id	sid	tid	token	lemma	pos
easat-3052	1	1	edelweiss	edelweiss	PROPN
easat-3052	1	2	applied	apply	VERB
easat-3052	1	3	science	science	NOUN
easat-3052	1	4	and	and	CCONJ
easat-3052	1	5	technology	technology	NOUN
easat-3052	1	6	issn	issn	PROPN
easat-3052	1	7	:	:	PUNCT
easat-3052	1	8	2576	2576	NUM
easat-3052	1	9	-	-	SYM
easat-3052	1	10	8484	8484	NUM
easat-3052	1	11	vol	vol	NOUN
easat-3052	1	12	.	.	PROPN
easat-3052	1	13	8	8	NUM
easat-3052	1	14	,	,	PUNCT
easat-3052	1	15	no	no	INTJ
easat-3052	1	16	.	.	NOUN
easat-3052	1	17	6	6	NUM
easat-3052	1	18	,	,	PUNCT
easat-3052	1	19	4884	4884	NUM
easat-3052	1	20	-	-	SYM
easat-3052	1	21	4902	4902	NUM
easat-3052	1	22	2024	2024	NUM
easat-3052	1	23	publisher	publisher	NOUN
easat-3052	1	24	:	:	PUNCT
easat-3052	1	25	learning	learn	VERB
easat-3052	1	26	gate	gate	NOUN
easat-3052	1	27	doi	doi	PROPN
easat-3052	1	28	:	:	PUNCT
easat-3052	1	29	10.55214/25768484.v8i6.3052	10.55214/25768484.v8i6.3052	NUM
easat-3052	1	30	©	©	ADP
easat-3052	1	31	2024	2024	NUM
easat-3052	1	32	by	by	ADP
easat-3052	1	33	the	the	DET
easat-3052	1	34	author	author	NOUN
easat-3052	1	35	;	;	PUNCT
easat-3052	1	36	licensee	licensee	PROPN
easat-3052	1	37	learning	learning	NOUN
easat-3052	1	38	gate	gate	NOUN
easat-3052	1	39	©	©	PROPN
easat-3052	1	40	2024	2024	NUM
easat-3052	1	41	by	by	ADP
easat-3052	1	42	the	the	DET
easat-3052	1	43	author	author	NOUN
easat-3052	1	44	;	;	PUNCT
easat-3052	1	45	licensee	licensee	PROPN
easat-3052	1	46	learning	learn	VERB
easat-3052	1	47	gate	gate	NOUN
easat-3052	1	48	*	*	PUNCT
easat-3052	1	49	correspondence	correspondence	NOUN
easat-3052	1	50	:	:	PUNCT
easat-3052	1	51	elvis.xhori@kulogos.edu.al	elvis.xhori@kulogos.edu.al	PROPN
easat-3052	1	52	capital	capital	NOUN
easat-3052	1	53	structure	structure	NOUN
easat-3052	1	54	decisions	decision	NOUN
easat-3052	1	55	:	:	PUNCT
easat-3052	1	56	empirical	empirical	ADJ
easat-3052	1	57	evidence	evidence	NOUN
easat-3052	1	58	from	from	ADP
easat-3052	1	59	albanian	albanian	ADJ
easat-3052	1	60	non	non	ADJ
easat-3052	1	61	-	-	ADJ
easat-3052	1	62	financial	financial	ADJ
easat-3052	1	63	companies	company	NOUN
easat-3052	1	64	elvis	elvis	NOUN
easat-3052	1	65	xhori1	xhori1	PROPN
easat-3052	2	1	*	*	PROPN
easat-3052	3	1	1finance	1finance	NUM
easat-3052	3	2	and	and	CCONJ
easat-3052	3	3	accounting	accounting	NOUN
easat-3052	3	4	department	department	PROPN
easat-3052	3	5	,	,	PUNCT
easat-3052	3	6	logos	logo	NOUN
easat-3052	3	7	university	university	PROPN
easat-3052	3	8	college	college	NOUN
easat-3052	3	9	,	,	PUNCT
easat-3052	3	10	albania	albania	PROPN
easat-3052	3	11	,	,	PUNCT
easat-3052	3	12	mediterranean	mediterranean	PROPN
easat-3052	3	13	university	university	PROPN
easat-3052	3	14	of	of	ADP
easat-3052	3	15	albania	albania	PROPN
easat-3052	3	16	,	,	PUNCT
easat-3052	3	17	albania	albania	PROPN
easat-3052	3	18	;	;	PUNCT
easat-3052	3	19	elvis.xhori@kulogos.edu.al	elvis.xhori@kulogos.edu.al	PROPN
easat-3052	3	20	(	(	PUNCT
easat-3052	3	21	e.x	e.x	PROPN
easat-3052	3	22	.	.	PROPN
easat-3052	3	23	)	)	PUNCT
easat-3052	3	24	.	.	PUNCT
easat-3052	4	1	abstract	abstract	ADJ
easat-3052	4	2	:	:	PUNCT
easat-3052	4	3	well	well	ADV
easat-3052	4	4	-	-	PUNCT
easat-3052	4	5	structured	structure	VERB
easat-3052	4	6	existing	exist	VERB
easat-3052	4	7	companies	company	NOUN
easat-3052	4	8	need	need	VERB
easat-3052	4	9	continuous	continuous	ADJ
easat-3052	4	10	sources	source	NOUN
easat-3052	4	11	of	of	ADP
easat-3052	4	12	financing	financing	NOUN
easat-3052	4	13	from	from	ADP
easat-3052	4	14	the	the	DET
easat-3052	4	15	moment	moment	NOUN
easat-3052	4	16	of	of	ADP
easat-3052	4	17	creation	creation	NOUN
easat-3052	4	18	until	until	ADP
easat-3052	4	19	their	their	PRON
easat-3052	4	20	continuation	continuation	NOUN
easat-3052	4	21	,	,	PUNCT
easat-3052	4	22	to	to	PART
easat-3052	4	23	finance	finance	VERB
easat-3052	4	24	growth	growth	NOUN
easat-3052	4	25	in	in	ADP
easat-3052	4	26	sustainable	sustainable	ADJ
easat-3052	4	27	assets	asset	NOUN
easat-3052	4	28	and	and	CCONJ
easat-3052	4	29	,	,	PUNCT
easat-3052	4	30	above	above	ADP
easat-3052	4	31	all	all	PRON
easat-3052	4	32	,	,	PUNCT
easat-3052	4	33	the	the	DET
easat-3052	4	34	value	value	NOUN
easat-3052	4	35	of	of	ADP
easat-3052	4	36	their	their	PRON
easat-3052	4	37	shares	share	NOUN
easat-3052	4	38	.	.	PUNCT
easat-3052	5	1	understanding	understand	VERB
easat-3052	5	2	the	the	DET
easat-3052	5	3	capital	capital	NOUN
easat-3052	5	4	structure	structure	NOUN
easat-3052	5	5	helps	help	VERB
easat-3052	5	6	managers	manager	NOUN
easat-3052	5	7	create	create	VERB
easat-3052	5	8	the	the	DET
easat-3052	5	9	optimal	optimal	ADJ
easat-3052	5	10	capital	capital	NOUN
easat-3052	5	11	structure	structure	NOUN
easat-3052	5	12	for	for	ADP
easat-3052	5	13	the	the	DET
easat-3052	5	14	company	company	NOUN
easat-3052	5	15	.	.	PUNCT
easat-3052	6	1	the	the	DET
easat-3052	6	2	capital	capital	NOUN
easat-3052	6	3	structure	structure	NOUN
easat-3052	6	4	of	of	ADP
easat-3052	6	5	firms	firm	NOUN
easat-3052	6	6	is	be	AUX
easat-3052	6	7	an	an	DET
easat-3052	6	8	important	important	ADJ
easat-3052	6	9	research	research	NOUN
easat-3052	6	10	area	area	NOUN
easat-3052	6	11	in	in	ADP
easat-3052	6	12	corporate	corporate	ADJ
easat-3052	6	13	finance	finance	NOUN
easat-3052	6	14	and	and	CCONJ
easat-3052	6	15	remains	remain	VERB
easat-3052	6	16	at	at	ADP
easat-3052	6	17	the	the	DET
easat-3052	6	18	center	center	NOUN
easat-3052	6	19	of	of	ADP
easat-3052	6	20	studies	study	NOUN
easat-3052	6	21	by	by	ADP
easat-3052	6	22	various	various	ADJ
easat-3052	6	23	academics	academic	NOUN
easat-3052	6	24	.	.	PUNCT
easat-3052	7	1	however	however	ADV
easat-3052	7	2	,	,	PUNCT
easat-3052	7	3	most	most	ADJ
easat-3052	7	4	studies	study	NOUN
easat-3052	7	5	have	have	AUX
easat-3052	7	6	focused	focus	VERB
easat-3052	7	7	on	on	ADP
easat-3052	7	8	listed	list	VERB
easat-3052	7	9	companies	company	NOUN
easat-3052	7	10	in	in	ADP
easat-3052	7	11	developed	develop	VERB
easat-3052	7	12	countries	country	NOUN
easat-3052	7	13	,	,	PUNCT
easat-3052	7	14	and	and	CCONJ
easat-3052	7	15	little	little	ADJ
easat-3052	7	16	attention	attention	NOUN
easat-3052	7	17	has	have	AUX
easat-3052	7	18	been	be	AUX
easat-3052	7	19	paid	pay	VERB
easat-3052	7	20	to	to	ADP
easat-3052	7	21	unlisted	unlisted	ADJ
easat-3052	7	22	firms	firm	NOUN
easat-3052	7	23	in	in	ADP
easat-3052	7	24	developing	develop	VERB
easat-3052	7	25	countries	country	NOUN
easat-3052	7	26	,	,	PUNCT
easat-3052	7	27	such	such	ADJ
easat-3052	7	28	as	as	ADP
easat-3052	7	29	albania	albania	PROPN
easat-3052	7	30	.	.	PUNCT
easat-3052	8	1	this	this	DET
easat-3052	8	2	study	study	NOUN
easat-3052	8	3	aims	aim	VERB
easat-3052	8	4	to	to	PART
easat-3052	8	5	bridge	bridge	VERB
easat-3052	8	6	the	the	DET
easat-3052	8	7	gap	gap	NOUN
easat-3052	8	8	between	between	ADP
easat-3052	8	9	decision	decision	NOUN
easat-3052	8	10	-	-	PUNCT
easat-3052	8	11	making	make	VERB
easat-3052	8	12	management	management	NOUN
easat-3052	8	13	and	and	CCONJ
easat-3052	8	14	its	its	PRON
easat-3052	8	15	financial	financial	ADJ
easat-3052	8	16	effectiveness	effectiveness	NOUN
easat-3052	8	17	by	by	ADP
easat-3052	8	18	analyzing	analyze	VERB
easat-3052	8	19	the	the	DET
easat-3052	8	20	capital	capital	NOUN
easat-3052	8	21	structure	structure	NOUN
easat-3052	8	22	of	of	ADP
easat-3052	8	23	unlisted	unlisted	ADJ
easat-3052	8	24	companies	company	NOUN
easat-3052	8	25	in	in	ADP
easat-3052	8	26	albania	albania	PROPN
easat-3052	8	27	.	.	PUNCT
easat-3052	9	1	the	the	DET
easat-3052	9	2	proposed	propose	VERB
easat-3052	9	3	research	research	NOUN
easat-3052	9	4	question	question	NOUN
easat-3052	9	5	is	be	AUX
easat-3052	9	6	“	"	PUNCT
easat-3052	9	7	what	what	PRON
easat-3052	9	8	are	be	AUX
easat-3052	9	9	the	the	DET
easat-3052	9	10	main	main	ADJ
easat-3052	9	11	factors	factor	NOUN
easat-3052	9	12	influencing	influence	VERB
easat-3052	9	13	the	the	DET
easat-3052	9	14	capital	capital	NOUN
easat-3052	9	15	structure	structure	NOUN
easat-3052	9	16	decision	decision	NOUN
easat-3052	9	17	of	of	ADP
easat-3052	9	18	non	non	ADJ
easat-3052	9	19	financial	financial	ADJ
easat-3052	9	20	companies	company	NOUN
easat-3052	9	21	in	in	ADP
easat-3052	9	22	the	the	DET
easat-3052	9	23	tirana	tirana	ADJ
easat-3052	9	24	region	region	NOUN
easat-3052	9	25	?	?	PUNCT
easat-3052	9	26	”	"	PUNCT
easat-3052	10	1	based	base	VERB
easat-3052	10	2	on	on	ADP
easat-3052	10	3	previous	previous	ADJ
easat-3052	10	4	studies	study	NOUN
easat-3052	10	5	,	,	PUNCT
easat-3052	10	6	this	this	DET
easat-3052	10	7	paper	paper	NOUN
easat-3052	10	8	examines	examine	VERB
easat-3052	10	9	several	several	ADJ
easat-3052	10	10	of	of	ADP
easat-3052	10	11	the	the	DET
easat-3052	10	12	main	main	ADJ
easat-3052	10	13	factors	factor	NOUN
easat-3052	10	14	(	(	PUNCT
easat-3052	10	15	determinants	determinant	NOUN
easat-3052	10	16	)	)	PUNCT
easat-3052	10	17	that	that	PRON
easat-3052	10	18	are	be	AUX
easat-3052	10	19	believed	believe	VERB
easat-3052	10	20	to	to	PART
easat-3052	10	21	reliably	reliably	ADV
easat-3052	10	22	influence	influence	VERB
easat-3052	10	23	the	the	DET
easat-3052	10	24	capital	capital	NOUN
easat-3052	10	25	structure	structure	NOUN
easat-3052	10	26	.	.	PUNCT
easat-3052	11	1	the	the	DET
easat-3052	11	2	specific	specific	ADJ
easat-3052	11	3	key	key	ADJ
easat-3052	11	4	factors	factor	NOUN
easat-3052	11	5	analyzed	analyze	VERB
easat-3052	11	6	in	in	ADP
easat-3052	11	7	this	this	DET
easat-3052	11	8	study	study	NOUN
easat-3052	11	9	are	be	AUX
easat-3052	11	10	:	:	PUNCT
easat-3052	11	11	performance	performance	NOUN
easat-3052	11	12	,	,	PUNCT
easat-3052	11	13	asset	asset	NOUN
easat-3052	11	14	tangibility	tangibility	NOUN
easat-3052	11	15	,	,	PUNCT
easat-3052	11	16	company	company	NOUN
easat-3052	11	17	liquidity	liquidity	NOUN
easat-3052	11	18	,	,	PUNCT
easat-3052	11	19	company	company	NOUN
easat-3052	11	20	size	size	NOUN
easat-3052	11	21	,	,	PUNCT
easat-3052	11	22	financial	financial	ADJ
easat-3052	11	23	flexibility	flexibility	NOUN
easat-3052	11	24	,	,	PUNCT
easat-3052	11	25	tax	tax	NOUN
easat-3052	11	26	benefits	benefit	NOUN
easat-3052	11	27	from	from	ADP
easat-3052	11	28	non	non	ADJ
easat-3052	11	29	-	-	ADJ
easat-3052	11	30	debt	debt	ADJ
easat-3052	11	31	expenses	expense	NOUN
easat-3052	11	32	,	,	PUNCT
easat-3052	11	33	growth	growth	NOUN
easat-3052	11	34	opportunities	opportunity	NOUN
easat-3052	11	35	,	,	PUNCT
easat-3052	11	36	company	company	NOUN
easat-3052	11	37	age	age	NOUN
easat-3052	11	38	,	,	PUNCT
easat-3052	11	39	and	and	CCONJ
easat-3052	11	40	the	the	DET
easat-3052	11	41	one	one	NUM
easat-3052	11	42	period	period	NOUN
easat-3052	11	43	lagged	lag	VERB
easat-3052	11	44	debt	debt	NOUN
easat-3052	11	45	ratio	ratio	NOUN
easat-3052	11	46	.	.	PUNCT
easat-3052	12	1	we	we	PRON
easat-3052	12	2	focus	focus	VERB
easat-3052	12	3	our	our	PRON
easat-3052	12	4	study	study	NOUN
easat-3052	12	5	unto	unto	ADP
easat-3052	12	6	75	75	NUM
easat-3052	12	7	non	non	X
easat-3052	12	8	financial	financial	ADJ
easat-3052	12	9	companies	company	NOUN
easat-3052	12	10	of	of	ADP
easat-3052	12	11	albania	albania	PROPN
easat-3052	12	12	for	for	ADP
easat-3052	12	13	years	year	NOUN
easat-3052	12	14	to	to	ADP
easat-3052	12	15	2019	2019	NUM
easat-3052	12	16	–	–	PUNCT
easat-3052	12	17	2023	2023	NUM
easat-3052	12	18	,	,	PUNCT
easat-3052	12	19	and	and	CCONJ
easat-3052	12	20	by	by	ADP
easat-3052	12	21	calculating	calculate	VERB
easat-3052	12	22	variables	variable	NOUN
easat-3052	12	23	to	to	PART
easat-3052	12	24	measure	measure	VERB
easat-3052	12	25	capital	capital	NOUN
easat-3052	12	26	structure	structure	NOUN
easat-3052	12	27	,	,	PUNCT
easat-3052	12	28	we	we	PRON
easat-3052	12	29	run	run	VERB
easat-3052	12	30	multiple	multiple	ADJ
easat-3052	12	31	regression	regression	NOUN
easat-3052	12	32	analysis	analysis	NOUN
easat-3052	12	33	.	.	PUNCT
easat-3052	13	1	we	we	PRON
easat-3052	13	2	use	use	VERB
easat-3052	13	3	total	total	ADJ
easat-3052	13	4	debt	debt	NOUN
easat-3052	13	5	,	,	PUNCT
easat-3052	13	6	long	long	ADJ
easat-3052	13	7	term	term	NOUN
easat-3052	13	8	debt	debt	NOUN
easat-3052	13	9	and	and	CCONJ
easat-3052	13	10	short	short	ADJ
easat-3052	13	11	-	-	PUNCT
easat-3052	13	12	term	term	NOUN
easat-3052	13	13	debt	debt	NOUN
easat-3052	13	14	to	to	PART
easat-3052	13	15	measure	measure	VERB
easat-3052	13	16	capital	capital	NOUN
easat-3052	13	17	structure	structure	NOUN
easat-3052	13	18	.	.	PUNCT
easat-3052	14	1	the	the	DET
easat-3052	14	2	results	result	NOUN
easat-3052	14	3	of	of	ADP
easat-3052	14	4	the	the	DET
easat-3052	14	5	study	study	NOUN
easat-3052	14	6	will	will	AUX
easat-3052	14	7	be	be	AUX
easat-3052	14	8	confirmed	confirm	VERB
easat-3052	14	9	through	through	ADP
easat-3052	14	10	analysis	analysis	NOUN
easat-3052	14	11	of	of	ADP
easat-3052	14	12	empirical	empirical	ADJ
easat-3052	14	13	models	model	NOUN
easat-3052	14	14	and	and	CCONJ
easat-3052	14	15	other	other	ADJ
easat-3052	14	16	statistical	statistical	ADJ
easat-3052	14	17	measurements	measurement	NOUN
easat-3052	14	18	.	.	PUNCT
easat-3052	15	1	the	the	DET
easat-3052	15	2	linear	linear	ADJ
easat-3052	15	3	regression	regression	NOUN
easat-3052	15	4	model	model	NOUN
easat-3052	15	5	of	of	ADP
easat-3052	15	6	multiple	multiple	ADJ
easat-3052	15	7	variables	variable	NOUN
easat-3052	15	8	will	will	AUX
easat-3052	15	9	be	be	AUX
easat-3052	15	10	tested	test	VERB
easat-3052	15	11	using	use	VERB
easat-3052	15	12	three	three	NUM
easat-3052	15	13	econometric	econometric	ADJ
easat-3052	15	14	techniques	technique	NOUN
easat-3052	15	15	:	:	PUNCT
easat-3052	15	16	pols	pol	NOUN
easat-3052	15	17	,	,	PUNCT
easat-3052	15	18	fem	fem	NOUN
easat-3052	15	19	,	,	PUNCT
easat-3052	15	20	and	and	CCONJ
easat-3052	15	21	rem	rem	X
easat-3052	15	22	.	.	PUNCT
easat-3052	16	1	the	the	DET
easat-3052	16	2	results	result	NOUN
easat-3052	16	3	indicate	indicate	VERB
easat-3052	16	4	that	that	PRON
easat-3052	16	5	lagged	lag	VERB
easat-3052	16	6	debt	debt	NOUN
easat-3052	16	7	ratio	ratio	NOUN
easat-3052	16	8	of	of	ADP
easat-3052	16	9	td	td	PROPN
easat-3052	16	10	,	,	PUNCT
easat-3052	16	11	ltd	ltd	PROPN
easat-3052	16	12	,	,	PUNCT
easat-3052	16	13	std	std	PROPN
easat-3052	16	14	,	,	PUNCT
easat-3052	16	15	roa	roa	PROPN
easat-3052	16	16	,	,	PUNCT
easat-3052	16	17	roe	roe	NOUN
easat-3052	16	18	,	,	PUNCT
easat-3052	16	19	growth	growth	NOUN
easat-3052	16	20	opportunity	opportunity	NOUN
easat-3052	16	21	and	and	CCONJ
easat-3052	16	22	liquidity	liquidity	NOUN
easat-3052	16	23	are	be	AUX
easat-3052	16	24	statistically	statistically	ADV
easat-3052	16	25	significant	significant	ADJ
easat-3052	16	26	and	and	CCONJ
easat-3052	16	27	support	support	NOUN
easat-3052	16	28	for	for	ADP
easat-3052	16	29	the	the	DET
easat-3052	16	30	pecking	pecking	NOUN
easat-3052	16	31	order	order	NOUN
easat-3052	16	32	theory	theory	NOUN
easat-3052	16	33	(	(	PUNCT
easat-3052	16	34	pot	pot	NOUN
easat-3052	16	35	)	)	PUNCT
easat-3052	16	36	.	.	PUNCT
easat-3052	17	1	the	the	DET
easat-3052	17	2	results	result	NOUN
easat-3052	17	3	show	show	VERB
easat-3052	17	4	that	that	SCONJ
easat-3052	17	5	firms	firm	NOUN
easat-3052	17	6	do	do	AUX
easat-3052	17	7	not	not	PART
easat-3052	17	8	have	have	VERB
easat-3052	17	9	an	an	DET
easat-3052	17	10	optimal	optimal	ADJ
easat-3052	17	11	capital	capital	NOUN
easat-3052	17	12	structure	structure	NOUN
easat-3052	17	13	,	,	PUNCT
easat-3052	17	14	but	but	CCONJ
easat-3052	17	15	they	they	PRON
easat-3052	17	16	had	have	VERB
easat-3052	17	17	an	an	DET
easat-3052	17	18	average	average	NOUN
easat-3052	17	19	of	of	ADP
easat-3052	17	20	55.73	55.73	NUM
easat-3052	17	21	percent	percent	NOUN
easat-3052	17	22	total	total	ADJ
easat-3052	17	23	-	-	PUNCT
easat-3052	17	24	term	term	NOUN
easat-3052	17	25	debt	debt	NOUN
easat-3052	17	26	,	,	PUNCT
easat-3052	17	27	15.27	15.27	NUM
easat-3052	17	28	percent	percent	NOUN
easat-3052	17	29	long	long	ADJ
easat-3052	17	30	-	-	PUNCT
easat-3052	17	31	term	term	NOUN
easat-3052	17	32	debt	debt	NOUN
easat-3052	17	33	and	and	CCONJ
easat-3052	17	34	40.46	40.46	NUM
easat-3052	17	35	percent	percent	NOUN
easat-3052	17	36	short	short	ADJ
easat-3052	17	37	-	-	PUNCT
easat-3052	17	38	term	term	NOUN
easat-3052	17	39	debt	debt	NOUN
easat-3052	17	40	.	.	PUNCT
easat-3052	18	1	trade	trade	NOUN
easat-3052	18	2	-	-	PUNCT
easat-3052	18	3	off	off	ADP
easat-3052	18	4	theory	theory	NOUN
easat-3052	18	5	which	which	PRON
easat-3052	18	6	argues	argue	VERB
easat-3052	18	7	that	that	SCONJ
easat-3052	18	8	firms	firm	NOUN
easat-3052	18	9	increase	increase	VERB
easat-3052	18	10	the	the	DET
easat-3052	18	11	level	level	NOUN
easat-3052	18	12	of	of	ADP
easat-3052	18	13	debt	debt	NOUN
easat-3052	18	14	to	to	PART
easat-3052	18	15	take	take	VERB
easat-3052	18	16	benefit	benefit	NOUN
easat-3052	18	17	from	from	ADP
easat-3052	18	18	the	the	DET
easat-3052	18	19	deduction	deduction	NOUN
easat-3052	18	20	of	of	ADP
easat-3052	18	21	debt	debt	NOUN
easat-3052	18	22	interest	interest	NOUN
easat-3052	18	23	before	before	ADP
easat-3052	18	24	tax	tax	NOUN
easat-3052	18	25	is	be	AUX
easat-3052	18	26	not	not	PART
easat-3052	18	27	applicable	applicable	ADJ
easat-3052	18	28	in	in	ADP
easat-3052	18	29	albania	albania	PROPN
easat-3052	18	30	.	.	PUNCT
easat-3052	19	1	these	these	DET
easat-3052	19	2	findings	finding	NOUN
easat-3052	19	3	contribute	contribute	VERB
easat-3052	19	4	to	to	ADP
easat-3052	19	5	the	the	DET
easat-3052	19	6	existing	exist	VERB
easat-3052	19	7	literature	literature	NOUN
easat-3052	19	8	on	on	ADP
easat-3052	19	9	the	the	DET
easat-3052	19	10	relationship	relationship	NOUN
easat-3052	19	11	between	between	ADP
easat-3052	19	12	capital	capital	NOUN
easat-3052	19	13	structure	structure	NOUN
easat-3052	19	14	and	and	CCONJ
easat-3052	19	15	decision	decision	NOUN
easat-3052	19	16	making	making	NOUN
easat-3052	19	17	and	and	CCONJ
easat-3052	19	18	give	give	VERB
easat-3052	19	19	hints	hint	NOUN
easat-3052	19	20	to	to	ADP
easat-3052	19	21	more	more	ADV
easat-3052	19	22	profitable	profitable	ADJ
easat-3052	19	23	ways	way	NOUN
easat-3052	19	24	of	of	ADP
easat-3052	19	25	financing	financing	NOUN
easat-3052	19	26	for	for	ADP
easat-3052	19	27	these	these	DET
easat-3052	19	28	companies	company	NOUN
easat-3052	19	29	such	such	ADJ
easat-3052	19	30	as	as	ADP
easat-3052	19	31	relying	rely	VERB
easat-3052	19	32	on	on	ADP
easat-3052	19	33	long	long	ADJ
easat-3052	19	34	-	-	PUNCT
easat-3052	19	35	term	term	NOUN
easat-3052	19	36	financing	financing	NOUN
easat-3052	19	37	and	and	CCONJ
easat-3052	19	38	not	not	PART
easat-3052	19	39	only	only	ADV
easat-3052	19	40	on	on	ADP
easat-3052	19	41	short	short	ADJ
easat-3052	19	42	term	term	NOUN
easat-3052	19	43	or	or	CCONJ
easat-3052	19	44	finding	find	VERB
easat-3052	19	45	alternative	alternative	ADJ
easat-3052	19	46	ways	way	NOUN
easat-3052	19	47	in	in	ADP
easat-3052	19	48	equity	equity	NOUN
easat-3052	19	49	financing	financing	NOUN
easat-3052	19	50	.	.	PUNCT
easat-3052	20	1	keywords	keyword	NOUN
easat-3052	20	2	:	:	PUNCT
easat-3052	20	3	capital	capital	NOUN
easat-3052	20	4	structure	structure	NOUN
easat-3052	20	5	,	,	PUNCT
easat-3052	20	6	fixed	fix	VERB
easat-3052	20	7	effect	effect	NOUN
easat-3052	20	8	,	,	PUNCT
easat-3052	20	9	panel	panel	NOUN
easat-3052	20	10	data	datum	NOUN
easat-3052	20	11	,	,	PUNCT
easat-3052	20	12	pecking	pecking	NOUN
easat-3052	20	13	order	order	NOUN
easat-3052	20	14	theory	theory	NOUN
easat-3052	20	15	,	,	PUNCT
easat-3052	20	16	trade	trade	VERB
easat-3052	20	17	off	off	ADP
easat-3052	20	18	theory	theory	NOUN
easat-3052	20	19	.	.	PUNCT
easat-3052	21	1	1	1	X
easat-3052	21	2	.	.	X
easat-3052	21	3	introduction	introduction	NOUN
easat-3052	21	4	the	the	DET
easat-3052	21	5	issue	issue	NOUN
easat-3052	21	6	of	of	ADP
easat-3052	21	7	firms	firm	NOUN
easat-3052	21	8	'	'	PART
easat-3052	21	9	capital	capital	NOUN
easat-3052	21	10	structure	structure	NOUN
easat-3052	21	11	remains	remain	VERB
easat-3052	21	12	an	an	DET
easat-3052	21	13	enigmatic	enigmatic	ADJ
easat-3052	21	14	question	question	NOUN
easat-3052	21	15	for	for	ADP
easat-3052	21	16	academics	academic	NOUN
easat-3052	21	17	worldwide	worldwide	ADV
easat-3052	21	18	.	.	PUNCT
easat-3052	22	1	following	follow	VERB
easat-3052	22	2	the	the	DET
easat-3052	22	3	proposition	proposition	NOUN
easat-3052	22	4	of	of	ADP
easat-3052	22	5	modigliani	modigliani	PROPN
easat-3052	22	6	and	and	CCONJ
easat-3052	22	7	miller	miller	PROPN
easat-3052	22	8	's	's	PART
easat-3052	22	9	"	"	PUNCT
easat-3052	22	10	irrelevance	irrelevance	NOUN
easat-3052	22	11	theorem	theorem	NOUN
easat-3052	22	12	"	"	PUNCT
easat-3052	22	13	(	(	PUNCT
easat-3052	22	14	1958	1958	NUM
easat-3052	22	15	)	)	PUNCT
easat-3052	23	1	[	[	X
easat-3052	23	2	34	34	NUM
easat-3052	23	3	,	,	PUNCT
easat-3052	23	4	35	35	NUM
easat-3052	23	5	]	]	PUNCT
easat-3052	23	6	,	,	PUNCT
easat-3052	23	7	a	a	DET
easat-3052	23	8	vast	vast	ADJ
easat-3052	23	9	and	and	CCONJ
easat-3052	23	10	diverse	diverse	ADJ
easat-3052	23	11	literature	literature	NOUN
easat-3052	23	12	has	have	AUX
easat-3052	23	13	emerged	emerge	VERB
easat-3052	23	14	,	,	PUNCT
easat-3052	23	15	attempting	attempt	VERB
easat-3052	23	16	to	to	PART
easat-3052	23	17	address	address	VERB
easat-3052	23	18	specific	specific	ADJ
easat-3052	23	19	market	market	NOUN
easat-3052	23	20	imperfections	imperfection	NOUN
easat-3052	23	21	,	,	PUNCT
easat-3052	23	22	primarily	primarily	ADV
easat-3052	23	23	taxes	taxis	NOUN
easat-3052	23	24	,	,	PUNCT
easat-3052	23	25	bankruptcy	bankruptcy	NOUN
easat-3052	23	26	costs	cost	NOUN
easat-3052	23	27	,	,	PUNCT
easat-3052	23	28	agency	agency	NOUN
easat-3052	23	29	conflicts	conflict	NOUN
easat-3052	23	30	,	,	PUNCT
easat-3052	23	31	and	and	CCONJ
easat-3052	23	32	asymmetric	asymmetric	ADJ
easat-3052	23	33	information	information	NOUN
easat-3052	23	34	to	to	PART
easat-3052	23	35	explain	explain	VERB
easat-3052	23	36	its	its	PRON
easat-3052	23	37	features	feature	NOUN
easat-3052	23	38	.	.	PUNCT
easat-3052	24	1	a	a	DET
easat-3052	24	2	combination	combination	NOUN
easat-3052	24	3	of	of	ADP
easat-3052	24	4	common	common	ADJ
easat-3052	24	5	stocks	stock	NOUN
easat-3052	24	6	,	,	PUNCT
easat-3052	24	7	preferred	preferred	ADJ
easat-3052	24	8	shares	share	NOUN
easat-3052	24	9	of	of	ADP
easat-3052	24	10	the	the	DET
easat-3052	24	11	company	company	NOUN
easat-3052	24	12	,	,	PUNCT
easat-3052	24	13	long	long	ADJ
easat-3052	24	14	-	-	PUNCT
easat-3052	24	15	term	term	NOUN
easat-3052	24	16	and	and	CCONJ
easat-3052	24	17	short	short	ADJ
easat-3052	24	18	-	-	PUNCT
easat-3052	24	19	term	term	NOUN
easat-3052	24	20	liabilities	liability	NOUN
easat-3052	24	21	,	,	PUNCT
easat-3052	24	22	and	and	CCONJ
easat-3052	24	23	other	other	ADJ
easat-3052	24	24	financial	financial	ADJ
easat-3052	24	25	instruments	instrument	NOUN
easat-3052	24	26	make	make	VERB
easat-3052	24	27	up	up	ADP
easat-3052	24	28	the	the	DET
easat-3052	24	29	capital	capital	NOUN
easat-3052	24	30	structure	structure	NOUN
easat-3052	24	31	.	.	PUNCT
easat-3052	25	1	even	even	ADV
easat-3052	25	2	though	though	SCONJ
easat-3052	25	3	a	a	DET
easat-3052	25	4	lot	lot	NOUN
easat-3052	25	5	of	of	ADP
easat-3052	25	6	research	research	NOUN
easat-3052	25	7	has	have	AUX
easat-3052	25	8	been	be	AUX
easat-3052	25	9	done	do	VERB
easat-3052	25	10	to	to	PART
easat-3052	25	11	evaluate	evaluate	VERB
easat-3052	25	12	the	the	DET
easat-3052	25	13	usefulness	usefulness	NOUN
easat-3052	25	14	and	and	CCONJ
easat-3052	25	15	validity	validity	NOUN
easat-3052	25	16	of	of	ADP
easat-3052	25	17	capital	capital	NOUN
easat-3052	25	18	structure	structure	NOUN
easat-3052	25	19	theories	theory	NOUN
easat-3052	25	20	,	,	PUNCT
easat-3052	25	21	it	it	PRON
easat-3052	25	22	is	be	AUX
easat-3052	25	23	still	still	ADV
easat-3052	25	24	one	one	NUM
easat-3052	25	25	of	of	ADP
easat-3052	25	26	the	the	DET
easat-3052	25	27	most	most	ADV
easat-3052	25	28	hotly	hotly	ADV
easat-3052	25	29	4885	4885	NUM
easat-3052	25	30	edelweiss	edelweiss	PROPN
easat-3052	25	31	applied	apply	VERB
easat-3052	25	32	science	science	NOUN
easat-3052	25	33	and	and	CCONJ
easat-3052	25	34	technology	technology	NOUN
easat-3052	25	35	issn	issn	PROPN
easat-3052	25	36	:	:	PUNCT
easat-3052	25	37	2576	2576	NUM
easat-3052	25	38	-	-	SYM
easat-3052	25	39	8484	8484	NUM
easat-3052	25	40	vol	vol	NOUN
easat-3052	25	41	.	.	PROPN
easat-3052	25	42	8	8	NUM
easat-3052	25	43	,	,	PUNCT
easat-3052	25	44	no	no	INTJ
easat-3052	25	45	.	.	NOUN
easat-3052	26	1	6	6	NUM
easat-3052	26	2	:	:	SYM
easat-3052	26	3	4884	4884	NUM
easat-3052	26	4	-	-	SYM
easat-3052	26	5	4902	4902	NUM
easat-3052	26	6	,	,	PUNCT
easat-3052	26	7	2024	2024	NUM
easat-3052	26	8	doi	doi	NOUN
easat-3052	26	9	:	:	PUNCT
easat-3052	26	10	10.55214/25768484.v8i6.3052	10.55214/25768484.v8i6.3052	NUM
easat-3052	26	11	©	©	ADP
easat-3052	26	12	2024	2024	NUM
easat-3052	26	13	by	by	ADP
easat-3052	26	14	the	the	DET
easat-3052	26	15	author	author	NOUN
easat-3052	26	16	;	;	PUNCT
easat-3052	26	17	licensee	licensee	PROPN
easat-3052	26	18	learning	learn	VERB
easat-3052	26	19	gate	gate	NOUN
easat-3052	26	20	contested	contest	VERB
easat-3052	26	21	subjects	subject	NOUN
easat-3052	26	22	in	in	ADP
easat-3052	26	23	contemporary	contemporary	ADJ
easat-3052	26	24	corporate	corporate	ADJ
easat-3052	26	25	finance	finance	NOUN
easat-3052	26	26	.	.	PUNCT
easat-3052	27	1	when	when	SCONJ
easat-3052	27	2	myers	myers	PROPN
easat-3052	27	3	asked	ask	VERB
easat-3052	27	4	,	,	PUNCT
easat-3052	27	5	"	"	PUNCT
easat-3052	27	6	how	how	SCONJ
easat-3052	27	7	do	do	AUX
easat-3052	27	8	firms	firm	NOUN
easat-3052	27	9	choose	choose	VERB
easat-3052	27	10	their	their	PRON
easat-3052	27	11	capital	capital	NOUN
easat-3052	27	12	structures	structure	NOUN
easat-3052	27	13	?	?	PUNCT
easat-3052	27	14	"	"	PUNCT
easat-3052	27	15	he	he	PRON
easat-3052	27	16	immediately	immediately	ADV
easat-3052	27	17	added	add	VERB
easat-3052	27	18	his	his	PRON
easat-3052	27	19	answer	answer	NOUN
easat-3052	27	20	:	:	PUNCT
easat-3052	27	21	"	"	PUNCT
easat-3052	27	22	we	we	PRON
easat-3052	27	23	do	do	AUX
easat-3052	27	24	n’t	not	PART
easat-3052	27	25	know	know	VERB
easat-3052	27	26	?	?	PUNCT
easat-3052	27	27	"	"	PUNCT
easat-3052	27	28	(	(	PUNCT
easat-3052	27	29	myers	myers	PROPN
easat-3052	27	30	,	,	PUNCT
easat-3052	27	31	1984	1984	NUM
easat-3052	27	32	,	,	PUNCT
easat-3052	27	33	p.	p.	NOUN
easat-3052	27	34	575	575	NUM
easat-3052	27	35	)	)	PUNCT
easat-3052	28	1	[	[	X
easat-3052	28	2	32	32	NUM
easat-3052	28	3	,	,	PUNCT
easat-3052	28	4	33	33	NUM
easat-3052	28	5	]	]	PUNCT
easat-3052	28	6	.	.	PUNCT
easat-3052	29	1	the	the	DET
easat-3052	29	2	question	question	NOUN
easat-3052	29	3	of	of	ADP
easat-3052	29	4	how	how	SCONJ
easat-3052	29	5	companies	company	NOUN
easat-3052	29	6	select	select	VERB
easat-3052	29	7	their	their	PRON
easat-3052	29	8	ideal	ideal	ADJ
easat-3052	29	9	capital	capital	NOUN
easat-3052	29	10	structure	structure	NOUN
easat-3052	29	11	and	and	CCONJ
easat-3052	29	12	what	what	PRON
easat-3052	29	13	the	the	DET
easat-3052	29	14	ideal	ideal	ADJ
easat-3052	29	15	debt	debt	NOUN
easat-3052	29	16	-	-	PUNCT
easat-3052	29	17	equity	equity	NOUN
easat-3052	29	18	ratio	ratio	NOUN
easat-3052	29	19	is	be	AUX
easat-3052	29	20	to	to	PART
easat-3052	29	21	maximize	maximize	VERB
easat-3052	29	22	the	the	DET
easat-3052	29	23	value	value	NOUN
easat-3052	29	24	of	of	ADP
easat-3052	29	25	the	the	DET
easat-3052	29	26	firm	firm	NOUN
easat-3052	29	27	still	still	ADV
easat-3052	29	28	needs	need	VERB
easat-3052	29	29	a	a	DET
easat-3052	29	30	concrete	concrete	ADJ
easat-3052	29	31	answer	answer	NOUN
easat-3052	29	32	today	today	NOUN
easat-3052	29	33	.	.	PUNCT
easat-3052	30	1	despite	despite	SCONJ
easat-3052	30	2	decades	decade	NOUN
easat-3052	30	3	of	of	ADP
easat-3052	30	4	intensive	intensive	ADJ
easat-3052	30	5	research	research	NOUN
easat-3052	30	6	among	among	ADP
easat-3052	30	7	academics	academic	NOUN
easat-3052	30	8	and	and	CCONJ
easat-3052	30	9	financial	financial	ADJ
easat-3052	30	10	managers	manager	NOUN
easat-3052	30	11	,	,	PUNCT
easat-3052	30	12	a	a	DET
easat-3052	30	13	surprising	surprising	ADJ
easat-3052	30	14	lack	lack	NOUN
easat-3052	30	15	of	of	ADP
easat-3052	30	16	consensus	consensus	NOUN
easat-3052	30	17	exists	exist	VERB
easat-3052	30	18	even	even	ADV
easat-3052	30	19	regarding	regard	VERB
easat-3052	30	20	many	many	ADJ
easat-3052	30	21	empirically	empirically	ADV
easat-3052	30	22	known	know	VERB
easat-3052	30	23	facts	fact	NOUN
easat-3052	30	24	.	.	PUNCT
easat-3052	31	1	this	this	PRON
easat-3052	31	2	is	be	AUX
easat-3052	31	3	unfortunate	unfortunate	ADJ
easat-3052	31	4	for	for	ADP
easat-3052	31	5	empirical	empirical	ADJ
easat-3052	31	6	research	research	NOUN
easat-3052	31	7	in	in	ADP
easat-3052	31	8	corporate	corporate	ADJ
easat-3052	31	9	finance	finance	NOUN
easat-3052	31	10	,	,	PUNCT
easat-3052	31	11	as	as	SCONJ
easat-3052	31	12	it	it	PRON
easat-3052	31	13	remains	remain	VERB
easat-3052	31	14	unclear	unclear	ADJ
easat-3052	31	15	what	what	PRON
easat-3052	31	16	consensus	consensus	NOUN
easat-3052	31	17	exists	exist	VERB
easat-3052	31	18	on	on	ADP
easat-3052	31	19	the	the	DET
easat-3052	31	20	factors	factor	NOUN
easat-3052	31	21	to	to	PART
easat-3052	31	22	control	control	VERB
easat-3052	31	23	for	for	ADP
easat-3052	31	24	what	what	PRON
easat-3052	31	25	we	we	PRON
easat-3052	31	26	already	already	ADV
easat-3052	31	27	know	know	VERB
easat-3052	31	28	.	.	PUNCT
easat-3052	32	1	for	for	ADP
easat-3052	32	2	this	this	DET
easat-3052	32	3	reason	reason	NOUN
easat-3052	32	4	,	,	PUNCT
easat-3052	32	5	further	further	ADJ
easat-3052	32	6	empirical	empirical	ADJ
easat-3052	32	7	studies	study	NOUN
easat-3052	32	8	on	on	ADP
easat-3052	32	9	this	this	DET
easat-3052	32	10	issue	issue	NOUN
easat-3052	32	11	have	have	AUX
easat-3052	32	12	been	be	AUX
easat-3052	32	13	and	and	CCONJ
easat-3052	32	14	will	will	AUX
easat-3052	32	15	continue	continue	VERB
easat-3052	32	16	to	to	PART
easat-3052	32	17	be	be	AUX
easat-3052	32	18	conducted	conduct	VERB
easat-3052	32	19	to	to	PART
easat-3052	32	20	bring	bring	VERB
easat-3052	32	21	forth	forth	ADV
easat-3052	32	22	new	new	ADJ
easat-3052	32	23	facts	fact	NOUN
easat-3052	32	24	about	about	ADP
easat-3052	32	25	modern	modern	ADJ
easat-3052	32	26	capital	capital	NOUN
easat-3052	32	27	structure	structure	NOUN
easat-3052	32	28	theories	theory	NOUN
easat-3052	32	29	.	.	PUNCT
easat-3052	33	1	a	a	DET
easat-3052	33	2	quick	quick	ADJ
easat-3052	33	3	survey	survey	NOUN
easat-3052	33	4	of	of	ADP
easat-3052	33	5	the	the	DET
easat-3052	33	6	literature	literature	NOUN
easat-3052	33	7	highlights	highlight	VERB
easat-3052	33	8	broad	broad	ADJ
easat-3052	33	9	academic	academic	ADJ
easat-3052	33	10	interest	interest	NOUN
easat-3052	33	11	,	,	PUNCT
easat-3052	33	12	but	but	CCONJ
easat-3052	33	13	not	not	PART
easat-3052	33	14	exclusively	exclusively	ADV
easat-3052	33	15	,	,	PUNCT
easat-3052	33	16	regarding	regard	VERB
easat-3052	33	17	this	this	DET
easat-3052	33	18	aspect	aspect	NOUN
easat-3052	33	19	.	.	PUNCT
easat-3052	34	1	the	the	DET
easat-3052	34	2	problem	problem	NOUN
easat-3052	34	3	of	of	ADP
easat-3052	34	4	capital	capital	NOUN
easat-3052	34	5	structure	structure	NOUN
easat-3052	34	6	has	have	AUX
easat-3052	34	7	been	be	AUX
easat-3052	34	8	addressed	address	VERB
easat-3052	34	9	,	,	PUNCT
easat-3052	34	10	analyzed	analyze	VERB
easat-3052	34	11	,	,	PUNCT
easat-3052	34	12	and	and	CCONJ
easat-3052	34	13	further	far	ADV
easat-3052	34	14	advanced	advanced	ADJ
easat-3052	34	15	,	,	PUNCT
easat-3052	34	16	incorporating	incorporate	VERB
easat-3052	34	17	new	new	ADJ
easat-3052	34	18	elements	element	NOUN
easat-3052	34	19	not	not	PART
easat-3052	34	20	previously	previously	ADV
easat-3052	34	21	considered	consider	VERB
easat-3052	34	22	by	by	ADP
easat-3052	34	23	the	the	DET
easat-3052	34	24	pioneering	pioneering	ADJ
easat-3052	34	25	foundational	foundational	ADJ
easat-3052	34	26	authors	author	NOUN
easat-3052	34	27	of	of	ADP
easat-3052	34	28	this	this	DET
easat-3052	34	29	theory	theory	NOUN
easat-3052	34	30	,	,	PUNCT
easat-3052	34	31	modigliani	modigliani	PROPN
easat-3052	34	32	and	and	CCONJ
easat-3052	34	33	miller	miller	PROPN
easat-3052	34	34	(	(	PUNCT
easat-3052	34	35	1958	1958	NUM
easat-3052	34	36	)	)	PUNCT
easat-3052	34	37	.	.	PUNCT
easat-3052	35	1	various	various	ADJ
easat-3052	35	2	authors	author	NOUN
easat-3052	35	3	have	have	AUX
easat-3052	35	4	studied	study	VERB
easat-3052	35	5	specific	specific	ADJ
easat-3052	35	6	firm	firm	ADJ
easat-3052	35	7	factors	factor	NOUN
easat-3052	35	8	that	that	PRON
easat-3052	35	9	influence	influence	VERB
easat-3052	35	10	its	its	PRON
easat-3052	35	11	financial	financial	ADJ
easat-3052	35	12	decisions	decision	NOUN
easat-3052	35	13	(	(	PUNCT
easat-3052	35	14	titman	titman	NOUN
easat-3052	35	15	and	and	CCONJ
easat-3052	35	16	wessels	wessels	PROPN
easat-3052	35	17	,	,	PUNCT
easat-3052	35	18	1988	1988	NUM
easat-3052	35	19	;	;	PUNCT
easat-3052	35	20	rajan	rajan	PROPN
easat-3052	35	21	and	and	CCONJ
easat-3052	35	22	zingales	zingale	NOUN
easat-3052	35	23	,	,	PUNCT
easat-3052	35	24	1995	1995	NUM
easat-3052	35	25	;	;	PUNCT
easat-3052	35	26	antoniou	antoniou	PROPN
easat-3052	35	27	et	et	PROPN
easat-3052	35	28	al	al	PROPN
easat-3052	35	29	.	.	PROPN
easat-3052	35	30	,	,	PUNCT
easat-3052	35	31	2002	2002	NUM
easat-3052	35	32	;	;	PUNCT
easat-3052	35	33	frank	frank	PROPN
easat-3052	35	34	and	and	CCONJ
easat-3052	35	35	goyal	goyal	PROPN
easat-3052	35	36	,	,	PUNCT
easat-3052	35	37	2009	2009	NUM
easat-3052	35	38	;	;	PUNCT
easat-3052	35	39	frank	frank	PROPN
easat-3052	35	40	and	and	CCONJ
easat-3052	35	41	goyal	goyal	PROPN
easat-3052	35	42	,	,	PUNCT
easat-3052	35	43	2003	2003	NUM
easat-3052	35	44	,	,	PUNCT
easat-3052	35	45	etc	etc	X
easat-3052	35	46	.	.	X
easat-3052	35	47	)	)	PUNCT
easat-3052	36	1	[	[	X
easat-3052	36	2	12	12	NUM
easat-3052	36	3	-	-	SYM
easat-3052	36	4	15	15	NUM
easat-3052	36	5	]	]	PUNCT
easat-3052	36	6	,	,	PUNCT
easat-3052	36	7	but	but	CCONJ
easat-3052	36	8	internal	internal	ADJ
easat-3052	36	9	country	country	NOUN
easat-3052	36	10	factors	factor	NOUN
easat-3052	36	11	are	be	AUX
easat-3052	36	12	equally	equally	ADV
easat-3052	36	13	important	important	ADJ
easat-3052	36	14	,	,	PUNCT
easat-3052	36	15	alongside	alongside	ADP
easat-3052	36	16	firm	firm	ADJ
easat-3052	36	17	characteristics	characteristic	NOUN
easat-3052	36	18	,	,	PUNCT
easat-3052	36	19	in	in	ADP
easat-3052	36	20	determining	determine	VERB
easat-3052	36	21	its	its	PRON
easat-3052	36	22	financial	financial	ADJ
easat-3052	36	23	leverage	leverage	NOUN
easat-3052	36	24	(	(	PUNCT
easat-3052	36	25	cheng	cheng	PROPN
easat-3052	36	26	and	and	CCONJ
easat-3052	36	27	shiu	shiu	PROPN
easat-3052	36	28	,	,	PUNCT
easat-3052	36	29	2004	2004	NUM
easat-3052	36	30	)	)	PUNCT
easat-3052	36	31	.	.	PUNCT
easat-3052	37	1	macroeconomic	macroeconomic	ADJ
easat-3052	37	2	variables	variable	NOUN
easat-3052	37	3	have	have	AUX
easat-3052	37	4	been	be	AUX
easat-3052	37	5	mentioned	mention	VERB
easat-3052	37	6	as	as	ADP
easat-3052	37	7	important	important	ADJ
easat-3052	37	8	external	external	ADJ
easat-3052	37	9	factors	factor	NOUN
easat-3052	37	10	influencing	influence	VERB
easat-3052	37	11	the	the	DET
easat-3052	37	12	capital	capital	NOUN
easat-3052	37	13	structure	structure	NOUN
easat-3052	37	14	of	of	ADP
easat-3052	37	15	firms	firm	NOUN
easat-3052	37	16	in	in	ADP
easat-3052	37	17	different	different	ADJ
easat-3052	37	18	countries	country	NOUN
easat-3052	37	19	,	,	PUNCT
easat-3052	37	20	despite	despite	SCONJ
easat-3052	37	21	receiving	receive	VERB
easat-3052	37	22	limited	limited	ADJ
easat-3052	37	23	attention	attention	NOUN
easat-3052	37	24	from	from	ADP
easat-3052	37	25	various	various	ADJ
easat-3052	37	26	researchers	researcher	NOUN
easat-3052	37	27	(	(	PUNCT
easat-3052	37	28	abzari	abzari	PROPN
easat-3052	37	29	et	et	PROPN
easat-3052	37	30	al	al	PROPN
easat-3052	37	31	.	.	PROPN
easat-3052	37	32	,	,	PUNCT
easat-3052	37	33	2012	2012	NUM
easat-3052	37	34	)	)	PUNCT
easat-3052	37	35	.	.	PUNCT
easat-3052	38	1	it	it	PRON
easat-3052	38	2	has	have	AUX
easat-3052	38	3	been	be	AUX
easat-3052	38	4	noted	note	VERB
easat-3052	38	5	that	that	SCONJ
easat-3052	38	6	the	the	DET
easat-3052	38	7	level	level	NOUN
easat-3052	38	8	of	of	ADP
easat-3052	38	9	gdp	gdp	NOUN
easat-3052	38	10	growth	growth	NOUN
easat-3052	38	11	,	,	PUNCT
easat-3052	38	12	which	which	PRON
easat-3052	38	13	approximates	approximate	VERB
easat-3052	38	14	the	the	DET
easat-3052	38	15	overall	overall	ADJ
easat-3052	38	16	economic	economic	ADJ
easat-3052	38	17	condition	condition	NOUN
easat-3052	38	18	of	of	ADP
easat-3052	38	19	a	a	DET
easat-3052	38	20	country	country	NOUN
easat-3052	38	21	,	,	PUNCT
easat-3052	38	22	inflation	inflation	NOUN
easat-3052	38	23	rates	rate	NOUN
easat-3052	38	24	,	,	PUNCT
easat-3052	38	25	and	and	CCONJ
easat-3052	38	26	interest	interest	NOUN
easat-3052	38	27	rates	rate	NOUN
easat-3052	38	28	(	(	PUNCT
easat-3052	38	29	measured	measure	VERB
easat-3052	38	30	by	by	ADP
easat-3052	38	31	lending	lending	NOUN
easat-3052	38	32	rates	rate	NOUN
easat-3052	38	33	)	)	PUNCT
easat-3052	38	34	are	be	AUX
easat-3052	38	35	considered	consider	VERB
easat-3052	38	36	significant	significant	ADJ
easat-3052	38	37	factors	factor	NOUN
easat-3052	38	38	that	that	PRON
easat-3052	38	39	substantially	substantially	ADV
easat-3052	38	40	impact	impact	VERB
easat-3052	38	41	the	the	DET
easat-3052	38	42	capital	capital	NOUN
easat-3052	38	43	structure	structure	NOUN
easat-3052	38	44	of	of	ADP
easat-3052	38	45	firms	firm	NOUN
easat-3052	38	46	(	(	PUNCT
easat-3052	38	47	concorou	concorou	NOUN
easat-3052	38	48	,	,	PUNCT
easat-3052	38	49	1977	1977	NUM
easat-3052	38	50	;	;	PUNCT
easat-3052	38	51	gulati	gulati	PROPN
easat-3052	38	52	,	,	PUNCT
easat-3052	38	53	1997	1997	NUM
easat-3052	38	54	;	;	PUNCT
easat-3052	38	55	mateus	mateus	PROPN
easat-3052	38	56	,	,	PUNCT
easat-3052	38	57	2006	2006	NUM
easat-3052	38	58	;	;	PUNCT
easat-3052	38	59	bas	bas	PROPN
easat-3052	38	60	et	et	PROPN
easat-3052	38	61	al	al	PROPN
easat-3052	38	62	.	.	PROPN
easat-3052	38	63	,	,	PUNCT
easat-3052	38	64	2009	2009	NUM
easat-3052	38	65	,	,	PUNCT
easat-3052	38	66	etc	etc	X
easat-3052	38	67	.	.	X
easat-3052	38	68	)	)	PUNCT
easat-3052	38	69	.	.	PUNCT
easat-3052	39	1	in	in	ADP
easat-3052	39	2	some	some	DET
easat-3052	39	3	other	other	ADJ
easat-3052	39	4	studies	study	NOUN
easat-3052	39	5	,	,	PUNCT
easat-3052	39	6	inflation	inflation	NOUN
easat-3052	39	7	rates	rate	NOUN
easat-3052	39	8	have	have	AUX
easat-3052	39	9	also	also	ADV
easat-3052	39	10	been	be	AUX
easat-3052	39	11	proposed	propose	VERB
easat-3052	39	12	as	as	ADP
easat-3052	39	13	a	a	DET
easat-3052	39	14	macroeconomic	macroeconomic	ADJ
easat-3052	39	15	factor	factor	NOUN
easat-3052	39	16	determining	determine	VERB
easat-3052	39	17	the	the	DET
easat-3052	39	18	amount	amount	NOUN
easat-3052	39	19	of	of	ADP
easat-3052	39	20	companies	company	NOUN
easat-3052	39	21	'	'	PART
easat-3052	39	22	debt	debt	NOUN
easat-3052	39	23	(	(	PUNCT
easat-3052	39	24	concorou	concorou	NOUN
easat-3052	39	25	,	,	PUNCT
easat-3052	39	26	1977	1977	NUM
easat-3052	39	27	;	;	PUNCT
easat-3052	39	28	feldstein	feldstein	PROPN
easat-3052	39	29	et	et	PROPN
easat-3052	39	30	al	al	PROPN
easat-3052	39	31	.	.	PROPN
easat-3052	39	32	,	,	PUNCT
easat-3052	39	33	1978	1978	NUM
easat-3052	39	34	;	;	PUNCT
easat-3052	39	35	gulati	gulati	PROPN
easat-3052	39	36	and	and	CCONJ
easat-3052	39	37	zantout	zantout	PROPN
easat-3052	39	38	,	,	PUNCT
easat-3052	39	39	1997	1997	NUM
easat-3052	39	40	;	;	PUNCT
easat-3052	39	41	mateus	mateus	PROPN
easat-3052	39	42	,	,	PUNCT
easat-3052	39	43	2006	2006	NUM
easat-3052	39	44	;	;	PUNCT
easat-3052	39	45	frank	frank	PROPN
easat-3052	39	46	and	and	CCONJ
easat-3052	39	47	goyal	goyal	PROPN
easat-3052	39	48	,	,	PUNCT
easat-3052	39	49	2009	2009	NUM
easat-3052	39	50	;	;	PUNCT
easat-3052	39	51	bas	bas	PROPN
easat-3052	39	52	et	et	PROPN
easat-3052	39	53	al	al	PROPN
easat-3052	39	54	.	.	PROPN
easat-3052	39	55	,	,	PUNCT
easat-3052	39	56	2009	2009	NUM
easat-3052	39	57	)	)	PUNCT
easat-3052	40	1	[	[	X
easat-3052	40	2	12	12	NUM
easat-3052	40	3	-	-	SYM
easat-3052	40	4	19	19	NUM
easat-3052	40	5	]	]	PUNCT
easat-3052	40	6	.	.	PUNCT
easat-3052	41	1	in	in	ADP
easat-3052	41	2	cases	case	NOUN
easat-3052	41	3	of	of	ADP
easat-3052	41	4	high	high	ADJ
easat-3052	41	5	inflation	inflation	NOUN
easat-3052	41	6	,	,	PUNCT
easat-3052	41	7	firms	firm	NOUN
easat-3052	41	8	may	may	AUX
easat-3052	41	9	prefer	prefer	VERB
easat-3052	41	10	short	short	ADJ
easat-3052	41	11	-	-	PUNCT
easat-3052	41	12	term	term	NOUN
easat-3052	41	13	debt	debt	NOUN
easat-3052	41	14	over	over	ADP
easat-3052	41	15	their	their	PRON
easat-3052	41	16	own	own	ADJ
easat-3052	41	17	capital	capital	NOUN
easat-3052	41	18	(	(	PUNCT
easat-3052	41	19	abzari	abzari	PROPN
easat-3052	41	20	et	et	PROPN
easat-3052	41	21	al	al	PROPN
easat-3052	41	22	.	.	PROPN
easat-3052	41	23	,	,	PUNCT
easat-3052	41	24	2012	2012	NUM
easat-3052	41	25	)	)	PUNCT
easat-3052	41	26	.	.	PUNCT
easat-3052	42	1	it	it	PRON
easat-3052	42	2	is	be	AUX
easat-3052	42	3	particularly	particularly	ADV
easat-3052	42	4	noteworthy	noteworthy	ADJ
easat-3052	42	5	that	that	SCONJ
easat-3052	42	6	two	two	NUM
easat-3052	42	7	competing	compete	VERB
easat-3052	42	8	theories	theory	NOUN
easat-3052	42	9	have	have	AUX
easat-3052	42	10	garnered	garner	VERB
easat-3052	42	11	significant	significant	ADJ
easat-3052	42	12	interest	interest	NOUN
easat-3052	42	13	over	over	ADP
easat-3052	42	14	the	the	DET
easat-3052	42	15	years	year	NOUN
easat-3052	42	16	within	within	ADP
easat-3052	42	17	the	the	DET
easat-3052	42	18	context	context	NOUN
easat-3052	42	19	of	of	ADP
easat-3052	42	20	developing	develop	VERB
easat-3052	42	21	economies	economy	NOUN
easat-3052	42	22	:	:	PUNCT
easat-3052	42	23	"	"	PUNCT
easat-3052	42	24	trade	trade	NOUN
easat-3052	42	25	-	-	PUNCT
easat-3052	42	26	off	off	ADP
easat-3052	42	27	theory	theory	NOUN
easat-3052	42	28	"	"	PUNCT
easat-3052	42	29	and	and	CCONJ
easat-3052	42	30	"	"	PUNCT
easat-3052	42	31	pecking	pecking	NOUN
easat-3052	42	32	order	order	NOUN
easat-3052	42	33	theory	theory	NOUN
easat-3052	42	34	.	.	PUNCT
easat-3052	42	35	"	"	PUNCT
easat-3052	43	1	most	most	ADJ
easat-3052	43	2	corporate	corporate	ADJ
easat-3052	43	3	finance	finance	NOUN
easat-3052	43	4	textbooks	textbook	NOUN
easat-3052	43	5	discuss	discuss	VERB
easat-3052	43	6	"	"	PUNCT
easat-3052	43	7	trade	trade	NOUN
easat-3052	43	8	-	-	PUNCT
easat-3052	43	9	off	off	ADP
easat-3052	43	10	theory	theory	NOUN
easat-3052	43	11	"	"	PUNCT
easat-3052	43	12	(	(	PUNCT
easat-3052	43	13	tot	tot	NOUN
easat-3052	43	14	)	)	PUNCT
easat-3052	43	15	,	,	PUNCT
easat-3052	43	16	where	where	SCONJ
easat-3052	43	17	the	the	DET
easat-3052	43	18	trade	trade	NOUN
easat-3052	43	19	-	-	PUNCT
easat-3052	43	20	off	off	NOUN
easat-3052	43	21	between	between	ADP
easat-3052	43	22	the	the	DET
easat-3052	43	23	benefits	benefit	NOUN
easat-3052	43	24	of	of	ADP
easat-3052	43	25	tax	tax	NOUN
easat-3052	43	26	shields	shield	NOUN
easat-3052	43	27	and	and	CCONJ
easat-3052	43	28	bankruptcy	bankruptcy	NOUN
easat-3052	43	29	costs	cost	NOUN
easat-3052	43	30	is	be	AUX
easat-3052	43	31	crucial	crucial	ADJ
easat-3052	43	32	.	.	PUNCT
easat-3052	44	1	"	"	PUNCT
easat-3052	44	2	pecking	pecking	NOUN
easat-3052	44	3	order	order	NOUN
easat-3052	44	4	theory	theory	NOUN
easat-3052	44	5	"	"	PUNCT
easat-3052	44	6	first	first	ADV
easat-3052	44	7	was	be	AUX
easat-3052	44	8	introduced	introduce	VERB
easat-3052	44	9	by	by	ADP
easat-3052	44	10	myers	myers	PROPN
easat-3052	44	11	in	in	ADP
easat-3052	44	12	1984	1984	NUM
easat-3052	44	13	.	.	PUNCT
easat-3052	45	1	it	it	PRON
easat-3052	45	2	proposes	propose	VERB
easat-3052	45	3	a	a	DET
easat-3052	45	4	scale	scale	NOUN
easat-3052	45	5	of	of	ADP
easat-3052	45	6	backing	back	VERB
easat-3052	45	7	preferences	preference	NOUN
easat-3052	45	8	,	,	PUNCT
easat-3052	45	9	with	with	ADP
easat-3052	45	10	retained	retain	VERB
easat-3052	45	11	earnings	earning	NOUN
easat-3052	45	12	at	at	ADP
easat-3052	45	13	first	first	ADV
easat-3052	45	14	,	,	PUNCT
easat-3052	45	15	followed	follow	VERB
easat-3052	45	16	by	by	ADP
easat-3052	45	17	debt	debt	NOUN
easat-3052	45	18	,	,	PUNCT
easat-3052	45	19	and	and	CCONJ
easat-3052	45	20	equity	equity	NOUN
easat-3052	45	21	at	at	ADP
easat-3052	45	22	the	the	DET
easat-3052	45	23	end	end	NOUN
easat-3052	45	24	.	.	PUNCT
easat-3052	46	1	recently	recently	ADV
easat-3052	46	2	,	,	PUNCT
easat-3052	46	3	the	the	DET
easat-3052	46	4	idea	idea	NOUN
easat-3052	46	5	that	that	SCONJ
easat-3052	46	6	firms	firm	NOUN
easat-3052	46	7	engage	engage	VERB
easat-3052	46	8	in	in	ADP
easat-3052	46	9	"	"	PUNCT
easat-3052	46	10	market	market	NOUN
easat-3052	46	11	timing	timing	NOUN
easat-3052	46	12	"	"	PUNCT
easat-3052	46	13	has	have	AUX
easat-3052	46	14	become	become	VERB
easat-3052	46	15	quite	quite	ADV
easat-3052	46	16	popular	popular	ADJ
easat-3052	46	17	,	,	PUNCT
easat-3052	46	18	despite	despite	SCONJ
easat-3052	46	19	its	its	PRON
easat-3052	46	20	weak	weak	ADJ
easat-3052	46	21	empirical	empirical	ADJ
easat-3052	46	22	support	support	NOUN
easat-3052	46	23	for	for	ADP
easat-3052	46	24	explaining	explain	VERB
easat-3052	46	25	the	the	DET
easat-3052	46	26	fundamental	fundamental	ADJ
easat-3052	46	27	factors	factor	NOUN
easat-3052	46	28	influencing	influence	VERB
easat-3052	46	29	capital	capital	NOUN
easat-3052	46	30	structure	structure	NOUN
easat-3052	46	31	.	.	PUNCT
easat-3052	47	1	various	various	ADJ
easat-3052	47	2	researchers	researcher	NOUN
easat-3052	47	3	often	often	ADV
easat-3052	47	4	reference	reference	VERB
easat-3052	47	5	the	the	DET
easat-3052	47	6	survey	survey	NOUN
easat-3052	47	7	conducted	conduct	VERB
easat-3052	47	8	by	by	ADP
easat-3052	47	9	harris	harris	PROPN
easat-3052	47	10	and	and	CCONJ
easat-3052	47	11	raviv	raviv	PROPN
easat-3052	47	12	(	(	PUNCT
easat-3052	47	13	1991	1991	NUM
easat-3052	47	14	)	)	PUNCT
easat-3052	47	15	or	or	CCONJ
easat-3052	47	16	the	the	DET
easat-3052	47	17	empirical	empirical	ADJ
easat-3052	47	18	studies	study	NOUN
easat-3052	47	19	by	by	ADP
easat-3052	47	20	titman	titman	NOUN
easat-3052	47	21	and	and	CCONJ
easat-3052	47	22	wessels	wessels	PROPN
easat-3052	47	23	(	(	PUNCT
easat-3052	47	24	1988	1988	NUM
easat-3052	47	25	)	)	PUNCT
easat-3052	47	26	,	,	PUNCT
easat-3052	47	27	rajan	rajan	PROPN
easat-3052	47	28	and	and	CCONJ
easat-3052	47	29	zingales	zingales	PROPN
easat-3052	47	30	(	(	PUNCT
easat-3052	47	31	1995	1995	NUM
easat-3052	47	32	)	)	PUNCT
easat-3052	47	33	,	,	PUNCT
easat-3052	47	34	frank	frank	PROPN
easat-3052	47	35	and	and	CCONJ
easat-3052	47	36	goyal	goyal	PROPN
easat-3052	47	37	(	(	PUNCT
easat-3052	47	38	2003	2003	NUM
easat-3052	47	39	and	and	CCONJ
easat-3052	47	40	2009	2009	NUM
easat-3052	47	41	)	)	PUNCT
easat-3052	48	1	[	[	X
easat-3052	48	2	39	39	NUM
easat-3052	48	3	-	-	SYM
easat-3052	48	4	44	44	NUM
easat-3052	48	5	]	]	PUNCT
easat-3052	48	6	.	.	PUNCT
easat-3052	49	1	according	accord	VERB
easat-3052	49	2	to	to	ADP
easat-3052	49	3	harris	harris	PROPN
easat-3052	49	4	and	and	CCONJ
easat-3052	49	5	raviv	raviv	PROPN
easat-3052	49	6	(	(	PUNCT
easat-3052	49	7	1991	1991	NUM
easat-3052	49	8	,	,	PUNCT
easat-3052	49	9	p.	p.	NOUN
easat-3052	49	10	334	334	NUM
easat-3052	49	11	)	)	PUNCT
easat-3052	49	12	,	,	PUNCT
easat-3052	49	13	available	available	ADJ
easat-3052	49	14	studies	study	NOUN
easat-3052	49	15	"	"	PUNCT
easat-3052	49	16	generally	generally	ADV
easat-3052	49	17	agree	agree	VERB
easat-3052	49	18	that	that	SCONJ
easat-3052	49	19	leverage	leverage	NOUN
easat-3052	49	20	increases	increase	VERB
easat-3052	49	21	with	with	ADP
easat-3052	49	22	fixed	fix	VERB
easat-3052	49	23	assets	asset	NOUN
easat-3052	49	24	,	,	PUNCT
easat-3052	49	25	benefits	benefit	NOUN
easat-3052	49	26	from	from	ADP
easat-3052	49	27	tax	tax	NOUN
easat-3052	49	28	shields	shield	NOUN
easat-3052	49	29	on	on	ADP
easat-3052	49	30	non	non	ADJ
easat-3052	49	31	-	-	ADJ
easat-3052	49	32	debt	debt	ADJ
easat-3052	49	33	items	item	NOUN
easat-3052	49	34	(	(	PUNCT
easat-3052	49	35	e.g.	e.g.	ADV
easat-3052	49	36	,	,	PUNCT
easat-3052	49	37	depreciation	depreciation	NOUN
easat-3052	49	38	and	and	CCONJ
easat-3052	49	39	amortization	amortization	NOUN
easat-3052	49	40	)	)	PUNCT
easat-3052	49	41	,	,	PUNCT
easat-3052	49	42	growth	growth	NOUN
easat-3052	49	43	opportunities	opportunity	NOUN
easat-3052	49	44	,	,	PUNCT
easat-3052	49	45	and	and	CCONJ
easat-3052	49	46	firm	firm	ADJ
easat-3052	49	47	size	size	NOUN
easat-3052	49	48	,	,	PUNCT
easat-3052	49	49	while	while	SCONJ
easat-3052	49	50	it	it	PRON
easat-3052	49	51	decreases	decrease	VERB
easat-3052	49	52	with	with	ADP
easat-3052	49	53	volatility	volatility	NOUN
easat-3052	49	54	,	,	PUNCT
easat-3052	49	55	advertising	advertising	NOUN
easat-3052	49	56	expenses	expense	NOUN
easat-3052	49	57	,	,	PUNCT
easat-3052	49	58	research	research	NOUN
easat-3052	49	59	and	and	CCONJ
easat-3052	49	60	development	development	NOUN
easat-3052	49	61	costs	cost	NOUN
easat-3052	49	62	,	,	PUNCT
easat-3052	49	63	bankruptcy	bankruptcy	NOUN
easat-3052	49	64	probability	probability	NOUN
easat-3052	49	65	,	,	PUNCT
easat-3052	49	66	profitability	profitability	NOUN
easat-3052	49	67	,	,	PUNCT
easat-3052	49	68	and	and	CCONJ
easat-3052	49	69	product	product	NOUN
easat-3052	49	70	uniqueness	uniqueness	NOUN
easat-3052	49	71	.	.	PUNCT
easat-3052	49	72	"	"	PUNCT
easat-3052	50	1	however	however	ADV
easat-3052	50	2	,	,	PUNCT
easat-3052	50	3	titman	titman	NOUN
easat-3052	50	4	and	and	CCONJ
easat-3052	50	5	wessels	wessels	PROPN
easat-3052	50	6	(	(	PUNCT
easat-3052	50	7	1988	1988	NUM
easat-3052	50	8	,	,	PUNCT
easat-3052	50	9	p.	p.	NOUN
easat-3052	50	10	17	17	NUM
easat-3052	50	11	)	)	PUNCT
easat-3052	50	12	indicate	indicate	VERB
easat-3052	50	13	that	that	SCONJ
easat-3052	50	14	"	"	PUNCT
easat-3052	50	15	their	their	PRON
easat-3052	50	16	results	result	NOUN
easat-3052	50	17	do	do	AUX
easat-3052	50	18	not	not	PART
easat-3052	50	19	support	support	VERB
easat-3052	50	20	an	an	DET
easat-3052	50	21	effect	effect	NOUN
easat-3052	50	22	on	on	ADP
easat-3052	50	23	debt	debt	NOUN
easat-3052	50	24	ratios	ratio	NOUN
easat-3052	50	25	resulting	result	VERB
easat-3052	50	26	from	from	ADP
easat-3052	50	27	non	non	ADJ
easat-3052	50	28	-	-	ADJ
easat-3052	50	29	debt	debt	ADJ
easat-3052	50	30	tax	tax	NOUN
easat-3052	50	31	benefits	benefit	NOUN
easat-3052	50	32	,	,	PUNCT
easat-3052	50	33	volatility	volatility	NOUN
easat-3052	50	34	,	,	PUNCT
easat-3052	50	35	collateral	collateral	ADJ
easat-3052	50	36	value	value	NOUN
easat-3052	50	37	,	,	PUNCT
easat-3052	50	38	or	or	CCONJ
easat-3052	50	39	future	future	ADJ
easat-3052	50	40	growth	growth	NOUN
easat-3052	50	41	.	.	PUNCT
easat-3052	50	42	"	"	PUNCT
easat-3052	51	1	these	these	DET
easat-3052	51	2	studies	study	NOUN
easat-3052	51	3	contribute	contribute	VERB
easat-3052	51	4	to	to	ADP
easat-3052	51	5	our	our	PRON
easat-3052	51	6	understanding	understanding	NOUN
easat-3052	51	7	of	of	ADP
easat-3052	51	8	capital	capital	NOUN
easat-3052	51	9	structure	structure	NOUN
easat-3052	51	10	in	in	ADP
easat-3052	51	11	several	several	ADJ
easat-3052	51	12	ways	way	NOUN
easat-3052	51	13	.	.	PUNCT
easat-3052	52	1	first	first	ADV
easat-3052	52	2	,	,	PUNCT
easat-3052	52	3	starting	start	VERB
easat-3052	52	4	with	with	ADP
easat-3052	52	5	a	a	DET
easat-3052	52	6	long	long	ADJ
easat-3052	52	7	list	list	NOUN
easat-3052	52	8	of	of	ADP
easat-3052	52	9	factors	factor	NOUN
easat-3052	52	10	(	(	PUNCT
easat-3052	52	11	39	39	NUM
easat-3052	52	12	factors	factor	NOUN
easat-3052	52	13	)	)	PUNCT
easat-3052	52	14	from	from	ADP
easat-3052	52	15	previous	previous	ADJ
easat-3052	52	16	literature	literature	NOUN
easat-3052	52	17	,	,	PUNCT
easat-3052	52	18	we	we	PRON
easat-3052	52	19	can	can	AUX
easat-3052	52	20	examine	examine	VERB
easat-3052	52	21	which	which	DET
easat-3052	52	22	factors	factor	NOUN
easat-3052	52	23	are	be	AUX
easat-3052	52	24	reliably	reliably	ADJ
easat-3052	52	25	and	and	CCONJ
easat-3052	52	26	significantly	significantly	ADV
easat-3052	52	27	correlated	correlate	VERB
easat-3052	52	28	with	with	ADP
easat-3052	52	29	leverage	leverage	NOUN
easat-3052	52	30	(	(	PUNCT
easat-3052	52	31	frank	frank	ADJ
easat-3052	52	32	and	and	CCONJ
easat-3052	52	33	goyal	goyal	PROPN
easat-3052	52	34	,	,	PUNCT
easat-3052	52	35	2003	2003	NUM
easat-3052	52	36	and	and	CCONJ
easat-3052	52	37	2009	2009	NUM
easat-3052	52	38	)	)	PUNCT
easat-3052	52	39	.	.	PUNCT
easat-3052	53	1	second	second	ADJ
easat-3052	53	2	,	,	PUNCT
easat-3052	53	3	it	it	PRON
easat-3052	53	4	is	be	AUX
easat-3052	53	5	likely	likely	ADJ
easat-3052	53	6	that	that	SCONJ
easat-3052	53	7	corporate	corporate	ADJ
easat-3052	53	8	financing	financing	NOUN
easat-3052	53	9	decision	decision	NOUN
easat-3052	53	10	models	model	NOUN
easat-3052	53	11	have	have	AUX
easat-3052	53	12	evolved	evolve	VERB
easat-3052	53	13	over	over	ADP
easat-3052	53	14	decades	decade	NOUN
easat-3052	53	15	.	.	PUNCT
easat-3052	54	1	therefore	therefore	ADV
easat-3052	54	2	,	,	PUNCT
easat-3052	54	3	it	it	PRON
easat-3052	54	4	is	be	AUX
easat-3052	54	5	essential	essential	ADJ
easat-3052	54	6	to	to	PART
easat-3052	54	7	examine	examine	VERB
easat-3052	54	8	changes	change	NOUN
easat-3052	54	9	over	over	ADP
easat-3052	54	10	time	time	NOUN
easat-3052	54	11	.	.	PUNCT
easat-3052	55	1	finally	finally	ADV
easat-3052	55	2	,	,	PUNCT
easat-3052	55	3	it	it	PRON
easat-3052	55	4	is	be	AUX
easat-3052	55	5	argued	argue	VERB
easat-3052	55	6	that	that	SCONJ
easat-3052	55	7	different	different	ADJ
easat-3052	55	8	theories	theory	NOUN
easat-3052	55	9	apply	apply	VERB
easat-3052	55	10	to	to	ADP
easat-3052	55	11	firms	firm	NOUN
easat-3052	55	12	under	under	ADP
easat-3052	55	13	various	various	ADJ
easat-3052	55	14	circumstances	circumstance	NOUN
easat-3052	55	15	and	and	CCONJ
easat-3052	55	16	contexts	context	NOUN
easat-3052	55	17	.	.	PUNCT
easat-3052	56	1	to	to	PART
easat-3052	56	2	address	address	VERB
easat-3052	56	3	this	this	DET
easat-3052	56	4	serious	serious	ADJ
easat-3052	56	5	concern	concern	NOUN
easat-3052	56	6	,	,	PUNCT
easat-3052	56	7	the	the	DET
easat-3052	56	8	effect	effect	NOUN
easat-3052	56	9	of	of	ADP
easat-3052	56	10	conditioning	conditioning	NOUN
easat-3052	56	11	in	in	ADP
easat-3052	56	12	strong	strong	ADJ
easat-3052	56	13	circumstances	circumstance	NOUN
easat-3052	56	14	has	have	AUX
easat-3052	56	15	also	also	ADV
easat-3052	56	16	been	be	AUX
easat-3052	56	17	observed	observe	VERB
easat-3052	56	18	.	.	PUNCT
easat-3052	57	1	in	in	ADP
easat-3052	57	2	testing	testing	NOUN
easat-3052	57	3	which	which	DET
easat-3052	57	4	factors	factor	NOUN
easat-3052	57	5	are	be	AUX
easat-3052	57	6	correlated	correlate	VERB
easat-3052	57	7	with	with	ADP
easat-3052	57	8	leverage	leverage	NOUN
easat-3052	57	9	,	,	PUNCT
easat-3052	57	10	it	it	PRON
easat-3052	57	11	is	be	AUX
easat-3052	57	12	necessary	necessary	ADJ
easat-3052	57	13	to	to	PART
easat-3052	57	14	first	first	ADV
easat-3052	57	15	define	define	VERB
easat-3052	57	16	the	the	DET
easat-3052	57	17	concept	concept	NOUN
easat-3052	57	18	of	of	ADP
easat-3052	57	19	4886	4886	NUM
easat-3052	57	20	edelweiss	edelweiss	PROPN
easat-3052	57	21	applied	apply	VERB
easat-3052	57	22	science	science	NOUN
easat-3052	57	23	and	and	CCONJ
easat-3052	57	24	technology	technology	NOUN
easat-3052	57	25	issn	issn	PROPN
easat-3052	57	26	:	:	PUNCT
easat-3052	57	27	2576	2576	NUM
easat-3052	57	28	-	-	SYM
easat-3052	57	29	8484	8484	NUM
easat-3052	57	30	vol	vol	NOUN
easat-3052	57	31	.	.	PROPN
easat-3052	57	32	8	8	NUM
easat-3052	57	33	,	,	PUNCT
easat-3052	57	34	no	no	INTJ
easat-3052	57	35	.	.	NOUN
easat-3052	58	1	6	6	NUM
easat-3052	58	2	:	:	SYM
easat-3052	58	3	4884	4884	NUM
easat-3052	58	4	-	-	SYM
easat-3052	58	5	4902	4902	NUM
easat-3052	58	6	,	,	PUNCT
easat-3052	58	7	2024	2024	NUM
easat-3052	58	8	doi	doi	NOUN
easat-3052	58	9	:	:	PUNCT
easat-3052	58	10	10.55214/25768484.v8i6.3052	10.55214/25768484.v8i6.3052	NUM
easat-3052	58	11	©	©	ADP
easat-3052	58	12	2024	2024	NUM
easat-3052	58	13	by	by	ADP
easat-3052	58	14	the	the	DET
easat-3052	58	15	author	author	NOUN
easat-3052	58	16	;	;	PUNCT
easat-3052	58	17	licensee	licensee	PROPN
easat-3052	58	18	learning	learn	VERB
easat-3052	58	19	gate	gate	NOUN
easat-3052	58	20	leverage	leverage	NOUN
easat-3052	58	21	.	.	PUNCT
easat-3052	59	1	many	many	ADJ
easat-3052	59	2	different	different	ADJ
easat-3052	59	3	empirical	empirical	ADJ
easat-3052	59	4	definitions	definition	NOUN
easat-3052	59	5	of	of	ADP
easat-3052	59	6	leverage	leverage	NOUN
easat-3052	59	7	have	have	AUX
easat-3052	59	8	been	be	AUX
easat-3052	59	9	used	use	VERB
easat-3052	59	10	.	.	PUNCT
easat-3052	60	1	some	some	DET
easat-3052	60	2	researchers	researcher	NOUN
easat-3052	60	3	advocate	advocate	VERB
easat-3052	60	4	for	for	ADP
easat-3052	60	5	the	the	DET
easat-3052	60	6	accounting	accounting	NOUN
easat-3052	60	7	leverage	leverage	NOUN
easat-3052	60	8	concept	concept	NOUN
easat-3052	60	9	,	,	PUNCT
easat-3052	60	10	while	while	SCONJ
easat-3052	60	11	others	other	NOUN
easat-3052	60	12	support	support	VERB
easat-3052	60	13	the	the	DET
easat-3052	60	14	market	market	NOUN
easat-3052	60	15	leverage	leverage	NOUN
easat-3052	60	16	concept	concept	NOUN
easat-3052	60	17	.	.	PUNCT
easat-3052	61	1	financial	financial	ADJ
easat-3052	61	2	managers	manager	NOUN
easat-3052	61	3	prioritize	prioritize	VERB
easat-3052	61	4	accounting	accounting	NOUN
easat-3052	61	5	leverage	leverage	NOUN
easat-3052	61	6	since	since	SCONJ
easat-3052	61	7	debt	debt	NOUN
easat-3052	61	8	is	be	AUX
easat-3052	61	9	better	well	ADV
easat-3052	61	10	supported	support	VERB
easat-3052	61	11	by	by	ADP
easat-3052	61	12	physical	physical	ADJ
easat-3052	61	13	assets	asset	NOUN
easat-3052	61	14	than	than	ADP
easat-3052	61	15	by	by	ADP
easat-3052	61	16	growth	growth	NOUN
easat-3052	61	17	potential	potential	NOUN
easat-3052	61	18	,	,	PUNCT
easat-3052	61	19	according	accord	VERB
easat-3052	61	20	to	to	ADP
easat-3052	61	21	myers	myers	PROPN
easat-3052	61	22	(	(	PUNCT
easat-3052	61	23	1977	1977	NUM
easat-3052	61	24	)	)	PUNCT
easat-3052	61	25	.	.	PUNCT
easat-3052	62	1	accounting	accounting	NOUN
easat-3052	62	2	leverage	leverage	NOUN
easat-3052	62	3	is	be	AUX
easat-3052	62	4	also	also	ADV
easat-3052	62	5	preferred	preferred	ADJ
easat-3052	62	6	because	because	SCONJ
easat-3052	62	7	financial	financial	ADJ
easat-3052	62	8	markets	market	NOUN
easat-3052	62	9	are	be	AUX
easat-3052	62	10	very	very	ADV
easat-3052	62	11	volatile	volatile	ADJ
easat-3052	62	12	,	,	PUNCT
easat-3052	62	13	and	and	CCONJ
easat-3052	62	14	managers	manager	NOUN
easat-3052	62	15	are	be	AUX
easat-3052	62	16	said	say	VERB
easat-3052	62	17	to	to	PART
easat-3052	62	18	believe	believe	VERB
easat-3052	62	19	that	that	SCONJ
easat-3052	62	20	market	market	NOUN
easat-3052	62	21	leverage	leverage	NOUN
easat-3052	62	22	numbers	number	NOUN
easat-3052	62	23	are	be	AUX
easat-3052	62	24	not	not	PART
easat-3052	62	25	reliable	reliable	ADJ
easat-3052	62	26	as	as	ADP
easat-3052	62	27	a	a	DET
easat-3052	62	28	guide	guide	NOUN
easat-3052	62	29	for	for	ADP
easat-3052	62	30	corporate	corporate	ADJ
easat-3052	62	31	financial	financial	ADJ
easat-3052	62	32	policy	policy	NOUN
easat-3052	62	33	.	.	PUNCT
easat-3052	63	1	consistent	consistent	ADJ
easat-3052	63	2	with	with	ADP
easat-3052	63	3	the	the	DET
easat-3052	63	4	academic	academic	ADJ
easat-3052	63	5	perception	perception	NOUN
easat-3052	63	6	of	of	ADP
easat-3052	63	7	managers	manager	NOUN
easat-3052	63	8	'	'	PART
easat-3052	63	9	views	view	NOUN
easat-3052	63	10	,	,	PUNCT
easat-3052	63	11	graham	graham	PROPN
easat-3052	63	12	and	and	CCONJ
easat-3052	63	13	harvey	harvey	PROPN
easat-3052	63	14	(	(	PUNCT
easat-3052	63	15	2001	2001	NUM
easat-3052	63	16	)	)	PUNCT
easat-3052	63	17	found	find	VERB
easat-3052	63	18	that	that	SCONJ
easat-3052	63	19	a	a	DET
easat-3052	63	20	significant	significant	ADJ
easat-3052	63	21	number	number	NOUN
easat-3052	63	22	of	of	ADP
easat-3052	63	23	managers	manager	NOUN
easat-3052	63	24	reported	report	VERB
easat-3052	63	25	they	they	PRON
easat-3052	63	26	do	do	AUX
easat-3052	63	27	not	not	PART
easat-3052	63	28	rebalance	rebalance	VERB
easat-3052	63	29	their	their	PRON
easat-3052	63	30	capital	capital	NOUN
easat-3052	63	31	structure	structure	NOUN
easat-3052	63	32	in	in	ADP
easat-3052	63	33	response	response	NOUN
easat-3052	63	34	to	to	ADP
easat-3052	63	35	movements	movement	NOUN
easat-3052	63	36	in	in	ADP
easat-3052	63	37	the	the	DET
easat-3052	63	38	capital	capital	NOUN
easat-3052	63	39	market	market	NOUN
easat-3052	63	40	.	.	PUNCT
easat-3052	64	1	adjustment	adjustment	NOUN
easat-3052	64	2	expenses	expense	NOUN
easat-3052	64	3	make	make	VERB
easat-3052	64	4	it	it	PRON
easat-3052	64	5	impossible	impossible	ADJ
easat-3052	64	6	for	for	SCONJ
easat-3052	64	7	businesses	business	NOUN
easat-3052	64	8	to	to	PART
easat-3052	64	9	continually	continually	ADV
easat-3052	64	10	rebalance	rebalance	VERB
easat-3052	64	11	.	.	PUNCT
easat-3052	65	1	however	however	ADV
easat-3052	65	2	,	,	PUNCT
easat-3052	65	3	proponents	proponent	NOUN
easat-3052	65	4	of	of	ADP
easat-3052	65	5	market	market	NOUN
easat-3052	65	6	leverage	leverage	NOUN
easat-3052	65	7	contend	contend	VERB
easat-3052	65	8	that	that	SCONJ
easat-3052	65	9	rather	rather	ADV
easat-3052	65	10	than	than	ADP
easat-3052	65	11	being	be	AUX
easat-3052	65	12	a	a	DET
easat-3052	65	13	significant	significant	ADJ
easat-3052	65	14	number	number	NOUN
easat-3052	65	15	in	in	ADP
easat-3052	65	16	management	management	NOUN
easat-3052	65	17	aspects	aspect	NOUN
easat-3052	65	18	,	,	PUNCT
easat-3052	65	19	the	the	DET
easat-3052	65	20	accounting	accounting	NOUN
easat-3052	65	21	value	value	NOUN
easat-3052	65	22	of	of	ADP
easat-3052	65	23	capital	capital	NOUN
easat-3052	65	24	is	be	AUX
easat-3052	65	25	just	just	ADV
easat-3052	65	26	a	a	DET
easat-3052	65	27	"	"	PUNCT
easat-3052	65	28	number	number	NOUN
easat-3052	65	29	"	"	PUNCT
easat-3052	65	30	used	use	VERB
easat-3052	65	31	to	to	PART
easat-3052	65	32	balance	balance	VERB
easat-3052	65	33	the	the	DET
easat-3052	65	34	left	left	ADJ
easat-3052	65	35	and	and	CCONJ
easat-3052	65	36	right	right	ADJ
easat-3052	65	37	sides	side	NOUN
easat-3052	65	38	of	of	ADP
easat-3052	65	39	the	the	DET
easat-3052	65	40	balance	balance	NOUN
easat-3052	65	41	sheet	sheet	NOUN
easat-3052	65	42	(	(	PUNCT
easat-3052	65	43	welch	welch	PROPN
easat-3052	65	44	,	,	PUNCT
easat-3052	65	45	2004	2004	NUM
easat-3052	65	46	)	)	PUNCT
easat-3052	65	47	.	.	PUNCT
easat-3052	66	1	the	the	DET
easat-3052	66	2	accounting	accounting	NOUN
easat-3052	66	3	value	value	NOUN
easat-3052	66	4	is	be	AUX
easat-3052	66	5	backward	backward	ADV
easat-3052	66	6	-	-	PUNCT
easat-3052	66	7	looking	look	VERB
easat-3052	66	8	,	,	PUNCT
easat-3052	66	9	reflecting	reflect	VERB
easat-3052	66	10	what	what	PRON
easat-3052	66	11	has	have	AUX
easat-3052	66	12	happened	happen	VERB
easat-3052	66	13	over	over	ADP
easat-3052	66	14	time	time	NOUN
easat-3052	66	15	,	,	PUNCT
easat-3052	66	16	while	while	SCONJ
easat-3052	66	17	the	the	DET
easat-3052	66	18	market	market	NOUN
easat-3052	66	19	value	value	NOUN
easat-3052	66	20	is	be	AUX
easat-3052	66	21	expected	expect	VERB
easat-3052	66	22	to	to	PART
easat-3052	66	23	be	be	AUX
easat-3052	66	24	forward	forward	ADV
easat-3052	66	25	-	-	PUNCT
easat-3052	66	26	looking	look	VERB
easat-3052	66	27	and	and	CCONJ
easat-3052	66	28	reflects	reflect	VERB
easat-3052	66	29	what	what	PRON
easat-3052	66	30	might	might	AUX
easat-3052	66	31	happen	happen	VERB
easat-3052	66	32	in	in	ADP
easat-3052	66	33	the	the	DET
easat-3052	66	34	future	future	NOUN
easat-3052	66	35	due	due	ADP
easat-3052	66	36	to	to	ADP
easat-3052	66	37	information	information	NOUN
easat-3052	66	38	deriving	derive	VERB
easat-3052	66	39	from	from	ADP
easat-3052	66	40	financial	financial	ADJ
easat-3052	66	41	markets	market	NOUN
easat-3052	66	42	.	.	PUNCT
easat-3052	67	1	most	most	ADV
easat-3052	67	2	theoretical	theoretical	ADJ
easat-3052	67	3	and	and	CCONJ
easat-3052	67	4	empirical	empirical	ADJ
easat-3052	67	5	studies	study	NOUN
easat-3052	67	6	on	on	ADP
easat-3052	67	7	capital	capital	NOUN
easat-3052	67	8	structure	structure	NOUN
easat-3052	67	9	,	,	PUNCT
easat-3052	67	10	both	both	PRON
easat-3052	67	11	in	in	ADP
easat-3052	67	12	developed	developed	ADJ
easat-3052	67	13	and	and	CCONJ
easat-3052	67	14	developing	develop	VERB
easat-3052	67	15	countries	country	NOUN
easat-3052	67	16	,	,	PUNCT
easat-3052	67	17	have	have	AUX
easat-3052	67	18	focused	focus	VERB
easat-3052	67	19	more	more	ADJ
easat-3052	67	20	on	on	ADP
easat-3052	67	21	large	large	ADJ
easat-3052	67	22	firms	firm	NOUN
easat-3052	67	23	,	,	PUNCT
easat-3052	67	24	including	include	VERB
easat-3052	67	25	the	the	DET
easat-3052	67	26	study	study	NOUN
easat-3052	67	27	by	by	ADP
easat-3052	67	28	corcoran	corcoran	NOUN
easat-3052	67	29	(	(	PUNCT
easat-3052	67	30	1977	1977	NUM
easat-3052	67	31	)	)	PUNCT
easat-3052	67	32	in	in	ADP
easat-3052	67	33	the	the	DET
easat-3052	67	34	usa	usa	PROPN
easat-3052	67	35	,	,	PUNCT
easat-3052	67	36	rajan	rajan	PROPN
easat-3052	67	37	and	and	CCONJ
easat-3052	67	38	zingales	zingales	PROPN
easat-3052	67	39	(	(	PUNCT
easat-3052	67	40	1995	1995	NUM
easat-3052	67	41	)	)	PUNCT
easat-3052	67	42	in	in	ADP
easat-3052	67	43	g-7	g-7	PROPN
easat-3052	67	44	countries	country	NOUN
easat-3052	67	45	,	,	PUNCT
easat-3052	67	46	mutenheri	mutenheri	NOUN
easat-3052	67	47	and	and	CCONJ
easat-3052	67	48	green	green	ADJ
easat-3052	67	49	(	(	PUNCT
easat-3052	67	50	2002	2002	NUM
easat-3052	67	51	)	)	PUNCT
easat-3052	67	52	in	in	ADP
easat-3052	67	53	zimbabwe	zimbabwe	PROPN
easat-3052	67	54	,	,	PUNCT
easat-3052	67	55	frank	frank	ADJ
easat-3052	67	56	and	and	CCONJ
easat-3052	67	57	goyal	goyal	PROPN
easat-3052	67	58	(	(	PUNCT
easat-3052	67	59	2003	2003	NUM
easat-3052	67	60	and	and	CCONJ
easat-3052	67	61	2009	2009	NUM
easat-3052	67	62	)	)	PUNCT
easat-3052	67	63	in	in	ADP
easat-3052	67	64	the	the	DET
easat-3052	67	65	usa	usa	PROPN
easat-3052	67	66	,	,	PUNCT
easat-3052	67	67	ghosh	ghosh	PROPN
easat-3052	67	68	(	(	PUNCT
easat-3052	67	69	2008	2008	NUM
easat-3052	67	70	)	)	PUNCT
easat-3052	67	71	in	in	ADP
easat-3052	67	72	the	the	DET
easat-3052	67	73	usa	usa	PROPN
easat-3052	67	74	,	,	PUNCT
easat-3052	67	75	brigham	brigham	PROPN
easat-3052	67	76	and	and	CCONJ
easat-3052	67	77	ehrhardt	ehrhardt	PROPN
easat-3052	67	78	(	(	PUNCT
easat-3052	67	79	2008	2008	NUM
easat-3052	67	80	)	)	PUNCT
easat-3052	67	81	in	in	ADP
easat-3052	67	82	the	the	DET
easat-3052	67	83	usa	usa	PROPN
easat-3052	67	84	,	,	PUNCT
easat-3052	67	85	gurcharan	gurcharan	NOUN
easat-3052	67	86	(	(	PUNCT
easat-3052	67	87	2010	2010	NUM
easat-3052	67	88	)	)	PUNCT
easat-3052	67	89	in	in	ADP
easat-3052	67	90	four	four	NUM
easat-3052	67	91	asean	asean	ADJ
easat-3052	67	92	countries	country	NOUN
easat-3052	67	93	,	,	PUNCT
easat-3052	67	94	abzari	abzari	PROPN
easat-3052	67	95	et	et	PROPN
easat-3052	67	96	al	al	PROPN
easat-3052	67	97	.	.	PROPN
easat-3052	68	1	(	(	PUNCT
easat-3052	68	2	2012	2012	NUM
easat-3052	68	3	)	)	PUNCT
easat-3052	68	4	on	on	ADP
easat-3052	68	5	public	public	ADJ
easat-3052	68	6	traded	trade	VERB
easat-3052	68	7	firms	firm	NOUN
easat-3052	68	8	in	in	ADP
easat-3052	68	9	tehran	tehran	PROPN
easat-3052	68	10	,	,	PUNCT
easat-3052	68	11	correa	correa	PROPN
easat-3052	68	12	et	et	PROPN
easat-3052	68	13	al	al	PROPN
easat-3052	68	14	.	.	PROPN
easat-3052	69	1	(	(	PUNCT
easat-3052	69	2	2007	2007	NUM
easat-3052	69	3	)	)	PUNCT
easat-3052	69	4	on	on	ADP
easat-3052	69	5	large	large	ADJ
easat-3052	69	6	firms	firm	NOUN
easat-3052	69	7	in	in	ADP
easat-3052	69	8	brazil	brazil	PROPN
easat-3052	69	9	,	,	PUNCT
easat-3052	69	10	luçi	luçi	ADJ
easat-3052	69	11	and	and	CCONJ
easat-3052	69	12	lleshaj	lleshaj	PROPN
easat-3052	69	13	(	(	PUNCT
easat-3052	69	14	2016	2016	NUM
easat-3052	69	15	)	)	PUNCT
easat-3052	69	16	,	,	PUNCT
easat-3052	69	17	shkreta	shkreta	NOUN
easat-3052	69	18	and	and	CCONJ
easat-3052	69	19	meka	meka	NOUN
easat-3052	69	20	(	(	PUNCT
easat-3052	69	21	2021	2021	NUM
easat-3052	69	22	)	)	PUNCT
easat-3052	69	23	on	on	ADP
easat-3052	69	24	large	large	ADJ
easat-3052	69	25	firms	firm	NOUN
easat-3052	69	26	in	in	ADP
easat-3052	69	27	albania	albania	PROPN
easat-3052	69	28	,	,	PUNCT
easat-3052	69	29	etc	etc	X
easat-3052	69	30	[	[	PUNCT
easat-3052	69	31	13	13	NUM
easat-3052	69	32	-	-	SYM
easat-3052	69	33	20	20	NUM
easat-3052	69	34	]	]	PUNCT
easat-3052	69	35	.	.	PUNCT
easat-3052	70	1	however	however	ADV
easat-3052	70	2	,	,	PUNCT
easat-3052	70	3	few	few	ADJ
easat-3052	70	4	studies	study	NOUN
easat-3052	70	5	have	have	AUX
easat-3052	70	6	been	be	AUX
easat-3052	70	7	conducted	conduct	VERB
easat-3052	70	8	on	on	ADP
easat-3052	70	9	small	small	ADJ
easat-3052	70	10	and	and	CCONJ
easat-3052	70	11	medium	medium	ADJ
easat-3052	70	12	enterprises	enterprise	NOUN
easat-3052	70	13	(	(	PUNCT
easat-3052	70	14	smes	sme	NOUN
easat-3052	70	15	)	)	PUNCT
easat-3052	70	16	,	,	PUNCT
easat-3052	70	17	such	such	ADJ
easat-3052	70	18	as	as	ADP
easat-3052	70	19	that	that	PRON
easat-3052	70	20	of	of	ADP
easat-3052	70	21	mateus	mateus	PROPN
easat-3052	70	22	(	(	PUNCT
easat-3052	70	23	2006	2006	NUM
easat-3052	70	24	)	)	PUNCT
easat-3052	70	25	,	,	PUNCT
easat-3052	70	26	which	which	PRON
easat-3052	70	27	was	be	AUX
easat-3052	70	28	carried	carry	VERB
easat-3052	70	29	out	out	ADP
easat-3052	70	30	on	on	ADP
easat-3052	70	31	smes	sme	NOUN
easat-3052	70	32	in	in	ADP
easat-3052	70	33	16	16	NUM
easat-3052	70	34	western	western	ADJ
easat-3052	70	35	european	european	ADJ
easat-3052	70	36	countries	country	NOUN
easat-3052	70	37	,	,	PUNCT
easat-3052	70	38	vasiliou	vasiliou	NOUN
easat-3052	70	39	and	and	CCONJ
easat-3052	70	40	daskalikis	daskalikis	PROPN
easat-3052	70	41	(	(	PUNCT
easat-3052	70	42	2009	2009	NUM
easat-3052	70	43	)	)	PUNCT
easat-3052	70	44	and	and	CCONJ
easat-3052	70	45	erioties	eriotie	NOUN
easat-3052	70	46	et	et	PROPN
easat-3052	70	47	al	al	PROPN
easat-3052	70	48	.	.	PUNCT
easat-3052	71	1	(	(	PUNCT
easat-3052	71	2	2007	2007	NUM
easat-3052	71	3	)	)	PUNCT
easat-3052	71	4	on	on	ADP
easat-3052	71	5	smes	smes	PROPN
easat-3052	71	6	in	in	ADP
easat-3052	71	7	greece	greece	PROPN
easat-3052	71	8	,	,	PUNCT
easat-3052	71	9	margaritis	margaritis	ADJ
easat-3052	71	10	and	and	CCONJ
easat-3052	71	11	psillaki	psillaki	PROPN
easat-3052	71	12	(	(	PUNCT
easat-3052	71	13	2010	2010	NUM
easat-3052	71	14	)	)	PUNCT
easat-3052	71	15	on	on	ADP
easat-3052	71	16	smes	smes	PROPN
easat-3052	71	17	in	in	ADP
easat-3052	71	18	france	france	PROPN
easat-3052	71	19	,	,	PUNCT
easat-3052	71	20	abdullah	abdullah	PROPN
easat-3052	71	21	et	et	PROPN
easat-3052	71	22	al	al	PROPN
easat-3052	71	23	.	.	PROPN
easat-3052	72	1	(	(	PUNCT
easat-3052	72	2	2019	2019	NUM
easat-3052	72	3	and	and	CCONJ
easat-3052	72	4	2021	2021	NUM
easat-3052	72	5	)	)	PUNCT
easat-3052	72	6	on	on	ADP
easat-3052	72	7	smes	smes	PROPN
easat-3052	72	8	in	in	ADP
easat-3052	72	9	germany	germany	PROPN
easat-3052	72	10	,	,	PUNCT
easat-3052	72	11	goddard	goddard	PROPN
easat-3052	72	12	et	et	PROPN
easat-3052	72	13	al	al	PROPN
easat-3052	72	14	.	.	PROPN
easat-3052	73	1	(	(	PUNCT
easat-3052	73	2	2005	2005	NUM
easat-3052	73	3	)	)	PUNCT
easat-3052	73	4	on	on	ADP
easat-3052	73	5	smes	smes	PROPN
easat-3052	73	6	in	in	ADP
easat-3052	73	7	belgium	belgium	PROPN
easat-3052	73	8	,	,	PUNCT
easat-3052	73	9	france	france	PROPN
easat-3052	73	10	,	,	PUNCT
easat-3052	73	11	italy	italy	PROPN
easat-3052	73	12	,	,	PUNCT
easat-3052	73	13	and	and	CCONJ
easat-3052	73	14	the	the	DET
easat-3052	73	15	uk	uk	PROPN
easat-3052	73	16	,	,	PUNCT
easat-3052	73	17	daskalakis	daskalaki	NOUN
easat-3052	73	18	and	and	CCONJ
easat-3052	73	19	psillaki	psillaki	PROPN
easat-3052	73	20	(	(	PUNCT
easat-3052	73	21	2008	2008	NUM
easat-3052	73	22	)	)	PUNCT
easat-3052	73	23	on	on	ADP
easat-3052	73	24	smes	sme	NOUN
easat-3052	73	25	in	in	ADP
easat-3052	73	26	greece	greece	PROPN
easat-3052	73	27	and	and	CCONJ
easat-3052	73	28	france	france	PROPN
easat-3052	73	29	,	,	PUNCT
easat-3052	73	30	domenichelli	domenichelli	PROPN
easat-3052	73	31	(	(	PUNCT
easat-3052	73	32	2012	2012	NUM
easat-3052	73	33	)	)	PUNCT
easat-3052	73	34	and	and	CCONJ
easat-3052	73	35	d’amato	d’amato	PROPN
easat-3052	73	36	(	(	PUNCT
easat-3052	73	37	2019	2019	NUM
easat-3052	73	38	)	)	PUNCT
easat-3052	73	39	on	on	ADP
easat-3052	73	40	smes	smes	PROPN
easat-3052	73	41	in	in	ADP
easat-3052	73	42	italy	italy	PROPN
easat-3052	73	43	,	,	PUNCT
easat-3052	73	44	zeitun	zeitun	PROPN
easat-3052	73	45	and	and	CCONJ
easat-3052	73	46	tian	tian	ADJ
easat-3052	73	47	(	(	PUNCT
easat-3052	73	48	2007	2007	NUM
easat-3052	73	49	)	)	PUNCT
easat-3052	73	50	on	on	ADP
easat-3052	73	51	smes	smes	PROPN
easat-3052	73	52	in	in	ADP
easat-3052	73	53	jordan	jordan	PROPN
easat-3052	73	54	,	,	PUNCT
easat-3052	73	55	hall	hall	PROPN
easat-3052	73	56	et	et	PROPN
easat-3052	73	57	al	al	PROPN
easat-3052	73	58	.	.	PROPN
easat-3052	74	1	(	(	PUNCT
easat-3052	74	2	2004	2004	NUM
easat-3052	74	3	)	)	PUNCT
easat-3052	74	4	on	on	ADP
easat-3052	74	5	smes	sme	NOUN
easat-3052	74	6	in	in	ADP
easat-3052	74	7	g-8	g-8	PROPN
easat-3052	74	8	eu	eu	PROPN
easat-3052	74	9	countries	countries	PROPN
easat-3052	74	10	,	,	PUNCT
easat-3052	74	11	degryese	degryese	NOUN
easat-3052	74	12	(	(	PUNCT
easat-3052	74	13	2010	2010	NUM
easat-3052	74	14	)	)	PUNCT
easat-3052	74	15	on	on	ADP
easat-3052	74	16	smes	sme	NOUN
easat-3052	74	17	in	in	ADP
easat-3052	74	18	the	the	DET
easat-3052	74	19	netherlands	netherlands	PROPN
easat-3052	74	20	,	,	PUNCT
easat-3052	74	21	sogorb	sogorb	VERB
easat-3052	74	22	mira	mira	X
easat-3052	74	23	(	(	PUNCT
easat-3052	74	24	2005	2005	NUM
easat-3052	74	25	)	)	PUNCT
easat-3052	74	26	,	,	PUNCT
easat-3052	74	27	palancin	palancin	VERB
easat-3052	74	28	sanches	sanche	NOUN
easat-3052	74	29	et	et	PROPN
easat-3052	74	30	al	al	PROPN
easat-3052	74	31	.	.	PROPN
easat-3052	75	1	(	(	PUNCT
easat-3052	75	2	2012	2012	NUM
easat-3052	75	3	)	)	PUNCT
easat-3052	75	4	,	,	PUNCT
easat-3052	75	5	lopez	lopez	NOUN
easat-3052	75	6	gracia	gracia	PROPN
easat-3052	75	7	and	and	CCONJ
easat-3052	75	8	sogorb	sogorb	VERB
easat-3052	75	9	mira	mira	PROPN
easat-3052	75	10	(	(	PUNCT
easat-3052	75	11	2008	2008	NUM
easat-3052	75	12	)	)	PUNCT
easat-3052	75	13	on	on	ADP
easat-3052	75	14	smes	smes	PROPN
easat-3052	75	15	in	in	ADP
easat-3052	75	16	spain	spain	PROPN
easat-3052	75	17	,	,	PUNCT
easat-3052	75	18	mcnamara	mcnamara	PROPN
easat-3052	75	19	et	et	PROPN
easat-3052	75	20	al	al	PROPN
easat-3052	75	21	.	.	PROPN
easat-3052	76	1	(	(	PUNCT
easat-3052	76	2	2017	2017	NUM
easat-3052	76	3	)	)	PUNCT
easat-3052	76	4	on	on	ADP
easat-3052	76	5	smes	sme	NOUN
easat-3052	76	6	in	in	ADP
easat-3052	76	7	g-9	g-9	PROPN
easat-3052	76	8	eu	eu	PROPN
easat-3052	76	9	countries	country	NOUN
easat-3052	76	10	,	,	PUNCT
easat-3052	76	11	and	and	CCONJ
easat-3052	76	12	michaelas	michaelas	ADP
easat-3052	76	13	et	et	PROPN
easat-3052	76	14	al	al	PROPN
easat-3052	76	15	.	.	PROPN
easat-3052	76	16	(	(	PUNCT
easat-3052	76	17	1999	1999	NUM
easat-3052	76	18	)	)	PUNCT
easat-3052	76	19	on	on	ADP
easat-3052	76	20	smes	sme	NOUN
easat-3052	76	21	in	in	ADP
easat-3052	76	22	the	the	DET
easat-3052	76	23	uk	uk	PROPN
easat-3052	76	24	.	.	PUNCT
easat-3052	77	1	however	however	ADV
easat-3052	77	2	,	,	PUNCT
easat-3052	77	3	as	as	SCONJ
easat-3052	77	4	we	we	PRON
easat-3052	77	5	know	know	VERB
easat-3052	77	6	,	,	PUNCT
easat-3052	77	7	large	large	ADJ
easat-3052	77	8	listed	list	VERB
easat-3052	77	9	firms	firm	NOUN
easat-3052	77	10	may	may	AUX
easat-3052	77	11	have	have	VERB
easat-3052	77	12	easier	easy	ADJ
easat-3052	77	13	access	access	NOUN
easat-3052	77	14	to	to	ADP
easat-3052	77	15	national	national	ADJ
easat-3052	77	16	and	and	CCONJ
easat-3052	77	17	international	international	ADJ
easat-3052	77	18	financial	financial	ADJ
easat-3052	77	19	markets	market	NOUN
easat-3052	77	20	.	.	PUNCT
easat-3052	78	1	therefore	therefore	ADV
easat-3052	78	2	,	,	PUNCT
easat-3052	78	3	the	the	DET
easat-3052	78	4	findings	finding	NOUN
easat-3052	78	5	from	from	ADP
easat-3052	78	6	these	these	DET
easat-3052	78	7	studies	study	NOUN
easat-3052	78	8	can	can	AUX
easat-3052	78	9	not	not	PART
easat-3052	78	10	generalize	generalize	VERB
easat-3052	78	11	the	the	DET
easat-3052	78	12	financial	financial	ADJ
easat-3052	78	13	behavior	behavior	NOUN
easat-3052	78	14	of	of	ADP
easat-3052	78	15	all	all	DET
easat-3052	78	16	firms	firm	NOUN
easat-3052	78	17	,	,	PUNCT
easat-3052	78	18	especially	especially	ADV
easat-3052	78	19	unlisted	unlisted	ADJ
easat-3052	78	20	albanian	albanian	ADJ
easat-3052	78	21	firms	firm	NOUN
easat-3052	78	22	that	that	PRON
easat-3052	78	23	do	do	AUX
easat-3052	78	24	not	not	PART
easat-3052	78	25	have	have	VERB
easat-3052	78	26	the	the	DET
easat-3052	78	27	same	same	ADJ
easat-3052	78	28	access	access	NOUN
easat-3052	78	29	to	to	ADP
easat-3052	78	30	financial	financial	ADJ
easat-3052	78	31	markets	market	NOUN
easat-3052	78	32	and	and	CCONJ
easat-3052	78	33	operate	operate	VERB
easat-3052	78	34	in	in	ADP
easat-3052	78	35	an	an	DET
easat-3052	78	36	emerging	emerge	VERB
easat-3052	78	37	economy	economy	NOUN
easat-3052	78	38	.	.	PUNCT
easat-3052	79	1	thus	thus	ADV
easat-3052	79	2	,	,	PUNCT
easat-3052	79	3	a	a	DET
easat-3052	79	4	perspective	perspective	NOUN
easat-3052	79	5	considering	consider	VERB
easat-3052	79	6	the	the	DET
easat-3052	79	7	context	context	NOUN
easat-3052	79	8	of	of	ADP
easat-3052	79	9	the	the	DET
easat-3052	79	10	country	country	NOUN
easat-3052	79	11	to	to	PART
easat-3052	79	12	which	which	PRON
easat-3052	79	13	the	the	DET
easat-3052	79	14	study	study	NOUN
easat-3052	79	15	refers	refer	VERB
easat-3052	79	16	is	be	AUX
easat-3052	79	17	necessary	necessary	ADJ
easat-3052	79	18	,	,	PUNCT
easat-3052	79	19	taking	take	VERB
easat-3052	79	20	into	into	ADP
easat-3052	79	21	account	account	NOUN
easat-3052	79	22	its	its	PRON
easat-3052	79	23	economic	economic	ADJ
easat-3052	79	24	-	-	PUNCT
easat-3052	79	25	financial	financial	ADJ
easat-3052	79	26	development	development	NOUN
easat-3052	79	27	characteristics	characteristic	NOUN
easat-3052	79	28	.	.	PUNCT
easat-3052	80	1	2	2	X
easat-3052	80	2	.	.	X
easat-3052	80	3	literature	literature	NOUN
easat-3052	80	4	review	review	VERB
easat-3052	80	5	the	the	DET
easat-3052	80	6	term	term	NOUN
easat-3052	80	7	capital	capital	NOUN
easat-3052	80	8	structure	structure	NOUN
easat-3052	80	9	is	be	AUX
easat-3052	80	10	often	often	ADV
easat-3052	80	11	used	use	VERB
easat-3052	80	12	in	in	ADP
easat-3052	80	13	relation	relation	NOUN
easat-3052	80	14	to	to	ADP
easat-3052	80	15	the	the	DET
easat-3052	80	16	relationship	relationship	NOUN
easat-3052	80	17	between	between	ADP
easat-3052	80	18	a	a	DET
easat-3052	80	19	firm	firm	NOUN
easat-3052	80	20	's	's	PART
easat-3052	80	21	equity	equity	NOUN
easat-3052	80	22	and	and	CCONJ
easat-3052	80	23	debt	debt	NOUN
easat-3052	80	24	.	.	PUNCT
easat-3052	81	1	however	however	ADV
easat-3052	81	2	,	,	PUNCT
easat-3052	81	3	there	there	PRON
easat-3052	81	4	are	be	VERB
easat-3052	81	5	numerous	numerous	ADJ
easat-3052	81	6	definitions	definition	NOUN
easat-3052	81	7	of	of	ADP
easat-3052	81	8	capital	capital	NOUN
easat-3052	81	9	structure	structure	NOUN
easat-3052	81	10	in	in	ADP
easat-3052	81	11	the	the	DET
easat-3052	81	12	literature	literature	NOUN
easat-3052	81	13	.	.	PUNCT
easat-3052	82	1	berk	berk	PROPN
easat-3052	82	2	and	and	CCONJ
easat-3052	82	3	demarzo	demarzo	NOUN
easat-3052	82	4	(	(	PUNCT
easat-3052	82	5	2019	2019	NUM
easat-3052	82	6	,	,	PUNCT
easat-3052	82	7	p.	p.	NOUN
easat-3052	82	8	525	525	NUM
easat-3052	82	9	)	)	PUNCT
easat-3052	82	10	define	define	VERB
easat-3052	82	11	it	it	PRON
easat-3052	82	12	as	as	ADP
easat-3052	82	13	"	"	PUNCT
easat-3052	82	14	the	the	DET
easat-3052	82	15	relative	relative	ADJ
easat-3052	82	16	proportion	proportion	NOUN
easat-3052	82	17	of	of	ADP
easat-3052	82	18	debt	debt	NOUN
easat-3052	82	19	,	,	PUNCT
easat-3052	82	20	equity	equity	NOUN
easat-3052	82	21	,	,	PUNCT
easat-3052	82	22	and	and	CCONJ
easat-3052	82	23	other	other	ADJ
easat-3052	82	24	securities	security	NOUN
easat-3052	82	25	that	that	PRON
easat-3052	82	26	a	a	DET
easat-3052	82	27	firm	firm	NOUN
easat-3052	82	28	has	have	AUX
easat-3052	82	29	outstanding	outstanding	ADJ
easat-3052	82	30	[	[	X
easat-3052	82	31	...	...	X
easat-3052	82	32	]	]	X
easat-3052	82	33	,	,	PUNCT
easat-3052	82	34	"	"	PUNCT
easat-3052	82	35	while	while	SCONJ
easat-3052	82	36	van	van	PROPN
easat-3052	82	37	horne	horne	PROPN
easat-3052	82	38	(	(	PUNCT
easat-3052	82	39	2001	2001	NUM
easat-3052	82	40	)	)	PUNCT
easat-3052	82	41	describes	describe	VERB
easat-3052	82	42	it	it	PRON
easat-3052	82	43	as	as	ADP
easat-3052	82	44	the	the	DET
easat-3052	82	45	ratio	ratio	NOUN
easat-3052	82	46	of	of	ADP
easat-3052	82	47	debt	debt	NOUN
easat-3052	82	48	to	to	ADP
easat-3052	82	49	the	the	DET
easat-3052	82	50	total	total	ADJ
easat-3052	82	51	equity	equity	NOUN
easat-3052	82	52	of	of	ADP
easat-3052	82	53	the	the	DET
easat-3052	82	54	firm	firm	NOUN
easat-3052	82	55	.	.	PUNCT
easat-3052	83	1	there	there	PRON
easat-3052	83	2	are	be	VERB
easat-3052	83	3	also	also	ADV
easat-3052	83	4	more	more	ADV
easat-3052	83	5	complex	complex	ADJ
easat-3052	83	6	definitions	definition	NOUN
easat-3052	83	7	,	,	PUNCT
easat-3052	83	8	such	such	ADJ
easat-3052	83	9	as	as	ADP
easat-3052	83	10	that	that	PRON
easat-3052	83	11	of	of	ADP
easat-3052	83	12	brealey	brealey	PROPN
easat-3052	83	13	et	et	PROPN
easat-3052	83	14	al	al	PROPN
easat-3052	83	15	.	.	PROPN
easat-3052	84	1	(	(	PUNCT
easat-3052	84	2	2010	2010	NUM
easat-3052	84	3	)	)	PUNCT
easat-3052	84	4	,	,	PUNCT
easat-3052	84	5	stating	state	VERB
easat-3052	84	6	that	that	SCONJ
easat-3052	84	7	it	it	PRON
easat-3052	84	8	"	"	PUNCT
easat-3052	84	9	exclusively	exclusively	ADV
easat-3052	84	10	refers	refer	VERB
easat-3052	84	11	to	to	ADP
easat-3052	84	12	the	the	DET
easat-3052	84	13	long	long	ADJ
easat-3052	84	14	-	-	PUNCT
easat-3052	84	15	term	term	NOUN
easat-3052	84	16	funding	funding	NOUN
easat-3052	84	17	sources	source	NOUN
easat-3052	84	18	of	of	ADP
easat-3052	84	19	the	the	DET
easat-3052	84	20	firm	firm	NOUN
easat-3052	84	21	"	"	PUNCT
easat-3052	84	22	(	(	PUNCT
easat-3052	84	23	p.	p.	NOUN
easat-3052	84	24	4	4	NUM
easat-3052	84	25	)	)	PUNCT
easat-3052	84	26	,	,	PUNCT
easat-3052	84	27	and	and	CCONJ
easat-3052	84	28	later	later	ADV
easat-3052	84	29	mentioning	mention	VERB
easat-3052	84	30	that	that	SCONJ
easat-3052	84	31	"	"	PUNCT
easat-3052	84	32	there	there	PRON
easat-3052	84	33	are	be	VERB
easat-3052	84	34	many	many	ADJ
easat-3052	84	35	different	different	ADJ
easat-3052	84	36	types	type	NOUN
easat-3052	84	37	of	of	ADP
easat-3052	84	38	debt	debt	NOUN
easat-3052	84	39	,	,	PUNCT
easat-3052	84	40	and	and	CCONJ
easat-3052	84	41	at	at	ADV
easat-3052	84	42	least	least	ADV
easat-3052	84	43	two	two	NUM
easat-3052	84	44	types	type	NOUN
easat-3052	84	45	of	of	ADP
easat-3052	84	46	equity	equity	NOUN
easat-3052	84	47	[	[	X
easat-3052	84	48	...	...	X
easat-3052	84	49	]	]	X
easat-3052	84	50	,	,	PUNCT
easat-3052	84	51	plus	plus	CCONJ
easat-3052	84	52	hybrids	hybrid	NOUN
easat-3052	85	1	[	[	X
easat-3052	85	2	...	...	X
easat-3052	85	3	]	]	X
easat-3052	85	4	.	.	PUNCT
easat-3052	86	1	a	a	DET
easat-3052	86	2	firm	firm	NOUN
easat-3052	86	3	can	can	AUX
easat-3052	86	4	issue	issue	VERB
easat-3052	86	5	dozens	dozen	NOUN
easat-3052	86	6	of	of	ADP
easat-3052	86	7	different	different	ADJ
easat-3052	86	8	securities	security	NOUN
easat-3052	86	9	in	in	ADP
easat-3052	86	10	countless	countless	ADJ
easat-3052	86	11	combinations	combination	NOUN
easat-3052	86	12	"	"	PUNCT
easat-3052	86	13	(	(	PUNCT
easat-3052	86	14	p.	p.	NOUN
easat-3052	86	15	418	418	NUM
easat-3052	86	16	)	)	PUNCT
easat-3052	86	17	,	,	PUNCT
easat-3052	86	18	and	and	CCONJ
easat-3052	86	19	firms	firm	NOUN
easat-3052	86	20	do	do	VERB
easat-3052	86	21	this	this	PRON
easat-3052	86	22	to	to	PART
easat-3052	86	23	find	find	VERB
easat-3052	86	24	the	the	DET
easat-3052	86	25	best	good	ADJ
easat-3052	86	26	combination	combination	NOUN
easat-3052	86	27	that	that	PRON
easat-3052	86	28	maximizes	maximize	VERB
easat-3052	86	29	firm	firm	ADJ
easat-3052	86	30	value	value	NOUN
easat-3052	86	31	.	.	PUNCT
easat-3052	87	1	a	a	DET
easat-3052	87	2	firm	firm	NOUN
easat-3052	87	3	's	's	PART
easat-3052	87	4	capital	capital	NOUN
easat-3052	87	5	structure	structure	NOUN
easat-3052	87	6	describes	describe	VERB
easat-3052	87	7	the	the	DET
easat-3052	87	8	relative	relative	ADJ
easat-3052	87	9	amounts	amount	NOUN
easat-3052	87	10	of	of	ADP
easat-3052	87	11	various	various	ADJ
easat-3052	87	12	types	type	NOUN
easat-3052	87	13	of	of	ADP
easat-3052	87	14	securities	security	NOUN
easat-3052	87	15	used	use	VERB
easat-3052	87	16	to	to	PART
easat-3052	87	17	finance	finance	VERB
easat-3052	87	18	the	the	DET
easat-3052	87	19	firm	firm	NOUN
easat-3052	87	20	.	.	PUNCT
easat-3052	88	1	the	the	DET
easat-3052	88	2	concept	concept	NOUN
easat-3052	88	3	that	that	SCONJ
easat-3052	88	4	capital	capital	NOUN
easat-3052	88	5	structure	structure	NOUN
easat-3052	88	6	can	can	AUX
easat-3052	88	7	be	be	AUX
easat-3052	88	8	understood	understand	VERB
easat-3052	88	9	as	as	ADP
easat-3052	88	10	a	a	DET
easat-3052	88	11	reflection	reflection	NOUN
easat-3052	88	12	of	of	ADP
easat-3052	88	13	the	the	DET
easat-3052	88	14	financial	financial	ADJ
easat-3052	88	15	strategies	strategy	NOUN
easat-3052	88	16	utilized	utilize	VERB
easat-3052	88	17	to	to	PART
easat-3052	88	18	fund	fund	VERB
easat-3052	88	19	a	a	DET
easat-3052	88	20	company	company	NOUN
easat-3052	88	21	's	's	PART
easat-3052	88	22	value	value	NOUN
easat-3052	88	23	-	-	PUNCT
easat-3052	88	24	adding	add	VERB
easat-3052	88	25	operations	operation	NOUN
easat-3052	88	26	is	be	AUX
easat-3052	88	27	present	present	ADJ
easat-3052	88	28	in	in	ADP
easat-3052	88	29	the	the	DET
easat-3052	88	30	majority	majority	NOUN
easat-3052	88	31	of	of	ADP
easat-3052	88	32	definitions	definition	NOUN
easat-3052	88	33	.	.	PUNCT
easat-3052	89	1	4887	4887	NUM
easat-3052	89	2	edelweiss	edelweiss	PROPN
easat-3052	89	3	applied	apply	VERB
easat-3052	89	4	science	science	NOUN
easat-3052	89	5	and	and	CCONJ
easat-3052	89	6	technology	technology	NOUN
easat-3052	89	7	issn	issn	PROPN
easat-3052	89	8	:	:	PUNCT
easat-3052	89	9	2576	2576	NUM
easat-3052	89	10	-	-	SYM
easat-3052	89	11	8484	8484	NUM
easat-3052	89	12	vol	vol	NOUN
easat-3052	89	13	.	.	PROPN
easat-3052	89	14	8	8	NUM
easat-3052	89	15	,	,	PUNCT
easat-3052	89	16	no	no	INTJ
easat-3052	89	17	.	.	NOUN
easat-3052	90	1	6	6	NUM
easat-3052	90	2	:	:	SYM
easat-3052	90	3	4884	4884	NUM
easat-3052	90	4	-	-	SYM
easat-3052	90	5	4902	4902	NUM
easat-3052	90	6	,	,	PUNCT
easat-3052	90	7	2024	2024	NUM
easat-3052	90	8	doi	doi	NOUN
easat-3052	90	9	:	:	PUNCT
easat-3052	90	10	10.55214/25768484.v8i6.3052	10.55214/25768484.v8i6.3052	NUM
easat-3052	90	11	©	©	ADP
easat-3052	90	12	2024	2024	NUM
easat-3052	90	13	by	by	ADP
easat-3052	90	14	the	the	DET
easat-3052	90	15	author	author	NOUN
easat-3052	90	16	;	;	PUNCT
easat-3052	90	17	licensee	licensee	PROPN
easat-3052	90	18	learning	learning	NOUN
easat-3052	90	19	gate	gate	NOUN
easat-3052	90	20	moreover	moreover	ADV
easat-3052	90	21	,	,	PUNCT
easat-3052	90	22	capital	capital	NOUN
easat-3052	90	23	structure	structure	NOUN
easat-3052	90	24	decisions	decision	NOUN
easat-3052	90	25	are	be	AUX
easat-3052	90	26	often	often	ADV
easat-3052	90	27	seen	see	VERB
easat-3052	90	28	as	as	ADP
easat-3052	90	29	one	one	NUM
easat-3052	90	30	of	of	ADP
easat-3052	90	31	the	the	DET
easat-3052	90	32	most	most	ADV
easat-3052	90	33	strategic	strategic	ADJ
easat-3052	90	34	decisions	decision	NOUN
easat-3052	90	35	a	a	DET
easat-3052	90	36	firm	firm	NOUN
easat-3052	90	37	will	will	AUX
easat-3052	90	38	face	face	VERB
easat-3052	90	39	due	due	ADJ
easat-3052	90	40	to	to	ADP
easat-3052	90	41	the	the	DET
easat-3052	90	42	need	need	NOUN
easat-3052	90	43	to	to	PART
easat-3052	90	44	secure	secure	VERB
easat-3052	90	45	the	the	DET
easat-3052	90	46	necessary	necessary	ADJ
easat-3052	90	47	resources	resource	NOUN
easat-3052	90	48	to	to	PART
easat-3052	90	49	finance	finance	VERB
easat-3052	90	50	projects	project	NOUN
easat-3052	90	51	with	with	ADP
easat-3052	90	52	a	a	DET
easat-3052	90	53	positive	positive	ADJ
easat-3052	90	54	net	net	ADJ
easat-3052	90	55	present	present	ADJ
easat-3052	90	56	value	value	NOUN
easat-3052	90	57	(	(	PUNCT
easat-3052	90	58	npv	npv	NOUN
easat-3052	90	59	)	)	PUNCT
easat-3052	90	60	.	.	PUNCT
easat-3052	91	1	determining	determine	VERB
easat-3052	91	2	the	the	DET
easat-3052	91	3	optimal	optimal	ADJ
easat-3052	91	4	mix	mix	NOUN
easat-3052	91	5	between	between	ADP
easat-3052	91	6	equity	equity	NOUN
easat-3052	91	7	and	and	CCONJ
easat-3052	91	8	debt	debt	NOUN
easat-3052	91	9	not	not	PART
easat-3052	91	10	only	only	ADV
easat-3052	91	11	helps	helps	AUX
easat-3052	91	12	lower	low	ADJ
easat-3052	91	13	the	the	DET
easat-3052	91	14	weighted	weighted	ADJ
easat-3052	91	15	average	average	ADJ
easat-3052	91	16	cost	cost	NOUN
easat-3052	91	17	of	of	ADP
easat-3052	91	18	capital	capital	NOUN
easat-3052	91	19	(	(	PUNCT
easat-3052	91	20	wacc	wacc	PROPN
easat-3052	91	21	)	)	PUNCT
easat-3052	91	22	but	but	CCONJ
easat-3052	91	23	can	can	AUX
easat-3052	91	24	also	also	ADV
easat-3052	91	25	potentially	potentially	ADV
easat-3052	91	26	increase	increase	VERB
easat-3052	91	27	the	the	DET
easat-3052	91	28	value	value	NOUN
easat-3052	91	29	for	for	ADP
easat-3052	91	30	shareholders	shareholder	NOUN
easat-3052	91	31	and	and	CCONJ
easat-3052	91	32	the	the	DET
easat-3052	91	33	firm	firm	NOUN
easat-3052	91	34	(	(	PUNCT
easat-3052	91	35	berk	berk	PROPN
easat-3052	91	36	and	and	CCONJ
easat-3052	91	37	demarzo	demarzo	NOUN
easat-3052	91	38	,	,	PUNCT
easat-3052	91	39	2019	2019	NUM
easat-3052	91	40	)	)	PUNCT
easat-3052	91	41	.	.	PUNCT
easat-3052	92	1	therefore	therefore	ADV
easat-3052	92	2	,	,	PUNCT
easat-3052	92	3	capital	capital	NOUN
easat-3052	92	4	structure	structure	NOUN
easat-3052	92	5	decisions	decision	NOUN
easat-3052	92	6	regarding	regard	VERB
easat-3052	92	7	the	the	DET
easat-3052	92	8	balance	balance	NOUN
easat-3052	92	9	between	between	ADP
easat-3052	92	10	internal	internal	ADJ
easat-3052	92	11	financing	financing	NOUN
easat-3052	92	12	,	,	PUNCT
easat-3052	92	13	equity	equity	NOUN
easat-3052	92	14	,	,	PUNCT
easat-3052	92	15	and	and	CCONJ
easat-3052	92	16	debt	debt	NOUN
easat-3052	92	17	can	can	AUX
easat-3052	92	18	not	not	PART
easat-3052	92	19	be	be	AUX
easat-3052	92	20	taken	take	VERB
easat-3052	92	21	lightly	lightly	ADV
easat-3052	92	22	.	.	PUNCT
easat-3052	93	1	these	these	DET
easat-3052	93	2	sources	source	NOUN
easat-3052	93	3	are	be	AUX
easat-3052	93	4	viewed	view	VERB
easat-3052	93	5	in	in	ADP
easat-3052	93	6	the	the	DET
easat-3052	93	7	literature	literature	NOUN
easat-3052	93	8	as	as	ADP
easat-3052	93	9	the	the	DET
easat-3052	93	10	primary	primary	ADJ
easat-3052	93	11	financing	financing	NOUN
easat-3052	93	12	methods	method	NOUN
easat-3052	93	13	and	and	CCONJ
easat-3052	93	14	thus	thus	ADV
easat-3052	93	15	represent	represent	VERB
easat-3052	93	16	the	the	DET
easat-3052	93	17	capital	capital	NOUN
easat-3052	93	18	structure	structure	NOUN
easat-3052	93	19	of	of	ADP
easat-3052	93	20	firms	firm	NOUN
easat-3052	93	21	.	.	PUNCT
easat-3052	94	1	the	the	DET
easat-3052	94	2	query	query	NOUN
easat-3052	94	3	that	that	PRON
easat-3052	94	4	myers	myers	PROPN
easat-3052	94	5	asked	ask	VERB
easat-3052	94	6	was	be	AUX
easat-3052	94	7	,	,	PUNCT
easat-3052	94	8	"	"	PUNCT
easat-3052	94	9	what	what	DET
easat-3052	94	10	combination	combination	NOUN
easat-3052	94	11	of	of	ADP
easat-3052	94	12	these	these	DET
easat-3052	94	13	two	two	NUM
easat-3052	94	14	sources	source	NOUN
easat-3052	94	15	works	work	VERB
easat-3052	94	16	best	good	ADJ
easat-3052	94	17	?	?	PUNCT
easat-3052	95	1	is	be	AUX
easat-3052	95	2	still	still	ADV
easat-3052	95	3	seeks	seek	VERB
easat-3052	95	4	a	a	DET
easat-3052	95	5	difficult	difficult	ADJ
easat-3052	95	6	-	-	PUNCT
easat-3052	95	7	to	to	PART
easat-3052	95	8	-	-	PUNCT
easat-3052	95	9	resolve	resolve	VERB
easat-3052	95	10	an	an	DET
easat-3052	95	11	answer	answer	NOUN
easat-3052	95	12	today	today	NOUN
easat-3052	95	13	.	.	PUNCT
easat-3052	96	1	furthermore	furthermore	ADV
easat-3052	96	2	,	,	PUNCT
easat-3052	96	3	we	we	PRON
easat-3052	96	4	can	can	AUX
easat-3052	96	5	say	say	VERB
easat-3052	96	6	that	that	SCONJ
easat-3052	96	7	"	"	PUNCT
easat-3052	96	8	there	there	PRON
easat-3052	96	9	is	be	VERB
easat-3052	96	10	no	no	DET
easat-3052	96	11	universal	universal	ADJ
easat-3052	96	12	theory	theory	NOUN
easat-3052	96	13	for	for	ADP
easat-3052	96	14	the	the	DET
easat-3052	96	15	choice	choice	NOUN
easat-3052	96	16	between	between	ADP
easat-3052	96	17	debt	debt	NOUN
easat-3052	96	18	and	and	CCONJ
easat-3052	96	19	equity	equity	NOUN
easat-3052	96	20	,	,	PUNCT
easat-3052	96	21	and	and	CCONJ
easat-3052	96	22	there	there	PRON
easat-3052	96	23	is	be	VERB
easat-3052	96	24	no	no	DET
easat-3052	96	25	reason	reason	NOUN
easat-3052	96	26	to	to	PART
easat-3052	96	27	expect	expect	VERB
easat-3052	96	28	one	one	NUM
easat-3052	96	29	"	"	PUNCT
easat-3052	96	30	(	(	PUNCT
easat-3052	96	31	myers	myers	PROPN
easat-3052	96	32	,	,	PUNCT
easat-3052	96	33	2001	2001	NUM
easat-3052	96	34	,	,	PUNCT
easat-3052	96	35	p.	p.	NOUN
easat-3052	96	36	81	81	NUM
easat-3052	96	37	)	)	PUNCT
easat-3052	96	38	.	.	PUNCT
easat-3052	97	1	despite	despite	SCONJ
easat-3052	97	2	decades	decade	NOUN
easat-3052	97	3	of	of	ADP
easat-3052	97	4	intensive	intensive	ADJ
easat-3052	97	5	research	research	NOUN
easat-3052	97	6	,	,	PUNCT
easat-3052	97	7	there	there	PRON
easat-3052	97	8	is	be	VERB
easat-3052	97	9	a	a	DET
easat-3052	97	10	surprisingly	surprisingly	ADV
easat-3052	97	11	lack	lack	NOUN
easat-3052	97	12	of	of	ADP
easat-3052	97	13	consensus	consensus	NOUN
easat-3052	97	14	even	even	ADV
easat-3052	97	15	on	on	ADP
easat-3052	97	16	many	many	ADJ
easat-3052	97	17	empirically	empirically	ADV
easat-3052	97	18	-	-	PUNCT
easat-3052	97	19	based	base	VERB
easat-3052	97	20	facts	fact	NOUN
easat-3052	97	21	.	.	PUNCT
easat-3052	98	1	this	this	PRON
easat-3052	98	2	is	be	AUX
easat-3052	98	3	unfortunate	unfortunate	ADJ
easat-3052	98	4	for	for	ADP
easat-3052	98	5	empirical	empirical	ADJ
easat-3052	98	6	research	research	NOUN
easat-3052	98	7	in	in	ADP
easat-3052	98	8	corporate	corporate	ADJ
easat-3052	98	9	finance	finance	NOUN
easat-3052	98	10	,	,	PUNCT
easat-3052	98	11	as	as	SCONJ
easat-3052	98	12	it	it	PRON
easat-3052	98	13	remains	remain	VERB
easat-3052	98	14	unclear	unclear	ADJ
easat-3052	98	15	what	what	PRON
easat-3052	98	16	consensus	consensus	NOUN
easat-3052	98	17	exists	exist	VERB
easat-3052	98	18	on	on	ADP
easat-3052	98	19	the	the	DET
easat-3052	98	20	factors	factor	NOUN
easat-3052	98	21	that	that	PRON
easat-3052	98	22	should	should	AUX
easat-3052	98	23	be	be	AUX
easat-3052	98	24	controlled	control	VERB
easat-3052	98	25	for	for	ADP
easat-3052	98	26	what	what	PRON
easat-3052	98	27	we	we	PRON
easat-3052	98	28	already	already	ADV
easat-3052	98	29	know	know	VERB
easat-3052	98	30	.	.	PUNCT
easat-3052	99	1	for	for	ADP
easat-3052	99	2	this	this	DET
easat-3052	99	3	reason	reason	NOUN
easat-3052	99	4	,	,	PUNCT
easat-3052	99	5	additional	additional	ADJ
easat-3052	99	6	empirical	empirical	ADJ
easat-3052	99	7	studies	study	NOUN
easat-3052	99	8	on	on	ADP
easat-3052	99	9	this	this	DET
easat-3052	99	10	issue	issue	NOUN
easat-3052	99	11	have	have	AUX
easat-3052	99	12	been	be	AUX
easat-3052	99	13	conducted	conduct	VERB
easat-3052	99	14	and	and	CCONJ
easat-3052	99	15	will	will	AUX
easat-3052	99	16	continue	continue	VERB
easat-3052	99	17	to	to	PART
easat-3052	99	18	be	be	AUX
easat-3052	99	19	conducted	conduct	VERB
easat-3052	99	20	to	to	PART
easat-3052	99	21	bring	bring	VERB
easat-3052	99	22	forth	forth	ADP
easat-3052	99	23	further	further	ADJ
easat-3052	99	24	facts	fact	NOUN
easat-3052	99	25	regarding	regard	VERB
easat-3052	99	26	capital	capital	NOUN
easat-3052	99	27	structure	structure	NOUN
easat-3052	99	28	theories	theory	NOUN
easat-3052	99	29	.	.	PUNCT
easat-3052	100	1	a	a	DET
easat-3052	100	2	quick	quick	ADJ
easat-3052	100	3	overview	overview	NOUN
easat-3052	100	4	of	of	ADP
easat-3052	100	5	the	the	DET
easat-3052	100	6	literature	literature	NOUN
easat-3052	100	7	highlights	highlight	VERB
easat-3052	100	8	the	the	DET
easat-3052	100	9	broad	broad	ADJ
easat-3052	100	10	academic	academic	ADJ
easat-3052	100	11	interest	interest	NOUN
easat-3052	100	12	in	in	ADP
easat-3052	100	13	this	this	DET
easat-3052	100	14	aspect	aspect	NOUN
easat-3052	100	15	.	.	PUNCT
easat-3052	101	1	the	the	DET
easat-3052	101	2	issue	issue	NOUN
easat-3052	101	3	of	of	ADP
easat-3052	101	4	capital	capital	NOUN
easat-3052	101	5	structure	structure	NOUN
easat-3052	101	6	has	have	AUX
easat-3052	101	7	been	be	AUX
easat-3052	101	8	taken	take	VERB
easat-3052	101	9	up	up	ADP
easat-3052	101	10	,	,	PUNCT
easat-3052	101	11	examined	examine	VERB
easat-3052	101	12	,	,	PUNCT
easat-3052	101	13	and	and	CCONJ
easat-3052	101	14	developed	develop	VERB
easat-3052	101	15	further	far	ADV
easat-3052	101	16	,	,	PUNCT
easat-3052	101	17	bringing	bring	VERB
easat-3052	101	18	in	in	ADP
easat-3052	101	19	fresh	fresh	ADJ
easat-3052	101	20	perspectives	perspective	NOUN
easat-3052	101	21	that	that	PRON
easat-3052	101	22	modigliani	modigliani	PROPN
easat-3052	101	23	and	and	CCONJ
easat-3052	101	24	miller	miller	PROPN
easat-3052	101	25	had	have	AUX
easat-3052	101	26	not	not	PART
easat-3052	101	27	previously	previously	ADV
easat-3052	101	28	taken	take	VERB
easat-3052	101	29	into	into	ADP
easat-3052	101	30	account	account	NOUN
easat-3052	101	31	.	.	PUNCT
easat-3052	102	1	various	various	ADJ
easat-3052	102	2	authors	author	NOUN
easat-3052	102	3	have	have	AUX
easat-3052	102	4	studied	study	VERB
easat-3052	102	5	specific	specific	ADJ
easat-3052	102	6	firm	firm	ADJ
easat-3052	102	7	factors	factor	NOUN
easat-3052	102	8	that	that	PRON
easat-3052	102	9	influence	influence	VERB
easat-3052	102	10	its	its	PRON
easat-3052	102	11	financial	financial	ADJ
easat-3052	102	12	decisions	decision	NOUN
easat-3052	102	13	(	(	PUNCT
easat-3052	102	14	titman	titman	NOUN
easat-3052	102	15	and	and	CCONJ
easat-3052	102	16	wessels	wessels	PROPN
easat-3052	102	17	,	,	PUNCT
easat-3052	102	18	1988	1988	NUM
easat-3052	102	19	;	;	PUNCT
easat-3052	102	20	rajan	rajan	PROPN
easat-3052	102	21	and	and	CCONJ
easat-3052	102	22	zingales	zingale	NOUN
easat-3052	102	23	,	,	PUNCT
easat-3052	102	24	1995	1995	NUM
easat-3052	102	25	;	;	PUNCT
easat-3052	102	26	antoniou	antoniou	PROPN
easat-3052	102	27	et	et	PROPN
easat-3052	102	28	al	al	PROPN
easat-3052	102	29	.	.	PROPN
easat-3052	102	30	,	,	PUNCT
easat-3052	102	31	2002	2002	NUM
easat-3052	102	32	;	;	PUNCT
easat-3052	102	33	frank	frank	PROPN
easat-3052	102	34	and	and	CCONJ
easat-3052	102	35	goyal	goyal	PROPN
easat-3052	102	36	,	,	PUNCT
easat-3052	102	37	2009	2009	NUM
easat-3052	102	38	;	;	PUNCT
easat-3052	102	39	frank	frank	PROPN
easat-3052	102	40	and	and	CCONJ
easat-3052	102	41	goyal	goyal	PROPN
easat-3052	102	42	,	,	PUNCT
easat-3052	102	43	2003	2003	NUM
easat-3052	102	44	)	)	PUNCT
easat-3052	102	45	,	,	PUNCT
easat-3052	102	46	but	but	CCONJ
easat-3052	102	47	internal	internal	ADJ
easat-3052	102	48	country	country	NOUN
easat-3052	102	49	factors	factor	NOUN
easat-3052	102	50	are	be	AUX
easat-3052	102	51	equally	equally	ADV
easat-3052	102	52	important	important	ADJ
easat-3052	102	53	as	as	ADP
easat-3052	102	54	firm	firm	ADJ
easat-3052	102	55	characteristics	characteristic	NOUN
easat-3052	102	56	in	in	ADP
easat-3052	102	57	determining	determine	VERB
easat-3052	102	58	a	a	DET
easat-3052	102	59	firm	firm	NOUN
easat-3052	102	60	's	's	PART
easat-3052	102	61	financial	financial	ADJ
easat-3052	102	62	leverage	leverage	NOUN
easat-3052	102	63	(	(	PUNCT
easat-3052	102	64	cheng	cheng	PROPN
easat-3052	102	65	and	and	CCONJ
easat-3052	102	66	shiu	shiu	PROPN
easat-3052	102	67	,	,	PUNCT
easat-3052	102	68	2004	2004	NUM
easat-3052	102	69	)	)	PUNCT
easat-3052	102	70	.	.	PUNCT
easat-3052	103	1	through	through	ADP
easat-3052	103	2	their	their	PRON
easat-3052	103	3	scientific	scientific	ADJ
easat-3052	103	4	works	work	NOUN
easat-3052	103	5	,	,	PUNCT
easat-3052	103	6	frank	frank	ADJ
easat-3052	103	7	and	and	CCONJ
easat-3052	103	8	goyal	goyal	PROPN
easat-3052	103	9	present	present	VERB
easat-3052	103	10	a	a	DET
easat-3052	103	11	summary	summary	NOUN
easat-3052	103	12	of	of	ADP
easat-3052	103	13	all	all	DET
easat-3052	103	14	the	the	DET
easat-3052	103	15	debates	debate	NOUN
easat-3052	103	16	that	that	PRON
easat-3052	103	17	have	have	AUX
easat-3052	103	18	emerged	emerge	VERB
easat-3052	103	19	in	in	ADP
easat-3052	103	20	capital	capital	NOUN
easat-3052	103	21	structure	structure	NOUN
easat-3052	103	22	theories	theory	NOUN
easat-3052	103	23	regarding	regard	VERB
easat-3052	103	24	the	the	DET
easat-3052	103	25	essential	essential	ADJ
easat-3052	103	26	factors	factor	NOUN
easat-3052	103	27	that	that	PRON
easat-3052	103	28	influence	influence	VERB
easat-3052	103	29	the	the	DET
easat-3052	103	30	determination	determination	NOUN
easat-3052	103	31	of	of	ADP
easat-3052	103	32	companies	company	NOUN
easat-3052	103	33	'	'	PART
easat-3052	103	34	financial	financial	ADJ
easat-3052	103	35	leverage	leverage	NOUN
easat-3052	103	36	.	.	PUNCT
easat-3052	104	1	in	in	ADP
easat-3052	104	2	order	order	NOUN
easat-3052	104	3	to	to	PART
easat-3052	104	4	determine	determine	VERB
easat-3052	104	5	which	which	DET
easat-3052	104	6	theory	theory	NOUN
easat-3052	104	7	best	well	ADV
easat-3052	104	8	describes	describe	VERB
easat-3052	104	9	how	how	SCONJ
easat-3052	104	10	capital	capital	NOUN
easat-3052	104	11	structure	structure	NOUN
easat-3052	104	12	is	be	AUX
easat-3052	104	13	chosen	choose	VERB
easat-3052	104	14	in	in	ADP
easat-3052	104	15	american	american	ADJ
easat-3052	104	16	enterprises	enterprise	NOUN
easat-3052	104	17	during	during	ADP
easat-3052	104	18	the	the	DET
easat-3052	104	19	period	period	NOUN
easat-3052	104	20	under	under	ADP
easat-3052	104	21	consideration	consideration	NOUN
easat-3052	104	22	,	,	PUNCT
easat-3052	104	23	they	they	PRON
easat-3052	104	24	evaluate	evaluate	VERB
easat-3052	104	25	two	two	NUM
easat-3052	104	26	well	well	ADV
easat-3052	104	27	-	-	PUNCT
easat-3052	104	28	known	know	VERB
easat-3052	104	29	theories	theory	NOUN
easat-3052	104	30	at	at	ADP
easat-3052	104	31	the	the	DET
easat-3052	104	32	same	same	ADJ
easat-3052	104	33	time	time	NOUN
easat-3052	104	34	:	:	PUNCT
easat-3052	104	35	the	the	DET
easat-3052	104	36	pecking	pecking	NOUN
easat-3052	104	37	order	order	NOUN
easat-3052	104	38	theory	theory	NOUN
easat-3052	104	39	and	and	CCONJ
easat-3052	104	40	the	the	DET
easat-3052	104	41	optimal	optimal	ADJ
easat-3052	104	42	capital	capital	NOUN
easat-3052	104	43	structure	structure	NOUN
easat-3052	104	44	theory	theory	NOUN
easat-3052	104	45	.	.	PUNCT
easat-3052	105	1	notably	notably	ADV
easat-3052	105	2	,	,	PUNCT
easat-3052	105	3	two	two	NUM
easat-3052	105	4	competing	compete	VERB
easat-3052	105	5	theories	theory	NOUN
easat-3052	105	6	have	have	AUX
easat-3052	105	7	garnered	garner	VERB
easat-3052	105	8	considerable	considerable	ADJ
easat-3052	105	9	interest	interest	NOUN
easat-3052	105	10	over	over	ADP
easat-3052	105	11	the	the	DET
easat-3052	105	12	years	year	NOUN
easat-3052	105	13	:	:	PUNCT
easat-3052	105	14	the	the	DET
easat-3052	105	15	optimal	optimal	ADJ
easat-3052	105	16	capital	capital	NOUN
easat-3052	105	17	structure	structure	NOUN
easat-3052	105	18	theory	theory	NOUN
easat-3052	105	19	and	and	CCONJ
easat-3052	105	20	the	the	DET
easat-3052	105	21	pecking	pecking	NOUN
easat-3052	105	22	order	order	NOUN
easat-3052	105	23	theory	theory	NOUN
easat-3052	105	24	.	.	PUNCT
easat-3052	106	1	most	most	ADJ
easat-3052	106	2	corporate	corporate	ADJ
easat-3052	106	3	finance	finance	NOUN
easat-3052	106	4	textbooks	textbook	NOUN
easat-3052	106	5	discuss	discuss	VERB
easat-3052	106	6	the	the	DET
easat-3052	106	7	"	"	PUNCT
easat-3052	106	8	trade	trade	NOUN
easat-3052	106	9	-	-	PUNCT
easat-3052	106	10	off	off	ADP
easat-3052	106	11	theory	theory	NOUN
easat-3052	106	12	,	,	PUNCT
easat-3052	106	13	"	"	PUNCT
easat-3052	106	14	in	in	ADP
easat-3052	106	15	which	which	PRON
easat-3052	106	16	taxes	taxis	NOUN
easat-3052	106	17	and	and	CCONJ
easat-3052	106	18	bankruptcy	bankruptcy	NOUN
easat-3052	106	19	costs	cost	NOUN
easat-3052	106	20	are	be	AUX
easat-3052	106	21	central	central	ADJ
easat-3052	106	22	.	.	PUNCT
easat-3052	107	1	recently	recently	ADV
easat-3052	107	2	,	,	PUNCT
easat-3052	107	3	the	the	DET
easat-3052	107	4	idea	idea	NOUN
easat-3052	107	5	that	that	SCONJ
easat-3052	107	6	firms	firm	NOUN
easat-3052	107	7	engage	engage	VERB
easat-3052	107	8	in	in	ADP
easat-3052	107	9	"	"	PUNCT
easat-3052	107	10	market	market	NOUN
easat-3052	107	11	timing	timing	NOUN
easat-3052	107	12	"	"	PUNCT
easat-3052	107	13	has	have	AUX
easat-3052	107	14	become	become	VERB
easat-3052	107	15	quite	quite	ADV
easat-3052	107	16	popular	popular	ADJ
easat-3052	107	17	.	.	PUNCT
easat-3052	108	1	this	this	PRON
easat-3052	108	2	is	be	AUX
easat-3052	108	3	often	often	ADV
easat-3052	108	4	referenced	reference	VERB
easat-3052	108	5	in	in	ADP
easat-3052	108	6	the	the	DET
easat-3052	108	7	survey	survey	NOUN
easat-3052	108	8	by	by	ADP
easat-3052	108	9	harris	harris	PROPN
easat-3052	108	10	and	and	CCONJ
easat-3052	108	11	raviv	raviv	PROPN
easat-3052	108	12	(	(	PUNCT
easat-3052	108	13	1991	1991	NUM
easat-3052	108	14	)	)	PUNCT
easat-3052	108	15	or	or	CCONJ
easat-3052	108	16	the	the	DET
easat-3052	108	17	empirical	empirical	ADJ
easat-3052	108	18	study	study	NOUN
easat-3052	108	19	by	by	ADP
easat-3052	108	20	titman	titman	NOUN
easat-3052	108	21	and	and	CCONJ
easat-3052	108	22	wessels	wessels	PROPN
easat-3052	108	23	(	(	PUNCT
easat-3052	108	24	1988	1988	NUM
easat-3052	108	25	)	)	PUNCT
easat-3052	108	26	.	.	PUNCT
easat-3052	109	1	according	accord	VERB
easat-3052	109	2	to	to	ADP
easat-3052	109	3	harris	harris	PROPN
easat-3052	109	4	and	and	CCONJ
easat-3052	109	5	raviv	raviv	PROPN
easat-3052	109	6	(	(	PUNCT
easat-3052	109	7	1991	1991	NUM
easat-3052	109	8	,	,	PUNCT
easat-3052	109	9	p.	p.	NOUN
easat-3052	109	10	334	334	NUM
easat-3052	109	11	)	)	PUNCT
easat-3052	109	12	,	,	PUNCT
easat-3052	109	13	available	available	ADJ
easat-3052	109	14	studies	study	NOUN
easat-3052	109	15	"	"	PUNCT
easat-3052	109	16	generally	generally	ADV
easat-3052	109	17	agree	agree	VERB
easat-3052	109	18	that	that	SCONJ
easat-3052	109	19	leverage	leverage	NOUN
easat-3052	109	20	increases	increase	VERB
easat-3052	109	21	with	with	ADP
easat-3052	109	22	fixed	fix	VERB
easat-3052	109	23	assets	asset	NOUN
easat-3052	109	24	,	,	PUNCT
easat-3052	109	25	tax	tax	NOUN
easat-3052	109	26	benefits	benefit	NOUN
easat-3052	109	27	from	from	ADP
easat-3052	109	28	debt	debt	NOUN
easat-3052	109	29	,	,	PUNCT
easat-3052	109	30	growth	growth	NOUN
easat-3052	109	31	opportunities	opportunity	NOUN
easat-3052	109	32	,	,	PUNCT
easat-3052	109	33	and	and	CCONJ
easat-3052	109	34	firm	firm	ADJ
easat-3052	109	35	size	size	NOUN
easat-3052	109	36	,	,	PUNCT
easat-3052	109	37	and	and	CCONJ
easat-3052	109	38	decreases	decrease	VERB
easat-3052	109	39	with	with	ADP
easat-3052	109	40	volatility	volatility	NOUN
easat-3052	109	41	,	,	PUNCT
easat-3052	109	42	advertising	advertising	NOUN
easat-3052	109	43	expenses	expense	NOUN
easat-3052	109	44	,	,	PUNCT
easat-3052	109	45	research	research	NOUN
easat-3052	109	46	and	and	CCONJ
easat-3052	109	47	development	development	NOUN
easat-3052	109	48	expenses	expense	NOUN
easat-3052	109	49	,	,	PUNCT
easat-3052	109	50	bankruptcy	bankruptcy	NOUN
easat-3052	109	51	probability	probability	NOUN
easat-3052	109	52	,	,	PUNCT
easat-3052	109	53	profitability	profitability	NOUN
easat-3052	109	54	,	,	PUNCT
easat-3052	109	55	and	and	CCONJ
easat-3052	109	56	product	product	NOUN
easat-3052	109	57	uniqueness	uniqueness	NOUN
easat-3052	109	58	.	.	PUNCT
easat-3052	109	59	"	"	PUNCT
easat-3052	110	1	but	but	CCONJ
easat-3052	110	2	according	accord	VERB
easat-3052	110	3	to	to	ADP
easat-3052	110	4	titman	titman	NOUN
easat-3052	110	5	and	and	CCONJ
easat-3052	110	6	wessels	wessels	PROPN
easat-3052	110	7	(	(	PUNCT
easat-3052	110	8	1988	1988	NUM
easat-3052	110	9	,	,	PUNCT
easat-3052	110	10	p.	p.	NOUN
easat-3052	110	11	17	17	NUM
easat-3052	110	12	)	)	PUNCT
easat-3052	110	13	,	,	PUNCT
easat-3052	110	14	"	"	PUNCT
easat-3052	110	15	their	their	PRON
easat-3052	110	16	results	result	NOUN
easat-3052	110	17	do	do	AUX
easat-3052	110	18	not	not	PART
easat-3052	110	19	provide	provide	VERB
easat-3052	110	20	support	support	NOUN
easat-3052	110	21	for	for	ADP
easat-3052	110	22	an	an	DET
easat-3052	110	23	effect	effect	NOUN
easat-3052	110	24	on	on	ADP
easat-3052	110	25	debt	debt	NOUN
easat-3052	110	26	ratios	ratio	NOUN
easat-3052	110	27	stemming	stem	VERB
easat-3052	110	28	from	from	ADP
easat-3052	110	29	tax	tax	NOUN
easat-3052	110	30	benefits	benefit	NOUN
easat-3052	110	31	,	,	PUNCT
easat-3052	110	32	volatility	volatility	NOUN
easat-3052	110	33	,	,	PUNCT
easat-3052	110	34	collateral	collateral	ADJ
easat-3052	110	35	value	value	NOUN
easat-3052	110	36	,	,	PUNCT
easat-3052	110	37	or	or	CCONJ
easat-3052	110	38	future	future	ADJ
easat-3052	110	39	growth	growth	NOUN
easat-3052	110	40	.	.	PUNCT
easat-3052	110	41	"	"	PUNCT
easat-3052	111	1	in	in	ADP
easat-3052	111	2	these	these	DET
easat-3052	111	3	works	work	NOUN
easat-3052	111	4	,	,	PUNCT
easat-3052	111	5	frank	frank	ADJ
easat-3052	111	6	and	and	CCONJ
easat-3052	111	7	goyal	goyal	PROPN
easat-3052	111	8	contribute	contribute	VERB
easat-3052	111	9	to	to	ADP
easat-3052	111	10	our	our	PRON
easat-3052	111	11	understanding	understanding	NOUN
easat-3052	111	12	of	of	ADP
easat-3052	111	13	capital	capital	NOUN
easat-3052	111	14	structure	structure	NOUN
easat-3052	111	15	in	in	ADP
easat-3052	111	16	several	several	ADJ
easat-3052	111	17	ways	way	NOUN
easat-3052	111	18	.	.	PUNCT
easat-3052	112	1	first	first	ADV
easat-3052	112	2	,	,	PUNCT
easat-3052	112	3	starting	start	VERB
easat-3052	112	4	with	with	ADP
easat-3052	112	5	an	an	DET
easat-3052	112	6	extensive	extensive	ADJ
easat-3052	112	7	list	list	NOUN
easat-3052	112	8	of	of	ADP
easat-3052	112	9	factors	factor	NOUN
easat-3052	112	10	from	from	ADP
easat-3052	112	11	previous	previous	ADJ
easat-3052	112	12	literature	literature	NOUN
easat-3052	112	13	(	(	PUNCT
easat-3052	112	14	frank	frank	ADJ
easat-3052	112	15	and	and	CCONJ
easat-3052	112	16	goyal	goyal	PROPN
easat-3052	112	17	,	,	PUNCT
easat-3052	112	18	2003	2003	NUM
easat-3052	112	19	)	)	PUNCT
easat-3052	112	20	,	,	PUNCT
easat-3052	112	21	they	they	PRON
easat-3052	112	22	examine	examine	VERB
easat-3052	112	23	which	which	DET
easat-3052	112	24	factors	factor	NOUN
easat-3052	112	25	are	be	AUX
easat-3052	112	26	reliably	reliably	ADV
easat-3052	112	27	significant	significant	ADJ
easat-3052	112	28	for	for	ADP
easat-3052	112	29	predicting	predict	VERB
easat-3052	112	30	leverage	leverage	NOUN
easat-3052	112	31	.	.	PUNCT
easat-3052	113	1	second	second	ADJ
easat-3052	113	2	,	,	PUNCT
easat-3052	113	3	corporate	corporate	ADJ
easat-3052	113	4	financing	financing	NOUN
easat-3052	113	5	decision	decision	NOUN
easat-3052	113	6	models	model	NOUN
easat-3052	113	7	are	be	AUX
easat-3052	113	8	likely	likely	ADJ
easat-3052	113	9	to	to	PART
easat-3052	113	10	have	have	AUX
easat-3052	113	11	changed	change	VERB
easat-3052	113	12	over	over	ADP
easat-3052	113	13	the	the	DET
easat-3052	113	14	decades	decade	NOUN
easat-3052	113	15	,	,	PUNCT
easat-3052	113	16	making	make	VERB
easat-3052	113	17	it	it	PRON
easat-3052	113	18	important	important	ADJ
easat-3052	113	19	to	to	PART
easat-3052	113	20	consider	consider	VERB
easat-3052	113	21	changes	change	NOUN
easat-3052	113	22	over	over	ADP
easat-3052	113	23	time	time	NOUN
easat-3052	113	24	.	.	PUNCT
easat-3052	114	1	finally	finally	ADV
easat-3052	114	2	,	,	PUNCT
easat-3052	114	3	it	it	PRON
easat-3052	114	4	is	be	AUX
easat-3052	114	5	argued	argue	VERB
easat-3052	114	6	that	that	SCONJ
easat-3052	114	7	different	different	ADJ
easat-3052	114	8	theories	theory	NOUN
easat-3052	114	9	apply	apply	VERB
easat-3052	114	10	to	to	ADP
easat-3052	114	11	firms	firm	NOUN
easat-3052	114	12	under	under	ADP
easat-3052	114	13	varying	vary	VERB
easat-3052	114	14	circumstances	circumstance	NOUN
easat-3052	114	15	.	.	PUNCT
easat-3052	115	1	to	to	PART
easat-3052	115	2	address	address	VERB
easat-3052	115	3	this	this	DET
easat-3052	115	4	serious	serious	ADJ
easat-3052	115	5	concern	concern	NOUN
easat-3052	115	6	,	,	PUNCT
easat-3052	115	7	the	the	DET
easat-3052	115	8	effect	effect	NOUN
easat-3052	115	9	of	of	ADP
easat-3052	115	10	conditioning	conditioning	NOUN
easat-3052	115	11	in	in	ADP
easat-3052	115	12	strong	strong	ADJ
easat-3052	115	13	circumstances	circumstance	NOUN
easat-3052	115	14	is	be	AUX
easat-3052	115	15	also	also	ADV
easat-3052	115	16	examined	examine	VERB
easat-3052	115	17	.	.	PUNCT
easat-3052	116	1	in	in	ADP
easat-3052	116	2	testing	testing	NOUN
easat-3052	116	3	which	which	DET
easat-3052	116	4	factors	factor	NOUN
easat-3052	116	5	are	be	AUX
easat-3052	116	6	related	relate	VERB
easat-3052	116	7	to	to	ADP
easat-3052	116	8	leverage	leverage	NOUN
easat-3052	116	9	,	,	PUNCT
easat-3052	116	10	it	it	PRON
easat-3052	116	11	is	be	AUX
easat-3052	116	12	necessary	necessary	ADJ
easat-3052	116	13	to	to	PART
easat-3052	116	14	first	first	ADV
easat-3052	116	15	define	define	VERB
easat-3052	116	16	the	the	DET
easat-3052	116	17	concept	concept	NOUN
easat-3052	116	18	of	of	ADP
easat-3052	116	19	leverage	leverage	NOUN
easat-3052	116	20	.	.	PUNCT
easat-3052	117	1	various	various	ADJ
easat-3052	117	2	empirical	empirical	ADJ
easat-3052	117	3	definitions	definition	NOUN
easat-3052	117	4	have	have	AUX
easat-3052	117	5	been	be	AUX
easat-3052	117	6	used	use	VERB
easat-3052	117	7	.	.	PUNCT
easat-3052	118	1	some	some	DET
easat-3052	118	2	researchers	researcher	NOUN
easat-3052	118	3	advocate	advocate	VERB
easat-3052	118	4	for	for	ADP
easat-3052	118	5	the	the	DET
easat-3052	118	6	concept	concept	NOUN
easat-3052	118	7	of	of	ADP
easat-3052	118	8	accounting	accounting	NOUN
easat-3052	118	9	leverage	leverage	NOUN
easat-3052	118	10	,	,	PUNCT
easat-3052	118	11	while	while	SCONJ
easat-3052	118	12	others	other	NOUN
easat-3052	118	13	support	support	VERB
easat-3052	118	14	market	market	NOUN
easat-3052	118	15	leverage	leverage	NOUN
easat-3052	118	16	.	.	PUNCT
easat-3052	119	1	managers	manager	NOUN
easat-3052	119	2	prioritize	prioritize	VERB
easat-3052	119	3	accounting	accounting	NOUN
easat-3052	119	4	leverage	leverage	NOUN
easat-3052	119	5	because	because	SCONJ
easat-3052	119	6	debt	debt	NOUN
easat-3052	119	7	is	be	AUX
easat-3052	119	8	better	well	ADV
easat-3052	119	9	supported	support	VERB
easat-3052	119	10	by	by	ADP
easat-3052	119	11	physical	physical	ADJ
easat-3052	119	12	assets	asset	NOUN
easat-3052	119	13	than	than	ADP
easat-3052	119	14	by	by	ADP
easat-3052	119	15	growth	growth	NOUN
easat-3052	119	16	potential	potential	NOUN
easat-3052	119	17	,	,	PUNCT
easat-3052	119	18	according	accord	VERB
easat-3052	119	19	to	to	ADP
easat-3052	119	20	myers	myers	PROPN
easat-3052	119	21	(	(	PUNCT
easat-3052	119	22	1977	1977	NUM
easat-3052	119	23	)	)	PUNCT
easat-3052	119	24	.	.	PUNCT
easat-3052	120	1	accounting	accounting	NOUN
easat-3052	120	2	leverage	leverage	NOUN
easat-3052	120	3	is	be	AUX
easat-3052	120	4	also	also	ADV
easat-3052	120	5	preferred	preferred	ADJ
easat-3052	120	6	because	because	SCONJ
easat-3052	120	7	financial	financial	ADJ
easat-3052	120	8	markets	market	NOUN
easat-3052	120	9	fluctuate	fluctuate	VERB
easat-3052	120	10	significantly	significantly	ADV
easat-3052	120	11	,	,	PUNCT
easat-3052	120	12	and	and	CCONJ
easat-3052	120	13	managers	manager	NOUN
easat-3052	120	14	are	be	AUX
easat-3052	120	15	said	say	VERB
easat-3052	120	16	to	to	PART
easat-3052	120	17	believe	believe	VERB
easat-3052	120	18	that	that	SCONJ
easat-3052	120	19	market	market	NOUN
easat-3052	120	20	leverage	leverage	NOUN
easat-3052	120	21	figures	figure	NOUN
easat-3052	120	22	are	be	AUX
easat-3052	120	23	not	not	PART
easat-3052	120	24	reliable	reliable	ADJ
easat-3052	120	25	as	as	ADP
easat-3052	120	26	a	a	DET
easat-3052	120	27	guide	guide	NOUN
easat-3052	120	28	for	for	ADP
easat-3052	120	29	corporate	corporate	ADJ
easat-3052	120	30	financial	financial	ADJ
easat-3052	120	31	policy	policy	NOUN
easat-3052	120	32	.	.	PUNCT
easat-3052	121	1	in	in	ADP
easat-3052	121	2	line	line	NOUN
easat-3052	121	3	with	with	ADP
easat-3052	121	4	the	the	DET
easat-3052	121	5	academic	academic	ADJ
easat-3052	121	6	perception	perception	NOUN
easat-3052	121	7	of	of	ADP
easat-3052	121	8	managers	manager	NOUN
easat-3052	121	9	'	'	PART
easat-3052	121	10	views	view	NOUN
easat-3052	121	11	,	,	PUNCT
easat-3052	121	12	graham	graham	PROPN
easat-3052	121	13	and	and	CCONJ
easat-3052	121	14	harvey	harvey	PROPN
easat-3052	121	15	(	(	PUNCT
easat-3052	121	16	2001	2001	NUM
easat-3052	121	17	)	)	PUNCT
easat-3052	121	18	report	report	NOUN
easat-3052	121	19	that	that	SCONJ
easat-3052	121	20	a	a	DET
easat-3052	121	21	large	large	ADJ
easat-3052	121	22	number	number	NOUN
easat-3052	121	23	of	of	ADP
easat-3052	121	24	4888	4888	NUM
easat-3052	121	25	edelweiss	edelweiss	PROPN
easat-3052	121	26	applied	apply	VERB
easat-3052	121	27	science	science	NOUN
easat-3052	121	28	and	and	CCONJ
easat-3052	121	29	technology	technology	NOUN
easat-3052	121	30	issn	issn	PROPN
easat-3052	121	31	:	:	PUNCT
easat-3052	121	32	2576	2576	NUM
easat-3052	121	33	-	-	SYM
easat-3052	121	34	8484	8484	NUM
easat-3052	121	35	vol	vol	NOUN
easat-3052	121	36	.	.	PROPN
easat-3052	121	37	8	8	NUM
easat-3052	121	38	,	,	PUNCT
easat-3052	121	39	no	no	INTJ
easat-3052	121	40	.	.	NOUN
easat-3052	122	1	6	6	NUM
easat-3052	122	2	:	:	SYM
easat-3052	122	3	4884	4884	NUM
easat-3052	122	4	-	-	SYM
easat-3052	122	5	4902	4902	NUM
easat-3052	122	6	,	,	PUNCT
easat-3052	122	7	2024	2024	NUM
easat-3052	122	8	doi	doi	NOUN
easat-3052	122	9	:	:	PUNCT
easat-3052	122	10	10.55214/25768484.v8i6.3052	10.55214/25768484.v8i6.3052	NUM
easat-3052	122	11	©	©	ADP
easat-3052	122	12	2024	2024	NUM
easat-3052	122	13	by	by	ADP
easat-3052	122	14	the	the	DET
easat-3052	122	15	author	author	NOUN
easat-3052	122	16	;	;	PUNCT
easat-3052	122	17	licensee	licensee	PROPN
easat-3052	122	18	learning	learn	VERB
easat-3052	122	19	gate	gate	NOUN
easat-3052	122	20	managers	manager	NOUN
easat-3052	122	21	indicate	indicate	VERB
easat-3052	122	22	they	they	PRON
easat-3052	122	23	do	do	AUX
easat-3052	122	24	not	not	PART
easat-3052	122	25	rebalance	rebalance	VERB
easat-3052	122	26	their	their	PRON
easat-3052	122	27	capital	capital	NOUN
easat-3052	122	28	structure	structure	NOUN
easat-3052	122	29	in	in	ADP
easat-3052	122	30	response	response	NOUN
easat-3052	122	31	to	to	ADP
easat-3052	122	32	movements	movement	NOUN
easat-3052	122	33	in	in	ADP
easat-3052	122	34	the	the	DET
easat-3052	122	35	capital	capital	NOUN
easat-3052	122	36	markets	market	NOUN
easat-3052	122	37	.	.	PUNCT
easat-3052	123	1	adjustment	adjustment	NOUN
easat-3052	123	2	expenses	expense	NOUN
easat-3052	123	3	make	make	VERB
easat-3052	123	4	it	it	PRON
easat-3052	123	5	impossible	impossible	ADJ
easat-3052	123	6	for	for	SCONJ
easat-3052	123	7	businesses	business	NOUN
easat-3052	123	8	to	to	PART
easat-3052	123	9	continuously	continuously	ADV
easat-3052	123	10	rebalance	rebalance	VERB
easat-3052	123	11	their	their	PRON
easat-3052	123	12	capital	capital	NOUN
easat-3052	123	13	structure	structure	NOUN
easat-3052	123	14	.	.	PUNCT
easat-3052	124	1	proponents	proponent	NOUN
easat-3052	124	2	of	of	ADP
easat-3052	124	3	market	market	NOUN
easat-3052	124	4	leverage	leverage	NOUN
easat-3052	124	5	argue	argue	VERB
easat-3052	124	6	that	that	SCONJ
easat-3052	124	7	the	the	DET
easat-3052	124	8	book	book	NOUN
easat-3052	124	9	value	value	NOUN
easat-3052	124	10	of	of	ADP
easat-3052	124	11	equity	equity	NOUN
easat-3052	124	12	is	be	AUX
easat-3052	124	13	mainly	mainly	ADV
easat-3052	124	14	a	a	DET
easat-3052	124	15	"	"	PUNCT
easat-3052	124	16	number	number	NOUN
easat-3052	124	17	"	"	PUNCT
easat-3052	124	18	used	use	VERB
easat-3052	124	19	to	to	PART
easat-3052	124	20	balance	balance	VERB
easat-3052	124	21	the	the	DET
easat-3052	124	22	left	left	ADJ
easat-3052	124	23	and	and	CCONJ
easat-3052	124	24	right	right	ADJ
easat-3052	124	25	sides	side	NOUN
easat-3052	124	26	of	of	ADP
easat-3052	124	27	the	the	DET
easat-3052	124	28	balance	balance	NOUN
easat-3052	124	29	sheet	sheet	NOUN
easat-3052	124	30	rather	rather	ADV
easat-3052	124	31	than	than	ADP
easat-3052	124	32	a	a	DET
easat-3052	124	33	significant	significant	ADJ
easat-3052	124	34	figure	figure	NOUN
easat-3052	124	35	in	in	ADP
easat-3052	124	36	managerial	managerial	ADJ
easat-3052	124	37	aspects	aspect	NOUN
easat-3052	124	38	(	(	PUNCT
easat-3052	124	39	welch	welch	PROPN
easat-3052	124	40	,	,	PUNCT
easat-3052	124	41	2004	2004	NUM
easat-3052	124	42	)	)	PUNCT
easat-3052	124	43	.	.	PUNCT
easat-3052	125	1	the	the	DET
easat-3052	125	2	book	book	NOUN
easat-3052	125	3	value	value	NOUN
easat-3052	125	4	is	be	AUX
easat-3052	125	5	focused	focus	VERB
easat-3052	125	6	from	from	ADP
easat-3052	125	7	a	a	DET
easat-3052	125	8	retrospective	retrospective	ADJ
easat-3052	125	9	viewpoint	viewpoint	NOUN
easat-3052	125	10	,	,	PUNCT
easat-3052	125	11	reflecting	reflect	VERB
easat-3052	125	12	what	what	PRON
easat-3052	125	13	has	have	AUX
easat-3052	125	14	happened	happen	VERB
easat-3052	125	15	over	over	ADP
easat-3052	125	16	time	time	NOUN
easat-3052	125	17	,	,	PUNCT
easat-3052	125	18	while	while	SCONJ
easat-3052	125	19	market	market	NOUN
easat-3052	125	20	value	value	NOUN
easat-3052	125	21	is	be	AUX
easat-3052	125	22	assumed	assume	VERB
easat-3052	125	23	to	to	PART
easat-3052	125	24	be	be	AUX
easat-3052	125	25	forward	forward	ADV
easat-3052	125	26	-	-	PUNCT
easat-3052	125	27	looking	look	VERB
easat-3052	125	28	,	,	PUNCT
easat-3052	125	29	reflecting	reflect	VERB
easat-3052	125	30	what	what	PRON
easat-3052	125	31	might	might	AUX
easat-3052	125	32	happen	happen	VERB
easat-3052	125	33	in	in	ADP
easat-3052	125	34	the	the	DET
easat-3052	125	35	future	future	NOUN
easat-3052	125	36	as	as	ADP
easat-3052	125	37	a	a	DET
easat-3052	125	38	result	result	NOUN
easat-3052	125	39	of	of	ADP
easat-3052	125	40	information	information	NOUN
easat-3052	125	41	derived	derive	VERB
easat-3052	125	42	from	from	ADP
easat-3052	125	43	financial	financial	ADJ
easat-3052	125	44	markets	market	NOUN
easat-3052	125	45	.	.	PUNCT
easat-3052	126	1	the	the	DET
easat-3052	126	2	main	main	ADJ
easat-3052	126	3	focus	focus	NOUN
easat-3052	126	4	of	of	ADP
easat-3052	126	5	the	the	DET
easat-3052	126	6	study	study	NOUN
easat-3052	126	7	by	by	ADP
easat-3052	126	8	frank	frank	PROPN
easat-3052	126	9	and	and	CCONJ
easat-3052	126	10	goyal	goyal	PROPN
easat-3052	126	11	is	be	AUX
easat-3052	126	12	on	on	ADP
easat-3052	126	13	the	the	DET
easat-3052	126	14	ratio	ratio	NOUN
easat-3052	126	15	of	of	ADP
easat-3052	126	16	total	total	ADJ
easat-3052	126	17	debt	debt	NOUN
easat-3052	126	18	to	to	ADP
easat-3052	126	19	the	the	DET
easat-3052	126	20	market	market	NOUN
easat-3052	126	21	value	value	NOUN
easat-3052	126	22	of	of	ADP
easat-3052	126	23	assets	asset	NOUN
easat-3052	126	24	(	(	PUNCT
easat-3052	126	25	tdv	tdv	NOUN
easat-3052	126	26	)	)	PUNCT
easat-3052	126	27	.	.	PUNCT
easat-3052	127	1	using	use	VERB
easat-3052	127	2	a	a	DET
easat-3052	127	3	sample	sample	NOUN
easat-3052	127	4	of	of	ADP
easat-3052	127	5	publicly	publicly	ADV
easat-3052	127	6	traded	trade	VERB
easat-3052	127	7	u.s	u.s	PROPN
easat-3052	127	8	.	.	PROPN
easat-3052	127	9	firms	firm	NOUN
easat-3052	127	10	from	from	ADP
easat-3052	127	11	1950	1950	NUM
easat-3052	127	12	to	to	ADP
easat-3052	127	13	2003	2003	NUM
easat-3052	127	14	,	,	PUNCT
easat-3052	127	15	based	base	VERB
easat-3052	127	16	on	on	ADP
easat-3052	127	17	previous	previous	ADJ
easat-3052	127	18	literature	literature	NOUN
easat-3052	127	19	definitions	definition	NOUN
easat-3052	127	20	of	of	ADP
easat-3052	127	21	market	market	NOUN
easat-3052	127	22	leverage	leverage	NOUN
easat-3052	127	23	,	,	PUNCT
easat-3052	127	24	the	the	DET
easat-3052	127	25	authors	author	NOUN
easat-3052	127	26	find	find	VERB
easat-3052	127	27	through	through	ADP
easat-3052	127	28	empirical	empirical	ADJ
easat-3052	127	29	facts	fact	NOUN
easat-3052	127	30	that	that	SCONJ
easat-3052	127	31	a	a	DET
easat-3052	127	32	set	set	NOUN
easat-3052	127	33	of	of	ADP
easat-3052	127	34	six	six	NUM
easat-3052	127	35	factors	factor	NOUN
easat-3052	127	36	accounts	account	VERB
easat-3052	127	37	for	for	ADP
easat-3052	127	38	more	more	ADJ
easat-3052	127	39	than	than	ADP
easat-3052	127	40	27	27	NUM
easat-3052	127	41	%	%	NOUN
easat-3052	127	42	of	of	ADP
easat-3052	127	43	the	the	DET
easat-3052	127	44	variation	variation	NOUN
easat-3052	127	45	in	in	ADP
easat-3052	127	46	leverage	leverage	NOUN
easat-3052	127	47	,	,	PUNCT
easat-3052	127	48	while	while	SCONJ
easat-3052	127	49	the	the	DET
easat-3052	127	50	remaining	remain	VERB
easat-3052	127	51	factors	factor	NOUN
easat-3052	127	52	contribute	contribute	VERB
easat-3052	127	53	only	only	ADV
easat-3052	127	54	2	2	NUM
easat-3052	127	55	%	%	NOUN
easat-3052	127	56	.	.	PUNCT
easat-3052	128	1	they	they	PRON
easat-3052	128	2	call	call	VERB
easat-3052	128	3	this	this	DET
easat-3052	128	4	set	set	NOUN
easat-3052	128	5	of	of	ADP
easat-3052	128	6	six	six	NUM
easat-3052	128	7	factors	factor	NOUN
easat-3052	128	8	"	"	PUNCT
easat-3052	128	9	core	core	NOUN
easat-3052	128	10	factors	factor	NOUN
easat-3052	128	11	"	"	PUNCT
easat-3052	128	12	and	and	CCONJ
easat-3052	128	13	the	the	DET
easat-3052	128	14	model	model	NOUN
easat-3052	128	15	that	that	PRON
easat-3052	128	16	includes	include	VERB
easat-3052	128	17	these	these	DET
easat-3052	128	18	factors	factor	NOUN
easat-3052	128	19	"	"	PUNCT
easat-3052	128	20	the	the	DET
easat-3052	128	21	core	core	NOUN
easat-3052	128	22	leverage	leverage	NOUN
easat-3052	128	23	model	model	NOUN
easat-3052	128	24	.	.	PUNCT
easat-3052	128	25	"	"	PUNCT
easat-3052	129	1	the	the	DET
easat-3052	129	2	core	core	NOUN
easat-3052	129	3	factors	factor	NOUN
easat-3052	129	4	have	have	VERB
easat-3052	129	5	stable	stable	ADJ
easat-3052	129	6	signs	sign	NOUN
easat-3052	129	7	and	and	CCONJ
easat-3052	129	8	statistical	statistical	ADJ
easat-3052	129	9	significance	significance	NOUN
easat-3052	129	10	across	across	ADP
easat-3052	129	11	many	many	ADJ
easat-3052	129	12	alternative	alternative	ADJ
easat-3052	129	13	data	datum	NOUN
easat-3052	129	14	treatments	treatment	NOUN
easat-3052	129	15	studied	study	VERB
easat-3052	129	16	empirically	empirically	ADV
easat-3052	129	17	.	.	PUNCT
easat-3052	130	1	the	the	DET
easat-3052	130	2	remaining	remain	VERB
easat-3052	130	3	factors	factor	NOUN
easat-3052	130	4	are	be	AUX
easat-3052	130	5	not	not	PART
easat-3052	130	6	nearly	nearly	ADV
easat-3052	130	7	as	as	ADV
easat-3052	130	8	stable	stable	ADJ
easat-3052	130	9	.	.	PUNCT
easat-3052	131	1	2.1	2.1	NUM
easat-3052	131	2	.	.	PUNCT
easat-3052	131	3	theories	theory	NOUN
easat-3052	131	4	of	of	ADP
easat-3052	131	5	capital	capital	NOUN
easat-3052	131	6	structure	structure	NOUN
easat-3052	131	7	in	in	ADP
easat-3052	131	8	this	this	DET
easat-3052	131	9	paper	paper	NOUN
easat-3052	131	10	,	,	PUNCT
easat-3052	131	11	we	we	PRON
easat-3052	131	12	present	present	VERB
easat-3052	131	13	a	a	DET
easat-3052	131	14	brief	brief	ADJ
easat-3052	131	15	summary	summary	NOUN
easat-3052	131	16	of	of	ADP
easat-3052	131	17	the	the	DET
easat-3052	131	18	most	most	ADV
easat-3052	131	19	important	important	ADJ
easat-3052	131	20	and	and	CCONJ
easat-3052	131	21	widely	widely	ADV
easat-3052	131	22	accepted	accept	VERB
easat-3052	131	23	theories	theory	NOUN
easat-3052	131	24	from	from	ADP
easat-3052	131	25	the	the	DET
easat-3052	131	26	literature	literature	NOUN
easat-3052	131	27	regarding	regard	VERB
easat-3052	131	28	the	the	DET
easat-3052	131	29	impact	impact	NOUN
easat-3052	131	30	on	on	ADP
easat-3052	131	31	capital	capital	NOUN
easat-3052	131	32	structure	structure	NOUN
easat-3052	131	33	decisions	decision	NOUN
easat-3052	131	34	in	in	ADP
easat-3052	131	35	modern	modern	ADJ
easat-3052	131	36	finance	finance	NOUN
easat-3052	131	37	.	.	PUNCT
easat-3052	132	1	below	below	ADV
easat-3052	132	2	,	,	PUNCT
easat-3052	132	3	we	we	PRON
easat-3052	132	4	list	list	VERB
easat-3052	132	5	two	two	NUM
easat-3052	132	6	of	of	ADP
easat-3052	132	7	the	the	DET
easat-3052	132	8	prominent	prominent	ADJ
easat-3052	132	9	theories	theory	NOUN
easat-3052	132	10	object	object	VERB
easat-3052	132	11	for	for	ADP
easat-3052	132	12	this	this	DET
easat-3052	132	13	study	study	NOUN
easat-3052	132	14	:	:	PUNCT
easat-3052	132	15	2.2	2.2	NUM
easat-3052	132	16	.	.	PUNCT
easat-3052	132	17	trade	trade	NOUN
easat-3052	132	18	-	-	PUNCT
easat-3052	132	19	off	off	ADP
easat-3052	132	20	theory	theory	NOUN
easat-3052	132	21	the	the	DET
easat-3052	132	22	trade	trade	NOUN
easat-3052	132	23	-	-	PUNCT
easat-3052	132	24	off	off	ADP
easat-3052	132	25	theory	theory	NOUN
easat-3052	132	26	states	state	VERB
easat-3052	132	27	that	that	SCONJ
easat-3052	132	28	a	a	DET
easat-3052	132	29	trade	trade	NOUN
easat-3052	132	30	-	-	PUNCT
easat-3052	132	31	off	off	NOUN
easat-3052	132	32	between	between	ADP
easat-3052	132	33	the	the	DET
easat-3052	132	34	advantages	advantage	NOUN
easat-3052	132	35	and	and	CCONJ
easat-3052	132	36	disadvantages	disadvantage	NOUN
easat-3052	132	37	of	of	ADP
easat-3052	132	38	debt	debt	NOUN
easat-3052	132	39	determines	determine	VERB
easat-3052	132	40	capital	capital	NOUN
easat-3052	132	41	structure	structure	NOUN
easat-3052	132	42	.	.	PUNCT
easat-3052	133	1	benefits	benefit	NOUN
easat-3052	133	2	and	and	CCONJ
easat-3052	133	3	costs	cost	NOUN
easat-3052	133	4	can	can	AUX
easat-3052	133	5	be	be	AUX
easat-3052	133	6	considered	consider	VERB
easat-3052	133	7	in	in	ADP
easat-3052	133	8	various	various	ADJ
easat-3052	133	9	ways	way	NOUN
easat-3052	133	10	.	.	PUNCT
easat-3052	134	1	the	the	DET
easat-3052	134	2	"	"	PUNCT
easat-3052	134	3	tax	tax	NOUN
easat-3052	134	4	-	-	PUNCT
easat-3052	134	5	bankruptcy	bankruptcy	NOUN
easat-3052	134	6	trade	trade	NOUN
easat-3052	134	7	-	-	PUNCT
easat-3052	134	8	off	off	NOUN
easat-3052	134	9	"	"	PUNCT
easat-3052	134	10	perspective	perspective	NOUN
easat-3052	134	11	suggests	suggest	VERB
easat-3052	134	12	that	that	SCONJ
easat-3052	134	13	firms	firm	NOUN
easat-3052	134	14	balance	balance	VERB
easat-3052	134	15	the	the	DET
easat-3052	134	16	tax	tax	NOUN
easat-3052	134	17	benefits	benefit	NOUN
easat-3052	134	18	of	of	ADP
easat-3052	134	19	debt	debt	NOUN
easat-3052	134	20	against	against	ADP
easat-3052	134	21	the	the	DET
easat-3052	134	22	costs	cost	NOUN
easat-3052	134	23	of	of	ADP
easat-3052	134	24	bankruptcy	bankruptcy	NOUN
easat-3052	134	25	.	.	PUNCT
easat-3052	135	1	the	the	DET
easat-3052	135	2	"	"	PUNCT
easat-3052	135	3	agency	agency	NOUN
easat-3052	135	4	"	"	PUNCT
easat-3052	135	5	perspective	perspective	NOUN
easat-3052	135	6	posits	posit	NOUN
easat-3052	135	7	that	that	SCONJ
easat-3052	135	8	debt	debt	NOUN
easat-3052	135	9	disciplines	discipline	VERB
easat-3052	135	10	managers	manager	NOUN
easat-3052	135	11	and	and	CCONJ
easat-3052	135	12	mitigates	mitigate	VERB
easat-3052	135	13	agency	agency	NOUN
easat-3052	135	14	problems	problem	NOUN
easat-3052	135	15	concerning	concern	VERB
easat-3052	135	16	free	free	ADJ
easat-3052	135	17	cash	cash	NOUN
easat-3052	135	18	flow	flow	NOUN
easat-3052	135	19	,	,	PUNCT
easat-3052	135	20	as	as	SCONJ
easat-3052	135	21	debt	debt	NOUN
easat-3052	135	22	must	must	AUX
easat-3052	135	23	be	be	AUX
easat-3052	135	24	repaid	repay	VERB
easat-3052	135	25	to	to	PART
easat-3052	135	26	avoid	avoid	VERB
easat-3052	135	27	bankruptcy	bankruptcy	NOUN
easat-3052	135	28	(	(	PUNCT
easat-3052	135	29	jensen	jensen	PROPN
easat-3052	135	30	and	and	CCONJ
easat-3052	135	31	meckling	meckling	NOUN
easat-3052	135	32	,	,	PUNCT
easat-3052	135	33	1976	1976	NUM
easat-3052	135	34	;	;	PUNCT
easat-3052	135	35	jensen	jensen	PROPN
easat-3052	135	36	,	,	PUNCT
easat-3052	135	37	1986	1986	NUM
easat-3052	135	38	)	)	PUNCT
easat-3052	135	39	.	.	PUNCT
easat-3052	136	1	although	although	SCONJ
easat-3052	136	2	debt	debt	NOUN
easat-3052	136	3	alleviates	alleviate	VERB
easat-3052	136	4	shareholder	shareholder	NOUN
easat-3052	136	5	-	-	PUNCT
easat-3052	136	6	manager	manager	NOUN
easat-3052	136	7	conflicts	conflict	NOUN
easat-3052	136	8	,	,	PUNCT
easat-3052	136	9	it	it	PRON
easat-3052	136	10	exacerbates	exacerbate	VERB
easat-3052	136	11	shareholderdebt	shareholderdebt	NOUN
easat-3052	136	12	holder	holder	NOUN
easat-3052	136	13	conflicts	conflict	NOUN
easat-3052	136	14	(	(	PUNCT
easat-3052	136	15	stulz	stulz	ADJ
easat-3052	136	16	,	,	PUNCT
easat-3052	136	17	1990	1990	NUM
easat-3052	136	18	)	)	PUNCT
easat-3052	136	19	.	.	PUNCT
easat-3052	137	1	2.3	2.3	NUM
easat-3052	137	2	.	.	PUNCT
easat-3052	137	3	pecking	pecking	NOUN
easat-3052	137	4	order	order	NOUN
easat-3052	137	5	theory	theory	NOUN
easat-3052	137	6	while	while	SCONJ
easat-3052	137	7	the	the	DET
easat-3052	137	8	pecking	pecking	NOUN
easat-3052	137	9	order	order	NOUN
easat-3052	137	10	theory	theory	NOUN
easat-3052	137	11	(	(	PUNCT
easat-3052	137	12	pot	pot	NOUN
easat-3052	137	13	)	)	PUNCT
easat-3052	137	14	has	have	VERB
easat-3052	137	15	deep	deep	ADJ
easat-3052	137	16	roots	root	NOUN
easat-3052	137	17	in	in	ADP
easat-3052	137	18	descriptive	descriptive	ADJ
easat-3052	137	19	literature	literature	NOUN
easat-3052	137	20	,	,	PUNCT
easat-3052	137	21	it	it	PRON
easat-3052	137	22	was	be	AUX
easat-3052	137	23	clearly	clearly	ADV
easat-3052	137	24	articulated	articulate	VERB
easat-3052	137	25	by	by	ADP
easat-3052	137	26	myers	myers	PROPN
easat-3052	137	27	(	(	PUNCT
easat-3052	137	28	1984	1984	NUM
easat-3052	137	29	)	)	PUNCT
easat-3052	137	30	.	.	PUNCT
easat-3052	138	1	considering	consider	VERB
easat-3052	138	2	three	three	NUM
easat-3052	138	3	sources	source	NOUN
easat-3052	138	4	of	of	ADP
easat-3052	138	5	funds	fund	NOUN
easat-3052	138	6	available	available	ADJ
easat-3052	138	7	to	to	ADP
easat-3052	138	8	firms	firm	NOUN
easat-3052	138	9	—	—	PUNCT
easat-3052	138	10	retained	retain	VERB
easat-3052	138	11	earnings	earning	NOUN
easat-3052	138	12	,	,	PUNCT
easat-3052	138	13	debt	debt	NOUN
easat-3052	138	14	,	,	PUNCT
easat-3052	138	15	and	and	CCONJ
easat-3052	138	16	equity	equity	NOUN
easat-3052	138	17	—	—	PUNCT
easat-3052	138	18	equity	equity	NOUN
easat-3052	138	19	has	have	VERB
easat-3052	138	20	an	an	DET
easat-3052	138	21	unfavorable	unfavorable	ADJ
easat-3052	138	22	selection	selection	NOUN
easat-3052	138	23	,	,	PUNCT
easat-3052	138	24	debt	debt	NOUN
easat-3052	138	25	has	have	VERB
easat-3052	138	26	only	only	ADV
easat-3052	138	27	a	a	DET
easat-3052	138	28	small	small	ADJ
easat-3052	138	29	negative	negative	ADJ
easat-3052	138	30	selection	selection	NOUN
easat-3052	138	31	,	,	PUNCT
easat-3052	138	32	and	and	CCONJ
easat-3052	138	33	retained	retain	VERB
easat-3052	138	34	earnings	earning	NOUN
easat-3052	138	35	avoid	avoid	VERB
easat-3052	138	36	this	this	DET
easat-3052	138	37	problem	problem	NOUN
easat-3052	138	38	.	.	PUNCT
easat-3052	139	1	from	from	ADP
easat-3052	139	2	an	an	DET
easat-3052	139	3	external	external	ADJ
easat-3052	139	4	investor	investor	NOUN
easat-3052	139	5	's	's	PART
easat-3052	139	6	perspective	perspective	NOUN
easat-3052	139	7	,	,	PUNCT
easat-3052	139	8	equity	equity	NOUN
easat-3052	139	9	is	be	AUX
easat-3052	139	10	significantly	significantly	ADV
easat-3052	139	11	riskier	risky	ADJ
easat-3052	139	12	than	than	ADP
easat-3052	139	13	debt	debt	NOUN
easat-3052	139	14	.	.	PUNCT
easat-3052	140	1	for	for	ADP
easat-3052	140	2	all	all	PRON
easat-3052	140	3	but	but	SCONJ
easat-3052	140	4	the	the	DET
easat-3052	140	5	lowest	low	ADJ
easat-3052	140	6	-	-	PUNCT
easat-3052	140	7	quality	quality	NOUN
easat-3052	140	8	firms	firm	NOUN
easat-3052	140	9	,	,	PUNCT
easat-3052	140	10	the	the	DET
easat-3052	140	11	decline	decline	NOUN
easat-3052	140	12	in	in	ADP
easat-3052	140	13	net	net	ADJ
easat-3052	140	14	equity	equity	NOUN
easat-3052	140	15	valuation	valuation	NOUN
easat-3052	140	16	makes	make	VERB
easat-3052	140	17	equity	equity	NOUN
easat-3052	140	18	appear	appear	VERB
easat-3052	140	19	undervalued	undervalue	VERB
easat-3052	140	20	,	,	PUNCT
easat-3052	140	21	conditioned	condition	VERB
easat-3052	140	22	by	by	ADP
easat-3052	140	23	the	the	DET
easat-3052	140	24	issuance	issuance	NOUN
easat-3052	140	25	of	of	ADP
easat-3052	140	26	equity	equity	NOUN
easat-3052	140	27	.	.	PUNCT
easat-3052	141	1	from	from	ADP
easat-3052	141	2	the	the	DET
easat-3052	141	3	perspective	perspective	NOUN
easat-3052	141	4	of	of	ADP
easat-3052	141	5	those	those	PRON
easat-3052	141	6	within	within	ADP
easat-3052	141	7	the	the	DET
easat-3052	141	8	firm	firm	NOUN
easat-3052	141	9	,	,	PUNCT
easat-3052	141	10	retained	retain	VERB
easat-3052	141	11	earnings	earning	NOUN
easat-3052	141	12	are	be	AUX
easat-3052	141	13	a	a	DET
easat-3052	141	14	better	well	ADJ
easat-3052	141	15	source	source	NOUN
easat-3052	141	16	of	of	ADP
easat-3052	141	17	funds	fund	NOUN
easat-3052	141	18	than	than	ADP
easat-3052	141	19	external	external	ADJ
easat-3052	141	20	financing	financing	NOUN
easat-3052	141	21	.	.	PUNCT
easat-3052	142	1	thus	thus	ADV
easat-3052	142	2	,	,	PUNCT
easat-3052	142	3	retained	retain	VERB
easat-3052	142	4	earnings	earning	NOUN
easat-3052	142	5	will	will	AUX
easat-3052	142	6	be	be	AUX
easat-3052	142	7	utilized	utilize	VERB
easat-3052	142	8	whenever	whenever	SCONJ
easat-3052	142	9	possible	possible	ADJ
easat-3052	142	10	.	.	PUNCT
easat-3052	143	1	if	if	SCONJ
easat-3052	143	2	retained	retain	VERB
easat-3052	143	3	earnings	earning	NOUN
easat-3052	143	4	are	be	AUX
easat-3052	143	5	insufficient	insufficient	ADJ
easat-3052	143	6	,	,	PUNCT
easat-3052	143	7	debt	debt	NOUN
easat-3052	143	8	financing	financing	NOUN
easat-3052	143	9	will	will	AUX
easat-3052	143	10	be	be	AUX
easat-3052	143	11	used	use	VERB
easat-3052	143	12	,	,	PUNCT
easat-3052	143	13	while	while	SCONJ
easat-3052	143	14	equity	equity	NOUN
easat-3052	143	15	is	be	AUX
easat-3052	143	16	employed	employ	VERB
easat-3052	143	17	only	only	ADV
easat-3052	143	18	as	as	ADP
easat-3052	143	19	a	a	DET
easat-3052	143	20	last	last	ADJ
easat-3052	143	21	resort	resort	NOUN
easat-3052	143	22	.	.	PUNCT
easat-3052	144	1	this	this	PRON
easat-3052	144	2	is	be	AUX
easat-3052	144	3	a	a	DET
easat-3052	144	4	theory	theory	NOUN
easat-3052	144	5	of	of	ADP
easat-3052	144	6	leverage	leverage	NOUN
easat-3052	144	7	in	in	ADP
easat-3052	144	8	which	which	PRON
easat-3052	144	9	the	the	DET
easat-3052	144	10	notion	notion	NOUN
easat-3052	144	11	of	of	ADP
easat-3052	144	12	an	an	DET
easat-3052	144	13	optimal	optimal	ADJ
easat-3052	144	14	leverage	leverage	NOUN
easat-3052	144	15	ratio	ratio	NOUN
easat-3052	144	16	does	do	AUX
easat-3052	144	17	not	not	PART
easat-3052	144	18	exist	exist	VERB
easat-3052	144	19	.	.	PUNCT
easat-3052	145	1	although	although	SCONJ
easat-3052	145	2	the	the	DET
easat-3052	145	3	pecking	pecking	NOUN
easat-3052	145	4	order	order	NOUN
easat-3052	145	5	theory	theory	NOUN
easat-3052	145	6	is	be	AUX
easat-3052	145	7	almost	almost	ADV
easat-3052	145	8	always	always	ADV
easat-3052	145	9	framed	frame	VERB
easat-3052	145	10	in	in	ADP
easat-3052	145	11	terms	term	NOUN
easat-3052	145	12	of	of	ADP
easat-3052	145	13	asymmetric	asymmetric	ADJ
easat-3052	145	14	information	information	NOUN
easat-3052	145	15	,	,	PUNCT
easat-3052	145	16	it	it	PRON
easat-3052	145	17	can	can	AUX
easat-3052	145	18	also	also	ADV
easat-3052	145	19	arise	arise	VERB
easat-3052	145	20	from	from	ADP
easat-3052	145	21	tax	tax	NOUN
easat-3052	145	22	considerations	consideration	NOUN
easat-3052	145	23	,	,	PUNCT
easat-3052	145	24	agency	agency	NOUN
easat-3052	145	25	issues	issue	NOUN
easat-3052	145	26	,	,	PUNCT
easat-3052	145	27	or	or	CCONJ
easat-3052	145	28	behavioral	behavioral	ADJ
easat-3052	145	29	factors	factor	NOUN
easat-3052	145	30	.	.	PUNCT
easat-3052	146	1	3	3	X
easat-3052	146	2	.	.	X
easat-3052	146	3	data	datum	NOUN
easat-3052	146	4	and	and	CCONJ
easat-3052	146	5	methodology	methodology	NOUN
easat-3052	146	6	in	in	ADP
easat-3052	146	7	this	this	DET
easat-3052	146	8	section	section	NOUN
easat-3052	146	9	,	,	PUNCT
easat-3052	146	10	we	we	PRON
easat-3052	146	11	describe	describe	VERB
easat-3052	146	12	data	datum	NOUN
easat-3052	146	13	selection	selection	NOUN
easat-3052	146	14	,	,	PUNCT
easat-3052	146	15	variables	variable	NOUN
easat-3052	146	16	included	include	VERB
easat-3052	146	17	and	and	CCONJ
easat-3052	146	18	the	the	DET
easat-3052	146	19	model	model	NOUN
easat-3052	146	20	used	use	VERB
easat-3052	146	21	in	in	ADP
easat-3052	146	22	determining	determine	VERB
easat-3052	146	23	the	the	DET
easat-3052	146	24	impact	impact	NOUN
easat-3052	146	25	of	of	ADP
easat-3052	146	26	the	the	DET
easat-3052	146	27	specific	specific	ADJ
easat-3052	146	28	factors	factor	NOUN
easat-3052	146	29	on	on	ADP
easat-3052	146	30	firm	firm	NOUN
easat-3052	146	31	’s	’s	PART
easat-3052	146	32	capital	capital	NOUN
easat-3052	146	33	structure	structure	NOUN
easat-3052	146	34	.	.	PUNCT
easat-3052	147	1	3.1	3.1	NUM
easat-3052	147	2	.	.	PUNCT
easat-3052	147	3	data	datum	NOUN
easat-3052	147	4	selection	selection	NOUN
easat-3052	147	5	the	the	DET
easat-3052	147	6	data	data	NOUN
easat-3052	147	7	collection	collection	NOUN
easat-3052	147	8	section	section	NOUN
easat-3052	147	9	presents	present	VERB
easat-3052	147	10	and	and	CCONJ
easat-3052	147	11	analyzes	analyze	VERB
easat-3052	147	12	the	the	DET
easat-3052	147	13	theoretical	theoretical	ADJ
easat-3052	147	14	(	(	PUNCT
easat-3052	147	15	theoretical	theoretical	ADJ
easat-3052	147	16	evidence	evidence	NOUN
easat-3052	147	17	)	)	PUNCT
easat-3052	147	18	and	and	CCONJ
easat-3052	147	19	practical	practical	ADJ
easat-3052	147	20	(	(	PUNCT
easat-3052	147	21	empirical	empirical	ADJ
easat-3052	147	22	evidence	evidence	NOUN
easat-3052	147	23	)	)	PUNCT
easat-3052	148	1	sources	source	NOUN
easat-3052	148	2	that	that	PRON
easat-3052	148	3	have	have	AUX
easat-3052	148	4	been	be	AUX
easat-3052	148	5	used	use	VERB
easat-3052	148	6	as	as	ADP
easat-3052	148	7	the	the	DET
easat-3052	148	8	basis	basis	NOUN
easat-3052	148	9	for	for	ADP
easat-3052	148	10	this	this	DET
easat-3052	148	11	study	study	NOUN
easat-3052	148	12	.	.	PUNCT
easat-3052	149	1	this	this	DET
easat-3052	149	2	research	research	NOUN
easat-3052	149	3	is	be	AUX
easat-3052	149	4	based	base	VERB
easat-3052	149	5	on	on	ADP
easat-3052	149	6	data	datum	NOUN
easat-3052	149	7	collected	collect	VERB
easat-3052	149	8	from	from	ADP
easat-3052	149	9	75	75	NUM
easat-3052	149	10	non	non	ADJ
easat-3052	149	11	-	-	ADJ
easat-3052	149	12	financial	financial	ADJ
easat-3052	149	13	companies	company	NOUN
easat-3052	149	14	in	in	ADP
easat-3052	149	15	the	the	DET
easat-3052	149	16	tirana	tirana	PROPN
easat-3052	149	17	district	district	NOUN
easat-3052	149	18	,	,	PUNCT
easat-3052	149	19	randomly	randomly	ADV
easat-3052	149	20	selected	select	VERB
easat-3052	149	21	from	from	ADP
easat-3052	149	22	the	the	DET
easat-3052	149	23	total	total	ADJ
easat-3052	149	24	4889	4889	NUM
easat-3052	149	25	edelweiss	edelweiss	PROPN
easat-3052	149	26	applied	apply	VERB
easat-3052	149	27	science	science	NOUN
easat-3052	149	28	and	and	CCONJ
easat-3052	149	29	technology	technology	NOUN
easat-3052	149	30	issn	issn	PROPN
easat-3052	149	31	:	:	PUNCT
easat-3052	149	32	2576	2576	NUM
easat-3052	149	33	-	-	SYM
easat-3052	149	34	8484	8484	NUM
easat-3052	149	35	vol	vol	NOUN
easat-3052	149	36	.	.	PROPN
easat-3052	150	1	8	8	NUM
easat-3052	150	2	,	,	PUNCT
easat-3052	150	3	no	no	INTJ
easat-3052	150	4	.	.	NOUN
easat-3052	151	1	6	6	NUM
easat-3052	151	2	:	:	SYM
easat-3052	151	3	4884	4884	NUM
easat-3052	151	4	-	-	SYM
easat-3052	151	5	4902	4902	NUM
easat-3052	151	6	,	,	PUNCT
easat-3052	151	7	2024	2024	NUM
easat-3052	151	8	doi	doi	NOUN
easat-3052	151	9	:	:	PUNCT
easat-3052	151	10	10.55214/25768484.v8i6.3052	10.55214/25768484.v8i6.3052	NUM
easat-3052	151	11	©	©	ADP
easat-3052	151	12	2024	2024	NUM
easat-3052	151	13	by	by	ADP
easat-3052	151	14	the	the	DET
easat-3052	151	15	author	author	NOUN
easat-3052	151	16	;	;	PUNCT
easat-3052	151	17	licensee	licensee	PROPN
easat-3052	151	18	learning	learn	VERB
easat-3052	151	19	gate	gate	NOUN
easat-3052	151	20	population	population	NOUN
easat-3052	151	21	of	of	ADP
easat-3052	151	22	firms	firm	NOUN
easat-3052	151	23	in	in	ADP
easat-3052	151	24	this	this	DET
easat-3052	151	25	district	district	NOUN
easat-3052	151	26	.	.	PUNCT
easat-3052	152	1	we	we	PRON
easat-3052	152	2	had	have	VERB
easat-3052	152	3	public	public	ADJ
easat-3052	152	4	access	access	NOUN
easat-3052	152	5	to	to	ADP
easat-3052	152	6	the	the	DET
easat-3052	152	7	necessary	necessary	ADJ
easat-3052	152	8	information	information	NOUN
easat-3052	152	9	during	during	ADP
easat-3052	152	10	the	the	DET
easat-3052	152	11	period	period	NOUN
easat-3052	152	12	2019	2019	NUM
easat-3052	152	13	-	-	SYM
easat-3052	152	14	2023	2023	NUM
easat-3052	152	15	from	from	ADP
easat-3052	152	16	the	the	DET
easat-3052	152	17	general	general	ADJ
easat-3052	152	18	directorate	directorate	NOUN
easat-3052	152	19	of	of	ADP
easat-3052	152	20	taxes	taxis	NOUN
easat-3052	152	21	(	(	PUNCT
easat-3052	152	22	dpt	dpt	PROPN
easat-3052	152	23	)	)	PUNCT
easat-3052	152	24	and	and	CCONJ
easat-3052	152	25	the	the	DET
easat-3052	152	26	national	national	PROPN
easat-3052	152	27	business	business	PROPN
easat-3052	152	28	center	center	PROPN
easat-3052	152	29	(	(	PUNCT
easat-3052	152	30	qkb	qkb	NOUN
easat-3052	152	31	)	)	PUNCT
easat-3052	152	32	.	.	PUNCT
easat-3052	153	1	all	all	DET
easat-3052	153	2	the	the	DET
easat-3052	153	3	data	datum	NOUN
easat-3052	153	4	are	be	AUX
easat-3052	153	5	collected	collect	VERB
easat-3052	153	6	from	from	ADP
easat-3052	153	7	the	the	DET
easat-3052	153	8	balance	balance	NOUN
easat-3052	153	9	sheet	sheet	NOUN
easat-3052	153	10	annual	annual	ADJ
easat-3052	153	11	reports	report	NOUN
easat-3052	153	12	,	,	PUNCT
easat-3052	153	13	the	the	DET
easat-3052	153	14	official	official	ADJ
easat-3052	153	15	document	document	NOUN
easat-3052	153	16	delivered	deliver	VERB
easat-3052	153	17	to	to	ADP
easat-3052	153	18	the	the	DET
easat-3052	153	19	national	national	PROPN
easat-3052	153	20	business	business	PROPN
easat-3052	153	21	center	center	PROPN
easat-3052	153	22	(	(	PUNCT
easat-3052	153	23	qkb	qkb	NOUN
easat-3052	153	24	)	)	PUNCT
easat-3052	153	25	and	and	CCONJ
easat-3052	153	26	with	with	ADP
easat-3052	153	27	public	public	ADJ
easat-3052	153	28	access	access	NOUN
easat-3052	153	29	.	.	PUNCT
easat-3052	154	1	the	the	DET
easat-3052	154	2	companies	company	NOUN
easat-3052	154	3	in	in	ADP
easat-3052	154	4	the	the	DET
easat-3052	154	5	sample	sample	NOUN
easat-3052	154	6	belong	belong	VERB
easat-3052	154	7	to	to	ADP
easat-3052	154	8	various	various	ADJ
easat-3052	154	9	sectors	sector	NOUN
easat-3052	154	10	of	of	ADP
easat-3052	154	11	activity	activity	NOUN
easat-3052	154	12	,	,	PUNCT
easat-3052	154	13	including	include	VERB
easat-3052	154	14	construction	construction	NOUN
easat-3052	154	15	,	,	PUNCT
easat-3052	154	16	manufacturing	manufacturing	NOUN
easat-3052	154	17	,	,	PUNCT
easat-3052	154	18	trade	trade	NOUN
easat-3052	154	19	,	,	PUNCT
easat-3052	154	20	and	and	CCONJ
easat-3052	154	21	services	service	NOUN
easat-3052	154	22	.	.	PUNCT
easat-3052	155	1	table	table	NOUN
easat-3052	155	2	1	1	NUM
easat-3052	155	3	shows	show	VERB
easat-3052	155	4	the	the	DET
easat-3052	155	5	number	number	NOUN
easat-3052	155	6	of	of	ADP
easat-3052	155	7	companies	company	NOUN
easat-3052	155	8	,	,	PUNCT
easat-3052	155	9	the	the	DET
easat-3052	155	10	number	number	NOUN
easat-3052	155	11	of	of	ADP
easat-3052	155	12	years	year	NOUN
easat-3052	155	13	,	,	PUNCT
easat-3052	155	14	and	and	CCONJ
easat-3052	155	15	the	the	DET
easat-3052	155	16	number	number	NOUN
easat-3052	155	17	of	of	ADP
easat-3052	155	18	observations	observation	NOUN
easat-3052	155	19	in	in	ADP
easat-3052	155	20	the	the	DET
easat-3052	155	21	sample	sample	NOUN
easat-3052	155	22	categorized	categorize	VERB
easat-3052	155	23	by	by	ADP
easat-3052	155	24	sectors	sector	NOUN
easat-3052	155	25	during	during	ADP
easat-3052	155	26	the	the	DET
easat-3052	155	27	period	period	NOUN
easat-3052	155	28	2019	2019	NUM
easat-3052	155	29	-	-	SYM
easat-3052	155	30	2023	2023	NUM
easat-3052	155	31	.	.	PUNCT
easat-3052	156	1	table	table	NOUN
easat-3052	156	2	1	1	NUM
easat-3052	156	3	.	.	PUNCT
easat-3052	156	4	shows	show	VERB
easat-3052	156	5	the	the	DET
easat-3052	156	6	number	number	NOUN
easat-3052	156	7	of	of	ADP
easat-3052	156	8	companies	company	NOUN
easat-3052	156	9	in	in	ADP
easat-3052	156	10	the	the	DET
easat-3052	156	11	moster	moster	PROPN
easat-3052	156	12	.	.	PUNCT
easat-3052	157	1	sector	sector	NOUN
easat-3052	157	2	number	number	NOUN
easat-3052	157	3	of	of	ADP
easat-3052	157	4	companies	company	NOUN
easat-3052	157	5	number	number	NOUN
easat-3052	157	6	of	of	ADP
easat-3052	157	7	years	year	NOUN
easat-3052	157	8	number	number	NOUN
easat-3052	157	9	of	of	ADP
easat-3052	157	10	observations	observation	NOUN
easat-3052	157	11	construction	construction	NOUN
easat-3052	157	12	16	16	NUM
easat-3052	157	13	5	5	NUM
easat-3052	157	14	80	80	NUM
easat-3052	157	15	manufacturing	manufacturing	NOUN
easat-3052	157	16	20	20	NUM
easat-3052	157	17	5	5	NUM
easat-3052	157	18	100	100	NUM
easat-3052	157	19	trade	trade	NOUN
easat-3052	157	20	28	28	NUM
easat-3052	157	21	5	5	NUM
easat-3052	157	22	140	140	NUM
easat-3052	157	23	services	service	NOUN
easat-3052	157	24	11	11	NUM
easat-3052	157	25	5	5	NUM
easat-3052	157	26	55	55	NUM
easat-3052	157	27	total	total	NOUN
easat-3052	157	28	75	75	NUM
easat-3052	157	29	5	5	NUM
easat-3052	157	30	375	375	NUM
easat-3052	157	31	in	in	ADP
easat-3052	157	32	table	table	NOUN
easat-3052	157	33	1	1	NUM
easat-3052	157	34	is	be	AUX
easat-3052	157	35	showed	show	VERB
easat-3052	157	36	the	the	DET
easat-3052	157	37	number	number	NOUN
easat-3052	157	38	and	and	CCONJ
easat-3052	157	39	the	the	DET
easat-3052	157	40	type	type	NOUN
easat-3052	157	41	of	of	ADP
easat-3052	157	42	companies	company	NOUN
easat-3052	157	43	selected	select	VERB
easat-3052	157	44	for	for	ADP
easat-3052	157	45	study	study	NOUN
easat-3052	157	46	during	during	ADP
easat-3052	157	47	the	the	DET
easat-3052	157	48	research	research	NOUN
easat-3052	157	49	period	period	NOUN
easat-3052	157	50	2019	2019	NUM
easat-3052	157	51	-	-	SYM
easat-3052	157	52	2023	2023	NUM
easat-3052	157	53	,	,	PUNCT
easat-3052	157	54	with	with	ADP
easat-3052	157	55	a	a	DET
easat-3052	157	56	total	total	ADJ
easat-3052	157	57	number	number	NOUN
easat-3052	157	58	of	of	ADP
easat-3052	157	59	observations	observation	NOUN
easat-3052	157	60	amounting	amount	VERB
easat-3052	157	61	to	to	ADP
easat-3052	157	62	375	375	NUM
easat-3052	157	63	.	.	PUNCT
easat-3052	158	1	the	the	DET
easat-3052	158	2	average	average	ADJ
easat-3052	158	3	total	total	ADJ
easat-3052	158	4	assets	asset	NOUN
easat-3052	158	5	of	of	ADP
easat-3052	158	6	these	these	DET
easat-3052	158	7	firms	firm	NOUN
easat-3052	158	8	is	be	AUX
easat-3052	158	9	approximately	approximately	ADV
easat-3052	158	10	3,901,238,860	3,901,238,860	NUM
easat-3052	158	11	all	all	PRON
easat-3052	158	12	(	(	PUNCT
easat-3052	158	13	albanian	albanian	ADJ
easat-3052	158	14	lek	lek	PROPN
easat-3052	158	15	)	)	PUNCT
easat-3052	158	16	or	or	CCONJ
easat-3052	158	17	about	about	ADV
easat-3052	158	18	37,154,656	37,154,656	NUM
easat-3052	158	19	euros	euro	NOUN
easat-3052	158	20	(	(	PUNCT
easat-3052	158	21	the	the	DET
easat-3052	158	22	current	current	ADJ
easat-3052	158	23	average	average	ADJ
easat-3052	158	24	exchange	exchange	NOUN
easat-3052	158	25	rate	rate	NOUN
easat-3052	158	26	for	for	ADP
easat-3052	158	27	the	the	DET
easat-3052	158	28	period	period	NOUN
easat-3052	158	29	is	be	AUX
easat-3052	158	30	105	105	NUM
easat-3052	158	31	all	all	PRON
easat-3052	158	32	/	/	SYM
easat-3052	158	33	euro	euro	NOUN
easat-3052	158	34	)	)	PUNCT
easat-3052	158	35	.	.	PUNCT
easat-3052	159	1	let	let	VERB
easat-3052	159	2	’s	’s	PRON
easat-3052	159	3	take	take	VERB
easat-3052	159	4	a	a	DET
easat-3052	159	5	closer	close	ADJ
easat-3052	159	6	look	look	NOUN
easat-3052	159	7	at	at	ADP
easat-3052	159	8	the	the	DET
easat-3052	159	9	groups	group	NOUN
easat-3052	159	10	of	of	ADP
easat-3052	159	11	companies	company	NOUN
easat-3052	159	12	in	in	ADP
easat-3052	159	13	our	our	PRON
easat-3052	159	14	sample	sample	NOUN
easat-3052	159	15	.	.	PUNCT
easat-3052	160	1	out	out	ADP
easat-3052	160	2	of	of	ADP
easat-3052	160	3	the	the	DET
easat-3052	160	4	total	total	ADJ
easat-3052	160	5	companies	company	NOUN
easat-3052	160	6	observed	observe	VERB
easat-3052	160	7	,	,	PUNCT
easat-3052	160	8	28	28	NUM
easat-3052	160	9	belong	belong	VERB
easat-3052	160	10	to	to	ADP
easat-3052	160	11	the	the	DET
easat-3052	160	12	trade	trade	NOUN
easat-3052	160	13	sector	sector	NOUN
easat-3052	160	14	,	,	PUNCT
easat-3052	160	15	which	which	PRON
easat-3052	160	16	is	be	AUX
easat-3052	160	17	significantly	significantly	ADV
easat-3052	160	18	large	large	ADJ
easat-3052	160	19	and	and	CCONJ
easat-3052	160	20	very	very	ADV
easat-3052	160	21	important	important	ADJ
easat-3052	160	22	for	for	ADP
easat-3052	160	23	the	the	DET
easat-3052	160	24	economy	economy	NOUN
easat-3052	160	25	of	of	ADP
easat-3052	160	26	albania	albania	PROPN
easat-3052	160	27	,	,	PUNCT
easat-3052	160	28	especially	especially	ADV
easat-3052	160	29	in	in	ADP
easat-3052	160	30	the	the	DET
easat-3052	160	31	tirana	tirana	ADJ
easat-3052	160	32	region	region	NOUN
easat-3052	160	33	.	.	PUNCT
easat-3052	161	1	the	the	DET
easat-3052	161	2	group	group	NOUN
easat-3052	161	3	of	of	ADP
easat-3052	161	4	activities	activity	NOUN
easat-3052	161	5	—	—	PUNCT
easat-3052	161	6	trade	trade	NOUN
easat-3052	161	7	,	,	PUNCT
easat-3052	161	8	hotels	hotel	NOUN
easat-3052	161	9	,	,	PUNCT
easat-3052	161	10	and	and	CCONJ
easat-3052	161	11	restaurants	restaurant	NOUN
easat-3052	161	12	—	—	PUNCT
easat-3052	161	13	contributes	contribute	VERB
easat-3052	161	14	approximately	approximately	ADV
easat-3052	161	15	21.2	21.2	NUM
easat-3052	161	16	%	%	NOUN
easat-3052	161	17	to	to	ADP
easat-3052	161	18	albania	albania	PROPN
easat-3052	161	19	's	's	PART
easat-3052	161	20	gdp	gdp	NOUN
easat-3052	161	21	(	(	PUNCT
easat-3052	161	22	instat	instat	PROPN
easat-3052	161	23	,	,	PUNCT
easat-3052	161	24	2022	2022	NUM
easat-3052	161	25	)	)	PUNCT
easat-3052	161	26	.	.	PUNCT
easat-3052	162	1	the	the	DET
easat-3052	162	2	data	datum	NOUN
easat-3052	162	3	were	be	AUX
easat-3052	162	4	collected	collect	VERB
easat-3052	162	5	from	from	ADP
easat-3052	162	6	annual	annual	ADJ
easat-3052	162	7	reports	report	NOUN
easat-3052	162	8	of	of	ADP
easat-3052	162	9	financial	financial	ADJ
easat-3052	162	10	statements	statement	NOUN
easat-3052	162	11	,	,	PUNCT
easat-3052	162	12	independent	independent	ADJ
easat-3052	162	13	auditor	auditor	NOUN
easat-3052	162	14	reports	report	NOUN
easat-3052	162	15	,	,	PUNCT
easat-3052	162	16	performance	performance	NOUN
easat-3052	162	17	reports	report	NOUN
easat-3052	162	18	,	,	PUNCT
easat-3052	162	19	and	and	CCONJ
easat-3052	162	20	official	official	ADJ
easat-3052	162	21	documents	document	NOUN
easat-3052	162	22	submitted	submit	VERB
easat-3052	162	23	to	to	ADP
easat-3052	162	24	the	the	DET
easat-3052	162	25	regional	regional	ADJ
easat-3052	162	26	tax	tax	NOUN
easat-3052	162	27	office	office	NOUN
easat-3052	162	28	of	of	ADP
easat-3052	162	29	tirana	tirana	PROPN
easat-3052	162	30	and	and	CCONJ
easat-3052	162	31	the	the	DET
easat-3052	162	32	national	national	PROPN
easat-3052	162	33	business	business	PROPN
easat-3052	162	34	center	center	PROPN
easat-3052	162	35	(	(	PUNCT
easat-3052	162	36	qkb	qkb	NOUN
easat-3052	162	37	)	)	PUNCT
easat-3052	162	38	.	.	PUNCT
easat-3052	163	1	other	other	ADJ
easat-3052	163	2	indicators	indicator	NOUN
easat-3052	163	3	were	be	AUX
easat-3052	163	4	sourced	source	VERB
easat-3052	163	5	from	from	ADP
easat-3052	163	6	statistical	statistical	ADJ
easat-3052	163	7	reports	report	NOUN
easat-3052	163	8	by	by	ADP
easat-3052	163	9	instat	instat	NOUN
easat-3052	163	10	and	and	CCONJ
easat-3052	163	11	the	the	DET
easat-3052	163	12	bank	bank	NOUN
easat-3052	163	13	of	of	ADP
easat-3052	163	14	albania	albania	PROPN
easat-3052	163	15	for	for	ADP
easat-3052	163	16	the	the	DET
easat-3052	163	17	years	year	NOUN
easat-3052	163	18	2021	2021	NUM
easat-3052	163	19	-	-	SYM
easat-3052	163	20	2022	2022	NUM
easat-3052	163	21	.	.	PUNCT
easat-3052	164	1	3.2	3.2	NUM
easat-3052	164	2	.	.	PUNCT
easat-3052	165	1	variables	variable	NOUN
easat-3052	165	2	definitions	definition	NOUN
easat-3052	165	3	according	accord	VERB
easat-3052	165	4	to	to	ADP
easat-3052	165	5	the	the	DET
easat-3052	165	6	definition	definition	NOUN
easat-3052	165	7	of	of	ADP
easat-3052	165	8	dependent	dependent	ADJ
easat-3052	165	9	and	and	CCONJ
easat-3052	165	10	independent	independent	ADJ
easat-3052	165	11	variables	variable	NOUN
easat-3052	165	12	and	and	CCONJ
easat-3052	165	13	their	their	PRON
easat-3052	165	14	measurements	measurement	NOUN
easat-3052	165	15	,	,	PUNCT
easat-3052	165	16	please	please	INTJ
easat-3052	165	17	refer	refer	VERB
easat-3052	165	18	to	to	ADP
easat-3052	165	19	table	table	NOUN
easat-3052	165	20	2	2	NUM
easat-3052	165	21	and	and	CCONJ
easat-3052	165	22	table	table	NOUN
easat-3052	165	23	3	3	NUM
easat-3052	165	24	in	in	ADP
easat-3052	165	25	the	the	DET
easat-3052	165	26	appendix	appendix	NOUN
easat-3052	165	27	.	.	PUNCT
easat-3052	166	1	table	table	NOUN
easat-3052	166	2	2	2	NUM
easat-3052	166	3	.	.	PUNCT
easat-3052	166	4	shows	show	VERB
easat-3052	166	5	the	the	DET
easat-3052	166	6	dependent	dependent	ADJ
easat-3052	166	7	variable	variable	NOUN
easat-3052	166	8	.	.	PUNCT
easat-3052	167	1	code	code	NOUN
easat-3052	167	2	dependent	dependent	ADJ
easat-3052	167	3	variable	variable	ADJ
easat-3052	167	4	measure	measure	NOUN
easat-3052	167	5	theoretical	theoretical	ADJ
easat-3052	167	6	references	reference	NOUN
easat-3052	167	7	bt	bt	ADJ
easat-3052	167	8	=	=	NOUN
easat-3052	167	9	td	td	ADJ
easat-3052	167	10	total	total	ADJ
easat-3052	167	11	debt	debt	NOUN
easat-3052	167	12	total	total	NOUN
easat-3052	167	13	debt	debt	NOUN
easat-3052	167	14	/	/	SYM
easat-3052	167	15	total	total	ADJ
easat-3052	167	16	assets	asset	NOUN
easat-3052	167	17	ross	ross	PROPN
easat-3052	167	18	et	et	PROPN
easat-3052	167	19	.	.	PUNCT
easat-3052	168	1	al	al	PROPN
easat-3052	168	2	.	.	PROPN
easat-3052	169	1	(	(	PUNCT
easat-3052	169	2	2002	2002	NUM
easat-3052	169	3	)	)	PUNCT
easat-3052	169	4	,	,	PUNCT
easat-3052	169	5	rajan	rajan	PROPN
easat-3052	169	6	dhe	dhe	PROPN
easat-3052	169	7	zingales	zingales	PROPN
easat-3052	169	8	(	(	PUNCT
easat-3052	169	9	1995	1995	NUM
easat-3052	169	10	)	)	PUNCT
easat-3052	169	11	,	,	PUNCT
easat-3052	169	12	frank	frank	PROPN
easat-3052	169	13	dhe	dhe	PROPN
easat-3052	169	14	goyal	goyal	PROPN
easat-3052	169	15	(	(	PUNCT
easat-3052	169	16	2009	2009	NUM
easat-3052	169	17	)	)	PUNCT
easat-3052	169	18	,	,	PUNCT
easat-3052	169	19	(	(	PUNCT
easat-3052	169	20	pandey	pandey	PROPN
easat-3052	169	21	,	,	PUNCT
easat-3052	169	22	2002	2002	NUM
easat-3052	169	23	)	)	PUNCT
easat-3052	169	24	bagj	bagj	PROPN
easat-3052	169	25	=	=	PROPN
easat-3052	169	26	ltd	ltd	ADJ
easat-3052	169	27	long	long	ADJ
easat-3052	169	28	-	-	PUNCT
easat-3052	169	29	term	term	NOUN
easat-3052	169	30	debt	debt	NOUN
easat-3052	169	31	long	long	ADJ
easat-3052	169	32	-	-	PUNCT
easat-3052	169	33	term	term	NOUN
easat-3052	169	34	debt	debt	NOUN
easat-3052	169	35	/	/	SYM
easat-3052	169	36	total	total	ADJ
easat-3052	169	37	assets	asset	NOUN
easat-3052	169	38	ross	ross	PROPN
easat-3052	169	39	et	et	PROPN
easat-3052	169	40	.	.	PUNCT
easat-3052	170	1	al	al	PROPN
easat-3052	170	2	.	.	PROPN
easat-3052	171	1	(	(	PUNCT
easat-3052	171	2	2002	2002	NUM
easat-3052	171	3	)	)	PUNCT
easat-3052	171	4	,	,	PUNCT
easat-3052	171	5	rajan	rajan	PROPN
easat-3052	171	6	dhe	dhe	PROPN
easat-3052	171	7	zingales	zingales	PROPN
easat-3052	171	8	(	(	PUNCT
easat-3052	171	9	1995	1995	NUM
easat-3052	171	10	)	)	PUNCT
easat-3052	171	11	,	,	PUNCT
easat-3052	171	12	frank	frank	PROPN
easat-3052	171	13	dhe	dhe	PROPN
easat-3052	171	14	goyal	goyal	PROPN
easat-3052	171	15	(	(	PUNCT
easat-3052	171	16	2009	2009	NUM
easat-3052	171	17	)	)	PUNCT
easat-3052	171	18	,	,	PUNCT
easat-3052	171	19	(	(	PUNCT
easat-3052	171	20	pandey	pandey	PROPN
easat-3052	171	21	,	,	PUNCT
easat-3052	171	22	2002	2002	NUM
easat-3052	171	23	)	)	PUNCT
easat-3052	171	24	bash	bash	NOUN
easat-3052	171	25	=	=	NOUN
easat-3052	171	26	std	std	NOUN
easat-3052	171	27	short	short	ADJ
easat-3052	171	28	-	-	PUNCT
easat-3052	171	29	term	term	NOUN
easat-3052	171	30	debt	debt	NOUN
easat-3052	171	31	short	short	ADJ
easat-3052	171	32	-	-	PUNCT
easat-3052	171	33	term	term	NOUN
easat-3052	171	34	debt	debt	NOUN
easat-3052	171	35	/	/	SYM
easat-3052	171	36	total	total	ADJ
easat-3052	171	37	assets	asset	NOUN
easat-3052	171	38	ross	ross	PROPN
easat-3052	171	39	et	et	PROPN
easat-3052	171	40	.	.	PUNCT
easat-3052	172	1	al	al	PROPN
easat-3052	172	2	.	.	PROPN
easat-3052	173	1	(	(	PUNCT
easat-3052	173	2	2002	2002	NUM
easat-3052	173	3	)	)	PUNCT
easat-3052	173	4	,	,	PUNCT
easat-3052	173	5	rajan	rajan	PROPN
easat-3052	173	6	dhe	dhe	PROPN
easat-3052	173	7	zingales	zingales	PROPN
easat-3052	173	8	(	(	PUNCT
easat-3052	173	9	1995	1995	NUM
easat-3052	173	10	)	)	PUNCT
easat-3052	173	11	,	,	PUNCT
easat-3052	173	12	frank	frank	PROPN
easat-3052	173	13	dhe	dhe	PROPN
easat-3052	173	14	goyal	goyal	PROPN
easat-3052	173	15	(	(	PUNCT
easat-3052	173	16	2009	2009	NUM
easat-3052	173	17	)	)	PUNCT
easat-3052	173	18	,	,	PUNCT
easat-3052	173	19	(	(	PUNCT
easat-3052	173	20	pandey	pandey	PROPN
easat-3052	173	21	,	,	PUNCT
easat-3052	173	22	2002	2002	NUM
easat-3052	173	23	)	)	PUNCT
easat-3052	173	24	4890	4890	NUM
easat-3052	173	25	edelweiss	edelweiss	PROPN
easat-3052	173	26	applied	apply	VERB
easat-3052	173	27	science	science	NOUN
easat-3052	173	28	and	and	CCONJ
easat-3052	173	29	technology	technology	NOUN
easat-3052	173	30	issn	issn	PROPN
easat-3052	173	31	:	:	PUNCT
easat-3052	173	32	2576	2576	NUM
easat-3052	173	33	-	-	SYM
easat-3052	173	34	8484	8484	NUM
easat-3052	173	35	vol	vol	NOUN
easat-3052	173	36	.	.	PROPN
easat-3052	174	1	8	8	NUM
easat-3052	174	2	,	,	PUNCT
easat-3052	174	3	no	no	INTJ
easat-3052	174	4	.	.	NOUN
easat-3052	175	1	6	6	NUM
easat-3052	175	2	:	:	SYM
easat-3052	175	3	4884	4884	NUM
easat-3052	175	4	-	-	SYM
easat-3052	175	5	4902	4902	NUM
easat-3052	175	6	,	,	PUNCT
easat-3052	175	7	2024	2024	NUM
easat-3052	175	8	doi	doi	NOUN
easat-3052	175	9	:	:	PUNCT
easat-3052	175	10	10.55214/25768484.v8i6.3052	10.55214/25768484.v8i6.3052	NUM
easat-3052	175	11	©	©	ADP
easat-3052	175	12	2024	2024	NUM
easat-3052	175	13	by	by	ADP
easat-3052	175	14	the	the	DET
easat-3052	175	15	author	author	NOUN
easat-3052	175	16	;	;	PUNCT
easat-3052	175	17	licensee	licensee	PROPN
easat-3052	175	18	learning	learn	VERB
easat-3052	175	19	gate	gate	NOUN
easat-3052	175	20	table	table	NOUN
easat-3052	175	21	3	3	NUM
easat-3052	175	22	.	.	PUNCT
easat-3052	175	23	shows	show	VERB
easat-3052	175	24	the	the	DET
easat-3052	175	25	independent	independent	ADJ
easat-3052	175	26	variable	variable	NOUN
easat-3052	175	27	.	.	PUNCT
easat-3052	176	1	code	code	NOUN
easat-3052	176	2	independent	independent	ADJ
easat-3052	176	3	variable	variable	ADJ
easat-3052	176	4	measure	measure	NOUN
easat-3052	176	5	expected	expect	VERB
easat-3052	176	6	relationship	relationship	NOUN
easat-3052	176	7	for	for	ADP
easat-3052	176	8	bt	bt	PROPN
easat-3052	176	9	expected	expect	VERB
easat-3052	176	10	relationship	relationship	NOUN
easat-3052	176	11	for	for	ADP
easat-3052	176	12	bagj	bagj	NOUN
easat-3052	176	13	expected	expect	VERB
easat-3052	176	14	relationship	relationship	NOUN
easat-3052	176	15	for	for	ADP
easat-3052	176	16	bash	bash	NOUN
easat-3052	176	17	roa	roa	NOUN
easat-3052	176	18	performance	performance	NOUN
easat-3052	176	19	,	,	PUNCT
easat-3052	176	20	return	return	VERB
easat-3052	176	21	on	on	ADP
easat-3052	176	22	assets	asset	NOUN
easat-3052	176	23	ebit	ebit	NOUN
easat-3052	176	24	/	/	SYM
easat-3052	176	25	total	total	ADJ
easat-3052	176	26	assets	asset	NOUN
easat-3052	176	27	negative	negative	ADJ
easat-3052	176	28	negative	negative	ADJ
easat-3052	176	29	negative	negative	ADJ
easat-3052	176	30	roe	roe	NOUN
easat-3052	176	31	performance	performance	NOUN
easat-3052	176	32	,	,	PUNCT
easat-3052	176	33	return	return	VERB
easat-3052	176	34	on	on	ADP
easat-3052	176	35	equity	equity	NOUN
easat-3052	176	36	ebit	ebit	PROPN
easat-3052	176	37	/	/	SYM
easat-3052	176	38	total	total	PROPN
easat-3052	176	39	equity	equity	NOUN
easat-3052	176	40	negative	negative	ADJ
easat-3052	176	41	negative	negative	ADJ
easat-3052	176	42	negative	negative	ADJ
easat-3052	176	43	ta	ta	ADP
easat-3052	176	44	asset	asset	NOUN
easat-3052	176	45	structure	structure	NOUN
easat-3052	176	46	fixed	fix	VERB
easat-3052	176	47	assets	asset	NOUN
easat-3052	176	48	/	/	SYM
easat-3052	176	49	total	total	ADJ
easat-3052	176	50	assets	asset	NOUN
easat-3052	176	51	positive	positive	ADJ
easat-3052	176	52	positive	positive	ADJ
easat-3052	176	53	positive	positive	ADJ
easat-3052	176	54	lf	lf	NOUN
easat-3052	176	55	firm	firm	NOUN
easat-3052	176	56	liquidity	liquidity	NOUN
easat-3052	176	57	current	current	ADJ
easat-3052	176	58	assets	asset	NOUN
easat-3052	176	59	/	/	SYM
easat-3052	176	60	current	current	ADJ
easat-3052	176	61	liabilities	liability	NOUN
easat-3052	176	62	negative	negative	ADJ
easat-3052	176	63	negative	negative	ADJ
easat-3052	176	64	negative	negative	ADJ
easat-3052	176	65	mf	mf	NOUN
easat-3052	176	66	firm	firm	ADJ
easat-3052	176	67	size	size	NOUN
easat-3052	176	68	natural	natural	ADJ
easat-3052	176	69	log	log	NOUN
easat-3052	176	70	of	of	ADP
easat-3052	176	71	assets	asset	NOUN
easat-3052	176	72	positive	positive	ADJ
easat-3052	176	73	positive	positive	ADJ
easat-3052	176	74	negative	negative	ADJ
easat-3052	176	75	ff	ff	NOUN
easat-3052	176	76	financial	financial	ADJ
easat-3052	176	77	flexibility	flexibility	NOUN
easat-3052	176	78	monetary	monetary	ADJ
easat-3052	176	79	assets	asset	NOUN
easat-3052	176	80	/	/	SYM
easat-3052	176	81	current	current	ADJ
easat-3052	176	82	assets	asset	NOUN
easat-3052	176	83	negative	negative	ADJ
easat-3052	176	84	negative	negative	ADJ
easat-3052	176	85	negative	negative	ADJ
easat-3052	176	86	ptjb	ptjb	ADJ
easat-3052	176	87	tax	tax	NOUN
easat-3052	176	88	benefit	benefit	NOUN
easat-3052	176	89	from	from	ADP
easat-3052	176	90	non	non	ADJ
easat-3052	176	91	-	-	ADJ
easat-3052	176	92	debt	debt	ADJ
easat-3052	176	93	expenses	expense	NOUN
easat-3052	176	94	depreciation	depreciation	NOUN
easat-3052	176	95	expenses	expense	NOUN
easat-3052	176	96	/	/	SYM
easat-3052	176	97	total	total	ADJ
easat-3052	176	98	assets	asset	NOUN
easat-3052	176	99	negative	negative	ADJ
easat-3052	176	100	negative	negative	ADJ
easat-3052	176	101	negative	negative	ADJ
easat-3052	176	102	mrr	mrr	NOUN
easat-3052	176	103	growth	growth	NOUN
easat-3052	176	104	opportunities	opportunity	NOUN
easat-3052	176	105	change	change	VERB
easat-3052	176	106	in	in	ADP
easat-3052	176	107	total	total	ADJ
easat-3052	176	108	assets	asset	NOUN
easat-3052	176	109	/	/	SYM
easat-3052	176	110	total	total	ADJ
easat-3052	176	111	assets	asset	NOUN
easat-3052	176	112	positive	positive	ADJ
easat-3052	176	113	positive	positive	ADJ
easat-3052	176	114	positive	positive	ADJ
easat-3052	176	115	mof	mof	ADJ
easat-3052	176	116	age	age	NOUN
easat-3052	176	117	of	of	ADP
easat-3052	176	118	the	the	DET
easat-3052	176	119	firm	firm	ADJ
easat-3052	176	120	natural	natural	ADJ
easat-3052	176	121	log	log	NOUN
easat-3052	176	122	of	of	ADP
easat-3052	176	123	firm	firm	ADJ
easat-3052	176	124	age	age	NOUN
easat-3052	176	125	positive	positive	ADJ
easat-3052	176	126	positive	positive	ADJ
easat-3052	176	127	negative	negative	ADJ
easat-3052	176	128	bt(-1	bt(-1	NOUN
easat-3052	176	129	)	)	PUNCT
easat-3052	176	130	,	,	PUNCT
easat-3052	176	131	bagj	bagj	X
easat-3052	176	132	(	(	PUNCT
easat-3052	176	133	-1	-1	ADJ
easat-3052	176	134	)	)	PUNCT
easat-3052	176	135	,	,	PUNCT
easat-3052	176	136	bash	bash	NOUN
easat-3052	176	137	(	(	PUNCT
easat-3052	176	138	-1	-1	CCONJ
easat-3052	176	139	)	)	PUNCT
easat-3052	176	140	lagged	lag	VERB
easat-3052	176	141	debt	debt	NOUN
easat-3052	176	142	ratio	ratio	NOUN
easat-3052	176	143	debt	debt	NOUN
easat-3052	176	144	ratio	ratio	NOUN
easat-3052	176	145	with	with	ADP
easat-3052	176	146	one	one	NUM
easat-3052	176	147	lagged	lag	VERB
easat-3052	176	148	period	period	NOUN
easat-3052	176	149	positive	positive	ADJ
easat-3052	176	150	positive	positive	ADJ
easat-3052	176	151	positive	positive	ADJ
easat-3052	176	152	3.3	3.3	NUM
easat-3052	176	153	.	.	PUNCT
easat-3052	177	1	model	model	NOUN
easat-3052	177	2	specification	specification	NOUN
easat-3052	177	3	this	this	DET
easat-3052	177	4	study	study	NOUN
easat-3052	177	5	employs	employ	VERB
easat-3052	177	6	a	a	DET
easat-3052	177	7	panel	panel	NOUN
easat-3052	177	8	data	datum	NOUN
easat-3052	177	9	regression	regression	NOUN
easat-3052	177	10	model	model	NOUN
easat-3052	177	11	(	(	PUNCT
easat-3052	177	12	cross	cross	ADJ
easat-3052	177	13	-	-	ADJ
easat-3052	177	14	sectional	sectional	ADJ
easat-3052	177	15	and	and	CCONJ
easat-3052	177	16	time	time	NOUN
easat-3052	177	17	series	series	PROPN
easat-3052	177	18	data	data	PROPN
easat-3052	177	19	)	)	PUNCT
easat-3052	177	20	,	,	PUNCT
easat-3052	177	21	comparable	comparable	ADJ
easat-3052	177	22	to	to	ADP
easat-3052	177	23	those	those	PRON
easat-3052	177	24	used	use	VERB
easat-3052	177	25	in	in	ADP
easat-3052	177	26	studies	study	NOUN
easat-3052	177	27	on	on	ADP
easat-3052	177	28	factors	factor	NOUN
easat-3052	177	29	affecting	affect	VERB
easat-3052	177	30	capital	capital	NOUN
easat-3052	177	31	structure	structure	NOUN
easat-3052	177	32	by	by	ADP
easat-3052	177	33	antoniou	antoniou	PROPN
easat-3052	177	34	et	et	PROPN
easat-3052	177	35	al	al	PROPN
easat-3052	177	36	.	.	PROPN
easat-3052	178	1	(	(	PUNCT
easat-3052	178	2	2002	2002	NUM
easat-3052	178	3	)	)	PUNCT
easat-3052	178	4	,	,	PUNCT
easat-3052	178	5	dincergok	dincergok	PROPN
easat-3052	178	6	and	and	CCONJ
easat-3052	178	7	yalciner	yalciner	NOUN
easat-3052	178	8	(	(	PUNCT
easat-3052	178	9	2011	2011	NUM
easat-3052	178	10	)	)	PUNCT
easat-3052	178	11	,	,	PUNCT
easat-3052	178	12	ohman	ohman	NOUN
easat-3052	178	13	(	(	PUNCT
easat-3052	178	14	2016	2016	NUM
easat-3052	178	15	)	)	PUNCT
easat-3052	178	16	,	,	PUNCT
easat-3052	178	17	rao	rao	PROPN
easat-3052	178	18	et	et	PROPN
easat-3052	178	19	al	al	PROPN
easat-3052	178	20	.	.	PROPN
easat-3052	179	1	(	(	PUNCT
easat-3052	179	2	2018	2018	NUM
easat-3052	179	3	)	)	PUNCT
easat-3052	179	4	,	,	PUNCT
easat-3052	179	5	proenca	proenca	PROPN
easat-3052	179	6	et	et	PROPN
easat-3052	179	7	al	al	PROPN
easat-3052	179	8	.	.	PROPN
easat-3052	180	1	(	(	PUNCT
easat-3052	180	2	2014	2014	NUM
easat-3052	180	3	)	)	PUNCT
easat-3052	180	4	,	,	PUNCT
easat-3052	180	5	zeitun	zeitun	NOUN
easat-3052	180	6	and	and	CCONJ
easat-3052	180	7	tian	tian	ADJ
easat-3052	180	8	(	(	PUNCT
easat-3052	180	9	2007	2007	NUM
easat-3052	180	10	)	)	PUNCT
easat-3052	180	11	,	,	PUNCT
easat-3052	180	12	acar	acar	NOUN
easat-3052	180	13	(	(	PUNCT
easat-3052	180	14	2018	2018	NUM
easat-3052	180	15	)	)	PUNCT
easat-3052	180	16	,	,	PUNCT
easat-3052	180	17	among	among	ADP
easat-3052	180	18	others[21,22	others[21,22	NOUN
easat-3052	180	19	]	]	PUNCT
easat-3052	180	20	.	.	PUNCT
easat-3052	181	1	the	the	DET
easat-3052	181	2	collection	collection	NOUN
easat-3052	181	3	of	of	ADP
easat-3052	181	4	cross	cross	ADJ
easat-3052	181	5	-	-	ADJ
easat-3052	181	6	sectional	sectional	ADJ
easat-3052	181	7	unit	unit	NOUN
easat-3052	181	8	observations	observation	NOUN
easat-3052	181	9	over	over	ADP
easat-3052	181	10	specific	specific	ADJ
easat-3052	181	11	time	time	NOUN
easat-3052	181	12	periods	period	NOUN
easat-3052	181	13	is	be	AUX
easat-3052	181	14	known	know	VERB
easat-3052	181	15	as	as	ADP
easat-3052	181	16	panel	panel	NOUN
easat-3052	181	17	data	datum	NOUN
easat-3052	181	18	(	(	PUNCT
easat-3052	181	19	gujarati	gujarati	PROPN
easat-3052	181	20	,	,	PUNCT
easat-3052	181	21	2004	2004	NUM
easat-3052	181	22	)	)	PUNCT
easat-3052	182	1	[	[	X
easat-3052	182	2	21	21	NUM
easat-3052	182	3	]	]	PUNCT
easat-3052	182	4	.	.	PUNCT
easat-3052	183	1	antoniou	antoniou	PROPN
easat-3052	183	2	et	et	PROPN
easat-3052	183	3	al	al	PROPN
easat-3052	183	4	.	.	PROPN
easat-3052	184	1	(	(	PUNCT
easat-3052	184	2	2002	2002	NUM
easat-3052	184	3	)	)	PUNCT
easat-3052	184	4	state	state	NOUN
easat-3052	184	5	that	that	SCONJ
easat-3052	184	6	the	the	DET
easat-3052	184	7	use	use	NOUN
easat-3052	184	8	of	of	ADP
easat-3052	184	9	panel	panel	NOUN
easat-3052	184	10	data	datum	NOUN
easat-3052	184	11	has	have	VERB
easat-3052	184	12	several	several	ADJ
easat-3052	184	13	advantages	advantage	NOUN
easat-3052	184	14	compared	compare	VERB
easat-3052	184	15	to	to	ADP
easat-3052	184	16	cross	cross	ADJ
easat-3052	184	17	-	-	ADJ
easat-3052	184	18	sectional	sectional	ADJ
easat-3052	184	19	data	datum	NOUN
easat-3052	184	20	,	,	PUNCT
easat-3052	184	21	including	include	VERB
easat-3052	184	22	greater	great	ADJ
easat-3052	184	23	degrees	degree	NOUN
easat-3052	184	24	of	of	ADP
easat-3052	184	25	freedom	freedom	NOUN
easat-3052	184	26	,	,	PUNCT
easat-3052	184	27	more	more	ADJ
easat-3052	184	28	observations	observation	NOUN
easat-3052	184	29	,	,	PUNCT
easat-3052	184	30	reduced	reduce	VERB
easat-3052	184	31	multicollinearity	multicollinearity	NOUN
easat-3052	184	32	among	among	ADP
easat-3052	184	33	explanatory	explanatory	ADJ
easat-3052	184	34	factors	factor	NOUN
easat-3052	184	35	,	,	PUNCT
easat-3052	184	36	and	and	CCONJ
easat-3052	184	37	the	the	DET
easat-3052	184	38	production	production	NOUN
easat-3052	184	39	of	of	ADP
easat-3052	184	40	more	more	ADV
easat-3052	184	41	accurate	accurate	ADJ
easat-3052	184	42	estimates	estimate	NOUN
easat-3052	184	43	.	.	PUNCT
easat-3052	185	1	multiple	multiple	ADJ
easat-3052	185	2	regression	regression	NOUN
easat-3052	185	3	equations	equation	NOUN
easat-3052	185	4	have	have	AUX
easat-3052	185	5	been	be	AUX
easat-3052	185	6	used	use	VERB
easat-3052	185	7	to	to	PART
easat-3052	185	8	test	test	VERB
easat-3052	185	9	the	the	DET
easat-3052	185	10	hypotheses	hypothesis	NOUN
easat-3052	185	11	developed	develop	VERB
easat-3052	185	12	above	above	ADV
easat-3052	185	13	and	and	CCONJ
easat-3052	185	14	to	to	PART
easat-3052	185	15	determine	determine	VERB
easat-3052	185	16	the	the	DET
easat-3052	185	17	relationship	relationship	NOUN
easat-3052	185	18	between	between	ADP
easat-3052	185	19	the	the	DET
easat-3052	185	20	independent	independent	ADJ
easat-3052	185	21	variables	variable	NOUN
easat-3052	185	22	(	(	PUNCT
easat-3052	185	23	performance	performance	NOUN
easat-3052	185	24	,	,	PUNCT
easat-3052	185	25	asset	asset	NOUN
easat-3052	185	26	structure	structure	NOUN
easat-3052	185	27	,	,	PUNCT
easat-3052	185	28	firm	firm	ADJ
easat-3052	185	29	liquidity	liquidity	NOUN
easat-3052	185	30	,	,	PUNCT
easat-3052	185	31	firm	firm	ADJ
easat-3052	185	32	size	size	NOUN
easat-3052	185	33	,	,	PUNCT
easat-3052	185	34	business	business	NOUN
easat-3052	185	35	risk	risk	NOUN
easat-3052	185	36	,	,	PUNCT
easat-3052	185	37	financial	financial	ADJ
easat-3052	185	38	flexibility	flexibility	NOUN
easat-3052	185	39	,	,	PUNCT
easat-3052	185	40	and	and	CCONJ
easat-3052	185	41	tax	tax	NOUN
easat-3052	185	42	benefits	benefit	NOUN
easat-3052	185	43	from	from	ADP
easat-3052	185	44	non	non	ADJ
easat-3052	185	45	-	-	ADJ
easat-3052	185	46	debt	debt	ADJ
easat-3052	185	47	expenses	expense	NOUN
easat-3052	185	48	,	,	PUNCT
easat-3052	185	49	growth	growth	NOUN
easat-3052	185	50	opportunities	opportunity	NOUN
easat-3052	185	51	)	)	PUNCT
easat-3052	185	52	and	and	CCONJ
easat-3052	185	53	capital	capital	NOUN
easat-3052	185	54	structure	structure	NOUN
easat-3052	185	55	(	(	PUNCT
easat-3052	185	56	total	total	ADJ
easat-3052	185	57	debt	debt	NOUN
easat-3052	185	58	ratio	ratio	NOUN
easat-3052	185	59	,	,	PUNCT
easat-3052	185	60	long	long	ADJ
easat-3052	185	61	-	-	PUNCT
easat-3052	185	62	term	term	NOUN
easat-3052	185	63	debt	debt	NOUN
easat-3052	185	64	ratio	ratio	NOUN
easat-3052	185	65	,	,	PUNCT
easat-3052	185	66	and	and	CCONJ
easat-3052	185	67	shortterm	shortterm	VERB
easat-3052	185	68	debt	debt	NOUN
easat-3052	185	69	ratio	ratio	NOUN
easat-3052	185	70	)	)	PUNCT
easat-3052	185	71	.	.	PUNCT
easat-3052	186	1	this	this	DET
easat-3052	186	2	approach	approach	NOUN
easat-3052	186	3	aligns	align	VERB
easat-3052	186	4	with	with	ADP
easat-3052	186	5	the	the	DET
easat-3052	186	6	studies	study	NOUN
easat-3052	186	7	of	of	ADP
easat-3052	186	8	antoniou	antoniou	PROPN
easat-3052	186	9	et	et	PROPN
easat-3052	186	10	al	al	PROPN
easat-3052	186	11	.	.	PUNCT
easat-3052	187	1	(	(	PUNCT
easat-3052	187	2	2002	2002	NUM
easat-3052	187	3	)	)	PUNCT
easat-3052	187	4	,	,	PUNCT
easat-3052	187	5	dincergok	dincergok	PROPN
easat-3052	187	6	and	and	CCONJ
easat-3052	187	7	yalciner	yalciner	NOUN
easat-3052	187	8	(	(	PUNCT
easat-3052	187	9	2011	2011	NUM
easat-3052	187	10	)	)	PUNCT
easat-3052	187	11	,	,	PUNCT
easat-3052	187	12	ohman	ohman	NOUN
easat-3052	187	13	(	(	PUNCT
easat-3052	187	14	2016	2016	NUM
easat-3052	187	15	)	)	PUNCT
easat-3052	187	16	,	,	PUNCT
easat-3052	187	17	rao	rao	PROPN
easat-3052	187	18	et	et	PROPN
easat-3052	187	19	al	al	PROPN
easat-3052	187	20	.	.	PROPN
easat-3052	188	1	(	(	PUNCT
easat-3052	188	2	2018	2018	NUM
easat-3052	188	3	)	)	PUNCT
easat-3052	188	4	,	,	PUNCT
easat-3052	188	5	proenca	proenca	PROPN
easat-3052	188	6	et	et	PROPN
easat-3052	188	7	al	al	PROPN
easat-3052	188	8	.	.	PROPN
easat-3052	189	1	(	(	PUNCT
easat-3052	189	2	2014	2014	NUM
easat-3052	189	3	)	)	PUNCT
easat-3052	189	4	,	,	PUNCT
easat-3052	189	5	zeitun	zeitun	NOUN
easat-3052	189	6	and	and	CCONJ
easat-3052	189	7	tian	tian	ADJ
easat-3052	189	8	(	(	PUNCT
easat-3052	189	9	2007	2007	NUM
easat-3052	189	10	)	)	PUNCT
easat-3052	189	11	,	,	PUNCT
easat-3052	189	12	acar	acar	NOUN
easat-3052	189	13	(	(	PUNCT
easat-3052	189	14	2018	2018	NUM
easat-3052	189	15	)	)	PUNCT
easat-3052	189	16	,	,	PUNCT
easat-3052	189	17	and	and	CCONJ
easat-3052	189	18	others	other	NOUN
easat-3052	189	19	.	.	PUNCT
easat-3052	190	1	in	in	ADP
easat-3052	190	2	this	this	DET
easat-3052	190	3	study	study	NOUN
easat-3052	190	4	,	,	PUNCT
easat-3052	190	5	the	the	DET
easat-3052	190	6	statistical	statistical	ADJ
easat-3052	190	7	software	software	NOUN
easat-3052	190	8	eviews	eviews	PROPN
easat-3052	190	9	12	12	NUM
easat-3052	190	10	has	have	AUX
easat-3052	190	11	been	be	AUX
easat-3052	190	12	used	use	VERB
easat-3052	190	13	to	to	PART
easat-3052	190	14	obtain	obtain	VERB
easat-3052	190	15	the	the	DET
easat-3052	190	16	regression	regression	NOUN
easat-3052	190	17	models	model	NOUN
easat-3052	190	18	and	and	CCONJ
easat-3052	190	19	evaluate	evaluate	VERB
easat-3052	190	20	their	their	PRON
easat-3052	190	21	correlation	correlation	NOUN
easat-3052	190	22	coefficients	coefficient	NOUN
easat-3052	190	23	.	.	PUNCT
easat-3052	191	1	in	in	ADP
easat-3052	191	2	line	line	NOUN
easat-3052	191	3	with	with	ADP
easat-3052	191	4	other	other	ADJ
easat-3052	191	5	research	research	NOUN
easat-3052	191	6	(	(	PUNCT
easat-3052	191	7	chittenden	chittenden	PROPN
easat-3052	191	8	et	et	PROPN
easat-3052	191	9	al	al	PROPN
easat-3052	191	10	.	.	PROPN
easat-3052	191	11	,	,	PUNCT
easat-3052	191	12	1996	1996	NUM
easat-3052	191	13	;	;	PUNCT
easat-3052	191	14	mac	mac	PROPN
easat-3052	191	15	an	an	DET
easat-3052	191	16	bhaird	bhaird	NOUN
easat-3052	191	17	and	and	CCONJ
easat-3052	191	18	lucey	lucey	PROPN
easat-3052	191	19	,	,	PUNCT
easat-3052	191	20	2010	2010	NUM
easat-3052	191	21	,	,	PUNCT
easat-3052	191	22	2014	2014	NUM
easat-3052	191	23	;	;	PUNCT
easat-3052	191	24	michaelas	michaelas	ADP
easat-3052	191	25	et	et	PROPN
easat-3052	191	26	al	al	PROPN
easat-3052	191	27	.	.	PROPN
easat-3052	191	28	,	,	PUNCT
easat-3052	191	29	1999	1999	NUM
easat-3052	191	30	)	)	PUNCT
easat-3052	191	31	,	,	PUNCT
easat-3052	191	32	to	to	PART
easat-3052	191	33	assess	assess	VERB
easat-3052	191	34	the	the	DET
easat-3052	191	35	hypotheses	hypothesis	NOUN
easat-3052	191	36	and	and	CCONJ
easat-3052	191	37	determine	determine	VERB
easat-3052	191	38	possible	possible	ADJ
easat-3052	191	39	relationships	relationship	NOUN
easat-3052	191	40	between	between	ADP
easat-3052	191	41	independent	independent	ADJ
easat-3052	191	42	and	and	CCONJ
easat-3052	191	43	dependent	dependent	ADJ
easat-3052	191	44	variables	variable	NOUN
easat-3052	191	45	,	,	PUNCT
easat-3052	191	46	the	the	DET
easat-3052	191	47	specification	specification	NOUN
easat-3052	191	48	of	of	ADP
easat-3052	191	49	the	the	DET
easat-3052	191	50	ols	ol	NOUN
easat-3052	191	51	regression	regression	PROPN
easat-3052	191	52	estimation	estimation	NOUN
easat-3052	191	53	model	model	NOUN
easat-3052	191	54	is	be	AUX
easat-3052	191	55	as	as	SCONJ
easat-3052	191	56	follows	follow	VERB
easat-3052	191	57	.	.	PUNCT
easat-3052	192	1	following	follow	VERB
easat-3052	192	2	long	long	PROPN
easat-3052	192	3	's	's	PART
easat-3052	192	4	(	(	PUNCT
easat-3052	192	5	1997	1997	NUM
easat-3052	192	6	)	)	PUNCT
easat-3052	193	1	[	[	X
easat-3052	193	2	28	28	NUM
easat-3052	193	3	]	]	X
easat-3052	193	4	model	model	NOUN
easat-3052	193	5	,	,	PUNCT
easat-3052	193	6	we	we	PRON
easat-3052	193	7	can	can	AUX
easat-3052	193	8	express	express	VERB
easat-3052	193	9	the	the	DET
easat-3052	193	10	linear	linear	ADJ
easat-3052	193	11	regression	regression	NOUN
easat-3052	193	12	model	model	NOUN
easat-3052	193	13	as	as	SCONJ
easat-3052	193	14	follows	follow	VERB
easat-3052	193	15	in	in	ADP
easat-3052	193	16	equation	equation	NOUN
easat-3052	193	17	1	1	NUM
easat-3052	193	18	:	:	PUNCT
easat-3052	193	19	(	(	PUNCT
easat-3052	193	20	1	1	X
easat-3052	193	21	)	)	PUNCT
easat-3052	193	22	4891	4891	NUM
easat-3052	193	23	edelweiss	edelweiss	PROPN
easat-3052	193	24	applied	apply	VERB
easat-3052	193	25	science	science	NOUN
easat-3052	193	26	and	and	CCONJ
easat-3052	193	27	technology	technology	NOUN
easat-3052	193	28	issn	issn	PROPN
easat-3052	193	29	:	:	PUNCT
easat-3052	193	30	2576	2576	NUM
easat-3052	193	31	-	-	SYM
easat-3052	193	32	8484	8484	NUM
easat-3052	193	33	vol	vol	NOUN
easat-3052	193	34	.	.	PROPN
easat-3052	193	35	8	8	NUM
easat-3052	193	36	,	,	PUNCT
easat-3052	193	37	no	no	INTJ
easat-3052	193	38	.	.	NOUN
easat-3052	194	1	6	6	NUM
easat-3052	194	2	:	:	SYM
easat-3052	194	3	4884	4884	NUM
easat-3052	194	4	-	-	SYM
easat-3052	194	5	4902	4902	NUM
easat-3052	194	6	,	,	PUNCT
easat-3052	194	7	2024	2024	NUM
easat-3052	194	8	doi	doi	NOUN
easat-3052	194	9	:	:	PUNCT
easat-3052	194	10	10.55214/25768484.v8i6.3052	10.55214/25768484.v8i6.3052	NUM
easat-3052	194	11	©	©	ADP
easat-3052	194	12	2024	2024	NUM
easat-3052	194	13	by	by	ADP
easat-3052	194	14	the	the	DET
easat-3052	194	15	author	author	NOUN
easat-3052	194	16	;	;	PUNCT
easat-3052	194	17	licensee	licensee	PROPN
easat-3052	194	18	learning	learn	VERB
easat-3052	194	19	gate	gate	NOUN
easat-3052	194	20	in	in	ADP
easat-3052	194	21	this	this	DET
easat-3052	194	22	case	case	NOUN
easat-3052	194	23	,	,	PUNCT
easat-3052	194	24	yi	yi	PROPN
easat-3052	194	25	represents	represent	VERB
easat-3052	194	26	the	the	DET
easat-3052	194	27	dependent	dependent	ADJ
easat-3052	194	28	variable	variable	NOUN
easat-3052	194	29	,	,	PUNCT
easat-3052	194	30	and	and	CCONJ
easat-3052	194	31	xi	xi	PRON
easat-3052	194	32	represents	represent	VERB
easat-3052	194	33	the	the	DET
easat-3052	194	34	independent	independent	ADJ
easat-3052	194	35	variables	variable	NOUN
easat-3052	194	36	,	,	PUNCT
easat-3052	194	37	with	with	ADP
easat-3052	194	38	ϵit	ϵit	NUM
easat-3052	194	39	being	be	AUX
easat-3052	194	40	the	the	DET
easat-3052	194	41	random	random	ADJ
easat-3052	194	42	error	error	NOUN
easat-3052	194	43	term	term	NOUN
easat-3052	194	44	.	.	PUNCT
easat-3052	195	1	the	the	DET
easat-3052	195	2	index	index	NOUN
easat-3052	195	3	(	(	PUNCT
easat-3052	195	4	i	i	NOUN
easat-3052	195	5	)	)	PUNCT
easat-3052	195	6	represents	represent	VERB
easat-3052	195	7	the	the	DET
easat-3052	195	8	observation	observation	NOUN
easat-3052	195	9	number	number	NOUN
easat-3052	195	10	out	out	ADP
easat-3052	195	11	of	of	ADP
easat-3052	195	12	n	n	DET
easat-3052	195	13	random	random	ADJ
easat-3052	195	14	observations	observation	NOUN
easat-3052	195	15	.	.	PUNCT
easat-3052	196	1	the	the	DET
easat-3052	196	2	parameters	parameter	NOUN
easat-3052	196	3	β1	β1	VERB
easat-3052	196	4	to	to	PART
easat-3052	196	5	βk	βk	VERB
easat-3052	196	6	indicate	indicate	VERB
easat-3052	196	7	the	the	DET
easat-3052	196	8	effect	effect	NOUN
easat-3052	196	9	of	of	ADP
easat-3052	196	10	a	a	DET
easat-3052	196	11	given	give	VERB
easat-3052	196	12	xi	xi	X
easat-3052	196	13	(	(	PUNCT
easat-3052	196	14	independent	independent	ADJ
easat-3052	196	15	variable	variable	NOUN
easat-3052	196	16	)	)	PUNCT
easat-3052	196	17	on	on	ADP
easat-3052	196	18	yi	yi	PROPN
easat-3052	196	19	(	(	PUNCT
easat-3052	196	20	dependent	dependent	ADJ
easat-3052	196	21	variable	variable	NOUN
easat-3052	196	22	)	)	PUNCT
easat-3052	196	23	.	.	PUNCT
easat-3052	197	1	β0	β0	PROPN
easat-3052	197	2	is	be	AUX
easat-3052	197	3	the	the	DET
easat-3052	197	4	intercept	intercept	NOUN
easat-3052	197	5	that	that	PRON
easat-3052	197	6	represents	represent	VERB
easat-3052	197	7	the	the	DET
easat-3052	197	8	expected	expect	VERB
easat-3052	197	9	value	value	NOUN
easat-3052	197	10	of	of	ADP
easat-3052	197	11	yi	yi	NOUN
easat-3052	197	12	when	when	SCONJ
easat-3052	197	13	all	all	PRON
easat-3052	197	14	x	x	PROPN
easat-3052	197	15	variables	variable	NOUN
easat-3052	197	16	are	be	AUX
easat-3052	197	17	zero.in	zero.in	NUM
easat-3052	197	18	our	our	PRON
easat-3052	197	19	case	case	NOUN
easat-3052	197	20	of	of	ADP
easat-3052	197	21	panel	panel	NOUN
easat-3052	197	22	data	datum	NOUN
easat-3052	197	23	,	,	PUNCT
easat-3052	197	24	where	where	SCONJ
easat-3052	197	25	we	we	PRON
easat-3052	197	26	have	have	VERB
easat-3052	197	27	a	a	DET
easat-3052	197	28	combination	combination	NOUN
easat-3052	197	29	of	of	ADP
easat-3052	197	30	cross	cross	ADJ
easat-3052	197	31	-	-	ADJ
easat-3052	197	32	sectional	sectional	ADJ
easat-3052	197	33	and	and	CCONJ
easat-3052	197	34	time	time	NOUN
easat-3052	197	35	series	series	PROPN
easat-3052	197	36	data	data	PROPN
easat-3052	197	37	,	,	PUNCT
easat-3052	197	38	the	the	DET
easat-3052	197	39	general	general	ADJ
easat-3052	197	40	form	form	NOUN
easat-3052	197	41	of	of	ADP
easat-3052	197	42	the	the	DET
easat-3052	197	43	regression	regression	NOUN
easat-3052	197	44	model	model	NOUN
easat-3052	197	45	,	,	PUNCT
easat-3052	197	46	following	follow	VERB
easat-3052	197	47	baum	baum	PROPN
easat-3052	197	48	(	(	PUNCT
easat-3052	197	49	2006	2006	NUM
easat-3052	197	50	)	)	PUNCT
easat-3052	197	51	,	,	PUNCT
easat-3052	197	52	will	will	AUX
easat-3052	197	53	be	be	AUX
easat-3052	197	54	as	as	SCONJ
easat-3052	197	55	follows	follow	VERB
easat-3052	197	56	in	in	ADP
easat-3052	197	57	equation	equation	NOUN
easat-3052	197	58	2	2	NUM
easat-3052	197	59	:	:	PUNCT
easat-3052	197	60	(	(	PUNCT
easat-3052	197	61	2	2	X
easat-3052	197	62	)	)	PUNCT
easat-3052	197	63	where	where	SCONJ
easat-3052	197	64	n	n	PRON
easat-3052	197	65	is	be	AUX
easat-3052	197	66	the	the	DET
easat-3052	197	67	number	number	NOUN
easat-3052	197	68	of	of	ADP
easat-3052	197	69	individuals	individual	NOUN
easat-3052	197	70	(	(	PUNCT
easat-3052	197	71	in	in	ADP
easat-3052	197	72	this	this	DET
easat-3052	197	73	study	study	NOUN
easat-3052	197	74	75	75	NUM
easat-3052	197	75	firms	firm	NOUN
easat-3052	197	76	)	)	PUNCT
easat-3052	197	77	and	and	CCONJ
easat-3052	197	78	t	t	PROPN
easat-3052	197	79	is	be	AUX
easat-3052	197	80	the	the	DET
easat-3052	197	81	number	number	NOUN
easat-3052	197	82	of	of	ADP
easat-3052	197	83	time	time	NOUN
easat-3052	197	84	periods	period	NOUN
easat-3052	197	85	(	(	PUNCT
easat-3052	197	86	in	in	ADP
easat-3052	197	87	this	this	DET
easat-3052	197	88	study	study	NOUN
easat-3052	197	89	5	5	NUM
easat-3052	197	90	years	year	NOUN
easat-3052	197	91	)	)	PUNCT
easat-3052	197	92	.	.	PUNCT
easat-3052	198	1	yit	yit	PROPN
easat-3052	198	2	represents	represent	VERB
easat-3052	198	3	the	the	DET
easat-3052	198	4	three	three	NUM
easat-3052	198	5	ratios	ratio	NOUN
easat-3052	198	6	used	use	VERB
easat-3052	198	7	to	to	PART
easat-3052	198	8	measure	measure	VERB
easat-3052	198	9	financial	financial	ADJ
easat-3052	198	10	leverage	leverage	NOUN
easat-3052	198	11	as	as	ADP
easat-3052	198	12	the	the	DET
easat-3052	198	13	dependent	dependent	ADJ
easat-3052	198	14	variable	variable	NOUN
easat-3052	198	15	,	,	PUNCT
easat-3052	198	16	and	and	CCONJ
easat-3052	198	17	xit	xit	PROPN
easat-3052	198	18	represents	represent	VERB
easat-3052	198	19	the	the	DET
easat-3052	198	20	independent	independent	ADJ
easat-3052	198	21	variables	variable	NOUN
easat-3052	198	22	.	.	PUNCT
easat-3052	199	1	model	model	NOUN
easat-3052	199	2	1	1	NUM
easat-3052	199	3	:	:	PUNCT
easat-3052	199	4	bt	bt	PROPN
easat-3052	199	5	it=	it=	PROPN
easat-3052	199	6	α	α	PROPN
easat-3052	199	7	+	+	CCONJ
easat-3052	199	8	β1	β1	PROPN
easat-3052	199	9	roait	roait	NOUN
easat-3052	199	10	+	+	CCONJ
easat-3052	199	11	β2	β2	NOUN
easat-3052	199	12	roeit	roeit	NOUN
easat-3052	199	13	+	+	CCONJ
easat-3052	199	14	β3	β3	VERB
easat-3052	199	15	tait	tait	X
easat-3052	199	16	+	+	CCONJ
easat-3052	199	17	β4	β4	PROPN
easat-3052	199	18	lfit	lfit	NOUN
easat-3052	199	19	+	+	CCONJ
easat-3052	199	20	β5	β5	ADJ
easat-3052	199	21	mfit	mfit	NOUN
easat-3052	200	1	+	+	CCONJ
easat-3052	200	2	β6	β6	PROPN
easat-3052	200	3	ffit	ffit	VERB
easat-3052	200	4	+	+	CCONJ
easat-3052	200	5	β7	β7	ADJ
easat-3052	200	6	ptjbit	ptjbit	NOUN
easat-3052	200	7	+	+	CCONJ
easat-3052	200	8	β8	β8	NOUN
easat-3052	200	9	mrrit	mrrit	NOUN
easat-3052	201	1	+	+	CCONJ
easat-3052	201	2	β9	β9	ADJ
easat-3052	201	3	mofit	mofit	NOUN
easat-3052	201	4	+	+	CCONJ
easat-3052	201	5	β10	β10	NOUN
easat-3052	201	6	rrbit	rrbit	NOUN
easat-3052	201	7	+	+	CCONJ
easat-3052	201	8	bt	bt	PROPN
easat-3052	201	9	(	(	PUNCT
easat-3052	201	10	-1)it-1	-1)it-1	PROPN
easat-3052	201	11	+	+	X
easat-3052	201	12	εit	εit	VERB
easat-3052	201	13	(	(	PUNCT
easat-3052	201	14	3	3	NUM
easat-3052	201	15	)	)	PUNCT
easat-3052	201	16	model	model	NOUN
easat-3052	201	17	2	2	NUM
easat-3052	201	18	:	:	PUNCT
easat-3052	201	19	bagj	bagj	NOUN
easat-3052	201	20	it=	it=	VERB
easat-3052	201	21	α	α	PROPN
easat-3052	201	22	+	+	CCONJ
easat-3052	201	23	β1	β1	PROPN
easat-3052	201	24	roait	roait	NOUN
easat-3052	201	25	+	+	CCONJ
easat-3052	201	26	β2	β2	NOUN
easat-3052	201	27	roeit	roeit	NOUN
easat-3052	201	28	+	+	CCONJ
easat-3052	201	29	β3	β3	VERB
easat-3052	201	30	tait	tait	X
easat-3052	201	31	+	+	CCONJ
easat-3052	201	32	β4	β4	PROPN
easat-3052	201	33	lfit	lfit	NOUN
easat-3052	201	34	+	+	CCONJ
easat-3052	201	35	β5	β5	ADJ
easat-3052	201	36	mfit	mfit	NOUN
easat-3052	202	1	+	+	CCONJ
easat-3052	202	2	β6	β6	PROPN
easat-3052	202	3	ffit	ffit	VERB
easat-3052	202	4	+	+	CCONJ
easat-3052	202	5	β7	β7	ADJ
easat-3052	202	6	ptjbit	ptjbit	NOUN
easat-3052	202	7	+	+	CCONJ
easat-3052	202	8	β8	β8	NOUN
easat-3052	202	9	mrrit	mrrit	NOUN
easat-3052	202	10	+	+	CCONJ
easat-3052	202	11	β9	β9	ADJ
easat-3052	202	12	moitf	moitf	NOUN
easat-3052	202	13	+	+	CCONJ
easat-3052	202	14	β10	β10	NOUN
easat-3052	202	15	rrbit	rrbit	NOUN
easat-3052	202	16	+	+	CCONJ
easat-3052	202	17	bagj	bagj	ADJ
easat-3052	202	18	(	(	PUNCT
easat-3052	202	19	-1	-1	ADJ
easat-3052	202	20	)	)	PUNCT
easat-3052	202	21	it-1	it-1	X
easat-3052	202	22	+	+	CCONJ
easat-3052	202	23	εit	εit	VERB
easat-3052	202	24	(	(	PUNCT
easat-3052	202	25	4	4	NUM
easat-3052	202	26	)	)	PUNCT
easat-3052	202	27	model	model	NOUN
easat-3052	202	28	3	3	NUM
easat-3052	202	29	:	:	PUNCT
easat-3052	202	30	bash	bash	NOUN
easat-3052	202	31	it=	it=	VERB
easat-3052	202	32	α	α	NOUN
easat-3052	202	33	+	+	CCONJ
easat-3052	202	34	β1	β1	PROPN
easat-3052	202	35	roait	roait	NOUN
easat-3052	202	36	+	+	CCONJ
easat-3052	202	37	β2	β2	NOUN
easat-3052	202	38	roeit	roeit	NOUN
easat-3052	202	39	+	+	CCONJ
easat-3052	202	40	β3	β3	VERB
easat-3052	202	41	tait	tait	X
easat-3052	202	42	+	+	CCONJ
easat-3052	202	43	β4	β4	PROPN
easat-3052	202	44	lfit	lfit	NOUN
easat-3052	202	45	+	+	CCONJ
easat-3052	202	46	β5	β5	ADJ
easat-3052	202	47	mfit	mfit	NOUN
easat-3052	203	1	+	+	CCONJ
easat-3052	203	2	β6	β6	PROPN
easat-3052	203	3	ffit	ffit	VERB
easat-3052	203	4	+	+	CCONJ
easat-3052	203	5	β7	β7	ADJ
easat-3052	203	6	ptjbit	ptjbit	NOUN
easat-3052	203	7	+	+	CCONJ
easat-3052	203	8	β8	β8	NOUN
easat-3052	203	9	mrrit	mrrit	NOUN
easat-3052	204	1	+	+	CCONJ
easat-3052	205	1	β9	β9	ADJ
easat-3052	205	2	mofit	mofit	NOUN
easat-3052	205	3	+	+	CCONJ
easat-3052	205	4	β10	β10	NOUN
easat-3052	205	5	rrbit	rrbit	NOUN
easat-3052	205	6	+	+	CCONJ
easat-3052	205	7	bash	bash	NOUN
easat-3052	205	8	(	(	PUNCT
easat-3052	205	9	-1)it-1	-1)it-1	VERB
easat-3052	206	1	+	+	ADJ
easat-3052	206	2	εit	εit	VERB
easat-3052	206	3	(	(	PUNCT
easat-3052	206	4	5	5	NUM
easat-3052	206	5	)	)	PUNCT
easat-3052	206	6	for	for	ADP
easat-3052	206	7	the	the	DET
easat-3052	206	8	reasons	reason	NOUN
easat-3052	206	9	discussed	discuss	VERB
easat-3052	206	10	above	above	ADP
easat-3052	206	11	,	,	PUNCT
easat-3052	206	12	panel	panel	NOUN
easat-3052	206	13	data	datum	NOUN
easat-3052	206	14	were	be	AUX
easat-3052	206	15	created	create	VERB
easat-3052	206	16	and	and	CCONJ
easat-3052	206	17	used	use	VERB
easat-3052	206	18	for	for	ADP
easat-3052	206	19	analysis	analysis	NOUN
easat-3052	206	20	in	in	ADP
easat-3052	206	21	this	this	DET
easat-3052	206	22	study	study	NOUN
easat-3052	206	23	due	due	ADP
easat-3052	206	24	to	to	ADP
easat-3052	206	25	several	several	ADJ
easat-3052	206	26	advantages	advantage	NOUN
easat-3052	206	27	they	they	PRON
easat-3052	206	28	offer	offer	VERB
easat-3052	206	29	in	in	ADP
easat-3052	206	30	our	our	PRON
easat-3052	206	31	sample	sample	NOUN
easat-3052	206	32	compared	compare	VERB
easat-3052	206	33	to	to	ADP
easat-3052	206	34	cross	cross	ADJ
easat-3052	206	35	-	-	ADJ
easat-3052	206	36	sectional	sectional	ADJ
easat-3052	206	37	or	or	CCONJ
easat-3052	206	38	time	time	NOUN
easat-3052	206	39	series	series	PROPN
easat-3052	206	40	data	datum	NOUN
easat-3052	206	41	in	in	ADP
easat-3052	206	42	particular	particular	ADJ
easat-3052	206	43	.	.	PUNCT
easat-3052	207	1	3.4	3.4	NUM
easat-3052	207	2	.	.	PUNCT
easat-3052	207	3	hypotheses	hypothese	VERB
easat-3052	207	4	development	development	NOUN
easat-3052	207	5	3.4.1	3.4.1	NOUN
easat-3052	207	6	.	.	PUNCT
easat-3052	208	1	hypothesis	hypothesis	NOUN
easat-3052	208	2	1	1	NUM
easat-3052	208	3	:	:	PUNCT
easat-3052	208	4	performance	performance	NOUN
easat-3052	208	5	due	due	ADP
easat-3052	208	6	to	to	ADP
easat-3052	208	7	information	information	NOUN
easat-3052	208	8	asymmetries	asymmetry	NOUN
easat-3052	208	9	between	between	ADP
easat-3052	208	10	internal	internal	ADJ
easat-3052	208	11	business	business	NOUN
easat-3052	208	12	actors	actor	NOUN
easat-3052	208	13	and	and	CCONJ
easat-3052	208	14	outsiders	outsider	NOUN
easat-3052	208	15	,	,	PUNCT
easat-3052	208	16	asymmetric	asymmetric	ADJ
easat-3052	208	17	information	information	NOUN
easat-3052	208	18	provides	provide	VERB
easat-3052	208	19	an	an	DET
easat-3052	208	20	additional	additional	ADJ
easat-3052	208	21	theoretical	theoretical	ADJ
easat-3052	208	22	framework	framework	NOUN
easat-3052	208	23	for	for	ADP
easat-3052	208	24	determining	determine	VERB
easat-3052	208	25	capital	capital	NOUN
easat-3052	208	26	structure	structure	NOUN
easat-3052	208	27	,	,	PUNCT
easat-3052	208	28	primarily	primarily	ADV
easat-3052	208	29	through	through	ADP
easat-3052	208	30	the	the	DET
easat-3052	208	31	pecking	pecking	NOUN
easat-3052	208	32	order	order	NOUN
easat-3052	208	33	hypothesis	hypothesis	NOUN
easat-3052	208	34	.	.	PUNCT
easat-3052	209	1	in	in	ADP
easat-3052	209	2	particular	particular	ADJ
easat-3052	209	3	,	,	PUNCT
easat-3052	209	4	debt	debt	NOUN
easat-3052	209	5	occupies	occupy	VERB
easat-3052	209	6	an	an	DET
easat-3052	209	7	intermediate	intermediate	ADJ
easat-3052	209	8	position	position	NOUN
easat-3052	209	9	,	,	PUNCT
easat-3052	209	10	while	while	SCONJ
easat-3052	209	11	internal	internal	ADJ
easat-3052	209	12	funds	fund	NOUN
easat-3052	209	13	incur	incur	VERB
easat-3052	209	14	no	no	DET
easat-3052	209	15	information	information	NOUN
easat-3052	209	16	costs	cost	NOUN
easat-3052	209	17	,	,	PUNCT
easat-3052	209	18	which	which	PRON
easat-3052	209	19	are	be	AUX
easat-3052	209	20	especially	especially	ADV
easat-3052	209	21	high	high	ADJ
easat-3052	209	22	when	when	SCONJ
easat-3052	209	23	new	new	ADJ
easat-3052	209	24	capital	capital	NOUN
easat-3052	209	25	is	be	AUX
easat-3052	209	26	issued	issue	VERB
easat-3052	209	27	.	.	PUNCT
easat-3052	210	1	according	accord	VERB
easat-3052	210	2	to	to	ADP
easat-3052	210	3	the	the	DET
easat-3052	210	4	pecking	pecking	NOUN
easat-3052	210	5	order	order	NOUN
easat-3052	210	6	theory	theory	NOUN
easat-3052	210	7	(	(	PUNCT
easat-3052	210	8	pot	pot	NOUN
easat-3052	210	9	)	)	PUNCT
easat-3052	210	10	,	,	PUNCT
easat-3052	210	11	performance	performance	NOUN
easat-3052	210	12	and	and	CCONJ
easat-3052	210	13	debt	debt	NOUN
easat-3052	210	14	are	be	AUX
easat-3052	210	15	expected	expect	VERB
easat-3052	210	16	to	to	PART
easat-3052	210	17	be	be	AUX
easat-3052	210	18	negatively	negatively	ADV
easat-3052	210	19	correlated	correlate	VERB
easat-3052	210	20	(	(	PUNCT
easat-3052	210	21	booth	booth	NOUN
easat-3052	210	22	,	,	PUNCT
easat-3052	210	23	aivazian	aivazian	ADJ
easat-3052	210	24	,	,	PUNCT
easat-3052	210	25	demirguc	demirguc	PROPN
easat-3052	210	26	-	-	PUNCT
easat-3052	210	27	kunt	kunt	PROPN
easat-3052	210	28	,	,	PUNCT
easat-3052	210	29	&	&	CCONJ
easat-3052	210	30	maksimovic	maksimovic	PROPN
easat-3052	210	31	,	,	PUNCT
easat-3052	210	32	2001	2001	NUM
easat-3052	210	33	;	;	PUNCT
easat-3052	210	34	frank	frank	PROPN
easat-3052	210	35	&	&	CCONJ
easat-3052	210	36	goyal	goyal	PROPN
easat-3052	210	37	,	,	PUNCT
easat-3052	210	38	2009	2009	NUM
easat-3052	210	39	;	;	PUNCT
easat-3052	210	40	rajan	rajan	PROPN
easat-3052	210	41	&	&	CCONJ
easat-3052	210	42	zingales	zingales	PROPN
easat-3052	210	43	,	,	PUNCT
easat-3052	210	44	1995	1995	NUM
easat-3052	210	45	)	)	PUNCT
easat-3052	211	1	[	[	X
easat-3052	211	2	12	12	NUM
easat-3052	211	3	-	-	SYM
easat-3052	211	4	15	15	NUM
easat-3052	211	5	]	]	PUNCT
easat-3052	211	6	,	,	PUNCT
easat-3052	211	7	[	[	X
easat-3052	211	8	38	38	NUM
easat-3052	211	9	,	,	PUNCT
easat-3052	211	10	39	39	NUM
easat-3052	211	11	]	]	PUNCT
easat-3052	211	12	.	.	PUNCT
easat-3052	212	1	h1o	h1o	ADV
easat-3052	212	2	/	/	SYM
easat-3052	212	3	a	a	PRON
easat-3052	212	4	:	:	PUNCT
easat-3052	212	5	roa	roa	NOUN
easat-3052	212	6	is	be	AUX
easat-3052	212	7	not	not	PART
easat-3052	212	8	negatively	negatively	ADV
easat-3052	212	9	related	relate	VERB
easat-3052	212	10	to	to	ADP
easat-3052	212	11	total	total	ADJ
easat-3052	212	12	debt	debt	NOUN
easat-3052	212	13	(	(	PUNCT
easat-3052	212	14	bt	bt	NOUN
easat-3052	212	15	)	)	PUNCT
easat-3052	212	16	h1a	h1a	PROPN
easat-3052	212	17	/	/	SYM
easat-3052	212	18	a	a	PRON
easat-3052	212	19	:	:	PUNCT
easat-3052	212	20	roa	roa	NOUN
easat-3052	212	21	is	be	AUX
easat-3052	212	22	negatively	negatively	ADV
easat-3052	212	23	related	relate	VERB
easat-3052	212	24	to	to	ADP
easat-3052	212	25	total	total	ADJ
easat-3052	212	26	debt	debt	NOUN
easat-3052	212	27	(	(	PUNCT
easat-3052	212	28	bt	bt	NOUN
easat-3052	212	29	)	)	PUNCT
easat-3052	213	1	h1o	h1o	NOUN
easat-3052	213	2	/	/	SYM
easat-3052	213	3	b	b	NOUN
easat-3052	213	4	:	:	PUNCT
easat-3052	213	5	roe	roe	NOUN
easat-3052	213	6	is	be	AUX
easat-3052	213	7	not	not	PART
easat-3052	213	8	negatively	negatively	ADV
easat-3052	213	9	related	relate	VERB
easat-3052	213	10	to	to	ADP
easat-3052	213	11	total	total	ADJ
easat-3052	213	12	debt	debt	NOUN
easat-3052	213	13	(	(	PUNCT
easat-3052	213	14	bt	bt	NOUN
easat-3052	213	15	)	)	PUNCT
easat-3052	213	16	h1a	h1a	PROPN
easat-3052	213	17	/	/	SYM
easat-3052	213	18	b	b	NOUN
easat-3052	213	19	:	:	PUNCT
easat-3052	213	20	roe	roe	NOUN
easat-3052	213	21	is	be	AUX
easat-3052	213	22	negatively	negatively	ADV
easat-3052	213	23	related	relate	VERB
easat-3052	213	24	to	to	ADP
easat-3052	213	25	total	total	ADJ
easat-3052	213	26	debt	debt	NOUN
easat-3052	213	27	(	(	PUNCT
easat-3052	213	28	bt	bt	NOUN
easat-3052	213	29	)	)	PUNCT
easat-3052	213	30	3.4.2	3.4.2	NUM
easat-3052	213	31	.	.	PUNCT
easat-3052	214	1	hypothesis	hypothesis	NOUN
easat-3052	214	2	2	2	NUM
easat-3052	214	3	:	:	PUNCT
easat-3052	214	4	asset	asset	NOUN
easat-3052	214	5	tangibility	tangibility	NOUN
easat-3052	214	6	financial	financial	ADJ
easat-3052	214	7	leverage	leverage	NOUN
easat-3052	214	8	and	and	CCONJ
easat-3052	214	9	asset	asset	NOUN
easat-3052	214	10	tangibility	tangibility	NOUN
easat-3052	214	11	are	be	AUX
easat-3052	214	12	positively	positively	ADV
easat-3052	214	13	correlated	correlate	VERB
easat-3052	214	14	,	,	PUNCT
easat-3052	214	15	according	accord	VERB
easat-3052	214	16	to	to	ADP
easat-3052	214	17	several	several	ADJ
easat-3052	214	18	studies	study	NOUN
easat-3052	214	19	(	(	PUNCT
easat-3052	214	20	pandey	pandey	PROPN
easat-3052	214	21	,	,	PUNCT
easat-3052	214	22	2002	2002	NUM
easat-3052	214	23	;	;	PUNCT
easat-3052	214	24	drobetz	drobetz	ADJ
easat-3052	214	25	and	and	CCONJ
easat-3052	214	26	fix	fix	NOUN
easat-3052	214	27	,	,	PUNCT
easat-3052	214	28	2003	2003	NUM
easat-3052	214	29	;	;	PUNCT
easat-3052	214	30	fan	fan	PROPN
easat-3052	214	31	et	et	PROPN
easat-3052	214	32	al	al	PROPN
easat-3052	214	33	.	.	PROPN
easat-3052	214	34	,	,	PUNCT
easat-3052	214	35	2004	2004	NUM
easat-3052	214	36	)	)	PUNCT
easat-3052	214	37	.	.	PUNCT
easat-3052	215	1	their	their	PRON
easat-3052	215	2	conclusions	conclusion	NOUN
easat-3052	215	3	are	be	AUX
easat-3052	215	4	based	base	VERB
easat-3052	215	5	on	on	ADP
easat-3052	215	6	the	the	DET
easat-3052	215	7	claim	claim	NOUN
easat-3052	215	8	that	that	SCONJ
easat-3052	215	9	a	a	DET
easat-3052	215	10	company	company	NOUN
easat-3052	215	11	can	can	AUX
easat-3052	215	12	take	take	VERB
easat-3052	215	13	on	on	ADP
easat-3052	215	14	more	more	ADJ
easat-3052	215	15	debt	debt	NOUN
easat-3052	215	16	when	when	SCONJ
easat-3052	215	17	it	it	PRON
easat-3052	215	18	has	have	VERB
easat-3052	215	19	a	a	DET
easat-3052	215	20	higher	high	ADJ
easat-3052	215	21	ratio	ratio	NOUN
easat-3052	215	22	of	of	ADP
easat-3052	215	23	fixed	fix	VERB
easat-3052	215	24	assets	asset	NOUN
easat-3052	215	25	to	to	ADP
easat-3052	215	26	total	total	ADJ
easat-3052	215	27	assets	asset	NOUN
easat-3052	215	28	,	,	PUNCT
easat-3052	215	29	indicating	indicate	VERB
easat-3052	215	30	that	that	SCONJ
easat-3052	215	31	the	the	DET
easat-3052	215	32	company	company	NOUN
easat-3052	215	33	has	have	VERB
easat-3052	215	34	more	more	ADJ
easat-3052	215	35	tangible	tangible	ADJ
easat-3052	215	36	assets	asset	NOUN
easat-3052	215	37	(	(	PUNCT
easat-3052	215	38	parson	parson	NOUN
easat-3052	215	39	and	and	CCONJ
easat-3052	215	40	titman	titman	NOUN
easat-3052	215	41	,	,	PUNCT
easat-3052	215	42	2009	2009	NUM
easat-3052	215	43	)	)	PUNCT
easat-3052	215	44	.	.	PUNCT
easat-3052	216	1	h2o	h2o	NOUN
easat-3052	216	2	:	:	PUNCT
easat-3052	216	3	asset	asset	NOUN
easat-3052	216	4	tangibility	tangibility	NOUN
easat-3052	216	5	is	be	AUX
easat-3052	216	6	not	not	PART
easat-3052	216	7	positively	positively	ADV
easat-3052	216	8	related	relate	VERB
easat-3052	216	9	to	to	ADP
easat-3052	216	10	total	total	ADJ
easat-3052	216	11	debt	debt	NOUN
easat-3052	216	12	(	(	PUNCT
easat-3052	216	13	bt	bt	NOUN
easat-3052	216	14	)	)	PUNCT
easat-3052	216	15	h2a	h2a	NOUN
easat-3052	216	16	:	:	PUNCT
easat-3052	216	17	asset	asset	NOUN
easat-3052	216	18	tangibility	tangibility	NOUN
easat-3052	216	19	is	be	AUX
easat-3052	216	20	positively	positively	ADV
easat-3052	216	21	related	relate	VERB
easat-3052	216	22	to	to	AUX
easat-3052	216	23	total	total	ADJ
easat-3052	216	24	debt	debt	NOUN
easat-3052	216	25	(	(	PUNCT
easat-3052	216	26	bt	bt	NOUN
easat-3052	216	27	)	)	PUNCT
easat-3052	216	28	4892	4892	NUM
easat-3052	216	29	edelweiss	edelweiss	PROPN
easat-3052	216	30	applied	apply	VERB
easat-3052	216	31	science	science	NOUN
easat-3052	216	32	and	and	CCONJ
easat-3052	216	33	technology	technology	NOUN
easat-3052	216	34	issn	issn	PROPN
easat-3052	216	35	:	:	PUNCT
easat-3052	216	36	2576	2576	NUM
easat-3052	216	37	-	-	SYM
easat-3052	216	38	8484	8484	NUM
easat-3052	216	39	vol	vol	NOUN
easat-3052	216	40	.	.	PROPN
easat-3052	216	41	8	8	NUM
easat-3052	216	42	,	,	PUNCT
easat-3052	216	43	no	no	INTJ
easat-3052	216	44	.	.	NOUN
easat-3052	217	1	6	6	NUM
easat-3052	217	2	:	:	SYM
easat-3052	217	3	4884	4884	NUM
easat-3052	217	4	-	-	SYM
easat-3052	217	5	4902	4902	NUM
easat-3052	217	6	,	,	PUNCT
easat-3052	217	7	2024	2024	NUM
easat-3052	217	8	doi	doi	NOUN
easat-3052	217	9	:	:	PUNCT
easat-3052	217	10	10.55214/25768484.v8i6.3052	10.55214/25768484.v8i6.3052	NUM
easat-3052	217	11	©	©	ADP
easat-3052	217	12	2024	2024	NUM
easat-3052	217	13	by	by	ADP
easat-3052	217	14	the	the	DET
easat-3052	217	15	author	author	NOUN
easat-3052	217	16	;	;	PUNCT
easat-3052	217	17	licensee	licensee	PROPN
easat-3052	217	18	learning	learn	VERB
easat-3052	217	19	gate	gate	NOUN
easat-3052	217	20	3.4.3	3.4.3	PROPN
easat-3052	217	21	.	.	PUNCT
easat-3052	217	22	hypothesis	hypothesis	NOUN
easat-3052	217	23	3	3	NUM
easat-3052	217	24	:	:	PUNCT
easat-3052	217	25	firm	firm	ADJ
easat-3052	217	26	liquidity	liquidity	NOUN
easat-3052	217	27	the	the	DET
easat-3052	217	28	liquidity	liquidity	NOUN
easat-3052	217	29	ratio	ratio	NOUN
easat-3052	217	30	indicates	indicate	VERB
easat-3052	217	31	how	how	SCONJ
easat-3052	217	32	well	well	ADV
easat-3052	217	33	a	a	DET
easat-3052	217	34	company	company	NOUN
easat-3052	217	35	can	can	AUX
easat-3052	217	36	invest	invest	VERB
easat-3052	217	37	beyond	beyond	ADP
easat-3052	217	38	covering	cover	VERB
easat-3052	217	39	its	its	PRON
easat-3052	217	40	current	current	ADJ
easat-3052	217	41	liabilities	liability	NOUN
easat-3052	217	42	and	and	CCONJ
easat-3052	217	43	expenses	expense	NOUN
easat-3052	217	44	.	.	PUNCT
easat-3052	218	1	according	accord	VERB
easat-3052	218	2	to	to	ADP
easat-3052	218	3	the	the	DET
easat-3052	218	4	pecking	pecking	NOUN
easat-3052	218	5	order	order	NOUN
easat-3052	218	6	theory	theory	NOUN
easat-3052	218	7	(	(	PUNCT
easat-3052	218	8	pot	pot	NOUN
easat-3052	218	9	)	)	PUNCT
easat-3052	218	10	,	,	PUNCT
easat-3052	218	11	companies	company	NOUN
easat-3052	218	12	with	with	ADP
easat-3052	218	13	high	high	ADJ
easat-3052	218	14	liquidity	liquidity	NOUN
easat-3052	218	15	should	should	AUX
easat-3052	218	16	have	have	VERB
easat-3052	218	17	less	less	ADJ
easat-3052	218	18	debt	debt	NOUN
easat-3052	218	19	(	(	PUNCT
easat-3052	218	20	deesomsak	deesomsak	NOUN
easat-3052	218	21	et	et	PROPN
easat-3052	218	22	al	al	PROPN
easat-3052	218	23	.	.	PROPN
easat-3052	218	24	,	,	PUNCT
easat-3052	218	25	2004	2004	NUM
easat-3052	218	26	;	;	PUNCT
easat-3052	218	27	proença	proença	NOUN
easat-3052	218	28	et	et	PROPN
easat-3052	218	29	al	al	PROPN
easat-3052	218	30	.	.	PROPN
easat-3052	218	31	,	,	PUNCT
easat-3052	218	32	2014	2014	NUM
easat-3052	218	33	)	)	PUNCT
easat-3052	218	34	because	because	SCONJ
easat-3052	218	35	they	they	PRON
easat-3052	218	36	can	can	AUX
easat-3052	218	37	rely	rely	VERB
easat-3052	218	38	less	less	ADV
easat-3052	218	39	on	on	ADP
easat-3052	218	40	debt	debt	NOUN
easat-3052	218	41	financing	financing	NOUN
easat-3052	218	42	due	due	ADJ
easat-3052	218	43	to	to	ADP
easat-3052	218	44	greater	great	ADJ
easat-3052	218	45	availability	availability	NOUN
easat-3052	218	46	of	of	ADP
easat-3052	218	47	financial	financial	ADJ
easat-3052	218	48	resources	resource	NOUN
easat-3052	218	49	in	in	ADP
easat-3052	218	50	the	the	DET
easat-3052	218	51	form	form	NOUN
easat-3052	218	52	of	of	ADP
easat-3052	218	53	liquidity	liquidity	NOUN
easat-3052	218	54	generated	generate	VERB
easat-3052	218	55	from	from	ADP
easat-3052	218	56	retained	retain	VERB
easat-3052	218	57	earnings	earning	NOUN
easat-3052	218	58	over	over	ADP
easat-3052	218	59	the	the	DET
easat-3052	218	60	years	year	NOUN
easat-3052	218	61	(	(	PUNCT
easat-3052	218	62	de	de	PROPN
easat-3052	218	63	jong	jong	PROPN
easat-3052	218	64	et	et	PROPN
easat-3052	218	65	al	al	PROPN
easat-3052	218	66	.	.	PROPN
easat-3052	218	67	,	,	PUNCT
easat-3052	218	68	2011	2011	NUM
easat-3052	218	69	)	)	PUNCT
easat-3052	218	70	.	.	PUNCT
easat-3052	219	1	h3o	h3o	ADJ
easat-3052	219	2	:	:	PUNCT
easat-3052	219	3	liquidity	liquidity	NOUN
easat-3052	219	4	is	be	AUX
easat-3052	219	5	not	not	PART
easat-3052	219	6	negatively	negatively	ADV
easat-3052	219	7	related	relate	VERB
easat-3052	219	8	to	to	ADP
easat-3052	219	9	total	total	ADJ
easat-3052	219	10	debt	debt	NOUN
easat-3052	219	11	(	(	PUNCT
easat-3052	219	12	bt	bt	NOUN
easat-3052	219	13	)	)	PUNCT
easat-3052	219	14	h3a	h3a	NOUN
easat-3052	219	15	:	:	PUNCT
easat-3052	219	16	liquidity	liquidity	NOUN
easat-3052	219	17	is	be	AUX
easat-3052	219	18	negatively	negatively	ADV
easat-3052	219	19	related	relate	VERB
easat-3052	219	20	to	to	ADP
easat-3052	219	21	total	total	ADJ
easat-3052	219	22	debt	debt	NOUN
easat-3052	219	23	(	(	PUNCT
easat-3052	219	24	bt	bt	NOUN
easat-3052	219	25	)	)	PUNCT
easat-3052	219	26	3.4.4	3.4.4	NUM
easat-3052	219	27	.	.	PUNCT
easat-3052	220	1	hypothesis	hypothesis	NOUN
easat-3052	220	2	4	4	NUM
easat-3052	220	3	:	:	PUNCT
easat-3052	220	4	firm	firm	ADJ
easat-3052	220	5	size	size	NOUN
easat-3052	220	6	since	since	SCONJ
easat-3052	220	7	large	large	ADJ
easat-3052	220	8	companies	company	NOUN
easat-3052	220	9	often	often	ADV
easat-3052	220	10	have	have	VERB
easat-3052	220	11	more	more	ADJ
easat-3052	220	12	diversification	diversification	NOUN
easat-3052	220	13	than	than	ADP
easat-3052	220	14	small	small	ADJ
easat-3052	220	15	companies	company	NOUN
easat-3052	220	16	,	,	PUNCT
easat-3052	220	17	they	they	PRON
easat-3052	220	18	should	should	AUX
easat-3052	220	19	have	have	VERB
easat-3052	220	20	fewer	few	ADJ
easat-3052	220	21	chances	chance	NOUN
easat-3052	220	22	of	of	ADP
easat-3052	220	23	facing	face	VERB
easat-3052	220	24	financial	financial	ADJ
easat-3052	220	25	problems	problem	NOUN
easat-3052	220	26	and	and	CCONJ
easat-3052	220	27	less	less	ADJ
easat-3052	220	28	volatility	volatility	NOUN
easat-3052	220	29	in	in	ADP
easat-3052	220	30	their	their	PRON
easat-3052	220	31	cash	cash	NOUN
easat-3052	220	32	flows	flow	NOUN
easat-3052	220	33	.	.	PUNCT
easat-3052	221	1	as	as	ADP
easat-3052	221	2	a	a	DET
easat-3052	221	3	result	result	NOUN
easat-3052	221	4	,	,	PUNCT
easat-3052	221	5	firm	firm	ADJ
easat-3052	221	6	size	size	NOUN
easat-3052	221	7	and	and	CCONJ
easat-3052	221	8	the	the	DET
easat-3052	221	9	probability	probability	NOUN
easat-3052	221	10	of	of	ADP
easat-3052	221	11	bankruptcy	bankruptcy	NOUN
easat-3052	221	12	should	should	AUX
easat-3052	221	13	be	be	AUX
easat-3052	221	14	negatively	negatively	ADV
easat-3052	221	15	correlated	correlate	VERB
easat-3052	221	16	(	(	PUNCT
easat-3052	221	17	titman	titman	NOUN
easat-3052	221	18	and	and	CCONJ
easat-3052	221	19	wessels	wessels	PROPN
easat-3052	221	20	,	,	PUNCT
easat-3052	221	21	1988	1988	NUM
easat-3052	221	22	;	;	PUNCT
easat-3052	221	23	rajan	rajan	PROPN
easat-3052	221	24	and	and	CCONJ
easat-3052	221	25	zingales	zingale	NOUN
easat-3052	221	26	,	,	PUNCT
easat-3052	221	27	1995	1995	NUM
easat-3052	221	28	)	)	PUNCT
easat-3052	221	29	.	.	PUNCT
easat-3052	222	1	due	due	ADP
easat-3052	222	2	to	to	ADP
easat-3052	222	3	the	the	DET
easat-3052	222	4	reduced	reduce	VERB
easat-3052	222	5	bankruptcy	bankruptcy	NOUN
easat-3052	222	6	costs	cost	NOUN
easat-3052	222	7	associated	associate	VERB
easat-3052	222	8	with	with	ADP
easat-3052	222	9	debt	debt	NOUN
easat-3052	222	10	,	,	PUNCT
easat-3052	222	11	larger	large	ADJ
easat-3052	222	12	firms	firm	NOUN
easat-3052	222	13	should	should	AUX
easat-3052	222	14	have	have	VERB
easat-3052	222	15	a	a	DET
easat-3052	222	16	higher	high	ADJ
easat-3052	222	17	debt	debt	NOUN
easat-3052	222	18	capacity	capacity	NOUN
easat-3052	222	19	than	than	ADP
easat-3052	222	20	smaller	small	ADJ
easat-3052	222	21	firms	firm	NOUN
easat-3052	222	22	.	.	PUNCT
easat-3052	223	1	h4o	h4o	NOUN
easat-3052	223	2	:	:	PUNCT
easat-3052	223	3	firm	firm	ADJ
easat-3052	223	4	size	size	NOUN
easat-3052	223	5	is	be	AUX
easat-3052	223	6	not	not	PART
easat-3052	223	7	positively	positively	ADV
easat-3052	223	8	related	relate	VERB
easat-3052	223	9	to	to	ADP
easat-3052	223	10	total	total	ADJ
easat-3052	223	11	debt	debt	NOUN
easat-3052	223	12	(	(	PUNCT
easat-3052	223	13	bt	bt	NOUN
easat-3052	223	14	)	)	PUNCT
easat-3052	223	15	h4a	h4a	NOUN
easat-3052	223	16	:	:	PUNCT
easat-3052	223	17	firm	firm	ADJ
easat-3052	223	18	size	size	NOUN
easat-3052	223	19	is	be	AUX
easat-3052	223	20	positively	positively	ADV
easat-3052	223	21	related	relate	VERB
easat-3052	223	22	to	to	ADP
easat-3052	223	23	total	total	ADJ
easat-3052	223	24	debt	debt	NOUN
easat-3052	223	25	(	(	PUNCT
easat-3052	223	26	bt	bt	NOUN
easat-3052	223	27	)	)	PUNCT
easat-3052	223	28	3.4.5	3.4.5	NUM
easat-3052	223	29	.	.	PUNCT
easat-3052	224	1	hypothesis	hypothesis	NOUN
easat-3052	224	2	5	5	NUM
easat-3052	224	3	:	:	PUNCT
easat-3052	224	4	financial	financial	ADJ
easat-3052	224	5	flexibility	flexibility	NOUN
easat-3052	224	6	a	a	DET
easat-3052	224	7	negative	negative	ADJ
easat-3052	224	8	relationship	relationship	NOUN
easat-3052	224	9	has	have	AUX
easat-3052	224	10	been	be	AUX
easat-3052	224	11	found	find	VERB
easat-3052	224	12	between	between	ADP
easat-3052	224	13	debt	debt	NOUN
easat-3052	224	14	ratios	ratio	NOUN
easat-3052	224	15	and	and	CCONJ
easat-3052	224	16	the	the	DET
easat-3052	224	17	cash	cash	NOUN
easat-3052	224	18	flow	flow	NOUN
easat-3052	224	19	variable	variable	NOUN
easat-3052	224	20	.	.	PUNCT
easat-3052	225	1	these	these	DET
easat-3052	225	2	findings	finding	NOUN
easat-3052	225	3	support	support	VERB
easat-3052	225	4	the	the	DET
easat-3052	225	5	conclusions	conclusion	NOUN
easat-3052	225	6	of	of	ADP
easat-3052	225	7	mira	mira	PROPN
easat-3052	225	8	and	and	CCONJ
easat-3052	225	9	garcia	garcia	PROPN
easat-3052	225	10	(	(	PUNCT
easat-3052	225	11	2003	2003	NUM
easat-3052	225	12	)	)	PUNCT
easat-3052	225	13	,	,	PUNCT
easat-3052	225	14	who	who	PRON
easat-3052	225	15	argued	argue	VERB
easat-3052	225	16	that	that	SCONJ
easat-3052	225	17	the	the	DET
easat-3052	225	18	pecking	pecking	NOUN
easat-3052	225	19	order	order	NOUN
easat-3052	225	20	theory	theory	NOUN
easat-3052	225	21	indicates	indicate	VERB
easat-3052	225	22	that	that	SCONJ
easat-3052	225	23	businesses	business	NOUN
easat-3052	225	24	with	with	ADP
easat-3052	225	25	higher	high	ADJ
easat-3052	225	26	revenue	revenue	NOUN
easat-3052	225	27	generation	generation	NOUN
easat-3052	225	28	tend	tend	VERB
easat-3052	225	29	to	to	PART
easat-3052	225	30	prefer	prefer	VERB
easat-3052	225	31	the	the	DET
easat-3052	225	32	use	use	NOUN
easat-3052	225	33	of	of	ADP
easat-3052	225	34	internal	internal	ADJ
easat-3052	225	35	funds	fund	NOUN
easat-3052	225	36	over	over	ADP
easat-3052	225	37	external	external	ADJ
easat-3052	225	38	financing	financing	NOUN
easat-3052	225	39	to	to	PART
easat-3052	225	40	fund	fund	VERB
easat-3052	225	41	their	their	PRON
easat-3052	225	42	investments	investment	NOUN
easat-3052	225	43	.	.	PUNCT
easat-3052	226	1	h5o	h5o	NOUN
easat-3052	226	2	:	:	PUNCT
easat-3052	226	3	the	the	DET
easat-3052	226	4	financial	financial	ADJ
easat-3052	226	5	flexibility	flexibility	NOUN
easat-3052	226	6	of	of	ADP
easat-3052	226	7	the	the	DET
easat-3052	226	8	firm	firm	NOUN
easat-3052	226	9	is	be	AUX
easat-3052	226	10	not	not	PART
easat-3052	226	11	negatively	negatively	ADV
easat-3052	226	12	related	relate	VERB
easat-3052	226	13	to	to	AUX
easat-3052	226	14	total	total	ADJ
easat-3052	226	15	debt	debt	NOUN
easat-3052	226	16	(	(	PUNCT
easat-3052	226	17	bt	bt	NOUN
easat-3052	226	18	)	)	PUNCT
easat-3052	226	19	h5a	h5a	NOUN
easat-3052	226	20	:	:	PUNCT
easat-3052	226	21	the	the	DET
easat-3052	226	22	financial	financial	ADJ
easat-3052	226	23	flexibility	flexibility	NOUN
easat-3052	226	24	of	of	ADP
easat-3052	226	25	the	the	DET
easat-3052	226	26	firm	firm	NOUN
easat-3052	226	27	is	be	AUX
easat-3052	226	28	negatively	negatively	ADV
easat-3052	226	29	related	relate	VERB
easat-3052	226	30	to	to	ADP
easat-3052	226	31	total	total	ADJ
easat-3052	226	32	debt	debt	NOUN
easat-3052	226	33	(	(	PUNCT
easat-3052	226	34	bt	bt	NOUN
easat-3052	226	35	)	)	PUNCT
easat-3052	226	36	3.4.6	3.4.6	NUM
easat-3052	226	37	.	.	PUNCT
easat-3052	227	1	hypothesis	hypothesis	NOUN
easat-3052	227	2	6	6	NUM
easat-3052	227	3	:	:	PUNCT
easat-3052	227	4	tax	tax	NOUN
easat-3052	227	5	benefit	benefit	NOUN
easat-3052	227	6	from	from	ADP
easat-3052	227	7	non	non	ADJ
easat-3052	227	8	-	-	NOUN
easat-3052	227	9	debt	debt	NOUN
easat-3052	227	10	expenses	expense	NOUN
easat-3052	227	11	the	the	DET
easat-3052	227	12	tax	tax	NOUN
easat-3052	227	13	benefit	benefit	NOUN
easat-3052	227	14	from	from	ADP
easat-3052	227	15	non	non	ADJ
easat-3052	227	16	-	-	ADJ
easat-3052	227	17	debt	debt	ADJ
easat-3052	227	18	expenses	expense	NOUN
easat-3052	227	19	refers	refer	VERB
easat-3052	227	20	to	to	ADP
easat-3052	227	21	tax	tax	NOUN
easat-3052	227	22	deductions	deduction	NOUN
easat-3052	227	23	for	for	ADP
easat-3052	227	24	investment	investment	NOUN
easat-3052	227	25	credits	credit	NOUN
easat-3052	227	26	and	and	CCONJ
easat-3052	227	27	depreciation	depreciation	NOUN
easat-3052	227	28	against	against	ADP
easat-3052	227	29	taxable	taxable	ADJ
easat-3052	227	30	income	income	NOUN
easat-3052	227	31	for	for	ADP
easat-3052	227	32	the	the	DET
easat-3052	227	33	purpose	purpose	NOUN
easat-3052	227	34	of	of	ADP
easat-3052	227	35	fiscal	fiscal	ADJ
easat-3052	227	36	profit	profit	NOUN
easat-3052	227	37	taxation	taxation	NOUN
easat-3052	227	38	.	.	PUNCT
easat-3052	228	1	according	accord	VERB
easat-3052	228	2	to	to	ADP
easat-3052	228	3	deangelo	deangelo	PROPN
easat-3052	228	4	and	and	CCONJ
easat-3052	228	5	masulis	masulis	PROPN
easat-3052	228	6	(	(	PUNCT
easat-3052	228	7	1980	1980	NUM
easat-3052	228	8	)	)	PUNCT
easat-3052	228	9	,	,	PUNCT
easat-3052	228	10	a	a	DET
easat-3052	228	11	company	company	NOUN
easat-3052	228	12	with	with	ADP
easat-3052	228	13	a	a	DET
easat-3052	228	14	greater	great	ADJ
easat-3052	228	15	tax	tax	NOUN
easat-3052	228	16	benefit	benefit	NOUN
easat-3052	228	17	from	from	ADP
easat-3052	228	18	non	non	ADJ
easat-3052	228	19	-	-	ADJ
easat-3052	228	20	debt	debt	ADJ
easat-3052	228	21	expenses	expense	NOUN
easat-3052	228	22	is	be	AUX
easat-3052	228	23	expected	expect	VERB
easat-3052	228	24	to	to	PART
easat-3052	228	25	use	use	VERB
easat-3052	228	26	less	less	ADJ
easat-3052	228	27	debt	debt	NOUN
easat-3052	228	28	,	,	PUNCT
easat-3052	228	29	holding	hold	VERB
easat-3052	228	30	all	all	DET
easat-3052	228	31	other	other	ADJ
easat-3052	228	32	conditions	condition	NOUN
easat-3052	228	33	constant	constant	ADJ
easat-3052	228	34	.	.	PUNCT
easat-3052	229	1	h6o	h6o	PRON
easat-3052	229	2	:	:	PUNCT
easat-3052	229	3	the	the	DET
easat-3052	229	4	tax	tax	NOUN
easat-3052	229	5	benefit	benefit	NOUN
easat-3052	229	6	from	from	ADP
easat-3052	229	7	non	non	ADJ
easat-3052	229	8	-	-	ADJ
easat-3052	229	9	debt	debt	ADJ
easat-3052	229	10	expenses	expense	NOUN
easat-3052	229	11	is	be	AUX
easat-3052	229	12	not	not	PART
easat-3052	229	13	negatively	negatively	ADV
easat-3052	229	14	related	relate	VERB
easat-3052	229	15	to	to	ADP
easat-3052	229	16	total	total	ADJ
easat-3052	229	17	debt	debt	NOUN
easat-3052	229	18	(	(	PUNCT
easat-3052	229	19	bt	bt	NOUN
easat-3052	229	20	)	)	PUNCT
easat-3052	229	21	.	.	PUNCT
easat-3052	230	1	h6a	h6a	NOUN
easat-3052	230	2	:	:	PUNCT
easat-3052	230	3	the	the	DET
easat-3052	230	4	tax	tax	NOUN
easat-3052	230	5	benefit	benefit	NOUN
easat-3052	230	6	from	from	ADP
easat-3052	230	7	non	non	ADJ
easat-3052	230	8	-	-	ADJ
easat-3052	230	9	debt	debt	ADJ
easat-3052	230	10	expenses	expense	NOUN
easat-3052	230	11	is	be	AUX
easat-3052	230	12	negatively	negatively	ADV
easat-3052	230	13	related	relate	VERB
easat-3052	230	14	to	to	ADP
easat-3052	230	15	total	total	ADJ
easat-3052	230	16	debt	debt	NOUN
easat-3052	230	17	(	(	PUNCT
easat-3052	230	18	bt	bt	NOUN
easat-3052	230	19	)	)	PUNCT
easat-3052	230	20	.	.	PUNCT
easat-3052	231	1	3.4.7	3.4.7	X
easat-3052	231	2	.	.	X
easat-3052	231	3	hypothesis	hypothesis	NOUN
easat-3052	231	4	7	7	NUM
easat-3052	231	5	:	:	PUNCT
easat-3052	231	6	growth	growth	NOUN
easat-3052	231	7	opportunities	opportunitie	VERB
easat-3052	231	8	a	a	DET
easat-3052	231	9	key	key	ADJ
easat-3052	231	10	factor	factor	NOUN
easat-3052	231	11	to	to	PART
easat-3052	231	12	consider	consider	VERB
easat-3052	231	13	in	in	ADP
easat-3052	231	14	determining	determine	VERB
easat-3052	231	15	capital	capital	NOUN
easat-3052	231	16	structure	structure	NOUN
easat-3052	231	17	decisions	decision	NOUN
easat-3052	231	18	is	be	AUX
easat-3052	231	19	growth	growth	NOUN
easat-3052	231	20	opportunities	opportunity	NOUN
easat-3052	231	21	(	(	PUNCT
easat-3052	231	22	titman	titman	NOUN
easat-3052	231	23	and	and	CCONJ
easat-3052	231	24	wessels	wessels	PROPN
easat-3052	231	25	,	,	PUNCT
easat-3052	231	26	1988	1988	NUM
easat-3052	231	27	;	;	PUNCT
easat-3052	232	1	michaelas	michaelas	ADP
easat-3052	232	2	et	et	PROPN
easat-3052	232	3	al	al	PROPN
easat-3052	232	4	.	.	PROPN
easat-3052	232	5	,	,	PUNCT
easat-3052	232	6	1999	1999	NUM
easat-3052	232	7	;	;	PUNCT
easat-3052	232	8	sogorb	sogorb	NOUN
easat-3052	232	9	-	-	PUNCT
easat-3052	232	10	mira	mira	NOUN
easat-3052	232	11	,	,	PUNCT
easat-3052	232	12	2005	2005	NUM
easat-3052	232	13	)	)	PUNCT
easat-3052	233	1	[	[	X
easat-3052	233	2	29,30	29,30	NUM
easat-3052	233	3	]	]	PUNCT
easat-3052	233	4	.	.	PUNCT
easat-3052	234	1	according	accord	VERB
easat-3052	234	2	to	to	ADP
easat-3052	234	3	the	the	DET
easat-3052	234	4	pecking	pecking	NOUN
easat-3052	234	5	order	order	NOUN
easat-3052	234	6	theory	theory	NOUN
easat-3052	234	7	(	(	PUNCT
easat-3052	234	8	pot	pot	NOUN
easat-3052	234	9	)	)	PUNCT
easat-3052	234	10	(	(	PUNCT
easat-3052	234	11	gomes	gome	NOUN
easat-3052	234	12	and	and	CCONJ
easat-3052	234	13	leal	leal	ADJ
easat-3052	234	14	,	,	PUNCT
easat-3052	234	15	2001	2001	NUM
easat-3052	234	16	)	)	PUNCT
easat-3052	234	17	,	,	PUNCT
easat-3052	234	18	the	the	DET
easat-3052	234	19	level	level	NOUN
easat-3052	234	20	of	of	ADP
easat-3052	234	21	growth	growth	NOUN
easat-3052	234	22	and	and	CCONJ
easat-3052	234	23	the	the	DET
easat-3052	234	24	use	use	NOUN
easat-3052	234	25	of	of	ADP
easat-3052	234	26	debt	debt	NOUN
easat-3052	234	27	by	by	ADP
easat-3052	234	28	businesses	business	NOUN
easat-3052	234	29	should	should	AUX
easat-3052	234	30	be	be	AUX
easat-3052	234	31	positively	positively	ADV
easat-3052	234	32	correlated	correlate	VERB
easat-3052	234	33	.	.	PUNCT
easat-3052	235	1	h7o	h7o	X
easat-3052	235	2	:	:	PUNCT
easat-3052	235	3	growth	growth	NOUN
easat-3052	235	4	opportunities	opportunity	NOUN
easat-3052	235	5	are	be	AUX
easat-3052	235	6	not	not	PART
easat-3052	235	7	positively	positively	ADV
easat-3052	235	8	correlated	correlate	VERB
easat-3052	235	9	with	with	ADP
easat-3052	235	10	total	total	ADJ
easat-3052	235	11	debt	debt	NOUN
easat-3052	235	12	(	(	PUNCT
easat-3052	235	13	bt	bt	NOUN
easat-3052	235	14	)	)	PUNCT
easat-3052	235	15	h7a	h7a	PROPN
easat-3052	235	16	:	:	PUNCT
easat-3052	236	1	growth	growth	NOUN
easat-3052	236	2	opportunities	opportunity	NOUN
easat-3052	236	3	are	be	AUX
easat-3052	236	4	positively	positively	ADV
easat-3052	236	5	correlated	correlate	VERB
easat-3052	236	6	with	with	ADP
easat-3052	236	7	total	total	ADJ
easat-3052	236	8	debt	debt	NOUN
easat-3052	236	9	(	(	PUNCT
easat-3052	236	10	bt	bt	NOUN
easat-3052	236	11	)	)	PUNCT
easat-3052	236	12	4893	4893	NUM
easat-3052	236	13	edelweiss	edelweiss	PROPN
easat-3052	236	14	applied	apply	VERB
easat-3052	236	15	science	science	NOUN
easat-3052	236	16	and	and	CCONJ
easat-3052	236	17	technology	technology	NOUN
easat-3052	236	18	issn	issn	PROPN
easat-3052	236	19	:	:	PUNCT
easat-3052	236	20	2576	2576	NUM
easat-3052	236	21	-	-	SYM
easat-3052	236	22	8484	8484	NUM
easat-3052	236	23	vol	vol	NOUN
easat-3052	236	24	.	.	PROPN
easat-3052	237	1	8	8	NUM
easat-3052	237	2	,	,	PUNCT
easat-3052	237	3	no	no	INTJ
easat-3052	237	4	.	.	NOUN
easat-3052	238	1	6	6	NUM
easat-3052	238	2	:	:	SYM
easat-3052	238	3	4884	4884	NUM
easat-3052	238	4	-	-	SYM
easat-3052	238	5	4902	4902	NUM
easat-3052	238	6	,	,	PUNCT
easat-3052	238	7	2024	2024	NUM
easat-3052	238	8	doi	doi	NOUN
easat-3052	238	9	:	:	PUNCT
easat-3052	238	10	10.55214/25768484.v8i6.3052	10.55214/25768484.v8i6.3052	NUM
easat-3052	238	11	©	©	ADP
easat-3052	238	12	2024	2024	NUM
easat-3052	238	13	by	by	ADP
easat-3052	238	14	the	the	DET
easat-3052	238	15	author	author	NOUN
easat-3052	238	16	;	;	PUNCT
easat-3052	238	17	licensee	licensee	PROPN
easat-3052	238	18	learning	learn	VERB
easat-3052	238	19	gate	gate	PROPN
easat-3052	238	20	3.4.8	3.4.8	NUM
easat-3052	238	21	.	.	PUNCT
easat-3052	239	1	hypothesis	hypothesis	NOUN
easat-3052	239	2	8	8	NUM
easat-3052	239	3	the	the	DET
easat-3052	239	4	pecking	pecking	NOUN
easat-3052	239	5	order	order	NOUN
easat-3052	239	6	theory	theory	NOUN
easat-3052	239	7	states	state	VERB
easat-3052	239	8	that	that	SCONJ
easat-3052	239	9	a	a	DET
easat-3052	239	10	company	company	NOUN
easat-3052	239	11	's	's	PART
easat-3052	239	12	ability	ability	NOUN
easat-3052	239	13	to	to	PART
easat-3052	239	14	avoid	avoid	VERB
easat-3052	239	15	debt	debt	NOUN
easat-3052	239	16	financing	financing	NOUN
easat-3052	239	17	increases	increase	NOUN
easat-3052	239	18	with	with	ADP
easat-3052	239	19	its	its	PRON
easat-3052	239	20	age	age	NOUN
easat-3052	239	21	,	,	PUNCT
easat-3052	239	22	as	as	SCONJ
easat-3052	239	23	it	it	PRON
easat-3052	239	24	has	have	AUX
easat-3052	239	25	had	have	VERB
easat-3052	239	26	more	more	ADJ
easat-3052	239	27	time	time	NOUN
easat-3052	239	28	to	to	PART
easat-3052	239	29	accumulate	accumulate	VERB
easat-3052	239	30	retained	retain	VERB
easat-3052	239	31	earnings	earning	NOUN
easat-3052	239	32	(	(	PUNCT
easat-3052	239	33	mac	mac	PROPN
easat-3052	239	34	an	an	DET
easat-3052	239	35	bhaird	bhaird	NOUN
easat-3052	239	36	and	and	CCONJ
easat-3052	239	37	lucey	lucey	PROPN
easat-3052	239	38	,	,	PUNCT
easat-3052	239	39	2010	2010	NUM
easat-3052	239	40	,	,	PUNCT
easat-3052	239	41	2014	2014	NUM
easat-3052	239	42	;	;	PUNCT
easat-3052	239	43	myers	myer	NOUN
easat-3052	239	44	,	,	PUNCT
easat-3052	239	45	1984	1984	NUM
easat-3052	239	46	)	)	PUNCT
easat-3052	239	47	.	.	PUNCT
easat-3052	240	1	additionally	additionally	ADV
easat-3052	240	2	,	,	PUNCT
easat-3052	240	3	research	research	NOUN
easat-3052	240	4	has	have	AUX
easat-3052	240	5	demonstrated	demonstrate	VERB
easat-3052	240	6	that	that	SCONJ
easat-3052	240	7	younger	young	ADJ
easat-3052	240	8	businesses	business	NOUN
easat-3052	240	9	are	be	AUX
easat-3052	240	10	more	more	ADV
easat-3052	240	11	likely	likely	ADJ
easat-3052	240	12	than	than	SCONJ
easat-3052	240	13	older	old	ADJ
easat-3052	240	14	ones	one	NOUN
easat-3052	240	15	to	to	PART
easat-3052	240	16	use	use	VERB
easat-3052	240	17	short	short	ADJ
easat-3052	240	18	-	-	PUNCT
easat-3052	240	19	term	term	NOUN
easat-3052	240	20	debt	debt	NOUN
easat-3052	240	21	std	std	NOUN
easat-3052	240	22	(	(	PUNCT
easat-3052	240	23	bash	bash	NOUN
easat-3052	240	24	)	)	PUNCT
easat-3052	240	25	and	and	CCONJ
easat-3052	240	26	have	have	VERB
easat-3052	240	27	less	less	ADJ
easat-3052	240	28	long	long	ADJ
easat-3052	240	29	-	-	PUNCT
easat-3052	240	30	term	term	NOUN
easat-3052	240	31	debt	debt	PROPN
easat-3052	240	32	ltd	ltd	PROPN
easat-3052	240	33	(	(	PUNCT
easat-3052	240	34	bagj	bagj	PROPN
easat-3052	240	35	)	)	PUNCT
easat-3052	240	36	(	(	PUNCT
easat-3052	240	37	serrasqueiro	serrasqueiro	NOUN
easat-3052	240	38	and	and	CCONJ
easat-3052	240	39	nunes	nune	NOUN
easat-3052	240	40	,	,	PUNCT
easat-3052	240	41	2012	2012	NUM
easat-3052	240	42	;	;	PUNCT
easat-3052	240	43	yazdanfar	yazdanfar	ADV
easat-3052	240	44	and	and	CCONJ
easat-3052	240	45	śhman	śhman	ADJ
easat-3052	240	46	,	,	PUNCT
easat-3052	240	47	2016	2016	NUM
easat-3052	240	48	)	)	PUNCT
easat-3052	240	49	.	.	PUNCT
easat-3052	241	1	(	(	PUNCT
easat-3052	241	2	sánchez	sánchez	PROPN
easat-3052	241	3	vidal	vidal	PROPN
easat-3052	241	4	and	and	CCONJ
easat-3052	241	5	martin	martin	PROPN
easat-3052	241	6	ugedo	ugedo	PROPN
easat-3052	241	7	,	,	PUNCT
easat-3052	241	8	2005	2005	NUM
easat-3052	241	9	,	,	PUNCT
easat-3052	241	10	2012	2012	NUM
easat-3052	241	11	)	)	PUNCT
easat-3052	241	12	.	.	PUNCT
easat-3052	242	1	as	as	ADP
easat-3052	242	2	a	a	DET
easat-3052	242	3	result	result	NOUN
easat-3052	242	4	,	,	PUNCT
easat-3052	242	5	it	it	PRON
easat-3052	242	6	appears	appear	VERB
easat-3052	242	7	that	that	SCONJ
easat-3052	242	8	older	old	ADJ
easat-3052	242	9	firms	firm	NOUN
easat-3052	242	10	are	be	AUX
easat-3052	242	11	better	well	ADJ
easat-3052	242	12	able	able	ADJ
easat-3052	242	13	to	to	PART
easat-3052	242	14	take	take	VERB
easat-3052	242	15	on	on	ADP
easat-3052	242	16	long	long	ADJ
easat-3052	242	17	-	-	PUNCT
easat-3052	242	18	term	term	NOUN
easat-3052	242	19	debt	debt	NOUN
easat-3052	242	20	,	,	PUNCT
easat-3052	242	21	while	while	SCONJ
easat-3052	242	22	younger	young	ADJ
easat-3052	242	23	ones	one	NOUN
easat-3052	242	24	are	be	AUX
easat-3052	242	25	more	more	ADV
easat-3052	242	26	dependent	dependent	ADJ
easat-3052	242	27	on	on	ADP
easat-3052	242	28	short	short	ADJ
easat-3052	242	29	-	-	PUNCT
easat-3052	242	30	term	term	NOUN
easat-3052	242	31	debt	debt	NOUN
easat-3052	242	32	.	.	PUNCT
easat-3052	243	1	h8o	h8o	PROPN
easat-3052	243	2	:	:	PUNCT
easat-3052	243	3	the	the	DET
easat-3052	243	4	age	age	NOUN
easat-3052	243	5	of	of	ADP
easat-3052	243	6	the	the	DET
easat-3052	243	7	firm	firm	NOUN
easat-3052	243	8	is	be	AUX
easat-3052	243	9	not	not	PART
easat-3052	243	10	positively	positively	ADV
easat-3052	243	11	correlated	correlate	VERB
easat-3052	243	12	with	with	ADP
easat-3052	243	13	total	total	ADJ
easat-3052	243	14	debt	debt	NOUN
easat-3052	243	15	(	(	PUNCT
easat-3052	243	16	bt	bt	NOUN
easat-3052	243	17	)	)	PUNCT
easat-3052	243	18	h8a	h8a	PROPN
easat-3052	243	19	:	:	PUNCT
easat-3052	243	20	the	the	DET
easat-3052	243	21	age	age	NOUN
easat-3052	243	22	of	of	ADP
easat-3052	243	23	the	the	DET
easat-3052	243	24	firm	firm	NOUN
easat-3052	243	25	is	be	AUX
easat-3052	243	26	positively	positively	ADV
easat-3052	243	27	correlated	correlate	VERB
easat-3052	243	28	with	with	ADP
easat-3052	243	29	total	total	ADJ
easat-3052	243	30	debt	debt	NOUN
easat-3052	243	31	(	(	PUNCT
easat-3052	243	32	bt	bt	NOUN
easat-3052	243	33	)	)	PUNCT
easat-3052	243	34	4	4	NUM
easat-3052	243	35	.	.	NOUN
easat-3052	243	36	results	result	NOUN
easat-3052	243	37	and	and	CCONJ
easat-3052	243	38	discussion	discussion	NOUN
easat-3052	243	39	4.1	4.1	NUM
easat-3052	243	40	.	.	PUNCT
easat-3052	244	1	descriptive	descriptive	ADJ
easat-3052	244	2	statistics	statistic	NOUN
easat-3052	244	3	in	in	ADP
easat-3052	244	4	the	the	DET
easat-3052	244	5	table	table	NOUN
easat-3052	244	6	4	4	NUM
easat-3052	244	7	below	below	ADV
easat-3052	244	8	,	,	PUNCT
easat-3052	244	9	it	it	PRON
easat-3052	244	10	shows	show	VERB
easat-3052	244	11	how	how	SCONJ
easat-3052	244	12	the	the	DET
easat-3052	244	13	capital	capital	NOUN
easat-3052	244	14	structure	structure	NOUN
easat-3052	244	15	of	of	ADP
easat-3052	244	16	the	the	DET
easat-3052	244	17	75	75	NUM
easat-3052	244	18	companies	company	NOUN
easat-3052	244	19	has	have	AUX
easat-3052	244	20	changed	change	VERB
easat-3052	244	21	during	during	ADP
easat-3052	244	22	the	the	DET
easat-3052	244	23	period	period	NOUN
easat-3052	244	24	from	from	ADP
easat-3052	244	25	2019	2019	NUM
easat-3052	244	26	to	to	ADP
easat-3052	244	27	2023	2023	NUM
easat-3052	244	28	.	.	PUNCT
easat-3052	245	1	table	table	NOUN
easat-3052	245	2	4	4	NUM
easat-3052	245	3	.	.	PUNCT
easat-3052	245	4	capital	capital	NOUN
easat-3052	245	5	structure	structure	NOUN
easat-3052	245	6	of	of	ADP
easat-3052	245	7	firms	firm	NOUN
easat-3052	245	8	.	.	PUNCT
easat-3052	246	1	years	year	NOUN
easat-3052	246	2	bt	bt	INTJ
easat-3052	246	3	(	(	PUNCT
easat-3052	246	4	td	td	NOUN
easat-3052	246	5	)	)	PUNCT
easat-3052	246	6	bagj	bagj	PROPN
easat-3052	246	7	(	(	PUNCT
easat-3052	246	8	ltd	ltd	ADJ
easat-3052	246	9	)	)	PUNCT
easat-3052	246	10	bash	bash	NOUN
easat-3052	246	11	(	(	PUNCT
easat-3052	246	12	std	std	NOUN
easat-3052	246	13	)	)	PUNCT
easat-3052	246	14	2019	2019	NUM
easat-3052	246	15	0.5534	0.5534	NUM
easat-3052	246	16	0.1508	0.1508	NUM
easat-3052	246	17	0.4027	0.4027	NUM
easat-3052	246	18	2020	2020	NUM
easat-3052	246	19	0.5541	0.5541	NUM
easat-3052	246	20	0.1500	0.1500	NUM
easat-3052	246	21	0.4041	0.4041	NUM
easat-3052	246	22	2021	2021	NUM
easat-3052	246	23	0.5548	0.5548	NUM
easat-3052	246	24	0.1496	0.1496	NUM
easat-3052	246	25	0.4052	0.4052	NUM
easat-3052	246	26	2022	2022	NUM
easat-3052	246	27	0.5558	0.5558	NUM
easat-3052	246	28	0.1494	0.1494	NUM
easat-3052	246	29	0.4063	0.4063	NUM
easat-3052	246	30	2023	2023	NUM
easat-3052	246	31	0.5568	0.5568	NUM
easat-3052	246	32	0.1493	0.1493	NUM
easat-3052	246	33	0.4074	0.4074	NUM
easat-3052	246	34	mean	mean	NOUN
easat-3052	246	35	value	value	NOUN
easat-3052	246	36	0.555	0.555	NUM
easat-3052	246	37	0.150	0.150	NUM
easat-3052	246	38	0.405	0.405	NUM
easat-3052	246	39	table	table	NOUN
easat-3052	246	40	4	4	NUM
easat-3052	246	41	shows	show	VERB
easat-3052	246	42	the	the	DET
easat-3052	246	43	evolution	evolution	NOUN
easat-3052	246	44	of	of	ADP
easat-3052	246	45	the	the	DET
easat-3052	246	46	capital	capital	NOUN
easat-3052	246	47	structure	structure	NOUN
easat-3052	246	48	of	of	ADP
easat-3052	246	49	the	the	DET
easat-3052	246	50	sample	sample	NOUN
easat-3052	246	51	according	accord	VERB
easat-3052	246	52	to	to	ADP
easat-3052	246	53	three	three	NUM
easat-3052	246	54	measurements	measurement	NOUN
easat-3052	246	55	of	of	ADP
easat-3052	246	56	capital	capital	NOUN
easat-3052	246	57	structure	structure	NOUN
easat-3052	246	58	:	:	PUNCT
easat-3052	246	59	the	the	DET
easat-3052	246	60	short	short	ADJ
easat-3052	246	61	-	-	PUNCT
easat-3052	246	62	term	term	NOUN
easat-3052	246	63	debt	debt	NOUN
easat-3052	246	64	ratio	ratio	NOUN
easat-3052	246	65	,	,	PUNCT
easat-3052	246	66	the	the	DET
easat-3052	246	67	long	long	ADJ
easat-3052	246	68	-	-	PUNCT
easat-3052	246	69	term	term	NOUN
easat-3052	246	70	debt	debt	NOUN
easat-3052	246	71	ratio	ratio	NOUN
easat-3052	246	72	,	,	PUNCT
easat-3052	246	73	and	and	CCONJ
easat-3052	246	74	the	the	DET
easat-3052	246	75	total	total	ADJ
easat-3052	246	76	debt	debt	NOUN
easat-3052	246	77	ratio	ratio	NOUN
easat-3052	246	78	.	.	PUNCT
easat-3052	247	1	the	the	DET
easat-3052	247	2	average	average	ADJ
easat-3052	247	3	value	value	NOUN
easat-3052	247	4	of	of	ADP
easat-3052	247	5	the	the	DET
easat-3052	247	6	short	short	ADJ
easat-3052	247	7	-	-	PUNCT
easat-3052	247	8	term	term	NOUN
easat-3052	247	9	debt	debt	NOUN
easat-3052	247	10	ratio	ratio	NOUN
easat-3052	247	11	is	be	AUX
easat-3052	247	12	40.5	40.5	NUM
easat-3052	247	13	percent	percent	NOUN
easat-3052	247	14	,	,	PUNCT
easat-3052	247	15	the	the	DET
easat-3052	247	16	average	average	ADJ
easat-3052	247	17	value	value	NOUN
easat-3052	247	18	of	of	ADP
easat-3052	247	19	the	the	DET
easat-3052	247	20	long	long	ADJ
easat-3052	247	21	-	-	PUNCT
easat-3052	247	22	term	term	NOUN
easat-3052	247	23	debt	debt	NOUN
easat-3052	247	24	ratio	ratio	NOUN
easat-3052	247	25	is	be	AUX
easat-3052	247	26	15	15	NUM
easat-3052	247	27	percent	percent	NOUN
easat-3052	247	28	,	,	PUNCT
easat-3052	247	29	and	and	CCONJ
easat-3052	247	30	the	the	DET
easat-3052	247	31	total	total	ADJ
easat-3052	247	32	debt	debt	NOUN
easat-3052	247	33	ratio	ratio	NOUN
easat-3052	247	34	is	be	AUX
easat-3052	247	35	55.5	55.5	NUM
easat-3052	247	36	percent	percent	NOUN
easat-3052	247	37	.	.	PUNCT
easat-3052	248	1	the	the	DET
easat-3052	248	2	sample	sample	NOUN
easat-3052	248	3	firms	firm	NOUN
easat-3052	248	4	used	use	VERB
easat-3052	248	5	more	more	ADJ
easat-3052	248	6	short	short	ADJ
easat-3052	248	7	-	-	PUNCT
easat-3052	248	8	term	term	NOUN
easat-3052	248	9	debt	debt	NOUN
easat-3052	248	10	in	in	ADP
easat-3052	248	11	2023	2023	NUM
easat-3052	248	12	,	,	PUNCT
easat-3052	248	13	as	as	SCONJ
easat-3052	248	14	the	the	DET
easat-3052	248	15	ratio	ratio	NOUN
easat-3052	248	16	of	of	ADP
easat-3052	248	17	short	short	ADJ
easat-3052	248	18	-	-	PUNCT
easat-3052	248	19	term	term	NOUN
easat-3052	248	20	debt	debt	NOUN
easat-3052	248	21	to	to	ADP
easat-3052	248	22	total	total	ADJ
easat-3052	248	23	assets	asset	NOUN
easat-3052	248	24	is	be	AUX
easat-3052	248	25	40.74	40.74	NUM
easat-3052	248	26	percent	percent	NOUN
easat-3052	248	27	.	.	PUNCT
easat-3052	249	1	on	on	ADP
easat-3052	249	2	the	the	DET
easat-3052	249	3	other	other	ADJ
easat-3052	249	4	hand	hand	NOUN
easat-3052	249	5	,	,	PUNCT
easat-3052	249	6	the	the	DET
easat-3052	249	7	long	long	ADJ
easat-3052	249	8	-	-	PUNCT
easat-3052	249	9	term	term	NOUN
easat-3052	249	10	debt	debt	NOUN
easat-3052	249	11	ratio	ratio	NOUN
easat-3052	249	12	is	be	AUX
easat-3052	249	13	highest	high	ADJ
easat-3052	249	14	in	in	ADP
easat-3052	249	15	2019	2019	NUM
easat-3052	249	16	at	at	ADP
easat-3052	249	17	15.08	15.08	NUM
easat-3052	249	18	percent	percent	NOUN
easat-3052	249	19	.	.	PUNCT
easat-3052	250	1	meanwhile	meanwhile	ADV
easat-3052	250	2	,	,	PUNCT
easat-3052	250	3	the	the	DET
easat-3052	250	4	highest	high	ADJ
easat-3052	250	5	total	total	ADJ
easat-3052	250	6	debt	debt	NOUN
easat-3052	250	7	value	value	NOUN
easat-3052	250	8	is	be	AUX
easat-3052	250	9	in	in	ADP
easat-3052	250	10	2023	2023	NUM
easat-3052	250	11	at	at	ADP
easat-3052	250	12	55.68	55.68	NUM
easat-3052	250	13	percent	percent	NOUN
easat-3052	250	14	.	.	PUNCT
easat-3052	251	1	table	table	NOUN
easat-3052	251	2	4	4	NUM
easat-3052	251	3	shows	show	VERB
easat-3052	251	4	the	the	DET
easat-3052	251	5	evolution	evolution	NOUN
easat-3052	251	6	of	of	ADP
easat-3052	251	7	bt	bt	PROPN
easat-3052	251	8	,	,	PUNCT
easat-3052	251	9	bagj	bagj	NOUN
easat-3052	251	10	,	,	PUNCT
easat-3052	251	11	and	and	CCONJ
easat-3052	251	12	bash	bash	VERB
easat-3052	251	13	for	for	ADP
easat-3052	251	14	the	the	DET
easat-3052	251	15	entire	entire	ADJ
easat-3052	251	16	sample	sample	NOUN
easat-3052	251	17	during	during	ADP
easat-3052	251	18	the	the	DET
easat-3052	251	19	period	period	NOUN
easat-3052	251	20	20192023	20192023	NUM
easat-3052	251	21	.	.	PUNCT
easat-3052	252	1	as	as	SCONJ
easat-3052	252	2	can	can	AUX
easat-3052	252	3	be	be	AUX
easat-3052	252	4	seen	see	VERB
easat-3052	252	5	from	from	ADP
easat-3052	252	6	the	the	DET
easat-3052	252	7	figure	figure	NOUN
easat-3052	252	8	above	above	ADV
easat-3052	252	9	,	,	PUNCT
easat-3052	252	10	the	the	DET
easat-3052	252	11	capital	capital	NOUN
easat-3052	252	12	structure	structure	NOUN
easat-3052	252	13	is	be	AUX
easat-3052	252	14	stable	stable	ADJ
easat-3052	252	15	with	with	ADP
easat-3052	252	16	a	a	DET
easat-3052	252	17	slight	slight	ADJ
easat-3052	252	18	increase	increase	NOUN
easat-3052	252	19	in	in	ADP
easat-3052	252	20	bash	bash	NOUN
easat-3052	252	21	,	,	PUNCT
easat-3052	252	22	followed	follow	VERB
easat-3052	252	23	by	by	ADP
easat-3052	252	24	a	a	DET
easat-3052	252	25	slight	slight	ADJ
easat-3052	252	26	decline	decline	NOUN
easat-3052	252	27	in	in	ADP
easat-3052	252	28	bagj	bagj	NOUN
easat-3052	252	29	and	and	CCONJ
easat-3052	252	30	a	a	DET
easat-3052	252	31	small	small	ADJ
easat-3052	252	32	increase	increase	NOUN
easat-3052	252	33	in	in	ADP
easat-3052	252	34	bt	bt	NOUN
easat-3052	252	35	.	.	PUNCT
easat-3052	253	1	in	in	ADP
easat-3052	253	2	the	the	DET
easat-3052	253	3	figure	figure	NOUN
easat-3052	253	4	1	1	NUM
easat-3052	253	5	below	below	ADV
easat-3052	253	6	,	,	PUNCT
easat-3052	253	7	it	it	PRON
easat-3052	253	8	shows	show	VERB
easat-3052	253	9	how	how	SCONJ
easat-3052	253	10	the	the	DET
easat-3052	253	11	capital	capital	NOUN
easat-3052	253	12	structure	structure	NOUN
easat-3052	253	13	of	of	ADP
easat-3052	253	14	the	the	DET
easat-3052	253	15	75	75	NUM
easat-3052	253	16	companies	company	NOUN
easat-3052	253	17	has	have	AUX
easat-3052	253	18	changed	change	VERB
easat-3052	253	19	during	during	ADP
easat-3052	253	20	the	the	DET
easat-3052	253	21	period	period	NOUN
easat-3052	253	22	from	from	ADP
easat-3052	253	23	2019	2019	NUM
easat-3052	253	24	to	to	ADP
easat-3052	253	25	2023	2023	NUM
easat-3052	253	26	.	.	PUNCT
easat-3052	254	1	4894	4894	NUM
easat-3052	254	2	edelweiss	edelweiss	PROPN
easat-3052	254	3	applied	apply	VERB
easat-3052	254	4	science	science	NOUN
easat-3052	254	5	and	and	CCONJ
easat-3052	254	6	technology	technology	NOUN
easat-3052	254	7	issn	issn	PROPN
easat-3052	254	8	:	:	PUNCT
easat-3052	254	9	2576	2576	NUM
easat-3052	254	10	-	-	SYM
easat-3052	254	11	8484	8484	NUM
easat-3052	254	12	vol	vol	NOUN
easat-3052	254	13	.	.	PROPN
easat-3052	254	14	8	8	NUM
easat-3052	254	15	,	,	PUNCT
easat-3052	254	16	no	no	INTJ
easat-3052	254	17	.	.	NOUN
easat-3052	255	1	6	6	NUM
easat-3052	255	2	:	:	SYM
easat-3052	255	3	4884	4884	NUM
easat-3052	255	4	-	-	SYM
easat-3052	255	5	4902	4902	NUM
easat-3052	255	6	,	,	PUNCT
easat-3052	255	7	2024	2024	NUM
easat-3052	255	8	doi	doi	NOUN
easat-3052	255	9	:	:	PUNCT
easat-3052	255	10	10.55214/25768484.v8i6.3052	10.55214/25768484.v8i6.3052	NUM
easat-3052	255	11	©	©	ADP
easat-3052	255	12	2024	2024	NUM
easat-3052	255	13	by	by	ADP
easat-3052	255	14	the	the	DET
easat-3052	255	15	author	author	NOUN
easat-3052	255	16	;	;	PUNCT
easat-3052	255	17	licensee	licensee	PROPN
easat-3052	255	18	learning	learn	VERB
easat-3052	255	19	gate	gate	NOUN
easat-3052	255	20	figure	figure	NOUN
easat-3052	255	21	1	1	NUM
easat-3052	255	22	.	.	PUNCT
easat-3052	255	23	capital	capital	NOUN
easat-3052	255	24	structure	structure	NOUN
easat-3052	255	25	of	of	ADP
easat-3052	255	26	the	the	DET
easat-3052	255	27	firms	firm	NOUN
easat-3052	255	28	.	.	PUNCT
easat-3052	256	1	table	table	NOUN
easat-3052	256	2	5	5	NUM
easat-3052	256	3	reports	report	NOUN
easat-3052	256	4	descriptive	descriptive	ADJ
easat-3052	256	5	statistics	statistic	NOUN
easat-3052	256	6	for	for	ADP
easat-3052	256	7	75	75	NUM
easat-3052	256	8	companies	company	NOUN
easat-3052	256	9	during	during	ADP
easat-3052	256	10	the	the	DET
easat-3052	256	11	period	period	NOUN
easat-3052	256	12	from	from	ADP
easat-3052	256	13	2019	2019	NUM
easat-3052	256	14	to	to	ADP
easat-3052	256	15	2023	2023	NUM
easat-3052	256	16	.	.	PUNCT
easat-3052	257	1	(	(	PUNCT
easat-3052	257	2	according	accord	VERB
easat-3052	257	3	to	to	ADP
easat-3052	257	4	the	the	DET
easat-3052	257	5	measurements	measurement	NOUN
easat-3052	257	6	of	of	ADP
easat-3052	257	7	descriptive	descriptive	ADJ
easat-3052	257	8	statistics	statistic	NOUN
easat-3052	257	9	,	,	PUNCT
easat-3052	257	10	please	please	INTJ
easat-3052	257	11	refer	refer	VERB
easat-3052	257	12	to	to	ADP
easat-3052	257	13	the	the	DET
easat-3052	257	14	appendix	appendix	NOUN
easat-3052	257	15	.	.	PUNCT
easat-3052	257	16	)	)	PUNCT
easat-3052	257	17	table	table	NOUN
easat-3052	257	18	5	5	NUM
easat-3052	257	19	reports	report	NOUN
easat-3052	257	20	summary	summary	NOUN
easat-3052	257	21	statistics	statistic	NOUN
easat-3052	257	22	for	for	ADP
easat-3052	257	23	the	the	DET
easat-3052	257	24	variables	variable	NOUN
easat-3052	257	25	used	use	VERB
easat-3052	257	26	in	in	ADP
easat-3052	257	27	our	our	PRON
easat-3052	257	28	study	study	NOUN
easat-3052	257	29	.	.	PUNCT
easat-3052	258	1	it	it	PRON
easat-3052	258	2	shows	show	VERB
easat-3052	258	3	that	that	SCONJ
easat-3052	258	4	the	the	DET
easat-3052	258	5	average	average	ADJ
easat-3052	258	6	short	short	ADJ
easat-3052	258	7	-	-	PUNCT
easat-3052	258	8	term	term	NOUN
easat-3052	258	9	debt	debt	NOUN
easat-3052	258	10	to	to	ADP
easat-3052	258	11	total	total	ADJ
easat-3052	258	12	asset	asset	NOUN
easat-3052	258	13	ratio	ratio	NOUN
easat-3052	258	14	(	(	PUNCT
easat-3052	258	15	sdta	sdta	PROPN
easat-3052	258	16	)	)	PUNCT
easat-3052	258	17	for	for	ADP
easat-3052	258	18	the	the	DET
easat-3052	258	19	sample	sample	NOUN
easat-3052	258	20	as	as	ADP
easat-3052	258	21	a	a	DET
easat-3052	258	22	whole	whole	NOUN
easat-3052	258	23	is	be	AUX
easat-3052	258	24	40.46	40.46	NUM
easat-3052	258	25	percent	percent	NOUN
easat-3052	258	26	and	and	CCONJ
easat-3052	258	27	of	of	ADP
easat-3052	258	28	long	long	ADJ
easat-3052	258	29	-	-	PUNCT
easat-3052	258	30	term	term	NOUN
easat-3052	258	31	debt	debt	NOUN
easat-3052	258	32	to	to	ADP
easat-3052	258	33	total	total	ADJ
easat-3052	258	34	assets	asset	NOUN
easat-3052	258	35	(	(	PUNCT
easat-3052	258	36	ldta	ldta	NOUN
easat-3052	258	37	)	)	PUNCT
easat-3052	258	38	is	be	AUX
easat-3052	258	39	15.27	15.27	NUM
easat-3052	258	40	percent	percent	NOUN
easat-3052	258	41	.	.	PUNCT
easat-3052	259	1	while	while	SCONJ
easat-3052	259	2	the	the	DET
easat-3052	259	3	total	total	ADJ
easat-3052	259	4	debt	debt	NOUN
easat-3052	259	5	(	(	PUNCT
easat-3052	259	6	td	td	NOUN
easat-3052	259	7	)	)	PUNCT
easat-3052	259	8	capital	capital	NOUN
easat-3052	259	9	structure	structure	NOUN
easat-3052	259	10	ratio	ratio	NOUN
easat-3052	259	11	is	be	AUX
easat-3052	259	12	55.57	55.57	NUM
easat-3052	259	13	percent	percent	NOUN
easat-3052	259	14	,	,	PUNCT
easat-3052	259	15	this	this	PRON
easat-3052	259	16	is	be	AUX
easat-3052	259	17	consistent	consistent	ADJ
easat-3052	259	18	with	with	ADP
easat-3052	259	19	the	the	DET
easat-3052	259	20	results	result	NOUN
easat-3052	259	21	from	from	ADP
easat-3052	259	22	table	table	NOUN
easat-3052	259	23	5.1	5.1	NUM
easat-3052	259	24	.	.	PUNCT
easat-3052	260	1	the	the	DET
easat-3052	260	2	table	table	NOUN
easat-3052	260	3	above	above	ADV
easat-3052	260	4	also	also	ADV
easat-3052	260	5	shows	show	VERB
easat-3052	260	6	the	the	DET
easat-3052	260	7	average	average	ADJ
easat-3052	260	8	values	value	NOUN
easat-3052	260	9	as	as	ADV
easat-3052	260	10	well	well	ADV
easat-3052	260	11	as	as	ADP
easat-3052	260	12	the	the	DET
easat-3052	260	13	minimum	minimum	ADJ
easat-3052	260	14	and	and	CCONJ
easat-3052	260	15	maximum	maximum	ADJ
easat-3052	260	16	values	value	NOUN
easat-3052	260	17	for	for	ADP
easat-3052	260	18	both	both	CCONJ
easat-3052	260	19	the	the	DET
easat-3052	260	20	dependent	dependent	ADJ
easat-3052	260	21	and	and	CCONJ
easat-3052	260	22	independent	independent	ADJ
easat-3052	260	23	variables	variable	NOUN
easat-3052	260	24	across	across	ADP
easat-3052	260	25	a	a	DET
easat-3052	260	26	total	total	NOUN
easat-3052	260	27	of	of	ADP
easat-3052	260	28	375	375	NUM
easat-3052	260	29	observations	observation	NOUN
easat-3052	260	30	.	.	PUNCT
easat-3052	261	1	the	the	DET
easat-3052	261	2	firm	firm	NOUN
easat-3052	261	3	's	's	PART
easat-3052	261	4	performance	performance	NOUN
easat-3052	261	5	,	,	PUNCT
easat-3052	261	6	measured	measure	VERB
easat-3052	261	7	by	by	ADP
easat-3052	261	8	return	return	NOUN
easat-3052	261	9	on	on	ADP
easat-3052	261	10	equity	equity	NOUN
easat-3052	261	11	(	(	PUNCT
easat-3052	261	12	roe	roe	PROPN
easat-3052	261	13	)	)	PUNCT
easat-3052	261	14	and	and	CCONJ
easat-3052	261	15	return	return	VERB
easat-3052	261	16	on	on	ADP
easat-3052	261	17	assets	asset	NOUN
easat-3052	261	18	(	(	PUNCT
easat-3052	261	19	roa	roa	PROPN
easat-3052	261	20	)	)	PUNCT
easat-3052	261	21	,	,	PUNCT
easat-3052	261	22	shows	show	VERB
easat-3052	261	23	average	average	ADJ
easat-3052	261	24	values	value	NOUN
easat-3052	261	25	of	of	ADP
easat-3052	261	26	29.99	29.99	NUM
easat-3052	261	27	percent	percent	NOUN
easat-3052	261	28	and	and	CCONJ
easat-3052	261	29	13.09	13.09	NUM
easat-3052	261	30	percent	percent	NOUN
easat-3052	261	31	,	,	PUNCT
easat-3052	261	32	respectively	respectively	ADV
easat-3052	261	33	.	.	PUNCT
easat-3052	262	1	and	and	CCONJ
easat-3052	262	2	similarly	similarly	ADV
easat-3052	262	3	for	for	SCONJ
easat-3052	262	4	all	all	DET
easat-3052	262	5	the	the	DET
easat-3052	262	6	independent	independent	ADJ
easat-3052	262	7	variables	variable	NOUN
easat-3052	262	8	included	include	VERB
easat-3052	262	9	.	.	PUNCT
easat-3052	263	1	4895	4895	NUM
easat-3052	263	2	edelweiss	edelweiss	PROPN
easat-3052	263	3	applied	apply	VERB
easat-3052	263	4	science	science	NOUN
easat-3052	263	5	and	and	CCONJ
easat-3052	263	6	technology	technology	NOUN
easat-3052	263	7	issn	issn	PROPN
easat-3052	263	8	:	:	PUNCT
easat-3052	263	9	2576	2576	NUM
easat-3052	263	10	-	-	SYM
easat-3052	263	11	8484	8484	NUM
easat-3052	263	12	vol	vol	NOUN
easat-3052	263	13	.	.	PROPN
easat-3052	263	14	8	8	NUM
easat-3052	263	15	,	,	PUNCT
easat-3052	263	16	no	no	INTJ
easat-3052	263	17	.	.	NOUN
easat-3052	264	1	6	6	NUM
easat-3052	264	2	:	:	SYM
easat-3052	264	3	4884	4884	NUM
easat-3052	264	4	-	-	SYM
easat-3052	264	5	4902	4902	NUM
easat-3052	264	6	,	,	PUNCT
easat-3052	264	7	2024	2024	NUM
easat-3052	264	8	doi	doi	NOUN
easat-3052	264	9	:	:	PUNCT
easat-3052	264	10	10.55214/25768484.v8i6.3052	10.55214/25768484.v8i6.3052	NUM
easat-3052	264	11	©	©	ADP
easat-3052	264	12	2024	2024	NUM
easat-3052	264	13	by	by	ADP
easat-3052	264	14	the	the	DET
easat-3052	264	15	author	author	NOUN
easat-3052	264	16	;	;	PUNCT
easat-3052	264	17	licensee	licensee	PROPN
easat-3052	264	18	learning	learn	VERB
easat-3052	264	19	gate	gate	NOUN
easat-3052	264	20	table	table	NOUN
easat-3052	264	21	5	5	NUM
easat-3052	264	22	.	.	PUNCT
easat-3052	264	23	reports	report	VERB
easat-3052	264	24	descriptive	descriptive	ADJ
easat-3052	264	25	statistics	statistic	NOUN
easat-3052	264	26	for	for	ADP
easat-3052	264	27	75	75	NUM
easat-3052	264	28	companies	company	NOUN
easat-3052	264	29	during	during	ADP
easat-3052	264	30	the	the	DET
easat-3052	264	31	period	period	NOUN
easat-3052	264	32	from	from	ADP
easat-3052	264	33	2019	2019	NUM
easat-3052	264	34	to	to	ADP
easat-3052	264	35	2023	2023	NUM
easat-3052	264	36	.	.	PUNCT
easat-3052	265	1	bt	bt	PROPN
easat-3052	265	2	bagj	bagj	PROPN
easat-3052	265	3	bash	bash	NOUN
easat-3052	265	4	ta	ta	ADP
easat-3052	265	5	roe	roe	PROPN
easat-3052	265	6	roa	roa	PROPN
easat-3052	265	7	ptjb	ptjb	PROPN
easat-3052	265	8	mrr	mrr	PROPN
easat-3052	265	9	mof	mof	X
easat-3052	265	10	mf	mf	X
easat-3052	265	11	lf	lf	ADP
easat-3052	265	12	ff	ff	NOUN
easat-3052	265	13	mean	mean	VERB
easat-3052	265	14	0.557357	0.557357	NUM
easat-3052	266	1	0.152731	0.152731	NUM
easat-3052	266	2	0.404615	0.404615	NUM
easat-3052	266	3	0.296745	0.296745	NUM
easat-3052	266	4	0.299922	0.299922	NUM
easat-3052	266	5	0.130916	0.130916	NUM
easat-3052	266	6	0.030588	0.030588	NUM
easat-3052	266	7	0.157494	0.157494	NUM
easat-3052	266	8	2.779811	2.779811	NUM
easat-3052	266	9	21.40989	21.40989	NUM
easat-3052	266	10	2.135278	2.135278	NUM
easat-3052	266	11	0.209902	0.209902	NUM
easat-3052	266	12	median	median	NOUN
easat-3052	266	13	0.563524	0.563524	NUM
easat-3052	267	1	0.068333	0.068333	NUM
easat-3052	267	2	0.363249	0.363249	NUM
easat-3052	267	3	0.237528	0.237528	NUM
easat-3052	268	1	0.201237	0.201237	NUM
easat-3052	268	2	0.073348	0.073348	NUM
easat-3052	268	3	0.017033	0.017033	NUM
easat-3052	268	4	0.055087	0.055087	NUM
easat-3052	268	5	2.890372	2.890372	NUM
easat-3052	268	6	21.75555	21.75555	NUM
easat-3052	268	7	1.503118	1.503118	NUM
easat-3052	268	8	0.080843	0.080843	NUM
easat-3052	268	9	maximum	maximum	NOUN
easat-3052	268	10	1.000000	1.000000	NUM
easat-3052	268	11	0.974848	0.974848	NUM
easat-3052	268	12	0.999745	0.999745	NUM
easat-3052	268	13	1.981388	1.981388	NUM
easat-3052	268	14	1.582288	1.582288	NUM
easat-3052	268	15	0.894874	0.894874	NUM
easat-3052	268	16	0.607683	0.607683	NUM
easat-3052	268	17	11.71145	11.71145	NUM
easat-3052	268	18	3.465736	3.465736	NUM
easat-3052	268	19	26.07734	26.07734	NUM
easat-3052	268	20	27.08731	27.08731	NUM
easat-3052	268	21	17.04394	17.04394	NUM
easat-3052	268	22	minimum	minimum	NOUN
easat-3052	268	23	0.005908	0.005908	NUM
easat-3052	268	24	0.000000	0.000000	NUM
easat-3052	268	25	0.005908	0.005908	NUM
easat-3052	268	26	0.000000	0.000000	NUM
easat-3052	268	27	-1.083658	-1.083658	NOUN
easat-3052	268	28	-0.221610	-0.221610	VERB
easat-3052	268	29	0.000000	0.000000	NUM
easat-3052	268	30	-0.798518	-0.798518	NOUN
easat-3052	269	1	0.000000	0.000000	NUM
easat-3052	269	2	16.08422	16.08422	NUM
easat-3052	269	3	0.073533	0.073533	NUM
easat-3052	269	4	0.000165	0.000165	NUM
easat-3052	269	5	std	std	NOUN
easat-3052	269	6	.	.	PUNCT
easat-3052	269	7	dev	dev	PROPN
easat-3052	269	8	.	.	PUNCT
easat-3052	270	1	0.236685	0.236685	NUM
easat-3052	270	2	0.209208	0.209208	NUM
easat-3052	270	3	0.250831	0.250831	NUM
easat-3052	270	4	0.283690	0.283690	NUM
easat-3052	270	5	0.327849	0.327849	NUM
easat-3052	270	6	0.158826	0.158826	NUM
easat-3052	270	7	0.049986	0.049986	NUM
easat-3052	270	8	0.747251	0.747251	NUM
easat-3052	270	9	0.548661	0.548661	NUM
easat-3052	270	10	2.053743	2.053743	NUM
easat-3052	270	11	2.716298	2.716298	NUM
easat-3052	270	12	0.898080	0.898080	NUM
easat-3052	270	13	skewness	skewness	NOUN
easat-3052	270	14	-0.137624	-0.137624	PROPN
easat-3052	270	15	1.764219	1.764219	NUM
easat-3052	270	16	0.505266	0.505266	NUM
easat-3052	270	17	1.297517	1.297517	NUM
easat-3052	270	18	1.062872	1.062872	NUM
easat-3052	270	19	1.834250	1.834250	NUM
easat-3052	270	20	6.681932	6.681932	NUM
easat-3052	270	21	11.11249	11.11249	NUM
easat-3052	270	22	-1.319592	-1.319592	NOUN
easat-3052	270	23	-0.420013	-0.420013	NOUN
easat-3052	271	1	5.553864	5.553864	NUM
easat-3052	271	2	17.65516	17.65516	NUM
easat-3052	271	3	kurtosis	kurtosis	NOUN
easat-3052	271	4	2.353097	2.353097	NUM
easat-3052	271	5	5.819529	5.819529	NUM
easat-3052	271	6	2.391493	2.391493	NUM
easat-3052	271	7	5.699641	5.699641	NUM
easat-3052	271	8	4.691667	4.691667	NUM
easat-3052	271	9	6.868261	6.868261	NUM
easat-3052	271	10	68.40001	68.40001	NUM
easat-3052	271	11	159.7815	159.7815	NUM
easat-3052	271	12	5.287885	5.287885	NUM
easat-3052	271	13	2.924825	2.924825	NUM
easat-3052	271	14	42.74605	42.74605	NUM
easat-3052	271	15	330.9907	330.9907	NUM
easat-3052	271	16	jarque	jarque	NOUN
easat-3052	271	17	-	-	PUNCT
easat-3052	271	18	bera	bera	NOUN
easat-3052	271	19	7.722580	7.722580	NUM
easat-3052	271	20	318.7440	318.7440	NUM
easat-3052	271	21	21.74153	21.74153	NUM
easat-3052	271	22	219.0978	219.0978	NUM
easat-3052	271	23	115.3207	115.3207	NUM
easat-3052	271	24	444.0833	444.0833	NUM
easat-3052	271	25	69621.16	69621.16	NUM
easat-3052	271	26	391787.2	391787.2	NUM
easat-3052	271	27	190.6204	190.6204	NUM
easat-3052	271	28	11.11398	11.11398	NUM
easat-3052	271	29	26611.41	26611.41	NUM
easat-3052	271	30	1700387	1700387	NUM
easat-3052	271	31	.	.	PUNCT
easat-3052	272	1	probability	probability	NOUN
easat-3052	272	2	0.021041	0.021041	NUM
easat-3052	272	3	0.000000	0.000000	NUM
easat-3052	272	4	0.000019	0.000019	NUM
easat-3052	272	5	0.000000	0.000000	NUM
easat-3052	272	6	0.000000	0.000000	NUM
easat-3052	272	7	0.000000	0.000000	NUM
easat-3052	272	8	0.000000	0.000000	NUM
easat-3052	272	9	0.000000	0.000000	NUM
easat-3052	272	10	0.000000	0.000000	NUM
easat-3052	272	11	0.003860	0.003860	NUM
easat-3052	272	12	0.000000	0.000000	NUM
easat-3052	272	13	0.000000	0.000000	NUM
easat-3052	272	14	sum	sum	NOUN
easat-3052	272	15	209.0090	209.0090	NUM
easat-3052	272	16	57.27412	57.27412	NUM
easat-3052	272	17	151.7307	151.7307	NUM
easat-3052	272	18	111.2795	111.2795	NUM
easat-3052	272	19	112.4708	112.4708	NUM
easat-3052	272	20	49.09364	49.09364	NUM
easat-3052	272	21	11.47047	11.47047	NUM
easat-3052	272	22	59.06008	59.06008	NUM
easat-3052	272	23	1042.429	1042.429	NUM
easat-3052	272	24	8028.710	8028.710	NUM
easat-3052	272	25	800.7291	800.7291	NUM
easat-3052	272	26	78.71308	78.71308	NUM
easat-3052	272	27	sumsq	sumsq	NOUN
easat-3052	272	28	.	.	PUNCT
easat-3052	273	1	dev	dev	PROPN
easat-3052	273	2	.	.	PROPN
easat-3052	273	3	20.95141	20.95141	NUM
easat-3052	273	4	16.36918	16.36918	NUM
easat-3052	273	5	23.53072	23.53072	NUM
easat-3052	273	6	30.09955	30.09955	NUM
easat-3052	273	7	40.19943	40.19943	NUM
easat-3052	273	8	9.434376	9.434376	NUM
easat-3052	273	9	0.934475	0.934475	NUM
easat-3052	273	10	208.8354	208.8354	NUM
easat-3052	273	11	112.5849	112.5849	NUM
easat-3052	273	12	1577.480	1577.480	NUM
easat-3052	273	13	2759.476	2759.476	NUM
easat-3052	273	14	301.6491	301.6491	NUM
easat-3052	273	15	observations	observation	NOUN
easat-3052	273	16	375	375	NUM
easat-3052	273	17	375	375	NUM
easat-3052	273	18	375	375	NUM
easat-3052	273	19	375	375	NUM
easat-3052	273	20	375	375	NUM
easat-3052	273	21	375	375	NUM
easat-3052	273	22	375	375	NUM
easat-3052	273	23	375	375	NUM
easat-3052	273	24	375	375	NUM
easat-3052	273	25	375	375	NUM
easat-3052	273	26	375	375	NUM
easat-3052	273	27	375	375	NUM
easat-3052	273	28	4896	4896	NUM
easat-3052	273	29	edelweiss	edelweiss	PROPN
easat-3052	273	30	applied	apply	VERB
easat-3052	273	31	science	science	NOUN
easat-3052	273	32	and	and	CCONJ
easat-3052	273	33	technology	technology	NOUN
easat-3052	273	34	issn	issn	PROPN
easat-3052	273	35	:	:	PUNCT
easat-3052	273	36	2576	2576	NUM
easat-3052	273	37	-	-	SYM
easat-3052	273	38	8484	8484	NUM
easat-3052	273	39	vol	vol	NOUN
easat-3052	273	40	.	.	PROPN
easat-3052	273	41	8	8	NUM
easat-3052	273	42	,	,	PUNCT
easat-3052	273	43	no	no	INTJ
easat-3052	273	44	.	.	NOUN
easat-3052	274	1	6	6	NUM
easat-3052	274	2	:	:	SYM
easat-3052	274	3	4884	4884	NUM
easat-3052	274	4	-	-	SYM
easat-3052	274	5	4902	4902	NUM
easat-3052	274	6	,	,	PUNCT
easat-3052	274	7	2024	2024	NUM
easat-3052	274	8	doi	doi	NOUN
easat-3052	274	9	:	:	PUNCT
easat-3052	274	10	10.55214/25768484.v8i6.3052	10.55214/25768484.v8i6.3052	NUM
easat-3052	274	11	©	©	ADP
easat-3052	274	12	2024	2024	NUM
easat-3052	274	13	by	by	ADP
easat-3052	274	14	the	the	DET
easat-3052	274	15	author	author	NOUN
easat-3052	274	16	;	;	PUNCT
easat-3052	274	17	licensee	licensee	PROPN
easat-3052	274	18	learning	learn	VERB
easat-3052	274	19	gate	gate	PROPN
easat-3052	274	20	table	table	NOUN
easat-3052	274	21	6	6	NUM
easat-3052	274	22	shows	show	VERB
easat-3052	274	23	the	the	DET
easat-3052	274	24	pearson	pearson	PROPN
easat-3052	274	25	correlation	correlation	NOUN
easat-3052	274	26	coefficients	coefficient	NOUN
easat-3052	274	27	for	for	ADP
easat-3052	274	28	total	total	ADJ
easat-3052	274	29	debt	debt	NOUN
easat-3052	274	30	(	(	PUNCT
easat-3052	274	31	bt	bt	NOUN
easat-3052	274	32	)	)	PUNCT
easat-3052	274	33	,	,	PUNCT
easat-3052	274	34	using	use	VERB
easat-3052	274	35	observations	observation	NOUN
easat-3052	274	36	from	from	ADP
easat-3052	274	37	75	75	NUM
easat-3052	274	38	companies	company	NOUN
easat-3052	274	39	during	during	ADP
easat-3052	274	40	the	the	DET
easat-3052	274	41	period	period	NOUN
easat-3052	274	42	from	from	ADP
easat-3052	274	43	2019	2019	NUM
easat-3052	274	44	to	to	ADP
easat-3052	274	45	2023	2023	NUM
easat-3052	274	46	.	.	PUNCT
easat-3052	275	1	(	(	PUNCT
easat-3052	275	2	according	accord	VERB
easat-3052	275	3	to	to	ADP
easat-3052	275	4	the	the	DET
easat-3052	275	5	measurements	measurement	NOUN
easat-3052	275	6	of	of	ADP
easat-3052	275	7	pearson	pearson	PROPN
easat-3052	275	8	correlation	correlation	NOUN
easat-3052	275	9	coefficients	coefficient	NOUN
easat-3052	275	10	,	,	PUNCT
easat-3052	275	11	please	please	INTJ
easat-3052	275	12	refer	refer	VERB
easat-3052	275	13	to	to	ADP
easat-3052	275	14	the	the	DET
easat-3052	275	15	appendix	appendix	NOUN
easat-3052	275	16	)	)	PUNCT
easat-3052	275	17	.	.	PUNCT
easat-3052	276	1	the	the	DET
easat-3052	276	2	following	follow	VERB
easat-3052	276	3	tables	table	NOUN
easat-3052	276	4	show	show	VERB
easat-3052	276	5	the	the	DET
easat-3052	276	6	correlation	correlation	NOUN
easat-3052	276	7	coefficients	coefficient	NOUN
easat-3052	276	8	between	between	ADP
easat-3052	276	9	independent	independent	ADJ
easat-3052	276	10	variables	variable	NOUN
easat-3052	276	11	and	and	CCONJ
easat-3052	276	12	capital	capital	NOUN
easat-3052	276	13	structure	structure	NOUN
easat-3052	276	14	bt	bt	PROPN
easat-3052	276	15	(	(	PUNCT
easat-3052	276	16	td	td	NOUN
easat-3052	276	17	)	)	PUNCT
easat-3052	276	18	for	for	ADP
easat-3052	276	19	the	the	DET
easat-3052	276	20	entire	entire	ADJ
easat-3052	276	21	sample	sample	NOUN
easat-3052	276	22	.	.	PUNCT
easat-3052	277	1	this	this	DET
easat-3052	277	2	analysis	analysis	NOUN
easat-3052	277	3	is	be	AUX
easat-3052	277	4	carried	carry	VERB
easat-3052	277	5	out	out	ADP
easat-3052	277	6	to	to	PART
easat-3052	277	7	identify	identify	VERB
easat-3052	277	8	whether	whether	SCONJ
easat-3052	277	9	the	the	DET
easat-3052	277	10	relationship	relationship	NOUN
easat-3052	277	11	between	between	ADP
easat-3052	277	12	the	the	DET
easat-3052	277	13	variables	variable	NOUN
easat-3052	277	14	is	be	AUX
easat-3052	277	15	positive	positive	ADJ
easat-3052	277	16	or	or	CCONJ
easat-3052	277	17	negative	negative	ADJ
easat-3052	277	18	.	.	PUNCT
easat-3052	278	1	the	the	DET
easat-3052	278	2	linear	linear	ADJ
easat-3052	278	3	correlation	correlation	NOUN
easat-3052	278	4	coefficient	coefficient	NOUN
easat-3052	278	5	(	(	PUNCT
easat-3052	278	6	r	r	NOUN
easat-3052	278	7	)	)	PUNCT
easat-3052	278	8	,	,	PUNCT
easat-3052	278	9	measures	measure	VERB
easat-3052	278	10	the	the	DET
easat-3052	278	11	strength	strength	NOUN
easat-3052	278	12	and	and	CCONJ
easat-3052	278	13	direction	direction	NOUN
easat-3052	278	14	of	of	ADP
easat-3052	278	15	a	a	DET
easat-3052	278	16	linear	linear	ADJ
easat-3052	278	17	relationship	relationship	NOUN
easat-3052	278	18	between	between	ADP
easat-3052	278	19	the	the	DET
easat-3052	278	20	variables	variable	NOUN
easat-3052	278	21	.	.	PUNCT
easat-3052	279	1	if	if	SCONJ
easat-3052	279	2	“	"	PUNCT
easat-3052	279	3	r	r	NOUN
easat-3052	279	4	”	"	PUNCT
easat-3052	279	5	is	be	AUX
easat-3052	279	6	greater	great	ADJ
easat-3052	279	7	than	than	ADP
easat-3052	279	8	0.8	0.8	NUM
easat-3052	279	9	,	,	PUNCT
easat-3052	279	10	it	it	PRON
easat-3052	279	11	indicates	indicate	VERB
easat-3052	279	12	a	a	DET
easat-3052	279	13	strong	strong	ADJ
easat-3052	279	14	relationship	relationship	NOUN
easat-3052	279	15	between	between	ADP
easat-3052	279	16	the	the	DET
easat-3052	279	17	variables	variable	NOUN
easat-3052	279	18	.	.	PUNCT
easat-3052	280	1	if	if	SCONJ
easat-3052	280	2	“	"	PUNCT
easat-3052	280	3	r	r	NOUN
easat-3052	280	4	”	"	PUNCT
easat-3052	280	5	is	be	AUX
easat-3052	280	6	less	less	ADJ
easat-3052	280	7	than	than	ADP
easat-3052	280	8	0.5	0.5	NUM
easat-3052	280	9	,	,	PUNCT
easat-3052	280	10	it	it	PRON
easat-3052	280	11	indicates	indicate	VERB
easat-3052	280	12	a	a	DET
easat-3052	280	13	weak	weak	ADJ
easat-3052	280	14	relationship	relationship	NOUN
easat-3052	280	15	between	between	ADP
easat-3052	280	16	the	the	DET
easat-3052	280	17	variables	variable	NOUN
easat-3052	280	18	(	(	PUNCT
easat-3052	280	19	gujarati	gujarati	PROPN
easat-3052	280	20	,	,	PUNCT
easat-3052	280	21	2004	2004	NUM
easat-3052	280	22	)	)	PUNCT
easat-3052	280	23	.	.	PUNCT
easat-3052	281	1	as	as	SCONJ
easat-3052	281	2	we	we	PRON
easat-3052	281	3	can	can	AUX
easat-3052	281	4	observe	observe	VERB
easat-3052	281	5	,	,	PUNCT
easat-3052	281	6	in	in	ADP
easat-3052	281	7	no	no	DET
easat-3052	281	8	case	case	NOUN
easat-3052	281	9	do	do	AUX
easat-3052	281	10	the	the	DET
easat-3052	281	11	coefficients	coefficient	NOUN
easat-3052	281	12	exceed	exceed	VERB
easat-3052	281	13	the	the	DET
easat-3052	281	14	value	value	NOUN
easat-3052	281	15	of	of	ADP
easat-3052	281	16	0.8	0.8	NUM
easat-3052	281	17	,	,	PUNCT
easat-3052	281	18	and	and	CCONJ
easat-3052	281	19	this	this	PRON
easat-3052	281	20	can	can	AUX
easat-3052	281	21	be	be	AUX
easat-3052	281	22	verified	verify	VERB
easat-3052	281	23	through	through	ADP
easat-3052	281	24	the	the	DET
easat-3052	281	25	values	value	NOUN
easat-3052	281	26	of	of	ADP
easat-3052	281	27	vif	vif	PROPN
easat-3052	281	28	.	.	PROPN
easat-3052	282	1	total	total	ADJ
easat-3052	282	2	debt	debt	NOUN
easat-3052	282	3	(	(	PUNCT
easat-3052	282	4	td	td	NOUN
easat-3052	282	5	)	)	PUNCT
easat-3052	282	6	has	have	VERB
easat-3052	282	7	a	a	DET
easat-3052	282	8	positive	positive	ADJ
easat-3052	282	9	correlation	correlation	NOUN
easat-3052	282	10	with	with	ADP
easat-3052	282	11	total	total	ADJ
easat-3052	282	12	assets	asset	NOUN
easat-3052	282	13	(	(	PUNCT
easat-3052	282	14	ta	ta	NOUN
easat-3052	282	15	)	)	PUNCT
easat-3052	282	16	,	,	PUNCT
easat-3052	282	17	return	return	VERB
easat-3052	282	18	on	on	ADP
easat-3052	282	19	equity	equity	NOUN
easat-3052	282	20	(	(	PUNCT
easat-3052	282	21	roe	roe	PROPN
easat-3052	282	22	)	)	PUNCT
easat-3052	282	23	,	,	PUNCT
easat-3052	282	24	and	and	CCONJ
easat-3052	282	25	growth	growth	NOUN
easat-3052	282	26	opportunity	opportunity	NOUN
easat-3052	282	27	mrr	mrr	NOUN
easat-3052	282	28	and	and	CCONJ
easat-3052	282	29	a	a	DET
easat-3052	282	30	negative	negative	ADJ
easat-3052	282	31	correlation	correlation	NOUN
easat-3052	282	32	with	with	ADP
easat-3052	282	33	return	return	NOUN
easat-3052	282	34	on	on	ADP
easat-3052	282	35	assets	asset	NOUN
easat-3052	282	36	(	(	PUNCT
easat-3052	282	37	roa	roa	NOUN
easat-3052	282	38	)	)	PUNCT
easat-3052	282	39	,	,	PUNCT
easat-3052	282	40	non	non	ADJ
easat-3052	282	41	-	-	ADJ
easat-3052	282	42	profit	profit	ADJ
easat-3052	282	43	tax	tax	NOUN
easat-3052	282	44	shield	shield	NOUN
easat-3052	282	45	ptjb	ptjb	NOUN
easat-3052	282	46	,	,	PUNCT
easat-3052	282	47	firms	firm	NOUN
easat-3052	282	48	age	age	NOUN
easat-3052	282	49	mof	mof	NOUN
easat-3052	282	50	,	,	PUNCT
easat-3052	282	51	firms	firm	NOUN
easat-3052	282	52	size	size	VERB
easat-3052	282	53	mf	mf	PROPN
easat-3052	282	54	,	,	PUNCT
easat-3052	282	55	liquidity	liquidity	NOUN
easat-3052	282	56	ratio	ratio	NOUN
easat-3052	282	57	(	(	PUNCT
easat-3052	282	58	lr	lr	NOUN
easat-3052	282	59	)	)	PUNCT
easat-3052	282	60	,	,	PUNCT
easat-3052	282	61	and	and	CCONJ
easat-3052	282	62	firm	firm	ADJ
easat-3052	282	63	flexibility	flexibility	NOUN
easat-3052	282	64	(	(	PUNCT
easat-3052	282	65	ff	ff	NOUN
easat-3052	282	66	)	)	PUNCT
easat-3052	282	67	.	.	PUNCT
easat-3052	283	1	in	in	ADP
easat-3052	283	2	all	all	DET
easat-3052	283	3	cases	case	NOUN
easat-3052	283	4	,	,	PUNCT
easat-3052	283	5	the	the	DET
easat-3052	283	6	coefficients	coefficient	NOUN
easat-3052	283	7	are	be	AUX
easat-3052	283	8	statistically	statistically	ADV
easat-3052	283	9	significant	significant	ADJ
easat-3052	283	10	,	,	PUNCT
easat-3052	283	11	except	except	SCONJ
easat-3052	283	12	for	for	ADP
easat-3052	283	13	the	the	DET
easat-3052	283	14	case	case	NOUN
easat-3052	283	15	of	of	ADP
easat-3052	283	16	firms	firm	NOUN
easat-3052	283	17	size	size	VERB
easat-3052	283	18	mf	mf	X
easat-3052	283	19	.	.	PROPN
easat-3052	283	20	4.2	4.2	NUM
easat-3052	283	21	.	.	PUNCT
easat-3052	284	1	multicollinearity	multicollinearity	NOUN
easat-3052	284	2	analysis	analysis	NOUN
easat-3052	284	3	of	of	ADP
easat-3052	284	4	the	the	DET
easat-3052	284	5	variables	variable	NOUN
easat-3052	284	6	as	as	SCONJ
easat-3052	284	7	recommended	recommend	VERB
easat-3052	284	8	by	by	ADP
easat-3052	284	9	gujarati	gujarati	PROPN
easat-3052	284	10	(	(	PUNCT
easat-3052	284	11	2004	2004	NUM
easat-3052	284	12	)	)	PUNCT
easat-3052	285	1	[	[	X
easat-3052	285	2	20	20	NUM
easat-3052	285	3	]	]	PUNCT
easat-3052	285	4	,	,	PUNCT
easat-3052	285	5	the	the	DET
easat-3052	285	6	variance	variance	NOUN
easat-3052	285	7	inflation	inflation	NOUN
easat-3052	285	8	factor	factor	NOUN
easat-3052	285	9	(	(	PUNCT
easat-3052	285	10	vif	vif	NOUN
easat-3052	285	11	)	)	PUNCT
easat-3052	285	12	method	method	NOUN
easat-3052	285	13	is	be	AUX
easat-3052	285	14	used	use	VERB
easat-3052	285	15	to	to	PART
easat-3052	285	16	test	test	VERB
easat-3052	285	17	for	for	ADP
easat-3052	285	18	the	the	DET
easat-3052	285	19	existence	existence	NOUN
easat-3052	285	20	of	of	ADP
easat-3052	285	21	multicollinearity	multicollinearity	NOUN
easat-3052	285	22	among	among	ADP
easat-3052	285	23	the	the	DET
easat-3052	285	24	determinants	determinant	NOUN
easat-3052	285	25	of	of	ADP
easat-3052	285	26	capital	capital	NOUN
easat-3052	285	27	structure	structure	NOUN
easat-3052	285	28	.	.	PUNCT
easat-3052	286	1	the	the	DET
easat-3052	286	2	vif	vif	NOUN
easat-3052	286	3	measures	measure	VERB
easat-3052	286	4	how	how	SCONJ
easat-3052	286	5	much	much	ADJ
easat-3052	286	6	the	the	DET
easat-3052	286	7	variance	variance	NOUN
easat-3052	286	8	of	of	ADP
easat-3052	286	9	the	the	DET
easat-3052	286	10	estimated	estimate	VERB
easat-3052	286	11	regression	regression	NOUN
easat-3052	286	12	coefficients	coefficient	NOUN
easat-3052	286	13	is	be	AUX
easat-3052	286	14	inflated	inflate	VERB
easat-3052	286	15	compared	compare	VERB
easat-3052	286	16	to	to	ADP
easat-3052	286	17	the	the	DET
easat-3052	286	18	situation	situation	NOUN
easat-3052	286	19	where	where	SCONJ
easat-3052	286	20	the	the	DET
easat-3052	286	21	predictors	predictor	NOUN
easat-3052	286	22	are	be	AUX
easat-3052	286	23	not	not	PART
easat-3052	286	24	linearly	linearly	ADV
easat-3052	286	25	related	relate	VERB
easat-3052	286	26	.	.	PUNCT
easat-3052	287	1	thus	thus	ADV
easat-3052	287	2	,	,	PUNCT
easat-3052	287	3	this	this	DET
easat-3052	287	4	indicator	indicator	NOUN
easat-3052	287	5	expresses	express	VERB
easat-3052	287	6	the	the	DET
easat-3052	287	7	degree	degree	NOUN
easat-3052	287	8	to	to	PART
easat-3052	287	9	which	which	PRON
easat-3052	287	10	each	each	DET
easat-3052	287	11	independent	independent	ADJ
easat-3052	287	12	variable	variable	NOUN
easat-3052	287	13	is	be	AUX
easat-3052	287	14	explained	explain	VERB
easat-3052	287	15	by	by	ADP
easat-3052	287	16	other	other	ADJ
easat-3052	287	17	independent	independent	ADJ
easat-3052	287	18	variables	variable	NOUN
easat-3052	287	19	and	and	CCONJ
easat-3052	287	20	is	be	AUX
easat-3052	287	21	measured	measure	VERB
easat-3052	287	22	using	use	VERB
easat-3052	287	23	the	the	DET
easat-3052	287	24	following	follow	VERB
easat-3052	287	25	formula	formula	NOUN
easat-3052	287	26	:	:	PUNCT
easat-3052	287	27	(	(	PUNCT
easat-3052	287	28	6	6	X
easat-3052	287	29	)	)	PUNCT
easat-3052	287	30	r²	r²	NOUN
easat-3052	287	31	represents	represent	VERB
easat-3052	287	32	the	the	DET
easat-3052	287	33	coefficient	coefficient	NOUN
easat-3052	287	34	of	of	ADP
easat-3052	287	35	determination	determination	NOUN
easat-3052	287	36	,	,	PUNCT
easat-3052	287	37	while	while	SCONJ
easat-3052	287	38	the	the	DET
easat-3052	287	39	indicator	indicator	NOUN
easat-3052	287	40	(	(	PUNCT
easat-3052	287	41	1	1	NUM
easat-3052	287	42	/	/	SYM
easat-3052	287	43	vif	vif	NOUN
easat-3052	287	44	)	)	PUNCT
easat-3052	287	45	measures	measure	NOUN
easat-3052	287	46	tolerances	tolerance	NOUN
easat-3052	287	47	,	,	PUNCT
easat-3052	287	48	which	which	PRON
easat-3052	287	49	are	be	AUX
easat-3052	287	50	presented	present	VERB
easat-3052	287	51	in	in	ADP
easat-3052	287	52	the	the	DET
easat-3052	287	53	table	table	NOUN
easat-3052	287	54	below	below	ADV
easat-3052	287	55	.	.	PUNCT
easat-3052	288	1	generally	generally	ADV
easat-3052	288	2	,	,	PUNCT
easat-3052	288	3	a	a	DET
easat-3052	288	4	vif	vif	NOUN
easat-3052	288	5	greater	great	ADJ
easat-3052	288	6	than	than	ADP
easat-3052	288	7	10	10	NUM
easat-3052	288	8	indicates	indicate	VERB
easat-3052	288	9	the	the	DET
easat-3052	288	10	presence	presence	NOUN
easat-3052	288	11	of	of	ADP
easat-3052	288	12	harmful	harmful	ADJ
easat-3052	288	13	collinearity	collinearity	NOUN
easat-3052	288	14	among	among	ADP
easat-3052	288	15	the	the	DET
easat-3052	288	16	variables	variable	NOUN
easat-3052	288	17	(	(	PUNCT
easat-3052	288	18	gujarati	gujarati	PROPN
easat-3052	288	19	,	,	PUNCT
easat-3052	288	20	2004	2004	NUM
easat-3052	288	21	)	)	PUNCT
easat-3052	289	1	[	[	X
easat-3052	289	2	20	20	NUM
easat-3052	289	3	]	]	PUNCT
easat-3052	289	4	.	.	PUNCT
easat-3052	290	1	table	table	NOUN
easat-3052	290	2	7	7	PROPN
easat-3052	290	3	.	.	PUNCT
easat-3052	290	4	shows	show	VERB
easat-3052	290	5	the	the	DET
easat-3052	290	6	variance	variance	NOUN
easat-3052	290	7	inflation	inflation	NOUN
easat-3052	290	8	factors	factor	NOUN
easat-3052	290	9	.	.	PUNCT
easat-3052	291	1	included	include	VERB
easat-3052	291	2	observations	observation	NOUN
easat-3052	291	3	:	:	PUNCT
easat-3052	291	4	375	375	NUM
easat-3052	291	5	coefficient	coefficient	NOUN
easat-3052	291	6	uncentered	uncentere	VERB
easat-3052	291	7	centered	center	VERB
easat-3052	291	8	variable	variable	ADJ
easat-3052	291	9	variance	variance	NOUN
easat-3052	291	10	vif	vif	PROPN
easat-3052	291	11	vif	vif	NOUN
easat-3052	291	12	ta	ta	PROPN
easat-3052	291	13	0.001401	0.001401	NUM
easat-3052	291	14	2.761604	2.761604	NUM
easat-3052	291	15	1.316879	1.316879	NUM
easat-3052	291	16	roe	roe	NOUN
easat-3052	291	17	0.002471	0.002471	NUM
easat-3052	291	18	5.705089	5.705089	NUM
easat-3052	291	19	3.102060	3.102060	NUM
easat-3052	291	20	roa	roa	NOUN
easat-3052	291	21	0.010283	0.010283	NUM
easat-3052	291	22	5.094156	5.094156	NUM
easat-3052	291	23	3.029983	3.029983	NUM
easat-3052	291	24	ptjb	ptjb	VERB
easat-3052	291	25	0.038176	0.038176	NUM
easat-3052	291	26	1.532583	1.532583	NUM
easat-3052	291	27	1.114234	1.114234	NUM
easat-3052	291	28	mrr	mrr	NOUN
easat-3052	291	29	0.000174	0.000174	NUM
easat-3052	291	30	1.187445	1.187445	NUM
easat-3052	291	31	1.136811	1.136811	NUM
easat-3052	291	32	mof	mof	NOUN
easat-3052	291	33	0.000392	0.000392	NUM
easat-3052	291	34	36.84345	36.84345	NUM
easat-3052	291	35	1.377923	1.377923	NUM
easat-3052	291	36	mf	mf	NOUN
easat-3052	291	37	2.64e-05	2.64e-05	NUM
easat-3052	291	38	143.0663	143.0663	NUM
easat-3052	291	39	1.300989	1.300989	NUM
easat-3052	291	40	lf	lf	ADP
easat-3052	291	41	1.55e-05	1.55e-05	NUM
easat-3052	291	42	2.169551	2.169551	NUM
easat-3052	291	43	1.339558	1.339558	NUM
easat-3052	291	44	ff	ff	PROPN
easat-3052	291	45	0.000141	0.000141	NUM
easat-3052	291	46	1.396806	1.396806	NUM
easat-3052	291	47	1.324273	1.324273	NUM
easat-3052	291	48	c	c	NOUN
easat-3052	291	49	0.010429	0.010429	NUM
easat-3052	291	50	122.1525	122.1525	NUM
easat-3052	291	51	na	na	NOUN
easat-3052	291	52	as	as	SCONJ
easat-3052	291	53	we	we	PRON
easat-3052	291	54	can	can	AUX
easat-3052	291	55	see	see	VERB
easat-3052	291	56	from	from	ADP
easat-3052	291	57	the	the	DET
easat-3052	291	58	table	table	NOUN
easat-3052	291	59	7	7	NUM
easat-3052	291	60	above	above	ADV
easat-3052	291	61	,	,	PUNCT
easat-3052	291	62	in	in	ADP
easat-3052	291	63	any	any	DET
easat-3052	291	64	case	case	NOUN
easat-3052	291	65	,	,	PUNCT
easat-3052	291	66	the	the	DET
easat-3052	291	67	vif	vif	NOUN
easat-3052	291	68	(	(	PUNCT
easat-3052	291	69	centered	center	VERB
easat-3052	291	70	)	)	PUNCT
easat-3052	291	71	is	be	AUX
easat-3052	291	72	not	not	PART
easat-3052	291	73	greater	great	ADJ
easat-3052	291	74	than	than	ADP
easat-3052	291	75	10	10	NUM
easat-3052	291	76	,	,	PUNCT
easat-3052	291	77	which	which	PRON
easat-3052	291	78	indicates	indicate	VERB
easat-3052	291	79	that	that	SCONJ
easat-3052	291	80	we	we	PRON
easat-3052	291	81	are	be	AUX
easat-3052	291	82	not	not	PART
easat-3052	291	83	facing	face	VERB
easat-3052	291	84	the	the	DET
easat-3052	291	85	problem	problem	NOUN
easat-3052	291	86	of	of	ADP
easat-3052	291	87	multicollinearity	multicollinearity	NOUN
easat-3052	291	88	among	among	ADP
easat-3052	291	89	the	the	DET
easat-3052	291	90	variables	variable	NOUN
easat-3052	291	91	.	.	PUNCT
easat-3052	292	1	to	to	PART
easat-3052	292	2	test	test	VERB
easat-3052	292	3	autocorrelation	autocorrelation	NOUN
easat-3052	292	4	in	in	ADP
easat-3052	292	5	our	our	PRON
easat-3052	292	6	model	model	NOUN
easat-3052	292	7	,	,	PUNCT
easat-3052	292	8	we	we	PRON
easat-3052	292	9	set	set	VERB
easat-3052	292	10	up	up	ADP
easat-3052	292	11	the	the	DET
easat-3052	292	12	hypotheses	hypothesis	NOUN
easat-3052	292	13	as	as	SCONJ
easat-3052	292	14	follows	follow	VERB
easat-3052	292	15	:	:	PUNCT
easat-3052	292	16	ho	ho	ADJ
easat-3052	292	17	:	:	PUNCT
easat-3052	292	18	there	there	PRON
easat-3052	292	19	is	be	VERB
easat-3052	292	20	no	no	DET
easat-3052	292	21	autocorrelation	autocorrelation	NOUN
easat-3052	292	22	h1	h1	NOUN
easat-3052	292	23	:	:	PUNCT
easat-3052	292	24	there	there	PRON
easat-3052	292	25	is	be	VERB
easat-3052	292	26	autocorrelation	autocorrelation	NOUN
easat-3052	292	27	4897	4897	NUM
easat-3052	292	28	edelweiss	edelweiss	PROPN
easat-3052	292	29	applied	apply	VERB
easat-3052	292	30	science	science	NOUN
easat-3052	292	31	and	and	CCONJ
easat-3052	292	32	technology	technology	NOUN
easat-3052	292	33	issn	issn	PROPN
easat-3052	292	34	:	:	PUNCT
easat-3052	292	35	2576	2576	NUM
easat-3052	292	36	-	-	SYM
easat-3052	292	37	8484	8484	NUM
easat-3052	292	38	vol	vol	NOUN
easat-3052	292	39	.	.	PROPN
easat-3052	292	40	8	8	NUM
easat-3052	292	41	,	,	PUNCT
easat-3052	292	42	no	no	INTJ
easat-3052	292	43	.	.	NOUN
easat-3052	293	1	6	6	NUM
easat-3052	293	2	:	:	SYM
easat-3052	293	3	4884	4884	NUM
easat-3052	293	4	-	-	SYM
easat-3052	293	5	4902	4902	NUM
easat-3052	293	6	,	,	PUNCT
easat-3052	293	7	2024	2024	NUM
easat-3052	293	8	doi	doi	NOUN
easat-3052	293	9	:	:	PUNCT
easat-3052	293	10	10.55214/25768484.v8i6.3052	10.55214/25768484.v8i6.3052	NUM
easat-3052	293	11	©	©	ADP
easat-3052	293	12	2024	2024	NUM
easat-3052	293	13	by	by	ADP
easat-3052	293	14	the	the	DET
easat-3052	293	15	author	author	NOUN
easat-3052	293	16	;	;	PUNCT
easat-3052	293	17	licensee	licensee	PROPN
easat-3052	293	18	learning	learning	NOUN
easat-3052	293	19	gate	gate	NOUN
easat-3052	293	20	as	as	ADP
easat-3052	293	21	a	a	DET
easat-3052	293	22	basic	basic	ADJ
easat-3052	293	23	rule	rule	NOUN
easat-3052	293	24	,	,	PUNCT
easat-3052	293	25	if	if	SCONJ
easat-3052	293	26	the	the	DET
easat-3052	293	27	p	p	NOUN
easat-3052	293	28	-	-	PUNCT
easat-3052	293	29	value	value	NOUN
easat-3052	293	30	<	<	X
easat-3052	293	31	0.05	0.05	NUM
easat-3052	293	32	,	,	PUNCT
easat-3052	293	33	we	we	PRON
easat-3052	293	34	reject	reject	VERB
easat-3052	293	35	ho	ho	PROPN
easat-3052	293	36	.	.	PUNCT
easat-3052	294	1	since	since	SCONJ
easat-3052	294	2	the	the	DET
easat-3052	294	3	probability	probability	NOUN
easat-3052	294	4	of	of	ADP
easat-3052	294	5	the	the	DET
easat-3052	294	6	f	f	NOUN
easat-3052	294	7	-	-	PUNCT
easat-3052	294	8	statistic	statistic	NOUN
easat-3052	294	9	is	be	AUX
easat-3052	294	10	0.0539	0.0539	NUM
easat-3052	294	11	,	,	PUNCT
easat-3052	294	12	which	which	PRON
easat-3052	294	13	is	be	AUX
easat-3052	294	14	greater	great	ADJ
easat-3052	294	15	than	than	ADP
easat-3052	294	16	0.05	0.05	NUM
easat-3052	294	17	,	,	PUNCT
easat-3052	294	18	we	we	PRON
easat-3052	294	19	can	can	AUX
easat-3052	294	20	say	say	VERB
easat-3052	294	21	that	that	SCONJ
easat-3052	294	22	we	we	PRON
easat-3052	294	23	accept	accept	VERB
easat-3052	294	24	the	the	DET
easat-3052	294	25	null	null	ADJ
easat-3052	294	26	hypothesis	hypothesis	NOUN
easat-3052	294	27	and	and	CCONJ
easat-3052	294	28	reject	reject	VERB
easat-3052	294	29	the	the	DET
easat-3052	294	30	alternative	alternative	ADJ
easat-3052	294	31	hypothesis	hypothesis	NOUN
easat-3052	294	32	,	,	PUNCT
easat-3052	294	33	meaning	mean	VERB
easat-3052	294	34	that	that	SCONJ
easat-3052	294	35	there	there	PRON
easat-3052	294	36	is	be	VERB
easat-3052	294	37	no	no	DET
easat-3052	294	38	autocorrelation	autocorrelation	NOUN
easat-3052	294	39	in	in	ADP
easat-3052	294	40	our	our	PRON
easat-3052	294	41	model	model	NOUN
easat-3052	294	42	.	.	PUNCT
easat-3052	295	1	in	in	ADP
easat-3052	295	2	this	this	DET
easat-3052	295	3	way	way	NOUN
easat-3052	295	4	,	,	PUNCT
easat-3052	295	5	we	we	PRON
easat-3052	295	6	have	have	AUX
easat-3052	295	7	eliminated	eliminate	VERB
easat-3052	295	8	autocorrelation	autocorrelation	NOUN
easat-3052	295	9	.	.	PUNCT
easat-3052	296	1	table	table	NOUN
easat-3052	296	2	8	8	NUM
easat-3052	296	3	.	.	PUNCT
easat-3052	296	4	shows	show	VERB
easat-3052	296	5	the	the	DET
easat-3052	296	6	autocorrelation	autocorrelation	NOUN
easat-3052	296	7	test	test	NOUN
easat-3052	296	8	.	.	PUNCT
easat-3052	297	1	breusch	breusch	PROPN
easat-3052	297	2	-	-	PUNCT
easat-3052	297	3	godfrey	godfrey	NOUN
easat-3052	297	4	serial	serial	ADJ
easat-3052	297	5	correlation	correlation	NOUN
easat-3052	297	6	lm	lm	INTJ
easat-3052	297	7	test	test	NOUN
easat-3052	297	8	:	:	PUNCT
easat-3052	298	1	f	f	X
easat-3052	298	2	-	-	PUNCT
easat-3052	298	3	statistic	statistic	VERB
easat-3052	298	4	2.972243	2.972243	NUM
easat-3052	298	5	prob	prob	NOUN
easat-3052	298	6	.	.	PUNCT
easat-3052	299	1	f	f	PROPN
easat-3052	299	2	(	(	PUNCT
easat-3052	299	3	2,374	2,374	NUM
easat-3052	299	4	)	)	PUNCT
easat-3052	300	1	0.0539	0.0539	NUM
easat-3052	300	2	obs.*r	obs.*r	NOUN
easat-3052	300	3	-	-	PUNCT
easat-3052	300	4	squared	square	VERB
easat-3052	300	5	6.152627	6.152627	NUM
easat-3052	300	6	prob	prob	NOUN
easat-3052	300	7	.	.	PUNCT
easat-3052	301	1	chi	chi	ADJ
easat-3052	301	2	-	-	PUNCT
easat-3052	301	3	square	square	ADJ
easat-3052	301	4	(	(	PUNCT
easat-3052	301	5	2	2	NUM
easat-3052	301	6	)	)	PUNCT
easat-3052	301	7	0.0461	0.0461	NUM
easat-3052	301	8	to	to	PART
easat-3052	301	9	test	test	VERB
easat-3052	301	10	for	for	ADP
easat-3052	301	11	heteroskedasticity	heteroskedasticity	NOUN
easat-3052	301	12	in	in	ADP
easat-3052	301	13	our	our	PRON
easat-3052	301	14	model	model	NOUN
easat-3052	301	15	,	,	PUNCT
easat-3052	301	16	we	we	PRON
easat-3052	301	17	formulate	formulate	VERB
easat-3052	301	18	the	the	DET
easat-3052	301	19	hypotheses	hypothesis	NOUN
easat-3052	301	20	as	as	SCONJ
easat-3052	301	21	follows	follow	VERB
easat-3052	301	22	:	:	PUNCT
easat-3052	301	23	ho	ho	ADJ
easat-3052	301	24	:	:	PUNCT
easat-3052	301	25	there	there	PRON
easat-3052	301	26	is	be	VERB
easat-3052	301	27	significant	significant	ADJ
easat-3052	301	28	evidence	evidence	NOUN
easat-3052	301	29	of	of	ADP
easat-3052	301	30	homoskedasticity	homoskedasticity	NOUN
easat-3052	301	31	.	.	PUNCT
easat-3052	302	1	h1	h1	PROPN
easat-3052	302	2	:	:	PUNCT
easat-3052	302	3	there	there	PRON
easat-3052	302	4	is	be	VERB
easat-3052	302	5	significant	significant	ADJ
easat-3052	302	6	evidence	evidence	NOUN
easat-3052	302	7	of	of	ADP
easat-3052	302	8	heteroskedasticity	heteroskedasticity	NOUN
easat-3052	302	9	.	.	PUNCT
easat-3052	303	1	to	to	PART
easat-3052	303	2	check	check	VERB
easat-3052	303	3	for	for	ADP
easat-3052	303	4	the	the	DET
easat-3052	303	5	elimination	elimination	NOUN
easat-3052	303	6	of	of	ADP
easat-3052	303	7	the	the	DET
easat-3052	303	8	presence	presence	NOUN
easat-3052	303	9	of	of	ADP
easat-3052	303	10	heteroscedasticity	heteroscedasticity	NOUN
easat-3052	303	11	,	,	PUNCT
easat-3052	303	12	we	we	PRON
easat-3052	303	13	do	do	VERB
easat-3052	303	14	the	the	DET
easat-3052	303	15	test	test	NOUN
easat-3052	303	16	.	.	PUNCT
easat-3052	304	1	table	table	NOUN
easat-3052	304	2	9	9	NUM
easat-3052	304	3	.	.	PUNCT
easat-3052	304	4	shows	show	VERB
easat-3052	304	5	heteroskedasticity	heteroskedasticity	NOUN
easat-3052	304	6	test	test	NOUN
easat-3052	304	7	:	:	PUNCT
easat-3052	304	8	breusch	breusch	ADJ
easat-3052	304	9	-	-	PUNCT
easat-3052	304	10	pagan	pagan	ADJ
easat-3052	304	11	-	-	PUNCT
easat-3052	304	12	godfrey	godfrey	NOUN
easat-3052	304	13	.	.	PUNCT
easat-3052	305	1	f	f	X
easat-3052	305	2	-	-	PUNCT
easat-3052	305	3	statistic	statistic	NOUN
easat-3052	305	4	1.873447	1.873447	NUM
easat-3052	305	5	prob	prob	NOUN
easat-3052	305	6	.	.	PUNCT
easat-3052	306	1	f	f	PROPN
easat-3052	306	2	(	(	PUNCT
easat-3052	306	3	9,374	9,374	NUM
easat-3052	306	4	)	)	PUNCT
easat-3052	306	5	0.0590	0.0590	NUM
easat-3052	307	1	obs.*r	obs.*r	NOUN
easat-3052	307	2	-	-	PUNCT
easat-3052	307	3	squared	square	VERB
easat-3052	307	4	16.23860	16.23860	NUM
easat-3052	307	5	prob	prob	NOUN
easat-3052	307	6	.	.	PUNCT
easat-3052	308	1	chi	chi	ADJ
easat-3052	308	2	-	-	PUNCT
easat-3052	308	3	square	square	ADJ
easat-3052	308	4	(	(	PUNCT
easat-3052	308	5	9	9	NUM
easat-3052	308	6	)	)	PUNCT
easat-3052	308	7	0.0621	0.0621	NUM
easat-3052	308	8	scaled	scale	VERB
easat-3052	308	9	explained	explain	VERB
easat-3052	308	10	ss	ss	PROPN
easat-3052	308	11	80.82047	80.82047	NUM
easat-3052	308	12	prob	prob	NOUN
easat-3052	308	13	.	.	PUNCT
easat-3052	309	1	chi	chi	ADJ
easat-3052	309	2	-	-	PUNCT
easat-3052	309	3	square	square	ADJ
easat-3052	309	4	(	(	PUNCT
easat-3052	309	5	9	9	NUM
easat-3052	309	6	)	)	PUNCT
easat-3052	309	7	0.0000	0.0000	NUM
easat-3052	309	8	as	as	ADP
easat-3052	309	9	a	a	DET
easat-3052	309	10	basic	basic	ADJ
easat-3052	309	11	rule	rule	NOUN
easat-3052	309	12	,	,	PUNCT
easat-3052	309	13	if	if	SCONJ
easat-3052	309	14	the	the	DET
easat-3052	309	15	p	p	NOUN
easat-3052	309	16	-	-	PUNCT
easat-3052	309	17	value	value	NOUN
easat-3052	309	18	<	<	X
easat-3052	309	19	0.05	0.05	NUM
easat-3052	309	20	,	,	PUNCT
easat-3052	309	21	we	we	PRON
easat-3052	309	22	reject	reject	VERB
easat-3052	309	23	ho	ho	PROPN
easat-3052	309	24	.	.	PROPN
easat-3052	310	1	since	since	SCONJ
easat-3052	310	2	the	the	DET
easat-3052	310	3	probabilities	probability	NOUN
easat-3052	310	4	of	of	ADP
easat-3052	310	5	the	the	DET
easat-3052	310	6	f	f	NOUN
easat-3052	310	7	-	-	PUNCT
easat-3052	310	8	statistic	statistic	NOUN
easat-3052	310	9	and	and	CCONJ
easat-3052	310	10	chisquare	chisquare	NOUN
easat-3052	310	11	are	be	AUX
easat-3052	310	12	0.059	0.059	NUM
easat-3052	310	13	and	and	CCONJ
easat-3052	310	14	0.0621	0.0621	NUM
easat-3052	310	15	,	,	PUNCT
easat-3052	310	16	respectively	respectively	ADV
easat-3052	310	17	,	,	PUNCT
easat-3052	310	18	which	which	PRON
easat-3052	310	19	are	be	AUX
easat-3052	310	20	greater	great	ADJ
easat-3052	310	21	than	than	ADP
easat-3052	310	22	0.05	0.05	NUM
easat-3052	310	23	,	,	PUNCT
easat-3052	310	24	we	we	PRON
easat-3052	310	25	can	can	AUX
easat-3052	310	26	say	say	VERB
easat-3052	310	27	that	that	SCONJ
easat-3052	310	28	we	we	PRON
easat-3052	310	29	accept	accept	VERB
easat-3052	310	30	the	the	DET
easat-3052	310	31	null	null	ADJ
easat-3052	310	32	hypothesis	hypothesis	NOUN
easat-3052	310	33	and	and	CCONJ
easat-3052	310	34	reject	reject	VERB
easat-3052	310	35	the	the	DET
easat-3052	310	36	alternative	alternative	ADJ
easat-3052	310	37	hypothesis	hypothesis	NOUN
easat-3052	310	38	,	,	PUNCT
easat-3052	310	39	indicating	indicate	VERB
easat-3052	310	40	that	that	SCONJ
easat-3052	310	41	there	there	PRON
easat-3052	310	42	is	be	VERB
easat-3052	310	43	significant	significant	ADJ
easat-3052	310	44	evidence	evidence	NOUN
easat-3052	310	45	of	of	ADP
easat-3052	310	46	homoscedasticity	homoscedasticity	NOUN
easat-3052	310	47	,	,	PUNCT
easat-3052	310	48	or	or	CCONJ
easat-3052	310	49	we	we	PRON
easat-3052	310	50	are	be	AUX
easat-3052	310	51	not	not	PART
easat-3052	310	52	facing	face	VERB
easat-3052	310	53	heteroscedasticity	heteroscedasticity	NOUN
easat-3052	310	54	.	.	PUNCT
easat-3052	311	1	in	in	ADP
easat-3052	311	2	this	this	DET
easat-3052	311	3	case	case	NOUN
easat-3052	311	4	,	,	PUNCT
easat-3052	311	5	the	the	DET
easat-3052	311	6	residuals	residual	NOUN
easat-3052	311	7	are	be	AUX
easat-3052	311	8	homoscedastic	homoscedastic	ADJ
easat-3052	311	9	.	.	PUNCT
easat-3052	312	1	thus	thus	ADV
easat-3052	312	2	,	,	PUNCT
easat-3052	312	3	the	the	DET
easat-3052	312	4	tests	test	NOUN
easat-3052	312	5	for	for	ADP
easat-3052	312	6	autocorrelation	autocorrelation	NOUN
easat-3052	312	7	and	and	CCONJ
easat-3052	312	8	heteroscedasticity	heteroscedasticity	NOUN
easat-3052	312	9	pass	pass	VERB
easat-3052	312	10	with	with	ADP
easat-3052	312	11	high	high	ADJ
easat-3052	312	12	reliability	reliability	NOUN
easat-3052	312	13	.	.	PUNCT
easat-3052	313	1	we	we	PRON
easat-3052	313	2	can	can	AUX
easat-3052	313	3	refer	refer	VERB
easat-3052	313	4	to	to	ADP
easat-3052	313	5	the	the	DET
easat-3052	313	6	following	follow	VERB
easat-3052	313	7	table	table	NOUN
easat-3052	313	8	that	that	PRON
easat-3052	313	9	comes	come	VERB
easat-3052	313	10	with	with	ADP
easat-3052	313	11	the	the	DET
easat-3052	313	12	discussion	discussion	NOUN
easat-3052	313	13	on	on	ADP
easat-3052	313	14	autocorrelation	autocorrelation	NOUN
easat-3052	313	15	diagnostics	diagnostic	NOUN
easat-3052	313	16	.	.	PUNCT
easat-3052	314	1	the	the	DET
easat-3052	314	2	q	q	PROPN
easat-3052	314	3	statistic	statistic	NOUN
easat-3052	314	4	is	be	AUX
easat-3052	314	5	often	often	ADV
easat-3052	314	6	preferred	prefer	VERB
easat-3052	314	7	by	by	ADP
easat-3052	314	8	researchers	researcher	NOUN
easat-3052	314	9	,	,	PUNCT
easat-3052	314	10	and	and	CCONJ
easat-3052	314	11	it	it	PRON
easat-3052	314	12	is	be	AUX
easat-3052	314	13	noted	note	VERB
easat-3052	314	14	that	that	SCONJ
easat-3052	314	15	the	the	DET
easat-3052	314	16	probabilities	probability	NOUN
easat-3052	314	17	are	be	AUX
easat-3052	314	18	higher	high	ADJ
easat-3052	314	19	than	than	ADP
easat-3052	314	20	5	5	NUM
easat-3052	314	21	%	%	NOUN
easat-3052	314	22	,	,	PUNCT
easat-3052	314	23	and	and	CCONJ
easat-3052	314	24	that	that	SCONJ
easat-3052	314	25	the	the	DET
easat-3052	314	26	values	value	NOUN
easat-3052	314	27	of	of	ADP
easat-3052	314	28	the	the	DET
easat-3052	314	29	graphs	graph	NOUN
easat-3052	314	30	are	be	AUX
easat-3052	314	31	within	within	ADP
easat-3052	314	32	the	the	DET
easat-3052	314	33	limits	limit	NOUN
easat-3052	314	34	,	,	PUNCT
easat-3052	314	35	indicating	indicate	VERB
easat-3052	314	36	that	that	SCONJ
easat-3052	314	37	the	the	DET
easat-3052	314	38	model	model	NOUN
easat-3052	314	39	does	do	AUX
easat-3052	314	40	not	not	PART
easat-3052	314	41	"	"	PUNCT
easat-3052	314	42	suffer	suffer	VERB
easat-3052	314	43	"	"	PUNCT
easat-3052	314	44	from	from	ADP
easat-3052	314	45	autocorrelation	autocorrelation	NOUN
easat-3052	314	46	of	of	ADP
easat-3052	314	47	the	the	DET
easat-3052	314	48	error	error	NOUN
easat-3052	314	49	term	term	NOUN
easat-3052	314	50	,	,	PUNCT
easat-3052	314	51	meaning	mean	VERB
easat-3052	314	52	that	that	SCONJ
easat-3052	314	53	the	the	DET
easat-3052	314	54	estimated	estimate	VERB
easat-3052	314	55	model	model	NOUN
easat-3052	314	56	is	be	AUX
easat-3052	314	57	sound	sound	ADJ
easat-3052	314	58	.	.	PUNCT
easat-3052	315	1	4.3	4.3	NUM
easat-3052	315	2	.	.	PUNCT
easat-3052	316	1	regression	regression	NOUN
easat-3052	316	2	results	result	NOUN
easat-3052	316	3	testing	test	VERB
easat-3052	316	4	the	the	DET
easat-3052	316	5	more	more	ADV
easat-3052	316	6	suitable	suitable	ADJ
easat-3052	316	7	model	model	NOUN
easat-3052	316	8	:	:	PUNCT
easat-3052	316	9	fem	fem	NOUN
easat-3052	316	10	or	or	CCONJ
easat-3052	316	11	rem	rem	VERB
easat-3052	316	12	to	to	PART
easat-3052	316	13	test	test	VERB
easat-3052	316	14	which	which	DET
easat-3052	316	15	model	model	NOUN
easat-3052	316	16	is	be	AUX
easat-3052	316	17	more	more	ADV
easat-3052	316	18	suitable	suitable	ADJ
easat-3052	316	19	,	,	PUNCT
easat-3052	316	20	fem	fem	NOUN
easat-3052	316	21	or	or	CCONJ
easat-3052	316	22	rem	rem	X
easat-3052	316	23	,	,	PUNCT
easat-3052	316	24	we	we	PRON
easat-3052	316	25	formulate	formulate	VERB
easat-3052	316	26	the	the	DET
easat-3052	316	27	hypotheses	hypothesis	NOUN
easat-3052	316	28	as	as	SCONJ
easat-3052	316	29	follows	follow	VERB
easat-3052	316	30	:	:	PUNCT
easat-3052	316	31	ho	ho	ADJ
easat-3052	316	32	:	:	PUNCT
easat-3052	316	33	the	the	DET
easat-3052	316	34	random	random	ADJ
easat-3052	316	35	effects	effect	NOUN
easat-3052	316	36	model	model	NOUN
easat-3052	316	37	(	(	PUNCT
easat-3052	316	38	rem	rem	NOUN
easat-3052	316	39	)	)	PUNCT
easat-3052	316	40	is	be	AUX
easat-3052	316	41	more	more	ADV
easat-3052	316	42	suitable	suitable	ADJ
easat-3052	316	43	.	.	PUNCT
easat-3052	317	1	h1	h1	PROPN
easat-3052	317	2	:	:	PUNCT
easat-3052	317	3	the	the	DET
easat-3052	317	4	fixed	fix	VERB
easat-3052	317	5	effects	effect	NOUN
easat-3052	317	6	model	model	NOUN
easat-3052	317	7	(	(	PUNCT
easat-3052	317	8	fem	fem	NOUN
easat-3052	317	9	)	)	PUNCT
easat-3052	317	10	is	be	AUX
easat-3052	317	11	more	more	ADV
easat-3052	317	12	suitable	suitable	ADJ
easat-3052	317	13	.	.	PUNCT
easat-3052	318	1	to	to	PART
easat-3052	318	2	determine	determine	VERB
easat-3052	318	3	which	which	DET
easat-3052	318	4	model	model	NOUN
easat-3052	318	5	is	be	AUX
easat-3052	318	6	more	more	ADV
easat-3052	318	7	appropriate	appropriate	ADJ
easat-3052	318	8	,	,	PUNCT
easat-3052	318	9	we	we	PRON
easat-3052	318	10	first	first	ADV
easat-3052	318	11	need	need	VERB
easat-3052	318	12	to	to	PART
easat-3052	318	13	perform	perform	VERB
easat-3052	318	14	the	the	DET
easat-3052	318	15	regression	regression	NOUN
easat-3052	318	16	with	with	ADP
easat-3052	318	17	random	random	ADJ
easat-3052	318	18	effects	effect	NOUN
easat-3052	318	19	(	(	PUNCT
easat-3052	318	20	rem	rem	NOUN
easat-3052	318	21	)	)	PUNCT
easat-3052	318	22	as	as	SCONJ
easat-3052	318	23	follows	follow	VERB
easat-3052	318	24	:	:	PUNCT
easat-3052	318	25	in	in	ADP
easat-3052	318	26	this	this	DET
easat-3052	318	27	case	case	NOUN
easat-3052	318	28	,	,	PUNCT
easat-3052	318	29	to	to	PART
easat-3052	318	30	evaluate	evaluate	VERB
easat-3052	318	31	the	the	DET
easat-3052	318	32	more	more	ADV
easat-3052	318	33	suitable	suitable	ADJ
easat-3052	318	34	model	model	NOUN
easat-3052	318	35	,	,	PUNCT
easat-3052	318	36	we	we	PRON
easat-3052	318	37	conduct	conduct	VERB
easat-3052	318	38	the	the	DET
easat-3052	318	39	hausman	hausman	ADJ
easat-3052	318	40	test	test	NOUN
easat-3052	318	41	between	between	ADP
easat-3052	318	42	the	the	DET
easat-3052	318	43	random	random	ADJ
easat-3052	318	44	effects	effect	NOUN
easat-3052	318	45	model	model	NOUN
easat-3052	318	46	(	(	PUNCT
easat-3052	318	47	rem	rem	NOUN
easat-3052	318	48	)	)	PUNCT
easat-3052	318	49	and	and	CCONJ
easat-3052	318	50	the	the	DET
easat-3052	318	51	fixed	fix	VERB
easat-3052	318	52	effects	effect	NOUN
easat-3052	318	53	model	model	NOUN
easat-3052	318	54	(	(	PUNCT
easat-3052	318	55	fem	fem	PROPN
easat-3052	318	56	)	)	PUNCT
easat-3052	318	57	.	.	PUNCT
easat-3052	319	1	the	the	DET
easat-3052	319	2	result	result	NOUN
easat-3052	319	3	of	of	ADP
easat-3052	319	4	the	the	DET
easat-3052	319	5	probability	probability	NOUN
easat-3052	319	6	will	will	AUX
easat-3052	319	7	indicate	indicate	VERB
easat-3052	319	8	which	which	DET
easat-3052	319	9	model	model	NOUN
easat-3052	319	10	is	be	AUX
easat-3052	319	11	more	more	ADV
easat-3052	319	12	appropriate	appropriate	ADJ
easat-3052	319	13	for	for	ADP
easat-3052	319	14	explaining	explain	VERB
easat-3052	319	15	the	the	DET
easat-3052	319	16	impact	impact	NOUN
easat-3052	319	17	of	of	ADP
easat-3052	319	18	independent	independent	ADJ
easat-3052	319	19	variables	variable	NOUN
easat-3052	319	20	on	on	ADP
easat-3052	319	21	the	the	DET
easat-3052	319	22	dependent	dependent	ADJ
easat-3052	319	23	variable	variable	NOUN
easat-3052	319	24	.	.	PUNCT
easat-3052	320	1	table	table	NOUN
easat-3052	320	2	9	9	NUM
easat-3052	320	3	.	.	PUNCT
easat-3052	320	4	shows	show	VERB
easat-3052	320	5	hausman	hausman	PROPN
easat-3052	320	6	test	test	NOUN
easat-3052	320	7	.	.	PUNCT
easat-3052	321	1	test	test	NOUN
easat-3052	321	2	cross	cross	ADJ
easat-3052	321	3	-	-	ADJ
easat-3052	321	4	section	section	ADJ
easat-3052	321	5	random	random	ADJ
easat-3052	321	6	effects	effect	NOUN
easat-3052	321	7	test	test	NOUN
easat-3052	321	8	summary	summary	NOUN
easat-3052	321	9	chi	chi	PROPN
easat-3052	321	10	-	-	PUNCT
easat-3052	321	11	sq	sq	PROPN
easat-3052	321	12	.	.	PROPN
easat-3052	321	13	statistic	statistic	ADJ
easat-3052	321	14	chi	chi	PROPN
easat-3052	321	15	-	-	PUNCT
easat-3052	321	16	sq	sq	PROPN
easat-3052	321	17	.	.	PUNCT
easat-3052	321	18	d.f	d.f	PROPN
easat-3052	321	19	.	.	PROPN
easat-3052	321	20	prob	prob	PROPN
easat-3052	321	21	.	.	PUNCT
easat-3052	322	1	cross	cross	ADJ
easat-3052	322	2	-	-	ADJ
easat-3052	322	3	section	section	ADJ
easat-3052	322	4	random	random	ADJ
easat-3052	322	5	64.544212	64.544212	NUM
easat-3052	322	6	9	9	NUM
easat-3052	322	7	0.0000	0.0000	NUM
easat-3052	322	8	4898	4898	NUM
easat-3052	322	9	edelweiss	edelweiss	PROPN
easat-3052	322	10	applied	apply	VERB
easat-3052	322	11	science	science	NOUN
easat-3052	322	12	and	and	CCONJ
easat-3052	322	13	technology	technology	NOUN
easat-3052	322	14	issn	issn	PROPN
easat-3052	322	15	:	:	PUNCT
easat-3052	322	16	2576	2576	NUM
easat-3052	322	17	-	-	SYM
easat-3052	322	18	8484	8484	NUM
easat-3052	322	19	vol	vol	NOUN
easat-3052	322	20	.	.	PROPN
easat-3052	323	1	8	8	NUM
easat-3052	323	2	,	,	PUNCT
easat-3052	323	3	no	no	INTJ
easat-3052	323	4	.	.	NOUN
easat-3052	324	1	6	6	NUM
easat-3052	324	2	:	:	SYM
easat-3052	324	3	4884	4884	NUM
easat-3052	324	4	-	-	SYM
easat-3052	324	5	4902	4902	NUM
easat-3052	324	6	,	,	PUNCT
easat-3052	324	7	2024	2024	NUM
easat-3052	324	8	doi	doi	NOUN
easat-3052	324	9	:	:	PUNCT
easat-3052	324	10	10.55214/25768484.v8i6.3052	10.55214/25768484.v8i6.3052	NUM
easat-3052	324	11	©	©	ADP
easat-3052	324	12	2024	2024	NUM
easat-3052	324	13	by	by	ADP
easat-3052	324	14	the	the	DET
easat-3052	324	15	author	author	NOUN
easat-3052	324	16	;	;	PUNCT
easat-3052	324	17	licensee	licensee	PROPN
easat-3052	324	18	learning	learning	NOUN
easat-3052	324	19	gate	gate	NOUN
easat-3052	324	20	according	accord	VERB
easat-3052	324	21	to	to	ADP
easat-3052	324	22	the	the	DET
easat-3052	324	23	basic	basic	ADJ
easat-3052	324	24	rule	rule	NOUN
easat-3052	324	25	,	,	PUNCT
easat-3052	324	26	if	if	SCONJ
easat-3052	324	27	the	the	DET
easat-3052	324	28	p	p	NOUN
easat-3052	324	29	-	-	PUNCT
easat-3052	324	30	value	value	NOUN
easat-3052	324	31	<	<	X
easat-3052	324	32	0.05	0.05	NUM
easat-3052	324	33	,	,	PUNCT
easat-3052	324	34	then	then	ADV
easat-3052	324	35	we	we	PRON
easat-3052	324	36	reject	reject	VERB
easat-3052	324	37	ho	ho	PROPN
easat-3052	324	38	.	.	PUNCT
easat-3052	325	1	if	if	SCONJ
easat-3052	325	2	we	we	PRON
easat-3052	325	3	have	have	VERB
easat-3052	325	4	a	a	DET
easat-3052	325	5	statistically	statistically	ADV
easat-3052	325	6	significant	significant	ADJ
easat-3052	325	7	p	p	NOUN
easat-3052	325	8	-	-	PUNCT
easat-3052	325	9	value	value	NOUN
easat-3052	325	10	,	,	PUNCT
easat-3052	325	11	we	we	PRON
easat-3052	325	12	can	can	AUX
easat-3052	325	13	say	say	VERB
easat-3052	325	14	that	that	SCONJ
easat-3052	325	15	we	we	PRON
easat-3052	325	16	should	should	AUX
easat-3052	325	17	choose	choose	VERB
easat-3052	325	18	the	the	DET
easat-3052	325	19	fixed	fix	VERB
easat-3052	325	20	effects	effect	NOUN
easat-3052	325	21	model	model	NOUN
easat-3052	325	22	(	(	PUNCT
easat-3052	325	23	fem	fem	PROPN
easat-3052	325	24	)	)	PUNCT
easat-3052	325	25	;	;	PUNCT
easat-3052	325	26	otherwise	otherwise	ADV
easat-3052	325	27	,	,	PUNCT
easat-3052	325	28	we	we	PRON
easat-3052	325	29	would	would	AUX
easat-3052	325	30	choose	choose	VERB
easat-3052	325	31	the	the	DET
easat-3052	325	32	random	random	ADJ
easat-3052	325	33	effects	effect	NOUN
easat-3052	325	34	model	model	NOUN
easat-3052	325	35	(	(	PUNCT
easat-3052	325	36	rem	rem	NOUN
easat-3052	325	37	)	)	PUNCT
easat-3052	325	38	.	.	PUNCT
easat-3052	326	1	since	since	SCONJ
easat-3052	326	2	the	the	DET
easat-3052	326	3	hausman	hausman	PROPN
easat-3052	326	4	test	test	NOUN
easat-3052	326	5	resulted	result	VERB
easat-3052	326	6	in	in	ADP
easat-3052	326	7	a	a	DET
easat-3052	326	8	chi	chi	ADJ
easat-3052	326	9	-	-	PUNCT
easat-3052	326	10	square	square	ADJ
easat-3052	326	11	statistical	statistical	ADJ
easat-3052	326	12	probability	probability	NOUN
easat-3052	326	13	of	of	ADP
easat-3052	326	14	0.0000	0.0000	NUM
easat-3052	326	15	,	,	PUNCT
easat-3052	326	16	which	which	PRON
easat-3052	326	17	is	be	AUX
easat-3052	326	18	less	less	ADJ
easat-3052	326	19	than	than	ADP
easat-3052	326	20	0.05	0.05	NUM
easat-3052	326	21	,	,	PUNCT
easat-3052	326	22	we	we	PRON
easat-3052	326	23	can	can	AUX
easat-3052	326	24	conclude	conclude	VERB
easat-3052	326	25	that	that	SCONJ
easat-3052	326	26	we	we	PRON
easat-3052	326	27	reject	reject	VERB
easat-3052	326	28	the	the	DET
easat-3052	326	29	null	null	ADJ
easat-3052	326	30	hypothesis	hypothesis	NOUN
easat-3052	326	31	and	and	CCONJ
easat-3052	326	32	accept	accept	VERB
easat-3052	326	33	the	the	DET
easat-3052	326	34	alternative	alternative	ADJ
easat-3052	326	35	hypothesis	hypothesis	NOUN
easat-3052	326	36	.	.	PUNCT
easat-3052	327	1	this	this	PRON
easat-3052	327	2	means	mean	VERB
easat-3052	327	3	that	that	SCONJ
easat-3052	327	4	the	the	DET
easat-3052	327	5	more	more	ADV
easat-3052	327	6	suitable	suitable	ADJ
easat-3052	327	7	model	model	NOUN
easat-3052	327	8	to	to	PART
easat-3052	327	9	be	be	AUX
easat-3052	327	10	used	use	VERB
easat-3052	327	11	in	in	ADP
easat-3052	327	12	our	our	PRON
easat-3052	327	13	study	study	NOUN
easat-3052	327	14	is	be	AUX
easat-3052	327	15	the	the	DET
easat-3052	327	16	fixed	fix	VERB
easat-3052	327	17	effects	effect	NOUN
easat-3052	327	18	model	model	NOUN
easat-3052	327	19	(	(	PUNCT
easat-3052	327	20	fem	fem	PROPN
easat-3052	327	21	)	)	PUNCT
easat-3052	327	22	.	.	PUNCT
easat-3052	328	1	employing	employ	VERB
easat-3052	328	2	panel	panel	NOUN
easat-3052	328	3	data	datum	NOUN
easat-3052	328	4	(	(	PUNCT
easat-3052	328	5	cross	cross	NOUN
easat-3052	328	6	pooled	pool	VERB
easat-3052	328	7	sectional	sectional	ADJ
easat-3052	328	8	data	datum	NOUN
easat-3052	328	9	)	)	PUNCT
easat-3052	328	10	analysis	analysis	NOUN
easat-3052	328	11	(	(	PUNCT
easat-3052	328	12	gujarati	gujarati	PROPN
easat-3052	328	13	,	,	PUNCT
easat-3052	328	14	2004	2004	NUM
easat-3052	328	15	)	)	PUNCT
easat-3052	328	16	and	and	CCONJ
easat-3052	328	17	using	use	VERB
easat-3052	328	18	eviews	eviews	PROPN
easat-3052	328	19	12	12	NUM
easat-3052	328	20	statistical	statistical	ADJ
easat-3052	328	21	package	package	NOUN
easat-3052	328	22	we	we	PRON
easat-3052	328	23	obtain	obtain	VERB
easat-3052	328	24	the	the	DET
easat-3052	328	25	following	follow	VERB
easat-3052	328	26	output	output	NOUN
easat-3052	328	27	of	of	ADP
easat-3052	328	28	regressions	regression	NOUN
easat-3052	328	29	:	:	PUNCT
easat-3052	328	30	table	table	NOUN
easat-3052	328	31	10	10	NUM
easat-3052	328	32	shows	show	VERB
easat-3052	328	33	summary	summary	NOUN
easat-3052	328	34	of	of	ADP
easat-3052	328	35	fixed	fix	VERB
easat-3052	328	36	effects	effect	NOUN
easat-3052	328	37	(	(	PUNCT
easat-3052	328	38	fem	fem	NOUN
easat-3052	328	39	)	)	PUNCT
easat-3052	328	40	regression	regression	NOUN
easat-3052	328	41	results	result	NOUN
easat-3052	328	42	for	for	ADP
easat-3052	328	43	75	75	NUM
easat-3052	328	44	companies	company	NOUN
easat-3052	328	45	during	during	ADP
easat-3052	328	46	the	the	DET
easat-3052	328	47	period	period	NOUN
easat-3052	328	48	2019	2019	NUM
easat-3052	328	49	-	-	SYM
easat-3052	328	50	2023	2023	NUM
easat-3052	328	51	.	.	PUNCT
easat-3052	329	1	(	(	PUNCT
easat-3052	329	2	regression	regression	NOUN
easat-3052	329	3	result	result	PROPN
easat-3052	329	4	model	model	NOUN
easat-3052	329	5	fem	fem	PROPN
easat-3052	329	6	please	please	INTJ
easat-3052	329	7	refer	refer	VERB
easat-3052	329	8	in	in	ADP
easat-3052	329	9	appendix	appendix	NOUN
easat-3052	329	10	)	)	PUNCT
easat-3052	329	11	table	table	NOUN
easat-3052	329	12	10	10	NUM
easat-3052	329	13	presents	present	VERB
easat-3052	329	14	the	the	DET
easat-3052	329	15	regression	regression	NOUN
easat-3052	329	16	results	result	NOUN
easat-3052	329	17	of	of	ADP
easat-3052	329	18	determinants	determinant	NOUN
easat-3052	329	19	of	of	ADP
easat-3052	329	20	total	total	ADJ
easat-3052	329	21	debt	debt	NOUN
easat-3052	329	22	ratio	ratio	NOUN
easat-3052	329	23	,	,	PUNCT
easat-3052	329	24	long	long	ADJ
easat-3052	329	25	term	term	NOUN
easat-3052	329	26	debt	debt	NOUN
easat-3052	329	27	ratio	ratio	NOUN
easat-3052	329	28	and	and	CCONJ
easat-3052	329	29	short	short	ADJ
easat-3052	329	30	-	-	PUNCT
easat-3052	329	31	term	term	NOUN
easat-3052	329	32	debt	debt	NOUN
easat-3052	329	33	ratio	ratio	NOUN
easat-3052	329	34	of	of	ADP
easat-3052	329	35	the	the	DET
easat-3052	329	36	companies	company	NOUN
easat-3052	329	37	between	between	ADP
easat-3052	329	38	2019	2019	NUM
easat-3052	329	39	and	and	CCONJ
easat-3052	329	40	2023	2023	NUM
easat-3052	329	41	time	time	NOUN
easat-3052	329	42	period	period	NOUN
easat-3052	329	43	.	.	PUNCT
easat-3052	330	1	coefficient	coefficient	NOUN
easat-3052	330	2	of	of	ADP
easat-3052	330	3	determination	determination	NOUN
easat-3052	330	4	r	r	NOUN
easat-3052	330	5	-	-	PUNCT
easat-3052	330	6	squared	square	VERB
easat-3052	330	7	is	be	AUX
easat-3052	330	8	the	the	DET
easat-3052	330	9	measure	measure	NOUN
easat-3052	330	10	of	of	ADP
easat-3052	330	11	proportion	proportion	NOUN
easat-3052	330	12	of	of	ADP
easat-3052	330	13	the	the	DET
easat-3052	330	14	variance	variance	NOUN
easat-3052	330	15	of	of	ADP
easat-3052	330	16	dependent	dependent	ADJ
easat-3052	330	17	variables	variable	NOUN
easat-3052	330	18	about	about	ADP
easat-3052	330	19	its	its	PRON
easat-3052	330	20	mean	mean	NOUN
easat-3052	330	21	that	that	PRON
easat-3052	330	22	is	be	AUX
easat-3052	330	23	explained	explain	VERB
easat-3052	330	24	by	by	ADP
easat-3052	330	25	the	the	DET
easat-3052	330	26	independents	independent	NOUN
easat-3052	330	27	or	or	CCONJ
easat-3052	330	28	predictor	predictor	NOUN
easat-3052	330	29	variables	variable	NOUN
easat-3052	330	30	.	.	PUNCT
easat-3052	331	1	in	in	ADP
easat-3052	331	2	model	model	NOUN
easat-3052	331	3	1	1	NUM
easat-3052	331	4	the	the	DET
easat-3052	331	5	variance	variance	NOUN
easat-3052	331	6	of	of	ADP
easat-3052	331	7	the	the	DET
easat-3052	331	8	dependent	dependent	ADJ
easat-3052	331	9	variables	variable	NOUN
easat-3052	331	10	around	around	ADP
easat-3052	331	11	its	its	PRON
easat-3052	331	12	mean	mean	NOUN
easat-3052	331	13	that	that	PRON
easat-3052	331	14	is	be	AUX
easat-3052	331	15	explained	explain	VERB
easat-3052	331	16	by	by	ADP
easat-3052	331	17	the	the	DET
easat-3052	331	18	independent	independent	ADJ
easat-3052	331	19	or	or	CCONJ
easat-3052	331	20	predictor	predictor	NOUN
easat-3052	331	21	variables	variable	NOUN
easat-3052	331	22	is	be	AUX
easat-3052	331	23	represented	represent	VERB
easat-3052	331	24	by	by	ADP
easat-3052	331	25	r	r	NOUN
easat-3052	331	26	-	-	PUNCT
easat-3052	331	27	squared	square	VERB
easat-3052	331	28	,	,	PUNCT
easat-3052	331	29	which	which	PRON
easat-3052	331	30	is	be	AUX
easat-3052	331	31	0.9415	0.9415	NUM
easat-3052	331	32	.	.	PUNCT
easat-3052	332	1	this	this	PRON
easat-3052	332	2	indicates	indicate	VERB
easat-3052	332	3	that	that	SCONJ
easat-3052	332	4	approximately	approximately	ADV
easat-3052	332	5	94.15	94.15	NUM
easat-3052	332	6	percent	percent	NOUN
easat-3052	332	7	of	of	ADP
easat-3052	332	8	the	the	DET
easat-3052	332	9	variability	variability	NOUN
easat-3052	332	10	in	in	ADP
easat-3052	332	11	the	the	DET
easat-3052	332	12	total	total	ADJ
easat-3052	332	13	debt	debt	NOUN
easat-3052	332	14	ratio	ratio	NOUN
easat-3052	332	15	is	be	AUX
easat-3052	332	16	explained	explain	VERB
easat-3052	332	17	by	by	ADP
easat-3052	332	18	firm	firm	ADJ
easat-3052	332	19	-	-	PUNCT
easat-3052	332	20	specific	specific	ADJ
easat-3052	332	21	factors	factor	NOUN
easat-3052	332	22	.	.	PUNCT
easat-3052	333	1	the	the	DET
easat-3052	333	2	remaining	remain	VERB
easat-3052	333	3	5.85	5.85	NUM
easat-3052	333	4	percent	percent	NOUN
easat-3052	333	5	(	(	PUNCT
easat-3052	333	6	100	100	NUM
easat-3052	333	7	percent	percent	NOUN
easat-3052	333	8	minus	minus	CCONJ
easat-3052	333	9	94.15	94.15	NUM
easat-3052	333	10	percent	percent	NOUN
easat-3052	333	11	)	)	PUNCT
easat-3052	333	12	of	of	ADP
easat-3052	333	13	the	the	DET
easat-3052	333	14	variance	variance	NOUN
easat-3052	333	15	in	in	ADP
easat-3052	333	16	total	total	ADJ
easat-3052	333	17	debt	debt	NOUN
easat-3052	333	18	is	be	AUX
easat-3052	333	19	attributed	attribute	VERB
easat-3052	333	20	to	to	ADP
easat-3052	333	21	other	other	ADJ
easat-3052	333	22	variables	variable	NOUN
easat-3052	333	23	.	.	PUNCT
easat-3052	334	1	the	the	DET
easat-3052	334	2	f	f	NOUN
easat-3052	334	3	-	-	PUNCT
easat-3052	334	4	statistic	statistic	NOUN
easat-3052	334	5	of	of	ADP
easat-3052	334	6	41.26548	41.26548	NUM
easat-3052	334	7	and	and	CCONJ
easat-3052	334	8	a	a	DET
easat-3052	334	9	p	p	NOUN
easat-3052	334	10	-	-	PUNCT
easat-3052	334	11	value	value	NOUN
easat-3052	334	12	(	(	PUNCT
easat-3052	334	13	f	f	X
easat-3052	334	14	)	)	PUNCT
easat-3052	334	15	0.00000	0.00000	NUM
easat-3052	334	16	less	less	ADJ
easat-3052	334	17	than	than	ADP
easat-3052	334	18	0.005	0.005	NUM
easat-3052	334	19	suggest	suggest	VERB
easat-3052	334	20	that	that	SCONJ
easat-3052	334	21	the	the	DET
easat-3052	334	22	model	model	NOUN
easat-3052	334	23	fits	fit	VERB
easat-3052	334	24	the	the	DET
easat-3052	334	25	data	datum	NOUN
easat-3052	334	26	significantly	significantly	ADV
easat-3052	334	27	.	.	PUNCT
easat-3052	335	1	the	the	DET
easat-3052	335	2	regressions	regression	NOUN
easat-3052	335	3	coefficients	coefficient	NOUN
easat-3052	335	4	of	of	ADP
easat-3052	335	5	bt	bt	PROPN
easat-3052	335	6	(	(	PUNCT
easat-3052	335	7	-1	-1	PROPN
easat-3052	335	8	)	)	PUNCT
easat-3052	335	9	,	,	PUNCT
easat-3052	335	10	roe	roe	PROPN
easat-3052	335	11	,	,	PUNCT
easat-3052	335	12	roa	roa	PROPN
easat-3052	335	13	,	,	PUNCT
easat-3052	335	14	mrr	mrr	PROPN
easat-3052	335	15	and	and	CCONJ
easat-3052	335	16	lf	lf	PROPN
easat-3052	335	17	appear	appear	VERB
easat-3052	335	18	significant	significant	ADJ
easat-3052	335	19	in	in	ADP
easat-3052	335	20	determine	determine	NOUN
easat-3052	335	21	the	the	DET
easat-3052	335	22	total	total	ADJ
easat-3052	335	23	debt	debt	NOUN
easat-3052	335	24	ratio	ratio	NOUN
easat-3052	335	25	.	.	PUNCT
easat-3052	336	1	therefore	therefore	ADV
easat-3052	336	2	,	,	PUNCT
easat-3052	336	3	the	the	DET
easat-3052	336	4	first	first	ADJ
easat-3052	336	5	main	main	ADJ
easat-3052	336	6	null	null	ADJ
easat-3052	336	7	hypothesis	hypothesis	NOUN
easat-3052	336	8	is	be	AUX
easat-3052	336	9	rejected	reject	VERB
easat-3052	336	10	which	which	PRON
easat-3052	336	11	indicates	indicate	VERB
easat-3052	336	12	that	that	SCONJ
easat-3052	336	13	there	there	PRON
easat-3052	336	14	is	be	VERB
easat-3052	336	15	a	a	DET
easat-3052	336	16	relationship	relationship	NOUN
easat-3052	336	17	between	between	ADP
easat-3052	336	18	the	the	DET
easat-3052	336	19	selected	select	VERB
easat-3052	336	20	factors	factor	NOUN
easat-3052	336	21	and	and	CCONJ
easat-3052	336	22	total	total	ADJ
easat-3052	336	23	debt	debt	NOUN
easat-3052	336	24	ratio	ratio	NOUN
easat-3052	336	25	of	of	ADP
easat-3052	336	26	the	the	DET
easat-3052	336	27	firms	firm	NOUN
easat-3052	336	28	in	in	ADP
easat-3052	336	29	the	the	DET
easat-3052	336	30	sample	sample	NOUN
easat-3052	336	31	.	.	PUNCT
easat-3052	337	1	the	the	DET
easat-3052	337	2	coefficients	coefficient	NOUN
easat-3052	337	3	for	for	ADP
easat-3052	337	4	roa	roa	PROPN
easat-3052	337	5	,	,	PUNCT
easat-3052	337	6	and	and	CCONJ
easat-3052	337	7	lf	lf	INTJ
easat-3052	337	8	,	,	PUNCT
easat-3052	337	9	are	be	AUX
easat-3052	337	10	-0.677871	-0.677871	ADJ
easat-3052	337	11	and	and	CCONJ
easat-3052	337	12	-0.005979	-0.005979	PRON
easat-3052	337	13	respectively	respectively	ADV
easat-3052	337	14	.	.	PUNCT
easat-3052	338	1	this	this	PRON
easat-3052	338	2	indicates	indicate	VERB
easat-3052	338	3	that	that	SCONJ
easat-3052	338	4	among	among	ADP
easat-3052	338	5	these	these	DET
easat-3052	338	6	variables	variable	NOUN
easat-3052	338	7	(	(	PUNCT
easat-3052	338	8	return	return	VERB
easat-3052	338	9	on	on	ADP
easat-3052	338	10	assets	asset	NOUN
easat-3052	338	11	,	,	PUNCT
easat-3052	338	12	and	and	CCONJ
easat-3052	338	13	liquidity	liquidity	NOUN
easat-3052	338	14	)	)	PUNCT
easat-3052	338	15	and	and	CCONJ
easat-3052	338	16	total	total	ADJ
easat-3052	338	17	term	term	NOUN
easat-3052	338	18	debt	debt	NOUN
easat-3052	338	19	,	,	PUNCT
easat-3052	338	20	there	there	PRON
easat-3052	338	21	is	be	VERB
easat-3052	338	22	a	a	DET
easat-3052	338	23	significant	significant	ADJ
easat-3052	338	24	negative	negative	ADJ
easat-3052	338	25	correlation	correlation	NOUN
easat-3052	338	26	.	.	PUNCT
easat-3052	339	1	among	among	ADP
easat-3052	339	2	other	other	ADJ
easat-3052	339	3	variables	variable	NOUN
easat-3052	339	4	bt	bt	PROPN
easat-3052	339	5	(	(	PUNCT
easat-3052	339	6	-1	-1	INTJ
easat-3052	339	7	)	)	PUNCT
easat-3052	339	8	,	,	PUNCT
easat-3052	339	9	roe	roe	PROPN
easat-3052	339	10	,	,	PUNCT
easat-3052	339	11	mrr	mrr	PROPN
easat-3052	339	12	there	there	PRON
easat-3052	339	13	is	be	VERB
easat-3052	339	14	a	a	DET
easat-3052	339	15	significant	significant	ADJ
easat-3052	339	16	positive	positive	ADJ
easat-3052	339	17	correlation	correlation	NOUN
easat-3052	339	18	.	.	PUNCT
easat-3052	340	1	the	the	DET
easat-3052	340	2	impact	impact	NOUN
easat-3052	340	3	of	of	ADP
easat-3052	340	4	roa	roa	NOUN
easat-3052	340	5	on	on	ADP
easat-3052	340	6	the	the	DET
easat-3052	340	7	total	total	ADJ
easat-3052	340	8	term	term	NOUN
easat-3052	340	9	debt	debt	NOUN
easat-3052	340	10	ratio	ratio	NOUN
easat-3052	340	11	is	be	AUX
easat-3052	340	12	particularly	particularly	ADV
easat-3052	340	13	strong	strong	ADJ
easat-3052	340	14	;	;	PUNCT
easat-3052	340	15	specifically	specifically	ADV
easat-3052	340	16	,	,	PUNCT
easat-3052	340	17	a	a	DET
easat-3052	340	18	1	1	NUM
easat-3052	340	19	percent	percent	NOUN
easat-3052	340	20	decrease	decrease	NOUN
easat-3052	340	21	in	in	ADP
easat-3052	340	22	roa	roa	PROPN
easat-3052	340	23	and	and	CCONJ
easat-3052	340	24	lf	lf	INTJ
easat-3052	340	25	,	,	PUNCT
easat-3052	340	26	while	while	SCONJ
easat-3052	340	27	keeping	keep	VERB
easat-3052	340	28	other	other	ADJ
easat-3052	340	29	variables	variable	NOUN
easat-3052	340	30	unchanged	unchanged	ADJ
easat-3052	340	31	,	,	PUNCT
easat-3052	340	32	would	would	AUX
easat-3052	340	33	lead	lead	VERB
easat-3052	340	34	to	to	ADP
easat-3052	340	35	an	an	DET
easat-3052	340	36	increased	increase	VERB
easat-3052	340	37	tendency	tendency	NOUN
easat-3052	340	38	for	for	SCONJ
easat-3052	340	39	firms	firm	NOUN
easat-3052	340	40	to	to	PART
easat-3052	340	41	rely	rely	VERB
easat-3052	340	42	on	on	ADP
easat-3052	340	43	total	total	ADJ
easat-3052	340	44	-	-	PUNCT
easat-3052	340	45	term	term	NOUN
easat-3052	340	46	debt	debt	NOUN
easat-3052	340	47	by	by	ADP
easat-3052	340	48	approximately	approximately	ADV
easat-3052	340	49	67.78	67.78	NUM
easat-3052	340	50	percent	percent	NOUN
easat-3052	340	51	and	and	CCONJ
easat-3052	340	52	0.59	0.59	NUM
easat-3052	340	53	percent	percent	NOUN
easat-3052	340	54	,	,	PUNCT
easat-3052	340	55	respectively	respectively	ADV
easat-3052	340	56	.	.	PUNCT
easat-3052	341	1	in	in	ADP
easat-3052	341	2	contrast	contrast	NOUN
easat-3052	341	3	,	,	PUNCT
easat-3052	341	4	the	the	DET
easat-3052	341	5	positive	positive	ADJ
easat-3052	341	6	coefficient	coefficient	NOUN
easat-3052	341	7	for	for	ADP
easat-3052	341	8	roe	roe	PROPN
easat-3052	341	9	,	,	PUNCT
easat-3052	341	10	bt	bt	PROPN
easat-3052	341	11	(	(	PUNCT
easat-3052	341	12	-1	-1	ADJ
easat-3052	341	13	)	)	PUNCT
easat-3052	341	14	,	,	PUNCT
easat-3052	341	15	and	and	CCONJ
easat-3052	341	16	mrr	mrr	NOUN
easat-3052	341	17	indicates	indicate	VERB
easat-3052	341	18	that	that	SCONJ
easat-3052	341	19	a	a	DET
easat-3052	341	20	1	1	NUM
easat-3052	341	21	percent	percent	NOUN
easat-3052	341	22	increase	increase	NOUN
easat-3052	341	23	in	in	ADP
easat-3052	341	24	return	return	NOUN
easat-3052	341	25	on	on	ADP
easat-3052	341	26	equity	equity	NOUN
easat-3052	341	27	,	,	PUNCT
easat-3052	341	28	lagged	lag	VERB
easat-3052	341	29	total	total	ADJ
easat-3052	341	30	debt	debt	NOUN
easat-3052	341	31	or	or	CCONJ
easat-3052	341	32	growth	growth	NOUN
easat-3052	341	33	opportunity	opportunity	NOUN
easat-3052	341	34	will	will	AUX
easat-3052	341	35	increase	increase	VERB
easat-3052	341	36	the	the	DET
easat-3052	341	37	ratio	ratio	NOUN
easat-3052	341	38	of	of	ADP
easat-3052	341	39	total	total	ADJ
easat-3052	341	40	term	term	NOUN
easat-3052	341	41	debt	debt	NOUN
easat-3052	341	42	by	by	ADP
easat-3052	341	43	approximately	approximately	ADV
easat-3052	341	44	10.13	10.13	NUM
easat-3052	341	45	percent	percent	NOUN
easat-3052	341	46	,	,	PUNCT
easat-3052	341	47	41.41	41.41	NUM
easat-3052	341	48	percent	percent	NOUN
easat-3052	341	49	or	or	CCONJ
easat-3052	341	50	2.48	2.48	NUM
easat-3052	341	51	percent	percent	NOUN
easat-3052	341	52	respectively	respectively	ADV
easat-3052	341	53	in	in	ADP
easat-3052	341	54	model	model	NOUN
easat-3052	341	55	2	2	NUM
easat-3052	341	56	the	the	DET
easat-3052	341	57	variance	variance	NOUN
easat-3052	341	58	of	of	ADP
easat-3052	341	59	the	the	DET
easat-3052	341	60	dependent	dependent	ADJ
easat-3052	341	61	variables	variable	NOUN
easat-3052	341	62	around	around	ADP
easat-3052	341	63	its	its	PRON
easat-3052	341	64	mean	mean	NOUN
easat-3052	341	65	that	that	PRON
easat-3052	341	66	is	be	AUX
easat-3052	341	67	explained	explain	VERB
easat-3052	341	68	by	by	ADP
easat-3052	341	69	the	the	DET
easat-3052	341	70	independent	independent	ADJ
easat-3052	341	71	or	or	CCONJ
easat-3052	341	72	predictor	predictor	NOUN
easat-3052	341	73	variables	variable	NOUN
easat-3052	341	74	is	be	AUX
easat-3052	341	75	represented	represent	VERB
easat-3052	341	76	by	by	ADP
easat-3052	341	77	r	r	NOUN
easat-3052	341	78	-	-	PUNCT
easat-3052	341	79	squared	square	VERB
easat-3052	341	80	,	,	PUNCT
easat-3052	341	81	which	which	PRON
easat-3052	341	82	is	be	AUX
easat-3052	341	83	0.8958	0.8958	NUM
easat-3052	341	84	.	.	PUNCT
easat-3052	342	1	this	this	PRON
easat-3052	342	2	indicates	indicate	VERB
easat-3052	342	3	that	that	SCONJ
easat-3052	342	4	approximately	approximately	ADV
easat-3052	342	5	89.58	89.58	NUM
easat-3052	342	6	percent	percent	NOUN
easat-3052	342	7	of	of	ADP
easat-3052	342	8	the	the	DET
easat-3052	342	9	variability	variability	NOUN
easat-3052	342	10	in	in	ADP
easat-3052	342	11	the	the	DET
easat-3052	342	12	long	long	ADJ
easat-3052	342	13	-	-	PUNCT
easat-3052	342	14	term	term	NOUN
easat-3052	342	15	debt	debt	NOUN
easat-3052	342	16	ratio	ratio	NOUN
easat-3052	342	17	is	be	AUX
easat-3052	342	18	explained	explain	VERB
easat-3052	342	19	by	by	ADP
easat-3052	342	20	firm	firm	ADJ
easat-3052	342	21	-	-	PUNCT
easat-3052	342	22	specific	specific	ADJ
easat-3052	342	23	factors	factor	NOUN
easat-3052	342	24	.	.	PUNCT
easat-3052	343	1	the	the	DET
easat-3052	343	2	remaining	remain	VERB
easat-3052	343	3	10.42	10.42	NUM
easat-3052	343	4	percent	percent	NOUN
easat-3052	343	5	(	(	PUNCT
easat-3052	343	6	100	100	NUM
easat-3052	343	7	percent	percent	NOUN
easat-3052	343	8	minus	minus	CCONJ
easat-3052	343	9	89.58	89.58	NUM
easat-3052	343	10	percent	percent	NOUN
easat-3052	343	11	)	)	PUNCT
easat-3052	343	12	of	of	ADP
easat-3052	343	13	the	the	DET
easat-3052	343	14	variance	variance	NOUN
easat-3052	343	15	in	in	ADP
easat-3052	343	16	long	long	ADJ
easat-3052	343	17	terms	term	NOUN
easat-3052	343	18	debt	debt	NOUN
easat-3052	343	19	is	be	AUX
easat-3052	343	20	attributed	attribute	VERB
easat-3052	343	21	to	to	ADP
easat-3052	343	22	other	other	ADJ
easat-3052	343	23	variables	variable	NOUN
easat-3052	343	24	.	.	PUNCT
easat-3052	344	1	the	the	DET
easat-3052	344	2	f	f	NOUN
easat-3052	344	3	-	-	PUNCT
easat-3052	344	4	statistic	statistic	NOUN
easat-3052	344	5	of	of	ADP
easat-3052	344	6	22.023	22.023	NUM
easat-3052	344	7	and	and	CCONJ
easat-3052	344	8	a	a	DET
easat-3052	344	9	p	p	NOUN
easat-3052	344	10	-	-	PUNCT
easat-3052	344	11	value	value	NOUN
easat-3052	344	12	(	(	PUNCT
easat-3052	344	13	f	f	X
easat-3052	344	14	)	)	PUNCT
easat-3052	344	15	0.00000	0.00000	NUM
easat-3052	344	16	less	less	ADJ
easat-3052	344	17	than	than	ADP
easat-3052	344	18	0.005	0.005	NUM
easat-3052	344	19	suggest	suggest	VERB
easat-3052	344	20	that	that	SCONJ
easat-3052	344	21	the	the	DET
easat-3052	344	22	model	model	NOUN
easat-3052	344	23	fits	fit	VERB
easat-3052	344	24	the	the	DET
easat-3052	344	25	data	datum	NOUN
easat-3052	344	26	significantly	significantly	ADV
easat-3052	344	27	.	.	PUNCT
easat-3052	345	1	the	the	DET
easat-3052	345	2	regressions	regression	NOUN
easat-3052	345	3	coefficients	coefficient	NOUN
easat-3052	345	4	of	of	ADP
easat-3052	345	5	bagj	bagj	NOUN
easat-3052	345	6	(	(	PUNCT
easat-3052	345	7	-1	-1	ADJ
easat-3052	345	8	)	)	PUNCT
easat-3052	345	9	,	,	PUNCT
easat-3052	345	10	roa	roa	PROPN
easat-3052	345	11	,	,	PUNCT
easat-3052	345	12	and	and	CCONJ
easat-3052	345	13	mrr	mrr	PROPN
easat-3052	345	14	appear	appear	VERB
easat-3052	345	15	significant	significant	ADJ
easat-3052	345	16	in	in	ADP
easat-3052	345	17	determine	determine	NOUN
easat-3052	345	18	the	the	DET
easat-3052	345	19	total	total	ADJ
easat-3052	345	20	debt	debt	NOUN
easat-3052	345	21	ratio	ratio	NOUN
easat-3052	345	22	.	.	PUNCT
easat-3052	346	1	therefore	therefore	ADV
easat-3052	346	2	,	,	PUNCT
easat-3052	346	3	the	the	DET
easat-3052	346	4	first	first	ADJ
easat-3052	346	5	main	main	ADJ
easat-3052	346	6	null	null	ADJ
easat-3052	346	7	hypothesis	hypothesis	NOUN
easat-3052	346	8	is	be	AUX
easat-3052	346	9	rejected	reject	VERB
easat-3052	346	10	which	which	PRON
easat-3052	346	11	indicates	indicate	VERB
easat-3052	346	12	that	that	SCONJ
easat-3052	346	13	there	there	PRON
easat-3052	346	14	is	be	VERB
easat-3052	346	15	a	a	DET
easat-3052	346	16	relationship	relationship	NOUN
easat-3052	346	17	between	between	ADP
easat-3052	346	18	the	the	DET
easat-3052	346	19	selected	select	VERB
easat-3052	346	20	factors	factor	NOUN
easat-3052	346	21	and	and	CCONJ
easat-3052	346	22	total	total	ADJ
easat-3052	346	23	debt	debt	NOUN
easat-3052	346	24	ratio	ratio	NOUN
easat-3052	346	25	of	of	ADP
easat-3052	346	26	the	the	DET
easat-3052	346	27	firms	firm	NOUN
easat-3052	346	28	in	in	ADP
easat-3052	346	29	the	the	DET
easat-3052	346	30	sample	sample	NOUN
easat-3052	346	31	.	.	PUNCT
easat-3052	347	1	in	in	ADP
easat-3052	347	2	model	model	NOUN
easat-3052	347	3	3	3	NUM
easat-3052	347	4	the	the	DET
easat-3052	347	5	variance	variance	NOUN
easat-3052	347	6	of	of	ADP
easat-3052	347	7	the	the	DET
easat-3052	347	8	dependent	dependent	ADJ
easat-3052	347	9	variables	variable	NOUN
easat-3052	347	10	around	around	ADP
easat-3052	347	11	its	its	PRON
easat-3052	347	12	mean	mean	NOUN
easat-3052	347	13	that	that	PRON
easat-3052	347	14	is	be	AUX
easat-3052	347	15	explained	explain	VERB
easat-3052	347	16	by	by	ADP
easat-3052	347	17	the	the	DET
easat-3052	347	18	independent	independent	ADJ
easat-3052	347	19	or	or	CCONJ
easat-3052	347	20	predictor	predictor	NOUN
easat-3052	347	21	variables	variable	NOUN
easat-3052	347	22	is	be	AUX
easat-3052	347	23	represented	represent	VERB
easat-3052	347	24	by	by	ADP
easat-3052	347	25	r	r	NOUN
easat-3052	347	26	-	-	PUNCT
easat-3052	347	27	squared	square	VERB
easat-3052	347	28	,	,	PUNCT
easat-3052	347	29	which	which	PRON
easat-3052	347	30	is	be	AUX
easat-3052	347	31	0.9131	0.9131	NUM
easat-3052	347	32	.	.	PUNCT
easat-3052	348	1	this	this	PRON
easat-3052	348	2	indicates	indicate	VERB
easat-3052	348	3	that	that	SCONJ
easat-3052	348	4	approximately	approximately	ADV
easat-3052	348	5	91.31	91.31	NUM
easat-3052	348	6	percent	percent	NOUN
easat-3052	348	7	of	of	ADP
easat-3052	348	8	the	the	DET
easat-3052	348	9	variability	variability	NOUN
easat-3052	348	10	in	in	ADP
easat-3052	348	11	the	the	DET
easat-3052	348	12	short	short	ADJ
easat-3052	348	13	-	-	PUNCT
easat-3052	348	14	term	term	NOUN
easat-3052	348	15	debt	debt	NOUN
easat-3052	348	16	ratio	ratio	NOUN
easat-3052	348	17	is	be	AUX
easat-3052	348	18	explained	explain	VERB
easat-3052	348	19	by	by	ADP
easat-3052	348	20	firm	firm	ADJ
easat-3052	348	21	-	-	PUNCT
easat-3052	348	22	specific	specific	ADJ
easat-3052	348	23	factors	factor	NOUN
easat-3052	348	24	.	.	PUNCT
easat-3052	349	1	the	the	DET
easat-3052	349	2	remaining	remain	VERB
easat-3052	349	3	8.69	8.69	NUM
easat-3052	349	4	percent	percent	NOUN
easat-3052	349	5	(	(	PUNCT
easat-3052	349	6	100	100	NUM
easat-3052	349	7	percent	percent	NOUN
easat-3052	349	8	minus	minus	CCONJ
easat-3052	349	9	91.31	91.31	NUM
easat-3052	349	10	percent	percent	NOUN
easat-3052	349	11	)	)	PUNCT
easat-3052	349	12	of	of	ADP
easat-3052	349	13	the	the	DET
easat-3052	349	14	variance	variance	NOUN
easat-3052	349	15	in	in	ADP
easat-3052	349	16	short	short	ADJ
easat-3052	349	17	terms	term	NOUN
easat-3052	349	18	debt	debt	NOUN
easat-3052	349	19	is	be	AUX
easat-3052	349	20	attributed	attribute	VERB
easat-3052	349	21	to	to	ADP
easat-3052	349	22	other	other	ADJ
easat-3052	349	23	variables	variable	NOUN
easat-3052	349	24	.	.	PUNCT
easat-3052	350	1	the	the	DET
easat-3052	350	2	f	f	NOUN
easat-3052	350	3	-	-	PUNCT
easat-3052	350	4	statistic	statistic	NOUN
easat-3052	350	5	of	of	ADP
easat-3052	350	6	26.92	26.92	NUM
easat-3052	350	7	and	and	CCONJ
easat-3052	350	8	a	a	DET
easat-3052	350	9	p	p	NOUN
easat-3052	350	10	-	-	PUNCT
easat-3052	350	11	value	value	NOUN
easat-3052	350	12	(	(	PUNCT
easat-3052	350	13	f	f	X
easat-3052	350	14	)	)	PUNCT
easat-3052	350	15	0.00000	0.00000	NUM
easat-3052	350	16	less	less	ADJ
easat-3052	350	17	than	than	ADP
easat-3052	350	18	0.005	0.005	NUM
easat-3052	350	19	suggest	suggest	VERB
easat-3052	350	20	that	that	SCONJ
easat-3052	350	21	the	the	DET
easat-3052	350	22	model	model	NOUN
easat-3052	350	23	fits	fit	VERB
easat-3052	350	24	the	the	DET
easat-3052	350	25	data	datum	NOUN
easat-3052	350	26	significantly	significantly	ADV
easat-3052	350	27	.	.	PUNCT
easat-3052	351	1	the	the	DET
easat-3052	351	2	regressions	regression	NOUN
easat-3052	351	3	coefficients	coefficient	NOUN
easat-3052	351	4	of	of	ADP
easat-3052	351	5	bash	bash	NOUN
easat-3052	351	6	(	(	PUNCT
easat-3052	351	7	-1	-1	ADJ
easat-3052	351	8	)	)	PUNCT
easat-3052	351	9	,	,	PUNCT
easat-3052	351	10	roa	roa	NOUN
easat-3052	351	11	,	,	PUNCT
easat-3052	351	12	and	and	CCONJ
easat-3052	351	13	lf	lf	PART
easat-3052	351	14	appear	appear	VERB
easat-3052	351	15	significant	significant	ADJ
easat-3052	351	16	in	in	ADP
easat-3052	351	17	determine	determine	NOUN
easat-3052	351	18	the	the	DET
easat-3052	351	19	total	total	ADJ
easat-3052	351	20	debt	debt	NOUN
easat-3052	351	21	ratio	ratio	NOUN
easat-3052	351	22	.	.	PUNCT
easat-3052	352	1	therefore	therefore	ADV
easat-3052	352	2	,	,	PUNCT
easat-3052	352	3	the	the	DET
easat-3052	352	4	first	first	ADJ
easat-3052	352	5	main	main	ADJ
easat-3052	352	6	null	null	ADJ
easat-3052	352	7	hypothesis	hypothesis	NOUN
easat-3052	352	8	is	be	AUX
easat-3052	352	9	rejected	reject	VERB
easat-3052	352	10	which	which	PRON
easat-3052	352	11	indicates	indicate	VERB
easat-3052	352	12	that	that	SCONJ
easat-3052	352	13	there	there	PRON
easat-3052	352	14	is	be	VERB
easat-3052	352	15	a	a	DET
easat-3052	352	16	relationship	relationship	NOUN
easat-3052	352	17	between	between	ADP
easat-3052	352	18	the	the	DET
easat-3052	352	19	selected	select	VERB
easat-3052	352	20	factors	factor	NOUN
easat-3052	352	21	and	and	CCONJ
easat-3052	352	22	total	total	ADJ
easat-3052	352	23	debt	debt	NOUN
easat-3052	352	24	ratio	ratio	NOUN
easat-3052	352	25	of	of	ADP
easat-3052	352	26	the	the	DET
easat-3052	352	27	firms	firm	NOUN
easat-3052	352	28	in	in	ADP
easat-3052	352	29	the	the	DET
easat-3052	352	30	sample	sample	NOUN
easat-3052	352	31	.	.	PUNCT
easat-3052	353	1	4899	4899	NUM
easat-3052	353	2	edelweiss	edelweiss	PROPN
easat-3052	353	3	applied	apply	VERB
easat-3052	353	4	science	science	NOUN
easat-3052	353	5	and	and	CCONJ
easat-3052	353	6	technology	technology	NOUN
easat-3052	353	7	issn	issn	PROPN
easat-3052	353	8	:	:	PUNCT
easat-3052	353	9	2576	2576	NUM
easat-3052	353	10	-	-	SYM
easat-3052	353	11	8484	8484	NUM
easat-3052	353	12	vol	vol	NOUN
easat-3052	353	13	.	.	PROPN
easat-3052	353	14	8	8	NUM
easat-3052	353	15	,	,	PUNCT
easat-3052	353	16	no	no	INTJ
easat-3052	353	17	.	.	NOUN
easat-3052	354	1	6	6	NUM
easat-3052	354	2	:	:	SYM
easat-3052	354	3	4884	4884	NUM
easat-3052	354	4	-	-	SYM
easat-3052	354	5	4902	4902	NUM
easat-3052	354	6	,	,	PUNCT
easat-3052	354	7	2024	2024	NUM
easat-3052	354	8	doi	doi	NOUN
easat-3052	354	9	:	:	PUNCT
easat-3052	354	10	10.55214/25768484.v8i6.3052	10.55214/25768484.v8i6.3052	NUM
easat-3052	354	11	©	©	ADP
easat-3052	354	12	2024	2024	NUM
easat-3052	354	13	by	by	ADP
easat-3052	354	14	the	the	DET
easat-3052	354	15	author	author	NOUN
easat-3052	354	16	;	;	PUNCT
easat-3052	354	17	licensee	licensee	PROPN
easat-3052	354	18	learning	learning	NOUN
easat-3052	354	19	gate	gate	NOUN
easat-3052	354	20	5	5	NUM
easat-3052	354	21	.	.	PUNCT
easat-3052	354	22	conclusion	conclusion	NOUN
easat-3052	354	23	numerous	numerous	ADJ
easat-3052	354	24	studies	study	NOUN
easat-3052	354	25	have	have	AUX
easat-3052	354	26	addressed	address	VERB
easat-3052	354	27	capital	capital	NOUN
easat-3052	354	28	structure	structure	NOUN
easat-3052	354	29	,	,	PUNCT
easat-3052	354	30	beginning	begin	VERB
easat-3052	354	31	with	with	ADP
easat-3052	354	32	an	an	DET
easat-3052	354	33	article	article	NOUN
easat-3052	354	34	by	by	ADP
easat-3052	354	35	modigliani	modigliani	PROPN
easat-3052	354	36	and	and	CCONJ
easat-3052	354	37	miller	miller	PROPN
easat-3052	354	38	in	in	ADP
easat-3052	354	39	1958	1958	NUM
easat-3052	355	1	[	[	X
easat-3052	355	2	32	32	NUM
easat-3052	355	3	-	-	SYM
easat-3052	355	4	34	34	NUM
easat-3052	355	5	]	]	PUNCT
easat-3052	355	6	and	and	CCONJ
easat-3052	355	7	continuing	continue	VERB
easat-3052	355	8	through	through	ADP
easat-3052	355	9	the	the	DET
easat-3052	355	10	work	work	NOUN
easat-3052	355	11	of	of	ADP
easat-3052	355	12	various	various	ADJ
easat-3052	355	13	researchers	researcher	NOUN
easat-3052	355	14	.	.	PUNCT
easat-3052	356	1	different	different	ADJ
easat-3052	356	2	approaches	approach	NOUN
easat-3052	356	3	and	and	CCONJ
easat-3052	356	4	procedures	procedure	NOUN
easat-3052	356	5	are	be	AUX
easat-3052	356	6	used	use	VERB
easat-3052	356	7	in	in	ADP
easat-3052	356	8	different	different	ADJ
easat-3052	356	9	nations	nation	NOUN
easat-3052	356	10	to	to	PART
easat-3052	356	11	examine	examine	VERB
easat-3052	356	12	a	a	DET
easat-3052	356	13	firm	firm	NOUN
easat-3052	356	14	's	's	PART
easat-3052	356	15	financial	financial	ADJ
easat-3052	356	16	leverage	leverage	NOUN
easat-3052	356	17	and	and	CCONJ
easat-3052	356	18	the	the	DET
easat-3052	356	19	choice	choice	NOUN
easat-3052	356	20	of	of	ADP
easat-3052	356	21	funding	funding	NOUN
easat-3052	356	22	sources	source	NOUN
easat-3052	356	23	.	.	PUNCT
easat-3052	357	1	this	this	DET
easat-3052	357	2	study	study	NOUN
easat-3052	357	3	primarily	primarily	ADV
easat-3052	357	4	looks	look	VERB
easat-3052	357	5	at	at	ADP
easat-3052	357	6	firm	firm	ADJ
easat-3052	357	7	-	-	PUNCT
easat-3052	357	8	specific	specific	ADJ
easat-3052	357	9	factors	factor	NOUN
easat-3052	357	10	that	that	PRON
easat-3052	357	11	influence	influence	VERB
easat-3052	357	12	non	non	ADJ
easat-3052	357	13	-	-	ADJ
easat-3052	357	14	financial	financial	ADJ
easat-3052	357	15	enterprises	enterprise	NOUN
easat-3052	357	16	in	in	ADP
easat-3052	357	17	albania	albania	PROPN
easat-3052	357	18	's	's	PART
easat-3052	357	19	tirana	tirana	ADJ
easat-3052	357	20	area	area	NOUN
easat-3052	357	21	when	when	SCONJ
easat-3052	357	22	deciding	decide	VERB
easat-3052	357	23	on	on	ADP
easat-3052	357	24	their	their	PRON
easat-3052	357	25	capital	capital	NOUN
easat-3052	357	26	structure	structure	NOUN
easat-3052	357	27	.	.	PUNCT
easat-3052	358	1	company	company	NOUN
easat-3052	358	2	-	-	PUNCT
easat-3052	358	3	specific	specific	ADJ
easat-3052	358	4	criteria	criterion	NOUN
easat-3052	358	5	including	include	VERB
easat-3052	358	6	return	return	NOUN
easat-3052	358	7	on	on	ADP
easat-3052	358	8	equity	equity	NOUN
easat-3052	358	9	,	,	PUNCT
easat-3052	358	10	return	return	VERB
easat-3052	358	11	on	on	ADP
easat-3052	358	12	assets	asset	NOUN
easat-3052	358	13	,	,	PUNCT
easat-3052	358	14	tangibility	tangibility	NOUN
easat-3052	358	15	of	of	ADP
easat-3052	358	16	assets	asset	NOUN
easat-3052	358	17	,	,	PUNCT
easat-3052	358	18	liquidity	liquidity	NOUN
easat-3052	358	19	,	,	PUNCT
easat-3052	358	20	business	business	NOUN
easat-3052	358	21	size	size	NOUN
easat-3052	358	22	,	,	PUNCT
easat-3052	358	23	financial	financial	ADJ
easat-3052	358	24	flexibility	flexibility	NOUN
easat-3052	358	25	,	,	PUNCT
easat-3052	358	26	non	non	ADJ
easat-3052	358	27	-	-	ADJ
easat-3052	358	28	debt	debt	ADJ
easat-3052	358	29	tax	tax	NOUN
easat-3052	358	30	shields	shield	NOUN
easat-3052	358	31	,	,	PUNCT
easat-3052	358	32	growth	growth	NOUN
easat-3052	358	33	opportunity	opportunity	NOUN
easat-3052	358	34	,	,	PUNCT
easat-3052	358	35	and	and	CCONJ
easat-3052	358	36	firm	firm	ADJ
easat-3052	358	37	age	age	NOUN
easat-3052	358	38	are	be	AUX
easat-3052	358	39	some	some	PRON
easat-3052	358	40	of	of	ADP
easat-3052	358	41	the	the	DET
easat-3052	358	42	aspects	aspect	NOUN
easat-3052	358	43	that	that	PRON
easat-3052	358	44	are	be	AUX
easat-3052	358	45	looked	look	VERB
easat-3052	358	46	at	at	ADP
easat-3052	358	47	.	.	PUNCT
easat-3052	359	1	the	the	DET
easat-3052	359	2	first	first	ADJ
easat-3052	359	3	hypothesis	hypothesis	NOUN
easat-3052	359	4	looks	look	VERB
easat-3052	359	5	at	at	ADP
easat-3052	359	6	whether	whether	SCONJ
easat-3052	359	7	the	the	DET
easat-3052	359	8	capital	capital	NOUN
easat-3052	359	9	structure	structure	NOUN
easat-3052	359	10	choice	choice	NOUN
easat-3052	359	11	of	of	ADP
easat-3052	359	12	the	the	DET
easat-3052	359	13	chosen	choose	VERB
easat-3052	359	14	sample	sample	NOUN
easat-3052	359	15	is	be	AUX
easat-3052	359	16	influenced	influence	VERB
easat-3052	359	17	by	by	ADP
easat-3052	359	18	firm	firm	ADJ
easat-3052	359	19	-	-	PUNCT
easat-3052	359	20	specific	specific	ADJ
easat-3052	359	21	factors	factor	NOUN
easat-3052	359	22	.	.	PUNCT
easat-3052	360	1	overall	overall	ADV
easat-3052	360	2	,	,	PUNCT
easat-3052	360	3	the	the	DET
easat-3052	360	4	albanian	albanian	ADJ
easat-3052	360	5	enterprises	enterprise	NOUN
easat-3052	360	6	'	'	PART
easat-3052	360	7	survey	survey	NOUN
easat-3052	360	8	results	result	NOUN
easat-3052	360	9	align	align	VERB
easat-3052	360	10	with	with	ADP
easat-3052	360	11	theoretical	theoretical	ADJ
easat-3052	360	12	research	research	NOUN
easat-3052	360	13	assumptions	assumption	NOUN
easat-3052	360	14	and	and	CCONJ
easat-3052	360	15	prior	prior	ADJ
easat-3052	360	16	empirical	empirical	ADJ
easat-3052	360	17	findings	finding	NOUN
easat-3052	360	18	.	.	PUNCT
easat-3052	361	1	the	the	DET
easat-3052	361	2	same	same	ADJ
easat-3052	361	3	factors	factor	NOUN
easat-3052	361	4	that	that	PRON
easat-3052	361	5	affect	affect	VERB
easat-3052	361	6	the	the	DET
easat-3052	361	7	capital	capital	NOUN
easat-3052	361	8	structure	structure	NOUN
easat-3052	361	9	of	of	ADP
easat-3052	361	10	the	the	DET
easat-3052	361	11	study	study	NOUN
easat-3052	361	12	's	's	PART
easat-3052	361	13	participating	participate	VERB
easat-3052	361	14	enterprises	enterprise	NOUN
easat-3052	361	15	also	also	ADV
easat-3052	361	16	affect	affect	VERB
easat-3052	361	17	the	the	DET
easat-3052	361	18	capital	capital	NOUN
easat-3052	361	19	structures	structure	NOUN
easat-3052	361	20	of	of	ADP
easat-3052	361	21	small	small	ADJ
easat-3052	361	22	and	and	CCONJ
easat-3052	361	23	medium	medium	ADJ
easat-3052	361	24	-	-	PUNCT
easat-3052	361	25	sized	sized	ADJ
easat-3052	361	26	businesses	business	NOUN
easat-3052	361	27	and	and	CCONJ
easat-3052	361	28	businesses	business	NOUN
easat-3052	361	29	in	in	ADP
easat-3052	361	30	industrialized	industrialized	ADJ
easat-3052	361	31	nations	nation	NOUN
easat-3052	361	32	.	.	PUNCT
easat-3052	362	1	the	the	DET
easat-3052	362	2	question	question	NOUN
easat-3052	362	3	of	of	ADP
easat-3052	362	4	whether	whether	SCONJ
easat-3052	362	5	albania	albania	PROPN
easat-3052	362	6	has	have	AUX
easat-3052	362	7	any	any	DET
easat-3052	362	8	particular	particular	ADJ
easat-3052	362	9	components	component	NOUN
easat-3052	362	10	that	that	PRON
easat-3052	362	11	influence	influence	VERB
easat-3052	362	12	a	a	DET
easat-3052	362	13	firm	firm	NOUN
easat-3052	362	14	's	's	PART
easat-3052	362	15	financial	financial	ADJ
easat-3052	362	16	leverage	leverage	NOUN
easat-3052	362	17	is	be	AUX
easat-3052	362	18	still	still	ADV
easat-3052	362	19	open	open	ADJ
easat-3052	362	20	for	for	ADP
easat-3052	362	21	debate	debate	NOUN
easat-3052	362	22	.	.	PUNCT
easat-3052	363	1	recall	recall	VERB
easat-3052	363	2	that	that	SCONJ
easat-3052	363	3	there	there	PRON
easat-3052	363	4	are	be	VERB
easat-3052	363	5	no	no	DET
easat-3052	363	6	functioning	function	VERB
easat-3052	363	7	capital	capital	NOUN
easat-3052	363	8	markets	market	NOUN
easat-3052	363	9	in	in	ADP
easat-3052	363	10	albania	albania	PROPN
easat-3052	363	11	,	,	PUNCT
easat-3052	363	12	and	and	CCONJ
easat-3052	363	13	the	the	DET
easat-3052	363	14	only	only	ADJ
easat-3052	363	15	places	place	NOUN
easat-3052	363	16	to	to	PART
easat-3052	363	17	go	go	VERB
easat-3052	363	18	for	for	ADP
easat-3052	363	19	outside	outside	ADJ
easat-3052	363	20	finance	finance	NOUN
easat-3052	363	21	are	be	AUX
easat-3052	363	22	banking	banking	NOUN
easat-3052	363	23	institutions	institution	NOUN
easat-3052	363	24	(	(	PUNCT
easat-3052	363	25	oriented	orient	VERB
easat-3052	363	26	to	to	ADP
easat-3052	363	27	banking	banking	NOUN
easat-3052	363	28	markets	market	NOUN
easat-3052	363	29	)	)	PUNCT
easat-3052	363	30	.	.	PUNCT
easat-3052	364	1	firms	firm	NOUN
easat-3052	364	2	do	do	AUX
easat-3052	364	3	not	not	PART
easat-3052	364	4	have	have	VERB
easat-3052	364	5	an	an	DET
easat-3052	364	6	optimal	optimal	ADJ
easat-3052	364	7	capital	capital	NOUN
easat-3052	364	8	structure	structure	NOUN
easat-3052	364	9	,	,	PUNCT
easat-3052	364	10	but	but	CCONJ
easat-3052	364	11	we	we	PRON
easat-3052	364	12	note	note	VERB
easat-3052	364	13	that	that	SCONJ
easat-3052	364	14	over	over	ADP
easat-3052	364	15	the	the	DET
easat-3052	364	16	period	period	NOUN
easat-3052	364	17	2019	2019	NUM
easat-3052	364	18	-	-	SYM
easat-3052	364	19	2023	2023	NUM
easat-3052	364	20	they	they	PRON
easat-3052	364	21	have	have	AUX
easat-3052	364	22	had	have	VERB
easat-3052	364	23	an	an	DET
easat-3052	364	24	average	average	NOUN
easat-3052	364	25	of	of	ADP
easat-3052	364	26	55.73	55.73	NUM
easat-3052	364	27	percent	percent	NOUN
easat-3052	364	28	(	(	PUNCT
easat-3052	364	29	respectively	respectively	ADV
easat-3052	364	30	55.34	55.34	NUM
easat-3052	364	31	,	,	PUNCT
easat-3052	364	32	55.41	55.41	NUM
easat-3052	364	33	,	,	PUNCT
easat-3052	364	34	55.48	55.48	NUM
easat-3052	364	35	,	,	PUNCT
easat-3052	364	36	55.58	55.58	NUM
easat-3052	364	37	,	,	PUNCT
easat-3052	364	38	and	and	CCONJ
easat-3052	364	39	55.68	55.68	NUM
easat-3052	364	40	percent	percent	NOUN
easat-3052	364	41	)	)	PUNCT
easat-3052	364	42	totalterm	totalterm	NOUN
easat-3052	364	43	debt	debt	NOUN
easat-3052	364	44	,	,	PUNCT
easat-3052	364	45	15.27	15.27	NUM
easat-3052	364	46	percent	percent	NOUN
easat-3052	364	47	(	(	PUNCT
easat-3052	364	48	respectively	respectively	ADV
easat-3052	364	49	15.08	15.08	NUM
easat-3052	364	50	,	,	PUNCT
easat-3052	364	51	15.00	15.00	NUM
easat-3052	364	52	,	,	PUNCT
easat-3052	364	53	14.96	14.96	NUM
easat-3052	364	54	,	,	PUNCT
easat-3052	364	55	14.94	14.94	NUM
easat-3052	364	56	,	,	PUNCT
easat-3052	364	57	14.93	14.93	NUM
easat-3052	364	58	percent	percent	NOUN
easat-3052	364	59	)	)	PUNCT
easat-3052	364	60	long	long	ADJ
easat-3052	364	61	-	-	PUNCT
easat-3052	364	62	term	term	NOUN
easat-3052	364	63	debt	debt	NOUN
easat-3052	364	64	and	and	CCONJ
easat-3052	364	65	40.46	40.46	NUM
easat-3052	364	66	percent	percent	NOUN
easat-3052	364	67	(	(	PUNCT
easat-3052	364	68	respectively	respectively	ADV
easat-3052	364	69	40.27	40.27	NUM
easat-3052	364	70	,	,	PUNCT
easat-3052	364	71	40.41	40.41	NUM
easat-3052	364	72	,	,	PUNCT
easat-3052	364	73	40.52	40.52	NUM
easat-3052	364	74	,	,	PUNCT
easat-3052	364	75	40.63	40.63	NUM
easat-3052	364	76	,	,	PUNCT
easat-3052	364	77	40.74	40.74	NUM
easat-3052	364	78	percent	percent	NOUN
easat-3052	364	79	)	)	PUNCT
easat-3052	364	80	short	short	ADJ
easat-3052	364	81	-	-	PUNCT
easat-3052	364	82	term	term	NOUN
easat-3052	364	83	debt	debt	NOUN
easat-3052	364	84	.	.	PUNCT
easat-3052	365	1	so	so	ADV
easat-3052	365	2	,	,	PUNCT
easat-3052	365	3	firms	firm	NOUN
easat-3052	365	4	in	in	ADP
easat-3052	365	5	the	the	DET
easat-3052	365	6	sample	sample	NOUN
easat-3052	365	7	have	have	VERB
easat-3052	365	8	small	small	ADJ
easat-3052	365	9	fluctuations	fluctuation	NOUN
easat-3052	365	10	in	in	ADP
easat-3052	365	11	debt	debt	NOUN
easat-3052	365	12	levels	level	NOUN
easat-3052	365	13	.	.	PUNCT
easat-3052	366	1	firms	firm	NOUN
easat-3052	366	2	in	in	ADP
easat-3052	366	3	the	the	DET
easat-3052	366	4	study	study	NOUN
easat-3052	366	5	follow	follow	VERB
easat-3052	366	6	the	the	DET
easat-3052	366	7	principles	principle	NOUN
easat-3052	366	8	of	of	ADP
easat-3052	366	9	the	the	DET
easat-3052	366	10	theory	theory	NOUN
easat-3052	366	11	of	of	ADP
easat-3052	366	12	the	the	DET
easat-3052	366	13	pecking	pecking	NOUN
easat-3052	366	14	order	order	NOUN
easat-3052	366	15	pot	pot	NOUN
easat-3052	366	16	,	,	PUNCT
easat-3052	366	17	financing	finance	VERB
easat-3052	366	18	primarily	primarily	ADV
easat-3052	366	19	with	with	ADP
easat-3052	366	20	debt	debt	NOUN
easat-3052	366	21	and	and	CCONJ
easat-3052	366	22	equity	equity	NOUN
easat-3052	366	23	later	later	ADV
easat-3052	366	24	.	.	PUNCT
easat-3052	367	1	on	on	ADP
easat-3052	367	2	average	average	ADJ
easat-3052	367	3	they	they	PRON
easat-3052	367	4	finance	finance	VERB
easat-3052	367	5	their	their	PRON
easat-3052	367	6	assets	asset	NOUN
easat-3052	367	7	with	with	ADP
easat-3052	367	8	debt	debt	NOUN
easat-3052	367	9	to	to	ADP
easat-3052	367	10	the	the	DET
easat-3052	367	11	extent	extent	NOUN
easat-3052	367	12	of	of	ADP
easat-3052	367	13	55.73	55.73	NUM
easat-3052	367	14	percent	percent	NOUN
easat-3052	367	15	(	(	PUNCT
easat-3052	367	16	40.46	40.46	NUM
easat-3052	367	17	percent	percent	NOUN
easat-3052	367	18	short	short	ADJ
easat-3052	367	19	-	-	PUNCT
easat-3052	367	20	term	term	NOUN
easat-3052	367	21	debt	debt	NOUN
easat-3052	367	22	and	and	CCONJ
easat-3052	367	23	15.27	15.27	NUM
easat-3052	367	24	percent	percent	NOUN
easat-3052	367	25	long	long	ADJ
easat-3052	367	26	-	-	PUNCT
easat-3052	367	27	term	term	NOUN
easat-3052	367	28	debt	debt	NOUN
easat-3052	367	29	)	)	PUNCT
easat-3052	367	30	and	and	CCONJ
easat-3052	367	31	with	with	ADP
easat-3052	367	32	equity	equity	NOUN
easat-3052	367	33	to	to	ADP
easat-3052	367	34	the	the	DET
easat-3052	367	35	extent	extent	NOUN
easat-3052	367	36	of	of	ADP
easat-3052	367	37	44.27	44.27	NUM
easat-3052	367	38	percent	percent	NOUN
easat-3052	367	39	.	.	PUNCT
easat-3052	368	1	these	these	DET
easat-3052	368	2	figures	figure	NOUN
easat-3052	368	3	indicate	indicate	VERB
easat-3052	368	4	that	that	SCONJ
easat-3052	368	5	more	more	ADJ
easat-3052	368	6	firms	firm	NOUN
easat-3052	368	7	rely	rely	VERB
easat-3052	368	8	on	on	ADP
easat-3052	368	9	loans	loan	NOUN
easat-3052	368	10	from	from	ADP
easat-3052	368	11	suppliers	supplier	NOUN
easat-3052	368	12	(	(	PUNCT
easat-3052	368	13	short	short	ADJ
easat-3052	368	14	term	term	NOUN
easat-3052	368	15	debt	debt	NOUN
easat-3052	368	16	)	)	PUNCT
easat-3052	368	17	than	than	ADP
easat-3052	368	18	from	from	ADP
easat-3052	368	19	banks	bank	NOUN
easat-3052	368	20	.	.	PUNCT
easat-3052	369	1	this	this	PRON
easat-3052	369	2	happens	happen	VERB
easat-3052	369	3	because	because	SCONJ
easat-3052	369	4	of	of	ADP
easat-3052	369	5	restrictive	restrictive	ADJ
easat-3052	369	6	procedures	procedure	NOUN
easat-3052	369	7	applied	apply	VERB
easat-3052	369	8	by	by	ADP
easat-3052	369	9	the	the	DET
easat-3052	369	10	banks	bank	NOUN
easat-3052	369	11	and	and	CCONJ
easat-3052	369	12	due	due	ADP
easat-3052	369	13	to	to	ADP
easat-3052	369	14	high	high	ADJ
easat-3052	369	15	interest	interest	NOUN
easat-3052	369	16	rates	rate	NOUN
easat-3052	369	17	on	on	ADP
easat-3052	369	18	loans	loan	NOUN
easat-3052	369	19	during	during	ADP
easat-3052	369	20	the	the	DET
easat-3052	369	21	study	study	NOUN
easat-3052	369	22	period	period	NOUN
easat-3052	369	23	in	in	ADP
easat-3052	369	24	albania	albania	PROPN
easat-3052	369	25	.	.	PUNCT
easat-3052	370	1	trade	trade	NOUN
easat-3052	370	2	-	-	PUNCT
easat-3052	370	3	off	off	ADP
easat-3052	370	4	theory	theory	NOUN
easat-3052	370	5	which	which	PRON
easat-3052	370	6	argues	argue	VERB
easat-3052	370	7	that	that	SCONJ
easat-3052	370	8	firms	firm	NOUN
easat-3052	370	9	increase	increase	VERB
easat-3052	370	10	the	the	DET
easat-3052	370	11	level	level	NOUN
easat-3052	370	12	of	of	ADP
easat-3052	370	13	debt	debt	NOUN
easat-3052	370	14	to	to	PART
easat-3052	370	15	take	take	VERB
easat-3052	370	16	benefit	benefit	NOUN
easat-3052	370	17	from	from	ADP
easat-3052	370	18	the	the	DET
easat-3052	370	19	deduction	deduction	NOUN
easat-3052	370	20	of	of	ADP
easat-3052	370	21	debt	debt	NOUN
easat-3052	370	22	interest	interest	NOUN
easat-3052	370	23	before	before	ADP
easat-3052	370	24	tax	tax	NOUN
easat-3052	370	25	is	be	AUX
easat-3052	370	26	not	not	PART
easat-3052	370	27	applicable	applicable	ADJ
easat-3052	370	28	in	in	ADP
easat-3052	370	29	albania	albania	PROPN
easat-3052	370	30	(	(	PUNCT
easat-3052	370	31	tirana	tirana	PROPN
easat-3052	370	32	district	district	PROPN
easat-3052	370	33	)	)	PUNCT
easat-3052	370	34	.	.	PUNCT
easat-3052	371	1	in	in	ADP
easat-3052	371	2	the	the	DET
easat-3052	371	3	sample	sample	NOUN
easat-3052	371	4	is	be	AUX
easat-3052	371	5	observed	observe	VERB
easat-3052	371	6	that	that	SCONJ
easat-3052	371	7	40.46	40.46	NUM
easat-3052	371	8	percent	percent	NOUN
easat-3052	371	9	of	of	ADP
easat-3052	371	10	assets	asset	NOUN
easat-3052	371	11	are	be	AUX
easat-3052	371	12	financed	finance	VERB
easat-3052	371	13	with	with	ADP
easat-3052	371	14	short	short	ADJ
easat-3052	371	15	-	-	PUNCT
easat-3052	371	16	term	term	NOUN
easat-3052	371	17	debt	debt	NOUN
easat-3052	371	18	,	,	PUNCT
easat-3052	371	19	which	which	PRON
easat-3052	371	20	shows	show	VERB
easat-3052	371	21	the	the	DET
easat-3052	371	22	collection	collection	NOUN
easat-3052	371	23	of	of	ADP
easat-3052	371	24	debts	debt	NOUN
easat-3052	371	25	from	from	ADP
easat-3052	371	26	suppliers	supplier	NOUN
easat-3052	371	27	and	and	CCONJ
easat-3052	371	28	for	for	ADP
easat-3052	371	29	liquidity	liquidity	NOUN
easat-3052	371	30	problems	problem	NOUN
easat-3052	371	31	by	by	ADP
easat-3052	371	32	the	the	DET
easat-3052	371	33	firms	firm	NOUN
easat-3052	371	34	.	.	PUNCT
easat-3052	372	1	from	from	ADP
easat-3052	372	2	the	the	DET
easat-3052	372	3	regression	regression	NOUN
easat-3052	372	4	analysis	analysis	NOUN
easat-3052	372	5	of	of	ADP
easat-3052	372	6	fixed	fix	VERB
easat-3052	372	7	effect	effect	NOUN
easat-3052	372	8	fem	fem	NOUN
easat-3052	372	9	is	be	AUX
easat-3052	372	10	proved	prove	VERB
easat-3052	372	11	that	that	SCONJ
easat-3052	372	12	:	:	PUNCT
easat-3052	372	13	in	in	ADP
easat-3052	372	14	the	the	DET
easat-3052	372	15	first	first	ADJ
easat-3052	372	16	regression	regression	NOUN
easat-3052	372	17	coefficients	coefficient	NOUN
easat-3052	372	18	of	of	ADP
easat-3052	372	19	lagged	lag	VERB
easat-3052	372	20	total	total	ADJ
easat-3052	372	21	-	-	PUNCT
easat-3052	372	22	term	term	NOUN
easat-3052	372	23	debt	debt	NOUN
easat-3052	372	24	ratio	ratio	NOUN
easat-3052	372	25	bt	bt	PROPN
easat-3052	372	26	(	(	PUNCT
easat-3052	372	27	-1	-1	PROPN
easat-3052	372	28	)	)	PUNCT
easat-3052	372	29	,	,	PUNCT
easat-3052	372	30	roe	roe	PROPN
easat-3052	372	31	,	,	PUNCT
easat-3052	372	32	roa	roa	PROPN
easat-3052	372	33	,	,	PUNCT
easat-3052	372	34	growth	growth	NOUN
easat-3052	372	35	opportunity	opportunity	NOUN
easat-3052	372	36	and	and	CCONJ
easat-3052	372	37	liquidity	liquidity	NOUN
easat-3052	372	38	are	be	AUX
easat-3052	372	39	statistically	statistically	ADV
easat-3052	372	40	significant	significant	ADJ
easat-3052	372	41	in	in	ADP
easat-3052	372	42	determining	determine	VERB
easat-3052	372	43	total	total	ADJ
easat-3052	372	44	-	-	PUNCT
easat-3052	372	45	term	term	NOUN
easat-3052	372	46	debt	debt	NOUN
easat-3052	372	47	ratio	ratio	NOUN
easat-3052	372	48	(	(	PUNCT
easat-3052	372	49	bt	bt	NOUN
easat-3052	372	50	)	)	PUNCT
easat-3052	372	51	.	.	PUNCT
easat-3052	373	1	also	also	ADV
easat-3052	373	2	,	,	PUNCT
easat-3052	373	3	factors	factor	NOUN
easat-3052	373	4	affecting	affect	VERB
easat-3052	373	5	positively	positively	ADV
easat-3052	373	6	this	this	DET
easat-3052	373	7	report	report	NOUN
easat-3052	373	8	were	be	AUX
easat-3052	373	9	bt	bt	PROPN
easat-3052	373	10	(	(	PUNCT
easat-3052	373	11	-1	-1	ADJ
easat-3052	373	12	)	)	PUNCT
easat-3052	373	13	,	,	PUNCT
easat-3052	373	14	roe	roe	NOUN
easat-3052	373	15	,	,	PUNCT
easat-3052	373	16	and	and	CCONJ
easat-3052	373	17	growth	growth	NOUN
easat-3052	373	18	opportunity	opportunity	NOUN
easat-3052	373	19	.	.	PUNCT
easat-3052	374	1	while	while	SCONJ
easat-3052	374	2	the	the	DET
easat-3052	374	3	factors	factor	NOUN
easat-3052	374	4	that	that	PRON
easat-3052	374	5	affect	affect	VERB
easat-3052	374	6	negatively	negatively	ADV
easat-3052	374	7	total	total	ADJ
easat-3052	374	8	-	-	PUNCT
easat-3052	374	9	term	term	NOUN
easat-3052	374	10	debt	debt	NOUN
easat-3052	374	11	ratio	ratio	NOUN
easat-3052	374	12	(	(	PUNCT
easat-3052	374	13	bt	bt	NOUN
easat-3052	374	14	)	)	PUNCT
easat-3052	374	15	are	be	AUX
easat-3052	374	16	roa	roa	NOUN
easat-3052	374	17	,	,	PUNCT
easat-3052	374	18	and	and	CCONJ
easat-3052	374	19	liquidity	liquidity	NOUN
easat-3052	374	20	.	.	PUNCT
easat-3052	375	1	in	in	ADP
easat-3052	375	2	the	the	DET
easat-3052	375	3	second	second	ADJ
easat-3052	375	4	regression	regression	NOUN
easat-3052	375	5	coefficients	coefficient	NOUN
easat-3052	375	6	of	of	ADP
easat-3052	375	7	lagged	lag	VERB
easat-3052	375	8	long	long	ADJ
easat-3052	375	9	-	-	PUNCT
easat-3052	375	10	term	term	NOUN
easat-3052	375	11	debt	debt	NOUN
easat-3052	375	12	ratio	ratio	NOUN
easat-3052	375	13	bagj	bagj	X
easat-3052	375	14	(	(	PUNCT
easat-3052	375	15	-1	-1	ADJ
easat-3052	375	16	)	)	PUNCT
easat-3052	375	17	,	,	PUNCT
easat-3052	375	18	roa	roa	PROPN
easat-3052	375	19	,	,	PUNCT
easat-3052	375	20	growth	growth	NOUN
easat-3052	375	21	opportunity	opportunity	NOUN
easat-3052	375	22	are	be	AUX
easat-3052	375	23	statistically	statistically	ADV
easat-3052	375	24	significant	significant	ADJ
easat-3052	375	25	in	in	ADP
easat-3052	375	26	determining	determine	VERB
easat-3052	375	27	long	long	ADJ
easat-3052	375	28	-	-	PUNCT
easat-3052	375	29	term	term	NOUN
easat-3052	375	30	debt	debt	NOUN
easat-3052	375	31	ratio	ratio	NOUN
easat-3052	375	32	(	(	PUNCT
easat-3052	375	33	bagj	bagj	PROPN
easat-3052	375	34	)	)	PUNCT
easat-3052	375	35	.	.	PUNCT
easat-3052	376	1	also	also	ADV
easat-3052	376	2	,	,	PUNCT
easat-3052	376	3	factors	factor	NOUN
easat-3052	376	4	affecting	affect	VERB
easat-3052	376	5	positively	positively	ADV
easat-3052	376	6	this	this	DET
easat-3052	376	7	report	report	NOUN
easat-3052	376	8	were	be	AUX
easat-3052	376	9	bagj	bagj	ADJ
easat-3052	376	10	(	(	PUNCT
easat-3052	376	11	-1	-1	ADJ
easat-3052	376	12	)	)	PUNCT
easat-3052	376	13	,	,	PUNCT
easat-3052	376	14	and	and	CCONJ
easat-3052	376	15	growth	growth	NOUN
easat-3052	376	16	opportunity	opportunity	NOUN
easat-3052	376	17	.	.	PUNCT
easat-3052	377	1	while	while	SCONJ
easat-3052	377	2	the	the	DET
easat-3052	377	3	factors	factor	NOUN
easat-3052	377	4	that	that	PRON
easat-3052	377	5	affect	affect	VERB
easat-3052	377	6	negatively	negatively	ADV
easat-3052	377	7	long	long	ADJ
easat-3052	377	8	-	-	PUNCT
easat-3052	377	9	term	term	NOUN
easat-3052	377	10	debt	debt	NOUN
easat-3052	377	11	ratio	ratio	NOUN
easat-3052	377	12	(	(	PUNCT
easat-3052	377	13	bagj	bagj	PROPN
easat-3052	377	14	)	)	PUNCT
easat-3052	377	15	are	be	AUX
easat-3052	377	16	roa	roa	PROPN
easat-3052	377	17	.	.	PUNCT
easat-3052	378	1	in	in	ADP
easat-3052	378	2	the	the	DET
easat-3052	378	3	third	third	ADJ
easat-3052	378	4	regression	regression	NOUN
easat-3052	378	5	coefficients	coefficient	NOUN
easat-3052	378	6	of	of	ADP
easat-3052	378	7	lagged	lag	VERB
easat-3052	378	8	short	short	ADJ
easat-3052	378	9	-	-	PUNCT
easat-3052	378	10	term	term	NOUN
easat-3052	378	11	debt	debt	NOUN
easat-3052	378	12	ratio	ratio	NOUN
easat-3052	378	13	bash	bash	NOUN
easat-3052	378	14	(	(	PUNCT
easat-3052	378	15	-1	-1	INTJ
easat-3052	378	16	)	)	PUNCT
easat-3052	378	17	,	,	PUNCT
easat-3052	378	18	roe	roe	NOUN
easat-3052	378	19	,	,	PUNCT
easat-3052	378	20	and	and	CCONJ
easat-3052	378	21	liquidity	liquidity	NOUN
easat-3052	378	22	are	be	AUX
easat-3052	378	23	statistically	statistically	ADV
easat-3052	378	24	significant	significant	ADJ
easat-3052	378	25	in	in	ADP
easat-3052	378	26	determining	determine	VERB
easat-3052	378	27	short	short	ADJ
easat-3052	378	28	-	-	PUNCT
easat-3052	378	29	term	term	NOUN
easat-3052	378	30	debt	debt	NOUN
easat-3052	378	31	ratio	ratio	NOUN
easat-3052	378	32	(	(	PUNCT
easat-3052	378	33	bash	bash	NOUN
easat-3052	378	34	)	)	PUNCT
easat-3052	378	35	.	.	PUNCT
easat-3052	379	1	also	also	ADV
easat-3052	379	2	,	,	PUNCT
easat-3052	379	3	factors	factor	NOUN
easat-3052	379	4	affecting	affect	VERB
easat-3052	379	5	positively	positively	ADV
easat-3052	379	6	this	this	DET
easat-3052	379	7	report	report	NOUN
easat-3052	379	8	were	be	AUX
easat-3052	379	9	bash	bash	NOUN
easat-3052	379	10	(	(	PUNCT
easat-3052	379	11	-1	-1	INTJ
easat-3052	379	12	)	)	PUNCT
easat-3052	379	13	.	.	PUNCT
easat-3052	380	1	while	while	SCONJ
easat-3052	380	2	the	the	DET
easat-3052	380	3	factors	factor	NOUN
easat-3052	380	4	that	that	PRON
easat-3052	380	5	affect	affect	VERB
easat-3052	380	6	negatively	negatively	ADV
easat-3052	380	7	short	short	ADJ
easat-3052	380	8	-	-	PUNCT
easat-3052	380	9	term	term	NOUN
easat-3052	380	10	debt	debt	NOUN
easat-3052	380	11	ratio	ratio	NOUN
easat-3052	380	12	(	(	PUNCT
easat-3052	380	13	bash	bash	NOUN
easat-3052	380	14	)	)	PUNCT
easat-3052	380	15	are	be	AUX
easat-3052	380	16	roa	roa	NOUN
easat-3052	380	17	and	and	CCONJ
easat-3052	380	18	liquidity	liquidity	NOUN
easat-3052	380	19	.	.	PUNCT
easat-3052	381	1	6	6	X
easat-3052	381	2	.	.	X
easat-3052	381	3	further	further	ADJ
easat-3052	381	4	research	research	NOUN
easat-3052	381	5	directions	direction	NOUN
easat-3052	381	6	6.1	6.1	NUM
easat-3052	381	7	.	.	PUNCT
easat-3052	382	1	recommendations	recommendation	NOUN
easat-3052	382	2	depending	depend	VERB
easat-3052	382	3	on	on	ADP
easat-3052	382	4	the	the	DET
easat-3052	382	5	actual	actual	ADJ
easat-3052	382	6	conditions	condition	NOUN
easat-3052	382	7	of	of	ADP
easat-3052	382	8	albania	albania	PROPN
easat-3052	382	9	,	,	PUNCT
easat-3052	382	10	which	which	PRON
easat-3052	382	11	is	be	AUX
easat-3052	382	12	considered	consider	VERB
easat-3052	382	13	a	a	DET
easat-3052	382	14	country	country	NOUN
easat-3052	382	15	in	in	ADP
easat-3052	382	16	transition	transition	NOUN
easat-3052	382	17	(	(	PUNCT
easat-3052	382	18	emerging	emerge	VERB
easat-3052	382	19	markets	market	NOUN
easat-3052	382	20	)	)	PUNCT
easat-3052	382	21	and	and	CCONJ
easat-3052	382	22	with	with	ADP
easat-3052	382	23	a	a	DET
easat-3052	382	24	rapid	rapid	ADJ
easat-3052	382	25	evolution	evolution	NOUN
easat-3052	382	26	of	of	ADP
easat-3052	382	27	the	the	DET
easat-3052	382	28	economic	economic	ADJ
easat-3052	382	29	and	and	CCONJ
easat-3052	382	30	financial	financial	ADJ
easat-3052	382	31	environment	environment	NOUN
easat-3052	382	32	,	,	PUNCT
easat-3052	382	33	it	it	PRON
easat-3052	382	34	would	would	AUX
easat-3052	382	35	be	be	AUX
easat-3052	382	36	4900	4900	NUM
easat-3052	382	37	edelweiss	edelweiss	PROPN
easat-3052	382	38	applied	apply	VERB
easat-3052	382	39	science	science	NOUN
easat-3052	382	40	and	and	CCONJ
easat-3052	382	41	technology	technology	NOUN
easat-3052	382	42	issn	issn	PROPN
easat-3052	382	43	:	:	PUNCT
easat-3052	382	44	2576	2576	NUM
easat-3052	382	45	-	-	SYM
easat-3052	382	46	8484	8484	NUM
easat-3052	382	47	vol	vol	NOUN
easat-3052	382	48	.	.	PROPN
easat-3052	382	49	8	8	NUM
easat-3052	382	50	,	,	PUNCT
easat-3052	382	51	no	no	INTJ
easat-3052	382	52	.	.	NOUN
easat-3052	383	1	6	6	NUM
easat-3052	383	2	:	:	SYM
easat-3052	383	3	4884	4884	NUM
easat-3052	383	4	-	-	SYM
easat-3052	383	5	4902	4902	NUM
easat-3052	383	6	,	,	PUNCT
easat-3052	383	7	2024	2024	NUM
easat-3052	383	8	doi	doi	NOUN
easat-3052	383	9	:	:	PUNCT
easat-3052	383	10	10.55214/25768484.v8i6.3052	10.55214/25768484.v8i6.3052	NUM
easat-3052	383	11	©	©	ADP
easat-3052	383	12	2024	2024	NUM
easat-3052	383	13	by	by	ADP
easat-3052	383	14	the	the	DET
easat-3052	383	15	author	author	NOUN
easat-3052	383	16	;	;	PUNCT
easat-3052	383	17	licensee	licensee	PROPN
easat-3052	383	18	learning	learn	VERB
easat-3052	383	19	gate	gate	NOUN
easat-3052	383	20	appropriate	appropriate	ADJ
easat-3052	383	21	for	for	SCONJ
easat-3052	383	22	firms	firm	NOUN
easat-3052	383	23	to	to	PART
easat-3052	383	24	determine	determine	VERB
easat-3052	383	25	their	their	PRON
easat-3052	383	26	optimal	optimal	ADJ
easat-3052	383	27	capital	capital	NOUN
easat-3052	383	28	structure	structure	NOUN
easat-3052	383	29	.	.	PUNCT
easat-3052	384	1	it	it	PRON
easat-3052	384	2	is	be	AUX
easat-3052	384	3	suggested	suggest	VERB
easat-3052	384	4	not	not	PART
easat-3052	384	5	a	a	DET
easat-3052	384	6	fixed	fix	VERB
easat-3052	384	7	structure	structure	NOUN
easat-3052	384	8	but	but	CCONJ
easat-3052	384	9	a	a	DET
easat-3052	384	10	fluctuating	fluctuate	VERB
easat-3052	384	11	one	one	NUM
easat-3052	384	12	depending	depend	VERB
easat-3052	384	13	on	on	ADP
easat-3052	384	14	the	the	DET
easat-3052	384	15	size	size	NOUN
easat-3052	384	16	of	of	ADP
easat-3052	384	17	firm	firm	NOUN
easat-3052	384	18	’s	’s	PART
easat-3052	384	19	investments	investment	NOUN
easat-3052	384	20	or	or	CCONJ
easat-3052	384	21	macroeconomic	macroeconomic	ADJ
easat-3052	384	22	conditions	condition	NOUN
easat-3052	384	23	or	or	CCONJ
easat-3052	384	24	environment	environment	NOUN
easat-3052	384	25	of	of	ADP
easat-3052	384	26	the	the	DET
easat-3052	384	27	country	country	NOUN
easat-3052	384	28	.	.	PUNCT
easat-3052	385	1	banks	bank	NOUN
easat-3052	385	2	should	should	AUX
easat-3052	385	3	facilitate	facilitate	VERB
easat-3052	385	4	lending	lending	NOUN
easat-3052	385	5	procedures	procedure	NOUN
easat-3052	385	6	and	and	CCONJ
easat-3052	385	7	should	should	AUX
easat-3052	385	8	apply	apply	VERB
easat-3052	385	9	reduced	reduced	ADJ
easat-3052	385	10	rates	rate	NOUN
easat-3052	385	11	of	of	ADP
easat-3052	385	12	interest	interest	NOUN
easat-3052	385	13	to	to	ADP
easat-3052	385	14	businesses	business	NOUN
easat-3052	385	15	that	that	PRON
easat-3052	385	16	have	have	VERB
easat-3052	385	17	ability	ability	NOUN
easat-3052	385	18	to	to	PART
easat-3052	385	19	repay	repay	VERB
easat-3052	385	20	the	the	DET
easat-3052	385	21	obligations	obligation	NOUN
easat-3052	385	22	of	of	ADP
easat-3052	385	23	debt	debt	NOUN
easat-3052	385	24	.	.	PUNCT
easat-3052	386	1	banks	bank	NOUN
easat-3052	386	2	should	should	AUX
easat-3052	386	3	train	train	VERB
easat-3052	386	4	their	their	PRON
easat-3052	386	5	employees	employee	NOUN
easat-3052	386	6	to	to	PART
easat-3052	386	7	better	well	ADV
easat-3052	386	8	estimate	estimate	VERB
easat-3052	386	9	businesses	business	NOUN
easat-3052	386	10	based	base	VERB
easat-3052	386	11	on	on	ADP
easat-3052	386	12	the	the	DET
easat-3052	386	13	industry	industry	NOUN
easat-3052	386	14	in	in	ADP
easat-3052	386	15	which	which	PRON
easat-3052	386	16	the	the	DET
easat-3052	386	17	firm	firm	NOUN
easat-3052	386	18	operates	operate	VERB
easat-3052	386	19	.	.	PUNCT
easat-3052	387	1	the	the	DET
easat-3052	387	2	tirana	tirana	PROPN
easat-3052	387	3	stock	stock	PROPN
easat-3052	387	4	exchange	exchange	PROPN
easat-3052	387	5	,	,	PUNCT
easat-3052	387	6	which	which	PRON
easat-3052	387	7	is	be	AUX
easat-3052	387	8	active	active	ADJ
easat-3052	387	9	but	but	CCONJ
easat-3052	387	10	not	not	PART
easat-3052	387	11	functional	functional	ADJ
easat-3052	387	12	,	,	PUNCT
easat-3052	387	13	needs	need	VERB
easat-3052	387	14	to	to	PART
easat-3052	387	15	be	be	AUX
easat-3052	387	16	operational	operational	ADJ
easat-3052	387	17	and	and	CCONJ
easat-3052	387	18	efficient	efficient	ADJ
easat-3052	387	19	.	.	PUNCT
easat-3052	388	1	this	this	PRON
easat-3052	388	2	is	be	AUX
easat-3052	388	3	crucial	crucial	ADJ
easat-3052	388	4	,	,	PUNCT
easat-3052	388	5	similar	similar	ADJ
easat-3052	388	6	to	to	ADP
easat-3052	388	7	the	the	DET
easat-3052	388	8	energy	energy	NOUN
easat-3052	388	9	exchange	exchange	NOUN
easat-3052	388	10	,	,	PUNCT
easat-3052	388	11	which	which	PRON
easat-3052	388	12	is	be	AUX
easat-3052	388	13	functioning	function	VERB
easat-3052	388	14	effectively	effectively	ADV
easat-3052	388	15	for	for	ADP
easat-3052	388	16	trading	trading	NOUN
easat-3052	388	17	and	and	CCONJ
easat-3052	388	18	also	also	ADV
easat-3052	388	19	providing	provide	VERB
easat-3052	388	20	access	access	NOUN
easat-3052	388	21	to	to	ADP
easat-3052	388	22	the	the	DET
easat-3052	388	23	need	need	NOUN
easat-3052	388	24	for	for	ADP
easat-3052	388	25	capital	capital	NOUN
easat-3052	388	26	.	.	PUNCT
easat-3052	389	1	6.2	6.2	NUM
easat-3052	389	2	.	.	PUNCT
easat-3052	389	3	limits	limit	NOUN
easat-3052	389	4	of	of	ADP
easat-3052	389	5	the	the	DET
easat-3052	389	6	study	study	NOUN
easat-3052	389	7	this	this	DET
easat-3052	389	8	study	study	NOUN
easat-3052	389	9	is	be	AUX
easat-3052	389	10	limited	limit	VERB
easat-3052	389	11	to	to	ADP
easat-3052	389	12	data	data	NOUN
easat-3052	389	13	collection	collection	NOUN
easat-3052	389	14	of	of	ADP
easat-3052	389	15	only	only	ADV
easat-3052	389	16	75	75	NUM
easat-3052	389	17	albanian	albanian	ADJ
easat-3052	389	18	entity	entity	NOUN
easat-3052	389	19	,	,	PUNCT
easat-3052	389	20	which	which	PRON
easat-3052	389	21	may	may	AUX
easat-3052	389	22	not	not	PART
easat-3052	389	23	be	be	AUX
easat-3052	389	24	sufficient	sufficient	ADJ
easat-3052	389	25	to	to	PART
easat-3052	389	26	represent	represent	VERB
easat-3052	389	27	the	the	DET
easat-3052	389	28	entire	entire	ADJ
easat-3052	389	29	population	population	NOUN
easat-3052	389	30	of	of	ADP
easat-3052	389	31	firms	firm	NOUN
easat-3052	389	32	in	in	ADP
easat-3052	389	33	tirana	tirana	PROPN
easat-3052	389	34	district	district	NOUN
easat-3052	389	35	.	.	PUNCT
easat-3052	390	1	in	in	ADP
easat-3052	390	2	the	the	DET
easat-3052	390	3	absence	absence	NOUN
easat-3052	390	4	of	of	ADP
easat-3052	390	5	active	active	ADJ
easat-3052	390	6	capital	capital	NOUN
easat-3052	390	7	markets	market	NOUN
easat-3052	390	8	in	in	ADP
easat-3052	390	9	albania	albania	PROPN
easat-3052	390	10	,	,	PUNCT
easat-3052	390	11	this	this	DET
easat-3052	390	12	study	study	NOUN
easat-3052	390	13	uses	use	VERB
easat-3052	390	14	only	only	ADV
easat-3052	390	15	accounting	account	VERB
easat-3052	390	16	data	datum	NOUN
easat-3052	390	17	and	and	CCONJ
easat-3052	390	18	non	non	ADJ
easat-3052	390	19	-	-	ADJ
easat-3052	390	20	market	market	ADJ
easat-3052	390	21	data	datum	NOUN
easat-3052	390	22	of	of	ADP
easat-3052	390	23	firms	firm	NOUN
easat-3052	390	24	to	to	PART
easat-3052	390	25	measure	measure	VERB
easat-3052	390	26	their	their	PRON
easat-3052	390	27	capital	capital	NOUN
easat-3052	390	28	structure	structure	NOUN
easat-3052	390	29	.	.	PUNCT
easat-3052	391	1	the	the	DET
easat-3052	391	2	period	period	NOUN
easat-3052	391	3	of	of	ADP
easat-3052	391	4	study	study	NOUN
easat-3052	391	5	may	may	AUX
easat-3052	391	6	be	be	AUX
easat-3052	391	7	short	short	ADJ
easat-3052	391	8	,	,	PUNCT
easat-3052	391	9	since	since	SCONJ
easat-3052	391	10	it	it	PRON
easat-3052	391	11	starts	start	VERB
easat-3052	391	12	from	from	ADP
easat-3052	391	13	2019	2019	NUM
easat-3052	391	14	and	and	CCONJ
easat-3052	391	15	ends	end	VERB
easat-3052	391	16	in	in	ADP
easat-3052	391	17	2023	2023	NUM
easat-3052	391	18	.	.	PUNCT
easat-3052	392	1	this	this	DET
easat-3052	392	2	study	study	NOUN
easat-3052	392	3	takes	take	VERB
easat-3052	392	4	into	into	ADP
easat-3052	392	5	account	account	NOUN
easat-3052	392	6	only	only	ADV
easat-3052	392	7	the	the	DET
easat-3052	392	8	secondary	secondary	ADJ
easat-3052	392	9	data	datum	NOUN
easat-3052	392	10	obtained	obtain	VERB
easat-3052	392	11	from	from	ADP
easat-3052	392	12	financial	financial	ADJ
easat-3052	392	13	statements	statement	NOUN
easat-3052	392	14	to	to	PART
easat-3052	392	15	determine	determine	VERB
easat-3052	392	16	the	the	DET
easat-3052	392	17	decision	decision	NOUN
easat-3052	392	18	of	of	ADP
easat-3052	392	19	capital	capital	NOUN
easat-3052	392	20	structure	structure	NOUN
easat-3052	392	21	of	of	ADP
easat-3052	392	22	firms	firm	NOUN
easat-3052	392	23	.	.	PUNCT
easat-3052	393	1	it	it	PRON
easat-3052	393	2	would	would	AUX
easat-3052	393	3	be	be	AUX
easat-3052	393	4	of	of	ADP
easat-3052	393	5	interest	interest	NOUN
easat-3052	393	6	the	the	DET
easat-3052	393	7	use	use	NOUN
easat-3052	393	8	of	of	ADP
easat-3052	393	9	primary	primary	ADJ
easat-3052	393	10	data	datum	NOUN
easat-3052	393	11	through	through	ADP
easat-3052	393	12	interviews	interview	NOUN
easat-3052	393	13	run	run	VERB
easat-3052	393	14	to	to	ADP
easat-3052	393	15	firm	firm	NOUN
easat-3052	393	16	’s	’s	PART
easat-3052	393	17	financial	financial	ADJ
easat-3052	393	18	managers	manager	NOUN
easat-3052	393	19	to	to	PART
easat-3052	393	20	better	well	ADV
easat-3052	393	21	identify	identify	VERB
easat-3052	393	22	the	the	DET
easat-3052	393	23	selection	selection	NOUN
easat-3052	393	24	by	by	ADP
easat-3052	393	25	their	their	PRON
easat-3052	393	26	capital	capital	NOUN
easat-3052	393	27	structure	structure	NOUN
easat-3052	393	28	.	.	PUNCT
easat-3052	394	1	this	this	DET
easat-3052	394	2	study	study	NOUN
easat-3052	394	3	takes	take	VERB
easat-3052	394	4	into	into	ADP
easat-3052	394	5	account	account	NOUN
easat-3052	394	6	only	only	ADV
easat-3052	394	7	the	the	DET
easat-3052	394	8	firm	firm	ADJ
easat-3052	394	9	specific	specific	ADJ
easat-3052	394	10	determinants	determinant	NOUN
easat-3052	394	11	of	of	ADP
easat-3052	394	12	capital	capital	NOUN
easat-3052	394	13	structure	structure	NOUN
easat-3052	394	14	.	.	PUNCT
easat-3052	395	1	it	it	PRON
easat-3052	395	2	would	would	AUX
easat-3052	395	3	be	be	AUX
easat-3052	395	4	of	of	ADP
easat-3052	395	5	interest	interest	NOUN
easat-3052	395	6	the	the	PRON
easat-3052	395	7	use	use	VERB
easat-3052	395	8	other	other	ADJ
easat-3052	395	9	factors	factor	NOUN
easat-3052	395	10	,	,	PUNCT
easat-3052	395	11	such	such	ADJ
easat-3052	395	12	as	as	ADP
easat-3052	395	13	macroeconomic	macroeconomic	ADJ
easat-3052	395	14	determinants	determinant	NOUN
easat-3052	395	15	.	.	PUNCT
easat-3052	396	1	this	this	PRON
easat-3052	396	2	is	be	AUX
easat-3052	396	3	left	leave	VERB
easat-3052	396	4	as	as	ADP
easat-3052	396	5	an	an	DET
easat-3052	396	6	open	open	ADJ
easat-3052	396	7	door	door	NOUN
easat-3052	396	8	for	for	ADP
easat-3052	396	9	future	future	ADJ
easat-3052	396	10	studies	study	NOUN
easat-3052	396	11	.	.	PUNCT
easat-3052	397	1	copyright	copyright	NOUN
easat-3052	397	2	:	:	PUNCT
easat-3052	397	3	©	©	PROPN
easat-3052	397	4	2024	2024	NUM
easat-3052	397	5	by	by	ADP
easat-3052	397	6	the	the	DET
easat-3052	397	7	authors	author	NOUN
easat-3052	397	8	.	.	PUNCT
easat-3052	398	1	this	this	DET
easat-3052	398	2	article	article	NOUN
easat-3052	398	3	is	be	AUX
easat-3052	398	4	an	an	DET
easat-3052	398	5	open	open	ADJ
easat-3052	398	6	access	access	NOUN
easat-3052	398	7	article	article	NOUN
easat-3052	398	8	distributed	distribute	VERB
easat-3052	398	9	under	under	ADP
easat-3052	398	10	the	the	DET
easat-3052	398	11	terms	term	NOUN
easat-3052	398	12	and	and	CCONJ
easat-3052	398	13	conditions	condition	NOUN
easat-3052	398	14	of	of	ADP
easat-3052	398	15	the	the	DET
easat-3052	398	16	creative	creative	ADJ
easat-3052	398	17	commons	common	NOUN
easat-3052	398	18	attribution	attribution	NOUN
easat-3052	398	19	(	(	PUNCT
easat-3052	398	20	cc	cc	NOUN
easat-3052	398	21	by	by	ADP
easat-3052	398	22	)	)	PUNCT
easat-3052	398	23	license	license	NOUN
easat-3052	398	24	(	(	PUNCT
easat-3052	398	25	https://creativecommons.org/licenses/by/4.0/	https://creativecommons.org/licenses/by/4.0/	PROPN
easat-3052	398	26	)	)	PUNCT
easat-3052	398	27	.	.	PUNCT
easat-3052	399	1	references	reference	NOUN
easat-3052	399	2	[	[	X
easat-3052	399	3	1	1	NUM
easat-3052	399	4	]	]	X
easat-3052	399	5	abdullah	abdullah	PROPN
easat-3052	399	6	,	,	PUNCT
easat-3052	399	7	h.	h.	PROPN
easat-3052	399	8	,	,	PUNCT
easat-3052	399	9	&	&	CCONJ
easat-3052	399	10	tursoy	tursoy	ADJ
easat-3052	399	11	,	,	PUNCT
easat-3052	399	12	t.	t.	NOUN
easat-3052	399	13	(	(	PUNCT
easat-3052	399	14	2021	2021	NUM
easat-3052	399	15	)	)	PUNCT
easat-3052	399	16	.	.	PUNCT
easat-3052	400	1	capital	capital	NOUN
easat-3052	400	2	structure	structure	NOUN
easat-3052	400	3	and	and	CCONJ
easat-3052	400	4	firm	firm	ADJ
easat-3052	400	5	performance	performance	NOUN
easat-3052	400	6	:	:	PUNCT
easat-3052	400	7	a	a	DET
easat-3052	400	8	panel	panel	NOUN
easat-3052	400	9	causality	causality	NOUN
easat-3052	400	10	test	test	NOUN
easat-3052	400	11	.	.	PUNCT
easat-3052	401	1	mpra	mpra	PROPN
easat-3052	401	2	paper	paper	PROPN
easat-3052	401	3	.	.	PUNCT
easat-3052	402	1	[	[	X
easat-3052	402	2	2	2	NUM
easat-3052	402	3	]	]	PUNCT
easat-3052	402	4	baker	baker	NOUN
easat-3052	402	5	,	,	PUNCT
easat-3052	402	6	m.	m.	NOUN
easat-3052	402	7	,	,	PUNCT
easat-3052	402	8	wurgler	wurgler	NOUN
easat-3052	402	9	,	,	PUNCT
easat-3052	402	10	j.	j.	PROPN
easat-3052	402	11	,	,	PUNCT
easat-3052	402	12	(	(	PUNCT
easat-3052	402	13	2002	2002	NUM
easat-3052	402	14	):	):	PUNCT
easat-3052	402	15	market	market	NOUN
easat-3052	402	16	timing	timing	NOUN
easat-3052	402	17	and	and	CCONJ
easat-3052	402	18	capital	capital	NOUN
easat-3052	402	19	structure	structure	NOUN
easat-3052	402	20	.	.	PUNCT
easat-3052	403	1	the	the	DET
easat-3052	403	2	journal	journal	PROPN
easat-3052	403	3	of	of	ADP
easat-3052	403	4	finance	finance	NOUN
easat-3052	403	5	,	,	PUNCT
easat-3052	403	6	2002	2002	NUM
easat-3052	403	7	,	,	PUNCT
easat-3052	403	8	vol	vol	NOUN
easat-3052	403	9	(	(	PUNCT
easat-3052	403	10	v11(1)):132	v11(1)):132	X
easat-3052	403	11	[	[	X
easat-3052	403	12	3	3	NUM
easat-3052	403	13	]	]	X
easat-3052	403	14	brealey	brealey	NOUN
easat-3052	403	15	,	,	PUNCT
easat-3052	403	16	myers	myers	PROPN
easat-3052	403	17	(	(	PUNCT
easat-3052	403	18	1999	1999	NUM
easat-3052	403	19	):	):	PUNCT
easat-3052	403	20	principi	principi	PROPN
easat-3052	403	21	di	di	PROPN
easat-3052	403	22	finanza	finanza	PROPN
easat-3052	403	23	aziendale	aziendale	PROPN
easat-3052	403	24	,	,	PUNCT
easat-3052	403	25	mc	mc	PROPN
easat-3052	403	26	graw	graw	PROPN
easat-3052	403	27	–	–	PUNCT
easat-3052	403	28	hill	hill	PROPN
easat-3052	403	29	libri	libri	PROPN
easat-3052	403	30	italia	italia	PROPN
easat-3052	403	31	s.r.l	s.r.l	NOUN
easat-3052	403	32	.	.	PUNCT
easat-3052	403	33	,	,	PUNCT
easat-3052	403	34	milano	milano	PROPN
easat-3052	403	35	.	.	PUNCT
easat-3052	404	1	[	[	X
easat-3052	404	2	4	4	NUM
easat-3052	404	3	]	]	X
easat-3052	404	4	cai	cai	X
easat-3052	404	5	,	,	PUNCT
easat-3052	404	6	f.	f.	PROPN
easat-3052	404	7	and	and	CCONJ
easat-3052	404	8	ghosh	ghosh	PROPN
easat-3052	404	9	,	,	PUNCT
easat-3052	404	10	a.	a.	PROPN
easat-3052	404	11	(	(	PUNCT
easat-3052	404	12	2003	2003	NUM
easat-3052	404	13	)	)	PUNCT
easat-3052	404	14	tests	test	NOUN
easat-3052	404	15	of	of	ADP
easat-3052	404	16	capital	capital	NOUN
easat-3052	404	17	structure	structure	NOUN
easat-3052	404	18	theory	theory	NOUN
easat-3052	404	19	:	:	PUNCT
easat-3052	404	20	a	a	DET
easat-3052	404	21	binomial	binomial	ADJ
easat-3052	404	22	approach	approach	NOUN
easat-3052	404	23	.	.	PUNCT
easat-3052	405	1	journal	journal	NOUN
easat-3052	405	2	of	of	ADP
easat-3052	405	3	business	business	NOUN
easat-3052	405	4	and	and	CCONJ
easat-3052	405	5	economics	economic	NOUN
easat-3052	405	6	studies	study	NOUN
easat-3052	405	7	,	,	PUNCT
easat-3052	405	8	9	9	NUM
easat-3052	405	9	,	,	PUNCT
easat-3052	405	10	20	20	NUM
easat-3052	405	11	-	-	SYM
easat-3052	405	12	32	32	NUM
easat-3052	405	13	.	.	PUNCT
easat-3052	406	1	[	[	X
easat-3052	406	2	5	5	NUM
easat-3052	406	3	]	]	X
easat-3052	406	4	cameron	cameron	PROPN
easat-3052	406	5	,	,	PUNCT
easat-3052	406	6	a.c	a.c	PROPN
easat-3052	406	7	.	.	PROPN
easat-3052	406	8	and	and	CCONJ
easat-3052	406	9	trivedi	trivedi	PROPN
easat-3052	406	10	,	,	PUNCT
easat-3052	406	11	p.k	p.k	PROPN
easat-3052	406	12	.	.	PROPN
easat-3052	406	13	(	(	PUNCT
easat-3052	406	14	2009	2009	NUM
easat-3052	406	15	)	)	PUNCT
easat-3052	406	16	microeconometrics	microeconometric	NOUN
easat-3052	406	17	using	use	VERB
easat-3052	406	18	stata	stata	PROPN
easat-3052	406	19	.	.	PUNCT
easat-3052	407	1	stata	stata	PROPN
easat-3052	407	2	press	press	PROPN
easat-3052	407	3	,	,	PUNCT
easat-3052	407	4	texas	texas	PROPN
easat-3052	407	5	.	.	PUNCT
easat-3052	408	1	[	[	X
easat-3052	408	2	6	6	NUM
easat-3052	408	3	]	]	X
easat-3052	408	4	chen	chen	PROPN
easat-3052	408	5	,	,	PUNCT
easat-3052	408	6	l.	l.	PROPN
easat-3052	408	7	h.	h.	PROPN
easat-3052	408	8	,	,	PUNCT
easat-3052	408	9	jiang	jiang	PROPN
easat-3052	408	10	.	.	PUNCT
easat-3052	409	1	g.	g.	PROPN
easat-3052	409	2	,	,	PUNCT
easat-3052	409	3	(	(	PUNCT
easat-3052	409	4	2001	2001	NUM
easat-3052	409	5	):	):	PUNCT
easat-3052	409	6	the	the	DET
easat-3052	409	7	determinants	determinant	NOUN
easat-3052	409	8	of	of	ADP
easat-3052	409	9	dutch	dutch	ADJ
easat-3052	409	10	capital	capital	NOUN
easat-3052	409	11	structure	structure	NOUN
easat-3052	409	12	choice	choice	NOUN
easat-3052	409	13	.	.	PUNCT
easat-3052	410	1	faculty	faculty	NOUN
easat-3052	410	2	of	of	ADP
easat-3052	410	3	business	business	NOUN
easat-3052	410	4	and	and	CCONJ
easat-3052	410	5	economics	economic	NOUN
easat-3052	410	6	,	,	PUNCT
easat-3052	410	7	university	university	NOUN
easat-3052	410	8	of	of	ADP
easat-3052	410	9	groningen	groningen	PROPN
easat-3052	410	10	,	,	PUNCT
easat-3052	410	11	ë	ë	PROPN
easat-3052	410	12	p	p	X
easat-3052	410	13	,	,	PUNCT
easat-3052	410	14	2001	2001	NUM
easat-3052	410	15	[	[	X
easat-3052	410	16	7	7	NUM
easat-3052	410	17	]	]	PUNCT
easat-3052	410	18	claggett	claggett	NOUN
easat-3052	410	19	,	,	PUNCT
easat-3052	410	20	jr	jr	PROPN
easat-3052	410	21	.	.	PROPN
easat-3052	410	22	,	,	PUNCT
easat-3052	410	23	e.t	e.t	PROPN
easat-3052	410	24	.	.	PROPN
easat-3052	410	25	,	,	PUNCT
easat-3052	410	26	1992	1992	NUM
easat-3052	410	27	,	,	PUNCT
easat-3052	410	28	"	"	PUNCT
easat-3052	410	29	capital	capital	NOUN
easat-3052	410	30	structure	structure	NOUN
easat-3052	410	31	:	:	PUNCT
easat-3052	410	32	convergent	convergent	NOUN
easat-3052	410	33	and	and	CCONJ
easat-3052	410	34	pecking	pecking	NOUN
easat-3052	410	35	order	order	NOUN
easat-3052	410	36	evidence	evidence	NOUN
easat-3052	410	37	,	,	PUNCT
easat-3052	410	38	"	"	PUNCT
easat-3052	410	39	review	review	NOUN
easat-3052	410	40	of	of	ADP
easat-3052	410	41	financial	financial	ADJ
easat-3052	410	42	economics	economic	NOUN
easat-3052	410	43	,	,	PUNCT
easat-3052	410	44	march	march	PROPN
easat-3052	410	45	,	,	PUNCT
easat-3052	410	46	35	35	NUM
easat-3052	410	47	-	-	SYM
easat-3052	410	48	48	48	NUM
easat-3052	410	49	.	.	PUNCT
easat-3052	411	1	[	[	X
easat-3052	411	2	8	8	NUM
easat-3052	411	3	]	]	SYM
easat-3052	411	4	çekrezi	çekrezi	NOUN
easat-3052	411	5	,	,	PUNCT
easat-3052	411	6	a.	a.	NOUN
easat-3052	411	7	,	,	PUNCT
easat-3052	411	8	(	(	PUNCT
easat-3052	411	9	2013	2013	NUM
easat-3052	411	10	):	):	PUNCT
easat-3052	411	11	analysing	analyse	VERB
easat-3052	411	12	the	the	DET
easat-3052	411	13	impact	impact	NOUN
easat-3052	411	14	of	of	ADP
easat-3052	411	15	firm	firm	NOUN
easat-3052	411	16	’s	’s	PART
easat-3052	411	17	specific	specific	ADJ
easat-3052	411	18	factors	factor	NOUN
easat-3052	411	19	and	and	CCONJ
easat-3052	411	20	macroeconomic	macroeconomic	ADJ
easat-3052	411	21	factors	factor	NOUN
easat-3052	411	22	on	on	ADP
easat-3052	411	23	capital	capital	NOUN
easat-3052	411	24	structure	structure	NOUN
easat-3052	411	25	:	:	PUNCT
easat-3052	411	26	a	a	DET
easat-3052	411	27	case	case	NOUN
easat-3052	411	28	of	of	ADP
easat-3052	411	29	small	small	ADJ
easat-3052	411	30	non	non	ADJ
easat-3052	411	31	-	-	ADJ
easat-3052	411	32	listed	listed	ADJ
easat-3052	411	33	firms	firm	NOUN
easat-3052	411	34	in	in	ADP
easat-3052	411	35	albania	albania	PROPN
easat-3052	411	36	,	,	PUNCT
easat-3052	411	37	research	research	NOUN
easat-3052	411	38	journal	journal	NOUN
easat-3052	411	39	of	of	ADP
easat-3052	411	40	finance	finance	NOUN
easat-3052	411	41	and	and	CCONJ
easat-3052	411	42	accounting	accounting	NOUN
easat-3052	411	43	,	,	PUNCT
easat-3052	411	44	vol	vol	NOUN
easat-3052	411	45	(	(	PUNCT
easat-3052	411	46	4(8	4(8	NUM
easat-3052	411	47	)	)	PUNCT
easat-3052	411	48	):	):	PUNCT
easat-3052	411	49	90	90	NUM
easat-3052	411	50	-	-	SYM
easat-3052	411	51	95	95	NUM
easat-3052	411	52	,	,	PUNCT
easat-3052	411	53	uk	uk	PROPN
easat-3052	411	54	(	(	PUNCT
easat-3052	411	55	issn	issn	PROPN
easat-3052	411	56	:	:	PUNCT
easat-3052	411	57	2222	2222	NUM
easat-3052	411	58	-	-	SYM
easat-3052	411	59	1697	1697	NUM
easat-3052	411	60	)	)	PUNCT
easat-3052	411	61	index	index	NOUN
easat-3052	411	62	copernicus	copernicus	PROPN
easat-3052	411	63	impact	impact	NOUN
easat-3052	411	64	factor-6.26	factor-6.26	NOUN
easat-3052	411	65	.	.	PUNCT
easat-3052	412	1	[	[	X
easat-3052	412	2	9	9	NUM
easat-3052	412	3	]	]	PUNCT
easat-3052	412	4	damodaran	damodaran	NOUN
easat-3052	412	5	,	,	PUNCT
easat-3052	412	6	roggi	roggi	PROPN
easat-3052	412	7	.	.	PUNCT
easat-3052	412	8	,	,	PUNCT
easat-3052	412	9	(	(	PUNCT
easat-3052	412	10	2015	2015	NUM
easat-3052	412	11	):	):	PUNCT
easat-3052	412	12	finanza	finanza	PROPN
easat-3052	412	13	aziendale	aziendale	PROPN
easat-3052	412	14	,	,	PUNCT
easat-3052	412	15	aplicazioni	aplicazioni	NOUN
easat-3052	412	16	per	per	ADP
easat-3052	412	17	il	il	PROPN
easat-3052	412	18	management	management	NOUN
easat-3052	412	19	,	,	PUNCT
easat-3052	412	20	quarta	quarta	PROPN
easat-3052	412	21	edizione	edizione	NOUN
easat-3052	412	22	.	.	PUNCT
easat-3052	413	1	apogeo	apogeo	PROPN
easat-3052	413	2	.	.	PUNCT
easat-3052	414	1	[	[	X
easat-3052	414	2	10	10	NUM
easat-3052	414	3	]	]	PUNCT
easat-3052	414	4	deangelo	deangelo	PROPN
easat-3052	414	5	,	,	PUNCT
easat-3052	414	6	h.	h.	PROPN
easat-3052	414	7	,	,	PUNCT
easat-3052	414	8	masulis	masulis	PROPN
easat-3052	414	9	,	,	PUNCT
easat-3052	414	10	r.ë	r.ë	PROPN
easat-3052	414	11	.	.	PROPN
easat-3052	414	12	,	,	PUNCT
easat-3052	414	13	(	(	PUNCT
easat-3052	414	14	1980	1980	NUM
easat-3052	414	15	):	):	PUNCT
easat-3052	414	16	optimal	optimal	ADJ
easat-3052	414	17	capital	capital	NOUN
easat-3052	414	18	structure	structure	NOUN
easat-3052	414	19	under	under	ADP
easat-3052	414	20	corporate	corporate	ADJ
easat-3052	414	21	and	and	CCONJ
easat-3052	414	22	personal	personal	ADJ
easat-3052	414	23	taxation	taxation	NOUN
easat-3052	414	24	.	.	PUNCT
easat-3052	415	1	journal	journal	PROPN
easat-3052	415	2	of	of	ADP
easat-3052	415	3	financial	financial	ADJ
easat-3052	415	4	economics,1980	economics,1980	NOUN
easat-3052	415	5	,	,	PUNCT
easat-3052	415	6	vol	vol	NOUN
easat-3052	415	7	(	(	PUNCT
easat-3052	415	8	8)	8)	NUM
easat-3052	415	9	:	:	PUNCT
easat-3052	415	10	3	3	NUM
easat-3052	415	11	-	-	SYM
easat-3052	415	12	29	29	NUM
easat-3052	415	13	[	[	X
easat-3052	415	14	11	11	NUM
easat-3052	415	15	]	]	SYM
easat-3052	415	16	degryse	degryse	NOUN
easat-3052	415	17	,	,	PUNCT
easat-3052	415	18	h.	h.	PROPN
easat-3052	415	19	,	,	PUNCT
easat-3052	415	20	de	de	PROPN
easat-3052	415	21	goeij	goeij	PROPN
easat-3052	415	22	,	,	PUNCT
easat-3052	415	23	p.	p.	PROPN
easat-3052	415	24	,	,	PUNCT
easat-3052	415	25	&	&	CCONJ
easat-3052	415	26	kappert	kappert	PROPN
easat-3052	415	27	,	,	PUNCT
easat-3052	415	28	p.	p.	NOUN
easat-3052	415	29	(	(	PUNCT
easat-3052	415	30	2012	2012	NUM
easat-3052	415	31	)	)	PUNCT
easat-3052	415	32	.	.	PUNCT
easat-3052	416	1	the	the	DET
easat-3052	416	2	impact	impact	NOUN
easat-3052	416	3	of	of	ADP
easat-3052	416	4	firm	firm	ADJ
easat-3052	416	5	and	and	CCONJ
easat-3052	416	6	industry	industry	NOUN
easat-3052	416	7	characteristics	characteristic	NOUN
easat-3052	416	8	on	on	ADP
easat-3052	416	9	small	small	ADJ
easat-3052	416	10	firms	firm	NOUN
easat-3052	416	11	’	'	PUNCT
easat-3052	416	12	capital	capital	NOUN
easat-3052	416	13	structure	structure	NOUN
easat-3052	416	14	.	.	PUNCT
easat-3052	417	1	small	small	ADJ
easat-3052	417	2	business	business	NOUN
easat-3052	417	3	economics	economic	NOUN
easat-3052	417	4	,	,	PUNCT
easat-3052	417	5	38	38	NUM
easat-3052	417	6	,	,	PUNCT
easat-3052	417	7	431	431	NUM
easat-3052	417	8	-	-	SYM
easat-3052	417	9	447	447	NUM
easat-3052	417	10	.	.	PUNCT
easat-3052	418	1	[	[	X
easat-3052	418	2	12	12	NUM
easat-3052	418	3	]	]	X
easat-3052	418	4	frank	frank	PROPN
easat-3052	418	5	m.	m.	PROPN
easat-3052	418	6	z.	z.	PROPN
easat-3052	418	7	,	,	PUNCT
easat-3052	418	8	goyal	goyal	PROPN
easat-3052	418	9	.	.	PUNCT
easat-3052	419	1	v.k	v.k	PROPN
easat-3052	419	2	.	.	PROPN
easat-3052	419	3	,	,	PUNCT
easat-3052	419	4	(	(	PUNCT
easat-3052	419	5	2005	2005	NUM
easat-3052	419	6	):	):	PUNCT
easat-3052	419	7	trade	trade	NOUN
easat-3052	419	8	-	-	PUNCT
easat-3052	419	9	off	off	NOUN
easat-3052	419	10	and	and	CCONJ
easat-3052	419	11	pecking	pecking	NOUN
easat-3052	419	12	order	order	NOUN
easat-3052	419	13	theories	theory	NOUN
easat-3052	419	14	of	of	ADP
easat-3052	419	15	debt	debt	NOUN
easat-3052	419	16	.	.	PUNCT
easat-3052	420	1	university	university	NOUN
easat-3052	420	2	of	of	ADP
easat-3052	420	3	british	british	PROPN
easat-3052	420	4	,	,	PUNCT
easat-3052	420	5	columbia	columbia	PROPN
easat-3052	420	6	.	.	PUNCT
easat-3052	421	1	ë	ë	X
easat-3052	421	2	p	p	X
easat-3052	421	3	,	,	PUNCT
easat-3052	421	4	2005	2005	NUM
easat-3052	421	5	.	.	PUNCT
easat-3052	422	1	[	[	X
easat-3052	422	2	13	13	NUM
easat-3052	422	3	]	]	X
easat-3052	422	4	frank	frank	PROPN
easat-3052	422	5	,	,	PUNCT
easat-3052	422	6	m.	m.	NOUN
easat-3052	422	7	z.	z.	PROPN
easat-3052	422	8	,	,	PUNCT
easat-3052	422	9	goyal	goyal	PROPN
easat-3052	422	10	,	,	PUNCT
easat-3052	422	11	v.k	v.k	PROPN
easat-3052	422	12	.	.	PROPN
easat-3052	422	13	,	,	PUNCT
easat-3052	422	14	(	(	PUNCT
easat-3052	422	15	2003	2003	NUM
easat-3052	422	16	):	):	PUNCT
easat-3052	422	17	testing	test	VERB
easat-3052	422	18	the	the	DET
easat-3052	422	19	pecking	pecking	NOUN
easat-3052	422	20	order	order	NOUN
easat-3052	422	21	theory	theory	NOUN
easat-3052	422	22	of	of	ADP
easat-3052	422	23	capital	capital	NOUN
easat-3052	422	24	structure	structure	NOUN
easat-3052	422	25	.	.	PUNCT
easat-3052	423	1	journal	journal	NOUN
easat-3052	423	2	of	of	ADP
easat-3052	423	3	financial	financial	ADJ
easat-3052	423	4	economics	economic	NOUN
easat-3052	423	5	,	,	PUNCT
easat-3052	423	6	2003	2003	NUM
easat-3052	423	7	,	,	PUNCT
easat-3052	423	8	vol	vol	NOUN
easat-3052	423	9	(	(	PUNCT
easat-3052	423	10	67	67	NUM
easat-3052	423	11	):	):	PUNCT
easat-3052	423	12	217	217	NUM
easat-3052	423	13	-	-	SYM
easat-3052	423	14	248	248	NUM
easat-3052	423	15	.	.	PUNCT
easat-3052	424	1	[	[	X
easat-3052	424	2	14	14	NUM
easat-3052	424	3	]	]	X
easat-3052	424	4	frank	frank	PROPN
easat-3052	424	5	,	,	PUNCT
easat-3052	424	6	m.z	m.z	PROPN
easat-3052	424	7	.	.	PROPN
easat-3052	424	8	,	,	PUNCT
easat-3052	424	9	goyal	goyal	PROPN
easat-3052	424	10	,	,	PUNCT
easat-3052	424	11	v.k	v.k	PROPN
easat-3052	424	12	.	.	PROPN
easat-3052	424	13	,	,	PUNCT
easat-3052	424	14	(	(	PUNCT
easat-3052	424	15	2007	2007	NUM
easat-3052	424	16	):	):	PUNCT
easat-3052	424	17	trade	trade	NOUN
easat-3052	424	18	-	-	PUNCT
easat-3052	424	19	off	off	NOUN
easat-3052	424	20	and	and	CCONJ
easat-3052	424	21	pecking	pecking	NOUN
easat-3052	424	22	order	order	NOUN
easat-3052	424	23	theories	theory	NOUN
easat-3052	424	24	of	of	ADP
easat-3052	424	25	debt	debt	NOUN
easat-3052	424	26	,	,	PUNCT
easat-3052	424	27	in	in	ADP
easat-3052	424	28	b.e	b.e	PROPN
easat-3052	424	29	.	.	PROPN
easat-3052	424	30	eckbo	eckbo	PROPN
easat-3052	424	31	,	,	PUNCT
easat-3052	424	32	(	(	PUNCT
easat-3052	424	33	ed	ed	NOUN
easat-3052	424	34	.	.	PUNCT
easat-3052	424	35	)	)	PUNCT
easat-3052	425	1	handbook	handbook	NOUN
easat-3052	425	2	of	of	ADP
easat-3052	425	3	corporate	corporate	ADJ
easat-3052	425	4	finance	finance	NOUN
easat-3052	425	5	:	:	PUNCT
easat-3052	425	6	empirical	empirical	ADJ
easat-3052	425	7	corporate	corporate	ADJ
easat-3052	425	8	finance,2007	finance,2007	NOUN
easat-3052	425	9	,	,	PUNCT
easat-3052	425	10	vol	vol	NOUN
easat-3052	425	11	(	(	PUNCT
easat-3052	425	12	2	2	NUM
easat-3052	425	13	)	)	PUNCT
easat-3052	425	14	,	,	PUNCT
easat-3052	425	15	in	in	ADP
easat-3052	425	16	:	:	PUNCT
easat-3052	425	17	handbook	handbook	NOUN
easat-3052	425	18	of	of	ADP
easat-3052	425	19	finance	finance	NOUN
easat-3052	425	20	series	series	NOUN
easat-3052	425	21	,	,	PUNCT
easat-3052	425	22	elsevier	elsevier	NOUN
easat-3052	425	23	/	/	SYM
easat-3052	425	24	northholland	northholland	PROPN
easat-3052	425	25	,	,	PUNCT
easat-3052	425	26	amsterdam	amsterdam	PROPN
easat-3052	425	27	[	[	X
easat-3052	425	28	15	15	NUM
easat-3052	425	29	]	]	X
easat-3052	425	30	frank	frank	PROPN
easat-3052	425	31	,	,	PUNCT
easat-3052	425	32	m.z	m.z	PROPN
easat-3052	425	33	.	.	PROPN
easat-3052	425	34	,	,	PUNCT
easat-3052	425	35	goyal	goyal	PROPN
easat-3052	425	36	,	,	PUNCT
easat-3052	425	37	v.k	v.k	PROPN
easat-3052	425	38	.	.	PROPN
easat-3052	425	39	,	,	PUNCT
easat-3052	425	40	(	(	PUNCT
easat-3052	425	41	2009	2009	NUM
easat-3052	425	42	):	):	PUNCT
easat-3052	425	43	capital	capital	NOUN
easat-3052	425	44	structure	structure	NOUN
easat-3052	425	45	decisions	decision	NOUN
easat-3052	425	46	:	:	PUNCT
easat-3052	425	47	which	which	DET
easat-3052	425	48	factors	factor	NOUN
easat-3052	425	49	are	be	AUX
easat-3052	425	50	reliably	reliably	ADV
easat-3052	425	51	important	important	ADJ
easat-3052	425	52	?	?	PUNCT
easat-3052	426	1	financial	financial	ADJ
easat-3052	426	2	management	management	NOUN
easat-3052	426	3	,	,	PUNCT
easat-3052	426	4	2009	2009	NUM
easat-3052	426	5	,	,	PUNCT
easat-3052	426	6	vol	vol	NOUN
easat-3052	426	7	(	(	PUNCT
easat-3052	426	8	38	38	NUM
easat-3052	426	9	):	):	PUNCT
easat-3052	426	10	1	1	NUM
easat-3052	426	11	-	-	SYM
easat-3052	426	12	37	37	NUM
easat-3052	426	13	[	[	X
easat-3052	426	14	16	16	NUM
easat-3052	426	15	]	]	X
easat-3052	426	16	ghosh	ghosh	PROPN
easat-3052	426	17	,	,	PUNCT
easat-3052	426	18	a.	a.	NOUN
easat-3052	426	19	(	(	PUNCT
easat-3052	426	20	2008	2008	NUM
easat-3052	426	21	)	)	PUNCT
easat-3052	426	22	.	.	PUNCT
easat-3052	427	1	capital	capital	NOUN
easat-3052	427	2	structure	structure	NOUN
easat-3052	427	3	and	and	CCONJ
easat-3052	427	4	firm	firm	ADJ
easat-3052	427	5	performance	performance	NOUN
easat-3052	427	6	(	(	PUNCT
easat-3052	427	7	1st	1st	ADJ
easat-3052	427	8	ed	ed	NOUN
easat-3052	427	9	.	.	PUNCT
easat-3052	427	10	)	)	PUNCT
easat-3052	428	1	https://creativecommons.org/licenses/by/4.0/	https://creativecommons.org/licenses/by/4.0/	PROPN
easat-3052	428	2	4901	4901	PROPN
easat-3052	428	3	edelweiss	edelweiss	PROPN
easat-3052	428	4	applied	apply	VERB
easat-3052	428	5	science	science	NOUN
easat-3052	428	6	and	and	CCONJ
easat-3052	428	7	technology	technology	NOUN
easat-3052	428	8	issn	issn	PROPN
easat-3052	428	9	:	:	PUNCT
easat-3052	428	10	2576	2576	NUM
easat-3052	428	11	-	-	SYM
easat-3052	428	12	8484	8484	NUM
easat-3052	428	13	vol	vol	NOUN
easat-3052	428	14	.	.	PROPN
easat-3052	428	15	8	8	NUM
easat-3052	428	16	,	,	PUNCT
easat-3052	428	17	no	no	INTJ
easat-3052	428	18	.	.	NOUN
easat-3052	429	1	6	6	NUM
easat-3052	429	2	:	:	SYM
easat-3052	429	3	4884	4884	NUM
easat-3052	429	4	-	-	SYM
easat-3052	429	5	4902	4902	NUM
easat-3052	429	6	,	,	PUNCT
easat-3052	429	7	2024	2024	NUM
easat-3052	429	8	doi	doi	NOUN
easat-3052	429	9	:	:	PUNCT
easat-3052	429	10	10.55214/25768484.v8i6.3052	10.55214/25768484.v8i6.3052	NUM
easat-3052	429	11	©	©	ADP
easat-3052	429	12	2024	2024	NUM
easat-3052	429	13	by	by	ADP
easat-3052	429	14	the	the	DET
easat-3052	429	15	author	author	NOUN
easat-3052	429	16	;	;	PUNCT
easat-3052	429	17	licensee	licensee	PROPN
easat-3052	429	18	learning	learning	NOUN
easat-3052	429	19	gate	gate	NOUN
easat-3052	429	20	[	[	X
easat-3052	429	21	17	17	NUM
easat-3052	429	22	]	]	X
easat-3052	429	23	ghosh	ghosh	PROPN
easat-3052	429	24	,	,	PUNCT
easat-3052	429	25	a.	a.	PROPN
easat-3052	429	26	,	,	PUNCT
easat-3052	429	27	&	&	CCONJ
easat-3052	429	28	cai	cai	PROPN
easat-3052	429	29	,	,	PUNCT
easat-3052	429	30	f.	f.	PROPN
easat-3052	429	31	(	(	PUNCT
easat-3052	429	32	2004	2004	NUM
easat-3052	429	33	)	)	PUNCT
easat-3052	429	34	.	.	PUNCT
easat-3052	430	1	optimal	optimal	ADJ
easat-3052	430	2	capital	capital	NOUN
easat-3052	430	3	structure	structure	NOUN
easat-3052	430	4	vs.	vs.	ADP
easat-3052	430	5	pecking	pecking	NOUN
easat-3052	430	6	order	order	NOUN
easat-3052	430	7	theory	theory	NOUN
easat-3052	430	8	:	:	PUNCT
easat-3052	430	9	a	a	DET
easat-3052	430	10	further	further	ADJ
easat-3052	430	11	test	test	NOUN
easat-3052	430	12	.	.	PUNCT
easat-3052	431	1	journal	journal	PROPN
easat-3052	431	2	of	of	ADP
easat-3052	431	3	business	business	PROPN
easat-3052	431	4	&	&	CCONJ
easat-3052	431	5	economics	economics	PROPN
easat-3052	431	6	research	research	PROPN
easat-3052	431	7	(	(	PUNCT
easat-3052	431	8	jber	jber	PROPN
easat-3052	431	9	)	)	PUNCT
easat-3052	431	10	,	,	PUNCT
easat-3052	431	11	2(8	2(8	NUM
easat-3052	431	12	)	)	PUNCT
easat-3052	431	13	.	.	PUNCT
easat-3052	432	1	retrived	retrive	VERB
easat-3052	432	2	from	from	ADP
easat-3052	432	3	.	.	PUNCT
easat-3052	433	1	https://doi.org/10.19030/jber.v2i8.2912	https://doi.org/10.19030/jber.v2i8.2912	PROPN
easat-3052	433	2	[	[	X
easat-3052	433	3	18	18	NUM
easat-3052	433	4	]	]	X
easat-3052	433	5	ghosh	ghosh	PROPN
easat-3052	433	6	,	,	PUNCT
easat-3052	433	7	a.	a.	PROPN
easat-3052	433	8	,	,	PUNCT
easat-3052	433	9	cai	cai	PROPN
easat-3052	433	10	,	,	PUNCT
easat-3052	433	11	f.	f.	PROPN
easat-3052	433	12	(	(	PUNCT
easat-3052	433	13	1999	1999	NUM
easat-3052	433	14	)	)	PUNCT
easat-3052	433	15	capital	capital	NOUN
easat-3052	433	16	structure	structure	NOUN
easat-3052	433	17	:	:	PUNCT
easat-3052	433	18	new	new	ADJ
easat-3052	433	19	evidence	evidence	NOUN
easat-3052	433	20	of	of	ADP
easat-3052	433	21	optimality	optimality	NOUN
easat-3052	433	22	and	and	CCONJ
easat-3052	433	23	pecking	pecking	NOUN
easat-3052	433	24	order	order	NOUN
easat-3052	433	25	theory	theory	NOUN
easat-3052	433	26	american	american	PROPN
easat-3052	433	27	business	business	PROPN
easat-3052	433	28	review	review	PROPN
easat-3052	433	29	;	;	PUNCT
easat-3052	433	30	west	west	PROPN
easat-3052	433	31	haven	haven	PROPN
easat-3052	433	32	vol	vol	PROPN
easat-3052	433	33	.	.	PROPN
easat-3052	433	34	17	17	NUM
easat-3052	433	35	,	,	PUNCT
easat-3052	433	36	iss	iss	PROPN
easat-3052	433	37	.	.	PROPN
easat-3052	433	38	1	1	NUM
easat-3052	433	39	,	,	PUNCT
easat-3052	433	40	(	(	PUNCT
easat-3052	433	41	jan	jan	PROPN
easat-3052	433	42	1999	1999	NUM
easat-3052	433	43	):	):	PUNCT
easat-3052	433	44	32	32	NUM
easat-3052	433	45	-	-	SYM
easat-3052	433	46	38	38	NUM
easat-3052	433	47	.	.	PUNCT
easat-3052	434	1	[	[	X
easat-3052	434	2	19	19	NUM
easat-3052	434	3	]	]	X
easat-3052	434	4	ghosh	ghosh	PROPN
easat-3052	434	5	,	,	PUNCT
easat-3052	434	6	a.	a.	PROPN
easat-3052	434	7	,	,	PUNCT
easat-3052	434	8	cai	cai	PROPN
easat-3052	434	9	,	,	PUNCT
easat-3052	434	10	f.	f.	PROPN
easat-3052	434	11	,	,	PUNCT
easat-3052	434	12	li	li	PROPN
easat-3052	434	13	,	,	PUNCT
easat-3052	434	14	w.	w.	PROPN
easat-3052	434	15	(	(	PUNCT
easat-3052	434	16	2000	2000	NUM
easat-3052	434	17	)	)	PUNCT
easat-3052	434	18	the	the	DET
easat-3052	434	19	determinants	determinant	NOUN
easat-3052	434	20	of	of	ADP
easat-3052	434	21	capital	capital	NOUN
easat-3052	434	22	structure	structure	NOUN
easat-3052	434	23	.	.	PUNCT
easat-3052	435	1	american	american	PROPN
easat-3052	435	2	business	business	PROPN
easat-3052	435	3	review	review	PROPN
easat-3052	435	4	;	;	PUNCT
easat-3052	435	5	west	west	PROPN
easat-3052	435	6	haven	haven	PROPN
easat-3052	435	7	vol	vol	NOUN
easat-3052	435	8	.	.	PROPN
easat-3052	436	1	18	18	NUM
easat-3052	436	2	,	,	PUNCT
easat-3052	436	3	iss	iss	PROPN
easat-3052	436	4	.	.	PROPN
easat-3052	436	5	2	2	NUM
easat-3052	436	6	,	,	PUNCT
easat-3052	436	7	(	(	PUNCT
easat-3052	436	8	june	june	PROPN
easat-3052	436	9	2000	2000	NUM
easat-3052	436	10	)	)	PUNCT
easat-3052	436	11	:	:	PUNCT
easat-3052	437	1	129	129	NUM
easat-3052	437	2	-	-	SYM
easat-3052	437	3	132	132	NUM
easat-3052	437	4	.	.	PUNCT
easat-3052	438	1	[	[	X
easat-3052	438	2	20	20	NUM
easat-3052	438	3	]	]	X
easat-3052	438	4	gujarati	gujarati	PROPN
easat-3052	438	5	,	,	PUNCT
easat-3052	438	6	d.	d.	PROPN
easat-3052	438	7	n.	n.	PROPN
easat-3052	438	8	(	(	PUNCT
easat-3052	438	9	2003	2003	NUM
easat-3052	438	10	)	)	PUNCT
easat-3052	438	11	.	.	PUNCT
easat-3052	439	1	basic	basic	ADJ
easat-3052	439	2	econometrics	econometrics	NOUN
easat-3052	439	3	$	$	SYM
easat-3052	439	4	th	th	PRON
easat-3052	439	5	edition	edition	NOUN
easat-3052	439	6	[	[	X
easat-3052	439	7	21	21	NUM
easat-3052	439	8	]	]	X
easat-3052	439	9	hall	hall	NOUN
easat-3052	439	10	,	,	PUNCT
easat-3052	439	11	g.	g.	PROPN
easat-3052	439	12	c.	c.	PROPN
easat-3052	439	13	,	,	PUNCT
easat-3052	439	14	hutchinson	hutchinson	PROPN
easat-3052	439	15	,	,	PUNCT
easat-3052	439	16	p.	p.	PROPN
easat-3052	439	17	j.	j.	PROPN
easat-3052	439	18	,	,	PUNCT
easat-3052	439	19	&	&	CCONJ
easat-3052	439	20	michaelas	michaelas	PROPN
easat-3052	439	21	,	,	PUNCT
easat-3052	439	22	n.	n.	PROPN
easat-3052	439	23	(	(	PUNCT
easat-3052	439	24	2004	2004	NUM
easat-3052	439	25	)	)	PUNCT
easat-3052	439	26	.	.	PUNCT
easat-3052	440	1	determinants	determinant	NOUN
easat-3052	440	2	of	of	ADP
easat-3052	440	3	the	the	DET
easat-3052	440	4	capital	capital	NOUN
easat-3052	440	5	structures	structure	NOUN
easat-3052	440	6	of	of	ADP
easat-3052	440	7	european	european	ADJ
easat-3052	440	8	smes	sme	NOUN
easat-3052	440	9	.	.	PUNCT
easat-3052	441	1	journal	journal	PROPN
easat-3052	441	2	of	of	ADP
easat-3052	441	3	business	business	NOUN
easat-3052	441	4	finance	finance	PROPN
easat-3052	441	5	&	&	CCONJ
easat-3052	441	6	accounting	accounting	PROPN
easat-3052	441	7	,	,	PUNCT
easat-3052	441	8	31(5	31(5	NUM
easat-3052	441	9	-	-	SYM
easat-3052	441	10	6	6	NUM
easat-3052	441	11	)	)	PUNCT
easat-3052	441	12	.	.	PUNCT
easat-3052	442	1	[	[	X
easat-3052	442	2	22	22	NUM
easat-3052	442	3	]	]	X
easat-3052	442	4	hansen	hansen	PROPN
easat-3052	442	5	,	,	PUNCT
easat-3052	442	6	l.p	l.p	PROPN
easat-3052	442	7	.	.	PROPN
easat-3052	442	8	(	(	PUNCT
easat-3052	442	9	1982	1982	NUM
easat-3052	442	10	)	)	PUNCT
easat-3052	442	11	.	.	PUNCT
easat-3052	443	1	large	large	ADJ
easat-3052	443	2	sample	sample	NOUN
easat-3052	443	3	properties	property	NOUN
easat-3052	443	4	of	of	ADP
easat-3052	443	5	generalized	generalized	ADJ
easat-3052	443	6	method	method	NOUN
easat-3052	443	7	of	of	ADP
easat-3052	443	8	moments	moment	NOUN
easat-3052	443	9	estimators	estimator	NOUN
easat-3052	443	10	.	.	PUNCT
easat-3052	444	1	econometrica	econometrica	PROPN
easat-3052	444	2	:	:	PUNCT
easat-3052	444	3	journal	journal	NOUN
easat-3052	444	4	of	of	ADP
easat-3052	444	5	the	the	DET
easat-3052	444	6	econometric	econometric	ADJ
easat-3052	444	7	society	society	NOUN
easat-3052	444	8	1029–1054	1029–1054	NUM
easat-3052	444	9	.	.	PUNCT
easat-3052	445	1	[	[	X
easat-3052	445	2	23	23	NUM
easat-3052	445	3	]	]	X
easat-3052	445	4	hsiao	hsiao	PROPN
easat-3052	445	5	,	,	PUNCT
easat-3052	445	6	c.	c.	PROPN
easat-3052	445	7	(	(	PUNCT
easat-3052	445	8	2003	2003	NUM
easat-3052	445	9	)	)	PUNCT
easat-3052	445	10	.	.	PUNCT
easat-3052	446	1	analysis	analysis	NOUN
easat-3052	446	2	of	of	ADP
easat-3052	446	3	panel	panel	NOUN
easat-3052	446	4	data	datum	NOUN
easat-3052	446	5	(	(	PUNCT
easat-3052	446	6	2nd	2nd	ADJ
easat-3052	446	7	ed	ed	NOUN
easat-3052	446	8	)	)	PUNCT
easat-3052	446	9	.	.	PUNCT
easat-3052	447	1	cambridge	cambridge	PROPN
easat-3052	447	2	.	.	PROPN
easat-3052	448	1	cambridge	cambridge	PROPN
easat-3052	448	2	university	university	PROPN
easat-3052	448	3	press	press	NOUN
easat-3052	448	4	.	.	PUNCT
easat-3052	449	1	dynamic	dynamic	ADJ
easat-3052	449	2	panel	panel	NOUN
easat-3052	449	3	analysis	analysis	NOUN
easat-3052	449	4	.	.	PUNCT
easat-3052	450	1	research	research	NOUN
easat-3052	450	2	in	in	ADP
easat-3052	450	3	international	international	ADJ
easat-3052	450	4	business	business	NOUN
easat-3052	450	5	and	and	CCONJ
easat-3052	450	6	finance	finance	NOUN
easat-3052	450	7	27	27	NUM
easat-3052	450	8	(	(	PUNCT
easat-3052	450	9	1	1	NUM
easat-3052	450	10	)	)	PUNCT
easat-3052	450	11	,	,	PUNCT
easat-3052	450	12	28–51	28–51	NUM
easat-3052	450	13	.	.	PUNCT
easat-3052	451	1	[	[	X
easat-3052	451	2	24	24	NUM
easat-3052	451	3	]	]	PUNCT
easat-3052	451	4	instat	instat	PROPN
easat-3052	451	5	13/03/2024	13/03/2024	NUM
easat-3052	451	6	.	.	PROPN
easat-3052	451	7	statistika	statistika	PROPN
easat-3052	451	8	mbi	mbi	PROPN
easat-3052	451	9	ndërmarrjet	ndërmarrjet	PROPN
easat-3052	451	10	e	e	PROPN
easat-3052	451	11	vogla	vogla	PROPN
easat-3052	451	12	dhe	dhe	PROPN
easat-3052	451	13	të	të	PROPN
easat-3052	451	14	mesme	mesme	PROPN
easat-3052	451	15	,	,	PUNCT
easat-3052	451	16	2022	2022	NUM
easat-3052	451	17	.	.	PUNCT
easat-3052	452	1	tirane	tirane	NOUN
easat-3052	452	2	.	.	PUNCT
easat-3052	453	1	[	[	X
easat-3052	453	2	25	25	NUM
easat-3052	453	3	]	]	PUNCT
easat-3052	453	4	jensen	jensen	PROPN
easat-3052	453	5	,	,	PUNCT
easat-3052	453	6	m	m	PROPN
easat-3052	453	7	,	,	PUNCT
easat-3052	453	8	meckling	meckling	NOUN
easat-3052	453	9	,	,	PUNCT
easat-3052	453	10	ë	ë	PROPN
easat-3052	453	11	.	.	PROPN
easat-3052	453	12	,	,	PUNCT
easat-3052	453	13	(	(	PUNCT
easat-3052	453	14	1976	1976	NUM
easat-3052	453	15	):	):	PUNCT
easat-3052	453	16	theory	theory	NOUN
easat-3052	453	17	of	of	ADP
easat-3052	453	18	the	the	DET
easat-3052	453	19	firm	firm	NOUN
easat-3052	453	20	:	:	PUNCT
easat-3052	453	21	managerial	managerial	ADJ
easat-3052	453	22	behavior	behavior	NOUN
easat-3052	453	23	,	,	PUNCT
easat-3052	453	24	agency	agency	NOUN
easat-3052	453	25	costs	cost	NOUN
easat-3052	453	26	,	,	PUNCT
easat-3052	453	27	and	and	CCONJ
easat-3052	453	28	oënership	oënership	NOUN
easat-3052	453	29	structure	structure	NOUN
easat-3052	453	30	.	.	PUNCT
easat-3052	454	1	journal	journal	NOUN
easat-3052	454	2	of	of	ADP
easat-3052	454	3	financial	financial	ADJ
easat-3052	454	4	economics	economic	NOUN
easat-3052	454	5	,	,	PUNCT
easat-3052	454	6	1976	1976	NUM
easat-3052	454	7	,	,	PUNCT
easat-3052	454	8	vol	vol	NOUN
easat-3052	454	9	(	(	PUNCT
easat-3052	454	10	3	3	NUM
easat-3052	454	11	):	):	PUNCT
easat-3052	454	12	305	305	NUM
easat-3052	454	13	-	-	SYM
easat-3052	454	14	360	360	NUM
easat-3052	454	15	[	[	X
easat-3052	454	16	26	26	NUM
easat-3052	454	17	]	]	SYM
easat-3052	454	18	le	le	X
easat-3052	454	19	,	,	PUNCT
easat-3052	454	20	t.	t.	PROPN
easat-3052	455	1	p.	p.	PROPN
easat-3052	455	2	v.	v.	PROPN
easat-3052	455	3	,	,	PUNCT
easat-3052	455	4	&	&	CCONJ
easat-3052	455	5	phan	phan	PROPN
easat-3052	455	6	,	,	PUNCT
easat-3052	455	7	t.	t.	PROPN
easat-3052	455	8	b.	b.	PROPN
easat-3052	455	9	n.	n.	PROPN
easat-3052	455	10	(	(	PUNCT
easat-3052	455	11	2017	2017	NUM
easat-3052	455	12	)	)	PUNCT
easat-3052	455	13	.	.	PUNCT
easat-3052	456	1	capital	capital	NOUN
easat-3052	456	2	structure	structure	NOUN
easat-3052	456	3	and	and	CCONJ
easat-3052	456	4	firm	firm	ADJ
easat-3052	456	5	performance	performance	NOUN
easat-3052	456	6	:	:	PUNCT
easat-3052	456	7	empirical	empirical	ADJ
easat-3052	456	8	evidence	evidence	NOUN
easat-3052	456	9	from	from	ADP
easat-3052	456	10	a	a	DET
easat-3052	456	11	small	small	ADJ
easat-3052	456	12	transition	transition	NOUN
easat-3052	456	13	country	country	NOUN
easat-3052	456	14	.	.	PUNCT
easat-3052	457	1	research	research	NOUN
easat-3052	457	2	in	in	ADP
easat-3052	457	3	international	international	ADJ
easat-3052	457	4	business	business	NOUN
easat-3052	457	5	and	and	CCONJ
easat-3052	457	6	finance	finance	NOUN
easat-3052	457	7	,	,	PUNCT
easat-3052	457	8	42	42	NUM
easat-3052	457	9	,	,	PUNCT
easat-3052	457	10	710	710	NUM
easat-3052	457	11	-	-	SYM
easat-3052	457	12	726	726	NUM
easat-3052	457	13	[	[	SYM
easat-3052	457	14	27	27	NUM
easat-3052	457	15	]	]	X
easat-3052	457	16	long	long	ADV
easat-3052	457	17	,	,	PUNCT
easat-3052	457	18	j.	j.	PROPN
easat-3052	457	19	s.	s.	PROPN
easat-3052	457	20	(	(	PUNCT
easat-3052	457	21	1997	1997	NUM
easat-3052	457	22	)	)	PUNCT
easat-3052	457	23	,	,	PUNCT
easat-3052	457	24	regression	regression	NOUN
easat-3052	457	25	models	model	NOUN
easat-3052	457	26	for	for	ADP
easat-3052	457	27	categorical	categorical	ADJ
easat-3052	457	28	and	and	CCONJ
easat-3052	457	29	limited	limited	ADJ
easat-3052	457	30	dependent	dependent	ADJ
easat-3052	457	31	variables	variable	NOUN
easat-3052	457	32	,	,	PUNCT
easat-3052	457	33	thousand	thousand	NUM
easat-3052	457	34	oaks	oak	NOUN
easat-3052	457	35	,	,	PUNCT
easat-3052	457	36	sage	sage	NOUN
easat-3052	457	37	publications	publication	NOUN
easat-3052	457	38	.	.	PUNCT
easat-3052	458	1	[	[	X
easat-3052	458	2	28	28	NUM
easat-3052	458	3	]	]	X
easat-3052	458	4	lopez	lopez	NOUN
easat-3052	458	5	-	-	PUNCT
easat-3052	458	6	gracia	gracia	PROPN
easat-3052	458	7	,	,	PUNCT
easat-3052	458	8	j.	j.	PROPN
easat-3052	458	9	,	,	PUNCT
easat-3052	458	10	&	&	CCONJ
easat-3052	458	11	sogorb	sogorb	NOUN
easat-3052	458	12	-	-	PUNCT
easat-3052	458	13	mira	mira	PROPN
easat-3052	458	14	,	,	PUNCT
easat-3052	458	15	f.	f.	PROPN
easat-3052	458	16	(	(	PUNCT
easat-3052	458	17	2008	2008	NUM
easat-3052	458	18	)	)	PUNCT
easat-3052	458	19	.	.	PUNCT
easat-3052	459	1	testing	test	VERB
easat-3052	459	2	trade	trade	NOUN
easat-3052	459	3	-	-	PUNCT
easat-3052	459	4	off	off	NOUN
easat-3052	459	5	and	and	CCONJ
easat-3052	459	6	pecking	pecking	NOUN
easat-3052	459	7	order	order	NOUN
easat-3052	459	8	theories	theorie	VERB
easat-3052	459	9	financing	finance	VERB
easat-3052	459	10	smes	sme	NOUN
easat-3052	459	11	.	.	PUNCT
easat-3052	460	1	small	small	ADJ
easat-3052	460	2	business	business	NOUN
easat-3052	460	3	economics	economic	NOUN
easat-3052	460	4	,	,	PUNCT
easat-3052	460	5	31(2	31(2	NUM
easat-3052	460	6	)	)	PUNCT
easat-3052	460	7	,	,	PUNCT
easat-3052	460	8	117	117	NUM
easat-3052	460	9	-	-	SYM
easat-3052	460	10	136	136	NUM
easat-3052	461	1	[	[	X
easat-3052	461	2	29	29	NUM
easat-3052	461	3	]	]	X
easat-3052	461	4	malinić	malinić	NOUN
easat-3052	461	5	,	,	PUNCT
easat-3052	461	6	d.	d.	PROPN
easat-3052	461	7	,	,	PUNCT
easat-3052	461	8	denčić	denčić	NOUN
easat-3052	461	9	-	-	PUNCT
easat-3052	461	10	mihajlov	mihajlov	PROPN
easat-3052	461	11	,	,	PUNCT
easat-3052	461	12	k.	k.	PROPN
easat-3052	461	13	,	,	PUNCT
easat-3052	461	14	ljubenović	ljubenović	PROPN
easat-3052	461	15	,	,	PUNCT
easat-3052	461	16	e.	e.	PROPN
easat-3052	461	17	,	,	PUNCT
easat-3052	461	18	(	(	PUNCT
easat-3052	461	19	2014	2014	NUM
easat-3052	461	20	):	):	PUNCT
easat-3052	461	21	the	the	DET
easat-3052	461	22	determinants	determinant	NOUN
easat-3052	461	23	of	of	ADP
easat-3052	461	24	capital	capital	NOUN
easat-3052	461	25	structure	structure	NOUN
easat-3052	461	26	in	in	ADP
easat-3052	461	27	emerging	emerge	VERB
easat-3052	461	28	capital	capital	NOUN
easat-3052	461	29	markets	market	NOUN
easat-3052	461	30	:	:	PUNCT
easat-3052	461	31	evidence	evidence	NOUN
easat-3052	461	32	from	from	ADP
easat-3052	461	33	serbia	serbia	PROPN
easat-3052	461	34	.	.	PUNCT
easat-3052	462	1	european	european	PROPN
easat-3052	462	2	research	research	PROPN
easat-3052	462	3	studies	study	NOUN
easat-3052	462	4	,	,	PUNCT
easat-3052	462	5	2013	2013	NUM
easat-3052	462	6	,	,	PUNCT
easat-3052	462	7	vol	vol	NOUN
easat-3052	462	8	(	(	PUNCT
easat-3052	462	9	xvi	xvi	NOUN
easat-3052	462	10	(	(	PUNCT
easat-3052	462	11	2	2	NUM
easat-3052	462	12	)	)	PUNCT
easat-3052	462	13	):	):	PUNCT
easat-3052	462	14	98	98	NUM
easat-3052	462	15	-	-	SYM
easat-3052	462	16	119	119	NUM
easat-3052	462	17	[	[	X
easat-3052	462	18	30	30	NUM
easat-3052	462	19	]	]	X
easat-3052	462	20	mc	mc	PROPN
easat-3052	462	21	namara	namara	PROPN
easat-3052	462	22	,	,	PUNCT
easat-3052	462	23	a.	a.	NOUN
easat-3052	462	24	,	,	PUNCT
easat-3052	462	25	murro	murro	NOUN
easat-3052	462	26	,	,	PUNCT
easat-3052	462	27	p.	p.	PROPN
easat-3052	462	28	,	,	PUNCT
easat-3052	462	29	&	&	CCONJ
easat-3052	462	30	o’donohoe	o’donohoe	PROPN
easat-3052	462	31	,	,	PUNCT
easat-3052	462	32	s.	s.	PROPN
easat-3052	462	33	(	(	PUNCT
easat-3052	462	34	2017	2017	NUM
easat-3052	462	35	)	)	PUNCT
easat-3052	462	36	.	.	PUNCT
easat-3052	463	1	countries	country	NOUN
easat-3052	463	2	lending	lend	VERB
easat-3052	463	3	infrastructure	infrastructure	NOUN
easat-3052	463	4	and	and	CCONJ
easat-3052	463	5	capital	capital	NOUN
easat-3052	463	6	structure	structure	NOUN
easat-3052	463	7	determination	determination	NOUN
easat-3052	463	8	:	:	PUNCT
easat-3052	463	9	the	the	DET
easat-3052	463	10	case	case	NOUN
easat-3052	463	11	of	of	ADP
easat-3052	463	12	european	european	ADJ
easat-3052	463	13	smes	smes	PROPN
easat-3052	463	14	.	.	PUNCT
easat-3052	464	1	journal	journal	PROPN
easat-3052	464	2	of	of	ADP
easat-3052	464	3	corporate	corporate	ADJ
easat-3052	464	4	finance	finance	NOUN
easat-3052	464	5	,	,	PUNCT
easat-3052	464	6	43	43	NUM
easat-3052	464	7	,	,	PUNCT
easat-3052	464	8	122	122	NUM
easat-3052	464	9	-	-	SYM
easat-3052	464	10	138	138	NUM
easat-3052	464	11	.	.	PUNCT
easat-3052	465	1	[	[	X
easat-3052	465	2	31	31	NUM
easat-3052	465	3	]	]	X
easat-3052	465	4	miller	miller	PROPN
easat-3052	465	5	,	,	PUNCT
easat-3052	465	6	m.	m.	NOUN
easat-3052	465	7	,	,	PUNCT
easat-3052	465	8	(	(	PUNCT
easat-3052	465	9	1977	1977	NUM
easat-3052	465	10	):	):	PUNCT
easat-3052	465	11	debt	debt	NOUN
easat-3052	465	12	and	and	CCONJ
easat-3052	465	13	taxes	taxis	NOUN
easat-3052	465	14	.	.	PUNCT
easat-3052	466	1	journal	journal	NOUN
easat-3052	466	2	of	of	ADP
easat-3052	466	3	finance	finance	NOUN
easat-3052	466	4	,	,	PUNCT
easat-3052	466	5	1977	1977	NUM
easat-3052	466	6	,	,	PUNCT
easat-3052	466	7	vol	vol	NOUN
easat-3052	466	8	(	(	PUNCT
easat-3052	466	9	32	32	NUM
easat-3052	466	10	):	):	PUNCT
easat-3052	466	11	261	261	NUM
easat-3052	466	12	-	-	SYM
easat-3052	466	13	275	275	NUM
easat-3052	466	14	.	.	PUNCT
easat-3052	467	1	[	[	X
easat-3052	467	2	32	32	NUM
easat-3052	467	3	]	]	X
easat-3052	467	4	miller	miller	PROPN
easat-3052	467	5	,	,	PUNCT
easat-3052	467	6	m.	m.	NOUN
easat-3052	467	7	,	,	PUNCT
easat-3052	467	8	(	(	PUNCT
easat-3052	467	9	1988	1988	NUM
easat-3052	467	10	):	):	PUNCT
easat-3052	467	11	the	the	DET
easat-3052	467	12	modigliani	modigliani	PROPN
easat-3052	467	13	-	-	PUNCT
easat-3052	467	14	miller	miller	NOUN
easat-3052	467	15	propositions	proposition	NOUN
easat-3052	467	16	after	after	ADP
easat-3052	467	17	thirty	thirty	NUM
easat-3052	467	18	years	year	NOUN
easat-3052	467	19	.	.	PUNCT
easat-3052	468	1	the	the	DET
easat-3052	468	2	journal	journal	NOUN
easat-3052	468	3	of	of	ADP
easat-3052	468	4	economic	economic	ADJ
easat-3052	468	5	perspectives,1988	perspectives,1988	NOUN
easat-3052	468	6	,	,	PUNCT
easat-3052	468	7	vol	vol	NOUN
easat-3052	468	8	(	(	PUNCT
easat-3052	468	9	2(4	2(4	NUM
easat-3052	468	10	)	)	PUNCT
easat-3052	468	11	):	):	PUNCT
easat-3052	468	12	99	99	NUM
easat-3052	468	13	-	-	SYM
easat-3052	468	14	120	120	NUM
easat-3052	468	15	.	.	PUNCT
easat-3052	469	1	[	[	X
easat-3052	469	2	33	33	NUM
easat-3052	469	3	]	]	PUNCT
easat-3052	469	4	modigliani	modigliani	PROPN
easat-3052	469	5	,	,	PUNCT
easat-3052	469	6	f.	f.	PROPN
easat-3052	469	7	,	,	PUNCT
easat-3052	469	8	miller	miller	PROPN
easat-3052	469	9	,	,	PUNCT
easat-3052	469	10	m.	m.	NOUN
easat-3052	469	11	,	,	PUNCT
easat-3052	469	12	(	(	PUNCT
easat-3052	469	13	1958	1958	NUM
easat-3052	469	14	):	):	PUNCT
easat-3052	469	15	the	the	DET
easat-3052	469	16	cost	cost	NOUN
easat-3052	469	17	of	of	ADP
easat-3052	469	18	capital	capital	NOUN
easat-3052	469	19	,	,	PUNCT
easat-3052	469	20	corporate	corporate	ADJ
easat-3052	469	21	finance	finance	NOUN
easat-3052	469	22	and	and	CCONJ
easat-3052	469	23	the	the	DET
easat-3052	469	24	theory	theory	NOUN
easat-3052	469	25	of	of	ADP
easat-3052	469	26	investment	investment	NOUN
easat-3052	469	27	.	.	PUNCT
easat-3052	470	1	american	american	ADJ
easat-3052	470	2	economic	economic	ADJ
easat-3052	470	3	revieë	revieë	NOUN
easat-3052	470	4	,	,	PUNCT
easat-3052	470	5	1958	1958	NUM
easat-3052	470	6	,	,	PUNCT
easat-3052	470	7	vol	vol	NOUN
easat-3052	470	8	(	(	PUNCT
easat-3052	470	9	48	48	NUM
easat-3052	470	10	):	):	PUNCT
easat-3052	470	11	261	261	NUM
easat-3052	470	12	-	-	SYM
easat-3052	470	13	297	297	NUM
easat-3052	470	14	.	.	PUNCT
easat-3052	471	1	[	[	X
easat-3052	471	2	34	34	NUM
easat-3052	471	3	]	]	SYM
easat-3052	471	4	modigliani	modigliani	PROPN
easat-3052	471	5	,	,	PUNCT
easat-3052	471	6	f.	f.	PROPN
easat-3052	471	7	,	,	PUNCT
easat-3052	471	8	miller	miller	PROPN
easat-3052	471	9	,	,	PUNCT
easat-3052	471	10	m.	m.	NOUN
easat-3052	471	11	,	,	PUNCT
easat-3052	471	12	(	(	PUNCT
easat-3052	471	13	1963	1963	NUM
easat-3052	471	14	):	):	PUNCT
easat-3052	471	15	corporate	corporate	ADJ
easat-3052	471	16	income	income	NOUN
easat-3052	471	17	taxes	taxis	NOUN
easat-3052	471	18	and	and	CCONJ
easat-3052	471	19	the	the	DET
easat-3052	471	20	cost	cost	NOUN
easat-3052	471	21	of	of	ADP
easat-3052	471	22	capital	capital	NOUN
easat-3052	471	23	:	:	PUNCT
easat-3052	471	24	a	a	DET
easat-3052	471	25	correction	correction	NOUN
easat-3052	471	26	.	.	PUNCT
easat-3052	472	1	american	american	ADJ
easat-3052	472	2	economic	economic	ADJ
easat-3052	472	3	revieë	revieë	NOUN
easat-3052	472	4	,	,	PUNCT
easat-3052	472	5	1963	1963	NUM
easat-3052	472	6	,	,	PUNCT
easat-3052	472	7	vol	vol	NOUN
easat-3052	472	8	(	(	PUNCT
easat-3052	472	9	53	53	NUM
easat-3052	472	10	)	)	PUNCT
easat-3052	472	11	,	,	PUNCT
easat-3052	472	12	443	443	NUM
easat-3052	472	13	-	-	SYM
easat-3052	472	14	453	453	NUM
easat-3052	472	15	.	.	NUM
easat-3052	472	16	156	156	NUM
easat-3052	473	1	[	[	X
easat-3052	473	2	35	35	NUM
easat-3052	473	3	]	]	PUNCT
easat-3052	473	4	owolabi	owolabi	NOUN
easat-3052	473	5	,	,	PUNCT
easat-3052	473	6	s.	s.	PROPN
easat-3052	473	7	,	,	PUNCT
easat-3052	473	8	inyang	inyang	PROPN
easat-3052	473	9	,	,	PUNCT
easat-3052	473	10	u.	u.	PROPN
easat-3052	473	11	,	,	PUNCT
easat-3052	473	12	(	(	PUNCT
easat-3052	473	13	2012	2012	NUM
easat-3052	473	14	):	):	PUNCT
easat-3052	473	15	determinants	determinant	NOUN
easat-3052	473	16	of	of	ADP
easat-3052	473	17	capital	capital	NOUN
easat-3052	473	18	structure	structure	NOUN
easat-3052	473	19	in	in	ADP
easat-3052	473	20	nigerian	nigerian	ADJ
easat-3052	473	21	firms	firm	NOUN
easat-3052	473	22	:	:	PUNCT
easat-3052	473	23	a	a	DET
easat-3052	473	24	theoretical	theoretical	ADJ
easat-3052	473	25	review	review	NOUN
easat-3052	473	26	.	.	PUNCT
easat-3052	474	1	canadian	canadian	ADJ
easat-3052	474	2	journal	journal	PROPN
easat-3052	474	3	of	of	ADP
easat-3052	474	4	accounting	accounting	NOUN
easat-3052	474	5	and	and	CCONJ
easat-3052	474	6	finance	finance	NOUN
easat-3052	474	7	,	,	PUNCT
easat-3052	474	8	2012	2012	NUM
easat-3052	474	9	,	,	PUNCT
easat-3052	474	10	vol	vol	NOUN
easat-3052	474	11	(	(	PUNCT
easat-3052	474	12	1(1	1(1	NUM
easat-3052	474	13	)	)	PUNCT
easat-3052	474	14	):	):	PUNCT
easat-3052	474	15	7	7	NUM
easat-3052	474	16	-	-	SYM
easat-3052	474	17	15	15	NUM
easat-3052	474	18	.	.	PUNCT
easat-3052	475	1	[	[	X
easat-3052	475	2	36	36	NUM
easat-3052	475	3	]	]	PUNCT
easat-3052	475	4	palomba	palomba	NOUN
easat-3052	475	5	,	,	PUNCT
easat-3052	475	6	g.	g.	PROPN
easat-3052	475	7	,	,	PUNCT
easat-3052	475	8	gennaro	gennaro	PROPN
easat-3052	475	9	,	,	PUNCT
easat-3052	475	10	a.	a.	NOUN
easat-3052	475	11	,	,	PUNCT
easat-3052	475	12	(	(	PUNCT
easat-3052	475	13	2016	2016	NUM
easat-3052	475	14	):	):	PUNCT
easat-3052	475	15	finanza	finanza	PROPN
easat-3052	475	16	aziendale	aziendale	PROPN
easat-3052	475	17	.	.	PROPN
easat-3052	475	18	analisi	analisi	PROPN
easat-3052	475	19	,	,	PUNCT
easat-3052	475	20	valutazioni	valutazioni	PROPN
easat-3052	475	21	e	e	NOUN
easat-3052	475	22	decisioni	decisioni	PROPN
easat-3052	475	23	finanziarie	finanziarie	VERB
easat-3052	475	24	.	.	PUNCT
easat-3052	476	1	mc	mc	PROPN
easat-3052	476	2	graë	graë	PROPN
easat-3052	476	3	hill	hill	PROPN
easat-3052	476	4	education	education	NOUN
easat-3052	476	5	.	.	PUNCT
easat-3052	477	1	[	[	X
easat-3052	477	2	37	37	NUM
easat-3052	477	3	]	]	X
easat-3052	477	4	pandey	pandey	PROPN
easat-3052	477	5	,	,	PUNCT
easat-3052	477	6	i.	i.	PROPN
easat-3052	477	7	m.	m.	PROPN
easat-3052	477	8	(	(	PUNCT
easat-3052	477	9	2001	2001	NUM
easat-3052	477	10	)	)	PUNCT
easat-3052	477	11	,	,	PUNCT
easat-3052	477	12	‘	'	PUNCT
easat-3052	477	13	capital	capital	NOUN
easat-3052	477	14	structure	structure	NOUN
easat-3052	477	15	and	and	CCONJ
easat-3052	477	16	the	the	DET
easat-3052	477	17	firm	firm	ADJ
easat-3052	477	18	characteristics	characteristic	NOUN
easat-3052	477	19	:	:	PUNCT
easat-3052	477	20	evidence	evidence	NOUN
easat-3052	477	21	from	from	ADP
easat-3052	477	22	an	an	DET
easat-3052	477	23	emerging	emerge	VERB
easat-3052	477	24	market	market	NOUN
easat-3052	477	25	’	'	PUNCT
easat-3052	477	26	,	,	PUNCT
easat-3052	477	27	iima	iima	PROPN
easat-3052	477	28	working	working	NOUN
easat-3052	477	29	paper	paper	NOUN
easat-3052	477	30	,	,	PUNCT
easat-3052	477	31	no	no	DET
easat-3052	477	32	2001	2001	NUM
easat-3052	477	33	-	-	SYM
easat-3052	477	34	10	10	NUM
easat-3052	477	35	-	-	PUNCT
easat-3052	477	36	04	04	NUM
easat-3052	477	37	,	,	PUNCT
easat-3052	477	38	ssrn	ssrn	NOUN
easat-3052	477	39	.	.	PUNCT
easat-3052	478	1	[	[	X
easat-3052	478	2	38	38	NUM
easat-3052	478	3	]	]	PUNCT
easat-3052	478	4	rajan	rajan	PROPN
easat-3052	478	5	,	,	PUNCT
easat-3052	478	6	g.	g.	PROPN
easat-3052	478	7	,	,	PUNCT
easat-3052	478	8	zingales	zingales	PROPN
easat-3052	478	9	,	,	PUNCT
easat-3052	478	10	l.	l.	PROPN
easat-3052	478	11	,	,	PUNCT
easat-3052	478	12	(	(	PUNCT
easat-3052	478	13	1995	1995	NUM
easat-3052	478	14	):	):	PUNCT
easat-3052	478	15	what	what	PRON
easat-3052	478	16	do	do	AUX
easat-3052	478	17	we	we	PRON
easat-3052	478	18	know	know	VERB
easat-3052	478	19	about	about	ADP
easat-3052	478	20	capital	capital	NOUN
easat-3052	478	21	structure	structure	NOUN
easat-3052	478	22	?	?	PUNCT
easat-3052	479	1	some	some	DET
easat-3052	479	2	evidence	evidence	NOUN
easat-3052	479	3	from	from	ADP
easat-3052	479	4	international	international	ADJ
easat-3052	479	5	data	datum	NOUN
easat-3052	479	6	.	.	PUNCT
easat-3052	480	1	journal	journal	PROPN
easat-3052	480	2	of	of	ADP
easat-3052	480	3	finance	finance	NOUN
easat-3052	480	4	,	,	PUNCT
easat-3052	480	5	1995	1995	NUM
easat-3052	480	6	,	,	PUNCT
easat-3052	480	7	vol	vol	NOUN
easat-3052	480	8	(	(	PUNCT
easat-3052	480	9	50	50	NUM
easat-3052	480	10	):	):	PUNCT
easat-3052	480	11	14211460	14211460	NUM
easat-3052	480	12	.	.	PUNCT
easat-3052	481	1	[	[	X
easat-3052	481	2	39	39	NUM
easat-3052	481	3	]	]	PUNCT
easat-3052	481	4	ross	ross	PROPN
easat-3052	481	5	,	,	PUNCT
easat-3052	481	6	s.	s.	PROPN
easat-3052	481	7	a.	a.	PROPN
easat-3052	481	8	,	,	PUNCT
easat-3052	481	9	(	(	PUNCT
easat-3052	481	10	1977	1977	NUM
easat-3052	481	11	):	):	PUNCT
easat-3052	481	12	the	the	DET
easat-3052	481	13	determination	determination	NOUN
easat-3052	481	14	of	of	ADP
easat-3052	481	15	financial	financial	ADJ
easat-3052	481	16	structure	structure	NOUN
easat-3052	481	17	:	:	PUNCT
easat-3052	481	18	the	the	DET
easat-3052	481	19	incentivesignaling	incentivesignale	VERB
easat-3052	481	20	approach	approach	NOUN
easat-3052	481	21	.	.	PUNCT
easat-3052	482	1	bell	bell	PROPN
easat-3052	482	2	journal	journal	PROPN
easat-3052	482	3	of	of	ADP
easat-3052	482	4	economics,1977	economics,1977	PROPN
easat-3052	482	5	,	,	PUNCT
easat-3052	482	6	vol	vol	NOUN
easat-3052	482	7	(	(	PUNCT
easat-3052	482	8	8)	8)	NUM
easat-3052	482	9	,	,	PUNCT
easat-3052	482	10	[	[	X
easat-3052	482	11	40	40	NUM
easat-3052	482	12	]	]	PUNCT
easat-3052	482	13	sargan	sargan	PROPN
easat-3052	482	14	,	,	PUNCT
easat-3052	482	15	j.d	j.d	PROPN
easat-3052	482	16	.	.	PROPN
easat-3052	482	17	(	(	PUNCT
easat-3052	482	18	1958	1958	NUM
easat-3052	482	19	)	)	PUNCT
easat-3052	482	20	.	.	PUNCT
easat-3052	483	1	the	the	DET
easat-3052	483	2	estimation	estimation	NOUN
easat-3052	483	3	of	of	ADP
easat-3052	483	4	economic	economic	ADJ
easat-3052	483	5	relationships	relationship	NOUN
easat-3052	483	6	using	use	VERB
easat-3052	483	7	instrumental	instrumental	ADJ
easat-3052	483	8	variables	variable	NOUN
easat-3052	483	9	.	.	PUNCT
easat-3052	484	1	econometrica	econometrica	PROPN
easat-3052	484	2	:	:	PUNCT
easat-3052	484	3	journal	journal	NOUN
easat-3052	484	4	of	of	ADP
easat-3052	484	5	the	the	DET
easat-3052	484	6	econometric	econometric	ADJ
easat-3052	484	7	society	society	NOUN
easat-3052	484	8	393–415	393–415	NUM
easat-3052	484	9	.	.	PUNCT
easat-3052	485	1	[	[	X
easat-3052	485	2	41	41	NUM
easat-3052	485	3	]	]	X
easat-3052	485	4	sogorb	sogorb	NOUN
easat-3052	485	5	-	-	PUNCT
easat-3052	485	6	mira	mira	PROPN
easat-3052	485	7	,	,	PUNCT
easat-3052	485	8	f.	f.	PROPN
easat-3052	485	9	(	(	PUNCT
easat-3052	485	10	2005	2005	NUM
easat-3052	485	11	)	)	PUNCT
easat-3052	485	12	.	.	PUNCT
easat-3052	486	1	how	how	SCONJ
easat-3052	486	2	sme	sme	PROPN
easat-3052	486	3	uniquneness	uniquneness	PROPN
easat-3052	486	4	affects	affect	VERB
easat-3052	486	5	capital	capital	NOUN
easat-3052	486	6	structure	structure	NOUN
easat-3052	486	7	:	:	PUNCT
easat-3052	486	8	evidence	evidence	NOUN
easat-3052	486	9	from	from	ADP
easat-3052	486	10	a	a	DET
easat-3052	486	11	1994–1998	1994–1998	NUM
easat-3052	486	12	spanish	spanish	ADJ
easat-3052	486	13	data	datum	NOUN
easat-3052	486	14	panel	panel	NOUN
easat-3052	486	15	.	.	PUNCT
easat-3052	487	1	small	small	ADJ
easat-3052	487	2	business	business	NOUN
easat-3052	487	3	economics	economic	NOUN
easat-3052	487	4	,	,	PUNCT
easat-3052	487	5	25(5	25(5	NUM
easat-3052	487	6	)	)	PUNCT
easat-3052	487	7	,	,	PUNCT
easat-3052	487	8	447–457	447–457	NUM
easat-3052	487	9	.	.	PUNCT
easat-3052	488	1	doi:10.1007/	doi:10.1007/	NOUN
easat-3052	488	2	s11187	s11187	NOUN
easat-3052	488	3	-	-	PUNCT
easat-3052	488	4	004	004	NUM
easat-3052	488	5	-	-	PUNCT
easat-3052	488	6	6486	6486	NUM
easat-3052	488	7	-	-	SYM
easat-3052	488	8	8	8	NUM
easat-3052	488	9	.	.	PUNCT
easat-3052	489	1	[	[	X
easat-3052	489	2	42	42	NUM
easat-3052	489	3	]	]	X
easat-3052	489	4	shyam	shyam	NOUN
easat-3052	489	5	-	-	PUNCT
easat-3052	489	6	sunder	sunder	PROPN
easat-3052	489	7	,	,	PUNCT
easat-3052	489	8	l.	l.	PROPN
easat-3052	489	9	,	,	PUNCT
easat-3052	489	10	myers	myers	PROPN
easat-3052	489	11	,	,	PUNCT
easat-3052	489	12	s.	s.	PROPN
easat-3052	489	13	c.	c.	PROPN
easat-3052	489	14	,	,	PUNCT
easat-3052	489	15	(	(	PUNCT
easat-3052	489	16	1999	1999	NUM
easat-3052	489	17	):	):	PUNCT
easat-3052	489	18	testing	test	VERB
easat-3052	489	19	static	static	ADJ
easat-3052	489	20	trade	trade	NOUN
easat-3052	489	21	-	-	PUNCT
easat-3052	489	22	off	off	NOUN
easat-3052	489	23	against	against	ADP
easat-3052	489	24	pecking	pecking	NOUN
easat-3052	489	25	order	order	NOUN
easat-3052	489	26	models	model	NOUN
easat-3052	489	27	of	of	ADP
easat-3052	489	28	capital	capital	NOUN
easat-3052	489	29	structure	structure	NOUN
easat-3052	489	30	.	.	PUNCT
easat-3052	490	1	journal	journal	NOUN
easat-3052	490	2	of	of	ADP
easat-3052	490	3	financial	financial	ADJ
easat-3052	490	4	economics	economic	NOUN
easat-3052	490	5	,	,	PUNCT
easat-3052	490	6	1999	1999	NUM
easat-3052	490	7	,	,	PUNCT
easat-3052	490	8	vol	vol	NOUN
easat-3052	490	9	(	(	PUNCT
easat-3052	490	10	51	51	NUM
easat-3052	490	11	):	):	PUNCT
easat-3052	490	12	219	219	NUM
easat-3052	490	13	-	-	SYM
easat-3052	490	14	244	244	NUM
easat-3052	490	15	.	.	PUNCT
easat-3052	491	1	[	[	X
easat-3052	491	2	43	43	NUM
easat-3052	491	3	]	]	X
easat-3052	491	4	titman	titman	NOUN
easat-3052	491	5	,	,	PUNCT
easat-3052	491	6	s.	s.	PROPN
easat-3052	491	7	,	,	PUNCT
easat-3052	491	8	wessels	wessels	PROPN
easat-3052	491	9	,	,	PUNCT
easat-3052	491	10	r.	r.	PROPN
easat-3052	491	11	,	,	PUNCT
easat-3052	491	12	(	(	PUNCT
easat-3052	491	13	1988	1988	NUM
easat-3052	491	14	):	):	PUNCT
easat-3052	491	15	the	the	DET
easat-3052	491	16	determinants	determinant	NOUN
easat-3052	491	17	of	of	ADP
easat-3052	491	18	capital	capital	NOUN
easat-3052	491	19	structure	structure	NOUN
easat-3052	491	20	choice	choice	NOUN
easat-3052	491	21	.	.	PUNCT
easat-3052	492	1	journal	journal	PROPN
easat-3052	492	2	of	of	ADP
easat-3052	492	3	finance	finance	NOUN
easat-3052	492	4	,	,	PUNCT
easat-3052	492	5	1988	1988	NUM
easat-3052	492	6	,	,	PUNCT
easat-3052	492	7	vol	vol	NOUN
easat-3052	492	8	(	(	PUNCT
easat-3052	492	9	43	43	NUM
easat-3052	492	10	):	):	PUNCT
easat-3052	492	11	119	119	NUM
easat-3052	492	12	.	.	PUNCT
easat-3052	493	1	[	[	X
easat-3052	493	2	44	44	NUM
easat-3052	493	3	]	]	PUNCT
easat-3052	493	4	wooldridge	wooldridge	PROPN
easat-3052	493	5	,	,	PUNCT
easat-3052	493	6	j.	j.	PROPN
easat-3052	493	7	m.	m.	PROPN
easat-3052	493	8	(	(	PUNCT
easat-3052	493	9	2019	2019	NUM
easat-3052	493	10	)	)	PUNCT
easat-3052	493	11	.	.	PUNCT
easat-3052	494	1	introductory	introductory	ADJ
easat-3052	494	2	econometrics	econometrics	PROPN
easat-3052	494	3	:	:	PUNCT
easat-3052	494	4	a	a	DET
easat-3052	494	5	modern	modern	ADJ
easat-3052	494	6	approach	approach	NOUN
easat-3052	494	7	.	.	PUNCT
easat-3052	495	1	cengage	cengage	PROPN
easat-3052	495	2	learnin	learnin	PROPN
easat-3052	495	3	https://doi.org/10.19030/jber.v2i8.2912	https://doi.org/10.19030/jber.v2i8.2912	PROPN
easat-3052	495	4	4902	4902	NUM
easat-3052	495	5	edelweiss	edelweiss	PROPN
easat-3052	495	6	applied	apply	VERB
easat-3052	495	7	science	science	NOUN
easat-3052	495	8	and	and	CCONJ
easat-3052	495	9	technology	technology	NOUN
easat-3052	495	10	issn	issn	PROPN
easat-3052	495	11	:	:	PUNCT
easat-3052	495	12	2576	2576	NUM
easat-3052	495	13	-	-	SYM
easat-3052	495	14	8484	8484	NUM
easat-3052	495	15	vol	vol	NOUN
easat-3052	495	16	.	.	PROPN
easat-3052	495	17	8	8	NUM
easat-3052	495	18	,	,	PUNCT
easat-3052	495	19	no	no	INTJ
easat-3052	495	20	.	.	NOUN
easat-3052	496	1	6	6	NUM
easat-3052	496	2	:	:	SYM
easat-3052	496	3	4884	4884	NUM
easat-3052	496	4	-	-	SYM
easat-3052	496	5	4902	4902	NUM
easat-3052	496	6	,	,	PUNCT
easat-3052	496	7	2024	2024	NUM
easat-3052	496	8	doi	doi	NOUN
easat-3052	496	9	:	:	PUNCT
easat-3052	496	10	10.55214/25768484.v8i6.3052	10.55214/25768484.v8i6.3052	NUM
easat-3052	496	11	©	©	ADP
easat-3052	496	12	2024	2024	NUM
easat-3052	496	13	by	by	ADP
easat-3052	496	14	the	the	DET
easat-3052	496	15	author	author	NOUN
easat-3052	496	16	;	;	PUNCT
easat-3052	496	17	licensee	licensee	PROPN
easat-3052	496	18	learning	learn	VERB
easat-3052	496	19	gate	gate	NOUN
easat-3052	496	20	appendix	appendix	PROPN
easat-3052	496	21	table	table	NOUN
easat-3052	496	22	6	6	NUM
easat-3052	496	23	.	.	PUNCT
easat-3052	496	24	shows	show	VERB
easat-3052	496	25	the	the	DET
easat-3052	496	26	pearson	pearson	PROPN
easat-3052	496	27	correlation	correlation	NOUN
easat-3052	496	28	coefficients	coefficient	NOUN
easat-3052	496	29	for	for	ADP
easat-3052	496	30	total	total	ADJ
easat-3052	496	31	debt	debt	NOUN
easat-3052	496	32	(	(	PUNCT
easat-3052	496	33	bt	bt	NOUN
easat-3052	496	34	)	)	PUNCT
easat-3052	496	35	.	.	PUNCT
easat-3052	497	1	bt	bt	PROPN
easat-3052	497	2	ta	ta	PROPN
easat-3052	497	3	roe	roe	PROPN
easat-3052	497	4	roa	roa	PROPN
easat-3052	497	5	ptjb	ptjb	PROPN
easat-3052	497	6	mrr	mrr	PROPN
easat-3052	497	7	mof	mof	X
easat-3052	497	8	mf	mf	X
easat-3052	497	9	lf	lf	ADP
easat-3052	497	10	ff	ff	NOUN
easat-3052	497	11	bt	bt	PROPN
easat-3052	497	12	1	1	NUM
easat-3052	497	13	ta	ta	ADP
easat-3052	497	14	0.2058	0.2058	NUM
easat-3052	497	15	1	1	NUM
easat-3052	497	16	0.0001	0.0001	NUM
easat-3052	497	17	----	----	PUNCT
easat-3052	497	18	roe	roe	PROPN
easat-3052	497	19	0.0404	0.0404	NUM
easat-3052	497	20	-0.35	-0.35	NUM
easat-3052	497	21	1	1	NUM
easat-3052	497	22	0.435	0.435	NUM
easat-3052	497	23	0.0000	0.0000	NUM
easat-3052	497	24	----	----	PUNCT
easat-3052	497	25	roa	roa	INTJ
easat-3052	497	26	-0.315	-0.315	PROPN
easat-3052	497	27	-0.317	-0.317	PROPN
easat-3052	497	28	0.8002	0.8002	NUM
easat-3052	497	29	1	1	NUM
easat-3052	497	30	0.0000	0.0000	NUM
easat-3052	497	31	0.0000	0.0000	NUM
easat-3052	497	32	0.0000	0.0000	NUM
easat-3052	497	33	----	----	PUNCT
easat-3052	497	34	ptjb	ptjb	NOUN
easat-3052	497	35	-0.13	-0.13	NUM
easat-3052	497	36	0.1071	0.1071	NUM
easat-3052	497	37	0.1383	0.1383	NUM
easat-3052	497	38	0.2126	0.2126	NUM
easat-3052	497	39	1	1	NUM
easat-3052	497	40	0.0117	0.0117	NUM
easat-3052	497	41	0.0382	0.0382	NUM
easat-3052	497	42	0.0073	0.0073	NUM
easat-3052	497	43	0.0000	0.0000	NUM
easat-3052	497	44	----	----	PUNCT
easat-3052	497	45	mrr	mrr	VERB
easat-3052	497	46	0.1164	0.1164	NUM
easat-3052	497	47	-0.088	-0.088	ADP
easat-3052	497	48	0.1663	0.1663	NUM
easat-3052	497	49	0.0395	0.0395	NUM
easat-3052	497	50	-0.029	-0.029	PROPN
easat-3052	497	51	1	1	NUM
easat-3052	497	52	0.0242	0.0242	NUM
easat-3052	497	53	0.0874	0.0874	NUM
easat-3052	497	54	0.0012	0.0012	NUM
easat-3052	497	55	0.4455	0.4455	NUM
easat-3052	497	56	0.5702	0.5702	NUM
easat-3052	497	57	----	----	PUNCT
easat-3052	497	58	mof	mof	INTJ
easat-3052	497	59	-0.144	-0.144	PUNCT
easat-3052	497	60	0.053	0.053	NUM
easat-3052	497	61	-0.188	-0.188	NUM
easat-3052	497	62	-0.088	-0.088	PUNCT
easat-3052	497	63	-0.123	-0.123	PUNCT
easat-3052	497	64	-0.288	-0.288	PUNCT
easat-3052	497	65	1	1	NUM
easat-3052	497	66	0.0052	0.0052	NUM
easat-3052	497	67	0.3057	0.3057	NUM
easat-3052	497	68	0.0003	0.0003	NUM
easat-3052	497	69	0.0878	0.0878	NUM
easat-3052	497	70	0.0168	0.0168	NUM
easat-3052	497	71	0.0000	0.0000	NUM
easat-3052	497	72	----	----	PUNCT
easat-3052	497	73	mf	mf	VERB
easat-3052	497	74	-0.024	-0.024	PUNCT
easat-3052	497	75	0.2537	0.2537	NUM
easat-3052	497	76	-0.095	-0.095	NUM
easat-3052	497	77	-0.093	-0.093	NOUN
easat-3052	497	78	-0.086	-0.086	NUM
easat-3052	497	79	-0.069	-0.069	PUNCT
easat-3052	497	80	0.3842	0.3842	NUM
easat-3052	497	81	1	1	NUM
easat-3052	497	82	0.6468	0.6468	NUM
easat-3052	497	83	0.000	0.000	NUM
easat-3052	497	84	0.066	0.066	NUM
easat-3052	497	85	0.0724	0.0724	NUM
easat-3052	497	86	0.0968	0.0968	NUM
easat-3052	497	87	0.1843	0.1843	NUM
easat-3052	497	88	0.0000	0.0000	NUM
easat-3052	497	89	----	----	PUNCT
easat-3052	498	1	lf	lf	ADP
easat-3052	498	2	-0.303	-0.303	PUNCT
easat-3052	498	3	-0.146	-0.146	PROPN
easat-3052	498	4	0.0572	0.0572	NUM
easat-3052	498	5	0.1245	0.1245	NUM
easat-3052	498	6	-0.003	-0.003	NOUN
easat-3052	498	7	-0.027	-0.027	PUNCT
easat-3052	498	8	0.0868	0.0868	NUM
easat-3052	498	9	-0.023	-0.023	NOUN
easat-3052	498	10	1	1	NUM
easat-3052	498	11	0.0000	0.0000	NUM
easat-3052	498	12	0.0045	0.0045	NUM
easat-3052	498	13	0.2693	0.2693	NUM
easat-3052	498	14	0.0159	0.0159	NUM
easat-3052	498	15	0.9477	0.9477	NUM
easat-3052	498	16	0.6023	0.6023	NUM
easat-3052	498	17	0.0933	0.0933	NUM
easat-3052	498	18	0.6569	0.6569	NUM
easat-3052	498	19	----	----	PUNCT
easat-3052	499	1	ff	ff	NUM
easat-3052	499	2	-0.193	-0.193	NUM
easat-3052	500	1	0.0873	0.0873	NUM
easat-3052	500	2	0.0116	0.0116	NUM
easat-3052	500	3	0.0505	0.0505	NUM
easat-3052	500	4	0.0673	0.0673	NUM
easat-3052	500	5	-0.017	-0.017	X
easat-3052	500	6	-0.052	-0.052	NUM
easat-3052	500	7	0.098	0.098	NUM
easat-3052	500	8	0.4396	0.4396	NUM
easat-3052	500	9	1	1	NUM
easat-3052	500	10	0.0002	0.0002	NUM
easat-3052	500	11	0.0915	0.0915	NUM
easat-3052	500	12	0.8227	0.8227	NUM
easat-3052	500	13	0.3291	0.3291	NUM
easat-3052	500	14	0.1933	0.1933	NUM
easat-3052	500	15	0.7379	0.7379	NUM
easat-3052	500	16	0.3181	0.3181	NUM
easat-3052	500	17	0.0579	0.0579	NUM
easat-3052	500	18	0.0000	0.0000	NUM
easat-3052	500	19	---	---	PUNCT
easat-3052	500	20	note	note	VERB
easat-3052	500	21	:	:	PUNCT
easat-3052	500	22	in	in	ADP
easat-3052	500	23	the	the	DET
easat-3052	500	24	first	first	ADJ
easat-3052	500	25	box	box	NOUN
easat-3052	500	26	,	,	PUNCT
easat-3052	500	27	the	the	DET
easat-3052	500	28	coefficients	coefficient	NOUN
easat-3052	500	29	are	be	AUX
easat-3052	500	30	presented	present	VERB
easat-3052	500	31	,	,	PUNCT
easat-3052	500	32	while	while	SCONJ
easat-3052	500	33	in	in	ADP
easat-3052	500	34	the	the	DET
easat-3052	500	35	second	second	ADJ
easat-3052	500	36	box	box	NOUN
easat-3052	500	37	,	,	PUNCT
easat-3052	500	38	the	the	DET
easat-3052	500	39	corresponding	corresponding	ADJ
easat-3052	500	40	probabilities	probability	NOUN
easat-3052	500	41	are	be	AUX
easat-3052	500	42	shown	show	VERB
easat-3052	500	43	.	.	PUNCT
easat-3052	501	1	table	table	NOUN
easat-3052	501	2	10	10	NUM
easat-3052	501	3	.	.	PUNCT
easat-3052	502	1	summary	summary	NOUN
easat-3052	502	2	of	of	ADP
easat-3052	502	3	fixed	fix	VERB
easat-3052	502	4	effects	effect	NOUN
easat-3052	502	5	(	(	PUNCT
easat-3052	502	6	fem	fem	NOUN
easat-3052	502	7	)	)	PUNCT
easat-3052	502	8	regression	regression	NOUN
easat-3052	502	9	results	result	NOUN
easat-3052	502	10	.	.	PUNCT
easat-3052	503	1	variables	variable	NOUN
easat-3052	503	2	model	model	VERB
easat-3052	503	3	1	1	NUM
easat-3052	503	4	model	model	NOUN
easat-3052	503	5	2	2	NUM
easat-3052	503	6	model	model	NOUN
easat-3052	503	7	3	3	NUM
easat-3052	503	8	independent	independent	PROPN
easat-3052	503	9	bt	bt	PROPN
easat-3052	503	10	bagj	bagj	PROPN
easat-3052	503	11	bash	bash	NOUN
easat-3052	503	12	constant	constant	ADJ
easat-3052	503	13	0.296317	0.296317	NUM
easat-3052	503	14	-0.397280	-0.397280	NOUN
easat-3052	503	15	0.714324	0.714324	NUM
easat-3052	503	16	*	*	SYM
easat-3052	503	17	bt(-1	bt(-1	PROPN
easat-3052	503	18	)	)	PUNCT
easat-3052	503	19	,	,	PUNCT
easat-3052	503	20	bagj(-1	bagj(-1	PROPN
easat-3052	503	21	)	)	PUNCT
easat-3052	503	22	,	,	PUNCT
easat-3052	503	23	bash	bash	NOUN
easat-3052	503	24	(	(	PUNCT
easat-3052	503	25	-1	-1	PUNCT
easat-3052	503	26	)	)	PUNCT
easat-3052	503	27	0.414121	0.414121	NUM
easat-3052	503	28	*	*	PUNCT
easat-3052	503	29	*	*	PUNCT
easat-3052	503	30	*	*	PUNCT
easat-3052	503	31	0.237558	0.237558	PUNCT
easat-3052	503	32	*	*	PUNCT
easat-3052	503	33	*	*	PUNCT
easat-3052	503	34	*	*	PUNCT
easat-3052	503	35	0.310336	0.310336	NUM
easat-3052	503	36	*	*	PUNCT
easat-3052	503	37	*	*	PUNCT
easat-3052	503	38	*	*	PUNCT
easat-3052	503	39	ta	ta	ADP
easat-3052	503	40	-0.008422	-0.008422	ADV
easat-3052	503	41	0.019255	0.019255	NUM
easat-3052	503	42	-0.029649	-0.029649	NOUN
easat-3052	503	43	roe	roe	NOUN
easat-3052	503	44	0.101399	0.101399	NUM
easat-3052	503	45	*	*	PUNCT
easat-3052	503	46	*	*	PUNCT
easat-3052	503	47	0.049466	0.049466	NUM
easat-3052	503	48	0.073596	0.073596	NUM
easat-3052	503	49	roa	roa	NOUN
easat-3052	503	50	-0.677871	-0.677871	NOUN
easat-3052	503	51	*	*	PUNCT
easat-3052	503	52	*	*	PUNCT
easat-3052	503	53	*	*	PUNCT
easat-3052	503	54	-0.271799	-0.271799	PROPN
easat-3052	503	55	*	*	PUNCT
easat-3052	503	56	*	*	NOUN
easat-3052	503	57	-0.423469	-0.423469	X
easat-3052	503	58	*	*	PUNCT
easat-3052	503	59	*	*	PUNCT
easat-3052	503	60	*	*	PUNCT
easat-3052	503	61	ptjb	ptjb	VERB
easat-3052	503	62	0.059091	0.059091	NUM
easat-3052	503	63	0.049139	0.049139	NUM
easat-3052	503	64	0.014824	0.014824	NUM
easat-3052	503	65	mrr	mrr	NOUN
easat-3052	503	66	0.024822	0.024822	NUM
easat-3052	503	67	*	*	PUNCT
easat-3052	503	68	*	*	PUNCT
easat-3052	503	69	*	*	PUNCT
easat-3052	503	70	0.017055	0.017055	NUM
easat-3052	503	71	*	*	PUNCT
easat-3052	503	72	*	*	PUNCT
easat-3052	503	73	0.011493	0.011493	NUM
easat-3052	503	74	mof	mof	X
easat-3052	503	75	-0.060204	-0.060204	NOUN
easat-3052	503	76	-0.016862	-0.016862	PROPN
easat-3052	503	77	-0.055470	-0.055470	X
easat-3052	503	78	mf	mf	VERB
easat-3052	503	79	0.012019	0.012019	NUM
easat-3052	503	80	0.026383	0.026383	NUM
easat-3052	503	81	-0.010671	-0.010671	NOUN
easat-3052	503	82	lf	lf	ADP
easat-3052	503	83	-0.005979	-0.005979	PROPN
easat-3052	503	84	*	*	PUNCT
easat-3052	503	85	*	*	PROPN
easat-3052	504	1	0.001977	0.001977	NUM
easat-3052	504	2	-0.007612	-0.007612	NOUN
easat-3052	504	3	*	*	PUNCT
easat-3052	504	4	*	*	PUNCT
easat-3052	504	5	ff	ff	NUM
easat-3052	504	6	0.003469	0.003469	NUM
easat-3052	504	7	-0.002623	-0.002623	NOUN
easat-3052	505	1	0.006028	0.006028	NUM
easat-3052	505	2	r	r	X
easat-3052	505	3	-	-	PUNCT
easat-3052	505	4	square	square	ADJ
easat-3052	505	5	0.941597	0.941597	NUM
easat-3052	505	6	0.895882	0.895882	NUM
easat-3052	505	7	0.913180	0.913180	NUM
easat-3052	505	8	adjusted	adjusted	ADJ
easat-3052	505	9	r	r	NOUN
easat-3052	505	10	-	-	PUNCT
easat-3052	505	11	square	square	ADJ
easat-3052	505	12	0.918779	0.918779	NUM
easat-3052	505	13	0.855203	0.855203	NUM
easat-3052	506	1	0.879260	0.879260	NUM
easat-3052	506	2	f	f	X
easat-3052	506	3	(	(	PUNCT
easat-3052	506	4	10	10	NUM
easat-3052	506	5	,	,	PUNCT
easat-3052	506	6	300	300	NUM
easat-3052	506	7	)	)	PUNCT
easat-3052	506	8	41.26548	41.26548	NUM
easat-3052	506	9	22.02332	22.02332	NUM
easat-3052	506	10	26.92136	26.92136	NUM
easat-3052	506	11	p	p	NOUN
easat-3052	506	12	-	-	PUNCT
easat-3052	506	13	value	value	NOUN
easat-3052	506	14	(	(	PUNCT
easat-3052	506	15	f	f	X
easat-3052	506	16	)	)	PUNCT
easat-3052	506	17	0.000000	0.000000	NUM
easat-3052	506	18	0.000000	0.000000	NUM
easat-3052	506	19	0.000000	0.000000	NUM
easat-3052	506	20	note	note	NOUN
easat-3052	506	21	:	:	PUNCT
easat-3052	506	22	*	*	PUNCT
easat-3052	506	23	p<0.1	p<0.1	X
easat-3052	506	24	(	(	PUNCT
easat-3052	506	25	10	10	NUM
easat-3052	506	26	%	%	NOUN
easat-3052	506	27	significance	significance	NOUN
easat-3052	506	28	level	level	NOUN
easat-3052	506	29	)	)	PUNCT
easat-3052	506	30	,	,	PUNCT
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easat-3052	506	32	*	*	PUNCT
easat-3052	506	33	p<0.05	p<0.05	NOUN
easat-3052	506	34	(	(	PUNCT
easat-3052	506	35	5	5	NUM
easat-3052	506	36	%	%	NOUN
easat-3052	506	37	significance	significance	NOUN
easat-3052	506	38	level	level	NOUN
easat-3052	506	39	)	)	PUNCT
easat-3052	506	40	,	,	PUNCT
easat-3052	506	41	*	*	PUNCT
easat-3052	506	42	*	*	PUNCT
easat-3052	506	43	*	*	PUNCT
easat-3052	506	44	p<0.01	p<0.01	PRON
easat-3052	506	45	(	(	PUNCT
easat-3052	506	46	1	1	NUM
easat-3052	506	47	%	%	NOUN
easat-3052	506	48	significance	significance	NOUN
easat-3052	506	49	level	level	NOUN
easat-3052	506	50	)	)	PUNCT
easat-3052	506	51	.	.	PUNCT