id	sid	tid	token	lemma	pos
afbr-403	1	1	copyright	copyright	NOUN
afbr-403	1	2	©	©	PROPN
afbr-403	1	3	cc	cc	PROPN
afbr-403	1	4	-	-	PUNCT
afbr-403	1	5	by	by	ADP
afbr-403	1	6	-	-	PUNCT
afbr-403	1	7	nc	nc	PROPN
afbr-403	1	8	2019	2019	NUM
afbr-403	1	9	,	,	PUNCT
afbr-403	1	10	cribfb	cribfb	PROPN
afbr-403	1	11	|	|	ADV
afbr-403	1	12	afbr	afbr	SCONJ
afbr-403	1	13	australian	australian	ADJ
afbr-403	1	14	finance	finance	NOUN
afbr-403	1	15	&	&	CCONJ
afbr-403	1	16	banking	banking	PROPN
afbr-403	1	17	review	review	PROPN
afbr-403	1	18	;	;	PUNCT
afbr-403	1	19	vol	vol	NOUN
afbr-403	1	20	.	.	PROPN
afbr-403	2	1	3	3	NUM
afbr-403	2	2	,	,	PUNCT
afbr-403	2	3	no	no	INTJ
afbr-403	2	4	.	.	NOUN
afbr-403	2	5	2	2	NUM
afbr-403	2	6	;	;	PUNCT
afbr-403	2	7	2019	2019	NUM
afbr-403	2	8	research	research	NOUN
afbr-403	2	9	paper	paper	NOUN
afbr-403	2	10	issn	issn	PROPN
afbr-403	2	11	2576	2576	NUM
afbr-403	2	12	-	-	SYM
afbr-403	2	13	1196	1196	NUM
afbr-403	2	14	e	e	NOUN
afbr-403	2	15	-	-	PROPN
afbr-403	2	16	issn	issn	ADJ
afbr-403	2	17	2576	2576	NUM
afbr-403	2	18	-	-	PUNCT
afbr-403	2	19	120x	120x	NUM
afbr-403	2	20	published	publish	VERB
afbr-403	2	21	by	by	ADP
afbr-403	2	22	centre	centre	NOUN
afbr-403	2	23	for	for	ADP
afbr-403	2	24	research	research	NOUN
afbr-403	2	25	on	on	ADP
afbr-403	2	26	islamic	islamic	ADJ
afbr-403	2	27	banking	banking	PROPN
afbr-403	2	28	&	&	CCONJ
afbr-403	2	29	finance	finance	PROPN
afbr-403	2	30	and	and	CCONJ
afbr-403	2	31	business	business	NOUN
afbr-403	2	32	,	,	PUNCT
afbr-403	2	33	usa	usa	PROPN
afbr-403	2	34	1	1	NUM
afbr-403	2	35	capital	capital	NOUN
afbr-403	2	36	structure	structure	NOUN
afbr-403	2	37	and	and	CCONJ
afbr-403	2	38	the	the	DET
afbr-403	2	39	value	value	NOUN
afbr-403	2	40	of	of	ADP
afbr-403	2	41	quoted	quote	VERB
afbr-403	2	42	firms	firm	NOUN
afbr-403	2	43	in	in	ADP
afbr-403	2	44	nigeria	nigeria	PROPN
afbr-403	2	45	:	:	PUNCT
afbr-403	2	46	a	a	DET
afbr-403	2	47	test	test	NOUN
afbr-403	2	48	of	of	ADP
afbr-403	2	49	miller	miller	PROPN
afbr-403	2	50	and	and	CCONJ
afbr-403	2	51	modigliani	modigliani	ADJ
afbr-403	2	52	irrelevant	irrelevant	ADJ
afbr-403	2	53	hypothesis	hypothesis	NOUN
afbr-403	2	54	uzokwe	uzokwe	VERB
afbr-403	2	55	grace	grace	PROPN
afbr-403	2	56	onyinyechi	onyinyechi	PROPN
afbr-403	2	57	department	department	PROPN
afbr-403	2	58	of	of	ADP
afbr-403	2	59	banking	banking	NOUN
afbr-403	2	60	and	and	CCONJ
afbr-403	2	61	finance	finance	NOUN
afbr-403	2	62	rivers	river	NOUN
afbr-403	2	63	state	state	PROPN
afbr-403	2	64	university	university	PROPN
afbr-403	2	65	,	,	PUNCT
afbr-403	2	66	port	port	NOUN
afbr-403	2	67	harcourt	harcourt	PROPN
afbr-403	2	68	,	,	PUNCT
afbr-403	2	69	nigeria	nigeria	PROPN
afbr-403	2	70	abstract	abstract	ADV
afbr-403	2	71	this	this	DET
afbr-403	2	72	study	study	NOUN
afbr-403	2	73	tested	test	VERB
afbr-403	2	74	an	an	DET
afbr-403	2	75	insignificant	insignificant	ADJ
afbr-403	2	76	hypothesis	hypothesis	NOUN
afbr-403	2	77	of	of	ADP
afbr-403	2	78	the	the	DET
afbr-403	2	79	capital	capital	NOUN
afbr-403	2	80	structure	structure	NOUN
afbr-403	2	81	of	of	ADP
afbr-403	2	82	miller	miller	PROPN
afbr-403	2	83	and	and	CCONJ
afbr-403	2	84	modiglian	modiglian	PROPN
afbr-403	2	85	in	in	ADP
afbr-403	2	86	nigeria	nigeria	PROPN
afbr-403	2	87	.	.	PUNCT
afbr-403	3	1	the	the	DET
afbr-403	3	2	aim	aim	NOUN
afbr-403	3	3	was	be	AUX
afbr-403	3	4	to	to	PART
afbr-403	3	5	investigate	investigate	VERB
afbr-403	3	6	the	the	DET
afbr-403	3	7	validity	validity	NOUN
afbr-403	3	8	of	of	ADP
afbr-403	3	9	the	the	DET
afbr-403	3	10	irrelevant	irrelevant	ADJ
afbr-403	3	11	hypothesis	hypothesis	NOUN
afbr-403	3	12	.	.	PUNCT
afbr-403	4	1	the	the	DET
afbr-403	4	2	tobins	tobin	NOUN
afbr-403	4	3	q	q	NOUN
afbr-403	4	4	market	market	NOUN
afbr-403	4	5	value	value	NOUN
afbr-403	4	6	measure	measure	NOUN
afbr-403	4	7	was	be	AUX
afbr-403	4	8	modeled	model	VERB
afbr-403	4	9	as	as	ADP
afbr-403	4	10	a	a	DET
afbr-403	4	11	function	function	NOUN
afbr-403	4	12	of	of	ADP
afbr-403	4	13	debt	debt	NOUN
afbr-403	4	14	-	-	PUNCT
afbr-403	4	15	toequity	toequity	NOUN
afbr-403	4	16	ratio	ratio	NOUN
afbr-403	4	17	,	,	PUNCT
afbr-403	4	18	long	long	ADJ
afbr-403	4	19	-	-	PUNCT
afbr-403	4	20	term	term	NOUN
afbr-403	4	21	debt	debt	NOUN
afbr-403	4	22	to	to	ADP
afbr-403	4	23	equity	equity	NOUN
afbr-403	4	24	ratio	ratio	NOUN
afbr-403	4	25	,	,	PUNCT
afbr-403	4	26	and	and	CCONJ
afbr-403	4	27	retained	retain	VERB
afbr-403	4	28	earnings	earning	NOUN
afbr-403	4	29	ratio	ratio	NOUN
afbr-403	4	30	.	.	PUNCT
afbr-403	5	1	twenty	twenty	NUM
afbr-403	5	2	companies	company	NOUN
afbr-403	5	3	were	be	AUX
afbr-403	5	4	selected	select	VERB
afbr-403	5	5	on	on	ADP
afbr-403	5	6	the	the	DET
afbr-403	5	7	basis	basis	NOUN
afbr-403	5	8	of	of	ADP
afbr-403	5	9	the	the	DET
afbr-403	5	10	information	information	NOUN
afbr-403	5	11	needed	need	VERB
afbr-403	5	12	to	to	PART
afbr-403	5	13	conduct	conduct	VERB
afbr-403	5	14	the	the	DET
afbr-403	5	15	survey	survey	NOUN
afbr-403	5	16	and	and	CCONJ
afbr-403	5	17	the	the	DET
afbr-403	5	18	availability	availability	NOUN
afbr-403	5	19	of	of	ADP
afbr-403	5	20	annual	annual	ADJ
afbr-403	5	21	financial	financial	ADJ
afbr-403	5	22	reports	report	NOUN
afbr-403	5	23	for	for	ADP
afbr-403	5	24	the	the	DET
afbr-403	5	25	ten	ten	NUM
afbr-403	5	26	-	-	PUNCT
afbr-403	5	27	year	year	NOUN
afbr-403	5	28	period	period	NOUN
afbr-403	5	29	2008	2008	NUM
afbr-403	5	30	-	-	SYM
afbr-403	5	31	2017	2017	NUM
afbr-403	5	32	.	.	PUNCT
afbr-403	6	1	cross	cross	ADJ
afbr-403	6	2	-	-	ADJ
afbr-403	6	3	sectional	sectional	ADJ
afbr-403	6	4	data	datum	NOUN
afbr-403	6	5	were	be	AUX
afbr-403	6	6	obtained	obtain	VERB
afbr-403	6	7	from	from	ADP
afbr-403	6	8	the	the	DET
afbr-403	6	9	annual	annual	ADJ
afbr-403	6	10	accounts	account	NOUN
afbr-403	6	11	and	and	CCONJ
afbr-403	6	12	annual	annual	ADJ
afbr-403	6	13	reports	report	NOUN
afbr-403	6	14	of	of	ADP
afbr-403	6	15	the	the	DET
afbr-403	6	16	companies	company	NOUN
afbr-403	6	17	.	.	PUNCT
afbr-403	7	1	random	random	ADJ
afbr-403	7	2	effects	effect	NOUN
afbr-403	7	3	were	be	AUX
afbr-403	7	4	used	use	VERB
afbr-403	7	5	in	in	ADP
afbr-403	7	6	the	the	DET
afbr-403	7	7	analysis	analysis	NOUN
afbr-403	7	8	of	of	ADP
afbr-403	7	9	fixed	fix	VERB
afbr-403	7	10	and	and	CCONJ
afbr-403	7	11	random	random	ADJ
afbr-403	7	12	effects	effect	NOUN
afbr-403	7	13	.	.	PUNCT
afbr-403	8	1	the	the	DET
afbr-403	8	2	study	study	NOUN
afbr-403	8	3	showed	show	VERB
afbr-403	8	4	that	that	SCONJ
afbr-403	8	5	77	77	NUM
afbr-403	8	6	%	%	NOUN
afbr-403	8	7	volatility	volatility	NOUN
afbr-403	8	8	in	in	ADP
afbr-403	8	9	market	market	NOUN
afbr-403	8	10	value	value	NOUN
afbr-403	8	11	can	can	AUX
afbr-403	8	12	be	be	AUX
afbr-403	8	13	predicted	predict	VERB
afbr-403	8	14	by	by	ADP
afbr-403	8	15	the	the	DET
afbr-403	8	16	variation	variation	NOUN
afbr-403	8	17	of	of	ADP
afbr-403	8	18	independent	independent	ADJ
afbr-403	8	19	variables	variable	NOUN
afbr-403	8	20	in	in	ADP
afbr-403	8	21	the	the	DET
afbr-403	8	22	regression	regression	NOUN
afbr-403	8	23	model	model	NOUN
afbr-403	8	24	.	.	PUNCT
afbr-403	9	1	the	the	DET
afbr-403	9	2	beta	beta	ADJ
afbr-403	9	3	coefficient	coefficient	NOUN
afbr-403	9	4	of	of	ADP
afbr-403	9	5	the	the	DET
afbr-403	9	6	variables	variable	NOUN
afbr-403	9	7	found	find	VERB
afbr-403	9	8	that	that	SCONJ
afbr-403	9	9	the	the	DET
afbr-403	9	10	debt	debt	NOUN
afbr-403	9	11	-	-	PUNCT
afbr-403	9	12	to	to	ADP
afbr-403	9	13	-	-	PUNCT
afbr-403	9	14	equity	equity	NOUN
afbr-403	9	15	ratio	ratio	NOUN
afbr-403	9	16	,	,	PUNCT
afbr-403	9	17	the	the	DET
afbr-403	9	18	long	long	ADJ
afbr-403	9	19	-	-	PUNCT
afbr-403	9	20	term	term	NOUN
afbr-403	9	21	debt	debt	NOUN
afbr-403	9	22	-	-	PUNCT
afbr-403	9	23	to	to	ADP
afbr-403	9	24	-	-	PUNCT
afbr-403	9	25	equity	equity	NOUN
afbr-403	9	26	ratio	ratio	NOUN
afbr-403	9	27	,	,	PUNCT
afbr-403	9	28	the	the	DET
afbr-403	9	29	capital	capital	NOUN
afbr-403	9	30	-	-	PUNCT
afbr-403	9	31	to	to	ADP
afbr-403	9	32	-	-	PUNCT
afbr-403	9	33	earnings	earning	NOUN
afbr-403	9	34	ratio	ratio	NOUN
afbr-403	9	35	is	be	AUX
afbr-403	9	36	positively	positively	ADV
afbr-403	9	37	and	and	CCONJ
afbr-403	9	38	significantly	significantly	ADV
afbr-403	9	39	related	relate	VERB
afbr-403	9	40	to	to	ADP
afbr-403	9	41	the	the	DET
afbr-403	9	42	market	market	NOUN
afbr-403	9	43	value	value	NOUN
afbr-403	9	44	of	of	ADP
afbr-403	9	45	the	the	DET
afbr-403	9	46	selected	select	VERB
afbr-403	9	47	listed	list	VERB
afbr-403	9	48	companies	company	NOUN
afbr-403	9	49	.	.	PUNCT
afbr-403	10	1	the	the	DET
afbr-403	10	2	study	study	NOUN
afbr-403	10	3	concludes	conclude	VERB
afbr-403	10	4	that	that	SCONJ
afbr-403	10	5	capital	capital	NOUN
afbr-403	10	6	structure	structure	NOUN
afbr-403	10	7	is	be	AUX
afbr-403	10	8	relevant	relevant	ADJ
afbr-403	10	9	,	,	PUNCT
afbr-403	10	10	unlike	unlike	ADP
afbr-403	10	11	miller	miller	PROPN
afbr-403	10	12	's	's	PART
afbr-403	10	13	and	and	CCONJ
afbr-403	10	14	modiglian	modiglian	PROPN
afbr-403	10	15	's	's	PART
afbr-403	10	16	irrelevant	irrelevant	ADJ
afbr-403	10	17	hypothesis	hypothesis	NOUN
afbr-403	10	18	.	.	PUNCT
afbr-403	11	1	therefore	therefore	ADV
afbr-403	11	2	,	,	PUNCT
afbr-403	11	3	it	it	PRON
afbr-403	11	4	is	be	AUX
afbr-403	11	5	recommended	recommend	VERB
afbr-403	11	6	that	that	SCONJ
afbr-403	11	7	managers	manager	NOUN
afbr-403	11	8	ensure	ensure	VERB
afbr-403	11	9	an	an	DET
afbr-403	11	10	adequate	adequate	ADJ
afbr-403	11	11	combination	combination	NOUN
afbr-403	11	12	of	of	ADP
afbr-403	11	13	capital	capital	NOUN
afbr-403	11	14	and	and	CCONJ
afbr-403	11	15	debt	debt	NOUN
afbr-403	11	16	.	.	PUNCT
afbr-403	12	1	keywords	keyword	NOUN
afbr-403	12	2	:	:	PUNCT
afbr-403	12	3	capital	capital	NOUN
afbr-403	12	4	structure	structure	NOUN
afbr-403	12	5	,	,	PUNCT
afbr-403	12	6	miller	miller	PROPN
afbr-403	12	7	and	and	CCONJ
afbr-403	12	8	modigliani	modigliani	ADJ
afbr-403	12	9	,	,	PUNCT
afbr-403	12	10	irrelevant	irrelevant	ADJ
afbr-403	12	11	hypothesis	hypothesis	NOUN
afbr-403	12	12	.	.	PUNCT
afbr-403	13	1	1	1	X
afbr-403	13	2	.	.	X
afbr-403	13	3	introduction	introduction	NOUN
afbr-403	13	4	classical	classical	ADJ
afbr-403	13	5	opinion	opinion	NOUN
afbr-403	13	6	,	,	PUNCT
afbr-403	13	7	like	like	ADP
afbr-403	13	8	gordons	gordon	NOUN
afbr-403	13	9	(	(	PUNCT
afbr-403	13	10	1959	1959	NUM
afbr-403	13	11	)	)	PUNCT
afbr-403	13	12	,	,	PUNCT
afbr-403	13	13	considered	consider	VERB
afbr-403	13	14	that	that	SCONJ
afbr-403	13	15	micro	micro	NOUN
afbr-403	13	16	-	-	NOUN
afbr-403	13	17	power	power	NOUN
afbr-403	13	18	as	as	ADP
afbr-403	13	19	a	a	DET
afbr-403	13	20	measure	measure	NOUN
afbr-403	13	21	of	of	ADP
afbr-403	13	22	the	the	DET
afbr-403	13	23	profitability	profitability	NOUN
afbr-403	13	24	of	of	ADP
afbr-403	13	25	a	a	DET
afbr-403	13	26	company	company	NOUN
afbr-403	13	27	is	be	AUX
afbr-403	13	28	an	an	DET
afbr-403	13	29	indicator	indicator	NOUN
afbr-403	13	30	that	that	SCONJ
afbr-403	13	31	the	the	DET
afbr-403	13	32	company	company	NOUN
afbr-403	13	33	is	be	AUX
afbr-403	13	34	capable	capable	ADJ
afbr-403	13	35	of	of	ADP
afbr-403	13	36	adding	add	VERB
afbr-403	13	37	value	value	NOUN
afbr-403	13	38	to	to	ADP
afbr-403	13	39	its	its	PRON
afbr-403	13	40	shareholders	shareholder	NOUN
afbr-403	13	41	(	(	PUNCT
afbr-403	13	42	lintner	lintner	NOUN
afbr-403	13	43	,	,	PUNCT
afbr-403	13	44	1956	1956	NUM
afbr-403	13	45	)	)	PUNCT
afbr-403	13	46	.	.	PUNCT
afbr-403	14	1	classic	classic	ADJ
afbr-403	14	2	models	model	NOUN
afbr-403	14	3	of	of	ADP
afbr-403	14	4	financial	financial	ADJ
afbr-403	14	5	valuation	valuation	NOUN
afbr-403	14	6	show	show	VERB
afbr-403	14	7	that	that	SCONJ
afbr-403	14	8	capital	capital	NOUN
afbr-403	14	9	structure	structure	NOUN
afbr-403	14	10	as	as	ADP
afbr-403	14	11	a	a	DET
afbr-403	14	12	dividend	dividend	NOUN
afbr-403	14	13	policy	policy	NOUN
afbr-403	14	14	is	be	AUX
afbr-403	14	15	important	important	ADJ
afbr-403	14	16	because	because	SCONJ
afbr-403	14	17	the	the	DET
afbr-403	14	18	optimal	optimal	ADJ
afbr-403	14	19	combination	combination	NOUN
afbr-403	14	20	of	of	ADP
afbr-403	14	21	capital	capital	NOUN
afbr-403	14	22	affects	affect	VERB
afbr-403	14	23	the	the	DET
afbr-403	14	24	value	value	NOUN
afbr-403	14	25	of	of	ADP
afbr-403	14	26	the	the	DET
afbr-403	14	27	company	company	NOUN
afbr-403	14	28	.	.	PUNCT
afbr-403	15	1	it	it	PRON
afbr-403	15	2	is	be	AUX
afbr-403	15	3	used	use	VERB
afbr-403	15	4	as	as	ADP
afbr-403	15	5	a	a	DET
afbr-403	15	6	financial	financial	NOUN
afbr-403	15	7	token	token	VERB
afbr-403	15	8	for	for	ADP
afbr-403	15	9	external	external	ADJ
afbr-403	15	10	people	people	NOUN
afbr-403	15	11	in	in	ADP
afbr-403	15	12	relation	relation	NOUN
afbr-403	15	13	to	to	ADP
afbr-403	15	14	the	the	DET
afbr-403	15	15	stability	stability	NOUN
afbr-403	15	16	and	and	CCONJ
afbr-403	15	17	growth	growth	NOUN
afbr-403	15	18	prospects	prospect	NOUN
afbr-403	15	19	of	of	ADP
afbr-403	15	20	a	a	DET
afbr-403	15	21	company	company	NOUN
afbr-403	15	22	(	(	PUNCT
afbr-403	15	23	ross	ross	PROPN
afbr-403	15	24	,	,	PUNCT
afbr-403	15	25	1977	1977	NUM
afbr-403	15	26	)	)	PUNCT
afbr-403	15	27	.	.	PUNCT
afbr-403	16	1	capital	capital	NOUN
afbr-403	16	2	structure	structure	NOUN
afbr-403	16	3	is	be	AUX
afbr-403	16	4	a	a	DET
afbr-403	16	5	combination	combination	NOUN
afbr-403	16	6	of	of	ADP
afbr-403	16	7	sources	source	NOUN
afbr-403	16	8	of	of	ADP
afbr-403	16	9	finance	finance	NOUN
afbr-403	16	10	used	use	VERB
afbr-403	16	11	by	by	ADP
afbr-403	16	12	companies	company	NOUN
afbr-403	16	13	to	to	PART
afbr-403	16	14	finance	finance	VERB
afbr-403	16	15	their	their	PRON
afbr-403	16	16	activities	activity	NOUN
afbr-403	16	17	and	and	CCONJ
afbr-403	16	18	assets	asset	NOUN
afbr-403	16	19	(	(	PUNCT
afbr-403	16	20	modigliani	modigliani	PROPN
afbr-403	16	21	and	and	CCONJ
afbr-403	16	22	miller	miller	PROPN
afbr-403	16	23	,	,	PUNCT
afbr-403	16	24	1958	1958	NUM
afbr-403	16	25	)	)	PUNCT
afbr-403	16	26	.	.	PUNCT
afbr-403	17	1	the	the	DET
afbr-403	17	2	concept	concept	NOUN
afbr-403	17	3	of	of	ADP
afbr-403	17	4	capital	capital	NOUN
afbr-403	17	5	structure	structure	NOUN
afbr-403	17	6	was	be	AUX
afbr-403	17	7	not	not	PART
afbr-403	17	8	discovered	discover	VERB
afbr-403	17	9	until	until	ADP
afbr-403	17	10	modigliani	modigliani	NOUN
afbr-403	17	11	and	and	CCONJ
afbr-403	17	12	miller	miller	PROPN
afbr-403	17	13	(	(	PUNCT
afbr-403	17	14	1958	1958	NUM
afbr-403	17	15	)	)	PUNCT
afbr-403	17	16	explained	explain	VERB
afbr-403	17	17	it	it	PRON
afbr-403	17	18	in	in	ADP
afbr-403	17	19	the	the	DET
afbr-403	17	20	theory	theory	NOUN
afbr-403	17	21	of	of	ADP
afbr-403	17	22	the	the	DET
afbr-403	17	23	insignificance	insignificance	NOUN
afbr-403	17	24	of	of	ADP
afbr-403	17	25	their	their	PRON
afbr-403	17	26	capital	capital	NOUN
afbr-403	17	27	structure	structure	NOUN
afbr-403	17	28	.	.	PUNCT
afbr-403	18	1	how	how	SCONJ
afbr-403	18	2	a	a	DET
afbr-403	18	3	company	company	NOUN
afbr-403	18	4	can	can	AUX
afbr-403	18	5	finance	finance	VERB
afbr-403	18	6	its	its	PRON
afbr-403	18	7	operations	operation	NOUN
afbr-403	18	8	and	and	CCONJ
afbr-403	18	9	assets	asset	NOUN
afbr-403	18	10	through	through	ADP
afbr-403	18	11	the	the	DET
afbr-403	18	12	issue	issue	NOUN
afbr-403	18	13	of	of	ADP
afbr-403	18	14	shares	share	NOUN
afbr-403	18	15	,	,	PUNCT
afbr-403	18	16	bonds	bond	NOUN
afbr-403	18	17	or	or	CCONJ
afbr-403	18	18	preferred	preferred	ADJ
afbr-403	18	19	shares	share	NOUN
afbr-403	18	20	.	.	PUNCT
afbr-403	19	1	the	the	DET
afbr-403	19	2	structure	structure	NOUN
afbr-403	19	3	of	of	ADP
afbr-403	19	4	capital	capital	NOUN
afbr-403	19	5	is	be	AUX
afbr-403	19	6	the	the	DET
afbr-403	19	7	right	right	ADJ
afbr-403	19	8	side	side	NOUN
afbr-403	19	9	of	of	ADP
afbr-403	19	10	the	the	DET
afbr-403	19	11	balance	balance	NOUN
afbr-403	19	12	sheet	sheet	NOUN
afbr-403	19	13	.	.	PUNCT
afbr-403	20	1	the	the	DET
afbr-403	20	2	insignificance	insignificance	NOUN
afbr-403	20	3	proposition	proposition	NOUN
afbr-403	20	4	theorem	theorem	NOUN
afbr-403	20	5	is	be	AUX
afbr-403	20	6	a	a	DET
afbr-403	20	7	theory	theory	NOUN
afbr-403	20	8	of	of	ADP
afbr-403	20	9	the	the	DET
afbr-403	20	10	capital	capital	NOUN
afbr-403	20	11	structure	structure	NOUN
afbr-403	20	12	of	of	ADP
afbr-403	20	13	a	a	DET
afbr-403	20	14	company	company	NOUN
afbr-403	20	15	,	,	PUNCT
afbr-403	20	16	which	which	PRON
afbr-403	20	17	assumes	assume	VERB
afbr-403	20	18	that	that	SCONJ
afbr-403	20	19	leverage	leverage	NOUN
afbr-403	20	20	does	do	AUX
afbr-403	20	21	not	not	PART
afbr-403	20	22	af	af	AUX
afbr-403	20	23	fect	fect	VERB
afbr-403	20	24	the	the	DET
afbr-403	20	25	value	value	NOUN
afbr-403	20	26	of	of	ADP
afbr-403	20	27	the	the	DET
afbr-403	20	28	company	company	NOUN
afbr-403	20	29	unless	unless	SCONJ
afbr-403	20	30	the	the	DET
afbr-403	20	31	costs	cost	NOUN
afbr-403	20	32	of	of	ADP
afbr-403	20	33	the	the	DET
afbr-403	20	34	tax	tax	NOUN
afbr-403	20	35	and	and	CCONJ
afbr-403	20	36	hardships	hardship	NOUN
afbr-403	20	37	are	be	AUX
afbr-403	20	38	incurred	incur	VERB
afbr-403	20	39	in	in	ADP
afbr-403	20	40	the	the	DET
afbr-403	20	41	business	business	NOUN
afbr-403	20	42	environment	environment	NOUN
afbr-403	20	43	.	.	PUNCT
afbr-403	21	1	modigliani	modigliani	PROPN
afbr-403	21	2	and	and	CCONJ
afbr-403	21	3	miller	miller	PROPN
afbr-403	21	4	published	publish	VERB
afbr-403	21	5	their	their	PRON
afbr-403	21	6	pioneering	pioneer	VERB
afbr-403	21	7	work	work	NOUN
afbr-403	21	8	on	on	ADP
afbr-403	21	9	capital	capital	NOUN
afbr-403	21	10	structure	structure	NOUN
afbr-403	21	11	in	in	ADP
afbr-403	21	12	1958	1958	NUM
afbr-403	21	13	.	.	PUNCT
afbr-403	22	1	in	in	ADP
afbr-403	22	2	their	their	PRON
afbr-403	22	3	article	article	NOUN
afbr-403	22	4	,	,	PUNCT
afbr-403	22	5	they	they	PRON
afbr-403	22	6	show	show	VERB
afbr-403	22	7	that	that	SCONJ
afbr-403	22	8	in	in	ADP
afbr-403	22	9	a	a	DET
afbr-403	22	10	frictioned	frictioned	ADJ
afbr-403	22	11	world	world	NOUN
afbr-403	22	12	where	where	SCONJ
afbr-403	22	13	capital	capital	NOUN
afbr-403	22	14	markets	market	NOUN
afbr-403	22	15	are	be	AUX
afbr-403	22	16	ideal	ideal	ADJ
afbr-403	22	17	and	and	CCONJ
afbr-403	22	18	where	where	SCONJ
afbr-403	22	19	corporate	corporate	ADJ
afbr-403	22	20	income	income	NOUN
afbr-403	22	21	tax	tax	NOUN
afbr-403	22	22	is	be	AUX
afbr-403	22	23	lacking	lack	VERB
afbr-403	22	24	,	,	PUNCT
afbr-403	22	25	the	the	DET
afbr-403	22	26	value	value	NOUN
afbr-403	22	27	of	of	ADP
afbr-403	22	28	a	a	DET
afbr-403	22	29	company	company	NOUN
afbr-403	22	30	is	be	AUX
afbr-403	22	31	not	not	PART
afbr-403	22	32	affected	affect	VERB
afbr-403	22	33	by	by	ADP
afbr-403	22	34	the	the	DET
afbr-403	22	35	structure	structure	NOUN
afbr-403	22	36	of	of	ADP
afbr-403	22	37	that	that	DET
afbr-403	22	38	capital	capital	NOUN
afbr-403	22	39	.	.	PUNCT
afbr-403	22	40	.	.	PUNCT
afbr-403	23	1	in	in	ADP
afbr-403	23	2	other	other	ADJ
afbr-403	23	3	words	word	NOUN
afbr-403	23	4	,	,	PUNCT
afbr-403	23	5	capital	capital	NOUN
afbr-403	23	6	structure	structure	NOUN
afbr-403	23	7	is	be	AUX
afbr-403	23	8	irrelevant	irrelevant	ADJ
afbr-403	23	9	(	(	PUNCT
afbr-403	23	10	modigliani	modigliani	PROPN
afbr-403	23	11	and	and	CCONJ
afbr-403	23	12	miller	miller	PROPN
afbr-403	23	13	,	,	PUNCT
afbr-403	23	14	1958	1958	NUM
afbr-403	23	15	)	)	PUNCT
afbr-403	23	16	.	.	PUNCT
afbr-403	24	1	since	since	SCONJ
afbr-403	24	2	then	then	ADV
afbr-403	24	3	,	,	PUNCT
afbr-403	24	4	researchers	researcher	NOUN
afbr-403	24	5	have	have	AUX
afbr-403	24	6	sought	seek	VERB
afbr-403	24	7	to	to	PART
afbr-403	24	8	determine	determine	VERB
afbr-403	24	9	the	the	DET
afbr-403	24	10	importance	importance	NOUN
afbr-403	24	11	of	of	ADP
afbr-403	24	12	a	a	DET
afbr-403	24	13	firm	firm	NOUN
afbr-403	24	14	's	's	PART
afbr-403	24	15	capital	capital	NOUN
afbr-403	24	16	structure	structure	NOUN
afbr-403	24	17	in	in	ADP
afbr-403	24	18	the	the	DET
afbr-403	24	19	face	face	NOUN
afbr-403	24	20	of	of	ADP
afbr-403	24	21	frictions	friction	NOUN
afbr-403	24	22	and	and	CCONJ
afbr-403	24	23	shortcomings	shortcoming	NOUN
afbr-403	24	24	in	in	ADP
afbr-403	24	25	the	the	DET
afbr-403	24	26	capital	capital	NOUN
afbr-403	24	27	market	market	NOUN
afbr-403	24	28	,	,	PUNCT
afbr-403	24	29	such	such	ADJ
afbr-403	24	30	as	as	ADP
afbr-403	24	31	leveraged	leveraged	ADJ
afbr-403	24	32	tax	tax	NOUN
afbr-403	24	33	shield	shield	NOUN
afbr-403	24	34	profits	profit	NOUN
afbr-403	24	35	(	(	PUNCT
afbr-403	24	36	modigliani	modigliani	PROPN
afbr-403	24	37	and	and	CCONJ
afbr-403	24	38	miller	miller	PROPN
afbr-403	24	39	,	,	PUNCT
afbr-403	24	40	1963	1963	NUM
afbr-403	24	41	)	)	PUNCT
afbr-403	24	42	,	,	PUNCT
afbr-403	24	43	bankruptcy	bankruptcy	NOUN
afbr-403	24	44	(	(	PUNCT
afbr-403	24	45	bradley	bradley	PROPN
afbr-403	24	46	,	,	PUNCT
afbr-403	24	47	jarrell	jarrell	PROPN
afbr-403	24	48	and	and	CCONJ
afbr-403	24	49	kim	kim	PROPN
afbr-403	24	50	,	,	PUNCT
afbr-403	24	51	1984	1984	NUM
afbr-403	24	52	;	;	PUNCT
afbr-403	24	53	kraus	kraus	PROPN
afbr-403	24	54	and	and	CCONJ
afbr-403	24	55	litzenberger	litzenberger	NOUN
afbr-403	24	56	,	,	PUNCT
afbr-403	24	57	1973	1973	NUM
afbr-403	24	58	)	)	PUNCT
afbr-403	24	59	and	and	CCONJ
afbr-403	24	60	meckling	meckling	NOUN
afbr-403	24	61	,	,	PUNCT
afbr-403	24	62	1976	1976	NUM
afbr-403	24	63	)	)	PUNCT
afbr-403	24	64	and	and	CCONJ
afbr-403	24	65	information	information	NOUN
afbr-403	24	66	asymmetry	asymmetry	NOUN
afbr-403	24	67	(	(	PUNCT
afbr-403	24	68	myers	myer	NOUN
afbr-403	24	69	and	and	CCONJ
afbr-403	24	70	majluf	majluf	NOUN
afbr-403	24	71	,	,	PUNCT
afbr-403	24	72	1984	1984	NUM
afbr-403	24	73	)	)	PUNCT
afbr-403	24	74	.	.	PUNCT
afbr-403	25	1	modiglian	modiglian	PROPN
afbr-403	25	2	and	and	CCONJ
afbr-403	25	3	miller	miller	PROPN
afbr-403	25	4	's	's	PART
afbr-403	25	5	(	(	PUNCT
afbr-403	25	6	1958	1958	NUM
afbr-403	25	7	)	)	PUNCT
afbr-403	25	8	milestone	milestone	NOUN
afbr-403	25	9	has	have	AUX
afbr-403	25	10	been	be	AUX
afbr-403	25	11	evaluated	evaluate	VERB
afbr-403	25	12	by	by	ADP
afbr-403	25	13	numerous	numerous	ADJ
afbr-403	25	14	theories	theory	NOUN
afbr-403	25	15	of	of	ADP
afbr-403	25	16	capital	capital	NOUN
afbr-403	25	17	structure	structure	NOUN
afbr-403	25	18	,	,	PUNCT
afbr-403	25	19	referring	refer	VERB
afbr-403	25	20	to	to	ADP
afbr-403	25	21	the	the	DET
afbr-403	25	22	condition	condition	NOUN
afbr-403	25	23	that	that	SCONJ
afbr-403	25	24	capital	capital	NOUN
afbr-403	25	25	structure	structure	NOUN
afbr-403	25	26	is	be	AUX
afbr-403	25	27	irrelevant	irrelevant	ADJ
afbr-403	25	28	to	to	ADP
afbr-403	25	29	the	the	DET
afbr-403	25	30	value	value	NOUN
afbr-403	25	31	of	of	ADP
afbr-403	25	32	the	the	DET
afbr-403	25	33	business	business	NOUN
afbr-403	25	34	.	.	PUNCT
afbr-403	26	1	miller	miller	PROPN
afbr-403	26	2	and	and	CCONJ
afbr-403	26	3	modigliani	modigliani	PROPN
afbr-403	26	4	used	use	VERB
afbr-403	26	5	the	the	DET
afbr-403	26	6	theory	theory	NOUN
afbr-403	26	7	of	of	ADP
afbr-403	26	8	insignificance	insignificance	NOUN
afbr-403	26	9	proposition	proposition	NOUN
afbr-403	26	10	as	as	ADP
afbr-403	26	11	a	a	DET
afbr-403	26	12	starting	starting	NOUN
afbr-403	26	13	point	point	NOUN
afbr-403	26	14	for	for	ADP
afbr-403	26	15	their	their	PRON
afbr-403	26	16	compensation	compensation	NOUN
afbr-403	26	17	theory	theory	NOUN
afbr-403	26	18	,	,	PUNCT
afbr-403	26	19	which	which	PRON
afbr-403	26	20	describes	describe	VERB
afbr-403	26	21	the	the	DET
afbr-403	26	22	idea	idea	NOUN
afbr-403	26	23	that	that	SCONJ
afbr-403	26	24	a	a	DET
afbr-403	26	25	company	company	NOUN
afbr-403	26	26	chooses	choose	VERB
afbr-403	26	27	how	how	SCONJ
afbr-403	26	28	much	much	ADJ
afbr-403	26	29	debt	debt	NOUN
afbr-403	26	30	financing	financing	NOUN
afbr-403	26	31	and	and	CCONJ
afbr-403	26	32	how	how	SCONJ
afbr-403	26	33	much	much	ADJ
afbr-403	26	34	capital	capital	NOUN
afbr-403	26	35	financing	financing	NOUN
afbr-403	26	36	to	to	PART
afbr-403	26	37	use	use	VERB
afbr-403	26	38	to	to	PART
afbr-403	26	39	balance	balance	VERB
afbr-403	26	40	costs	cost	NOUN
afbr-403	26	41	and	and	CCONJ
afbr-403	26	42	growth	growth	NOUN
afbr-403	26	43	.	.	PUNCT
afbr-403	27	1	criticism	criticism	NOUN
afbr-403	27	2	of	of	ADP
afbr-403	27	3	the	the	DET
afbr-403	27	4	irrelevant	irrelevant	ADJ
afbr-403	27	5	proposal	proposal	NOUN
afbr-403	27	6	theorem	theorem	VERB
afbr-403	27	7	,	,	PUNCT
afbr-403	27	8	however	however	ADV
afbr-403	27	9	,	,	PUNCT
afbr-403	27	10	focuses	focus	VERB
afbr-403	27	11	on	on	ADP
afbr-403	27	12	the	the	DET
afbr-403	27	13	lack	lack	NOUN
afbr-403	27	14	of	of	ADP
afbr-403	27	15	realism	realism	NOUN
afbr-403	27	16	to	to	PART
afbr-403	27	17	eliminate	eliminate	VERB
afbr-403	27	18	the	the	DET
afbr-403	27	19	impact	impact	NOUN
afbr-403	27	20	of	of	ADP
afbr-403	27	21	income	income	NOUN
afbr-403	27	22	tax	tax	NOUN
afbr-403	27	23	and	and	CCONJ
afbr-403	27	24	exemption	exemption	NOUN
afbr-403	27	25	costs	cost	NOUN
afbr-403	27	26	on	on	ADP
afbr-403	27	27	the	the	DET
afbr-403	27	28	capital	capital	NOUN
afbr-403	27	29	structure	structure	NOUN
afbr-403	27	30	of	of	ADP
afbr-403	27	31	a	a	DET
afbr-403	27	32	company	company	NOUN
afbr-403	27	33	.	.	PUNCT
afbr-403	28	1	since	since	SCONJ
afbr-403	28	2	the	the	DET
afbr-403	28	3	value	value	NOUN
afbr-403	28	4	of	of	ADP
afbr-403	28	5	a	a	DET
afbr-403	28	6	business	business	NOUN
afbr-403	28	7	is	be	AUX
afbr-403	28	8	affected	affect	VERB
afbr-403	28	9	by	by	ADP
afbr-403	28	10	many	many	ADJ
afbr-403	28	11	factors	factor	NOUN
afbr-403	28	12	,	,	PUNCT
afbr-403	28	13	including	include	VERB
afbr-403	28	14	profits	profit	NOUN
afbr-403	28	15	,	,	PUNCT
afbr-403	28	16	assets	asset	NOUN
afbr-403	28	17	and	and	CCONJ
afbr-403	28	18	market	market	NOUN
afbr-403	28	19	opportunities	opportunity	NOUN
afbr-403	28	20	,	,	PUNCT
afbr-403	28	21	it	it	PRON
afbr-403	28	22	becomes	become	VERB
afbr-403	28	23	difficult	difficult	ADJ
afbr-403	28	24	to	to	PART
afbr-403	28	25	prove	prove	VERB
afbr-403	28	26	the	the	DET
afbr-403	28	27	theorem	theorem	NOUN
afbr-403	28	28	.	.	PROPN
afbr-403	29	1	for	for	ADP
afbr-403	29	2	economists	economist	NOUN
afbr-403	29	3	,	,	PUNCT
afbr-403	29	4	theory	theory	NOUN
afbr-403	29	5	describes	describe	VERB
afbr-403	29	6	the	the	DET
afbr-403	29	7	importance	importance	NOUN
afbr-403	29	8	of	of	ADP
afbr-403	29	9	financial	financial	ADJ
afbr-403	29	10	decisions	decision	NOUN
afbr-403	29	11	rather	rather	ADV
afbr-403	29	12	than	than	ADP
afbr-403	29	13	describing	describe	VERB
afbr-403	29	14	how	how	SCONJ
afbr-403	29	15	financial	financial	ADJ
afbr-403	29	16	transactions	transaction	NOUN
afbr-403	29	17	work	work	VERB
afbr-403	29	18	.	.	PUNCT
afbr-403	30	1	in	in	ADP
afbr-403	30	2	addition	addition	NOUN
afbr-403	30	3	,	,	PUNCT
afbr-403	30	4	there	there	PRON
afbr-403	30	5	may	may	AUX
afbr-403	30	6	be	be	AUX
afbr-403	30	7	a	a	DET
afbr-403	30	8	positive	positive	ADJ
afbr-403	30	9	or	or	CCONJ
afbr-403	30	10	negative	negative	ADJ
afbr-403	30	11	relationship	relationship	NOUN
afbr-403	30	12	between	between	ADP
afbr-403	30	13	capital	capital	NOUN
afbr-403	30	14	and	and	CCONJ
afbr-403	30	15	the	the	DET
afbr-403	30	16	value	value	NOUN
afbr-403	30	17	of	of	ADP
afbr-403	30	18	the	the	DET
afbr-403	30	19	company	company	NOUN
afbr-403	30	20	in	in	ADP
afbr-403	30	21	the	the	DET
afbr-403	30	22	short	short	ADJ
afbr-403	30	23	term	term	NOUN
afbr-403	30	24	,	,	PUNCT
afbr-403	30	25	depending	depend	VERB
afbr-403	30	26	on	on	ADP
afbr-403	30	27	whether	whether	SCONJ
afbr-403	30	28	the	the	DET
afbr-403	30	29	bank	bank	NOUN
afbr-403	30	30	is	be	AUX
afbr-403	30	31	above	above	ADP
afbr-403	30	32	or	or	CCONJ
afbr-403	30	33	below	below	ADP
afbr-403	30	34	the	the	DET
afbr-403	30	35	optimal	optimal	ADJ
afbr-403	30	36	capital	capital	NOUN
afbr-403	30	37	index	index	NOUN
afbr-403	30	38	(	(	PUNCT
afbr-403	30	39	mathew	mathew	PROPN
afbr-403	30	40	et	et	PROPN
afbr-403	30	41	al	al	PROPN
afbr-403	30	42	.	.	PROPN
afbr-403	30	43	,	,	PUNCT
afbr-403	30	44	n.d	n.d	PROPN
afbr-403	30	45	)	)	PUNCT
afbr-403	30	46	.	.	PUNCT
afbr-403	31	1	"	"	PUNCT
afbr-403	31	2	the	the	DET
afbr-403	31	3	relationship	relationship	NOUN
afbr-403	31	4	between	between	ADP
afbr-403	31	5	capital	capital	NOUN
afbr-403	31	6	structure	structure	NOUN
afbr-403	31	7	and	and	CCONJ
afbr-403	31	8	the	the	DET
afbr-403	31	9	value	value	NOUN
afbr-403	31	10	of	of	ADP
afbr-403	31	11	the	the	DET
afbr-403	31	12	firm	firm	NOUN
afbr-403	31	13	has	have	AUX
afbr-403	31	14	long	long	ADV
afbr-403	31	15	been	be	AUX
afbr-403	31	16	a	a	DET
afbr-403	31	17	point	point	NOUN
afbr-403	31	18	of	of	ADP
afbr-403	31	19	controversy	controversy	NOUN
afbr-403	31	20	among	among	ADP
afbr-403	31	21	scholars	scholar	NOUN
afbr-403	31	22	in	in	ADP
afbr-403	31	23	corporate	corporate	ADJ
afbr-403	31	24	finance	finance	NOUN
afbr-403	31	25	,	,	PUNCT
afbr-403	31	26	since	since	SCONJ
afbr-403	31	27	the	the	DET
afbr-403	31	28	seminar	seminar	NOUN
afbr-403	31	29	work	work	NOUN
afbr-403	31	30	of	of	ADP
afbr-403	31	31	miller	miller	PROPN
afbr-403	31	32	and	and	CCONJ
afbr-403	31	33	modiglani	modiglani	NOUN
afbr-403	31	34	in	in	ADP
afbr-403	31	35	1959	1959	NUM
afbr-403	31	36	which	which	PRON
afbr-403	31	37	noted	note	VERB
afbr-403	31	38	that	that	SCONJ
afbr-403	31	39	capital	capital	NOUN
afbr-403	31	40	structure	structure	NOUN
afbr-403	31	41	is	be	AUX
afbr-403	31	42	irrelevant	irrelevant	ADJ
afbr-403	31	43	as	as	SCONJ
afbr-403	31	44	passed	pass	VERB
afbr-403	31	45	to	to	ADP
afbr-403	31	46	gordon	gordon	PROPN
afbr-403	31	47	copyright	copyright	NOUN
afbr-403	31	48	©	©	PROPN
afbr-403	31	49	cc	cc	PROPN
afbr-403	31	50	-	-	PUNCT
afbr-403	31	51	by	by	ADP
afbr-403	31	52	-	-	PUNCT
afbr-403	31	53	nc	nc	PROPN
afbr-403	31	54	2019	2019	NUM
afbr-403	31	55	,	,	PUNCT
afbr-403	31	56	cribfb	cribfb	PROPN
afbr-403	31	57	|	|	ADV
afbr-403	31	58	afbr	afbr	PROPN
afbr-403	31	59	www.cribfb.com/journal/index.php/afbr	www.cribfb.com/journal/index.php/afbr	ADJ
afbr-403	31	60	australian	australian	ADJ
afbr-403	31	61	finance	finance	PROPN
afbr-403	31	62	&	&	CCONJ
afbr-403	31	63	banking	banking	PROPN
afbr-403	31	64	review	review	PROPN
afbr-403	31	65	vol	vol	NOUN
afbr-403	31	66	.	.	PROPN
afbr-403	32	1	3	3	NUM
afbr-403	32	2	,	,	PUNCT
afbr-403	32	3	no	no	INTJ
afbr-403	32	4	.	.	NOUN
afbr-403	32	5	2	2	NUM
afbr-403	32	6	;	;	PUNCT
afbr-403	32	7	2019	2019	NUM
afbr-403	32	8	2	2	NUM
afbr-403	32	9	view	view	NOUN
afbr-403	32	10	that	that	SCONJ
afbr-403	32	11	it	it	PRON
afbr-403	32	12	is	be	AUX
afbr-403	32	13	relevant	relevant	ADJ
afbr-403	32	14	.	.	PUNCT
afbr-403	33	1	more	more	ADJ
afbr-403	33	2	of	of	ADP
afbr-403	33	3	the	the	DET
afbr-403	33	4	empirical	empirical	ADJ
afbr-403	33	5	evidence	evidence	NOUN
afbr-403	33	6	supports	support	VERB
afbr-403	33	7	the	the	DET
afbr-403	33	8	relevant	relevant	ADJ
afbr-403	33	9	view	view	NOUN
afbr-403	33	10	of	of	ADP
afbr-403	33	11	"	"	PUNCT
afbr-403	33	12	gordons	gordon	NOUN
afbr-403	33	13	,	,	PUNCT
afbr-403	33	14	delbor	delbor	NOUN
afbr-403	33	15	et	et	PROPN
afbr-403	33	16	al	al	PROPN
afbr-403	33	17	(	(	PUNCT
afbr-403	33	18	2007	2007	NUM
afbr-403	33	19	)	)	PUNCT
afbr-403	33	20	,	,	PUNCT
afbr-403	33	21	cheng	cheng	PROPN
afbr-403	33	22	and	and	CCONJ
afbr-403	33	23	izeng	izeng	PROPN
afbr-403	33	24	(	(	PUNCT
afbr-403	33	25	2011	2011	NUM
afbr-403	33	26	)	)	PUNCT
afbr-403	33	27	,	,	PUNCT
afbr-403	33	28	suderat	suderat	VERB
afbr-403	33	29	et	et	PROPN
afbr-403	33	30	al	al	PROPN
afbr-403	33	31	.	.	PROPN
afbr-403	33	32	,	,	PUNCT
afbr-403	33	33	(	(	PUNCT
afbr-403	33	34	2012	2012	NUM
afbr-403	33	35	)	)	PUNCT
afbr-403	33	36	,	,	PUNCT
afbr-403	33	37	rathinasamy	rathinasamy	PROPN
afbr-403	33	38	et	et	PROPN
afbr-403	33	39	al	al	PROPN
afbr-403	33	40	.	.	PROPN
afbr-403	33	41	,	,	PUNCT
afbr-403	33	42	(	(	PUNCT
afbr-403	33	43	2000	2000	NUM
afbr-403	33	44	)	)	PUNCT
afbr-403	33	45	,	,	PUNCT
afbr-403	33	46	altan	altan	PROPN
afbr-403	33	47	and	and	CCONJ
afbr-403	33	48	arkan	arkan	ADJ
afbr-403	33	49	(	(	PUNCT
afbr-403	33	50	2011	2011	NUM
afbr-403	33	51	)	)	PUNCT
afbr-403	33	52	,	,	PUNCT
afbr-403	33	53	ugbuhe	ugbuhe	PROPN
afbr-403	33	54	and	and	CCONJ
afbr-403	33	55	emeni	emeni	NOUN
afbr-403	33	56	(	(	PUNCT
afbr-403	33	57	2012	2012	NUM
afbr-403	33	58	)	)	PUNCT
afbr-403	33	59	while	while	SCONJ
afbr-403	33	60	"	"	PUNCT
afbr-403	33	61	few	few	ADJ
afbr-403	33	62	evidence	evidence	NOUN
afbr-403	33	63	supports	support	VERB
afbr-403	33	64	to	to	ADP
afbr-403	33	65	irrelevant	irrelevant	ADJ
afbr-403	33	66	view	view	NOUN
afbr-403	33	67	aggarwary	aggarwary	ADJ
afbr-403	33	68	and	and	CCONJ
afbr-403	33	69	zhao	zhao	PROPN
afbr-403	33	70	(	(	PUNCT
afbr-403	33	71	2007	2007	NUM
afbr-403	33	72	)	)	PUNCT
afbr-403	33	73	,	,	PUNCT
afbr-403	33	74	rayan	rayan	PROPN
afbr-403	33	75	2008	2008	NUM
afbr-403	33	76	,	,	PUNCT
afbr-403	33	77	aggarval	aggarval	NOUN
afbr-403	33	78	et	et	PROPN
afbr-403	33	79	al	al	PROPN
afbr-403	33	80	.	.	PROPN
afbr-403	33	81	,	,	PUNCT
afbr-403	33	82	(	(	PUNCT
afbr-403	33	83	2011	2011	NUM
afbr-403	33	84	)	)	PUNCT
afbr-403	33	85	.	.	PUNCT
afbr-403	34	1	this	this	DET
afbr-403	34	2	study	study	NOUN
afbr-403	34	3	tests	test	VERB
afbr-403	34	4	the	the	DET
afbr-403	34	5	validity	validity	NOUN
afbr-403	34	6	of	of	ADP
afbr-403	34	7	mm	mm	PROPN
afbr-403	34	8	hypothesis	hypothesis	NOUN
afbr-403	34	9	on	on	ADP
afbr-403	34	10	capital	capital	NOUN
afbr-403	34	11	structure	structure	NOUN
afbr-403	34	12	irrelevance	irrelevance	NOUN
afbr-403	34	13	.	.	PUNCT
afbr-403	34	14	"	"	PUNCT
afbr-403	35	1	2	2	X
afbr-403	35	2	.	.	X
afbr-403	35	3	literature	literature	NOUN
afbr-403	35	4	review	review	VERB
afbr-403	35	5	theoretical	theoretical	ADJ
afbr-403	35	6	bases	basis	NOUN
afbr-403	35	7	of	of	ADP
afbr-403	35	8	capital	capital	NOUN
afbr-403	35	9	structure	structure	NOUN
afbr-403	35	10	and	and	CCONJ
afbr-403	35	11	value	value	NOUN
afbr-403	35	12	of	of	ADP
afbr-403	35	13	firms	firm	NOUN
afbr-403	35	14	the	the	DET
afbr-403	35	15	net	net	ADJ
afbr-403	35	16	income	income	NOUN
afbr-403	35	17	and	and	CCONJ
afbr-403	35	18	the	the	DET
afbr-403	35	19	traditional	traditional	ADJ
afbr-403	35	20	views	view	NOUN
afbr-403	35	21	there	there	PRON
afbr-403	35	22	are	be	VERB
afbr-403	35	23	several	several	ADJ
afbr-403	35	24	variants	variant	NOUN
afbr-403	35	25	of	of	ADP
afbr-403	35	26	traditional	traditional	ADJ
afbr-403	35	27	theory	theory	NOUN
afbr-403	35	28	.	.	PUNCT
afbr-403	36	1	but	but	CCONJ
afbr-403	36	2	the	the	DET
afbr-403	36	3	central	central	ADJ
afbr-403	36	4	point	point	NOUN
afbr-403	36	5	of	of	ADP
afbr-403	36	6	all	all	DET
afbr-403	36	7	standpoints	standpoint	NOUN
afbr-403	36	8	is	be	AUX
afbr-403	36	9	that	that	SCONJ
afbr-403	36	10	capital	capital	NOUN
afbr-403	36	11	structure	structure	NOUN
afbr-403	36	12	matters	matter	VERB
afbr-403	36	13	.	.	PUNCT
afbr-403	37	1	the	the	DET
afbr-403	37	2	earlier	early	ADJ
afbr-403	37	3	version	version	NOUN
afbr-403	37	4	of	of	ADP
afbr-403	37	5	the	the	DET
afbr-403	37	6	notion	notion	NOUN
afbr-403	37	7	that	that	SCONJ
afbr-403	37	8	capital	capital	NOUN
afbr-403	37	9	structure	structure	NOUN
afbr-403	37	10	is	be	AUX
afbr-403	37	11	appropriate	appropriate	ADJ
afbr-403	37	12	is	be	AUX
afbr-403	37	13	network	network	NOUN
afbr-403	37	14	the	the	DET
afbr-403	37	15	net	net	ADJ
afbr-403	37	16	income	income	NOUN
afbr-403	37	17	approach	approach	NOUN
afbr-403	37	18	"	"	PUNCT
afbr-403	37	19	value	value	NOUN
afbr-403	37	20	of	of	ADP
afbr-403	37	21	equity	equity	NOUN
afbr-403	37	22	=	=	SYM
afbr-403	37	23	discounted	discount	VERB
afbr-403	37	24	value	value	NOUN
afbr-403	37	25	of	of	ADP
afbr-403	37	26	net	net	ADJ
afbr-403	37	27	income	income	NOUN
afbr-403	37	28	ek	ek	PROPN
afbr-403	37	29	ni	ni	PROPN
afbr-403	37	30	equityofcost	equityofcost	NOUN
afbr-403	37	31	incomenet	incomenet	NOUN
afbr-403	37	32	e	e	NOUN
afbr-403	37	33			NUM
afbr-403	37	34	3	3	NUM
afbr-403	37	35	dk	dk	PROPN
afbr-403	37	36	int	int	NOUN
afbr-403	37	37	debtofcost	debtofcost	NOUN
afbr-403	37	38	interest	interest	NOUN
afbr-403	37	39	e	e	NOUN
afbr-403	37	40			NUM
afbr-403	37	41	4	4	NUM
afbr-403	37	42	therefore	therefore	ADV
afbr-403	37	43	,	,	PUNCT
afbr-403	37	44	the	the	DET
afbr-403	37	45	firm	firm	NOUN
afbr-403	37	46	’s	’s	PART
afbr-403	37	47	overall	overall	ADJ
afbr-403	37	48	expected	expect	VERB
afbr-403	37	49	rate	rate	NOUN
afbr-403	37	50	of	of	ADP
afbr-403	37	51	return	return	NOUN
afbr-403	37	52	or	or	CCONJ
afbr-403	37	53	the	the	DET
afbr-403	37	54	cost	cost	NOUN
afbr-403	37	55	of	of	ADP
afbr-403	37	56	capital	capital	NOUN
afbr-403	37	57	is	be	AUX
afbr-403	37	58	"	"	PUNCT
afbr-403	37	59	:	:	PUNCT
afbr-403	37	60	firmtheofvalue	firmtheofvalue	NOUN
afbr-403	37	61	incomeoperationnet	incomeoperationnet	VERB
afbr-403	37	62	capitaloftsfirm	capitaloftsfirm	ADJ
afbr-403	37	63	cos	co	NOUN
afbr-403	37	64	'	'	PART
afbr-403	37	65	5	5	NUM
afbr-403	37	66	v	v	PROPN
afbr-403	37	67	noi	noi	PROPN
afbr-403	37	68	ko	ko	PROPN
afbr-403	37	69			PROPN
afbr-403	37	70	5	5	NUM
afbr-403	37	71	the	the	DET
afbr-403	37	72	total	total	ADJ
afbr-403	37	73	cost	cost	NOUN
afbr-403	37	74	of	of	ADP
afbr-403	37	75	capital	capital	NOUN
afbr-403	37	76	of	of	ADP
afbr-403	37	77	a	a	DET
afbr-403	37	78	company	company	NOUN
afbr-403	37	79	is	be	AUX
afbr-403	37	80	the	the	DET
afbr-403	37	81	weighted	weighted	ADJ
afbr-403	37	82	average	average	ADJ
afbr-403	37	83	cost	cost	NOUN
afbr-403	37	84	of	of	ADP
afbr-403	37	85	capital	capital	NOUN
afbr-403	37	86	(	(	PUNCT
afbr-403	37	87	wacc	wacc	PROPN
afbr-403	37	88	)	)	PUNCT
afbr-403	37	89	.	.	PUNCT
afbr-403	38	1	there	there	PRON
afbr-403	38	2	is	be	VERB
afbr-403	38	3	an	an	DET
afbr-403	38	4	alternative	alternative	ADJ
afbr-403	38	5	way	way	NOUN
afbr-403	38	6	to	to	PART
afbr-403	38	7	calculate	calculate	VERB
afbr-403	38	8	wacc	wacc	PROPN
afbr-403	38	9	(	(	PUNCT
afbr-403	38	10	k0	k0	PROPN
afbr-403	38	11	)	)	PUNCT
afbr-403	38	12	.	.	PUNCT
afbr-403	39	1	wacc	wacc	PROPN
afbr-403	39	2	is	be	AUX
afbr-403	39	3	the	the	DET
afbr-403	39	4	weighted	weighted	ADJ
afbr-403	39	5	average	average	NOUN
afbr-403	39	6	of	of	ADP
afbr-403	39	7	the	the	DET
afbr-403	39	8	costs	cost	NOUN
afbr-403	39	9	of	of	ADP
afbr-403	39	10	all	all	DET
afbr-403	39	11	company	company	NOUN
afbr-403	39	12	values	value	NOUN
afbr-403	39	13	.	.	PUNCT
afbr-403	40	1	company	company	NOUN
afbr-403	40	2	l	l	NOUN
afbr-403	40	3	values	value	NOUN
afbr-403	40	4	include	include	VERB
afbr-403	40	5	debt	debt	NOUN
afbr-403	40	6	and	and	CCONJ
afbr-403	40	7	equity	equity	NOUN
afbr-403	40	8	.	.	PUNCT
afbr-403	41	1	wacc	wacc	PROPN
afbr-403	41	2	=	=	PUNCT
afbr-403	42	1	cost	cost	NOUN
afbr-403	42	2	of	of	ADP
afbr-403	42	3	equity	equity	NOUN
afbr-403	42	4	x	x	SYM
afbr-403	42	5	equity	equity	NOUN
afbr-403	42	6	weight	weight	NOUN
afbr-403	42	7	+	+	CCONJ
afbr-403	42	8	cost	cost	NOUN
afbr-403	42	9	of	of	ADP
afbr-403	42	10	debt	debt	NOUN
afbr-403	42	11	x	x	PUNCT
afbr-403	42	12	debt	debt	NOUN
afbr-403	42	13	weight	weight	NOUN
afbr-403	42	14	v	v	NOUN
afbr-403	42	15	d	d	X
afbr-403	42	16	k	k	PROPN
afbr-403	42	17	v	v	X
afbr-403	42	18	e	e	X
afbr-403	42	19	kk	kk	PROPN
afbr-403	42	20	deo	deo	PROPN
afbr-403	42	21			PROPN
afbr-403	42	22	6	6	NUM
afbr-403	42	23	suppose	suppose	VERB
afbr-403	42	24	"	"	PUNCT
afbr-403	42	25	firm	firm	ADJ
afbr-403	42	26	l	l	NOUN
afbr-403	42	27	operates	operate	VERB
afbr-403	42	28	in	in	ADP
afbr-403	42	29	a	a	DET
afbr-403	42	30	frictionless	frictionless	ADJ
afbr-403	42	31	world	world	NOUN
afbr-403	42	32	.	.	PUNCT
afbr-403	43	1	there	there	PRON
afbr-403	43	2	are	be	VERB
afbr-403	43	3	no	no	DET
afbr-403	43	4	taxes	taxis	NOUN
afbr-403	43	5	and	and	CCONJ
afbr-403	43	6	transaction	transaction	NOUN
afbr-403	43	7	costs	cost	NOUN
afbr-403	43	8	and	and	CCONJ
afbr-403	43	9	debt	debt	NOUN
afbr-403	43	10	is	be	AUX
afbr-403	43	11	risk	risk	NOUN
afbr-403	43	12	-	-	PUNCT
afbr-403	43	13	free	free	ADJ
afbr-403	43	14	and	and	CCONJ
afbr-403	43	15	shareholders	shareholder	NOUN
afbr-403	43	16	perceive	perceive	VERB
afbr-403	43	17	no	no	DET
afbr-403	43	18	financial	financial	ADJ
afbr-403	43	19	risk	risk	NOUN
afbr-403	43	20	arising	arise	VERB
afbr-403	43	21	from	from	ADP
afbr-403	43	22	the	the	DET
afbr-403	43	23	use	use	NOUN
afbr-403	43	24	of	of	ADP
afbr-403	43	25	debt	debt	NOUN
afbr-403	43	26	.	.	PUNCT
afbr-403	44	1	under	under	ADP
afbr-403	44	2	these	these	DET
afbr-403	44	3	conditions	condition	NOUN
afbr-403	44	4	,	,	PUNCT
afbr-403	44	5	the	the	DET
afbr-403	44	6	cost	cost	NOUN
afbr-403	44	7	of	of	ADP
afbr-403	44	8	equity	equity	NOUN
afbr-403	44	9	,	,	PUNCT
afbr-403	44	10	ke	ke	PROPN
afbr-403	44	11	and	and	CCONJ
afbr-403	44	12	the	the	DET
afbr-403	44	13	cost	cost	NOUN
afbr-403	44	14	of	of	ADP
afbr-403	44	15	debt	debt	NOUN
afbr-403	44	16	,	,	PUNCT
afbr-403	44	17	k	k	PROPN
afbr-403	44	18	,	,	PUNCT
afbr-403	44	19	will	will	AUX
afbr-403	44	20	remain	remain	VERB
afbr-403	44	21	constant	constant	ADJ
afbr-403	44	22	with	with	ADP
afbr-403	44	23	financial	financial	ADJ
afbr-403	44	24	leverage	leverage	NOUN
afbr-403	44	25	.	.	PUNCT
afbr-403	45	1	since	since	SCONJ
afbr-403	45	2	debt	debt	NOUN
afbr-403	45	3	is	be	AUX
afbr-403	45	4	a	a	DET
afbr-403	45	5	cheaper	cheap	ADJ
afbr-403	45	6	source	source	NOUN
afbr-403	45	7	of	of	ADP
afbr-403	45	8	finance	finance	NOUN
afbr-403	45	9	than	than	ADP
afbr-403	45	10	equity	equity	NOUN
afbr-403	45	11	,	,	PUNCT
afbr-403	45	12	the	the	DET
afbr-403	45	13	firm	firm	NOUN
afbr-403	45	14	’s	’s	PART
afbr-403	45	15	weighted	weighted	ADJ
afbr-403	45	16	average	average	ADJ
afbr-403	45	17	cost	cost	NOUN
afbr-403	45	18	of	of	ADP
afbr-403	45	19	capital	capital	NOUN
afbr-403	45	20	will	will	AUX
afbr-403	45	21	reduce	reduce	VERB
afbr-403	45	22	with	with	ADP
afbr-403	45	23	financial	financial	ADJ
afbr-403	45	24	leverage	leverage	NOUN
afbr-403	45	25	.	.	PUNCT
afbr-403	46	1	suppose	suppose	VERB
afbr-403	46	2	firm	firm	PROPN
afbr-403	46	3	l	l	PROPN
afbr-403	46	4	’s	’s	PART
afbr-403	46	5	substitute	substitute	NOUN
afbr-403	46	6	,	,	PUNCT
afbr-403	46	7	debt	debt	NOUN
afbr-403	46	8	for	for	ADP
afbr-403	46	9	equity	equity	NOUN
afbr-403	46	10	and	and	CCONJ
afbr-403	46	11	raises	raise	VERB
afbr-403	46	12	its	its	PRON
afbr-403	46	13	debt	debt	NOUN
afbr-403	46	14	ratio	ratio	NOUN
afbr-403	46	15	to	to	ADP
afbr-403	46	16	90	90	NUM
afbr-403	46	17	per	per	ADP
afbr-403	46	18	cent	cent	NOUN
afbr-403	46	19	.	.	PUNCT
afbr-403	46	20	"	"	PUNCT
afbr-403	47	1	rearranging	rearrange	VERB
afbr-403	47	2	equation	equation	NOUN
afbr-403	47	3	(	(	PUNCT
afbr-403	47	4	5	5	NUM
afbr-403	47	5	)	)	PUNCT
afbr-403	47	6	,	,	PUNCT
afbr-403	47	7	we	we	PRON
afbr-403	47	8	get	get	VERB
afbr-403	47	9	v	v	NOUN
afbr-403	48	1	d	d	X
afbr-403	48	2	k	k	PROPN
afbr-403	48	3	v	v	PROPN
afbr-403	49	1	d	d	X
afbr-403	49	2	kkwacc	kkwacc	PROPN
afbr-403	49	3	deo	deo	PROPN
afbr-403	49	4			PROPN
afbr-403	49	5			PROPN
afbr-403	49	6			PROPN
afbr-403	49	7			PROPN
afbr-403	49	8			PROPN
afbr-403	49	9			NOUN
afbr-403	50	1			ADP
afbr-403	50	2	1	1	NUM
afbr-403	50	3	7	7	NUM
afbr-403	50	4			NOUN
afbr-403	50	5			PROPN
afbr-403	50	6	v	v	NOUN
afbr-403	50	7	d	d	PROPN
afbr-403	50	8	kkkkwacc	kkkkwacc	NOUN
afbr-403	50	9	deeo	deeo	NOUN
afbr-403	50	10			NOUN
afbr-403	50	11	8	8	NUM
afbr-403	50	12	copyright	copyright	NOUN
afbr-403	50	13	©	©	PROPN
afbr-403	50	14	cc	cc	PROPN
afbr-403	50	15	-	-	PUNCT
afbr-403	50	16	by	by	ADP
afbr-403	50	17	-	-	PUNCT
afbr-403	50	18	nc	nc	PROPN
afbr-403	50	19	2019	2019	NUM
afbr-403	50	20	,	,	PUNCT
afbr-403	50	21	cribfb	cribfb	PROPN
afbr-403	50	22	|	|	ADV
afbr-403	50	23	afbr	afbr	PROPN
afbr-403	50	24	www.cribfb.com/journal/index.php/afbr	www.cribfb.com/journal/index.php/afbr	ADJ
afbr-403	50	25	australian	australian	ADJ
afbr-403	50	26	finance	finance	PROPN
afbr-403	50	27	&	&	CCONJ
afbr-403	50	28	banking	banking	PROPN
afbr-403	50	29	review	review	PROPN
afbr-403	50	30	vol	vol	NOUN
afbr-403	50	31	.	.	PROPN
afbr-403	51	1	3	3	NUM
afbr-403	51	2	,	,	PUNCT
afbr-403	51	3	no	no	INTJ
afbr-403	51	4	.	.	NOUN
afbr-403	51	5	2	2	NUM
afbr-403	51	6	;	;	PUNCT
afbr-403	51	7	2019	2019	NUM
afbr-403	51	8	3	3	NUM
afbr-403	51	9	"	"	PUNCT
afbr-403	51	10	equation	equation	NOUN
afbr-403	51	11	(	(	PUNCT
afbr-403	51	12	6	6	NUM
afbr-403	51	13	)	)	PUNCT
afbr-403	51	14	that	that	PRON
afbr-403	51	15	,	,	PUNCT
afbr-403	51	16	given	give	VERB
afbr-403	51	17	constant	constant	ADJ
afbr-403	51	18	cost	cost	NOUN
afbr-403	51	19	of	of	ADP
afbr-403	51	20	equity	equity	NOUN
afbr-403	51	21	,	,	PUNCT
afbr-403	51	22	ke	ke	NOUN
afbr-403	51	23	and	and	CCONJ
afbr-403	51	24	cost	cost	NOUN
afbr-403	51	25	of	of	ADP
afbr-403	51	26	debt	debt	NOUN
afbr-403	51	27	,	,	PUNCT
afbr-403	51	28	kd	kd	PROPN
afbr-403	51	29	,	,	PUNCT
afbr-403	51	30	and	and	CCONJ
afbr-403	51	31	kd	kd	PROPN
afbr-403	51	32	less	less	ADJ
afbr-403	51	33	than	than	ADP
afbr-403	51	34	ke	ke	PROPN
afbr-403	51	35	,	,	PUNCT
afbr-403	51	36	the	the	DET
afbr-403	51	37	weighted	weighted	ADJ
afbr-403	51	38	average	average	ADJ
afbr-403	51	39	cost	cost	NOUN
afbr-403	51	40	of	of	ADP
afbr-403	51	41	capital	capital	NOUN
afbr-403	51	42	,	,	PUNCT
afbr-403	51	43	k0	k0	PROPN
afbr-403	51	44	,	,	PUNCT
afbr-403	51	45	will	will	AUX
afbr-403	51	46	decrease	decrease	VERB
afbr-403	51	47	continuously	continuously	ADV
afbr-403	51	48	with	with	ADP
afbr-403	51	49	financial	financial	ADJ
afbr-403	51	50	leverage	leverage	NOUN
afbr-403	51	51	,	,	PUNCT
afbr-403	51	52	measured	measure	VERB
afbr-403	51	53	by	by	ADP
afbr-403	51	54	d	d	PROPN
afbr-403	51	55	/	/	SYM
afbr-403	51	56	v.	v.	VERB
afbr-403	51	57	you	you	PRON
afbr-403	51	58	may	may	AUX
afbr-403	51	59	also	also	ADV
afbr-403	51	60	notice	notice	VERB
afbr-403	51	61	that	that	SCONJ
afbr-403	51	62	k0	k0	PROPN
afbr-403	51	63	equals	equal	VERB
afbr-403	51	64	the	the	DET
afbr-403	51	65	cost	cost	NOUN
afbr-403	51	66	of	of	ADP
afbr-403	51	67	equity	equity	NOUN
afbr-403	51	68	,	,	PUNCT
afbr-403	51	69	ke	ke	PROPN
afbr-403	51	70	minus	minus	ADP
afbr-403	51	71	the	the	DET
afbr-403	51	72	spread	spread	NOUN
afbr-403	51	73	between	between	ADP
afbr-403	51	74	the	the	DET
afbr-403	51	75	cost	cost	NOUN
afbr-403	51	76	of	of	ADP
afbr-403	51	77	equity	equity	NOUN
afbr-403	51	78	and	and	CCONJ
afbr-403	51	79	the	the	DET
afbr-403	51	80	cost	cost	NOUN
afbr-403	51	81	of	of	ADP
afbr-403	51	82	debt	debt	NOUN
afbr-403	51	83	times	time	NOUN
afbr-403	51	84	d	d	PROPN
afbr-403	51	85	/	/	SYM
afbr-403	51	86	v.	v.	PROPN
afbr-403	51	87	wacc	wacc	PROPN
afbr-403	51	88	,	,	PUNCT
afbr-403	51	89	ic0	ic0	ADV
afbr-403	51	90	,	,	PUNCT
afbr-403	51	91	will	will	AUX
afbr-403	51	92	be	be	AUX
afbr-403	51	93	equal	equal	ADJ
afbr-403	51	94	to	to	ADP
afbr-403	51	95	the	the	DET
afbr-403	51	96	cost	cost	NOUN
afbr-403	51	97	of	of	ADP
afbr-403	51	98	equity	equity	NOUN
afbr-403	51	99	,	,	PUNCT
afbr-403	51	100	k	k	PROPN
afbr-403	51	101	e	e	PROPN
afbr-403	51	102	if	if	SCONJ
afbr-403	51	103	the	the	DET
afbr-403	51	104	firm	firm	NOUN
afbr-403	51	105	does	do	AUX
afbr-403	51	106	not	not	PART
afbr-403	51	107	employ	employ	VERB
afbr-403	51	108	any	any	DET
afbr-403	51	109	debt	debt	NOUN
afbr-403	51	110	(	(	PUNCT
afbr-403	51	111	i.e.	i.e.	X
afbr-403	51	112	d	d	X
afbr-403	51	113	/	/	SYM
afbr-403	51	114	v	v	NOUN
afbr-403	51	115	0	0	NUM
afbr-403	51	116	)	)	PUNCT
afbr-403	51	117	,	,	PUNCT
afbr-403	51	118	and	and	CCONJ
afbr-403	51	119	k0	k0	PROPN
afbr-403	51	120	,	,	PUNCT
afbr-403	51	121	will	will	AUX
afbr-403	51	122	approach	approach	VERB
afbr-403	51	123	kd	kd	PROPN
afbr-403	51	124	,	,	PUNCT
afbr-403	51	125	as	as	ADP
afbr-403	51	126	d	d	PROPN
afbr-403	51	127	/	/	SYM
afbr-403	51	128	v	v	NOUN
afbr-403	51	129	approaches	approach	VERB
afbr-403	51	130	one	one	NUM
afbr-403	51	131	(	(	PUNCT
afbr-403	51	132	or100	or100	PROPN
afbr-403	51	133	per	per	ADP
afbr-403	51	134	cent	cent	NOUN
afbr-403	51	135	)	)	PUNCT
afbr-403	51	136	.	.	PUNCT
afbr-403	52	1	under	under	ADP
afbr-403	52	2	the	the	DET
afbr-403	52	3	assumption	assumption	NOUN
afbr-403	52	4	that	that	SCONJ
afbr-403	52	5	ke	ke	PROPN
afbr-403	52	6	and	and	CCONJ
afbr-403	52	7	kd	kd	PROPN
afbr-403	52	8	remain	remain	VERB
afbr-403	52	9	constant	constant	ADJ
afbr-403	52	10	,	,	PUNCT
afbr-403	52	11	the	the	DET
afbr-403	52	12	value	value	NOUN
afbr-403	52	13	of	of	ADP
afbr-403	52	14	the	the	DET
afbr-403	52	15	firm	firm	NOUN
afbr-403	52	16	will	will	AUX
afbr-403	52	17	be	be	AUX
afbr-403	52	18	"	"	PUNCT
afbr-403	52	19	:	:	PUNCT
afbr-403	52	20	de	de	PROPN
afbr-403	52	21	k	k	X
afbr-403	52	22	int	int	PROPN
afbr-403	52	23	k	k	PROPN
afbr-403	52	24	intnoi	intnoi	PROPN
afbr-403	52	25	dev	dev	PROPN
afbr-403	52	26			PUNCT
afbr-403	52	27			PROPN
afbr-403	52	28			VERB
afbr-403	52	29	9	9	NUM
afbr-403	52	30	d	d	SYM
afbr-403	52	31	k	k	X
afbr-403	52	32	dknoi	dknoi	PROPN
afbr-403	53	1	k	k	INTJ
afbr-403	53	2	dk	dk	X
afbr-403	53	3	k	k	PROPN
afbr-403	53	4	dknoi	dknoi	PROPN
afbr-403	53	5	e	e	PROPN
afbr-403	53	6	d	d	PROPN
afbr-403	53	7	d	d	X
afbr-403	53	8	d	d	X
afbr-403	53	9	e	e	X
afbr-403	53	10	d	d	PROPN
afbr-403	53	11			X
afbr-403	53	12			X
afbr-403	53	13			ADP
afbr-403	53	14			PROPN
afbr-403	53	15			PROPN
afbr-403	53	16	10	10	NUM
afbr-403	53	17	e	e	NOUN
afbr-403	53	18	d	d	X
afbr-403	53	19	e	e	X
afbr-403	53	20	k	k	NOUN
afbr-403	53	21	dk	dk	PROPN
afbr-403	53	22	d	d	PROPN
afbr-403	53	23	k	k	PROPN
afbr-403	53	24	noi	noi	PROPN
afbr-403	53	25			PROPN
afbr-403	53	26	11	11	NUM
afbr-403	53	27			PROPN
afbr-403	53	28			PROPN
afbr-403	53	29			NOUN
afbr-403	53	30			PROPN
afbr-403	53	31			PROPN
afbr-403	53	32			PROPN
afbr-403	54	1			PROPN
afbr-403	54	2			NOUN
afbr-403	54	3			PRON
afbr-403	54	4	e	e	NOUN
afbr-403	54	5	d	d	X
afbr-403	54	6	e	e	X
afbr-403	54	7	k	k	PROPN
afbr-403	54	8	k	k	PROPN
afbr-403	54	9	d	d	PROPN
afbr-403	54	10	k	k	PROPN
afbr-403	54	11	noi	noi	PROPN
afbr-403	54	12	v	v	NOUN
afbr-403	54	13	1	1	NUM
afbr-403	54	14	12	12	NUM
afbr-403	54	15	the	the	DET
afbr-403	54	16	"	"	PUNCT
afbr-403	54	17	cost	cost	NOUN
afbr-403	54	18	of	of	ADP
afbr-403	54	19	dept	dept	NOUN
afbr-403	54	20	with	with	ADP
afbr-403	54	21	100	100	NUM
afbr-403	54	22	per	per	ADP
afbr-403	54	23	cent	cent	NOUN
afbr-403	54	24	debt	debt	NOUN
afbr-403	54	25	ratio	ratio	NOUN
afbr-403	54	26	(	(	PUNCT
afbr-403	54	27	d	d	X
afbr-403	54	28	/	/	SYM
afbr-403	54	29	v),the	v),the	DET
afbr-403	54	30	optimum	optimum	ADJ
afbr-403	54	31	capital	capital	NOUN
afbr-403	54	32	structure	structure	NOUN
afbr-403	54	33	occurs	occur	VERB
afbr-403	54	34	at	at	ADP
afbr-403	54	35	the	the	DET
afbr-403	54	36	point	point	NOUN
afbr-403	54	37	of	of	ADP
afbr-403	54	38	minimum	minimum	PROPN
afbr-403	54	39	wacc	wacc	PROPN
afbr-403	54	40	.	.	PUNCT
afbr-403	55	1	under	under	ADP
afbr-403	55	2	the	the	DET
afbr-403	55	3	ni	ni	PROPN
afbr-403	55	4	approach	approach	NOUN
afbr-403	55	5	,	,	PUNCT
afbr-403	55	6	the	the	DET
afbr-403	55	7	firm	firm	NOUN
afbr-403	55	8	will	will	AUX
afbr-403	55	9	have	have	VERB
afbr-403	55	10	the	the	DET
afbr-403	55	11	maximum	maximum	ADJ
afbr-403	55	12	value	value	NOUN
afbr-403	55	13	and	and	CCONJ
afbr-403	55	14	minimum	minimum	NOUN
afbr-403	55	15	wacc	wacc	PROPN
afbr-403	55	16	when	when	SCONJ
afbr-403	55	17	it	it	PRON
afbr-403	55	18	is	be	AUX
afbr-403	55	19	100	100	NUM
afbr-403	55	20	per	per	ADP
afbr-403	55	21	cent	cent	NOUN
afbr-403	55	22	debt	debt	NOUN
afbr-403	55	23	-	-	PUNCT
afbr-403	55	24	financed	finance	VERB
afbr-403	55	25	.	.	PUNCT
afbr-403	56	1	the	the	DET
afbr-403	56	2	traditional	traditional	ADJ
afbr-403	56	3	view	view	NOUN
afbr-403	56	4	the	the	DET
afbr-403	56	5	traditional	traditional	ADJ
afbr-403	56	6	view	view	NOUN
afbr-403	56	7	has	have	AUX
afbr-403	56	8	emerged	emerge	VERB
afbr-403	56	9	as	as	ADP
afbr-403	56	10	a	a	DET
afbr-403	56	11	compromise	compromise	NOUN
afbr-403	56	12	to	to	ADP
afbr-403	56	13	the	the	DET
afbr-403	56	14	extreme	extreme	ADJ
afbr-403	56	15	position	position	NOUN
afbr-403	56	16	taken	take	VERB
afbr-403	56	17	by	by	ADP
afbr-403	56	18	the	the	DET
afbr-403	56	19	ni	ni	PROPN
afbr-403	56	20	approach	approach	NOUN
afbr-403	56	21	.	.	PUNCT
afbr-403	57	1	like	like	ADP
afbr-403	57	2	the	the	DET
afbr-403	57	3	ni	ni	PROPN
afbr-403	57	4	approach	approach	NOUN
afbr-403	57	5	,	,	PUNCT
afbr-403	57	6	it	it	PRON
afbr-403	57	7	does	do	AUX
afbr-403	57	8	not	not	PART
afbr-403	57	9	assume	assume	VERB
afbr-403	57	10	constant	constant	ADJ
afbr-403	57	11	cost	cost	NOUN
afbr-403	57	12	of	of	ADP
afbr-403	57	13	equity	equity	NOUN
afbr-403	57	14	with	with	ADP
afbr-403	57	15	financial	financial	ADJ
afbr-403	57	16	leverage	leverage	NOUN
afbr-403	57	17	and	and	CCONJ
afbr-403	57	18	continuously	continuously	ADV
afbr-403	57	19	declining	decline	VERB
afbr-403	57	20	wacc	wacc	PROPN
afbr-403	57	21	.	.	PUNCT
afbr-403	58	1	wacc	wacc	PROPN
afbr-403	59	1	=	=	X
afbr-403	59	2	ko	ko	PROPN
afbr-403	59	3	=	=	PUNCT
afbr-403	59	4	kex	kex	PROPN
afbr-403	60	1	we	we	PRON
afbr-403	61	1	+	+	CCONJ
afbr-403	61	2	kd	kd	PROPN
afbr-403	61	3	x	x	PROPN
afbr-403	61	4	wd	wd	PROPN
afbr-403	61	5	13	13	NUM
afbr-403	61	6	the	the	DET
afbr-403	61	7	value	value	NOUN
afbr-403	61	8	of	of	ADP
afbr-403	61	9	debt	debt	NOUN
afbr-403	61	10	is	be	AUX
afbr-403	61	11	interest	interest	NOUN
afbr-403	61	12	income	income	NOUN
afbr-403	61	13	to	to	ADP
afbr-403	61	14	dept	dept	NOUN
afbr-403	61	15	-	-	PUNCT
afbr-403	61	16	holder	holder	NOUN
afbr-403	61	17	divided	divide	VERB
afbr-403	61	18	by	by	ADP
afbr-403	61	19	the	the	DET
afbr-403	61	20	most	most	ADJ
afbr-403	61	21	of	of	ADP
afbr-403	61	22	debt	debt	NOUN
afbr-403	61	23	:	:	PUNCT
afbr-403	61	24	dk	dk	PROPN
afbr-403	61	25	int	int	NOUN
afbr-403	61	26	d	d	PROPN
afbr-403	61	27	debtofcost	debtofcost	VERB
afbr-403	61	28	incomeinterest	incomeinterest	NOUN
afbr-403	61	29	debtofvalue	debtofvalue	NOUN
afbr-403	61	30			VERB
afbr-403	61	31	14	14	NUM
afbr-403	61	32	the	the	DET
afbr-403	61	33	sum	sum	NOUN
afbr-403	61	34	of	of	ADP
afbr-403	61	35	value	value	NOUN
afbr-403	61	36	of	of	ADP
afbr-403	61	37	debt	debt	NOUN
afbr-403	61	38	and	and	CCONJ
afbr-403	61	39	equity	equity	NOUN
afbr-403	61	40	is	be	AUX
afbr-403	61	41	the	the	DET
afbr-403	61	42	firm	firm	NOUN
afbr-403	61	43	’s	’s	PART
afbr-403	61	44	total	total	ADJ
afbr-403	61	45	value	value	NOUN
afbr-403	61	46	,	,	PUNCT
afbr-403	61	47	and	and	CCONJ
afbr-403	61	48	is	be	AUX
afbr-403	61	49	direct	direct	ADJ
afbr-403	61	50	tly	tly	ADV
afbr-403	61	51	given	give	VERB
afbr-403	61	52	by	by	ADP
afbr-403	61	53	net	net	ADJ
afbr-403	61	54	operating	operating	NOUN
afbr-403	61	55	income	income	NOUN
afbr-403	61	56	divided	divide	VERB
afbr-403	61	57	by	by	ADP
afbr-403	61	58	wacc	wacc	PROPN
afbr-403	61	59	"	"	PUNCT
afbr-403	61	60	:	:	PUNCT
afbr-403	61	61	ok	ok	INTJ
afbr-403	61	62	noi	noi	PROPN
afbr-403	61	63	ds	ds	PROPN
afbr-403	61	64	wacc	wacc	PROPN
afbr-403	61	65	incomeoperatingnet	incomeoperatingnet	PROPN
afbr-403	61	66	firmofvalue	firmofvalue	PROPN
afbr-403	61	67			PROPN
afbr-403	61	68	15	15	NUM
afbr-403	61	69	proposition	proposition	NOUN
afbr-403	61	70	i	i	PRON
afbr-403	61	71	"	"	PUNCT
afbr-403	61	72	firms	firm	NOUN
afbr-403	61	73	with	with	ADP
afbr-403	61	74	identical	identical	ADJ
afbr-403	61	75	net	net	ADJ
afbr-403	61	76	operating	operating	NOUN
afbr-403	61	77	income	income	NOUN
afbr-403	61	78	and	and	CCONJ
afbr-403	61	79	business	business	NOUN
afbr-403	61	80	(	(	PUNCT
afbr-403	61	81	operating	operate	VERB
afbr-403	61	82	)	)	PUNCT
afbr-403	61	83	risk	risk	NOUN
afbr-403	61	84	,	,	PUNCT
afbr-403	61	85	but	but	CCONJ
afbr-403	61	86	differing	differ	VERB
afbr-403	61	87	capit1	capit1	PROPN
afbr-403	61	88	structure	structure	NOUN
afbr-403	61	89	,	,	PUNCT
afbr-403	61	90	should	should	AUX
afbr-403	61	91	have	have	VERB
afbr-403	61	92	same	same	ADJ
afbr-403	61	93	total	total	ADJ
afbr-403	61	94	value	value	NOUN
afbr-403	61	95	.	.	PUNCT
afbr-403	62	1	value	value	NOUN
afbr-403	62	2	of	of	ADP
afbr-403	62	3	levered	lever	VERB
afbr-403	62	4	firm	firm	NOUN
afbr-403	62	5	=	=	NOUN
afbr-403	62	6	value	value	NOUN
afbr-403	62	7	of	of	ADP
afbr-403	62	8	unlevered	unlevered	ADJ
afbr-403	62	9	firm	firm	ADJ
afbr-403	62	10	v1	v1	NOUN
afbr-403	62	11	=	=	SYM
afbr-403	62	12	vu	vu	NOUN
afbr-403	62	13	capitalofyopportunitsfirm	capitalofyopportunitsfirm	PROPN
afbr-403	62	14	incomeoperatingnet	incomeoperatingnet	PROPN
afbr-403	62	15	firmtheofvalue	firmtheofvalue	PROPN
afbr-403	62	16	cos	cos	PROPN
afbr-403	62	17	'	'	PART
afbr-403	62	18			NUM
afbr-403	62	19	16	16	NUM
afbr-403	62	20	copyright	copyright	NOUN
afbr-403	62	21	©	©	PROPN
afbr-403	62	22	cc	cc	PROPN
afbr-403	62	23	-	-	PUNCT
afbr-403	62	24	by	by	ADP
afbr-403	62	25	-	-	PUNCT
afbr-403	62	26	nc	nc	PROPN
afbr-403	62	27	2019	2019	NUM
afbr-403	62	28	,	,	PUNCT
afbr-403	62	29	cribfb	cribfb	PROPN
afbr-403	62	30	|	|	ADV
afbr-403	62	31	afbr	afbr	PROPN
afbr-403	62	32	www.cribfb.com/journal/index.php/afbr	www.cribfb.com/journal/index.php/afbr	ADJ
afbr-403	62	33	australian	australian	ADJ
afbr-403	62	34	finance	finance	PROPN
afbr-403	62	35	&	&	CCONJ
afbr-403	62	36	banking	banking	PROPN
afbr-403	62	37	review	review	PROPN
afbr-403	62	38	vol	vol	NOUN
afbr-403	62	39	.	.	PROPN
afbr-403	63	1	3	3	NUM
afbr-403	63	2	,	,	PUNCT
afbr-403	63	3	no	no	INTJ
afbr-403	63	4	.	.	NOUN
afbr-403	63	5	2	2	NUM
afbr-403	63	6	;	;	PUNCT
afbr-403	63	7	2019	2019	NUM
afbr-403	63	8	4	4	NUM
afbr-403	63	9	a	a	DET
afbr-403	63	10	u	u	NOUN
afbr-403	63	11	k	k	PROPN
afbr-403	63	12	noi	noi	PROPN
afbr-403	63	13	vvv	vvv	PROPN
afbr-403	63	14			NUM
afbr-403	63	15	1	1	NUM
afbr-403	63	16	17	17	NUM
afbr-403	63	17	where	where	SCONJ
afbr-403	63	18	v	v	NOUN
afbr-403	63	19	is	be	AUX
afbr-403	63	20	the	the	DET
afbr-403	63	21	market	market	NOUN
afbr-403	63	22	value	value	NOUN
afbr-403	63	23	of	of	ADP
afbr-403	63	24	the	the	DET
afbr-403	63	25	firm	firm	NOUN
afbr-403	64	1	and	and	CCONJ
afbr-403	64	2	it	it	PRON
afbr-403	64	3	is	be	AUX
afbr-403	64	4	sum	sum	NOUN
afbr-403	64	5	of	of	ADP
afbr-403	64	6	the	the	DET
afbr-403	64	7	value	value	NOUN
afbr-403	64	8	of	of	ADP
afbr-403	64	9	equity	equity	NOUN
afbr-403	64	10	,	,	PUNCT
afbr-403	64	11	e	e	PROPN
afbr-403	64	12	and	and	CCONJ
afbr-403	64	13	the	the	DET
afbr-403	64	14	value	value	NOUN
afbr-403	64	15	of	of	ADP
afbr-403	64	16	debt	debt	NOUN
afbr-403	64	17	,	,	PUNCT
afbr-403	64	18	d	d	X
afbr-403	64	19	;	;	PUNCT
afbr-403	64	20	not	not	PART
afbr-403	64	21	=	=	SYM
afbr-403	64	22	ebit	ebit	NOUN
afbr-403	64	23	=	=	PUNCT
afbr-403	65	1	the	the	DET
afbr-403	65	2	expected	expect	VERB
afbr-403	65	3	net	net	ADJ
afbr-403	65	4	operating	operating	NOUN
afbr-403	65	5	income	income	NOUN
afbr-403	65	6	;	;	PUNCT
afbr-403	65	7	and	and	CCONJ
afbr-403	65	8	ka	ka	X
afbr-403	66	1	=	=	PUNCT
afbr-403	66	2	the	the	DET
afbr-403	66	3	firm	firm	NOUN
afbr-403	66	4	’s	’s	PART
afbr-403	66	5	opportunity	opportunity	NOUN
afbr-403	66	6	cost	cost	NOUN
afbr-403	66	7	of	of	ADP
afbr-403	66	8	capital	capital	NOUN
afbr-403	66	9	or	or	CCONJ
afbr-403	66	10	the	the	DET
afbr-403	66	11	capitalization	capitalization	NOUN
afbr-403	66	12	rate	rate	NOUN
afbr-403	66	13	appropriate	appropriate	ADJ
afbr-403	66	14	to	to	ADP
afbr-403	66	15	the	the	DET
afbr-403	66	16	risk	risk	NOUN
afbr-403	66	17	class	class	NOUN
afbr-403	66	18	of	of	ADP
afbr-403	66	19	the	the	DET
afbr-403	66	20	firm	firm	NOUN
afbr-403	66	21	.	.	PUNCT
afbr-403	67	1	the	the	DET
afbr-403	67	2	average	average	ADJ
afbr-403	67	3	rate	rate	NOUN
afbr-403	67	4	of	of	ADP
afbr-403	67	5	return	return	NOUN
afbr-403	67	6	required	require	VERB
afbr-403	67	7	by	by	ADP
afbr-403	67	8	all	all	DET
afbr-403	67	9	security	security	NOUN
afbr-403	67	10	-	-	PUNCT
afbr-403	67	11	holders	holder	NOUN
afbr-403	67	12	in	in	ADP
afbr-403	67	13	a	a	DET
afbr-403	67	14	levered	lever	VERB
afbr-403	67	15	firm	firm	NOUN
afbr-403	67	16	is	be	AUX
afbr-403	67	17	the	the	DET
afbr-403	67	18	firm	firm	NOUN
afbr-403	67	19	’s	’s	PART
afbr-403	67	20	weighted	weighted	ADJ
afbr-403	67	21	average	average	ADJ
afbr-403	67	22	cost	cost	NOUN
afbr-403	67	23	of	of	ADP
afbr-403	67	24	capital	capital	NOUN
afbr-403	67	25	;	;	PUNCT
afbr-403	67	26	i.e.	i.e.	X
afbr-403	67	27	,	,	PUNCT
afbr-403	67	28	wacc	wacc	PROPN
afbr-403	67	29	=	=	PROPN
afbr-403	67	30	k0	k0	PROPN
afbr-403	67	31	or	or	CCONJ
afbr-403	67	32	k1	k1	NOUN
afbr-403	67	33	.	.	PUNCT
afbr-403	68	1	thus	thus	ADV
afbr-403	68	2	akk	akk	VERB
afbr-403	68	3	noi	noi	PROPN
afbr-403	68	4	v	v	ADP
afbr-403	68	5			PROPN
afbr-403	68	6			NOUN
afbr-403	68	7	1	1	NUM
afbr-403	68	8	1	1	NUM
afbr-403	68	9	18	18	NUM
afbr-403	68	10	1	1	NUM
afbr-403	68	11	1	1	NUM
afbr-403	68	12	v	v	NUM
afbr-403	68	13	noi	noi	PROPN
afbr-403	68	14	kko	kko	PROPN
afbr-403	68	15			PROPN
afbr-403	68	16	19	19	NUM
afbr-403	68	17	in	in	ADP
afbr-403	68	18	the	the	DET
afbr-403	68	19	case	case	NOUN
afbr-403	68	20	of	of	ADP
afbr-403	68	21	an	an	DET
afbr-403	68	22	unlevered	unlevered	ADJ
afbr-403	68	23	firm	firm	NOUN
afbr-403	68	24	,	,	PUNCT
afbr-403	68	25	the	the	DET
afbr-403	68	26	entire	entire	ADJ
afbr-403	68	27	net	net	ADJ
afbr-403	68	28	operating	operating	NOUN
afbr-403	68	29	income	income	NOUN
afbr-403	68	30	is	be	AUX
afbr-403	68	31	the	the	DET
afbr-403	68	32	shareholders	shareholder	NOUN
afbr-403	68	33	net	net	ADJ
afbr-403	68	34	income	income	NOUN
afbr-403	68	35	.	.	PUNCT
afbr-403	69	1	therefore	therefore	ADV
afbr-403	69	2	,	,	PUNCT
afbr-403	69	3	the	the	DET
afbr-403	69	4	unlevered	unlevered	ADJ
afbr-403	69	5	firm	firm	NOUN
afbr-403	69	6	’s	’s	PART
afbr-403	69	7	wacc	wacc	PROPN
afbr-403	69	8	or	or	CCONJ
afbr-403	69	9	k	k	PROPN
afbr-403	69	10	is	be	AUX
afbr-403	69	11	equal	equal	ADJ
afbr-403	69	12	to	to	ADP
afbr-403	69	13	its	its	PRON
afbr-403	69	14	opportunity	opportunity	NOUN
afbr-403	69	15	cost	cost	NOUN
afbr-403	69	16	of	of	ADP
afbr-403	69	17	capital	capital	NOUN
afbr-403	69	18	:	:	PUNCT
afbr-403	69	19	u	u	PROPN
afbr-403	69	20	ua	ua	PROPN
afbr-403	69	21	v	v	PROPN
afbr-403	69	22	noi	noi	PROPN
afbr-403	69	23	kk	kk	PROPN
afbr-403	69	24			PROPN
afbr-403	69	25	20	20	NUM
afbr-403	69	26	since	since	SCONJ
afbr-403	69	27	the	the	DET
afbr-403	69	28	values	value	NOUN
afbr-403	69	29	of	of	ADP
afbr-403	69	30	the	the	DET
afbr-403	69	31	levered	levered	ADJ
afbr-403	69	32	and	and	CCONJ
afbr-403	69	33	unlevered	unlevered	ADJ
afbr-403	69	34	firms	firm	NOUN
afbr-403	69	35	and	and	CCONJ
afbr-403	69	36	the	the	DET
afbr-403	69	37	expected	expected	ADJ
afbr-403	69	38	net	net	ADJ
afbr-403	69	39	operating	operating	NOUN
afbr-403	69	40	income	income	NOUN
afbr-403	69	41	(	(	PUNCT
afbr-403	69	42	nol	nol	NOUN
afbr-403	69	43	)	)	PUNCT
afbr-403	69	44	do	do	AUX
afbr-403	69	45	not	not	PART
afbr-403	69	46	change	change	VERB
afbr-403	69	47	with	with	ADP
afbr-403	69	48	financial	financial	ADJ
afbr-403	69	49	leverage	leverage	NOUN
afbr-403	69	50	,	,	PUNCT
afbr-403	69	51	the	the	DET
afbr-403	69	52	weighted	weighted	ADJ
afbr-403	69	53	average	average	ADJ
afbr-403	69	54	cost	cost	NOUN
afbr-403	69	55	of	of	ADP
afbr-403	69	56	capital	capital	NOUN
afbr-403	69	57	would	would	AUX
afbr-403	69	58	also	also	ADV
afbr-403	69	59	not	not	PART
afbr-403	69	60	change	change	VERB
afbr-403	69	61	with	with	ADP
afbr-403	69	62	financial	financial	ADJ
afbr-403	69	63	leverage	leverage	NOUN
afbr-403	69	64	.	.	PUNCT
afbr-403	70	1	hence	hence	ADV
afbr-403	70	2	,	,	PUNCT
afbr-403	70	3	mm	mm	PROPN
afbr-403	70	4	’s	’s	PART
afbr-403	70	5	proposition	proposition	NOUN
afbr-403	70	6	also	also	ADV
afbr-403	70	7	implies	imply	VERB
afbr-403	70	8	that	that	SCONJ
afbr-403	70	9	the	the	DET
afbr-403	70	10	weighted	weight	VERB
afbr-403	70	11	average	average	ADJ
afbr-403	70	12	cost	cost	NOUN
afbr-403	70	13	of	of	ADP
afbr-403	70	14	capital	capital	NOUN
afbr-403	70	15	for	for	ADP
afbr-403	70	16	two	two	NUM
afbr-403	70	17	identical	identical	ADJ
afbr-403	70	18	firms	firm	NOUN
afbr-403	70	19	,	,	PUNCT
afbr-403	70	20	one	one	NUM
afbr-403	70	21	levered	lever	VERB
afbr-403	70	22	and	and	CCONJ
afbr-403	70	23	another	another	DET
afbr-403	70	24	unlevered	unlevered	ADJ
afbr-403	70	25	,	,	PUNCT
afbr-403	70	26	will	will	AUX
afbr-403	70	27	be	be	AUX
afbr-403	70	28	equal	equal	ADJ
afbr-403	70	29	to	to	ADP
afbr-403	70	30	the	the	DET
afbr-403	70	31	opportunity	opportunity	NOUN
afbr-403	70	32	cost	cost	NOUN
afbr-403	70	33	of	of	ADP
afbr-403	70	34	capital	capital	NOUN
afbr-403	70	35	.	.	PUNCT
afbr-403	71	1	levered	lever	VERB
afbr-403	71	2	firm	firm	NOUN
afbr-403	71	3	’s	’s	PART
afbr-403	71	4	cost	cost	NOUN
afbr-403	71	5	of	of	ADP
afbr-403	71	6	capital	capital	NOUN
afbr-403	71	7	(	(	PUNCT
afbr-403	71	8	k1	k1	NOUN
afbr-403	71	9	)	)	PUNCT
afbr-403	71	10	unlevered	unlevered	ADJ
afbr-403	71	11	firm	firm	NOUN
afbr-403	71	12	’s	’s	PART
afbr-403	71	13	cost	cost	NOUN
afbr-403	71	14	of	of	ADP
afbr-403	71	15	capital	capital	NOUN
afbr-403	71	16	(	(	PUNCT
afbr-403	71	17	ku	ku	PROPN
afbr-403	71	18	)	)	PUNCT
afbr-403	71	19	k1	k1	PROPN
afbr-403	71	20	=	=	SYM
afbr-403	71	21	ko	ko	PROPN
afbr-403	71	22	=	=	PROPN
afbr-403	71	23	ka	ka	PROPN
afbr-403	71	24	=	=	PROPN
afbr-403	71	25	ku	ku	PROPN
afbr-403	71	26	to	to	PART
afbr-403	71	27	determine	determine	VERB
afbr-403	71	28	the	the	DET
afbr-403	71	29	levered	lever	VERB
afbr-403	71	30	firm	firm	NOUN
afbr-403	71	31	’s	’s	PART
afbr-403	71	32	cost	cost	NOUN
afbr-403	71	33	of	of	ADP
afbr-403	71	34	equity	equity	NOUN
afbr-403	71	35	,	,	PUNCT
afbr-403	71	36	ke	ke	PROPN
afbr-403	71	37			NOUN
afbr-403	71	38			PUNCT
afbr-403	71	39	e	e	X
afbr-403	71	40	d	d	SYM
afbr-403	71	41	kkkk	kkkk	PROPN
afbr-403	71	42	daae	daae	NOUN
afbr-403	71	43			PRON
afbr-403	71	44	21	21	NUM
afbr-403	71	45	since	since	SCONJ
afbr-403	71	46	itl	itl	NOUN
afbr-403	71	47	is	be	AUX
afbr-403	71	48	an	an	DET
afbr-403	71	49	unlevered	unlevered	ADJ
afbr-403	71	50	company	company	NOUN
afbr-403	72	1	,	,	PUNCT
afbr-403	72	2	its	its	PRON
afbr-403	72	3	opportunity	opportunity	NOUN
afbr-403	72	4	cost	cost	NOUN
afbr-403	72	5	of	of	ADP
afbr-403	72	6	capital	capital	NOUN
afbr-403	72	7	will	will	AUX
afbr-403	72	8	be	be	AUX
afbr-403	72	9	equal	equal	ADJ
afbr-403	72	10	to	to	ADP
afbr-403	72	11	its	its	PRON
afbr-403	72	12	cott	cott	PROPN
afbr-403	72	13	of	of	ADP
afbr-403	72	14	equity	equity	PROPN
afbr-403	72	15	,	,	PUNCT
afbr-403	72	16	ke	ke	PROPN
afbr-403	72	17	equityanddeptofvaluemarket	equityanddeptofvaluemarket	PROPN
afbr-403	72	18	iexpectedno	iexpectedno	PROPN
afbr-403	72	19	kk	kk	PROPN
afbr-403	72	20	ea	ea	PROPN
afbr-403	72	21			NUM
afbr-403	72	22	22	22	NUM
afbr-403	72	23	the	the	DET
afbr-403	72	24	expected	expect	VERB
afbr-403	72	25	eps	eps	PROPN
afbr-403	72	26	is	be	AUX
afbr-403	72	27	:	:	PUNCT
afbr-403	72	28	sharesofnumber	sharesofnumber	NOUN
afbr-403	72	29	incomenet	incomenet	NOUN
afbr-403	72	30	epse	epse	NOUN
afbr-403	72	31			PRON
afbr-403	72	32	23	23	NUM
afbr-403	72	33	the	the	DET
afbr-403	72	34	cost	cost	NOUN
afbr-403	72	35	of	of	ADP
afbr-403	72	36	equity	equity	NOUN
afbr-403	72	37	will	will	AUX
afbr-403	72	38	increase	increase	VERB
afbr-403	72	39	to	to	PART
afbr-403	72	40	compensate	compensate	VERB
afbr-403	72	41	for	for	ADP
afbr-403	72	42	the	the	DET
afbr-403	72	43	financial	financial	ADJ
afbr-403	72	44	risk	risk	NOUN
afbr-403	72	45	:	:	PUNCT
afbr-403	72	46			NOUN
afbr-403	72	47			PUNCT
afbr-403	72	48	e	e	NOUN
afbr-403	72	49	d	d	SYM
afbr-403	72	50	kkkk	kkkk	PROPN
afbr-403	72	51	daae	daae	NOUN
afbr-403	72	52			VERB
afbr-403	72	53	24	24	NUM
afbr-403	72	54	interest	interest	NOUN
afbr-403	72	55	tax	tax	NOUN
afbr-403	72	56	shield	shield	NOUN
afbr-403	72	57	corporate	corporate	ADJ
afbr-403	72	58	tax	tax	NOUN
afbr-403	72	59	rate	rate	NOUN
afbr-403	72	60	x	x	NOUN
afbr-403	72	61	interest	interest	NOUN
afbr-403	72	62	copyright	copyright	NOUN
afbr-403	72	63	©	©	PROPN
afbr-403	72	64	cc	cc	PROPN
afbr-403	72	65	-	-	PUNCT
afbr-403	72	66	by	by	ADP
afbr-403	72	67	-	-	PUNCT
afbr-403	72	68	nc	nc	PROPN
afbr-403	72	69	2019	2019	NUM
afbr-403	72	70	,	,	PUNCT
afbr-403	72	71	cribfb	cribfb	PROPN
afbr-403	72	72	|	|	ADV
afbr-403	72	73	afbr	afbr	PROPN
afbr-403	72	74	www.cribfb.com/journal/index.php/afbr	www.cribfb.com/journal/index.php/afbr	ADJ
afbr-403	72	75	australian	australian	ADJ
afbr-403	72	76	finance	finance	PROPN
afbr-403	72	77	&	&	CCONJ
afbr-403	72	78	banking	banking	PROPN
afbr-403	72	79	review	review	PROPN
afbr-403	72	80	vol	vol	NOUN
afbr-403	72	81	.	.	PROPN
afbr-403	73	1	3	3	NUM
afbr-403	73	2	,	,	PUNCT
afbr-403	73	3	no	no	INTJ
afbr-403	73	4	.	.	NOUN
afbr-403	73	5	2	2	NUM
afbr-403	73	6	;	;	PUNCT
afbr-403	73	7	2019	2019	NUM
afbr-403	73	8	5	5	NUM
afbr-403	73	9			NOUN
afbr-403	74	1			NOUN
afbr-403	74	2			NOUN
afbr-403	74	3			NOUN
afbr-403	74	4			NOUN
afbr-403	74	5			NOUN
afbr-403	74	6	dtktxdtktx	dtktxdtktx	NOUN
afbr-403	74	7	dd	dd	VERB
afbr-403	74	8			ADJ
afbr-403	74	9	11	11	NUM
afbr-403	74	10	25	25	NUM
afbr-403	74	11	the	the	DET
afbr-403	74	12	cash	cash	NOUN
afbr-403	74	13	flows	flow	NOUN
afbr-403	74	14	arising	arise	VERB
afbr-403	74	15	on	on	ADP
afbr-403	74	16	account	account	NOUN
afbr-403	74	17	of	of	ADP
afbr-403	74	18	interest	interest	NOUN
afbr-403	74	19	tax	tax	NOUN
afbr-403	74	20	shield	shield	NOUN
afbr-403	74	21	are	be	AUX
afbr-403	74	22	less	less	ADV
afbr-403	74	23	risky	risky	ADJ
afbr-403	74	24	than	than	ADP
afbr-403	74	25	the	the	DET
afbr-403	74	26	firm	firm	NOUN
afbr-403	74	27	’s	’s	PART
afbr-403	74	28	operating	operate	VERB
afbr-403	74	29	income	income	NOUN
afbr-403	74	30	that	that	PRON
afbr-403	74	31	is	be	AUX
afbr-403	74	32	subject	subject	ADJ
afbr-403	74	33	to	to	ADP
afbr-403	74	34	business	business	NOUN
afbr-403	74	35	risk	risk	NOUN
afbr-403	74	36	.	.	PUNCT
afbr-403	75	1	interest	interest	NOUN
afbr-403	75	2	tax	tax	NOUN
afbr-403	75	3	shield	shield	NOUN
afbr-403	75	4	depends	depend	VERB
afbr-403	75	5	on	on	ADP
afbr-403	75	6	the	the	DET
afbr-403	75	7	corporate	corporate	ADJ
afbr-403	75	8	tax	tax	NOUN
afbr-403	75	9	rate	rate	NOUN
afbr-403	75	10	and	and	CCONJ
afbr-403	75	11	the	the	DET
afbr-403	75	12	firm	firm	NOUN
afbr-403	75	13	’s	’s	PART
afbr-403	75	14	ability	ability	NOUN
afbr-403	75	15	to	to	PART
afbr-403	75	16	earn	earn	VERB
afbr-403	75	17	enough	enough	ADJ
afbr-403	75	18	profit	profit	NOUN
afbr-403	75	19	to	to	PART
afbr-403	75	20	cover	cover	VERB
afbr-403	75	21	the	the	DET
afbr-403	75	22	interest	interest	NOUN
afbr-403	75	23	payments	payment	NOUN
afbr-403	75	24	.	.	PUNCT
afbr-403	76	1	the	the	DET
afbr-403	76	2	corporate	corporate	ADJ
afbr-403	76	3	tax	tax	NOUN
afbr-403	76	4	rates	rate	NOUN
afbr-403	76	5	do	do	AUX
afbr-403	76	6	not	not	PART
afbr-403	76	7	change	change	VERB
afbr-403	76	8	very	very	ADV
afbr-403	76	9	frequently	frequently	ADV
afbr-403	76	10	.	.	PUNCT
afbr-403	77	1	firm	firm	ADJ
afbr-403	77	2	l	l	PROPN
afbr-403	77	3	can	can	AUX
afbr-403	77	4	be	be	AUX
afbr-403	77	5	assumed	assume	VERB
afbr-403	77	6	to	to	PART
afbr-403	77	7	earn	earn	VERB
afbr-403	77	8	at	at	ADP
afbr-403	77	9	least	least	ADJ
afbr-403	77	10	equal	equal	ADJ
afbr-403	77	11	to	to	ADP
afbr-403	77	12	the	the	DET
afbr-403	77	13	interest	interest	NOUN
afbr-403	77	14	payable	payable	ADJ
afbr-403	78	1	otherwise	otherwise	ADV
afbr-403	78	2	it	it	PRON
afbr-403	78	3	would	would	AUX
afbr-403	78	4	not	not	PART
afbr-403	78	5	like	like	VERB
afbr-403	78	6	to	to	PART
afbr-403	78	7	borrow	borrow	VERB
afbr-403	78	8	.	.	PUNCT
afbr-403	79	1	thus	thus	ADV
afbr-403	79	2	,	,	PUNCT
afbr-403	79	3	the	the	DET
afbr-403	79	4	cash	cash	NOUN
afbr-403	79	5	inflows	inflow	NOUN
afbr-403	79	6	from	from	ADP
afbr-403	79	7	interest	interest	NOUN
afbr-403	79	8	tax	tax	NOUN
afbr-403	79	9	shield	shield	NOUN
afbr-403	79	10	can	can	AUX
afbr-403	79	11	be	be	AUX
afbr-403	79	12	considered	consider	VERB
afbr-403	79	13	less	less	ADV
afbr-403	79	14	risky	risky	ADJ
afbr-403	79	15	,	,	PUNCT
afbr-403	79	16	and	and	CCONJ
afbr-403	79	17	they	they	PRON
afbr-403	79	18	should	should	AUX
afbr-403	79	19	be	be	AUX
afbr-403	79	20	discounted	discount	VERB
afbr-403	79	21	at	at	ADP
afbr-403	79	22	a	a	DET
afbr-403	79	23	lower	low	ADJ
afbr-403	79	24	discount	discount	NOUN
afbr-403	79	25	rate	rate	NOUN
afbr-403	79	26	.	.	PUNCT
afbr-403	80	1	it	it	PRON
afbr-403	80	2	will	will	AUX
afbr-403	80	3	be	be	AUX
afbr-403	80	4	reasonable	reasonable	ADJ
afbr-403	80	5	to	to	PART
afbr-403	80	6	assume	assume	VERB
afbr-403	80	7	that	that	SCONJ
afbr-403	80	8	the	the	DET
afbr-403	80	9	risk	risk	NOUN
afbr-403	80	10	of	of	ADP
afbr-403	80	11	interest	interest	NOUN
afbr-403	80	12	tax	tax	NOUN
afbr-403	80	13	shield	shield	NOUN
afbr-403	80	14	is	be	AUX
afbr-403	80	15	the	the	DET
afbr-403	80	16	same	same	ADJ
afbr-403	80	17	as	as	ADP
afbr-403	80	18	that	that	PRON
afbr-403	80	19	of	of	ADP
afbr-403	80	20	the	the	DET
afbr-403	80	21	interest	interest	NOUN
afbr-403	80	22	payments	payment	NOUN
afbr-403	80	23	generating	generate	VERB
afbr-403	80	24	them	they	PRON
afbr-403	80	25	.	.	PUNCT
afbr-403	81	1	thus	thus	ADV
afbr-403	81	2	,	,	PUNCT
afbr-403	81	3	the	the	DET
afbr-403	81	4	discount	discount	NOUN
afbr-403	81	5	rate	rate	NOUN
afbr-403	81	6	is	be	AUX
afbr-403	81	7	10	10	NUM
afbr-403	81	8	per	per	ADP
afbr-403	81	9	cent	cent	NOUN
afbr-403	81	10	,	,	PUNCT
afbr-403	81	11	which	which	PRON
afbr-403	81	12	is	be	AUX
afbr-403	81	13	the	the	DET
afbr-403	81	14	rate	rate	NOUN
afbr-403	81	15	of	of	ADP
afbr-403	81	16	return	return	NOUN
afbr-403	81	17	required	require	VERB
afbr-403	81	18	by	by	ADP
afbr-403	81	19	debt	debt	NOUN
afbr-403	81	20	-	-	PUNCT
afbr-403	81	21	holders	holder	NOUN
afbr-403	81	22	.	.	PUNCT
afbr-403	82	1	thus	thus	ADV
afbr-403	82	2	,	,	PUNCT
afbr-403	82	3	under	under	ADP
afbr-403	82	4	the	the	DET
afbr-403	82	5	assumption	assumption	NOUN
afbr-403	82	6	of	of	ADP
afbr-403	82	7	permanent	permanent	ADJ
afbr-403	82	8	debt	debt	NOUN
afbr-403	82	9	,	,	PUNCT
afbr-403	82	10	we	we	PRON
afbr-403	82	11	can	can	AUX
afbr-403	82	12	determine	determine	VERB
afbr-403	82	13	the	the	DET
afbr-403	82	14	present	present	ADJ
afbr-403	82	15	value	value	NOUN
afbr-403	82	16	of	of	ADP
afbr-403	82	17	the	the	DET
afbr-403	82	18	interest	interest	NOUN
afbr-403	82	19	tax	tax	NOUN
afbr-403	82	20	shield	shield	NOUN
afbr-403	82	21	a	a	DET
afbr-403	82	22	follows	follow	NOUN
afbr-403	82	23	:	:	PUNCT
afbr-403	82	24	debtofcost	debtofcost	VERB
afbr-403	82	25	erestratecorporate	erestratecorporate	NOUN
afbr-403	82	26	int	int	PROPN
afbr-403	82	27	shieldax	shieldax	PROPN
afbr-403	82	28	interest	interest	PROPN
afbr-403	82	29	t	t	PROPN
afbr-403	82	30	of	of	ADP
afbr-403	82	31	pv	pv	INTJ
afbr-403	82	32			PROPN
afbr-403	83	1			PROPN
afbr-403	83	2	26	26	NUM
afbr-403	84	1	td	td	NOUN
afbr-403	84	2	k	k	PROPN
afbr-403	84	3	dkt	dkt	PROPN
afbr-403	84	4	vints	vints	PROPN
afbr-403	85	1	d	d	NOUN
afbr-403	85	2	d	d	X
afbr-403	85	3			PRON
afbr-403	85	4			PROPN
afbr-403	85	5	p	p	NOUN
afbr-403	85	6	27	27	NUM
afbr-403	85	7	you	you	PRON
afbr-403	85	8	may	may	AUX
afbr-403	85	9	note	note	VERB
afbr-403	85	10	from	from	ADP
afbr-403	85	11	equation	equation	NOUN
afbr-403	85	12	(	(	PUNCT
afbr-403	85	13	32	32	NUM
afbr-403	85	14	)	)	PUNCT
afbr-403	85	15	that	that	SCONJ
afbr-403	85	16	the	the	DET
afbr-403	85	17	present	present	ADJ
afbr-403	85	18	value	value	NOUN
afbr-403	85	19	of	of	ADP
afbr-403	85	20	the	the	DET
afbr-403	85	21	interest	interest	NOUN
afbr-403	85	22	tax	tax	NOUN
afbr-403	85	23	shields	shield	NOUN
afbr-403	85	24	(	(	PUNCT
afbr-403	85	25	pvints	pvint	NOUN
afbr-403	85	26	)	)	PUNCT
afbr-403	85	27	is	be	AUX
afbr-403	85	28	independent	independent	ADJ
afbr-403	85	29	of	of	ADP
afbr-403	85	30	the	the	DET
afbr-403	85	31	cost	cost	NOUN
afbr-403	85	32	of	of	ADP
afbr-403	85	33	debt	debt	NOUN
afbr-403	85	34	:	:	PUNCT
afbr-403	85	35	it	it	PRON
afbr-403	85	36	is	be	AUX
afbr-403	85	37	simply	simply	ADV
afbr-403	85	38	the	the	DET
afbr-403	85	39	corporate	corporate	ADJ
afbr-403	85	40	tax	tax	NOUN
afbr-403	85	41	rate	rate	NOUN
afbr-403	85	42	times	time	NOUN
afbr-403	85	43	the	the	DET
afbr-403	85	44	amount	amount	NOUN
afbr-403	85	45	of	of	ADP
afbr-403	85	46	permanent	permanent	ADJ
afbr-403	85	47	debt	debt	NOUN
afbr-403	85	48	(	(	PUNCT
afbr-403	85	49	td	td	NOUN
afbr-403	85	50	)	)	PUNCT
afbr-403	85	51	.	.	PUNCT
afbr-403	85	52	"	"	PUNCT
afbr-403	86	1	value	value	NOUN
afbr-403	86	2	of	of	ADP
afbr-403	86	3	the	the	DET
afbr-403	86	4	levered	lever	VERB
afbr-403	86	5	firm	firm	NOUN
afbr-403	86	6	the	the	DET
afbr-403	86	7	value	value	NOUN
afbr-403	86	8	of	of	ADP
afbr-403	86	9	the	the	DET
afbr-403	86	10	unlevered	unlevered	ADJ
afbr-403	86	11	firm	firm	NOUN
afbr-403	86	12	debtofcost	debtofcost	AUX
afbr-403	86	13	erestratecorporate	erestratecorporate	NOUN
afbr-403	86	14	int	int	NOUN
afbr-403	86	15	firmunleavedtheof	firmunleavedtheof	ADJ
afbr-403	86	16	value	value	NOUN
afbr-403	86	17			PROPN
afbr-403	87	1			PROPN
afbr-403	88	1	28	28	NUM
afbr-403	88	2	d	d	NOUN
afbr-403	88	3	d	d	PROPN
afbr-403	88	4	a	a	DET
afbr-403	88	5	k	k	PROPN
afbr-403	88	6	dtk	dtk	PROPN
afbr-403	88	7	k	k	PROPN
afbr-403	88	8	tx	tx	PROPN
afbr-403	88	9	v	v	ADP
afbr-403	88	10			ADJ
afbr-403	88	11			PROPN
afbr-403	88	12			NUM
afbr-403	88	13	)	)	PUNCT
afbr-403	88	14	1	1	NUM
afbr-403	88	15	(	(	PUNCT
afbr-403	88	16	1	1	NUM
afbr-403	88	17	29	29	NUM
afbr-403	88	18	tdvv	tdvv	NOUN
afbr-403	88	19	u	u	PROPN
afbr-403	88	20	1	1	PROPN
afbr-403	88	21	30	30	NUM
afbr-403	88	22	"	"	PUNCT
afbr-403	88	23	equation	equation	NOUN
afbr-403	88	24	(	(	PUNCT
afbr-403	88	25	15	15	NUM
afbr-403	88	26	)	)	PUNCT
afbr-403	88	27	implies	imply	VERB
afbr-403	88	28	that	that	SCONJ
afbr-403	88	29	when	when	SCONJ
afbr-403	88	30	the	the	DET
afbr-403	88	31	corporate	corporate	ADJ
afbr-403	88	32	tax	tax	NOUN
afbr-403	88	33	rate	rate	NOUN
afbr-403	88	34	,	,	PUNCT
afbr-403	88	35	t	t	PROPN
afbr-403	88	36	,	,	PUNCT
afbr-403	88	37	is	be	AUX
afbr-403	88	38	positive	positive	ADJ
afbr-403	88	39	(	(	PUNCT
afbr-403	88	40	t	t	X
afbr-403	88	41	>	>	X
afbr-403	88	42	0	0	NUM
afbr-403	88	43	)	)	PUNCT
afbr-403	88	44	,	,	PUNCT
afbr-403	88	45	the	the	DET
afbr-403	88	46	value	value	NOUN
afbr-403	88	47	of	of	ADP
afbr-403	88	48	the	the	DET
afbr-403	88	49	levered	lever	VERB
afbr-403	88	50	firm	firm	NOUN
afbr-403	88	51	will	will	AUX
afbr-403	88	52	increase	increase	VERB
afbr-403	88	53	continuously	continuously	ADV
afbr-403	88	54	with	with	ADP
afbr-403	88	55	debt	debt	NOUN
afbr-403	88	56	.	.	PUNCT
afbr-403	89	1	thus	thus	ADV
afbr-403	89	2	,	,	PUNCT
afbr-403	89	3	theoretically	theoretically	ADV
afbr-403	89	4	the	the	DET
afbr-403	89	5	value	value	NOUN
afbr-403	89	6	of	of	ADP
afbr-403	89	7	the	the	DET
afbr-403	89	8	firm	firm	NOUN
afbr-403	89	9	will	will	AUX
afbr-403	89	10	be	be	AUX
afbr-403	89	11	maximized	maximize	VERB
afbr-403	89	12	when	when	SCONJ
afbr-403	89	13	it	it	PRON
afbr-403	89	14	employs	employ	VERB
afbr-403	89	15	100	100	NUM
afbr-403	89	16	per	per	ADP
afbr-403	89	17	cent	cent	NOUN
afbr-403	89	18	debt	debt	NOUN
afbr-403	89	19	.	.	PUNCT
afbr-403	89	20	"	"	PUNCT
afbr-403	90	1	enhancing	enhance	VERB
afbr-403	90	2	the	the	DET
afbr-403	90	3	firm	firm	ADJ
afbr-403	90	4	value	value	NOUN
afbr-403	90	5	through	through	ADP
afbr-403	90	6	debt	debt	NOUN
afbr-403	90	7	:	:	PUNCT
afbr-403	90	8	v1=	v1=	ADP
afbr-403	90	9	tdvu	tdvu	NOUN
afbr-403	90	10			VERB
afbr-403	90	11	31	31	NUM
afbr-403	90	12	111	111	NUM
afbr-403	90	13	1	1	NUM
afbr-403	90	14	v	v	NOUN
afbr-403	90	15	td	td	NOUN
afbr-403	90	16	v	v	ADP
afbr-403	90	17	v	v	NUM
afbr-403	90	18	v	v	NOUN
afbr-403	90	19	v	v	NOUN
afbr-403	90	20	u	u	NOUN
afbr-403	90	21			ADJ
afbr-403	90	22	,	,	PUNCT
afbr-403	90	23	1=	1=	NUM
afbr-403	90	24			PROPN
afbr-403	90	25	1v	1v	NUM
afbr-403	90	26	vu	vu	NOUN
afbr-403	90	27	tl	tl	PROPN
afbr-403	90	28	32	32	NUM
afbr-403	90	29	vl=	vl=	PROPN
afbr-403	90	30	tl	tl	PROPN
afbr-403	90	31	vu	vu	X
afbr-403	90	32	1	1	ADJ
afbr-403	90	33	33	33	NUM
afbr-403	90	34	thus	thus	ADV
afbr-403	90	35	,	,	PUNCT
afbr-403	90	36	for	for	ADP
afbr-403	90	37	1	1	NUM
afbr-403	90	38	>	>	SYM
afbr-403	90	39	0	0	NUM
afbr-403	90	40	,	,	PUNCT
afbr-403	90	41	v1	v1	NOUN
afbr-403	90	42	will	will	AUX
afbr-403	90	43	increase	increase	VERB
afbr-403	90	44	with	with	ADP
afbr-403	90	45	l	l	NOUN
afbr-403	90	46	,	,	PUNCT
afbr-403	90	47	and	and	CCONJ
afbr-403	90	48	will	will	AUX
afbr-403	90	49	be	be	AUX
afbr-403	90	50	maximum	maximum	ADJ
afbr-403	90	51	at	at	ADP
afbr-403	90	52	l	l	NOUN
afbr-403	90	53	=	=	NOUN
afbr-403	90	54	1	1	NUM
afbr-403	90	55	debt	debt	NOUN
afbr-403	90	56	-	-	PUNCT
afbr-403	90	57	holders	holder	NOUN
afbr-403	90	58	’	'	PUNCT
afbr-403	90	59	interest	interest	NOUN
afbr-403	90	60	income	income	NOUN
afbr-403	90	61	after	after	SCONJ
afbr-403	90	62	personal	personal	ADJ
afbr-403	90	63	taxes	taxis	NOUN
afbr-403	90	64	will	will	AUX
afbr-403	90	65	be	be	AUX
afbr-403	90	66	on	on	ADP
afbr-403	90	67	the	the	DET
afbr-403	90	68	other	other	ADJ
afbr-403	90	69	hand	hand	NOUN
afbr-403	90	70	,	,	PUNCT
afbr-403	90	71	if	if	SCONJ
afbr-403	90	72	the	the	DET
afbr-403	90	73	firm	firm	NOUN
afbr-403	90	74	’s	’s	PART
afbr-403	90	75	expected	expect	VERB
afbr-403	90	76	net	net	ADJ
afbr-403	90	77	operating	operating	NOUN
afbr-403	90	78	income	income	NOUN
afbr-403	90	79	is	be	AUX
afbr-403	90	80	distributed	distribute	VERB
afbr-403	90	81	as	as	ADP
afbr-403	90	82	equity	equity	NOUN
afbr-403	90	83	income	income	NOUN
afbr-403	90	84	,	,	PUNCT
afbr-403	90	85	then	then	ADV
afbr-403	90	86	the	the	DET
afbr-403	90	87	firm	firm	NOUN
afbr-403	90	88	will	will	AUX
afbr-403	90	89	pay	pay	VERB
afbr-403	90	90	corporate	corporate	ADJ
afbr-403	90	91	tax	tax	NOUN
afbr-403	90	92	.	.	PUNCT
afbr-403	91	1	assume	assume	VERB
afbr-403	91	2	that	that	SCONJ
afbr-403	91	3	the	the	DET
afbr-403	91	4	personal	personal	ADJ
afbr-403	91	5	tax	tax	NOUN
afbr-403	91	6	rate	rate	NOUN
afbr-403	91	7	on	on	ADP
afbr-403	91	8	equity	equity	NOUN
afbr-403	91	9	income	income	NOUN
afbr-403	91	10	is	be	AUX
afbr-403	91	11	the	the	DET
afbr-403	91	12	equity	equity	NOUN
afbr-403	91	13	income	income	NOUN
afbr-403	91	14	after	after	SCONJ
afbr-403	91	15	personal	personal	ADJ
afbr-403	91	16	tax	tax	NOUN
afbr-403	91	17	will	will	AUX
afbr-403	91	18	be	be	AUX
afbr-403	91	19	:	:	PUNCT
afbr-403	91	20	copyright	copyright	NOUN
afbr-403	91	21	©	©	PROPN
afbr-403	91	22	cc	cc	PROPN
afbr-403	91	23	-	-	PUNCT
afbr-403	91	24	by	by	ADP
afbr-403	91	25	-	-	PUNCT
afbr-403	91	26	nc	nc	PROPN
afbr-403	91	27	2019	2019	NUM
afbr-403	91	28	,	,	PUNCT
afbr-403	91	29	cribfb	cribfb	PROPN
afbr-403	91	30	|	|	ADV
afbr-403	91	31	afbr	afbr	PROPN
afbr-403	91	32	www.cribfb.com/journal/index.php/afbr	www.cribfb.com/journal/index.php/afbr	ADJ
afbr-403	91	33	australian	australian	ADJ
afbr-403	91	34	finance	finance	PROPN
afbr-403	91	35	&	&	CCONJ
afbr-403	91	36	banking	banking	PROPN
afbr-403	91	37	review	review	PROPN
afbr-403	91	38	vol	vol	NOUN
afbr-403	91	39	.	.	PROPN
afbr-403	92	1	3	3	NUM
afbr-403	92	2	,	,	PUNCT
afbr-403	92	3	no	no	INTJ
afbr-403	92	4	.	.	NOUN
afbr-403	92	5	2	2	NUM
afbr-403	92	6	;	;	PUNCT
afbr-403	92	7	2019	2019	NUM
afbr-403	92	8	6	6	NUM
afbr-403	92	9	equity	equity	NOUN
afbr-403	92	10	income	income	NOUN
afbr-403	92	11	after	after	ADP
afbr-403	92	12	personal	personal	ADJ
afbr-403	92	13	tax	tax	NOUN
afbr-403	92	14	=	=	SYM
afbr-403	92	15	(	(	PUNCT
afbr-403	92	16	1	1	NUM
afbr-403	92	17	-	-	PUNCT
afbr-403	92	18	t)-tpe(1	t)-tpe(1	NOUN
afbr-403	92	19	-	-	PUNCT
afbr-403	92	20	t)=(1	t)=(1	NOUN
afbr-403	92	21	-	-	PUNCT
afbr-403	92	22	t)	t)	ADJ
afbr-403	92	23	(	(	PUNCT
afbr-403	92	24	1	1	NUM
afbr-403	92	25	-	-	PUNCT
afbr-403	92	26	tpe	tpe	NOUN
afbr-403	92	27	)	)	PUNCT
afbr-403	92	28	34	34	NUM
afbr-403	92	29	we	we	PRON
afbr-403	92	30	can	can	AUX
afbr-403	92	31	see	see	VERB
afbr-403	92	32	that	that	DET
afbr-403	92	33	corporate	corporate	ADJ
afbr-403	92	34	borrowing	borrowing	NOUN
afbr-403	92	35	will	will	AUX
afbr-403	92	36	be	be	AUX
afbr-403	92	37	advantageous	advantageous	ADJ
afbr-403	92	38	if	if	SCONJ
afbr-403	92	39	the	the	DET
afbr-403	92	40	interest	interest	NOUN
afbr-403	92	41	income	income	NOUN
afbr-403	92	42	after	after	ADP
afbr-403	92	43	personal	personal	ADJ
afbr-403	92	44	tax	tax	NOUN
afbr-403	92	45	is	be	AUX
afbr-403	92	46	greater	great	ADJ
afbr-403	92	47	than	than	ADP
afbr-403	92	48	the	the	DET
afbr-403	92	49	equity	equity	NOUN
afbr-403	92	50	income	income	NOUN
afbr-403	92	51	after	after	ADP
afbr-403	92	52	personal	personal	ADJ
afbr-403	92	53	tax	tax	NOUN
afbr-403	92	54	:	:	PUNCT
afbr-403	92	55	(	(	PUNCT
afbr-403	92	56	1	1	NUM
afbr-403	92	57	-	-	PUNCT
afbr-403	92	58	tpd)>(l	tpd)>(l	NOUN
afbr-403	92	59	-	-	PUNCT
afbr-403	92	60	t	t	PROPN
afbr-403	92	61	)	)	PUNCT
afbr-403	92	62	x	x	X
afbr-403	92	63	(	(	PUNCT
afbr-403	92	64	1	1	NUM
afbr-403	92	65	-	-	PUNCT
afbr-403	92	66	tpe	tpe	NOUN
afbr-403	92	67	)	)	PUNCT
afbr-403	92	68	35	35	NUM
afbr-403	92	69	a	a	DET
afbr-403	92	70	firm	firm	NOUN
afbr-403	92	71	will	will	AUX
afbr-403	92	72	stop	stop	VERB
afbr-403	92	73	borrowing	borrow	VERB
afbr-403	92	74	when	when	SCONJ
afbr-403	92	75	(	(	PUNCT
afbr-403	92	76	1tpd	1tpd	X
afbr-403	92	77	)	)	PUNCT
afbr-403	92	78	becomes	become	VERB
afbr-403	92	79	equal	equal	ADJ
afbr-403	92	80	to	to	ADP
afbr-403	92	81	(	(	PUNCT
afbr-403	92	82	1tpe	1tpe	NUM
afbr-403	92	83	)	)	PUNCT
afbr-403	92	84	(	(	PUNCT
afbr-403	92	85	1	1	NUM
afbr-403	92	86	-	-	PUNCT
afbr-403	92	87	t	t	NOUN
afbr-403	92	88	)	)	PUNCT
afbr-403	92	89	.	.	PUNCT
afbr-403	93	1	thus	thus	ADV
afbr-403	93	2	,	,	PUNCT
afbr-403	93	3	the	the	DET
afbr-403	93	4	net	net	ADJ
afbr-403	93	5	tax	tax	NOUN
afbr-403	93	6	advantage	advantage	NOUN
afbr-403	93	7	of	of	ADP
afbr-403	93	8	debt	debt	NOUN
afbr-403	93	9	or	or	CCONJ
afbr-403	93	10	the	the	DET
afbr-403	93	11	interest	interest	NOUN
afbr-403	93	12	tax	tax	NOUN
afbr-403	93	13	shield	shield	NOUN
afbr-403	93	14	after	after	SCONJ
afbr-403	93	15	personal	personal	ADJ
afbr-403	93	16	taxes	taxis	NOUN
afbr-403	93	17	is	be	AUX
afbr-403	93	18	given	give	VERB
afbr-403	93	19	by	by	ADP
afbr-403	93	20	the	the	DET
afbr-403	93	21	following	following	NOUN
afbr-403	93	22	:	:	PUNCT
afbr-403	93	23	net	net	ADJ
afbr-403	93	24	tax	tax	NOUN
afbr-403	93	25	advantage	advantage	NOUN
afbr-403	93	26	of	of	ADP
afbr-403	93	27	debt=	debt=	PROPN
afbr-403	93	28	(	(	PUNCT
afbr-403	93	29	1	1	NUM
afbr-403	93	30	-	-	PUNCT
afbr-403	93	31	tpd	tpd	NOUN
afbr-403	93	32	)	)	PUNCT
afbr-403	93	33	-(1	-(1	PROPN
afbr-403	93	34	-	-	PUNCT
afbr-403	93	35	t)x	t)x	PUNCT
afbr-403	93	36	(	(	PUNCT
afbr-403	93	37	1	1	NUM
afbr-403	93	38	-	-	PUNCT
afbr-403	93	39	tpe	tpe	NOUN
afbr-403	93	40	)	)	PUNCT
afbr-403	93	41	36	36	NUM
afbr-403	93	42	net	net	ADJ
afbr-403	93	43	tax	tax	NOUN
afbr-403	93	44	advantage	advantage	NOUN
afbr-403	93	45	of	of	ADP
afbr-403	93	46	debt	debt	NOUN
afbr-403	93	47	=	=	SYM
afbr-403	93	48	(	(	PUNCT
afbr-403	93	49	t	t	NOUN
afbr-403	93	50	-tpd	-tpd	PUNCT
afbr-403	93	51	)	)	PUNCT
afbr-403	94	1	+	+	CCONJ
afbr-403	94	2	tpe(l	tpe(l	PROPN
afbr-403	94	3	-t	-t	NUM
afbr-403	94	4	)	)	PUNCT
afbr-403	94	5	37	37	NUM
afbr-403	94	6	personal	personal	ADJ
afbr-403	94	7	tax	tax	NOUN
afbr-403	94	8	rates	rate	NOUN
afbr-403	94	9	for	for	ADP
afbr-403	94	10	equity	equity	NOUN
afbr-403	94	11	income	income	NOUN
afbr-403	94	12	and	and	CCONJ
afbr-403	94	13	debt	debt	NOUN
afbr-403	94	14	income	income	NOUN
afbr-403	94	15	:	:	PUNCT
afbr-403	94	16	suppose	suppose	VERB
afbr-403	94	17	we	we	PRON
afbr-403	94	18	are	be	AUX
afbr-403	94	19	in	in	ADP
afbr-403	94	20	a	a	DET
afbr-403	94	21	country	country	NOUN
afbr-403	94	22	where	where	SCONJ
afbr-403	94	23	the	the	DET
afbr-403	94	24	government	government	NOUN
afbr-403	94	25	does	do	AUX
afbr-403	94	26	not	not	PART
afbr-403	94	27	distinguish	distinguish	VERB
afbr-403	94	28	between	between	ADP
afbr-403	94	29	interest	interest	NOUN
afbr-403	94	30	income	income	NOUN
afbr-403	94	31	,	,	PUNCT
afbr-403	94	32	dividends	dividend	NOUN
afbr-403	94	33	and	and	CCONJ
afbr-403	94	34	capital	capital	NOUN
afbr-403	94	35	gains	gain	NOUN
afbr-403	94	36	for	for	ADP
afbr-403	94	37	the	the	DET
afbr-403	94	38	purpose	purpose	NOUN
afbr-403	94	39	of	of	ADP
afbr-403	94	40	ta.xes	ta.xe	NOUN
afbr-403	94	41	and	and	CCONJ
afbr-403	94	42	has	have	VERB
afbr-403	94	43	one	one	NUM
afbr-403	94	44	rate	rate	NOUN
afbr-403	94	45	of	of	ADP
afbr-403	94	46	personal	personal	ADJ
afbr-403	94	47	tax	tax	NOUN
afbr-403	94	48	for	for	ADP
afbr-403	94	49	all	all	DET
afbr-403	94	50	personal	personal	ADJ
afbr-403	94	51	incomes	income	NOUN
afbr-403	94	52	.	.	PUNCT
afbr-403	95	1	in	in	ADP
afbr-403	95	2	this	this	DET
afbr-403	95	3	situation	situation	NOUN
afbr-403	95	4	,	,	PUNCT
afbr-403	95	5	the	the	DET
afbr-403	95	6	relative	relative	ADJ
afbr-403	95	7	advantage	advantage	NOUN
afbr-403	95	8	of	of	ADP
afbr-403	95	9	debt	debt	NOUN
afbr-403	95	10	comes	come	VERB
afbr-403	95	11	from	from	ADP
afbr-403	95	12	the	the	DET
afbr-403	95	13	corporate	corporate	ADJ
afbr-403	95	14	tax	tax	NOUN
afbr-403	95	15	rate	rate	NOUN
afbr-403	95	16	as	as	SCONJ
afbr-403	95	17	shown	show	VERB
afbr-403	95	18	by	by	ADP
afbr-403	95	19	the	the	DET
afbr-403	95	20	debt	debt	NOUN
afbr-403	95	21	advantage	advantage	NOUN
afbr-403	95	22	ratio	ratio	NOUN
afbr-403	95	23	:	:	PUNCT
afbr-403	95	24	tax	tax	NOUN
afbr-403	95	25	advantages	advantage	NOUN
afbr-403	95	26	of	of	ADP
afbr-403	95	27	debt	debt	NOUN
afbr-403	95	28	ratio	ratio	NOUN
afbr-403	95	29	=	=	PUNCT
afbr-403	95	30	)	)	PUNCT
afbr-403	95	31	1	1	NUM
afbr-403	95	32	(	(	PUNCT
afbr-403	95	33	1	1	NUM
afbr-403	95	34	)	)	PUNCT
afbr-403	95	35	1()1	1()1	NUM
afbr-403	95	36	(	(	PUNCT
afbr-403	95	37	)	)	PUNCT
afbr-403	95	38	1	1	NUM
afbr-403	95	39	(	(	PUNCT
afbr-403	95	40	ttt	ttt	PROPN
afbr-403	95	41	t	t	PROPN
afbr-403	95	42	pe	pe	PROPN
afbr-403	95	43	pd	pd	PROPN
afbr-403	95	44			PROPN
afbr-403	95	45			PROPN
afbr-403	95	46			PROPN
afbr-403	95	47			NOUN
afbr-403	95	48	38	38	NUM
afbr-403	95	49	if	if	SCONJ
afbr-403	95	50	the	the	DET
afbr-403	95	51	personal	personal	ADJ
afbr-403	95	52	tax	tax	NOUN
afbr-403	95	53	rate	rate	NOUN
afbr-403	95	54	for	for	ADP
afbr-403	95	55	equity	equity	NOUN
afbr-403	95	56	income	income	NOUN
afbr-403	95	57	and	and	CCONJ
afbr-403	95	58	interest	interest	NOUN
afbr-403	95	59	income	income	NOUN
afbr-403	95	60	is	be	AUX
afbr-403	95	61	same	same	ADJ
afbr-403	95	62	(	(	PUNCT
afbr-403	95	63	i.e.	i.e.	X
afbr-403	95	64	,	,	PUNCT
afbr-403	95	65	tpd	tpd	NOUN
afbr-403	95	66	=	=	SYM
afbr-403	95	67	tpe	tpe	NOUN
afbr-403	95	68	=	=	PUNCT
afbr-403	95	69	tp	tp	PROPN
afbr-403	95	70	)	)	PUNCT
afbr-403	95	71	then	then	ADV
afbr-403	95	72	the	the	DET
afbr-403	95	73	interest	interest	NOUN
afbr-403	95	74	tax	tax	NOUN
afbr-403	95	75	shield	shield	NOUN
afbr-403	95	76	(	(	PUNCT
afbr-403	95	77	ints	int	NOUN
afbr-403	95	78	)	)	PUNCT
afbr-403	95	79	after	after	SCONJ
afbr-403	95	80	all	all	DET
afbr-403	95	81	taxes	taxis	NOUN
afbr-403	95	82	is	be	AUX
afbr-403	95	83	given	give	VERB
afbr-403	95	84	as	as	SCONJ
afbr-403	95	85	follows	follow	VERB
afbr-403	95	86	:	:	PUNCT
afbr-403	95	87	ints	int	NOUN
afbr-403	95	88	=	=	SYM
afbr-403	95	89	kd	kd	PROPN
afbr-403	95	90	d(1	d(1	PROPN
afbr-403	95	91	-	-	PUNCT
afbr-403	95	92	tp)_(1	tp)_(1	NUM
afbr-403	95	93	-	-	PUNCT
afbr-403	95	94	t)(1	t)(1	NOUN
afbr-403	95	95	-	-	PUNCT
afbr-403	95	96	tp	tp	NOUN
afbr-403	95	97	)	)	PUNCT
afbr-403	95	98	39	39	NUM
afbr-403	96	1	=	=	NUM
afbr-403	96	2	kd	kd	X
afbr-403	96	3	dt	dt	X
afbr-403	96	4	(	(	PUNCT
afbr-403	96	5	1	1	NUM
afbr-403	96	6	-	-	PUNCT
afbr-403	96	7	tp	tp	NOUN
afbr-403	96	8	)	)	PUNCT
afbr-403	96	9	(	(	PUNCT
afbr-403	96	10	since	since	SCONJ
afbr-403	96	11	tpd	tpd	NOUN
afbr-403	96	12	=	=	SYM
afbr-403	96	13	tpe	tpe	NOUN
afbr-403	96	14	=	=	NOUN
afbr-403	96	15	tp	tp	NOUN
afbr-403	96	16	)	)	PUNCT
afbr-403	96	17	when	when	SCONJ
afbr-403	96	18	there	there	PRON
afbr-403	96	19	is	be	VERB
afbr-403	96	20	no	no	DET
afbr-403	96	21	difference	difference	NOUN
afbr-403	96	22	between	between	ADP
afbr-403	96	23	the	the	DET
afbr-403	96	24	personal	personal	ADJ
afbr-403	96	25	tax	tax	NOUN
afbr-403	96	26	rates	rate	NOUN
afbr-403	96	27	o1	o1	NOUN
afbr-403	96	28	.	.	PUNCT
afbr-403	96	29	equity	equity	NOUN
afbr-403	96	30	income	income	NOUN
afbr-403	96	31	and	and	CCONJ
afbr-403	96	32	interest	interest	NOUN
afbr-403	96	33	income	income	NOUN
afbr-403	96	34	,	,	PUNCT
afbr-403	96	35	then	then	ADV
afbr-403	96	36	the	the	DET
afbr-403	96	37	levered	lever	VERB
afbr-403	96	38	firm	firm	NOUN
afbr-403	96	39	’s	’s	PART
afbr-403	96	40	total	total	ADJ
afbr-403	96	41	income	income	NOUN
afbr-403	96	42	after	after	SCONJ
afbr-403	96	43	all	all	DET
afbr-403	96	44	taxes	taxis	NOUN
afbr-403	96	45	is	be	AUX
afbr-403	96	46	:	:	PUNCT
afbr-403	96	47	levered	levered	ADJ
afbr-403	96	48	firm	firm	NOUN
afbr-403	96	49	’s	’s	PART
afbr-403	96	50	income	income	NOUN
afbr-403	96	51	after	after	ADP
afbr-403	96	52	all	all	DET
afbr-403	96	53	taxes	taxis	NOUN
afbr-403	96	54	=	=	SYM
afbr-403	96	55	unlevered	unlevered	ADJ
afbr-403	96	56	firm	firm	NOUN
afbr-403	96	57	’s	’s	PART
afbr-403	96	58	income	income	NOUN
afbr-403	96	59	after	after	ADP
afbr-403	96	60	all	all	DET
afbr-403	96	61	taxes	taxis	NOUN
afbr-403	96	62	+	+	CCONJ
afbr-403	96	63	net	net	ADJ
afbr-403	96	64	tax	tax	NOUN
afbr-403	96	65	advantage	advantage	NOUN
afbr-403	96	66	of	of	ADP
afbr-403	96	67	debt	debt	NOUN
afbr-403	96	68	=	=	NOUN
afbr-403	96	69	(1	(1	NOUN
afbr-403	96	70	-	-	PUNCT
afbr-403	96	71	t)(1	t)(1	NOUN
afbr-403	96	72	-	-	PUNCT
afbr-403	96	73	tpe)+kd	tpe)+kd	PRON
afbr-403	96	74	td(1	td(1	NOUN
afbr-403	96	75	-	-	PUNCT
afbr-403	96	76	tp	tp	NOUN
afbr-403	96	77	)	)	PUNCT
afbr-403	96	78	40	40	NUM
afbr-403	96	79	you	you	PRON
afbr-403	96	80	may	may	AUX
afbr-403	96	81	notice	notice	VERB
afbr-403	96	82	that	that	SCONJ
afbr-403	96	83	the	the	DET
afbr-403	96	84	total	total	ADJ
afbr-403	96	85	income	income	NOUN
afbr-403	96	86	after	after	ADP
afbr-403	96	87	all	all	DET
afbr-403	96	88	taxes	taxis	NOUN
afbr-403	96	89	of	of	ADP
afbr-403	96	90	the	the	DET
afbr-403	96	91	unlevered	unlevered	ADJ
afbr-403	96	92	firm	firm	NOUN
afbr-403	96	93	is	be	AUX
afbr-403	96	94	:	:	PUNCT
afbr-403	96	95	unlevered	unlevered	ADJ
afbr-403	96	96	firm	firm	NOUN
afbr-403	96	97	’s	’s	PART
afbr-403	96	98	income	income	NOUN
afbr-403	96	99	after	after	ADP
afbr-403	96	100	all	all	DET
afbr-403	96	101	taxes	taxis	NOUN
afbr-403	96	102	=	=	PUNCT
afbr-403	96	103	(1	(1	NOUN
afbr-403	96	104	-	-	PUNCT
afbr-403	96	105	t)(1	t)(1	NOUN
afbr-403	96	106	-	-	PUNCT
afbr-403	96	107	tpe	tpe	NOUN
afbr-403	96	108	)	)	PUNCT
afbr-403	96	109	41	41	NUM
afbr-403	96	110	for	for	ADP
afbr-403	96	111	the	the	DET
afbr-403	96	112	levered	lever	VERB
afbr-403	96	113	firm	firm	NOUN
afbr-403	96	114	,	,	PUNCT
afbr-403	96	115	the	the	DET
afbr-403	96	116	total	total	ADJ
afbr-403	96	117	income	income	NOUN
afbr-403	96	118	after	after	SCONJ
afbr-403	96	119	all	all	DET
afbr-403	96	120	taxes	taxis	NOUN
afbr-403	96	121	is	be	AUX
afbr-403	96	122	:	:	PUNCT
afbr-403	96	123	levered	levered	ADJ
afbr-403	96	124	firm	firm	NOUN
afbr-403	96	125	’s	’s	PART
afbr-403	96	126	income	income	NOUN
afbr-403	96	127	after	after	ADP
afbr-403	96	128	all	all	DET
afbr-403	96	129	taxes\	taxes\	PROPN
afbr-403	96	130			NOUN
afbr-403	96	131			NOUN
afbr-403	96	132			PROPN
afbr-403	96	133			PROPN
afbr-403	96	134			NOUN
afbr-403	96	135			PROPN
afbr-403	96	136	pddped	pddpe	VERB
afbr-403	96	137	tdkttdxx	tdkttdxx	NOUN
afbr-403	96	138			NOUN
afbr-403	96	139	111	111	NUM
afbr-403	96	140	42	42	NUM
afbr-403	96	141			NOUN
afbr-403	96	142			NOUN
afbr-403	96	143			PUNCT
afbr-403	96	144			PROPN
afbr-403	96	145			NOUN
afbr-403	97	1			PROPN
afbr-403	97	2			NOUN
afbr-403	97	3			PROPN
afbr-403	97	4	pddpedpe	pddpedpe	NOUN
afbr-403	97	5	tdkttdkttx	tdkttdkttx	VERB
afbr-403	97	6			NOUN
afbr-403	97	7	11111	11111	NUM
afbr-403	97	8	43	43	NUM
afbr-403	97	9	copyright	copyright	NOUN
afbr-403	97	10	©	©	PROPN
afbr-403	97	11	cc	cc	PROPN
afbr-403	97	12	-	-	PUNCT
afbr-403	97	13	by	by	ADP
afbr-403	97	14	-	-	PUNCT
afbr-403	97	15	nc	nc	PROPN
afbr-403	97	16	2019	2019	NUM
afbr-403	97	17	,	,	PUNCT
afbr-403	97	18	cribfb	cribfb	PROPN
afbr-403	97	19	|	|	ADV
afbr-403	97	20	afbr	afbr	PROPN
afbr-403	97	21	www.cribfb.com/journal/index.php/afbr	www.cribfb.com/journal/index.php/afbr	ADJ
afbr-403	97	22	australian	australian	ADJ
afbr-403	97	23	finance	finance	PROPN
afbr-403	97	24	&	&	CCONJ
afbr-403	97	25	banking	banking	PROPN
afbr-403	97	26	review	review	PROPN
afbr-403	97	27	vol	vol	NOUN
afbr-403	97	28	.	.	PROPN
afbr-403	98	1	3	3	NUM
afbr-403	98	2	,	,	PUNCT
afbr-403	98	3	no	no	INTJ
afbr-403	98	4	.	.	NOUN
afbr-403	98	5	2	2	NUM
afbr-403	98	6	;	;	PUNCT
afbr-403	98	7	2019	2019	NUM
afbr-403	98	8	7	7	NUM
afbr-403	98	9			NOUN
afbr-403	98	10			NOUN
afbr-403	99	1			PROPN
afbr-403	99	2			NOUN
afbr-403	99	3			PUNCT
afbr-403	99	4			NOUN
afbr-403	99	5			X
afbr-403	100	1			PROPN
afbr-403	100	2	pdpddpe	pdpddpe	VERB
afbr-403	100	3	tttdkttx	tttdkttx	PRON
afbr-403	100	4			NOUN
afbr-403	100	5	11111	11111	NUM
afbr-403	100	6	44	44	NUM
afbr-403	100	7	taxespersonalafterdebtofcost	taxespersonalafterdebtofcost	NOUN
afbr-403	100	8	taxespersonaaftershieldtaxinterest	taxespersonaaftershieldtaxinterest	NOUN
afbr-403	100	9	pvints	pvint	NOUN
afbr-403	100	10	;	;	PUNCT
afbr-403	100	11			NUM
afbr-403	100	12	45	45	NUM
afbr-403	100	13	this	this	DET
afbr-403	100	14	present	present	ADJ
afbr-403	100	15	value	value	NOUN
afbr-403	100	16	of	of	ADP
afbr-403	100	17	the	the	DET
afbr-403	100	18	interest	interest	NOUN
afbr-403	100	19	tax	tax	NOUN
afbr-403	100	20	shield	shield	NOUN
afbr-403	100	21	after	after	SCONJ
afbr-403	100	22	personal	personal	ADJ
afbr-403	100	23	taxes	taxis	NOUN
afbr-403	100	24	is	be	AUX
afbr-403	100	25	same	same	ADJ
afbr-403	100	26	as	as	SCONJ
afbr-403	100	27	obtained	obtain	VERB
afbr-403	100	28	earlier	early	ADV
afbr-403	100	29	when	when	SCONJ
afbr-403	100	30	the	the	DET
afbr-403	100	31	personal	personal	ADJ
afbr-403	100	32	taxes	taxis	NOUN
afbr-403	100	33	were	be	AUX
afbr-403	100	34	ignored	ignore	VERB
afbr-403	100	35	.	.	PUNCT
afbr-403	100	36	)	)	PUNCT
afbr-403	101	1	1	1	NUM
afbr-403	101	2	(	(	PUNCT
afbr-403	101	3	;	;	PUNCT
afbr-403	101	4	1	1	NUM
afbr-403	101	5	(	(	PUNCT
afbr-403	101	6	ratetaxpersonaldebtofcost	ratetaxpersonaldebtofcost	VERB
afbr-403	101	7	ratetaxpersonalratetaxcorporateinterest	ratetaxpersonalratetaxcorporateinterest	NOUN
afbr-403	101	8	pvints	pvint	NOUN
afbr-403	101	9			PROPN
afbr-403	101	10			NOUN
afbr-403	101	11			NUM
afbr-403	101	12	46	46	NUM
afbr-403	101	13			NOUN
afbr-403	101	14			PROPN
afbr-403	101	15	td	td	NOUN
afbr-403	101	16	tk	tk	PROPN
afbr-403	101	17	ttdk	ttdk	NOUN
afbr-403	101	18	pdd	pdd	PROPN
afbr-403	101	19	pdd	pdd	PROPN
afbr-403	101	20			PROPN
afbr-403	101	21			PROPN
afbr-403	101	22			NOUN
afbr-403	101	23			ADJ
afbr-403	101	24	1	1	NUM
afbr-403	101	25	1	1	NUM
afbr-403	101	26	(	(	PUNCT
afbr-403	101	27	47	47	NUM
afbr-403	101	28	unequal	unequal	ADJ
afbr-403	101	29	personal	personal	ADJ
afbr-403	101	30	tax	tax	NOUN
afbr-403	101	31	rates	rate	NOUN
afbr-403	101	32	for	for	ADP
afbr-403	101	33	equity	equity	NOUN
afbr-403	101	34	income	income	NOUN
afbr-403	101	35	and	and	CCONJ
afbr-403	101	36	debt	debt	NOUN
afbr-403	101	37	income	income	NOUN
afbr-403	101	38	:	:	PUNCT
afbr-403	101	39	in	in	ADP
afbr-403	101	40	reality	reality	NOUN
afbr-403	101	41	,	,	PUNCT
afbr-403	101	42	in	in	ADP
afbr-403	101	43	a	a	DET
afbr-403	101	44	number	number	NOUN
afbr-403	101	45	of	of	ADP
afbr-403	101	46	countries	country	NOUN
afbr-403	101	47	,	,	PUNCT
afbr-403	101	48	dividends	dividend	NOUN
afbr-403	101	49	are	be	AUX
afbr-403	101	50	treated	treat	VERB
afbr-403	101	51	differently	differently	ADV
afbr-403	101	52	from	from	ADP
afbr-403	101	53	interest	interest	NOUN
afbr-403	101	54	income	income	NOUN
afbr-403	101	55	for	for	ADP
afbr-403	101	56	tax	tax	NOUN
afbr-403	101	57	purposes	purpose	NOUN
afbr-403	101	58	.	.	PUNCT
afbr-403	102	1	debt	debt	NOUN
afbr-403	102	2	-	-	PUNCT
afbr-403	102	3	holders	holder	NOUN
afbr-403	102	4	are	be	AUX
afbr-403	102	5	required	require	VERB
afbr-403	102	6	to	to	PART
afbr-403	102	7	pay	pay	VERB
afbr-403	102	8	personal	personal	ADJ
afbr-403	102	9	tax	tax	NOUN
afbr-403	102	10	on	on	ADP
afbr-403	102	11	interest	interest	NOUN
afbr-403	102	12	income	income	NOUN
afbr-403	102	13	.	.	PUNCT
afbr-403	103	1	miller	miller	PROPN
afbr-403	103	2	’s	’s	PART
afbr-403	103	3	model	model	NOUN
afbr-403	103	4	"	"	PUNCT
afbr-403	103	5	as	as	SCONJ
afbr-403	103	6	we	we	PRON
afbr-403	103	7	know	know	VERB
afbr-403	103	8	,	,	PUNCT
afbr-403	103	9	the	the	DET
afbr-403	103	10	present	present	ADJ
afbr-403	103	11	value	value	NOUN
afbr-403	103	12	of	of	ADP
afbr-403	103	13	interest	interest	NOUN
afbr-403	103	14	tax	tax	NOUN
afbr-403	103	15	shield	shield	NOUN
afbr-403	103	16	(	(	PUNCT
afbr-403	103	17	pvints	pvint	NOUN
afbr-403	103	18	)	)	PUNCT
afbr-403	103	19	represents	represent	VERB
afbr-403	103	20	gain	gain	NOUN
afbr-403	103	21	from	from	ADP
afbr-403	103	22	financial	financial	ADJ
afbr-403	103	23	leverage	leverage	NOUN
afbr-403	103	24	,	,	PUNCT
afbr-403	103	25	and	and	CCONJ
afbr-403	103	26	it	it	PRON
afbr-403	103	27	is	be	AUX
afbr-403	103	28	the	the	DET
afbr-403	103	29	difference	difference	NOUN
afbr-403	103	30	between	between	ADP
afbr-403	103	31	the	the	DET
afbr-403	103	32	value	value	NOUN
afbr-403	103	33	of	of	ADP
afbr-403	103	34	the	the	DET
afbr-403	103	35	levered	lever	VERB
afbr-403	103	36	firm	firm	NOUN
afbr-403	103	37	and	and	CCONJ
afbr-403	103	38	the	the	DET
afbr-403	103	39	value	value	NOUN
afbr-403	103	40	of	of	ADP
afbr-403	103	41	the	the	DET
afbr-403	103	42	unlevered	unlevered	ADJ
afbr-403	103	43	firm	firm	NOUN
afbr-403	103	44	.	.	PUNCT
afbr-403	104	1	you	you	PRON
afbr-403	104	2	will	will	AUX
afbr-403	104	3	recall	recall	VERB
afbr-403	104	4	that	that	SCONJ
afbr-403	104	5	this	this	PRON
afbr-403	104	6	is	be	AUX
afbr-403	104	7	the	the	DET
afbr-403	104	8	mm	mm	PROPN
afbr-403	104	9	hypothesis	hypothesis	NOUN
afbr-403	104	10	with	with	ADP
afbr-403	104	11	corporate	corporate	ADJ
afbr-403	104	12	tax	tax	NOUN
afbr-403	104	13	.	.	PUNCT
afbr-403	105	1	miller	miller	PROPN
afbr-403	105	2	introduced	introduce	VERB
afbr-403	105	3	personal	personal	ADJ
afbr-403	105	4	taxes	taxis	NOUN
afbr-403	105	5	in	in	ADP
afbr-403	105	6	the	the	DET
afbr-403	105	7	model	model	NOUN
afbr-403	105	8	.	.	PUNCT
afbr-403	106	1	unlevered	unlevered	PROPN
afbr-403	106	2	firm	firm	NOUN
afbr-403	106	3	’s	’s	PART
afbr-403	106	4	income	income	NOUN
afbr-403	106	5	after	after	ADP
afbr-403	106	6	all	all	DET
afbr-403	106	7	taxes	taxis	NOUN
afbr-403	106	8	"	"	PUNCT
afbr-403	107	1	=	=	SYM
afbr-403	107	2	x	x	SYM
afbr-403	107	3	(	(	PUNCT
afbr-403	107	4	1	1	NUM
afbr-403	107	5	-	-	PUNCT
afbr-403	107	6	t	t	NOUN
afbr-403	107	7	)	)	PUNCT
afbr-403	107	8	(	(	PUNCT
afbr-403	107	9	1	1	NUM
afbr-403	107	10	-	-	PUNCT
afbr-403	107	11	tpe	tpe	NOUN
afbr-403	107	12	)	)	PUNCT
afbr-403	107	13	since	since	SCONJ
afbr-403	107	14	these	these	DET
afbr-403	107	15	cash	cash	NOUN
afbr-403	107	16	flows	flow	NOUN
afbr-403	107	17	are	be	AUX
afbr-403	107	18	after	after	ADP
afbr-403	107	19	the	the	DET
afbr-403	107	20	corporate	corporate	ADJ
afbr-403	107	21	tax	tax	NOUN
afbr-403	107	22	as	as	ADV
afbr-403	107	23	well	well	ADV
afbr-403	107	24	as	as	ADP
afbr-403	107	25	the	the	DET
afbr-403	107	26	personal	personal	ADJ
afbr-403	107	27	tax	tax	NOUN
afbr-403	107	28	,	,	PUNCT
afbr-403	107	29	the	the	DET
afbr-403	107	30	appropriate	appropriate	ADJ
afbr-403	107	31	discount	discount	NOUN
afbr-403	107	32	rate	rate	NOUN
afbr-403	107	33	will	will	AUX
afbr-403	107	34	be	be	AUX
afbr-403	107	35	the	the	DET
afbr-403	107	36	pure	pure	ADJ
afbr-403	107	37	-	-	PUNCT
afbr-403	107	38	equity	equity	NOUN
afbr-403	107	39	capitalization	capitalization	NOUN
afbr-403	107	40	rate	rate	NOUN
afbr-403	107	41	,	,	PUNCT
afbr-403	107	42	ka	ka	PROPN
afbr-403	107	43	(	(	PUNCT
afbr-403	107	44	or	or	CCONJ
afbr-403	107	45	k	k	NOUN
afbr-403	107	46	)	)	PUNCT
afbr-403	107	47	adjusted	adjust	VERB
afbr-403	107	48	for	for	ADP
afbr-403	107	49	personal	personal	ADJ
afbr-403	107	50	taxes	taxis	NOUN
afbr-403	107	51	,	,	PUNCT
afbr-403	107	52	i.e.	i.e.	X
afbr-403	107	53	,	,	PUNCT
afbr-403	107	54	ka	ka	X
afbr-403	107	55	(	(	PUNCT
afbr-403	107	56	1	1	NUM
afbr-403	107	57	-	-	PUNCT
afbr-403	107	58	tpe	tpe	NOUN
afbr-403	107	59	)	)	PUNCT
afbr-403	107	60	the	the	DET
afbr-403	107	61	value	value	NOUN
afbr-403	107	62	of	of	ADP
afbr-403	107	63	the	the	DET
afbr-403	107	64	unlevered	unlevered	ADJ
afbr-403	107	65	firm	firm	NOUN
afbr-403	107	66	with	with	ADP
afbr-403	107	67	corporate	corporate	ADJ
afbr-403	107	68	and	and	CCONJ
afbr-403	107	69	personal	personal	ADJ
afbr-403	107	70	taxes	taxis	NOUN
afbr-403	107	71	will	will	AUX
afbr-403	107	72	be	be	AUX
afbr-403	107	73	:	:	PUNCT
afbr-403	107	74			PROPN
afbr-403	107	75			NOUN
afbr-403	108	1			PUNCT
afbr-403	108	2			NOUN
afbr-403	108	3			PUNCT
afbr-403	109	1			PROPN
afbr-403	109	2			PROPN
afbr-403	109	3			PUNCT
afbr-403	109	4			PROPN
afbr-403	109	5	peu	peu	PROPN
afbr-403	109	6	pe	pe	PROPN
afbr-403	109	7	u	u	PROPN
afbr-403	109	8	tk	tk	PROPN
afbr-403	109	9	ttx	ttx	PROPN
afbr-403	109	10	v	v	ADP
afbr-403	109	11	1	1	NUM
afbr-403	109	12	11	11	NUM
afbr-403	109	13	49	49	NUM
afbr-403	109	14	in	in	ADP
afbr-403	109	15	case	case	NOUN
afbr-403	109	16	of	of	ADP
afbr-403	109	17	the	the	DET
afbr-403	109	18	levered	lever	VERB
afbr-403	109	19	firm	firm	NOUN
afbr-403	109	20	,	,	PUNCT
afbr-403	109	21	the	the	DET
afbr-403	109	22	shareholders	shareholder	NOUN
afbr-403	109	23	’	'	PUNCT
afbr-403	109	24	income	income	NOUN
afbr-403	109	25	is	be	AUX
afbr-403	109	26	adjusted	adjust	VERB
afbr-403	109	27	for	for	ADP
afbr-403	109	28	interest	interest	NOUN
afbr-403	109	29	before	before	ADP
afbr-403	109	30	calculating	calculate	VERB
afbr-403	109	31	corporate	corporate	ADJ
afbr-403	109	32	and	and	CCONJ
afbr-403	109	33	personal	personal	ADJ
afbr-403	109	34	taxes	taxis	NOUN
afbr-403	109	35	as	as	SCONJ
afbr-403	109	36	shown	show	VERB
afbr-403	109	37	below	below	ADP
afbr-403	109	38	:	:	PUNCT
afbr-403	109	39	the	the	DET
afbr-403	109	40	levered	lever	VERB
afbr-403	109	41	firm	firm	NOUN
afbr-403	109	42	’s	’s	PART
afbr-403	109	43	debt	debt	NOUN
afbr-403	109	44	-	-	PUNCT
afbr-403	109	45	holders	holder	NOUN
afbr-403	109	46	’	'	PUNCT
afbr-403	109	47	income	income	NOUN
afbr-403	109	48	after	after	SCONJ
afbr-403	109	49	personal	personal	ADJ
afbr-403	109	50	taxes	taxis	NOUN
afbr-403	109	51	will	will	AUX
afbr-403	109	52	be	be	AUX
afbr-403	109	53	:	:	PUNCT
afbr-403	109	54	debt	debt	NOUN
afbr-403	109	55	-	-	PUNCT
afbr-403	109	56	holders	holder	NOUN
afbr-403	109	57	’	'	PUNCT
afbr-403	109	58	income	income	NOUN
afbr-403	109	59	after	after	ADP
afbr-403	109	60	personal	personal	ADJ
afbr-403	109	61	tax	tax	NOUN
afbr-403	109	62	=	=	PUNCT
afbr-403	109	63	kd	kd	PROPN
afbr-403	109	64	d	d	PROPN
afbr-403	109	65	(	(	PUNCT
afbr-403	109	66	1	1	NUM
afbr-403	109	67	-	-	PUNCT
afbr-403	109	68	tpd	tpd	NOUN
afbr-403	109	69	)	)	PUNCT
afbr-403	109	70	50	50	NUM
afbr-403	109	71	the	the	DET
afbr-403	109	72	levered	lever	VERB
afbr-403	109	73	firm	firm	NOUN
afbr-403	109	74	’s	’s	PART
afbr-403	109	75	combined	combine	VERB
afbr-403	109	76	income	income	NOUN
afbr-403	109	77	to	to	ADP
afbr-403	109	78	investors	investor	NOUN
afbr-403	109	79	(	(	PUNCT
afbr-403	109	80	shareholders	shareholder	NOUN
afbr-403	109	81	and	and	CCONJ
afbr-403	109	82	debt	debt	NOUN
afbr-403	109	83	-	-	PUNCT
afbr-403	109	84	holders	holder	NOUN
afbr-403	109	85	)	)	PUNCT
afbr-403	109	86	after	after	ADP
afbr-403	109	87	corporate	corporate	ADJ
afbr-403	109	88	and	and	CCONJ
afbr-403	109	89	personal	personal	ADJ
afbr-403	109	90	taxes	taxis	NOUN
afbr-403	109	91	will	will	AUX
afbr-403	109	92	be	be	AUX
afbr-403	109	93	:	:	PUNCT
afbr-403	109	94	levered	levered	ADJ
afbr-403	109	95	firm	firm	NOUN
afbr-403	109	96	’s	’s	PART
afbr-403	109	97	combined	combine	VERB
afbr-403	109	98	income	income	NOUN
afbr-403	109	99	after	after	SCONJ
afbr-403	109	100	all	all	DET
afbr-403	109	101	taxes	taxis	NOUN
afbr-403	109	102			NOUN
afbr-403	109	103			NOUN
afbr-403	109	104			PUNCT
afbr-403	109	105			PROPN
afbr-403	109	106			NOUN
afbr-403	110	1			PROPN
afbr-403	110	2	pedpe	pedpe	NOUN
afbr-403	110	3	ttdkttx	ttdkttx	VERB
afbr-403	110	4			PROPN
afbr-403	110	5	1111	1111	NUM
afbr-403	110	6	51	51	NUM
afbr-403	110	7			NOUN
afbr-403	110	8			PROPN
afbr-403	110	9	ped	ped	ADJ
afbr-403	110	10	tdk	tdk	NOUN
afbr-403	110	11	1	1	NOUN
afbr-403	110	12	52	52	NUM
afbr-403	110	13	copyright	copyright	NOUN
afbr-403	110	14	©	©	PROPN
afbr-403	110	15	cc	cc	NOUN
afbr-403	110	16	-	-	PUNCT
afbr-403	110	17	by	by	ADP
afbr-403	110	18	-	-	PUNCT
afbr-403	110	19	nc	nc	PROPN
afbr-403	110	20	2019	2019	NUM
afbr-403	110	21	,	,	PUNCT
afbr-403	110	22	cribfb	cribfb	PROPN
afbr-403	110	23	|	|	ADV
afbr-403	110	24	afbr	afbr	PROPN
afbr-403	110	25	www.cribfb.com/journal/index.php/afbr	www.cribfb.com/journal/index.php/afbr	ADJ
afbr-403	110	26	australian	australian	ADJ
afbr-403	110	27	finance	finance	PROPN
afbr-403	110	28	&	&	CCONJ
afbr-403	110	29	banking	banking	PROPN
afbr-403	110	30	review	review	PROPN
afbr-403	110	31	vol	vol	NOUN
afbr-403	110	32	.	.	PROPN
afbr-403	111	1	3	3	NUM
afbr-403	111	2	,	,	PUNCT
afbr-403	111	3	no	no	INTJ
afbr-403	111	4	.	.	NOUN
afbr-403	111	5	2	2	NUM
afbr-403	111	6	;	;	PUNCT
afbr-403	111	7	2019	2019	NUM
afbr-403	111	8	8	8	NUM
afbr-403	111	9			NOUN
afbr-403	111	10			NOUN
afbr-403	112	1			PROPN
afbr-403	112	2			NOUN
afbr-403	112	3			PUNCT
afbr-403	112	4			NOUN
afbr-403	112	5			NOUN
afbr-403	113	1			PROPN
afbr-403	113	2	pepedpe	pepedpe	NOUN
afbr-403	113	3	tttdkttx	tttdkttx	PRON
afbr-403	113	4			NOUN
afbr-403	113	5	11111	11111	NUM
afbr-403	113	6	53	53	NUM
afbr-403	113	7	the	the	DET
afbr-403	113	8	unlevered	unlevered	ADJ
afbr-403	113	9	firms	firm	NOUN
afbr-403	113	10	’	’	PART
afbr-403	113	11	income	income	NOUN
afbr-403	113	12	after	after	ADP
afbr-403	113	13	all	all	DET
afbr-403	113	14	taxes	taxis	NOUN
afbr-403	113	15	.	.	PUNCT
afbr-403	114	1	hence	hence	ADV
afbr-403	114	2	,	,	PUNCT
afbr-403	114	3	the	the	DET
afbr-403	114	4	value	value	NOUN
afbr-403	114	5	of	of	ADP
afbr-403	114	6	these	these	DET
afbr-403	114	7	cash	cash	NOUN
afbr-403	114	8	flows	flow	NOUN
afbr-403	114	9	is	be	AUX
afbr-403	114	10	equal	equal	ADJ
afbr-403	114	11	to	to	ADP
afbr-403	114	12	the	the	DET
afbr-403	114	13	value	value	NOUN
afbr-403	114	14	of	of	ADP
afbr-403	114	15	unlevered	unlevered	ADJ
afbr-403	114	16	firm	firm	NOUN
afbr-403	114	17	,	,	PUNCT
afbr-403	114	18	v.	v.	ADP
afbr-403	114	19	the	the	DET
afbr-403	114	20	second	second	ADJ
afbr-403	114	21	term	term	NOUN
afbr-403	114	22	is	be	AUX
afbr-403	114	23	interest	interest	NOUN
afbr-403	114	24	tax	tax	NOUN
afbr-403	114	25	shield	shield	NOUN
afbr-403	114	26	including	include	VERB
afbr-403	114	27	the	the	DET
afbr-403	114	28	effect	effect	NOUN
afbr-403	114	29	of	of	ADP
afbr-403	114	30	personal	personal	ADJ
afbr-403	114	31	taxes	taxis	NOUN
afbr-403	114	32	.	.	PUNCT
afbr-403	115	1	therefore	therefore	ADV
afbr-403	115	2	,	,	PUNCT
afbr-403	115	3	these	these	DET
afbr-403	115	4	cash	cash	NOUN
afbr-403	115	5	flows	flow	NOUN
afbr-403	115	6	have	have	VERB
afbr-403	115	7	the	the	DET
afbr-403	115	8	same	same	ADJ
afbr-403	115	9	risk	risk	NOUN
afbr-403	115	10	as	as	ADP
afbr-403	115	11	the	the	DET
afbr-403	115	12	interest	interest	NOUN
afbr-403	115	13	payments	payment	NOUN
afbr-403	115	14	,	,	PUNCT
afbr-403	115	15	and	and	CCONJ
afbr-403	115	16	the	the	DET
afbr-403	115	17	appropriate	appropriate	ADJ
afbr-403	115	18	rate	rate	NOUN
afbr-403	115	19	to	to	PART
afbr-403	115	20	discount	discount	VERB
afbr-403	115	21	these	these	DET
afbr-403	115	22	cash	cash	NOUN
afbr-403	115	23	flows	flow	NOUN
afbr-403	115	24	is	be	AUX
afbr-403	115	25	kd	kd	NOUN
afbr-403	115	26	(	(	PUNCT
afbr-403	115	27	1	1	NUM
afbr-403	115	28	tpd	tpd	NOUN
afbr-403	115	29	)	)	PUNCT
afbr-403	115	30	.	.	PUNCT
afbr-403	116	1	thus	thus	ADV
afbr-403	116	2	,	,	PUNCT
afbr-403	116	3	the	the	DET
afbr-403	116	4	value	value	NOUN
afbr-403	116	5	of	of	ADP
afbr-403	116	6	the	the	DET
afbr-403	116	7	levered	lever	VERB
afbr-403	116	8	firm	firm	NOUN
afbr-403	116	9	is	be	AUX
afbr-403	116	10	equal	equal	ADJ
afbr-403	116	11	to	to	ADP
afbr-403	116	12	the	the	DET
afbr-403	116	13	value	value	NOUN
afbr-403	116	14	of	of	ADP
afbr-403	116	15	the	the	DET
afbr-403	116	16	unlevered	unlevered	ADJ
afbr-403	116	17	firm	firm	NOUN
afbr-403	116	18	plus	plus	CCONJ
afbr-403	116	19	the	the	DET
afbr-403	116	20	present	present	ADJ
afbr-403	116	21	value	value	NOUN
afbr-403	116	22	of	of	ADP
afbr-403	116	23	interest	interest	NOUN
afbr-403	116	24	tax	tax	NOUN
afbr-403	116	25	shield	shield	NOUN
afbr-403	116	26	:	:	PUNCT
afbr-403	116	27			PROPN
afbr-403	116	28			PROPN
afbr-403	117	1			PROPN
afbr-403	117	2			NOUN
afbr-403	117	3			SYM
afbr-403	117	4			NOUN
afbr-403	117	5			PUNCT
afbr-403	117	6			NOUN
afbr-403	118	1			NOUN
afbr-403	118	2			PUNCT
afbr-403	118	3			NOUN
afbr-403	118	4			PROPN
afbr-403	118	5	ped	ped	NOUN
afbr-403	118	6	peped	peped	AUX
afbr-403	118	7	ped	ped	NOUN
afbr-403	118	8	pe	pe	PROPN
afbr-403	118	9	tk	tk	PROPN
afbr-403	118	10	tttdk	tttdk	PROPN
afbr-403	118	11	tk	tk	PROPN
afbr-403	118	12	ttx	ttx	PROPN
afbr-403	118	13	v	v	ADP
afbr-403	118	14			PROPN
afbr-403	118	15			PROPN
afbr-403	118	16			VERB
afbr-403	118	17			NOUN
afbr-403	118	18			NUM
afbr-403	118	19			NUM
afbr-403	118	20	1	1	NUM
afbr-403	118	21	111	111	NUM
afbr-403	118	22	1	1	NUM
afbr-403	118	23	11	11	NUM
afbr-403	118	24	1	1	NUM
afbr-403	118	25	54	54	NUM
afbr-403	118	26	modigliani	modigliani	NOUN
afbr-403	118	27	and	and	CCONJ
afbr-403	118	28	miller	miller	PROPN
afbr-403	118	29	(	(	PUNCT
afbr-403	118	30	mm	mm	PROPN
afbr-403	118	31	)	)	PUNCT
afbr-403	118	32	,	,	PUNCT
afbr-403	118	33	1958	1958	NUM
afbr-403	118	34	,	,	PUNCT
afbr-403	118	35	illustrate	illustrate	VERB
afbr-403	118	36	that	that	SCONJ
afbr-403	118	37	,	,	PUNCT
afbr-403	118	38	under	under	ADP
afbr-403	118	39	certain	certain	ADJ
afbr-403	118	40	basic	basic	ADJ
afbr-403	118	41	assumptions	assumption	NOUN
afbr-403	118	42	,	,	PUNCT
afbr-403	118	43	the	the	DET
afbr-403	118	44	value	value	NOUN
afbr-403	118	45	of	of	ADP
afbr-403	118	46	a	a	DET
afbr-403	118	47	company	company	NOUN
afbr-403	118	48	is	be	AUX
afbr-403	118	49	not	not	PART
afbr-403	118	50	affected	affect	VERB
afbr-403	118	51	by	by	ADP
afbr-403	118	52	its	its	PRON
afbr-403	118	53	capital	capital	NOUN
afbr-403	118	54	structure	structure	NOUN
afbr-403	118	55	.	.	PUNCT
afbr-403	119	1	the	the	DET
afbr-403	119	2	capital	capital	NOUN
afbr-403	119	3	market	market	NOUN
afbr-403	119	4	is	be	AUX
afbr-403	119	5	supposed	suppose	VERB
afbr-403	119	6	to	to	PART
afbr-403	119	7	be	be	AUX
afbr-403	119	8	perfect	perfect	ADJ
afbr-403	119	9	in	in	ADP
afbr-403	119	10	a	a	DET
afbr-403	119	11	modiglian	modiglian	NOUN
afbr-403	119	12	and	and	CCONJ
afbr-403	119	13	miller	miller	PROPN
afbr-403	119	14	world	world	PROPN
afbr-403	119	15	where	where	SCONJ
afbr-403	119	16	internal	internal	ADJ
afbr-403	119	17	and	and	CCONJ
afbr-403	119	18	external	external	ADJ
afbr-403	119	19	people	people	NOUN
afbr-403	119	20	have	have	VERB
afbr-403	119	21	free	free	ADJ
afbr-403	119	22	access	access	NOUN
afbr-403	119	23	to	to	ADP
afbr-403	119	24	information	information	NOUN
afbr-403	119	25	;	;	PUNCT
afbr-403	119	26	no	no	DET
afbr-403	119	27	transaction	transaction	NOUN
afbr-403	119	28	costs	cost	NOUN
afbr-403	119	29	,	,	PUNCT
afbr-403	119	30	bankruptcy	bankruptcy	NOUN
afbr-403	119	31	costs	cost	NOUN
afbr-403	119	32	or	or	CCONJ
afbr-403	119	33	taxes	taxis	NOUN
afbr-403	119	34	;	;	PUNCT
afbr-403	119	35	the	the	DET
afbr-403	119	36	choice	choice	NOUN
afbr-403	119	37	of	of	ADP
afbr-403	119	38	equities	equity	NOUN
afbr-403	119	39	and	and	CCONJ
afbr-403	119	40	debt	debt	NOUN
afbr-403	119	41	becomes	become	VERB
afbr-403	119	42	irrelevant	irrelevant	ADJ
afbr-403	119	43	and	and	CCONJ
afbr-403	119	44	domestic	domestic	ADJ
afbr-403	119	45	and	and	CCONJ
afbr-403	119	46	foreign	foreign	ADJ
afbr-403	119	47	funds	fund	NOUN
afbr-403	119	48	can	can	AUX
afbr-403	119	49	be	be	AUX
afbr-403	119	50	perfectly	perfectly	ADV
afbr-403	119	51	replaced	replace	VERB
afbr-403	119	52	.	.	PUNCT
afbr-403	120	1	m	m	PROPN
afbr-403	120	2	-	-	NOUN
afbr-403	120	3	m	m	PROPN
afbr-403	120	4	theory	theory	NOUN
afbr-403	120	5	(	(	PUNCT
afbr-403	120	6	1958	1958	NUM
afbr-403	120	7	)	)	PUNCT
afbr-403	120	8	states	state	VERB
afbr-403	120	9	that	that	SCONJ
afbr-403	120	10	the	the	DET
afbr-403	120	11	value	value	NOUN
afbr-403	120	12	of	of	ADP
afbr-403	120	13	a	a	DET
afbr-403	120	14	company	company	NOUN
afbr-403	120	15	should	should	AUX
afbr-403	120	16	not	not	PART
afbr-403	120	17	depend	depend	VERB
afbr-403	120	18	on	on	ADP
afbr-403	120	19	its	its	PRON
afbr-403	120	20	capital	capital	NOUN
afbr-403	120	21	structure	structure	NOUN
afbr-403	120	22	.	.	PUNCT
afbr-403	121	1	the	the	DET
afbr-403	121	2	theory	theory	NOUN
afbr-403	121	3	further	far	ADV
afbr-403	121	4	argued	argue	VERB
afbr-403	121	5	that	that	SCONJ
afbr-403	121	6	a	a	DET
afbr-403	121	7	company	company	NOUN
afbr-403	121	8	should	should	AUX
afbr-403	121	9	have	have	VERB
afbr-403	121	10	the	the	DET
afbr-403	121	11	same	same	ADJ
afbr-403	121	12	market	market	NOUN
afbr-403	121	13	value	value	NOUN
afbr-403	121	14	and	and	CCONJ
afbr-403	121	15	the	the	DET
afbr-403	121	16	same	same	ADJ
afbr-403	121	17	weighted	weight	VERB
afbr-403	121	18	average	average	ADJ
afbr-403	121	19	cost	cost	NOUN
afbr-403	121	20	of	of	ADP
afbr-403	121	21	capital	capital	NOUN
afbr-403	121	22	(	(	PUNCT
afbr-403	121	23	wacc	wacc	PROPN
afbr-403	121	24	)	)	PUNCT
afbr-403	121	25	at	at	ADP
afbr-403	121	26	all	all	DET
afbr-403	121	27	levels	level	NOUN
afbr-403	121	28	of	of	ADP
afbr-403	121	29	the	the	DET
afbr-403	121	30	capital	capital	NOUN
afbr-403	121	31	structure	structure	NOUN
afbr-403	121	32	,	,	PUNCT
afbr-403	121	33	since	since	SCONJ
afbr-403	121	34	the	the	DET
afbr-403	121	35	value	value	NOUN
afbr-403	121	36	of	of	ADP
afbr-403	121	37	the	the	DET
afbr-403	121	38	company	company	NOUN
afbr-403	121	39	should	should	AUX
afbr-403	121	40	depend	depend	VERB
afbr-403	121	41	on	on	ADP
afbr-403	121	42	its	its	PRON
afbr-403	121	43	performance	performance	NOUN
afbr-403	121	44	and	and	CCONJ
afbr-403	121	45	risks	risk	NOUN
afbr-403	121	46	.	.	PUNCT
afbr-403	122	1	and	and	CCONJ
afbr-403	122	2	not	not	PART
afbr-403	122	3	on	on	ADP
afbr-403	122	4	the	the	DET
afbr-403	122	5	way	way	NOUN
afbr-403	122	6	fund	fund	NOUN
afbr-403	122	7	these	these	DET
afbr-403	122	8	operations	operation	NOUN
afbr-403	122	9	.	.	PUNCT
afbr-403	123	1	miller	miller	PROPN
afbr-403	123	2	presented	present	VERB
afbr-403	123	3	the	the	DET
afbr-403	123	4	following	follow	VERB
afbr-403	123	5	version	version	NOUN
afbr-403	123	6	of	of	ADP
afbr-403	123	7	the	the	DET
afbr-403	123	8	theory	theory	NOUN
afbr-403	123	9	of	of	ADP
afbr-403	123	10	capital	capital	NOUN
afbr-403	123	11	structure	structure	NOUN
afbr-403	123	12	insignificance	insignificance	NOUN
afbr-403	123	13	.	.	PUNCT
afbr-403	124	1	he	he	PRON
afbr-403	124	2	appealed	appeal	VERB
afbr-403	124	3	that	that	SCONJ
afbr-403	124	4	decisions	decision	NOUN
afbr-403	124	5	on	on	ADP
afbr-403	124	6	the	the	DET
afbr-403	124	7	capital	capital	NOUN
afbr-403	124	8	structure	structure	NOUN
afbr-403	124	9	of	of	ADP
afbr-403	124	10	companies	company	NOUN
afbr-403	124	11	and	and	CCONJ
afbr-403	124	12	companies	company	NOUN
afbr-403	124	13	subject	subject	ADJ
afbr-403	124	14	to	to	ADP
afbr-403	124	15	personal	personal	ADJ
afbr-403	124	16	taxation	taxation	NOUN
afbr-403	124	17	are	be	AUX
afbr-403	124	18	irrelevant	irrelevant	ADJ
afbr-403	124	19	(	(	PUNCT
afbr-403	124	20	miller	miller	NOUN
afbr-403	124	21	1977	1977	NUM
afbr-403	124	22	)	)	PUNCT
afbr-403	124	23	.	.	PUNCT
afbr-403	125	1	if	if	SCONJ
afbr-403	125	2	these	these	DET
afbr-403	125	3	key	key	ADJ
afbr-403	125	4	assumptions	assumption	NOUN
afbr-403	125	5	are	be	AUX
afbr-403	125	6	relaxed	relax	VERB
afbr-403	125	7	,	,	PUNCT
afbr-403	125	8	the	the	DET
afbr-403	125	9	capital	capital	NOUN
afbr-403	125	10	structure	structure	NOUN
afbr-403	125	11	may	may	AUX
afbr-403	125	12	become	become	VERB
afbr-403	125	13	relevant	relevant	ADJ
afbr-403	125	14	to	to	ADP
afbr-403	125	15	the	the	DET
afbr-403	125	16	value	value	NOUN
afbr-403	125	17	of	of	ADP
afbr-403	125	18	the	the	DET
afbr-403	125	19	business	business	NOUN
afbr-403	125	20	.	.	PUNCT
afbr-403	126	1	therefore	therefore	ADV
afbr-403	126	2	,	,	PUNCT
afbr-403	126	3	research	research	NOUN
afbr-403	126	4	has	have	AUX
afbr-403	126	5	helped	help	VERB
afbr-403	126	6	to	to	PART
afbr-403	126	7	alleviate	alleviate	VERB
afbr-403	126	8	ideal	ideal	ADJ
afbr-403	126	9	assumptions	assumption	NOUN
afbr-403	126	10	and	and	CCONJ
afbr-403	126	11	describe	describe	VERB
afbr-403	126	12	the	the	DET
afbr-403	126	13	consequences	consequence	NOUN
afbr-403	126	14	.	.	PUNCT
afbr-403	127	1	this	this	DET
afbr-403	127	2	theory	theory	NOUN
afbr-403	127	3	was	be	AUX
afbr-403	127	4	criticized	criticize	VERB
afbr-403	127	5	because	because	SCONJ
afbr-403	127	6	there	there	PRON
afbr-403	127	7	was	be	VERB
afbr-403	127	8	no	no	DET
afbr-403	127	9	perfect	perfect	ADJ
afbr-403	127	10	market	market	NOUN
afbr-403	127	11	in	in	ADP
afbr-403	127	12	real	real	ADJ
afbr-403	127	13	life	life	NOUN
afbr-403	127	14	.	.	PUNCT
afbr-403	128	1	attempts	attempt	VERB
afbr-403	128	2	to	to	PART
afbr-403	128	3	alleviate	alleviate	VERB
afbr-403	128	4	these	these	DET
afbr-403	128	5	assumptions	assumption	NOUN
afbr-403	128	6	,	,	PUNCT
afbr-403	128	7	especially	especially	ADV
afbr-403	128	8	bankruptcy	bankruptcy	NOUN
afbr-403	128	9	-	-	PUNCT
afbr-403	128	10	free	free	ADJ
afbr-403	128	11	costs	cost	NOUN
afbr-403	128	12	and	and	CCONJ
afbr-403	128	13	taxes	taxis	NOUN
afbr-403	128	14	,	,	PUNCT
afbr-403	128	15	led	lead	VERB
afbr-403	128	16	to	to	ADP
afbr-403	128	17	the	the	DET
afbr-403	128	18	theory	theory	NOUN
afbr-403	128	19	of	of	ADP
afbr-403	128	20	static	static	ADJ
afbr-403	128	21	exchange	exchange	NOUN
afbr-403	128	22	.	.	PUNCT
afbr-403	129	1	these	these	DET
afbr-403	129	2	theories	theory	NOUN
afbr-403	129	3	proposed	propose	VERB
afbr-403	129	4	by	by	ADP
afbr-403	129	5	modiglian	modiglian	PROPN
afbr-403	129	6	and	and	CCONJ
afbr-403	129	7	miller	miller	PROPN
afbr-403	129	8	(	(	PUNCT
afbr-403	129	9	1958	1958	NUM
afbr-403	129	10	and	and	CCONJ
afbr-403	129	11	1963	1963	NUM
afbr-403	129	12	)	)	PUNCT
afbr-403	129	13	argue	argue	VERB
afbr-403	129	14	that	that	SCONJ
afbr-403	129	15	,	,	PUNCT
afbr-403	129	16	under	under	ADP
afbr-403	129	17	perfect	perfect	ADJ
afbr-403	129	18	capital	capital	NOUN
afbr-403	129	19	market	market	NOUN
afbr-403	129	20	conditions	condition	NOUN
afbr-403	129	21	,	,	PUNCT
afbr-403	129	22	the	the	DET
afbr-403	129	23	value	value	NOUN
afbr-403	129	24	of	of	ADP
afbr-403	129	25	a	a	DET
afbr-403	129	26	company	company	NOUN
afbr-403	129	27	depends	depend	VERB
afbr-403	129	28	on	on	ADP
afbr-403	129	29	its	its	PRON
afbr-403	129	30	profitability	profitability	NOUN
afbr-403	129	31	rather	rather	ADV
afbr-403	129	32	than	than	ADP
afbr-403	129	33	its	its	PRON
afbr-403	129	34	capital	capital	NOUN
afbr-403	129	35	structure	structure	NOUN
afbr-403	129	36	,	,	PUNCT
afbr-403	129	37	ie	ie	X
afbr-403	129	38	value	value	NOUN
afbr-403	129	39	is	be	AUX
afbr-403	129	40	insignificant	insignificant	ADJ
afbr-403	129	41	(	(	PUNCT
afbr-403	129	42	modigliani	modigliani	PROPN
afbr-403	129	43	and	and	CCONJ
afbr-403	129	44	miller	miller	PROPN
afbr-403	129	45	,	,	PUNCT
afbr-403	129	46	1963	1963	NUM
afbr-403	129	47	)	)	PUNCT
afbr-403	129	48	.	.	PUNCT
afbr-403	130	1	a	a	DET
afbr-403	130	2	corporation	corporation	NOUN
afbr-403	130	3	tax	tax	NOUN
afbr-403	130	4	rate	rate	NOUN
afbr-403	130	5	of	of	ADP
afbr-403	130	6	t	t	PROPN
afbr-403	130	7	and	and	CCONJ
afbr-403	130	8	p	p	NOUN
afbr-403	130	9	after	after	SCONJ
afbr-403	130	10	tax	tax	NOUN
afbr-403	130	11	gives	give	VERB
afbr-403	130	12	a	a	DET
afbr-403	130	13	leveraged	leverage	VERB
afbr-403	130	14	enterprise	enterprise	NOUN
afbr-403	130	15	a	a	DET
afbr-403	130	16	market	market	NOUN
afbr-403	130	17	value	value	NOUN
afbr-403	130	18	:	:	PUNCT
afbr-403	130	19	"	"	PUNCT
afbr-403	130	20	vl=	vl=	PROPN
afbr-403	130	21			PROPN
afbr-403	130	22	x	x	SYM
afbr-403	130	23	(	(	PUNCT
afbr-403	130	24	1	1	NUM
afbr-403	130	25	-	-	PUNCT
afbr-403	130	26	tc)/+	tc)/+	NUM
afbr-403	130	27	tcdl	tcdl	NOUN
afbr-403	130	28	55	55	NUM
afbr-403	130	29	where	where	SCONJ
afbr-403	130	30	,	,	PUNCT
afbr-403	130	31			PROPN
afbr-403	130	32	x	x	PRON
afbr-403	130	33	equals	equal	VERB
afbr-403	130	34	expected	expect	VERB
afbr-403	130	35	earnings	earning	NOUN
afbr-403	130	36	before	before	ADP
afbr-403	130	37	interest	interest	NOUN
afbr-403	130	38	and	and	CCONJ
afbr-403	130	39	taxes	taxis	NOUN
afbr-403	130	40	,	,	PUNCT
afbr-403	130	41			NOUN
afbr-403	130	42	x	x	SYM
afbr-403	130	43	(	(	PUNCT
afbr-403	130	44	1tc)/	1tc)/	NUM
afbr-403	130	45			X
afbr-403	130	46	=	=	SYM
afbr-403	130	47	vu	vu	PROPN
afbr-403	130	48	,	,	PUNCT
afbr-403	130	49	value	value	NOUN
afbr-403	130	50	of	of	ADP
afbr-403	130	51	the	the	DET
afbr-403	130	52	firm	firm	PROPN
afbr-403	130	53	ii	ii	PROPN
afbr-403	130	54	all	all	PROPN
afbr-403	130	55	-	-	PUNCT
afbr-403	130	56	equity	equity	NOUN
afbr-403	130	57	-	-	PUNCT
afbr-403	130	58	financed	finance	VERB
afbr-403	130	59	,	,	PUNCT
afbr-403	130	60	and	and	CCONJ
afbr-403	130	61	tcdl	tcdl	NOUN
afbr-403	130	62	is	be	AUX
afbr-403	130	63	the	the	DET
afbr-403	130	64	present	present	ADJ
afbr-403	130	65	value	value	NOUN
afbr-403	130	66	of	of	ADP
afbr-403	130	67	the	the	DET
afbr-403	130	68	interest	interest	NOUN
afbr-403	130	69	tax	tax	NOUN
afbr-403	130	70	-	-	PUNCT
afbr-403	130	71	shield	shield	NOUN
afbr-403	130	72	,	,	PUNCT
afbr-403	130	73	the	the	DET
afbr-403	130	74	tax	tax	NOUN
afbr-403	130	75	advantage	advantage	NOUN
afbr-403	130	76	of	of	ADP
afbr-403	130	77	debt	debt	NOUN
afbr-403	130	78	.	.	PUNCT
afbr-403	130	79	"	"	PUNCT
afbr-403	131	1	empirical	empirical	ADJ
afbr-403	131	2	review	review	NOUN
afbr-403	131	3	akani	akani	NOUN
afbr-403	131	4	and	and	CCONJ
afbr-403	131	5	lucky	lucky	ADJ
afbr-403	131	6	(	(	PUNCT
afbr-403	131	7	2016	2016	NUM
afbr-403	131	8	)	)	PUNCT
afbr-403	131	9	"	"	PUNCT
afbr-403	131	10	examined	examine	VERB
afbr-403	131	11	the	the	DET
afbr-403	131	12	effects	effect	NOUN
afbr-403	131	13	of	of	ADP
afbr-403	131	14	capital	capital	NOUN
afbr-403	131	15	structure	structure	NOUN
afbr-403	131	16	on	on	ADP
afbr-403	131	17	shareholders	shareholder	NOUN
afbr-403	131	18	’	'	PUNCT
afbr-403	131	19	value	value	NOUN
afbr-403	131	20	of	of	ADP
afbr-403	131	21	quoted	quote	VERB
afbr-403	131	22	nigerian	nigerian	ADJ
afbr-403	131	23	commercial	commercial	ADJ
afbr-403	131	24	banks	bank	NOUN
afbr-403	131	25	from	from	ADP
afbr-403	131	26	1981	1981	NUM
afbr-403	131	27	–	–	PUNCT
afbr-403	131	28	2014	2014	NUM
afbr-403	131	29	.	.	PUNCT
afbr-403	132	1	the	the	DET
afbr-403	132	2	model	model	NOUN
afbr-403	132	3	built	build	VERB
afbr-403	132	4	for	for	ADP
afbr-403	132	5	the	the	DET
afbr-403	132	6	study	study	NOUN
afbr-403	132	7	proxy	proxy	NOUN
afbr-403	132	8	return	return	NOUN
afbr-403	132	9	on	on	ADP
afbr-403	132	10	investment	investment	NOUN
afbr-403	132	11	(	(	PUNCT
afbr-403	132	12	roi	roi	NOUN
afbr-403	132	13	)	)	PUNCT
afbr-403	132	14	,	,	PUNCT
afbr-403	132	15	market	market	NOUN
afbr-403	132	16	value	value	NOUN
afbr-403	132	17	(	(	PUNCT
afbr-403	132	18	eqp	eqp	PROPN
afbr-403	132	19	)	)	PUNCT
afbr-403	132	20	and	and	CCONJ
afbr-403	132	21	earnings	earning	NOUN
afbr-403	132	22	per	per	ADP
afbr-403	132	23	share	share	NOUN
afbr-403	132	24	(	(	PUNCT
afbr-403	132	25	eps	eps	PROPN
afbr-403	132	26	)	)	PUNCT
afbr-403	132	27	as	as	ADP
afbr-403	132	28	dependent	dependent	ADJ
afbr-403	132	29	variables	variable	NOUN
afbr-403	132	30	measuring	measure	VERB
afbr-403	132	31	shareholder	shareholder	NOUN
afbr-403	132	32	’s	’s	PART
afbr-403	132	33	value	value	NOUN
afbr-403	132	34	as	as	ADP
afbr-403	132	35	the	the	DET
afbr-403	132	36	function	function	NOUN
afbr-403	132	37	of	of	ADP
afbr-403	132	38	percentage	percentage	NOUN
afbr-403	132	39	in	in	ADP
afbr-403	132	40	debt	debt	NOUN
afbr-403	132	41	capital	capital	NOUN
afbr-403	132	42	to	to	ADP
afbr-403	132	43	total	total	ADJ
afbr-403	132	44	capital	capital	NOUN
afbr-403	132	45	(	(	PUNCT
afbr-403	132	46	dc	dc	PROPN
afbr-403	132	47	/	/	SYM
afbr-403	132	48	tc	tc	NOUN
afbr-403	132	49	)	)	PUNCT
afbr-403	132	50	,	,	PUNCT
afbr-403	132	51	percentage	percentage	NOUN
afbr-403	132	52	of	of	ADP
afbr-403	132	53	equity	equity	NOUN
afbr-403	132	54	capital	capital	NOUN
afbr-403	132	55	to	to	ADP
afbr-403	132	56	total	total	ADJ
afbr-403	132	57	capital	capital	NOUN
afbr-403	132	58	(	(	PUNCT
afbr-403	132	59	eqc	eqc	NOUN
afbr-403	132	60	/	/	SYM
afbr-403	132	61	tc	tc	NOUN
afbr-403	132	62	)	)	PUNCT
afbr-403	132	63	,	,	PUNCT
afbr-403	132	64	percentage	percentage	NOUN
afbr-403	132	65	of	of	ADP
afbr-403	132	66	preference	preference	NOUN
afbr-403	132	67	share	share	NOUN
afbr-403	132	68	capital	capital	NOUN
afbr-403	132	69	to	to	ADP
afbr-403	132	70	total	total	ADJ
afbr-403	132	71	capital	capital	NOUN
afbr-403	132	72	(	(	PUNCT
afbr-403	132	73	psc	psc	PROPN
afbr-403	132	74	/	/	SYM
afbr-403	132	75	tc	tc	PROPN
afbr-403	132	76	as	as	ADP
afbr-403	132	77	independent	independent	ADJ
afbr-403	132	78	variables	variable	NOUN
afbr-403	132	79	)	)	PUNCT
afbr-403	132	80	.	.	PUNCT
afbr-403	133	1	annual	annual	ADJ
afbr-403	133	2	time	time	NOUN
afbr-403	133	3	series	series	PROPN
afbr-403	133	4	data	datum	NOUN
afbr-403	133	5	were	be	AUX
afbr-403	133	6	sourced	source	VERB
afbr-403	133	7	from	from	ADP
afbr-403	133	8	stock	stock	NOUN
afbr-403	133	9	exchange	exchange	NOUN
afbr-403	133	10	factbook	factbook	NOUN
afbr-403	133	11	and	and	CCONJ
afbr-403	133	12	financial	financial	ADJ
afbr-403	133	13	statement	statement	NOUN
afbr-403	133	14	of	of	ADP
afbr-403	133	15	quoted	quote	VERB
afbr-403	133	16	commercial	commercial	ADJ
afbr-403	133	17	banks	bank	NOUN
afbr-403	133	18	.	.	PUNCT
afbr-403	134	1	the	the	DET
afbr-403	134	2	econometrics	econometrics	NOUN
afbr-403	134	3	techniques	technique	NOUN
afbr-403	134	4	of	of	ADP
afbr-403	134	5	ordinary	ordinary	ADJ
afbr-403	134	6	least	least	ADJ
afbr-403	134	7	square	square	ADJ
afbr-403	134	8	(	(	PUNCT
afbr-403	134	9	ols	ol	NOUN
afbr-403	134	10	)	)	PUNCT
afbr-403	134	11	,	,	PUNCT
afbr-403	134	12	augmented	augment	VERB
afbr-403	134	13	dickey	dickey	PROPN
afbr-403	134	14	fuller	full	ADJ
afbr-403	134	15	(	(	PUNCT
afbr-403	134	16	adf	adf	NOUN
afbr-403	134	17	)	)	PUNCT
afbr-403	134	18	,	,	PUNCT
afbr-403	134	19	unit	unit	NOUN
afbr-403	134	20	root	root	PROPN
afbr-403	134	21	test	test	NOUN
afbr-403	134	22	,	,	PUNCT
afbr-403	134	23	johansen	johansen	PROPN
afbr-403	134	24	co	co	PROPN
afbr-403	134	25	-	-	NOUN
afbr-403	134	26	integration	integration	NOUN
afbr-403	134	27	test	test	NOUN
afbr-403	134	28	and	and	CCONJ
afbr-403	134	29	pair	pair	VERB
afbr-403	134	30	wise	wise	ADJ
afbr-403	134	31	granger	granger	PROPN
afbr-403	134	32	causality	causality	PROPN
afbr-403	134	33	test	test	NOUN
afbr-403	134	34	were	be	AUX
afbr-403	134	35	employed	employ	VERB
afbr-403	134	36	in	in	ADP
afbr-403	134	37	the	the	DET
afbr-403	134	38	empirical	empirical	ADJ
afbr-403	134	39	analysis	analysis	NOUN
afbr-403	134	40	.	.	PUNCT
afbr-403	135	1	r2	r2	NOUN
afbr-403	135	2	,	,	PUNCT
afbr-403	135	3	regression	regression	NOUN
afbr-403	135	4	coefficient	coefficient	NOUN
afbr-403	135	5	,	,	PUNCT
afbr-403	135	6	probability	probability	NOUN
afbr-403	135	7	value	value	NOUN
afbr-403	135	8	,	,	PUNCT
afbr-403	135	9	t	t	PROPN
afbr-403	135	10	-	-	PUNCT
afbr-403	135	11	statistics	statistic	NOUN
afbr-403	135	12	and	and	CCONJ
afbr-403	135	13	f	f	X
afbr-403	135	14	-	-	PUNCT
afbr-403	135	15	statistics	statistic	NOUN
afbr-403	135	16	were	be	AUX
afbr-403	135	17	used	use	VERB
afbr-403	135	18	to	to	PART
afbr-403	135	19	determine	determine	VERB
afbr-403	135	20	the	the	DET
afbr-403	135	21	extent	extent	NOUN
afbr-403	135	22	to	to	PART
afbr-403	135	23	which	which	PRON
afbr-403	135	24	the	the	DET
afbr-403	135	25	independent	independent	ADJ
afbr-403	135	26	variables	variable	NOUN
afbr-403	135	27	can	can	AUX
afbr-403	135	28	affect	affect	VERB
afbr-403	135	29	the	the	DET
afbr-403	135	30	dependent	dependent	ADJ
afbr-403	135	31	variable	variable	NOUN
afbr-403	135	32	.	.	PUNCT
afbr-403	136	1	the	the	DET
afbr-403	136	2	co	co	NOUN
afbr-403	136	3	-	-	NOUN
afbr-403	136	4	integration	integration	NOUN
afbr-403	136	5	result	result	NOUN
afbr-403	136	6	shows	show	VERB
afbr-403	136	7	that	that	SCONJ
afbr-403	136	8	long	long	ADV
afbr-403	136	9	run	run	NOUN
afbr-403	136	10	equilibrium	equilibrium	NOUN
afbr-403	136	11	exists	exist	VERB
afbr-403	136	12	among	among	ADP
afbr-403	136	13	the	the	DET
afbr-403	136	14	variables	variable	NOUN
afbr-403	136	15	except	except	SCONJ
afbr-403	136	16	preference	preference	NOUN
afbr-403	136	17	share	share	NOUN
afbr-403	136	18	capital	capital	NOUN
afbr-403	136	19	.	.	PUNCT
afbr-403	137	1	in	in	ADP
afbr-403	137	2	model	model	NOUN
afbr-403	137	3	i	i	PRON
afbr-403	137	4	,	,	PUNCT
afbr-403	137	5	the	the	DET
afbr-403	137	6	study	study	NOUN
afbr-403	137	7	found	find	VERB
afbr-403	137	8	that	that	SCONJ
afbr-403	137	9	all	all	DET
afbr-403	137	10	the	the	DET
afbr-403	137	11	independent	independent	ADJ
afbr-403	137	12	variables	variable	NOUN
afbr-403	137	13	have	have	VERB
afbr-403	137	14	positive	positive	ADJ
afbr-403	137	15	relationship	relationship	NOUN
afbr-403	137	16	with	with	ADP
afbr-403	137	17	the	the	DET
afbr-403	137	18	return	return	NOUN
afbr-403	137	19	on	on	ADP
afbr-403	137	20	investment	investment	NOUN
afbr-403	137	21	.	.	PUNCT
afbr-403	138	1	model	model	PROPN
afbr-403	138	2	ii	ii	PROPN
afbr-403	138	3	found	find	VERB
afbr-403	138	4	that	that	SCONJ
afbr-403	138	5	equity	equity	NOUN
afbr-403	138	6	capital	capital	NOUN
afbr-403	138	7	and	and	CCONJ
afbr-403	138	8	preference	preference	NOUN
afbr-403	138	9	share	share	NOUN
afbr-403	138	10	capital	capital	NOUN
afbr-403	138	11	have	have	VERB
afbr-403	138	12	positive	positive	ADJ
afbr-403	138	13	effects	effect	NOUN
afbr-403	138	14	but	but	CCONJ
afbr-403	138	15	insignificant	insignificant	ADJ
afbr-403	138	16	relationship	relationship	NOUN
afbr-403	138	17	with	with	ADP
afbr-403	138	18	return	return	NOUN
afbr-403	138	19	on	on	ADP
afbr-403	138	20	investment	investment	NOUN
afbr-403	138	21	while	while	SCONJ
afbr-403	138	22	short	short	ADJ
afbr-403	138	23	term	term	NOUN
afbr-403	138	24	borrowings	borrowing	NOUN
afbr-403	138	25	and	and	CCONJ
afbr-403	138	26	preference	preference	NOUN
afbr-403	138	27	share	share	NOUN
afbr-403	138	28	capital	capital	NOUN
afbr-403	138	29	have	have	VERB
afbr-403	138	30	positive	positive	ADJ
afbr-403	138	31	relationship	relationship	NOUN
afbr-403	138	32	and	and	CCONJ
afbr-403	138	33	debt	debt	NOUN
afbr-403	138	34	capital	capital	NOUN
afbr-403	138	35	have	have	VERB
afbr-403	138	36	negative	negative	ADJ
afbr-403	138	37	relationship	relationship	NOUN
afbr-403	138	38	with	with	ADP
afbr-403	138	39	market	market	NOUN
afbr-403	138	40	value	value	NOUN
afbr-403	138	41	of	of	ADP
afbr-403	138	42	quoted	quote	VERB
afbr-403	138	43	commercial	commercial	ADJ
afbr-403	138	44	banks	bank	NOUN
afbr-403	138	45	.	.	PUNCT
afbr-403	139	1	model	model	PROPN
afbr-403	139	2	iii	iii	PROPN
afbr-403	139	3	found	find	VERB
afbr-403	139	4	that	that	SCONJ
afbr-403	139	5	equity	equity	NOUN
afbr-403	139	6	capital	capital	NOUN
afbr-403	139	7	has	have	VERB
afbr-403	139	8	positive	positive	ADJ
afbr-403	139	9	relationship	relationship	NOUN
afbr-403	139	10	while	while	SCONJ
afbr-403	139	11	debt	debt	NOUN
afbr-403	139	12	and	and	CCONJ
afbr-403	139	13	preference	preference	NOUN
afbr-403	139	14	share	share	NOUN
afbr-403	139	15	capital	capital	NOUN
afbr-403	139	16	have	have	VERB
afbr-403	139	17	negative	negative	ADJ
afbr-403	139	18	relationship	relationship	NOUN
afbr-403	139	19	with	with	ADP
afbr-403	139	20	earnings	earning	NOUN
afbr-403	139	21	per	per	ADP
afbr-403	139	22	copyright	copyright	NOUN
afbr-403	139	23	©	©	PROPN
afbr-403	139	24	cc	cc	PROPN
afbr-403	139	25	-	-	PUNCT
afbr-403	139	26	by	by	ADP
afbr-403	139	27	-	-	PUNCT
afbr-403	139	28	nc	nc	PROPN
afbr-403	139	29	2019	2019	NUM
afbr-403	139	30	,	,	PUNCT
afbr-403	139	31	cribfb	cribfb	PROPN
afbr-403	139	32	|	|	ADV
afbr-403	139	33	afbr	afbr	PROPN
afbr-403	139	34	www.cribfb.com/journal/index.php/afbr	www.cribfb.com/journal/index.php/afbr	ADJ
afbr-403	139	35	australian	australian	ADJ
afbr-403	139	36	finance	finance	PROPN
afbr-403	139	37	&	&	CCONJ
afbr-403	139	38	banking	banking	PROPN
afbr-403	139	39	review	review	PROPN
afbr-403	139	40	vol	vol	NOUN
afbr-403	139	41	.	.	PROPN
afbr-403	140	1	3	3	NUM
afbr-403	140	2	,	,	PUNCT
afbr-403	140	3	no	no	INTJ
afbr-403	140	4	.	.	NOUN
afbr-403	140	5	2	2	NUM
afbr-403	140	6	;	;	PUNCT
afbr-403	140	7	2019	2019	NUM
afbr-403	140	8	9	9	NUM
afbr-403	140	9	share	share	NOUN
afbr-403	140	10	.	.	PUNCT
afbr-403	141	1	from	from	ADP
afbr-403	141	2	the	the	DET
afbr-403	141	3	regression	regression	NOUN
afbr-403	141	4	summary	summary	NOUN
afbr-403	141	5	,	,	PUNCT
afbr-403	141	6	model	model	NOUN
afbr-403	141	7	i	i	PRON
afbr-403	141	8	can	can	AUX
afbr-403	141	9	explain	explain	VERB
afbr-403	141	10	79	79	NUM
afbr-403	141	11	%	%	NOUN
afbr-403	141	12	variation	variation	NOUN
afbr-403	141	13	on	on	ADP
afbr-403	141	14	return	return	NOUN
afbr-403	141	15	on	on	ADP
afbr-403	141	16	investment	investment	NOUN
afbr-403	141	17	,	,	PUNCT
afbr-403	141	18	model	model	PROPN
afbr-403	141	19	ii	ii	PROPN
afbr-403	141	20	explains	explain	VERB
afbr-403	141	21	48	48	NUM
afbr-403	141	22	%	%	NOUN
afbr-403	141	23	variation	variation	NOUN
afbr-403	141	24	on	on	ADP
afbr-403	141	25	market	market	NOUN
afbr-403	141	26	values	value	NOUN
afbr-403	141	27	while	while	SCONJ
afbr-403	141	28	model	model	NOUN
afbr-403	141	29	iii	iii	NOUN
afbr-403	141	30	explains	explain	VERB
afbr-403	141	31	only	only	ADV
afbr-403	141	32	11	11	NUM
afbr-403	141	33	%	%	NOUN
afbr-403	141	34	variation	variation	NOUN
afbr-403	141	35	on	on	ADP
afbr-403	141	36	earnings	earning	NOUN
afbr-403	141	37	per	per	ADP
afbr-403	141	38	share	share	NOUN
afbr-403	141	39	.	.	PUNCT
afbr-403	142	1	from	from	ADP
afbr-403	142	2	the	the	DET
afbr-403	142	3	above	above	NOUN
afbr-403	142	4	,	,	PUNCT
afbr-403	142	5	the	the	DET
afbr-403	142	6	study	study	NOUN
afbr-403	142	7	concludes	conclude	VERB
afbr-403	142	8	that	that	SCONJ
afbr-403	142	9	capital	capital	NOUN
afbr-403	142	10	structure	structure	NOUN
afbr-403	142	11	has	have	VERB
afbr-403	142	12	more	more	ADJ
afbr-403	142	13	effect	effect	NOUN
afbr-403	142	14	on	on	ADP
afbr-403	142	15	return	return	NOUN
afbr-403	142	16	on	on	ADP
afbr-403	142	17	investment	investment	NOUN
afbr-403	142	18	and	and	CCONJ
afbr-403	142	19	market	market	NOUN
afbr-403	142	20	values	value	NOUN
afbr-403	142	21	than	than	ADP
afbr-403	142	22	earnings	earning	NOUN
afbr-403	142	23	per	per	ADP
afbr-403	142	24	share	share	NOUN
afbr-403	142	25	.	.	PUNCT
afbr-403	142	26	"	"	PUNCT
afbr-403	143	1	imad	imad	PROPN
afbr-403	143	2	(	(	PUNCT
afbr-403	143	3	2015	2015	NUM
afbr-403	143	4	)	)	PUNCT
afbr-403	143	5	"	"	PUNCT
afbr-403	143	6	examined	examine	VERB
afbr-403	143	7	the	the	DET
afbr-403	143	8	impact	impact	NOUN
afbr-403	143	9	of	of	ADP
afbr-403	143	10	the	the	DET
afbr-403	143	11	leverage	leverage	NOUN
afbr-403	143	12	on	on	ADP
afbr-403	143	13	the	the	DET
afbr-403	143	14	firms	firm	NOUN
afbr-403	143	15	’	'	PUNCT
afbr-403	143	16	value	value	NOUN
afbr-403	143	17	utilizing	utilize	VERB
afbr-403	143	18	unbalanced	unbalanced	ADJ
afbr-403	143	19	pooled	pool	VERB
afbr-403	143	20	ordinary	ordinary	ADJ
afbr-403	143	21	least	least	ADJ
afbr-403	143	22	square	square	ADJ
afbr-403	143	23	(	(	PUNCT
afbr-403	143	24	ols	ol	NOUN
afbr-403	143	25	)	)	PUNCT
afbr-403	143	26	cross	cross	ADJ
afbr-403	143	27	-	-	ADJ
afbr-403	143	28	sectional	sectional	ADJ
afbr-403	143	29	time	time	NOUN
afbr-403	143	30	series	series	PROPN
afbr-403	143	31	panel	panel	PROPN
afbr-403	143	32	data	data	PROPN
afbr-403	143	33	regression	regression	NOUN
afbr-403	143	34	approach	approach	NOUN
afbr-403	143	35	to	to	ADP
afbr-403	143	36	all	all	DET
afbr-403	143	37	listed	list	VERB
afbr-403	143	38	companies	company	NOUN
afbr-403	143	39	in	in	ADP
afbr-403	143	40	amman	amman	PROPN
afbr-403	143	41	stock	stock	PROPN
afbr-403	143	42	exchange	exchange	PROPN
afbr-403	143	43	(	(	PUNCT
afbr-403	143	44	ase	ase	NOUN
afbr-403	143	45	)	)	PUNCT
afbr-403	143	46	during	during	ADP
afbr-403	143	47	the	the	DET
afbr-403	143	48	period	period	NOUN
afbr-403	143	49	2000	2000	NUM
afbr-403	143	50	-	-	SYM
afbr-403	143	51	2013	2013	NUM
afbr-403	143	52	after	after	ADP
afbr-403	143	53	excluding	exclude	VERB
afbr-403	143	54	the	the	DET
afbr-403	143	55	financial	financial	ADJ
afbr-403	143	56	sector	sector	NOUN
afbr-403	143	57	and	and	CCONJ
afbr-403	143	58	services	service	NOUN
afbr-403	143	59	sector	sector	NOUN
afbr-403	143	60	,	,	PUNCT
afbr-403	143	61	due	due	ADP
afbr-403	143	62	to	to	ADP
afbr-403	143	63	their	their	PRON
afbr-403	143	64	own	own	ADJ
afbr-403	143	65	characteristics	characteristic	NOUN
afbr-403	143	66	.	.	PUNCT
afbr-403	144	1	f	f	X
afbr-403	144	2	-	-	PUNCT
afbr-403	144	3	test	test	NOUN
afbr-403	144	4	was	be	AUX
afbr-403	144	5	used	use	VERB
afbr-403	144	6	to	to	PART
afbr-403	144	7	test	test	VERB
afbr-403	144	8	the	the	DET
afbr-403	144	9	hypothesis	hypothesis	NOUN
afbr-403	144	10	that	that	PRON
afbr-403	144	11	the	the	DET
afbr-403	144	12	changes	change	NOUN
afbr-403	144	13	in	in	ADP
afbr-403	144	14	the	the	DET
afbr-403	144	15	firms	firm	NOUN
afbr-403	144	16	’	'	PUNCT
afbr-403	144	17	leverage	leverage	NOUN
afbr-403	144	18	level	level	NOUN
afbr-403	144	19	significantly	significantly	ADV
afbr-403	144	20	explain	explain	VERB
afbr-403	144	21	the	the	DET
afbr-403	144	22	changes	change	NOUN
afbr-403	144	23	in	in	ADP
afbr-403	144	24	the	the	DET
afbr-403	144	25	firms	firm	NOUN
afbr-403	144	26	’	’	PART
afbr-403	144	27	value	value	NOUN
afbr-403	144	28	.	.	PUNCT
afbr-403	145	1	the	the	DET
afbr-403	145	2	results	result	NOUN
afbr-403	145	3	shows	show	VERB
afbr-403	145	4	that	that	SCONJ
afbr-403	145	5	the	the	DET
afbr-403	145	6	firms	firm	NOUN
afbr-403	145	7	’	’	PART
afbr-403	145	8	leverage	leverage	NOUN
afbr-403	145	9	level	level	NOUN
afbr-403	145	10	affect	affect	VERB
afbr-403	145	11	the	the	DET
afbr-403	145	12	firms	firm	NOUN
afbr-403	145	13	’	'	PUNCT
afbr-403	145	14	value	value	NOUN
afbr-403	145	15	for	for	ADP
afbr-403	145	16	the	the	DET
afbr-403	145	17	jordanian	jordanian	ADJ
afbr-403	145	18	listed	list	VERB
afbr-403	145	19	companies	company	NOUN
afbr-403	145	20	included	include	VERB
afbr-403	145	21	in	in	ADP
afbr-403	145	22	the	the	DET
afbr-403	145	23	sample	sample	NOUN
afbr-403	145	24	test	test	NOUN
afbr-403	145	25	,	,	PUNCT
afbr-403	145	26	this	this	DET
afbr-403	145	27	result	result	NOUN
afbr-403	145	28	inconsistent	inconsistent	ADJ
afbr-403	145	29	with	with	ADP
afbr-403	145	30	the	the	DET
afbr-403	145	31	result	result	NOUN
afbr-403	145	32	of	of	ADP
afbr-403	145	33	rajan	rajan	PROPN
afbr-403	145	34	and	and	CCONJ
afbr-403	145	35	zingales	zingales	PROPN
afbr-403	145	36	(	(	PUNCT
afbr-403	145	37	1995	1995	NUM
afbr-403	145	38	)	)	PUNCT
afbr-403	145	39	who	who	PRON
afbr-403	145	40	find	find	VERB
afbr-403	145	41	inverse	inverse	NOUN
afbr-403	145	42	association	association	NOUN
afbr-403	145	43	between	between	ADP
afbr-403	145	44	debt	debt	NOUN
afbr-403	145	45	and	and	CCONJ
afbr-403	145	46	performance	performance	NOUN
afbr-403	145	47	.	.	PUNCT
afbr-403	145	48	"	"	PUNCT
afbr-403	146	1	taiwo	taiwo	PROPN
afbr-403	146	2	adewale	adewale	PROPN
afbr-403	146	3	muritala	muritala	PROPN
afbr-403	146	4	(	(	PUNCT
afbr-403	146	5	2015	2015	NUM
afbr-403	146	6	)	)	PUNCT
afbr-403	146	7	"	"	PUNCT
afbr-403	146	8	examined	examine	VERB
afbr-403	146	9	the	the	DET
afbr-403	146	10	optimum	optimum	ADJ
afbr-403	146	11	level	level	NOUN
afbr-403	146	12	of	of	ADP
afbr-403	146	13	capital	capital	NOUN
afbr-403	146	14	structure	structure	NOUN
afbr-403	146	15	through	through	ADP
afbr-403	146	16	which	which	PRON
afbr-403	146	17	a	a	DET
afbr-403	146	18	firm	firm	NOUN
afbr-403	146	19	can	can	AUX
afbr-403	146	20	increase	increase	VERB
afbr-403	146	21	its	its	PRON
afbr-403	146	22	financial	financial	ADJ
afbr-403	146	23	performance	performance	NOUN
afbr-403	146	24	using	use	VERB
afbr-403	146	25	annual	annual	ADJ
afbr-403	146	26	data	datum	NOUN
afbr-403	146	27	of	of	ADP
afbr-403	146	28	ten	ten	NUM
afbr-403	146	29	firms	firm	NOUN
afbr-403	146	30	spanning	span	VERB
afbr-403	146	31	a	a	DET
afbr-403	146	32	five	five	NUM
afbr-403	146	33	-	-	PUNCT
afbr-403	146	34	year	year	NOUN
afbr-403	146	35	period	period	NOUN
afbr-403	146	36	.	.	PUNCT
afbr-403	147	1	the	the	DET
afbr-403	147	2	results	result	NOUN
afbr-403	147	3	from	from	ADP
afbr-403	147	4	i	i	PRON
afbr-403	147	5	m	m	PROPN
afbr-403	147	6	,	,	PUNCT
afbr-403	147	7	pesaran	pesaran	PROPN
afbr-403	147	8	&	&	CCONJ
afbr-403	147	9	shine	shine	PROPN
afbr-403	147	10	unit	unit	NOUN
afbr-403	147	11	root	root	PROPN
afbr-403	147	12	test	test	NOUN
afbr-403	147	13	show	show	VERB
afbr-403	147	14	that	that	SCONJ
afbr-403	147	15	all	all	DET
afbr-403	147	16	the	the	DET
afbr-403	147	17	variables	variable	NOUN
afbr-403	147	18	were	be	AUX
afbr-403	147	19	non	non	ADJ
afbr-403	147	20	-	-	ADJ
afbr-403	147	21	stationary	stationary	ADJ
afbr-403	147	22	at	at	ADP
afbr-403	147	23	level	level	NOUN
afbr-403	147	24	.	.	PUNCT
afbr-403	148	1	the	the	DET
afbr-403	148	2	study	study	NOUN
afbr-403	148	3	hypothesized	hypothesize	VERB
afbr-403	148	4	negative	negative	ADJ
afbr-403	148	5	relationship	relationship	NOUN
afbr-403	148	6	between	between	ADP
afbr-403	148	7	capital	capital	NOUN
afbr-403	148	8	structure	structure	NOUN
afbr-403	148	9	and	and	CCONJ
afbr-403	148	10	operational	operational	ADJ
afbr-403	148	11	firm	firm	ADJ
afbr-403	148	12	performance	performance	NOUN
afbr-403	148	13	.	.	PUNCT
afbr-403	149	1	however	however	ADV
afbr-403	149	2	,	,	PUNCT
afbr-403	149	3	the	the	DET
afbr-403	149	4	results	result	NOUN
afbr-403	149	5	from	from	ADP
afbr-403	149	6	panel	panel	NOUN
afbr-403	149	7	least	least	ADJ
afbr-403	149	8	square	square	ADJ
afbr-403	149	9	(	(	PUNCT
afbr-403	149	10	pls	pls	INTJ
afbr-403	149	11	)	)	PUNCT
afbr-403	149	12	confirm	confirm	VERB
afbr-403	149	13	that	that	SCONJ
afbr-403	149	14	asset	asset	NOUN
afbr-403	149	15	turnover	turnover	NOUN
afbr-403	149	16	,	,	PUNCT
afbr-403	149	17	size	size	NOUN
afbr-403	149	18	,	,	PUNCT
afbr-403	149	19	firm	firm	NOUN
afbr-403	149	20	’s	’s	PART
afbr-403	149	21	age	age	NOUN
afbr-403	149	22	and	and	CCONJ
afbr-403	149	23	firm	firm	NOUN
afbr-403	149	24	’s	’s	PART
afbr-403	149	25	asset	asset	NOUN
afbr-403	149	26	tangibility	tangibility	NOUN
afbr-403	149	27	are	be	AUX
afbr-403	149	28	positively	positively	ADV
afbr-403	149	29	related	relate	VERB
afbr-403	149	30	to	to	ADP
afbr-403	149	31	firm	firm	NOUN
afbr-403	149	32	’s	’s	PART
afbr-403	149	33	performance	performance	NOUN
afbr-403	149	34	.	.	PUNCT
afbr-403	150	1	findings	finding	NOUN
afbr-403	150	2	provide	provide	VERB
afbr-403	150	3	evidence	evidence	NOUN
afbr-403	150	4	of	of	ADP
afbr-403	150	5	a	a	DET
afbr-403	150	6	negative	negative	ADJ
afbr-403	150	7	and	and	CCONJ
afbr-403	150	8	significant	significant	ADJ
afbr-403	150	9	relationship	relationship	NOUN
afbr-403	150	10	between	between	ADP
afbr-403	150	11	asset	asset	NOUN
afbr-403	150	12	tangibility	tangibility	NOUN
afbr-403	150	13	and	and	CCONJ
afbr-403	150	14	roa	roa	NOUN
afbr-403	150	15	as	as	ADP
afbr-403	150	16	a	a	DET
afbr-403	150	17	measure	measure	NOUN
afbr-403	150	18	of	of	ADP
afbr-403	150	19	performance	performance	NOUN
afbr-403	150	20	in	in	ADP
afbr-403	150	21	the	the	DET
afbr-403	150	22	model	model	NOUN
afbr-403	150	23	.	.	PUNCT
afbr-403	151	1	the	the	DET
afbr-403	151	2	implication	implication	NOUN
afbr-403	151	3	of	of	ADP
afbr-403	151	4	this	this	PRON
afbr-403	151	5	is	be	AUX
afbr-403	151	6	that	that	SCONJ
afbr-403	151	7	the	the	DET
afbr-403	151	8	sampled	sample	VERB
afbr-403	151	9	firms	firm	NOUN
afbr-403	151	10	were	be	AUX
afbr-403	151	11	not	not	PART
afbr-403	151	12	able	able	ADJ
afbr-403	151	13	to	to	PART
afbr-403	151	14	utilize	utilize	VERB
afbr-403	151	15	the	the	DET
afbr-403	151	16	fixed	fix	VERB
afbr-403	151	17	asset	asset	NOUN
afbr-403	151	18	composition	composition	NOUN
afbr-403	151	19	of	of	ADP
afbr-403	151	20	their	their	PRON
afbr-403	151	21	total	total	ADJ
afbr-403	151	22	assets	asset	NOUN
afbr-403	151	23	judiciously	judiciously	ADV
afbr-403	151	24	to	to	PART
afbr-403	151	25	impact	impact	VERB
afbr-403	151	26	positively	positively	ADV
afbr-403	151	27	on	on	ADP
afbr-403	151	28	their	their	PRON
afbr-403	151	29	firms	firm	NOUN
afbr-403	151	30	’	’	PART
afbr-403	151	31	performance	performance	NOUN
afbr-403	151	32	.	.	PUNCT
afbr-403	152	1	hence	hence	ADV
afbr-403	152	2	,	,	PUNCT
afbr-403	152	3	this	this	DET
afbr-403	152	4	study	study	NOUN
afbr-403	152	5	recommends	recommend	VERB
afbr-403	152	6	that	that	SCONJ
afbr-403	152	7	asset	asset	NOUN
afbr-403	152	8	tangibility	tangibility	NOUN
afbr-403	152	9	should	should	AUX
afbr-403	152	10	be	be	AUX
afbr-403	152	11	a	a	DET
afbr-403	152	12	driven	drive	VERB
afbr-403	152	13	factor	factor	NOUN
afbr-403	152	14	to	to	ADP
afbr-403	152	15	capital	capital	NOUN
afbr-403	152	16	structure	structure	NOUN
afbr-403	152	17	because	because	SCONJ
afbr-403	152	18	firms	firm	NOUN
afbr-403	152	19	with	with	ADP
afbr-403	152	20	more	more	ADJ
afbr-403	152	21	tangible	tangible	ADJ
afbr-403	152	22	assets	asset	NOUN
afbr-403	152	23	are	be	AUX
afbr-403	152	24	less	less	ADV
afbr-403	152	25	likely	likely	ADJ
afbr-403	152	26	to	to	PART
afbr-403	152	27	be	be	AUX
afbr-403	152	28	financially	financially	ADV
afbr-403	152	29	constrained	constrain	VERB
afbr-403	152	30	.	.	PUNCT
afbr-403	152	31	"	"	PUNCT
afbr-403	153	1	saeed	saeed	PROPN
afbr-403	153	2	&	&	CCONJ
afbr-403	153	3	badar	badar	PROPN
afbr-403	153	4	(	(	PUNCT
afbr-403	153	5	2013	2013	NUM
afbr-403	153	6	)	)	PUNCT
afbr-403	153	7	"	"	PUNCT
afbr-403	153	8	examined	examine	VERB
afbr-403	153	9	the	the	DET
afbr-403	153	10	impact	impact	NOUN
afbr-403	153	11	of	of	ADP
afbr-403	153	12	capital	capital	NOUN
afbr-403	153	13	structure	structure	NOUN
afbr-403	153	14	on	on	ADP
afbr-403	153	15	firm	firm	ADJ
afbr-403	153	16	performance	performance	NOUN
afbr-403	153	17	by	by	ADP
afbr-403	153	18	analyzing	analyze	VERB
afbr-403	153	19	the	the	DET
afbr-403	153	20	roa	roa	NOUN
afbr-403	153	21	and	and	CCONJ
afbr-403	153	22	atr	atr	NOUN
afbr-403	153	23	against	against	ADP
afbr-403	153	24	different	different	ADJ
afbr-403	153	25	levels	level	NOUN
afbr-403	153	26	of	of	ADP
afbr-403	153	27	debt	debt	NOUN
afbr-403	153	28	i.e.	i.e.	X
afbr-403	153	29	std	std	PROPN
afbr-403	153	30	,	,	PUNCT
afbr-403	153	31	ltd	ltd	ADJ
afbr-403	153	32	and	and	CCONJ
afbr-403	153	33	td	td	NOUN
afbr-403	153	34	.	.	PUNCT
afbr-403	154	1	the	the	DET
afbr-403	154	2	results	result	NOUN
afbr-403	154	3	came	come	VERB
afbr-403	154	4	were	be	AUX
afbr-403	154	5	different	different	ADJ
afbr-403	154	6	from	from	ADP
afbr-403	154	7	most	most	ADJ
afbr-403	154	8	of	of	ADP
afbr-403	154	9	the	the	DET
afbr-403	154	10	previous	previous	ADJ
afbr-403	154	11	studies	study	NOUN
afbr-403	154	12	.	.	PUNCT
afbr-403	155	1	according	accord	VERB
afbr-403	155	2	to	to	ADP
afbr-403	155	3	the	the	DET
afbr-403	155	4	results	result	NOUN
afbr-403	155	5	ltd	ltd	PROPN
afbr-403	155	6	has	have	VERB
afbr-403	155	7	a	a	DET
afbr-403	155	8	significantly	significantly	ADV
afbr-403	155	9	positive	positive	ADJ
afbr-403	155	10	impact	impact	NOUN
afbr-403	155	11	on	on	ADP
afbr-403	155	12	the	the	DET
afbr-403	155	13	roa	roa	NOUN
afbr-403	155	14	.	.	PUNCT
afbr-403	155	15	"	"	PUNCT
afbr-403	156	1	the	the	DET
afbr-403	156	2	results	result	NOUN
afbr-403	156	3	were	be	AUX
afbr-403	156	4	compatible	compatible	ADJ
afbr-403	156	5	with	with	ADP
afbr-403	156	6	aghabeygzadeh	aghabeygzadeh	PROPN
afbr-403	156	7	&	&	CCONJ
afbr-403	156	8	akbarpour	akbarpour	PROPN
afbr-403	156	9	(	(	PUNCT
afbr-403	156	10	2011	2011	NUM
afbr-403	156	11	)	)	PUNCT
afbr-403	156	12	"	"	PUNCT
afbr-403	156	13	as	as	SCONJ
afbr-403	156	14	they	they	PRON
afbr-403	156	15	found	find	VERB
afbr-403	156	16	a	a	DET
afbr-403	156	17	positive	positive	ADJ
afbr-403	156	18	impact	impact	NOUN
afbr-403	156	19	as	as	ADV
afbr-403	156	20	well	well	ADV
afbr-403	156	21	.	.	PUNCT
afbr-403	157	1	on	on	ADP
afbr-403	157	2	the	the	DET
afbr-403	157	3	other	other	ADJ
afbr-403	157	4	hand	hand	NOUN
afbr-403	157	5	td	td	NOUN
afbr-403	157	6	and	and	CCONJ
afbr-403	157	7	std	std	NOUN
afbr-403	157	8	were	be	AUX
afbr-403	157	9	found	find	VERB
afbr-403	157	10	to	to	PART
afbr-403	157	11	have	have	VERB
afbr-403	157	12	a	a	DET
afbr-403	157	13	negative	negative	ADJ
afbr-403	157	14	but	but	CCONJ
afbr-403	157	15	significant	significant	ADJ
afbr-403	157	16	effect	effect	NOUN
afbr-403	157	17	on	on	ADP
afbr-403	157	18	the	the	DET
afbr-403	157	19	roa	roa	NOUN
afbr-403	157	20	.	.	PUNCT
afbr-403	158	1	the	the	DET
afbr-403	158	2	reason	reason	NOUN
afbr-403	158	3	mentioned	mention	VERB
afbr-403	158	4	by	by	ADP
afbr-403	158	5	the	the	DET
afbr-403	158	6	author	author	NOUN
afbr-403	158	7	is	be	AUX
afbr-403	158	8	that	that	SCONJ
afbr-403	158	9	because	because	SCONJ
afbr-403	158	10	the	the	DET
afbr-403	158	11	ltd	ltd	PROPN
afbr-403	158	12	is	be	AUX
afbr-403	158	13	mostly	mostly	ADV
afbr-403	158	14	given	give	VERB
afbr-403	158	15	by	by	ADP
afbr-403	158	16	banks	bank	NOUN
afbr-403	158	17	and	and	CCONJ
afbr-403	158	18	due	due	ADP
afbr-403	158	19	to	to	ADP
afbr-403	158	20	competition	competition	NOUN
afbr-403	158	21	among	among	ADP
afbr-403	158	22	the	the	DET
afbr-403	158	23	banks	bank	NOUN
afbr-403	158	24	the	the	DET
afbr-403	158	25	ltds	ltds	ADJ
afbr-403	158	26	are	be	AUX
afbr-403	158	27	usually	usually	ADV
afbr-403	158	28	taken	take	VERB
afbr-403	158	29	with	with	ADP
afbr-403	158	30	lower	low	ADJ
afbr-403	158	31	required	require	VERB
afbr-403	158	32	rate	rate	NOUN
afbr-403	158	33	of	of	ADP
afbr-403	158	34	returns	return	NOUN
afbr-403	158	35	and	and	CCONJ
afbr-403	158	36	also	also	ADV
afbr-403	158	37	efficiently	efficiently	ADV
afbr-403	158	38	use	use	NOUN
afbr-403	158	39	of	of	ADP
afbr-403	158	40	the	the	DET
afbr-403	158	41	funds	fund	NOUN
afbr-403	158	42	.	.	PUNCT
afbr-403	158	43	"	"	PUNCT
afbr-403	159	1	"	"	PUNCT
afbr-403	159	2	std	std	NOUN
afbr-403	159	3	has	have	VERB
afbr-403	159	4	relatively	relatively	ADV
afbr-403	159	5	higher	high	ADJ
afbr-403	159	6	required	require	VERB
afbr-403	159	7	rate	rate	NOUN
afbr-403	159	8	of	of	ADP
afbr-403	159	9	return	return	NOUN
afbr-403	159	10	and	and	CCONJ
afbr-403	159	11	because	because	SCONJ
afbr-403	159	12	in	in	ADP
afbr-403	159	13	pakistan	pakistan	PROPN
afbr-403	159	14	the	the	DET
afbr-403	159	15	money	money	NOUN
afbr-403	159	16	market	market	NOUN
afbr-403	159	17	is	be	AUX
afbr-403	159	18	not	not	PART
afbr-403	159	19	well	well	ADV
afbr-403	159	20	developed	developed	ADJ
afbr-403	159	21	and	and	CCONJ
afbr-403	159	22	that	that	PRON
afbr-403	159	23	’s	’	VERB
afbr-403	159	24	why	why	SCONJ
afbr-403	159	25	affect	affect	VERB
afbr-403	159	26	negatively	negatively	ADV
afbr-403	159	27	the	the	DET
afbr-403	159	28	roa	roa	NOUN
afbr-403	159	29	"	"	PUNCT
afbr-403	159	30	(	(	PUNCT
afbr-403	159	31	saeed	saeed	PROPN
afbr-403	159	32	&	&	CCONJ
afbr-403	159	33	badar	badar	PROPN
afbr-403	159	34	,	,	PUNCT
afbr-403	159	35	2013	2013	NUM
afbr-403	159	36	)	)	PUNCT
afbr-403	159	37	.	.	PUNCT
afbr-403	160	1	patel	patel	PROPN
afbr-403	160	2	&	&	CCONJ
afbr-403	160	3	bhatt	bhatt	PROPN
afbr-403	160	4	(	(	PUNCT
afbr-403	160	5	2013	2013	NUM
afbr-403	160	6	)	)	PUNCT
afbr-403	160	7	"	"	PUNCT
afbr-403	160	8	discussed	discuss	VERB
afbr-403	160	9	the	the	DET
afbr-403	160	10	impact	impact	NOUN
afbr-403	160	11	of	of	ADP
afbr-403	160	12	the	the	DET
afbr-403	160	13	capital	capital	NOUN
afbr-403	160	14	structure	structure	NOUN
afbr-403	160	15	on	on	ADP
afbr-403	160	16	the	the	DET
afbr-403	160	17	performance	performance	NOUN
afbr-403	160	18	of	of	ADP
afbr-403	160	19	the	the	DET
afbr-403	160	20	firm	firm	NOUN
afbr-403	160	21	for	for	ADP
afbr-403	160	22	the	the	DET
afbr-403	160	23	nonfinancial	nonfinancial	ADJ
afbr-403	160	24	firms	firm	NOUN
afbr-403	160	25	listed	list	VERB
afbr-403	160	26	on	on	ADP
afbr-403	160	27	the	the	DET
afbr-403	160	28	national	national	PROPN
afbr-403	160	29	stock	stock	PROPN
afbr-403	160	30	exchange	exchange	PROPN
afbr-403	160	31	by	by	ADP
afbr-403	160	32	studying	study	VERB
afbr-403	160	33	any	any	DET
afbr-403	160	34	alteration	alteration	NOUN
afbr-403	160	35	in	in	ADP
afbr-403	160	36	firm	firm	NOUN
afbr-403	160	37	’s	’s	PART
afbr-403	160	38	net	net	ADJ
afbr-403	160	39	operating	operating	NOUN
afbr-403	160	40	profitability	profitability	NOUN
afbr-403	160	41	(	(	PUNCT
afbr-403	160	42	nop	nop	PROPN
afbr-403	160	43	)	)	PUNCT
afbr-403	160	44	due	due	ADP
afbr-403	160	45	to	to	ADP
afbr-403	160	46	change	change	VERB
afbr-403	160	47	in	in	ADP
afbr-403	160	48	capital	capital	NOUN
afbr-403	160	49	structure	structure	NOUN
afbr-403	160	50	variables	variable	NOUN
afbr-403	160	51	.	.	PUNCT
afbr-403	161	1	the	the	DET
afbr-403	161	2	author	author	NOUN
afbr-403	161	3	ended	end	VERB
afbr-403	161	4	up	up	ADP
afbr-403	161	5	with	with	ADP
afbr-403	161	6	a	a	DET
afbr-403	161	7	conclusion	conclusion	NOUN
afbr-403	161	8	that	that	SCONJ
afbr-403	161	9	total	total	ADJ
afbr-403	161	10	debt	debt	NOUN
afbr-403	161	11	has	have	AUX
afbr-403	161	12	a	a	DET
afbr-403	161	13	negative	negative	ADJ
afbr-403	161	14	impact	impact	NOUN
afbr-403	161	15	on	on	ADP
afbr-403	161	16	the	the	DET
afbr-403	161	17	firm	firm	NOUN
afbr-403	161	18	’s	’s	PART
afbr-403	161	19	profitability	profitability	NOUN
afbr-403	161	20	.	.	PUNCT
afbr-403	161	21	"	"	PUNCT
afbr-403	162	1	"	"	PUNCT
afbr-403	162	2	ltd	ltd	PROPN
afbr-403	162	3	was	be	AUX
afbr-403	162	4	also	also	ADV
afbr-403	162	5	found	find	VERB
afbr-403	162	6	to	to	PART
afbr-403	162	7	have	have	VERB
afbr-403	162	8	an	an	DET
afbr-403	162	9	indirect	indirect	ADJ
afbr-403	162	10	impact	impact	NOUN
afbr-403	162	11	on	on	ADP
afbr-403	162	12	the	the	DET
afbr-403	162	13	firm	firm	NOUN
afbr-403	162	14	’s	’s	PART
afbr-403	162	15	net	net	ADJ
afbr-403	162	16	profitability	profitability	NOUN
afbr-403	162	17	,	,	PUNCT
afbr-403	162	18	this	this	PRON
afbr-403	162	19	was	be	AUX
afbr-403	162	20	attributed	attribute	VERB
afbr-403	162	21	by	by	ADP
afbr-403	162	22	the	the	DET
afbr-403	162	23	author	author	NOUN
afbr-403	162	24	that	that	SCONJ
afbr-403	162	25	as	as	SCONJ
afbr-403	162	26	ltd	ltd	PROPN
afbr-403	162	27	increases	increase	VERB
afbr-403	162	28	the	the	DET
afbr-403	162	29	management	management	NOUN
afbr-403	162	30	started	start	VERB
afbr-403	162	31	fearing	fear	VERB
afbr-403	162	32	about	about	ADP
afbr-403	162	33	their	their	PRON
afbr-403	162	34	jobs	job	NOUN
afbr-403	162	35	and	and	CCONJ
afbr-403	162	36	thus	thus	ADV
afbr-403	162	37	lead	lead	VERB
afbr-403	162	38	to	to	ADP
afbr-403	162	39	underinvestment	underinvestment	NOUN
afbr-403	162	40	,	,	PUNCT
afbr-403	162	41	plus	plus	CCONJ
afbr-403	162	42	the	the	DET
afbr-403	162	43	high	high	ADJ
afbr-403	162	44	interest	interest	NOUN
afbr-403	162	45	rates	rate	NOUN
afbr-403	162	46	incurred	incur	VERB
afbr-403	162	47	on	on	ADP
afbr-403	162	48	ltd	ltd	PROPN
afbr-403	162	49	increases	increase	VERB
afbr-403	162	50	the	the	DET
afbr-403	162	51	fixed	fix	VERB
afbr-403	162	52	cost	cost	NOUN
afbr-403	162	53	and	and	CCONJ
afbr-403	162	54	ultimately	ultimately	ADV
afbr-403	162	55	financial	financial	ADJ
afbr-403	162	56	leverage	leverage	NOUN
afbr-403	162	57	and	and	CCONJ
afbr-403	162	58	thus	thus	ADV
afbr-403	162	59	decreases	decrease	VERB
afbr-403	162	60	free	free	ADJ
afbr-403	162	61	cash	cash	NOUN
afbr-403	162	62	flows	flow	NOUN
afbr-403	162	63	and	and	CCONJ
afbr-403	162	64	eventually	eventually	ADV
afbr-403	162	65	profitability	profitability	NOUN
afbr-403	162	66	"	"	PUNCT
afbr-403	162	67	(	(	PUNCT
afbr-403	162	68	mesquita	mesquita	PROPN
afbr-403	162	69	&	&	CCONJ
afbr-403	162	70	lara	lara	PROPN
afbr-403	162	71	,	,	PUNCT
afbr-403	162	72	2003	2003	NUM
afbr-403	162	73	)	)	PUNCT
afbr-403	162	74	.	.	PUNCT
afbr-403	163	1	"	"	PUNCT
afbr-403	163	2	equity	equity	NOUN
afbr-403	163	3	was	be	AUX
afbr-403	163	4	found	find	VERB
afbr-403	163	5	to	to	PART
afbr-403	163	6	have	have	VERB
afbr-403	163	7	a	a	DET
afbr-403	163	8	positive	positive	ADJ
afbr-403	163	9	impact	impact	NOUN
afbr-403	163	10	on	on	ADP
afbr-403	163	11	the	the	DET
afbr-403	163	12	net	net	ADJ
afbr-403	163	13	profits	profit	NOUN
afbr-403	163	14	and	and	CCONJ
afbr-403	163	15	the	the	DET
afbr-403	163	16	author	author	NOUN
afbr-403	163	17	has	have	AUX
afbr-403	163	18	suggested	suggest	VERB
afbr-403	163	19	for	for	SCONJ
afbr-403	163	20	the	the	DET
afbr-403	163	21	firms	firm	NOUN
afbr-403	163	22	to	to	PART
afbr-403	163	23	go	go	VERB
afbr-403	163	24	for	for	ADP
afbr-403	163	25	equity	equity	NOUN
afbr-403	163	26	financing	financing	NOUN
afbr-403	163	27	.	.	PUNCT
afbr-403	164	1	size	size	NOUN
afbr-403	164	2	of	of	ADP
afbr-403	164	3	the	the	DET
afbr-403	164	4	firm	firm	NOUN
afbr-403	164	5	has	have	VERB
afbr-403	164	6	also	also	ADV
afbr-403	164	7	a	a	DET
afbr-403	164	8	direct	direct	ADJ
afbr-403	164	9	impact	impact	NOUN
afbr-403	164	10	of	of	ADP
afbr-403	164	11	net	net	ADJ
afbr-403	164	12	profitability	profitability	NOUN
afbr-403	164	13	of	of	ADP
afbr-403	164	14	the	the	DET
afbr-403	164	15	firms	firm	NOUN
afbr-403	164	16	"	"	PUNCT
afbr-403	164	17	(	(	PUNCT
afbr-403	164	18	raheman	raheman	NOUN
afbr-403	164	19	,	,	PUNCT
afbr-403	164	20	zulfiqar	zulfiqar	PROPN
afbr-403	164	21	,	,	PUNCT
afbr-403	164	22	&	&	CCONJ
afbr-403	164	23	mustafa	mustafa	PROPN
afbr-403	164	24	,	,	PUNCT
afbr-403	164	25	2007	2007	NUM
afbr-403	164	26	)	)	PUNCT
afbr-403	164	27	.	.	PUNCT
afbr-403	165	1	saeed	saeed	PROPN
afbr-403	165	2	,	,	PUNCT
afbr-403	165	3	gull	gull	NOUN
afbr-403	165	4	,	,	PUNCT
afbr-403	165	5	&	&	CCONJ
afbr-403	165	6	rasheed	rasheed	PROPN
afbr-403	165	7	(	(	PUNCT
afbr-403	165	8	2013	2013	NUM
afbr-403	165	9	)	)	PUNCT
afbr-403	165	10	"	"	PUNCT
afbr-403	165	11	gave	give	VERB
afbr-403	165	12	empirical	empirical	ADJ
afbr-403	165	13	results	result	NOUN
afbr-403	165	14	for	for	ADP
afbr-403	165	15	the	the	DET
afbr-403	165	16	impact	impact	NOUN
afbr-403	165	17	of	of	ADP
afbr-403	165	18	capital	capital	NOUN
afbr-403	165	19	structure	structure	NOUN
afbr-403	165	20	on	on	ADP
afbr-403	165	21	firm	firm	ADJ
afbr-403	165	22	performance	performance	NOUN
afbr-403	165	23	by	by	ADP
afbr-403	165	24	observing	observe	VERB
afbr-403	165	25	firm	firm	ADJ
afbr-403	165	26	performance	performance	NOUN
afbr-403	165	27	against	against	ADP
afbr-403	165	28	the	the	DET
afbr-403	165	29	capital	capital	NOUN
afbr-403	165	30	structure	structure	NOUN
afbr-403	165	31	decisions	decision	NOUN
afbr-403	165	32	.	.	PUNCT
afbr-403	166	1	based	base	VERB
afbr-403	166	2	on	on	ADP
afbr-403	166	3	the	the	DET
afbr-403	166	4	results	result	NOUN
afbr-403	166	5	of	of	ADP
afbr-403	166	6	the	the	DET
afbr-403	166	7	study	study	NOUN
afbr-403	166	8	stdta	stdta	NOUN
afbr-403	166	9	has	have	VERB
afbr-403	166	10	a	a	DET
afbr-403	166	11	positive	positive	ADJ
afbr-403	166	12	and	and	CCONJ
afbr-403	166	13	significant	significant	ADJ
afbr-403	166	14	impact	impact	NOUN
afbr-403	166	15	on	on	ADP
afbr-403	166	16	roa	roa	PROPN
afbr-403	166	17	,	,	PUNCT
afbr-403	166	18	roe	roe	PROPN
afbr-403	166	19	and	and	CCONJ
afbr-403	166	20	eps	eps	PROPN
afbr-403	166	21	while	while	SCONJ
afbr-403	166	22	ltdta	ltdta	PROPN
afbr-403	166	23	was	be	AUX
afbr-403	166	24	found	find	VERB
afbr-403	166	25	to	to	PART
afbr-403	166	26	be	be	AUX
afbr-403	166	27	negatively	negatively	ADV
afbr-403	166	28	related	relate	VERB
afbr-403	166	29	to	to	ADP
afbr-403	166	30	all	all	DET
afbr-403	166	31	the	the	DET
afbr-403	166	32	performance	performance	NOUN
afbr-403	166	33	variables	variable	NOUN
afbr-403	166	34	.	.	PUNCT
afbr-403	167	1	on	on	ADP
afbr-403	167	2	the	the	DET
afbr-403	167	3	other	other	ADJ
afbr-403	167	4	hand	hand	NOUN
afbr-403	167	5	td	td	NOUN
afbr-403	167	6	was	be	AUX
afbr-403	167	7	proved	prove	VERB
afbr-403	167	8	to	to	PART
afbr-403	167	9	have	have	VERB
afbr-403	167	10	an	an	DET
afbr-403	167	11	optimistic	optimistic	ADJ
afbr-403	167	12	impact	impact	NOUN
afbr-403	167	13	of	of	ADP
afbr-403	167	14	roa	roa	PROPN
afbr-403	167	15	,	,	PUNCT
afbr-403	167	16	roe	roe	PROPN
afbr-403	167	17	and	and	CCONJ
afbr-403	167	18	eps	eps	PROPN
afbr-403	167	19	.	.	PROPN
afbr-403	167	20	size	size	NOUN
afbr-403	167	21	of	of	ADP
afbr-403	167	22	the	the	DET
afbr-403	167	23	firm	firm	NOUN
afbr-403	167	24	also	also	ADV
afbr-403	167	25	affected	affect	VERB
afbr-403	167	26	the	the	DET
afbr-403	167	27	performance	performance	NOUN
afbr-403	167	28	positively	positively	ADV
afbr-403	167	29	and	and	CCONJ
afbr-403	167	30	significantly	significantly	ADV
afbr-403	167	31	as	as	ADV
afbr-403	167	32	well	well	ADV
afbr-403	167	33	.	.	PUNCT
afbr-403	167	34	"	"	PUNCT
afbr-403	168	1	"	"	PUNCT
afbr-403	168	2	ag	ag	PROPN
afbr-403	168	3	(	(	PUNCT
afbr-403	168	4	assets	asset	NOUN
afbr-403	168	5	growth	growth	NOUN
afbr-403	168	6	)	)	PUNCT
afbr-403	168	7	affected	affect	VERB
afbr-403	168	8	roa	roa	NOUN
afbr-403	168	9	and	and	CCONJ
afbr-403	168	10	roe	roe	NOUN
afbr-403	168	11	insignificantly	insignificantly	ADV
afbr-403	168	12	negative	negative	ADJ
afbr-403	168	13	but	but	CCONJ
afbr-403	168	14	for	for	ADP
afbr-403	168	15	eps	eps	PROPN
afbr-403	168	16	the	the	DET
afbr-403	168	17	relation	relation	NOUN
afbr-403	168	18	was	be	AUX
afbr-403	168	19	significantly	significantly	ADV
afbr-403	168	20	negative	negative	ADJ
afbr-403	168	21	.	.	PUNCT
afbr-403	169	1	the	the	DET
afbr-403	169	2	reason	reason	NOUN
afbr-403	169	3	for	for	ADP
afbr-403	169	4	positive	positive	ADJ
afbr-403	169	5	impact	impact	NOUN
afbr-403	169	6	of	of	ADP
afbr-403	169	7	stdta	stdta	NOUN
afbr-403	169	8	was	be	AUX
afbr-403	169	9	because	because	SCONJ
afbr-403	169	10	of	of	ADP
afbr-403	169	11	its	its	PRON
afbr-403	169	12	lower	low	ADJ
afbr-403	169	13	required	require	VERB
afbr-403	169	14	rate	rate	NOUN
afbr-403	169	15	(	(	PUNCT
afbr-403	169	16	mesquita	mesquita	PROPN
afbr-403	169	17	&	&	CCONJ
afbr-403	169	18	lara	lara	PROPN
afbr-403	169	19	,	,	PUNCT
afbr-403	169	20	2003	2003	NUM
afbr-403	169	21	)	)	PUNCT
afbr-403	169	22	.	.	PUNCT
afbr-403	170	1	an	an	DET
afbr-403	170	2	addition	addition	NOUN
afbr-403	170	3	to	to	ADP
afbr-403	170	4	that	that	PRON
afbr-403	170	5	according	accord	VERB
afbr-403	170	6	to	to	ADP
afbr-403	170	7	the	the	DET
afbr-403	170	8	author	author	NOUN
afbr-403	170	9	stdta	stdta	NOUN
afbr-403	170	10	is	be	AUX
afbr-403	170	11	easily	easily	ADV
afbr-403	170	12	accessible	accessible	ADJ
afbr-403	170	13	as	as	SCONJ
afbr-403	170	14	compared	compare	VERB
afbr-403	170	15	to	to	ADP
afbr-403	170	16	ltdta	ltdta	NOUN
afbr-403	170	17	because	because	SCONJ
afbr-403	170	18	bonds	bond	NOUN
afbr-403	170	19	market	market	NOUN
afbr-403	170	20	is	be	AUX
afbr-403	170	21	not	not	PART
afbr-403	170	22	yet	yet	ADV
afbr-403	170	23	developed	develop	VERB
afbr-403	170	24	in	in	ADP
afbr-403	170	25	the	the	DET
afbr-403	170	26	country	country	NOUN
afbr-403	170	27	.	.	PUNCT
afbr-403	170	28	"	"	PUNCT
afbr-403	171	1	yuvarajsambasivam	yuvarajsambasivam	ADJ
afbr-403	171	2	and	and	CCONJ
afbr-403	171	3	abate	abate	VERB
afbr-403	171	4	gashaw	gashaw	NOUN
afbr-403	171	5	(	(	PUNCT
afbr-403	171	6	2013	2013	NUM
afbr-403	171	7	)	)	PUNCT
afbr-403	171	8	"	"	PUNCT
afbr-403	171	9	examined	examine	VERB
afbr-403	171	10	the	the	DET
afbr-403	171	11	effects	effect	NOUN
afbr-403	171	12	of	of	ADP
afbr-403	171	13	firm	firm	ADJ
afbr-403	171	14	specific	specific	ADJ
afbr-403	171	15	factors	factor	NOUN
afbr-403	171	16	(	(	PUNCT
afbr-403	171	17	age	age	NOUN
afbr-403	171	18	of	of	ADP
afbr-403	171	19	company	company	NOUN
afbr-403	171	20	,	,	PUNCT
afbr-403	171	21	size	size	NOUN
afbr-403	171	22	of	of	ADP
afbr-403	171	23	company	company	NOUN
afbr-403	171	24	,	,	PUNCT
afbr-403	171	25	volume	volume	NOUN
afbr-403	171	26	of	of	ADP
afbr-403	171	27	capital	capital	NOUN
afbr-403	171	28	,	,	PUNCT
afbr-403	171	29	leverage	leverage	NOUN
afbr-403	171	30	ratio	ratio	NOUN
afbr-403	171	31	,	,	PUNCT
afbr-403	171	32	liquidity	liquidity	NOUN
afbr-403	171	33	ratio	ratio	NOUN
afbr-403	171	34	,	,	PUNCT
afbr-403	171	35	growth	growth	NOUN
afbr-403	171	36	and	and	CCONJ
afbr-403	171	37	tangibility	tangibility	NOUN
afbr-403	171	38	of	of	ADP
afbr-403	171	39	assets	asset	NOUN
afbr-403	171	40	)	)	PUNCT
afbr-403	171	41	on	on	ADP
afbr-403	171	42	profitability	profitability	NOUN
afbr-403	171	43	proxies	proxy	NOUN
afbr-403	171	44	by	by	ADP
afbr-403	171	45	return	return	NOUN
afbr-403	171	46	on	on	ADP
afbr-403	171	47	assets	asset	NOUN
afbr-403	171	48	.	.	PUNCT
afbr-403	172	1	profitability	profitability	NOUN
afbr-403	172	2	is	be	AUX
afbr-403	172	3	dependent	dependent	ADJ
afbr-403	172	4	variable	variable	NOUN
afbr-403	172	5	while	while	SCONJ
afbr-403	172	6	age	age	NOUN
afbr-403	172	7	of	of	ADP
afbr-403	172	8	company	company	NOUN
afbr-403	172	9	,	,	PUNCT
afbr-403	172	10	size	size	NOUN
afbr-403	172	11	of	of	ADP
afbr-403	172	12	company	company	NOUN
afbr-403	172	13	,	,	PUNCT
afbr-403	172	14	volume	volume	NOUN
afbr-403	172	15	of	of	ADP
afbr-403	172	16	capital	capital	NOUN
afbr-403	172	17	,	,	PUNCT
afbr-403	172	18	leverage	leverage	NOUN
afbr-403	172	19	,	,	PUNCT
afbr-403	172	20	liquidity	liquidity	NOUN
afbr-403	172	21	ratio	ratio	NOUN
afbr-403	172	22	,	,	PUNCT
afbr-403	172	23	growth	growth	NOUN
afbr-403	172	24	and	and	CCONJ
afbr-403	172	25	tangibility	tangibility	NOUN
afbr-403	172	26	of	of	ADP
afbr-403	172	27	assets	asset	NOUN
afbr-403	172	28	are	be	AUX
afbr-403	172	29	independent	independent	ADJ
afbr-403	172	30	variables	variable	NOUN
afbr-403	172	31	.	.	PUNCT
afbr-403	173	1	the	the	DET
afbr-403	173	2	sample	sample	NOUN
afbr-403	173	3	in	in	ADP
afbr-403	173	4	this	this	DET
afbr-403	173	5	study	study	NOUN
afbr-403	173	6	includes	include	VERB
afbr-403	173	7	nine	nine	NUM
afbr-403	173	8	of	of	ADP
afbr-403	173	9	the	the	DET
afbr-403	173	10	listed	list	VERB
afbr-403	173	11	insurance	insurance	NOUN
afbr-403	173	12	companies	company	NOUN
afbr-403	173	13	for	for	ADP
afbr-403	173	14	nine	nine	NUM
afbr-403	173	15	years	year	NOUN
afbr-403	173	16	(	(	PUNCT
afbr-403	173	17	2003	2003	NUM
afbr-403	173	18	-	-	SYM
afbr-403	173	19	2011	2011	NUM
afbr-403	173	20	)	)	PUNCT
afbr-403	173	21	.	.	PUNCT
afbr-403	174	1	from	from	ADP
afbr-403	174	2	the	the	DET
afbr-403	174	3	regression	regression	NOUN
afbr-403	174	4	results	result	NOUN
afbr-403	174	5	;	;	PUNCT
afbr-403	174	6	growth	growth	NOUN
afbr-403	174	7	,	,	PUNCT
afbr-403	174	8	leverage	leverage	NOUN
afbr-403	174	9	,	,	PUNCT
afbr-403	174	10	volume	volume	NOUN
afbr-403	174	11	of	of	ADP
afbr-403	174	12	capital	capital	NOUN
afbr-403	174	13	,	,	PUNCT
afbr-403	174	14	size	size	NOUN
afbr-403	174	15	,	,	PUNCT
afbr-403	174	16	and	and	CCONJ
afbr-403	174	17	liquidity	liquidity	NOUN
afbr-403	174	18	are	be	AUX
afbr-403	174	19	identified	identify	VERB
afbr-403	174	20	as	as	ADP
afbr-403	174	21	most	most	ADV
afbr-403	174	22	important	important	ADJ
afbr-403	174	23	determinant	determinant	ADJ
afbr-403	174	24	factors	factor	NOUN
afbr-403	174	25	of	of	ADP
afbr-403	174	26	profitability	profitability	NOUN
afbr-403	174	27	hence	hence	ADV
afbr-403	174	28	growth	growth	NOUN
afbr-403	174	29	,	,	PUNCT
afbr-403	174	30	size	size	NOUN
afbr-403	174	31	,	,	PUNCT
afbr-403	174	32	and	and	CCONJ
afbr-403	174	33	volume	volume	NOUN
afbr-403	174	34	of	of	ADP
afbr-403	174	35	capita	caput	NOUN
afbr-403	174	36	are	be	AUX
afbr-403	174	37	positively	positively	ADV
afbr-403	174	38	related	relate	VERB
afbr-403	174	39	.	.	PUNCT
afbr-403	175	1	in	in	ADP
afbr-403	175	2	contrast	contrast	NOUN
afbr-403	175	3	,	,	PUNCT
afbr-403	175	4	liquidity	liquidity	NOUN
afbr-403	175	5	ratio	ratio	NOUN
afbr-403	175	6	and	and	CCONJ
afbr-403	175	7	leverage	leverage	NOUN
afbr-403	175	8	ratio	ratio	NOUN
afbr-403	175	9	are	be	AUX
afbr-403	175	10	negatively	negatively	ADV
afbr-403	175	11	but	but	CCONJ
afbr-403	175	12	significantly	significantly	ADV
afbr-403	175	13	related	relate	VERB
afbr-403	175	14	with	with	ADP
afbr-403	175	15	profitability	profitability	NOUN
afbr-403	175	16	.	.	PUNCT
afbr-403	176	1	the	the	DET
afbr-403	176	2	age	age	NOUN
afbr-403	176	3	of	of	ADP
afbr-403	176	4	companies	company	NOUN
afbr-403	176	5	and	and	CCONJ
afbr-403	176	6	tangibility	tangibility	NOUN
afbr-403	176	7	of	of	ADP
afbr-403	176	8	assets	asset	NOUN
afbr-403	176	9	are	be	AUX
afbr-403	176	10	not	not	PART
afbr-403	176	11	significantly	significantly	ADV
afbr-403	176	12	related	relate	VERB
afbr-403	176	13	with	with	ADP
afbr-403	176	14	profitability	profitability	NOUN
afbr-403	176	15	.	.	PUNCT
afbr-403	176	16	"	"	PUNCT
afbr-403	177	1	copyright	copyright	NOUN
afbr-403	177	2	©	©	PROPN
afbr-403	177	3	cc	cc	PROPN
afbr-403	177	4	-	-	PUNCT
afbr-403	177	5	by	by	ADP
afbr-403	177	6	-	-	PUNCT
afbr-403	177	7	nc	nc	PROPN
afbr-403	177	8	2019	2019	NUM
afbr-403	177	9	,	,	PUNCT
afbr-403	177	10	cribfb	cribfb	PROPN
afbr-403	177	11	|	|	ADV
afbr-403	177	12	afbr	afbr	PROPN
afbr-403	177	13	www.cribfb.com/journal/index.php/afbr	www.cribfb.com/journal/index.php/afbr	ADJ
afbr-403	177	14	australian	australian	ADJ
afbr-403	177	15	finance	finance	PROPN
afbr-403	177	16	&	&	CCONJ
afbr-403	177	17	banking	banking	PROPN
afbr-403	177	18	review	review	PROPN
afbr-403	177	19	vol	vol	NOUN
afbr-403	177	20	.	.	PROPN
afbr-403	178	1	3	3	NUM
afbr-403	178	2	,	,	PUNCT
afbr-403	178	3	no	no	INTJ
afbr-403	178	4	.	.	NOUN
afbr-403	178	5	2	2	NUM
afbr-403	178	6	;	;	PUNCT
afbr-403	178	7	2019	2019	NUM
afbr-403	178	8	10	10	NUM
afbr-403	178	9	babalola	babalola	NOUN
afbr-403	178	10	(	(	PUNCT
afbr-403	178	11	2014	2014	NUM
afbr-403	178	12	)	)	PUNCT
afbr-403	178	13	"	"	PUNCT
afbr-403	178	14	used	use	VERB
afbr-403	178	15	31	31	NUM
afbr-403	178	16	manufacturing	manufacturing	NOUN
afbr-403	178	17	firms	firm	NOUN
afbr-403	178	18	with	with	ADP
afbr-403	178	19	audited	audit	VERB
afbr-403	178	20	financial	financial	ADJ
afbr-403	178	21	statements	statement	NOUN
afbr-403	178	22	for	for	ADP
afbr-403	178	23	a	a	DET
afbr-403	178	24	period	period	NOUN
afbr-403	178	25	of	of	ADP
afbr-403	178	26	fourteen	fourteen	NUM
afbr-403	178	27	years	year	NOUN
afbr-403	178	28	(	(	PUNCT
afbr-403	178	29	1999	1999	NUM
afbr-403	178	30	-	-	SYM
afbr-403	178	31	2012	2012	NUM
afbr-403	178	32	)	)	PUNCT
afbr-403	178	33	from	from	ADP
afbr-403	178	34	static	static	ADJ
afbr-403	178	35	trade	trade	NOUN
afbr-403	178	36	-	-	PUNCT
afbr-403	178	37	off	off	ADP
afbr-403	178	38	point	point	NOUN
afbr-403	178	39	of	of	ADP
afbr-403	178	40	view	view	NOUN
afbr-403	178	41	.	.	PUNCT
afbr-403	179	1	he	he	PRON
afbr-403	179	2	employed	employ	VERB
afbr-403	179	3	the	the	DET
afbr-403	179	4	triangulation	triangulation	NOUN
afbr-403	179	5	analysis	analysis	NOUN
afbr-403	179	6	and	and	CCONJ
afbr-403	179	7	the	the	DET
afbr-403	179	8	study	study	NOUN
afbr-403	179	9	revealed	reveal	VERB
afbr-403	179	10	that	that	SCONJ
afbr-403	179	11	capital	capital	NOUN
afbr-403	179	12	structure	structure	NOUN
afbr-403	179	13	is	be	AUX
afbr-403	179	14	a	a	DET
afbr-403	179	15	trade	trade	NOUN
afbr-403	179	16	-	-	PUNCT
afbr-403	179	17	off	off	NOUN
afbr-403	179	18	between	between	ADP
afbr-403	179	19	the	the	DET
afbr-403	179	20	costs	cost	NOUN
afbr-403	179	21	and	and	CCONJ
afbr-403	179	22	benefits	benefit	NOUN
afbr-403	179	23	of	of	ADP
afbr-403	179	24	debt	debt	NOUN
afbr-403	179	25	,	,	PUNCT
afbr-403	179	26	and	and	CCONJ
afbr-403	179	27	it	it	PRON
afbr-403	179	28	has	have	AUX
afbr-403	179	29	been	be	AUX
afbr-403	179	30	refuted	refute	VERB
afbr-403	179	31	that	that	SCONJ
afbr-403	179	32	large	large	ADJ
afbr-403	179	33	firms	firm	NOUN
afbr-403	179	34	are	be	AUX
afbr-403	179	35	more	more	ADV
afbr-403	179	36	inclined	inclined	ADJ
afbr-403	179	37	to	to	PART
afbr-403	179	38	retain	retain	VERB
afbr-403	179	39	higher	high	ADJ
afbr-403	179	40	performance	performance	NOUN
afbr-403	179	41	than	than	ADP
afbr-403	179	42	middle	middle	ADJ
afbr-403	179	43	firms	firm	NOUN
afbr-403	179	44	under	under	ADP
afbr-403	179	45	the	the	DET
afbr-403	179	46	same	same	ADJ
afbr-403	179	47	level	level	NOUN
afbr-403	179	48	debt	debt	NOUN
afbr-403	179	49	ratio	ratio	NOUN
afbr-403	179	50	.	.	PUNCT
afbr-403	179	51	"	"	PUNCT
afbr-403	180	1	akinyomi	akinyomi	NOUN
afbr-403	180	2	(	(	PUNCT
afbr-403	180	3	2013	2013	NUM
afbr-403	180	4	)	)	PUNCT
afbr-403	180	5	"	"	PUNCT
afbr-403	180	6	used	use	VERB
afbr-403	180	7	three	three	NUM
afbr-403	180	8	manufacturing	manufacturing	NOUN
afbr-403	180	9	companies	company	NOUN
afbr-403	180	10	selected	select	VERB
afbr-403	180	11	randomly	randomly	ADV
afbr-403	180	12	from	from	ADP
afbr-403	180	13	the	the	DET
afbr-403	180	14	food	food	NOUN
afbr-403	180	15	and	and	CCONJ
afbr-403	180	16	beverage	beverage	NOUN
afbr-403	180	17	categories	category	NOUN
afbr-403	180	18	and	and	CCONJ
afbr-403	180	19	a	a	DET
afbr-403	180	20	period	period	NOUN
afbr-403	180	21	of	of	ADP
afbr-403	180	22	five	five	NUM
afbr-403	180	23	years	year	NOUN
afbr-403	180	24	(	(	PUNCT
afbr-403	180	25	2007	2007	NUM
afbr-403	180	26	-	-	SYM
afbr-403	180	27	2011	2011	NUM
afbr-403	180	28	)	)	PUNCT
afbr-403	180	29	using	use	VERB
afbr-403	180	30	the	the	DET
afbr-403	180	31	static	static	ADJ
afbr-403	180	32	trade	trade	NOUN
afbr-403	180	33	-	-	PUNCT
afbr-403	180	34	off	off	NOUN
afbr-403	180	35	and	and	CCONJ
afbr-403	180	36	the	the	DET
afbr-403	180	37	pecking	pecking	NOUN
afbr-403	180	38	order	order	NOUN
afbr-403	180	39	theory	theory	NOUN
afbr-403	180	40	point	point	NOUN
afbr-403	180	41	of	of	ADP
afbr-403	180	42	view	view	NOUN
afbr-403	180	43	.	.	PUNCT
afbr-403	181	1	he	he	PRON
afbr-403	181	2	adopted	adopt	VERB
afbr-403	181	3	the	the	DET
afbr-403	181	4	use	use	NOUN
afbr-403	181	5	of	of	ADP
afbr-403	181	6	correlation	correlation	NOUN
afbr-403	181	7	analysis	analysis	NOUN
afbr-403	181	8	method	method	NOUN
afbr-403	181	9	and	and	CCONJ
afbr-403	181	10	revealed	reveal	VERB
afbr-403	181	11	that	that	SCONJ
afbr-403	181	12	each	each	PRON
afbr-403	181	13	of	of	ADP
afbr-403	181	14	debt	debt	NOUN
afbr-403	181	15	to	to	ADP
afbr-403	181	16	capital	capital	NOUN
afbr-403	181	17	,	,	PUNCT
afbr-403	181	18	debt	debt	NOUN
afbr-403	181	19	to	to	ADP
afbr-403	181	20	common	common	ADJ
afbr-403	181	21	equity	equity	NOUN
afbr-403	181	22	,	,	PUNCT
afbr-403	181	23	short	short	ADJ
afbr-403	181	24	term	term	NOUN
afbr-403	181	25	debt	debt	NOUN
afbr-403	181	26	to	to	ADP
afbr-403	181	27	total	total	ADJ
afbr-403	181	28	debt	debt	NOUN
afbr-403	181	29	and	and	CCONJ
afbr-403	181	30	the	the	DET
afbr-403	181	31	age	age	NOUN
afbr-403	181	32	of	of	ADP
afbr-403	181	33	the	the	DET
afbr-403	181	34	firms	firm	NOUN
afbr-403	181	35	’	'	PUNCT
afbr-403	181	36	is	be	AUX
afbr-403	181	37	significantly	significantly	ADV
afbr-403	181	38	and	and	CCONJ
afbr-403	181	39	positively	positively	ADV
afbr-403	181	40	related	relate	VERB
afbr-403	181	41	to	to	PART
afbr-403	181	42	return	return	VERB
afbr-403	181	43	on	on	ADP
afbr-403	181	44	asset	asset	NOUN
afbr-403	181	45	and	and	CCONJ
afbr-403	181	46	return	return	VERB
afbr-403	181	47	on	on	ADP
afbr-403	181	48	equity	equity	NOUN
afbr-403	181	49	but	but	CCONJ
afbr-403	181	50	long	long	ADJ
afbr-403	181	51	term	term	NOUN
afbr-403	181	52	debt	debt	NOUN
afbr-403	181	53	to	to	ADP
afbr-403	181	54	capital	capital	NOUN
afbr-403	181	55	is	be	AUX
afbr-403	181	56	significantly	significantly	ADV
afbr-403	181	57	and	and	CCONJ
afbr-403	181	58	relatively	relatively	ADV
afbr-403	181	59	related	relate	VERB
afbr-403	181	60	to	to	PART
afbr-403	181	61	return	return	VERB
afbr-403	181	62	on	on	ADP
afbr-403	181	63	asset	asset	NOUN
afbr-403	181	64	and	and	CCONJ
afbr-403	181	65	return	return	VERB
afbr-403	181	66	on	on	ADP
afbr-403	181	67	return	return	NOUN
afbr-403	181	68	on	on	ADP
afbr-403	181	69	equity	equity	NOUN
afbr-403	181	70	.	.	PUNCT
afbr-403	182	1	his	his	PRON
afbr-403	182	2	hypothesis	hypothesis	NOUN
afbr-403	182	3	also	also	ADV
afbr-403	182	4	tested	test	VERB
afbr-403	182	5	that	that	SCONJ
afbr-403	182	6	there	there	PRON
afbr-403	182	7	is	be	VERB
afbr-403	182	8	significant	significant	ADJ
afbr-403	182	9	relationship	relationship	NOUN
afbr-403	182	10	between	between	ADP
afbr-403	182	11	capital	capital	NOUN
afbr-403	182	12	structure	structure	NOUN
afbr-403	182	13	and	and	CCONJ
afbr-403	182	14	financial	financial	ADJ
afbr-403	182	15	performance	performance	NOUN
afbr-403	182	16	using	use	VERB
afbr-403	182	17	both	both	CCONJ
afbr-403	182	18	return	return	NOUN
afbr-403	182	19	on	on	ADP
afbr-403	182	20	asset	asset	NOUN
afbr-403	182	21	and	and	CCONJ
afbr-403	182	22	return	return	VERB
afbr-403	182	23	on	on	ADP
afbr-403	182	24	equity	equity	NOUN
afbr-403	182	25	.	.	PUNCT
afbr-403	182	26	"	"	PUNCT
afbr-403	183	1	bassey	bassey	PROPN
afbr-403	183	2	,	,	PUNCT
afbr-403	183	3	aniekan	aniekan	PROPN
afbr-403	183	4	,	,	PUNCT
afbr-403	183	5	ikpe	ikpe	NOUN
afbr-403	183	6	and	and	CCONJ
afbr-403	183	7	udo	udo	NOUN
afbr-403	183	8	(	(	PUNCT
afbr-403	183	9	2013	2013	NUM
afbr-403	183	10	)	)	PUNCT
afbr-403	183	11	"	"	PUNCT
afbr-403	183	12	used	use	VERB
afbr-403	183	13	a	a	DET
afbr-403	183	14	sample	sample	NOUN
afbr-403	183	15	of	of	ADP
afbr-403	183	16	60	60	NUM
afbr-403	183	17	unquoted	unquote	VERB
afbr-403	183	18	agro	agro	NOUN
afbr-403	183	19	-	-	PUNCT
afbr-403	183	20	based	base	VERB
afbr-403	183	21	firms	firm	NOUN
afbr-403	183	22	in	in	ADP
afbr-403	183	23	nigeria	nigeria	PROPN
afbr-403	183	24	within	within	ADP
afbr-403	183	25	a	a	DET
afbr-403	183	26	period	period	NOUN
afbr-403	183	27	of	of	ADP
afbr-403	183	28	six	six	NUM
afbr-403	183	29	years	year	NOUN
afbr-403	183	30	(	(	PUNCT
afbr-403	183	31	2005	2005	NUM
afbr-403	183	32	-	-	SYM
afbr-403	183	33	2010	2010	NUM
afbr-403	183	34	)	)	PUNCT
afbr-403	183	35	from	from	ADP
afbr-403	183	36	the	the	DET
afbr-403	183	37	agency	agency	NOUN
afbr-403	183	38	cost	cost	NOUN
afbr-403	183	39	theory	theory	NOUN
afbr-403	183	40	point	point	NOUN
afbr-403	183	41	of	of	ADP
afbr-403	183	42	view	view	NOUN
afbr-403	183	43	.	.	PUNCT
afbr-403	184	1	they	they	PRON
afbr-403	184	2	employed	employ	VERB
afbr-403	184	3	the	the	DET
afbr-403	184	4	ordinary	ordinary	ADJ
afbr-403	184	5	least	least	ADJ
afbr-403	184	6	square	square	ADJ
afbr-403	184	7	regression	regression	NOUN
afbr-403	184	8	and	and	CCONJ
afbr-403	184	9	descriptive	descriptive	ADJ
afbr-403	184	10	statistics	statistic	NOUN
afbr-403	184	11	and	and	CCONJ
afbr-403	184	12	revealed	reveal	VERB
afbr-403	184	13	that	that	SCONJ
afbr-403	184	14	only	only	ADV
afbr-403	184	15	growth	growth	NOUN
afbr-403	184	16	and	and	CCONJ
afbr-403	184	17	educational	educational	ADJ
afbr-403	184	18	level	level	NOUN
afbr-403	184	19	of	of	ADP
afbr-403	184	20	firms	firm	NOUN
afbr-403	184	21	owners	owner	NOUN
afbr-403	184	22	were	be	AUX
afbr-403	184	23	significant	significant	ADJ
afbr-403	184	24	determinants	determinant	NOUN
afbr-403	184	25	of	of	ADP
afbr-403	184	26	both	both	CCONJ
afbr-403	184	27	long	long	ADJ
afbr-403	184	28	and	and	CCONJ
afbr-403	184	29	short	short	ADJ
afbr-403	184	30	term	term	NOUN
afbr-403	184	31	debt	debt	NOUN
afbr-403	184	32	ratios	ratio	NOUN
afbr-403	184	33	,	,	PUNCT
afbr-403	184	34	assets	asset	NOUN
afbr-403	184	35	structure	structure	NOUN
afbr-403	184	36	,	,	PUNCT
afbr-403	184	37	age	age	NOUN
afbr-403	184	38	of	of	ADP
afbr-403	184	39	the	the	DET
afbr-403	184	40	firms	firm	NOUN
afbr-403	184	41	,	,	PUNCT
afbr-403	184	42	gender	gender	NOUN
afbr-403	184	43	of	of	ADP
afbr-403	184	44	owners	owner	NOUN
afbr-403	184	45	and	and	CCONJ
afbr-403	184	46	export	export	NOUN
afbr-403	184	47	status	status	NOUN
afbr-403	184	48	impacted	impact	VERB
afbr-403	184	49	significantly	significantly	ADV
afbr-403	184	50	on	on	ADP
afbr-403	184	51	long	long	ADJ
afbr-403	184	52	term	term	NOUN
afbr-403	184	53	debt	debt	NOUN
afbr-403	184	54	ratios	ratio	NOUN
afbr-403	184	55	,	,	PUNCT
afbr-403	184	56	while	while	SCONJ
afbr-403	184	57	business	business	NOUN
afbr-403	184	58	risk	risk	NOUN
afbr-403	184	59	,	,	PUNCT
afbr-403	184	60	size	size	NOUN
afbr-403	184	61	and	and	CCONJ
afbr-403	184	62	profitability	profitability	NOUN
afbr-403	184	63	of	of	ADP
afbr-403	184	64	firms	firm	NOUN
afbr-403	184	65	were	be	AUX
afbr-403	184	66	major	major	ADJ
afbr-403	184	67	determinants	determinant	NOUN
afbr-403	184	68	of	of	ADP
afbr-403	184	69	short	short	ADJ
afbr-403	184	70	term	term	NOUN
afbr-403	184	71	debt	debt	NOUN
afbr-403	184	72	ratio	ratio	NOUN
afbr-403	184	73	for	for	ADP
afbr-403	184	74	the	the	DET
afbr-403	184	75	firms	firm	NOUN
afbr-403	184	76	under	under	ADP
afbr-403	184	77	investigation	investigation	NOUN
afbr-403	184	78	.	.	PUNCT
afbr-403	184	79	"	"	PUNCT
afbr-403	185	1	khalaf	khalaf	PROPN
afbr-403	185	2	(	(	PUNCT
afbr-403	185	3	2013	2013	NUM
afbr-403	185	4	)	)	PUNCT
afbr-403	185	5	"	"	PUNCT
afbr-403	185	6	used	use	VERB
afbr-403	185	7	a	a	DET
afbr-403	185	8	sample	sample	NOUN
afbr-403	185	9	of	of	ADP
afbr-403	185	10	45	45	NUM
afbr-403	185	11	manufacturing	manufacturing	NOUN
afbr-403	185	12	companies	company	NOUN
afbr-403	185	13	listed	list	VERB
afbr-403	185	14	on	on	ADP
afbr-403	185	15	the	the	DET
afbr-403	185	16	amman	amman	PROPN
afbr-403	185	17	stock	stock	PROPN
afbr-403	185	18	exchange	exchange	PROPN
afbr-403	185	19	were	be	AUX
afbr-403	185	20	used	use	VERB
afbr-403	185	21	for	for	ADP
afbr-403	185	22	this	this	DET
afbr-403	185	23	study	study	NOUN
afbr-403	185	24	which	which	PRON
afbr-403	185	25	covers	cover	VERB
afbr-403	185	26	a	a	DET
afbr-403	185	27	period	period	NOUN
afbr-403	185	28	of	of	ADP
afbr-403	185	29	five	five	NUM
afbr-403	185	30	(	(	PUNCT
afbr-403	185	31	5	5	NUM
afbr-403	185	32	)	)	PUNCT
afbr-403	185	33	years	year	NOUN
afbr-403	185	34	from	from	ADP
afbr-403	185	35	2005	2005	NUM
afbr-403	185	36	-	-	SYM
afbr-403	185	37	2009	2009	NUM
afbr-403	185	38	.	.	PUNCT
afbr-403	186	1	multiple	multiple	ADJ
afbr-403	186	2	regression	regression	NOUN
afbr-403	186	3	analysis	analysis	NOUN
afbr-403	186	4	was	be	AUX
afbr-403	186	5	applied	apply	VERB
afbr-403	186	6	on	on	ADP
afbr-403	186	7	performance	performance	NOUN
afbr-403	186	8	indicators	indicator	NOUN
afbr-403	186	9	such	such	ADJ
afbr-403	186	10	as	as	ADP
afbr-403	186	11	return	return	NOUN
afbr-403	186	12	on	on	ADP
afbr-403	186	13	asset	asset	NOUN
afbr-403	186	14	(	(	PUNCT
afbr-403	186	15	roa	roa	PROPN
afbr-403	186	16	)	)	PUNCT
afbr-403	186	17	and	and	CCONJ
afbr-403	186	18	profit	profit	NOUN
afbr-403	186	19	margin	margin	NOUN
afbr-403	186	20	(	(	PUNCT
afbr-403	186	21	pm	pm	NOUN
afbr-403	186	22	)	)	PUNCT
afbr-403	186	23	as	as	ADV
afbr-403	186	24	well	well	ADV
afbr-403	186	25	as	as	ADP
afbr-403	186	26	short	short	ADJ
afbr-403	186	27	-	-	PUNCT
afbr-403	186	28	term	term	NOUN
afbr-403	186	29	debt	debt	NOUN
afbr-403	186	30	to	to	ADP
afbr-403	186	31	total	total	ADJ
afbr-403	186	32	assets	asset	NOUN
afbr-403	186	33	(	(	PUNCT
afbr-403	186	34	stdta	stdta	NOUN
afbr-403	186	35	)	)	PUNCT
afbr-403	186	36	,	,	PUNCT
afbr-403	186	37	long	long	ADJ
afbr-403	186	38	term	term	NOUN
afbr-403	186	39	debt	debt	NOUN
afbr-403	186	40	to	to	ADP
afbr-403	186	41	total	total	ADJ
afbr-403	186	42	assets	asset	NOUN
afbr-403	186	43	(	(	PUNCT
afbr-403	186	44	ltdta	ltdta	ADJ
afbr-403	186	45	)	)	PUNCT
afbr-403	186	46	and	and	CCONJ
afbr-403	186	47	total	total	ADJ
afbr-403	186	48	debt	debt	NOUN
afbr-403	186	49	to	to	ADP
afbr-403	186	50	equity	equity	NOUN
afbr-403	186	51	(	(	PUNCT
afbr-403	186	52	tde	tde	PROPN
afbr-403	186	53	)	)	PUNCT
afbr-403	186	54	as	as	ADP
afbr-403	186	55	capital	capital	NOUN
afbr-403	186	56	structure	structure	NOUN
afbr-403	186	57	variables	variable	NOUN
afbr-403	186	58	.	.	PUNCT
afbr-403	187	1	the	the	DET
afbr-403	187	2	results	result	NOUN
afbr-403	187	3	show	show	VERB
afbr-403	187	4	that	that	SCONJ
afbr-403	187	5	there	there	PRON
afbr-403	187	6	is	be	VERB
afbr-403	187	7	a	a	DET
afbr-403	187	8	negative	negative	ADJ
afbr-403	187	9	and	and	CCONJ
afbr-403	187	10	insignificant	insignificant	ADJ
afbr-403	187	11	relationship	relationship	NOUN
afbr-403	187	12	between	between	ADP
afbr-403	187	13	stdta	stdta	NOUN
afbr-403	187	14	and	and	CCONJ
afbr-403	187	15	ltdta	ltdta	ADJ
afbr-403	187	16	,	,	PUNCT
afbr-403	187	17	and	and	CCONJ
afbr-403	187	18	roa	roa	NOUN
afbr-403	187	19	and	and	CCONJ
afbr-403	187	20	pm	pm	NOUN
afbr-403	187	21	;	;	PUNCT
afbr-403	187	22	while	while	SCONJ
afbr-403	187	23	tde	tde	ADJ
afbr-403	187	24	is	be	AUX
afbr-403	187	25	positively	positively	ADV
afbr-403	187	26	related	relate	VERB
afbr-403	187	27	with	with	ADP
afbr-403	187	28	roa	roa	NOUN
afbr-403	187	29	and	and	CCONJ
afbr-403	187	30	negatively	negatively	ADV
afbr-403	187	31	related	relate	VERB
afbr-403	187	32	with	with	ADP
afbr-403	187	33	pm	pm	NOUN
afbr-403	187	34	.	.	PUNCT
afbr-403	188	1	stdta	stdta	NOUN
afbr-403	188	2	is	be	AUX
afbr-403	188	3	significant	significant	ADJ
afbr-403	188	4	using	use	VERB
afbr-403	188	5	roa	roa	NOUN
afbr-403	188	6	while	while	SCONJ
afbr-403	188	7	ltdta	ltdta	ADJ
afbr-403	188	8	is	be	AUX
afbr-403	188	9	significant	significant	ADJ
afbr-403	188	10	using	use	VERB
afbr-403	188	11	pm	pm	NOUN
afbr-403	188	12	.	.	PUNCT
afbr-403	189	1	the	the	DET
afbr-403	189	2	study	study	NOUN
afbr-403	189	3	concludes	conclude	VERB
afbr-403	189	4	that	that	SCONJ
afbr-403	189	5	statistically	statistically	ADV
afbr-403	189	6	,	,	PUNCT
afbr-403	189	7	capital	capital	NOUN
afbr-403	189	8	structure	structure	NOUN
afbr-403	189	9	is	be	AUX
afbr-403	189	10	not	not	PART
afbr-403	189	11	a	a	DET
afbr-403	189	12	major	major	ADJ
afbr-403	189	13	determinant	determinant	NOUN
afbr-403	189	14	of	of	ADP
afbr-403	189	15	firm	firm	ADJ
afbr-403	189	16	performance	performance	NOUN
afbr-403	189	17	.	.	PUNCT
afbr-403	190	1	it	it	PRON
afbr-403	190	2	recommends	recommend	VERB
afbr-403	190	3	that	that	SCONJ
afbr-403	190	4	managers	manager	NOUN
afbr-403	190	5	of	of	ADP
afbr-403	190	6	manufacturing	manufacture	VERB
afbr-403	190	7	companies	company	NOUN
afbr-403	190	8	should	should	AUX
afbr-403	190	9	exercise	exercise	VERB
afbr-403	190	10	caution	caution	NOUN
afbr-403	190	11	while	while	SCONJ
afbr-403	190	12	choosing	choose	VERB
afbr-403	190	13	the	the	DET
afbr-403	190	14	amount	amount	NOUN
afbr-403	190	15	of	of	ADP
afbr-403	190	16	debt	debt	NOUN
afbr-403	190	17	to	to	PART
afbr-403	190	18	use	use	VERB
afbr-403	190	19	in	in	ADP
afbr-403	190	20	their	their	PRON
afbr-403	190	21	capital	capital	NOUN
afbr-403	190	22	structure	structure	NOUN
afbr-403	190	23	as	as	SCONJ
afbr-403	190	24	it	it	PRON
afbr-403	190	25	affects	affect	VERB
afbr-403	190	26	their	their	PRON
afbr-403	190	27	performance	performance	NOUN
afbr-403	190	28	negatively	negatively	ADV
afbr-403	190	29	.	.	PUNCT
afbr-403	190	30	"	"	PUNCT
afbr-403	191	1	nirajini	nirajini	PROPN
afbr-403	191	2	and	and	CCONJ
afbr-403	191	3	priya	priya	PROPN
afbr-403	191	4	(	(	PUNCT
afbr-403	191	5	2013	2013	NUM
afbr-403	191	6	)	)	PUNCT
afbr-403	191	7	"	"	PUNCT
afbr-403	191	8	used	use	VERB
afbr-403	191	9	data	datum	NOUN
afbr-403	191	10	of	of	ADP
afbr-403	191	11	trading	trading	NOUN
afbr-403	191	12	companies	company	NOUN
afbr-403	191	13	listed	list	VERB
afbr-403	191	14	in	in	ADP
afbr-403	191	15	sri	sri	PROPN
afbr-403	191	16	lanka	lanka	PROPN
afbr-403	191	17	from	from	ADP
afbr-403	191	18	year	year	NOUN
afbr-403	191	19	2006	2006	NUM
afbr-403	191	20	to	to	ADP
afbr-403	191	21	2010	2010	NUM
afbr-403	191	22	and	and	CCONJ
afbr-403	191	23	used	use	VERB
afbr-403	191	24	correlation	correlation	NOUN
afbr-403	191	25	and	and	CCONJ
afbr-403	191	26	multiple	multiple	ADJ
afbr-403	191	27	regression	regression	NOUN
afbr-403	191	28	analysis	analysis	NOUN
afbr-403	191	29	and	and	CCONJ
afbr-403	191	30	found	find	VERB
afbr-403	191	31	that	that	SCONJ
afbr-403	191	32	there	there	PRON
afbr-403	191	33	is	be	VERB
afbr-403	191	34	a	a	DET
afbr-403	191	35	significant	significant	ADJ
afbr-403	191	36	relationship	relationship	NOUN
afbr-403	191	37	between	between	ADP
afbr-403	191	38	capital	capital	NOUN
afbr-403	191	39	structure	structure	NOUN
afbr-403	191	40	and	and	CCONJ
afbr-403	191	41	firm	firm	ADJ
afbr-403	191	42	performance	performance	NOUN
afbr-403	191	43	.	.	PUNCT
afbr-403	192	1	there	there	PRON
afbr-403	192	2	are	be	VERB
afbr-403	192	3	mixed	mixed	ADJ
afbr-403	192	4	results	result	NOUN
afbr-403	192	5	about	about	ADP
afbr-403	192	6	the	the	DET
afbr-403	192	7	influence	influence	NOUN
afbr-403	192	8	of	of	ADP
afbr-403	192	9	capital	capital	NOUN
afbr-403	192	10	structure	structure	NOUN
afbr-403	192	11	on	on	ADP
afbr-403	192	12	firm	firm	ADJ
afbr-403	192	13	performance	performance	NOUN
afbr-403	192	14	.	.	PUNCT
afbr-403	192	15	"	"	PUNCT
afbr-403	193	1	park	park	NOUN
afbr-403	193	2	and	and	CCONJ
afbr-403	193	3	jang	jang	PROPN
afbr-403	193	4	(	(	PUNCT
afbr-403	193	5	2013	2013	NUM
afbr-403	193	6	)	)	PUNCT
afbr-403	193	7	"	"	PUNCT
afbr-403	193	8	also	also	ADV
afbr-403	193	9	found	find	VERB
afbr-403	193	10	a	a	DET
afbr-403	193	11	positive	positive	ADJ
afbr-403	193	12	relation	relation	NOUN
afbr-403	193	13	between	between	ADP
afbr-403	193	14	capital	capital	NOUN
afbr-403	193	15	structure	structure	NOUN
afbr-403	193	16	and	and	CCONJ
afbr-403	193	17	firm	firm	ADJ
afbr-403	193	18	performance	performance	NOUN
afbr-403	193	19	after	after	ADP
afbr-403	193	20	examining	examine	VERB
afbr-403	193	21	the	the	DET
afbr-403	193	22	data	datum	NOUN
afbr-403	193	23	from	from	ADP
afbr-403	193	24	1995	1995	NUM
afbr-403	193	25	to	to	ADP
afbr-403	193	26	2008	2008	NUM
afbr-403	193	27	of	of	ADP
afbr-403	193	28	308	308	NUM
afbr-403	193	29	restaurant	restaurant	NOUN
afbr-403	193	30	firms	firm	NOUN
afbr-403	193	31	.	.	PUNCT
afbr-403	194	1	debt	debt	NOUN
afbr-403	194	2	can	can	AUX
afbr-403	194	3	efficiently	efficiently	ADV
afbr-403	194	4	be	be	AUX
afbr-403	194	5	used	use	VERB
afbr-403	194	6	to	to	PART
afbr-403	194	7	reduce	reduce	VERB
afbr-403	194	8	free	free	ADJ
afbr-403	194	9	cash	cash	NOUN
afbr-403	194	10	flows	flow	NOUN
afbr-403	194	11	and	and	CCONJ
afbr-403	194	12	to	to	PART
afbr-403	194	13	increase	increase	VERB
afbr-403	194	14	firm	firm	ADJ
afbr-403	194	15	profitability	profitability	NOUN
afbr-403	194	16	,	,	PUNCT
afbr-403	194	17	park	park	NOUN
afbr-403	194	18	and	and	CCONJ
afbr-403	194	19	jang	jang	PROPN
afbr-403	194	20	(	(	PUNCT
afbr-403	194	21	2013	2013	NUM
afbr-403	194	22	)	)	PUNCT
afbr-403	194	23	.	.	PUNCT
afbr-403	195	1	capital	capital	NOUN
afbr-403	195	2	structure	structure	NOUN
afbr-403	195	3	does	do	AUX
afbr-403	195	4	impact	impact	VERB
afbr-403	195	5	firm	firm	ADJ
afbr-403	195	6	performance	performance	NOUN
afbr-403	195	7	in	in	ADP
afbr-403	195	8	a	a	DET
afbr-403	195	9	positive	positive	ADJ
afbr-403	195	10	way	way	NOUN
afbr-403	195	11	,	,	PUNCT
afbr-403	195	12	nirajini	nirajini	NOUN
afbr-403	195	13	and	and	CCONJ
afbr-403	195	14	priya	priya	PROPN
afbr-403	195	15	(	(	PUNCT
afbr-403	195	16	2013	2013	NUM
afbr-403	195	17	)	)	PUNCT
afbr-403	195	18	found	find	VERB
afbr-403	195	19	after	after	ADP
afbr-403	195	20	analyzing	analyze	VERB
afbr-403	195	21	financial	financial	ADJ
afbr-403	195	22	statements	statement	NOUN
afbr-403	195	23	of	of	ADP
afbr-403	195	24	companies	company	NOUN
afbr-403	195	25	in	in	ADP
afbr-403	195	26	sri	sri	PROPN
afbr-403	195	27	lanka	lanka	PROPN
afbr-403	195	28	.	.	PUNCT
afbr-403	195	29	"	"	PUNCT
afbr-403	196	1	mitani	mitani	PROPN
afbr-403	196	2	(	(	PUNCT
afbr-403	196	3	2014	2014	NUM
afbr-403	196	4	)	)	PUNCT
afbr-403	197	1	"	"	PUNCT
afbr-403	197	2	chosed	chose	VERB
afbr-403	197	3	799	799	NUM
afbr-403	197	4	manufacturing	manufacturing	NOUN
afbr-403	197	5	firms	firm	NOUN
afbr-403	197	6	listed	list	VERB
afbr-403	197	7	on	on	ADP
afbr-403	197	8	the	the	DET
afbr-403	197	9	tokyo	tokyo	PROPN
afbr-403	197	10	stock	stock	NOUN
afbr-403	197	11	exchange	exchange	NOUN
afbr-403	197	12	(	(	PUNCT
afbr-403	197	13	tse	tse	PROPN
afbr-403	197	14	)	)	PUNCT
afbr-403	197	15	and	and	CCONJ
afbr-403	197	16	presented	present	VERB
afbr-403	197	17	the	the	DET
afbr-403	197	18	evidence	evidence	NOUN
afbr-403	197	19	of	of	ADP
afbr-403	197	20	positive	positive	ADJ
afbr-403	197	21	correlation	correlation	NOUN
afbr-403	197	22	between	between	ADP
afbr-403	197	23	leverage	leverage	NOUN
afbr-403	197	24	and	and	CCONJ
afbr-403	197	25	market	market	NOUN
afbr-403	197	26	share	share	NOUN
afbr-403	197	27	under	under	ADP
afbr-403	197	28	both	both	DET
afbr-403	197	29	types	type	NOUN
afbr-403	197	30	of	of	ADP
afbr-403	197	31	competition	competition	NOUN
afbr-403	197	32	,	,	PUNCT
afbr-403	197	33	cournot	cournot	ADV
afbr-403	197	34	competition	competition	NOUN
afbr-403	197	35	and	and	CCONJ
afbr-403	197	36	bertrand	bertrand	PROPN
afbr-403	197	37	competitions	competition	NOUN
afbr-403	197	38	.	.	PUNCT
afbr-403	198	1	huang	huang	PROPN
afbr-403	198	2	and	and	CCONJ
afbr-403	198	3	song	song	NOUN
afbr-403	198	4	(	(	PUNCT
afbr-403	198	5	2006	2006	NUM
afbr-403	198	6	)	)	PUNCT
afbr-403	198	7	conducted	conduct	VERB
afbr-403	198	8	research	research	NOUN
afbr-403	198	9	on	on	ADP
afbr-403	198	10	chinese	chinese	ADJ
afbr-403	198	11	firms	firm	NOUN
afbr-403	198	12	and	and	CCONJ
afbr-403	198	13	found	find	VERB
afbr-403	198	14	negative	negative	ADJ
afbr-403	198	15	relation	relation	NOUN
afbr-403	198	16	between	between	ADP
afbr-403	198	17	capital	capital	NOUN
afbr-403	198	18	structure	structure	NOUN
afbr-403	198	19	and	and	CCONJ
afbr-403	198	20	firm	firm	ADJ
afbr-403	198	21	performance	performance	NOUN
afbr-403	198	22	.	.	PUNCT
afbr-403	199	1	ghosh	ghosh	PROPN
afbr-403	199	2	(	(	PUNCT
afbr-403	199	3	2007	2007	NUM
afbr-403	199	4	)	)	PUNCT
afbr-403	199	5	came	come	VERB
afbr-403	199	6	to	to	PART
afbr-403	199	7	know	know	VERB
afbr-403	199	8	that	that	SCONJ
afbr-403	199	9	leverage	leverage	NOUN
afbr-403	199	10	is	be	AUX
afbr-403	199	11	inversely	inversely	ADV
afbr-403	199	12	correlated	correlate	VERB
afbr-403	199	13	with	with	ADP
afbr-403	199	14	profitability	profitability	NOUN
afbr-403	199	15	.	.	PUNCT
afbr-403	199	16	"	"	PUNCT
afbr-403	200	1	smith	smith	PROPN
afbr-403	200	2	,	,	PUNCT
afbr-403	200	3	chen	chen	PROPN
afbr-403	200	4	and	and	CCONJ
afbr-403	200	5	anderson	anderson	PROPN
afbr-403	200	6	(	(	PUNCT
afbr-403	200	7	2012	2012	NUM
afbr-403	200	8	)	)	PUNCT
afbr-403	200	9	"	"	PUNCT
afbr-403	200	10	studied	study	VERB
afbr-403	200	11	100	100	NUM
afbr-403	200	12	companies	company	NOUN
afbr-403	200	13	listed	list	VERB
afbr-403	200	14	on	on	ADP
afbr-403	200	15	the	the	DET
afbr-403	200	16	new	new	PROPN
afbr-403	200	17	zealand	zealand	PROPN
afbr-403	200	18	stock	stock	PROPN
afbr-403	200	19	exchange	exchange	PROPN
afbr-403	200	20	(	(	PUNCT
afbr-403	200	21	nzx	nzx	PROPN
afbr-403	200	22	)	)	PUNCT
afbr-403	200	23	,	,	PUNCT
afbr-403	200	24	proved	prove	VERB
afbr-403	200	25	that	that	SCONJ
afbr-403	200	26	leverage	leverage	NOUN
afbr-403	200	27	has	have	VERB
afbr-403	200	28	a	a	DET
afbr-403	200	29	positive	positive	ADJ
afbr-403	200	30	relation	relation	NOUN
afbr-403	200	31	with	with	ADP
afbr-403	200	32	sales	sale	NOUN
afbr-403	200	33	growth	growth	NOUN
afbr-403	200	34	but	but	CCONJ
afbr-403	200	35	it	it	PRON
afbr-403	200	36	also	also	ADV
afbr-403	200	37	decreases	decrease	VERB
afbr-403	200	38	return	return	NOUN
afbr-403	200	39	on	on	ADP
afbr-403	200	40	assets	asset	NOUN
afbr-403	200	41	(	(	PUNCT
afbr-403	200	42	roa	roa	NOUN
afbr-403	200	43	)	)	PUNCT
afbr-403	200	44	.	.	PUNCT
afbr-403	201	1	pouraghajan	pouraghajan	NOUN
afbr-403	201	2	et	et	PROPN
afbr-403	201	3	al	al	PROPN
afbr-403	201	4	.	.	PROPN
afbr-403	202	1	(	(	PUNCT
afbr-403	202	2	2012	2012	NUM
afbr-403	202	3	)	)	PUNCT
afbr-403	202	4	used	use	VERB
afbr-403	202	5	400	400	NUM
afbr-403	202	6	companies	company	NOUN
afbr-403	202	7	listed	list	VERB
afbr-403	202	8	on	on	ADP
afbr-403	202	9	the	the	DET
afbr-403	202	10	tehran	tehran	PROPN
afbr-403	202	11	stock	stock	PROPN
afbr-403	202	12	exchange	exchange	PROPN
afbr-403	202	13	(	(	PUNCT
afbr-403	202	14	tse	tse	PROPN
afbr-403	202	15	)	)	PUNCT
afbr-403	202	16	which	which	PRON
afbr-403	202	17	belonged	belong	VERB
afbr-403	202	18	to	to	ADP
afbr-403	202	19	12	12	NUM
afbr-403	202	20	sectors	sector	NOUN
afbr-403	202	21	and	and	CCONJ
afbr-403	202	22	they	they	PRON
afbr-403	202	23	found	find	VERB
afbr-403	202	24	that	that	SCONJ
afbr-403	202	25	debt	debt	NOUN
afbr-403	202	26	ratio	ratio	NOUN
afbr-403	202	27	is	be	AUX
afbr-403	202	28	significantly	significantly	ADV
afbr-403	202	29	and	and	CCONJ
afbr-403	202	30	negatively	negatively	ADV
afbr-403	202	31	related	relate	VERB
afbr-403	202	32	to	to	ADP
afbr-403	202	33	firm	firm	ADJ
afbr-403	202	34	performance	performance	NOUN
afbr-403	202	35	.	.	PUNCT
afbr-403	202	36	"	"	PUNCT
afbr-403	203	1	al	al	PROPN
afbr-403	203	2	-	-	PUNCT
afbr-403	203	3	taani	taani	ADJ
afbr-403	203	4	(	(	PUNCT
afbr-403	203	5	2013	2013	NUM
afbr-403	203	6	)	)	PUNCT
afbr-403	203	7	"	"	PUNCT
afbr-403	203	8	used	use	VERB
afbr-403	203	9	short	short	ADJ
afbr-403	203	10	term	term	NOUN
afbr-403	203	11	debt	debt	NOUN
afbr-403	203	12	to	to	ADP
afbr-403	203	13	total	total	ADJ
afbr-403	203	14	assets	asset	NOUN
afbr-403	203	15	(	(	PUNCT
afbr-403	203	16	stdta	stdta	NOUN
afbr-403	203	17	)	)	PUNCT
afbr-403	203	18	,	,	PUNCT
afbr-403	203	19	long	long	ADJ
afbr-403	203	20	term	term	NOUN
afbr-403	203	21	debt	debt	NOUN
afbr-403	203	22	to	to	ADP
afbr-403	203	23	total	total	ADJ
afbr-403	203	24	assets	asset	NOUN
afbr-403	203	25	(	(	PUNCT
afbr-403	203	26	ltdta	ltdta	ADJ
afbr-403	203	27	)	)	PUNCT
afbr-403	203	28	and	and	CCONJ
afbr-403	203	29	total	total	ADJ
afbr-403	203	30	debt	debt	NOUN
afbr-403	203	31	to	to	ADP
afbr-403	203	32	equity	equity	NOUN
afbr-403	203	33	(	(	PUNCT
afbr-403	203	34	tde	tde	PROPN
afbr-403	203	35	)	)	PUNCT
afbr-403	203	36	as	as	ADP
afbr-403	203	37	indicators	indicator	NOUN
afbr-403	203	38	of	of	ADP
afbr-403	203	39	capital	capital	NOUN
afbr-403	203	40	structure	structure	NOUN
afbr-403	203	41	and	and	CCONJ
afbr-403	203	42	used	use	VERB
afbr-403	203	43	return	return	NOUN
afbr-403	203	44	on	on	ADP
afbr-403	203	45	assets	asset	NOUN
afbr-403	203	46	(	(	PUNCT
afbr-403	203	47	roa	roa	NOUN
afbr-403	203	48	)	)	PUNCT
afbr-403	203	49	and	and	CCONJ
afbr-403	203	50	profit	profit	NOUN
afbr-403	203	51	margin	margin	NOUN
afbr-403	203	52	(	(	PUNCT
afbr-403	203	53	pm	pm	NOUN
afbr-403	203	54	)	)	PUNCT
afbr-403	203	55	as	as	SCONJ
afbr-403	203	56	performance	performance	NOUN
afbr-403	203	57	indicators	indicator	NOUN
afbr-403	203	58	to	to	PART
afbr-403	203	59	study	study	VERB
afbr-403	203	60	45	45	NUM
afbr-403	203	61	companies	company	NOUN
afbr-403	203	62	listed	list	VERB
afbr-403	203	63	on	on	ADP
afbr-403	203	64	the	the	DET
afbr-403	203	65	amman	amman	PROPN
afbr-403	203	66	stock	stock	PROPN
afbr-403	203	67	exchange	exchange	PROPN
afbr-403	203	68	(	(	PUNCT
afbr-403	203	69	ase	ase	NOUN
afbr-403	203	70	)	)	PUNCT
afbr-403	203	71	and	and	CCONJ
afbr-403	203	72	capital	capital	NOUN
afbr-403	203	73	structure	structure	NOUN
afbr-403	203	74	and	and	CCONJ
afbr-403	203	75	firm	firm	ADJ
afbr-403	203	76	performance	performance	NOUN
afbr-403	203	77	were	be	AUX
afbr-403	203	78	correlated	correlate	VERB
afbr-403	203	79	negatively	negatively	ADV
afbr-403	203	80	and	and	CCONJ
afbr-403	203	81	insignificantly	insignificantly	ADV
afbr-403	203	82	.	.	PUNCT
afbr-403	204	1	firms	firm	NOUN
afbr-403	204	2	with	with	ADP
afbr-403	204	3	moderate	moderate	ADJ
afbr-403	204	4	level	level	NOUN
afbr-403	204	5	of	of	ADP
afbr-403	204	6	long	long	ADJ
afbr-403	204	7	term	term	NOUN
afbr-403	204	8	debt	debt	NOUN
afbr-403	204	9	,	,	PUNCT
afbr-403	204	10	as	as	ADP
afbr-403	204	11	in	in	ADP
afbr-403	204	12	the	the	DET
afbr-403	204	13	market	market	NOUN
afbr-403	204	14	,	,	PUNCT
afbr-403	204	15	will	will	AUX
afbr-403	204	16	face	face	VERB
afbr-403	204	17	an	an	DET
afbr-403	204	18	increase	increase	NOUN
afbr-403	204	19	in	in	ADP
afbr-403	204	20	sales	sale	NOUN
afbr-403	204	21	,	,	PUNCT
afbr-403	204	22	but	but	CCONJ
afbr-403	204	23	firms	firm	NOUN
afbr-403	204	24	with	with	ADP
afbr-403	204	25	higher	high	ADJ
afbr-403	204	26	levels	level	NOUN
afbr-403	204	27	of	of	ADP
afbr-403	204	28	debt	debt	NOUN
afbr-403	204	29	standard	standard	NOUN
afbr-403	204	30	will	will	AUX
afbr-403	204	31	not	not	PART
afbr-403	204	32	have	have	VERB
afbr-403	204	33	significant	significant	ADJ
afbr-403	204	34	growth	growth	NOUN
afbr-403	204	35	in	in	ADP
afbr-403	204	36	sales	sale	NOUN
afbr-403	204	37	or	or	CCONJ
afbr-403	204	38	in	in	ADP
afbr-403	204	39	market	market	NOUN
afbr-403	204	40	.	.	PUNCT
afbr-403	204	41	"	"	PUNCT
afbr-403	205	1	3	3	X
afbr-403	205	2	.	.	X
afbr-403	205	3	methodology	methodology	NOUN
afbr-403	205	4	this	this	DET
afbr-403	205	5	study	study	NOUN
afbr-403	205	6	used	use	VERB
afbr-403	205	7	quasi	quasi	ADJ
afbr-403	205	8	experimental	experimental	ADJ
afbr-403	205	9	research	research	NOUN
afbr-403	205	10	design	design	NOUN
afbr-403	205	11	approach	approach	NOUN
afbr-403	205	12	to	to	PART
afbr-403	205	13	test	test	VERB
afbr-403	205	14	the	the	DET
afbr-403	205	15	validity	validity	NOUN
afbr-403	205	16	of	of	ADP
afbr-403	205	17	mm	mm	PROPN
afbr-403	205	18	hypothesis	hypothesis	NOUN
afbr-403	205	19	on	on	ADP
afbr-403	205	20	irrelevance	irrelevance	NOUN
afbr-403	205	21	of	of	ADP
afbr-403	205	22	capital	capital	NOUN
afbr-403	205	23	structure	structure	NOUN
afbr-403	205	24	in	in	ADP
afbr-403	205	25	nigeria	nigeria	PROPN
afbr-403	205	26	.	.	PUNCT
afbr-403	206	1	this	this	DET
afbr-403	206	2	approach	approach	NOUN
afbr-403	206	3	combines	combine	VERB
afbr-403	206	4	theoretical	theoretical	ADJ
afbr-403	206	5	consideration	consideration	NOUN
afbr-403	206	6	(	(	PUNCT
afbr-403	206	7	a	a	PRON
afbr-403	206	8	-	-	PUNCT
afbr-403	206	9	prior	prior	ADJ
afbr-403	206	10	criterion	criterion	NOUN
afbr-403	206	11	)	)	PUNCT
afbr-403	206	12	with	with	ADP
afbr-403	206	13	the	the	DET
afbr-403	206	14	empirical	empirical	ADJ
afbr-403	206	15	observation	observation	NOUN
afbr-403	206	16	and	and	CCONJ
afbr-403	206	17	copyright	copyright	NOUN
afbr-403	206	18	©	©	PROPN
afbr-403	206	19	cc	cc	PROPN
afbr-403	206	20	-	-	PUNCT
afbr-403	206	21	by	by	ADP
afbr-403	206	22	-	-	PUNCT
afbr-403	206	23	nc	nc	PROPN
afbr-403	206	24	2019	2019	NUM
afbr-403	206	25	,	,	PUNCT
afbr-403	206	26	cribfb	cribfb	PROPN
afbr-403	206	27	|	|	ADV
afbr-403	206	28	afbr	afbr	PROPN
afbr-403	206	29	www.cribfb.com/journal/index.php/afbr	www.cribfb.com/journal/index.php/afbr	ADJ
afbr-403	206	30	australian	australian	ADJ
afbr-403	206	31	finance	finance	PROPN
afbr-403	206	32	&	&	CCONJ
afbr-403	206	33	banking	banking	PROPN
afbr-403	206	34	review	review	PROPN
afbr-403	206	35	vol	vol	NOUN
afbr-403	206	36	.	.	PROPN
afbr-403	207	1	3	3	NUM
afbr-403	207	2	,	,	PUNCT
afbr-403	207	3	no	no	INTJ
afbr-403	207	4	.	.	NOUN
afbr-403	207	5	2	2	NUM
afbr-403	207	6	;	;	PUNCT
afbr-403	207	7	2019	2019	NUM
afbr-403	207	8	11	11	NUM
afbr-403	207	9	extract	extract	VERB
afbr-403	207	10	maximum	maximum	ADJ
afbr-403	207	11	information	information	NOUN
afbr-403	207	12	from	from	ADP
afbr-403	207	13	the	the	DET
afbr-403	207	14	available	available	ADJ
afbr-403	207	15	data	datum	NOUN
afbr-403	207	16	.	.	PUNCT
afbr-403	208	1	the	the	DET
afbr-403	208	2	researcher	researcher	NOUN
afbr-403	208	3	’s	’s	PART
afbr-403	208	4	aim	aim	NOUN
afbr-403	208	5	in	in	ADP
afbr-403	208	6	this	this	DET
afbr-403	208	7	study	study	NOUN
afbr-403	208	8	is	be	AUX
afbr-403	208	9	to	to	PART
afbr-403	208	10	ascertain	ascertain	VERB
afbr-403	208	11	whether	whether	SCONJ
afbr-403	208	12	capital	capital	NOUN
afbr-403	208	13	structure	structure	NOUN
afbr-403	208	14	is	be	AUX
afbr-403	208	15	irrelevant	irrelevant	ADJ
afbr-403	208	16	in	in	ADP
afbr-403	208	17	nigeria	nigeria	PROPN
afbr-403	208	18	as	as	SCONJ
afbr-403	208	19	proposed	propose	VERB
afbr-403	208	20	by	by	ADP
afbr-403	208	21	miller	miller	PROPN
afbr-403	208	22	and	and	CCONJ
afbr-403	208	23	modigliani	modigliani	PROPN
afbr-403	208	24	in	in	ADP
afbr-403	208	25	1959	1959	NUM
afbr-403	208	26	.	.	PUNCT
afbr-403	209	1	sources	source	NOUN
afbr-403	209	2	of	of	ADP
afbr-403	209	3	data	datum	NOUN
afbr-403	209	4	collection	collection	NOUN
afbr-403	209	5	the	the	DET
afbr-403	209	6	study	study	NOUN
afbr-403	209	7	used	use	VERB
afbr-403	209	8	for	for	ADP
afbr-403	209	9	collecting	collect	VERB
afbr-403	209	10	data	datum	NOUN
afbr-403	209	11	for	for	ADP
afbr-403	209	12	this	this	DET
afbr-403	209	13	research	research	NOUN
afbr-403	209	14	is	be	AUX
afbr-403	209	15	the	the	DET
afbr-403	209	16	secondary	secondary	ADJ
afbr-403	209	17	source	source	NOUN
afbr-403	209	18	of	of	ADP
afbr-403	209	19	data	data	NOUN
afbr-403	209	20	collection	collection	NOUN
afbr-403	209	21	obtained	obtain	VERB
afbr-403	209	22	from	from	ADP
afbr-403	209	23	various	various	ADJ
afbr-403	209	24	issues	issue	NOUN
afbr-403	209	25	of	of	ADP
afbr-403	209	26	:	:	PUNCT
afbr-403	209	27	(	(	PUNCT
afbr-403	209	28	i	i	NOUN
afbr-403	209	29	)	)	PUNCT
afbr-403	209	30	nigerian	nigerian	ADJ
afbr-403	209	31	stock	stock	NOUN
afbr-403	209	32	exchange	exchange	PROPN
afbr-403	209	33	(	(	PUNCT
afbr-403	209	34	nse	nse	NOUN
afbr-403	209	35	)	)	PUNCT
afbr-403	209	36	annual	annual	ADJ
afbr-403	209	37	reports	report	NOUN
afbr-403	209	38	and	and	CCONJ
afbr-403	209	39	statement	statement	NOUN
afbr-403	209	40	of	of	ADP
afbr-403	209	41	accounts	account	NOUN
afbr-403	209	42	.	.	PUNCT
afbr-403	210	1	data	datum	NOUN
afbr-403	210	2	analysis	analysis	NOUN
afbr-403	210	3	instrument	instrument	NOUN
afbr-403	210	4	the	the	DET
afbr-403	210	5	study	study	NOUN
afbr-403	210	6	employed	employ	VERB
afbr-403	210	7	a	a	DET
afbr-403	210	8	panel	panel	NOUN
afbr-403	210	9	data	datum	NOUN
afbr-403	210	10	regression	regression	NOUN
afbr-403	210	11	analysis	analysis	NOUN
afbr-403	210	12	.	.	PUNCT
afbr-403	211	1	this	this	PRON
afbr-403	211	2	is	be	AUX
afbr-403	211	3	because	because	SCONJ
afbr-403	211	4	the	the	DET
afbr-403	211	5	data	datum	NOUN
afbr-403	211	6	set	set	VERB
afbr-403	211	7	consists	consist	NOUN
afbr-403	211	8	of	of	ADP
afbr-403	211	9	observations	observation	NOUN
afbr-403	211	10	of	of	ADP
afbr-403	211	11	multiple	multiple	ADJ
afbr-403	211	12	variables	variable	NOUN
afbr-403	211	13	over	over	ADP
afbr-403	211	14	multiple	multiple	ADJ
afbr-403	211	15	time	time	NOUN
afbr-403	211	16	periods	period	NOUN
afbr-403	211	17	.	.	PUNCT
afbr-403	212	1	thus	thus	ADV
afbr-403	212	2	panel	panel	NOUN
afbr-403	212	3	data	datum	NOUN
afbr-403	212	4	combines	combine	VERB
afbr-403	212	5	time	time	NOUN
afbr-403	212	6	series	series	NOUN
afbr-403	212	7	and	and	CCONJ
afbr-403	212	8	cross	cross	VERB
afbr-403	212	9	sectional	sectional	ADJ
afbr-403	212	10	data	datum	NOUN
afbr-403	212	11	.	.	PUNCT
afbr-403	213	1	it	it	PRON
afbr-403	213	2	allows	allow	VERB
afbr-403	213	3	the	the	DET
afbr-403	213	4	researcher	researcher	NOUN
afbr-403	213	5	the	the	DET
afbr-403	213	6	flexibility	flexibility	NOUN
afbr-403	213	7	in	in	ADP
afbr-403	213	8	modeling	model	VERB
afbr-403	213	9	differences	difference	NOUN
afbr-403	213	10	in	in	ADP
afbr-403	213	11	behaviour	behaviour	NOUN
afbr-403	213	12	across	across	ADP
afbr-403	213	13	individuals	individual	NOUN
afbr-403	213	14	firm	firm	ADJ
afbr-403	213	15	,	,	PUNCT
afbr-403	213	16	it	it	PRON
afbr-403	213	17	is	be	AUX
afbr-403	213	18	also	also	ADV
afbr-403	213	19	appropriate	appropriate	ADJ
afbr-403	213	20	for	for	ADP
afbr-403	213	21	this	this	DET
afbr-403	213	22	study	study	NOUN
afbr-403	213	23	because	because	SCONJ
afbr-403	213	24	of	of	ADP
afbr-403	213	25	its	its	PRON
afbr-403	213	26	ability	ability	NOUN
afbr-403	213	27	to	to	PART
afbr-403	213	28	take	take	VERB
afbr-403	213	29	into	into	ADP
afbr-403	213	30	account	account	NOUN
afbr-403	213	31	heterogeneity	heterogeneity	NOUN
afbr-403	213	32	problem	problem	NOUN
afbr-403	213	33	or	or	CCONJ
afbr-403	213	34	individual	individual	ADJ
afbr-403	213	35	effects	effect	NOUN
afbr-403	213	36	in	in	ADP
afbr-403	213	37	cross	cross	NOUN
afbr-403	213	38	sectional	sectional	ADJ
afbr-403	213	39	data	datum	NOUN
afbr-403	213	40	and	and	CCONJ
afbr-403	213	41	give	give	VERB
afbr-403	213	42	more	more	ADV
afbr-403	213	43	informative	informative	ADJ
afbr-403	213	44	data	datum	NOUN
afbr-403	213	45	.	.	PUNCT
afbr-403	214	1	the	the	DET
afbr-403	214	2	panel	panel	NOUN
afbr-403	214	3	regression	regression	NOUN
afbr-403	214	4	equation	equation	NOUN
afbr-403	214	5	is	be	AUX
afbr-403	214	6	different	different	ADJ
afbr-403	214	7	from	from	ADP
afbr-403	214	8	a	a	DET
afbr-403	214	9	regular	regular	ADJ
afbr-403	214	10	time	time	NOUN
afbr-403	214	11	-	-	PUNCT
afbr-403	214	12	series	series	NOUN
afbr-403	214	13	or	or	CCONJ
afbr-403	214	14	cross	cross	NOUN
afbr-403	214	15	section	section	NOUN
afbr-403	214	16	regression	regression	NOUN
afbr-403	214	17	by	by	ADP
afbr-403	214	18	the	the	DET
afbr-403	214	19	double	double	ADJ
afbr-403	214	20	subscript	subscript	NOUN
afbr-403	214	21	attached	attach	VERB
afbr-403	214	22	to	to	ADP
afbr-403	214	23	each	each	DET
afbr-403	214	24	variable	variable	NOUN
afbr-403	214	25	.	.	PUNCT
afbr-403	215	1	the	the	DET
afbr-403	215	2	general	general	ADJ
afbr-403	215	3	form	form	NOUN
afbr-403	215	4	of	of	ADP
afbr-403	215	5	the	the	DET
afbr-403	215	6	panel	panel	NOUN
afbr-403	215	7	data	datum	NOUN
afbr-403	215	8	model	model	NOUN
afbr-403	215	9	is	be	AUX
afbr-403	215	10	specified	specify	VERB
afbr-403	215	11	as	as	ADP
afbr-403	215	12	:	:	PUNCT
afbr-403	215	13	titii	titii	NOUN
afbr-403	215	14	xy	xy	PROPN
afbr-403	215	15	,	,	PUNCT
afbr-403	215	16	,	,	PUNCT
afbr-403	215	17	,	,	PUNCT
afbr-403	215	18			PROPN
afbr-403	215	19			PROPN
afbr-403	215	20	1	1	NUM
afbr-403	215	21	the	the	DET
afbr-403	215	22	subscript	subscript	NOUN
afbr-403	215	23	i	i	PRON
afbr-403	215	24	denotes	denote	VERB
afbr-403	215	25	the	the	DET
afbr-403	215	26	cross	cross	ADJ
afbr-403	215	27	-	-	ADJ
afbr-403	215	28	sectional	sectional	ADJ
afbr-403	215	29	dimension	dimension	NOUN
afbr-403	215	30	and	and	CCONJ
afbr-403	215	31	t	t	NOUN
afbr-403	215	32	represents	represent	VERB
afbr-403	215	33	the	the	DET
afbr-403	215	34	time	time	NOUN
afbr-403	215	35	-	-	PUNCT
afbr-403	215	36	series	series	NOUN
afbr-403	215	37	dimension	dimension	NOUN
afbr-403	215	38	.	.	PUNCT
afbr-403	216	1	the	the	DET
afbr-403	216	2	lefthand	lefthand	PROPN
afbr-403	216	3	variable	variable	NOUN
afbr-403	216	4	y	y	PROPN
afbr-403	216	5	represents	represent	VERB
afbr-403	216	6	the	the	DET
afbr-403	216	7	dependent	dependent	ADJ
afbr-403	216	8	variable	variable	NOUN
afbr-403	216	9	in	in	ADP
afbr-403	216	10	the	the	DET
afbr-403	216	11	model	model	NOUN
afbr-403	216	12	which	which	PRON
afbr-403	216	13	represents	represent	VERB
afbr-403	216	14	the	the	DET
afbr-403	216	15	value	value	NOUN
afbr-403	216	16	relevance	relevance	NOUN
afbr-403	216	17	of	of	ADP
afbr-403	216	18	firms	firm	NOUN
afbr-403	216	19	listed	list	VERB
afbr-403	216	20	on	on	ADP
afbr-403	216	21	the	the	DET
afbr-403	216	22	nigeria	nigeria	PROPN
afbr-403	216	23	stock	stock	PROPN
afbr-403	216	24	exchange	exchange	PROPN
afbr-403	216	25	,	,	PUNCT
afbr-403	216	26	x	x	PROPN
afbr-403	216	27	contains	contain	VERB
afbr-403	216	28	the	the	DET
afbr-403	216	29	set	set	NOUN
afbr-403	216	30	of	of	ADP
afbr-403	216	31	explanatory	explanatory	ADJ
afbr-403	216	32	variables	variable	NOUN
afbr-403	216	33	in	in	ADP
afbr-403	216	34	the	the	DET
afbr-403	216	35	estimation	estimation	NOUN
afbr-403	216	36	model	model	NOUN
afbr-403	216	37	,	,	PUNCT
afbr-403	216	38			X
afbr-403	216	39	and	and	CCONJ
afbr-403	216	40	is	be	AUX
afbr-403	216	41	taken	take	VERB
afbr-403	216	42	to	to	PART
afbr-403	216	43	be	be	AUX
afbr-403	216	44	constant	constant	ADJ
afbr-403	216	45	overtime	overtime	NOUN
afbr-403	216	46	t	t	NOUN
afbr-403	216	47	and	and	CCONJ
afbr-403	216	48	specific	specific	ADJ
afbr-403	216	49	to	to	ADP
afbr-403	216	50	the	the	DET
afbr-403	216	51	individual	individual	ADJ
afbr-403	216	52	cross	cross	ADJ
afbr-403	216	53	-	-	ADJ
afbr-403	216	54	sectional	sectional	ADJ
afbr-403	216	55	unit	unit	NOUN
afbr-403	216	56	model	model	NOUN
afbr-403	216	57	specification	specification	PROPN
afbr-403	216	58			PROPN
afbr-403	216	59	rerecrltdderfmv	rerecrltdderfmv	PROPN
afbr-403	216	60	,	,	PUNCT
afbr-403	216	61	,	,	PUNCT
afbr-403	216	62	,	,	PUNCT
afbr-403	216	63			PROPN
afbr-403	216	64	2	2	NUM
afbr-403	216	65	the	the	DET
afbr-403	216	66	regression	regression	NOUN
afbr-403	216	67	models	model	NOUN
afbr-403	216	68	are	be	AUX
afbr-403	216	69	thus	thus	ADV
afbr-403	216	70	formulated	formulate	VERB
afbr-403	216	71	as	as	ADP
afbr-403	216	72			PROPN
afbr-403	216	73			PROPN
afbr-403	216	74	iiii	iiii	PROPN
afbr-403	216	75	rerecrltdrdermv	rerecrltdrdermv	NOUN
afbr-403	216	76	432101	432101	NUM
afbr-403	216	77	3	3	NUM
afbr-403	216	78	where	where	SCONJ
afbr-403	216	79	mv	mv	PROPN
afbr-403	216	80	=	=	NOUN
afbr-403	216	81	market	market	NOUN
afbr-403	216	82	value	value	NOUN
afbr-403	216	83	proxy	proxy	NOUN
afbr-403	216	84	tobin	tobin	NOUN
afbr-403	216	85	q	q	PROPN
afbr-403	217	1	der=	der=	PROPN
afbr-403	217	2	debt	debt	NOUN
afbr-403	217	3	equity	equity	NOUN
afbr-403	217	4	ratio	ratio	NOUN
afbr-403	217	5	ltd=	ltd=	PROPN
afbr-403	217	6	long	long	ADJ
afbr-403	217	7	term	term	NOUN
afbr-403	217	8	debt	debt	NOUN
afbr-403	217	9	ratio	ratio	NOUN
afbr-403	217	10	ecr=	ecr=	PROPN
afbr-403	217	11	equity	equity	NOUN
afbr-403	217	12	capital	capital	NOUN
afbr-403	217	13	ratio	ratio	PROPN
afbr-403	217	14	rer=	rer=	PROPN
afbr-403	217	15	retained	retain	VERB
afbr-403	217	16	earnings	earning	NOUN
afbr-403	217	17	ratio	ratio	NOUN
afbr-403	217	18	method	method	NOUN
afbr-403	217	19	of	of	ADP
afbr-403	217	20	estimation	estimation	NOUN
afbr-403	217	21	and	and	CCONJ
afbr-403	217	22	testing	testing	NOUN
afbr-403	217	23	i.	i.	NOUN
afbr-403	217	24	"	"	PUNCT
afbr-403	217	25	panel	panel	NOUN
afbr-403	217	26	data	datum	NOUN
afbr-403	217	27	regression	regression	NOUN
afbr-403	217	28	model	model	NOUN
afbr-403	217	29	specifications	specification	NOUN
afbr-403	217	30	panel	panel	NOUN
afbr-403	217	31	data	datum	NOUN
afbr-403	217	32	can	can	AUX
afbr-403	217	33	be	be	AUX
afbr-403	217	34	estimated	estimate	VERB
afbr-403	217	35	and	and	CCONJ
afbr-403	217	36	analyzed	analyze	VERB
afbr-403	217	37	in	in	ADP
afbr-403	217	38	three	three	NUM
afbr-403	217	39	different	different	ADJ
afbr-403	217	40	specification	specification	NOUN
afbr-403	217	41	models	model	NOUN
afbr-403	217	42	.	.	PUNCT
afbr-403	218	1	these	these	PRON
afbr-403	218	2	are	be	AUX
afbr-403	218	3	the	the	DET
afbr-403	218	4	correlation	correlation	NOUN
afbr-403	218	5	matrices	matrice	VERB
afbr-403	218	6	the	the	DET
afbr-403	218	7	fixed	fixed	ADJ
afbr-403	218	8	effect	effect	NOUN
afbr-403	218	9	model	model	NOUN
afbr-403	218	10	(	(	PUNCT
afbr-403	218	11	fem	fem	NOUN
afbr-403	218	12	)	)	PUNCT
afbr-403	218	13	and	and	CCONJ
afbr-403	218	14	the	the	DET
afbr-403	218	15	random	random	ADJ
afbr-403	218	16	effect	effect	NOUN
afbr-403	218	17	model	model	NOUN
afbr-403	218	18	(	(	PUNCT
afbr-403	218	19	rem	rem	NOUN
afbr-403	218	20	)	)	PUNCT
afbr-403	218	21	.	.	PUNCT
afbr-403	219	1	in	in	ADP
afbr-403	219	2	this	this	DET
afbr-403	219	3	study	study	NOUN
afbr-403	219	4	the	the	DET
afbr-403	219	5	fixed	fix	VERB
afbr-403	219	6	effect	effect	NOUN
afbr-403	219	7	model	model	NOUN
afbr-403	219	8	is	be	AUX
afbr-403	219	9	chosen	choose	VERB
afbr-403	219	10	over	over	ADP
afbr-403	219	11	pooled	pool	VERB
afbr-403	219	12	ols	ol	NOUN
afbr-403	219	13	regression	regression	NOUN
afbr-403	219	14	because	because	SCONJ
afbr-403	219	15	of	of	ADP
afbr-403	219	16	the	the	DET
afbr-403	219	17	advantages	advantage	NOUN
afbr-403	219	18	the	the	DET
afbr-403	219	19	former	former	NOUN
afbr-403	219	20	has	have	VERB
afbr-403	219	21	over	over	ADP
afbr-403	219	22	the	the	DET
afbr-403	219	23	latter	latter	ADJ
afbr-403	219	24	.	.	PUNCT
afbr-403	220	1	ii	ii	PROPN
afbr-403	220	2	.	.	PROPN
afbr-403	220	3	pooled	pool	VERB
afbr-403	220	4	regression	regression	NOUN
afbr-403	220	5	model	model	NOUN
afbr-403	220	6	albrigim	albrigim	PROPN
afbr-403	220	7	zappe	zappe	PROPN
afbr-403	220	8	and	and	CCONJ
afbr-403	220	9	winston	winston	PROPN
afbr-403	220	10	(	(	PUNCT
afbr-403	220	11	2011	2011	NUM
afbr-403	220	12	)	)	PUNCT
afbr-403	220	13	stipulated	stipulate	VERB
afbr-403	220	14	that	that	SCONJ
afbr-403	220	15	the	the	DET
afbr-403	220	16	error	error	NOUN
afbr-403	220	17	term	term	NOUN
afbr-403	220	18	should	should	AUX
afbr-403	220	19	be	be	AUX
afbr-403	220	20	independently	independently	ADV
afbr-403	220	21	and	and	CCONJ
afbr-403	220	22	normally	normally	ADV
afbr-403	220	23	distributed	distribute	VERB
afbr-403	220	24	with	with	ADP
afbr-403	220	25	zero	zero	NUM
afbr-403	220	26	mean	mean	ADJ
afbr-403	220	27	and	and	CCONJ
afbr-403	220	28	constant	constant	ADJ
afbr-403	220	29	variance	variance	NOUN
afbr-403	220	30	and	and	CCONJ
afbr-403	220	31	more	more	ADV
afbr-403	220	32	importantly	importantly	ADV
afbr-403	220	33	must	must	AUX
afbr-403	220	34	not	not	PART
afbr-403	220	35	correlated	correlate	VERB
afbr-403	220	36	with	with	ADP
afbr-403	220	37	the	the	DET
afbr-403	220	38	independent	independent	ADJ
afbr-403	220	39	variables	variable	NOUN
afbr-403	220	40	pooled	pool	VERB
afbr-403	220	41	ols	ol	NOUN
afbr-403	220	42	linear	linear	ADJ
afbr-403	220	43	regression	regression	NOUN
afbr-403	220	44	is	be	AUX
afbr-403	220	45	given	give	VERB
afbr-403	220	46	as	as	SCONJ
afbr-403	220	47	follows	follow	VERB
afbr-403	220	48	:	:	PUNCT
afbr-403	221	1	itititititit	itititititit	PROPN
afbr-403	221	2	uxxxxy	uxxxxy	PROPN
afbr-403	221	3			PROPN
afbr-403	221	4	544322110	544322110	NUM
afbr-403	221	5			X
afbr-403	221	6	4	4	NUM
afbr-403	221	7	where	where	SCONJ
afbr-403	221	8	yitis	yitis	PROPN
afbr-403	221	9	the	the	DET
afbr-403	221	10	dependent	dependent	ADJ
afbr-403	221	11	variable	variable	NOUN
afbr-403	221	12	;	;	PUNCT
afbr-403	221	13	0	0	NOUN
afbr-403	221	14	is	be	AUX
afbr-403	221	15	a	a	DET
afbr-403	221	16	constant	constant	ADJ
afbr-403	221	17	term	term	NOUN
afbr-403	221	18	:	:	PUNCT
afbr-403	221	19	x1	x1	NUM
afbr-403	221	20	,	,	PUNCT
afbr-403	221	21	to	to	ADP
afbr-403	221	22	x5	x5	PROPN
afbr-403	221	23	,	,	PUNCT
afbr-403	221	24	are	be	AUX
afbr-403	221	25	the	the	DET
afbr-403	221	26	independent	independent	ADJ
afbr-403	221	27	variables	variable	NOUN
afbr-403	221	28	;	;	PUNCT
afbr-403	221	29	41	41	NUM
afbr-403	221	30			NOUN
afbr-403	221	31	to	to	PART
afbr-403	221	32	are	are	VERB
afbr-403	221	33	slope	slope	NOUN
afbr-403	221	34	parameters	parameter	NOUN
afbr-403	221	35	:	:	PUNCT
afbr-403	221	36	i	i	PRON
afbr-403	221	37	...	...	PUNCT
afbr-403	221	38	n	n	PROPN
afbr-403	221	39	refers	refer	VERB
afbr-403	221	40	to	to	ADP
afbr-403	221	41	the	the	DET
afbr-403	221	42	cross	cross	ADJ
afbr-403	221	43	-	-	ADJ
afbr-403	221	44	sectional	sectional	ADJ
afbr-403	221	45	units	unit	NOUN
afbr-403	221	46	and	and	CCONJ
afbr-403	221	47	t	t	PROPN
afbr-403	221	48	is	be	AUX
afbr-403	221	49	the	the	DET
afbr-403	221	50	time	time	NOUN
afbr-403	221	51	period	period	NOUN
afbr-403	221	52	.	.	PUNCT
afbr-403	222	1	ii	ii	X
afbr-403	222	2	.	.	PUNCT
afbr-403	223	1	the	the	DET
afbr-403	223	2	fixed	fix	VERB
afbr-403	223	3	effect	effect	NOUN
afbr-403	223	4	model	model	NOUN
afbr-403	223	5	the	the	DET
afbr-403	223	6	fixed	fix	VERB
afbr-403	223	7	model	model	NOUN
afbr-403	223	8	can	can	AUX
afbr-403	223	9	be	be	AUX
afbr-403	223	10	specified	specify	VERB
afbr-403	223	11	as	as	ADP
afbr-403	223	12	copyright	copyright	NOUN
afbr-403	223	13	©	©	PROPN
afbr-403	223	14	cc	cc	NOUN
afbr-403	223	15	-	-	PUNCT
afbr-403	223	16	by	by	ADP
afbr-403	223	17	-	-	PUNCT
afbr-403	223	18	nc	nc	PROPN
afbr-403	223	19	2019	2019	NUM
afbr-403	223	20	,	,	PUNCT
afbr-403	223	21	cribfb	cribfb	PROPN
afbr-403	223	22	|	|	ADV
afbr-403	223	23	afbr	afbr	PROPN
afbr-403	223	24	www.cribfb.com/journal/index.php/afbr	www.cribfb.com/journal/index.php/afbr	ADJ
afbr-403	223	25	australian	australian	ADJ
afbr-403	223	26	finance	finance	PROPN
afbr-403	223	27	&	&	CCONJ
afbr-403	223	28	banking	banking	PROPN
afbr-403	223	29	review	review	PROPN
afbr-403	223	30	vol	vol	NOUN
afbr-403	223	31	.	.	PROPN
afbr-403	224	1	3	3	NUM
afbr-403	224	2	,	,	PUNCT
afbr-403	224	3	no	no	INTJ
afbr-403	224	4	.	.	NOUN
afbr-403	224	5	2	2	NUM
afbr-403	224	6	;	;	PUNCT
afbr-403	224	7	2019	2019	NUM
afbr-403	224	8	12	12	NUM
afbr-403	224	9	itititititiit	itititititiit	NOUN
afbr-403	224	10	uxxxxy	uxxxxy	PROPN
afbr-403	224	11			VERB
afbr-403	224	12	43211	43211	NUM
afbr-403	225	1			ADV
afbr-403	225	2	5	5	NUM
afbr-403	225	3	where	where	SCONJ
afbr-403	225	4	i	i	PRON
afbr-403	225	5	in	in	ADP
afbr-403	225	6	refers	refer	VERB
afbr-403	225	7	to	to	ADP
afbr-403	225	8	the	the	DET
afbr-403	225	9	cross	cross	ADJ
afbr-403	225	10	-	-	ADJ
afbr-403	225	11	sectional	sectional	ADJ
afbr-403	225	12	units	unit	NOUN
afbr-403	225	13	representing	represent	VERB
afbr-403	225	14	the	the	DET
afbr-403	225	15	intercept	intercept	NOUN
afbr-403	225	16	value	value	NOUN
afbr-403	225	17	for	for	ADP
afbr-403	225	18	each	each	DET
afbr-403	225	19	cross	cross	ADJ
afbr-403	225	20	-	-	ADJ
afbr-403	225	21	sectional	sectional	ADJ
afbr-403	225	22	unit	unit	NOUN
afbr-403	225	23	.	.	PUNCT
afbr-403	226	1	a	a	DET
afbr-403	226	2	-	-	PUNCT
afbr-403	226	3	priori	priori	ADJ
afbr-403	226	4	expectation	expectation	NOUN
afbr-403	226	5	base	base	NOUN
afbr-403	226	6	on	on	ADP
afbr-403	226	7	theories	theory	NOUN
afbr-403	226	8	such	such	ADJ
afbr-403	226	9	as	as	ADP
afbr-403	226	10	market	market	NOUN
afbr-403	226	11	efficiency	efficiency	NOUN
afbr-403	226	12	theory	theory	NOUN
afbr-403	226	13	and	and	CCONJ
afbr-403	226	14	empirical	empirical	ADJ
afbr-403	226	15	results	result	NOUN
afbr-403	226	16	examined	examine	VERB
afbr-403	226	17	in	in	ADP
afbr-403	226	18	this	this	DET
afbr-403	226	19	study	study	NOUN
afbr-403	226	20	,	,	PUNCT
afbr-403	226	21	the	the	DET
afbr-403	226	22	variables	variable	NOUN
afbr-403	226	23	are	be	AUX
afbr-403	226	24	expected	expect	VERB
afbr-403	226	25	to	to	PART
afbr-403	226	26	have	have	VERB
afbr-403	226	27	a	a	DET
afbr-403	226	28	positive	positive	ADJ
afbr-403	226	29	effect	effect	NOUN
afbr-403	226	30	on	on	ADP
afbr-403	226	31	the	the	DET
afbr-403	226	32	dependent	dependent	ADJ
afbr-403	226	33	variables	variable	NOUN
afbr-403	226	34	.	.	PUNCT
afbr-403	227	1	the	the	DET
afbr-403	227	2	mathematical	mathematical	ADJ
afbr-403	227	3	implication	implication	NOUN
afbr-403	227	4	is	be	AUX
afbr-403	227	5	stated	state	VERB
afbr-403	227	6	as	as	SCONJ
afbr-403	227	7	follows	follow	VERB
afbr-403	227	8	"	"	PUNCT
afbr-403	227	9	:	:	PUNCT
afbr-403	227	10	1	1	NUM
afbr-403	227	11	>	>	X
afbr-403	227	12	1	1	PROPN
afbr-403	227	13	>	>	X
afbr-403	227	14	1	1	PROPN
afbr-403	227	15	>	>	X
afbr-403	227	16	1	1	PROPN
afbr-403	227	17	>	>	SYM
afbr-403	227	18	0	0	NUM
afbr-403	227	19	reject	reject	VERB
afbr-403	227	20	mm	mm	PROPN
afbr-403	227	21	hypothesis	hypothesis	NOUN
afbr-403	227	22	1	1	PROPN
afbr-403	227	23	<	<	X
afbr-403	227	24	1	1	PROPN
afbr-403	227	25	<	<	X
afbr-403	227	26	1	1	PROPN
afbr-403	227	27	<	<	X
afbr-403	227	28	1	1	PROPN
afbr-403	227	29	>	>	SYM
afbr-403	227	30	0	0	NUM
afbr-403	227	31	accept	accept	VERB
afbr-403	227	32	mm	mm	PROPN
afbr-403	227	33	hypothesis	hypothesis	NOUN
afbr-403	227	34	1	1	NUM
afbr-403	227	35	t	t	NOUN
afbr-403	227	36	>	>	X
afbr-403	227	37	1	1	NUM
afbr-403	227	38	t	t	X
afbr-403	227	39	>	>	X
afbr-403	227	40	1	1	NUM
afbr-403	227	41	t	t	X
afbr-403	227	42	>	>	X
afbr-403	227	43	1	1	NUM
afbr-403	227	44	t	t	NOUN
afbr-403	227	45	>	>	SYM
afbr-403	227	46	0	0	NUM
afbr-403	227	47	reject	reject	VERB
afbr-403	227	48	mm	mm	PROPN
afbr-403	227	49	hypothesis	hypothesis	NOUN
afbr-403	227	50	1	1	NUM
afbr-403	227	51	t	t	NOUN
afbr-403	227	52	<	<	X
afbr-403	227	53	1	1	NUM
afbr-403	227	54	t	t	NOUN
afbr-403	227	55	>	>	X
afbr-403	227	56	1	1	NUM
afbr-403	227	57	t	t	X
afbr-403	227	58	>	>	X
afbr-403	227	59	1	1	NUM
afbr-403	227	60	t	t	NOUN
afbr-403	227	61	>	>	SYM
afbr-403	227	62	0	0	NUM
afbr-403	227	63	accept	accept	VERB
afbr-403	227	64	mm	mm	PROPN
afbr-403	227	65	hypothesis	hypothesis	NOUN
afbr-403	227	66	4	4	NUM
afbr-403	227	67	.	.	PUNCT
afbr-403	227	68	analysis	analysis	NOUN
afbr-403	227	69	and	and	CCONJ
afbr-403	227	70	discussion	discussion	NOUN
afbr-403	227	71	of	of	ADP
afbr-403	227	72	findings	finding	NOUN
afbr-403	227	73	the	the	DET
afbr-403	227	74	objective	objective	NOUN
afbr-403	227	75	of	of	ADP
afbr-403	227	76	the	the	DET
afbr-403	227	77	study	study	NOUN
afbr-403	227	78	as	as	SCONJ
afbr-403	227	79	earlier	early	ADV
afbr-403	227	80	stated	state	VERB
afbr-403	227	81	was	be	AUX
afbr-403	227	82	to	to	ADP
afbr-403	227	83	the	the	DET
afbr-403	227	84	validity	validity	NOUN
afbr-403	227	85	of	of	ADP
afbr-403	227	86	mm	mm	PROPN
afbr-403	227	87	capital	capital	NOUN
afbr-403	227	88	structure	structure	NOUN
afbr-403	227	89	irrelevant	irrelevant	ADJ
afbr-403	227	90	hypothesis	hypothesis	NOUN
afbr-403	227	91	in	in	ADP
afbr-403	227	92	among	among	ADP
afbr-403	227	93	nigeria	nigeria	PROPN
afbr-403	227	94	quoted	quote	VERB
afbr-403	227	95	manufacturing	manufacturing	NOUN
afbr-403	227	96	firms	firm	NOUN
afbr-403	227	97	.	.	PUNCT
afbr-403	228	1	table	table	NOUN
afbr-403	228	2	1	1	NUM
afbr-403	228	3	"	"	PUNCT
afbr-403	228	4	random	random	ADJ
afbr-403	228	5	effect	effect	NOUN
afbr-403	228	6	versus	versus	ADP
afbr-403	228	7	fixed	fix	VERB
afbr-403	228	8	effect	effect	NOUN
afbr-403	228	9	models	model	NOUN
afbr-403	228	10	redundant	redundant	VERB
afbr-403	228	11	fixed	fix	VERB
afbr-403	228	12	effects	effect	NOUN
afbr-403	228	13	tests	test	VERB
afbr-403	228	14	effects	effect	NOUN
afbr-403	228	15	test	test	NOUN
afbr-403	228	16	statistic	statistic	PROPN
afbr-403	228	17	d.f	d.f	PROPN
afbr-403	228	18	.	.	PROPN
afbr-403	228	19	prob	prob	PROPN
afbr-403	228	20	.	.	PUNCT
afbr-403	229	1	cross	cross	NOUN
afbr-403	229	2	-	-	NOUN
afbr-403	229	3	section	section	ADJ
afbr-403	229	4	f	f	PROPN
afbr-403	229	5	2.745830	2.745830	NUM
afbr-403	229	6	(	(	PUNCT
afbr-403	229	7	14,70	14,70	NOUN
afbr-403	229	8	)	)	PUNCT
afbr-403	229	9	0.0028	0.0028	NUM
afbr-403	229	10	cross	cross	ADJ
afbr-403	229	11	-	-	NOUN
afbr-403	229	12	section	section	ADJ
afbr-403	229	13	chi	chi	ADJ
afbr-403	229	14	-	-	PUNCT
afbr-403	229	15	square	square	ADJ
afbr-403	229	16	38.956792	38.956792	NUM
afbr-403	229	17	14	14	NUM
afbr-403	229	18	0.0004	0.0004	NUM
afbr-403	229	19	correlated	correlate	VERB
afbr-403	229	20	random	random	ADJ
afbr-403	229	21	effects	effect	NOUN
afbr-403	229	22	hausman	hausman	PROPN
afbr-403	229	23	test	test	NOUN
afbr-403	229	24	test	test	NOUN
afbr-403	229	25	summary	summary	NOUN
afbr-403	229	26	chi	chi	PROPN
afbr-403	229	27	-	-	PUNCT
afbr-403	229	28	sq	sq	PROPN
afbr-403	229	29	.	.	PROPN
afbr-403	229	30	statistic	statistic	ADJ
afbr-403	229	31	chi	chi	PROPN
afbr-403	229	32	-	-	PUNCT
afbr-403	229	33	sq	sq	PROPN
afbr-403	229	34	.	.	PUNCT
afbr-403	229	35	d.f	d.f	PROPN
afbr-403	229	36	.	.	PROPN
afbr-403	229	37	prob	prob	PROPN
afbr-403	229	38	.	.	PUNCT
afbr-403	230	1	cross	cross	ADJ
afbr-403	230	2	-	-	ADJ
afbr-403	230	3	section	section	ADJ
afbr-403	230	4	random	random	ADJ
afbr-403	230	5	7.593197	7.593197	NUM
afbr-403	230	6	4	4	NUM
afbr-403	230	7	0.0077	0.0077	NUM
afbr-403	230	8	source	source	NOUN
afbr-403	230	9	:	:	PUNCT
afbr-403	230	10	computed	compute	VERB
afbr-403	230	11	from	from	ADP
afbr-403	230	12	e	e	NOUN
afbr-403	230	13	-	-	NOUN
afbr-403	230	14	view	view	ADJ
afbr-403	230	15	output	output	NOUN
afbr-403	230	16	regression	regression	NOUN
afbr-403	230	17	results	result	VERB
afbr-403	230	18	the	the	DET
afbr-403	230	19	table	table	NOUN
afbr-403	230	20	below	below	ADV
afbr-403	230	21	has	have	VERB
afbr-403	230	22	detail	detail	NOUN
afbr-403	230	23	of	of	ADP
afbr-403	230	24	the	the	DET
afbr-403	230	25	regression	regression	NOUN
afbr-403	230	26	results	result	NOUN
afbr-403	230	27	for	for	ADP
afbr-403	230	28	the	the	DET
afbr-403	230	29	study	study	NOUN
afbr-403	230	30	.	.	PUNCT
afbr-403	231	1	table	table	NOUN
afbr-403	231	2	2	2	NUM
afbr-403	231	3	:	:	PUNCT
afbr-403	231	4	presentation	presentation	NOUN
afbr-403	231	5	of	of	ADP
afbr-403	231	6	regression	regression	NOUN
afbr-403	231	7	results	result	VERB
afbr-403	231	8	variable	variable	ADJ
afbr-403	231	9	coefficient	coefficient	NOUN
afbr-403	231	10	std	std	NOUN
afbr-403	231	11	.	.	NOUN
afbr-403	231	12	error	error	NOUN
afbr-403	231	13	t	t	NOUN
afbr-403	231	14	-	-	PUNCT
afbr-403	231	15	statistic	statistic	NOUN
afbr-403	231	16	prob	prob	NOUN
afbr-403	231	17	.	.	PUNCT
afbr-403	232	1	fixed	fix	VERB
afbr-403	232	2	effect	effect	NOUN
afbr-403	232	3	model	model	NOUN
afbr-403	232	4	der	der	NOUN
afbr-403	232	5	5.404256	5.404256	NUM
afbr-403	232	6	8.785037	8.785037	NUM
afbr-403	232	7	3.845004	3.845004	NUM
afbr-403	232	8	0.0010	0.0010	NUM
afbr-403	232	9	ltd	ltd	PROPN
afbr-403	232	10	4.114058	4.114058	NUM
afbr-403	232	11	6.536689	6.536689	NUM
afbr-403	232	12	2.101652	2.101652	NUM
afbr-403	232	13	0.0392	0.0392	NUM
afbr-403	232	14	ecr	ecr	X
afbr-403	232	15	3.97e-05	3.97e-05	NUM
afbr-403	232	16	6.789103	6.789103	NUM
afbr-403	232	17	3.770943	3.770943	NUM
afbr-403	232	18	0.0433	0.0433	NUM
afbr-403	232	19	rer	rer	X
afbr-403	232	20	4.567476	4.567476	NUM
afbr-403	232	21	4.016006	4.016006	NUM
afbr-403	232	22	1.244798	1.244798	NUM
afbr-403	232	23	0.0174	0.0174	NUM
afbr-403	232	24	c	c	NOUN
afbr-403	232	25	1.112783	1.112783	NUM
afbr-403	232	26	4.431482	4.431482	NUM
afbr-403	232	27	2.578978	2.578978	NUM
afbr-403	232	28	0.0120	0.0120	NUM
afbr-403	232	29	effects	effect	NOUN
afbr-403	232	30	specification	specification	NOUN
afbr-403	232	31	cross	cross	ADJ
afbr-403	232	32	-	-	ADJ
afbr-403	232	33	section	section	NOUN
afbr-403	232	34	fixed	fix	VERB
afbr-403	232	35	(	(	PUNCT
afbr-403	232	36	dummy	dummy	ADJ
afbr-403	232	37	variables	variable	NOUN
afbr-403	232	38	)	)	PUNCT
afbr-403	232	39	r	r	X
afbr-403	232	40	-	-	PUNCT
afbr-403	232	41	squared	square	VERB
afbr-403	232	42	0.770126	0.770126	NUM
afbr-403	232	43	mean	mean	NOUN
afbr-403	232	44	dependent	dependent	ADJ
afbr-403	232	45	var	var	NOUN
afbr-403	232	46	0.715629	0.715629	NUM
afbr-403	232	47	adjusted	adjust	VERB
afbr-403	232	48	r	r	NOUN
afbr-403	232	49	-	-	PUNCT
afbr-403	232	50	squared	square	VERB
afbr-403	232	51	0.508158	0.508158	NUM
afbr-403	232	52	s.d	s.d	PROPN
afbr-403	232	53	.	.	PUNCT
afbr-403	232	54	dependent	dependent	ADJ
afbr-403	232	55	var	var	NOUN
afbr-403	232	56	0.417724	0.417724	NUM
afbr-403	232	57	s.e	s.e	PROPN
afbr-403	232	58	.	.	PROPN
afbr-403	232	59	of	of	ADP
afbr-403	232	60	regression	regression	NOUN
afbr-403	232	61	0.371714	0.371714	NUM
afbr-403	232	62	akaike	akaike	ADJ
afbr-403	232	63	info	info	NOUN
afbr-403	232	64	criterion	criterion	NOUN
afbr-403	232	65	1.045440	1.045440	NUM
afbr-403	232	66	sum	sum	NOUN
afbr-403	232	67	squared	square	VERB
afbr-403	232	68	resid	resid	NOUN
afbr-403	232	69	9.671980	9.671980	NUM
afbr-403	232	70	schwarz	schwarz	NOUN
afbr-403	232	71	criterion	criterion	NOUN
afbr-403	232	72	1.576722	1.576722	NUM
afbr-403	232	73	log	log	NOUN
afbr-403	232	74	likelihood	likelihood	NOUN
afbr-403	232	75	-27.52208	-27.52208	PUNCT
afbr-403	232	76	hannan	hannan	PROPN
afbr-403	232	77	-	-	PUNCT
afbr-403	232	78	quinn	quinn	PROPN
afbr-403	232	79	criter	criter	NOUN
afbr-403	232	80	.	.	PUNCT
afbr-403	233	1	1.259585	1.259585	NUM
afbr-403	233	2	f	f	X
afbr-403	233	3	-	-	PUNCT
afbr-403	233	4	statistic	statistic	ADJ
afbr-403	233	5	2.285185	2.285185	NUM
afbr-403	233	6	durbin	durbin	ADJ
afbr-403	233	7	-	-	PUNCT
afbr-403	233	8	watson	watson	NOUN
afbr-403	233	9	stat	stat	PROPN
afbr-403	233	10	2.386338	2.386338	NUM
afbr-403	233	11	prob(f	prob(f	NOUN
afbr-403	233	12	-	-	PUNCT
afbr-403	233	13	statistic	statistic	NOUN
afbr-403	233	14	)	)	PUNCT
afbr-403	234	1	0.007412	0.007412	NUM
afbr-403	234	2	copyright	copyright	NOUN
afbr-403	234	3	©	©	PROPN
afbr-403	234	4	cc	cc	PROPN
afbr-403	234	5	-	-	PUNCT
afbr-403	234	6	by	by	ADP
afbr-403	234	7	-	-	PUNCT
afbr-403	234	8	nc	nc	PROPN
afbr-403	234	9	2019	2019	NUM
afbr-403	234	10	,	,	PUNCT
afbr-403	234	11	cribfb	cribfb	PROPN
afbr-403	234	12	|	|	ADV
afbr-403	234	13	afbr	afbr	PROPN
afbr-403	234	14	www.cribfb.com/journal/index.php/afbr	www.cribfb.com/journal/index.php/afbr	ADJ
afbr-403	234	15	australian	australian	ADJ
afbr-403	234	16	finance	finance	PROPN
afbr-403	234	17	&	&	CCONJ
afbr-403	234	18	banking	banking	PROPN
afbr-403	234	19	review	review	PROPN
afbr-403	234	20	vol	vol	NOUN
afbr-403	234	21	.	.	PROPN
afbr-403	235	1	3	3	NUM
afbr-403	235	2	,	,	PUNCT
afbr-403	235	3	no	no	INTJ
afbr-403	235	4	.	.	NOUN
afbr-403	235	5	2	2	NUM
afbr-403	235	6	;	;	PUNCT
afbr-403	235	7	2019	2019	NUM
afbr-403	235	8	13	13	NUM
afbr-403	235	9	random	random	ADJ
afbr-403	235	10	effect	effect	NOUN
afbr-403	235	11	model	model	NOUN
afbr-403	235	12	variable	variable	ADJ
afbr-403	235	13	coefficient	coefficient	NOUN
afbr-403	235	14	std	std	PROPN
afbr-403	235	15	.	.	NOUN
afbr-403	235	16	error	error	NOUN
afbr-403	235	17	t	t	NOUN
afbr-403	235	18	-	-	PUNCT
afbr-403	235	19	statistic	statistic	NOUN
afbr-403	235	20	prob	prob	NOUN
afbr-403	235	21	.	.	PUNCT
afbr-403	236	1	der	der	NOUN
afbr-403	236	2	-4.391873	-4.391873	VERB
afbr-403	236	3	2.424867	2.424867	NUM
afbr-403	236	4	-2.179422	-2.179422	NOUN
afbr-403	236	5	0.0280	0.0280	NUM
afbr-403	236	6	ltd	ltd	PROPN
afbr-403	236	7	4.859817	4.859817	NUM
afbr-403	236	8	4.856175	4.856175	NUM
afbr-403	236	9	2.589808	2.589808	NUM
afbr-403	236	10	0.0156	0.0156	NUM
afbr-403	236	11	ecr	ecr	VERB
afbr-403	236	12	9.209705	9.209705	NUM
afbr-403	236	13	9.948605	9.948605	NUM
afbr-403	236	14	4.924922	4.924922	NUM
afbr-403	236	15	0.0077	0.0077	NUM
afbr-403	236	16	rer	rer	X
afbr-403	236	17	5.054671	5.054671	NUM
afbr-403	236	18	4.235692	4.235692	NUM
afbr-403	236	19	3.820656	3.820656	NUM
afbr-403	236	20	0.0142	0.0142	NUM
afbr-403	236	21	c	c	PROPN
afbr-403	236	22	4.912649	4.912649	NUM
afbr-403	236	23	8.407194	8.407194	NUM
afbr-403	236	24	2.241314	2.241314	NUM
afbr-403	236	25	0.0276	0.0276	NUM
afbr-403	236	26	effects	effect	NOUN
afbr-403	236	27	specification	specification	PROPN
afbr-403	236	28	s.d	s.d	PROPN
afbr-403	236	29	.	.	PROPN
afbr-403	236	30	rho	rho	PROPN
afbr-403	236	31	cross	cross	ADJ
afbr-403	236	32	-	-	ADJ
afbr-403	236	33	section	section	ADJ
afbr-403	236	34	random	random	ADJ
afbr-403	236	35	0.174110	0.174110	NUM
afbr-403	236	36	0.0099	0.0099	NUM
afbr-403	236	37	idiosyncratic	idiosyncratic	ADJ
afbr-403	236	38	random	random	ADJ
afbr-403	236	39	0.371714	0.371714	NUM
afbr-403	236	40	0.0001	0.0001	NUM
afbr-403	236	41	weighted	weight	VERB
afbr-403	236	42	statistics	statistic	NOUN
afbr-403	236	43	r	r	NOUN
afbr-403	236	44	-	-	PUNCT
afbr-403	236	45	squared	square	VERB
afbr-403	236	46	0.639380	0.639380	NUM
afbr-403	236	47	mean	mean	NOUN
afbr-403	236	48	dependent	dependent	ADJ
afbr-403	236	49	var	var	NOUN
afbr-403	236	50	0.471406	0.471406	NUM
afbr-403	236	51	adjusted	adjust	VERB
afbr-403	236	52	r	r	NOUN
afbr-403	236	53	-	-	PUNCT
afbr-403	236	54	squared	square	VERB
afbr-403	236	55	0.416364	0.416364	NUM
afbr-403	236	56	s.d	s.d	PROPN
afbr-403	236	57	.	.	PUNCT
afbr-403	237	1	dependent	dependent	ADJ
afbr-403	237	2	var	var	NOUN
afbr-403	237	3	0.378087	0.378087	NUM
afbr-403	237	4	s.e	s.e	PROPN
afbr-403	237	5	.	.	PROPN
afbr-403	237	6	of	of	ADP
afbr-403	237	7	regression	regression	NOUN
afbr-403	237	8	0.379436	0.379436	NUM
afbr-403	237	9	sum	sum	NOUN
afbr-403	237	10	squared	square	VERB
afbr-403	237	11	resid	resid	NOUN
afbr-403	237	12	12.09359	12.09359	NUM
afbr-403	237	13	f	f	X
afbr-403	237	14	-	-	PUNCT
afbr-403	237	15	statistic	statistic	ADJ
afbr-403	237	16	3.860877	3.860877	NUM
afbr-403	237	17	durbin	durbin	ADJ
afbr-403	237	18	-	-	PUNCT
afbr-403	237	19	watson	watson	NOUN
afbr-403	237	20	stat	stat	NOUN
afbr-403	237	21	1.956302	1.956302	NUM
afbr-403	237	22	prob(f	prob(f	NOUN
afbr-403	237	23	-	-	PUNCT
afbr-403	237	24	statistic	statistic	NOUN
afbr-403	237	25	)	)	PUNCT
afbr-403	237	26	0.000981	0.000981	NUM
afbr-403	237	27	unweighted	unweighted	ADJ
afbr-403	237	28	statistics	statistic	NOUN
afbr-403	237	29	r	r	NOUN
afbr-403	237	30	-	-	PUNCT
afbr-403	237	31	squared	square	VERB
afbr-403	237	32	0.614596	0.614596	NUM
afbr-403	237	33	mean	mean	NOUN
afbr-403	237	34	dependent	dependent	ADJ
afbr-403	237	35	var	var	NOUN
afbr-403	237	36	0.715629	0.715629	NUM
afbr-403	237	37	sum	sum	NOUN
afbr-403	237	38	squared	square	VERB
afbr-403	237	39	resid	resid	NOUN
afbr-403	237	40	15.13129	15.13129	NUM
afbr-403	237	41	durbin	durbin	ADJ
afbr-403	237	42	-	-	PUNCT
afbr-403	237	43	watson	watson	NOUN
afbr-403	237	44	stat	stat	PROPN
afbr-403	237	45	1.612342	1.612342	NUM
afbr-403	237	46	source	source	NOUN
afbr-403	237	47	:	:	PUNCT
afbr-403	237	48	computed	compute	VERB
afbr-403	237	49	from	from	ADP
afbr-403	237	50	e	e	NOUN
afbr-403	237	51	-	-	NOUN
afbr-403	237	52	view	view	ADJ
afbr-403	237	53	output	output	NOUN
afbr-403	237	54	"	"	PUNCT
afbr-403	237	55	discussion	discussion	NOUN
afbr-403	237	56	of	of	ADP
afbr-403	237	57	findings	finding	NOUN
afbr-403	237	58	the	the	DET
afbr-403	237	59	"	"	PUNCT
afbr-403	237	60	hausman	hausman	ADJ
afbr-403	237	61	test	test	NOUN
afbr-403	237	62	tests	test	VERB
afbr-403	237	63	the	the	DET
afbr-403	237	64	null	null	ADJ
afbr-403	237	65	hypothesis	hypothesis	NOUN
afbr-403	237	66	that	that	PRON
afbr-403	237	67	the	the	DET
afbr-403	237	68	coefficients	coefficient	NOUN
afbr-403	237	69	which	which	PRON
afbr-403	237	70	are	be	AUX
afbr-403	237	71	estimated	estimate	VERB
afbr-403	237	72	by	by	ADP
afbr-403	237	73	the	the	DET
afbr-403	237	74	efficient	efficient	ADJ
afbr-403	237	75	random	random	ADJ
afbr-403	237	76	effects	effect	NOUN
afbr-403	237	77	estimator	estimator	NOUN
afbr-403	237	78	are	be	AUX
afbr-403	237	79	the	the	DET
afbr-403	237	80	same	same	ADJ
afbr-403	237	81	as	as	ADP
afbr-403	237	82	the	the	DET
afbr-403	237	83	ones	one	NOUN
afbr-403	237	84	estimated	estimate	VERB
afbr-403	237	85	by	by	ADP
afbr-403	237	86	the	the	DET
afbr-403	237	87	consistent	consistent	ADJ
afbr-403	237	88	fixed	fix	VERB
afbr-403	237	89	effects	effect	NOUN
afbr-403	237	90	estimator	estimator	NOUN
afbr-403	237	91	.	.	PUNCT
afbr-403	238	1	therefore	therefore	ADV
afbr-403	238	2	,	,	PUNCT
afbr-403	238	3	this	this	PRON
afbr-403	238	4	includes	include	VERB
afbr-403	238	5	insignificant	insignificant	ADJ
afbr-403	238	6	p	p	NOUN
afbr-403	238	7	-	-	PUNCT
afbr-403	238	8	value	value	NOUN
afbr-403	238	9	,	,	PUNCT
afbr-403	238	10	prob	prob	NOUN
afbr-403	238	11	>	>	X
afbr-403	238	12	chi2	chi2	NOUN
afbr-403	238	13	larger	large	ADJ
afbr-403	238	14	than	than	ADP
afbr-403	238	15	0.05	0.05	NUM
afbr-403	238	16	,	,	PUNCT
afbr-403	238	17	the	the	DET
afbr-403	238	18	null	null	NOUN
afbr-403	238	19	is	be	AUX
afbr-403	238	20	more	more	ADV
afbr-403	238	21	suitable	suitable	ADJ
afbr-403	238	22	to	to	PART
afbr-403	238	23	use	use	VERB
afbr-403	238	24	random	random	ADJ
afbr-403	238	25	effects	effect	NOUN
afbr-403	238	26	.	.	PUNCT
afbr-403	239	1	according	accord	VERB
afbr-403	239	2	to	to	ADP
afbr-403	239	3	above	above	ADP
afbr-403	239	4	table	table	NOUN
afbr-403	239	5	shows	show	VERB
afbr-403	239	6	hausman	hausman	PROPN
afbr-403	239	7	specification	specification	PROPN
afbr-403	239	8	test	test	NOUN
afbr-403	239	9	the	the	DET
afbr-403	239	10	model	model	NOUN
afbr-403	239	11	has	have	VERB
afbr-403	239	12	the	the	DET
afbr-403	239	13	value	value	NOUN
afbr-403	239	14	of	of	ADP
afbr-403	239	15	p=0.0009	p=0.0009	NOUN
afbr-403	239	16	for	for	ADP
afbr-403	239	17	the	the	DET
afbr-403	239	18	regression	regression	NOUN
afbr-403	239	19	model	model	NOUN
afbr-403	239	20	of	of	ADP
afbr-403	239	21	dependent	dependent	ADJ
afbr-403	239	22	and	and	CCONJ
afbr-403	239	23	independent	independent	ADJ
afbr-403	239	24	variables	variable	NOUN
afbr-403	239	25	(	(	PUNCT
afbr-403	239	26	table	table	NOUN
afbr-403	239	27	i	i	NOUN
afbr-403	239	28	)	)	PUNCT
afbr-403	239	29	.	.	PUNCT
afbr-403	240	1	this	this	PRON
afbr-403	240	2	shows	show	VERB
afbr-403	240	3	fixed	fix	VERB
afbr-403	240	4	effect	effect	NOUN
afbr-403	240	5	model	model	NOUN
afbr-403	240	6	is	be	AUX
afbr-403	240	7	more	more	ADV
afbr-403	240	8	appropriate	appropriate	ADJ
afbr-403	240	9	,	,	PUNCT
afbr-403	240	10	because	because	SCONJ
afbr-403	240	11	the	the	DET
afbr-403	240	12	null	null	ADJ
afbr-403	240	13	hypothesis	hypothesis	NOUN
afbr-403	240	14	is	be	AUX
afbr-403	240	15	not	not	PART
afbr-403	240	16	accepted	accept	VERB
afbr-403	240	17	.	.	PUNCT
afbr-403	241	1	therefore	therefore	ADV
afbr-403	241	2	,	,	PUNCT
afbr-403	241	3	this	this	PRON
afbr-403	241	4	includes	include	VERB
afbr-403	241	5	insignificant	insignificant	ADJ
afbr-403	241	6	p	p	NOUN
afbr-403	241	7	-	-	PUNCT
afbr-403	241	8	value	value	NOUN
afbr-403	241	9	,	,	PUNCT
afbr-403	241	10	prob	prob	NOUN
afbr-403	241	11	>	>	X
afbr-403	241	12	chi2	chi2	NOUN
afbr-403	241	13	larger	large	ADJ
afbr-403	241	14	than	than	ADP
afbr-403	241	15	0.05	0.05	NUM
afbr-403	241	16	,	,	PUNCT
afbr-403	241	17	then	then	ADV
afbr-403	241	18	it	it	PRON
afbr-403	241	19	is	be	AUX
afbr-403	241	20	more	more	ADV
afbr-403	241	21	suitable	suitable	ADJ
afbr-403	241	22	to	to	PART
afbr-403	241	23	use	use	VERB
afbr-403	241	24	random	random	ADJ
afbr-403	241	25	effects	effect	NOUN
afbr-403	241	26	.	.	PUNCT
afbr-403	242	1	however	however	ADV
afbr-403	242	2	,	,	PUNCT
afbr-403	242	3	if	if	SCONJ
afbr-403	242	4	we	we	PRON
afbr-403	242	5	have	have	VERB
afbr-403	242	6	a	a	DET
afbr-403	242	7	significant	significant	ADJ
afbr-403	242	8	p	p	NOUN
afbr-403	242	9	-	-	PUNCT
afbr-403	242	10	value	value	NOUN
afbr-403	242	11	,	,	PUNCT
afbr-403	242	12	then	then	ADV
afbr-403	242	13	we	we	PRON
afbr-403	242	14	should	should	AUX
afbr-403	242	15	use	use	VERB
afbr-403	242	16	fixed	fix	VERB
afbr-403	242	17	effects	effect	NOUN
afbr-403	242	18	models	model	NOUN
afbr-403	242	19	.	.	PUNCT
afbr-403	242	20	"	"	PUNCT
afbr-403	243	1	like	like	ADP
afbr-403	243	2	the	the	DET
afbr-403	243	3	dividend	dividend	NOUN
afbr-403	243	4	policy	policy	NOUN
afbr-403	243	5	,	,	PUNCT
afbr-403	243	6	the	the	DET
afbr-403	243	7	opinion	opinion	NOUN
afbr-403	243	8	that	that	SCONJ
afbr-403	243	9	capital	capital	NOUN
afbr-403	243	10	structure	structure	NOUN
afbr-403	243	11	has	have	AUX
afbr-403	243	12	effect	effect	NOUN
afbr-403	243	13	on	on	ADP
afbr-403	243	14	the	the	DET
afbr-403	243	15	market	market	NOUN
afbr-403	243	16	value	value	NOUN
afbr-403	243	17	of	of	ADP
afbr-403	243	18	listed	list	VERB
afbr-403	243	19	companies	company	NOUN
afbr-403	243	20	has	have	AUX
afbr-403	243	21	long	long	ADV
afbr-403	243	22	been	be	AUX
afbr-403	243	23	a	a	DET
afbr-403	243	24	point	point	NOUN
afbr-403	243	25	of	of	ADP
afbr-403	243	26	departure	departure	NOUN
afbr-403	243	27	among	among	ADP
afbr-403	243	28	scholars	scholar	NOUN
afbr-403	243	29	in	in	ADP
afbr-403	243	30	the	the	DET
afbr-403	243	31	field	field	NOUN
afbr-403	243	32	of	of	ADP
afbr-403	243	33	finance	finance	NOUN
afbr-403	243	34	.	.	PUNCT
afbr-403	244	1	the	the	DET
afbr-403	244	2	gordons	gordon	NOUN
afbr-403	244	3	relevant	relevant	ADJ
afbr-403	244	4	theory	theory	NOUN
afbr-403	244	5	was	be	AUX
afbr-403	244	6	challenged	challenge	VERB
afbr-403	244	7	by	by	ADP
afbr-403	244	8	the	the	DET
afbr-403	244	9	miller	miller	PROPN
afbr-403	244	10	and	and	CCONJ
afbr-403	244	11	modigliani	modigliani	ADJ
afbr-403	244	12	irrelevant	irrelevant	ADJ
afbr-403	244	13	theory	theory	NOUN
afbr-403	244	14	.	.	PUNCT
afbr-403	245	1	however	however	ADV
afbr-403	245	2	,	,	PUNCT
afbr-403	245	3	it	it	PRON
afbr-403	245	4	is	be	AUX
afbr-403	245	5	important	important	ADJ
afbr-403	245	6	to	to	PART
afbr-403	245	7	note	note	VERB
afbr-403	245	8	that	that	SCONJ
afbr-403	245	9	the	the	DET
afbr-403	245	10	assumptions	assumption	NOUN
afbr-403	245	11	of	of	ADP
afbr-403	245	12	the	the	DET
afbr-403	245	13	mm	mm	PROPN
afbr-403	245	14	hypotheses	hypothesis	NOUN
afbr-403	245	15	are	be	AUX
afbr-403	245	16	not	not	PART
afbr-403	245	17	attainable	attainable	ADJ
afbr-403	245	18	mostly	mostly	ADV
afbr-403	245	19	in	in	ADP
afbr-403	245	20	the	the	DET
afbr-403	245	21	emerging	emerge	VERB
afbr-403	245	22	financial	financial	ADJ
afbr-403	245	23	market	market	NOUN
afbr-403	245	24	like	like	ADP
afbr-403	245	25	nigeria	nigeria	PRON
afbr-403	245	26	where	where	SCONJ
afbr-403	245	27	the	the	DET
afbr-403	245	28	financial	financial	ADJ
afbr-403	245	29	market	market	NOUN
afbr-403	245	30	can	can	AUX
afbr-403	245	31	not	not	PART
afbr-403	245	32	be	be	AUX
afbr-403	245	33	defined	define	VERB
afbr-403	245	34	as	as	ADP
afbr-403	245	35	a	a	DET
afbr-403	245	36	regulated	regulated	ADJ
afbr-403	245	37	or	or	CCONJ
afbr-403	245	38	deregulated	deregulated	ADJ
afbr-403	245	39	market	market	NOUN
afbr-403	245	40	.	.	PUNCT
afbr-403	246	1	empirical	empirical	ADJ
afbr-403	246	2	evidence	evidence	NOUN
afbr-403	246	3	has	have	AUX
afbr-403	246	4	validated	validate	VERB
afbr-403	246	5	the	the	DET
afbr-403	246	6	relevant	relevant	ADJ
afbr-403	246	7	theory	theory	NOUN
afbr-403	246	8	as	as	SCONJ
afbr-403	246	9	opposed	oppose	VERB
afbr-403	246	10	to	to	ADP
afbr-403	246	11	the	the	DET
afbr-403	246	12	irrelevant	irrelevant	ADJ
afbr-403	246	13	theory	theory	NOUN
afbr-403	246	14	.	.	PUNCT
afbr-403	247	1	the	the	DET
afbr-403	247	2	findings	finding	NOUN
afbr-403	247	3	the	the	DET
afbr-403	247	4	study	study	NOUN
afbr-403	247	5	as	as	SCONJ
afbr-403	247	6	shown	show	VERB
afbr-403	247	7	in	in	ADP
afbr-403	247	8	the	the	DET
afbr-403	247	9	table	table	NOUN
afbr-403	247	10	above	above	ADV
afbr-403	247	11	consolidates	consolidate	VERB
afbr-403	247	12	the	the	DET
afbr-403	247	13	opinion	opinion	NOUN
afbr-403	247	14	of	of	ADP
afbr-403	247	15	gordons	gordon	NOUN
afbr-403	247	16	and	and	CCONJ
afbr-403	247	17	invalidates	invalidate	VERB
afbr-403	247	18	the	the	DET
afbr-403	247	19	mm	mm	PROPN
afbr-403	247	20	hypotheses	hypothesis	NOUN
afbr-403	247	21	.	.	PUNCT
afbr-403	248	1	this	this	DET
afbr-403	248	2	finding	finding	NOUN
afbr-403	248	3	shows	show	VERB
afbr-403	248	4	that	that	SCONJ
afbr-403	248	5	dividend	dividend	NOUN
afbr-403	248	6	policy	policy	NOUN
afbr-403	248	7	is	be	AUX
afbr-403	248	8	a	a	DET
afbr-403	248	9	major	major	ADJ
afbr-403	248	10	determinant	determinant	NOUN
afbr-403	248	11	of	of	ADP
afbr-403	248	12	stock	stock	NOUN
afbr-403	248	13	prices	price	NOUN
afbr-403	248	14	of	of	ADP
afbr-403	248	15	the	the	DET
afbr-403	248	16	quoted	quote	VERB
afbr-403	248	17	firms	firm	NOUN
afbr-403	248	18	.	.	PUNCT
afbr-403	249	1	this	this	DET
afbr-403	249	2	finding	finding	NOUN
afbr-403	249	3	confirms	confirm	VERB
afbr-403	249	4	the	the	DET
afbr-403	249	5	findings	finding	NOUN
afbr-403	249	6	of	of	ADP
afbr-403	249	7	akani	akani	NOUN
afbr-403	249	8	and	and	CCONJ
afbr-403	249	9	lucky	lucky	ADJ
afbr-403	249	10	.	.	PUNCT
afbr-403	250	1	,	,	PUNCT
afbr-403	250	2	(	(	PUNCT
afbr-403	250	3	2016	2016	NUM
afbr-403	250	4	)	)	PUNCT
afbr-403	250	5	on	on	ADP
afbr-403	250	6	the	the	DET
afbr-403	250	7	effects	effect	NOUN
afbr-403	250	8	of	of	ADP
afbr-403	250	9	capital	capital	NOUN
afbr-403	250	10	structure	structure	NOUN
afbr-403	250	11	on	on	ADP
afbr-403	250	12	the	the	DET
afbr-403	250	13	share	share	NOUN
afbr-403	250	14	wealth	wealth	NOUN
afbr-403	250	15	of	of	ADP
afbr-403	250	16	nigeria	nigeria	PROPN
afbr-403	250	17	commercial	commercial	ADJ
afbr-403	250	18	banks	bank	NOUN
afbr-403	250	19	,	,	PUNCT
afbr-403	250	20	it	it	PRON
afbr-403	250	21	confirm	confirm	VERB
afbr-403	250	22	the	the	DET
afbr-403	250	23	findings	finding	NOUN
afbr-403	250	24	of	of	ADP
afbr-403	250	25	patel	patel	NOUN
afbr-403	250	26	and	and	CCONJ
afbr-403	250	27	bhatt	bhatt	PROPN
afbr-403	250	28	(	(	PUNCT
afbr-403	250	29	2013	2013	NUM
afbr-403	250	30	)	)	PUNCT
afbr-403	250	31	whose	whose	DET
afbr-403	250	32	study	study	NOUN
afbr-403	250	33	found	find	VERB
afbr-403	250	34	significant	significant	ADJ
afbr-403	250	35	relationship	relationship	NOUN
afbr-403	250	36	between	between	ADP
afbr-403	250	37	capital	capital	NOUN
afbr-403	250	38	structure	structure	NOUN
afbr-403	250	39	and	and	CCONJ
afbr-403	250	40	stock	stock	NOUN
afbr-403	250	41	prices	price	NOUN
afbr-403	250	42	of	of	ADP
afbr-403	250	43	firms	firm	NOUN
afbr-403	250	44	listed	list	VERB
afbr-403	250	45	on	on	ADP
afbr-403	250	46	pakistan	pakistan	PROPN
afbr-403	250	47	stock	stock	PROPN
afbr-403	250	48	exchange	exchange	PROPN
afbr-403	250	49	.	.	PUNCT
afbr-403	251	1	it	it	PRON
afbr-403	251	2	is	be	AUX
afbr-403	251	3	in	in	ADP
afbr-403	251	4	line	line	NOUN
afbr-403	251	5	with	with	ADP
afbr-403	251	6	the	the	DET
afbr-403	251	7	findings	finding	NOUN
afbr-403	251	8	of	of	ADP
afbr-403	251	9	ahmad	ahmad	PROPN
afbr-403	251	10	,	,	PUNCT
afbr-403	251	11	abdullah	abdullah	PROPN
afbr-403	251	12	,	,	PUNCT
afbr-403	251	13	&	&	CCONJ
afbr-403	251	14	roslan	roslan	PROPN
afbr-403	251	15	(	(	PUNCT
afbr-403	251	16	2012	2012	NUM
afbr-403	251	17	)	)	PUNCT
afbr-403	251	18	whose	whose	DET
afbr-403	251	19	study	study	NOUN
afbr-403	251	20	validated	validate	VERB
afbr-403	251	21	the	the	DET
afbr-403	251	22	relevant	relevant	ADJ
afbr-403	251	23	theory	theory	NOUN
afbr-403	251	24	of	of	ADP
afbr-403	251	25	gordon	gordon	PROPN
afbr-403	251	26	.	.	PUNCT
afbr-403	252	1	5	5	X
afbr-403	252	2	.	.	X
afbr-403	252	3	conclusion	conclusion	NOUN
afbr-403	252	4	the	the	DET
afbr-403	252	5	arguments	argument	NOUN
afbr-403	252	6	,	,	PUNCT
afbr-403	252	7	simulations	simulation	NOUN
afbr-403	252	8	and	and	CCONJ
afbr-403	252	9	evidence	evidence	NOUN
afbr-403	252	10	in	in	ADP
afbr-403	252	11	the	the	DET
afbr-403	252	12	foregoing	forego	VERB
afbr-403	252	13	studies	study	NOUN
afbr-403	252	14	seem	seem	VERB
afbr-403	252	15	not	not	PART
afbr-403	252	16	to	to	PART
afbr-403	252	17	agree	agree	VERB
afbr-403	252	18	on	on	ADP
afbr-403	252	19	the	the	DET
afbr-403	252	20	exact	exact	ADJ
afbr-403	252	21	causal	causal	ADJ
afbr-403	252	22	direction	direction	NOUN
afbr-403	252	23	between	between	ADP
afbr-403	252	24	corporate	corporate	ADJ
afbr-403	252	25	capital	capital	NOUN
afbr-403	252	26	structure	structure	NOUN
afbr-403	252	27	and	and	CCONJ
afbr-403	252	28	profitability	profitability	NOUN
afbr-403	252	29	and	and	CCONJ
afbr-403	252	30	also	also	ADV
afbr-403	252	31	on	on	ADP
afbr-403	252	32	the	the	DET
afbr-403	252	33	impact	impact	NOUN
afbr-403	252	34	of	of	ADP
afbr-403	252	35	capital	capital	NOUN
afbr-403	252	36	structure	structure	NOUN
afbr-403	252	37	and	and	CCONJ
afbr-403	252	38	the	the	DET
afbr-403	252	39	value	value	NOUN
afbr-403	252	40	of	of	ADP
afbr-403	252	41	corporate	corporate	ADJ
afbr-403	252	42	firms	firm	NOUN
afbr-403	252	43	.	.	PUNCT
afbr-403	253	1	however	however	ADV
afbr-403	253	2	the	the	DET
afbr-403	253	3	above	above	ADJ
afbr-403	253	4	issues	issue	NOUN
afbr-403	253	5	that	that	PRON
afbr-403	253	6	was	be	AUX
afbr-403	253	7	raised	raise	VERB
afbr-403	253	8	in	in	ADP
afbr-403	253	9	the	the	DET
afbr-403	253	10	literature	literature	NOUN
afbr-403	253	11	review	review	NOUN
afbr-403	253	12	still	still	ADV
afbr-403	253	13	remains	remain	VERB
afbr-403	253	14	largely	largely	ADV
afbr-403	253	15	controversial	controversial	ADJ
afbr-403	253	16	.	.	PUNCT
afbr-403	254	1	"	"	PUNCT
afbr-403	254	2	like	like	ADP
afbr-403	254	3	the	the	DET
afbr-403	254	4	dividend	dividend	NOUN
afbr-403	254	5	policy	policy	NOUN
afbr-403	254	6	theories	theory	NOUN
afbr-403	254	7	,	,	PUNCT
afbr-403	254	8	the	the	DET
afbr-403	254	9	assumptions	assumption	NOUN
afbr-403	254	10	of	of	ADP
afbr-403	254	11	capital	capital	NOUN
afbr-403	254	12	structure	structure	NOUN
afbr-403	254	13	theories	theory	NOUN
afbr-403	254	14	are	be	AUX
afbr-403	254	15	based	base	VERB
afbr-403	254	16	on	on	ADP
afbr-403	254	17	the	the	DET
afbr-403	254	18	well	well	ADV
afbr-403	254	19	-	-	PUNCT
afbr-403	254	20	developed	develop	VERB
afbr-403	254	21	financial	financial	ADJ
afbr-403	254	22	policies	policy	NOUN
afbr-403	254	23	as	as	SCONJ
afbr-403	254	24	opposed	oppose	VERB
afbr-403	254	25	to	to	ADP
afbr-403	254	26	an	an	DET
afbr-403	254	27	emerging	emerge	VERB
afbr-403	254	28	financial	financial	ADJ
afbr-403	254	29	environment	environment	NOUN
afbr-403	254	30	such	such	ADJ
afbr-403	254	31	as	as	ADP
afbr-403	254	32	nigeria	nigeria	PROPN
afbr-403	254	33	.	.	PUNCT
afbr-403	255	1	for	for	ADP
afbr-403	255	2	instance	instance	NOUN
afbr-403	255	3	the	the	DET
afbr-403	255	4	assumption	assumption	NOUN
afbr-403	255	5	of	of	ADP
afbr-403	255	6	the	the	DET
afbr-403	255	7	perfect	perfect	ADJ
afbr-403	255	8	capital	capital	NOUN
afbr-403	255	9	market	market	NOUN
afbr-403	255	10	compared	compare	VERB
afbr-403	255	11	to	to	ADP
afbr-403	255	12	other	other	ADJ
afbr-403	255	13	emerging	emerge	VERB
afbr-403	255	14	capital	capital	NOUN
afbr-403	255	15	market	market	NOUN
afbr-403	255	16	that	that	PRON
afbr-403	255	17	is	be	AUX
afbr-403	255	18	characterized	characterize	VERB
afbr-403	255	19	with	with	ADP
afbr-403	255	20	insider	insider	NOUN
afbr-403	255	21	dealings	dealing	NOUN
afbr-403	255	22	and	and	CCONJ
afbr-403	255	23	other	other	ADJ
afbr-403	255	24	insider	insider	NOUN
afbr-403	255	25	abuse	abuse	NOUN
afbr-403	255	26	.	.	PUNCT
afbr-403	256	1	the	the	DET
afbr-403	256	2	theories	theory	NOUN
afbr-403	256	3	suggest	suggest	VERB
afbr-403	256	4	that	that	SCONJ
afbr-403	256	5	firms	firm	NOUN
afbr-403	256	6	select	select	VERB
afbr-403	256	7	capital	capital	NOUN
afbr-403	256	8	structure	structure	NOUN
afbr-403	256	9	depending	depend	VERB
afbr-403	256	10	on	on	ADP
afbr-403	256	11	attributes	attribute	NOUN
afbr-403	256	12	that	that	PRON
afbr-403	256	13	determine	determine	VERB
afbr-403	256	14	the	the	DET
afbr-403	256	15	various	various	ADJ
afbr-403	256	16	costs	cost	NOUN
afbr-403	256	17	and	and	CCONJ
afbr-403	256	18	benefits	benefit	NOUN
afbr-403	256	19	associated	associate	VERB
afbr-403	256	20	with	with	ADP
afbr-403	256	21	debt	debt	NOUN
afbr-403	256	22	and	and	CCONJ
afbr-403	256	23	equity	equity	NOUN
afbr-403	256	24	financing	financing	NOUN
afbr-403	256	25	.	.	PUNCT
afbr-403	257	1	the	the	DET
afbr-403	257	2	divergences	divergence	NOUN
afbr-403	257	3	among	among	ADP
afbr-403	257	4	scholars	scholar	NOUN
afbr-403	257	5	have	have	AUX
afbr-403	257	6	deepened	deepen	VERB
afbr-403	257	7	as	as	SCONJ
afbr-403	257	8	more	more	ADJ
afbr-403	257	9	theories	theory	NOUN
afbr-403	257	10	emerge	emerge	VERB
afbr-403	257	11	with	with	ADP
afbr-403	257	12	different	different	ADJ
afbr-403	257	13	opinions	opinion	NOUN
afbr-403	257	14	on	on	ADP
afbr-403	257	15	the	the	DET
afbr-403	257	16	relationship	relationship	NOUN
afbr-403	257	17	between	between	ADP
afbr-403	257	18	capital	capital	NOUN
afbr-403	257	19	structure	structure	NOUN
afbr-403	257	20	and	and	CCONJ
afbr-403	257	21	performance	performance	NOUN
afbr-403	257	22	of	of	ADP
afbr-403	257	23	corporate	corporate	ADJ
afbr-403	257	24	firms	firm	NOUN
afbr-403	257	25	.	.	PUNCT
afbr-403	257	26	"	"	PUNCT
afbr-403	258	1	from	from	ADP
afbr-403	258	2	the	the	DET
afbr-403	258	3	findings	finding	NOUN
afbr-403	258	4	of	of	ADP
afbr-403	258	5	the	the	DET
afbr-403	258	6	study	study	NOUN
afbr-403	258	7	,	,	PUNCT
afbr-403	258	8	we	we	PRON
afbr-403	258	9	conclude	conclude	VERB
afbr-403	258	10	that	that	SCONJ
afbr-403	258	11	capital	capital	NOUN
afbr-403	258	12	structure	structure	NOUN
afbr-403	258	13	is	be	AUX
afbr-403	258	14	relevant	relevant	ADJ
afbr-403	258	15	.	.	PUNCT
afbr-403	259	1	copyright	copyright	NOUN
afbr-403	259	2	©	©	PROPN
afbr-403	259	3	cc	cc	PROPN
afbr-403	259	4	-	-	PUNCT
afbr-403	259	5	by	by	ADP
afbr-403	259	6	-	-	PUNCT
afbr-403	259	7	nc	nc	PROPN
afbr-403	259	8	2019	2019	NUM
afbr-403	259	9	,	,	PUNCT
afbr-403	259	10	cribfb	cribfb	PROPN
afbr-403	259	11	|	|	ADV
afbr-403	259	12	afbr	afbr	PROPN
afbr-403	259	13	www.cribfb.com/journal/index.php/afbr	www.cribfb.com/journal/index.php/afbr	ADJ
afbr-403	259	14	australian	australian	ADJ
afbr-403	259	15	finance	finance	PROPN
afbr-403	259	16	&	&	CCONJ
afbr-403	259	17	banking	banking	PROPN
afbr-403	259	18	review	review	PROPN
afbr-403	259	19	vol	vol	NOUN
afbr-403	259	20	.	.	PROPN
afbr-403	260	1	3	3	NUM
afbr-403	260	2	,	,	PUNCT
afbr-403	260	3	no	no	INTJ
afbr-403	260	4	.	.	NOUN
afbr-403	260	5	2	2	NUM
afbr-403	260	6	;	;	PUNCT
afbr-403	260	7	2019	2019	NUM
afbr-403	260	8	14	14	NUM
afbr-403	260	9	6	6	NUM
afbr-403	260	10	.	.	PUNCT
afbr-403	261	1	recommendation	recommendation	NOUN
afbr-403	261	2	in	in	ADP
afbr-403	261	3	line	line	NOUN
afbr-403	261	4	with	with	ADP
afbr-403	261	5	the	the	DET
afbr-403	261	6	findings	finding	NOUN
afbr-403	261	7	of	of	ADP
afbr-403	261	8	this	this	DET
afbr-403	261	9	study	study	NOUN
afbr-403	261	10	,	,	PUNCT
afbr-403	261	11	the	the	DET
afbr-403	261	12	following	follow	VERB
afbr-403	261	13	recommendations	recommendation	NOUN
afbr-403	261	14	are	be	AUX
afbr-403	261	15	made	make	VERB
afbr-403	261	16	:	:	PUNCT
afbr-403	261	17			X
afbr-403	261	18	"	"	PUNCT
afbr-403	261	19	the	the	DET
afbr-403	261	20	study	study	NOUN
afbr-403	261	21	recommends	recommend	VERB
afbr-403	261	22	internal	internal	ADJ
afbr-403	261	23	and	and	CCONJ
afbr-403	261	24	external	external	ADJ
afbr-403	261	25	policies	policy	NOUN
afbr-403	261	26	to	to	PART
afbr-403	261	27	deepen	deepen	VERB
afbr-403	261	28	the	the	DET
afbr-403	261	29	efficiency	efficiency	NOUN
afbr-403	261	30	of	of	ADP
afbr-403	261	31	the	the	DET
afbr-403	261	32	nigerian	nigerian	ADJ
afbr-403	261	33	capital	capital	NOUN
afbr-403	261	34	market	market	NOUN
afbr-403	261	35	to	to	PART
afbr-403	261	36	improve	improve	VERB
afbr-403	261	37	an	an	DET
afbr-403	261	38	easy	easy	ADJ
afbr-403	261	39	source	source	NOUN
afbr-403	261	40	of	of	ADP
afbr-403	261	41	capital	capital	NOUN
afbr-403	261	42	to	to	PART
afbr-403	261	43	produce	produce	VERB
afbr-403	261	44	better	well	ADJ
afbr-403	261	45	returns	return	NOUN
afbr-403	261	46	for	for	ADP
afbr-403	261	47	listed	list	VERB
afbr-403	261	48	nigerian	nigerian	ADJ
afbr-403	261	49	listed	list	VERB
afbr-403	261	50	companies	company	NOUN
afbr-403	261	51	and	and	CCONJ
afbr-403	261	52	that	that	SCONJ
afbr-403	261	53	a	a	DET
afbr-403	261	54	financial	financial	ADJ
afbr-403	261	55	system	system	NOUN
afbr-403	261	56	such	such	ADJ
afbr-403	261	57	as	as	ADP
afbr-403	261	58	a	a	DET
afbr-403	261	59	banking	banking	NOUN
afbr-403	261	60	institution	institution	NOUN
afbr-403	261	61	should	should	AUX
afbr-403	261	62	reform	reform	VERB
afbr-403	261	63	to	to	PART
afbr-403	261	64	facilitate	facilitate	VERB
afbr-403	261	65	low	low	ADJ
afbr-403	261	66	-	-	PUNCT
afbr-403	261	67	cost	cost	NOUN
afbr-403	261	68	debt	debt	NOUN
afbr-403	261	69	.	.	PUNCT
afbr-403	262	1			PUNCT
afbr-403	263	1	the	the	DET
afbr-403	263	2	study	study	NOUN
afbr-403	263	3	recommends	recommend	VERB
afbr-403	263	4	that	that	SCONJ
afbr-403	263	5	a	a	DET
afbr-403	263	6	proper	proper	ADJ
afbr-403	263	7	monetary	monetary	ADJ
afbr-403	263	8	and	and	CCONJ
afbr-403	263	9	macroeconomic	macroeconomic	ADJ
afbr-403	263	10	environment	environment	NOUN
afbr-403	263	11	be	be	AUX
afbr-403	263	12	created	create	VERB
afbr-403	263	13	so	so	SCONJ
afbr-403	263	14	that	that	SCONJ
afbr-403	263	15	it	it	PRON
afbr-403	263	16	has	have	VERB
afbr-403	263	17	a	a	DET
afbr-403	263	18	positive	positive	ADJ
afbr-403	263	19	impact	impact	NOUN
afbr-403	263	20	on	on	ADP
afbr-403	263	21	investment	investment	NOUN
afbr-403	263	22	and	and	CCONJ
afbr-403	263	23	those	those	DET
afbr-403	263	24	nigerian	nigerian	ADJ
afbr-403	263	25	companies	company	NOUN
afbr-403	263	26	'	'	PART
afbr-403	263	27	investments	investment	NOUN
afbr-403	263	28	should	should	AUX
afbr-403	263	29	be	be	AUX
afbr-403	263	30	properly	properly	ADV
afbr-403	263	31	managed	manage	VERB
afbr-403	263	32	to	to	PART
afbr-403	263	33	maximize	maximize	VERB
afbr-403	263	34	the	the	DET
afbr-403	263	35	profitability	profitability	NOUN
afbr-403	263	36	of	of	ADP
afbr-403	263	37	a	a	DET
afbr-403	263	38	better	well	ADJ
afbr-403	263	39	shareholder	shareholder	NOUN
afbr-403	263	40	fund	fund	NOUN
afbr-403	263	41	.	.	PUNCT
afbr-403	263	42			PUNCT
afbr-403	264	1	the	the	DET
afbr-403	264	2	study	study	NOUN
afbr-403	264	3	recommends	recommend	VERB
afbr-403	264	4	structural	structural	ADJ
afbr-403	264	5	reforms	reform	NOUN
afbr-403	264	6	in	in	ADP
afbr-403	264	7	the	the	DET
afbr-403	264	8	capital	capital	NOUN
afbr-403	264	9	structure	structure	NOUN
afbr-403	264	10	of	of	ADP
afbr-403	264	11	some	some	DET
afbr-403	264	12	companies	company	NOUN
afbr-403	264	13	to	to	PART
afbr-403	264	14	improve	improve	VERB
afbr-403	264	15	their	their	PRON
afbr-403	264	16	profitability	profitability	NOUN
afbr-403	264	17	.	.	PUNCT
afbr-403	265	1	nigerian	nigerian	ADJ
afbr-403	265	2	companies	company	NOUN
afbr-403	265	3	should	should	AUX
afbr-403	265	4	strive	strive	VERB
afbr-403	265	5	to	to	PART
afbr-403	265	6	match	match	VERB
afbr-403	265	7	their	their	PRON
afbr-403	265	8	high	high	ADJ
afbr-403	265	9	market	market	NOUN
afbr-403	265	10	performance	performance	NOUN
afbr-403	265	11	with	with	ADP
afbr-403	265	12	actual	actual	ADJ
afbr-403	265	13	activities	activity	NOUN
afbr-403	265	14	that	that	PRON
afbr-403	265	15	can	can	AUX
afbr-403	265	16	help	help	VERB
afbr-403	265	17	to	to	PART
afbr-403	265	18	reflect	reflect	VERB
afbr-403	265	19	market	market	NOUN
afbr-403	265	20	performance	performance	NOUN
afbr-403	265	21	in	in	ADP
afbr-403	265	22	their	their	PRON
afbr-403	265	23	internal	internal	ADJ
afbr-403	265	24	growth	growth	NOUN
afbr-403	265	25	and	and	CCONJ
afbr-403	265	26	accounting	accounting	NOUN
afbr-403	265	27	performance	performance	NOUN
afbr-403	265	28	.	.	PUNCT
afbr-403	266	1	and	and	CCONJ
afbr-403	266	2	companies	company	NOUN
afbr-403	266	3	should	should	AUX
afbr-403	266	4	rely	rely	VERB
afbr-403	266	5	less	less	ADV
afbr-403	266	6	on	on	ADP
afbr-403	266	7	debt	debt	NOUN
afbr-403	266	8	capital	capital	NOUN
afbr-403	266	9	,	,	PUNCT
afbr-403	266	10	which	which	PRON
afbr-403	266	11	accounted	account	VERB
afbr-403	266	12	for	for	ADP
afbr-403	266	13	most	most	ADJ
afbr-403	266	14	of	of	ADP
afbr-403	266	15	their	their	PRON
afbr-403	266	16	leverage	leverage	NOUN
afbr-403	266	17	,	,	PUNCT
afbr-403	266	18	and	and	CCONJ
afbr-403	266	19	focus	focus	VERB
afbr-403	266	20	more	more	ADV
afbr-403	266	21	on	on	ADP
afbr-403	266	22	developing	develop	VERB
afbr-403	266	23	internal	internal	ADJ
afbr-403	266	24	strategies	strategy	NOUN
afbr-403	266	25	that	that	PRON
afbr-403	266	26	can	can	AUX
afbr-403	266	27	help	help	VERB
afbr-403	266	28	further	far	ADV
afbr-403	266	29	improve	improve	VERB
afbr-403	266	30	capital	capital	NOUN
afbr-403	266	31	performance	performance	NOUN
afbr-403	266	32	,	,	PUNCT
afbr-403	266	33	and	and	CCONJ
afbr-403	266	34	companies	company	NOUN
afbr-403	266	35	should	should	AUX
afbr-403	266	36	develop	develop	VERB
afbr-403	266	37	a	a	DET
afbr-403	266	38	good	good	ADJ
afbr-403	266	39	strategy	strategy	NOUN
afbr-403	266	40	to	to	PART
afbr-403	266	41	maximize	maximize	VERB
afbr-403	266	42	their	their	PRON
afbr-403	266	43	capital	capital	NOUN
afbr-403	266	44	effects	effect	NOUN
afbr-403	266	45	in	in	ADP
afbr-403	266	46	a	a	DET
afbr-403	266	47	way	way	NOUN
afbr-403	266	48	that	that	PRON
afbr-403	266	49	creates	create	VERB
afbr-403	266	50	growth	growth	NOUN
afbr-403	266	51	opportunities	opportunity	NOUN
afbr-403	266	52	.	.	PUNCT
afbr-403	267	1	references	reference	NOUN
afbr-403	267	2	abbasali	abbasali	PROPN
afbr-403	267	3	,	,	PUNCT
afbr-403	267	4	p.	p.	NOUN
afbr-403	267	5	,	,	PUNCT
afbr-403	267	6	&	&	CCONJ
afbr-403	267	7	esfandir	esfandir	PROPN
afbr-403	267	8	,	,	PUNCT
afbr-403	267	9	m.	m.	NOUN
afbr-403	267	10	,	,	PUNCT
afbr-403	267	11	(	(	PUNCT
afbr-403	267	12	2012	2012	NUM
afbr-403	267	13	)	)	PUNCT
afbr-403	267	14	.	.	PUNCT
afbr-403	268	1	the	the	DET
afbr-403	268	2	relationship	relationship	NOUN
afbr-403	268	3	between	between	ADP
afbr-403	268	4	capital	capital	NOUN
afbr-403	268	5	structure	structure	NOUN
afbr-403	268	6	and	and	CCONJ
afbr-403	268	7	firm	firm	ADJ
afbr-403	268	8	performance	performance	NOUN
afbr-403	268	9	.	.	PUNCT
afbr-403	269	1	evaluation	evaluation	NOUN
afbr-403	269	2	measures	measure	NOUN
afbr-403	269	3	:	:	PUNCT
afbr-403	269	4	evidence	evidence	NOUN
afbr-403	269	5	from	from	ADP
afbr-403	269	6	the	the	DET
afbr-403	269	7	tehran	tehran	PROPN
afbr-403	269	8	stock	stock	PROPN
afbr-403	269	9	exchange	exchange	PROPN
afbr-403	269	10	.	.	PUNCT
afbr-403	270	1	international	international	ADJ
afbr-403	270	2	journal	journal	PROPN
afbr-403	270	3	of	of	ADP
afbr-403	270	4	business	business	NOUN
afbr-403	270	5	and	and	CCONJ
afbr-403	270	6	commerce	commerce	PROPN
afbr-403	270	7	1	1	NUM
afbr-403	270	8	(	(	PUNCT
afbr-403	270	9	9	9	NUM
afbr-403	270	10	)	)	PUNCT
afbr-403	270	11	,	,	PUNCT
afbr-403	270	12	166	166	NUM
afbr-403	270	13	–	–	SYM
afbr-403	270	14	181	181	NUM
afbr-403	270	15	.	.	PUNCT
afbr-403	271	1	abdul	abdul	PROPN
afbr-403	271	2	,	,	PUNCT
afbr-403	271	3	g.	g.	PROPN
afbr-403	271	4	k.	k.	PROPN
afbr-403	271	5	,	,	PUNCT
afbr-403	271	6	(	(	PUNCT
afbr-403	271	7	2010	2010	NUM
afbr-403	271	8	)	)	PUNCT
afbr-403	271	9	.	.	PUNCT
afbr-403	272	1	the	the	DET
afbr-403	272	2	relationship	relationship	NOUN
afbr-403	272	3	of	of	ADP
afbr-403	272	4	capital	capital	NOUN
afbr-403	272	5	structure	structure	NOUN
afbr-403	272	6	decisions	decision	NOUN
afbr-403	272	7	with	with	ADP
afbr-403	272	8	firm	firm	ADJ
afbr-403	272	9	performance	performance	NOUN
afbr-403	272	10	:	:	PUNCT
afbr-403	272	11	a	a	DET
afbr-403	272	12	study	study	NOUN
afbr-403	272	13	of	of	ADP
afbr-403	272	14	the	the	DET
afbr-403	272	15	engineering	engineering	NOUN
afbr-403	272	16	sector	sector	NOUN
afbr-403	272	17	of	of	ADP
afbr-403	272	18	pakistan	pakistan	PROPN
afbr-403	272	19	.	.	PUNCT
afbr-403	273	1	comsats	comsats	PROPN
afbr-403	273	2	institute	institute	PROPN
afbr-403	273	3	of	of	ADP
afbr-403	273	4	information	information	NOUN
afbr-403	273	5	technology	technology	NOUN
afbr-403	273	6	,	,	PUNCT
afbr-403	273	7	vehari	vehari	ADJ
afbr-403	273	8	aghabeygzadeh	aghabeygzadeh	NOUN
afbr-403	273	9	,	,	PUNCT
afbr-403	273	10	s.	s.	PROPN
afbr-403	273	11	,	,	PUNCT
afbr-403	273	12	&	&	CCONJ
afbr-403	273	13	akbarpour	akbarpour	NOUN
afbr-403	273	14	,	,	PUNCT
afbr-403	273	15	m.	m.	NOUN
afbr-403	273	16	,	,	PUNCT
afbr-403	273	17	(	(	PUNCT
afbr-403	273	18	2011	2011	NUM
afbr-403	273	19	)	)	PUNCT
afbr-403	273	20	.	.	PUNCT
afbr-403	274	1	reviewing	review	VERB
afbr-403	274	2	relationship	relationship	NOUN
afbr-403	274	3	between	between	ADP
afbr-403	274	4	financial	financial	ADJ
afbr-403	274	5	structure	structure	NOUN
afbr-403	274	6	and	and	CCONJ
afbr-403	274	7	firms	firm	NOUN
afbr-403	274	8	performance	performance	NOUN
afbr-403	274	9	in	in	ADP
afbr-403	274	10	firms	firm	NOUN
afbr-403	274	11	traded	trade	VERB
afbr-403	274	12	on	on	ADP
afbr-403	274	13	the	the	DET
afbr-403	274	14	tehran	tehran	PROPN
afbr-403	274	15	stock	stock	PROPN
afbr-403	274	16	exchange	exchange	PROPN
afbr-403	274	17	.	.	PUNCT
afbr-403	275	1	international	international	ADJ
afbr-403	275	2	journal	journal	PROPN
afbr-403	275	3	of	of	ADP
afbr-403	275	4	business	business	PROPN
afbr-403	275	5	administration	administration	PROPN
afbr-403	275	6	vol	vol	NOUN
afbr-403	275	7	.	.	PROPN
afbr-403	276	1	2	2	NUM
afbr-403	276	2	,	,	PUNCT
afbr-403	276	3	no	no	INTJ
afbr-403	276	4	.	.	NOUN
afbr-403	276	5	4	4	NUM
afbr-403	276	6	,	,	PUNCT
afbr-403	276	7	p.	p.	NOUN
afbr-403	276	8	175	175	NUM
afbr-403	276	9	-	-	SYM
afbr-403	276	10	180	180	NUM
afbr-403	276	11	.	.	PUNCT
afbr-403	277	1	ahmad	ahmad	PROPN
afbr-403	277	2	,	,	PUNCT
afbr-403	277	3	z.	z.	PROPN
afbr-403	277	4	,	,	PUNCT
afbr-403	277	5	abdullah	abdullah	PROPN
afbr-403	277	6	,	,	PUNCT
afbr-403	277	7	n.	n.	PROPN
afbr-403	277	8	h.	h.	PROPN
afbr-403	277	9	,	,	PUNCT
afbr-403	277	10	&	&	CCONJ
afbr-403	277	11	roslan	roslan	PROPN
afbr-403	277	12	,	,	PUNCT
afbr-403	277	13	s.	s.	PROPN
afbr-403	277	14	,	,	PUNCT
afbr-403	277	15	(	(	PUNCT
afbr-403	277	16	2012	2012	NUM
afbr-403	277	17	)	)	PUNCT
afbr-403	277	18	.	.	PUNCT
afbr-403	278	1	capital	capital	NOUN
afbr-403	278	2	structure	structure	NOUN
afbr-403	278	3	effect	effect	NOUN
afbr-403	278	4	on	on	ADP
afbr-403	278	5	firms	firm	NOUN
afbr-403	278	6	performance	performance	NOUN
afbr-403	278	7	:	:	PUNCT
afbr-403	278	8	focusing	focus	VERB
afbr-403	278	9	on	on	ADP
afbr-403	278	10	consumers	consumer	NOUN
afbr-403	278	11	and	and	CCONJ
afbr-403	278	12	industrials	industrial	NOUN
afbr-403	278	13	sectors	sector	NOUN
afbr-403	278	14	on	on	ADP
afbr-403	278	15	malaysian	malaysian	ADJ
afbr-403	278	16	firms	firm	NOUN
afbr-403	278	17	.	.	PUNCT
afbr-403	279	1	international	international	ADJ
afbr-403	279	2	review	review	NOUN
afbr-403	279	3	of	of	ADP
afbr-403	279	4	business	business	NOUN
afbr-403	279	5	research	research	NOUN
afbr-403	279	6	papers	paper	NOUN
afbr-403	279	7	8	8	NUM
afbr-403	279	8	(	(	PUNCT
afbr-403	279	9	5	5	NUM
afbr-403	279	10	)	)	PUNCT
afbr-403	279	11	,	,	PUNCT
afbr-403	279	12	137	137	NUM
afbr-403	279	13	-	-	SYM
afbr-403	279	14	155	155	NUM
afbr-403	279	15	.	.	PUNCT
afbr-403	280	1	akani	akani	NOUN
afbr-403	280	2	,	,	PUNCT
afbr-403	280	3	h.	h.	PROPN
afbr-403	280	4	w.	w.	PROPN
afbr-403	280	5	,	,	PUNCT
afbr-403	280	6	&	&	CCONJ
afbr-403	280	7	lucky	lucky	ADJ
afbr-403	280	8	,	,	PUNCT
afbr-403	280	9	a.	a.	PROPN
afbr-403	280	10	l.	l.	PROPN
afbr-403	280	11	,	,	PUNCT
afbr-403	280	12	(	(	PUNCT
afbr-403	280	13	2015	2015	NUM
afbr-403	280	14	)	)	PUNCT
afbr-403	280	15	.	.	PUNCT
afbr-403	281	1	econometrics	econometrics	NOUN
afbr-403	281	2	analysis	analysis	NOUN
afbr-403	281	3	of	of	ADP
afbr-403	281	4	capital	capital	NOUN
afbr-403	281	5	adequacy	adequacy	NOUN
afbr-403	281	6	and	and	CCONJ
afbr-403	281	7	the	the	DET
afbr-403	281	8	impact	impact	NOUN
afbr-403	281	9	on	on	ADP
afbr-403	281	10	profitability	profitability	NOUN
afbr-403	281	11	of	of	ADP
afbr-403	281	12	commercial	commercial	ADJ
afbr-403	281	13	banks	bank	NOUN
afbr-403	281	14	in	in	ADP
afbr-403	281	15	nigeria	nigeria	PROPN
afbr-403	281	16	.	.	PUNCT
afbr-403	282	1	iosr	iosr	PROPN
afbr-403	282	2	journal	journal	PROPN
afbr-403	282	3	of	of	ADP
afbr-403	282	4	economics	economic	NOUN
afbr-403	282	5	and	and	CCONJ
afbr-403	282	6	finance	finance	NOUN
afbr-403	282	7	,	,	PUNCT
afbr-403	282	8	6(6	6(6	ADJ
afbr-403	282	9	)	)	PUNCT
afbr-403	282	10	,	,	PUNCT
afbr-403	282	11	11	11	NUM
afbr-403	282	12	-	-	SYM
afbr-403	282	13	24	24	NUM
afbr-403	282	14	.	.	PUNCT
afbr-403	283	1	akinyomi	akinyomi	PROPN
afbr-403	283	2	,	,	PUNCT
afbr-403	283	3	o.	o.	PROPN
afbr-403	283	4	j.	j.	PROPN
afbr-403	283	5	,	,	PUNCT
afbr-403	283	6	(	(	PUNCT
afbr-403	283	7	2013	2013	NUM
afbr-403	283	8	)	)	PUNCT
afbr-403	283	9	.	.	PUNCT
afbr-403	284	1	effect	effect	NOUN
afbr-403	284	2	of	of	ADP
afbr-403	284	3	capital	capital	NOUN
afbr-403	284	4	structure	structure	NOUN
afbr-403	284	5	on	on	ADP
afbr-403	284	6	firms	firm	NOUN
afbr-403	284	7	performance	performance	NOUN
afbr-403	284	8	:	:	PUNCT
afbr-403	284	9	evidence	evidence	NOUN
afbr-403	284	10	from	from	ADP
afbr-403	284	11	nigerian	nigerian	ADJ
afbr-403	284	12	manufacturing	manufacturing	NOUN
afbr-403	284	13	company	company	NOUN
afbr-403	284	14	.	.	PUNCT
afbr-403	285	1	international	international	ADJ
afbr-403	285	2	journal	journal	NOUN
afbr-403	285	3	of	of	ADP
afbr-403	285	4	innovative	innovative	ADJ
afbr-403	285	5	research	research	NOUN
afbr-403	285	6	and	and	CCONJ
afbr-403	285	7	studies	study	NOUN
afbr-403	285	8	.	.	PUNCT
afbr-403	286	1	2	2	NUM
afbr-403	286	2	(	(	PUNCT
afbr-403	286	3	9	9	NUM
afbr-403	286	4	)	)	PUNCT
afbr-403	286	5	,	,	PUNCT
afbr-403	286	6	2319	2319	NUM
afbr-403	286	7	-	-	SYM
afbr-403	286	8	9725	9725	NUM
afbr-403	286	9	al	al	PROPN
afbr-403	286	10	-	-	PUNCT
afbr-403	286	11	taani	taani	PROPN
afbr-403	286	12	,	,	PUNCT
afbr-403	286	13	k.	k.	PROPN
afbr-403	286	14	,	,	PUNCT
afbr-403	286	15	(	(	PUNCT
afbr-403	286	16	2013	2013	NUM
afbr-403	286	17	)	)	PUNCT
afbr-403	286	18	.	.	PUNCT
afbr-403	287	1	the	the	DET
afbr-403	287	2	relationship	relationship	NOUN
afbr-403	287	3	between	between	ADP
afbr-403	287	4	capital	capital	NOUN
afbr-403	287	5	structure	structure	NOUN
afbr-403	287	6	and	and	CCONJ
afbr-403	287	7	firm	firm	ADJ
afbr-403	287	8	performance	performance	NOUN
afbr-403	287	9	:	:	PUNCT
afbr-403	287	10	evidence	evidence	NOUN
afbr-403	287	11	from	from	ADP
afbr-403	287	12	jordan	jordan	PROPN
afbr-403	287	13	.	.	PUNCT
afbr-403	288	1	journal	journal	PROPN
afbr-403	288	2	of	of	ADP
afbr-403	288	3	finance	finance	NOUN
afbr-403	288	4	and	and	CCONJ
afbr-403	288	5	accounting	accounting	NOUN
afbr-403	288	6	;	;	PUNCT
afbr-403	288	7	1(3	1(3	NUM
afbr-403	288	8	):	):	NUM
afbr-403	288	9	,	,	PUNCT
afbr-403	288	10	41	41	NUM
afbr-403	288	11	-	-	SYM
afbr-403	288	12	45	45	NUM
afbr-403	288	13	.	.	PUNCT
afbr-403	289	1	aman	aman	PROPN
afbr-403	289	2	,	,	PUNCT
afbr-403	289	3	s.	s.	PROPN
afbr-403	289	4	,	,	PUNCT
afbr-403	289	5	(	(	PUNCT
afbr-403	289	6	2011	2011	NUM
afbr-403	289	7	)	)	PUNCT
afbr-403	289	8	.	.	PUNCT
afbr-403	290	1	ownership	ownership	NOUN
afbr-403	290	2	structure	structure	NOUN
afbr-403	290	3	and	and	CCONJ
afbr-403	290	4	corporate	corporate	ADJ
afbr-403	290	5	performance	performance	NOUN
afbr-403	290	6	:	:	PUNCT
afbr-403	290	7	evidence	evidence	NOUN
afbr-403	290	8	from	from	ADP
afbr-403	290	9	india	india	PROPN
afbr-403	290	10	.	.	PUNCT
afbr-403	291	1	international	international	ADJ
afbr-403	291	2	journal	journal	PROPN
afbr-403	291	3	of	of	ADP
afbr-403	291	4	humanities	humanity	NOUN
afbr-403	291	5	and	and	CCONJ
afbr-403	291	6	social	social	ADJ
afbr-403	291	7	sciences	science	NOUN
afbr-403	291	8	,	,	PUNCT
afbr-403	291	9	1(1	1(1	NUM
afbr-403	291	10	)	)	PUNCT
afbr-403	291	11	,	,	PUNCT
afbr-403	291	12	23	23	NUM
afbr-403	291	13	-	-	SYM
afbr-403	291	14	29	29	NUM
afbr-403	291	15	.	.	PUNCT
afbr-403	292	1	amanuel	amanuel	NOUN
afbr-403	292	2	,	,	PUNCT
afbr-403	292	3	m.	m.	NOUN
afbr-403	292	4	,	,	PUNCT
afbr-403	292	5	(	(	PUNCT
afbr-403	292	6	2011	2011	NUM
afbr-403	292	7	)	)	PUNCT
afbr-403	292	8	.	.	PUNCT
afbr-403	293	1	the	the	DET
afbr-403	293	2	determinants	determinant	NOUN
afbr-403	293	3	of	of	ADP
afbr-403	293	4	capital	capital	NOUN
afbr-403	293	5	structure	structure	NOUN
afbr-403	293	6	evidence	evidence	NOUN
afbr-403	293	7	from	from	ADP
afbr-403	293	8	manufacturing	manufacture	VERB
afbr-403	293	9	share	share	NOUN
afbr-403	293	10	companies	company	NOUN
afbr-403	293	11	of	of	ADP
afbr-403	293	12	addis	addis	PROPN
afbr-403	293	13	ababa	ababa	PROPN
afbr-403	293	14	city	city	PROPN
afbr-403	293	15	‘	'	PUNCT
afbr-403	293	16	,	,	PUNCT
afbr-403	293	17	master‘s	master‘s	NOUN
afbr-403	293	18	thesis	thesis	NOUN
afbr-403	293	19	,	,	PUNCT
afbr-403	293	20	addis	addis	PROPN
afbr-403	293	21	ababa	ababa	PROPN
afbr-403	293	22	university	university	PROPN
afbr-403	293	23	.	.	PUNCT
afbr-403	294	1	amjed	amjed	PROPN
afbr-403	294	2	,	,	PUNCT
afbr-403	294	3	s.	s.	PROPN
afbr-403	294	4	,	,	PUNCT
afbr-403	294	5	(	(	PUNCT
afbr-403	294	6	2011	2011	NUM
afbr-403	294	7	)	)	PUNCT
afbr-403	294	8	.	.	PUNCT
afbr-403	295	1	impact	impact	NOUN
afbr-403	295	2	of	of	ADP
afbr-403	295	3	financial	financial	ADJ
afbr-403	295	4	structure	structure	NOUN
afbr-403	295	5	on	on	ADP
afbr-403	295	6	firm	firm	NOUN
afbr-403	295	7	’s	’s	PART
afbr-403	295	8	performance	performance	NOUN
afbr-403	295	9	:	:	PUNCT
afbr-403	295	10	a.	a.	NOUN
afbr-403	295	11	society	society	NOUN
afbr-403	295	12	of	of	ADP
afbr-403	295	13	interdisciplinary	interdisciplinary	ADJ
afbr-403	295	14	business	business	NOUN
afbr-403	295	15	research	research	NOUN
afbr-403	295	16	(	(	PUNCT
afbr-403	295	17	sibr	sibr	PROPN
afbr-403	295	18	)	)	PUNCT
afbr-403	295	19	,	,	PUNCT
afbr-403	295	20	454	454	NUM
afbr-403	295	21	-	-	SYM
afbr-403	295	22	476	476	NUM
afbr-403	295	23	.	.	PUNCT
afbr-403	296	1	azhagaiah	azhagaiah	PROPN
afbr-403	296	2	,	,	PUNCT
afbr-403	296	3	r.	r.	PROPN
afbr-403	296	4	,	,	PUNCT
afbr-403	296	5	&	&	CCONJ
afbr-403	296	6	gavoury	gavoury	PROPN
afbr-403	296	7	,	,	PUNCT
afbr-403	296	8	c.	c.	PROPN
afbr-403	296	9	,	,	PUNCT
afbr-403	296	10	(	(	PUNCT
afbr-403	296	11	2011	2011	NUM
afbr-403	296	12	)	)	PUNCT
afbr-403	296	13	.	.	PUNCT
afbr-403	297	1	the	the	DET
afbr-403	297	2	impact	impact	NOUN
afbr-403	297	3	of	of	ADP
afbr-403	297	4	capital	capital	NOUN
afbr-403	297	5	structure	structure	NOUN
afbr-403	297	6	on	on	ADP
afbr-403	297	7	profitability	profitability	NOUN
afbr-403	297	8	with	with	ADP
afbr-403	297	9	special	special	ADJ
afbr-403	297	10	reference	reference	NOUN
afbr-403	297	11	to	to	ADP
afbr-403	297	12	it	it	PRON
afbr-403	297	13	industry	industry	NOUN
afbr-403	297	14	in	in	ADP
afbr-403	297	15	india	india	PROPN
afbr-403	297	16	.	.	PUNCT
afbr-403	298	1	managing	manage	VERB
afbr-403	298	2	global	global	ADJ
afbr-403	298	3	transitions	transition	NOUN
afbr-403	298	4	,	,	PUNCT
afbr-403	298	5	9	9	NUM
afbr-403	298	6	(	(	PUNCT
afbr-403	298	7	4	4	NUM
afbr-403	298	8	)	)	PUNCT
afbr-403	298	9	,	,	PUNCT
afbr-403	298	10	371	371	NUM
afbr-403	298	11	-	-	SYM
afbr-403	298	12	392	392	NUM
afbr-403	298	13	.	.	PUNCT
afbr-403	299	1	babalola	babalola	PROPN
afbr-403	299	2	y.	y.	PROPN
afbr-403	299	3	a.	a.	PROPN
afbr-403	299	4	(	(	PUNCT
afbr-403	299	5	2014	2014	NUM
afbr-403	299	6	)	)	PUNCT
afbr-403	299	7	.	.	PUNCT
afbr-403	300	1	triangulation	triangulation	NOUN
afbr-403	300	2	analysis	analysis	NOUN
afbr-403	300	3	of	of	ADP
afbr-403	300	4	capital	capital	NOUN
afbr-403	300	5	structure	structure	NOUN
afbr-403	300	6	and	and	CCONJ
afbr-403	300	7	firms	firm	NOUN
afbr-403	300	8	’	’	PART
afbr-403	300	9	performance	performance	NOUN
afbr-403	300	10	in	in	ADP
afbr-403	300	11	nigeria	nigeria	PROPN
afbr-403	300	12	.	.	PUNCT
afbr-403	301	1	east	east	PROPN
afbr-403	301	2	ukrainian	ukrainian	PROPN
afbr-403	301	3	national	national	PROPN
afbr-403	301	4	university	university	PROPN
afbr-403	301	5	(	(	PUNCT
afbr-403	301	6	vol	vol	NOUN
afbr-403	301	7	.	.	PUNCT
afbr-403	301	8	dahl	dahl	PROPN
afbr-403	301	9	)	)	PUNCT
afbr-403	301	10	91034	91034	NUM
afbr-403	301	11	lugansk	lugansk	NOUN
afbr-403	301	12	,	,	PUNCT
afbr-403	301	13	ukraine	ukraine	PROPN
afbr-403	301	14	binsbergen	binsbergen	PROPN
afbr-403	301	15	,	,	PUNCT
afbr-403	301	16	j.	j.	PROPN
afbr-403	301	17	h.	h.	PROPN
afbr-403	301	18	,	,	PUNCT
afbr-403	301	19	graham	graham	PROPN
afbr-403	301	20	,	,	PUNCT
afbr-403	301	21	j.	j.	PROPN
afbr-403	301	22	r.	r.	PROPN
afbr-403	301	23	,	,	PUNCT
afbr-403	301	24	&	&	CCONJ
afbr-403	301	25	yang	yang	PROPN
afbr-403	301	26	,	,	PUNCT
afbr-403	301	27	j.	j.	PROPN
afbr-403	301	28	(	(	PUNCT
afbr-403	301	29	2011	2011	NUM
afbr-403	301	30	)	)	PUNCT
afbr-403	301	31	.	.	PUNCT
afbr-403	302	1	an	an	DET
afbr-403	302	2	empirical	empirical	ADJ
afbr-403	302	3	model	model	NOUN
afbr-403	302	4	of	of	ADP
afbr-403	302	5	optimal	optimal	ADJ
afbr-403	302	6	capital	capital	NOUN
afbr-403	302	7	structure	structure	NOUN
afbr-403	302	8	.	.	PUNCT
afbr-403	303	1	journal	journal	PROPN
afbr-403	303	2	of	of	ADP
afbr-403	303	3	applied	apply	VERB
afbr-403	303	4	corporate	corporate	ADJ
afbr-403	303	5	finance	finance	NOUN
afbr-403	303	6	,	,	PUNCT
afbr-403	303	7	23	23	NUM
afbr-403	303	8	(	(	PUNCT
afbr-403	303	9	4	4	NUM
afbr-403	303	10	)	)	PUNCT
afbr-403	303	11	,	,	PUNCT
afbr-403	303	12	34	34	NUM
afbr-403	303	13	-	-	SYM
afbr-403	303	14	59	59	NUM
afbr-403	303	15	.	.	PUNCT
afbr-403	303	16	chandrasekharan	chandrasekharan	PROPN
afbr-403	303	17	,	,	PUNCT
afbr-403	303	18	c.	c.	PROPN
afbr-403	303	19	v.	v.	PROPN
afbr-403	303	20	,	,	PUNCT
afbr-403	303	21	(	(	PUNCT
afbr-403	303	22	2012	2012	NUM
afbr-403	303	23	)	)	PUNCT
afbr-403	303	24	.	.	PUNCT
afbr-403	304	1	determinant	determinant	ADJ
afbr-403	304	2	of	of	ADP
afbr-403	304	3	capital	capital	NOUN
afbr-403	304	4	structure	structure	NOUN
afbr-403	304	5	in	in	ADP
afbr-403	304	6	the	the	DET
afbr-403	304	7	nigerian	nigerian	ADJ
afbr-403	304	8	listed	list	VERB
afbr-403	304	9	firms	firm	NOUN
afbr-403	304	10	.	.	PUNCT
afbr-403	305	1	international	international	ADJ
afbr-403	305	2	journal	journal	NOUN
afbr-403	305	3	of	of	ADP
afbr-403	305	4	advanced	advanced	ADJ
afbr-403	305	5	research	research	NOUN
afbr-403	305	6	in	in	ADP
afbr-403	305	7	management	management	NOUN
afbr-403	305	8	and	and	CCONJ
afbr-403	305	9	social	social	ADJ
afbr-403	305	10	sciences	science	NOUN
afbr-403	305	11	:	:	PUNCT
afbr-403	305	12	1	1	NUM
afbr-403	305	13	(	(	PUNCT
afbr-403	305	14	2	2	NUM
afbr-403	305	15	)	)	PUNCT
afbr-403	305	16	,	,	PUNCT
afbr-403	305	17	34	34	NUM
afbr-403	305	18	56	56	NUM
afbr-403	305	19	.	.	PUNCT
afbr-403	306	1	cheng	cheng	PROPN
afbr-403	306	2	,	,	PUNCT
afbr-403	306	3	m	m	PROPN
afbr-403	306	4	-	-	PROPN
afbr-403	306	5	c.	c.	PROPN
afbr-403	306	6	&	&	CCONJ
afbr-403	306	7	tzeng	tzeng	PROPN
afbr-403	306	8	,	,	PUNCT
afbr-403	306	9	z	z	PROPN
afbr-403	306	10	-	-	PUNCT
afbr-403	306	11	c.	c.	NOUN
afbr-403	306	12	(	(	PUNCT
afbr-403	306	13	2011	2011	NUM
afbr-403	306	14	)	)	PUNCT
afbr-403	306	15	.	.	PUNCT
afbr-403	307	1	the	the	DET
afbr-403	307	2	effect	effect	NOUN
afbr-403	307	3	of	of	ADP
afbr-403	307	4	leverage	leverage	NOUN
afbr-403	307	5	on	on	ADP
afbr-403	307	6	firm	firm	ADJ
afbr-403	307	7	value	value	NOUN
afbr-403	307	8	and	and	CCONJ
afbr-403	307	9	how	how	SCONJ
afbr-403	307	10	the	the	DET
afbr-403	307	11	firm	firm	ADJ
afbr-403	307	12	financial	financial	ADJ
afbr-403	307	13	quality	quality	NOUN
afbr-403	307	14	influence	influence	NOUN
afbr-403	307	15	on	on	ADP
afbr-403	307	16	this	this	DET
afbr-403	307	17	effect	effect	NOUN
afbr-403	307	18	.	.	PUNCT
afbr-403	308	1	world	world	PROPN
afbr-403	308	2	journal	journal	PROPN
afbr-403	308	3	of	of	ADP
afbr-403	308	4	management	management	NOUN
afbr-403	308	5	,	,	PUNCT
afbr-403	308	6	10	10	NUM
afbr-403	308	7	(	(	PUNCT
afbr-403	308	8	3	3	NUM
afbr-403	308	9	)	)	PUNCT
afbr-403	308	10	,	,	PUNCT
afbr-403	308	11	30	30	NUM
afbr-403	308	12	-	-	SYM
afbr-403	308	13	53	53	NUM
afbr-403	308	14	.	.	PUNCT
afbr-403	309	1	imad	imad	PROPN
afbr-403	309	2	,	,	PUNCT
afbr-403	309	3	z.	z.	PROPN
afbr-403	309	4	r.	r.	PROPN
afbr-403	309	5	,	,	PUNCT
afbr-403	309	6	(	(	PUNCT
afbr-403	309	7	2015	2015	NUM
afbr-403	309	8	)	)	PUNCT
afbr-403	309	9	.	.	PUNCT
afbr-403	310	1	leverage	leverage	NOUN
afbr-403	310	2	and	and	CCONJ
afbr-403	310	3	the	the	DET
afbr-403	310	4	jordanian	jordanian	ADJ
afbr-403	310	5	firms	firm	NOUN
afbr-403	310	6	’	'	PUNCT
afbr-403	310	7	value	value	NOUN
afbr-403	310	8	:	:	PUNCT
afbr-403	310	9	empirical	empirical	ADJ
afbr-403	310	10	evidence	evidence	NOUN
afbr-403	310	11	.	.	PUNCT
afbr-403	311	1	international	international	ADJ
afbr-403	311	2	journal	journal	PROPN
afbr-403	311	3	of	of	ADP
afbr-403	311	4	economics	economic	NOUN
afbr-403	311	5	and	and	CCONJ
afbr-403	311	6	finance	finance	NOUN
afbr-403	311	7	,	,	PUNCT
afbr-403	311	8	7(4	7(4	NUM
afbr-403	311	9	)	)	PUNCT
afbr-403	311	10	,	,	PUNCT
afbr-403	311	11	1	1	NUM
afbr-403	311	12	-	-	SYM
afbr-403	311	13	7	7	NUM
afbr-403	311	14	.	.	PUNCT
afbr-403	312	1	jang	jang	PROPN
afbr-403	312	2	,	,	PUNCT
afbr-403	312	3	s.	s.	PROPN
afbr-403	312	4	,	,	PUNCT
afbr-403	312	5	(	(	PUNCT
afbr-403	312	6	2011	2011	NUM
afbr-403	312	7	)	)	PUNCT
afbr-403	312	8	.	.	PUNCT
afbr-403	313	1	growth	growth	NOUN
afbr-403	313	2	-	-	PUNCT
afbr-403	313	3	focused	focus	VERB
afbr-403	313	4	or	or	CCONJ
afbr-403	313	5	profit	profit	NOUN
afbr-403	313	6	-	-	PUNCT
afbr-403	313	7	focused	focus	VERB
afbr-403	313	8	firms	firm	NOUN
afbr-403	313	9	:	:	PUNCT
afbr-403	313	10	transitions	transition	NOUN
afbr-403	313	11	toward	toward	ADP
afbr-403	313	12	profitable	profitable	ADJ
afbr-403	313	13	growth	growth	NOUN
afbr-403	313	14	.	.	PUNCT
afbr-403	314	1	tourism	tourism	NOUN
afbr-403	314	2	management	management	NOUN
afbr-403	314	3	32	32	NUM
afbr-403	314	4	(	(	PUNCT
afbr-403	314	5	3	3	NUM
afbr-403	314	6	)	)	PUNCT
afbr-403	314	7	,	,	PUNCT
afbr-403	314	8	667–674	667–674	NUM
afbr-403	314	9	.	.	PUNCT
afbr-403	315	1	ong	ong	INTJ
afbr-403	315	2	,	,	PUNCT
afbr-403	315	3	t.	t.	PROPN
afbr-403	315	4	s.	s.	PROPN
afbr-403	315	5	,	,	PUNCT
afbr-403	315	6	&	&	CCONJ
afbr-403	315	7	the	the	DET
afbr-403	315	8	,	,	PUNCT
afbr-403	315	9	b.	b.	PROPN
afbr-403	315	10	h.	h.	PROPN
afbr-403	315	11	,	,	PUNCT
afbr-403	315	12	(	(	PUNCT
afbr-403	315	13	2011	2011	NUM
afbr-403	315	14	)	)	PUNCT
afbr-403	315	15	.	.	PUNCT
afbr-403	316	1	capital	capital	NOUN
afbr-403	316	2	structure	structure	NOUN
afbr-403	316	3	and	and	CCONJ
afbr-403	316	4	corporate	corporate	ADJ
afbr-403	316	5	performance	performance	NOUN
afbr-403	316	6	of	of	ADP
afbr-403	316	7	malaysian	malaysian	ADJ
afbr-403	316	8	construction	construction	NOUN
afbr-403	316	9	sector	sector	NOUN
afbr-403	316	10	.	.	PUNCT
afbr-403	317	1	international	international	ADJ
afbr-403	317	2	journal	journal	PROPN
afbr-403	317	3	of	of	ADP
afbr-403	317	4	humanities	humanity	NOUN
afbr-403	317	5	and	and	CCONJ
afbr-403	317	6	social	social	ADJ
afbr-403	317	7	science	science	NOUN
afbr-403	317	8	1	1	NUM
afbr-403	317	9	(	(	PUNCT
afbr-403	317	10	2	2	NUM
afbr-403	317	11	)	)	PUNCT
afbr-403	317	12	,	,	PUNCT
afbr-403	317	13	34	34	NUM
afbr-403	317	14	56	56	NUM
afbr-403	317	15	.	.	PUNCT
afbr-403	318	1	patel	patel	PROPN
afbr-403	318	2	,	,	PUNCT
afbr-403	318	3	n.	n.	PROPN
afbr-403	318	4	m.	m.	NOUN
afbr-403	318	5	,	,	PUNCT
afbr-403	318	6	&	&	CCONJ
afbr-403	318	7	bhatt	bhatt	PROPN
afbr-403	318	8	,	,	PUNCT
afbr-403	318	9	v.	v.	PROPN
afbr-403	318	10	,	,	PUNCT
afbr-403	318	11	(	(	PUNCT
afbr-403	318	12	2013	2013	NUM
afbr-403	318	13	)	)	PUNCT
afbr-403	318	14	.	.	PUNCT
afbr-403	319	1	capital	capital	NOUN
afbr-403	319	2	structure	structure	NOUN
afbr-403	319	3	and	and	CCONJ
afbr-403	319	4	profitability	profitability	NOUN
afbr-403	319	5	:	:	PUNCT
afbr-403	319	6	case	case	NOUN
afbr-403	319	7	of	of	ADP
afbr-403	319	8	national	national	ADJ
afbr-403	319	9	stock	stock	PROPN
afbr-403	319	10	exchange	exchange	PROPN
afbr-403	319	11	.	.	PUNCT
afbr-403	320	1	indian	indian	ADJ
afbr-403	320	2	journal	journal	PROPN
afbr-403	320	3	of	of	ADP
afbr-403	320	4	applied	apply	VERB
afbr-403	320	5	research	research	NOUN
afbr-403	320	6	,	,	PUNCT
afbr-403	320	7	3	3	NUM
afbr-403	320	8	(	(	PUNCT
afbr-403	320	9	4	4	NUM
afbr-403	320	10	)	)	PUNCT
afbr-403	320	11	,	,	PUNCT
afbr-403	320	12	276	276	NUM
afbr-403	320	13	-	-	SYM
afbr-403	320	14	260	260	NUM
afbr-403	320	15	.	.	PUNCT
afbr-403	321	1	copyright	copyright	NOUN
afbr-403	321	2	©	©	PROPN
afbr-403	321	3	cc	cc	PROPN
afbr-403	321	4	-	-	PUNCT
afbr-403	321	5	by	by	ADP
afbr-403	321	6	-	-	PUNCT
afbr-403	321	7	nc	nc	PROPN
afbr-403	321	8	2019	2019	NUM
afbr-403	321	9	,	,	PUNCT
afbr-403	321	10	cribfb	cribfb	PROPN
afbr-403	321	11	|	|	ADV
afbr-403	321	12	afbr	afbr	PROPN
afbr-403	321	13	www.cribfb.com/journal/index.php/afbr	www.cribfb.com/journal/index.php/afbr	ADJ
afbr-403	321	14	australian	australian	ADJ
afbr-403	321	15	finance	finance	PROPN
afbr-403	321	16	&	&	CCONJ
afbr-403	321	17	banking	banking	PROPN
afbr-403	321	18	review	review	PROPN
afbr-403	321	19	vol	vol	NOUN
afbr-403	321	20	.	.	PROPN
afbr-403	322	1	3	3	NUM
afbr-403	322	2	,	,	PUNCT
afbr-403	322	3	no	no	INTJ
afbr-403	322	4	.	.	NOUN
afbr-403	322	5	2	2	NUM
afbr-403	322	6	;	;	PUNCT
afbr-403	322	7	2019	2019	NUM
afbr-403	322	8	15	15	NUM
afbr-403	322	9	pouraghajan	pouraghajan	NOUN
afbr-403	322	10	,	,	PUNCT
afbr-403	322	11	m.	m.	NOUN
afbr-403	322	12	,	,	PUNCT
afbr-403	322	13	emamgholipour	emamgholipour	PROPN
afbr-403	322	14	,	,	PUNCT
afbr-403	322	15	l.	l.	PROPN
afbr-403	322	16	,	,	PUNCT
afbr-403	322	17	and	and	CCONJ
afbr-403	322	18	bagheri	bagheri	PROPN
afbr-403	322	19	,	,	PUNCT
afbr-403	322	20	u.	u.	PROPN
afbr-403	322	21	,	,	PUNCT
afbr-403	322	22	(	(	PUNCT
afbr-403	322	23	2012	2012	NUM
afbr-403	322	24	)	)	PUNCT
afbr-403	322	25	.	.	PUNCT
afbr-403	323	1	the	the	DET
afbr-403	323	2	relationship	relationship	NOUN
afbr-403	323	3	between	between	ADP
afbr-403	323	4	capital	capital	NOUN
afbr-403	323	5	structure	structure	NOUN
afbr-403	323	6	and	and	CCONJ
afbr-403	323	7	firm	firm	ADJ
afbr-403	323	8	performance	performance	NOUN
afbr-403	323	9	evaluation	evaluation	NOUN
afbr-403	323	10	measures	measure	NOUN
afbr-403	323	11	:	:	PUNCT
afbr-403	323	12	evidence	evidence	NOUN
afbr-403	323	13	from	from	ADP
afbr-403	323	14	the	the	DET
afbr-403	323	15	tehran	tehran	PROPN
afbr-403	323	16	stock	stock	PROPN
afbr-403	323	17	exchange	exchange	PROPN
afbr-403	323	18	.	.	PUNCT
afbr-403	324	1	international	international	ADJ
afbr-403	324	2	journal	journal	PROPN
afbr-403	324	3	of	of	ADP
afbr-403	324	4	business	business	NOUN
afbr-403	324	5	and	and	CCONJ
afbr-403	324	6	comm	comm	NOUN
afbr-403	324	7	1	1	NUM
afbr-403	324	8	(	(	PUNCT
afbr-403	324	9	9	9	NUM
afbr-403	324	10	)	)	PUNCT
afbr-403	324	11	,	,	PUNCT
afbr-403	324	12	166	166	NUM
afbr-403	324	13	181	181	NUM
afbr-403	324	14	.	.	PUNCT
afbr-403	325	1	puwanenthiren	puwanenthiren	NOUN
afbr-403	325	2	,	,	PUNCT
afbr-403	325	3	p.	p.	PROPN
afbr-403	325	4	,	,	PUNCT
afbr-403	325	5	(	(	PUNCT
afbr-403	325	6	2011	2011	NUM
afbr-403	325	7	)	)	PUNCT
afbr-403	325	8	.	.	PUNCT
afbr-403	326	1	capital	capital	NOUN
afbr-403	326	2	structure	structure	NOUN
afbr-403	326	3	and	and	CCONJ
afbr-403	326	4	financial	financial	ADJ
afbr-403	326	5	performance	performance	NOUN
afbr-403	326	6	:	:	PUNCT
afbr-403	326	7	evidence	evidence	NOUN
afbr-403	326	8	from	from	ADP
afbr-403	326	9	listed	list	VERB
afbr-403	326	10	business	business	NOUN
afbr-403	326	11	companies	company	NOUN
afbr-403	326	12	in	in	ADP
afbr-403	326	13	colombo	colombo	NOUN
afbr-403	326	14	stock	stock	PROPN
afbr-403	326	15	exchange	exchange	PROPN
afbr-403	326	16	sri	sri	PROPN
afbr-403	326	17	lanka	lanka	PROPN
afbr-403	326	18	.	.	PUNCT
afbr-403	327	1	journal	journal	PROPN
afbr-403	327	2	of	of	ADP
afbr-403	327	3	arts	art	NOUN
afbr-403	327	4	,	,	PUNCT
afbr-403	327	5	science	science	PROPN
afbr-403	327	6	&	&	CCONJ
afbr-403	327	7	commerce	commerce	PROPN
afbr-403	327	8	.	.	PUNCT
afbr-403	328	1	saeed	saeed	PROPN
afbr-403	328	2	,	,	PUNCT
afbr-403	328	3	a.	a.	PROPN
afbr-403	328	4	,	,	PUNCT
afbr-403	328	5	&	&	CCONJ
afbr-403	328	6	badar	badar	PROPN
afbr-403	328	7	,	,	PUNCT
afbr-403	328	8	r.	r.	PROPN
afbr-403	328	9	,	,	PUNCT
afbr-403	328	10	(	(	PUNCT
afbr-403	328	11	2013	2013	NUM
afbr-403	328	12	)	)	PUNCT
afbr-403	328	13	.	.	PUNCT
afbr-403	329	1	impact	impact	NOUN
afbr-403	329	2	of	of	ADP
afbr-403	329	3	capital	capital	NOUN
afbr-403	329	4	structure	structure	NOUN
afbr-403	329	5	on	on	ADP
afbr-403	329	6	performance	performance	NOUN
afbr-403	329	7	empirical	empirical	ADJ
afbr-403	329	8	evidence	evidence	NOUN
afbr-403	329	9	from	from	ADP
afbr-403	329	10	sugar	sugar	NOUN
afbr-403	329	11	sector	sector	NOUN
afbr-403	329	12	of	of	ADP
afbr-403	329	13	pakistan	pakistan	PROPN
afbr-403	329	14	.	.	PUNCT
afbr-403	330	1	european	european	PROPN
afbr-403	330	2	journal	journal	PROPN
afbr-403	330	3	of	of	ADP
afbr-403	330	4	business	business	NOUN
afbr-403	330	5	and	and	CCONJ
afbr-403	330	6	management	management	NOUN
afbr-403	330	7	,	,	PUNCT
afbr-403	330	8	5	5	NUM
afbr-403	330	9	(	(	PUNCT
afbr-403	330	10	5	5	NUM
afbr-403	330	11	)	)	PUNCT
afbr-403	330	12	78	78	NUM
afbr-403	330	13	-	-	SYM
afbr-403	330	14	86	86	NUM
afbr-403	330	15	.	.	PUNCT
afbr-403	331	1	saeedi	saeedi	PROPN
afbr-403	331	2	,	,	PUNCT
afbr-403	331	3	a.	a.	NOUN
afbr-403	331	4	,	,	PUNCT
afbr-403	331	5	and	and	CCONJ
afbr-403	331	6	mahmoodi	mahmoodi	NOUN
afbr-403	331	7	,	,	PUNCT
afbr-403	331	8	i.	i.	PROPN
afbr-403	331	9	,	,	PUNCT
afbr-403	331	10	(	(	PUNCT
afbr-403	331	11	2011	2011	NUM
afbr-403	331	12	)	)	PUNCT
afbr-403	331	13	.	.	PUNCT
afbr-403	332	1	capital	capital	NOUN
afbr-403	332	2	structure	structure	NOUN
afbr-403	332	3	and	and	CCONJ
afbr-403	332	4	firm	firm	ADJ
afbr-403	332	5	performance	performance	NOUN
afbr-403	332	6	:	:	PUNCT
afbr-403	332	7	evidence	evidence	NOUN
afbr-403	332	8	from	from	ADP
afbr-403	332	9	iranian	iranian	ADJ
afbr-403	332	10	companies	company	NOUN
afbr-403	332	11	.	.	PUNCT
afbr-403	333	1	international	international	ADJ
afbr-403	333	2	research	research	NOUN
afbr-403	333	3	journal	journal	PROPN
afbr-403	333	4	and	and	CCONJ
afbr-403	333	5	economics	economic	NOUN
afbr-403	333	6	,	,	PUNCT
afbr-403	333	7	70	70	NUM
afbr-403	333	8	(	(	PUNCT
afbr-403	333	9	8),20	8),20	NUM
afbr-403	333	10	-	-	SYM
afbr-403	333	11	26	26	NUM
afbr-403	333	12	.	.	PUNCT
afbr-403	334	1	salim	salim	PROPN
afbr-403	334	2	,	,	PUNCT
afbr-403	334	3	m.	m.	NOUN
afbr-403	334	4	,	,	PUNCT
afbr-403	334	5	yadav	yadav	PROPN
afbr-403	334	6	,	,	PUNCT
afbr-403	334	7	r.	r.	PROPN
afbr-403	334	8	,	,	PUNCT
afbr-403	334	9	(	(	PUNCT
afbr-403	334	10	2012	2012	NUM
afbr-403	334	11	)	)	PUNCT
afbr-403	334	12	.	.	PUNCT
afbr-403	335	1	capital	capital	NOUN
afbr-403	335	2	structure	structure	NOUN
afbr-403	335	3	and	and	CCONJ
afbr-403	335	4	firm	firm	ADJ
afbr-403	335	5	performance	performance	NOUN
afbr-403	335	6	:	:	PUNCT
afbr-403	335	7	evidence	evidence	NOUN
afbr-403	335	8	from	from	ADP
afbr-403	335	9	malaysian	malaysian	ADJ
afbr-403	335	10	listed	list	VERB
afbr-403	335	11	companies	company	NOUN
afbr-403	335	12	,	,	PUNCT
afbr-403	335	13	.	.	PUNCT
afbr-403	336	1	procedia	procedia	PROPN
afbr-403	336	2	social	social	ADJ
afbr-403	336	3	and	and	CCONJ
afbr-403	336	4	behavioral	behavioral	ADJ
afbr-403	336	5	sciences	science	NOUN
afbr-403	336	6	65	65	NUM
afbr-403	336	7	,	,	PUNCT
afbr-403	336	8	156	156	NUM
afbr-403	336	9	–	–	SYM
afbr-403	336	10	166	166	NUM
afbr-403	336	11	.	.	PUNCT
afbr-403	336	12	salteh	salteh	NOUN
afbr-403	336	13	,	,	PUNCT
afbr-403	336	14	h.	h.	PROPN
afbr-403	336	15	m.	m.	PROPN
afbr-403	336	16	,	,	PUNCT
afbr-403	336	17	ghanavati	ghanavati	PROPN
afbr-403	336	18	,	,	PUNCT
afbr-403	336	19	e.	e.	PROPN
afbr-403	336	20	,	,	PUNCT
afbr-403	336	21	khanqah	khanqah	PROPN
afbr-403	336	22	,	,	PUNCT
afbr-403	336	23	v.	v.	PROPN
afbr-403	336	24	t.	t.	PROPN
afbr-403	336	25	,	,	PUNCT
afbr-403	336	26	&	&	CCONJ
afbr-403	336	27	khosroshahi	khosroshahi	PROPN
afbr-403	336	28	,	,	PUNCT
afbr-403	336	29	m.	m.	NOUN
afbr-403	336	30	a.	a.	PROPN
afbr-403	336	31	,	,	PUNCT
afbr-403	336	32	(	(	PUNCT
afbr-403	336	33	2012	2012	NUM
afbr-403	336	34	)	)	PUNCT
afbr-403	336	35	.	.	PUNCT
afbr-403	337	1	capital	capital	NOUN
afbr-403	337	2	structure	structure	NOUN
afbr-403	337	3	and	and	CCONJ
afbr-403	337	4	firm	firm	ADJ
afbr-403	337	5	performance	performance	NOUN
afbr-403	337	6	;	;	PUNCT
afbr-403	337	7	evidence	evidence	NOUN
afbr-403	337	8	from	from	ADP
afbr-403	337	9	tehran	tehran	PROPN
afbr-403	337	10	stock	stock	PROPN
afbr-403	337	11	exchange	exchange	PROPN
afbr-403	337	12	.	.	PUNCT
afbr-403	338	1	international	international	ADJ
afbr-403	338	2	proceedings	proceeding	NOUN
afbr-403	338	3	of	of	ADP
afbr-403	338	4	economics	economics	PROPN
afbr-403	338	5	development	development	PROPN
afbr-403	338	6	&	&	CCONJ
afbr-403	338	7	research	research	PROPN
afbr-403	338	8	,	,	PUNCT
afbr-403	338	9	43	43	NUM
afbr-403	338	10	(	(	PUNCT
afbr-403	338	11	8),225	8),225	NUM
afbr-403	338	12	-	-	SYM
afbr-403	338	13	230	230	NUM
afbr-403	338	14	.	.	PUNCT
afbr-403	339	1	san	san	PROPN
afbr-403	339	2	,	,	PUNCT
afbr-403	339	3	o.	o.	PROPN
afbr-403	339	4	t.	t.	PROPN
afbr-403	339	5	,	,	PUNCT
afbr-403	339	6	&	&	CCONJ
afbr-403	339	7	heng	heng	PROPN
afbr-403	339	8	,	,	PUNCT
afbr-403	339	9	t.	t.	PROPN
afbr-403	339	10	b.	b.	PROPN
afbr-403	339	11	,	,	PUNCT
afbr-403	339	12	(	(	PUNCT
afbr-403	339	13	2011	2011	NUM
afbr-403	339	14	)	)	PUNCT
afbr-403	339	15	.	.	PUNCT
afbr-403	340	1	capital	capital	NOUN
afbr-403	340	2	structure	structure	NOUN
afbr-403	340	3	and	and	CCONJ
afbr-403	340	4	corporate	corporate	ADJ
afbr-403	340	5	performance	performance	NOUN
afbr-403	340	6	of	of	ADP
afbr-403	340	7	malaysian	malaysian	ADJ
afbr-403	340	8	construction	construction	NOUN
afbr-403	340	9	sector	sector	NOUN
afbr-403	340	10	.	.	PUNCT
afbr-403	341	1	international	international	ADJ
afbr-403	341	2	journal	journal	PROPN
afbr-403	341	3	of	of	ADP
afbr-403	341	4	humanities	humanity	NOUN
afbr-403	341	5	and	and	CCONJ
afbr-403	341	6	social	social	ADJ
afbr-403	341	7	science	science	NOUN
afbr-403	341	8	,	,	PUNCT
afbr-403	341	9	1	1	NUM
afbr-403	341	10	(	(	PUNCT
afbr-403	341	11	2	2	NUM
afbr-403	341	12	)	)	PUNCT
afbr-403	341	13	,	,	PUNCT
afbr-403	341	14	28	28	NUM
afbr-403	341	15	-	-	SYM
afbr-403	341	16	36	36	NUM
afbr-403	341	17	.	.	PUNCT
afbr-403	342	1	semiu	semiu	PROPN
afbr-403	342	2	,	,	PUNCT
afbr-403	342	3	b.	b.	PROPN
afbr-403	342	4	a.	a.	PROPN
afbr-403	342	5	and	and	CCONJ
afbr-403	342	6	collins	collins	PROPN
afbr-403	342	7	,	,	PUNCT
afbr-403	342	8	s.	s.	PROPN
afbr-403	342	9	o.	o.	PROPN
afbr-403	342	10	(	(	PUNCT
afbr-403	342	11	2011).perceived	2011).perceive	VERB
afbr-403	342	12	relationship	relationship	NOUN
afbr-403	342	13	between	between	ADP
afbr-403	342	14	corporate	corporate	ADJ
afbr-403	342	15	capital	capital	NOUN
afbr-403	342	16	structure	structure	NOUN
afbr-403	342	17	and	and	CCONJ
afbr-403	342	18	firm	firm	ADJ
afbr-403	342	19	value	value	NOUN
afbr-403	342	20	in	in	ADP
afbr-403	342	21	nigeria.international	nigeria.international	ADJ
afbr-403	342	22	journal	journal	NOUN
afbr-403	342	23	of	of	ADP
afbr-403	342	24	business	business	NOUN
afbr-403	342	25	and	and	CCONJ
afbr-403	342	26	social	social	ADJ
afbr-403	342	27	science	science	NOUN
afbr-403	342	28	vol	vol	NOUN
afbr-403	342	29	.	.	PROPN
afbr-403	342	30	2	2	NUM
afbr-403	342	31	no	no	NOUN
afbr-403	342	32	.	.	NOUN
afbr-403	342	33	19	19	NUM
afbr-403	342	34	(	(	PUNCT
afbr-403	342	35	special	special	ADJ
afbr-403	342	36	issue	issue	NOUN
afbr-403	342	37	october	october	PROPN
afbr-403	342	38	2011	2011	NUM
afbr-403	342	39	)	)	PUNCT
afbr-403	342	40	shibru	shibru	NOUN
afbr-403	342	41	,	,	PUNCT
afbr-403	342	42	w.	w.	PROPN
afbr-403	342	43	,	,	PUNCT
afbr-403	342	44	(	(	PUNCT
afbr-403	342	45	2012	2012	NUM
afbr-403	342	46	)	)	PUNCT
afbr-403	342	47	determinants	determinant	NOUN
afbr-403	342	48	of	of	ADP
afbr-403	342	49	capital	capital	NOUN
afbr-403	342	50	structure	structure	NOUN
afbr-403	342	51	of	of	ADP
afbr-403	342	52	commercial	commercial	ADJ
afbr-403	342	53	banks	bank	NOUN
afbr-403	342	54	in	in	ADP
afbr-403	342	55	ethiopia	ethiopia	PROPN
afbr-403	342	56	.	.	PUNCT
afbr-403	343	1	master‘s	master‘s	PROPN
afbr-403	343	2	thesis	thesis	NOUN
afbr-403	343	3	,	,	PUNCT
afbr-403	343	4	addis	addis	PROPN
afbr-403	343	5	taiwo	taiwo	PROPN
afbr-403	343	6	,	,	PUNCT
afbr-403	343	7	a.	a.	NOUN
afbr-403	343	8	m.	m.	NOUN
afbr-403	343	9	,	,	PUNCT
afbr-403	343	10	(	(	PUNCT
afbr-403	343	11	2012	2012	NUM
afbr-403	343	12	)	)	PUNCT
afbr-403	343	13	.	.	PUNCT
afbr-403	344	1	an	an	DET
afbr-403	344	2	empirical	empirical	ADJ
afbr-403	344	3	analysis	analysis	NOUN
afbr-403	344	4	of	of	ADP
afbr-403	344	5	capital	capital	NOUN
afbr-403	344	6	structure	structure	NOUN
afbr-403	344	7	on	on	ADP
afbr-403	344	8	firms	firm	NOUN
afbr-403	344	9	’	’	PART
afbr-403	344	10	performance	performance	NOUN
afbr-403	344	11	in	in	ADP
afbr-403	344	12	nigeria	nigeria	PROPN
afbr-403	344	13	,	,	PUNCT
afbr-403	344	14	international	international	ADJ
afbr-403	344	15	journal	journal	NOUN
afbr-403	344	16	of	of	ADP
afbr-403	344	17	advances	advance	NOUN
afbr-403	344	18	in	in	ADP
afbr-403	344	19	management	management	NOUN
afbr-403	344	20	and	and	CCONJ
afbr-403	344	21	economics.1	economics.1	NOUN
afbr-403	344	22	(	(	PUNCT
afbr-403	344	23	5	5	NUM
afbr-403	344	24	)	)	PUNCT
afbr-403	344	25	,	,	PUNCT
afbr-403	344	26	116124	116124	NUM
afbr-403	344	27	tongkong	tongkong	NOUN
afbr-403	344	28	,	,	PUNCT
afbr-403	344	29	s.	s.	PROPN
afbr-403	344	30	,	,	PUNCT
afbr-403	344	31	(	(	PUNCT
afbr-403	344	32	2012	2012	NUM
afbr-403	344	33	)	)	PUNCT
afbr-403	344	34	.	.	PUNCT
afbr-403	345	1	key	key	ADJ
afbr-403	345	2	factors	factor	NOUN
afbr-403	345	3	influencing	influence	VERB
afbr-403	345	4	capital	capital	NOUN
afbr-403	345	5	structure	structure	NOUN
afbr-403	345	6	decision	decision	NOUN
afbr-403	345	7	and	and	CCONJ
afbr-403	345	8	its	its	PRON
afbr-403	345	9	speed	speed	NOUN
afbr-403	345	10	of	of	ADP
afbr-403	345	11	adjustment	adjustment	NOUN
afbr-403	345	12	of	of	ADP
afbr-403	345	13	thai	thai	PROPN
afbr-403	345	14	listed	list	VERB
afbr-403	345	15	real	real	ADJ
afbr-403	345	16	estate	estate	NOUN
afbr-403	345	17	companies	company	NOUN
afbr-403	345	18	procedia	procedia	NOUN
afbr-403	345	19	-	-	PUNCT
afbr-403	345	20	.	.	PUNCT
afbr-403	346	1	social	social	ADJ
afbr-403	346	2	and	and	CCONJ
afbr-403	346	3	behavioral	behavioral	ADJ
afbr-403	346	4	sciences	science	NOUN
afbr-403	346	5	40	40	NUM
afbr-403	346	6	,	,	PUNCT
afbr-403	346	7	716	716	NUM
afbr-403	346	8	–	–	PUNCT
afbr-403	346	9	720	720	NUM
afbr-403	346	10	.	.	X
afbr-403	347	1	umar	umar	PROPN
afbr-403	347	2	,	,	PUNCT
afbr-403	347	3	m.	m.	NOUN
afbr-403	347	4	,	,	PUNCT
afbr-403	347	5	tanveer	tanveer	PROPN
afbr-403	347	6	,	,	PUNCT
afbr-403	347	7	z.	z.	PROPN
afbr-403	347	8	,	,	PUNCT
afbr-403	347	9	aslam	aslam	PROPN
afbr-403	347	10	,	,	PUNCT
afbr-403	347	11	s.	s.	PROPN
afbr-403	347	12	,	,	PUNCT
afbr-403	347	13	&	&	CCONJ
afbr-403	347	14	sajid	sajid	PROPN
afbr-403	347	15	,	,	PUNCT
afbr-403	347	16	m.	m.	NOUN
afbr-403	347	17	,	,	PUNCT
afbr-403	347	18	(	(	PUNCT
afbr-403	347	19	2012	2012	NUM
afbr-403	347	20	)	)	PUNCT
afbr-403	347	21	.	.	PUNCT
afbr-403	348	1	impact	impact	NOUN
afbr-403	348	2	of	of	ADP
afbr-403	348	3	capital	capital	NOUN
afbr-403	348	4	structure	structure	NOUN
afbr-403	348	5	on	on	ADP
afbr-403	348	6	firms	firm	NOUN
afbr-403	348	7	’	'	PUNCT
afbr-403	348	8	financial	financial	ADJ
afbr-403	348	9	performance	performance	NOUN
afbr-403	348	10	:	:	PUNCT
afbr-403	348	11	evidence	evidence	NOUN
afbr-403	348	12	from	from	ADP
afbr-403	348	13	pakistan	pakistan	PROPN
afbr-403	348	14	.	.	PUNCT
afbr-403	349	1	research	research	NOUN
afbr-403	349	2	journal	journal	PROPN
afbr-403	349	3	of	of	ADP
afbr-403	349	4	finance	finance	NOUN
afbr-403	349	5	and	and	CCONJ
afbr-403	349	6	accounting	accounting	NOUN
afbr-403	349	7	,	,	PUNCT
afbr-403	349	8	3	3	NUM
afbr-403	349	9	(	(	PUNCT
afbr-403	349	10	9	9	NUM
afbr-403	349	11	)	)	PUNCT
afbr-403	349	12	,	,	PUNCT
afbr-403	349	13	133	133	NUM
afbr-403	349	14	-	-	SYM
afbr-403	349	15	149	149	NUM
afbr-403	349	16	.	.	PUNCT
afbr-403	350	1	velnampy	velnampy	NOUN
afbr-403	350	2	,	,	PUNCT
afbr-403	350	3	t.	t.	NOUN
afbr-403	350	4	,	,	PUNCT
afbr-403	350	5	and	and	CCONJ
afbr-403	350	6	niresh	niresh	PROPN
afbr-403	350	7	,	,	PUNCT
afbr-403	350	8	a.	a.	NOUN
afbr-403	350	9	,	,	PUNCT
afbr-403	350	10	(	(	PUNCT
afbr-403	350	11	2012	2012	NUM
afbr-403	350	12	)	)	PUNCT
afbr-403	350	13	.	.	PUNCT
afbr-403	351	1	the	the	DET
afbr-403	351	2	relationship	relationship	NOUN
afbr-403	351	3	between	between	ADP
afbr-403	351	4	capital	capital	NOUN
afbr-403	351	5	structure	structure	NOUN
afbr-403	351	6	&	&	CCONJ
afbr-403	351	7	profitability	profitability	PROPN
afbr-403	351	8	sri	sri	PROPN
afbr-403	351	9	lanka	lanka	PROPN
afbr-403	351	10	,	,	PUNCT
afbr-403	351	11	global	global	ADJ
afbr-403	351	12	journal	journal	NOUN
afbr-403	351	13	of	of	ADP
afbr-403	351	14	management	management	NOUN
afbr-403	351	15	and	and	CCONJ
afbr-403	351	16	business	business	NOUN
afbr-403	351	17	research	research	NOUN
afbr-403	351	18	12	12	NUM
afbr-403	351	19	(	(	PUNCT
afbr-403	351	20	7	7	NUM
afbr-403	351	21	)	)	PUNCT
afbr-403	351	22	,	,	PUNCT
afbr-403	351	23	4	4	NUM
afbr-403	351	24	-	-	SYM
afbr-403	351	25	8	8	NUM
afbr-403	351	26	.	.	PUNCT
afbr-403	351	27	vitor	vitor	PROPN
afbr-403	351	28	,	,	PUNCT
afbr-403	351	29	d.	d.	PROPN
afbr-403	351	30	a.	a.	PROPN
afbr-403	351	31	,	,	PUNCT
afbr-403	351	32	&	&	CCONJ
afbr-403	351	33	badu	badu	PROPN
afbr-403	351	34	,	,	PUNCT
afbr-403	351	35	j.	j.	PROPN
afbr-403	351	36	,	,	PUNCT
afbr-403	351	37	(	(	PUNCT
afbr-403	351	38	2012	2012	NUM
afbr-403	351	39	)	)	PUNCT
afbr-403	351	40	.	.	PUNCT
afbr-403	352	1	capital	capital	NOUN
afbr-403	352	2	structure	structure	NOUN
afbr-403	352	3	and	and	CCONJ
afbr-403	352	4	performance	performance	NOUN
afbr-403	352	5	of	of	ADP
afbr-403	352	6	listed	list	VERB
afbr-403	352	7	banks	bank	NOUN
afbr-403	352	8	in	in	ADP
afbr-403	352	9	ghana	ghana	PROPN
afbr-403	352	10	.	.	PUNCT
afbr-403	353	1	global	global	ADJ
afbr-403	353	2	journal	journal	PROPN
afbr-403	353	3	of	of	ADP
afbr-403	353	4	human	human	ADJ
afbr-403	353	5	social	social	ADJ
afbr-403	353	6	science	science	NOUN
afbr-403	353	7	,	,	PUNCT
afbr-403	353	8	12	12	NUM
afbr-403	353	9	(	(	PUNCT
afbr-403	353	10	5	5	NUM
afbr-403	353	11	)	)	PUNCT
afbr-403	353	12	,	,	PUNCT
afbr-403	353	13	57	57	NUM
afbr-403	353	14	-	-	SYM
afbr-403	353	15	62	62	NUM
afbr-403	353	16	.	.	PUNCT
afbr-403	354	1	xicang	xicang	PROPN
afbr-403	354	2	,	,	PUNCT
afbr-403	354	3	x.	x.	PROPN
afbr-403	354	4	,	,	PUNCT
afbr-403	354	5	samuel	samuel	PROPN
afbr-403	354	6	,	,	PUNCT
afbr-403	354	7	a.	a.	PROPN
afbr-403	354	8	,	,	PUNCT
afbr-403	354	9	&	&	CCONJ
afbr-403	354	10	ebenezer	ebenezer	PROPN
afbr-403	354	11	,	,	PUNCT
afbr-403	354	12	f.	f.	PROPN
afbr-403	354	13	e.	e.	PROPN
afbr-403	354	14	a.	a.	PROPN
afbr-403	354	15	m.	m.	PROPN
afbr-403	354	16	,	,	PUNCT
afbr-403	354	17	(	(	PUNCT
afbr-403	354	18	2012	2012	NUM
afbr-403	354	19	)	)	PUNCT
afbr-403	354	20	.	.	PUNCT
afbr-403	355	1	capital	capital	NOUN
afbr-403	355	2	structure	structure	NOUN
afbr-403	355	3	and	and	CCONJ
afbr-403	355	4	firm	firm	ADJ
afbr-403	355	5	value	value	NOUN
afbr-403	355	6	:	:	PUNCT
afbr-403	355	7	empirical	empirical	ADJ
afbr-403	355	8	evidence	evidence	NOUN
afbr-403	355	9	from	from	ADP
afbr-403	355	10	ghana	ghana	PROPN
afbr-403	355	11	.	.	PUNCT
afbr-403	356	1	international	international	ADJ
afbr-403	356	2	journal	journal	PROPN
afbr-403	356	3	of	of	ADP
afbr-403	356	4	business	business	NOUN
afbr-403	356	5	and	and	CCONJ
afbr-403	356	6	social	social	ADJ
afbr-403	356	7	science	science	NOUN
afbr-403	356	8	,	,	PUNCT
afbr-403	356	9	3	3	NUM
afbr-403	356	10	(	(	PUNCT
afbr-403	356	11	22),1	22),1	NUM
afbr-403	356	12	-	-	SYM
afbr-403	356	13	9	9	NUM
afbr-403	356	14	.	.	PUNCT
afbr-403	356	15	yuvaraj	yuvaraj	PROPN
afbr-403	356	16	,	,	PUNCT
afbr-403	356	17	s.	s.	PROPN
afbr-403	356	18	,	,	PUNCT
afbr-403	356	19	&	&	CCONJ
afbr-403	356	20	abate	abate	VERB
afbr-403	356	21	,	,	PUNCT
afbr-403	356	22	g.	g.	PROPN
afbr-403	356	23	,	,	PUNCT
afbr-403	356	24	(	(	PUNCT
afbr-403	356	25	2013	2013	NUM
afbr-403	356	26	)	)	PUNCT
afbr-403	356	27	.	.	PUNCT
afbr-403	357	1	the	the	DET
afbr-403	357	2	performance	performance	NOUN
afbr-403	357	3	of	of	ADP
afbr-403	357	4	insurance	insurance	NOUN
afbr-403	357	5	companies	company	NOUN
afbr-403	357	6	in	in	ADP
afbr-403	357	7	ethiopia	ethiopia	PROPN
afbr-403	357	8	:	:	PUNCT
afbr-403	357	9	international	international	ADJ
afbr-403	357	10	journal	journal	NOUN
afbr-403	357	11	of	of	ADP
afbr-403	357	12	marketing	marketing	NOUN
afbr-403	357	13	,	,	PUNCT
afbr-403	357	14	financial	financial	ADJ
afbr-403	357	15	services	service	NOUN
afbr-403	357	16	&	&	CCONJ
afbr-403	357	17	management	management	PROPN
afbr-403	357	18	research	research	NOUN
afbr-403	357	19	,	,	PUNCT
afbr-403	357	20	2	2	NUM
afbr-403	357	21	(	(	PUNCT
afbr-403	357	22	7	7	NUM
afbr-403	357	23	)	)	PUNCT
afbr-403	357	24	,	,	PUNCT
afbr-403	357	25	23	23	NUM
afbr-403	357	26	45	45	NUM
afbr-403	357	27	.	.	PUNCT
afbr-403	357	28	copyrights	copyright	VERB
afbr-403	357	29	copyright	copyright	NOUN
afbr-403	357	30	for	for	ADP
afbr-403	357	31	this	this	DET
afbr-403	357	32	article	article	NOUN
afbr-403	357	33	is	be	AUX
afbr-403	357	34	retained	retain	VERB
afbr-403	357	35	by	by	ADP
afbr-403	357	36	the	the	DET
afbr-403	357	37	author(s	author(s	PROPN
afbr-403	357	38	)	)	PUNCT
afbr-403	357	39	,	,	PUNCT
afbr-403	357	40	with	with	ADP
afbr-403	357	41	first	first	ADJ
afbr-403	357	42	publication	publication	NOUN
afbr-403	357	43	rights	right	NOUN
afbr-403	357	44	granted	grant	VERB
afbr-403	357	45	to	to	ADP
afbr-403	357	46	the	the	DET
afbr-403	357	47	journal	journal	NOUN
afbr-403	357	48	.	.	PUNCT
afbr-403	358	1	this	this	PRON
afbr-403	358	2	is	be	AUX
afbr-403	358	3	an	an	DET
afbr-403	358	4	open	open	ADJ
afbr-403	358	5	-	-	PUNCT
afbr-403	358	6	access	access	NOUN
afbr-403	358	7	article	article	NOUN
afbr-403	358	8	distributed	distribute	VERB
afbr-403	358	9	under	under	ADP
afbr-403	358	10	the	the	DET
afbr-403	358	11	terms	term	NOUN
afbr-403	358	12	and	and	CCONJ
afbr-403	358	13	conditions	condition	NOUN
afbr-403	358	14	of	of	ADP
afbr-403	358	15	the	the	DET
afbr-403	358	16	creative	creative	ADJ
afbr-403	358	17	commons	common	NOUN
afbr-403	358	18	attribution	attribution	NOUN
afbr-403	358	19	license	license	NOUN
afbr-403	358	20	(	(	PUNCT
afbr-403	358	21	http://creativecommons.org/licenses/by/4.0/	http://creativecommons.org/licenses/by/4.0/	PROPN
afbr-403	358	22	)	)	PUNCT
afbr-403	358	23	.	.	PUNCT