-9455	9	22	g30	g30	PROPN
ajfa-9455	9	23	;	;	PUNCT
ajfa-9455	9	24	g32	g32	NOUN
ajfa-9455	9	25	asian	asian	ADJ
ajfa-9455	9	26	journal	journal	PROPN
ajfa-9455	9	27	of	of	ADP
ajfa-9455	9	28	finance	finance	PROPN
ajfa-9455	9	29	&	&	CCONJ
ajfa-9455	9	30	accounting	accounting	PROPN
ajfa-9455	9	31	issn	issn	PROPN
ajfa-9455	9	32	1946	1946	NUM
ajfa-9455	9	33	-	-	PUNCT
ajfa-9455	9	34	052x	052x	PROPN
ajfa-9455	9	35	2016	2016	NUM
ajfa-9455	9	36	,	,	PUNCT
ajfa-9455	9	37	vol	vol	NOUN
ajfa-9455	9	38	.	.	PROPN
ajfa-9455	9	39	8	8	NUM
ajfa-9455	9	40	,	,	PUNCT
ajfa-9455	9	41	no	no	INTJ
ajfa-9455	9	42	.	.	NOUN
ajfa-9455	9	43	1	1	NUM
ajfa-9455	9	44	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-9455	9	45	214	214	NUM
ajfa-9455	9	46	1	1	NUM
ajfa-9455	9	47	.	.	PUNCT
ajfa-9455	9	48	introduction	introduction	NOUN
ajfa-9455	9	49	the	the	DET
ajfa-9455	9	50	appropriate	appropriate	ADJ
ajfa-9455	9	51	and	and	CCONJ
ajfa-9455	9	52	reliable	reliable	ADJ
ajfa-9455	9	53	accounting	accounting	NOUN
ajfa-9455	9	54	information	information	NOUN
ajfa-9455	9	55	in	in	ADP
ajfa-9455	9	56	the	the	DET
ajfa-9455	9	57	financial	financial	ADJ
ajfa-9455	9	58	statements	statement	NOUN
ajfa-9455	9	59	are	be	AUX
ajfa-9455	9	60	required	require	VERB
ajfa-9455	9	61	by	by	ADP
ajfa-9455	9	62	the	the	DET
ajfa-9455	9	63	active	active	ADJ
ajfa-9455	9	64	investors	investor	NOUN
ajfa-9455	9	65	to	to	PART
ajfa-9455	9	66	analyze	analyze	VERB
ajfa-9455	9	67	the	the	DET
ajfa-9455	9	68	economic	economic	ADJ
ajfa-9455	9	69	performance	performance	NOUN
ajfa-9455	9	70	and	and	CCONJ
ajfa-9455	9	71	value	value	NOUN
ajfa-9455	9	72	of	of	ADP
ajfa-9455	9	73	a	a	DET
ajfa-9455	9	74	firm	firm	NOUN
ajfa-9455	9	75	.	.	PUNCT
ajfa-9455	10	1	the	the	DET
ajfa-9455	10	2	usefulness	usefulness	NOUN
ajfa-9455	10	3	of	of	ADP
ajfa-9455	10	4	financial	financial	ADJ
ajfa-9455	10	5	information	information	NOUN
ajfa-9455	10	6	to	to	ADP
ajfa-9455	10	7	investors	investor	NOUN
ajfa-9455	10	8	was	be	AUX
ajfa-9455	10	9	assessed	assess	VERB
ajfa-9455	10	10	by	by	ADP
ajfa-9455	10	11	the	the	DET
ajfa-9455	10	12	extensive	extensive	ADJ
ajfa-9455	10	13	studies	study	NOUN
ajfa-9455	10	14	on	on	ADP
ajfa-9455	10	15	the	the	DET
ajfa-9455	10	16	value	value	NOUN
ajfa-9455	10	17	relevance	relevance	NOUN
ajfa-9455	10	18	of	of	ADP
ajfa-9455	10	19	accounting	accounting	NOUN
ajfa-9455	10	20	data	datum	NOUN
ajfa-9455	10	21	(	(	PUNCT
ajfa-9455	10	22	papadaki	papadaki	NOUN
ajfa-9455	10	23	&	&	CCONJ
ajfa-9455	10	24	siougle	siougle	NOUN
ajfa-9455	10	25	,	,	PUNCT
ajfa-9455	10	26	2007	2007	NUM
ajfa-9455	10	27	)	)	PUNCT
ajfa-9455	10	28	.	.	PUNCT
ajfa-9455	11	1	various	various	ADJ
ajfa-9455	11	2	empirical	empirical	ADJ
ajfa-9455	11	3	examinations	examination	NOUN
ajfa-9455	11	4	and	and	CCONJ
ajfa-9455	11	5	theoretical	theoretical	ADJ
ajfa-9455	11	6	models	model	NOUN
ajfa-9455	11	7	have	have	AUX
ajfa-9455	11	8	investigated	investigate	VERB
ajfa-9455	11	9	the	the	DET
ajfa-9455	11	10	real	real	ADJ
ajfa-9455	11	11	determinants	determinant	NOUN
ajfa-9455	11	12	of	of	ADP
ajfa-9455	11	13	stock	stock	NOUN
ajfa-9455	11	14	price	price	NOUN
ajfa-9455	11	15	.	.	PUNCT
ajfa-9455	12	1	ball	ball	NOUN
ajfa-9455	12	2	and	and	CCONJ
ajfa-9455	12	3	brown	brown	ADJ
ajfa-9455	12	4	(	(	PUNCT
ajfa-9455	12	5	1968	1968	NUM
ajfa-9455	12	6	)	)	PUNCT
ajfa-9455	12	7	investigated	investigate	VERB
ajfa-9455	12	8	the	the	DET
ajfa-9455	12	9	relationship	relationship	NOUN
ajfa-9455	12	10	between	between	ADP
ajfa-9455	12	11	a	a	DET
ajfa-9455	12	12	stock	stock	NOUN
ajfa-9455	12	13	price	price	NOUN
ajfa-9455	12	14	-	-	PUNCT
ajfa-9455	12	15	based	base	VERB
ajfa-9455	12	16	dependent	dependent	ADJ
ajfa-9455	12	17	variable	variable	NOUN
ajfa-9455	12	18	and	and	CCONJ
ajfa-9455	12	19	a	a	DET
ajfa-9455	12	20	set	set	NOUN
ajfa-9455	12	21	of	of	ADP
ajfa-9455	12	22	accounting	accounting	NOUN
ajfa-9455	12	23	variables	variable	NOUN
ajfa-9455	12	24	often	often	ADV
ajfa-9455	12	25	viewed	view	VERB
ajfa-9455	12	26	as	as	ADP
ajfa-9455	12	27	capital	capital	NOUN
ajfa-9455	12	28	market	market	NOUN
ajfa-9455	12	29	-	-	PUNCT
ajfa-9455	12	30	based	base	VERB
ajfa-9455	12	31	accounting	accounting	NOUN
ajfa-9455	12	32	research	research	NOUN
ajfa-9455	12	33	(	(	PUNCT
ajfa-9455	12	34	cmbar	cmbar	NOUN
ajfa-9455	12	35	)	)	PUNCT
ajfa-9455	12	36	.	.	PUNCT
ajfa-9455	13	1	habib	habib	PROPN
ajfa-9455	13	2	(	(	PUNCT
ajfa-9455	13	3	2004	2004	NUM
ajfa-9455	13	4	)	)	PUNCT
ajfa-9455	13	5	investigates	investigate	VERB
ajfa-9455	13	6	the	the	DET
ajfa-9455	13	7	quality	quality	NOUN
ajfa-9455	13	8	of	of	ADP
ajfa-9455	13	9	accounting	accounting	NOUN
ajfa-9455	13	10	information	information	NOUN
ajfa-9455	13	11	with	with	ADP
ajfa-9455	13	12	respect	respect	NOUN
ajfa-9455	13	13	to	to	ADP
ajfa-9455	13	14	stock	stock	NOUN
ajfa-9455	13	15	price	price	NOUN
ajfa-9455	13	16	.	.	PUNCT
ajfa-9455	14	1	the	the	DET
ajfa-9455	14	2	financial	financial	ADJ
ajfa-9455	14	3	reports	report	NOUN
ajfa-9455	14	4	are	be	AUX
ajfa-9455	14	5	unable	unable	ADJ
ajfa-9455	14	6	to	to	PART
ajfa-9455	14	7	fulfill	fulfill	VERB
ajfa-9455	14	8	one	one	NUM
ajfa-9455	14	9	of	of	ADP
ajfa-9455	14	10	their	their	PRON
ajfa-9455	14	11	primary	primary	ADJ
ajfa-9455	14	12	objectives	objective	NOUN
ajfa-9455	14	13	if	if	SCONJ
ajfa-9455	14	14	no	no	DET
ajfa-9455	14	15	association	association	NOUN
ajfa-9455	14	16	between	between	ADP
ajfa-9455	14	17	accounting	accounting	NOUN
ajfa-9455	14	18	information	information	NOUN
ajfa-9455	14	19	and	and	CCONJ
ajfa-9455	14	20	the	the	DET
ajfa-9455	14	21	market	market	NOUN
ajfa-9455	14	22	value	value	NOUN
ajfa-9455	14	23	of	of	ADP
ajfa-9455	14	24	the	the	DET
ajfa-9455	14	25	company	company	NOUN
ajfa-9455	14	26	is	be	AUX
ajfa-9455	14	27	found	find	VERB
ajfa-9455	14	28	(	(	PUNCT
ajfa-9455	14	29	beisland	beisland	ADJ
ajfa-9455	14	30	,	,	PUNCT
ajfa-9455	14	31	2009	2009	NUM
ajfa-9455	14	32	)	)	PUNCT
ajfa-9455	14	33	.	.	PUNCT
ajfa-9455	15	1	therefore	therefore	ADV
ajfa-9455	15	2	,	,	PUNCT
ajfa-9455	15	3	there	there	PRON
ajfa-9455	15	4	is	be	VERB
ajfa-9455	15	5	always	always	ADV
ajfa-9455	15	6	of	of	ADP
ajfa-9455	15	7	great	great	ADJ
ajfa-9455	15	8	interest	interest	NOUN
ajfa-9455	15	9	for	for	ADP
ajfa-9455	15	10	the	the	DET
ajfa-9455	15	11	scholars	scholar	NOUN
ajfa-9455	15	12	and	and	CCONJ
ajfa-9455	15	13	the	the	DET
ajfa-9455	15	14	practitioners	practitioner	NOUN
ajfa-9455	15	15	to	to	PART
ajfa-9455	15	16	enquire	enquire	VERB
ajfa-9455	15	17	about	about	ADP
ajfa-9455	15	18	the	the	DET
ajfa-9455	15	19	impact	impact	NOUN
ajfa-9455	15	20	of	of	ADP
ajfa-9455	15	21	accounting	accounting	NOUN
ajfa-9455	15	22	numbers	number	NOUN
ajfa-9455	15	23	on	on	ADP
ajfa-9455	15	24	the	the	DET
ajfa-9455	15	25	stock	stock	NOUN
ajfa-9455	15	26	price	price	NOUN
ajfa-9455	15	27	and	and	CCONJ
ajfa-9455	15	28	this	this	DET
ajfa-9455	15	29	relationship	relationship	NOUN
ajfa-9455	15	30	is	be	AUX
ajfa-9455	15	31	extensively	extensively	ADV
ajfa-9455	15	32	explored	explore	VERB
ajfa-9455	15	33	in	in	ADP
ajfa-9455	15	34	the	the	DET
ajfa-9455	15	35	literature	literature	NOUN
ajfa-9455	15	36	of	of	ADP
ajfa-9455	15	37	value	value	NOUN
ajfa-9455	15	38	relevance	relevance	NOUN
ajfa-9455	15	39	research	research	NOUN
ajfa-9455	15	40	.	.	PUNCT
ajfa-9455	16	1	an	an	DET
ajfa-9455	16	2	accounting	accounting	NOUN
ajfa-9455	16	3	number	number	NOUN
ajfa-9455	16	4	can	can	AUX
ajfa-9455	16	5	be	be	AUX
ajfa-9455	16	6	considered	consider	VERB
ajfa-9455	16	7	to	to	PART
ajfa-9455	16	8	be	be	AUX
ajfa-9455	16	9	value	value	NOUN
ajfa-9455	16	10	relevant	relevant	ADJ
ajfa-9455	16	11	if	if	SCONJ
ajfa-9455	16	12	it	it	PRON
ajfa-9455	16	13	is	be	AUX
ajfa-9455	16	14	helpful	helpful	ADJ
ajfa-9455	16	15	in	in	ADP
ajfa-9455	16	16	explaining	explain	VERB
ajfa-9455	16	17	value	value	NOUN
ajfa-9455	16	18	or	or	CCONJ
ajfa-9455	16	19	returns	return	NOUN
ajfa-9455	16	20	over	over	ADP
ajfa-9455	16	21	long	long	ADJ
ajfa-9455	16	22	windows	window	NOUN
ajfa-9455	16	23	(	(	PUNCT
ajfa-9455	16	24	holthausen	holthausen	PROPN
ajfa-9455	16	25	&	&	CCONJ
ajfa-9455	16	26	watts	watts	PROPN
ajfa-9455	16	27	,	,	PUNCT
ajfa-9455	16	28	2001	2001	NUM
ajfa-9455	16	29	)	)	PUNCT
ajfa-9455	16	30	.	.	PUNCT
ajfa-9455	17	1	an	an	DET
ajfa-9455	17	2	accounting	accounting	NOUN
ajfa-9455	17	3	amount	amount	NOUN
ajfa-9455	17	4	will	will	AUX
ajfa-9455	17	5	be	be	AUX
ajfa-9455	17	6	value	value	NOUN
ajfa-9455	17	7	relevant	relevant	ADJ
ajfa-9455	17	8	only	only	ADV
ajfa-9455	17	9	if	if	SCONJ
ajfa-9455	17	10	the	the	DET
ajfa-9455	17	11	amount	amount	NOUN
ajfa-9455	17	12	reflects	reflect	VERB
ajfa-9455	17	13	relevant	relevant	ADJ
ajfa-9455	17	14	and	and	CCONJ
ajfa-9455	17	15	reliable	reliable	ADJ
ajfa-9455	17	16	information	information	NOUN
ajfa-9455	17	17	to	to	ADP
ajfa-9455	17	18	investors	investor	NOUN
ajfa-9455	17	19	in	in	ADP
ajfa-9455	17	20	valuing	value	VERB
ajfa-9455	17	21	the	the	DET
ajfa-9455	17	22	firms	firm	NOUN
ajfa-9455	17	23	(	(	PUNCT
ajfa-9455	17	24	barth	barth	NOUN
ajfa-9455	17	25	et	et	PROPN
ajfa-9455	17	26	al	al	PROPN
ajfa-9455	17	27	.	.	PROPN
ajfa-9455	17	28	,	,	PUNCT
ajfa-9455	17	29	2001	2001	NUM
ajfa-9455	17	30	)	)	PUNCT
ajfa-9455	17	31	.	.	PUNCT
ajfa-9455	18	1	francis	francis	PROPN
ajfa-9455	18	2	and	and	CCONJ
ajfa-9455	18	3	schipper	schipper	PROPN
ajfa-9455	18	4	(	(	PUNCT
ajfa-9455	18	5	1999	1999	NUM
ajfa-9455	18	6	)	)	PUNCT
ajfa-9455	18	7	reported	report	VERB
ajfa-9455	18	8	that	that	SCONJ
ajfa-9455	18	9	a	a	DET
ajfa-9455	18	10	statistical	statistical	ADJ
ajfa-9455	18	11	relationship	relationship	NOUN
ajfa-9455	18	12	between	between	ADP
ajfa-9455	18	13	financial	financial	ADJ
ajfa-9455	18	14	information	information	NOUN
ajfa-9455	18	15	and	and	CCONJ
ajfa-9455	18	16	stock	stock	NOUN
ajfa-9455	18	17	prices	price	NOUN
ajfa-9455	18	18	or	or	CCONJ
ajfa-9455	18	19	returns	return	NOUN
ajfa-9455	18	20	is	be	AUX
ajfa-9455	18	21	to	to	PART
ajfa-9455	18	22	be	be	AUX
ajfa-9455	18	23	established	establish	VERB
ajfa-9455	18	24	for	for	ADP
ajfa-9455	18	25	measuring	measure	VERB
ajfa-9455	18	26	the	the	DET
ajfa-9455	18	27	value	value	NOUN
ajfa-9455	18	28	relevance	relevance	NOUN
ajfa-9455	18	29	.	.	PUNCT
ajfa-9455	19	1	there	there	PRON
ajfa-9455	19	2	is	be	VERB
ajfa-9455	19	3	a	a	DET
ajfa-9455	19	4	positive	positive	ADJ
ajfa-9455	19	5	relationship	relationship	NOUN
ajfa-9455	19	6	between	between	ADP
ajfa-9455	19	7	stock	stock	NOUN
ajfa-9455	19	8	returns	return	NOUN
ajfa-9455	19	9	and	and	CCONJ
ajfa-9455	19	10	debt	debt	NOUN
ajfa-9455	19	11	to	to	ADP
ajfa-9455	19	12	equity	equity	NOUN
ajfa-9455	19	13	ratio	ratio	NOUN
ajfa-9455	19	14	of	of	ADP
ajfa-9455	19	15	the	the	DET
ajfa-9455	19	16	firms	firm	NOUN
ajfa-9455	19	17	(	(	PUNCT
ajfa-9455	19	18	bhandari	bhandari	NOUN
ajfa-9455	19	19	,	,	PUNCT
ajfa-9455	19	20	1988	1988	NUM
ajfa-9455	19	21	)	)	PUNCT
ajfa-9455	19	22	.	.	PUNCT
ajfa-9455	20	1	thus	thus	ADV
ajfa-9455	20	2	,	,	PUNCT
ajfa-9455	20	3	debt	debt	NOUN
ajfa-9455	20	4	to	to	ADP
ajfa-9455	20	5	equity	equity	NOUN
ajfa-9455	20	6	ratio	ratio	NOUN
ajfa-9455	20	7	is	be	AUX
ajfa-9455	20	8	considered	consider	VERB
ajfa-9455	20	9	to	to	PART
ajfa-9455	20	10	be	be	AUX
ajfa-9455	20	11	value	value	NOUN
ajfa-9455	20	12	relevant	relevant	ADJ
ajfa-9455	20	13	.	.	PUNCT
ajfa-9455	21	1	dimitrov	dimitrov	PROPN
ajfa-9455	21	2	and	and	CCONJ
ajfa-9455	21	3	jain	jain	PROPN
ajfa-9455	21	4	(	(	PUNCT
ajfa-9455	21	5	2008	2008	NUM
ajfa-9455	21	6	)	)	PUNCT
ajfa-9455	21	7	find	find	VERB
ajfa-9455	21	8	that	that	SCONJ
ajfa-9455	21	9	annual	annual	ADJ
ajfa-9455	21	10	stock	stock	NOUN
ajfa-9455	21	11	returns	return	NOUN
ajfa-9455	21	12	are	be	AUX
ajfa-9455	21	13	significantly	significantly	ADV
ajfa-9455	21	14	associated	associate	VERB
ajfa-9455	21	15	with	with	ADP
ajfa-9455	21	16	contemporaneous	contemporaneous	ADJ
ajfa-9455	21	17	changes	change	NOUN
ajfa-9455	21	18	in	in	ADP
ajfa-9455	21	19	financial	financial	ADJ
ajfa-9455	21	20	leverage	leverage	NOUN
ajfa-9455	21	21	and	and	CCONJ
ajfa-9455	21	22	,	,	PUNCT
ajfa-9455	21	23	hence	hence	ADV
ajfa-9455	21	24	,	,	PUNCT
ajfa-9455	21	25	changes	change	NOUN
ajfa-9455	21	26	in	in	ADP
ajfa-9455	21	27	financial	financial	ADJ
ajfa-9455	21	28	leverage	leverage	NOUN
ajfa-9455	21	29	are	be	AUX
ajfa-9455	21	30	value	value	NOUN
ajfa-9455	21	31	relevant	relevant	ADJ
ajfa-9455	21	32	.	.	PUNCT
ajfa-9455	22	1	habib	habib	PROPN
ajfa-9455	22	2	and	and	CCONJ
ajfa-9455	22	3	azim	azim	PROPN
ajfa-9455	22	4	(	(	PUNCT
ajfa-9455	22	5	2008	2008	NUM
ajfa-9455	22	6	)	)	PUNCT
ajfa-9455	22	7	find	find	VERB
ajfa-9455	22	8	that	that	SCONJ
ajfa-9455	22	9	firm	firm	ADJ
ajfa-9455	22	10	-	-	PUNCT
ajfa-9455	22	11	specific	specific	ADJ
ajfa-9455	22	12	economic	economic	ADJ
ajfa-9455	22	13	variables	variable	NOUN
ajfa-9455	22	14	are	be	AUX
ajfa-9455	22	15	important	important	ADJ
ajfa-9455	22	16	determinants	determinant	NOUN
ajfa-9455	22	17	of	of	ADP
ajfa-9455	22	18	the	the	DET
ajfa-9455	22	19	value	value	NOUN
ajfa-9455	22	20	-	-	PUNCT
ajfa-9455	22	21	relevance	relevance	NOUN
ajfa-9455	22	22	of	of	ADP
ajfa-9455	22	23	accounting	accounting	NOUN
ajfa-9455	22	24	information	information	NOUN
ajfa-9455	22	25	.	.	PUNCT
ajfa-9455	23	1	thus	thus	ADV
ajfa-9455	23	2	,	,	PUNCT
ajfa-9455	23	3	this	this	DET
ajfa-9455	23	4	study	study	NOUN
ajfa-9455	23	5	is	be	AUX
ajfa-9455	23	6	an	an	DET
ajfa-9455	23	7	attempt	attempt	NOUN
ajfa-9455	23	8	to	to	PART
ajfa-9455	23	9	explore	explore	VERB
ajfa-9455	23	10	whether	whether	SCONJ
ajfa-9455	23	11	the	the	DET
ajfa-9455	23	12	market	market	NOUN
ajfa-9455	23	13	values	value	VERB
ajfa-9455	23	14	the	the	DET
ajfa-9455	23	15	accounting	accounting	NOUN
ajfa-9455	23	16	numbers	number	NOUN
ajfa-9455	23	17	of	of	ADP
ajfa-9455	23	18	the	the	DET
ajfa-9455	23	19	firms	firm	NOUN
ajfa-9455	23	20	.	.	PUNCT
ajfa-9455	24	1	this	this	DET
ajfa-9455	24	2	study	study	NOUN
ajfa-9455	24	3	takes	take	VERB
ajfa-9455	24	4	two	two	NUM
ajfa-9455	24	5	accounting	accounting	NOUN
ajfa-9455	24	6	variables	variable	NOUN
ajfa-9455	24	7	,	,	PUNCT
ajfa-9455	24	8	degrees	degree	NOUN
ajfa-9455	24	9	of	of	ADP
ajfa-9455	24	10	operating	operating	NOUN
ajfa-9455	24	11	and	and	CCONJ
ajfa-9455	24	12	financial	financial	ADJ
ajfa-9455	24	13	leverage	leverage	NOUN
ajfa-9455	24	14	,	,	PUNCT
ajfa-9455	24	15	to	to	PART
ajfa-9455	24	16	investigate	investigate	VERB
ajfa-9455	24	17	their	their	PRON
ajfa-9455	24	18	impact	impact	NOUN
ajfa-9455	24	19	on	on	ADP
ajfa-9455	24	20	value	value	NOUN
ajfa-9455	24	21	of	of	ADP
ajfa-9455	24	22	the	the	DET
ajfa-9455	24	23	firm	firm	NOUN
ajfa-9455	24	24	represented	represent	VERB
ajfa-9455	24	25	by	by	ADP
ajfa-9455	24	26	one	one	NUM
ajfa-9455	24	27	of	of	ADP
ajfa-9455	24	28	the	the	DET
ajfa-9455	24	29	market	market	NOUN
ajfa-9455	24	30	-	-	PUNCT
ajfa-9455	24	31	based	base	VERB
ajfa-9455	24	32	performance	performance	NOUN
ajfa-9455	24	33	indicators	indicator	NOUN
ajfa-9455	24	34	,	,	PUNCT
ajfa-9455	24	35	called	call	VERB
ajfa-9455	24	36	price	price	NOUN
ajfa-9455	24	37	-	-	PUNCT
ajfa-9455	24	38	earnings	earning	NOUN
ajfa-9455	24	39	(	(	PUNCT
ajfa-9455	24	40	hereafter	hereafter	ADV
ajfa-9455	24	41	,	,	PUNCT
ajfa-9455	24	42	pe	pe	ADJ
ajfa-9455	24	43	)	)	PUNCT
ajfa-9455	24	44	ratio	ratio	NOUN
ajfa-9455	24	45	.	.	PUNCT
ajfa-9455	25	1	moreover	moreover	ADV
ajfa-9455	25	2	,	,	PUNCT
ajfa-9455	25	3	the	the	DET
ajfa-9455	25	4	leverage	leverage	NOUN
ajfa-9455	25	5	becomes	become	VERB
ajfa-9455	25	6	an	an	DET
ajfa-9455	25	7	important	important	ADJ
ajfa-9455	25	8	factor	factor	NOUN
ajfa-9455	25	9	to	to	PART
ajfa-9455	25	10	design	design	VERB
ajfa-9455	25	11	the	the	DET
ajfa-9455	25	12	structures	structure	NOUN
ajfa-9455	25	13	of	of	ADP
ajfa-9455	25	14	cost	cost	NOUN
ajfa-9455	25	15	and	and	CCONJ
ajfa-9455	25	16	capital	capital	NOUN
ajfa-9455	25	17	to	to	PART
ajfa-9455	25	18	entail	entail	VERB
ajfa-9455	25	19	reducing	reduce	VERB
ajfa-9455	25	20	the	the	DET
ajfa-9455	25	21	overall	overall	ADJ
ajfa-9455	25	22	cost	cost	NOUN
ajfa-9455	25	23	of	of	ADP
ajfa-9455	25	24	operations	operation	NOUN
ajfa-9455	25	25	including	include	VERB
ajfa-9455	25	26	financing	finance	VERB
ajfa-9455	25	27	costs	cost	NOUN
ajfa-9455	25	28	to	to	ADP
ajfa-9455	25	29	attaining	attain	VERB
ajfa-9455	25	30	overall	overall	ADJ
ajfa-9455	25	31	competitiveness	competitiveness	NOUN
ajfa-9455	25	32	by	by	ADP
ajfa-9455	25	33	the	the	DET
ajfa-9455	25	34	firms	firm	NOUN
ajfa-9455	25	35	operating	operate	VERB
ajfa-9455	25	36	in	in	ADP
ajfa-9455	25	37	the	the	DET
ajfa-9455	25	38	manufacturing	manufacturing	NOUN
ajfa-9455	25	39	sector	sector	NOUN
ajfa-9455	25	40	of	of	ADP
ajfa-9455	25	41	india	india	PROPN
ajfa-9455	25	42	(	(	PUNCT
ajfa-9455	25	43	sharma	sharma	PROPN
ajfa-9455	25	44	,	,	PUNCT
ajfa-9455	25	45	2006	2006	NUM
ajfa-9455	25	46	)	)	PUNCT
ajfa-9455	25	47	and	and	CCONJ
ajfa-9455	25	48	it	it	PRON
ajfa-9455	25	49	is	be	AUX
ajfa-9455	25	50	also	also	ADV
ajfa-9455	25	51	considered	consider	VERB
ajfa-9455	25	52	a	a	DET
ajfa-9455	25	53	leading	lead	VERB
ajfa-9455	25	54	factor	factor	NOUN
ajfa-9455	25	55	to	to	PART
ajfa-9455	25	56	determine	determine	VERB
ajfa-9455	25	57	the	the	DET
ajfa-9455	25	58	firms	firm	NOUN
ajfa-9455	25	59	'	'	PART
ajfa-9455	25	60	risk	risk	NOUN
ajfa-9455	25	61	premium	premium	NOUN
ajfa-9455	25	62	(	(	PUNCT
ajfa-9455	25	63	zimmer	zimmer	PROPN
ajfa-9455	25	64	,	,	PUNCT
ajfa-9455	25	65	1990	1990	NUM
ajfa-9455	25	66	)	)	PUNCT
ajfa-9455	25	67	.	.	PUNCT
ajfa-9455	26	1	a	a	DET
ajfa-9455	26	2	significant	significant	ADJ
ajfa-9455	26	3	relationship	relationship	NOUN
ajfa-9455	26	4	between	between	ADP
ajfa-9455	26	5	any	any	DET
ajfa-9455	26	6	fundamental	fundamental	ADJ
ajfa-9455	26	7	variable	variable	NOUN
ajfa-9455	26	8	and	and	CCONJ
ajfa-9455	26	9	stock	stock	NOUN
ajfa-9455	26	10	prices	price	NOUN
ajfa-9455	26	11	indicates	indicate	VERB
ajfa-9455	26	12	that	that	SCONJ
ajfa-9455	26	13	this	this	DET
ajfa-9455	26	14	fundamental	fundamental	ADJ
ajfa-9455	26	15	variable	variable	NOUN
ajfa-9455	26	16	is	be	AUX
ajfa-9455	26	17	a	a	DET
ajfa-9455	26	18	value	value	NOUN
ajfa-9455	26	19	-	-	PUNCT
ajfa-9455	26	20	relevant	relevant	ADJ
ajfa-9455	26	21	(	(	PUNCT
ajfa-9455	26	22	trabelsi	trabelsi	NOUN
ajfa-9455	26	23	,	,	PUNCT
ajfa-9455	26	24	2013	2013	NUM
ajfa-9455	26	25	)	)	PUNCT
ajfa-9455	26	26	as	as	SCONJ
ajfa-9455	26	27	its	its	PRON
ajfa-9455	26	28	use	use	NOUN
ajfa-9455	26	29	may	may	AUX
ajfa-9455	26	30	lead	lead	VERB
ajfa-9455	26	31	the	the	DET
ajfa-9455	26	32	value	value	NOUN
ajfa-9455	26	33	of	of	ADP
ajfa-9455	26	34	firm	firm	NOUN
ajfa-9455	26	35	close	close	ADJ
ajfa-9455	26	36	to	to	ADP
ajfa-9455	26	37	its	its	PRON
ajfa-9455	26	38	market	market	NOUN
ajfa-9455	26	39	value	value	NOUN
ajfa-9455	26	40	(	(	PUNCT
ajfa-9455	26	41	dumontier	dumontier	NOUN
ajfa-9455	26	42	&	&	CCONJ
ajfa-9455	26	43	raffournier	raffournier	NOUN
ajfa-9455	26	44	,	,	PUNCT
ajfa-9455	26	45	2002	2002	NUM
ajfa-9455	26	46	)	)	PUNCT
ajfa-9455	26	47	.	.	PUNCT
ajfa-9455	27	1	the	the	DET
ajfa-9455	27	2	main	main	ADJ
ajfa-9455	27	3	objective	objective	NOUN
ajfa-9455	27	4	of	of	ADP
ajfa-9455	27	5	this	this	DET
ajfa-9455	27	6	study	study	NOUN
ajfa-9455	27	7	is	be	AUX
ajfa-9455	27	8	to	to	PART
ajfa-9455	27	9	empirically	empirically	ADV
ajfa-9455	27	10	investigate	investigate	VERB
ajfa-9455	27	11	the	the	DET
ajfa-9455	27	12	combined	combined	ADJ
ajfa-9455	27	13	effect	effect	NOUN
ajfa-9455	27	14	of	of	ADP
ajfa-9455	27	15	degrees	degree	NOUN
ajfa-9455	27	16	of	of	ADP
ajfa-9455	27	17	operating	operating	NOUN
ajfa-9455	27	18	and	and	CCONJ
ajfa-9455	27	19	financial	financial	ADJ
ajfa-9455	27	20	leverage	leverage	NOUN
ajfa-9455	27	21	(	(	PUNCT
ajfa-9455	27	22	hereafter	hereafter	ADV
ajfa-9455	27	23	,	,	PUNCT
ajfa-9455	27	24	dol	dol	NOUN
ajfa-9455	27	25	and	and	CCONJ
ajfa-9455	27	26	dfl	dfl	PROPN
ajfa-9455	27	27	)	)	PUNCT
ajfa-9455	27	28	on	on	ADP
ajfa-9455	27	29	the	the	DET
ajfa-9455	27	30	pe	pe	PROPN
ajfa-9455	27	31	ratio	ratio	NOUN
ajfa-9455	27	32	,	,	PUNCT
ajfa-9455	27	33	proxy	proxy	NOUN
ajfa-9455	27	34	for	for	ADP
ajfa-9455	27	35	firm	firm	ADJ
ajfa-9455	27	36	value	value	NOUN
ajfa-9455	27	37	,	,	PUNCT
ajfa-9455	27	38	for	for	ADP
ajfa-9455	27	39	231	231	NUM
ajfa-9455	27	40	national	national	ADJ
ajfa-9455	27	41	stock	stock	NOUN
ajfa-9455	27	42	exchange	exchange	PROPN
ajfa-9455	27	43	(	(	PUNCT
ajfa-9455	27	44	nse	nse	NOUN
ajfa-9455	27	45	)	)	PUNCT
ajfa-9455	27	46	listed	list	VERB
ajfa-9455	27	47	manufacturing	manufacturing	NOUN
ajfa-9455	27	48	firms	firm	NOUN
ajfa-9455	27	49	in	in	ADP
ajfa-9455	27	50	india	india	PROPN
ajfa-9455	27	51	.	.	PUNCT
ajfa-9455	28	1	since	since	SCONJ
ajfa-9455	28	2	much	much	ADJ
ajfa-9455	28	3	research	research	NOUN
ajfa-9455	28	4	studies	study	NOUN
ajfa-9455	28	5	in	in	ADP
ajfa-9455	28	6	this	this	DET
ajfa-9455	28	7	topic	topic	NOUN
ajfa-9455	28	8	have	have	AUX
ajfa-9455	28	9	not	not	PART
ajfa-9455	28	10	been	be	AUX
ajfa-9455	28	11	explored	explore	VERB
ajfa-9455	28	12	in	in	ADP
ajfa-9455	28	13	the	the	DET
ajfa-9455	28	14	context	context	NOUN
ajfa-9455	28	15	of	of	ADP
ajfa-9455	28	16	india	india	PROPN
ajfa-9455	28	17	,	,	PUNCT
ajfa-9455	28	18	one	one	NUM
ajfa-9455	28	19	of	of	ADP
ajfa-9455	28	20	big	big	ADJ
ajfa-9455	28	21	10	10	NUM
ajfa-9455	28	22	emerging	emerge	VERB
ajfa-9455	28	23	markets	market	NOUN
ajfa-9455	28	24	(	(	PUNCT
ajfa-9455	28	25	garten	garten	NOUN
ajfa-9455	28	26	,	,	PUNCT
ajfa-9455	28	27	1997	1997	NUM
ajfa-9455	28	28	)	)	PUNCT
ajfa-9455	28	29	and	and	CCONJ
ajfa-9455	28	30	listed	list	VERB
ajfa-9455	28	31	as	as	ADP
ajfa-9455	28	32	an	an	DET
ajfa-9455	28	33	emerging	emerge	VERB
ajfa-9455	28	34	market	market	NOUN
ajfa-9455	28	35	by	by	ADP
ajfa-9455	28	36	dow	dow	PROPN
ajfa-9455	28	37	jones	jones	PROPN
ajfa-9455	28	38	(	(	PUNCT
ajfa-9455	28	39	2010	2010	NUM
ajfa-9455	28	40	)	)	PUNCT
ajfa-9455	28	41	,	,	PUNCT
ajfa-9455	28	42	economist	economist	NOUN
ajfa-9455	28	43	(	(	PUNCT
ajfa-9455	28	44	2009	2009	NUM
ajfa-9455	28	45	)	)	PUNCT
ajfa-9455	28	46	,	,	PUNCT
ajfa-9455	28	47	ftse	ftse	PROPN
ajfa-9455	28	48	(	(	PUNCT
ajfa-9455	28	49	2010	2010	NUM
ajfa-9455	28	50	)	)	PUNCT
ajfa-9455	28	51	,	,	PUNCT
ajfa-9455	28	52	msci	msci	PROPN
ajfa-9455	28	53	(	(	PUNCT
ajfa-9455	28	54	2010	2010	NUM
ajfa-9455	28	55	)	)	PUNCT
ajfa-9455	28	56	and	and	CCONJ
ajfa-9455	28	57	hoskisson	hoskisson	NOUN
ajfa-9455	28	58	,	,	PUNCT
ajfa-9455	28	59	et	et	PROPN
ajfa-9455	28	60	al	al	PROPN
ajfa-9455	28	61	.	.	PUNCT
ajfa-9455	29	1	(	(	PUNCT
ajfa-9455	29	2	2000	2000	NUM
ajfa-9455	29	3	)	)	PUNCT
ajfa-9455	29	4	in	in	ADP
ajfa-9455	29	5	the	the	DET
ajfa-9455	29	6	study	study	NOUN
ajfa-9455	29	7	of	of	ADP
ajfa-9455	29	8	asian	asian	ADJ
ajfa-9455	29	9	journal	journal	PROPN
ajfa-9455	29	10	of	of	ADP
ajfa-9455	29	11	finance	finance	PROPN
ajfa-9455	29	12	&	&	CCONJ
ajfa-9455	29	13	accounting	accounting	PROPN
ajfa-9455	29	14	issn	issn	PROPN
ajfa-9455	29	15	1946	1946	NUM
ajfa-9455	29	16	-	-	PUNCT
ajfa-9455	29	17	052x	052x	PROPN
ajfa-9455	29	18	2016	2016	NUM
ajfa-9455	29	19	,	,	PUNCT
ajfa-9455	29	20	vol	vol	NOUN
ajfa-9455	29	21	.	.	PROPN
ajfa-9455	29	22	8	8	NUM
ajfa-9455	29	23	,	,	PUNCT
ajfa-9455	29	24	no	no	INTJ
ajfa-9455	29	25	.	.	NOUN
ajfa-9455	29	26	1	1	NUM
ajfa-9455	29	27	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-9455	29	28	215	215	NUM
ajfa-9455	29	29	merchant	merchant	NOUN
ajfa-9455	29	30	and	and	CCONJ
ajfa-9455	29	31	allen	allen	PROPN
ajfa-9455	29	32	-	-	PUNCT
ajfa-9455	29	33	ford	ford	PROPN
ajfa-9455	29	34	(	(	PUNCT
ajfa-9455	29	35	2012	2012	NUM
ajfa-9455	29	36	,	,	PUNCT
ajfa-9455	29	37	pp.369	pp.369	PROPN
ajfa-9455	29	38	)	)	PUNCT
ajfa-9455	29	39	.	.	PUNCT
ajfa-9455	30	1	therefore	therefore	ADV
ajfa-9455	30	2	,	,	PUNCT
ajfa-9455	30	3	our	our	PRON
ajfa-9455	30	4	study	study	NOUN
ajfa-9455	30	5	claims	claim	VERB
ajfa-9455	30	6	to	to	PART
ajfa-9455	30	7	questioning	question	VERB
ajfa-9455	30	8	this	this	DET
ajfa-9455	30	9	relationship	relationship	NOUN
ajfa-9455	30	10	in	in	ADP
ajfa-9455	30	11	the	the	DET
ajfa-9455	30	12	context	context	NOUN
ajfa-9455	30	13	of	of	ADP
ajfa-9455	30	14	india	india	PROPN
ajfa-9455	30	15	.	.	PUNCT
ajfa-9455	31	1	two	two	NUM
ajfa-9455	31	2	control	control	NOUN
ajfa-9455	31	3	variables	variable	NOUN
ajfa-9455	31	4	,	,	PUNCT
ajfa-9455	31	5	return	return	VERB
ajfa-9455	31	6	on	on	ADP
ajfa-9455	31	7	assets	asset	NOUN
ajfa-9455	31	8	(	(	PUNCT
ajfa-9455	31	9	flatt	flatt	PROPN
ajfa-9455	31	10	&	&	CCONJ
ajfa-9455	31	11	kowalczyk	kowalczyk	PROPN
ajfa-9455	31	12	,	,	PUNCT
ajfa-9455	31	13	2008	2008	NUM
ajfa-9455	31	14	;	;	PUNCT
ajfa-9455	31	15	lee	lee	PROPN
ajfa-9455	31	16	&	&	CCONJ
ajfa-9455	31	17	swenson	swenson	PROPN
ajfa-9455	31	18	,	,	PUNCT
ajfa-9455	31	19	2012	2012	NUM
ajfa-9455	31	20	)	)	PUNCT
ajfa-9455	31	21	and	and	CCONJ
ajfa-9455	31	22	firm	firm	ADJ
ajfa-9455	31	23	size	size	NOUN
ajfa-9455	31	24	measured	measure	VERB
ajfa-9455	31	25	as	as	ADP
ajfa-9455	31	26	sales	sale	NOUN
ajfa-9455	31	27	(	(	PUNCT
ajfa-9455	31	28	shehata	shehata	NOUN
ajfa-9455	31	29	,	,	PUNCT
ajfa-9455	31	30	1991	1991	NUM
ajfa-9455	31	31	)	)	PUNCT
ajfa-9455	31	32	of	of	ADP
ajfa-9455	31	33	the	the	DET
ajfa-9455	31	34	firms	firm	NOUN
ajfa-9455	31	35	,	,	PUNCT
ajfa-9455	31	36	that	that	PRON
ajfa-9455	31	37	could	could	AUX
ajfa-9455	31	38	affect	affect	VERB
ajfa-9455	31	39	firm	firm	ADJ
ajfa-9455	31	40	value	value	NOUN
ajfa-9455	31	41	are	be	AUX
ajfa-9455	31	42	also	also	ADV
ajfa-9455	31	43	included	include	VERB
ajfa-9455	31	44	in	in	ADP
ajfa-9455	31	45	this	this	DET
ajfa-9455	31	46	study	study	NOUN
ajfa-9455	31	47	to	to	PART
ajfa-9455	31	48	determine	determine	VERB
ajfa-9455	31	49	the	the	DET
ajfa-9455	31	50	extent	extent	NOUN
ajfa-9455	31	51	of	of	ADP
ajfa-9455	31	52	their	their	PRON
ajfa-9455	31	53	impact	impact	NOUN
ajfa-9455	31	54	in	in	ADP
ajfa-9455	31	55	explaining	explain	VERB
ajfa-9455	31	56	the	the	DET
ajfa-9455	31	57	firm	firm	ADJ
ajfa-9455	31	58	value	value	NOUN
ajfa-9455	31	59	.	.	PUNCT
ajfa-9455	32	1	the	the	DET
ajfa-9455	32	2	standard	standard	ADJ
ajfa-9455	32	3	ordinary	ordinary	ADJ
ajfa-9455	32	4	least	least	ADJ
ajfa-9455	32	5	square	square	ADJ
ajfa-9455	32	6	regression	regression	NOUN
ajfa-9455	32	7	models	model	NOUN
ajfa-9455	32	8	at	at	ADP
ajfa-9455	32	9	the	the	DET
ajfa-9455	32	10	levels	level	NOUN
ajfa-9455	32	11	of	of	ADP
ajfa-9455	32	12	individual	individual	ADJ
ajfa-9455	32	13	firm	firm	NOUN
ajfa-9455	32	14	and	and	CCONJ
ajfa-9455	32	15	portfolio	portfolio	NOUN
ajfa-9455	32	16	of	of	ADP
ajfa-9455	32	17	firms	firm	NOUN
ajfa-9455	32	18	are	be	AUX
ajfa-9455	32	19	performed	perform	VERB
ajfa-9455	32	20	to	to	PART
ajfa-9455	32	21	find	find	VERB
ajfa-9455	32	22	the	the	DET
ajfa-9455	32	23	empirical	empirical	ADJ
ajfa-9455	32	24	results	result	NOUN
ajfa-9455	32	25	.	.	PUNCT
ajfa-9455	33	1	the	the	DET
ajfa-9455	33	2	rest	rest	NOUN
ajfa-9455	33	3	of	of	ADP
ajfa-9455	33	4	the	the	DET
ajfa-9455	33	5	paper	paper	NOUN
ajfa-9455	33	6	is	be	AUX
ajfa-9455	33	7	organized	organize	VERB
ajfa-9455	33	8	as	as	SCONJ
ajfa-9455	33	9	follows	follow	VERB
ajfa-9455	33	10	.	.	PUNCT
ajfa-9455	34	1	the	the	DET
ajfa-9455	34	2	next	next	ADJ
ajfa-9455	34	3	section	section	NOUN
ajfa-9455	34	4	is	be	AUX
ajfa-9455	34	5	described	describe	VERB
ajfa-9455	34	6	related	related	ADJ
ajfa-9455	34	7	literature	literature	NOUN
ajfa-9455	34	8	and	and	CCONJ
ajfa-9455	34	9	hypotheses	hypothese	VERB
ajfa-9455	34	10	development	development	NOUN
ajfa-9455	34	11	.	.	PUNCT
ajfa-9455	35	1	section	section	NOUN
ajfa-9455	35	2	iii	iii	PROPN
ajfa-9455	35	3	explains	explain	VERB
ajfa-9455	35	4	the	the	DET
ajfa-9455	35	5	empirical	empirical	ADJ
ajfa-9455	35	6	test	test	NOUN
ajfa-9455	35	7	and	and	CCONJ
ajfa-9455	35	8	design	design	NOUN
ajfa-9455	35	9	used	use	VERB
ajfa-9455	35	10	in	in	ADP
ajfa-9455	35	11	the	the	DET
ajfa-9455	35	12	paper	paper	NOUN
ajfa-9455	35	13	.	.	PUNCT
ajfa-9455	36	1	the	the	DET
ajfa-9455	36	2	results	result	NOUN
ajfa-9455	36	3	and	and	CCONJ
ajfa-9455	36	4	analysis	analysis	NOUN
ajfa-9455	36	5	are	be	AUX
ajfa-9455	36	6	taken	take	VERB
ajfa-9455	36	7	in	in	ADP
ajfa-9455	36	8	section	section	NOUN
ajfa-9455	36	9	iv	iv	NUM
ajfa-9455	36	10	,	,	PUNCT
ajfa-9455	36	11	and	and	CCONJ
ajfa-9455	36	12	finally	finally	ADV
ajfa-9455	36	13	,	,	PUNCT
ajfa-9455	36	14	section	section	NOUN
ajfa-9455	36	15	v	v	NOUN
ajfa-9455	36	16	concludes	conclude	VERB
ajfa-9455	36	17	.	.	PUNCT
ajfa-9455	37	1	2	2	X
ajfa-9455	37	2	.	.	X
ajfa-9455	37	3	literature	literature	NOUN
ajfa-9455	37	4	review	review	PROPN
ajfa-9455	37	5	and	and	CCONJ
ajfa-9455	37	6	hypothesis	hypothesis	NOUN
ajfa-9455	37	7	development	development	NOUN
ajfa-9455	37	8	over	over	ADP
ajfa-9455	37	9	a	a	DET
ajfa-9455	37	10	period	period	NOUN
ajfa-9455	37	11	of	of	ADP
ajfa-9455	37	12	five	five	NUM
ajfa-9455	37	13	decades	decade	NOUN
ajfa-9455	37	14	,	,	PUNCT
ajfa-9455	37	15	empirical	empirical	ADJ
ajfa-9455	37	16	investigation	investigation	NOUN
ajfa-9455	37	17	of	of	ADP
ajfa-9455	37	18	the	the	DET
ajfa-9455	37	19	relationship	relationship	NOUN
ajfa-9455	37	20	between	between	ADP
ajfa-9455	37	21	leverage	leverage	NOUN
ajfa-9455	37	22	and	and	CCONJ
ajfa-9455	37	23	firm	firm	ADJ
ajfa-9455	37	24	value	value	NOUN
ajfa-9455	37	25	has	have	AUX
ajfa-9455	37	26	always	always	ADV
ajfa-9455	37	27	been	be	AUX
ajfa-9455	37	28	of	of	ADP
ajfa-9455	37	29	great	great	ADJ
ajfa-9455	37	30	interest	interest	NOUN
ajfa-9455	37	31	for	for	ADP
ajfa-9455	37	32	the	the	DET
ajfa-9455	37	33	scholars	scholar	NOUN
ajfa-9455	37	34	and	and	CCONJ
ajfa-9455	37	35	practitioners	practitioner	NOUN
ajfa-9455	37	36	around	around	ADP
ajfa-9455	37	37	the	the	DET
ajfa-9455	37	38	world	world	NOUN
ajfa-9455	37	39	.	.	PUNCT
ajfa-9455	38	1	in	in	ADP
ajfa-9455	38	2	1958	1958	NUM
ajfa-9455	38	3	modigliani	modigliani	NOUN
ajfa-9455	38	4	and	and	CCONJ
ajfa-9455	38	5	miller	miller	PROPN
ajfa-9455	38	6	found	find	VERB
ajfa-9455	38	7	that	that	SCONJ
ajfa-9455	38	8	the	the	DET
ajfa-9455	38	9	value	value	NOUN
ajfa-9455	38	10	of	of	ADP
ajfa-9455	38	11	any	any	DET
ajfa-9455	38	12	firm	firm	NOUN
ajfa-9455	38	13	does	do	AUX
ajfa-9455	38	14	not	not	PART
ajfa-9455	38	15	depend	depend	VERB
ajfa-9455	38	16	on	on	ADP
ajfa-9455	38	17	its	its	PRON
ajfa-9455	38	18	capital	capital	NOUN
ajfa-9455	38	19	structure	structure	NOUN
ajfa-9455	38	20	in	in	ADP
ajfa-9455	38	21	a	a	DET
ajfa-9455	38	22	perfect	perfect	ADJ
ajfa-9455	38	23	capital	capital	NOUN
ajfa-9455	38	24	markets	market	NOUN
ajfa-9455	38	25	.	.	PUNCT
ajfa-9455	39	1	in	in	ADP
ajfa-9455	39	2	other	other	ADJ
ajfa-9455	39	3	words	word	NOUN
ajfa-9455	39	4	,	,	PUNCT
ajfa-9455	39	5	the	the	DET
ajfa-9455	39	6	firm	firm	ADJ
ajfa-9455	39	7	value	value	NOUN
ajfa-9455	39	8	is	be	AUX
ajfa-9455	39	9	independent	independent	ADJ
ajfa-9455	39	10	of	of	ADP
ajfa-9455	39	11	its	its	PRON
ajfa-9455	39	12	leverage	leverage	NOUN
ajfa-9455	39	13	.	.	PUNCT
ajfa-9455	40	1	sarma	sarma	PROPN
ajfa-9455	40	2	and	and	CCONJ
ajfa-9455	40	3	rao	rao	PROPN
ajfa-9455	40	4	(	(	PUNCT
ajfa-9455	40	5	1969	1969	NUM
ajfa-9455	40	6	)	)	PUNCT
ajfa-9455	40	7	employed	employ	VERB
ajfa-9455	40	8	merton	merton	PROPN
ajfa-9455	40	9	h.	h.	PROPN
ajfa-9455	40	10	miller	miller	PROPN
ajfa-9455	40	11	and	and	CCONJ
ajfa-9455	40	12	franco	franco	PROPN
ajfa-9455	40	13	modigliani	modigliani	PROPN
ajfa-9455	40	14	’s	’s	PART
ajfa-9455	40	15	model	model	NOUN
ajfa-9455	40	16	to	to	ADP
ajfa-9455	40	17	a	a	DET
ajfa-9455	40	18	non	non	ADJ
ajfa-9455	40	19	-	-	ADJ
ajfa-9455	40	20	regulated	regulated	ADJ
ajfa-9455	40	21	industry	industry	NOUN
ajfa-9455	40	22	and	and	CCONJ
ajfa-9455	40	23	tested	test	VERB
ajfa-9455	40	24	the	the	DET
ajfa-9455	40	25	mm	mm	PROPN
ajfa-9455	40	26	hypothesis	hypothesis	NOUN
ajfa-9455	40	27	on	on	ADP
ajfa-9455	40	28	the	the	DET
ajfa-9455	40	29	influence	influence	NOUN
ajfa-9455	40	30	of	of	ADP
ajfa-9455	40	31	debt	debt	NOUN
ajfa-9455	40	32	on	on	ADP
ajfa-9455	40	33	the	the	DET
ajfa-9455	40	34	value	value	NOUN
ajfa-9455	40	35	of	of	ADP
ajfa-9455	40	36	a	a	DET
ajfa-9455	40	37	firm	firm	NOUN
ajfa-9455	40	38	and	and	CCONJ
ajfa-9455	40	39	found	find	VERB
ajfa-9455	40	40	the	the	DET
ajfa-9455	40	41	results	result	NOUN
ajfa-9455	40	42	in	in	ADP
ajfa-9455	40	43	support	support	NOUN
ajfa-9455	40	44	of	of	ADP
ajfa-9455	40	45	their	their	PRON
ajfa-9455	40	46	hypothesis	hypothesis	NOUN
ajfa-9455	40	47	that	that	SCONJ
ajfa-9455	40	48	“	"	PUNCT
ajfa-9455	40	49	after	after	ADP
ajfa-9455	40	50	allowing	allow	VERB
ajfa-9455	40	51	for	for	ADP
ajfa-9455	40	52	the	the	DET
ajfa-9455	40	53	tax	tax	NOUN
ajfa-9455	40	54	advantage	advantage	NOUN
ajfa-9455	40	55	from	from	ADP
ajfa-9455	40	56	the	the	DET
ajfa-9455	40	57	interest	interest	NOUN
ajfa-9455	40	58	paid	pay	VERB
ajfa-9455	40	59	on	on	ADP
ajfa-9455	40	60	debt	debt	NOUN
ajfa-9455	40	61	,	,	PUNCT
ajfa-9455	40	62	the	the	DET
ajfa-9455	40	63	value	value	NOUN
ajfa-9455	40	64	of	of	ADP
ajfa-9455	40	65	a	a	DET
ajfa-9455	40	66	firm	firm	NOUN
ajfa-9455	40	67	is	be	AUX
ajfa-9455	40	68	independent	independent	ADJ
ajfa-9455	40	69	of	of	ADP
ajfa-9455	40	70	its	its	PRON
ajfa-9455	40	71	capital	capital	NOUN
ajfa-9455	40	72	structure	structure	NOUN
ajfa-9455	40	73	”	"	PUNCT
ajfa-9455	40	74	.	.	PUNCT
ajfa-9455	41	1	however	however	ADV
ajfa-9455	41	2	,	,	PUNCT
ajfa-9455	41	3	we	we	PRON
ajfa-9455	41	4	take	take	VERB
ajfa-9455	41	5	both	both	DET
ajfa-9455	41	6	the	the	DET
ajfa-9455	41	7	leverages	leverage	NOUN
ajfa-9455	41	8	(	(	PUNCT
ajfa-9455	41	9	operating	operating	NOUN
ajfa-9455	41	10	and	and	CCONJ
ajfa-9455	41	11	financial	financial	ADJ
ajfa-9455	41	12	)	)	PUNCT
ajfa-9455	41	13	to	to	PART
ajfa-9455	41	14	test	test	VERB
ajfa-9455	41	15	our	our	PRON
ajfa-9455	41	16	proposed	propose	VERB
ajfa-9455	41	17	hypotheses	hypothesis	NOUN
ajfa-9455	41	18	as	as	SCONJ
ajfa-9455	41	19	only	only	ADV
ajfa-9455	41	20	few	few	ADJ
ajfa-9455	41	21	studies	study	NOUN
ajfa-9455	41	22	have	have	AUX
ajfa-9455	41	23	taken	take	VERB
ajfa-9455	41	24	operating	operating	NOUN
ajfa-9455	41	25	leverage	leverage	NOUN
ajfa-9455	41	26	as	as	ADP
ajfa-9455	41	27	a	a	DET
ajfa-9455	41	28	determinant	determinant	NOUN
ajfa-9455	41	29	of	of	ADP
ajfa-9455	41	30	firm	firm	ADJ
ajfa-9455	41	31	value	value	NOUN
ajfa-9455	41	32	.	.	PUNCT
ajfa-9455	42	1	azmat	azmat	PROPN
ajfa-9455	42	2	(	(	PUNCT
ajfa-9455	42	3	2014	2014	NUM
ajfa-9455	42	4	)	)	PUNCT
ajfa-9455	42	5	investigate	investigate	VERB
ajfa-9455	42	6	the	the	DET
ajfa-9455	42	7	relationship	relationship	NOUN
ajfa-9455	42	8	between	between	ADP
ajfa-9455	42	9	firm	firm	ADJ
ajfa-9455	42	10	value	value	NOUN
ajfa-9455	42	11	and	and	CCONJ
ajfa-9455	42	12	cash	cash	NOUN
ajfa-9455	42	13	holdings	holding	NOUN
ajfa-9455	42	14	and	and	CCONJ
ajfa-9455	42	15	find	find	VERB
ajfa-9455	42	16	a	a	DET
ajfa-9455	42	17	concave	concave	ADJ
ajfa-9455	42	18	relationship	relationship	NOUN
ajfa-9455	42	19	between	between	ADP
ajfa-9455	42	20	firm	firm	ADJ
ajfa-9455	42	21	value	value	NOUN
ajfa-9455	42	22	and	and	CCONJ
ajfa-9455	42	23	cash	cash	NOUN
ajfa-9455	42	24	holdings	holding	NOUN
ajfa-9455	42	25	.	.	PUNCT
ajfa-9455	43	1	the	the	DET
ajfa-9455	43	2	firms	firm	NOUN
ajfa-9455	43	3	’	’	PART
ajfa-9455	43	4	value	value	NOUN
ajfa-9455	43	5	and	and	CCONJ
ajfa-9455	43	6	financial	financial	ADJ
ajfa-9455	43	7	leverage	leverage	NOUN
ajfa-9455	43	8	are	be	AUX
ajfa-9455	43	9	significantly	significantly	ADV
ajfa-9455	43	10	and	and	CCONJ
ajfa-9455	43	11	directly	directly	ADV
ajfa-9455	43	12	associated	associate	VERB
ajfa-9455	43	13	(	(	PUNCT
ajfa-9455	43	14	sharma	sharma	PROPN
ajfa-9455	43	15	,	,	PUNCT
ajfa-9455	43	16	2006	2006	NUM
ajfa-9455	43	17	)	)	PUNCT
ajfa-9455	43	18	.	.	PUNCT
ajfa-9455	44	1	garcia	garcia	PROPN
ajfa-9455	44	2	and	and	CCONJ
ajfa-9455	44	3	jorgensen	jorgensen	PROPN
ajfa-9455	44	4	(	(	PUNCT
ajfa-9455	44	5	2010	2010	NUM
ajfa-9455	44	6	)	)	PUNCT
ajfa-9455	44	7	reported	report	VERB
ajfa-9455	44	8	that	that	SCONJ
ajfa-9455	44	9	a	a	DET
ajfa-9455	44	10	trade	trade	NOUN
ajfa-9455	44	11	-	-	PUNCT
ajfa-9455	44	12	off	off	NOUN
ajfa-9455	44	13	(	(	PUNCT
ajfa-9455	44	14	dotan	dotan	PROPN
ajfa-9455	44	15	&	&	CCONJ
ajfa-9455	44	16	ravid	ravid	PROPN
ajfa-9455	44	17	,	,	PUNCT
ajfa-9455	44	18	1985	1985	NUM
ajfa-9455	44	19	;	;	PUNCT
ajfa-9455	44	20	trezevant	trezevant	NOUN
ajfa-9455	44	21	,	,	PUNCT
ajfa-9455	44	22	1992	1992	NUM
ajfa-9455	44	23	)	)	PUNCT
ajfa-9455	44	24	or	or	CCONJ
ajfa-9455	44	25	a	a	DET
ajfa-9455	44	26	u	u	NOUN
ajfa-9455	44	27	-	-	ADJ
ajfa-9455	44	28	shaped	shape	VERB
ajfa-9455	44	29	relation	relation	NOUN
ajfa-9455	44	30	(	(	PUNCT
ajfa-9455	44	31	huffman	huffman	PROPN
ajfa-9455	44	32	,	,	PUNCT
ajfa-9455	44	33	1983	1983	NUM
ajfa-9455	44	34	;	;	PUNCT
ajfa-9455	44	35	prezas	prezas	PROPN
ajfa-9455	44	36	,	,	PUNCT
ajfa-9455	44	37	1987	1987	NUM
ajfa-9455	44	38	;	;	PUNCT
ajfa-9455	44	39	kale	kale	X
ajfa-9455	44	40	,	,	PUNCT
ajfa-9455	44	41	noe	noe	PROPN
ajfa-9455	44	42	,	,	PUNCT
ajfa-9455	44	43	&	&	CCONJ
ajfa-9455	44	44	ramirez	ramirez	PROPN
ajfa-9455	44	45	,	,	PUNCT
ajfa-9455	44	46	1991	1991	NUM
ajfa-9455	44	47	)	)	PUNCT
ajfa-9455	44	48	between	between	ADP
ajfa-9455	44	49	operating	operate	VERB
ajfa-9455	44	50	and	and	CCONJ
ajfa-9455	44	51	financial	financial	ADJ
ajfa-9455	44	52	leverage	leverage	NOUN
ajfa-9455	44	53	exists	exist	VERB
ajfa-9455	44	54	due	due	ADJ
ajfa-9455	44	55	to	to	ADP
ajfa-9455	44	56	the	the	DET
ajfa-9455	44	57	interactions	interaction	NOUN
ajfa-9455	44	58	between	between	ADP
ajfa-9455	44	59	investment	investment	NOUN
ajfa-9455	44	60	and	and	CCONJ
ajfa-9455	44	61	financing	financing	NOUN
ajfa-9455	44	62	decisions	decision	NOUN
ajfa-9455	44	63	.	.	PUNCT
ajfa-9455	45	1	the	the	DET
ajfa-9455	45	2	leverage	leverage	NOUN
ajfa-9455	45	3	causes	cause	VERB
ajfa-9455	45	4	a	a	DET
ajfa-9455	45	5	change	change	NOUN
ajfa-9455	45	6	in	in	ADP
ajfa-9455	45	7	the	the	DET
ajfa-9455	45	8	volatility	volatility	NOUN
ajfa-9455	45	9	of	of	ADP
ajfa-9455	45	10	stock	stock	NOUN
ajfa-9455	45	11	returns	return	NOUN
ajfa-9455	45	12	(	(	PUNCT
ajfa-9455	45	13	christie	christie	NOUN
ajfa-9455	45	14	,	,	PUNCT
ajfa-9455	45	15	1982	1982	NUM
ajfa-9455	45	16	;	;	PUNCT
ajfa-9455	45	17	french	french	PROPN
ajfa-9455	45	18	,	,	PUNCT
ajfa-9455	45	19	schwert	schwert	PROPN
ajfa-9455	45	20	&	&	CCONJ
ajfa-9455	45	21	stambaugh	stambaugh	PROPN
ajfa-9455	45	22	,	,	PUNCT
ajfa-9455	45	23	1987	1987	NUM
ajfa-9455	45	24	;	;	PUNCT
ajfa-9455	45	25	schwert	schwert	PROPN
ajfa-9455	45	26	,	,	PUNCT
ajfa-9455	45	27	1989	1989	NUM
ajfa-9455	45	28	;	;	PUNCT
ajfa-9455	45	29	cheung	cheung	PROPN
ajfa-9455	45	30	&	&	CCONJ
ajfa-9455	45	31	ng	ng	PROPN
ajfa-9455	45	32	,	,	PUNCT
ajfa-9455	45	33	1992	1992	NUM
ajfa-9455	45	34	and	and	CCONJ
ajfa-9455	45	35	nishat	nishat	PROPN
ajfa-9455	45	36	,	,	PUNCT
ajfa-9455	45	37	2000	2000	NUM
ajfa-9455	45	38	)	)	PUNCT
ajfa-9455	45	39	.	.	PUNCT
ajfa-9455	46	1	many	many	ADJ
ajfa-9455	46	2	empirical	empirical	ADJ
ajfa-9455	46	3	studies	study	NOUN
ajfa-9455	46	4	(	(	PUNCT
ajfa-9455	46	5	gahlon	gahlon	PROPN
ajfa-9455	46	6	&	&	CCONJ
ajfa-9455	46	7	gentry	gentry	NOUN
ajfa-9455	46	8	,	,	PUNCT
ajfa-9455	46	9	1982	1982	NUM
ajfa-9455	46	10	;	;	PUNCT
ajfa-9455	46	11	mandelker	mandelker	NOUN
ajfa-9455	46	12	&	&	CCONJ
ajfa-9455	46	13	rhee	rhee	PROPN
ajfa-9455	46	14	,	,	PUNCT
ajfa-9455	46	15	1984	1984	NUM
ajfa-9455	46	16	;	;	PUNCT
ajfa-9455	46	17	huffman	huffman	PROPN
ajfa-9455	46	18	,	,	PUNCT
ajfa-9455	46	19	1989	1989	NUM
ajfa-9455	46	20	;	;	PUNCT
ajfa-9455	46	21	carlson	carlson	PROPN
ajfa-9455	46	22	et	et	PROPN
ajfa-9455	46	23	al	al	PROPN
ajfa-9455	46	24	.	.	PROPN
ajfa-9455	46	25	2004	2004	NUM
ajfa-9455	46	26	;	;	PUNCT
ajfa-9455	46	27	zhang	zhang	PROPN
ajfa-9455	46	28	,	,	PUNCT
ajfa-9455	46	29	2005	2005	NUM
ajfa-9455	46	30	;	;	PUNCT
ajfa-9455	46	31	cooper	cooper	NOUN
ajfa-9455	46	32	,	,	PUNCT
ajfa-9455	46	33	2006	2006	NUM
ajfa-9455	46	34	;	;	PUNCT
ajfa-9455	46	35	garcia	garcia	PROPN
ajfa-9455	46	36	&	&	CCONJ
ajfa-9455	46	37	jorgensen	jorgensen	PROPN
ajfa-9455	46	38	,	,	PUNCT
ajfa-9455	46	39	2010	2010	NUM
ajfa-9455	46	40	)	)	PUNCT
ajfa-9455	46	41	use	use	VERB
ajfa-9455	46	42	dol	dol	NOUN
ajfa-9455	46	43	and	and	CCONJ
ajfa-9455	46	44	dfl	dfl	PROPN
ajfa-9455	46	45	to	to	PART
ajfa-9455	46	46	test	test	VERB
ajfa-9455	46	47	their	their	PRON
ajfa-9455	46	48	respective	respective	ADJ
ajfa-9455	46	49	hypotheses	hypothesis	NOUN
ajfa-9455	46	50	in	in	ADP
ajfa-9455	46	51	the	the	DET
ajfa-9455	46	52	context	context	NOUN
ajfa-9455	46	53	of	of	ADP
ajfa-9455	46	54	developed	develop	VERB
ajfa-9455	46	55	markets	market	NOUN
ajfa-9455	46	56	.	.	PUNCT
ajfa-9455	47	1	we	we	PRON
ajfa-9455	47	2	take	take	VERB
ajfa-9455	47	3	dol	dol	NOUN
ajfa-9455	47	4	and	and	CCONJ
ajfa-9455	47	5	dfl	dfl	PROPN
ajfa-9455	47	6	to	to	PART
ajfa-9455	47	7	empirically	empirically	ADV
ajfa-9455	47	8	examine	examine	VERB
ajfa-9455	47	9	their	their	PRON
ajfa-9455	47	10	impact	impact	NOUN
ajfa-9455	47	11	on	on	ADP
ajfa-9455	47	12	firm	firm	ADJ
ajfa-9455	47	13	value	value	NOUN
ajfa-9455	47	14	in	in	ADP
ajfa-9455	47	15	the	the	DET
ajfa-9455	47	16	context	context	NOUN
ajfa-9455	47	17	of	of	ADP
ajfa-9455	47	18	india	india	PROPN
ajfa-9455	47	19	since	since	SCONJ
ajfa-9455	47	20	the	the	DET
ajfa-9455	47	21	structures	structure	NOUN
ajfa-9455	47	22	of	of	ADP
ajfa-9455	47	23	business	business	NOUN
ajfa-9455	47	24	organizations	organization	NOUN
ajfa-9455	47	25	in	in	ADP
ajfa-9455	47	26	the	the	DET
ajfa-9455	47	27	emerging	emerge	VERB
ajfa-9455	47	28	or	or	CCONJ
ajfa-9455	47	29	developing	develop	VERB
ajfa-9455	47	30	markets	market	NOUN
ajfa-9455	47	31	are	be	AUX
ajfa-9455	47	32	different	different	ADJ
ajfa-9455	47	33	from	from	ADP
ajfa-9455	47	34	those	those	PRON
ajfa-9455	47	35	in	in	ADP
ajfa-9455	47	36	developed	develop	VERB
ajfa-9455	47	37	markets	market	NOUN
ajfa-9455	47	38	(	(	PUNCT
ajfa-9455	47	39	sarkar	sarkar	PROPN
ajfa-9455	47	40	et	et	PROPN
ajfa-9455	47	41	al	al	PROPN
ajfa-9455	47	42	.	.	PROPN
ajfa-9455	47	43	2008	2008	NUM
ajfa-9455	47	44	)	)	PUNCT
ajfa-9455	47	45	.	.	PUNCT
ajfa-9455	48	1	liquidity	liquidity	NOUN
ajfa-9455	48	2	,	,	PUNCT
ajfa-9455	48	3	taxation	taxation	NOUN
ajfa-9455	48	4	,	,	PUNCT
ajfa-9455	48	5	stock	stock	NOUN
ajfa-9455	48	6	market	market	NOUN
ajfa-9455	48	7	benchmarks	benchmark	NOUN
ajfa-9455	48	8	,	,	PUNCT
ajfa-9455	48	9	and	and	CCONJ
ajfa-9455	48	10	different	different	ADJ
ajfa-9455	48	11	transactions	transaction	NOUN
ajfa-9455	48	12	and	and	CCONJ
ajfa-9455	48	13	accounting	accounting	NOUN
ajfa-9455	48	14	methods	method	NOUN
ajfa-9455	48	15	are	be	AUX
ajfa-9455	48	16	some	some	PRON
ajfa-9455	48	17	of	of	ADP
ajfa-9455	48	18	the	the	DET
ajfa-9455	48	19	parameters	parameter	NOUN
ajfa-9455	48	20	where	where	SCONJ
ajfa-9455	48	21	international	international	ADJ
ajfa-9455	48	22	stock	stock	NOUN
ajfa-9455	48	23	markets	market	NOUN
ajfa-9455	48	24	differ	differ	VERB
ajfa-9455	48	25	(	(	PUNCT
ajfa-9455	48	26	capital	capital	NOUN
ajfa-9455	48	27	markets	market	NOUN
ajfa-9455	48	28	in	in	ADP
ajfa-9455	48	29	2025	2025	NUM
ajfa-9455	48	30	,	,	PUNCT
ajfa-9455	48	31	www.pwc.de	www.pwc.de	NOUN
ajfa-9455	48	32	)	)	PUNCT
ajfa-9455	48	33	.	.	PUNCT
ajfa-9455	49	1	the	the	DET
ajfa-9455	49	2	process	process	NOUN
ajfa-9455	49	3	of	of	ADP
ajfa-9455	49	4	integration	integration	NOUN
ajfa-9455	49	5	of	of	ADP
ajfa-9455	49	6	emerging	emerge	VERB
ajfa-9455	49	7	markets	market	NOUN
ajfa-9455	49	8	into	into	ADP
ajfa-9455	49	9	world	world	NOUN
ajfa-9455	49	10	markets	market	NOUN
ajfa-9455	49	11	is	be	AUX
ajfa-9455	49	12	incomplete	incomplete	ADJ
ajfa-9455	49	13	though	though	SCONJ
ajfa-9455	49	14	correlations	correlation	NOUN
ajfa-9455	49	15	between	between	ADP
ajfa-9455	49	16	developed	develop	VERB
ajfa-9455	49	17	and	and	CCONJ
ajfa-9455	49	18	emerging	emerge	VERB
ajfa-9455	49	19	markets	market	NOUN
ajfa-9455	49	20	have	have	AUX
ajfa-9455	49	21	increased	increase	VERB
ajfa-9455	49	22	(	(	PUNCT
ajfa-9455	49	23	bekaert	bekaert	NOUN
ajfa-9455	49	24	&	&	CCONJ
ajfa-9455	49	25	harvey	harvey	PROPN
ajfa-9455	49	26	,	,	PUNCT
ajfa-9455	49	27	2013	2013	NUM
ajfa-9455	49	28	)	)	PUNCT
ajfa-9455	49	29	.	.	PUNCT
ajfa-9455	50	1	moreover	moreover	ADV
ajfa-9455	50	2	,	,	PUNCT
ajfa-9455	50	3	the	the	DET
ajfa-9455	50	4	replication	replication	NOUN
ajfa-9455	50	5	of	of	ADP
ajfa-9455	50	6	the	the	DET
ajfa-9455	50	7	depth	depth	NOUN
ajfa-9455	50	8	of	of	ADP
ajfa-9455	50	9	institutional	institutional	ADJ
ajfa-9455	50	10	liquidity	liquidity	NOUN
ajfa-9455	50	11	,	,	PUNCT
ajfa-9455	50	12	the	the	DET
ajfa-9455	50	13	kind	kind	NOUN
ajfa-9455	50	14	of	of	ADP
ajfa-9455	50	15	infrastructure	infrastructure	NOUN
ajfa-9455	50	16	and	and	CCONJ
ajfa-9455	50	17	asian	asian	ADJ
ajfa-9455	50	18	journal	journal	NOUN
ajfa-9455	50	19	of	of	ADP
ajfa-9455	50	20	finance	finance	PROPN
ajfa-9455	50	21	&	&	CCONJ
ajfa-9455	50	22	accounting	accounting	PROPN
ajfa-9455	50	23	issn	issn	PROPN
ajfa-9455	50	24	1946	1946	NUM
ajfa-9455	50	25	-	-	PUNCT
ajfa-9455	50	26	052x	052x	PROPN
ajfa-9455	50	27	2016	2016	NUM
ajfa-9455	50	28	,	,	PUNCT
ajfa-9455	50	29	vol	vol	NOUN
ajfa-9455	50	30	.	.	PROPN
ajfa-9455	50	31	8	8	NUM
ajfa-9455	50	32	,	,	PUNCT
ajfa-9455	50	33	no	no	INTJ
ajfa-9455	50	34	.	.	NOUN
ajfa-9455	50	35	1	1	NUM
ajfa-9455	50	36	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-9455	50	37	216	216	NUM
ajfa-9455	50	38	pools	pool	NOUN
ajfa-9455	50	39	of	of	ADP
ajfa-9455	50	40	human	human	ADJ
ajfa-9455	50	41	capital	capital	NOUN
ajfa-9455	50	42	built	build	VERB
ajfa-9455	50	43	by	by	ADP
ajfa-9455	50	44	the	the	DET
ajfa-9455	50	45	developed	develop	VERB
ajfa-9455	50	46	markets	market	NOUN
ajfa-9455	50	47	organically	organically	ADV
ajfa-9455	50	48	is	be	AUX
ajfa-9455	50	49	very	very	ADV
ajfa-9455	50	50	difficult	difficult	ADJ
ajfa-9455	50	51	for	for	ADP
ajfa-9455	50	52	emerging	emerge	VERB
ajfa-9455	50	53	markets	market	NOUN
ajfa-9455	50	54	(	(	PUNCT
ajfa-9455	50	55	international	international	ADJ
ajfa-9455	50	56	equity	equity	NOUN
ajfa-9455	50	57	markets	market	NOUN
ajfa-9455	50	58	,	,	PUNCT
ajfa-9455	50	59	www.bauer.uh.edu	www.bauer.uh.edu	PROPN
ajfa-9455	50	60	)	)	PUNCT
ajfa-9455	50	61	.	.	PUNCT
ajfa-9455	51	1	furthermore	furthermore	ADV
ajfa-9455	51	2	,	,	PUNCT
ajfa-9455	51	3	emerging	emerge	VERB
ajfa-9455	51	4	markets	market	NOUN
ajfa-9455	51	5	are	be	AUX
ajfa-9455	51	6	heterogeneous	heterogeneous	ADJ
ajfa-9455	51	7	in	in	ADP
ajfa-9455	51	8	their	their	PRON
ajfa-9455	51	9	level	level	NOUN
ajfa-9455	51	10	of	of	ADP
ajfa-9455	51	11	development	development	NOUN
ajfa-9455	51	12	and	and	CCONJ
ajfa-9455	51	13	environmental	environmental	ADJ
ajfa-9455	51	14	surroundings	surrounding	NOUN
ajfa-9455	51	15	(	(	PUNCT
ajfa-9455	51	16	bianchi	bianchi	NOUN
ajfa-9455	51	17	,	,	PUNCT
ajfa-9455	51	18	2014	2014	NUM
ajfa-9455	51	19	)	)	PUNCT
ajfa-9455	51	20	.	.	PUNCT
ajfa-9455	52	1	thus	thus	ADV
ajfa-9455	52	2	,	,	PUNCT
ajfa-9455	52	3	'	'	PUNCT
ajfa-9455	52	4	developed	develop	VERB
ajfa-9455	52	5	'	'	PUNCT
ajfa-9455	52	6	and	and	CCONJ
ajfa-9455	52	7	'	'	PUNCT
ajfa-9455	52	8	emerging	emerge	VERB
ajfa-9455	52	9	'	'	PUNCT
ajfa-9455	52	10	markets	market	NOUN
ajfa-9455	52	11	are	be	AUX
ajfa-9455	52	12	realistically	realistically	ADV
ajfa-9455	52	13	different	different	ADJ
ajfa-9455	52	14	in	in	ADP
ajfa-9455	52	15	many	many	ADJ
ajfa-9455	52	16	aspects	aspect	NOUN
ajfa-9455	52	17	including	include	VERB
ajfa-9455	52	18	the	the	DET
ajfa-9455	52	19	structures	structure	NOUN
ajfa-9455	52	20	of	of	ADP
ajfa-9455	52	21	business	business	NOUN
ajfa-9455	52	22	organizations	organization	NOUN
ajfa-9455	52	23	.	.	PUNCT
ajfa-9455	53	1	an	an	DET
ajfa-9455	53	2	enormous	enormous	ADJ
ajfa-9455	53	3	scale	scale	NOUN
ajfa-9455	53	4	of	of	ADP
ajfa-9455	53	5	scholarly	scholarly	ADJ
ajfa-9455	53	6	interest	interest	NOUN
ajfa-9455	53	7	in	in	ADP
ajfa-9455	53	8	emerging	emerge	VERB
ajfa-9455	53	9	market	market	NOUN
ajfa-9455	53	10	phenomenon	phenomenon	NOUN
ajfa-9455	53	11	in	in	ADP
ajfa-9455	53	12	management	management	NOUN
ajfa-9455	53	13	discipline	discipline	NOUN
ajfa-9455	53	14	is	be	AUX
ajfa-9455	53	15	found	find	VERB
ajfa-9455	53	16	in	in	ADP
ajfa-9455	53	17	a	a	DET
ajfa-9455	53	18	casual	casual	ADJ
ajfa-9455	53	19	review	review	NOUN
ajfa-9455	53	20	of	of	ADP
ajfa-9455	53	21	academic	academic	ADJ
ajfa-9455	53	22	literature	literature	NOUN
ajfa-9455	53	23	on	on	ADP
ajfa-9455	53	24	emerging	emerge	VERB
ajfa-9455	53	25	markets	market	NOUN
ajfa-9455	53	26	(	(	PUNCT
ajfa-9455	53	27	merchant	merchant	NOUN
ajfa-9455	53	28	and	and	CCONJ
ajfa-9455	53	29	allen	allen	PROPN
ajfa-9455	53	30	-	-	PUNCT
ajfa-9455	53	31	ford	ford	NOUN
ajfa-9455	53	32	,	,	PUNCT
ajfa-9455	53	33	2012	2012	NUM
ajfa-9455	53	34	)	)	PUNCT
ajfa-9455	53	35	.	.	PUNCT
ajfa-9455	54	1	mandelker	mandelker	NOUN
ajfa-9455	54	2	and	and	CCONJ
ajfa-9455	54	3	rhee	rhee	PROPN
ajfa-9455	54	4	(	(	PUNCT
ajfa-9455	54	5	1984	1984	NUM
ajfa-9455	54	6	)	)	PUNCT
ajfa-9455	54	7	and	and	CCONJ
ajfa-9455	54	8	ang	ang	PROPN
ajfa-9455	54	9	and	and	CCONJ
ajfa-9455	54	10	peterson	peterson	PROPN
ajfa-9455	54	11	(	(	PUNCT
ajfa-9455	54	12	1984	1984	NUM
ajfa-9455	54	13	)	)	PUNCT
ajfa-9455	54	14	were	be	AUX
ajfa-9455	54	15	the	the	DET
ajfa-9455	54	16	pioneers	pioneer	NOUN
ajfa-9455	54	17	to	to	PART
ajfa-9455	54	18	use	use	VERB
ajfa-9455	54	19	the	the	DET
ajfa-9455	54	20	time	time	NOUN
ajfa-9455	54	21	-	-	PUNCT
ajfa-9455	54	22	series	series	NOUN
ajfa-9455	54	23	regression	regression	NOUN
ajfa-9455	54	24	method	method	NOUN
ajfa-9455	54	25	for	for	ADP
ajfa-9455	54	26	estimating	estimate	VERB
ajfa-9455	54	27	dol	dol	NOUN
ajfa-9455	54	28	and	and	CCONJ
ajfa-9455	54	29	dfl	dfl	PROPN
ajfa-9455	54	30	.	.	PUNCT
ajfa-9455	55	1	several	several	ADJ
ajfa-9455	55	2	studies	study	NOUN
ajfa-9455	55	3	(	(	PUNCT
ajfa-9455	55	4	e.g.	e.g.	ADV
ajfa-9455	55	5	huffman	huffman	PROPN
ajfa-9455	55	6	,	,	PUNCT
ajfa-9455	55	7	1989	1989	NUM
ajfa-9455	55	8	;	;	PUNCT
ajfa-9455	55	9	deyoung	deyoung	PROPN
ajfa-9455	55	10	&	&	CCONJ
ajfa-9455	55	11	roland	roland	PROPN
ajfa-9455	55	12	,	,	PUNCT
ajfa-9455	55	13	2001	2001	NUM
ajfa-9455	55	14	;	;	PUNCT
ajfa-9455	55	15	griffin	griffin	PROPN
ajfa-9455	55	16	&	&	CCONJ
ajfa-9455	55	17	dugan	dugan	PROPN
ajfa-9455	55	18	,	,	PUNCT
ajfa-9455	55	19	2003	2003	NUM
ajfa-9455	55	20	;	;	PUNCT
ajfa-9455	55	21	ho	ho	PROPN
ajfa-9455	55	22	,	,	PUNCT
ajfa-9455	55	23	xu	xu	PROPN
ajfa-9455	55	24	,	,	PUNCT
ajfa-9455	55	25	&	&	CCONJ
ajfa-9455	55	26	yap	yap	PROPN
ajfa-9455	55	27	,	,	PUNCT
ajfa-9455	55	28	2004	2004	NUM
ajfa-9455	55	29	;	;	PUNCT
ajfa-9455	55	30	garcia	garcia	PROPN
ajfa-9455	55	31	&	&	CCONJ
ajfa-9455	55	32	jorgensen	jorgensen	PROPN
ajfa-9455	55	33	,	,	PUNCT
ajfa-9455	55	34	2010	2010	NUM
ajfa-9455	55	35	)	)	PUNCT
ajfa-9455	55	36	used	use	VERB
ajfa-9455	55	37	this	this	DET
ajfa-9455	55	38	method	method	NOUN
ajfa-9455	55	39	of	of	ADP
ajfa-9455	55	40	estimation	estimation	NOUN
ajfa-9455	55	41	of	of	ADP
ajfa-9455	55	42	dol	dol	NOUN
ajfa-9455	55	43	and	and	CCONJ
ajfa-9455	55	44	dfl	dfl	PROPN
ajfa-9455	55	45	.	.	PUNCT
ajfa-9455	56	1	however	however	ADV
ajfa-9455	56	2	,	,	PUNCT
ajfa-9455	56	3	a	a	DET
ajfa-9455	56	4	point	point	NOUN
ajfa-9455	56	5	-	-	PUNCT
ajfa-9455	56	6	to	to	ADP
ajfa-9455	56	7	-	-	PUNCT
ajfa-9455	56	8	point	point	NOUN
ajfa-9455	56	9	method	method	NOUN
ajfa-9455	56	10	has	have	AUX
ajfa-9455	56	11	also	also	ADV
ajfa-9455	56	12	been	be	AUX
ajfa-9455	56	13	used	use	VERB
ajfa-9455	56	14	extensively	extensively	ADV
ajfa-9455	56	15	in	in	ADP
ajfa-9455	56	16	the	the	DET
ajfa-9455	56	17	literature	literature	NOUN
ajfa-9455	56	18	for	for	ADP
ajfa-9455	56	19	estimating	estimate	VERB
ajfa-9455	56	20	dol	dol	NOUN
ajfa-9455	56	21	and	and	CCONJ
ajfa-9455	56	22	dfl	dfl	PROPN
ajfa-9455	56	23	(	(	PUNCT
ajfa-9455	56	24	garcia	garcia	PROPN
ajfa-9455	56	25	&	&	CCONJ
ajfa-9455	56	26	jorgensen	jorgensen	PROPN
ajfa-9455	56	27	,	,	PUNCT
ajfa-9455	56	28	2010	2010	NUM
ajfa-9455	56	29	)	)	PUNCT
ajfa-9455	56	30	.	.	PUNCT
ajfa-9455	57	1	the	the	DET
ajfa-9455	57	2	point	point	NOUN
ajfa-9455	57	3	-	-	PUNCT
ajfa-9455	57	4	to	to	ADP
ajfa-9455	57	5	-	-	PUNCT
ajfa-9455	57	6	point	point	NOUN
ajfa-9455	57	7	approach	approach	NOUN
ajfa-9455	57	8	estimates	estimate	VERB
ajfa-9455	57	9	dol	dol	NOUN
ajfa-9455	57	10	and	and	CCONJ
ajfa-9455	57	11	dfl	dfl	PROPN
ajfa-9455	57	12	as	as	ADP
ajfa-9455	57	13	net	net	ADJ
ajfa-9455	57	14	fixed	fix	VERB
ajfa-9455	57	15	assets	asset	NOUN
ajfa-9455	57	16	to	to	PART
ajfa-9455	57	17	total	total	VERB
ajfa-9455	57	18	assets	asset	NOUN
ajfa-9455	57	19	ratio	ratio	NOUN
ajfa-9455	57	20	(	(	PUNCT
ajfa-9455	57	21	ferri	ferri	PROPN
ajfa-9455	57	22	&	&	CCONJ
ajfa-9455	57	23	jones	jones	PROPN
ajfa-9455	57	24	,	,	PUNCT
ajfa-9455	57	25	1979	1979	NUM
ajfa-9455	57	26	;	;	PUNCT
ajfa-9455	57	27	mandelker	mandelker	NOUN
ajfa-9455	57	28	&	&	CCONJ
ajfa-9455	57	29	rhee	rhee	PROPN
ajfa-9455	57	30	,	,	PUNCT
ajfa-9455	57	31	1984	1984	NUM
ajfa-9455	57	32	;	;	PUNCT
ajfa-9455	57	33	garcia	garcia	PROPN
ajfa-9455	57	34	&	&	CCONJ
ajfa-9455	57	35	jorgensen	jorgensen	PROPN
ajfa-9455	57	36	,	,	PUNCT
ajfa-9455	57	37	2010	2010	NUM
ajfa-9455	57	38	)	)	PUNCT
ajfa-9455	57	39	and	and	CCONJ
ajfa-9455	57	40	total	total	ADJ
ajfa-9455	57	41	debt	debt	NOUN
ajfa-9455	57	42	to	to	ADP
ajfa-9455	57	43	total	total	ADJ
ajfa-9455	57	44	assets	asset	NOUN
ajfa-9455	57	45	ratio	ratio	NOUN
ajfa-9455	57	46	(	(	PUNCT
ajfa-9455	57	47	mandelker	mandelker	NOUN
ajfa-9455	57	48	&	&	CCONJ
ajfa-9455	57	49	rhee	rhee	PROPN
ajfa-9455	57	50	,	,	PUNCT
ajfa-9455	57	51	1984	1984	NUM
ajfa-9455	57	52	;	;	PUNCT
ajfa-9455	57	53	garcia	garcia	PROPN
ajfa-9455	57	54	&	&	CCONJ
ajfa-9455	57	55	jorgensen	jorgensen	PROPN
ajfa-9455	57	56	,	,	PUNCT
ajfa-9455	57	57	2010	2010	NUM
ajfa-9455	57	58	)	)	PUNCT
ajfa-9455	57	59	,	,	PUNCT
ajfa-9455	57	60	respectively	respectively	ADV
ajfa-9455	57	61	.	.	PUNCT
ajfa-9455	58	1	our	our	PRON
ajfa-9455	58	2	study	study	NOUN
ajfa-9455	58	3	takes	take	VERB
ajfa-9455	58	4	the	the	DET
ajfa-9455	58	5	point	point	NOUN
ajfa-9455	58	6	-	-	PUNCT
ajfa-9455	58	7	to	to	ADP
ajfa-9455	58	8	-	-	PUNCT
ajfa-9455	58	9	point	point	NOUN
ajfa-9455	58	10	approach	approach	NOUN
ajfa-9455	58	11	to	to	PART
ajfa-9455	58	12	measure	measure	VERB
ajfa-9455	58	13	dol	dol	NOUN
ajfa-9455	58	14	and	and	CCONJ
ajfa-9455	58	15	dfl	dfl	PROPN
ajfa-9455	58	16	.	.	PUNCT
ajfa-9455	59	1	moreover	moreover	ADV
ajfa-9455	59	2	,	,	PUNCT
ajfa-9455	59	3	the	the	DET
ajfa-9455	59	4	study	study	NOUN
ajfa-9455	59	5	of	of	ADP
ajfa-9455	59	6	garcia	garcia	PROPN
ajfa-9455	59	7	and	and	CCONJ
ajfa-9455	59	8	jorgensen	jorgensen	PROPN
ajfa-9455	59	9	(	(	PUNCT
ajfa-9455	59	10	2010	2010	NUM
ajfa-9455	59	11	)	)	PUNCT
ajfa-9455	59	12	find	find	VERB
ajfa-9455	59	13	similar	similar	ADJ
ajfa-9455	59	14	results	result	NOUN
ajfa-9455	59	15	from	from	ADP
ajfa-9455	59	16	both	both	CCONJ
ajfa-9455	59	17	the	the	DET
ajfa-9455	59	18	approaches	approach	NOUN
ajfa-9455	59	19	.	.	PUNCT
ajfa-9455	60	1	when	when	SCONJ
ajfa-9455	60	2	making	make	VERB
ajfa-9455	60	3	equity	equity	NOUN
ajfa-9455	60	4	valuation	valuation	NOUN
ajfa-9455	60	5	decisions	decision	NOUN
ajfa-9455	60	6	investors	investor	NOUN
ajfa-9455	60	7	consider	consider	VERB
ajfa-9455	60	8	firms	firm	NOUN
ajfa-9455	60	9	'	'	PART
ajfa-9455	60	10	fundamentals	fundamental	NOUN
ajfa-9455	60	11	as	as	SCONJ
ajfa-9455	60	12	reflected	reflect	VERB
ajfa-9455	60	13	in	in	ADP
ajfa-9455	60	14	financial	financial	ADJ
ajfa-9455	60	15	statements	statement	NOUN
ajfa-9455	60	16	.	.	PUNCT
ajfa-9455	61	1	however	however	ADV
ajfa-9455	61	2	,	,	PUNCT
ajfa-9455	61	3	which	which	DET
ajfa-9455	61	4	line	line	NOUN
ajfa-9455	61	5	item	item	NOUN
ajfa-9455	61	6	is	be	AUX
ajfa-9455	61	7	more	more	ADV
ajfa-9455	61	8	important	important	ADJ
ajfa-9455	61	9	for	for	ADP
ajfa-9455	61	10	equity	equity	NOUN
ajfa-9455	61	11	valuation	valuation	NOUN
ajfa-9455	61	12	is	be	AUX
ajfa-9455	61	13	an	an	DET
ajfa-9455	61	14	important	important	ADJ
ajfa-9455	61	15	consideration	consideration	NOUN
ajfa-9455	61	16	(	(	PUNCT
ajfa-9455	61	17	habib	habib	NOUN
ajfa-9455	61	18	,	,	PUNCT
ajfa-9455	61	19	2010	2010	NUM
ajfa-9455	61	20	)	)	PUNCT
ajfa-9455	61	21	.	.	PUNCT
ajfa-9455	62	1	cheng	cheng	PROPN
ajfa-9455	62	2	and	and	CCONJ
ajfa-9455	62	3	tzeng	tzeng	PROPN
ajfa-9455	62	4	(	(	PUNCT
ajfa-9455	62	5	2011	2011	NUM
ajfa-9455	62	6	)	)	PUNCT
ajfa-9455	62	7	explored	explore	VERB
ajfa-9455	62	8	the	the	DET
ajfa-9455	62	9	impact	impact	NOUN
ajfa-9455	62	10	of	of	ADP
ajfa-9455	62	11	leverage	leverage	NOUN
ajfa-9455	62	12	on	on	ADP
ajfa-9455	62	13	firm	firm	ADJ
ajfa-9455	62	14	value	value	NOUN
ajfa-9455	62	15	and	and	CCONJ
ajfa-9455	62	16	how	how	SCONJ
ajfa-9455	62	17	does	do	AUX
ajfa-9455	62	18	the	the	DET
ajfa-9455	62	19	firm	firm	ADJ
ajfa-9455	62	20	financial	financial	ADJ
ajfa-9455	62	21	quality	quality	NOUN
ajfa-9455	62	22	influence	influence	NOUN
ajfa-9455	62	23	this	this	DET
ajfa-9455	62	24	impact	impact	NOUN
ajfa-9455	62	25	of	of	ADP
ajfa-9455	62	26	leverage	leverage	NOUN
ajfa-9455	62	27	on	on	ADP
ajfa-9455	62	28	firm	firm	ADJ
ajfa-9455	62	29	value	value	NOUN
ajfa-9455	62	30	?	?	PUNCT
ajfa-9455	63	1	they	they	PRON
ajfa-9455	63	2	find	find	VERB
ajfa-9455	63	3	the	the	DET
ajfa-9455	63	4	positive	positive	ADJ
ajfa-9455	63	5	relationship	relationship	NOUN
ajfa-9455	63	6	between	between	ADP
ajfa-9455	63	7	leverage	leverage	NOUN
ajfa-9455	63	8	and	and	CCONJ
ajfa-9455	63	9	firm	firm	ADJ
ajfa-9455	63	10	value	value	NOUN
ajfa-9455	63	11	when	when	SCONJ
ajfa-9455	63	12	the	the	DET
ajfa-9455	63	13	firm	firm	ADJ
ajfa-9455	63	14	financial	financial	ADJ
ajfa-9455	63	15	quality	quality	NOUN
ajfa-9455	63	16	is	be	AUX
ajfa-9455	63	17	better	well	ADJ
ajfa-9455	63	18	.	.	PUNCT
ajfa-9455	64	1	kumar	kumar	PROPN
ajfa-9455	64	2	and	and	CCONJ
ajfa-9455	64	3	warne	warne	PROPN
ajfa-9455	64	4	(	(	PUNCT
ajfa-9455	64	5	2009	2009	NUM
ajfa-9455	64	6	)	)	PUNCT
ajfa-9455	64	7	find	find	VERB
ajfa-9455	64	8	two	two	NUM
ajfa-9455	64	9	most	most	ADV
ajfa-9455	64	10	significant	significant	ADJ
ajfa-9455	64	11	parametric	parametric	ADJ
ajfa-9455	64	12	determinants	determinant	NOUN
ajfa-9455	64	13	,	,	PUNCT
ajfa-9455	64	14	variability	variability	NOUN
ajfa-9455	64	15	in	in	ADP
ajfa-9455	64	16	market	market	NOUN
ajfa-9455	64	17	price	price	NOUN
ajfa-9455	64	18	and	and	CCONJ
ajfa-9455	64	19	corporate	corporate	ADJ
ajfa-9455	64	20	size	size	NOUN
ajfa-9455	64	21	,	,	PUNCT
ajfa-9455	64	22	of	of	ADP
ajfa-9455	64	23	pe	pe	PROPN
ajfa-9455	64	24	ratio	ratio	NOUN
ajfa-9455	64	25	in	in	ADP
ajfa-9455	64	26	the	the	DET
ajfa-9455	64	27	context	context	NOUN
ajfa-9455	64	28	of	of	ADP
ajfa-9455	64	29	indian	indian	ADJ
ajfa-9455	64	30	capital	capital	NOUN
ajfa-9455	64	31	market	market	NOUN
ajfa-9455	64	32	.	.	PUNCT
ajfa-9455	65	1	anderson	anderson	PROPN
ajfa-9455	65	2	and	and	CCONJ
ajfa-9455	65	3	brooks	brooks	PROPN
ajfa-9455	65	4	(	(	PUNCT
ajfa-9455	65	5	2006	2006	NUM
ajfa-9455	65	6	)	)	PUNCT
ajfa-9455	65	7	find	find	VERB
ajfa-9455	65	8	that	that	SCONJ
ajfa-9455	65	9	the	the	DET
ajfa-9455	65	10	size	size	NOUN
ajfa-9455	65	11	of	of	ADP
ajfa-9455	65	12	the	the	DET
ajfa-9455	65	13	firm	firm	NOUN
ajfa-9455	65	14	,	,	PUNCT
ajfa-9455	65	15	the	the	DET
ajfa-9455	65	16	year	year	NOUN
ajfa-9455	65	17	in	in	ADP
ajfa-9455	65	18	which	which	PRON
ajfa-9455	65	19	pe	pe	PROPN
ajfa-9455	65	20	ratio	ratio	NOUN
ajfa-9455	65	21	is	be	AUX
ajfa-9455	65	22	measured	measure	VERB
ajfa-9455	65	23	and	and	CCONJ
ajfa-9455	65	24	the	the	DET
ajfa-9455	65	25	industry	industry	NOUN
ajfa-9455	65	26	effect	effect	NOUN
ajfa-9455	65	27	are	be	AUX
ajfa-9455	65	28	the	the	DET
ajfa-9455	65	29	most	most	ADV
ajfa-9455	65	30	influencing	influence	VERB
ajfa-9455	65	31	factors	factor	NOUN
ajfa-9455	65	32	of	of	ADP
ajfa-9455	65	33	firms	firm	NOUN
ajfa-9455	65	34	'	'	PART
ajfa-9455	65	35	pe	pe	PROPN
ajfa-9455	65	36	ratios	ratio	NOUN
ajfa-9455	65	37	.	.	PUNCT
ajfa-9455	66	1	sharma	sharma	PROPN
ajfa-9455	66	2	(	(	PUNCT
ajfa-9455	66	3	2006	2006	NUM
ajfa-9455	66	4	)	)	PUNCT
ajfa-9455	66	5	finds	find	VERB
ajfa-9455	66	6	a	a	DET
ajfa-9455	66	7	significant	significant	ADJ
ajfa-9455	66	8	correlation	correlation	NOUN
ajfa-9455	66	9	between	between	ADP
ajfa-9455	66	10	firms	firm	NOUN
ajfa-9455	66	11	'	'	PART
ajfa-9455	66	12	value	value	NOUN
ajfa-9455	66	13	and	and	CCONJ
ajfa-9455	66	14	financial	financial	ADJ
ajfa-9455	66	15	leverage	leverage	NOUN
ajfa-9455	66	16	.	.	PUNCT
ajfa-9455	67	1	a	a	DET
ajfa-9455	67	2	significant	significant	ADJ
ajfa-9455	67	3	portion	portion	NOUN
ajfa-9455	67	4	of	of	ADP
ajfa-9455	67	5	the	the	DET
ajfa-9455	67	6	variations	variation	NOUN
ajfa-9455	67	7	in	in	ADP
ajfa-9455	67	8	pe	pe	PROPN
ajfa-9455	67	9	ratios	ratio	NOUN
ajfa-9455	67	10	is	be	AUX
ajfa-9455	67	11	explained	explain	VERB
ajfa-9455	67	12	by	by	ADP
ajfa-9455	67	13	the	the	DET
ajfa-9455	67	14	selection	selection	NOUN
ajfa-9455	67	15	of	of	ADP
ajfa-9455	67	16	firms	firm	NOUN
ajfa-9455	67	17	based	base	VERB
ajfa-9455	67	18	upon	upon	SCONJ
ajfa-9455	67	19	industry	industry	NOUN
ajfa-9455	67	20	(	(	PUNCT
ajfa-9455	67	21	alford	alford	NOUN
ajfa-9455	67	22	,	,	PUNCT
ajfa-9455	67	23	1992	1992	NUM
ajfa-9455	67	24	)	)	PUNCT
ajfa-9455	67	25	.	.	PUNCT
ajfa-9455	68	1	pe	pe	PROPN
ajfa-9455	68	2	ratio	ratio	NOUN
ajfa-9455	68	3	,	,	PUNCT
ajfa-9455	68	4	first	first	ADV
ajfa-9455	68	5	introduced	introduce	VERB
ajfa-9455	68	6	in	in	ADP
ajfa-9455	68	7	literature	literature	NOUN
ajfa-9455	68	8	by	by	ADP
ajfa-9455	68	9	graham	graham	PROPN
ajfa-9455	68	10	and	and	CCONJ
ajfa-9455	68	11	dodd	dodd	PROPN
ajfa-9455	68	12	(	(	PUNCT
ajfa-9455	68	13	1934	1934	NUM
ajfa-9455	68	14	)	)	PUNCT
ajfa-9455	68	15	as	as	ADP
ajfa-9455	68	16	a	a	DET
ajfa-9455	68	17	benchmark	benchmark	NOUN
ajfa-9455	68	18	for	for	ADP
ajfa-9455	68	19	equity	equity	NOUN
ajfa-9455	68	20	valuation	valuation	NOUN
ajfa-9455	68	21	,	,	PUNCT
ajfa-9455	68	22	has	have	VERB
ajfa-9455	68	23	the	the	DET
ajfa-9455	68	24	application	application	NOUN
ajfa-9455	68	25	based	base	VERB
ajfa-9455	68	26	on	on	ADP
ajfa-9455	68	27	the	the	DET
ajfa-9455	68	28	idea	idea	NOUN
ajfa-9455	68	29	that	that	SCONJ
ajfa-9455	68	30	earnings	earning	NOUN
ajfa-9455	68	31	are	be	AUX
ajfa-9455	68	32	related	relate	VERB
ajfa-9455	68	33	to	to	ADP
ajfa-9455	68	34	value	value	NOUN
ajfa-9455	68	35	(	(	PUNCT
ajfa-9455	68	36	stefanis	stefanis	NOUN
ajfa-9455	68	37	,	,	PUNCT
ajfa-9455	68	38	2005	2005	NUM
ajfa-9455	68	39	)	)	PUNCT
ajfa-9455	68	40	.	.	PUNCT
ajfa-9455	69	1	there	there	PRON
ajfa-9455	69	2	were	be	VERB
ajfa-9455	69	3	of	of	ADP
ajfa-9455	69	4	considerable	considerable	ADJ
ajfa-9455	69	5	interests	interest	NOUN
ajfa-9455	69	6	to	to	PART
ajfa-9455	69	7	be	be	AUX
ajfa-9455	69	8	known	know	VERB
ajfa-9455	69	9	about	about	ADP
ajfa-9455	69	10	the	the	DET
ajfa-9455	69	11	behaviour	behaviour	NOUN
ajfa-9455	69	12	of	of	ADP
ajfa-9455	69	13	pe	pe	PROPN
ajfa-9455	69	14	ratio	ratio	NOUN
ajfa-9455	69	15	overtime	overtime	NOUN
ajfa-9455	69	16	and	and	CCONJ
ajfa-9455	69	17	the	the	DET
ajfa-9455	69	18	relative	relative	ADJ
ajfa-9455	69	19	importance	importance	NOUN
ajfa-9455	69	20	of	of	ADP
ajfa-9455	69	21	the	the	DET
ajfa-9455	69	22	factors	factor	NOUN
ajfa-9455	69	23	influencing	influence	VERB
ajfa-9455	69	24	its	its	PRON
ajfa-9455	69	25	behaviour	behaviour	NOUN
ajfa-9455	69	26	(	(	PUNCT
ajfa-9455	69	27	beaver	beaver	PROPN
ajfa-9455	69	28	&	&	CCONJ
ajfa-9455	69	29	morse	morse	PROPN
ajfa-9455	69	30	,	,	PUNCT
ajfa-9455	69	31	1978	1978	NUM
ajfa-9455	69	32	)	)	PUNCT
ajfa-9455	69	33	.	.	PUNCT
ajfa-9455	70	1	our	our	PRON
ajfa-9455	70	2	study	study	NOUN
ajfa-9455	70	3	takes	take	VERB
ajfa-9455	70	4	book	book	NOUN
ajfa-9455	70	5	values	value	NOUN
ajfa-9455	70	6	of	of	ADP
ajfa-9455	70	7	degrees	degree	NOUN
ajfa-9455	70	8	of	of	ADP
ajfa-9455	70	9	operating	operating	NOUN
ajfa-9455	70	10	and	and	CCONJ
ajfa-9455	70	11	financial	financial	ADJ
ajfa-9455	70	12	leverage	leverage	NOUN
ajfa-9455	70	13	to	to	PART
ajfa-9455	70	14	investigate	investigate	VERB
ajfa-9455	70	15	their	their	PRON
ajfa-9455	70	16	influence	influence	NOUN
ajfa-9455	70	17	over	over	ADP
ajfa-9455	70	18	pe	pe	PROPN
ajfa-9455	70	19	ratio	ratio	NOUN
ajfa-9455	70	20	to	to	PART
ajfa-9455	70	21	value	value	VERB
ajfa-9455	70	22	the	the	DET
ajfa-9455	70	23	firms	firm	NOUN
ajfa-9455	70	24	as	as	SCONJ
ajfa-9455	70	25	there	there	PRON
ajfa-9455	70	26	is	be	VERB
ajfa-9455	70	27	a	a	DET
ajfa-9455	70	28	maintained	maintain	VERB
ajfa-9455	70	29	popularity	popularity	NOUN
ajfa-9455	70	30	of	of	ADP
ajfa-9455	70	31	using	use	VERB
ajfa-9455	70	32	pe	pe	PROPN
ajfa-9455	70	33	approach	approach	NOUN
ajfa-9455	70	34	to	to	ADP
ajfa-9455	70	35	security	security	NOUN
ajfa-9455	70	36	/	/	SYM
ajfa-9455	70	37	equity	equity	NOUN
ajfa-9455	70	38	valuation	valuation	NOUN
ajfa-9455	70	39	among	among	ADP
ajfa-9455	70	40	practitioners	practitioner	NOUN
ajfa-9455	70	41	and	and	CCONJ
ajfa-9455	70	42	academics	academic	NOUN
ajfa-9455	70	43	due	due	ADP
ajfa-9455	70	44	to	to	ADP
ajfa-9455	70	45	its	its	PRON
ajfa-9455	70	46	simplicity	simplicity	NOUN
ajfa-9455	70	47	(	(	PUNCT
ajfa-9455	70	48	pari	pari	PROPN
ajfa-9455	70	49	,	,	PUNCT
ajfa-9455	70	50	carvell	carvell	PROPN
ajfa-9455	70	51	&	&	CCONJ
ajfa-9455	70	52	sullivan	sullivan	PROPN
ajfa-9455	70	53	,	,	PUNCT
ajfa-9455	70	54	1989	1989	NUM
ajfa-9455	70	55	;	;	PUNCT
ajfa-9455	70	56	lie	lie	NOUN
ajfa-9455	70	57	&	&	CCONJ
ajfa-9455	70	58	lie	lie	PROPN
ajfa-9455	70	59	,	,	PUNCT
ajfa-9455	70	60	2002	2002	NUM
ajfa-9455	70	61	)	)	PUNCT
ajfa-9455	70	62	.	.	PUNCT
ajfa-9455	71	1	an	an	DET
ajfa-9455	71	2	accurate	accurate	ADJ
ajfa-9455	71	3	measure	measure	NOUN
ajfa-9455	71	4	of	of	ADP
ajfa-9455	71	5	equity	equity	NOUN
ajfa-9455	71	6	valuation	valuation	NOUN
ajfa-9455	71	7	is	be	AUX
ajfa-9455	71	8	the	the	DET
ajfa-9455	71	9	pe	pe	PROPN
ajfa-9455	71	10	ratio	ratio	NOUN
ajfa-9455	71	11	found	find	VERB
ajfa-9455	71	12	in	in	ADP
ajfa-9455	71	13	the	the	DET
ajfa-9455	71	14	study	study	NOUN
ajfa-9455	71	15	of	of	ADP
ajfa-9455	71	16	alford	alford	PROPN
ajfa-9455	71	17	(	(	PUNCT
ajfa-9455	71	18	1992	1992	NUM
ajfa-9455	71	19	)	)	PUNCT
ajfa-9455	71	20	.	.	PUNCT
ajfa-9455	72	1	with	with	ADP
ajfa-9455	72	2	these	these	DET
ajfa-9455	72	3	arguments	argument	NOUN
ajfa-9455	72	4	,	,	PUNCT
ajfa-9455	72	5	an	an	DET
ajfa-9455	72	6	alternative	alternative	ADJ
ajfa-9455	72	7	hypothesis	hypothesis	NOUN
ajfa-9455	72	8	of	of	ADP
ajfa-9455	72	9	this	this	DET
ajfa-9455	72	10	study	study	NOUN
ajfa-9455	72	11	is	be	AUX
ajfa-9455	72	12	proposed	propose	VERB
ajfa-9455	72	13	at	at	ADP
ajfa-9455	72	14	firm	firm	ADJ
ajfa-9455	72	15	level	level	NOUN
ajfa-9455	72	16	.	.	PUNCT
ajfa-9455	73	1	hypothesis	hypothesis	NOUN
ajfa-9455	73	2	:	:	PUNCT
ajfa-9455	73	3	at	at	ADP
ajfa-9455	73	4	firm	firm	ADJ
ajfa-9455	73	5	level	level	NOUN
ajfa-9455	73	6	,	,	PUNCT
ajfa-9455	73	7	degrees	degree	NOUN
ajfa-9455	73	8	of	of	ADP
ajfa-9455	73	9	operating	operate	VERB
ajfa-9455	73	10	and	and	CCONJ
ajfa-9455	73	11	financial	financial	ADJ
ajfa-9455	73	12	leverage	leverage	NOUN
ajfa-9455	73	13	are	be	AUX
ajfa-9455	73	14	associated	associate	VERB
ajfa-9455	73	15	with	with	ADP
ajfa-9455	73	16	firm	firm	ADJ
ajfa-9455	73	17	value	value	NOUN
ajfa-9455	73	18	(	(	PUNCT
ajfa-9455	73	19	pe	pe	NOUN
ajfa-9455	73	20	ratio	ratio	NOUN
ajfa-9455	73	21	)	)	PUNCT
ajfa-9455	73	22	.	.	PUNCT
ajfa-9455	74	1	asian	asian	ADJ
ajfa-9455	74	2	journal	journal	PROPN
ajfa-9455	74	3	of	of	ADP
ajfa-9455	74	4	finance	finance	PROPN
ajfa-9455	74	5	&	&	CCONJ
ajfa-9455	74	6	accounting	accounting	PROPN
ajfa-9455	74	7	issn	issn	PROPN
ajfa-9455	74	8	1946	1946	NUM
ajfa-9455	74	9	-	-	PUNCT
ajfa-9455	74	10	052x	052x	PROPN
ajfa-9455	74	11	2016	2016	NUM
ajfa-9455	74	12	,	,	PUNCT
ajfa-9455	74	13	vol	vol	NOUN
ajfa-9455	74	14	.	.	PROPN
ajfa-9455	74	15	8	8	NUM
ajfa-9455	74	16	,	,	PUNCT
ajfa-9455	74	17	no	no	INTJ
ajfa-9455	74	18	.	.	NOUN
ajfa-9455	74	19	1	1	NUM
ajfa-9455	74	20	ajfa.macrothink.org	ajfa.macrothink.org	PROPN
ajfa-9455	74	21	217	217	NUM
ajfa-9455	74	22	other	other	ADJ
ajfa-9455	74	23	than	than	ADP
ajfa-9455	74	24	the	the	DET
ajfa-9455	74	25	main	main	ADJ
ajfa-9455	74	26	interest	interest	NOUN
ajfa-9455	74	27	variables	variable	NOUN
ajfa-9455	74	28	(	(	PUNCT
ajfa-9455	74	29	dol	dol	NOUN
ajfa-9455	74	30	and	and	CCONJ
ajfa-9455	74	31	dfl	dfl	PROPN
ajfa-9455	74	32	)	)	PUNCT
ajfa-9455	74	33	,	,	PUNCT
ajfa-9455	74	34	there	there	PRON
ajfa-9455	74	35	are	be	VERB
ajfa-9455	74	36	some	some	DET
ajfa-9455	74	37	other	other	ADJ
ajfa-9455	74	38	firm	firm	ADJ
ajfa-9455	74	39	-	-	PUNCT
ajfa-9455	74	40	level	level	NOUN
ajfa-9455	74	41	factors	factor	NOUN
ajfa-9455	74	42	which	which	PRON
ajfa-9455	74	43	could	could	AUX
ajfa-9455	74	44	influence	influence	VERB
ajfa-9455	74	45	the	the	DET
ajfa-9455	74	46	firm	firm	ADJ
ajfa-9455	74	47	value	value	NOUN
ajfa-9455	74	48	and	and	CCONJ
ajfa-9455	74	49	these	these	DET
ajfa-9455	74	50	firm	firm	ADJ
ajfa-9455	74	51	-	-	PUNCT
ajfa-9455	74	52	level	level	NOUN
ajfa-9455	74	53	factors	factor	NOUN
ajfa-9455	74	54	are	be	AUX
ajfa-9455	74	55	to	to	PART
ajfa-9455	74	56	be	be	AUX
ajfa-9455	74	57	controlled	control	VERB
ajfa-9455	74	58	to	to	PART
ajfa-9455	74	59	improve	improve	VERB
ajfa-9455	74	60	the	the	DET
ajfa-9455	74	61	explanatory	explanatory	ADJ
ajfa-9455	74	62	power	power	NOUN
ajfa-9455	74	63	of	of	ADP
ajfa-9455	74	64	interest	interest	NOUN
ajfa-9455	74	65	variables	variable	NOUN
ajfa-9455	74	66	.	.	PUNCT
ajfa-9455	75	1	an	an	DET
ajfa-9455	75	2	essential	essential	ADJ
ajfa-9455	75	3	aspect	aspect	NOUN
ajfa-9455	75	4	of	of	ADP
ajfa-9455	75	5	a	a	DET
ajfa-9455	75	6	research	research	NOUN
ajfa-9455	75	7	into	into	ADP
ajfa-9455	75	8	a	a	DET
ajfa-9455	75	9	business	business	NOUN
ajfa-9455	75	10	activity	activity	NOUN
ajfa-9455	75	11	must	must	AUX
ajfa-9455	75	12	include	include	VERB
ajfa-9455	75	13	the	the	DET
ajfa-9455	75	14	firm	firm	ADJ
ajfa-9455	75	15	size	size	NOUN
ajfa-9455	75	16	(	(	PUNCT
ajfa-9455	75	17	zadeh	zadeh	PROPN
ajfa-9455	75	18	&	&	CCONJ
ajfa-9455	75	19	eskandari	eskandari	PROPN
ajfa-9455	75	20	,	,	PUNCT
ajfa-9455	75	21	2012	2012	NUM
ajfa-9455	75	22	)	)	PUNCT
ajfa-9455	75	23	.	.	PUNCT
ajfa-9455	76	1	al	al	PROPN
ajfa-9455	76	2	-	-	PUNCT
ajfa-9455	76	3	khazali	khazali	PROPN
ajfa-9455	76	4	and	and	CCONJ
ajfa-9455	76	5	zoubi	zoubi	PROPN
ajfa-9455	76	6	(	(	PUNCT
ajfa-9455	76	7	2005	2005	NUM
ajfa-9455	76	8	)	)	PUNCT
ajfa-9455	76	9	reported	report	VERB
ajfa-9455	76	10	that	that	SCONJ
ajfa-9455	76	11	accounting	accounting	NOUN
ajfa-9455	76	12	studies	study	NOUN
ajfa-9455	76	13	used	use	VERB
ajfa-9455	76	14	size	size	NOUN
ajfa-9455	76	15	of	of	ADP
ajfa-9455	76	16	the	the	DET
ajfa-9455	76	17	firms	firm	NOUN
ajfa-9455	76	18	to	to	PART
ajfa-9455	76	19	explain	explain	VERB
ajfa-9455	76	20	differences	difference	NOUN
ajfa-9455	76	21	across	across	ADP
ajfa-9455	76	22	firms	firm	NOUN
ajfa-9455	76	23	in	in	ADP
ajfa-9455	76	24	their	their	PRON
ajfa-9455	76	25	methods	method	NOUN
ajfa-9455	76	26	of	of	ADP
ajfa-9455	76	27	accounting	accounting	NOUN
ajfa-9455	76	28	and	and	CCONJ
ajfa-9455	76	29	decisions	decision	NOUN
ajfa-9455	76	30	related	relate	VERB
ajfa-9455	76	31	to	to	ADP
ajfa-9455	76	32	corporate	corporate	ADJ
ajfa-9455	76	33	disclosures	disclosure	NOUN
ajfa-9455	76	34	(	(	PUNCT
ajfa-9455	76	35	jensen	jensen	PROPN
ajfa-9455	76	36	&	&	CCONJ
ajfa-9455	76	37	meckling	meckling	PROPN
ajfa-9455	76	38	,	,	PUNCT
ajfa-9455	76	39	1978	1978	NUM
ajfa-9455	76	40	;	;	PUNCT
ajfa-9455	76	41	deakin	deakin	PROPN
ajfa-9455	76	42	,	,	PUNCT
ajfa-9455	76	43	1979	1979	NUM
ajfa-9455	76	44	,	,	PUNCT
ajfa-9455	76	45	collins	collins	PROPN
ajfa-9455	76	46	,	,	PUNCT
ajfa-9455	76	47	rozeff	rozeff	PROPN
ajfa-9455	76	48	&	&	CCONJ
ajfa-9455	76	49	dhaliwal	dhaliwal	PROPN
ajfa-9455	76	50	,	,	PUNCT
ajfa-9455	76	51	1981	1981	NUM
ajfa-9455	76	52	;	;	PUNCT
ajfa-9455	76	53	zmijewski	zmijewski	PROPN
ajfa-9455	76	54	&	&	CCONJ
ajfa-9455	76	55	hagerman	hagerman	PROPN
ajfa-9455	76	56	,	,	PUNCT
ajfa-9455	76	57	1981	1981	NUM
ajfa-9455	76	58	;	;	PUNCT
ajfa-9455	76	59	zimmerman	zimmerman	PROPN
ajfa-9455	76	60	,	,	PUNCT
ajfa-9455	76	61	1983	1983	NUM
ajfa-9455	76	62	;	;	PUNCT
ajfa-9455	76	63	hughes	hughes	PROPN
ajfa-9455	76	64	&	&	CCONJ
ajfa-9455	76	65	ricks	ricks	PROPN
ajfa-9455	76	66	,	,	PUNCT
ajfa-9455	76	67	1984	1984	NUM
ajfa-9455	76	68	;	;	PUNCT
ajfa-9455	76	69	and	and	CCONJ
ajfa-9455	76	70	shehata	shehata	NOUN
ajfa-9455	76	71	,	,	PUNCT
ajfa-9455	76	72	1991	1991	NUM
ajfa-9455	76	73	)	)	PUNCT
ajfa-9455	76	74	.	.	PUNCT
ajfa-9455	77	1	for	for	ADP
ajfa-9455	77	2	example	example	NOUN
ajfa-9455	77	3	,	,	PUNCT
ajfa-9455	77	4	shehata	shehata	NOUN
ajfa-9455	77	5	(	(	PUNCT
ajfa-9455	77	6	1991	1991	NUM
ajfa-9455	77	7	)	)	PUNCT
ajfa-9455	77	8	has	have	AUX
ajfa-9455	77	9	used	use	VERB
ajfa-9455	77	10	the	the	DET
ajfa-9455	77	11	total	total	ADJ
ajfa-9455	77	12	sales	sale	NOUN
ajfa-9455	77	13	as	as	ADP
ajfa-9455	77	14	firm	firm	ADJ
ajfa-9455	77	15	size	size	NOUN
ajfa-9455	77	16	.	.	PUNCT
ajfa-9455	78	1	thus	thus	ADV
ajfa-9455	78	2	,	,	PUNCT
ajfa-9455	78	3	it	it	PRON
ajfa-9455	78	4	is	be	AUX
ajfa-9455	78	5	important	important	ADJ
ajfa-9455	78	6	to	to	PART
ajfa-9455	78	7	include	include	VERB
ajfa-9455	78	8	firm	firm	ADJ
ajfa-9455	78	9	size	size	NOUN
ajfa-9455	78	10	as	as	ADP
ajfa-9455	78	11	a	a	DET
ajfa-9455	78	12	control	control	NOUN
ajfa-9455	78	13	variable	variable	NOUN
ajfa-9455	78	14	in	in	ADP
ajfa-9455	78	15	the	the	DET
ajfa-9455	78	16	study	study	NOUN
ajfa-9455	78	17	.	.	PUNCT
ajfa-9455	79	1	the	the	DET
ajfa-9455	79	2	firm	firm	ADJ
ajfa-9455	79	3	size	size	NOUN
ajfa-9455	79	4	is	be	AUX
ajfa-9455	79	5	measured	measure	VERB
ajfa-9455	79	6	as	as	ADP
ajfa-9455	79	7	logarithm	logarithm	NOUN
ajfa-9455	79	8	[	[	X
ajfa-9455	79	9	1	1	NUM
ajfa-9455	79	10	]	]	PUNCT
ajfa-9455	79	11	of	of	ADP
ajfa-9455	79	12	sales	sale	NOUN
ajfa-9455	79	13	.	.	PUNCT
ajfa-9455	80	1	moreover	moreover	ADV
ajfa-9455	80	2	,	,	PUNCT
ajfa-9455	80	3	this	this	DET
ajfa-9455	80	4	study	study	NOUN
ajfa-9455	80	5	also	also	ADV
ajfa-9455	80	6	includes	include	VERB
ajfa-9455	80	7	return	return	NOUN
ajfa-9455	80	8	on	on	ADP
ajfa-9455	80	9	assets	asset	NOUN
ajfa-9455	80	10	(	(	PUNCT
ajfa-9455	80	11	roa	roa	NOUN
ajfa-9455	80	12	,	,	PUNCT
ajfa-9455	80	13	hereafter	hereafter	NOUN
ajfa-9455	80	14	)	)	PUNCT
ajfa-9455	80	15	as	as	ADP
ajfa-9455	80	16	a	a	DET
ajfa-9455	80	17	control	control	NOUN
ajfa-9455	80	18	variable	variable	NOUN
ajfa-9455	80	19	(	(	PUNCT
ajfa-9455	80	20	lee	lee	PROPN
ajfa-9455	80	21	and	and	CCONJ
ajfa-9455	80	22	swenson	swenson	PROPN
ajfa-9455	80	23	,	,	PUNCT
ajfa-9455	80	24	2012	2012	NUM
ajfa-9455	80	25	)	)	PUNCT
ajfa-9455	80	26	which	which	PRON
ajfa-9455	80	27	could	could	AUX
ajfa-9455	80	28	impact	impact	VERB
ajfa-9455	80	29	the	the	DET
ajfa-9455	80	30	firm	firm	ADJ
ajfa-9455	80	31	value	value	NOUN
ajfa-9455	80	32	.	.	PUNCT
ajfa-9455	81	1	roa	roa	PROPN
ajfa-9455	81	2	is	be	AUX
ajfa-9455	81	3	measured	measure	VERB
ajfa-9455	81	4	as	as	ADP
ajfa-9455	81	5	net	net	ADJ
ajfa-9455	81	6	operating	operating	NOUN
ajfa-9455	81	7	profit	profit	NOUN
ajfa-9455	81	8	after	after	ADP
ajfa-9455	81	9	tax	tax	NOUN
ajfa-9455	81	10	divided	divide	VERB
ajfa-9455	81	11	by	by	ADP
ajfa-9455	81	12	total	total	ADJ
ajfa-9455	81	13	assets	asset	NOUN
ajfa-9455	81	14	.	.	PUNCT
ajfa-9455	82	1	the	the	DET
ajfa-9455	82	2	study	study	NOUN
ajfa-9455	82	3	of	of	ADP
ajfa-9455	82	4	beaver	beaver	PROPN
ajfa-9455	82	5	et	et	PROPN
ajfa-9455	82	6	al	al	PROPN
ajfa-9455	82	7	.	.	PROPN
ajfa-9455	82	8	(	(	PUNCT
ajfa-9455	82	9	1970	1970	NUM
ajfa-9455	82	10	)	)	PUNCT
ajfa-9455	82	11	reports	report	VERB
ajfa-9455	82	12	a	a	DET
ajfa-9455	82	13	widely	widely	ADV
ajfa-9455	82	14	thought	think	VERB
ajfa-9455	82	15	evident	evident	ADJ
ajfa-9455	82	16	fact	fact	NOUN
ajfa-9455	82	17	that	that	SCONJ
ajfa-9455	82	18	large	large	ADJ
ajfa-9455	82	19	firms	firm	NOUN
ajfa-9455	82	20	have	have	AUX
ajfa-9455	82	21	low	low	ADJ
ajfa-9455	82	22	variability	variability	NOUN
ajfa-9455	82	23	of	of	ADP
ajfa-9455	82	24	risk	risk	NOUN
ajfa-9455	82	25	and	and	CCONJ
ajfa-9455	82	26	asset	asset	NOUN
ajfa-9455	82	27	returns	return	NOUN
ajfa-9455	82	28	than	than	ADP
ajfa-9455	82	29	smaller	small	ADJ
ajfa-9455	82	30	firms	firm	NOUN
ajfa-9455	82	31	in	in	ADP
ajfa-9455	82	32	the	the	DET
ajfa-9455	82	33	literature	literature	NOUN
ajfa-9455	82	34	.	.	PUNCT
ajfa-9455	83	1	this	this	PRON
ajfa-9455	83	2	means	mean	VERB
ajfa-9455	83	3	firm	firm	ADJ
ajfa-9455	83	4	size	size	NOUN
ajfa-9455	83	5	and	and	CCONJ
ajfa-9455	83	6	roa	roa	NOUN
ajfa-9455	83	7	should	should	AUX
ajfa-9455	83	8	be	be	AUX
ajfa-9455	83	9	included	include	VERB
ajfa-9455	83	10	in	in	ADP
ajfa-9455	83	11	the	the	DET
ajfa-9455	83	12	study	study	NOUN
ajfa-9455	83	13	for	for	ADP
ajfa-9455	83	14	improving	improve	VERB
ajfa-9455	83	15	the	the	DET
ajfa-9455	83	16	explanatory	explanatory	ADJ
ajfa-9455	83	17	power	power	NOUN
ajfa-9455	83	18	of	of	ADP
ajfa-9455	83	19	dol	dol	NOUN
ajfa-9455	83	20	and	and	CCONJ
ajfa-9455	83	21	dfl	dfl	PROPN
ajfa-9455	83	22	.	.	PUNCT
ajfa-9455	84	1	thus	thus	ADV
ajfa-9455	84	2	,	,	PUNCT
ajfa-9455	84	3	the	the	DET
ajfa-9455	84	4	hypothesis	hypothesis	NOUN
ajfa-9455	84	5	proposed	propose	VERB
ajfa-9455	84	6	above	above	ADV
ajfa-9455	84	7	is	be	AUX
ajfa-9455	84	8	also	also	ADV
ajfa-9455	84	9	examined	examine	VERB
ajfa-9455	84	10	the	the	DET
ajfa-9455	84	11	impact	impact	NOUN
ajfa-9455	84	12	of	of	ADP
ajfa-9455	84	13	dol	dol	NOUN
ajfa-9455	84	14	and	and	CCONJ
ajfa-9455	84	15	dfl	dfl	PROPN
ajfa-9455	84	16	after	after	ADP
ajfa-9455	84	17	controlling	control	VERB
ajfa-9455	84	18	for	for	ADP
ajfa-9455	84	19	firm	firm	ADJ
ajfa-9455	84	20	size	size	NOUN
ajfa-9455	84	21	and	and	CCONJ
ajfa-9455	84	22	roa	roa	PROPN
ajfa-9455	84	23	.	.	PUNCT
ajfa-9455	85	1	mandelkar	mandelkar	PROPN
ajfa-9455	85	2	and	and	CCONJ
ajfa-9455	85	3	rhee	rhee	PROPN
ajfa-9455	85	4	(	(	PUNCT
ajfa-9455	85	5	1984	1984	NUM
ajfa-9455	85	6	)	)	PUNCT
ajfa-9455	85	7	found	find	VERB
ajfa-9455	85	8	measurement	measurement	NOUN
ajfa-9455	85	9	errors	error	NOUN
ajfa-9455	85	10	of	of	ADP
ajfa-9455	85	11	variables	variable	NOUN
ajfa-9455	85	12	at	at	ADP
ajfa-9455	85	13	the	the	DET
ajfa-9455	85	14	level	level	NOUN
ajfa-9455	85	15	of	of	ADP
ajfa-9455	85	16	individual	individual	ADJ
ajfa-9455	85	17	firm	firm	NOUN
ajfa-9455	85	18	.	.	PUNCT
ajfa-9455	86	1	therefore	therefore	ADV
ajfa-9455	86	2	,	,	PUNCT
ajfa-9455	86	3	the	the	DET
ajfa-9455	86	4	portfolio	portfolio	NOUN
ajfa-9455	86	5	-	-	PUNCT
ajfa-9455	86	6	grouping	group	VERB
ajfa-9455	86	7	procedures	procedure	NOUN
ajfa-9455	86	8	(	(	PUNCT
ajfa-9455	86	9	beaver	beaver	NOUN
ajfa-9455	86	10	et	et	PROPN
ajfa-9455	86	11	al	al	PROPN
ajfa-9455	86	12	.	.	PROPN
ajfa-9455	86	13	1970	1970	NUM
ajfa-9455	86	14	;	;	PUNCT
ajfa-9455	86	15	black	black	PROPN
ajfa-9455	86	16	et	et	PROPN
ajfa-9455	86	17	al	al	PROPN
ajfa-9455	86	18	.	.	PROPN
ajfa-9455	86	19	1972	1972	NUM
ajfa-9455	86	20	;	;	PUNCT
ajfa-9455	86	21	fama	fama	PROPN
ajfa-9455	86	22	&	&	CCONJ
ajfa-9455	86	23	macbeth	macbeth	PROPN
ajfa-9455	86	24	,	,	PUNCT
ajfa-9455	86	25	1973	1973	NUM
ajfa-9455	86	26	)	)	PUNCT
ajfa-9455	86	27	employed	employ	VERB
ajfa-9455	86	28	by	by	ADP
ajfa-9455	86	29	mandelkar	mandelkar	NOUN
ajfa-9455	86	30	and	and	CCONJ
ajfa-9455	86	31	rhee	rhee	PROPN
ajfa-9455	86	32	(	(	PUNCT
ajfa-9455	86	33	1984	1984	NUM
ajfa-9455	86	34	)	)	PUNCT
ajfa-9455	86	35	are	be	AUX
ajfa-9455	86	36	used	use	VERB
ajfa-9455	86	37	to	to	PART
ajfa-9455	86	38	reduce	reduce	VERB
ajfa-9455	86	39	these	these	DET
ajfa-9455	86	40	measurement	measurement	NOUN
ajfa-9455	86	41	errors	error	NOUN
ajfa-9455	86	42	of	of	ADP
ajfa-9455	86	43	variables	variable	NOUN
ajfa-9455	86	44	.	.	PUNCT
ajfa-9455	87	1	under	under	ADP
ajfa-9455	87	2	this	this	DET
ajfa-9455	87	3	approach	approach	NOUN
ajfa-9455	87	4	,	,	PUNCT
ajfa-9455	87	5	the	the	DET
ajfa-9455	87	6	average	average	ADJ
ajfa-9455	87	7	values	value	NOUN
ajfa-9455	87	8	of	of	ADP
ajfa-9455	87	9	interest	interest	NOUN
ajfa-9455	87	10	variables	variable	NOUN
ajfa-9455	87	11	(	(	PUNCT
ajfa-9455	87	12	pe	pe	INTJ
ajfa-9455	87	13	,	,	PUNCT
ajfa-9455	87	14	dol	dol	NOUN
ajfa-9455	87	15	and	and	CCONJ
ajfa-9455	87	16	dfl	dfl	PROPN
ajfa-9455	87	17	)	)	PUNCT
ajfa-9455	87	18	of	of	ADP
ajfa-9455	87	19	total	total	ADJ
ajfa-9455	87	20	231	231	NUM
ajfa-9455	87	21	sample	sample	NOUN
ajfa-9455	87	22	firms	firm	NOUN
ajfa-9455	87	23	are	be	AUX
ajfa-9455	87	24	ranked	rank	VERB
ajfa-9455	87	25	in	in	ADP
ajfa-9455	87	26	ascending	ascend	VERB
ajfa-9455	87	27	order	order	NOUN
ajfa-9455	87	28	on	on	ADP
ajfa-9455	87	29	the	the	DET
ajfa-9455	87	30	basis	basis	NOUN
ajfa-9455	87	31	of	of	ADP
ajfa-9455	87	32	beta	beta	ADJ
ajfa-9455	87	33	values	value	NOUN
ajfa-9455	87	34	[	[	X
ajfa-9455	87	35	2	2	NUM
ajfa-9455	87	36	]	]	PUNCT
ajfa-9455	87	37	of	of	ADP
ajfa-9455	87	38	each	each	DET
ajfa-9455	87	39	firm	firm	NOUN
ajfa-9455	87	40	's	's	PART
ajfa-9455	87	41	common	common	ADJ
ajfa-9455	87	42	stock	stock	NOUN
ajfa-9455	87	43	and	and	CCONJ
ajfa-9455	87	44	every	every	DET
ajfa-9455	87	45	three	three	NUM
ajfa-9455	87	46	firms	firm	NOUN
ajfa-9455	87	47	from	from	ADP
ajfa-9455	87	48	above	above	ADP
ajfa-9455	87	49	rank	rank	NOUN
ajfa-9455	87	50	order	order	NOUN
ajfa-9455	87	51	are	be	AUX
ajfa-9455	87	52	grouped	group	VERB
ajfa-9455	87	53	together	together	ADV
ajfa-9455	87	54	to	to	PART
ajfa-9455	87	55	form	form	VERB
ajfa-9455	87	56	a	a	DET
ajfa-9455	87	57	portfolio	portfolio	NOUN
ajfa-9455	87	58	.	.	PUNCT
ajfa-9455	88	1	since	since	SCONJ
ajfa-9455	88	2	the	the	DET
ajfa-9455	88	3	same	same	ADJ
ajfa-9455	88	4	study	study	NOUN
ajfa-9455	88	5	period	period	NOUN
ajfa-9455	88	6	is	be	AUX
ajfa-9455	88	7	used	use	VERB
ajfa-9455	88	8	to	to	PART
ajfa-9455	88	9	perform	perform	VERB
ajfa-9455	88	10	the	the	DET
ajfa-9455	88	11	grouping	grouping	NOUN
ajfa-9455	88	12	and	and	CCONJ
ajfa-9455	88	13	cross	cross	ADJ
ajfa-9455	88	14	-	-	ADJ
ajfa-9455	88	15	sectional	sectional	ADJ
ajfa-9455	88	16	regressions	regression	NOUN
ajfa-9455	88	17	,	,	PUNCT
ajfa-9455	88	18	there	there	PRON
ajfa-9455	88	19	is	be	VERB
ajfa-9455	88	20	a	a	DET
ajfa-9455	88	21	possibility	possibility	NOUN
ajfa-9455	88	22	of	of	ADP
ajfa-9455	88	23	potential	potential	ADJ
ajfa-9455	88	24	selection	selection	NOUN
ajfa-9455	88	25	bias	bias	NOUN
ajfa-9455	88	26	(	(	PUNCT
ajfa-9455	88	27	mandelkar	mandelkar	NOUN
ajfa-9455	88	28	and	and	CCONJ
ajfa-9455	88	29	rhee	rhee	PROPN
ajfa-9455	88	30	,	,	PUNCT
ajfa-9455	88	31	1984	1984	NUM
ajfa-9455	88	32	)	)	PUNCT
ajfa-9455	88	33	.	.	PUNCT
ajfa-9455	89	1	to	to	PART
ajfa-9455	89	2	correct	correct	VERB
ajfa-9455	89	3	potential	potential	ADJ
ajfa-9455	89	4	selection	selection	NOUN
ajfa-9455	89	5	bias	bias	NOUN
ajfa-9455	89	6	,	,	PUNCT
ajfa-9455	89	7	the	the	DET
ajfa-9455	89	8	beta	beta	ADJ
ajfa-9455	89	9	values	value	NOUN
ajfa-9455	89	10	which	which	PRON
ajfa-9455	89	11	are	be	AUX
ajfa-9455	89	12	significantly	significantly	ADV
ajfa-9455	89	13	correlated	correlate	VERB
ajfa-9455	89	14	(	(	PUNCT
ajfa-9455	89	15	see	see	VERB
ajfa-9455	89	16	table	table	NOUN
ajfa-9455	89	17	2	2	NUM
ajfa-9455	89	18	)	)	PUNCT
ajfa-9455	89	19	with	with	ADP
ajfa-9455	89	20	the	the	DET
ajfa-9455	89	21	two	two	NUM
ajfa-9455	89	22	independent	independent	ADJ
ajfa-9455	89	23	variables	variable	NOUN
ajfa-9455	89	24	(	(	PUNCT
ajfa-9455	89	25	dol	dol	NOUN
ajfa-9455	89	26	and	and	CCONJ
ajfa-9455	89	27	dfl	dfl	PROPN
ajfa-9455	89	28	)	)	PUNCT
ajfa-9455	89	29	are	be	AUX
ajfa-9455	89	30	used	use	VERB
ajfa-9455	89	31	as	as	ADP
ajfa-9455	89	32	the	the	DET
ajfa-9455	89	33	basis	basis	NOUN
ajfa-9455	89	34	of	of	ADP
ajfa-9455	89	35	ranking	rank	VERB
ajfa-9455	89	36	to	to	PART
ajfa-9455	89	37	form	form	VERB
ajfa-9455	89	38	portfolios	portfolio	NOUN
ajfa-9455	89	39	.	.	PUNCT
ajfa-9455	90	1	in	in	ADP
ajfa-9455	90	2	the	the	DET
ajfa-9455	90	3	study	study	NOUN
ajfa-9455	90	4	of	of	ADP
ajfa-9455	90	5	mandelkar	mandelkar	NOUN
ajfa-9455	90	6	and	and	CCONJ
ajfa-9455	90	7	rhee	rhee	PROPN
ajfa-9455	90	8	(	(	PUNCT
ajfa-9455	90	9	1984	1984	NUM
ajfa-9455	90	10	)	)	PUNCT
ajfa-9455	90	11	the	the	DET
ajfa-9455	90	12	explanatory	explanatory	ADJ
ajfa-9455	90	13	power	power	NOUN
ajfa-9455	90	14	(	(	PUNCT
ajfa-9455	90	15	r2	r2	PROPN
ajfa-9455	90	16	)	)	PUNCT
ajfa-9455	90	17	of	of	ADP
ajfa-9455	90	18	the	the	DET
ajfa-9455	90	19	regression	regression	NOUN
ajfa-9455	90	20	model	model	NOUN
ajfa-9455	90	21	increases	increase	NOUN
ajfa-9455	90	22	at	at	ADP
ajfa-9455	90	23	the	the	DET
ajfa-9455	90	24	portfolio	portfolio	NOUN
ajfa-9455	90	25	level	level	NOUN
ajfa-9455	90	26	of	of	ADP
ajfa-9455	90	27	the	the	DET
ajfa-9455	90	28	firms	firm	NOUN
ajfa-9455	90	29	.	.	PUNCT
ajfa-9455	91	1	therefore	therefore	ADV
ajfa-9455	91	2	,	,	PUNCT
ajfa-9455	91	3	the	the	DET
ajfa-9455	91	4	stated	state	VERB
ajfa-9455	91	5	hypothesis	hypothesis	NOUN
ajfa-9455	91	6	is	be	AUX
ajfa-9455	91	7	to	to	PART
ajfa-9455	91	8	be	be	AUX
ajfa-9455	91	9	investigated	investigate	VERB
ajfa-9455	91	10	further	far	ADV
ajfa-9455	91	11	at	at	ADP
ajfa-9455	91	12	the	the	DET
ajfa-9455	91	13	portfolio	portfolio	NOUN
ajfa-9455	91	14	level	level	NOUN
ajfa-9455	91	15	of	of	ADP
ajfa-9455	91	16	the	the	DET
ajfa-9455	91	17	firms	firm	NOUN
ajfa-9455	91	18	in	in	ADP
ajfa-9455	91	19	anticipation	anticipation	NOUN
ajfa-9455	91	20	of	of	ADP
ajfa-9455	91	21	increased	increase	VERB
ajfa-9455	91	22	explanatory	explanatory	ADJ
ajfa-9455	91	23	power	power	NOUN
ajfa-9455	91	24	(	(	PUNCT
ajfa-9455	91	25	r2	r2	PROPN
ajfa-9455	91	26	)	)	PUNCT
ajfa-9455	91	27	of	of	ADP
ajfa-9455	91	28	the	the	DET
ajfa-9455	91	29	regression	regression	NOUN
ajfa-9455	91	30	model	model	NOUN
ajfa-9455	91	31	.	.	PUNCT
ajfa-9455	92	1	the	the	DET
ajfa-9455	92	2	next	next	ADJ
ajfa-9455	92	3	section	section	NOUN
ajfa-9455	92	4	will	will	AUX
ajfa-9455	92	5	describe	describe	VERB
ajfa-9455	92	6	about	about	ADP
ajfa-9455	92	7	the	the	DET
ajfa-9455	92	8	collection	collection	NOUN
ajfa-9455	92	9	of	of	ADP
ajfa-9455	92	10	data	datum	NOUN
ajfa-9455	92	11	and	and	CCONJ
ajfa-9455	92	12	estimation	estimation	NOUN
ajfa-9455	92	13	of	of	ADP
ajfa-9455	92	14	dependent	dependent	ADJ
ajfa-9455	92	15	and	and	CCONJ
ajfa-9455	92	16	independent	independent	ADJ
ajfa-9455	92	17	variables	variable	NOUN
ajfa-9455	92	18	and	and	CCONJ
ajfa-9455	92	19	the	the	DET
ajfa-9455	92	20	regression	regression	NOUN
ajfa-9455	92	21	models	model	NOUN
ajfa-9455	92	22	to	to	PART
ajfa-9455	92	23	find	find	VERB
ajfa-9455	92	24	empirical	empirical	ADJ
ajfa-9455	92	25	results	result	NOUN
ajfa-9455	92	26	of	of	ADP
ajfa-9455	92	27	this	this	DET
ajfa-9455	92	28	study	study	NOUN
ajfa-9455	92	29	.	.	PUNCT
ajfa-9455	93	1	3	3	X
ajfa-9455	93	2	.	.	X
ajfa-9455	93	3	empirical	empirical	ADJ
ajfa-9455	93	4	test	test	NOUN
ajfa-9455	93	5	design	design	VERB
ajfa-9455	93	6	the	the	DET
ajfa-9455	93	7	prowess	prowess	NOUN
ajfa-9455	93	8	database	database	NOUN
ajfa-9455	93	9	created	create	VERB
ajfa-9455	93	10	by	by	ADP
ajfa-9455	93	11	the	the	DET
ajfa-9455	93	12	center	center	NOUN
ajfa-9455	93	13	for	for	ADP
ajfa-9455	93	14	monitoring	monitor	VERB
ajfa-9455	93	15	indian	indian	ADJ
ajfa-9455	93	16	economy	economy	NOUN
ajfa-9455	93	17	(	(	PUNCT
ajfa-9455	93	18	cmie	cmie	PROPN
ajfa-9455	93	19	)	)	PUNCT
ajfa-9455	93	20	is	be	AUX
ajfa-9455	93	21	used	use	VERB
ajfa-9455	93	22	to	to	PART
ajfa-9455	93	23	collect	collect	VERB
ajfa-9455	93	24	the	the	DET
ajfa-9455	93	25	data	datum	NOUN
ajfa-9455	93	26	of	of	ADP
ajfa-9455	93	27	required	require	VERB
ajfa-9455	93	28	variables	variable	NOUN
ajfa-9455	93	29	of	of	ADP
ajfa-9455	93	30	the	the	DET
ajfa-9455	93	31	10	10	NUM
ajfa-9455	93	32	financial	financial	ADJ
ajfa-9455	93	33	years	year	NOUN
ajfa-9455	93	34	from	from	ADP
ajfa-9455	93	35	2002	2002	NUM
ajfa-9455	93	36	-	-	SYM
ajfa-9455	93	37	2011	2011	NUM
ajfa-9455	93	38	of	of	ADP
ajfa-9455	93	39	231	231	NUM
ajfa-9455	93	40	nse	nse	NOUN
ajfa-9455	93	41	listed	list	VERB
ajfa-9455	93	42	manufacturing	manufacturing	NOUN
ajfa-9455	93	43	firms	firm	NOUN
ajfa-9455	93	44	.	.	PUNCT
ajfa-9455	94	1	the	the	DET
ajfa-9455	94	2	study	study	NOUN
ajfa-9455	94	3	of	of	ADP
ajfa-9455	94	4	sarkar	sarkar	PROPN
ajfa-9455	94	5	,	,	PUNCT
ajfa-9455	94	6	sarkar	sarkar	PROPN
ajfa-9455	94	7	and	and	CCONJ
ajfa-9455	94	8	sen	sen	PROPN
ajfa-9455	94	9	,	,	PUNCT
ajfa-9455	94	10	(	(	PUNCT
ajfa-9455	94	11	2008	2008	NUM
ajfa-9455	94	12	)	)	PUNCT
ajfa-9455	94	13	reports	report	NOUN
ajfa-9455	94	14	that	that	PRON
ajfa-9455	94	15	cmie	cmie	VERB
ajfa-9455	94	16	prowess	prowess	NOUN
ajfa-9455	94	17	database	database	NOUN
ajfa-9455	94	18	has	have	AUX
ajfa-9455	94	19	become	become	VERB
ajfa-9455	94	20	the	the	DET
ajfa-9455	94	21	basis	basis	NOUN
ajfa-9455	94	22	of	of	ADP
ajfa-9455	94	23	several	several	ADJ
ajfa-9455	94	24	published	publish	VERB
ajfa-9455	94	25	empirical	empirical	ADJ
ajfa-9455	94	26	studies	study	NOUN
ajfa-9455	94	27	on	on	ADP
ajfa-9455	94	28	the	the	DET
ajfa-9455	94	29	indian	indian	ADJ
ajfa-9455	94	30	corporate	corporate	ADJ
ajfa-9455	94	31	sector	sector	NOUN
ajfa-9455	94	32	(	(	PUNCT
ajfa-9455	94	33	e.g.	e.g.	ADV
ajfa-9455	94	34	,	,	PUNCT
ajfa-9455	94	35	khanna	khanna	PROPN
ajfa-9455	94	36	&	&	CCONJ
ajfa-9455	94	37	palepu	palepu	PROPN
ajfa-9455	94	38	,	,	PUNCT
ajfa-9455	94	39	1999	1999	NUM
ajfa-9455	94	40	;	;	PUNCT
ajfa-9455	94	41	sarkar	sarkar	PROPN
ajfa-9455	94	42	&	&	CCONJ
ajfa-9455	94	43	sarkar	sarkar	PROPN
ajfa-9455	94	44	,	,	PUNCT
ajfa-9455	94	45	2000	2000	NUM
ajfa-9455	94	46	;	;	PUNCT
ajfa-9455	94	47	bertrand	bertrand	PROPN
ajfa-9455	94	48	,	,	PUNCT
ajfa-9455	94	49	mehta	mehta	PROPN
ajfa-9455	94	50	&	&	CCONJ
ajfa-9455	94	51	mullainathan	mullainathan	PROPN
ajfa-9455	94	52	,	,	PUNCT
ajfa-9455	94	53	2002	2002	NUM
ajfa-9455	94	54	)	)	PUNCT
ajfa-9455	94	55	.	.	PUNCT
ajfa-9455	95	1	the	the	DET
ajfa-9455	95	2	financial	financial	ADJ
ajfa-9455	95	3	year	year	NOUN
ajfa-9455	95	4	from	from	ADP
ajfa-9455	95	5	april	april	PROPN
ajfa-9455	95	6	1	1	NUM
ajfa-9455	95	7	to	to	ADP
ajfa-9455	95	8	march	march	PROPN
ajfa-9455	95	9	31	31	NUM
ajfa-9455	95	10	of	of	ADP
ajfa-9455	95	11	the	the	DET
ajfa-9455	95	12	following	follow	VERB
ajfa-9455	95	13	asian	asian	ADJ
ajfa-9455	95	14	journal	journal	NOUN
ajfa-9455	95	15	of	of	ADP
ajfa-9455	95	16	finance	finance	PROPN
ajfa-9455	95	17	&	&	CCONJ
ajfa-9455	95	18	accounting	accounting	PROPN
ajfa-9455	95	19	issn	issn	PROPN
ajfa-9455	95	20	1946	1946	NUM
ajfa-9455	95	21	-	-	PUNCT
ajfa-9455	95	22	052x	052x	PROPN
ajfa-9455	95	23	2016	2016	NUM
ajfa-9455	95	24	,	,	PUNCT
ajfa-9455	95	25	vol	vol	NOUN
ajfa-9455	95	26	.	.	PROPN
ajfa-9455	95	27	8	8	NUM
ajfa-9455	95	28	,	,	PUNCT
ajfa-9455	95	29	no	no	INTJ
ajfa-9455	95	30	.	.	NOUN
ajfa-9455	95	31	1	1	NUM
ajfa-9455	95	32	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-9455	95	33	218	218	NUM
ajfa-9455	95	34	year	year	NOUN
ajfa-9455	95	35	is	be	AUX
ajfa-9455	95	36	considered	consider	VERB
ajfa-9455	95	37	in	in	ADP
ajfa-9455	95	38	india	india	PROPN
ajfa-9455	95	39	(	(	PUNCT
ajfa-9455	95	40	sarkar	sarkar	PROPN
ajfa-9455	95	41	,	,	PUNCT
ajfa-9455	95	42	sarkar	sarkar	PROPN
ajfa-9455	95	43	&	&	CCONJ
ajfa-9455	95	44	sen	sen	PROPN
ajfa-9455	95	45	,	,	PUNCT
ajfa-9455	95	46	2008	2008	NUM
ajfa-9455	95	47	)	)	PUNCT
ajfa-9455	95	48	.	.	PUNCT
ajfa-9455	96	1	total	total	ADJ
ajfa-9455	96	2	sample	sample	NOUN
ajfa-9455	96	3	of	of	ADP
ajfa-9455	96	4	231	231	NUM
ajfa-9455	96	5	firms	firm	NOUN
ajfa-9455	96	6	for	for	ADP
ajfa-9455	96	7	this	this	DET
ajfa-9455	96	8	study	study	NOUN
ajfa-9455	96	9	is	be	AUX
ajfa-9455	96	10	distributed	distribute	VERB
ajfa-9455	96	11	across	across	ADP
ajfa-9455	96	12	nine	nine	NUM
ajfa-9455	96	13	industries	industry	NOUN
ajfa-9455	96	14	(	(	PUNCT
ajfa-9455	96	15	chemical	chemical	NOUN
ajfa-9455	96	16	,	,	PUNCT
ajfa-9455	96	17	diversified	diversified	ADJ
ajfa-9455	96	18	,	,	PUNCT
ajfa-9455	96	19	machinery	machinery	NOUN
ajfa-9455	96	20	,	,	PUNCT
ajfa-9455	96	21	food	food	NOUN
ajfa-9455	96	22	&	&	CCONJ
ajfa-9455	96	23	beverage	beverage	NOUN
ajfa-9455	96	24	,	,	PUNCT
ajfa-9455	96	25	textiles	textile	NOUN
ajfa-9455	96	26	,	,	PUNCT
ajfa-9455	96	27	transport	transport	NOUN
ajfa-9455	96	28	equipments	equipment	NOUN
ajfa-9455	96	29	,	,	PUNCT
ajfa-9455	96	30	non	non	ADJ
ajfa-9455	96	31	-	-	ADJ
ajfa-9455	96	32	metallic	metallic	ADJ
ajfa-9455	96	33	mineral	mineral	NOUN
ajfa-9455	96	34	products	product	NOUN
ajfa-9455	96	35	,	,	PUNCT
ajfa-9455	96	36	metal	metal	NOUN
ajfa-9455	96	37	&	&	CCONJ
ajfa-9455	96	38	metal	metal	NOUN
ajfa-9455	96	39	products	product	NOUN
ajfa-9455	96	40	and	and	CCONJ
ajfa-9455	96	41	miscellaneous	miscellaneous	NOUN
ajfa-9455	96	42	)	)	PUNCT
ajfa-9455	96	43	by	by	ADP
ajfa-9455	96	44	the	the	DET
ajfa-9455	96	45	cmie	cmie	PROPN
ajfa-9455	96	46	prowess	prowess	NOUN
ajfa-9455	96	47	database	database	NOUN
ajfa-9455	96	48	.	.	PUNCT
ajfa-9455	97	1	the	the	DET
ajfa-9455	97	2	nse	nse	NOUN
ajfa-9455	97	3	listed	list	VERB
ajfa-9455	97	4	manufacturing	manufacturing	NOUN
ajfa-9455	97	5	firms	firm	NOUN
ajfa-9455	97	6	with	with	ADP
ajfa-9455	97	7	the	the	DET
ajfa-9455	97	8	values	value	NOUN
ajfa-9455	97	9	of	of	ADP
ajfa-9455	97	10	required	require	VERB
ajfa-9455	97	11	accounting	accounting	NOUN
ajfa-9455	97	12	variables	variable	NOUN
ajfa-9455	97	13	(	(	PUNCT
ajfa-9455	97	14	annual	annual	ADJ
ajfa-9455	97	15	sales	sale	NOUN
ajfa-9455	97	16	,	,	PUNCT
ajfa-9455	97	17	net	net	ADJ
ajfa-9455	97	18	operating	operating	NOUN
ajfa-9455	97	19	profit	profit	NOUN
ajfa-9455	97	20	after	after	ADP
ajfa-9455	97	21	tax	tax	NOUN
ajfa-9455	97	22	,	,	PUNCT
ajfa-9455	97	23	pe	pe	NOUN
ajfa-9455	97	24	ratio	ratio	NOUN
ajfa-9455	97	25	,	,	PUNCT
ajfa-9455	97	26	fixed	fix	VERB
ajfa-9455	97	27	assets	asset	NOUN
ajfa-9455	97	28	,	,	PUNCT
ajfa-9455	97	29	total	total	ADJ
ajfa-9455	97	30	debt	debt	NOUN
ajfa-9455	97	31	,	,	PUNCT
ajfa-9455	97	32	total	total	ADJ
ajfa-9455	97	33	assets	asset	NOUN
ajfa-9455	97	34	,	,	PUNCT
ajfa-9455	97	35	stock	stock	NOUN
ajfa-9455	97	36	prices	price	NOUN
ajfa-9455	97	37	and	and	CCONJ
ajfa-9455	97	38	earnings	earning	NOUN
ajfa-9455	97	39	per	per	ADP
ajfa-9455	97	40	share	share	NOUN
ajfa-9455	97	41	)	)	PUNCT
ajfa-9455	97	42	as	as	ADP
ajfa-9455	97	43	on	on	ADP
ajfa-9455	97	44	march	march	PROPN
ajfa-9455	97	45	31	31	NUM
ajfa-9455	97	46	every	every	DET
ajfa-9455	97	47	year	year	NOUN
ajfa-9455	97	48	from	from	ADP
ajfa-9455	97	49	2002	2002	NUM
ajfa-9455	97	50	to	to	ADP
ajfa-9455	97	51	2011	2011	NUM
ajfa-9455	97	52	have	have	AUX
ajfa-9455	97	53	been	be	AUX
ajfa-9455	97	54	extracted	extract	VERB
ajfa-9455	97	55	from	from	ADP
ajfa-9455	97	56	cmie	cmie	NOUN
ajfa-9455	97	57	prowess	prowess	NOUN
ajfa-9455	97	58	database	database	NOUN
ajfa-9455	97	59	for	for	ADP
ajfa-9455	97	60	estimating	estimate	VERB
ajfa-9455	97	61	the	the	DET
ajfa-9455	97	62	dependent	dependent	ADJ
ajfa-9455	97	63	variable	variable	NOUN
ajfa-9455	97	64	(	(	PUNCT
ajfa-9455	97	65	pe	pe	NOUN
ajfa-9455	97	66	ratio	ratio	NOUN
ajfa-9455	97	67	)	)	PUNCT
ajfa-9455	97	68	,	,	PUNCT
ajfa-9455	97	69	the	the	DET
ajfa-9455	97	70	independent	independent	ADJ
ajfa-9455	97	71	variables	variable	NOUN
ajfa-9455	97	72	(	(	PUNCT
ajfa-9455	97	73	dol	dol	NOUN
ajfa-9455	97	74	and	and	CCONJ
ajfa-9455	97	75	dfl	dfl	PROPN
ajfa-9455	97	76	)	)	PUNCT
ajfa-9455	97	77	and	and	CCONJ
ajfa-9455	97	78	the	the	DET
ajfa-9455	97	79	control	control	NOUN
ajfa-9455	97	80	variables	variable	NOUN
ajfa-9455	97	81	(	(	PUNCT
ajfa-9455	97	82	roa	roa	NOUN
ajfa-9455	97	83	and	and	CCONJ
ajfa-9455	97	84	firm	firm	ADJ
ajfa-9455	97	85	size	size	NOUN
ajfa-9455	97	86	)	)	PUNCT
ajfa-9455	97	87	.	.	PUNCT
ajfa-9455	98	1	finally	finally	ADV
ajfa-9455	98	2	,	,	PUNCT
ajfa-9455	98	3	the	the	DET
ajfa-9455	98	4	complete	complete	ADJ
ajfa-9455	98	5	set	set	NOUN
ajfa-9455	98	6	of	of	ADP
ajfa-9455	98	7	data	datum	NOUN
ajfa-9455	98	8	of	of	ADP
ajfa-9455	98	9	231	231	NUM
ajfa-9455	98	10	manufacturing	manufacturing	NOUN
ajfa-9455	98	11	firms	firm	NOUN
ajfa-9455	98	12	distributed	distribute	VERB
ajfa-9455	98	13	over	over	ADP
ajfa-9455	98	14	nine	nine	NUM
ajfa-9455	98	15	industries	industry	NOUN
ajfa-9455	98	16	has	have	AUX
ajfa-9455	98	17	been	be	AUX
ajfa-9455	98	18	taken	take	VERB
ajfa-9455	98	19	to	to	PART
ajfa-9455	98	20	find	find	VERB
ajfa-9455	98	21	the	the	DET
ajfa-9455	98	22	results	result	NOUN
ajfa-9455	98	23	.	.	PUNCT
ajfa-9455	99	1	to	to	PART
ajfa-9455	99	2	test	test	VERB
ajfa-9455	99	3	the	the	DET
ajfa-9455	99	4	proposed	propose	VERB
ajfa-9455	99	5	hypothesis	hypothesis	NOUN
ajfa-9455	99	6	,	,	PUNCT
ajfa-9455	99	7	a	a	DET
ajfa-9455	99	8	model	model	NOUN
ajfa-9455	99	9	1	1	NUM
ajfa-9455	99	10	is	be	AUX
ajfa-9455	99	11	formulated	formulate	VERB
ajfa-9455	99	12	to	to	PART
ajfa-9455	99	13	empirically	empirically	ADV
ajfa-9455	99	14	examine	examine	VERB
ajfa-9455	99	15	the	the	DET
ajfa-9455	99	16	joint	joint	ADJ
ajfa-9455	99	17	impact	impact	NOUN
ajfa-9455	99	18	of	of	ADP
ajfa-9455	99	19	dol	dol	NOUN
ajfa-9455	99	20	and	and	CCONJ
ajfa-9455	99	21	dfl	dfl	PROPN
ajfa-9455	99	22	on	on	ADP
ajfa-9455	99	23	the	the	DET
ajfa-9455	99	24	pe	pe	PROPN
ajfa-9455	99	25	ratio	ratio	NOUN
ajfa-9455	99	26	for	for	ADP
ajfa-9455	99	27	the	the	DET
ajfa-9455	99	28	sample	sample	NOUN
ajfa-9455	99	29	of	of	ADP
ajfa-9455	99	30	231	231	NUM
ajfa-9455	99	31	listed	list	VERB
ajfa-9455	99	32	manufacturing	manufacturing	NOUN
ajfa-9455	99	33	firms	firm	NOUN
ajfa-9455	99	34	.	.	PUNCT
ajfa-9455	100	1	the	the	DET
ajfa-9455	100	2	control	control	NOUN
ajfa-9455	100	3	variables	variable	VERB
ajfa-9455	100	4	,	,	PUNCT
ajfa-9455	100	5	return	return	VERB
ajfa-9455	100	6	on	on	ADP
ajfa-9455	100	7	assets	asset	NOUN
ajfa-9455	100	8	(	(	PUNCT
ajfa-9455	100	9	roa	roa	NOUN
ajfa-9455	100	10	)	)	PUNCT
ajfa-9455	100	11	and	and	CCONJ
ajfa-9455	100	12	firm	firm	ADJ
ajfa-9455	100	13	size	size	NOUN
ajfa-9455	100	14	,	,	PUNCT
ajfa-9455	100	15	are	be	AUX
ajfa-9455	100	16	also	also	ADV
ajfa-9455	100	17	taken	take	VERB
ajfa-9455	100	18	to	to	PART
ajfa-9455	100	19	form	form	VERB
ajfa-9455	100	20	model	model	NOUN
ajfa-9455	100	21	2	2	NUM
ajfa-9455	100	22	for	for	ADP
ajfa-9455	100	23	examining	examine	VERB
ajfa-9455	100	24	the	the	DET
ajfa-9455	100	25	association	association	NOUN
ajfa-9455	100	26	of	of	ADP
ajfa-9455	100	27	control	control	NOUN
ajfa-9455	100	28	variables	variable	NOUN
ajfa-9455	100	29	with	with	ADP
ajfa-9455	100	30	firm	firm	ADJ
ajfa-9455	100	31	value	value	NOUN
ajfa-9455	100	32	.	.	PUNCT
ajfa-9455	101	1	we	we	PRON
ajfa-9455	101	2	choose	choose	VERB
ajfa-9455	101	3	the	the	DET
ajfa-9455	101	4	point	point	NOUN
ajfa-9455	101	5	-	-	PUNCT
ajfa-9455	101	6	to	to	ADP
ajfa-9455	101	7	-	-	PUNCT
ajfa-9455	101	8	point	point	NOUN
ajfa-9455	101	9	approach	approach	NOUN
ajfa-9455	101	10	(	(	PUNCT
ajfa-9455	101	11	ferri	ferri	PROPN
ajfa-9455	101	12	&	&	CCONJ
ajfa-9455	101	13	jones	jones	PROPN
ajfa-9455	101	14	,	,	PUNCT
ajfa-9455	101	15	1979	1979	NUM
ajfa-9455	101	16	;	;	PUNCT
ajfa-9455	101	17	mandelker	mandelker	NOUN
ajfa-9455	101	18	&	&	CCONJ
ajfa-9455	101	19	rhee	rhee	PROPN
ajfa-9455	101	20	,	,	PUNCT
ajfa-9455	101	21	1984	1984	NUM
ajfa-9455	101	22	;	;	PUNCT
ajfa-9455	101	23	garcia	garcia	PROPN
ajfa-9455	101	24	&	&	CCONJ
ajfa-9455	101	25	jorgensen	jorgensen	PROPN
ajfa-9455	101	26	,	,	PUNCT
ajfa-9455	101	27	2010	2010	NUM
ajfa-9455	101	28	)	)	PUNCT
ajfa-9455	101	29	to	to	PART
ajfa-9455	101	30	measure	measure	VERB
ajfa-9455	101	31	book	book	NOUN
ajfa-9455	101	32	dol	dol	NOUN
ajfa-9455	101	33	and	and	CCONJ
ajfa-9455	101	34	book	book	NOUN
ajfa-9455	101	35	dfl	dfl	PROPN
ajfa-9455	101	36	.	.	PUNCT
ajfa-9455	102	1	therefore	therefore	ADV
ajfa-9455	102	2	,	,	PUNCT
ajfa-9455	102	3	the	the	DET
ajfa-9455	102	4	ten	ten	NUM
ajfa-9455	102	5	year	year	NOUN
ajfa-9455	102	6	average	average	ADJ
ajfa-9455	102	7	ratio	ratio	NOUN
ajfa-9455	102	8	of	of	ADP
ajfa-9455	102	9	fixed	fix	VERB
ajfa-9455	102	10	assets	asset	NOUN
ajfa-9455	102	11	to	to	PART
ajfa-9455	102	12	total	total	ADJ
ajfa-9455	102	13	assets	asset	NOUN
ajfa-9455	102	14	is	be	AUX
ajfa-9455	102	15	used	use	VERB
ajfa-9455	102	16	to	to	PART
ajfa-9455	102	17	estimate	estimate	VERB
ajfa-9455	102	18	the	the	DET
ajfa-9455	102	19	book	book	NOUN
ajfa-9455	102	20	dol	dol	NOUN
ajfa-9455	102	21	,	,	PUNCT
ajfa-9455	102	22	and	and	CCONJ
ajfa-9455	102	23	the	the	DET
ajfa-9455	102	24	book	book	NOUN
ajfa-9455	102	25	dfl	dfl	PROPN
ajfa-9455	102	26	is	be	AUX
ajfa-9455	102	27	the	the	DET
ajfa-9455	102	28	ten	ten	NUM
ajfa-9455	102	29	year	year	NOUN
ajfa-9455	102	30	average	average	ADJ
ajfa-9455	102	31	ratio	ratio	NOUN
ajfa-9455	102	32	of	of	ADP
ajfa-9455	102	33	total	total	ADJ
ajfa-9455	102	34	debt	debt	NOUN
ajfa-9455	102	35	to	to	ADP
ajfa-9455	102	36	total	total	ADJ
ajfa-9455	102	37	assets	asset	NOUN
ajfa-9455	103	1	[	[	X
ajfa-9455	103	2	3	3	NUM
ajfa-9455	103	3	]	]	PUNCT
ajfa-9455	103	4	.	.	PUNCT
ajfa-9455	104	1	similarly	similarly	ADV
ajfa-9455	104	2	,	,	PUNCT
ajfa-9455	104	3	the	the	DET
ajfa-9455	104	4	ten	ten	NUM
ajfa-9455	104	5	year	year	NOUN
ajfa-9455	104	6	average	average	NOUN
ajfa-9455	104	7	of	of	ADP
ajfa-9455	104	8	annual	annual	ADJ
ajfa-9455	104	9	sales	sale	NOUN
ajfa-9455	104	10	and	and	CCONJ
ajfa-9455	104	11	the	the	DET
ajfa-9455	104	12	ten	ten	NUM
ajfa-9455	104	13	year	year	NOUN
ajfa-9455	104	14	average	average	ADJ
ajfa-9455	104	15	ratio	ratio	NOUN
ajfa-9455	104	16	of	of	ADP
ajfa-9455	104	17	net	net	ADJ
ajfa-9455	104	18	operating	operating	NOUN
ajfa-9455	104	19	profit	profit	NOUN
ajfa-9455	104	20	after	after	ADP
ajfa-9455	104	21	tax	tax	NOUN
ajfa-9455	104	22	(	(	PUNCT
ajfa-9455	104	23	nopat	nopat	PROPN
ajfa-9455	104	24	)	)	PUNCT
ajfa-9455	104	25	to	to	ADP
ajfa-9455	104	26	total	total	ADJ
ajfa-9455	104	27	assets	asset	NOUN
ajfa-9455	104	28	(	(	PUNCT
ajfa-9455	104	29	ta	ta	NOUN
ajfa-9455	104	30	)	)	PUNCT
ajfa-9455	104	31	are	be	AUX
ajfa-9455	104	32	used	use	VERB
ajfa-9455	104	33	to	to	PART
ajfa-9455	104	34	measure	measure	VERB
ajfa-9455	104	35	firm	firm	ADJ
ajfa-9455	104	36	size	size	NOUN
ajfa-9455	104	37	(	(	PUNCT
ajfa-9455	104	38	logarithm	logarithm	NOUN
ajfa-9455	104	39	of	of	ADP
ajfa-9455	104	40	average	average	ADJ
ajfa-9455	104	41	sales	sale	NOUN
ajfa-9455	104	42	)	)	PUNCT
ajfa-9455	104	43	and	and	CCONJ
ajfa-9455	104	44	roa	roa	NOUN
ajfa-9455	104	45	of	of	ADP
ajfa-9455	104	46	each	each	DET
ajfa-9455	104	47	firm	firm	NOUN
ajfa-9455	104	48	,	,	PUNCT
ajfa-9455	104	49	respectively	respectively	ADV
ajfa-9455	104	50	.	.	PUNCT
ajfa-9455	105	1	additionally	additionally	ADV
ajfa-9455	105	2	,	,	PUNCT
ajfa-9455	105	3	the	the	DET
ajfa-9455	105	4	10	10	NUM
ajfa-9455	105	5	-	-	PUNCT
ajfa-9455	105	6	year	year	NOUN
ajfa-9455	105	7	average	average	ADJ
ajfa-9455	105	8	ratio	ratio	NOUN
ajfa-9455	105	9	of	of	ADP
ajfa-9455	105	10	price	price	NOUN
ajfa-9455	105	11	-	-	PUNCT
ajfa-9455	105	12	earnings	earning	NOUN
ajfa-9455	105	13	(	(	PUNCT
ajfa-9455	105	14	pe	pe	NOUN
ajfa-9455	105	15	)	)	PUNCT
ajfa-9455	105	16	of	of	ADP
ajfa-9455	105	17	each	each	DET
ajfa-9455	105	18	firm	firm	NOUN
ajfa-9455	105	19	is	be	AUX
ajfa-9455	105	20	included	include	VERB
ajfa-9455	105	21	in	in	ADP
ajfa-9455	105	22	the	the	DET
ajfa-9455	105	23	study	study	NOUN
ajfa-9455	105	24	to	to	PART
ajfa-9455	105	25	run	run	VERB
ajfa-9455	105	26	these	these	DET
ajfa-9455	105	27	cross	cross	ADJ
ajfa-9455	105	28	-	-	ADJ
ajfa-9455	105	29	sectional	sectional	ADJ
ajfa-9455	105	30	regression	regression	NOUN
ajfa-9455	105	31	models	model	NOUN
ajfa-9455	105	32	.	.	PUNCT
ajfa-9455	106	1	model	model	NOUN
ajfa-9455	106	2	1	1	NUM
ajfa-9455	106	3	:	:	PUNCT
ajfa-9455	106	4	ln(pe)i	ln(pe)i	PROPN
ajfa-9455	107	1	=	=	SYM
ajfa-9455	107	2	ω	ω	PROPN
ajfa-9455	107	3	0	0	PUNCT
ajfa-9455	108	1	+	+	CCONJ
ajfa-9455	108	2	ω	ω	NUM
ajfa-9455	108	3	1	1	NUM
ajfa-9455	108	4	(	(	PUNCT
ajfa-9455	108	5	dol)i	dol)i	PROPN
ajfa-9455	108	6	+	+	PROPN
ajfa-9455	108	7	ω	ω	NUM
ajfa-9455	108	8	2	2	NUM
ajfa-9455	108	9	(	(	PUNCT
ajfa-9455	108	10	dfl)i	dfl)i	PROPN
ajfa-9455	108	11	+	+	NOUN
ajfa-9455	108	12	€	€	NUM
ajfa-9455	108	13	i	i	NOUN
ajfa-9455	108	14	(	(	PUNCT
ajfa-9455	108	15	i=1	i=1	X
ajfa-9455	108	16	-	-	PUNCT
ajfa-9455	108	17	231	231	NUM
ajfa-9455	108	18	)	)	PUNCT
ajfa-9455	108	19	where	where	SCONJ
ajfa-9455	108	20	,	,	PUNCT
ajfa-9455	108	21	pe	pe	INTJ
ajfa-9455	108	22	,	,	PUNCT
ajfa-9455	108	23	dol	dol	NOUN
ajfa-9455	108	24	and	and	CCONJ
ajfa-9455	108	25	dfl	dfl	PROPN
ajfa-9455	108	26	are	be	AUX
ajfa-9455	108	27	price	price	NOUN
ajfa-9455	108	28	-	-	PUNCT
ajfa-9455	108	29	earnings	earning	NOUN
ajfa-9455	108	30	ratio	ratio	NOUN
ajfa-9455	108	31	,	,	PUNCT
ajfa-9455	108	32	degree	degree	NOUN
ajfa-9455	108	33	of	of	ADP
ajfa-9455	108	34	operating	operate	VERB
ajfa-9455	108	35	leverage	leverage	NOUN
ajfa-9455	108	36	and	and	CCONJ
ajfa-9455	108	37	degree	degree	NOUN
ajfa-9455	108	38	of	of	ADP
ajfa-9455	108	39	financial	financial	ADJ
ajfa-9455	108	40	leverage	leverage	NOUN
ajfa-9455	108	41	,	,	PUNCT
ajfa-9455	108	42	respectively	respectively	ADV
ajfa-9455	108	43	.	.	PUNCT
ajfa-9455	108	44	model	model	NOUN
ajfa-9455	108	45	2	2	NUM
ajfa-9455	108	46	:	:	PUNCT
ajfa-9455	108	47	ln(pe)i	ln(pe)i	X
ajfa-9455	108	48	=	=	SYM
ajfa-9455	108	49	λ0	λ0	NOUN
ajfa-9455	108	50	+	+	X
ajfa-9455	108	51	λ	λ	NOUN
ajfa-9455	108	52	1	1	NUM
ajfa-9455	108	53	(	(	PUNCT
ajfa-9455	108	54	dol)i	dol)i	PROPN
ajfa-9455	108	55	+	+	NUM
ajfa-9455	108	56	λ	λ	PROPN
ajfa-9455	108	57	2	2	NUM
ajfa-9455	108	58	(	(	PUNCT
ajfa-9455	108	59	dfl)i	dfl)i	PROPN
ajfa-9455	108	60	+	+	NUM
ajfa-9455	108	61	λ	λ	PROPN
ajfa-9455	108	62	3	3	NUM
ajfa-9455	108	63	ln(sales)i	ln(sales)i	NOUN
ajfa-9455	108	64	+	+	CCONJ
ajfa-9455	108	65	λ	λ	X
ajfa-9455	108	66	4	4	NUM
ajfa-9455	108	67	(	(	PUNCT
ajfa-9455	108	68	roa)i	roa)i	PROPN
ajfa-9455	108	69	+	+	SYM
ajfa-9455	108	70	ɇi	ɇi	PROPN
ajfa-9455	108	71	(	(	PUNCT
ajfa-9455	108	72	i=1	i=1	X
ajfa-9455	108	73	-	-	PUNCT
ajfa-9455	108	74	231	231	NUM
ajfa-9455	108	75	)	)	PUNCT
ajfa-9455	108	76	where	where	SCONJ
ajfa-9455	108	77	,	,	PUNCT
ajfa-9455	108	78	pe	pe	INTJ
ajfa-9455	108	79	,	,	PUNCT
ajfa-9455	108	80	dol	dol	NOUN
ajfa-9455	108	81	,	,	PUNCT
ajfa-9455	108	82	dfl	dfl	PROPN
ajfa-9455	108	83	are	be	AUX
ajfa-9455	108	84	price	price	NOUN
ajfa-9455	108	85	-	-	PUNCT
ajfa-9455	108	86	earnings	earning	NOUN
ajfa-9455	108	87	ratio	ratio	NOUN
ajfa-9455	108	88	,	,	PUNCT
ajfa-9455	108	89	degree	degree	NOUN
ajfa-9455	108	90	of	of	ADP
ajfa-9455	108	91	operating	operate	VERB
ajfa-9455	108	92	leverage	leverage	NOUN
ajfa-9455	108	93	,	,	PUNCT
ajfa-9455	108	94	degree	degree	NOUN
ajfa-9455	108	95	of	of	ADP
ajfa-9455	108	96	financial	financial	ADJ
ajfa-9455	108	97	leverage	leverage	NOUN
ajfa-9455	108	98	,	,	PUNCT
ajfa-9455	108	99	respectively	respectively	ADV
ajfa-9455	108	100	.	.	PUNCT
ajfa-9455	109	1	roa	roa	PROPN
ajfa-9455	109	2	(	(	PUNCT
ajfa-9455	109	3	return	return	VERB
ajfa-9455	109	4	on	on	ADP
ajfa-9455	109	5	assets	asset	NOUN
ajfa-9455	109	6	)	)	PUNCT
ajfa-9455	109	7	=	=	SYM
ajfa-9455	109	8	nopat	nopat	PROPN
ajfa-9455	109	9	/	/	SYM
ajfa-9455	109	10	ta	ta	PROPN
ajfa-9455	109	11	.	.	PUNCT
ajfa-9455	109	12	firm	firm	ADJ
ajfa-9455	109	13	size	size	NOUN
ajfa-9455	109	14	=	=	SYM
ajfa-9455	109	15	ln(sales	ln(sales	PROPN
ajfa-9455	109	16	)	)	PUNCT
ajfa-9455	109	17	.	.	PUNCT
ajfa-9455	110	1	to	to	PART
ajfa-9455	110	2	further	far	ADV
ajfa-9455	110	3	examining	examine	VERB
ajfa-9455	110	4	the	the	DET
ajfa-9455	110	5	model	model	NOUN
ajfa-9455	110	6	1	1	NUM
ajfa-9455	110	7	we	we	PRON
ajfa-9455	110	8	also	also	ADV
ajfa-9455	110	9	use	use	VERB
ajfa-9455	110	10	a	a	DET
ajfa-9455	110	11	portfolio	portfolio	NOUN
ajfa-9455	110	12	-	-	PUNCT
ajfa-9455	110	13	grouping	group	VERB
ajfa-9455	110	14	procedures	procedure	NOUN
ajfa-9455	110	15	(	(	PUNCT
ajfa-9455	110	16	beaver	beaver	NOUN
ajfa-9455	110	17	et	et	PROPN
ajfa-9455	110	18	al	al	PROPN
ajfa-9455	110	19	.	.	PROPN
ajfa-9455	110	20	1970	1970	NUM
ajfa-9455	110	21	;	;	PUNCT
ajfa-9455	110	22	black	black	PROPN
ajfa-9455	110	23	et	et	PROPN
ajfa-9455	110	24	al	al	PROPN
ajfa-9455	110	25	.	.	PROPN
ajfa-9455	110	26	1972	1972	NUM
ajfa-9455	110	27	;	;	PUNCT
ajfa-9455	110	28	fama	fama	PROPN
ajfa-9455	110	29	&	&	CCONJ
ajfa-9455	110	30	macbeth	macbeth	PROPN
ajfa-9455	110	31	,	,	PUNCT
ajfa-9455	110	32	1973	1973	NUM
ajfa-9455	110	33	)	)	PUNCT
ajfa-9455	110	34	employed	employ	VERB
ajfa-9455	110	35	by	by	ADP
ajfa-9455	110	36	mandelkar	mandelkar	NOUN
ajfa-9455	110	37	and	and	CCONJ
ajfa-9455	110	38	rhee	rhee	PROPN
ajfa-9455	110	39	(	(	PUNCT
ajfa-9455	110	40	1984	1984	NUM
ajfa-9455	110	41	)	)	PUNCT
ajfa-9455	110	42	to	to	PART
ajfa-9455	110	43	reduce	reduce	VERB
ajfa-9455	110	44	the	the	DET
ajfa-9455	110	45	errors	error	NOUN
ajfa-9455	110	46	-	-	PUNCT
ajfa-9455	110	47	in	in	ADP
ajfa-9455	110	48	-	-	PUNCT
ajfa-9455	110	49	variables	variable	NOUN
ajfa-9455	110	50	bias	bias	NOUN
ajfa-9455	110	51	.	.	PUNCT
ajfa-9455	111	1	under	under	ADP
ajfa-9455	111	2	this	this	DET
ajfa-9455	111	3	approach	approach	NOUN
ajfa-9455	111	4	,	,	PUNCT
ajfa-9455	111	5	the	the	DET
ajfa-9455	111	6	average	average	ADJ
ajfa-9455	111	7	values	value	NOUN
ajfa-9455	111	8	of	of	ADP
ajfa-9455	111	9	pe	pe	PROPN
ajfa-9455	111	10	,	,	PUNCT
ajfa-9455	111	11	dol	dol	NOUN
ajfa-9455	111	12	and	and	CCONJ
ajfa-9455	111	13	dfl	dfl	PROPN
ajfa-9455	111	14	of	of	ADP
ajfa-9455	111	15	total	total	ADJ
ajfa-9455	111	16	231	231	NUM
ajfa-9455	111	17	sample	sample	NOUN
ajfa-9455	111	18	firms	firm	NOUN
ajfa-9455	111	19	are	be	AUX
ajfa-9455	111	20	ranked	rank	VERB
ajfa-9455	111	21	in	in	ADP
ajfa-9455	111	22	ascending	ascend	VERB
ajfa-9455	111	23	order	order	NOUN
ajfa-9455	111	24	on	on	ADP
ajfa-9455	111	25	the	the	DET
ajfa-9455	111	26	basis	basis	NOUN
ajfa-9455	111	27	of	of	ADP
ajfa-9455	111	28	ten	ten	NUM
ajfa-9455	111	29	year	year	NOUN
ajfa-9455	111	30	average	average	ADJ
ajfa-9455	111	31	value	value	NOUN
ajfa-9455	111	32	of	of	ADP
ajfa-9455	111	33	beta	beta	NOUN
ajfa-9455	111	34	of	of	ADP
ajfa-9455	111	35	each	each	DET
ajfa-9455	111	36	firm	firm	NOUN
ajfa-9455	111	37	and	and	CCONJ
ajfa-9455	111	38	every	every	DET
ajfa-9455	111	39	three	three	NUM
ajfa-9455	111	40	firms	firm	NOUN
ajfa-9455	111	41	[	[	X
ajfa-9455	111	42	4	4	X
ajfa-9455	111	43	]	]	PUNCT
ajfa-9455	111	44	from	from	ADP
ajfa-9455	111	45	above	above	ADP
ajfa-9455	111	46	rank	rank	NOUN
ajfa-9455	111	47	order	order	NOUN
ajfa-9455	111	48	are	be	AUX
ajfa-9455	111	49	grouped	group	VERB
ajfa-9455	111	50	together	together	ADV
ajfa-9455	111	51	to	to	PART
ajfa-9455	111	52	form	form	VERB
ajfa-9455	111	53	a	a	DET
ajfa-9455	111	54	portfolio	portfolio	NOUN
ajfa-9455	111	55	.	.	PUNCT
ajfa-9455	112	1	this	this	PRON
ajfa-9455	112	2	means	mean	VERB
ajfa-9455	112	3	the	the	DET
ajfa-9455	112	4	first	first	ADJ
ajfa-9455	112	5	three	three	NUM
ajfa-9455	112	6	firms	firm	NOUN
ajfa-9455	112	7	form	form	VERB
ajfa-9455	112	8	portfolio	portfolio	NOUN
ajfa-9455	112	9	1	1	NUM
ajfa-9455	112	10	,	,	PUNCT
ajfa-9455	112	11	the	the	DET
ajfa-9455	112	12	next	next	ADJ
ajfa-9455	112	13	three	three	NUM
ajfa-9455	112	14	firms	firm	NOUN
ajfa-9455	112	15	form	form	VERB
ajfa-9455	112	16	portfolio	portfolio	NOUN
ajfa-9455	112	17	2	2	NUM
ajfa-9455	112	18	and	and	CCONJ
ajfa-9455	112	19	so	so	ADV
ajfa-9455	112	20	on	on	ADV
ajfa-9455	112	21	.	.	PUNCT
ajfa-9455	113	1	thus	thus	ADV
ajfa-9455	113	2	,	,	PUNCT
ajfa-9455	113	3	a	a	DET
ajfa-9455	113	4	total	total	NOUN
ajfa-9455	113	5	of	of	ADP
ajfa-9455	113	6	77	77	NUM
ajfa-9455	113	7	portfolios	portfolio	NOUN
ajfa-9455	113	8	are	be	AUX
ajfa-9455	113	9	formed	form	VERB
ajfa-9455	113	10	for	for	ADP
ajfa-9455	113	11	231	231	NUM
ajfa-9455	113	12	asian	asian	ADJ
ajfa-9455	113	13	journal	journal	NOUN
ajfa-9455	113	14	of	of	ADP
ajfa-9455	113	15	finance	finance	PROPN
ajfa-9455	113	16	&	&	CCONJ
ajfa-9455	113	17	accounting	accounting	PROPN
ajfa-9455	113	18	issn	issn	PROPN
ajfa-9455	113	19	1946	1946	NUM
ajfa-9455	113	20	-	-	PUNCT
ajfa-9455	113	21	052x	052x	PROPN
ajfa-9455	113	22	2016	2016	NUM
ajfa-9455	113	23	,	,	PUNCT
ajfa-9455	113	24	vol	vol	NOUN
ajfa-9455	113	25	.	.	PROPN
ajfa-9455	113	26	8	8	NUM
ajfa-9455	113	27	,	,	PUNCT
ajfa-9455	113	28	no	no	INTJ
ajfa-9455	113	29	.	.	NOUN
ajfa-9455	113	30	1	1	NUM
ajfa-9455	113	31	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-9455	113	32	219	219	NUM
ajfa-9455	113	33	firms	firm	NOUN
ajfa-9455	113	34	and	and	CCONJ
ajfa-9455	113	35	the	the	DET
ajfa-9455	113	36	regression	regression	NOUN
ajfa-9455	113	37	model	model	NOUN
ajfa-9455	113	38	3	3	NUM
ajfa-9455	113	39	is	be	AUX
ajfa-9455	113	40	to	to	PART
ajfa-9455	113	41	be	be	AUX
ajfa-9455	113	42	performed	perform	VERB
ajfa-9455	113	43	for	for	ADP
ajfa-9455	113	44	finding	find	VERB
ajfa-9455	113	45	the	the	DET
ajfa-9455	113	46	empirical	empirical	ADJ
ajfa-9455	113	47	results	result	NOUN
ajfa-9455	113	48	.	.	PUNCT
ajfa-9455	114	1	to	to	PART
ajfa-9455	114	2	have	have	VERB
ajfa-9455	114	3	the	the	DET
ajfa-9455	114	4	optimum	optimum	ADJ
ajfa-9455	114	5	number	number	NOUN
ajfa-9455	114	6	of	of	ADP
ajfa-9455	114	7	portfolios	portfolio	NOUN
ajfa-9455	114	8	in	in	ADP
ajfa-9455	114	9	the	the	DET
ajfa-9455	114	10	regression	regression	NOUN
ajfa-9455	114	11	model	model	NOUN
ajfa-9455	114	12	3	3	NUM
ajfa-9455	114	13	,	,	PUNCT
ajfa-9455	114	14	three	three	NUM
ajfa-9455	114	15	firms	firm	NOUN
ajfa-9455	114	16	in	in	ADP
ajfa-9455	114	17	each	each	DET
ajfa-9455	114	18	portfolio	portfolio	NOUN
ajfa-9455	114	19	have	have	AUX
ajfa-9455	114	20	been	be	AUX
ajfa-9455	114	21	considered	consider	VERB
ajfa-9455	114	22	.	.	PUNCT
ajfa-9455	115	1	the	the	DET
ajfa-9455	115	2	portfolio	portfolio	NOUN
ajfa-9455	115	3	of	of	ADP
ajfa-9455	115	4	four	four	NUM
ajfa-9455	115	5	firms	firm	NOUN
ajfa-9455	115	6	(	(	PUNCT
ajfa-9455	115	7	huffman	huffman	PROPN
ajfa-9455	115	8	,	,	PUNCT
ajfa-9455	115	9	1989	1989	NUM
ajfa-9455	115	10	)	)	PUNCT
ajfa-9455	115	11	and	and	CCONJ
ajfa-9455	115	12	five	five	NUM
ajfa-9455	115	13	firms	firm	NOUN
ajfa-9455	115	14	(	(	PUNCT
ajfa-9455	115	15	mandelkar	mandelkar	NOUN
ajfa-9455	115	16	and	and	CCONJ
ajfa-9455	115	17	rhee	rhee	PROPN
ajfa-9455	115	18	,	,	PUNCT
ajfa-9455	115	19	1984	1984	NUM
ajfa-9455	115	20	)	)	PUNCT
ajfa-9455	115	21	could	could	AUX
ajfa-9455	115	22	also	also	ADV
ajfa-9455	115	23	be	be	AUX
ajfa-9455	115	24	considered	consider	VERB
ajfa-9455	115	25	.	.	PUNCT
ajfa-9455	116	1	model	model	NOUN
ajfa-9455	116	2	3	3	NUM
ajfa-9455	116	3	:	:	PUNCT
ajfa-9455	116	4	ln(pe)p	ln(pe)p	NOUN
ajfa-9455	116	5	=	=	SYM
ajfa-9455	116	6	μ0	μ0	PROPN
ajfa-9455	116	7	+	+	CCONJ
ajfa-9455	116	8	μ1	μ1	PROPN
ajfa-9455	116	9	dolp	dolp	NOUN
ajfa-9455	116	10	+	+	CCONJ
ajfa-9455	116	11	μ2	μ2	NOUN
ajfa-9455	116	12	dflp	dflp	VERB
ajfa-9455	116	13	+	+	X
ajfa-9455	117	1	∂p	∂p	ADJ
ajfa-9455	117	2	,	,	PUNCT
ajfa-9455	117	3	(	(	PUNCT
ajfa-9455	117	4	p=1	p=1	NOUN
ajfa-9455	117	5	-	-	NOUN
ajfa-9455	117	6	77	77	NUM
ajfa-9455	117	7	)	)	PUNCT
ajfa-9455	117	8	where	where	SCONJ
ajfa-9455	117	9	,	,	PUNCT
ajfa-9455	117	10	pe	pe	PROPN
ajfa-9455	117	11	p	p	NOUN
ajfa-9455	117	12	,	,	PUNCT
ajfa-9455	117	13	dolp	dolp	PROPN
ajfa-9455	117	14	and	and	CCONJ
ajfa-9455	117	15	dflp	dflp	NOUN
ajfa-9455	117	16	are	be	AUX
ajfa-9455	117	17	the	the	DET
ajfa-9455	117	18	portfolio	portfolio	NOUN
ajfa-9455	117	19	(	(	PUNCT
ajfa-9455	117	20	p	p	NOUN
ajfa-9455	117	21	)	)	PUNCT
ajfa-9455	117	22	means	mean	NOUN
ajfa-9455	117	23	of	of	ADP
ajfa-9455	117	24	eachportfolio	eachportfolio	NOUN
ajfa-9455	117	25	respectively	respectively	ADV
ajfa-9455	117	26	.	.	PUNCT
ajfa-9455	118	1	∂p	∂p	PROPN
ajfa-9455	118	2	is	be	AUX
ajfa-9455	118	3	the	the	DET
ajfa-9455	118	4	error	error	NOUN
ajfa-9455	118	5	term	term	NOUN
ajfa-9455	118	6	.	.	PUNCT
ajfa-9455	119	1	4	4	X
ajfa-9455	119	2	.	.	NOUN
ajfa-9455	119	3	results	result	NOUN
ajfa-9455	119	4	and	and	CCONJ
ajfa-9455	119	5	analysis	analysis	NOUN
ajfa-9455	119	6	under	under	ADP
ajfa-9455	119	7	this	this	DET
ajfa-9455	119	8	section	section	NOUN
ajfa-9455	119	9	,	,	PUNCT
ajfa-9455	119	10	we	we	PRON
ajfa-9455	119	11	present	present	VERB
ajfa-9455	119	12	results	result	NOUN
ajfa-9455	119	13	and	and	CCONJ
ajfa-9455	119	14	discuss	discuss	VERB
ajfa-9455	119	15	the	the	DET
ajfa-9455	119	16	findings	finding	NOUN
ajfa-9455	119	17	by	by	ADP
ajfa-9455	119	18	tabulating	tabulate	VERB
ajfa-9455	119	19	table	table	NOUN
ajfa-9455	119	20	1	1	NUM
ajfa-9455	119	21	,	,	PUNCT
ajfa-9455	119	22	table	table	NOUN
ajfa-9455	119	23	2	2	NUM
ajfa-9455	119	24	and	and	CCONJ
ajfa-9455	119	25	table	table	NOUN
ajfa-9455	119	26	3	3	NUM
ajfa-9455	119	27	.	.	PUNCT
ajfa-9455	119	28	table	table	NOUN
ajfa-9455	119	29	1	1	NUM
ajfa-9455	119	30	presents	present	VERB
ajfa-9455	119	31	comparison	comparison	NOUN
ajfa-9455	119	32	of	of	ADP
ajfa-9455	119	33	means	mean	NOUN
ajfa-9455	119	34	of	of	ADP
ajfa-9455	119	35	pe	pe	PROPN
ajfa-9455	119	36	ratio	ratio	NOUN
ajfa-9455	119	37	,	,	PUNCT
ajfa-9455	119	38	dol	dol	NOUN
ajfa-9455	119	39	,	,	PUNCT
ajfa-9455	119	40	dfl	dfl	PROPN
ajfa-9455	119	41	,	,	PUNCT
ajfa-9455	119	42	roa	roa	PROPN
ajfa-9455	119	43	,	,	PUNCT
ajfa-9455	119	44	sales	sale	NOUN
ajfa-9455	119	45	and	and	CCONJ
ajfa-9455	119	46	beta	beta	NOUN
ajfa-9455	119	47	for	for	ADP
ajfa-9455	119	48	231	231	NUM
ajfa-9455	119	49	sample	sample	NOUN
ajfa-9455	119	50	firms	firm	NOUN
ajfa-9455	119	51	distributed	distribute	VERB
ajfa-9455	119	52	over	over	ADP
ajfa-9455	119	53	nine	nine	NUM
ajfa-9455	119	54	industries	industry	NOUN
ajfa-9455	119	55	.	.	PUNCT
ajfa-9455	120	1	table	table	NOUN
ajfa-9455	120	2	2	2	NUM
ajfa-9455	120	3	depicts	depict	VERB
ajfa-9455	120	4	the	the	DET
ajfa-9455	120	5	correlations	correlation	NOUN
ajfa-9455	120	6	among	among	ADP
ajfa-9455	120	7	the	the	DET
ajfa-9455	120	8	variables	variable	NOUN
ajfa-9455	120	9	under	under	ADP
ajfa-9455	120	10	study	study	NOUN
ajfa-9455	120	11	.	.	PUNCT
ajfa-9455	121	1	finally	finally	ADV
ajfa-9455	121	2	,	,	PUNCT
ajfa-9455	121	3	table	table	NOUN
ajfa-9455	121	4	3	3	NUM
ajfa-9455	121	5	presents	present	VERB
ajfa-9455	121	6	the	the	DET
ajfa-9455	121	7	results	result	NOUN
ajfa-9455	121	8	of	of	ADP
ajfa-9455	121	9	the	the	DET
ajfa-9455	121	10	proposed	propose	VERB
ajfa-9455	121	11	hypotheses	hypothesis	NOUN
ajfa-9455	121	12	formulated	formulate	VERB
ajfa-9455	121	13	in	in	ADP
ajfa-9455	121	14	regression	regression	NOUN
ajfa-9455	121	15	models	model	NOUN
ajfa-9455	121	16	(	(	PUNCT
ajfa-9455	121	17	model	model	NOUN
ajfa-9455	121	18	1	1	NUM
ajfa-9455	121	19	,	,	PUNCT
ajfa-9455	121	20	2	2	NUM
ajfa-9455	121	21	&	&	CCONJ
ajfa-9455	121	22	3	3	NUM
ajfa-9455	121	23	)	)	PUNCT
ajfa-9455	121	24	.	.	PUNCT
ajfa-9455	122	1	we	we	PRON
ajfa-9455	122	2	assign	assign	VERB
ajfa-9455	122	3	the	the	DET
ajfa-9455	122	4	codes	code	NOUN
ajfa-9455	122	5	from	from	ADP
ajfa-9455	122	6	one	one	NUM
ajfa-9455	122	7	to	to	ADP
ajfa-9455	122	8	nine	nine	NUM
ajfa-9455	122	9	to	to	ADP
ajfa-9455	122	10	the	the	DET
ajfa-9455	122	11	total	total	ADJ
ajfa-9455	122	12	sample	sample	NOUN
ajfa-9455	122	13	of	of	ADP
ajfa-9455	122	14	231	231	NUM
ajfa-9455	122	15	firms	firm	NOUN
ajfa-9455	122	16	distributed	distribute	VERB
ajfa-9455	122	17	over	over	ADP
ajfa-9455	122	18	nine	nine	NUM
ajfa-9455	122	19	industries	industry	NOUN
ajfa-9455	122	20	.	.	PUNCT
ajfa-9455	123	1	table	table	NOUN
ajfa-9455	123	2	1	1	NUM
ajfa-9455	123	3	presents	present	VERB
ajfa-9455	123	4	comparison	comparison	NOUN
ajfa-9455	123	5	of	of	ADP
ajfa-9455	123	6	means	mean	NOUN
ajfa-9455	123	7	of	of	ADP
ajfa-9455	123	8	pe	pe	PROPN
ajfa-9455	123	9	ratio	ratio	NOUN
ajfa-9455	123	10	,	,	PUNCT
ajfa-9455	123	11	dol	dol	NOUN
ajfa-9455	123	12	,	,	PUNCT
ajfa-9455	123	13	dfl	dfl	PROPN
ajfa-9455	123	14	,	,	PUNCT
ajfa-9455	123	15	roa	roa	PROPN
ajfa-9455	123	16	,	,	PUNCT
ajfa-9455	123	17	sales	sale	NOUN
ajfa-9455	123	18	and	and	CCONJ
ajfa-9455	123	19	beta	beta	NOUN
ajfa-9455	123	20	across	across	ADP
ajfa-9455	123	21	nine	nine	NUM
ajfa-9455	123	22	industries	industry	NOUN
ajfa-9455	123	23	.	.	PUNCT
ajfa-9455	124	1	the	the	DET
ajfa-9455	124	2	findings	finding	NOUN
ajfa-9455	124	3	from	from	ADP
ajfa-9455	124	4	the	the	DET
ajfa-9455	124	5	results	result	NOUN
ajfa-9455	124	6	of	of	ADP
ajfa-9455	124	7	table	table	NOUN
ajfa-9455	124	8	1	1	NUM
ajfa-9455	124	9	indicate	indicate	VERB
ajfa-9455	124	10	that	that	SCONJ
ajfa-9455	124	11	there	there	PRON
ajfa-9455	124	12	are	be	VERB
ajfa-9455	124	13	significant	significant	ADJ
ajfa-9455	124	14	differences	difference	NOUN
ajfa-9455	124	15	among	among	ADP
ajfa-9455	124	16	group	group	NOUN
ajfa-9455	124	17	means	mean	NOUN
ajfa-9455	124	18	of	of	ADP
ajfa-9455	124	19	dol	dol	NOUN
ajfa-9455	124	20	,	,	PUNCT
ajfa-9455	124	21	dfl	dfl	PROPN
ajfa-9455	124	22	,	,	PUNCT
ajfa-9455	124	23	roa	roa	PROPN
ajfa-9455	124	24	,	,	PUNCT
ajfa-9455	124	25	sales	sale	NOUN
ajfa-9455	124	26	and	and	CCONJ
ajfa-9455	124	27	beta	beta	NOUN
ajfa-9455	124	28	across	across	ADP
ajfa-9455	124	29	industries	industry	NOUN
ajfa-9455	124	30	.	.	PUNCT
ajfa-9455	125	1	this	this	PRON
ajfa-9455	125	2	means	mean	VERB
ajfa-9455	125	3	there	there	PRON
ajfa-9455	125	4	is	be	VERB
ajfa-9455	125	5	a	a	DET
ajfa-9455	125	6	significant	significant	ADJ
ajfa-9455	125	7	variation	variation	NOUN
ajfa-9455	125	8	in	in	ADP
ajfa-9455	125	9	the	the	DET
ajfa-9455	125	10	values	value	NOUN
ajfa-9455	125	11	of	of	ADP
ajfa-9455	125	12	accounting	accounting	NOUN
ajfa-9455	125	13	variables	variable	NOUN
ajfa-9455	125	14	across	across	ADP
ajfa-9455	125	15	industries	industry	NOUN
ajfa-9455	125	16	.	.	PUNCT
ajfa-9455	126	1	however	however	ADV
ajfa-9455	126	2	,	,	PUNCT
ajfa-9455	126	3	an	an	DET
ajfa-9455	126	4	insignificant	insignificant	ADJ
ajfa-9455	126	5	difference	difference	NOUN
ajfa-9455	126	6	among	among	ADP
ajfa-9455	126	7	group	group	NOUN
ajfa-9455	126	8	means	mean	NOUN
ajfa-9455	126	9	of	of	ADP
ajfa-9455	126	10	pe	pe	PROPN
ajfa-9455	126	11	ratio	ratio	NOUN
ajfa-9455	126	12	across	across	ADP
ajfa-9455	126	13	industries	industry	NOUN
ajfa-9455	126	14	is	be	AUX
ajfa-9455	126	15	found	find	VERB
ajfa-9455	126	16	.	.	PUNCT
ajfa-9455	127	1	this	this	PRON
ajfa-9455	127	2	suggests	suggest	VERB
ajfa-9455	127	3	that	that	SCONJ
ajfa-9455	127	4	industry	industry	NOUN
ajfa-9455	127	5	-	-	PUNCT
ajfa-9455	127	6	wise	wise	ADJ
ajfa-9455	127	7	pe	pe	NOUN
ajfa-9455	127	8	ratio	ratio	NOUN
ajfa-9455	127	9	does	do	AUX
ajfa-9455	127	10	not	not	PART
ajfa-9455	127	11	vary	vary	VERB
ajfa-9455	127	12	with	with	ADP
ajfa-9455	127	13	the	the	DET
ajfa-9455	127	14	variation	variation	NOUN
ajfa-9455	127	15	in	in	ADP
ajfa-9455	127	16	any	any	PRON
ajfa-9455	127	17	of	of	ADP
ajfa-9455	127	18	accounting	accounting	NOUN
ajfa-9455	127	19	variables	variable	NOUN
ajfa-9455	127	20	under	under	ADP
ajfa-9455	127	21	study	study	NOUN
ajfa-9455	127	22	.	.	PUNCT
ajfa-9455	128	1	asian	asian	ADJ
ajfa-9455	128	2	journal	journal	PROPN
ajfa-9455	128	3	of	of	ADP
ajfa-9455	128	4	finance	finance	PROPN
ajfa-9455	128	5	&	&	CCONJ
ajfa-9455	128	6	accounting	accounting	PROPN
ajfa-9455	128	7	issn	issn	PROPN
ajfa-9455	128	8	1946	1946	NUM
ajfa-9455	128	9	-	-	PUNCT
ajfa-9455	128	10	052x	052x	PROPN
ajfa-9455	128	11	2016	2016	NUM
ajfa-9455	128	12	,	,	PUNCT
ajfa-9455	128	13	vol	vol	NOUN
ajfa-9455	128	14	.	.	PROPN
ajfa-9455	128	15	8	8	NUM
ajfa-9455	128	16	,	,	PUNCT
ajfa-9455	128	17	no	no	INTJ
ajfa-9455	128	18	.	.	NOUN
ajfa-9455	128	19	1	1	NUM
ajfa-9455	128	20	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-9455	128	21	220	220	NUM
ajfa-9455	128	22	table	table	NOUN
ajfa-9455	128	23	1	1	NUM
ajfa-9455	128	24	.	.	PUNCT
ajfa-9455	128	25	comparison	comparison	NOUN
ajfa-9455	128	26	of	of	ADP
ajfa-9455	128	27	means	mean	NOUN
ajfa-9455	128	28	across	across	ADP
ajfa-9455	128	29	nine	nine	NUM
ajfa-9455	128	30	industries	industry	NOUN
ajfa-9455	128	31	sum	sum	NOUN
ajfa-9455	128	32	of	of	ADP
ajfa-9455	128	33	squares	square	NOUN
ajfa-9455	128	34	degree	degree	NOUN
ajfa-9455	128	35	of	of	ADP
ajfa-9455	128	36	freedom	freedom	NOUN
ajfa-9455	128	37	(	(	PUNCT
ajfa-9455	128	38	df	df	NOUN
ajfa-9455	128	39	)	)	PUNCT
ajfa-9455	128	40	mean	mean	VERB
ajfa-9455	128	41	square	square	ADJ
ajfa-9455	128	42	f	f	NOUN
ajfa-9455	128	43	-	-	PUNCT
ajfa-9455	128	44	statistic	statistic	NOUN
ajfa-9455	128	45	sig	sig	NOUN
ajfa-9455	128	46	.	.	PUNCT
ajfa-9455	129	1	pe	pe	PROPN
ajfa-9455	129	2	ratio	ratio	NOUN
ajfa-9455	129	3	between	between	ADP
ajfa-9455	129	4	groups	group	NOUN
ajfa-9455	129	5	within	within	ADP
ajfa-9455	129	6	groups	group	NOUN
ajfa-9455	129	7	total	total	VERB
ajfa-9455	129	8	3.854	3.854	NUM
ajfa-9455	129	9	109.932	109.932	NUM
ajfa-9455	129	10	113.786	113.786	NUM
ajfa-9455	129	11	8	8	NUM
ajfa-9455	129	12	222	222	NUM
ajfa-9455	129	13	230	230	NUM
ajfa-9455	129	14	.482	.482	NUM
ajfa-9455	129	15	.495	.495	NUM
ajfa-9455	129	16	0.973	0.973	NUM
ajfa-9455	129	17	.458	.458	NUM
ajfa-9455	129	18	dol	dol	VERB
ajfa-9455	129	19	between	between	ADP
ajfa-9455	129	20	groups	group	NOUN
ajfa-9455	129	21	within	within	ADP
ajfa-9455	129	22	groups	group	NOUN
ajfa-9455	129	23	total	total	VERB
ajfa-9455	129	24	0.584	0.584	NUM
ajfa-9455	129	25	4.645	4.645	NUM
ajfa-9455	129	26	5.229	5.229	NUM
ajfa-9455	129	27	8	8	NUM
ajfa-9455	129	28	222	222	NUM
ajfa-9455	129	29	230	230	NUM
ajfa-9455	129	30	.073	.073	NUM
ajfa-9455	129	31	.021	.021	NUM
ajfa-9455	129	32	3.486	3.486	NUM
ajfa-9455	129	33	.001	.001	NUM
ajfa-9455	129	34	*	*	SYM
ajfa-9455	129	35	dfl	dfl	X
ajfa-9455	129	36	between	between	ADP
ajfa-9455	129	37	groups	group	NOUN
ajfa-9455	129	38	within	within	ADP
ajfa-9455	129	39	groups	group	NOUN
ajfa-9455	129	40	total	total	VERB
ajfa-9455	129	41	0.534	0.534	NUM
ajfa-9455	129	42	6.603	6.603	NUM
ajfa-9455	129	43	7.137	7.137	NUM
ajfa-9455	129	44	8	8	NUM
ajfa-9455	129	45	222	222	NUM
ajfa-9455	129	46	230	230	NUM
ajfa-9455	129	47	.067	.067	NUM
ajfa-9455	129	48	.030	.030	NUM
ajfa-9455	129	49	2.243	2.243	NUM
ajfa-9455	129	50	.025	.025	NUM
ajfa-9455	129	51	*	*	PUNCT
ajfa-9455	129	52	*	*	NOUN
ajfa-9455	129	53	sales	sale	NOUN
ajfa-9455	129	54	between	between	ADP
ajfa-9455	129	55	groups	group	NOUN
ajfa-9455	129	56	within	within	ADP
ajfa-9455	129	57	groups	group	NOUN
ajfa-9455	129	58	total	total	VERB
ajfa-9455	129	59	28.246	28.246	NUM
ajfa-9455	129	60	435.692	435.692	NUM
ajfa-9455	129	61	463.939	463.939	NUM
ajfa-9455	129	62	8	8	NUM
ajfa-9455	129	63	222	222	NUM
ajfa-9455	129	64	230	230	NUM
ajfa-9455	129	65	3.531	3.531	NUM
ajfa-9455	129	66	1.963	1.963	NUM
ajfa-9455	129	67	1.799	1.799	NUM
ajfa-9455	129	68	.078	.078	NUM
ajfa-9455	129	69	*	*	PUNCT
ajfa-9455	129	70	*	*	PUNCT
ajfa-9455	129	71	*	*	PUNCT
ajfa-9455	129	72	roa	roa	NOUN
ajfa-9455	129	73	between	between	ADP
ajfa-9455	129	74	groups	group	NOUN
ajfa-9455	129	75	within	within	ADP
ajfa-9455	129	76	groups	group	NOUN
ajfa-9455	129	77	total	total	VERB
ajfa-9455	129	78	0.477	0.477	NUM
ajfa-9455	129	79	1.253	1.253	NUM
ajfa-9455	129	80	1.730	1.730	NUM
ajfa-9455	129	81	8	8	NUM
ajfa-9455	129	82	222	222	NUM
ajfa-9455	129	83	230	230	NUM
ajfa-9455	129	84	.060	.060	NUM
ajfa-9455	129	85	.006	.006	NUM
ajfa-9455	129	86	10.566	10.566	NUM
ajfa-9455	129	87	.000	.000	NUM
ajfa-9455	129	88	*	*	PUNCT
ajfa-9455	130	1	beta	beta	NOUN
ajfa-9455	130	2	between	between	ADP
ajfa-9455	130	3	groups	group	NOUN
ajfa-9455	130	4	within	within	ADP
ajfa-9455	130	5	groups	group	NOUN
ajfa-9455	130	6	total	total	VERB
ajfa-9455	130	7	1.160	1.160	NUM
ajfa-9455	130	8	11.501	11.501	NUM
ajfa-9455	130	9	12.661	12.661	NUM
ajfa-9455	130	10	8	8	NUM
ajfa-9455	130	11	222	222	NUM
ajfa-9455	130	12	230	230	NUM
ajfa-9455	130	13	.145	.145	NUM
ajfa-9455	130	14	.052	.052	NUM
ajfa-9455	130	15	2.798	2.798	NUM
ajfa-9455	130	16	.006	.006	NUM
ajfa-9455	130	17	*	*	PUNCT
ajfa-9455	130	18	*	*	PUNCT
ajfa-9455	130	19	significance	significance	NOUN
ajfa-9455	130	20	levels	level	NOUN
ajfa-9455	130	21	at	at	ADP
ajfa-9455	130	22	the	the	DET
ajfa-9455	130	23	01	01	NUM
ajfa-9455	130	24	per	per	ADP
ajfa-9455	130	25	cent	cent	NOUN
ajfa-9455	130	26	;	;	PUNCT
ajfa-9455	130	27	*	*	PUNCT
ajfa-9455	130	28	*	*	PUNCT
ajfa-9455	130	29	significance	significance	NOUN
ajfa-9455	130	30	levels	level	NOUN
ajfa-9455	130	31	at	at	ADP
ajfa-9455	130	32	the	the	DET
ajfa-9455	130	33	05	05	NUM
ajfa-9455	130	34	per	per	ADP
ajfa-9455	130	35	cent	cent	NOUN
ajfa-9455	130	36	,	,	PUNCT
ajfa-9455	130	37	*	*	PUNCT
ajfa-9455	130	38	*	*	PUNCT
ajfa-9455	130	39	*	*	NOUN
ajfa-9455	130	40	significance	significance	NOUN
ajfa-9455	130	41	levels	level	NOUN
ajfa-9455	130	42	at	at	ADP
ajfa-9455	130	43	the	the	DET
ajfa-9455	130	44	10	10	NUM
ajfa-9455	130	45	per	per	ADP
ajfa-9455	130	46	cent	cent	NOUN
ajfa-9455	130	47	.	.	PUNCT
ajfa-9455	131	1	the	the	DET
ajfa-9455	131	2	correlation	correlation	NOUN
ajfa-9455	131	3	matrix	matrix	NOUN
ajfa-9455	131	4	is	be	AUX
ajfa-9455	131	5	presented	present	VERB
ajfa-9455	131	6	in	in	ADP
ajfa-9455	131	7	table	table	NOUN
ajfa-9455	131	8	2	2	NUM
ajfa-9455	131	9	for	for	ADP
ajfa-9455	131	10	the	the	DET
ajfa-9455	131	11	variables	variable	NOUN
ajfa-9455	131	12	under	under	ADP
ajfa-9455	131	13	study	study	NOUN
ajfa-9455	131	14	.	.	PUNCT
ajfa-9455	132	1	in	in	ADP
ajfa-9455	132	2	table	table	NOUN
ajfa-9455	132	3	2	2	NUM
ajfa-9455	132	4	,	,	PUNCT
ajfa-9455	132	5	there	there	PRON
ajfa-9455	132	6	is	be	VERB
ajfa-9455	132	7	significant	significant	ADJ
ajfa-9455	132	8	negative	negative	ADJ
ajfa-9455	132	9	correlation	correlation	NOUN
ajfa-9455	132	10	between	between	ADP
ajfa-9455	132	11	log	log	NOUN
ajfa-9455	132	12	of	of	ADP
ajfa-9455	132	13	pe	pe	PROPN
ajfa-9455	132	14	and	and	CCONJ
ajfa-9455	132	15	dol	dol	NOUN
ajfa-9455	132	16	and	and	CCONJ
ajfa-9455	132	17	log	log	NOUN
ajfa-9455	132	18	of	of	ADP
ajfa-9455	132	19	pe	pe	PROPN
ajfa-9455	132	20	and	and	CCONJ
ajfa-9455	132	21	dfl	dfl	PROPN
ajfa-9455	132	22	.	.	PUNCT
ajfa-9455	133	1	this	this	PRON
ajfa-9455	133	2	means	mean	VERB
ajfa-9455	133	3	degrees	degree	NOUN
ajfa-9455	133	4	of	of	ADP
ajfa-9455	133	5	operating	operating	NOUN
ajfa-9455	133	6	and	and	CCONJ
ajfa-9455	133	7	financial	financial	ADJ
ajfa-9455	133	8	leverage	leverage	NOUN
ajfa-9455	133	9	adversely	adversely	ADV
ajfa-9455	133	10	affect	affect	VERB
ajfa-9455	133	11	the	the	DET
ajfa-9455	133	12	pe	pe	PROPN
ajfa-9455	133	13	ratio	ratio	NOUN
ajfa-9455	133	14	.	.	PUNCT
ajfa-9455	134	1	no	no	DET
ajfa-9455	134	2	significant	significant	ADJ
ajfa-9455	134	3	correlation	correlation	NOUN
ajfa-9455	134	4	is	be	AUX
ajfa-9455	134	5	found	find	VERB
ajfa-9455	134	6	between	between	ADP
ajfa-9455	134	7	log	log	NOUN
ajfa-9455	134	8	of	of	ADP
ajfa-9455	134	9	pe	pe	PROPN
ajfa-9455	134	10	and	and	CCONJ
ajfa-9455	134	11	roa	roa	PROPN
ajfa-9455	134	12	.	.	PUNCT
ajfa-9455	135	1	however	however	ADV
ajfa-9455	135	2	,	,	PUNCT
ajfa-9455	135	3	there	there	PRON
ajfa-9455	135	4	is	be	VERB
ajfa-9455	135	5	a	a	DET
ajfa-9455	135	6	significant	significant	ADJ
ajfa-9455	135	7	positive	positive	ADJ
ajfa-9455	135	8	correlation	correlation	NOUN
ajfa-9455	135	9	between	between	ADP
ajfa-9455	135	10	log	log	NOUN
ajfa-9455	135	11	of	of	ADP
ajfa-9455	135	12	pe	pe	PROPN
ajfa-9455	135	13	and	and	CCONJ
ajfa-9455	135	14	firm	firm	ADJ
ajfa-9455	135	15	size	size	NOUN
ajfa-9455	135	16	(	(	PUNCT
ajfa-9455	135	17	log	log	NOUN
ajfa-9455	135	18	of	of	ADP
ajfa-9455	135	19	sales	sale	NOUN
ajfa-9455	135	20	)	)	PUNCT
ajfa-9455	135	21	.	.	PUNCT
ajfa-9455	136	1	therefore	therefore	ADV
ajfa-9455	136	2	,	,	PUNCT
ajfa-9455	136	3	it	it	PRON
ajfa-9455	136	4	is	be	AUX
ajfa-9455	136	5	expected	expect	VERB
ajfa-9455	136	6	that	that	DET
ajfa-9455	136	7	size	size	NOUN
ajfa-9455	136	8	of	of	ADP
ajfa-9455	136	9	the	the	DET
ajfa-9455	136	10	firm	firm	NOUN
ajfa-9455	136	11	could	could	AUX
ajfa-9455	136	12	impact	impact	VERB
ajfa-9455	136	13	the	the	DET
ajfa-9455	136	14	price	price	NOUN
ajfa-9455	136	15	-	-	PUNCT
ajfa-9455	136	16	earnings	earning	NOUN
ajfa-9455	136	17	ratio	ratio	NOUN
ajfa-9455	136	18	but	but	CCONJ
ajfa-9455	136	19	it	it	PRON
ajfa-9455	136	20	may	may	AUX
ajfa-9455	136	21	not	not	PART
ajfa-9455	136	22	be	be	AUX
ajfa-9455	136	23	affected	affect	VERB
ajfa-9455	136	24	by	by	ADP
ajfa-9455	136	25	roa	roa	PROPN
ajfa-9455	136	26	.	.	PUNCT
ajfa-9455	137	1	this	this	PRON
ajfa-9455	137	2	indicates	indicate	VERB
ajfa-9455	137	3	the	the	DET
ajfa-9455	137	4	price	price	NOUN
ajfa-9455	137	5	-	-	PUNCT
ajfa-9455	137	6	earnings	earning	NOUN
ajfa-9455	137	7	ratio	ratio	NOUN
ajfa-9455	137	8	of	of	ADP
ajfa-9455	137	9	firms	firm	NOUN
ajfa-9455	137	10	operating	operate	VERB
ajfa-9455	137	11	in	in	ADP
ajfa-9455	137	12	manufacturing	manufacturing	NOUN
ajfa-9455	137	13	sector	sector	NOUN
ajfa-9455	137	14	in	in	ADP
ajfa-9455	137	15	india	india	PROPN
ajfa-9455	137	16	could	could	AUX
ajfa-9455	137	17	significantly	significantly	ADV
ajfa-9455	137	18	be	be	AUX
ajfa-9455	137	19	captured	capture	VERB
ajfa-9455	137	20	by	by	ADP
ajfa-9455	137	21	dol	dol	PROPN
ajfa-9455	137	22	,	,	PUNCT
ajfa-9455	137	23	dfl	dfl	PROPN
ajfa-9455	137	24	and	and	CCONJ
ajfa-9455	137	25	firm	firm	ADJ
ajfa-9455	137	26	size	size	NOUN
ajfa-9455	137	27	.	.	PUNCT
ajfa-9455	138	1	moreover	moreover	ADV
ajfa-9455	138	2	,	,	PUNCT
ajfa-9455	138	3	a	a	DET
ajfa-9455	138	4	significant	significant	ADJ
ajfa-9455	138	5	positive	positive	ADJ
ajfa-9455	138	6	correlation	correlation	NOUN
ajfa-9455	138	7	is	be	AUX
ajfa-9455	138	8	found	find	VERB
ajfa-9455	138	9	between	between	ADP
ajfa-9455	138	10	dol	dol	NOUN
ajfa-9455	138	11	and	and	CCONJ
ajfa-9455	138	12	dfl	dfl	PROPN
ajfa-9455	138	13	,	,	PUNCT
ajfa-9455	138	14	the	the	DET
ajfa-9455	138	15	independent	independent	ADJ
ajfa-9455	138	16	variables	variable	NOUN
ajfa-9455	138	17	.	.	PUNCT
ajfa-9455	139	1	thus	thus	ADV
ajfa-9455	139	2	,	,	PUNCT
ajfa-9455	139	3	any	any	DET
ajfa-9455	139	4	increased	increase	VERB
ajfa-9455	139	5	(	(	PUNCT
ajfa-9455	139	6	decreased	decrease	VERB
ajfa-9455	139	7	)	)	PUNCT
ajfa-9455	139	8	investments	investment	NOUN
ajfa-9455	139	9	in	in	ADP
ajfa-9455	139	10	fixed	fixed	ADJ
ajfa-9455	139	11	assets	asset	NOUN
ajfa-9455	139	12	can	can	AUX
ajfa-9455	139	13	also	also	ADV
ajfa-9455	139	14	increase	increase	VERB
ajfa-9455	139	15	(	(	PUNCT
ajfa-9455	139	16	decrease	decrease	NOUN
ajfa-9455	139	17	)	)	PUNCT
ajfa-9455	139	18	the	the	DET
ajfa-9455	139	19	total	total	ADJ
ajfa-9455	139	20	debt	debt	NOUN
ajfa-9455	139	21	of	of	ADP
ajfa-9455	139	22	the	the	DET
ajfa-9455	139	23	firms	firm	NOUN
ajfa-9455	139	24	since	since	SCONJ
ajfa-9455	139	25	we	we	PRON
ajfa-9455	139	26	measure	measure	VERB
ajfa-9455	139	27	dol	dol	NOUN
ajfa-9455	139	28	(	(	PUNCT
ajfa-9455	139	29	the	the	DET
ajfa-9455	139	30	ten	ten	NUM
ajfa-9455	139	31	year	year	NOUN
ajfa-9455	139	32	average	average	ADJ
ajfa-9455	139	33	ratio	ratio	NOUN
ajfa-9455	139	34	of	of	ADP
ajfa-9455	139	35	net	net	ADJ
ajfa-9455	139	36	fixed	fix	VERB
ajfa-9455	139	37	assets	asset	NOUN
ajfa-9455	139	38	to	to	ADP
ajfa-9455	139	39	total	total	ADJ
ajfa-9455	139	40	assets	asset	NOUN
ajfa-9455	139	41	)	)	PUNCT
ajfa-9455	139	42	and	and	CCONJ
ajfa-9455	139	43	dfl	dfl	PROPN
ajfa-9455	139	44	(	(	PUNCT
ajfa-9455	139	45	the	the	DET
ajfa-9455	139	46	ten	ten	NUM
ajfa-9455	139	47	year	year	NOUN
ajfa-9455	139	48	average	average	ADJ
ajfa-9455	139	49	ratio	ratio	NOUN
ajfa-9455	139	50	of	of	ADP
ajfa-9455	139	51	total	total	ADJ
ajfa-9455	139	52	debt	debt	NOUN
ajfa-9455	139	53	to	to	ADP
ajfa-9455	139	54	total	total	ADJ
ajfa-9455	139	55	assets	asset	NOUN
ajfa-9455	139	56	)	)	PUNCT
ajfa-9455	139	57	.	.	PUNCT
ajfa-9455	140	1	however	however	ADV
ajfa-9455	140	2	,	,	PUNCT
ajfa-9455	140	3	the	the	DET
ajfa-9455	140	4	problem	problem	NOUN
ajfa-9455	140	5	of	of	ADP
ajfa-9455	140	6	multicollinearity	multicollinearity	NOUN
ajfa-9455	140	7	[	[	X
ajfa-9455	140	8	5	5	NUM
ajfa-9455	140	9	]	]	PUNCT
ajfa-9455	140	10	does	do	AUX
ajfa-9455	140	11	not	not	PART
ajfa-9455	140	12	seem	seem	VERB
ajfa-9455	140	13	to	to	PART
ajfa-9455	140	14	exist	exist	VERB
ajfa-9455	140	15	even	even	ADV
ajfa-9455	140	16	though	though	SCONJ
ajfa-9455	140	17	independent	independent	ADJ
ajfa-9455	140	18	variables	variable	NOUN
ajfa-9455	140	19	(	(	PUNCT
ajfa-9455	140	20	dol	dol	NOUN
ajfa-9455	140	21	and	and	CCONJ
ajfa-9455	140	22	dfl	dfl	PROPN
ajfa-9455	140	23	)	)	PUNCT
ajfa-9455	140	24	are	be	AUX
ajfa-9455	140	25	highly	highly	ADV
ajfa-9455	140	26	correlated	correlate	VERB
ajfa-9455	140	27	.	.	PUNCT
ajfa-9455	141	1	the	the	DET
ajfa-9455	141	2	beta	beta	ADJ
ajfa-9455	141	3	values	value	NOUN
ajfa-9455	141	4	of	of	ADP
ajfa-9455	141	5	the	the	DET
ajfa-9455	141	6	firms	firm	NOUN
ajfa-9455	141	7	are	be	AUX
ajfa-9455	141	8	also	also	ADV
ajfa-9455	141	9	significantly	significantly	ADV
ajfa-9455	141	10	correlated	correlate	VERB
ajfa-9455	141	11	with	with	ADP
ajfa-9455	141	12	dol	dol	NOUN
ajfa-9455	141	13	and	and	CCONJ
ajfa-9455	141	14	dfl	dfl	PROPN
ajfa-9455	141	15	.	.	PUNCT
ajfa-9455	142	1	thus	thus	ADV
ajfa-9455	142	2	,	,	PUNCT
ajfa-9455	142	3	the	the	DET
ajfa-9455	142	4	portfolio	portfolio	NOUN
ajfa-9455	142	5	regression	regression	NOUN
ajfa-9455	142	6	model	model	NOUN
ajfa-9455	142	7	3	3	NUM
ajfa-9455	142	8	,	,	PUNCT
ajfa-9455	142	9	formed	form	VERB
ajfa-9455	142	10	on	on	ADP
ajfa-9455	142	11	the	the	DET
ajfa-9455	142	12	basis	basis	NOUN
ajfa-9455	142	13	of	of	ADP
ajfa-9455	142	14	beta	beta	ADJ
ajfa-9455	142	15	values	value	NOUN
ajfa-9455	142	16	,	,	PUNCT
ajfa-9455	142	17	is	be	AUX
ajfa-9455	142	18	expected	expect	VERB
ajfa-9455	142	19	to	to	PART
ajfa-9455	142	20	improve	improve	VERB
ajfa-9455	142	21	its	its	PRON
ajfa-9455	142	22	explanatory	explanatory	ADJ
ajfa-9455	142	23	power	power	NOUN
ajfa-9455	142	24	as	as	SCONJ
ajfa-9455	142	25	compared	compare	VERB
ajfa-9455	142	26	to	to	ADP
ajfa-9455	142	27	regression	regression	VERB
ajfa-9455	142	28	model	model	NOUN
ajfa-9455	142	29	1	1	NUM
ajfa-9455	142	30	and	and	CCONJ
ajfa-9455	142	31	model	model	NOUN
ajfa-9455	142	32	2	2	NUM
ajfa-9455	142	33	.	.	PUNCT
ajfa-9455	142	34	asian	asian	ADJ
ajfa-9455	142	35	journal	journal	PROPN
ajfa-9455	142	36	of	of	ADP
ajfa-9455	142	37	finance	finance	PROPN
ajfa-9455	142	38	&	&	CCONJ
ajfa-9455	142	39	accounting	accounting	PROPN
ajfa-9455	142	40	issn	issn	PROPN
ajfa-9455	142	41	1946	1946	NUM
ajfa-9455	142	42	-	-	PUNCT
ajfa-9455	142	43	052x	052x	PROPN
ajfa-9455	142	44	2016	2016	NUM
ajfa-9455	142	45	,	,	PUNCT
ajfa-9455	142	46	vol	vol	NOUN
ajfa-9455	142	47	.	.	PROPN
ajfa-9455	142	48	8	8	NUM
ajfa-9455	142	49	,	,	PUNCT
ajfa-9455	142	50	no	no	INTJ
ajfa-9455	143	1	.	.	NOUN
ajfa-9455	143	2	1	1	NUM
ajfa-9455	143	3	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-9455	143	4	221	221	NUM
ajfa-9455	143	5	table	table	NOUN
ajfa-9455	143	6	2	2	NUM
ajfa-9455	143	7	.	.	PUNCT
ajfa-9455	143	8	correlation	correlation	NOUN
ajfa-9455	143	9	(	(	PUNCT
ajfa-9455	143	10	pearson	pearson	PROPN
ajfa-9455	143	11	)	)	PUNCT
ajfa-9455	143	12	matrix	matrix	NOUN
ajfa-9455	143	13	ln(pe	ln(pe	NOUN
ajfa-9455	143	14	)	)	PUNCT
ajfa-9455	143	15	dol	dol	NOUN
ajfa-9455	143	16	dfl	dfl	PROPN
ajfa-9455	143	17	ln(sales	ln(sales	PROPN
ajfa-9455	143	18	)	)	PUNCT
ajfa-9455	143	19	roa	roa	PROPN
ajfa-9455	143	20	beta	beta	PROPN
ajfa-9455	143	21	ln(pe	ln(pe	PROPN
ajfa-9455	143	22	)	)	PUNCT
ajfa-9455	143	23	1.000	1.000	NUM
ajfa-9455	143	24	-0.213	-0.213	NUM
ajfa-9455	143	25	*	*	PUNCT
ajfa-9455	143	26	-0.188	-0.188	X
ajfa-9455	143	27	*	*	PUNCT
ajfa-9455	143	28	0.117	0.117	NUM
ajfa-9455	143	29	*	*	SYM
ajfa-9455	143	30	*	*	PUNCT
ajfa-9455	143	31	-0.007	-0.007	PUNCT
ajfa-9455	143	32	-0.078	-0.078	PROPN
ajfa-9455	143	33	dol	dol	VERB
ajfa-9455	143	34	1.000	1.000	NUM
ajfa-9455	143	35	0.488	0.488	NUM
ajfa-9455	143	36	*	*	PUNCT
ajfa-9455	143	37	0.024	0.024	NUM
ajfa-9455	143	38	0.088	0.088	NUM
ajfa-9455	143	39	0.155	0.155	NUM
ajfa-9455	143	40	*	*	SYM
ajfa-9455	143	41	dfl	dfl	PROPN
ajfa-9455	143	42	1.000	1.000	NUM
ajfa-9455	143	43	-0.071	-0.071	NUM
ajfa-9455	143	44	-0.084	-0.084	X
ajfa-9455	144	1	0.282	0.282	NUM
ajfa-9455	144	2	*	*	PUNCT
ajfa-9455	144	3	ln(sales	ln(sale	NOUN
ajfa-9455	144	4	)	)	PUNCT
ajfa-9455	144	5	1.000	1.000	NUM
ajfa-9455	144	6	0.033	0.033	NUM
ajfa-9455	144	7	0.219	0.219	NUM
ajfa-9455	144	8	*	*	SYM
ajfa-9455	144	9	roa	roa	PROPN
ajfa-9455	144	10	1.000	1.000	NUM
ajfa-9455	144	11	-0.153	-0.153	NOUN
ajfa-9455	144	12	*	*	PUNCT
ajfa-9455	144	13	beta	beta	NOUN
ajfa-9455	144	14	1.000	1.000	NUM
ajfa-9455	144	15	*	*	NOUN
ajfa-9455	144	16	significance	significance	NOUN
ajfa-9455	144	17	levels	level	NOUN
ajfa-9455	144	18	at	at	ADP
ajfa-9455	144	19	the	the	DET
ajfa-9455	144	20	01	01	NUM
ajfa-9455	144	21	per	per	ADP
ajfa-9455	144	22	cent	cent	NOUN
ajfa-9455	144	23	;	;	PUNCT
ajfa-9455	144	24	*	*	PUNCT
ajfa-9455	144	25	*	*	PUNCT
ajfa-9455	144	26	significance	significance	NOUN
ajfa-9455	144	27	levels	level	NOUN
ajfa-9455	144	28	at	at	ADP
ajfa-9455	144	29	the	the	DET
ajfa-9455	144	30	05	05	NUM
ajfa-9455	144	31	per	per	ADP
ajfa-9455	144	32	cent	cent	NOUN
ajfa-9455	144	33	,	,	PUNCT
ajfa-9455	144	34	*	*	PUNCT
ajfa-9455	144	35	*	*	PUNCT
ajfa-9455	144	36	*	*	NOUN
ajfa-9455	144	37	significance	significance	NOUN
ajfa-9455	144	38	levels	level	NOUN
ajfa-9455	144	39	at	at	ADP
ajfa-9455	144	40	the	the	DET
ajfa-9455	144	41	10	10	NUM
ajfa-9455	144	42	per	per	ADP
ajfa-9455	144	43	cent	cent	NOUN
ajfa-9455	144	44	.	.	PUNCT
ajfa-9455	145	1	in	in	ADP
ajfa-9455	145	2	table	table	NOUN
ajfa-9455	145	3	3	3	NUM
ajfa-9455	145	4	,	,	PUNCT
ajfa-9455	145	5	the	the	DET
ajfa-9455	145	6	cross	cross	ADJ
ajfa-9455	145	7	-	-	ADJ
ajfa-9455	145	8	section	section	ADJ
ajfa-9455	145	9	regression	regression	NOUN
ajfa-9455	145	10	models	model	NOUN
ajfa-9455	145	11	run	run	VERB
ajfa-9455	145	12	for	for	ADP
ajfa-9455	145	13	231	231	NUM
ajfa-9455	145	14	firms	firm	NOUN
ajfa-9455	145	15	estimate	estimate	VERB
ajfa-9455	145	16	the	the	DET
ajfa-9455	145	17	regression	regression	NOUN
ajfa-9455	145	18	coefficients	coefficient	NOUN
ajfa-9455	145	19	(	(	PUNCT
ajfa-9455	145	20	t	t	NOUN
ajfa-9455	145	21	-	-	PUNCT
ajfa-9455	145	22	statistic	statistic	NOUN
ajfa-9455	145	23	)	)	PUNCT
ajfa-9455	145	24	for	for	ADP
ajfa-9455	145	25	the	the	DET
ajfa-9455	145	26	predicted	predict	VERB
ajfa-9455	145	27	variable	variable	NOUN
ajfa-9455	145	28	(	(	PUNCT
ajfa-9455	145	29	pe	pe	INTJ
ajfa-9455	145	30	ratio	ratio	NOUN
ajfa-9455	145	31	)	)	PUNCT
ajfa-9455	145	32	.	.	PUNCT
ajfa-9455	146	1	the	the	DET
ajfa-9455	146	2	regression	regression	NOUN
ajfa-9455	146	3	coefficient	coefficient	NOUN
ajfa-9455	146	4	(	(	PUNCT
ajfa-9455	146	5	positive	positive	ADJ
ajfa-9455	146	6	or	or	CCONJ
ajfa-9455	146	7	negative	negative	ADJ
ajfa-9455	146	8	)	)	PUNCT
ajfa-9455	146	9	signs	sign	NOUN
ajfa-9455	146	10	are	be	AUX
ajfa-9455	146	11	predicted	predict	VERB
ajfa-9455	146	12	for	for	ADP
ajfa-9455	146	13	the	the	DET
ajfa-9455	146	14	relationship	relationship	NOUN
ajfa-9455	146	15	between	between	ADP
ajfa-9455	146	16	a	a	DET
ajfa-9455	146	17	predicted	predict	VERB
ajfa-9455	146	18	variable	variable	NOUN
ajfa-9455	146	19	(	(	PUNCT
ajfa-9455	146	20	pe	pe	NOUN
ajfa-9455	146	21	ratio	ratio	NOUN
ajfa-9455	146	22	)	)	PUNCT
ajfa-9455	146	23	and	and	CCONJ
ajfa-9455	146	24	each	each	DET
ajfa-9455	146	25	explanatory	explanatory	ADJ
ajfa-9455	146	26	variable	variable	NOUN
ajfa-9455	146	27	(	(	PUNCT
ajfa-9455	146	28	dol	dol	NOUN
ajfa-9455	146	29	,	,	PUNCT
ajfa-9455	146	30	dfl	dfl	PROPN
ajfa-9455	146	31	,	,	PUNCT
ajfa-9455	146	32	roa	roa	NOUN
ajfa-9455	146	33	and	and	CCONJ
ajfa-9455	146	34	firm	firm	ADJ
ajfa-9455	146	35	size	size	NOUN
ajfa-9455	146	36	)	)	PUNCT
ajfa-9455	146	37	based	base	VERB
ajfa-9455	146	38	upon	upon	SCONJ
ajfa-9455	146	39	the	the	DET
ajfa-9455	146	40	correlations	correlation	NOUN
ajfa-9455	146	41	among	among	ADP
ajfa-9455	146	42	variables	variable	NOUN
ajfa-9455	146	43	under	under	ADP
ajfa-9455	146	44	study	study	NOUN
ajfa-9455	146	45	as	as	SCONJ
ajfa-9455	146	46	presented	present	VERB
ajfa-9455	146	47	in	in	ADP
ajfa-9455	146	48	table	table	NOUN
ajfa-9455	146	49	2	2	NUM
ajfa-9455	146	50	.	.	PUNCT
ajfa-9455	147	1	all	all	DET
ajfa-9455	147	2	models	model	NOUN
ajfa-9455	147	3	are	be	AUX
ajfa-9455	147	4	found	find	VERB
ajfa-9455	147	5	statistically	statistically	ADV
ajfa-9455	147	6	fit	fit	ADJ
ajfa-9455	147	7	on	on	ADP
ajfa-9455	147	8	the	the	DET
ajfa-9455	147	9	basis	basis	NOUN
ajfa-9455	147	10	of	of	ADP
ajfa-9455	147	11	the	the	DET
ajfa-9455	147	12	values	value	NOUN
ajfa-9455	147	13	of	of	ADP
ajfa-9455	147	14	f	f	NOUN
ajfa-9455	147	15	-	-	PUNCT
ajfa-9455	147	16	statistic	statistic	ADJ
ajfa-9455	147	17	and	and	CCONJ
ajfa-9455	147	18	prob(f	prob(f	NOUN
ajfa-9455	147	19	-	-	PUNCT
ajfa-9455	147	20	statistic	statistic	NOUN
ajfa-9455	147	21	)	)	PUNCT
ajfa-9455	147	22	presented	present	VERB
ajfa-9455	147	23	in	in	ADP
ajfa-9455	147	24	table	table	NOUN
ajfa-9455	147	25	3	3	NUM
ajfa-9455	147	26	(	(	PUNCT
ajfa-9455	147	27	model	model	NOUN
ajfa-9455	147	28	1	1	NUM
ajfa-9455	147	29	:	:	PUNCT
ajfa-9455	147	30	6.582	6.582	NUM
ajfa-9455	147	31	,	,	PUNCT
ajfa-9455	147	32	p<1	p<1	ADJ
ajfa-9455	147	33	%	%	NOUN
ajfa-9455	147	34	;	;	PUNCT
ajfa-9455	147	35	model	model	NOUN
ajfa-9455	147	36	2	2	NUM
ajfa-9455	147	37	:	:	PUNCT
ajfa-9455	147	38	3.973	3.973	NUM
ajfa-9455	147	39	,	,	PUNCT
ajfa-9455	147	40	p<1	p<1	ADJ
ajfa-9455	147	41	%	%	NOUN
ajfa-9455	147	42	;	;	PUNCT
ajfa-9455	147	43	model	model	NOUN
ajfa-9455	147	44	3	3	NUM
ajfa-9455	147	45	:	:	SYM
ajfa-9455	147	46	2.773	2.773	NUM
ajfa-9455	147	47	,	,	PUNCT
ajfa-9455	147	48	p<10	p<10	NOUN
ajfa-9455	147	49	%	%	NOUN
ajfa-9455	147	50	)	)	PUNCT
ajfa-9455	147	51	.	.	PUNCT
ajfa-9455	148	1	the	the	DET
ajfa-9455	148	2	model	model	NOUN
ajfa-9455	148	3	1	1	NUM
ajfa-9455	148	4	indicates	indicate	VERB
ajfa-9455	148	5	that	that	SCONJ
ajfa-9455	148	6	dol	dol	NOUN
ajfa-9455	148	7	has	have	VERB
ajfa-9455	148	8	a	a	DET
ajfa-9455	148	9	statistically	statistically	ADV
ajfa-9455	148	10	significant	significant	ADJ
ajfa-9455	148	11	(	(	PUNCT
ajfa-9455	148	12	p<.05	p<.05	NOUN
ajfa-9455	148	13	,	,	PUNCT
ajfa-9455	148	14	-0.739	-0.739	NOUN
ajfa-9455	148	15	)	)	PUNCT
ajfa-9455	148	16	negative	negative	ADJ
ajfa-9455	148	17	association	association	NOUN
ajfa-9455	148	18	with	with	ADP
ajfa-9455	148	19	pe	pe	PROPN
ajfa-9455	148	20	ratio	ratio	NOUN
ajfa-9455	148	21	.	.	PUNCT
ajfa-9455	149	1	however	however	ADV
ajfa-9455	149	2	,	,	PUNCT
ajfa-9455	149	3	insignificant	insignificant	ADJ
ajfa-9455	149	4	(	(	PUNCT
ajfa-9455	149	5	p>.10	p>.10	ADJ
ajfa-9455	149	6	,	,	PUNCT
ajfa-9455	149	7	-0.444	-0.444	PRON
ajfa-9455	149	8	)	)	PUNCT
ajfa-9455	149	9	negative	negative	ADJ
ajfa-9455	149	10	association	association	NOUN
ajfa-9455	149	11	is	be	AUX
ajfa-9455	149	12	found	find	VERB
ajfa-9455	149	13	between	between	ADP
ajfa-9455	149	14	dfl	dfl	PROPN
ajfa-9455	149	15	and	and	CCONJ
ajfa-9455	149	16	pe	pe	ADP
ajfa-9455	149	17	ratio	ratio	NOUN
ajfa-9455	149	18	.	.	PUNCT
ajfa-9455	150	1	thus	thus	ADV
ajfa-9455	150	2	,	,	PUNCT
ajfa-9455	150	3	dol	dol	NOUN
ajfa-9455	150	4	has	have	VERB
ajfa-9455	150	5	a	a	DET
ajfa-9455	150	6	significant	significant	ADJ
ajfa-9455	150	7	impact	impact	NOUN
ajfa-9455	150	8	on	on	ADP
ajfa-9455	150	9	the	the	DET
ajfa-9455	150	10	firm	firm	ADJ
ajfa-9455	150	11	value	value	NOUN
ajfa-9455	150	12	but	but	CCONJ
ajfa-9455	150	13	dfl	dfl	PROPN
ajfa-9455	150	14	does	do	AUX
ajfa-9455	150	15	not	not	PART
ajfa-9455	150	16	impact	impact	VERB
ajfa-9455	150	17	the	the	DET
ajfa-9455	150	18	firm	firm	ADJ
ajfa-9455	150	19	value	value	NOUN
ajfa-9455	150	20	.	.	PUNCT
ajfa-9455	151	1	further	far	ADV
ajfa-9455	151	2	,	,	PUNCT
ajfa-9455	151	3	the	the	DET
ajfa-9455	151	4	results	result	NOUN
ajfa-9455	151	5	of	of	ADP
ajfa-9455	151	6	model	model	NOUN
ajfa-9455	151	7	2	2	NUM
ajfa-9455	151	8	shows	show	VERB
ajfa-9455	151	9	that	that	SCONJ
ajfa-9455	151	10	the	the	DET
ajfa-9455	151	11	control	control	NOUN
ajfa-9455	151	12	variables	variable	VERB
ajfa-9455	151	13	,	,	PUNCT
ajfa-9455	151	14	roa	roa	NOUN
ajfa-9455	151	15	and	and	CCONJ
ajfa-9455	151	16	firm	firm	ADJ
ajfa-9455	151	17	size	size	NOUN
ajfa-9455	151	18	,	,	PUNCT
ajfa-9455	151	19	have	have	VERB
ajfa-9455	151	20	a	a	DET
ajfa-9455	151	21	statistically	statistically	ADV
ajfa-9455	151	22	insignificant	insignificant	ADJ
ajfa-9455	151	23	association	association	NOUN
ajfa-9455	151	24	with	with	ADP
ajfa-9455	151	25	the	the	DET
ajfa-9455	151	26	pe	pe	PROPN
ajfa-9455	151	27	ratio	ratio	NOUN
ajfa-9455	151	28	.	.	PUNCT
ajfa-9455	152	1	this	this	PRON
ajfa-9455	152	2	means	mean	VERB
ajfa-9455	152	3	that	that	SCONJ
ajfa-9455	152	4	dfl	dfl	PROPN
ajfa-9455	152	5	,	,	PUNCT
ajfa-9455	152	6	roa	roa	NOUN
ajfa-9455	152	7	and	and	CCONJ
ajfa-9455	152	8	firm	firm	ADJ
ajfa-9455	152	9	size	size	NOUN
ajfa-9455	152	10	have	have	VERB
ajfa-9455	152	11	no	no	DET
ajfa-9455	152	12	impact	impact	NOUN
ajfa-9455	152	13	on	on	ADP
ajfa-9455	152	14	the	the	DET
ajfa-9455	152	15	firm	firm	ADJ
ajfa-9455	152	16	value	value	NOUN
ajfa-9455	152	17	.	.	PUNCT
ajfa-9455	153	1	however	however	ADV
ajfa-9455	153	2	,	,	PUNCT
ajfa-9455	153	3	a	a	DET
ajfa-9455	153	4	statistically	statistically	ADV
ajfa-9455	153	5	significant	significant	ADJ
ajfa-9455	153	6	negative	negative	ADJ
ajfa-9455	153	7	(	(	PUNCT
ajfa-9455	153	8	p<.05	p<.05	NOUN
ajfa-9455	153	9	,	,	PUNCT
ajfa-9455	153	10	-.741	-.741	NUM
ajfa-9455	153	11	)	)	PUNCT
ajfa-9455	153	12	impact	impact	NOUN
ajfa-9455	153	13	of	of	ADP
ajfa-9455	153	14	dol	dol	NOUN
ajfa-9455	153	15	on	on	ADP
ajfa-9455	153	16	the	the	DET
ajfa-9455	153	17	firm	firm	ADJ
ajfa-9455	153	18	value	value	NOUN
ajfa-9455	153	19	in	in	ADP
ajfa-9455	153	20	model	model	NOUN
ajfa-9455	153	21	2	2	NUM
ajfa-9455	153	22	support	support	VERB
ajfa-9455	153	23	the	the	DET
ajfa-9455	153	24	results	result	NOUN
ajfa-9455	153	25	of	of	ADP
ajfa-9455	153	26	model	model	NOUN
ajfa-9455	153	27	1	1	NUM
ajfa-9455	153	28	.	.	PUNCT
ajfa-9455	154	1	in	in	ADP
ajfa-9455	154	2	order	order	NOUN
ajfa-9455	154	3	to	to	PART
ajfa-9455	154	4	further	far	ADV
ajfa-9455	154	5	check	check	VERB
ajfa-9455	154	6	the	the	DET
ajfa-9455	154	7	robustness	robustness	NOUN
ajfa-9455	154	8	of	of	ADP
ajfa-9455	154	9	model	model	NOUN
ajfa-9455	154	10	1	1	NUM
ajfa-9455	154	11	and	and	CCONJ
ajfa-9455	154	12	model	model	NOUN
ajfa-9455	154	13	2	2	NUM
ajfa-9455	154	14	,	,	PUNCT
ajfa-9455	154	15	a	a	DET
ajfa-9455	154	16	portfolio	portfolio	NOUN
ajfa-9455	154	17	-	-	PUNCT
ajfa-9455	154	18	grouping	group	VERB
ajfa-9455	154	19	approach	approach	NOUN
ajfa-9455	154	20	is	be	AUX
ajfa-9455	154	21	adopted	adopt	VERB
ajfa-9455	154	22	and	and	CCONJ
ajfa-9455	154	23	77	77	NUM
ajfa-9455	154	24	portfolios	portfolio	NOUN
ajfa-9455	154	25	(	(	PUNCT
ajfa-9455	154	26	three	three	NUM
ajfa-9455	154	27	firms	firm	NOUN
ajfa-9455	154	28	in	in	ADP
ajfa-9455	154	29	a	a	DET
ajfa-9455	154	30	portfolio	portfolio	NOUN
ajfa-9455	154	31	for	for	ADP
ajfa-9455	154	32	231	231	NUM
ajfa-9455	154	33	firms	firm	NOUN
ajfa-9455	154	34	)	)	PUNCT
ajfa-9455	154	35	are	be	AUX
ajfa-9455	154	36	formed	form	VERB
ajfa-9455	154	37	in	in	ADP
ajfa-9455	154	38	ascending	ascend	VERB
ajfa-9455	154	39	order	order	NOUN
ajfa-9455	154	40	based	base	VERB
ajfa-9455	154	41	upon	upon	SCONJ
ajfa-9455	154	42	the	the	DET
ajfa-9455	154	43	beta	beta	ADJ
ajfa-9455	154	44	values	value	NOUN
ajfa-9455	154	45	of	of	ADP
ajfa-9455	154	46	231	231	NUM
ajfa-9455	154	47	sample	sample	NOUN
ajfa-9455	154	48	firms	firm	NOUN
ajfa-9455	154	49	in	in	ADP
ajfa-9455	154	50	model	model	NOUN
ajfa-9455	154	51	3	3	NUM
ajfa-9455	154	52	.	.	PUNCT
ajfa-9455	155	1	the	the	DET
ajfa-9455	155	2	results	result	NOUN
ajfa-9455	155	3	of	of	ADP
ajfa-9455	155	4	model	model	NOUN
ajfa-9455	155	5	3	3	NUM
ajfa-9455	155	6	indicates	indicate	VERB
ajfa-9455	155	7	the	the	DET
ajfa-9455	155	8	consistency	consistency	NOUN
ajfa-9455	155	9	in	in	ADP
ajfa-9455	155	10	the	the	DET
ajfa-9455	155	11	results	result	NOUN
ajfa-9455	155	12	,	,	PUNCT
ajfa-9455	155	13	significant	significant	ADJ
ajfa-9455	155	14	association	association	NOUN
ajfa-9455	155	15	between	between	ADP
ajfa-9455	155	16	dol	dol	NOUN
ajfa-9455	155	17	and	and	CCONJ
ajfa-9455	155	18	firm	firm	ADJ
ajfa-9455	155	19	value	value	NOUN
ajfa-9455	155	20	and	and	CCONJ
ajfa-9455	155	21	insignificant	insignificant	ADJ
ajfa-9455	155	22	association	association	NOUN
ajfa-9455	155	23	between	between	ADP
ajfa-9455	155	24	dfl	dfl	PROPN
ajfa-9455	155	25	and	and	CCONJ
ajfa-9455	155	26	firm	firm	ADJ
ajfa-9455	155	27	value	value	NOUN
ajfa-9455	155	28	,	,	PUNCT
ajfa-9455	155	29	found	find	VERB
ajfa-9455	155	30	in	in	ADP
ajfa-9455	155	31	model	model	NOUN
ajfa-9455	155	32	1	1	NUM
ajfa-9455	155	33	and	and	CCONJ
ajfa-9455	155	34	model	model	NOUN
ajfa-9455	155	35	2	2	NUM
ajfa-9455	155	36	.	.	PUNCT
ajfa-9455	156	1	besides	besides	ADV
ajfa-9455	156	2	,	,	PUNCT
ajfa-9455	156	3	as	as	SCONJ
ajfa-9455	156	4	expected	expect	VERB
ajfa-9455	156	5	the	the	DET
ajfa-9455	156	6	explanatory	explanatory	ADJ
ajfa-9455	156	7	power	power	NOUN
ajfa-9455	156	8	of	of	ADP
ajfa-9455	156	9	model	model	NOUN
ajfa-9455	156	10	3	3	NUM
ajfa-9455	156	11	(	(	PUNCT
ajfa-9455	156	12	r2=7	r2=7	PROPN
ajfa-9455	156	13	%	%	NOUN
ajfa-9455	156	14	)	)	PUNCT
ajfa-9455	156	15	is	be	AUX
ajfa-9455	156	16	slightly	slightly	ADV
ajfa-9455	156	17	higher	high	ADJ
ajfa-9455	156	18	than	than	ADP
ajfa-9455	156	19	the	the	DET
ajfa-9455	156	20	model	model	NOUN
ajfa-9455	156	21	1	1	NUM
ajfa-9455	156	22	and	and	CCONJ
ajfa-9455	156	23	model	model	NOUN
ajfa-9455	156	24	2	2	NUM
ajfa-9455	156	25	.	.	PUNCT
ajfa-9455	157	1	however	however	ADV
ajfa-9455	157	2	,	,	PUNCT
ajfa-9455	157	3	the	the	DET
ajfa-9455	157	4	expected	expect	VERB
ajfa-9455	157	5	results	result	NOUN
ajfa-9455	157	6	are	be	AUX
ajfa-9455	157	7	not	not	PART
ajfa-9455	157	8	found	find	VERB
ajfa-9455	157	9	if	if	SCONJ
ajfa-9455	157	10	portfolios	portfolio	NOUN
ajfa-9455	157	11	are	be	AUX
ajfa-9455	157	12	formed	form	VERB
ajfa-9455	157	13	on	on	ADP
ajfa-9455	157	14	the	the	DET
ajfa-9455	157	15	basis	basis	NOUN
ajfa-9455	157	16	of	of	ADP
ajfa-9455	157	17	four	four	NUM
ajfa-9455	157	18	firms	firm	NOUN
ajfa-9455	157	19	and	and	CCONJ
ajfa-9455	157	20	five	five	NUM
ajfa-9455	157	21	firms	firm	NOUN
ajfa-9455	157	22	for	for	ADP
ajfa-9455	157	23	232	232	NUM
ajfa-9455	157	24	firms	firm	NOUN
ajfa-9455	157	25	(	(	PUNCT
ajfa-9455	157	26	58	58	NUM
ajfa-9455	157	27	portfolios	portfolio	NOUN
ajfa-9455	157	28	of	of	ADP
ajfa-9455	157	29	four	four	NUM
ajfa-9455	157	30	firms	firm	NOUN
ajfa-9455	157	31	each	each	PRON
ajfa-9455	157	32	)	)	PUNCT
ajfa-9455	157	33	and	and	CCONJ
ajfa-9455	157	34	230	230	NUM
ajfa-9455	157	35	firms	firm	NOUN
ajfa-9455	157	36	(	(	PUNCT
ajfa-9455	157	37	46	46	NUM
ajfa-9455	157	38	portfolios	portfolio	NOUN
ajfa-9455	157	39	of	of	ADP
ajfa-9455	157	40	five	five	NUM
ajfa-9455	157	41	firms	firm	NOUN
ajfa-9455	157	42	each	each	PRON
ajfa-9455	157	43	)	)	PUNCT
ajfa-9455	157	44	,	,	PUNCT
ajfa-9455	157	45	respectively	respectively	ADV
ajfa-9455	157	46	.	.	PUNCT
ajfa-9455	158	1	it	it	PRON
ajfa-9455	158	2	happens	happen	VERB
ajfa-9455	158	3	due	due	ADJ
ajfa-9455	158	4	to	to	ADP
ajfa-9455	158	5	less	less	ADJ
ajfa-9455	158	6	number	number	NOUN
ajfa-9455	158	7	of	of	ADP
ajfa-9455	158	8	portfolios	portfolio	NOUN
ajfa-9455	158	9	in	in	ADP
ajfa-9455	158	10	regression	regression	NOUN
ajfa-9455	158	11	model	model	NOUN
ajfa-9455	158	12	3	3	NUM
ajfa-9455	158	13	.	.	PUNCT
ajfa-9455	159	1	thus	thus	ADV
ajfa-9455	159	2	,	,	PUNCT
ajfa-9455	159	3	the	the	DET
ajfa-9455	159	4	findings	finding	NOUN
ajfa-9455	159	5	partially	partially	ADV
ajfa-9455	159	6	support	support	VERB
ajfa-9455	159	7	our	our	PRON
ajfa-9455	159	8	empirical	empirical	ADJ
ajfa-9455	159	9	investigation	investigation	NOUN
ajfa-9455	159	10	that	that	SCONJ
ajfa-9455	159	11	dol	dol	ADJ
ajfa-9455	159	12	impacts	impact	NOUN
ajfa-9455	159	13	firm	firm	ADJ
ajfa-9455	159	14	value	value	NOUN
ajfa-9455	159	15	;	;	PUNCT
ajfa-9455	159	16	thereby	thereby	ADV
ajfa-9455	159	17	dol	dol	NOUN
ajfa-9455	159	18	is	be	AUX
ajfa-9455	159	19	valued	value	VERB
ajfa-9455	159	20	by	by	ADP
ajfa-9455	159	21	asian	asian	ADJ
ajfa-9455	159	22	journal	journal	PROPN
ajfa-9455	159	23	of	of	ADP
ajfa-9455	159	24	finance	finance	PROPN
ajfa-9455	159	25	&	&	CCONJ
ajfa-9455	159	26	accounting	accounting	PROPN
ajfa-9455	159	27	issn	issn	PROPN
ajfa-9455	159	28	1946	1946	NUM
ajfa-9455	159	29	-	-	PUNCT
ajfa-9455	159	30	052x	052x	PROPN
ajfa-9455	159	31	2016	2016	NUM
ajfa-9455	159	32	,	,	PUNCT
ajfa-9455	159	33	vol	vol	NOUN
ajfa-9455	159	34	.	.	PROPN
ajfa-9455	159	35	8	8	NUM
ajfa-9455	159	36	,	,	PUNCT
ajfa-9455	159	37	no	no	INTJ
ajfa-9455	159	38	.	.	NOUN
ajfa-9455	159	39	1	1	NUM
ajfa-9455	159	40	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-9455	159	41	222	222	NUM
ajfa-9455	159	42	the	the	DET
ajfa-9455	159	43	investors	investor	NOUN
ajfa-9455	159	44	at	at	ADP
ajfa-9455	159	45	the	the	DET
ajfa-9455	159	46	levels	level	NOUN
ajfa-9455	159	47	of	of	ADP
ajfa-9455	159	48	individual	individual	ADJ
ajfa-9455	159	49	firm	firm	NOUN
ajfa-9455	159	50	and	and	CCONJ
ajfa-9455	159	51	portfolio	portfolio	NOUN
ajfa-9455	159	52	of	of	ADP
ajfa-9455	159	53	firms	firm	NOUN
ajfa-9455	159	54	.	.	PUNCT
ajfa-9455	160	1	since	since	SCONJ
ajfa-9455	160	2	dfl	dfl	PROPN
ajfa-9455	160	3	has	have	VERB
ajfa-9455	160	4	no	no	DET
ajfa-9455	160	5	impact	impact	NOUN
ajfa-9455	160	6	on	on	ADP
ajfa-9455	160	7	firm	firm	ADJ
ajfa-9455	160	8	value	value	NOUN
ajfa-9455	160	9	,	,	PUNCT
ajfa-9455	160	10	therefore	therefore	ADV
ajfa-9455	160	11	this	this	PRON
ajfa-9455	160	12	shows	show	VERB
ajfa-9455	160	13	that	that	SCONJ
ajfa-9455	160	14	firm	firm	ADJ
ajfa-9455	160	15	value	value	NOUN
ajfa-9455	160	16	is	be	AUX
ajfa-9455	160	17	independent	independent	ADJ
ajfa-9455	160	18	of	of	ADP
ajfa-9455	160	19	the	the	DET
ajfa-9455	160	20	capital	capital	NOUN
ajfa-9455	160	21	structure	structure	NOUN
ajfa-9455	160	22	(	(	PUNCT
ajfa-9455	160	23	portion	portion	NOUN
ajfa-9455	160	24	of	of	ADP
ajfa-9455	160	25	total	total	ADJ
ajfa-9455	160	26	debt	debt	NOUN
ajfa-9455	160	27	in	in	ADP
ajfa-9455	160	28	total	total	ADJ
ajfa-9455	160	29	assets	asset	NOUN
ajfa-9455	160	30	)	)	PUNCT
ajfa-9455	160	31	of	of	ADP
ajfa-9455	160	32	the	the	DET
ajfa-9455	160	33	firms	firm	NOUN
ajfa-9455	160	34	which	which	PRON
ajfa-9455	160	35	is	be	AUX
ajfa-9455	160	36	consistent	consistent	ADJ
ajfa-9455	160	37	with	with	ADP
ajfa-9455	160	38	the	the	DET
ajfa-9455	160	39	mm	mm	PROPN
ajfa-9455	160	40	hypothesis	hypothesis	NOUN
ajfa-9455	160	41	that	that	SCONJ
ajfa-9455	160	42	"	"	PUNCT
ajfa-9455	160	43	the	the	DET
ajfa-9455	160	44	market	market	NOUN
ajfa-9455	160	45	value	value	NOUN
ajfa-9455	160	46	of	of	ADP
ajfa-9455	160	47	any	any	DET
ajfa-9455	160	48	firm	firm	NOUN
ajfa-9455	160	49	is	be	AUX
ajfa-9455	160	50	independent	independent	ADJ
ajfa-9455	160	51	of	of	ADP
ajfa-9455	160	52	its	its	PRON
ajfa-9455	160	53	capital	capital	NOUN
ajfa-9455	160	54	structure	structure	NOUN
ajfa-9455	160	55	"	"	PUNCT
ajfa-9455	160	56	(	(	PUNCT
ajfa-9455	160	57	modigliani	modigliani	PROPN
ajfa-9455	160	58	and	and	CCONJ
ajfa-9455	160	59	miller	miller	PROPN
ajfa-9455	160	60	,	,	PUNCT
ajfa-9455	160	61	1958	1958	NUM
ajfa-9455	160	62	)	)	PUNCT
ajfa-9455	160	63	.	.	PUNCT
ajfa-9455	161	1	table	table	NOUN
ajfa-9455	162	1	3	3	NUM
ajfa-9455	162	2	.	.	PUNCT
ajfa-9455	162	3	results	result	NOUN
ajfa-9455	162	4	from	from	ADP
ajfa-9455	162	5	regression	regression	NOUN
ajfa-9455	162	6	models	model	NOUN
ajfa-9455	162	7	model	model	VERB
ajfa-9455	162	8	1	1	NUM
ajfa-9455	162	9	:	:	PUNCT
ajfa-9455	162	10	ln(pe)i	ln(pe)i	X
ajfa-9455	163	1	=	=	SYM
ajfa-9455	163	2	ω	ω	PROPN
ajfa-9455	163	3	0	0	PUNCT
ajfa-9455	164	1	+	+	CCONJ
ajfa-9455	164	2	ω	ω	NUM
ajfa-9455	164	3	1	1	NUM
ajfa-9455	164	4	(	(	PUNCT
ajfa-9455	164	5	dol)i	dol)i	PROPN
ajfa-9455	164	6	+	+	PROPN
ajfa-9455	164	7	ω	ω	NUM
ajfa-9455	164	8	2	2	NUM
ajfa-9455	164	9	(	(	PUNCT
ajfa-9455	164	10	dfl)i	dfl)i	PROPN
ajfa-9455	164	11	+	+	NOUN
ajfa-9455	164	12	€	€	SYM
ajfa-9455	164	13	i	i	PRON
ajfa-9455	164	14	,	,	PUNCT
ajfa-9455	164	15	(	(	PUNCT
ajfa-9455	164	16	i=1	i=1	X
ajfa-9455	164	17	-	-	PUNCT
ajfa-9455	164	18	231	231	NUM
ajfa-9455	164	19	)	)	PUNCT
ajfa-9455	164	20	model	model	NOUN
ajfa-9455	164	21	2	2	NUM
ajfa-9455	164	22	:	:	PUNCT
ajfa-9455	164	23	ln(pe)i	ln(pe)i	X
ajfa-9455	164	24	=	=	SYM
ajfa-9455	164	25	λ0	λ0	NOUN
ajfa-9455	164	26	+	+	X
ajfa-9455	164	27	λ	λ	NOUN
ajfa-9455	164	28	1	1	NUM
ajfa-9455	164	29	(	(	PUNCT
ajfa-9455	164	30	dol)i	dol)i	PROPN
ajfa-9455	164	31	+	+	NUM
ajfa-9455	164	32	λ	λ	PROPN
ajfa-9455	164	33	2	2	NUM
ajfa-9455	164	34	(	(	PUNCT
ajfa-9455	164	35	dfl)i	dfl)i	PROPN
ajfa-9455	164	36	+	+	NUM
ajfa-9455	164	37	λ	λ	PROPN
ajfa-9455	164	38	3	3	NUM
ajfa-9455	164	39	ln(sales)i	ln(sales)i	NOUN
ajfa-9455	164	40	+	+	CCONJ
ajfa-9455	164	41	λ	λ	X
ajfa-9455	164	42	4	4	NUM
ajfa-9455	164	43	(	(	PUNCT
ajfa-9455	164	44	roa)i	roa)i	PROPN
ajfa-9455	164	45	+	+	SYM
ajfa-9455	164	46	ɇi	ɇi	PROPN
ajfa-9455	164	47	(	(	PUNCT
ajfa-9455	164	48	i=1	i=1	X
ajfa-9455	164	49	-	-	PUNCT
ajfa-9455	164	50	231	231	NUM
ajfa-9455	164	51	)	)	PUNCT
ajfa-9455	164	52	model	model	NOUN
ajfa-9455	164	53	3	3	NUM
ajfa-9455	164	54	:	:	PUNCT
ajfa-9455	164	55	ln(pe)p	ln(pe)p	NOUN
ajfa-9455	164	56	=	=	SYM
ajfa-9455	164	57	μ0	μ0	PROPN
ajfa-9455	164	58	+	+	CCONJ
ajfa-9455	164	59	μ1	μ1	PROPN
ajfa-9455	164	60	dolp	dolp	NOUN
ajfa-9455	164	61	+	+	CCONJ
ajfa-9455	164	62	μ2	μ2	NOUN
ajfa-9455	164	63	dflp	dflp	VERB
ajfa-9455	164	64	+	+	X
ajfa-9455	165	1	∂p	∂p	ADJ
ajfa-9455	165	2	,	,	PUNCT
ajfa-9455	165	3	(	(	PUNCT
ajfa-9455	165	4	p=1	p=1	NOUN
ajfa-9455	165	5	-	-	PUNCT
ajfa-9455	165	6	77	77	NUM
ajfa-9455	165	7	)	)	PUNCT
ajfa-9455	165	8	dependent	dependent	ADJ
ajfa-9455	165	9	variable	variable	NOUN
ajfa-9455	165	10	:	:	PUNCT
ajfa-9455	165	11	pe	pe	PROPN
ajfa-9455	165	12	ratio	ratio	NOUN
ajfa-9455	165	13	coefficient	coefficient	NOUN
ajfa-9455	165	14	estimate	estimate	NOUN
ajfa-9455	165	15	(	(	PUNCT
ajfa-9455	165	16	t	t	NOUN
ajfa-9455	165	17	-	-	PUNCT
ajfa-9455	165	18	statistic	statistic	NOUN
ajfa-9455	165	19	)	)	PUNCT
ajfa-9455	165	20	variable	variable	NOUN
ajfa-9455	165	21	predicted	predict	VERB
ajfa-9455	165	22	sign	sign	NOUN
ajfa-9455	165	23	model	model	NOUN
ajfa-9455	165	24	1	1	NUM
ajfa-9455	165	25	model	model	NOUN
ajfa-9455	165	26	2	2	NUM
ajfa-9455	165	27	model	model	NOUN
ajfa-9455	165	28	3	3	NUM
ajfa-9455	165	29	intercept	intercept	NOUN
ajfa-9455	165	30	2.845	2.845	NUM
ajfa-9455	165	31	*	*	PUNCT
ajfa-9455	165	32	(	(	PUNCT
ajfa-9455	165	33	24.557	24.557	NUM
ajfa-9455	165	34	)	)	PUNCT
ajfa-9455	165	35	2.365	2.365	NUM
ajfa-9455	165	36	*	*	SYM
ajfa-9455	165	37	(	(	PUNCT
ajfa-9455	165	38	7.397	7.397	NUM
ajfa-9455	165	39	)	)	PUNCT
ajfa-9455	165	40	3.144	3.144	NUM
ajfa-9455	165	41	*	*	SYM
ajfa-9455	165	42	(	(	PUNCT
ajfa-9455	165	43	13.416	13.416	NUM
ajfa-9455	165	44	)	)	PUNCT
ajfa-9455	165	45	dol	dol	NOUN
ajfa-9455	165	46	-	-	PUNCT
ajfa-9455	165	47	0.739	0.739	NUM
ajfa-9455	165	48	*	*	NOUN
ajfa-9455	165	49	*	*	PUNCT
ajfa-9455	165	50	(	(	PUNCT
ajfa-9455	165	51	-2.146	-2.146	NOUN
ajfa-9455	165	52	)	)	PUNCT
ajfa-9455	165	53	0.741	0.741	NUM
ajfa-9455	165	54	*	*	SYM
ajfa-9455	165	55	*	*	PUNCT
ajfa-9455	165	56	(	(	PUNCT
ajfa-9455	165	57	-2.133	-2.133	PUNCT
ajfa-9455	165	58	)	)	PUNCT
ajfa-9455	165	59	1.524	1.524	NUM
ajfa-9455	165	60	*	*	PUNCT
ajfa-9455	165	61	*	*	PUNCT
ajfa-9455	165	62	(	(	PUNCT
ajfa-9455	165	63	-2.084	-2.084	NOUN
ajfa-9455	165	64	)	)	PUNCT
ajfa-9455	165	65	dfl	dfl	PROPN
ajfa-9455	165	66	-0.444	-0.444	PRON
ajfa-9455	165	67	(	(	PUNCT
ajfa-9455	165	68	-1.506	-1.506	NOUN
ajfa-9455	165	69	)	)	PUNCT
ajfa-9455	165	70	0.414	0.414	NUM
ajfa-9455	165	71	(	(	PUNCT
ajfa-9455	165	72	-1.391	-1.391	PROPN
ajfa-9455	165	73	)	)	PUNCT
ajfa-9455	165	74	0.010	0.010	NUM
ajfa-9455	165	75	(	(	PUNCT
ajfa-9455	165	76	0.017	0.017	NUM
ajfa-9455	165	77	)	)	PUNCT
ajfa-9455	165	78	ln(sales	ln(sales	PROPN
ajfa-9455	165	79	)	)	PUNCT
ajfa-9455	166	1	+	+	CCONJ
ajfa-9455	166	2	0.052	0.052	NUM
ajfa-9455	166	3	(	(	PUNCT
ajfa-9455	166	4	1.639	1.639	NUM
ajfa-9455	166	5	)	)	PUNCT
ajfa-9455	166	6	roa	roa	NOUN
ajfa-9455	166	7	-	-	PUNCT
ajfa-9455	166	8	0.043	0.043	NUM
ajfa-9455	166	9	(	(	PUNCT
ajfa-9455	166	10	-0.081	-0.081	NOUN
ajfa-9455	166	11	)	)	PUNCT
ajfa-9455	166	12	r2	r2	PROPN
ajfa-9455	166	13	0.055	0.055	NUM
ajfa-9455	166	14	0.066	0.066	NUM
ajfa-9455	166	15	0.070	0.070	NUM
ajfa-9455	166	16	f	f	X
ajfa-9455	166	17	-	-	PUNCT
ajfa-9455	166	18	statistic	statistic	VERB
ajfa-9455	166	19	6.582	6.582	NUM
ajfa-9455	166	20	3.973	3.973	NUM
ajfa-9455	166	21	2.773	2.773	NUM
ajfa-9455	166	22	prob(f	prob(f	NOUN
ajfa-9455	166	23	-	-	PUNCT
ajfa-9455	166	24	statistic	statistic	NOUN
ajfa-9455	166	25	)	)	PUNCT
ajfa-9455	166	26	0.002	0.002	NUM
ajfa-9455	166	27	0.004	0.004	NUM
ajfa-9455	166	28	0.069	0.069	NUM
ajfa-9455	166	29	sample	sample	NOUN
ajfa-9455	166	30	firms	firm	NOUN
ajfa-9455	166	31	231	231	NUM
ajfa-9455	166	32	231	231	NUM
ajfa-9455	166	33	231	231	NUM
ajfa-9455	166	34	*	*	NOUN
ajfa-9455	166	35	significance	significance	NOUN
ajfa-9455	166	36	levels	level	NOUN
ajfa-9455	166	37	at	at	ADP
ajfa-9455	166	38	the	the	DET
ajfa-9455	166	39	01	01	NUM
ajfa-9455	166	40	percent	percent	NOUN
ajfa-9455	166	41	;	;	PUNCT
ajfa-9455	166	42	*	*	PUNCT
ajfa-9455	166	43	*	*	PUNCT
ajfa-9455	166	44	significance	significance	NOUN
ajfa-9455	166	45	levels	level	NOUN
ajfa-9455	166	46	at	at	ADP
ajfa-9455	166	47	the	the	DET
ajfa-9455	166	48	05	05	NUM
ajfa-9455	166	49	per	per	ADP
ajfa-9455	166	50	cent	cent	NOUN
ajfa-9455	166	51	,	,	PUNCT
ajfa-9455	166	52	*	*	PUNCT
ajfa-9455	166	53	*	*	PUNCT
ajfa-9455	166	54	*	*	NOUN
ajfa-9455	166	55	significance	significance	NOUN
ajfa-9455	166	56	levels	level	NOUN
ajfa-9455	166	57	at	at	ADP
ajfa-9455	166	58	the	the	DET
ajfa-9455	166	59	10	10	NUM
ajfa-9455	166	60	per	per	ADP
ajfa-9455	166	61	cent	cent	NOUN
ajfa-9455	166	62	.	.	PUNCT
ajfa-9455	167	1	figures	figure	NOUN
ajfa-9455	167	2	in	in	ADP
ajfa-9455	167	3	parentheses	parenthesis	NOUN
ajfa-9455	167	4	are	be	AUX
ajfa-9455	167	5	t	t	NOUN
ajfa-9455	167	6	-	-	PUNCT
ajfa-9455	167	7	values	value	NOUN
ajfa-9455	167	8	.	.	PUNCT
ajfa-9455	168	1	asian	asian	ADJ
ajfa-9455	168	2	journal	journal	PROPN
ajfa-9455	168	3	of	of	ADP
ajfa-9455	168	4	finance	finance	PROPN
ajfa-9455	168	5	&	&	CCONJ
ajfa-9455	168	6	accounting	accounting	PROPN
ajfa-9455	168	7	issn	issn	PROPN
ajfa-9455	168	8	1946	1946	NUM
ajfa-9455	168	9	-	-	PUNCT
ajfa-9455	168	10	052x	052x	PROPN
ajfa-9455	168	11	2016	2016	NUM
ajfa-9455	168	12	,	,	PUNCT
ajfa-9455	168	13	vol	vol	NOUN
ajfa-9455	168	14	.	.	PROPN
ajfa-9455	168	15	8	8	NUM
ajfa-9455	168	16	,	,	PUNCT
ajfa-9455	168	17	no	no	INTJ
ajfa-9455	168	18	.	.	NOUN
ajfa-9455	168	19	1	1	NUM
ajfa-9455	168	20	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-9455	168	21	223	223	NUM
ajfa-9455	168	22	5	5	NUM
ajfa-9455	168	23	.	.	PUNCT
ajfa-9455	168	24	conclusion	conclusion	VERB
ajfa-9455	168	25	the	the	DET
ajfa-9455	168	26	empirical	empirical	ADJ
ajfa-9455	168	27	results	result	NOUN
ajfa-9455	168	28	and	and	CCONJ
ajfa-9455	168	29	discussion	discussion	NOUN
ajfa-9455	168	30	of	of	ADP
ajfa-9455	168	31	this	this	DET
ajfa-9455	168	32	study	study	NOUN
ajfa-9455	168	33	partially	partially	ADV
ajfa-9455	168	34	support	support	VERB
ajfa-9455	168	35	the	the	DET
ajfa-9455	168	36	hypothesis	hypothesis	NOUN
ajfa-9455	168	37	that	that	PRON
ajfa-9455	168	38	dol	dol	NOUN
ajfa-9455	168	39	and	and	CCONJ
ajfa-9455	168	40	dfl	dfl	PROPN
ajfa-9455	168	41	do	do	AUX
ajfa-9455	168	42	impact	impact	VERB
ajfa-9455	168	43	the	the	DET
ajfa-9455	168	44	firm	firm	ADJ
ajfa-9455	168	45	value	value	NOUN
ajfa-9455	168	46	.	.	PUNCT
ajfa-9455	169	1	dol	dol	NOUN
ajfa-9455	169	2	does	do	AUX
ajfa-9455	169	3	significantly	significantly	ADV
ajfa-9455	169	4	adversely	adversely	ADV
ajfa-9455	169	5	affects	affect	VERB
ajfa-9455	169	6	the	the	DET
ajfa-9455	169	7	firm	firm	ADJ
ajfa-9455	169	8	value	value	NOUN
ajfa-9455	169	9	over	over	ADP
ajfa-9455	169	10	long	long	ADJ
ajfa-9455	169	11	windows	window	NOUN
ajfa-9455	169	12	;	;	PUNCT
ajfa-9455	169	13	however	however	ADV
ajfa-9455	169	14	dfl	dfl	PROPN
ajfa-9455	169	15	and	and	CCONJ
ajfa-9455	169	16	firm	firm	ADJ
ajfa-9455	169	17	value	value	NOUN
ajfa-9455	169	18	are	be	AUX
ajfa-9455	169	19	not	not	PART
ajfa-9455	169	20	associated	associate	VERB
ajfa-9455	169	21	.	.	PUNCT
ajfa-9455	170	1	interestingly	interestingly	ADV
ajfa-9455	170	2	,	,	PUNCT
ajfa-9455	170	3	both	both	CCONJ
ajfa-9455	170	4	dol	dol	NOUN
ajfa-9455	170	5	and	and	CCONJ
ajfa-9455	170	6	dfl	dfl	PROPN
ajfa-9455	170	7	are	be	AUX
ajfa-9455	170	8	significantly	significantly	ADV
ajfa-9455	170	9	negatively	negatively	ADV
ajfa-9455	170	10	correlated	correlate	VERB
ajfa-9455	170	11	with	with	ADP
ajfa-9455	170	12	the	the	DET
ajfa-9455	170	13	firm	firm	ADJ
ajfa-9455	170	14	value	value	NOUN
ajfa-9455	170	15	(	(	PUNCT
ajfa-9455	170	16	see	see	VERB
ajfa-9455	170	17	table	table	NOUN
ajfa-9455	170	18	2	2	NUM
ajfa-9455	170	19	)	)	PUNCT
ajfa-9455	170	20	.	.	PUNCT
ajfa-9455	171	1	moreover	moreover	ADV
ajfa-9455	171	2	,	,	PUNCT
ajfa-9455	171	3	controlling	control	VERB
ajfa-9455	171	4	for	for	ADP
ajfa-9455	171	5	firm	firm	ADJ
ajfa-9455	171	6	size	size	NOUN
ajfa-9455	171	7	and	and	CCONJ
ajfa-9455	171	8	roa	roa	PROPN
ajfa-9455	171	9	does	do	AUX
ajfa-9455	171	10	not	not	PART
ajfa-9455	171	11	affect	affect	VERB
ajfa-9455	171	12	the	the	DET
ajfa-9455	171	13	results	result	NOUN
ajfa-9455	171	14	of	of	ADP
ajfa-9455	171	15	the	the	DET
ajfa-9455	171	16	study	study	NOUN
ajfa-9455	171	17	and	and	CCONJ
ajfa-9455	171	18	both	both	DET
ajfa-9455	171	19	control	control	NOUN
ajfa-9455	171	20	variables	variable	NOUN
ajfa-9455	171	21	do	do	AUX
ajfa-9455	171	22	not	not	PART
ajfa-9455	171	23	explain	explain	VERB
ajfa-9455	171	24	the	the	DET
ajfa-9455	171	25	firm	firm	ADJ
ajfa-9455	171	26	value	value	NOUN
ajfa-9455	171	27	.	.	PUNCT
ajfa-9455	172	1	our	our	PRON
ajfa-9455	172	2	findings	finding	NOUN
ajfa-9455	172	3	remain	remain	VERB
ajfa-9455	172	4	intact	intact	ADJ
ajfa-9455	172	5	even	even	ADV
ajfa-9455	172	6	after	after	SCONJ
ajfa-9455	172	7	a	a	DET
ajfa-9455	172	8	well	well	ADV
ajfa-9455	172	9	established	establish	VERB
ajfa-9455	172	10	portfolio	portfolio	NOUN
ajfa-9455	172	11	-	-	PUNCT
ajfa-9455	172	12	grouping	group	VERB
ajfa-9455	172	13	approach	approach	NOUN
ajfa-9455	172	14	is	be	AUX
ajfa-9455	172	15	used	use	VERB
ajfa-9455	172	16	to	to	PART
ajfa-9455	172	17	find	find	VERB
ajfa-9455	172	18	the	the	DET
ajfa-9455	172	19	empirical	empirical	ADJ
ajfa-9455	172	20	results	result	NOUN
ajfa-9455	172	21	of	of	ADP
ajfa-9455	172	22	the	the	DET
ajfa-9455	172	23	study	study	NOUN
ajfa-9455	172	24	.	.	PUNCT
ajfa-9455	173	1	thus	thus	ADV
ajfa-9455	173	2	,	,	PUNCT
ajfa-9455	173	3	investors	investor	NOUN
ajfa-9455	173	4	consider	consider	VERB
ajfa-9455	173	5	dol	dol	VERB
ajfa-9455	173	6	an	an	DET
ajfa-9455	173	7	important	important	ADJ
ajfa-9455	173	8	accounting	accounting	NOUN
ajfa-9455	173	9	number	number	NOUN
ajfa-9455	173	10	in	in	ADP
ajfa-9455	173	11	valuing	value	VERB
ajfa-9455	173	12	the	the	DET
ajfa-9455	173	13	firms	firm	NOUN
ajfa-9455	173	14	at	at	ADP
ajfa-9455	173	15	marketplace	marketplace	NOUN
ajfa-9455	173	16	.	.	PUNCT
ajfa-9455	174	1	our	our	PRON
ajfa-9455	174	2	empirical	empirical	ADJ
ajfa-9455	174	3	results	result	NOUN
ajfa-9455	174	4	also	also	ADV
ajfa-9455	174	5	indicate	indicate	VERB
ajfa-9455	174	6	that	that	DET
ajfa-9455	174	7	firm	firm	ADJ
ajfa-9455	174	8	value	value	NOUN
ajfa-9455	174	9	is	be	AUX
ajfa-9455	174	10	independent	independent	ADJ
ajfa-9455	174	11	of	of	ADP
ajfa-9455	174	12	its	its	PRON
ajfa-9455	174	13	capital	capital	NOUN
ajfa-9455	174	14	structure	structure	NOUN
ajfa-9455	174	15	(	(	PUNCT
ajfa-9455	174	16	portion	portion	NOUN
ajfa-9455	174	17	of	of	ADP
ajfa-9455	174	18	total	total	ADJ
ajfa-9455	174	19	debt	debt	NOUN
ajfa-9455	174	20	in	in	ADP
ajfa-9455	174	21	total	total	ADJ
ajfa-9455	174	22	assets	asset	NOUN
ajfa-9455	174	23	)	)	PUNCT
ajfa-9455	174	24	as	as	SCONJ
ajfa-9455	174	25	dfl	dfl	PROPN
ajfa-9455	174	26	does	do	AUX
ajfa-9455	174	27	not	not	PART
ajfa-9455	174	28	impact	impact	VERB
ajfa-9455	174	29	firm	firm	ADJ
ajfa-9455	174	30	value	value	NOUN
ajfa-9455	174	31	.	.	PUNCT
ajfa-9455	175	1	no	no	DET
ajfa-9455	175	2	significant	significant	ADJ
ajfa-9455	175	3	difference	difference	NOUN
ajfa-9455	175	4	in	in	ADP
ajfa-9455	175	5	pe	pe	PROPN
ajfa-9455	175	6	ratio	ratio	NOUN
ajfa-9455	175	7	,	,	PUNCT
ajfa-9455	175	8	proxy	proxy	NOUN
ajfa-9455	175	9	of	of	ADP
ajfa-9455	175	10	firm	firm	ADJ
ajfa-9455	175	11	value	value	NOUN
ajfa-9455	175	12	,	,	PUNCT
ajfa-9455	175	13	of	of	ADP
ajfa-9455	175	14	231	231	NUM
ajfa-9455	175	15	sample	sample	NOUN
ajfa-9455	175	16	firms	firm	NOUN
ajfa-9455	175	17	distributed	distribute	VERB
ajfa-9455	175	18	over	over	ADP
ajfa-9455	175	19	nine	nine	NUM
ajfa-9455	175	20	industries	industry	NOUN
ajfa-9455	175	21	is	be	AUX
ajfa-9455	175	22	found	find	VERB
ajfa-9455	175	23	though	though	SCONJ
ajfa-9455	175	24	they	they	PRON
ajfa-9455	175	25	are	be	AUX
ajfa-9455	175	26	significantly	significantly	ADV
ajfa-9455	175	27	different	different	ADJ
ajfa-9455	175	28	in	in	ADP
ajfa-9455	175	29	terms	term	NOUN
ajfa-9455	175	30	of	of	ADP
ajfa-9455	175	31	size	size	NOUN
ajfa-9455	175	32	(	(	PUNCT
ajfa-9455	175	33	annual	annual	ADJ
ajfa-9455	175	34	sales	sale	NOUN
ajfa-9455	175	35	)	)	PUNCT
ajfa-9455	175	36	,	,	PUNCT
ajfa-9455	175	37	profitability	profitability	NOUN
ajfa-9455	175	38	(	(	PUNCT
ajfa-9455	175	39	roa	roa	NOUN
ajfa-9455	175	40	)	)	PUNCT
ajfa-9455	175	41	and	and	CCONJ
ajfa-9455	175	42	degree	degree	NOUN
ajfa-9455	175	43	of	of	ADP
ajfa-9455	175	44	leverages	leverage	NOUN
ajfa-9455	175	45	(	(	PUNCT
ajfa-9455	175	46	see	see	VERB
ajfa-9455	175	47	table	table	NOUN
ajfa-9455	175	48	1	1	NUM
ajfa-9455	175	49	)	)	PUNCT
ajfa-9455	175	50	.	.	PUNCT
ajfa-9455	176	1	this	this	DET
ajfa-9455	176	2	study	study	NOUN
ajfa-9455	176	3	is	be	AUX
ajfa-9455	176	4	an	an	DET
ajfa-9455	176	5	addition	addition	NOUN
ajfa-9455	176	6	to	to	ADP
ajfa-9455	176	7	the	the	DET
ajfa-9455	176	8	literature	literature	NOUN
ajfa-9455	176	9	of	of	ADP
ajfa-9455	176	10	capital	capital	NOUN
ajfa-9455	176	11	market	market	NOUN
ajfa-9455	176	12	-	-	PUNCT
ajfa-9455	176	13	based	base	VERB
ajfa-9455	176	14	accounting	accounting	NOUN
ajfa-9455	176	15	research	research	NOUN
ajfa-9455	176	16	(	(	PUNCT
ajfa-9455	176	17	cmbar	cmbar	NOUN
ajfa-9455	176	18	)	)	PUNCT
ajfa-9455	176	19	which	which	PRON
ajfa-9455	176	20	studies	study	VERB
ajfa-9455	176	21	the	the	DET
ajfa-9455	176	22	association	association	NOUN
ajfa-9455	176	23	between	between	ADP
ajfa-9455	176	24	stock	stock	NOUN
ajfa-9455	176	25	price	price	NOUN
ajfa-9455	176	26	-	-	PUNCT
ajfa-9455	176	27	based	base	VERB
ajfa-9455	176	28	dependent	dependent	ADJ
ajfa-9455	176	29	variable	variable	NOUN
ajfa-9455	176	30	and	and	CCONJ
ajfa-9455	176	31	accounting	accounting	NOUN
ajfa-9455	176	32	variables	variable	NOUN
ajfa-9455	176	33	in	in	ADP
ajfa-9455	176	34	indian	indian	ADJ
ajfa-9455	176	35	context	context	NOUN
ajfa-9455	176	36	.	.	PUNCT
ajfa-9455	177	1	the	the	DET
ajfa-9455	177	2	association	association	NOUN
ajfa-9455	177	3	between	between	ADP
ajfa-9455	177	4	degree	degree	NOUN
ajfa-9455	177	5	of	of	ADP
ajfa-9455	177	6	leverages	leverage	NOUN
ajfa-9455	177	7	and	and	CCONJ
ajfa-9455	177	8	stock	stock	NOUN
ajfa-9455	177	9	risk	risk	NOUN
ajfa-9455	177	10	and	and	CCONJ
ajfa-9455	177	11	returns	return	NOUN
ajfa-9455	177	12	could	could	AUX
ajfa-9455	177	13	be	be	AUX
ajfa-9455	177	14	explored	explore	VERB
ajfa-9455	177	15	in	in	ADP
ajfa-9455	177	16	the	the	DET
ajfa-9455	177	17	context	context	NOUN
ajfa-9455	177	18	of	of	ADP
ajfa-9455	177	19	emerging	emerge	VERB
ajfa-9455	177	20	or	or	CCONJ
ajfa-9455	177	21	developing	develop	VERB
ajfa-9455	177	22	markets	market	NOUN
ajfa-9455	177	23	.	.	PUNCT
ajfa-9455	178	1	besides	besides	SCONJ
ajfa-9455	178	2	,	,	PUNCT
ajfa-9455	178	3	the	the	DET
ajfa-9455	178	4	same	same	ADJ
ajfa-9455	178	5	study	study	NOUN
ajfa-9455	178	6	could	could	AUX
ajfa-9455	178	7	be	be	AUX
ajfa-9455	178	8	revisited	revisit	VERB
ajfa-9455	178	9	in	in	ADP
ajfa-9455	178	10	the	the	DET
ajfa-9455	178	11	context	context	NOUN
ajfa-9455	178	12	of	of	ADP
ajfa-9455	178	13	under	under	ADV
ajfa-9455	178	14	-	-	PUNCT
ajfa-9455	178	15	developed	develop	VERB
ajfa-9455	178	16	markets	market	NOUN
ajfa-9455	178	17	to	to	PART
ajfa-9455	178	18	reexamine	reexamine	VERB
ajfa-9455	178	19	the	the	DET
ajfa-9455	178	20	reliability	reliability	NOUN
ajfa-9455	178	21	in	in	ADP
ajfa-9455	178	22	the	the	DET
ajfa-9455	178	23	findings	finding	NOUN
ajfa-9455	178	24	of	of	ADP
ajfa-9455	178	25	this	this	DET
ajfa-9455	178	26	study	study	NOUN
ajfa-9455	178	27	.	.	PUNCT
ajfa-9455	179	1	end	end	NOUN
ajfa-9455	179	2	notes	note	NOUN
ajfa-9455	180	1	[	[	X
ajfa-9455	180	2	1	1	X
ajfa-9455	180	3	]	]	PUNCT
ajfa-9455	180	4	logarithm	logarithm	NOUN
ajfa-9455	180	5	transformation	transformation	NOUN
ajfa-9455	180	6	for	for	ADP
ajfa-9455	180	7	symmetrical	symmetrical	ADJ
ajfa-9455	180	8	and	and	CCONJ
ajfa-9455	180	9	normal	normal	ADJ
ajfa-9455	180	10	distribution	distribution	NOUN
ajfa-9455	180	11	of	of	ADP
ajfa-9455	180	12	data	datum	NOUN
ajfa-9455	180	13	.	.	PUNCT
ajfa-9455	181	1	[	[	X
ajfa-9455	181	2	2	2	X
ajfa-9455	181	3	]	]	PUNCT
ajfa-9455	181	4	the	the	DET
ajfa-9455	181	5	market	market	NOUN
ajfa-9455	181	6	model	model	NOUN
ajfa-9455	181	7	approach	approach	NOUN
ajfa-9455	181	8	(	(	PUNCT
ajfa-9455	181	9	mandelkar	mandelkar	NOUN
ajfa-9455	181	10	and	and	CCONJ
ajfa-9455	181	11	rhee	rhee	PROPN
ajfa-9455	181	12	,	,	PUNCT
ajfa-9455	181	13	1984	1984	NUM
ajfa-9455	181	14	)	)	PUNCT
ajfa-9455	181	15	is	be	AUX
ajfa-9455	181	16	used	use	VERB
ajfa-9455	181	17	to	to	PART
ajfa-9455	181	18	estimate	estimate	VERB
ajfa-9455	181	19	the	the	DET
ajfa-9455	181	20	beta	beta	ADJ
ajfa-9455	181	21	values	value	NOUN
ajfa-9455	181	22	of	of	ADP
ajfa-9455	181	23	each	each	DET
ajfa-9455	181	24	firm	firm	NOUN
ajfa-9455	181	25	's	's	PART
ajfa-9455	181	26	common	common	ADJ
ajfa-9455	181	27	stock	stock	NOUN
ajfa-9455	181	28	with	with	ADP
ajfa-9455	181	29	10	10	NUM
ajfa-9455	181	30	years	year	NOUN
ajfa-9455	181	31	of	of	ADP
ajfa-9455	181	32	monthly	monthly	ADJ
ajfa-9455	181	33	data	datum	NOUN
ajfa-9455	181	34	.	.	PUNCT
ajfa-9455	182	1	rit	rit	PROPN
ajfa-9455	182	2	=	=	PUNCT
ajfa-9455	182	3	αi	αi	NOUN
ajfa-9455	183	1	+	+	CCONJ
ajfa-9455	183	2	βi	βi	PRON
ajfa-9455	183	3	rmt	rmt	NOUN
ajfa-9455	183	4	+	+	CCONJ
ajfa-9455	183	5	uit	uit	NOUN
ajfa-9455	183	6	i	i	X
ajfa-9455	183	7	=	=	NOUN
ajfa-9455	183	8	1	1	NUM
ajfa-9455	183	9	-	-	SYM
ajfa-9455	183	10	231	231	NUM
ajfa-9455	183	11	,	,	PUNCT
ajfa-9455	183	12	t=1	t=1	NOUN
ajfa-9455	183	13	-	-	PUNCT
ajfa-9455	183	14	120	120	NUM
ajfa-9455	183	15	where	where	SCONJ
ajfa-9455	183	16	,	,	PUNCT
ajfa-9455	183	17	ri	ri	PROPN
ajfa-9455	183	18	and	and	CCONJ
ajfa-9455	183	19	rm	rm	PROPN
ajfa-9455	183	20	=	=	PUNCT
ajfa-9455	184	1	the	the	DET
ajfa-9455	184	2	monthly	monthly	ADJ
ajfa-9455	184	3	rates	rate	NOUN
ajfa-9455	184	4	of	of	ADP
ajfa-9455	184	5	return	return	NOUN
ajfa-9455	184	6	in	in	ADP
ajfa-9455	184	7	month	month	NOUN
ajfa-9455	184	8	t	t	NOUN
ajfa-9455	184	9	on	on	ADP
ajfa-9455	184	10	a	a	DET
ajfa-9455	184	11	common	common	ADJ
ajfa-9455	184	12	stock	stock	NOUN
ajfa-9455	184	13	and	and	CCONJ
ajfa-9455	184	14	an	an	DET
ajfa-9455	184	15	market	market	NOUN
ajfa-9455	184	16	index	index	NOUN
ajfa-9455	184	17	(	(	PUNCT
ajfa-9455	184	18	nse	nse	NOUN
ajfa-9455	184	19	nifty	nifty	NOUN
ajfa-9455	184	20	50	50	NUM
ajfa-9455	184	21	)	)	PUNCT
ajfa-9455	184	22	;	;	PUNCT
ajfa-9455	184	23	αi	αi	VERB
ajfa-9455	184	24	,	,	PUNCT
ajfa-9455	184	25	βi	βi	PROPN
ajfa-9455	184	26	=	=	PUNCT
ajfa-9455	184	27	the	the	DET
ajfa-9455	184	28	intercept	intercept	NOUN
ajfa-9455	184	29	and	and	CCONJ
ajfa-9455	184	30	slope	slope	NOUN
ajfa-9455	184	31	coefficient	coefficient	NOUN
ajfa-9455	184	32	representing	represent	VERB
ajfa-9455	184	33	the	the	DET
ajfa-9455	184	34	beta	beta	ADJ
ajfa-9455	184	35	values	value	NOUN
ajfa-9455	184	36	,	,	PUNCT
ajfa-9455	184	37	respectively	respectively	ADV
ajfa-9455	184	38	.	.	PUNCT
ajfa-9455	185	1	[	[	X
ajfa-9455	185	2	3	3	X
ajfa-9455	185	3	]	]	PUNCT
ajfa-9455	185	4	note	note	NOUN
ajfa-9455	185	5	that	that	SCONJ
ajfa-9455	185	6	garcia	garcia	PROPN
ajfa-9455	185	7	and	and	CCONJ
ajfa-9455	185	8	jorgensen	jorgensen	PROPN
ajfa-9455	185	9	(	(	PUNCT
ajfa-9455	185	10	2010	2010	NUM
ajfa-9455	185	11	)	)	PUNCT
ajfa-9455	185	12	use	use	VERB
ajfa-9455	185	13	the	the	DET
ajfa-9455	185	14	five	five	NUM
ajfa-9455	185	15	-	-	PUNCT
ajfa-9455	185	16	year	year	NOUN
ajfa-9455	185	17	average	average	ADJ
ajfa-9455	185	18	ratio	ratio	NOUN
ajfa-9455	185	19	of	of	ADP
ajfa-9455	185	20	fixed	fix	VERB
ajfa-9455	185	21	assets	asset	NOUN
ajfa-9455	185	22	to	to	PART
ajfa-9455	185	23	total	total	ADJ
ajfa-9455	185	24	assets	asset	NOUN
ajfa-9455	185	25	is	be	AUX
ajfa-9455	185	26	used	use	VERB
ajfa-9455	185	27	to	to	PART
ajfa-9455	185	28	estimate	estimate	VERB
ajfa-9455	185	29	the	the	DET
ajfa-9455	185	30	book	book	NOUN
ajfa-9455	185	31	dol	dol	NOUN
ajfa-9455	185	32	,	,	PUNCT
ajfa-9455	185	33	and	and	CCONJ
ajfa-9455	185	34	the	the	DET
ajfa-9455	185	35	book	book	NOUN
ajfa-9455	185	36	dfl	dfl	PROPN
ajfa-9455	185	37	is	be	AUX
ajfa-9455	185	38	the	the	DET
ajfa-9455	185	39	five	five	NUM
ajfa-9455	185	40	-	-	PUNCT
ajfa-9455	185	41	year	year	NOUN
ajfa-9455	185	42	average	average	ADJ
ajfa-9455	185	43	ratio	ratio	NOUN
ajfa-9455	185	44	of	of	ADP
ajfa-9455	185	45	total	total	ADJ
ajfa-9455	185	46	debt	debt	NOUN
ajfa-9455	185	47	divided	divide	VERB
ajfa-9455	185	48	by	by	ADP
ajfa-9455	185	49	total	total	ADJ
ajfa-9455	185	50	assets	asset	NOUN
ajfa-9455	185	51	.	.	PUNCT
ajfa-9455	186	1	mandelker	mandelker	NOUN
ajfa-9455	186	2	and	and	CCONJ
ajfa-9455	186	3	rhee	rhee	PROPN
ajfa-9455	186	4	(	(	PUNCT
ajfa-9455	186	5	1984	1984	NUM
ajfa-9455	186	6	)	)	PUNCT
ajfa-9455	186	7	use	use	VERB
ajfa-9455	186	8	these	these	DET
ajfa-9455	186	9	two	two	NUM
ajfa-9455	186	10	ratios	ratio	NOUN
ajfa-9455	186	11	,	,	PUNCT
ajfa-9455	186	12	ratio	ratio	NOUN
ajfa-9455	186	13	of	of	ADP
ajfa-9455	186	14	fixed	fix	VERB
ajfa-9455	186	15	assets	asset	NOUN
ajfa-9455	186	16	to	to	PART
ajfa-9455	186	17	total	total	VERB
ajfa-9455	186	18	assets	asset	NOUN
ajfa-9455	186	19	and	and	CCONJ
ajfa-9455	186	20	ratio	ratio	NOUN
ajfa-9455	186	21	of	of	ADP
ajfa-9455	186	22	total	total	ADJ
ajfa-9455	186	23	debt	debt	NOUN
ajfa-9455	186	24	to	to	ADP
ajfa-9455	186	25	total	total	ADJ
ajfa-9455	186	26	assets	asset	NOUN
ajfa-9455	186	27	,	,	PUNCT
ajfa-9455	186	28	as	as	ADP
ajfa-9455	186	29	the	the	DET
ajfa-9455	186	30	instrumental	instrumental	ADJ
ajfa-9455	186	31	variables	variable	NOUN
ajfa-9455	186	32	for	for	ADP
ajfa-9455	186	33	dol	dol	NOUN
ajfa-9455	186	34	and	and	CCONJ
ajfa-9455	186	35	dfl	dfl	PROPN
ajfa-9455	186	36	,	,	PUNCT
ajfa-9455	186	37	respectively	respectively	ADV
ajfa-9455	186	38	.	.	PUNCT
ajfa-9455	187	1	[	[	X
ajfa-9455	187	2	4	4	X
ajfa-9455	187	3	]	]	PUNCT
ajfa-9455	187	4	note	note	NOUN
ajfa-9455	187	5	that	that	SCONJ
ajfa-9455	187	6	huffman	huffman	PROPN
ajfa-9455	187	7	(	(	PUNCT
ajfa-9455	187	8	1989	1989	NUM
ajfa-9455	187	9	)	)	PUNCT
ajfa-9455	187	10	and	and	CCONJ
ajfa-9455	187	11	mandelkar	mandelkar	NOUN
ajfa-9455	187	12	and	and	CCONJ
ajfa-9455	187	13	rhee	rhee	PROPN
ajfa-9455	187	14	(	(	PUNCT
ajfa-9455	187	15	1984	1984	NUM
ajfa-9455	187	16	)	)	PUNCT
ajfa-9455	187	17	were	be	AUX
ajfa-9455	187	18	used	use	VERB
ajfa-9455	187	19	portfolio	portfolio	NOUN
ajfa-9455	187	20	of	of	ADP
ajfa-9455	187	21	four	four	NUM
ajfa-9455	187	22	stocks	stock	NOUN
ajfa-9455	187	23	and	and	CCONJ
ajfa-9455	187	24	five	five	NUM
ajfa-9455	187	25	stocks	stock	NOUN
ajfa-9455	187	26	,	,	PUNCT
ajfa-9455	187	27	respectively	respectively	ADV
ajfa-9455	187	28	.	.	PUNCT
ajfa-9455	188	1	[	[	X
ajfa-9455	188	2	5	5	NUM
ajfa-9455	188	3	]	]	PUNCT
ajfa-9455	188	4	based	base	VERB
ajfa-9455	188	5	upon	upon	SCONJ
ajfa-9455	188	6	the	the	DET
ajfa-9455	188	7	values	value	NOUN
ajfa-9455	188	8	of	of	ADP
ajfa-9455	188	9	variation	variation	NOUN
ajfa-9455	188	10	inflation	inflation	NOUN
ajfa-9455	188	11	factor	factor	NOUN
ajfa-9455	188	12	(	(	PUNCT
ajfa-9455	188	13	vif	vif	NOUN
ajfa-9455	188	14	)	)	PUNCT
ajfa-9455	188	15	in	in	ADP
ajfa-9455	188	16	each	each	DET
ajfa-9455	188	17	model	model	NOUN
ajfa-9455	188	18	.	.	PUNCT
ajfa-9455	189	1	asian	asian	ADJ
ajfa-9455	189	2	journal	journal	PROPN
ajfa-9455	189	3	of	of	ADP
ajfa-9455	189	4	finance	finance	PROPN
ajfa-9455	189	5	&	&	CCONJ
ajfa-9455	189	6	accounting	accounting	PROPN
ajfa-9455	189	7	issn	issn	PROPN
ajfa-9455	189	8	1946	1946	NUM
ajfa-9455	189	9	-	-	PUNCT
ajfa-9455	189	10	052x	052x	PROPN
ajfa-9455	189	11	2016	2016	NUM
ajfa-9455	189	12	,	,	PUNCT
ajfa-9455	189	13	vol	vol	NOUN
ajfa-9455	189	14	.	.	PROPN
ajfa-9455	189	15	8	8	NUM
ajfa-9455	189	16	,	,	PUNCT
ajfa-9455	189	17	no	no	INTJ
ajfa-9455	189	18	.	.	NOUN
ajfa-9455	189	19	1	1	NUM
ajfa-9455	189	20	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-9455	189	21	224	224	NUM
ajfa-9455	189	22	references	reference	NOUN
ajfa-9455	189	23	alford	alford	PROPN
ajfa-9455	189	24	,	,	PUNCT
ajfa-9455	189	25	a.	a.	PROPN
ajfa-9455	189	26	w.	w.	PROPN
ajfa-9455	189	27	(	(	PUNCT
ajfa-9455	189	28	1992	1992	NUM
ajfa-9455	189	29	)	)	PUNCT
ajfa-9455	189	30	.	.	PUNCT
ajfa-9455	190	1	the	the	DET
ajfa-9455	190	2	effect	effect	NOUN
ajfa-9455	190	3	of	of	ADP
ajfa-9455	190	4	the	the	DET
ajfa-9455	190	5	set	set	NOUN
ajfa-9455	190	6	of	of	ADP
ajfa-9455	190	7	comparable	comparable	ADJ
ajfa-9455	190	8	firms	firm	NOUN
ajfa-9455	190	9	on	on	ADP
ajfa-9455	190	10	the	the	DET
ajfa-9455	190	11	accuracy	accuracy	NOUN
ajfa-9455	190	12	of	of	ADP
ajfa-9455	190	13	price	price	NOUN
ajfa-9455	190	14	-	-	PUNCT
ajfa-9455	190	15	earnings	earning	NOUN
ajfa-9455	190	16	valuation	valuation	NOUN
ajfa-9455	190	17	method	method	NOUN
ajfa-9455	190	18	.	.	PUNCT
ajfa-9455	191	1	journal	journal	NOUN
ajfa-9455	191	2	of	of	ADP
ajfa-9455	191	3	accounting	accounting	NOUN
ajfa-9455	191	4	research	research	NOUN
ajfa-9455	191	5	,	,	PUNCT
ajfa-9455	191	6	30(1	30(1	NUM
ajfa-9455	191	7	)	)	PUNCT
ajfa-9455	191	8	,	,	PUNCT
ajfa-9455	191	9	94	94	NUM
ajfa-9455	191	10	-	-	SYM
ajfa-9455	191	11	108	108	NUM
ajfa-9455	191	12	.	.	PUNCT
ajfa-9455	192	1	http://dx.doi.org/10.2307/2491093	http://dx.doi.org/10.2307/2491093	PROPN
ajfa-9455	192	2	al	al	PROPN
ajfa-9455	192	3	-	-	PUNCT
ajfa-9455	192	4	khazali	khazali	PROPN
ajfa-9455	192	5	,	,	PUNCT
ajfa-9455	192	6	o.	o.	NOUN
ajfa-9455	192	7	m.	m.	NOUN
ajfa-9455	192	8	,	,	PUNCT
ajfa-9455	192	9	&	&	CCONJ
ajfa-9455	192	10	zoubi	zoubi	PROPN
ajfa-9455	192	11	,	,	PUNCT
ajfa-9455	192	12	t.	t.	NOUN
ajfa-9455	192	13	a.	a.	NOUN
ajfa-9455	192	14	(	(	PUNCT
ajfa-9455	192	15	2005	2005	NUM
ajfa-9455	192	16	)	)	PUNCT
ajfa-9455	192	17	.	.	PUNCT
ajfa-9455	193	1	empirical	empirical	ADJ
ajfa-9455	193	2	testing	testing	NOUN
ajfa-9455	193	3	of	of	ADP
ajfa-9455	193	4	different	different	ADJ
ajfa-9455	193	5	alternative	alternative	ADJ
ajfa-9455	193	6	proxy	proxy	NOUN
ajfa-9455	193	7	measures	measure	NOUN
ajfa-9455	193	8	for	for	ADP
ajfa-9455	193	9	firm	firm	ADJ
ajfa-9455	193	10	size	size	NOUN
ajfa-9455	193	11	.	.	PUNCT
ajfa-9455	194	1	the	the	DET
ajfa-9455	194	2	journal	journal	NOUN
ajfa-9455	194	3	of	of	ADP
ajfa-9455	194	4	applied	apply	VERB
ajfa-9455	194	5	business	business	NOUN
ajfa-9455	194	6	research	research	NOUN
ajfa-9455	194	7	,	,	PUNCT
ajfa-9455	194	8	21(3	21(3	NUM
ajfa-9455	194	9	)	)	PUNCT
ajfa-9455	194	10	,	,	PUNCT
ajfa-9455	194	11	79	79	NUM
ajfa-9455	194	12	-	-	SYM
ajfa-9455	194	13	90	90	NUM
ajfa-9455	194	14	.	.	PUNCT
ajfa-9455	195	1	anderson	anderson	PROPN
ajfa-9455	195	2	,	,	PUNCT
ajfa-9455	195	3	k.	k.	PROPN
ajfa-9455	195	4	,	,	PUNCT
ajfa-9455	195	5	&	&	CCONJ
ajfa-9455	195	6	brooks	brooks	PROPN
ajfa-9455	195	7	,	,	PUNCT
ajfa-9455	195	8	c.	c.	PROPN
ajfa-9455	195	9	(	(	PUNCT
ajfa-9455	195	10	2006	2006	NUM
ajfa-9455	195	11	)	)	PUNCT
ajfa-9455	195	12	.	.	PUNCT
ajfa-9455	196	1	decomposing	decompose	VERB
ajfa-9455	196	2	the	the	DET
ajfa-9455	196	3	price	price	NOUN
ajfa-9455	196	4	-	-	PUNCT
ajfa-9455	196	5	earnings	earning	NOUN
ajfa-9455	196	6	ratio	ratio	NOUN
ajfa-9455	196	7	.	.	PUNCT
ajfa-9455	197	1	journal	journal	PROPN
ajfa-9455	197	2	of	of	ADP
ajfa-9455	197	3	asset	asset	NOUN
ajfa-9455	197	4	management	management	NOUN
ajfa-9455	197	5	,	,	PUNCT
ajfa-9455	197	6	6(6	6(6	ADJ
ajfa-9455	197	7	)	)	PUNCT
ajfa-9455	197	8	,	,	PUNCT
ajfa-9455	197	9	456	456	NUM
ajfa-9455	197	10	-	-	SYM
ajfa-9455	197	11	469	469	NUM
ajfa-9455	197	12	.	.	PUNCT
ajfa-9455	198	1	http://dx.doi.org/10.1057/palgrave.jam.2240195	http://dx.doi.org/10.1057/palgrave.jam.2240195	PROPN
ajfa-9455	198	2	ang	ang	PROPN
ajfa-9455	198	3	,	,	PUNCT
ajfa-9455	198	4	j.	j.	PROPN
ajfa-9455	198	5	&	&	CCONJ
ajfa-9455	198	6	peterson	peterson	PROPN
ajfa-9455	198	7	,	,	PUNCT
ajfa-9455	198	8	p.p	p.p	PROPN
ajfa-9455	198	9	.	.	PROPN
ajfa-9455	198	10	(	(	PUNCT
ajfa-9455	198	11	1984	1984	NUM
ajfa-9455	198	12	)	)	PUNCT
ajfa-9455	198	13	.	.	PUNCT
ajfa-9455	199	1	the	the	DET
ajfa-9455	199	2	leasing	leasing	NOUN
ajfa-9455	199	3	puzzle	puzzle	NOUN
ajfa-9455	199	4	.	.	PUNCT
ajfa-9455	200	1	journal	journal	NOUN
ajfa-9455	200	2	of	of	ADP
ajfa-9455	200	3	finance	finance	NOUN
ajfa-9455	200	4	,	,	PUNCT
ajfa-9455	200	5	39(4	39(4	NOUN
ajfa-9455	200	6	)	)	PUNCT
ajfa-9455	200	7	,	,	PUNCT
ajfa-9455	200	8	1055–1065	1055–1065	NUM
ajfa-9455	200	9	.	.	PUNCT
ajfa-9455	201	1	http://dx.doi.org/10.1111/j.1540-6261.1984.tb03892.x	http://dx.doi.org/10.1111/j.1540-6261.1984.tb03892.x	PROPN
ajfa-9455	201	2	azmat	azmat	PROPN
ajfa-9455	201	3	,	,	PUNCT
ajfa-9455	201	4	qurat	qurat	PROPN
ajfa-9455	201	5	-	-	PUNCT
ajfa-9455	201	6	ul	ul	INTJ
ajfa-9455	201	7	-	-	PUNCT
ajfa-9455	201	8	ann	ann	PROPN
ajfa-9455	201	9	.	.	PUNCT
ajfa-9455	201	10	(	(	PUNCT
ajfa-9455	201	11	2014	2014	NUM
ajfa-9455	201	12	)	)	PUNCT
ajfa-9455	201	13	.	.	PUNCT
ajfa-9455	202	1	firm	firm	ADJ
ajfa-9455	202	2	value	value	NOUN
ajfa-9455	202	3	and	and	CCONJ
ajfa-9455	202	4	optimal	optimal	ADJ
ajfa-9455	202	5	cash	cash	NOUN
ajfa-9455	202	6	level	level	NOUN
ajfa-9455	202	7	:	:	PUNCT
ajfa-9455	202	8	evidence	evidence	NOUN
ajfa-9455	202	9	from	from	ADP
ajfa-9455	202	10	pakistan	pakistan	PROPN
ajfa-9455	202	11	.	.	PUNCT
ajfa-9455	203	1	international	international	ADJ
ajfa-9455	203	2	journal	journal	NOUN
ajfa-9455	203	3	of	of	ADP
ajfa-9455	203	4	emerging	emerge	VERB
ajfa-9455	203	5	markets	market	NOUN
ajfa-9455	203	6	,	,	PUNCT
ajfa-9455	203	7	9(4	9(4	NUM
ajfa-9455	203	8	)	)	PUNCT
ajfa-9455	203	9	,	,	PUNCT
ajfa-9455	203	10	488	488	NUM
ajfa-9455	203	11	-	-	SYM
ajfa-9455	203	12	504	504	NUM
ajfa-9455	203	13	.	.	PUNCT
ajfa-9455	204	1	http://dx.doi.org/10.1108/ijoem-11-2011-0104	http://dx.doi.org/10.1108/ijoem-11-2011-0104	PROPN
ajfa-9455	204	2	ball	ball	PROPN
ajfa-9455	204	3	,	,	PUNCT
ajfa-9455	204	4	r.	r.	PROPN
ajfa-9455	204	5	,	,	PUNCT
ajfa-9455	204	6	&	&	CCONJ
ajfa-9455	204	7	brown	brown	PROPN
ajfa-9455	204	8	,	,	PUNCT
ajfa-9455	204	9	p.	p.	NOUN
ajfa-9455	204	10	(	(	PUNCT
ajfa-9455	204	11	1968	1968	NUM
ajfa-9455	204	12	)	)	PUNCT
ajfa-9455	204	13	.	.	PUNCT
ajfa-9455	205	1	an	an	DET
ajfa-9455	205	2	empirical	empirical	ADJ
ajfa-9455	205	3	evaluation	evaluation	NOUN
ajfa-9455	205	4	of	of	ADP
ajfa-9455	205	5	accounting	accounting	NOUN
ajfa-9455	205	6	income	income	NOUN
ajfa-9455	205	7	numbers	number	NOUN
ajfa-9455	205	8	.	.	PUNCT
ajfa-9455	206	1	journal	journal	NOUN
ajfa-9455	206	2	of	of	ADP
ajfa-9455	206	3	accounting	accounting	NOUN
ajfa-9455	206	4	research	research	NOUN
ajfa-9455	206	5	,	,	PUNCT
ajfa-9455	206	6	6(2	6(2	NUM
ajfa-9455	206	7	)	)	PUNCT
ajfa-9455	206	8	,	,	PUNCT
ajfa-9455	206	9	159–178	159–178	NUM
ajfa-9455	206	10	.	.	PUNCT
ajfa-9455	207	1	http://dx.doi.org/10.2307/2490232	http://dx.doi.org/10.2307/2490232	PROPN
ajfa-9455	207	2	barth	barth	PROPN
ajfa-9455	207	3	,	,	PUNCT
ajfa-9455	207	4	m.	m.	PROPN
ajfa-9455	207	5	e.	e.	PROPN
ajfa-9455	207	6	,	,	PUNCT
ajfa-9455	207	7	beaver	beaver	PROPN
ajfa-9455	207	8	,	,	PUNCT
ajfa-9455	207	9	w.	w.	PROPN
ajfa-9455	207	10	h.	h.	PROPN
ajfa-9455	207	11	,	,	PUNCT
ajfa-9455	207	12	&	&	CCONJ
ajfa-9455	207	13	landsman	landsman	PROPN
ajfa-9455	207	14	,	,	PUNCT
ajfa-9455	207	15	w.	w.	PROPN
ajfa-9455	207	16	r.	r.	PROPN
ajfa-9455	207	17	(	(	PUNCT
ajfa-9455	207	18	2001	2001	NUM
ajfa-9455	207	19	)	)	PUNCT
ajfa-9455	207	20	.	.	PUNCT
ajfa-9455	208	1	the	the	DET
ajfa-9455	208	2	relevance	relevance	NOUN
ajfa-9455	208	3	of	of	ADP
ajfa-9455	208	4	the	the	DET
ajfa-9455	208	5	value	value	NOUN
ajfa-9455	208	6	relevance	relevance	NOUN
ajfa-9455	208	7	literature	literature	NOUN
ajfa-9455	208	8	for	for	ADP
ajfa-9455	208	9	financial	financial	ADJ
ajfa-9455	208	10	accounting	accounting	NOUN
ajfa-9455	208	11	standard	standard	PROPN
ajfa-9455	208	12	setting	setting	NOUN
ajfa-9455	208	13	:	:	PUNCT
ajfa-9455	208	14	another	another	DET
ajfa-9455	208	15	view	view	NOUN
ajfa-9455	208	16	.	.	PUNCT
ajfa-9455	209	1	journal	journal	NOUN
ajfa-9455	209	2	of	of	ADP
ajfa-9455	209	3	accounting	accounting	NOUN
ajfa-9455	209	4	and	and	CCONJ
ajfa-9455	209	5	economics	economic	NOUN
ajfa-9455	209	6	,	,	PUNCT
ajfa-9455	209	7	31	31	NUM
ajfa-9455	209	8	,	,	PUNCT
ajfa-9455	209	9	77	77	NUM
ajfa-9455	209	10	-	-	SYM
ajfa-9455	209	11	104	104	NUM
ajfa-9455	209	12	.	.	PUNCT
ajfa-9455	210	1	http://dx.doi.org/10.1016/s0165-4101(01)00019-2	http://dx.doi.org/10.1016/s0165-4101(01)00019-2	NOUN
ajfa-9455	210	2	beaver	beaver	PROPN
ajfa-9455	210	3	,	,	PUNCT
ajfa-9455	210	4	w.	w.	PROPN
ajfa-9455	210	5	,	,	PUNCT
ajfa-9455	210	6	kettler	kettler	PROPN
ajfa-9455	210	7	,	,	PUNCT
ajfa-9455	210	8	p.	p.	PROPN
ajfa-9455	210	9	,	,	PUNCT
ajfa-9455	210	10	&	&	CCONJ
ajfa-9455	210	11	scholes	scholes	PROPN
ajfa-9455	210	12	,	,	PUNCT
ajfa-9455	210	13	m.	m.	NOUN
ajfa-9455	210	14	(	(	PUNCT
ajfa-9455	210	15	1970	1970	NUM
ajfa-9455	210	16	)	)	PUNCT
ajfa-9455	210	17	.	.	PUNCT
ajfa-9455	211	1	the	the	DET
ajfa-9455	211	2	association	association	NOUN
ajfa-9455	211	3	between	between	ADP
ajfa-9455	211	4	market	market	NOUN
ajfa-9455	211	5	-	-	PUNCT
ajfa-9455	211	6	determined	determine	VERB
ajfa-9455	211	7	and	and	CCONJ
ajfa-9455	211	8	accounting	accounting	NOUN
ajfa-9455	211	9	determined	determine	VERB
ajfa-9455	211	10	risk	risk	NOUN
ajfa-9455	211	11	measures	measure	NOUN
ajfa-9455	211	12	.	.	PUNCT
ajfa-9455	212	1	the	the	DET
ajfa-9455	212	2	accounting	accounting	NOUN
ajfa-9455	212	3	review	review	NOUN
ajfa-9455	212	4	,	,	PUNCT
ajfa-9455	212	5	45(4	45(4	NUM
ajfa-9455	212	6	)	)	PUNCT
ajfa-9455	212	7	,	,	PUNCT
ajfa-9455	212	8	654	654	NUM
ajfa-9455	212	9	–	–	PUNCT
ajfa-9455	212	10	682	682	NUM
ajfa-9455	212	11	.	.	PUNCT
ajfa-9455	213	1	beaver	beaver	PROPN
ajfa-9455	213	2	,	,	PUNCT
ajfa-9455	213	3	w.	w.	PROPN
ajfa-9455	213	4	,	,	PUNCT
ajfa-9455	213	5	&	&	CCONJ
ajfa-9455	213	6	morse	morse	PROPN
ajfa-9455	213	7	,	,	PUNCT
ajfa-9455	213	8	d.	d.	PROPN
ajfa-9455	213	9	(	(	PUNCT
ajfa-9455	213	10	1978	1978	NUM
ajfa-9455	213	11	)	)	PUNCT
ajfa-9455	213	12	.	.	PUNCT
ajfa-9455	214	1	what	what	PRON
ajfa-9455	214	2	determines	determine	VERB
ajfa-9455	214	3	price	price	NOUN
ajfa-9455	214	4	-	-	PUNCT
ajfa-9455	214	5	earnings	earning	NOUN
ajfa-9455	214	6	ratios	ratio	NOUN
ajfa-9455	214	7	.	.	PUNCT
ajfa-9455	215	1	financial	financial	ADJ
ajfa-9455	215	2	analysts	analyst	NOUN
ajfa-9455	215	3	journal	journal	NOUN
ajfa-9455	215	4	,	,	PUNCT
ajfa-9455	215	5	34	34	NUM
ajfa-9455	215	6	(	(	PUNCT
ajfa-9455	215	7	4	4	NUM
ajfa-9455	215	8	)	)	PUNCT
ajfa-9455	215	9	,	,	PUNCT
ajfa-9455	215	10	65	65	NUM
ajfa-9455	215	11	-	-	SYM
ajfa-9455	215	12	76	76	NUM
ajfa-9455	215	13	.	.	PUNCT
ajfa-9455	216	1	http://dx.doi.org/10.2469/faj.v34.n4.65	http://dx.doi.org/10.2469/faj.v34.n4.65	PROPN
ajfa-9455	216	2	beisland	beisland	PROPN
ajfa-9455	216	3	,	,	PUNCT
ajfa-9455	216	4	l.a	l.a	PROPN
ajfa-9455	216	5	.	.	PROPN
ajfa-9455	216	6	(	(	PUNCT
ajfa-9455	216	7	2009	2009	NUM
ajfa-9455	216	8	)	)	PUNCT
ajfa-9455	216	9	.	.	PUNCT
ajfa-9455	217	1	the	the	DET
ajfa-9455	217	2	review	review	NOUN
ajfa-9455	217	3	of	of	ADP
ajfa-9455	217	4	the	the	DET
ajfa-9455	217	5	value	value	NOUN
ajfa-9455	217	6	relevance	relevance	NOUN
ajfa-9455	217	7	literature	literature	NOUN
ajfa-9455	217	8	.	.	PUNCT
ajfa-9455	218	1	the	the	DET
ajfa-9455	218	2	open	open	ADJ
ajfa-9455	218	3	business	business	NOUN
ajfa-9455	218	4	journal	journal	NOUN
ajfa-9455	218	5	,	,	PUNCT
ajfa-9455	218	6	2	2	NUM
ajfa-9455	218	7	,	,	PUNCT
ajfa-9455	218	8	7–27	7–27	PROPN
ajfa-9455	218	9	.	.	PUNCT
ajfa-9455	219	1	http://dx.doi.org/10.2174/1874915100902010007	http://dx.doi.org/10.2174/1874915100902010007	NOUN
ajfa-9455	219	2	bekaert	bekaert	PROPN
ajfa-9455	219	3	,	,	PUNCT
ajfa-9455	219	4	g.	g.	PROPN
ajfa-9455	219	5	,	,	PUNCT
ajfa-9455	219	6	&	&	CCONJ
ajfa-9455	219	7	harvey	harvey	PROPN
ajfa-9455	219	8	,	,	PUNCT
ajfa-9455	219	9	c.r	c.r	PROPN
ajfa-9455	219	10	.	.	PROPN
ajfa-9455	219	11	(	(	PUNCT
ajfa-9455	219	12	2013	2013	NUM
ajfa-9455	219	13	)	)	PUNCT
ajfa-9455	219	14	.	.	PUNCT
ajfa-9455	220	1	emerging	emerge	VERB
ajfa-9455	220	2	equity	equity	NOUN
ajfa-9455	220	3	markets	market	NOUN
ajfa-9455	220	4	in	in	ADP
ajfa-9455	220	5	a	a	DET
ajfa-9455	220	6	globalizing	globalize	VERB
ajfa-9455	220	7	world	world	NOUN
ajfa-9455	220	8	.	.	PUNCT
ajfa-9455	221	1	working	work	VERB
ajfa-9455	221	2	paper	paper	NOUN
ajfa-9455	221	3	.	.	PUNCT
ajfa-9455	222	1	http://dx.doi.org/10.2139/ssrn.2344817	http://dx.doi.org/10.2139/ssrn.2344817	X
ajfa-9455	223	1	bertrand	bertrand	PROPN
ajfa-9455	223	2	,	,	PUNCT
ajfa-9455	223	3	m.	m.	NOUN
ajfa-9455	223	4	,	,	PUNCT
ajfa-9455	223	5	mehta	mehta	PROPN
ajfa-9455	223	6	,	,	PUNCT
ajfa-9455	223	7	p.	p.	PROPN
ajfa-9455	223	8	,	,	PUNCT
ajfa-9455	223	9	&	&	CCONJ
ajfa-9455	223	10	mullainathan	mullainathan	PROPN
ajfa-9455	223	11	,	,	PUNCT
ajfa-9455	223	12	s.	s.	PROPN
ajfa-9455	223	13	(	(	PUNCT
ajfa-9455	223	14	2002	2002	NUM
ajfa-9455	223	15	)	)	PUNCT
ajfa-9455	223	16	.	.	PUNCT
ajfa-9455	224	1	ferreting	ferret	VERB
ajfa-9455	224	2	out	out	ADP
ajfa-9455	224	3	tunneling	tunnel	VERB
ajfa-9455	224	4	:	:	PUNCT
ajfa-9455	224	5	an	an	DET
ajfa-9455	224	6	application	application	NOUN
ajfa-9455	224	7	to	to	ADP
ajfa-9455	224	8	indian	indian	ADJ
ajfa-9455	224	9	business	business	NOUN
ajfa-9455	224	10	groups	group	NOUN
ajfa-9455	224	11	.	.	PUNCT
ajfa-9455	225	1	quarterly	quarterly	ADJ
ajfa-9455	225	2	journal	journal	NOUN
ajfa-9455	225	3	of	of	ADP
ajfa-9455	225	4	economics	economic	NOUN
ajfa-9455	225	5	,	,	PUNCT
ajfa-9455	225	6	117(1	117(1	NUM
ajfa-9455	225	7	)	)	PUNCT
ajfa-9455	225	8	,	,	PUNCT
ajfa-9455	225	9	121–148	121–148	NUM
ajfa-9455	225	10	.	.	PUNCT
ajfa-9455	226	1	http://dx.doi.org/10.1162/003355302753399463	http://dx.doi.org/10.1162/003355302753399463	PROPN
ajfa-9455	226	2	bhadu	bhadu	NOUN
ajfa-9455	226	3	,	,	PUNCT
ajfa-9455	226	4	s.	s.	PROPN
ajfa-9455	226	5	k.	k.	PROPN
ajfa-9455	226	6	,	,	PUNCT
ajfa-9455	226	7	&	&	CCONJ
ajfa-9455	226	8	warne	warne	PROPN
ajfa-9455	226	9	,	,	PUNCT
ajfa-9455	226	10	d.	d.	PROPN
ajfa-9455	226	11	p.	p.	PROPN
ajfa-9455	226	12	(	(	PUNCT
ajfa-9455	226	13	2009	2009	NUM
ajfa-9455	226	14	)	)	PUNCT
ajfa-9455	226	15	.	.	PUNCT
ajfa-9455	227	1	parametric	parametric	ADJ
ajfa-9455	227	2	determinants	determinant	NOUN
ajfa-9455	227	3	of	of	ADP
ajfa-9455	227	4	price	price	NOUN
ajfa-9455	227	5	-	-	PUNCT
ajfa-9455	227	6	earnings	earning	NOUN
ajfa-9455	227	7	ratio	ratio	NOUN
ajfa-9455	227	8	in	in	ADP
ajfa-9455	227	9	indian	indian	ADJ
ajfa-9455	227	10	capital	capital	NOUN
ajfa-9455	227	11	markets	market	NOUN
ajfa-9455	227	12	.	.	PUNCT
ajfa-9455	228	1	the	the	DET
ajfa-9455	228	2	iup	iup	PROPN
ajfa-9455	228	3	journal	journal	NOUN
ajfa-9455	228	4	of	of	ADP
ajfa-9455	228	5	applied	apply	VERB
ajfa-9455	228	6	finance	finance	NOUN
ajfa-9455	228	7	,	,	PUNCT
ajfa-9455	228	8	15(9	15(9	NUM
ajfa-9455	228	9	)	)	PUNCT
ajfa-9455	228	10	,	,	PUNCT
ajfa-9455	228	11	63-82.retrieved	63-82.retrieve	VERB
ajfa-9455	228	12	from	from	ADP
ajfa-9455	228	13	http://ssrn.com/abstract=1470591	http://ssrn.com/abstract=1470591	PROPN
ajfa-9455	228	14	bhandari	bhandari	PROPN
ajfa-9455	228	15	,	,	PUNCT
ajfa-9455	228	16	l.c	l.c	PROPN
ajfa-9455	228	17	.	.	PROPN
ajfa-9455	228	18	(	(	PUNCT
ajfa-9455	228	19	1988	1988	NUM
ajfa-9455	228	20	)	)	PUNCT
ajfa-9455	228	21	.	.	PUNCT
ajfa-9455	229	1	debt	debt	NOUN
ajfa-9455	229	2	/	/	SYM
ajfa-9455	229	3	equity	equity	NOUN
ajfa-9455	229	4	ratio	ratio	NOUN
ajfa-9455	229	5	and	and	CCONJ
ajfa-9455	229	6	expected	expect	VERB
ajfa-9455	229	7	common	common	ADJ
ajfa-9455	229	8	stock	stock	NOUN
ajfa-9455	229	9	returns	return	NOUN
ajfa-9455	229	10	:	:	PUNCT
ajfa-9455	229	11	empirical	empirical	ADJ
ajfa-9455	229	12	evidence	evidence	NOUN
ajfa-9455	229	13	.	.	PUNCT
ajfa-9455	230	1	journal	journal	NOUN
ajfa-9455	230	2	of	of	ADP
ajfa-9455	230	3	finance	finance	NOUN
ajfa-9455	230	4	,	,	PUNCT
ajfa-9455	230	5	43(2	43(2	PROPN
ajfa-9455	230	6	)	)	PUNCT
ajfa-9455	230	7	,	,	PUNCT
ajfa-9455	230	8	507	507	NUM
ajfa-9455	230	9	-	-	SYM
ajfa-9455	230	10	528	528	NUM
ajfa-9455	230	11	.	.	PUNCT
ajfa-9455	231	1	http://dx.doi.org/10.1111/j.1540-6261.1988.tb03952.x	http://dx.doi.org/10.1111/j.1540-6261.1988.tb03952.x	PROPN
ajfa-9455	231	2	asian	asian	PROPN
ajfa-9455	231	3	journal	journal	PROPN
ajfa-9455	231	4	of	of	ADP
ajfa-9455	231	5	finance	finance	PROPN
ajfa-9455	231	6	&	&	CCONJ
ajfa-9455	231	7	accounting	accounting	PROPN
ajfa-9455	231	8	issn	issn	PROPN
ajfa-9455	231	9	1946	1946	NUM
ajfa-9455	231	10	-	-	PUNCT
ajfa-9455	231	11	052x	052x	PROPN
ajfa-9455	231	12	2016	2016	NUM
ajfa-9455	231	13	,	,	PUNCT
ajfa-9455	231	14	vol	vol	NOUN
ajfa-9455	231	15	.	.	PROPN
ajfa-9455	231	16	8	8	NUM
ajfa-9455	231	17	,	,	PUNCT
ajfa-9455	231	18	no	no	INTJ
ajfa-9455	231	19	.	.	NOUN
ajfa-9455	231	20	1	1	NUM
ajfa-9455	231	21	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-9455	231	22	225	225	NUM
ajfa-9455	231	23	bianchi	bianchi	NOUN
ajfa-9455	231	24	,	,	PUNCT
ajfa-9455	231	25	constanza	constanza	PROPN
ajfa-9455	231	26	.	.	PUNCT
ajfa-9455	232	1	(	(	PUNCT
ajfa-9455	232	2	2014	2014	NUM
ajfa-9455	232	3	)	)	PUNCT
ajfa-9455	232	4	.	.	PUNCT
ajfa-9455	233	1	internationalisation	internationalisation	NOUN
ajfa-9455	233	2	of	of	ADP
ajfa-9455	233	3	emerging	emerge	VERB
ajfa-9455	233	4	market	market	NOUN
ajfa-9455	233	5	firms	firm	NOUN
ajfa-9455	233	6	:	:	PUNCT
ajfa-9455	233	7	an	an	DET
ajfa-9455	233	8	exploratory	exploratory	ADJ
ajfa-9455	233	9	study	study	NOUN
ajfa-9455	233	10	of	of	ADP
ajfa-9455	233	11	chilean	chilean	ADJ
ajfa-9455	233	12	companies	company	NOUN
ajfa-9455	233	13	.	.	PUNCT
ajfa-9455	234	1	international	international	ADJ
ajfa-9455	234	2	journal	journal	NOUN
ajfa-9455	234	3	of	of	ADP
ajfa-9455	234	4	emerging	emerge	VERB
ajfa-9455	234	5	markets	market	NOUN
ajfa-9455	234	6	,	,	PUNCT
ajfa-9455	234	7	9(1	9(1	NUM
ajfa-9455	234	8	)	)	PUNCT
ajfa-9455	234	9	,	,	PUNCT
ajfa-9455	234	10	54	54	NUM
ajfa-9455	234	11	-	-	SYM
ajfa-9455	234	12	78	78	NUM
ajfa-9455	234	13	.	.	PUNCT
ajfa-9455	235	1	http://dx.doi.org/10.1108/ijoem-02-2010-0013	http://dx.doi.org/10.1108/ijoem-02-2010-0013	PROPN
ajfa-9455	235	2	black	black	PROPN
ajfa-9455	235	3	,	,	PUNCT
ajfa-9455	235	4	fischer	fischer	PROPN
ajfa-9455	235	5	.	.	PUNCT
ajfa-9455	236	1	(	(	PUNCT
ajfa-9455	236	2	1972	1972	NUM
ajfa-9455	236	3	)	)	PUNCT
ajfa-9455	236	4	.	.	PUNCT
ajfa-9455	237	1	capital	capital	NOUN
ajfa-9455	237	2	market	market	NOUN
ajfa-9455	237	3	equilibrium	equilibrium	NOUN
ajfa-9455	237	4	with	with	ADP
ajfa-9455	237	5	restricted	restricted	ADJ
ajfa-9455	237	6	borrowing	borrowing	NOUN
ajfa-9455	237	7	.	.	PUNCT
ajfa-9455	238	1	journal	journal	PROPN
ajfa-9455	238	2	of	of	ADP
ajfa-9455	238	3	business	business	NOUN
ajfa-9455	238	4	,	,	PUNCT
ajfa-9455	238	5	45(3	45(3	NUM
ajfa-9455	238	6	)	)	PUNCT
ajfa-9455	238	7	,	,	PUNCT
ajfa-9455	238	8	444	444	NUM
ajfa-9455	238	9	-	-	SYM
ajfa-9455	238	10	455	455	NUM
ajfa-9455	238	11	.	.	PUNCT
ajfa-9455	239	1	http://dx.doi.org/10.1086/295472	http://dx.doi.org/10.1086/295472	PROPN
ajfa-9455	239	2	black	black	PROPN
ajfa-9455	239	3	,	,	PUNCT
ajfa-9455	239	4	f.	f.	PROPN
ajfa-9455	239	5	,	,	PUNCT
ajfa-9455	239	6	jensen	jensen	PROPN
ajfa-9455	239	7	,	,	PUNCT
ajfa-9455	239	8	m.	m.	PROPN
ajfa-9455	239	9	c.	c.	PROPN
ajfa-9455	239	10	,	,	PUNCT
ajfa-9455	239	11	and	and	CCONJ
ajfa-9455	239	12	scholes	schole	NOUN
ajfa-9455	239	13	,	,	PUNCT
ajfa-9455	239	14	m.	m.	NOUN
ajfa-9455	239	15	(	(	PUNCT
ajfa-9455	239	16	1972	1972	NUM
ajfa-9455	239	17	)	)	PUNCT
ajfa-9455	239	18	.	.	PUNCT
ajfa-9455	240	1	the	the	DET
ajfa-9455	240	2	capital	capital	NOUN
ajfa-9455	240	3	asset	asset	NOUN
ajfa-9455	240	4	pricing	pricing	NOUN
ajfa-9455	240	5	model	model	NOUN
ajfa-9455	240	6	:	:	PUNCT
ajfa-9455	240	7	some	some	DET
ajfa-9455	240	8	empirical	empirical	ADJ
ajfa-9455	240	9	tests	test	NOUN
ajfa-9455	240	10	.	.	PUNCT
ajfa-9455	241	1	in	in	ADP
ajfa-9455	241	2	jensen	jensen	PROPN
ajfa-9455	241	3	,	,	PUNCT
ajfa-9455	241	4	m.	m.	PROPN
ajfa-9455	241	5	c.	c.	PROPN
ajfa-9455	241	6	,	,	PUNCT
ajfa-9455	241	7	studies	study	NOUN
ajfa-9455	241	8	in	in	ADP
ajfa-9455	241	9	the	the	DET
ajfa-9455	241	10	theory	theory	NOUN
ajfa-9455	241	11	of	of	ADP
ajfa-9455	241	12	capital	capital	NOUN
ajfa-9455	241	13	markets	market	NOUN
ajfa-9455	241	14	.	.	PUNCT
ajfa-9455	242	1	new	new	PROPN
ajfa-9455	242	2	york	york	PROPN
ajfa-9455	242	3	:	:	PUNCT
ajfa-9455	243	1	ptaeger	ptaeger	ADJ
ajfa-9455	243	2	.	.	PUNCT
ajfa-9455	244	1	capital	capital	NOUN
ajfa-9455	244	2	markets	market	NOUN
ajfa-9455	244	3	in	in	ADP
ajfa-9455	244	4	2025	2025	NUM
ajfa-9455	244	5	:	:	PUNCT
ajfa-9455	244	6	the	the	DET
ajfa-9455	244	7	future	future	ADJ
ajfa-9455	244	8	equity	equity	NOUN
ajfa-9455	244	9	capital	capital	NOUN
ajfa-9455	244	10	markets	market	NOUN
ajfa-9455	244	11	.	.	PUNCT
ajfa-9455	245	1	a	a	DET
ajfa-9455	245	2	pwc	pwc	PROPN
ajfa-9455	245	3	ipo	ipo	PROPN
ajfa-9455	245	4	centre	centre	PROPN
ajfa-9455	245	5	publication	publication	NOUN
ajfa-9455	245	6	,	,	PUNCT
ajfa-9455	245	7	retrieve	retrieve	VERB
ajfa-9455	245	8	from	from	ADP
ajfa-9455	245	9	http://www.pwc.de/de_de/de/kapitalmarktorientierte-unternehmen/assets/capital_markets_i	http://www.pwc.de/de_de/de/kapitalmarktorientierte-unternehmen/assets/capital_markets_i	PROPN
ajfa-9455	245	10	n_2025__web.pdf	n_2025__web.pdf	PROPN
ajfa-9455	245	11	(	(	PUNCT
ajfa-9455	245	12	accessed	access	VERB
ajfa-9455	245	13	25	25	NUM
ajfa-9455	245	14	july	july	PROPN
ajfa-9455	245	15	2015	2015	NUM
ajfa-9455	245	16	)	)	PUNCT
ajfa-9455	245	17	.	.	PUNCT
ajfa-9455	246	1	carlson	carlson	PROPN
ajfa-9455	246	2	,	,	PUNCT
ajfa-9455	246	3	m.	m.	NOUN
ajfa-9455	246	4	,	,	PUNCT
ajfa-9455	246	5	fisher	fisher	PROPN
ajfa-9455	246	6	,	,	PUNCT
ajfa-9455	246	7	a.	a.	PROPN
ajfa-9455	246	8	,	,	PUNCT
ajfa-9455	246	9	&	&	CCONJ
ajfa-9455	246	10	giammarino	giammarino	PROPN
ajfa-9455	246	11	,	,	PUNCT
ajfa-9455	246	12	r.	r.	PROPN
ajfa-9455	246	13	(	(	PUNCT
ajfa-9455	246	14	2004	2004	NUM
ajfa-9455	246	15	)	)	PUNCT
ajfa-9455	246	16	.	.	PUNCT
ajfa-9455	247	1	corporate	corporate	ADJ
ajfa-9455	247	2	investment	investment	NOUN
ajfa-9455	247	3	and	and	CCONJ
ajfa-9455	247	4	asset	asset	NOUN
ajfa-9455	247	5	price	price	NOUN
ajfa-9455	247	6	dynamics	dynamic	NOUN
ajfa-9455	247	7	:	:	PUNCT
ajfa-9455	247	8	implications	implication	NOUN
ajfa-9455	247	9	for	for	ADP
ajfa-9455	247	10	the	the	DET
ajfa-9455	247	11	cross	cross	NOUN
ajfa-9455	247	12	section	section	NOUN
ajfa-9455	247	13	of	of	ADP
ajfa-9455	247	14	returns	return	NOUN
ajfa-9455	247	15	.	.	PUNCT
ajfa-9455	248	1	journal	journal	NOUN
ajfa-9455	248	2	of	of	ADP
ajfa-9455	248	3	finance	finance	NOUN
ajfa-9455	248	4	,	,	PUNCT
ajfa-9455	248	5	59(6	59(6	NUM
ajfa-9455	248	6	)	)	PUNCT
ajfa-9455	248	7	,	,	PUNCT
ajfa-9455	248	8	2577	2577	NUM
ajfa-9455	248	9	-	-	SYM
ajfa-9455	248	10	2603	2603	NUM
ajfa-9455	248	11	.	.	PUNCT
ajfa-9455	249	1	http://dx.doi.org/10.1111/j.1540-6261.2004.00709.x	http://dx.doi.org/10.1111/j.1540-6261.2004.00709.x	PROPN
ajfa-9455	249	2	cheng	cheng	PROPN
ajfa-9455	249	3	,	,	PUNCT
ajfa-9455	249	4	ming	ming	PROPN
ajfa-9455	249	5	-	-	PUNCT
ajfa-9455	249	6	chang	chang	PROPN
ajfa-9455	249	7	&	&	CCONJ
ajfa-9455	249	8	tzeng	tzeng	PROPN
ajfa-9455	249	9	,	,	PUNCT
ajfa-9455	249	10	zuwei	zuwei	PROPN
ajfa-9455	249	11	-	-	PUNCT
ajfa-9455	249	12	ching	ching	PROPN
ajfa-9455	249	13	(	(	PUNCT
ajfa-9455	249	14	2011	2011	NUM
ajfa-9455	249	15	)	)	PUNCT
ajfa-9455	249	16	.	.	PUNCT
ajfa-9455	250	1	the	the	DET
ajfa-9455	250	2	effect	effect	NOUN
ajfa-9455	250	3	of	of	ADP
ajfa-9455	250	4	leverage	leverage	NOUN
ajfa-9455	250	5	on	on	ADP
ajfa-9455	250	6	firm	firm	ADJ
ajfa-9455	250	7	value	value	NOUN
ajfa-9455	250	8	and	and	CCONJ
ajfa-9455	250	9	how	how	SCONJ
ajfa-9455	250	10	the	the	DET
ajfa-9455	250	11	firm	firm	ADJ
ajfa-9455	250	12	financial	financial	ADJ
ajfa-9455	250	13	quality	quality	NOUN
ajfa-9455	250	14	influence	influence	NOUN
ajfa-9455	250	15	on	on	ADP
ajfa-9455	250	16	this	this	DET
ajfa-9455	250	17	effect	effect	NOUN
ajfa-9455	250	18	.	.	PUNCT
ajfa-9455	251	1	world	world	PROPN
ajfa-9455	251	2	journal	journal	PROPN
ajfa-9455	251	3	of	of	ADP
ajfa-9455	251	4	management	management	NOUN
ajfa-9455	251	5	,	,	PUNCT
ajfa-9455	251	6	3(2	3(2	NUM
ajfa-9455	251	7	)	)	PUNCT
ajfa-9455	251	8	,	,	PUNCT
ajfa-9455	251	9	30	30	NUM
ajfa-9455	251	10	-	-	SYM
ajfa-9455	251	11	53	53	NUM
ajfa-9455	251	12	.	.	PUNCT
ajfa-9455	252	1	cheung	cheung	PROPN
ajfa-9455	252	2	,	,	PUNCT
ajfa-9455	252	3	w.y	w.y	PROPN
ajfa-9455	252	4	.	.	PROPN
ajfa-9455	252	5	,	,	PUNCT
ajfa-9455	252	6	&	&	CCONJ
ajfa-9455	252	7	ng	ng	PROPN
ajfa-9455	252	8	,	,	PUNCT
ajfa-9455	252	9	l.k	l.k	PROPN
ajfa-9455	252	10	.	.	PROPN
ajfa-9455	252	11	(	(	PUNCT
ajfa-9455	252	12	1992	1992	NUM
ajfa-9455	252	13	)	)	PUNCT
ajfa-9455	252	14	.	.	PUNCT
ajfa-9455	253	1	intersections	intersection	NOUN
ajfa-9455	253	2	between	between	ADP
ajfa-9455	253	3	the	the	DET
ajfa-9455	253	4	u.s	u.s	PROPN
ajfa-9455	253	5	.	.	PROPN
ajfa-9455	253	6	and	and	CCONJ
ajfa-9455	253	7	japan	japan	PROPN
ajfa-9455	253	8	stock	stock	PROPN
ajfa-9455	253	9	market	market	NOUN
ajfa-9455	253	10	indices	index	NOUN
ajfa-9455	253	11	.	.	PUNCT
ajfa-9455	254	1	journal	journal	NOUN
ajfa-9455	254	2	of	of	ADP
ajfa-9455	254	3	international	international	ADJ
ajfa-9455	254	4	financial	financial	ADJ
ajfa-9455	254	5	management	management	NOUN
ajfa-9455	254	6	,	,	PUNCT
ajfa-9455	254	7	institutions	institution	NOUN
ajfa-9455	254	8	and	and	CCONJ
ajfa-9455	254	9	markets	market	NOUN
ajfa-9455	254	10	,	,	PUNCT
ajfa-9455	254	11	21(1	21(1	NUM
ajfa-9455	254	12	)	)	PUNCT
ajfa-9455	254	13	,	,	PUNCT
ajfa-9455	254	14	93–108	93–108	NUM
ajfa-9455	254	15	.	.	PUNCT
ajfa-9455	255	1	christie	christie	PROPN
ajfa-9455	255	2	,	,	PUNCT
ajfa-9455	255	3	a.a	a.a	PROPN
ajfa-9455	255	4	.	.	PROPN
ajfa-9455	255	5	(	(	PUNCT
ajfa-9455	255	6	1982	1982	NUM
ajfa-9455	255	7	)	)	PUNCT
ajfa-9455	255	8	.	.	PUNCT
ajfa-9455	256	1	the	the	DET
ajfa-9455	256	2	stochastic	stochastic	ADJ
ajfa-9455	256	3	behaviour	behaviour	NOUN
ajfa-9455	256	4	of	of	ADP
ajfa-9455	256	5	common	common	ADJ
ajfa-9455	256	6	stock	stock	NOUN
ajfa-9455	256	7	variance	variance	NOUN
ajfa-9455	256	8	value	value	NOUN
ajfa-9455	256	9	,	,	PUNCT
ajfa-9455	256	10	leverage	leverage	NOUN
ajfa-9455	256	11	and	and	CCONJ
ajfa-9455	256	12	interest	interest	NOUN
ajfa-9455	256	13	rate	rate	NOUN
ajfa-9455	256	14	effects	effect	NOUN
ajfa-9455	256	15	.	.	PUNCT
ajfa-9455	257	1	journal	journal	NOUN
ajfa-9455	257	2	of	of	ADP
ajfa-9455	257	3	financial	financial	ADJ
ajfa-9455	257	4	economics	economic	NOUN
ajfa-9455	257	5	,	,	PUNCT
ajfa-9455	257	6	10(4	10(4	NUM
ajfa-9455	257	7	)	)	PUNCT
ajfa-9455	257	8	,	,	PUNCT
ajfa-9455	257	9	407–32	407–32	PROPN
ajfa-9455	257	10	.	.	PUNCT
ajfa-9455	258	1	http://dx.doi.org/10.1016/0304-405x(82)90018-6	http://dx.doi.org/10.1016/0304-405x(82)90018-6	PROPN
ajfa-9455	258	2	collins	collins	PROPN
ajfa-9455	258	3	,	,	PUNCT
ajfa-9455	258	4	d.	d.	PROPN
ajfa-9455	258	5	,	,	PUNCT
ajfa-9455	258	6	rozeff	rozeff	NOUN
ajfa-9455	258	7	,	,	PUNCT
ajfa-9455	258	8	m.	m.	NOUN
ajfa-9455	258	9	,	,	PUNCT
ajfa-9455	258	10	&	&	CCONJ
ajfa-9455	258	11	dhaliwal	dhaliwal	PROPN
ajfa-9455	258	12	,	,	PUNCT
ajfa-9455	258	13	d.	d.	PROPN
ajfa-9455	258	14	(	(	PUNCT
ajfa-9455	258	15	1981	1981	NUM
ajfa-9455	258	16	)	)	PUNCT
ajfa-9455	258	17	.	.	PUNCT
ajfa-9455	259	1	the	the	DET
ajfa-9455	259	2	economics	economics	NOUN
ajfa-9455	259	3	determinants	determinant	NOUN
ajfa-9455	259	4	of	of	ADP
ajfa-9455	259	5	the	the	DET
ajfa-9455	259	6	market	market	NOUN
ajfa-9455	259	7	reaction	reaction	NOUN
ajfa-9455	259	8	to	to	ADP
ajfa-9455	259	9	proposed	propose	VERB
ajfa-9455	259	10	mandatory	mandatory	ADJ
ajfa-9455	259	11	accounting	accounting	NOUN
ajfa-9455	259	12	changes	change	NOUN
ajfa-9455	259	13	in	in	ADP
ajfa-9455	259	14	the	the	DET
ajfa-9455	259	15	oil	oil	NOUN
ajfa-9455	259	16	and	and	CCONJ
ajfa-9455	259	17	gas	gas	NOUN
ajfa-9455	259	18	industry	industry	NOUN
ajfa-9455	259	19	:	:	PUNCT
ajfa-9455	259	20	a	a	DET
ajfa-9455	259	21	cross	cross	ADJ
ajfa-9455	259	22	-	-	ADJ
ajfa-9455	259	23	sectional	sectional	ADJ
ajfa-9455	259	24	analysis	analysis	NOUN
ajfa-9455	259	25	.	.	PUNCT
ajfa-9455	260	1	journal	journal	NOUN
ajfa-9455	260	2	of	of	ADP
ajfa-9455	260	3	accounting	accounting	NOUN
ajfa-9455	260	4	and	and	CCONJ
ajfa-9455	260	5	economics	economic	NOUN
ajfa-9455	260	6	,	,	PUNCT
ajfa-9455	260	7	3(1	3(1	NUM
ajfa-9455	260	8	)	)	PUNCT
ajfa-9455	260	9	,	,	PUNCT
ajfa-9455	260	10	37	37	NUM
ajfa-9455	260	11	-	-	SYM
ajfa-9455	260	12	71	71	NUM
ajfa-9455	260	13	.	.	PUNCT
ajfa-9455	261	1	cooper	cooper	PROPN
ajfa-9455	261	2	,	,	PUNCT
ajfa-9455	261	3	i.	i.	PROPN
ajfa-9455	261	4	(	(	PUNCT
ajfa-9455	261	5	2006	2006	NUM
ajfa-9455	261	6	)	)	PUNCT
ajfa-9455	261	7	.	.	PUNCT
ajfa-9455	262	1	asset	asset	NOUN
ajfa-9455	262	2	pricing	pricing	NOUN
ajfa-9455	262	3	implications	implication	NOUN
ajfa-9455	262	4	of	of	ADP
ajfa-9455	262	5	non	non	ADJ
ajfa-9455	262	6	-	-	ADJ
ajfa-9455	262	7	convex	convex	ADJ
ajfa-9455	262	8	adjustment	adjustment	NOUN
ajfa-9455	262	9	costs	cost	NOUN
ajfa-9455	262	10	and	and	CCONJ
ajfa-9455	262	11	irreversibility	irreversibility	NOUN
ajfa-9455	262	12	of	of	ADP
ajfa-9455	262	13	investment	investment	NOUN
ajfa-9455	262	14	.	.	PUNCT
ajfa-9455	263	1	journal	journal	PROPN
ajfa-9455	263	2	of	of	ADP
ajfa-9455	263	3	finance	finance	NOUN
ajfa-9455	263	4	,	,	PUNCT
ajfa-9455	263	5	61(1	61(1	NOUN
ajfa-9455	263	6	)	)	PUNCT
ajfa-9455	263	7	,	,	PUNCT
ajfa-9455	263	8	139–170	139–170	NUM
ajfa-9455	263	9	.	.	PUNCT
ajfa-9455	264	1	http://dx.doi.org/10.1111/j.1540-6261.2006.00832.x	http://dx.doi.org/10.1111/j.1540-6261.2006.00832.x	DET
ajfa-9455	264	2	deakin	deakin	PROPN
ajfa-9455	264	3	,	,	PUNCT
ajfa-9455	264	4	e.	e.	PROPN
ajfa-9455	264	5	(	(	PUNCT
ajfa-9455	264	6	1979	1979	NUM
ajfa-9455	264	7	)	)	PUNCT
ajfa-9455	264	8	.	.	PUNCT
ajfa-9455	265	1	an	an	DET
ajfa-9455	265	2	analysis	analysis	NOUN
ajfa-9455	265	3	of	of	ADP
ajfa-9455	265	4	differences	difference	NOUN
ajfa-9455	265	5	between	between	ADP
ajfa-9455	265	6	non	non	ADJ
ajfa-9455	265	7	-	-	ADJ
ajfa-9455	265	8	major	major	ADJ
ajfa-9455	265	9	oil	oil	NOUN
ajfa-9455	265	10	firms	firm	NOUN
ajfa-9455	265	11	using	use	VERB
ajfa-9455	265	12	successful	successful	ADJ
ajfa-9455	265	13	efforts	effort	NOUN
ajfa-9455	265	14	and	and	CCONJ
ajfa-9455	265	15	full	full	ADJ
ajfa-9455	265	16	cost	cost	NOUN
ajfa-9455	265	17	methods	method	NOUN
ajfa-9455	265	18	.	.	PUNCT
ajfa-9455	266	1	accounting	accounting	NOUN
ajfa-9455	266	2	review	review	PROPN
ajfa-9455	266	3	,	,	PUNCT
ajfa-9455	266	4	54(4	54(4	NUM
ajfa-9455	266	5	)	)	PUNCT
ajfa-9455	266	6	,	,	PUNCT
ajfa-9455	266	7	722	722	NUM
ajfa-9455	266	8	-	-	SYM
ajfa-9455	266	9	734	734	NUM
ajfa-9455	266	10	.	.	PUNCT
ajfa-9455	267	1	deyoung	deyoung	PROPN
ajfa-9455	267	2	,	,	PUNCT
ajfa-9455	267	3	r.	r.	PROPN
ajfa-9455	267	4	,	,	PUNCT
ajfa-9455	267	5	&	&	CCONJ
ajfa-9455	267	6	roland	roland	PROPN
ajfa-9455	267	7	,	,	PUNCT
ajfa-9455	267	8	k.p	k.p	PROPN
ajfa-9455	267	9	.	.	PROPN
ajfa-9455	267	10	(	(	PUNCT
ajfa-9455	267	11	2001	2001	NUM
ajfa-9455	267	12	)	)	PUNCT
ajfa-9455	267	13	.	.	PUNCT
ajfa-9455	268	1	product	product	NOUN
ajfa-9455	268	2	mix	mix	NOUN
ajfa-9455	268	3	and	and	CCONJ
ajfa-9455	268	4	earnings	earning	NOUN
ajfa-9455	268	5	volatility	volatility	NOUN
ajfa-9455	268	6	at	at	ADP
ajfa-9455	268	7	commercial	commercial	ADJ
ajfa-9455	268	8	banks	bank	NOUN
ajfa-9455	268	9	:	:	PUNCT
ajfa-9455	268	10	evidence	evidence	NOUN
ajfa-9455	268	11	from	from	ADP
ajfa-9455	268	12	a	a	DET
ajfa-9455	268	13	degree	degree	NOUN
ajfa-9455	268	14	of	of	ADP
ajfa-9455	268	15	total	total	ADJ
ajfa-9455	268	16	leverage	leverage	NOUN
ajfa-9455	268	17	model	model	NOUN
ajfa-9455	268	18	.	.	PUNCT
ajfa-9455	269	1	journal	journal	PROPN
ajfa-9455	269	2	of	of	ADP
ajfa-9455	269	3	financial	financial	ADJ
ajfa-9455	269	4	intermediation	intermediation	NOUN
ajfa-9455	269	5	,	,	PUNCT
ajfa-9455	269	6	10	10	NUM
ajfa-9455	269	7	,	,	PUNCT
ajfa-9455	269	8	54	54	NUM
ajfa-9455	269	9	-	-	SYM
ajfa-9455	269	10	84	84	NUM
ajfa-9455	269	11	.	.	PUNCT
ajfa-9455	270	1	http://dx.doi.org/10.1006/jfin.2000.0305	http://dx.doi.org/10.1006/jfin.2000.0305	PROPN
ajfa-9455	270	2	asian	asian	PROPN
ajfa-9455	270	3	journal	journal	PROPN
ajfa-9455	270	4	of	of	ADP
ajfa-9455	270	5	finance	finance	PROPN
ajfa-9455	270	6	&	&	CCONJ
ajfa-9455	270	7	accounting	accounting	PROPN
ajfa-9455	270	8	issn	issn	PROPN
ajfa-9455	270	9	1946	1946	NUM
ajfa-9455	270	10	-	-	PUNCT
ajfa-9455	270	11	052x	052x	PROPN
ajfa-9455	270	12	2016	2016	NUM
ajfa-9455	270	13	,	,	PUNCT
ajfa-9455	270	14	vol	vol	NOUN
ajfa-9455	270	15	.	.	PROPN
ajfa-9455	270	16	8	8	NUM
ajfa-9455	270	17	,	,	PUNCT
ajfa-9455	270	18	no	no	INTJ
ajfa-9455	270	19	.	.	NOUN
ajfa-9455	270	20	1	1	NUM
ajfa-9455	270	21	ajfa.macrothink.org	ajfa.macrothink.org	PROPN
ajfa-9455	270	22	226	226	NUM
ajfa-9455	270	23	dimitrov	dimitrov	NOUN
ajfa-9455	270	24	,	,	PUNCT
ajfa-9455	270	25	v.	v.	PROPN
ajfa-9455	270	26	,	,	PUNCT
ajfa-9455	270	27	&	&	CCONJ
ajfa-9455	270	28	jain	jain	PROPN
ajfa-9455	270	29	,	,	PUNCT
ajfa-9455	270	30	p.c	p.c	PROPN
ajfa-9455	270	31	.	.	PROPN
ajfa-9455	270	32	(	(	PUNCT
ajfa-9455	270	33	2008	2008	NUM
ajfa-9455	270	34	)	)	PUNCT
ajfa-9455	270	35	.	.	PUNCT
ajfa-9455	271	1	the	the	DET
ajfa-9455	271	2	value	value	NOUN
ajfa-9455	271	3	relevance	relevance	NOUN
ajfa-9455	271	4	of	of	ADP
ajfa-9455	271	5	changes	change	NOUN
ajfa-9455	271	6	in	in	ADP
ajfa-9455	271	7	financial	financial	ADJ
ajfa-9455	271	8	leverage	leverage	NOUN
ajfa-9455	271	9	beyond	beyond	ADP
ajfa-9455	271	10	growth	growth	NOUN
ajfa-9455	271	11	in	in	ADP
ajfa-9455	271	12	assets	asset	NOUN
ajfa-9455	271	13	and	and	CCONJ
ajfa-9455	271	14	gaap	gaap	PROPN
ajfa-9455	271	15	earnings	earning	NOUN
ajfa-9455	271	16	.	.	PUNCT
ajfa-9455	272	1	journal	journal	NOUN
ajfa-9455	272	2	of	of	ADP
ajfa-9455	272	3	accounting	accounting	NOUN
ajfa-9455	272	4	,	,	PUNCT
ajfa-9455	272	5	auditing	auditing	NOUN
ajfa-9455	272	6	&	&	CCONJ
ajfa-9455	272	7	finance	finance	NOUN
ajfa-9455	272	8	,	,	PUNCT
ajfa-9455	272	9	23	23	NUM
ajfa-9455	272	10	(	(	PUNCT
ajfa-9455	272	11	2	2	NUM
ajfa-9455	272	12	)	)	PUNCT
ajfa-9455	272	13	,	,	PUNCT
ajfa-9455	272	14	191–222	191–222	NUM
ajfa-9455	272	15	.	.	PUNCT
ajfa-9455	273	1	dotan	dotan	PROPN
ajfa-9455	273	2	,	,	PUNCT
ajfa-9455	273	3	a.	a.	PROPN
ajfa-9455	273	4	,	,	PUNCT
ajfa-9455	273	5	&	&	CCONJ
ajfa-9455	273	6	ravid	ravid	PROPN
ajfa-9455	273	7	,	,	PUNCT
ajfa-9455	273	8	s.a	s.a	PROPN
ajfa-9455	273	9	.	.	PROPN
ajfa-9455	273	10	(	(	PUNCT
ajfa-9455	273	11	1985	1985	NUM
ajfa-9455	273	12	)	)	PUNCT
ajfa-9455	273	13	.	.	PUNCT
ajfa-9455	274	1	on	on	ADP
ajfa-9455	274	2	the	the	DET
ajfa-9455	274	3	interaction	interaction	NOUN
ajfa-9455	274	4	of	of	ADP
ajfa-9455	274	5	real	real	ADJ
ajfa-9455	274	6	and	and	CCONJ
ajfa-9455	274	7	financial	financial	ADJ
ajfa-9455	274	8	decisions	decision	NOUN
ajfa-9455	274	9	of	of	ADP
ajfa-9455	274	10	the	the	DET
ajfa-9455	274	11	firm	firm	NOUN
ajfa-9455	274	12	under	under	ADP
ajfa-9455	274	13	uncertainty	uncertainty	NOUN
ajfa-9455	274	14	.	.	PUNCT
ajfa-9455	275	1	journal	journal	PROPN
ajfa-9455	275	2	of	of	ADP
ajfa-9455	275	3	finance	finance	NOUN
ajfa-9455	275	4	,	,	PUNCT
ajfa-9455	275	5	40	40	NUM
ajfa-9455	275	6	,	,	PUNCT
ajfa-9455	275	7	501	501	NUM
ajfa-9455	275	8	-	-	SYM
ajfa-9455	275	9	517	517	NUM
ajfa-9455	275	10	.	.	PUNCT
ajfa-9455	276	1	http://dx.doi.org/10.1111/j.1540-6261.1985.tb04969.x	http://dx.doi.org/10.1111/j.1540-6261.1985.tb04969.x	PROPN
ajfa-9455	276	2	dumontier	dumontier	NOUN
ajfa-9455	276	3	,	,	PUNCT
ajfa-9455	276	4	p.	p.	PROPN
ajfa-9455	276	5	,	,	PUNCT
ajfa-9455	276	6	&	&	CCONJ
ajfa-9455	276	7	raffournier	raffournier	PROPN
ajfa-9455	276	8	,	,	PUNCT
ajfa-9455	276	9	b.	b.	PROPN
ajfa-9455	276	10	(	(	PUNCT
ajfa-9455	276	11	2002	2002	NUM
ajfa-9455	276	12	)	)	PUNCT
ajfa-9455	276	13	.	.	PUNCT
ajfa-9455	277	1	accounting	accounting	NOUN
ajfa-9455	277	2	and	and	CCONJ
ajfa-9455	277	3	capital	capital	NOUN
ajfa-9455	277	4	markets	market	NOUN
ajfa-9455	277	5	:	:	PUNCT
ajfa-9455	277	6	a	a	DET
ajfa-9455	277	7	survey	survey	NOUN
ajfa-9455	277	8	of	of	ADP
ajfa-9455	277	9	the	the	DET
ajfa-9455	277	10	european	european	ADJ
ajfa-9455	277	11	evidence	evidence	NOUN
ajfa-9455	277	12	.	.	PUNCT
ajfa-9455	278	1	the	the	DET
ajfa-9455	278	2	european	european	PROPN
ajfa-9455	278	3	accounting	accounting	PROPN
ajfa-9455	278	4	review	review	PROPN
ajfa-9455	278	5	,	,	PUNCT
ajfa-9455	278	6	11(1	11(1	NUM
ajfa-9455	278	7	)	)	PUNCT
ajfa-9455	278	8	,	,	PUNCT
ajfa-9455	278	9	119–151	119–151	NUM
ajfa-9455	278	10	.	.	PUNCT
ajfa-9455	279	1	http://dx.doi.org/10.1080/09638180220124761	http://dx.doi.org/10.1080/09638180220124761	PROPN
ajfa-9455	279	2	fama	fama	PROPN
ajfa-9455	279	3	,	,	PUNCT
ajfa-9455	279	4	e.	e.	PROPN
ajfa-9455	279	5	f.	f.	PROPN
ajfa-9455	279	6	,	,	PUNCT
ajfa-9455	279	7	&	&	CCONJ
ajfa-9455	279	8	macbeth	macbeth	PROPN
ajfa-9455	279	9	,	,	PUNCT
ajfa-9455	279	10	j.	j.	PROPN
ajfa-9455	279	11	d.	d.	PROPN
ajfa-9455	279	12	(	(	PUNCT
ajfa-9455	279	13	1973	1973	NUM
ajfa-9455	279	14	)	)	PUNCT
ajfa-9455	279	15	.	.	PUNCT
ajfa-9455	280	1	risk	risk	NOUN
ajfa-9455	280	2	,	,	PUNCT
ajfa-9455	280	3	return	return	NOUN
ajfa-9455	280	4	,	,	PUNCT
ajfa-9455	280	5	and	and	CCONJ
ajfa-9455	280	6	equilibrium	equilibrium	NOUN
ajfa-9455	280	7	:	:	PUNCT
ajfa-9455	280	8	empirical	empirical	ADJ
ajfa-9455	280	9	tests	test	NOUN
ajfa-9455	280	10	.	.	PUNCT
ajfa-9455	281	1	journal	journal	NOUN
ajfa-9455	281	2	of	of	ADP
ajfa-9455	281	3	political	political	ADJ
ajfa-9455	281	4	economy	economy	NOUN
ajfa-9455	281	5	,	,	PUNCT
ajfa-9455	281	6	81	81	NUM
ajfa-9455	281	7	,	,	PUNCT
ajfa-9455	281	8	607	607	NUM
ajfa-9455	281	9	-	-	SYM
ajfa-9455	281	10	636	636	NUM
ajfa-9455	281	11	.	.	PUNCT
ajfa-9455	282	1	http://dx.doi.org/10.1086/260061	http://dx.doi.org/10.1086/260061	PROPN
ajfa-9455	282	2	ferri	ferri	PROPN
ajfa-9455	282	3	,	,	PUNCT
ajfa-9455	282	4	m.	m.	NOUN
ajfa-9455	282	5	g.	g.	PROPN
ajfa-9455	282	6	,	,	PUNCT
ajfa-9455	282	7	&	&	CCONJ
ajfa-9455	282	8	jones	jones	PROPN
ajfa-9455	282	9	,	,	PUNCT
ajfa-9455	282	10	w.h	w.h	PROPN
ajfa-9455	282	11	.	.	PROPN
ajfa-9455	282	12	(	(	PUNCT
ajfa-9455	282	13	1979	1979	NUM
ajfa-9455	282	14	)	)	PUNCT
ajfa-9455	282	15	.	.	PUNCT
ajfa-9455	283	1	determinants	determinant	NOUN
ajfa-9455	283	2	of	of	ADP
ajfa-9455	283	3	financial	financial	ADJ
ajfa-9455	283	4	structure	structure	NOUN
ajfa-9455	283	5	:	:	PUNCT
ajfa-9455	283	6	a	a	DET
ajfa-9455	283	7	new	new	ADJ
ajfa-9455	283	8	methodological	methodological	ADJ
ajfa-9455	283	9	approach	approach	NOUN
ajfa-9455	283	10	.	.	PUNCT
ajfa-9455	284	1	journal	journal	PROPN
ajfa-9455	284	2	of	of	ADP
ajfa-9455	284	3	finance	finance	NOUN
ajfa-9455	284	4	,	,	PUNCT
ajfa-9455	284	5	34(3	34(3	NUM
ajfa-9455	284	6	)	)	PUNCT
ajfa-9455	284	7	,	,	PUNCT
ajfa-9455	284	8	631	631	NUM
ajfa-9455	284	9	-	-	SYM
ajfa-9455	284	10	644	644	NUM
ajfa-9455	284	11	.	.	PUNCT
ajfa-9455	285	1	http://dx.doi.org/10.1111/j.1540-6261.1979.tb02130.x	http://dx.doi.org/10.1111/j.1540-6261.1979.tb02130.x	PROPN
ajfa-9455	285	2	flatt	flatt	PROPN
ajfa-9455	285	3	,	,	PUNCT
ajfa-9455	285	4	s.j	s.j	PROPN
ajfa-9455	285	5	.	.	PROPN
ajfa-9455	285	6	,	,	PUNCT
ajfa-9455	285	7	&	&	CCONJ
ajfa-9455	285	8	kowalczyk	kowalczyk	PROPN
ajfa-9455	285	9	,	,	PUNCT
ajfa-9455	285	10	s.j	s.j	PROPN
ajfa-9455	285	11	.	.	PROPN
ajfa-9455	285	12	(	(	PUNCT
ajfa-9455	285	13	2008	2008	NUM
ajfa-9455	285	14	)	)	PUNCT
ajfa-9455	285	15	.	.	PUNCT
ajfa-9455	286	1	creating	create	VERB
ajfa-9455	286	2	competitive	competitive	ADJ
ajfa-9455	286	3	advantage	advantage	NOUN
ajfa-9455	286	4	through	through	ADP
ajfa-9455	286	5	intangible	intangible	ADJ
ajfa-9455	286	6	assets	asset	NOUN
ajfa-9455	286	7	:	:	PUNCT
ajfa-9455	286	8	the	the	DET
ajfa-9455	286	9	direct	direct	ADJ
ajfa-9455	286	10	and	and	CCONJ
ajfa-9455	286	11	indirect	indirect	ADJ
ajfa-9455	286	12	effects	effect	NOUN
ajfa-9455	286	13	of	of	ADP
ajfa-9455	286	14	corporate	corporate	ADJ
ajfa-9455	286	15	culture	culture	NOUN
ajfa-9455	286	16	and	and	CCONJ
ajfa-9455	286	17	reputation	reputation	NOUN
ajfa-9455	286	18	.	.	PUNCT
ajfa-9455	287	1	advances	advance	NOUN
ajfa-9455	287	2	in	in	ADP
ajfa-9455	287	3	competitiveness	competitiveness	NOUN
ajfa-9455	287	4	research	research	NOUN
ajfa-9455	287	5	,	,	PUNCT
ajfa-9455	287	6	16(1	16(1	PROPN
ajfa-9455	287	7	-	-	SYM
ajfa-9455	287	8	2	2	NUM
ajfa-9455	287	9	)	)	PUNCT
ajfa-9455	287	10	,	,	PUNCT
ajfa-9455	287	11	1188	1188	NUM
ajfa-9455	287	12	-	-	SYM
ajfa-9455	287	13	1211	1211	NUM
ajfa-9455	287	14	.	.	PUNCT
ajfa-9455	288	1	francis	francis	PROPN
ajfa-9455	288	2	,	,	PUNCT
ajfa-9455	288	3	j.	j.	PROPN
ajfa-9455	288	4	,	,	PUNCT
ajfa-9455	288	5	&	&	CCONJ
ajfa-9455	288	6	schipper	schipper	PROPN
ajfa-9455	288	7	,	,	PUNCT
ajfa-9455	288	8	k.	k.	PROPN
ajfa-9455	288	9	(	(	PUNCT
ajfa-9455	288	10	1999	1999	NUM
ajfa-9455	288	11	)	)	PUNCT
ajfa-9455	288	12	.	.	PUNCT
ajfa-9455	289	1	have	have	AUX
ajfa-9455	289	2	financial	financial	ADJ
ajfa-9455	289	3	statements	statement	NOUN
ajfa-9455	289	4	lost	lose	VERB
ajfa-9455	289	5	their	their	PRON
ajfa-9455	289	6	relevance	relevance	NOUN
ajfa-9455	289	7	?	?	PUNCT
ajfa-9455	290	1	journal	journal	NOUN
ajfa-9455	290	2	of	of	ADP
ajfa-9455	290	3	accounting	accounting	NOUN
ajfa-9455	290	4	research	research	NOUN
ajfa-9455	290	5	,	,	PUNCT
ajfa-9455	290	6	37(2	37(2	PROPN
ajfa-9455	290	7	)	)	PUNCT
ajfa-9455	290	8	,	,	PUNCT
ajfa-9455	290	9	319–352	319–352	NUM
ajfa-9455	290	10	.	.	PUNCT
ajfa-9455	291	1	http://dx.doi.org/10.2307/2491412	http://dx.doi.org/10.2307/2491412	PROPN
ajfa-9455	291	2	french	french	PROPN
ajfa-9455	291	3	,	,	PUNCT
ajfa-9455	291	4	k.r	k.r	PROPN
ajfa-9455	291	5	.	.	PROPN
ajfa-9455	291	6	,	,	PUNCT
ajfa-9455	291	7	schwert	schwert	PROPN
ajfa-9455	291	8	,	,	PUNCT
ajfa-9455	291	9	g.w	g.w	PROPN
ajfa-9455	291	10	.	.	PROPN
ajfa-9455	291	11	,	,	PUNCT
ajfa-9455	291	12	&	&	CCONJ
ajfa-9455	291	13	stambaugh	stambaugh	PROPN
ajfa-9455	291	14	,	,	PUNCT
ajfa-9455	291	15	r.f	r.f	PROPN
ajfa-9455	291	16	.	.	PROPN
ajfa-9455	291	17	(	(	PUNCT
ajfa-9455	291	18	1987	1987	NUM
ajfa-9455	291	19	)	)	PUNCT
ajfa-9455	291	20	.	.	PUNCT
ajfa-9455	292	1	expected	expect	VERB
ajfa-9455	292	2	stock	stock	NOUN
ajfa-9455	292	3	returns	return	NOUN
ajfa-9455	292	4	and	and	CCONJ
ajfa-9455	292	5	volatility	volatility	NOUN
ajfa-9455	292	6	.	.	PUNCT
ajfa-9455	293	1	journal	journal	NOUN
ajfa-9455	293	2	of	of	ADP
ajfa-9455	293	3	financial	financial	ADJ
ajfa-9455	293	4	economics	economic	NOUN
ajfa-9455	293	5	,	,	PUNCT
ajfa-9455	293	6	19(1	19(1	NUM
ajfa-9455	293	7	)	)	PUNCT
ajfa-9455	293	8	,	,	PUNCT
ajfa-9455	294	1	3–29	3–29	PROPN
ajfa-9455	294	2	.	.	PUNCT
ajfa-9455	295	1	http://dx.doi.org/10.1016/0304-405x(87)90026-2	http://dx.doi.org/10.1016/0304-405x(87)90026-2	NOUN
ajfa-9455	295	2	gahlon	gahlon	PROPN
ajfa-9455	295	3	,	,	PUNCT
ajfa-9455	295	4	j.m	j.m	PROPN
ajfa-9455	295	5	.	.	PROPN
ajfa-9455	295	6	,	,	PUNCT
ajfa-9455	295	7	&	&	CCONJ
ajfa-9455	295	8	gentry	gentry	NOUN
ajfa-9455	295	9	,	,	PUNCT
ajfa-9455	295	10	j.a	j.a	PROPN
ajfa-9455	295	11	.	.	PROPN
ajfa-9455	295	12	(	(	PUNCT
ajfa-9455	295	13	1982	1982	NUM
ajfa-9455	295	14	)	)	PUNCT
ajfa-9455	295	15	.	.	PUNCT
ajfa-9455	296	1	on	on	ADP
ajfa-9455	296	2	the	the	DET
ajfa-9455	296	3	relationship	relationship	NOUN
ajfa-9455	296	4	between	between	ADP
ajfa-9455	296	5	systematic	systematic	ADJ
ajfa-9455	296	6	risk	risk	NOUN
ajfa-9455	296	7	and	and	CCONJ
ajfa-9455	296	8	the	the	DET
ajfa-9455	296	9	degrees	degree	NOUN
ajfa-9455	296	10	of	of	ADP
ajfa-9455	296	11	operating	operating	NOUN
ajfa-9455	296	12	and	and	CCONJ
ajfa-9455	296	13	financial	financial	ADJ
ajfa-9455	296	14	leverage	leverage	NOUN
ajfa-9455	296	15	.	.	PUNCT
ajfa-9455	297	1	financial	financial	ADJ
ajfa-9455	297	2	management	management	NOUN
ajfa-9455	297	3	,	,	PUNCT
ajfa-9455	297	4	11(2	11(2	NUM
ajfa-9455	297	5	)	)	PUNCT
ajfa-9455	297	6	,	,	PUNCT
ajfa-9455	297	7	15–23	15–23	NUM
ajfa-9455	297	8	.	.	PUNCT
ajfa-9455	298	1	http://dx.doi.org/10.2307/3665021	http://dx.doi.org/10.2307/3665021	PROPN
ajfa-9455	298	2	garcia	garcia	PROPN
ajfa-9455	298	3	-	-	PUNCT
ajfa-9455	298	4	feijoo	feijoo	PROPN
ajfa-9455	298	5	,	,	PUNCT
ajfa-9455	298	6	l.	l.	PROPN
ajfa-9455	298	7	,	,	PUNCT
ajfa-9455	298	8	&	&	CCONJ
ajfa-9455	298	9	jorgensen	jorgensen	PROPN
ajfa-9455	298	10	,	,	PUNCT
ajfa-9455	298	11	r.d	r.d	PROPN
ajfa-9455	298	12	.	.	PROPN
ajfa-9455	298	13	(	(	PUNCT
ajfa-9455	298	14	2010	2010	NUM
ajfa-9455	298	15	)	)	PUNCT
ajfa-9455	298	16	.	.	PUNCT
ajfa-9455	299	1	can	can	AUX
ajfa-9455	299	2	operating	operate	VERB
ajfa-9455	299	3	leverage	leverage	NOUN
ajfa-9455	299	4	be	be	AUX
ajfa-9455	299	5	the	the	DET
ajfa-9455	299	6	cause	cause	NOUN
ajfa-9455	299	7	of	of	ADP
ajfa-9455	299	8	the	the	DET
ajfa-9455	299	9	value	value	NOUN
ajfa-9455	299	10	premium	premium	NOUN
ajfa-9455	299	11	?	?	PUNCT
ajfa-9455	300	1	financial	financial	ADJ
ajfa-9455	300	2	management	management	NOUN
ajfa-9455	300	3	,	,	PUNCT
ajfa-9455	300	4	39(3	39(3	NUM
ajfa-9455	300	5	)	)	PUNCT
ajfa-9455	300	6	,	,	PUNCT
ajfa-9455	300	7	1127–1153	1127–1153	NUM
ajfa-9455	300	8	.	.	PUNCT
ajfa-9455	301	1	http://dx.doi.org/10.1111/j.1755-053x.2010.01106.x	http://dx.doi.org/10.1111/j.1755-053x.2010.01106.x	NOUN
ajfa-9455	301	2	garten	garten	NOUN
ajfa-9455	301	3	,	,	PUNCT
ajfa-9455	301	4	j.e	j.e	PROPN
ajfa-9455	301	5	.	.	PROPN
ajfa-9455	301	6	(	(	PUNCT
ajfa-9455	301	7	1997	1997	NUM
ajfa-9455	301	8	)	)	PUNCT
ajfa-9455	301	9	.	.	PUNCT
ajfa-9455	302	1	who	who	PRON
ajfa-9455	302	2	are	be	AUX
ajfa-9455	302	3	the	the	DET
ajfa-9455	302	4	big	big	ADJ
ajfa-9455	302	5	emerging	emerge	VERB
ajfa-9455	302	6	markets	market	NOUN
ajfa-9455	302	7	,	,	PUNCT
ajfa-9455	302	8	and	and	CCONJ
ajfa-9455	302	9	why	why	SCONJ
ajfa-9455	302	10	are	be	AUX
ajfa-9455	302	11	they	they	PRON
ajfa-9455	302	12	important	important	ADJ
ajfa-9455	302	13	?	?	PUNCT
ajfa-9455	303	1	in	in	ADP
ajfa-9455	303	2	garten	garten	PROPN
ajfa-9455	303	3	,	,	PUNCT
ajfa-9455	303	4	j.e	j.e	PROPN
ajfa-9455	303	5	.	.	PUNCT
ajfa-9455	303	6	(	(	PUNCT
ajfa-9455	303	7	ed	ed	NOUN
ajfa-9455	303	8	.	.	PUNCT
ajfa-9455	303	9	)	)	PUNCT
ajfa-9455	303	10	,	,	PUNCT
ajfa-9455	303	11	the	the	DET
ajfa-9455	303	12	big	big	ADJ
ajfa-9455	303	13	ten	ten	NUM
ajfa-9455	303	14	:	:	PUNCT
ajfa-9455	303	15	the	the	DET
ajfa-9455	303	16	big	big	ADJ
ajfa-9455	303	17	emerging	emerge	VERB
ajfa-9455	303	18	markets	market	NOUN
ajfa-9455	303	19	and	and	CCONJ
ajfa-9455	303	20	how	how	SCONJ
ajfa-9455	303	21	they	they	PRON
ajfa-9455	303	22	will	will	AUX
ajfa-9455	303	23	change	change	VERB
ajfa-9455	303	24	our	our	PRON
ajfa-9455	303	25	lives	life	NOUN
ajfa-9455	303	26	(	(	PUNCT
ajfa-9455	303	27	pp.3–23	pp.3–23	NOUN
ajfa-9455	303	28	)	)	PUNCT
ajfa-9455	303	29	.	.	PUNCT
ajfa-9455	304	1	new	new	PROPN
ajfa-9455	304	2	york	york	PROPN
ajfa-9455	304	3	:	:	PUNCT
ajfa-9455	304	4	harpercollins	harpercollins	PROPN
ajfa-9455	304	5	.	.	PUNCT
ajfa-9455	305	1	griffin	griffin	PROPN
ajfa-9455	305	2	,	,	PUNCT
ajfa-9455	305	3	h.f	h.f	PROPN
ajfa-9455	305	4	.	.	PROPN
ajfa-9455	305	5	,	,	PUNCT
ajfa-9455	305	6	&	&	CCONJ
ajfa-9455	305	7	dugan	dugan	PROPN
ajfa-9455	305	8	,	,	PUNCT
ajfa-9455	305	9	m.t	m.t	PROPN
ajfa-9455	305	10	.	.	PROPN
ajfa-9455	305	11	(	(	PUNCT
ajfa-9455	305	12	2003	2003	NUM
ajfa-9455	305	13	)	)	PUNCT
ajfa-9455	305	14	.	.	PUNCT
ajfa-9455	306	1	systematic	systematic	ADJ
ajfa-9455	306	2	risk	risk	NOUN
ajfa-9455	306	3	and	and	CCONJ
ajfa-9455	306	4	revenue	revenue	NOUN
ajfa-9455	306	5	volatility	volatility	NOUN
ajfa-9455	306	6	.	.	PUNCT
ajfa-9455	307	1	journal	journal	NOUN
ajfa-9455	307	2	of	of	ADP
ajfa-9455	307	3	financial	financial	ADJ
ajfa-9455	307	4	research	research	NOUN
ajfa-9455	307	5	,	,	PUNCT
ajfa-9455	307	6	26	26	NUM
ajfa-9455	307	7	,	,	PUNCT
ajfa-9455	307	8	179	179	NUM
ajfa-9455	307	9	-	-	SYM
ajfa-9455	307	10	189	189	NUM
ajfa-9455	307	11	.	.	PUNCT
ajfa-9455	308	1	http://dx.doi.org/10.1111/1475-6803.00053	http://dx.doi.org/10.1111/1475-6803.00053	PROPN
ajfa-9455	308	2	graham	graham	PROPN
ajfa-9455	308	3	,	,	PUNCT
ajfa-9455	308	4	b.	b.	PROPN
ajfa-9455	308	5	,	,	PUNCT
ajfa-9455	308	6	&	&	CCONJ
ajfa-9455	308	7	dodd	dodd	PROPN
ajfa-9455	308	8	,	,	PUNCT
ajfa-9455	308	9	david	david	PROPN
ajfa-9455	308	10	(	(	PUNCT
ajfa-9455	308	11	1934	1934	NUM
ajfa-9455	308	12	)	)	PUNCT
ajfa-9455	308	13	.	.	PUNCT
ajfa-9455	309	1	security	security	NOUN
ajfa-9455	309	2	analysis	analysis	NOUN
ajfa-9455	309	3	.	.	PUNCT
ajfa-9455	310	1	new	new	PROPN
ajfa-9455	310	2	york	york	PROPN
ajfa-9455	310	3	:	:	PUNCT
ajfa-9455	311	1	mcgrawhill	mcgrawhill	PROPN
ajfa-9455	311	2	.	.	PUNCT
ajfa-9455	312	1	habib	habib	PROPN
ajfa-9455	312	2	,	,	PUNCT
ajfa-9455	312	3	a.	a.	NOUN
ajfa-9455	312	4	(	(	PUNCT
ajfa-9455	312	5	2004	2004	NUM
ajfa-9455	312	6	)	)	PUNCT
ajfa-9455	312	7	.	.	PUNCT
ajfa-9455	313	1	impact	impact	NOUN
ajfa-9455	313	2	of	of	ADP
ajfa-9455	313	3	earnings	earning	NOUN
ajfa-9455	313	4	management	management	NOUN
ajfa-9455	313	5	on	on	ADP
ajfa-9455	313	6	value	value	NOUN
ajfa-9455	313	7	-	-	PUNCT
ajfa-9455	313	8	relevance	relevance	NOUN
ajfa-9455	313	9	of	of	ADP
ajfa-9455	313	10	accounting	accounting	NOUN
ajfa-9455	313	11	information	information	NOUN
ajfa-9455	313	12	:	:	PUNCT
ajfa-9455	313	13	empirical	empirical	ADJ
ajfa-9455	313	14	evidence	evidence	NOUN
ajfa-9455	313	15	from	from	ADP
ajfa-9455	313	16	japan	japan	PROPN
ajfa-9455	313	17	.	.	PUNCT
ajfa-9455	314	1	managerial	managerial	ADJ
ajfa-9455	314	2	finance	finance	NOUN
ajfa-9455	314	3	,	,	PUNCT
ajfa-9455	314	4	30(11	30(11	NUM
ajfa-9455	314	5	)	)	PUNCT
ajfa-9455	314	6	,	,	PUNCT
ajfa-9455	314	7	1–15	1–15	PROPN
ajfa-9455	314	8	.	.	PUNCT
ajfa-9455	315	1	http://dx.doi.org/10.1108/03074350410769344	http://dx.doi.org/10.1108/03074350410769344	PROPN
ajfa-9455	315	2	asian	asian	PROPN
ajfa-9455	315	3	journal	journal	PROPN
ajfa-9455	315	4	of	of	ADP
ajfa-9455	315	5	finance	finance	PROPN
ajfa-9455	315	6	&	&	CCONJ
ajfa-9455	315	7	accounting	accounting	PROPN
ajfa-9455	315	8	issn	issn	PROPN
ajfa-9455	315	9	1946	1946	NUM
ajfa-9455	315	10	-	-	PUNCT
ajfa-9455	315	11	052x	052x	PROPN
ajfa-9455	315	12	2016	2016	NUM
ajfa-9455	315	13	,	,	PUNCT
ajfa-9455	315	14	vol	vol	NOUN
ajfa-9455	315	15	.	.	PROPN
ajfa-9455	315	16	8	8	NUM
ajfa-9455	315	17	,	,	PUNCT
ajfa-9455	315	18	no	no	INTJ
ajfa-9455	315	19	.	.	NOUN
ajfa-9455	315	20	1	1	NUM
ajfa-9455	315	21	ajfa.macrothink.org	ajfa.macrothink.org	PROPN
ajfa-9455	315	22	227	227	NUM
ajfa-9455	315	23	habib	habib	PROPN
ajfa-9455	315	24	,	,	PUNCT
ajfa-9455	315	25	ahsan	ahsan	PROPN
ajfa-9455	315	26	(	(	PUNCT
ajfa-9455	315	27	2010	2010	NUM
ajfa-9455	315	28	)	)	PUNCT
ajfa-9455	315	29	.	.	PUNCT
ajfa-9455	316	1	value	value	NOUN
ajfa-9455	316	2	relevance	relevance	NOUN
ajfa-9455	316	3	of	of	ADP
ajfa-9455	316	4	alternative	alternative	ADJ
ajfa-9455	316	5	accounting	accounting	NOUN
ajfa-9455	316	6	performance	performance	NOUN
ajfa-9455	316	7	measures	measure	NOUN
ajfa-9455	316	8	:	:	PUNCT
ajfa-9455	316	9	australian	australian	ADJ
ajfa-9455	316	10	evidence	evidence	NOUN
ajfa-9455	316	11	.	.	PUNCT
ajfa-9455	317	1	accounting	accounting	NOUN
ajfa-9455	317	2	research	research	PROPN
ajfa-9455	317	3	journal	journal	NOUN
ajfa-9455	317	4	,	,	PUNCT
ajfa-9455	317	5	2	2	NUM
ajfa-9455	317	6	(	(	PUNCT
ajfa-9455	317	7	2	2	NUM
ajfa-9455	317	8	)	)	PUNCT
ajfa-9455	317	9	,	,	PUNCT
ajfa-9455	317	10	190	190	NUM
ajfa-9455	317	11	-	-	SYM
ajfa-9455	317	12	212	212	NUM
ajfa-9455	317	13	.	.	PUNCT
ajfa-9455	318	1	http://dx.doi.org/10.1108/10309611011073269	http://dx.doi.org/10.1108/10309611011073269	PROPN
ajfa-9455	318	2	habib	habib	PROPN
ajfa-9455	318	3	,	,	PUNCT
ajfa-9455	318	4	ahsan	ahsan	PROPN
ajfa-9455	318	5	&	&	CCONJ
ajfa-9455	318	6	azim	azim	PROPN
ajfa-9455	318	7	,	,	PUNCT
ajfa-9455	318	8	istiaq	istiaq	PROPN
ajfa-9455	318	9	(	(	PUNCT
ajfa-9455	318	10	2008	2008	NUM
ajfa-9455	318	11	)	)	PUNCT
ajfa-9455	318	12	.	.	PUNCT
ajfa-9455	319	1	corporate	corporate	ADJ
ajfa-9455	319	2	governance	governance	NOUN
ajfa-9455	319	3	and	and	CCONJ
ajfa-9455	319	4	the	the	DET
ajfa-9455	319	5	value	value	NOUN
ajfa-9455	319	6	-	-	PUNCT
ajfa-9455	319	7	relevance	relevance	NOUN
ajfa-9455	319	8	of	of	ADP
ajfa-9455	319	9	accounting	accounting	NOUN
ajfa-9455	319	10	information	information	NOUN
ajfa-9455	319	11	:	:	PUNCT
ajfa-9455	319	12	evidence	evidence	NOUN
ajfa-9455	319	13	from	from	ADP
ajfa-9455	319	14	australia	australia	PROPN
ajfa-9455	319	15	.	.	PUNCT
ajfa-9455	320	1	accounting	accounting	PROPN
ajfa-9455	320	2	research	research	PROPN
ajfa-9455	320	3	journal	journal	PROPN
ajfa-9455	320	4	,	,	PUNCT
ajfa-9455	320	5	21(2	21(2	NUM
ajfa-9455	320	6	)	)	PUNCT
ajfa-9455	320	7	,	,	PUNCT
ajfa-9455	320	8	167	167	NUM
ajfa-9455	320	9	–	–	SYM
ajfa-9455	320	10	194	194	NUM
ajfa-9455	320	11	.	.	PUNCT
ajfa-9455	321	1	http://dx.doi.org/10.1108/10309610810905944	http://dx.doi.org/10.1108/10309610810905944	PROPN
ajfa-9455	321	2	ho	ho	PROPN
ajfa-9455	321	3	,	,	PUNCT
ajfa-9455	321	4	y.k	y.k	PROPN
ajfa-9455	321	5	.	.	PROPN
ajfa-9455	321	6	,	,	PUNCT
ajfa-9455	321	7	xu	xu	PROPN
ajfa-9455	321	8	,	,	PUNCT
ajfa-9455	321	9	z.	z.	PROPN
ajfa-9455	321	10	,	,	PUNCT
ajfa-9455	321	11	&	&	CCONJ
ajfa-9455	321	12	yap	yap	PROPN
ajfa-9455	321	13	,	,	PUNCT
ajfa-9455	321	14	c.m	c.m	PROPN
ajfa-9455	321	15	.	.	PROPN
ajfa-9455	321	16	(	(	PUNCT
ajfa-9455	321	17	2004	2004	NUM
ajfa-9455	321	18	)	)	PUNCT
ajfa-9455	321	19	.	.	PUNCT
ajfa-9455	322	1	r&d	r&d	NOUN
ajfa-9455	322	2	investment	investment	NOUN
ajfa-9455	322	3	and	and	CCONJ
ajfa-9455	322	4	systematic	systematic	ADJ
ajfa-9455	322	5	risk	risk	NOUN
ajfa-9455	322	6	.	.	PUNCT
ajfa-9455	323	1	accounting	accounting	NOUN
ajfa-9455	323	2	and	and	CCONJ
ajfa-9455	323	3	finance	finance	NOUN
ajfa-9455	323	4	,	,	PUNCT
ajfa-9455	323	5	44	44	NUM
ajfa-9455	323	6	,	,	PUNCT
ajfa-9455	323	7	393	393	NUM
ajfa-9455	323	8	-	-	SYM
ajfa-9455	323	9	418	418	NUM
ajfa-9455	323	10	.	.	PUNCT
ajfa-9455	324	1	http://dx.doi.org/10.1111/j.1467-629x.2004.00116.x	http://dx.doi.org/10.1111/j.1467-629x.2004.00116.x	NOUN
ajfa-9455	324	2	holthausen	holthausen	NOUN
ajfa-9455	324	3	,	,	PUNCT
ajfa-9455	324	4	r.w	r.w	PROPN
ajfa-9455	324	5	.	.	PROPN
ajfa-9455	324	6	,	,	PUNCT
ajfa-9455	324	7	&	&	CCONJ
ajfa-9455	324	8	watts	watts	PROPN
ajfa-9455	324	9	,	,	PUNCT
ajfa-9455	324	10	r.l	r.l	PROPN
ajfa-9455	324	11	.	.	PROPN
ajfa-9455	324	12	(	(	PUNCT
ajfa-9455	324	13	2001	2001	NUM
ajfa-9455	324	14	)	)	PUNCT
ajfa-9455	324	15	.	.	PUNCT
ajfa-9455	325	1	the	the	DET
ajfa-9455	325	2	relevance	relevance	NOUN
ajfa-9455	325	3	of	of	ADP
ajfa-9455	325	4	the	the	DET
ajfa-9455	325	5	value	value	NOUN
ajfa-9455	325	6	-	-	PUNCT
ajfa-9455	325	7	relevance	relevance	NOUN
ajfa-9455	325	8	literature	literature	NOUN
ajfa-9455	325	9	for	for	ADP
ajfa-9455	325	10	financial	financial	ADJ
ajfa-9455	325	11	accounting	accounting	NOUN
ajfa-9455	325	12	standard	standard	PROPN
ajfa-9455	325	13	setting	setting	NOUN
ajfa-9455	325	14	.	.	PUNCT
ajfa-9455	326	1	journal	journal	NOUN
ajfa-9455	326	2	of	of	ADP
ajfa-9455	326	3	accounting	accounting	NOUN
ajfa-9455	326	4	and	and	CCONJ
ajfa-9455	326	5	economics	economic	NOUN
ajfa-9455	326	6	,	,	PUNCT
ajfa-9455	326	7	31(1	31(1	NUM
ajfa-9455	326	8	-	-	SYM
ajfa-9455	326	9	3	3	NUM
ajfa-9455	326	10	)	)	PUNCT
ajfa-9455	326	11	,	,	PUNCT
ajfa-9455	326	12	3–75	3–75	PROPN
ajfa-9455	326	13	.	.	PUNCT
ajfa-9455	327	1	http://dx.doi.org/10.1016/s0165-4101(01)00029-5	http://dx.doi.org/10.1016/s0165-4101(01)00029-5	PROPN
ajfa-9455	327	2	hoskisson	hoskisson	PROPN
ajfa-9455	327	3	,	,	PUNCT
ajfa-9455	327	4	r.e	r.e	PROPN
ajfa-9455	327	5	.	.	PROPN
ajfa-9455	327	6	,	,	PUNCT
ajfa-9455	327	7	eden	eden	PROPN
ajfa-9455	327	8	,	,	PUNCT
ajfa-9455	327	9	l.	l.	PROPN
ajfa-9455	327	10	,	,	PUNCT
ajfa-9455	327	11	lau	lau	PROPN
ajfa-9455	327	12	,	,	PUNCT
ajfa-9455	327	13	c.m	c.m	PROPN
ajfa-9455	327	14	.	.	PROPN
ajfa-9455	327	15	,	,	PUNCT
ajfa-9455	327	16	&	&	CCONJ
ajfa-9455	327	17	wright	wright	PROPN
ajfa-9455	327	18	,	,	PUNCT
ajfa-9455	327	19	m.	m.	NOUN
ajfa-9455	327	20	(	(	PUNCT
ajfa-9455	327	21	2000	2000	NUM
ajfa-9455	327	22	)	)	PUNCT
ajfa-9455	327	23	.	.	PUNCT
ajfa-9455	328	1	strategy	strategy	NOUN
ajfa-9455	328	2	in	in	ADP
ajfa-9455	328	3	emerging	emerge	VERB
ajfa-9455	328	4	economies	economy	NOUN
ajfa-9455	328	5	.	.	PUNCT
ajfa-9455	329	1	academy	academy	PROPN
ajfa-9455	329	2	of	of	ADP
ajfa-9455	329	3	management	management	PROPN
ajfa-9455	329	4	journal	journal	PROPN
ajfa-9455	329	5	,	,	PUNCT
ajfa-9455	329	6	43(3	43(3	NUM
ajfa-9455	329	7	)	)	PUNCT
ajfa-9455	329	8	,	,	PUNCT
ajfa-9455	329	9	249–267	249–267	NUM
ajfa-9455	329	10	.	.	PUNCT
ajfa-9455	330	1	http://dx.doi.org/10.2307/1556394	http://dx.doi.org/10.2307/1556394	PROPN
ajfa-9455	330	2	huffman	huffman	PROPN
ajfa-9455	330	3	,	,	PUNCT
ajfa-9455	330	4	l.	l.	PROPN
ajfa-9455	330	5	(	(	PUNCT
ajfa-9455	330	6	1983	1983	NUM
ajfa-9455	330	7	)	)	PUNCT
ajfa-9455	330	8	.	.	PUNCT
ajfa-9455	331	1	operating	operate	VERB
ajfa-9455	331	2	leverage	leverage	NOUN
ajfa-9455	331	3	,	,	PUNCT
ajfa-9455	331	4	financial	financial	ADJ
ajfa-9455	331	5	leverage	leverage	NOUN
ajfa-9455	331	6	,	,	PUNCT
ajfa-9455	331	7	and	and	CCONJ
ajfa-9455	331	8	equity	equity	NOUN
ajfa-9455	331	9	risk	risk	NOUN
ajfa-9455	331	10	.	.	PUNCT
ajfa-9455	332	1	journal	journal	NOUN
ajfa-9455	332	2	of	of	ADP
ajfa-9455	332	3	banking	banking	NOUN
ajfa-9455	332	4	and	and	CCONJ
ajfa-9455	332	5	finance	finance	NOUN
ajfa-9455	332	6	,	,	PUNCT
ajfa-9455	332	7	7	7	NUM
ajfa-9455	332	8	,	,	PUNCT
ajfa-9455	332	9	197	197	NUM
ajfa-9455	332	10	-	-	SYM
ajfa-9455	332	11	212	212	NUM
ajfa-9455	332	12	.	.	PUNCT
ajfa-9455	333	1	http://dx.doi.org/10.1016/0378-4266(83)90032-8	http://dx.doi.org/10.1016/0378-4266(83)90032-8	PROPN
ajfa-9455	333	2	huffman	huffman	PROPN
ajfa-9455	333	3	,	,	PUNCT
ajfa-9455	333	4	stephen	stephen	PROPN
ajfa-9455	333	5	p.	p.	PROPN
ajfa-9455	333	6	(	(	PUNCT
ajfa-9455	333	7	1989	1989	NUM
ajfa-9455	333	8	)	)	PUNCT
ajfa-9455	333	9	.	.	PUNCT
ajfa-9455	334	1	the	the	DET
ajfa-9455	334	2	impact	impact	NOUN
ajfa-9455	334	3	of	of	ADP
ajfa-9455	334	4	the	the	DET
ajfa-9455	334	5	degree	degree	NOUN
ajfa-9455	334	6	of	of	ADP
ajfa-9455	334	7	operating	operating	NOUN
ajfa-9455	334	8	and	and	CCONJ
ajfa-9455	334	9	financial	financial	ADJ
ajfa-9455	334	10	leverage	leverage	NOUN
ajfa-9455	334	11	on	on	ADP
ajfa-9455	334	12	the	the	DET
ajfa-9455	334	13	systematic	systematic	ADJ
ajfa-9455	334	14	risk	risk	NOUN
ajfa-9455	334	15	of	of	ADP
ajfa-9455	334	16	common	common	ADJ
ajfa-9455	334	17	stocks	stock	NOUN
ajfa-9455	334	18	:	:	PUNCT
ajfa-9455	334	19	another	another	DET
ajfa-9455	334	20	look	look	NOUN
ajfa-9455	334	21	.	.	PUNCT
ajfa-9455	335	1	quarterly	quarterly	ADJ
ajfa-9455	335	2	journal	journal	NOUN
ajfa-9455	335	3	of	of	ADP
ajfa-9455	335	4	business	business	NOUN
ajfa-9455	335	5	and	and	CCONJ
ajfa-9455	335	6	economics	economic	NOUN
ajfa-9455	335	7	,	,	PUNCT
ajfa-9455	335	8	28(1	28(1	NOUN
ajfa-9455	335	9	)	)	PUNCT
ajfa-9455	335	10	,	,	PUNCT
ajfa-9455	335	11	83	83	NUM
ajfa-9455	335	12	-	-	SYM
ajfa-9455	335	13	100	100	NUM
ajfa-9455	335	14	.	.	PUNCT
ajfa-9455	336	1	hughes	hughes	PROPN
ajfa-9455	336	2	,	,	PUNCT
ajfa-9455	336	3	j.	j.	PROPN
ajfa-9455	336	4	,	,	PUNCT
ajfa-9455	336	5	&	&	CCONJ
ajfa-9455	336	6	ricks	ricks	PROPN
ajfa-9455	336	7	,	,	PUNCT
ajfa-9455	336	8	w.	w.	PROPN
ajfa-9455	336	9	(	(	PUNCT
ajfa-9455	336	10	1984	1984	NUM
ajfa-9455	336	11	)	)	PUNCT
ajfa-9455	336	12	.	.	PUNCT
ajfa-9455	337	1	accounting	account	VERB
ajfa-9455	337	2	for	for	ADP
ajfa-9455	337	3	retail	retail	ADJ
ajfa-9455	337	4	land	land	NOUN
ajfa-9455	337	5	sales	sale	NOUN
ajfa-9455	337	6	:	:	PUNCT
ajfa-9455	337	7	analysis	analysis	NOUN
ajfa-9455	337	8	of	of	ADP
ajfa-9455	337	9	a	a	DET
ajfa-9455	337	10	mandated	mandate	VERB
ajfa-9455	337	11	change	change	NOUN
ajfa-9455	337	12	.	.	PUNCT
ajfa-9455	338	1	journal	journal	NOUN
ajfa-9455	338	2	of	of	ADP
ajfa-9455	338	3	accounting	accounting	NOUN
ajfa-9455	338	4	and	and	CCONJ
ajfa-9455	338	5	economics	economic	NOUN
ajfa-9455	338	6	,	,	PUNCT
ajfa-9455	338	7	6(1	6(1	NUM
ajfa-9455	338	8	)	)	PUNCT
ajfa-9455	338	9	,	,	PUNCT
ajfa-9455	338	10	101	101	NUM
ajfa-9455	338	11	-	-	SYM
ajfa-9455	338	12	132	132	NUM
ajfa-9455	338	13	.	.	PUNCT
ajfa-9455	339	1	http://dx.doi.org/10.1016/0165-4101(84)90009-0	http://dx.doi.org/10.1016/0165-4101(84)90009-0	PROPN
ajfa-9455	339	2	international	international	ADJ
ajfa-9455	339	3	equity	equity	NOUN
ajfa-9455	339	4	markets	market	NOUN
ajfa-9455	339	5	.	.	PUNCT
ajfa-9455	340	1	chapter	chapter	NOUN
ajfa-9455	340	2	ix	ix	PROPN
ajfa-9455	340	3	,	,	PUNCT
ajfa-9455	340	4	retrieve	retrieve	VERB
ajfa-9455	340	5	from	from	ADP
ajfa-9455	340	6	http://www.bauer.uh.edu/rsusmel/7386/ln9.pdf	http://www.bauer.uh.edu/rsusmel/7386/ln9.pdf	PROPN
ajfa-9455	340	7	(	(	PUNCT
ajfa-9455	340	8	accessed	access	VERB
ajfa-9455	340	9	25	25	NUM
ajfa-9455	340	10	july	july	PROPN
ajfa-9455	340	11	2015	2015	NUM
ajfa-9455	340	12	)	)	PUNCT
ajfa-9455	340	13	.	.	PUNCT
ajfa-9455	341	1	jensen	jensen	PROPN
ajfa-9455	341	2	,	,	PUNCT
ajfa-9455	341	3	m.	m.	NOUN
ajfa-9455	341	4	,	,	PUNCT
ajfa-9455	341	5	&	&	CCONJ
ajfa-9455	341	6	meckling	meckling	PROPN
ajfa-9455	341	7	,	,	PUNCT
ajfa-9455	341	8	w.	w.	PROPN
ajfa-9455	341	9	(	(	PUNCT
ajfa-9455	341	10	1978	1978	NUM
ajfa-9455	341	11	)	)	PUNCT
ajfa-9455	341	12	.	.	PUNCT
ajfa-9455	342	1	can	can	AUX
ajfa-9455	342	2	the	the	DET
ajfa-9455	342	3	corporation	corporation	NOUN
ajfa-9455	342	4	survive	survive	VERB
ajfa-9455	342	5	?	?	PUNCT
ajfa-9455	343	1	financial	financial	ADJ
ajfa-9455	343	2	analyst	analyst	NOUN
ajfa-9455	343	3	journal	journal	NOUN
ajfa-9455	343	4	,	,	PUNCT
ajfa-9455	343	5	34(1	34(1	NUM
ajfa-9455	343	6	)	)	PUNCT
ajfa-9455	343	7	,	,	PUNCT
ajfa-9455	343	8	31	31	NUM
ajfa-9455	343	9	-	-	SYM
ajfa-9455	343	10	37	37	NUM
ajfa-9455	343	11	.	.	PUNCT
ajfa-9455	344	1	http://dx.doi.org/10.2469/faj.v34.n1.31	http://dx.doi.org/10.2469/faj.v34.n1.31	PROPN
ajfa-9455	344	2	kale	kale	PROPN
ajfa-9455	344	3	,	,	PUNCT
ajfa-9455	344	4	j.r	j.r	PROPN
ajfa-9455	344	5	.	.	PROPN
ajfa-9455	344	6	,	,	PUNCT
ajfa-9455	344	7	noe	noe	PROPN
ajfa-9455	344	8	,	,	PUNCT
ajfa-9455	344	9	t.h	t.h	PROPN
ajfa-9455	344	10	.	.	PROPN
ajfa-9455	344	11	,	,	PUNCT
ajfa-9455	344	12	&	&	CCONJ
ajfa-9455	344	13	ramirez	ramirez	PROPN
ajfa-9455	344	14	,	,	PUNCT
ajfa-9455	344	15	g.g	g.g	PROPN
ajfa-9455	344	16	.	.	PROPN
ajfa-9455	344	17	(	(	PUNCT
ajfa-9455	344	18	1991	1991	NUM
ajfa-9455	344	19	)	)	PUNCT
ajfa-9455	344	20	.	.	PUNCT
ajfa-9455	345	1	the	the	DET
ajfa-9455	345	2	effect	effect	NOUN
ajfa-9455	345	3	of	of	ADP
ajfa-9455	345	4	business	business	NOUN
ajfa-9455	345	5	risk	risk	NOUN
ajfa-9455	345	6	on	on	ADP
ajfa-9455	345	7	corporate	corporate	ADJ
ajfa-9455	345	8	capital	capital	NOUN
ajfa-9455	345	9	structure	structure	NOUN
ajfa-9455	345	10	:	:	PUNCT
ajfa-9455	345	11	theory	theory	NOUN
ajfa-9455	345	12	and	and	CCONJ
ajfa-9455	345	13	evidence	evidence	NOUN
ajfa-9455	345	14	.	.	PUNCT
ajfa-9455	346	1	journal	journal	NOUN
ajfa-9455	346	2	of	of	ADP
ajfa-9455	346	3	finance	finance	NOUN
ajfa-9455	346	4	,	,	PUNCT
ajfa-9455	346	5	46	46	NUM
ajfa-9455	346	6	,	,	PUNCT
ajfa-9455	346	7	1693	1693	NUM
ajfa-9455	346	8	-	-	SYM
ajfa-9455	346	9	1715	1715	NUM
ajfa-9455	346	10	.	.	PUNCT
ajfa-9455	347	1	http://dx.doi.org/10.1111/j.1540-6261.1991.tb04640.x	http://dx.doi.org/10.1111/j.1540-6261.1991.tb04640.x	PROPN
ajfa-9455	347	2	khanna	khanna	PROPN
ajfa-9455	347	3	,	,	PUNCT
ajfa-9455	347	4	t.	t.	PROPN
ajfa-9455	347	5	,	,	PUNCT
ajfa-9455	347	6	&	&	CCONJ
ajfa-9455	347	7	palepu	palepu	PROPN
ajfa-9455	347	8	,	,	PUNCT
ajfa-9455	347	9	k.	k.	PROPN
ajfa-9455	347	10	(	(	PUNCT
ajfa-9455	347	11	1999	1999	NUM
ajfa-9455	347	12	)	)	PUNCT
ajfa-9455	347	13	.	.	PUNCT
ajfa-9455	348	1	emerging	emerge	VERB
ajfa-9455	348	2	market	market	NOUN
ajfa-9455	348	3	business	business	NOUN
ajfa-9455	348	4	groups	group	NOUN
ajfa-9455	348	5	,	,	PUNCT
ajfa-9455	348	6	foreign	foreign	ADJ
ajfa-9455	348	7	investors	investor	NOUN
ajfa-9455	348	8	and	and	CCONJ
ajfa-9455	348	9	corporate	corporate	ADJ
ajfa-9455	348	10	governance	governance	NOUN
ajfa-9455	348	11	.	.	PUNCT
ajfa-9455	349	1	nber	nber	PROPN
ajfa-9455	349	2	working	working	PROPN
ajfa-9455	349	3	paper	paper	PROPN
ajfa-9455	349	4	series	series	NOUN
ajfa-9455	349	5	,	,	PUNCT
ajfa-9455	349	6	working	work	VERB
ajfa-9455	349	7	paper	paper	NOUN
ajfa-9455	349	8	6955	6955	NUM
ajfa-9455	349	9	.	.	PUNCT
ajfa-9455	350	1	http://www.nber.org/papers/w6955.pdf	http://www.nber.org/papers/w6955.pdf	PROPN
ajfa-9455	350	2	lee	lee	PROPN
ajfa-9455	350	3	,	,	PUNCT
ajfa-9455	350	4	n.	n.	PROPN
ajfa-9455	350	5	,	,	PUNCT
ajfa-9455	350	6	&	&	CCONJ
ajfa-9455	350	7	swenson	swenson	PROPN
ajfa-9455	350	8	,	,	PUNCT
ajfa-9455	350	9	c.	c.	PROPN
ajfa-9455	350	10	(	(	PUNCT
ajfa-9455	350	11	2012	2012	NUM
ajfa-9455	350	12	)	)	PUNCT
ajfa-9455	350	13	.	.	PUNCT
ajfa-9455	350	14	are	be	AUX
ajfa-9455	350	15	multinational	multinational	ADJ
ajfa-9455	350	16	corporate	corporate	ADJ
ajfa-9455	350	17	tax	tax	NOUN
ajfa-9455	350	18	rules	rule	NOUN
ajfa-9455	350	19	as	as	ADV
ajfa-9455	350	20	important	important	ADJ
ajfa-9455	350	21	as	as	ADP
ajfa-9455	350	22	tax	tax	NOUN
ajfa-9455	350	23	rates	rate	NOUN
ajfa-9455	350	24	?	?	PUNCT
ajfa-9455	351	1	the	the	DET
ajfa-9455	351	2	international	international	ADJ
ajfa-9455	351	3	journal	journal	NOUN
ajfa-9455	351	4	of	of	ADP
ajfa-9455	351	5	accounting	accounting	PROPN
ajfa-9455	351	6	,	,	PUNCT
ajfa-9455	351	7	47(2	47(2	PROPN
ajfa-9455	351	8	)	)	PUNCT
ajfa-9455	351	9	,	,	PUNCT
ajfa-9455	351	10	155–167	155–167	NUM
ajfa-9455	351	11	.	.	PUNCT
ajfa-9455	352	1	http://dx.doi.org/10.1016/j.intacc.2012.03.001	http://dx.doi.org/10.1016/j.intacc.2012.03.001	PROPN
ajfa-9455	352	2	lie	lie	NOUN
ajfa-9455	352	3	,	,	PUNCT
ajfa-9455	352	4	e.	e.	PROPN
ajfa-9455	352	5	,	,	PUNCT
ajfa-9455	352	6	&	&	CCONJ
ajfa-9455	352	7	lie	lie	PROPN
ajfa-9455	352	8	,	,	PUNCT
ajfa-9455	352	9	h.j	h.j	PROPN
ajfa-9455	352	10	.	.	PROPN
ajfa-9455	352	11	(	(	PUNCT
ajfa-9455	352	12	2002	2002	NUM
ajfa-9455	352	13	)	)	PUNCT
ajfa-9455	352	14	.	.	PUNCT
ajfa-9455	353	1	multiples	multiple	NOUN
ajfa-9455	353	2	used	use	VERB
ajfa-9455	353	3	to	to	PART
ajfa-9455	353	4	estimate	estimate	VERB
ajfa-9455	353	5	corporate	corporate	ADJ
ajfa-9455	353	6	value	value	NOUN
ajfa-9455	353	7	.	.	PUNCT
ajfa-9455	354	1	financial	financial	ADJ
ajfa-9455	354	2	analysts	analyst	NOUN
ajfa-9455	354	3	journal	journal	NOUN
ajfa-9455	354	4	,	,	PUNCT
ajfa-9455	354	5	58(2	58(2	NUM
ajfa-9455	354	6	)	)	PUNCT
ajfa-9455	354	7	,	,	PUNCT
ajfa-9455	354	8	44	44	NUM
ajfa-9455	354	9	-	-	SYM
ajfa-9455	354	10	54	54	NUM
ajfa-9455	354	11	.	.	PUNCT
ajfa-9455	355	1	http://dx.doi.org/10.2469/faj.v58.n2.2522	http://dx.doi.org/10.2469/faj.v58.n2.2522	PRON
ajfa-9455	355	2	asian	asian	ADJ
ajfa-9455	355	3	journal	journal	NOUN
ajfa-9455	355	4	of	of	ADP
ajfa-9455	355	5	finance	finance	PROPN
ajfa-9455	355	6	&	&	CCONJ
ajfa-9455	355	7	accounting	accounting	PROPN
ajfa-9455	355	8	issn	issn	PROPN
ajfa-9455	355	9	1946	1946	NUM
ajfa-9455	355	10	-	-	PUNCT
ajfa-9455	355	11	052x	052x	PROPN
ajfa-9455	355	12	2016	2016	NUM
ajfa-9455	355	13	,	,	PUNCT
ajfa-9455	355	14	vol	vol	NOUN
ajfa-9455	355	15	.	.	PROPN
ajfa-9455	355	16	8	8	NUM
ajfa-9455	355	17	,	,	PUNCT
ajfa-9455	355	18	no	no	INTJ
ajfa-9455	355	19	.	.	NOUN
ajfa-9455	355	20	1	1	NUM
ajfa-9455	355	21	ajfa.macrothink.org	ajfa.macrothink.org	PROPN
ajfa-9455	355	22	228	228	NUM
ajfa-9455	355	23	mandelker	mandelker	NOUN
ajfa-9455	355	24	,	,	PUNCT
ajfa-9455	355	25	g.n	g.n	PROPN
ajfa-9455	355	26	.	.	PROPN
ajfa-9455	355	27	,	,	PUNCT
ajfa-9455	355	28	&	&	CCONJ
ajfa-9455	355	29	rhee	rhee	PROPN
ajfa-9455	355	30	,	,	PUNCT
ajfa-9455	355	31	s.g	s.g	PROPN
ajfa-9455	355	32	.	.	PROPN
ajfa-9455	355	33	(	(	PUNCT
ajfa-9455	355	34	1984	1984	NUM
ajfa-9455	355	35	)	)	PUNCT
ajfa-9455	355	36	.	.	PUNCT
ajfa-9455	356	1	the	the	DET
ajfa-9455	356	2	impact	impact	NOUN
ajfa-9455	356	3	of	of	ADP
ajfa-9455	356	4	the	the	DET
ajfa-9455	356	5	degrees	degree	NOUN
ajfa-9455	356	6	of	of	ADP
ajfa-9455	356	7	operating	operating	NOUN
ajfa-9455	356	8	and	and	CCONJ
ajfa-9455	356	9	financial	financial	ADJ
ajfa-9455	356	10	leverage	leverage	NOUN
ajfa-9455	356	11	on	on	ADP
ajfa-9455	356	12	systematic	systematic	ADJ
ajfa-9455	356	13	risk	risk	NOUN
ajfa-9455	356	14	of	of	ADP
ajfa-9455	356	15	common	common	ADJ
ajfa-9455	356	16	stock	stock	NOUN
ajfa-9455	356	17	.	.	PUNCT
ajfa-9455	357	1	journal	journal	PROPN
ajfa-9455	357	2	of	of	ADP
ajfa-9455	357	3	financial	financial	ADJ
ajfa-9455	357	4	and	and	CCONJ
ajfa-9455	357	5	quantitative	quantitative	ADJ
ajfa-9455	357	6	analysis	analysis	NOUN
ajfa-9455	357	7	,	,	PUNCT
ajfa-9455	357	8	19(1	19(1	NUM
ajfa-9455	357	9	)	)	PUNCT
ajfa-9455	357	10	,	,	PUNCT
ajfa-9455	357	11	45–57	45–57	NUM
ajfa-9455	357	12	.	.	PUNCT
ajfa-9455	358	1	http://dx.doi.org/10.4337/9781781009147.00028	http://dx.doi.org/10.4337/9781781009147.00028	ADJ
ajfa-9455	358	2	merchant	merchant	NOUN
ajfa-9455	358	3	,	,	PUNCT
ajfa-9455	358	4	h.	h.	PROPN
ajfa-9455	358	5	,	,	PUNCT
ajfa-9455	358	6	&	&	CCONJ
ajfa-9455	358	7	allen	allen	PROPN
ajfa-9455	358	8	-	-	PUNCT
ajfa-9455	358	9	ford	ford	PROPN
ajfa-9455	358	10	,	,	PUNCT
ajfa-9455	358	11	l.	l.	PROPN
ajfa-9455	358	12	(	(	PUNCT
ajfa-9455	358	13	2012	2012	NUM
ajfa-9455	358	14	)	)	PUNCT
ajfa-9455	358	15	.	.	PUNCT
ajfa-9455	359	1	management	management	NOUN
ajfa-9455	359	2	research	research	NOUN
ajfa-9455	359	3	on	on	ADP
ajfa-9455	359	4	emerging	emerge	VERB
ajfa-9455	359	5	markets	market	NOUN
ajfa-9455	359	6	:	:	PUNCT
ajfa-9455	359	7	existing	exist	VERB
ajfa-9455	359	8	trends	trend	NOUN
ajfa-9455	359	9	and	and	CCONJ
ajfa-9455	359	10	future	future	ADJ
ajfa-9455	359	11	opportunities	opportunity	NOUN
ajfa-9455	359	12	.	.	PUNCT
ajfa-9455	360	1	in	in	ADP
ajfa-9455	360	2	verbeke	verbeke	ADJ
ajfa-9455	360	3	,	,	PUNCT
ajfa-9455	360	4	a.	a.	NOUN
ajfa-9455	360	5	and	and	CCONJ
ajfa-9455	360	6	merchant	merchant	NOUN
ajfa-9455	360	7	,	,	PUNCT
ajfa-9455	360	8	h.	h.	PROPN
ajfa-9455	360	9	(	(	PUNCT
ajfa-9455	360	10	eds	eds	PROPN
ajfa-9455	360	11	.	.	PUNCT
ajfa-9455	360	12	)	)	PUNCT
ajfa-9455	360	13	,	,	PUNCT
ajfa-9455	360	14	handbook	handbook	NOUN
ajfa-9455	360	15	of	of	ADP
ajfa-9455	360	16	research	research	NOUN
ajfa-9455	360	17	on	on	ADP
ajfa-9455	360	18	international	international	ADJ
ajfa-9455	360	19	strategic	strategic	ADJ
ajfa-9455	360	20	management	management	NOUN
ajfa-9455	360	21	(	(	PUNCT
ajfa-9455	360	22	pp.363–387	pp.363–387	NOUN
ajfa-9455	360	23	)	)	PUNCT
ajfa-9455	360	24	.	.	PUNCT
ajfa-9455	361	1	london	london	PROPN
ajfa-9455	361	2	,	,	PUNCT
ajfa-9455	361	3	uk	uk	PROPN
ajfa-9455	361	4	:	:	PUNCT
ajfa-9455	361	5	edward	edward	PROPN
ajfa-9455	361	6	elgar	elgar	PROPN
ajfa-9455	361	7	publishing	publishing	PROPN
ajfa-9455	361	8	.	.	PUNCT
ajfa-9455	362	1	modigliani	modigliani	PROPN
ajfa-9455	362	2	,	,	PUNCT
ajfa-9455	362	3	franco	franco	PROPN
ajfa-9455	362	4	&	&	CCONJ
ajfa-9455	362	5	miller	miller	PROPN
ajfa-9455	362	6	,	,	PUNCT
ajfa-9455	362	7	merton	merton	PROPN
ajfa-9455	362	8	h.	h.	PROPN
ajfa-9455	362	9	(	(	PUNCT
ajfa-9455	362	10	1958	1958	NUM
ajfa-9455	362	11	)	)	PUNCT
ajfa-9455	362	12	.	.	PUNCT
ajfa-9455	363	1	the	the	DET
ajfa-9455	363	2	cost	cost	NOUN
ajfa-9455	363	3	of	of	ADP
ajfa-9455	363	4	capital	capital	NOUN
ajfa-9455	363	5	,	,	PUNCT
ajfa-9455	363	6	corporation	corporation	NOUN
ajfa-9455	363	7	finance	finance	NOUN
ajfa-9455	363	8	and	and	CCONJ
ajfa-9455	363	9	the	the	DET
ajfa-9455	363	10	theory	theory	NOUN
ajfa-9455	363	11	of	of	ADP
ajfa-9455	363	12	investment	investment	NOUN
ajfa-9455	363	13	.	.	PUNCT
ajfa-9455	364	1	the	the	DET
ajfa-9455	364	2	american	american	PROPN
ajfa-9455	364	3	economic	economic	PROPN
ajfa-9455	364	4	review	review	PROPN
ajfa-9455	364	5	,	,	PUNCT
ajfa-9455	364	6	48(3	48(3	PROPN
ajfa-9455	364	7	)	)	PUNCT
ajfa-9455	364	8	,	,	PUNCT
ajfa-9455	364	9	261	261	NUM
ajfa-9455	364	10	-	-	SYM
ajfa-9455	364	11	297	297	NUM
ajfa-9455	364	12	.	.	PUNCT
ajfa-9455	365	1	nishat	nishat	PROPN
ajfa-9455	365	2	,	,	PUNCT
ajfa-9455	365	3	m.	m.	NOUN
ajfa-9455	365	4	(	(	PUNCT
ajfa-9455	365	5	2000	2000	NUM
ajfa-9455	365	6	)	)	PUNCT
ajfa-9455	365	7	.	.	PUNCT
ajfa-9455	366	1	the	the	DET
ajfa-9455	366	2	systematic	systematic	ADJ
ajfa-9455	366	3	risk	risk	NOUN
ajfa-9455	366	4	and	and	CCONJ
ajfa-9455	366	5	leverage	leverage	NOUN
ajfa-9455	366	6	effect	effect	NOUN
ajfa-9455	366	7	in	in	ADP
ajfa-9455	366	8	the	the	DET
ajfa-9455	366	9	corporate	corporate	ADJ
ajfa-9455	366	10	sector	sector	NOUN
ajfa-9455	366	11	of	of	ADP
ajfa-9455	366	12	pakistan	pakistan	PROPN
ajfa-9455	366	13	.	.	PUNCT
ajfa-9455	367	1	the	the	DET
ajfa-9455	367	2	pakistan	pakistan	PROPN
ajfa-9455	367	3	development	development	PROPN
ajfa-9455	367	4	review	review	PROPN
ajfa-9455	367	5	,	,	PUNCT
ajfa-9455	367	6	39(4	39(4	NOUN
ajfa-9455	367	7	)	)	PUNCT
ajfa-9455	367	8	,	,	PUNCT
ajfa-9455	367	9	951–962	951–962	NUM
ajfa-9455	367	10	.	.	PUNCT
ajfa-9455	367	11	papadaki	papadaki	PROPN
ajfa-9455	367	12	,	,	PUNCT
ajfa-9455	367	13	p.	p.	NOUN
ajfa-9455	367	14	,	,	PUNCT
ajfa-9455	367	15	&	&	CCONJ
ajfa-9455	367	16	siougle	siougle	PROPN
ajfa-9455	367	17	,	,	PUNCT
ajfa-9455	367	18	g.	g.	PROPN
ajfa-9455	367	19	(	(	PUNCT
ajfa-9455	367	20	2007	2007	NUM
ajfa-9455	367	21	)	)	PUNCT
ajfa-9455	367	22	.	.	PUNCT
ajfa-9455	368	1	value	value	NOUN
ajfa-9455	368	2	relevance	relevance	NOUN
ajfa-9455	368	3	of	of	ADP
ajfa-9455	368	4	price	price	NOUN
ajfa-9455	368	5	,	,	PUNCT
ajfa-9455	368	6	earnings	earning	NOUN
ajfa-9455	368	7	and	and	CCONJ
ajfa-9455	368	8	book	book	NOUN
ajfa-9455	368	9	values	value	NOUN
ajfa-9455	368	10	in	in	ADP
ajfa-9455	368	11	the	the	DET
ajfa-9455	368	12	athens	athens	PROPN
ajfa-9455	368	13	stock	stock	PROPN
ajfa-9455	368	14	exchange	exchange	PROPN
ajfa-9455	368	15	.	.	PUNCT
ajfa-9455	369	1	managerial	managerial	ADJ
ajfa-9455	369	2	finance	finance	NOUN
ajfa-9455	369	3	,	,	PUNCT
ajfa-9455	369	4	33(5	33(5	NUM
ajfa-9455	369	5	)	)	PUNCT
ajfa-9455	369	6	,	,	PUNCT
ajfa-9455	369	7	309–320	309–320	NUM
ajfa-9455	369	8	.	.	PUNCT
ajfa-9455	369	9	http://dx.doi.org/10.1108/03074350710739597	http://dx.doi.org/10.1108/03074350710739597	PROPN
ajfa-9455	369	10	pari	pari	PROPN
ajfa-9455	369	11	,	,	PUNCT
ajfa-9455	369	12	r.	r.	PROPN
ajfa-9455	369	13	,	,	PUNCT
ajfa-9455	369	14	carvell	carvell	PROPN
ajfa-9455	369	15	,	,	PUNCT
ajfa-9455	369	16	s.	s.	PROPN
ajfa-9455	369	17	,	,	PUNCT
ajfa-9455	369	18	&	&	CCONJ
ajfa-9455	369	19	sullivan	sullivan	PROPN
ajfa-9455	369	20	,	,	PUNCT
ajfa-9455	369	21	t.	t.	PROPN
ajfa-9455	369	22	(	(	PUNCT
ajfa-9455	369	23	1989	1989	NUM
ajfa-9455	369	24	)	)	PUNCT
ajfa-9455	369	25	.	.	PUNCT
ajfa-9455	370	1	analyst	analyst	NOUN
ajfa-9455	370	2	forecasts	forecast	NOUN
ajfa-9455	370	3	and	and	CCONJ
ajfa-9455	370	4	price	price	NOUN
ajfa-9455	370	5	-	-	PUNCT
ajfa-9455	370	6	earnings	earning	NOUN
ajfa-9455	370	7	ratios	ratio	NOUN
ajfa-9455	370	8	.	.	PUNCT
ajfa-9455	371	1	http://dx.doi.org/10.2469/faj.v45.n2.60	http://dx.doi.org/10.2469/faj.v45.n2.60	PROPN
ajfa-9455	371	2	prezas	preza	VERB
ajfa-9455	371	3	,	,	PUNCT
ajfa-9455	371	4	a.	a.	NOUN
ajfa-9455	371	5	p.	p.	NOUN
ajfa-9455	371	6	(	(	PUNCT
ajfa-9455	371	7	1987	1987	NUM
ajfa-9455	371	8	)	)	PUNCT
ajfa-9455	371	9	.	.	PUNCT
ajfa-9455	372	1	effects	effect	NOUN
ajfa-9455	372	2	of	of	ADP
ajfa-9455	372	3	debt	debt	NOUN
ajfa-9455	372	4	on	on	ADP
ajfa-9455	372	5	the	the	DET
ajfa-9455	372	6	degrees	degree	NOUN
ajfa-9455	372	7	of	of	ADP
ajfa-9455	372	8	operating	operating	NOUN
ajfa-9455	372	9	and	and	CCONJ
ajfa-9455	372	10	financial	financial	ADJ
ajfa-9455	372	11	leverage	leverage	NOUN
ajfa-9455	372	12	.	.	PUNCT
ajfa-9455	373	1	financial	financial	ADJ
ajfa-9455	373	2	management	management	NOUN
ajfa-9455	373	3	,	,	PUNCT
ajfa-9455	373	4	16(2	16(2	NUM
ajfa-9455	373	5	)	)	PUNCT
ajfa-9455	373	6	,	,	PUNCT
ajfa-9455	373	7	39–44	39–44	NUM
ajfa-9455	373	8	.	.	PUNCT
ajfa-9455	374	1	monetary	monetary	ADJ
ajfa-9455	374	2	policies	policy	NOUN
ajfa-9455	374	3	on	on	ADP
ajfa-9455	374	4	the	the	DET
ajfa-9455	374	5	performance	performance	NOUN
ajfa-9455	374	6	of	of	ADP
ajfa-9455	374	7	the	the	DET
ajfa-9455	374	8	nigerian	nigerian	ADJ
ajfa-9455	374	9	manufacturing	manufacturing	NOUN
ajfa-9455	374	10	companies	company	NOUN
ajfa-9455	374	11	during	during	ADP
ajfa-9455	374	12	the	the	DET
ajfa-9455	374	13	period	period	NOUN
ajfa-9455	374	14	1986	1986	NUM
ajfa-9455	374	15	-	-	SYM
ajfa-9455	374	16	2012	2012	NUM
ajfa-9455	374	17	sarkar	sarkar	NOUN
ajfa-9455	374	18	,	,	PUNCT
ajfa-9455	374	19	j.	j.	PROPN
ajfa-9455	374	20	,	,	PUNCT
ajfa-9455	374	21	&	&	CCONJ
ajfa-9455	374	22	sarkar	sarkar	PROPN
ajfa-9455	374	23	,	,	PUNCT
ajfa-9455	374	24	s.	s.	PROPN
ajfa-9455	374	25	(	(	PUNCT
ajfa-9455	374	26	2000	2000	NUM
ajfa-9455	374	27	)	)	PUNCT
ajfa-9455	374	28	.	.	PUNCT
ajfa-9455	375	1	large	large	ADJ
ajfa-9455	375	2	shareholder	shareholder	NOUN
ajfa-9455	375	3	activism	activism	NOUN
ajfa-9455	375	4	in	in	ADP
ajfa-9455	375	5	corporate	corporate	ADJ
ajfa-9455	375	6	governance	governance	NOUN
ajfa-9455	375	7	in	in	ADP
ajfa-9455	375	8	developing	develop	VERB
ajfa-9455	375	9	countries	country	NOUN
ajfa-9455	375	10	:	:	PUNCT
ajfa-9455	375	11	evidence	evidence	NOUN
ajfa-9455	375	12	from	from	ADP
ajfa-9455	375	13	india	india	PROPN
ajfa-9455	375	14	.	.	PUNCT
ajfa-9455	376	1	international	international	ADJ
ajfa-9455	376	2	review	review	NOUN
ajfa-9455	376	3	of	of	ADP
ajfa-9455	376	4	finance	finance	NOUN
ajfa-9455	376	5	,	,	PUNCT
ajfa-9455	376	6	1(3	1(3	NUM
ajfa-9455	376	7	)	)	PUNCT
ajfa-9455	376	8	,	,	PUNCT
ajfa-9455	376	9	161–194	161–194	NUM
ajfa-9455	376	10	.	.	PUNCT
ajfa-9455	377	1	http://dx.doi.org/10.1111/1468-2443.00010	http://dx.doi.org/10.1111/1468-2443.00010	PROPN
ajfa-9455	377	2	sarkar	sarkar	PROPN
ajfa-9455	377	3	,	,	PUNCT
ajfa-9455	377	4	j.	j.	PROPN
ajfa-9455	377	5	,	,	PUNCT
ajfa-9455	377	6	sarkar	sarkar	PROPN
ajfa-9455	377	7	,	,	PUNCT
ajfa-9455	377	8	s.	s.	PROPN
ajfa-9455	377	9	,	,	PUNCT
ajfa-9455	377	10	&	&	CCONJ
ajfa-9455	377	11	sen	sen	PROPN
ajfa-9455	377	12	,	,	PUNCT
ajfa-9455	377	13	k.	k.	PROPN
ajfa-9455	377	14	(	(	PUNCT
ajfa-9455	377	15	2008	2008	NUM
ajfa-9455	377	16	)	)	PUNCT
ajfa-9455	377	17	.	.	PUNCT
ajfa-9455	378	1	board	board	NOUN
ajfa-9455	378	2	of	of	ADP
ajfa-9455	378	3	directors	director	NOUN
ajfa-9455	378	4	and	and	CCONJ
ajfa-9455	378	5	opportunistic	opportunistic	ADJ
ajfa-9455	378	6	earnings	earning	NOUN
ajfa-9455	378	7	management	management	NOUN
ajfa-9455	378	8	:	:	PUNCT
ajfa-9455	378	9	evidence	evidence	NOUN
ajfa-9455	378	10	from	from	ADP
ajfa-9455	378	11	india	india	PROPN
ajfa-9455	378	12	.	.	PUNCT
ajfa-9455	378	13	journal	journal	PROPN
ajfa-9455	378	14	of	of	ADP
ajfa-9455	378	15	accounting	accounting	NOUN
ajfa-9455	378	16	,	,	PUNCT
ajfa-9455	378	17	auditing	auditing	NOUN
ajfa-9455	378	18	and	and	CCONJ
ajfa-9455	378	19	finance	finance	NOUN
ajfa-9455	378	20	,	,	PUNCT
ajfa-9455	378	21	23(4	23(4	NOUN
ajfa-9455	378	22	)	)	PUNCT
ajfa-9455	378	23	,	,	PUNCT
ajfa-9455	378	24	517	517	NUM
ajfa-9455	378	25	-	-	SYM
ajfa-9455	378	26	551	551	NUM
ajfa-9455	378	27	.	.	PUNCT
ajfa-9455	379	1	http://dx.doi.org/10.1177/0148558x0802300405	http://dx.doi.org/10.1177/0148558x0802300405	PROPN
ajfa-9455	379	2	sarma	sarma	PROPN
ajfa-9455	379	3	,	,	PUNCT
ajfa-9455	379	4	l.	l.	PROPN
ajfa-9455	379	5	v.	v.	PROPN
ajfa-9455	379	6	l.	l.	PROPN
ajfa-9455	379	7	n.	n.	PROPN
ajfa-9455	379	8	,	,	PUNCT
ajfa-9455	379	9	&	&	CCONJ
ajfa-9455	379	10	rao	rao	PROPN
ajfa-9455	379	11	,	,	PUNCT
ajfa-9455	379	12	k.	k.	PROPN
ajfa-9455	379	13	s.	s.	PROPN
ajfa-9455	379	14	h.	h.	PROPN
ajfa-9455	379	15	(	(	PUNCT
ajfa-9455	379	16	1969	1969	NUM
ajfa-9455	379	17	)	)	PUNCT
ajfa-9455	379	18	.	.	PUNCT
ajfa-9455	380	1	leverage	leverage	NOUN
ajfa-9455	380	2	and	and	CCONJ
ajfa-9455	380	3	the	the	DET
ajfa-9455	380	4	value	value	NOUN
ajfa-9455	380	5	of	of	ADP
ajfa-9455	380	6	the	the	DET
ajfa-9455	380	7	firm	firm	NOUN
ajfa-9455	380	8	.	.	PUNCT
ajfa-9455	381	1	the	the	DET
ajfa-9455	381	2	journal	journal	PROPN
ajfa-9455	381	3	of	of	ADP
ajfa-9455	381	4	finance	finance	NOUN
ajfa-9455	381	5	,	,	PUNCT
ajfa-9455	381	6	24(4	24(4	NUM
ajfa-9455	381	7	)	)	PUNCT
ajfa-9455	381	8	,	,	PUNCT
ajfa-9455	381	9	673	673	NUM
ajfa-9455	381	10	-	-	SYM
ajfa-9455	381	11	677	677	NUM
ajfa-9455	381	12	.	.	PUNCT
ajfa-9455	382	1	http://dx.doi.org/10.1111/j.1540-6261.1969.tb00391.x	http://dx.doi.org/10.1111/j.1540-6261.1969.tb00391.x	PRON
ajfa-9455	382	2	schwert	schwert	PROPN
ajfa-9455	382	3	,	,	PUNCT
ajfa-9455	382	4	william	william	PROPN
ajfa-9455	382	5	.	.	PUNCT
ajfa-9455	382	6	(	(	PUNCT
ajfa-9455	382	7	1989	1989	NUM
ajfa-9455	382	8	)	)	PUNCT
ajfa-9455	382	9	.	.	PUNCT
ajfa-9455	383	1	why	why	SCONJ
ajfa-9455	383	2	does	do	AUX
ajfa-9455	383	3	stock	stock	NOUN
ajfa-9455	383	4	market	market	NOUN
ajfa-9455	383	5	volatility	volatility	NOUN
ajfa-9455	383	6	change	change	NOUN
ajfa-9455	383	7	over	over	ADP
ajfa-9455	383	8	time	time	NOUN
ajfa-9455	383	9	?	?	PUNCT
ajfa-9455	384	1	journal	journal	NOUN
ajfa-9455	384	2	of	of	ADP
ajfa-9455	384	3	finance	finance	NOUN
ajfa-9455	384	4	,	,	PUNCT
ajfa-9455	384	5	44	44	NUM
ajfa-9455	384	6	,	,	PUNCT
ajfa-9455	384	7	1115	1115	NUM
ajfa-9455	384	8	-	-	SYM
ajfa-9455	384	9	1153	1153	NUM
ajfa-9455	384	10	.	.	PUNCT
ajfa-9455	385	1	http://dx.doi.org/10.1111/j.1540-6261.1989.tb02647.x	http://dx.doi.org/10.1111/j.1540-6261.1989.tb02647.x	ADP
ajfa-9455	385	2	sharma	sharma	PROPN
ajfa-9455	385	3	,	,	PUNCT
ajfa-9455	385	4	a.k	a.k	PROPN
ajfa-9455	385	5	.	.	PROPN
ajfa-9455	385	6	(	(	PUNCT
ajfa-9455	385	7	2006	2006	NUM
ajfa-9455	385	8	)	)	PUNCT
ajfa-9455	385	9	.	.	PUNCT
ajfa-9455	386	1	financial	financial	ADJ
ajfa-9455	386	2	leverage	leverage	NOUN
ajfa-9455	386	3	and	and	CCONJ
ajfa-9455	386	4	firms	firm	NOUN
ajfa-9455	386	5	’	'	PUNCT
ajfa-9455	386	6	value	value	NOUN
ajfa-9455	386	7	:	:	PUNCT
ajfa-9455	386	8	a	a	DET
ajfa-9455	386	9	study	study	NOUN
ajfa-9455	386	10	of	of	ADP
ajfa-9455	386	11	capital	capital	NOUN
ajfa-9455	386	12	structure	structure	NOUN
ajfa-9455	386	13	of	of	ADP
ajfa-9455	386	14	selected	select	VERB
ajfa-9455	386	15	manufacturing	manufacturing	NOUN
ajfa-9455	386	16	sector	sector	NOUN
ajfa-9455	386	17	firms	firm	NOUN
ajfa-9455	386	18	in	in	ADP
ajfa-9455	386	19	india	india	PROPN
ajfa-9455	386	20	.	.	PUNCT
ajfa-9455	387	1	the	the	DET
ajfa-9455	387	2	business	business	NOUN
ajfa-9455	387	3	review	review	PROPN
ajfa-9455	387	4	,	,	PUNCT
ajfa-9455	387	5	cambridge	cambridge	PROPN
ajfa-9455	387	6	.	.	PUNCT
ajfa-9455	388	1	6(2	6(2	NUM
ajfa-9455	388	2	)	)	PUNCT
ajfa-9455	388	3	,	,	PUNCT
ajfa-9455	388	4	70	70	NUM
ajfa-9455	388	5	-	-	SYM
ajfa-9455	388	6	76	76	NUM
ajfa-9455	388	7	.	.	PUNCT
ajfa-9455	389	1	shehata	shehata	PROPN
ajfa-9455	389	2	,	,	PUNCT
ajfa-9455	389	3	m.	m.	NOUN
ajfa-9455	389	4	(	(	PUNCT
ajfa-9455	389	5	1991	1991	NUM
ajfa-9455	389	6	)	)	PUNCT
ajfa-9455	389	7	.	.	PUNCT
ajfa-9455	390	1	self	self	NOUN
ajfa-9455	390	2	-	-	PUNCT
ajfa-9455	390	3	selection	selection	NOUN
ajfa-9455	390	4	bias	bias	NOUN
ajfa-9455	390	5	and	and	CCONJ
ajfa-9455	390	6	the	the	DET
ajfa-9455	390	7	economic	economic	ADJ
ajfa-9455	390	8	consequences	consequence	NOUN
ajfa-9455	390	9	of	of	ADP
ajfa-9455	390	10	accounting	accounting	NOUN
ajfa-9455	390	11	regulation	regulation	NOUN
ajfa-9455	390	12	:	:	PUNCT
ajfa-9455	390	13	an	an	DET
ajfa-9455	390	14	application	application	NOUN
ajfa-9455	390	15	of	of	ADP
ajfa-9455	390	16	a	a	DET
ajfa-9455	390	17	two	two	NUM
ajfa-9455	390	18	-	-	PUNCT
ajfa-9455	390	19	stage	stage	NOUN
ajfa-9455	390	20	switching	switch	VERB
ajfa-9455	390	21	regression	regression	NOUN
ajfa-9455	390	22	to	to	PART
ajfa-9455	390	23	sfas	sfas	VERB
ajfa-9455	390	24	no	no	INTJ
ajfa-9455	390	25	.	.	NOUN
ajfa-9455	391	1	2	2	X
ajfa-9455	391	2	.	.	X
ajfa-9455	391	3	the	the	DET
ajfa-9455	391	4	accounting	accounting	NOUN
ajfa-9455	391	5	review	review	PROPN
ajfa-9455	391	6	,	,	PUNCT
ajfa-9455	391	7	66(4	66(4	NUM
ajfa-9455	391	8	)	)	PUNCT
ajfa-9455	391	9	,	,	PUNCT
ajfa-9455	391	10	768	768	NUM
ajfa-9455	391	11	-	-	SYM
ajfa-9455	391	12	787	787	NUM
ajfa-9455	391	13	.	.	PUNCT
ajfa-9455	391	14	stefanis	stefanis	NOUN
ajfa-9455	391	15	,	,	PUNCT
ajfa-9455	391	16	lambros	lambro	NOUN
ajfa-9455	391	17	(	(	PUNCT
ajfa-9455	391	18	2005	2005	NUM
ajfa-9455	391	19	)	)	PUNCT
ajfa-9455	391	20	.	.	PUNCT
ajfa-9455	392	1	testing	test	VERB
ajfa-9455	392	2	the	the	DET
ajfa-9455	392	3	relation	relation	NOUN
ajfa-9455	392	4	between	between	ADP
ajfa-9455	392	5	price	price	NOUN
ajfa-9455	392	6	-	-	PUNCT
ajfa-9455	392	7	to	to	ADP
ajfa-9455	392	8	-	-	PUNCT
ajfa-9455	392	9	earnings	earning	NOUN
ajfa-9455	392	10	ratio	ratio	NOUN
ajfa-9455	392	11	and	and	CCONJ
ajfa-9455	392	12	stock	stock	NOUN
ajfa-9455	392	13	returns	return	NOUN
ajfa-9455	392	14	in	in	ADP
ajfa-9455	392	15	the	the	DET
ajfa-9455	392	16	athens	athens	PROPN
ajfa-9455	392	17	stock	stock	PROPN
ajfa-9455	392	18	exchange	exchange	PROPN
ajfa-9455	392	19	.	.	PUNCT
ajfa-9455	393	1	http://dx.doi.org/10.2139/ssrn.872272	http://dx.doi.org/10.2139/ssrn.872272	AUX
ajfa-9455	393	2	asian	asian	ADJ
ajfa-9455	393	3	journal	journal	PROPN
ajfa-9455	393	4	of	of	ADP
ajfa-9455	393	5	finance	finance	PROPN
ajfa-9455	393	6	&	&	CCONJ
ajfa-9455	393	7	accounting	accounting	PROPN
ajfa-9455	393	8	issn	issn	PROPN
ajfa-9455	393	9	1946	1946	NUM
ajfa-9455	393	10	-	-	PUNCT
ajfa-9455	393	11	052x	052x	PROPN
ajfa-9455	393	12	2016	2016	NUM
ajfa-9455	393	13	,	,	PUNCT
ajfa-9455	393	14	vol	vol	NOUN
ajfa-9455	393	15	.	.	PROPN
ajfa-9455	393	16	8	8	NUM
ajfa-9455	393	17	,	,	PUNCT
ajfa-9455	393	18	no	no	INTJ
ajfa-9455	394	1	.	.	NOUN
ajfa-9455	394	2	1	1	NUM
ajfa-9455	394	3	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-9455	394	4	229	229	NUM
ajfa-9455	394	5	trabelsi	trabelsi	NOUN
ajfa-9455	394	6	,	,	PUNCT
ajfa-9455	394	7	j.e	j.e	PROPN
ajfa-9455	394	8	.	.	PROPN
ajfa-9455	394	9	(	(	PUNCT
ajfa-9455	394	10	2013	2013	NUM
ajfa-9455	394	11	)	)	PUNCT
ajfa-9455	394	12	.	.	PUNCT
ajfa-9455	395	1	the	the	DET
ajfa-9455	395	2	value	value	NOUN
ajfa-9455	395	3	relevance	relevance	NOUN
ajfa-9455	395	4	of	of	ADP
ajfa-9455	395	5	earnings	earning	NOUN
ajfa-9455	395	6	and	and	CCONJ
ajfa-9455	395	7	cash	cash	NOUN
ajfa-9455	395	8	flows	flow	NOUN
ajfa-9455	395	9	:	:	PUNCT
ajfa-9455	395	10	the	the	DET
ajfa-9455	395	11	tunisian	tunisian	ADJ
ajfa-9455	395	12	stock	stock	NOUN
ajfa-9455	395	13	market	market	NOUN
ajfa-9455	395	14	evidence	evidence	NOUN
ajfa-9455	395	15	.	.	PUNCT
ajfa-9455	396	1	international	international	ADJ
ajfa-9455	396	2	journal	journal	PROPN
ajfa-9455	396	3	accounting	accounting	NOUN
ajfa-9455	396	4	and	and	CCONJ
ajfa-9455	396	5	finance	finance	NOUN
ajfa-9455	396	6	,	,	PUNCT
ajfa-9455	396	7	4(1	4(1	NOUN
ajfa-9455	396	8	)	)	PUNCT
ajfa-9455	396	9	,	,	PUNCT
ajfa-9455	396	10	98–117	98–117	PROPN
ajfa-9455	396	11	.	.	PUNCT
ajfa-9455	397	1	http://dx.doi.org/10.1504/ijaf.2013.053115	http://dx.doi.org/10.1504/ijaf.2013.053115	PROPN
ajfa-9455	397	2	trezevant	trezevant	PROPN
ajfa-9455	397	3	,	,	PUNCT
ajfa-9455	397	4	r.	r.	PROPN
ajfa-9455	397	5	(	(	PUNCT
ajfa-9455	397	6	1992	1992	NUM
ajfa-9455	397	7	)	)	PUNCT
ajfa-9455	397	8	.	.	PUNCT
ajfa-9455	398	1	debt	debt	NOUN
ajfa-9455	398	2	financing	financing	NOUN
ajfa-9455	398	3	and	and	CCONJ
ajfa-9455	398	4	tax	tax	NOUN
ajfa-9455	398	5	status	status	NOUN
ajfa-9455	398	6	:	:	PUNCT
ajfa-9455	398	7	tests	test	NOUN
ajfa-9455	398	8	of	of	ADP
ajfa-9455	398	9	the	the	DET
ajfa-9455	398	10	substitution	substitution	NOUN
ajfa-9455	398	11	effect	effect	NOUN
ajfa-9455	398	12	and	and	CCONJ
ajfa-9455	398	13	the	the	DET
ajfa-9455	398	14	tax	tax	NOUN
ajfa-9455	398	15	exhaustion	exhaustion	NOUN
ajfa-9455	398	16	hypothesis	hypothesis	NOUN
ajfa-9455	398	17	using	use	VERB
ajfa-9455	398	18	firms	firm	NOUN
ajfa-9455	398	19	’	’	PART
ajfa-9455	398	20	responses	response	NOUN
ajfa-9455	398	21	to	to	ADP
ajfa-9455	398	22	the	the	DET
ajfa-9455	398	23	economic	economic	ADJ
ajfa-9455	398	24	recovery	recovery	NOUN
ajfa-9455	398	25	tax	tax	NOUN
ajfa-9455	398	26	act	act	NOUN
ajfa-9455	398	27	of	of	ADP
ajfa-9455	398	28	1981	1981	NUM
ajfa-9455	398	29	.	.	PUNCT
ajfa-9455	399	1	journal	journal	PROPN
ajfa-9455	399	2	of	of	ADP
ajfa-9455	399	3	finance	finance	NOUN
ajfa-9455	399	4	,	,	PUNCT
ajfa-9455	399	5	47	47	NUM
ajfa-9455	399	6	,	,	PUNCT
ajfa-9455	399	7	1557	1557	NUM
ajfa-9455	399	8	-	-	SYM
ajfa-9455	399	9	1568	1568	NUM
ajfa-9455	399	10	.	.	PUNCT
ajfa-9455	400	1	http://dx.doi.org/10.1111/j.1540-6261.1992.tb04670.x	http://dx.doi.org/10.1111/j.1540-6261.1992.tb04670.x	PROPN
ajfa-9455	400	2	zadeh	zadeh	PROPN
ajfa-9455	400	3	,	,	PUNCT
ajfa-9455	400	4	f.o	f.o	PROPN
ajfa-9455	400	5	.	.	PROPN
ajfa-9455	400	6	,	,	PUNCT
ajfa-9455	400	7	&	&	CCONJ
ajfa-9455	400	8	eskandari	eskandari	PROPN
ajfa-9455	400	9	,	,	PUNCT
ajfa-9455	400	10	a.	a.	NOUN
ajfa-9455	400	11	(	(	PUNCT
ajfa-9455	400	12	2012	2012	NUM
ajfa-9455	400	13	)	)	PUNCT
ajfa-9455	400	14	.	.	PUNCT
ajfa-9455	401	1	firm	firm	ADJ
ajfa-9455	401	2	size	size	NOUN
ajfa-9455	401	3	as	as	ADP
ajfa-9455	401	4	company	company	NOUN
ajfa-9455	401	5	’s	’s	PART
ajfa-9455	401	6	characteristic	characteristic	ADJ
ajfa-9455	401	7	and	and	CCONJ
ajfa-9455	401	8	level	level	NOUN
ajfa-9455	401	9	of	of	ADP
ajfa-9455	401	10	risk	risk	NOUN
ajfa-9455	401	11	disclosure	disclosure	NOUN
ajfa-9455	401	12	:	:	PUNCT
ajfa-9455	401	13	review	review	NOUN
ajfa-9455	401	14	on	on	ADP
ajfa-9455	401	15	theories	theory	NOUN
ajfa-9455	401	16	and	and	CCONJ
ajfa-9455	401	17	literatures	literature	NOUN
ajfa-9455	401	18	.	.	PUNCT
ajfa-9455	402	1	international	international	ADJ
ajfa-9455	402	2	journal	journal	PROPN
ajfa-9455	402	3	of	of	ADP
ajfa-9455	402	4	business	business	NOUN
ajfa-9455	402	5	and	and	CCONJ
ajfa-9455	402	6	social	social	ADJ
ajfa-9455	402	7	science	science	NOUN
ajfa-9455	402	8	,	,	PUNCT
ajfa-9455	402	9	3	3	NUM
ajfa-9455	402	10	(	(	PUNCT
ajfa-9455	402	11	17	17	NUM
ajfa-9455	402	12	)	)	PUNCT
ajfa-9455	402	13	9	9	NUM
ajfa-9455	402	14	-	-	SYM
ajfa-9455	402	15	17	17	NUM
ajfa-9455	402	16	.	.	PUNCT
ajfa-9455	403	1	zhang	zhang	PROPN
ajfa-9455	403	2	,	,	PUNCT
ajfa-9455	403	3	l.	l.	PROPN
ajfa-9455	403	4	(	(	PUNCT
ajfa-9455	403	5	2005	2005	NUM
ajfa-9455	403	6	)	)	PUNCT
ajfa-9455	403	7	.	.	PUNCT
ajfa-9455	404	1	the	the	DET
ajfa-9455	404	2	value	value	NOUN
ajfa-9455	404	3	premium	premium	NOUN
ajfa-9455	404	4	.	.	PUNCT
ajfa-9455	405	1	journal	journal	PROPN
ajfa-9455	405	2	of	of	ADP
ajfa-9455	405	3	finance	finance	NOUN
ajfa-9455	405	4	,	,	PUNCT
ajfa-9455	405	5	60(1	60(1	NUM
ajfa-9455	405	6	)	)	PUNCT
ajfa-9455	405	7	,	,	PUNCT
ajfa-9455	405	8	67–103	67–103	NUM
ajfa-9455	405	9	.	.	PUNCT
ajfa-9455	406	1	http://dx.doi.org/10.1111/j.1540-6261.2005.00725.x	http://dx.doi.org/10.1111/j.1540-6261.2005.00725.x	PROPN
ajfa-9455	406	2	zimmer	zimmer	PROPN
ajfa-9455	406	3	,	,	PUNCT
ajfa-9455	406	4	s.a	s.a	PROPN
ajfa-9455	406	5	.	.	PROPN
ajfa-9455	406	6	(	(	PUNCT
ajfa-9455	406	7	1990	1990	NUM
ajfa-9455	406	8	)	)	PUNCT
ajfa-9455	406	9	.	.	PUNCT
ajfa-9455	407	1	event	event	NOUN
ajfa-9455	407	2	risk	risk	NOUN
ajfa-9455	407	3	premia	premia	PROPN
ajfa-9455	407	4	and	and	CCONJ
ajfa-9455	407	5	bond	bond	NOUN
ajfa-9455	407	6	market	market	NOUN
ajfa-9455	407	7	incentives	incentive	NOUN
ajfa-9455	407	8	for	for	ADP
ajfa-9455	407	9	corporate	corporate	ADJ
ajfa-9455	407	10	leverage	leverage	NOUN
ajfa-9455	407	11	.	.	PUNCT
ajfa-9455	408	1	frb	frb	PROPN
ajfa-9455	408	2	new	new	PROPN
ajfa-9455	408	3	york	york	PROPN
ajfa-9455	408	4	quarterly	quarterly	PROPN
ajfa-9455	408	5	review	review	NOUN
ajfa-9455	408	6	,	,	PUNCT
ajfa-9455	408	7	15(1),15–30	15(1),15–30	PROPN
ajfa-9455	408	8	.	.	PUNCT
ajfa-9455	408	9	zimmerman	zimmerman	PROPN
ajfa-9455	408	10	,	,	PUNCT
ajfa-9455	408	11	j.	j.	PROPN
ajfa-9455	408	12	(	(	PUNCT
ajfa-9455	408	13	1983	1983	NUM
ajfa-9455	408	14	)	)	PUNCT
ajfa-9455	408	15	.	.	PUNCT
ajfa-9455	409	1	taxes	taxis	NOUN
ajfa-9455	409	2	and	and	CCONJ
ajfa-9455	409	3	firm	firm	ADJ
ajfa-9455	409	4	size	size	NOUN
ajfa-9455	409	5	.	.	PUNCT
ajfa-9455	410	1	journal	journal	NOUN
ajfa-9455	410	2	of	of	ADP
ajfa-9455	410	3	accounting	accounting	NOUN
ajfa-9455	410	4	and	and	CCONJ
ajfa-9455	410	5	economics	economic	NOUN
ajfa-9455	410	6	,	,	PUNCT
ajfa-9455	410	7	5(1	5(1	NUM
ajfa-9455	410	8	)	)	PUNCT
ajfa-9455	410	9	,	,	PUNCT
ajfa-9455	410	10	119	119	NUM
ajfa-9455	410	11	-	-	SYM
ajfa-9455	410	12	149	149	NUM
ajfa-9455	410	13	.	.	PUNCT
ajfa-9455	411	1	http://dx.doi.org/10.1016/0165-4101(83)90008-3	http://dx.doi.org/10.1016/0165-4101(83)90008-3	PROPN
ajfa-9455	411	2	zmijewski	zmijewski	PROPN
ajfa-9455	411	3	,	,	PUNCT
ajfa-9455	411	4	m.	m.	NOUN
ajfa-9455	411	5	,	,	PUNCT
ajfa-9455	411	6	&	&	CCONJ
ajfa-9455	411	7	hagerman	hagerman	PROPN
ajfa-9455	411	8	,	,	PUNCT
ajfa-9455	411	9	r.	r.	PROPN
ajfa-9455	411	10	(	(	PUNCT
ajfa-9455	411	11	1981	1981	NUM
ajfa-9455	411	12	)	)	PUNCT
ajfa-9455	411	13	.	.	PUNCT
ajfa-9455	412	1	an	an	DET
ajfa-9455	412	2	income	income	NOUN
ajfa-9455	412	3	strategy	strategy	NOUN
ajfa-9455	412	4	to	to	ADP
ajfa-9455	412	5	the	the	DET
ajfa-9455	412	6	positive	positive	ADJ
ajfa-9455	412	7	theory	theory	NOUN
ajfa-9455	412	8	of	of	ADP
ajfa-9455	412	9	accounting	accounting	NOUN
ajfa-9455	412	10	standard	standard	ADJ
ajfa-9455	412	11	setting	set	VERB
ajfa-9455	412	12	choice	choice	NOUN
ajfa-9455	412	13	.	.	PUNCT
ajfa-9455	413	1	journal	journal	NOUN
ajfa-9455	413	2	of	of	ADP
ajfa-9455	413	3	accounting	accounting	NOUN
ajfa-9455	413	4	and	and	CCONJ
ajfa-9455	413	5	economics	economic	NOUN
ajfa-9455	413	6	,	,	PUNCT
ajfa-9455	413	7	3(1	3(1	NUM
ajfa-9455	413	8	)	)	PUNCT
ajfa-9455	413	9	,	,	PUNCT
ajfa-9455	413	10	129	129	NUM
ajfa-9455	413	11	-	-	SYM
ajfa-9455	413	12	149	149	NUM
ajfa-9455	413	13	.	.	PUNCT
ajfa-9455	414	1	http://dx.doi.org/10.1016/0165-4101(81)90010-0	http://dx.doi.org/10.1016/0165-4101(81)90010-0	PUNCT