id	sid	tid	token	lemma	pos
easat-6812	1	1	edelweiss	edelweiss	PROPN
easat-6812	1	2	applied	apply	VERB
easat-6812	1	3	science	science	NOUN
easat-6812	1	4	and	and	CCONJ
easat-6812	1	5	technology	technology	NOUN
easat-6812	1	6	issn	issn	PROPN
easat-6812	1	7	:	:	PUNCT
easat-6812	1	8	2576	2576	NUM
easat-6812	1	9	-	-	SYM
easat-6812	1	10	8484	8484	NUM
easat-6812	1	11	vol	vol	NOUN
easat-6812	1	12	.	.	PROPN
easat-6812	2	1	9	9	NUM
easat-6812	2	2	,	,	PUNCT
easat-6812	2	3	no	no	INTJ
easat-6812	2	4	.	.	NOUN
easat-6812	2	5	5	5	NUM
easat-6812	2	6	,	,	PUNCT
easat-6812	2	7	187	187	NUM
easat-6812	2	8	-	-	SYM
easat-6812	2	9	196	196	NUM
easat-6812	2	10	2025	2025	NUM
easat-6812	2	11	publisher	publisher	NOUN
easat-6812	2	12	:	:	PUNCT
easat-6812	2	13	learning	learn	VERB
easat-6812	2	14	gate	gate	NOUN
easat-6812	2	15	doi	doi	PROPN
easat-6812	2	16	:	:	PUNCT
easat-6812	2	17	10.55214/25768484.v9i5.6812	10.55214/25768484.v9i5.6812	NOUN
easat-6812	2	18	©	©	PROPN
easat-6812	2	19	2025	2025	NUM
easat-6812	2	20	by	by	ADP
easat-6812	2	21	the	the	DET
easat-6812	2	22	authors	author	NOUN
easat-6812	2	23	;	;	PUNCT
easat-6812	2	24	licensee	licensee	PROPN
easat-6812	2	25	learning	learning	NOUN
easat-6812	2	26	gate	gate	NOUN
easat-6812	3	1	©	©	PROPN
easat-6812	3	2	2025	2025	NUM
easat-6812	3	3	by	by	ADP
easat-6812	3	4	the	the	DET
easat-6812	3	5	authors	author	NOUN
easat-6812	3	6	;	;	PUNCT
easat-6812	3	7	licensee	licensee	PROPN
easat-6812	3	8	learning	learning	NOUN
easat-6812	3	9	gate	gate	NOUN
easat-6812	3	10	history	history	NOUN
easat-6812	3	11	:	:	PUNCT
easat-6812	3	12	received	receive	VERB
easat-6812	3	13	:	:	PUNCT
easat-6812	3	14	19	19	NUM
easat-6812	3	15	february	february	NOUN
easat-6812	3	16	2025	2025	NUM
easat-6812	3	17	;	;	PUNCT
easat-6812	3	18	revised	revise	VERB
easat-6812	3	19	:	:	PUNCT
easat-6812	3	20	20	20	NUM
easat-6812	3	21	april	april	PROPN
easat-6812	3	22	2025	2025	NUM
easat-6812	3	23	;	;	PUNCT
easat-6812	3	24	accepted	accept	VERB
easat-6812	3	25	:	:	PUNCT
easat-6812	3	26	23	23	NUM
easat-6812	3	27	april	april	PROPN
easat-6812	3	28	2025	2025	NUM
easat-6812	3	29	;	;	PUNCT
easat-6812	3	30	published	publish	VERB
easat-6812	3	31	:	:	PUNCT
easat-6812	3	32	3	3	NUM
easat-6812	3	33	may	may	PROPN
easat-6812	3	34	2025	2025	NUM
easat-6812	3	35	*	*	PUNCT
easat-6812	3	36	correspondence	correspondence	NOUN
easat-6812	3	37	:	:	PUNCT
easat-6812	4	1	trusmanto@binus.edu	trusmanto@binus.edu	ADP
easat-6812	4	2	the	the	DET
easat-6812	4	3	influence	influence	NOUN
easat-6812	4	4	of	of	ADP
easat-6812	4	5	financial	financial	ADJ
easat-6812	4	6	constraints	constraint	NOUN
easat-6812	4	7	and	and	CCONJ
easat-6812	4	8	firm	firm	ADJ
easat-6812	4	9	age	age	NOUN
easat-6812	4	10	on	on	ADP
easat-6812	4	11	firm	firm	ADJ
easat-6812	4	12	performance	performance	NOUN
easat-6812	4	13	:	:	PUNCT
easat-6812	4	14	the	the	DET
easat-6812	4	15	mediating	mediate	VERB
easat-6812	4	16	effect	effect	NOUN
easat-6812	4	17	of	of	ADP
easat-6812	4	18	digital	digital	ADJ
easat-6812	4	19	transformation	transformation	NOUN
easat-6812	4	20	cecilia	cecilia	PROPN
easat-6812	4	21	angelina1	angelina1	PROPN
easat-6812	4	22	,	,	PUNCT
easat-6812	4	23	ni	ni	PROPN
easat-6812	4	24	putu	putu	PROPN
easat-6812	4	25	andhini	andhini	PROPN
easat-6812	4	26	pranadia	pranadia	PROPN
easat-6812	4	27	putri2	putri2	PROPN
easat-6812	4	28	,	,	PUNCT
easat-6812	4	29	toto	toto	PROPN
easat-6812	4	30	rusmanto3	rusmanto3	PROPN
easat-6812	4	31	*	*	PROPN
easat-6812	4	32	1,2,3department	1,2,3department	NUM
easat-6812	4	33	of	of	ADP
easat-6812	4	34	accounting	accounting	NOUN
easat-6812	4	35	,	,	PUNCT
easat-6812	4	36	school	school	NOUN
easat-6812	4	37	of	of	ADP
easat-6812	4	38	accounting	accounting	NOUN
easat-6812	4	39	,	,	PUNCT
easat-6812	4	40	bina	bina	PROPN
easat-6812	4	41	nusantara	nusantara	PROPN
easat-6812	4	42	university	university	PROPN
easat-6812	4	43	,	,	PUNCT
easat-6812	4	44	jakarta	jakarta	PROPN
easat-6812	4	45	,	,	PUNCT
easat-6812	4	46	indonesia	indonesia	PROPN
easat-6812	4	47	;	;	PUNCT
easat-6812	4	48	cecilia.angelina@binus.ac.id	cecilia.angelina@binus.ac.id	PUNCT
easat-6812	4	49	(	(	PUNCT
easat-6812	4	50	c.a	c.a	PROPN
easat-6812	4	51	.	.	PROPN
easat-6812	4	52	)	)	PUNCT
easat-6812	4	53	ni.putri004@binus.ac.id	ni.putri004@binus.ac.id	VERB
easat-6812	5	1	(	(	PUNCT
easat-6812	5	2	n.p.a.p.p	n.p.a.p.p	NOUN
easat-6812	5	3	.	.	PUNCT
easat-6812	5	4	)	)	PUNCT
easat-6812	6	1	trusmanto@binus.edu	trusmanto@binus.edu	PROPN
easat-6812	6	2	(	(	PUNCT
easat-6812	6	3	t.r	t.r	PROPN
easat-6812	6	4	.	.	PROPN
easat-6812	6	5	)	)	PUNCT
easat-6812	7	1	abstract	abstract	NOUN
easat-6812	7	2	:	:	PUNCT
easat-6812	7	3	amid	amid	ADP
easat-6812	7	4	the	the	DET
easat-6812	7	5	increasing	increase	VERB
easat-6812	7	6	challenges	challenge	NOUN
easat-6812	7	7	of	of	ADP
easat-6812	7	8	digital	digital	ADJ
easat-6812	7	9	transformation	transformation	NOUN
easat-6812	7	10	,	,	PUNCT
easat-6812	7	11	indonesia	indonesia	PROPN
easat-6812	7	12	's	's	PART
easat-6812	7	13	non	non	ADJ
easat-6812	7	14	-	-	ADJ
easat-6812	7	15	cyclical	cyclical	ADJ
easat-6812	7	16	consumer	consumer	NOUN
easat-6812	7	17	sector	sector	NOUN
easat-6812	7	18	faces	face	VERB
easat-6812	7	19	difficulties	difficulty	NOUN
easat-6812	7	20	in	in	ADP
easat-6812	7	21	terms	term	NOUN
easat-6812	7	22	of	of	ADP
easat-6812	7	23	innovation	innovation	NOUN
easat-6812	7	24	and	and	CCONJ
easat-6812	7	25	competitiveness	competitiveness	NOUN
easat-6812	7	26	.	.	PUNCT
easat-6812	8	1	this	this	DET
easat-6812	8	2	sector	sector	NOUN
easat-6812	8	3	covers	cover	VERB
easat-6812	8	4	primary	primary	ADJ
easat-6812	8	5	consumer	consumer	NOUN
easat-6812	8	6	needs	need	NOUN
easat-6812	8	7	that	that	PRON
easat-6812	8	8	are	be	AUX
easat-6812	8	9	resilient	resilient	ADJ
easat-6812	8	10	to	to	ADP
easat-6812	8	11	economic	economic	ADJ
easat-6812	8	12	crises	crisis	NOUN
easat-6812	8	13	but	but	CCONJ
easat-6812	8	14	faces	face	VERB
easat-6812	8	15	high	high	ADJ
easat-6812	8	16	demands	demand	NOUN
easat-6812	8	17	for	for	ADP
easat-6812	8	18	innovation	innovation	NOUN
easat-6812	8	19	and	and	CCONJ
easat-6812	8	20	competition	competition	NOUN
easat-6812	8	21	.	.	PUNCT
easat-6812	9	1	this	this	DET
easat-6812	9	2	study	study	NOUN
easat-6812	9	3	explores	explore	VERB
easat-6812	9	4	the	the	DET
easat-6812	9	5	effect	effect	NOUN
easat-6812	9	6	of	of	ADP
easat-6812	9	7	financial	financial	ADJ
easat-6812	9	8	constraints	constraint	NOUN
easat-6812	9	9	and	and	CCONJ
easat-6812	9	10	firm	firm	ADJ
easat-6812	9	11	age	age	NOUN
easat-6812	9	12	on	on	ADP
easat-6812	9	13	firm	firm	ADJ
easat-6812	9	14	performance	performance	NOUN
easat-6812	9	15	,	,	PUNCT
easat-6812	9	16	with	with	ADP
easat-6812	9	17	digital	digital	ADJ
easat-6812	9	18	transformation	transformation	NOUN
easat-6812	9	19	as	as	ADP
easat-6812	9	20	a	a	DET
easat-6812	9	21	mediating	mediate	VERB
easat-6812	9	22	variable	variable	NOUN
easat-6812	9	23	.	.	PUNCT
easat-6812	10	1	based	base	VERB
easat-6812	10	2	on	on	ADP
easat-6812	10	3	empirical	empirical	ADJ
easat-6812	10	4	evidence	evidence	NOUN
easat-6812	10	5	from	from	ADP
easat-6812	10	6	210	210	NUM
easat-6812	10	7	companies	company	NOUN
easat-6812	10	8	from	from	ADP
easat-6812	10	9	2019	2019	NUM
easat-6812	10	10	-	-	SYM
easat-6812	10	11	2023	2023	NUM
easat-6812	10	12	analyzed	analyze	VERB
easat-6812	10	13	using	use	VERB
easat-6812	10	14	quantitative	quantitative	ADJ
easat-6812	10	15	methodology	methodology	NOUN
easat-6812	10	16	with	with	ADP
easat-6812	10	17	maxqda	maxqda	NOUN
easat-6812	10	18	and	and	CCONJ
easat-6812	10	19	stata	stata	NOUN
easat-6812	10	20	,	,	PUNCT
easat-6812	10	21	the	the	DET
easat-6812	10	22	results	result	NOUN
easat-6812	10	23	show	show	VERB
easat-6812	10	24	that	that	SCONJ
easat-6812	10	25	financial	financial	ADJ
easat-6812	10	26	constraints	constraint	NOUN
easat-6812	10	27	significantly	significantly	ADV
easat-6812	10	28	negatively	negatively	ADV
easat-6812	10	29	impact	impact	VERB
easat-6812	10	30	firm	firm	ADJ
easat-6812	10	31	performance	performance	NOUN
easat-6812	10	32	,	,	PUNCT
easat-6812	10	33	reflecting	reflect	VERB
easat-6812	10	34	the	the	DET
easat-6812	10	35	difficulty	difficulty	NOUN
easat-6812	10	36	of	of	ADP
easat-6812	10	37	obtaining	obtain	VERB
easat-6812	10	38	funding	funding	NOUN
easat-6812	10	39	for	for	ADP
easat-6812	10	40	strategic	strategic	ADJ
easat-6812	10	41	investments	investment	NOUN
easat-6812	10	42	,	,	PUNCT
easat-6812	10	43	including	include	VERB
easat-6812	10	44	digital	digital	ADJ
easat-6812	10	45	transformation	transformation	NOUN
easat-6812	10	46	.	.	PUNCT
easat-6812	11	1	although	although	SCONJ
easat-6812	11	2	expected	expect	VERB
easat-6812	11	3	to	to	PART
easat-6812	11	4	mediate	mediate	VERB
easat-6812	11	5	the	the	DET
easat-6812	11	6	relationship	relationship	NOUN
easat-6812	11	7	,	,	PUNCT
easat-6812	11	8	digital	digital	ADJ
easat-6812	11	9	transformation	transformation	NOUN
easat-6812	11	10	did	do	AUX
easat-6812	11	11	not	not	PART
easat-6812	11	12	show	show	VERB
easat-6812	11	13	a	a	DET
easat-6812	11	14	statistically	statistically	ADV
easat-6812	11	15	significant	significant	ADJ
easat-6812	11	16	effect	effect	NOUN
easat-6812	11	17	.	.	PUNCT
easat-6812	12	1	firm	firm	ADJ
easat-6812	12	2	age	age	NOUN
easat-6812	12	3	provides	provide	VERB
easat-6812	12	4	stability	stability	NOUN
easat-6812	12	5	through	through	ADP
easat-6812	12	6	experience	experience	NOUN
easat-6812	12	7	but	but	CCONJ
easat-6812	12	8	faces	face	VERB
easat-6812	12	9	challenges	challenge	NOUN
easat-6812	12	10	in	in	ADP
easat-6812	12	11	adapting	adapt	VERB
easat-6812	12	12	to	to	ADP
easat-6812	12	13	technological	technological	ADJ
easat-6812	12	14	changes	change	NOUN
easat-6812	12	15	and	and	CCONJ
easat-6812	12	16	dynamic	dynamic	ADJ
easat-6812	12	17	markets	market	NOUN
easat-6812	12	18	.	.	PUNCT
easat-6812	13	1	the	the	DET
easat-6812	13	2	practical	practical	ADJ
easat-6812	13	3	implication	implication	NOUN
easat-6812	13	4	is	be	AUX
easat-6812	13	5	that	that	SCONJ
easat-6812	13	6	companies	company	NOUN
easat-6812	13	7	must	must	AUX
easat-6812	13	8	allocate	allocate	VERB
easat-6812	13	9	funds	fund	NOUN
easat-6812	13	10	more	more	ADV
easat-6812	13	11	efficiently	efficiently	ADV
easat-6812	13	12	for	for	ADP
easat-6812	13	13	digitalization	digitalization	NOUN
easat-6812	13	14	.	.	PUNCT
easat-6812	14	1	investors	investor	NOUN
easat-6812	14	2	should	should	AUX
easat-6812	14	3	consider	consider	VERB
easat-6812	14	4	digitalization	digitalization	NOUN
easat-6812	14	5	readiness	readiness	NOUN
easat-6812	14	6	and	and	CCONJ
easat-6812	14	7	evaluate	evaluate	VERB
easat-6812	14	8	the	the	DET
easat-6812	14	9	firm	firm	NOUN
easat-6812	14	10	’s	’s	PART
easat-6812	14	11	financial	financial	ADJ
easat-6812	14	12	constraints	constraint	NOUN
easat-6812	14	13	before	before	ADP
easat-6812	14	14	investing	invest	VERB
easat-6812	14	15	because	because	SCONJ
easat-6812	14	16	limited	limited	ADJ
easat-6812	14	17	funds	fund	NOUN
easat-6812	14	18	can	can	AUX
easat-6812	14	19	hinder	hinder	VERB
easat-6812	14	20	innovation	innovation	NOUN
easat-6812	14	21	and	and	CCONJ
easat-6812	14	22	growth	growth	NOUN
easat-6812	14	23	.	.	PUNCT
easat-6812	15	1	the	the	DET
easat-6812	15	2	government	government	NOUN
easat-6812	15	3	also	also	ADV
easat-6812	15	4	needs	need	VERB
easat-6812	15	5	to	to	PART
easat-6812	15	6	encourage	encourage	VERB
easat-6812	15	7	access	access	NOUN
easat-6812	15	8	to	to	ADP
easat-6812	15	9	digital	digital	ADJ
easat-6812	15	10	funding	funding	NOUN
easat-6812	15	11	to	to	PART
easat-6812	15	12	accelerate	accelerate	VERB
easat-6812	15	13	the	the	DET
easat-6812	15	14	transformation	transformation	NOUN
easat-6812	15	15	of	of	ADP
easat-6812	15	16	this	this	DET
easat-6812	15	17	sector	sector	NOUN
easat-6812	15	18	.	.	PUNCT
easat-6812	16	1	keywords	keyword	NOUN
easat-6812	16	2	:	:	PUNCT
easat-6812	16	3	consumer	consumer	NOUN
easat-6812	16	4	non	non	ADJ
easat-6812	16	5	-	-	ADJ
easat-6812	16	6	cyclical	cyclical	ADJ
easat-6812	16	7	,	,	PUNCT
easat-6812	16	8	digital	digital	ADJ
easat-6812	16	9	transformation	transformation	NOUN
easat-6812	16	10	,	,	PUNCT
easat-6812	16	11	financial	financial	ADJ
easat-6812	16	12	constraints	constraint	NOUN
easat-6812	16	13	,	,	PUNCT
easat-6812	16	14	firm	firm	ADJ
easat-6812	16	15	age	age	NOUN
easat-6812	16	16	,	,	PUNCT
easat-6812	16	17	firm	firm	ADJ
easat-6812	16	18	performance	performance	NOUN
easat-6812	16	19	.	.	PUNCT
easat-6812	17	1	1	1	X
easat-6812	17	2	.	.	X
easat-6812	17	3	introduction	introduction	NOUN
easat-6812	17	4	the	the	DET
easat-6812	17	5	rapidly	rapidly	ADV
easat-6812	17	6	developing	develop	VERB
easat-6812	17	7	digital	digital	ADJ
easat-6812	17	8	era	era	NOUN
easat-6812	17	9	has	have	AUX
easat-6812	17	10	made	make	VERB
easat-6812	17	11	companies	company	NOUN
easat-6812	17	12	worldwide	worldwide	ADV
easat-6812	17	13	face	face	VERB
easat-6812	17	14	high	high	ADJ
easat-6812	17	15	-	-	PUNCT
easat-6812	17	16	cost	cost	NOUN
easat-6812	17	17	demands	demand	NOUN
easat-6812	17	18	to	to	PART
easat-6812	17	19	innovate	innovate	VERB
easat-6812	17	20	and	and	CCONJ
easat-6812	17	21	compete	compete	VERB
easat-6812	17	22	competitively	competitively	ADV
easat-6812	17	23	,	,	PUNCT
easat-6812	17	24	especially	especially	ADV
easat-6812	17	25	in	in	ADP
easat-6812	17	26	the	the	DET
easat-6812	17	27	manufacturing	manufacturing	NOUN
easat-6812	17	28	sector	sector	NOUN
easat-6812	17	29	,	,	PUNCT
easat-6812	17	30	including	include	VERB
easat-6812	17	31	the	the	DET
easat-6812	17	32	non	non	ADJ
easat-6812	17	33	-	-	ADJ
easat-6812	17	34	cyclical	cyclical	ADJ
easat-6812	17	35	consumer	consumer	NOUN
easat-6812	17	36	sector	sector	NOUN
easat-6812	17	37	.	.	PUNCT
easat-6812	18	1	this	this	DET
easat-6812	18	2	sector	sector	NOUN
easat-6812	18	3	provides	provide	VERB
easat-6812	18	4	basic	basic	ADJ
easat-6812	18	5	needs	need	NOUN
easat-6812	18	6	that	that	PRON
easat-6812	18	7	consumers	consumer	NOUN
easat-6812	18	8	will	will	AUX
easat-6812	18	9	purchase	purchase	VERB
easat-6812	18	10	despite	despite	SCONJ
easat-6812	18	11	unstable	unstable	ADJ
easat-6812	18	12	economic	economic	ADJ
easat-6812	18	13	conditions	condition	NOUN
easat-6812	18	14	.	.	PUNCT
easat-6812	19	1	non	non	ADJ
easat-6812	19	2	-	-	ADJ
easat-6812	19	3	cyclical	cyclical	ADJ
easat-6812	19	4	consumer	consumer	NOUN
easat-6812	19	5	companies	company	NOUN
easat-6812	19	6	are	be	AUX
easat-6812	19	7	companies	company	NOUN
easat-6812	19	8	that	that	PRON
easat-6812	19	9	produce	produce	VERB
easat-6812	19	10	primary	primary	ADJ
easat-6812	19	11	products	product	NOUN
easat-6812	19	12	and	and	CCONJ
easat-6812	19	13	services	service	NOUN
easat-6812	19	14	.	.	PUNCT
easat-6812	20	1	according	accord	VERB
easat-6812	20	2	to	to	ADP
easat-6812	20	3	utami	utami	NOUN
easat-6812	20	4	[	[	X
easat-6812	20	5	1	1	X
easat-6812	20	6	]	]	PUNCT
easat-6812	20	7	the	the	DET
easat-6812	20	8	non	non	ADJ
easat-6812	20	9	-	-	ADJ
easat-6812	20	10	cyclical	cyclical	ADJ
easat-6812	20	11	consumer	consumer	NOUN
easat-6812	20	12	sector	sector	NOUN
easat-6812	20	13	is	be	AUX
easat-6812	20	14	defensive	defensive	ADJ
easat-6812	20	15	and	and	CCONJ
easat-6812	20	16	can	can	AUX
easat-6812	20	17	survive	survive	VERB
easat-6812	20	18	economic	economic	ADJ
easat-6812	20	19	crises	crisis	NOUN
easat-6812	20	20	.	.	PUNCT
easat-6812	21	1	this	this	PRON
easat-6812	21	2	is	be	AUX
easat-6812	21	3	supported	support	VERB
easat-6812	21	4	by	by	ADP
easat-6812	21	5	the	the	DET
easat-6812	21	6	statement	statement	NOUN
easat-6812	21	7	of	of	ADP
easat-6812	21	8	surtiningsih	surtiningsih	NOUN
easat-6812	21	9	and	and	CCONJ
easat-6812	21	10	wijaksana	wijaksana	ADJ
easat-6812	21	11	[	[	X
easat-6812	21	12	2	2	X
easat-6812	21	13	]	]	PUNCT
easat-6812	21	14	that	that	SCONJ
easat-6812	21	15	non	non	ADJ
easat-6812	21	16	-	-	ADJ
easat-6812	21	17	cyclical	cyclical	ADJ
easat-6812	21	18	consumer	consumer	NOUN
easat-6812	21	19	companies	company	NOUN
easat-6812	21	20	have	have	AUX
easat-6812	21	21	good	good	ADJ
easat-6812	21	22	opportunities	opportunity	NOUN
easat-6812	21	23	in	in	ADP
easat-6812	21	24	the	the	DET
easat-6812	21	25	future	future	NOUN
easat-6812	21	26	because	because	SCONJ
easat-6812	21	27	they	they	PRON
easat-6812	21	28	are	be	AUX
easat-6812	21	29	not	not	PART
easat-6812	21	30	too	too	ADV
easat-6812	21	31	affected	affect	VERB
easat-6812	21	32	by	by	ADP
easat-6812	21	33	poor	poor	ADJ
easat-6812	21	34	economic	economic	ADJ
easat-6812	21	35	conditions	condition	NOUN
easat-6812	21	36	.	.	PUNCT
easat-6812	22	1	over	over	ADP
easat-6812	22	2	time	time	NOUN
easat-6812	22	3	,	,	PUNCT
easat-6812	22	4	the	the	DET
easat-6812	22	5	company	company	NOUN
easat-6812	22	6	's	's	PART
easat-6812	22	7	financial	financial	ADJ
easat-6812	22	8	condition	condition	NOUN
easat-6812	22	9	will	will	AUX
easat-6812	22	10	fluctuate	fluctuate	VERB
easat-6812	22	11	,	,	PUNCT
easat-6812	22	12	which	which	PRON
easat-6812	22	13	can	can	AUX
easat-6812	22	14	ultimately	ultimately	ADV
easat-6812	22	15	give	give	VERB
easat-6812	22	16	rise	rise	NOUN
easat-6812	22	17	to	to	ADP
easat-6812	22	18	financial	financial	ADJ
easat-6812	22	19	constraints	constraint	NOUN
easat-6812	22	20	.	.	PUNCT
easat-6812	23	1	financial	financial	ADJ
easat-6812	23	2	constraints	constraint	NOUN
easat-6812	23	3	occur	occur	VERB
easat-6812	23	4	when	when	SCONJ
easat-6812	23	5	a	a	DET
easat-6812	23	6	company	company	NOUN
easat-6812	23	7	experiences	experience	VERB
easat-6812	23	8	limitations	limitation	NOUN
easat-6812	23	9	in	in	ADP
easat-6812	23	10	accessing	access	VERB
easat-6812	23	11	funds	fund	NOUN
easat-6812	23	12	or	or	CCONJ
easat-6812	23	13	financing	financing	NOUN
easat-6812	23	14	to	to	PART
easat-6812	23	15	support	support	VERB
easat-6812	23	16	certain	certain	ADJ
easat-6812	23	17	investment	investment	NOUN
easat-6812	23	18	activities	activity	NOUN
easat-6812	23	19	.	.	PUNCT
easat-6812	24	1	cheng	cheng	PROPN
easat-6812	24	2	,	,	PUNCT
easat-6812	24	3	et	et	PROPN
easat-6812	24	4	al	al	PROPN
easat-6812	24	5	.	.	PUNCT
easat-6812	25	1	[	[	X
easat-6812	25	2	3	3	NUM
easat-6812	25	3	]	]	PUNCT
easat-6812	25	4	;	;	PUNCT
easat-6812	25	5	hennessy	hennessy	PROPN
easat-6812	25	6	and	and	CCONJ
easat-6812	25	7	whited	white	VERB
easat-6812	25	8	[	[	PUNCT
easat-6812	25	9	4	4	NUM
easat-6812	25	10	]	]	PUNCT
easat-6812	25	11	highlight	highlight	VERB
easat-6812	25	12	that	that	SCONJ
easat-6812	25	13	financial	financial	ADJ
easat-6812	25	14	constraints	constraint	NOUN
easat-6812	25	15	can	can	AUX
easat-6812	25	16	arise	arise	VERB
easat-6812	25	17	due	due	ADP
easat-6812	25	18	to	to	ADP
easat-6812	25	19	various	various	ADJ
easat-6812	25	20	factors	factor	NOUN
easat-6812	25	21	such	such	ADJ
easat-6812	25	22	as	as	ADP
easat-6812	25	23	credit	credit	NOUN
easat-6812	25	24	constraints	constraint	NOUN
easat-6812	25	25	,	,	PUNCT
easat-6812	25	26	corporate	corporate	ADJ
easat-6812	25	27	taxes	taxis	NOUN
easat-6812	25	28	,	,	PUNCT
easat-6812	25	29	inability	inability	NOUN
easat-6812	25	30	to	to	PART
easat-6812	25	31	borrow	borrow	VERB
easat-6812	25	32	,	,	PUNCT
easat-6812	25	33	difficulty	difficulty	NOUN
easat-6812	25	34	in	in	ADP
easat-6812	25	35	issuing	issue	VERB
easat-6812	25	36	equity	equity	NOUN
easat-6812	25	37	,	,	PUNCT
easat-6812	25	38	unavailability	unavailability	NOUN
easat-6812	25	39	of	of	ADP
easat-6812	25	40	bank	bank	NOUN
easat-6812	25	41	loans	loan	NOUN
easat-6812	25	42	,	,	PUNCT
easat-6812	25	43	or	or	CCONJ
easat-6812	25	44	low	low	ADJ
easat-6812	25	45	asset	asset	NOUN
easat-6812	25	46	liquidity	liquidity	NOUN
easat-6812	25	47	[	[	X
easat-6812	25	48	5	5	NUM
easat-6812	25	49	]	]	PUNCT
easat-6812	25	50	.	.	PUNCT
easat-6812	26	1	the	the	DET
easat-6812	26	2	urgent	urgent	ADJ
easat-6812	26	3	need	need	NOUN
easat-6812	26	4	or	or	CCONJ
easat-6812	26	5	demand	demand	VERB
easat-6812	26	6	to	to	PART
easat-6812	26	7	innovate	innovate	VERB
easat-6812	26	8	toward	toward	ADP
easat-6812	26	9	increasingly	increasingly	ADV
easat-6812	26	10	sophisticated	sophisticated	ADJ
easat-6812	26	11	digitalization	digitalization	NOUN
easat-6812	26	12	often	often	ADV
easat-6812	26	13	triggers	trigger	VERB
easat-6812	26	14	the	the	DET
easat-6812	26	15	emergence	emergence	NOUN
easat-6812	26	16	of	of	ADP
easat-6812	26	17	financial	financial	ADJ
easat-6812	26	18	constraints	constraint	NOUN
easat-6812	26	19	.	.	PUNCT
easat-6812	27	1	many	many	ADJ
easat-6812	27	2	companies	company	NOUN
easat-6812	27	3	have	have	AUX
easat-6812	27	4	carried	carry	VERB
easat-6812	27	5	out	out	ADP
easat-6812	27	6	digital	digital	ADJ
easat-6812	27	7	transformations	transformation	NOUN
easat-6812	27	8	that	that	PRON
easat-6812	27	9	require	require	VERB
easat-6812	27	10	digital	digital	ADJ
easat-6812	27	11	technology	technology	NOUN
easat-6812	27	12	and	and	CCONJ
easat-6812	27	13	tools	tool	NOUN
easat-6812	27	14	to	to	PART
easat-6812	27	15	keep	keep	VERB
easat-6812	27	16	up	up	ADP
easat-6812	27	17	with	with	ADP
easat-6812	27	18	the	the	DET
easat-6812	27	19	times	time	NOUN
easat-6812	27	20	,	,	PUNCT
easat-6812	27	21	so	so	CCONJ
easat-6812	27	22	the	the	DET
easat-6812	27	23	need	need	NOUN
easat-6812	27	24	for	for	ADP
easat-6812	27	25	digital	digital	ADJ
easat-6812	27	26	investment	investment	NOUN
easat-6812	27	27	is	be	AUX
easat-6812	27	28	increasing	increase	VERB
easat-6812	27	29	.	.	PUNCT
easat-6812	28	1	188	188	NUM
easat-6812	28	2	edelweiss	edelweiss	PROPN
easat-6812	28	3	applied	apply	VERB
easat-6812	28	4	science	science	NOUN
easat-6812	28	5	and	and	CCONJ
easat-6812	28	6	technology	technology	NOUN
easat-6812	28	7	issn	issn	PROPN
easat-6812	28	8	:	:	PUNCT
easat-6812	28	9	2576	2576	NUM
easat-6812	28	10	-	-	SYM
easat-6812	28	11	8484	8484	NUM
easat-6812	28	12	vol	vol	NOUN
easat-6812	28	13	.	.	PROPN
easat-6812	29	1	9	9	NUM
easat-6812	29	2	,	,	PUNCT
easat-6812	29	3	no	no	INTJ
easat-6812	29	4	.	.	NOUN
easat-6812	29	5	5	5	NUM
easat-6812	29	6	:	:	PUNCT
easat-6812	29	7	187	187	NUM
easat-6812	29	8	-	-	SYM
easat-6812	29	9	196	196	NUM
easat-6812	29	10	,	,	PUNCT
easat-6812	29	11	2025	2025	NUM
easat-6812	29	12	doi	doi	NOUN
easat-6812	29	13	:	:	PUNCT
easat-6812	29	14	10.55214/25768484.v9i5.6812	10.55214/25768484.v9i5.6812	NOUN
easat-6812	29	15	©	©	PROPN
easat-6812	29	16	2025	2025	NUM
easat-6812	29	17	by	by	ADP
easat-6812	29	18	the	the	DET
easat-6812	29	19	authors	author	NOUN
easat-6812	29	20	;	;	PUNCT
easat-6812	29	21	licensee	licensee	PROPN
easat-6812	29	22	learning	learning	NOUN
easat-6812	29	23	gate	gate	VERB
easat-6812	29	24	many	many	ADJ
easat-6812	29	25	researchers	researcher	NOUN
easat-6812	29	26	define	define	VERB
easat-6812	29	27	digitalization	digitalization	NOUN
easat-6812	29	28	from	from	ADP
easat-6812	29	29	various	various	ADJ
easat-6812	29	30	perspectives	perspective	NOUN
easat-6812	29	31	.	.	PUNCT
easat-6812	30	1	kaplan	kaplan	PROPN
easat-6812	30	2	,	,	PUNCT
easat-6812	30	3	et	et	PROPN
easat-6812	30	4	al	al	PROPN
easat-6812	30	5	.	.	PUNCT
easat-6812	31	1	[	[	X
easat-6812	31	2	6	6	NUM
easat-6812	31	3	]	]	SYM
easat-6812	31	4	define	define	NOUN
easat-6812	31	5	digitalization	digitalization	NOUN
easat-6812	31	6	or	or	CCONJ
easat-6812	31	7	digital	digital	ADJ
easat-6812	31	8	transformation	transformation	NOUN
easat-6812	31	9	as	as	ADP
easat-6812	31	10	changes	change	NOUN
easat-6812	31	11	related	relate	VERB
easat-6812	31	12	to	to	ADP
easat-6812	31	13	the	the	DET
easat-6812	31	14	application	application	NOUN
easat-6812	31	15	of	of	ADP
easat-6812	31	16	digital	digital	ADJ
easat-6812	31	17	technology	technology	NOUN
easat-6812	31	18	across	across	ADP
easat-6812	31	19	different	different	ADJ
easat-6812	31	20	aspects	aspect	NOUN
easat-6812	31	21	of	of	ADP
easat-6812	31	22	human	human	ADJ
easat-6812	31	23	society	society	NOUN
easat-6812	31	24	kaplan	kaplan	PROPN
easat-6812	31	25	,	,	PUNCT
easat-6812	31	26	et	et	PROPN
easat-6812	31	27	al	al	PROPN
easat-6812	31	28	.	.	PUNCT
easat-6812	32	1	[	[	X
easat-6812	32	2	6	6	NUM
easat-6812	32	3	]	]	PUNCT
easat-6812	32	4	.	.	PUNCT
easat-6812	33	1	on	on	ADP
easat-6812	33	2	the	the	DET
easat-6812	33	3	other	other	ADJ
easat-6812	33	4	hand	hand	NOUN
easat-6812	33	5	,	,	PUNCT
easat-6812	33	6	yoo	yoo	PROPN
easat-6812	33	7	,	,	PUNCT
easat-6812	33	8	et	et	PROPN
easat-6812	33	9	al	al	PROPN
easat-6812	33	10	.	.	PUNCT
easat-6812	34	1	[	[	X
easat-6812	34	2	7	7	X
easat-6812	34	3	]	]	PUNCT
easat-6812	34	4	define	define	VERB
easat-6812	34	5	digital	digital	ADJ
easat-6812	34	6	transformation	transformation	NOUN
easat-6812	34	7	as	as	ADP
easat-6812	34	8	a	a	DET
easat-6812	34	9	combination	combination	NOUN
easat-6812	34	10	of	of	ADP
easat-6812	34	11	digitization	digitization	NOUN
easat-6812	34	12	and	and	CCONJ
easat-6812	34	13	digital	digital	ADJ
easat-6812	34	14	innovation	innovation	NOUN
easat-6812	34	15	processes	process	NOUN
easat-6812	34	16	to	to	PART
easat-6812	34	17	improve	improve	VERB
easat-6812	34	18	existing	exist	VERB
easat-6812	34	19	products	product	NOUN
easat-6812	34	20	through	through	ADP
easat-6812	34	21	more	more	ADV
easat-6812	34	22	sophisticated	sophisticated	ADJ
easat-6812	34	23	capabilities	capability	NOUN
easat-6812	34	24	[	[	X
easat-6812	34	25	8	8	NUM
easat-6812	34	26	]	]	PUNCT
easat-6812	34	27	.	.	PUNCT
easat-6812	35	1	companies	company	NOUN
easat-6812	35	2	carry	carry	VERB
easat-6812	35	3	out	out	ADP
easat-6812	35	4	digital	digital	ADJ
easat-6812	35	5	transformation	transformation	NOUN
easat-6812	35	6	with	with	ADP
easat-6812	35	7	the	the	DET
easat-6812	35	8	hope	hope	NOUN
easat-6812	35	9	of	of	ADP
easat-6812	35	10	further	further	ADJ
easat-6812	35	11	development	development	NOUN
easat-6812	35	12	,	,	PUNCT
easat-6812	35	13	especially	especially	ADV
easat-6812	35	14	in	in	ADP
easat-6812	35	15	improving	improve	VERB
easat-6812	35	16	performance	performance	NOUN
easat-6812	35	17	that	that	PRON
easat-6812	35	18	will	will	AUX
easat-6812	35	19	benefit	benefit	VERB
easat-6812	35	20	the	the	DET
easat-6812	35	21	company	company	NOUN
easat-6812	35	22	,	,	PUNCT
easat-6812	35	23	stakeholders	stakeholder	NOUN
easat-6812	35	24	,	,	PUNCT
easat-6812	35	25	and	and	CCONJ
easat-6812	35	26	shareholders	shareholder	NOUN
easat-6812	35	27	.	.	PUNCT
easat-6812	36	1	implementing	implement	VERB
easat-6812	36	2	this	this	DET
easat-6812	36	3	digital	digital	ADJ
easat-6812	36	4	transformation	transformation	NOUN
easat-6812	36	5	will	will	AUX
easat-6812	36	6	have	have	VERB
easat-6812	36	7	a	a	DET
easat-6812	36	8	positive	positive	ADJ
easat-6812	36	9	impact	impact	NOUN
easat-6812	36	10	,	,	PUNCT
easat-6812	36	11	such	such	ADJ
easat-6812	36	12	as	as	ADP
easat-6812	36	13	increasing	increase	VERB
easat-6812	36	14	productivity	productivity	NOUN
easat-6812	36	15	,	,	PUNCT
easat-6812	36	16	effectiveness	effectiveness	NOUN
easat-6812	36	17	,	,	PUNCT
easat-6812	36	18	and	and	CCONJ
easat-6812	36	19	product	product	NOUN
easat-6812	36	20	or	or	CCONJ
easat-6812	36	21	service	service	NOUN
easat-6812	36	22	innovation	innovation	NOUN
easat-6812	36	23	.	.	PUNCT
easat-6812	37	1	it	it	PRON
easat-6812	37	2	will	will	AUX
easat-6812	37	3	attract	attract	VERB
easat-6812	37	4	stakeholders	stakeholder	NOUN
easat-6812	37	5	and	and	CCONJ
easat-6812	37	6	shareholders	shareholder	NOUN
easat-6812	37	7	to	to	PART
easat-6812	37	8	invest	invest	VERB
easat-6812	37	9	their	their	PRON
easat-6812	37	10	shares	share	NOUN
easat-6812	37	11	and	and	CCONJ
easat-6812	37	12	help	help	VERB
easat-6812	37	13	the	the	DET
easat-6812	37	14	company	company	NOUN
easat-6812	37	15	avoid	avoid	VERB
easat-6812	37	16	financial	financial	ADJ
easat-6812	37	17	constraints	constraint	NOUN
easat-6812	37	18	.	.	PUNCT
easat-6812	38	1	as	as	ADP
easat-6812	38	2	the	the	DET
easat-6812	38	3	firm	firm	ADJ
easat-6812	38	4	ages	age	NOUN
easat-6812	38	5	,	,	PUNCT
easat-6812	38	6	the	the	DET
easat-6812	38	7	experience	experience	NOUN
easat-6812	38	8	and	and	CCONJ
easat-6812	38	9	knowledge	knowledge	NOUN
easat-6812	38	10	it	it	PRON
easat-6812	38	11	gains	gain	VERB
easat-6812	38	12	will	will	AUX
easat-6812	38	13	increase	increase	VERB
easat-6812	38	14	,	,	PUNCT
easat-6812	38	15	thereby	thereby	ADV
easat-6812	38	16	improving	improve	VERB
easat-6812	38	17	operational	operational	ADJ
easat-6812	38	18	efficiency	efficiency	NOUN
easat-6812	38	19	and	and	CCONJ
easat-6812	38	20	the	the	DET
easat-6812	38	21	ability	ability	NOUN
easat-6812	38	22	to	to	PART
easat-6812	38	23	adapt	adapt	VERB
easat-6812	38	24	.	.	PUNCT
easat-6812	39	1	more	more	ADV
easat-6812	39	2	mature	mature	ADJ
easat-6812	39	3	companies	company	NOUN
easat-6812	39	4	are	be	AUX
easat-6812	39	5	generally	generally	ADV
easat-6812	39	6	better	well	ADV
easat-6812	39	7	able	able	ADJ
easat-6812	39	8	to	to	PART
easat-6812	39	9	manage	manage	VERB
easat-6812	39	10	risks	risk	NOUN
easat-6812	39	11	and	and	CCONJ
easat-6812	39	12	take	take	VERB
easat-6812	39	13	advantage	advantage	NOUN
easat-6812	39	14	of	of	ADP
easat-6812	39	15	opportunities	opportunity	NOUN
easat-6812	39	16	so	so	SCONJ
easat-6812	39	17	that	that	PRON
easat-6812	39	18	firm	firm	ADJ
easat-6812	39	19	performance	performance	NOUN
easat-6812	39	20	can	can	AUX
easat-6812	39	21	improve	improve	VERB
easat-6812	39	22	.	.	PUNCT
easat-6812	40	1	as	as	ADP
easat-6812	40	2	evidence	evidence	NOUN
easat-6812	40	3	,	,	PUNCT
easat-6812	40	4	older	old	ADJ
easat-6812	40	5	companies	company	NOUN
easat-6812	40	6	experience	experience	VERB
easat-6812	40	7	increased	increase	VERB
easat-6812	40	8	productivity	productivity	NOUN
easat-6812	40	9	,	,	PUNCT
easat-6812	40	10	profitability	profitability	NOUN
easat-6812	40	11	,	,	PUNCT
easat-6812	40	12	larger	large	ADJ
easat-6812	40	13	firm	firm	ADJ
easat-6812	40	14	size	size	NOUN
easat-6812	40	15	,	,	PUNCT
easat-6812	40	16	lower	low	ADJ
easat-6812	40	17	debt	debt	NOUN
easat-6812	40	18	ratios	ratio	NOUN
easat-6812	40	19	,	,	PUNCT
easat-6812	40	20	and	and	CCONJ
easat-6812	40	21	higher	high	ADJ
easat-6812	40	22	equity	equity	NOUN
easat-6812	40	23	ratios	ratio	NOUN
easat-6812	40	24	.	.	PUNCT
easat-6812	41	1	furthermore	furthermore	ADV
easat-6812	41	2	,	,	PUNCT
easat-6812	41	3	older	old	ADJ
easat-6812	41	4	firms	firm	NOUN
easat-6812	41	5	are	be	AUX
easat-6812	41	6	better	well	ADJ
easat-6812	41	7	able	able	ADJ
easat-6812	41	8	to	to	PART
easat-6812	41	9	convert	convert	VERB
easat-6812	41	10	sales	sale	NOUN
easat-6812	41	11	growth	growth	NOUN
easat-6812	41	12	into	into	ADP
easat-6812	41	13	subsequent	subsequent	ADJ
easat-6812	41	14	growth	growth	NOUN
easat-6812	41	15	of	of	ADP
easat-6812	41	16	profits	profit	NOUN
easat-6812	41	17	and	and	CCONJ
easat-6812	41	18	productivity	productivity	NOUN
easat-6812	41	19	[	[	X
easat-6812	41	20	5	5	NUM
easat-6812	41	21	]	]	PUNCT
easat-6812	41	22	.	.	PUNCT
easat-6812	42	1	two	two	NUM
easat-6812	42	2	companies	company	NOUN
easat-6812	42	3	are	be	AUX
easat-6812	42	4	related	relate	VERB
easat-6812	42	5	to	to	ADP
easat-6812	42	6	the	the	DET
easat-6812	42	7	research	research	NOUN
easat-6812	42	8	variables	variable	NOUN
easat-6812	42	9	:	:	PUNCT
easat-6812	42	10	pt	pt	PROPN
easat-6812	42	11	kino	kino	PROPN
easat-6812	42	12	indonesia	indonesia	PROPN
easat-6812	42	13	(	(	PUNCT
easat-6812	42	14	kino	kino	PROPN
easat-6812	42	15	)	)	PUNCT
easat-6812	42	16	and	and	CCONJ
easat-6812	42	17	pt	pt	PROPN
easat-6812	42	18	gudang	gudang	PROPN
easat-6812	42	19	garam	garam	PROPN
easat-6812	42	20	(	(	PUNCT
easat-6812	42	21	ggrm	ggrm	NOUN
easat-6812	42	22	)	)	PUNCT
easat-6812	42	23	.	.	PUNCT
easat-6812	43	1	kino	kino	PROPN
easat-6812	43	2	initially	initially	ADV
easat-6812	43	3	penetrated	penetrate	VERB
easat-6812	43	4	the	the	DET
easat-6812	43	5	article	article	NOUN
easat-6812	43	6	through	through	ADP
easat-6812	43	7	a	a	DET
easat-6812	43	8	digital	digital	ADJ
easat-6812	43	9	platform	platform	NOUN
easat-6812	43	10	to	to	PART
easat-6812	43	11	market	market	VERB
easat-6812	43	12	daily	daily	ADJ
easat-6812	43	13	necessities	necessity	NOUN
easat-6812	43	14	.	.	PUNCT
easat-6812	44	1	however	however	ADV
easat-6812	44	2	,	,	PUNCT
easat-6812	44	3	because	because	SCONJ
easat-6812	44	4	the	the	DET
easat-6812	44	5	company	company	NOUN
easat-6812	44	6	's	's	PART
easat-6812	44	7	leverage	leverage	NOUN
easat-6812	44	8	is	be	AUX
easat-6812	44	9	relatively	relatively	ADV
easat-6812	44	10	high	high	ADJ
easat-6812	44	11	,	,	PUNCT
easat-6812	44	12	funding	fund	VERB
easat-6812	44	13	digital	digital	ADJ
easat-6812	44	14	innovation	innovation	NOUN
easat-6812	44	15	becomes	become	VERB
easat-6812	44	16	challenging	challenging	ADJ
easat-6812	44	17	.	.	PUNCT
easat-6812	45	1	the	the	DET
easat-6812	45	2	emergence	emergence	NOUN
easat-6812	45	3	of	of	ADP
easat-6812	45	4	this	this	DET
easat-6812	45	5	financial	financial	ADJ
easat-6812	45	6	constraint	constraint	NOUN
easat-6812	45	7	reduces	reduce	VERB
easat-6812	45	8	the	the	DET
easat-6812	45	9	company	company	NOUN
easat-6812	45	10	's	's	PART
easat-6812	45	11	space	space	NOUN
easat-6812	45	12	,	,	PUNCT
easat-6812	45	13	especially	especially	ADV
easat-6812	45	14	when	when	SCONJ
easat-6812	45	15	making	make	VERB
easat-6812	45	16	long	long	ADJ
easat-6812	45	17	-	-	PUNCT
easat-6812	45	18	term	term	NOUN
easat-6812	45	19	investments	investment	NOUN
easat-6812	45	20	that	that	PRON
easat-6812	45	21	affect	affect	VERB
easat-6812	45	22	profitability	profitability	NOUN
easat-6812	45	23	.	.	PUNCT
easat-6812	46	1	then	then	ADV
easat-6812	46	2	,	,	PUNCT
easat-6812	46	3	there	there	PRON
easat-6812	46	4	is	be	VERB
easat-6812	46	5	ggrm	ggrm	NOUN
easat-6812	46	6	,	,	PUNCT
easat-6812	46	7	which	which	PRON
easat-6812	46	8	was	be	AUX
easat-6812	46	9	established	establish	VERB
easat-6812	46	10	in	in	ADP
easat-6812	46	11	1958	1958	NUM
easat-6812	46	12	.	.	PUNCT
easat-6812	47	1	with	with	ADP
easat-6812	47	2	the	the	DET
easat-6812	47	3	wealth	wealth	NOUN
easat-6812	47	4	of	of	ADP
easat-6812	47	5	experience	experience	NOUN
easat-6812	47	6	gained	gain	VERB
easat-6812	47	7	,	,	PUNCT
easat-6812	47	8	this	this	DET
easat-6812	47	9	company	company	NOUN
easat-6812	47	10	has	have	VERB
easat-6812	47	11	a	a	DET
easat-6812	47	12	competitive	competitive	ADJ
easat-6812	47	13	advantage	advantage	NOUN
easat-6812	47	14	in	in	ADP
easat-6812	47	15	dominating	dominate	VERB
easat-6812	47	16	the	the	DET
easat-6812	47	17	domestic	domestic	ADJ
easat-6812	47	18	market	market	NOUN
easat-6812	47	19	.	.	PUNCT
easat-6812	48	1	here	here	ADV
easat-6812	48	2	,	,	PUNCT
easat-6812	48	3	firm	firm	ADJ
easat-6812	48	4	age	age	NOUN
easat-6812	48	5	helps	helps	AUX
easat-6812	48	6	maintain	maintain	VERB
easat-6812	48	7	performance	performance	NOUN
easat-6812	48	8	stability	stability	NOUN
easat-6812	48	9	even	even	ADV
easat-6812	48	10	though	though	SCONJ
easat-6812	48	11	the	the	DET
easat-6812	48	12	company	company	NOUN
easat-6812	48	13	faces	face	VERB
easat-6812	48	14	regulatory	regulatory	ADJ
easat-6812	48	15	and	and	CCONJ
easat-6812	48	16	competitive	competitive	ADJ
easat-6812	48	17	pressures	pressure	NOUN
easat-6812	48	18	.	.	PUNCT
easat-6812	49	1	teece	teece	PROPN
easat-6812	49	2	,	,	PUNCT
easat-6812	49	3	et	et	PROPN
easat-6812	49	4	al	al	PROPN
easat-6812	49	5	.	.	PUNCT
easat-6812	50	1	[	[	X
easat-6812	50	2	9	9	NUM
easat-6812	50	3	]	]	SYM
easat-6812	50	4	dynamic	dynamic	ADJ
easat-6812	50	5	capabilities	capability	NOUN
easat-6812	50	6	theory	theory	NOUN
easat-6812	50	7	is	be	AUX
easat-6812	50	8	intimately	intimately	ADV
easat-6812	50	9	tied	tie	VERB
easat-6812	50	10	to	to	ADP
easat-6812	50	11	digital	digital	ADJ
easat-6812	50	12	transformation	transformation	NOUN
easat-6812	50	13	.	.	PUNCT
easat-6812	51	1	the	the	DET
easat-6812	51	2	ability	ability	NOUN
easat-6812	51	3	of	of	ADP
easat-6812	51	4	a	a	DET
easat-6812	51	5	business	business	NOUN
easat-6812	51	6	to	to	PART
easat-6812	51	7	innovate	innovate	VERB
easat-6812	51	8	and	and	CCONJ
easat-6812	51	9	adapt	adapt	VERB
easat-6812	51	10	in	in	ADP
easat-6812	51	11	a	a	DET
easat-6812	51	12	changing	change	VERB
easat-6812	51	13	business	business	NOUN
easat-6812	51	14	environment	environment	NOUN
easat-6812	51	15	is	be	AUX
easat-6812	51	16	the	the	DET
easat-6812	51	17	main	main	ADJ
easat-6812	51	18	focus	focus	NOUN
easat-6812	51	19	of	of	ADP
easat-6812	51	20	this	this	DET
easat-6812	51	21	idea	idea	NOUN
easat-6812	51	22	.	.	PUNCT
easat-6812	52	1	companies	company	NOUN
easat-6812	52	2	in	in	ADP
easat-6812	52	3	the	the	DET
easat-6812	52	4	age	age	NOUN
easat-6812	52	5	of	of	ADP
easat-6812	52	6	technology	technology	NOUN
easat-6812	52	7	,	,	PUNCT
easat-6812	52	8	for	for	ADP
easat-6812	52	9	example	example	NOUN
easat-6812	52	10	,	,	PUNCT
easat-6812	52	11	invest	invest	VERB
easat-6812	52	12	more	more	ADJ
easat-6812	52	13	in	in	ADP
easat-6812	52	14	software	software	NOUN
easat-6812	52	15	or	or	CCONJ
easat-6812	52	16	additional	additional	ADJ
easat-6812	52	17	technological	technological	ADJ
easat-6812	52	18	devices	device	NOUN
easat-6812	52	19	to	to	PART
easat-6812	52	20	adapt	adapt	VERB
easat-6812	52	21	and	and	CCONJ
easat-6812	52	22	boost	boost	VERB
easat-6812	52	23	productivity	productivity	NOUN
easat-6812	52	24	.	.	PUNCT
easat-6812	53	1	according	accord	VERB
easat-6812	53	2	to	to	ADP
easat-6812	53	3	the	the	DET
easat-6812	53	4	resource	resource	NOUN
easat-6812	53	5	-	-	PUNCT
easat-6812	53	6	based	base	VERB
easat-6812	53	7	view	view	NOUN
easat-6812	53	8	(	(	PUNCT
easat-6812	53	9	rbv	rbv	NOUN
easat-6812	53	10	)	)	PUNCT
easat-6812	53	11	theory	theory	NOUN
easat-6812	53	12	,	,	PUNCT
easat-6812	53	13	a	a	DET
easat-6812	53	14	company	company	NOUN
easat-6812	53	15	's	's	PART
easat-6812	53	16	ability	ability	NOUN
easat-6812	53	17	to	to	PART
easat-6812	53	18	be	be	AUX
easat-6812	53	19	successful	successful	ADJ
easat-6812	53	20	is	be	AUX
easat-6812	53	21	based	base	VERB
easat-6812	53	22	on	on	ADP
easat-6812	53	23	its	its	PRON
easat-6812	53	24	resources	resource	NOUN
easat-6812	53	25	,	,	PUNCT
easat-6812	53	26	which	which	PRON
easat-6812	53	27	include	include	VERB
easat-6812	53	28	money	money	NOUN
easat-6812	53	29	,	,	PUNCT
easat-6812	53	30	expertise	expertise	NOUN
easat-6812	53	31	,	,	PUNCT
easat-6812	53	32	and	and	CCONJ
easat-6812	53	33	technology	technology	NOUN
easat-6812	53	34	.	.	PUNCT
easat-6812	54	1	investment	investment	NOUN
easat-6812	54	2	in	in	ADP
easat-6812	54	3	digital	digital	ADJ
easat-6812	54	4	transformation	transformation	NOUN
easat-6812	54	5	is	be	AUX
easat-6812	54	6	limited	limit	VERB
easat-6812	54	7	by	by	ADP
easat-6812	54	8	financial	financial	ADJ
easat-6812	54	9	constraints	constraint	NOUN
easat-6812	54	10	,	,	PUNCT
easat-6812	54	11	which	which	PRON
easat-6812	54	12	impedes	impede	VERB
easat-6812	54	13	performance	performance	NOUN
easat-6812	54	14	and	and	CCONJ
easat-6812	54	15	innovation	innovation	NOUN
easat-6812	54	16	.	.	PUNCT
easat-6812	55	1	conversely	conversely	ADV
easat-6812	55	2	,	,	PUNCT
easat-6812	55	3	the	the	DET
easat-6812	55	4	firm	firm	NOUN
easat-6812	55	5	's	's	PART
easat-6812	55	6	age	age	NOUN
easat-6812	55	7	provides	provide	VERB
easat-6812	55	8	valuable	valuable	ADJ
easat-6812	55	9	experience	experience	NOUN
easat-6812	55	10	and	and	CCONJ
easat-6812	55	11	reputation	reputation	NOUN
easat-6812	55	12	,	,	PUNCT
easat-6812	55	13	which	which	PRON
easat-6812	55	14	helps	help	VERB
easat-6812	55	15	improve	improve	VERB
easat-6812	55	16	performance	performance	NOUN
easat-6812	55	17	,	,	PUNCT
easat-6812	55	18	mainly	mainly	ADV
easat-6812	55	19	when	when	SCONJ
easat-6812	55	20	supported	support	VERB
easat-6812	55	21	by	by	ADP
easat-6812	55	22	technological	technological	ADJ
easat-6812	55	23	advances	advance	NOUN
easat-6812	55	24	.	.	PUNCT
easat-6812	56	1	this	this	DET
easat-6812	56	2	paper	paper	NOUN
easat-6812	56	3	examines	examine	VERB
easat-6812	56	4	the	the	DET
easat-6812	56	5	impact	impact	NOUN
easat-6812	56	6	of	of	ADP
easat-6812	56	7	financial	financial	ADJ
easat-6812	56	8	constraints	constraint	NOUN
easat-6812	56	9	and	and	CCONJ
easat-6812	56	10	firm	firm	ADJ
easat-6812	56	11	age	age	NOUN
easat-6812	56	12	on	on	ADP
easat-6812	56	13	firm	firm	ADJ
easat-6812	56	14	performance	performance	NOUN
easat-6812	56	15	.	.	PUNCT
easat-6812	57	1	in	in	ADP
easat-6812	57	2	addition	addition	NOUN
easat-6812	57	3	,	,	PUNCT
easat-6812	57	4	we	we	PRON
easat-6812	57	5	examine	examine	VERB
easat-6812	57	6	whether	whether	SCONJ
easat-6812	57	7	digital	digital	ADJ
easat-6812	57	8	transformation	transformation	NOUN
easat-6812	57	9	,	,	PUNCT
easat-6812	57	10	which	which	PRON
easat-6812	57	11	influences	influence	VERB
easat-6812	57	12	a	a	DET
easat-6812	57	13	mediating	mediate	VERB
easat-6812	57	14	variable	variable	NOUN
easat-6812	57	15	,	,	PUNCT
easat-6812	57	16	will	will	AUX
easat-6812	57	17	affect	affect	VERB
easat-6812	57	18	the	the	DET
easat-6812	57	19	relationship	relationship	NOUN
easat-6812	57	20	between	between	ADP
easat-6812	57	21	financial	financial	ADJ
easat-6812	57	22	constraints	constraint	NOUN
easat-6812	57	23	and	and	CCONJ
easat-6812	57	24	firm	firm	ADJ
easat-6812	57	25	performance	performance	NOUN
easat-6812	57	26	.	.	PUNCT
easat-6812	58	1	therefore	therefore	ADV
easat-6812	58	2	,	,	PUNCT
easat-6812	58	3	this	this	DET
easat-6812	58	4	study	study	NOUN
easat-6812	58	5	aims	aim	VERB
easat-6812	58	6	to	to	PART
easat-6812	58	7	provide	provide	VERB
easat-6812	58	8	theoretical	theoretical	ADJ
easat-6812	58	9	and	and	CCONJ
easat-6812	58	10	practical	practical	ADJ
easat-6812	58	11	contributions	contribution	NOUN
easat-6812	58	12	to	to	ADP
easat-6812	58	13	understanding	understand	VERB
easat-6812	58	14	the	the	DET
easat-6812	58	15	dynamics	dynamic	NOUN
easat-6812	58	16	of	of	ADP
easat-6812	58	17	firm	firm	ADJ
easat-6812	58	18	performance	performance	NOUN
easat-6812	58	19	,	,	PUNCT
easat-6812	58	20	especially	especially	ADV
easat-6812	58	21	in	in	ADP
easat-6812	58	22	the	the	DET
easat-6812	58	23	era	era	NOUN
easat-6812	58	24	of	of	ADP
easat-6812	58	25	rapid	rapid	ADJ
easat-6812	58	26	digitalization	digitalization	NOUN
easat-6812	58	27	.	.	PUNCT
easat-6812	59	1	figure	figure	NOUN
easat-6812	59	2	1	1	NUM
easat-6812	59	3	.	.	PUNCT
easat-6812	59	4	conceptual	conceptual	ADJ
easat-6812	59	5	framework	framework	NOUN
easat-6812	59	6	.	.	PUNCT
easat-6812	60	1	189	189	NUM
easat-6812	60	2	edelweiss	edelweiss	PROPN
easat-6812	60	3	applied	apply	VERB
easat-6812	60	4	science	science	NOUN
easat-6812	60	5	and	and	CCONJ
easat-6812	60	6	technology	technology	NOUN
easat-6812	60	7	issn	issn	PROPN
easat-6812	60	8	:	:	PUNCT
easat-6812	60	9	2576	2576	NUM
easat-6812	60	10	-	-	SYM
easat-6812	60	11	8484	8484	NUM
easat-6812	60	12	vol	vol	NOUN
easat-6812	60	13	.	.	PROPN
easat-6812	61	1	9	9	NUM
easat-6812	61	2	,	,	PUNCT
easat-6812	61	3	no	no	INTJ
easat-6812	61	4	.	.	NOUN
easat-6812	61	5	5	5	NUM
easat-6812	61	6	:	:	PUNCT
easat-6812	61	7	187	187	NUM
easat-6812	61	8	-	-	SYM
easat-6812	61	9	196	196	NUM
easat-6812	61	10	,	,	PUNCT
easat-6812	61	11	2025	2025	NUM
easat-6812	61	12	doi	doi	NOUN
easat-6812	61	13	:	:	PUNCT
easat-6812	61	14	10.55214/25768484.v9i5.6812	10.55214/25768484.v9i5.6812	NOUN
easat-6812	61	15	©	©	PROPN
easat-6812	61	16	2025	2025	NUM
easat-6812	61	17	by	by	ADP
easat-6812	61	18	the	the	DET
easat-6812	61	19	authors	author	NOUN
easat-6812	61	20	;	;	PUNCT
easat-6812	61	21	licensee	licensee	PROPN
easat-6812	61	22	learning	learning	NOUN
easat-6812	61	23	gate	gate	VERB
easat-6812	61	24	1.1	1.1	NUM
easat-6812	61	25	.	.	PUNCT
easat-6812	62	1	research	research	NOUN
easat-6812	62	2	questions	question	NOUN
easat-6812	62	3	1	1	NUM
easat-6812	62	4	.	.	PUNCT
easat-6812	63	1	does	do	AUX
easat-6812	63	2	financial	financial	ADJ
easat-6812	63	3	constraint	constraint	NOUN
easat-6812	63	4	affect	affect	VERB
easat-6812	63	5	firm	firm	ADJ
easat-6812	63	6	performance	performance	NOUN
easat-6812	63	7	?	?	PUNCT
easat-6812	64	1	2	2	X
easat-6812	64	2	.	.	X
easat-6812	64	3	does	do	AUX
easat-6812	64	4	digital	digital	ADJ
easat-6812	64	5	transformation	transformation	NOUN
easat-6812	64	6	mediate	mediate	VERB
easat-6812	64	7	the	the	DET
easat-6812	64	8	relationship	relationship	NOUN
easat-6812	64	9	between	between	ADP
easat-6812	64	10	financial	financial	ADJ
easat-6812	64	11	constraint	constraint	NOUN
easat-6812	64	12	and	and	CCONJ
easat-6812	64	13	firm	firm	ADJ
easat-6812	64	14	performance	performance	NOUN
easat-6812	64	15	?	?	PUNCT
easat-6812	65	1	3	3	X
easat-6812	65	2	.	.	X
easat-6812	65	3	does	do	AUX
easat-6812	65	4	firm	firm	ADJ
easat-6812	65	5	age	age	NOUN
easat-6812	65	6	affect	affect	VERB
easat-6812	65	7	firm	firm	ADJ
easat-6812	65	8	performance	performance	NOUN
easat-6812	65	9	?	?	PUNCT
easat-6812	66	1	2	2	X
easat-6812	66	2	.	.	X
easat-6812	66	3	literature	literature	NOUN
easat-6812	66	4	review	review	VERB
easat-6812	66	5	2.1	2.1	NUM
easat-6812	66	6	.	.	PUNCT
easat-6812	67	1	financial	financial	ADJ
easat-6812	67	2	constraints	constraint	NOUN
easat-6812	67	3	on	on	ADP
easat-6812	67	4	firm	firm	ADJ
easat-6812	67	5	performance	performance	NOUN
easat-6812	67	6	companies	company	NOUN
easat-6812	67	7	that	that	PRON
easat-6812	67	8	have	have	VERB
easat-6812	67	9	better	well	ADJ
easat-6812	67	10	access	access	NOUN
easat-6812	67	11	to	to	ADP
easat-6812	67	12	finance	finance	NOUN
easat-6812	67	13	have	have	VERB
easat-6812	67	14	better	well	ADJ
easat-6812	67	15	firm	firm	ADJ
easat-6812	67	16	performance	performance	NOUN
easat-6812	67	17	.	.	PUNCT
easat-6812	68	1	when	when	SCONJ
easat-6812	68	2	companies	company	NOUN
easat-6812	68	3	experience	experience	VERB
easat-6812	68	4	financial	financial	ADJ
easat-6812	68	5	constraints	constraint	NOUN
easat-6812	68	6	,	,	PUNCT
easat-6812	68	7	they	they	PRON
easat-6812	68	8	will	will	AUX
easat-6812	68	9	also	also	ADV
easat-6812	68	10	have	have	VERB
easat-6812	68	11	difficulty	difficulty	NOUN
easat-6812	68	12	investing	investing	NOUN
easat-6812	68	13	,	,	PUNCT
easat-6812	68	14	which	which	PRON
easat-6812	68	15	will	will	AUX
easat-6812	68	16	hamper	hamper	VERB
easat-6812	68	17	the	the	DET
easat-6812	68	18	company	company	NOUN
easat-6812	68	19	's	's	PART
easat-6812	68	20	development	development	NOUN
easat-6812	68	21	and	and	CCONJ
easat-6812	68	22	growth	growth	NOUN
easat-6812	68	23	and	and	CCONJ
easat-6812	68	24	will	will	AUX
easat-6812	68	25	certainly	certainly	ADV
easat-6812	68	26	also	also	ADV
easat-6812	68	27	impact	impact	VERB
easat-6812	68	28	firm	firm	ADJ
easat-6812	68	29	performance	performance	NOUN
easat-6812	68	30	[	[	X
easat-6812	68	31	10	10	NUM
easat-6812	68	32	]	]	PUNCT
easat-6812	68	33	.	.	PUNCT
easat-6812	69	1	the	the	DET
easat-6812	69	2	impact	impact	NOUN
easat-6812	69	3	of	of	ADP
easat-6812	69	4	financial	financial	ADJ
easat-6812	69	5	constraints	constraint	NOUN
easat-6812	69	6	can	can	AUX
easat-6812	69	7	also	also	ADV
easat-6812	69	8	hinder	hinder	VERB
easat-6812	69	9	companies	company	NOUN
easat-6812	69	10	from	from	ADP
easat-6812	69	11	investing	invest	VERB
easat-6812	69	12	in	in	ADP
easat-6812	69	13	digital	digital	ADJ
easat-6812	69	14	technology	technology	NOUN
easat-6812	69	15	,	,	PUNCT
easat-6812	69	16	which	which	PRON
easat-6812	69	17	will	will	AUX
easat-6812	69	18	ultimately	ultimately	ADV
easat-6812	69	19	also	also	ADV
easat-6812	69	20	have	have	VERB
easat-6812	69	21	an	an	DET
easat-6812	69	22	impact	impact	NOUN
easat-6812	69	23	on	on	ADP
easat-6812	69	24	firm	firm	ADJ
easat-6812	69	25	performance	performance	NOUN
easat-6812	69	26	.	.	PUNCT
easat-6812	70	1	suppose	suppose	VERB
easat-6812	70	2	the	the	DET
easat-6812	70	3	company	company	NOUN
easat-6812	70	4	can	can	AUX
easat-6812	70	5	overcome	overcome	VERB
easat-6812	70	6	the	the	DET
easat-6812	70	7	existing	exist	VERB
easat-6812	70	8	financial	financial	ADJ
easat-6812	70	9	constraints	constraint	NOUN
easat-6812	70	10	[	[	X
easat-6812	70	11	10	10	NUM
easat-6812	70	12	]	]	PUNCT
easat-6812	70	13	.	.	PUNCT
easat-6812	71	1	in	in	ADP
easat-6812	71	2	that	that	DET
easat-6812	71	3	case	case	NOUN
easat-6812	71	4	,	,	PUNCT
easat-6812	71	5	it	it	PRON
easat-6812	71	6	is	be	AUX
easat-6812	71	7	likely	likely	ADJ
easat-6812	71	8	to	to	PART
easat-6812	71	9	carry	carry	VERB
easat-6812	71	10	out	out	ADP
easat-6812	71	11	digital	digital	ADJ
easat-6812	71	12	transformation	transformation	NOUN
easat-6812	71	13	to	to	PART
easat-6812	71	14	impact	impact	VERB
easat-6812	71	15	operational	operational	ADJ
easat-6812	71	16	efficiency	efficiency	NOUN
easat-6812	71	17	,	,	PUNCT
easat-6812	71	18	expand	expand	VERB
easat-6812	71	19	the	the	DET
easat-6812	71	20	market	market	NOUN
easat-6812	71	21	,	,	PUNCT
easat-6812	71	22	and	and	CCONJ
easat-6812	71	23	encourage	encourage	VERB
easat-6812	71	24	existing	exist	VERB
easat-6812	71	25	innovation	innovation	NOUN
easat-6812	71	26	.	.	PUNCT
easat-6812	72	1	as	as	SCONJ
easat-6812	72	2	explained	explain	VERB
easat-6812	72	3	in	in	ADP
easat-6812	72	4	the	the	DET
easat-6812	72	5	meta	meta	ADJ
easat-6812	72	6	-	-	PUNCT
easat-6812	72	7	analysis	analysis	NOUN
easat-6812	72	8	study	study	NOUN
easat-6812	72	9	by	by	ADP
easat-6812	72	10	putra	putra	PROPN
easat-6812	72	11	[	[	X
easat-6812	72	12	5	5	NUM
easat-6812	72	13	]	]	PUNCT
easat-6812	72	14	financial	financial	ADJ
easat-6812	72	15	constraints	constraint	NOUN
easat-6812	72	16	were	be	AUX
easat-6812	72	17	repeatedly	repeatedly	ADV
easat-6812	72	18	identified	identify	VERB
easat-6812	72	19	to	to	PART
easat-6812	72	20	have	have	VERB
easat-6812	72	21	a	a	DET
easat-6812	72	22	negative	negative	ADJ
easat-6812	72	23	impact	impact	NOUN
easat-6812	72	24	on	on	ADP
easat-6812	72	25	firm	firm	ADJ
easat-6812	72	26	performance	performance	NOUN
easat-6812	72	27	.	.	PUNCT
easat-6812	73	1	these	these	DET
easat-6812	73	2	constraints	constraint	NOUN
easat-6812	73	3	hamper	hamper	VERB
easat-6812	73	4	business	business	NOUN
easat-6812	73	5	development	development	NOUN
easat-6812	73	6	and	and	CCONJ
easat-6812	73	7	investment	investment	NOUN
easat-6812	73	8	and	and	CCONJ
easat-6812	73	9	limit	limit	NOUN
easat-6812	73	10	firms	firm	NOUN
easat-6812	73	11	’	'	PUNCT
easat-6812	73	12	ability	ability	NOUN
easat-6812	73	13	to	to	PART
easat-6812	73	14	innovate	innovate	VERB
easat-6812	73	15	and	and	CCONJ
easat-6812	73	16	digitally	digitally	ADV
easat-6812	73	17	transform	transform	VERB
easat-6812	73	18	,	,	PUNCT
easat-6812	73	19	having	have	VERB
easat-6812	73	20	a	a	DET
easat-6812	73	21	longterm	longterm	ADJ
easat-6812	73	22	impact	impact	NOUN
easat-6812	73	23	on	on	ADP
easat-6812	73	24	operational	operational	ADJ
easat-6812	73	25	efficiency	efficiency	NOUN
easat-6812	73	26	and	and	CCONJ
easat-6812	73	27	competitiveness	competitiveness	NOUN
easat-6812	73	28	.	.	PUNCT
easat-6812	74	1	regarding	regard	VERB
easat-6812	74	2	these	these	DET
easat-6812	74	3	findings	finding	NOUN
easat-6812	74	4	,	,	PUNCT
easat-6812	74	5	this	this	DET
easat-6812	74	6	study	study	NOUN
easat-6812	74	7	aims	aim	VERB
easat-6812	74	8	to	to	PART
easat-6812	74	9	examine	examine	VERB
easat-6812	74	10	a	a	DET
easat-6812	74	11	similar	similar	ADJ
easat-6812	74	12	relationship	relationship	NOUN
easat-6812	74	13	in	in	ADP
easat-6812	74	14	the	the	DET
easat-6812	74	15	context	context	NOUN
easat-6812	74	16	of	of	ADP
easat-6812	74	17	the	the	DET
easat-6812	74	18	consumer	consumer	NOUN
easat-6812	74	19	non	non	ADJ
easat-6812	74	20	-	-	ADJ
easat-6812	74	21	cyclical	cyclical	ADJ
easat-6812	74	22	sector	sector	NOUN
easat-6812	74	23	in	in	ADP
easat-6812	74	24	indonesia	indonesia	PROPN
easat-6812	74	25	.	.	PUNCT
easat-6812	75	1	h1	h1	PROPN
easat-6812	75	2	:	:	PUNCT
easat-6812	75	3	financial	financial	ADJ
easat-6812	75	4	constraint	constraint	NOUN
easat-6812	75	5	significantly	significantly	ADV
easat-6812	75	6	negatively	negatively	ADV
easat-6812	75	7	affects	affect	VERB
easat-6812	75	8	firm	firm	ADJ
easat-6812	75	9	performance	performance	NOUN
easat-6812	75	10	.	.	PUNCT
easat-6812	76	1	2.2	2.2	NUM
easat-6812	76	2	.	.	PUNCT
easat-6812	77	1	digital	digital	ADJ
easat-6812	77	2	transformation	transformation	NOUN
easat-6812	77	3	as	as	ADP
easat-6812	77	4	a	a	DET
easat-6812	77	5	mediator	mediator	NOUN
easat-6812	77	6	between	between	ADP
easat-6812	77	7	financial	financial	ADJ
easat-6812	77	8	constraints	constraint	NOUN
easat-6812	77	9	and	and	CCONJ
easat-6812	77	10	firm	firm	ADJ
easat-6812	77	11	performance	performance	NOUN
easat-6812	77	12	financial	financial	ADJ
easat-6812	77	13	constraints	constraint	NOUN
easat-6812	77	14	have	have	VERB
easat-6812	77	15	an	an	DET
easat-6812	77	16	impact	impact	NOUN
easat-6812	77	17	that	that	PRON
easat-6812	77	18	can	can	AUX
easat-6812	77	19	also	also	ADV
easat-6812	77	20	hinder	hinder	VERB
easat-6812	77	21	companies	company	NOUN
easat-6812	77	22	from	from	ADP
easat-6812	77	23	investing	invest	VERB
easat-6812	77	24	in	in	ADP
easat-6812	77	25	digital	digital	ADJ
easat-6812	77	26	technology	technology	NOUN
easat-6812	77	27	,	,	PUNCT
easat-6812	77	28	which	which	PRON
easat-6812	77	29	will	will	AUX
easat-6812	77	30	ultimately	ultimately	ADV
easat-6812	77	31	also	also	ADV
easat-6812	77	32	have	have	VERB
easat-6812	77	33	an	an	DET
easat-6812	77	34	impact	impact	NOUN
easat-6812	77	35	on	on	ADP
easat-6812	77	36	firm	firm	ADJ
easat-6812	77	37	performance	performance	NOUN
easat-6812	77	38	.	.	PUNCT
easat-6812	78	1	suppose	suppose	VERB
easat-6812	78	2	the	the	DET
easat-6812	78	3	company	company	NOUN
easat-6812	78	4	has	have	AUX
easat-6812	78	5	been	be	AUX
easat-6812	78	6	able	able	ADJ
easat-6812	78	7	to	to	PART
easat-6812	78	8	overcome	overcome	VERB
easat-6812	78	9	the	the	DET
easat-6812	78	10	existing	exist	VERB
easat-6812	78	11	financial	financial	ADJ
easat-6812	78	12	constraints	constraint	NOUN
easat-6812	78	13	.	.	PUNCT
easat-6812	79	1	in	in	ADP
easat-6812	79	2	that	that	DET
easat-6812	79	3	case	case	NOUN
easat-6812	79	4	,	,	PUNCT
easat-6812	79	5	it	it	PRON
easat-6812	79	6	is	be	AUX
easat-6812	79	7	likely	likely	ADJ
easat-6812	79	8	to	to	PART
easat-6812	79	9	carry	carry	VERB
easat-6812	79	10	out	out	ADP
easat-6812	79	11	digital	digital	ADJ
easat-6812	79	12	transformation	transformation	NOUN
easat-6812	79	13	to	to	PART
easat-6812	79	14	influence	influence	VERB
easat-6812	79	15	operational	operational	ADJ
easat-6812	79	16	efficiency	efficiency	NOUN
easat-6812	79	17	,	,	PUNCT
easat-6812	79	18	expand	expand	VERB
easat-6812	79	19	the	the	DET
easat-6812	79	20	market	market	NOUN
easat-6812	79	21	,	,	PUNCT
easat-6812	79	22	and	and	CCONJ
easat-6812	79	23	encourage	encourage	VERB
easat-6812	79	24	existing	exist	VERB
easat-6812	79	25	innovation	innovation	NOUN
easat-6812	79	26	.	.	PUNCT
easat-6812	80	1	digital	digital	ADJ
easat-6812	80	2	transformation	transformation	NOUN
easat-6812	80	3	integrates	integrate	VERB
easat-6812	80	4	technology	technology	NOUN
easat-6812	80	5	into	into	ADP
easat-6812	80	6	various	various	ADJ
easat-6812	80	7	aspects	aspect	NOUN
easat-6812	80	8	of	of	ADP
easat-6812	80	9	a	a	DET
easat-6812	80	10	company	company	NOUN
easat-6812	80	11	's	's	PART
easat-6812	80	12	operations	operation	NOUN
easat-6812	80	13	to	to	PART
easat-6812	80	14	improve	improve	VERB
easat-6812	80	15	efficiency	efficiency	NOUN
easat-6812	80	16	,	,	PUNCT
easat-6812	80	17	competitiveness	competitiveness	NOUN
easat-6812	80	18	,	,	PUNCT
easat-6812	80	19	and	and	CCONJ
easat-6812	80	20	innovation	innovation	NOUN
easat-6812	80	21	[	[	X
easat-6812	80	22	11	11	NUM
easat-6812	80	23	]	]	PUNCT
easat-6812	80	24	.	.	PUNCT
easat-6812	81	1	companies	company	NOUN
easat-6812	81	2	that	that	PRON
easat-6812	81	3	can	can	AUX
easat-6812	81	4	integrate	integrate	VERB
easat-6812	81	5	digital	digital	ADJ
easat-6812	81	6	technology	technology	NOUN
easat-6812	81	7	into	into	ADP
easat-6812	81	8	operational	operational	ADJ
easat-6812	81	9	processes	process	NOUN
easat-6812	81	10	in	in	ADP
easat-6812	81	11	all	all	DET
easat-6812	81	12	sectors	sector	NOUN
easat-6812	81	13	will	will	AUX
easat-6812	81	14	better	well	ADV
easat-6812	81	15	survive	survive	VERB
easat-6812	81	16	in	in	ADP
easat-6812	81	17	the	the	DET
easat-6812	81	18	digital	digital	ADJ
easat-6812	81	19	era	era	NOUN
easat-6812	81	20	in	in	ADP
easat-6812	81	21	the	the	DET
easat-6812	81	22	modern	modern	ADJ
easat-6812	81	23	era	era	NOUN
easat-6812	81	24	.	.	PUNCT
easat-6812	82	1	based	base	VERB
easat-6812	82	2	on	on	ADP
easat-6812	82	3	previous	previous	ADJ
easat-6812	82	4	research	research	NOUN
easat-6812	82	5	,	,	PUNCT
easat-6812	82	6	digital	digital	ADJ
easat-6812	82	7	transformation	transformation	NOUN
easat-6812	82	8	plays	play	VERB
easat-6812	82	9	a	a	DET
easat-6812	82	10	significant	significant	ADJ
easat-6812	82	11	role	role	NOUN
easat-6812	82	12	as	as	ADP
easat-6812	82	13	a	a	DET
easat-6812	82	14	mediator	mediator	NOUN
easat-6812	82	15	between	between	ADP
easat-6812	82	16	financial	financial	ADJ
easat-6812	82	17	constraints	constraint	NOUN
easat-6812	82	18	and	and	CCONJ
easat-6812	82	19	company	company	NOUN
easat-6812	82	20	performance	performance	NOUN
easat-6812	82	21	.	.	PUNCT
easat-6812	83	1	this	this	DET
easat-6812	83	2	study	study	NOUN
easat-6812	83	3	shows	show	VERB
easat-6812	83	4	that	that	SCONJ
easat-6812	83	5	companies	company	NOUN
easat-6812	83	6	that	that	PRON
easat-6812	83	7	can	can	AUX
easat-6812	83	8	overcome	overcome	VERB
easat-6812	83	9	financial	financial	ADJ
easat-6812	83	10	constraints	constraint	NOUN
easat-6812	83	11	are	be	AUX
easat-6812	83	12	more	more	ADV
easat-6812	83	13	likely	likely	ADJ
easat-6812	83	14	to	to	PART
easat-6812	83	15	invest	invest	VERB
easat-6812	83	16	in	in	ADP
easat-6812	83	17	digital	digital	ADJ
easat-6812	83	18	transformation	transformation	NOUN
easat-6812	83	19	,	,	PUNCT
easat-6812	83	20	which	which	PRON
easat-6812	83	21	ultimately	ultimately	ADV
easat-6812	83	22	improves	improve	VERB
easat-6812	83	23	operational	operational	ADJ
easat-6812	83	24	efficiency	efficiency	NOUN
easat-6812	83	25	,	,	PUNCT
easat-6812	83	26	expands	expand	VERB
easat-6812	83	27	markets	market	NOUN
easat-6812	83	28	,	,	PUNCT
easat-6812	83	29	and	and	CCONJ
easat-6812	83	30	enhances	enhance	VERB
easat-6812	83	31	innovation	innovation	NOUN
easat-6812	83	32	.	.	PUNCT
easat-6812	84	1	research	research	NOUN
easat-6812	84	2	also	also	ADV
easat-6812	84	3	emphasizes	emphasize	VERB
easat-6812	84	4	that	that	SCONJ
easat-6812	84	5	the	the	DET
easat-6812	84	6	implementation	implementation	NOUN
easat-6812	84	7	of	of	ADP
easat-6812	84	8	digital	digital	ADJ
easat-6812	84	9	technology	technology	NOUN
easat-6812	84	10	in	in	ADP
easat-6812	84	11	a	a	DET
easat-6812	84	12	company	company	NOUN
easat-6812	84	13	's	's	PART
easat-6812	84	14	operational	operational	ADJ
easat-6812	84	15	processes	process	NOUN
easat-6812	84	16	can	can	AUX
easat-6812	84	17	increase	increase	VERB
easat-6812	84	18	a	a	DET
easat-6812	84	19	company	company	NOUN
easat-6812	84	20	's	's	PART
easat-6812	84	21	efficiency	efficiency	NOUN
easat-6812	84	22	,	,	PUNCT
easat-6812	84	23	competitiveness	competitiveness	NOUN
easat-6812	84	24	,	,	PUNCT
easat-6812	84	25	and	and	CCONJ
easat-6812	84	26	innovation	innovation	NOUN
easat-6812	84	27	capabilities	capability	NOUN
easat-6812	84	28	.	.	PUNCT
easat-6812	85	1	therefore	therefore	ADV
easat-6812	85	2	,	,	PUNCT
easat-6812	85	3	the	the	DET
easat-6812	85	4	hypothesis	hypothesis	NOUN
easat-6812	85	5	proposed	propose	VERB
easat-6812	85	6	in	in	ADP
easat-6812	85	7	this	this	DET
easat-6812	85	8	study	study	NOUN
easat-6812	85	9	refers	refer	VERB
easat-6812	85	10	to	to	ADP
easat-6812	85	11	these	these	DET
easat-6812	85	12	findings	finding	NOUN
easat-6812	85	13	,	,	PUNCT
easat-6812	85	14	as	as	SCONJ
easat-6812	85	15	explained	explain	VERB
easat-6812	85	16	in	in	ADP
easat-6812	85	17	related	related	ADJ
easat-6812	85	18	literature	literature	NOUN
easat-6812	85	19	.	.	PUNCT
easat-6812	86	1	h2	h2	PROPN
easat-6812	86	2	:	:	PUNCT
easat-6812	86	3	digital	digital	ADJ
easat-6812	86	4	transformation	transformation	NOUN
easat-6812	86	5	mediates	mediate	VERB
easat-6812	86	6	the	the	DET
easat-6812	86	7	relationship	relationship	NOUN
easat-6812	86	8	between	between	ADP
easat-6812	86	9	financial	financial	ADJ
easat-6812	86	10	constraint	constraint	NOUN
easat-6812	86	11	and	and	CCONJ
easat-6812	86	12	firm	firm	ADJ
easat-6812	86	13	performance	performance	NOUN
easat-6812	86	14	.	.	PUNCT
easat-6812	87	1	2.3	2.3	NUM
easat-6812	87	2	.	.	PUNCT
easat-6812	87	3	firm	firm	ADJ
easat-6812	87	4	age	age	NOUN
easat-6812	87	5	on	on	ADP
easat-6812	87	6	firm	firm	ADJ
easat-6812	87	7	performance	performance	NOUN
easat-6812	87	8	firm	firm	NOUN
easat-6812	87	9	age	age	NOUN
easat-6812	87	10	is	be	AUX
easat-6812	87	11	often	often	ADV
easat-6812	87	12	considered	consider	VERB
easat-6812	87	13	a	a	DET
easat-6812	87	14	significant	significant	ADJ
easat-6812	87	15	factor	factor	NOUN
easat-6812	87	16	that	that	PRON
easat-6812	87	17	can	can	AUX
easat-6812	87	18	affect	affect	VERB
easat-6812	87	19	firm	firm	ADJ
easat-6812	87	20	performance	performance	NOUN
easat-6812	87	21	.	.	PUNCT
easat-6812	88	1	companies	company	NOUN
easat-6812	88	2	that	that	PRON
easat-6812	88	3	have	have	AUX
easat-6812	88	4	been	be	AUX
easat-6812	88	5	established	establish	VERB
easat-6812	88	6	for	for	ADP
easat-6812	88	7	a	a	DET
easat-6812	88	8	long	long	ADJ
easat-6812	88	9	time	time	NOUN
easat-6812	88	10	have	have	VERB
easat-6812	88	11	more	more	ADJ
easat-6812	88	12	experience	experience	NOUN
easat-6812	88	13	in	in	ADP
easat-6812	88	14	many	many	ADJ
easat-6812	88	15	things	thing	NOUN
easat-6812	88	16	,	,	PUNCT
easat-6812	88	17	which	which	PRON
easat-6812	88	18	certainly	certainly	ADV
easat-6812	88	19	makes	make	VERB
easat-6812	88	20	them	they	PRON
easat-6812	88	21	able	able	ADJ
easat-6812	88	22	to	to	PART
easat-6812	88	23	face	face	VERB
easat-6812	88	24	market	market	NOUN
easat-6812	88	25	challenges	challenge	NOUN
easat-6812	88	26	more	more	ADV
easat-6812	88	27	effectively	effectively	ADV
easat-6812	88	28	[	[	X
easat-6812	88	29	12	12	NUM
easat-6812	88	30	]	]	PUNCT
easat-6812	88	31	.	.	PUNCT
easat-6812	89	1	in	in	ADP
easat-6812	89	2	manufacturing	manufacture	VERB
easat-6812	89	3	companies	company	NOUN
easat-6812	89	4	,	,	PUNCT
easat-6812	89	5	especially	especially	ADV
easat-6812	89	6	in	in	ADP
easat-6812	89	7	the	the	DET
easat-6812	89	8	noncyclical	noncyclical	ADJ
easat-6812	89	9	consumer	consumer	NOUN
easat-6812	89	10	sector	sector	NOUN
easat-6812	89	11	,	,	PUNCT
easat-6812	89	12	it	it	PRON
easat-6812	89	13	will	will	AUX
easat-6812	89	14	have	have	VERB
easat-6812	89	15	an	an	DET
easat-6812	89	16	impact	impact	NOUN
easat-6812	89	17	because	because	SCONJ
easat-6812	89	18	older	old	ADJ
easat-6812	89	19	companies	company	NOUN
easat-6812	89	20	certainly	certainly	ADV
easat-6812	89	21	have	have	VERB
easat-6812	89	22	much	much	ADJ
easat-6812	89	23	experience	experience	NOUN
easat-6812	89	24	regarding	regard	VERB
easat-6812	89	25	market	market	NOUN
easat-6812	89	26	share	share	NOUN
easat-6812	89	27	,	,	PUNCT
easat-6812	89	28	such	such	ADJ
easat-6812	89	29	as	as	ADP
easat-6812	89	30	types	type	NOUN
easat-6812	89	31	of	of	ADP
easat-6812	89	32	goods	good	NOUN
easat-6812	89	33	or	or	CCONJ
easat-6812	89	34	foods	food	NOUN
easat-6812	89	35	that	that	PRON
easat-6812	89	36	are	be	AUX
easat-6812	89	37	often	often	ADV
easat-6812	89	38	in	in	ADP
easat-6812	89	39	demand	demand	NOUN
easat-6812	89	40	by	by	ADP
easat-6812	89	41	consumers	consumer	NOUN
easat-6812	89	42	,	,	PUNCT
easat-6812	89	43	better	well	ADJ
easat-6812	89	44	packaging	packaging	NOUN
easat-6812	89	45	processes	process	NOUN
easat-6812	89	46	,	,	PUNCT
easat-6812	89	47	and	and	CCONJ
easat-6812	89	48	many	many	ADJ
easat-6812	89	49	other	other	ADJ
easat-6812	89	50	things	thing	NOUN
easat-6812	89	51	that	that	PRON
easat-6812	89	52	can	can	AUX
easat-6812	89	53	increase	increase	VERB
easat-6812	89	54	the	the	DET
easat-6812	89	55	company	company	NOUN
easat-6812	89	56	's	's	PART
easat-6812	89	57	reputation	reputation	NOUN
easat-6812	89	58	.	.	PUNCT
easat-6812	90	1	however	however	ADV
easat-6812	90	2	,	,	PUNCT
easat-6812	90	3	on	on	ADP
easat-6812	90	4	the	the	DET
easat-6812	90	5	other	other	ADJ
easat-6812	90	6	hand	hand	NOUN
easat-6812	90	7	,	,	PUNCT
easat-6812	90	8	younger	young	ADJ
easat-6812	90	9	companies	company	NOUN
easat-6812	90	10	are	be	AUX
easat-6812	90	11	often	often	ADV
easat-6812	90	12	more	more	ADV
easat-6812	90	13	innovative	innovative	ADJ
easat-6812	90	14	and	and	CCONJ
easat-6812	90	15	responsive	responsive	ADJ
easat-6812	90	16	in	in	ADP
easat-6812	90	17	carrying	carry	VERB
easat-6812	90	18	out	out	ADP
easat-6812	90	19	company	company	NOUN
easat-6812	90	20	activities	activity	NOUN
easat-6812	90	21	[	[	X
easat-6812	90	22	12	12	NUM
easat-6812	90	23	]	]	PUNCT
easat-6812	90	24	.	.	PUNCT
easat-6812	91	1	190	190	NUM
easat-6812	91	2	edelweiss	edelweiss	PROPN
easat-6812	91	3	applied	apply	VERB
easat-6812	91	4	science	science	NOUN
easat-6812	91	5	and	and	CCONJ
easat-6812	91	6	technology	technology	NOUN
easat-6812	91	7	issn	issn	PROPN
easat-6812	91	8	:	:	PUNCT
easat-6812	91	9	2576	2576	NUM
easat-6812	91	10	-	-	SYM
easat-6812	91	11	8484	8484	NUM
easat-6812	91	12	vol	vol	NOUN
easat-6812	91	13	.	.	PROPN
easat-6812	92	1	9	9	NUM
easat-6812	92	2	,	,	PUNCT
easat-6812	92	3	no	no	INTJ
easat-6812	92	4	.	.	NOUN
easat-6812	92	5	5	5	NUM
easat-6812	92	6	:	:	PUNCT
easat-6812	92	7	187	187	NUM
easat-6812	92	8	-	-	SYM
easat-6812	92	9	196	196	NUM
easat-6812	92	10	,	,	PUNCT
easat-6812	92	11	2025	2025	NUM
easat-6812	92	12	doi	doi	NOUN
easat-6812	92	13	:	:	PUNCT
easat-6812	92	14	10.55214/25768484.v9i5.6812	10.55214/25768484.v9i5.6812	NOUN
easat-6812	92	15	©	©	PROPN
easat-6812	92	16	2025	2025	NUM
easat-6812	92	17	by	by	ADP
easat-6812	92	18	the	the	DET
easat-6812	92	19	authors	author	NOUN
easat-6812	92	20	;	;	PUNCT
easat-6812	92	21	licensee	licensee	PROPN
easat-6812	92	22	learning	learn	VERB
easat-6812	92	23	gate	gate	NOUN
easat-6812	92	24	referring	refer	VERB
easat-6812	92	25	to	to	ADP
easat-6812	92	26	the	the	DET
easat-6812	92	27	research	research	NOUN
easat-6812	92	28	that	that	PRON
easat-6812	92	29	has	have	AUX
easat-6812	92	30	been	be	AUX
easat-6812	92	31	explained	explain	VERB
easat-6812	92	32	previously	previously	ADV
easat-6812	92	33	,	,	PUNCT
easat-6812	92	34	the	the	DET
easat-6812	92	35	age	age	NOUN
easat-6812	92	36	factor	factor	NOUN
easat-6812	92	37	of	of	ADP
easat-6812	92	38	the	the	DET
easat-6812	92	39	company	company	NOUN
easat-6812	92	40	plays	play	VERB
easat-6812	92	41	a	a	DET
easat-6812	92	42	significant	significant	ADJ
easat-6812	92	43	role	role	NOUN
easat-6812	92	44	in	in	ADP
easat-6812	92	45	determining	determine	VERB
easat-6812	92	46	the	the	DET
easat-6812	92	47	firm	firm	NOUN
easat-6812	92	48	's	's	PART
easat-6812	92	49	performance	performance	NOUN
easat-6812	92	50	,	,	PUNCT
easat-6812	92	51	both	both	CCONJ
easat-6812	92	52	through	through	ADP
easat-6812	92	53	the	the	DET
easat-6812	92	54	experience	experience	NOUN
easat-6812	92	55	of	of	ADP
easat-6812	92	56	the	the	DET
easat-6812	92	57	old	old	ADJ
easat-6812	92	58	company	company	NOUN
easat-6812	92	59	and	and	CCONJ
easat-6812	92	60	the	the	DET
easat-6812	92	61	innovation	innovation	NOUN
easat-6812	92	62	produced	produce	VERB
easat-6812	92	63	by	by	ADP
easat-6812	92	64	the	the	DET
easat-6812	92	65	new	new	ADJ
easat-6812	92	66	company	company	NOUN
easat-6812	92	67	.	.	PUNCT
easat-6812	93	1	therefore	therefore	ADV
easat-6812	93	2	,	,	PUNCT
easat-6812	93	3	this	this	DET
easat-6812	93	4	hypothesis	hypothesis	NOUN
easat-6812	93	5	is	be	AUX
easat-6812	93	6	formulated	formulate	VERB
easat-6812	93	7	by	by	ADP
easat-6812	93	8	considering	consider	VERB
easat-6812	93	9	the	the	DET
easat-6812	93	10	findings	finding	NOUN
easat-6812	93	11	and	and	CCONJ
easat-6812	93	12	perspectives	perspective	NOUN
easat-6812	93	13	presented	present	VERB
easat-6812	93	14	in	in	ADP
easat-6812	93	15	this	this	DET
easat-6812	93	16	paper	paper	NOUN
easat-6812	93	17	,	,	PUNCT
easat-6812	93	18	which	which	PRON
easat-6812	93	19	explains	explain	VERB
easat-6812	93	20	that	that	SCONJ
easat-6812	93	21	the	the	DET
easat-6812	93	22	age	age	NOUN
easat-6812	93	23	of	of	ADP
easat-6812	93	24	the	the	DET
easat-6812	93	25	company	company	NOUN
easat-6812	93	26	can	can	AUX
easat-6812	93	27	have	have	VERB
easat-6812	93	28	a	a	DET
easat-6812	93	29	positive	positive	ADJ
easat-6812	93	30	or	or	CCONJ
easat-6812	93	31	negative	negative	ADJ
easat-6812	93	32	influence	influence	NOUN
easat-6812	93	33	on	on	ADP
easat-6812	93	34	the	the	DET
easat-6812	93	35	firm	firm	NOUN
easat-6812	93	36	's	's	PART
easat-6812	93	37	performance	performance	NOUN
easat-6812	93	38	depending	depend	VERB
easat-6812	93	39	on	on	ADP
easat-6812	93	40	the	the	DET
easat-6812	93	41	context	context	NOUN
easat-6812	93	42	and	and	CCONJ
easat-6812	93	43	industry	industry	NOUN
easat-6812	93	44	.	.	PUNCT
easat-6812	94	1	h3	h3	NOUN
easat-6812	94	2	:	:	PUNCT
easat-6812	94	3	firm	firm	ADJ
easat-6812	94	4	age	age	NOUN
easat-6812	94	5	significantly	significantly	ADV
easat-6812	94	6	negatively	negatively	ADV
easat-6812	94	7	affects	affect	VERB
easat-6812	94	8	firm	firm	ADJ
easat-6812	94	9	performance	performance	NOUN
easat-6812	94	10	.	.	PUNCT
easat-6812	95	1	2.4	2.4	NUM
easat-6812	95	2	.	.	PUNCT
easat-6812	95	3	resource	resource	NOUN
easat-6812	95	4	-	-	PUNCT
easat-6812	95	5	based	base	VERB
easat-6812	95	6	view	view	NOUN
easat-6812	95	7	(	(	PUNCT
easat-6812	95	8	rbv	rbv	NOUN
easat-6812	95	9	)	)	PUNCT
easat-6812	95	10	resource	resource	NOUN
easat-6812	95	11	-	-	PUNCT
easat-6812	95	12	based	base	VERB
easat-6812	95	13	view	view	NOUN
easat-6812	95	14	(	(	PUNCT
easat-6812	95	15	rbv	rbv	NOUN
easat-6812	95	16	)	)	PUNCT
easat-6812	95	17	was	be	AUX
easat-6812	95	18	proposed	propose	VERB
easat-6812	95	19	by	by	ADP
easat-6812	95	20	barney	barney	NOUN
easat-6812	95	21	[	[	X
easat-6812	95	22	13	13	NUM
easat-6812	95	23	]	]	PUNCT
easat-6812	95	24	who	who	PRON
easat-6812	95	25	stated	state	VERB
easat-6812	95	26	that	that	SCONJ
easat-6812	95	27	a	a	DET
easat-6812	95	28	company	company	NOUN
easat-6812	95	29	's	's	PART
easat-6812	95	30	competitive	competitive	ADJ
easat-6812	95	31	advantage	advantage	NOUN
easat-6812	95	32	depends	depend	VERB
easat-6812	95	33	on	on	ADP
easat-6812	95	34	its	its	PRON
easat-6812	95	35	tangible	tangible	ADJ
easat-6812	95	36	and	and	CCONJ
easat-6812	95	37	intangible	intangible	ADJ
easat-6812	95	38	resources	resource	NOUN
easat-6812	95	39	.	.	PUNCT
easat-6812	96	1	companies	company	NOUN
easat-6812	96	2	with	with	ADP
easat-6812	96	3	adequate	adequate	ADJ
easat-6812	96	4	financial	financial	ADJ
easat-6812	96	5	resources	resource	NOUN
easat-6812	96	6	can	can	AUX
easat-6812	96	7	distribute	distribute	VERB
easat-6812	96	8	finances	finance	NOUN
easat-6812	96	9	for	for	ADP
easat-6812	96	10	more	more	ADJ
easat-6812	96	11	strategic	strategic	ADJ
easat-6812	96	12	investments	investment	NOUN
easat-6812	96	13	and	and	CCONJ
easat-6812	96	14	technology	technology	NOUN
easat-6812	96	15	development	development	NOUN
easat-6812	96	16	.	.	PUNCT
easat-6812	97	1	if	if	SCONJ
easat-6812	97	2	the	the	DET
easat-6812	97	3	company	company	NOUN
easat-6812	97	4	faces	face	VERB
easat-6812	97	5	financial	financial	ADJ
easat-6812	97	6	constraints	constraint	NOUN
easat-6812	97	7	,	,	PUNCT
easat-6812	97	8	it	it	PRON
easat-6812	97	9	will	will	AUX
easat-6812	97	10	hinder	hinder	VERB
easat-6812	97	11	investment	investment	NOUN
easat-6812	97	12	in	in	ADP
easat-6812	97	13	digital	digital	ADJ
easat-6812	97	14	technology	technology	NOUN
easat-6812	97	15	and	and	CCONJ
easat-6812	97	16	can	can	AUX
easat-6812	97	17	hurt	hurt	VERB
easat-6812	97	18	firm	firm	ADJ
easat-6812	97	19	performance	performance	NOUN
easat-6812	97	20	.	.	PUNCT
easat-6812	98	1	digital	digital	ADJ
easat-6812	98	2	transformation	transformation	NOUN
easat-6812	98	3	is	be	AUX
easat-6812	98	4	also	also	ADV
easat-6812	98	5	capable	capable	ADJ
easat-6812	98	6	of	of	ADP
easat-6812	98	7	more	more	ADV
easat-6812	98	8	innovative	innovative	ADJ
easat-6812	98	9	operational	operational	ADJ
easat-6812	98	10	efficiency	efficiency	NOUN
easat-6812	98	11	,	,	PUNCT
easat-6812	98	12	thus	thus	ADV
easat-6812	98	13	helping	help	VERB
easat-6812	98	14	to	to	PART
easat-6812	98	15	improve	improve	VERB
easat-6812	98	16	firm	firm	ADJ
easat-6812	98	17	performance	performance	NOUN
easat-6812	98	18	.	.	PUNCT
easat-6812	99	1	in	in	ADP
easat-6812	99	2	addition	addition	NOUN
easat-6812	99	3	,	,	PUNCT
easat-6812	99	4	firm	firm	ADJ
easat-6812	99	5	age	age	NOUN
easat-6812	99	6	describes	describe	VERB
easat-6812	99	7	the	the	DET
easat-6812	99	8	experience	experience	NOUN
easat-6812	99	9	and	and	CCONJ
easat-6812	99	10	reputation	reputation	NOUN
easat-6812	99	11	to	to	PART
easat-6812	99	12	maintain	maintain	VERB
easat-6812	99	13	and	and	CCONJ
easat-6812	99	14	improve	improve	VERB
easat-6812	99	15	firm	firm	ADJ
easat-6812	99	16	performance	performance	NOUN
easat-6812	99	17	.	.	PUNCT
easat-6812	100	1	thus	thus	ADV
easat-6812	100	2	,	,	PUNCT
easat-6812	100	3	rbv	rbv	PROPN
easat-6812	100	4	theory	theory	NOUN
easat-6812	100	5	emphasizes	emphasize	VERB
easat-6812	100	6	the	the	DET
easat-6812	100	7	importance	importance	NOUN
easat-6812	100	8	of	of	ADP
easat-6812	100	9	resources	resource	NOUN
easat-6812	100	10	such	such	ADJ
easat-6812	100	11	as	as	ADP
easat-6812	100	12	financial	financial	ADJ
easat-6812	100	13	capital	capital	NOUN
easat-6812	100	14	,	,	PUNCT
easat-6812	100	15	knowledge	knowledge	NOUN
easat-6812	100	16	,	,	PUNCT
easat-6812	100	17	and	and	CCONJ
easat-6812	100	18	digital	digital	ADJ
easat-6812	100	19	technology	technology	NOUN
easat-6812	100	20	in	in	ADP
easat-6812	100	21	supporting	support	VERB
easat-6812	100	22	improved	improve	VERB
easat-6812	100	23	firm	firm	ADJ
easat-6812	100	24	performance	performance	NOUN
easat-6812	100	25	.	.	PUNCT
easat-6812	101	1	2.5	2.5	NUM
easat-6812	101	2	.	.	PUNCT
easat-6812	102	1	dynamic	dynamic	ADJ
easat-6812	102	2	capabilities	capability	NOUN
easat-6812	102	3	theory	theory	NOUN
easat-6812	102	4	dynamic	dynamic	ADJ
easat-6812	102	5	capabilities	capability	NOUN
easat-6812	102	6	theory	theory	NOUN
easat-6812	102	7	was	be	AUX
easat-6812	102	8	proposed	propose	VERB
easat-6812	102	9	by	by	ADP
easat-6812	102	10	teece	teece	PROPN
easat-6812	102	11	,	,	PUNCT
easat-6812	102	12	et	et	PROPN
easat-6812	102	13	al	al	PROPN
easat-6812	102	14	.	.	PUNCT
easat-6812	103	1	[	[	X
easat-6812	103	2	9	9	NUM
easat-6812	103	3	]	]	PUNCT
easat-6812	103	4	which	which	PRON
easat-6812	103	5	states	state	VERB
easat-6812	103	6	that	that	SCONJ
easat-6812	103	7	companies	company	NOUN
easat-6812	103	8	with	with	ADP
easat-6812	103	9	dynamic	dynamic	ADJ
easat-6812	103	10	capabilities	capability	NOUN
easat-6812	103	11	will	will	AUX
easat-6812	103	12	be	be	AUX
easat-6812	103	13	better	well	ADV
easat-6812	103	14	able	able	ADJ
easat-6812	103	15	to	to	PART
easat-6812	103	16	respond	respond	VERB
easat-6812	103	17	to	to	ADP
easat-6812	103	18	market	market	NOUN
easat-6812	103	19	and	and	CCONJ
easat-6812	103	20	environmental	environmental	ADJ
easat-6812	103	21	changes	change	NOUN
easat-6812	103	22	quickly	quickly	ADV
easat-6812	103	23	.	.	PUNCT
easat-6812	104	1	three	three	NUM
easat-6812	104	2	aspects	aspect	NOUN
easat-6812	104	3	of	of	ADP
easat-6812	104	4	dynamic	dynamic	ADJ
easat-6812	104	5	capabilities	capability	NOUN
easat-6812	104	6	are	be	AUX
easat-6812	104	7	mentioned	mention	VERB
easat-6812	104	8	:	:	PUNCT
easat-6812	104	9	sensing	sense	VERB
easat-6812	104	10	,	,	PUNCT
easat-6812	104	11	seizing	seize	VERB
easat-6812	104	12	,	,	PUNCT
easat-6812	104	13	and	and	CCONJ
easat-6812	104	14	transforming	transform	VERB
easat-6812	104	15	.	.	PUNCT
easat-6812	105	1	through	through	ADP
easat-6812	105	2	digital	digital	ADJ
easat-6812	105	3	transformation	transformation	NOUN
easat-6812	105	4	,	,	PUNCT
easat-6812	105	5	companies	company	NOUN
easat-6812	105	6	can	can	AUX
easat-6812	105	7	detect	detect	VERB
easat-6812	105	8	emerging	emerge	VERB
easat-6812	105	9	opportunities	opportunity	NOUN
easat-6812	105	10	and	and	CCONJ
easat-6812	105	11	challenges	challenge	NOUN
easat-6812	105	12	(	(	PUNCT
easat-6812	105	13	sensing	sense	VERB
easat-6812	105	14	)	)	PUNCT
easat-6812	105	15	,	,	PUNCT
easat-6812	105	16	where	where	SCONJ
easat-6812	105	17	firm	firm	ADJ
easat-6812	105	18	age	age	NOUN
easat-6812	105	19	affects	affect	VERB
easat-6812	105	20	the	the	DET
easat-6812	105	21	response	response	NOUN
easat-6812	105	22	older	old	ADJ
easat-6812	105	23	companies	company	NOUN
easat-6812	105	24	tend	tend	VERB
easat-6812	105	25	to	to	PART
easat-6812	105	26	be	be	AUX
easat-6812	105	27	experienced	experience	VERB
easat-6812	105	28	,	,	PUNCT
easat-6812	105	29	while	while	SCONJ
easat-6812	105	30	younger	young	ADJ
easat-6812	105	31	companies	company	NOUN
easat-6812	105	32	are	be	AUX
easat-6812	105	33	more	more	ADV
easat-6812	105	34	innovative	innovative	ADJ
easat-6812	105	35	.	.	PUNCT
easat-6812	106	1	seizing	seize	VERB
easat-6812	106	2	good	good	ADJ
easat-6812	106	3	financial	financial	ADJ
easat-6812	106	4	access	access	NOUN
easat-6812	106	5	allows	allow	VERB
easat-6812	106	6	companies	company	NOUN
easat-6812	106	7	to	to	PART
easat-6812	106	8	take	take	VERB
easat-6812	106	9	advantage	advantage	NOUN
easat-6812	106	10	of	of	ADP
easat-6812	106	11	opportunities	opportunity	NOUN
easat-6812	106	12	faster	fast	ADV
easat-6812	106	13	,	,	PUNCT
easat-6812	106	14	while	while	SCONJ
easat-6812	106	15	financial	financial	ADJ
easat-6812	106	16	constraints	constraint	NOUN
easat-6812	106	17	encourage	encourage	VERB
easat-6812	106	18	efficiency	efficiency	NOUN
easat-6812	106	19	and	and	CCONJ
easat-6812	106	20	creativity	creativity	NOUN
easat-6812	106	21	.	.	PUNCT
easat-6812	107	1	digital	digital	ADJ
easat-6812	107	2	transformation	transformation	NOUN
easat-6812	107	3	helps	help	VERB
easat-6812	107	4	companies	company	NOUN
easat-6812	107	5	change	change	VERB
easat-6812	107	6	their	their	PRON
easat-6812	107	7	business	business	NOUN
easat-6812	107	8	models	model	NOUN
easat-6812	107	9	to	to	PART
easat-6812	107	10	be	be	AUX
easat-6812	107	11	more	more	ADV
easat-6812	107	12	modern	modern	ADJ
easat-6812	107	13	and	and	CCONJ
easat-6812	107	14	efficient	efficient	ADJ
easat-6812	107	15	(	(	PUNCT
easat-6812	107	16	transforming	transform	VERB
easat-6812	107	17	)	)	PUNCT
easat-6812	107	18	,	,	PUNCT
easat-6812	107	19	thereby	thereby	ADV
easat-6812	107	20	improving	improve	VERB
easat-6812	107	21	performance	performance	NOUN
easat-6812	107	22	and	and	CCONJ
easat-6812	107	23	encouraging	encourage	VERB
easat-6812	107	24	innovation	innovation	NOUN
easat-6812	107	25	.	.	PUNCT
easat-6812	108	1	3	3	X
easat-6812	108	2	.	.	X
easat-6812	108	3	data	datum	NOUN
easat-6812	108	4	and	and	CCONJ
easat-6812	108	5	methodology	methodology	NOUN
easat-6812	108	6	3.1	3.1	NUM
easat-6812	108	7	.	.	PUNCT
easat-6812	109	1	data	datum	NOUN
easat-6812	109	2	sources	source	NOUN
easat-6812	109	3	this	this	DET
easat-6812	109	4	study	study	NOUN
easat-6812	109	5	uses	use	VERB
easat-6812	109	6	a	a	DET
easat-6812	109	7	quantitative	quantitative	ADJ
easat-6812	109	8	method	method	NOUN
easat-6812	109	9	using	use	VERB
easat-6812	109	10	maxqda	maxqda	NOUN
easat-6812	109	11	and	and	CCONJ
easat-6812	109	12	stata	stata	VERB
easat-6812	109	13	software	software	NOUN
easat-6812	109	14	.	.	PUNCT
easat-6812	110	1	we	we	PRON
easat-6812	110	2	take	take	VERB
easat-6812	110	3	data	datum	NOUN
easat-6812	110	4	from	from	ADP
easat-6812	110	5	several	several	ADJ
easat-6812	110	6	sources	source	NOUN
easat-6812	110	7	:	:	PUNCT
easat-6812	110	8	annual	annual	ADJ
easat-6812	110	9	reports	report	NOUN
easat-6812	110	10	,	,	PUNCT
easat-6812	110	11	sustainability	sustainability	NOUN
easat-6812	110	12	reports	report	NOUN
easat-6812	110	13	,	,	PUNCT
easat-6812	110	14	the	the	DET
easat-6812	110	15	official	official	ADJ
easat-6812	110	16	website	website	NOUN
easat-6812	110	17	,	,	PUNCT
easat-6812	110	18	and	and	CCONJ
easat-6812	110	19	refinitiv	refinitiv	PROPN
easat-6812	110	20	.	.	PUNCT
easat-6812	111	1	then	then	ADV
easat-6812	111	2	,	,	PUNCT
easat-6812	111	3	it	it	PRON
easat-6812	111	4	will	will	AUX
easat-6812	111	5	be	be	AUX
easat-6812	111	6	processed	process	VERB
easat-6812	111	7	in	in	ADP
easat-6812	111	8	maxqda	maxqda	NOUN
easat-6812	111	9	to	to	PART
easat-6812	111	10	see	see	VERB
easat-6812	111	11	the	the	DET
easat-6812	111	12	frequency	frequency	NOUN
easat-6812	111	13	of	of	ADP
easat-6812	111	14	keywords	keyword	NOUN
easat-6812	111	15	and	and	CCONJ
easat-6812	111	16	in	in	ADP
easat-6812	111	17	stata	stata	NOUN
easat-6812	111	18	to	to	PART
easat-6812	111	19	test	test	VERB
easat-6812	111	20	the	the	DET
easat-6812	111	21	relationship	relationship	NOUN
easat-6812	111	22	between	between	ADP
easat-6812	111	23	independent	independent	ADJ
easat-6812	111	24	and	and	CCONJ
easat-6812	111	25	dependent	dependent	ADJ
easat-6812	111	26	variables	variable	NOUN
easat-6812	111	27	.	.	PUNCT
easat-6812	112	1	the	the	DET
easat-6812	112	2	data	datum	NOUN
easat-6812	112	3	we	we	PRON
easat-6812	112	4	use	use	VERB
easat-6812	112	5	comes	come	VERB
easat-6812	112	6	from	from	ADP
easat-6812	112	7	the	the	DET
easat-6812	112	8	non	non	ADJ
easat-6812	112	9	-	-	ADJ
easat-6812	112	10	cyclical	cyclical	ADJ
easat-6812	112	11	consumer	consumer	NOUN
easat-6812	112	12	sector	sector	NOUN
easat-6812	112	13	in	in	ADP
easat-6812	112	14	indonesia	indonesia	PROPN
easat-6812	112	15	in	in	ADP
easat-6812	112	16	the	the	DET
easat-6812	112	17	period	period	NOUN
easat-6812	112	18	2019	2019	NUM
easat-6812	112	19	2023	2023	NUM
easat-6812	112	20	.	.	PUNCT
easat-6812	113	1	the	the	DET
easat-6812	113	2	final	final	ADJ
easat-6812	113	3	dataset	dataset	NOUN
easat-6812	113	4	comprises	comprise	VERB
easat-6812	113	5	210	210	NUM
easat-6812	113	6	observations	observation	NOUN
easat-6812	113	7	.	.	PUNCT
easat-6812	114	1	here	here	ADV
easat-6812	114	2	are	be	AUX
easat-6812	114	3	some	some	PRON
easat-6812	114	4	of	of	ADP
easat-6812	114	5	the	the	DET
easat-6812	114	6	company	company	NOUN
easat-6812	114	7	requirements	requirement	VERB
easat-6812	114	8	that	that	SCONJ
easat-6812	114	9	we	we	PRON
easat-6812	114	10	will	will	AUX
easat-6812	114	11	use	use	VERB
easat-6812	114	12	in	in	ADP
easat-6812	114	13	this	this	DET
easat-6812	114	14	study	study	NOUN
easat-6812	114	15	:	:	PUNCT
easat-6812	114	16	table	table	NOUN
easat-6812	114	17	1	1	NUM
easat-6812	114	18	.	.	PUNCT
easat-6812	114	19	sample	sample	NOUN
easat-6812	114	20	of	of	ADP
easat-6812	114	21	observations	observation	NOUN
easat-6812	114	22	.	.	PUNCT
easat-6812	115	1	sample	sample	VERB
easat-6812	115	2	no	no	DET
easat-6812	115	3	listed	list	VERB
easat-6812	115	4	company	company	NOUN
easat-6812	115	5	in	in	ADP
easat-6812	115	6	refinitiv	refinitiv	PROPN
easat-6812	115	7	127	127	NUM
easat-6812	115	8	not	not	PART
easat-6812	115	9	digitally	digitally	ADV
easat-6812	115	10	transformed	transform	VERB
easat-6812	115	11	by	by	ADP
easat-6812	115	12	2019	2019	NUM
easat-6812	115	13	85	85	NUM
easat-6812	115	14	number	number	NOUN
easat-6812	115	15	of	of	ADP
easat-6812	115	16	observed	observed	ADJ
easat-6812	115	17	data	datum	NOUN
easat-6812	115	18	42	42	NUM
easat-6812	115	19	companies	company	NOUN
easat-6812	115	20	for	for	ADP
easat-6812	115	21	the	the	DET
easat-6812	115	22	last	last	ADJ
easat-6812	115	23	5	5	NUM
easat-6812	115	24	years	year	NOUN
easat-6812	115	25	3.2	3.2	NUM
easat-6812	115	26	.	.	PUNCT
easat-6812	116	1	model	model	NOUN
easat-6812	116	2	specification	specification	NOUN
easat-6812	116	3	the	the	DET
easat-6812	116	4	model	model	NOUN
easat-6812	116	5	specification	specification	NOUN
easat-6812	116	6	for	for	ADP
easat-6812	116	7	this	this	DET
easat-6812	116	8	study	study	NOUN
easat-6812	116	9	is	be	AUX
easat-6812	116	10	as	as	SCONJ
easat-6812	116	11	follows	follow	VERB
easat-6812	116	12	:	:	PUNCT
easat-6812	117	1	firmperformanceit	firmperformanceit	NOUN
easat-6812	117	2	=	=	PUNCT
easat-6812	117	3	α	α	PROPN
easat-6812	117	4	+	+	CCONJ
easat-6812	117	5	β1financialconstraintsit	β1financialconstraintsit	NOUN
easat-6812	117	6	+	+	CCONJ
easat-6812	117	7	ϵit	ϵit	PROPN
easat-6812	117	8	(	(	PUNCT
easat-6812	117	9	1	1	NUM
easat-6812	117	10	)	)	PUNCT
easat-6812	117	11	191	191	NUM
easat-6812	117	12	edelweiss	edelweiss	PROPN
easat-6812	117	13	applied	apply	VERB
easat-6812	117	14	science	science	NOUN
easat-6812	117	15	and	and	CCONJ
easat-6812	117	16	technology	technology	NOUN
easat-6812	117	17	issn	issn	PROPN
easat-6812	117	18	:	:	PUNCT
easat-6812	117	19	2576	2576	NUM
easat-6812	117	20	-	-	SYM
easat-6812	117	21	8484	8484	NUM
easat-6812	117	22	vol	vol	NOUN
easat-6812	117	23	.	.	PROPN
easat-6812	118	1	9	9	NUM
easat-6812	118	2	,	,	PUNCT
easat-6812	118	3	no	no	INTJ
easat-6812	118	4	.	.	NOUN
easat-6812	118	5	5	5	NUM
easat-6812	118	6	:	:	PUNCT
easat-6812	118	7	187	187	NUM
easat-6812	118	8	-	-	SYM
easat-6812	118	9	196	196	NUM
easat-6812	118	10	,	,	PUNCT
easat-6812	118	11	2025	2025	NUM
easat-6812	118	12	doi	doi	NOUN
easat-6812	118	13	:	:	PUNCT
easat-6812	118	14	10.55214/25768484.v9i5.6812	10.55214/25768484.v9i5.6812	NOUN
easat-6812	118	15	©	©	PROPN
easat-6812	118	16	2025	2025	NUM
easat-6812	118	17	by	by	ADP
easat-6812	118	18	the	the	DET
easat-6812	118	19	authors	author	NOUN
easat-6812	118	20	;	;	PUNCT
easat-6812	118	21	licensee	licensee	PROPN
easat-6812	118	22	learning	learning	NOUN
easat-6812	118	23	gate	gate	NOUN
easat-6812	118	24	firmperformanceit	firmperformanceit	NOUN
easat-6812	118	25	=	=	PROPN
easat-6812	118	26	α	α	PROPN
easat-6812	119	1	+	+	CCONJ
easat-6812	119	2	β1financialconstraintsit	β1financialconstraintsit	VERB
easat-6812	119	3	+	+	CCONJ
easat-6812	119	4	β2digitaltransformation	β2digitaltransformation	NOUN
easat-6812	119	5	+	+	CCONJ
easat-6812	119	6	ϵit	ϵit	PROPN
easat-6812	119	7	(	(	PUNCT
easat-6812	119	8	2	2	NUM
easat-6812	119	9	)	)	PUNCT
easat-6812	119	10	firmperformanceit	firmperformanceit	NOUN
easat-6812	119	11	=	=	NOUN
easat-6812	119	12	α	α	PROPN
easat-6812	120	1	+	+	CCONJ
easat-6812	120	2	β1firmageit	β1firmageit	PUNCT
easat-6812	121	1	+	+	NUM
easat-6812	121	2	β2firmsize	β2firmsize	NOUN
easat-6812	121	3	+	+	CCONJ
easat-6812	121	4	β3leverage	β3leverage	NOUN
easat-6812	121	5	+	+	X
easat-6812	121	6	β4profitability	β4profitability	NOUN
easat-6812	121	7	+	+	CCONJ
easat-6812	121	8	ϵit	ϵit	NOUN
easat-6812	121	9	(	(	PUNCT
easat-6812	121	10	3	3	NUM
easat-6812	121	11	)	)	PUNCT
easat-6812	121	12	3.3	3.3	NUM
easat-6812	121	13	.	.	PUNCT
easat-6812	122	1	variables	variable	NOUN
easat-6812	122	2	3.3.1	3.3.1	NUM
easat-6812	122	3	.	.	PUNCT
easat-6812	123	1	dependent	dependent	ADJ
easat-6812	123	2	variable	variable	ADJ
easat-6812	123	3	3.3.1.1	3.3.1.1	NUM
easat-6812	123	4	.	.	PUNCT
easat-6812	124	1	firm	firm	ADJ
easat-6812	124	2	performance	performance	NOUN
easat-6812	124	3	(	(	PUNCT
easat-6812	124	4	fp	fp	X
easat-6812	124	5	)	)	PUNCT
easat-6812	124	6	firm	firm	ADJ
easat-6812	124	7	performance	performance	NOUN
easat-6812	124	8	is	be	AUX
easat-6812	124	9	measured	measure	VERB
easat-6812	124	10	using	use	VERB
easat-6812	124	11	tobin	tobin	PROPN
easat-6812	124	12	's	's	PART
easat-6812	124	13	q	q	NOUN
easat-6812	124	14	,	,	PUNCT
easat-6812	124	15	a	a	DET
easat-6812	124	16	widely	widely	ADV
easat-6812	124	17	used	use	VERB
easat-6812	124	18	indicator	indicator	NOUN
easat-6812	124	19	in	in	ADP
easat-6812	124	20	corporate	corporate	ADJ
easat-6812	124	21	finance	finance	NOUN
easat-6812	124	22	that	that	PRON
easat-6812	124	23	compares	compare	VERB
easat-6812	124	24	the	the	DET
easat-6812	124	25	market	market	NOUN
easat-6812	124	26	value	value	NOUN
easat-6812	124	27	of	of	ADP
easat-6812	124	28	a	a	DET
easat-6812	124	29	firm	firm	NOUN
easat-6812	124	30	to	to	ADP
easat-6812	124	31	the	the	DET
easat-6812	124	32	replacement	replacement	NOUN
easat-6812	124	33	cost	cost	NOUN
easat-6812	124	34	of	of	ADP
easat-6812	124	35	its	its	PRON
easat-6812	124	36	assets	asset	NOUN
easat-6812	124	37	.	.	PUNCT
easat-6812	125	1	tobin	tobin	PROPN
easat-6812	125	2	's	's	PART
easat-6812	125	3	q	q	NOUN
easat-6812	125	4	is	be	AUX
easat-6812	125	5	calculated	calculate	VERB
easat-6812	125	6	as	as	ADP
easat-6812	125	7	:	:	PUNCT
easat-6812	125	8	𝑇𝑜𝑏𝑖𝑛′𝑠	𝑇𝑜𝑏𝑖𝑛′𝑠	PUNCT
easat-6812	125	9	𝑄	𝑄	PROPN
easat-6812	125	10	=	=	SYM
easat-6812	125	11	𝑇𝑜𝑡𝑎𝑙	𝑇𝑜𝑡𝑎𝑙	PROPN
easat-6812	125	12	𝑀𝑎𝑟𝑘𝑒𝑡	𝑀𝑎𝑟𝑘𝑒𝑡	PROPN
easat-6812	125	13	𝑉𝑎𝑙𝑢𝑒	𝑉𝑎𝑙𝑢𝑒	PROPN
easat-6812	125	14	+	+	CCONJ
easat-6812	125	15	𝑇𝑜𝑡𝑎𝑙	𝑇𝑜𝑡𝑎𝑙	PROPN
easat-6812	125	16	𝐵𝑜𝑜𝑘	𝐵𝑜𝑜𝑘	PROPN
easat-6812	125	17	𝑉𝑎𝑙𝑢𝑒	𝑉𝑎𝑙𝑢𝑒	PROPN
easat-6812	125	18	𝑜𝑓	𝑜𝑓	ADP
easat-6812	125	19	𝐿𝑖𝑎𝑏𝑖𝑙𝑖𝑡𝑖𝑒𝑠	𝐿𝑖𝑎𝑏𝑖𝑙𝑖𝑡𝑖𝑒𝑠	PROPN
easat-6812	125	20	𝑇𝑜𝑡𝑎𝑙	𝑇𝑜𝑡𝑎𝑙	PROPN
easat-6812	125	21	𝐵𝑜𝑜𝑘	𝐵𝑜𝑜𝑘	PROPN
easat-6812	125	22	𝑉𝑎𝑙𝑢𝑒	𝑉𝑎𝑙𝑢𝑒	PROPN
easat-6812	125	23	𝑜𝑓	𝑜𝑓	ADP
easat-6812	125	24	𝐴𝑠𝑠𝑒𝑡𝑠	𝐴𝑠𝑠𝑒𝑡𝑠	PROPN
easat-6812	125	25	a	a	DET
easat-6812	125	26	q	q	NOUN
easat-6812	125	27	ratio	ratio	NOUN
easat-6812	125	28	greater	great	ADJ
easat-6812	125	29	than	than	ADP
easat-6812	125	30	1	1	NUM
easat-6812	125	31	suggests	suggest	VERB
easat-6812	125	32	the	the	DET
easat-6812	125	33	market	market	NOUN
easat-6812	125	34	highly	highly	ADV
easat-6812	125	35	values	value	VERB
easat-6812	125	36	the	the	DET
easat-6812	125	37	firm	firm	NOUN
easat-6812	125	38	's	's	PART
easat-6812	125	39	assets	asset	NOUN
easat-6812	125	40	,	,	PUNCT
easat-6812	125	41	indicating	indicate	VERB
easat-6812	125	42	good	good	ADJ
easat-6812	125	43	performance	performance	NOUN
easat-6812	125	44	and	and	CCONJ
easat-6812	125	45	growth	growth	NOUN
easat-6812	125	46	prospects	prospect	NOUN
easat-6812	125	47	.	.	PUNCT
easat-6812	126	1	a	a	DET
easat-6812	126	2	ratio	ratio	NOUN
easat-6812	126	3	lower	low	ADJ
easat-6812	126	4	than	than	SCONJ
easat-6812	126	5	one	one	PRON
easat-6812	126	6	could	could	AUX
easat-6812	126	7	imply	imply	VERB
easat-6812	126	8	that	that	SCONJ
easat-6812	126	9	the	the	DET
easat-6812	126	10	firm	firm	NOUN
easat-6812	126	11	's	's	PART
easat-6812	126	12	assets	asset	NOUN
easat-6812	126	13	are	be	AUX
easat-6812	126	14	underperforming	underperform	VERB
easat-6812	126	15	relative	relative	ADV
easat-6812	126	16	to	to	ADP
easat-6812	126	17	market	market	NOUN
easat-6812	126	18	expectations	expectation	NOUN
easat-6812	126	19	.	.	PUNCT
easat-6812	127	1	3.3.2	3.3.2	X
easat-6812	127	2	.	.	PUNCT
easat-6812	128	1	independent	independent	ADJ
easat-6812	128	2	variables	variable	NOUN
easat-6812	128	3	3.3.2.1.financial	3.3.2.1.financial	ADJ
easat-6812	128	4	constraints	constraint	NOUN
easat-6812	128	5	(	(	PUNCT
easat-6812	128	6	fc	fc	X
easat-6812	128	7	)	)	PUNCT
easat-6812	128	8	financial	financial	ADJ
easat-6812	128	9	constraints	constraint	NOUN
easat-6812	128	10	refer	refer	VERB
easat-6812	128	11	to	to	ADP
easat-6812	128	12	the	the	DET
easat-6812	128	13	limitations	limitation	NOUN
easat-6812	128	14	firms	firm	NOUN
easat-6812	128	15	face	face	VERB
easat-6812	128	16	in	in	ADP
easat-6812	128	17	obtaining	obtain	VERB
easat-6812	128	18	external	external	ADJ
easat-6812	128	19	financing	financing	NOUN
easat-6812	128	20	,	,	PUNCT
easat-6812	128	21	which	which	PRON
easat-6812	128	22	affects	affect	VERB
easat-6812	128	23	their	their	PRON
easat-6812	128	24	ability	ability	NOUN
easat-6812	128	25	to	to	PART
easat-6812	128	26	invest	invest	VERB
easat-6812	128	27	in	in	ADP
easat-6812	128	28	growth	growth	NOUN
easat-6812	128	29	opportunities	opportunity	NOUN
easat-6812	128	30	or	or	CCONJ
easat-6812	128	31	digital	digital	ADJ
easat-6812	128	32	innovation	innovation	NOUN
easat-6812	128	33	.	.	PUNCT
easat-6812	129	1	for	for	ADP
easat-6812	129	2	this	this	DET
easat-6812	129	3	study	study	NOUN
easat-6812	129	4	,	,	PUNCT
easat-6812	129	5	financial	financial	ADJ
easat-6812	129	6	constraints	constraint	NOUN
easat-6812	129	7	are	be	AUX
easat-6812	129	8	measured	measure	VERB
easat-6812	129	9	using	use	VERB
easat-6812	129	10	an	an	DET
easat-6812	129	11	index	index	NOUN
easat-6812	129	12	,	,	PUNCT
easat-6812	129	13	such	such	ADJ
easat-6812	129	14	as	as	ADP
easat-6812	129	15	the	the	DET
easat-6812	129	16	sa	sa	PROPN
easat-6812	129	17	index	index	NOUN
easat-6812	129	18	.	.	PUNCT
easat-6812	130	1	this	this	DET
easat-6812	130	2	measurement	measurement	NOUN
easat-6812	130	3	is	be	AUX
easat-6812	130	4	based	base	VERB
easat-6812	130	5	on	on	ADP
easat-6812	130	6	the	the	DET
easat-6812	130	7	method	method	NOUN
easat-6812	130	8	of	of	ADP
easat-6812	130	9	hadlock	hadlock	NOUN
easat-6812	130	10	and	and	CCONJ
easat-6812	130	11	pierce	pierce	PROPN
easat-6812	131	1	[	[	X
easat-6812	131	2	11	11	NUM
easat-6812	131	3	]	]	PUNCT
easat-6812	131	4	who	who	PRON
easat-6812	131	5	argue	argue	VERB
easat-6812	131	6	that	that	SCONJ
easat-6812	131	7	the	the	DET
easat-6812	131	8	measurement	measurement	NOUN
easat-6812	131	9	of	of	ADP
easat-6812	131	10	the	the	DET
easat-6812	131	11	sa	sa	PROPN
easat-6812	131	12	index	index	NOUN
easat-6812	131	13	only	only	ADV
easat-6812	131	14	requires	require	VERB
easat-6812	131	15	firm	firm	ADJ
easat-6812	131	16	size	size	NOUN
easat-6812	131	17	and	and	CCONJ
easat-6812	131	18	firm	firm	ADJ
easat-6812	131	19	age	age	NOUN
easat-6812	131	20	.	.	PUNCT
easat-6812	132	1	in	in	ADP
easat-6812	132	2	addition	addition	NOUN
easat-6812	132	3	,	,	PUNCT
easat-6812	132	4	this	this	DET
easat-6812	132	5	method	method	NOUN
easat-6812	132	6	will	will	AUX
easat-6812	132	7	also	also	ADV
easat-6812	132	8	help	help	VERB
easat-6812	132	9	minimize	minimize	VERB
easat-6812	132	10	endogeneity	endogeneity	NOUN
easat-6812	132	11	problems	problem	NOUN
easat-6812	132	12	.	.	PUNCT
easat-6812	133	1	here	here	ADV
easat-6812	133	2	is	be	AUX
easat-6812	133	3	the	the	DET
easat-6812	133	4	formula	formula	NOUN
easat-6812	133	5	for	for	ADP
easat-6812	133	6	calculating	calculate	VERB
easat-6812	133	7	the	the	DET
easat-6812	133	8	sa	sa	PROPN
easat-6812	133	9	index	index	NOUN
easat-6812	133	10	:	:	PUNCT
easat-6812	133	11	𝑆𝐴	𝑆𝐴	PROPN
easat-6812	133	12	=	=	NOUN
easat-6812	133	13	−0.737	−0.737	NUM
easat-6812	133	14	×	×	NOUN
easat-6812	133	15	𝑆𝑖𝑧𝑒	𝑆𝑖𝑧𝑒	PROPN
easat-6812	133	16	+	+	CCONJ
easat-6812	133	17	0.043	0.043	NUM
easat-6812	133	18	×	×	NOUN
easat-6812	133	19	𝑆𝑖𝑧𝑒2	𝑆𝑖𝑧𝑒2	PROPN
easat-6812	133	20	−	−	PROPN
easat-6812	133	21	0.04	0.04	NUM
easat-6812	133	22	×	×	NOUN
easat-6812	133	23	𝐴𝑔𝑒	𝐴𝑔𝑒	PROPN
easat-6812	133	24	3.3.2.2	3.3.2.2	NUM
easat-6812	133	25	.	.	PUNCT
easat-6812	133	26	firm	firm	ADJ
easat-6812	133	27	age	age	NOUN
easat-6812	133	28	(	(	PUNCT
easat-6812	133	29	fa	fa	NOUN
easat-6812	133	30	)	)	PUNCT
easat-6812	133	31	firm	firm	ADJ
easat-6812	133	32	age	age	NOUN
easat-6812	133	33	is	be	AUX
easat-6812	133	34	an	an	DET
easat-6812	133	35	important	important	ADJ
easat-6812	133	36	factor	factor	NOUN
easat-6812	133	37	reflecting	reflect	VERB
easat-6812	133	38	experience	experience	NOUN
easat-6812	133	39	and	and	CCONJ
easat-6812	133	40	history	history	NOUN
easat-6812	133	41	a	a	DET
easat-6812	133	42	company	company	NOUN
easat-6812	133	43	’s	’s	PART
easat-6812	133	44	.	.	PUNCT
easat-6812	134	1	older	old	ADJ
easat-6812	134	2	firms	firm	NOUN
easat-6812	134	3	are	be	AUX
easat-6812	134	4	generally	generally	ADV
easat-6812	134	5	assumed	assume	VERB
easat-6812	134	6	to	to	PART
easat-6812	134	7	have	have	VERB
easat-6812	134	8	more	more	ADV
easat-6812	134	9	established	establish	VERB
easat-6812	134	10	market	market	NOUN
easat-6812	134	11	reputations	reputation	NOUN
easat-6812	134	12	and	and	CCONJ
easat-6812	134	13	better	well	ADJ
easat-6812	134	14	access	access	NOUN
easat-6812	134	15	to	to	ADP
easat-6812	134	16	financing	financing	NOUN
easat-6812	134	17	.	.	PUNCT
easat-6812	135	1	firm	firm	ADJ
easat-6812	135	2	age	age	NOUN
easat-6812	135	3	is	be	AUX
easat-6812	135	4	typically	typically	ADV
easat-6812	135	5	measured	measure	VERB
easat-6812	135	6	as	as	ADP
easat-6812	135	7	the	the	DET
easat-6812	135	8	number	number	NOUN
easat-6812	135	9	of	of	ADP
easat-6812	135	10	years	year	NOUN
easat-6812	135	11	since	since	SCONJ
easat-6812	135	12	the	the	DET
easat-6812	135	13	firm	firm	NOUN
easat-6812	135	14	was	be	AUX
easat-6812	135	15	founded	found	VERB
easat-6812	135	16	and	and	CCONJ
easat-6812	135	17	the	the	DET
easat-6812	135	18	current	current	ADJ
easat-6812	135	19	year	year	NOUN
easat-6812	135	20	,	,	PUNCT
easat-6812	135	21	serving	serve	VERB
easat-6812	135	22	as	as	ADP
easat-6812	135	23	a	a	DET
easat-6812	135	24	proxy	proxy	NOUN
easat-6812	135	25	for	for	ADP
easat-6812	135	26	the	the	DET
easat-6812	135	27	firm	firm	NOUN
easat-6812	135	28	's	's	PART
easat-6812	135	29	experience	experience	NOUN
easat-6812	135	30	,	,	PUNCT
easat-6812	135	31	resources	resource	NOUN
easat-6812	135	32	,	,	PUNCT
easat-6812	135	33	and	and	CCONJ
easat-6812	135	34	institutional	institutional	ADJ
easat-6812	135	35	memory	memory	NOUN
easat-6812	135	36	.	.	PUNCT
easat-6812	136	1	3.3.3	3.3.3	X
easat-6812	136	2	.	.	PUNCT
easat-6812	137	1	mediating	mediate	VERB
easat-6812	137	2	variable	variable	NOUN
easat-6812	137	3	3.3.3.1	3.3.3.1	NUM
easat-6812	137	4	.	.	PUNCT
easat-6812	137	5	digital	digital	ADJ
easat-6812	137	6	transformation	transformation	NOUN
easat-6812	137	7	(	(	PUNCT
easat-6812	137	8	dt	dt	NOUN
easat-6812	137	9	)	)	PUNCT
easat-6812	137	10	digital	digital	ADJ
easat-6812	137	11	transformation	transformation	NOUN
easat-6812	137	12	represents	represent	VERB
easat-6812	137	13	how	how	SCONJ
easat-6812	137	14	firms	firm	NOUN
easat-6812	137	15	adopt	adopt	VERB
easat-6812	137	16	and	and	CCONJ
easat-6812	137	17	integrate	integrate	VERB
easat-6812	137	18	digital	digital	ADJ
easat-6812	137	19	technologies	technology	NOUN
easat-6812	137	20	in	in	ADP
easat-6812	137	21	their	their	PRON
easat-6812	137	22	operations	operation	NOUN
easat-6812	137	23	.	.	PUNCT
easat-6812	138	1	for	for	ADP
easat-6812	138	2	this	this	DET
easat-6812	138	3	study	study	NOUN
easat-6812	138	4	,	,	PUNCT
easat-6812	138	5	digital	digital	ADJ
easat-6812	138	6	transformation	transformation	NOUN
easat-6812	138	7	is	be	AUX
easat-6812	138	8	measured	measure	VERB
easat-6812	138	9	using	use	VERB
easat-6812	138	10	the	the	DET
easat-6812	138	11	frequency	frequency	NOUN
easat-6812	138	12	of	of	ADP
easat-6812	138	13	digital	digital	ADJ
easat-6812	138	14	-	-	PUNCT
easat-6812	138	15	related	relate	VERB
easat-6812	138	16	keywords	keyword	NOUN
easat-6812	138	17	found	find	VERB
easat-6812	138	18	in	in	ADP
easat-6812	138	19	the	the	DET
easat-6812	138	20	firm	firm	NOUN
easat-6812	138	21	’s	’s	PART
easat-6812	138	22	annual	annual	ADJ
easat-6812	138	23	reports	report	NOUN
easat-6812	138	24	or	or	CCONJ
easat-6812	138	25	digital	digital	ADJ
easat-6812	138	26	presence	presence	NOUN
easat-6812	138	27	(	(	PUNCT
easat-6812	138	28	such	such	ADJ
easat-6812	138	29	as	as	ADP
easat-6812	138	30	websites	website	NOUN
easat-6812	138	31	,	,	PUNCT
easat-6812	138	32	social	social	ADJ
easat-6812	138	33	media	medium	NOUN
easat-6812	138	34	platforms	platform	NOUN
easat-6812	138	35	,	,	PUNCT
easat-6812	138	36	etc	etc	X
easat-6812	138	37	)	)	PUNCT
easat-6812	138	38	.	.	PUNCT
easat-6812	139	1	the	the	DET
easat-6812	139	2	more	more	ADV
easat-6812	139	3	frequently	frequently	ADV
easat-6812	139	4	these	these	DET
easat-6812	139	5	digital	digital	ADJ
easat-6812	139	6	keywords	keyword	NOUN
easat-6812	139	7	appear	appear	VERB
easat-6812	139	8	,	,	PUNCT
easat-6812	139	9	the	the	PRON
easat-6812	139	10	higher	high	ADJ
easat-6812	139	11	the	the	DET
easat-6812	139	12	degree	degree	NOUN
easat-6812	139	13	of	of	ADP
easat-6812	139	14	digital	digital	ADJ
easat-6812	139	15	transformation	transformation	NOUN
easat-6812	139	16	.	.	PUNCT
easat-6812	140	1	this	this	DET
easat-6812	140	2	variable	variable	ADJ
easat-6812	140	3	acts	act	VERB
easat-6812	140	4	as	as	ADP
easat-6812	140	5	a	a	DET
easat-6812	140	6	mediator	mediator	NOUN
easat-6812	140	7	,	,	PUNCT
easat-6812	140	8	exploring	explore	VERB
easat-6812	140	9	how	how	SCONJ
easat-6812	140	10	financial	financial	ADJ
easat-6812	140	11	constraints	constraint	NOUN
easat-6812	140	12	and	and	CCONJ
easat-6812	140	13	firm	firm	ADJ
easat-6812	140	14	age	age	NOUN
easat-6812	140	15	affect	affect	VERB
easat-6812	140	16	firm	firm	ADJ
easat-6812	140	17	performance	performance	NOUN
easat-6812	140	18	through	through	ADP
easat-6812	140	19	the	the	DET
easat-6812	140	20	intermediary	intermediary	NOUN
easat-6812	140	21	of	of	ADP
easat-6812	140	22	technological	technological	ADJ
easat-6812	140	23	adaptation	adaptation	NOUN
easat-6812	140	24	.	.	PUNCT
easat-6812	141	1	3.3.4	3.3.4	X
easat-6812	141	2	.	.	PUNCT
easat-6812	142	1	control	control	NOUN
easat-6812	142	2	variables	variable	NOUN
easat-6812	142	3	3.3.4.1	3.3.4.1	NUM
easat-6812	142	4	.	.	PUNCT
easat-6812	142	5	firm	firm	ADJ
easat-6812	142	6	size	size	NOUN
easat-6812	142	7	firm	firm	NOUN
easat-6812	142	8	size	size	NOUN
easat-6812	142	9	is	be	AUX
easat-6812	142	10	a	a	DET
easat-6812	142	11	control	control	NOUN
easat-6812	142	12	variable	variable	NOUN
easat-6812	142	13	that	that	PRON
easat-6812	142	14	takes	take	VERB
easat-6812	142	15	into	into	ADP
easat-6812	142	16	account	account	NOUN
easat-6812	142	17	the	the	DET
easat-6812	142	18	effect	effect	NOUN
easat-6812	142	19	of	of	ADP
easat-6812	142	20	the	the	DET
easat-6812	142	21	scale	scale	NOUN
easat-6812	142	22	of	of	ADP
easat-6812	142	23	operations	operation	NOUN
easat-6812	142	24	on	on	ADP
easat-6812	142	25	performance	performance	NOUN
easat-6812	142	26	.	.	PUNCT
easat-6812	143	1	larger	large	ADJ
easat-6812	143	2	firms	firm	NOUN
easat-6812	143	3	may	may	AUX
easat-6812	143	4	have	have	VERB
easat-6812	143	5	better	well	ADJ
easat-6812	143	6	access	access	NOUN
easat-6812	143	7	to	to	ADP
easat-6812	143	8	resources	resource	NOUN
easat-6812	143	9	,	,	PUNCT
easat-6812	143	10	economies	economy	NOUN
easat-6812	143	11	of	of	ADP
easat-6812	143	12	scale	scale	NOUN
easat-6812	143	13	,	,	PUNCT
easat-6812	143	14	and	and	CCONJ
easat-6812	143	15	diversification	diversification	NOUN
easat-6812	143	16	.	.	PUNCT
easat-6812	144	1	total	total	ADJ
easat-6812	144	2	assets	asset	NOUN
easat-6812	144	3	usually	usually	ADV
easat-6812	144	4	measure	measure	VERB
easat-6812	144	5	firm	firm	ADJ
easat-6812	144	6	size	size	NOUN
easat-6812	144	7	.	.	PUNCT
easat-6812	145	1	192	192	NUM
easat-6812	145	2	edelweiss	edelweiss	PROPN
easat-6812	145	3	applied	apply	VERB
easat-6812	145	4	science	science	NOUN
easat-6812	145	5	and	and	CCONJ
easat-6812	145	6	technology	technology	NOUN
easat-6812	145	7	issn	issn	PROPN
easat-6812	145	8	:	:	PUNCT
easat-6812	145	9	2576	2576	NUM
easat-6812	145	10	-	-	SYM
easat-6812	145	11	8484	8484	NUM
easat-6812	145	12	vol	vol	NOUN
easat-6812	145	13	.	.	PROPN
easat-6812	146	1	9	9	NUM
easat-6812	146	2	,	,	PUNCT
easat-6812	146	3	no	no	INTJ
easat-6812	146	4	.	.	NOUN
easat-6812	146	5	5	5	NUM
easat-6812	146	6	:	:	PUNCT
easat-6812	146	7	187	187	NUM
easat-6812	146	8	-	-	SYM
easat-6812	146	9	196	196	NUM
easat-6812	146	10	,	,	PUNCT
easat-6812	146	11	2025	2025	NUM
easat-6812	146	12	doi	doi	NOUN
easat-6812	146	13	:	:	PUNCT
easat-6812	146	14	10.55214/25768484.v9i5.6812	10.55214/25768484.v9i5.6812	NOUN
easat-6812	146	15	©	©	PROPN
easat-6812	146	16	2025	2025	NUM
easat-6812	146	17	by	by	ADP
easat-6812	146	18	the	the	DET
easat-6812	146	19	authors	author	NOUN
easat-6812	146	20	;	;	PUNCT
easat-6812	146	21	licensee	licensee	NOUN
easat-6812	146	22	learning	learn	VERB
easat-6812	146	23	gate	gate	VERB
easat-6812	146	24	3.3.4.2	3.3.4.2	NUM
easat-6812	146	25	.	.	PUNCT
easat-6812	147	1	profitability	profitability	NOUN
easat-6812	147	2	the	the	DET
easat-6812	147	3	control	control	NOUN
easat-6812	147	4	variable	variable	NOUN
easat-6812	147	5	,	,	PUNCT
easat-6812	147	6	called	call	VERB
easat-6812	147	7	profitability	profitability	NOUN
easat-6812	147	8	,	,	PUNCT
easat-6812	147	9	measures	measure	VERB
easat-6812	147	10	how	how	SCONJ
easat-6812	147	11	well	well	ADV
easat-6812	147	12	a	a	DET
easat-6812	147	13	company	company	NOUN
easat-6812	147	14	makes	make	VERB
easat-6812	147	15	money	money	NOUN
easat-6812	147	16	concerning	concern	VERB
easat-6812	147	17	its	its	PRON
easat-6812	147	18	equity	equity	NOUN
easat-6812	147	19	.	.	PUNCT
easat-6812	148	1	the	the	DET
easat-6812	148	2	return	return	NOUN
easat-6812	148	3	on	on	ADP
easat-6812	148	4	equity	equity	NOUN
easat-6812	148	5	(	(	PUNCT
easat-6812	148	6	roe	roe	PROPN
easat-6812	148	7	)	)	PUNCT
easat-6812	148	8	ratio	ratio	NOUN
easat-6812	148	9	is	be	AUX
easat-6812	148	10	used	use	VERB
easat-6812	148	11	to	to	PART
easat-6812	148	12	measure	measure	VERB
easat-6812	148	13	profitability	profitability	NOUN
easat-6812	148	14	.	.	PUNCT
easat-6812	149	1	regardless	regardless	ADV
easat-6812	149	2	of	of	ADP
easat-6812	149	3	other	other	ADJ
easat-6812	149	4	factors	factor	NOUN
easat-6812	149	5	,	,	PUNCT
easat-6812	149	6	a	a	DET
easat-6812	149	7	higher	high	ADJ
easat-6812	149	8	roe	roe	NOUN
easat-6812	149	9	indicates	indicate	VERB
easat-6812	149	10	greater	great	ADJ
easat-6812	149	11	profitability	profitability	NOUN
easat-6812	149	12	.	.	PUNCT
easat-6812	150	1	this	this	PRON
easat-6812	150	2	means	mean	VERB
easat-6812	150	3	that	that	SCONJ
easat-6812	150	4	there	there	PRON
easat-6812	150	5	is	be	VERB
easat-6812	150	6	efficient	efficient	ADJ
easat-6812	150	7	management	management	NOUN
easat-6812	150	8	in	in	ADP
easat-6812	150	9	using	use	VERB
easat-6812	150	10	shareholder	shareholder	NOUN
easat-6812	150	11	equity	equity	NOUN
easat-6812	150	12	to	to	PART
easat-6812	150	13	generate	generate	VERB
easat-6812	150	14	profits	profit	NOUN
easat-6812	150	15	and	and	CCONJ
easat-6812	150	16	affect	affect	VERB
easat-6812	150	17	business	business	NOUN
easat-6812	150	18	performance	performance	NOUN
easat-6812	150	19	.	.	PUNCT
easat-6812	151	1	3.3.4.3	3.3.4.3	NUM
easat-6812	151	2	.	.	NOUN
easat-6812	151	3	leverage	leverage	NOUN
easat-6812	151	4	the	the	DET
easat-6812	151	5	percentage	percentage	NOUN
easat-6812	151	6	of	of	ADP
easat-6812	151	7	a	a	DET
easat-6812	151	8	company	company	NOUN
easat-6812	151	9	's	's	PART
easat-6812	151	10	capital	capital	NOUN
easat-6812	151	11	that	that	PRON
easat-6812	151	12	comes	come	VERB
easat-6812	151	13	from	from	ADP
easat-6812	151	14	debt	debt	NOUN
easat-6812	151	15	is	be	AUX
easat-6812	151	16	known	know	VERB
easat-6812	151	17	as	as	ADP
easat-6812	151	18	leverage	leverage	NOUN
easat-6812	151	19	,	,	PUNCT
easat-6812	151	20	which	which	PRON
easat-6812	151	21	will	will	AUX
easat-6812	151	22	impact	impact	VERB
easat-6812	151	23	the	the	DET
easat-6812	151	24	risk	risk	NOUN
easat-6812	151	25	and	and	CCONJ
easat-6812	151	26	growth	growth	NOUN
easat-6812	151	27	potential	potential	NOUN
easat-6812	151	28	of	of	ADP
easat-6812	151	29	the	the	DET
easat-6812	151	30	business	business	NOUN
easat-6812	151	31	.	.	PUNCT
easat-6812	152	1	uncontrolled	uncontrolled	ADJ
easat-6812	152	2	leverage	leverage	NOUN
easat-6812	152	3	can	can	AUX
easat-6812	152	4	increase	increase	VERB
easat-6812	152	5	losses	loss	NOUN
easat-6812	152	6	or	or	CCONJ
easat-6812	152	7	increase	increase	VERB
easat-6812	152	8	profits	profit	NOUN
easat-6812	152	9	.	.	PUNCT
easat-6812	153	1	the	the	DET
easat-6812	153	2	debt	debt	NOUN
easat-6812	153	3	to	to	ADP
easat-6812	153	4	asset	asset	NOUN
easat-6812	153	5	ratio	ratio	NOUN
easat-6812	153	6	(	(	PUNCT
easat-6812	153	7	dar	dar	NOUN
easat-6812	153	8	)	)	PUNCT
easat-6812	153	9	is	be	AUX
easat-6812	153	10	used	use	VERB
easat-6812	153	11	to	to	PART
easat-6812	153	12	measure	measure	VERB
easat-6812	153	13	leverage	leverage	NOUN
easat-6812	153	14	.	.	PUNCT
easat-6812	154	1	this	this	DET
easat-6812	154	2	ratio	ratio	NOUN
easat-6812	154	3	provides	provide	VERB
easat-6812	154	4	an	an	DET
easat-6812	154	5	overview	overview	NOUN
easat-6812	154	6	of	of	ADP
easat-6812	154	7	how	how	SCONJ
easat-6812	154	8	much	much	ADJ
easat-6812	154	9	debt	debt	NOUN
easat-6812	154	10	a	a	DET
easat-6812	154	11	business	business	NOUN
easat-6812	154	12	has	have	AUX
easat-6812	154	13	concerning	concern	VERB
easat-6812	154	14	its	its	PRON
easat-6812	154	15	total	total	ADJ
easat-6812	154	16	assets	asset	NOUN
easat-6812	154	17	.	.	PUNCT
easat-6812	155	1	4	4	X
easat-6812	155	2	.	.	NOUN
easat-6812	155	3	result	result	NOUN
easat-6812	155	4	and	and	CCONJ
easat-6812	155	5	disscusion	disscusion	NOUN
easat-6812	155	6	table	table	NOUN
easat-6812	155	7	2	2	NUM
easat-6812	155	8	.	.	PUNCT
easat-6812	155	9	variable	variable	ADJ
easat-6812	155	10	definition	definition	NOUN
easat-6812	155	11	variable	variable	ADJ
easat-6812	155	12	definition	definition	NOUN
easat-6812	155	13	category	category	NOUN
easat-6812	155	14	variables	variable	VERB
easat-6812	155	15	definition	definition	NOUN
easat-6812	155	16	independent	independent	ADJ
easat-6812	155	17	variable	variable	ADJ
easat-6812	155	18	financial	financial	ADJ
easat-6812	155	19	constraints	constraint	NOUN
easat-6812	155	20	sa	sa	PROPN
easat-6812	155	21	index	index	NOUN
easat-6812	155	22	firm	firm	NOUN
easat-6812	155	23	age	age	NOUN
easat-6812	155	24	current	current	ADJ
easat-6812	155	25	year	year	NOUN
easat-6812	155	26	founding	founding	NOUN
easat-6812	155	27	year	year	NOUN
easat-6812	155	28	dependent	dependent	ADJ
easat-6812	155	29	variable	variable	ADJ
easat-6812	155	30	firm	firm	NOUN
easat-6812	155	31	performance	performance	NOUN
easat-6812	155	32	tobin	tobin	NOUN
easat-6812	155	33	's	's	PART
easat-6812	155	34	q	q	NOUN
easat-6812	155	35	mediating	mediate	VERB
easat-6812	155	36	variable	variable	ADJ
easat-6812	155	37	digital	digital	ADJ
easat-6812	155	38	transformation	transformation	NOUN
easat-6812	155	39	logarithm	logarithm	NOUN
easat-6812	155	40	of	of	ADP
easat-6812	155	41	the	the	DET
easat-6812	155	42	total	total	ADJ
easat-6812	155	43	frequency	frequency	NOUN
easat-6812	155	44	of	of	ADP
easat-6812	155	45	digital	digital	ADJ
easat-6812	155	46	transformation	transformation	NOUN
easat-6812	155	47	keywords	keyword	NOUN
easat-6812	155	48	plus	plus	CCONJ
easat-6812	155	49	1	1	NUM
easat-6812	155	50	control	control	NOUN
easat-6812	155	51	variable	variable	ADJ
easat-6812	155	52	firm	firm	ADJ
easat-6812	155	53	size	size	NOUN
easat-6812	155	54	total	total	ADJ
easat-6812	155	55	asset	asset	NOUN
easat-6812	155	56	leverage	leverage	NOUN
easat-6812	155	57	debt	debt	NOUN
easat-6812	155	58	asset	asset	NOUN
easat-6812	155	59	to	to	ADP
easat-6812	155	60	ratio	ratio	NOUN
easat-6812	155	61	(	(	PUNCT
easat-6812	155	62	dar	dar	NOUN
easat-6812	155	63	)	)	PUNCT
easat-6812	155	64	profitability	profitability	NOUN
easat-6812	155	65	return	return	NOUN
easat-6812	155	66	on	on	ADP
easat-6812	155	67	equity	equity	NOUN
easat-6812	155	68	(	(	PUNCT
easat-6812	155	69	roe	roe	PROPN
easat-6812	155	70	)	)	PUNCT
easat-6812	155	71	this	this	DET
easat-6812	155	72	section	section	NOUN
easat-6812	155	73	presents	present	VERB
easat-6812	155	74	statistical	statistical	ADJ
easat-6812	155	75	data	datum	NOUN
easat-6812	155	76	from	from	ADP
easat-6812	155	77	the	the	DET
easat-6812	155	78	research	research	NOUN
easat-6812	155	79	conducted	conduct	VERB
easat-6812	155	80	,	,	PUNCT
easat-6812	155	81	including	include	VERB
easat-6812	155	82	:	:	PUNCT
easat-6812	155	83	table	table	NOUN
easat-6812	155	84	3	3	PROPN
easat-6812	155	85	.	.	PUNCT
easat-6812	156	1	summary	summary	NOUN
easat-6812	156	2	statistics	statistic	NOUN
easat-6812	156	3	of	of	ADP
easat-6812	156	4	digital	digital	ADJ
easat-6812	156	5	transformation	transformation	NOUN
easat-6812	156	6	.	.	PUNCT
easat-6812	157	1	keyword	keyword	NOUN
easat-6812	157	2	search	search	NOUN
easat-6812	157	3	item	item	NOUN
easat-6812	157	4	key	key	NOUN
easat-6812	157	5	technologies	technology	NOUN
easat-6812	157	6	four	four	NUM
easat-6812	157	7	dimensions	dimension	NOUN
easat-6812	157	8	digitalization	digitalization	NOUN
easat-6812	157	9	iot	iot	NOUN
easat-6812	157	10	6	6	NUM
easat-6812	157	11	digital	digital	ADJ
easat-6812	157	12	strategy	strategy	NOUN
easat-6812	157	13	641	641	NUM
easat-6812	157	14	digital	digital	ADJ
easat-6812	157	15	5468	5468	NUM
easat-6812	157	16	teknologi	teknologi	PROPN
easat-6812	157	17	3446	3446	NUM
easat-6812	157	18	digital	digital	ADJ
easat-6812	157	19	applications	application	NOUN
easat-6812	157	20	36	36	NUM
easat-6812	157	21	digitalisasi	digitalisasi	NOUN
easat-6812	157	22	629	629	NUM
easat-6812	157	23	artificial	artificial	ADJ
easat-6812	157	24	intelligence	intelligence	NOUN
easat-6812	157	25	39	39	NUM
easat-6812	157	26	digital	digital	ADJ
easat-6812	157	27	technologies	technology	NOUN
easat-6812	157	28	138	138	NUM
easat-6812	157	29	software	software	NOUN
easat-6812	157	30	291	291	NUM
easat-6812	157	31	robotic	robotic	ADJ
easat-6812	157	32	38	38	NUM
easat-6812	157	33	digital	digital	ADJ
easat-6812	157	34	transformation	transformation	NOUN
easat-6812	157	35	139	139	NUM
easat-6812	157	36	hardware	hardware	NOUN
easat-6812	157	37	135	135	NUM
easat-6812	157	38	cloud	cloud	ADJ
easat-6812	157	39	132	132	NUM
easat-6812	157	40	applications	application	NOUN
easat-6812	157	41	127	127	NUM
easat-6812	157	42	big	big	ADJ
easat-6812	157	43	data	datum	NOUN
easat-6812	157	44	40	40	NUM
easat-6812	157	45	strategy	strategy	NOUN
easat-6812	157	46	754	754	NUM
easat-6812	157	47	table	table	NOUN
easat-6812	157	48	4	4	NUM
easat-6812	157	49	.	.	PUNCT
easat-6812	157	50	descriptive	descriptive	ADJ
easat-6812	157	51	statistics	statistic	NOUN
easat-6812	157	52	.	.	PUNCT
easat-6812	158	1	summarize	summarize	VERB
easat-6812	158	2	financial	financial	ADJ
easat-6812	158	3	constraints	constraint	NOUN
easat-6812	158	4	,	,	PUNCT
easat-6812	158	5	firm	firm	ADJ
easat-6812	158	6	age	age	NOUN
easat-6812	158	7	,	,	PUNCT
easat-6812	158	8	firm	firm	ADJ
easat-6812	158	9	performance	performance	NOUN
easat-6812	158	10	,	,	PUNCT
easat-6812	158	11	digital	digital	ADJ
easat-6812	158	12	transformation	transformation	NOUN
easat-6812	158	13	,	,	PUNCT
easat-6812	158	14	firm	firm	ADJ
easat-6812	158	15	size	size	NOUN
easat-6812	158	16	,	,	PUNCT
easat-6812	158	17	leverage	leverage	NOUN
easat-6812	158	18	,	,	PUNCT
easat-6812	158	19	profitability	profitability	NOUN
easat-6812	158	20	variables	variable	NOUN
easat-6812	158	21	observations	observation	NOUN
easat-6812	158	22	mean	mean	VERB
easat-6812	158	23	sd	sd	ADP
easat-6812	158	24	min	min	PROPN
easat-6812	158	25	.	.	PROPN
easat-6812	158	26	max	max	PROPN
easat-6812	158	27	.	.	PUNCT
easat-6812	159	1	financial	financial	ADJ
easat-6812	159	2	constraints	constraint	NOUN
easat-6812	159	3	210	210	NUM
easat-6812	159	4	556,679	556,679	NUM
easat-6812	159	5	526,062	526,062	NUM
easat-6812	159	6	-5,23	-5,23	NOUN
easat-6812	160	1	1740,17	1740,17	NUM
easat-6812	160	2	firm	firm	ADJ
easat-6812	160	3	age	age	NOUN
easat-6812	160	4	210	210	NUM
easat-6812	160	5	54,738	54,738	NUM
easat-6812	160	6	25,824	25,824	NUM
easat-6812	160	7	17	17	NUM
easat-6812	160	8	118	118	NUM
easat-6812	160	9	firm	firm	ADJ
easat-6812	160	10	performance	performance	NOUN
easat-6812	160	11	210	210	NUM
easat-6812	160	12	5,966	5,966	NUM
easat-6812	160	13	18,615	18,615	NUM
easat-6812	160	14	0,235	0,235	NUM
easat-6812	160	15	203	203	NUM
easat-6812	160	16	digital	digital	ADJ
easat-6812	160	17	transformation	transformation	NOUN
easat-6812	160	18	210	210	NUM
easat-6812	160	19	6,052	6,052	NUM
easat-6812	160	20	2,922	2,922	NUM
easat-6812	160	21	1	1	NUM
easat-6812	160	22	18	18	NUM
easat-6812	160	23	firm	firm	ADJ
easat-6812	160	24	size	size	NOUN
easat-6812	160	25	210	210	NUM
easat-6812	160	26	105,5	105,5	NUM
easat-6812	160	27	60,766	60,766	NUM
easat-6812	160	28	1	1	NUM
easat-6812	160	29	210	210	NUM
easat-6812	160	30	leverage	leverage	NOUN
easat-6812	160	31	210	210	NUM
easat-6812	160	32	33,610	33,610	NUM
easat-6812	160	33	19,082	19,082	NUM
easat-6812	160	34	1	1	NUM
easat-6812	160	35	76	76	NUM
easat-6812	160	36	profitability	profitability	NOUN
easat-6812	160	37	210	210	NUM
easat-6812	160	38	85,229	85,229	NUM
easat-6812	160	39	46,837	46,837	NUM
easat-6812	160	40	1	1	NUM
easat-6812	160	41	171	171	NUM
easat-6812	160	42	based	base	VERB
easat-6812	160	43	on	on	ADP
easat-6812	160	44	descriptive	descriptive	ADJ
easat-6812	160	45	statistics	statistic	NOUN
easat-6812	160	46	,	,	PUNCT
easat-6812	160	47	financial	financial	ADJ
easat-6812	160	48	constraints	constraint	NOUN
easat-6812	160	49	have	have	VERB
easat-6812	160	50	an	an	DET
easat-6812	160	51	average	average	NOUN
easat-6812	160	52	of	of	ADP
easat-6812	160	53	556.68	556.68	NUM
easat-6812	160	54	with	with	ADP
easat-6812	160	55	significant	significant	ADJ
easat-6812	160	56	variations	variation	NOUN
easat-6812	160	57	,	,	PUNCT
easat-6812	160	58	while	while	SCONJ
easat-6812	160	59	the	the	DET
easat-6812	160	60	average	average	ADJ
easat-6812	160	61	firm	firm	ADJ
easat-6812	160	62	age	age	NOUN
easat-6812	160	63	is	be	AUX
easat-6812	160	64	54.74	54.74	NUM
easat-6812	160	65	years	year	NOUN
easat-6812	160	66	with	with	ADP
easat-6812	160	67	a	a	DET
easat-6812	160	68	range	range	NOUN
easat-6812	160	69	of	of	ADP
easat-6812	160	70	17	17	NUM
easat-6812	160	71	-	-	SYM
easat-6812	160	72	118	118	NUM
easat-6812	160	73	years	year	NOUN
easat-6812	160	74	.	.	PUNCT
easat-6812	161	1	firm	firm	ADJ
easat-6812	161	2	performance	performance	NOUN
easat-6812	161	3	193	193	NUM
easat-6812	161	4	edelweiss	edelweiss	PROPN
easat-6812	161	5	applied	apply	VERB
easat-6812	161	6	science	science	NOUN
easat-6812	161	7	and	and	CCONJ
easat-6812	161	8	technology	technology	NOUN
easat-6812	161	9	issn	issn	PROPN
easat-6812	161	10	:	:	PUNCT
easat-6812	161	11	2576	2576	NUM
easat-6812	161	12	-	-	SYM
easat-6812	161	13	8484	8484	NUM
easat-6812	161	14	vol	vol	NOUN
easat-6812	161	15	.	.	PROPN
easat-6812	162	1	9	9	NUM
easat-6812	162	2	,	,	PUNCT
easat-6812	162	3	no	no	INTJ
easat-6812	162	4	.	.	NOUN
easat-6812	162	5	5	5	NUM
easat-6812	162	6	:	:	PUNCT
easat-6812	162	7	187	187	NUM
easat-6812	162	8	-	-	SYM
easat-6812	162	9	196	196	NUM
easat-6812	162	10	,	,	PUNCT
easat-6812	162	11	2025	2025	NUM
easat-6812	162	12	doi	doi	NOUN
easat-6812	162	13	:	:	PUNCT
easat-6812	162	14	10.55214/25768484.v9i5.6812	10.55214/25768484.v9i5.6812	NOUN
easat-6812	162	15	©	©	PROPN
easat-6812	162	16	2025	2025	NUM
easat-6812	162	17	by	by	ADP
easat-6812	162	18	the	the	DET
easat-6812	162	19	authors	author	NOUN
easat-6812	162	20	;	;	PUNCT
easat-6812	162	21	licensee	licensee	PROPN
easat-6812	162	22	learning	learn	VERB
easat-6812	162	23	gate	gate	PROPN
easat-6812	162	24	averages	average	NOUN
easat-6812	162	25	5.97	5.97	NUM
easat-6812	162	26	,	,	PUNCT
easat-6812	162	27	indicating	indicate	VERB
easat-6812	162	28	high	high	ADJ
easat-6812	162	29	-	-	PUNCT
easat-6812	162	30	performance	performance	NOUN
easat-6812	162	31	disparities	disparity	NOUN
easat-6812	162	32	.	.	PUNCT
easat-6812	163	1	digital	digital	ADJ
easat-6812	163	2	transformation	transformation	NOUN
easat-6812	163	3	averages	average	NOUN
easat-6812	163	4	6.05	6.05	NUM
easat-6812	163	5	,	,	PUNCT
easat-6812	163	6	reflecting	reflect	VERB
easat-6812	163	7	varying	vary	VERB
easat-6812	163	8	technology	technology	NOUN
easat-6812	163	9	adoption	adoption	NOUN
easat-6812	163	10	.	.	PUNCT
easat-6812	164	1	firm	firm	ADJ
easat-6812	164	2	size	size	NOUN
easat-6812	164	3	averages	average	VERB
easat-6812	164	4	105.5	105.5	NUM
easat-6812	164	5	,	,	PUNCT
easat-6812	164	6	and	and	CCONJ
easat-6812	164	7	leverage	leverage	NOUN
easat-6812	164	8	averages	average	NOUN
easat-6812	164	9	33.61	33.61	NUM
easat-6812	164	10	,	,	PUNCT
easat-6812	164	11	indicating	indicate	VERB
easat-6812	164	12	varying	vary	VERB
easat-6812	164	13	operations	operation	NOUN
easat-6812	164	14	and	and	CCONJ
easat-6812	164	15	debt	debt	NOUN
easat-6812	164	16	policy	policy	NOUN
easat-6812	164	17	scales	scale	NOUN
easat-6812	164	18	.	.	PUNCT
easat-6812	165	1	profitability	profitability	NOUN
easat-6812	165	2	averages	average	NOUN
easat-6812	165	3	85.23	85.23	NUM
easat-6812	165	4	,	,	PUNCT
easat-6812	165	5	with	with	ADP
easat-6812	165	6	significant	significant	ADJ
easat-6812	165	7	variations	variation	NOUN
easat-6812	165	8	.	.	PUNCT
easat-6812	166	1	these	these	DET
easat-6812	166	2	data	datum	NOUN
easat-6812	166	3	indicate	indicate	VERB
easat-6812	166	4	differences	difference	NOUN
easat-6812	166	5	in	in	ADP
easat-6812	166	6	company	company	NOUN
easat-6812	166	7	characteristics	characteristic	NOUN
easat-6812	166	8	that	that	PRON
easat-6812	166	9	can	can	AUX
easat-6812	166	10	affect	affect	VERB
easat-6812	166	11	performance	performance	NOUN
easat-6812	166	12	,	,	PUNCT
easat-6812	166	13	digital	digital	ADJ
easat-6812	166	14	transformation	transformation	NOUN
easat-6812	166	15	,	,	PUNCT
easat-6812	166	16	and	and	CCONJ
easat-6812	166	17	financial	financial	ADJ
easat-6812	166	18	condition	condition	NOUN
easat-6812	166	19	.	.	PUNCT
easat-6812	167	1	table	table	NOUN
easat-6812	167	2	5	5	NUM
easat-6812	167	3	.	.	PUNCT
easat-6812	168	1	regression	regression	NOUN
easat-6812	168	2	.	.	PUNCT
easat-6812	169	1	the	the	DET
easat-6812	169	2	impact	impact	NOUN
easat-6812	169	3	of	of	ADP
easat-6812	169	4	financial	financial	ADJ
easat-6812	169	5	constraints	constraint	NOUN
easat-6812	169	6	on	on	ADP
easat-6812	169	7	firm	firm	ADJ
easat-6812	169	8	performance	performance	NOUN
easat-6812	169	9	financial	financial	ADJ
easat-6812	169	10	constraints	constraint	NOUN
easat-6812	169	11	coefficient	coefficient	VERB
easat-6812	169	12	std	std	NOUN
easat-6812	169	13	.	.	PUNCT
easat-6812	169	14	error	error	NOUN
easat-6812	169	15	.	.	PUNCT
easat-6812	170	1	t	t	PROPN
easat-6812	170	2	p>|t|	p>|t|	X
easat-6812	171	1	[	[	X
easat-6812	171	2	95	95	NUM
easat-6812	171	3	%	%	NOUN
easat-6812	171	4	conf	conf	NOUN
easat-6812	171	5	.	.	PUNCT
easat-6812	172	1	interval	interval	NOUN
easat-6812	172	2	]	]	PUNCT
easat-6812	172	3	firm	firm	ADJ
easat-6812	172	4	performance	performance	NOUN
easat-6812	172	5	-7,160532	-7,160532	PUNCT
easat-6812	172	6	1,89558	1,89558	NUM
easat-6812	173	1	-3,78	-3,78	ADP
easat-6812	173	2	0.000	0.000	NUM
easat-6812	173	3	*	*	PUNCT
easat-6812	173	4	*	*	PUNCT
easat-6812	173	5	*	*	PUNCT
easat-6812	173	6	-10,89754	-10,89754	PROPN
easat-6812	173	7	-3,423521	-3,423521	PROPN
easat-6812	173	8	_	_	NOUN
easat-6812	173	9	cons	con	VERB
easat-6812	173	10	599,4003	599,4003	NUM
easat-6812	173	11	36,97353	36,97353	NUM
easat-6812	173	12	16,21	16,21	NUM
easat-6812	173	13	0.000	0.000	NUM
easat-6812	173	14	*	*	PUNCT
easat-6812	173	15	*	*	PUNCT
easat-6812	173	16	*	*	PUNCT
easat-6812	173	17	526,5094	526,5094	NUM
easat-6812	173	18	672,2912	672,2912	NUM
easat-6812	173	19	note	note	NOUN
easat-6812	173	20	:	:	PUNCT
easat-6812	173	21	*	*	PUNCT
easat-6812	173	22	*	*	PUNCT
easat-6812	173	23	*	*	PUNCT
easat-6812	173	24	,	,	PUNCT
easat-6812	173	25	*	*	PUNCT
easat-6812	173	26	*	*	PUNCT
easat-6812	173	27	,	,	PUNCT
easat-6812	173	28	and	and	CCONJ
easat-6812	173	29	,	,	PUNCT
easat-6812	173	30	*	*	PUNCT
easat-6812	173	31	indicate	indicate	VERB
easat-6812	173	32	1	1	NUM
easat-6812	173	33	%	%	NOUN
easat-6812	173	34	,	,	PUNCT
easat-6812	173	35	5	5	NUM
easat-6812	173	36	%	%	NOUN
easat-6812	173	37	,	,	PUNCT
easat-6812	173	38	and	and	CCONJ
easat-6812	173	39	10	10	NUM
easat-6812	173	40	%	%	NOUN
easat-6812	173	41	significance	significance	NOUN
easat-6812	173	42	levels	level	NOUN
easat-6812	173	43	.	.	PUNCT
easat-6812	174	1	the	the	DET
easat-6812	174	2	regression	regression	NOUN
easat-6812	174	3	results	result	NOUN
easat-6812	174	4	show	show	VERB
easat-6812	174	5	a	a	DET
easat-6812	174	6	significant	significant	ADJ
easat-6812	174	7	negative	negative	ADJ
easat-6812	174	8	relationship	relationship	NOUN
easat-6812	174	9	between	between	ADP
easat-6812	174	10	firm	firm	ADJ
easat-6812	174	11	performance	performance	NOUN
easat-6812	174	12	and	and	CCONJ
easat-6812	174	13	financial	financial	ADJ
easat-6812	174	14	constraints	constraint	NOUN
easat-6812	174	15	,	,	PUNCT
easat-6812	174	16	with	with	ADP
easat-6812	174	17	a	a	DET
easat-6812	174	18	coefficient	coefficient	NOUN
easat-6812	174	19	of	of	ADP
easat-6812	174	20	-7.160532	-7.160532	NOUN
easat-6812	174	21	and	and	CCONJ
easat-6812	174	22	a	a	DET
easat-6812	174	23	p	p	NOUN
easat-6812	174	24	-	-	PUNCT
easat-6812	174	25	value	value	NOUN
easat-6812	174	26	of	of	ADP
easat-6812	174	27	0.000	0.000	NUM
easat-6812	174	28	.	.	PUNCT
easat-6812	175	1	although	although	SCONJ
easat-6812	175	2	the	the	DET
easat-6812	175	3	r	r	NOUN
easat-6812	175	4	-	-	PUNCT
easat-6812	175	5	squared	square	VERB
easat-6812	175	6	is	be	AUX
easat-6812	175	7	only	only	ADV
easat-6812	175	8	0.0642	0.0642	NUM
easat-6812	175	9	,	,	PUNCT
easat-6812	175	10	indicating	indicate	VERB
easat-6812	175	11	that	that	SCONJ
easat-6812	175	12	only	only	ADV
easat-6812	175	13	6.42	6.42	NUM
easat-6812	175	14	%	%	NOUN
easat-6812	175	15	of	of	ADP
easat-6812	175	16	the	the	DET
easat-6812	175	17	variation	variation	NOUN
easat-6812	175	18	in	in	ADP
easat-6812	175	19	financial	financial	ADJ
easat-6812	175	20	constraints	constraint	NOUN
easat-6812	175	21	can	can	AUX
easat-6812	175	22	be	be	AUX
easat-6812	175	23	explained	explain	VERB
easat-6812	175	24	by	by	ADP
easat-6812	175	25	firm	firm	ADJ
easat-6812	175	26	performance	performance	NOUN
easat-6812	175	27	,	,	PUNCT
easat-6812	175	28	this	this	DET
easat-6812	175	29	relationship	relationship	NOUN
easat-6812	175	30	is	be	AUX
easat-6812	175	31	still	still	ADV
easat-6812	175	32	significant	significant	ADJ
easat-6812	175	33	.	.	PUNCT
easat-6812	176	1	the	the	DET
easat-6812	176	2	constant	constant	ADJ
easat-6812	176	3	of	of	ADP
easat-6812	176	4	599.4003	599.4003	NUM
easat-6812	176	5	indicates	indicate	VERB
easat-6812	176	6	the	the	DET
easat-6812	176	7	value	value	NOUN
easat-6812	176	8	of	of	ADP
easat-6812	176	9	financial	financial	ADJ
easat-6812	176	10	constraints	constraint	NOUN
easat-6812	176	11	when	when	SCONJ
easat-6812	176	12	firm	firm	ADJ
easat-6812	176	13	performance	performance	NOUN
easat-6812	176	14	is	be	AUX
easat-6812	176	15	zero	zero	NUM
easat-6812	176	16	.	.	PUNCT
easat-6812	177	1	overall	overall	ADJ
easat-6812	177	2	,	,	PUNCT
easat-6812	177	3	improving	improve	VERB
easat-6812	177	4	firm	firm	ADJ
easat-6812	177	5	performance	performance	NOUN
easat-6812	177	6	can	can	AUX
easat-6812	177	7	reduce	reduce	VERB
easat-6812	177	8	financial	financial	ADJ
easat-6812	177	9	constraints	constraint	NOUN
easat-6812	177	10	,	,	PUNCT
easat-6812	177	11	although	although	SCONJ
easat-6812	177	12	the	the	DET
easat-6812	177	13	explanation	explanation	NOUN
easat-6812	177	14	is	be	AUX
easat-6812	177	15	limited	limited	ADJ
easat-6812	177	16	.	.	PUNCT
easat-6812	178	1	this	this	DET
easat-6812	178	2	table	table	NOUN
easat-6812	178	3	shows	show	VERB
easat-6812	178	4	that	that	SCONJ
easat-6812	178	5	the	the	PRON
easat-6812	178	6	greater	great	ADJ
easat-6812	178	7	the	the	DET
easat-6812	178	8	financial	financial	ADJ
easat-6812	178	9	constraint	constraint	NOUN
easat-6812	178	10	experienced	experience	VERB
easat-6812	178	11	by	by	ADP
easat-6812	178	12	the	the	DET
easat-6812	178	13	company	company	NOUN
easat-6812	178	14	,	,	PUNCT
easat-6812	178	15	the	the	PRON
easat-6812	178	16	worse	bad	ADJ
easat-6812	178	17	the	the	DET
easat-6812	178	18	firm	firm	NOUN
easat-6812	178	19	's	's	PART
easat-6812	178	20	performance	performance	NOUN
easat-6812	178	21	.	.	PUNCT
easat-6812	179	1	this	this	DET
easat-6812	179	2	finding	finding	NOUN
easat-6812	179	3	supports	support	VERB
easat-6812	179	4	the	the	DET
easat-6812	179	5	first	first	ADJ
easat-6812	179	6	hypothesis	hypothesis	NOUN
easat-6812	179	7	(	(	PUNCT
easat-6812	179	8	h1	h1	PROPN
easat-6812	179	9	)	)	PUNCT
easat-6812	179	10	,	,	PUNCT
easat-6812	179	11	which	which	PRON
easat-6812	179	12	states	state	VERB
easat-6812	179	13	that	that	SCONJ
easat-6812	179	14	financial	financial	ADJ
easat-6812	179	15	constraints	constraint	NOUN
easat-6812	179	16	negatively	negatively	ADV
easat-6812	179	17	affect	affect	VERB
easat-6812	179	18	firm	firm	ADJ
easat-6812	179	19	performance	performance	NOUN
easat-6812	179	20	.	.	PUNCT
easat-6812	180	1	table	table	NOUN
easat-6812	180	2	6	6	NUM
easat-6812	180	3	.	.	PUNCT
easat-6812	181	1	digital	digital	ADJ
easat-6812	181	2	transformation	transformation	NOUN
easat-6812	181	3	as	as	ADP
easat-6812	181	4	a	a	DET
easat-6812	181	5	mediating	mediate	VERB
easat-6812	181	6	variable	variable	NOUN
easat-6812	181	7	between	between	ADP
easat-6812	181	8	financial	financial	ADJ
easat-6812	181	9	constraints	constraint	NOUN
easat-6812	181	10	and	and	CCONJ
easat-6812	181	11	firm	firm	ADJ
easat-6812	181	12	performance	performance	NOUN
easat-6812	181	13	.	.	PUNCT
easat-6812	182	1	firm_performance	firm_performance	NOUN
easat-6812	182	2	coefficient	coefficient	NOUN
easat-6812	182	3	std	std	NOUN
easat-6812	182	4	error	error	NOUN
easat-6812	182	5	t	t	X
easat-6812	182	6	p	p	X
easat-6812	182	7	>	>	X
easat-6812	182	8	iti	iti	PROPN
easat-6812	183	1	[	[	X
easat-6812	183	2	95	95	NUM
easat-6812	183	3	%	%	NOUN
easat-6812	183	4	conf	conf	NOUN
easat-6812	183	5	.	.	PUNCT
easat-6812	184	1	interval	interval	NOUN
easat-6812	184	2	]	]	PUNCT
easat-6812	184	3	financial_constraints	financial_constraint	NOUN
easat-6812	184	4	-0.0090316	-0.0090316	VERB
easat-6812	184	5	0.0023661	0.0023661	NUM
easat-6812	184	6	-3.82	-3.82	NUM
easat-6812	185	1	0.000	0.000	NUM
easat-6812	185	2	*	*	PUNCT
easat-6812	185	3	*	*	PUNCT
easat-6812	185	4	*	*	NOUN
easat-6812	185	5	-0.0136962	-0.0136962	X
easat-6812	185	6	0.0043669	0.0043669	NUM
easat-6812	185	7	digital_transformation	digital_transformation	NOUN
easat-6812	185	8	0.6555624	0.6555624	NUM
easat-6812	185	9	0.425977	0.425977	NUM
easat-6812	185	10	1.54	1.54	NUM
easat-6812	185	11	0.125	0.125	NUM
easat-6812	185	12	-0.1842471	-0.1842471	NOUN
easat-6812	185	13	1.495372	1.495372	NUM
easat-6812	185	14	_	_	PUNCT
easat-6812	185	15	cons	con	NOUN
easat-6812	185	16	7.026.173	7.026.173	NUM
easat-6812	185	17	3.130.532	3.130.532	NUM
easat-6812	185	18	2.24	2.24	NUM
easat-6812	185	19	0.026	0.026	NUM
easat-6812	185	20	*	*	PUNCT
easat-6812	185	21	*	*	PUNCT
easat-6812	186	1	0.8543604	0.8543604	NUM
easat-6812	186	2	13.19799	13.19799	NUM
easat-6812	186	3	note	note	NOUN
easat-6812	186	4	:	:	PUNCT
easat-6812	186	5	*	*	PUNCT
easat-6812	186	6	*	*	PUNCT
easat-6812	186	7	*	*	PUNCT
easat-6812	186	8	,	,	PUNCT
easat-6812	186	9	*	*	PUNCT
easat-6812	186	10	*	*	PUNCT
easat-6812	186	11	,	,	PUNCT
easat-6812	186	12	and	and	CCONJ
easat-6812	186	13	,	,	PUNCT
easat-6812	186	14	*	*	PUNCT
easat-6812	186	15	indicate	indicate	VERB
easat-6812	186	16	1	1	NUM
easat-6812	186	17	%	%	NOUN
easat-6812	186	18	,	,	PUNCT
easat-6812	186	19	5	5	NUM
easat-6812	186	20	%	%	NOUN
easat-6812	186	21	,	,	PUNCT
easat-6812	186	22	and	and	CCONJ
easat-6812	186	23	10	10	NUM
easat-6812	186	24	%	%	NOUN
easat-6812	186	25	significance	significance	NOUN
easat-6812	186	26	levels	level	NOUN
easat-6812	186	27	.	.	PUNCT
easat-6812	187	1	the	the	DET
easat-6812	187	2	regression	regression	NOUN
easat-6812	187	3	results	result	NOUN
easat-6812	187	4	show	show	VERB
easat-6812	187	5	that	that	SCONJ
easat-6812	187	6	financial	financial	ADJ
easat-6812	187	7	constraints	constraint	NOUN
easat-6812	187	8	negatively	negatively	ADV
easat-6812	187	9	and	and	CCONJ
easat-6812	187	10	significantly	significantly	ADV
easat-6812	187	11	affect	affect	VERB
easat-6812	187	12	firm	firm	ADJ
easat-6812	187	13	performance	performance	NOUN
easat-6812	187	14	(	(	PUNCT
easat-6812	187	15	coefficient	coefficient	NOUN
easat-6812	187	16	=	=	NOUN
easat-6812	187	17	-0.0090	-0.0090	NOUN
easat-6812	187	18	;	;	PUNCT
easat-6812	187	19	p	p	X
easat-6812	187	20	=	=	NOUN
easat-6812	187	21	0.000	0.000	NUM
easat-6812	187	22	)	)	PUNCT
easat-6812	187	23	,	,	PUNCT
easat-6812	187	24	while	while	SCONJ
easat-6812	187	25	digital	digital	ADJ
easat-6812	187	26	transformation	transformation	NOUN
easat-6812	187	27	has	have	VERB
easat-6812	187	28	a	a	DET
easat-6812	187	29	positive	positive	ADJ
easat-6812	187	30	but	but	CCONJ
easat-6812	187	31	insignificant	insignificant	ADJ
easat-6812	187	32	effect	effect	NOUN
easat-6812	187	33	(	(	PUNCT
easat-6812	187	34	coefficient	coefficient	NOUN
easat-6812	187	35	=	=	NOUN
easat-6812	187	36	0.6556	0.6556	NUM
easat-6812	187	37	;	;	PUNCT
easat-6812	187	38	p	p	X
easat-6812	187	39	=	=	NOUN
easat-6812	187	40	0.125	0.125	NUM
easat-6812	187	41	)	)	PUNCT
easat-6812	187	42	.	.	PUNCT
easat-6812	188	1	the	the	DET
easat-6812	188	2	constant	constant	ADJ
easat-6812	188	3	of	of	ADP
easat-6812	188	4	7.0262	7.0262	NUM
easat-6812	188	5	is	be	AUX
easat-6812	188	6	significant	significant	ADJ
easat-6812	188	7	(	(	PUNCT
easat-6812	188	8	p	p	X
easat-6812	188	9	=	=	NOUN
easat-6812	188	10	0.026	0.026	NUM
easat-6812	188	11	)	)	PUNCT
easat-6812	188	12	.	.	PUNCT
easat-6812	189	1	the	the	DET
easat-6812	189	2	model	model	NOUN
easat-6812	189	3	test	test	NOUN
easat-6812	189	4	with	with	ADP
easat-6812	189	5	f	f	X
easat-6812	189	6	-	-	PUNCT
easat-6812	189	7	statistic	statistic	NOUN
easat-6812	189	8	8.37	8.37	NUM
easat-6812	189	9	(	(	PUNCT
easat-6812	189	10	p	p	X
easat-6812	189	11	=	=	SYM
easat-6812	189	12	0.0003	0.0003	NUM
easat-6812	189	13	)	)	PUNCT
easat-6812	189	14	shows	show	VERB
easat-6812	189	15	a	a	DET
easat-6812	189	16	significant	significant	ADJ
easat-6812	189	17	model	model	NOUN
easat-6812	189	18	,	,	PUNCT
easat-6812	189	19	although	although	SCONJ
easat-6812	189	20	r	r	NOUN
easat-6812	189	21	-	-	PUNCT
easat-6812	189	22	squared	square	VERB
easat-6812	189	23	is	be	AUX
easat-6812	189	24	only	only	ADV
easat-6812	189	25	0.0748	0.0748	NUM
easat-6812	189	26	,	,	PUNCT
easat-6812	189	27	so	so	ADV
easat-6812	189	28	most	most	ADJ
easat-6812	189	29	of	of	ADP
easat-6812	189	30	the	the	DET
easat-6812	189	31	variation	variation	NOUN
easat-6812	189	32	in	in	ADP
easat-6812	189	33	firm	firm	ADJ
easat-6812	189	34	performance	performance	NOUN
easat-6812	189	35	has	have	AUX
easat-6812	189	36	not	not	PART
easat-6812	189	37	been	be	AUX
easat-6812	189	38	explained	explain	VERB
easat-6812	189	39	by	by	ADP
easat-6812	189	40	this	this	DET
easat-6812	189	41	model	model	NOUN
easat-6812	189	42	.	.	PUNCT
easat-6812	190	1	the	the	DET
easat-6812	190	2	second	second	ADJ
easat-6812	190	3	hypothesis	hypothesis	NOUN
easat-6812	190	4	(	(	PUNCT
easat-6812	190	5	h2	h2	NOUN
easat-6812	190	6	)	)	PUNCT
easat-6812	190	7	is	be	AUX
easat-6812	190	8	not	not	PART
easat-6812	190	9	supported	support	VERB
easat-6812	190	10	by	by	ADP
easat-6812	190	11	the	the	DET
easat-6812	190	12	data	datum	NOUN
easat-6812	190	13	.	.	PUNCT
easat-6812	191	1	this	this	PRON
easat-6812	191	2	indicates	indicate	VERB
easat-6812	191	3	that	that	SCONJ
easat-6812	191	4	digital	digital	ADJ
easat-6812	191	5	transformation	transformation	NOUN
easat-6812	191	6	has	have	AUX
easat-6812	191	7	not	not	PART
easat-6812	191	8	effectively	effectively	ADV
easat-6812	191	9	reduced	reduce	VERB
easat-6812	191	10	the	the	DET
easat-6812	191	11	negative	negative	ADJ
easat-6812	191	12	impact	impact	NOUN
easat-6812	191	13	of	of	ADP
easat-6812	191	14	financial	financial	ADJ
easat-6812	191	15	constraints	constraint	NOUN
easat-6812	191	16	on	on	ADP
easat-6812	191	17	firm	firm	ADJ
easat-6812	191	18	performance	performance	NOUN
easat-6812	191	19	.	.	PUNCT
easat-6812	192	1	one	one	NUM
easat-6812	192	2	potential	potential	ADJ
easat-6812	192	3	reason	reason	NOUN
easat-6812	192	4	is	be	AUX
easat-6812	192	5	the	the	DET
easat-6812	192	6	lack	lack	NOUN
easat-6812	192	7	of	of	ADP
easat-6812	192	8	investment	investment	NOUN
easat-6812	192	9	in	in	ADP
easat-6812	192	10	effective	effective	ADJ
easat-6812	192	11	digital	digital	ADJ
easat-6812	192	12	technology	technology	NOUN
easat-6812	192	13	,	,	PUNCT
easat-6812	192	14	such	such	ADJ
easat-6812	192	15	as	as	ADP
easat-6812	192	16	implementing	implement	VERB
easat-6812	192	17	integrated	integrate	VERB
easat-6812	192	18	digital	digital	ADJ
easat-6812	192	19	systems	system	NOUN
easat-6812	192	20	,	,	PUNCT
easat-6812	192	21	using	use	VERB
easat-6812	192	22	big	big	ADJ
easat-6812	192	23	data	datum	NOUN
easat-6812	192	24	analytics	analytic	NOUN
easat-6812	192	25	,	,	PUNCT
easat-6812	192	26	or	or	CCONJ
easat-6812	192	27	developing	develop	VERB
easat-6812	192	28	adequate	adequate	ADJ
easat-6812	192	29	technological	technological	ADJ
easat-6812	192	30	infrastructure	infrastructure	NOUN
easat-6812	192	31	to	to	PART
easat-6812	192	32	support	support	VERB
easat-6812	192	33	the	the	DET
easat-6812	192	34	company	company	NOUN
easat-6812	192	35	's	's	PART
easat-6812	192	36	operational	operational	ADJ
easat-6812	192	37	processes	process	NOUN
easat-6812	192	38	and	and	CCONJ
easat-6812	192	39	strategic	strategic	ADJ
easat-6812	192	40	decision	decision	NOUN
easat-6812	192	41	-	-	PUNCT
easat-6812	192	42	making	making	NOUN
easat-6812	192	43	.	.	PUNCT
easat-6812	193	1	table	table	NOUN
easat-6812	193	2	7	7	NUM
easat-6812	193	3	.	.	PUNCT
easat-6812	194	1	the	the	DET
easat-6812	194	2	impact	impact	NOUN
easat-6812	194	3	of	of	ADP
easat-6812	194	4	firm	firm	ADJ
easat-6812	194	5	age	age	NOUN
easat-6812	194	6	on	on	ADP
easat-6812	194	7	firm	firm	ADJ
easat-6812	194	8	performance	performance	NOUN
easat-6812	194	9	with	with	ADP
easat-6812	194	10	control	control	NOUN
easat-6812	194	11	variables	variable	NOUN
easat-6812	194	12	.	.	PUNCT
easat-6812	195	1	firm_age	firm_age	NOUN
easat-6812	195	2	coefficient	coefficient	NOUN
easat-6812	195	3	std	std	NOUN
easat-6812	195	4	error	error	NOUN
easat-6812	195	5	t	t	X
easat-6812	195	6	p	p	X
easat-6812	195	7	>	>	X
easat-6812	195	8	iti	iti	PROPN
easat-6812	196	1	[	[	X
easat-6812	196	2	95	95	NUM
easat-6812	196	3	%	%	NOUN
easat-6812	196	4	conf	conf	NOUN
easat-6812	196	5	.	.	PUNCT
easat-6812	197	1	interval	interval	NOUN
easat-6812	197	2	]	]	PUNCT
easat-6812	198	1	firm_performance	firm_performance	NOUN
easat-6812	198	2	-0.1788773	-0.1788773	NOUN
easat-6812	198	3	0.10057	0.10057	NUM
easat-6812	198	4	-1.78	-1.78	NUM
easat-6812	198	5	0.077	0.077	NUM
easat-6812	198	6	*	*	PUNCT
easat-6812	198	7	-0.3771614	-0.3771614	NOUN
easat-6812	199	1	0.0194068	0.0194068	NUM
easat-6812	199	2	firm_size	firm_size	NOUN
easat-6812	199	3	-0.036797	-0.036797	NOUN
easat-6812	199	4	0.0305706	0.0305706	NUM
easat-6812	199	5	-1.20	-1.20	NUM
easat-6812	199	6	0.230	0.230	NUM
easat-6812	199	7	-0.0970702	-0.0970702	NOUN
easat-6812	199	8	0.0234761	0.0234761	NUM
easat-6812	199	9	leverage	leverage	NOUN
easat-6812	199	10	0.1023026	0.1023026	NUM
easat-6812	199	11	0.0912948	0.0912948	NUM
easat-6812	199	12	1.12	1.12	NUM
easat-6812	199	13	0.264	0.264	NUM
easat-6812	199	14	-0.0776947	-0.0776947	NOUN
easat-6812	199	15	0.2822990	0.2822990	NUM
easat-6812	199	16	profitability	profitability	NOUN
easat-6812	199	17	0.1315776	0.1315776	NUM
easat-6812	199	18	0.0369096	0.0369096	NUM
easat-6812	199	19	3.56	3.56	NUM
easat-6812	199	20	0.000	0.000	NUM
easat-6812	199	21	*	*	PUNCT
easat-6812	199	22	*	*	PUNCT
easat-6812	199	23	*	*	PUNCT
easat-6812	200	1	0.0588065	0.0588065	NUM
easat-6812	200	2	0.2043487	0.2043487	NUM
easat-6812	200	3	_	_	PUNCT
easat-6812	200	4	cons	con	NOUN
easat-6812	200	5	4.503.489	4.503.489	NOUN
easat-6812	200	6	6.054.742	6.054.742	NUM
easat-6812	200	7	7.44	7.44	NUM
easat-6812	200	8	0.000	0.000	NUM
easat-6812	200	9	*	*	PUNCT
easat-6812	200	10	*	*	PUNCT
easat-6812	200	11	*	*	PUNCT
easat-6812	201	1	3.309.734	3.309.734	NUM
easat-6812	201	2	5.697.244	5.697.244	NUM
easat-6812	201	3	note	note	NOUN
easat-6812	201	4	:	:	PUNCT
easat-6812	201	5	*	*	PUNCT
easat-6812	201	6	*	*	PUNCT
easat-6812	201	7	*	*	PUNCT
easat-6812	201	8	,	,	PUNCT
easat-6812	201	9	*	*	PUNCT
easat-6812	201	10	*	*	PUNCT
easat-6812	201	11	,	,	PUNCT
easat-6812	201	12	and	and	CCONJ
easat-6812	201	13	,	,	PUNCT
easat-6812	201	14	*	*	PUNCT
easat-6812	201	15	indicate	indicate	VERB
easat-6812	201	16	1	1	NUM
easat-6812	201	17	%	%	NOUN
easat-6812	201	18	,	,	PUNCT
easat-6812	201	19	5	5	NUM
easat-6812	201	20	%	%	NOUN
easat-6812	201	21	,	,	PUNCT
easat-6812	201	22	and	and	CCONJ
easat-6812	201	23	10	10	NUM
easat-6812	201	24	%	%	NOUN
easat-6812	201	25	significance	significance	NOUN
easat-6812	201	26	levels	level	NOUN
easat-6812	201	27	.	.	PUNCT
easat-6812	202	1	194	194	NUM
easat-6812	202	2	edelweiss	edelweiss	PROPN
easat-6812	202	3	applied	apply	VERB
easat-6812	202	4	science	science	NOUN
easat-6812	202	5	and	and	CCONJ
easat-6812	202	6	technology	technology	NOUN
easat-6812	202	7	issn	issn	PROPN
easat-6812	202	8	:	:	PUNCT
easat-6812	202	9	2576	2576	NUM
easat-6812	202	10	-	-	SYM
easat-6812	202	11	8484	8484	NUM
easat-6812	202	12	vol	vol	NOUN
easat-6812	202	13	.	.	PROPN
easat-6812	203	1	9	9	NUM
easat-6812	203	2	,	,	PUNCT
easat-6812	203	3	no	no	INTJ
easat-6812	203	4	.	.	NOUN
easat-6812	203	5	5	5	NUM
easat-6812	203	6	:	:	PUNCT
easat-6812	203	7	187	187	NUM
easat-6812	203	8	-	-	SYM
easat-6812	203	9	196	196	NUM
easat-6812	203	10	,	,	PUNCT
easat-6812	203	11	2025	2025	NUM
easat-6812	203	12	doi	doi	NOUN
easat-6812	203	13	:	:	PUNCT
easat-6812	203	14	10.55214/25768484.v9i5.6812	10.55214/25768484.v9i5.6812	NOUN
easat-6812	203	15	©	©	PROPN
easat-6812	203	16	2025	2025	NUM
easat-6812	203	17	by	by	ADP
easat-6812	203	18	the	the	DET
easat-6812	203	19	authors	author	NOUN
easat-6812	203	20	;	;	PUNCT
easat-6812	203	21	licensee	licensee	PROPN
easat-6812	203	22	learning	learning	NOUN
easat-6812	203	23	gate	gate	VERB
easat-6812	203	24	the	the	DET
easat-6812	203	25	results	result	NOUN
easat-6812	203	26	of	of	ADP
easat-6812	203	27	the	the	DET
easat-6812	203	28	analysis	analysis	NOUN
easat-6812	203	29	show	show	VERB
easat-6812	203	30	that	that	SCONJ
easat-6812	203	31	firm	firm	ADJ
easat-6812	203	32	performance	performance	NOUN
easat-6812	203	33	(	(	PUNCT
easat-6812	203	34	coefficient	coefficient	NOUN
easat-6812	203	35	=	=	X
easat-6812	203	36	-0.1789	-0.1789	ADV
easat-6812	203	37	;	;	PUNCT
easat-6812	203	38	p	p	X
easat-6812	203	39	=	=	NOUN
easat-6812	203	40	0.077	0.077	NUM
easat-6812	203	41	)	)	PUNCT
easat-6812	203	42	,	,	PUNCT
easat-6812	203	43	firm	firm	ADJ
easat-6812	203	44	size	size	NOUN
easat-6812	203	45	(	(	PUNCT
easat-6812	203	46	coefficient	coefficient	NOUN
easat-6812	203	47	=	=	SYM
easat-6812	203	48	-0.0368	-0.0368	NOUN
easat-6812	203	49	;	;	PUNCT
easat-6812	203	50	p	p	X
easat-6812	203	51	=	=	NOUN
easat-6812	203	52	0.230	0.230	NUM
easat-6812	203	53	)	)	PUNCT
easat-6812	203	54	,	,	PUNCT
easat-6812	203	55	and	and	CCONJ
easat-6812	203	56	leverage	leverage	NOUN
easat-6812	203	57	(	(	PUNCT
easat-6812	203	58	coefficient	coefficient	NOUN
easat-6812	203	59	=	=	SYM
easat-6812	203	60	0.1023	0.1023	NUM
easat-6812	203	61	;	;	PUNCT
easat-6812	203	62	p	p	X
easat-6812	203	63	=	=	NOUN
easat-6812	203	64	0.264	0.264	NUM
easat-6812	203	65	)	)	PUNCT
easat-6812	203	66	have	have	VERB
easat-6812	203	67	a	a	DET
easat-6812	203	68	relationship	relationship	NOUN
easat-6812	203	69	with	with	ADP
easat-6812	203	70	firm	firm	ADJ
easat-6812	203	71	age	age	NOUN
easat-6812	203	72	but	but	CCONJ
easat-6812	203	73	are	be	AUX
easat-6812	203	74	not	not	PART
easat-6812	203	75	statistically	statistically	ADV
easat-6812	203	76	significant	significant	ADJ
easat-6812	203	77	.	.	PUNCT
easat-6812	204	1	in	in	ADP
easat-6812	204	2	contrast	contrast	NOUN
easat-6812	204	3	,	,	PUNCT
easat-6812	204	4	profitability	profitability	NOUN
easat-6812	204	5	is	be	AUX
easat-6812	204	6	positively	positively	ADV
easat-6812	204	7	and	and	CCONJ
easat-6812	204	8	significantly	significantly	ADV
easat-6812	204	9	related	relate	VERB
easat-6812	204	10	to	to	ADP
easat-6812	204	11	firm	firm	ADJ
easat-6812	204	12	age	age	NOUN
easat-6812	204	13	(	(	PUNCT
easat-6812	204	14	coefficient	coefficient	NOUN
easat-6812	204	15	=	=	PUNCT
easat-6812	204	16	0.1316	0.1316	NUM
easat-6812	204	17	;	;	PUNCT
easat-6812	204	18	p	p	X
easat-6812	204	19	=	=	NOUN
easat-6812	204	20	0.000	0.000	NUM
easat-6812	204	21	)	)	PUNCT
easat-6812	204	22	.	.	PUNCT
easat-6812	205	1	the	the	DET
easat-6812	205	2	model	model	NOUN
easat-6812	205	3	test	test	NOUN
easat-6812	205	4	shows	show	VERB
easat-6812	205	5	an	an	DET
easat-6812	205	6	f	f	NOUN
easat-6812	205	7	-	-	PUNCT
easat-6812	205	8	statistic	statistic	NOUN
easat-6812	205	9	of	of	ADP
easat-6812	205	10	4.63	4.63	NUM
easat-6812	205	11	(	(	PUNCT
easat-6812	205	12	p	p	X
easat-6812	205	13	=	=	NOUN
easat-6812	205	14	0.0013	0.0013	NUM
easat-6812	205	15	)	)	PUNCT
easat-6812	205	16	,	,	PUNCT
easat-6812	205	17	with	with	ADP
easat-6812	205	18	an	an	DET
easat-6812	205	19	r	r	NOUN
easat-6812	205	20	-	-	PUNCT
easat-6812	205	21	squared	squared	NOUN
easat-6812	205	22	of	of	ADP
easat-6812	205	23	0.0828	0.0828	NUM
easat-6812	205	24	.	.	PUNCT
easat-6812	206	1	although	although	SCONJ
easat-6812	206	2	the	the	DET
easat-6812	206	3	model	model	NOUN
easat-6812	206	4	is	be	AUX
easat-6812	206	5	significant	significant	ADJ
easat-6812	206	6	overall	overall	ADJ
easat-6812	206	7	,	,	PUNCT
easat-6812	206	8	only	only	ADV
easat-6812	206	9	8.28	8.28	NUM
easat-6812	206	10	%	%	NOUN
easat-6812	206	11	of	of	ADP
easat-6812	206	12	the	the	DET
easat-6812	206	13	variation	variation	NOUN
easat-6812	206	14	in	in	ADP
easat-6812	206	15	firm	firm	ADJ
easat-6812	206	16	age	age	NOUN
easat-6812	206	17	is	be	AUX
easat-6812	206	18	explained	explain	VERB
easat-6812	206	19	by	by	ADP
easat-6812	206	20	these	these	DET
easat-6812	206	21	variables	variable	NOUN
easat-6812	206	22	.	.	PUNCT
easat-6812	207	1	the	the	DET
easat-6812	207	2	third	third	ADJ
easat-6812	207	3	hypothesis	hypothesis	NOUN
easat-6812	207	4	(	(	PUNCT
easat-6812	207	5	h3	h3	NOUN
easat-6812	207	6	)	)	PUNCT
easat-6812	207	7	,	,	PUNCT
easat-6812	207	8	according	accord	VERB
easat-6812	207	9	to	to	ADP
easat-6812	207	10	which	which	PRON
easat-6812	207	11	a	a	DET
easat-6812	207	12	firm	firm	NOUN
easat-6812	207	13	's	's	PART
easat-6812	207	14	performance	performance	NOUN
easat-6812	207	15	tends	tend	VERB
easat-6812	207	16	to	to	PART
easat-6812	207	17	deteriorate	deteriorate	VERB
easat-6812	207	18	with	with	ADP
easat-6812	207	19	age	age	NOUN
easat-6812	207	20	,	,	PUNCT
easat-6812	207	21	is	be	AUX
easat-6812	207	22	supported	support	VERB
easat-6812	207	23	by	by	ADP
easat-6812	207	24	this	this	DET
easat-6812	207	25	study	study	NOUN
easat-6812	207	26	.	.	PUNCT
easat-6812	208	1	this	this	PRON
easat-6812	208	2	is	be	AUX
easat-6812	208	3	in	in	ADP
easat-6812	208	4	line	line	NOUN
easat-6812	208	5	with	with	ADP
easat-6812	208	6	earlier	early	ADJ
easat-6812	208	7	research	research	NOUN
easat-6812	208	8	that	that	PRON
easat-6812	208	9	indicated	indicate	VERB
easat-6812	208	10	a	a	DET
easat-6812	208	11	strong	strong	ADJ
easat-6812	208	12	negative	negative	ADJ
easat-6812	208	13	correlation	correlation	NOUN
easat-6812	208	14	between	between	ADP
easat-6812	208	15	firm	firm	ADJ
easat-6812	208	16	age	age	NOUN
easat-6812	208	17	and	and	CCONJ
easat-6812	208	18	performance	performance	NOUN
easat-6812	208	19	,	,	PUNCT
easat-6812	208	20	such	such	ADJ
easat-6812	208	21	as	as	ADP
easat-6812	208	22	the	the	DET
easat-6812	208	23	impact	impact	NOUN
easat-6812	208	24	of	of	ADP
easat-6812	208	25	age	age	NOUN
easat-6812	208	26	on	on	ADP
easat-6812	208	27	firm	firm	ADJ
easat-6812	208	28	performance	performance	NOUN
easat-6812	208	29	.	.	PUNCT
easat-6812	209	1	these	these	DET
easat-6812	209	2	relationships	relationship	NOUN
easat-6812	209	3	point	point	VERB
easat-6812	209	4	to	to	ADP
easat-6812	209	5	a	a	DET
easat-6812	209	6	concept	concept	NOUN
easat-6812	209	7	in	in	ADP
easat-6812	209	8	the	the	DET
easat-6812	209	9	literature	literature	NOUN
easat-6812	209	10	,	,	PUNCT
easat-6812	209	11	indicating	indicate	VERB
easat-6812	209	12	that	that	SCONJ
easat-6812	209	13	larger	large	ADJ
easat-6812	209	14	companies	company	NOUN
easat-6812	209	15	are	be	AUX
easat-6812	209	16	frequently	frequently	ADV
easat-6812	209	17	struggling	struggle	VERB
easat-6812	209	18	with	with	ADP
easat-6812	209	19	innovation	innovation	NOUN
easat-6812	209	20	.	.	PUNCT
easat-6812	210	1	these	these	DET
easat-6812	210	2	challenges	challenge	NOUN
easat-6812	210	3	include	include	VERB
easat-6812	210	4	operational	operational	ADJ
easat-6812	210	5	inefficiencies	inefficiency	NOUN
easat-6812	210	6	like	like	ADP
easat-6812	210	7	challenging	challenge	VERB
easat-6812	210	8	organizational	organizational	ADJ
easat-6812	210	9	structures	structure	NOUN
easat-6812	210	10	,	,	PUNCT
easat-6812	210	11	bureaucratic	bureaucratic	ADJ
easat-6812	210	12	obstructions	obstruction	NOUN
easat-6812	210	13	that	that	PRON
easat-6812	210	14	impede	impede	VERB
easat-6812	210	15	decision	decision	NOUN
easat-6812	210	16	-	-	PUNCT
easat-6812	210	17	making	making	NOUN
easat-6812	210	18	,	,	PUNCT
easat-6812	210	19	and	and	CCONJ
easat-6812	210	20	trouble	trouble	NOUN
easat-6812	210	21	luring	lure	VERB
easat-6812	210	22	in	in	ADP
easat-6812	210	23	fresh	fresh	ADJ
easat-6812	210	24	,	,	PUNCT
easat-6812	210	25	creative	creative	ADJ
easat-6812	210	26	talent	talent	NOUN
easat-6812	210	27	.	.	PUNCT
easat-6812	211	1	table	table	NOUN
easat-6812	211	2	8	8	NUM
easat-6812	211	3	.	.	PUNCT
easat-6812	212	1	heteroscedasticity	heteroscedasticity	NOUN
easat-6812	212	2	.	.	PUNCT
easat-6812	213	1	firm_performance	firm_performance	NOUN
easat-6812	213	2	coefficient	coefficient	NOUN
easat-6812	213	3	std	std	NOUN
easat-6812	213	4	error	error	NOUN
easat-6812	213	5	t	t	X
easat-6812	213	6	p	p	X
easat-6812	213	7	>	>	X
easat-6812	213	8	iti	iti	PROPN
easat-6812	214	1	[	[	X
easat-6812	214	2	95	95	NUM
easat-6812	214	3	%	%	NOUN
easat-6812	214	4	conf	conf	NOUN
easat-6812	214	5	.	.	PUNCT
easat-6812	215	1	interval	interval	NOUN
easat-6812	215	2	]	]	PUNCT
easat-6812	215	3	financial_constraints	financial_constraint	NOUN
easat-6812	215	4	-0.0093228	-0.0093228	VERB
easat-6812	215	5	0.002364	0.002364	NUM
easat-6812	215	6	-3.94	-3.94	NUM
easat-6812	215	7	0.000	0.000	NUM
easat-6812	215	8	*	*	PUNCT
easat-6812	215	9	*	*	PUNCT
easat-6812	215	10	*	*	PUNCT
easat-6812	215	11	-0.0139835	-0.0139835	NOUN
easat-6812	215	12	-0.0046622	-0.0046622	NOUN
easat-6812	216	1	firm_age	firm_age	PROPN
easat-6812	216	2	-0.0950779	-0.0950779	PROPN
easat-6812	216	3	0.0481568	0.0481568	NUM
easat-6812	216	4	-1.97	-1.97	VERB
easat-6812	216	5	0.050	0.050	NUM
easat-6812	216	6	*	*	PUNCT
easat-6812	216	7	*	*	NOUN
easat-6812	216	8	-0.1900185	-0.1900185	NOUN
easat-6812	216	9	-0.0001372	-0.0001372	PUNCT
easat-6812	217	1	_	_	DET
easat-6812	217	2	cons	con	NOUN
easat-6812	217	3	1.636.041	1.636.041	NUM
easat-6812	217	4	3.277.431	3.277.431	NUM
easat-6812	217	5	4.99	4.99	NUM
easat-6812	217	6	0.000	0.000	NUM
easat-6812	217	7	*	*	PUNCT
easat-6812	217	8	*	*	PUNCT
easat-6812	217	9	*	*	PUNCT
easat-6812	217	10	9.898.981	9.898.981	NUM
easat-6812	217	11	2.282.183	2.282.183	NUM
easat-6812	217	12	note	note	NOUN
easat-6812	217	13	:	:	PUNCT
easat-6812	217	14	*	*	PUNCT
easat-6812	217	15	*	*	PUNCT
easat-6812	217	16	*	*	PUNCT
easat-6812	217	17	,	,	PUNCT
easat-6812	217	18	*	*	PUNCT
easat-6812	217	19	*	*	PUNCT
easat-6812	217	20	,	,	PUNCT
easat-6812	217	21	and	and	CCONJ
easat-6812	217	22	,	,	PUNCT
easat-6812	217	23	*	*	PUNCT
easat-6812	217	24	indicate	indicate	VERB
easat-6812	217	25	1	1	NUM
easat-6812	217	26	%	%	NOUN
easat-6812	217	27	,	,	PUNCT
easat-6812	217	28	5	5	NUM
easat-6812	217	29	%	%	NOUN
easat-6812	217	30	,	,	PUNCT
easat-6812	217	31	and	and	CCONJ
easat-6812	217	32	10	10	NUM
easat-6812	217	33	%	%	NOUN
easat-6812	217	34	significance	significance	NOUN
easat-6812	217	35	levels	level	NOUN
easat-6812	217	36	the	the	DET
easat-6812	217	37	regression	regression	NOUN
easat-6812	217	38	results	result	NOUN
easat-6812	217	39	show	show	VERB
easat-6812	217	40	that	that	SCONJ
easat-6812	217	41	the	the	DET
easat-6812	217	42	model	model	NOUN
easat-6812	217	43	is	be	AUX
easat-6812	217	44	significant	significant	ADJ
easat-6812	217	45	overall	overall	ADJ
easat-6812	217	46	(	(	PUNCT
easat-6812	217	47	f	f	PROPN
easat-6812	217	48	=	=	SYM
easat-6812	217	49	9.18	9.18	NUM
easat-6812	217	50	;	;	PUNCT
easat-6812	217	51	p	p	PROPN
easat-6812	217	52	=	=	PROPN
easat-6812	217	53	0.0002	0.0002	NUM
easat-6812	217	54	)	)	PUNCT
easat-6812	217	55	,	,	PUNCT
easat-6812	217	56	with	with	ADP
easat-6812	217	57	financial	financial	ADJ
easat-6812	217	58	constraints	constraint	NOUN
easat-6812	217	59	(	(	PUNCT
easat-6812	217	60	coefficient	coefficient	NOUN
easat-6812	217	61	=	=	SYM
easat-6812	217	62	-0.0093	-0.0093	NOUN
easat-6812	217	63	;	;	PUNCT
easat-6812	217	64	p	p	X
easat-6812	217	65	=	=	NOUN
easat-6812	217	66	0.000	0.000	NUM
easat-6812	217	67	)	)	PUNCT
easat-6812	217	68	and	and	CCONJ
easat-6812	217	69	firm	firm	ADJ
easat-6812	217	70	age	age	NOUN
easat-6812	217	71	(	(	PUNCT
easat-6812	217	72	coefficient	coefficient	NOUN
easat-6812	217	73	=	=	SYM
easat-6812	217	74	-0.0951	-0.0951	NOUN
easat-6812	217	75	;	;	PUNCT
easat-6812	217	76	p	p	X
easat-6812	217	77	=	=	NOUN
easat-6812	217	78	0.050	0.050	NUM
easat-6812	217	79	)	)	PUNCT
easat-6812	217	80	hurting	hurt	VERB
easat-6812	217	81	firm	firm	ADJ
easat-6812	217	82	performance	performance	NOUN
easat-6812	217	83	.	.	PUNCT
easat-6812	218	1	the	the	DET
easat-6812	218	2	intercept	intercept	NOUN
easat-6812	218	3	is	be	AUX
easat-6812	218	4	16.36	16.36	NUM
easat-6812	218	5	(	(	PUNCT
easat-6812	218	6	p	p	X
easat-6812	218	7	=	=	NOUN
easat-6812	218	8	0.000	0.000	NUM
easat-6812	218	9	)	)	PUNCT
easat-6812	218	10	.	.	PUNCT
easat-6812	219	1	the	the	DET
easat-6812	219	2	r	r	NOUN
easat-6812	219	3	-	-	PUNCT
easat-6812	219	4	squared	square	VERB
easat-6812	219	5	value	value	NOUN
easat-6812	219	6	of	of	ADP
easat-6812	219	7	0.0815	0.0815	NUM
easat-6812	219	8	indicates	indicate	VERB
easat-6812	219	9	that	that	SCONJ
easat-6812	219	10	only	only	ADV
easat-6812	219	11	8.15	8.15	NUM
easat-6812	219	12	%	%	NOUN
easat-6812	219	13	of	of	ADP
easat-6812	219	14	the	the	DET
easat-6812	219	15	variation	variation	NOUN
easat-6812	219	16	in	in	ADP
easat-6812	219	17	firm	firm	ADJ
easat-6812	219	18	performance	performance	NOUN
easat-6812	219	19	is	be	AUX
easat-6812	219	20	explained	explain	VERB
easat-6812	219	21	by	by	ADP
easat-6812	219	22	this	this	DET
easat-6812	219	23	model	model	NOUN
easat-6812	219	24	,	,	PUNCT
easat-6812	219	25	so	so	SCONJ
easat-6812	219	26	other	other	ADJ
easat-6812	219	27	factors	factor	NOUN
easat-6812	219	28	affect	affect	VERB
easat-6812	219	29	firm	firm	ADJ
easat-6812	219	30	performance	performance	NOUN
easat-6812	219	31	.	.	PUNCT
easat-6812	220	1	table	table	NOUN
easat-6812	220	2	9	9	NUM
easat-6812	220	3	.	.	PUNCT
easat-6812	220	4	multicolinearity	multicolinearity	NOUN
easat-6812	220	5	.	.	PUNCT
easat-6812	221	1	variable	variable	ADJ
easat-6812	221	2	vif	vif	NOUN
easat-6812	221	3	1	1	NUM
easat-6812	221	4	/	/	SYM
easat-6812	221	5	vif	vif	NOUN
easat-6812	221	6	financial_constraints	financial_constraint	VERB
easat-6812	221	7	1.01	1.01	NUM
easat-6812	221	8	0.994143	0.994143	NUM
easat-6812	221	9	firm_age	firm_age	ADP
easat-6812	221	10	1.01	1.01	NUM
easat-6812	221	11	0.994143	0.994143	NUM
easat-6812	221	12	mean	mean	NOUN
easat-6812	221	13	vif	vif	X
easat-6812	221	14	1.01	1.01	NUM
easat-6812	221	15	the	the	DET
easat-6812	221	16	results	result	NOUN
easat-6812	221	17	of	of	ADP
easat-6812	221	18	the	the	DET
easat-6812	221	19	multicollinearity	multicollinearity	NOUN
easat-6812	221	20	test	test	NOUN
easat-6812	221	21	show	show	VERB
easat-6812	221	22	that	that	SCONJ
easat-6812	221	23	the	the	DET
easat-6812	221	24	vif	vif	NOUN
easat-6812	221	25	(	(	PUNCT
easat-6812	221	26	variance	variance	NOUN
easat-6812	221	27	inflation	inflation	NOUN
easat-6812	221	28	factor	factor	NOUN
easat-6812	221	29	)	)	PUNCT
easat-6812	221	30	for	for	ADP
easat-6812	221	31	both	both	DET
easat-6812	221	32	variables	variable	NOUN
easat-6812	221	33	,	,	PUNCT
easat-6812	221	34	financial_constraints	financial_constraint	NOUN
easat-6812	221	35	and	and	CCONJ
easat-6812	221	36	firm_age	firm_age	NOUN
easat-6812	221	37	,	,	PUNCT
easat-6812	221	38	is	be	AUX
easat-6812	221	39	1.01	1.01	NUM
easat-6812	221	40	each	each	PRON
easat-6812	221	41	.	.	PUNCT
easat-6812	222	1	a	a	DET
easat-6812	222	2	vif	vif	NOUN
easat-6812	222	3	value	value	NOUN
easat-6812	222	4	close	close	ADV
easat-6812	222	5	to	to	ADP
easat-6812	222	6	1	1	NUM
easat-6812	222	7	indicates	indicate	VERB
easat-6812	222	8	no	no	DET
easat-6812	222	9	significant	significant	ADJ
easat-6812	222	10	multicollinearity	multicollinearity	NOUN
easat-6812	222	11	problem	problem	NOUN
easat-6812	222	12	between	between	ADP
easat-6812	222	13	the	the	DET
easat-6812	222	14	two	two	NUM
easat-6812	222	15	variables	variable	NOUN
easat-6812	222	16	.	.	PUNCT
easat-6812	223	1	usually	usually	ADV
easat-6812	223	2	,	,	PUNCT
easat-6812	223	3	a	a	DET
easat-6812	223	4	vif	vif	NOUN
easat-6812	223	5	value	value	NOUN
easat-6812	223	6	above	above	ADP
easat-6812	223	7	10	10	NUM
easat-6812	223	8	indicates	indicate	VERB
easat-6812	223	9	serious	serious	ADJ
easat-6812	223	10	multicollinearity	multicollinearity	NOUN
easat-6812	223	11	,	,	PUNCT
easat-6812	223	12	so	so	SCONJ
easat-6812	223	13	these	these	DET
easat-6812	223	14	two	two	NUM
easat-6812	223	15	variables	variable	NOUN
easat-6812	223	16	do	do	AUX
easat-6812	223	17	not	not	PART
easat-6812	223	18	have	have	VERB
easat-6812	223	19	a	a	DET
easat-6812	223	20	high	high	ADJ
easat-6812	223	21	correlation	correlation	NOUN
easat-6812	223	22	that	that	PRON
easat-6812	223	23	can	can	AUX
easat-6812	223	24	affect	affect	VERB
easat-6812	223	25	the	the	DET
easat-6812	223	26	regression	regression	NOUN
easat-6812	223	27	results	result	NOUN
easat-6812	223	28	.	.	PUNCT
easat-6812	224	1	5	5	X
easat-6812	224	2	.	.	X
easat-6812	224	3	conclusion	conclusion	VERB
easat-6812	224	4	the	the	DET
easat-6812	224	5	results	result	NOUN
easat-6812	224	6	of	of	ADP
easat-6812	224	7	this	this	DET
easat-6812	224	8	study	study	NOUN
easat-6812	224	9	indicate	indicate	VERB
easat-6812	224	10	that	that	SCONJ
easat-6812	224	11	financial	financial	ADJ
easat-6812	224	12	constraints	constraint	NOUN
easat-6812	224	13	have	have	VERB
easat-6812	224	14	a	a	DET
easat-6812	224	15	significant	significant	ADJ
easat-6812	224	16	negative	negative	ADJ
easat-6812	224	17	impact	impact	NOUN
easat-6812	224	18	on	on	ADP
easat-6812	224	19	the	the	DET
easat-6812	224	20	performance	performance	NOUN
easat-6812	224	21	of	of	ADP
easat-6812	224	22	companies	company	NOUN
easat-6812	224	23	in	in	ADP
easat-6812	224	24	indonesia	indonesia	PROPN
easat-6812	224	25	's	's	PART
easat-6812	224	26	non	non	ADJ
easat-6812	224	27	-	-	ADJ
easat-6812	224	28	cyclical	cyclical	ADJ
easat-6812	224	29	consumer	consumer	NOUN
easat-6812	224	30	sector	sector	NOUN
easat-6812	224	31	.	.	PUNCT
easat-6812	225	1	difficulty	difficulty	NOUN
easat-6812	225	2	in	in	ADP
easat-6812	225	3	obtaining	obtain	VERB
easat-6812	225	4	funding	funding	NOUN
easat-6812	225	5	limits	limit	NOUN
easat-6812	225	6	the	the	DET
easat-6812	225	7	ability	ability	NOUN
easat-6812	225	8	of	of	ADP
easat-6812	225	9	companies	company	NOUN
easat-6812	225	10	to	to	PART
easat-6812	225	11	invest	invest	VERB
easat-6812	225	12	in	in	ADP
easat-6812	225	13	long	long	ADJ
easat-6812	225	14	-	-	PUNCT
easat-6812	225	15	term	term	NOUN
easat-6812	225	16	strategies	strategy	NOUN
easat-6812	225	17	,	,	PUNCT
easat-6812	225	18	including	include	VERB
easat-6812	225	19	digital	digital	ADJ
easat-6812	225	20	transformation	transformation	NOUN
easat-6812	225	21	.	.	PUNCT
easat-6812	226	1	although	although	SCONJ
easat-6812	226	2	,	,	PUNCT
easat-6812	226	3	in	in	ADP
easat-6812	226	4	theory	theory	NOUN
easat-6812	226	5	,	,	PUNCT
easat-6812	226	6	digital	digital	ADJ
easat-6812	226	7	transformation	transformation	NOUN
easat-6812	226	8	can	can	AUX
easat-6812	226	9	be	be	AUX
easat-6812	226	10	a	a	DET
easat-6812	226	11	factor	factor	NOUN
easat-6812	226	12	that	that	PRON
easat-6812	226	13	improves	improve	VERB
easat-6812	226	14	firm	firm	ADJ
easat-6812	226	15	performance	performance	NOUN
easat-6812	226	16	,	,	PUNCT
easat-6812	226	17	in	in	ADP
easat-6812	226	18	this	this	DET
easat-6812	226	19	study	study	NOUN
easat-6812	226	20	,	,	PUNCT
easat-6812	226	21	the	the	DET
easat-6812	226	22	mediating	mediate	VERB
easat-6812	226	23	role	role	NOUN
easat-6812	226	24	of	of	ADP
easat-6812	226	25	digital	digital	ADJ
easat-6812	226	26	transformation	transformation	NOUN
easat-6812	226	27	was	be	AUX
easat-6812	226	28	not	not	PART
easat-6812	226	29	proven	prove	VERB
easat-6812	226	30	significant	significant	ADJ
easat-6812	226	31	.	.	PUNCT
easat-6812	227	1	this	this	PRON
easat-6812	227	2	indicates	indicate	VERB
easat-6812	227	3	that	that	SCONJ
easat-6812	227	4	digital	digital	ADJ
easat-6812	227	5	transformation	transformation	NOUN
easat-6812	227	6	is	be	AUX
easat-6812	227	7	not	not	PART
easat-6812	227	8	the	the	DET
easat-6812	227	9	only	only	ADJ
easat-6812	227	10	solution	solution	NOUN
easat-6812	227	11	to	to	PART
easat-6812	227	12	improve	improve	VERB
easat-6812	227	13	firm	firm	ADJ
easat-6812	227	14	performance	performance	NOUN
easat-6812	227	15	,	,	PUNCT
easat-6812	227	16	especially	especially	ADV
easat-6812	227	17	in	in	ADP
easat-6812	227	18	conditions	condition	NOUN
easat-6812	227	19	where	where	SCONJ
easat-6812	227	20	organizational	organizational	ADJ
easat-6812	227	21	readiness	readiness	NOUN
easat-6812	227	22	,	,	PUNCT
easat-6812	227	23	access	access	NOUN
easat-6812	227	24	to	to	ADP
easat-6812	227	25	infrastructure	infrastructure	NOUN
easat-6812	227	26	,	,	PUNCT
easat-6812	227	27	and	and	CCONJ
easat-6812	227	28	policy	policy	NOUN
easat-6812	227	29	support	support	NOUN
easat-6812	227	30	are	be	AUX
easat-6812	227	31	still	still	ADV
easat-6812	227	32	major	major	ADJ
easat-6812	227	33	obstacles	obstacle	NOUN
easat-6812	227	34	.	.	PUNCT
easat-6812	228	1	several	several	ADJ
easat-6812	228	2	factors	factor	NOUN
easat-6812	228	3	that	that	PRON
easat-6812	228	4	can	can	AUX
easat-6812	228	5	explain	explain	VERB
easat-6812	228	6	this	this	DET
easat-6812	228	7	finding	finding	NOUN
easat-6812	228	8	are	be	AUX
easat-6812	228	9	limited	limited	ADJ
easat-6812	228	10	access	access	NOUN
easat-6812	228	11	to	to	ADP
easat-6812	228	12	technological	technological	ADJ
easat-6812	228	13	infrastructure	infrastructure	NOUN
easat-6812	228	14	,	,	PUNCT
easat-6812	228	15	low	low	ADJ
easat-6812	228	16	organizational	organizational	ADJ
easat-6812	228	17	readiness	readiness	NOUN
easat-6812	228	18	,	,	PUNCT
easat-6812	228	19	and	and	CCONJ
easat-6812	228	20	limited	limited	ADJ
easat-6812	228	21	digital	digital	ADJ
easat-6812	228	22	expertise	expertise	NOUN
easat-6812	228	23	within	within	ADP
easat-6812	228	24	the	the	DET
easat-6812	228	25	company	company	NOUN
easat-6812	228	26	.	.	PUNCT
easat-6812	229	1	many	many	ADJ
easat-6812	229	2	companies	company	NOUN
easat-6812	229	3	in	in	ADP
easat-6812	229	4	the	the	DET
easat-6812	229	5	noncyclical	noncyclical	ADJ
easat-6812	229	6	consumer	consumer	NOUN
easat-6812	229	7	sector	sector	NOUN
easat-6812	229	8	are	be	AUX
easat-6812	229	9	still	still	ADV
easat-6812	229	10	more	more	ADV
easat-6812	229	11	focused	focused	ADJ
easat-6812	229	12	on	on	ADP
easat-6812	229	13	product	product	NOUN
easat-6812	229	14	innovation	innovation	NOUN
easat-6812	229	15	than	than	ADP
easat-6812	229	16	on	on	ADP
easat-6812	229	17	changing	change	VERB
easat-6812	229	18	their	their	PRON
easat-6812	229	19	business	business	NOUN
easat-6812	229	20	195	195	NUM
easat-6812	229	21	edelweiss	edelweiss	PROPN
easat-6812	229	22	applied	apply	VERB
easat-6812	229	23	science	science	NOUN
easat-6812	229	24	and	and	CCONJ
easat-6812	229	25	technology	technology	NOUN
easat-6812	229	26	issn	issn	PROPN
easat-6812	229	27	:	:	PUNCT
easat-6812	229	28	2576	2576	NUM
easat-6812	229	29	-	-	SYM
easat-6812	229	30	8484	8484	NUM
easat-6812	229	31	vol	vol	NOUN
easat-6812	229	32	.	.	PROPN
easat-6812	230	1	9	9	NUM
easat-6812	230	2	,	,	PUNCT
easat-6812	230	3	no	no	INTJ
easat-6812	230	4	.	.	NOUN
easat-6812	230	5	5	5	NUM
easat-6812	230	6	:	:	PUNCT
easat-6812	230	7	187	187	NUM
easat-6812	230	8	-	-	SYM
easat-6812	230	9	196	196	NUM
easat-6812	230	10	,	,	PUNCT
easat-6812	230	11	2025	2025	NUM
easat-6812	230	12	doi	doi	NOUN
easat-6812	230	13	:	:	PUNCT
easat-6812	230	14	10.55214/25768484.v9i5.6812	10.55214/25768484.v9i5.6812	NOUN
easat-6812	230	15	©	©	PROPN
easat-6812	230	16	2025	2025	NUM
easat-6812	230	17	by	by	ADP
easat-6812	230	18	the	the	DET
easat-6812	230	19	authors	author	NOUN
easat-6812	230	20	;	;	PUNCT
easat-6812	231	1	licensee	licensee	PROPN
easat-6812	231	2	learning	learn	VERB
easat-6812	231	3	gate	gate	NOUN
easat-6812	231	4	models	model	NOUN
easat-6812	231	5	as	as	ADP
easat-6812	231	6	a	a	DET
easat-6812	231	7	whole	whole	NOUN
easat-6812	231	8	.	.	PUNCT
easat-6812	232	1	this	this	PRON
easat-6812	232	2	causes	cause	VERB
easat-6812	232	3	digital	digital	ADJ
easat-6812	232	4	transformation	transformation	NOUN
easat-6812	232	5	to	to	PART
easat-6812	232	6	often	often	ADV
easat-6812	232	7	only	only	ADV
easat-6812	232	8	be	be	AUX
easat-6812	232	9	implemented	implement	VERB
easat-6812	232	10	partially	partially	ADV
easat-6812	232	11	without	without	ADP
easat-6812	232	12	a	a	DET
easat-6812	232	13	strategy	strategy	NOUN
easat-6812	232	14	that	that	PRON
easat-6812	232	15	is	be	AUX
easat-6812	232	16	truly	truly	ADV
easat-6812	232	17	integrated	integrate	VERB
easat-6812	232	18	with	with	ADP
easat-6812	232	19	long	long	ADJ
easat-6812	232	20	-	-	PUNCT
easat-6812	232	21	term	term	NOUN
easat-6812	232	22	business	business	NOUN
easat-6812	232	23	goals	goal	NOUN
easat-6812	232	24	.	.	PUNCT
easat-6812	233	1	in	in	ADP
easat-6812	233	2	addition	addition	NOUN
easat-6812	233	3	,	,	PUNCT
easat-6812	233	4	older	old	ADJ
easat-6812	233	5	companies	company	NOUN
easat-6812	233	6	,	,	PUNCT
easat-6812	233	7	although	although	SCONJ
easat-6812	233	8	they	they	PRON
easat-6812	233	9	have	have	VERB
easat-6812	233	10	more	more	ADV
easat-6812	233	11	stable	stable	ADJ
easat-6812	233	12	experience	experience	NOUN
easat-6812	233	13	and	and	CCONJ
easat-6812	233	14	resources	resource	NOUN
easat-6812	233	15	,	,	PUNCT
easat-6812	233	16	tend	tend	VERB
easat-6812	233	17	to	to	PART
easat-6812	233	18	be	be	AUX
easat-6812	233	19	slower	slow	ADJ
easat-6812	233	20	to	to	PART
easat-6812	233	21	adopt	adopt	VERB
easat-6812	233	22	technological	technological	ADJ
easat-6812	233	23	changes	change	NOUN
easat-6812	233	24	than	than	ADP
easat-6812	233	25	younger	young	ADJ
easat-6812	233	26	companies	company	NOUN
easat-6812	233	27	and	and	CCONJ
easat-6812	233	28	are	be	AUX
easat-6812	233	29	more	more	ADV
easat-6812	233	30	flexible	flexible	ADJ
easat-6812	233	31	in	in	ADP
easat-6812	233	32	responding	respond	VERB
easat-6812	233	33	to	to	ADP
easat-6812	233	34	market	market	NOUN
easat-6812	233	35	dynamics	dynamic	NOUN
easat-6812	233	36	.	.	PUNCT
easat-6812	234	1	from	from	ADP
easat-6812	234	2	the	the	DET
easat-6812	234	3	external	external	ADJ
easat-6812	234	4	side	side	NOUN
easat-6812	234	5	,	,	PUNCT
easat-6812	234	6	government	government	NOUN
easat-6812	234	7	regulations	regulation	NOUN
easat-6812	234	8	and	and	CCONJ
easat-6812	234	9	policies	policy	NOUN
easat-6812	234	10	also	also	ADV
easat-6812	234	11	play	play	VERB
easat-6812	234	12	an	an	DET
easat-6812	234	13	important	important	ADJ
easat-6812	234	14	role	role	NOUN
easat-6812	234	15	in	in	ADP
easat-6812	234	16	the	the	DET
easat-6812	234	17	success	success	NOUN
easat-6812	234	18	of	of	ADP
easat-6812	234	19	digital	digital	ADJ
easat-6812	234	20	transformation	transformation	NOUN
easat-6812	234	21	.	.	PUNCT
easat-6812	235	1	currently	currently	ADV
easat-6812	235	2	,	,	PUNCT
easat-6812	235	3	incentives	incentive	NOUN
easat-6812	235	4	provided	provide	VERB
easat-6812	235	5	to	to	PART
easat-6812	235	6	encourage	encourage	VERB
easat-6812	235	7	technology	technology	NOUN
easat-6812	235	8	adoption	adoption	NOUN
easat-6812	235	9	in	in	ADP
easat-6812	235	10	the	the	DET
easat-6812	235	11	non	non	ADJ
easat-6812	235	12	-	-	ADJ
easat-6812	235	13	cyclical	cyclical	ADJ
easat-6812	235	14	consumer	consumer	NOUN
easat-6812	235	15	sector	sector	NOUN
easat-6812	235	16	are	be	AUX
easat-6812	235	17	still	still	ADV
easat-6812	235	18	limited	limited	ADJ
easat-6812	235	19	.	.	PUNCT
easat-6812	236	1	in	in	ADP
easat-6812	236	2	fact	fact	NOUN
easat-6812	236	3	,	,	PUNCT
easat-6812	236	4	without	without	ADP
easat-6812	236	5	adequate	adequate	ADJ
easat-6812	236	6	policy	policy	NOUN
easat-6812	236	7	support	support	NOUN
easat-6812	236	8	,	,	PUNCT
easat-6812	236	9	companies	company	NOUN
easat-6812	236	10	with	with	ADP
easat-6812	236	11	financial	financial	ADJ
easat-6812	236	12	constraints	constraint	NOUN
easat-6812	236	13	will	will	AUX
easat-6812	236	14	find	find	VERB
easat-6812	236	15	it	it	PRON
easat-6812	236	16	increasingly	increasingly	ADV
easat-6812	236	17	difficult	difficult	ADJ
easat-6812	236	18	to	to	PART
easat-6812	236	19	invest	invest	VERB
easat-6812	236	20	in	in	ADP
easat-6812	236	21	digitalization	digitalization	NOUN
easat-6812	236	22	.	.	PUNCT
easat-6812	237	1	the	the	DET
easat-6812	237	2	efficacy	efficacy	NOUN
easat-6812	237	3	of	of	ADP
easat-6812	237	4	digital	digital	ADJ
easat-6812	237	5	transformation	transformation	NOUN
easat-6812	237	6	in	in	ADP
easat-6812	237	7	this	this	DET
easat-6812	237	8	industry	industry	NOUN
easat-6812	237	9	is	be	AUX
easat-6812	237	10	made	make	VERB
easat-6812	237	11	worse	bad	ADJ
easat-6812	237	12	by	by	ADP
easat-6812	237	13	differences	difference	NOUN
easat-6812	237	14	in	in	ADP
easat-6812	237	15	the	the	DET
easat-6812	237	16	efficiency	efficiency	NOUN
easat-6812	237	17	of	of	ADP
easat-6812	237	18	digital	digital	ADJ
easat-6812	237	19	infrastructure	infrastructure	NOUN
easat-6812	237	20	throughout	throughout	ADP
easat-6812	237	21	indonesia	indonesia	PROPN
easat-6812	237	22	's	's	PART
easat-6812	237	23	various	various	ADJ
easat-6812	237	24	regions	region	NOUN
easat-6812	237	25	.	.	PUNCT
easat-6812	238	1	these	these	DET
easat-6812	238	2	results	result	NOUN
easat-6812	238	3	have	have	VERB
easat-6812	238	4	significant	significant	ADJ
easat-6812	238	5	impacts	impact	NOUN
easat-6812	238	6	for	for	ADP
easat-6812	238	7	different	different	ADJ
easat-6812	238	8	parties	party	NOUN
easat-6812	238	9	.	.	PUNCT
easat-6812	239	1	for	for	SCONJ
easat-6812	239	2	digital	digital	ADJ
easat-6812	239	3	transformation	transformation	NOUN
easat-6812	239	4	to	to	PART
easat-6812	239	5	have	have	VERB
easat-6812	239	6	a	a	DET
easat-6812	239	7	bigger	big	ADJ
easat-6812	239	8	impact	impact	NOUN
easat-6812	239	9	on	on	ADP
easat-6812	239	10	business	business	NOUN
easat-6812	239	11	performance	performance	NOUN
easat-6812	239	12	,	,	PUNCT
easat-6812	239	13	firms	firm	NOUN
easat-6812	239	14	must	must	AUX
easat-6812	239	15	establish	establish	VERB
easat-6812	239	16	a	a	DET
easat-6812	239	17	stronger	strong	ADJ
easat-6812	239	18	financial	financial	ADJ
easat-6812	239	19	control	control	NOUN
easat-6812	239	20	plan	plan	NOUN
easat-6812	239	21	.	.	PUNCT
easat-6812	240	1	another	another	DET
easat-6812	240	2	significant	significant	ADJ
easat-6812	240	3	aspect	aspect	NOUN
easat-6812	240	4	of	of	ADP
easat-6812	240	5	this	this	DET
easat-6812	240	6	transformation	transformation	NOUN
easat-6812	240	7	's	's	PART
easat-6812	240	8	success	success	NOUN
easat-6812	240	9	is	be	AUX
easat-6812	240	10	improving	improve	VERB
easat-6812	240	11	the	the	DET
easat-6812	240	12	company	company	NOUN
easat-6812	240	13	's	's	PART
easat-6812	240	14	capabilities	capability	NOUN
easat-6812	240	15	for	for	ADP
easat-6812	240	16	utilizing	utilize	VERB
easat-6812	240	17	and	and	CCONJ
easat-6812	240	18	controlling	control	VERB
easat-6812	240	19	digital	digital	ADJ
easat-6812	240	20	technology	technology	NOUN
easat-6812	240	21	.	.	PUNCT
easat-6812	241	1	a	a	DET
easat-6812	241	2	company	company	NOUN
easat-6812	241	3	's	's	PART
easat-6812	241	4	growth	growth	NOUN
easat-6812	241	5	and	and	CCONJ
easat-6812	241	6	competitiveness	competitiveness	NOUN
easat-6812	241	7	may	may	AUX
easat-6812	241	8	be	be	AUX
easat-6812	241	9	affected	affect	VERB
easat-6812	241	10	by	by	ADP
easat-6812	241	11	a	a	DET
easat-6812	241	12	lack	lack	NOUN
easat-6812	241	13	of	of	ADP
easat-6812	241	14	funding	funding	NOUN
easat-6812	241	15	and	and	CCONJ
easat-6812	241	16	a	a	DET
easat-6812	241	17	deficiency	deficiency	NOUN
easat-6812	241	18	of	of	ADP
easat-6812	241	19	digital	digital	ADJ
easat-6812	241	20	readiness	readiness	NOUN
easat-6812	241	21	,	,	PUNCT
easat-6812	241	22	as	as	ADP
easat-6812	241	23	a	a	DET
easat-6812	241	24	result	result	NOUN
easat-6812	241	25	,	,	PUNCT
easat-6812	241	26	investors	investor	NOUN
easat-6812	241	27	must	must	AUX
easat-6812	241	28	think	think	VERB
easat-6812	241	29	about	about	ADP
easat-6812	241	30	these	these	DET
easat-6812	241	31	factors	factor	NOUN
easat-6812	241	32	before	before	ADP
easat-6812	241	33	investing	invest	VERB
easat-6812	241	34	.	.	PUNCT
easat-6812	242	1	in	in	ADP
easat-6812	242	2	the	the	DET
easat-6812	242	3	meantime	meantime	NOUN
easat-6812	242	4	,	,	PUNCT
easat-6812	242	5	the	the	DET
easat-6812	242	6	government	government	NOUN
easat-6812	242	7	needs	need	VERB
easat-6812	242	8	to	to	PART
easat-6812	242	9	improve	improve	VERB
easat-6812	242	10	incentives	incentive	NOUN
easat-6812	242	11	and	and	CCONJ
easat-6812	242	12	speed	speed	VERB
easat-6812	242	13	up	up	ADP
easat-6812	242	14	the	the	DET
easat-6812	242	15	development	development	NOUN
easat-6812	242	16	of	of	ADP
easat-6812	242	17	digital	digital	ADJ
easat-6812	242	18	infrastructure	infrastructure	NOUN
easat-6812	242	19	to	to	PART
easat-6812	242	20	make	make	VERB
easat-6812	242	21	it	it	PRON
easat-6812	242	22	easier	easy	ADJ
easat-6812	242	23	for	for	SCONJ
easat-6812	242	24	companies	company	NOUN
easat-6812	242	25	,	,	PUNCT
easat-6812	242	26	especially	especially	ADV
easat-6812	242	27	those	those	PRON
easat-6812	242	28	with	with	ADP
easat-6812	242	29	limited	limited	ADJ
easat-6812	242	30	funds	fund	NOUN
easat-6812	242	31	,	,	PUNCT
easat-6812	242	32	to	to	PART
easat-6812	242	33	implement	implement	VERB
easat-6812	242	34	technology	technology	NOUN
easat-6812	242	35	successfully	successfully	ADV
easat-6812	242	36	.	.	PUNCT
easat-6812	243	1	overall	overall	ADV
easat-6812	243	2	,	,	PUNCT
easat-6812	243	3	the	the	DET
easat-6812	243	4	advantages	advantage	NOUN
easat-6812	243	5	of	of	ADP
easat-6812	243	6	digital	digital	ADJ
easat-6812	243	7	transformation	transformation	NOUN
easat-6812	243	8	in	in	ADP
easat-6812	243	9	indonesia	indonesia	PROPN
easat-6812	243	10	's	's	PART
easat-6812	243	11	non	non	ADJ
easat-6812	243	12	-	-	ADJ
easat-6812	243	13	cyclical	cyclical	ADJ
easat-6812	243	14	consumer	consumer	NOUN
easat-6812	243	15	sector	sector	NOUN
easat-6812	243	16	have	have	AUX
easat-6812	243	17	not	not	PART
easat-6812	243	18	yet	yet	ADV
easat-6812	243	19	been	be	AUX
easat-6812	243	20	completely	completely	ADV
easat-6812	243	21	realized	realize	VERB
easat-6812	243	22	,	,	PUNCT
easat-6812	243	23	even	even	ADV
easat-6812	243	24	though	though	SCONJ
easat-6812	243	25	it	it	PRON
easat-6812	243	26	has	have	VERB
easat-6812	243	27	huge	huge	ADJ
easat-6812	243	28	potential	potential	NOUN
easat-6812	243	29	to	to	PART
easat-6812	243	30	increase	increase	VERB
easat-6812	243	31	company	company	NOUN
easat-6812	243	32	profitability	profitability	NOUN
easat-6812	243	33	and	and	CCONJ
easat-6812	243	34	competitiveness	competitiveness	NOUN
easat-6812	243	35	.	.	PUNCT
easat-6812	244	1	companies	company	NOUN
easat-6812	244	2	,	,	PUNCT
easat-6812	244	3	investors	investor	NOUN
easat-6812	244	4	,	,	PUNCT
easat-6812	244	5	and	and	CCONJ
easat-6812	244	6	the	the	DET
easat-6812	244	7	government	government	NOUN
easat-6812	244	8	need	need	VERB
easat-6812	244	9	to	to	PART
easat-6812	244	10	collaborate	collaborate	VERB
easat-6812	244	11	closely	closely	ADV
easat-6812	244	12	to	to	PART
easat-6812	244	13	overcome	overcome	VERB
easat-6812	244	14	funding	funding	NOUN
easat-6812	244	15	challenges	challenge	NOUN
easat-6812	244	16	,	,	PUNCT
easat-6812	244	17	improve	improve	VERB
easat-6812	244	18	organizational	organizational	ADJ
easat-6812	244	19	preparedness	preparedness	NOUN
easat-6812	244	20	,	,	PUNCT
easat-6812	244	21	and	and	CCONJ
easat-6812	244	22	build	build	VERB
easat-6812	244	23	an	an	DET
easat-6812	244	24	environment	environment	NOUN
easat-6812	244	25	that	that	PRON
easat-6812	244	26	supports	support	VERB
easat-6812	244	27	sustainable	sustainable	ADJ
easat-6812	244	28	digital	digital	ADJ
easat-6812	244	29	transformation	transformation	NOUN
easat-6812	244	30	to	to	PART
easat-6812	244	31	get	get	VERB
easat-6812	244	32	the	the	DET
easat-6812	244	33	best	good	ADJ
easat-6812	244	34	results	result	NOUN
easat-6812	244	35	.	.	PUNCT
easat-6812	245	1	transparency	transparency	NOUN
easat-6812	245	2	:	:	PUNCT
easat-6812	245	3	the	the	DET
easat-6812	245	4	authors	author	NOUN
easat-6812	245	5	confirm	confirm	VERB
easat-6812	245	6	that	that	SCONJ
easat-6812	245	7	the	the	DET
easat-6812	245	8	manuscript	manuscript	NOUN
easat-6812	245	9	is	be	AUX
easat-6812	245	10	an	an	DET
easat-6812	245	11	honest	honest	ADJ
easat-6812	245	12	,	,	PUNCT
easat-6812	245	13	accurate	accurate	ADJ
easat-6812	245	14	,	,	PUNCT
easat-6812	245	15	and	and	CCONJ
easat-6812	245	16	transparent	transparent	ADJ
easat-6812	245	17	account	account	NOUN
easat-6812	245	18	of	of	ADP
easat-6812	245	19	the	the	DET
easat-6812	245	20	study	study	NOUN
easat-6812	245	21	;	;	PUNCT
easat-6812	245	22	that	that	SCONJ
easat-6812	245	23	no	no	DET
easat-6812	245	24	vital	vital	ADJ
easat-6812	245	25	features	feature	NOUN
easat-6812	245	26	of	of	ADP
easat-6812	245	27	the	the	DET
easat-6812	245	28	study	study	NOUN
easat-6812	245	29	have	have	AUX
easat-6812	245	30	been	be	AUX
easat-6812	245	31	omitted	omit	VERB
easat-6812	245	32	;	;	PUNCT
easat-6812	245	33	and	and	CCONJ
easat-6812	245	34	that	that	SCONJ
easat-6812	245	35	any	any	DET
easat-6812	245	36	discrepancies	discrepancy	NOUN
easat-6812	245	37	from	from	ADP
easat-6812	245	38	the	the	DET
easat-6812	245	39	study	study	NOUN
easat-6812	245	40	as	as	SCONJ
easat-6812	245	41	planned	plan	VERB
easat-6812	245	42	have	have	AUX
easat-6812	245	43	been	be	AUX
easat-6812	245	44	explained	explain	VERB
easat-6812	245	45	.	.	PUNCT
easat-6812	246	1	this	this	DET
easat-6812	246	2	study	study	NOUN
easat-6812	246	3	followed	follow	VERB
easat-6812	246	4	all	all	DET
easat-6812	246	5	ethical	ethical	ADJ
easat-6812	246	6	practices	practice	NOUN
easat-6812	246	7	during	during	ADP
easat-6812	246	8	writing	writing	NOUN
easat-6812	246	9	.	.	PUNCT
easat-6812	247	1	copyright	copyright	NOUN
easat-6812	247	2	:	:	PUNCT
easat-6812	247	3	©	©	PROPN
easat-6812	247	4	2025	2025	NUM
easat-6812	247	5	by	by	ADP
easat-6812	247	6	the	the	DET
easat-6812	247	7	authors	author	NOUN
easat-6812	247	8	.	.	PUNCT
easat-6812	248	1	this	this	DET
easat-6812	248	2	open	open	ADJ
easat-6812	248	3	-	-	PUNCT
easat-6812	248	4	access	access	NOUN
easat-6812	248	5	article	article	NOUN
easat-6812	248	6	is	be	AUX
easat-6812	248	7	distributed	distribute	VERB
easat-6812	248	8	under	under	ADP
easat-6812	248	9	the	the	DET
easat-6812	248	10	terms	term	NOUN
easat-6812	248	11	and	and	CCONJ
easat-6812	248	12	conditions	condition	NOUN
easat-6812	248	13	of	of	ADP
easat-6812	248	14	the	the	DET
easat-6812	248	15	creative	creative	ADJ
easat-6812	248	16	commons	common	NOUN
easat-6812	248	17	attribution	attribution	NOUN
easat-6812	248	18	(	(	PUNCT
easat-6812	248	19	cc	cc	NOUN
easat-6812	248	20	by	by	ADP
easat-6812	248	21	)	)	PUNCT
easat-6812	248	22	license	license	NOUN
easat-6812	248	23	(	(	PUNCT
easat-6812	248	24	https://creativecommons.org/licenses/by/4.0/	https://creativecommons.org/licenses/by/4.0/	PROPN
easat-6812	248	25	)	)	PUNCT
easat-6812	248	26	.	.	PUNCT
easat-6812	249	1	references	reference	NOUN
easat-6812	249	2	[	[	X
easat-6812	249	3	1	1	X
easat-6812	249	4	]	]	PUNCT
easat-6812	249	5	s.	s.	PROPN
easat-6812	249	6	utami	utami	PROPN
easat-6812	249	7	,	,	PUNCT
easat-6812	249	8	the	the	DET
easat-6812	249	9	impact	impact	NOUN
easat-6812	249	10	of	of	ADP
easat-6812	249	11	economic	economic	ADJ
easat-6812	249	12	crises	crisis	NOUN
easat-6812	249	13	on	on	ADP
easat-6812	249	14	the	the	DET
easat-6812	249	15	non	non	ADJ
easat-6812	249	16	-	-	ADJ
easat-6812	249	17	cyclical	cyclical	ADJ
easat-6812	249	18	consumer	consumer	NOUN
easat-6812	249	19	sector	sector	NOUN
easat-6812	249	20	:	:	PUNCT
easat-6812	249	21	a	a	DET
easat-6812	249	22	defensive	defensive	ADJ
easat-6812	249	23	strategy	strategy	NOUN
easat-6812	249	24	.	.	PUNCT
easat-6812	250	1	jakarta	jakarta	PROPN
easat-6812	250	2	,	,	PUNCT
easat-6812	250	3	indonesia	indonesia	PROPN
easat-6812	250	4	:	:	PUNCT
easat-6812	250	5	springer	springer	NOUN
easat-6812	250	6	,	,	PUNCT
easat-6812	250	7	2020	2020	NUM
easat-6812	250	8	.	.	PUNCT
easat-6812	251	1	[	[	X
easat-6812	251	2	2	2	NUM
easat-6812	251	3	]	]	PUNCT
easat-6812	251	4	a.	a.	NOUN
easat-6812	251	5	surtiningsih	surtiningsih	NOUN
easat-6812	251	6	and	and	CCONJ
easat-6812	251	7	l.	l.	PROPN
easat-6812	251	8	wijaksana	wijaksana	PROPN
easat-6812	251	9	,	,	PUNCT
easat-6812	251	10	opportunities	opportunity	NOUN
easat-6812	251	11	and	and	CCONJ
easat-6812	251	12	challenges	challenge	NOUN
easat-6812	251	13	for	for	ADP
easat-6812	251	14	non	non	ADJ
easat-6812	251	15	-	-	ADJ
easat-6812	251	16	cyclical	cyclical	ADJ
easat-6812	251	17	consumer	consumer	NOUN
easat-6812	251	18	companies	company	NOUN
easat-6812	251	19	in	in	ADP
easat-6812	251	20	unstable	unstable	ADJ
easat-6812	251	21	economic	economic	ADJ
easat-6812	251	22	conditions	condition	NOUN
easat-6812	251	23	.	.	PUNCT
easat-6812	252	1	jakarta	jakarta	PROPN
easat-6812	252	2	,	,	PUNCT
easat-6812	252	3	indonesia	indonesia	PROPN
easat-6812	252	4	:	:	PUNCT
easat-6812	252	5	gramedia	gramedia	NOUN
easat-6812	252	6	pustaka	pustaka	ADJ
easat-6812	252	7	utama	utama	PROPN
easat-6812	252	8	,	,	PUNCT
easat-6812	252	9	2015	2015	NUM
easat-6812	252	10	.	.	PUNCT
easat-6812	253	1	[	[	X
easat-6812	253	2	3	3	NUM
easat-6812	253	3	]	]	X
easat-6812	253	4	i.	i.	PROPN
easat-6812	253	5	h.	h.	PROPN
easat-6812	253	6	cheng	cheng	PROPN
easat-6812	253	7	,	,	PUNCT
easat-6812	253	8	c.	c.	PROPN
easat-6812	253	9	a.	a.	PROPN
easat-6812	253	10	hennessy	hennessy	PROPN
easat-6812	253	11	,	,	PUNCT
easat-6812	253	12	and	and	CCONJ
easat-6812	253	13	t.	t.	PROPN
easat-6812	253	14	m.	m.	NOUN
easat-6812	253	15	whited	white	VERB
easat-6812	253	16	,	,	PUNCT
easat-6812	253	17	"	"	PUNCT
easat-6812	253	18	external	external	ADJ
easat-6812	253	19	financing	financing	NOUN
easat-6812	253	20	and	and	CCONJ
easat-6812	253	21	the	the	DET
easat-6812	253	22	dynamics	dynamic	NOUN
easat-6812	253	23	of	of	ADP
easat-6812	253	24	cash	cash	NOUN
easat-6812	253	25	holdings	holding	NOUN
easat-6812	253	26	,	,	PUNCT
easat-6812	253	27	"	"	PUNCT
easat-6812	253	28	review	review	NOUN
easat-6812	253	29	of	of	ADP
easat-6812	253	30	financial	financial	ADJ
easat-6812	253	31	studies	study	NOUN
easat-6812	253	32	,	,	PUNCT
easat-6812	253	33	vol	vol	NOUN
easat-6812	253	34	.	.	PROPN
easat-6812	253	35	27	27	NUM
easat-6812	253	36	,	,	PUNCT
easat-6812	253	37	no	no	INTJ
easat-6812	253	38	.	.	NOUN
easat-6812	254	1	3	3	NUM
easat-6812	254	2	,	,	PUNCT
easat-6812	254	3	pp	pp	ADJ
easat-6812	254	4	.	.	PUNCT
easat-6812	255	1	671–710	671–710	NUM
easat-6812	255	2	,	,	PUNCT
easat-6812	255	3	2014	2014	NUM
easat-6812	255	4	.	.	PUNCT
easat-6812	256	1	[	[	X
easat-6812	256	2	4	4	X
easat-6812	256	3	]	]	PUNCT
easat-6812	256	4	c.	c.	PROPN
easat-6812	256	5	a.	a.	PROPN
easat-6812	256	6	hennessy	hennessy	PROPN
easat-6812	256	7	and	and	CCONJ
easat-6812	256	8	t.	t.	PROPN
easat-6812	256	9	m.	m.	NOUN
easat-6812	256	10	whited	white	VERB
easat-6812	256	11	,	,	PUNCT
easat-6812	256	12	"	"	PUNCT
easat-6812	256	13	how	how	SCONJ
easat-6812	256	14	costly	costly	ADJ
easat-6812	256	15	is	be	AUX
easat-6812	256	16	external	external	ADJ
easat-6812	256	17	financing	financing	NOUN
easat-6812	256	18	?	?	PUNCT
easat-6812	257	1	evidence	evidence	NOUN
easat-6812	257	2	from	from	ADP
easat-6812	257	3	a	a	DET
easat-6812	257	4	structural	structural	ADJ
easat-6812	257	5	estimation	estimation	NOUN
easat-6812	257	6	,	,	PUNCT
easat-6812	257	7	"	"	PUNCT
easat-6812	257	8	the	the	DET
easat-6812	257	9	journal	journal	NOUN
easat-6812	257	10	of	of	ADP
easat-6812	257	11	finance	finance	NOUN
easat-6812	257	12	,	,	PUNCT
easat-6812	257	13	vol	vol	NOUN
easat-6812	257	14	.	.	PROPN
easat-6812	257	15	62	62	NUM
easat-6812	257	16	,	,	PUNCT
easat-6812	257	17	no	no	INTJ
easat-6812	257	18	.	.	NOUN
easat-6812	257	19	4	4	NUM
easat-6812	257	20	,	,	PUNCT
easat-6812	257	21	pp	pp	ADJ
easat-6812	257	22	.	.	PUNCT
easat-6812	257	23	1705–1745	1705–1745	NUM
easat-6812	257	24	,	,	PUNCT
easat-6812	257	25	2007	2007	NUM
easat-6812	257	26	.	.	PUNCT
easat-6812	258	1	[	[	X
easat-6812	258	2	5	5	X
easat-6812	258	3	]	]	PUNCT
easat-6812	258	4	m.	m.	NOUN
easat-6812	258	5	a.	a.	PROPN
easat-6812	258	6	putra	putra	PROPN
easat-6812	258	7	,	,	PUNCT
easat-6812	258	8	"	"	PUNCT
easat-6812	258	9	impact	impact	NOUN
easat-6812	258	10	of	of	ADP
easat-6812	258	11	digital	digital	ADJ
easat-6812	258	12	transformation	transformation	NOUN
easat-6812	258	13	and	and	CCONJ
easat-6812	258	14	big	big	ADJ
easat-6812	258	15	data	datum	NOUN
easat-6812	258	16	analytic	analytic	ADJ
easat-6812	258	17	capabilities	capability	NOUN
easat-6812	258	18	on	on	ADP
easat-6812	258	19	the	the	DET
easat-6812	258	20	indonesian	indonesian	PROPN
easat-6812	258	21	bank	bank	PROPN
easat-6812	258	22	profitability	profitability	NOUN
easat-6812	258	23	,	,	PUNCT
easat-6812	258	24	"	"	PUNCT
easat-6812	258	25	journal	journal	NOUN
easat-6812	258	26	of	of	ADP
easat-6812	258	27	economics	economic	NOUN
easat-6812	258	28	,	,	PUNCT
easat-6812	258	29	business	business	NOUN
easat-6812	258	30	,	,	PUNCT
easat-6812	258	31	&	&	CCONJ
easat-6812	258	32	accountancy	accountancy	PROPN
easat-6812	258	33	ventura	ventura	PROPN
easat-6812	258	34	,	,	PUNCT
easat-6812	258	35	vol	vol	NOUN
easat-6812	258	36	.	.	PROPN
easat-6812	258	37	25	25	NUM
easat-6812	258	38	,	,	PUNCT
easat-6812	258	39	no	no	INTJ
easat-6812	258	40	.	.	NOUN
easat-6812	258	41	2	2	NUM
easat-6812	258	42	,	,	PUNCT
easat-6812	258	43	pp	pp	ADJ
easat-6812	258	44	.	.	PUNCT
easat-6812	259	1	135	135	NUM
easat-6812	259	2	-	-	SYM
easat-6812	259	3	144	144	NUM
easat-6812	259	4	,	,	PUNCT
easat-6812	259	5	2022	2022	NUM
easat-6812	259	6	.	.	PUNCT
easat-6812	260	1	https://doi.org/10.14414/jebav.v25i2.3121	https://doi.org/10.14414/jebav.v25i2.3121	VERB
easat-6812	260	2	[	[	PUNCT
easat-6812	260	3	6	6	NUM
easat-6812	260	4	]	]	PUNCT
easat-6812	260	5	b.	b.	PROPN
easat-6812	260	6	kaplan	kaplan	PROPN
easat-6812	260	7	,	,	PUNCT
easat-6812	260	8	p.	p.	NOUN
easat-6812	260	9	waste	waste	PROPN
easat-6812	260	10	,	,	PUNCT
easat-6812	260	11	t.	t.	NOUN
easat-6812	260	12	wood	wood	NOUN
easat-6812	260	13	-	-	PUNCT
easat-6812	260	14	harper	harper	NOUN
easat-6812	260	15	,	,	PUNCT
easat-6812	260	16	and	and	CCONJ
easat-6812	260	17	j.	j.	PROPN
easat-6812	260	18	degross	degross	PROPN
easat-6812	260	19	,	,	PUNCT
easat-6812	260	20	"	"	PUNCT
easat-6812	260	21	digital	digital	ADJ
easat-6812	260	22	transformation	transformation	NOUN
easat-6812	260	23	:	:	PUNCT
easat-6812	260	24	the	the	DET
easat-6812	260	25	application	application	NOUN
easat-6812	260	26	of	of	ADP
easat-6812	260	27	digital	digital	ADJ
easat-6812	260	28	technology	technology	NOUN
easat-6812	260	29	across	across	ADP
easat-6812	260	30	various	various	ADJ
easat-6812	260	31	aspects	aspect	NOUN
easat-6812	260	32	of	of	ADP
easat-6812	260	33	society	society	NOUN
easat-6812	260	34	,	,	PUNCT
easat-6812	260	35	"	"	PUNCT
easat-6812	260	36	journal	journal	NOUN
easat-6812	260	37	of	of	ADP
easat-6812	260	38	information	information	NOUN
easat-6812	260	39	technology	technology	NOUN
easat-6812	260	40	,	,	PUNCT
easat-6812	260	41	vol	vol	NOUN
easat-6812	260	42	.	.	PROPN
easat-6812	261	1	19	19	NUM
easat-6812	261	2	,	,	PUNCT
easat-6812	261	3	no	no	INTJ
easat-6812	261	4	.	.	NOUN
easat-6812	261	5	2	2	NUM
easat-6812	261	6	,	,	PUNCT
easat-6812	261	7	pp	pp	ADJ
easat-6812	261	8	.	.	PUNCT
easat-6812	262	1	111–123	111–123	NUM
easat-6812	262	2	,	,	PUNCT
easat-6812	262	3	2004	2004	NUM
easat-6812	262	4	.	.	PUNCT
easat-6812	263	1	[	[	X
easat-6812	263	2	7	7	X
easat-6812	263	3	]	]	X
easat-6812	263	4	y.	y.	PROPN
easat-6812	263	5	yoo	yoo	PROPN
easat-6812	263	6	,	,	PUNCT
easat-6812	263	7	r.	r.	PROPN
easat-6812	263	8	j.	j.	PROPN
easat-6812	263	9	boland	boland	PROPN
easat-6812	263	10	,	,	PUNCT
easat-6812	263	11	k.	k.	PROPN
easat-6812	263	12	lyytinen	lyytinen	PROPN
easat-6812	263	13	,	,	PUNCT
easat-6812	263	14	and	and	CCONJ
easat-6812	263	15	a.	a.	PROPN
easat-6812	263	16	majchrzak	majchrzak	PROPN
easat-6812	263	17	,	,	PUNCT
easat-6812	263	18	"	"	PUNCT
easat-6812	263	19	organizing	organize	VERB
easat-6812	263	20	for	for	ADP
easat-6812	263	21	innovation	innovation	NOUN
easat-6812	263	22	in	in	ADP
easat-6812	263	23	digital	digital	ADJ
easat-6812	263	24	transformation	transformation	NOUN
easat-6812	263	25	:	:	PUNCT
easat-6812	263	26	a	a	DET
easat-6812	263	27	framework	framework	NOUN
easat-6812	263	28	and	and	CCONJ
easat-6812	263	29	insights	insight	NOUN
easat-6812	263	30	,	,	PUNCT
easat-6812	263	31	"	"	PUNCT
easat-6812	263	32	journal	journal	NOUN
easat-6812	263	33	of	of	ADP
easat-6812	263	34	strategic	strategic	ADJ
easat-6812	263	35	information	information	NOUN
easat-6812	263	36	systems	system	NOUN
easat-6812	263	37	,	,	PUNCT
easat-6812	263	38	vol	vol	NOUN
easat-6812	263	39	.	.	PROPN
easat-6812	263	40	21	21	NUM
easat-6812	263	41	,	,	PUNCT
easat-6812	263	42	no	no	INTJ
easat-6812	263	43	.	.	NOUN
easat-6812	263	44	3	3	NUM
easat-6812	263	45	,	,	PUNCT
easat-6812	263	46	pp	pp	ADJ
easat-6812	263	47	.	.	PUNCT
easat-6812	264	1	235–247	235–247	NUM
easat-6812	264	2	,	,	PUNCT
easat-6812	264	3	2012	2012	NUM
easat-6812	264	4	.	.	PUNCT
easat-6812	265	1	[	[	X
easat-6812	265	2	8	8	X
easat-6812	265	3	]	]	X
easat-6812	265	4	h.	h.	PROPN
easat-6812	265	5	liu	liu	PROPN
easat-6812	265	6	and	and	CCONJ
easat-6812	265	7	c.	c.	PROPN
easat-6812	265	8	xu	xu	PROPN
easat-6812	265	9	,	,	PUNCT
easat-6812	265	10	"	"	PUNCT
easat-6812	265	11	do	do	AUX
easat-6812	265	12	sin	sin	NOUN
easat-6812	265	13	firms	firm	NOUN
easat-6812	265	14	commit	commit	VERB
easat-6812	265	15	accounting	accounting	NOUN
easat-6812	265	16	sins	sin	NOUN
easat-6812	265	17	?	?	PUNCT
easat-6812	265	18	,	,	PUNCT
easat-6812	265	19	"	"	PUNCT
easat-6812	265	20	journal	journal	NOUN
easat-6812	265	21	of	of	ADP
easat-6812	265	22	accounting	accounting	NOUN
easat-6812	265	23	,	,	PUNCT
easat-6812	265	24	business	business	NOUN
easat-6812	265	25	and	and	CCONJ
easat-6812	265	26	management	management	NOUN
easat-6812	265	27	,	,	PUNCT
easat-6812	265	28	vol	vol	NOUN
easat-6812	265	29	.	.	PROPN
easat-6812	265	30	30	30	NUM
easat-6812	265	31	,	,	PUNCT
easat-6812	265	32	no	no	INTJ
easat-6812	265	33	.	.	NOUN
easat-6812	265	34	2	2	NUM
easat-6812	265	35	,	,	PUNCT
easat-6812	265	36	pp	pp	ADJ
easat-6812	265	37	.	.	PUNCT
easat-6812	266	1	1	1	NUM
easat-6812	266	2	-	-	SYM
easat-6812	266	3	18	18	NUM
easat-6812	266	4	,	,	PUNCT
easat-6812	266	5	2023	2023	NUM
easat-6812	266	6	.	.	PUNCT
easat-6812	267	1	[	[	X
easat-6812	267	2	9	9	NUM
easat-6812	267	3	]	]	X
easat-6812	267	4	d.	d.	PROPN
easat-6812	267	5	j.	j.	PROPN
easat-6812	267	6	teece	teece	PROPN
easat-6812	267	7	,	,	PUNCT
easat-6812	267	8	g.	g.	PROPN
easat-6812	267	9	pisano	pisano	PROPN
easat-6812	267	10	,	,	PUNCT
easat-6812	267	11	and	and	CCONJ
easat-6812	267	12	a.	a.	NOUN
easat-6812	267	13	shuen	shuen	NOUN
easat-6812	267	14	,	,	PUNCT
easat-6812	267	15	"	"	PUNCT
easat-6812	267	16	dynamic	dynamic	ADJ
easat-6812	267	17	capabilities	capability	NOUN
easat-6812	267	18	and	and	CCONJ
easat-6812	267	19	strategic	strategic	ADJ
easat-6812	267	20	management	management	NOUN
easat-6812	267	21	,	,	PUNCT
easat-6812	267	22	"	"	PUNCT
easat-6812	267	23	strategic	strategic	ADJ
easat-6812	267	24	management	management	NOUN
easat-6812	267	25	journal	journal	NOUN
easat-6812	267	26	,	,	PUNCT
easat-6812	267	27	vol	vol	NOUN
easat-6812	267	28	.	.	PROPN
easat-6812	267	29	18	18	NUM
easat-6812	267	30	,	,	PUNCT
easat-6812	267	31	no	no	INTJ
easat-6812	267	32	.	.	NOUN
easat-6812	267	33	7	7	NUM
easat-6812	267	34	,	,	PUNCT
easat-6812	267	35	pp	pp	ADJ
easat-6812	267	36	.	.	PUNCT
easat-6812	268	1	509–533	509–533	NUM
easat-6812	268	2	,	,	PUNCT
easat-6812	268	3	1997	1997	NUM
easat-6812	268	4	.	.	PUNCT
easat-6812	269	1	https://creativecommons.org/licenses/by/4.0/	https://creativecommons.org/licenses/by/4.0/	PROPN
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easat-6812	269	3	196	196	NUM
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easat-6812	269	11	2576	2576	NUM
easat-6812	269	12	-	-	SYM
easat-6812	269	13	8484	8484	NUM
easat-6812	269	14	vol	vol	NOUN
easat-6812	269	15	.	.	PROPN
easat-6812	270	1	9	9	NUM
easat-6812	270	2	,	,	PUNCT
easat-6812	270	3	no	no	INTJ
easat-6812	270	4	.	.	NOUN
easat-6812	270	5	5	5	NUM
easat-6812	270	6	:	:	PUNCT
easat-6812	270	7	187	187	NUM
easat-6812	270	8	-	-	SYM
easat-6812	270	9	196	196	NUM
easat-6812	270	10	,	,	PUNCT
easat-6812	270	11	2025	2025	NUM
easat-6812	270	12	doi	doi	NOUN
easat-6812	270	13	:	:	PUNCT
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easat-6812	270	18	the	the	DET
easat-6812	270	19	authors	author	NOUN
easat-6812	270	20	;	;	PUNCT
easat-6812	270	21	licensee	licensee	PROPN
easat-6812	270	22	learning	learning	NOUN
easat-6812	270	23	gate	gate	NOUN
easat-6812	271	1	[	[	X
easat-6812	271	2	10	10	NUM
easat-6812	271	3	]	]	X
easat-6812	271	4	f.	f.	PROPN
easat-6812	271	5	men	men	PROPN
easat-6812	271	6	,	,	PUNCT
easat-6812	271	7	f.	f.	PROPN
easat-6812	271	8	dong	dong	PROPN
easat-6812	271	9	,	,	PUNCT
easat-6812	271	10	y.	y.	PROPN
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easat-6812	271	12	,	,	PUNCT
easat-6812	271	13	and	and	CCONJ
easat-6812	271	14	h.	h.	PROPN
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easat-6812	271	17	"	"	PUNCT
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easat-6812	271	19	on	on	ADP
easat-6812	271	20	the	the	DET
easat-6812	271	21	impact	impact	NOUN
easat-6812	271	22	of	of	ADP
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easat-6812	271	24	transformation	transformation	NOUN
easat-6812	271	25	on	on	ADP
easat-6812	271	26	the	the	DET
easat-6812	271	27	product	product	NOUN
easat-6812	271	28	r&d	r&d	NOUN
easat-6812	271	29	performance	performance	NOUN
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easat-6812	271	32	enterprises	enterprise	NOUN
easat-6812	271	33	from	from	ADP
easat-6812	271	34	the	the	DET
easat-6812	271	35	perspective	perspective	NOUN
easat-6812	271	36	of	of	ADP
easat-6812	271	37	the	the	DET
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easat-6812	271	39	ecosystem	ecosystem	NOUN
easat-6812	271	40	,	,	PUNCT
easat-6812	271	41	"	"	PUNCT
easat-6812	271	42	sustainability	sustainability	NOUN
easat-6812	271	43	,	,	PUNCT
easat-6812	271	44	vol	vol	NOUN
easat-6812	271	45	.	.	PROPN
easat-6812	271	46	15	15	NUM
easat-6812	271	47	,	,	PUNCT
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easat-6812	271	49	.	.	NOUN
easat-6812	271	50	7	7	NUM
easat-6812	271	51	,	,	PUNCT
easat-6812	271	52	p.	p.	NOUN
easat-6812	271	53	6265	6265	NUM
easat-6812	271	54	,	,	PUNCT
easat-6812	271	55	2023	2023	NUM
easat-6812	271	56	.	.	PUNCT
easat-6812	272	1	https://doi.org/10.3390/su15076265	https://doi.org/10.3390/su15076265	X
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easat-6812	273	2	11	11	NUM
easat-6812	273	3	]	]	X
easat-6812	273	4	c.	c.	PROPN
easat-6812	273	5	j.	j.	PROPN
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easat-6812	273	7	and	and	CCONJ
easat-6812	273	8	j.	j.	PROPN
easat-6812	273	9	r.	r.	PROPN
easat-6812	273	10	pierce	pierce	PROPN
easat-6812	273	11	,	,	PUNCT
easat-6812	273	12	"	"	PUNCT
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easat-6812	273	14	evidence	evidence	NOUN
easat-6812	273	15	on	on	ADP
easat-6812	273	16	measuring	measure	VERB
easat-6812	273	17	financial	financial	ADJ
easat-6812	273	18	constraints	constraint	NOUN
easat-6812	273	19	:	:	PUNCT
easat-6812	273	20	moving	move	VERB
easat-6812	273	21	beyond	beyond	ADP
easat-6812	273	22	the	the	DET
easat-6812	273	23	kz	kz	PROPN
easat-6812	273	24	index	index	NOUN
easat-6812	273	25	,	,	PUNCT
easat-6812	273	26	"	"	PUNCT
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easat-6812	273	28	of	of	ADP
easat-6812	273	29	financial	financial	ADJ
easat-6812	273	30	studies	study	NOUN
easat-6812	273	31	,	,	PUNCT
easat-6812	273	32	vol	vol	NOUN
easat-6812	273	33	.	.	PROPN
easat-6812	273	34	23	23	NUM
easat-6812	273	35	,	,	PUNCT
easat-6812	273	36	no	no	INTJ
easat-6812	273	37	.	.	NOUN
easat-6812	273	38	5	5	NUM
easat-6812	273	39	,	,	PUNCT
easat-6812	273	40	pp	pp	ADJ
easat-6812	273	41	.	.	PUNCT
easat-6812	274	1	1909	1909	NUM
easat-6812	274	2	-	-	SYM
easat-6812	274	3	1940	1940	NUM
easat-6812	274	4	,	,	PUNCT
easat-6812	274	5	2010	2010	NUM
easat-6812	274	6	.	.	PUNCT
easat-6812	275	1	https://doi.org/10.1093/rfs/hhq009	https://doi.org/10.1093/rfs/hhq009	PROPN
easat-6812	275	2	[	[	X
easat-6812	275	3	12	12	NUM
easat-6812	275	4	]	]	PUNCT
easat-6812	275	5	s.-s	s.-	NOUN
easat-6812	275	6	.	.	PUNCT
easat-6812	276	1	chen	chen	PROPN
easat-6812	276	2	and	and	CCONJ
easat-6812	276	3	y.	y.	PROPN
easat-6812	276	4	wang	wang	PROPN
easat-6812	276	5	,	,	PUNCT
easat-6812	276	6	"	"	PUNCT
easat-6812	276	7	financial	financial	ADJ
easat-6812	276	8	constraints	constraint	NOUN
easat-6812	276	9	and	and	CCONJ
easat-6812	276	10	share	share	NOUN
easat-6812	276	11	repurchases	repurchase	NOUN
easat-6812	276	12	,	,	PUNCT
easat-6812	276	13	"	"	PUNCT
easat-6812	276	14	journal	journal	NOUN
easat-6812	276	15	of	of	ADP
easat-6812	276	16	financial	financial	ADJ
easat-6812	276	17	economics	economic	NOUN
easat-6812	276	18	,	,	PUNCT
easat-6812	276	19	vol	vol	NOUN
easat-6812	276	20	.	.	PROPN
easat-6812	276	21	105	105	NUM
easat-6812	276	22	,	,	PUNCT
easat-6812	276	23	no	no	INTJ
easat-6812	276	24	.	.	NOUN
easat-6812	276	25	2	2	NUM
easat-6812	276	26	,	,	PUNCT
easat-6812	276	27	pp	pp	ADJ
easat-6812	276	28	.	.	PUNCT
easat-6812	276	29	311	311	NUM
easat-6812	276	30	-	-	SYM
easat-6812	276	31	331	331	NUM
easat-6812	276	32	,	,	PUNCT
easat-6812	276	33	2012	2012	NUM
easat-6812	276	34	.	.	PUNCT
easat-6812	277	1	https://doi.org/10.1016/j.jfineco.2012.03.003	https://doi.org/10.1016/j.jfineco.2012.03.003	NOUN
easat-6812	277	2	[	[	X
easat-6812	277	3	13	13	NUM
easat-6812	277	4	]	]	PUNCT
easat-6812	277	5	j.	j.	PROPN
easat-6812	277	6	b.	b.	PROPN
easat-6812	277	7	barney	barney	PROPN
easat-6812	277	8	,	,	PUNCT
easat-6812	277	9	"	"	PUNCT
easat-6812	277	10	firm	firm	ADJ
easat-6812	277	11	resources	resource	NOUN
easat-6812	277	12	and	and	CCONJ
easat-6812	277	13	sustained	sustain	VERB
easat-6812	277	14	competitive	competitive	ADJ
easat-6812	277	15	advantage	advantage	NOUN
easat-6812	277	16	,	,	PUNCT
easat-6812	277	17	"	"	PUNCT
easat-6812	277	18	journal	journal	NOUN
easat-6812	277	19	of	of	ADP
easat-6812	277	20	management	management	NOUN
easat-6812	277	21	,	,	PUNCT
easat-6812	277	22	vol	vol	NOUN
easat-6812	277	23	.	.	PROPN
easat-6812	277	24	17	17	NUM
easat-6812	277	25	,	,	PUNCT
easat-6812	277	26	no	no	INTJ
easat-6812	277	27	.	.	NOUN
easat-6812	277	28	1	1	NUM
easat-6812	277	29	,	,	PUNCT
easat-6812	277	30	pp	pp	ADJ
easat-6812	277	31	.	.	PUNCT
easat-6812	278	1	99–120	99–120	NUM
easat-6812	278	2	,	,	PUNCT
easat-6812	278	3	1991	1991	NUM
easat-6812	278	4	.	.	PUNCT
easat-6812	279	1	https://doi.org/10.1177/014920639101700108	https://doi.org/10.1177/014920639101700108	X
easat-6812	279	2	https://doi.org/10.3390/su15076265	https://doi.org/10.3390/su15076265	X
easat-6812	280	1	https://doi.org/10.1093/rfs/hhq009	https://doi.org/10.1093/rfs/hhq009	PROPN
easat-6812	280	2	https://doi.org/10.1016/j.jfineco.2012.03.003	https://doi.org/10.1016/j.jfineco.2012.03.003	PROPN
easat-6812	280	3	https://doi.org/10.1177/014920639101700108	https://doi.org/10.1177/014920639101700108	ADV