id	sid	tid	token	lemma	pos
economy-1236	1	1	82	82	NUM
economy-1236	2	1	©	©	PROPN
economy-1236	2	2	2019	2019	NUM
economy-1236	2	3	by	by	ADP
economy-1236	2	4	the	the	DET
economy-1236	2	5	authors	author	NOUN
economy-1236	2	6	;	;	PUNCT
economy-1236	2	7	licensee	licensee	PROPN
economy-1236	2	8	asian	asian	ADJ
economy-1236	2	9	online	online	PROPN
economy-1236	2	10	journal	journal	PROPN
economy-1236	2	11	publishing	publishing	NOUN
economy-1236	2	12	group	group	NOUN
economy-1236	2	13	economy	economy	NOUN
economy-1236	2	14	vol	vol	NOUN
economy-1236	2	15	.	.	PROPN
economy-1236	3	1	6	6	NUM
economy-1236	3	2	,	,	PUNCT
economy-1236	3	3	no	no	INTJ
economy-1236	3	4	.	.	NOUN
economy-1236	3	5	2	2	NUM
economy-1236	3	6	,	,	PUNCT
economy-1236	3	7	82	82	NUM
economy-1236	3	8	-	-	SYM
economy-1236	3	9	91	91	NUM
economy-1236	3	10	,	,	PUNCT
economy-1236	3	11	2019	2019	NUM
economy-1236	3	12	issn(e	issn(e	NOUN
economy-1236	3	13	)	)	PUNCT
economy-1236	3	14	2313	2313	NUM
economy-1236	3	15	-	-	SYM
economy-1236	3	16	8181/	8181/	NUM
economy-1236	3	17	issn(p	issn(p	NOUN
economy-1236	3	18	)	)	PUNCT
economy-1236	3	19	2518	2518	NUM
economy-1236	3	20	-	-	PUNCT
economy-1236	3	21	0118	0118	NUM
economy-1236	3	22	doi	doi	NOUN
economy-1236	3	23	:	:	PUNCT
economy-1236	3	24	10.20448	10.20448	NUM
economy-1236	3	25	/	/	SYM
economy-1236	3	26	journal.502.2019.62.82.91	journal.502.2019.62.82.91	PROPN
economy-1236	4	1	©	©	PROPN
economy-1236	4	2	2019	2019	NUM
economy-1236	4	3	by	by	ADP
economy-1236	4	4	the	the	DET
economy-1236	4	5	authors	author	NOUN
economy-1236	4	6	;	;	PUNCT
economy-1236	4	7	licensee	licensee	PROPN
economy-1236	4	8	asian	asian	ADJ
economy-1236	4	9	online	online	PROPN
economy-1236	4	10	journal	journal	PROPN
economy-1236	4	11	publishing	publishing	NOUN
economy-1236	4	12	group	group	NOUN
economy-1236	4	13	managerial	managerial	ADJ
economy-1236	4	14	optimism	optimism	NOUN
economy-1236	4	15	level	level	NOUN
economy-1236	4	16	,	,	PUNCT
economy-1236	4	17	board	board	NOUN
economy-1236	4	18	of	of	ADP
economy-1236	4	19	directors	director	NOUN
economy-1236	4	20	efficiency	efficiency	NOUN
economy-1236	4	21	and	and	CCONJ
economy-1236	4	22	debt	debt	NOUN
economy-1236	4	23	decision	decision	NOUN
economy-1236	4	24	in	in	ADP
economy-1236	4	25	tunisian	tunisian	ADJ
economy-1236	4	26	companies	company	NOUN
economy-1236	4	27	mohamed	mohamed	PROPN
economy-1236	4	28	ali	ali	PROPN
economy-1236	4	29	azouzi	azouzi	PROPN
economy-1236	4	30	doctor	doctor	PROPN
economy-1236	4	31	,	,	PUNCT
economy-1236	4	32	hdr	hdr	NOUN
economy-1236	4	33	and	and	CCONJ
economy-1236	4	34	assistant	assistant	NOUN
economy-1236	4	35	professor	professor	NOUN
economy-1236	4	36	in	in	ADP
economy-1236	4	37	finance	finance	NOUN
economy-1236	4	38	and	and	CCONJ
economy-1236	4	39	accounting	accounting	NOUN
economy-1236	4	40	methods	method	NOUN
economy-1236	4	41	,	,	PUNCT
economy-1236	4	42	faculty	faculty	NOUN
economy-1236	4	43	of	of	ADP
economy-1236	4	44	management	management	NOUN
economy-1236	4	45	,	,	PUNCT
economy-1236	4	46	university	university	PROPN
economy-1236	4	47	of	of	ADP
economy-1236	4	48	monastir	monastir	PROPN
economy-1236	4	49	sidi	sidi	PROPN
economy-1236	4	50	messaoud	messaoud	PROPN
economy-1236	4	51	,	,	PUNCT
economy-1236	4	52	mahdia	mahdia	PROPN
economy-1236	4	53	,	,	PUNCT
economy-1236	4	54	tunisia	tunisia	PROPN
economy-1236	4	55	.	.	PUNCT
economy-1236	5	1	abstract	abstract	ADJ
economy-1236	5	2	this	this	DET
economy-1236	5	3	article	article	NOUN
economy-1236	5	4	deals	deal	VERB
economy-1236	5	5	with	with	ADP
economy-1236	5	6	the	the	DET
economy-1236	5	7	relationship	relationship	NOUN
economy-1236	5	8	existing	exist	VERB
economy-1236	5	9	between	between	ADP
economy-1236	5	10	the	the	DET
economy-1236	5	11	emotional	emotional	ADJ
economy-1236	5	12	aspect	aspect	NOUN
economy-1236	5	13	and	and	CCONJ
economy-1236	5	14	decisionmaking	decisionmake	VERB
economy-1236	5	15	processes	process	NOUN
economy-1236	5	16	.	.	PUNCT
economy-1236	6	1	more	more	ADV
economy-1236	6	2	specifically	specifically	ADV
economy-1236	6	3	,	,	PUNCT
economy-1236	6	4	it	it	PRON
economy-1236	6	5	examines	examine	VERB
economy-1236	6	6	the	the	DET
economy-1236	6	7	links	link	NOUN
economy-1236	6	8	between	between	ADP
economy-1236	6	9	managerial	managerial	ADJ
economy-1236	6	10	optimism	optimism	NOUN
economy-1236	6	11	level	level	NOUN
economy-1236	6	12	,	,	PUNCT
economy-1236	6	13	debt	debt	NOUN
economy-1236	6	14	decision	decision	NOUN
economy-1236	6	15	and	and	CCONJ
economy-1236	6	16	board	board	NOUN
economy-1236	6	17	of	of	ADP
economy-1236	6	18	director	director	NOUN
economy-1236	6	19	’s	’s	PART
economy-1236	6	20	efficiency	efficiency	NOUN
economy-1236	6	21	.	.	PUNCT
economy-1236	7	1	this	this	DET
economy-1236	7	2	stream	stream	NOUN
economy-1236	7	3	of	of	ADP
economy-1236	7	4	research	research	NOUN
economy-1236	7	5	argues	argue	VERB
economy-1236	7	6	that	that	SCONJ
economy-1236	7	7	the	the	DET
economy-1236	7	8	ceo	ceo	NOUN
economy-1236	7	9	optimism	optimism	NOUN
economy-1236	7	10	level	level	NOUN
economy-1236	7	11	is	be	AUX
economy-1236	7	12	affected	affect	VERB
economy-1236	7	13	by	by	ADP
economy-1236	7	14	the	the	DET
economy-1236	7	15	board	board	NOUN
economy-1236	7	16	of	of	ADP
economy-1236	7	17	directors	director	NOUN
economy-1236	7	18	efficiency	efficiency	NOUN
economy-1236	7	19	.	.	PUNCT
economy-1236	8	1	in	in	ADP
economy-1236	8	2	this	this	DET
economy-1236	8	3	regard	regard	NOUN
economy-1236	8	4	,	,	PUNCT
economy-1236	8	5	an	an	DET
economy-1236	8	6	empirical	empirical	ADJ
economy-1236	8	7	study	study	NOUN
economy-1236	8	8	was	be	AUX
economy-1236	8	9	conducted	conduct	VERB
economy-1236	8	10	using	use	VERB
economy-1236	8	11	a	a	DET
economy-1236	8	12	questionnaire	questionnaire	NOUN
economy-1236	8	13	as	as	ADP
economy-1236	8	14	a	a	DET
economy-1236	8	15	data	data	NOUN
economy-1236	8	16	collection	collection	NOUN
economy-1236	8	17	method	method	NOUN
economy-1236	8	18	adapted	adapt	VERB
economy-1236	8	19	to	to	ADP
economy-1236	8	20	a	a	DET
economy-1236	8	21	sample	sample	NOUN
economy-1236	8	22	of	of	ADP
economy-1236	8	23	75	75	NUM
economy-1236	8	24	tunisian	tunisian	ADJ
economy-1236	8	25	firms	firm	NOUN
economy-1236	8	26	.	.	PUNCT
economy-1236	9	1	regarding	regard	VERB
economy-1236	9	2	,	,	PUNCT
economy-1236	9	3	the	the	DET
economy-1236	9	4	optimism	optimism	NOUN
economy-1236	9	5	level	level	NOUN
economy-1236	9	6	they	they	PRON
economy-1236	9	7	have	have	AUX
economy-1236	9	8	been	be	AUX
economy-1236	9	9	measured	measure	VERB
economy-1236	9	10	by	by	ADP
economy-1236	9	11	means	mean	NOUN
economy-1236	9	12	of	of	ADP
economy-1236	9	13	a	a	DET
economy-1236	9	14	questionnaire	questionnaire	NOUN
economy-1236	9	15	comprising	comprise	VERB
economy-1236	9	16	several	several	ADJ
economy-1236	9	17	items	item	NOUN
economy-1236	9	18	.	.	PUNCT
economy-1236	10	1	our	our	PRON
economy-1236	10	2	analyzes	analyze	NOUN
economy-1236	10	3	revealed	reveal	VERB
economy-1236	10	4	the	the	DET
economy-1236	10	5	importance	importance	NOUN
economy-1236	10	6	of	of	ADP
economy-1236	10	7	ceo	ceo	NOUN
economy-1236	10	8	optimism	optimism	NOUN
economy-1236	10	9	in	in	ADP
economy-1236	10	10	the	the	DET
economy-1236	10	11	debt	debt	NOUN
economy-1236	10	12	decision	decision	NOUN
economy-1236	10	13	.	.	PUNCT
economy-1236	11	1	it	it	PRON
economy-1236	11	2	has	have	AUX
economy-1236	11	3	been	be	AUX
economy-1236	11	4	found	find	VERB
economy-1236	11	5	that	that	SCONJ
economy-1236	11	6	an	an	DET
economy-1236	11	7	optimistic	optimistic	ADJ
economy-1236	11	8	leader	leader	NOUN
economy-1236	11	9	prefers	prefer	VERB
economy-1236	11	10	more	more	ADJ
economy-1236	11	11	debt	debt	NOUN
economy-1236	11	12	even	even	ADV
economy-1236	11	13	in	in	ADP
economy-1236	11	14	companies	company	NOUN
economy-1236	11	15	ruled	rule	VERB
economy-1236	11	16	by	by	ADP
economy-1236	11	17	independent	independent	ADJ
economy-1236	11	18	boards	board	NOUN
economy-1236	11	19	.	.	PUNCT
economy-1236	12	1	on	on	ADP
economy-1236	12	2	the	the	DET
economy-1236	12	3	other	other	ADJ
economy-1236	12	4	hand	hand	NOUN
economy-1236	12	5	,	,	PUNCT
economy-1236	12	6	the	the	DET
economy-1236	12	7	results	result	NOUN
economy-1236	12	8	’	'	PUNCT
economy-1236	12	9	analyzing	analyze	VERB
economy-1236	12	10	the	the	DET
economy-1236	12	11	hypotheses	hypothesis	NOUN
economy-1236	12	12	2	2	NUM
economy-1236	12	13	and	and	CCONJ
economy-1236	12	14	3	3	NUM
economy-1236	12	15	regarding	regard	VERB
economy-1236	12	16	the	the	DET
economy-1236	12	17	size	size	NOUN
economy-1236	12	18	of	of	ADP
economy-1236	12	19	the	the	DET
economy-1236	12	20	board	board	NOUN
economy-1236	12	21	and	and	CCONJ
economy-1236	12	22	the	the	DET
economy-1236	12	23	combination	combination	NOUN
economy-1236	12	24	of	of	ADP
economy-1236	12	25	ceo	ceo	NOUN
economy-1236	12	26	and	and	CCONJ
economy-1236	12	27	board	board	NOUN
economy-1236	12	28	chair	chair	NOUN
economy-1236	12	29	does	do	AUX
economy-1236	12	30	not	not	PART
economy-1236	12	31	confirm	confirm	VERB
economy-1236	12	32	our	our	PRON
economy-1236	12	33	theoretical	theoretical	ADJ
economy-1236	12	34	analysis	analysis	NOUN
economy-1236	12	35	.	.	PUNCT
economy-1236	13	1	keywords	keyword	NOUN
economy-1236	13	2	:	:	PUNCT
economy-1236	13	3	ceo	ceo	NOUN
economy-1236	13	4	optimism	optimism	NOUN
economy-1236	13	5	,	,	PUNCT
economy-1236	13	6	ceo	ceo	NOUN
economy-1236	13	7	education	education	NOUN
economy-1236	13	8	,	,	PUNCT
economy-1236	13	9	board	board	NOUN
economy-1236	13	10	of	of	ADP
economy-1236	13	11	directors	director	NOUN
economy-1236	13	12	,	,	PUNCT
economy-1236	13	13	duality	duality	NOUN
economy-1236	13	14	,	,	PUNCT
economy-1236	13	15	financial	financial	ADJ
economy-1236	13	16	policy	policy	NOUN
economy-1236	13	17	,	,	PUNCT
economy-1236	13	18	debt	debt	NOUN
economy-1236	13	19	level	level	NOUN
economy-1236	13	20	,	,	PUNCT
economy-1236	13	21	behavioral	behavioral	ADJ
economy-1236	13	22	corporate	corporate	ADJ
economy-1236	13	23	finance	finance	NOUN
economy-1236	13	24	.	.	PUNCT
economy-1236	14	1	jel	jel	PROPN
economy-1236	14	2	classification	classification	PROPN
economy-1236	14	3	:	:	PUNCT
economy-1236	14	4	d2	d2	PROPN
economy-1236	14	5	,	,	PUNCT
economy-1236	14	6	g3	g3	NOUN
economy-1236	14	7	,	,	PUNCT
economy-1236	14	8	l2	l2	NOUN
economy-1236	14	9	,	,	PUNCT
economy-1236	14	10	l5	l5	PROPN
economy-1236	14	11	,	,	PUNCT
economy-1236	14	12	m1	m1	PROPN
economy-1236	14	13	.	.	PUNCT
economy-1236	15	1	citation	citation	NOUN
economy-1236	15	2	|	|	PROPN
economy-1236	15	3	mohamed	mohamed	PROPN
economy-1236	15	4	ali	ali	PROPN
economy-1236	16	1	azouzi	azouzi	PROPN
economy-1236	16	2	(	(	PUNCT
economy-1236	16	3	2019	2019	NUM
economy-1236	16	4	)	)	PUNCT
economy-1236	16	5	.	.	PUNCT
economy-1236	17	1	managerial	managerial	ADJ
economy-1236	17	2	optimism	optimism	NOUN
economy-1236	17	3	level	level	NOUN
economy-1236	17	4	,	,	PUNCT
economy-1236	17	5	board	board	NOUN
economy-1236	17	6	of	of	ADP
economy-1236	17	7	directors	director	NOUN
economy-1236	17	8	efficiency	efficiency	NOUN
economy-1236	17	9	and	and	CCONJ
economy-1236	17	10	debt	debt	NOUN
economy-1236	17	11	decision	decision	NOUN
economy-1236	17	12	in	in	ADP
economy-1236	17	13	tunisian	tunisian	ADJ
economy-1236	17	14	companies	company	NOUN
economy-1236	17	15	.	.	PUNCT
economy-1236	18	1	economy	economy	NOUN
economy-1236	18	2	,	,	PUNCT
economy-1236	18	3	6(2	6(2	NUM
economy-1236	18	4	):	):	PUNCT
economy-1236	18	5	82	82	NUM
economy-1236	18	6	-	-	SYM
economy-1236	18	7	91	91	NUM
economy-1236	18	8	.	.	PUNCT
economy-1236	19	1	history	history	NOUN
economy-1236	19	2	:	:	PUNCT
economy-1236	19	3	received	receive	VERB
economy-1236	19	4	:	:	PUNCT
economy-1236	19	5	2	2	NUM
economy-1236	19	6	october	october	NOUN
economy-1236	19	7	2019	2019	NUM
economy-1236	19	8	revised	revise	VERB
economy-1236	19	9	:	:	PUNCT
economy-1236	19	10	5	5	NUM
economy-1236	19	11	november	november	PROPN
economy-1236	19	12	2019	2019	NUM
economy-1236	19	13	accepted	accept	VERB
economy-1236	19	14	:	:	PUNCT
economy-1236	19	15	9	9	NUM
economy-1236	19	16	december	december	PROPN
economy-1236	19	17	2019	2019	NUM
economy-1236	19	18	published	publish	VERB
economy-1236	19	19	:	:	PUNCT
economy-1236	19	20	17	17	NUM
economy-1236	19	21	january	january	PROPN
economy-1236	19	22	2020	2020	NUM
economy-1236	19	23	licensed	license	VERB
economy-1236	19	24	:	:	PUNCT
economy-1236	19	25	this	this	DET
economy-1236	19	26	work	work	NOUN
economy-1236	19	27	is	be	AUX
economy-1236	19	28	licensed	license	VERB
economy-1236	19	29	under	under	ADP
economy-1236	19	30	a	a	DET
economy-1236	19	31	creative	creative	ADJ
economy-1236	19	32	commons	common	NOUN
economy-1236	19	33	attribution	attribution	NOUN
economy-1236	19	34	3.0	3.0	NUM
economy-1236	19	35	license	license	NOUN
economy-1236	19	36	publisher	publisher	NOUN
economy-1236	19	37	:	:	PUNCT
economy-1236	19	38	asian	asian	ADJ
economy-1236	19	39	online	online	PROPN
economy-1236	19	40	journal	journal	PROPN
economy-1236	19	41	publishing	publishing	PROPN
economy-1236	19	42	group	group	PROPN
economy-1236	19	43	funding	funding	NOUN
economy-1236	19	44	:	:	PUNCT
economy-1236	19	45	this	this	DET
economy-1236	19	46	study	study	NOUN
economy-1236	19	47	received	receive	VERB
economy-1236	19	48	no	no	DET
economy-1236	19	49	specific	specific	ADJ
economy-1236	19	50	financial	financial	ADJ
economy-1236	19	51	support	support	NOUN
economy-1236	19	52	.	.	PUNCT
economy-1236	20	1	competing	compete	VERB
economy-1236	20	2	interests	interest	NOUN
economy-1236	20	3	:	:	PUNCT
economy-1236	20	4	the	the	DET
economy-1236	20	5	author	author	NOUN
economy-1236	20	6	declares	declare	VERB
economy-1236	20	7	that	that	SCONJ
economy-1236	20	8	there	there	PRON
economy-1236	20	9	are	be	VERB
economy-1236	20	10	no	no	DET
economy-1236	20	11	conflicts	conflict	NOUN
economy-1236	20	12	of	of	ADP
economy-1236	20	13	interests	interest	NOUN
economy-1236	20	14	regarding	regard	VERB
economy-1236	20	15	the	the	DET
economy-1236	20	16	publication	publication	NOUN
economy-1236	20	17	of	of	ADP
economy-1236	20	18	this	this	DET
economy-1236	20	19	paper	paper	NOUN
economy-1236	20	20	.	.	PUNCT
economy-1236	21	1	transparency	transparency	NOUN
economy-1236	21	2	:	:	PUNCT
economy-1236	21	3	the	the	DET
economy-1236	21	4	author	author	NOUN
economy-1236	21	5	confirms	confirm	VERB
economy-1236	21	6	that	that	SCONJ
economy-1236	21	7	the	the	DET
economy-1236	21	8	manuscript	manuscript	NOUN
economy-1236	21	9	is	be	AUX
economy-1236	21	10	an	an	DET
economy-1236	21	11	honest	honest	ADJ
economy-1236	21	12	,	,	PUNCT
economy-1236	21	13	accurate	accurate	ADJ
economy-1236	21	14	,	,	PUNCT
economy-1236	21	15	and	and	CCONJ
economy-1236	21	16	transparent	transparent	ADJ
economy-1236	21	17	account	account	NOUN
economy-1236	21	18	of	of	ADP
economy-1236	21	19	the	the	DET
economy-1236	21	20	study	study	NOUN
economy-1236	21	21	was	be	AUX
economy-1236	21	22	reported	report	VERB
economy-1236	21	23	;	;	PUNCT
economy-1236	21	24	that	that	SCONJ
economy-1236	21	25	no	no	DET
economy-1236	21	26	vital	vital	ADJ
economy-1236	21	27	features	feature	NOUN
economy-1236	21	28	of	of	ADP
economy-1236	21	29	the	the	DET
economy-1236	21	30	study	study	NOUN
economy-1236	21	31	have	have	AUX
economy-1236	21	32	been	be	AUX
economy-1236	21	33	omitted	omit	VERB
economy-1236	21	34	;	;	PUNCT
economy-1236	21	35	and	and	CCONJ
economy-1236	21	36	that	that	SCONJ
economy-1236	21	37	any	any	DET
economy-1236	21	38	discrepancies	discrepancy	NOUN
economy-1236	21	39	from	from	ADP
economy-1236	21	40	the	the	DET
economy-1236	21	41	study	study	NOUN
economy-1236	21	42	as	as	SCONJ
economy-1236	21	43	planned	plan	VERB
economy-1236	21	44	have	have	AUX
economy-1236	21	45	been	be	AUX
economy-1236	21	46	explained	explain	VERB
economy-1236	21	47	.	.	PUNCT
economy-1236	22	1	ethical	ethical	ADJ
economy-1236	22	2	:	:	PUNCT
economy-1236	22	3	this	this	DET
economy-1236	22	4	study	study	NOUN
economy-1236	22	5	follows	follow	VERB
economy-1236	22	6	all	all	DET
economy-1236	22	7	ethical	ethical	ADJ
economy-1236	22	8	practices	practice	NOUN
economy-1236	22	9	during	during	ADP
economy-1236	22	10	writing	writing	NOUN
economy-1236	22	11	.	.	PUNCT
economy-1236	23	1	contents	content	NOUN
economy-1236	23	2	1	1	NUM
economy-1236	23	3	.	.	PUNCT
economy-1236	24	1	introduction	introduction	NOUN
economy-1236	24	2	...................................................................................................................................................................	...................................................................................................................................................................	PROPN
economy-1236	25	1	83	83	NUM
economy-1236	25	2	2	2	NUM
economy-1236	25	3	.	.	PUNCT
economy-1236	25	4	hypothesis	hypothesis	NOUN
economy-1236	25	5	development	development	NOUN
economy-1236	25	6	............................................................................................................................................	............................................................................................................................................	PUNCT
economy-1236	26	1	83	83	NUM
economy-1236	26	2	3	3	NUM
economy-1236	26	3	.	.	PUNCT
economy-1236	26	4	research	research	NOUN
economy-1236	26	5	method	method	NOUN
economy-1236	26	6	..........................................................................................................................................................	..........................................................................................................................................................	PUNCT
economy-1236	26	7	85	85	NUM
economy-1236	26	8	4	4	NUM
economy-1236	26	9	.	.	PUNCT
economy-1236	27	1	empirical	empirical	ADJ
economy-1236	27	2	results	result	NOUN
economy-1236	27	3	.........................................................................................................................................................	.........................................................................................................................................................	PUNCT
economy-1236	27	4	88	88	NUM
economy-1236	27	5	5	5	NUM
economy-1236	27	6	.	.	PUNCT
economy-1236	28	1	conclusion	conclusion	NOUN
economy-1236	28	2	......................................................................................................................................................................	......................................................................................................................................................................	PUNCT
economy-1236	29	1	89	89	NUM
economy-1236	29	2	references	reference	NOUN
economy-1236	29	3	..........................................................................................................................................................................	..........................................................................................................................................................................	PUNCT
economy-1236	30	1	90	90	NUM
economy-1236	30	2	http://crossmark.crossref.org/dialog/?doi=10.20448/journal.502.2019.62.82.91&domain=pdf&date_stamp=2017-01-14	http://crossmark.crossref.org/dialog/?doi=10.20448/journal.502.2019.62.82.91&domain=pdf&date_stamp=2017-01-14	PROPN
economy-1236	30	3	http://creativecommons.org/licenses/by/3.0/	http://creativecommons.org/licenses/by/3.0/	PROPN
economy-1236	30	4	http://creativecommons.org/licenses/by/3.0/	http://creativecommons.org/licenses/by/3.0/	PROPN
economy-1236	30	5	https://www.asianonlinejournals.com/index.php/economy/article/view/1236	https://www.asianonlinejournals.com/index.php/economy/article/view/1236	PROPN
economy-1236	30	6	https://orcid.org/0000-0002-1255-2131	https://orcid.org/0000-0002-1255-2131	PROPN
economy-1236	30	7	https://www.asianonlinejournals.com/index.php/economy/article/view/1236	https://www.asianonlinejournals.com/index.php/economy/article/view/1236	NUM
economy-1236	30	8	https://orcid.org/0000-0002-1255-2131	https://orcid.org/0000-0002-1255-2131	PROPN
economy-1236	30	9	https://www.asianonlinejournals.com/index.php/economy/article/view/1236	https://www.asianonlinejournals.com/index.php/economy/article/view/1236	PROPN
economy-1236	30	10	https://orcid.org/0000-0002-1255-2131	https://orcid.org/0000-0002-1255-2131	PROPN
economy-1236	30	11	economy	economy	NOUN
economy-1236	30	12	,	,	PUNCT
economy-1236	30	13	2019	2019	NUM
economy-1236	30	14	,	,	PUNCT
economy-1236	30	15	6(2	6(2	NUM
economy-1236	30	16	):	):	PUNCT
economy-1236	30	17	82	82	NUM
economy-1236	30	18	-	-	SYM
economy-1236	30	19	91	91	NUM
economy-1236	30	20	83	83	NUM
economy-1236	30	21	©	©	PROPN
economy-1236	30	22	2019	2019	NUM
economy-1236	30	23	by	by	ADP
economy-1236	30	24	the	the	DET
economy-1236	30	25	authors	author	NOUN
economy-1236	30	26	;	;	PUNCT
economy-1236	30	27	licensee	licensee	PROPN
economy-1236	30	28	asian	asian	ADJ
economy-1236	30	29	online	online	PROPN
economy-1236	30	30	journal	journal	PROPN
economy-1236	30	31	publishing	publishing	NOUN
economy-1236	30	32	group	group	NOUN
economy-1236	30	33	contribution	contribution	NOUN
economy-1236	30	34	of	of	ADP
economy-1236	30	35	this	this	DET
economy-1236	30	36	paper	paper	NOUN
economy-1236	30	37	to	to	ADP
economy-1236	30	38	the	the	DET
economy-1236	30	39	literature	literature	NOUN
economy-1236	30	40	in	in	ADP
economy-1236	30	41	fact	fact	NOUN
economy-1236	30	42	,	,	PUNCT
economy-1236	30	43	to	to	PART
economy-1236	30	44	improve	improve	VERB
economy-1236	30	45	the	the	DET
economy-1236	30	46	explanatory	explanatory	ADJ
economy-1236	30	47	power	power	NOUN
economy-1236	30	48	of	of	ADP
economy-1236	30	49	the	the	DET
economy-1236	30	50	legal	legal	ADJ
economy-1236	30	51	-	-	PUNCT
economy-1236	30	52	financial	financial	ADJ
economy-1236	30	53	approach	approach	NOUN
economy-1236	30	54	to	to	ADP
economy-1236	30	55	governance	governance	NOUN
economy-1236	30	56	,	,	PUNCT
economy-1236	30	57	the	the	DET
economy-1236	30	58	behavioral	behavioral	ADJ
economy-1236	30	59	dimension	dimension	NOUN
economy-1236	30	60	has	have	AUX
economy-1236	30	61	been	be	AUX
economy-1236	30	62	integrated	integrate	VERB
economy-1236	30	63	for	for	ADP
economy-1236	30	64	a	a	DET
economy-1236	30	65	more	more	ADJ
economy-1236	30	66	in	in	ADP
economy-1236	30	67	-	-	PUNCT
economy-1236	30	68	depth	depth	NOUN
economy-1236	30	69	analysis	analysis	NOUN
economy-1236	30	70	of	of	ADP
economy-1236	30	71	the	the	DET
economy-1236	30	72	role	role	NOUN
economy-1236	30	73	of	of	ADP
economy-1236	30	74	the	the	DET
economy-1236	30	75	board	board	NOUN
economy-1236	30	76	of	of	ADP
economy-1236	30	77	directors	director	NOUN
economy-1236	30	78	.	.	PUNCT
economy-1236	31	1	this	this	DET
economy-1236	31	2	study	study	NOUN
economy-1236	31	3	aims	aim	VERB
economy-1236	31	4	to	to	PART
economy-1236	31	5	highlight	highlight	VERB
economy-1236	31	6	the	the	DET
economy-1236	31	7	role	role	NOUN
economy-1236	31	8	played	play	VERB
economy-1236	31	9	by	by	ADP
economy-1236	31	10	manager	manager	NOUN
economy-1236	31	11	optimism	optimism	NOUN
economy-1236	31	12	on	on	ADP
economy-1236	31	13	board	board	NOUN
economy-1236	31	14	effectiveness	effectiveness	NOUN
economy-1236	31	15	in	in	ADP
economy-1236	31	16	controlling	control	VERB
economy-1236	31	17	the	the	DET
economy-1236	31	18	company	company	NOUN
economy-1236	31	19	's	's	PART
economy-1236	31	20	debt	debt	NOUN
economy-1236	31	21	level	level	NOUN
economy-1236	31	22	.	.	PUNCT
economy-1236	32	1	1	1	X
economy-1236	32	2	.	.	X
economy-1236	32	3	introduction	introduction	NOUN
economy-1236	32	4	since	since	SCONJ
economy-1236	32	5	the	the	DET
economy-1236	32	6	works	work	NOUN
economy-1236	32	7	of	of	ADP
economy-1236	32	8	modigliani	modigliani	PROPN
economy-1236	32	9	and	and	CCONJ
economy-1236	32	10	miller	miller	PROPN
economy-1236	32	11	(	(	PUNCT
economy-1236	32	12	1958	1958	NUM
economy-1236	32	13	)	)	PUNCT
economy-1236	32	14	which	which	PRON
economy-1236	32	15	prove	prove	VERB
economy-1236	32	16	the	the	DET
economy-1236	32	17	irrelevance	irrelevance	NOUN
economy-1236	32	18	of	of	ADP
economy-1236	32	19	financing	financing	NOUN
economy-1236	32	20	decisions	decision	NOUN
economy-1236	32	21	of	of	ADP
economy-1236	32	22	companies	company	NOUN
economy-1236	32	23	under	under	ADP
economy-1236	32	24	the	the	DET
economy-1236	32	25	conditions	condition	NOUN
economy-1236	32	26	of	of	ADP
economy-1236	32	27	the	the	DET
economy-1236	32	28	perfect	perfect	ADJ
economy-1236	32	29	market	market	NOUN
economy-1236	32	30	.	.	PUNCT
economy-1236	33	1	a	a	DET
economy-1236	33	2	large	large	ADJ
economy-1236	33	3	number	number	NOUN
economy-1236	33	4	of	of	ADP
economy-1236	33	5	theoretical	theoretical	ADJ
economy-1236	33	6	and	and	CCONJ
economy-1236	33	7	empirical	empirical	ADJ
economy-1236	33	8	analyzes	analyze	NOUN
economy-1236	33	9	have	have	AUX
economy-1236	33	10	been	be	AUX
economy-1236	33	11	developed	develop	VERB
economy-1236	33	12	to	to	PART
economy-1236	33	13	study	study	VERB
economy-1236	33	14	the	the	DET
economy-1236	33	15	determinants	determinant	NOUN
economy-1236	33	16	of	of	ADP
economy-1236	33	17	business	business	NOUN
economy-1236	33	18	financing	financing	NOUN
economy-1236	33	19	decisions	decision	NOUN
economy-1236	33	20	caused	cause	VERB
economy-1236	33	21	by	by	ADP
economy-1236	33	22	various	various	ADJ
economy-1236	33	23	market	market	NOUN
economy-1236	33	24	imperfections	imperfection	NOUN
economy-1236	33	25	in	in	ADP
economy-1236	33	26	the	the	DET
economy-1236	33	27	real	real	ADJ
economy-1236	33	28	world	world	NOUN
economy-1236	33	29	.	.	PUNCT
economy-1236	34	1	earlier	early	ADJ
economy-1236	34	2	researchers	researcher	NOUN
economy-1236	34	3	in	in	ADP
economy-1236	34	4	this	this	DET
economy-1236	34	5	field	field	NOUN
economy-1236	34	6	generally	generally	ADV
economy-1236	34	7	follow	follow	VERB
economy-1236	34	8	two	two	NUM
economy-1236	34	9	competing	compete	VERB
economy-1236	34	10	theories	theory	NOUN
economy-1236	34	11	,	,	PUNCT
economy-1236	34	12	'	'	PUNCT
economy-1236	34	13	static	static	ADJ
economy-1236	34	14	trade	trade	NOUN
economy-1236	34	15	off	off	ADP
economy-1236	34	16	theory	theory	NOUN
economy-1236	34	17	'	'	PUNCT
economy-1236	34	18	and	and	CCONJ
economy-1236	34	19	'	'	PUNCT
economy-1236	34	20	pecking	pecking	NOUN
economy-1236	34	21	order	order	NOUN
economy-1236	34	22	theory	theory	NOUN
economy-1236	34	23	'	'	PUNCT
economy-1236	34	24	which	which	PRON
economy-1236	34	25	assumes	assume	VERB
economy-1236	34	26	a	a	DET
economy-1236	34	27	wide	wide	ADJ
economy-1236	34	28	rationality	rationality	NOUN
economy-1236	34	29	.	.	PUNCT
economy-1236	35	1	the	the	DET
economy-1236	35	2	study	study	NOUN
economy-1236	35	3	by	by	ADP
economy-1236	35	4	frank	frank	PROPN
economy-1236	35	5	and	and	CCONJ
economy-1236	35	6	goyal	goyal	PROPN
economy-1236	35	7	(	(	PUNCT
economy-1236	35	8	2003	2003	NUM
economy-1236	35	9	)	)	PUNCT
economy-1236	35	10	concludes	conclude	VERB
economy-1236	35	11	that	that	SCONJ
economy-1236	35	12	there	there	PRON
economy-1236	35	13	is	be	VERB
economy-1236	35	14	no	no	DET
economy-1236	35	15	universal	universal	ADJ
economy-1236	35	16	theory	theory	NOUN
economy-1236	35	17	that	that	PRON
economy-1236	35	18	can	can	AUX
economy-1236	35	19	fully	fully	ADV
economy-1236	35	20	explain	explain	VERB
economy-1236	35	21	business	business	NOUN
economy-1236	35	22	financing	financing	NOUN
economy-1236	35	23	decisions	decision	NOUN
economy-1236	35	24	while	while	SCONJ
economy-1236	35	25	traditional	traditional	ADJ
economy-1236	35	26	explanations	explanation	NOUN
economy-1236	35	27	for	for	ADP
economy-1236	35	28	capital	capital	NOUN
economy-1236	35	29	structure	structure	NOUN
economy-1236	35	30	are	be	AUX
economy-1236	35	31	largely	largely	ADV
economy-1236	35	32	based	base	VERB
economy-1236	35	33	on	on	ADP
economy-1236	35	34	the	the	DET
economy-1236	35	35	assumption	assumption	NOUN
economy-1236	35	36	of	of	ADP
economy-1236	35	37	rationality	rationality	NOUN
economy-1236	35	38	of	of	ADP
economy-1236	35	39	the	the	DET
economy-1236	35	40	managers	manager	NOUN
economy-1236	35	41	.	.	PUNCT
economy-1236	36	1	theorists	theorist	NOUN
economy-1236	36	2	integrated	integrate	VERB
economy-1236	36	3	the	the	DET
economy-1236	36	4	behavioral	behavioral	ADJ
economy-1236	36	5	dimension	dimension	NOUN
economy-1236	36	6	into	into	ADP
economy-1236	36	7	the	the	DET
economy-1236	36	8	analysis	analysis	NOUN
economy-1236	36	9	of	of	ADP
economy-1236	36	10	the	the	DET
economy-1236	36	11	choice	choice	NOUN
economy-1236	36	12	of	of	ADP
economy-1236	36	13	the	the	DET
economy-1236	36	14	capital	capital	NOUN
economy-1236	36	15	structure	structure	NOUN
economy-1236	36	16	;	;	PUNCT
economy-1236	36	17	they	they	PRON
economy-1236	36	18	explain	explain	VERB
economy-1236	36	19	his	his	PRON
economy-1236	36	20	choice	choice	NOUN
economy-1236	36	21	on	on	ADP
economy-1236	36	22	the	the	DET
economy-1236	36	23	ceo	ceo	NOUN
economy-1236	36	24	emotional	emotional	ADJ
economy-1236	36	25	biases	bias	NOUN
economy-1236	36	26	.	.	PUNCT
economy-1236	37	1	this	this	DET
economy-1236	37	2	integration	integration	NOUN
economy-1236	37	3	has	have	VERB
economy-1236	37	4	enriched	enrich	VERB
economy-1236	37	5	theories	theory	NOUN
economy-1236	37	6	of	of	ADP
economy-1236	37	7	capital	capital	NOUN
economy-1236	37	8	structure	structure	NOUN
economy-1236	37	9	:	:	PUNCT
economy-1236	37	10	the	the	DET
economy-1236	37	11	static	static	ADJ
economy-1236	37	12	trade	trade	NOUN
economy-1236	37	13	off	off	ADP
economy-1236	37	14	and	and	CCONJ
economy-1236	37	15	peking	peking	NOUN
economy-1236	37	16	order	order	NOUN
economy-1236	37	17	theory	theory	NOUN
economy-1236	37	18	(	(	PUNCT
economy-1236	37	19	azouzi	azouzi	PROPN
economy-1236	37	20	and	and	CCONJ
economy-1236	37	21	jarboui	jarboui	PROPN
economy-1236	37	22	,	,	PUNCT
economy-1236	37	23	2012	2012	NUM
economy-1236	37	24	;	;	PUNCT
economy-1236	37	25	azouzi	azouzi	PROPN
economy-1236	37	26	and	and	CCONJ
economy-1236	37	27	jarboui	jarboui	PROPN
economy-1236	37	28	,	,	PUNCT
economy-1236	37	29	2018	2018	NUM
economy-1236	37	30	)	)	PUNCT
economy-1236	37	31	.	.	PUNCT
economy-1236	38	1	some	some	DET
economy-1236	38	2	studies	study	NOUN
economy-1236	38	3	address	address	VERB
economy-1236	38	4	the	the	DET
economy-1236	38	5	issue	issue	NOUN
economy-1236	38	6	from	from	ADP
economy-1236	38	7	the	the	DET
economy-1236	38	8	point	point	NOUN
economy-1236	38	9	of	of	ADP
economy-1236	38	10	view	view	NOUN
economy-1236	38	11	that	that	SCONJ
economy-1236	38	12	rational	rational	ADJ
economy-1236	38	13	managers	manager	NOUN
economy-1236	38	14	interact	interact	VERB
economy-1236	38	15	with	with	ADP
economy-1236	38	16	rational	rational	ADJ
economy-1236	38	17	outside	outside	ADJ
economy-1236	38	18	investors	investor	NOUN
economy-1236	38	19	too	too	ADV
economy-1236	38	20	.	.	PUNCT
economy-1236	39	1	only	only	ADV
economy-1236	39	2	recently	recently	ADV
economy-1236	39	3	a	a	DET
economy-1236	39	4	more	more	ADV
economy-1236	39	5	small	small	ADJ
economy-1236	39	6	number	number	NOUN
economy-1236	39	7	of	of	ADP
economy-1236	39	8	analyses	analysis	NOUN
economy-1236	39	9	emerging	emerge	VERB
economy-1236	39	10	by	by	ADP
economy-1236	39	11	focusing	focus	VERB
economy-1236	39	12	on	on	ADP
economy-1236	39	13	cognitive	cognitive	ADJ
economy-1236	39	14	biases	bias	NOUN
economy-1236	39	15	(	(	PUNCT
economy-1236	39	16	optimism	optimism	NOUN
economy-1236	39	17	,	,	PUNCT
economy-1236	39	18	excess	excess	NOUN
economy-1236	39	19	of	of	ADP
economy-1236	39	20	trust	trust	NOUN
economy-1236	39	21	and	and	CCONJ
economy-1236	39	22	loss	loss	NOUN
economy-1236	39	23	aversion	aversion	NOUN
economy-1236	39	24	)	)	PUNCT
economy-1236	39	25	managers	manager	NOUN
economy-1236	39	26	themselves	themselves	PRON
economy-1236	39	27	and	and	CCONJ
economy-1236	39	28	trying	try	VERB
economy-1236	39	29	to	to	PART
economy-1236	39	30	understand	understand	VERB
economy-1236	39	31	how	how	SCONJ
economy-1236	39	32	they	they	PRON
economy-1236	39	33	can	can	AUX
economy-1236	39	34	interact	interact	VERB
economy-1236	39	35	with	with	ADP
economy-1236	39	36	the	the	DET
economy-1236	39	37	different	different	ADJ
economy-1236	39	38	statuses	status	NOUN
economy-1236	39	39	of	of	ADP
economy-1236	39	40	the	the	DET
economy-1236	39	41	company	company	NOUN
economy-1236	39	42	and	and	CCONJ
economy-1236	39	43	primarily	primarily	ADV
economy-1236	39	44	with	with	ADP
economy-1236	39	45	the	the	DET
economy-1236	39	46	control	control	NOUN
economy-1236	39	47	system	system	NOUN
economy-1236	39	48	.	.	PUNCT
economy-1236	40	1	schrand	schrand	NOUN
economy-1236	40	2	and	and	CCONJ
economy-1236	40	3	zechman	zechman	NOUN
economy-1236	40	4	(	(	PUNCT
economy-1236	40	5	2010	2010	NUM
economy-1236	40	6	)	)	PUNCT
economy-1236	40	7	show	show	VERB
economy-1236	40	8	that	that	SCONJ
economy-1236	40	9	overly	overly	ADV
economy-1236	40	10	confident	confident	ADJ
economy-1236	40	11	managers	manager	NOUN
economy-1236	40	12	make	make	VERB
economy-1236	40	13	optimistic	optimistic	ADJ
economy-1236	40	14	forecasts	forecast	NOUN
economy-1236	40	15	and	and	CCONJ
economy-1236	40	16	in	in	ADP
economy-1236	40	17	order	order	NOUN
economy-1236	40	18	to	to	PART
economy-1236	40	19	meet	meet	VERB
economy-1236	40	20	these	these	DET
economy-1236	40	21	expectations	expectation	NOUN
economy-1236	40	22	,	,	PUNCT
economy-1236	40	23	they	they	PRON
economy-1236	40	24	show	show	VERB
economy-1236	40	25	higher	high	ADJ
economy-1236	40	26	levels	level	NOUN
economy-1236	40	27	of	of	ADP
economy-1236	40	28	future	future	ADJ
economy-1236	40	29	earnings	earning	NOUN
economy-1236	40	30	.	.	PUNCT
economy-1236	41	1	in	in	ADP
economy-1236	41	2	a	a	DET
economy-1236	41	3	series	series	NOUN
economy-1236	41	4	of	of	ADP
economy-1236	41	5	studies	study	NOUN
economy-1236	41	6	,	,	PUNCT
economy-1236	41	7	malmendier	malmendier	NOUN
economy-1236	41	8	and	and	CCONJ
economy-1236	41	9	tate	tate	NOUN
economy-1236	41	10	(	(	PUNCT
economy-1236	41	11	2005	2005	NUM
economy-1236	41	12	)	)	PUNCT
economy-1236	41	13	;	;	PUNCT
economy-1236	41	14	malmendier	malmendier	NOUN
economy-1236	41	15	and	and	CCONJ
economy-1236	41	16	tate	tate	NOUN
economy-1236	41	17	(	(	PUNCT
economy-1236	41	18	2008	2008	NUM
economy-1236	41	19	)	)	PUNCT
economy-1236	41	20	;	;	PUNCT
economy-1236	41	21	malmendier	malmendier	NOUN
economy-1236	41	22	and	and	CCONJ
economy-1236	41	23	tate	tate	NOUN
economy-1236	41	24	(	(	PUNCT
economy-1236	41	25	2015	2015	NUM
economy-1236	41	26	)	)	PUNCT
economy-1236	41	27	and	and	CCONJ
economy-1236	41	28	malmendier	malmendi	ADJ
economy-1236	41	29	et	et	PROPN
economy-1236	41	30	al	al	PROPN
economy-1236	41	31	.	.	PROPN
economy-1236	41	32	(	(	PUNCT
economy-1236	41	33	2010	2010	NUM
economy-1236	41	34	)	)	PUNCT
economy-1236	41	35	formalize	formalize	VERB
economy-1236	41	36	the	the	DET
economy-1236	41	37	notion	notion	NOUN
economy-1236	41	38	of	of	ADP
economy-1236	41	39	leadership	leadership	NOUN
economy-1236	41	40	behavior	behavior	NOUN
economy-1236	41	41	and	and	CCONJ
economy-1236	41	42	provide	provide	VERB
economy-1236	41	43	empirical	empirical	ADJ
economy-1236	41	44	evidence	evidence	NOUN
economy-1236	41	45	to	to	PART
economy-1236	41	46	analyze	analyze	VERB
economy-1236	41	47	the	the	DET
economy-1236	41	48	effects	effect	NOUN
economy-1236	41	49	of	of	ADP
economy-1236	41	50	managerial	managerial	ADJ
economy-1236	41	51	optimism	optimism	NOUN
economy-1236	41	52	level	level	NOUN
economy-1236	41	53	on	on	ADP
economy-1236	41	54	funding	funding	NOUN
economy-1236	41	55	preferences	preference	NOUN
economy-1236	41	56	and	and	CCONJ
economy-1236	41	57	capital	capital	NOUN
economy-1236	41	58	structure	structure	NOUN
economy-1236	41	59	choice	choice	NOUN
economy-1236	41	60	.	.	PUNCT
economy-1236	42	1	the	the	DET
economy-1236	42	2	implications	implication	NOUN
economy-1236	42	3	of	of	ADP
economy-1236	42	4	optimism	optimism	NOUN
economy-1236	42	5	for	for	ADP
economy-1236	42	6	the	the	DET
economy-1236	42	7	company	company	NOUN
economy-1236	42	8	's	's	PART
economy-1236	42	9	funding	funding	NOUN
economy-1236	42	10	decisions	decision	NOUN
economy-1236	42	11	have	have	AUX
economy-1236	42	12	recently	recently	ADV
economy-1236	42	13	begun	begin	VERB
economy-1236	42	14	to	to	PART
economy-1236	42	15	be	be	AUX
economy-1236	42	16	explored	explore	VERB
economy-1236	42	17	by	by	ADP
economy-1236	42	18	behavioral	behavioral	ADJ
economy-1236	42	19	finance	finance	NOUN
economy-1236	42	20	researchers	researcher	NOUN
economy-1236	42	21	.	.	PUNCT
economy-1236	43	1	in	in	ADP
economy-1236	43	2	the	the	DET
economy-1236	43	3	psychological	psychological	ADJ
economy-1236	43	4	and	and	CCONJ
economy-1236	43	5	behavioral	behavioral	ADJ
economy-1236	43	6	literature	literature	NOUN
economy-1236	43	7	,	,	PUNCT
economy-1236	43	8	optimism	optimism	NOUN
economy-1236	43	9	is	be	AUX
economy-1236	43	10	generally	generally	ADV
economy-1236	43	11	associated	associate	VERB
economy-1236	43	12	with	with	ADP
economy-1236	43	13	an	an	DET
economy-1236	43	14	exaggerated	exaggerated	ADJ
economy-1236	43	15	positive	positive	ADJ
economy-1236	43	16	perception	perception	NOUN
economy-1236	43	17	about	about	ADP
economy-1236	43	18	the	the	DET
economy-1236	43	19	probability	probability	NOUN
economy-1236	43	20	that	that	SCONJ
economy-1236	43	21	the	the	DET
economy-1236	43	22	favorable	favorable	ADJ
economy-1236	43	23	events	event	NOUN
economy-1236	43	24	will	will	AUX
economy-1236	43	25	occur	occur	VERB
economy-1236	43	26	and	and	CCONJ
economy-1236	43	27	simultaneously	simultaneously	ADV
economy-1236	43	28	with	with	ADP
economy-1236	43	29	the	the	DET
economy-1236	43	30	underestimation	underestimation	NOUN
economy-1236	43	31	of	of	ADP
economy-1236	43	32	the	the	DET
economy-1236	43	33	probability	probability	NOUN
economy-1236	43	34	that	that	SCONJ
economy-1236	43	35	the	the	DET
economy-1236	43	36	adverse	adverse	ADJ
economy-1236	43	37	events	event	NOUN
economy-1236	43	38	will	will	AUX
economy-1236	43	39	occur	occur	VERB
economy-1236	43	40	.	.	PUNCT
economy-1236	44	1	similarly	similarly	ADV
economy-1236	44	2	,	,	PUNCT
economy-1236	44	3	heaton	heaton	PROPN
economy-1236	44	4	(	(	PUNCT
economy-1236	44	5	2002	2002	NUM
economy-1236	44	6	)	)	PUNCT
economy-1236	44	7	argues	argue	VERB
economy-1236	44	8	that	that	SCONJ
economy-1236	44	9	managers	manager	NOUN
economy-1236	44	10	tend	tend	VERB
economy-1236	44	11	to	to	PART
economy-1236	44	12	overstate	overstate	VERB
economy-1236	44	13	not	not	PART
economy-1236	44	14	only	only	ADV
economy-1236	44	15	their	their	PRON
economy-1236	44	16	investment	investment	NOUN
economy-1236	44	17	opportunities	opportunity	NOUN
economy-1236	44	18	but	but	CCONJ
economy-1236	44	19	also	also	ADV
economy-1236	44	20	the	the	DET
economy-1236	44	21	value	value	NOUN
economy-1236	44	22	of	of	ADP
economy-1236	44	23	their	their	PRON
economy-1236	44	24	companies	company	NOUN
economy-1236	44	25	.	.	PUNCT
economy-1236	45	1	this	this	DET
economy-1236	45	2	principle	principle	NOUN
economy-1236	45	3	gives	give	VERB
economy-1236	45	4	a	a	DET
economy-1236	45	5	total	total	ADJ
economy-1236	45	6	convergence	convergence	NOUN
economy-1236	45	7	of	of	ADP
economy-1236	45	8	the	the	DET
economy-1236	45	9	interests	interest	NOUN
economy-1236	45	10	of	of	ADP
economy-1236	45	11	direct	direct	ADJ
economy-1236	45	12	with	with	ADP
economy-1236	45	13	the	the	DET
economy-1236	45	14	interests	interest	NOUN
economy-1236	45	15	of	of	ADP
economy-1236	45	16	the	the	DET
economy-1236	45	17	shareholders	shareholder	NOUN
economy-1236	45	18	.	.	PUNCT
economy-1236	46	1	gervais	gervais	PROPN
economy-1236	46	2	and	and	CCONJ
economy-1236	46	3	odean	odean	ADJ
economy-1236	46	4	(	(	PUNCT
economy-1236	46	5	2001	2001	NUM
economy-1236	46	6	)	)	PUNCT
economy-1236	46	7	;	;	PUNCT
economy-1236	46	8	chang	chang	PROPN
economy-1236	46	9	et	et	PROPN
economy-1236	46	10	al	al	PROPN
economy-1236	46	11	.	.	PROPN
economy-1236	47	1	(	(	PUNCT
economy-1236	47	2	2009	2009	NUM
economy-1236	47	3	)	)	PUNCT
economy-1236	47	4	show	show	VERB
economy-1236	47	5	the	the	DET
economy-1236	47	6	existence	existence	NOUN
economy-1236	47	7	of	of	ADP
economy-1236	47	8	a	a	DET
economy-1236	47	9	positive	positive	ADJ
economy-1236	47	10	relationship	relationship	NOUN
economy-1236	47	11	between	between	ADP
economy-1236	47	12	optimism	optimism	NOUN
economy-1236	47	13	and	and	CCONJ
economy-1236	47	14	uncertainty	uncertainty	NOUN
economy-1236	47	15	.	.	PUNCT
economy-1236	48	1	this	this	DET
economy-1236	48	2	uncertainty	uncertainty	NOUN
economy-1236	48	3	implies	imply	VERB
economy-1236	48	4	the	the	DET
economy-1236	48	5	risk	risk	NOUN
economy-1236	48	6	aversion	aversion	NOUN
economy-1236	48	7	and	and	CCONJ
economy-1236	48	8	precisely	precisely	ADV
economy-1236	48	9	the	the	DET
economy-1236	48	10	risk	risk	NOUN
economy-1236	48	11	of	of	ADP
economy-1236	48	12	the	the	DET
economy-1236	48	13	loss	loss	NOUN
economy-1236	48	14	of	of	ADP
economy-1236	48	15	the	the	DET
economy-1236	48	16	stability	stability	NOUN
economy-1236	48	17	of	of	ADP
economy-1236	48	18	position	position	NOUN
economy-1236	48	19	of	of	ADP
economy-1236	48	20	ceo	ceo	NOUN
economy-1236	48	21	.	.	PUNCT
economy-1236	49	1	so	so	ADV
economy-1236	49	2	the	the	DET
economy-1236	49	3	leader	leader	NOUN
economy-1236	49	4	will	will	AUX
economy-1236	49	5	defend	defend	VERB
economy-1236	49	6	his	his	PRON
economy-1236	49	7	interests	interest	NOUN
economy-1236	49	8	and	and	CCONJ
economy-1236	49	9	seeks	seek	VERB
economy-1236	49	10	to	to	PART
economy-1236	49	11	take	take	VERB
economy-1236	49	12	a	a	DET
economy-1236	49	13	better	well	ADJ
economy-1236	49	14	position	position	NOUN
economy-1236	49	15	in	in	ADP
economy-1236	49	16	society	society	NOUN
economy-1236	49	17	and	and	CCONJ
economy-1236	49	18	refuses	refuse	VERB
economy-1236	49	19	any	any	DET
economy-1236	49	20	decision	decision	NOUN
economy-1236	49	21	that	that	PRON
economy-1236	49	22	could	could	AUX
economy-1236	49	23	change	change	VERB
economy-1236	49	24	its	its	PRON
economy-1236	49	25	current	current	ADJ
economy-1236	49	26	state	state	NOUN
economy-1236	49	27	.	.	PUNCT
economy-1236	50	1	in	in	ADP
economy-1236	50	2	this	this	DET
economy-1236	50	3	sense	sense	NOUN
economy-1236	50	4	,	,	PUNCT
economy-1236	50	5	the	the	DET
economy-1236	50	6	entry	entry	NOUN
economy-1236	50	7	of	of	ADP
economy-1236	50	8	new	new	ADJ
economy-1236	50	9	shareholders	shareholder	NOUN
economy-1236	50	10	will	will	AUX
economy-1236	50	11	increase	increase	VERB
economy-1236	50	12	the	the	DET
economy-1236	50	13	level	level	NOUN
economy-1236	50	14	of	of	ADP
economy-1236	50	15	control	control	NOUN
economy-1236	50	16	exercised	exercise	VERB
economy-1236	50	17	over	over	ADP
economy-1236	50	18	the	the	DET
economy-1236	50	19	ceo	ceo	NOUN
economy-1236	50	20	which	which	PRON
economy-1236	50	21	represents	represent	VERB
economy-1236	50	22	one	one	NUM
economy-1236	50	23	of	of	ADP
economy-1236	50	24	the	the	DET
economy-1236	50	25	dangers	danger	NOUN
economy-1236	50	26	for	for	ADP
economy-1236	50	27	this	this	DET
economy-1236	50	28	leader	leader	NOUN
economy-1236	50	29	.	.	PUNCT
economy-1236	51	1	this	this	PRON
economy-1236	51	2	reflects	reflect	VERB
economy-1236	51	3	the	the	DET
economy-1236	51	4	negative	negative	ADJ
economy-1236	51	5	relationship	relationship	NOUN
economy-1236	51	6	between	between	ADP
economy-1236	51	7	the	the	DET
economy-1236	51	8	ceo	ceo	NOUN
economy-1236	51	9	optimism	optimism	NOUN
economy-1236	51	10	level	level	NOUN
economy-1236	51	11	and	and	CCONJ
economy-1236	51	12	the	the	DET
economy-1236	51	13	equity	equity	NOUN
economy-1236	51	14	choice	choice	NOUN
economy-1236	51	15	.	.	PUNCT
economy-1236	52	1	debt	debt	NOUN
economy-1236	52	2	carried	carry	VERB
economy-1236	52	3	out	out	ADP
economy-1236	52	4	under	under	ADP
economy-1236	52	5	the	the	DET
economy-1236	52	6	conditions	condition	NOUN
economy-1236	52	7	described	describe	VERB
economy-1236	52	8	above	above	ADV
economy-1236	52	9	can	can	AUX
economy-1236	52	10	constitute	constitute	VERB
economy-1236	52	11	a	a	DET
economy-1236	52	12	rooting	root	VERB
economy-1236	52	13	strategy	strategy	NOUN
economy-1236	52	14	for	for	ADP
economy-1236	52	15	the	the	DET
economy-1236	52	16	ceo	ceo	NOUN
economy-1236	52	17	.	.	PUNCT
economy-1236	53	1	the	the	DET
economy-1236	53	2	strategy	strategy	NOUN
economy-1236	53	3	is	be	AUX
economy-1236	53	4	for	for	ADP
economy-1236	53	5	agents	agent	NOUN
economy-1236	53	6	who	who	PRON
economy-1236	53	7	wish	wish	VERB
economy-1236	53	8	to	to	PART
economy-1236	53	9	take	take	VERB
economy-1236	53	10	root	root	NOUN
economy-1236	53	11	,	,	PUNCT
economy-1236	53	12	to	to	PART
economy-1236	53	13	increase	increase	VERB
economy-1236	53	14	the	the	DET
economy-1236	53	15	cost	cost	NOUN
economy-1236	53	16	of	of	ADP
economy-1236	53	17	their	their	PRON
economy-1236	53	18	replacement	replacement	NOUN
economy-1236	53	19	for	for	ADP
economy-1236	53	20	their	their	PRON
economy-1236	53	21	principal	principal	NOUN
economy-1236	53	22	.	.	PUNCT
economy-1236	54	1	by	by	ADP
economy-1236	54	2	doing	do	VERB
economy-1236	54	3	so	so	ADV
economy-1236	54	4	,	,	PUNCT
economy-1236	54	5	they	they	PRON
economy-1236	54	6	can	can	AUX
economy-1236	54	7	benefit	benefit	VERB
economy-1236	54	8	from	from	ADP
economy-1236	54	9	better	well	ADJ
economy-1236	54	10	job	job	NOUN
economy-1236	54	11	security	security	NOUN
economy-1236	54	12	,	,	PUNCT
economy-1236	54	13	higher	high	ADJ
economy-1236	54	14	remuneration	remuneration	NOUN
economy-1236	54	15	or	or	CCONJ
economy-1236	54	16	even	even	ADV
economy-1236	54	17	more	more	ADJ
economy-1236	54	18	freedom	freedom	NOUN
economy-1236	54	19	in	in	ADP
economy-1236	54	20	their	their	PRON
economy-1236	54	21	actions	action	NOUN
economy-1236	54	22	.	.	PUNCT
economy-1236	55	1	faced	face	VERB
economy-1236	55	2	with	with	ADP
economy-1236	55	3	the	the	DET
economy-1236	55	4	many	many	ADJ
economy-1236	55	5	questions	question	NOUN
economy-1236	55	6	raised	raise	VERB
economy-1236	55	7	by	by	ADP
economy-1236	55	8	research	research	NOUN
economy-1236	55	9	on	on	ADP
economy-1236	55	10	the	the	DET
economy-1236	55	11	link	link	NOUN
economy-1236	55	12	between	between	ADP
economy-1236	55	13	the	the	DET
economy-1236	55	14	optimism	optimism	NOUN
economy-1236	55	15	of	of	ADP
economy-1236	55	16	leaders	leader	NOUN
economy-1236	55	17	and	and	CCONJ
economy-1236	55	18	the	the	DET
economy-1236	55	19	modes	mode	NOUN
economy-1236	55	20	applied	apply	VERB
economy-1236	55	21	to	to	PART
economy-1236	55	22	control	control	VERB
economy-1236	55	23	this	this	DET
economy-1236	55	24	cognitive	cognitive	ADJ
economy-1236	55	25	bias	bias	NOUN
economy-1236	55	26	,	,	PUNCT
economy-1236	55	27	we	we	PRON
economy-1236	55	28	will	will	AUX
economy-1236	55	29	analyze	analyze	VERB
economy-1236	55	30	the	the	DET
economy-1236	55	31	impact	impact	NOUN
economy-1236	55	32	of	of	ADP
economy-1236	55	33	certain	certain	ADJ
economy-1236	55	34	governance	governance	NOUN
economy-1236	55	35	mechanisms	mechanism	NOUN
economy-1236	55	36	on	on	ADP
economy-1236	55	37	the	the	DET
economy-1236	55	38	decisionmaking	decisionmaking	NOUN
economy-1236	55	39	of	of	ADP
economy-1236	55	40	financing	financing	NOUN
economy-1236	55	41	by	by	ADP
economy-1236	55	42	the	the	DET
economy-1236	55	43	biased	biased	ADJ
economy-1236	55	44	agent	agent	NOUN
economy-1236	55	45	.	.	PUNCT
economy-1236	56	1	this	this	DET
economy-1236	56	2	analysis	analysis	NOUN
economy-1236	56	3	will	will	AUX
economy-1236	56	4	focus	focus	VERB
economy-1236	56	5	on	on	ADP
economy-1236	56	6	the	the	DET
economy-1236	56	7	internal	internal	ADJ
economy-1236	56	8	mechanism	mechanism	NOUN
economy-1236	56	9	of	of	ADP
economy-1236	56	10	governance	governance	NOUN
economy-1236	56	11	,	,	PUNCT
economy-1236	56	12	the	the	DET
economy-1236	56	13	board	board	NOUN
economy-1236	56	14	of	of	ADP
economy-1236	56	15	directors	director	NOUN
economy-1236	56	16	.	.	PUNCT
economy-1236	57	1	the	the	DET
economy-1236	57	2	board	board	NOUN
economy-1236	57	3	of	of	ADP
economy-1236	57	4	directors	director	NOUN
economy-1236	57	5	is	be	AUX
economy-1236	57	6	the	the	DET
economy-1236	57	7	central	central	ADJ
economy-1236	57	8	mechanism	mechanism	NOUN
economy-1236	57	9	of	of	ADP
economy-1236	57	10	the	the	DET
economy-1236	57	11	internal	internal	ADJ
economy-1236	57	12	governance	governance	NOUN
economy-1236	57	13	of	of	ADP
economy-1236	57	14	the	the	DET
economy-1236	57	15	company	company	NOUN
economy-1236	57	16	.	.	PUNCT
economy-1236	58	1	the	the	DET
economy-1236	58	2	relationship	relationship	NOUN
economy-1236	58	3	between	between	ADP
economy-1236	58	4	executive	executive	ADJ
economy-1236	58	5	optimism	optimism	NOUN
economy-1236	58	6	and	and	CCONJ
economy-1236	58	7	the	the	DET
economy-1236	58	8	choice	choice	NOUN
economy-1236	58	9	of	of	ADP
economy-1236	58	10	board	board	NOUN
economy-1236	58	11	feature	feature	NOUN
economy-1236	58	12	,	,	PUNCT
economy-1236	58	13	as	as	ADP
economy-1236	58	14	a	a	DET
economy-1236	58	15	key	key	ADJ
economy-1236	58	16	determinant	determinant	NOUN
economy-1236	58	17	of	of	ADP
economy-1236	58	18	corporate	corporate	ADJ
economy-1236	58	19	governance	governance	NOUN
economy-1236	58	20	,	,	PUNCT
economy-1236	58	21	was	be	AUX
economy-1236	58	22	founded	found	VERB
economy-1236	58	23	by	by	ADP
economy-1236	58	24	several	several	ADJ
economy-1236	58	25	previous	previous	ADJ
economy-1236	58	26	researchers	researcher	NOUN
economy-1236	58	27	and	and	CCONJ
economy-1236	58	28	particularly	particularly	ADV
economy-1236	58	29	by	by	ADP
economy-1236	58	30	malmendier	malmendier	NOUN
economy-1236	58	31	and	and	CCONJ
economy-1236	58	32	tate	tate	NOUN
economy-1236	58	33	(	(	PUNCT
economy-1236	58	34	2005	2005	NUM
economy-1236	58	35	)	)	PUNCT
economy-1236	58	36	.	.	PUNCT
economy-1236	59	1	implicitly	implicitly	ADV
economy-1236	59	2	,	,	PUNCT
economy-1236	59	3	they	they	PRON
economy-1236	59	4	suggest	suggest	VERB
economy-1236	59	5	that	that	SCONJ
economy-1236	59	6	corporate	corporate	ADJ
economy-1236	59	7	governance	governance	NOUN
economy-1236	59	8	can	can	AUX
economy-1236	59	9	be	be	AUX
economy-1236	59	10	a	a	DET
economy-1236	59	11	solution	solution	NOUN
economy-1236	59	12	for	for	ADP
economy-1236	59	13	limited	limited	ADJ
economy-1236	59	14	irrational	irrational	ADJ
economy-1236	59	15	management	management	NOUN
economy-1236	59	16	and	and	CCONJ
economy-1236	59	17	especially	especially	ADV
economy-1236	59	18	those	those	PRON
economy-1236	59	19	that	that	PRON
economy-1236	59	20	derives	derive	VERB
economy-1236	59	21	from	from	ADP
economy-1236	59	22	managerial	managerial	ADJ
economy-1236	59	23	optimism	optimism	NOUN
economy-1236	59	24	.	.	PUNCT
economy-1236	60	1	the	the	DET
economy-1236	60	2	board	board	NOUN
economy-1236	60	3	effectiveness	effectiveness	NOUN
economy-1236	60	4	is	be	AUX
economy-1236	60	5	a	a	DET
economy-1236	60	6	few	few	ADJ
economy-1236	60	7	standards	standard	NOUN
economy-1236	60	8	about	about	ADP
economy-1236	60	9	its	its	PRON
economy-1236	60	10	characteristics	characteristic	NOUN
economy-1236	60	11	(	(	PUNCT
economy-1236	60	12	jensen	jensen	PROPN
economy-1236	60	13	,	,	PUNCT
economy-1236	60	14	1993	1993	NUM
economy-1236	60	15	)	)	PUNCT
economy-1236	60	16	in	in	ADP
economy-1236	60	17	what	what	PRON
economy-1236	60	18	follows	follow	VERB
economy-1236	60	19	we	we	PRON
economy-1236	60	20	develop	develop	VERB
economy-1236	60	21	the	the	DET
economy-1236	60	22	possible	possible	ADJ
economy-1236	60	23	effect	effect	NOUN
economy-1236	60	24	of	of	ADP
economy-1236	60	25	the	the	DET
economy-1236	60	26	board	board	NOUN
economy-1236	60	27	mechanisms	mechanism	NOUN
economy-1236	60	28	on	on	ADP
economy-1236	60	29	leadership	leadership	NOUN
economy-1236	60	30	optimism	optimism	NOUN
economy-1236	60	31	and	and	CCONJ
economy-1236	60	32	funding	funding	NOUN
economy-1236	60	33	decision	decision	NOUN
economy-1236	60	34	.	.	PUNCT
economy-1236	61	1	in	in	ADP
economy-1236	61	2	this	this	DET
economy-1236	61	3	article	article	NOUN
economy-1236	61	4	,	,	PUNCT
economy-1236	61	5	we	we	PRON
economy-1236	61	6	try	try	VERB
economy-1236	61	7	to	to	PART
economy-1236	61	8	develop	develop	VERB
economy-1236	61	9	some	some	DET
economy-1236	61	10	testable	testable	ADJ
economy-1236	61	11	predictions	prediction	NOUN
economy-1236	61	12	in	in	ADP
economy-1236	61	13	order	order	NOUN
economy-1236	61	14	to	to	PART
economy-1236	61	15	give	give	VERB
economy-1236	61	16	some	some	DET
economy-1236	61	17	logical	logical	ADJ
economy-1236	61	18	answers	answer	NOUN
economy-1236	61	19	,	,	PUNCT
economy-1236	61	20	even	even	ADV
economy-1236	61	21	partial	partial	ADJ
economy-1236	61	22	answer	answer	NOUN
economy-1236	61	23	for	for	ADP
economy-1236	61	24	the	the	DET
economy-1236	61	25	following	follow	VERB
economy-1236	61	26	question	question	NOUN
economy-1236	61	27	:	:	PUNCT
economy-1236	61	28	can	can	AUX
economy-1236	61	29	manager	manager	NOUN
economy-1236	61	30	optimism	optimism	NOUN
economy-1236	61	31	affect	affect	VERB
economy-1236	61	32	board	board	NOUN
economy-1236	61	33	efficiency	efficiency	NOUN
economy-1236	61	34	and	and	CCONJ
economy-1236	61	35	debt	debt	NOUN
economy-1236	61	36	decision	decision	NOUN
economy-1236	61	37	?	?	PUNCT
economy-1236	62	1	this	this	DET
economy-1236	62	2	study	study	NOUN
economy-1236	62	3	aims	aim	VERB
economy-1236	62	4	to	to	PART
economy-1236	62	5	explore	explore	VERB
economy-1236	62	6	three	three	NUM
economy-1236	62	7	main	main	ADJ
economy-1236	62	8	hypotheses	hypothesis	NOUN
economy-1236	62	9	that	that	PRON
economy-1236	62	10	explain	explain	VERB
economy-1236	62	11	the	the	DET
economy-1236	62	12	effect	effect	NOUN
economy-1236	62	13	of	of	ADP
economy-1236	62	14	optimism	optimism	NOUN
economy-1236	62	15	on	on	ADP
economy-1236	62	16	the	the	DET
economy-1236	62	17	board	board	NOUN
economy-1236	62	18	of	of	ADP
economy-1236	62	19	directors	director	NOUN
economy-1236	62	20	characteristics	characteristic	NOUN
economy-1236	62	21	(	(	PUNCT
economy-1236	62	22	independence	independence	NOUN
economy-1236	62	23	of	of	ADP
economy-1236	62	24	members	member	NOUN
economy-1236	62	25	,	,	PUNCT
economy-1236	62	26	duality	duality	NOUN
economy-1236	62	27	and	and	CCONJ
economy-1236	62	28	size	size	NOUN
economy-1236	62	29	)	)	PUNCT
economy-1236	62	30	and	and	CCONJ
economy-1236	62	31	the	the	DET
economy-1236	62	32	decision	decision	NOUN
economy-1236	62	33	of	of	ADP
economy-1236	62	34	indebtedness	indebtedness	NOUN
economy-1236	62	35	.	.	PUNCT
economy-1236	63	1	2	2	X
economy-1236	63	2	.	.	X
economy-1236	63	3	hypothesis	hypothesis	NOUN
economy-1236	63	4	development	development	NOUN
economy-1236	63	5	since	since	SCONJ
economy-1236	63	6	the	the	DET
economy-1236	63	7	works	work	NOUN
economy-1236	63	8	of	of	ADP
economy-1236	63	9	modigliani	modigliani	PROPN
economy-1236	63	10	and	and	CCONJ
economy-1236	63	11	miller	miller	PROPN
economy-1236	63	12	(	(	PUNCT
economy-1236	63	13	1958	1958	NUM
economy-1236	63	14	)	)	PUNCT
economy-1236	63	15	who	who	PRON
economy-1236	63	16	proved	prove	VERB
economy-1236	63	17	the	the	DET
economy-1236	63	18	irrelevance	irrelevance	NOUN
economy-1236	63	19	of	of	ADP
economy-1236	63	20	financing	financing	NOUN
economy-1236	63	21	decisions	decision	NOUN
economy-1236	63	22	of	of	ADP
economy-1236	63	23	companies	company	NOUN
economy-1236	63	24	under	under	ADP
economy-1236	63	25	the	the	DET
economy-1236	63	26	conditions	condition	NOUN
economy-1236	63	27	of	of	ADP
economy-1236	63	28	the	the	DET
economy-1236	63	29	perfect	perfect	ADJ
economy-1236	63	30	market	market	NOUN
economy-1236	63	31	.	.	PUNCT
economy-1236	64	1	a	a	DET
economy-1236	64	2	large	large	ADJ
economy-1236	64	3	number	number	NOUN
economy-1236	64	4	of	of	ADP
economy-1236	64	5	theoretical	theoretical	ADJ
economy-1236	64	6	and	and	CCONJ
economy-1236	64	7	empirical	empirical	ADJ
economy-1236	64	8	analyzes	analyze	NOUN
economy-1236	64	9	have	have	AUX
economy-1236	64	10	been	be	AUX
economy-1236	64	11	developed	develop	VERB
economy-1236	64	12	to	to	PART
economy-1236	64	13	study	study	VERB
economy-1236	64	14	the	the	DET
economy-1236	64	15	determinants	determinant	NOUN
economy-1236	64	16	of	of	ADP
economy-1236	64	17	corporate	corporate	ADJ
economy-1236	64	18	finance	finance	NOUN
economy-1236	64	19	decisions	decision	NOUN
economy-1236	64	20	against	against	ADP
economy-1236	64	21	real	real	ADJ
economy-1236	64	22	-	-	PUNCT
economy-1236	64	23	world	world	NOUN
economy-1236	64	24	market	market	NOUN
economy-1236	64	25	imperfections	imperfection	NOUN
economy-1236	64	26	.	.	PUNCT
economy-1236	65	1	earlier	early	ADJ
economy-1236	65	2	researchers	researcher	NOUN
economy-1236	65	3	in	in	ADP
economy-1236	65	4	the	the	DET
economy-1236	65	5	field	field	NOUN
economy-1236	65	6	are	be	AUX
economy-1236	65	7	generally	generally	ADV
economy-1236	65	8	two	two	NUM
economy-1236	65	9	competing	compete	VERB
economy-1236	65	10	theories	theory	NOUN
economy-1236	65	11	,	,	PUNCT
economy-1236	65	12	the	the	DET
economy-1236	65	13	"	"	PUNCT
economy-1236	65	14	static	static	ADJ
economy-1236	65	15	trade	trade	NOUN
economy-1236	65	16	off	off	ADP
economy-1236	65	17	theory	theory	NOUN
economy-1236	65	18	"	"	PUNCT
economy-1236	65	19	and	and	CCONJ
economy-1236	65	20	the	the	DET
economy-1236	65	21	"	"	PUNCT
economy-1236	65	22	pecking	pecking	NOUN
economy-1236	65	23	order	order	NOUN
economy-1236	65	24	theory	theory	NOUN
economy-1236	65	25	"	"	PUNCT
economy-1236	65	26	which	which	PRON
economy-1236	65	27	assume	assume	VERB
economy-1236	65	28	a	a	DET
economy-1236	65	29	great	great	ADJ
economy-1236	65	30	rationality	rationality	NOUN
economy-1236	65	31	.	.	PUNCT
economy-1236	66	1	the	the	DET
economy-1236	66	2	study	study	NOUN
economy-1236	66	3	concludes	conclude	VERB
economy-1236	66	4	that	that	SCONJ
economy-1236	66	5	there	there	PRON
economy-1236	66	6	is	be	VERB
economy-1236	66	7	not	not	PART
economy-1236	66	8	a	a	DET
economy-1236	66	9	universal	universal	ADJ
economy-1236	66	10	theory	theory	NOUN
economy-1236	66	11	of	of	ADP
economy-1236	66	12	capital	capital	NOUN
economy-1236	66	13	structure	structure	NOUN
economy-1236	66	14	choice	choice	NOUN
economy-1236	66	15	while	while	SCONJ
economy-1236	66	16	traditional	traditional	ADJ
economy-1236	66	17	explanations	explanation	NOUN
economy-1236	66	18	for	for	ADP
economy-1236	66	19	capital	capital	NOUN
economy-1236	66	20	structure	structure	NOUN
economy-1236	66	21	largely	largely	ADV
economy-1236	66	22	repent	repent	VERB
economy-1236	66	23	on	on	ADP
economy-1236	66	24	the	the	DET
economy-1236	66	25	rationality	rationality	NOUN
economy-1236	66	26	assumption	assumption	NOUN
economy-1236	66	27	of	of	ADP
economy-1236	66	28	managers	manager	NOUN
economy-1236	66	29	.	.	PUNCT
economy-1236	67	1	some	some	DET
economy-1236	67	2	theorists	theorist	NOUN
economy-1236	67	3	have	have	AUX
economy-1236	67	4	incorporated	incorporate	VERB
economy-1236	67	5	the	the	DET
economy-1236	67	6	behavioral	behavioral	ADJ
economy-1236	67	7	dimension	dimension	NOUN
economy-1236	67	8	into	into	ADP
economy-1236	67	9	the	the	DET
economy-1236	67	10	analysis	analysis	NOUN
economy-1236	67	11	of	of	ADP
economy-1236	67	12	the	the	DET
economy-1236	67	13	choice	choice	NOUN
economy-1236	67	14	of	of	ADP
economy-1236	67	15	capital	capital	NOUN
economy-1236	67	16	structure	structure	NOUN
economy-1236	67	17	.	.	PUNCT
economy-1236	68	1	they	they	PRON
economy-1236	68	2	explain	explain	VERB
economy-1236	68	3	his	his	PRON
economy-1236	68	4	choices	choice	NOUN
economy-1236	68	5	by	by	ADP
economy-1236	68	6	the	the	DET
economy-1236	68	7	emotions	emotion	NOUN
economy-1236	68	8	of	of	ADP
economy-1236	68	9	the	the	DET
economy-1236	68	10	leaders	leader	NOUN
economy-1236	68	11	.	.	PUNCT
economy-1236	69	1	malmendier	malmendier	NOUN
economy-1236	69	2	and	and	CCONJ
economy-1236	69	3	tate	tate	NOUN
economy-1236	69	4	(	(	PUNCT
economy-1236	69	5	2005	2005	NUM
economy-1236	69	6	)	)	PUNCT
economy-1236	69	7	;	;	PUNCT
economy-1236	69	8	malmendier	malmendier	NOUN
economy-1236	69	9	and	and	CCONJ
economy-1236	69	10	tate	tate	NOUN
economy-1236	69	11	(	(	PUNCT
economy-1236	69	12	2008	2008	NUM
economy-1236	69	13	)	)	PUNCT
economy-1236	69	14	and	and	CCONJ
economy-1236	69	15	malmendier	malmendi	ADJ
economy-1236	69	16	et	et	PROPN
economy-1236	69	17	al	al	PROPN
economy-1236	69	18	.	.	PROPN
economy-1236	70	1	(	(	PUNCT
economy-1236	70	2	2010	2010	NUM
economy-1236	70	3	)	)	PUNCT
economy-1236	70	4	formalize	formalize	VERB
economy-1236	70	5	the	the	DET
economy-1236	70	6	notion	notion	NOUN
economy-1236	70	7	of	of	ADP
economy-1236	70	8	leadership	leadership	NOUN
economy-1236	70	9	behavior	behavior	NOUN
economy-1236	70	10	and	and	CCONJ
economy-1236	70	11	provide	provide	VERB
economy-1236	70	12	empirical	empirical	ADJ
economy-1236	70	13	evidence	evidence	NOUN
economy-1236	70	14	to	to	PART
economy-1236	70	15	analyze	analyze	VERB
economy-1236	70	16	the	the	DET
economy-1236	70	17	effects	effect	NOUN
economy-1236	70	18	of	of	ADP
economy-1236	70	19	biased	biased	ADJ
economy-1236	70	20	ceos	ceos	NOUN
economy-1236	70	21	on	on	ADP
economy-1236	70	22	the	the	DET
economy-1236	70	23	preferences	preference	NOUN
economy-1236	70	24	of	of	ADP
economy-1236	70	25	financing	financing	NOUN
economy-1236	70	26	and	and	CCONJ
economy-1236	70	27	the	the	DET
economy-1236	70	28	choice	choice	NOUN
economy-1236	70	29	of	of	ADP
economy-1236	70	30	capital	capital	NOUN
economy-1236	70	31	structure	structure	NOUN
economy-1236	70	32	.	.	PUNCT
economy-1236	71	1	in	in	ADP
economy-1236	71	2	the	the	DET
economy-1236	71	3	tunisian	tunisian	ADJ
economy-1236	71	4	context	context	NOUN
economy-1236	71	5	,	,	PUNCT
economy-1236	71	6	azouzi	azouzi	PROPN
economy-1236	71	7	and	and	CCONJ
economy-1236	71	8	jarboui	jarboui	PROPN
economy-1236	71	9	(	(	PUNCT
economy-1236	71	10	2012	2012	NUM
economy-1236	71	11	)	)	PUNCT
economy-1236	71	12	analyze	analyze	VERB
economy-1236	71	13	data	datum	NOUN
economy-1236	71	14	from	from	ADP
economy-1236	71	15	100	100	NUM
economy-1236	71	16	firm	firm	ADJ
economy-1236	71	17	and	and	CCONJ
economy-1236	71	18	find	find	VERB
economy-1236	71	19	a	a	DET
economy-1236	71	20	significantly	significantly	ADV
economy-1236	71	21	positive	positive	ADJ
economy-1236	71	22	correlation	correlation	NOUN
economy-1236	71	23	between	between	ADP
economy-1236	71	24	optimism	optimism	NOUN
economy-1236	71	25	and	and	CCONJ
economy-1236	71	26	the	the	DET
economy-1236	71	27	choice	choice	NOUN
economy-1236	71	28	to	to	PART
economy-1236	71	29	apply	apply	VERB
economy-1236	71	30	internal	internal	ADJ
economy-1236	71	31	financing	financing	NOUN
economy-1236	71	32	(	(	PUNCT
economy-1236	71	33	internally	internally	ADV
economy-1236	71	34	generated	generate	VERB
economy-1236	71	35	resources	resource	NOUN
economy-1236	71	36	choice	choice	NOUN
economy-1236	71	37	)	)	PUNCT
economy-1236	71	38	while	while	SCONJ
economy-1236	71	39	a	a	DET
economy-1236	71	40	negative	negative	ADJ
economy-1236	71	41	economy	economy	NOUN
economy-1236	71	42	,	,	PUNCT
economy-1236	71	43	2019	2019	NUM
economy-1236	71	44	,	,	PUNCT
economy-1236	71	45	6(2	6(2	NUM
economy-1236	71	46	):	):	PUNCT
economy-1236	71	47	82	82	NUM
economy-1236	71	48	-	-	SYM
economy-1236	71	49	91	91	NUM
economy-1236	71	50	84	84	NUM
economy-1236	71	51	©	©	PROPN
economy-1236	71	52	2019	2019	NUM
economy-1236	71	53	by	by	ADP
economy-1236	71	54	the	the	DET
economy-1236	71	55	authors	author	NOUN
economy-1236	71	56	;	;	PUNCT
economy-1236	71	57	licensee	licensee	PROPN
economy-1236	71	58	asian	asian	ADJ
economy-1236	71	59	online	online	PROPN
economy-1236	71	60	journal	journal	PROPN
economy-1236	71	61	publishing	publishing	NOUN
economy-1236	71	62	group	group	NOUN
economy-1236	71	63	relationship	relationship	NOUN
economy-1236	71	64	between	between	ADP
economy-1236	71	65	optimism	optimism	NOUN
economy-1236	71	66	and	and	CCONJ
economy-1236	71	67	the	the	DET
economy-1236	71	68	decision	decision	NOUN
economy-1236	71	69	to	to	PART
economy-1236	71	70	increase	increase	VERB
economy-1236	71	71	capital	capital	NOUN
economy-1236	71	72	.	.	PUNCT
economy-1236	72	1	parallel	parallel	ADJ
economy-1236	72	2	to	to	ADP
economy-1236	72	3	the	the	DET
economy-1236	72	4	evolution	evolution	NOUN
economy-1236	72	5	of	of	ADP
economy-1236	72	6	the	the	DET
economy-1236	72	7	capital	capital	NOUN
economy-1236	72	8	structure	structure	NOUN
economy-1236	72	9	theory	theory	NOUN
economy-1236	72	10	new	new	ADJ
economy-1236	72	11	governance	governance	NOUN
economy-1236	72	12	literature	literature	PROPN
economy-1236	72	13	highlights	highlight	NOUN
economy-1236	72	14	ceo	ceo	NOUN
economy-1236	72	15	behavior	behavior	NOUN
economy-1236	72	16	and	and	CCONJ
economy-1236	72	17	its	its	PRON
economy-1236	72	18	impacts	impact	NOUN
economy-1236	72	19	on	on	ADP
economy-1236	72	20	different	different	ADJ
economy-1236	72	21	business	business	NOUN
economy-1236	72	22	decisions	decision	NOUN
economy-1236	72	23	.	.	PUNCT
economy-1236	73	1	adam	adam	PROPN
economy-1236	73	2	and	and	CCONJ
economy-1236	73	3	li	li	PROPN
economy-1236	73	4	(	(	PUNCT
economy-1236	73	5	2012	2012	NUM
economy-1236	73	6	)	)	PUNCT
economy-1236	73	7	state	state	NOUN
economy-1236	73	8	that	that	SCONJ
economy-1236	73	9	the	the	DET
economy-1236	73	10	board	board	NOUN
economy-1236	73	11	is	be	AUX
economy-1236	73	12	a	a	DET
economy-1236	73	13	moderator	moderator	NOUN
economy-1236	73	14	of	of	ADP
economy-1236	73	15	behavioral	behavioral	ADJ
economy-1236	73	16	biases	bias	NOUN
economy-1236	73	17	among	among	ADP
economy-1236	73	18	leaders	leader	NOUN
economy-1236	73	19	.	.	PUNCT
economy-1236	74	1	they	they	PRON
economy-1236	74	2	add	add	VERB
economy-1236	74	3	that	that	SCONJ
economy-1236	74	4	the	the	DET
economy-1236	74	5	presence	presence	NOUN
economy-1236	74	6	of	of	ADP
economy-1236	74	7	the	the	DET
economy-1236	74	8	directors	director	NOUN
economy-1236	74	9	is	be	AUX
economy-1236	74	10	justified	justify	VERB
economy-1236	74	11	by	by	ADP
economy-1236	74	12	the	the	DET
economy-1236	74	13	forecasts	forecast	NOUN
economy-1236	74	14	of	of	ADP
economy-1236	74	15	the	the	DET
economy-1236	74	16	valuations	valuation	NOUN
economy-1236	74	17	errors	error	NOUN
economy-1236	74	18	of	of	ADP
economy-1236	74	19	the	the	DET
economy-1236	74	20	optimistic	optimistic	ADJ
economy-1236	74	21	leaders	leader	NOUN
economy-1236	74	22	.	.	PUNCT
economy-1236	75	1	in	in	ADP
economy-1236	75	2	other	other	ADJ
economy-1236	75	3	words	word	NOUN
economy-1236	75	4	,	,	PUNCT
economy-1236	75	5	board	board	NOUN
economy-1236	75	6	independence	independence	NOUN
economy-1236	75	7	is	be	AUX
economy-1236	75	8	recommended	recommend	VERB
economy-1236	75	9	to	to	PART
economy-1236	75	10	control	control	VERB
economy-1236	75	11	the	the	DET
economy-1236	75	12	decisions	decision	NOUN
economy-1236	75	13	of	of	ADP
economy-1236	75	14	optimistic	optimistic	ADJ
economy-1236	75	15	leaders	leader	NOUN
economy-1236	75	16	.	.	PUNCT
economy-1236	76	1	in	in	ADP
economy-1236	76	2	this	this	DET
economy-1236	76	3	section	section	NOUN
economy-1236	76	4	,	,	PUNCT
economy-1236	76	5	we	we	PRON
economy-1236	76	6	examined	examine	VERB
economy-1236	76	7	the	the	DET
economy-1236	76	8	effect	effect	NOUN
economy-1236	76	9	of	of	ADP
economy-1236	76	10	the	the	DET
economy-1236	76	11	board	board	NOUN
economy-1236	76	12	's	's	PART
economy-1236	76	13	characteristics	characteristic	NOUN
economy-1236	76	14	on	on	ADP
economy-1236	76	15	the	the	DET
economy-1236	76	16	choice	choice	NOUN
economy-1236	76	17	of	of	ADP
economy-1236	76	18	debt	debt	NOUN
economy-1236	76	19	by	by	ADP
economy-1236	76	20	optimistic	optimistic	ADJ
economy-1236	76	21	leaders	leader	NOUN
economy-1236	76	22	.	.	PUNCT
economy-1236	77	1	2.1	2.1	NUM
economy-1236	77	2	.	.	PUNCT
economy-1236	77	3	managerial	managerial	ADJ
economy-1236	77	4	optimism	optimism	NOUN
economy-1236	77	5	,	,	PUNCT
economy-1236	77	6	board	board	NOUN
economy-1236	77	7	of	of	ADP
economy-1236	77	8	director	director	NOUN
economy-1236	77	9	’s	’s	PART
economy-1236	77	10	independency	independency	NOUN
economy-1236	77	11	and	and	CCONJ
economy-1236	77	12	debt	debt	NOUN
economy-1236	77	13	choice	choice	NOUN
economy-1236	77	14	theorists	theorist	NOUN
economy-1236	77	15	point	point	VERB
economy-1236	77	16	out	out	ADP
economy-1236	77	17	that	that	SCONJ
economy-1236	77	18	independent	independent	ADJ
economy-1236	77	19	directors	director	NOUN
economy-1236	77	20	are	be	AUX
economy-1236	77	21	an	an	DET
economy-1236	77	22	effective	effective	ADJ
economy-1236	77	23	way	way	NOUN
economy-1236	77	24	of	of	ADP
economy-1236	77	25	controlling	control	VERB
economy-1236	77	26	the	the	DET
economy-1236	77	27	management	management	NOUN
economy-1236	77	28	team	team	NOUN
economy-1236	77	29	.	.	PUNCT
economy-1236	78	1	fama	fama	PROPN
economy-1236	78	2	and	and	CCONJ
economy-1236	78	3	jensen	jensen	PROPN
economy-1236	78	4	(	(	PUNCT
economy-1236	78	5	1983	1983	NUM
economy-1236	78	6	)	)	PUNCT
economy-1236	78	7	suggest	suggest	VERB
economy-1236	78	8	that	that	SCONJ
economy-1236	78	9	the	the	DET
economy-1236	78	10	board	board	NOUN
economy-1236	78	11	is	be	AUX
economy-1236	78	12	the	the	DET
economy-1236	78	13	best	good	ADJ
economy-1236	78	14	internal	internal	ADJ
economy-1236	78	15	control	control	NOUN
economy-1236	78	16	mechanism	mechanism	NOUN
economy-1236	78	17	to	to	PART
economy-1236	78	18	monitor	monitor	VERB
economy-1236	78	19	management	management	NOUN
economy-1236	78	20	's	's	PART
economy-1236	78	21	behavior	behavior	NOUN
economy-1236	78	22	.	.	PUNCT
economy-1236	79	1	baker	baker	PROPN
economy-1236	79	2	et	et	PROPN
economy-1236	79	3	al	al	PROPN
economy-1236	79	4	.	.	PROPN
economy-1236	80	1	(	(	PUNCT
economy-1236	80	2	2007	2007	NUM
economy-1236	80	3	)	)	PUNCT
economy-1236	80	4	consider	consider	VERB
economy-1236	80	5	that	that	SCONJ
economy-1236	80	6	the	the	DET
economy-1236	80	7	company	company	NOUN
economy-1236	80	8	's	's	PART
economy-1236	80	9	policies	policy	NOUN
economy-1236	80	10	are	be	AUX
economy-1236	80	11	appropriate	appropriate	ADJ
economy-1236	80	12	for	for	ADP
economy-1236	80	13	overvaluation	overvaluation	NOUN
economy-1236	80	14	and	and	CCONJ
economy-1236	80	15	undervaluation	undervaluation	NOUN
economy-1236	80	16	of	of	ADP
economy-1236	80	17	firms	firm	NOUN
economy-1236	80	18	by	by	ADP
economy-1236	80	19	market	market	NOUN
economy-1236	80	20	.	.	PUNCT
economy-1236	81	1	external	external	ADJ
economy-1236	81	2	directors	director	NOUN
economy-1236	81	3	are	be	AUX
economy-1236	81	4	aware	aware	ADJ
economy-1236	81	5	that	that	SCONJ
economy-1236	81	6	the	the	DET
economy-1236	81	7	market	market	NOUN
economy-1236	81	8	has	have	AUX
economy-1236	81	9	undervalued	undervalue	VERB
economy-1236	81	10	their	their	PRON
economy-1236	81	11	firms	firm	NOUN
economy-1236	81	12	.	.	PUNCT
economy-1236	82	1	they	they	PRON
economy-1236	82	2	are	be	AUX
economy-1236	82	3	reluctant	reluctant	ADJ
economy-1236	82	4	to	to	ADP
economy-1236	82	5	a	a	DET
economy-1236	82	6	new	new	ADJ
economy-1236	82	7	recourse	recourse	NOUN
economy-1236	82	8	to	to	ADP
economy-1236	82	9	external	external	ADJ
economy-1236	82	10	funding	funding	NOUN
economy-1236	82	11	mode	mode	NOUN
economy-1236	82	12	.	.	PUNCT
economy-1236	83	1	these	these	DET
economy-1236	83	2	directors	director	NOUN
economy-1236	83	3	help	help	VERB
economy-1236	83	4	the	the	DET
economy-1236	83	5	optimistic	optimistic	ADJ
economy-1236	83	6	manager	manager	NOUN
economy-1236	83	7	(	(	PUNCT
economy-1236	83	8	overstates	overstate	VERB
economy-1236	83	9	the	the	DET
economy-1236	83	10	ability	ability	NOUN
economy-1236	83	11	of	of	ADP
economy-1236	83	12	his	his	PRON
economy-1236	83	13	company	company	NOUN
economy-1236	83	14	)	)	PUNCT
economy-1236	83	15	to	to	PART
economy-1236	83	16	make	make	VERB
economy-1236	83	17	rational	rational	ADJ
economy-1236	83	18	decisions	decision	NOUN
economy-1236	83	19	.	.	PUNCT
economy-1236	84	1	this	this	PRON
economy-1236	84	2	implies	imply	VERB
economy-1236	84	3	a	a	DET
economy-1236	84	4	negative	negative	ADJ
economy-1236	84	5	relationship	relationship	NOUN
economy-1236	84	6	between	between	ADP
economy-1236	84	7	board	board	NOUN
economy-1236	84	8	independence	independence	NOUN
economy-1236	84	9	and	and	CCONJ
economy-1236	84	10	debt	debt	NOUN
economy-1236	84	11	financing	financing	NOUN
economy-1236	84	12	.	.	PUNCT
economy-1236	85	1	the	the	DET
economy-1236	85	2	presence	presence	NOUN
economy-1236	85	3	of	of	ADP
economy-1236	85	4	asymmetric	asymmetric	ADJ
economy-1236	85	5	information	information	NOUN
economy-1236	85	6	implies	imply	VERB
economy-1236	85	7	the	the	DET
economy-1236	85	8	increase	increase	NOUN
economy-1236	85	9	in	in	ADP
economy-1236	85	10	the	the	DET
economy-1236	85	11	cost	cost	NOUN
economy-1236	85	12	of	of	ADP
economy-1236	85	13	external	external	ADJ
economy-1236	85	14	financing	financing	NOUN
economy-1236	85	15	methods	method	NOUN
economy-1236	85	16	(	(	PUNCT
economy-1236	85	17	debt	debt	NOUN
economy-1236	85	18	and	and	CCONJ
economy-1236	85	19	equity	equity	NOUN
economy-1236	85	20	choice	choice	NOUN
economy-1236	85	21	)	)	PUNCT
economy-1236	85	22	.	.	PUNCT
economy-1236	86	1	this	this	PRON
economy-1236	86	2	encourages	encourage	VERB
economy-1236	86	3	external	external	ADJ
economy-1236	86	4	director	director	NOUN
economy-1236	86	5	’s	’s	PART
economy-1236	86	6	members	member	NOUN
economy-1236	86	7	to	to	PART
economy-1236	86	8	minimize	minimize	VERB
economy-1236	86	9	the	the	DET
economy-1236	86	10	use	use	NOUN
economy-1236	86	11	of	of	ADP
economy-1236	86	12	its	its	PRON
economy-1236	86	13	leader	leader	NOUN
economy-1236	86	14	in	in	ADP
economy-1236	86	15	external	external	ADJ
economy-1236	86	16	financing	financing	NOUN
economy-1236	86	17	mode	mode	NOUN
economy-1236	86	18	.	.	PUNCT
economy-1236	87	1	this	this	DET
economy-1236	87	2	uninformed	uninformed	ADJ
economy-1236	87	3	director	director	NOUN
economy-1236	87	4	aware	aware	ADJ
economy-1236	87	5	of	of	ADP
economy-1236	87	6	the	the	DET
economy-1236	87	7	bias	bias	NOUN
economy-1236	87	8	of	of	ADP
economy-1236	87	9	its	its	PRON
economy-1236	87	10	leader	leader	NOUN
economy-1236	87	11	seeks	seek	VERB
economy-1236	87	12	to	to	PART
economy-1236	87	13	limit	limit	VERB
economy-1236	87	14	the	the	DET
economy-1236	87	15	risk	risk	NOUN
economy-1236	87	16	of	of	ADP
economy-1236	87	17	the	the	DET
economy-1236	87	18	company	company	NOUN
economy-1236	87	19	by	by	ADP
economy-1236	87	20	refusing	refuse	VERB
economy-1236	87	21	the	the	DET
economy-1236	87	22	external	external	ADJ
economy-1236	87	23	financing	financing	NOUN
economy-1236	87	24	mode	mode	NOUN
economy-1236	87	25	(	(	PUNCT
economy-1236	87	26	debt	debt	NOUN
economy-1236	87	27	)	)	PUNCT
economy-1236	87	28	.	.	PUNCT
economy-1236	88	1	this	this	PRON
economy-1236	88	2	implies	imply	VERB
economy-1236	88	3	a	a	DET
economy-1236	88	4	negative	negative	ADJ
economy-1236	88	5	correlation	correlation	NOUN
economy-1236	88	6	between	between	ADP
economy-1236	88	7	the	the	DET
economy-1236	88	8	external	external	ADJ
economy-1236	88	9	directors	director	NOUN
economy-1236	88	10	and	and	CCONJ
economy-1236	88	11	the	the	DET
economy-1236	88	12	firm	firm	ADJ
economy-1236	88	13	debt	debt	NOUN
economy-1236	88	14	ratio	ratio	NOUN
economy-1236	88	15	.	.	PUNCT
economy-1236	89	1	schwizer	schwizer	PROPN
economy-1236	89	2	(	(	PUNCT
economy-1236	89	3	2013	2013	NUM
economy-1236	89	4	)	)	PUNCT
economy-1236	89	5	shows	show	VERB
economy-1236	89	6	that	that	SCONJ
economy-1236	89	7	companies	company	NOUN
economy-1236	89	8	with	with	ADP
economy-1236	89	9	the	the	DET
economy-1236	89	10	best	good	ADJ
economy-1236	89	11	economic	economic	ADJ
economy-1236	89	12	performance	performance	NOUN
economy-1236	89	13	in	in	ADP
economy-1236	89	14	the	the	DET
economy-1236	89	15	list	list	NOUN
economy-1236	89	16	have	have	VERB
economy-1236	89	17	independent	independent	ADJ
economy-1236	89	18	members	member	NOUN
economy-1236	89	19	on	on	ADP
economy-1236	89	20	the	the	DET
economy-1236	89	21	board	board	NOUN
economy-1236	89	22	.	.	PUNCT
economy-1236	90	1	the	the	DET
economy-1236	90	2	author	author	NOUN
economy-1236	90	3	adds	add	VERB
economy-1236	90	4	that	that	SCONJ
economy-1236	90	5	the	the	DET
economy-1236	90	6	high	high	ADJ
economy-1236	90	7	level	level	NOUN
economy-1236	90	8	of	of	ADP
economy-1236	90	9	performance	performance	NOUN
economy-1236	90	10	is	be	AUX
economy-1236	90	11	justified	justify	VERB
economy-1236	90	12	by	by	ADP
economy-1236	90	13	the	the	DET
economy-1236	90	14	moderating	moderate	VERB
economy-1236	90	15	effect	effect	NOUN
economy-1236	90	16	of	of	ADP
economy-1236	90	17	the	the	DET
economy-1236	90	18	board	board	NOUN
economy-1236	90	19	's	's	PART
economy-1236	90	20	independence	independence	NOUN
economy-1236	90	21	on	on	ADP
economy-1236	90	22	the	the	DET
economy-1236	90	23	behavioral	behavioral	ADJ
economy-1236	90	24	biases	bias	NOUN
economy-1236	90	25	of	of	ADP
economy-1236	90	26	the	the	DET
economy-1236	90	27	manager	manager	NOUN
economy-1236	90	28	at	at	ADP
economy-1236	90	29	the	the	DET
economy-1236	90	30	evaluation	evaluation	NOUN
economy-1236	90	31	of	of	ADP
economy-1236	90	32	investment	investment	NOUN
economy-1236	90	33	opportunities	opportunity	NOUN
economy-1236	90	34	and	and	CCONJ
economy-1236	90	35	risk	risk	NOUN
economy-1236	90	36	decision	decision	NOUN
economy-1236	90	37	.	.	PUNCT
economy-1236	91	1	the	the	DET
economy-1236	91	2	presence	presence	NOUN
economy-1236	91	3	of	of	ADP
economy-1236	91	4	independent	independent	ADJ
economy-1236	91	5	members	member	NOUN
economy-1236	91	6	reduces	reduce	VERB
economy-1236	91	7	the	the	DET
economy-1236	91	8	manager	manager	NOUN
economy-1236	91	9	's	's	PART
economy-1236	91	10	level	level	NOUN
economy-1236	91	11	of	of	ADP
economy-1236	91	12	optimism	optimism	NOUN
economy-1236	91	13	and	and	CCONJ
economy-1236	91	14	encourages	encourage	VERB
economy-1236	91	15	him	he	PRON
economy-1236	91	16	to	to	PART
economy-1236	91	17	make	make	VERB
economy-1236	91	18	less	less	ADV
economy-1236	91	19	risky	risky	ADJ
economy-1236	91	20	decisions	decision	NOUN
economy-1236	91	21	,	,	PUNCT
economy-1236	91	22	including	include	VERB
economy-1236	91	23	limiting	limit	VERB
economy-1236	91	24	the	the	DET
economy-1236	91	25	use	use	NOUN
economy-1236	91	26	of	of	ADP
economy-1236	91	27	debt	debt	NOUN
economy-1236	91	28	.	.	PUNCT
economy-1236	92	1	chang	chang	PROPN
economy-1236	92	2	et	et	PROPN
economy-1236	92	3	al	al	PROPN
economy-1236	92	4	.	.	PROPN
economy-1236	92	5	(	(	PUNCT
economy-1236	92	6	2012	2012	NUM
economy-1236	92	7	)	)	PUNCT
economy-1236	92	8	;	;	PUNCT
economy-1236	92	9	fauzi	fauzi	PROPN
economy-1236	92	10	and	and	CCONJ
economy-1236	92	11	locke	locke	PROPN
economy-1236	92	12	(	(	PUNCT
economy-1236	92	13	2012	2012	NUM
economy-1236	92	14	)	)	PUNCT
economy-1236	92	15	affirms	affirm	VERB
economy-1236	92	16	this	this	DET
economy-1236	92	17	finding	finding	NOUN
economy-1236	92	18	.	.	PUNCT
economy-1236	93	1	the	the	DET
economy-1236	93	2	authors	author	NOUN
economy-1236	93	3	found	find	VERB
economy-1236	93	4	that	that	SCONJ
economy-1236	93	5	the	the	DET
economy-1236	93	6	level	level	NOUN
economy-1236	93	7	of	of	ADP
economy-1236	93	8	indebtedness	indebtedness	NOUN
economy-1236	93	9	decreases	decrease	VERB
economy-1236	93	10	in	in	ADP
economy-1236	93	11	the	the	DET
economy-1236	93	12	presence	presence	NOUN
economy-1236	93	13	of	of	ADP
economy-1236	93	14	good	good	ADJ
economy-1236	93	15	governance	governance	NOUN
economy-1236	93	16	signaled	signal	VERB
economy-1236	93	17	by	by	ADP
economy-1236	93	18	a	a	DET
economy-1236	93	19	high	high	ADJ
economy-1236	93	20	level	level	NOUN
economy-1236	93	21	of	of	ADP
economy-1236	93	22	independence	independence	NOUN
economy-1236	93	23	.	.	PUNCT
economy-1236	94	1	malmendier	malmendier	NOUN
economy-1236	94	2	and	and	CCONJ
economy-1236	94	3	tate	tate	NOUN
economy-1236	94	4	(	(	PUNCT
economy-1236	94	5	2005	2005	NUM
economy-1236	94	6	)	)	PUNCT
economy-1236	94	7	;	;	PUNCT
economy-1236	94	8	malmendier	malmendier	NOUN
economy-1236	94	9	and	and	CCONJ
economy-1236	94	10	tate	tate	NOUN
economy-1236	94	11	(	(	PUNCT
economy-1236	94	12	2008	2008	NUM
economy-1236	94	13	)	)	PUNCT
economy-1236	94	14	;	;	PUNCT
economy-1236	94	15	malmendier	malmendier	NOUN
economy-1236	94	16	and	and	CCONJ
economy-1236	94	17	tate	tate	NOUN
economy-1236	94	18	(	(	PUNCT
economy-1236	94	19	2015	2015	NUM
economy-1236	94	20	)	)	PUNCT
economy-1236	94	21	find	find	VERB
economy-1236	94	22	that	that	SCONJ
economy-1236	94	23	the	the	DET
economy-1236	94	24	optimistic	optimistic	ADJ
economy-1236	94	25	manager	manager	NOUN
economy-1236	94	26	will	will	AUX
economy-1236	94	27	give	give	VERB
economy-1236	94	28	priority	priority	NOUN
economy-1236	94	29	to	to	ADP
economy-1236	94	30	self	self	NOUN
economy-1236	94	31	-	-	PUNCT
economy-1236	94	32	financing	financing	NOUN
economy-1236	94	33	,	,	PUNCT
economy-1236	94	34	then	then	ADV
economy-1236	94	35	debt	debt	NOUN
economy-1236	94	36	and	and	CCONJ
economy-1236	94	37	ultimately	ultimately	ADV
economy-1236	94	38	to	to	ADP
economy-1236	94	39	the	the	DET
economy-1236	94	40	issuance	issuance	NOUN
economy-1236	94	41	of	of	ADP
economy-1236	94	42	shares	share	NOUN
economy-1236	94	43	.	.	PUNCT
economy-1236	95	1	this	this	DET
economy-1236	95	2	preference	preference	NOUN
economy-1236	95	3	for	for	ADP
economy-1236	95	4	self	self	NOUN
economy-1236	95	5	-	-	PUNCT
economy-1236	95	6	financing	financing	NOUN
economy-1236	95	7	is	be	AUX
economy-1236	95	8	justified	justify	VERB
economy-1236	95	9	by	by	ADP
economy-1236	95	10	the	the	DET
economy-1236	95	11	presence	presence	NOUN
economy-1236	95	12	of	of	ADP
economy-1236	95	13	effective	effective	ADJ
economy-1236	95	14	control	control	NOUN
economy-1236	95	15	.	.	PUNCT
economy-1236	96	1	in	in	ADP
economy-1236	96	2	fact	fact	NOUN
economy-1236	96	3	,	,	PUNCT
economy-1236	96	4	the	the	DET
economy-1236	96	5	presence	presence	NOUN
economy-1236	96	6	of	of	ADP
economy-1236	96	7	independent	independent	ADJ
economy-1236	96	8	auditors	auditor	NOUN
economy-1236	96	9	obliges	oblige	VERB
economy-1236	96	10	the	the	DET
economy-1236	96	11	manager	manager	NOUN
economy-1236	96	12	to	to	PART
economy-1236	96	13	minimize	minimize	VERB
economy-1236	96	14	the	the	DET
economy-1236	96	15	financial	financial	ADJ
economy-1236	96	16	risk	risk	NOUN
economy-1236	96	17	of	of	ADP
economy-1236	96	18	his	his	PRON
economy-1236	96	19	company	company	NOUN
economy-1236	96	20	by	by	ADP
economy-1236	96	21	a	a	DET
economy-1236	96	22	weak	weak	ADJ
economy-1236	96	23	recourse	recourse	NOUN
economy-1236	96	24	to	to	ADP
economy-1236	96	25	the	the	DET
economy-1236	96	26	external	external	ADJ
economy-1236	96	27	modes	mode	NOUN
economy-1236	96	28	of	of	ADP
economy-1236	96	29	financing	financing	NOUN
economy-1236	96	30	(	(	PUNCT
economy-1236	96	31	debt	debt	NOUN
economy-1236	96	32	choice	choice	NOUN
economy-1236	96	33	and	and	CCONJ
economy-1236	96	34	equity	equity	NOUN
economy-1236	96	35	)	)	PUNCT
economy-1236	96	36	.	.	PUNCT
economy-1236	97	1	this	this	PRON
economy-1236	97	2	implies	imply	VERB
economy-1236	97	3	a	a	DET
economy-1236	97	4	negative	negative	ADJ
economy-1236	97	5	correlation	correlation	NOUN
economy-1236	97	6	between	between	ADP
economy-1236	97	7	the	the	DET
economy-1236	97	8	external	external	ADJ
economy-1236	97	9	directors	director	NOUN
economy-1236	97	10	and	and	CCONJ
economy-1236	97	11	the	the	DET
economy-1236	97	12	firm	firm	ADJ
economy-1236	97	13	debt	debt	NOUN
economy-1236	97	14	ratio	ratio	NOUN
economy-1236	97	15	.	.	PUNCT
economy-1236	98	1	ben	ben	PROPN
economy-1236	98	2	-	-	PUNCT
economy-1236	98	3	david	david	PROPN
economy-1236	98	4	et	et	PROPN
economy-1236	98	5	al	al	PROPN
economy-1236	98	6	.	.	PROPN
economy-1236	98	7	(	(	PUNCT
economy-1236	98	8	2010	2010	NUM
economy-1236	98	9	)	)	PUNCT
economy-1236	98	10	add	add	VERB
economy-1236	98	11	that	that	SCONJ
economy-1236	98	12	optimistic	optimistic	ADJ
economy-1236	98	13	managers	manager	NOUN
economy-1236	98	14	will	will	AUX
economy-1236	98	15	tend	tend	VERB
economy-1236	98	16	to	to	PART
economy-1236	98	17	underestimate	underestimate	VERB
economy-1236	98	18	the	the	DET
economy-1236	98	19	volatility	volatility	NOUN
economy-1236	98	20	of	of	ADP
economy-1236	98	21	their	their	PRON
economy-1236	98	22	company	company	NOUN
economy-1236	98	23	's	's	PART
economy-1236	98	24	future	future	ADJ
economy-1236	98	25	cash	cash	NOUN
economy-1236	98	26	flows	flow	NOUN
economy-1236	98	27	or	or	CCONJ
economy-1236	98	28	overweight	overweight	VERB
economy-1236	98	29	their	their	PRON
economy-1236	98	30	private	private	ADJ
economy-1236	98	31	signals	signal	NOUN
economy-1236	98	32	relative	relative	ADJ
economy-1236	98	33	to	to	ADP
economy-1236	98	34	public	public	ADJ
economy-1236	98	35	information	information	NOUN
economy-1236	98	36	.	.	PUNCT
economy-1236	99	1	this	this	DET
economy-1236	99	2	underestimation	underestimation	NOUN
economy-1236	99	3	of	of	ADP
economy-1236	99	4	risk	risk	NOUN
economy-1236	99	5	prompts	prompt	NOUN
economy-1236	99	6	optimistic	optimistic	ADJ
economy-1236	99	7	leaders	leader	NOUN
economy-1236	99	8	to	to	PART
economy-1236	99	9	make	make	VERB
economy-1236	99	10	a	a	DET
economy-1236	99	11	risky	risky	ADJ
economy-1236	99	12	decision	decision	NOUN
economy-1236	99	13	(	(	PUNCT
economy-1236	99	14	the	the	DET
economy-1236	99	15	choice	choice	NOUN
economy-1236	99	16	of	of	ADP
economy-1236	99	17	debt	debt	NOUN
economy-1236	99	18	)	)	PUNCT
economy-1236	99	19	.	.	PUNCT
economy-1236	100	1	it	it	PRON
economy-1236	100	2	is	be	AUX
economy-1236	100	3	for	for	ADP
economy-1236	100	4	this	this	DET
economy-1236	100	5	reason	reason	NOUN
economy-1236	100	6	that	that	SCONJ
economy-1236	100	7	shareholders	shareholder	NOUN
economy-1236	100	8	require	require	VERB
economy-1236	100	9	a	a	DET
economy-1236	100	10	high	high	ADJ
economy-1236	100	11	level	level	NOUN
economy-1236	100	12	of	of	ADP
economy-1236	100	13	independence	independence	NOUN
economy-1236	100	14	in	in	ADP
economy-1236	100	15	the	the	DET
economy-1236	100	16	board	board	NOUN
economy-1236	100	17	of	of	ADP
economy-1236	100	18	directors	director	NOUN
economy-1236	100	19	.	.	PUNCT
economy-1236	101	1	thus	thus	ADV
economy-1236	101	2	,	,	PUNCT
economy-1236	101	3	the	the	DET
economy-1236	101	4	presence	presence	NOUN
economy-1236	101	5	of	of	ADP
economy-1236	101	6	a	a	DET
economy-1236	101	7	highly	highly	ADV
economy-1236	101	8	qualified	qualified	ADJ
economy-1236	101	9	director	director	NOUN
economy-1236	101	10	to	to	PART
economy-1236	101	11	assess	assess	VERB
economy-1236	101	12	the	the	DET
economy-1236	101	13	real	real	ADJ
economy-1236	101	14	risk	risk	NOUN
economy-1236	101	15	of	of	ADP
economy-1236	101	16	the	the	DET
economy-1236	101	17	company	company	NOUN
economy-1236	101	18	limits	limit	VERB
economy-1236	101	19	the	the	DET
economy-1236	101	20	biased	biased	ADJ
economy-1236	101	21	decision	decision	NOUN
economy-1236	101	22	(	(	PUNCT
economy-1236	101	23	debt	debt	NOUN
economy-1236	101	24	choice	choice	NOUN
economy-1236	101	25	)	)	PUNCT
economy-1236	101	26	.	.	PUNCT
economy-1236	102	1	this	this	PRON
economy-1236	102	2	implies	imply	VERB
economy-1236	102	3	a	a	DET
economy-1236	102	4	negative	negative	ADJ
economy-1236	102	5	correlation	correlation	NOUN
economy-1236	102	6	between	between	ADP
economy-1236	102	7	the	the	DET
economy-1236	102	8	external	external	ADJ
economy-1236	102	9	directors	director	NOUN
economy-1236	102	10	and	and	CCONJ
economy-1236	102	11	the	the	DET
economy-1236	102	12	firm	firm	ADJ
economy-1236	102	13	debt	debt	NOUN
economy-1236	102	14	ratio	ratio	NOUN
economy-1236	102	15	.	.	PUNCT
economy-1236	103	1	it	it	PRON
economy-1236	103	2	is	be	AUX
economy-1236	103	3	in	in	ADP
economy-1236	103	4	this	this	DET
economy-1236	103	5	context	context	NOUN
economy-1236	103	6	that	that	SCONJ
economy-1236	103	7	the	the	DET
economy-1236	103	8	current	current	ADJ
economy-1236	103	9	work	work	NOUN
economy-1236	103	10	can	can	AUX
economy-1236	103	11	be	be	AUX
economy-1236	103	12	done	do	VERB
economy-1236	103	13	,	,	PUNCT
economy-1236	103	14	with	with	ADP
economy-1236	103	15	an	an	DET
economy-1236	103	16	attempt	attempt	NOUN
economy-1236	103	17	to	to	PART
economy-1236	103	18	test	test	VERB
economy-1236	103	19	the	the	DET
economy-1236	103	20	following	follow	VERB
economy-1236	103	21	hypothesis	hypothesis	NOUN
economy-1236	103	22	:	:	PUNCT
economy-1236	103	23	h1	h1	PROPN
economy-1236	103	24	:	:	PUNCT
economy-1236	103	25	board	board	PROPN
economy-1236	103	26	of	of	ADP
economy-1236	103	27	director	director	NOUN
economy-1236	103	28	’s	’s	PART
economy-1236	103	29	independency	independency	NOUN
economy-1236	103	30	(	(	PUNCT
economy-1236	103	31	low	low	ADJ
economy-1236	103	32	level	level	NOUN
economy-1236	103	33	of	of	ADP
economy-1236	103	34	managerial	managerial	ADJ
economy-1236	103	35	optimism	optimism	NOUN
economy-1236	103	36	)	)	PUNCT
economy-1236	103	37	is	be	AUX
economy-1236	103	38	negatively	negatively	ADV
economy-1236	103	39	correlated	correlate	VERB
economy-1236	103	40	with	with	ADP
economy-1236	103	41	firm	firm	ADJ
economy-1236	103	42	debt	debt	NOUN
economy-1236	103	43	ratios	ratio	NOUN
economy-1236	103	44	.	.	PUNCT
economy-1236	104	1	2.2	2.2	NUM
economy-1236	104	2	.	.	PUNCT
economy-1236	104	3	managerial	managerial	ADJ
economy-1236	104	4	optimism	optimism	NOUN
economy-1236	104	5	,	,	PUNCT
economy-1236	104	6	board	board	NOUN
economy-1236	104	7	of	of	ADP
economy-1236	104	8	director	director	NOUN
economy-1236	104	9	’s	’s	PART
economy-1236	104	10	size	size	NOUN
economy-1236	104	11	and	and	CCONJ
economy-1236	104	12	debt	debt	NOUN
economy-1236	104	13	choice	choice	NOUN
economy-1236	104	14	size	size	NOUN
economy-1236	104	15	is	be	AUX
economy-1236	104	16	one	one	NUM
economy-1236	104	17	of	of	ADP
economy-1236	104	18	the	the	DET
economy-1236	104	19	most	most	ADV
economy-1236	104	20	important	important	ADJ
economy-1236	104	21	features	feature	NOUN
economy-1236	104	22	that	that	PRON
economy-1236	104	23	can	can	AUX
economy-1236	104	24	affect	affect	VERB
economy-1236	104	25	board	board	NOUN
economy-1236	104	26	efficiency	efficiency	NOUN
economy-1236	104	27	.	.	PUNCT
economy-1236	105	1	according	accord	VERB
economy-1236	105	2	to	to	ADP
economy-1236	105	3	jensen	jensen	PROPN
economy-1236	105	4	(	(	PUNCT
economy-1236	105	5	1993	1993	NUM
economy-1236	105	6	)	)	PUNCT
economy-1236	105	7	and	and	CCONJ
economy-1236	105	8	lipton	lipton	PROPN
economy-1236	105	9	and	and	CCONJ
economy-1236	105	10	lorsch	lorsch	PROPN
economy-1236	105	11	(	(	PUNCT
economy-1236	105	12	1992	1992	NUM
economy-1236	105	13	)	)	PUNCT
economy-1236	105	14	a	a	DET
economy-1236	105	15	small	small	ADJ
economy-1236	105	16	board	board	NOUN
economy-1236	105	17	can	can	AUX
economy-1236	105	18	perform	perform	VERB
economy-1236	105	19	its	its	PRON
economy-1236	105	20	task	task	NOUN
economy-1236	105	21	properly	properly	ADV
economy-1236	105	22	.	.	PUNCT
economy-1236	106	1	thus	thus	ADV
economy-1236	106	2	,	,	PUNCT
economy-1236	106	3	a	a	DET
economy-1236	106	4	small	small	ADJ
economy-1236	106	5	board	board	NOUN
economy-1236	106	6	limits	limit	VERB
economy-1236	106	7	the	the	DET
economy-1236	106	8	sub	sub	NOUN
economy-1236	106	9	optimal	optimal	ADJ
economy-1236	106	10	decisions	decision	NOUN
economy-1236	106	11	of	of	ADP
economy-1236	106	12	an	an	DET
economy-1236	106	13	optimistic	optimistic	ADJ
economy-1236	106	14	leaders	leader	NOUN
economy-1236	106	15	whose	whose	DET
economy-1236	106	16	rising	rise	VERB
economy-1236	106	17	debt	debt	NOUN
economy-1236	106	18	level	level	NOUN
economy-1236	106	19	.	.	PUNCT
economy-1236	107	1	the	the	DET
economy-1236	107	2	board	board	NOUN
economy-1236	107	3	size	size	NOUN
economy-1236	107	4	has	have	VERB
economy-1236	107	5	a	a	DET
economy-1236	107	6	significant	significant	ADJ
economy-1236	107	7	impact	impact	NOUN
economy-1236	107	8	in	in	ADP
economy-1236	107	9	determining	determine	VERB
economy-1236	107	10	debt	debt	NOUN
economy-1236	107	11	ratio	ratio	NOUN
economy-1236	107	12	.	.	PUNCT
economy-1236	108	1	they	they	PRON
economy-1236	108	2	concluded	conclude	VERB
economy-1236	108	3	that	that	SCONJ
economy-1236	108	4	the	the	DET
economy-1236	108	5	large	large	ADJ
economy-1236	108	6	board	board	NOUN
economy-1236	108	7	of	of	ADP
economy-1236	108	8	directors	director	NOUN
economy-1236	108	9	,	,	PUNCT
economy-1236	108	10	making	make	VERB
economy-1236	108	11	firm	firm	ADJ
economy-1236	108	12	more	more	ADV
economy-1236	108	13	inclined	inclined	ADJ
economy-1236	108	14	to	to	PART
economy-1236	108	15	take	take	VERB
economy-1236	108	16	risks	risk	NOUN
economy-1236	108	17	and	and	CCONJ
economy-1236	108	18	seek	seek	VERB
economy-1236	108	19	external	external	ADJ
economy-1236	108	20	financing	financing	NOUN
economy-1236	108	21	resources	resource	NOUN
economy-1236	108	22	.	.	PUNCT
economy-1236	109	1	this	this	PRON
economy-1236	109	2	is	be	AUX
economy-1236	109	3	explained	explain	VERB
economy-1236	109	4	by	by	ADP
economy-1236	109	5	the	the	DET
economy-1236	109	6	fact	fact	NOUN
economy-1236	109	7	that	that	SCONJ
economy-1236	109	8	the	the	DET
economy-1236	109	9	presence	presence	NOUN
economy-1236	109	10	of	of	ADP
economy-1236	109	11	a	a	DET
economy-1236	109	12	significant	significant	ADJ
economy-1236	109	13	number	number	NOUN
economy-1236	109	14	of	of	ADP
economy-1236	109	15	administrators	administrator	NOUN
economy-1236	109	16	implies	imply	VERB
economy-1236	109	17	the	the	DET
economy-1236	109	18	increase	increase	NOUN
economy-1236	109	19	of	of	ADP
economy-1236	109	20	the	the	DET
economy-1236	109	21	cognitive	cognitive	ADJ
economy-1236	109	22	conflicts	conflict	NOUN
economy-1236	109	23	and	and	CCONJ
economy-1236	109	24	reduces	reduce	VERB
economy-1236	109	25	board	board	NOUN
economy-1236	109	26	effectiveness	effectiveness	NOUN
economy-1236	109	27	in	in	ADP
economy-1236	109	28	the	the	DET
economy-1236	109	29	control	control	NOUN
economy-1236	109	30	of	of	ADP
economy-1236	109	31	the	the	DET
economy-1236	109	32	leader	leader	NOUN
economy-1236	109	33	.	.	PUNCT
economy-1236	110	1	this	this	DET
economy-1236	110	2	optimistic	optimistic	ADJ
economy-1236	110	3	leader	leader	NOUN
economy-1236	110	4	of	of	ADP
economy-1236	110	5	his	his	PRON
economy-1236	110	6	company	company	NOUN
economy-1236	110	7	's	's	PART
economy-1236	110	8	capabilities	capability	NOUN
economy-1236	110	9	is	be	AUX
economy-1236	110	10	aware	aware	ADJ
economy-1236	110	11	of	of	ADP
economy-1236	110	12	weak	weak	ADJ
economy-1236	110	13	control	control	NOUN
economy-1236	110	14	uses	use	VERB
economy-1236	110	15	more	more	ADV
economy-1236	110	16	risky	risky	ADJ
economy-1236	110	17	decisions	decision	NOUN
economy-1236	110	18	whose	whose	DET
economy-1236	110	19	preference	preference	NOUN
economy-1236	110	20	for	for	ADP
economy-1236	110	21	debt	debt	NOUN
economy-1236	110	22	.	.	PUNCT
economy-1236	111	1	gervais	gervais	PROPN
economy-1236	111	2	et	et	PROPN
economy-1236	111	3	al	al	PROPN
economy-1236	111	4	.	.	PROPN
economy-1236	112	1	(	(	PUNCT
economy-1236	112	2	2011	2011	NUM
economy-1236	112	3	)	)	PUNCT
economy-1236	112	4	have	have	AUX
economy-1236	112	5	shown	show	VERB
economy-1236	112	6	that	that	SCONJ
economy-1236	112	7	the	the	DET
economy-1236	112	8	capital	capital	NOUN
economy-1236	112	9	part	part	NOUN
economy-1236	112	10	is	be	AUX
economy-1236	112	11	the	the	DET
economy-1236	112	12	leader	leader	NOUN
economy-1236	112	13	is	be	AUX
economy-1236	112	14	a	a	DET
economy-1236	112	15	means	means	NOUN
economy-1236	112	16	of	of	ADP
economy-1236	112	17	convergence	convergence	NOUN
economy-1236	112	18	of	of	ADP
economy-1236	112	19	interests	interest	NOUN
economy-1236	112	20	with	with	ADP
economy-1236	112	21	these	these	DET
economy-1236	112	22	shareholders	shareholder	NOUN
economy-1236	112	23	.	.	PUNCT
economy-1236	113	1	the	the	DET
economy-1236	113	2	goal	goal	NOUN
economy-1236	113	3	of	of	ADP
economy-1236	113	4	a	a	DET
economy-1236	113	5	leader	leader	NOUN
economy-1236	113	6	is	be	AUX
economy-1236	113	7	to	to	PART
economy-1236	113	8	counter	counter	VERB
economy-1236	113	9	the	the	DET
economy-1236	113	10	control	control	NOUN
economy-1236	113	11	mechanisms	mechanism	NOUN
economy-1236	113	12	,	,	PUNCT
economy-1236	113	13	including	include	VERB
economy-1236	113	14	the	the	DET
economy-1236	113	15	board	board	NOUN
economy-1236	113	16	of	of	ADP
economy-1236	113	17	directors	director	NOUN
economy-1236	113	18	.	.	PUNCT
economy-1236	114	1	in	in	ADP
economy-1236	114	2	other	other	ADJ
economy-1236	114	3	words	word	NOUN
economy-1236	114	4	,	,	PUNCT
economy-1236	114	5	an	an	DET
economy-1236	114	6	optimistic	optimistic	ADJ
economy-1236	114	7	leader	leader	NOUN
economy-1236	114	8	increases	increase	VERB
economy-1236	114	9	his	his	PRON
economy-1236	114	10	share	share	NOUN
economy-1236	114	11	of	of	ADP
economy-1236	114	12	capital	capital	NOUN
economy-1236	114	13	to	to	PART
economy-1236	114	14	limit	limit	VERB
economy-1236	114	15	the	the	DET
economy-1236	114	16	effectiveness	effectiveness	NOUN
economy-1236	114	17	of	of	ADP
economy-1236	114	18	small	small	ADJ
economy-1236	114	19	board	board	NOUN
economy-1236	114	20	and	and	CCONJ
economy-1236	114	21	make	make	VERB
economy-1236	114	22	risky	risky	ADJ
economy-1236	114	23	decisions	decision	NOUN
economy-1236	114	24	including	include	VERB
economy-1236	114	25	the	the	DET
economy-1236	114	26	debt	debt	NOUN
economy-1236	114	27	choice	choice	NOUN
economy-1236	114	28	.	.	PUNCT
economy-1236	115	1	jiraporn	jiraporn	NOUN
economy-1236	115	2	et	et	PROPN
economy-1236	115	3	al	al	PROPN
economy-1236	115	4	.	.	PROPN
economy-1236	116	1	(	(	PUNCT
economy-1236	116	2	2012	2012	NUM
economy-1236	116	3	)	)	PUNCT
economy-1236	116	4	find	find	VERB
economy-1236	116	5	that	that	SCONJ
economy-1236	116	6	firms	firm	NOUN
economy-1236	116	7	whose	whose	DET
economy-1236	116	8	managers	manager	NOUN
economy-1236	116	9	are	be	AUX
economy-1236	116	10	more	more	ADV
economy-1236	116	11	entrenched	entrenched	ADJ
economy-1236	116	12	(	(	PUNCT
economy-1236	116	13	with	with	ADP
economy-1236	116	14	large	large	ADJ
economy-1236	116	15	board	board	NOUN
economy-1236	116	16	of	of	ADP
economy-1236	116	17	directors	director	NOUN
economy-1236	116	18	)	)	PUNCT
economy-1236	116	19	are	be	AUX
economy-1236	116	20	significantly	significantly	ADV
economy-1236	116	21	more	more	ADV
economy-1236	116	22	leveraged	leveraged	ADJ
economy-1236	116	23	.	.	PUNCT
economy-1236	117	1	these	these	DET
economy-1236	117	2	authors	author	NOUN
economy-1236	117	3	then	then	ADV
economy-1236	117	4	argue	argue	VERB
economy-1236	117	5	that	that	SCONJ
economy-1236	117	6	debt	debt	NOUN
economy-1236	117	7	and	and	CCONJ
economy-1236	117	8	governance	governance	NOUN
economy-1236	117	9	play	play	VERB
economy-1236	117	10	the	the	DET
economy-1236	117	11	same	same	ADJ
economy-1236	117	12	role	role	NOUN
economy-1236	117	13	and	and	CCONJ
economy-1236	117	14	may	may	AUX
economy-1236	117	15	substitute	substitute	VERB
economy-1236	117	16	for	for	ADP
economy-1236	117	17	each	each	DET
economy-1236	117	18	other.this	other.this	PROPN
economy-1236	117	19	is	be	AUX
economy-1236	117	20	also	also	ADV
economy-1236	117	21	known	know	VERB
economy-1236	117	22	by	by	ADP
economy-1236	117	23	the	the	DET
economy-1236	117	24	optimism	optimism	NOUN
economy-1236	117	25	of	of	ADP
economy-1236	117	26	the	the	DET
economy-1236	117	27	leader	leader	NOUN
economy-1236	117	28	.	.	PUNCT
economy-1236	118	1	thus	thus	ADV
economy-1236	118	2	,	,	PUNCT
economy-1236	118	3	an	an	DET
economy-1236	118	4	optimistic	optimistic	ADJ
economy-1236	118	5	leader	leader	NOUN
economy-1236	118	6	prefers	prefer	VERB
economy-1236	118	7	indebtedness	indebtedness	NOUN
economy-1236	118	8	to	to	PART
economy-1236	118	9	signal	signal	VERB
economy-1236	118	10	his	his	PRON
economy-1236	118	11	good	good	ADJ
economy-1236	118	12	management	management	NOUN
economy-1236	118	13	.	.	PUNCT
economy-1236	119	1	debt	debt	NOUN
economy-1236	119	2	has	have	VERB
economy-1236	119	3	a	a	DET
economy-1236	119	4	decisive	decisive	ADJ
economy-1236	119	5	role	role	NOUN
economy-1236	119	6	and	and	CCONJ
economy-1236	119	7	becomes	become	VERB
economy-1236	119	8	a	a	DET
economy-1236	119	9	perfect	perfect	ADJ
economy-1236	119	10	substitute	substitute	NOUN
economy-1236	119	11	of	of	ADP
economy-1236	119	12	weak	weak	ADJ
economy-1236	119	13	control	control	NOUN
economy-1236	119	14	of	of	ADP
economy-1236	119	15	the	the	DET
economy-1236	119	16	board	board	NOUN
economy-1236	119	17	of	of	ADP
economy-1236	119	18	director	director	NOUN
economy-1236	119	19	’s	’s	X
economy-1236	119	20	.	.	PUNCT
economy-1236	120	1	so	so	ADV
economy-1236	120	2	a	a	DET
economy-1236	120	3	high	high	ADJ
economy-1236	120	4	level	level	NOUN
economy-1236	120	5	of	of	ADP
economy-1236	120	6	debt	debt	NOUN
economy-1236	120	7	is	be	AUX
economy-1236	120	8	used	use	VERB
economy-1236	120	9	by	by	ADP
economy-1236	120	10	the	the	DET
economy-1236	120	11	optimistic	optimistic	ADJ
economy-1236	120	12	ceo	ceo	NOUN
economy-1236	120	13	and	and	CCONJ
economy-1236	120	14	the	the	DET
economy-1236	120	15	presence	presence	NOUN
economy-1236	120	16	of	of	ADP
economy-1236	120	17	a	a	DET
economy-1236	120	18	large	large	ADJ
economy-1236	120	19	board	board	NOUN
economy-1236	120	20	.	.	PUNCT
economy-1236	121	1	azouzi	azouzi	PROPN
economy-1236	121	2	and	and	CCONJ
economy-1236	121	3	jarboui	jarboui	PROPN
economy-1236	121	4	(	(	PUNCT
economy-1236	121	5	2014	2014	NUM
economy-1236	121	6	)	)	PUNCT
economy-1236	121	7	show	show	VERB
economy-1236	121	8	that	that	SCONJ
economy-1236	121	9	optimistic	optimistic	ADJ
economy-1236	121	10	leaders	leader	NOUN
economy-1236	121	11	overestimate	overestimate	VERB
economy-1236	121	12	the	the	DET
economy-1236	121	13	expected	expect	VERB
economy-1236	121	14	return	return	NOUN
economy-1236	121	15	on	on	ADP
economy-1236	121	16	their	their	PRON
economy-1236	121	17	projects	project	NOUN
economy-1236	121	18	.	.	PUNCT
economy-1236	122	1	they	they	PRON
economy-1236	122	2	use	use	VERB
economy-1236	122	3	internal	internal	ADJ
economy-1236	122	4	financing	financing	NOUN
economy-1236	122	5	methods	method	NOUN
economy-1236	122	6	for	for	ADP
economy-1236	122	7	the	the	DET
economy-1236	122	8	payment	payment	NOUN
economy-1236	122	9	of	of	ADP
economy-1236	122	10	dividends	dividend	NOUN
economy-1236	122	11	.	.	PUNCT
economy-1236	123	1	they	they	PRON
economy-1236	123	2	seek	seek	VERB
economy-1236	123	3	to	to	PART
economy-1236	123	4	make	make	VERB
economy-1236	123	5	their	their	PRON
economy-1236	123	6	shareholders	shareholder	NOUN
economy-1236	123	7	more	more	ADV
economy-1236	123	8	loyal	loyal	ADJ
economy-1236	123	9	and	and	CCONJ
economy-1236	123	10	limit	limit	VERB
economy-1236	123	11	their	their	PRON
economy-1236	123	12	control	control	NOUN
economy-1236	123	13	(	(	PUNCT
economy-1236	123	14	small	small	ADJ
economy-1236	123	15	board	board	NOUN
economy-1236	123	16	)	)	PUNCT
economy-1236	123	17	.	.	PUNCT
economy-1236	124	1	consequently	consequently	ADV
economy-1236	124	2	,	,	PUNCT
economy-1236	124	3	they	they	PRON
economy-1236	124	4	use	use	VERB
economy-1236	124	5	the	the	DET
economy-1236	124	6	external	external	ADJ
economy-1236	124	7	mode	mode	NOUN
economy-1236	124	8	of	of	ADP
economy-1236	124	9	financing	finance	VERB
economy-1236	124	10	the	the	DET
economy-1236	124	11	least	least	ADV
economy-1236	124	12	risky	risky	ADJ
economy-1236	124	13	(	(	PUNCT
economy-1236	124	14	debt	debt	NOUN
economy-1236	124	15	)	)	PUNCT
economy-1236	124	16	to	to	PART
economy-1236	124	17	concretize	concretize	VERB
economy-1236	124	18	all	all	DET
economy-1236	124	19	the	the	DET
economy-1236	124	20	possible	possible	ADJ
economy-1236	124	21	opportunities	opportunity	NOUN
economy-1236	124	22	of	of	ADP
economy-1236	124	23	the	the	DET
economy-1236	124	24	company	company	NOUN
economy-1236	124	25	.	.	PUNCT
economy-1236	125	1	this	this	PRON
economy-1236	125	2	asserts	assert	VERB
economy-1236	125	3	that	that	SCONJ
economy-1236	125	4	even	even	ADV
economy-1236	125	5	in	in	ADP
economy-1236	125	6	the	the	DET
economy-1236	125	7	presence	presence	NOUN
economy-1236	125	8	of	of	ADP
economy-1236	125	9	an	an	DET
economy-1236	125	10	effective	effective	ADJ
economy-1236	125	11	control	control	NOUN
economy-1236	125	12	(	(	PUNCT
economy-1236	125	13	small	small	ADJ
economy-1236	125	14	board	board	NOUN
economy-1236	125	15	)	)	PUNCT
economy-1236	125	16	the	the	DET
economy-1236	125	17	leader	leader	NOUN
economy-1236	125	18	opts	opt	VERB
economy-1236	125	19	for	for	ADP
economy-1236	125	20	the	the	DET
economy-1236	125	21	debt	debt	NOUN
economy-1236	125	22	choice	choice	NOUN
economy-1236	125	23	.	.	PUNCT
economy-1236	126	1	the	the	DET
economy-1236	126	2	increase	increase	NOUN
economy-1236	126	3	in	in	ADP
economy-1236	126	4	the	the	DET
economy-1236	126	5	number	number	NOUN
economy-1236	126	6	of	of	ADP
economy-1236	126	7	board	board	NOUN
economy-1236	126	8	members	member	NOUN
economy-1236	126	9	to	to	PART
economy-1236	126	10	increase	increase	VERB
economy-1236	126	11	in	in	ADP
economy-1236	126	12	the	the	DET
economy-1236	126	13	debt	debt	NOUN
economy-1236	126	14	ratio.in	ratio.in	PRON
economy-1236	126	15	other	other	ADJ
economy-1236	126	16	words	word	NOUN
economy-1236	126	17	,	,	PUNCT
economy-1236	126	18	in	in	ADP
economy-1236	126	19	large	large	ADJ
economy-1236	126	20	board	board	NOUN
economy-1236	126	21	there	there	PRON
economy-1236	126	22	are	be	VERB
economy-1236	126	23	problems	problem	NOUN
economy-1236	126	24	of	of	ADP
economy-1236	126	25	coordination	coordination	NOUN
economy-1236	126	26	,	,	PUNCT
economy-1236	126	27	communication	communication	NOUN
economy-1236	126	28	and	and	CCONJ
economy-1236	126	29	decision	decision	NOUN
economy-1236	126	30	-	-	PUNCT
economy-1236	126	31	making	making	NOUN
economy-1236	126	32	.	.	PUNCT
economy-1236	127	1	in	in	ADP
economy-1236	127	2	this	this	DET
economy-1236	127	3	context	context	NOUN
economy-1236	127	4	the	the	DET
economy-1236	127	5	leader	leader	NOUN
economy-1236	127	6	becomes	become	VERB
economy-1236	127	7	freer	free	ADJ
economy-1236	127	8	in	in	ADP
economy-1236	127	9	the	the	DET
economy-1236	127	10	management	management	NOUN
economy-1236	127	11	of	of	ADP
economy-1236	127	12	the	the	DET
economy-1236	127	13	company	company	NOUN
economy-1236	127	14	.	.	PUNCT
economy-1236	128	1	this	this	DET
economy-1236	128	2	optimistic	optimistic	ADJ
economy-1236	128	3	and	and	CCONJ
economy-1236	128	4	less	less	ADV
economy-1236	128	5	controlled	control	VERB
economy-1236	128	6	leader	leader	NOUN
economy-1236	128	7	opts	opt	VERB
economy-1236	128	8	for	for	ADP
economy-1236	128	9	risky	risky	ADJ
economy-1236	128	10	decisions	decision	NOUN
economy-1236	128	11	,	,	PUNCT
economy-1236	128	12	including	include	VERB
economy-1236	128	13	the	the	DET
economy-1236	128	14	debt	debt	NOUN
economy-1236	128	15	economy	economy	NOUN
economy-1236	128	16	,	,	PUNCT
economy-1236	128	17	2019	2019	NUM
economy-1236	128	18	,	,	PUNCT
economy-1236	128	19	6(2	6(2	NUM
economy-1236	128	20	):	):	PUNCT
economy-1236	128	21	82	82	NUM
economy-1236	128	22	-	-	SYM
economy-1236	128	23	91	91	NUM
economy-1236	128	24	85	85	NUM
economy-1236	128	25	©	©	PROPN
economy-1236	128	26	2019	2019	NUM
economy-1236	128	27	by	by	ADP
economy-1236	128	28	the	the	DET
economy-1236	128	29	authors	author	NOUN
economy-1236	128	30	;	;	PUNCT
economy-1236	128	31	licensee	licensee	PROPN
economy-1236	128	32	asian	asian	ADJ
economy-1236	128	33	online	online	PROPN
economy-1236	128	34	journal	journal	PROPN
economy-1236	128	35	publishing	publishing	NOUN
economy-1236	128	36	group	group	NOUN
economy-1236	128	37	choice	choice	NOUN
economy-1236	128	38	.	.	PUNCT
economy-1236	129	1	this	this	PRON
economy-1236	129	2	implies	imply	VERB
economy-1236	129	3	a	a	DET
economy-1236	129	4	positive	positive	ADJ
economy-1236	129	5	correlation	correlation	NOUN
economy-1236	129	6	between	between	ADP
economy-1236	129	7	the	the	DET
economy-1236	129	8	board	board	NOUN
economy-1236	129	9	size	size	NOUN
economy-1236	129	10	and	and	CCONJ
economy-1236	129	11	the	the	DET
economy-1236	129	12	firm	firm	ADJ
economy-1236	129	13	debt	debt	NOUN
economy-1236	129	14	ratio.it	ratio.it	NUM
economy-1236	129	15	is	be	AUX
economy-1236	129	16	in	in	ADP
economy-1236	129	17	this	this	DET
economy-1236	129	18	context	context	NOUN
economy-1236	129	19	that	that	SCONJ
economy-1236	129	20	the	the	DET
economy-1236	129	21	current	current	ADJ
economy-1236	129	22	work	work	NOUN
economy-1236	129	23	can	can	AUX
economy-1236	129	24	be	be	AUX
economy-1236	129	25	done	do	VERB
economy-1236	129	26	,	,	PUNCT
economy-1236	129	27	with	with	ADP
economy-1236	129	28	an	an	DET
economy-1236	129	29	attempt	attempt	NOUN
economy-1236	129	30	to	to	PART
economy-1236	129	31	test	test	VERB
economy-1236	129	32	the	the	DET
economy-1236	129	33	following	follow	VERB
economy-1236	129	34	hypothesis	hypothesis	NOUN
economy-1236	129	35	:	:	PUNCT
economy-1236	129	36	h2	h2	NOUN
economy-1236	129	37	:	:	PUNCT
economy-1236	129	38	an	an	DET
economy-1236	129	39	optimistic	optimistic	ADJ
economy-1236	129	40	leader	leader	NOUN
economy-1236	129	41	in	in	ADP
economy-1236	129	42	a	a	DET
economy-1236	129	43	large	large	ADJ
economy-1236	129	44	board	board	NOUN
economy-1236	129	45	prefers	prefer	VERB
economy-1236	129	46	more	more	ADJ
economy-1236	129	47	debt	debt	NOUN
economy-1236	129	48	than	than	ADP
economy-1236	129	49	a	a	DET
economy-1236	129	50	rational	rational	ADJ
economy-1236	129	51	leader	leader	NOUN
economy-1236	129	52	.	.	PUNCT
economy-1236	130	1	2.3	2.3	NUM
economy-1236	130	2	.	.	PUNCT
economy-1236	130	3	managerial	managerial	ADJ
economy-1236	130	4	optimism	optimism	NOUN
economy-1236	130	5	,	,	PUNCT
economy-1236	130	6	ceo	ceo	NOUN
economy-1236	130	7	duality	duality	NOUN
economy-1236	130	8	and	and	CCONJ
economy-1236	130	9	debt	debt	NOUN
economy-1236	130	10	choice	choice	NOUN
economy-1236	130	11	ceo	ceo	NOUN
economy-1236	130	12	duality	duality	NOUN
economy-1236	130	13	is	be	AUX
economy-1236	130	14	defined	define	VERB
economy-1236	130	15	as	as	ADP
economy-1236	130	16	the	the	DET
economy-1236	130	17	occupation	occupation	NOUN
economy-1236	130	18	of	of	ADP
economy-1236	130	19	the	the	DET
economy-1236	130	20	post	post	NOUN
economy-1236	130	21	of	of	ADP
economy-1236	130	22	the	the	DET
economy-1236	130	23	executive	executive	ADJ
economy-1236	130	24	manager	manager	NOUN
economy-1236	130	25	and	and	CCONJ
economy-1236	130	26	the	the	DET
economy-1236	130	27	chairman	chairman	NOUN
economy-1236	130	28	of	of	ADP
economy-1236	130	29	the	the	DET
economy-1236	130	30	board	board	NOUN
economy-1236	130	31	of	of	ADP
economy-1236	130	32	directors	director	NOUN
economy-1236	130	33	at	at	ADP
economy-1236	130	34	the	the	DET
economy-1236	130	35	same	same	ADJ
economy-1236	130	36	time	time	NOUN
economy-1236	130	37	(	(	PUNCT
economy-1236	130	38	jensen	jensen	PROPN
economy-1236	130	39	,	,	PUNCT
economy-1236	130	40	1993	1993	NUM
economy-1236	130	41	)	)	PUNCT
economy-1236	130	42	.	.	PUNCT
economy-1236	131	1	the	the	DET
economy-1236	131	2	association	association	NOUN
economy-1236	131	3	between	between	ADP
economy-1236	131	4	the	the	DET
economy-1236	131	5	supervisory	supervisory	ADJ
economy-1236	131	6	and	and	CCONJ
economy-1236	131	7	management	management	NOUN
economy-1236	131	8	functions	function	NOUN
economy-1236	131	9	increases	increase	VERB
economy-1236	131	10	the	the	DET
economy-1236	131	11	leader	leader	NOUN
economy-1236	131	12	optimism	optimism	NOUN
economy-1236	131	13	level	level	NOUN
economy-1236	131	14	.	.	PUNCT
economy-1236	132	1	this	this	DET
economy-1236	132	2	optimistic	optimistic	ADJ
economy-1236	132	3	leader	leader	NOUN
economy-1236	132	4	will	will	AUX
economy-1236	132	5	tend	tend	VERB
economy-1236	132	6	to	to	PART
economy-1236	132	7	invest	invest	VERB
economy-1236	132	8	in	in	ADP
economy-1236	132	9	new	new	ADJ
economy-1236	132	10	projects	project	NOUN
economy-1236	132	11	.	.	PUNCT
economy-1236	133	1	they	they	PRON
economy-1236	133	2	are	be	AUX
economy-1236	133	3	forced	force	VERB
economy-1236	133	4	to	to	PART
economy-1236	133	5	choose	choose	VERB
economy-1236	133	6	debts	debt	NOUN
economy-1236	133	7	because	because	SCONJ
economy-1236	133	8	the	the	DET
economy-1236	133	9	presence	presence	NOUN
economy-1236	133	10	of	of	ADP
economy-1236	133	11	a	a	DET
economy-1236	133	12	strong	strong	ADJ
economy-1236	133	13	asymmetry	asymmetry	NOUN
economy-1236	133	14	of	of	ADP
economy-1236	133	15	information	information	NOUN
economy-1236	133	16	implies	imply	VERB
economy-1236	133	17	a	a	DET
economy-1236	133	18	higher	high	ADJ
economy-1236	133	19	premium	premium	NOUN
economy-1236	133	20	demanded	demand	VERB
economy-1236	133	21	by	by	ADP
economy-1236	133	22	the	the	DET
economy-1236	133	23	investors	investor	NOUN
economy-1236	133	24	in	in	ADP
economy-1236	133	25	case	case	NOUN
economy-1236	133	26	of	of	ADP
economy-1236	133	27	an	an	DET
economy-1236	133	28	issue	issue	NOUN
economy-1236	133	29	of	of	ADP
economy-1236	133	30	new	new	ADJ
economy-1236	133	31	securities	security	NOUN
economy-1236	133	32	.	.	PUNCT
economy-1236	134	1	the	the	DET
economy-1236	134	2	choice	choice	NOUN
economy-1236	134	3	of	of	ADP
economy-1236	134	4	debt	debt	NOUN
economy-1236	134	5	is	be	AUX
economy-1236	134	6	also	also	ADV
economy-1236	134	7	intended	intend	VERB
economy-1236	134	8	to	to	PART
economy-1236	134	9	reduce	reduce	VERB
economy-1236	134	10	the	the	DET
economy-1236	134	11	agency	agency	NOUN
economy-1236	134	12	conflict	conflict	NOUN
economy-1236	134	13	between	between	ADP
economy-1236	134	14	the	the	DET
economy-1236	134	15	optimistic	optimistic	ADJ
economy-1236	134	16	leader	leader	NOUN
economy-1236	134	17	and	and	CCONJ
economy-1236	134	18	these	these	DET
economy-1236	134	19	shareholders	shareholder	NOUN
economy-1236	134	20	.	.	PUNCT
economy-1236	135	1	fairchild	fairchild	NOUN
economy-1236	135	2	(	(	PUNCT
economy-1236	135	3	2005	2005	NUM
economy-1236	135	4	)	)	PUNCT
economy-1236	135	5	adds	add	VERB
economy-1236	135	6	that	that	SCONJ
economy-1236	135	7	the	the	DET
economy-1236	135	8	optimistic	optimistic	ADJ
economy-1236	135	9	leader	leader	NOUN
economy-1236	135	10	who	who	PRON
economy-1236	135	11	believes	believe	VERB
economy-1236	135	12	he	he	PRON
economy-1236	135	13	controls	control	VERB
economy-1236	135	14	the	the	DET
economy-1236	135	15	risk	risk	NOUN
economy-1236	135	16	of	of	ADP
economy-1236	135	17	his	his	PRON
economy-1236	135	18	business	business	NOUN
economy-1236	135	19	uses	use	VERB
economy-1236	135	20	risky	risky	ADJ
economy-1236	135	21	debt	debt	NOUN
economy-1236	135	22	.	.	PUNCT
economy-1236	136	1	the	the	DET
economy-1236	136	2	author	author	NOUN
economy-1236	136	3	shows	show	VERB
economy-1236	136	4	that	that	SCONJ
economy-1236	136	5	this	this	DET
economy-1236	136	6	leader	leader	NOUN
economy-1236	136	7	makes	make	VERB
economy-1236	136	8	arbitration	arbitration	NOUN
economy-1236	136	9	between	between	ADP
economy-1236	136	10	the	the	DET
economy-1236	136	11	probability	probability	NOUN
economy-1236	136	12	of	of	ADP
economy-1236	136	13	success	success	NOUN
economy-1236	136	14	of	of	ADP
economy-1236	136	15	a	a	DET
economy-1236	136	16	project	project	NOUN
economy-1236	136	17	and	and	CCONJ
economy-1236	136	18	its	its	PRON
economy-1236	136	19	costs	cost	NOUN
economy-1236	136	20	of	of	ADP
economy-1236	136	21	funding	funding	NOUN
economy-1236	136	22	.	.	PUNCT
economy-1236	137	1	this	this	DET
economy-1236	137	2	arbitrage	arbitrage	NOUN
economy-1236	137	3	is	be	AUX
economy-1236	137	4	affected	affect	VERB
economy-1236	137	5	by	by	ADP
economy-1236	137	6	the	the	DET
economy-1236	137	7	ability	ability	NOUN
economy-1236	137	8	to	to	PART
economy-1236	137	9	evaluate	evaluate	VERB
economy-1236	137	10	alternatives	alternative	NOUN
economy-1236	137	11	,	,	PUNCT
economy-1236	137	12	including	include	VERB
economy-1236	137	13	the	the	DET
economy-1236	137	14	optimism	optimism	NOUN
economy-1236	137	15	bias	bias	NOUN
economy-1236	137	16	.	.	PUNCT
economy-1236	138	1	in	in	ADP
economy-1236	138	2	other	other	ADJ
economy-1236	138	3	words	word	NOUN
economy-1236	138	4	,	,	PUNCT
economy-1236	138	5	the	the	DET
economy-1236	138	6	a	a	DET
economy-1236	138	7	dual	dual	ADJ
economy-1236	138	8	function	function	NOUN
economy-1236	138	9	favor	favor	NOUN
economy-1236	138	10	(	(	PUNCT
economy-1236	138	11	ceo	ceo	NOUN
economy-1236	138	12	duality	duality	NOUN
economy-1236	138	13	)	)	PUNCT
economy-1236	138	14	increases	increase	VERB
economy-1236	138	15	the	the	DET
economy-1236	138	16	level	level	NOUN
economy-1236	138	17	of	of	ADP
economy-1236	138	18	leader	leader	NOUN
economy-1236	138	19	optimism	optimism	NOUN
economy-1236	138	20	.	.	PUNCT
economy-1236	139	1	this	this	DET
economy-1236	139	2	bias	bias	NOUN
economy-1236	139	3	impels	impel	VERB
economy-1236	139	4	him	he	PRON
economy-1236	139	5	to	to	PART
economy-1236	139	6	take	take	VERB
economy-1236	139	7	risky	risky	ADJ
economy-1236	139	8	decisions	decision	NOUN
economy-1236	139	9	including	include	VERB
economy-1236	139	10	the	the	DET
economy-1236	139	11	preference	preference	NOUN
economy-1236	139	12	for	for	ADP
economy-1236	139	13	indebtedness	indebtedness	NOUN
economy-1236	139	14	.	.	PUNCT
economy-1236	140	1	petra	petra	PROPN
economy-1236	140	2	and	and	CCONJ
economy-1236	140	3	dorata	dorata	PROPN
economy-1236	140	4	(	(	PUNCT
economy-1236	140	5	2008	2008	NUM
economy-1236	140	6	)	)	PUNCT
economy-1236	140	7	study	study	VERB
economy-1236	140	8	the	the	DET
economy-1236	140	9	link	link	NOUN
economy-1236	140	10	between	between	ADP
economy-1236	140	11	the	the	DET
economy-1236	140	12	level	level	NOUN
economy-1236	140	13	of	of	ADP
economy-1236	140	14	incentives	incentive	NOUN
economy-1236	140	15	and	and	CCONJ
economy-1236	140	16	corporate	corporate	ADJ
economy-1236	140	17	governance	governance	NOUN
economy-1236	140	18	structures	structure	NOUN
economy-1236	140	19	.	.	PUNCT
economy-1236	141	1	the	the	DET
economy-1236	141	2	authors	author	NOUN
economy-1236	141	3	conclude	conclude	VERB
economy-1236	141	4	that	that	SCONJ
economy-1236	141	5	the	the	DET
economy-1236	141	6	presence	presence	NOUN
economy-1236	141	7	of	of	ADP
economy-1236	141	8	duality	duality	NOUN
economy-1236	141	9	ceo	ceo	NOUN
economy-1236	141	10	reduces	reduce	VERB
economy-1236	141	11	the	the	DET
economy-1236	141	12	level	level	NOUN
economy-1236	141	13	of	of	ADP
economy-1236	141	14	incentives	incentive	NOUN
economy-1236	141	15	.	.	PUNCT
economy-1236	142	1	in	in	ADP
economy-1236	142	2	other	other	ADJ
economy-1236	142	3	words	word	NOUN
economy-1236	142	4	,	,	PUNCT
economy-1236	142	5	duality	duality	NOUN
economy-1236	142	6	increases	increase	VERB
economy-1236	142	7	the	the	DET
economy-1236	142	8	leader	leader	NOUN
economy-1236	142	9	's	's	PART
economy-1236	142	10	level	level	NOUN
economy-1236	142	11	of	of	ADP
economy-1236	142	12	involvement	involvement	NOUN
economy-1236	142	13	and	and	CCONJ
economy-1236	142	14	optimism	optimism	NOUN
economy-1236	142	15	.	.	PUNCT
economy-1236	143	1	this	this	DET
economy-1236	143	2	optimistic	optimistic	ADJ
economy-1236	143	3	leader	leader	NOUN
economy-1236	143	4	has	have	VERB
economy-1236	143	5	more	more	ADJ
economy-1236	143	6	motivation	motivation	NOUN
economy-1236	143	7	to	to	PART
economy-1236	143	8	work	work	VERB
economy-1236	143	9	in	in	ADP
economy-1236	143	10	the	the	DET
economy-1236	143	11	interests	interest	NOUN
economy-1236	143	12	of	of	ADP
economy-1236	143	13	these	these	DET
economy-1236	143	14	shareholders	shareholder	NOUN
economy-1236	143	15	.	.	PUNCT
economy-1236	144	1	they	they	PRON
economy-1236	144	2	are	be	AUX
economy-1236	144	3	aware	aware	ADJ
economy-1236	144	4	that	that	SCONJ
economy-1236	144	5	the	the	DET
economy-1236	144	6	sub	sub	NOUN
economy-1236	144	7	market	market	NOUN
economy-1236	144	8	evaluates	evaluate	VERB
economy-1236	144	9	the	the	DET
economy-1236	144	10	value	value	NOUN
economy-1236	144	11	of	of	ADP
economy-1236	144	12	their	their	PRON
economy-1236	144	13	business	business	NOUN
economy-1236	144	14	.	.	PUNCT
economy-1236	145	1	he	he	PRON
economy-1236	145	2	has	have	AUX
economy-1236	145	3	urged	urge	VERB
economy-1236	145	4	to	to	PART
economy-1236	145	5	issue	issue	VERB
economy-1236	145	6	debt	debt	NOUN
economy-1236	145	7	securities	security	NOUN
economy-1236	145	8	to	to	PART
economy-1236	145	9	report	report	VERB
economy-1236	145	10	the	the	DET
economy-1236	145	11	solvency	solvency	NOUN
economy-1236	145	12	of	of	ADP
economy-1236	145	13	his	his	PRON
economy-1236	145	14	business	business	NOUN
economy-1236	145	15	.	.	PUNCT
economy-1236	146	1	he	he	PRON
economy-1236	146	2	seeks	seek	VERB
economy-1236	146	3	to	to	PART
economy-1236	146	4	benefit	benefit	VERB
economy-1236	146	5	from	from	ADP
economy-1236	146	6	reports	report	NOUN
economy-1236	146	7	debt	debt	NOUN
economy-1236	146	8	.	.	PUNCT
economy-1236	147	1	abor	abor	NOUN
economy-1236	147	2	(	(	PUNCT
economy-1236	147	3	2007	2007	NUM
economy-1236	147	4	)	)	PUNCT
economy-1236	147	5	;	;	PUNCT
economy-1236	147	6	vakilifard	vakilifard	NOUN
economy-1236	147	7	et	et	PROPN
economy-1236	147	8	al	al	PROPN
economy-1236	147	9	.	.	PROPN
economy-1236	147	10	(	(	PUNCT
economy-1236	147	11	2011	2011	NUM
economy-1236	147	12	)	)	PUNCT
economy-1236	147	13	and	and	CCONJ
economy-1236	147	14	mokarami	mokarami	PROPN
economy-1236	147	15	et	et	PROPN
economy-1236	147	16	al	al	PROPN
economy-1236	147	17	.	.	PROPN
economy-1236	148	1	(	(	PUNCT
economy-1236	148	2	2012	2012	NUM
economy-1236	148	3	)	)	PUNCT
economy-1236	148	4	argue	argue	VERB
economy-1236	148	5	that	that	SCONJ
economy-1236	148	6	duality	duality	NOUN
economy-1236	148	7	increases	increase	VERB
economy-1236	148	8	the	the	DET
economy-1236	148	9	manager	manager	NOUN
economy-1236	148	10	's	's	PART
economy-1236	148	11	preferences	preference	NOUN
economy-1236	148	12	for	for	ADP
economy-1236	148	13	debt	debt	NOUN
economy-1236	148	14	choice	choice	NOUN
economy-1236	148	15	.	.	PUNCT
economy-1236	149	1	thus	thus	ADV
economy-1236	149	2	,	,	PUNCT
economy-1236	149	3	duality	duality	NOUN
economy-1236	149	4	reduces	reduce	VERB
economy-1236	149	5	communication	communication	NOUN
economy-1236	149	6	conflicts	conflict	NOUN
economy-1236	149	7	and	and	CCONJ
economy-1236	149	8	favors	favor	VERB
economy-1236	149	9	the	the	DET
economy-1236	149	10	centralization	centralization	NOUN
economy-1236	149	11	of	of	ADP
economy-1236	149	12	the	the	DET
economy-1236	149	13	decision	decision	NOUN
economy-1236	149	14	.	.	PUNCT
economy-1236	150	1	this	this	DET
economy-1236	150	2	decisional	decisional	ADJ
economy-1236	150	3	centralization	centralization	NOUN
economy-1236	150	4	facilitates	facilitate	VERB
economy-1236	150	5	the	the	DET
economy-1236	150	6	function	function	NOUN
economy-1236	150	7	of	of	ADP
economy-1236	150	8	the	the	DET
economy-1236	150	9	leader	leader	NOUN
economy-1236	150	10	.	.	PUNCT
economy-1236	151	1	this	this	DET
economy-1236	151	2	context	context	NOUN
economy-1236	151	3	favors	favor	VERB
economy-1236	151	4	the	the	DET
economy-1236	151	5	emergence	emergence	NOUN
economy-1236	151	6	of	of	ADP
economy-1236	151	7	optimistic	optimistic	ADJ
economy-1236	151	8	leaders	leader	NOUN
economy-1236	151	9	.	.	PUNCT
economy-1236	152	1	these	these	DET
economy-1236	152	2	optimistic	optimistic	ADJ
economy-1236	152	3	leaders	leader	NOUN
economy-1236	152	4	seek	seek	VERB
economy-1236	152	5	to	to	PART
economy-1236	152	6	realize	realize	VERB
economy-1236	152	7	all	all	DET
economy-1236	152	8	the	the	DET
economy-1236	152	9	possible	possible	ADJ
economy-1236	152	10	investment	investment	NOUN
economy-1236	152	11	opportunities	opportunity	NOUN
economy-1236	152	12	of	of	ADP
economy-1236	152	13	their	their	PRON
economy-1236	152	14	companies	company	NOUN
economy-1236	152	15	.	.	PUNCT
economy-1236	153	1	they	they	PRON
economy-1236	153	2	choose	choose	VERB
economy-1236	153	3	debt	debt	NOUN
economy-1236	153	4	as	as	ADP
economy-1236	153	5	a	a	DET
economy-1236	153	6	method	method	NOUN
economy-1236	153	7	of	of	ADP
economy-1236	153	8	financing	financing	NOUN
economy-1236	153	9	to	to	PART
economy-1236	153	10	avoid	avoid	VERB
economy-1236	153	11	hostile	hostile	ADJ
economy-1236	153	12	public	public	ADJ
economy-1236	153	13	offers	offer	NOUN
economy-1236	153	14	.	.	PUNCT
economy-1236	154	1	their	their	PRON
economy-1236	154	2	objectives	objective	NOUN
economy-1236	154	3	are	be	AUX
economy-1236	154	4	to	to	PART
economy-1236	154	5	guarantee	guarantee	VERB
economy-1236	154	6	their	their	PRON
economy-1236	154	7	places	place	NOUN
economy-1236	154	8	in	in	ADP
economy-1236	154	9	the	the	DET
economy-1236	154	10	company	company	NOUN
economy-1236	154	11	.	.	PUNCT
economy-1236	155	1	dufour	dufour	PROPN
economy-1236	155	2	and	and	CCONJ
economy-1236	155	3	molay	molay	NOUN
economy-1236	155	4	(	(	PUNCT
economy-1236	155	5	2010	2010	NUM
economy-1236	155	6	)	)	PUNCT
economy-1236	155	7	postulate	postulate	VERB
economy-1236	155	8	that	that	SCONJ
economy-1236	155	9	the	the	DET
economy-1236	155	10	level	level	NOUN
economy-1236	155	11	of	of	ADP
economy-1236	155	12	indebtedness	indebtedness	NOUN
economy-1236	155	13	of	of	ADP
economy-1236	155	14	companies	company	NOUN
economy-1236	155	15	limits	limit	VERB
economy-1236	155	16	the	the	DET
economy-1236	155	17	risks	risk	NOUN
economy-1236	155	18	of	of	ADP
economy-1236	155	19	taking	take	VERB
economy-1236	155	20	control	control	NOUN
economy-1236	155	21	.	.	PUNCT
economy-1236	156	1	an	an	DET
economy-1236	156	2	optimistic	optimistic	ADJ
economy-1236	156	3	(	(	PUNCT
economy-1236	156	4	ceo	ceo	NOUN
economy-1236	156	5	duality	duality	NOUN
economy-1236	156	6	)	)	PUNCT
economy-1236	156	7	leader	leader	NOUN
economy-1236	156	8	about	about	ADP
economy-1236	156	9	the	the	DET
economy-1236	156	10	growth	growth	NOUN
economy-1236	156	11	opportunities	opportunity	NOUN
economy-1236	156	12	of	of	ADP
economy-1236	156	13	the	the	DET
economy-1236	156	14	company	company	NOUN
economy-1236	156	15	with	with	ADP
economy-1236	156	16	its	its	PRON
economy-1236	156	17	interest	interest	NOUN
economy-1236	156	18	to	to	PART
economy-1236	156	19	limit	limit	VERB
economy-1236	156	20	the	the	DET
economy-1236	156	21	risks	risk	NOUN
economy-1236	156	22	of	of	ADP
economy-1236	156	23	hostile	hostile	ADJ
economy-1236	156	24	acquisition	acquisition	NOUN
economy-1236	156	25	.	.	PUNCT
economy-1236	157	1	he	he	PRON
economy-1236	157	2	uses	use	VERB
economy-1236	157	3	a	a	DET
economy-1236	157	4	dual	dual	ADJ
economy-1236	157	5	function	function	NOUN
economy-1236	157	6	to	to	PART
economy-1236	157	7	find	find	VERB
economy-1236	157	8	a	a	DET
economy-1236	157	9	limited	limited	ADJ
economy-1236	157	10	debt	debt	NOUN
economy-1236	157	11	threshold	threshold	NOUN
economy-1236	157	12	,	,	PUNCT
economy-1236	157	13	the	the	DET
economy-1236	157	14	risk	risk	NOUN
economy-1236	157	15	of	of	ADP
economy-1236	157	16	hostile	hostile	ADJ
economy-1236	157	17	acquisition	acquisition	NOUN
economy-1236	157	18	and	and	CCONJ
economy-1236	157	19	the	the	DET
economy-1236	157	20	good	good	ADJ
economy-1236	157	21	health	health	NOUN
economy-1236	157	22	of	of	ADP
economy-1236	157	23	his	his	PRON
economy-1236	157	24	business	business	NOUN
economy-1236	157	25	.	.	PUNCT
economy-1236	158	1	it	it	PRON
economy-1236	158	2	is	be	AUX
economy-1236	158	3	in	in	ADP
economy-1236	158	4	this	this	DET
economy-1236	158	5	context	context	NOUN
economy-1236	158	6	that	that	SCONJ
economy-1236	158	7	the	the	DET
economy-1236	158	8	current	current	ADJ
economy-1236	158	9	work	work	NOUN
economy-1236	158	10	can	can	AUX
economy-1236	158	11	be	be	AUX
economy-1236	158	12	done	do	VERB
economy-1236	158	13	,	,	PUNCT
economy-1236	158	14	with	with	ADP
economy-1236	158	15	an	an	DET
economy-1236	158	16	attempt	attempt	NOUN
economy-1236	158	17	to	to	PART
economy-1236	158	18	test	test	VERB
economy-1236	158	19	the	the	DET
economy-1236	158	20	following	follow	VERB
economy-1236	158	21	hypothesis	hypothesis	NOUN
economy-1236	158	22	:	:	PUNCT
economy-1236	158	23	h3	h3	NOUN
economy-1236	158	24	:	:	PUNCT
economy-1236	158	25	ceo	ceo	NOUN
economy-1236	158	26	duality	duality	NOUN
economy-1236	158	27	(	(	PUNCT
economy-1236	158	28	high	high	ADJ
economy-1236	158	29	level	level	NOUN
economy-1236	158	30	of	of	ADP
economy-1236	158	31	optimism	optimism	NOUN
economy-1236	158	32	)	)	PUNCT
economy-1236	158	33	is	be	AUX
economy-1236	158	34	positively	positively	ADV
economy-1236	158	35	correlated	correlate	VERB
economy-1236	158	36	with	with	ADP
economy-1236	158	37	firm	firm	ADJ
economy-1236	158	38	debt	debt	NOUN
economy-1236	158	39	ratios	ratio	NOUN
economy-1236	158	40	.	.	PUNCT
economy-1236	159	1	3	3	X
economy-1236	159	2	.	.	X
economy-1236	159	3	research	research	NOUN
economy-1236	159	4	method	method	NOUN
economy-1236	159	5	3.1	3.1	NUM
economy-1236	159	6	.	.	PUNCT
economy-1236	159	7	data	datum	NOUN
economy-1236	159	8	to	to	PART
economy-1236	159	9	note	note	VERB
economy-1236	159	10	,	,	PUNCT
economy-1236	159	11	the	the	DET
economy-1236	159	12	empirical	empirical	ADJ
economy-1236	159	13	tests	test	NOUN
economy-1236	159	14	are	be	AUX
economy-1236	159	15	based	base	VERB
economy-1236	159	16	on	on	ADP
economy-1236	159	17	75	75	NUM
economy-1236	159	18	non	non	ADJ
economy-1236	159	19	-	-	ADJ
economy-1236	159	20	financial	financial	ADJ
economy-1236	159	21	tunisian	tunisian	ADJ
economy-1236	159	22	firms	firm	NOUN
economy-1236	159	23	during	during	ADP
economy-1236	159	24	the	the	DET
economy-1236	159	25	2016	2016	NUM
economy-1236	159	26	fiscal	fiscal	ADJ
economy-1236	159	27	year	year	NOUN
economy-1236	159	28	(	(	PUNCT
economy-1236	159	29	34	34	NUM
economy-1236	159	30	are	be	AUX
economy-1236	159	31	listed	list	VERB
economy-1236	159	32	companies	company	NOUN
economy-1236	159	33	and	and	CCONJ
economy-1236	159	34	41	41	NUM
economy-1236	159	35	are	be	AUX
economy-1236	159	36	non	non	ADJ
economy-1236	159	37	-	-	ADJ
economy-1236	159	38	listed	listed	ADJ
economy-1236	159	39	companies	company	NOUN
economy-1236	159	40	,	,	PUNCT
economy-1236	159	41	see	see	VERB
economy-1236	159	42	table	table	NOUN
economy-1236	159	43	1	1	NUM
economy-1236	159	44	.	.	PUNCT
economy-1236	160	1	all	all	DET
economy-1236	160	2	financial	financial	ADJ
economy-1236	160	3	firms	firm	NOUN
economy-1236	160	4	(	(	PUNCT
economy-1236	160	5	including	include	VERB
economy-1236	160	6	banks	bank	NOUN
economy-1236	160	7	)	)	PUNCT
economy-1236	160	8	outing	out	VERB
economy-1236	160	9	to	to	ADP
economy-1236	160	10	the	the	DET
economy-1236	160	11	fact	fact	NOUN
economy-1236	160	12	that	that	SCONJ
economy-1236	160	13	this	this	DET
economy-1236	160	14	business	business	NOUN
economy-1236	160	15	sector	sector	NOUN
economy-1236	160	16	is	be	AUX
economy-1236	160	17	regulated	regulate	VERB
economy-1236	160	18	and	and	CCONJ
economy-1236	160	19	likely	likely	ADJ
economy-1236	160	20	to	to	PART
economy-1236	160	21	have	have	VERB
economy-1236	160	22	fundamentally	fundamentally	ADV
economy-1236	160	23	different	different	ADJ
economy-1236	160	24	cash	cash	NOUN
economy-1236	160	25	flows	flow	NOUN
economy-1236	160	26	and	and	CCONJ
economy-1236	160	27	characteristics	characteristic	NOUN
economy-1236	160	28	.	.	PUNCT
economy-1236	161	1	firms	firm	NOUN
economy-1236	161	2	with	with	ADP
economy-1236	161	3	insufficient	insufficient	ADJ
economy-1236	161	4	data	datum	NOUN
economy-1236	161	5	regarding	regard	VERB
economy-1236	161	6	about	about	ADP
economy-1236	161	7	emotional	emotional	ADJ
economy-1236	161	8	characteristics	characteristic	NOUN
economy-1236	161	9	and	and	CCONJ
economy-1236	161	10	the	the	DET
economy-1236	161	11	board	board	NOUN
economy-1236	161	12	of	of	ADP
economy-1236	161	13	director	director	NOUN
economy-1236	161	14	’s	’s	PART
economy-1236	161	15	composition	composition	NOUN
economy-1236	161	16	are	be	AUX
economy-1236	161	17	also	also	ADV
economy-1236	161	18	excluded	exclude	VERB
economy-1236	161	19	.	.	PUNCT
economy-1236	162	1	the	the	DET
economy-1236	162	2	board	board	NOUN
economy-1236	162	3	’s	’s	PART
economy-1236	162	4	compositions	composition	NOUN
economy-1236	162	5	,	,	PUNCT
economy-1236	162	6	as	as	ADV
economy-1236	162	7	well	well	ADV
economy-1236	162	8	as	as	ADP
economy-1236	162	9	financial	financial	ADJ
economy-1236	162	10	characteristics	characteristic	NOUN
economy-1236	162	11	data	datum	NOUN
economy-1236	162	12	,	,	PUNCT
economy-1236	162	13	are	be	AUX
economy-1236	162	14	gathered	gather	VERB
economy-1236	162	15	from	from	ADP
economy-1236	162	16	the	the	DET
economy-1236	162	17	bvmt	bvmt	NOUN
economy-1236	162	18	annual	annual	ADJ
economy-1236	162	19	report	report	NOUN
economy-1236	162	20	.	.	PUNCT
economy-1236	163	1	emotional	emotional	ADJ
economy-1236	163	2	and	and	CCONJ
economy-1236	163	3	psychological	psychological	ADJ
economy-1236	163	4	characteristics	characteristic	NOUN
economy-1236	163	5	are	be	AUX
economy-1236	163	6	collected	collect	VERB
economy-1236	163	7	by	by	ADP
economy-1236	163	8	means	mean	NOUN
economy-1236	163	9	of	of	ADP
economy-1236	163	10	an	an	DET
economy-1236	163	11	administered	administer	VERB
economy-1236	163	12	questionnaire	questionnaire	NOUN
economy-1236	163	13	.	.	PUNCT
economy-1236	164	1	table-1.visited	table-1.visite	VERB
economy-1236	164	2	compagnie	compagnie	PROPN
economy-1236	164	3	.	.	PUNCT
economy-1236	165	1	initial	initial	ADJ
economy-1236	165	2	bvmt	bvmt	NOUN
economy-1236	165	3	sample	sample	NOUN
economy-1236	165	4	for	for	ADP
economy-1236	165	5	2016	2016	NUM
economy-1236	165	6	81	81	NUM
economy-1236	165	7	financial	financial	ADJ
economy-1236	165	8	firms	firm	NOUN
economy-1236	165	9	(	(	PUNCT
economy-1236	165	10	25	25	NUM
economy-1236	165	11	)	)	PUNCT
economy-1236	165	12	other	other	ADJ
economy-1236	165	13	non	non	ADJ
economy-1236	165	14	-	-	ADJ
economy-1236	165	15	financial	financial	ADJ
economy-1236	165	16	firms	firm	NOUN
economy-1236	165	17	49	49	NUM
economy-1236	165	18	insufficient	insufficient	ADJ
economy-1236	165	19	data	datum	NOUN
economy-1236	165	20	to	to	AUX
economy-1236	165	21	ceo	ceo	VERB
economy-1236	165	22	emotional	emotional	ADJ
economy-1236	165	23	characteristics	characteristic	NOUN
economy-1236	165	24	’	'	PUNCT
economy-1236	165	25	(	(	PUNCT
economy-1236	165	26	18	18	NUM
economy-1236	165	27	)	)	PUNCT
economy-1236	165	28	insufficient	insufficient	ADJ
economy-1236	165	29	data	datum	NOUN
economy-1236	165	30	to	to	ADP
economy-1236	165	31	board	board	NOUN
economy-1236	165	32	of	of	ADP
economy-1236	165	33	directors	director	NOUN
economy-1236	165	34	compositions	composition	NOUN
economy-1236	165	35	(	(	PUNCT
economy-1236	165	36	12	12	NUM
economy-1236	165	37	)	)	PUNCT
economy-1236	165	38	final	final	ADJ
economy-1236	165	39	sample	sample	NOUN
economy-1236	165	40	75	75	NUM
economy-1236	165	41	3.2	3.2	NUM
economy-1236	165	42	.	.	PUNCT
economy-1236	166	1	variables	variable	NOUN
economy-1236	166	2	’	'	PUNCT
economy-1236	166	3	measurement	measurement	NOUN
economy-1236	166	4	the	the	DET
economy-1236	166	5	objective	objective	NOUN
economy-1236	166	6	of	of	ADP
economy-1236	166	7	this	this	DET
economy-1236	166	8	section	section	NOUN
economy-1236	166	9	is	be	AUX
economy-1236	166	10	to	to	PART
economy-1236	166	11	determine	determine	VERB
economy-1236	166	12	the	the	DET
economy-1236	166	13	variables	variable	NOUN
economy-1236	166	14	’	'	PUNCT
economy-1236	166	15	measurement	measurement	NOUN
economy-1236	166	16	.	.	PUNCT
economy-1236	167	1	3.2.1	3.2.1	NUM
economy-1236	167	2	.	.	PUNCT
economy-1236	167	3	debt	debt	NOUN
economy-1236	167	4	level	level	NOUN
economy-1236	167	5	we	we	PRON
economy-1236	167	6	observe	observe	VERB
economy-1236	167	7	several	several	ADJ
economy-1236	167	8	authors	author	NOUN
economy-1236	167	9	(	(	PUNCT
economy-1236	167	10	hovakimian	hovakimian	PROPN
economy-1236	167	11	et	et	PROPN
economy-1236	167	12	al	al	PROPN
economy-1236	167	13	.	.	PROPN
economy-1236	167	14	,	,	PUNCT
economy-1236	167	15	2004	2004	NUM
economy-1236	167	16	)	)	PUNCT
economy-1236	167	17	have	have	AUX
economy-1236	167	18	selected	select	VERB
economy-1236	167	19	a	a	DET
economy-1236	167	20	variety	variety	NOUN
economy-1236	167	21	of	of	ADP
economy-1236	167	22	variables	variable	NOUN
economy-1236	167	23	that	that	PRON
economy-1236	167	24	measure	measure	VERB
economy-1236	167	25	the	the	DET
economy-1236	167	26	level	level	NOUN
economy-1236	167	27	of	of	ADP
economy-1236	167	28	debt	debt	NOUN
economy-1236	167	29	in	in	ADP
economy-1236	167	30	the	the	DET
economy-1236	167	31	company	company	NOUN
economy-1236	167	32	.	.	PUNCT
economy-1236	168	1	measures	measure	NOUN
economy-1236	168	2	such	such	ADJ
economy-1236	168	3	as	as	ADP
economy-1236	168	4	total	total	ADJ
economy-1236	168	5	debt	debt	NOUN
economy-1236	168	6	service	service	NOUN
economy-1236	168	7	ratio	ratio	NOUN
economy-1236	168	8	.	.	PUNCT
economy-1236	169	1	other	other	ADJ
economy-1236	169	2	shave	shave	NOUN
economy-1236	169	3	used	use	VERB
economy-1236	169	4	the	the	DET
economy-1236	169	5	debt	debt	NOUN
economy-1236	169	6	ratio	ratio	NOUN
economy-1236	169	7	in	in	ADP
economy-1236	169	8	the	the	DET
economy-1236	169	9	medium	medium	ADJ
economy-1236	169	10	and	and	CCONJ
economy-1236	169	11	long	long	ADJ
economy-1236	169	12	term	term	NOUN
economy-1236	169	13	(	(	PUNCT
economy-1236	169	14	myers	myer	NOUN
economy-1236	169	15	,	,	PUNCT
economy-1236	169	16	2001	2001	NUM
economy-1236	169	17	)	)	PUNCT
economy-1236	169	18	.	.	PUNCT
economy-1236	170	1	the	the	DET
economy-1236	170	2	debt	debt	NOUN
economy-1236	170	3	ratio	ratio	NOUN
economy-1236	170	4	in	in	ADP
economy-1236	170	5	the	the	DET
economy-1236	170	6	short	short	ADJ
economy-1236	170	7	term	term	NOUN
economy-1236	170	8	was	be	AUX
economy-1236	170	9	also	also	ADV
economy-1236	170	10	used	use	VERB
economy-1236	170	11	by	by	ADP
economy-1236	170	12	titman	titman	NOUN
economy-1236	170	13	(	(	PUNCT
economy-1236	170	14	1984	1984	NUM
economy-1236	170	15	)	)	PUNCT
economy-1236	170	16	.	.	PUNCT
economy-1236	171	1	as	as	ADP
economy-1236	171	2	part	part	NOUN
economy-1236	171	3	of	of	ADP
economy-1236	171	4	our	our	PRON
economy-1236	171	5	analysis	analysis	NOUN
economy-1236	171	6	we	we	PRON
economy-1236	171	7	propose	propose	VERB
economy-1236	171	8	to	to	PART
economy-1236	171	9	use	use	VERB
economy-1236	171	10	the	the	DET
economy-1236	171	11	debt	debt	NOUN
economy-1236	171	12	ratio	ratio	NOUN
economy-1236	171	13	as	as	ADP
economy-1236	171	14	a	a	DET
economy-1236	171	15	measure	measure	NOUN
economy-1236	171	16	of	of	ADP
economy-1236	171	17	this	this	DET
economy-1236	171	18	variable	variable	NOUN
economy-1236	171	19	.	.	PUNCT
economy-1236	172	1	it	it	PRON
economy-1236	172	2	should	should	AUX
economy-1236	172	3	be	be	AUX
economy-1236	172	4	noted	note	VERB
economy-1236	172	5	that	that	SCONJ
economy-1236	172	6	this	this	DET
economy-1236	172	7	ratio	ratio	NOUN
economy-1236	172	8	is	be	AUX
economy-1236	172	9	calculated	calculate	VERB
economy-1236	172	10	by	by	ADP
economy-1236	172	11	:	:	PUNCT
economy-1236	172	12	leverage	leverage	NOUN
economy-1236	172	13	ratios	ratio	NOUN
economy-1236	172	14	(	(	PUNCT
economy-1236	172	15	lev	lev	NOUN
economy-1236	172	16	)	)	PUNCT
economy-1236	172	17	=	=	PUNCT
economy-1236	173	1	(	(	PUNCT
economy-1236	173	2	total	total	ADJ
economy-1236	173	3	debt	debt	NOUN
economy-1236	173	4	/	/	SYM
economy-1236	173	5	total	total	ADJ
economy-1236	173	6	assets	asset	NOUN
economy-1236	173	7	)	)	PUNCT
economy-1236	173	8	.	.	PUNCT
economy-1236	174	1	this	this	DET
economy-1236	174	2	measure	measure	NOUN
economy-1236	174	3	is	be	AUX
economy-1236	174	4	also	also	ADV
economy-1236	174	5	used	use	VERB
economy-1236	174	6	by	by	ADP
economy-1236	174	7	koh	koh	PROPN
economy-1236	174	8	(	(	PUNCT
economy-1236	174	9	2003	2003	NUM
economy-1236	174	10	)	)	PUNCT
economy-1236	174	11	;	;	PUNCT
economy-1236	174	12	demaria	demaria	NOUN
economy-1236	174	13	and	and	CCONJ
economy-1236	174	14	dufour	dufour	PROPN
economy-1236	174	15	(	(	PUNCT
economy-1236	174	16	2007	2007	NUM
economy-1236	174	17	)	)	PUNCT
economy-1236	174	18	;	;	PUNCT
economy-1236	174	19	jarboui	jarboui	NOUN
economy-1236	174	20	and	and	CCONJ
economy-1236	174	21	olivero	olivero	PROPN
economy-1236	174	22	(	(	PUNCT
economy-1236	174	23	2008	2008	NUM
economy-1236	174	24	)	)	PUNCT
economy-1236	174	25	;	;	PUNCT
economy-1236	174	26	ben	ben	PROPN
economy-1236	174	27	-	-	PROPN
economy-1236	174	28	david	david	PROPN
economy-1236	174	29	et	et	PROPN
economy-1236	174	30	al	al	PROPN
economy-1236	174	31	.	.	PROPN
economy-1236	174	32	(	(	PUNCT
economy-1236	174	33	2010	2010	NUM
economy-1236	174	34	)	)	PUNCT
economy-1236	174	35	and	and	CCONJ
economy-1236	174	36	sahut	sahut	NOUN
economy-1236	174	37	and	and	CCONJ
economy-1236	174	38	gharbi	gharbi	NOUN
economy-1236	174	39	(	(	PUNCT
economy-1236	174	40	2008	2008	NUM
economy-1236	174	41	)	)	PUNCT
economy-1236	174	42	;	;	PUNCT
economy-1236	174	43	azouzi	azouzi	PROPN
economy-1236	174	44	and	and	CCONJ
economy-1236	174	45	jarboui	jarboui	PROPN
economy-1236	174	46	(	(	PUNCT
economy-1236	174	47	2012	2012	NUM
economy-1236	174	48	)	)	PUNCT
economy-1236	174	49	.	.	PUNCT
economy-1236	175	1	to	to	PART
economy-1236	175	2	show	show	VERB
economy-1236	175	3	that	that	SCONJ
economy-1236	175	4	the	the	DET
economy-1236	175	5	manager	manager	NOUN
economy-1236	175	6	uses	use	VERB
economy-1236	175	7	debt	debt	NOUN
economy-1236	175	8	or	or	CCONJ
economy-1236	175	9	not	not	PART
economy-1236	175	10	,	,	PUNCT
economy-1236	175	11	we	we	PRON
economy-1236	175	12	can	can	AUX
economy-1236	175	13	use	use	VERB
economy-1236	175	14	the	the	DET
economy-1236	175	15	change	change	NOUN
economy-1236	175	16	in	in	ADP
economy-1236	175	17	debt	debt	NOUN
economy-1236	175	18	ratio	ratio	NOUN
economy-1236	175	19	.	.	PUNCT
economy-1236	176	1	a	a	DET
economy-1236	176	2	positive	positive	ADJ
economy-1236	176	3	change	change	NOUN
economy-1236	176	4	indicates	indicate	VERB
economy-1236	176	5	the	the	DET
economy-1236	176	6	use	use	NOUN
economy-1236	176	7	of	of	ADP
economy-1236	176	8	debt	debt	NOUN
economy-1236	176	9	.	.	PUNCT
economy-1236	177	1	leverage	leverage	NOUN
economy-1236	177	2	ratios	ratio	NOUN
economy-1236	177	3	variation	variation	NOUN
economy-1236	177	4	=	=	SYM
economy-1236	177	5	levn	levn	NOUN
economy-1236	177	6	–	–	PUNCT
economy-1236	177	7	levn-1/	levn-1/	NOUN
economy-1236	177	8	levn-1	levn-1	NUM
economy-1236	177	9	3.2.2	3.2.2	NUM
economy-1236	177	10	.	.	PUNCT
economy-1236	178	1	managerial	managerial	ADJ
economy-1236	178	2	optimism	optimism	NOUN
economy-1236	178	3	economy	economy	NOUN
economy-1236	178	4	,	,	PUNCT
economy-1236	178	5	2019	2019	NUM
economy-1236	178	6	,	,	PUNCT
economy-1236	178	7	6(2	6(2	NUM
economy-1236	178	8	):	):	PUNCT
economy-1236	178	9	82	82	NUM
economy-1236	178	10	-	-	SYM
economy-1236	178	11	91	91	NUM
economy-1236	178	12	86	86	NUM
economy-1236	179	1	©	©	PROPN
economy-1236	179	2	2019	2019	NUM
economy-1236	179	3	by	by	ADP
economy-1236	179	4	the	the	DET
economy-1236	179	5	authors	author	NOUN
economy-1236	179	6	;	;	PUNCT
economy-1236	179	7	licensee	licensee	PROPN
economy-1236	179	8	asian	asian	ADJ
economy-1236	179	9	online	online	PROPN
economy-1236	179	10	journal	journal	PROPN
economy-1236	179	11	publishing	publishing	NOUN
economy-1236	179	12	group	group	NOUN
economy-1236	179	13	the	the	DET
economy-1236	179	14	questionnaire	questionnaire	NOUN
economy-1236	179	15	focuses	focus	VERB
economy-1236	179	16	on	on	ADP
economy-1236	179	17	evaluating	evaluate	VERB
economy-1236	179	18	and	and	CCONJ
economy-1236	179	19	scoring	scoring	NOUN
economy-1236	179	20	of	of	ADP
economy-1236	179	21	the	the	DET
economy-1236	179	22	ceo	ceo	NOUN
economy-1236	179	23	optimism	optimism	NOUN
economy-1236	179	24	level	level	NOUN
economy-1236	179	25	the	the	DET
economy-1236	179	26	questions	question	NOUN
economy-1236	179	27	have	have	AUX
economy-1236	179	28	been	be	AUX
economy-1236	179	29	inspired	inspire	VERB
economy-1236	179	30	from	from	ADP
economy-1236	179	31	the	the	DET
economy-1236	179	32	questionnaires	questionnaire	NOUN
economy-1236	179	33	formulated	formulate	VERB
economy-1236	179	34	by	by	ADP
economy-1236	179	35	the	the	DET
economy-1236	179	36	fern	fern	PROPN
economy-1236	179	37	hill	hill	NOUN
economy-1236	179	38	and	and	CCONJ
economy-1236	179	39	industrial	industrial	ADJ
economy-1236	179	40	alliance	alliance	NOUN
economy-1236	179	41	companies	company	NOUN
economy-1236	179	42	table	table	VERB
economy-1236	179	43	2	2	NUM
economy-1236	179	44	.	.	PUNCT
economy-1236	180	1	the	the	DET
economy-1236	180	2	emotional	emotional	ADJ
economy-1236	180	3	bias	bias	NOUN
economy-1236	180	4	takes	take	VERB
economy-1236	180	5	two	two	NUM
economy-1236	180	6	follows	follow	VERB
economy-1236	180	7	:	:	PUNCT
economy-1236	180	8			NOUN
economy-1236	180	9	1	1	NUM
economy-1236	180	10	if	if	SCONJ
economy-1236	180	11	the	the	DET
economy-1236	180	12	individual	individual	NOUN
economy-1236	180	13	has	have	VERB
economy-1236	180	14	a	a	DET
economy-1236	180	15	high	high	ADJ
economy-1236	180	16	level	level	NOUN
economy-1236	180	17	for	for	ADP
economy-1236	180	18	optimism	optimism	NOUN
economy-1236	180	19	.	.	PUNCT
economy-1236	181	1			X
economy-1236	181	2	0	0	PUNCT
economy-1236	182	1	if	if	SCONJ
economy-1236	182	2	not	not	PART
economy-1236	182	3	.	.	PUNCT
economy-1236	183	1	table-2	table-2	X
economy-1236	183	2	.	.	PUNCT
economy-1236	184	1	items	item	NOUN
economy-1236	184	2	used	use	VERB
economy-1236	184	3	in	in	ADP
economy-1236	184	4	the	the	DET
economy-1236	184	5	optimism	optimism	NOUN
economy-1236	184	6	scale	scale	NOUN
economy-1236	184	7	(	(	PUNCT
economy-1236	184	8	10	10	NUM
economy-1236	184	9	items	item	NOUN
economy-1236	184	10	)	)	PUNCT
economy-1236	184	11	.	.	PUNCT
economy-1236	185	1	items	item	NOUN
economy-1236	185	2	factor	factor	NOUN
economy-1236	185	3	1	1	NUM
economy-1236	185	4	:	:	PUNCT
economy-1236	185	5	estimate	estimate	NOUN
economy-1236	185	6	of	of	ADP
economy-1236	185	7	future	future	ADJ
economy-1236	185	8	returns	return	NOUN
economy-1236	185	9	25.17	25.17	NUM
economy-1236	185	10	%	%	NOUN
economy-1236	185	11	factor	factor	NOUN
economy-1236	185	12	2	2	NUM
economy-1236	185	13	:	:	PUNCT
economy-1236	185	14	estimate	estimate	NOUN
economy-1236	185	15	of	of	ADP
economy-1236	185	16	growth	growth	NOUN
economy-1236	185	17	opportunities	opportunitie	VERB
economy-1236	185	18	18.18	18.18	NUM
economy-1236	185	19	%	%	NOUN
economy-1236	185	20	factor	factor	NOUN
economy-1236	185	21	3	3	NUM
economy-1236	185	22	:	:	PUNCT
economy-1236	185	23	ability	ability	NOUN
economy-1236	185	24	to	to	PART
economy-1236	185	25	solve	solve	VERB
economy-1236	185	26	problems	problem	NOUN
economy-1236	185	27	13.75	13.75	NUM
economy-1236	185	28	%	%	NOUN
economy-1236	185	29	factor	factor	NOUN
economy-1236	185	30	4	4	NUM
economy-1236	185	31	:	:	PUNCT
economy-1236	185	32	overestimation	overestimation	NOUN
economy-1236	185	33	of	of	ADP
economy-1236	185	34	the	the	DET
economy-1236	185	35	personal	personal	ADJ
economy-1236	185	36	situation	situation	NOUN
economy-1236	185	37	10.40	10.40	NUM
economy-1236	185	38	%	%	NOUN
economy-1236	185	39	1	1	NUM
economy-1236	185	40	.	.	NOUN
economy-1236	186	1	which	which	PRON
economy-1236	186	2	of	of	ADP
economy-1236	186	3	the	the	DET
economy-1236	186	4	following	following	NOUN
economy-1236	186	5	best	good	ADJ
economy-1236	186	6	describes	describe	VERB
economy-1236	186	7	your	your	PRON
economy-1236	186	8	financial	financial	ADJ
economy-1236	186	9	goals	goal	NOUN
economy-1236	186	10	?	?	PUNCT
economy-1236	187	1	0.832514	0.832514	NUM
economy-1236	187	2	2.you	2.you	PRON
economy-1236	187	3	are	be	AUX
economy-1236	187	4	very	very	ADV
economy-1236	187	5	comfortable	comfortable	ADJ
economy-1236	187	6	with	with	ADP
economy-1236	187	7	investments	investment	NOUN
economy-1236	187	8	that	that	PRON
economy-1236	187	9	have	have	VERB
economy-1236	187	10	the	the	DET
economy-1236	187	11	potential	potential	NOUN
economy-1236	187	12	for	for	ADP
economy-1236	187	13	high	high	ADJ
economy-1236	187	14	returns	return	NOUN
economy-1236	187	15	even	even	ADV
economy-1236	187	16	though	though	SCONJ
economy-1236	187	17	they	they	PRON
economy-1236	187	18	will	will	AUX
economy-1236	187	19	periodically	periodically	ADV
economy-1236	187	20	drop	drop	VERB
economy-1236	187	21	in	in	ADP
economy-1236	187	22	value	value	NOUN
economy-1236	187	23	0.773015	0.773015	NUM
economy-1236	187	24	3.my	3.my	NUM
economy-1236	187	25	previous	previous	ADJ
economy-1236	187	26	investments	investment	NOUN
economy-1236	187	27	are	be	AUX
economy-1236	187	28	always	always	ADV
economy-1236	187	29	successful	successful	ADJ
economy-1236	187	30	thanks	thank	NOUN
economy-1236	187	31	to	to	ADP
economy-1236	187	32	my	my	PRON
economy-1236	187	33	specific	specific	ADJ
economy-1236	187	34	skills	skill	NOUN
economy-1236	187	35	0.713358	0.713358	NUM
economy-1236	188	1	4.how	4.how	INTJ
economy-1236	188	2	do	do	AUX
economy-1236	188	3	you	you	PRON
economy-1236	188	4	see	see	VERB
economy-1236	188	5	the	the	DET
economy-1236	188	6	next	next	ADJ
economy-1236	188	7	twelve	twelve	NUM
economy-1236	188	8	months	month	NOUN
economy-1236	188	9	?	?	PUNCT
economy-1236	189	1	the	the	DET
economy-1236	189	2	general	general	ADJ
economy-1236	189	3	situation	situation	NOUN
economy-1236	189	4	of	of	ADP
economy-1236	189	5	your	your	PRON
economy-1236	189	6	company	company	NOUN
economy-1236	189	7	's	's	PART
economy-1236	189	8	0.696078	0.696078	NUM
economy-1236	189	9	5.i	5.i	NUM
economy-1236	189	10	intend	intend	VERB
economy-1236	189	11	to	to	PART
economy-1236	189	12	increase	increase	VERB
economy-1236	189	13	my	my	PRON
economy-1236	189	14	investments	investment	NOUN
economy-1236	189	15	in	in	ADP
economy-1236	189	16	the	the	DET
economy-1236	189	17	next	next	ADJ
economy-1236	189	18	12	12	NUM
economy-1236	189	19	months	month	NOUN
economy-1236	189	20	0.808931	0.808931	NUM
economy-1236	189	21	6.in	6.in	NUM
economy-1236	189	22	times	time	NOUN
economy-1236	189	23	of	of	ADP
economy-1236	189	24	uncertainty	uncertainty	NOUN
economy-1236	189	25	,	,	PUNCT
economy-1236	189	26	i	i	PRON
economy-1236	189	27	usually	usually	ADV
economy-1236	189	28	expect	expect	VERB
economy-1236	189	29	the	the	DET
economy-1236	189	30	best	good	ADJ
economy-1236	189	31	0.761058	0.761058	NUM
economy-1236	189	32	7	7	NUM
economy-1236	189	33	.	.	PUNCT
economy-1236	190	1	how	how	SCONJ
economy-1236	190	2	do	do	AUX
economy-1236	190	3	you	you	PRON
economy-1236	190	4	see	see	VERB
economy-1236	190	5	your	your	PRON
economy-1236	190	6	profit	profit	NOUN
economy-1236	190	7	forecasts	forecast	NOUN
economy-1236	190	8	?	?	PUNCT
economy-1236	191	1	0.637175	0.637175	NUM
economy-1236	191	2	8	8	NUM
economy-1236	191	3	.	.	PUNCT
economy-1236	192	1	when	when	SCONJ
economy-1236	192	2	something	something	PRON
economy-1236	192	3	has	have	AUX
economy-1236	192	4	pissed	piss	VERB
economy-1236	192	5	me	i	PRON
economy-1236	192	6	off	off	ADP
economy-1236	192	7	,	,	PUNCT
economy-1236	192	8	i	i	PRON
economy-1236	192	9	can	can	AUX
economy-1236	192	10	calm	calm	VERB
economy-1236	192	11	down	down	ADP
economy-1236	192	12	quite	quite	ADV
economy-1236	192	13	quickly	quickly	ADV
economy-1236	192	14	0.705453	0.705453	NUM
economy-1236	192	15	9	9	NUM
economy-1236	192	16	.	.	PUNCT
economy-1236	193	1	your	your	PRON
economy-1236	193	2	future	future	NOUN
economy-1236	193	3	seems	seem	VERB
economy-1236	193	4	more	more	ADV
economy-1236	193	5	interesting	interesting	ADJ
economy-1236	193	6	than	than	ADP
economy-1236	193	7	your	your	PRON
economy-1236	193	8	passing	pass	VERB
economy-1236	193	9	0.636784	0.636784	NUM
economy-1236	193	10	10	10	NUM
economy-1236	193	11	.	.	PUNCT
economy-1236	194	1	in	in	ADP
economy-1236	194	2	my	my	PRON
economy-1236	194	3	daily	daily	ADJ
economy-1236	194	4	life	life	NOUN
economy-1236	194	5	,	,	PUNCT
economy-1236	194	6	my	my	PRON
economy-1236	194	7	emotions	emotion	NOUN
economy-1236	194	8	often	often	ADV
economy-1236	194	9	annoy	annoy	VERB
economy-1236	194	10	me	i	PRON
economy-1236	194	11	0.815148	0.815148	NUM
economy-1236	194	12	3.2.3	3.2.3	NUM
economy-1236	194	13	.	.	PUNCT
economy-1236	195	1	board	board	NOUN
economy-1236	195	2	of	of	ADP
economy-1236	195	3	directors	director	NOUN
economy-1236	195	4	according	accord	VERB
economy-1236	195	5	to	to	ADP
economy-1236	195	6	fama	fama	PROPN
economy-1236	195	7	and	and	CCONJ
economy-1236	195	8	jensen	jensen	PROPN
economy-1236	195	9	(	(	PUNCT
economy-1236	195	10	1983	1983	NUM
economy-1236	195	11	)	)	PUNCT
economy-1236	195	12	the	the	DET
economy-1236	195	13	board	board	NOUN
economy-1236	195	14	of	of	ADP
economy-1236	195	15	directors	director	NOUN
economy-1236	195	16	must	must	AUX
economy-1236	195	17	meet	meet	VERB
economy-1236	195	18	certain	certain	ADJ
economy-1236	195	19	characteristics	characteristic	NOUN
economy-1236	195	20	of	of	ADP
economy-1236	195	21	independence	independence	NOUN
economy-1236	195	22	,	,	PUNCT
economy-1236	195	23	size	size	NOUN
economy-1236	195	24	and	and	CCONJ
economy-1236	195	25	structure	structure	NOUN
economy-1236	195	26	in	in	ADP
economy-1236	195	27	order	order	NOUN
economy-1236	195	28	to	to	PART
economy-1236	195	29	fulfill	fulfill	VERB
economy-1236	195	30	its	its	PRON
economy-1236	195	31	control	control	NOUN
economy-1236	195	32	role	role	NOUN
economy-1236	195	33	effectively	effectively	ADV
economy-1236	195	34	.	.	PUNCT
economy-1236	196	1	3.2.3.1	3.2.3.1	X
economy-1236	196	2	.	.	PROPN
economy-1236	196	3	board	board	NOUN
economy-1236	196	4	size	size	NOUN
economy-1236	196	5	noteworthy	noteworthy	ADJ
economy-1236	196	6	,	,	PUNCT
economy-1236	196	7	the	the	DET
economy-1236	196	8	board	board	NOUN
economy-1236	196	9	’s	’s	PART
economy-1236	196	10	effectiveness	effectiveness	NOUN
economy-1236	196	11	highly	highly	ADV
economy-1236	196	12	depends	depend	VERB
economy-1236	196	13	on	on	ADP
economy-1236	196	14	the	the	DET
economy-1236	196	15	number	number	NOUN
economy-1236	196	16	of	of	ADP
economy-1236	196	17	directors	director	NOUN
economy-1236	196	18	and	and	CCONJ
economy-1236	196	19	its	its	PRON
economy-1236	196	20	size	size	NOUN
economy-1236	196	21	.	.	PUNCT
economy-1236	197	1	relevant	relevant	ADJ
economy-1236	197	2	literature	literature	NOUN
economy-1236	197	3	provides	provide	VERB
economy-1236	197	4	no	no	DET
economy-1236	197	5	consensus	consensus	NOUN
economy-1236	197	6	about	about	ADP
economy-1236	197	7	the	the	DET
economy-1236	197	8	direct	direct	ADJ
economy-1236	197	9	relationship	relationship	NOUN
economy-1236	197	10	between	between	ADP
economy-1236	197	11	the	the	DET
economy-1236	197	12	board	board	NOUN
economy-1236	197	13	size	size	NOUN
economy-1236	197	14	and	and	CCONJ
economy-1236	197	15	effectiveness	effectiveness	NOUN
economy-1236	197	16	.	.	PUNCT
economy-1236	198	1	on	on	ADP
economy-1236	198	2	the	the	DET
economy-1236	198	3	one	one	NUM
economy-1236	198	4	hand	hand	NOUN
economy-1236	198	5	,	,	PUNCT
economy-1236	198	6	a	a	DET
economy-1236	198	7	larger	large	ADJ
economy-1236	198	8	board	board	NOUN
economy-1236	198	9	is	be	AUX
economy-1236	198	10	less	less	ADV
economy-1236	198	11	likely	likely	ADJ
economy-1236	198	12	to	to	PART
economy-1236	198	13	operate	operate	VERB
economy-1236	198	14	effectively	effectively	ADV
economy-1236	198	15	and	and	CCONJ
economy-1236	198	16	is	be	AUX
economy-1236	198	17	easier	easy	ADJ
economy-1236	198	18	for	for	SCONJ
economy-1236	198	19	the	the	DET
economy-1236	198	20	ceo	ceo	NOUN
economy-1236	198	21	to	to	PART
economy-1236	198	22	control	control	VERB
economy-1236	198	23	(	(	PUNCT
economy-1236	198	24	jensen	jensen	PROPN
economy-1236	198	25	,	,	PUNCT
economy-1236	198	26	1993	1993	NUM
economy-1236	198	27	)	)	PUNCT
economy-1236	198	28	.	.	PUNCT
economy-1236	199	1	on	on	ADP
economy-1236	199	2	the	the	DET
economy-1236	199	3	other	other	ADJ
economy-1236	199	4	hand	hand	NOUN
economy-1236	199	5	,	,	PUNCT
economy-1236	199	6	yermack	yermack	NOUN
economy-1236	199	7	(	(	PUNCT
economy-1236	199	8	1996	1996	NUM
economy-1236	199	9	)	)	PUNCT
economy-1236	199	10	considers	consider	VERB
economy-1236	199	11	that	that	SCONJ
economy-1236	199	12	the	the	DET
economy-1236	199	13	board	board	NOUN
economy-1236	199	14	size	size	NOUN
economy-1236	199	15	is	be	AUX
economy-1236	199	16	a	a	DET
economy-1236	199	17	factor	factor	NOUN
economy-1236	199	18	among	among	ADP
economy-1236	199	19	a	a	DET
economy-1236	199	20	range	range	NOUN
economy-1236	199	21	of	of	ADP
economy-1236	199	22	variables	variable	NOUN
economy-1236	199	23	that	that	PRON
economy-1236	199	24	might	might	AUX
economy-1236	199	25	influence	influence	VERB
economy-1236	199	26	executive	executive	ADJ
economy-1236	199	27	compensation	compensation	NOUN
economy-1236	199	28	and	and	CCONJ
economy-1236	199	29	company	company	NOUN
economy-1236	199	30	performance	performance	NOUN
economy-1236	199	31	.	.	PUNCT
economy-1236	200	1	in	in	ADP
economy-1236	200	2	this	this	DET
economy-1236	200	3	study	study	NOUN
economy-1236	200	4	the	the	DET
economy-1236	200	5	directors	director	NOUN
economy-1236	200	6	’	’	PART
economy-1236	200	7	board	board	NOUN
economy-1236	200	8	size	size	NOUN
economy-1236	200	9	(	(	PUNCT
economy-1236	200	10	bsize	bsize	NOUN
economy-1236	200	11	)	)	PUNCT
economy-1236	200	12	has	have	AUX
economy-1236	200	13	simply	simply	ADV
economy-1236	200	14	been	be	AUX
economy-1236	200	15	measured	measure	VERB
economy-1236	200	16	by	by	ADP
economy-1236	200	17	the	the	DET
economy-1236	200	18	number	number	NOUN
economy-1236	200	19	of	of	ADP
economy-1236	200	20	its	its	PRON
economy-1236	200	21	members	member	NOUN
economy-1236	200	22	(	(	PUNCT
economy-1236	200	23	dechow	dechow	X
economy-1236	200	24	et	et	PROPN
economy-1236	200	25	al	al	PROPN
economy-1236	200	26	.	.	PROPN
economy-1236	200	27	,	,	PUNCT
economy-1236	200	28	1996	1996	NUM
economy-1236	200	29	;	;	PUNCT
economy-1236	200	30	yermack	yermack	NOUN
economy-1236	200	31	,	,	PUNCT
economy-1236	200	32	1996	1996	NUM
economy-1236	200	33	;	;	PUNCT
economy-1236	200	34	pigé	pigé	NOUN
economy-1236	200	35	,	,	PUNCT
economy-1236	200	36	1998	1998	NUM
economy-1236	200	37	;	;	PUNCT
economy-1236	200	38	coulton	coulton	PROPN
economy-1236	200	39	et	et	PROPN
economy-1236	200	40	al	al	PROPN
economy-1236	200	41	.	.	PROPN
economy-1236	200	42	,	,	PUNCT
economy-1236	200	43	2001	2001	NUM
economy-1236	200	44	)	)	PUNCT
economy-1236	200	45	.	.	PUNCT
economy-1236	201	1	3.2.3.2	3.2.3.2	NUM
economy-1236	201	2	.	.	PUNCT
economy-1236	201	3	board	board	NOUN
economy-1236	201	4	independence	independence	NOUN
economy-1236	201	5	the	the	DET
economy-1236	201	6	different	different	ADJ
economy-1236	201	7	characteristics	characteristic	NOUN
economy-1236	201	8	pertaining	pertain	VERB
economy-1236	201	9	to	to	ADP
economy-1236	201	10	the	the	DET
economy-1236	201	11	board	board	NOUN
economy-1236	201	12	’s	’s	PART
economy-1236	201	13	independence	independence	NOUN
economy-1236	201	14	are	be	AUX
economy-1236	201	15	measured	measure	VERB
economy-1236	201	16	by	by	ADP
economy-1236	201	17	the	the	DET
economy-1236	201	18	following	follow	VERB
economy-1236	201	19	variable	variable	NOUN
economy-1236	201	20	:	:	PUNCT
economy-1236	201	21	bind	bind	NOUN
economy-1236	201	22	is	be	AUX
economy-1236	201	23	defined	define	VERB
economy-1236	201	24	as	as	ADP
economy-1236	201	25	the	the	DET
economy-1236	201	26	percentage	percentage	NOUN
economy-1236	201	27	of	of	ADP
economy-1236	201	28	the	the	DET
economy-1236	201	29	board	board	NOUN
economy-1236	201	30	members	member	NOUN
economy-1236	201	31	who	who	PRON
economy-1236	201	32	are	be	AUX
economy-1236	201	33	simultaneously	simultaneously	ADV
economy-1236	201	34	independent	independent	ADJ
economy-1236	201	35	and	and	CCONJ
economy-1236	201	36	non	non	NOUN
economy-1236	201	37	-	-	NOUN
economy-1236	201	38	executives	executive	NOUN
economy-1236	201	39	which	which	PRON
economy-1236	201	40	is	be	AUX
economy-1236	201	41	equal	equal	ADJ
economy-1236	201	42	to	to	ADP
economy-1236	201	43	the	the	DET
economy-1236	201	44	number	number	NOUN
economy-1236	201	45	of	of	ADP
economy-1236	201	46	outside	outside	ADJ
economy-1236	201	47	directors	director	NOUN
economy-1236	201	48	divided	divide	VERB
economy-1236	201	49	by	by	ADP
economy-1236	201	50	the	the	DET
economy-1236	201	51	total	total	ADJ
economy-1236	201	52	board	board	NOUN
economy-1236	201	53	members	member	NOUN
economy-1236	201	54	(	(	PUNCT
economy-1236	201	55	forker	forker	PROPN
economy-1236	201	56	,	,	PUNCT
economy-1236	201	57	1992	1992	NUM
economy-1236	201	58	;	;	PUNCT
economy-1236	201	59	wright	wright	PROPN
economy-1236	201	60	,	,	PUNCT
economy-1236	201	61	1996	1996	NUM
economy-1236	201	62	;	;	PUNCT
economy-1236	201	63	haniffa	haniffa	NOUN
economy-1236	201	64	and	and	CCONJ
economy-1236	201	65	cooke	cooke	PROPN
economy-1236	201	66	,	,	PUNCT
economy-1236	201	67	2000	2000	NUM
economy-1236	201	68	;	;	PUNCT
economy-1236	201	69	coulton	coulton	PROPN
economy-1236	201	70	et	et	PROPN
economy-1236	201	71	al	al	PROPN
economy-1236	201	72	.	.	PROPN
economy-1236	201	73	,	,	PUNCT
economy-1236	201	74	2001	2001	NUM
economy-1236	201	75	)	)	PUNCT
economy-1236	201	76	.	.	PUNCT
economy-1236	202	1	bind	bind	VERB
economy-1236	202	2	=	=	NOUN
economy-1236	202	3	number	number	NOUN
economy-1236	202	4	of	of	ADP
economy-1236	202	5	outside	outside	ADJ
economy-1236	202	6	directors	director	NOUN
economy-1236	202	7	/total	/total	PROPN
economy-1236	202	8	board	board	PROPN
economy-1236	202	9	members	member	NOUN
economy-1236	202	10	3.2.3.3	3.2.3.3	NUM
economy-1236	202	11	.	.	PUNCT
economy-1236	203	1	ceo	ceo	NOUN
economy-1236	203	2	duality	duality	NOUN
economy-1236	203	3	board	board	NOUN
economy-1236	203	4	chairs	chair	NOUN
economy-1236	203	5	role	role	NOUN
economy-1236	203	6	consists	consist	VERB
economy-1236	203	7	in	in	ADP
economy-1236	203	8	monitoring	monitor	VERB
economy-1236	203	9	the	the	DET
economy-1236	203	10	ceo	ceo	NOUN
economy-1236	203	11	(	(	PUNCT
economy-1236	203	12	jensen	jensen	PROPN
economy-1236	203	13	,	,	PUNCT
economy-1236	203	14	1993	1993	NUM
economy-1236	203	15	)	)	PUNCT
economy-1236	203	16	.	.	PUNCT
economy-1236	204	1	the	the	DET
economy-1236	204	2	latter	latter	ADJ
economy-1236	204	3	supposes	suppose	VERB
economy-1236	204	4	that	that	SCONJ
economy-1236	204	5	ceos	ceo	NOUN
economy-1236	204	6	who	who	PRON
economy-1236	204	7	also	also	ADV
economy-1236	204	8	hold	hold	VERB
economy-1236	204	9	the	the	DET
economy-1236	204	10	position	position	NOUN
economy-1236	204	11	of	of	ADP
economy-1236	204	12	board	board	NOUN
economy-1236	204	13	chair	chair	NOUN
economy-1236	204	14	(	(	PUNCT
economy-1236	204	15	duality	duality	NOUN
economy-1236	204	16	)	)	PUNCT
economy-1236	204	17	exert	exert	VERB
economy-1236	204	18	an	an	DET
economy-1236	204	19	undue	undue	ADJ
economy-1236	204	20	influence	influence	NOUN
economy-1236	204	21	on	on	ADP
economy-1236	204	22	the	the	DET
economy-1236	204	23	board	board	NOUN
economy-1236	204	24	,	,	PUNCT
economy-1236	204	25	compromising	compromise	VERB
economy-1236	204	26	the	the	DET
economy-1236	204	27	strength	strength	NOUN
economy-1236	204	28	of	of	ADP
economy-1236	204	29	the	the	DET
economy-1236	204	30	board	board	NOUN
economy-1236	204	31	’s	’s	PART
economy-1236	204	32	governance	governance	NOUN
economy-1236	204	33	.	.	PUNCT
economy-1236	205	1	the	the	DET
economy-1236	205	2	board	board	NOUN
economy-1236	205	3	chairs	chair	NOUN
economy-1236	205	4	characteristics	characteristic	NOUN
economy-1236	205	5	are	be	AUX
economy-1236	205	6	defined	define	VERB
economy-1236	205	7	by	by	ADP
economy-1236	205	8	dual	dual	ADJ
economy-1236	205	9	=	=	SYM
economy-1236	205	10	1	1	NUM
economy-1236	205	11	if	if	SCONJ
economy-1236	205	12	the	the	DET
economy-1236	205	13	ceo	ceo	NOUN
economy-1236	205	14	also	also	ADV
economy-1236	205	15	owns	own	VERB
economy-1236	205	16	a	a	DET
economy-1236	205	17	board	board	NOUN
economy-1236	205	18	chair	chair	NOUN
economy-1236	205	19	and	and	CCONJ
economy-1236	205	20	0	0	NUM
economy-1236	205	21	otherwise	otherwise	ADV
economy-1236	205	22	table	table	NOUN
economy-1236	205	23	3	3	NUM
economy-1236	205	24	presents	present	VERB
economy-1236	205	25	the	the	DET
economy-1236	205	26	characteristics	characteristic	NOUN
economy-1236	205	27	of	of	ADP
economy-1236	205	28	boards	board	NOUN
economy-1236	205	29	of	of	ADP
economy-1236	205	30	directors	director	NOUN
economy-1236	205	31	of	of	ADP
economy-1236	205	32	the	the	DET
economy-1236	205	33	75	75	NUM
economy-1236	205	34	tunisian	tunisian	ADJ
economy-1236	205	35	companies	company	NOUN
economy-1236	205	36	included	include	VERB
economy-1236	205	37	in	in	ADP
economy-1236	205	38	our	our	PRON
economy-1236	205	39	study	study	NOUN
economy-1236	205	40	.	.	PUNCT
economy-1236	206	1	tunisian	tunisian	ADJ
economy-1236	206	2	companies	company	NOUN
economy-1236	206	3	are	be	AUX
economy-1236	206	4	run	run	VERB
economy-1236	206	5	by	by	ADP
economy-1236	206	6	independent	independent	ADJ
economy-1236	206	7	boards	board	NOUN
economy-1236	206	8	,	,	PUNCT
economy-1236	206	9	medium	medium	NOUN
economy-1236	206	10	(	(	PUNCT
economy-1236	206	11	seven	seven	NUM
economy-1236	206	12	directors	director	NOUN
economy-1236	206	13	)	)	PUNCT
economy-1236	206	14	and	and	CCONJ
economy-1236	206	15	not	not	PART
economy-1236	206	16	dominated	dominate	VERB
economy-1236	206	17	by	by	ADP
economy-1236	206	18	ceos	ceo	NOUN
economy-1236	206	19	.	.	PUNCT
economy-1236	207	1	table-3.board	table-3.board	PROPN
economy-1236	207	2	of	of	ADP
economy-1236	207	3	directors	director	NOUN
economy-1236	207	4	’	’	PART
economy-1236	207	5	characteristics	characteristic	NOUN
economy-1236	207	6	.	.	PUNCT
economy-1236	208	1	variable	variable	ADJ
economy-1236	208	2	mean	mean	NOUN
economy-1236	208	3	std	std	X
economy-1236	208	4	.	.	PUNCT
economy-1236	208	5	min	min	PROPN
economy-1236	208	6	max	max	PROPN
economy-1236	208	7	n	n	CCONJ
economy-1236	208	8	entire	entire	ADJ
economy-1236	208	9	board	board	NOUN
economy-1236	208	10	9.50	9.50	NUM
economy-1236	208	11	3.20	3.20	NUM
economy-1236	208	12	4	4	NUM
economy-1236	208	13	12	12	NUM
economy-1236	208	14	75	75	NUM
economy-1236	208	15	outside	outside	ADP
economy-1236	208	16	directors	director	NOUN
economy-1236	208	17	3.27	3.27	NUM
economy-1236	208	18	1.38	1.38	NUM
economy-1236	208	19	1	1	NUM
economy-1236	208	20	4	4	NUM
economy-1236	208	21	75	75	NUM
economy-1236	208	22	affiliated	affiliate	VERB
economy-1236	208	23	directors	director	NOUN
economy-1236	208	24	2.47	2.47	NUM
economy-1236	208	25	1	1	NUM
economy-1236	208	26	1	1	NUM
economy-1236	208	27	3	3	NUM
economy-1236	208	28	75	75	NUM
economy-1236	208	29	inside	inside	ADP
economy-1236	208	30	directors	director	NOUN
economy-1236	208	31	4.20	4.20	NUM
economy-1236	208	32	1.67	1.67	NUM
economy-1236	208	33	1	1	NUM
economy-1236	208	34	5	5	NUM
economy-1236	208	35	75	75	NUM
economy-1236	208	36	ceo	ceo	NOUN
economy-1236	208	37	duality	duality	NOUN
economy-1236	208	38	0.32	0.32	NUM
economy-1236	208	39	0.55	0.55	NUM
economy-1236	208	40	0	0	NUM
economy-1236	208	41	1	1	NUM
economy-1236	208	42	75	75	NUM
economy-1236	208	43	economy	economy	NOUN
economy-1236	208	44	,	,	PUNCT
economy-1236	208	45	2019	2019	NUM
economy-1236	208	46	,	,	PUNCT
economy-1236	208	47	6(2	6(2	NUM
economy-1236	208	48	):	):	PUNCT
economy-1236	208	49	82	82	NUM
economy-1236	208	50	-	-	SYM
economy-1236	208	51	91	91	NUM
economy-1236	208	52	87	87	NUM
economy-1236	208	53	©	©	PROPN
economy-1236	208	54	2019	2019	NUM
economy-1236	208	55	by	by	ADP
economy-1236	208	56	the	the	DET
economy-1236	208	57	authors	author	NOUN
economy-1236	208	58	;	;	PUNCT
economy-1236	208	59	licensee	licensee	PROPN
economy-1236	208	60	asian	asian	ADJ
economy-1236	208	61	online	online	PROPN
economy-1236	208	62	journal	journal	PROPN
economy-1236	208	63	publishing	publishing	NOUN
economy-1236	208	64	group	group	PROPN
economy-1236	208	65	3.2.4	3.2.4	NUM
economy-1236	208	66	.	.	PUNCT
economy-1236	209	1	control	control	NOUN
economy-1236	209	2	variable	variable	NOUN
economy-1236	209	3	3.2.4.1	3.2.4.1	NUM
economy-1236	209	4	.	.	PUNCT
economy-1236	209	5	ownership	ownership	NOUN
economy-1236	209	6	concentration	concentration	NOUN
economy-1236	209	7	in	in	ADP
economy-1236	209	8	our	our	PRON
economy-1236	209	9	study	study	NOUN
economy-1236	209	10	,	,	PUNCT
economy-1236	209	11	we	we	PRON
economy-1236	209	12	will	will	AUX
economy-1236	209	13	adopt	adopt	VERB
economy-1236	209	14	the	the	DET
economy-1236	209	15	measure	measure	NOUN
economy-1236	209	16	chosen	choose	VERB
economy-1236	209	17	shabou	shabou	NOUN
economy-1236	209	18	(	(	PUNCT
economy-1236	209	19	2000	2000	NUM
economy-1236	209	20	)	)	PUNCT
economy-1236	209	21	adapted	adapt	VERB
economy-1236	209	22	to	to	ADP
economy-1236	209	23	tunisian	tunisian	ADJ
economy-1236	209	24	context	context	NOUN
economy-1236	209	25	.	.	PUNCT
economy-1236	210	1	this	this	DET
economy-1236	210	2	variable	variable	NOUN
economy-1236	210	3	is	be	AUX
economy-1236	210	4	dichotomous	dichotomous	ADJ
economy-1236	210	5	;	;	PUNCT
economy-1236	210	6	it	it	PRON
economy-1236	210	7	is	be	AUX
economy-1236	210	8	set	set	VERB
economy-1236	210	9	to	to	ADP
economy-1236	210	10	1	1	NUM
economy-1236	210	11	(	(	PUNCT
economy-1236	210	12	value	value	NOUN
economy-1236	210	13	0	0	NUM
economy-1236	210	14	)	)	PUNCT
economy-1236	210	15	when	when	SCONJ
economy-1236	210	16	the	the	DET
economy-1236	210	17	percentage	percentage	NOUN
economy-1236	210	18	held	hold	VERB
economy-1236	210	19	by	by	ADP
economy-1236	210	20	the	the	DET
economy-1236	210	21	block	block	NOUN
economy-1236	210	22	holder	holder	NOUN
economy-1236	210	23	is	be	AUX
economy-1236	210	24	greater	great	ADJ
economy-1236	210	25	(	(	PUNCT
economy-1236	210	26	less	less	ADJ
economy-1236	210	27	)	)	PUNCT
economy-1236	210	28	than	than	ADP
economy-1236	210	29	50	50	NUM
economy-1236	210	30	%	%	NOUN
economy-1236	210	31	.	.	PUNCT
economy-1236	211	1	the	the	DET
economy-1236	211	2	companies	company	NOUN
economy-1236	211	3	where	where	SCONJ
economy-1236	211	4	the	the	DET
economy-1236	211	5	shareholders	shareholder	NOUN
economy-1236	211	6	hold	hold	VERB
economy-1236	211	7	at	at	ADV
economy-1236	211	8	least	least	ADV
economy-1236	211	9	50	50	NUM
economy-1236	211	10	%	%	NOUN
economy-1236	211	11	of	of	ADP
economy-1236	211	12	the	the	DET
economy-1236	211	13	capital	capital	NOUN
economy-1236	211	14	were	be	AUX
economy-1236	211	15	qualified	qualified	ADJ
economy-1236	211	16	as	as	ADP
economy-1236	211	17	heavily	heavily	ADV
economy-1236	211	18	concentrated	concentrate	VERB
economy-1236	211	19	.	.	PUNCT
economy-1236	212	1	3.2.4.2	3.2.4.2	X
economy-1236	212	2	.	.	NOUN
economy-1236	212	3	firm	firm	ADJ
economy-1236	212	4	age	age	NOUN
economy-1236	212	5	in	in	ADP
economy-1236	212	6	this	this	DET
economy-1236	212	7	study	study	NOUN
economy-1236	212	8	companies	company	NOUN
economy-1236	212	9	are	be	AUX
economy-1236	212	10	divided	divide	VERB
economy-1236	212	11	into	into	ADP
economy-1236	212	12	two	two	NUM
economy-1236	212	13	groups	group	NOUN
economy-1236	212	14	,	,	PUNCT
economy-1236	212	15	a	a	DET
economy-1236	212	16	business	business	NOUN
economy-1236	212	17	young	young	ADJ
economy-1236	212	18	and	and	CCONJ
economy-1236	212	19	a	a	DET
economy-1236	212	20	mature	mature	ADJ
economy-1236	212	21	company	company	NOUN
economy-1236	212	22	.	.	PUNCT
economy-1236	213	1	this	this	DET
economy-1236	213	2	variable	variable	NOUN
economy-1236	213	3	is	be	AUX
economy-1236	213	4	dichotomous	dichotomous	ADJ
economy-1236	213	5	where	where	SCONJ
economy-1236	213	6	a	a	DET
economy-1236	213	7	young	young	ADJ
economy-1236	213	8	firm	firm	NOUN
economy-1236	213	9	refers	refer	VERB
economy-1236	213	10	to	to	ADP
economy-1236	213	11	a	a	DET
economy-1236	213	12	company	company	NOUN
economy-1236	213	13	that	that	PRON
economy-1236	213	14	operates	operate	VERB
economy-1236	213	15	less	less	ADJ
economy-1236	213	16	than	than	ADP
economy-1236	213	17	five	five	NUM
economy-1236	213	18	years	year	NOUN
economy-1236	213	19	old	old	ADJ
economy-1236	213	20	takes	take	VERB
economy-1236	213	21	the	the	DET
economy-1236	213	22	value	value	NOUN
economy-1236	213	23	0	0	NUM
economy-1236	213	24	and	and	CCONJ
economy-1236	213	25	a	a	DET
economy-1236	213	26	mature	mature	ADJ
economy-1236	213	27	firm	firm	NOUN
economy-1236	213	28	is	be	AUX
economy-1236	213	29	greater	great	ADJ
economy-1236	213	30	than	than	ADP
economy-1236	213	31	five	five	NUM
economy-1236	213	32	years	year	NOUN
economy-1236	213	33	which	which	PRON
economy-1236	213	34	takes	take	VERB
economy-1236	213	35	the	the	DET
economy-1236	213	36	value	value	NOUN
economy-1236	213	37	1	1	NUM
economy-1236	213	38	.	.	PUNCT
economy-1236	214	1	3.2.4.3	3.2.4.3	X
economy-1236	214	2	.	.	PUNCT
economy-1236	214	3	firm	firm	ADJ
economy-1236	214	4	size	size	NOUN
economy-1236	214	5	as	as	SCONJ
economy-1236	214	6	noted	note	VERB
economy-1236	214	7	by	by	ADP
economy-1236	214	8	ball	ball	NOUN
economy-1236	214	9	and	and	CCONJ
economy-1236	214	10	foster	foster	ADJ
economy-1236	214	11	(	(	PUNCT
economy-1236	214	12	1982	1982	NUM
economy-1236	214	13	)	)	PUNCT
economy-1236	214	14	size	size	NOUN
economy-1236	214	15	was	be	AUX
economy-1236	214	16	used	use	VERB
economy-1236	214	17	to	to	PART
economy-1236	214	18	represent	represent	VERB
economy-1236	214	19	the	the	DET
economy-1236	214	20	competitive	competitive	ADJ
economy-1236	214	21	advantage	advantage	NOUN
economy-1236	214	22	of	of	ADP
economy-1236	214	23	a	a	DET
economy-1236	214	24	firm	firm	NOUN
economy-1236	214	25	and	and	CCONJ
economy-1236	214	26	the	the	DET
economy-1236	214	27	ability	ability	NOUN
economy-1236	214	28	of	of	ADP
economy-1236	214	29	the	the	DET
economy-1236	214	30	management	management	NOUN
economy-1236	214	31	team	team	NOUN
economy-1236	214	32	.	.	PUNCT
economy-1236	215	1	so	so	ADV
economy-1236	215	2	we	we	PRON
economy-1236	215	3	can	can	AUX
economy-1236	215	4	implicate	implicate	VERB
economy-1236	215	5	size	size	NOUN
economy-1236	215	6	as	as	ADP
economy-1236	215	7	a	a	DET
economy-1236	215	8	signal	signal	NOUN
economy-1236	215	9	about	about	ADP
economy-1236	215	10	the	the	DET
economy-1236	215	11	effectiveness	effectiveness	NOUN
economy-1236	215	12	of	of	ADP
economy-1236	215	13	governance	governance	NOUN
economy-1236	215	14	mechanisms	mechanism	NOUN
economy-1236	215	15	.	.	PUNCT
economy-1236	216	1	this	this	PRON
economy-1236	216	2	is	be	AUX
economy-1236	216	3	why	why	SCONJ
economy-1236	216	4	we	we	PRON
economy-1236	216	5	introduce	introduce	VERB
economy-1236	216	6	size	size	NOUN
economy-1236	216	7	as	as	ADP
economy-1236	216	8	a	a	DET
economy-1236	216	9	control	control	NOUN
economy-1236	216	10	variable	variable	NOUN
economy-1236	216	11	for	for	ADP
economy-1236	216	12	this	this	DET
economy-1236	216	13	research	research	NOUN
economy-1236	216	14	.	.	PUNCT
economy-1236	217	1	this	this	DET
economy-1236	217	2	variable	variable	NOUN
economy-1236	217	3	can	can	AUX
economy-1236	217	4	be	be	AUX
economy-1236	217	5	measured	measure	VERB
economy-1236	217	6	in	in	ADP
economy-1236	217	7	different	different	ADJ
economy-1236	217	8	ways	way	NOUN
economy-1236	217	9	.	.	PUNCT
economy-1236	218	1	the	the	DET
economy-1236	218	2	size	size	NOUN
economy-1236	218	3	of	of	ADP
economy-1236	218	4	the	the	DET
economy-1236	218	5	business	business	NOUN
economy-1236	218	6	can	can	AUX
economy-1236	218	7	be	be	AUX
economy-1236	218	8	measured	measure	VERB
economy-1236	218	9	in	in	ADP
economy-1236	218	10	several	several	ADJ
economy-1236	218	11	ways	way	NOUN
economy-1236	218	12	,	,	PUNCT
economy-1236	218	13	such	such	ADJ
economy-1236	218	14	as	as	ADP
economy-1236	218	15	total	total	ADJ
economy-1236	218	16	assets	asset	NOUN
economy-1236	218	17	,	,	PUNCT
economy-1236	218	18	capital	capital	NOUN
economy-1236	218	19	invested	invest	VERB
economy-1236	218	20	,	,	PUNCT
economy-1236	218	21	turnover	turnover	NOUN
economy-1236	218	22	,	,	PUNCT
economy-1236	218	23	number	number	NOUN
economy-1236	218	24	of	of	ADP
economy-1236	218	25	employees	employee	NOUN
economy-1236	218	26	,	,	PUNCT
economy-1236	218	27	market	market	NOUN
economy-1236	218	28	value	value	NOUN
economy-1236	218	29	of	of	ADP
economy-1236	218	30	business	business	NOUN
economy-1236	218	31	and	and	CCONJ
economy-1236	218	32	equity	equity	NOUN
economy-1236	218	33	.	.	PUNCT
economy-1236	219	1	we	we	PRON
economy-1236	219	2	will	will	AUX
economy-1236	219	3	retain	retain	VERB
economy-1236	219	4	the	the	DET
economy-1236	219	5	criterion	criterion	NOUN
economy-1236	219	6	of	of	ADP
economy-1236	219	7	capital	capital	NOUN
economy-1236	219	8	invested	invest	VERB
economy-1236	219	9	whose	whose	DET
economy-1236	219	10	tai	tai	NOUN
economy-1236	219	11	variable	variable	NOUN
economy-1236	219	12	is	be	AUX
economy-1236	219	13	an	an	DET
economy-1236	219	14	ordered	order	VERB
economy-1236	219	15	multinomial	multinomial	ADJ
economy-1236	219	16	variable	variable	NOUN
economy-1236	219	17	from	from	ADP
economy-1236	219	18	which	which	PRON
economy-1236	219	19	it	it	PRON
economy-1236	219	20	takes	take	VERB
economy-1236	219	21	1	1	NUM
economy-1236	219	22	if	if	SCONJ
economy-1236	219	23	the	the	DET
economy-1236	219	24	capital	capital	NOUN
economy-1236	219	25	invested	invest	VERB
economy-1236	219	26	is	be	AUX
economy-1236	219	27	less	less	ADJ
economy-1236	219	28	than	than	ADP
economy-1236	219	29	100	100	NUM
economy-1236	219	30	million	million	NUM
economy-1236	219	31	dinars	dinar	NOUN
economy-1236	219	32	(	(	PUNCT
economy-1236	219	33	md	md	PROPN
economy-1236	219	34	)	)	PUNCT
economy-1236	219	35	,	,	PUNCT
economy-1236	219	36	2	2	NUM
economy-1236	219	37	if	if	SCONJ
economy-1236	219	38	the	the	DET
economy-1236	219	39	capital	capital	NOUN
economy-1236	219	40	invested	invest	VERB
economy-1236	219	41	is	be	AUX
economy-1236	219	42	between	between	ADP
economy-1236	219	43	100	100	NUM
economy-1236	219	44	million	million	NUM
economy-1236	219	45	dinars	dinar	NOUN
economy-1236	219	46	and	and	CCONJ
economy-1236	219	47	500	500	NUM
economy-1236	219	48	million	million	NUM
economy-1236	219	49	dinars	dinar	NOUN
economy-1236	219	50	and	and	CCONJ
economy-1236	219	51	3	3	NUM
economy-1236	219	52	if	if	SCONJ
economy-1236	219	53	the	the	DET
economy-1236	219	54	capital	capital	NOUN
economy-1236	219	55	invested	invest	VERB
economy-1236	219	56	is	be	AUX
economy-1236	219	57	more	more	ADJ
economy-1236	219	58	than	than	ADP
economy-1236	219	59	500	500	NUM
economy-1236	219	60	million	million	NUM
economy-1236	219	61	dinars	dinar	NOUN
economy-1236	219	62	.	.	PUNCT
economy-1236	220	1	3.2.4.4	3.2.4.4	NUM
economy-1236	220	2	.	.	PUNCT
economy-1236	221	1	ceo	ceo	NOUN
economy-1236	221	2	seniority	seniority	NOUN
economy-1236	221	3	seniority	seniority	NOUN
economy-1236	221	4	reflects	reflect	VERB
economy-1236	221	5	the	the	DET
economy-1236	221	6	executive	executive	NOUN
economy-1236	221	7	's	's	PART
economy-1236	221	8	experience	experience	NOUN
economy-1236	221	9	expressed	express	VERB
economy-1236	221	10	in	in	ADP
economy-1236	221	11	years	year	NOUN
economy-1236	221	12	spent	spend	VERB
economy-1236	221	13	in	in	ADP
economy-1236	221	14	the	the	DET
economy-1236	221	15	company	company	NOUN
economy-1236	221	16	.	.	PUNCT
economy-1236	222	1	this	this	DET
economy-1236	222	2	variable	variable	NOUN
economy-1236	222	3	may	may	AUX
economy-1236	222	4	reflect	reflect	VERB
economy-1236	222	5	the	the	DET
economy-1236	222	6	leader	leader	NOUN
economy-1236	222	7	's	's	PART
economy-1236	222	8	experience	experience	NOUN
economy-1236	222	9	,	,	PUNCT
economy-1236	222	10	skills	skill	NOUN
economy-1236	222	11	and	and	CCONJ
economy-1236	222	12	relationship	relationship	NOUN
economy-1236	222	13	network	network	NOUN
economy-1236	222	14	.	.	PUNCT
economy-1236	223	1	the	the	DET
economy-1236	223	2	leader	leader	NOUN
economy-1236	223	3	's	's	PART
economy-1236	223	4	past	past	NOUN
economy-1236	223	5	can	can	AUX
economy-1236	223	6	have	have	VERB
economy-1236	223	7	a	a	DET
economy-1236	223	8	positive	positive	ADJ
economy-1236	223	9	or	or	CCONJ
economy-1236	223	10	negative	negative	ADJ
economy-1236	223	11	effect	effect	NOUN
economy-1236	223	12	on	on	ADP
economy-1236	223	13	the	the	DET
economy-1236	223	14	degree	degree	NOUN
economy-1236	223	15	of	of	ADP
economy-1236	223	16	his	his	PRON
economy-1236	223	17	optimism	optimism	NOUN
economy-1236	223	18	.	.	PUNCT
economy-1236	224	1	this	this	DET
economy-1236	224	2	variable	variable	NOUN
economy-1236	224	3	is	be	AUX
economy-1236	224	4	dichotomous	dichotomous	ADJ
economy-1236	224	5	(	(	PUNCT
economy-1236	224	6	pigé	pigé	NOUN
economy-1236	224	7	,	,	PUNCT
economy-1236	224	8	1998	1998	NUM
economy-1236	224	9	)	)	PUNCT
economy-1236	225	1	it	it	PRON
economy-1236	225	2	takes	take	VERB
economy-1236	225	3	the	the	DET
economy-1236	225	4	value	value	NOUN
economy-1236	225	5	0	0	NUM
economy-1236	225	6	for	for	ADP
economy-1236	225	7	a	a	DET
economy-1236	225	8	new	new	ADJ
economy-1236	225	9	officer	officer	NOUN
economy-1236	225	10	with	with	ADP
economy-1236	225	11	a	a	DET
economy-1236	225	12	seniority	seniority	NOUN
economy-1236	225	13	of	of	ADP
economy-1236	225	14	less	less	ADJ
economy-1236	225	15	than	than	ADP
economy-1236	225	16	5	5	NUM
economy-1236	225	17	years	year	NOUN
economy-1236	225	18	,	,	PUNCT
economy-1236	225	19	and	and	CCONJ
economy-1236	225	20	the	the	DET
economy-1236	225	21	value	value	NOUN
economy-1236	225	22	1	1	NUM
economy-1236	225	23	for	for	ADP
economy-1236	225	24	a	a	DET
economy-1236	225	25	ceo	ceo	NOUN
economy-1236	225	26	with	with	ADP
economy-1236	225	27	seniority	seniority	NOUN
economy-1236	225	28	of	of	ADP
economy-1236	225	29	more	more	ADJ
economy-1236	225	30	than	than	ADP
economy-1236	225	31	5	5	NUM
economy-1236	225	32	years	year	NOUN
economy-1236	225	33	.	.	PUNCT
economy-1236	226	1	table-4.variables	table-4.variable	NOUN
economy-1236	226	2	descriptions	description	NOUN
economy-1236	226	3	.	.	PUNCT
economy-1236	227	1	class	class	NOUN
economy-1236	227	2	:	:	PUNCT
economy-1236	227	3	phenomena	phenomena	PROPN
economy-1236	227	4	:	:	PUNCT
economy-1236	227	5	mesure	mesure	NOUN
economy-1236	227	6	:	:	PUNCT
economy-1236	227	7	variables	variable	NOUN
economy-1236	227	8	:	:	PUNCT
economy-1236	227	9	predictions	prediction	NOUN
economy-1236	227	10	:	:	PUNCT
economy-1236	227	11	endogens	endogen	NOUN
economy-1236	227	12	variables	variable	NOUN
economy-1236	227	13	:	:	PUNCT
economy-1236	227	14	debt	debt	NOUN
economy-1236	227	15	level	level	NOUN
economy-1236	227	16	debt	debt	NOUN
economy-1236	227	17	choice	choice	NOUN
economy-1236	227	18	leverage	leverage	NOUN
economy-1236	227	19	ratios	ratio	NOUN
economy-1236	227	20	(	(	PUNCT
economy-1236	227	21	lev)=	lev)=	X
economy-1236	227	22	(	(	PUNCT
economy-1236	227	23	total	total	ADJ
economy-1236	227	24	debt/	debt/	PROPN
economy-1236	227	25	totalassets)leverage	totalassets)leverage	NOUN
economy-1236	227	26	ratios	ratio	VERB
economy-1236	227	27	variation	variation	NOUN
economy-1236	227	28	=	=	SYM
economy-1236	227	29	levn	levn	NOUN
economy-1236	227	30	-	-	PUNCT
economy-1236	227	31	levn-1	levn-1	NOUN
economy-1236	227	32	/	/	SYM
economy-1236	227	33	levn-1	levn-1	NUM
economy-1236	227	34	lev	lev	ADJ
economy-1236	227	35	exogenous	exogenous	ADJ
economy-1236	227	36	variables	variable	NOUN
economy-1236	227	37	:	:	PUNCT
economy-1236	227	38	lev	lev	NOUN
economy-1236	227	39	optimism	optimism	NOUN
economy-1236	227	40	directors	director	NOUN
economy-1236	227	41	overestimate	overestimate	VERB
economy-1236	227	42	capacity	capacity	NOUN
economy-1236	227	43	of	of	ADP
economy-1236	227	44	their	their	PRON
economy-1236	227	45	firms	firm	NOUN
economy-1236	227	46	the	the	DET
economy-1236	227	47	questionnaire	questionnaire	NOUN
economy-1236	227	48	obtained	obtain	VERB
economy-1236	227	49	score	score	NOUN
economy-1236	227	50	op	op	NOUN
economy-1236	227	51	+	+	CCONJ
economy-1236	227	52	board	board	NOUN
economy-1236	227	53	of	of	ADP
economy-1236	227	54	directors	director	NOUN
economy-1236	227	55	board	board	VERB
economy-1236	227	56	implication	implication	NOUN
economy-1236	227	57	in	in	ADP
economy-1236	227	58	the	the	DET
economy-1236	227	59	decision	decision	NOUN
economy-1236	227	60	number	number	NOUN
economy-1236	227	61	of	of	ADP
economy-1236	227	62	its	its	PRON
economy-1236	227	63	members	member	NOUN
economy-1236	227	64	bsize	bsize	VERB
economy-1236	227	65	+	+	CCONJ
economy-1236	227	66	the	the	DET
economy-1236	227	67	presence	presence	NOUN
economy-1236	227	68	of	of	ADP
economy-1236	227	69	independent	independent	ADJ
economy-1236	227	70	members	member	NOUN
economy-1236	227	71	in	in	ADP
economy-1236	227	72	the	the	DET
economy-1236	227	73	board	board	NOUN
economy-1236	227	74	number	number	NOUN
economy-1236	227	75	of	of	ADP
economy-1236	227	76	outside	outside	ADJ
economy-1236	227	77	directors	director	NOUN
economy-1236	227	78	/total	/total	PROPN
economy-1236	227	79	board	board	PROPN
economy-1236	227	80	members	member	NOUN
economy-1236	227	81	.	.	PUNCT
economy-1236	228	1	bind	bind	VERB
economy-1236	228	2	ceo	ceo	PROPN
economy-1236	228	3	also	also	ADV
economy-1236	228	4	owns	own	VERB
economy-1236	228	5	the	the	DET
economy-1236	228	6	board	board	NOUN
economy-1236	228	7	’s	’s	PART
economy-1236	228	8	chair	chair	NOUN
economy-1236	228	9	1	1	NUM
economy-1236	228	10	if	if	SCONJ
economy-1236	228	11	the	the	DET
economy-1236	228	12	ceo	ceo	NOUN
economy-1236	228	13	also	also	ADV
economy-1236	228	14	owns	own	VERB
economy-1236	228	15	the	the	DET
economy-1236	228	16	board	board	NOUN
economy-1236	228	17	’s	’s	PART
economy-1236	228	18	chair	chair	NOUN
economy-1236	228	19	and	and	CCONJ
economy-1236	228	20	0	0	NUM
economy-1236	228	21	otherwise	otherwise	ADV
economy-1236	229	1	dual	dual	ADJ
economy-1236	229	2	+	+	NUM
economy-1236	229	3	controls	control	NOUN
economy-1236	229	4	variables	variable	NOUN
economy-1236	229	5	:	:	PUNCT
economy-1236	229	6	ownership	ownership	NOUN
economy-1236	229	7	concentration	concentration	NOUN
economy-1236	229	8	shareholder	shareholder	NOUN
economy-1236	229	9	involvement	involvement	NOUN
economy-1236	229	10	1	1	NUM
economy-1236	229	11	when	when	SCONJ
economy-1236	229	12	the	the	DET
economy-1236	229	13	percentage	percentage	NOUN
economy-1236	229	14	held	hold	VERB
economy-1236	229	15	by	by	ADP
economy-1236	229	16	the	the	DET
economy-1236	229	17	block	block	NOUN
economy-1236	229	18	holder	holder	NOUN
economy-1236	229	19	is	be	AUX
economy-1236	229	20	greater	great	ADJ
economy-1236	229	21	than	than	ADP
economy-1236	229	22	50	50	NUM
economy-1236	229	23	%	%	NOUN
economy-1236	229	24	and	and	CCONJ
economy-1236	229	25	0	0	NUM
economy-1236	229	26	otherwise	otherwise	ADV
economy-1236	229	27	.	.	PUNCT
economy-1236	230	1	oc	oc	X
economy-1236	231	1	+	+	CCONJ
economy-1236	231	2	firm	firm	ADJ
economy-1236	231	3	age	age	NOUN
economy-1236	231	4	firms	firm	NOUN
economy-1236	231	5	signaled	signal	VERB
economy-1236	231	6	reputation	reputation	NOUN
economy-1236	231	7	1	1	NUM
economy-1236	231	8	if	if	SCONJ
economy-1236	231	9	firm	firm	ADJ
economy-1236	231	10	is	be	AUX
economy-1236	231	11	greater	great	ADJ
economy-1236	231	12	than	than	ADP
economy-1236	231	13	five	five	NUM
economy-1236	231	14	years	year	NOUN
economy-1236	231	15	old	old	ADJ
economy-1236	231	16	and	and	CCONJ
economy-1236	231	17	0	0	NUM
economy-1236	231	18	otherwise	otherwise	ADV
economy-1236	231	19	.	.	PUNCT
economy-1236	232	1	fiage	fiage	NOUN
economy-1236	232	2	+	+	CCONJ
economy-1236	232	3	firm	firm	ADJ
economy-1236	232	4	size	size	NOUN
economy-1236	232	5	firms	firm	NOUN
economy-1236	232	6	signaled	signal	VERB
economy-1236	232	7	performance	performance	NOUN
economy-1236	232	8	1	1	NUM
economy-1236	232	9	if	if	SCONJ
economy-1236	232	10	the	the	DET
economy-1236	232	11	capital	capital	NOUN
economy-1236	232	12	invested	invest	VERB
economy-1236	232	13	is	be	AUX
economy-1236	232	14	less	less	ADJ
economy-1236	232	15	than	than	ADP
economy-1236	232	16	100	100	NUM
economy-1236	232	17	million	million	NUM
economy-1236	232	18	dinars	dinar	NOUN
economy-1236	232	19	(	(	PUNCT
economy-1236	232	20	md	md	PROPN
economy-1236	232	21	)	)	PUNCT
economy-1236	232	22	,	,	PUNCT
economy-1236	232	23	2	2	NUM
economy-1236	232	24	if	if	SCONJ
economy-1236	232	25	the	the	DET
economy-1236	232	26	capital	capital	NOUN
economy-1236	232	27	invested	invest	VERB
economy-1236	232	28	is	be	AUX
economy-1236	232	29	between	between	ADP
economy-1236	232	30	100	100	NUM
economy-1236	232	31	million	million	NUM
economy-1236	232	32	dinars	dinar	NOUN
economy-1236	232	33	and	and	CCONJ
economy-1236	232	34	500	500	NUM
economy-1236	232	35	million	million	NUM
economy-1236	232	36	dinars	dinar	NOUN
economy-1236	232	37	and	and	CCONJ
economy-1236	232	38	3	3	NUM
economy-1236	232	39	if	if	SCONJ
economy-1236	232	40	the	the	DET
economy-1236	232	41	capital	capital	NOUN
economy-1236	232	42	invested	invest	VERB
economy-1236	232	43	is	be	AUX
economy-1236	232	44	more	more	ADJ
economy-1236	232	45	than	than	ADP
economy-1236	232	46	500	500	NUM
economy-1236	232	47	million	million	NUM
economy-1236	232	48	dinars	dinar	NOUN
economy-1236	232	49	.	.	PUNCT
economy-1236	233	1	fisize	fisize	VERB
economy-1236	233	2	+	+	CCONJ
economy-1236	233	3	ceo	ceo	NOUN
economy-1236	233	4	seniority	seniority	NOUN
economy-1236	233	5	ceo	ceo	NOUN
economy-1236	233	6	signaled	signal	VERB
economy-1236	233	7	experience	experience	NOUN
economy-1236	233	8	1	1	NUM
economy-1236	233	9	if	if	SCONJ
economy-1236	233	10	the	the	DET
economy-1236	233	11	ceo	ceo	NOUN
economy-1236	233	12	is	be	AUX
economy-1236	233	13	at	at	ADP
economy-1236	233	14	the	the	DET
economy-1236	233	15	company	company	NOUN
economy-1236	233	16	more	more	ADJ
economy-1236	233	17	than	than	ADP
economy-1236	233	18	5	5	NUM
economy-1236	233	19	years	year	NOUN
economy-1236	233	20	and	and	CCONJ
economy-1236	233	21	0	0	NUM
economy-1236	233	22	otherwise	otherwise	ADV
economy-1236	233	23	.	.	PUNCT
economy-1236	234	1	seni	seni	PROPN
economy-1236	234	2	+	+	SYM
economy-1236	234	3	ceo	ceo	NOUN
economy-1236	234	4	financial	financial	ADJ
economy-1236	234	5	education	education	NOUN
economy-1236	234	6	assessment	assessment	NOUN
economy-1236	234	7	of	of	ADP
economy-1236	234	8	financial	financial	ADJ
economy-1236	234	9	decisions	decision	NOUN
economy-1236	234	10	1	1	NUM
economy-1236	234	11	if	if	SCONJ
economy-1236	234	12	the	the	DET
economy-1236	234	13	ceo	ceo	NOUN
economy-1236	234	14	to	to	ADP
economy-1236	234	15	a	a	DET
economy-1236	234	16	financial	financial	ADJ
economy-1236	234	17	education	education	NOUN
economy-1236	234	18	and	and	CCONJ
economy-1236	234	19	0	0	NUM
economy-1236	234	20	otherwise	otherwise	ADV
economy-1236	234	21	.	.	PUNCT
economy-1236	235	1	fiedu	fiedu	NOUN
economy-1236	235	2	economy	economy	NOUN
economy-1236	235	3	,	,	PUNCT
economy-1236	235	4	2019	2019	NUM
economy-1236	235	5	,	,	PUNCT
economy-1236	235	6	6(2	6(2	NUM
economy-1236	235	7	):	):	PUNCT
economy-1236	235	8	82	82	NUM
economy-1236	235	9	-	-	SYM
economy-1236	235	10	91	91	NUM
economy-1236	235	11	88	88	NUM
economy-1236	236	1	©	©	PROPN
economy-1236	236	2	2019	2019	NUM
economy-1236	236	3	by	by	ADP
economy-1236	236	4	the	the	DET
economy-1236	236	5	authors	author	NOUN
economy-1236	236	6	;	;	PUNCT
economy-1236	236	7	licensee	licensee	PROPN
economy-1236	236	8	asian	asian	ADJ
economy-1236	236	9	online	online	PROPN
economy-1236	236	10	journal	journal	PROPN
economy-1236	236	11	publishing	publishing	PROPN
economy-1236	236	12	group	group	PROPN
economy-1236	236	13	3.2.4.5	3.2.4.5	PROPN
economy-1236	236	14	.	.	PROPN
economy-1236	236	15	ceo	ceo	PROPN
economy-1236	236	16	financial	financial	ADJ
economy-1236	236	17	education	education	NOUN
economy-1236	236	18	this	this	DET
economy-1236	236	19	variable	variable	NOUN
economy-1236	236	20	is	be	AUX
economy-1236	236	21	dichotomous	dichotomous	ADJ
economy-1236	236	22	where	where	SCONJ
economy-1236	236	23	a	a	DET
economy-1236	236	24	leader	leader	NOUN
economy-1236	236	25	who	who	PRON
economy-1236	236	26	has	have	VERB
economy-1236	236	27	a	a	DET
economy-1236	236	28	financial	financial	ADJ
economy-1236	236	29	education	education	NOUN
economy-1236	236	30	takes	take	VERB
economy-1236	236	31	the	the	DET
economy-1236	236	32	value	value	NOUN
economy-1236	236	33	1	1	NUM
economy-1236	236	34	and	and	CCONJ
economy-1236	236	35	a	a	DET
economy-1236	236	36	manager	manager	NOUN
economy-1236	236	37	who	who	PRON
economy-1236	236	38	has	have	AUX
economy-1236	236	39	gone	go	VERB
economy-1236	236	40	through	through	ADP
economy-1236	236	41	an	an	DET
economy-1236	236	42	education	education	NOUN
economy-1236	236	43	other	other	ADJ
economy-1236	236	44	than	than	ADP
economy-1236	236	45	financial	financial	ADJ
economy-1236	236	46	takes	take	VERB
economy-1236	236	47	the	the	DET
economy-1236	236	48	value	value	NOUN
economy-1236	236	49	0	0	NUM
economy-1236	236	50	.	.	PUNCT
economy-1236	237	1	for	for	ADP
economy-1236	237	2	the	the	DET
economy-1236	237	3	purpose	purpose	NOUN
economy-1236	237	4	of	of	ADP
economy-1236	237	5	simplification	simplification	NOUN
economy-1236	237	6	,	,	PUNCT
economy-1236	237	7	we	we	PRON
economy-1236	237	8	summarize	summarize	VERB
economy-1236	237	9	the	the	DET
economy-1236	237	10	measurement	measurement	NOUN
economy-1236	237	11	of	of	ADP
economy-1236	237	12	each	each	PRON
economy-1236	237	13	of	of	ADP
economy-1236	237	14	the	the	DET
economy-1236	237	15	model	model	NOUN
economy-1236	237	16	's	's	PART
economy-1236	237	17	variables	variable	NOUN
economy-1236	237	18	,	,	PUNCT
economy-1236	237	19	its	its	PRON
economy-1236	237	20	name	name	NOUN
economy-1236	237	21	and	and	CCONJ
economy-1236	237	22	its	its	PRON
economy-1236	237	23	expected	expect	VERB
economy-1236	237	24	influence	influence	NOUN
economy-1236	237	25	on	on	ADP
economy-1236	237	26	the	the	DET
economy-1236	237	27	debt	debt	NOUN
economy-1236	237	28	decision	decision	NOUN
economy-1236	237	29	in	in	ADP
economy-1236	237	30	the	the	DET
economy-1236	237	31	table	table	NOUN
economy-1236	237	32	4	4	NUM
economy-1236	237	33	.	.	NOUN
economy-1236	237	34	4	4	NUM
economy-1236	237	35	.	.	X
economy-1236	237	36	empirical	empirical	ADJ
economy-1236	237	37	results	result	NOUN
economy-1236	237	38	we	we	PRON
economy-1236	237	39	will	will	AUX
economy-1236	237	40	check	check	VERB
economy-1236	237	41	the	the	DET
economy-1236	237	42	relationship	relationship	NOUN
economy-1236	237	43	between	between	ADP
economy-1236	237	44	managerial	managerial	ADJ
economy-1236	237	45	optimism	optimism	NOUN
economy-1236	237	46	,	,	PUNCT
economy-1236	237	47	the	the	DET
economy-1236	237	48	board	board	NOUN
economy-1236	237	49	of	of	ADP
economy-1236	237	50	directors	director	NOUN
economy-1236	237	51	and	and	CCONJ
economy-1236	237	52	the	the	DET
economy-1236	237	53	debt	debt	NOUN
economy-1236	237	54	decision	decision	NOUN
economy-1236	237	55	using	use	VERB
economy-1236	237	56	our	our	PRON
economy-1236	237	57	model	model	NOUN
economy-1236	237	58	.	.	PUNCT
economy-1236	238	1	in	in	ADP
economy-1236	238	2	this	this	DET
economy-1236	238	3	costume	costume	NOUN
economy-1236	238	4	,	,	PUNCT
economy-1236	238	5	we	we	PRON
economy-1236	238	6	describe	describe	VERB
economy-1236	238	7	in	in	ADP
economy-1236	238	8	detail	detail	NOUN
economy-1236	238	9	the	the	DET
economy-1236	238	10	different	different	ADJ
economy-1236	238	11	tests	test	NOUN
economy-1236	238	12	that	that	PRON
economy-1236	238	13	are	be	AUX
economy-1236	238	14	performed	perform	VERB
economy-1236	238	15	.	.	PUNCT
economy-1236	239	1	4.1	4.1	NUM
economy-1236	239	2	.	.	PUNCT
economy-1236	239	3	empirical	empirical	ADJ
economy-1236	239	4	model	model	NOUN
economy-1236	239	5	y=	y=	PRON
economy-1236	239	6	α	α	PROPN
economy-1236	239	7	+	+	CCONJ
economy-1236	239	8	α1	α1	NOUN
economy-1236	239	9	op	op	NOUN
economy-1236	239	10	+	+	CCONJ
economy-1236	239	11	α2	α2	ADJ
economy-1236	239	12	bsize	bsize	NOUN
economy-1236	239	13	+	+	CCONJ
economy-1236	239	14	α3	α3	ADJ
economy-1236	239	15	bind	bind	NOUN
economy-1236	239	16	+	+	CCONJ
economy-1236	239	17	α4	α4	NOUN
economy-1236	239	18	dual	dual	ADJ
economy-1236	239	19	+	+	CCONJ
economy-1236	239	20	α5	α5	ADJ
economy-1236	239	21	oc	oc	ADP
economy-1236	239	22	+	+	CCONJ
economy-1236	239	23	α6	α6	NOUN
economy-1236	239	24	fiage	fiage	NOUN
economy-1236	239	25	+	+	CCONJ
economy-1236	239	26	α7	α7	NOUN
economy-1236	239	27	fsize+α8	fsize+α8	ADP
economy-1236	239	28	seni+α9	seni+α9	NOUN
economy-1236	239	29	fiedu	fiedu	VERB
economy-1236	239	30	+	+	PROPN
economy-1236	239	31	ξ	ξ	X
economy-1236	239	32	.	.	PUNCT
economy-1236	240	1	where	where	SCONJ
economy-1236	240	2	:	:	PUNCT
economy-1236	240	3			PROPN
economy-1236	241	1	y	y	PROPN
economy-1236	241	2	:	:	PUNCT
economy-1236	241	3	the	the	DET
economy-1236	241	4	firm	firm	ADJ
economy-1236	241	5	debt	debt	NOUN
economy-1236	241	6	choice	choice	NOUN
economy-1236	241	7	(	(	PUNCT
economy-1236	241	8	lev	lev	NOUN
economy-1236	241	9	)	)	PUNCT
economy-1236	241	10	.	.	PUNCT
economy-1236	242	1			NOUN
economy-1236	243	1	op	op	NOUN
economy-1236	243	2	:	:	PUNCT
economy-1236	243	3	the	the	DET
economy-1236	243	4	score	score	NOUN
economy-1236	243	5	of	of	ADP
economy-1236	243	6	optimism	optimism	NOUN
economy-1236	243	7	.	.	PUNCT
economy-1236	244	1			PROPN
economy-1236	244	2	bsize	bsize	PROPN
economy-1236	244	3	:	:	PUNCT
economy-1236	244	4	the	the	DET
economy-1236	244	5	board	board	NOUN
economy-1236	244	6	of	of	ADP
economy-1236	244	7	director	director	NOUN
economy-1236	244	8	’s	’s	PART
economy-1236	244	9	size	size	NOUN
economy-1236	244	10	.	.	PUNCT
economy-1236	245	1			PROPN
economy-1236	245	2	bsize	bsize	PROPN
economy-1236	245	3	:	:	PUNCT
economy-1236	245	4	the	the	DET
economy-1236	245	5	board	board	NOUN
economy-1236	245	6	of	of	ADP
economy-1236	245	7	director	director	NOUN
economy-1236	245	8	’s	’s	PART
economy-1236	245	9	independence	independence	NOUN
economy-1236	245	10	.	.	PUNCT
economy-1236	246	1			X
economy-1236	247	1	dual	dual	ADJ
economy-1236	247	2	:	:	PUNCT
economy-1236	247	3	ceo	ceo	NOUN
economy-1236	247	4	duality	duality	NOUN
economy-1236	247	5	.	.	PUNCT
economy-1236	248	1			PUNCT
economy-1236	249	1	oc	oc	ADP
economy-1236	249	2	:	:	PUNCT
economy-1236	249	3	the	the	DET
economy-1236	249	4	ownership	ownership	NOUN
economy-1236	249	5	concentration	concentration	NOUN
economy-1236	249	6	.	.	PUNCT
economy-1236	250	1			NOUN
economy-1236	250	2	fiage	fiage	NOUN
economy-1236	250	3	:	:	PUNCT
economy-1236	250	4	the	the	DET
economy-1236	250	5	firm	firm	ADJ
economy-1236	250	6	age	age	NOUN
economy-1236	250	7	.	.	PUNCT
economy-1236	251	1			PRON
economy-1236	251	2	fisize	fisize	PROPN
economy-1236	251	3	:	:	PUNCT
economy-1236	251	4	the	the	DET
economy-1236	251	5	firm	firm	ADJ
economy-1236	251	6	size	size	NOUN
economy-1236	251	7	.	.	PUNCT
economy-1236	252	1			PROPN
economy-1236	252	2	seni	seni	PROPN
economy-1236	252	3	:	:	PUNCT
economy-1236	252	4	ceo	ceo	NOUN
economy-1236	252	5	seniority	seniority	NOUN
economy-1236	252	6	.	.	PUNCT
economy-1236	253	1			X
economy-1236	253	2	fiedu	fiedu	PROPN
economy-1236	253	3	:	:	PUNCT
economy-1236	253	4	ceo	ceo	NOUN
economy-1236	253	5	financial	financial	ADJ
economy-1236	253	6	education	education	NOUN
economy-1236	253	7	.	.	PUNCT
economy-1236	254	1	4.2	4.2	NUM
economy-1236	254	2	.	.	PUNCT
economy-1236	255	1	empirical	empirical	ADJ
economy-1236	255	2	tests	test	NOUN
economy-1236	255	3	we	we	PRON
economy-1236	255	4	opted	opt	VERB
economy-1236	255	5	for	for	ADP
economy-1236	255	6	the	the	DET
economy-1236	255	7	binary	binary	PROPN
economy-1236	255	8	logistic	logistic	ADJ
economy-1236	255	9	regression	regression	NOUN
economy-1236	255	10	on	on	ADP
economy-1236	255	11	the	the	DET
economy-1236	255	12	various	various	ADJ
economy-1236	255	13	variables	variable	NOUN
economy-1236	255	14	:	:	PUNCT
economy-1236	255	15	this	this	PRON
economy-1236	255	16	is	be	AUX
economy-1236	255	17	to	to	PART
economy-1236	255	18	explain	explain	VERB
economy-1236	255	19	the	the	DET
economy-1236	255	20	effect	effect	NOUN
economy-1236	255	21	of	of	ADP
economy-1236	255	22	managerial	managerial	ADJ
economy-1236	255	23	optimism	optimism	NOUN
economy-1236	255	24	level	level	NOUN
economy-1236	255	25	on	on	ADP
economy-1236	255	26	the	the	DET
economy-1236	255	27	involvement	involvement	NOUN
economy-1236	255	28	of	of	ADP
economy-1236	255	29	the	the	DET
economy-1236	255	30	board	board	NOUN
economy-1236	255	31	of	of	ADP
economy-1236	255	32	directors	director	NOUN
economy-1236	255	33	in	in	ADP
economy-1236	255	34	the	the	DET
economy-1236	255	35	control	control	NOUN
economy-1236	255	36	of	of	ADP
economy-1236	255	37	debt	debt	NOUN
economy-1236	255	38	choice	choice	NOUN
economy-1236	255	39	by	by	ADP
economy-1236	255	40	appealing	appeal	VERB
economy-1236	255	41	to	to	ADP
economy-1236	255	42	the	the	DET
economy-1236	255	43	different	different	ADJ
economy-1236	255	44	variables	variable	NOUN
economy-1236	255	45	selected	select	VERB
economy-1236	255	46	.	.	PUNCT
economy-1236	256	1	4.3	4.3	NUM
economy-1236	256	2	.	.	PUNCT
economy-1236	256	3	results	result	VERB
economy-1236	256	4	table-5	table-5	PROPN
economy-1236	256	5	.	.	PUNCT
economy-1236	257	1	debt	debt	NOUN
economy-1236	257	2	choice	choice	NOUN
economy-1236	257	3	results	result	NOUN
economy-1236	257	4	.	.	PUNCT
economy-1236	258	1	variables	variable	NOUN
economy-1236	258	2	bêta	bêta	ADJ
economy-1236	258	3	significance	significance	NOUN
economy-1236	258	4	expected	expect	VERB
economy-1236	258	5	relationship	relationship	NOUN
economy-1236	258	6	reached	reach	VERB
economy-1236	258	7	relationship	relationship	NOUN
economy-1236	258	8	constant	constant	ADJ
economy-1236	258	9	10.378	10.378	NUM
economy-1236	258	10	0.013278	0.013278	NUM
economy-1236	258	11	optimism	optimism	NOUN
economy-1236	258	12	future	future	ADJ
economy-1236	258	13	returns	return	NOUN
economy-1236	258	14	estimate	estimate	VERB
economy-1236	258	15	1,233	1,233	NUM
economy-1236	258	16	0,022	0,022	NUM
economy-1236	258	17	*	*	PUNCT
economy-1236	258	18	*	*	PUNCT
economy-1236	259	1	+	+	PUNCT
economy-1236	259	2	growth	growth	NOUN
economy-1236	259	3	opportunities	opportunity	NOUN
economy-1236	259	4	estimate	estimate	VERB
economy-1236	259	5	1,588	1,588	NUM
economy-1236	259	6	0,006	0,006	NUM
economy-1236	259	7	*	*	PUNCT
economy-1236	259	8	*	*	PUNCT
economy-1236	259	9	*	*	PUNCT
economy-1236	260	1	+	+	PUNCT
economy-1236	260	2	+	+	CCONJ
economy-1236	260	3	ability	ability	NOUN
economy-1236	260	4	to	to	PART
economy-1236	260	5	solve	solve	VERB
economy-1236	260	6	problems	problem	NOUN
economy-1236	260	7	1,276	1,276	NUM
economy-1236	260	8	0,020	0,020	NUM
economy-1236	260	9	*	*	PUNCT
economy-1236	260	10	*	*	PUNCT
economy-1236	261	1	+	+	PUNCT
economy-1236	261	2	+	+	CCONJ
economy-1236	261	3	personal	personal	ADJ
economy-1236	261	4	situation	situation	NOUN
economy-1236	261	5	overestimation	overestimation	NOUN
economy-1236	261	6	0,294	0,294	NUM
economy-1236	261	7	0,512	0,512	NUM
economy-1236	262	1	+	+	CCONJ
economy-1236	262	2	+	+	NUM
economy-1236	262	3	board	board	NOUN
economy-1236	262	4	of	of	ADP
economy-1236	262	5	directors	director	NOUN
economy-1236	262	6	bsize	bsize	VERB
economy-1236	262	7	-5,099	-5,099	VERB
economy-1236	262	8	0,008	0,008	NUM
economy-1236	262	9	*	*	PUNCT
economy-1236	262	10	*	*	PUNCT
economy-1236	262	11	*	*	PUNCT
economy-1236	262	12	+	+	PRON
economy-1236	262	13	bind	bind	VERB
economy-1236	262	14	5,867	5,867	NUM
economy-1236	262	15	0,003	0,003	NUM
economy-1236	263	1	*	*	PUNCT
economy-1236	264	1	*	*	PUNCT
economy-1236	264	2	*	*	PUNCT
economy-1236	265	1	+	+	PUNCT
economy-1236	265	2	+	+	CCONJ
economy-1236	265	3	dual	dual	ADJ
economy-1236	265	4	-0,227	-0,227	ADJ
economy-1236	265	5	0,825	0,825	NUM
economy-1236	265	6	+	+	CCONJ
economy-1236	265	7	fisize	fisize	VERB
economy-1236	265	8	-0,246	-0,246	PROPN
economy-1236	265	9	0,764	0,764	NOUN
economy-1236	266	1	+	+	CCONJ
economy-1236	266	2	fiage	fiage	NOUN
economy-1236	266	3	-23,619	-23,619	PUNCT
economy-1236	266	4	0,999	0,999	NUM
economy-1236	267	1	+	+	CCONJ
economy-1236	267	2	oc	oc	ADP
economy-1236	267	3	3,255	3,255	NUM
economy-1236	267	4	0,007	0,007	NUM
economy-1236	267	5	*	*	PUNCT
economy-1236	267	6	*	*	PUNCT
economy-1236	267	7	*	*	PUNCT
economy-1236	268	1	+	+	PUNCT
economy-1236	268	2	+	+	X
economy-1236	268	3	seni	seni	NOUN
economy-1236	268	4	26,332	26,332	NUM
economy-1236	268	5	0,998	0,998	NUM
economy-1236	268	6	+	+	CCONJ
economy-1236	268	7	+	+	CCONJ
economy-1236	268	8	fiedu	fiedu	NOUN
economy-1236	268	9	-3,445	-3,445	NOUN
economy-1236	268	10	0,003	0,003	NUM
economy-1236	268	11	*	*	PUNCT
economy-1236	269	1	*	*	PUNCT
economy-1236	269	2	*	*	PUNCT
economy-1236	269	3	cox	cox	PROPN
economy-1236	269	4	and	and	CCONJ
economy-1236	269	5	snell	snell	PROPN
economy-1236	269	6	ratios	ratio	NOUN
economy-1236	269	7	r2	r2	PROPN
economy-1236	269	8	0,476	0,476	NUM
economy-1236	269	9	model	model	NOUN
economy-1236	269	10	χ2	χ2	PROPN
economy-1236	269	11	48,506	48,506	NUM
economy-1236	269	12	p=0,000003	p=0,000003	ADJ
economy-1236	269	13	*	*	PUNCT
economy-1236	270	1	*	*	PUNCT
economy-1236	270	2	*	*	PUNCT
economy-1236	270	3	-2	-2	INTJ
economy-1236	270	4	logs	log	NOUN
economy-1236	270	5	of	of	ADP
economy-1236	270	6	likelihood	likelihood	NOUN
economy-1236	270	7	45,524	45,524	NUM
economy-1236	270	8	n	n	CCONJ
economy-1236	270	9	75	75	NUM
economy-1236	270	10	note	note	NOUN
economy-1236	270	11	:	:	PUNCT
economy-1236	271	1	*	*	PUNCT
economy-1236	271	2	*	*	PUNCT
economy-1236	271	3	,	,	PUNCT
economy-1236	271	4	*	*	PUNCT
economy-1236	271	5	*	*	PUNCT
economy-1236	271	6	*	*	PUNCT
economy-1236	271	7	respectively	respectively	ADV
economy-1236	271	8	significance	significance	NOUN
economy-1236	271	9	at	at	ADP
economy-1236	271	10	5	5	NUM
economy-1236	271	11	%	%	NOUN
economy-1236	271	12	and1	and1	PROPN
economy-1236	271	13	%	%	NOUN
economy-1236	271	14	.	.	PUNCT
economy-1236	272	1	the	the	DET
economy-1236	272	2	results	result	NOUN
economy-1236	272	3	appearing	appear	VERB
economy-1236	272	4	on	on	ADP
economy-1236	272	5	table	table	NOUN
economy-1236	272	6	5	5	NUM
economy-1236	272	7	show	show	VERB
economy-1236	272	8	that	that	SCONJ
economy-1236	272	9	managerial	managerial	ADJ
economy-1236	272	10	optimism	optimism	NOUN
economy-1236	272	11	and	and	CCONJ
economy-1236	272	12	board	board	NOUN
economy-1236	272	13	characteristics	characteristic	NOUN
economy-1236	272	14	explain	explain	VERB
economy-1236	272	15	47.6	47.6	NUM
economy-1236	272	16	%	%	NOUN
economy-1236	272	17	of	of	ADP
economy-1236	272	18	the	the	DET
economy-1236	272	19	debt	debt	NOUN
economy-1236	272	20	decisions	decision	NOUN
economy-1236	272	21	of	of	ADP
economy-1236	272	22	the	the	DET
economy-1236	272	23	companies	company	NOUN
economy-1236	272	24	in	in	ADP
economy-1236	272	25	our	our	PRON
economy-1236	272	26	sample	sample	NOUN
economy-1236	272	27	,	,	PUNCT
economy-1236	272	28	(	(	PUNCT
economy-1236	272	29	r²	r²	NOUN
economy-1236	272	30	=	=	PUNCT
economy-1236	272	31	47.6	47.6	NUM
economy-1236	272	32	%	%	NOUN
economy-1236	272	33	)	)	PUNCT
economy-1236	272	34	.	.	PUNCT
economy-1236	273	1	the	the	DET
economy-1236	273	2	examination	examination	NOUN
economy-1236	273	3	of	of	ADP
economy-1236	273	4	the	the	DET
economy-1236	273	5	results	result	NOUN
economy-1236	273	6	concerning	concern	VERB
economy-1236	273	7	the	the	DET
economy-1236	273	8	variables	variable	NOUN
economy-1236	273	9	related	relate	VERB
economy-1236	273	10	to	to	ADP
economy-1236	273	11	managerial	managerial	ADJ
economy-1236	273	12	optimism	optimism	NOUN
economy-1236	273	13	shows	show	VERB
economy-1236	273	14	a	a	DET
economy-1236	273	15	negative	negative	ADJ
economy-1236	273	16	and	and	CCONJ
economy-1236	273	17	significant	significant	ADJ
economy-1236	273	18	relationship	relationship	NOUN
economy-1236	273	19	between	between	ADP
economy-1236	273	20	the	the	DET
economy-1236	273	21	criterion	criterion	NOUN
economy-1236	273	22	of	of	ADP
economy-1236	273	23	the	the	DET
economy-1236	273	24	estimation	estimation	NOUN
economy-1236	273	25	of	of	ADP
economy-1236	273	26	future	future	ADJ
economy-1236	273	27	returns	return	NOUN
economy-1236	273	28	and	and	CCONJ
economy-1236	273	29	the	the	DET
economy-1236	273	30	debt	debt	NOUN
economy-1236	273	31	decision	decision	NOUN
economy-1236	273	32	(	(	PUNCT
economy-1236	273	33	β=	β=	NOUN
economy-1236	273	34	-1.233	-1.233	X
economy-1236	273	35	,	,	PUNCT
economy-1236	273	36	p	p	NOUN
economy-1236	273	37	=	=	X
economy-1236	273	38	0.022).this	0.022).this	NUM
economy-1236	273	39	can	can	AUX
economy-1236	273	40	be	be	AUX
economy-1236	273	41	explained	explain	VERB
economy-1236	273	42	by	by	ADP
economy-1236	273	43	the	the	DET
economy-1236	273	44	fact	fact	NOUN
economy-1236	273	45	that	that	SCONJ
economy-1236	273	46	an	an	DET
economy-1236	273	47	optimistic	optimistic	ADJ
economy-1236	273	48	executive	executive	NOUN
economy-1236	273	49	who	who	PRON
economy-1236	273	50	overestimates	overestimate	VERB
economy-1236	273	51	future	future	ADJ
economy-1236	273	52	returns	return	NOUN
economy-1236	273	53	applies	apply	VERB
economy-1236	273	54	less	less	ADJ
economy-1236	273	55	debt	debt	NOUN
economy-1236	273	56	to	to	PART
economy-1236	273	57	minimize	minimize	VERB
economy-1236	273	58	the	the	DET
economy-1236	273	59	financial	financial	ADJ
economy-1236	273	60	cost	cost	NOUN
economy-1236	273	61	and	and	CCONJ
economy-1236	273	62	loyalty	loyalty	NOUN
economy-1236	273	63	to	to	ADP
economy-1236	273	64	these	these	DET
economy-1236	273	65	major	major	ADJ
economy-1236	273	66	shareholders	shareholder	NOUN
economy-1236	273	67	.	.	PUNCT
economy-1236	274	1	overestimation	overestimation	NOUN
economy-1236	274	2	of	of	ADP
economy-1236	274	3	future	future	ADJ
economy-1236	274	4	returns	return	NOUN
economy-1236	274	5	implies	imply	VERB
economy-1236	274	6	a	a	DET
economy-1236	274	7	rise	rise	NOUN
economy-1236	274	8	in	in	ADP
economy-1236	274	9	the	the	DET
economy-1236	274	10	expected	expect	VERB
economy-1236	274	11	dividend	dividend	NOUN
economy-1236	274	12	level	level	NOUN
economy-1236	274	13	.	.	PUNCT
economy-1236	275	1	the	the	DET
economy-1236	275	2	expected	expect	VERB
economy-1236	275	3	dividend	dividend	NOUN
economy-1236	275	4	increase	increase	NOUN
economy-1236	275	5	leads	lead	VERB
economy-1236	275	6	to	to	ADP
economy-1236	275	7	a	a	DET
economy-1236	275	8	valuation	valuation	NOUN
economy-1236	275	9	of	of	ADP
economy-1236	275	10	the	the	DET
economy-1236	275	11	shares	share	NOUN
economy-1236	275	12	and	and	CCONJ
economy-1236	275	13	favors	favor	VERB
economy-1236	275	14	the	the	DET
economy-1236	275	15	equity	equity	NOUN
economy-1236	275	16	choice	choice	NOUN
economy-1236	275	17	relative	relative	ADJ
economy-1236	275	18	to	to	ADP
economy-1236	275	19	the	the	DET
economy-1236	275	20	debt	debt	NOUN
economy-1236	275	21	.	.	PUNCT
economy-1236	276	1	the	the	DET
economy-1236	276	2	results	result	NOUN
economy-1236	276	3	show	show	VERB
economy-1236	276	4	the	the	DET
economy-1236	276	5	existence	existence	NOUN
economy-1236	276	6	of	of	ADP
economy-1236	276	7	a	a	DET
economy-1236	276	8	positive	positive	ADJ
economy-1236	276	9	and	and	CCONJ
economy-1236	276	10	significant	significant	ADJ
economy-1236	276	11	relationship	relationship	NOUN
economy-1236	276	12	between	between	ADP
economy-1236	276	13	the	the	DET
economy-1236	276	14	criterion	criterion	NOUN
economy-1236	276	15	of	of	ADP
economy-1236	276	16	the	the	DET
economy-1236	276	17	estimation	estimation	NOUN
economy-1236	276	18	of	of	ADP
economy-1236	276	19	growth	growth	NOUN
economy-1236	276	20	opportunities	opportunity	NOUN
economy-1236	276	21	and	and	CCONJ
economy-1236	276	22	the	the	DET
economy-1236	276	23	decision	decision	NOUN
economy-1236	276	24	of	of	ADP
economy-1236	276	25	indebtedness	indebtedness	NOUN
economy-1236	276	26	(	(	PUNCT
economy-1236	276	27	β	β	X
economy-1236	276	28	=	=	SYM
economy-1236	276	29	1.588	1.588	NUM
economy-1236	276	30	,	,	PUNCT
economy-1236	276	31	p	p	X
economy-1236	276	32	=	=	NOUN
economy-1236	276	33	0.006).this	0.006).this	NOUN
economy-1236	276	34	implies	imply	VERB
economy-1236	276	35	that	that	SCONJ
economy-1236	276	36	a	a	DET
economy-1236	276	37	optimistic	optimistic	ADJ
economy-1236	276	38	ceo	ceo	NOUN
economy-1236	276	39	who	who	PRON
economy-1236	276	40	is	be	AUX
economy-1236	276	41	accustomed	accustomed	ADJ
economy-1236	276	42	to	to	ADP
economy-1236	276	43	overstating	overstate	VERB
economy-1236	276	44	the	the	DET
economy-1236	276	45	investment	investment	NOUN
economy-1236	276	46	opportunities	opportunity	NOUN
economy-1236	276	47	of	of	ADP
economy-1236	276	48	his	his	PRON
economy-1236	276	49	company	company	NOUN
economy-1236	276	50	in	in	ADP
economy-1236	276	51	times	time	NOUN
economy-1236	276	52	of	of	ADP
economy-1236	276	53	uncertainty	uncertainty	NOUN
economy-1236	276	54	will	will	AUX
economy-1236	276	55	increase	increase	VERB
economy-1236	276	56	his	his	PRON
economy-1236	276	57	commitment	commitment	NOUN
economy-1236	276	58	to	to	ADP
economy-1236	276	59	risky	risky	ADJ
economy-1236	276	60	decisions	decision	NOUN
economy-1236	276	61	(	(	PUNCT
economy-1236	276	62	including	include	VERB
economy-1236	276	63	the	the	DET
economy-1236	276	64	choice	choice	NOUN
economy-1236	276	65	of	of	ADP
economy-1236	276	66	debt	debt	NOUN
economy-1236	276	67	)	)	PUNCT
economy-1236	276	68	.	.	PUNCT
economy-1236	277	1	they	they	PRON
economy-1236	277	2	are	be	AUX
economy-1236	277	3	planning	plan	VERB
economy-1236	277	4	their	their	PRON
economy-1236	277	5	ability	ability	NOUN
economy-1236	277	6	to	to	PART
economy-1236	277	7	repay	repay	VERB
economy-1236	277	8	their	their	PRON
economy-1236	277	9	debt	debt	NOUN
economy-1236	277	10	.	.	PUNCT
economy-1236	278	1	on	on	ADP
economy-1236	278	2	the	the	DET
economy-1236	278	3	other	other	ADJ
economy-1236	278	4	hand	hand	NOUN
economy-1236	278	5	,	,	PUNCT
economy-1236	278	6	he	he	PRON
economy-1236	278	7	believes	believe	VERB
economy-1236	278	8	that	that	SCONJ
economy-1236	278	9	his	his	PRON
economy-1236	278	10	company	company	NOUN
economy-1236	278	11	is	be	AUX
economy-1236	278	12	undervalued	undervalue	VERB
economy-1236	278	13	by	by	ADP
economy-1236	278	14	the	the	DET
economy-1236	278	15	market	market	NOUN
economy-1236	278	16	and	and	CCONJ
economy-1236	278	17	avoids	avoid	VERB
economy-1236	278	18	the	the	DET
economy-1236	278	19	equity	equity	NOUN
economy-1236	278	20	choice	choice	NOUN
economy-1236	278	21	.	.	PUNCT
economy-1236	279	1	they	they	PRON
economy-1236	279	2	therefore	therefore	ADV
economy-1236	279	3	prefer	prefer	VERB
economy-1236	279	4	debt	debt	NOUN
economy-1236	279	5	.	.	PUNCT
economy-1236	280	1	economy	economy	NOUN
economy-1236	280	2	,	,	PUNCT
economy-1236	280	3	2019	2019	NUM
economy-1236	280	4	,	,	PUNCT
economy-1236	280	5	6(2	6(2	NUM
economy-1236	280	6	):	):	PUNCT
economy-1236	280	7	82	82	NUM
economy-1236	280	8	-	-	SYM
economy-1236	280	9	91	91	NUM
economy-1236	280	10	89	89	NUM
economy-1236	280	11	©	©	PROPN
economy-1236	280	12	2019	2019	NUM
economy-1236	280	13	by	by	ADP
economy-1236	280	14	the	the	DET
economy-1236	280	15	authors	author	NOUN
economy-1236	280	16	;	;	PUNCT
economy-1236	280	17	licensee	licensee	PROPN
economy-1236	280	18	asian	asian	ADJ
economy-1236	280	19	online	online	PROPN
economy-1236	280	20	journal	journal	PROPN
economy-1236	280	21	publishing	publishing	NOUN
economy-1236	280	22	group	group	NOUN
economy-1236	280	23	a	a	DET
economy-1236	280	24	positive	positive	ADJ
economy-1236	280	25	and	and	CCONJ
economy-1236	280	26	significant	significant	ADJ
economy-1236	280	27	relationship	relationship	NOUN
economy-1236	280	28	in	in	ADP
economy-1236	280	29	the	the	DET
economy-1236	280	30	range	range	NOUN
economy-1236	280	31	of	of	ADP
economy-1236	280	32	5	5	NUM
economy-1236	280	33	%	%	NOUN
economy-1236	280	34	is	be	AUX
economy-1236	280	35	between	between	ADP
economy-1236	280	36	problem	problem	NOUN
economy-1236	280	37	solving	solving	NOUN
economy-1236	280	38	ability	ability	NOUN
economy-1236	280	39	and	and	CCONJ
economy-1236	280	40	debt	debt	NOUN
economy-1236	280	41	level	level	NOUN
economy-1236	280	42	(	(	PUNCT
economy-1236	280	43	β	β	X
economy-1236	280	44	=	=	SYM
economy-1236	280	45	1.276	1.276	NUM
economy-1236	280	46	,	,	PUNCT
economy-1236	280	47	p	p	NOUN
economy-1236	280	48	=	=	NOUN
economy-1236	280	49	0.020).this	0.020).this	NUM
economy-1236	280	50	relationship	relationship	NOUN
economy-1236	280	51	is	be	AUX
economy-1236	280	52	explained	explain	VERB
economy-1236	280	53	by	by	ADP
economy-1236	280	54	the	the	DET
economy-1236	280	55	fact	fact	NOUN
economy-1236	280	56	that	that	SCONJ
economy-1236	280	57	an	an	DET
economy-1236	280	58	optimistic	optimistic	ADJ
economy-1236	280	59	leader	leader	NOUN
economy-1236	280	60	overestimates	overestimate	VERB
economy-1236	280	61	his	his	PRON
economy-1236	280	62	skills	skill	NOUN
economy-1236	280	63	to	to	PART
economy-1236	280	64	reduce	reduce	VERB
economy-1236	280	65	risks	risk	NOUN
economy-1236	280	66	.	.	PUNCT
economy-1236	281	1	this	this	PRON
economy-1236	281	2	led	lead	VERB
economy-1236	281	3	him	he	PRON
economy-1236	281	4	to	to	PART
economy-1236	281	5	choose	choose	VERB
economy-1236	281	6	riskier	risky	ADJ
economy-1236	281	7	decisions	decision	NOUN
economy-1236	281	8	,	,	PUNCT
economy-1236	281	9	including	include	VERB
economy-1236	281	10	the	the	DET
economy-1236	281	11	preference	preference	NOUN
economy-1236	281	12	for	for	ADP
economy-1236	281	13	additional	additional	ADJ
economy-1236	281	14	debt	debt	NOUN
economy-1236	281	15	choice	choice	NOUN
economy-1236	281	16	.	.	PUNCT
economy-1236	282	1	the	the	DET
economy-1236	282	2	results	result	NOUN
economy-1236	282	3	also	also	ADV
economy-1236	282	4	show	show	VERB
economy-1236	282	5	a	a	DET
economy-1236	282	6	positive	positive	ADJ
economy-1236	282	7	and	and	CCONJ
economy-1236	282	8	insignificant	insignificant	ADJ
economy-1236	282	9	relationship	relationship	NOUN
economy-1236	282	10	between	between	ADP
economy-1236	282	11	the	the	DET
economy-1236	282	12	overestimation	overestimation	NOUN
economy-1236	282	13	of	of	ADP
economy-1236	282	14	the	the	DET
economy-1236	282	15	personal	personal	ADJ
economy-1236	282	16	situation	situation	NOUN
economy-1236	282	17	and	and	CCONJ
economy-1236	282	18	the	the	DET
economy-1236	282	19	debt	debt	NOUN
economy-1236	282	20	ratio	ratio	NOUN
economy-1236	282	21	.	.	PUNCT
economy-1236	283	1	the	the	DET
economy-1236	283	2	non	non	NOUN
economy-1236	283	3	-	-	NOUN
economy-1236	283	4	significance	significance	NOUN
economy-1236	283	5	of	of	ADP
economy-1236	283	6	this	this	DET
economy-1236	283	7	criterion	criterion	NOUN
economy-1236	283	8	of	of	ADP
economy-1236	283	9	optimism	optimism	NOUN
economy-1236	283	10	is	be	AUX
economy-1236	283	11	justified	justify	VERB
economy-1236	283	12	by	by	ADP
economy-1236	283	13	the	the	DET
economy-1236	283	14	vigilance	vigilance	NOUN
economy-1236	283	15	of	of	ADP
economy-1236	283	16	the	the	DET
economy-1236	283	17	agents	agent	NOUN
economy-1236	283	18	.	.	PUNCT
economy-1236	284	1	this	this	PRON
economy-1236	284	2	is	be	AUX
economy-1236	284	3	one	one	NUM
economy-1236	284	4	of	of	ADP
economy-1236	284	5	the	the	DET
economy-1236	284	6	rooting	rooting	NOUN
economy-1236	284	7	means	mean	NOUN
economy-1236	284	8	is	be	AUX
economy-1236	284	9	to	to	PART
economy-1236	284	10	ignore	ignore	VERB
economy-1236	284	11	the	the	DET
economy-1236	284	12	personal	personal	ADJ
economy-1236	284	13	situation	situation	NOUN
economy-1236	284	14	in	in	ADP
economy-1236	284	15	the	the	DET
economy-1236	284	16	work	work	NOUN
economy-1236	284	17	setting	setting	NOUN
economy-1236	284	18	and	and	CCONJ
economy-1236	284	19	in	in	ADP
economy-1236	284	20	the	the	DET
economy-1236	284	21	strategic	strategic	ADJ
economy-1236	284	22	decisions	decision	NOUN
economy-1236	284	23	making	make	VERB
economy-1236	284	24	.	.	PUNCT
economy-1236	285	1	the	the	DET
economy-1236	285	2	results	result	NOUN
economy-1236	285	3	show	show	VERB
economy-1236	285	4	a	a	DET
economy-1236	285	5	positive	positive	ADJ
economy-1236	285	6	and	and	CCONJ
economy-1236	285	7	significant	significant	ADJ
economy-1236	285	8	relationship	relationship	NOUN
economy-1236	285	9	between	between	ADP
economy-1236	285	10	the	the	DET
economy-1236	285	11	percentage	percentage	NOUN
economy-1236	285	12	of	of	ADP
economy-1236	285	13	independent	independent	ADJ
economy-1236	285	14	external	external	ADJ
economy-1236	285	15	directors	director	NOUN
economy-1236	285	16	on	on	ADP
economy-1236	285	17	the	the	DET
economy-1236	285	18	board	board	NOUN
economy-1236	285	19	and	and	CCONJ
economy-1236	285	20	the	the	DET
economy-1236	285	21	firms	firm	NOUN
economy-1236	285	22	debt	debt	NOUN
economy-1236	285	23	level	level	NOUN
economy-1236	285	24	(	(	PUNCT
economy-1236	285	25	β	β	X
economy-1236	285	26	=	=	SYM
economy-1236	285	27	5.867	5.867	NUM
economy-1236	285	28	,	,	PUNCT
economy-1236	285	29	p	p	X
economy-1236	285	30	=	=	X
economy-1236	285	31	0.003).the	0.003).the	DET
economy-1236	285	32	presence	presence	NOUN
economy-1236	285	33	of	of	ADP
economy-1236	285	34	independent	independent	ADJ
economy-1236	285	35	directors	director	NOUN
economy-1236	285	36	gives	give	VERB
economy-1236	285	37	the	the	DET
economy-1236	285	38	company	company	NOUN
economy-1236	285	39	the	the	DET
economy-1236	285	40	benefit	benefit	NOUN
economy-1236	285	41	of	of	ADP
economy-1236	285	42	technical	technical	ADJ
economy-1236	285	43	expertise	expertise	NOUN
economy-1236	285	44	and	and	CCONJ
economy-1236	285	45	privileged	privileged	ADJ
economy-1236	285	46	environmental	environmental	ADJ
economy-1236	285	47	information	information	NOUN
economy-1236	285	48	in	in	ADP
economy-1236	285	49	order	order	NOUN
economy-1236	285	50	to	to	PART
economy-1236	285	51	converge	converge	VERB
economy-1236	285	52	the	the	DET
economy-1236	285	53	interests	interest	NOUN
economy-1236	285	54	of	of	ADP
economy-1236	285	55	the	the	DET
economy-1236	285	56	principal	principal	NOUN
economy-1236	285	57	with	with	ADP
economy-1236	285	58	that	that	PRON
economy-1236	285	59	of	of	ADP
economy-1236	285	60	ceo	ceo	NOUN
economy-1236	285	61	.	.	PUNCT
economy-1236	286	1	this	this	DET
economy-1236	286	2	convergence	convergence	NOUN
economy-1236	286	3	gives	give	VERB
economy-1236	286	4	more	more	ADJ
economy-1236	286	5	freedom	freedom	NOUN
economy-1236	286	6	for	for	ADP
economy-1236	286	7	the	the	DET
economy-1236	286	8	optimistic	optimistic	ADJ
economy-1236	286	9	leader	leader	NOUN
economy-1236	286	10	to	to	PART
economy-1236	286	11	increase	increase	VERB
economy-1236	286	12	the	the	DET
economy-1236	286	13	frequency	frequency	NOUN
economy-1236	286	14	of	of	ADP
economy-1236	286	15	achievements	achievement	NOUN
economy-1236	286	16	of	of	ADP
economy-1236	286	17	new	new	ADJ
economy-1236	286	18	projects	project	NOUN
economy-1236	286	19	.	.	PUNCT
economy-1236	287	1	to	to	PART
economy-1236	287	2	finance	finance	VERB
economy-1236	287	3	these	these	DET
economy-1236	287	4	projects	project	NOUN
economy-1236	287	5	,	,	PUNCT
economy-1236	287	6	optimistic	optimistic	ADJ
economy-1236	287	7	leaders	leader	NOUN
economy-1236	287	8	prefer	prefer	VERB
economy-1236	287	9	debts	debt	NOUN
economy-1236	287	10	to	to	PART
economy-1236	287	11	ignore	ignore	VERB
economy-1236	287	12	the	the	DET
economy-1236	287	13	sharing	sharing	NOUN
economy-1236	287	14	of	of	ADP
economy-1236	287	15	profits	profit	NOUN
economy-1236	287	16	incurred	incur	VERB
economy-1236	287	17	on	on	ADP
economy-1236	287	18	new	new	ADJ
economy-1236	287	19	shareholders	shareholder	NOUN
economy-1236	287	20	in	in	ADP
economy-1236	287	21	case	case	NOUN
economy-1236	287	22	of	of	ADP
economy-1236	287	23	equity	equity	NOUN
economy-1236	287	24	choice	choice	NOUN
economy-1236	287	25	.	.	PUNCT
economy-1236	288	1	this	this	PRON
economy-1236	288	2	implies	imply	VERB
economy-1236	288	3	the	the	DET
economy-1236	288	4	increase	increase	NOUN
economy-1236	288	5	in	in	ADP
economy-1236	288	6	the	the	DET
economy-1236	288	7	debt	debt	NOUN
economy-1236	288	8	level	level	NOUN
economy-1236	288	9	of	of	ADP
economy-1236	288	10	the	the	DET
economy-1236	288	11	company	company	NOUN
economy-1236	288	12	.	.	PUNCT
economy-1236	289	1	in	in	ADP
economy-1236	289	2	other	other	ADJ
economy-1236	289	3	words	word	NOUN
economy-1236	289	4	,	,	PUNCT
economy-1236	289	5	the	the	DET
economy-1236	289	6	existence	existence	NOUN
economy-1236	289	7	of	of	ADP
economy-1236	289	8	independent	independent	ADJ
economy-1236	289	9	members	member	NOUN
economy-1236	289	10	on	on	ADP
economy-1236	289	11	the	the	DET
economy-1236	289	12	board	board	NOUN
economy-1236	289	13	of	of	ADP
economy-1236	289	14	directors	director	NOUN
economy-1236	289	15	gives	give	VERB
economy-1236	289	16	a	a	DET
economy-1236	289	17	good	good	ADJ
economy-1236	289	18	signal	signal	NOUN
economy-1236	289	19	on	on	ADP
economy-1236	289	20	the	the	DET
economy-1236	289	21	leading	lead	VERB
economy-1236	289	22	part	part	NOUN
economy-1236	289	23	of	of	ADP
economy-1236	289	24	the	the	DET
economy-1236	289	25	company	company	NOUN
economy-1236	289	26	.	.	PUNCT
economy-1236	290	1	the	the	DET
economy-1236	290	2	latter	latter	ADJ
economy-1236	290	3	seems	seem	VERB
economy-1236	290	4	to	to	PART
economy-1236	290	5	have	have	VERB
economy-1236	290	6	a	a	DET
economy-1236	290	7	favorable	favorable	ADJ
economy-1236	290	8	and	and	CCONJ
economy-1236	290	9	easier	easy	ADJ
economy-1236	290	10	access	access	NOUN
economy-1236	290	11	to	to	ADP
economy-1236	290	12	debt	debt	NOUN
economy-1236	290	13	.	.	PUNCT
economy-1236	291	1	we	we	PRON
economy-1236	291	2	also	also	ADV
economy-1236	291	3	note	note	VERB
economy-1236	291	4	that	that	SCONJ
economy-1236	291	5	the	the	DET
economy-1236	291	6	debt	debt	NOUN
economy-1236	291	7	level	level	NOUN
economy-1236	291	8	is	be	AUX
economy-1236	291	9	in	in	ADP
economy-1236	291	10	negative	negative	ADJ
economy-1236	291	11	relation	relation	NOUN
economy-1236	291	12	and	and	CCONJ
economy-1236	291	13	not	not	PART
economy-1236	291	14	significant	significant	ADJ
economy-1236	291	15	with	with	ADP
economy-1236	291	16	the	the	DET
economy-1236	291	17	ceo	ceo	NOUN
economy-1236	291	18	duality	duality	NOUN
economy-1236	291	19	(	(	PUNCT
economy-1236	291	20	β	β	X
economy-1236	291	21	=	=	SYM
economy-1236	291	22	-0.227	-0.227	PROPN
economy-1236	291	23	,	,	PUNCT
economy-1236	291	24	p	p	NOUN
economy-1236	291	25	=	=	NOUN
economy-1236	291	26	0.825).this	0.825).this	NOUN
economy-1236	291	27	is	be	AUX
economy-1236	291	28	justified	justify	VERB
economy-1236	291	29	by	by	ADP
economy-1236	291	30	two	two	NUM
economy-1236	291	31	factors	factor	NOUN
economy-1236	291	32	,	,	PUNCT
economy-1236	291	33	debt	debt	NOUN
economy-1236	291	34	and	and	CCONJ
economy-1236	291	35	the	the	DET
economy-1236	291	36	nature	nature	NOUN
economy-1236	291	37	of	of	ADP
economy-1236	291	38	tunisian	tunisian	ADJ
economy-1236	291	39	firm	firm	NOUN
economy-1236	291	40	.	.	PUNCT
economy-1236	292	1	in	in	ADP
economy-1236	292	2	fact	fact	NOUN
economy-1236	292	3	,	,	PUNCT
economy-1236	292	4	if	if	SCONJ
economy-1236	292	5	a	a	DET
economy-1236	292	6	company	company	NOUN
economy-1236	292	7	is	be	AUX
economy-1236	292	8	in	in	ADP
economy-1236	292	9	debt	debt	NOUN
economy-1236	292	10	,	,	PUNCT
economy-1236	292	11	it	it	PRON
economy-1236	292	12	is	be	AUX
economy-1236	292	13	subject	subject	ADJ
economy-1236	292	14	to	to	ADP
economy-1236	292	15	the	the	DET
economy-1236	292	16	power	power	NOUN
economy-1236	292	17	of	of	ADP
economy-1236	292	18	an	an	DET
economy-1236	292	19	external	external	ADJ
economy-1236	292	20	auditor	auditor	NOUN
economy-1236	292	21	who	who	PRON
economy-1236	292	22	does	do	AUX
economy-1236	292	23	not	not	PART
economy-1236	292	24	accept	accept	VERB
economy-1236	292	25	the	the	DET
economy-1236	292	26	presence	presence	NOUN
economy-1236	292	27	of	of	ADP
economy-1236	292	28	a	a	DET
economy-1236	292	29	ceo	ceo	NOUN
economy-1236	292	30	as	as	ADP
economy-1236	292	31	chairman	chairman	NOUN
economy-1236	292	32	of	of	ADP
economy-1236	292	33	the	the	DET
economy-1236	292	34	board.on	board.on	NOUN
economy-1236	292	35	the	the	DET
economy-1236	292	36	other	other	ADJ
economy-1236	292	37	hand	hand	NOUN
economy-1236	292	38	,	,	PUNCT
economy-1236	292	39	there	there	PRON
economy-1236	292	40	is	be	VERB
economy-1236	292	41	a	a	DET
economy-1236	292	42	large	large	ADJ
economy-1236	292	43	percentage	percentage	NOUN
economy-1236	292	44	of	of	ADP
economy-1236	292	45	family	family	NOUN
economy-1236	292	46	businesses	business	NOUN
economy-1236	292	47	in	in	ADP
economy-1236	292	48	tunisian	tunisian	ADJ
economy-1236	292	49	companies	company	NOUN
economy-1236	292	50	.	.	PUNCT
economy-1236	293	1	this	this	PRON
economy-1236	293	2	negatively	negatively	ADV
economy-1236	293	3	affects	affect	VERB
economy-1236	293	4	the	the	DET
economy-1236	293	5	significance	significance	NOUN
economy-1236	293	6	and	and	CCONJ
economy-1236	293	7	robustness	robustness	NOUN
economy-1236	293	8	of	of	ADP
economy-1236	293	9	responses	response	NOUN
economy-1236	293	10	(	(	PUNCT
economy-1236	293	11	72	72	NUM
economy-1236	293	12	%	%	NOUN
economy-1236	293	13	of	of	ADP
economy-1236	293	14	companies	company	NOUN
economy-1236	293	15	are	be	AUX
economy-1236	293	16	family	family	NOUN
economy-1236	293	17	businesses	business	NOUN
economy-1236	293	18	)	)	PUNCT
economy-1236	293	19	.	.	PUNCT
economy-1236	294	1	the	the	DET
economy-1236	294	2	regression	regression	NOUN
economy-1236	294	3	also	also	ADV
economy-1236	294	4	shows	show	VERB
economy-1236	294	5	a	a	DET
economy-1236	294	6	negative	negative	ADJ
economy-1236	294	7	and	and	CCONJ
economy-1236	294	8	significant	significant	ADJ
economy-1236	294	9	relationship	relationship	NOUN
economy-1236	294	10	between	between	ADP
economy-1236	294	11	board	board	NOUN
economy-1236	294	12	size	size	NOUN
economy-1236	294	13	and	and	CCONJ
economy-1236	294	14	debt	debt	NOUN
economy-1236	294	15	ratio	ratio	NOUN
economy-1236	294	16	(	(	PUNCT
economy-1236	294	17	β	β	X
economy-1236	294	18	=	=	NUM
economy-1236	294	19	5.099	5.099	NUM
economy-1236	294	20	,	,	PUNCT
economy-1236	294	21	p	p	NOUN
economy-1236	294	22	=	=	X
economy-1236	294	23	0.008).a	0.008).a	X
economy-1236	294	24	plausible	plausible	ADJ
economy-1236	294	25	justification	justification	NOUN
economy-1236	294	26	for	for	ADP
economy-1236	294	27	this	this	DET
economy-1236	294	28	result	result	NOUN
economy-1236	294	29	is	be	AUX
economy-1236	294	30	that	that	SCONJ
economy-1236	294	31	an	an	DET
economy-1236	294	32	optimistic	optimistic	ADJ
economy-1236	294	33	manager	manager	NOUN
economy-1236	294	34	who	who	PRON
economy-1236	294	35	seeks	seek	VERB
economy-1236	294	36	to	to	PART
economy-1236	294	37	increase	increase	VERB
economy-1236	294	38	the	the	DET
economy-1236	294	39	value	value	NOUN
economy-1236	294	40	of	of	ADP
economy-1236	294	41	the	the	DET
economy-1236	294	42	company	company	NOUN
economy-1236	294	43	prefers	prefer	VERB
economy-1236	294	44	to	to	PART
economy-1236	294	45	have	have	VERB
economy-1236	294	46	greater	great	ADJ
economy-1236	294	47	discretion	discretion	NOUN
economy-1236	294	48	over	over	ADP
economy-1236	294	49	his	his	PRON
economy-1236	294	50	future	future	ADJ
economy-1236	294	51	investments	investment	NOUN
economy-1236	294	52	.	.	PUNCT
economy-1236	295	1	indeed	indeed	ADV
economy-1236	295	2	a	a	DET
economy-1236	295	3	small	small	ADJ
economy-1236	295	4	board	board	NOUN
economy-1236	295	5	of	of	ADP
economy-1236	295	6	directors	director	NOUN
economy-1236	295	7	can	can	AUX
economy-1236	295	8	keep	keep	VERB
economy-1236	295	9	this	this	DET
economy-1236	295	10	discretion	discretion	NOUN
economy-1236	295	11	.	.	PUNCT
economy-1236	296	1	his	his	PRON
economy-1236	296	2	asymmetry	asymmetry	NOUN
economy-1236	296	3	leads	lead	VERB
economy-1236	296	4	to	to	ADP
economy-1236	296	5	undervaluation	undervaluation	NOUN
economy-1236	296	6	of	of	ADP
economy-1236	296	7	the	the	DET
economy-1236	296	8	new	new	ADJ
economy-1236	296	9	securities	security	NOUN
economy-1236	296	10	issued	issue	VERB
economy-1236	296	11	.	.	PUNCT
economy-1236	297	1	as	as	ADP
economy-1236	297	2	a	a	DET
economy-1236	297	3	result	result	NOUN
economy-1236	297	4	,	,	PUNCT
economy-1236	297	5	the	the	DET
economy-1236	297	6	choice	choice	NOUN
economy-1236	297	7	of	of	ADP
economy-1236	297	8	financing	financing	NOUN
economy-1236	297	9	through	through	ADP
economy-1236	297	10	equity	equity	NOUN
economy-1236	297	11	choice	choice	NOUN
economy-1236	297	12	will	will	AUX
economy-1236	297	13	be	be	AUX
economy-1236	297	14	more	more	ADV
economy-1236	297	15	expensive	expensive	ADJ
economy-1236	297	16	.	.	PUNCT
economy-1236	298	1	so	so	ADV
economy-1236	298	2	a	a	DET
economy-1236	298	3	little	little	ADJ
economy-1236	298	4	advice	advice	NOUN
economy-1236	298	5	will	will	AUX
economy-1236	298	6	encourage	encourage	VERB
economy-1236	298	7	debt	debt	NOUN
economy-1236	298	8	choice	choice	NOUN
economy-1236	298	9	.	.	PUNCT
economy-1236	299	1	there	there	PRON
economy-1236	299	2	is	be	VERB
economy-1236	299	3	a	a	DET
economy-1236	299	4	positive	positive	ADJ
economy-1236	299	5	and	and	CCONJ
economy-1236	299	6	significant	significant	ADJ
economy-1236	299	7	relationship	relationship	NOUN
economy-1236	299	8	between	between	ADP
economy-1236	299	9	indebtedness	indebtedness	NOUN
economy-1236	299	10	and	and	CCONJ
economy-1236	299	11	ownership	ownership	NOUN
economy-1236	299	12	structure	structure	NOUN
economy-1236	299	13	of	of	ADP
economy-1236	299	14	the	the	DET
economy-1236	299	15	firm	firm	NOUN
economy-1236	299	16	(	(	PUNCT
economy-1236	299	17	β	β	X
economy-1236	299	18	=	=	NUM
economy-1236	299	19	3.255	3.255	NUM
economy-1236	299	20	,	,	PUNCT
economy-1236	299	21	p	p	X
economy-1236	299	22	=	=	PUNCT
economy-1236	299	23	0.007).the	0.007).the	DET
economy-1236	299	24	presence	presence	NOUN
economy-1236	299	25	of	of	ADP
economy-1236	299	26	block	block	NOUN
economy-1236	299	27	holders	holder	NOUN
economy-1236	299	28	is	be	AUX
economy-1236	299	29	considered	consider	VERB
economy-1236	299	30	a	a	DET
economy-1236	299	31	disciplinary	disciplinary	ADJ
economy-1236	299	32	governance	governance	NOUN
economy-1236	299	33	mechanism	mechanism	NOUN
economy-1236	299	34	associated	associate	VERB
economy-1236	299	35	with	with	ADP
economy-1236	299	36	a	a	DET
economy-1236	299	37	high	high	ADJ
economy-1236	299	38	level	level	NOUN
economy-1236	299	39	of	of	ADP
economy-1236	299	40	control	control	NOUN
economy-1236	299	41	over	over	ADP
economy-1236	299	42	the	the	DET
economy-1236	299	43	leader	leader	NOUN
economy-1236	299	44	.	.	PUNCT
economy-1236	300	1	thus	thus	ADV
economy-1236	300	2	,	,	PUNCT
economy-1236	300	3	the	the	DET
economy-1236	300	4	strict	strict	ADJ
economy-1236	300	5	control	control	NOUN
economy-1236	300	6	and	and	CCONJ
economy-1236	300	7	discipline	discipline	NOUN
economy-1236	300	8	exercised	exercise	VERB
economy-1236	300	9	by	by	ADP
economy-1236	300	10	the	the	DET
economy-1236	300	11	block	block	NOUN
economy-1236	300	12	holders	holder	NOUN
economy-1236	300	13	helps	help	VERB
economy-1236	300	14	to	to	PART
economy-1236	300	15	align	align	VERB
economy-1236	300	16	the	the	DET
economy-1236	300	17	manager	manager	NOUN
economy-1236	300	18	's	's	PART
economy-1236	300	19	behavior	behavior	NOUN
economy-1236	300	20	with	with	ADP
economy-1236	300	21	the	the	DET
economy-1236	300	22	company	company	NOUN
economy-1236	300	23	's	's	PART
economy-1236	300	24	objectives	objective	NOUN
economy-1236	300	25	and	and	CCONJ
economy-1236	300	26	limit	limit	VERB
economy-1236	300	27	his	his	PRON
economy-1236	300	28	discretionary	discretionary	ADJ
economy-1236	300	29	attitude	attitude	NOUN
economy-1236	300	30	.	.	PUNCT
economy-1236	301	1	an	an	DET
economy-1236	301	2	optimistic	optimistic	ADJ
economy-1236	301	3	leader	leader	NOUN
economy-1236	301	4	is	be	AUX
economy-1236	301	5	aware	aware	ADJ
economy-1236	301	6	of	of	ADP
economy-1236	301	7	the	the	DET
economy-1236	301	8	risk	risk	NOUN
economy-1236	301	9	of	of	ADP
economy-1236	301	10	losing	lose	VERB
economy-1236	301	11	his	his	PRON
economy-1236	301	12	job	job	NOUN
economy-1236	301	13	and	and	CCONJ
economy-1236	301	14	reputation	reputation	NOUN
economy-1236	301	15	on	on	ADP
economy-1236	301	16	the	the	DET
economy-1236	301	17	market	market	NOUN
economy-1236	301	18	.	.	PUNCT
economy-1236	302	1	he	he	PRON
economy-1236	302	2	seeks	seek	VERB
economy-1236	302	3	to	to	PART
economy-1236	302	4	signal	signal	VERB
economy-1236	302	5	his	his	PRON
economy-1236	302	6	good	good	ADJ
economy-1236	302	7	management	management	NOUN
economy-1236	302	8	by	by	ADP
economy-1236	302	9	a	a	DET
economy-1236	302	10	preference	preference	NOUN
economy-1236	302	11	for	for	ADP
economy-1236	302	12	debt	debt	NOUN
economy-1236	302	13	.	.	PUNCT
economy-1236	303	1	there	there	PRON
economy-1236	303	2	is	be	VERB
economy-1236	303	3	evidence	evidence	NOUN
economy-1236	303	4	of	of	ADP
economy-1236	303	5	a	a	DET
economy-1236	303	6	negative	negative	ADJ
economy-1236	303	7	and	and	CCONJ
economy-1236	303	8	insignificant	insignificant	ADJ
economy-1236	303	9	relationship	relationship	NOUN
economy-1236	303	10	between	between	ADP
economy-1236	303	11	firm	firm	ADJ
economy-1236	303	12	size	size	NOUN
economy-1236	303	13	and	and	CCONJ
economy-1236	303	14	debt	debt	NOUN
economy-1236	303	15	level	level	NOUN
economy-1236	303	16	(	(	PUNCT
economy-1236	303	17	β	β	X
economy-1236	303	18	=	=	PUNCT
economy-1236	303	19	-0.246	-0.246	NOUN
economy-1236	303	20	p	p	X
economy-1236	303	21	=	=	PUNCT
economy-1236	303	22	0.674).due	0.674).due	ADJ
economy-1236	303	23	to	to	ADP
economy-1236	303	24	better	well	ADJ
economy-1236	303	25	investor	investor	NOUN
economy-1236	303	26	knowledge	knowledge	NOUN
economy-1236	303	27	,	,	PUNCT
economy-1236	303	28	large	large	ADJ
economy-1236	303	29	companies	company	NOUN
economy-1236	303	30	can	can	AUX
economy-1236	303	31	issue	issue	VERB
economy-1236	303	32	securities	security	NOUN
economy-1236	303	33	more	more	ADV
economy-1236	303	34	easily	easily	ADV
economy-1236	303	35	without	without	ADP
economy-1236	303	36	being	be	AUX
economy-1236	303	37	undervalued	undervalue	VERB
economy-1236	303	38	than	than	ADP
economy-1236	303	39	small	small	ADJ
economy-1236	303	40	businesses	business	NOUN
economy-1236	303	41	.	.	PUNCT
economy-1236	304	1	another	another	DET
economy-1236	304	2	interesting	interesting	ADJ
economy-1236	304	3	result	result	NOUN
economy-1236	304	4	is	be	AUX
economy-1236	304	5	that	that	SCONJ
economy-1236	304	6	the	the	DET
economy-1236	304	7	age	age	NOUN
economy-1236	304	8	of	of	ADP
economy-1236	304	9	the	the	DET
economy-1236	304	10	company	company	NOUN
economy-1236	304	11	can	can	AUX
economy-1236	304	12	increase	increase	VERB
economy-1236	304	13	the	the	DET
economy-1236	304	14	debt	debt	NOUN
economy-1236	304	15	ratio	ratio	NOUN
economy-1236	304	16	(	(	PUNCT
economy-1236	304	17	β=-23,619	β=-23,619	PROPN
economy-1236	304	18	,	,	PUNCT
economy-1236	304	19	p=0.999).this	p=0.999).this	PROPN
economy-1236	304	20	is	be	AUX
economy-1236	304	21	justified	justify	VERB
economy-1236	304	22	by	by	ADP
economy-1236	304	23	the	the	DET
economy-1236	304	24	fact	fact	NOUN
economy-1236	304	25	that	that	SCONJ
economy-1236	304	26	mature	mature	ADJ
economy-1236	304	27	firms	firm	NOUN
economy-1236	304	28	have	have	AUX
economy-1236	304	29	more	more	ADJ
economy-1236	304	30	experience	experience	NOUN
economy-1236	304	31	with	with	ADP
economy-1236	304	32	the	the	DET
economy-1236	304	33	adverse	adverse	ADJ
economy-1236	304	34	effects	effect	NOUN
economy-1236	304	35	of	of	ADP
economy-1236	304	36	debt	debt	NOUN
economy-1236	304	37	.	.	PUNCT
economy-1236	305	1	they	they	PRON
economy-1236	305	2	are	be	AUX
economy-1236	305	3	therefore	therefore	ADV
economy-1236	305	4	more	more	ADV
economy-1236	305	5	attentive	attentive	ADJ
economy-1236	305	6	in	in	ADP
economy-1236	305	7	their	their	PRON
economy-1236	305	8	preferences	preference	NOUN
economy-1236	305	9	for	for	ADP
economy-1236	305	10	debt	debt	NOUN
economy-1236	305	11	.	.	PUNCT
economy-1236	306	1	the	the	DET
economy-1236	306	2	correlation	correlation	NOUN
economy-1236	306	3	between	between	ADP
economy-1236	306	4	the	the	DET
economy-1236	306	5	debt	debt	NOUN
economy-1236	306	6	ratio	ratio	NOUN
economy-1236	306	7	and	and	CCONJ
economy-1236	306	8	ceo	ceo	NOUN
economy-1236	306	9	seniority	seniority	NOUN
economy-1236	306	10	is	be	AUX
economy-1236	306	11	positive	positive	ADJ
economy-1236	306	12	and	and	CCONJ
economy-1236	306	13	not	not	PART
economy-1236	306	14	significant	significant	ADJ
economy-1236	306	15	(	(	PUNCT
economy-1236	306	16	β	β	X
economy-1236	306	17	=	=	SYM
economy-1236	306	18	26.332	26.332	NUM
economy-1236	306	19	,	,	PUNCT
economy-1236	306	20	p	p	NOUN
economy-1236	306	21	=	=	NOUN
economy-1236	306	22	0.998).the	0.998).the	DET
economy-1236	306	23	seniority	seniority	NOUN
economy-1236	306	24	of	of	ADP
economy-1236	306	25	the	the	DET
economy-1236	306	26	leader	leader	NOUN
economy-1236	306	27	leads	lead	VERB
economy-1236	306	28	him	he	PRON
economy-1236	306	29	to	to	PART
economy-1236	306	30	maintain	maintain	VERB
economy-1236	306	31	relations	relation	NOUN
economy-1236	306	32	with	with	ADP
economy-1236	306	33	the	the	DET
economy-1236	306	34	market	market	NOUN
economy-1236	306	35	.	.	PUNCT
economy-1236	307	1	these	these	DET
economy-1236	307	2	contacts	contact	NOUN
economy-1236	307	3	lead	lead	VERB
economy-1236	307	4	to	to	ADP
economy-1236	307	5	strong	strong	ADJ
economy-1236	307	6	links	link	NOUN
economy-1236	307	7	with	with	ADP
economy-1236	307	8	the	the	DET
economy-1236	307	9	lenders	lender	NOUN
economy-1236	307	10	so	so	SCONJ
economy-1236	307	11	the	the	DET
economy-1236	307	12	use	use	NOUN
economy-1236	307	13	of	of	ADP
economy-1236	307	14	debt	debt	NOUN
economy-1236	307	15	as	as	ADP
economy-1236	307	16	a	a	DET
economy-1236	307	17	means	means	NOUN
economy-1236	307	18	of	of	ADP
economy-1236	307	19	financing	financing	NOUN
economy-1236	307	20	will	will	AUX
economy-1236	307	21	be	be	AUX
economy-1236	307	22	easier	easy	ADJ
economy-1236	307	23	.	.	PUNCT
economy-1236	308	1	finally	finally	ADV
economy-1236	308	2	our	our	PRON
economy-1236	308	3	results	result	NOUN
economy-1236	308	4	indicate	indicate	VERB
economy-1236	308	5	a	a	DET
economy-1236	308	6	negative	negative	ADJ
economy-1236	308	7	and	and	CCONJ
economy-1236	308	8	significant	significant	ADJ
economy-1236	308	9	correlation	correlation	NOUN
economy-1236	308	10	between	between	ADP
economy-1236	308	11	the	the	DET
economy-1236	308	12	ceo	ceo	NOUN
economy-1236	308	13	financial	financial	ADJ
economy-1236	308	14	education	education	NOUN
economy-1236	308	15	and	and	CCONJ
economy-1236	308	16	firm	firm	ADJ
economy-1236	308	17	debt	debt	NOUN
economy-1236	308	18	level	level	NOUN
economy-1236	308	19	(	(	PUNCT
economy-1236	308	20	-3,445	-3,445	NOUN
economy-1236	308	21	,	,	PUNCT
economy-1236	308	22	0.003).the	0.003).the	DET
economy-1236	308	23	financial	financial	ADJ
economy-1236	308	24	education	education	NOUN
economy-1236	308	25	of	of	ADP
economy-1236	308	26	the	the	DET
economy-1236	308	27	leader	leader	NOUN
economy-1236	308	28	leads	lead	VERB
economy-1236	308	29	him	he	PRON
economy-1236	308	30	to	to	PART
economy-1236	308	31	make	make	VERB
economy-1236	308	32	rational	rational	ADJ
economy-1236	308	33	financial	financial	ADJ
economy-1236	308	34	decisions	decision	NOUN
economy-1236	308	35	including	include	VERB
economy-1236	308	36	the	the	DET
economy-1236	308	37	choice	choice	NOUN
economy-1236	308	38	of	of	ADP
economy-1236	308	39	a	a	DET
economy-1236	308	40	low	low	ADJ
economy-1236	308	41	level	level	NOUN
economy-1236	308	42	of	of	ADP
economy-1236	308	43	debt.this	debt.this	PROPN
economy-1236	308	44	manager	manager	NOUN
economy-1236	308	45	is	be	AUX
economy-1236	308	46	more	more	ADV
economy-1236	308	47	aware	aware	ADJ
economy-1236	308	48	of	of	ADP
economy-1236	308	49	the	the	DET
economy-1236	308	50	risk	risk	NOUN
economy-1236	308	51	of	of	ADP
economy-1236	308	52	bankruptcy	bankruptcy	NOUN
economy-1236	308	53	of	of	ADP
economy-1236	308	54	the	the	DET
economy-1236	308	55	company	company	NOUN
economy-1236	308	56	in	in	ADP
economy-1236	308	57	the	the	DET
economy-1236	308	58	case	case	NOUN
economy-1236	308	59	of	of	ADP
economy-1236	308	60	a	a	DET
economy-1236	308	61	high	high	ADJ
economy-1236	308	62	level	level	NOUN
economy-1236	308	63	of	of	ADP
economy-1236	308	64	debt	debt	NOUN
economy-1236	308	65	.	.	PUNCT
economy-1236	309	1	financial	financial	ADJ
economy-1236	309	2	education	education	NOUN
economy-1236	309	3	therefore	therefore	ADV
economy-1236	309	4	reduces	reduce	VERB
economy-1236	309	5	the	the	DET
economy-1236	309	6	negative	negative	ADJ
economy-1236	309	7	effects	effect	NOUN
economy-1236	309	8	of	of	ADP
economy-1236	309	9	optimism	optimism	NOUN
economy-1236	309	10	and	and	CCONJ
economy-1236	309	11	psychological	psychological	ADJ
economy-1236	309	12	bias	bias	NOUN
economy-1236	309	13	on	on	ADP
economy-1236	309	14	managerial	managerial	ADJ
economy-1236	309	15	decisions	decision	NOUN
economy-1236	309	16	.	.	PUNCT
economy-1236	310	1	5	5	X
economy-1236	310	2	.	.	X
economy-1236	310	3	conclusion	conclusion	NOUN
economy-1236	310	4	in	in	ADP
economy-1236	310	5	this	this	DET
economy-1236	310	6	article	article	NOUN
economy-1236	310	7	,	,	PUNCT
economy-1236	310	8	we	we	PRON
economy-1236	310	9	have	have	AUX
economy-1236	310	10	advanced	advance	VERB
economy-1236	310	11	an	an	DET
economy-1236	310	12	original	original	ADJ
economy-1236	310	13	essay	essay	NOUN
economy-1236	310	14	that	that	PRON
economy-1236	310	15	aims	aim	VERB
economy-1236	310	16	to	to	PART
economy-1236	310	17	discuss	discuss	VERB
economy-1236	310	18	the	the	DET
economy-1236	310	19	effect	effect	NOUN
economy-1236	310	20	of	of	ADP
economy-1236	310	21	managerial	managerial	ADJ
economy-1236	310	22	optimism	optimism	NOUN
economy-1236	310	23	and	and	CCONJ
economy-1236	310	24	board	board	NOUN
economy-1236	310	25	characteristics	characteristic	NOUN
economy-1236	310	26	on	on	ADP
economy-1236	310	27	the	the	PRON
economy-1236	310	28	on	on	ADP
economy-1236	310	29	funding	funding	NOUN
economy-1236	310	30	preferences	preference	NOUN
economy-1236	310	31	and	and	CCONJ
economy-1236	310	32	capital	capital	NOUN
economy-1236	310	33	structure	structure	NOUN
economy-1236	310	34	choice.starting	choice.starte	VERB
economy-1236	310	35	from	from	ADP
economy-1236	310	36	the	the	DET
economy-1236	310	37	role	role	NOUN
economy-1236	310	38	of	of	ADP
economy-1236	310	39	the	the	DET
economy-1236	310	40	introduction	introduction	NOUN
economy-1236	310	41	of	of	ADP
economy-1236	310	42	the	the	DET
economy-1236	310	43	behavioral	behavioral	ADJ
economy-1236	310	44	dimension	dimension	NOUN
economy-1236	310	45	in	in	ADP
economy-1236	310	46	the	the	DET
economy-1236	310	47	enrichment	enrichment	NOUN
economy-1236	310	48	of	of	ADP
economy-1236	310	49	the	the	DET
economy-1236	310	50	analyzes	analyze	NOUN
economy-1236	310	51	of	of	ADP
economy-1236	310	52	corporate	corporate	ADJ
economy-1236	310	53	governance	governance	NOUN
economy-1236	310	54	and	and	CCONJ
economy-1236	310	55	capital	capital	NOUN
economy-1236	310	56	structure	structure	NOUN
economy-1236	310	57	,	,	PUNCT
economy-1236	310	58	we	we	PRON
economy-1236	310	59	aim	aim	VERB
economy-1236	310	60	to	to	PART
economy-1236	310	61	note	note	VERB
economy-1236	310	62	the	the	DET
economy-1236	310	63	effects	effect	NOUN
economy-1236	310	64	of	of	ADP
economy-1236	310	65	optimism	optimism	NOUN
economy-1236	310	66	bias	bias	NOUN
economy-1236	310	67	on	on	ADP
economy-1236	310	68	the	the	DET
economy-1236	310	69	decisions	decision	NOUN
economy-1236	310	70	of	of	ADP
economy-1236	310	71	senior	senior	ADJ
economy-1236	310	72	managers	manager	NOUN
economy-1236	310	73	in	in	ADP
economy-1236	310	74	tunisia	tunisia	NOUN
economy-1236	310	75	companies	company	NOUN
economy-1236	310	76	,	,	PUNCT
economy-1236	310	77	this	this	DET
economy-1236	310	78	work	work	NOUN
economy-1236	310	79	has	have	AUX
economy-1236	310	80	attempted	attempt	VERB
economy-1236	310	81	to	to	PART
economy-1236	310	82	achieve	achieve	VERB
economy-1236	310	83	the	the	DET
economy-1236	310	84	following	following	ADJ
economy-1236	310	85	objectives	objective	NOUN
economy-1236	310	86	:	:	PUNCT
economy-1236	310	87			X
economy-1236	310	88	present	present	VERB
economy-1236	310	89	the	the	DET
economy-1236	310	90	notion	notion	NOUN
economy-1236	310	91	of	of	ADP
economy-1236	310	92	managerial	managerial	ADJ
economy-1236	310	93	optimism	optimism	NOUN
economy-1236	310	94	and	and	CCONJ
economy-1236	310	95	its	its	PRON
economy-1236	310	96	integration	integration	NOUN
economy-1236	310	97	into	into	ADP
economy-1236	310	98	the	the	DET
economy-1236	310	99	theory	theory	NOUN
economy-1236	310	100	of	of	ADP
economy-1236	310	101	corporate	corporate	ADJ
economy-1236	310	102	governance	governance	NOUN
economy-1236	310	103	and	and	CCONJ
economy-1236	310	104	the	the	DET
economy-1236	310	105	theory	theory	NOUN
economy-1236	310	106	of	of	ADP
economy-1236	310	107	capital	capital	NOUN
economy-1236	310	108	structure	structure	NOUN
economy-1236	310	109	.	.	PUNCT
economy-1236	311	1			X
economy-1236	312	1	studying	study	VERB
economy-1236	312	2	the	the	DET
economy-1236	312	3	impact	impact	NOUN
economy-1236	312	4	that	that	PRON
economy-1236	312	5	executive	executive	ADJ
economy-1236	312	6	optimism	optimism	NOUN
economy-1236	312	7	would	would	AUX
economy-1236	312	8	have	have	VERB
economy-1236	312	9	,	,	PUNCT
economy-1236	312	10	directly	directly	ADV
economy-1236	312	11	or	or	CCONJ
economy-1236	312	12	indirectly	indirectly	ADV
economy-1236	312	13	,	,	PUNCT
economy-1236	312	14	on	on	ADP
economy-1236	312	15	board	board	NOUN
economy-1236	312	16	control	control	NOUN
economy-1236	312	17	effectiveness	effectiveness	NOUN
economy-1236	312	18	and	and	CCONJ
economy-1236	312	19	consequently	consequently	ADV
economy-1236	312	20	on	on	ADP
economy-1236	312	21	the	the	DET
economy-1236	312	22	debt	debt	NOUN
economy-1236	312	23	decision	decision	NOUN
economy-1236	312	24	.	.	PUNCT
economy-1236	313	1			PRON
economy-1236	313	2	verify	verify	VERB
economy-1236	313	3	the	the	DET
economy-1236	313	4	presence	presence	NOUN
economy-1236	313	5	of	of	ADP
economy-1236	313	6	a	a	DET
economy-1236	313	7	relationship	relationship	NOUN
economy-1236	313	8	between	between	ADP
economy-1236	313	9	the	the	DET
economy-1236	313	10	optimism	optimism	NOUN
economy-1236	313	11	bias	bias	NOUN
economy-1236	313	12	of	of	ADP
economy-1236	313	13	the	the	DET
economy-1236	313	14	leader	leader	NOUN
economy-1236	313	15	,	,	PUNCT
economy-1236	313	16	the	the	DET
economy-1236	313	17	board	board	NOUN
economy-1236	313	18	of	of	ADP
economy-1236	313	19	directors	director	NOUN
economy-1236	313	20	and	and	CCONJ
economy-1236	313	21	the	the	DET
economy-1236	313	22	debt	debt	NOUN
economy-1236	313	23	level	level	NOUN
economy-1236	313	24	.	.	PUNCT
economy-1236	314	1	the	the	DET
economy-1236	314	2	theoretical	theoretical	ADJ
economy-1236	314	3	analysis	analysis	NOUN
economy-1236	314	4	presented	present	VERB
economy-1236	314	5	argues	argue	VERB
economy-1236	314	6	in	in	ADP
economy-1236	314	7	favor	favor	NOUN
economy-1236	314	8	of	of	ADP
economy-1236	314	9	the	the	DET
economy-1236	314	10	direct	direct	ADJ
economy-1236	314	11	impact	impact	NOUN
economy-1236	314	12	of	of	ADP
economy-1236	314	13	ceo	ceo	NOUN
economy-1236	314	14	optimism	optimism	NOUN
economy-1236	314	15	on	on	ADP
economy-1236	314	16	the	the	DET
economy-1236	314	17	effectiveness	effectiveness	NOUN
economy-1236	314	18	of	of	ADP
economy-1236	314	19	control	control	NOUN
economy-1236	314	20	exercised	exercise	VERB
economy-1236	314	21	by	by	ADP
economy-1236	314	22	the	the	DET
economy-1236	314	23	board	board	NOUN
economy-1236	314	24	of	of	ADP
economy-1236	314	25	directors	director	NOUN
economy-1236	314	26	and	and	CCONJ
economy-1236	314	27	subsequently	subsequently	ADV
economy-1236	314	28	on	on	ADP
economy-1236	314	29	the	the	DET
economy-1236	314	30	debt	debt	NOUN
economy-1236	314	31	decision	decision	NOUN
economy-1236	314	32	.	.	PUNCT
economy-1236	315	1	even	even	ADV
economy-1236	315	2	more	more	ADV
economy-1236	315	3	we	we	PRON
economy-1236	315	4	have	have	AUX
economy-1236	315	5	presented	present	VERB
economy-1236	315	6	other	other	ADJ
economy-1236	315	7	actors	actor	NOUN
economy-1236	315	8	who	who	PRON
economy-1236	315	9	can	can	AUX
economy-1236	315	10	affect	affect	VERB
economy-1236	315	11	the	the	DET
economy-1236	315	12	bias	bias	NOUN
economy-1236	315	13	of	of	ADP
economy-1236	315	14	optimism	optimism	NOUN
economy-1236	315	15	and	and	CCONJ
economy-1236	315	16	the	the	DET
economy-1236	315	17	decision	decision	NOUN
economy-1236	315	18	of	of	ADP
economy-1236	315	19	indebtedness	indebtedness	NOUN
economy-1236	315	20	.	.	PUNCT
economy-1236	316	1	these	these	DET
economy-1236	316	2	actors	actor	NOUN
economy-1236	316	3	are	be	AUX
economy-1236	316	4	the	the	DET
economy-1236	316	5	characteristics	characteristic	NOUN
economy-1236	316	6	of	of	ADP
economy-1236	316	7	the	the	DET
economy-1236	316	8	company	company	NOUN
economy-1236	316	9	(	(	PUNCT
economy-1236	316	10	size	size	NOUN
economy-1236	316	11	and	and	CCONJ
economy-1236	316	12	age	age	NOUN
economy-1236	316	13	)	)	PUNCT
economy-1236	316	14	and	and	CCONJ
economy-1236	316	15	the	the	DET
economy-1236	316	16	characteristics	characteristic	NOUN
economy-1236	316	17	of	of	ADP
economy-1236	316	18	the	the	DET
economy-1236	316	19	leader	leader	NOUN
economy-1236	316	20	(	(	PUNCT
economy-1236	316	21	seniority	seniority	NOUN
economy-1236	316	22	and	and	CCONJ
economy-1236	316	23	education	education	NOUN
economy-1236	316	24	)	)	PUNCT
economy-1236	316	25	.	.	PUNCT
economy-1236	317	1	the	the	DET
economy-1236	317	2	empirical	empirical	ADJ
economy-1236	317	3	part	part	NOUN
economy-1236	317	4	attempted	attempt	VERB
economy-1236	317	5	to	to	PART
economy-1236	317	6	fill	fill	VERB
economy-1236	317	7	a	a	DET
economy-1236	317	8	deficit	deficit	NOUN
economy-1236	317	9	in	in	ADP
economy-1236	317	10	research	research	NOUN
economy-1236	317	11	in	in	ADP
economy-1236	317	12	behavioral	behavioral	ADJ
economy-1236	317	13	finance	finance	NOUN
economy-1236	317	14	,	,	PUNCT
economy-1236	317	15	by	by	ADP
economy-1236	317	16	presenting	present	VERB
economy-1236	317	17	a	a	DET
economy-1236	317	18	survey	survey	NOUN
economy-1236	317	19	on	on	ADP
economy-1236	317	20	the	the	DET
economy-1236	317	21	executives	executive	NOUN
economy-1236	317	22	of	of	ADP
economy-1236	317	23	large	large	ADJ
economy-1236	317	24	private	private	ADJ
economy-1236	317	25	companies	company	NOUN
economy-1236	317	26	in	in	ADP
economy-1236	317	27	tunisia	tunisia	PROPN
economy-1236	317	28	.	.	PUNCT
economy-1236	318	1	the	the	DET
economy-1236	318	2	analyzes	analyze	NOUN
economy-1236	318	3	of	of	ADP
economy-1236	318	4	the	the	DET
economy-1236	318	5	data	datum	NOUN
economy-1236	318	6	collected	collect	VERB
economy-1236	318	7	revealed	reveal	VERB
economy-1236	318	8	the	the	DET
economy-1236	318	9	importance	importance	NOUN
economy-1236	318	10	of	of	ADP
economy-1236	318	11	leadership	leadership	NOUN
economy-1236	318	12	optimism	optimism	NOUN
economy-1236	318	13	in	in	ADP
economy-1236	318	14	the	the	DET
economy-1236	318	15	debt	debt	NOUN
economy-1236	318	16	decision	decision	NOUN
economy-1236	318	17	.	.	PUNCT
economy-1236	319	1	the	the	DET
economy-1236	319	2	empirical	empirical	ADJ
economy-1236	319	3	analysis	analysis	NOUN
economy-1236	319	4	of	of	ADP
economy-1236	319	5	the	the	DET
economy-1236	319	6	relationship	relationship	NOUN
economy-1236	319	7	of	of	ADP
economy-1236	319	8	managerial	managerial	ADJ
economy-1236	319	9	optimism	optimism	NOUN
economy-1236	319	10	with	with	ADP
economy-1236	319	11	the	the	DET
economy-1236	319	12	board	board	NOUN
economy-1236	319	13	of	of	ADP
economy-1236	319	14	directors	director	NOUN
economy-1236	319	15	(	(	PUNCT
economy-1236	319	16	size	size	NOUN
economy-1236	319	17	of	of	ADP
economy-1236	319	18	board	board	NOUN
economy-1236	319	19	,	,	PUNCT
economy-1236	319	20	presence	presence	NOUN
economy-1236	319	21	of	of	ADP
economy-1236	319	22	external	external	ADJ
economy-1236	319	23	and	and	CCONJ
economy-1236	319	24	cumulative	cumulative	ADJ
economy-1236	319	25	functions	function	NOUN
economy-1236	319	26	)	)	PUNCT
economy-1236	319	27	and	and	CCONJ
economy-1236	319	28	the	the	DET
economy-1236	319	29	decision	decision	NOUN
economy-1236	319	30	of	of	ADP
economy-1236	319	31	financing	financing	NOUN
economy-1236	319	32	by	by	ADP
economy-1236	319	33	debt	debt	NOUN
economy-1236	319	34	shows	show	VERB
economy-1236	319	35	different	different	ADJ
economy-1236	319	36	results	result	NOUN
economy-1236	319	37	.	.	PUNCT
economy-1236	320	1	in	in	ADP
economy-1236	320	2	general	general	ADJ
economy-1236	320	3	,	,	PUNCT
economy-1236	320	4	there	there	PRON
economy-1236	320	5	is	be	VERB
economy-1236	320	6	a	a	DET
economy-1236	320	7	positive	positive	ADJ
economy-1236	320	8	impact	impact	NOUN
economy-1236	320	9	of	of	ADP
economy-1236	320	10	managerial	managerial	ADJ
economy-1236	320	11	optimism	optimism	NOUN
economy-1236	320	12	on	on	ADP
economy-1236	320	13	the	the	DET
economy-1236	320	14	level	level	NOUN
economy-1236	320	15	of	of	ADP
economy-1236	320	16	debt	debt	NOUN
economy-1236	320	17	of	of	ADP
economy-1236	320	18	tunisian	tunisian	ADJ
economy-1236	320	19	companies	company	NOUN
economy-1236	320	20	.	.	PUNCT
economy-1236	321	1	our	our	PRON
economy-1236	321	2	analyzes	analyze	NOUN
economy-1236	321	3	revealed	reveal	VERB
economy-1236	321	4	the	the	DET
economy-1236	321	5	importance	importance	NOUN
economy-1236	321	6	of	of	ADP
economy-1236	321	7	ceo	ceo	NOUN
economy-1236	321	8	optimism	optimism	NOUN
economy-1236	321	9	in	in	ADP
economy-1236	321	10	the	the	DET
economy-1236	321	11	debt	debt	NOUN
economy-1236	321	12	decision.it	decision.it	PRON
economy-1236	321	13	has	have	AUX
economy-1236	321	14	been	be	AUX
economy-1236	321	15	found	find	VERB
economy-1236	321	16	that	that	SCONJ
economy-1236	321	17	an	an	DET
economy-1236	321	18	optimistic	optimistic	ADJ
economy-1236	321	19	leader	leader	NOUN
economy-1236	321	20	prefers	prefer	VERB
economy-1236	321	21	more	more	ADJ
economy-1236	321	22	debt	debt	NOUN
economy-1236	321	23	even	even	ADV
economy-1236	321	24	in	in	ADP
economy-1236	321	25	companies	company	NOUN
economy-1236	321	26	ruled	rule	VERB
economy-1236	321	27	by	by	ADP
economy-1236	321	28	independent	independent	ADJ
economy-1236	321	29	boards.on	boards.on	PROPN
economy-1236	321	30	the	the	DET
economy-1236	321	31	other	other	ADJ
economy-1236	321	32	hand	hand	NOUN
economy-1236	321	33	,	,	PUNCT
economy-1236	321	34	the	the	DET
economy-1236	321	35	results	result	NOUN
economy-1236	321	36	analyzing	analyze	VERB
economy-1236	321	37	the	the	DET
economy-1236	321	38	hypotheses	hypothesis	NOUN
economy-1236	321	39	2	2	NUM
economy-1236	321	40	and	and	CCONJ
economy-1236	321	41	3	3	NUM
economy-1236	321	42	regarding	regard	VERB
economy-1236	321	43	the	the	DET
economy-1236	321	44	size	size	NOUN
economy-1236	321	45	of	of	ADP
economy-1236	321	46	the	the	DET
economy-1236	321	47	board	board	NOUN
economy-1236	321	48	and	and	CCONJ
economy-1236	321	49	the	the	DET
economy-1236	321	50	combination	combination	NOUN
economy-1236	321	51	of	of	ADP
economy-1236	321	52	ceo	ceo	NOUN
economy-1236	321	53	and	and	CCONJ
economy-1236	321	54	board	board	NOUN
economy-1236	321	55	economy	economy	NOUN
economy-1236	321	56	,	,	PUNCT
economy-1236	321	57	2019	2019	NUM
economy-1236	321	58	,	,	PUNCT
economy-1236	321	59	6(2	6(2	NUM
economy-1236	321	60	):	):	PUNCT
economy-1236	321	61	82	82	NUM
economy-1236	321	62	-	-	SYM
economy-1236	321	63	91	91	NUM
economy-1236	321	64	90	90	NUM
economy-1236	321	65	©	©	PROPN
economy-1236	321	66	2019	2019	NUM
economy-1236	321	67	by	by	ADP
economy-1236	321	68	the	the	DET
economy-1236	321	69	authors	author	NOUN
economy-1236	321	70	;	;	PUNCT
economy-1236	321	71	licensee	licensee	PROPN
economy-1236	321	72	asian	asian	ADJ
economy-1236	321	73	online	online	PROPN
economy-1236	321	74	journal	journal	PROPN
economy-1236	321	75	publishing	publishing	PROPN
economy-1236	321	76	group	group	NOUN
economy-1236	321	77	chair	chair	NOUN
economy-1236	321	78	does	do	AUX
economy-1236	321	79	not	not	PART
economy-1236	321	80	confirm	confirm	VERB
economy-1236	321	81	our	our	PRON
economy-1236	321	82	theoretical	theoretical	ADJ
economy-1236	321	83	analysis	analysis	NOUN
economy-1236	321	84	.	.	PUNCT
economy-1236	322	1	this	this	PRON
economy-1236	322	2	affirms	affirm	VERB
economy-1236	322	3	the	the	DET
economy-1236	322	4	complementary	complementary	ADJ
economy-1236	322	5	relationship	relationship	NOUN
economy-1236	322	6	between	between	ADP
economy-1236	322	7	our	our	PRON
economy-1236	322	8	three	three	NUM
economy-1236	322	9	notions	notion	NOUN
economy-1236	322	10	.	.	PUNCT
economy-1236	323	1	our	our	PRON
economy-1236	323	2	research	research	NOUN
economy-1236	323	3	is	be	AUX
economy-1236	323	4	only	only	ADV
economy-1236	323	5	an	an	DET
economy-1236	323	6	attempt	attempt	NOUN
economy-1236	323	7	to	to	PART
economy-1236	323	8	focus	focus	VERB
economy-1236	323	9	the	the	DET
economy-1236	323	10	spotlight	spotlight	NOUN
economy-1236	323	11	on	on	ADP
economy-1236	323	12	the	the	DET
economy-1236	323	13	effects	effect	NOUN
economy-1236	323	14	of	of	ADP
economy-1236	323	15	the	the	DET
economy-1236	323	16	behavior	behavior	NOUN
economy-1236	323	17	of	of	ADP
economy-1236	323	18	executives	executive	NOUN
economy-1236	323	19	of	of	ADP
economy-1236	323	20	tunisian	tunisian	ADJ
economy-1236	323	21	companies	company	NOUN
economy-1236	323	22	on	on	ADP
economy-1236	323	23	the	the	DET
economy-1236	323	24	efficiency	efficiency	NOUN
economy-1236	323	25	of	of	ADP
economy-1236	323	26	board	board	NOUN
economy-1236	323	27	control	control	NOUN
economy-1236	323	28	and	and	CCONJ
economy-1236	323	29	on	on	ADP
economy-1236	323	30	the	the	DET
economy-1236	323	31	choice	choice	NOUN
economy-1236	323	32	of	of	ADP
economy-1236	323	33	means	mean	NOUN
economy-1236	323	34	of	of	ADP
economy-1236	323	35	financing	financing	NOUN
economy-1236	323	36	.	.	PUNCT
economy-1236	324	1	so	so	ADV
economy-1236	324	2	it	it	PRON
economy-1236	324	3	is	be	AUX
economy-1236	324	4	necessary	necessary	ADJ
economy-1236	324	5	to	to	PART
economy-1236	324	6	present	present	VERB
economy-1236	324	7	the	the	DET
economy-1236	324	8	following	follow	VERB
economy-1236	324	9	recommendations	recommendation	NOUN
economy-1236	324	10	to	to	ADP
economy-1236	324	11	tunisian	tunisian	ADJ
economy-1236	324	12	companies	company	NOUN
economy-1236	324	13	:	:	PUNCT
economy-1236	324	14			NOUN
economy-1236	324	15	apply	apply	VERB
economy-1236	324	16	psychological	psychological	ADJ
economy-1236	324	17	tests	test	NOUN
economy-1236	324	18	instead	instead	ADV
economy-1236	324	19	psycho	psycho	NOUN
economy-1236	324	20	-	-	PUNCT
economy-1236	324	21	technical	technical	ADJ
economy-1236	324	22	tests	test	NOUN
economy-1236	324	23	in	in	ADP
economy-1236	324	24	the	the	DET
economy-1236	324	25	selection	selection	NOUN
economy-1236	324	26	of	of	ADP
economy-1236	324	27	frames	frame	NOUN
economy-1236	324	28	to	to	PART
economy-1236	324	29	detect	detect	VERB
economy-1236	324	30	behavioral	behavioral	ADJ
economy-1236	324	31	kicks	kick	NOUN
economy-1236	324	32	.	.	PUNCT
economy-1236	325	1			NOUN
economy-1236	325	2	implementation	implementation	NOUN
economy-1236	325	3	of	of	ADP
economy-1236	325	4	emotional	emotional	ADJ
economy-1236	325	5	intelligence	intelligence	NOUN
economy-1236	325	6	training	training	NOUN
economy-1236	325	7	programs	program	NOUN
economy-1236	325	8	designed	design	VERB
economy-1236	325	9	to	to	PART
economy-1236	325	10	give	give	VERB
economy-1236	325	11	the	the	DET
economy-1236	325	12	leader	leader	NOUN
economy-1236	325	13	the	the	DET
economy-1236	325	14	ability	ability	NOUN
economy-1236	325	15	to	to	PART
economy-1236	325	16	understand	understand	VERB
economy-1236	325	17	and	and	CCONJ
economy-1236	325	18	control	control	VERB
economy-1236	325	19	his	his	PRON
economy-1236	325	20	emotions	emotion	NOUN
economy-1236	325	21	.	.	PUNCT
economy-1236	326	1	references	reference	NOUN
economy-1236	326	2	abor	abor	PROPN
economy-1236	326	3	,	,	PUNCT
economy-1236	326	4	j.	j.	PROPN
economy-1236	326	5	,	,	PUNCT
economy-1236	326	6	2007	2007	NUM
economy-1236	326	7	.	.	PUNCT
economy-1236	327	1	corporate	corporate	ADJ
economy-1236	327	2	governance	governance	NOUN
economy-1236	327	3	and	and	CCONJ
economy-1236	327	4	financing	financing	NOUN
economy-1236	327	5	decisions	decision	NOUN
economy-1236	327	6	of	of	ADP
economy-1236	327	7	ghanaian	ghanaian	ADJ
economy-1236	327	8	listed	list	VERB
economy-1236	327	9	firms	firm	NOUN
economy-1236	327	10	corporate	corporate	ADJ
economy-1236	327	11	governance	governance	NOUN
economy-1236	327	12	:	:	PUNCT
economy-1236	327	13	the	the	DET
economy-1236	327	14	international	international	ADJ
economy-1236	327	15	journal	journal	NOUN
economy-1236	327	16	of	of	ADP
economy-1236	327	17	business	business	NOUN
economy-1236	327	18	in	in	ADP
economy-1236	327	19	society	society	NOUN
economy-1236	327	20	,	,	PUNCT
economy-1236	327	21	7(1	7(1	NUM
economy-1236	327	22	):	):	PUNCT
economy-1236	327	23	83-92.available	83-92.available	NUM
economy-1236	327	24	at	at	ADP
economy-1236	327	25	:	:	PUNCT
economy-1236	327	26	https://doi.org/10.1108/14720700710727131	https://doi.org/10.1108/14720700710727131	X
economy-1236	327	27	.	.	PUNCT
economy-1236	328	1	adam	adam	PROPN
economy-1236	328	2	and	and	CCONJ
economy-1236	328	3	li	li	PROPN
economy-1236	328	4	,	,	PUNCT
economy-1236	328	5	2012	2012	NUM
economy-1236	328	6	.	.	PUNCT
economy-1236	329	1	the	the	DET
economy-1236	329	2	new	new	ADJ
economy-1236	329	3	corporate	corporate	ADJ
economy-1236	329	4	directors	director	NOUN
economy-1236	329	5	.	.	PUNCT
economy-1236	330	1	new	new	PROPN
economy-1236	330	2	york	york	PROPN
economy-1236	330	3	:	:	PUNCT
economy-1236	330	4	john	john	PROPN
economy-1236	330	5	wiley	wiley	PROPN
economy-1236	330	6	and	and	CCONJ
economy-1236	330	7	sons	son	NOUN
economy-1236	330	8	.	.	PUNCT
economy-1236	331	1	azouzi	azouzi	PROPN
economy-1236	331	2	,	,	PUNCT
economy-1236	331	3	m.a	m.a	PROPN
economy-1236	331	4	.	.	PROPN
economy-1236	331	5	and	and	CCONJ
economy-1236	331	6	a.	a.	PROPN
economy-1236	331	7	jarboui	jarboui	PROPN
economy-1236	331	8	,	,	PUNCT
economy-1236	331	9	2012	2012	NUM
economy-1236	331	10	.	.	PUNCT
economy-1236	332	1	ceo	ceo	NOUN
economy-1236	332	2	emotional	emotional	ADJ
economy-1236	332	3	bias	bias	NOUN
economy-1236	332	4	and	and	CCONJ
economy-1236	332	5	capital	capital	NOUN
economy-1236	332	6	structure	structure	NOUN
economy-1236	332	7	choice	choice	NOUN
economy-1236	332	8	.	.	PUNCT
economy-1236	333	1	bayesian	bayesian	NOUN
economy-1236	333	2	network	network	NOUN
economy-1236	333	3	method	method	NOUN
economy-1236	333	4	.	.	PUNCT
economy-1236	334	1	business	business	NOUN
economy-1236	334	2	excellence	excellence	PROPN
economy-1236	334	3	and	and	CCONJ
economy-1236	334	4	management	management	NOUN
economy-1236	334	5	,	,	PUNCT
economy-1236	334	6	2(2	2(2	NUM
economy-1236	334	7	):	):	PUNCT
economy-1236	334	8	47	47	NUM
economy-1236	334	9	-	-	SYM
economy-1236	334	10	70	70	NUM
economy-1236	334	11	.	.	PUNCT
economy-1236	335	1	azouzi	azouzi	PROPN
economy-1236	335	2	,	,	PUNCT
economy-1236	335	3	m.a	m.a	PROPN
economy-1236	335	4	.	.	PROPN
economy-1236	335	5	and	and	CCONJ
economy-1236	335	6	a.	a.	PROPN
economy-1236	335	7	jarboui	jarboui	PROPN
economy-1236	335	8	,	,	PUNCT
economy-1236	335	9	2014	2014	NUM
economy-1236	335	10	.	.	PUNCT
economy-1236	336	1	ceo	ceo	NOUN
economy-1236	336	2	emotional	emotional	ADJ
economy-1236	336	3	intelligence	intelligence	NOUN
economy-1236	336	4	and	and	CCONJ
economy-1236	336	5	firms	firm	NOUN
economy-1236	336	6	’	’	PART
economy-1236	336	7	financial	financial	ADJ
economy-1236	336	8	policies	policy	NOUN
economy-1236	336	9	.	.	PUNCT
economy-1236	337	1	bayesian	bayesian	NOUN
economy-1236	337	2	network	network	NOUN
economy-1236	337	3	method	method	NOUN
economy-1236	337	4	.	.	PUNCT
economy-1236	338	1	contemporary	contemporary	ADJ
economy-1236	338	2	economics	economic	NOUN
economy-1236	338	3	,	,	PUNCT
economy-1236	338	4	8(1	8(1	NOUN
economy-1236	338	5	):	):	PUNCT
economy-1236	338	6	5-24.available	5-24.available	NUM
economy-1236	338	7	at	at	ADP
economy-1236	338	8	:	:	PUNCT
economy-1236	338	9	https://doi.org/10.5709/ce.1897-9254.128	https://doi.org/10.5709/ce.1897-9254.128	NOUN
economy-1236	338	10	.	.	PUNCT
economy-1236	339	1	azouzi	azouzi	PROPN
economy-1236	339	2	,	,	PUNCT
economy-1236	339	3	m.a	m.a	PROPN
economy-1236	339	4	.	.	PROPN
economy-1236	339	5	and	and	CCONJ
economy-1236	339	6	a.	a.	PROPN
economy-1236	339	7	jarboui	jarboui	PROPN
economy-1236	339	8	,	,	PUNCT
economy-1236	339	9	2018	2018	NUM
economy-1236	339	10	.	.	PUNCT
economy-1236	340	1	ceo	ceo	NOUN
economy-1236	340	2	’s	’s	PART
economy-1236	340	3	emotional	emotional	ADJ
economy-1236	340	4	commitment	commitment	NOUN
economy-1236	340	5	level	level	NOUN
economy-1236	340	6	and	and	CCONJ
economy-1236	340	7	its	its	PRON
economy-1236	340	8	firm	firm	ADJ
economy-1236	340	9	capital	capital	NOUN
economy-1236	340	10	structure	structure	NOUN
economy-1236	340	11	choice	choice	NOUN
economy-1236	340	12	:	:	PUNCT
economy-1236	340	13	decision	decision	NOUN
economy-1236	340	14	tree	tree	NOUN
economy-1236	340	15	analysis	analysis	NOUN
economy-1236	340	16	.	.	PUNCT
economy-1236	341	1	asian	asian	ADJ
economy-1236	341	2	journal	journal	PROPN
economy-1236	341	3	of	of	ADP
economy-1236	341	4	economics	economic	NOUN
economy-1236	341	5	and	and	CCONJ
economy-1236	341	6	empirical	empirical	ADJ
economy-1236	341	7	research	research	NOUN
economy-1236	341	8	,	,	PUNCT
economy-1236	341	9	5(1	5(1	NUM
economy-1236	341	10	):	):	PUNCT
economy-1236	341	11	65-78.available	65-78.available	ADJ
economy-1236	341	12	at	at	ADP
economy-1236	341	13	:	:	PUNCT
economy-1236	341	14	https://doi.org/10.20448/journal.501.2018.51.65.78	https://doi.org/10.20448/journal.501.2018.51.65.78	PROPN
economy-1236	341	15	.	.	PUNCT
economy-1236	342	1	baker	baker	PROPN
economy-1236	342	2	,	,	PUNCT
economy-1236	342	3	m.	m.	NOUN
economy-1236	342	4	,	,	PUNCT
economy-1236	342	5	s.r	s.r	PROPN
economy-1236	342	6	.	.	PROPN
economy-1236	342	7	richard	richard	PROPN
economy-1236	342	8	and	and	CCONJ
economy-1236	342	9	j.	j.	PROPN
economy-1236	342	10	wurgler	wurgler	PROPN
economy-1236	342	11	,	,	PUNCT
economy-1236	342	12	2007	2007	NUM
economy-1236	342	13	.	.	PUNCT
economy-1236	343	1	behavioral	behavioral	ADJ
economy-1236	343	2	corporate	corporate	ADJ
economy-1236	343	3	finance	finance	NOUN
economy-1236	343	4	.	.	PUNCT
economy-1236	344	1	the	the	DET
economy-1236	344	2	handbook	handbook	NOUN
economy-1236	344	3	of	of	ADP
economy-1236	344	4	corporate	corporate	ADJ
economy-1236	344	5	finance	finance	NOUN
economy-1236	344	6	,	,	PUNCT
economy-1236	344	7	1	1	NUM
economy-1236	344	8	:	:	SYM
economy-1236	344	9	145-186.available	145-186.available	NUM
economy-1236	344	10	at	at	ADP
economy-1236	344	11	:	:	PUNCT
economy-1236	344	12	https://doi.org/10.1016/b978-0-444-53265-7.50018-4	https://doi.org/10.1016/b978-0-444-53265-7.50018-4	PROPN
economy-1236	344	13	.	.	PROPN
economy-1236	344	14	ball	ball	PROPN
economy-1236	344	15	,	,	PUNCT
economy-1236	344	16	r.	r.	PROPN
economy-1236	344	17	and	and	CCONJ
economy-1236	344	18	g.	g.	PROPN
economy-1236	344	19	foster	foster	PROPN
economy-1236	344	20	,	,	PUNCT
economy-1236	344	21	1982	1982	NUM
economy-1236	344	22	.	.	PUNCT
economy-1236	345	1	corporate	corporate	ADJ
economy-1236	345	2	financial	financial	ADJ
economy-1236	345	3	reporting	reporting	NOUN
economy-1236	345	4	:	:	PUNCT
economy-1236	345	5	a	a	DET
economy-1236	345	6	methodological	methodological	ADJ
economy-1236	345	7	review	review	NOUN
economy-1236	345	8	of	of	ADP
economy-1236	345	9	empirical	empirical	ADJ
economy-1236	345	10	research	research	NOUN
economy-1236	345	11	.	.	PUNCT
economy-1236	346	1	journal	journal	NOUN
economy-1236	346	2	of	of	ADP
economy-1236	346	3	accounting	accounting	NOUN
economy-1236	346	4	research	research	NOUN
economy-1236	346	5	,	,	PUNCT
economy-1236	346	6	20	20	NUM
economy-1236	346	7	:	:	SYM
economy-1236	346	8	161-234.available	161-234.available	NUM
economy-1236	346	9	at	at	ADP
economy-1236	346	10	:	:	PUNCT
economy-1236	346	11	https://doi.org/10.2307/2674682	https://doi.org/10.2307/2674682	ADV
economy-1236	346	12	.	.	PUNCT
economy-1236	347	1	ben	ben	PROPN
economy-1236	347	2	-	-	PUNCT
economy-1236	347	3	david	david	PROPN
economy-1236	347	4	,	,	PUNCT
economy-1236	347	5	i.	i.	PROPN
economy-1236	347	6	,	,	PUNCT
economy-1236	347	7	j.r	j.r	PROPN
economy-1236	347	8	.	.	PROPN
economy-1236	347	9	graham	graham	PROPN
economy-1236	347	10	and	and	CCONJ
economy-1236	347	11	c.r	c.r	PROPN
economy-1236	347	12	.	.	PROPN
economy-1236	347	13	harvey	harvey	PROPN
economy-1236	347	14	,	,	PUNCT
economy-1236	347	15	2010	2010	NUM
economy-1236	347	16	.	.	PUNCT
economy-1236	348	1	managerial	managerial	ADJ
economy-1236	348	2	miscalibration	miscalibration	PROPN
economy-1236	348	3	,	,	PUNCT
economy-1236	348	4	ssrn	ssrn	PROPN
economy-1236	348	5	working	work	VERB
economy-1236	348	6	paper	paper	NOUN
economy-1236	348	7	.	.	PUNCT
economy-1236	349	1	electronic	electronic	ADJ
economy-1236	349	2	copy	copy	NOUN
economy-1236	349	3	.	.	PUNCT
economy-1236	350	1	available	available	ADJ
economy-1236	350	2	from	from	ADP
economy-1236	350	3	http://ssm.com/abstract=1640552	http://ssm.com/abstract=1640552	PROPN
economy-1236	350	4	.	.	PUNCT
economy-1236	351	1	chang	chang	PROPN
economy-1236	351	2	,	,	PUNCT
economy-1236	351	3	c.	c.	PROPN
economy-1236	351	4	,	,	PUNCT
economy-1236	351	5	a.c	a.c	PROPN
economy-1236	351	6	.	.	PROPN
economy-1236	351	7	lee	lee	PROPN
economy-1236	351	8	and	and	CCONJ
economy-1236	351	9	c.f	c.f	PROPN
economy-1236	351	10	.	.	PROPN
economy-1236	351	11	lee	lee	PROPN
economy-1236	351	12	,	,	PUNCT
economy-1236	351	13	2009	2009	NUM
economy-1236	351	14	.	.	PUNCT
economy-1236	352	1	determinants	determinant	NOUN
economy-1236	352	2	of	of	ADP
economy-1236	352	3	capital	capital	NOUN
economy-1236	352	4	structure	structure	NOUN
economy-1236	352	5	choice	choice	NOUN
economy-1236	352	6	:	:	PUNCT
economy-1236	352	7	a	a	DET
economy-1236	352	8	structural	structural	ADJ
economy-1236	352	9	equation	equation	NOUN
economy-1236	352	10	modeling	modeling	NOUN
economy-1236	352	11	approach	approach	NOUN
economy-1236	352	12	.	.	PUNCT
economy-1236	353	1	the	the	DET
economy-1236	353	2	quarterly	quarterly	ADJ
economy-1236	353	3	review	review	NOUN
economy-1236	353	4	of	of	ADP
economy-1236	353	5	economics	economic	NOUN
economy-1236	353	6	and	and	CCONJ
economy-1236	353	7	finance	finance	NOUN
economy-1236	353	8	,	,	PUNCT
economy-1236	353	9	49(2	49(2	NUM
economy-1236	353	10	):	):	PUNCT
economy-1236	353	11	197-213.available	197-213.available	NUM
economy-1236	353	12	at	at	ADP
economy-1236	353	13	:	:	PUNCT
economy-1236	353	14	https://doi.org/10.1016/j.qref.2008.03.004	https://doi.org/10.1016/j.qref.2008.03.004	NOUN
economy-1236	353	15	.	.	PUNCT
economy-1236	354	1	chang	chang	PROPN
economy-1236	354	2	,	,	PUNCT
economy-1236	354	3	k.h	k.h	PROPN
economy-1236	354	4	.	.	PROPN
economy-1236	354	5	,	,	PUNCT
economy-1236	354	6	l.-h	l.-h	PROPN
economy-1236	354	7	.	.	PUNCT
economy-1236	355	1	wang	wang	PROPN
economy-1236	355	2	and	and	CCONJ
economy-1236	355	3	h.-w	h.-w	PROPN
economy-1236	355	4	.	.	PUNCT
economy-1236	356	1	liu	liu	PROPN
economy-1236	356	2	,	,	PUNCT
economy-1236	356	3	2012	2012	NUM
economy-1236	356	4	.	.	PUNCT
economy-1236	357	1	corporate	corporate	ADJ
economy-1236	357	2	governance	governance	NOUN
economy-1236	357	3	and	and	CCONJ
economy-1236	357	4	capital	capital	NOUN
economy-1236	357	5	structure	structure	NOUN
economy-1236	357	6	:	:	PUNCT
economy-1236	357	7	evidence	evidence	NOUN
economy-1236	357	8	from	from	ADP
economy-1236	357	9	taiwan	taiwan	PROPN
economy-1236	357	10	smes	smes	PROPN
economy-1236	357	11	.	.	PUNCT
economy-1236	358	1	review	review	NOUN
economy-1236	358	2	of	of	ADP
economy-1236	358	3	economics	economics	PROPN
economy-1236	358	4	&	&	CCONJ
economy-1236	358	5	finance	finance	PROPN
economy-1236	358	6	,	,	PUNCT
economy-1236	358	7	2	2	NUM
economy-1236	358	8	:	:	SYM
economy-1236	358	9	43	43	NUM
economy-1236	358	10	-	-	SYM
economy-1236	358	11	58	58	NUM
economy-1236	358	12	.	.	PUNCT
economy-1236	359	1	coulton	coulton	PROPN
economy-1236	359	2	,	,	PUNCT
economy-1236	359	3	j.j	j.j	PROPN
economy-1236	359	4	.	.	PROPN
economy-1236	359	5	,	,	PUNCT
economy-1236	359	6	c.	c.	PROPN
economy-1236	359	7	james	james	PROPN
economy-1236	359	8	and	and	CCONJ
economy-1236	359	9	s.l	s.l	PROPN
economy-1236	359	10	.	.	PROPN
economy-1236	359	11	taylor	taylor	PROPN
economy-1236	359	12	,	,	PUNCT
economy-1236	359	13	2001	2001	NUM
economy-1236	359	14	.	.	PUNCT
economy-1236	360	1	the	the	DET
economy-1236	360	2	effect	effect	NOUN
economy-1236	360	3	of	of	ADP
economy-1236	360	4	compensation	compensation	NOUN
economy-1236	360	5	design	design	NOUN
economy-1236	360	6	and	and	CCONJ
economy-1236	360	7	corporate	corporate	ADJ
economy-1236	360	8	governance	governance	NOUN
economy-1236	360	9	on	on	ADP
economy-1236	360	10	the	the	DET
economy-1236	360	11	transparency	transparency	NOUN
economy-1236	360	12	of	of	ADP
economy-1236	360	13	ceo	ceo	NOUN
economy-1236	360	14	compensation	compensation	NOUN
economy-1236	360	15	disclosures	disclosure	NOUN
economy-1236	360	16	.	.	PUNCT
economy-1236	361	1	finance	finance	NOUN
economy-1236	361	2	control	control	NOUN
economy-1236	361	3	strategies	strategy	NOUN
economy-1236	361	4	,	,	PUNCT
economy-1236	361	5	1(2	1(2	NUM
economy-1236	361	6	):	):	PUNCT
economy-1236	361	7	57	57	NUM
economy-1236	361	8	-	-	SYM
economy-1236	361	9	88	88	NUM
economy-1236	361	10	.	.	PUNCT
economy-1236	362	1	dechow	dechow	ADJ
economy-1236	362	2	,	,	PUNCT
economy-1236	362	3	p.m.	p.m.	NOUN
economy-1236	362	4	,	,	PUNCT
economy-1236	362	5	r.g	r.g	PROPN
economy-1236	362	6	.	.	PROPN
economy-1236	362	7	sloan	sloan	PROPN
economy-1236	362	8	and	and	CCONJ
economy-1236	362	9	a.p	a.p	PROPN
economy-1236	362	10	.	.	PROPN
economy-1236	362	11	sweeney	sweeney	PROPN
economy-1236	362	12	,	,	PUNCT
economy-1236	362	13	1996	1996	NUM
economy-1236	362	14	.	.	PUNCT
economy-1236	363	1	causes	cause	NOUN
economy-1236	363	2	and	and	CCONJ
economy-1236	363	3	consequences	consequence	NOUN
economy-1236	363	4	of	of	ADP
economy-1236	363	5	earnings	earning	NOUN
economy-1236	363	6	manipulation	manipulation	NOUN
economy-1236	363	7	:	:	PUNCT
economy-1236	363	8	an	an	DET
economy-1236	363	9	analysis	analysis	NOUN
economy-1236	363	10	of	of	ADP
economy-1236	363	11	firms	firm	NOUN
economy-1236	363	12	subject	subject	ADJ
economy-1236	363	13	to	to	ADP
economy-1236	363	14	enforcement	enforcement	NOUN
economy-1236	363	15	actions	action	NOUN
economy-1236	363	16	by	by	ADP
economy-1236	363	17	the	the	DET
economy-1236	363	18	sec	sec	PROPN
economy-1236	363	19	.	.	PUNCT
economy-1236	364	1	contemporary	contemporary	ADJ
economy-1236	364	2	accounting	accounting	PROPN
economy-1236	364	3	research	research	NOUN
economy-1236	364	4	,	,	PUNCT
economy-1236	364	5	13(1	13(1	NUM
economy-1236	364	6	):	):	PUNCT
economy-1236	364	7	1-36.available	1-36.available	ADJ
economy-1236	364	8	at	at	ADP
economy-1236	364	9	:	:	PUNCT
economy-1236	364	10	https://doi.org/10.1111/j.19113846.1996.tb00489.x	https://doi.org/10.1111/j.19113846.1996.tb00489.x	PROPN
economy-1236	364	11	.	.	PUNCT
economy-1236	365	1	demaria	demaria	PROPN
economy-1236	365	2	,	,	PUNCT
economy-1236	365	3	s.	s.	PROPN
economy-1236	365	4	and	and	CCONJ
economy-1236	365	5	d.	d.	PROPN
economy-1236	365	6	dufour	dufour	PROPN
economy-1236	365	7	,	,	PUNCT
economy-1236	365	8	2007	2007	NUM
economy-1236	365	9	.	.	PUNCT
economy-1236	366	1	les	les	PROPN
economy-1236	366	2	choix	choix	PROPN
economy-1236	366	3	d'options	d'options	PROPN
economy-1236	366	4	comptables	comptable	VERB
economy-1236	366	5	lors	lors	X
economy-1236	366	6	de	de	X
economy-1236	366	7	la	la	X
economy-1236	366	8	transition	transition	PROPN
economy-1236	366	9	aux	aux	PROPN
economy-1236	366	10	normes	normes	PROPN
economy-1236	366	11	ias	ias	PROPN
economy-1236	366	12	/	/	SYM
economy-1236	366	13	ifrs	ifrs	PROPN
economy-1236	366	14	:	:	PUNCT
economy-1236	366	15	quel	quel	PROPN
economy-1236	366	16	rôle	rôle	PROPN
economy-1236	366	17	pour	pour	X
economy-1236	366	18	la	la	DET
economy-1236	366	19	prudence	prudence	NOUN
economy-1236	366	20	?	?	PUNCT
economy-1236	366	21	comptabilité	comptabilité	NOUN
economy-1236	366	22	-	-	PUNCT
economy-1236	366	23	contrôle	contrôle	NOUN
economy-1236	366	24	-	-	NOUN
economy-1236	366	25	audit	audit	NOUN
economy-1236	366	26	,	,	PUNCT
economy-1236	366	27	13(3	13(3	NUM
economy-1236	366	28	):	):	PUNCT
economy-1236	366	29	195-218.available	195-218.available	NUM
economy-1236	366	30	at	at	ADP
economy-1236	366	31	:	:	PUNCT
economy-1236	366	32	https://doi.org/10.3917/cca.133.0195	https://doi.org/10.3917/cca.133.0195	PROPN
economy-1236	366	33	.	.	PROPN
economy-1236	366	34	dufour	dufour	PROPN
economy-1236	366	35	,	,	PUNCT
economy-1236	366	36	d.	d.	PROPN
economy-1236	366	37	and	and	CCONJ
economy-1236	366	38	e.	e.	PROPN
economy-1236	366	39	molay	molay	PROPN
economy-1236	366	40	,	,	PUNCT
economy-1236	366	41	2010	2010	NUM
economy-1236	366	42	.	.	PUNCT
economy-1236	367	1	the	the	DET
economy-1236	367	2	financial	financial	ADJ
economy-1236	367	3	structure	structure	NOUN
economy-1236	367	4	of	of	ADP
economy-1236	367	5	french	french	ADJ
economy-1236	367	6	smes	sme	NOUN
economy-1236	367	7	:	:	PUNCT
economy-1236	367	8	a	a	DET
economy-1236	367	9	sectorial	sectorial	ADJ
economy-1236	367	10	analysis	analysis	NOUN
economy-1236	367	11	on	on	ADP
economy-1236	367	12	panel	panel	NOUN
economy-1236	367	13	data	datum	NOUN
economy-1236	367	14	.	.	PUNCT
economy-1236	368	1	author	author	PROPN
economy-1236	368	2	's	's	PART
economy-1236	368	3	manuscript	manuscript	NOUN
economy-1236	368	4	,	,	PUNCT
economy-1236	368	5	published	publish	VERB
economy-1236	368	6	in	in	ADP
economy-1236	368	7	crises	crisis	NOUN
economy-1236	368	8	and	and	CCONJ
economy-1236	368	9	problematic	problematic	ADJ
economy-1236	368	10	news	news	NOUN
economy-1236	368	11	of	of	ADP
economy-1236	368	12	value	value	NOUN
economy-1236	368	13	,	,	PUNCT
economy-1236	368	14	nice	nice	ADJ
economy-1236	368	15	,	,	PUNCT
economy-1236	368	16	hal-00479529	hal-00479529	NOUN
economy-1236	368	17	,	,	PUNCT
economy-1236	368	18	version1	version1	ADJ
economy-1236	368	19	,	,	PUNCT
economy-1236	368	20	new	new	ADJ
economy-1236	368	21	issues	issue	NOUN
economy-1236	368	22	of	of	ADP
economy-1236	368	23	value	value	NOUN
economy-1236	368	24	.	.	PUNCT
economy-1236	369	1	nice	nice	ADJ
economy-1236	369	2	:	:	PUNCT
economy-1236	369	3	31st	31st	ADJ
economy-1236	369	4	congress	congress	PROPN
economy-1236	369	5	of	of	ADP
economy-1236	369	6	the	the	DET
economy-1236	369	7	francophone	francophone	PROPN
economy-1236	369	8	accounting	accounting	PROPN
economy-1236	369	9	association	association	PROPN
economy-1236	369	10	2010	2010	NUM
economy-1236	369	11	.	.	PUNCT
economy-1236	370	1	pp	pp	CCONJ
economy-1236	370	2	:	:	PUNCT
economy-1236	370	3	1	1	NUM
economy-1236	370	4	-	-	SYM
economy-1236	370	5	18	18	NUM
economy-1236	370	6	.	.	PUNCT
economy-1236	371	1	fairchild	fairchild	PROPN
economy-1236	371	2	,	,	PUNCT
economy-1236	371	3	r.	r.	PROPN
economy-1236	371	4	,	,	PUNCT
economy-1236	371	5	2005	2005	NUM
economy-1236	371	6	.	.	PUNCT
economy-1236	372	1	the	the	DET
economy-1236	372	2	effect	effect	NOUN
economy-1236	372	3	of	of	ADP
economy-1236	372	4	managerial	managerial	ADJ
economy-1236	372	5	overconfidence	overconfidence	NOUN
economy-1236	372	6	,	,	PUNCT
economy-1236	372	7	asymmetric	asymmetric	ADJ
economy-1236	372	8	information	information	NOUN
economy-1236	372	9	,	,	PUNCT
economy-1236	372	10	and	and	CCONJ
economy-1236	372	11	moral	moral	ADJ
economy-1236	372	12	hazard	hazard	NOUN
economy-1236	372	13	on	on	ADP
economy-1236	372	14	capital	capital	NOUN
economy-1236	372	15	structure	structure	NOUN
economy-1236	372	16	decision	decision	NOUN
economy-1236	372	17	.	.	PUNCT
economy-1236	373	1	icfai	icfai	NOUN
economy-1236	373	2	j	j	PROPN
economy-1236	373	3	behav	behav	PROPN
economy-1236	373	4	finance	finance	PROPN
economy-1236	373	5	,	,	PUNCT
economy-1236	373	6	2(4	2(4	NUM
economy-1236	373	7	):	):	PUNCT
economy-1236	373	8	46–68	46–68	PROPN
economy-1236	373	9	.	.	PUNCT
economy-1236	374	1	fama	fama	PROPN
economy-1236	374	2	,	,	PUNCT
economy-1236	374	3	e.f	e.f	PROPN
economy-1236	374	4	.	.	PROPN
economy-1236	374	5	and	and	CCONJ
economy-1236	374	6	m.c	m.c	PROPN
economy-1236	374	7	.	.	PROPN
economy-1236	374	8	jensen	jensen	PROPN
economy-1236	374	9	,	,	PUNCT
economy-1236	374	10	1983	1983	NUM
economy-1236	374	11	.	.	PUNCT
economy-1236	375	1	agency	agency	NOUN
economy-1236	375	2	problems	problem	NOUN
economy-1236	375	3	and	and	CCONJ
economy-1236	375	4	residual	residual	ADJ
economy-1236	375	5	claims	claim	NOUN
economy-1236	375	6	.	.	PUNCT
economy-1236	376	1	the	the	DET
economy-1236	376	2	journal	journal	NOUN
economy-1236	376	3	of	of	ADP
economy-1236	376	4	law	law	NOUN
economy-1236	376	5	and	and	CCONJ
economy-1236	376	6	economics	economic	NOUN
economy-1236	376	7	,	,	PUNCT
economy-1236	376	8	26(2	26(2	NUM
economy-1236	376	9	):	):	PUNCT
economy-1236	376	10	327-349.available	327-349.available	NUM
economy-1236	376	11	at	at	ADP
economy-1236	376	12	:	:	PUNCT
economy-1236	376	13	https://doi.org/10.1086/467038	https://doi.org/10.1086/467038	PROPN
economy-1236	376	14	.	.	PUNCT
economy-1236	377	1	fama	fama	PROPN
economy-1236	377	2	,	,	PUNCT
economy-1236	377	3	e.f	e.f	PROPN
economy-1236	377	4	.	.	PROPN
economy-1236	377	5	and	and	CCONJ
economy-1236	377	6	m.c	m.c	PROPN
economy-1236	377	7	.	.	PROPN
economy-1236	377	8	jensen	jensen	PROPN
economy-1236	377	9	,	,	PUNCT
economy-1236	377	10	1983	1983	NUM
economy-1236	377	11	.	.	PUNCT
economy-1236	378	1	separation	separation	NOUN
economy-1236	378	2	of	of	ADP
economy-1236	378	3	ownership	ownership	NOUN
economy-1236	378	4	and	and	CCONJ
economy-1236	378	5	control	control	NOUN
economy-1236	378	6	.	.	PUNCT
economy-1236	379	1	the	the	DET
economy-1236	379	2	journal	journal	NOUN
economy-1236	379	3	of	of	ADP
economy-1236	379	4	law	law	NOUN
economy-1236	379	5	and	and	CCONJ
economy-1236	379	6	economics	economic	NOUN
economy-1236	379	7	,	,	PUNCT
economy-1236	379	8	26(2	26(2	NUM
economy-1236	379	9	):	):	PUNCT
economy-1236	379	10	301	301	NUM
economy-1236	379	11	-	-	SYM
economy-1236	379	12	325	325	NUM
economy-1236	379	13	.	.	PUNCT
economy-1236	380	1	fauzi	fauzi	PROPN
economy-1236	380	2	,	,	PUNCT
economy-1236	380	3	f.	f.	PROPN
economy-1236	380	4	and	and	CCONJ
economy-1236	380	5	s.	s.	PROPN
economy-1236	380	6	locke	locke	PROPN
economy-1236	380	7	,	,	PUNCT
economy-1236	380	8	2012	2012	NUM
economy-1236	380	9	.	.	PUNCT
economy-1236	381	1	board	board	NOUN
economy-1236	381	2	structure	structure	NOUN
economy-1236	381	3	,	,	PUNCT
economy-1236	381	4	ownership	ownership	NOUN
economy-1236	381	5	structure	structure	NOUN
economy-1236	381	6	and	and	CCONJ
economy-1236	381	7	firm	firm	ADJ
economy-1236	381	8	performance	performance	NOUN
economy-1236	381	9	:	:	PUNCT
economy-1236	381	10	a	a	DET
economy-1236	381	11	study	study	NOUN
economy-1236	381	12	of	of	ADP
economy-1236	381	13	new	new	PROPN
economy-1236	381	14	zealand	zealand	PROPN
economy-1236	381	15	listed	list	VERB
economy-1236	381	16	-	-	PUNCT
economy-1236	381	17	firms	firm	NOUN
economy-1236	381	18	.	.	PUNCT
economy-1236	382	1	asian	asian	PROPN
economy-1236	382	2	academy	academy	PROPN
economy-1236	382	3	of	of	ADP
economy-1236	382	4	management	management	PROPN
economy-1236	382	5	journal	journal	PROPN
economy-1236	382	6	of	of	ADP
economy-1236	382	7	accounting	accounting	NOUN
economy-1236	382	8	of	of	ADP
economy-1236	382	9	finance	finance	NOUN
economy-1236	382	10	,	,	PUNCT
economy-1236	382	11	8(2	8(2	NUM
economy-1236	382	12	):	):	PUNCT
economy-1236	382	13	43	43	NUM
economy-1236	382	14	-	-	SYM
economy-1236	382	15	67	67	NUM
economy-1236	382	16	.	.	PUNCT
economy-1236	383	1	forker	forker	PROPN
economy-1236	383	2	,	,	PUNCT
economy-1236	383	3	j.j	j.j	PROPN
economy-1236	383	4	.	.	PROPN
economy-1236	383	5	,	,	PUNCT
economy-1236	383	6	1992	1992	NUM
economy-1236	383	7	.	.	PUNCT
economy-1236	384	1	corporate	corporate	ADJ
economy-1236	384	2	governance	governance	NOUN
economy-1236	384	3	and	and	CCONJ
economy-1236	384	4	disclosure	disclosure	NOUN
economy-1236	384	5	quality	quality	NOUN
economy-1236	384	6	.	.	PUNCT
economy-1236	385	1	accounting	accounting	NOUN
economy-1236	385	2	and	and	CCONJ
economy-1236	385	3	business	business	NOUN
economy-1236	385	4	research	research	NOUN
economy-1236	385	5	,	,	PUNCT
economy-1236	385	6	22(86	22(86	NUM
economy-1236	385	7	):	):	PUNCT
economy-1236	385	8	111	111	NUM
economy-1236	385	9	-	-	SYM
economy-1236	385	10	124	124	NUM
economy-1236	385	11	.	.	PUNCT
economy-1236	386	1	frank	frank	PROPN
economy-1236	386	2	,	,	PUNCT
economy-1236	386	3	m.z	m.z	PROPN
economy-1236	386	4	.	.	PROPN
economy-1236	386	5	and	and	CCONJ
economy-1236	386	6	v.k	v.k	PROPN
economy-1236	386	7	.	.	PROPN
economy-1236	386	8	goyal	goyal	PROPN
economy-1236	386	9	,	,	PUNCT
economy-1236	386	10	2003	2003	NUM
economy-1236	386	11	.	.	PUNCT
economy-1236	387	1	testing	test	VERB
economy-1236	387	2	the	the	DET
economy-1236	387	3	pecking	pecking	NOUN
economy-1236	387	4	order	order	NOUN
economy-1236	387	5	theory	theory	NOUN
economy-1236	387	6	of	of	ADP
economy-1236	387	7	capital	capital	NOUN
economy-1236	387	8	structure	structure	NOUN
economy-1236	387	9	.	.	PUNCT
economy-1236	388	1	journal	journal	NOUN
economy-1236	388	2	of	of	ADP
economy-1236	388	3	financial	financial	ADJ
economy-1236	388	4	economics	economic	NOUN
economy-1236	388	5	,	,	PUNCT
economy-1236	388	6	67(2	67(2	NUM
economy-1236	388	7	):	):	PUNCT
economy-1236	388	8	217248.available	217248.available	ADJ
economy-1236	388	9	at	at	ADP
economy-1236	388	10	:	:	PUNCT
economy-1236	388	11	https://doi.org/10.1016/s0304-405x(02)00252-0	https://doi.org/10.1016/s0304-405x(02)00252-0	PROPN
economy-1236	388	12	.	.	PUNCT
economy-1236	389	1	gervais	gervais	PROPN
economy-1236	389	2	,	,	PUNCT
economy-1236	389	3	s.	s.	PROPN
economy-1236	389	4	,	,	PUNCT
economy-1236	389	5	j.b	j.b	PROPN
economy-1236	389	6	.	.	PROPN
economy-1236	389	7	heaton	heaton	PROPN
economy-1236	389	8	and	and	CCONJ
economy-1236	389	9	t.	t.	PROPN
economy-1236	389	10	odean	odean	PROPN
economy-1236	389	11	,	,	PUNCT
economy-1236	389	12	2011	2011	NUM
economy-1236	389	13	.	.	PUNCT
economy-1236	390	1	overconfidence	overconfidence	NOUN
economy-1236	390	2	,	,	PUNCT
economy-1236	390	3	compensation	compensation	NOUN
economy-1236	390	4	contracts	contract	NOUN
economy-1236	390	5	,	,	PUNCT
economy-1236	390	6	and	and	CCONJ
economy-1236	390	7	capital	capital	NOUN
economy-1236	390	8	budgeting	budgeting	NOUN
economy-1236	390	9	.	.	PUNCT
economy-1236	391	1	the	the	DET
economy-1236	391	2	journal	journal	PROPN
economy-1236	391	3	of	of	ADP
economy-1236	391	4	finance	finance	PROPN
economy-1236	391	5	,	,	PUNCT
economy-1236	391	6	66(5	66(5	PROPN
economy-1236	391	7	):	):	PUNCT
economy-1236	391	8	1735-1777.available	1735-1777.available	ADJ
economy-1236	391	9	at	at	ADP
economy-1236	391	10	:	:	PUNCT
economy-1236	391	11	https://doi.org/10.1111/j.1540-6261.2011.01686.x	https://doi.org/10.1111/j.1540-6261.2011.01686.x	NUM
economy-1236	391	12	.	.	PUNCT
economy-1236	392	1	gervais	gervais	PROPN
economy-1236	392	2	,	,	PUNCT
economy-1236	392	3	s.	s.	PROPN
economy-1236	392	4	and	and	CCONJ
economy-1236	392	5	t.	t.	PROPN
economy-1236	392	6	odean	odean	PROPN
economy-1236	392	7	,	,	PUNCT
economy-1236	392	8	2001	2001	NUM
economy-1236	392	9	.	.	PUNCT
economy-1236	393	1	learning	learn	VERB
economy-1236	393	2	to	to	PART
economy-1236	393	3	be	be	AUX
economy-1236	393	4	overconfident	overconfident	ADJ
economy-1236	393	5	.	.	PUNCT
economy-1236	394	1	the	the	DET
economy-1236	394	2	review	review	NOUN
economy-1236	394	3	of	of	ADP
economy-1236	394	4	financial	financial	ADJ
economy-1236	394	5	studies	study	NOUN
economy-1236	394	6	,	,	PUNCT
economy-1236	394	7	14(1	14(1	NUM
economy-1236	394	8	):	):	PUNCT
economy-1236	394	9	1-27.available	1-27.available	NUM
economy-1236	394	10	at	at	ADP
economy-1236	394	11	:	:	PUNCT
economy-1236	394	12	https://doi.org/10.1093/rfs/14.1.1	https://doi.org/10.1093/rfs/14.1.1	PROPN
economy-1236	394	13	.	.	PUNCT
economy-1236	395	1	haniffa	haniffa	PROPN
economy-1236	395	2	,	,	PUNCT
economy-1236	395	3	r.	r.	PROPN
economy-1236	395	4	and	and	CCONJ
economy-1236	395	5	t.	t.	PROPN
economy-1236	395	6	cooke	cooke	PROPN
economy-1236	395	7	,	,	PUNCT
economy-1236	395	8	2000	2000	NUM
economy-1236	395	9	.	.	PUNCT
economy-1236	396	1	culture	culture	NOUN
economy-1236	396	2	,	,	PUNCT
economy-1236	396	3	corporate	corporate	ADJ
economy-1236	396	4	governance	governance	NOUN
economy-1236	396	5	and	and	CCONJ
economy-1236	396	6	disclosure	disclosure	NOUN
economy-1236	396	7	in	in	ADP
economy-1236	396	8	malaysian	malaysian	ADJ
economy-1236	396	9	corporations	corporation	NOUN
economy-1236	396	10	.	.	PUNCT
economy-1236	397	1	asian	asian	ADJ
economy-1236	397	2	aaa	aaa	PROPN
economy-1236	397	3	world	world	PROPN
economy-1236	397	4	conference	conference	PROPN
economy-1236	397	5	,	,	PUNCT
economy-1236	397	6	singapore	singapore	PROPN
economy-1236	397	7	.	.	PUNCT
economy-1236	398	1	heaton	heaton	PROPN
economy-1236	398	2	,	,	PUNCT
economy-1236	398	3	j.	j.	PROPN
economy-1236	398	4	,	,	PUNCT
economy-1236	398	5	2002	2002	NUM
economy-1236	398	6	.	.	PUNCT
economy-1236	399	1	managerial	managerial	ADJ
economy-1236	399	2	optimism	optimism	NOUN
economy-1236	399	3	and	and	CCONJ
economy-1236	399	4	corporate	corporate	ADJ
economy-1236	399	5	finance	finance	NOUN
economy-1236	399	6	.	.	PUNCT
economy-1236	400	1	financial	financial	ADJ
economy-1236	400	2	management	management	NOUN
economy-1236	400	3	,	,	PUNCT
economy-1236	400	4	31(2	31(2	NUM
economy-1236	400	5	):	):	PUNCT
economy-1236	400	6	33	33	NUM
economy-1236	400	7	-	-	SYM
economy-1236	400	8	45	45	NUM
economy-1236	400	9	.	.	PUNCT
economy-1236	401	1	hovakimian	hovakimian	PROPN
economy-1236	401	2	,	,	PUNCT
economy-1236	401	3	a.	a.	PROPN
economy-1236	401	4	,	,	PUNCT
economy-1236	401	5	g.	g.	PROPN
economy-1236	401	6	hovakimian	hovakimian	PROPN
economy-1236	401	7	and	and	CCONJ
economy-1236	401	8	h.	h.	PROPN
economy-1236	401	9	tehranian	tehranian	PROPN
economy-1236	401	10	,	,	PUNCT
economy-1236	401	11	2004	2004	NUM
economy-1236	401	12	.	.	PUNCT
economy-1236	402	1	determinants	determinant	NOUN
economy-1236	402	2	of	of	ADP
economy-1236	402	3	target	target	NOUN
economy-1236	402	4	capital	capital	NOUN
economy-1236	402	5	structure	structure	NOUN
economy-1236	402	6	:	:	PUNCT
economy-1236	402	7	the	the	DET
economy-1236	402	8	case	case	NOUN
economy-1236	402	9	of	of	ADP
economy-1236	402	10	dual	dual	ADJ
economy-1236	402	11	debt	debt	NOUN
economy-1236	402	12	and	and	CCONJ
economy-1236	402	13	equity	equity	NOUN
economy-1236	402	14	issues	issue	NOUN
economy-1236	402	15	.	.	PUNCT
economy-1236	403	1	journal	journal	NOUN
economy-1236	403	2	of	of	ADP
economy-1236	403	3	financial	financial	ADJ
economy-1236	403	4	economics	economic	NOUN
economy-1236	403	5	,	,	PUNCT
economy-1236	403	6	71(3	71(3	NUM
economy-1236	403	7	):	):	PUNCT
economy-1236	403	8	517-540.available	517-540.available	NUM
economy-1236	403	9	at	at	ADP
economy-1236	403	10	:	:	PUNCT
economy-1236	403	11	https://doi.org/10.1016/s0304-405x(03)00181-8	https://doi.org/10.1016/s0304-405x(03)00181-8	PROPN
economy-1236	403	12	.	.	PROPN
economy-1236	403	13	jarboui	jarboui	PROPN
economy-1236	403	14	,	,	PUNCT
economy-1236	403	15	a.	a.	PROPN
economy-1236	403	16	and	and	CCONJ
economy-1236	403	17	b.	b.	PROPN
economy-1236	403	18	olivero	olivero	PROPN
economy-1236	403	19	,	,	PUNCT
economy-1236	403	20	2008	2008	NUM
economy-1236	403	21	.	.	PUNCT
economy-1236	404	1	is	be	AUX
economy-1236	404	2	the	the	DET
economy-1236	404	3	risk	risk	NOUN
economy-1236	404	4	/	/	SYM
economy-1236	404	5	time	time	NOUN
economy-1236	404	6	horizon	horizon	NOUN
economy-1236	404	7	of	of	ADP
economy-1236	404	8	the	the	DET
economy-1236	404	9	investments	investment	NOUN
economy-1236	404	10	pair	pair	NOUN
economy-1236	404	11	governed	govern	VERB
economy-1236	404	12	by	by	ADP
economy-1236	404	13	the	the	DET
economy-1236	404	14	institutional	institutional	NOUN
economy-1236	404	15	and	and	CCONJ
economy-1236	404	16	the	the	DET
economy-1236	404	17	dominant	dominant	ADJ
economy-1236	404	18	shareholders	shareholder	NOUN
economy-1236	404	19	?	?	PUNCT
economy-1236	405	1	[	[	X
economy-1236	405	2	the	the	DET
economy-1236	405	3	risk	risk	NOUN
economy-1236	405	4	/	/	SYM
economy-1236	405	5	investment	investment	NOUN
economy-1236	405	6	time	time	NOUN
economy-1236	405	7	horizon	horizon	NOUN
economy-1236	405	8	is	be	AUX
economy-1236	405	9	governed	govern	VERB
economy-1236	405	10	by	by	ADP
economy-1236	405	11	the	the	DET
economy-1236	405	12	institutional	institutional	ADJ
economy-1236	405	13	and	and	CCONJ
economy-1236	405	14	controlling	control	VERB
economy-1236	405	15	shareholders	shareholder	NOUN
economy-1236	405	16	?	?	PUNCT
economy-1236	405	17	]	]	PUNCT
economy-1236	405	18	.	.	PUNCT
economy-1236	406	1	bank	bank	NOUN
economy-1236	406	2	and	and	CCONJ
economy-1236	406	3	markets	market	NOUN
economy-1236	406	4	,	,	PUNCT
economy-1236	406	5	93(1	93(1	NUM
economy-1236	406	6	):	):	PUNCT
economy-1236	406	7	20	20	NUM
economy-1236	406	8	-	-	SYM
economy-1236	406	9	34	34	NUM
economy-1236	406	10	.	.	PUNCT
economy-1236	407	1	jensen	jensen	PROPN
economy-1236	407	2	,	,	PUNCT
economy-1236	407	3	m.c	m.c	PROPN
economy-1236	407	4	.	.	PROPN
economy-1236	407	5	,	,	PUNCT
economy-1236	407	6	1993	1993	NUM
economy-1236	407	7	.	.	PUNCT
economy-1236	408	1	the	the	DET
economy-1236	408	2	modern	modern	ADJ
economy-1236	408	3	industrial	industrial	ADJ
economy-1236	408	4	revolution	revolution	NOUN
economy-1236	408	5	,	,	PUNCT
economy-1236	408	6	exit	exit	NOUN
economy-1236	408	7	,	,	PUNCT
economy-1236	408	8	and	and	CCONJ
economy-1236	408	9	the	the	DET
economy-1236	408	10	failure	failure	NOUN
economy-1236	408	11	of	of	ADP
economy-1236	408	12	internal	internal	ADJ
economy-1236	408	13	control	control	NOUN
economy-1236	408	14	systems	system	NOUN
economy-1236	408	15	.	.	PUNCT
economy-1236	409	1	journal	journal	PROPN
economy-1236	409	2	of	of	ADP
economy-1236	409	3	finance	finance	NOUN
economy-1236	409	4	,	,	PUNCT
economy-1236	409	5	48	48	NUM
economy-1236	409	6	:	:	PUNCT
economy-1236	409	7	831880.available	831880.available	ADJ
economy-1236	409	8	at	at	ADP
economy-1236	409	9	:	:	PUNCT
economy-1236	410	1	https://doi.org/10.1111/j.1540-6261.1993.tb04022.x	https://doi.org/10.1111/j.1540-6261.1993.tb04022.x	PROPN
economy-1236	410	2	.	.	PUNCT
economy-1236	410	3	jiraporn	jiraporn	PROPN
economy-1236	410	4	,	,	PUNCT
economy-1236	410	5	p.	p.	NOUN
economy-1236	410	6	,	,	PUNCT
economy-1236	410	7	j.-c	j.-c	PROPN
economy-1236	410	8	.	.	PUNCT
economy-1236	411	1	kim	kim	PROPN
economy-1236	411	2	,	,	PUNCT
economy-1236	411	3	y.s	y.s	PROPN
economy-1236	411	4	.	.	PROPN
economy-1236	411	5	kim	kim	PROPN
economy-1236	411	6	and	and	CCONJ
economy-1236	411	7	p.	p.	PROPN
economy-1236	411	8	kitsabunnarat	kitsabunnarat	PROPN
economy-1236	411	9	,	,	PUNCT
economy-1236	411	10	2012	2012	NUM
economy-1236	411	11	.	.	PUNCT
economy-1236	412	1	capital	capital	NOUN
economy-1236	412	2	structure	structure	NOUN
economy-1236	412	3	and	and	CCONJ
economy-1236	412	4	corporate	corporate	ADJ
economy-1236	412	5	governance	governance	NOUN
economy-1236	412	6	quality	quality	NOUN
economy-1236	412	7	:	:	PUNCT
economy-1236	412	8	evidence	evidence	NOUN
economy-1236	412	9	from	from	ADP
economy-1236	412	10	the	the	DET
economy-1236	412	11	institutional	institutional	ADJ
economy-1236	412	12	shareholder	shareholder	NOUN
economy-1236	412	13	services	service	NOUN
economy-1236	412	14	(	(	PUNCT
economy-1236	412	15	iss	iss	PROPN
economy-1236	412	16	)	)	PUNCT
economy-1236	412	17	.	.	PUNCT
economy-1236	413	1	international	international	ADJ
economy-1236	413	2	review	review	NOUN
economy-1236	413	3	of	of	ADP
economy-1236	413	4	economics	economics	PROPN
economy-1236	413	5	&	&	CCONJ
economy-1236	413	6	finance	finance	PROPN
economy-1236	413	7	,	,	PUNCT
economy-1236	413	8	22(1	22(1	NUM
economy-1236	413	9	):	):	PUNCT
economy-1236	413	10	208	208	NUM
economy-1236	413	11	-	-	SYM
economy-1236	413	12	221	221	NUM
economy-1236	413	13	.	.	PUNCT
economy-1236	414	1	koh	koh	PROPN
economy-1236	414	2	,	,	PUNCT
economy-1236	414	3	p.-s	p.-s	PROPN
economy-1236	414	4	.	.	PROPN
economy-1236	414	5	,	,	PUNCT
economy-1236	414	6	2003	2003	NUM
economy-1236	414	7	.	.	PUNCT
economy-1236	415	1	on	on	ADP
economy-1236	415	2	the	the	DET
economy-1236	415	3	association	association	NOUN
economy-1236	415	4	between	between	ADP
economy-1236	415	5	institutional	institutional	ADJ
economy-1236	415	6	ownership	ownership	NOUN
economy-1236	415	7	and	and	CCONJ
economy-1236	415	8	aggressive	aggressive	ADJ
economy-1236	415	9	corporate	corporate	ADJ
economy-1236	415	10	earnings	earning	NOUN
economy-1236	415	11	management	management	NOUN
economy-1236	415	12	in	in	ADP
economy-1236	415	13	australia	australia	PROPN
economy-1236	415	14	.	.	PUNCT
economy-1236	416	1	the	the	DET
economy-1236	416	2	british	british	PROPN
economy-1236	416	3	accounting	accounting	PROPN
economy-1236	416	4	review	review	PROPN
economy-1236	416	5	,	,	PUNCT
economy-1236	416	6	35(2	35(2	NUM
economy-1236	416	7	):	):	PUNCT
economy-1236	416	8	105-128.available	105-128.available	NUM
economy-1236	416	9	at	at	ADP
economy-1236	416	10	:	:	PUNCT
economy-1236	416	11	https://doi.org/10.1016/s0890-8389(03)00014-3	https://doi.org/10.1016/s0890-8389(03)00014-3	PROPN
economy-1236	416	12	.	.	PUNCT
economy-1236	417	1	lipton	lipton	PROPN
economy-1236	417	2	,	,	PUNCT
economy-1236	417	3	m.	m.	NOUN
economy-1236	417	4	and	and	CCONJ
economy-1236	417	5	j.w	j.w	PROPN
economy-1236	417	6	.	.	PROPN
economy-1236	417	7	lorsch	lorsch	PROPN
economy-1236	417	8	,	,	PUNCT
economy-1236	417	9	1992	1992	NUM
economy-1236	417	10	.	.	PUNCT
economy-1236	418	1	a	a	DET
economy-1236	418	2	modest	modest	ADJ
economy-1236	418	3	proposal	proposal	NOUN
economy-1236	418	4	for	for	ADP
economy-1236	418	5	improved	improve	VERB
economy-1236	418	6	corporate	corporate	ADJ
economy-1236	418	7	governance	governance	NOUN
economy-1236	418	8	.	.	PUNCT
economy-1236	419	1	the	the	DET
economy-1236	419	2	business	business	NOUN
economy-1236	419	3	lawyer	lawyer	NOUN
economy-1236	419	4	:	:	PUNCT
economy-1236	419	5	59-77.available	59-77.available	NOUN
economy-1236	419	6	at	at	ADP
economy-1236	419	7	:	:	PUNCT
economy-1236	419	8	https://doi.org/10.1007/978-1-349-14158-6_3	https://doi.org/10.1007/978-1-349-14158-6_3	NUM
economy-1236	419	9	.	.	PUNCT
economy-1236	420	1	malmendier	malmendier	NOUN
economy-1236	420	2	,	,	PUNCT
economy-1236	420	3	u.	u.	PROPN
economy-1236	420	4	and	and	CCONJ
economy-1236	420	5	g.	g.	PROPN
economy-1236	420	6	tate	tate	PROPN
economy-1236	420	7	,	,	PUNCT
economy-1236	420	8	2005	2005	NUM
economy-1236	420	9	.	.	PUNCT
economy-1236	421	1	ceo	ceo	NOUN
economy-1236	421	2	overconfidence	overconfidence	NOUN
economy-1236	421	3	and	and	CCONJ
economy-1236	421	4	corporate	corporate	ADJ
economy-1236	421	5	investment	investment	NOUN
economy-1236	421	6	.	.	PUNCT
economy-1236	422	1	journal	journal	PROPN
economy-1236	422	2	of	of	ADP
economy-1236	422	3	finance	finance	NOUN
economy-1236	422	4	,	,	PUNCT
economy-1236	422	5	60(6	60(6	NOUN
economy-1236	422	6	):	):	PUNCT
economy-1236	422	7	2661	2661	NUM
economy-1236	422	8	-	-	SYM
economy-1236	422	9	2700	2700	NUM
economy-1236	422	10	.	.	PUNCT
economy-1236	423	1	malmendier	malmendier	NOUN
economy-1236	423	2	,	,	PUNCT
economy-1236	423	3	u.	u.	PROPN
economy-1236	423	4	and	and	CCONJ
economy-1236	423	5	g.	g.	PROPN
economy-1236	423	6	tate	tate	PROPN
economy-1236	423	7	,	,	PUNCT
economy-1236	423	8	2008	2008	NUM
economy-1236	423	9	.	.	PUNCT
economy-1236	424	1	who	who	PRON
economy-1236	424	2	makes	make	VERB
economy-1236	424	3	acquisitions	acquisition	NOUN
economy-1236	424	4	?	?	PUNCT
economy-1236	425	1	ceo	ceo	NOUN
economy-1236	425	2	overconfidence	overconfidence	NOUN
economy-1236	425	3	and	and	CCONJ
economy-1236	425	4	the	the	DET
economy-1236	425	5	market	market	NOUN
economy-1236	425	6	's	's	PART
economy-1236	425	7	reaction	reaction	NOUN
economy-1236	425	8	.	.	PUNCT
economy-1236	426	1	journal	journal	NOUN
economy-1236	426	2	of	of	ADP
economy-1236	426	3	financial	financial	ADJ
economy-1236	426	4	economics	economic	NOUN
economy-1236	426	5	,	,	PUNCT
economy-1236	426	6	89(1	89(1	NUM
economy-1236	426	7	):	):	PUNCT
economy-1236	426	8	20-43.available	20-43.available	ADJ
economy-1236	426	9	at	at	ADP
economy-1236	426	10	:	:	PUNCT
economy-1236	426	11	https://doi.org/10.1016/j.jfineco.2007.07.002	https://doi.org/10.1016/j.jfineco.2007.07.002	PROPN
economy-1236	426	12	.	.	PUNCT
economy-1236	427	1	malmendier	malmendier	NOUN
economy-1236	427	2	,	,	PUNCT
economy-1236	427	3	u.	u.	PROPN
economy-1236	427	4	and	and	CCONJ
economy-1236	427	5	g.	g.	PROPN
economy-1236	427	6	tate	tate	PROPN
economy-1236	427	7	,	,	PUNCT
economy-1236	427	8	2015	2015	NUM
economy-1236	427	9	.	.	PUNCT
economy-1236	428	1	behavioral	behavioral	ADJ
economy-1236	428	2	ceos	ceo	NOUN
economy-1236	428	3	:	:	PUNCT
economy-1236	428	4	the	the	DET
economy-1236	428	5	role	role	NOUN
economy-1236	428	6	of	of	ADP
economy-1236	428	7	managerial	managerial	ADJ
economy-1236	428	8	overconfidence	overconfidence	NOUN
economy-1236	428	9	.	.	PUNCT
economy-1236	429	1	journal	journal	NOUN
economy-1236	429	2	of	of	ADP
economy-1236	429	3	economic	economic	ADJ
economy-1236	429	4	perspectives	perspective	NOUN
economy-1236	429	5	,	,	PUNCT
economy-1236	429	6	29(4	29(4	NOUN
economy-1236	429	7	):	):	PUNCT
economy-1236	429	8	3760.available	3760.available	ADJ
economy-1236	429	9	at	at	ADP
economy-1236	429	10	:	:	PUNCT
economy-1236	429	11	https://doi.org/10.1257/jep.29.4.37	https://doi.org/10.1257/jep.29.4.37	PROPN
economy-1236	429	12	.	.	PUNCT
economy-1236	429	13	malmendier	malmendier	NOUN
economy-1236	429	14	,	,	PUNCT
economy-1236	429	15	u.	u.	PROPN
economy-1236	429	16	,	,	PUNCT
economy-1236	429	17	g.	g.	PROPN
economy-1236	429	18	tate	tate	PROPN
economy-1236	429	19	and	and	CCONJ
economy-1236	429	20	j.	j.	PROPN
economy-1236	429	21	yan	yan	PROPN
economy-1236	429	22	,	,	PUNCT
economy-1236	429	23	2010	2010	NUM
economy-1236	429	24	.	.	PUNCT
economy-1236	430	1	managerial	managerial	ADJ
economy-1236	430	2	beliefs	belief	NOUN
economy-1236	430	3	and	and	CCONJ
economy-1236	430	4	corporate	corporate	ADJ
economy-1236	430	5	financial	financial	ADJ
economy-1236	430	6	policies	policy	NOUN
economy-1236	430	7	.	.	PUNCT
economy-1236	431	1	working	work	VERB
economy-1236	431	2	paper	paper	NOUN
economy-1236	431	3	,	,	PUNCT
economy-1236	431	4	n	n	CCONJ
economy-1236	431	5	°	°	NOUN
economy-1236	431	6	105	105	NUM
economy-1236	431	7	,	,	PUNCT
economy-1236	431	8	uc	uc	PROPN
economy-1236	431	9	berkeley	berkeley	PROPN
economy-1236	431	10	and	and	CCONJ
economy-1236	431	11	uc	uc	PROPN
economy-1236	431	12	los	los	PROPN
economy-1236	431	13	angeles	angeles	PROPN
economy-1236	431	14	,	,	PUNCT
economy-1236	431	15	faculty.fuqua.duke.edu	faculty.fuqua.duke.edu	PROPN
economy-1236	431	16	.	.	PUNCT
economy-1236	431	17	modigliani	modigliani	PROPN
economy-1236	431	18	,	,	PUNCT
economy-1236	431	19	f.	f.	PROPN
economy-1236	431	20	and	and	CCONJ
economy-1236	431	21	m.h	m.h	PROPN
economy-1236	431	22	.	.	PROPN
economy-1236	431	23	miller	miller	PROPN
economy-1236	431	24	,	,	PUNCT
economy-1236	431	25	1958	1958	NUM
economy-1236	431	26	.	.	PUNCT
economy-1236	432	1	the	the	DET
economy-1236	432	2	cost	cost	NOUN
economy-1236	432	3	of	of	ADP
economy-1236	432	4	capital	capital	NOUN
economy-1236	432	5	,	,	PUNCT
economy-1236	432	6	corporation	corporation	NOUN
economy-1236	432	7	finance	finance	NOUN
economy-1236	432	8	and	and	CCONJ
economy-1236	432	9	the	the	DET
economy-1236	432	10	theory	theory	NOUN
economy-1236	432	11	of	of	ADP
economy-1236	432	12	investment	investment	NOUN
economy-1236	432	13	.	.	PUNCT
economy-1236	433	1	the	the	DET
economy-1236	433	2	american	american	PROPN
economy-1236	433	3	economic	economic	PROPN
economy-1236	433	4	review	review	PROPN
economy-1236	433	5	,	,	PUNCT
economy-1236	433	6	48(3	48(3	NOUN
economy-1236	433	7	):	):	PUNCT
economy-1236	433	8	261	261	NUM
economy-1236	433	9	-	-	SYM
economy-1236	433	10	297	297	NUM
economy-1236	433	11	.	.	PUNCT
economy-1236	434	1	mokarami	mokarami	NOUN
economy-1236	434	2	,	,	PUNCT
economy-1236	434	3	m.	m.	NOUN
economy-1236	434	4	,	,	PUNCT
economy-1236	434	5	m.r	m.r	PROPN
economy-1236	434	6	.	.	PROPN
economy-1236	434	7	ahmadi	ahmadi	PROPN
economy-1236	434	8	and	and	CCONJ
economy-1236	434	9	a.h	a.h	PROPN
economy-1236	434	10	.	.	PROPN
economy-1236	434	11	hosseinzadeh	hosseinzadeh	PROPN
economy-1236	434	12	,	,	PUNCT
economy-1236	434	13	2012	2012	NUM
economy-1236	434	14	.	.	PUNCT
economy-1236	435	1	corporate	corporate	ADJ
economy-1236	435	2	governance	governance	NOUN
economy-1236	435	3	and	and	CCONJ
economy-1236	435	4	financial	financial	ADJ
economy-1236	435	5	decision	decision	NOUN
economy-1236	435	6	making	making	NOUN
economy-1236	435	7	in	in	ADP
economy-1236	435	8	the	the	DET
economy-1236	435	9	firms	firm	NOUN
economy-1236	435	10	listed	list	VERB
economy-1236	435	11	on	on	ADP
economy-1236	435	12	tehran	tehran	PROPN
economy-1236	435	13	stock	stock	PROPN
economy-1236	435	14	exchange	exchange	PROPN
economy-1236	435	15	.	.	PUNCT
economy-1236	436	1	international	international	ADJ
economy-1236	436	2	research	research	PROPN
economy-1236	436	3	journal	journal	NOUN
economy-1236	436	4	of	of	ADP
economy-1236	436	5	finance	finance	NOUN
economy-1236	436	6	and	and	CCONJ
economy-1236	436	7	economics	economic	NOUN
economy-1236	436	8	,	,	PUNCT
economy-1236	436	9	93	93	NUM
economy-1236	436	10	:	:	SYM
economy-1236	436	11	164	164	NUM
economy-1236	436	12	-	-	SYM
economy-1236	436	13	171	171	NUM
economy-1236	436	14	.	.	PUNCT
economy-1236	437	1	myers	myers	PROPN
economy-1236	437	2	,	,	PUNCT
economy-1236	437	3	s.c	s.c	PROPN
economy-1236	437	4	.	.	PROPN
economy-1236	437	5	,	,	PUNCT
economy-1236	437	6	2001	2001	NUM
economy-1236	437	7	.	.	PUNCT
economy-1236	438	1	capital	capital	NOUN
economy-1236	438	2	structure	structure	NOUN
economy-1236	438	3	.	.	PUNCT
economy-1236	439	1	journal	journal	NOUN
economy-1236	439	2	of	of	ADP
economy-1236	439	3	economic	economic	ADJ
economy-1236	439	4	perspectives	perspective	NOUN
economy-1236	439	5	,	,	PUNCT
economy-1236	439	6	15(2	15(2	NUM
economy-1236	439	7	):	):	PUNCT
economy-1236	439	8	81	81	NUM
economy-1236	439	9	-	-	SYM
economy-1236	439	10	102	102	NUM
economy-1236	439	11	.	.	PUNCT
economy-1236	440	1	petra	petra	PROPN
economy-1236	440	2	,	,	PUNCT
economy-1236	440	3	s.	s.	PROPN
economy-1236	440	4	and	and	CCONJ
economy-1236	440	5	t.n	t.n	PROPN
economy-1236	440	6	.	.	PROPN
economy-1236	440	7	dorata	dorata	PROPN
economy-1236	440	8	,	,	PUNCT
economy-1236	440	9	2008	2008	NUM
economy-1236	440	10	.	.	PUNCT
economy-1236	441	1	corporate	corporate	ADJ
economy-1236	441	2	governance	governance	NOUN
economy-1236	441	3	and	and	CCONJ
economy-1236	441	4	chief	chief	ADJ
economy-1236	441	5	executive	executive	ADJ
economy-1236	441	6	officer	officer	NOUN
economy-1236	441	7	compensation	compensation	PROPN
economy-1236	441	8	.	.	PUNCT
economy-1236	442	1	corporate	corporate	ADJ
economy-1236	442	2	governance	governance	NOUN
economy-1236	442	3	,	,	PUNCT
economy-1236	442	4	8(2	8(2	NUM
economy-1236	442	5	):	):	PUNCT
economy-1236	442	6	141152.available	141152.available	ADJ
economy-1236	442	7	at	at	ADP
economy-1236	442	8	:	:	PUNCT
economy-1236	442	9	https://doi.org/10.1108/14720700810863779	https://doi.org/10.1108/14720700810863779	PROPN
economy-1236	442	10	.	.	PUNCT
economy-1236	443	1	economy	economy	NOUN
economy-1236	443	2	,	,	PUNCT
economy-1236	443	3	2019	2019	NUM
economy-1236	443	4	,	,	PUNCT
economy-1236	443	5	6(2	6(2	NUM
economy-1236	443	6	):	):	PUNCT
economy-1236	443	7	82	82	NUM
economy-1236	443	8	-	-	SYM
economy-1236	443	9	91	91	NUM
economy-1236	443	10	91	91	NUM
economy-1236	444	1	©	©	PROPN
economy-1236	444	2	2019	2019	NUM
economy-1236	444	3	by	by	ADP
economy-1236	444	4	the	the	DET
economy-1236	444	5	authors	author	NOUN
economy-1236	444	6	;	;	PUNCT
economy-1236	444	7	licensee	licensee	PROPN
economy-1236	444	8	asian	asian	ADJ
economy-1236	444	9	online	online	PROPN
economy-1236	444	10	journal	journal	PROPN
economy-1236	444	11	publishing	publishing	PROPN
economy-1236	444	12	group	group	NOUN
economy-1236	444	13	pigé	pigé	PROPN
economy-1236	444	14	,	,	PUNCT
economy-1236	444	15	b.	b.	PROPN
economy-1236	444	16	,	,	PUNCT
economy-1236	444	17	1998	1998	NUM
economy-1236	444	18	.	.	PUNCT
economy-1236	445	1	enrichment	enrichment	NOUN
economy-1236	445	2	ten	ten	NUM
economy-1236	445	3	dragons	dragon	NOUN
economy-1236	445	4	or	or	CCONJ
economy-1236	445	5	recharges	recharge	VERB
economy-1236	445	6	with	with	ADP
economy-1236	445	7	ten	ten	NUM
economy-1236	445	8	octaneoires	octaneoire	NOUN
economy-1236	445	9	.	.	PUNCT
economy-1236	446	1	finance	finance	NOUN
economy-1236	446	2	contrôle	contrôle	X
economy-1236	446	3	stratégie	stratégie	PROPN
economy-1236	446	4	,	,	PUNCT
economy-1236	446	5	1(3	1(3	NUM
economy-1236	446	6	):	):	PUNCT
economy-1236	446	7	131	131	NUM
economy-1236	446	8	-	-	SYM
economy-1236	446	9	158	158	NUM
economy-1236	446	10	.	.	PUNCT
economy-1236	447	1	sahut	sahut	PROPN
economy-1236	447	2	,	,	PUNCT
economy-1236	447	3	j.	j.	PROPN
economy-1236	447	4	and	and	CCONJ
economy-1236	447	5	o.	o.	PROPN
economy-1236	447	6	gharbi	gharbi	PROPN
economy-1236	447	7	,	,	PUNCT
economy-1236	447	8	2008	2008	NUM
economy-1236	447	9	.	.	PUNCT
economy-1236	448	1	institutional	institutional	ADJ
economy-1236	448	2	investors	investor	NOUN
economy-1236	448	3	and	and	CCONJ
economy-1236	448	4	typology	typology	NOUN
economy-1236	448	5	and	and	CCONJ
economy-1236	448	6	firm	firm	ADJ
economy-1236	448	7	performance	performance	NOUN
economy-1236	448	8	:	:	PUNCT
economy-1236	448	9	the	the	DET
economy-1236	448	10	case	case	NOUN
economy-1236	448	11	of	of	ADP
economy-1236	448	12	french	french	ADJ
economy-1236	448	13	firms	firm	NOUN
economy-1236	448	14	.	.	PUNCT
economy-1236	449	1	international	international	ADJ
economy-1236	449	2	journal	journal	PROPN
economy-1236	449	3	of	of	ADP
economy-1236	449	4	business	business	NOUN
economy-1236	449	5	,	,	PUNCT
economy-1236	449	6	15(1	15(1	NUM
economy-1236	449	7	):	):	PUNCT
economy-1236	449	8	34	34	NUM
economy-1236	449	9	-	-	SYM
economy-1236	449	10	48	48	NUM
economy-1236	449	11	.	.	PUNCT
economy-1236	450	1	schrand	schrand	NOUN
economy-1236	450	2	,	,	PUNCT
economy-1236	450	3	c.	c.	PROPN
economy-1236	450	4	and	and	CCONJ
economy-1236	450	5	s.	s.	PROPN
economy-1236	450	6	zechman	zechman	PROPN
economy-1236	450	7	,	,	PUNCT
economy-1236	450	8	2010	2010	NUM
economy-1236	450	9	.	.	PUNCT
economy-1236	451	1	executive	executive	ADJ
economy-1236	451	2	overconfidence	overconfidence	NOUN
economy-1236	451	3	and	and	CCONJ
economy-1236	451	4	the	the	DET
economy-1236	451	5	slippery	slippery	ADJ
economy-1236	451	6	slope	slope	NOUN
economy-1236	451	7	to	to	PART
economy-1236	451	8	fraud	fraud	VERB
economy-1236	451	9	.	.	PUNCT
economy-1236	452	1	journal	journal	PROPN
economy-1236	452	2	of	of	ADP
economy-1236	452	3	accounting	accounting	NOUN
economy-1236	452	4	and	and	CCONJ
economy-1236	452	5	economics	economic	NOUN
economy-1236	452	6	,	,	PUNCT
economy-1236	452	7	53(1	53(1	PROPN
economy-1236	452	8	-	-	SYM
economy-1236	452	9	2	2	NUM
economy-1236	452	10	):	):	PUNCT
economy-1236	452	11	311	311	NUM
economy-1236	452	12	-	-	SYM
economy-1236	452	13	321	321	NUM
economy-1236	452	14	.	.	PUNCT
economy-1236	453	1	schwizer	schwizer	NOUN
economy-1236	453	2	,	,	PUNCT
economy-1236	453	3	p.	p.	NOUN
economy-1236	453	4	,	,	PUNCT
economy-1236	453	5	2013	2013	NUM
economy-1236	453	6	.	.	PUNCT
economy-1236	454	1	a	a	DET
economy-1236	454	2	resolute	resolute	NOUN
economy-1236	454	3	:	:	PUNCT
economy-1236	454	4	the	the	DET
economy-1236	454	5	creator	creator	NOUN
economy-1236	454	6	of	of	ADP
economy-1236	454	7	christendom	christendom	PROPN
economy-1236	454	8	's	's	PART
economy-1236	454	9	heart	heart	NOUN
economy-1236	454	10	system	system	NOUN
economy-1236	454	11	by	by	ADP
economy-1236	454	12	the	the	DET
economy-1236	454	13	controlled	control	VERB
economy-1236	454	14	internet	internet	NOUN
economy-1236	454	15	.	.	PUNCT
economy-1236	455	1	in	in	ADP
economy-1236	455	2	internal	internal	ADJ
economy-1236	455	3	governance	governance	NOUN
economy-1236	455	4	new	new	ADJ
economy-1236	455	5	rules	rule	NOUN
economy-1236	455	6	,	,	PUNCT
economy-1236	455	7	experiences	experience	NOUN
economy-1236	455	8	,	,	PUNCT
economy-1236	455	9	best	good	ADJ
economy-1236	455	10	practices	practice	NOUN
economy-1236	455	11	for	for	ADP
economy-1236	455	12	the	the	DET
economy-1236	455	13	organization	organization	NOUN
economy-1236	455	14	of	of	ADP
economy-1236	455	15	internal	internal	ADJ
economy-1236	455	16	controls	control	NOUN
economy-1236	455	17	of	of	ADP
economy-1236	455	18	banks	bank	NOUN
economy-1236	455	19	,	,	PUNCT
economy-1236	455	20	edited	edit	VERB
economy-1236	455	21	by	by	ADP
economy-1236	455	22	paola	paola	PROPN
economy-1236	455	23	schwizer	schwizer	PROPN
economy-1236	455	24	.	.	PUNCT
economy-1236	456	1	milan	milan	PROPN
economy-1236	456	2	:	:	PUNCT
economy-1236	457	1	egea	egea	ADV
economy-1236	457	2	.	.	PUNCT
economy-1236	458	1	pp	pp	ADP
economy-1236	458	2	:	:	PUNCT
economy-1236	458	3	87	87	NUM
economy-1236	458	4	118	118	NUM
economy-1236	458	5	.	.	PUNCT
economy-1236	458	6	shabou	shabou	PROPN
economy-1236	458	7	,	,	PUNCT
economy-1236	458	8	r.	r.	PROPN
economy-1236	458	9	,	,	PUNCT
economy-1236	458	10	2000	2000	NUM
economy-1236	458	11	.	.	PUNCT
economy-1236	459	1	nature	nature	NOUN
economy-1236	459	2	of	of	ADP
economy-1236	459	3	control	control	NOUN
economy-1236	459	4	block	block	NOUN
economy-1236	459	5	holders	holder	NOUN
economy-1236	459	6	,	,	PUNCT
economy-1236	459	7	control	control	NOUN
economy-1236	459	8	mechanisms	mechanism	NOUN
economy-1236	459	9	and	and	CCONJ
economy-1236	459	10	financial	financial	ADJ
economy-1236	459	11	performance	performance	NOUN
economy-1236	459	12	of	of	ADP
economy-1236	459	13	tunisian	tunisian	ADJ
economy-1236	459	14	companies	company	NOUN
economy-1236	459	15	[	[	X
economy-1236	459	16	nature	nature	NOUN
economy-1236	459	17	of	of	ADP
economy-1236	459	18	holders	holder	NOUN
economy-1236	459	19	of	of	ADP
economy-1236	459	20	control	control	NOUN
economy-1236	459	21	blocks	block	NOUN
economy-1236	459	22	,	,	PUNCT
economy-1236	459	23	control	control	NOUN
economy-1236	459	24	mechanisms	mechanism	NOUN
economy-1236	459	25	and	and	CCONJ
economy-1236	459	26	financial	financial	ADJ
economy-1236	459	27	performance	performance	NOUN
economy-1236	459	28	of	of	ADP
economy-1236	459	29	tunisian	tunisian	ADJ
economy-1236	459	30	companies	company	NOUN
economy-1236	459	31	]	]	PUNCT
economy-1236	459	32	.	.	PUNCT
economy-1236	460	1	working	work	VERB
economy-1236	460	2	paper	paper	NOUN
economy-1236	460	3	.	.	PUNCT
economy-1236	461	1	university	university	NOUN
economy-1236	461	2	of	of	ADP
economy-1236	461	3	sfax	sfax	NOUN
economy-1236	461	4	.	.	PUNCT
economy-1236	462	1	gestion	gestion	PROPN
economy-1236	462	2	2000	2000	NUM
economy-1236	462	3	6	6	NUM
economy-1236	462	4	,	,	PUNCT
economy-1236	462	5	(	(	PUNCT
economy-1236	462	6	2003	2003	NUM
economy-1236	462	7	)	)	PUNCT
economy-1236	462	8	.	.	PUNCT
economy-1236	463	1	titman	titman	PROPN
economy-1236	463	2	,	,	PUNCT
economy-1236	463	3	s.	s.	PROPN
economy-1236	463	4	,	,	PUNCT
economy-1236	463	5	1984	1984	NUM
economy-1236	463	6	.	.	PUNCT
economy-1236	464	1	the	the	DET
economy-1236	464	2	effect	effect	NOUN
economy-1236	464	3	of	of	ADP
economy-1236	464	4	capital	capital	NOUN
economy-1236	464	5	structure	structure	NOUN
economy-1236	464	6	on	on	ADP
economy-1236	464	7	a	a	DET
economy-1236	464	8	firm	firm	NOUN
economy-1236	464	9	's	's	PART
economy-1236	464	10	liquidation	liquidation	NOUN
economy-1236	464	11	decision	decision	NOUN
economy-1236	464	12	.	.	PUNCT
economy-1236	465	1	journal	journal	NOUN
economy-1236	465	2	of	of	ADP
economy-1236	465	3	financial	financial	ADJ
economy-1236	465	4	economics	economic	NOUN
economy-1236	465	5	,	,	PUNCT
economy-1236	465	6	13(1	13(1	NUM
economy-1236	465	7	):	):	PUNCT
economy-1236	465	8	137-151.available	137-151.available	NUM
economy-1236	465	9	at	at	ADP
economy-1236	465	10	:	:	PUNCT
economy-1236	465	11	https://doi.org/10.1016/0304-405x(84)90035-7	https://doi.org/10.1016/0304-405x(84)90035-7	PROPN
economy-1236	465	12	.	.	PROPN
economy-1236	465	13	vakilifard	vakilifard	PROPN
economy-1236	465	14	,	,	PUNCT
economy-1236	465	15	h.r	h.r	PROPN
economy-1236	465	16	.	.	PROPN
economy-1236	465	17	,	,	PUNCT
economy-1236	465	18	m.s	m.s	PROPN
economy-1236	465	19	.	.	PROPN
economy-1236	465	20	gerayli	gerayli	PROPN
economy-1236	465	21	,	,	PUNCT
economy-1236	465	22	a.m.	a.m.	NOUN
economy-1236	465	23	yanesari	yanesari	PROPN
economy-1236	465	24	and	and	CCONJ
economy-1236	465	25	a.r	a.r	PROPN
economy-1236	465	26	.	.	PROPN
economy-1236	465	27	ma'atoofi	ma'atoofi	PROPN
economy-1236	465	28	,	,	PUNCT
economy-1236	465	29	2011	2011	NUM
economy-1236	465	30	.	.	PUNCT
economy-1236	466	1	effect	effect	NOUN
economy-1236	466	2	of	of	ADP
economy-1236	466	3	corporate	corporate	ADJ
economy-1236	466	4	governance	governance	NOUN
economy-1236	466	5	on	on	ADP
economy-1236	466	6	capital	capital	NOUN
economy-1236	466	7	structure	structure	NOUN
economy-1236	466	8	:	:	PUNCT
economy-1236	466	9	case	case	NOUN
economy-1236	466	10	of	of	ADP
economy-1236	466	11	the	the	DET
economy-1236	466	12	iranian	iranian	ADJ
economy-1236	466	13	listed	list	VERB
economy-1236	466	14	firms	firm	NOUN
economy-1236	466	15	.	.	PUNCT
economy-1236	467	1	european	european	PROPN
economy-1236	467	2	journal	journal	PROPN
economy-1236	467	3	of	of	ADP
economy-1236	467	4	economics	economic	NOUN
economy-1236	467	5	,	,	PUNCT
economy-1236	467	6	finance	finance	NOUN
economy-1236	467	7	and	and	CCONJ
economy-1236	467	8	administrative	administrative	ADJ
economy-1236	467	9	sciences	science	NOUN
economy-1236	467	10	,	,	PUNCT
economy-1236	467	11	35	35	NUM
economy-1236	467	12	:	:	SYM
economy-1236	467	13	165	165	NUM
economy-1236	467	14	-	-	SYM
economy-1236	467	15	172	172	NUM
economy-1236	467	16	.	.	PUNCT
economy-1236	468	1	wright	wright	PROPN
economy-1236	468	2	,	,	PUNCT
economy-1236	468	3	d.w	d.w	PROPN
economy-1236	468	4	.	.	PROPN
economy-1236	468	5	,	,	PUNCT
economy-1236	468	6	1996	1996	NUM
economy-1236	468	7	.	.	PUNCT
economy-1236	469	1	evidence	evidence	NOUN
economy-1236	469	2	on	on	ADP
economy-1236	469	3	the	the	DET
economy-1236	469	4	relation	relation	NOUN
economy-1236	469	5	between	between	ADP
economy-1236	469	6	corporate	corporate	ADJ
economy-1236	469	7	governance	governance	NOUN
economy-1236	469	8	characteristics	characteristic	NOUN
economy-1236	469	9	and	and	CCONJ
economy-1236	469	10	the	the	DET
economy-1236	469	11	quality	quality	NOUN
economy-1236	469	12	of	of	ADP
economy-1236	469	13	financial	financial	ADJ
economy-1236	469	14	reporting	reporting	NOUN
economy-1236	469	15	.	.	PUNCT
economy-1236	470	1	working	work	VERB
economy-1236	470	2	paper	paper	NOUN
economy-1236	470	3	,	,	PUNCT
economy-1236	470	4	university	university	PROPN
economy-1236	470	5	of	of	ADP
economy-1236	470	6	michigan	michigan	PROPN
economy-1236	470	7	school	school	PROPN
economy-1236	470	8	of	of	ADP
economy-1236	470	9	business	business	PROPN
economy-1236	470	10	administration	administration	PROPN
economy-1236	470	11	.	.	PUNCT
economy-1236	471	1	research	research	NOUN
economy-1236	471	2	support	support	NOUN
economy-1236	471	3	)	)	PUNCT
economy-1236	471	4	;	;	PUNCT
economy-1236	472	1	-no	-no	X
economy-1236	472	2	.	.	NOUN
economy-1236	472	3	9601	9601	NUM
economy-1236	472	4	-	-	SYM
economy-1236	472	5	18	18	NUM
economy-1236	472	6	.	.	PUNCT
economy-1236	473	1	handle	handle	PROPN
economy-1236	473	2	.	.	PUNCT
economy-1236	474	1	available	available	ADJ
economy-1236	474	2	from	from	ADP
economy-1236	474	3	http://hdl.handle.net/2027.42/36268	http://hdl.handle.net/2027.42/36268	PROPN
economy-1236	474	4	.	.	PUNCT
economy-1236	475	1	yermack	yermack	PROPN
economy-1236	475	2	,	,	PUNCT
economy-1236	475	3	d.	d.	PROPN
economy-1236	475	4	,	,	PUNCT
economy-1236	475	5	1996	1996	NUM
economy-1236	475	6	.	.	PUNCT
economy-1236	476	1	higher	high	ADJ
economy-1236	476	2	market	market	NOUN
economy-1236	476	3	valuation	valuation	NOUN
economy-1236	476	4	of	of	ADP
economy-1236	476	5	companies	company	NOUN
economy-1236	476	6	with	with	ADP
economy-1236	476	7	a	a	DET
economy-1236	476	8	small	small	ADJ
economy-1236	476	9	board	board	NOUN
economy-1236	476	10	of	of	ADP
economy-1236	476	11	directors	director	NOUN
economy-1236	476	12	.	.	PUNCT
economy-1236	477	1	journal	journal	NOUN
economy-1236	477	2	of	of	ADP
economy-1236	477	3	financial	financial	ADJ
economy-1236	477	4	economics	economic	NOUN
economy-1236	477	5	,	,	PUNCT
economy-1236	477	6	40(2	40(2	NUM
economy-1236	477	7	):	):	PUNCT
economy-1236	477	8	185211.available	185211.available	ADJ
economy-1236	477	9	at	at	ADP
economy-1236	477	10	:	:	PUNCT
economy-1236	477	11	https://doi.org/10.1016/0304-405x(95)00844-5	https://doi.org/10.1016/0304-405x(95)00844-5	PROPN
economy-1236	477	12	.	.	PUNCT
economy-1236	477	13	asian	asian	PROPN
economy-1236	477	14	online	online	PROPN
economy-1236	477	15	journal	journal	PROPN
economy-1236	477	16	publishing	publishing	NOUN
economy-1236	477	17	group	group	NOUN
economy-1236	477	18	is	be	AUX
economy-1236	477	19	not	not	PART
economy-1236	477	20	responsible	responsible	ADJ
economy-1236	477	21	or	or	CCONJ
economy-1236	477	22	answerable	answerable	ADJ
economy-1236	477	23	for	for	ADP
economy-1236	477	24	any	any	DET
economy-1236	477	25	loss	loss	NOUN
economy-1236	477	26	,	,	PUNCT
economy-1236	477	27	damage	damage	NOUN
economy-1236	477	28	or	or	CCONJ
economy-1236	477	29	liability	liability	NOUN
economy-1236	477	30	,	,	PUNCT
economy-1236	477	31	etc	etc	X
economy-1236	477	32	.	.	X
economy-1236	477	33	caused	cause	VERB
economy-1236	477	34	in	in	ADP
economy-1236	477	35	relation	relation	NOUN
economy-1236	477	36	to	to	PART
economy-1236	477	37	/	/	PUNCT
economy-1236	477	38	arising	arise	VERB
economy-1236	477	39	out	out	ADP
economy-1236	477	40	of	of	ADP
economy-1236	477	41	the	the	DET
economy-1236	477	42	use	use	NOUN
economy-1236	477	43	of	of	ADP
economy-1236	477	44	the	the	DET
economy-1236	477	45	content	content	NOUN
economy-1236	477	46	.	.	PUNCT
economy-1236	478	1	any	any	DET
economy-1236	478	2	queries	query	NOUN
economy-1236	478	3	should	should	AUX
economy-1236	478	4	be	be	AUX
economy-1236	478	5	directed	direct	VERB
economy-1236	478	6	to	to	ADP
economy-1236	478	7	the	the	DET
economy-1236	478	8	corresponding	corresponding	ADJ
economy-1236	478	9	author	author	NOUN
economy-1236	478	10	of	of	ADP
economy-1236	478	11	the	the	DET
economy-1236	478	12	article	article	NOUN
economy-1236	478	13	.	.	PUNCT