id	sid	tid	token	lemma	pos
emaj-348	1	1	volume	volume	NOUN
emaj-348	1	2	7	7	NUM
emaj-348	1	3	no	no	DET
emaj-348	1	4	2	2	NUM
emaj-348	1	5	(	(	PUNCT
emaj-348	1	6	2018	2018	NUM
emaj-348	1	7	)	)	PUNCT
emaj-348	2	1	|	|	ADV
emaj-348	2	2	issn	issn	VERB
emaj-348	2	3	2158	2158	NUM
emaj-348	2	4	-	-	SYM
emaj-348	2	5	8708	8708	NUM
emaj-348	2	6	(	(	PUNCT
emaj-348	2	7	online	online	NOUN
emaj-348	2	8	)	)	PUNCT
emaj-348	2	9	|	|	ADV
emaj-348	2	10	doi	doi	X
emaj-348	2	11	10.5195	10.5195	NUM
emaj-348	2	12	/	/	SYM
emaj-348	2	13	emaj.2018.134	emaj.2018.134	PROPN
emaj-348	2	14	|	|	ADV
emaj-348	2	15	http://emaj.pitt.edu	http://emaj.pitt.edu	X
emaj-348	2	16	female	female	ADJ
emaj-348	2	17	directors	director	NOUN
emaj-348	2	18	’	'	PUNCT
emaj-348	2	19	role	role	NOUN
emaj-348	2	20	on	on	ADP
emaj-348	2	21	capital	capital	NOUN
emaj-348	2	22	structure	structure	NOUN
emaj-348	2	23	and	and	CCONJ
emaj-348	2	24	firm	firm	ADJ
emaj-348	2	25	performance	performance	NOUN
emaj-348	2	26	nexus	nexus	NOUN
emaj-348	2	27	:	:	PUNCT
emaj-348	2	28	new	new	ADJ
emaj-348	2	29	evidence	evidence	NOUN
emaj-348	2	30	from	from	ADP
emaj-348	2	31	an	an	DET
emaj-348	2	32	emerging	emerge	VERB
emaj-348	2	33	market	market	NOUN
emaj-348	2	34	nigeria	nigeria	PROPN
emaj-348	2	35	idorenyin	idorenyin	PROPN
emaj-348	2	36	okon	okon	PROPN
emaj-348	2	37	university	university	PROPN
emaj-348	2	38	of	of	ADP
emaj-348	2	39	ibadan	ibadan	PROPN
emaj-348	2	40	,	,	PUNCT
emaj-348	2	41	nigeria	nigeria	PROPN
emaj-348	3	1	|	|	ADV
emaj-348	3	2	e	e	NOUN
emaj-348	3	3	-	-	NOUN
emaj-348	3	4	mail	mail	NOUN
emaj-348	3	5	:	:	PUNCT
emaj-348	4	1	iddyokon22@gmail.com	iddyokon22@gmail.com	X
emaj-348	4	2	ozele	ozele	PROPN
emaj-348	4	3	clement	clement	PROPN
emaj-348	4	4	igbenedion	igbenedion	PROPN
emaj-348	4	5	university	university	PROPN
emaj-348	4	6	,	,	PUNCT
emaj-348	4	7	nigeria	nigeria	PROPN
emaj-348	5	1	|	|	ADV
emaj-348	5	2	e	e	NOUN
emaj-348	5	3	-	-	NOUN
emaj-348	5	4	mail	mail	NOUN
emaj-348	5	5	:	:	PUNCT
emaj-348	5	6	:	:	PUNCT
emaj-348	5	7	ozele.clement@iuokada.edu.ng	ozele.clement@iuokada.edu.ng	VERB
emaj-348	5	8	abstract	abstract	ADJ
emaj-348	5	9	this	this	DET
emaj-348	5	10	study	study	NOUN
emaj-348	5	11	investigates	investigate	VERB
emaj-348	5	12	the	the	DET
emaj-348	5	13	moderating	moderate	VERB
emaj-348	5	14	role	role	NOUN
emaj-348	5	15	of	of	ADP
emaj-348	5	16	female	female	ADJ
emaj-348	5	17	board	board	NOUN
emaj-348	5	18	directors	director	NOUN
emaj-348	5	19	on	on	ADP
emaj-348	5	20	the	the	DET
emaj-348	5	21	relationship	relationship	NOUN
emaj-348	5	22	between	between	ADP
emaj-348	5	23	capital	capital	NOUN
emaj-348	5	24	structure	structure	NOUN
emaj-348	5	25	and	and	CCONJ
emaj-348	5	26	firm	firm	ADJ
emaj-348	5	27	performance	performance	NOUN
emaj-348	5	28	in	in	ADP
emaj-348	5	29	nigerian	nigerian	ADJ
emaj-348	5	30	non	non	ADJ
emaj-348	5	31	-	-	ADJ
emaj-348	5	32	financial	financial	ADJ
emaj-348	5	33	firms	firm	NOUN
emaj-348	5	34	.	.	PUNCT
emaj-348	6	1	the	the	DET
emaj-348	6	2	study	study	NOUN
emaj-348	6	3	builds	build	VERB
emaj-348	6	4	on	on	ADP
emaj-348	6	5	previous	previous	ADJ
emaj-348	6	6	research	research	NOUN
emaj-348	6	7	that	that	PRON
emaj-348	6	8	highlights	highlight	VERB
emaj-348	6	9	the	the	DET
emaj-348	6	10	importance	importance	NOUN
emaj-348	6	11	of	of	ADP
emaj-348	6	12	gender	gender	NOUN
emaj-348	6	13	diversity	diversity	NOUN
emaj-348	6	14	in	in	ADP
emaj-348	6	15	corporate	corporate	ADJ
emaj-348	6	16	governance	governance	NOUN
emaj-348	6	17	and	and	CCONJ
emaj-348	6	18	its	its	PRON
emaj-348	6	19	potential	potential	NOUN
emaj-348	6	20	to	to	PART
emaj-348	6	21	enhance	enhance	VERB
emaj-348	6	22	firm	firm	ADJ
emaj-348	6	23	outcomes	outcome	NOUN
emaj-348	6	24	.	.	PUNCT
emaj-348	7	1	using	use	VERB
emaj-348	7	2	data	datum	NOUN
emaj-348	7	3	from	from	ADP
emaj-348	7	4	70	70	NUM
emaj-348	7	5	non	non	ADJ
emaj-348	7	6	-	-	ADJ
emaj-348	7	7	financial	financial	ADJ
emaj-348	7	8	firms	firm	NOUN
emaj-348	7	9	listed	list	VERB
emaj-348	7	10	on	on	ADP
emaj-348	7	11	the	the	DET
emaj-348	7	12	nigerian	nigerian	ADJ
emaj-348	7	13	exchange	exchange	NOUN
emaj-348	7	14	group	group	NOUN
emaj-348	7	15	from	from	ADP
emaj-348	7	16	2012	2012	NUM
emaj-348	7	17	to	to	ADP
emaj-348	7	18	2021	2021	NUM
emaj-348	7	19	,	,	PUNCT
emaj-348	7	20	the	the	DET
emaj-348	7	21	study	study	NOUN
emaj-348	7	22	applies	apply	VERB
emaj-348	7	23	the	the	DET
emaj-348	7	24	two	two	NUM
emaj-348	7	25	-	-	PUNCT
emaj-348	7	26	step	step	NOUN
emaj-348	7	27	system	system	NOUN
emaj-348	7	28	gmm	gmm	NOUN
emaj-348	7	29	approach	approach	VERB
emaj-348	7	30	to	to	PART
emaj-348	7	31	mitigate	mitigate	VERB
emaj-348	7	32	endogeneity	endogeneity	NOUN
emaj-348	7	33	issues	issue	NOUN
emaj-348	7	34	.	.	PUNCT
emaj-348	8	1	it	it	PRON
emaj-348	8	2	focuses	focus	VERB
emaj-348	8	3	on	on	ADP
emaj-348	8	4	various	various	ADJ
emaj-348	8	5	capital	capital	NOUN
emaj-348	8	6	structure	structure	NOUN
emaj-348	8	7	measures	measure	NOUN
emaj-348	8	8	,	,	PUNCT
emaj-348	8	9	such	such	ADJ
emaj-348	8	10	as	as	ADP
emaj-348	8	11	debt	debt	NOUN
emaj-348	8	12	-	-	PUNCT
emaj-348	8	13	to	to	ADP
emaj-348	8	14	-	-	PUNCT
emaj-348	8	15	asset	asset	NOUN
emaj-348	8	16	and	and	CCONJ
emaj-348	8	17	debt	debt	NOUN
emaj-348	8	18	-	-	PUNCT
emaj-348	8	19	to	to	ADP
emaj-348	8	20	-	-	PUNCT
emaj-348	8	21	equity	equity	NOUN
emaj-348	8	22	ratios	ratio	NOUN
emaj-348	8	23	,	,	PUNCT
emaj-348	8	24	and	and	CCONJ
emaj-348	8	25	examines	examine	VERB
emaj-348	8	26	their	their	PRON
emaj-348	8	27	relationship	relationship	NOUN
emaj-348	8	28	with	with	ADP
emaj-348	8	29	firm	firm	ADJ
emaj-348	8	30	performance	performance	NOUN
emaj-348	8	31	,	,	PUNCT
emaj-348	8	32	with	with	ADP
emaj-348	8	33	the	the	DET
emaj-348	8	34	presence	presence	NOUN
emaj-348	8	35	of	of	ADP
emaj-348	8	36	female	female	ADJ
emaj-348	8	37	directors	director	NOUN
emaj-348	8	38	as	as	ADP
emaj-348	8	39	a	a	DET
emaj-348	8	40	moderating	moderate	VERB
emaj-348	8	41	variable	variable	NOUN
emaj-348	8	42	.	.	PUNCT
emaj-348	9	1	the	the	DET
emaj-348	9	2	study	study	NOUN
emaj-348	9	3	finds	find	VERB
emaj-348	9	4	that	that	SCONJ
emaj-348	9	5	female	female	ADJ
emaj-348	9	6	directors	director	NOUN
emaj-348	9	7	moderate	moderate	VERB
emaj-348	9	8	the	the	DET
emaj-348	9	9	relationship	relationship	NOUN
emaj-348	9	10	between	between	ADP
emaj-348	9	11	capital	capital	NOUN
emaj-348	9	12	structure	structure	NOUN
emaj-348	9	13	and	and	CCONJ
emaj-348	9	14	firm	firm	ADJ
emaj-348	9	15	performance	performance	NOUN
emaj-348	9	16	,	,	PUNCT
emaj-348	9	17	improving	improve	VERB
emaj-348	9	18	the	the	DET
emaj-348	9	19	impact	impact	NOUN
emaj-348	9	20	of	of	ADP
emaj-348	9	21	debt	debt	NOUN
emaj-348	9	22	levels	level	NOUN
emaj-348	9	23	on	on	ADP
emaj-348	9	24	profitability	profitability	NOUN
emaj-348	9	25	while	while	SCONJ
emaj-348	9	26	reducing	reduce	VERB
emaj-348	9	27	market	market	NOUN
emaj-348	9	28	performance	performance	NOUN
emaj-348	9	29	.	.	PUNCT
emaj-348	10	1	this	this	DET
emaj-348	10	2	study	study	NOUN
emaj-348	10	3	contributes	contribute	VERB
emaj-348	10	4	to	to	ADP
emaj-348	10	5	literature	literature	NOUN
emaj-348	10	6	by	by	ADP
emaj-348	10	7	providing	provide	VERB
emaj-348	10	8	new	new	ADJ
emaj-348	10	9	evidence	evidence	NOUN
emaj-348	10	10	from	from	ADP
emaj-348	10	11	an	an	DET
emaj-348	10	12	emerging	emerge	VERB
emaj-348	10	13	market	market	NOUN
emaj-348	10	14	context	context	NOUN
emaj-348	10	15	on	on	ADP
emaj-348	10	16	how	how	SCONJ
emaj-348	10	17	board	board	NOUN
emaj-348	10	18	gender	gender	NOUN
emaj-348	10	19	diversity	diversity	NOUN
emaj-348	10	20	influences	influence	VERB
emaj-348	10	21	financial	financial	ADJ
emaj-348	10	22	decision	decision	NOUN
emaj-348	10	23	-	-	PUNCT
emaj-348	10	24	making	make	VERB
emaj-348	10	25	and	and	CCONJ
emaj-348	10	26	firm	firm	ADJ
emaj-348	10	27	outcomes	outcome	NOUN
emaj-348	10	28	in	in	ADP
emaj-348	10	29	nigeria	nigeria	PROPN
emaj-348	10	30	.	.	PUNCT
emaj-348	11	1	keywords	keyword	NOUN
emaj-348	11	2	:	:	PUNCT
emaj-348	11	3	capital	capital	NOUN
emaj-348	11	4	structure	structure	NOUN
emaj-348	11	5	,	,	PUNCT
emaj-348	11	6	firm	firm	ADJ
emaj-348	11	7	performance	performance	NOUN
emaj-348	11	8	,	,	PUNCT
emaj-348	11	9	female	female	ADJ
emaj-348	11	10	board	board	NOUN
emaj-348	11	11	directors	director	NOUN
emaj-348	11	12	,	,	PUNCT
emaj-348	11	13	corporate	corporate	ADJ
emaj-348	11	14	governance	governance	NOUN
emaj-348	11	15	,	,	PUNCT
emaj-348	11	16	nigeria	nigeria	PROPN
emaj-348	12	1	*	*	PUNCT
emaj-348	12	2	we	we	PRON
emaj-348	12	3	acknowledge	acknowledge	VERB
emaj-348	12	4	the	the	DET
emaj-348	12	5	use	use	NOUN
emaj-348	12	6	of	of	ADP
emaj-348	12	7	artificial	artificial	ADJ
emaj-348	12	8	intelligence	intelligence	NOUN
emaj-348	12	9	(	(	PUNCT
emaj-348	12	10	ai	ai	NOUN
emaj-348	12	11	)	)	PUNCT
emaj-348	12	12	to	to	PART
emaj-348	12	13	assist	assist	VERB
emaj-348	12	14	in	in	ADP
emaj-348	12	15	improving	improve	VERB
emaj-348	12	16	the	the	DET
emaj-348	12	17	clarity	clarity	NOUN
emaj-348	12	18	and	and	CCONJ
emaj-348	12	19	enhance	enhance	VERB
emaj-348	12	20	grammatical	grammatical	ADJ
emaj-348	12	21	structure	structure	NOUN
emaj-348	12	22	.	.	PUNCT
emaj-348	13	1	while	while	SCONJ
emaj-348	13	2	ai	ai	NOUN
emaj-348	13	3	was	be	AUX
emaj-348	13	4	used	use	VERB
emaj-348	13	5	as	as	ADP
emaj-348	13	6	a	a	DET
emaj-348	13	7	tool	tool	NOUN
emaj-348	13	8	to	to	PART
emaj-348	13	9	refine	refine	VERB
emaj-348	13	10	the	the	DET
emaj-348	13	11	parts	part	NOUN
emaj-348	13	12	of	of	ADP
emaj-348	13	13	the	the	DET
emaj-348	13	14	content	content	NOUN
emaj-348	13	15	,	,	PUNCT
emaj-348	13	16	we	we	PRON
emaj-348	13	17	take	take	VERB
emaj-348	13	18	full	full	ADJ
emaj-348	13	19	responsibility	responsibility	NOUN
emaj-348	13	20	for	for	ADP
emaj-348	13	21	the	the	DET
emaj-348	13	22	final	final	ADJ
emaj-348	13	23	version	version	NOUN
emaj-348	13	24	of	of	ADP
emaj-348	13	25	the	the	DET
emaj-348	13	26	study	study	NOUN
emaj-348	13	27	,	,	PUNCT
emaj-348	13	28	including	include	VERB
emaj-348	13	29	any	any	DET
emaj-348	13	30	interpretations	interpretation	NOUN
emaj-348	13	31	,	,	PUNCT
emaj-348	13	32	errors	error	NOUN
emaj-348	13	33	or	or	CCONJ
emaj-348	13	34	conclusions	conclusion	NOUN
emaj-348	13	35	presented	present	VERB
emaj-348	13	36	.	.	PUNCT
emaj-348	14	1	volume	volume	NOUN
emaj-348	14	2	14	14	NUM
emaj-348	14	3	no	no	DET
emaj-348	14	4	2	2	NUM
emaj-348	14	5	(	(	PUNCT
emaj-348	14	6	2024	2024	NUM
emaj-348	14	7	)	)	PUNCT
emaj-348	14	8	|	|	ADV
emaj-348	14	9	issn	issn	VERB
emaj-348	14	10	2158	2158	NUM
emaj-348	14	11	-	-	SYM
emaj-348	14	12	8708	8708	NUM
emaj-348	14	13	(	(	PUNCT
emaj-348	14	14	online	online	NOUN
emaj-348	14	15	)	)	PUNCT
emaj-348	14	16	|	|	ADV
emaj-348	14	17	doi	doi	X
emaj-348	14	18	10.5195	10.5195	NUM
emaj-348	14	19	/	/	SYM
emaj-348	14	20	emaj.2024.348	emaj.2024.348	NOUN
emaj-348	15	1	|	|	NOUN
emaj-348	15	2	http://emaj.pitt.edu	http://emaj.pitt.edu	VERB
emaj-348	15	3	|	|	ADV
emaj-348	15	4	mailto:ozele.clement@iuokada.edu.ng	mailto:ozele.clement@iuokada.edu.ng	ADJ
emaj-348	15	5	volume	volume	NOUN
emaj-348	15	6	14	14	NUM
emaj-348	15	7	no	no	DET
emaj-348	15	8	2	2	NUM
emaj-348	15	9	(	(	PUNCT
emaj-348	15	10	2024	2024	NUM
emaj-348	15	11	)	)	PUNCT
emaj-348	15	12	|	|	ADV
emaj-348	15	13	issn	issn	VERB
emaj-348	15	14	2158	2158	NUM
emaj-348	15	15	-	-	SYM
emaj-348	15	16	8708	8708	NUM
emaj-348	15	17	(	(	PUNCT
emaj-348	15	18	online	online	NOUN
emaj-348	15	19	)	)	PUNCT
emaj-348	15	20	|	|	ADV
emaj-348	15	21	doi	doi	X
emaj-348	15	22	10.5195	10.5195	NUM
emaj-348	15	23	/	/	SYM
emaj-348	15	24	emaj.2024.348	emaj.2024.348	PROPN
emaj-348	15	25	|	|	NOUN
emaj-348	15	26	http://emaj.pitt.edu	http://emaj.pitt.edu	VERB
emaj-348	15	27	female	female	ADJ
emaj-348	15	28	directors	director	NOUN
emaj-348	15	29	’	'	PUNCT
emaj-348	15	30	role	role	NOUN
emaj-348	15	31	on	on	ADP
emaj-348	15	32	capital	capital	NOUN
emaj-348	15	33	structure	structure	NOUN
emaj-348	15	34	and	and	CCONJ
emaj-348	15	35	firm	firm	ADJ
emaj-348	15	36	performance	performance	NOUN
emaj-348	15	37	nexus	nexus	NOUN
emaj-348	15	38	:	:	PUNCT
emaj-348	15	39	new	new	ADJ
emaj-348	15	40	evidence	evidence	NOUN
emaj-348	15	41	from	from	ADP
emaj-348	15	42	an	an	DET
emaj-348	15	43	emerging	emerge	VERB
emaj-348	15	44	market	market	NOUN
emaj-348	15	45	nigeria	nigeria	PROPN
emaj-348	15	46	page	page	NOUN
emaj-348	15	47	|34|	|34|	VERB
emaj-348	15	48	emerging	emerge	VERB
emaj-348	15	49	markets	market	NOUN
emaj-348	15	50	journal	journal	ADJ
emaj-348	15	51	female	female	ADJ
emaj-348	15	52	directors	director	NOUN
emaj-348	15	53	’	'	PUNCT
emaj-348	15	54	role	role	NOUN
emaj-348	15	55	on	on	ADP
emaj-348	15	56	capital	capital	NOUN
emaj-348	15	57	structure	structure	NOUN
emaj-348	15	58	and	and	CCONJ
emaj-348	15	59	firm	firm	ADJ
emaj-348	15	60	performance	performance	NOUN
emaj-348	15	61	nexus	nexus	NOUN
emaj-348	15	62	:	:	PUNCT
emaj-348	15	63	new	new	ADJ
emaj-348	15	64	evidence	evidence	NOUN
emaj-348	15	65	from	from	ADP
emaj-348	15	66	an	an	DET
emaj-348	15	67	emerging	emerge	VERB
emaj-348	15	68	market	market	NOUN
emaj-348	15	69	nigeria	nigeria	PROPN
emaj-348	15	70	idorenyin	idorenyin	PROPN
emaj-348	15	71	okon	okon	PROPN
emaj-348	15	72	ozele	ozele	PROPN
emaj-348	15	73	clement	clement	PROPN
emaj-348	15	74	i.	i.	PROPN
emaj-348	15	75	introduction	introduction	NOUN
emaj-348	15	76	over	over	ADP
emaj-348	15	77	the	the	DET
emaj-348	15	78	past	past	ADJ
emaj-348	15	79	few	few	ADJ
emaj-348	15	80	decades	decade	NOUN
emaj-348	15	81	,	,	PUNCT
emaj-348	15	82	the	the	DET
emaj-348	15	83	study	study	NOUN
emaj-348	15	84	of	of	ADP
emaj-348	15	85	capital	capital	NOUN
emaj-348	15	86	structure	structure	NOUN
emaj-348	15	87	and	and	CCONJ
emaj-348	15	88	its	its	PRON
emaj-348	15	89	impact	impact	NOUN
emaj-348	15	90	on	on	ADP
emaj-348	15	91	firm	firm	ADJ
emaj-348	15	92	performance	performance	NOUN
emaj-348	15	93	has	have	AUX
emaj-348	15	94	remained	remain	VERB
emaj-348	15	95	central	central	ADJ
emaj-348	15	96	to	to	ADP
emaj-348	15	97	corporate	corporate	ADJ
emaj-348	15	98	finance	finance	NOUN
emaj-348	15	99	,	,	PUNCT
emaj-348	15	100	particularly	particularly	ADV
emaj-348	15	101	in	in	ADP
emaj-348	15	102	emerging	emerge	VERB
emaj-348	15	103	markets	market	NOUN
emaj-348	15	104	where	where	SCONJ
emaj-348	15	105	institutional	institutional	ADJ
emaj-348	15	106	frameworks	framework	NOUN
emaj-348	15	107	and	and	CCONJ
emaj-348	15	108	governance	governance	NOUN
emaj-348	15	109	structures	structure	NOUN
emaj-348	15	110	are	be	AUX
emaj-348	15	111	continuously	continuously	ADV
emaj-348	15	112	evolving	evolve	VERB
emaj-348	15	113	.	.	PUNCT
emaj-348	16	1	traditional	traditional	ADJ
emaj-348	16	2	theories	theory	NOUN
emaj-348	16	3	,	,	PUNCT
emaj-348	16	4	such	such	ADJ
emaj-348	16	5	as	as	ADP
emaj-348	16	6	the	the	DET
emaj-348	16	7	modigliani	modigliani	PROPN
emaj-348	16	8	-	-	PUNCT
emaj-348	16	9	miller	miller	NOUN
emaj-348	16	10	theorem	theorem	NOUN
emaj-348	16	11	,	,	PUNCT
emaj-348	16	12	emphasize	emphasize	VERB
emaj-348	16	13	the	the	DET
emaj-348	16	14	irrelevance	irrelevance	NOUN
emaj-348	16	15	of	of	ADP
emaj-348	16	16	capital	capital	NOUN
emaj-348	16	17	structure	structure	NOUN
emaj-348	16	18	under	under	ADP
emaj-348	16	19	certain	certain	ADJ
emaj-348	16	20	market	market	NOUN
emaj-348	16	21	conditions	condition	NOUN
emaj-348	16	22	(	(	PUNCT
emaj-348	16	23	abdullah	abdullah	NOUN
emaj-348	16	24	and	and	CCONJ
emaj-348	16	25	tursoy	tursoy	ADJ
emaj-348	16	26	,	,	PUNCT
emaj-348	16	27	2021	2021	NUM
emaj-348	16	28	;	;	PUNCT
emaj-348	16	29	dao	dao	NOUN
emaj-348	16	30	and	and	CCONJ
emaj-348	16	31	le	le	X
emaj-348	16	32	,	,	PUNCT
emaj-348	16	33	2023	2023	NUM
emaj-348	16	34	)	)	PUNCT
emaj-348	16	35	.	.	PUNCT
emaj-348	17	1	however	however	ADV
emaj-348	17	2	,	,	PUNCT
emaj-348	17	3	market	market	NOUN
emaj-348	17	4	imperfections	imperfection	NOUN
emaj-348	17	5	,	,	PUNCT
emaj-348	17	6	such	such	ADJ
emaj-348	17	7	as	as	ADP
emaj-348	17	8	taxes	taxis	NOUN
emaj-348	17	9	,	,	PUNCT
emaj-348	17	10	bankruptcy	bankruptcy	NOUN
emaj-348	17	11	costs	cost	NOUN
emaj-348	17	12	,	,	PUNCT
emaj-348	17	13	and	and	CCONJ
emaj-348	17	14	information	information	NOUN
emaj-348	17	15	asymmetries	asymmetry	NOUN
emaj-348	17	16	,	,	PUNCT
emaj-348	17	17	suggest	suggest	VERB
emaj-348	17	18	a	a	DET
emaj-348	17	19	significant	significant	ADJ
emaj-348	17	20	relationship	relationship	NOUN
emaj-348	17	21	between	between	ADP
emaj-348	17	22	capital	capital	NOUN
emaj-348	17	23	structure	structure	NOUN
emaj-348	17	24	decisions	decision	NOUN
emaj-348	17	25	and	and	CCONJ
emaj-348	17	26	firm	firm	ADJ
emaj-348	17	27	performance	performance	NOUN
emaj-348	17	28	(	(	PUNCT
emaj-348	17	29	dinh	dinh	NOUN
emaj-348	17	30	,	,	PUNCT
emaj-348	17	31	nguyen	nguyen	PROPN
emaj-348	17	32	&	&	CCONJ
emaj-348	17	33	hosseini	hosseini	PROPN
emaj-348	17	34	2019	2019	NUM
emaj-348	17	35	;	;	PUNCT
emaj-348	17	36	wojewodzki	wojewodzki	VERB
emaj-348	17	37	,	,	PUNCT
emaj-348	17	38	boateng	boateng	PROPN
emaj-348	17	39	&	&	CCONJ
emaj-348	17	40	brahma	brahma	PROPN
emaj-348	17	41	2020b	2020b	NUM
emaj-348	17	42	)	)	PUNCT
emaj-348	17	43	.	.	PUNCT
emaj-348	18	1	while	while	SCONJ
emaj-348	18	2	much	much	ADJ
emaj-348	18	3	research	research	NOUN
emaj-348	18	4	has	have	AUX
emaj-348	18	5	focused	focus	VERB
emaj-348	18	6	on	on	ADP
emaj-348	18	7	this	this	DET
emaj-348	18	8	direct	direct	ADJ
emaj-348	18	9	relationship	relationship	NOUN
emaj-348	18	10	(	(	PUNCT
emaj-348	18	11	rani	rani	PROPN
emaj-348	18	12	,	,	PUNCT
emaj-348	18	13	yadav	yadav	NOUN
emaj-348	18	14	and	and	CCONJ
emaj-348	18	15	tripathy	tripathy	ADJ
emaj-348	18	16	,	,	PUNCT
emaj-348	18	17	2020	2020	NUM
emaj-348	18	18	;	;	PUNCT
emaj-348	18	19	zhang	zhang	PROPN
emaj-348	18	20	et	et	PROPN
emaj-348	18	21	al	al	PROPN
emaj-348	18	22	.	.	PROPN
emaj-348	18	23	,	,	PUNCT
emaj-348	18	24	2022	2022	NUM
emaj-348	18	25	)	)	PUNCT
emaj-348	18	26	,	,	PUNCT
emaj-348	18	27	recent	recent	ADJ
emaj-348	18	28	studies	study	NOUN
emaj-348	18	29	suggest	suggest	VERB
emaj-348	18	30	that	that	SCONJ
emaj-348	18	31	corporate	corporate	ADJ
emaj-348	18	32	governance	governance	NOUN
emaj-348	18	33	factors	factor	NOUN
emaj-348	18	34	,	,	PUNCT
emaj-348	18	35	particularly	particularly	ADV
emaj-348	18	36	gender	gender	NOUN
emaj-348	18	37	diversity	diversity	NOUN
emaj-348	18	38	on	on	ADP
emaj-348	18	39	boards	board	NOUN
emaj-348	18	40	,	,	PUNCT
emaj-348	18	41	can	can	AUX
emaj-348	18	42	also	also	ADV
emaj-348	18	43	influence	influence	VERB
emaj-348	18	44	the	the	DET
emaj-348	18	45	capital	capital	NOUN
emaj-348	18	46	structure	structure	NOUN
emaj-348	18	47	-	-	PUNCT
emaj-348	18	48	performance	performance	NOUN
emaj-348	18	49	relationship	relationship	NOUN
emaj-348	18	50	(	(	PUNCT
emaj-348	18	51	le	le	X
emaj-348	18	52	and	and	CCONJ
emaj-348	18	53	phan	phan	PROPN
emaj-348	18	54	,	,	PUNCT
emaj-348	18	55	2017	2017	NUM
emaj-348	18	56	;	;	PUNCT
emaj-348	18	57	mavruk	mavruk	NOUN
emaj-348	18	58	and	and	CCONJ
emaj-348	18	59	sjögren	sjögren	NOUN
emaj-348	18	60	,	,	PUNCT
emaj-348	18	61	2021	2021	NUM
emaj-348	18	62	)	)	PUNCT
emaj-348	18	63	.	.	PUNCT
emaj-348	19	1	the	the	DET
emaj-348	19	2	increasing	increase	VERB
emaj-348	19	3	presence	presence	NOUN
emaj-348	19	4	of	of	ADP
emaj-348	19	5	female	female	ADJ
emaj-348	19	6	directors	director	NOUN
emaj-348	19	7	on	on	ADP
emaj-348	19	8	corporate	corporate	ADJ
emaj-348	19	9	boards	board	NOUN
emaj-348	19	10	has	have	AUX
emaj-348	19	11	introduced	introduce	VERB
emaj-348	19	12	new	new	ADJ
emaj-348	19	13	dynamics	dynamic	NOUN
emaj-348	19	14	in	in	ADP
emaj-348	19	15	governance	governance	NOUN
emaj-348	19	16	practices	practice	NOUN
emaj-348	19	17	,	,	PUNCT
emaj-348	19	18	challenging	challenge	VERB
emaj-348	19	19	conventional	conventional	ADJ
emaj-348	19	20	views	view	NOUN
emaj-348	19	21	and	and	CCONJ
emaj-348	19	22	prompting	prompt	VERB
emaj-348	19	23	scholars	scholar	NOUN
emaj-348	19	24	to	to	PART
emaj-348	19	25	explore	explore	VERB
emaj-348	19	26	how	how	SCONJ
emaj-348	19	27	gender	gender	NOUN
emaj-348	19	28	diversity	diversity	NOUN
emaj-348	19	29	interacts	interact	VERB
emaj-348	19	30	with	with	ADP
emaj-348	19	31	financial	financial	ADJ
emaj-348	19	32	strategies	strategy	NOUN
emaj-348	19	33	,	,	PUNCT
emaj-348	19	34	including	include	VERB
emaj-348	19	35	capital	capital	NOUN
emaj-348	19	36	structure	structure	NOUN
emaj-348	19	37	decisions	decision	NOUN
emaj-348	19	38	,	,	PUNCT
emaj-348	19	39	to	to	PART
emaj-348	19	40	affect	affect	VERB
emaj-348	19	41	firm	firm	ADJ
emaj-348	19	42	performance	performance	NOUN
emaj-348	19	43	(	(	PUNCT
emaj-348	19	44	almaqtari	almaqtari	INTJ
emaj-348	19	45	et	et	PROPN
emaj-348	19	46	al	al	PROPN
emaj-348	19	47	.	.	PROPN
emaj-348	19	48	,	,	PUNCT
emaj-348	19	49	2021	2021	NUM
emaj-348	19	50	;	;	PUNCT
emaj-348	19	51	detthamrong	detthamrong	NOUN
emaj-348	19	52	,	,	PUNCT
emaj-348	19	53	chancharat	chancharat	NOUN
emaj-348	19	54	and	and	CCONJ
emaj-348	19	55	vithessonthi	vithessonthi	NOUN
emaj-348	19	56	,	,	PUNCT
emaj-348	19	57	2017	2017	NUM
emaj-348	19	58	)	)	PUNCT
emaj-348	19	59	.	.	PUNCT
emaj-348	20	1	despite	despite	SCONJ
emaj-348	20	2	the	the	DET
emaj-348	20	3	growing	grow	VERB
emaj-348	20	4	literature	literature	NOUN
emaj-348	20	5	on	on	ADP
emaj-348	20	6	board	board	NOUN
emaj-348	20	7	diversity	diversity	NOUN
emaj-348	20	8	and	and	CCONJ
emaj-348	20	9	corporate	corporate	ADJ
emaj-348	20	10	performance	performance	NOUN
emaj-348	20	11	,	,	PUNCT
emaj-348	20	12	limited	limited	ADJ
emaj-348	20	13	attention	attention	NOUN
emaj-348	20	14	has	have	AUX
emaj-348	20	15	been	be	AUX
emaj-348	20	16	given	give	VERB
emaj-348	20	17	to	to	ADP
emaj-348	20	18	the	the	DET
emaj-348	20	19	moderating	moderate	VERB
emaj-348	20	20	role	role	NOUN
emaj-348	20	21	of	of	ADP
emaj-348	20	22	female	female	ADJ
emaj-348	20	23	board	board	NOUN
emaj-348	20	24	directors	director	NOUN
emaj-348	20	25	in	in	ADP
emaj-348	20	26	the	the	DET
emaj-348	20	27	relationship	relationship	NOUN
emaj-348	20	28	between	between	ADP
emaj-348	20	29	capital	capital	NOUN
emaj-348	20	30	structure	structure	NOUN
emaj-348	20	31	and	and	CCONJ
emaj-348	20	32	firm	firm	ADJ
emaj-348	20	33	performance	performance	NOUN
emaj-348	20	34	,	,	PUNCT
emaj-348	20	35	particularly	particularly	ADV
emaj-348	20	36	in	in	ADP
emaj-348	20	37	emerging	emerge	VERB
emaj-348	20	38	markets	market	NOUN
emaj-348	20	39	like	like	ADP
emaj-348	20	40	nigeria	nigeria	PRON
emaj-348	20	41	.	.	PUNCT
emaj-348	21	1	we	we	PRON
emaj-348	21	2	seek	seek	VERB
emaj-348	21	3	to	to	PART
emaj-348	21	4	address	address	VERB
emaj-348	21	5	this	this	DET
emaj-348	21	6	gap	gap	NOUN
emaj-348	21	7	by	by	ADP
emaj-348	21	8	examining	examine	VERB
emaj-348	21	9	how	how	SCONJ
emaj-348	21	10	female	female	ADJ
emaj-348	21	11	board	board	NOUN
emaj-348	21	12	director	director	NOUN
emaj-348	21	13	presence	presence	NOUN
emaj-348	21	14	moderates	moderate	VERB
emaj-348	21	15	the	the	DET
emaj-348	21	16	relationship	relationship	NOUN
emaj-348	21	17	between	between	ADP
emaj-348	21	18	capital	capital	NOUN
emaj-348	21	19	structure	structure	NOUN
emaj-348	21	20	and	and	CCONJ
emaj-348	21	21	firm	firm	ADJ
emaj-348	21	22	performance	performance	NOUN
emaj-348	21	23	in	in	ADP
emaj-348	21	24	non	non	ADJ
emaj-348	21	25	-	-	ADJ
emaj-348	21	26	financial	financial	ADJ
emaj-348	21	27	firms	firm	NOUN
emaj-348	21	28	in	in	ADP
emaj-348	21	29	nigeria	nigeria	PROPN
emaj-348	21	30	.	.	PUNCT
emaj-348	22	1	our	our	PRON
emaj-348	22	2	study	study	NOUN
emaj-348	22	3	is	be	AUX
emaj-348	22	4	motivated	motivate	VERB
emaj-348	22	5	by	by	ADP
emaj-348	22	6	the	the	DET
emaj-348	22	7	need	need	NOUN
emaj-348	22	8	to	to	PART
emaj-348	22	9	understand	understand	VERB
emaj-348	22	10	whether	whether	SCONJ
emaj-348	22	11	the	the	DET
emaj-348	22	12	observed	observe	VERB
emaj-348	22	13	benefits	benefit	NOUN
emaj-348	22	14	of	of	ADP
emaj-348	22	15	board	board	NOUN
emaj-348	22	16	gender	gender	NOUN
emaj-348	22	17	diversity	diversity	NOUN
emaj-348	22	18	,	,	PUNCT
emaj-348	22	19	such	such	ADJ
emaj-348	22	20	as	as	ADP
emaj-348	22	21	reduced	reduce	VERB
emaj-348	22	22	information	information	NOUN
emaj-348	22	23	asymmetry	asymmetry	NOUN
emaj-348	22	24	and	and	CCONJ
emaj-348	22	25	improved	improve	VERB
emaj-348	22	26	risk	risk	NOUN
emaj-348	22	27	management	management	NOUN
emaj-348	22	28	,	,	PUNCT
emaj-348	22	29	extend	extend	VERB
emaj-348	22	30	to	to	ADP
emaj-348	22	31	moderating	moderate	VERB
emaj-348	22	32	the	the	DET
emaj-348	22	33	effects	effect	NOUN
emaj-348	22	34	of	of	ADP
emaj-348	22	35	capital	capital	NOUN
emaj-348	22	36	structure	structure	NOUN
emaj-348	22	37	on	on	ADP
emaj-348	22	38	firm	firm	ADJ
emaj-348	22	39	performance	performance	NOUN
emaj-348	22	40	.	.	PUNCT
emaj-348	23	1	specifically	specifically	ADV
emaj-348	23	2	,	,	PUNCT
emaj-348	23	3	we	we	PRON
emaj-348	23	4	focus	focus	VERB
emaj-348	23	5	on	on	ADP
emaj-348	23	6	the	the	DET
emaj-348	23	7	interaction	interaction	NOUN
emaj-348	23	8	between	between	ADP
emaj-348	23	9	female	female	ADJ
emaj-348	23	10	board	board	NOUN
emaj-348	23	11	presence	presence	NOUN
emaj-348	23	12	and	and	CCONJ
emaj-348	23	13	multiple	multiple	ADJ
emaj-348	23	14	measures	measure	NOUN
emaj-348	23	15	of	of	ADP
emaj-348	23	16	capital	capital	NOUN
emaj-348	23	17	structure	structure	NOUN
emaj-348	23	18	,	,	PUNCT
emaj-348	23	19	such	such	ADJ
emaj-348	23	20	as	as	ADP
emaj-348	23	21	the	the	DET
emaj-348	23	22	equity	equity	NOUN
emaj-348	23	23	-	-	PUNCT
emaj-348	23	24	to	to	ADP
emaj-348	23	25	-	-	PUNCT
emaj-348	23	26	asset	asset	NOUN
emaj-348	23	27	ratio	ratio	NOUN
emaj-348	23	28	,	,	PUNCT
emaj-348	23	29	debt	debt	NOUN
emaj-348	23	30	-	-	PUNCT
emaj-348	23	31	to	to	ADP
emaj-348	23	32	-	-	PUNCT
emaj-348	23	33	asset	asset	NOUN
emaj-348	23	34	ratio	ratio	NOUN
emaj-348	23	35	,	,	PUNCT
emaj-348	23	36	and	and	CCONJ
emaj-348	23	37	debt	debt	NOUN
emaj-348	23	38	-	-	PUNCT
emaj-348	23	39	to	to	ADP
emaj-348	23	40	-	-	PUNCT
emaj-348	23	41	equity	equity	NOUN
emaj-348	23	42	ratio	ratio	NOUN
emaj-348	23	43	,	,	PUNCT
emaj-348	23	44	to	to	PART
emaj-348	23	45	determine	determine	VERB
emaj-348	23	46	whether	whether	SCONJ
emaj-348	23	47	these	these	DET
emaj-348	23	48	dynamics	dynamic	NOUN
emaj-348	23	49	result	result	VERB
emaj-348	23	50	in	in	ADP
emaj-348	23	51	better	well	ADJ
emaj-348	23	52	market	market	NOUN
emaj-348	23	53	value	value	NOUN
emaj-348	23	54	and	and	CCONJ
emaj-348	23	55	profitability	profitability	NOUN
emaj-348	23	56	outcomes	outcome	NOUN
emaj-348	23	57	for	for	ADP
emaj-348	23	58	firms	firm	NOUN
emaj-348	23	59	.	.	PUNCT
emaj-348	24	1	given	give	VERB
emaj-348	24	2	the	the	DET
emaj-348	24	3	unique	unique	ADJ
emaj-348	24	4	socio	socio	NOUN
emaj-348	24	5	-	-	PUNCT
emaj-348	24	6	economic	economic	ADJ
emaj-348	24	7	and	and	CCONJ
emaj-348	24	8	regulatory	regulatory	ADJ
emaj-348	24	9	context	context	NOUN
emaj-348	24	10	of	of	ADP
emaj-348	24	11	nigeria	nigeria	PROPN
emaj-348	24	12	,	,	PUNCT
emaj-348	24	13	this	this	DET
emaj-348	24	14	study	study	NOUN
emaj-348	24	15	provides	provide	VERB
emaj-348	24	16	an	an	DET
emaj-348	24	17	opportunity	opportunity	NOUN
emaj-348	24	18	to	to	PART
emaj-348	24	19	explore	explore	VERB
emaj-348	24	20	whether	whether	SCONJ
emaj-348	24	21	the	the	DET
emaj-348	24	22	findings	finding	NOUN
emaj-348	24	23	from	from	ADP
emaj-348	24	24	developed	developed	ADJ
emaj-348	24	25	markets	market	NOUN
emaj-348	24	26	hold	hold	VERB
emaj-348	24	27	true	true	ADJ
emaj-348	24	28	in	in	ADP
emaj-348	24	29	an	an	DET
emaj-348	24	30	emerging	emerge	VERB
emaj-348	24	31	market	market	NOUN
emaj-348	24	32	setting	setting	NOUN
emaj-348	24	33	,	,	PUNCT
emaj-348	24	34	thereby	thereby	ADV
emaj-348	24	35	contributing	contribute	VERB
emaj-348	24	36	to	to	ADP
emaj-348	24	37	the	the	DET
emaj-348	24	38	broader	broad	ADJ
emaj-348	24	39	discourse	discourse	NOUN
emaj-348	24	40	on	on	ADP
emaj-348	24	41	corporate	corporate	ADJ
emaj-348	24	42	governance	governance	NOUN
emaj-348	24	43	and	and	CCONJ
emaj-348	24	44	capital	capital	NOUN
emaj-348	24	45	structure	structure	NOUN
emaj-348	24	46	dynamics	dynamic	NOUN
emaj-348	24	47	.	.	PUNCT
emaj-348	25	1	hence	hence	ADV
emaj-348	25	2	,	,	PUNCT
emaj-348	25	3	our	our	PRON
emaj-348	25	4	objectives	objective	NOUN
emaj-348	25	5	are	be	AUX
emaj-348	25	6	twofold	twofold	ADJ
emaj-348	25	7	:	:	PUNCT
emaj-348	25	8	first	first	ADV
emaj-348	25	9	,	,	PUNCT
emaj-348	25	10	to	to	PART
emaj-348	25	11	examine	examine	VERB
emaj-348	25	12	the	the	DET
emaj-348	25	13	direct	direct	ADJ
emaj-348	25	14	impact	impact	NOUN
emaj-348	25	15	of	of	ADP
emaj-348	25	16	capital	capital	NOUN
emaj-348	25	17	structure	structure	NOUN
emaj-348	25	18	on	on	ADP
emaj-348	25	19	firm	firm	ADJ
emaj-348	25	20	performance	performance	NOUN
emaj-348	25	21	using	use	VERB
emaj-348	25	22	market	market	NOUN
emaj-348	25	23	value	value	NOUN
emaj-348	25	24	(	(	PUNCT
emaj-348	25	25	tobin	tobin	NOUN
emaj-348	25	26	's	's	PART
emaj-348	25	27	q	q	NOUN
emaj-348	25	28	)	)	PUNCT
emaj-348	25	29	and	and	CCONJ
emaj-348	25	30	profitability	profitability	NOUN
emaj-348	25	31	(	(	PUNCT
emaj-348	25	32	return	return	VERB
emaj-348	25	33	on	on	ADP
emaj-348	25	34	assets	asset	NOUN
emaj-348	25	35	)	)	PUNCT
emaj-348	25	36	as	as	ADP
emaj-348	25	37	performance	performance	NOUN
emaj-348	25	38	measures	measure	NOUN
emaj-348	25	39	;	;	PUNCT
emaj-348	25	40	and	and	CCONJ
emaj-348	25	41	second	second	ADJ
emaj-348	25	42	,	,	PUNCT
emaj-348	25	43	to	to	PART
emaj-348	25	44	investigate	investigate	VERB
emaj-348	25	45	the	the	DET
emaj-348	25	46	moderating	moderate	VERB
emaj-348	25	47	effect	effect	NOUN
emaj-348	25	48	of	of	ADP
emaj-348	25	49	female	female	ADJ
emaj-348	25	50	board	board	NOUN
emaj-348	25	51	director	director	NOUN
emaj-348	25	52	presence	presence	NOUN
emaj-348	25	53	on	on	ADP
emaj-348	25	54	these	these	DET
emaj-348	25	55	relationships	relationship	NOUN
emaj-348	25	56	.	.	PUNCT
emaj-348	26	1	these	these	DET
emaj-348	26	2	objectives	objective	NOUN
emaj-348	26	3	are	be	AUX
emaj-348	26	4	grounded	ground	VERB
emaj-348	26	5	in	in	ADP
emaj-348	26	6	the	the	DET
emaj-348	26	7	premise	premise	NOUN
emaj-348	26	8	that	that	SCONJ
emaj-348	26	9	governance	governance	NOUN
emaj-348	26	10	mechanisms	mechanism	NOUN
emaj-348	26	11	,	,	PUNCT
emaj-348	26	12	particularly	particularly	ADV
emaj-348	26	13	board	board	NOUN
emaj-348	26	14	diversity	diversity	NOUN
emaj-348	26	15	,	,	PUNCT
emaj-348	26	16	could	could	AUX
emaj-348	26	17	influence	influence	VERB
emaj-348	26	18	financial	financial	ADJ
emaj-348	26	19	decision	decision	NOUN
emaj-348	26	20	-	-	PUNCT
emaj-348	26	21	making	making	NOUN
emaj-348	26	22	and	and	CCONJ
emaj-348	26	23	outcomes	outcome	NOUN
emaj-348	26	24	(	(	PUNCT
emaj-348	26	25	almaqtari	almaqtari	INTJ
emaj-348	26	26	et	et	PROPN
emaj-348	26	27	al	al	PROPN
emaj-348	26	28	.	.	PROPN
emaj-348	26	29	,	,	PUNCT
emaj-348	26	30	2021	2021	NUM
emaj-348	26	31	;	;	PUNCT
emaj-348	26	32	anh	anh	PROPN
emaj-348	26	33	,	,	PUNCT
emaj-348	26	34	duong	duong	PROPN
emaj-348	26	35	and	and	CCONJ
emaj-348	26	36	yoon	yoon	PROPN
emaj-348	26	37	,	,	PUNCT
emaj-348	26	38	2018	2018	NUM
emaj-348	26	39	)	)	PUNCT
emaj-348	26	40	.	.	PUNCT
emaj-348	27	1	prior	prior	ADJ
emaj-348	27	2	studies	study	NOUN
emaj-348	27	3	in	in	ADP
emaj-348	27	4	developed	develop	VERB
emaj-348	27	5	markets	market	NOUN
emaj-348	27	6	have	have	AUX
emaj-348	27	7	shown	show	VERB
emaj-348	27	8	that	that	SCONJ
emaj-348	27	9	female	female	ADJ
emaj-348	27	10	directors	director	NOUN
emaj-348	27	11	can	can	AUX
emaj-348	27	12	enhance	enhance	VERB
emaj-348	27	13	firm	firm	ADJ
emaj-348	27	14	performance	performance	NOUN
emaj-348	27	15	by	by	ADP
emaj-348	27	16	bringing	bring	VERB
emaj-348	27	17	diverse	diverse	ADJ
emaj-348	27	18	perspectives	perspective	NOUN
emaj-348	27	19	and	and	CCONJ
emaj-348	27	20	reducing	reduce	VERB
emaj-348	27	21	agency	agency	NOUN
emaj-348	27	22	conflicts	conflict	NOUN
emaj-348	27	23	performance	performance	NOUN
emaj-348	27	24	(	(	PUNCT
emaj-348	27	25	almaqtari	almaqtari	INTJ
emaj-348	27	26	et	et	PROPN
emaj-348	27	27	al	al	PROPN
emaj-348	27	28	.	.	PROPN
emaj-348	27	29	,	,	PUNCT
emaj-348	27	30	2021	2021	NUM
emaj-348	27	31	;	;	PUNCT
emaj-348	27	32	detthamrong	detthamrong	NOUN
emaj-348	27	33	,	,	PUNCT
emaj-348	27	34	chancharat	chancharat	NOUN
emaj-348	27	35	and	and	CCONJ
emaj-348	27	36	vithessonthi	vithessonthi	NOUN
emaj-348	27	37	,	,	PUNCT
emaj-348	27	38	2017	2017	NUM
emaj-348	27	39	)	)	PUNCT
emaj-348	27	40	,	,	PUNCT
emaj-348	27	41	but	but	CCONJ
emaj-348	27	42	this	this	DET
emaj-348	27	43	study	study	NOUN
emaj-348	27	44	seeks	seek	VERB
emaj-348	27	45	to	to	PART
emaj-348	27	46	test	test	VERB
emaj-348	27	47	these	these	DET
emaj-348	27	48	findings	finding	NOUN
emaj-348	27	49	in	in	ADP
emaj-348	27	50	the	the	DET
emaj-348	27	51	context	context	NOUN
emaj-348	27	52	of	of	ADP
emaj-348	27	53	nigerian	nigerian	ADJ
emaj-348	27	54	non	non	ADJ
emaj-348	27	55	-	-	ADJ
emaj-348	27	56	financial	financial	ADJ
emaj-348	27	57	firms	firm	NOUN
emaj-348	27	58	,	,	PUNCT
emaj-348	27	59	where	where	SCONJ
emaj-348	27	60	institutional	institutional	ADJ
emaj-348	27	61	and	and	CCONJ
emaj-348	27	62	cultural	cultural	ADJ
emaj-348	27	63	factors	factor	NOUN
emaj-348	27	64	may	may	AUX
emaj-348	27	65	alter	alter	VERB
emaj-348	27	66	the	the	DET
emaj-348	27	67	effectiveness	effectiveness	NOUN
emaj-348	27	68	of	of	ADP
emaj-348	27	69	gender	gender	NOUN
emaj-348	27	70	diversity	diversity	NOUN
emaj-348	27	71	as	as	ADP
emaj-348	27	72	a	a	DET
emaj-348	27	73	governance	governance	NOUN
emaj-348	27	74	tool	tool	NOUN
emaj-348	27	75	.	.	PUNCT
emaj-348	28	1	nigeria	nigeria	PROPN
emaj-348	28	2	's	's	PART
emaj-348	28	3	corporate	corporate	ADJ
emaj-348	28	4	environment	environment	NOUN
emaj-348	28	5	presents	present	VERB
emaj-348	28	6	distinct	distinct	ADJ
emaj-348	28	7	challenges	challenge	NOUN
emaj-348	28	8	,	,	PUNCT
emaj-348	28	9	including	include	VERB
emaj-348	28	10	less	less	ADV
emaj-348	28	11	stringent	stringent	ADJ
emaj-348	28	12	regulations	regulation	NOUN
emaj-348	28	13	,	,	PUNCT
emaj-348	28	14	lower	low	ADJ
emaj-348	28	15	investor	investor	NOUN
emaj-348	28	16	protections	protection	NOUN
emaj-348	28	17	,	,	PUNCT
emaj-348	28	18	and	and	CCONJ
emaj-348	28	19	concentrated	concentrated	ADJ
emaj-348	28	20	ownership	ownership	NOUN
emaj-348	28	21	,	,	PUNCT
emaj-348	28	22	which	which	PRON
emaj-348	28	23	differentiate	differentiate	VERB
emaj-348	28	24	it	it	PRON
emaj-348	28	25	from	from	ADP
emaj-348	28	26	the	the	DET
emaj-348	28	27	developed	develop	VERB
emaj-348	28	28	markets	market	NOUN
emaj-348	28	29	previously	previously	ADV
emaj-348	28	30	examined	examine	VERB
emaj-348	28	31	in	in	ADP
emaj-348	28	32	the	the	DET
emaj-348	28	33	literature	literature	NOUN
emaj-348	28	34	(	(	PUNCT
emaj-348	28	35	cappa	cappa	PROPN
emaj-348	28	36	,	,	PUNCT
emaj-348	28	37	cetrini	cetrini	NOUN
emaj-348	28	38	and	and	CCONJ
emaj-348	28	39	oriani	oriani	NOUN
emaj-348	28	40	,	,	PUNCT
emaj-348	28	41	2020	2020	NUM
emaj-348	28	42	;	;	PUNCT
emaj-348	28	43	owusu	owusu	PROPN
emaj-348	28	44	adusei	adusei	PROPN
emaj-348	28	45	and	and	CCONJ
emaj-348	28	46	amoa	amoa	PROPN
emaj-348	28	47	gyarteng	gyarteng	NOUN
emaj-348	28	48	,	,	PUNCT
emaj-348	28	49	2023	2023	NUM
emaj-348	28	50	)	)	PUNCT
emaj-348	28	51	.	.	PUNCT
emaj-348	29	1	these	these	DET
emaj-348	29	2	conditions	condition	NOUN
emaj-348	29	3	suggest	suggest	VERB
emaj-348	29	4	that	that	SCONJ
emaj-348	29	5	the	the	DET
emaj-348	29	6	impact	impact	NOUN
emaj-348	29	7	of	of	ADP
emaj-348	29	8	female	female	ADJ
emaj-348	29	9	board	board	NOUN
emaj-348	29	10	director	director	NOUN
emaj-348	29	11	presence	presence	NOUN
emaj-348	29	12	on	on	ADP
emaj-348	29	13	firm	firm	ADJ
emaj-348	29	14	performance	performance	NOUN
emaj-348	29	15	could	could	AUX
emaj-348	29	16	manifest	manifest	VERB
emaj-348	29	17	differently	differently	ADV
emaj-348	29	18	,	,	PUNCT
emaj-348	29	19	providing	provide	VERB
emaj-348	29	20	a	a	DET
emaj-348	29	21	distinct	distinct	ADJ
emaj-348	29	22	contribution	contribution	NOUN
emaj-348	29	23	to	to	ADP
emaj-348	29	24	the	the	DET
emaj-348	29	25	understanding	understanding	NOUN
emaj-348	29	26	of	of	ADP
emaj-348	29	27	capital	capital	NOUN
emaj-348	29	28	structure	structure	NOUN
emaj-348	29	29	dynamics	dynamic	NOUN
emaj-348	29	30	in	in	ADP
emaj-348	29	31	emerging	emerge	VERB
emaj-348	29	32	markets	market	NOUN
emaj-348	29	33	.	.	PUNCT
emaj-348	30	1	furthermore	furthermore	ADV
emaj-348	30	2	,	,	PUNCT
emaj-348	30	3	recent	recent	ADJ
emaj-348	30	4	regulatory	regulatory	ADJ
emaj-348	30	5	initiatives	initiative	NOUN
emaj-348	30	6	by	by	ADP
emaj-348	30	7	the	the	DET
emaj-348	30	8	securities	securities	PROPN
emaj-348	30	9	and	and	CCONJ
emaj-348	30	10	exchange	exchange	PROPN
emaj-348	30	11	commission	commission	PROPN
emaj-348	30	12	(	(	PUNCT
emaj-348	30	13	sec	sec	PROPN
emaj-348	30	14	)	)	PUNCT
emaj-348	30	15	aimed	aim	VERB
emaj-348	30	16	at	at	ADP
emaj-348	30	17	increasing	increase	VERB
emaj-348	30	18	gender	gender	NOUN
emaj-348	30	19	diversity	diversity	NOUN
emaj-348	30	20	on	on	ADP
emaj-348	30	21	corporate	corporate	ADJ
emaj-348	30	22	boards	board	NOUN
emaj-348	30	23	in	in	ADP
emaj-348	30	24	nigeria	nigeria	PROPN
emaj-348	30	25	present	present	VERB
emaj-348	30	26	an	an	DET
emaj-348	30	27	opportunity	opportunity	NOUN
emaj-348	30	28	to	to	PART
emaj-348	30	29	assess	assess	VERB
emaj-348	30	30	whether	whether	SCONJ
emaj-348	30	31	these	these	DET
emaj-348	30	32	policies	policy	NOUN
emaj-348	30	33	are	be	AUX
emaj-348	30	34	achieving	achieve	VERB
emaj-348	30	35	their	their	PRON
emaj-348	30	36	intended	intended	ADJ
emaj-348	30	37	outcomes	outcome	NOUN
emaj-348	30	38	of	of	ADP
emaj-348	30	39	enhancing	enhance	VERB
emaj-348	30	40	governance	governance	NOUN
emaj-348	30	41	and	and	CCONJ
emaj-348	30	42	firm	firm	ADJ
emaj-348	30	43	performance	performance	NOUN
emaj-348	30	44	.	.	PUNCT
emaj-348	31	1	drawing	draw	VERB
emaj-348	31	2	from	from	ADP
emaj-348	31	3	feminist	feminist	PROPN
emaj-348	31	4	theory	theory	NOUN
emaj-348	31	5	,	,	PUNCT
emaj-348	31	6	trade	trade	NOUN
emaj-348	31	7	-	-	PUNCT
emaj-348	31	8	off	off	ADP
emaj-348	31	9	theory	theory	NOUN
emaj-348	31	10	,	,	PUNCT
emaj-348	31	11	and	and	CCONJ
emaj-348	31	12	agency	agency	NOUN
emaj-348	31	13	theory	theory	NOUN
emaj-348	31	14	,	,	PUNCT
emaj-348	31	15	we	we	PRON
emaj-348	31	16	provide	provide	VERB
emaj-348	31	17	comprehensive	comprehensive	ADJ
emaj-348	31	18	insights	insight	NOUN
emaj-348	31	19	into	into	ADP
emaj-348	31	20	how	how	SCONJ
emaj-348	31	21	board	board	NOUN
emaj-348	31	22	diversity	diversity	NOUN
emaj-348	31	23	interacts	interact	VERB
emaj-348	31	24	with	with	ADP
emaj-348	31	25	capital	capital	NOUN
emaj-348	31	26	structure	structure	NOUN
emaj-348	31	27	decisions	decision	NOUN
emaj-348	31	28	to	to	PART
emaj-348	31	29	influence	influence	VERB
emaj-348	31	30	firm	firm	ADJ
emaj-348	31	31	performance	performance	NOUN
emaj-348	31	32	.	.	PUNCT
emaj-348	32	1	feminist	feminist	PROPN
emaj-348	32	2	theory	theory	NOUN
emaj-348	32	3	suggests	suggest	VERB
emaj-348	32	4	that	that	SCONJ
emaj-348	32	5	female	female	ADJ
emaj-348	32	6	representation	representation	NOUN
emaj-348	32	7	in	in	ADP
emaj-348	32	8	leadership	leadership	NOUN
emaj-348	32	9	contributes	contribute	VERB
emaj-348	32	10	to	to	ADP
emaj-348	32	11	more	more	ADV
emaj-348	32	12	balanced	balanced	ADJ
emaj-348	32	13	decision	decision	NOUN
emaj-348	32	14	-	-	PUNCT
emaj-348	32	15	making	make	VERB
emaj-348	32	16	processes	process	NOUN
emaj-348	32	17	,	,	PUNCT
emaj-348	32	18	reducing	reduce	VERB
emaj-348	32	19	managerial	managerial	ADJ
emaj-348	32	20	bias	bias	NOUN
emaj-348	32	21	and	and	CCONJ
emaj-348	32	22	promoting	promote	VERB
emaj-348	32	23	ethical	ethical	ADJ
emaj-348	32	24	governance	governance	NOUN
emaj-348	32	25	(	(	PUNCT
emaj-348	32	26	grosvold	grosvold	ADJ
emaj-348	32	27	,	,	PUNCT
emaj-348	32	28	rayton	rayton	NOUN
emaj-348	32	29	and	and	CCONJ
emaj-348	32	30	brammer	brammer	NOUN
emaj-348	32	31	,	,	PUNCT
emaj-348	32	32	2016	2016	NUM
emaj-348	32	33	)	)	PUNCT
emaj-348	32	34	.	.	PUNCT
emaj-348	33	1	trade	trade	NOUN
emaj-348	33	2	-	-	PUNCT
emaj-348	33	3	off	off	ADP
emaj-348	33	4	theory	theory	NOUN
emaj-348	33	5	posits	posit	NOUN
emaj-348	33	6	that	that	SCONJ
emaj-348	33	7	firms	firm	NOUN
emaj-348	33	8	seek	seek	VERB
emaj-348	33	9	to	to	PART
emaj-348	33	10	balance	balance	VERB
emaj-348	33	11	the	the	DET
emaj-348	33	12	costs	cost	NOUN
emaj-348	33	13	and	and	CCONJ
emaj-348	33	14	benefits	benefit	NOUN
emaj-348	33	15	of	of	ADP
emaj-348	33	16	debt	debt	NOUN
emaj-348	33	17	and	and	CCONJ
emaj-348	33	18	equity	equity	NOUN
emaj-348	33	19	to	to	PART
emaj-348	33	20	optimize	optimize	VERB
emaj-348	33	21	their	their	PRON
emaj-348	33	22	capital	capital	NOUN
emaj-348	33	23	structure	structure	NOUN
emaj-348	33	24	,	,	PUNCT
emaj-348	33	25	and	and	CCONJ
emaj-348	33	26	female	female	ADJ
emaj-348	33	27	directors	director	NOUN
emaj-348	33	28	may	may	AUX
emaj-348	33	29	influence	influence	VERB
emaj-348	33	30	this	this	DET
emaj-348	33	31	balance	balance	NOUN
emaj-348	33	32	by	by	ADP
emaj-348	33	33	providing	provide	VERB
emaj-348	33	34	diverse	diverse	ADJ
emaj-348	33	35	perspectives	perspective	NOUN
emaj-348	33	36	on	on	ADP
emaj-348	33	37	risk	risk	NOUN
emaj-348	33	38	management	management	NOUN
emaj-348	33	39	(	(	PUNCT
emaj-348	33	40	kumar	kumar	PROPN
emaj-348	33	41	,	,	PUNCT
emaj-348	33	42	sureka	sureka	NOUN
emaj-348	33	43	and	and	CCONJ
emaj-348	33	44	colombage	colombage	NOUN
emaj-348	33	45	,	,	PUNCT
emaj-348	33	46	2020	2020	NUM
emaj-348	33	47	)	)	PUNCT
emaj-348	33	48	.	.	PUNCT
emaj-348	34	1	agency	agency	NOUN
emaj-348	34	2	theory	theory	NOUN
emaj-348	34	3	supports	support	VERB
emaj-348	34	4	the	the	DET
emaj-348	34	5	moderating	moderate	VERB
emaj-348	34	6	role	role	NOUN
emaj-348	34	7	of	of	ADP
emaj-348	34	8	female	female	ADJ
emaj-348	34	9	directors	director	NOUN
emaj-348	34	10	by	by	ADP
emaj-348	34	11	suggesting	suggest	VERB
emaj-348	34	12	that	that	SCONJ
emaj-348	34	13	gender	gender	NOUN
emaj-348	34	14	diversity	diversity	NOUN
emaj-348	34	15	can	can	AUX
emaj-348	34	16	mitigate	mitigate	VERB
emaj-348	34	17	agency	agency	NOUN
emaj-348	34	18	conflicts	conflict	NOUN
emaj-348	34	19	between	between	ADP
emaj-348	34	20	managers	manager	NOUN
emaj-348	34	21	and	and	CCONJ
emaj-348	34	22	shareholders	shareholder	NOUN
emaj-348	34	23	,	,	PUNCT
emaj-348	34	24	thereby	thereby	ADV
emaj-348	34	25	enhancing	enhance	VERB
emaj-348	34	26	firm	firm	ADJ
emaj-348	34	27	performance	performance	NOUN
emaj-348	34	28	(	(	PUNCT
emaj-348	34	29	abdullah	abdullah	PROPN
emaj-348	34	30	,	,	PUNCT
emaj-348	34	31	2014	2014	NUM
emaj-348	34	32	)	)	PUNCT
emaj-348	34	33	.	.	PUNCT
emaj-348	35	1	thus	thus	ADV
emaj-348	35	2	,	,	PUNCT
emaj-348	35	3	we	we	PRON
emaj-348	35	4	contribute	contribute	VERB
emaj-348	35	5	to	to	ADP
emaj-348	35	6	the	the	DET
emaj-348	35	7	literature	literature	NOUN
emaj-348	35	8	by	by	ADP
emaj-348	35	9	providing	provide	VERB
emaj-348	35	10	new	new	ADJ
emaj-348	35	11	evidence	evidence	NOUN
emaj-348	35	12	on	on	ADP
emaj-348	35	13	the	the	DET
emaj-348	35	14	moderating	moderate	VERB
emaj-348	35	15	role	role	NOUN
emaj-348	35	16	of	of	ADP
emaj-348	35	17	female	female	ADJ
emaj-348	35	18	board	board	NOUN
emaj-348	35	19	presence	presence	NOUN
emaj-348	35	20	in	in	ADP
emaj-348	35	21	the	the	DET
emaj-348	35	22	relationship	relationship	NOUN
emaj-348	35	23	between	between	ADP
emaj-348	35	24	capital	capital	NOUN
emaj-348	35	25	structure	structure	NOUN
emaj-348	35	26	and	and	CCONJ
emaj-348	35	27	firm	firm	ADJ
emaj-348	35	28	performance	performance	NOUN
emaj-348	35	29	in	in	ADP
emaj-348	35	30	an	an	DET
emaj-348	35	31	emerging	emerge	VERB
emaj-348	35	32	market	market	NOUN
emaj-348	35	33	volume	volume	NOUN
emaj-348	35	34	14	14	NUM
emaj-348	35	35	no	no	DET
emaj-348	35	36	2	2	NUM
emaj-348	35	37	(	(	PUNCT
emaj-348	35	38	2024	2024	NUM
emaj-348	35	39	)	)	PUNCT
emaj-348	35	40	|	|	ADV
emaj-348	35	41	issn	issn	VERB
emaj-348	35	42	2158	2158	NUM
emaj-348	35	43	-	-	SYM
emaj-348	35	44	8708	8708	NUM
emaj-348	35	45	(	(	PUNCT
emaj-348	35	46	online	online	NOUN
emaj-348	35	47	)	)	PUNCT
emaj-348	35	48	|	|	ADV
emaj-348	35	49	doi	doi	X
emaj-348	35	50	10.5195	10.5195	NUM
emaj-348	35	51	/	/	SYM
emaj-348	35	52	emaj.2024.348	emaj.2024.348	NOUN
emaj-348	35	53	|	|	NOUN
emaj-348	35	54	http://emaj.pitt.edu	http://emaj.pitt.edu	VERB
emaj-348	35	55	idorenyin	idorenyin	PROPN
emaj-348	35	56	okon	okon	PROPN
emaj-348	35	57	,	,	PUNCT
emaj-348	35	58	ozele	ozele	PROPN
emaj-348	35	59	clement	clement	PROPN
emaj-348	35	60	emerging	emerge	VERB
emaj-348	35	61	markets	market	NOUN
emaj-348	35	62	journal	journal	PROPN
emaj-348	35	63	page	page	NOUN
emaj-348	35	64	|35|	|35|	NOUN
emaj-348	35	65	context	context	NOUN
emaj-348	35	66	.	.	PUNCT
emaj-348	36	1	we	we	PRON
emaj-348	36	2	add	add	VERB
emaj-348	36	3	to	to	ADP
emaj-348	36	4	the	the	DET
emaj-348	36	5	understanding	understanding	NOUN
emaj-348	36	6	of	of	ADP
emaj-348	36	7	how	how	SCONJ
emaj-348	36	8	gender	gender	NOUN
emaj-348	36	9	diversity	diversity	NOUN
emaj-348	36	10	impacts	impact	VERB
emaj-348	36	11	financial	financial	ADJ
emaj-348	36	12	outcomes	outcome	NOUN
emaj-348	36	13	by	by	ADP
emaj-348	36	14	examining	examine	VERB
emaj-348	36	15	previously	previously	ADV
emaj-348	36	16	underexplored	underexplored	ADJ
emaj-348	36	17	settings	setting	NOUN
emaj-348	36	18	and	and	CCONJ
emaj-348	36	19	combinations	combination	NOUN
emaj-348	36	20	of	of	ADP
emaj-348	36	21	variables	variable	NOUN
emaj-348	36	22	,	,	PUNCT
emaj-348	36	23	such	such	ADJ
emaj-348	36	24	as	as	ADP
emaj-348	36	25	the	the	DET
emaj-348	36	26	equity	equity	NOUN
emaj-348	36	27	to	to	ADP
emaj-348	36	28	asset	asset	NOUN
emaj-348	36	29	ratio	ratio	NOUN
emaj-348	36	30	,	,	PUNCT
emaj-348	36	31	debt	debt	NOUN
emaj-348	36	32	to	to	ADP
emaj-348	36	33	asset	asset	NOUN
emaj-348	36	34	ratio	ratio	NOUN
emaj-348	36	35	,	,	PUNCT
emaj-348	36	36	and	and	CCONJ
emaj-348	36	37	debt	debt	NOUN
emaj-348	36	38	to	to	ADP
emaj-348	36	39	equity	equity	NOUN
emaj-348	36	40	ratio	ratio	NOUN
emaj-348	36	41	.	.	PUNCT
emaj-348	37	1	particularly	particularly	ADV
emaj-348	37	2	,	,	PUNCT
emaj-348	37	3	we	we	PRON
emaj-348	37	4	find	find	VERB
emaj-348	37	5	that	that	SCONJ
emaj-348	37	6	female	female	ADJ
emaj-348	37	7	board	board	NOUN
emaj-348	37	8	directors	director	NOUN
emaj-348	37	9	’	'	PUNCT
emaj-348	37	10	presence	presence	NOUN
emaj-348	37	11	significantly	significantly	ADV
emaj-348	37	12	alters	alter	VERB
emaj-348	37	13	or	or	CCONJ
emaj-348	37	14	moderates	moderate	VERB
emaj-348	37	15	the	the	DET
emaj-348	37	16	relationship	relationship	NOUN
emaj-348	37	17	between	between	ADP
emaj-348	37	18	capital	capital	NOUN
emaj-348	37	19	structure	structure	NOUN
emaj-348	37	20	and	and	CCONJ
emaj-348	37	21	firm	firm	ADJ
emaj-348	37	22	performance	performance	NOUN
emaj-348	37	23	.	.	PUNCT
emaj-348	38	1	our	our	PRON
emaj-348	38	2	findings	finding	NOUN
emaj-348	38	3	show	show	VERB
emaj-348	38	4	that	that	SCONJ
emaj-348	38	5	female	female	ADJ
emaj-348	38	6	board	board	NOUN
emaj-348	38	7	presence	presence	NOUN
emaj-348	38	8	enhances	enhance	VERB
emaj-348	38	9	profitability	profitability	NOUN
emaj-348	38	10	by	by	ADP
emaj-348	38	11	positively	positively	ADV
emaj-348	38	12	moderating	moderate	VERB
emaj-348	38	13	the	the	DET
emaj-348	38	14	mixed	mixed	ADJ
emaj-348	38	15	effects	effect	NOUN
emaj-348	38	16	results	result	NOUN
emaj-348	38	17	of	of	ADP
emaj-348	38	18	equity	equity	NOUN
emaj-348	38	19	to	to	ADP
emaj-348	38	20	asset	asset	NOUN
emaj-348	38	21	as	as	ADV
emaj-348	38	22	well	well	ADV
emaj-348	38	23	as	as	ADP
emaj-348	38	24	debt	debt	NOUN
emaj-348	38	25	to	to	ADP
emaj-348	38	26	equity	equity	NOUN
emaj-348	38	27	ratios	ratio	NOUN
emaj-348	38	28	and	and	CCONJ
emaj-348	38	29	performance	performance	NOUN
emaj-348	38	30	nexus	nexus	NOUN
emaj-348	38	31	,	,	PUNCT
emaj-348	38	32	suggesting	suggest	VERB
emaj-348	38	33	that	that	SCONJ
emaj-348	38	34	gender	gender	NOUN
emaj-348	38	35	diversity	diversity	NOUN
emaj-348	38	36	contributes	contribute	VERB
emaj-348	38	37	to	to	ADP
emaj-348	38	38	improved	improve	VERB
emaj-348	38	39	governance	governance	NOUN
emaj-348	38	40	practices	practice	NOUN
emaj-348	38	41	and	and	CCONJ
emaj-348	38	42	operational	operational	ADJ
emaj-348	38	43	efficiency	efficiency	NOUN
emaj-348	38	44	.	.	PUNCT
emaj-348	39	1	furthermore	furthermore	ADV
emaj-348	39	2	,	,	PUNCT
emaj-348	39	3	to	to	PART
emaj-348	39	4	ensure	ensure	VERB
emaj-348	39	5	the	the	DET
emaj-348	39	6	robustness	robustness	NOUN
emaj-348	39	7	of	of	ADP
emaj-348	39	8	our	our	PRON
emaj-348	39	9	findings	finding	NOUN
emaj-348	39	10	,	,	PUNCT
emaj-348	39	11	we	we	PRON
emaj-348	39	12	employed	employ	VERB
emaj-348	39	13	alternative	alternative	ADJ
emaj-348	39	14	measures	measure	NOUN
emaj-348	39	15	of	of	ADP
emaj-348	39	16	firm	firm	ADJ
emaj-348	39	17	performance	performance	NOUN
emaj-348	39	18	,	,	PUNCT
emaj-348	39	19	such	such	ADJ
emaj-348	39	20	as	as	ADP
emaj-348	39	21	market	market	NOUN
emaj-348	39	22	value	value	NOUN
emaj-348	39	23	added	add	VERB
emaj-348	39	24	,	,	PUNCT
emaj-348	39	25	which	which	PRON
emaj-348	39	26	consistently	consistently	ADV
emaj-348	39	27	supported	support	VERB
emaj-348	39	28	our	our	PRON
emaj-348	39	29	results	result	NOUN
emaj-348	39	30	,	,	PUNCT
emaj-348	39	31	confirming	confirm	VERB
emaj-348	39	32	that	that	SCONJ
emaj-348	39	33	the	the	DET
emaj-348	39	34	effects	effect	NOUN
emaj-348	39	35	of	of	ADP
emaj-348	39	36	capital	capital	NOUN
emaj-348	39	37	structure	structure	NOUN
emaj-348	39	38	on	on	ADP
emaj-348	39	39	performance	performance	NOUN
emaj-348	39	40	hold	hold	NOUN
emaj-348	39	41	across	across	ADP
emaj-348	39	42	different	different	ADJ
emaj-348	39	43	performance	performance	NOUN
emaj-348	39	44	indicators	indicator	NOUN
emaj-348	39	45	in	in	ADP
emaj-348	39	46	the	the	DET
emaj-348	39	47	presence	presence	NOUN
emaj-348	39	48	of	of	ADP
emaj-348	39	49	a	a	DET
emaj-348	39	50	female	female	ADJ
emaj-348	39	51	board	board	NOUN
emaj-348	39	52	directors	director	NOUN
emaj-348	39	53	.	.	PUNCT
emaj-348	40	1	the	the	DET
emaj-348	40	2	remainder	remainder	NOUN
emaj-348	40	3	of	of	ADP
emaj-348	40	4	the	the	DET
emaj-348	40	5	paper	paper	NOUN
emaj-348	40	6	is	be	AUX
emaj-348	40	7	structured	structure	VERB
emaj-348	40	8	as	as	SCONJ
emaj-348	40	9	follows	follow	VERB
emaj-348	40	10	:	:	PUNCT
emaj-348	40	11	the	the	DET
emaj-348	40	12	next	next	ADJ
emaj-348	40	13	section	section	NOUN
emaj-348	40	14	discusses	discuss	VERB
emaj-348	40	15	the	the	DET
emaj-348	40	16	theoretical	theoretical	ADJ
emaj-348	40	17	framework	framework	NOUN
emaj-348	40	18	and	and	CCONJ
emaj-348	40	19	hypotheses	hypothese	VERB
emaj-348	40	20	development	development	NOUN
emaj-348	40	21	,	,	PUNCT
emaj-348	40	22	followed	follow	VERB
emaj-348	40	23	by	by	ADP
emaj-348	40	24	a	a	DET
emaj-348	40	25	description	description	NOUN
emaj-348	40	26	of	of	ADP
emaj-348	40	27	the	the	DET
emaj-348	40	28	sample	sample	NOUN
emaj-348	40	29	and	and	CCONJ
emaj-348	40	30	the	the	DET
emaj-348	40	31	variables	variable	NOUN
emaj-348	40	32	used	use	VERB
emaj-348	40	33	in	in	ADP
emaj-348	40	34	the	the	DET
emaj-348	40	35	econometric	econometric	ADJ
emaj-348	40	36	model	model	NOUN
emaj-348	40	37	.	.	PUNCT
emaj-348	41	1	subsequently	subsequently	ADV
emaj-348	41	2	,	,	PUNCT
emaj-348	41	3	the	the	DET
emaj-348	41	4	analysis	analysis	NOUN
emaj-348	41	5	and	and	CCONJ
emaj-348	41	6	empirical	empirical	ADJ
emaj-348	41	7	results	result	NOUN
emaj-348	41	8	are	be	AUX
emaj-348	41	9	presented	present	VERB
emaj-348	41	10	,	,	PUNCT
emaj-348	41	11	and	and	CCONJ
emaj-348	41	12	finally	finally	ADV
emaj-348	41	13	,	,	PUNCT
emaj-348	41	14	the	the	DET
emaj-348	41	15	study	study	NOUN
emaj-348	41	16	concludes	conclude	VERB
emaj-348	41	17	with	with	ADP
emaj-348	41	18	implications	implication	NOUN
emaj-348	41	19	for	for	ADP
emaj-348	41	20	practice	practice	NOUN
emaj-348	41	21	and	and	CCONJ
emaj-348	41	22	policy	policy	NOUN
emaj-348	41	23	.	.	PUNCT
emaj-348	42	1	ii	ii	PROPN
emaj-348	42	2	.	.	PUNCT
emaj-348	43	1	theory	theory	NOUN
emaj-348	43	2	and	and	CCONJ
emaj-348	43	3	hypotheses	hypothese	VERB
emaj-348	43	4	development	development	NOUN
emaj-348	43	5	capital	capital	NOUN
emaj-348	43	6	structure	structure	NOUN
emaj-348	43	7	and	and	CCONJ
emaj-348	43	8	firm	firm	ADJ
emaj-348	43	9	performance	performance	NOUN
emaj-348	43	10	capital	capital	NOUN
emaj-348	43	11	structure	structure	NOUN
emaj-348	43	12	refers	refer	VERB
emaj-348	43	13	to	to	ADP
emaj-348	43	14	how	how	SCONJ
emaj-348	43	15	a	a	DET
emaj-348	43	16	firm	firm	NOUN
emaj-348	43	17	finances	finance	VERB
emaj-348	43	18	its	its	PRON
emaj-348	43	19	overall	overall	ADJ
emaj-348	43	20	operations	operation	NOUN
emaj-348	43	21	and	and	CCONJ
emaj-348	43	22	growth	growth	NOUN
emaj-348	43	23	through	through	ADP
emaj-348	43	24	different	different	ADJ
emaj-348	43	25	sources	source	NOUN
emaj-348	43	26	of	of	ADP
emaj-348	43	27	funds	fund	NOUN
emaj-348	43	28	(	(	PUNCT
emaj-348	43	29	zhang	zhang	X
emaj-348	43	30	et	et	PROPN
emaj-348	43	31	al	al	PROPN
emaj-348	43	32	.	.	PROPN
emaj-348	43	33	,	,	PUNCT
emaj-348	43	34	2022	2022	NUM
emaj-348	43	35	)	)	PUNCT
emaj-348	43	36	.	.	PUNCT
emaj-348	44	1	the	the	DET
emaj-348	44	2	capital	capital	NOUN
emaj-348	44	3	structure	structure	NOUN
emaj-348	44	4	decisions	decision	NOUN
emaj-348	44	5	directly	directly	ADV
emaj-348	44	6	influence	influence	VERB
emaj-348	44	7	a	a	DET
emaj-348	44	8	firm	firm	NOUN
emaj-348	44	9	's	's	PART
emaj-348	44	10	risk	risk	NOUN
emaj-348	44	11	and	and	CCONJ
emaj-348	44	12	return	return	VERB
emaj-348	44	13	profile	profile	NOUN
emaj-348	44	14	,	,	PUNCT
emaj-348	44	15	thereby	thereby	ADV
emaj-348	44	16	affecting	affect	VERB
emaj-348	44	17	its	its	PRON
emaj-348	44	18	financial	financial	ADJ
emaj-348	44	19	performance	performance	NOUN
emaj-348	44	20	.	.	PUNCT
emaj-348	45	1	performance	performance	NOUN
emaj-348	45	2	metrics	metric	NOUN
emaj-348	45	3	like	like	ADP
emaj-348	45	4	return	return	VERB
emaj-348	45	5	on	on	ADP
emaj-348	45	6	assets	asset	NOUN
emaj-348	45	7	(	(	PUNCT
emaj-348	45	8	roa	roa	NOUN
emaj-348	45	9	)	)	PUNCT
emaj-348	45	10	,	,	PUNCT
emaj-348	45	11	return	return	VERB
emaj-348	45	12	on	on	ADP
emaj-348	45	13	equity	equity	NOUN
emaj-348	45	14	(	(	PUNCT
emaj-348	45	15	roe	roe	PROPN
emaj-348	45	16	)	)	PUNCT
emaj-348	45	17	,	,	PUNCT
emaj-348	45	18	and	and	CCONJ
emaj-348	45	19	tobin	tobin	PROPN
emaj-348	45	20	's	's	PART
emaj-348	45	21	q	q	NOUN
emaj-348	45	22	are	be	AUX
emaj-348	45	23	often	often	ADV
emaj-348	45	24	used	use	VERB
emaj-348	45	25	as	as	ADP
emaj-348	45	26	proxies	proxy	NOUN
emaj-348	45	27	of	of	ADP
emaj-348	45	28	firm	firm	ADJ
emaj-348	45	29	performance	performance	NOUN
emaj-348	45	30	to	to	PART
emaj-348	45	31	measure	measure	VERB
emaj-348	45	32	the	the	DET
emaj-348	45	33	impact	impact	NOUN
emaj-348	45	34	of	of	ADP
emaj-348	45	35	capital	capital	NOUN
emaj-348	45	36	structure	structure	NOUN
emaj-348	45	37	on	on	ADP
emaj-348	45	38	firm	firm	ADJ
emaj-348	45	39	performance	performance	NOUN
emaj-348	45	40	(	(	PUNCT
emaj-348	45	41	kumar	kumar	PROPN
emaj-348	45	42	,	,	PUNCT
emaj-348	45	43	sureka	sureka	NOUN
emaj-348	45	44	and	and	CCONJ
emaj-348	45	45	colombage	colombage	NOUN
emaj-348	45	46	,	,	PUNCT
emaj-348	45	47	2020	2020	NUM
emaj-348	45	48	;	;	PUNCT
emaj-348	45	49	mehzabin	mehzabin	PROPN
emaj-348	45	50	et	et	NOUN
emaj-348	45	51	al	al	PROPN
emaj-348	45	52	.	.	PROPN
emaj-348	45	53	,	,	PUNCT
emaj-348	45	54	2023	2023	NUM
emaj-348	45	55	)	)	PUNCT
emaj-348	45	56	.	.	PUNCT
emaj-348	46	1	the	the	DET
emaj-348	46	2	implications	implication	NOUN
emaj-348	46	3	of	of	ADP
emaj-348	46	4	capital	capital	NOUN
emaj-348	46	5	structure	structure	NOUN
emaj-348	46	6	are	be	AUX
emaj-348	46	7	crucial	crucial	ADJ
emaj-348	46	8	as	as	SCONJ
emaj-348	46	9	higher	high	ADJ
emaj-348	46	10	debt	debt	NOUN
emaj-348	46	11	levels	level	NOUN
emaj-348	46	12	may	may	AUX
emaj-348	46	13	provide	provide	VERB
emaj-348	46	14	tax	tax	NOUN
emaj-348	46	15	benefits	benefit	NOUN
emaj-348	46	16	but	but	CCONJ
emaj-348	46	17	increase	increase	VERB
emaj-348	46	18	financial	financial	ADJ
emaj-348	46	19	risk	risk	NOUN
emaj-348	46	20	,	,	PUNCT
emaj-348	46	21	while	while	SCONJ
emaj-348	46	22	lower	low	ADJ
emaj-348	46	23	leverage	leverage	NOUN
emaj-348	46	24	can	can	AUX
emaj-348	46	25	signal	signal	VERB
emaj-348	46	26	a	a	DET
emaj-348	46	27	conservative	conservative	ADJ
emaj-348	46	28	approach	approach	NOUN
emaj-348	46	29	but	but	CCONJ
emaj-348	46	30	limit	limit	VERB
emaj-348	46	31	growth	growth	NOUN
emaj-348	46	32	potential	potential	NOUN
emaj-348	46	33	.	.	PUNCT
emaj-348	47	1	on	on	ADP
emaj-348	47	2	one	one	NUM
emaj-348	47	3	hand	hand	NOUN
emaj-348	47	4	,	,	PUNCT
emaj-348	47	5	the	the	DET
emaj-348	47	6	trade	trade	NOUN
emaj-348	47	7	-	-	PUNCT
emaj-348	47	8	off	off	ADP
emaj-348	47	9	theory	theory	NOUN
emaj-348	47	10	is	be	AUX
emaj-348	47	11	central	central	ADJ
emaj-348	47	12	to	to	ADP
emaj-348	47	13	understanding	understand	VERB
emaj-348	47	14	the	the	DET
emaj-348	47	15	relationship	relationship	NOUN
emaj-348	47	16	between	between	ADP
emaj-348	47	17	capital	capital	NOUN
emaj-348	47	18	structure	structure	NOUN
emaj-348	47	19	and	and	CCONJ
emaj-348	47	20	firm	firm	ADJ
emaj-348	47	21	performance	performance	NOUN
emaj-348	47	22	.	.	PUNCT
emaj-348	48	1	according	accord	VERB
emaj-348	48	2	to	to	ADP
emaj-348	48	3	this	this	DET
emaj-348	48	4	theory	theory	NOUN
emaj-348	48	5	,	,	PUNCT
emaj-348	48	6	firms	firm	NOUN
emaj-348	48	7	balance	balance	VERB
emaj-348	48	8	the	the	DET
emaj-348	48	9	costs	cost	NOUN
emaj-348	48	10	and	and	CCONJ
emaj-348	48	11	benefits	benefit	NOUN
emaj-348	48	12	of	of	ADP
emaj-348	48	13	debt	debt	NOUN
emaj-348	48	14	to	to	PART
emaj-348	48	15	achieve	achieve	VERB
emaj-348	48	16	an	an	DET
emaj-348	48	17	optimal	optimal	ADJ
emaj-348	48	18	capital	capital	NOUN
emaj-348	48	19	structure	structure	NOUN
emaj-348	48	20	(	(	PUNCT
emaj-348	48	21	kraus	kraus	PROPN
emaj-348	48	22	and	and	CCONJ
emaj-348	48	23	litzenberger	litzenberger	NOUN
emaj-348	48	24	,	,	PUNCT
emaj-348	48	25	1973	1973	NUM
emaj-348	48	26	)	)	PUNCT
emaj-348	48	27	.	.	PUNCT
emaj-348	49	1	debt	debt	NOUN
emaj-348	49	2	provides	provide	VERB
emaj-348	49	3	a	a	DET
emaj-348	49	4	tax	tax	NOUN
emaj-348	49	5	shield	shield	NOUN
emaj-348	49	6	on	on	ADP
emaj-348	49	7	interest	interest	NOUN
emaj-348	49	8	payments	payment	NOUN
emaj-348	49	9	,	,	PUNCT
emaj-348	49	10	but	but	CCONJ
emaj-348	49	11	excessive	excessive	ADJ
emaj-348	49	12	reliance	reliance	NOUN
emaj-348	49	13	on	on	ADP
emaj-348	49	14	debt	debt	NOUN
emaj-348	49	15	increases	increase	VERB
emaj-348	49	16	bankruptcy	bankruptcy	NOUN
emaj-348	49	17	risk	risk	NOUN
emaj-348	49	18	(	(	PUNCT
emaj-348	49	19	bajaj	bajaj	PROPN
emaj-348	49	20	,	,	PUNCT
emaj-348	49	21	kashiramka	kashiramka	NOUN
emaj-348	49	22	and	and	CCONJ
emaj-348	49	23	singh	singh	NOUN
emaj-348	49	24	,	,	PUNCT
emaj-348	49	25	2018	2018	NUM
emaj-348	49	26	)	)	PUNCT
emaj-348	49	27	.	.	PUNCT
emaj-348	50	1	firms	firm	NOUN
emaj-348	50	2	are	be	AUX
emaj-348	50	3	expected	expect	VERB
emaj-348	50	4	to	to	PART
emaj-348	50	5	increase	increase	VERB
emaj-348	50	6	debt	debt	NOUN
emaj-348	50	7	to	to	PART
emaj-348	50	8	capitalize	capitalize	VERB
emaj-348	50	9	on	on	ADP
emaj-348	50	10	the	the	DET
emaj-348	50	11	tax	tax	NOUN
emaj-348	50	12	shield	shield	NOUN
emaj-348	50	13	until	until	SCONJ
emaj-348	50	14	the	the	DET
emaj-348	50	15	marginal	marginal	ADJ
emaj-348	50	16	benefit	benefit	NOUN
emaj-348	50	17	of	of	ADP
emaj-348	50	18	debt	debt	NOUN
emaj-348	50	19	equals	equal	VERB
emaj-348	50	20	the	the	DET
emaj-348	50	21	marginal	marginal	ADJ
emaj-348	50	22	cost	cost	NOUN
emaj-348	50	23	of	of	ADP
emaj-348	50	24	potential	potential	ADJ
emaj-348	50	25	financial	financial	ADJ
emaj-348	50	26	distress	distress	NOUN
emaj-348	50	27	.	.	PUNCT
emaj-348	51	1	this	this	DET
emaj-348	51	2	balancing	balancing	NOUN
emaj-348	51	3	act	act	NOUN
emaj-348	51	4	has	have	VERB
emaj-348	51	5	a	a	DET
emaj-348	51	6	direct	direct	ADJ
emaj-348	51	7	impact	impact	NOUN
emaj-348	51	8	on	on	ADP
emaj-348	51	9	firm	firm	ADJ
emaj-348	51	10	performance	performance	NOUN
emaj-348	51	11	,	,	PUNCT
emaj-348	51	12	as	as	SCONJ
emaj-348	51	13	evidenced	evidence	VERB
emaj-348	51	14	by	by	ADP
emaj-348	51	15	empirical	empirical	ADJ
emaj-348	51	16	studies	study	NOUN
emaj-348	51	17	in	in	ADP
emaj-348	51	18	various	various	ADJ
emaj-348	51	19	industries	industry	NOUN
emaj-348	51	20	(	(	PUNCT
emaj-348	51	21	abdullah	abdullah	NOUN
emaj-348	51	22	and	and	CCONJ
emaj-348	51	23	tursoy	tursoy	ADJ
emaj-348	51	24	,	,	PUNCT
emaj-348	51	25	2021	2021	NUM
emaj-348	51	26	)	)	PUNCT
emaj-348	51	27	.	.	PUNCT
emaj-348	52	1	the	the	DET
emaj-348	52	2	trade	trade	NOUN
emaj-348	52	3	-	-	PUNCT
emaj-348	52	4	off	off	ADP
emaj-348	52	5	theory	theory	NOUN
emaj-348	52	6	also	also	ADV
emaj-348	52	7	suggests	suggest	VERB
emaj-348	52	8	that	that	SCONJ
emaj-348	52	9	the	the	DET
emaj-348	52	10	decision	decision	NOUN
emaj-348	52	11	to	to	PART
emaj-348	52	12	utilize	utilize	VERB
emaj-348	52	13	debt	debt	NOUN
emaj-348	52	14	depends	depend	VERB
emaj-348	52	15	on	on	ADP
emaj-348	52	16	a	a	DET
emaj-348	52	17	firm	firm	NOUN
emaj-348	52	18	’s	’s	PART
emaj-348	52	19	financial	financial	ADJ
emaj-348	52	20	stability	stability	NOUN
emaj-348	52	21	and	and	CCONJ
emaj-348	52	22	the	the	DET
emaj-348	52	23	risk	risk	NOUN
emaj-348	52	24	profile	profile	NOUN
emaj-348	52	25	of	of	ADP
emaj-348	52	26	its	its	PRON
emaj-348	52	27	industry	industry	NOUN
emaj-348	52	28	.	.	PUNCT
emaj-348	53	1	firms	firm	NOUN
emaj-348	53	2	in	in	ADP
emaj-348	53	3	capital	capital	NOUN
emaj-348	53	4	-	-	PUNCT
emaj-348	53	5	intensive	intensive	ADJ
emaj-348	53	6	industries	industry	NOUN
emaj-348	53	7	tend	tend	VERB
emaj-348	53	8	to	to	PART
emaj-348	53	9	have	have	VERB
emaj-348	53	10	higher	high	ADJ
emaj-348	53	11	leverage	leverage	NOUN
emaj-348	53	12	because	because	SCONJ
emaj-348	53	13	they	they	PRON
emaj-348	53	14	benefit	benefit	VERB
emaj-348	53	15	more	more	ADV
emaj-348	53	16	from	from	ADP
emaj-348	53	17	tax	tax	NOUN
emaj-348	53	18	shields	shield	NOUN
emaj-348	53	19	(	(	PUNCT
emaj-348	53	20	mehzabin	mehzabin	PROPN
emaj-348	53	21	et	et	PROPN
emaj-348	53	22	al	al	PROPN
emaj-348	53	23	.	.	PROPN
emaj-348	53	24	,	,	PUNCT
emaj-348	53	25	2023	2023	NUM
emaj-348	53	26	)	)	PUNCT
emaj-348	53	27	.	.	PUNCT
emaj-348	54	1	therefore	therefore	ADV
emaj-348	54	2	,	,	PUNCT
emaj-348	54	3	applying	apply	VERB
emaj-348	54	4	this	this	DET
emaj-348	54	5	theory	theory	NOUN
emaj-348	54	6	in	in	ADP
emaj-348	54	7	the	the	DET
emaj-348	54	8	context	context	NOUN
emaj-348	54	9	of	of	ADP
emaj-348	54	10	firms	firm	NOUN
emaj-348	54	11	in	in	ADP
emaj-348	54	12	nigeria	nigeria	PROPN
emaj-348	54	13	implies	imply	VERB
emaj-348	54	14	that	that	SCONJ
emaj-348	54	15	companies	company	NOUN
emaj-348	54	16	will	will	AUX
emaj-348	54	17	optimize	optimize	VERB
emaj-348	54	18	their	their	PRON
emaj-348	54	19	capital	capital	NOUN
emaj-348	54	20	structure	structure	NOUN
emaj-348	54	21	to	to	PART
emaj-348	54	22	balance	balance	VERB
emaj-348	54	23	between	between	ADP
emaj-348	54	24	tax	tax	NOUN
emaj-348	54	25	benefits	benefit	NOUN
emaj-348	54	26	and	and	CCONJ
emaj-348	54	27	financial	financial	ADJ
emaj-348	54	28	risk	risk	NOUN
emaj-348	54	29	,	,	PUNCT
emaj-348	54	30	ultimately	ultimately	ADV
emaj-348	54	31	enhancing	enhance	VERB
emaj-348	54	32	performance	performance	NOUN
emaj-348	54	33	.	.	PUNCT
emaj-348	55	1	on	on	ADP
emaj-348	55	2	the	the	DET
emaj-348	55	3	other	other	ADJ
emaj-348	55	4	hand	hand	NOUN
emaj-348	55	5	,	,	PUNCT
emaj-348	55	6	research	research	NOUN
emaj-348	55	7	on	on	ADP
emaj-348	55	8	the	the	DET
emaj-348	55	9	relationship	relationship	NOUN
emaj-348	55	10	between	between	ADP
emaj-348	55	11	capital	capital	NOUN
emaj-348	55	12	structure	structure	NOUN
emaj-348	55	13	and	and	CCONJ
emaj-348	55	14	firm	firm	ADJ
emaj-348	55	15	performance	performance	NOUN
emaj-348	55	16	in	in	ADP
emaj-348	55	17	various	various	ADJ
emaj-348	55	18	contexts	context	NOUN
emaj-348	55	19	has	have	AUX
emaj-348	55	20	yielded	yield	VERB
emaj-348	55	21	mixed	mixed	ADJ
emaj-348	55	22	results	result	NOUN
emaj-348	55	23	.	.	PUNCT
emaj-348	56	1	for	for	ADP
emaj-348	56	2	instance	instance	NOUN
emaj-348	56	3	,	,	PUNCT
emaj-348	56	4	mangudhla	mangudhla	NOUN
emaj-348	56	5	,	,	PUNCT
emaj-348	56	6	dodoo	dodoo	NOUN
emaj-348	56	7	and	and	CCONJ
emaj-348	56	8	kumi	kumi	PROPN
emaj-348	56	9	(	(	PUNCT
emaj-348	56	10	2023	2023	NUM
emaj-348	56	11	)	)	PUNCT
emaj-348	56	12	examined	examine	VERB
emaj-348	56	13	nonfinancial	nonfinancial	ADJ
emaj-348	56	14	firms	firm	NOUN
emaj-348	56	15	in	in	ADP
emaj-348	56	16	ghana	ghana	PROPN
emaj-348	56	17	and	and	CCONJ
emaj-348	56	18	found	find	VERB
emaj-348	56	19	that	that	SCONJ
emaj-348	56	20	higher	high	ADJ
emaj-348	56	21	levels	level	NOUN
emaj-348	56	22	of	of	ADP
emaj-348	56	23	debt	debt	NOUN
emaj-348	56	24	negatively	negatively	ADV
emaj-348	56	25	impacted	impact	VERB
emaj-348	56	26	roa	roa	PROPN
emaj-348	56	27	,	,	PUNCT
emaj-348	56	28	supporting	support	VERB
emaj-348	56	29	the	the	DET
emaj-348	56	30	trade	trade	NOUN
emaj-348	56	31	-	-	PUNCT
emaj-348	56	32	off	off	ADP
emaj-348	56	33	theory	theory	NOUN
emaj-348	56	34	.	.	PUNCT
emaj-348	57	1	similarly	similarly	ADV
emaj-348	57	2	,	,	PUNCT
emaj-348	57	3	(	(	PUNCT
emaj-348	57	4	ayalew	ayalew	NOUN
emaj-348	57	5	,	,	PUNCT
emaj-348	57	6	2021	2021	NUM
emaj-348	57	7	)	)	PUNCT
emaj-348	57	8	reported	report	VERB
emaj-348	57	9	positive	positive	ADJ
emaj-348	57	10	findings	finding	NOUN
emaj-348	57	11	in	in	ADP
emaj-348	57	12	the	the	DET
emaj-348	57	13	banking	banking	NOUN
emaj-348	57	14	sector	sector	NOUN
emaj-348	57	15	in	in	ADP
emaj-348	57	16	ethiopia	ethiopia	PROPN
emaj-348	57	17	,	,	PUNCT
emaj-348	57	18	where	where	SCONJ
emaj-348	57	19	the	the	DET
emaj-348	57	20	debt	debt	NOUN
emaj-348	57	21	ratio	ratio	NOUN
emaj-348	57	22	positively	positively	ADV
emaj-348	57	23	affected	affect	VERB
emaj-348	57	24	profitability	profitability	NOUN
emaj-348	57	25	,	,	PUNCT
emaj-348	57	26	indicating	indicate	VERB
emaj-348	57	27	that	that	SCONJ
emaj-348	57	28	optimal	optimal	ADJ
emaj-348	57	29	capital	capital	NOUN
emaj-348	57	30	structure	structure	NOUN
emaj-348	57	31	improves	improve	VERB
emaj-348	57	32	firm	firm	ADJ
emaj-348	57	33	performance	performance	NOUN
emaj-348	57	34	.	.	PUNCT
emaj-348	58	1	on	on	ADP
emaj-348	58	2	the	the	DET
emaj-348	58	3	contrary	contrary	NOUN
emaj-348	58	4	,	,	PUNCT
emaj-348	58	5	le	le	X
emaj-348	58	6	and	and	CCONJ
emaj-348	58	7	phan	phan	PROPN
emaj-348	58	8	(	(	PUNCT
emaj-348	58	9	2017b	2017b	NUM
emaj-348	58	10	)	)	PUNCT
emaj-348	58	11	observed	observe	VERB
emaj-348	58	12	a	a	DET
emaj-348	58	13	negative	negative	ADJ
emaj-348	58	14	relationship	relationship	NOUN
emaj-348	58	15	in	in	ADP
emaj-348	58	16	vietnam	vietnam	PROPN
emaj-348	58	17	's	's	PART
emaj-348	58	18	non	non	ADJ
emaj-348	58	19	-	-	ADJ
emaj-348	58	20	financial	financial	ADJ
emaj-348	58	21	firms	firm	NOUN
emaj-348	58	22	,	,	PUNCT
emaj-348	58	23	where	where	SCONJ
emaj-348	58	24	higher	high	ADJ
emaj-348	58	25	debt	debt	NOUN
emaj-348	58	26	led	lead	VERB
emaj-348	58	27	to	to	ADP
emaj-348	58	28	lower	low	ADJ
emaj-348	58	29	performance	performance	NOUN
emaj-348	58	30	due	due	ADP
emaj-348	58	31	to	to	ADP
emaj-348	58	32	underdeveloped	underdeveloped	ADJ
emaj-348	58	33	financial	financial	ADJ
emaj-348	58	34	markets	market	NOUN
emaj-348	58	35	and	and	CCONJ
emaj-348	58	36	weak	weak	ADJ
emaj-348	58	37	governance	governance	NOUN
emaj-348	58	38	structures	structure	NOUN
emaj-348	58	39	.	.	PUNCT
emaj-348	59	1	further	further	ADJ
emaj-348	59	2	evidence	evidence	NOUN
emaj-348	59	3	comes	come	VERB
emaj-348	59	4	from	from	ADP
emaj-348	59	5	rani	rani	PROPN
emaj-348	59	6	,	,	PUNCT
emaj-348	59	7	yadav	yadav	NOUN
emaj-348	59	8	and	and	CCONJ
emaj-348	59	9	tripathy	tripathy	PROPN
emaj-348	59	10	(	(	PUNCT
emaj-348	59	11	2020	2020	NUM
emaj-348	59	12	)	)	PUNCT
emaj-348	59	13	,	,	PUNCT
emaj-348	59	14	who	who	PRON
emaj-348	59	15	explored	explore	VERB
emaj-348	59	16	the	the	DET
emaj-348	59	17	speed	speed	NOUN
emaj-348	59	18	of	of	ADP
emaj-348	59	19	capital	capital	NOUN
emaj-348	59	20	structure	structure	NOUN
emaj-348	59	21	adjustment	adjustment	NOUN
emaj-348	59	22	in	in	ADP
emaj-348	59	23	india	india	PROPN
emaj-348	59	24	.	.	PUNCT
emaj-348	60	1	they	they	PRON
emaj-348	60	2	found	find	VERB
emaj-348	60	3	that	that	SCONJ
emaj-348	60	4	indian	indian	ADJ
emaj-348	60	5	firms	firm	NOUN
emaj-348	60	6	slowly	slowly	ADV
emaj-348	60	7	adjust	adjust	VERB
emaj-348	60	8	their	their	PRON
emaj-348	60	9	capital	capital	NOUN
emaj-348	60	10	structures	structure	NOUN
emaj-348	60	11	toward	toward	ADP
emaj-348	60	12	optimal	optimal	ADJ
emaj-348	60	13	levels	level	NOUN
emaj-348	60	14	,	,	PUNCT
emaj-348	60	15	which	which	PRON
emaj-348	60	16	affects	affect	VERB
emaj-348	60	17	their	their	PRON
emaj-348	60	18	financial	financial	ADJ
emaj-348	60	19	outcomes	outcome	NOUN
emaj-348	60	20	.	.	PUNCT
emaj-348	61	1	likewise	likewise	ADV
emaj-348	61	2	,	,	PUNCT
emaj-348	61	3	zhang	zhang	PROPN
emaj-348	61	4	et	et	PROPN
emaj-348	61	5	al	al	PROPN
emaj-348	61	6	.	.	PROPN
emaj-348	61	7	(	(	PUNCT
emaj-348	61	8	2022	2022	NUM
emaj-348	61	9	)	)	PUNCT
emaj-348	61	10	in	in	ADP
emaj-348	61	11	china	china	PROPN
emaj-348	61	12	’s	’s	PART
emaj-348	61	13	e	e	PROPN
emaj-348	61	14	-	-	NOUN
emaj-348	61	15	commerce	commerce	NOUN
emaj-348	61	16	sector	sector	NOUN
emaj-348	61	17	reported	report	VERB
emaj-348	61	18	that	that	SCONJ
emaj-348	61	19	short	short	ADJ
emaj-348	61	20	-	-	PUNCT
emaj-348	61	21	term	term	NOUN
emaj-348	61	22	debt	debt	NOUN
emaj-348	61	23	positively	positively	ADV
emaj-348	61	24	affects	affect	VERB
emaj-348	61	25	performance	performance	NOUN
emaj-348	61	26	,	,	PUNCT
emaj-348	61	27	while	while	SCONJ
emaj-348	61	28	long	long	ADJ
emaj-348	61	29	-	-	PUNCT
emaj-348	61	30	term	term	NOUN
emaj-348	61	31	debt	debt	NOUN
emaj-348	61	32	has	have	VERB
emaj-348	61	33	a	a	DET
emaj-348	61	34	minimal	minimal	ADJ
emaj-348	61	35	or	or	CCONJ
emaj-348	61	36	negative	negative	ADJ
emaj-348	61	37	impact	impact	NOUN
emaj-348	61	38	.	.	PUNCT
emaj-348	62	1	these	these	DET
emaj-348	62	2	variations	variation	NOUN
emaj-348	62	3	suggest	suggest	VERB
emaj-348	62	4	that	that	SCONJ
emaj-348	62	5	the	the	DET
emaj-348	62	6	capital	capital	NOUN
emaj-348	62	7	structure	structure	NOUN
emaj-348	62	8	-	-	PUNCT
emaj-348	62	9	performance	performance	NOUN
emaj-348	62	10	relationship	relationship	NOUN
emaj-348	62	11	is	be	AUX
emaj-348	62	12	influenced	influence	VERB
emaj-348	62	13	by	by	ADP
emaj-348	62	14	industry	industry	NOUN
emaj-348	62	15	characteristics	characteristic	NOUN
emaj-348	62	16	,	,	PUNCT
emaj-348	62	17	governance	governance	NOUN
emaj-348	62	18	,	,	PUNCT
emaj-348	62	19	and	and	CCONJ
emaj-348	62	20	financial	financial	ADJ
emaj-348	62	21	market	market	NOUN
emaj-348	62	22	maturity	maturity	NOUN
emaj-348	62	23	.	.	PUNCT
emaj-348	63	1	however	however	ADV
emaj-348	63	2	,	,	PUNCT
emaj-348	63	3	in	in	ADP
emaj-348	63	4	nigeria	nigeria	PROPN
emaj-348	63	5	’s	’s	PART
emaj-348	63	6	non	non	ADJ
emaj-348	63	7	-	-	ADJ
emaj-348	63	8	financial	financial	ADJ
emaj-348	63	9	sectors	sector	NOUN
emaj-348	63	10	,	,	PUNCT
emaj-348	63	11	the	the	DET
emaj-348	63	12	relationship	relationship	NOUN
emaj-348	63	13	between	between	ADP
emaj-348	63	14	capital	capital	NOUN
emaj-348	63	15	structure	structure	NOUN
emaj-348	63	16	and	and	CCONJ
emaj-348	63	17	firm	firm	ADJ
emaj-348	63	18	performance	performance	NOUN
emaj-348	63	19	is	be	AUX
emaj-348	63	20	compelling	compelling	ADJ
emaj-348	63	21	due	due	ADP
emaj-348	63	22	to	to	ADP
emaj-348	63	23	several	several	ADJ
emaj-348	63	24	factors	factor	NOUN
emaj-348	63	25	.	.	PUNCT
emaj-348	64	1	firms	firm	NOUN
emaj-348	64	2	in	in	ADP
emaj-348	64	3	these	these	DET
emaj-348	64	4	sectors	sector	NOUN
emaj-348	64	5	face	face	VERB
emaj-348	64	6	high	high	ADJ
emaj-348	64	7	operational	operational	ADJ
emaj-348	64	8	costs	cost	NOUN
emaj-348	64	9	,	,	PUNCT
emaj-348	64	10	largely	largely	ADV
emaj-348	64	11	driven	drive	VERB
emaj-348	64	12	by	by	ADP
emaj-348	64	13	infrastructure	infrastructure	NOUN
emaj-348	64	14	deficits	deficit	NOUN
emaj-348	64	15	and	and	CCONJ
emaj-348	64	16	economic	economic	ADJ
emaj-348	64	17	volatility	volatility	NOUN
emaj-348	64	18	,	,	PUNCT
emaj-348	64	19	requiring	require	VERB
emaj-348	64	20	effective	effective	ADJ
emaj-348	64	21	capital	capital	NOUN
emaj-348	64	22	structure	structure	NOUN
emaj-348	64	23	management	management	NOUN
emaj-348	64	24	to	to	PART
emaj-348	64	25	maintain	maintain	VERB
emaj-348	64	26	competitiveness	competitiveness	NOUN
emaj-348	64	27	and	and	CCONJ
emaj-348	64	28	profitability	profitability	NOUN
emaj-348	64	29	.	.	PUNCT
emaj-348	65	1	furthermore	furthermore	ADV
emaj-348	65	2	,	,	PUNCT
emaj-348	65	3	those	those	PRON
emaj-348	65	4	with	with	ADP
emaj-348	65	5	optimal	optimal	ADJ
emaj-348	65	6	capital	capital	NOUN
emaj-348	65	7	structures	structure	NOUN
emaj-348	65	8	benefit	benefit	VERB
emaj-348	65	9	from	from	ADP
emaj-348	65	10	lower	low	ADJ
emaj-348	65	11	financial	financial	ADJ
emaj-348	65	12	distress	distress	NOUN
emaj-348	65	13	and	and	CCONJ
emaj-348	65	14	better	well	ADJ
emaj-348	65	15	access	access	NOUN
emaj-348	65	16	to	to	ADP
emaj-348	65	17	finance	finance	NOUN
emaj-348	65	18	under	under	ADP
emaj-348	65	19	more	more	ADV
emaj-348	65	20	favorable	favorable	ADJ
emaj-348	65	21	terms	term	NOUN
emaj-348	65	22	,	,	PUNCT
emaj-348	65	23	improving	improve	VERB
emaj-348	65	24	overall	overall	ADJ
emaj-348	65	25	performance	performance	NOUN
emaj-348	65	26	.	.	PUNCT
emaj-348	66	1	hence	hence	ADV
emaj-348	66	2	,	,	PUNCT
emaj-348	66	3	managing	manage	VERB
emaj-348	66	4	debt	debt	NOUN
emaj-348	66	5	and	and	CCONJ
emaj-348	66	6	equity	equity	NOUN
emaj-348	66	7	efficiently	efficiently	ADV
emaj-348	66	8	is	be	AUX
emaj-348	66	9	crucial	crucial	ADJ
emaj-348	66	10	to	to	ADP
emaj-348	66	11	enhancing	enhance	VERB
emaj-348	66	12	the	the	DET
emaj-348	66	13	performance	performance	NOUN
emaj-348	66	14	of	of	ADP
emaj-348	66	15	these	these	DET
emaj-348	66	16	firms	firm	NOUN
emaj-348	66	17	.	.	PUNCT
emaj-348	67	1	on	on	ADP
emaj-348	67	2	the	the	DET
emaj-348	67	3	bases	basis	NOUN
emaj-348	67	4	of	of	ADP
emaj-348	67	5	the	the	DET
emaj-348	67	6	foregoing	foregoing	NOUN
emaj-348	67	7	,	,	PUNCT
emaj-348	67	8	we	we	PRON
emaj-348	67	9	formulate	formulate	VERB
emaj-348	67	10	our	our	PRON
emaj-348	67	11	first	first	ADJ
emaj-348	67	12	hypotheses	hypothesis	NOUN
emaj-348	67	13	as	as	SCONJ
emaj-348	67	14	:	:	PUNCT
emaj-348	67	15	h1	h1	PROPN
emaj-348	67	16	:	:	PUNCT
emaj-348	67	17	capital	capital	NOUN
emaj-348	67	18	structure	structure	NOUN
emaj-348	67	19	significantly	significantly	ADV
emaj-348	67	20	drives	drive	VERB
emaj-348	67	21	the	the	DET
emaj-348	67	22	performance	performance	NOUN
emaj-348	67	23	of	of	ADP
emaj-348	67	24	listed	list	VERB
emaj-348	67	25	non	non	ADJ
emaj-348	67	26	-	-	ADJ
emaj-348	67	27	financial	financial	ADJ
emaj-348	67	28	firms	firm	NOUN
emaj-348	67	29	in	in	ADP
emaj-348	67	30	nigeria	nigeria	PROPN
emaj-348	67	31	.	.	PUNCT
emaj-348	68	1	female	female	ADJ
emaj-348	68	2	board	board	NOUN
emaj-348	68	3	directors	director	NOUN
emaj-348	68	4	’	’	PART
emaj-348	68	5	presence	presence	NOUN
emaj-348	68	6	and	and	CCONJ
emaj-348	68	7	firm	firm	ADJ
emaj-348	68	8	performance	performance	NOUN
emaj-348	68	9	female	female	ADJ
emaj-348	68	10	board	board	NOUN
emaj-348	68	11	directors	director	NOUN
emaj-348	68	12	’	'	PUNCT
emaj-348	68	13	presence	presence	NOUN
emaj-348	68	14	refers	refer	VERB
emaj-348	68	15	to	to	ADP
emaj-348	68	16	the	the	DET
emaj-348	68	17	representation	representation	NOUN
emaj-348	68	18	of	of	ADP
emaj-348	68	19	women	woman	NOUN
emaj-348	68	20	on	on	ADP
emaj-348	68	21	corporate	corporate	ADJ
emaj-348	68	22	boards	board	NOUN
emaj-348	68	23	,	,	PUNCT
emaj-348	68	24	typically	typically	ADV
emaj-348	68	25	measured	measure	VERB
emaj-348	68	26	as	as	ADP
emaj-348	68	27	the	the	DET
emaj-348	68	28	percentage	percentage	NOUN
emaj-348	68	29	of	of	ADP
emaj-348	68	30	women	woman	NOUN
emaj-348	68	31	or	or	CCONJ
emaj-348	68	32	a	a	DET
emaj-348	68	33	binary	binary	ADJ
emaj-348	68	34	variable	variable	NOUN
emaj-348	68	35	indicating	indicate	VERB
emaj-348	68	36	the	the	DET
emaj-348	68	37	presence	presence	NOUN
emaj-348	68	38	of	of	ADP
emaj-348	68	39	at	at	ADV
emaj-348	68	40	least	least	ADV
emaj-348	68	41	one	one	NUM
emaj-348	68	42	female	female	ADJ
emaj-348	68	43	director	director	NOUN
emaj-348	68	44	.	.	PUNCT
emaj-348	69	1	in	in	ADP
emaj-348	69	2	recent	recent	ADJ
emaj-348	69	3	years	year	NOUN
emaj-348	69	4	,	,	PUNCT
emaj-348	69	5	the	the	DET
emaj-348	69	6	importance	importance	NOUN
emaj-348	69	7	of	of	ADP
emaj-348	69	8	gender	gender	NOUN
emaj-348	69	9	diversity	diversity	NOUN
emaj-348	69	10	on	on	ADP
emaj-348	69	11	boards	board	NOUN
emaj-348	69	12	has	have	AUX
emaj-348	69	13	been	be	AUX
emaj-348	69	14	emphasized	emphasize	VERB
emaj-348	69	15	due	due	ADP
emaj-348	69	16	to	to	ADP
emaj-348	69	17	its	its	PRON
emaj-348	69	18	potential	potential	NOUN
emaj-348	69	19	to	to	PART
emaj-348	69	20	improve	improve	VERB
emaj-348	69	21	decision	decision	NOUN
emaj-348	69	22	-	-	PUNCT
emaj-348	69	23	making	making	NOUN
emaj-348	69	24	,	,	PUNCT
emaj-348	69	25	risk	risk	NOUN
emaj-348	69	26	management	management	NOUN
emaj-348	69	27	,	,	PUNCT
emaj-348	69	28	and	and	CCONJ
emaj-348	69	29	financial	financial	ADJ
emaj-348	69	30	performance	performance	NOUN
emaj-348	69	31	(	(	PUNCT
emaj-348	69	32	saeed	saeed	PROPN
emaj-348	69	33	et	et	PROPN
emaj-348	69	34	al	al	PROPN
emaj-348	69	35	.	.	PROPN
emaj-348	69	36	,	,	PUNCT
emaj-348	69	37	2022	2022	NUM
emaj-348	69	38	)	)	PUNCT
emaj-348	69	39	.	.	PUNCT
emaj-348	70	1	the	the	DET
emaj-348	70	2	inclusion	inclusion	NOUN
emaj-348	70	3	of	of	ADP
emaj-348	70	4	women	woman	NOUN
emaj-348	70	5	in	in	ADP
emaj-348	70	6	governance	governance	NOUN
emaj-348	70	7	roles	role	NOUN
emaj-348	70	8	is	be	AUX
emaj-348	70	9	argued	argue	VERB
emaj-348	70	10	to	to	PART
emaj-348	70	11	lead	lead	VERB
emaj-348	70	12	to	to	ADP
emaj-348	70	13	better	well	ADJ
emaj-348	70	14	corporate	corporate	ADJ
emaj-348	70	15	governance	governance	NOUN
emaj-348	70	16	and	and	CCONJ
emaj-348	70	17	improved	improve	VERB
emaj-348	70	18	firm	firm	ADJ
emaj-348	70	19	outcomes	outcome	NOUN
emaj-348	70	20	(	(	PUNCT
emaj-348	70	21	ngatno	ngatno	PROPN
emaj-348	70	22	,	,	PUNCT
emaj-348	70	23	apriatni	apriatni	NOUN
emaj-348	70	24	and	and	CCONJ
emaj-348	70	25	youlianto	youlianto	NOUN
emaj-348	70	26	,	,	PUNCT
emaj-348	70	27	2021	2021	NUM
emaj-348	70	28	)	)	PUNCT
emaj-348	70	29	.	.	PUNCT
emaj-348	71	1	the	the	DET
emaj-348	71	2	feminist	feminist	PROPN
emaj-348	71	3	theory	theory	NOUN
emaj-348	71	4	underpins	underpin	VERB
emaj-348	71	5	the	the	DET
emaj-348	71	6	argument	argument	NOUN
emaj-348	71	7	that	that	SCONJ
emaj-348	71	8	gender	gender	NOUN
emaj-348	71	9	diversity	diversity	NOUN
emaj-348	71	10	can	can	AUX
emaj-348	71	11	positively	positively	ADV
emaj-348	71	12	influence	influence	VERB
emaj-348	71	13	corporate	corporate	ADJ
emaj-348	71	14	governance	governance	NOUN
emaj-348	71	15	and	and	CCONJ
emaj-348	71	16	firm	firm	ADJ
emaj-348	71	17	performance	performance	NOUN
emaj-348	71	18	.	.	PUNCT
emaj-348	72	1	this	this	DET
emaj-348	72	2	theory	theory	NOUN
emaj-348	72	3	posits	posit	VERB
emaj-348	72	4	that	that	PRON
emaj-348	72	5	women	woman	NOUN
emaj-348	72	6	bring	bring	VERB
emaj-348	72	7	unique	unique	ADJ
emaj-348	72	8	perspectives	perspective	NOUN
emaj-348	72	9	and	and	CCONJ
emaj-348	72	10	leadership	leadership	NOUN
emaj-348	72	11	styles	style	NOUN
emaj-348	72	12	that	that	PRON
emaj-348	72	13	foster	foster	VERB
emaj-348	72	14	inclusiveness	inclusiveness	NOUN
emaj-348	72	15	,	,	PUNCT
emaj-348	72	16	accountability	accountability	NOUN
emaj-348	72	17	,	,	PUNCT
emaj-348	72	18	and	and	CCONJ
emaj-348	72	19	a	a	DET
emaj-348	72	20	broader	broad	ADJ
emaj-348	72	21	consideration	consideration	NOUN
emaj-348	72	22	of	of	ADP
emaj-348	72	23	stakeholders	stakeholder	NOUN
emaj-348	72	24	(	(	PUNCT
emaj-348	72	25	grosvold	grosvold	ADJ
emaj-348	72	26	,	,	PUNCT
emaj-348	72	27	rayton	rayton	NOUN
emaj-348	72	28	and	and	CCONJ
emaj-348	72	29	brammer	brammer	NOUN
emaj-348	72	30	,	,	PUNCT
emaj-348	72	31	2016	2016	NUM
emaj-348	72	32	)	)	PUNCT
emaj-348	72	33	.	.	PUNCT
emaj-348	73	1	feminist	feminist	PROPN
emaj-348	73	2	theory	theory	NOUN
emaj-348	73	3	suggests	suggest	VERB
emaj-348	73	4	that	that	SCONJ
emaj-348	73	5	firms	firm	NOUN
emaj-348	73	6	with	with	ADP
emaj-348	73	7	female	female	ADJ
emaj-348	73	8	directors	director	NOUN
emaj-348	73	9	may	may	AUX
emaj-348	73	10	be	be	AUX
emaj-348	73	11	better	well	ADV
emaj-348	73	12	positioned	position	VERB
emaj-348	73	13	to	to	PART
emaj-348	73	14	make	make	VERB
emaj-348	73	15	ethical	ethical	ADJ
emaj-348	73	16	decisions	decision	NOUN
emaj-348	73	17	,	,	PUNCT
emaj-348	73	18	reduce	reduce	VERB
emaj-348	73	19	risks	risk	NOUN
emaj-348	73	20	,	,	PUNCT
emaj-348	73	21	and	and	CCONJ
emaj-348	73	22	improve	improve	VERB
emaj-348	73	23	financial	financial	ADJ
emaj-348	73	24	outcomes	outcome	NOUN
emaj-348	73	25	(	(	PUNCT
emaj-348	73	26	abdullah	abdullah	NOUN
emaj-348	73	27	and	and	CCONJ
emaj-348	73	28	tursoy	tursoy	ADJ
emaj-348	73	29	,	,	PUNCT
emaj-348	73	30	2021	2021	NUM
emaj-348	73	31	)	)	PUNCT
emaj-348	73	32	.	.	PUNCT
emaj-348	74	1	the	the	DET
emaj-348	74	2	presence	presence	NOUN
emaj-348	74	3	of	of	ADP
emaj-348	74	4	women	woman	NOUN
emaj-348	74	5	on	on	ADP
emaj-348	74	6	boards	board	NOUN
emaj-348	74	7	also	also	ADV
emaj-348	74	8	challenges	challenge	VERB
emaj-348	74	9	traditional	traditional	ADJ
emaj-348	74	10	male	male	NOUN
emaj-348	74	11	-	-	PUNCT
emaj-348	74	12	dominated	dominate	VERB
emaj-348	74	13	governance	governance	NOUN
emaj-348	74	14	volume	volume	NOUN
emaj-348	74	15	14	14	NUM
emaj-348	74	16	no	no	DET
emaj-348	74	17	2	2	NUM
emaj-348	74	18	(	(	PUNCT
emaj-348	74	19	2024	2024	NUM
emaj-348	74	20	)	)	PUNCT
emaj-348	74	21	|	|	ADV
emaj-348	74	22	issn	issn	VERB
emaj-348	74	23	2158	2158	NUM
emaj-348	74	24	-	-	SYM
emaj-348	74	25	8708	8708	NUM
emaj-348	74	26	(	(	PUNCT
emaj-348	74	27	online	online	NOUN
emaj-348	74	28	)	)	PUNCT
emaj-348	74	29	|	|	ADV
emaj-348	74	30	doi	doi	X
emaj-348	74	31	10.5195	10.5195	NUM
emaj-348	74	32	/	/	SYM
emaj-348	74	33	emaj.2024.348	emaj.2024.348	PROPN
emaj-348	74	34	|	|	NOUN
emaj-348	74	35	http://emaj.pitt.edu	http://emaj.pitt.edu	VERB
emaj-348	74	36	female	female	ADJ
emaj-348	74	37	directors	director	NOUN
emaj-348	74	38	’	'	PUNCT
emaj-348	74	39	role	role	NOUN
emaj-348	74	40	on	on	ADP
emaj-348	74	41	capital	capital	NOUN
emaj-348	74	42	structure	structure	NOUN
emaj-348	74	43	and	and	CCONJ
emaj-348	74	44	firm	firm	ADJ
emaj-348	74	45	performance	performance	NOUN
emaj-348	74	46	nexus	nexus	NOUN
emaj-348	74	47	:	:	PUNCT
emaj-348	74	48	new	new	ADJ
emaj-348	74	49	evidence	evidence	NOUN
emaj-348	74	50	from	from	ADP
emaj-348	74	51	an	an	DET
emaj-348	74	52	emerging	emerge	VERB
emaj-348	74	53	market	market	NOUN
emaj-348	74	54	nigeria	nigeria	PROPN
emaj-348	74	55	page	page	NOUN
emaj-348	74	56	|36|	|36|	VERB
emaj-348	74	57	emerging	emerge	VERB
emaj-348	74	58	markets	market	NOUN
emaj-348	74	59	journal	journal	NOUN
emaj-348	74	60	structures	structure	NOUN
emaj-348	74	61	,	,	PUNCT
emaj-348	74	62	promoting	promote	VERB
emaj-348	74	63	fairness	fairness	NOUN
emaj-348	74	64	and	and	CCONJ
emaj-348	74	65	equity	equity	NOUN
emaj-348	74	66	in	in	ADP
emaj-348	74	67	decisionmaking	decisionmake	VERB
emaj-348	74	68	.	.	PUNCT
emaj-348	75	1	in	in	ADP
emaj-348	75	2	the	the	DET
emaj-348	75	3	nigerian	nigerian	ADJ
emaj-348	75	4	context	context	NOUN
emaj-348	75	5	,	,	PUNCT
emaj-348	75	6	the	the	DET
emaj-348	75	7	presence	presence	NOUN
emaj-348	75	8	of	of	ADP
emaj-348	75	9	female	female	ADJ
emaj-348	75	10	board	board	NOUN
emaj-348	75	11	directors	director	NOUN
emaj-348	75	12	may	may	AUX
emaj-348	75	13	lead	lead	VERB
emaj-348	75	14	to	to	ADP
emaj-348	75	15	improved	improved	ADJ
emaj-348	75	16	governance	governance	NOUN
emaj-348	75	17	and	and	CCONJ
emaj-348	75	18	performance	performance	NOUN
emaj-348	75	19	especially	especially	ADV
emaj-348	75	20	for	for	ADP
emaj-348	75	21	non	non	ADJ
emaj-348	75	22	-	-	ADJ
emaj-348	75	23	financial	financial	ADJ
emaj-348	75	24	firms	firm	NOUN
emaj-348	75	25	.	.	PUNCT
emaj-348	76	1	as	as	SCONJ
emaj-348	76	2	these	these	DET
emaj-348	76	3	firms	firm	NOUN
emaj-348	76	4	operate	operate	VERB
emaj-348	76	5	in	in	ADP
emaj-348	76	6	capital	capital	NOUN
emaj-348	76	7	-	-	PUNCT
emaj-348	76	8	intensive	intensive	ADJ
emaj-348	76	9	industries	industry	NOUN
emaj-348	76	10	,	,	PUNCT
emaj-348	76	11	the	the	DET
emaj-348	76	12	inclusion	inclusion	NOUN
emaj-348	76	13	of	of	ADP
emaj-348	76	14	women	woman	NOUN
emaj-348	76	15	on	on	ADP
emaj-348	76	16	boards	board	NOUN
emaj-348	76	17	may	may	AUX
emaj-348	76	18	provide	provide	VERB
emaj-348	76	19	a	a	DET
emaj-348	76	20	more	more	ADV
emaj-348	76	21	balanced	balanced	ADJ
emaj-348	76	22	approach	approach	NOUN
emaj-348	76	23	to	to	ADP
emaj-348	76	24	risk	risk	NOUN
emaj-348	76	25	-	-	PUNCT
emaj-348	76	26	taking	taking	NOUN
emaj-348	76	27	and	and	CCONJ
emaj-348	76	28	strategy	strategy	NOUN
emaj-348	76	29	development	development	NOUN
emaj-348	76	30	,	,	PUNCT
emaj-348	76	31	enhancing	enhance	VERB
emaj-348	76	32	overall	overall	ADJ
emaj-348	76	33	performance	performance	NOUN
emaj-348	76	34	(	(	PUNCT
emaj-348	76	35	saeed	saeed	PROPN
emaj-348	76	36	et	et	PROPN
emaj-348	76	37	al	al	PROPN
emaj-348	76	38	.	.	PROPN
emaj-348	76	39	,	,	PUNCT
emaj-348	76	40	2022	2022	NUM
emaj-348	76	41	)	)	PUNCT
emaj-348	76	42	.	.	PUNCT
emaj-348	77	1	studies	study	NOUN
emaj-348	77	2	investigating	investigate	VERB
emaj-348	77	3	the	the	DET
emaj-348	77	4	relationship	relationship	NOUN
emaj-348	77	5	between	between	ADP
emaj-348	77	6	female	female	ADJ
emaj-348	77	7	board	board	NOUN
emaj-348	77	8	directors	director	NOUN
emaj-348	77	9	and	and	CCONJ
emaj-348	77	10	firm	firm	ADJ
emaj-348	77	11	performance	performance	NOUN
emaj-348	77	12	have	have	AUX
emaj-348	77	13	produced	produce	VERB
emaj-348	77	14	diverse	diverse	ADJ
emaj-348	77	15	findings	finding	NOUN
emaj-348	77	16	.	.	PUNCT
emaj-348	78	1	for	for	ADP
emaj-348	78	2	example	example	NOUN
emaj-348	78	3	,	,	PUNCT
emaj-348	78	4	saeed	saeed	PROPN
emaj-348	78	5	et	et	PROPN
emaj-348	78	6	al	al	PROPN
emaj-348	78	7	.	.	PROPN
emaj-348	78	8	(	(	PUNCT
emaj-348	78	9	2022	2022	NUM
emaj-348	78	10	)	)	PUNCT
emaj-348	78	11	found	find	VERB
emaj-348	78	12	a	a	DET
emaj-348	78	13	positive	positive	ADJ
emaj-348	78	14	impact	impact	NOUN
emaj-348	78	15	of	of	ADP
emaj-348	78	16	female	female	ADJ
emaj-348	78	17	directors	director	NOUN
emaj-348	78	18	on	on	ADP
emaj-348	78	19	profitability	profitability	NOUN
emaj-348	78	20	in	in	ADP
emaj-348	78	21	manufacturing	manufacturing	NOUN
emaj-348	78	22	firms	firm	NOUN
emaj-348	78	23	in	in	ADP
emaj-348	78	24	pakistan	pakistan	PROPN
emaj-348	78	25	,	,	PUNCT
emaj-348	78	26	indicating	indicate	VERB
emaj-348	78	27	that	that	SCONJ
emaj-348	78	28	gender	gender	NOUN
emaj-348	78	29	diversity	diversity	NOUN
emaj-348	78	30	enhances	enhance	VERB
emaj-348	78	31	decision	decision	NOUN
emaj-348	78	32	-	-	PUNCT
emaj-348	78	33	making	making	NOUN
emaj-348	78	34	and	and	CCONJ
emaj-348	78	35	governance	governance	NOUN
emaj-348	78	36	.	.	PUNCT
emaj-348	79	1	similarly	similarly	ADV
emaj-348	79	2	,	,	PUNCT
emaj-348	79	3	abdullah	abdullah	PROPN
emaj-348	79	4	(	(	PUNCT
emaj-348	79	5	2014	2014	NUM
emaj-348	79	6	)	)	PUNCT
emaj-348	79	7	reported	report	VERB
emaj-348	79	8	that	that	SCONJ
emaj-348	79	9	female	female	ADJ
emaj-348	79	10	representation	representation	NOUN
emaj-348	79	11	improved	improve	VERB
emaj-348	79	12	governance	governance	NOUN
emaj-348	79	13	and	and	CCONJ
emaj-348	79	14	financial	financial	ADJ
emaj-348	79	15	performance	performance	NOUN
emaj-348	79	16	among	among	ADP
emaj-348	79	17	malaysian	malaysian	ADJ
emaj-348	79	18	firms	firm	NOUN
emaj-348	79	19	.	.	PUNCT
emaj-348	80	1	in	in	ADP
emaj-348	80	2	contrast	contrast	NOUN
emaj-348	80	3	,	,	PUNCT
emaj-348	80	4	almaqtari	almaqtari	PROPN
emaj-348	80	5	et	et	PROPN
emaj-348	80	6	al	al	PROPN
emaj-348	80	7	.	.	PROPN
emaj-348	80	8	(	(	PUNCT
emaj-348	80	9	2021	2021	NUM
emaj-348	80	10	)	)	PUNCT
emaj-348	80	11	found	find	VERB
emaj-348	80	12	no	no	DET
emaj-348	80	13	significant	significant	ADJ
emaj-348	80	14	effect	effect	NOUN
emaj-348	80	15	of	of	ADP
emaj-348	80	16	female	female	ADJ
emaj-348	80	17	directors	director	NOUN
emaj-348	80	18	on	on	ADP
emaj-348	80	19	firm	firm	ADJ
emaj-348	80	20	performance	performance	NOUN
emaj-348	80	21	suggesting	suggest	VERB
emaj-348	80	22	that	that	SCONJ
emaj-348	80	23	the	the	DET
emaj-348	80	24	relationship	relationship	NOUN
emaj-348	80	25	may	may	AUX
emaj-348	80	26	vary	vary	VERB
emaj-348	80	27	based	base	VERB
emaj-348	80	28	on	on	ADP
emaj-348	80	29	governance	governance	NOUN
emaj-348	80	30	structures	structure	NOUN
emaj-348	80	31	and	and	CCONJ
emaj-348	80	32	cultural	cultural	ADJ
emaj-348	80	33	factors	factor	NOUN
emaj-348	80	34	.	.	PUNCT
emaj-348	81	1	further	further	ADJ
emaj-348	81	2	evidence	evidence	NOUN
emaj-348	81	3	from	from	ADP
emaj-348	81	4	ngatno	ngatno	PROPN
emaj-348	81	5	,	,	PUNCT
emaj-348	81	6	apriatni	apriatni	NOUN
emaj-348	81	7	and	and	CCONJ
emaj-348	81	8	youlianto	youlianto	NOUN
emaj-348	81	9	(	(	PUNCT
emaj-348	81	10	2021	2021	NUM
emaj-348	81	11	)	)	PUNCT
emaj-348	81	12	shows	show	VERB
emaj-348	81	13	that	that	SCONJ
emaj-348	81	14	in	in	ADP
emaj-348	81	15	indonesia	indonesia	PROPN
emaj-348	81	16	,	,	PUNCT
emaj-348	81	17	female	female	ADJ
emaj-348	81	18	directors	director	NOUN
emaj-348	81	19	positively	positively	ADV
emaj-348	81	20	moderated	moderate	VERB
emaj-348	81	21	the	the	DET
emaj-348	81	22	relationship	relationship	NOUN
emaj-348	81	23	between	between	ADP
emaj-348	81	24	governance	governance	NOUN
emaj-348	81	25	practices	practice	NOUN
emaj-348	81	26	and	and	CCONJ
emaj-348	81	27	firm	firm	ADJ
emaj-348	81	28	performance	performance	NOUN
emaj-348	81	29	in	in	ADP
emaj-348	81	30	rural	rural	ADJ
emaj-348	81	31	banks	bank	NOUN
emaj-348	81	32	.	.	PUNCT
emaj-348	82	1	likewise	likewise	ADV
emaj-348	82	2	,	,	PUNCT
emaj-348	82	3	in	in	ADP
emaj-348	82	4	ethiopia	ethiopia	PROPN
emaj-348	82	5	,	,	PUNCT
emaj-348	82	6	ayalew	ayalew	NOUN
emaj-348	82	7	(	(	PUNCT
emaj-348	82	8	2021	2021	NUM
emaj-348	82	9	)	)	PUNCT
emaj-348	82	10	found	find	VERB
emaj-348	82	11	that	that	SCONJ
emaj-348	82	12	gender	gender	NOUN
emaj-348	82	13	diversity	diversity	NOUN
emaj-348	82	14	on	on	ADP
emaj-348	82	15	boards	board	NOUN
emaj-348	82	16	improved	improve	VERB
emaj-348	82	17	governance	governance	NOUN
emaj-348	82	18	but	but	CCONJ
emaj-348	82	19	had	have	VERB
emaj-348	82	20	a	a	DET
emaj-348	82	21	limited	limited	ADJ
emaj-348	82	22	effect	effect	NOUN
emaj-348	82	23	on	on	ADP
emaj-348	82	24	financial	financial	ADJ
emaj-348	82	25	outcomes	outcome	NOUN
emaj-348	82	26	.	.	PUNCT
emaj-348	83	1	these	these	DET
emaj-348	83	2	findings	finding	NOUN
emaj-348	83	3	suggest	suggest	VERB
emaj-348	83	4	that	that	SCONJ
emaj-348	83	5	while	while	SCONJ
emaj-348	83	6	gender	gender	NOUN
emaj-348	83	7	diversity	diversity	NOUN
emaj-348	83	8	is	be	AUX
emaj-348	83	9	generally	generally	ADV
emaj-348	83	10	viewed	view	VERB
emaj-348	83	11	as	as	ADP
emaj-348	83	12	beneficial	beneficial	ADJ
emaj-348	83	13	for	for	ADP
emaj-348	83	14	governance	governance	NOUN
emaj-348	83	15	,	,	PUNCT
emaj-348	83	16	its	its	PRON
emaj-348	83	17	impact	impact	NOUN
emaj-348	83	18	on	on	ADP
emaj-348	83	19	firm	firm	ADJ
emaj-348	83	20	performance	performance	NOUN
emaj-348	83	21	is	be	AUX
emaj-348	83	22	context	context	NOUN
emaj-348	83	23	dependent	dependent	ADJ
emaj-348	83	24	.	.	PUNCT
emaj-348	84	1	in	in	ADP
emaj-348	84	2	nigeria	nigeria	PROPN
emaj-348	84	3	’s	’s	PART
emaj-348	84	4	non	non	ADJ
emaj-348	84	5	-	-	ADJ
emaj-348	84	6	financial	financial	ADJ
emaj-348	84	7	sector	sector	NOUN
emaj-348	84	8	,	,	PUNCT
emaj-348	84	9	the	the	DET
emaj-348	84	10	presence	presence	NOUN
emaj-348	84	11	of	of	ADP
emaj-348	84	12	female	female	ADJ
emaj-348	84	13	board	board	NOUN
emaj-348	84	14	directors	director	NOUN
emaj-348	84	15	holds	hold	VERB
emaj-348	84	16	the	the	DET
emaj-348	84	17	potential	potential	NOUN
emaj-348	84	18	to	to	PART
emaj-348	84	19	significantly	significantly	ADV
emaj-348	84	20	impact	impact	VERB
emaj-348	84	21	firm	firm	ADJ
emaj-348	84	22	performance	performance	NOUN
emaj-348	84	23	due	due	ADP
emaj-348	84	24	to	to	ADP
emaj-348	84	25	several	several	ADJ
emaj-348	84	26	context	context	NOUN
emaj-348	84	27	-	-	PUNCT
emaj-348	84	28	specific	specific	ADJ
emaj-348	84	29	issues	issue	NOUN
emaj-348	84	30	.	.	PUNCT
emaj-348	85	1	nigerian	nigerian	ADJ
emaj-348	85	2	firms	firm	NOUN
emaj-348	85	3	often	often	ADV
emaj-348	85	4	operate	operate	VERB
emaj-348	85	5	in	in	ADP
emaj-348	85	6	a	a	DET
emaj-348	85	7	complex	complex	ADJ
emaj-348	85	8	socio	socio	NOUN
emaj-348	85	9	-	-	PUNCT
emaj-348	85	10	economic	economic	ADJ
emaj-348	85	11	environment	environment	NOUN
emaj-348	85	12	where	where	SCONJ
emaj-348	85	13	gender	gender	NOUN
emaj-348	85	14	inequality	inequality	NOUN
emaj-348	85	15	remains	remain	VERB
emaj-348	85	16	a	a	DET
emaj-348	85	17	persistent	persistent	ADJ
emaj-348	85	18	challenge	challenge	NOUN
emaj-348	85	19	,	,	PUNCT
emaj-348	85	20	with	with	ADP
emaj-348	85	21	women	woman	NOUN
emaj-348	85	22	historically	historically	ADV
emaj-348	85	23	underrepresented	underrepresente	VERB
emaj-348	85	24	in	in	ADP
emaj-348	85	25	leadership	leadership	NOUN
emaj-348	85	26	positions	position	NOUN
emaj-348	85	27	.	.	PUNCT
emaj-348	86	1	female	female	ADJ
emaj-348	86	2	board	board	NOUN
emaj-348	86	3	members	member	NOUN
emaj-348	86	4	may	may	AUX
emaj-348	86	5	offer	offer	VERB
emaj-348	86	6	unique	unique	ADJ
emaj-348	86	7	perspectives	perspective	NOUN
emaj-348	86	8	and	and	CCONJ
emaj-348	86	9	approaches	approach	NOUN
emaj-348	86	10	,	,	PUNCT
emaj-348	86	11	especially	especially	ADV
emaj-348	86	12	in	in	ADP
emaj-348	86	13	navigating	navigate	VERB
emaj-348	86	14	regulatory	regulatory	ADJ
emaj-348	86	15	and	and	CCONJ
emaj-348	86	16	compliance	compliance	NOUN
emaj-348	86	17	issues	issue	NOUN
emaj-348	86	18	that	that	PRON
emaj-348	86	19	are	be	AUX
emaj-348	86	20	prevalent	prevalent	ADJ
emaj-348	86	21	in	in	ADP
emaj-348	86	22	nigeria	nigeria	PROPN
emaj-348	86	23	,	,	PUNCT
emaj-348	86	24	such	such	ADJ
emaj-348	86	25	as	as	ADP
emaj-348	86	26	the	the	DET
emaj-348	86	27	enforcement	enforcement	NOUN
emaj-348	86	28	of	of	ADP
emaj-348	86	29	corporate	corporate	ADJ
emaj-348	86	30	governance	governance	NOUN
emaj-348	86	31	codes	code	NOUN
emaj-348	86	32	.	.	PUNCT
emaj-348	87	1	their	their	PRON
emaj-348	87	2	presence	presence	NOUN
emaj-348	87	3	can	can	AUX
emaj-348	87	4	also	also	ADV
emaj-348	87	5	influence	influence	VERB
emaj-348	87	6	corporate	corporate	ADJ
emaj-348	87	7	culture	culture	NOUN
emaj-348	87	8	by	by	ADP
emaj-348	87	9	fostering	foster	VERB
emaj-348	87	10	inclusivity	inclusivity	NOUN
emaj-348	87	11	and	and	CCONJ
emaj-348	87	12	improving	improve	VERB
emaj-348	87	13	the	the	DET
emaj-348	87	14	firm	firm	NOUN
emaj-348	87	15	’s	’s	PART
emaj-348	87	16	reputation	reputation	NOUN
emaj-348	87	17	in	in	ADP
emaj-348	87	18	the	the	DET
emaj-348	87	19	eyes	eye	NOUN
emaj-348	87	20	of	of	ADP
emaj-348	87	21	global	global	ADJ
emaj-348	87	22	investors	investor	NOUN
emaj-348	87	23	who	who	PRON
emaj-348	87	24	increasingly	increasingly	ADV
emaj-348	87	25	favor	favor	VERB
emaj-348	87	26	gender	gender	NOUN
emaj-348	87	27	-	-	PUNCT
emaj-348	87	28	diverse	diverse	ADJ
emaj-348	87	29	leadership	leadership	NOUN
emaj-348	87	30	teams	team	NOUN
emaj-348	87	31	.	.	PUNCT
emaj-348	88	1	based	base	VERB
emaj-348	88	2	on	on	ADP
emaj-348	88	3	the	the	DET
emaj-348	88	4	foregoing	foregoing	NOUN
emaj-348	88	5	,	,	PUNCT
emaj-348	88	6	we	we	PRON
emaj-348	88	7	state	state	VERB
emaj-348	88	8	our	our	PRON
emaj-348	88	9	second	second	ADJ
emaj-348	88	10	hypothesis	hypothesis	NOUN
emaj-348	88	11	as	as	ADP
emaj-348	88	12	:	:	PUNCT
emaj-348	88	13	h2	h2	NOUN
emaj-348	88	14	:	:	PUNCT
emaj-348	88	15	female	female	ADJ
emaj-348	88	16	board	board	NOUN
emaj-348	88	17	directors	director	NOUN
emaj-348	88	18	’	'	PUNCT
emaj-348	88	19	presence	presence	NOUN
emaj-348	88	20	significantly	significantly	ADV
emaj-348	88	21	improves	improve	VERB
emaj-348	88	22	the	the	DET
emaj-348	88	23	performance	performance	NOUN
emaj-348	88	24	of	of	ADP
emaj-348	88	25	listed	list	VERB
emaj-348	88	26	non	non	ADJ
emaj-348	88	27	-	-	ADJ
emaj-348	88	28	financial	financial	ADJ
emaj-348	88	29	firms	firm	NOUN
emaj-348	88	30	in	in	ADP
emaj-348	88	31	nigeria	nigeria	PROPN
emaj-348	88	32	.	.	PUNCT
emaj-348	89	1	capital	capital	NOUN
emaj-348	89	2	structure	structure	NOUN
emaj-348	89	3	and	and	CCONJ
emaj-348	89	4	firm	firm	ADJ
emaj-348	89	5	performance	performance	NOUN
emaj-348	89	6	:	:	PUNCT
emaj-348	89	7	the	the	DET
emaj-348	89	8	moderating	moderate	VERB
emaj-348	89	9	role	role	NOUN
emaj-348	89	10	of	of	ADP
emaj-348	89	11	female	female	ADJ
emaj-348	89	12	board	board	NOUN
emaj-348	89	13	directors	director	NOUN
emaj-348	89	14	’	'	PUNCT
emaj-348	89	15	presence	presence	NOUN
emaj-348	89	16	from	from	ADP
emaj-348	89	17	the	the	DET
emaj-348	89	18	preceding	precede	VERB
emaj-348	89	19	sections	section	NOUN
emaj-348	90	1	,	,	PUNCT
emaj-348	90	2	we	we	PRON
emaj-348	90	3	noted	note	VERB
emaj-348	90	4	that	that	SCONJ
emaj-348	90	5	the	the	DET
emaj-348	90	6	trade	trade	NOUN
emaj-348	90	7	-	-	PUNCT
emaj-348	90	8	off	off	ADP
emaj-348	90	9	theory	theory	NOUN
emaj-348	90	10	suggests	suggest	VERB
emaj-348	90	11	firms	firm	NOUN
emaj-348	90	12	balance	balance	VERB
emaj-348	90	13	debt	debt	NOUN
emaj-348	90	14	and	and	CCONJ
emaj-348	90	15	equity	equity	NOUN
emaj-348	90	16	to	to	PART
emaj-348	90	17	optimize	optimize	VERB
emaj-348	90	18	financial	financial	ADJ
emaj-348	90	19	performance	performance	NOUN
emaj-348	90	20	,	,	PUNCT
emaj-348	90	21	while	while	SCONJ
emaj-348	90	22	feminist	feminist	ADJ
emaj-348	90	23	theory	theory	NOUN
emaj-348	90	24	argues	argue	VERB
emaj-348	90	25	that	that	SCONJ
emaj-348	90	26	female	female	ADJ
emaj-348	90	27	directors	director	NOUN
emaj-348	90	28	contribute	contribute	VERB
emaj-348	90	29	to	to	ADP
emaj-348	90	30	better	well	ADJ
emaj-348	90	31	governance	governance	NOUN
emaj-348	90	32	and	and	CCONJ
emaj-348	90	33	risk	risk	NOUN
emaj-348	90	34	management	management	NOUN
emaj-348	90	35	(	(	PUNCT
emaj-348	90	36	abdullah	abdullah	PROPN
emaj-348	90	37	,	,	PUNCT
emaj-348	90	38	2014	2014	NUM
emaj-348	90	39	)	)	PUNCT
emaj-348	90	40	.	.	PUNCT
emaj-348	91	1	we	we	PRON
emaj-348	91	2	extend	extend	VERB
emaj-348	91	3	these	these	DET
emaj-348	91	4	two	two	NUM
emaj-348	91	5	theories	theory	NOUN
emaj-348	91	6	to	to	PART
emaj-348	91	7	include	include	VERB
emaj-348	91	8	the	the	DET
emaj-348	91	9	agency	agency	NOUN
emaj-348	91	10	theory	theory	NOUN
emaj-348	91	11	which	which	PRON
emaj-348	91	12	posits	posit	VERB
emaj-348	91	13	that	that	SCONJ
emaj-348	91	14	gender	gender	NOUN
emaj-348	91	15	diversity	diversity	NOUN
emaj-348	91	16	can	can	AUX
emaj-348	91	17	reduce	reduce	VERB
emaj-348	91	18	agency	agency	NOUN
emaj-348	91	19	conflicts	conflict	NOUN
emaj-348	91	20	between	between	ADP
emaj-348	91	21	managers	manager	NOUN
emaj-348	91	22	and	and	CCONJ
emaj-348	91	23	shareholders	shareholder	NOUN
emaj-348	91	24	,	,	PUNCT
emaj-348	91	25	leading	lead	VERB
emaj-348	91	26	to	to	ADP
emaj-348	91	27	improved	improve	VERB
emaj-348	91	28	financial	financial	ADJ
emaj-348	91	29	outcomes	outcome	NOUN
emaj-348	91	30	(	(	PUNCT
emaj-348	91	31	grosvold	grosvold	ADJ
emaj-348	91	32	,	,	PUNCT
emaj-348	91	33	rayton	rayton	NOUN
emaj-348	91	34	and	and	CCONJ
emaj-348	91	35	brammer	brammer	NOUN
emaj-348	91	36	,	,	PUNCT
emaj-348	91	37	2016	2016	NUM
emaj-348	91	38	)	)	PUNCT
emaj-348	91	39	.	.	PUNCT
emaj-348	92	1	the	the	DET
emaj-348	92	2	combination	combination	NOUN
emaj-348	92	3	of	of	ADP
emaj-348	92	4	these	these	DET
emaj-348	92	5	theories	theory	NOUN
emaj-348	92	6	suggests	suggest	VERB
emaj-348	92	7	that	that	SCONJ
emaj-348	92	8	female	female	ADJ
emaj-348	92	9	directors	director	NOUN
emaj-348	92	10	may	may	AUX
emaj-348	92	11	enhance	enhance	VERB
emaj-348	92	12	the	the	DET
emaj-348	92	13	capital	capital	NOUN
emaj-348	92	14	structure	structure	NOUN
emaj-348	92	15	-	-	PUNCT
emaj-348	92	16	performance	performance	NOUN
emaj-348	92	17	relationship	relationship	NOUN
emaj-348	92	18	by	by	ADP
emaj-348	92	19	promoting	promote	VERB
emaj-348	92	20	transparency	transparency	NOUN
emaj-348	92	21	,	,	PUNCT
emaj-348	92	22	reducing	reduce	VERB
emaj-348	92	23	risk	risk	NOUN
emaj-348	92	24	,	,	PUNCT
emaj-348	92	25	and	and	CCONJ
emaj-348	92	26	improving	improve	VERB
emaj-348	92	27	governance	governance	NOUN
emaj-348	92	28	practices	practice	NOUN
emaj-348	92	29	(	(	PUNCT
emaj-348	92	30	ayalew	ayalew	NOUN
emaj-348	92	31	,	,	PUNCT
emaj-348	92	32	2021	2021	NUM
emaj-348	92	33	)	)	PUNCT
emaj-348	92	34	.	.	PUNCT
emaj-348	93	1	in	in	ADP
emaj-348	93	2	the	the	DET
emaj-348	93	3	nigerian	nigerian	ADJ
emaj-348	93	4	settings	setting	NOUN
emaj-348	93	5	,	,	PUNCT
emaj-348	93	6	these	these	DET
emaj-348	93	7	theories	theory	NOUN
emaj-348	93	8	also	also	ADV
emaj-348	93	9	implies	imply	VERB
emaj-348	93	10	that	that	SCONJ
emaj-348	93	11	gender	gender	NOUN
emaj-348	93	12	diversity	diversity	NOUN
emaj-348	93	13	on	on	ADP
emaj-348	93	14	boards	board	NOUN
emaj-348	93	15	may	may	AUX
emaj-348	93	16	moderate	moderate	VERB
emaj-348	93	17	the	the	DET
emaj-348	93	18	relationship	relationship	NOUN
emaj-348	93	19	between	between	ADP
emaj-348	93	20	capital	capital	NOUN
emaj-348	93	21	structure	structure	NOUN
emaj-348	93	22	and	and	CCONJ
emaj-348	93	23	firm	firm	ADJ
emaj-348	93	24	performance	performance	NOUN
emaj-348	93	25	,	,	PUNCT
emaj-348	93	26	helping	help	VERB
emaj-348	93	27	firms	firm	NOUN
emaj-348	93	28	optimize	optimize	VERB
emaj-348	93	29	their	their	PRON
emaj-348	93	30	financial	financial	ADJ
emaj-348	93	31	strategies	strategy	NOUN
emaj-348	93	32	while	while	SCONJ
emaj-348	93	33	minimizing	minimize	VERB
emaj-348	93	34	risks	risk	NOUN
emaj-348	93	35	(	(	PUNCT
emaj-348	93	36	abdullah	abdullah	NOUN
emaj-348	93	37	and	and	CCONJ
emaj-348	93	38	tursoy	tursoy	ADJ
emaj-348	93	39	,	,	PUNCT
emaj-348	93	40	2021	2021	NUM
emaj-348	93	41	)	)	PUNCT
emaj-348	93	42	.	.	PUNCT
emaj-348	94	1	female	female	ADJ
emaj-348	94	2	directors	director	NOUN
emaj-348	94	3	may	may	AUX
emaj-348	94	4	also	also	ADV
emaj-348	94	5	provide	provide	VERB
emaj-348	94	6	a	a	DET
emaj-348	94	7	more	more	ADV
emaj-348	94	8	balanced	balanced	ADJ
emaj-348	94	9	approach	approach	NOUN
emaj-348	94	10	to	to	ADP
emaj-348	94	11	financial	financial	ADJ
emaj-348	94	12	decision	decision	NOUN
emaj-348	94	13	-	-	PUNCT
emaj-348	94	14	making	making	NOUN
emaj-348	94	15	,	,	PUNCT
emaj-348	94	16	enhancing	enhance	VERB
emaj-348	94	17	the	the	DET
emaj-348	94	18	benefits	benefit	NOUN
emaj-348	94	19	of	of	ADP
emaj-348	94	20	debt	debt	NOUN
emaj-348	94	21	while	while	SCONJ
emaj-348	94	22	mitigating	mitigate	VERB
emaj-348	94	23	potential	potential	ADJ
emaj-348	94	24	risks	risk	NOUN
emaj-348	94	25	.	.	PUNCT
emaj-348	95	1	in	in	ADP
emaj-348	95	2	the	the	DET
emaj-348	95	3	literature	literature	NOUN
emaj-348	95	4	,	,	PUNCT
emaj-348	95	5	there	there	PRON
emaj-348	95	6	is	be	VERB
emaj-348	95	7	a	a	DET
emaj-348	95	8	notable	notable	ADJ
emaj-348	95	9	lack	lack	NOUN
emaj-348	95	10	of	of	ADP
emaj-348	95	11	studies	study	NOUN
emaj-348	95	12	that	that	PRON
emaj-348	95	13	examine	examine	VERB
emaj-348	95	14	the	the	DET
emaj-348	95	15	moderating	moderate	VERB
emaj-348	95	16	role	role	NOUN
emaj-348	95	17	of	of	ADP
emaj-348	95	18	female	female	ADJ
emaj-348	95	19	board	board	NOUN
emaj-348	95	20	directors	director	NOUN
emaj-348	95	21	on	on	ADP
emaj-348	95	22	the	the	DET
emaj-348	95	23	relationship	relationship	NOUN
emaj-348	95	24	between	between	ADP
emaj-348	95	25	capital	capital	NOUN
emaj-348	95	26	structure	structure	NOUN
emaj-348	95	27	and	and	CCONJ
emaj-348	95	28	firm	firm	ADJ
emaj-348	95	29	performance	performance	NOUN
emaj-348	95	30	,	,	PUNCT
emaj-348	95	31	particularly	particularly	ADV
emaj-348	95	32	in	in	ADP
emaj-348	95	33	the	the	DET
emaj-348	95	34	nigerian	nigerian	ADJ
emaj-348	95	35	context	context	NOUN
emaj-348	95	36	.	.	PUNCT
emaj-348	96	1	however	however	ADV
emaj-348	96	2	,	,	PUNCT
emaj-348	96	3	few	few	ADJ
emaj-348	96	4	studies	study	NOUN
emaj-348	96	5	have	have	AUX
emaj-348	96	6	examined	examine	VERB
emaj-348	96	7	the	the	DET
emaj-348	96	8	moderating	moderate	VERB
emaj-348	96	9	role	role	NOUN
emaj-348	96	10	of	of	ADP
emaj-348	96	11	corporate	corporate	ADJ
emaj-348	96	12	governance	governance	NOUN
emaj-348	96	13	factors	factor	NOUN
emaj-348	96	14	on	on	ADP
emaj-348	96	15	the	the	DET
emaj-348	96	16	capital	capital	NOUN
emaj-348	96	17	structure	structure	NOUN
emaj-348	96	18	-	-	PUNCT
emaj-348	96	19	performance	performance	NOUN
emaj-348	96	20	relationship	relationship	NOUN
emaj-348	96	21	.	.	PUNCT
emaj-348	97	1	in	in	ADP
emaj-348	97	2	indonesia	indonesia	PROPN
emaj-348	97	3	,	,	PUNCT
emaj-348	97	4	we	we	PRON
emaj-348	97	5	identify	identify	VERB
emaj-348	97	6	the	the	DET
emaj-348	97	7	study	study	NOUN
emaj-348	97	8	of	of	ADP
emaj-348	97	9	ngatno	ngatno	PROPN
emaj-348	97	10	,	,	PUNCT
emaj-348	97	11	apriatni	apriatni	NOUN
emaj-348	97	12	and	and	CCONJ
emaj-348	97	13	youlianto	youlianto	NOUN
emaj-348	97	14	(	(	PUNCT
emaj-348	97	15	2021	2021	NUM
emaj-348	97	16	)	)	PUNCT
emaj-348	97	17	who	who	PRON
emaj-348	97	18	found	find	VERB
emaj-348	97	19	that	that	SCONJ
emaj-348	97	20	only	only	ADV
emaj-348	97	21	the	the	DET
emaj-348	97	22	size	size	NOUN
emaj-348	97	23	of	of	ADP
emaj-348	97	24	the	the	DET
emaj-348	97	25	board	board	NOUN
emaj-348	97	26	of	of	ADP
emaj-348	97	27	commissioners	commissioner	NOUN
emaj-348	97	28	significantly	significantly	ADV
emaj-348	97	29	moderates	moderate	VERB
emaj-348	97	30	the	the	DET
emaj-348	97	31	relationship	relationship	NOUN
emaj-348	97	32	between	between	ADP
emaj-348	97	33	capital	capital	NOUN
emaj-348	97	34	structure	structure	NOUN
emaj-348	97	35	and	and	CCONJ
emaj-348	97	36	firm	firm	ADJ
emaj-348	97	37	performance	performance	NOUN
emaj-348	97	38	in	in	ADP
emaj-348	97	39	rural	rural	ADJ
emaj-348	97	40	banks	bank	NOUN
emaj-348	97	41	.	.	PUNCT
emaj-348	98	1	similarly	similarly	ADV
emaj-348	98	2	,	,	PUNCT
emaj-348	98	3	sdiq	sdiq	PROPN
emaj-348	98	4	and	and	CCONJ
emaj-348	98	5	abdullah	abdullah	PROPN
emaj-348	98	6	(	(	PUNCT
emaj-348	98	7	2022	2022	NUM
emaj-348	98	8	)	)	PUNCT
emaj-348	98	9	reported	report	VERB
emaj-348	98	10	agency	agency	NOUN
emaj-348	98	11	cost	cost	NOUN
emaj-348	98	12	significantly	significantly	ADV
emaj-348	98	13	moderates	moderate	VERB
emaj-348	98	14	the	the	DET
emaj-348	98	15	relationship	relationship	NOUN
emaj-348	98	16	between	between	ADP
emaj-348	98	17	capital	capital	NOUN
emaj-348	98	18	structure	structure	NOUN
emaj-348	98	19	and	and	CCONJ
emaj-348	98	20	financial	financial	ADJ
emaj-348	98	21	performance	performance	NOUN
emaj-348	98	22	.	.	PUNCT
emaj-348	99	1	specifically	specifically	ADV
emaj-348	99	2	,	,	PUNCT
emaj-348	99	3	while	while	SCONJ
emaj-348	99	4	the	the	DET
emaj-348	99	5	direct	direct	ADJ
emaj-348	99	6	effect	effect	NOUN
emaj-348	99	7	of	of	ADP
emaj-348	99	8	capital	capital	NOUN
emaj-348	99	9	structure	structure	NOUN
emaj-348	99	10	on	on	ADP
emaj-348	99	11	roa	roa	PROPN
emaj-348	99	12	was	be	AUX
emaj-348	99	13	negative	negative	ADJ
emaj-348	99	14	,	,	PUNCT
emaj-348	99	15	the	the	DET
emaj-348	99	16	interaction	interaction	NOUN
emaj-348	99	17	between	between	ADP
emaj-348	99	18	debt	debt	NOUN
emaj-348	99	19	ratio	ratio	NOUN
emaj-348	99	20	and	and	CCONJ
emaj-348	99	21	operating	operating	NOUN
emaj-348	99	22	expense	expense	NOUN
emaj-348	99	23	ratio	ratio	NOUN
emaj-348	99	24	had	have	VERB
emaj-348	99	25	a	a	DET
emaj-348	99	26	positive	positive	ADJ
emaj-348	99	27	impact	impact	NOUN
emaj-348	99	28	on	on	ADP
emaj-348	99	29	roa	roa	PROPN
emaj-348	99	30	,	,	PUNCT
emaj-348	99	31	suggesting	suggest	VERB
emaj-348	99	32	that	that	SCONJ
emaj-348	99	33	higher	high	ADJ
emaj-348	99	34	debt	debt	NOUN
emaj-348	99	35	levels	level	NOUN
emaj-348	99	36	may	may	AUX
emaj-348	99	37	reduce	reduce	VERB
emaj-348	99	38	agency	agency	NOUN
emaj-348	99	39	costs	cost	NOUN
emaj-348	99	40	and	and	CCONJ
emaj-348	99	41	thus	thus	ADV
emaj-348	99	42	improve	improve	VERB
emaj-348	99	43	financial	financial	ADJ
emaj-348	99	44	performance	performance	NOUN
emaj-348	99	45	in	in	ADP
emaj-348	99	46	iraqi	iraqi	ADJ
emaj-348	99	47	firms	firm	NOUN
emaj-348	99	48	.	.	PUNCT
emaj-348	100	1	further	further	ADJ
emaj-348	100	2	research	research	NOUN
emaj-348	100	3	by	by	ADP
emaj-348	100	4	saeed	saeed	PROPN
emaj-348	100	5	et	et	PROPN
emaj-348	100	6	al	al	PROPN
emaj-348	100	7	.	.	PROPN
emaj-348	101	1	(	(	PUNCT
emaj-348	101	2	2022	2022	NUM
emaj-348	101	3	)	)	PUNCT
emaj-348	101	4	in	in	ADP
emaj-348	101	5	pakistan	pakistan	PROPN
emaj-348	101	6	revealed	reveal	VERB
emaj-348	101	7	a	a	DET
emaj-348	101	8	u	u	NOUN
emaj-348	101	9	-	-	ADJ
emaj-348	101	10	shaped	shape	VERB
emaj-348	101	11	relationship	relationship	NOUN
emaj-348	101	12	between	between	ADP
emaj-348	101	13	debt	debt	NOUN
emaj-348	101	14	and	and	CCONJ
emaj-348	101	15	tobin	tobin	NOUN
emaj-348	101	16	's	's	PART
emaj-348	101	17	q	q	NOUN
emaj-348	101	18	,	,	PUNCT
emaj-348	101	19	suggesting	suggest	VERB
emaj-348	101	20	that	that	SCONJ
emaj-348	101	21	initially	initially	ADV
emaj-348	101	22	,	,	PUNCT
emaj-348	101	23	higher	high	ADJ
emaj-348	101	24	debt	debt	NOUN
emaj-348	101	25	levels	level	NOUN
emaj-348	101	26	reduce	reduce	VERB
emaj-348	101	27	firm	firm	ADJ
emaj-348	101	28	value	value	NOUN
emaj-348	101	29	,	,	PUNCT
emaj-348	101	30	but	but	CCONJ
emaj-348	101	31	when	when	SCONJ
emaj-348	101	32	mediated	mediate	VERB
emaj-348	101	33	by	by	ADP
emaj-348	101	34	gdp	gdp	NOUN
emaj-348	101	35	per	per	ADP
emaj-348	101	36	capita	capita	NOUN
emaj-348	101	37	in	in	ADP
emaj-348	101	38	manufacturing	manufacturing	NOUN
emaj-348	101	39	firms	firm	NOUN
emaj-348	101	40	.	.	PUNCT
emaj-348	102	1	in	in	ADP
emaj-348	102	2	the	the	DET
emaj-348	102	3	nigerian	nigerian	ADJ
emaj-348	102	4	settings	setting	NOUN
emaj-348	102	5	,	,	PUNCT
emaj-348	102	6	where	where	SCONJ
emaj-348	102	7	firms	firm	NOUN
emaj-348	102	8	often	often	ADV
emaj-348	102	9	face	face	VERB
emaj-348	102	10	volatile	volatile	ADJ
emaj-348	102	11	market	market	NOUN
emaj-348	102	12	conditions	condition	NOUN
emaj-348	102	13	,	,	PUNCT
emaj-348	102	14	inadequate	inadequate	ADJ
emaj-348	102	15	access	access	NOUN
emaj-348	102	16	to	to	ADP
emaj-348	102	17	capital	capital	NOUN
emaj-348	102	18	,	,	PUNCT
emaj-348	102	19	and	and	CCONJ
emaj-348	102	20	regulatory	regulatory	ADJ
emaj-348	102	21	uncertainties	uncertainty	NOUN
emaj-348	102	22	,	,	PUNCT
emaj-348	102	23	female	female	ADJ
emaj-348	102	24	directors	director	NOUN
emaj-348	102	25	may	may	AUX
emaj-348	102	26	play	play	VERB
emaj-348	102	27	a	a	DET
emaj-348	102	28	crucial	crucial	ADJ
emaj-348	102	29	moderating	moderate	VERB
emaj-348	102	30	role	role	NOUN
emaj-348	102	31	.	.	PUNCT
emaj-348	103	1	the	the	DET
emaj-348	103	2	unique	unique	ADJ
emaj-348	103	3	perspective	perspective	NOUN
emaj-348	103	4	they	they	PRON
emaj-348	103	5	bring	bring	VERB
emaj-348	103	6	could	could	AUX
emaj-348	103	7	temper	temper	VERB
emaj-348	103	8	the	the	DET
emaj-348	103	9	often	often	ADV
emaj-348	103	10	-	-	PUNCT
emaj-348	103	11	aggressive	aggressive	ADJ
emaj-348	103	12	risk	risk	NOUN
emaj-348	103	13	-	-	PUNCT
emaj-348	103	14	taking	take	VERB
emaj-348	103	15	behaviors	behavior	NOUN
emaj-348	103	16	linked	link	VERB
emaj-348	103	17	with	with	ADP
emaj-348	103	18	higher	high	ADJ
emaj-348	103	19	debt	debt	NOUN
emaj-348	103	20	levels	level	NOUN
emaj-348	103	21	,	,	PUNCT
emaj-348	103	22	thus	thus	ADV
emaj-348	103	23	creating	create	VERB
emaj-348	103	24	a	a	DET
emaj-348	103	25	more	more	ADV
emaj-348	103	26	balanced	balanced	ADJ
emaj-348	103	27	capital	capital	NOUN
emaj-348	103	28	structure	structure	NOUN
emaj-348	103	29	that	that	PRON
emaj-348	103	30	promotes	promote	VERB
emaj-348	103	31	long	long	ADJ
emaj-348	103	32	-	-	PUNCT
emaj-348	103	33	term	term	NOUN
emaj-348	103	34	firm	firm	ADJ
emaj-348	103	35	stability	stability	NOUN
emaj-348	103	36	and	and	CCONJ
emaj-348	103	37	performance	performance	NOUN
emaj-348	103	38	.	.	PUNCT
emaj-348	104	1	because	because	SCONJ
emaj-348	104	2	of	of	ADP
emaj-348	104	3	the	the	DET
emaj-348	104	4	foregoing	foregoing	NOUN
emaj-348	104	5	,	,	PUNCT
emaj-348	104	6	we	we	PRON
emaj-348	104	7	state	state	VERB
emaj-348	104	8	our	our	PRON
emaj-348	104	9	third	third	ADJ
emaj-348	104	10	and	and	CCONJ
emaj-348	104	11	final	final	ADJ
emaj-348	104	12	hypothesis	hypothesis	NOUN
emaj-348	104	13	as	as	ADP
emaj-348	104	14	:	:	PUNCT
emaj-348	104	15	h3	h3	NOUN
emaj-348	104	16	:	:	PUNCT
emaj-348	104	17	female	female	ADJ
emaj-348	104	18	board	board	NOUN
emaj-348	104	19	directors	director	NOUN
emaj-348	104	20	’	’	PART
emaj-348	104	21	presence	presence	NOUN
emaj-348	104	22	significantly	significantly	ADV
emaj-348	104	23	moderates	moderate	VERB
emaj-348	104	24	the	the	DET
emaj-348	104	25	relationship	relationship	NOUN
emaj-348	104	26	between	between	ADP
emaj-348	104	27	capital	capital	NOUN
emaj-348	104	28	structure	structure	NOUN
emaj-348	104	29	and	and	CCONJ
emaj-348	104	30	the	the	DET
emaj-348	104	31	performance	performance	NOUN
emaj-348	104	32	of	of	ADP
emaj-348	104	33	listed	list	VERB
emaj-348	104	34	non	non	ADJ
emaj-348	104	35	-	-	ADJ
emaj-348	104	36	financial	financial	ADJ
emaj-348	104	37	firms	firm	NOUN
emaj-348	104	38	in	in	ADP
emaj-348	104	39	nigeria	nigeria	PROPN
emaj-348	104	40	.	.	PUNCT
emaj-348	105	1	conceptual	conceptual	ADJ
emaj-348	105	2	framework	framework	NOUN
emaj-348	105	3	following	follow	VERB
emaj-348	105	4	the	the	DET
emaj-348	105	5	approach	approach	NOUN
emaj-348	105	6	outlined	outline	VERB
emaj-348	105	7	by	by	ADP
emaj-348	105	8	baron	baron	NOUN
emaj-348	105	9	and	and	CCONJ
emaj-348	105	10	kenny	kenny	PROPN
emaj-348	105	11	(	(	PUNCT
emaj-348	105	12	1986	1986	NUM
emaj-348	105	13	)	)	PUNCT
emaj-348	105	14	,	,	PUNCT
emaj-348	105	15	we	we	PRON
emaj-348	105	16	construct	construct	VERB
emaj-348	105	17	our	our	PRON
emaj-348	105	18	conceptual	conceptual	ADJ
emaj-348	105	19	framework	framework	NOUN
emaj-348	105	20	to	to	PART
emaj-348	105	21	include	include	VERB
emaj-348	105	22	three	three	NUM
emaj-348	105	23	causal	causal	ADJ
emaj-348	105	24	pathways	pathway	NOUN
emaj-348	105	25	leading	lead	VERB
emaj-348	105	26	to	to	ADP
emaj-348	105	27	firm	firm	ADJ
emaj-348	105	28	performance	performance	NOUN
emaj-348	105	29	:	:	PUNCT
emaj-348	105	30	the	the	DET
emaj-348	105	31	direct	direct	ADJ
emaj-348	105	32	effect	effect	NOUN
emaj-348	105	33	of	of	ADP
emaj-348	105	34	capital	capital	NOUN
emaj-348	105	35	structure	structure	NOUN
emaj-348	105	36	as	as	ADP
emaj-348	105	37	a	a	DET
emaj-348	105	38	predictor	predictor	NOUN
emaj-348	105	39	(	(	PUNCT
emaj-348	105	40	path	path	NOUN
emaj-348	105	41	a	a	PRON
emaj-348	105	42	)	)	PUNCT
emaj-348	105	43	,	,	PUNCT
emaj-348	105	44	the	the	DET
emaj-348	105	45	moderating	moderate	VERB
emaj-348	105	46	effect	effect	NOUN
emaj-348	105	47	of	of	ADP
emaj-348	105	48	female	female	ADJ
emaj-348	105	49	board	board	NOUN
emaj-348	105	50	directors	director	NOUN
emaj-348	105	51	’	'	PUNCT
emaj-348	105	52	presence	presence	NOUN
emaj-348	105	53	(	(	PUNCT
emaj-348	105	54	path	path	NOUN
emaj-348	105	55	b	b	NOUN
emaj-348	105	56	)	)	PUNCT
emaj-348	105	57	,	,	PUNCT
emaj-348	105	58	and	and	CCONJ
emaj-348	105	59	the	the	DET
emaj-348	105	60	combined	combined	ADJ
emaj-348	105	61	interaction	interaction	NOUN
emaj-348	105	62	between	between	ADP
emaj-348	105	63	these	these	DET
emaj-348	105	64	two	two	NUM
emaj-348	105	65	variables	variable	NOUN
emaj-348	105	66	(	(	PUNCT
emaj-348	105	67	path	path	NOUN
emaj-348	105	68	c	c	NOUN
emaj-348	105	69	)	)	PUNCT
emaj-348	105	70	.	.	PUNCT
emaj-348	106	1	volume	volume	NOUN
emaj-348	106	2	14	14	NUM
emaj-348	106	3	no	no	DET
emaj-348	106	4	2	2	NUM
emaj-348	106	5	(	(	PUNCT
emaj-348	106	6	2024	2024	NUM
emaj-348	106	7	)	)	PUNCT
emaj-348	106	8	|	|	ADV
emaj-348	106	9	issn	issn	VERB
emaj-348	106	10	2158	2158	NUM
emaj-348	106	11	-	-	SYM
emaj-348	106	12	8708	8708	NUM
emaj-348	106	13	(	(	PUNCT
emaj-348	106	14	online	online	NOUN
emaj-348	106	15	)	)	PUNCT
emaj-348	106	16	|	|	ADV
emaj-348	106	17	doi	doi	X
emaj-348	106	18	10.5195	10.5195	NUM
emaj-348	106	19	/	/	SYM
emaj-348	106	20	emaj.2024.348	emaj.2024.348	NOUN
emaj-348	107	1	|	|	NOUN
emaj-348	107	2	http://emaj.pitt.edu	http://emaj.pitt.edu	VERB
emaj-348	107	3	idorenyin	idorenyin	PROPN
emaj-348	107	4	okon	okon	PROPN
emaj-348	107	5	,	,	PUNCT
emaj-348	107	6	ozele	ozele	PROPN
emaj-348	107	7	clement	clement	PROPN
emaj-348	107	8	emerging	emerge	VERB
emaj-348	107	9	markets	market	NOUN
emaj-348	107	10	journal	journal	PROPN
emaj-348	107	11	page	page	NOUN
emaj-348	107	12	|37|	|37|	NOUN
emaj-348	107	13	figure	figure	VERB
emaj-348	107	14	1	1	NUM
emaj-348	107	15	.	.	PUNCT
emaj-348	107	16	conceptual	conceptual	ADJ
emaj-348	107	17	framework	framework	PROPN
emaj-348	107	18	source	source	NOUN
emaj-348	107	19	:	:	PUNCT
emaj-348	107	20	authors	author	NOUN
emaj-348	107	21	’	'	PUNCT
emaj-348	107	22	computation	computation	NOUN
emaj-348	107	23	based	base	VERB
emaj-348	107	24	on	on	ADP
emaj-348	107	25	baron	baron	NOUN
emaj-348	107	26	and	and	CCONJ
emaj-348	107	27	kenny	kenny	PROPN
emaj-348	107	28	(	(	PUNCT
emaj-348	107	29	1986	1986	NUM
emaj-348	107	30	)	)	PUNCT
emaj-348	107	31	in	in	ADP
emaj-348	107	32	figure	figure	NOUN
emaj-348	107	33	1	1	NUM
emaj-348	107	34	,	,	PUNCT
emaj-348	107	35	where	where	SCONJ
emaj-348	107	36	the	the	DET
emaj-348	107	37	coefficient	coefficient	NOUN
emaj-348	107	38	of	of	ADP
emaj-348	107	39	the	the	DET
emaj-348	107	40	interaction	interaction	NOUN
emaj-348	107	41	term	term	NOUN
emaj-348	107	42	(	(	PUNCT
emaj-348	107	43	c	c	X
emaj-348	107	44	)	)	PUNCT
emaj-348	107	45	is	be	AUX
emaj-348	107	46	significant	significant	ADJ
emaj-348	107	47	,	,	PUNCT
emaj-348	107	48	then	then	ADV
emaj-348	107	49	the	the	DET
emaj-348	107	50	moderation	moderation	NOUN
emaj-348	107	51	hypothesis	hypothesis	NOUN
emaj-348	107	52	as	as	SCONJ
emaj-348	107	53	highlighted	highlight	VERB
emaj-348	107	54	by	by	ADP
emaj-348	107	55	baron	baron	NOUN
emaj-348	107	56	and	and	CCONJ
emaj-348	107	57	kenny	kenny	PROPN
emaj-348	107	58	(	(	PUNCT
emaj-348	107	59	1986	1986	NUM
emaj-348	107	60	)	)	PUNCT
emaj-348	107	61	is	be	AUX
emaj-348	107	62	supported	support	VERB
emaj-348	107	63	,	,	PUNCT
emaj-348	107	64	indicating	indicate	VERB
emaj-348	107	65	that	that	SCONJ
emaj-348	107	66	female	female	ADJ
emaj-348	107	67	board	board	NOUN
emaj-348	107	68	directors	director	NOUN
emaj-348	107	69	’	'	PUNCT
emaj-348	107	70	presence	presence	NOUN
emaj-348	107	71	(	(	PUNCT
emaj-348	107	72	b	b	NOUN
emaj-348	107	73	)	)	PUNCT
emaj-348	107	74	moderate	moderate	ADJ
emaj-348	107	75	or	or	CCONJ
emaj-348	107	76	alter	alter	VERB
emaj-348	107	77	the	the	DET
emaj-348	107	78	relationship	relationship	NOUN
emaj-348	107	79	between	between	ADP
emaj-348	107	80	capital	capital	NOUN
emaj-348	107	81	structure	structure	NOUN
emaj-348	107	82	(	(	PUNCT
emaj-348	107	83	a	a	NOUN
emaj-348	107	84	)	)	PUNCT
emaj-348	107	85	and	and	CCONJ
emaj-348	107	86	firm	firm	ADJ
emaj-348	107	87	performance	performance	NOUN
emaj-348	107	88	.	.	PUNCT
emaj-348	108	1	according	accord	VERB
emaj-348	108	2	to	to	ADP
emaj-348	108	3	baron	baron	NOUN
emaj-348	108	4	and	and	CCONJ
emaj-348	108	5	kenny	kenny	PROPN
emaj-348	108	6	(	(	PUNCT
emaj-348	108	7	1986	1986	NUM
emaj-348	108	8	)	)	PUNCT
emaj-348	108	9	,	,	PUNCT
emaj-348	108	10	“	"	PUNCT
emaj-348	108	11	there	there	PRON
emaj-348	108	12	also	also	ADV
emaj-348	108	13	may	may	AUX
emaj-348	108	14	be	be	AUX
emaj-348	108	15	significant	significant	ADJ
emaj-348	108	16	effects	effect	NOUN
emaj-348	108	17	for	for	ADP
emaj-348	108	18	the	the	DET
emaj-348	108	19	predictor	predictor	NOUN
emaj-348	108	20	and	and	CCONJ
emaj-348	108	21	the	the	DET
emaj-348	108	22	moderator	moderator	NOUN
emaj-348	108	23	(	(	PUNCT
emaj-348	108	24	paths	path	NOUN
emaj-348	108	25	a	a	PRON
emaj-348	108	26	and	and	CCONJ
emaj-348	108	27	b	b	NOUN
emaj-348	108	28	)	)	PUNCT
emaj-348	108	29	,	,	PUNCT
emaj-348	108	30	but	but	CCONJ
emaj-348	108	31	these	these	PRON
emaj-348	108	32	are	be	AUX
emaj-348	108	33	not	not	PART
emaj-348	108	34	directly	directly	ADV
emaj-348	108	35	relevant	relevant	ADJ
emaj-348	108	36	conceptually	conceptually	ADV
emaj-348	108	37	to	to	ADP
emaj-348	108	38	testing	test	VERB
emaj-348	108	39	the	the	DET
emaj-348	108	40	moderator	moderator	NOUN
emaj-348	108	41	hypothesis	hypothesis	NOUN
emaj-348	108	42	”	"	PUNCT
emaj-348	108	43	.	.	PUNCT
emaj-348	109	1	thus	thus	ADV
emaj-348	109	2	,	,	PUNCT
emaj-348	109	3	we	we	PRON
emaj-348	109	4	are	be	AUX
emaj-348	109	5	only	only	ADV
emaj-348	109	6	conclusive	conclusive	ADJ
emaj-348	109	7	on	on	ADP
emaj-348	109	8	the	the	DET
emaj-348	109	9	significance	significance	NOUN
emaj-348	109	10	of	of	ADP
emaj-348	109	11	the	the	DET
emaj-348	109	12	integration	integration	NOUN
emaj-348	109	13	term	term	NOUN
emaj-348	109	14	between	between	ADP
emaj-348	109	15	capital	capital	NOUN
emaj-348	109	16	structure	structure	NOUN
emaj-348	109	17	and	and	CCONJ
emaj-348	109	18	female	female	ADJ
emaj-348	109	19	board	board	NOUN
emaj-348	109	20	directors	director	NOUN
emaj-348	109	21	’	'	PUNCT
emaj-348	109	22	presence	presence	NOUN
emaj-348	109	23	.	.	PUNCT
emaj-348	110	1	furthermore	furthermore	ADV
emaj-348	110	2	,	,	PUNCT
emaj-348	110	3	to	to	PART
emaj-348	110	4	isolate	isolate	VERB
emaj-348	110	5	the	the	DET
emaj-348	110	6	observed	observe	VERB
emaj-348	110	7	correlation	correlation	NOUN
emaj-348	110	8	between	between	ADP
emaj-348	110	9	the	the	DET
emaj-348	110	10	moderator	moderator	NOUN
emaj-348	110	11	variable	variable	NOUN
emaj-348	110	12	,	,	PUNCT
emaj-348	110	13	predictor	predictor	NOUN
emaj-348	110	14	variable	variable	NOUN
emaj-348	110	15	,	,	PUNCT
emaj-348	110	16	and	and	CCONJ
emaj-348	110	17	their	their	PRON
emaj-348	110	18	interaction	interaction	NOUN
emaj-348	110	19	,	,	PUNCT
emaj-348	110	20	we	we	PRON
emaj-348	110	21	require	require	VERB
emaj-348	110	22	two	two	NUM
emaj-348	110	23	models	model	NOUN
emaj-348	110	24	:	:	PUNCT
emaj-348	110	25	one	one	NUM
emaj-348	110	26	to	to	PART
emaj-348	110	27	test	test	VERB
emaj-348	110	28	paths	path	NOUN
emaj-348	110	29	“	"	PUNCT
emaj-348	110	30	a	a	PRON
emaj-348	110	31	”	"	PUNCT
emaj-348	110	32	and	and	CCONJ
emaj-348	110	33	“	"	PUNCT
emaj-348	110	34	b	b	NOUN
emaj-348	110	35	”	"	PUNCT
emaj-348	110	36	,	,	PUNCT
emaj-348	110	37	and	and	CCONJ
emaj-348	110	38	the	the	DET
emaj-348	110	39	other	other	ADJ
emaj-348	110	40	to	to	PART
emaj-348	110	41	test	test	VERB
emaj-348	110	42	path	path	NOUN
emaj-348	110	43	“	"	PUNCT
emaj-348	110	44	c	c	NOUN
emaj-348	110	45	”	"	PUNCT
emaj-348	110	46	.	.	PUNCT
emaj-348	111	1	iii	iii	X
emaj-348	111	2	.	.	PUNCT
emaj-348	111	3	data	datum	NOUN
emaj-348	111	4	and	and	CCONJ
emaj-348	111	5	variables	variable	NOUN
emaj-348	111	6	we	we	PRON
emaj-348	111	7	begin	begin	VERB
emaj-348	111	8	by	by	ADP
emaj-348	111	9	manually	manually	ADV
emaj-348	111	10	gathering	gather	VERB
emaj-348	111	11	data	datum	NOUN
emaj-348	111	12	from	from	ADP
emaj-348	111	13	the	the	DET
emaj-348	111	14	annual	annual	ADJ
emaj-348	111	15	reports	report	NOUN
emaj-348	111	16	of	of	ADP
emaj-348	111	17	the	the	DET
emaj-348	111	18	sample	sample	NOUN
emaj-348	111	19	firms	firm	NOUN
emaj-348	111	20	since	since	SCONJ
emaj-348	111	21	information	information	NOUN
emaj-348	111	22	from	from	ADP
emaj-348	111	23	the	the	DET
emaj-348	111	24	annual	annual	ADJ
emaj-348	111	25	report	report	NOUN
emaj-348	111	26	is	be	AUX
emaj-348	111	27	audited	audit	VERB
emaj-348	111	28	and	and	CCONJ
emaj-348	111	29	thus	thus	ADV
emaj-348	111	30	,	,	PUNCT
emaj-348	111	31	normally	normally	ADV
emaj-348	111	32	used	use	VERB
emaj-348	111	33	by	by	ADP
emaj-348	111	34	firms	firm	NOUN
emaj-348	111	35	to	to	PART
emaj-348	111	36	communicate	communicate	VERB
emaj-348	111	37	with	with	ADP
emaj-348	111	38	the	the	DET
emaj-348	111	39	public	public	NOUN
emaj-348	111	40	about	about	ADP
emaj-348	111	41	their	their	PRON
emaj-348	111	42	operations	operation	NOUN
emaj-348	111	43	and	and	CCONJ
emaj-348	111	44	performances	performance	NOUN
emaj-348	111	45	.	.	PUNCT
emaj-348	112	1	our	our	PRON
emaj-348	112	2	population	population	NOUN
emaj-348	112	3	consists	consist	VERB
emaj-348	112	4	of	of	ADP
emaj-348	112	5	109	109	NUM
emaj-348	112	6	listed	list	VERB
emaj-348	112	7	non	non	ADJ
emaj-348	112	8	-	-	ADJ
emaj-348	112	9	finance	finance	ADJ
emaj-348	112	10	firms	firm	NOUN
emaj-348	112	11	on	on	ADP
emaj-348	112	12	the	the	DET
emaj-348	112	13	floor	floor	NOUN
emaj-348	112	14	of	of	ADP
emaj-348	112	15	the	the	DET
emaj-348	112	16	nigerian	nigerian	ADJ
emaj-348	112	17	exchange	exchange	NOUN
emaj-348	112	18	group	group	NOUN
emaj-348	112	19	from	from	ADP
emaj-348	112	20	2012	2012	NUM
emaj-348	112	21	to	to	ADP
emaj-348	112	22	2021	2021	NUM
emaj-348	112	23	(	(	PUNCT
emaj-348	112	24	ngx	ngx	PROPN
emaj-348	112	25	factbook	factbook	NOUN
emaj-348	112	26	,	,	PUNCT
emaj-348	112	27	2021	2021	NUM
emaj-348	112	28	)	)	PUNCT
emaj-348	112	29	.	.	PUNCT
emaj-348	113	1	specifically	specifically	ADV
emaj-348	113	2	,	,	PUNCT
emaj-348	113	3	a	a	DET
emaj-348	113	4	homogenous	homogenous	ADJ
emaj-348	113	5	sample	sample	NOUN
emaj-348	113	6	was	be	AUX
emaj-348	113	7	obtained	obtain	VERB
emaj-348	113	8	through	through	ADP
emaj-348	113	9	a	a	DET
emaj-348	113	10	purposive	purposive	NOUN
emaj-348	113	11	or	or	CCONJ
emaj-348	113	12	filtering	filter	VERB
emaj-348	113	13	sampling	sampling	NOUN
emaj-348	113	14	technique	technique	NOUN
emaj-348	113	15	since	since	SCONJ
emaj-348	113	16	firms	firm	NOUN
emaj-348	113	17	were	be	AUX
emaj-348	113	18	selected	select	VERB
emaj-348	113	19	based	base	VERB
emaj-348	113	20	on	on	ADP
emaj-348	113	21	meeting	meet	VERB
emaj-348	113	22	certain	certain	ADJ
emaj-348	113	23	assumptions	assumption	NOUN
emaj-348	113	24	.	.	PUNCT
emaj-348	114	1	this	this	PRON
emaj-348	114	2	implies	imply	VERB
emaj-348	114	3	that	that	SCONJ
emaj-348	114	4	from	from	ADP
emaj-348	114	5	a	a	DET
emaj-348	114	6	population	population	NOUN
emaj-348	114	7	of	of	ADP
emaj-348	114	8	109	109	NUM
emaj-348	114	9	listed	list	VERB
emaj-348	114	10	nonfinance	nonfinance	ADJ
emaj-348	114	11	firms	firm	NOUN
emaj-348	114	12	in	in	ADP
emaj-348	114	13	nigeria	nigeria	PROPN
emaj-348	114	14	,	,	PUNCT
emaj-348	114	15	we	we	PRON
emaj-348	114	16	expunge	expunge	VERB
emaj-348	114	17	all	all	DET
emaj-348	114	18	non	non	ADJ
emaj-348	114	19	-	-	ADJ
emaj-348	114	20	finance	finance	ADJ
emaj-348	114	21	firms	firm	NOUN
emaj-348	114	22	that	that	PRON
emaj-348	114	23	joined	join	VERB
emaj-348	114	24	the	the	DET
emaj-348	114	25	exchange	exchange	NOUN
emaj-348	114	26	after	after	ADP
emaj-348	114	27	year	year	NOUN
emaj-348	114	28	2012	2012	NUM
emaj-348	114	29	.	.	PUNCT
emaj-348	115	1	furthermore	furthermore	ADV
emaj-348	115	2	,	,	PUNCT
emaj-348	115	3	we	we	PRON
emaj-348	115	4	deselected	deselecte	VERB
emaj-348	115	5	firms	firm	NOUN
emaj-348	115	6	that	that	PRON
emaj-348	115	7	did	do	AUX
emaj-348	115	8	not	not	PART
emaj-348	115	9	reveal	reveal	VERB
emaj-348	115	10	all	all	DET
emaj-348	115	11	the	the	DET
emaj-348	115	12	information	information	NOUN
emaj-348	115	13	required	require	VERB
emaj-348	115	14	for	for	ADP
emaj-348	115	15	carrying	carry	VERB
emaj-348	115	16	out	out	ADP
emaj-348	115	17	the	the	DET
emaj-348	115	18	analysis	analysis	NOUN
emaj-348	115	19	hence	hence	ADV
emaj-348	115	20	the	the	DET
emaj-348	115	21	final	final	ADJ
emaj-348	115	22	sample	sample	NOUN
emaj-348	115	23	consists	consist	VERB
emaj-348	115	24	of	of	ADP
emaj-348	115	25	70	70	NUM
emaj-348	115	26	listed	list	VERB
emaj-348	115	27	non	non	ADJ
emaj-348	115	28	-	-	ADJ
emaj-348	115	29	finance	finance	ADJ
emaj-348	115	30	firms	firm	NOUN
emaj-348	115	31	in	in	ADP
emaj-348	115	32	nigeria	nigeria	PROPN
emaj-348	115	33	leading	lead	VERB
emaj-348	115	34	to	to	ADP
emaj-348	115	35	700	700	NUM
emaj-348	115	36	observations	observation	NOUN
emaj-348	115	37	as	as	SCONJ
emaj-348	115	38	shown	show	VERB
emaj-348	115	39	in	in	ADP
emaj-348	115	40	table	table	NOUN
emaj-348	115	41	1	1	NUM
emaj-348	115	42	below	below	ADV
emaj-348	115	43	.	.	PUNCT
emaj-348	116	1	table	table	NOUN
emaj-348	116	2	1	1	NUM
emaj-348	116	3	:	:	PUNCT
emaj-348	116	4	sample	sample	NOUN
emaj-348	116	5	selection	selection	NOUN
emaj-348	116	6	criteria	criterion	NOUN
emaj-348	116	7	number	number	NOUN
emaj-348	116	8	number	number	NOUN
emaj-348	116	9	of	of	ADP
emaj-348	116	10	listed	list	VERB
emaj-348	116	11	firms	firm	NOUN
emaj-348	116	12	156	156	NUM
emaj-348	116	13	financial	financial	ADJ
emaj-348	116	14	firms	firm	NOUN
emaj-348	116	15	(	(	PUNCT
emaj-348	116	16	49	49	NUM
emaj-348	116	17	)	)	PUNCT
emaj-348	116	18	firms	firm	NOUN
emaj-348	116	19	that	that	PRON
emaj-348	116	20	joined	join	VERB
emaj-348	116	21	after	after	ADP
emaj-348	116	22	2012	2012	NUM
emaj-348	116	23	(	(	PUNCT
emaj-348	116	24	28	28	NUM
emaj-348	116	25	)	)	PUNCT
emaj-348	116	26	firms	firm	NOUN
emaj-348	116	27	without	without	ADP
emaj-348	116	28	information	information	NOUN
emaj-348	116	29	for	for	ADP
emaj-348	116	30	the	the	DET
emaj-348	116	31	study	study	NOUN
emaj-348	116	32	(	(	PUNCT
emaj-348	116	33	9	9	X
emaj-348	116	34	)	)	PUNCT
emaj-348	116	35	final	final	ADJ
emaj-348	116	36	sample	sample	NOUN
emaj-348	116	37	70	70	NUM
emaj-348	116	38	source	source	NOUN
emaj-348	116	39	:	:	PUNCT
emaj-348	116	40	authors	author	NOUN
emaj-348	116	41	’	’	PART
emaj-348	116	42	compilation	compilation	NOUN
emaj-348	116	43	dependent	dependent	ADJ
emaj-348	116	44	variable	variable	NOUN
emaj-348	116	45	we	we	PRON
emaj-348	116	46	express	express	VERB
emaj-348	116	47	firm	firm	ADJ
emaj-348	116	48	performance	performance	NOUN
emaj-348	116	49	in	in	ADP
emaj-348	116	50	terms	term	NOUN
emaj-348	116	51	of	of	ADP
emaj-348	116	52	accounting	accounting	NOUN
emaj-348	116	53	performance	performance	NOUN
emaj-348	116	54	and	and	CCONJ
emaj-348	116	55	market	market	NOUN
emaj-348	116	56	performance	performance	NOUN
emaj-348	116	57	.	.	PUNCT
emaj-348	117	1	we	we	PRON
emaj-348	117	2	also	also	ADV
emaj-348	117	3	check	check	VERB
emaj-348	117	4	for	for	ADP
emaj-348	117	5	the	the	DET
emaj-348	117	6	robustness	robustness	NOUN
emaj-348	117	7	of	of	ADP
emaj-348	117	8	our	our	PRON
emaj-348	117	9	result	result	NOUN
emaj-348	117	10	to	to	ADP
emaj-348	117	11	other	other	ADJ
emaj-348	117	12	dimensions	dimension	NOUN
emaj-348	117	13	of	of	ADP
emaj-348	117	14	firm	firm	ADJ
emaj-348	117	15	performance	performance	NOUN
emaj-348	117	16	such	such	ADJ
emaj-348	117	17	as	as	ADP
emaj-348	117	18	value	value	NOUN
emaj-348	117	19	added	add	VERB
emaj-348	117	20	.	.	PUNCT
emaj-348	118	1	particularly	particularly	ADV
emaj-348	118	2	,	,	PUNCT
emaj-348	118	3	we	we	PRON
emaj-348	118	4	proxied	proxie	VERB
emaj-348	118	5	our	our	PRON
emaj-348	118	6	accounting	accounting	NOUN
emaj-348	118	7	performance	performance	NOUN
emaj-348	118	8	with	with	ADP
emaj-348	118	9	return	return	NOUN
emaj-348	118	10	on	on	ADP
emaj-348	118	11	asset	asset	NOUN
emaj-348	118	12	(	(	PUNCT
emaj-348	118	13	reta	reta	PROPN
emaj-348	118	14	)	)	PUNCT
emaj-348	118	15	following	follow	VERB
emaj-348	118	16	the	the	DET
emaj-348	118	17	studies	study	NOUN
emaj-348	118	18	of	of	ADP
emaj-348	118	19	mangudhla	mangudhla	NOUN
emaj-348	118	20	,	,	PUNCT
emaj-348	118	21	dodoo	dodoo	NOUN
emaj-348	118	22	and	and	CCONJ
emaj-348	118	23	kumi	kumi	PROPN
emaj-348	118	24	(	(	PUNCT
emaj-348	118	25	2023b	2023b	NUM
emaj-348	118	26	)	)	PUNCT
emaj-348	118	27	.	.	PUNCT
emaj-348	119	1	we	we	PRON
emaj-348	119	2	employed	employ	VERB
emaj-348	119	3	return	return	NOUN
emaj-348	119	4	on	on	ADP
emaj-348	119	5	asset	asset	NOUN
emaj-348	119	6	since	since	SCONJ
emaj-348	119	7	it	it	PRON
emaj-348	119	8	is	be	AUX
emaj-348	119	9	a	a	DET
emaj-348	119	10	direct	direct	ADJ
emaj-348	119	11	test	test	NOUN
emaj-348	119	12	of	of	ADP
emaj-348	119	13	the	the	DET
emaj-348	119	14	efficiency	efficiency	NOUN
emaj-348	119	15	of	of	ADP
emaj-348	119	16	management	management	NOUN
emaj-348	119	17	on	on	ADP
emaj-348	119	18	the	the	DET
emaj-348	119	19	use	use	NOUN
emaj-348	119	20	of	of	ADP
emaj-348	119	21	asset	asset	NOUN
emaj-348	119	22	to	to	PART
emaj-348	119	23	generate	generate	VERB
emaj-348	119	24	economic	economic	ADJ
emaj-348	119	25	benefits	benefit	NOUN
emaj-348	119	26	(	(	PUNCT
emaj-348	119	27	international	international	ADJ
emaj-348	119	28	accounting	accounting	NOUN
emaj-348	119	29	standards	standard	NOUN
emaj-348	119	30	ias	ia	VERB
emaj-348	119	31	1	1	NUM
emaj-348	119	32	)	)	PUNCT
emaj-348	119	33	.	.	PUNCT
emaj-348	120	1	furthermore	furthermore	ADV
emaj-348	120	2	,	,	PUNCT
emaj-348	120	3	we	we	PRON
emaj-348	120	4	measure	measure	VERB
emaj-348	120	5	the	the	DET
emaj-348	120	6	market	market	NOUN
emaj-348	120	7	performance	performance	NOUN
emaj-348	120	8	using	use	VERB
emaj-348	120	9	tobin	tobin	PROPN
emaj-348	120	10	q	q	PROPN
emaj-348	120	11	(	(	PUNCT
emaj-348	120	12	tobq	tobq	PROPN
emaj-348	120	13	)	)	PUNCT
emaj-348	120	14	following	follow	VERB
emaj-348	120	15	the	the	DET
emaj-348	120	16	studies	study	NOUN
emaj-348	120	17	of	of	ADP
emaj-348	120	18	yang	yang	PROPN
emaj-348	120	19	and	and	CCONJ
emaj-348	120	20	gan	gan	PROPN
emaj-348	120	21	(	(	PUNCT
emaj-348	120	22	2021	2021	NUM
emaj-348	120	23	)	)	PUNCT
emaj-348	120	24	.	.	PUNCT
emaj-348	121	1	tobin	tobin	PROPN
emaj-348	121	2	q	q	PROPN
emaj-348	121	3	is	be	AUX
emaj-348	121	4	used	use	VERB
emaj-348	121	5	to	to	ADP
emaj-348	121	6	proxy	proxy	ADJ
emaj-348	121	7	market	market	NOUN
emaj-348	121	8	performance	performance	NOUN
emaj-348	121	9	since	since	SCONJ
emaj-348	121	10	it	it	PRON
emaj-348	121	11	considers	consider	VERB
emaj-348	121	12	the	the	DET
emaj-348	121	13	replacement	replacement	NOUN
emaj-348	121	14	value	value	NOUN
emaj-348	121	15	of	of	ADP
emaj-348	121	16	the	the	DET
emaj-348	121	17	firm	firm	NOUN
emaj-348	121	18	’s	’s	PART
emaj-348	121	19	net	net	ADJ
emaj-348	121	20	worth	worth	NOUN
emaj-348	121	21	.	.	PUNCT
emaj-348	122	1	our	our	PRON
emaj-348	122	2	multiple	multiple	ADJ
emaj-348	122	3	dimensions	dimension	NOUN
emaj-348	122	4	of	of	ADP
emaj-348	122	5	firm	firm	ADJ
emaj-348	122	6	performance	performance	NOUN
emaj-348	122	7	represent	represent	VERB
emaj-348	122	8	a	a	DET
emaj-348	122	9	more	more	ADV
emaj-348	122	10	comprehensive	comprehensive	ADJ
emaj-348	122	11	overview	overview	NOUN
emaj-348	122	12	of	of	ADP
emaj-348	122	13	firm	firm	ADJ
emaj-348	122	14	performance	performance	NOUN
emaj-348	122	15	in	in	ADP
emaj-348	122	16	relation	relation	NOUN
emaj-348	122	17	to	to	ADP
emaj-348	122	18	capital	capital	NOUN
emaj-348	122	19	structure	structure	NOUN
emaj-348	122	20	.	.	PUNCT
emaj-348	123	1	table	table	NOUN
emaj-348	123	2	2	2	NUM
emaj-348	123	3	shows	show	VERB
emaj-348	123	4	the	the	DET
emaj-348	123	5	measurement	measurement	NOUN
emaj-348	123	6	of	of	ADP
emaj-348	123	7	each	each	PRON
emaj-348	123	8	of	of	ADP
emaj-348	123	9	the	the	DET
emaj-348	123	10	variables	variable	NOUN
emaj-348	123	11	.	.	PUNCT
emaj-348	124	1	independent	independent	ADJ
emaj-348	124	2	variable	variable	NOUN
emaj-348	124	3	the	the	DET
emaj-348	124	4	independent	independent	ADJ
emaj-348	124	5	variable	variable	NOUN
emaj-348	124	6	of	of	ADP
emaj-348	124	7	this	this	DET
emaj-348	124	8	study	study	NOUN
emaj-348	124	9	is	be	AUX
emaj-348	124	10	capital	capital	NOUN
emaj-348	124	11	structure	structure	NOUN
emaj-348	124	12	.	.	PUNCT
emaj-348	125	1	capital	capital	NOUN
emaj-348	125	2	structure	structure	NOUN
emaj-348	125	3	involves	involve	VERB
emaj-348	125	4	the	the	DET
emaj-348	125	5	combination	combination	NOUN
emaj-348	125	6	of	of	ADP
emaj-348	125	7	debt	debt	NOUN
emaj-348	125	8	and	and	CCONJ
emaj-348	125	9	equity	equity	NOUN
emaj-348	125	10	that	that	PRON
emaj-348	125	11	a	a	DET
emaj-348	125	12	company	company	NOUN
emaj-348	125	13	employs	employ	VERB
emaj-348	125	14	to	to	PART
emaj-348	125	15	fund	fund	VERB
emaj-348	125	16	its	its	PRON
emaj-348	125	17	business	business	NOUN
emaj-348	125	18	activities	activity	NOUN
emaj-348	125	19	(	(	PUNCT
emaj-348	125	20	abdullah	abdullah	NOUN
emaj-348	125	21	and	and	CCONJ
emaj-348	125	22	tursoy	tursoy	ADJ
emaj-348	125	23	,	,	PUNCT
emaj-348	125	24	2021	2021	NUM
emaj-348	125	25	)	)	PUNCT
emaj-348	125	26	.	.	PUNCT
emaj-348	126	1	debt	debt	NOUN
emaj-348	126	2	ratio	ratio	NOUN
emaj-348	126	3	measured	measure	VERB
emaj-348	126	4	by	by	ADP
emaj-348	126	5	debt	debt	NOUN
emaj-348	126	6	to	to	ADP
emaj-348	126	7	asset	asset	NOUN
emaj-348	126	8	has	have	AUX
emaj-348	126	9	often	often	ADV
emaj-348	126	10	been	be	AUX
emaj-348	126	11	used	use	VERB
emaj-348	126	12	as	as	ADP
emaj-348	126	13	a	a	DET
emaj-348	126	14	metric	metric	NOUN
emaj-348	126	15	to	to	PART
emaj-348	126	16	indicate	indicate	VERB
emaj-348	126	17	the	the	DET
emaj-348	126	18	capital	capital	NOUN
emaj-348	126	19	structure	structure	NOUN
emaj-348	126	20	of	of	ADP
emaj-348	126	21	a	a	DET
emaj-348	126	22	firm	firm	NOUN
emaj-348	126	23	.	.	PUNCT
emaj-348	127	1	however	however	ADV
emaj-348	127	2	,	,	PUNCT
emaj-348	127	3	extant	extant	ADJ
emaj-348	127	4	literature	literature	NOUN
emaj-348	127	5	has	have	AUX
emaj-348	127	6	proposed	propose	VERB
emaj-348	127	7	alternative	alternative	ADJ
emaj-348	127	8	formulas	formula	NOUN
emaj-348	127	9	for	for	ADP
emaj-348	127	10	assessing	assess	VERB
emaj-348	127	11	the	the	DET
emaj-348	127	12	debt	debt	NOUN
emaj-348	127	13	ratio	ratio	NOUN
emaj-348	127	14	,	,	PUNCT
emaj-348	127	15	including	include	VERB
emaj-348	127	16	total	total	ADJ
emaj-348	127	17	liabilities	liability	NOUN
emaj-348	127	18	over	over	ADP
emaj-348	127	19	total	total	ADJ
emaj-348	127	20	assets	asset	NOUN
emaj-348	127	21	(	(	PUNCT
emaj-348	127	22	zhang	zhang	X
emaj-348	127	23	et	et	PROPN
emaj-348	127	24	al	al	PROPN
emaj-348	127	25	.	.	PROPN
emaj-348	127	26	,	,	PUNCT
emaj-348	127	27	2022	2022	NUM
emaj-348	127	28	)	)	PUNCT
emaj-348	127	29	and	and	CCONJ
emaj-348	127	30	long	long	ADJ
emaj-348	127	31	-	-	PUNCT
emaj-348	127	32	term	term	NOUN
emaj-348	127	33	debt	debt	NOUN
emaj-348	127	34	over	over	ADP
emaj-348	127	35	total	total	ADJ
emaj-348	127	36	assets	asset	NOUN
emaj-348	127	37	(	(	PUNCT
emaj-348	127	38	mavruk	mavruk	NOUN
emaj-348	127	39	and	and	CCONJ
emaj-348	127	40	sjögren	sjögren	NOUN
emaj-348	127	41	,	,	PUNCT
emaj-348	127	42	2021	2021	NUM
emaj-348	127	43	)	)	PUNCT
emaj-348	127	44	.	.	PUNCT
emaj-348	128	1	however	however	ADV
emaj-348	128	2	,	,	PUNCT
emaj-348	128	3	we	we	PRON
emaj-348	128	4	opined	opine	VERB
emaj-348	128	5	that	that	SCONJ
emaj-348	128	6	relying	rely	VERB
emaj-348	128	7	on	on	ADP
emaj-348	128	8	a	a	DET
emaj-348	128	9	single	single	ADJ
emaj-348	128	10	metric	metric	NOUN
emaj-348	128	11	or	or	CCONJ
emaj-348	128	12	characteristic	characteristic	ADJ
emaj-348	128	13	to	to	PART
emaj-348	128	14	evaluate	evaluate	VERB
emaj-348	128	15	the	the	DET
emaj-348	128	16	capital	capital	NOUN
emaj-348	128	17	structure	structure	NOUN
emaj-348	128	18	of	of	ADP
emaj-348	128	19	a	a	DET
emaj-348	128	20	firm	firm	NOUN
emaj-348	128	21	is	be	AUX
emaj-348	128	22	inadequate	inadequate	ADJ
emaj-348	128	23	.	.	PUNCT
emaj-348	129	1	one	one	NUM
emaj-348	129	2	dimension	dimension	NOUN
emaj-348	129	3	measure	measure	NOUN
emaj-348	129	4	of	of	ADP
emaj-348	129	5	capital	capital	NOUN
emaj-348	129	6	structure	structure	NOUN
emaj-348	129	7	has	have	VERB
emaj-348	129	8	the	the	DET
emaj-348	129	9	potential	potential	NOUN
emaj-348	129	10	to	to	PART
emaj-348	129	11	result	result	VERB
emaj-348	129	12	in	in	ADP
emaj-348	129	13	erroneous	erroneous	ADJ
emaj-348	129	14	inferences	inference	NOUN
emaj-348	129	15	regarding	regard	VERB
emaj-348	129	16	a	a	DET
emaj-348	129	17	firm	firm	NOUN
emaj-348	129	18	's	's	PART
emaj-348	129	19	capital	capital	NOUN
emaj-348	129	20	structure	structure	NOUN
emaj-348	129	21	(	(	PUNCT
emaj-348	129	22	kumar	kumar	PROPN
emaj-348	129	23	,	,	PUNCT
emaj-348	129	24	sureka	sureka	NOUN
emaj-348	129	25	and	and	CCONJ
emaj-348	129	26	colombage	colombage	NOUN
emaj-348	129	27	,	,	PUNCT
emaj-348	129	28	2020	2020	NUM
emaj-348	129	29	)	)	PUNCT
emaj-348	129	30	.	.	PUNCT
emaj-348	130	1	hence	hence	ADV
emaj-348	130	2	,	,	PUNCT
emaj-348	130	3	in	in	ADP
emaj-348	130	4	this	this	DET
emaj-348	130	5	study	study	NOUN
emaj-348	130	6	,	,	PUNCT
emaj-348	130	7	we	we	PRON
emaj-348	130	8	measure	measure	VERB
emaj-348	130	9	capital	capital	NOUN
emaj-348	130	10	structure	structure	NOUN
emaj-348	130	11	in	in	ADP
emaj-348	130	12	terms	term	NOUN
emaj-348	130	13	of	of	ADP
emaj-348	130	14	equity	equity	NOUN
emaj-348	130	15	to	to	ADP
emaj-348	130	16	asset	asset	NOUN
emaj-348	130	17	ratio	ratio	NOUN
emaj-348	130	18	(	(	PUNCT
emaj-348	130	19	eqta	eqta	NOUN
emaj-348	130	20	)	)	PUNCT
emaj-348	130	21	,	,	PUNCT
emaj-348	130	22	debt	debt	NOUN
emaj-348	130	23	to	to	ADP
emaj-348	130	24	asset	asset	NOUN
emaj-348	130	25	ratio	ratio	NOUN
emaj-348	130	26	(	(	PUNCT
emaj-348	130	27	deta	deta	NOUN
emaj-348	130	28	)	)	PUNCT
emaj-348	130	29	,	,	PUNCT
emaj-348	130	30	and	and	CCONJ
emaj-348	130	31	debt	debt	NOUN
emaj-348	130	32	to	to	ADP
emaj-348	130	33	equity	equity	NOUN
emaj-348	130	34	ratio	ratio	NOUN
emaj-348	130	35	(	(	PUNCT
emaj-348	130	36	dete	dete	ADJ
emaj-348	130	37	)	)	PUNCT
emaj-348	130	38	following	follow	VERB
emaj-348	130	39	the	the	DET
emaj-348	130	40	studies	study	NOUN
emaj-348	130	41	of	of	ADP
emaj-348	130	42	kumar	kumar	PROPN
emaj-348	130	43	,	,	PUNCT
emaj-348	130	44	sureka	sureka	NOUN
emaj-348	130	45	and	and	CCONJ
emaj-348	130	46	colombage	colombage	NOUN
emaj-348	130	47	,	,	PUNCT
emaj-348	130	48	(	(	PUNCT
emaj-348	130	49	2020	2020	NUM
emaj-348	130	50	)	)	PUNCT
emaj-348	130	51	;	;	PUNCT
emaj-348	130	52	rani	rani	NOUN
emaj-348	130	53	,	,	PUNCT
emaj-348	130	54	yadav	yadav	NOUN
emaj-348	130	55	and	and	CCONJ
emaj-348	130	56	tripathy	tripathy	ADJ
emaj-348	130	57	,	,	PUNCT
emaj-348	130	58	(	(	PUNCT
emaj-348	130	59	2020b	2020b	NUM
emaj-348	130	60	)	)	PUNCT
emaj-348	130	61	;	;	PUNCT
emaj-348	130	62	ayalew	ayalew	NOUN
emaj-348	130	63	,	,	PUNCT
emaj-348	130	64	(	(	PUNCT
emaj-348	130	65	2021	2021	NUM
emaj-348	130	66	)	)	PUNCT
emaj-348	130	67	.	.	PUNCT
emaj-348	131	1	furthermore	furthermore	ADV
emaj-348	131	2	,	,	PUNCT
emaj-348	131	3	as	as	ADP
emaj-348	131	4	an	an	DET
emaj-348	131	5	extension	extension	NOUN
emaj-348	131	6	of	of	ADP
emaj-348	131	7	prior	prior	ADJ
emaj-348	131	8	studies	study	NOUN
emaj-348	131	9	on	on	ADP
emaj-348	131	10	capital	capital	NOUN
emaj-348	131	11	structure	structure	NOUN
emaj-348	131	12	and	and	CCONJ
emaj-348	131	13	profitability	profitability	NOUN
emaj-348	131	14	nexus	nexus	NOUN
emaj-348	131	15	,	,	PUNCT
emaj-348	131	16	we	we	PRON
emaj-348	131	17	introduce	introduce	VERB
emaj-348	131	18	female	female	ADJ
emaj-348	131	19	board	board	NOUN
emaj-348	131	20	director	director	NOUN
emaj-348	131	21	presence	presence	NOUN
emaj-348	131	22	(	(	PUNCT
emaj-348	131	23	fbdp	fbdp	PROPN
emaj-348	131	24	)	)	PUNCT
emaj-348	131	25	as	as	ADP
emaj-348	131	26	an	an	DET
emaj-348	131	27	interaction	interaction	NOUN
emaj-348	131	28	term	term	NOUN
emaj-348	131	29	.	.	PUNCT
emaj-348	132	1	we	we	PRON
emaj-348	132	2	asserted	assert	VERB
emaj-348	132	3	that	that	SCONJ
emaj-348	132	4	if	if	SCONJ
emaj-348	132	5	women	woman	NOUN
emaj-348	132	6	's	's	PART
emaj-348	132	7	representation	representation	NOUN
emaj-348	132	8	on	on	ADP
emaj-348	132	9	corporate	corporate	ADJ
emaj-348	132	10	boards	board	NOUN
emaj-348	132	11	is	be	AUX
emaj-348	132	12	impactful	impactful	ADJ
emaj-348	132	13	and	and	CCONJ
emaj-348	132	14	genuine	genuine	ADJ
emaj-348	132	15	behavioral	behavioral	ADJ
emaj-348	132	16	differences	difference	NOUN
emaj-348	132	17	between	between	ADP
emaj-348	132	18	genders	gender	NOUN
emaj-348	132	19	exist	exist	VERB
emaj-348	132	20	,	,	PUNCT
emaj-348	132	21	these	these	DET
emaj-348	132	22	elements	element	NOUN
emaj-348	132	23	should	should	AUX
emaj-348	132	24	affect	affect	VERB
emaj-348	132	25	financial	financial	ADJ
emaj-348	132	26	decisions	decision	NOUN
emaj-348	132	27	and	and	CCONJ
emaj-348	132	28	,	,	PUNCT
emaj-348	132	29	ultimately	ultimately	ADV
emaj-348	132	30	,	,	PUNCT
emaj-348	132	31	organizational	organizational	ADJ
emaj-348	132	32	performance	performance	NOUN
emaj-348	132	33	.	.	PUNCT
emaj-348	133	1	specifically	specifically	ADV
emaj-348	133	2	,	,	PUNCT
emaj-348	133	3	we	we	PRON
emaj-348	133	4	measure	measure	VERB
emaj-348	133	5	female	female	ADJ
emaj-348	133	6	board	board	NOUN
emaj-348	133	7	directors	director	NOUN
emaj-348	133	8	’	’	PART
emaj-348	133	9	presence	presence	NOUN
emaj-348	133	10	as	as	ADP
emaj-348	133	11	a	a	DET
emaj-348	133	12	dichotomous	dichotomous	ADJ
emaj-348	133	13	variable	variable	NOUN
emaj-348	133	14	of	of	ADP
emaj-348	133	15	“	"	PUNCT
emaj-348	133	16	1	1	NUM
emaj-348	133	17	”	"	PUNCT
emaj-348	133	18	if	if	SCONJ
emaj-348	133	19	there	there	PRON
emaj-348	133	20	is	be	VERB
emaj-348	133	21	a	a	DET
emaj-348	133	22	female	female	ADJ
emaj-348	133	23	director	director	NOUN
emaj-348	133	24	on	on	ADP
emaj-348	133	25	the	the	DET
emaj-348	133	26	board	board	NOUN
emaj-348	133	27	of	of	ADP
emaj-348	133	28	directors	director	NOUN
emaj-348	133	29	of	of	ADP
emaj-348	133	30	the	the	DET
emaj-348	133	31	firms	firm	NOUN
emaj-348	133	32	under	under	ADP
emaj-348	133	33	study	study	NOUN
emaj-348	133	34	and	and	CCONJ
emaj-348	133	35	“	"	PUNCT
emaj-348	133	36	0	0	NUM
emaj-348	133	37	”	"	PUNCT
emaj-348	133	38	for	for	ADP
emaj-348	133	39	otherwise	otherwise	ADV
emaj-348	133	40	following	follow	VERB
emaj-348	133	41	the	the	DET
emaj-348	133	42	studies	study	NOUN
emaj-348	133	43	of	of	ADP
emaj-348	133	44	abdullah	abdullah	PROPN
emaj-348	133	45	,	,	PUNCT
emaj-348	133	46	(	(	PUNCT
emaj-348	133	47	2014	2014	NUM
emaj-348	133	48	)	)	PUNCT
emaj-348	133	49	,	,	PUNCT
emaj-348	133	50	grosvold	grosvold	ADJ
emaj-348	133	51	,	,	PUNCT
emaj-348	133	52	rayton	rayton	NOUN
emaj-348	133	53	and	and	CCONJ
emaj-348	133	54	brammer	brammer	NOUN
emaj-348	133	55	(	(	PUNCT
emaj-348	133	56	2016	2016	NUM
emaj-348	133	57	)	)	PUNCT
emaj-348	133	58	and	and	CCONJ
emaj-348	133	59	saeed	saeed	PROPN
emaj-348	133	60	et	et	PROPN
emaj-348	133	61	al	al	PROPN
emaj-348	133	62	(	(	PUNCT
emaj-348	133	63	2022	2022	NUM
emaj-348	133	64	)	)	PUNCT
emaj-348	133	65	.	.	PUNCT
emaj-348	134	1	control	control	NOUN
emaj-348	134	2	variables	variable	NOUN
emaj-348	134	3	based	base	VERB
emaj-348	134	4	on	on	ADP
emaj-348	134	5	earlier	early	ADJ
emaj-348	134	6	literature	literature	NOUN
emaj-348	134	7	on	on	ADP
emaj-348	134	8	capital	capital	NOUN
emaj-348	134	9	structure	structure	NOUN
emaj-348	134	10	and	and	CCONJ
emaj-348	134	11	performance	performance	NOUN
emaj-348	134	12	nexus	nexus	NOUN
emaj-348	134	13	,	,	PUNCT
emaj-348	134	14	we	we	PRON
emaj-348	134	15	employed	employ	VERB
emaj-348	134	16	various	various	ADJ
emaj-348	134	17	macroeconomic	macroeconomic	ADJ
emaj-348	134	18	and	and	CCONJ
emaj-348	134	19	firm	firm	ADJ
emaj-348	134	20	-	-	PUNCT
emaj-348	134	21	level	level	NOUN
emaj-348	134	22	attributes	attribute	NOUN
emaj-348	134	23	as	as	ADP
emaj-348	134	24	control	control	NOUN
emaj-348	134	25	variables	variable	NOUN
emaj-348	134	26	(	(	PUNCT
emaj-348	134	27	almaqtari	almaqtari	INTJ
emaj-348	134	28	et	et	PROPN
emaj-348	134	29	al	al	PROPN
emaj-348	134	30	.	.	PROPN
emaj-348	134	31	,	,	PUNCT
emaj-348	134	32	2021	2021	NUM
emaj-348	134	33	;	;	PUNCT
emaj-348	134	34	dinh	dinh	NOUN
emaj-348	134	35	,	,	PUNCT
emaj-348	134	36	nguyen	nguyen	NOUN
emaj-348	134	37	and	and	CCONJ
emaj-348	134	38	hosseini	hosseini	PROPN
emaj-348	134	39	,	,	PUNCT
emaj-348	134	40	2019	2019	NUM
emaj-348	134	41	;	;	PUNCT
emaj-348	134	42	mangudhla	mangudhla	NOUN
emaj-348	134	43	,	,	PUNCT
emaj-348	134	44	dodoo	dodoo	NOUN
emaj-348	134	45	and	and	CCONJ
emaj-348	134	46	kumi	kumi	PROPN
emaj-348	134	47	,	,	PUNCT
emaj-348	134	48	2023	2023	NUM
emaj-348	134	49	;	;	PUNCT
emaj-348	134	50	mehzabin	mehzabin	PROPN
emaj-348	134	51	et	et	PROPN
emaj-348	134	52	al	al	PROPN
emaj-348	134	53	.	.	PROPN
emaj-348	134	54	,	,	PUNCT
emaj-348	134	55	2023	2023	NUM
emaj-348	134	56	;	;	PUNCT
emaj-348	134	57	sdiq	sdiq	PROPN
emaj-348	134	58	and	and	CCONJ
emaj-348	134	59	abdullah	abdullah	PROPN
emaj-348	134	60	,	,	PUNCT
emaj-348	134	61	2022	2022	NUM
emaj-348	134	62	)	)	PUNCT
emaj-348	134	63	.	.	PUNCT
emaj-348	135	1	specifically	specifically	ADV
emaj-348	135	2	,	,	PUNCT
emaj-348	135	3	to	to	PART
emaj-348	135	4	stabilize	stabilize	VERB
emaj-348	135	5	the	the	DET
emaj-348	135	6	goodness	goodness	NOUN
emaj-348	135	7	of	of	ADP
emaj-348	135	8	fit	fit	NOUN
emaj-348	135	9	of	of	ADP
emaj-348	135	10	our	our	PRON
emaj-348	135	11	regression	regression	NOUN
emaj-348	135	12	estimates	estimate	NOUN
emaj-348	135	13	and	and	CCONJ
emaj-348	135	14	to	to	PART
emaj-348	135	15	isolate	isolate	VERB
emaj-348	135	16	the	the	DET
emaj-348	135	17	effect	effect	NOUN
emaj-348	135	18	of	of	ADP
emaj-348	135	19	capital	capital	NOUN
emaj-348	135	20	volume	volume	NOUN
emaj-348	135	21	14	14	NUM
emaj-348	135	22	no	no	DET
emaj-348	135	23	2	2	NUM
emaj-348	135	24	(	(	PUNCT
emaj-348	135	25	2024	2024	NUM
emaj-348	135	26	)	)	PUNCT
emaj-348	135	27	|	|	ADV
emaj-348	135	28	issn	issn	VERB
emaj-348	135	29	2158	2158	NUM
emaj-348	135	30	-	-	SYM
emaj-348	135	31	8708	8708	NUM
emaj-348	135	32	(	(	PUNCT
emaj-348	135	33	online	online	NOUN
emaj-348	135	34	)	)	PUNCT
emaj-348	135	35	|	|	ADV
emaj-348	135	36	doi	doi	X
emaj-348	135	37	10.5195	10.5195	NUM
emaj-348	135	38	/	/	SYM
emaj-348	135	39	emaj.2024.348	emaj.2024.348	PROPN
emaj-348	136	1	|	|	NOUN
emaj-348	136	2	http://emaj.pitt.edu	http://emaj.pitt.edu	VERB
emaj-348	136	3	female	female	ADJ
emaj-348	136	4	directors	director	NOUN
emaj-348	136	5	’	'	PUNCT
emaj-348	136	6	role	role	NOUN
emaj-348	136	7	on	on	ADP
emaj-348	136	8	capital	capital	NOUN
emaj-348	136	9	structure	structure	NOUN
emaj-348	136	10	and	and	CCONJ
emaj-348	136	11	firm	firm	ADJ
emaj-348	136	12	performance	performance	NOUN
emaj-348	136	13	nexus	nexus	NOUN
emaj-348	136	14	:	:	PUNCT
emaj-348	136	15	new	new	ADJ
emaj-348	136	16	evidence	evidence	NOUN
emaj-348	136	17	from	from	ADP
emaj-348	136	18	an	an	DET
emaj-348	136	19	emerging	emerge	VERB
emaj-348	136	20	market	market	NOUN
emaj-348	136	21	nigeria	nigeria	PROPN
emaj-348	136	22	page	page	NOUN
emaj-348	136	23	|38|	|38|	ADJ
emaj-348	136	24	emerging	emerge	VERB
emaj-348	136	25	markets	market	NOUN
emaj-348	136	26	journal	journal	NOUN
emaj-348	136	27	structure	structure	NOUN
emaj-348	136	28	on	on	ADP
emaj-348	136	29	firm	firm	ADJ
emaj-348	136	30	performance	performance	NOUN
emaj-348	136	31	,	,	PUNCT
emaj-348	136	32	we	we	PRON
emaj-348	136	33	control	control	VERB
emaj-348	136	34	our	our	PRON
emaj-348	136	35	model	model	NOUN
emaj-348	136	36	with	with	ADP
emaj-348	136	37	asset	asset	NOUN
emaj-348	136	38	growth	growth	NOUN
emaj-348	136	39	(	(	PUNCT
emaj-348	136	40	asgt	asgt	NOUN
emaj-348	136	41	)	)	PUNCT
emaj-348	136	42	,	,	PUNCT
emaj-348	136	43	asset	asset	NOUN
emaj-348	136	44	tangibility	tangibility	NOUN
emaj-348	136	45	(	(	PUNCT
emaj-348	136	46	asta	asta	PROPN
emaj-348	136	47	)	)	PUNCT
emaj-348	136	48	,	,	PUNCT
emaj-348	136	49	gdp	gdp	NOUN
emaj-348	136	50	growth	growth	NOUN
emaj-348	136	51	(	(	PUNCT
emaj-348	136	52	gdpg	gdpg	PROPN
emaj-348	136	53	)	)	PUNCT
emaj-348	136	54	,	,	PUNCT
emaj-348	136	55	credit	credit	NOUN
emaj-348	136	56	to	to	ADP
emaj-348	136	57	private	private	ADJ
emaj-348	136	58	sector	sector	NOUN
emaj-348	136	59	(	(	PUNCT
emaj-348	136	60	crps	crps	PROPN
emaj-348	136	61	)	)	PUNCT
emaj-348	136	62	,	,	PUNCT
emaj-348	136	63	firm	firm	ADJ
emaj-348	136	64	size	size	NOUN
emaj-348	136	65	(	(	PUNCT
emaj-348	136	66	fsiz	fsiz	PROPN
emaj-348	136	67	)	)	PUNCT
emaj-348	136	68	,	,	PUNCT
emaj-348	136	69	family	family	NOUN
emaj-348	136	70	ownership	ownership	NOUN
emaj-348	136	71	(	(	PUNCT
emaj-348	136	72	fown	fown	PROPN
emaj-348	136	73	)	)	PUNCT
emaj-348	136	74	,	,	PUNCT
emaj-348	136	75	and	and	CCONJ
emaj-348	136	76	market	market	NOUN
emaj-348	136	77	capitalization	capitalization	NOUN
emaj-348	136	78	(	(	PUNCT
emaj-348	136	79	mcap	mcap	NOUN
emaj-348	136	80	)	)	PUNCT
emaj-348	136	81	.	.	PUNCT
emaj-348	137	1	finally	finally	ADV
emaj-348	137	2	,	,	PUNCT
emaj-348	137	3	we	we	PRON
emaj-348	137	4	controlled	control	VERB
emaj-348	137	5	for	for	ADP
emaj-348	137	6	a	a	DET
emaj-348	137	7	year	year	NOUN
emaj-348	137	8	and	and	CCONJ
emaj-348	137	9	industry	industry	NOUN
emaj-348	137	10	fixed	fix	VERB
emaj-348	137	11	effects	effect	NOUN
emaj-348	137	12	.	.	PUNCT
emaj-348	138	1	these	these	DET
emaj-348	138	2	control	control	NOUN
emaj-348	138	3	variables	variable	NOUN
emaj-348	138	4	are	be	AUX
emaj-348	138	5	used	use	VERB
emaj-348	138	6	to	to	PART
emaj-348	138	7	isolate	isolate	VERB
emaj-348	138	8	the	the	DET
emaj-348	138	9	effects	effect	NOUN
emaj-348	138	10	of	of	ADP
emaj-348	138	11	other	other	ADJ
emaj-348	138	12	factors	factor	NOUN
emaj-348	138	13	that	that	PRON
emaj-348	138	14	have	have	VERB
emaj-348	138	15	a	a	DET
emaj-348	138	16	predictable	predictable	ADJ
emaj-348	138	17	influence	influence	NOUN
emaj-348	138	18	on	on	ADP
emaj-348	138	19	the	the	DET
emaj-348	138	20	different	different	ADJ
emaj-348	138	21	dimensions	dimension	NOUN
emaj-348	138	22	of	of	ADP
emaj-348	138	23	firm	firm	ADJ
emaj-348	138	24	performance	performance	NOUN
emaj-348	138	25	employed	employ	VERB
emaj-348	138	26	in	in	ADP
emaj-348	138	27	this	this	DET
emaj-348	138	28	study	study	NOUN
emaj-348	138	29	.	.	PUNCT
emaj-348	139	1	table	table	NOUN
emaj-348	139	2	2	2	NUM
emaj-348	139	3	:	:	PUNCT
emaj-348	139	4	variable	variable	ADJ
emaj-348	139	5	measurement	measurement	NOUN
emaj-348	139	6	variables	variable	VERB
emaj-348	139	7	measurements	measurement	NOUN
emaj-348	139	8	source	source	VERB
emaj-348	139	9	tobin	tobin	PROPN
emaj-348	139	10	q	q	PROPN
emaj-348	139	11	tobin	tobin	PROPN
emaj-348	139	12	q	q	PROPN
emaj-348	139	13	in	in	ADP
emaj-348	139	14	numbers	number	NOUN
emaj-348	139	15	is	be	AUX
emaj-348	139	16	computed	compute	VERB
emaj-348	139	17	as	as	ADP
emaj-348	139	18	market	market	NOUN
emaj-348	139	19	capitalization	capitalization	NOUN
emaj-348	139	20	+	+	CCONJ
emaj-348	139	21	total	total	ADJ
emaj-348	139	22	liabilities	liability	NOUN
emaj-348	139	23	cash	cash	NOUN
emaj-348	139	24	flow	flow	NOUN
emaj-348	139	25	divided	divide	VERB
emaj-348	139	26	by	by	ADP
emaj-348	139	27	total	total	ADJ
emaj-348	139	28	asset	asset	NOUN
emaj-348	139	29	annual	annual	ADJ
emaj-348	139	30	report	report	NOUN
emaj-348	139	31	return	return	NOUN
emaj-348	139	32	on	on	ADP
emaj-348	139	33	asset	asset	NOUN
emaj-348	139	34	return	return	NOUN
emaj-348	139	35	on	on	ADP
emaj-348	139	36	asset	asset	NOUN
emaj-348	139	37	in	in	ADP
emaj-348	139	38	percentage	percentage	NOUN
emaj-348	139	39	is	be	AUX
emaj-348	139	40	computed	compute	VERB
emaj-348	139	41	as	as	ADP
emaj-348	139	42	profit	profit	NOUN
emaj-348	139	43	after	after	SCONJ
emaj-348	139	44	tax	tax	NOUN
emaj-348	139	45	divided	divide	VERB
emaj-348	139	46	total	total	ADJ
emaj-348	139	47	asset	asset	NOUN
emaj-348	139	48	annual	annual	ADJ
emaj-348	139	49	report	report	NOUN
emaj-348	139	50	market	market	NOUN
emaj-348	139	51	value	value	NOUN
emaj-348	139	52	added	add	VERB
emaj-348	139	53	market	market	NOUN
emaj-348	139	54	value	value	NOUN
emaj-348	139	55	added	add	VERB
emaj-348	139	56	is	be	AUX
emaj-348	139	57	measured	measure	VERB
emaj-348	139	58	as	as	SCONJ
emaj-348	139	59	the	the	DET
emaj-348	139	60	difference	difference	NOUN
emaj-348	139	61	between	between	ADP
emaj-348	139	62	market	market	NOUN
emaj-348	139	63	capitalization	capitalization	NOUN
emaj-348	139	64	and	and	CCONJ
emaj-348	139	65	total	total	ADJ
emaj-348	139	66	equity	equity	NOUN
emaj-348	139	67	divided	divide	VERB
emaj-348	139	68	by	by	ADP
emaj-348	139	69	total	total	ADJ
emaj-348	139	70	asset	asset	NOUN
emaj-348	139	71	annual	annual	ADJ
emaj-348	139	72	report	report	NOUN
emaj-348	139	73	equity	equity	NOUN
emaj-348	139	74	to	to	ADP
emaj-348	139	75	asset	asset	NOUN
emaj-348	139	76	ratio	ratio	NOUN
emaj-348	139	77	equity	equity	NOUN
emaj-348	139	78	to	to	PART
emaj-348	139	79	total	total	VERB
emaj-348	139	80	asset	asset	NOUN
emaj-348	139	81	in	in	ADP
emaj-348	139	82	percentage	percentage	NOUN
emaj-348	139	83	is	be	AUX
emaj-348	139	84	computed	compute	VERB
emaj-348	139	85	as	as	SCONJ
emaj-348	139	86	total	total	ADJ
emaj-348	139	87	equity	equity	NOUN
emaj-348	139	88	divided	divide	VERB
emaj-348	139	89	by	by	ADP
emaj-348	139	90	total	total	ADJ
emaj-348	139	91	asset	asset	NOUN
emaj-348	139	92	annual	annual	ADJ
emaj-348	139	93	report	report	NOUN
emaj-348	139	94	debt	debt	NOUN
emaj-348	139	95	to	to	ADP
emaj-348	139	96	asset	asset	NOUN
emaj-348	139	97	ratio	ratio	NOUN
emaj-348	139	98	debt	debt	NOUN
emaj-348	139	99	to	to	ADP
emaj-348	139	100	total	total	ADJ
emaj-348	139	101	asset	asset	NOUN
emaj-348	139	102	in	in	ADP
emaj-348	139	103	percentage	percentage	NOUN
emaj-348	139	104	is	be	AUX
emaj-348	139	105	computed	compute	VERB
emaj-348	139	106	as	as	SCONJ
emaj-348	139	107	total	total	ADJ
emaj-348	139	108	liabilities	liability	NOUN
emaj-348	139	109	divided	divide	VERB
emaj-348	139	110	by	by	ADP
emaj-348	139	111	total	total	ADJ
emaj-348	139	112	asset	asset	NOUN
emaj-348	139	113	annual	annual	ADJ
emaj-348	139	114	report	report	NOUN
emaj-348	139	115	debt	debt	NOUN
emaj-348	139	116	to	to	ADP
emaj-348	139	117	equity	equity	NOUN
emaj-348	139	118	ratio	ratio	NOUN
emaj-348	139	119	debt	debt	NOUN
emaj-348	139	120	to	to	ADP
emaj-348	139	121	equity	equity	NOUN
emaj-348	139	122	in	in	ADP
emaj-348	139	123	percentage	percentage	NOUN
emaj-348	139	124	is	be	AUX
emaj-348	139	125	computed	compute	VERB
emaj-348	139	126	as	as	SCONJ
emaj-348	139	127	total	total	ADJ
emaj-348	139	128	liabilities	liability	NOUN
emaj-348	139	129	divided	divide	VERB
emaj-348	139	130	by	by	ADP
emaj-348	139	131	total	total	ADJ
emaj-348	139	132	equity	equity	NOUN
emaj-348	139	133	annual	annual	ADJ
emaj-348	139	134	report	report	NOUN
emaj-348	139	135	female	female	ADJ
emaj-348	139	136	board	board	NOUN
emaj-348	139	137	directors	director	NOUN
emaj-348	139	138	’	’	PART
emaj-348	139	139	presence	presence	NOUN
emaj-348	139	140	board	board	NOUN
emaj-348	139	141	female	female	ADJ
emaj-348	139	142	director	director	NOUN
emaj-348	139	143	presence	presence	NOUN
emaj-348	139	144	is	be	AUX
emaj-348	139	145	measured	measure	VERB
emaj-348	139	146	as	as	ADP
emaj-348	139	147	a	a	DET
emaj-348	139	148	dichotomous	dichotomous	ADJ
emaj-348	139	149	variable	variable	NOUN
emaj-348	139	150	of	of	ADP
emaj-348	139	151	“	"	PUNCT
emaj-348	139	152	1	1	NUM
emaj-348	139	153	”	"	PUNCT
emaj-348	139	154	if	if	SCONJ
emaj-348	139	155	there	there	PRON
emaj-348	139	156	is	be	VERB
emaj-348	139	157	a	a	DET
emaj-348	139	158	female	female	ADJ
emaj-348	139	159	director	director	NOUN
emaj-348	139	160	on	on	ADP
emaj-348	139	161	the	the	DET
emaj-348	139	162	board	board	NOUN
emaj-348	139	163	of	of	ADP
emaj-348	139	164	directors	director	NOUN
emaj-348	139	165	of	of	ADP
emaj-348	139	166	the	the	DET
emaj-348	139	167	firms	firm	NOUN
emaj-348	139	168	under	under	ADP
emaj-348	139	169	study	study	NOUN
emaj-348	139	170	and	and	CCONJ
emaj-348	139	171	“	"	PUNCT
emaj-348	139	172	0	0	NUM
emaj-348	139	173	”	"	PUNCT
emaj-348	139	174	for	for	ADP
emaj-348	139	175	otherwise	otherwise	ADV
emaj-348	139	176	annual	annual	ADJ
emaj-348	139	177	report	report	NOUN
emaj-348	139	178	asset	asset	NOUN
emaj-348	139	179	growth	growth	NOUN
emaj-348	139	180	total	total	NOUN
emaj-348	139	181	asset	asset	NOUN
emaj-348	139	182	growth	growth	NOUN
emaj-348	139	183	in	in	ADP
emaj-348	139	184	percentage	percentage	NOUN
emaj-348	139	185	is	be	AUX
emaj-348	139	186	computed	compute	VERB
emaj-348	139	187	as	as	ADP
emaj-348	139	188	current	current	ADJ
emaj-348	139	189	year	year	NOUN
emaj-348	139	190	total	total	NOUN
emaj-348	139	191	asset	asset	NOUN
emaj-348	139	192	minus	minus	CCONJ
emaj-348	139	193	previous	previous	ADJ
emaj-348	139	194	year	year	NOUN
emaj-348	139	195	total	total	NOUN
emaj-348	139	196	asset	asset	NOUN
emaj-348	139	197	divided	divide	VERB
emaj-348	139	198	by	by	ADP
emaj-348	139	199	previous	previous	ADJ
emaj-348	139	200	total	total	ADJ
emaj-348	139	201	asset	asset	NOUN
emaj-348	139	202	.	.	PUNCT
emaj-348	140	1	annual	annual	ADJ
emaj-348	140	2	report	report	NOUN
emaj-348	140	3	asset	asset	NOUN
emaj-348	140	4	tangibility	tangibility	NOUN
emaj-348	140	5	asset	asset	NOUN
emaj-348	140	6	tangibility	tangibility	NOUN
emaj-348	140	7	in	in	ADP
emaj-348	140	8	percentage	percentage	NOUN
emaj-348	140	9	is	be	AUX
emaj-348	140	10	computed	compute	VERB
emaj-348	140	11	as	as	SCONJ
emaj-348	140	12	fixed	fix	VERB
emaj-348	140	13	asset	asset	NOUN
emaj-348	140	14	or	or	CCONJ
emaj-348	140	15	ppe	ppe	NOUN
emaj-348	140	16	divided	divide	VERB
emaj-348	140	17	by	by	ADP
emaj-348	140	18	total	total	ADJ
emaj-348	140	19	assets	asset	NOUN
emaj-348	140	20	annual	annual	ADJ
emaj-348	140	21	report	report	NOUN
emaj-348	140	22	gdp	gdp	PROPN
emaj-348	140	23	growth	growth	PROPN
emaj-348	140	24	gdp	gdp	NOUN
emaj-348	140	25	growth	growth	NOUN
emaj-348	140	26	is	be	AUX
emaj-348	140	27	computed	compute	VERB
emaj-348	140	28	as	as	ADP
emaj-348	140	29	current	current	ADJ
emaj-348	140	30	year	year	NOUN
emaj-348	140	31	gdp	gdp	NOUN
emaj-348	140	32	minus	minus	ADP
emaj-348	140	33	previous	previous	ADJ
emaj-348	140	34	year	year	NOUN
emaj-348	140	35	gdp	gdp	NOUN
emaj-348	140	36	divided	divide	VERB
emaj-348	140	37	by	by	ADP
emaj-348	140	38	previous	previous	ADJ
emaj-348	140	39	gdp	gdp	NOUN
emaj-348	140	40	cbn	cbn	PROPN
emaj-348	140	41	bulletin	bulletin	NOUN
emaj-348	140	42	(	(	PUNCT
emaj-348	140	43	2022	2022	NUM
emaj-348	140	44	)	)	PUNCT
emaj-348	140	45	credit	credit	NOUN
emaj-348	140	46	to	to	ADP
emaj-348	140	47	private	private	ADJ
emaj-348	140	48	sector	sector	NOUN
emaj-348	140	49	cbn	cbn	PROPN
emaj-348	140	50	bulletin	bulletin	NOUN
emaj-348	140	51	(	(	PUNCT
emaj-348	140	52	2022	2022	NUM
emaj-348	140	53	)	)	PUNCT
emaj-348	140	54	firm	firm	ADJ
emaj-348	140	55	size	size	NOUN
emaj-348	140	56	firm	firm	NOUN
emaj-348	140	57	size	size	NOUN
emaj-348	140	58	is	be	AUX
emaj-348	140	59	measured	measure	VERB
emaj-348	140	60	as	as	SCONJ
emaj-348	140	61	the	the	DET
emaj-348	140	62	natural	natural	ADJ
emaj-348	140	63	logarithm	logarithm	NOUN
emaj-348	140	64	of	of	ADP
emaj-348	140	65	total	total	ADJ
emaj-348	140	66	asset	asset	NOUN
emaj-348	140	67	annual	annual	ADJ
emaj-348	140	68	report	report	NOUN
emaj-348	140	69	family	family	NOUN
emaj-348	140	70	ownership	ownership	NOUN
emaj-348	140	71	foreign	foreign	ADJ
emaj-348	140	72	institutional	institutional	ADJ
emaj-348	140	73	ownership	ownership	NOUN
emaj-348	140	74	in	in	ADP
emaj-348	140	75	dummy	dummy	NOUN
emaj-348	140	76	is	be	AUX
emaj-348	140	77	measured	measure	VERB
emaj-348	140	78	as	as	ADP
emaj-348	140	79	“	"	PUNCT
emaj-348	140	80	1	1	NUM
emaj-348	140	81	”	"	PUNCT
emaj-348	140	82	when	when	SCONJ
emaj-348	140	83	the	the	DET
emaj-348	140	84	shares	share	NOUN
emaj-348	140	85	ownership	ownership	NOUN
emaj-348	140	86	concentration	concentration	NOUN
emaj-348	140	87	of	of	ADP
emaj-348	140	88	all	all	DET
emaj-348	140	89	the	the	DET
emaj-348	140	90	block	block	NOUN
emaj-348	140	91	foreign	foreign	ADJ
emaj-348	140	92	institutional	institutional	ADJ
emaj-348	140	93	shareholders	shareholder	NOUN
emaj-348	140	94	is	be	AUX
emaj-348	140	95	5	5	NUM
emaj-348	140	96	%	%	NOUN
emaj-348	140	97	and	and	CCONJ
emaj-348	140	98	above	above	ADP
emaj-348	140	99	controlling	control	VERB
emaj-348	140	100	interest	interest	NOUN
emaj-348	140	101	and	and	CCONJ
emaj-348	140	102	“	"	PUNCT
emaj-348	140	103	0	0	NUM
emaj-348	140	104	”	"	PUNCT
emaj-348	140	105	otherwise	otherwise	ADV
emaj-348	140	106	annual	annual	ADJ
emaj-348	140	107	report	report	NOUN
emaj-348	140	108	market	market	NOUN
emaj-348	140	109	capitalization	capitalization	NOUN
emaj-348	140	110	market	market	NOUN
emaj-348	140	111	capitalization	capitalization	NOUN
emaj-348	140	112	is	be	AUX
emaj-348	140	113	measured	measure	VERB
emaj-348	140	114	as	as	ADP
emaj-348	140	115	the	the	DET
emaj-348	140	116	natural	natural	ADJ
emaj-348	140	117	logarithm	logarithm	NOUN
emaj-348	140	118	of	of	ADP
emaj-348	140	119	the	the	DET
emaj-348	140	120	multiplication	multiplication	NOUN
emaj-348	140	121	of	of	ADP
emaj-348	140	122	share	share	NOUN
emaj-348	140	123	price	price	NOUN
emaj-348	140	124	and	and	CCONJ
emaj-348	140	125	outstanding	outstanding	ADJ
emaj-348	140	126	shares	share	NOUN
emaj-348	140	127	.	.	PUNCT
emaj-348	141	1	annual	annual	ADJ
emaj-348	141	2	report	report	NOUN
emaj-348	141	3	source	source	NOUN
emaj-348	141	4	:	:	PUNCT
emaj-348	141	5	authors	author	NOUN
emaj-348	141	6	’	’	PART
emaj-348	141	7	compilation	compilation	NOUN
emaj-348	141	8	econometric	econometric	ADJ
emaj-348	141	9	models	model	NOUN
emaj-348	141	10	we	we	PRON
emaj-348	141	11	construct	construct	VERB
emaj-348	141	12	a	a	DET
emaj-348	141	13	sample	sample	NOUN
emaj-348	141	14	that	that	PRON
emaj-348	141	15	contains	contain	VERB
emaj-348	141	16	all	all	DET
emaj-348	141	17	the	the	DET
emaj-348	141	18	70	70	NUM
emaj-348	141	19	non	non	ADJ
emaj-348	141	20	-	-	ADJ
emaj-348	141	21	financial	financial	ADJ
emaj-348	141	22	firms	firm	NOUN
emaj-348	141	23	in	in	ADP
emaj-348	141	24	our	our	PRON
emaj-348	141	25	sample	sample	NOUN
emaj-348	141	26	size	size	NOUN
emaj-348	141	27	that	that	PRON
emaj-348	141	28	are	be	AUX
emaj-348	141	29	listed	list	VERB
emaj-348	141	30	in	in	ADP
emaj-348	141	31	nigeria	nigeria	PROPN
emaj-348	141	32	over	over	ADP
emaj-348	141	33	a	a	DET
emaj-348	141	34	10	10	NUM
emaj-348	141	35	-	-	PUNCT
emaj-348	141	36	year	year	NOUN
emaj-348	141	37	period	period	NOUN
emaj-348	141	38	from	from	ADP
emaj-348	141	39	2012	2012	NUM
emaj-348	141	40	to	to	ADP
emaj-348	141	41	2021	2021	NUM
emaj-348	141	42	,	,	PUNCT
emaj-348	141	43	thus	thus	ADV
emaj-348	141	44	yielding	yield	VERB
emaj-348	141	45	a	a	DET
emaj-348	141	46	balance	balance	NOUN
emaj-348	141	47	panel	panel	NOUN
emaj-348	141	48	of	of	ADP
emaj-348	141	49	700	700	NUM
emaj-348	141	50	observations	observation	NOUN
emaj-348	141	51	.	.	PUNCT
emaj-348	142	1	based	base	VERB
emaj-348	142	2	on	on	ADP
emaj-348	142	3	the	the	DET
emaj-348	142	4	foregoing	foregoing	NOUN
emaj-348	142	5	,	,	PUNCT
emaj-348	142	6	we	we	PRON
emaj-348	142	7	formulate	formulate	VERB
emaj-348	142	8	the	the	DET
emaj-348	142	9	following	follow	VERB
emaj-348	142	10	econometric	econometric	ADJ
emaj-348	142	11	models	model	NOUN
emaj-348	142	12	in	in	ADP
emaj-348	142	13	line	line	NOUN
emaj-348	142	14	with	with	ADP
emaj-348	142	15	theoretical	theoretical	ADJ
emaj-348	142	16	expositions	exposition	NOUN
emaj-348	142	17	.	.	PUNCT
emaj-348	143	1	𝑇𝑂𝐵𝑄𝑖𝑡	𝑇𝑂𝐵𝑄𝑖𝑡	NOUN
emaj-348	143	2	=	=	SYM
emaj-348	143	3	𝛽0	𝛽0	PROPN
emaj-348	143	4	+	+	CCONJ
emaj-348	143	5	𝛽1𝐸𝑄𝑇𝐴𝑖𝑡	𝛽1𝐸𝑄𝑇𝐴𝑖𝑡	PROPN
emaj-348	143	6	+	+	CCONJ
emaj-348	143	7	𝛽2𝐷𝐸𝑇𝐴𝑖𝑡	𝛽2𝐷𝐸𝑇𝐴𝑖𝑡	X
emaj-348	143	8	+	+	CCONJ
emaj-348	143	9	𝛽3𝐷𝐸𝑇𝐸𝑖𝑡	𝛽3𝐷𝐸𝑇𝐸𝑖𝑡	VERB
emaj-348	143	10	+	+	CCONJ
emaj-348	143	11	𝛽4𝐹𝐵𝐷𝑃𝑖𝑡	𝛽4𝐹𝐵𝐷𝑃𝑖𝑡	NOUN
emaj-348	143	12	+	+	NUM
emaj-348	143	13	𝛽5𝐴𝑆𝐺𝑇𝑖𝑡	𝛽5𝐴𝑆𝐺𝑇𝑖𝑡	NOUN
emaj-348	143	14	+	+	CCONJ
emaj-348	143	15	𝛽6𝐴𝑆𝑇𝐴𝑖𝑡	𝛽6𝐴𝑆𝑇𝐴𝑖𝑡	ADJ
emaj-348	143	16	+	+	CCONJ
emaj-348	143	17	𝛽7𝐺𝐷𝑃𝐺𝑖𝑡	𝛽7𝐺𝐷𝑃𝐺𝑖𝑡	NOUN
emaj-348	143	18	+	+	NUM
emaj-348	143	19	𝛽8𝐶𝑅𝑃𝑆𝑖𝑡	𝛽8𝐶𝑅𝑃𝑆𝑖𝑡	NOUN
emaj-348	143	20	+	+	NUM
emaj-348	143	21	𝛽9𝐹𝑆𝐼𝑍𝑖𝑡	𝛽9𝐹𝑆𝐼𝑍𝑖𝑡	NOUN
emaj-348	143	22	+	+	CCONJ
emaj-348	143	23	𝛽10𝐹𝑂𝑊𝑁𝑖𝑡	𝛽10𝐹𝑂𝑊𝑁𝑖𝑡	PROPN
emaj-348	143	24	+	+	CCONJ
emaj-348	143	25	𝛽11𝑀𝐶𝐴𝑃𝑖𝑡	𝛽11𝑀𝐶𝐴𝑃𝑖𝑡	PROPN
emaj-348	143	26	+	+	CCONJ
emaj-348	143	27	𝜇𝑖𝑡	𝜇𝑖𝑡	NOUN
emaj-348	143	28	…	…	PUNCT
emaj-348	143	29	…	…	PUNCT
emaj-348	143	30	(	(	PUNCT
emaj-348	143	31	3.1	3.1	NUM
emaj-348	143	32	)	)	PUNCT
emaj-348	143	33	𝑅𝐸𝑇𝐴𝑖𝑡	𝑅𝐸𝑇𝐴𝑖𝑡	NOUN
emaj-348	143	34	=	=	SYM
emaj-348	143	35	𝛽0	𝛽0	PROPN
emaj-348	143	36	+	+	CCONJ
emaj-348	143	37	𝛽1𝐸𝑄𝑇𝐴𝑖𝑡	𝛽1𝐸𝑄𝑇𝐴𝑖𝑡	PROPN
emaj-348	143	38	+	+	CCONJ
emaj-348	143	39	𝛽2𝐷𝐸𝑇𝐴𝑖𝑡	𝛽2𝐷𝐸𝑇𝐴𝑖𝑡	X
emaj-348	143	40	+	+	CCONJ
emaj-348	143	41	𝛽3𝐷𝐸𝑇𝐸𝑖𝑡	𝛽3𝐷𝐸𝑇𝐸𝑖𝑡	VERB
emaj-348	143	42	+	+	CCONJ
emaj-348	143	43	𝛽4𝐹𝐵𝐷𝑃𝑖𝑡	𝛽4𝐹𝐵𝐷𝑃𝑖𝑡	NOUN
emaj-348	143	44	+	+	NUM
emaj-348	143	45	𝛽5𝐴𝑆𝐺𝑇𝑖𝑡	𝛽5𝐴𝑆𝐺𝑇𝑖𝑡	NOUN
emaj-348	143	46	+	+	CCONJ
emaj-348	143	47	𝛽6𝐴𝑆𝑇𝐴𝑖𝑡	𝛽6𝐴𝑆𝑇𝐴𝑖𝑡	ADJ
emaj-348	143	48	+	+	CCONJ
emaj-348	143	49	𝛽7𝐺𝐷𝑃𝐺𝑖𝑡	𝛽7𝐺𝐷𝑃𝐺𝑖𝑡	NOUN
emaj-348	143	50	+	+	NUM
emaj-348	143	51	𝛽8𝐶𝑅𝑃𝑆𝑖𝑡	𝛽8𝐶𝑅𝑃𝑆𝑖𝑡	NOUN
emaj-348	143	52	+	+	NUM
emaj-348	143	53	𝛽9𝐹𝑆𝐼𝑍𝑖𝑡	𝛽9𝐹𝑆𝐼𝑍𝑖𝑡	NOUN
emaj-348	143	54	+	+	CCONJ
emaj-348	143	55	𝛽10𝐹𝑂𝑊𝑁𝑖𝑡	𝛽10𝐹𝑂𝑊𝑁𝑖𝑡	PROPN
emaj-348	143	56	+	+	CCONJ
emaj-348	143	57	𝛽11𝑀𝐶𝐴𝑃𝑖𝑡	𝛽11𝑀𝐶𝐴𝑃𝑖𝑡	PROPN
emaj-348	143	58	+	+	CCONJ
emaj-348	143	59	𝜇𝑖𝑡	𝜇𝑖𝑡	NOUN
emaj-348	143	60	…	…	PUNCT
emaj-348	143	61	…	…	PUNCT
emaj-348	143	62	(	(	PUNCT
emaj-348	143	63	3.2	3.2	NUM
emaj-348	143	64	)	)	PUNCT
emaj-348	143	65	volume	volume	NOUN
emaj-348	143	66	14	14	NUM
emaj-348	143	67	no	no	DET
emaj-348	143	68	2	2	NUM
emaj-348	143	69	(	(	PUNCT
emaj-348	143	70	2024	2024	NUM
emaj-348	143	71	)	)	PUNCT
emaj-348	143	72	|	|	ADV
emaj-348	143	73	issn	issn	VERB
emaj-348	143	74	2158	2158	NUM
emaj-348	143	75	-	-	SYM
emaj-348	143	76	8708	8708	NUM
emaj-348	143	77	(	(	PUNCT
emaj-348	143	78	online	online	NOUN
emaj-348	143	79	)	)	PUNCT
emaj-348	143	80	|	|	ADV
emaj-348	143	81	doi	doi	X
emaj-348	143	82	10.5195	10.5195	NUM
emaj-348	143	83	/	/	SYM
emaj-348	143	84	emaj.2024.348	emaj.2024.348	NOUN
emaj-348	143	85	|	|	NOUN
emaj-348	143	86	http://emaj.pitt.edu	http://emaj.pitt.edu	VERB
emaj-348	143	87	idorenyin	idorenyin	PROPN
emaj-348	143	88	okon	okon	PROPN
emaj-348	143	89	,	,	PUNCT
emaj-348	143	90	ozele	ozele	PROPN
emaj-348	143	91	clement	clement	PROPN
emaj-348	143	92	emerging	emerge	VERB
emaj-348	143	93	markets	market	NOUN
emaj-348	143	94	journal	journal	PROPN
emaj-348	143	95	page	page	NOUN
emaj-348	143	96	|39|	|39|	NOUN
emaj-348	143	97	equations	equation	NOUN
emaj-348	143	98	3.1	3.1	NUM
emaj-348	143	99	and	and	CCONJ
emaj-348	143	100	3.2	3.2	NUM
emaj-348	143	101	above	above	ADP
emaj-348	143	102	express	express	VERB
emaj-348	143	103	firm	firm	ADJ
emaj-348	143	104	performance	performance	NOUN
emaj-348	143	105	as	as	ADP
emaj-348	143	106	a	a	DET
emaj-348	143	107	function	function	NOUN
emaj-348	143	108	of	of	ADP
emaj-348	143	109	capital	capital	NOUN
emaj-348	143	110	structure	structure	NOUN
emaj-348	143	111	,	,	PUNCT
emaj-348	143	112	female	female	ADJ
emaj-348	143	113	board	board	NOUN
emaj-348	143	114	directors	director	NOUN
emaj-348	143	115	’	’	PART
emaj-348	143	116	presence	presence	NOUN
emaj-348	143	117	and	and	CCONJ
emaj-348	143	118	several	several	ADJ
emaj-348	143	119	control	control	NOUN
emaj-348	143	120	variables	variable	NOUN
emaj-348	143	121	employed	employ	VERB
emaj-348	143	122	in	in	ADP
emaj-348	143	123	this	this	DET
emaj-348	143	124	study	study	NOUN
emaj-348	143	125	.	.	PUNCT
emaj-348	144	1	𝑇𝑂𝐵𝑄𝑖𝑡	𝑇𝑂𝐵𝑄𝑖𝑡	NOUN
emaj-348	144	2	=	=	SYM
emaj-348	144	3	𝛽0	𝛽0	PROPN
emaj-348	144	4	+	+	CCONJ
emaj-348	144	5	𝛽1(𝐸𝑄𝑇𝐴	𝛽1(𝐸𝑄𝑇𝐴	ADP
emaj-348	144	6	×	×	NOUN
emaj-348	144	7	𝐹𝐵𝐷𝑃)𝑖𝑡	𝐹𝐵𝐷𝑃)𝑖𝑡	NOUN
emaj-348	144	8	+	+	CCONJ
emaj-348	144	9	𝛽2(𝐷𝐸𝑇𝐴	𝛽2(𝐷𝐸𝑇𝐴	NUM
emaj-348	144	10	×	×	NOUN
emaj-348	145	1	𝐹𝐵𝐷𝑃)𝑖𝑡	𝐹𝐵𝐷𝑃)𝑖𝑡	NOUN
emaj-348	145	2	+	+	CCONJ
emaj-348	145	3	𝛽3(𝐷𝐸𝑇𝐸	𝛽3(𝐷𝐸𝑇𝐸	CCONJ
emaj-348	145	4	×	×	NOUN
emaj-348	145	5	𝐹𝐵𝐷𝑃)𝑖𝑡	𝐹𝐵𝐷𝑃)𝑖𝑡	NOUN
emaj-348	145	6	+	+	CCONJ
emaj-348	145	7	𝛽4𝐴𝑆𝐺𝑇𝑖𝑡	𝛽4𝐴𝑆𝐺𝑇𝑖𝑡	NOUN
emaj-348	145	8	+	+	NUM
emaj-348	145	9	𝛽5𝐴𝑆𝑇𝐴𝑖𝑡	𝛽5𝐴𝑆𝑇𝐴𝑖𝑡	NOUN
emaj-348	145	10	+	+	CCONJ
emaj-348	145	11	𝛽6𝐺𝐷𝑃𝐺𝑖𝑡	𝛽6𝐺𝐷𝑃𝐺𝑖𝑡	NOUN
emaj-348	145	12	+	+	NUM
emaj-348	145	13	𝛽7𝐶𝑅𝑃𝑆𝑖𝑡	𝛽7𝐶𝑅𝑃𝑆𝑖𝑡	NOUN
emaj-348	145	14	+	+	NUM
emaj-348	145	15	𝛽8𝐹𝑆𝐼𝑍𝑖𝑡	𝛽8𝐹𝑆𝐼𝑍𝑖𝑡	NOUN
emaj-348	145	16	+	+	CCONJ
emaj-348	145	17	𝛽9𝐹𝑂𝑊𝑁𝑖𝑡	𝛽9𝐹𝑂𝑊𝑁𝑖𝑡	ADJ
emaj-348	145	18	+	+	CCONJ
emaj-348	145	19	𝛽10𝑀𝐶𝐴𝑃𝑖𝑡	𝛽10𝑀𝐶𝐴𝑃𝑖𝑡	PROPN
emaj-348	145	20	+	+	CCONJ
emaj-348	145	21	𝜇𝑖𝑡	𝜇𝑖𝑡	NOUN
emaj-348	145	22	…	…	PUNCT
emaj-348	145	23	…	…	PUNCT
emaj-348	145	24	(	(	PUNCT
emaj-348	145	25	3.3	3.3	NUM
emaj-348	145	26	)	)	PUNCT
emaj-348	145	27	𝑅𝐸𝑇𝐴𝑖𝑡	𝑅𝐸𝑇𝐴𝑖𝑡	NOUN
emaj-348	145	28	=	=	SYM
emaj-348	145	29	𝛽0	𝛽0	NOUN
emaj-348	145	30	+	+	CCONJ
emaj-348	145	31	𝛽1(𝐸𝑄𝑇𝐴	𝛽1(𝐸𝑄𝑇𝐴	ADP
emaj-348	145	32	×	×	NOUN
emaj-348	145	33	𝐹𝐵𝐷𝑃)𝑖𝑡	𝐹𝐵𝐷𝑃)𝑖𝑡	NOUN
emaj-348	145	34	+	+	CCONJ
emaj-348	145	35	𝛽2(𝐷𝐸𝑇𝐴	𝛽2(𝐷𝐸𝑇𝐴	NUM
emaj-348	145	36	×	×	NOUN
emaj-348	146	1	𝐹𝐵𝐷𝑃)𝑖𝑡	𝐹𝐵𝐷𝑃)𝑖𝑡	NOUN
emaj-348	146	2	+	+	CCONJ
emaj-348	146	3	𝛽3(𝐷𝐸𝑇𝐸	𝛽3(𝐷𝐸𝑇𝐸	CCONJ
emaj-348	146	4	×	×	NOUN
emaj-348	146	5	𝐹𝐵𝐷𝑃)𝑖𝑡	𝐹𝐵𝐷𝑃)𝑖𝑡	NOUN
emaj-348	146	6	+	+	CCONJ
emaj-348	146	7	𝛽4𝐴𝑆𝐺𝑇𝑖𝑡	𝛽4𝐴𝑆𝐺𝑇𝑖𝑡	NOUN
emaj-348	146	8	+	+	NUM
emaj-348	146	9	𝛽5𝐴𝑆𝑇𝐴𝑖𝑡	𝛽5𝐴𝑆𝑇𝐴𝑖𝑡	NOUN
emaj-348	146	10	+	+	CCONJ
emaj-348	146	11	𝛽6𝐺𝐷𝑃𝐺𝑖𝑡	𝛽6𝐺𝐷𝑃𝐺𝑖𝑡	NOUN
emaj-348	146	12	+	+	NUM
emaj-348	146	13	𝛽7𝐶𝑅𝑃𝑆𝑖𝑡	𝛽7𝐶𝑅𝑃𝑆𝑖𝑡	NOUN
emaj-348	146	14	+	+	NUM
emaj-348	146	15	𝛽8𝐹𝑆𝐼𝑍𝑖𝑡	𝛽8𝐹𝑆𝐼𝑍𝑖𝑡	NOUN
emaj-348	146	16	+	+	CCONJ
emaj-348	146	17	𝛽9𝐹𝑂𝑊𝑁𝑖𝑡	𝛽9𝐹𝑂𝑊𝑁𝑖𝑡	ADJ
emaj-348	146	18	+	+	CCONJ
emaj-348	146	19	𝛽10𝑀𝐶𝐴𝑃𝑖𝑡	𝛽10𝑀𝐶𝐴𝑃𝑖𝑡	PROPN
emaj-348	146	20	+	+	CCONJ
emaj-348	146	21	𝜇𝑖𝑡	𝜇𝑖𝑡	NOUN
emaj-348	146	22	…	…	PUNCT
emaj-348	146	23	…	…	PUNCT
emaj-348	146	24	(	(	PUNCT
emaj-348	146	25	3.4	3.4	NUM
emaj-348	146	26	)	)	PUNCT
emaj-348	146	27	equations	equation	NOUN
emaj-348	146	28	3.3	3.3	NUM
emaj-348	146	29	and	and	CCONJ
emaj-348	146	30	3.4	3.4	NUM
emaj-348	146	31	express	express	ADJ
emaj-348	146	32	firm	firm	ADJ
emaj-348	146	33	performance	performance	NOUN
emaj-348	146	34	as	as	ADP
emaj-348	146	35	a	a	DET
emaj-348	146	36	function	function	NOUN
emaj-348	146	37	of	of	ADP
emaj-348	146	38	the	the	DET
emaj-348	146	39	interaction	interaction	NOUN
emaj-348	146	40	effect	effect	NOUN
emaj-348	146	41	of	of	ADP
emaj-348	146	42	female	female	ADJ
emaj-348	146	43	board	board	NOUN
emaj-348	146	44	director	director	NOUN
emaj-348	146	45	presence	presence	NOUN
emaj-348	146	46	and	and	CCONJ
emaj-348	146	47	capital	capital	NOUN
emaj-348	146	48	structure	structure	NOUN
emaj-348	146	49	measures	measure	NOUN
emaj-348	146	50	employed	employ	VERB
emaj-348	146	51	in	in	ADP
emaj-348	146	52	this	this	DET
emaj-348	146	53	study	study	NOUN
emaj-348	146	54	.	.	PUNCT
emaj-348	147	1	these	these	DET
emaj-348	147	2	models	model	NOUN
emaj-348	147	3	are	be	AUX
emaj-348	147	4	an	an	DET
emaj-348	147	5	attempt	attempt	NOUN
emaj-348	147	6	to	to	PART
emaj-348	147	7	test	test	VERB
emaj-348	147	8	our	our	PRON
emaj-348	147	9	assumption	assumption	NOUN
emaj-348	147	10	that	that	SCONJ
emaj-348	147	11	if	if	SCONJ
emaj-348	147	12	the	the	DET
emaj-348	147	13	presence	presence	NOUN
emaj-348	147	14	of	of	ADP
emaj-348	147	15	women	woman	NOUN
emaj-348	147	16	on	on	ADP
emaj-348	147	17	boards	board	NOUN
emaj-348	147	18	is	be	AUX
emaj-348	147	19	effective	effective	ADJ
emaj-348	147	20	and	and	CCONJ
emaj-348	147	21	behavioral	behavioral	ADJ
emaj-348	147	22	differences	difference	NOUN
emaj-348	147	23	between	between	ADP
emaj-348	147	24	women	woman	NOUN
emaj-348	147	25	and	and	CCONJ
emaj-348	147	26	men	man	NOUN
emaj-348	147	27	truly	truly	ADV
emaj-348	147	28	exist	exist	VERB
emaj-348	147	29	,	,	PUNCT
emaj-348	147	30	then	then	ADV
emaj-348	147	31	these	these	DET
emaj-348	147	32	factors	factor	NOUN
emaj-348	147	33	should	should	AUX
emaj-348	147	34	influence	influence	VERB
emaj-348	147	35	capital	capital	NOUN
emaj-348	147	36	structure	structure	NOUN
emaj-348	147	37	financial	financial	ADJ
emaj-348	147	38	decisions	decision	NOUN
emaj-348	147	39	and	and	CCONJ
emaj-348	147	40	ultimately	ultimately	ADV
emaj-348	147	41	firm	firm	ADJ
emaj-348	147	42	performance	performance	NOUN
emaj-348	147	43	following	follow	VERB
emaj-348	147	44	the	the	DET
emaj-348	147	45	feminist	feminist	PROPN
emaj-348	147	46	theory	theory	NOUN
emaj-348	147	47	.	.	PUNCT
emaj-348	148	1	estimation	estimation	NOUN
emaj-348	148	2	method	method	NOUN
emaj-348	148	3	studies	study	NOUN
emaj-348	148	4	have	have	AUX
emaj-348	148	5	shown	show	VERB
emaj-348	148	6	that	that	SCONJ
emaj-348	148	7	capital	capital	NOUN
emaj-348	148	8	structure	structure	NOUN
emaj-348	148	9	and	and	CCONJ
emaj-348	148	10	performance	performance	NOUN
emaj-348	148	11	measures	measure	NOUN
emaj-348	148	12	are	be	AUX
emaj-348	148	13	endogenous	endogenous	ADJ
emaj-348	148	14	(	(	PUNCT
emaj-348	148	15	dao	dao	NOUN
emaj-348	148	16	and	and	CCONJ
emaj-348	148	17	ta	ta	NOUN
emaj-348	148	18	,	,	PUNCT
emaj-348	148	19	2020	2020	NUM
emaj-348	148	20	;	;	PUNCT
emaj-348	148	21	sadiq	sadiq	PROPN
emaj-348	148	22	et	et	PROPN
emaj-348	148	23	al	al	PROPN
emaj-348	148	24	.	.	PROPN
emaj-348	148	25	,	,	PUNCT
emaj-348	148	26	2023	2023	NUM
emaj-348	148	27	)	)	PUNCT
emaj-348	148	28	.	.	PUNCT
emaj-348	149	1	usually	usually	ADV
emaj-348	149	2	,	,	PUNCT
emaj-348	149	3	this	this	DET
emaj-348	149	4	problem	problem	NOUN
emaj-348	149	5	is	be	AUX
emaj-348	149	6	ignored	ignore	VERB
emaj-348	149	7	or	or	CCONJ
emaj-348	149	8	corrected	correct	VERB
emaj-348	149	9	using	use	VERB
emaj-348	149	10	fixed	fix	VERB
emaj-348	149	11	effects	effect	NOUN
emaj-348	149	12	or	or	CCONJ
emaj-348	149	13	instrumental	instrumental	ADJ
emaj-348	149	14	variables	variable	NOUN
emaj-348	149	15	.	.	PUNCT
emaj-348	150	1	in	in	ADP
emaj-348	150	2	lieu	lieu	NOUN
emaj-348	150	3	of	of	ADP
emaj-348	150	4	conventional	conventional	ADJ
emaj-348	150	5	methodologies	methodology	NOUN
emaj-348	150	6	,	,	PUNCT
emaj-348	150	7	we	we	PRON
emaj-348	150	8	implemented	implement	VERB
emaj-348	150	9	a	a	DET
emaj-348	150	10	sophisticated	sophisticated	ADJ
emaj-348	150	11	technique	technique	NOUN
emaj-348	150	12	of	of	ADP
emaj-348	150	13	panel	panel	NOUN
emaj-348	150	14	data	datum	NOUN
emaj-348	150	15	estimation	estimation	NOUN
emaj-348	150	16	by	by	ADP
emaj-348	150	17	means	mean	NOUN
emaj-348	150	18	of	of	ADP
emaj-348	150	19	the	the	DET
emaj-348	150	20	two	two	NUM
emaj-348	150	21	-	-	PUNCT
emaj-348	150	22	step	step	NOUN
emaj-348	150	23	system	system	NOUN
emaj-348	150	24	gmm	gmm	NOUN
emaj-348	150	25	with	with	ADP
emaj-348	150	26	robust	robust	ADJ
emaj-348	150	27	standard	standard	ADJ
emaj-348	150	28	errors	error	NOUN
emaj-348	150	29	.	.	PUNCT
emaj-348	151	1	the	the	DET
emaj-348	151	2	methodology	methodology	NOUN
emaj-348	151	3	employed	employ	VERB
emaj-348	151	4	in	in	ADP
emaj-348	151	5	this	this	DET
emaj-348	151	6	study	study	NOUN
emaj-348	151	7	addresses	address	VERB
emaj-348	151	8	various	various	ADJ
emaj-348	151	9	statistical	statistical	ADJ
emaj-348	151	10	concerns	concern	NOUN
emaj-348	151	11	,	,	PUNCT
emaj-348	151	12	including	include	VERB
emaj-348	151	13	the	the	DET
emaj-348	151	14	temporal	temporal	ADJ
emaj-348	151	15	correlation	correlation	NOUN
emaj-348	151	16	of	of	ADP
emaj-348	151	17	errors	error	NOUN
emaj-348	151	18	,	,	PUNCT
emaj-348	151	19	heteroscedasticity	heteroscedasticity	NOUN
emaj-348	151	20	across	across	ADP
emaj-348	151	21	firms	firm	NOUN
emaj-348	151	22	,	,	PUNCT
emaj-348	151	23	simultaneity	simultaneity	NOUN
emaj-348	151	24	,	,	PUNCT
emaj-348	151	25	and	and	CCONJ
emaj-348	151	26	measurement	measurement	NOUN
emaj-348	151	27	errors	error	NOUN
emaj-348	151	28	.	.	PUNCT
emaj-348	152	1	to	to	PART
emaj-348	152	2	mitigate	mitigate	VERB
emaj-348	152	3	the	the	DET
emaj-348	152	4	risk	risk	NOUN
emaj-348	152	5	of	of	ADP
emaj-348	152	6	producing	produce	VERB
emaj-348	152	7	significantly	significantly	ADV
emaj-348	152	8	biased	biased	ADJ
emaj-348	152	9	estimates	estimate	NOUN
emaj-348	152	10	,	,	PUNCT
emaj-348	152	11	orthogonal	orthogonal	ADJ
emaj-348	152	12	conditions	condition	NOUN
emaj-348	152	13	were	be	AUX
emaj-348	152	14	imposed	impose	VERB
emaj-348	152	15	on	on	ADP
emaj-348	152	16	the	the	DET
emaj-348	152	17	variance	variance	NOUN
emaj-348	152	18	-	-	PUNCT
emaj-348	152	19	covariance	covariance	NOUN
emaj-348	152	20	matrix	matrix	NOUN
emaj-348	152	21	,	,	PUNCT
emaj-348	152	22	as	as	SCONJ
emaj-348	152	23	recommended	recommend	VERB
emaj-348	152	24	by	by	ADP
emaj-348	152	25	(	(	PUNCT
emaj-348	152	26	arellano	arellano	PROPN
emaj-348	152	27	and	and	CCONJ
emaj-348	152	28	bond	bond	NOUN
emaj-348	152	29	,	,	PUNCT
emaj-348	152	30	1991	1991	NUM
emaj-348	152	31	)	)	PUNCT
emaj-348	152	32	.	.	PUNCT
emaj-348	153	1	in	in	ADP
emaj-348	153	2	order	order	NOUN
emaj-348	153	3	to	to	PART
emaj-348	153	4	assess	assess	VERB
emaj-348	153	5	the	the	DET
emaj-348	153	6	validity	validity	NOUN
emaj-348	153	7	of	of	ADP
emaj-348	153	8	our	our	PRON
emaj-348	153	9	instrumental	instrumental	ADJ
emaj-348	153	10	variables	variable	NOUN
emaj-348	153	11	and	and	CCONJ
emaj-348	153	12	the	the	DET
emaj-348	153	13	accuracy	accuracy	NOUN
emaj-348	153	14	of	of	ADP
emaj-348	153	15	our	our	PRON
emaj-348	153	16	model	model	NOUN
emaj-348	153	17	specification	specification	NOUN
emaj-348	153	18	,	,	PUNCT
emaj-348	153	19	we	we	PRON
emaj-348	153	20	employed	employ	VERB
emaj-348	153	21	the	the	DET
emaj-348	153	22	ar	ar	NOUN
emaj-348	153	23	(	(	PUNCT
emaj-348	153	24	1	1	NUM
emaj-348	153	25	)	)	PUNCT
emaj-348	153	26	and	and	CCONJ
emaj-348	153	27	ar	ar	PROPN
emaj-348	153	28	(	(	PUNCT
emaj-348	153	29	2	2	NUM
emaj-348	153	30	)	)	PUNCT
emaj-348	153	31	tests	test	NOUN
emaj-348	153	32	to	to	PART
emaj-348	153	33	detect	detect	VERB
emaj-348	153	34	firstand	firstand	NOUN
emaj-348	153	35	secondorder	secondorder	NOUN
emaj-348	153	36	serial	serial	ADJ
emaj-348	153	37	correlation	correlation	NOUN
emaj-348	153	38	.	.	PUNCT
emaj-348	154	1	as	as	ADP
emaj-348	154	2	per	per	ADP
emaj-348	154	3	the	the	DET
emaj-348	154	4	gmm	gmm	PROPN
emaj-348	154	5	approach	approach	NOUN
emaj-348	154	6	,	,	PUNCT
emaj-348	154	7	it	it	PRON
emaj-348	154	8	is	be	AUX
emaj-348	154	9	expected	expect	VERB
emaj-348	154	10	that	that	SCONJ
emaj-348	154	11	primary	primary	ADJ
emaj-348	154	12	correlation	correlation	NOUN
emaj-348	154	13	(	(	PUNCT
emaj-348	154	14	first	first	ADJ
emaj-348	154	15	order	order	NOUN
emaj-348	154	16	)	)	PUNCT
emaj-348	154	17	would	would	AUX
emaj-348	154	18	be	be	AUX
emaj-348	154	19	present	present	ADJ
emaj-348	154	20	while	while	SCONJ
emaj-348	154	21	secondary	secondary	ADJ
emaj-348	154	22	correlation	correlation	NOUN
emaj-348	154	23	(	(	PUNCT
emaj-348	154	24	second	second	ADJ
emaj-348	154	25	order	order	NOUN
emaj-348	154	26	)	)	PUNCT
emaj-348	154	27	would	would	AUX
emaj-348	154	28	not	not	PART
emaj-348	154	29	be	be	AUX
emaj-348	154	30	observed	observe	VERB
emaj-348	154	31	.	.	PUNCT
emaj-348	155	1	furthermore	furthermore	ADV
emaj-348	155	2	,	,	PUNCT
emaj-348	155	3	it	it	PRON
emaj-348	155	4	is	be	AUX
emaj-348	155	5	imperative	imperative	ADJ
emaj-348	155	6	that	that	SCONJ
emaj-348	155	7	the	the	DET
emaj-348	155	8	number	number	NOUN
emaj-348	155	9	of	of	ADP
emaj-348	155	10	instruments	instrument	NOUN
emaj-348	155	11	is	be	AUX
emaj-348	155	12	less	less	ADJ
emaj-348	155	13	than	than	ADP
emaj-348	155	14	the	the	DET
emaj-348	155	15	number	number	NOUN
emaj-348	155	16	of	of	ADP
emaj-348	155	17	groups	group	NOUN
emaj-348	155	18	.	.	PUNCT
emaj-348	156	1	subsequently	subsequently	ADV
emaj-348	156	2	,	,	PUNCT
emaj-348	156	3	the	the	DET
emaj-348	156	4	hansen	hansen	PROPN
emaj-348	156	5	test	test	NOUN
emaj-348	156	6	was	be	AUX
emaj-348	156	7	performed	perform	VERB
emaj-348	156	8	to	to	PART
emaj-348	156	9	evaluate	evaluate	VERB
emaj-348	156	10	the	the	DET
emaj-348	156	11	over	over	ADP
emaj-348	156	12	-	-	PUNCT
emaj-348	156	13	identification	identification	NOUN
emaj-348	156	14	restrictions	restriction	NOUN
emaj-348	156	15	.	.	PUNCT
emaj-348	157	1	we	we	PRON
emaj-348	157	2	followed	follow	VERB
emaj-348	157	3	the	the	DET
emaj-348	157	4	recommendations	recommendation	NOUN
emaj-348	157	5	of	of	ADP
emaj-348	157	6	roodman	roodman	NOUN
emaj-348	157	7	(	(	PUNCT
emaj-348	157	8	2009	2009	NUM
emaj-348	157	9	)	)	PUNCT
emaj-348	157	10	by	by	ADP
emaj-348	157	11	requiring	require	VERB
emaj-348	157	12	the	the	DET
emaj-348	157	13	result	result	NOUN
emaj-348	157	14	of	of	ADP
emaj-348	157	15	the	the	DET
emaj-348	157	16	hansen	hansen	PROPN
emaj-348	157	17	test	test	PROPN
emaj-348	157	18	to	to	PART
emaj-348	157	19	be	be	AUX
emaj-348	157	20	in	in	ADP
emaj-348	157	21	the	the	DET
emaj-348	157	22	range	range	NOUN
emaj-348	157	23	0.05	0.05	NUM
emaj-348	157	24	≤	≤	NOUN
emaj-348	158	1	p	p	NOUN
emaj-348	158	2	<	<	X
emaj-348	158	3	0.8	0.8	NUM
emaj-348	158	4	,	,	PUNCT
emaj-348	158	5	with	with	ADP
emaj-348	158	6	the	the	DET
emaj-348	158	7	optimal	optimal	ADJ
emaj-348	158	8	value	value	NOUN
emaj-348	158	9	lying	lie	VERB
emaj-348	158	10	in	in	ADP
emaj-348	158	11	the	the	DET
emaj-348	158	12	range	range	NOUN
emaj-348	159	1	0.1	0.1	NUM
emaj-348	159	2	≤	≤	NOUN
emaj-348	160	1	p	p	X
emaj-348	160	2	<	<	X
emaj-348	160	3	0.25	0.25	NUM
emaj-348	160	4	.	.	PUNCT
emaj-348	161	1	iv	iv	X
emaj-348	161	2	.	.	PUNCT
emaj-348	161	3	empirical	empirical	ADJ
emaj-348	161	4	results	result	NOUN
emaj-348	161	5	and	and	CCONJ
emaj-348	161	6	discussions	discussion	NOUN
emaj-348	161	7	descriptive	descriptive	ADJ
emaj-348	161	8	statistics	statistic	NOUN
emaj-348	161	9	the	the	DET
emaj-348	161	10	results	result	NOUN
emaj-348	161	11	from	from	ADP
emaj-348	161	12	table	table	NOUN
emaj-348	161	13	3	3	NUM
emaj-348	161	14	reveal	reveal	VERB
emaj-348	161	15	that	that	SCONJ
emaj-348	161	16	the	the	DET
emaj-348	161	17	mean	mean	NOUN
emaj-348	161	18	of	of	ADP
emaj-348	161	19	tobin	tobin	PROPN
emaj-348	161	20	q	q	PROPN
emaj-348	161	21	(	(	PUNCT
emaj-348	161	22	tobq	tobq	PROPN
emaj-348	161	23	)	)	PUNCT
emaj-348	161	24	is	be	AUX
emaj-348	161	25	1.39	1.39	NUM
emaj-348	161	26	,	,	PUNCT
emaj-348	161	27	with	with	ADP
emaj-348	161	28	a	a	DET
emaj-348	161	29	standard	standard	ADJ
emaj-348	161	30	deviation	deviation	NOUN
emaj-348	161	31	of	of	ADP
emaj-348	161	32	1.34	1.34	NUM
emaj-348	161	33	.	.	PUNCT
emaj-348	162	1	this	this	PRON
emaj-348	162	2	suggests	suggest	VERB
emaj-348	162	3	that	that	SCONJ
emaj-348	162	4	,	,	PUNCT
emaj-348	162	5	on	on	ADP
emaj-348	162	6	average	average	ADJ
emaj-348	162	7	,	,	PUNCT
emaj-348	162	8	the	the	DET
emaj-348	162	9	firms	firm	NOUN
emaj-348	162	10	included	include	VERB
emaj-348	162	11	in	in	ADP
emaj-348	162	12	the	the	DET
emaj-348	162	13	study	study	NOUN
emaj-348	162	14	had	have	VERB
emaj-348	162	15	a	a	DET
emaj-348	162	16	market	market	NOUN
emaj-348	162	17	value	value	NOUN
emaj-348	162	18	that	that	PRON
emaj-348	162	19	slightly	slightly	ADV
emaj-348	162	20	exceeded	exceed	VERB
emaj-348	162	21	their	their	PRON
emaj-348	162	22	replacement	replacement	NOUN
emaj-348	162	23	cost	cost	NOUN
emaj-348	162	24	,	,	PUNCT
emaj-348	162	25	indicating	indicate	VERB
emaj-348	162	26	reasonable	reasonable	ADJ
emaj-348	162	27	market	market	NOUN
emaj-348	162	28	expectations	expectation	NOUN
emaj-348	162	29	regarding	regard	VERB
emaj-348	162	30	future	future	ADJ
emaj-348	162	31	growth	growth	NOUN
emaj-348	162	32	and	and	CCONJ
emaj-348	162	33	profitability	profitability	NOUN
emaj-348	162	34	.	.	PUNCT
emaj-348	163	1	similarly	similarly	ADV
emaj-348	163	2	,	,	PUNCT
emaj-348	163	3	the	the	DET
emaj-348	163	4	mean	mean	ADJ
emaj-348	163	5	return	return	NOUN
emaj-348	163	6	on	on	ADP
emaj-348	163	7	assets	asset	NOUN
emaj-348	163	8	(	(	PUNCT
emaj-348	163	9	reta	reta	PROPN
emaj-348	163	10	)	)	PUNCT
emaj-348	163	11	is	be	AUX
emaj-348	163	12	reported	report	VERB
emaj-348	163	13	at	at	ADP
emaj-348	163	14	1.90	1.90	NUM
emaj-348	163	15	with	with	ADP
emaj-348	163	16	a	a	DET
emaj-348	163	17	standard	standard	ADJ
emaj-348	163	18	deviation	deviation	NOUN
emaj-348	163	19	of	of	ADP
emaj-348	163	20	17.23	17.23	NUM
emaj-348	163	21	,	,	PUNCT
emaj-348	163	22	implying	imply	VERB
emaj-348	163	23	that	that	SCONJ
emaj-348	163	24	while	while	SCONJ
emaj-348	163	25	the	the	DET
emaj-348	163	26	firms	firm	NOUN
emaj-348	163	27	were	be	AUX
emaj-348	163	28	generally	generally	ADV
emaj-348	163	29	profitable	profitable	ADJ
emaj-348	163	30	during	during	ADP
emaj-348	163	31	the	the	DET
emaj-348	163	32	period	period	NOUN
emaj-348	163	33	under	under	ADP
emaj-348	163	34	investigation	investigation	NOUN
emaj-348	163	35	,	,	PUNCT
emaj-348	163	36	there	there	PRON
emaj-348	163	37	was	be	VERB
emaj-348	163	38	significant	significant	ADJ
emaj-348	163	39	variability	variability	NOUN
emaj-348	163	40	in	in	ADP
emaj-348	163	41	their	their	PRON
emaj-348	163	42	returns	return	NOUN
emaj-348	163	43	,	,	PUNCT
emaj-348	163	44	potentially	potentially	ADV
emaj-348	163	45	reflecting	reflect	VERB
emaj-348	163	46	differences	difference	NOUN
emaj-348	163	47	in	in	ADP
emaj-348	163	48	management	management	NOUN
emaj-348	163	49	efficiency	efficiency	NOUN
emaj-348	163	50	or	or	CCONJ
emaj-348	163	51	industry	industry	NOUN
emaj-348	163	52	conditions	condition	NOUN
emaj-348	163	53	.	.	PUNCT
emaj-348	164	1	the	the	DET
emaj-348	164	2	market	market	NOUN
emaj-348	164	3	value	value	NOUN
emaj-348	164	4	added	add	VERB
emaj-348	164	5	(	(	PUNCT
emaj-348	164	6	mvad	mvad	NOUN
emaj-348	164	7	)	)	PUNCT
emaj-348	164	8	has	have	VERB
emaj-348	164	9	a	a	DET
emaj-348	164	10	mean	mean	NOUN
emaj-348	164	11	of	of	ADP
emaj-348	164	12	0.48	0.48	NUM
emaj-348	164	13	and	and	CCONJ
emaj-348	164	14	a	a	DET
emaj-348	164	15	standard	standard	ADJ
emaj-348	164	16	deviation	deviation	NOUN
emaj-348	164	17	of	of	ADP
emaj-348	164	18	1.35	1.35	NUM
emaj-348	164	19	,	,	PUNCT
emaj-348	164	20	which	which	PRON
emaj-348	164	21	suggests	suggest	VERB
emaj-348	164	22	that	that	SCONJ
emaj-348	164	23	,	,	PUNCT
emaj-348	164	24	on	on	ADP
emaj-348	164	25	average	average	ADJ
emaj-348	164	26	,	,	PUNCT
emaj-348	164	27	the	the	DET
emaj-348	164	28	firms	firm	NOUN
emaj-348	164	29	added	add	VERB
emaj-348	164	30	to	to	ADP
emaj-348	164	31	their	their	PRON
emaj-348	164	32	market	market	NOUN
emaj-348	164	33	value	value	NOUN
emaj-348	164	34	over	over	ADP
emaj-348	164	35	the	the	DET
emaj-348	164	36	period	period	NOUN
emaj-348	164	37	,	,	PUNCT
emaj-348	164	38	although	although	SCONJ
emaj-348	164	39	there	there	PRON
emaj-348	164	40	was	be	VERB
emaj-348	164	41	considerable	considerable	ADJ
emaj-348	164	42	variability	variability	NOUN
emaj-348	164	43	across	across	ADP
emaj-348	164	44	the	the	DET
emaj-348	164	45	sample	sample	NOUN
emaj-348	164	46	.	.	PUNCT
emaj-348	165	1	for	for	ADP
emaj-348	165	2	the	the	DET
emaj-348	165	3	independent	independent	ADJ
emaj-348	165	4	variables	variable	NOUN
emaj-348	165	5	,	,	PUNCT
emaj-348	165	6	the	the	DET
emaj-348	165	7	equity	equity	NOUN
emaj-348	165	8	to	to	ADP
emaj-348	165	9	asset	asset	NOUN
emaj-348	165	10	ratio	ratio	NOUN
emaj-348	165	11	(	(	PUNCT
emaj-348	165	12	eqta	eqta	NOUN
emaj-348	165	13	)	)	PUNCT
emaj-348	165	14	has	have	VERB
emaj-348	165	15	a	a	DET
emaj-348	165	16	mean	mean	NOUN
emaj-348	165	17	of	of	ADP
emaj-348	165	18	38.36	38.36	NUM
emaj-348	165	19	with	with	ADP
emaj-348	165	20	a	a	DET
emaj-348	165	21	standard	standard	ADJ
emaj-348	165	22	deviation	deviation	NOUN
emaj-348	165	23	of	of	ADP
emaj-348	165	24	37.27	37.27	NUM
emaj-348	165	25	,	,	PUNCT
emaj-348	165	26	indicating	indicate	VERB
emaj-348	165	27	that	that	SCONJ
emaj-348	165	28	,	,	PUNCT
emaj-348	165	29	on	on	ADP
emaj-348	165	30	average	average	ADJ
emaj-348	165	31	,	,	PUNCT
emaj-348	165	32	equity	equity	NOUN
emaj-348	165	33	constituted	constitute	VERB
emaj-348	165	34	about	about	ADV
emaj-348	165	35	38	38	NUM
emaj-348	165	36	%	%	NOUN
emaj-348	165	37	of	of	ADP
emaj-348	165	38	the	the	DET
emaj-348	165	39	total	total	ADJ
emaj-348	165	40	assets	asset	NOUN
emaj-348	165	41	,	,	PUNCT
emaj-348	165	42	but	but	CCONJ
emaj-348	165	43	with	with	ADP
emaj-348	165	44	wide	wide	ADJ
emaj-348	165	45	dispersion	dispersion	NOUN
emaj-348	165	46	,	,	PUNCT
emaj-348	165	47	suggesting	suggest	VERB
emaj-348	165	48	differing	differ	VERB
emaj-348	165	49	capital	capital	NOUN
emaj-348	165	50	structures	structure	NOUN
emaj-348	165	51	among	among	ADP
emaj-348	165	52	the	the	DET
emaj-348	165	53	firms	firm	NOUN
emaj-348	165	54	.	.	PUNCT
emaj-348	166	1	the	the	DET
emaj-348	166	2	debt	debt	NOUN
emaj-348	166	3	to	to	ADP
emaj-348	166	4	asset	asset	NOUN
emaj-348	166	5	ratio	ratio	NOUN
emaj-348	166	6	(	(	PUNCT
emaj-348	166	7	deta	deta	NOUN
emaj-348	166	8	)	)	PUNCT
emaj-348	166	9	is	be	AUX
emaj-348	166	10	also	also	ADV
emaj-348	166	11	noted	note	VERB
emaj-348	166	12	to	to	PART
emaj-348	166	13	have	have	VERB
emaj-348	166	14	a	a	DET
emaj-348	166	15	mean	mean	NOUN
emaj-348	166	16	of	of	ADP
emaj-348	166	17	63.70	63.70	NUM
emaj-348	166	18	with	with	ADP
emaj-348	166	19	a	a	DET
emaj-348	166	20	similar	similar	ADJ
emaj-348	166	21	standard	standard	ADJ
emaj-348	166	22	deviation	deviation	NOUN
emaj-348	166	23	of	of	ADP
emaj-348	166	24	63.70	63.70	NUM
emaj-348	166	25	,	,	PUNCT
emaj-348	166	26	emphasizing	emphasize	VERB
emaj-348	166	27	significant	significant	ADJ
emaj-348	166	28	variation	variation	NOUN
emaj-348	166	29	in	in	ADP
emaj-348	166	30	the	the	DET
emaj-348	166	31	use	use	NOUN
emaj-348	166	32	of	of	ADP
emaj-348	166	33	debt	debt	NOUN
emaj-348	166	34	financing	financing	NOUN
emaj-348	166	35	among	among	ADP
emaj-348	166	36	the	the	DET
emaj-348	166	37	firms	firm	NOUN
emaj-348	166	38	.	.	PUNCT
emaj-348	167	1	the	the	DET
emaj-348	167	2	debt	debt	NOUN
emaj-348	167	3	-	-	PUNCT
emaj-348	167	4	to	to	ADP
emaj-348	167	5	-	-	PUNCT
emaj-348	167	6	equity	equity	NOUN
emaj-348	167	7	ratio	ratio	NOUN
emaj-348	167	8	(	(	PUNCT
emaj-348	167	9	dete	dete	ADJ
emaj-348	167	10	)	)	PUNCT
emaj-348	167	11	has	have	VERB
emaj-348	167	12	a	a	DET
emaj-348	167	13	mean	mean	NOUN
emaj-348	167	14	of	of	ADP
emaj-348	167	15	2.83	2.83	NUM
emaj-348	167	16	with	with	ADP
emaj-348	167	17	a	a	DET
emaj-348	167	18	standard	standard	ADJ
emaj-348	167	19	deviation	deviation	NOUN
emaj-348	167	20	of	of	ADP
emaj-348	167	21	18.62	18.62	NUM
emaj-348	167	22	,	,	PUNCT
emaj-348	167	23	indicating	indicate	VERB
emaj-348	167	24	that	that	SCONJ
emaj-348	167	25	debt	debt	NOUN
emaj-348	167	26	represented	represent	VERB
emaj-348	167	27	about	about	ADV
emaj-348	167	28	2	2	NUM
emaj-348	167	29	%	%	NOUN
emaj-348	167	30	of	of	ADP
emaj-348	167	31	equity	equity	NOUN
emaj-348	167	32	on	on	ADP
emaj-348	167	33	average	average	ADJ
emaj-348	167	34	,	,	PUNCT
emaj-348	167	35	but	but	CCONJ
emaj-348	167	36	this	this	DET
emaj-348	167	37	measure	measure	NOUN
emaj-348	167	38	also	also	ADV
emaj-348	167	39	varies	vary	VERB
emaj-348	167	40	greatly	greatly	ADV
emaj-348	167	41	across	across	ADP
emaj-348	167	42	the	the	DET
emaj-348	167	43	sample	sample	NOUN
emaj-348	167	44	,	,	PUNCT
emaj-348	167	45	reflecting	reflect	VERB
emaj-348	167	46	diverse	diverse	ADJ
emaj-348	167	47	financial	financial	ADJ
emaj-348	167	48	leverage	leverage	NOUN
emaj-348	167	49	strategies	strategy	NOUN
emaj-348	167	50	.	.	PUNCT
emaj-348	168	1	the	the	DET
emaj-348	168	2	descriptive	descriptive	ADJ
emaj-348	168	3	statistics	statistic	NOUN
emaj-348	168	4	for	for	ADP
emaj-348	168	5	the	the	DET
emaj-348	168	6	foreign	foreign	PROPN
emaj-348	168	7	board	board	NOUN
emaj-348	168	8	member	member	NOUN
emaj-348	168	9	presence	presence	NOUN
emaj-348	168	10	(	(	PUNCT
emaj-348	168	11	fbmp	fbmp	NOUN
emaj-348	168	12	)	)	PUNCT
emaj-348	168	13	show	show	VERB
emaj-348	168	14	a	a	DET
emaj-348	168	15	mean	mean	NOUN
emaj-348	168	16	of	of	ADP
emaj-348	168	17	0.47	0.47	NUM
emaj-348	168	18	and	and	CCONJ
emaj-348	168	19	a	a	DET
emaj-348	168	20	standard	standard	ADJ
emaj-348	168	21	deviation	deviation	NOUN
emaj-348	168	22	of	of	ADP
emaj-348	168	23	0.67	0.67	NUM
emaj-348	168	24	,	,	PUNCT
emaj-348	168	25	implying	imply	VERB
emaj-348	168	26	that	that	SCONJ
emaj-348	168	27	about	about	ADV
emaj-348	168	28	47	47	NUM
emaj-348	168	29	%	%	NOUN
emaj-348	168	30	of	of	ADP
emaj-348	168	31	the	the	DET
emaj-348	168	32	firms	firm	NOUN
emaj-348	168	33	,	,	PUNCT
emaj-348	168	34	on	on	ADP
emaj-348	168	35	average	average	ADJ
emaj-348	168	36	,	,	PUNCT
emaj-348	168	37	had	have	VERB
emaj-348	168	38	at	at	ADV
emaj-348	168	39	least	least	ADV
emaj-348	168	40	one	one	NUM
emaj-348	168	41	female	female	ADJ
emaj-348	168	42	board	board	NOUN
emaj-348	168	43	member	member	NOUN
emaj-348	168	44	during	during	ADP
emaj-348	168	45	the	the	DET
emaj-348	168	46	period	period	NOUN
emaj-348	168	47	studied	study	VERB
emaj-348	168	48	.	.	PUNCT
emaj-348	169	1	this	this	PRON
emaj-348	169	2	reflects	reflect	VERB
emaj-348	169	3	a	a	DET
emaj-348	169	4	moderate	moderate	ADJ
emaj-348	169	5	level	level	NOUN
emaj-348	169	6	of	of	ADP
emaj-348	169	7	gender	gender	NOUN
emaj-348	169	8	diversity	diversity	NOUN
emaj-348	169	9	in	in	ADP
emaj-348	169	10	the	the	DET
emaj-348	169	11	boards	board	NOUN
emaj-348	169	12	of	of	ADP
emaj-348	169	13	these	these	DET
emaj-348	169	14	firms	firm	NOUN
emaj-348	169	15	.	.	PUNCT
emaj-348	170	1	regarding	regard	VERB
emaj-348	170	2	the	the	DET
emaj-348	170	3	control	control	NOUN
emaj-348	170	4	variables	variable	NOUN
emaj-348	170	5	,	,	PUNCT
emaj-348	170	6	the	the	DET
emaj-348	170	7	mean	mean	ADJ
emaj-348	170	8	asset	asset	NOUN
emaj-348	170	9	growth	growth	NOUN
emaj-348	170	10	(	(	PUNCT
emaj-348	170	11	asgt	asgt	NOUN
emaj-348	170	12	)	)	PUNCT
emaj-348	170	13	is	be	AUX
emaj-348	170	14	10.26	10.26	NUM
emaj-348	170	15	,	,	PUNCT
emaj-348	170	16	with	with	ADP
emaj-348	170	17	a	a	DET
emaj-348	170	18	standard	standard	ADJ
emaj-348	170	19	deviation	deviation	NOUN
emaj-348	170	20	of	of	ADP
emaj-348	170	21	35.25	35.25	NUM
emaj-348	170	22	,	,	PUNCT
emaj-348	170	23	indicating	indicate	VERB
emaj-348	170	24	substantial	substantial	ADJ
emaj-348	170	25	growth	growth	NOUN
emaj-348	170	26	variability	variability	NOUN
emaj-348	170	27	in	in	ADP
emaj-348	170	28	firm	firm	ADJ
emaj-348	170	29	assets	asset	NOUN
emaj-348	170	30	over	over	ADP
emaj-348	170	31	the	the	DET
emaj-348	170	32	period	period	NOUN
emaj-348	170	33	.	.	PUNCT
emaj-348	171	1	asset	asset	NOUN
emaj-348	171	2	tangibility	tangibility	NOUN
emaj-348	171	3	(	(	PUNCT
emaj-348	171	4	asta	asta	PROPN
emaj-348	171	5	)	)	PUNCT
emaj-348	171	6	has	have	VERB
emaj-348	171	7	a	a	DET
emaj-348	171	8	mean	mean	NOUN
emaj-348	171	9	of	of	ADP
emaj-348	171	10	41.15	41.15	NUM
emaj-348	171	11	and	and	CCONJ
emaj-348	171	12	a	a	DET
emaj-348	171	13	standard	standard	ADJ
emaj-348	171	14	deviation	deviation	NOUN
emaj-348	171	15	of	of	ADP
emaj-348	171	16	23.90	23.90	NUM
emaj-348	171	17	,	,	PUNCT
emaj-348	171	18	suggesting	suggest	VERB
emaj-348	171	19	that	that	SCONJ
emaj-348	171	20	,	,	PUNCT
emaj-348	171	21	on	on	ADP
emaj-348	171	22	average	average	ADJ
emaj-348	171	23	,	,	PUNCT
emaj-348	171	24	about	about	ADV
emaj-348	171	25	41	41	NUM
emaj-348	171	26	%	%	NOUN
emaj-348	171	27	of	of	ADP
emaj-348	171	28	firm	firm	ADJ
emaj-348	171	29	assets	asset	NOUN
emaj-348	171	30	were	be	AUX
emaj-348	171	31	tangible	tangible	ADJ
emaj-348	171	32	,	,	PUNCT
emaj-348	171	33	but	but	CCONJ
emaj-348	171	34	with	with	ADP
emaj-348	171	35	significant	significant	ADJ
emaj-348	171	36	variation	variation	NOUN
emaj-348	171	37	across	across	ADP
emaj-348	171	38	firms	firm	NOUN
emaj-348	171	39	.	.	PUNCT
emaj-348	172	1	the	the	DET
emaj-348	172	2	gross	gross	ADJ
emaj-348	172	3	domestic	domestic	ADJ
emaj-348	172	4	product	product	NOUN
emaj-348	172	5	growth	growth	NOUN
emaj-348	172	6	(	(	PUNCT
emaj-348	172	7	gdpg	gdpg	PROPN
emaj-348	172	8	)	)	PUNCT
emaj-348	172	9	displays	display	VERB
emaj-348	172	10	a	a	DET
emaj-348	172	11	mean	mean	NOUN
emaj-348	172	12	of	of	ADP
emaj-348	172	13	2.50	2.50	NUM
emaj-348	172	14	with	with	ADP
emaj-348	172	15	a	a	DET
emaj-348	172	16	standard	standard	ADJ
emaj-348	172	17	deviation	deviation	NOUN
emaj-348	172	18	of	of	ADP
emaj-348	172	19	2.74	2.74	NUM
emaj-348	172	20	,	,	PUNCT
emaj-348	172	21	showing	show	VERB
emaj-348	172	22	an	an	DET
emaj-348	172	23	average	average	ADJ
emaj-348	172	24	gdp	gdp	NOUN
emaj-348	172	25	increase	increase	NOUN
emaj-348	172	26	of	of	ADP
emaj-348	172	27	about	about	ADP
emaj-348	172	28	2.5	2.5	NUM
emaj-348	172	29	%	%	NOUN
emaj-348	172	30	during	during	ADP
emaj-348	172	31	the	the	DET
emaj-348	172	32	period	period	NOUN
emaj-348	172	33	,	,	PUNCT
emaj-348	172	34	which	which	PRON
emaj-348	172	35	reflects	reflect	VERB
emaj-348	172	36	a	a	DET
emaj-348	172	37	moderate	moderate	ADJ
emaj-348	172	38	economic	economic	ADJ
emaj-348	172	39	growth	growth	NOUN
emaj-348	172	40	environment	environment	NOUN
emaj-348	172	41	.	.	PUNCT
emaj-348	173	1	credit	credit	NOUN
emaj-348	173	2	to	to	ADP
emaj-348	173	3	the	the	DET
emaj-348	173	4	private	private	ADJ
emaj-348	173	5	sector	sector	NOUN
emaj-348	173	6	(	(	PUNCT
emaj-348	173	7	crps	crps	PROPN
emaj-348	173	8	)	)	PUNCT
emaj-348	173	9	has	have	VERB
emaj-348	173	10	a	a	DET
emaj-348	173	11	mean	mean	NOUN
emaj-348	173	12	of	of	ADP
emaj-348	173	13	4.18	4.18	NUM
emaj-348	173	14	with	with	ADP
emaj-348	173	15	a	a	DET
emaj-348	173	16	low	low	ADJ
emaj-348	173	17	standard	standard	ADJ
emaj-348	173	18	deviation	deviation	NOUN
emaj-348	173	19	of	of	ADP
emaj-348	173	20	0.10	0.10	NUM
emaj-348	173	21	,	,	PUNCT
emaj-348	173	22	indicating	indicate	VERB
emaj-348	173	23	a	a	DET
emaj-348	173	24	stable	stable	ADJ
emaj-348	173	25	supply	supply	NOUN
emaj-348	173	26	of	of	ADP
emaj-348	173	27	credit	credit	NOUN
emaj-348	173	28	to	to	ADP
emaj-348	173	29	the	the	DET
emaj-348	173	30	private	private	ADJ
emaj-348	173	31	sector	sector	NOUN
emaj-348	173	32	during	during	ADP
emaj-348	173	33	the	the	DET
emaj-348	173	34	period	period	NOUN
emaj-348	173	35	under	under	ADP
emaj-348	173	36	study	study	NOUN
emaj-348	173	37	.	.	PUNCT
emaj-348	174	1	firm	firm	ADJ
emaj-348	174	2	size	size	NOUN
emaj-348	174	3	(	(	PUNCT
emaj-348	174	4	fsiz	fsiz	PROPN
emaj-348	174	5	)	)	PUNCT
emaj-348	174	6	shows	show	VERB
emaj-348	174	7	a	a	DET
emaj-348	174	8	mean	mean	NOUN
emaj-348	174	9	of	of	ADP
emaj-348	174	10	7.14	7.14	NUM
emaj-348	174	11	with	with	ADP
emaj-348	174	12	a	a	DET
emaj-348	174	13	standard	standard	ADJ
emaj-348	174	14	deviation	deviation	NOUN
emaj-348	174	15	of	of	ADP
emaj-348	174	16	0.82	0.82	NUM
emaj-348	174	17	,	,	PUNCT
emaj-348	174	18	reflecting	reflect	VERB
emaj-348	174	19	the	the	DET
emaj-348	174	20	average	average	ADJ
emaj-348	174	21	size	size	NOUN
emaj-348	174	22	of	of	ADP
emaj-348	174	23	firms	firm	NOUN
emaj-348	174	24	included	include	VERB
emaj-348	174	25	in	in	ADP
emaj-348	174	26	the	the	DET
emaj-348	174	27	study	study	NOUN
emaj-348	174	28	and	and	CCONJ
emaj-348	174	29	relatively	relatively	ADV
emaj-348	174	30	little	little	ADJ
emaj-348	174	31	variation	variation	NOUN
emaj-348	174	32	in	in	ADP
emaj-348	174	33	size	size	NOUN
emaj-348	174	34	.	.	PUNCT
emaj-348	175	1	family	family	NOUN
emaj-348	175	2	ownership	ownership	NOUN
emaj-348	175	3	(	(	PUNCT
emaj-348	175	4	fown	fown	PROPN
emaj-348	175	5	)	)	PUNCT
emaj-348	175	6	has	have	VERB
emaj-348	175	7	a	a	DET
emaj-348	175	8	mean	mean	NOUN
emaj-348	175	9	of	of	ADP
emaj-348	175	10	7.22	7.22	NUM
emaj-348	175	11	with	with	ADP
emaj-348	175	12	a	a	DET
emaj-348	175	13	standard	standard	ADJ
emaj-348	175	14	deviation	deviation	NOUN
emaj-348	175	15	of	of	ADP
emaj-348	175	16	14.98	14.98	NUM
emaj-348	175	17	,	,	PUNCT
emaj-348	175	18	suggesting	suggest	VERB
emaj-348	175	19	a	a	DET
emaj-348	175	20	moderate	moderate	ADJ
emaj-348	175	21	presence	presence	NOUN
emaj-348	175	22	of	of	ADP
emaj-348	175	23	family	family	NOUN
emaj-348	175	24	ownership	ownership	NOUN
emaj-348	175	25	among	among	ADP
emaj-348	175	26	the	the	DET
emaj-348	175	27	firms	firm	NOUN
emaj-348	175	28	,	,	PUNCT
emaj-348	175	29	but	but	CCONJ
emaj-348	175	30	with	with	ADP
emaj-348	175	31	a	a	DET
emaj-348	175	32	high	high	ADJ
emaj-348	175	33	degree	degree	NOUN
emaj-348	175	34	of	of	ADP
emaj-348	175	35	variability	variability	NOUN
emaj-348	175	36	.	.	PUNCT
emaj-348	176	1	finally	finally	ADV
emaj-348	176	2	,	,	PUNCT
emaj-348	176	3	market	market	NOUN
emaj-348	176	4	capitalization	capitalization	NOUN
emaj-348	176	5	(	(	PUNCT
emaj-348	176	6	mcap	mcap	NOUN
emaj-348	176	7	)	)	PUNCT
emaj-348	176	8	has	have	VERB
emaj-348	176	9	a	a	DET
emaj-348	176	10	mean	mean	NOUN
emaj-348	176	11	of	of	ADP
emaj-348	176	12	6.77	6.77	NUM
emaj-348	176	13	with	with	ADP
emaj-348	176	14	a	a	DET
emaj-348	176	15	standard	standard	ADJ
emaj-348	176	16	deviation	deviation	NOUN
emaj-348	176	17	of	of	ADP
emaj-348	176	18	1.00	1.00	NUM
emaj-348	176	19	,	,	PUNCT
emaj-348	176	20	indicating	indicate	VERB
emaj-348	176	21	that	that	SCONJ
emaj-348	176	22	the	the	DET
emaj-348	176	23	firms	firm	NOUN
emaj-348	176	24	in	in	ADP
emaj-348	176	25	the	the	DET
emaj-348	176	26	sample	sample	NOUN
emaj-348	176	27	were	be	AUX
emaj-348	176	28	generally	generally	ADV
emaj-348	176	29	medium	medium	ADJ
emaj-348	176	30	sized	sized	ADJ
emaj-348	176	31	in	in	ADP
emaj-348	176	32	terms	term	NOUN
emaj-348	176	33	of	of	ADP
emaj-348	176	34	market	market	NOUN
emaj-348	176	35	value	value	NOUN
emaj-348	176	36	,	,	PUNCT
emaj-348	176	37	with	with	ADP
emaj-348	176	38	relatively	relatively	ADV
emaj-348	176	39	little	little	ADJ
emaj-348	176	40	variation	variation	NOUN
emaj-348	176	41	across	across	ADP
emaj-348	176	42	the	the	DET
emaj-348	176	43	sample	sample	NOUN
emaj-348	176	44	.	.	PUNCT
emaj-348	177	1	test	test	NOUN
emaj-348	177	2	for	for	ADP
emaj-348	177	3	data	datum	NOUN
emaj-348	177	4	normality	normality	NOUN
emaj-348	177	5	in	in	ADP
emaj-348	177	6	order	order	NOUN
emaj-348	177	7	to	to	PART
emaj-348	177	8	ascertain	ascertain	VERB
emaj-348	177	9	if	if	SCONJ
emaj-348	177	10	our	our	PRON
emaj-348	177	11	data	datum	NOUN
emaj-348	177	12	follow	follow	VERB
emaj-348	177	13	a	a	DET
emaj-348	177	14	normal	normal	ADJ
emaj-348	177	15	distribution	distribution	NOUN
emaj-348	177	16	,	,	PUNCT
emaj-348	177	17	we	we	PRON
emaj-348	177	18	employed	employ	VERB
emaj-348	177	19	the	the	DET
emaj-348	177	20	shapiro	shapiro	PROPN
emaj-348	177	21	wilk	wilk	PROPN
emaj-348	177	22	test	test	PROPN
emaj-348	177	23	for	for	ADP
emaj-348	177	24	data	datum	NOUN
emaj-348	177	25	normality	normality	NOUN
emaj-348	177	26	in	in	ADP
emaj-348	177	27	stata	stata	NOUN
emaj-348	177	28	.	.	PUNCT
emaj-348	178	1	particularly	particularly	ADV
emaj-348	178	2	,	,	PUNCT
emaj-348	178	3	we	we	PRON
emaj-348	178	4	failed	fail	VERB
emaj-348	178	5	to	to	PART
emaj-348	178	6	use	use	VERB
emaj-348	178	7	the	the	DET
emaj-348	178	8	kurtosis	kurtosis	NOUN
emaj-348	178	9	and	and	CCONJ
emaj-348	178	10	skewness	skewness	NOUN
emaj-348	178	11	test	test	NOUN
emaj-348	178	12	for	for	ADP
emaj-348	178	13	normality	normality	NOUN
emaj-348	178	14	since	since	SCONJ
emaj-348	178	15	our	our	PRON
emaj-348	178	16	observation	observation	NOUN
emaj-348	178	17	is	be	AUX
emaj-348	178	18	relatively	relatively	ADV
emaj-348	178	19	lower	low	ADJ
emaj-348	178	20	than	than	ADP
emaj-348	178	21	2000	2000	NUM
emaj-348	178	22	.	.	PUNCT
emaj-348	179	1	the	the	DET
emaj-348	179	2	null	null	ADJ
emaj-348	179	3	hypothesis	hypothesis	NOUN
emaj-348	179	4	of	of	ADP
emaj-348	179	5	the	the	DET
emaj-348	179	6	shapiro	shapiro	PROPN
emaj-348	179	7	-	-	PUNCT
emaj-348	179	8	wilkson	wilkson	NOUN
emaj-348	179	9	test	test	NOUN
emaj-348	179	10	for	for	ADP
emaj-348	179	11	normality	normality	NOUN
emaj-348	179	12	(	(	PUNCT
emaj-348	179	13	zvolume	zvolume	NOUN
emaj-348	179	14	14	14	NUM
emaj-348	179	15	no	no	PRON
emaj-348	179	16	2	2	NUM
emaj-348	179	17	(	(	PUNCT
emaj-348	179	18	2024	2024	NUM
emaj-348	179	19	)	)	PUNCT
emaj-348	179	20	|	|	ADV
emaj-348	179	21	issn	issn	VERB
emaj-348	179	22	2158	2158	NUM
emaj-348	179	23	-	-	SYM
emaj-348	179	24	8708	8708	NUM
emaj-348	179	25	(	(	PUNCT
emaj-348	179	26	online	online	NOUN
emaj-348	179	27	)	)	PUNCT
emaj-348	179	28	|	|	ADV
emaj-348	179	29	doi	doi	X
emaj-348	179	30	10.5195	10.5195	NUM
emaj-348	179	31	/	/	SYM
emaj-348	179	32	emaj.2024.348	emaj.2024.348	PROPN
emaj-348	179	33	|	|	NOUN
emaj-348	179	34	http://emaj.pitt.edu	http://emaj.pitt.edu	VERB
emaj-348	179	35	female	female	ADJ
emaj-348	179	36	directors	director	NOUN
emaj-348	179	37	’	'	PUNCT
emaj-348	179	38	role	role	NOUN
emaj-348	179	39	on	on	ADP
emaj-348	179	40	capital	capital	NOUN
emaj-348	179	41	structure	structure	NOUN
emaj-348	179	42	and	and	CCONJ
emaj-348	179	43	firm	firm	ADJ
emaj-348	179	44	performance	performance	NOUN
emaj-348	179	45	nexus	nexus	NOUN
emaj-348	179	46	:	:	PUNCT
emaj-348	179	47	new	new	ADJ
emaj-348	179	48	evidence	evidence	NOUN
emaj-348	179	49	from	from	ADP
emaj-348	179	50	an	an	DET
emaj-348	179	51	emerging	emerge	VERB
emaj-348	179	52	market	market	NOUN
emaj-348	179	53	nigeria	nigeria	PROPN
emaj-348	179	54	page	page	NOUN
emaj-348	179	55	|40|	|40|	VERB
emaj-348	179	56	emerging	emerge	VERB
emaj-348	179	57	markets	market	NOUN
emaj-348	179	58	journal	journal	PROPN
emaj-348	179	59	statistics	statistic	NOUN
emaj-348	179	60	)	)	PUNCT
emaj-348	179	61	is	be	AUX
emaj-348	179	62	that	that	SCONJ
emaj-348	179	63	the	the	DET
emaj-348	179	64	data	datum	NOUN
emaj-348	179	65	are	be	AUX
emaj-348	179	66	normally	normally	ADV
emaj-348	179	67	distributed	distribute	VERB
emaj-348	179	68	.	.	PUNCT
emaj-348	180	1	an	an	DET
emaj-348	180	2	acceptance	acceptance	NOUN
emaj-348	180	3	of	of	ADP
emaj-348	180	4	the	the	DET
emaj-348	180	5	null	null	ADJ
emaj-348	180	6	hypothesis	hypothesis	NOUN
emaj-348	180	7	implies	imply	VERB
emaj-348	180	8	an	an	DET
emaj-348	180	9	insignificant	insignificant	ADJ
emaj-348	180	10	p	p	NOUN
emaj-348	180	11	-	-	PUNCT
emaj-348	180	12	value	value	NOUN
emaj-348	180	13	of	of	ADP
emaj-348	180	14	the	the	DET
emaj-348	180	15	z	z	PROPN
emaj-348	180	16	-	-	PUNCT
emaj-348	180	17	statistics	statistic	NOUN
emaj-348	180	18	,	,	PUNCT
emaj-348	180	19	and	and	CCONJ
emaj-348	180	20	rejection	rejection	NOUN
emaj-348	180	21	of	of	ADP
emaj-348	180	22	the	the	DET
emaj-348	180	23	null	null	ADJ
emaj-348	180	24	hypothesis	hypothesis	NOUN
emaj-348	180	25	implies	imply	VERB
emaj-348	180	26	a	a	DET
emaj-348	180	27	significant	significant	ADJ
emaj-348	180	28	p	p	NOUN
emaj-348	180	29	-	-	PUNCT
emaj-348	180	30	value	value	NOUN
emaj-348	180	31	of	of	ADP
emaj-348	180	32	the	the	DET
emaj-348	180	33	z	z	PROPN
emaj-348	180	34	-	-	PUNCT
emaj-348	180	35	statistics	statistic	NOUN
emaj-348	180	36	.	.	PUNCT
emaj-348	181	1	the	the	DET
emaj-348	181	2	results	result	NOUN
emaj-348	181	3	in	in	ADP
emaj-348	181	4	table	table	NOUN
emaj-348	181	5	3	3	NUM
emaj-348	181	6	indicate	indicate	VERB
emaj-348	181	7	that	that	SCONJ
emaj-348	181	8	the	the	DET
emaj-348	181	9	firm	firm	ADJ
emaj-348	181	10	performance	performance	NOUN
emaj-348	181	11	measures	measure	NOUN
emaj-348	181	12	,	,	PUNCT
emaj-348	181	13	including	include	VERB
emaj-348	181	14	tobq	tobq	NOUN
emaj-348	181	15	,	,	PUNCT
emaj-348	181	16	reta	reta	NOUN
emaj-348	181	17	,	,	PUNCT
emaj-348	181	18	and	and	CCONJ
emaj-348	181	19	mvad	mvad	NOUN
emaj-348	181	20	,	,	PUNCT
emaj-348	181	21	are	be	AUX
emaj-348	181	22	not	not	PART
emaj-348	181	23	normally	normally	ADV
emaj-348	181	24	distributed	distribute	VERB
emaj-348	181	25	.	.	PUNCT
emaj-348	182	1	similarly	similarly	ADV
emaj-348	182	2	,	,	PUNCT
emaj-348	182	3	the	the	DET
emaj-348	182	4	independent	independent	ADJ
emaj-348	182	5	variables	variable	NOUN
emaj-348	182	6	eqta	eqta	NOUN
emaj-348	182	7	,	,	PUNCT
emaj-348	182	8	deta	deta	NOUN
emaj-348	182	9	,	,	PUNCT
emaj-348	182	10	and	and	CCONJ
emaj-348	182	11	dete	dete	ADJ
emaj-348	182	12	do	do	AUX
emaj-348	182	13	not	not	PART
emaj-348	182	14	follow	follow	VERB
emaj-348	182	15	a	a	DET
emaj-348	182	16	normal	normal	ADJ
emaj-348	182	17	distribution	distribution	NOUN
emaj-348	182	18	.	.	PUNCT
emaj-348	183	1	however	however	ADV
emaj-348	183	2	,	,	PUNCT
emaj-348	183	3	fbmp	fbmp	PROPN
emaj-348	183	4	shows	show	VERB
emaj-348	183	5	a	a	DET
emaj-348	183	6	normal	normal	ADJ
emaj-348	183	7	distribution	distribution	NOUN
emaj-348	183	8	.	.	PUNCT
emaj-348	184	1	among	among	ADP
emaj-348	184	2	the	the	DET
emaj-348	184	3	control	control	NOUN
emaj-348	184	4	variables	variable	NOUN
emaj-348	184	5	,	,	PUNCT
emaj-348	184	6	asgt	asgt	NOUN
emaj-348	184	7	,	,	PUNCT
emaj-348	184	8	asta	asta	PROPN
emaj-348	184	9	,	,	PUNCT
emaj-348	184	10	gdpg	gdpg	NOUN
emaj-348	184	11	,	,	PUNCT
emaj-348	184	12	crps	crps	PROPN
emaj-348	184	13	,	,	PUNCT
emaj-348	184	14	fsiz	fsiz	PROPN
emaj-348	184	15	,	,	PUNCT
emaj-348	184	16	fown	fown	PROPN
emaj-348	184	17	and	and	CCONJ
emaj-348	184	18	mcap	mcap	NOUN
emaj-348	184	19	also	also	ADV
emaj-348	184	20	do	do	AUX
emaj-348	184	21	not	not	PART
emaj-348	184	22	exhibit	exhibit	VERB
emaj-348	184	23	normal	normal	ADJ
emaj-348	184	24	distribution	distribution	NOUN
emaj-348	184	25	,	,	PUNCT
emaj-348	184	26	as	as	SCONJ
emaj-348	184	27	shown	show	VERB
emaj-348	184	28	in	in	ADP
emaj-348	184	29	table	table	NOUN
emaj-348	184	30	3	3	NUM
emaj-348	184	31	.	.	PUNCT
emaj-348	185	1	hence	hence	ADV
emaj-348	185	2	,	,	PUNCT
emaj-348	185	3	we	we	PRON
emaj-348	185	4	employed	employ	VERB
emaj-348	185	5	the	the	DET
emaj-348	185	6	spearman	spearman	NOUN
emaj-348	185	7	rank	rank	NOUN
emaj-348	185	8	correlation	correlation	NOUN
emaj-348	185	9	to	to	PART
emaj-348	185	10	examine	examine	VERB
emaj-348	185	11	the	the	DET
emaj-348	185	12	relationship	relationship	NOUN
emaj-348	185	13	between	between	ADP
emaj-348	185	14	the	the	DET
emaj-348	185	15	variables	variable	NOUN
emaj-348	185	16	under	under	ADP
emaj-348	185	17	study	study	NOUN
emaj-348	185	18	.	.	PUNCT
emaj-348	186	1	correlation	correlation	NOUN
emaj-348	186	2	analyses	analysis	NOUN
emaj-348	186	3	we	we	PRON
emaj-348	186	4	test	test	VERB
emaj-348	186	5	for	for	ADP
emaj-348	186	6	the	the	DET
emaj-348	186	7	association	association	NOUN
emaj-348	186	8	between	between	ADP
emaj-348	186	9	the	the	DET
emaj-348	186	10	variables	variable	NOUN
emaj-348	186	11	employed	employ	VERB
emaj-348	186	12	by	by	ADP
emaj-348	186	13	adopting	adopt	VERB
emaj-348	186	14	the	the	DET
emaj-348	186	15	spearman	spearman	NOUN
emaj-348	186	16	rank	rank	NOUN
emaj-348	186	17	correlation	correlation	NOUN
emaj-348	186	18	module	module	NOUN
emaj-348	186	19	in	in	ADP
emaj-348	186	20	stata	stata	NOUN
emaj-348	186	21	.	.	PUNCT
emaj-348	187	1	specifically	specifically	ADV
emaj-348	187	2	,	,	PUNCT
emaj-348	187	3	the	the	DET
emaj-348	187	4	spearman	spearman	NOUN
emaj-348	187	5	rank	rank	PROPN
emaj-348	187	6	correction	correction	NOUN
emaj-348	187	7	is	be	AUX
emaj-348	187	8	our	our	PRON
emaj-348	187	9	choice	choice	NOUN
emaj-348	187	10	since	since	SCONJ
emaj-348	187	11	our	our	PRON
emaj-348	187	12	data	datum	NOUN
emaj-348	187	13	do	do	AUX
emaj-348	187	14	not	not	PART
emaj-348	187	15	follow	follow	VERB
emaj-348	187	16	a	a	DET
emaj-348	187	17	normal	normal	ADJ
emaj-348	187	18	distribution	distribution	NOUN
emaj-348	187	19	and	and	CCONJ
emaj-348	187	20	our	our	PRON
emaj-348	187	21	observation	observation	NOUN
emaj-348	187	22	is	be	AUX
emaj-348	187	23	less	less	ADJ
emaj-348	187	24	than	than	ADP
emaj-348	187	25	2000	2000	NUM
emaj-348	187	26	.	.	PUNCT
emaj-348	188	1	based	base	VERB
emaj-348	188	2	on	on	ADP
emaj-348	188	3	the	the	DET
emaj-348	188	4	foregoing	foregoing	NOUN
emaj-348	188	5	,	,	PUNCT
emaj-348	188	6	our	our	PRON
emaj-348	188	7	result	result	NOUN
emaj-348	188	8	shows	show	VERB
emaj-348	188	9	that	that	SCONJ
emaj-348	188	10	the	the	DET
emaj-348	188	11	independent	independent	ADJ
emaj-348	188	12	variables	variable	NOUN
emaj-348	188	13	of	of	ADP
emaj-348	188	14	equity	equity	NOUN
emaj-348	188	15	to	to	ADP
emaj-348	188	16	asset	asset	NOUN
emaj-348	188	17	ratio	ratio	NOUN
emaj-348	188	18	(	(	PUNCT
emaj-348	188	19	-0.2143	-0.2143	NOUN
emaj-348	188	20	)	)	PUNCT
emaj-348	188	21	,	,	PUNCT
emaj-348	188	22	female	female	ADJ
emaj-348	188	23	board	board	NOUN
emaj-348	188	24	directors	director	NOUN
emaj-348	188	25	’	'	PUNCT
emaj-348	188	26	presence	presence	NOUN
emaj-348	188	27	(	(	PUNCT
emaj-348	188	28	-0.0225	-0.0225	NOUN
emaj-348	188	29	)	)	PUNCT
emaj-348	188	30	,	,	PUNCT
emaj-348	188	31	and	and	CCONJ
emaj-348	188	32	the	the	DET
emaj-348	188	33	control	control	NOUN
emaj-348	188	34	variable	variable	NOUN
emaj-348	188	35	of	of	ADP
emaj-348	188	36	credit	credit	NOUN
emaj-348	188	37	to	to	ADP
emaj-348	188	38	private	private	ADJ
emaj-348	188	39	sector	sector	NOUN
emaj-348	188	40	(	(	PUNCT
emaj-348	188	41	-0.2133	-0.2133	NOUN
emaj-348	188	42	)	)	PUNCT
emaj-348	188	43	as	as	ADV
emaj-348	188	44	well	well	ADV
emaj-348	188	45	as	as	ADP
emaj-348	188	46	family	family	NOUN
emaj-348	188	47	ownership	ownership	NOUN
emaj-348	188	48	(	(	PUNCT
emaj-348	188	49	-0.1078	-0.1078	PROPN
emaj-348	188	50	)	)	PUNCT
emaj-348	188	51	are	be	AUX
emaj-348	188	52	negatively	negatively	ADV
emaj-348	188	53	associated	associate	VERB
emaj-348	188	54	with	with	ADP
emaj-348	188	55	the	the	DET
emaj-348	188	56	dependent	dependent	ADJ
emaj-348	188	57	variable	variable	NOUN
emaj-348	188	58	of	of	ADP
emaj-348	188	59	firm	firm	ADJ
emaj-348	188	60	performance	performance	NOUN
emaj-348	188	61	when	when	SCONJ
emaj-348	188	62	measured	measure	VERB
emaj-348	188	63	in	in	ADP
emaj-348	188	64	terms	term	NOUN
emaj-348	188	65	of	of	ADP
emaj-348	188	66	tobin	tobin	PROPN
emaj-348	188	67	q.	q.	PROPN
emaj-348	188	68	however	however	ADV
emaj-348	188	69	,	,	PUNCT
emaj-348	188	70	the	the	DET
emaj-348	188	71	result	result	NOUN
emaj-348	188	72	shows	show	VERB
emaj-348	188	73	that	that	SCONJ
emaj-348	188	74	debt	debt	NOUN
emaj-348	188	75	to	to	ADP
emaj-348	188	76	asset	asset	NOUN
emaj-348	188	77	ratio	ratio	NOUN
emaj-348	188	78	(	(	PUNCT
emaj-348	188	79	0.2815	0.2815	NOUN
emaj-348	188	80	)	)	PUNCT
emaj-348	188	81	,	,	PUNCT
emaj-348	188	82	debt	debt	NOUN
emaj-348	188	83	to	to	ADP
emaj-348	188	84	equity	equity	NOUN
emaj-348	188	85	ratio	ratio	NOUN
emaj-348	188	86	(	(	PUNCT
emaj-348	188	87	0.1229	0.1229	NUM
emaj-348	188	88	)	)	PUNCT
emaj-348	188	89	,	,	PUNCT
emaj-348	188	90	and	and	CCONJ
emaj-348	188	91	the	the	DET
emaj-348	188	92	control	control	NOUN
emaj-348	188	93	variables	variable	NOUN
emaj-348	188	94	of	of	ADP
emaj-348	188	95	asset	asset	NOUN
emaj-348	188	96	growth	growth	NOUN
emaj-348	188	97	(	(	PUNCT
emaj-348	188	98	0.0661	0.0661	NUM
emaj-348	188	99	)	)	PUNCT
emaj-348	188	100	,	,	PUNCT
emaj-348	188	101	asset	asset	NOUN
emaj-348	188	102	tangibility	tangibility	NOUN
emaj-348	188	103	(	(	PUNCT
emaj-348	188	104	0.2063	0.2063	NUM
emaj-348	188	105	)	)	PUNCT
emaj-348	188	106	,	,	PUNCT
emaj-348	188	107	gdp	gdp	NOUN
emaj-348	188	108	growth	growth	NOUN
emaj-348	188	109	(	(	PUNCT
emaj-348	188	110	0.1853	0.1853	NUM
emaj-348	188	111	)	)	PUNCT
emaj-348	188	112	,	,	PUNCT
emaj-348	188	113	firm	firm	ADJ
emaj-348	188	114	size	size	NOUN
emaj-348	188	115	(	(	PUNCT
emaj-348	188	116	0.0716	0.0716	NUM
emaj-348	188	117	)	)	PUNCT
emaj-348	188	118	,	,	PUNCT
emaj-348	188	119	and	and	CCONJ
emaj-348	188	120	market	market	NOUN
emaj-348	188	121	capitalization	capitalization	NOUN
emaj-348	188	122	(	(	PUNCT
emaj-348	188	123	0.3926	0.3926	NUM
emaj-348	188	124	)	)	PUNCT
emaj-348	188	125	are	be	AUX
emaj-348	188	126	positively	positively	ADV
emaj-348	188	127	associated	associate	VERB
emaj-348	188	128	with	with	ADP
emaj-348	188	129	the	the	DET
emaj-348	188	130	dependent	dependent	ADJ
emaj-348	188	131	variable	variable	NOUN
emaj-348	188	132	of	of	ADP
emaj-348	188	133	firm	firm	ADJ
emaj-348	188	134	performance	performance	NOUN
emaj-348	188	135	when	when	SCONJ
emaj-348	188	136	measured	measure	VERB
emaj-348	188	137	in	in	ADP
emaj-348	188	138	terms	term	NOUN
emaj-348	188	139	of	of	ADP
emaj-348	188	140	tobin	tobin	PROPN
emaj-348	188	141	q.	q.	PROPN
emaj-348	188	142	on	on	ADP
emaj-348	188	143	the	the	DET
emaj-348	188	144	other	other	ADJ
emaj-348	188	145	hand	hand	NOUN
emaj-348	188	146	,	,	PUNCT
emaj-348	188	147	the	the	DET
emaj-348	188	148	result	result	NOUN
emaj-348	188	149	shows	show	VERB
emaj-348	188	150	that	that	SCONJ
emaj-348	188	151	debt	debt	NOUN
emaj-348	188	152	to	to	ADP
emaj-348	188	153	asset	asset	NOUN
emaj-348	188	154	ratio	ratio	NOUN
emaj-348	188	155	(	(	PUNCT
emaj-348	188	156	-0.3745	-0.3745	PROPN
emaj-348	188	157	)	)	PUNCT
emaj-348	188	158	,	,	PUNCT
emaj-348	188	159	debt	debt	NOUN
emaj-348	188	160	to	to	ADP
emaj-348	188	161	equity	equity	NOUN
emaj-348	188	162	ratio	ratio	NOUN
emaj-348	188	163	(	(	PUNCT
emaj-348	188	164	-0.2342	-0.2342	ADJ
emaj-348	188	165	)	)	PUNCT
emaj-348	188	166	,	,	PUNCT
emaj-348	188	167	as	as	ADV
emaj-348	188	168	well	well	ADV
emaj-348	188	169	as	as	ADP
emaj-348	188	170	the	the	DET
emaj-348	188	171	control	control	NOUN
emaj-348	188	172	variables	variable	NOUN
emaj-348	188	173	of	of	ADP
emaj-348	188	174	asset	asset	NOUN
emaj-348	188	175	tangibility	tangibility	NOUN
emaj-348	188	176	(	(	PUNCT
emaj-348	188	177	-0.1035	-0.1035	PROPN
emaj-348	188	178	)	)	PUNCT
emaj-348	188	179	,	,	PUNCT
emaj-348	188	180	credit	credit	NOUN
emaj-348	188	181	to	to	ADP
emaj-348	188	182	private	private	ADJ
emaj-348	188	183	sector	sector	NOUN
emaj-348	188	184	(	(	PUNCT
emaj-348	188	185	0.1601	0.1601	NUM
emaj-348	188	186	)	)	PUNCT
emaj-348	188	187	and	and	CCONJ
emaj-348	188	188	family	family	NOUN
emaj-348	188	189	ownership	ownership	NOUN
emaj-348	188	190	(	(	PUNCT
emaj-348	188	191	-0.0965	-0.0965	NOUN
emaj-348	188	192	)	)	PUNCT
emaj-348	188	193	are	be	AUX
emaj-348	188	194	negatively	negatively	ADV
emaj-348	188	195	associated	associate	VERB
emaj-348	188	196	with	with	ADP
emaj-348	188	197	the	the	DET
emaj-348	188	198	dependent	dependent	ADJ
emaj-348	188	199	variable	variable	NOUN
emaj-348	188	200	of	of	ADP
emaj-348	188	201	firm	firm	ADJ
emaj-348	188	202	performance	performance	NOUN
emaj-348	188	203	when	when	SCONJ
emaj-348	188	204	measured	measure	VERB
emaj-348	188	205	in	in	ADP
emaj-348	188	206	terms	term	NOUN
emaj-348	188	207	of	of	ADP
emaj-348	188	208	return	return	NOUN
emaj-348	188	209	on	on	ADP
emaj-348	188	210	asset	asset	NOUN
emaj-348	188	211	.	.	PUNCT
emaj-348	189	1	but	but	CCONJ
emaj-348	189	2	,	,	PUNCT
emaj-348	189	3	we	we	PRON
emaj-348	189	4	find	find	VERB
emaj-348	189	5	that	that	SCONJ
emaj-348	189	6	equity	equity	NOUN
emaj-348	189	7	to	to	ADP
emaj-348	189	8	asset	asset	NOUN
emaj-348	189	9	ratio	ratio	NOUN
emaj-348	189	10	(	(	PUNCT
emaj-348	189	11	0.3436	0.3436	NUM
emaj-348	189	12	)	)	PUNCT
emaj-348	189	13	,	,	PUNCT
emaj-348	189	14	female	female	ADJ
emaj-348	189	15	board	board	NOUN
emaj-348	189	16	director	director	NOUN
emaj-348	189	17	presence	presence	NOUN
emaj-348	189	18	(	(	PUNCT
emaj-348	189	19	0.0940	0.0940	NUM
emaj-348	189	20	)	)	PUNCT
emaj-348	189	21	,	,	PUNCT
emaj-348	189	22	as	as	ADV
emaj-348	189	23	well	well	ADV
emaj-348	189	24	as	as	ADP
emaj-348	189	25	the	the	DET
emaj-348	189	26	control	control	NOUN
emaj-348	189	27	variable	variable	NOUN
emaj-348	189	28	of	of	ADP
emaj-348	189	29	asset	asset	NOUN
emaj-348	189	30	growth	growth	NOUN
emaj-348	189	31	(	(	PUNCT
emaj-348	189	32	0.3546	0.3546	NUM
emaj-348	189	33	)	)	PUNCT
emaj-348	189	34	,	,	PUNCT
emaj-348	189	35	gdp	gdp	NOUN
emaj-348	189	36	growth	growth	NOUN
emaj-348	189	37	(	(	PUNCT
emaj-348	189	38	0.1409	0.1409	NUM
emaj-348	189	39	)	)	PUNCT
emaj-348	189	40	,	,	PUNCT
emaj-348	189	41	firm	firm	ADJ
emaj-348	189	42	size	size	NOUN
emaj-348	189	43	(	(	PUNCT
emaj-348	189	44	0.1387	0.1387	NUM
emaj-348	189	45	)	)	PUNCT
emaj-348	189	46	,	,	PUNCT
emaj-348	189	47	and	and	CCONJ
emaj-348	189	48	market	market	NOUN
emaj-348	189	49	capitalization	capitalization	NOUN
emaj-348	189	50	0.3627	0.3627	NUM
emaj-348	189	51	)	)	PUNCT
emaj-348	189	52	are	be	AUX
emaj-348	189	53	positively	positively	ADV
emaj-348	189	54	associated	associate	VERB
emaj-348	189	55	with	with	ADP
emaj-348	189	56	the	the	DET
emaj-348	189	57	dependent	dependent	ADJ
emaj-348	189	58	variable	variable	NOUN
emaj-348	189	59	of	of	ADP
emaj-348	189	60	firm	firm	ADJ
emaj-348	189	61	performance	performance	NOUN
emaj-348	189	62	when	when	SCONJ
emaj-348	189	63	measured	measure	VERB
emaj-348	189	64	in	in	ADP
emaj-348	189	65	terms	term	NOUN
emaj-348	189	66	of	of	ADP
emaj-348	189	67	return	return	NOUN
emaj-348	189	68	on	on	ADP
emaj-348	189	69	asset	asset	NOUN
emaj-348	189	70	.	.	PUNCT
emaj-348	190	1	finally	finally	ADV
emaj-348	190	2	,	,	PUNCT
emaj-348	190	3	we	we	PRON
emaj-348	190	4	find	find	VERB
emaj-348	190	5	that	that	SCONJ
emaj-348	190	6	equity	equity	NOUN
emaj-348	190	7	to	to	ADP
emaj-348	190	8	asset	asset	NOUN
emaj-348	190	9	ratio	ratio	NOUN
emaj-348	190	10	(	(	PUNCT
emaj-348	190	11	0.2641	0.2641	NUM
emaj-348	190	12	)	)	PUNCT
emaj-348	190	13	,	,	PUNCT
emaj-348	190	14	female	female	ADJ
emaj-348	190	15	board	board	NOUN
emaj-348	190	16	presence	presence	NOUN
emaj-348	190	17	(	(	PUNCT
emaj-348	190	18	-0.0238	-0.0238	PROPN
emaj-348	190	19	)	)	PUNCT
emaj-348	190	20	,	,	PUNCT
emaj-348	190	21	and	and	CCONJ
emaj-348	190	22	the	the	DET
emaj-348	190	23	control	control	NOUN
emaj-348	190	24	variables	variable	NOUN
emaj-348	190	25	of	of	ADP
emaj-348	190	26	credit	credit	NOUN
emaj-348	190	27	to	to	ADP
emaj-348	190	28	private	private	ADJ
emaj-348	190	29	sector	sector	NOUN
emaj-348	190	30	(	(	PUNCT
emaj-348	190	31	-0.1962	-0.1962	NOUN
emaj-348	190	32	)	)	PUNCT
emaj-348	190	33	,	,	PUNCT
emaj-348	190	34	and	and	CCONJ
emaj-348	190	35	family	family	NOUN
emaj-348	190	36	ownership	ownership	NOUN
emaj-348	190	37	(	(	PUNCT
emaj-348	190	38	-0.1924	-0.1924	PROPN
emaj-348	190	39	)	)	PUNCT
emaj-348	190	40	are	be	AUX
emaj-348	190	41	negatively	negatively	ADV
emaj-348	190	42	associated	associate	VERB
emaj-348	190	43	with	with	ADP
emaj-348	190	44	the	the	DET
emaj-348	190	45	dependent	dependent	ADJ
emaj-348	190	46	variable	variable	NOUN
emaj-348	190	47	of	of	ADP
emaj-348	190	48	firm	firm	ADJ
emaj-348	190	49	performance	performance	NOUN
emaj-348	190	50	when	when	SCONJ
emaj-348	190	51	measured	measure	VERB
emaj-348	190	52	in	in	ADP
emaj-348	190	53	terms	term	NOUN
emaj-348	190	54	of	of	ADP
emaj-348	190	55	market	market	NOUN
emaj-348	190	56	value	value	NOUN
emaj-348	190	57	added	add	VERB
emaj-348	190	58	.	.	PUNCT
emaj-348	191	1	on	on	ADP
emaj-348	191	2	the	the	DET
emaj-348	191	3	opposite	opposite	ADJ
emaj-348	191	4	side	side	NOUN
emaj-348	191	5	,	,	PUNCT
emaj-348	191	6	debt	debt	NOUN
emaj-348	191	7	to	to	ADP
emaj-348	191	8	asset	asset	NOUN
emaj-348	191	9	ratio	ratio	NOUN
emaj-348	191	10	(	(	PUNCT
emaj-348	191	11	0.1781	0.1781	NUM
emaj-348	191	12	)	)	PUNCT
emaj-348	191	13	,	,	PUNCT
emaj-348	191	14	debt	debt	NOUN
emaj-348	191	15	to	to	ADP
emaj-348	191	16	equity	equity	NOUN
emaj-348	191	17	ratio	ratio	NOUN
emaj-348	191	18	(	(	PUNCT
emaj-348	191	19	0.0748	0.0748	NUM
emaj-348	191	20	)	)	PUNCT
emaj-348	191	21	,	,	PUNCT
emaj-348	191	22	as	as	ADV
emaj-348	191	23	well	well	ADV
emaj-348	191	24	as	as	ADP
emaj-348	191	25	the	the	DET
emaj-348	191	26	control	control	NOUN
emaj-348	191	27	variables	variable	NOUN
emaj-348	191	28	of	of	ADP
emaj-348	191	29	asset	asset	NOUN
emaj-348	191	30	growth	growth	NOUN
emaj-348	191	31	(	(	PUNCT
emaj-348	191	32	0.1341	0.1341	NUM
emaj-348	191	33	)	)	PUNCT
emaj-348	191	34	,	,	PUNCT
emaj-348	191	35	asset	asset	NOUN
emaj-348	191	36	tangibility	tangibility	NOUN
emaj-348	191	37	(	(	PUNCT
emaj-348	191	38	0.0877	0.0877	NUM
emaj-348	191	39	)	)	PUNCT
emaj-348	191	40	,	,	PUNCT
emaj-348	191	41	gdp	gdp	NOUN
emaj-348	191	42	growth	growth	NOUN
emaj-348	191	43	(	(	PUNCT
emaj-348	191	44	0.1573	0.1573	NUM
emaj-348	191	45	)	)	PUNCT
emaj-348	191	46	,	,	PUNCT
emaj-348	191	47	and	and	CCONJ
emaj-348	191	48	the	the	DET
emaj-348	191	49	control	control	NOUN
emaj-348	191	50	variable	variable	NOUN
emaj-348	191	51	of	of	ADP
emaj-348	191	52	firm	firm	ADJ
emaj-348	191	53	size	size	NOUN
emaj-348	191	54	(	(	PUNCT
emaj-348	191	55	0.1267	0.1267	NUM
emaj-348	191	56	)	)	PUNCT
emaj-348	191	57	are	be	AUX
emaj-348	191	58	positively	positively	ADV
emaj-348	191	59	associated	associate	VERB
emaj-348	191	60	with	with	ADP
emaj-348	191	61	the	the	DET
emaj-348	191	62	dependent	dependent	ADJ
emaj-348	191	63	variable	variable	NOUN
emaj-348	191	64	of	of	ADP
emaj-348	191	65	firm	firm	ADJ
emaj-348	191	66	performance	performance	NOUN
emaj-348	191	67	when	when	SCONJ
emaj-348	191	68	measured	measure	VERB
emaj-348	191	69	in	in	ADP
emaj-348	191	70	terms	term	NOUN
emaj-348	191	71	of	of	ADP
emaj-348	191	72	market	market	NOUN
emaj-348	191	73	value	value	NOUN
emaj-348	191	74	added	add	VERB
emaj-348	191	75	.	.	PUNCT
emaj-348	192	1	but	but	CCONJ
emaj-348	192	2	,	,	PUNCT
emaj-348	192	3	all	all	DET
emaj-348	192	4	associations	association	NOUN
emaj-348	192	5	are	be	AUX
emaj-348	192	6	seen	see	VERB
emaj-348	192	7	to	to	PART
emaj-348	192	8	be	be	AUX
emaj-348	192	9	weak	weak	ADJ
emaj-348	192	10	and	and	CCONJ
emaj-348	192	11	thus	thus	ADV
emaj-348	192	12	we	we	PRON
emaj-348	192	13	fail	fail	VERB
emaj-348	192	14	to	to	PART
emaj-348	192	15	suspect	suspect	VERB
emaj-348	192	16	the	the	DET
emaj-348	192	17	presence	presence	NOUN
emaj-348	192	18	of	of	ADP
emaj-348	192	19	multicollinearity	multicollinearity	NOUN
emaj-348	192	20	.	.	PUNCT
emaj-348	193	1	table	table	NOUN
emaj-348	193	2	3	3	NUM
emaj-348	193	3	:	:	PUNCT
emaj-348	193	4	descriptive	descriptive	ADJ
emaj-348	193	5	,	,	PUNCT
emaj-348	193	6	correlations	correlation	NOUN
emaj-348	193	7	and	and	CCONJ
emaj-348	193	8	tests	test	NOUN
emaj-348	193	9	for	for	ADP
emaj-348	193	10	data	data	NOUN
emaj-348	193	11	normality	normality	NOUN
emaj-348	193	12	results	result	NOUN
emaj-348	193	13	source	source	NOUN
emaj-348	193	14	:	:	PUNCT
emaj-348	193	15	stata	stata	PROPN
emaj-348	193	16	software	software	PROPN
emaj-348	193	17	output	output	NOUN
emaj-348	193	18	multivariate	multivariate	NOUN
emaj-348	193	19	regression	regression	NOUN
emaj-348	193	20	analyses	analysis	NOUN
emaj-348	193	21	we	we	PRON
emaj-348	193	22	first	first	ADV
emaj-348	193	23	examine	examine	VERB
emaj-348	193	24	the	the	DET
emaj-348	193	25	cause	cause	NOUN
emaj-348	193	26	effect	effect	NOUN
emaj-348	193	27	of	of	ADP
emaj-348	193	28	capital	capital	NOUN
emaj-348	193	29	structure	structure	NOUN
emaj-348	193	30	as	as	ADV
emaj-348	193	31	well	well	ADV
emaj-348	193	32	as	as	ADP
emaj-348	193	33	female	female	ADJ
emaj-348	193	34	board	board	NOUN
emaj-348	193	35	directors	director	NOUN
emaj-348	193	36	’	’	PART
emaj-348	193	37	presence	presence	NOUN
emaj-348	193	38	on	on	ADP
emaj-348	193	39	firm	firm	ADJ
emaj-348	193	40	performance	performance	NOUN
emaj-348	193	41	and	and	CCONJ
emaj-348	193	42	proceed	proceed	VERB
emaj-348	193	43	to	to	PART
emaj-348	193	44	examine	examine	VERB
emaj-348	193	45	the	the	DET
emaj-348	193	46	interaction	interaction	NOUN
emaj-348	193	47	effect	effect	NOUN
emaj-348	193	48	of	of	ADP
emaj-348	193	49	female	female	ADJ
emaj-348	193	50	board	board	NOUN
emaj-348	193	51	directors	director	NOUN
emaj-348	193	52	’	’	PART
emaj-348	193	53	presence	presence	NOUN
emaj-348	193	54	on	on	ADP
emaj-348	193	55	the	the	DET
emaj-348	193	56	causal	causal	ADJ
emaj-348	193	57	relationship	relationship	NOUN
emaj-348	193	58	between	between	ADP
emaj-348	193	59	capital	capital	NOUN
emaj-348	193	60	structure	structure	NOUN
emaj-348	193	61	and	and	CCONJ
emaj-348	193	62	the	the	DET
emaj-348	193	63	different	different	ADJ
emaj-348	193	64	dimensions	dimension	NOUN
emaj-348	193	65	of	of	ADP
emaj-348	193	66	firm	firm	ADJ
emaj-348	193	67	performance	performance	NOUN
emaj-348	193	68	.	.	PUNCT
emaj-348	194	1	specifically	specifically	ADV
emaj-348	194	2	,	,	PUNCT
emaj-348	194	3	we	we	PRON
emaj-348	194	4	start	start	VERB
emaj-348	194	5	by	by	ADP
emaj-348	194	6	estimating	estimate	VERB
emaj-348	194	7	the	the	DET
emaj-348	194	8	pool	pool	NOUN
emaj-348	194	9	ols	ol	NOUN
emaj-348	194	10	regression	regression	NOUN
emaj-348	194	11	and	and	CCONJ
emaj-348	194	12	test	test	NOUN
emaj-348	194	13	for	for	ADP
emaj-348	194	14	the	the	DET
emaj-348	194	15	basic	basic	ADJ
emaj-348	194	16	assumptions	assumption	NOUN
emaj-348	194	17	of	of	ADP
emaj-348	194	18	the	the	DET
emaj-348	194	19	pool	pool	NOUN
emaj-348	194	20	ols	ol	NOUN
emaj-348	194	21	regression	regression	NOUN
emaj-348	194	22	.	.	PUNCT
emaj-348	195	1	the	the	DET
emaj-348	195	2	diagnostic	diagnostic	ADJ
emaj-348	195	3	test	test	NOUN
emaj-348	195	4	includes	include	VERB
emaj-348	195	5	multicollinearity	multicollinearity	NOUN
emaj-348	195	6	,	,	PUNCT
emaj-348	195	7	homoscedasticity	homoscedasticity	NOUN
emaj-348	195	8	,	,	PUNCT
emaj-348	195	9	and	and	CCONJ
emaj-348	195	10	endogeneity	endogeneity	NOUN
emaj-348	195	11	.	.	PUNCT
emaj-348	196	1	table	table	NOUN
emaj-348	196	2	4	4	NUM
emaj-348	196	3	shows	show	VERB
emaj-348	196	4	that	that	SCONJ
emaj-348	196	5	the	the	DET
emaj-348	196	6	f	f	X
emaj-348	196	7	-	-	PUNCT
emaj-348	196	8	statistics	statistic	NOUN
emaj-348	196	9	for	for	ADP
emaj-348	196	10	the	the	DET
emaj-348	196	11	pooled	pool	VERB
emaj-348	196	12	ols	ol	NOUN
emaj-348	196	13	regression	regression	NOUN
emaj-348	196	14	models	model	NOUN
emaj-348	196	15	,	,	PUNCT
emaj-348	196	16	with	with	ADP
emaj-348	196	17	tobq	tobq	NOUN
emaj-348	196	18	and	and	CCONJ
emaj-348	196	19	reta	reta	NOUN
emaj-348	196	20	as	as	ADP
emaj-348	196	21	measures	measure	NOUN
emaj-348	196	22	of	of	ADP
emaj-348	196	23	firm	firm	ADJ
emaj-348	196	24	performance	performance	NOUN
emaj-348	196	25	,	,	PUNCT
emaj-348	196	26	are	be	AUX
emaj-348	196	27	96.12	96.12	NUM
emaj-348	196	28	and	and	CCONJ
emaj-348	196	29	16.67	16.67	NUM
emaj-348	196	30	,	,	PUNCT
emaj-348	196	31	respectively	respectively	ADV
emaj-348	196	32	,	,	PUNCT
emaj-348	196	33	both	both	CCONJ
emaj-348	196	34	with	with	ADP
emaj-348	196	35	p	p	NOUN
emaj-348	196	36	-	-	PUNCT
emaj-348	196	37	values	value	NOUN
emaj-348	196	38	of	of	ADP
emaj-348	196	39	0.0000	0.0000	NUM
emaj-348	196	40	.	.	PUNCT
emaj-348	197	1	this	this	PRON
emaj-348	197	2	indicates	indicate	VERB
emaj-348	197	3	that	that	SCONJ
emaj-348	197	4	the	the	DET
emaj-348	197	5	models	model	NOUN
emaj-348	197	6	are	be	AUX
emaj-348	197	7	statistically	statistically	ADV
emaj-348	197	8	significant	significant	ADJ
emaj-348	197	9	at	at	ADP
emaj-348	197	10	the	the	DET
emaj-348	197	11	1	1	NUM
emaj-348	197	12	%	%	NOUN
emaj-348	197	13	level	level	NOUN
emaj-348	197	14	,	,	PUNCT
emaj-348	197	15	suitable	suitable	ADJ
emaj-348	197	16	for	for	ADP
emaj-348	197	17	inference	inference	NOUN
emaj-348	197	18	.	.	PUNCT
emaj-348	198	1	the	the	DET
emaj-348	198	2	r	r	NOUN
emaj-348	198	3	-	-	PUNCT
emaj-348	198	4	squared	square	VERB
emaj-348	198	5	values	value	NOUN
emaj-348	198	6	for	for	ADP
emaj-348	198	7	the	the	DET
emaj-348	198	8	tobq	tobq	NOUN
emaj-348	198	9	model	model	NOUN
emaj-348	198	10	(	(	PUNCT
emaj-348	198	11	0.6065	0.6065	NUM
emaj-348	198	12	)	)	PUNCT
emaj-348	198	13	and	and	CCONJ
emaj-348	198	14	the	the	DET
emaj-348	198	15	reta	reta	PROPN
emaj-348	198	16	model	model	NOUN
emaj-348	198	17	(	(	PUNCT
emaj-348	198	18	0.2110	0.2110	NUM
emaj-348	198	19	)	)	PUNCT
emaj-348	198	20	suggest	suggest	VERB
emaj-348	198	21	that	that	SCONJ
emaj-348	198	22	approximately	approximately	ADV
emaj-348	198	23	61	61	NUM
emaj-348	198	24	%	%	NOUN
emaj-348	198	25	and	and	CCONJ
emaj-348	198	26	21	21	NUM
emaj-348	198	27	%	%	NOUN
emaj-348	198	28	of	of	ADP
emaj-348	198	29	the	the	DET
emaj-348	198	30	variation	variation	NOUN
emaj-348	198	31	in	in	ADP
emaj-348	198	32	firm	firm	ADJ
emaj-348	198	33	performance	performance	NOUN
emaj-348	198	34	,	,	PUNCT
emaj-348	198	35	respectively	respectively	ADV
emaj-348	198	36	,	,	PUNCT
emaj-348	198	37	are	be	AUX
emaj-348	198	38	explained	explain	VERB
emaj-348	198	39	by	by	ADP
emaj-348	198	40	the	the	DET
emaj-348	198	41	capital	capital	NOUN
emaj-348	198	42	structure	structure	NOUN
emaj-348	198	43	proxies	proxy	NOUN
emaj-348	198	44	and	and	CCONJ
emaj-348	198	45	control	control	NOUN
emaj-348	198	46	variables	variable	NOUN
emaj-348	198	47	used	use	VERB
emaj-348	198	48	in	in	ADP
emaj-348	198	49	the	the	DET
emaj-348	198	50	study	study	NOUN
emaj-348	198	51	.	.	PUNCT
emaj-348	199	1	the	the	DET
emaj-348	199	2	tobq	tobq	PROPN
emaj-348	199	3	model	model	NOUN
emaj-348	199	4	explains	explain	VERB
emaj-348	199	5	a	a	DET
emaj-348	199	6	greater	great	ADJ
emaj-348	199	7	proportion	proportion	NOUN
emaj-348	199	8	of	of	ADP
emaj-348	199	9	performance	performance	NOUN
emaj-348	199	10	variation	variation	NOUN
emaj-348	199	11	,	,	PUNCT
emaj-348	199	12	indicating	indicate	VERB
emaj-348	199	13	that	that	SCONJ
emaj-348	199	14	the	the	DET
emaj-348	199	15	capital	capital	NOUN
emaj-348	199	16	structure	structure	NOUN
emaj-348	199	17	proxies	proxy	NOUN
emaj-348	199	18	better	well	ADV
emaj-348	199	19	capture	capture	VERB
emaj-348	199	20	changes	change	NOUN
emaj-348	199	21	in	in	ADP
emaj-348	199	22	market	market	NOUN
emaj-348	199	23	value	value	NOUN
emaj-348	199	24	.	.	PUNCT
emaj-348	200	1	postdiagnostic	postdiagnostic	ADJ
emaj-348	200	2	tests	test	NOUN
emaj-348	200	3	confirm	confirm	VERB
emaj-348	200	4	the	the	DET
emaj-348	200	5	reliability	reliability	NOUN
emaj-348	200	6	of	of	ADP
emaj-348	200	7	these	these	DET
emaj-348	200	8	models	model	NOUN
emaj-348	200	9	.	.	PUNCT
emaj-348	201	1	the	the	DET
emaj-348	201	2	variance	variance	NOUN
emaj-348	201	3	inflation	inflation	NOUN
emaj-348	201	4	factor	factor	NOUN
emaj-348	201	5	(	(	PUNCT
emaj-348	201	6	vif	vif	PROPN
emaj-348	201	7	)	)	PUNCT
emaj-348	201	8	for	for	ADP
emaj-348	201	9	all	all	DET
emaj-348	201	10	models	model	NOUN
emaj-348	201	11	averages	average	NOUN
emaj-348	201	12	2.17	2.17	NUM
emaj-348	201	13	,	,	PUNCT
emaj-348	201	14	well	well	ADV
emaj-348	201	15	below	below	ADP
emaj-348	201	16	the	the	DET
emaj-348	201	17	benchmark	benchmark	NOUN
emaj-348	201	18	of	of	ADP
emaj-348	201	19	10	10	NUM
emaj-348	201	20	,	,	PUNCT
emaj-348	201	21	suggesting	suggest	VERB
emaj-348	201	22	no	no	DET
emaj-348	201	23	multicollinearity	multicollinearity	NOUN
emaj-348	201	24	issues	issue	NOUN
emaj-348	201	25	.	.	PUNCT
emaj-348	202	1	however	however	ADV
emaj-348	202	2	,	,	PUNCT
emaj-348	202	3	the	the	DET
emaj-348	202	4	breusch	breusch	ADJ
emaj-348	202	5	-	-	PUNCT
emaj-348	202	6	pagan	pagan	VERB
emaj-348	202	7	test	test	NOUN
emaj-348	202	8	reveals	reveal	VERB
emaj-348	202	9	a	a	DET
emaj-348	202	10	p	p	NOUN
emaj-348	202	11	-	-	PUNCT
emaj-348	202	12	value	value	NOUN
emaj-348	202	13	of	of	ADP
emaj-348	202	14	0.0000	0.0000	NUM
emaj-348	202	15	,	,	PUNCT
emaj-348	202	16	indicating	indicate	VERB
emaj-348	202	17	a	a	DET
emaj-348	202	18	violation	violation	NOUN
emaj-348	202	19	of	of	ADP
emaj-348	202	20	the	the	DET
emaj-348	202	21	homoscedasticity	homoscedasticity	NOUN
emaj-348	202	22	assumption	assumption	NOUN
emaj-348	202	23	in	in	ADP
emaj-348	202	24	the	the	DET
emaj-348	202	25	pooled	pool	VERB
emaj-348	202	26	ols	ol	NOUN
emaj-348	202	27	models	model	NOUN
emaj-348	202	28	.	.	PUNCT
emaj-348	203	1	the	the	DET
emaj-348	203	2	gmm	gmm	NOUN
emaj-348	203	3	employed	employ	VERB
emaj-348	203	4	in	in	ADP
emaj-348	203	5	this	this	DET
emaj-348	203	6	study	study	NOUN
emaj-348	203	7	addresses	address	VERB
emaj-348	203	8	various	various	ADJ
emaj-348	203	9	statistical	statistical	ADJ
emaj-348	203	10	concerns	concern	NOUN
emaj-348	203	11	,	,	PUNCT
emaj-348	203	12	including	include	VERB
emaj-348	203	13	the	the	DET
emaj-348	203	14	temporal	temporal	ADJ
emaj-348	203	15	correlation	correlation	NOUN
emaj-348	203	16	of	of	ADP
emaj-348	203	17	errors	error	NOUN
emaj-348	203	18	,	,	PUNCT
emaj-348	203	19	heteroscedasticity	heteroscedasticity	NOUN
emaj-348	203	20	across	across	ADP
emaj-348	203	21	firms	firm	NOUN
emaj-348	203	22	,	,	PUNCT
emaj-348	203	23	simultaneity	simultaneity	NOUN
emaj-348	203	24	,	,	PUNCT
emaj-348	203	25	and	and	CCONJ
emaj-348	203	26	measurement	measurement	NOUN
emaj-348	203	27	errors	error	NOUN
emaj-348	203	28	.	.	PUNCT
emaj-348	204	1	to	to	PART
emaj-348	204	2	mitigate	mitigate	VERB
emaj-348	204	3	the	the	DET
emaj-348	204	4	risk	risk	NOUN
emaj-348	204	5	of	of	ADP
emaj-348	204	6	producing	produce	VERB
emaj-348	204	7	significantly	significantly	ADV
emaj-348	204	8	biased	biased	ADJ
emaj-348	204	9	estimates	estimate	NOUN
emaj-348	204	10	,	,	PUNCT
emaj-348	204	11	orthogonal	orthogonal	ADJ
emaj-348	204	12	conditions	condition	NOUN
emaj-348	204	13	were	be	AUX
emaj-348	204	14	imposed	impose	VERB
emaj-348	204	15	on	on	ADP
emaj-348	204	16	the	the	DET
emaj-348	204	17	variancecovariance	variancecovariance	NOUN
emaj-348	204	18	matrix	matrix	NOUN
emaj-348	204	19	,	,	PUNCT
emaj-348	204	20	as	as	SCONJ
emaj-348	204	21	recommended	recommend	VERB
emaj-348	204	22	by	by	ADP
emaj-348	204	23	(	(	PUNCT
emaj-348	204	24	arellano	arellano	PROPN
emaj-348	204	25	and	and	CCONJ
emaj-348	204	26	bond	bond	NOUN
emaj-348	204	27	,	,	PUNCT
emaj-348	204	28	1991	1991	NUM
emaj-348	204	29	)	)	PUNCT
emaj-348	204	30	.	.	PUNCT
emaj-348	205	1	in	in	ADP
emaj-348	205	2	table	table	NOUN
emaj-348	205	3	4	4	NUM
emaj-348	205	4	,	,	PUNCT
emaj-348	205	5	we	we	PRON
emaj-348	205	6	find	find	VERB
emaj-348	205	7	that	that	SCONJ
emaj-348	205	8	eqta	eqta	NOUN
emaj-348	205	9	has	have	VERB
emaj-348	205	10	a	a	DET
emaj-348	205	11	positive	positive	ADJ
emaj-348	205	12	significant	significant	ADJ
emaj-348	205	13	effect	effect	NOUN
emaj-348	205	14	on	on	ADP
emaj-348	205	15	firm	firm	ADJ
emaj-348	205	16	performance	performance	NOUN
emaj-348	205	17	when	when	SCONJ
emaj-348	205	18	measured	measure	VERB
emaj-348	205	19	in	in	ADP
emaj-348	205	20	terms	term	NOUN
emaj-348	205	21	of	of	ADP
emaj-348	205	22	tobq	tobq	NOUN
emaj-348	205	23	(	(	PUNCT
emaj-348	205	24	coeff	coeff	PROPN
emaj-348	205	25	.	.	PUNCT
emaj-348	205	26	:	:	PUNCT
emaj-348	206	1	0.002	0.002	NUM
emaj-348	206	2	;	;	PUNCT
emaj-348	206	3	p	p	X
emaj-348	206	4	-	-	PUNCT
emaj-348	206	5	value	value	NOUN
emaj-348	206	6	:	:	PUNCT
emaj-348	206	7	0.0000	0.0000	NUM
emaj-348	206	8	)	)	PUNCT
emaj-348	206	9	and	and	CCONJ
emaj-348	206	10	reta	reta	PROPN
emaj-348	206	11	(	(	PUNCT
emaj-348	206	12	coeff	coeff	PROPN
emaj-348	206	13	.	.	PUNCT
emaj-348	206	14	:	:	PUNCT
emaj-348	207	1	0.073	0.073	NUM
emaj-348	207	2	;	;	PUNCT
emaj-348	207	3	p	p	X
emaj-348	207	4	-	-	PUNCT
emaj-348	207	5	value	value	NOUN
emaj-348	207	6	:	:	PUNCT
emaj-348	207	7	0.0000	0.0000	NUM
emaj-348	207	8	)	)	PUNCT
emaj-348	207	9	for	for	ADP
emaj-348	207	10	the	the	DET
emaj-348	207	11	gmm	gmm	PROPN
emaj-348	207	12	step	step	PROPN
emaj-348	207	13	ii	ii	PROPN
emaj-348	207	14	model	model	NOUN
emaj-348	207	15	.	.	PUNCT
emaj-348	208	1	this	this	PRON
emaj-348	208	2	indicates	indicate	VERB
emaj-348	208	3	that	that	SCONJ
emaj-348	208	4	the	the	DET
emaj-348	208	5	equity	equity	NOUN
emaj-348	208	6	-	-	PUNCT
emaj-348	208	7	to	to	ADP
emaj-348	208	8	-	-	PUNCT
emaj-348	208	9	total	total	NOUN
emaj-348	208	10	-	-	PUNCT
emaj-348	208	11	assets	asset	NOUN
emaj-348	208	12	ratio	ratio	NOUN
emaj-348	208	13	(	(	PUNCT
emaj-348	208	14	eqta	eqta	NOUN
emaj-348	208	15	)	)	PUNCT
emaj-348	208	16	has	have	VERB
emaj-348	208	17	a	a	DET
emaj-348	208	18	significant	significant	ADJ
emaj-348	208	19	positive	positive	ADJ
emaj-348	208	20	impact	impact	NOUN
emaj-348	208	21	on	on	ADP
emaj-348	208	22	firm	firm	ADJ
emaj-348	208	23	performance	performance	NOUN
emaj-348	208	24	,	,	PUNCT
emaj-348	208	25	both	both	CCONJ
emaj-348	208	26	in	in	ADP
emaj-348	208	27	terms	term	NOUN
emaj-348	208	28	of	of	ADP
emaj-348	208	29	market	market	NOUN
emaj-348	208	30	value	value	NOUN
emaj-348	208	31	(	(	PUNCT
emaj-348	208	32	measured	measure	VERB
emaj-348	208	33	by	by	ADP
emaj-348	208	34	tobin	tobin	PROPN
emaj-348	208	35	's	's	PART
emaj-348	208	36	q	q	NOUN
emaj-348	208	37	)	)	PUNCT
emaj-348	208	38	and	and	CCONJ
emaj-348	208	39	profitability	profitability	NOUN
emaj-348	208	40	(	(	PUNCT
emaj-348	208	41	measured	measure	VERB
emaj-348	208	42	by	by	ADP
emaj-348	208	43	return	return	NOUN
emaj-348	208	44	on	on	ADP
emaj-348	208	45	assets	asset	NOUN
emaj-348	208	46	reta	reta	PROPN
emaj-348	208	47	)	)	PUNCT
emaj-348	208	48	.	.	PUNCT
emaj-348	209	1	these	these	DET
emaj-348	209	2	results	result	NOUN
emaj-348	209	3	suggest	suggest	VERB
emaj-348	209	4	that	that	SCONJ
emaj-348	209	5	a	a	DET
emaj-348	209	6	higher	high	ADJ
emaj-348	209	7	equity	equity	NOUN
emaj-348	209	8	ratio	ratio	NOUN
emaj-348	209	9	improves	improve	VERB
emaj-348	209	10	performance	performance	NOUN
emaj-348	209	11	by	by	ADP
emaj-348	209	12	reducing	reduce	VERB
emaj-348	209	13	the	the	DET
emaj-348	209	14	risk	risk	NOUN
emaj-348	209	15	of	of	ADP
emaj-348	209	16	mismanagement	mismanagement	NOUN
emaj-348	209	17	,	,	PUNCT
emaj-348	209	18	aligning	align	VERB
emaj-348	209	19	with	with	ADP
emaj-348	209	20	studies	study	NOUN
emaj-348	209	21	by	by	ADP
emaj-348	209	22	(	(	PUNCT
emaj-348	209	23	wojewodzki	wojewodzki	NOUN
emaj-348	209	24	,	,	PUNCT
emaj-348	209	25	volume	volume	NOUN
emaj-348	209	26	14	14	NUM
emaj-348	209	27	no	no	DET
emaj-348	209	28	2	2	NUM
emaj-348	209	29	(	(	PUNCT
emaj-348	209	30	2024	2024	NUM
emaj-348	209	31	)	)	PUNCT
emaj-348	209	32	|	|	ADV
emaj-348	209	33	issn	issn	VERB
emaj-348	209	34	2158	2158	NUM
emaj-348	209	35	-	-	SYM
emaj-348	209	36	8708	8708	NUM
emaj-348	209	37	(	(	PUNCT
emaj-348	209	38	online	online	NOUN
emaj-348	209	39	)	)	PUNCT
emaj-348	209	40	|	|	ADV
emaj-348	209	41	doi	doi	X
emaj-348	209	42	10.5195	10.5195	NUM
emaj-348	209	43	/	/	SYM
emaj-348	209	44	emaj.2024.348	emaj.2024.348	NOUN
emaj-348	209	45	|	|	NOUN
emaj-348	209	46	http://emaj.pitt.edu	http://emaj.pitt.edu	VERB
emaj-348	209	47	idorenyin	idorenyin	PROPN
emaj-348	209	48	okon	okon	PROPN
emaj-348	209	49	,	,	PUNCT
emaj-348	209	50	ozele	ozele	PROPN
emaj-348	209	51	clement	clement	PROPN
emaj-348	209	52	emerging	emerge	VERB
emaj-348	209	53	markets	market	NOUN
emaj-348	209	54	journal	journal	PROPN
emaj-348	209	55	page	page	NOUN
emaj-348	209	56	|41|	|41|	NOUN
emaj-348	209	57	boateng	boateng	PROPN
emaj-348	209	58	and	and	CCONJ
emaj-348	209	59	brahma	brahma	NOUN
emaj-348	209	60	,	,	PUNCT
emaj-348	209	61	2020	2020	NUM
emaj-348	209	62	;	;	PUNCT
emaj-348	209	63	mavruk	mavruk	NOUN
emaj-348	209	64	and	and	CCONJ
emaj-348	209	65	sjögren	sjögren	NOUN
emaj-348	209	66	,	,	PUNCT
emaj-348	209	67	2021	2021	NUM
emaj-348	209	68	)	)	PUNCT
emaj-348	209	69	.	.	PUNCT
emaj-348	210	1	our	our	PRON
emaj-348	210	2	findings	finding	NOUN
emaj-348	210	3	support	support	VERB
emaj-348	210	4	the	the	DET
emaj-348	210	5	trade	trade	NOUN
emaj-348	210	6	-	-	PUNCT
emaj-348	210	7	off	off	ADP
emaj-348	210	8	theory	theory	NOUN
emaj-348	210	9	suggesting	suggest	VERB
emaj-348	210	10	that	that	SCONJ
emaj-348	210	11	nigerian	nigerian	ADJ
emaj-348	210	12	firms	firm	NOUN
emaj-348	210	13	prioritize	prioritize	VERB
emaj-348	210	14	financial	financial	ADJ
emaj-348	210	15	stability	stability	NOUN
emaj-348	210	16	over	over	ADP
emaj-348	210	17	leveraging	leverage	VERB
emaj-348	210	18	tax	tax	NOUN
emaj-348	210	19	benefits	benefit	NOUN
emaj-348	210	20	through	through	ADP
emaj-348	210	21	debt	debt	NOUN
emaj-348	210	22	.	.	PUNCT
emaj-348	211	1	this	this	DET
emaj-348	211	2	approach	approach	NOUN
emaj-348	211	3	mitigates	mitigate	VERB
emaj-348	211	4	risks	risk	NOUN
emaj-348	211	5	associated	associate	VERB
emaj-348	211	6	with	with	ADP
emaj-348	211	7	volatile	volatile	ADJ
emaj-348	211	8	economic	economic	ADJ
emaj-348	211	9	conditions	condition	NOUN
emaj-348	211	10	and	and	CCONJ
emaj-348	211	11	poor	poor	ADJ
emaj-348	211	12	infrastructure	infrastructure	NOUN
emaj-348	211	13	,	,	PUNCT
emaj-348	211	14	prevalent	prevalent	ADJ
emaj-348	211	15	in	in	ADP
emaj-348	211	16	nigeria	nigeria	PROPN
emaj-348	211	17	,	,	PUNCT
emaj-348	211	18	which	which	PRON
emaj-348	211	19	can	can	AUX
emaj-348	211	20	exacerbate	exacerbate	VERB
emaj-348	211	21	financial	financial	ADJ
emaj-348	211	22	distress	distress	NOUN
emaj-348	211	23	when	when	SCONJ
emaj-348	211	24	relying	rely	VERB
emaj-348	211	25	heavily	heavily	ADV
emaj-348	211	26	on	on	ADP
emaj-348	211	27	debt	debt	NOUN
emaj-348	211	28	financing	financing	NOUN
emaj-348	211	29	.	.	PUNCT
emaj-348	212	1	furthermore	furthermore	ADV
emaj-348	212	2	,	,	PUNCT
emaj-348	212	3	table	table	NOUN
emaj-348	212	4	4	4	NUM
emaj-348	212	5	shows	show	VERB
emaj-348	212	6	that	that	SCONJ
emaj-348	212	7	deta	deta	NOUN
emaj-348	212	8	has	have	VERB
emaj-348	212	9	a	a	DET
emaj-348	212	10	positive	positive	ADJ
emaj-348	212	11	significant	significant	ADJ
emaj-348	212	12	effect	effect	NOUN
emaj-348	212	13	on	on	ADP
emaj-348	212	14	tobq	tobq	PROPN
emaj-348	212	15	(	(	PUNCT
emaj-348	212	16	coeff	coeff	PROPN
emaj-348	212	17	.	.	PUNCT
emaj-348	212	18	:	:	PUNCT
emaj-348	213	1	0.013	0.013	NUM
emaj-348	213	2	;	;	PUNCT
emaj-348	213	3	p	p	X
emaj-348	213	4	-	-	PUNCT
emaj-348	213	5	value	value	NOUN
emaj-348	213	6	:	:	PUNCT
emaj-348	213	7	0.0000	0.0000	NUM
emaj-348	213	8	)	)	PUNCT
emaj-348	213	9	but	but	CCONJ
emaj-348	213	10	has	have	VERB
emaj-348	213	11	a	a	DET
emaj-348	213	12	negative	negative	ADJ
emaj-348	213	13	significant	significant	ADJ
emaj-348	213	14	effect	effect	NOUN
emaj-348	213	15	on	on	ADP
emaj-348	213	16	reta	reta	X
emaj-348	213	17	(	(	PUNCT
emaj-348	213	18	coeff	coeff	PROPN
emaj-348	213	19	.	.	PUNCT
emaj-348	213	20	:	:	PUNCT
emaj-348	214	1	-0.208	-0.208	X
emaj-348	214	2	;	;	PUNCT
emaj-348	214	3	p	p	X
emaj-348	214	4	-	-	PUNCT
emaj-348	214	5	value	value	NOUN
emaj-348	214	6	:	:	PUNCT
emaj-348	214	7	0.0000	0.0000	NUM
emaj-348	214	8	)	)	PUNCT
emaj-348	214	9	.	.	PUNCT
emaj-348	215	1	our	our	PRON
emaj-348	215	2	findings	finding	NOUN
emaj-348	215	3	indicate	indicate	VERB
emaj-348	215	4	that	that	SCONJ
emaj-348	215	5	while	while	SCONJ
emaj-348	215	6	debt	debt	NOUN
emaj-348	215	7	-	-	PUNCT
emaj-348	215	8	to	to	ADP
emaj-348	215	9	-	-	PUNCT
emaj-348	215	10	asset	asset	NOUN
emaj-348	215	11	ratio	ratio	NOUN
emaj-348	215	12	(	(	PUNCT
emaj-348	215	13	deta	deta	NOUN
emaj-348	215	14	)	)	PUNCT
emaj-348	215	15	significantly	significantly	ADV
emaj-348	215	16	enhances	enhance	VERB
emaj-348	215	17	firm	firm	ADJ
emaj-348	215	18	performance	performance	NOUN
emaj-348	215	19	in	in	ADP
emaj-348	215	20	terms	term	NOUN
emaj-348	215	21	of	of	ADP
emaj-348	215	22	market	market	NOUN
emaj-348	215	23	value	value	NOUN
emaj-348	215	24	(	(	PUNCT
emaj-348	215	25	measured	measure	VERB
emaj-348	215	26	by	by	ADP
emaj-348	215	27	tobin	tobin	PROPN
emaj-348	215	28	’s	’s	PART
emaj-348	215	29	q	q	NOUN
emaj-348	215	30	)	)	PUNCT
emaj-348	215	31	,	,	PUNCT
emaj-348	215	32	it	it	PRON
emaj-348	215	33	has	have	VERB
emaj-348	215	34	a	a	DET
emaj-348	215	35	detrimental	detrimental	ADJ
emaj-348	215	36	effect	effect	NOUN
emaj-348	215	37	on	on	ADP
emaj-348	215	38	profitability	profitability	NOUN
emaj-348	215	39	(	(	PUNCT
emaj-348	215	40	measured	measure	VERB
emaj-348	215	41	by	by	ADP
emaj-348	215	42	return	return	NOUN
emaj-348	215	43	on	on	ADP
emaj-348	215	44	assets	asset	NOUN
emaj-348	215	45	roa	roa	PROPN
emaj-348	215	46	)	)	PUNCT
emaj-348	215	47	.	.	PUNCT
emaj-348	216	1	this	this	DET
emaj-348	216	2	result	result	NOUN
emaj-348	216	3	aligns	align	VERB
emaj-348	216	4	with	with	ADP
emaj-348	216	5	(	(	PUNCT
emaj-348	216	6	zhang	zhang	X
emaj-348	216	7	et	et	PROPN
emaj-348	216	8	al	al	PROPN
emaj-348	216	9	.	.	PROPN
emaj-348	216	10	,	,	PUNCT
emaj-348	216	11	2022	2022	NUM
emaj-348	216	12	)	)	PUNCT
emaj-348	216	13	,	,	PUNCT
emaj-348	216	14	who	who	PRON
emaj-348	216	15	noted	note	VERB
emaj-348	216	16	that	that	SCONJ
emaj-348	216	17	excessive	excessive	ADJ
emaj-348	216	18	debt	debt	NOUN
emaj-348	216	19	can	can	AUX
emaj-348	216	20	place	place	VERB
emaj-348	216	21	strain	strain	VERB
emaj-348	216	22	on	on	ADP
emaj-348	216	23	a	a	DET
emaj-348	216	24	firm	firm	NOUN
emaj-348	216	25	's	's	PART
emaj-348	216	26	profitability	profitability	NOUN
emaj-348	216	27	,	,	PUNCT
emaj-348	216	28	even	even	ADV
emaj-348	216	29	though	though	SCONJ
emaj-348	216	30	it	it	PRON
emaj-348	216	31	may	may	AUX
emaj-348	216	32	signal	signal	VERB
emaj-348	216	33	growth	growth	NOUN
emaj-348	216	34	potential	potential	NOUN
emaj-348	216	35	reflected	reflect	VERB
emaj-348	216	36	in	in	ADP
emaj-348	216	37	market	market	NOUN
emaj-348	216	38	value	value	NOUN
emaj-348	216	39	.	.	PUNCT
emaj-348	217	1	in	in	ADP
emaj-348	217	2	the	the	DET
emaj-348	217	3	nigerian	nigerian	ADJ
emaj-348	217	4	context	context	NOUN
emaj-348	217	5	,	,	PUNCT
emaj-348	217	6	where	where	SCONJ
emaj-348	217	7	firms	firm	NOUN
emaj-348	217	8	face	face	VERB
emaj-348	217	9	high	high	ADJ
emaj-348	217	10	operational	operational	ADJ
emaj-348	217	11	costs	cost	NOUN
emaj-348	217	12	and	and	CCONJ
emaj-348	217	13	economic	economic	ADJ
emaj-348	217	14	volatility	volatility	NOUN
emaj-348	217	15	,	,	PUNCT
emaj-348	217	16	this	this	DET
emaj-348	217	17	dual	dual	ADJ
emaj-348	217	18	effect	effect	NOUN
emaj-348	217	19	is	be	AUX
emaj-348	217	20	particularly	particularly	ADV
emaj-348	217	21	relevant	relevant	ADJ
emaj-348	217	22	.	.	PUNCT
emaj-348	218	1	high	high	ADJ
emaj-348	218	2	debt	debt	NOUN
emaj-348	218	3	levels	level	NOUN
emaj-348	218	4	can	can	AUX
emaj-348	218	5	be	be	AUX
emaj-348	218	6	used	use	VERB
emaj-348	218	7	to	to	PART
emaj-348	218	8	capitalize	capitalize	VERB
emaj-348	218	9	on	on	ADP
emaj-348	218	10	growth	growth	NOUN
emaj-348	218	11	opportunities	opportunity	NOUN
emaj-348	218	12	and	and	CCONJ
emaj-348	218	13	benefit	benefit	VERB
emaj-348	218	14	from	from	ADP
emaj-348	218	15	tax	tax	NOUN
emaj-348	218	16	shields	shield	NOUN
emaj-348	218	17	,	,	PUNCT
emaj-348	218	18	as	as	SCONJ
emaj-348	218	19	suggested	suggest	VERB
emaj-348	218	20	by	by	ADP
emaj-348	218	21	the	the	DET
emaj-348	218	22	trade	trade	NOUN
emaj-348	218	23	-	-	PUNCT
emaj-348	218	24	off	off	ADP
emaj-348	218	25	theory	theory	NOUN
emaj-348	218	26	.	.	PUNCT
emaj-348	219	1	however	however	ADV
emaj-348	219	2	,	,	PUNCT
emaj-348	219	3	the	the	DET
emaj-348	219	4	financial	financial	ADJ
emaj-348	219	5	strain	strain	NOUN
emaj-348	219	6	of	of	ADP
emaj-348	219	7	servicing	service	VERB
emaj-348	219	8	debt	debt	NOUN
emaj-348	219	9	,	,	PUNCT
emaj-348	219	10	especially	especially	ADV
emaj-348	219	11	in	in	ADP
emaj-348	219	12	an	an	DET
emaj-348	219	13	environment	environment	NOUN
emaj-348	219	14	with	with	ADP
emaj-348	219	15	fluctuating	fluctuate	VERB
emaj-348	219	16	economic	economic	ADJ
emaj-348	219	17	conditions	condition	NOUN
emaj-348	219	18	,	,	PUNCT
emaj-348	219	19	can	can	AUX
emaj-348	219	20	erode	erode	VERB
emaj-348	219	21	profitability	profitability	NOUN
emaj-348	219	22	.	.	PUNCT
emaj-348	220	1	furthermore	furthermore	ADV
emaj-348	220	2	,	,	PUNCT
emaj-348	220	3	results	result	NOUN
emaj-348	220	4	from	from	ADP
emaj-348	220	5	table	table	NOUN
emaj-348	220	6	3	3	NUM
emaj-348	220	7	indicate	indicate	VERB
emaj-348	220	8	that	that	SCONJ
emaj-348	220	9	dete	dete	PROPN
emaj-348	220	10	has	have	VERB
emaj-348	220	11	a	a	DET
emaj-348	220	12	negative	negative	ADJ
emaj-348	220	13	insignificant	insignificant	ADJ
emaj-348	220	14	effect	effect	NOUN
emaj-348	220	15	on	on	ADP
emaj-348	220	16	tobin	tobin	PROPN
emaj-348	220	17	q	q	PROPN
emaj-348	220	18	(	(	PUNCT
emaj-348	220	19	coeff	coeff	PROPN
emaj-348	220	20	.	.	PUNCT
emaj-348	220	21	:	:	PUNCT
emaj-348	221	1	-0.000	-0.000	ADV
emaj-348	221	2	;	;	PUNCT
emaj-348	221	3	p	p	X
emaj-348	221	4	-	-	PUNCT
emaj-348	221	5	value	value	NOUN
emaj-348	221	6	:	:	PUNCT
emaj-348	221	7	0.089	0.089	NUM
emaj-348	221	8	)	)	PUNCT
emaj-348	221	9	but	but	CCONJ
emaj-348	221	10	a	a	DET
emaj-348	221	11	positive	positive	ADJ
emaj-348	221	12	significant	significant	ADJ
emaj-348	221	13	effect	effect	NOUN
emaj-348	221	14	on	on	ADP
emaj-348	221	15	reta	reta	X
emaj-348	221	16	(	(	PUNCT
emaj-348	221	17	coeff	coeff	PROPN
emaj-348	221	18	.	.	PUNCT
emaj-348	221	19	:	:	PUNCT
emaj-348	222	1	0.029	0.029	NUM
emaj-348	222	2	;	;	PUNCT
emaj-348	222	3	p	p	X
emaj-348	222	4	-	-	PUNCT
emaj-348	222	5	value	value	NOUN
emaj-348	222	6	:	:	PUNCT
emaj-348	222	7	0.000	0.000	NUM
emaj-348	222	8	)	)	PUNCT
emaj-348	222	9	.	.	PUNCT
emaj-348	223	1	specifically	specifically	ADV
emaj-348	223	2	,	,	PUNCT
emaj-348	223	3	we	we	PRON
emaj-348	223	4	show	show	VERB
emaj-348	223	5	that	that	SCONJ
emaj-348	223	6	while	while	SCONJ
emaj-348	223	7	dete	dete	PROPN
emaj-348	223	8	appears	appear	VERB
emaj-348	223	9	to	to	PART
emaj-348	223	10	insignificantly	insignificantly	ADV
emaj-348	223	11	reduce	reduce	VERB
emaj-348	223	12	the	the	DET
emaj-348	223	13	market	market	NOUN
emaj-348	223	14	performance	performance	NOUN
emaj-348	223	15	of	of	ADP
emaj-348	223	16	firms	firm	NOUN
emaj-348	223	17	in	in	ADP
emaj-348	223	18	nigeria	nigeria	PROPN
emaj-348	223	19	,	,	PUNCT
emaj-348	223	20	dete	dete	PROPN
emaj-348	223	21	significantly	significantly	ADV
emaj-348	223	22	improves	improve	VERB
emaj-348	223	23	firm	firm	ADJ
emaj-348	223	24	profitability	profitability	NOUN
emaj-348	223	25	.	.	PUNCT
emaj-348	224	1	our	our	PRON
emaj-348	224	2	results	result	NOUN
emaj-348	224	3	support	support	VERB
emaj-348	224	4	the	the	DET
emaj-348	224	5	trade	trade	NOUN
emaj-348	224	6	-	-	PUNCT
emaj-348	224	7	off	off	ADP
emaj-348	224	8	theory	theory	NOUN
emaj-348	224	9	indicating	indicate	VERB
emaj-348	224	10	that	that	SCONJ
emaj-348	224	11	while	while	SCONJ
emaj-348	224	12	debt	debt	NOUN
emaj-348	224	13	enhances	enhance	VERB
emaj-348	224	14	profitability	profitability	NOUN
emaj-348	224	15	through	through	ADP
emaj-348	224	16	tax	tax	NOUN
emaj-348	224	17	shields	shield	NOUN
emaj-348	224	18	,	,	PUNCT
emaj-348	224	19	excessive	excessive	ADJ
emaj-348	224	20	debt	debt	NOUN
emaj-348	224	21	increases	increase	VERB
emaj-348	224	22	the	the	DET
emaj-348	224	23	risk	risk	NOUN
emaj-348	224	24	of	of	ADP
emaj-348	224	25	financial	financial	ADJ
emaj-348	224	26	distress	distress	NOUN
emaj-348	224	27	,	,	PUNCT
emaj-348	224	28	which	which	PRON
emaj-348	224	29	can	can	AUX
emaj-348	224	30	reduce	reduce	VERB
emaj-348	224	31	market	market	NOUN
emaj-348	224	32	performance	performance	NOUN
emaj-348	224	33	.	.	PUNCT
emaj-348	225	1	this	this	PRON
emaj-348	225	2	is	be	AUX
emaj-348	225	3	consistent	consistent	ADJ
emaj-348	225	4	with	with	ADP
emaj-348	225	5	myers	myer	NOUN
emaj-348	225	6	'	'	PART
emaj-348	225	7	(	(	PUNCT
emaj-348	225	8	1977	1977	NUM
emaj-348	225	9	)	)	PUNCT
emaj-348	225	10	"	"	PUNCT
emaj-348	225	11	underinvestment	underinvestment	NOUN
emaj-348	225	12	"	"	PUNCT
emaj-348	225	13	or	or	CCONJ
emaj-348	225	14	"	"	PUNCT
emaj-348	225	15	debt	debt	NOUN
emaj-348	225	16	overhang	overhang	NOUN
emaj-348	225	17	"	"	PUNCT
emaj-348	225	18	problem	problem	NOUN
emaj-348	225	19	,	,	PUNCT
emaj-348	225	20	where	where	SCONJ
emaj-348	225	21	firms	firm	NOUN
emaj-348	225	22	with	with	ADP
emaj-348	225	23	high	high	ADJ
emaj-348	225	24	debt	debt	NOUN
emaj-348	225	25	may	may	AUX
emaj-348	225	26	underinvest	underinv	ADJ
emaj-348	225	27	in	in	ADP
emaj-348	225	28	growth	growth	NOUN
emaj-348	225	29	opportunities	opportunity	NOUN
emaj-348	225	30	,	,	PUNCT
emaj-348	225	31	leading	lead	VERB
emaj-348	225	32	to	to	ADP
emaj-348	225	33	diminished	diminish	VERB
emaj-348	225	34	market	market	NOUN
emaj-348	225	35	confidence	confidence	NOUN
emaj-348	225	36	.	.	PUNCT
emaj-348	226	1	furthermore	furthermore	ADV
emaj-348	226	2	,	,	PUNCT
emaj-348	226	3	agency	agency	NOUN
emaj-348	226	4	theory	theory	NOUN
emaj-348	226	5	highlights	highlight	VERB
emaj-348	226	6	conflicts	conflict	NOUN
emaj-348	226	7	between	between	ADP
emaj-348	226	8	debt	debt	NOUN
emaj-348	226	9	and	and	CCONJ
emaj-348	226	10	equity	equity	NOUN
emaj-348	226	11	investors	investor	NOUN
emaj-348	226	12	,	,	PUNCT
emaj-348	226	13	particularly	particularly	ADV
emaj-348	226	14	under	under	ADP
emaj-348	226	15	default	default	NOUN
emaj-348	226	16	risks	risk	NOUN
emaj-348	226	17	,	,	PUNCT
emaj-348	226	18	as	as	SCONJ
emaj-348	226	19	noted	note	VERB
emaj-348	226	20	by	by	ADP
emaj-348	226	21	(	(	PUNCT
emaj-348	226	22	le	le	X
emaj-348	226	23	and	and	CCONJ
emaj-348	226	24	phan	phan	PROPN
emaj-348	226	25	,	,	PUNCT
emaj-348	226	26	2017	2017	NUM
emaj-348	226	27	)	)	PUNCT
emaj-348	226	28	and	and	CCONJ
emaj-348	226	29	(	(	PUNCT
emaj-348	226	30	farhan	farhan	PROPN
emaj-348	226	31	et	et	PROPN
emaj-348	226	32	al	al	PROPN
emaj-348	226	33	.	.	PROPN
emaj-348	226	34	,	,	PUNCT
emaj-348	226	35	2020	2020	NUM
emaj-348	226	36	)	)	PUNCT
emaj-348	226	37	,	,	PUNCT
emaj-348	226	38	which	which	PRON
emaj-348	226	39	can	can	AUX
emaj-348	226	40	exacerbate	exacerbate	VERB
emaj-348	226	41	these	these	DET
emaj-348	226	42	negative	negative	ADJ
emaj-348	226	43	effects	effect	NOUN
emaj-348	226	44	on	on	ADP
emaj-348	226	45	market	market	NOUN
emaj-348	226	46	performance	performance	NOUN
emaj-348	226	47	.	.	PUNCT
emaj-348	227	1	this	this	PRON
emaj-348	227	2	aligns	align	VERB
emaj-348	227	3	with	with	ADP
emaj-348	227	4	the	the	DET
emaj-348	227	5	findings	finding	NOUN
emaj-348	227	6	of	of	ADP
emaj-348	227	7	(	(	PUNCT
emaj-348	227	8	dinh	dinh	PROPN
emaj-348	227	9	,	,	PUNCT
emaj-348	227	10	nguyen	nguyen	NOUN
emaj-348	227	11	and	and	CCONJ
emaj-348	227	12	hosseini	hosseini	PROPN
emaj-348	227	13	,	,	PUNCT
emaj-348	227	14	2019	2019	NUM
emaj-348	227	15	)	)	PUNCT
emaj-348	227	16	,	,	PUNCT
emaj-348	227	17	who	who	PRON
emaj-348	227	18	noted	note	VERB
emaj-348	227	19	that	that	SCONJ
emaj-348	227	20	agency	agency	NOUN
emaj-348	227	21	costs	cost	NOUN
emaj-348	227	22	can	can	AUX
emaj-348	227	23	arise	arise	VERB
emaj-348	227	24	from	from	ADP
emaj-348	227	25	conflicts	conflict	NOUN
emaj-348	227	26	between	between	ADP
emaj-348	227	27	debt	debt	NOUN
emaj-348	227	28	and	and	CCONJ
emaj-348	227	29	equity	equity	NOUN
emaj-348	227	30	investors	investor	NOUN
emaj-348	227	31	.	.	PUNCT
emaj-348	228	1	table	table	NOUN
emaj-348	228	2	4	4	NUM
emaj-348	228	3	:	:	PUNCT
emaj-348	228	4	regression	regression	VERB
emaj-348	228	5	analyses	analysis	NOUN
emaj-348	228	6	of	of	ADP
emaj-348	228	7	capital	capital	NOUN
emaj-348	228	8	structure	structure	NOUN
emaj-348	228	9	and	and	CCONJ
emaj-348	228	10	firm	firm	ADJ
emaj-348	228	11	performance	performance	NOUN
emaj-348	228	12	nexus	nexus	NOUN
emaj-348	228	13	source	source	NOUN
emaj-348	228	14	:	:	PUNCT
emaj-348	228	15	stata	stata	PROPN
emaj-348	228	16	software	software	PROPN
emaj-348	228	17	output	output	NOUN
emaj-348	228	18	note	note	NOUN
emaj-348	228	19	:	:	PUNCT
emaj-348	228	20	(	(	PUNCT
emaj-348	228	21	1	1	X
emaj-348	228	22	)	)	PUNCT
emaj-348	228	23	bracket	bracket	NOUN
emaj-348	228	24	{	{	PUNCT
emaj-348	228	25	}	}	PUNCT
emaj-348	228	26	are	be	AUX
emaj-348	228	27	p	p	NOUN
emaj-348	228	28	-	-	PUNCT
emaj-348	228	29	values	value	NOUN
emaj-348	228	30	:	:	PUNCT
emaj-348	228	31	(	(	PUNCT
emaj-348	228	32	2	2	X
emaj-348	228	33	)	)	PUNCT
emaj-348	228	34	*	*	PUNCT
emaj-348	229	1	*	*	PUNCT
emaj-348	229	2	,	,	PUNCT
emaj-348	229	3	*	*	PUNCT
emaj-348	229	4	*	*	PUNCT
emaj-348	229	5	*	*	PUNCT
emaj-348	229	6	,	,	PUNCT
emaj-348	229	7	implies	imply	VERB
emaj-348	229	8	statistical	statistical	ADJ
emaj-348	229	9	significance	significance	NOUN
emaj-348	229	10	at	at	ADP
emaj-348	229	11	5	5	NUM
emaj-348	229	12	%	%	NOUN
emaj-348	229	13	and	and	CCONJ
emaj-348	229	14	1	1	NUM
emaj-348	229	15	%	%	NOUN
emaj-348	229	16	levels	level	NOUN
emaj-348	229	17	respectively	respectively	ADV
emaj-348	229	18	however	however	ADV
emaj-348	229	19	,	,	PUNCT
emaj-348	229	20	table	table	NOUN
emaj-348	229	21	4	4	NUM
emaj-348	229	22	shows	show	VERB
emaj-348	229	23	mixed	mixed	ADJ
emaj-348	229	24	effect	effect	NOUN
emaj-348	229	25	of	of	ADP
emaj-348	229	26	female	female	ADJ
emaj-348	229	27	board	board	NOUN
emaj-348	229	28	presence	presence	NOUN
emaj-348	229	29	(	(	PUNCT
emaj-348	229	30	fbdp	fbdp	PROPN
emaj-348	229	31	)	)	PUNCT
emaj-348	229	32	on	on	ADP
emaj-348	229	33	the	the	DET
emaj-348	229	34	different	different	ADJ
emaj-348	229	35	measurement	measurement	NOUN
emaj-348	229	36	of	of	ADP
emaj-348	229	37	firm	firm	ADJ
emaj-348	229	38	performance	performance	NOUN
emaj-348	229	39	.	.	PUNCT
emaj-348	230	1	specifically	specifically	ADV
emaj-348	230	2	,	,	PUNCT
emaj-348	230	3	we	we	PRON
emaj-348	230	4	find	find	VERB
emaj-348	230	5	that	that	SCONJ
emaj-348	230	6	fbdp	fbdp	PROPN
emaj-348	230	7	has	have	VERB
emaj-348	230	8	a	a	DET
emaj-348	230	9	negative	negative	ADJ
emaj-348	230	10	insignificant	insignificant	ADJ
emaj-348	230	11	effect	effect	NOUN
emaj-348	230	12	on	on	ADP
emaj-348	230	13	tobq	tobq	PROPN
emaj-348	230	14	(	(	PUNCT
emaj-348	230	15	coeff	coeff	PROPN
emaj-348	230	16	.	.	PUNCT
emaj-348	230	17	:	:	PUNCT
emaj-348	231	1	-0.032	-0.032	NUM
emaj-348	231	2	;	;	PUNCT
emaj-348	231	3	pvalue	pvalue	NOUN
emaj-348	231	4	:	:	PUNCT
emaj-348	231	5	0.103	0.103	NUM
emaj-348	231	6	)	)	PUNCT
emaj-348	231	7	,	,	PUNCT
emaj-348	231	8	but	but	CCONJ
emaj-348	231	9	a	a	DET
emaj-348	231	10	positive	positive	ADJ
emaj-348	231	11	significant	significant	ADJ
emaj-348	231	12	effect	effect	NOUN
emaj-348	231	13	on	on	ADP
emaj-348	231	14	reta	reta	X
emaj-348	231	15	(	(	PUNCT
emaj-348	231	16	coeff	coeff	PROPN
emaj-348	231	17	.	.	PUNCT
emaj-348	231	18	:	:	PUNCT
emaj-348	232	1	3.010	3.010	NUM
emaj-348	232	2	;	;	PUNCT
emaj-348	232	3	p	p	X
emaj-348	232	4	-	-	PUNCT
emaj-348	232	5	value	value	NOUN
emaj-348	232	6	:	:	PUNCT
emaj-348	232	7	0.000	0.000	NUM
emaj-348	232	8	)	)	PUNCT
emaj-348	232	9	.	.	PUNCT
emaj-348	233	1	our	our	PRON
emaj-348	233	2	result	result	NOUN
emaj-348	233	3	indicates	indicate	VERB
emaj-348	233	4	that	that	SCONJ
emaj-348	233	5	the	the	DET
emaj-348	233	6	presence	presence	NOUN
emaj-348	233	7	of	of	ADP
emaj-348	233	8	female	female	ADJ
emaj-348	233	9	board	board	NOUN
emaj-348	233	10	member	member	NOUN
emaj-348	233	11	appears	appear	VERB
emaj-348	233	12	to	to	PART
emaj-348	233	13	significantly	significantly	ADV
emaj-348	233	14	increase	increase	VERB
emaj-348	233	15	return	return	NOUN
emaj-348	233	16	on	on	ADP
emaj-348	233	17	asset	asset	NOUN
emaj-348	233	18	during	during	ADP
emaj-348	233	19	the	the	DET
emaj-348	233	20	period	period	NOUN
emaj-348	233	21	under	under	ADP
emaj-348	233	22	study	study	NOUN
emaj-348	233	23	.	.	PUNCT
emaj-348	234	1	however	however	ADV
emaj-348	234	2	,	,	PUNCT
emaj-348	234	3	we	we	PRON
emaj-348	234	4	show	show	VERB
emaj-348	234	5	that	that	SCONJ
emaj-348	234	6	the	the	DET
emaj-348	234	7	presence	presence	NOUN
emaj-348	234	8	of	of	ADP
emaj-348	234	9	a	a	DET
emaj-348	234	10	female	female	ADJ
emaj-348	234	11	board	board	NOUN
emaj-348	234	12	member	member	NOUN
emaj-348	234	13	insignificantly	insignificantly	ADV
emaj-348	234	14	reduces	reduce	VERB
emaj-348	234	15	the	the	DET
emaj-348	234	16	tobin	tobin	NOUN
emaj-348	234	17	q	q	NOUN
emaj-348	234	18	of	of	ADP
emaj-348	234	19	the	the	DET
emaj-348	234	20	listed	list	VERB
emaj-348	234	21	firms	firm	NOUN
emaj-348	234	22	under	under	ADP
emaj-348	234	23	study	study	NOUN
emaj-348	234	24	.	.	PUNCT
emaj-348	235	1	the	the	DET
emaj-348	235	2	mixed	mixed	ADJ
emaj-348	235	3	result	result	NOUN
emaj-348	235	4	of	of	ADP
emaj-348	235	5	the	the	DET
emaj-348	235	6	effect	effect	NOUN
emaj-348	235	7	of	of	ADP
emaj-348	235	8	female	female	ADJ
emaj-348	235	9	board	board	NOUN
emaj-348	235	10	presence	presence	NOUN
emaj-348	235	11	on	on	ADP
emaj-348	235	12	the	the	DET
emaj-348	235	13	different	different	ADJ
emaj-348	235	14	dimensions	dimension	NOUN
emaj-348	235	15	of	of	ADP
emaj-348	235	16	firm	firm	ADJ
emaj-348	235	17	performance	performance	NOUN
emaj-348	235	18	recorded	record	VERB
emaj-348	235	19	in	in	ADP
emaj-348	235	20	our	our	PRON
emaj-348	235	21	study	study	NOUN
emaj-348	235	22	mirrors	mirror	VERB
emaj-348	235	23	the	the	DET
emaj-348	235	24	theoretical	theoretical	ADJ
emaj-348	235	25	literature	literature	NOUN
emaj-348	235	26	in	in	ADP
emaj-348	235	27	which	which	PRON
emaj-348	235	28	upper	upper	ADJ
emaj-348	235	29	echelons	echelon	NOUN
emaj-348	235	30	(	(	PUNCT
emaj-348	235	31	hambrick	hambrick	VERB
emaj-348	235	32	,	,	PUNCT
emaj-348	235	33	2007	2007	NUM
emaj-348	235	34	)	)	PUNCT
emaj-348	235	35	,	,	PUNCT
emaj-348	235	36	and	and	CCONJ
emaj-348	235	37	agency	agency	NOUN
emaj-348	235	38	theories	theory	NOUN
emaj-348	235	39	(	(	PUNCT
emaj-348	235	40	jensen	jensen	PROPN
emaj-348	235	41	and	and	CCONJ
emaj-348	235	42	meckling	meckling	NOUN
emaj-348	235	43	,	,	PUNCT
emaj-348	235	44	1976	1976	NUM
emaj-348	235	45	)	)	PUNCT
emaj-348	235	46	suggest	suggest	VERB
emaj-348	235	47	that	that	SCONJ
emaj-348	235	48	firms	firm	NOUN
emaj-348	235	49	with	with	ADP
emaj-348	235	50	gender	gender	NOUN
emaj-348	235	51	diverse	diverse	ADJ
emaj-348	235	52	boards	board	NOUN
emaj-348	235	53	might	might	AUX
emaj-348	235	54	perform	perform	VERB
emaj-348	235	55	better	well	ADV
emaj-348	235	56	,	,	PUNCT
emaj-348	235	57	whereas	whereas	SCONJ
emaj-348	235	58	,	,	PUNCT
emaj-348	235	59	role	role	NOUN
emaj-348	235	60	incongruity	incongruity	NOUN
emaj-348	235	61	theory	theory	NOUN
emaj-348	235	62	(	(	PUNCT
emaj-348	235	63	eagly	eagly	ADV
emaj-348	235	64	and	and	CCONJ
emaj-348	235	65	karau	karau	ADJ
emaj-348	235	66	,	,	PUNCT
emaj-348	235	67	2002	2002	NUM
emaj-348	235	68	)	)	PUNCT
emaj-348	235	69	and	and	CCONJ
emaj-348	235	70	gender	gender	NOUN
emaj-348	235	71	stereotyping	stereotyping	NOUN
emaj-348	235	72	on	on	ADP
emaj-348	235	73	the	the	DET
emaj-348	235	74	part	part	NOUN
emaj-348	235	75	of	of	ADP
emaj-348	235	76	investors	investor	NOUN
emaj-348	235	77	(	(	PUNCT
emaj-348	235	78	haslam	haslam	PROPN
emaj-348	235	79	et	et	PROPN
emaj-348	235	80	al	al	PROPN
emaj-348	235	81	.	.	PROPN
emaj-348	235	82	,	,	PUNCT
emaj-348	235	83	2010	2010	NUM
emaj-348	235	84	)	)	PUNCT
emaj-348	235	85	suggest	suggest	VERB
emaj-348	235	86	a	a	DET
emaj-348	235	87	negative	negative	ADJ
emaj-348	235	88	relationship	relationship	NOUN
emaj-348	235	89	between	between	ADP
emaj-348	235	90	women	woman	NOUN
emaj-348	235	91	directors	director	NOUN
emaj-348	235	92	and	and	CCONJ
emaj-348	235	93	market	market	NOUN
emaj-348	235	94	-	-	PUNCT
emaj-348	235	95	based	base	VERB
emaj-348	235	96	measures	measure	NOUN
emaj-348	235	97	of	of	ADP
emaj-348	235	98	firm	firm	ADJ
emaj-348	235	99	performance	performance	NOUN
emaj-348	235	100	.	.	PUNCT
emaj-348	236	1	on	on	ADP
emaj-348	236	2	the	the	DET
emaj-348	236	3	basis	basis	NOUN
emaj-348	236	4	of	of	ADP
emaj-348	236	5	this	this	DET
emaj-348	236	6	mixed	mixed	ADJ
emaj-348	236	7	findings	finding	NOUN
emaj-348	236	8	,	,	PUNCT
emaj-348	236	9	we	we	PRON
emaj-348	236	10	consider	consider	VERB
emaj-348	236	11	the	the	DET
emaj-348	236	12	interaction	interaction	NOUN
emaj-348	236	13	between	between	ADP
emaj-348	236	14	female	female	ADJ
emaj-348	236	15	board	board	NOUN
emaj-348	236	16	director	director	NOUN
emaj-348	236	17	presence	presence	NOUN
emaj-348	236	18	capital	capital	NOUN
emaj-348	236	19	structure	structure	NOUN
emaj-348	236	20	in	in	ADP
emaj-348	236	21	relation	relation	NOUN
emaj-348	236	22	to	to	ADP
emaj-348	236	23	firm	firm	ADJ
emaj-348	236	24	performance	performance	NOUN
emaj-348	236	25	.	.	PUNCT
emaj-348	237	1	furthermore	furthermore	ADV
emaj-348	237	2	,	,	PUNCT
emaj-348	237	3	research	research	NOUN
emaj-348	237	4	has	have	AUX
emaj-348	237	5	shown	show	VERB
emaj-348	237	6	that	that	SCONJ
emaj-348	237	7	gender	gender	NOUN
emaj-348	237	8	diversity	diversity	NOUN
emaj-348	237	9	on	on	ADP
emaj-348	237	10	boards	board	NOUN
emaj-348	237	11	enhances	enhance	VERB
emaj-348	237	12	the	the	DET
emaj-348	237	13	variety	variety	NOUN
emaj-348	237	14	of	of	ADP
emaj-348	237	15	perspectives	perspective	NOUN
emaj-348	237	16	,	,	PUNCT
emaj-348	237	17	which	which	PRON
emaj-348	237	18	can	can	AUX
emaj-348	237	19	lead	lead	VERB
emaj-348	237	20	to	to	ADP
emaj-348	237	21	better	well	ADJ
emaj-348	237	22	and	and	CCONJ
emaj-348	237	23	more	more	ADV
emaj-348	237	24	balanced	balanced	ADJ
emaj-348	237	25	decision	decision	NOUN
emaj-348	237	26	-	-	PUNCT
emaj-348	237	27	making	making	NOUN
emaj-348	237	28	(	(	PUNCT
emaj-348	237	29	abdullah	abdullah	PROPN
emaj-348	237	30	,	,	PUNCT
emaj-348	237	31	2014	2014	NUM
emaj-348	237	32	;	;	PUNCT
emaj-348	237	33	grosvold	grosvold	ADJ
emaj-348	237	34	,	,	PUNCT
emaj-348	237	35	rayton	rayton	NOUN
emaj-348	237	36	and	and	CCONJ
emaj-348	237	37	brammer	brammer	NOUN
emaj-348	237	38	,	,	PUNCT
emaj-348	237	39	2016	2016	NUM
emaj-348	237	40	;	;	PUNCT
emaj-348	237	41	saeed	saeed	PROPN
emaj-348	237	42	et	et	PROPN
emaj-348	237	43	al	al	PROPN
emaj-348	237	44	.	.	PROPN
emaj-348	237	45	,	,	PUNCT
emaj-348	237	46	2022	2022	NUM
emaj-348	237	47	)	)	PUNCT
emaj-348	237	48	.	.	PUNCT
emaj-348	238	1	this	this	DET
emaj-348	238	2	diversity	diversity	NOUN
emaj-348	238	3	could	could	AUX
emaj-348	238	4	influence	influence	VERB
emaj-348	238	5	how	how	SCONJ
emaj-348	238	6	firms	firm	NOUN
emaj-348	238	7	decide	decide	VERB
emaj-348	238	8	on	on	ADP
emaj-348	238	9	their	their	PRON
emaj-348	238	10	capital	capital	NOUN
emaj-348	238	11	structure	structure	NOUN
emaj-348	238	12	,	,	PUNCT
emaj-348	238	13	such	such	ADJ
emaj-348	238	14	as	as	ADP
emaj-348	238	15	the	the	DET
emaj-348	238	16	mix	mix	NOUN
emaj-348	238	17	of	of	ADP
emaj-348	238	18	debt	debt	NOUN
emaj-348	238	19	and	and	CCONJ
emaj-348	238	20	equity	equity	NOUN
emaj-348	238	21	financing	financing	NOUN
emaj-348	238	22	.	.	PUNCT
emaj-348	239	1	in	in	ADP
emaj-348	239	2	turn	turn	NOUN
emaj-348	239	3	,	,	PUNCT
emaj-348	239	4	this	this	PRON
emaj-348	239	5	may	may	AUX
emaj-348	239	6	affect	affect	VERB
emaj-348	239	7	firm	firm	ADJ
emaj-348	239	8	performance	performance	NOUN
emaj-348	239	9	by	by	ADP
emaj-348	239	10	enabling	enable	VERB
emaj-348	239	11	more	more	ADV
emaj-348	239	12	informed	informed	ADJ
emaj-348	239	13	and	and	CCONJ
emaj-348	239	14	nuanced	nuanced	ADJ
emaj-348	239	15	financial	financial	ADJ
emaj-348	239	16	decisions	decision	NOUN
emaj-348	239	17	,	,	PUNCT
emaj-348	239	18	especially	especially	ADV
emaj-348	239	19	when	when	SCONJ
emaj-348	239	20	dealing	deal	VERB
emaj-348	239	21	with	with	ADP
emaj-348	239	22	complex	complex	ADJ
emaj-348	239	23	capital	capital	NOUN
emaj-348	239	24	structure	structure	NOUN
emaj-348	239	25	issues	issue	NOUN
emaj-348	239	26	(	(	PUNCT
emaj-348	239	27	bajaj	bajaj	PROPN
emaj-348	239	28	,	,	PUNCT
emaj-348	239	29	kashiramka	kashiramka	NOUN
emaj-348	239	30	and	and	CCONJ
emaj-348	239	31	singh	singh	NOUN
emaj-348	239	32	,	,	PUNCT
emaj-348	239	33	2018	2018	NUM
emaj-348	239	34	)	)	PUNCT
emaj-348	239	35	.	.	PUNCT
emaj-348	240	1	in	in	ADP
emaj-348	240	2	table	table	NOUN
emaj-348	240	3	5	5	NUM
emaj-348	240	4	,	,	PUNCT
emaj-348	240	5	our	our	PRON
emaj-348	240	6	result	result	NOUN
emaj-348	240	7	shows	show	VERB
emaj-348	240	8	that	that	SCONJ
emaj-348	240	9	the	the	DET
emaj-348	240	10	interaction	interaction	NOUN
emaj-348	240	11	between	between	ADP
emaj-348	240	12	fbdp	fbdp	PROPN
emaj-348	240	13	and	and	CCONJ
emaj-348	240	14	eqta	eqta	NOUN
emaj-348	240	15	has	have	VERB
emaj-348	240	16	a	a	DET
emaj-348	240	17	negative	negative	ADJ
emaj-348	240	18	and	and	CCONJ
emaj-348	240	19	significant	significant	ADJ
emaj-348	240	20	effect	effect	NOUN
emaj-348	240	21	on	on	ADP
emaj-348	240	22	tobq	tobq	PROPN
emaj-348	240	23	(	(	PUNCT
emaj-348	240	24	coeff	coeff	PROPN
emaj-348	240	25	.	.	PUNCT
emaj-348	240	26	:	:	PUNCT
emaj-348	241	1	-0.002	-0.002	PUNCT
emaj-348	241	2	;	;	PUNCT
emaj-348	241	3	p	p	X
emaj-348	241	4	-	-	PUNCT
emaj-348	241	5	value	value	NOUN
emaj-348	241	6	:	:	PUNCT
emaj-348	241	7	0.000	0.000	NUM
emaj-348	241	8	)	)	PUNCT
emaj-348	241	9	,	,	PUNCT
emaj-348	241	10	but	but	CCONJ
emaj-348	241	11	a	a	DET
emaj-348	241	12	positive	positive	ADJ
emaj-348	241	13	and	and	CCONJ
emaj-348	241	14	significant	significant	ADJ
emaj-348	241	15	effect	effect	NOUN
emaj-348	241	16	on	on	ADP
emaj-348	241	17	reta	reta	X
emaj-348	241	18	(	(	PUNCT
emaj-348	241	19	coeff	coeff	PROPN
emaj-348	241	20	.	.	PUNCT
emaj-348	241	21	:	:	PUNCT
emaj-348	242	1	0.078	0.078	NUM
emaj-348	242	2	;	;	PUNCT
emaj-348	242	3	pvalue	pvalue	NOUN
emaj-348	242	4	:	:	PUNCT
emaj-348	242	5	0.000	0.000	NUM
emaj-348	242	6	)	)	PUNCT
emaj-348	242	7	.	.	PUNCT
emaj-348	243	1	furthermore	furthermore	ADV
emaj-348	243	2	,	,	PUNCT
emaj-348	243	3	the	the	DET
emaj-348	243	4	interaction	interaction	NOUN
emaj-348	243	5	between	between	ADP
emaj-348	243	6	fbdp	fbdp	PROPN
emaj-348	243	7	and	and	CCONJ
emaj-348	243	8	deta	deta	PROPN
emaj-348	243	9	has	have	VERB
emaj-348	243	10	a	a	DET
emaj-348	243	11	positive	positive	ADJ
emaj-348	243	12	and	and	CCONJ
emaj-348	243	13	significant	significant	ADJ
emaj-348	243	14	effect	effect	NOUN
emaj-348	243	15	on	on	ADP
emaj-348	243	16	tobq	tobq	PROPN
emaj-348	243	17	(	(	PUNCT
emaj-348	243	18	coeff	coeff	PROPN
emaj-348	243	19	.	.	PUNCT
emaj-348	244	1	:	:	PUNCT
emaj-348	245	1	0.003	0.003	NUM
emaj-348	245	2	;	;	PUNCT
emaj-348	245	3	p	p	X
emaj-348	245	4	-	-	PUNCT
emaj-348	245	5	value	value	NOUN
emaj-348	245	6	:	:	PUNCT
emaj-348	245	7	0.000	0.000	NUM
emaj-348	245	8	)	)	PUNCT
emaj-348	245	9	,	,	PUNCT
emaj-348	245	10	but	but	CCONJ
emaj-348	245	11	a	a	DET
emaj-348	245	12	negative	negative	ADJ
emaj-348	245	13	and	and	CCONJ
emaj-348	245	14	significant	significant	ADJ
emaj-348	245	15	effect	effect	NOUN
emaj-348	245	16	on	on	ADP
emaj-348	245	17	reta	reta	X
emaj-348	245	18	(	(	PUNCT
emaj-348	245	19	coeff	coeff	PROPN
emaj-348	245	20	.	.	PUNCT
emaj-348	245	21	:	:	PUNCT
emaj-348	246	1	-0.001	-0.001	NUM
emaj-348	246	2	;	;	PUNCT
emaj-348	246	3	p	p	X
emaj-348	246	4	-	-	PUNCT
emaj-348	246	5	value	value	NOUN
emaj-348	246	6	:	:	PUNCT
emaj-348	246	7	0.000	0.000	NUM
emaj-348	246	8	)	)	PUNCT
emaj-348	246	9	.	.	PUNCT
emaj-348	247	1	finally	finally	ADV
emaj-348	247	2	,	,	PUNCT
emaj-348	247	3	our	our	PRON
emaj-348	247	4	result	result	NOUN
emaj-348	247	5	shows	show	VERB
emaj-348	247	6	that	that	SCONJ
emaj-348	247	7	the	the	DET
emaj-348	247	8	interaction	interaction	NOUN
emaj-348	247	9	between	between	ADP
emaj-348	247	10	fbdp	fbdp	PROPN
emaj-348	247	11	and	and	CCONJ
emaj-348	247	12	dete	dete	PROPN
emaj-348	247	13	has	have	VERB
emaj-348	247	14	a	a	DET
emaj-348	247	15	negative	negative	ADJ
emaj-348	247	16	and	and	CCONJ
emaj-348	247	17	significant	significant	ADJ
emaj-348	247	18	volume	volume	NOUN
emaj-348	247	19	14	14	NUM
emaj-348	247	20	no	no	DET
emaj-348	247	21	2	2	NUM
emaj-348	247	22	(	(	PUNCT
emaj-348	247	23	2024	2024	NUM
emaj-348	247	24	)	)	PUNCT
emaj-348	247	25	|	|	ADV
emaj-348	247	26	issn	issn	VERB
emaj-348	247	27	2158	2158	NUM
emaj-348	247	28	-	-	SYM
emaj-348	247	29	8708	8708	NUM
emaj-348	247	30	(	(	PUNCT
emaj-348	247	31	online	online	NOUN
emaj-348	247	32	)	)	PUNCT
emaj-348	247	33	|	|	ADV
emaj-348	247	34	doi	doi	X
emaj-348	247	35	10.5195	10.5195	NUM
emaj-348	247	36	/	/	SYM
emaj-348	247	37	emaj.2024.348	emaj.2024.348	PROPN
emaj-348	247	38	|	|	NOUN
emaj-348	247	39	http://emaj.pitt.edu	http://emaj.pitt.edu	VERB
emaj-348	247	40	female	female	ADJ
emaj-348	247	41	directors	director	NOUN
emaj-348	247	42	’	'	PUNCT
emaj-348	247	43	role	role	NOUN
emaj-348	247	44	on	on	ADP
emaj-348	247	45	capital	capital	NOUN
emaj-348	247	46	structure	structure	NOUN
emaj-348	247	47	and	and	CCONJ
emaj-348	247	48	firm	firm	ADJ
emaj-348	247	49	performance	performance	NOUN
emaj-348	247	50	nexus	nexus	NOUN
emaj-348	247	51	:	:	PUNCT
emaj-348	247	52	new	new	ADJ
emaj-348	247	53	evidence	evidence	NOUN
emaj-348	247	54	from	from	ADP
emaj-348	247	55	an	an	DET
emaj-348	247	56	emerging	emerge	VERB
emaj-348	247	57	market	market	NOUN
emaj-348	247	58	nigeria	nigeria	PROPN
emaj-348	247	59	page	page	NOUN
emaj-348	247	60	|42|	|42|	VERB
emaj-348	247	61	emerging	emerge	VERB
emaj-348	247	62	markets	market	NOUN
emaj-348	247	63	journal	journal	NOUN
emaj-348	247	64	effect	effect	NOUN
emaj-348	247	65	tobq	tobq	PROPN
emaj-348	247	66	(	(	PUNCT
emaj-348	247	67	coeff	coeff	PROPN
emaj-348	247	68	.	.	PUNCT
emaj-348	247	69	:	:	PUNCT
emaj-348	248	1	-0.001	-0.001	NUM
emaj-348	248	2	;	;	PUNCT
emaj-348	248	3	p	p	X
emaj-348	248	4	-	-	PUNCT
emaj-348	248	5	value	value	NOUN
emaj-348	248	6	:	:	PUNCT
emaj-348	248	7	0.026	0.026	NUM
emaj-348	248	8	)	)	PUNCT
emaj-348	248	9	,	,	PUNCT
emaj-348	248	10	but	but	CCONJ
emaj-348	248	11	a	a	DET
emaj-348	248	12	positive	positive	ADJ
emaj-348	248	13	and	and	CCONJ
emaj-348	248	14	significant	significant	ADJ
emaj-348	248	15	effect	effect	NOUN
emaj-348	248	16	on	on	ADP
emaj-348	248	17	reta	reta	X
emaj-348	248	18	(	(	PUNCT
emaj-348	248	19	coeff	coeff	PROPN
emaj-348	248	20	.	.	PUNCT
emaj-348	248	21	:	:	PUNCT
emaj-348	249	1	0.031	0.031	NUM
emaj-348	249	2	;	;	PUNCT
emaj-348	249	3	pvalue	pvalue	NOUN
emaj-348	249	4	:	:	PUNCT
emaj-348	249	5	0.000	0.000	NUM
emaj-348	249	6	)	)	PUNCT
emaj-348	249	7	.	.	PUNCT
emaj-348	250	1	according	accord	VERB
emaj-348	250	2	to	to	ADP
emaj-348	250	3	the	the	DET
emaj-348	250	4	moderation	moderation	NOUN
emaj-348	250	5	framework	framework	NOUN
emaj-348	250	6	proposed	propose	VERB
emaj-348	250	7	by	by	ADP
emaj-348	250	8	(	(	PUNCT
emaj-348	250	9	baron	baron	NOUN
emaj-348	250	10	and	and	CCONJ
emaj-348	250	11	kenny	kenny	PROPN
emaj-348	250	12	,	,	PUNCT
emaj-348	250	13	1986	1986	NUM
emaj-348	250	14	)	)	PUNCT
emaj-348	250	15	,	,	PUNCT
emaj-348	250	16	a	a	DET
emaj-348	250	17	moderating	moderate	VERB
emaj-348	250	18	effect	effect	NOUN
emaj-348	250	19	is	be	AUX
emaj-348	250	20	present	present	ADJ
emaj-348	250	21	if	if	SCONJ
emaj-348	250	22	the	the	DET
emaj-348	250	23	interaction	interaction	NOUN
emaj-348	250	24	terms	term	NOUN
emaj-348	250	25	between	between	ADP
emaj-348	250	26	the	the	DET
emaj-348	250	27	moderator	moderator	NOUN
emaj-348	250	28	and	and	CCONJ
emaj-348	250	29	the	the	DET
emaj-348	250	30	independent	independent	ADJ
emaj-348	250	31	variables	variable	NOUN
emaj-348	250	32	significantly	significantly	ADV
emaj-348	250	33	affect	affect	VERB
emaj-348	250	34	the	the	DET
emaj-348	250	35	dependent	dependent	ADJ
emaj-348	250	36	variable	variable	NOUN
emaj-348	250	37	.	.	PUNCT
emaj-348	251	1	based	base	VERB
emaj-348	251	2	on	on	ADP
emaj-348	251	3	our	our	PRON
emaj-348	251	4	results	result	NOUN
emaj-348	251	5	,	,	PUNCT
emaj-348	251	6	the	the	DET
emaj-348	251	7	moderation	moderation	NOUN
emaj-348	251	8	hypothesis	hypothesis	NOUN
emaj-348	251	9	involving	involve	VERB
emaj-348	251	10	fbdp	fbdp	PROPN
emaj-348	251	11	as	as	SCONJ
emaj-348	251	12	the	the	DET
emaj-348	251	13	moderator	moderator	NOUN
emaj-348	251	14	variable	variable	NOUN
emaj-348	251	15	appears	appear	VERB
emaj-348	251	16	to	to	PART
emaj-348	251	17	hold	hold	VERB
emaj-348	251	18	.	.	PUNCT
emaj-348	252	1	particularly	particularly	ADV
emaj-348	252	2	,	,	PUNCT
emaj-348	252	3	we	we	PRON
emaj-348	252	4	show	show	VERB
emaj-348	252	5	that	that	SCONJ
emaj-348	252	6	a	a	DET
emaj-348	252	7	female	female	ADJ
emaj-348	252	8	director	director	NOUN
emaj-348	252	9	presence	presence	NOUN
emaj-348	252	10	on	on	ADP
emaj-348	252	11	the	the	DET
emaj-348	252	12	board	board	NOUN
emaj-348	252	13	of	of	ADP
emaj-348	252	14	a	a	DET
emaj-348	252	15	highly	highly	ADV
emaj-348	252	16	levered	lever	VERB
emaj-348	252	17	firm	firm	NOUN
emaj-348	252	18	will	will	AUX
emaj-348	252	19	reduce	reduce	VERB
emaj-348	252	20	the	the	DET
emaj-348	252	21	market	market	NOUN
emaj-348	252	22	value	value	NOUN
emaj-348	252	23	of	of	ADP
emaj-348	252	24	listed	list	VERB
emaj-348	252	25	firms	firm	NOUN
emaj-348	252	26	in	in	ADP
emaj-348	252	27	nigeria	nigeria	PROPN
emaj-348	252	28	even	even	ADV
emaj-348	252	29	though	though	SCONJ
emaj-348	252	30	it	it	PRON
emaj-348	252	31	appears	appear	VERB
emaj-348	252	32	to	to	PART
emaj-348	252	33	increase	increase	VERB
emaj-348	252	34	profitability	profitability	NOUN
emaj-348	252	35	.	.	PUNCT
emaj-348	253	1	we	we	PRON
emaj-348	253	2	note	note	VERB
emaj-348	253	3	that	that	SCONJ
emaj-348	253	4	following	follow	VERB
emaj-348	253	5	the	the	DET
emaj-348	253	6	arguments	argument	NOUN
emaj-348	253	7	of	of	ADP
emaj-348	253	8	agency	agency	NOUN
emaj-348	253	9	theory	theory	NOUN
emaj-348	253	10	(	(	PUNCT
emaj-348	253	11	jensen	jensen	PROPN
emaj-348	253	12	and	and	CCONJ
emaj-348	253	13	meckling	meckling	NOUN
emaj-348	253	14	,	,	PUNCT
emaj-348	253	15	1976	1976	NUM
emaj-348	253	16	)	)	PUNCT
emaj-348	253	17	,	,	PUNCT
emaj-348	253	18	greater	great	ADJ
emaj-348	253	19	board	board	NOUN
emaj-348	253	20	diversity	diversity	NOUN
emaj-348	253	21	leads	lead	VERB
emaj-348	253	22	to	to	ADP
emaj-348	253	23	a	a	DET
emaj-348	253	24	reduction	reduction	NOUN
emaj-348	253	25	in	in	ADP
emaj-348	253	26	information	information	NOUN
emaj-348	253	27	asymmetries	asymmetry	NOUN
emaj-348	253	28	.	.	PUNCT
emaj-348	254	1	the	the	DET
emaj-348	254	2	lower	low	ADJ
emaj-348	254	3	information	information	NOUN
emaj-348	254	4	asymmetries	asymmetry	NOUN
emaj-348	254	5	associated	associate	VERB
emaj-348	254	6	with	with	ADP
emaj-348	254	7	the	the	DET
emaj-348	254	8	participation	participation	NOUN
emaj-348	254	9	of	of	ADP
emaj-348	254	10	women	woman	NOUN
emaj-348	254	11	directors	director	NOUN
emaj-348	254	12	on	on	ADP
emaj-348	254	13	the	the	DET
emaj-348	254	14	board	board	NOUN
emaj-348	254	15	contribute	contribute	VERB
emaj-348	254	16	to	to	ADP
emaj-348	254	17	improving	improve	VERB
emaj-348	254	18	access	access	NOUN
emaj-348	254	19	to	to	ADP
emaj-348	254	20	external	external	ADJ
emaj-348	254	21	financial	financial	ADJ
emaj-348	254	22	resources	resource	NOUN
emaj-348	254	23	and	and	CCONJ
emaj-348	254	24	increase	increase	VERB
emaj-348	254	25	a	a	DET
emaj-348	254	26	firm	firm	NOUN
emaj-348	254	27	’s	’s	PART
emaj-348	254	28	proportion	proportion	NOUN
emaj-348	254	29	of	of	ADP
emaj-348	254	30	external	external	ADJ
emaj-348	254	31	equity	equity	NOUN
emaj-348	254	32	in	in	ADP
emaj-348	254	33	the	the	DET
emaj-348	254	34	capital	capital	NOUN
emaj-348	254	35	structure	structure	NOUN
emaj-348	254	36	,	,	PUNCT
emaj-348	254	37	leading	lead	VERB
emaj-348	254	38	to	to	ADP
emaj-348	254	39	lower	low	ADJ
emaj-348	254	40	leverage	leverage	NOUN
emaj-348	254	41	.	.	PUNCT
emaj-348	255	1	table	table	NOUN
emaj-348	255	2	5	5	NUM
emaj-348	255	3	:	:	PUNCT
emaj-348	255	4	capital	capital	NOUN
emaj-348	255	5	structure	structure	NOUN
emaj-348	255	6	and	and	CCONJ
emaj-348	255	7	firm	firm	ADJ
emaj-348	255	8	performance	performance	NOUN
emaj-348	255	9	nexus	nexus	NOUN
emaj-348	255	10	:	:	PUNCT
emaj-348	255	11	the	the	DET
emaj-348	255	12	role	role	NOUN
emaj-348	255	13	of	of	ADP
emaj-348	255	14	foreign	foreign	ADJ
emaj-348	255	15	board	board	NOUN
emaj-348	255	16	directors	director	NOUN
emaj-348	255	17	presence	presence	NOUN
emaj-348	255	18	source	source	NOUN
emaj-348	255	19	:	:	PUNCT
emaj-348	255	20	stata	stata	PROPN
emaj-348	255	21	software	software	PROPN
emaj-348	255	22	output	output	NOUN
emaj-348	255	23	note	note	NOUN
emaj-348	255	24	:	:	PUNCT
emaj-348	255	25	(	(	PUNCT
emaj-348	255	26	1	1	X
emaj-348	255	27	)	)	PUNCT
emaj-348	255	28	bracket	bracket	NOUN
emaj-348	255	29	{	{	PUNCT
emaj-348	255	30	}	}	PUNCT
emaj-348	255	31	are	be	AUX
emaj-348	255	32	p	p	NOUN
emaj-348	255	33	-	-	PUNCT
emaj-348	255	34	values	value	NOUN
emaj-348	255	35	:	:	PUNCT
emaj-348	255	36	(	(	PUNCT
emaj-348	255	37	2	2	X
emaj-348	255	38	)	)	PUNCT
emaj-348	255	39	*	*	PUNCT
emaj-348	255	40	*	*	PUNCT
emaj-348	255	41	,	,	PUNCT
emaj-348	255	42	*	*	PUNCT
emaj-348	255	43	*	*	PUNCT
emaj-348	255	44	*	*	PUNCT
emaj-348	255	45	,	,	PUNCT
emaj-348	255	46	implies	imply	VERB
emaj-348	255	47	statistical	statistical	ADJ
emaj-348	255	48	significance	significance	NOUN
emaj-348	255	49	at	at	ADP
emaj-348	255	50	5	5	NUM
emaj-348	255	51	%	%	NOUN
emaj-348	255	52	and	and	CCONJ
emaj-348	255	53	1	1	NUM
emaj-348	255	54	%	%	NOUN
emaj-348	255	55	levels	level	NOUN
emaj-348	255	56	respectively	respectively	ADV
emaj-348	255	57	robustness	robustness	NOUN
emaj-348	255	58	check	check	NOUN
emaj-348	255	59	as	as	ADP
emaj-348	255	60	a	a	DET
emaj-348	255	61	robustness	robustness	NOUN
emaj-348	255	62	check	check	NOUN
emaj-348	255	63	,	,	PUNCT
emaj-348	255	64	we	we	PRON
emaj-348	255	65	test	test	VERB
emaj-348	255	66	the	the	DET
emaj-348	255	67	sensitivity	sensitivity	NOUN
emaj-348	255	68	of	of	ADP
emaj-348	255	69	our	our	PRON
emaj-348	255	70	result	result	NOUN
emaj-348	255	71	to	to	PART
emaj-348	255	72	value	value	VERB
emaj-348	255	73	added	add	VERB
emaj-348	255	74	measure	measure	NOUN
emaj-348	255	75	of	of	ADP
emaj-348	255	76	firm	firm	ADJ
emaj-348	255	77	performance	performance	NOUN
emaj-348	255	78	;	;	PUNCT
emaj-348	255	79	in	in	ADP
emaj-348	255	80	this	this	DET
emaj-348	255	81	case	case	NOUN
emaj-348	255	82	,	,	PUNCT
emaj-348	255	83	market	market	NOUN
emaj-348	255	84	value	value	NOUN
emaj-348	255	85	added	add	VERB
emaj-348	255	86	.	.	PUNCT
emaj-348	256	1	our	our	PRON
emaj-348	256	2	results	result	NOUN
emaj-348	256	3	in	in	ADP
emaj-348	256	4	table	table	NOUN
emaj-348	256	5	6	6	NUM
emaj-348	256	6	indicate	indicate	VERB
emaj-348	256	7	that	that	DET
emaj-348	256	8	eqta	eqta	NOUN
emaj-348	256	9	has	have	VERB
emaj-348	256	10	a	a	DET
emaj-348	256	11	negative	negative	ADJ
emaj-348	256	12	significant	significant	ADJ
emaj-348	256	13	effect	effect	NOUN
emaj-348	256	14	on	on	ADP
emaj-348	256	15	market	market	NOUN
emaj-348	256	16	value	value	NOUN
emaj-348	256	17	added	add	VERB
emaj-348	256	18	(	(	PUNCT
emaj-348	256	19	mvad	mvad	NOUN
emaj-348	256	20	)	)	PUNCT
emaj-348	256	21	,	,	PUNCT
emaj-348	256	22	suggesting	suggest	VERB
emaj-348	256	23	that	that	SCONJ
emaj-348	256	24	eqta	eqta	NOUN
emaj-348	256	25	does	do	AUX
emaj-348	256	26	not	not	PART
emaj-348	256	27	robustly	robustly	ADV
emaj-348	256	28	support	support	VERB
emaj-348	256	29	firm	firm	ADJ
emaj-348	256	30	performance	performance	NOUN
emaj-348	256	31	when	when	SCONJ
emaj-348	256	32	measured	measure	VERB
emaj-348	256	33	through	through	ADP
emaj-348	256	34	market	market	NOUN
emaj-348	256	35	value	value	NOUN
emaj-348	256	36	added	add	VERB
emaj-348	256	37	.	.	PUNCT
emaj-348	257	1	this	this	DET
emaj-348	257	2	finding	finding	NOUN
emaj-348	257	3	shows	show	VERB
emaj-348	257	4	that	that	SCONJ
emaj-348	257	5	a	a	DET
emaj-348	257	6	higher	high	ADJ
emaj-348	257	7	equity	equity	NOUN
emaj-348	257	8	to	to	ADP
emaj-348	257	9	asset	asset	NOUN
emaj-348	257	10	ratio	ratio	NOUN
emaj-348	257	11	tends	tend	VERB
emaj-348	257	12	to	to	PART
emaj-348	257	13	decrease	decrease	VERB
emaj-348	257	14	firm	firm	ADJ
emaj-348	257	15	performance	performance	NOUN
emaj-348	257	16	in	in	ADP
emaj-348	257	17	terms	term	NOUN
emaj-348	257	18	of	of	ADP
emaj-348	257	19	mvad	mvad	NOUN
emaj-348	257	20	during	during	ADP
emaj-348	257	21	the	the	DET
emaj-348	257	22	study	study	NOUN
emaj-348	257	23	period	period	NOUN
emaj-348	257	24	.	.	PUNCT
emaj-348	258	1	on	on	ADP
emaj-348	258	2	the	the	DET
emaj-348	258	3	contrary	contrary	NOUN
emaj-348	258	4	,	,	PUNCT
emaj-348	258	5	deta	deta	PROPN
emaj-348	258	6	shows	show	VERB
emaj-348	258	7	a	a	DET
emaj-348	258	8	positive	positive	ADJ
emaj-348	258	9	significant	significant	ADJ
emaj-348	258	10	effect	effect	NOUN
emaj-348	258	11	on	on	ADP
emaj-348	258	12	mvad	mvad	NOUN
emaj-348	258	13	,	,	PUNCT
emaj-348	258	14	aligning	align	VERB
emaj-348	258	15	with	with	ADP
emaj-348	258	16	its	its	PRON
emaj-348	258	17	positive	positive	ADJ
emaj-348	258	18	impact	impact	NOUN
emaj-348	258	19	on	on	ADP
emaj-348	258	20	the	the	DET
emaj-348	258	21	market	market	NOUN
emaj-348	258	22	value	value	NOUN
emaj-348	258	23	(	(	PUNCT
emaj-348	258	24	tobq	tobq	NOUN
emaj-348	258	25	)	)	PUNCT
emaj-348	258	26	measure	measure	NOUN
emaj-348	258	27	of	of	ADP
emaj-348	258	28	firm	firm	ADJ
emaj-348	258	29	performance	performance	NOUN
emaj-348	258	30	found	find	VERB
emaj-348	258	31	in	in	ADP
emaj-348	258	32	the	the	DET
emaj-348	258	33	baseline	baseline	NOUN
emaj-348	258	34	model	model	NOUN
emaj-348	258	35	.	.	PUNCT
emaj-348	259	1	furthermore	furthermore	ADV
emaj-348	259	2	,	,	PUNCT
emaj-348	259	3	dete	dete	PROPN
emaj-348	259	4	has	have	VERB
emaj-348	259	5	a	a	DET
emaj-348	259	6	negative	negative	ADJ
emaj-348	259	7	but	but	CCONJ
emaj-348	259	8	insignificant	insignificant	ADJ
emaj-348	259	9	effect	effect	NOUN
emaj-348	259	10	on	on	ADP
emaj-348	259	11	mvad	mvad	NOUN
emaj-348	259	12	,	,	PUNCT
emaj-348	259	13	which	which	PRON
emaj-348	259	14	is	be	AUX
emaj-348	259	15	consistent	consistent	ADJ
emaj-348	259	16	with	with	ADP
emaj-348	259	17	its	its	PRON
emaj-348	259	18	effect	effect	NOUN
emaj-348	259	19	on	on	ADP
emaj-348	259	20	the	the	DET
emaj-348	259	21	tobq	tobq	NOUN
emaj-348	259	22	measure	measure	NOUN
emaj-348	259	23	of	of	ADP
emaj-348	259	24	firm	firm	ADJ
emaj-348	259	25	performance	performance	NOUN
emaj-348	259	26	in	in	ADP
emaj-348	259	27	the	the	DET
emaj-348	259	28	baseline	baseline	NOUN
emaj-348	259	29	model	model	NOUN
emaj-348	259	30	.	.	PUNCT
emaj-348	260	1	table	table	NOUN
emaj-348	260	2	6	6	NUM
emaj-348	260	3	:	:	PUNCT
emaj-348	260	4	capital	capital	NOUN
emaj-348	260	5	structure	structure	NOUN
emaj-348	260	6	firm	firm	NOUN
emaj-348	260	7	performance	performance	NOUN
emaj-348	260	8	nexus	nexus	NOUN
emaj-348	260	9	market	market	NOUN
emaj-348	260	10	value	value	NOUN
emaj-348	260	11	added	add	VERB
emaj-348	260	12	dimension	dimension	NOUN
emaj-348	260	13	source	source	NOUN
emaj-348	260	14	:	:	PUNCT
emaj-348	260	15	stata	stata	PROPN
emaj-348	260	16	software	software	PROPN
emaj-348	260	17	output	output	NOUN
emaj-348	260	18	note	note	NOUN
emaj-348	260	19	:	:	PUNCT
emaj-348	260	20	(	(	PUNCT
emaj-348	260	21	1	1	X
emaj-348	260	22	)	)	PUNCT
emaj-348	260	23	bracket	bracket	NOUN
emaj-348	260	24	{	{	PUNCT
emaj-348	260	25	}	}	PUNCT
emaj-348	260	26	are	be	AUX
emaj-348	260	27	p	p	NOUN
emaj-348	260	28	-	-	PUNCT
emaj-348	260	29	values	value	NOUN
emaj-348	260	30	:	:	PUNCT
emaj-348	260	31	(	(	PUNCT
emaj-348	260	32	2	2	X
emaj-348	260	33	)	)	PUNCT
emaj-348	260	34	*	*	PUNCT
emaj-348	260	35	*	*	PUNCT
emaj-348	260	36	,	,	PUNCT
emaj-348	260	37	*	*	PUNCT
emaj-348	260	38	*	*	PUNCT
emaj-348	260	39	*	*	PUNCT
emaj-348	260	40	,	,	PUNCT
emaj-348	260	41	implies	imply	VERB
emaj-348	260	42	statistical	statistical	ADJ
emaj-348	260	43	significance	significance	NOUN
emaj-348	260	44	at	at	ADP
emaj-348	260	45	5	5	NUM
emaj-348	260	46	%	%	NOUN
emaj-348	260	47	and	and	CCONJ
emaj-348	260	48	1	1	NUM
emaj-348	260	49	%	%	NOUN
emaj-348	260	50	levels	level	NOUN
emaj-348	260	51	respectively	respectively	ADV
emaj-348	260	52	in	in	ADP
emaj-348	260	53	table	table	NOUN
emaj-348	260	54	7	7	NUM
emaj-348	260	55	,	,	PUNCT
emaj-348	260	56	our	our	PRON
emaj-348	260	57	results	result	NOUN
emaj-348	260	58	demonstrate	demonstrate	VERB
emaj-348	260	59	that	that	SCONJ
emaj-348	260	60	the	the	DET
emaj-348	260	61	interaction	interaction	NOUN
emaj-348	260	62	between	between	ADP
emaj-348	260	63	fbdp	fbdp	PROPN
emaj-348	260	64	and	and	CCONJ
emaj-348	260	65	eqta	eqta	NOUN
emaj-348	260	66	has	have	VERB
emaj-348	260	67	a	a	DET
emaj-348	260	68	negative	negative	ADJ
emaj-348	260	69	and	and	CCONJ
emaj-348	260	70	significant	significant	ADJ
emaj-348	260	71	effect	effect	NOUN
emaj-348	260	72	on	on	ADP
emaj-348	260	73	market	market	NOUN
emaj-348	260	74	value	value	NOUN
emaj-348	260	75	added	add	VERB
emaj-348	260	76	(	(	PUNCT
emaj-348	260	77	mvad	mvad	NOUN
emaj-348	260	78	)	)	PUNCT
emaj-348	260	79	,	,	PUNCT
emaj-348	260	80	which	which	PRON
emaj-348	260	81	is	be	AUX
emaj-348	260	82	consistent	consistent	ADJ
emaj-348	260	83	with	with	ADP
emaj-348	260	84	the	the	DET
emaj-348	260	85	findings	finding	NOUN
emaj-348	260	86	from	from	ADP
emaj-348	260	87	the	the	DET
emaj-348	260	88	tobq	tobq	NOUN
emaj-348	260	89	model	model	NOUN
emaj-348	260	90	.	.	PUNCT
emaj-348	261	1	this	this	PRON
emaj-348	261	2	suggests	suggest	VERB
emaj-348	261	3	that	that	SCONJ
emaj-348	261	4	the	the	DET
emaj-348	261	5	presence	presence	NOUN
emaj-348	261	6	of	of	ADP
emaj-348	261	7	female	female	ADJ
emaj-348	261	8	board	board	NOUN
emaj-348	261	9	directors	director	NOUN
emaj-348	261	10	(	(	PUNCT
emaj-348	261	11	fbdp	fbdp	PROPN
emaj-348	261	12	)	)	PUNCT
emaj-348	261	13	diminishes	diminish	VERB
emaj-348	261	14	the	the	DET
emaj-348	261	15	positive	positive	ADJ
emaj-348	261	16	impact	impact	NOUN
emaj-348	261	17	of	of	ADP
emaj-348	261	18	a	a	DET
emaj-348	261	19	higher	high	ADJ
emaj-348	261	20	equity	equity	NOUN
emaj-348	261	21	to	to	ADP
emaj-348	261	22	asset	asset	NOUN
emaj-348	261	23	ratio	ratio	NOUN
emaj-348	261	24	(	(	PUNCT
emaj-348	261	25	eqta	eqta	NOUN
emaj-348	261	26	)	)	PUNCT
emaj-348	261	27	on	on	ADP
emaj-348	261	28	firm	firm	ADJ
emaj-348	261	29	performance	performance	NOUN
emaj-348	261	30	when	when	SCONJ
emaj-348	261	31	considering	consider	VERB
emaj-348	261	32	both	both	DET
emaj-348	261	33	market	market	NOUN
emaj-348	261	34	value	value	NOUN
emaj-348	261	35	added	add	VERB
emaj-348	261	36	and	and	CCONJ
emaj-348	261	37	tobin	tobin	PROPN
emaj-348	261	38	q	q	NOUN
emaj-348	261	39	,	,	PUNCT
emaj-348	261	40	indicating	indicate	VERB
emaj-348	261	41	that	that	SCONJ
emaj-348	261	42	the	the	DET
emaj-348	261	43	influence	influence	NOUN
emaj-348	261	44	of	of	ADP
emaj-348	261	45	eqta	eqta	NOUN
emaj-348	261	46	is	be	AUX
emaj-348	261	47	moderated	moderate	VERB
emaj-348	261	48	negatively	negatively	ADV
emaj-348	261	49	by	by	ADP
emaj-348	261	50	fbdp	fbdp	PROPN
emaj-348	261	51	in	in	ADP
emaj-348	261	52	terms	term	NOUN
emaj-348	261	53	of	of	ADP
emaj-348	261	54	the	the	DET
emaj-348	261	55	firm	firm	NOUN
emaj-348	261	56	's	's	PART
emaj-348	261	57	market	market	NOUN
emaj-348	261	58	value	value	NOUN
emaj-348	261	59	performance	performance	NOUN
emaj-348	261	60	.	.	PUNCT
emaj-348	262	1	furthermore	furthermore	ADV
emaj-348	262	2	,	,	PUNCT
emaj-348	262	3	the	the	DET
emaj-348	262	4	interaction	interaction	NOUN
emaj-348	262	5	between	between	ADP
emaj-348	262	6	fbdp	fbdp	PROPN
emaj-348	262	7	and	and	CCONJ
emaj-348	262	8	deta	deta	PROPN
emaj-348	262	9	reveals	reveal	VERB
emaj-348	262	10	a	a	DET
emaj-348	262	11	positive	positive	ADJ
emaj-348	262	12	and	and	CCONJ
emaj-348	262	13	significant	significant	ADJ
emaj-348	262	14	effect	effect	NOUN
emaj-348	262	15	on	on	ADP
emaj-348	262	16	mvad	mvad	NOUN
emaj-348	262	17	,	,	PUNCT
emaj-348	262	18	which	which	PRON
emaj-348	262	19	aligns	align	VERB
emaj-348	262	20	with	with	ADP
emaj-348	262	21	the	the	DET
emaj-348	262	22	results	result	NOUN
emaj-348	262	23	from	from	ADP
emaj-348	262	24	the	the	DET
emaj-348	262	25	tobin	tobin	PROPN
emaj-348	262	26	q	q	PROPN
emaj-348	262	27	model	model	PROPN
emaj-348	262	28	.	.	PUNCT
emaj-348	263	1	this	this	DET
emaj-348	263	2	consistency	consistency	NOUN
emaj-348	263	3	suggests	suggest	VERB
emaj-348	263	4	that	that	SCONJ
emaj-348	263	5	the	the	DET
emaj-348	263	6	presence	presence	NOUN
emaj-348	263	7	of	of	ADP
emaj-348	263	8	female	female	ADJ
emaj-348	263	9	board	board	NOUN
emaj-348	263	10	directors	director	NOUN
emaj-348	263	11	strengthens	strengthen	VERB
emaj-348	263	12	the	the	DET
emaj-348	263	13	positive	positive	ADJ
emaj-348	263	14	impact	impact	NOUN
emaj-348	263	15	of	of	ADP
emaj-348	263	16	the	the	DET
emaj-348	263	17	debt	debt	NOUN
emaj-348	263	18	to	to	ADP
emaj-348	263	19	asset	asset	NOUN
emaj-348	263	20	ratio	ratio	NOUN
emaj-348	263	21	(	(	PUNCT
emaj-348	263	22	deta	deta	NOUN
emaj-348	263	23	)	)	PUNCT
emaj-348	263	24	on	on	ADP
emaj-348	263	25	firm	firm	ADJ
emaj-348	263	26	performance	performance	NOUN
emaj-348	263	27	across	across	ADP
emaj-348	263	28	both	both	DET
emaj-348	263	29	dimensions	dimension	NOUN
emaj-348	263	30	of	of	ADP
emaj-348	263	31	market	market	NOUN
emaj-348	263	32	value	value	NOUN
emaj-348	263	33	.	.	PUNCT
emaj-348	264	1	the	the	DET
emaj-348	264	2	finding	finding	NOUN
emaj-348	264	3	implies	imply	VERB
emaj-348	264	4	that	that	SCONJ
emaj-348	264	5	,	,	PUNCT
emaj-348	264	6	under	under	ADP
emaj-348	264	7	certain	certain	ADJ
emaj-348	264	8	conditions	condition	NOUN
emaj-348	264	9	,	,	PUNCT
emaj-348	264	10	having	have	VERB
emaj-348	264	11	female	female	ADJ
emaj-348	264	12	board	board	NOUN
emaj-348	264	13	directors	director	NOUN
emaj-348	264	14	may	may	AUX
emaj-348	264	15	enhance	enhance	VERB
emaj-348	264	16	the	the	DET
emaj-348	264	17	beneficial	beneficial	ADJ
emaj-348	264	18	effects	effect	NOUN
emaj-348	264	19	of	of	ADP
emaj-348	264	20	leveraging	leverage	VERB
emaj-348	264	21	debt	debt	NOUN
emaj-348	264	22	on	on	ADP
emaj-348	264	23	market	market	NOUN
emaj-348	264	24	value	value	NOUN
emaj-348	264	25	performance	performance	NOUN
emaj-348	264	26	.	.	PUNCT
emaj-348	265	1	additionally	additionally	ADV
emaj-348	265	2	,	,	PUNCT
emaj-348	265	3	our	our	PRON
emaj-348	265	4	results	result	NOUN
emaj-348	265	5	show	show	VERB
emaj-348	265	6	that	that	SCONJ
emaj-348	265	7	the	the	DET
emaj-348	265	8	interaction	interaction	NOUN
emaj-348	265	9	between	between	ADP
emaj-348	265	10	fbdp	fbdp	PROPN
emaj-348	265	11	and	and	CCONJ
emaj-348	265	12	dete	dete	PROPN
emaj-348	265	13	has	have	VERB
emaj-348	265	14	a	a	DET
emaj-348	265	15	negative	negative	ADJ
emaj-348	265	16	and	and	CCONJ
emaj-348	265	17	significant	significant	ADJ
emaj-348	265	18	effect	effect	NOUN
emaj-348	265	19	on	on	ADP
emaj-348	265	20	mvad	mvad	NOUN
emaj-348	265	21	.	.	PUNCT
emaj-348	266	1	this	this	DET
emaj-348	266	2	negative	negative	ADJ
emaj-348	266	3	interaction	interaction	NOUN
emaj-348	266	4	indicates	indicate	VERB
emaj-348	266	5	that	that	SCONJ
emaj-348	266	6	the	the	DET
emaj-348	266	7	presence	presence	NOUN
emaj-348	266	8	of	of	ADP
emaj-348	266	9	female	female	ADJ
emaj-348	266	10	board	board	NOUN
emaj-348	266	11	directors	director	NOUN
emaj-348	266	12	reduces	reduce	VERB
emaj-348	266	13	the	the	DET
emaj-348	266	14	influence	influence	NOUN
emaj-348	266	15	of	of	ADP
emaj-348	266	16	the	the	DET
emaj-348	266	17	debt	debt	NOUN
emaj-348	266	18	-	-	PUNCT
emaj-348	266	19	to	to	ADP
emaj-348	266	20	-	-	PUNCT
emaj-348	266	21	equity	equity	NOUN
emaj-348	266	22	ratio	ratio	NOUN
emaj-348	266	23	(	(	PUNCT
emaj-348	266	24	dete	dete	ADJ
emaj-348	266	25	)	)	PUNCT
emaj-348	266	26	on	on	ADP
emaj-348	266	27	market	market	NOUN
emaj-348	266	28	value	value	NOUN
emaj-348	266	29	added	add	VERB
emaj-348	266	30	.	.	PUNCT
emaj-348	267	1	overall	overall	ADV
emaj-348	267	2	,	,	PUNCT
emaj-348	267	3	our	our	PRON
emaj-348	267	4	findings	finding	NOUN
emaj-348	267	5	demonstrate	demonstrate	VERB
emaj-348	267	6	robustness	robustness	NOUN
emaj-348	267	7	in	in	ADP
emaj-348	267	8	the	the	DET
emaj-348	267	9	sense	sense	NOUN
emaj-348	267	10	that	that	SCONJ
emaj-348	267	11	the	the	DET
emaj-348	267	12	moderating	moderate	VERB
emaj-348	267	13	effects	effect	NOUN
emaj-348	267	14	of	of	ADP
emaj-348	267	15	fbdp	fbdp	NOUN
emaj-348	267	16	on	on	ADP
emaj-348	267	17	the	the	DET
emaj-348	267	18	relationships	relationship	NOUN
emaj-348	267	19	between	between	ADP
emaj-348	267	20	the	the	DET
emaj-348	267	21	independent	independent	ADJ
emaj-348	267	22	variables	variable	NOUN
emaj-348	267	23	(	(	PUNCT
emaj-348	267	24	eqta	eqta	NOUN
emaj-348	267	25	,	,	PUNCT
emaj-348	267	26	deta	deta	NOUN
emaj-348	267	27	,	,	PUNCT
emaj-348	267	28	dete	dete	ADJ
emaj-348	267	29	)	)	PUNCT
emaj-348	267	30	and	and	CCONJ
emaj-348	267	31	firm	firm	ADJ
emaj-348	267	32	performance	performance	NOUN
emaj-348	267	33	are	be	AUX
emaj-348	267	34	consistent	consistent	ADJ
emaj-348	267	35	across	across	ADP
emaj-348	267	36	different	different	ADJ
emaj-348	267	37	dimensions	dimension	NOUN
emaj-348	267	38	of	of	ADP
emaj-348	267	39	firm	firm	ADJ
emaj-348	267	40	performance	performance	NOUN
emaj-348	267	41	.	.	PUNCT
emaj-348	268	1	this	this	DET
emaj-348	268	2	consistency	consistency	NOUN
emaj-348	268	3	across	across	ADP
emaj-348	268	4	multiple	multiple	ADJ
emaj-348	268	5	models	model	NOUN
emaj-348	268	6	and	and	CCONJ
emaj-348	268	7	measures	measure	NOUN
emaj-348	268	8	strengthens	strengthen	VERB
emaj-348	268	9	the	the	DET
emaj-348	268	10	reliability	reliability	NOUN
emaj-348	268	11	of	of	ADP
emaj-348	268	12	our	our	PRON
emaj-348	268	13	results	result	NOUN
emaj-348	268	14	and	and	CCONJ
emaj-348	268	15	supports	support	VERB
emaj-348	268	16	the	the	DET
emaj-348	268	17	validity	validity	NOUN
emaj-348	268	18	of	of	ADP
emaj-348	268	19	the	the	DET
emaj-348	268	20	moderating	moderate	VERB
emaj-348	268	21	role	role	NOUN
emaj-348	268	22	of	of	ADP
emaj-348	268	23	fbdp	fbdp	PROPN
emaj-348	268	24	in	in	ADP
emaj-348	268	25	influencing	influence	VERB
emaj-348	268	26	firm	firm	ADJ
emaj-348	268	27	performance	performance	NOUN
emaj-348	268	28	outcomes	outcome	NOUN
emaj-348	268	29	.	.	PUNCT
emaj-348	269	1	volume	volume	NOUN
emaj-348	269	2	14	14	NUM
emaj-348	269	3	no	no	DET
emaj-348	269	4	2	2	NUM
emaj-348	269	5	(	(	PUNCT
emaj-348	269	6	2024	2024	NUM
emaj-348	269	7	)	)	PUNCT
emaj-348	269	8	|	|	ADV
emaj-348	269	9	issn	issn	VERB
emaj-348	269	10	2158	2158	NUM
emaj-348	269	11	-	-	SYM
emaj-348	269	12	8708	8708	NUM
emaj-348	269	13	(	(	PUNCT
emaj-348	269	14	online	online	NOUN
emaj-348	269	15	)	)	PUNCT
emaj-348	269	16	|	|	ADV
emaj-348	269	17	doi	doi	X
emaj-348	269	18	10.5195	10.5195	NUM
emaj-348	269	19	/	/	SYM
emaj-348	269	20	emaj.2024.348	emaj.2024.348	NOUN
emaj-348	270	1	|	|	NOUN
emaj-348	270	2	http://emaj.pitt.edu	http://emaj.pitt.edu	VERB
emaj-348	270	3	idorenyin	idorenyin	PROPN
emaj-348	270	4	okon	okon	PROPN
emaj-348	270	5	,	,	PUNCT
emaj-348	270	6	ozele	ozele	PROPN
emaj-348	270	7	clement	clement	PROPN
emaj-348	270	8	emerging	emerge	VERB
emaj-348	270	9	markets	market	NOUN
emaj-348	270	10	journal	journal	PROPN
emaj-348	270	11	page	page	NOUN
emaj-348	270	12	|43|	|43|	NOUN
emaj-348	270	13	table	table	NOUN
emaj-348	270	14	7	7	NUM
emaj-348	270	15	:	:	PUNCT
emaj-348	270	16	capital	capital	NOUN
emaj-348	270	17	structure	structure	NOUN
emaj-348	270	18	firm	firm	NOUN
emaj-348	270	19	performance	performance	NOUN
emaj-348	270	20	nexus	nexus	NOUN
emaj-348	270	21	market	market	NOUN
emaj-348	270	22	value	value	NOUN
emaj-348	270	23	added	add	VERB
emaj-348	270	24	dimension	dimension	NOUN
emaj-348	270	25	:	:	PUNCT
emaj-348	270	26	the	the	DET
emaj-348	270	27	role	role	NOUN
emaj-348	270	28	of	of	ADP
emaj-348	270	29	female	female	ADJ
emaj-348	270	30	director	director	NOUN
emaj-348	270	31	board	board	NOUN
emaj-348	270	32	presence	presence	NOUN
emaj-348	270	33	source	source	NOUN
emaj-348	270	34	:	:	PUNCT
emaj-348	270	35	stata	stata	PROPN
emaj-348	270	36	software	software	PROPN
emaj-348	270	37	output	output	NOUN
emaj-348	270	38	note	note	NOUN
emaj-348	270	39	:	:	PUNCT
emaj-348	270	40	(	(	PUNCT
emaj-348	270	41	1	1	X
emaj-348	270	42	)	)	PUNCT
emaj-348	270	43	bracket	bracket	NOUN
emaj-348	270	44	{	{	PUNCT
emaj-348	270	45	}	}	PUNCT
emaj-348	270	46	are	be	AUX
emaj-348	270	47	p	p	NOUN
emaj-348	270	48	-	-	PUNCT
emaj-348	270	49	values	value	NOUN
emaj-348	270	50	:	:	PUNCT
emaj-348	270	51	(	(	PUNCT
emaj-348	270	52	2	2	X
emaj-348	270	53	)	)	PUNCT
emaj-348	270	54	*	*	PUNCT
emaj-348	271	1	*	*	PUNCT
emaj-348	271	2	,	,	PUNCT
emaj-348	271	3	*	*	PUNCT
emaj-348	271	4	*	*	PUNCT
emaj-348	271	5	*	*	PUNCT
emaj-348	271	6	,	,	PUNCT
emaj-348	271	7	implies	imply	VERB
emaj-348	271	8	statistical	statistical	ADJ
emaj-348	271	9	significance	significance	NOUN
emaj-348	271	10	at	at	ADP
emaj-348	271	11	5	5	NUM
emaj-348	271	12	%	%	NOUN
emaj-348	271	13	and	and	CCONJ
emaj-348	271	14	1	1	NUM
emaj-348	271	15	%	%	NOUN
emaj-348	271	16	levels	level	NOUN
emaj-348	271	17	respectively	respectively	ADV
emaj-348	271	18	v.	v.	ADP
emaj-348	271	19	conclusion	conclusion	NOUN
emaj-348	271	20	and	and	CCONJ
emaj-348	271	21	recommendations	recommendation	NOUN
emaj-348	271	22	this	this	DET
emaj-348	271	23	study	study	NOUN
emaj-348	271	24	investigated	investigate	VERB
emaj-348	271	25	the	the	DET
emaj-348	271	26	direct	direct	ADJ
emaj-348	271	27	effect	effect	NOUN
emaj-348	271	28	of	of	ADP
emaj-348	271	29	capital	capital	NOUN
emaj-348	271	30	structure	structure	NOUN
emaj-348	271	31	on	on	ADP
emaj-348	271	32	firm	firm	ADJ
emaj-348	271	33	performance	performance	NOUN
emaj-348	271	34	and	and	CCONJ
emaj-348	271	35	extends	extend	VERB
emaj-348	271	36	this	this	DET
emaj-348	271	37	objective	objective	NOUN
emaj-348	271	38	by	by	ADP
emaj-348	271	39	examining	examine	VERB
emaj-348	271	40	the	the	DET
emaj-348	271	41	moderating	moderate	VERB
emaj-348	271	42	effect	effect	NOUN
emaj-348	271	43	of	of	ADP
emaj-348	271	44	female	female	ADJ
emaj-348	271	45	board	board	NOUN
emaj-348	271	46	director	director	NOUN
emaj-348	271	47	presence	presence	NOUN
emaj-348	271	48	on	on	ADP
emaj-348	271	49	this	this	DET
emaj-348	271	50	relationship	relationship	NOUN
emaj-348	271	51	for	for	ADP
emaj-348	271	52	nonfinance	nonfinance	NOUN
emaj-348	271	53	firms	firm	NOUN
emaj-348	271	54	in	in	ADP
emaj-348	271	55	nigeria	nigeria	PROPN
emaj-348	271	56	from	from	ADP
emaj-348	271	57	2012	2012	NUM
emaj-348	271	58	to	to	ADP
emaj-348	271	59	2021	2021	NUM
emaj-348	271	60	.	.	PUNCT
emaj-348	272	1	the	the	DET
emaj-348	272	2	main	main	ADJ
emaj-348	272	3	aim	aim	NOUN
emaj-348	272	4	of	of	ADP
emaj-348	272	5	the	the	DET
emaj-348	272	6	study	study	NOUN
emaj-348	272	7	was	be	AUX
emaj-348	272	8	to	to	PART
emaj-348	272	9	assess	assess	VERB
emaj-348	272	10	how	how	SCONJ
emaj-348	272	11	different	different	ADJ
emaj-348	272	12	components	component	NOUN
emaj-348	272	13	of	of	ADP
emaj-348	272	14	capital	capital	NOUN
emaj-348	272	15	structure	structure	NOUN
emaj-348	272	16	,	,	PUNCT
emaj-348	272	17	such	such	ADJ
emaj-348	272	18	as	as	ADP
emaj-348	272	19	equity	equity	NOUN
emaj-348	272	20	to	to	ADP
emaj-348	272	21	asset	asset	NOUN
emaj-348	272	22	ratio	ratio	NOUN
emaj-348	272	23	,	,	PUNCT
emaj-348	272	24	debt	debt	NOUN
emaj-348	272	25	to	to	ADP
emaj-348	272	26	asset	asset	NOUN
emaj-348	272	27	ratio	ratio	NOUN
emaj-348	272	28	,	,	PUNCT
emaj-348	272	29	and	and	CCONJ
emaj-348	272	30	debt	debt	NOUN
emaj-348	272	31	to	to	ADP
emaj-348	272	32	equity	equity	NOUN
emaj-348	272	33	ratio	ratio	NOUN
emaj-348	272	34	,	,	PUNCT
emaj-348	272	35	affect	affect	VERB
emaj-348	272	36	firm	firm	ADJ
emaj-348	272	37	performance	performance	NOUN
emaj-348	272	38	,	,	PUNCT
emaj-348	272	39	measured	measure	VERB
emaj-348	272	40	in	in	ADP
emaj-348	272	41	terms	term	NOUN
emaj-348	272	42	of	of	ADP
emaj-348	272	43	market	market	NOUN
emaj-348	272	44	value	value	NOUN
emaj-348	272	45	and	and	CCONJ
emaj-348	272	46	profitability	profitability	NOUN
emaj-348	272	47	,	,	PUNCT
emaj-348	272	48	and	and	CCONJ
emaj-348	272	49	to	to	PART
emaj-348	272	50	determine	determine	VERB
emaj-348	272	51	how	how	SCONJ
emaj-348	272	52	the	the	DET
emaj-348	272	53	presence	presence	NOUN
emaj-348	272	54	of	of	ADP
emaj-348	272	55	female	female	ADJ
emaj-348	272	56	board	board	NOUN
emaj-348	272	57	directors	director	NOUN
emaj-348	272	58	influences	influence	VERB
emaj-348	272	59	these	these	DET
emaj-348	272	60	relationships	relationship	NOUN
emaj-348	272	61	.	.	PUNCT
emaj-348	273	1	the	the	DET
emaj-348	273	2	key	key	ADJ
emaj-348	273	3	findings	finding	NOUN
emaj-348	273	4	revealed	reveal	VERB
emaj-348	273	5	that	that	SCONJ
emaj-348	273	6	the	the	DET
emaj-348	273	7	equity	equity	NOUN
emaj-348	273	8	to	to	ADP
emaj-348	273	9	asset	asset	NOUN
emaj-348	273	10	ratio	ratio	NOUN
emaj-348	273	11	has	have	VERB
emaj-348	273	12	a	a	DET
emaj-348	273	13	positive	positive	ADJ
emaj-348	273	14	and	and	CCONJ
emaj-348	273	15	significant	significant	ADJ
emaj-348	273	16	effect	effect	NOUN
emaj-348	273	17	on	on	ADP
emaj-348	273	18	firm	firm	ADJ
emaj-348	273	19	performance	performance	NOUN
emaj-348	273	20	when	when	SCONJ
emaj-348	273	21	measured	measure	VERB
emaj-348	273	22	by	by	ADP
emaj-348	273	23	market	market	NOUN
emaj-348	273	24	value	value	NOUN
emaj-348	273	25	and	and	CCONJ
emaj-348	273	26	profitability	profitability	NOUN
emaj-348	273	27	,	,	PUNCT
emaj-348	273	28	suggesting	suggest	VERB
emaj-348	273	29	that	that	SCONJ
emaj-348	273	30	a	a	DET
emaj-348	273	31	higher	high	ADJ
emaj-348	273	32	equity	equity	NOUN
emaj-348	273	33	ratio	ratio	NOUN
emaj-348	273	34	can	can	AUX
emaj-348	273	35	enhance	enhance	VERB
emaj-348	273	36	both	both	DET
emaj-348	273	37	market	market	NOUN
emaj-348	273	38	value	value	NOUN
emaj-348	273	39	and	and	CCONJ
emaj-348	273	40	profitability	profitability	NOUN
emaj-348	273	41	.	.	PUNCT
emaj-348	274	1	conversely	conversely	ADV
emaj-348	274	2	,	,	PUNCT
emaj-348	274	3	the	the	DET
emaj-348	274	4	debt	debt	NOUN
emaj-348	274	5	to	to	ADP
emaj-348	274	6	asset	asset	NOUN
emaj-348	274	7	ratio	ratio	NOUN
emaj-348	274	8	had	have	VERB
emaj-348	274	9	a	a	DET
emaj-348	274	10	positive	positive	ADJ
emaj-348	274	11	effect	effect	NOUN
emaj-348	274	12	on	on	ADP
emaj-348	274	13	market	market	NOUN
emaj-348	274	14	value	value	NOUN
emaj-348	274	15	but	but	CCONJ
emaj-348	274	16	a	a	DET
emaj-348	274	17	negative	negative	ADJ
emaj-348	274	18	effect	effect	NOUN
emaj-348	274	19	on	on	ADP
emaj-348	274	20	profitability	profitability	NOUN
emaj-348	274	21	,	,	PUNCT
emaj-348	274	22	indicating	indicate	VERB
emaj-348	274	23	that	that	SCONJ
emaj-348	274	24	while	while	SCONJ
emaj-348	274	25	debt	debt	NOUN
emaj-348	274	26	can	can	AUX
emaj-348	274	27	improve	improve	VERB
emaj-348	274	28	market	market	NOUN
emaj-348	274	29	value	value	NOUN
emaj-348	274	30	,	,	PUNCT
emaj-348	274	31	it	it	PRON
emaj-348	274	32	may	may	AUX
emaj-348	274	33	constrain	constrain	VERB
emaj-348	274	34	profitability	profitability	NOUN
emaj-348	274	35	.	.	PUNCT
emaj-348	275	1	the	the	DET
emaj-348	275	2	debt	debt	NOUN
emaj-348	275	3	-	-	PUNCT
emaj-348	275	4	to	to	ADP
emaj-348	275	5	-	-	PUNCT
emaj-348	275	6	equity	equity	NOUN
emaj-348	275	7	ratio	ratio	NOUN
emaj-348	275	8	had	have	VERB
emaj-348	275	9	a	a	DET
emaj-348	275	10	negative	negative	ADJ
emaj-348	275	11	effect	effect	NOUN
emaj-348	275	12	on	on	ADP
emaj-348	275	13	market	market	NOUN
emaj-348	275	14	value	value	NOUN
emaj-348	275	15	and	and	CCONJ
emaj-348	275	16	a	a	DET
emaj-348	275	17	positive	positive	ADJ
emaj-348	275	18	effect	effect	NOUN
emaj-348	275	19	on	on	ADP
emaj-348	275	20	profitability	profitability	NOUN
emaj-348	275	21	,	,	PUNCT
emaj-348	275	22	suggesting	suggest	VERB
emaj-348	275	23	a	a	DET
emaj-348	275	24	nuanced	nuanced	ADJ
emaj-348	275	25	role	role	NOUN
emaj-348	275	26	of	of	ADP
emaj-348	275	27	debt	debt	NOUN
emaj-348	275	28	-	-	PUNCT
emaj-348	275	29	to	to	ADP
emaj-348	275	30	-	-	PUNCT
emaj-348	275	31	equity	equity	NOUN
emaj-348	275	32	ratio	ratio	NOUN
emaj-348	275	33	on	on	ADP
emaj-348	275	34	different	different	ADJ
emaj-348	275	35	performance	performance	NOUN
emaj-348	275	36	measures	measure	NOUN
emaj-348	275	37	.	.	PUNCT
emaj-348	276	1	the	the	DET
emaj-348	276	2	study	study	NOUN
emaj-348	276	3	also	also	ADV
emaj-348	276	4	found	find	VERB
emaj-348	276	5	that	that	SCONJ
emaj-348	276	6	the	the	DET
emaj-348	276	7	presence	presence	NOUN
emaj-348	276	8	of	of	ADP
emaj-348	276	9	female	female	ADJ
emaj-348	276	10	board	board	NOUN
emaj-348	276	11	directors	director	NOUN
emaj-348	276	12	significantly	significantly	ADV
emaj-348	276	13	affects	affect	VERB
emaj-348	276	14	firm	firm	ADJ
emaj-348	276	15	performance	performance	NOUN
emaj-348	276	16	:	:	PUNCT
emaj-348	276	17	it	it	PRON
emaj-348	276	18	positively	positively	ADV
emaj-348	276	19	influences	influence	VERB
emaj-348	276	20	profitability	profitability	NOUN
emaj-348	276	21	but	but	CCONJ
emaj-348	276	22	has	have	VERB
emaj-348	276	23	an	an	DET
emaj-348	276	24	insignificant	insignificant	ADJ
emaj-348	276	25	negative	negative	ADJ
emaj-348	276	26	effect	effect	NOUN
emaj-348	276	27	on	on	ADP
emaj-348	276	28	market	market	NOUN
emaj-348	276	29	value	value	NOUN
emaj-348	276	30	.	.	PUNCT
emaj-348	277	1	when	when	SCONJ
emaj-348	277	2	considering	consider	VERB
emaj-348	277	3	the	the	DET
emaj-348	277	4	interaction	interaction	NOUN
emaj-348	277	5	effects	effect	NOUN
emaj-348	277	6	,	,	PUNCT
emaj-348	277	7	the	the	DET
emaj-348	277	8	results	result	NOUN
emaj-348	277	9	demonstrate	demonstrate	VERB
emaj-348	277	10	that	that	SCONJ
emaj-348	277	11	the	the	DET
emaj-348	277	12	presence	presence	NOUN
emaj-348	277	13	of	of	ADP
emaj-348	277	14	female	female	ADJ
emaj-348	277	15	board	board	NOUN
emaj-348	277	16	directors	director	NOUN
emaj-348	277	17	modifies	modify	VERB
emaj-348	277	18	the	the	DET
emaj-348	277	19	relationship	relationship	NOUN
emaj-348	277	20	between	between	ADP
emaj-348	277	21	capital	capital	NOUN
emaj-348	277	22	structure	structure	NOUN
emaj-348	277	23	and	and	CCONJ
emaj-348	277	24	firm	firm	ADJ
emaj-348	277	25	performance	performance	NOUN
emaj-348	277	26	in	in	ADP
emaj-348	277	27	varying	vary	VERB
emaj-348	277	28	ways	way	NOUN
emaj-348	277	29	,	,	PUNCT
emaj-348	277	30	which	which	PRON
emaj-348	277	31	suggests	suggest	VERB
emaj-348	277	32	a	a	DET
emaj-348	277	33	complex	complex	ADJ
emaj-348	277	34	moderating	moderate	VERB
emaj-348	277	35	role	role	NOUN
emaj-348	277	36	.	.	PUNCT
emaj-348	278	1	the	the	DET
emaj-348	278	2	findings	finding	NOUN
emaj-348	278	3	indicated	indicate	VERB
emaj-348	278	4	that	that	SCONJ
emaj-348	278	5	female	female	ADJ
emaj-348	278	6	board	board	NOUN
emaj-348	278	7	presence	presence	NOUN
emaj-348	278	8	enhances	enhance	VERB
emaj-348	278	9	profitability	profitability	NOUN
emaj-348	278	10	by	by	ADP
emaj-348	278	11	positively	positively	ADV
emaj-348	278	12	moderating	moderate	VERB
emaj-348	278	13	the	the	DET
emaj-348	278	14	impact	impact	NOUN
emaj-348	278	15	of	of	ADP
emaj-348	278	16	equity	equity	NOUN
emaj-348	278	17	to	to	ADP
emaj-348	278	18	asset	asset	NOUN
emaj-348	278	19	and	and	CCONJ
emaj-348	278	20	debt	debt	NOUN
emaj-348	278	21	to	to	ADP
emaj-348	278	22	equity	equity	NOUN
emaj-348	278	23	ratios	ratio	NOUN
emaj-348	278	24	,	,	PUNCT
emaj-348	278	25	suggesting	suggest	VERB
emaj-348	278	26	improved	improved	ADJ
emaj-348	278	27	governance	governance	NOUN
emaj-348	278	28	and	and	CCONJ
emaj-348	278	29	operational	operational	ADJ
emaj-348	278	30	efficiency	efficiency	NOUN
emaj-348	278	31	.	.	PUNCT
emaj-348	279	1	however	however	ADV
emaj-348	279	2	,	,	PUNCT
emaj-348	279	3	this	this	DET
emaj-348	279	4	presence	presence	NOUN
emaj-348	279	5	also	also	ADV
emaj-348	279	6	showed	show	VERB
emaj-348	279	7	a	a	DET
emaj-348	279	8	mixed	mixed	ADJ
emaj-348	279	9	influence	influence	NOUN
emaj-348	279	10	on	on	ADP
emaj-348	279	11	market	market	NOUN
emaj-348	279	12	value	value	NOUN
emaj-348	279	13	,	,	PUNCT
emaj-348	279	14	where	where	SCONJ
emaj-348	279	15	it	it	PRON
emaj-348	279	16	negatively	negatively	ADV
emaj-348	279	17	moderates	moderate	VERB
emaj-348	279	18	the	the	DET
emaj-348	279	19	equity	equity	NOUN
emaj-348	279	20	to	to	ADP
emaj-348	279	21	asset	asset	NOUN
emaj-348	279	22	and	and	CCONJ
emaj-348	279	23	debt	debt	NOUN
emaj-348	279	24	to	to	ADP
emaj-348	279	25	equity	equity	NOUN
emaj-348	279	26	ratios	ratio	NOUN
emaj-348	279	27	while	while	SCONJ
emaj-348	279	28	positively	positively	ADV
emaj-348	279	29	moderating	moderate	VERB
emaj-348	279	30	the	the	DET
emaj-348	279	31	debt	debt	NOUN
emaj-348	279	32	to	to	ADP
emaj-348	279	33	asset	asset	NOUN
emaj-348	279	34	ratio	ratio	NOUN
emaj-348	279	35	,	,	PUNCT
emaj-348	279	36	reflecting	reflect	VERB
emaj-348	279	37	both	both	CCONJ
emaj-348	279	38	potential	potential	ADJ
emaj-348	279	39	market	market	NOUN
emaj-348	279	40	biases	bias	NOUN
emaj-348	279	41	and	and	CCONJ
emaj-348	279	42	perceived	perceive	VERB
emaj-348	279	43	risk	risk	NOUN
emaj-348	279	44	management	management	NOUN
emaj-348	279	45	benefits	benefit	NOUN
emaj-348	279	46	since	since	SCONJ
emaj-348	279	47	investors	investor	NOUN
emaj-348	279	48	may	may	AUX
emaj-348	279	49	see	see	VERB
emaj-348	279	50	genderdiverse	genderdiverse	NOUN
emaj-348	279	51	boards	board	NOUN
emaj-348	279	52	as	as	ADP
emaj-348	279	53	better	well	ADV
emaj-348	279	54	equipped	equip	VERB
emaj-348	279	55	to	to	PART
emaj-348	279	56	handle	handle	VERB
emaj-348	279	57	financial	financial	ADJ
emaj-348	279	58	risks	risk	NOUN
emaj-348	279	59	and	and	CCONJ
emaj-348	279	60	governance	governance	NOUN
emaj-348	279	61	challenges	challenge	NOUN
emaj-348	279	62	,	,	PUNCT
emaj-348	279	63	enhancing	enhance	VERB
emaj-348	279	64	the	the	DET
emaj-348	279	65	firm	firm	NOUN
emaj-348	279	66	’s	’s	PART
emaj-348	279	67	credibility	credibility	NOUN
emaj-348	279	68	and	and	CCONJ
emaj-348	279	69	attractiveness	attractiveness	NOUN
emaj-348	279	70	.	.	PUNCT
emaj-348	280	1	based	base	VERB
emaj-348	280	2	on	on	ADP
emaj-348	280	3	the	the	DET
emaj-348	280	4	findings	finding	NOUN
emaj-348	280	5	,	,	PUNCT
emaj-348	280	6	corporate	corporate	ADJ
emaj-348	280	7	managers	manager	NOUN
emaj-348	280	8	and	and	CCONJ
emaj-348	280	9	directors	director	NOUN
emaj-348	280	10	should	should	AUX
emaj-348	280	11	recognize	recognize	VERB
emaj-348	280	12	the	the	DET
emaj-348	280	13	dual	dual	ADJ
emaj-348	280	14	impact	impact	NOUN
emaj-348	280	15	of	of	ADP
emaj-348	280	16	their	their	PRON
emaj-348	280	17	capital	capital	NOUN
emaj-348	280	18	structure	structure	NOUN
emaj-348	280	19	decisions	decision	NOUN
emaj-348	280	20	on	on	ADP
emaj-348	280	21	different	different	ADJ
emaj-348	280	22	aspects	aspect	NOUN
emaj-348	280	23	of	of	ADP
emaj-348	280	24	firm	firm	ADJ
emaj-348	280	25	performance	performance	NOUN
emaj-348	280	26	.	.	PUNCT
emaj-348	281	1	emphasizing	emphasize	VERB
emaj-348	281	2	a	a	DET
emaj-348	281	3	balanced	balanced	ADJ
emaj-348	281	4	capital	capital	NOUN
emaj-348	281	5	structure	structure	NOUN
emaj-348	281	6	that	that	PRON
emaj-348	281	7	maintains	maintain	VERB
emaj-348	281	8	an	an	DET
emaj-348	281	9	optimal	optimal	ADJ
emaj-348	281	10	level	level	NOUN
emaj-348	281	11	of	of	ADP
emaj-348	281	12	equity	equity	NOUN
emaj-348	281	13	while	while	SCONJ
emaj-348	281	14	leveraging	leverage	VERB
emaj-348	281	15	debt	debt	NOUN
emaj-348	281	16	responsibly	responsibly	ADV
emaj-348	281	17	can	can	AUX
emaj-348	281	18	help	help	VERB
emaj-348	281	19	maximize	maximize	VERB
emaj-348	281	20	both	both	DET
emaj-348	281	21	market	market	NOUN
emaj-348	281	22	value	value	NOUN
emaj-348	281	23	and	and	CCONJ
emaj-348	281	24	profitability	profitability	NOUN
emaj-348	281	25	.	.	PUNCT
emaj-348	282	1	female	female	ADJ
emaj-348	282	2	representation	representation	NOUN
emaj-348	282	3	on	on	ADP
emaj-348	282	4	boards	board	NOUN
emaj-348	282	5	should	should	AUX
emaj-348	282	6	be	be	AUX
emaj-348	282	7	viewed	view	VERB
emaj-348	282	8	as	as	ADP
emaj-348	282	9	a	a	DET
emaj-348	282	10	strategic	strategic	ADJ
emaj-348	282	11	resource	resource	NOUN
emaj-348	282	12	that	that	PRON
emaj-348	282	13	can	can	AUX
emaj-348	282	14	enhance	enhance	VERB
emaj-348	282	15	profitability	profitability	NOUN
emaj-348	282	16	and	and	CCONJ
emaj-348	282	17	contribute	contribute	VERB
emaj-348	282	18	to	to	ADP
emaj-348	282	19	more	more	ADV
emaj-348	282	20	balanced	balanced	ADJ
emaj-348	282	21	decisionmaking	decisionmaking	NOUN
emaj-348	282	22	,	,	PUNCT
emaj-348	282	23	particularly	particularly	ADV
emaj-348	282	24	in	in	ADP
emaj-348	282	25	financial	financial	ADJ
emaj-348	282	26	management	management	NOUN
emaj-348	282	27	and	and	CCONJ
emaj-348	282	28	strategy	strategy	NOUN
emaj-348	282	29	formulation	formulation	NOUN
emaj-348	282	30	.	.	PUNCT
emaj-348	283	1	for	for	ADP
emaj-348	283	2	policymakers	policymaker	NOUN
emaj-348	283	3	and	and	CCONJ
emaj-348	283	4	regulators	regulator	NOUN
emaj-348	283	5	,	,	PUNCT
emaj-348	283	6	it	it	PRON
emaj-348	283	7	is	be	AUX
emaj-348	283	8	essential	essential	ADJ
emaj-348	283	9	to	to	PART
emaj-348	283	10	consider	consider	VERB
emaj-348	283	11	frameworks	framework	NOUN
emaj-348	283	12	that	that	PRON
emaj-348	283	13	encourage	encourage	VERB
emaj-348	283	14	gender	gender	NOUN
emaj-348	283	15	diversity	diversity	NOUN
emaj-348	283	16	on	on	ADP
emaj-348	283	17	corporate	corporate	ADJ
emaj-348	283	18	boards	board	NOUN
emaj-348	283	19	,	,	PUNCT
emaj-348	283	20	not	not	PART
emaj-348	283	21	only	only	ADV
emaj-348	283	22	for	for	ADP
emaj-348	283	23	its	its	PRON
emaj-348	283	24	intrinsic	intrinsic	ADJ
emaj-348	283	25	value	value	NOUN
emaj-348	283	26	,	,	PUNCT
emaj-348	283	27	but	but	CCONJ
emaj-348	283	28	also	also	ADV
emaj-348	283	29	for	for	ADP
emaj-348	283	30	its	its	PRON
emaj-348	283	31	impact	impact	NOUN
emaj-348	283	32	on	on	ADP
emaj-348	283	33	firm	firm	ADJ
emaj-348	283	34	performance	performance	NOUN
emaj-348	283	35	.	.	PUNCT
emaj-348	284	1	regulations	regulation	NOUN
emaj-348	284	2	or	or	CCONJ
emaj-348	284	3	incentives	incentive	NOUN
emaj-348	284	4	that	that	PRON
emaj-348	284	5	promote	promote	VERB
emaj-348	284	6	female	female	ADJ
emaj-348	284	7	representation	representation	NOUN
emaj-348	284	8	on	on	ADP
emaj-348	284	9	boards	board	NOUN
emaj-348	284	10	could	could	AUX
emaj-348	284	11	help	help	VERB
emaj-348	284	12	create	create	VERB
emaj-348	284	13	a	a	DET
emaj-348	284	14	more	more	ADV
emaj-348	284	15	equitable	equitable	ADJ
emaj-348	284	16	and	and	CCONJ
emaj-348	284	17	competitive	competitive	ADJ
emaj-348	284	18	market	market	NOUN
emaj-348	284	19	environment	environment	NOUN
emaj-348	284	20	.	.	PUNCT
emaj-348	285	1	additionally	additionally	ADV
emaj-348	285	2	,	,	PUNCT
emaj-348	285	3	ensuring	ensure	VERB
emaj-348	285	4	transparency	transparency	NOUN
emaj-348	285	5	and	and	CCONJ
emaj-348	285	6	adequate	adequate	ADJ
emaj-348	285	7	disclosure	disclosure	NOUN
emaj-348	285	8	of	of	ADP
emaj-348	285	9	firms	firm	NOUN
emaj-348	285	10	'	'	PART
emaj-348	285	11	capital	capital	NOUN
emaj-348	285	12	structures	structure	NOUN
emaj-348	285	13	could	could	AUX
emaj-348	285	14	aid	aid	VERB
emaj-348	285	15	in	in	ADP
emaj-348	285	16	reducing	reduce	VERB
emaj-348	285	17	information	information	NOUN
emaj-348	285	18	asymmetries	asymmetry	NOUN
emaj-348	285	19	and	and	CCONJ
emaj-348	285	20	promote	promote	VERB
emaj-348	285	21	better	well	ADJ
emaj-348	285	22	investment	investment	NOUN
emaj-348	285	23	decisions	decision	NOUN
emaj-348	285	24	.	.	PUNCT
emaj-348	286	1	for	for	ADP
emaj-348	286	2	other	other	ADJ
emaj-348	286	3	stakeholders	stakeholder	NOUN
emaj-348	286	4	,	,	PUNCT
emaj-348	286	5	including	include	VERB
emaj-348	286	6	corporate	corporate	ADJ
emaj-348	286	7	governance	governance	NOUN
emaj-348	286	8	advocates	advocate	NOUN
emaj-348	286	9	and	and	CCONJ
emaj-348	286	10	human	human	ADJ
emaj-348	286	11	resource	resource	NOUN
emaj-348	286	12	professionals	professional	NOUN
emaj-348	286	13	,	,	PUNCT
emaj-348	286	14	promoting	promote	VERB
emaj-348	286	15	a	a	DET
emaj-348	286	16	more	more	ADV
emaj-348	286	17	inclusive	inclusive	ADJ
emaj-348	286	18	corporate	corporate	ADJ
emaj-348	286	19	culture	culture	NOUN
emaj-348	286	20	with	with	ADP
emaj-348	286	21	diverse	diverse	ADJ
emaj-348	286	22	boards	board	NOUN
emaj-348	286	23	can	can	AUX
emaj-348	286	24	contribute	contribute	VERB
emaj-348	286	25	to	to	ADP
emaj-348	286	26	long	long	ADJ
emaj-348	286	27	-	-	PUNCT
emaj-348	286	28	term	term	NOUN
emaj-348	286	29	sustainable	sustainable	ADJ
emaj-348	286	30	performance	performance	NOUN
emaj-348	286	31	.	.	PUNCT
emaj-348	287	1	these	these	DET
emaj-348	287	2	efforts	effort	NOUN
emaj-348	287	3	should	should	AUX
emaj-348	287	4	be	be	AUX
emaj-348	287	5	aligned	align	VERB
emaj-348	287	6	with	with	ADP
emaj-348	287	7	broader	broad	ADJ
emaj-348	287	8	strategic	strategic	ADJ
emaj-348	287	9	goals	goal	NOUN
emaj-348	287	10	that	that	PRON
emaj-348	287	11	balance	balance	VERB
emaj-348	287	12	both	both	CCONJ
emaj-348	287	13	profitability	profitability	NOUN
emaj-348	287	14	and	and	CCONJ
emaj-348	287	15	market	market	NOUN
emaj-348	287	16	growth	growth	NOUN
emaj-348	287	17	.	.	PUNCT
emaj-348	288	1	future	future	ADJ
emaj-348	288	2	research	research	NOUN
emaj-348	288	3	could	could	AUX
emaj-348	288	4	explore	explore	VERB
emaj-348	288	5	these	these	DET
emaj-348	288	6	relationships	relationship	NOUN
emaj-348	288	7	in	in	ADP
emaj-348	288	8	other	other	ADJ
emaj-348	288	9	sectors	sector	NOUN
emaj-348	288	10	or	or	CCONJ
emaj-348	288	11	geographical	geographical	ADJ
emaj-348	288	12	contexts	context	NOUN
emaj-348	288	13	to	to	PART
emaj-348	288	14	enhance	enhance	VERB
emaj-348	288	15	the	the	DET
emaj-348	288	16	generalizability	generalizability	NOUN
emaj-348	288	17	of	of	ADP
emaj-348	288	18	the	the	DET
emaj-348	288	19	findings	finding	NOUN
emaj-348	288	20	.	.	PUNCT
emaj-348	289	1	additionally	additionally	ADV
emaj-348	289	2	,	,	PUNCT
emaj-348	289	3	examining	examine	VERB
emaj-348	289	4	other	other	ADJ
emaj-348	289	5	dimensions	dimension	NOUN
emaj-348	289	6	of	of	ADP
emaj-348	289	7	board	board	NOUN
emaj-348	289	8	diversity	diversity	NOUN
emaj-348	289	9	,	,	PUNCT
emaj-348	289	10	such	such	ADJ
emaj-348	289	11	as	as	ADP
emaj-348	289	12	age	age	NOUN
emaj-348	289	13	,	,	PUNCT
emaj-348	289	14	ethnicity	ethnicity	NOUN
emaj-348	289	15	,	,	PUNCT
emaj-348	289	16	and	and	CCONJ
emaj-348	289	17	educational	educational	ADJ
emaj-348	289	18	background	background	NOUN
emaj-348	289	19	,	,	PUNCT
emaj-348	289	20	could	could	AUX
emaj-348	289	21	provide	provide	VERB
emaj-348	289	22	a	a	DET
emaj-348	289	23	more	more	ADV
emaj-348	289	24	comprehensive	comprehensive	ADJ
emaj-348	289	25	understanding	understanding	NOUN
emaj-348	289	26	of	of	ADP
emaj-348	289	27	how	how	SCONJ
emaj-348	289	28	board	board	NOUN
emaj-348	289	29	composition	composition	NOUN
emaj-348	289	30	affects	affect	VERB
emaj-348	289	31	firm	firm	ADJ
emaj-348	289	32	performance	performance	NOUN
emaj-348	289	33	.	.	PUNCT
emaj-348	290	1	further	further	ADJ
emaj-348	290	2	studies	study	NOUN
emaj-348	290	3	might	might	AUX
emaj-348	290	4	also	also	ADV
emaj-348	290	5	consider	consider	VERB
emaj-348	290	6	longitudinal	longitudinal	ADJ
emaj-348	290	7	analyses	analysis	NOUN
emaj-348	290	8	to	to	PART
emaj-348	290	9	capture	capture	VERB
emaj-348	290	10	the	the	DET
emaj-348	290	11	dynamic	dynamic	ADJ
emaj-348	290	12	effects	effect	NOUN
emaj-348	290	13	of	of	ADP
emaj-348	290	14	capital	capital	NOUN
emaj-348	290	15	structure	structure	NOUN
emaj-348	290	16	and	and	CCONJ
emaj-348	290	17	board	board	NOUN
emaj-348	290	18	diversity	diversity	NOUN
emaj-348	290	19	over	over	ADP
emaj-348	290	20	more	more	ADV
emaj-348	290	21	extended	extended	ADJ
emaj-348	290	22	periods	period	NOUN
emaj-348	290	23	or	or	CCONJ
emaj-348	290	24	employ	employ	VERB
emaj-348	290	25	alternative	alternative	ADJ
emaj-348	290	26	methodological	methodological	ADJ
emaj-348	290	27	approaches	approach	NOUN
emaj-348	290	28	to	to	PART
emaj-348	290	29	address	address	VERB
emaj-348	290	30	potential	potential	ADJ
emaj-348	290	31	endogeneity	endogeneity	NOUN
emaj-348	290	32	and	and	CCONJ
emaj-348	290	33	measurement	measurement	NOUN
emaj-348	290	34	biases	bias	NOUN
emaj-348	290	35	.	.	PUNCT
emaj-348	291	1	references	reference	NOUN
emaj-348	291	2	abdullah	abdullah	PROPN
emaj-348	291	3	,	,	PUNCT
emaj-348	291	4	h.	h.	PROPN
emaj-348	291	5	and	and	CCONJ
emaj-348	291	6	tursoy	tursoy	ADJ
emaj-348	291	7	,	,	PUNCT
emaj-348	291	8	t.	t.	NOUN
emaj-348	291	9	(	(	PUNCT
emaj-348	291	10	2021	2021	NUM
emaj-348	291	11	)	)	PUNCT
emaj-348	291	12	‘	'	PUNCT
emaj-348	291	13	capital	capital	NOUN
emaj-348	291	14	structure	structure	NOUN
emaj-348	291	15	and	and	CCONJ
emaj-348	291	16	firm	firm	ADJ
emaj-348	291	17	performance	performance	NOUN
emaj-348	291	18	:	:	PUNCT
emaj-348	291	19	evidence	evidence	NOUN
emaj-348	291	20	of	of	ADP
emaj-348	291	21	germany	germany	PROPN
emaj-348	291	22	under	under	ADP
emaj-348	291	23	ifrs	ifrs	PROPN
emaj-348	291	24	adoption	adoption	NOUN
emaj-348	291	25	’	'	PUNCT
emaj-348	291	26	,	,	PUNCT
emaj-348	291	27	review	review	NOUN
emaj-348	291	28	of	of	ADP
emaj-348	291	29	managerial	managerial	ADJ
emaj-348	291	30	science	science	NOUN
emaj-348	291	31	,	,	PUNCT
emaj-348	291	32	15(2),379–398	15(2),379–398	PROPN
emaj-348	291	33	.	.	PUNCT
emaj-348	291	34	https://doi.org/10.1007/s11846019-00344-5	https://doi.org/10.1007/s11846019-00344-5	PROPN
emaj-348	291	35	.	.	PUNCT
emaj-348	292	1	abdullah	abdullah	PROPN
emaj-348	292	2	,	,	PUNCT
emaj-348	292	3	s.n	s.n	PROPN
emaj-348	292	4	.	.	PROPN
emaj-348	292	5	(	(	PUNCT
emaj-348	292	6	2014	2014	NUM
emaj-348	292	7	)	)	PUNCT
emaj-348	292	8	‘	'	PUNCT
emaj-348	292	9	the	the	DET
emaj-348	292	10	causes	cause	NOUN
emaj-348	292	11	of	of	ADP
emaj-348	292	12	gender	gender	NOUN
emaj-348	292	13	diversity	diversity	NOUN
emaj-348	292	14	in	in	ADP
emaj-348	292	15	malaysian	malaysian	ADJ
emaj-348	292	16	large	large	ADJ
emaj-348	292	17	firms	firm	NOUN
emaj-348	292	18	’	'	PUNCT
emaj-348	292	19	,	,	PUNCT
emaj-348	292	20	journal	journal	NOUN
emaj-348	292	21	of	of	ADP
emaj-348	292	22	management	management	NOUN
emaj-348	292	23	and	and	CCONJ
emaj-348	292	24	governance	governance	NOUN
emaj-348	292	25	,	,	PUNCT
emaj-348	292	26	18(4	18(4	NUM
emaj-348	292	27	)	)	PUNCT
emaj-348	292	28	,	,	PUNCT
emaj-348	292	29	1137–1159	1137–1159	NUM
emaj-348	292	30	.	.	PUNCT
emaj-348	292	31	https://doi.org/10.1007/s10997-013-9279-0	https://doi.org/10.1007/s10997-013-9279-0	NUM
emaj-348	292	32	.	.	PUNCT
emaj-348	293	1	volume	volume	NOUN
emaj-348	293	2	14	14	NUM
emaj-348	293	3	no	no	DET
emaj-348	293	4	2	2	NUM
emaj-348	293	5	(	(	PUNCT
emaj-348	293	6	2024	2024	NUM
emaj-348	293	7	)	)	PUNCT
emaj-348	293	8	|	|	ADV
emaj-348	293	9	issn	issn	VERB
emaj-348	293	10	2158	2158	NUM
emaj-348	293	11	-	-	SYM
emaj-348	293	12	8708	8708	NUM
emaj-348	293	13	(	(	PUNCT
emaj-348	293	14	online	online	NOUN
emaj-348	293	15	)	)	PUNCT
emaj-348	293	16	|	|	ADV
emaj-348	293	17	doi	doi	X
emaj-348	293	18	10.5195	10.5195	NUM
emaj-348	293	19	/	/	SYM
emaj-348	293	20	emaj.2024.348	emaj.2024.348	PROPN
emaj-348	294	1	|	|	NOUN
emaj-348	294	2	http://emaj.pitt.edu	http://emaj.pitt.edu	VERB
emaj-348	294	3	female	female	ADJ
emaj-348	294	4	directors	director	NOUN
emaj-348	294	5	’	'	PUNCT
emaj-348	294	6	role	role	NOUN
emaj-348	294	7	on	on	ADP
emaj-348	294	8	capital	capital	NOUN
emaj-348	294	9	structure	structure	NOUN
emaj-348	294	10	and	and	CCONJ
emaj-348	294	11	firm	firm	ADJ
emaj-348	294	12	performance	performance	NOUN
emaj-348	294	13	nexus	nexus	NOUN
emaj-348	294	14	:	:	PUNCT
emaj-348	294	15	new	new	ADJ
emaj-348	294	16	evidence	evidence	NOUN
emaj-348	294	17	from	from	ADP
emaj-348	294	18	an	an	DET
emaj-348	294	19	emerging	emerge	VERB
emaj-348	294	20	market	market	NOUN
emaj-348	294	21	nigeria	nigeria	PROPN
emaj-348	294	22	page	page	NOUN
emaj-348	294	23	|44|	|44|	NOUN
emaj-348	294	24	emerging	emerge	VERB
emaj-348	294	25	markets	market	NOUN
emaj-348	294	26	journal	journal	PROPN
emaj-348	294	27	almaqtari	almaqtari	PROPN
emaj-348	294	28	,	,	PUNCT
emaj-348	294	29	f.a	f.a	PROPN
emaj-348	294	30	.	.	PROPN
emaj-348	294	31	,	,	PUNCT
emaj-348	294	32	hashim	hashim	PROPN
emaj-348	294	33	,	,	PUNCT
emaj-348	294	34	h.a	h.a	PROPN
emaj-348	294	35	.	.	PROPN
emaj-348	294	36	,	,	PUNCT
emaj-348	294	37	mansour	mansour	PROPN
emaj-348	294	38	,	,	PUNCT
emaj-348	294	39	m.	m.	NOUN
emaj-348	294	40	and	and	CCONJ
emaj-348	294	41	alahdal	alahdal	NOUN
emaj-348	294	42	,	,	PUNCT
emaj-348	294	43	w.m	w.m	PROPN
emaj-348	294	44	.	.	PROPN
emaj-348	294	45	(	(	PUNCT
emaj-348	294	46	2021	2021	NUM
emaj-348	294	47	)	)	PUNCT
emaj-348	295	1	‘	'	PUNCT
emaj-348	295	2	a	a	DET
emaj-348	295	3	review	review	NOUN
emaj-348	295	4	of	of	ADP
emaj-348	295	5	the	the	DET
emaj-348	295	6	influence	influence	NOUN
emaj-348	295	7	of	of	ADP
emaj-348	295	8	capital	capital	NOUN
emaj-348	295	9	structure	structure	NOUN
emaj-348	295	10	on	on	ADP
emaj-348	295	11	the	the	DET
emaj-348	295	12	relationship	relationship	NOUN
emaj-348	295	13	between	between	ADP
emaj-348	295	14	corporate	corporate	ADJ
emaj-348	295	15	governance	governance	NOUN
emaj-348	295	16	and	and	CCONJ
emaj-348	295	17	firm	firm	ADJ
emaj-348	295	18	performance	performance	NOUN
emaj-348	295	19	’	'	PUNCT
emaj-348	295	20	,	,	PUNCT
emaj-348	295	21	international	international	ADJ
emaj-348	295	22	journal	journal	NOUN
emaj-348	295	23	of	of	ADP
emaj-348	295	24	procurement	procurement	NOUN
emaj-348	295	25	management	management	NOUN
emaj-348	295	26	,	,	PUNCT
emaj-348	295	27	1(1	1(1	NUM
emaj-348	295	28	)	)	PUNCT
emaj-348	295	29	,	,	PUNCT
emaj-348	295	30	1	1	X
emaj-348	295	31	.	.	X
emaj-348	295	32	https://doi.org/10.1504/	https://doi.org/10.1504/	PROPN
emaj-348	295	33	ijpm.2021.10047744	ijpm.2021.10047744	PROPN
emaj-348	295	34	.	.	PUNCT
emaj-348	296	1	anh	anh	PROPN
emaj-348	296	2	,	,	PUNCT
emaj-348	296	3	h.n	h.n	PROPN
emaj-348	296	4	.	.	PROPN
emaj-348	296	5	,	,	PUNCT
emaj-348	296	6	duong	duong	PROPN
emaj-348	296	7	,	,	PUNCT
emaj-348	296	8	t.d	t.d	PROPN
emaj-348	296	9	.	.	PROPN
emaj-348	297	1	and	and	CCONJ
emaj-348	297	2	yoon	yoon	PROPN
emaj-348	297	3	,	,	PUNCT
emaj-348	297	4	w.s	w.s	PROPN
emaj-348	297	5	.	.	PROPN
emaj-348	298	1	(	(	PUNCT
emaj-348	298	2	2018	2018	NUM
emaj-348	298	3	)	)	PUNCT
emaj-348	298	4	‘	'	PUNCT
emaj-348	298	5	capital	capital	NOUN
emaj-348	298	6	structure	structure	NOUN
emaj-348	298	7	and	and	CCONJ
emaj-348	298	8	firm	firm	ADJ
emaj-348	298	9	financial	financial	ADJ
emaj-348	298	10	performance	performance	NOUN
emaj-348	298	11	in	in	ADP
emaj-348	298	12	vietnam	vietnam	PROPN
emaj-348	298	13	’	'	PUNCT
emaj-348	298	14	,	,	PUNCT
emaj-348	298	15	international	international	ADJ
emaj-348	298	16	journal	journal	NOUN
emaj-348	298	17	of	of	ADP
emaj-348	298	18	accounting	accounting	NOUN
emaj-348	298	19	and	and	CCONJ
emaj-348	298	20	finance	finance	NOUN
emaj-348	298	21	,	,	PUNCT
emaj-348	298	22	8(2	8(2	NUM
emaj-348	298	23	)	)	PUNCT
emaj-348	298	24	,	,	PUNCT
emaj-348	298	25	122–132	122–132	NUM
emaj-348	298	26	.	.	PUNCT
emaj-348	299	1	arellano	arellano	PROPN
emaj-348	299	2	,	,	PUNCT
emaj-348	299	3	m.	m.	NOUN
emaj-348	299	4	and	and	CCONJ
emaj-348	299	5	bond	bond	NOUN
emaj-348	299	6	,	,	PUNCT
emaj-348	299	7	s.	s.	PROPN
emaj-348	299	8	(	(	PUNCT
emaj-348	299	9	1991	1991	NUM
emaj-348	299	10	)	)	PUNCT
emaj-348	299	11	‘	'	PUNCT
emaj-348	299	12	some	some	DET
emaj-348	299	13	tests	test	NOUN
emaj-348	299	14	of	of	ADP
emaj-348	299	15	specification	specification	NOUN
emaj-348	299	16	for	for	ADP
emaj-348	299	17	panel	panel	NOUN
emaj-348	299	18	data	datum	NOUN
emaj-348	299	19	:	:	PUNCT
emaj-348	299	20	monte	monte	PROPN
emaj-348	299	21	carlo	carlo	PROPN
emaj-348	299	22	evidence	evidence	NOUN
emaj-348	299	23	and	and	CCONJ
emaj-348	299	24	an	an	DET
emaj-348	299	25	application	application	NOUN
emaj-348	299	26	to	to	ADP
emaj-348	299	27	employment	employment	NOUN
emaj-348	299	28	equations	equation	NOUN
emaj-348	299	29	’	'	PUNCT
emaj-348	299	30	,	,	PUNCT
emaj-348	299	31	the	the	DET
emaj-348	299	32	review	review	NOUN
emaj-348	299	33	of	of	ADP
emaj-348	299	34	economic	economic	ADJ
emaj-348	299	35	studies	study	NOUN
emaj-348	299	36	,	,	PUNCT
emaj-348	299	37	58(2	58(2	NUM
emaj-348	299	38	)	)	PUNCT
emaj-348	299	39	,	,	PUNCT
emaj-348	299	40	277–297	277–297	NUM
emaj-348	299	41	.	.	PUNCT
emaj-348	300	1	ayalew	ayalew	NOUN
emaj-348	300	2	,	,	PUNCT
emaj-348	300	3	a.	a.	NOUN
emaj-348	300	4	(	(	PUNCT
emaj-348	300	5	2021	2021	NUM
emaj-348	300	6	)	)	PUNCT
emaj-348	300	7	‘	'	PUNCT
emaj-348	300	8	capital	capital	NOUN
emaj-348	300	9	structure	structure	NOUN
emaj-348	300	10	and	and	CCONJ
emaj-348	300	11	profitability	profitability	NOUN
emaj-348	300	12	:	:	PUNCT
emaj-348	300	13	panel	panel	NOUN
emaj-348	300	14	data	datum	NOUN
emaj-348	300	15	evidence	evidence	NOUN
emaj-348	300	16	of	of	ADP
emaj-348	300	17	private	private	ADJ
emaj-348	300	18	banks	bank	NOUN
emaj-348	300	19	in	in	ADP
emaj-348	300	20	ethiopia	ethiopia	PROPN
emaj-348	300	21	’	'	PUNCT
emaj-348	300	22	,	,	PUNCT
emaj-348	300	23	cogent	cogent	NOUN
emaj-348	300	24	economics	economic	NOUN
emaj-348	300	25	and	and	CCONJ
emaj-348	300	26	finance	finance	NOUN
emaj-348	300	27	,	,	PUNCT
emaj-348	300	28	9(1	9(1	NUM
emaj-348	300	29	)	)	PUNCT
emaj-348	300	30	.	.	PUNCT
emaj-348	301	1	https://doi.org/10.1080/23322039.2021.195373	https://doi.org/10.1080/23322039.2021.195373	NOUN
emaj-348	302	1	6	6	NUM
emaj-348	302	2	.	.	X
emaj-348	302	3	bajaj	bajaj	PROPN
emaj-348	302	4	,	,	PUNCT
emaj-348	302	5	y.	y.	PROPN
emaj-348	302	6	,	,	PUNCT
emaj-348	302	7	kashiramka	kashiramka	PROPN
emaj-348	302	8	,	,	PUNCT
emaj-348	302	9	s.	s.	PROPN
emaj-348	302	10	and	and	CCONJ
emaj-348	302	11	singh	singh	PROPN
emaj-348	302	12	,	,	PUNCT
emaj-348	302	13	s.	s.	PROPN
emaj-348	302	14	(	(	PUNCT
emaj-348	302	15	2018	2018	NUM
emaj-348	302	16	)	)	PUNCT
emaj-348	302	17	‘	'	PUNCT
emaj-348	302	18	dynamics	dynamic	NOUN
emaj-348	302	19	of	of	ADP
emaj-348	302	20	capital	capital	NOUN
emaj-348	302	21	structure	structure	NOUN
emaj-348	302	22	:	:	PUNCT
emaj-348	302	23	evidence	evidence	NOUN
emaj-348	302	24	from	from	ADP
emaj-348	302	25	indian	indian	ADJ
emaj-348	302	26	manufacturing	manufacturing	NOUN
emaj-348	302	27	firms	firm	NOUN
emaj-348	302	28	’	'	PUNCT
emaj-348	302	29	,	,	PUNCT
emaj-348	302	30	journal	journal	NOUN
emaj-348	302	31	for	for	ADP
emaj-348	302	32	global	global	ADJ
emaj-348	302	33	business	business	NOUN
emaj-348	302	34	advancement	advancement	NOUN
emaj-348	302	35	,	,	PUNCT
emaj-348	302	36	11(6	11(6	NUM
emaj-348	302	37	)	)	PUNCT
emaj-348	302	38	,	,	PUNCT
emaj-348	302	39	667–686	667–686	NUM
emaj-348	302	40	.	.	PUNCT
emaj-348	302	41	available	available	ADJ
emaj-348	302	42	at	at	ADP
emaj-348	302	43	:	:	PUNCT
emaj-348	302	44	https://doi.org/10.1504/	https://doi.org/10.1504/	PROPN
emaj-348	302	45	jgba.2018.097774	jgba.2018.097774	PROPN
emaj-348	302	46	.	.	PUNCT
emaj-348	303	1	baron	baron	PROPN
emaj-348	303	2	,	,	PUNCT
emaj-348	303	3	r.m	r.m	PROPN
emaj-348	303	4	.	.	PROPN
emaj-348	303	5	and	and	CCONJ
emaj-348	303	6	kenny	kenny	PROPN
emaj-348	303	7	,	,	PUNCT
emaj-348	303	8	d.a	d.a	PROPN
emaj-348	303	9	.	.	PROPN
emaj-348	303	10	(	(	PUNCT
emaj-348	303	11	1986	1986	NUM
emaj-348	303	12	)	)	PUNCT
emaj-348	303	13	‘	'	PUNCT
emaj-348	303	14	the	the	DET
emaj-348	303	15	moderatormediator	moderatormediator	NOUN
emaj-348	303	16	variable	variable	ADJ
emaj-348	303	17	distinction	distinction	NOUN
emaj-348	303	18	in	in	ADP
emaj-348	303	19	social	social	ADJ
emaj-348	303	20	psychological	psychological	ADJ
emaj-348	303	21	research	research	NOUN
emaj-348	303	22	:	:	PUNCT
emaj-348	303	23	conceptual	conceptual	ADJ
emaj-348	303	24	,	,	PUNCT
emaj-348	303	25	strategic	strategic	ADJ
emaj-348	303	26	,	,	PUNCT
emaj-348	303	27	and	and	CCONJ
emaj-348	303	28	statistical	statistical	ADJ
emaj-348	303	29	considerations	consideration	NOUN
emaj-348	303	30	’	'	PUNCT
emaj-348	303	31	,	,	PUNCT
emaj-348	303	32	journal	journal	NOUN
emaj-348	303	33	of	of	ADP
emaj-348	303	34	personality	personality	NOUN
emaj-348	303	35	and	and	CCONJ
emaj-348	303	36	social	social	ADJ
emaj-348	303	37	psychology	psychology	NOUN
emaj-348	303	38	,	,	PUNCT
emaj-348	303	39	51(6	51(6	NOUN
emaj-348	303	40	)	)	PUNCT
emaj-348	303	41	,	,	PUNCT
emaj-348	303	42	1173–1182	1173–1182	NUM
emaj-348	303	43	.	.	PUNCT
emaj-348	304	1	cappa	cappa	PROPN
emaj-348	304	2	,	,	PUNCT
emaj-348	304	3	f.	f.	PROPN
emaj-348	304	4	,	,	PUNCT
emaj-348	304	5	cetrini	cetrini	NOUN
emaj-348	304	6	,	,	PUNCT
emaj-348	304	7	g.	g.	PROPN
emaj-348	304	8	and	and	CCONJ
emaj-348	304	9	oriani	oriani	PROPN
emaj-348	304	10	,	,	PUNCT
emaj-348	304	11	r.	r.	PROPN
emaj-348	304	12	(	(	PUNCT
emaj-348	304	13	2020	2020	NUM
emaj-348	304	14	)	)	PUNCT
emaj-348	304	15	‘	'	PUNCT
emaj-348	304	16	the	the	DET
emaj-348	304	17	impact	impact	NOUN
emaj-348	304	18	of	of	ADP
emaj-348	304	19	corporate	corporate	ADJ
emaj-348	304	20	strategy	strategy	NOUN
emaj-348	304	21	on	on	ADP
emaj-348	304	22	capital	capital	NOUN
emaj-348	304	23	structure	structure	NOUN
emaj-348	304	24	:	:	PUNCT
emaj-348	304	25	evidence	evidence	NOUN
emaj-348	304	26	from	from	ADP
emaj-348	304	27	italian	italian	ADJ
emaj-348	304	28	listed	list	VERB
emaj-348	304	29	firms	firm	NOUN
emaj-348	304	30	’	'	PUNCT
emaj-348	304	31	,	,	PUNCT
emaj-348	304	32	quarterly	quarterly	ADJ
emaj-348	304	33	review	review	NOUN
emaj-348	304	34	of	of	ADP
emaj-348	304	35	economics	economic	NOUN
emaj-348	304	36	and	and	CCONJ
emaj-348	304	37	finance	finance	NOUN
emaj-348	304	38	,	,	PUNCT
emaj-348	304	39	76	76	NUM
emaj-348	304	40	,	,	PUNCT
emaj-348	304	41	379	379	NUM
emaj-348	304	42	–	–	PUNCT
emaj-348	304	43	385	385	NUM
emaj-348	304	44	.	.	PUNCT
emaj-348	305	1	https://doi.org/10.1016/j.qref.2019.09.005	https://doi.org/10.1016/j.qref.2019.09.005	PROPN
emaj-348	305	2	.	.	PUNCT
emaj-348	306	1	dao	dao	PROPN
emaj-348	306	2	,	,	PUNCT
emaj-348	306	3	b.t.t	b.t.t	NOUN
emaj-348	306	4	.	.	PUNCT
emaj-348	307	1	and	and	CCONJ
emaj-348	307	2	ta	ta	PROPN
emaj-348	307	3	,	,	PUNCT
emaj-348	307	4	t.d.n	t.d.n	NOUN
emaj-348	307	5	.	.	PUNCT
emaj-348	308	1	(	(	PUNCT
emaj-348	308	2	2020	2020	NUM
emaj-348	308	3	)	)	PUNCT
emaj-348	308	4	‘	'	PUNCT
emaj-348	308	5	a	a	DET
emaj-348	308	6	meta	meta	ADJ
emaj-348	308	7	-	-	PUNCT
emaj-348	308	8	analysis	analysis	NOUN
emaj-348	308	9	:	:	PUNCT
emaj-348	308	10	capital	capital	NOUN
emaj-348	308	11	structure	structure	NOUN
emaj-348	308	12	and	and	CCONJ
emaj-348	308	13	firm	firm	ADJ
emaj-348	308	14	performance	performance	NOUN
emaj-348	308	15	’	'	PUNCT
emaj-348	308	16	,	,	PUNCT
emaj-348	308	17	journal	journal	NOUN
emaj-348	308	18	of	of	ADP
emaj-348	308	19	economics	economic	NOUN
emaj-348	308	20	and	and	CCONJ
emaj-348	308	21	development	development	NOUN
emaj-348	308	22	,	,	PUNCT
emaj-348	308	23	22(1	22(1	NUM
emaj-348	308	24	)	)	PUNCT
emaj-348	308	25	,	,	PUNCT
emaj-348	308	26	111	111	NUM
emaj-348	308	27	–	–	PUNCT
emaj-348	308	28	129	129	NUM
emaj-348	308	29	.	.	PUNCT
emaj-348	309	1	https://doi.org/10.1108/jed-12-2019-0072	https://doi.org/10.1108/jed-12-2019-0072	NOUN
emaj-348	309	2	.	.	PUNCT
emaj-348	310	1	dao	dao	NOUN
emaj-348	310	2	,	,	PUNCT
emaj-348	310	3	t.t.b	t.t.b	NOUN
emaj-348	310	4	.	.	PUNCT
emaj-348	311	1	and	and	CCONJ
emaj-348	311	2	le	le	PROPN
emaj-348	311	3	,	,	PUNCT
emaj-348	311	4	t.h	t.h	PROPN
emaj-348	311	5	.	.	PROPN
emaj-348	311	6	(	(	PUNCT
emaj-348	311	7	2023	2023	NUM
emaj-348	311	8	)	)	PUNCT
emaj-348	311	9	‘	'	PUNCT
emaj-348	311	10	optimal	optimal	ADJ
emaj-348	311	11	capital	capital	NOUN
emaj-348	311	12	structure	structure	NOUN
emaj-348	311	13	of	of	ADP
emaj-348	311	14	vietnamese	vietnamese	ADJ
emaj-348	311	15	listed	list	VERB
emaj-348	311	16	firms	firm	NOUN
emaj-348	311	17	finance	finance	VERB
emaj-348	311	18	industry	industry	NOUN
emaj-348	311	19	and	and	CCONJ
emaj-348	311	20	consumer	consumer	NOUN
emaj-348	311	21	discretionary	discretionary	ADJ
emaj-348	311	22	industry	industry	NOUN
emaj-348	311	23	’	'	PUNCT
emaj-348	311	24	,	,	PUNCT
emaj-348	311	25	cogent	cogent	ADJ
emaj-348	311	26	social	social	ADJ
emaj-348	311	27	sciences	science	NOUN
emaj-348	311	28	,	,	PUNCT
emaj-348	311	29	9(2	9(2	NUM
emaj-348	311	30	)	)	PUNCT
emaj-348	311	31	.	.	PUNCT
emaj-348	312	1	https://doi.org/10.1080/	https://doi.org/10.1080/	PROPN
emaj-348	312	2	23311886.2023.2245238	23311886.2023.2245238	PROPN
emaj-348	312	3	.	.	PUNCT
emaj-348	313	1	detthamrong	detthamrong	PROPN
emaj-348	313	2	,	,	PUNCT
emaj-348	313	3	u.	u.	NOUN
emaj-348	313	4	,	,	PUNCT
emaj-348	313	5	chancharat	chancharat	NOUN
emaj-348	313	6	,	,	PUNCT
emaj-348	313	7	n.	n.	NOUN
emaj-348	313	8	and	and	CCONJ
emaj-348	313	9	vithessonthi	vithessonthi	NOUN
emaj-348	313	10	,	,	PUNCT
emaj-348	313	11	c.	c.	PROPN
emaj-348	313	12	(	(	PUNCT
emaj-348	313	13	2017	2017	NUM
emaj-348	313	14	)	)	PUNCT
emaj-348	313	15	‘	'	PUNCT
emaj-348	313	16	corporate	corporate	ADJ
emaj-348	313	17	governance	governance	NOUN
emaj-348	313	18	,	,	PUNCT
emaj-348	313	19	capital	capital	NOUN
emaj-348	313	20	structure	structure	NOUN
emaj-348	313	21	and	and	CCONJ
emaj-348	313	22	firm	firm	ADJ
emaj-348	313	23	performance	performance	NOUN
emaj-348	313	24	:	:	PUNCT
emaj-348	313	25	evidence	evidence	NOUN
emaj-348	313	26	from	from	ADP
emaj-348	313	27	thailand	thailand	PROPN
emaj-348	313	28	’	'	PUNCT
emaj-348	313	29	,	,	PUNCT
emaj-348	313	30	research	research	NOUN
emaj-348	313	31	in	in	ADP
emaj-348	313	32	international	international	ADJ
emaj-348	313	33	business	business	NOUN
emaj-348	313	34	and	and	CCONJ
emaj-348	313	35	finance	finance	NOUN
emaj-348	313	36	,	,	PUNCT
emaj-348	313	37	42	42	NUM
emaj-348	313	38	,	,	PUNCT
emaj-348	313	39	689	689	NUM
emaj-348	313	40	-	-	SYM
emaj-348	313	41	709	709	NUM
emaj-348	313	42	.	.	PUNCT
emaj-348	314	1	https://doi.org/10.1016/j.ribaf.2017.07.011	https://doi.org/10.1016/j.ribaf.2017.07.011	NOUN
emaj-348	314	2	.	.	PUNCT
emaj-348	315	1	dinh	dinh	PROPN
emaj-348	315	2	,	,	PUNCT
emaj-348	315	3	h.p	h.p	PROPN
emaj-348	315	4	.	.	PROPN
emaj-348	315	5	,	,	PUNCT
emaj-348	315	6	nguyen	nguyen	PROPN
emaj-348	315	7	,	,	PUNCT
emaj-348	315	8	p.	p.	NOUN
emaj-348	315	9	v.	v.	PROPN
emaj-348	315	10	and	and	CCONJ
emaj-348	315	11	hosseini	hosseini	PROPN
emaj-348	315	12	,	,	PUNCT
emaj-348	315	13	j.c	j.c	PROPN
emaj-348	315	14	.	.	PROPN
emaj-348	315	15	(	(	PUNCT
emaj-348	315	16	2019	2019	NUM
emaj-348	315	17	)	)	PUNCT
emaj-348	315	18	‘	'	PUNCT
emaj-348	315	19	the	the	DET
emaj-348	315	20	impact	impact	NOUN
emaj-348	315	21	of	of	ADP
emaj-348	315	22	product	product	NOUN
emaj-348	315	23	diversification	diversification	NOUN
emaj-348	315	24	and	and	CCONJ
emaj-348	315	25	capital	capital	NOUN
emaj-348	315	26	structure	structure	NOUN
emaj-348	315	27	on	on	ADP
emaj-348	315	28	firm	firm	ADJ
emaj-348	315	29	performance	performance	NOUN
emaj-348	315	30	:	:	PUNCT
emaj-348	315	31	evidence	evidence	NOUN
emaj-348	315	32	from	from	ADP
emaj-348	315	33	vietnamese	vietnamese	ADJ
emaj-348	315	34	manufacturing	manufacturing	NOUN
emaj-348	315	35	enterprises	enterprise	NOUN
emaj-348	315	36	’	'	PUNCT
emaj-348	315	37	,	,	PUNCT
emaj-348	315	38	journal	journal	NOUN
emaj-348	315	39	for	for	ADP
emaj-348	315	40	global	global	ADJ
emaj-348	315	41	business	business	NOUN
emaj-348	315	42	advancement	advancement	NOUN
emaj-348	315	43	,	,	PUNCT
emaj-348	315	44	12(1	12(1	NUM
emaj-348	315	45	)	)	PUNCT
emaj-348	315	46	,	,	PUNCT
emaj-348	315	47	95	95	NUM
emaj-348	315	48	–	–	PUNCT
emaj-348	315	49	116.https://doi.org/10.1504/jgba.2019.09992	116.https://doi.org/10.1504/jgba.2019.09992	NUM
emaj-348	315	50	0	0	X
emaj-348	315	51	.	.	PUNCT
emaj-348	316	1	eagly	eagly	ADV
emaj-348	316	2	,	,	PUNCT
emaj-348	316	3	a.h	a.h	PROPN
emaj-348	316	4	.	.	PROPN
emaj-348	316	5	and	and	CCONJ
emaj-348	316	6	karau	karau	PROPN
emaj-348	316	7	,	,	PUNCT
emaj-348	316	8	s.j	s.j	PROPN
emaj-348	316	9	.	.	PROPN
emaj-348	317	1	(	(	PUNCT
emaj-348	317	2	2002	2002	NUM
emaj-348	317	3	)	)	PUNCT
emaj-348	318	1	‘	'	PUNCT
emaj-348	318	2	role	role	NOUN
emaj-348	318	3	congruity	congruity	NOUN
emaj-348	318	4	theory	theory	NOUN
emaj-348	318	5	of	of	ADP
emaj-348	318	6	prejudice	prejudice	NOUN
emaj-348	318	7	toward	toward	ADP
emaj-348	318	8	female	female	ADJ
emaj-348	318	9	leaders	leader	NOUN
emaj-348	318	10	’	'	PUNCT
emaj-348	318	11	,	,	PUNCT
emaj-348	318	12	psychological	psychological	ADJ
emaj-348	318	13	review	review	NOUN
emaj-348	318	14	,	,	PUNCT
emaj-348	318	15	109(3	109(3	NUM
emaj-348	318	16	)	)	PUNCT
emaj-348	318	17	,	,	PUNCT
emaj-348	318	18	573–598	573–598	NUM
emaj-348	318	19	.	.	PUNCT
emaj-348	319	1	https://doi.org/10.1037/0033-295x.109.3.573	https://doi.org/10.1037/0033-295x.109.3.573	PROPN
emaj-348	319	2	.	.	PUNCT
emaj-348	319	3	farhan	farhan	PROPN
emaj-348	319	4	,	,	PUNCT
emaj-348	319	5	n.h.s	n.h.s	PROPN
emaj-348	319	6	.	.	PROPN
emaj-348	319	7	,	,	PUNCT
emaj-348	319	8	tabash	tabash	PROPN
emaj-348	319	9	,	,	PUNCT
emaj-348	319	10	m.i	m.i	PROPN
emaj-348	319	11	.	.	PROPN
emaj-348	319	12	,	,	PUNCT
emaj-348	319	13	alsamhi	alsamhi	PROPN
emaj-348	319	14	,	,	PUNCT
emaj-348	319	15	m.h	m.h	PROPN
emaj-348	319	16	.	.	PROPN
emaj-348	320	1	and	and	CCONJ
emaj-348	320	2	yahya	yahya	PROPN
emaj-348	320	3	,	,	PUNCT
emaj-348	320	4	a.t	a.t	PROPN
emaj-348	320	5	.	.	PROPN
emaj-348	320	6	(	(	PUNCT
emaj-348	320	7	2020	2020	NUM
emaj-348	320	8	)	)	PUNCT
emaj-348	321	1	‘	'	PUNCT
emaj-348	321	2	the	the	DET
emaj-348	321	3	relationship	relationship	NOUN
emaj-348	321	4	between	between	ADP
emaj-348	321	5	capital	capital	NOUN
emaj-348	321	6	structure	structure	NOUN
emaj-348	321	7	and	and	CCONJ
emaj-348	321	8	firm	firm	ADJ
emaj-348	321	9	performance	performance	NOUN
emaj-348	321	10	:	:	PUNCT
emaj-348	321	11	empirical	empirical	ADJ
emaj-348	321	12	evidence	evidence	NOUN
emaj-348	321	13	from	from	ADP
emaj-348	321	14	indian	indian	ADJ
emaj-348	321	15	service	service	NOUN
emaj-348	321	16	sector	sector	NOUN
emaj-348	321	17	’	'	PUNCT
emaj-348	321	18	,	,	PUNCT
emaj-348	321	19	international	international	ADJ
emaj-348	321	20	journal	journal	NOUN
emaj-348	321	21	of	of	ADP
emaj-348	321	22	sustainable	sustainable	ADJ
emaj-348	321	23	economy	economy	NOUN
emaj-348	321	24	,	,	PUNCT
emaj-348	321	25	12(2	12(2	NUM
emaj-348	321	26	)	)	PUNCT
emaj-348	321	27	,	,	PUNCT
emaj-348	321	28	140	140	NUM
emaj-348	321	29	-	-	SYM
emaj-348	321	30	162	162	NUM
emaj-348	321	31	.	.	PUNCT
emaj-348	322	1	https://doi.org/doi.org/10.1504/	https://doi.org/doi.org/10.1504/	PROPN
emaj-348	322	2	ijse.2020.110262	ijse.2020.110262	PROPN
emaj-348	322	3	.	.	PROPN
emaj-348	323	1	grosvold	grosvold	PROPN
emaj-348	323	2	,	,	PUNCT
emaj-348	323	3	j.	j.	PROPN
emaj-348	323	4	,	,	PUNCT
emaj-348	323	5	rayton	rayton	PROPN
emaj-348	323	6	,	,	PUNCT
emaj-348	323	7	b.	b.	PROPN
emaj-348	323	8	and	and	CCONJ
emaj-348	323	9	brammer	brammer	PROPN
emaj-348	323	10	,	,	PUNCT
emaj-348	323	11	s.	s.	PROPN
emaj-348	323	12	(	(	PUNCT
emaj-348	323	13	2016	2016	NUM
emaj-348	323	14	)	)	PUNCT
emaj-348	323	15	‘	'	PUNCT
emaj-348	323	16	women	woman	NOUN
emaj-348	323	17	on	on	ADP
emaj-348	323	18	corporate	corporate	ADJ
emaj-348	323	19	boards	board	NOUN
emaj-348	323	20	:	:	PUNCT
emaj-348	323	21	a	a	DET
emaj-348	323	22	comparative	comparative	ADJ
emaj-348	323	23	institutional	institutional	ADJ
emaj-348	323	24	analysis	analysis	NOUN
emaj-348	323	25	’	'	PUNCT
emaj-348	323	26	,	,	PUNCT
emaj-348	323	27	business	business	NOUN
emaj-348	323	28	and	and	CCONJ
emaj-348	323	29	society	society	NOUN
emaj-348	323	30	,	,	PUNCT
emaj-348	323	31	55(8	55(8	NUM
emaj-348	323	32	)	)	PUNCT
emaj-348	323	33	,	,	PUNCT
emaj-348	323	34	1157	1157	NUM
emaj-348	323	35	-	-	SYM
emaj-348	323	36	1196	1196	NUM
emaj-348	323	37	.	.	PUNCT
emaj-348	324	1	https://doi.org/10.1177/	https://doi.org/10.1177/	PROPN
emaj-348	324	2	0007650315613980	0007650315613980	NUM
emaj-348	324	3	.	.	PUNCT
emaj-348	324	4	hambrick	hambrick	PROPN
emaj-348	324	5	,	,	PUNCT
emaj-348	324	6	d.c	d.c	PROPN
emaj-348	324	7	.	.	PUNCT
emaj-348	325	1	(	(	PUNCT
emaj-348	325	2	2007	2007	NUM
emaj-348	325	3	)	)	PUNCT
emaj-348	325	4	‘	'	PUNCT
emaj-348	325	5	upper	upper	ADJ
emaj-348	325	6	echelons	echelon	NOUN
emaj-348	325	7	theory	theory	NOUN
emaj-348	325	8	:	:	PUNCT
emaj-348	325	9	an	an	DET
emaj-348	325	10	update	update	NOUN
emaj-348	325	11	’	'	PUNCT
emaj-348	325	12	,	,	PUNCT
emaj-348	325	13	academy	academy	NOUN
emaj-348	325	14	of	of	ADP
emaj-348	325	15	management	management	PROPN
emaj-348	325	16	review	review	PROPN
emaj-348	325	17	,	,	PUNCT
emaj-348	325	18	3(2	3(2	NUM
emaj-348	325	19	)	)	PUNCT
emaj-348	325	20	,	,	PUNCT
emaj-348	325	21	334–343	334–343	NUM
emaj-348	325	22	.	.	PUNCT
emaj-348	326	1	haslam	haslam	PROPN
emaj-348	326	2	,	,	PUNCT
emaj-348	326	3	s.a	s.a	PROPN
emaj-348	326	4	.	.	PROPN
emaj-348	326	5	,	,	PUNCT
emaj-348	326	6	ryan	ryan	PROPN
emaj-348	326	7	,	,	PUNCT
emaj-348	326	8	m.k	m.k	PROPN
emaj-348	326	9	.	.	PROPN
emaj-348	326	10	,	,	PUNCT
emaj-348	326	11	kulich	kulich	PROPN
emaj-348	326	12	,	,	PUNCT
emaj-348	326	13	c.	c.	PROPN
emaj-348	326	14	,	,	PUNCT
emaj-348	326	15	trojanowski	trojanowski	NOUN
emaj-348	326	16	,	,	PUNCT
emaj-348	326	17	g.	g.	PROPN
emaj-348	326	18	and	and	CCONJ
emaj-348	326	19	atkins	atkins	PROPN
emaj-348	326	20	,	,	PUNCT
emaj-348	326	21	c.	c.	PROPN
emaj-348	326	22	(	(	PUNCT
emaj-348	326	23	2010	2010	NUM
emaj-348	326	24	)	)	PUNCT
emaj-348	326	25	‘	'	PUNCT
emaj-348	326	26	investing	invest	VERB
emaj-348	326	27	with	with	ADP
emaj-348	326	28	prejudice	prejudice	NOUN
emaj-348	326	29	:	:	PUNCT
emaj-348	326	30	the	the	DET
emaj-348	326	31	relationship	relationship	NOUN
emaj-348	326	32	between	between	ADP
emaj-348	326	33	women	woman	NOUN
emaj-348	326	34	’s	’s	PART
emaj-348	326	35	presence	presence	NOUN
emaj-348	326	36	on	on	ADP
emaj-348	326	37	company	company	NOUN
emaj-348	326	38	boards	board	NOUN
emaj-348	326	39	and	and	CCONJ
emaj-348	326	40	objective	objective	ADJ
emaj-348	326	41	and	and	CCONJ
emaj-348	326	42	subjective	subjective	ADJ
emaj-348	326	43	measures	measure	NOUN
emaj-348	326	44	of	of	ADP
emaj-348	326	45	company	company	NOUN
emaj-348	326	46	performance	performance	NOUN
emaj-348	326	47	’	'	PUNCT
emaj-348	326	48	,	,	PUNCT
emaj-348	326	49	british	british	ADJ
emaj-348	326	50	journal	journal	PROPN
emaj-348	326	51	of	of	ADP
emaj-348	326	52	management	management	NOUN
emaj-348	326	53	,	,	PUNCT
emaj-348	326	54	21(2	21(2	NUM
emaj-348	326	55	)	)	PUNCT
emaj-348	326	56	,	,	PUNCT
emaj-348	326	57	484–497	484–497	NUM
emaj-348	326	58	.	.	PUNCT
emaj-348	326	59	https://doi.org/10.1111/j.1467-8551.2009.0067	https://doi.org/10.1111/j.1467-8551.2009.0067	PROPN
emaj-348	326	60	0.x	0.x	PROPN
emaj-348	326	61	.	.	PUNCT
emaj-348	327	1	jensen	jensen	PROPN
emaj-348	327	2	,	,	PUNCT
emaj-348	327	3	mc	mc	PROPN
emaj-348	327	4	.	.	PROPN
emaj-348	327	5	and	and	CCONJ
emaj-348	327	6	meckling	meckling	PROPN
emaj-348	327	7	,	,	PUNCT
emaj-348	327	8	w.	w.	PROPN
emaj-348	327	9	(	(	PUNCT
emaj-348	327	10	1976	1976	NUM
emaj-348	327	11	)	)	PUNCT
emaj-348	327	12	‘	'	PUNCT
emaj-348	327	13	theory	theory	NOUN
emaj-348	327	14	of	of	ADP
emaj-348	327	15	the	the	DET
emaj-348	327	16	firm	firm	NOUN
emaj-348	327	17	:	:	PUNCT
emaj-348	327	18	managerial	managerial	ADJ
emaj-348	327	19	behavior	behavior	NOUN
emaj-348	327	20	,	,	PUNCT
emaj-348	327	21	agency	agency	NOUN
emaj-348	327	22	costs	cost	NOUN
emaj-348	327	23	and	and	CCONJ
emaj-348	327	24	capital	capital	NOUN
emaj-348	327	25	structure	structure	NOUN
emaj-348	327	26	’	'	PUNCT
emaj-348	327	27	,	,	PUNCT
emaj-348	327	28	journal	journal	NOUN
emaj-348	327	29	of	of	ADP
emaj-348	327	30	financial	financial	ADJ
emaj-348	327	31	economics	economic	NOUN
emaj-348	327	32	,	,	PUNCT
emaj-348	327	33	3(4	3(4	NUM
emaj-348	327	34	)	)	PUNCT
emaj-348	327	35	,	,	PUNCT
emaj-348	327	36	305	305	NUM
emaj-348	327	37	-	-	SYM
emaj-348	327	38	360	360	NUM
emaj-348	327	39	.	.	PUNCT
emaj-348	328	1	https://doi.org/10.1086/467051	https://doi.org/10.1086/467051	PROPN
emaj-348	328	2	.	.	PUNCT
emaj-348	329	1	kraus	kraus	PROPN
emaj-348	329	2	,	,	PUNCT
emaj-348	329	3	a.	a.	NOUN
emaj-348	329	4	and	and	CCONJ
emaj-348	329	5	litzenberger	litzenberger	NOUN
emaj-348	329	6	,	,	PUNCT
emaj-348	329	7	r.h	r.h	PROPN
emaj-348	329	8	.	.	PROPN
emaj-348	329	9	(	(	PUNCT
emaj-348	329	10	1973	1973	NUM
emaj-348	329	11	)	)	PUNCT
emaj-348	329	12	‘	'	PUNCT
emaj-348	329	13	american	american	PROPN
emaj-348	329	14	finance	finance	PROPN
emaj-348	329	15	association	association	PROPN
emaj-348	329	16	a	a	DET
emaj-348	329	17	state	state	NOUN
emaj-348	329	18	-	-	PUNCT
emaj-348	329	19	preference	preference	NOUN
emaj-348	329	20	model	model	NOUN
emaj-348	329	21	of	of	ADP
emaj-348	329	22	optimal	optimal	ADJ
emaj-348	329	23	financial	financial	ADJ
emaj-348	329	24	leverage	leverage	NOUN
emaj-348	329	25	a	a	DET
emaj-348	329	26	statepreference	statepreference	NOUN
emaj-348	329	27	model	model	NOUN
emaj-348	329	28	of	of	ADP
emaj-348	329	29	optimal	optimal	ADJ
emaj-348	329	30	financial	financial	ADJ
emaj-348	329	31	leverage	leverage	NOUN
emaj-348	329	32	’	'	PUNCT
emaj-348	329	33	,	,	PUNCT
emaj-348	329	34	the	the	DET
emaj-348	329	35	journal	journal	NOUN
emaj-348	329	36	of	of	ADP
emaj-348	329	37	finance	finance	NOUN
emaj-348	329	38	,	,	PUNCT
emaj-348	329	39	28(4	28(4	NUM
emaj-348	329	40	)	)	PUNCT
emaj-348	329	41	,	,	PUNCT
emaj-348	329	42	911	911	NUM
emaj-348	329	43	–	–	PUNCT
emaj-348	329	44	922	922	NUM
emaj-348	329	45	.	.	PUNCT
emaj-348	329	46	https://doi.org/doi.org/10.2307/2978343	https://doi.org/doi.org/10.2307/2978343	PROPN
emaj-348	329	47	.	.	PUNCT
emaj-348	329	48	kumar	kumar	PROPN
emaj-348	329	49	,	,	PUNCT
emaj-348	329	50	s.	s.	PROPN
emaj-348	329	51	,	,	PUNCT
emaj-348	329	52	sureka	sureka	PROPN
emaj-348	329	53	,	,	PUNCT
emaj-348	329	54	r.	r.	PROPN
emaj-348	329	55	and	and	CCONJ
emaj-348	329	56	colombage	colombage	PROPN
emaj-348	329	57	,	,	PUNCT
emaj-348	329	58	s.	s.	PROPN
emaj-348	329	59	(	(	PUNCT
emaj-348	329	60	2020	2020	NUM
emaj-348	329	61	)	)	PUNCT
emaj-348	329	62	‘	'	PUNCT
emaj-348	329	63	capital	capital	NOUN
emaj-348	329	64	structure	structure	NOUN
emaj-348	329	65	of	of	ADP
emaj-348	329	66	smes	sme	NOUN
emaj-348	329	67	:	:	PUNCT
emaj-348	329	68	a	a	DET
emaj-348	329	69	systematic	systematic	ADJ
emaj-348	329	70	literature	literature	NOUN
emaj-348	329	71	review	review	NOUN
emaj-348	329	72	and	and	CCONJ
emaj-348	329	73	bibliometric	bibliometric	ADJ
emaj-348	329	74	analysis	analysis	NOUN
emaj-348	329	75	’	'	PUNCT
emaj-348	329	76	,	,	PUNCT
emaj-348	329	77	management	management	NOUN
emaj-348	329	78	review	review	NOUN
emaj-348	329	79	quarterly	quarterly	ADJ
emaj-348	329	80	,	,	PUNCT
emaj-348	329	81	70(4	70(4	NUM
emaj-348	329	82	)	)	PUNCT
emaj-348	329	83	,	,	PUNCT
emaj-348	329	84	535–565	535–565	NUM
emaj-348	329	85	.	.	PUNCT
emaj-348	330	1	https://doi.org/10.1007/s11301-019-00175-4	https://doi.org/10.1007/s11301-019-00175-4	NOUN
emaj-348	330	2	.	.	PUNCT
emaj-348	331	1	volume	volume	NOUN
emaj-348	331	2	14	14	NUM
emaj-348	331	3	no	no	DET
emaj-348	331	4	2	2	NUM
emaj-348	331	5	(	(	PUNCT
emaj-348	331	6	2024	2024	NUM
emaj-348	331	7	)	)	PUNCT
emaj-348	331	8	|	|	ADV
emaj-348	331	9	issn	issn	VERB
emaj-348	331	10	2158	2158	NUM
emaj-348	331	11	-	-	SYM
emaj-348	331	12	8708	8708	NUM
emaj-348	331	13	(	(	PUNCT
emaj-348	331	14	online	online	NOUN
emaj-348	331	15	)	)	PUNCT
emaj-348	331	16	|	|	ADV
emaj-348	331	17	doi	doi	X
emaj-348	331	18	10.5195	10.5195	NUM
emaj-348	331	19	/	/	SYM
emaj-348	331	20	emaj.2024.348	emaj.2024.348	NOUN
emaj-348	332	1	|	|	NOUN
emaj-348	332	2	http://emaj.pitt.edu	http://emaj.pitt.edu	VERB
emaj-348	332	3	idorenyin	idorenyin	PROPN
emaj-348	332	4	okon	okon	PROPN
emaj-348	332	5	,	,	PUNCT
emaj-348	332	6	ozele	ozele	PROPN
emaj-348	332	7	clement	clement	PROPN
emaj-348	332	8	emerging	emerge	VERB
emaj-348	332	9	markets	market	NOUN
emaj-348	332	10	journal	journal	PROPN
emaj-348	332	11	page	page	PROPN
emaj-348	332	12	|45|	|45|	PROPN
emaj-348	332	13	le	le	X
emaj-348	332	14	,	,	PUNCT
emaj-348	332	15	t.p.v	t.p.v	PROPN
emaj-348	332	16	.	.	PROPN
emaj-348	332	17	and	and	CCONJ
emaj-348	332	18	phan	phan	PROPN
emaj-348	332	19	,	,	PUNCT
emaj-348	332	20	t.b.n	t.b.n	NOUN
emaj-348	332	21	.	.	PUNCT
emaj-348	332	22	(	(	PUNCT
emaj-348	332	23	2017	2017	NUM
emaj-348	332	24	)	)	PUNCT
emaj-348	332	25	‘	'	PUNCT
emaj-348	332	26	capital	capital	NOUN
emaj-348	332	27	structure	structure	NOUN
emaj-348	332	28	and	and	CCONJ
emaj-348	332	29	firm	firm	ADJ
emaj-348	332	30	performance	performance	NOUN
emaj-348	332	31	:	:	PUNCT
emaj-348	332	32	empirical	empirical	ADJ
emaj-348	332	33	evidence	evidence	NOUN
emaj-348	332	34	from	from	ADP
emaj-348	332	35	a	a	DET
emaj-348	332	36	small	small	ADJ
emaj-348	332	37	transition	transition	NOUN
emaj-348	332	38	country	country	NOUN
emaj-348	332	39	’	'	PUNCT
emaj-348	332	40	,	,	PUNCT
emaj-348	332	41	research	research	NOUN
emaj-348	332	42	in	in	ADP
emaj-348	332	43	international	international	ADJ
emaj-348	332	44	business	business	NOUN
emaj-348	332	45	and	and	CCONJ
emaj-348	332	46	finance	finance	NOUN
emaj-348	332	47	,	,	PUNCT
emaj-348	332	48	42	42	NUM
emaj-348	332	49	,	,	PUNCT
emaj-348	332	50	710	710	NUM
emaj-348	332	51	–	–	PUNCT
emaj-348	332	52	726.https://doi.org/10.1016/j.ribaf.2017.07.012	726.https://doi.org/10.1016/j.ribaf.2017.07.012	NUM
emaj-348	332	53	.	.	PUNCT
emaj-348	333	1	mangudhla	mangudhla	NOUN
emaj-348	333	2	,	,	PUNCT
emaj-348	333	3	t.	t.	PROPN
emaj-348	333	4	,	,	PUNCT
emaj-348	333	5	dodoo	dodoo	PROPN
emaj-348	333	6	,	,	PUNCT
emaj-348	333	7	r.	r.	PROPN
emaj-348	333	8	and	and	CCONJ
emaj-348	333	9	kumi	kumi	PROPN
emaj-348	333	10	,	,	PUNCT
emaj-348	333	11	m.	m.	NOUN
emaj-348	333	12	(	(	PUNCT
emaj-348	333	13	2023	2023	NUM
emaj-348	333	14	)	)	PUNCT
emaj-348	333	15	‘	'	PUNCT
emaj-348	333	16	the	the	DET
emaj-348	333	17	effect	effect	NOUN
emaj-348	333	18	of	of	ADP
emaj-348	333	19	capital	capital	NOUN
emaj-348	333	20	structure	structure	NOUN
emaj-348	333	21	on	on	ADP
emaj-348	333	22	firm	firm	ADJ
emaj-348	333	23	performance	performance	NOUN
emaj-348	333	24	;	;	PUNCT
emaj-348	333	25	an	an	DET
emaj-348	333	26	empirical	empirical	ADJ
emaj-348	333	27	evidence	evidence	NOUN
emaj-348	333	28	from	from	ADP
emaj-348	333	29	emerging	emerge	VERB
emaj-348	333	30	economy	economy	NOUN
emaj-348	333	31	’	'	PUNCT
emaj-348	333	32	,	,	PUNCT
emaj-348	333	33	euromed	euromed	ADJ
emaj-348	333	34	journal	journal	PROPN
emaj-348	333	35	of	of	ADP
emaj-348	333	36	management	management	NOUN
emaj-348	333	37	,	,	PUNCT
emaj-348	333	38	5(1	5(1	NUM
emaj-348	333	39	)	)	PUNCT
emaj-348	333	40	,	,	PUNCT
emaj-348	333	41	1	1	X
emaj-348	333	42	.	.	PUNCT
emaj-348	333	43	https://doi.org/10.1504/	https://doi.org/10.1504/	PROPN
emaj-348	333	44	emjm.2023.10052497	emjm.2023.10052497	PROPN
emaj-348	333	45	.	.	PUNCT
emaj-348	334	1	mavruk	mavruk	PROPN
emaj-348	334	2	,	,	PUNCT
emaj-348	334	3	t.	t.	NOUN
emaj-348	334	4	and	and	CCONJ
emaj-348	334	5	sjögren	sjögren	PROPN
emaj-348	334	6	,	,	PUNCT
emaj-348	334	7	s.	s.	PROPN
emaj-348	334	8	(	(	PUNCT
emaj-348	334	9	2021	2021	NUM
emaj-348	334	10	)	)	PUNCT
emaj-348	334	11	‘	'	PUNCT
emaj-348	334	12	capital	capital	NOUN
emaj-348	334	13	structure	structure	NOUN
emaj-348	334	14	and	and	CCONJ
emaj-348	334	15	monitoring	monitoring	NOUN
emaj-348	334	16	by	by	ADP
emaj-348	334	17	local	local	ADJ
emaj-348	334	18	owners	owner	NOUN
emaj-348	334	19	’	'	PUNCT
emaj-348	334	20	,	,	PUNCT
emaj-348	334	21	applied	apply	VERB
emaj-348	334	22	economics	economic	NOUN
emaj-348	334	23	,	,	PUNCT
emaj-348	334	24	53(40	53(40	NUM
emaj-348	334	25	)	)	PUNCT
emaj-348	334	26	,	,	PUNCT
emaj-348	334	27	4614–4631	4614–4631	NOUN
emaj-348	334	28	.	.	PUNCT
emaj-348	335	1	https://doi.org/10.1080/00036846.2021.190412	https://doi.org/10.1080/00036846.2021.190412	PROPN
emaj-348	335	2	7	7	X
emaj-348	335	3	.	.	PUNCT
emaj-348	335	4	mehzabin	mehzabin	PROPN
emaj-348	335	5	,	,	PUNCT
emaj-348	335	6	s.	s.	PROPN
emaj-348	335	7	,	,	PUNCT
emaj-348	335	8	shahriar	shahriar	PROPN
emaj-348	335	9	,	,	PUNCT
emaj-348	335	10	a.	a.	NOUN
emaj-348	335	11	,	,	PUNCT
emaj-348	335	12	hoque	hoque	NOUN
emaj-348	335	13	,	,	PUNCT
emaj-348	335	14	m.n	m.n	PROPN
emaj-348	335	15	.	.	PROPN
emaj-348	335	16	,	,	PUNCT
emaj-348	335	17	wanke	wanke	ADJ
emaj-348	335	18	,	,	PUNCT
emaj-348	335	19	p.	p.	NOUN
emaj-348	335	20	and	and	CCONJ
emaj-348	335	21	azad	azad	PROPN
emaj-348	335	22	,	,	PUNCT
emaj-348	335	23	md.a.k	md.a.k	PROPN
emaj-348	335	24	.	.	PUNCT
emaj-348	336	1	(	(	PUNCT
emaj-348	336	2	2023	2023	NUM
emaj-348	336	3	)	)	PUNCT
emaj-348	336	4	‘	'	PUNCT
emaj-348	336	5	the	the	DET
emaj-348	336	6	effect	effect	NOUN
emaj-348	336	7	of	of	ADP
emaj-348	336	8	capital	capital	NOUN
emaj-348	336	9	structure	structure	NOUN
emaj-348	336	10	,	,	PUNCT
emaj-348	336	11	operating	operate	VERB
emaj-348	336	12	efficiency	efficiency	NOUN
emaj-348	336	13	and	and	CCONJ
emaj-348	336	14	non	non	ADJ
emaj-348	336	15	-	-	ADJ
emaj-348	336	16	interest	interest	ADJ
emaj-348	336	17	income	income	NOUN
emaj-348	336	18	on	on	ADP
emaj-348	336	19	bank	bank	NOUN
emaj-348	336	20	profitability	profitability	NOUN
emaj-348	336	21	:	:	PUNCT
emaj-348	336	22	new	new	ADJ
emaj-348	336	23	evidence	evidence	NOUN
emaj-348	336	24	from	from	ADP
emaj-348	336	25	asia	asia	PROPN
emaj-348	336	26	’	'	PUNCT
emaj-348	336	27	,	,	PUNCT
emaj-348	336	28	asian	asian	ADJ
emaj-348	336	29	journal	journal	NOUN
emaj-348	336	30	of	of	ADP
emaj-348	336	31	economics	economic	NOUN
emaj-348	336	32	and	and	CCONJ
emaj-348	336	33	banking	banking	NOUN
emaj-348	336	34	,	,	PUNCT
emaj-348	336	35	7(1	7(1	NUM
emaj-348	336	36	)	)	PUNCT
emaj-348	336	37	,	,	PUNCT
emaj-348	336	38	25	25	NUM
emaj-348	336	39	-	-	SYM
emaj-348	336	40	44	44	NUM
emaj-348	336	41	.	.	PUNCT
emaj-348	337	1	https://doi.org/10.1108/	https://doi.org/10.1108/	PROPN
emaj-348	337	2	ajeb-03	ajeb-03	PROPN
emaj-348	337	3	-	-	PUNCT
emaj-348	337	4	2022	2022	NUM
emaj-348	337	5	-	-	SYM
emaj-348	337	6	0036	0036	NUM
emaj-348	337	7	.	.	PUNCT
emaj-348	338	1	ngatno	ngatno	PROPN
emaj-348	338	2	,	,	PUNCT
emaj-348	338	3	apriatni	apriatni	PROPN
emaj-348	338	4	,	,	PUNCT
emaj-348	338	5	e.p	e.p	PROPN
emaj-348	338	6	.	.	PROPN
emaj-348	338	7	and	and	CCONJ
emaj-348	338	8	youlianto	youlianto	NOUN
emaj-348	338	9	,	,	PUNCT
emaj-348	338	10	a.	a.	NOUN
emaj-348	338	11	(	(	PUNCT
emaj-348	338	12	2021	2021	NUM
emaj-348	338	13	)	)	PUNCT
emaj-348	338	14	‘	'	PUNCT
emaj-348	338	15	moderating	moderate	VERB
emaj-348	338	16	effects	effect	NOUN
emaj-348	338	17	of	of	ADP
emaj-348	338	18	corporate	corporate	ADJ
emaj-348	338	19	governance	governance	NOUN
emaj-348	338	20	mechanism	mechanism	NOUN
emaj-348	338	21	on	on	ADP
emaj-348	338	22	the	the	DET
emaj-348	338	23	relation	relation	NOUN
emaj-348	338	24	between	between	ADP
emaj-348	338	25	capital	capital	NOUN
emaj-348	338	26	structure	structure	NOUN
emaj-348	338	27	and	and	CCONJ
emaj-348	338	28	firm	firm	ADJ
emaj-348	338	29	performance	performance	NOUN
emaj-348	338	30	’	'	PUNCT
emaj-348	338	31	,	,	PUNCT
emaj-348	338	32	cogent	cogent	NOUN
emaj-348	338	33	business	business	NOUN
emaj-348	338	34	and	and	CCONJ
emaj-348	338	35	management	management	NOUN
emaj-348	338	36	,	,	PUNCT
emaj-348	338	37	8(1	8(1	NOUN
emaj-348	338	38	)	)	PUNCT
emaj-348	338	39	.	.	PUNCT
emaj-348	339	1	https://doi.org/10.1080/23311975.2020.186682	https://doi.org/10.1080/23311975.2020.186682	ADV
emaj-348	339	2	2	2	NUM
emaj-348	339	3	.	.	X
emaj-348	339	4	owusu	owusu	PROPN
emaj-348	339	5	adusei	adusei	PROPN
emaj-348	339	6	,	,	PUNCT
emaj-348	339	7	d.	d.	PROPN
emaj-348	339	8	and	and	CCONJ
emaj-348	339	9	amoa	amoa	PROPN
emaj-348	339	10	gyarteng	gyarteng	PROPN
emaj-348	339	11	,	,	PUNCT
emaj-348	339	12	k.	k.	PROPN
emaj-348	339	13	(	(	PUNCT
emaj-348	339	14	2023	2023	NUM
emaj-348	339	15	)	)	PUNCT
emaj-348	339	16	‘	'	PUNCT
emaj-348	339	17	capital	capital	NOUN
emaj-348	339	18	structure	structure	NOUN
emaj-348	339	19	and	and	CCONJ
emaj-348	339	20	solvency	solvency	NOUN
emaj-348	339	21	of	of	ADP
emaj-348	339	22	manufacturing	manufacturing	NOUN
emaj-348	339	23	firms	firm	NOUN
emaj-348	339	24	:	:	PUNCT
emaj-348	339	25	evidence	evidence	NOUN
emaj-348	339	26	from	from	ADP
emaj-348	339	27	ghana	ghana	PROPN
emaj-348	339	28	’	'	PUNCT
emaj-348	339	29	,	,	PUNCT
emaj-348	339	30	african	african	PROPN
emaj-348	339	31	j.	j.	PROPN
emaj-348	339	32	of	of	ADP
emaj-348	339	33	accounting	accounting	PROPN
emaj-348	339	34	,	,	PUNCT
emaj-348	339	35	auditing	auditing	NOUN
emaj-348	339	36	and	and	CCONJ
emaj-348	339	37	finance	finance	NOUN
emaj-348	339	38	,	,	PUNCT
emaj-348	339	39	1(1).https://doi.org/10.1504	1(1).https://doi.org/10.1504	NUM
emaj-348	339	40	/	/	SYM
emaj-348	339	41	ajaaf.2023.100583	ajaaf.2023.100583	NOUN
emaj-348	339	42	39	39	NUM
emaj-348	339	43	.	.	PUNCT
emaj-348	340	1	rani	rani	PROPN
emaj-348	340	2	,	,	PUNCT
emaj-348	340	3	n.	n.	PROPN
emaj-348	340	4	,	,	PUNCT
emaj-348	340	5	yadav	yadav	PROPN
emaj-348	340	6	,	,	PUNCT
emaj-348	340	7	s.s	s.s	PROPN
emaj-348	340	8	.	.	PROPN
emaj-348	340	9	and	and	CCONJ
emaj-348	340	10	tripathy	tripathy	PROPN
emaj-348	340	11	,	,	PUNCT
emaj-348	340	12	n.	n.	NOUN
emaj-348	340	13	(	(	PUNCT
emaj-348	340	14	2020	2020	NUM
emaj-348	340	15	)	)	PUNCT
emaj-348	340	16	‘	'	PUNCT
emaj-348	340	17	capital	capital	NOUN
emaj-348	340	18	structure	structure	NOUN
emaj-348	340	19	dynamics	dynamic	NOUN
emaj-348	340	20	of	of	ADP
emaj-348	340	21	indian	indian	ADJ
emaj-348	340	22	corporates	corporate	NOUN
emaj-348	340	23	’	'	PUNCT
emaj-348	340	24	,	,	PUNCT
emaj-348	340	25	journal	journal	NOUN
emaj-348	340	26	of	of	ADP
emaj-348	340	27	advances	advance	NOUN
emaj-348	340	28	in	in	ADP
emaj-348	340	29	management	management	NOUN
emaj-348	340	30	research	research	NOUN
emaj-348	340	31	,	,	PUNCT
emaj-348	340	32	17(2	17(2	NUM
emaj-348	340	33	)	)	PUNCT
emaj-348	340	34	,	,	PUNCT
emaj-348	340	35	212–225	212–225	NUM
emaj-348	340	36	.	.	PUNCT
emaj-348	341	1	https://doi.org/10.1108/jamr12-2017-0125	https://doi.org/10.1108/jamr12-2017-0125	PROPN
emaj-348	341	2	.	.	PUNCT
emaj-348	342	1	roodman	roodman	PROPN
emaj-348	342	2	,	,	PUNCT
emaj-348	342	3	d.	d.	PROPN
emaj-348	342	4	(	(	PUNCT
emaj-348	342	5	2009	2009	NUM
emaj-348	342	6	)	)	PUNCT
emaj-348	342	7	‘	'	PUNCT
emaj-348	342	8	how	how	SCONJ
emaj-348	342	9	to	to	PART
emaj-348	342	10	do	do	VERB
emaj-348	342	11	xtabond2	xtabond2	NOUN
emaj-348	342	12	:	:	PUNCT
emaj-348	342	13	an	an	DET
emaj-348	342	14	introduction	introduction	NOUN
emaj-348	342	15	to	to	ADP
emaj-348	342	16	difference	difference	NOUN
emaj-348	342	17	and	and	CCONJ
emaj-348	342	18	system	system	NOUN
emaj-348	342	19	gmm	gmm	NOUN
emaj-348	342	20	in	in	ADP
emaj-348	342	21	stata	stata	NOUN
emaj-348	342	22	’	'	PUNCT
emaj-348	342	23	,	,	PUNCT
emaj-348	342	24	the	the	DET
emaj-348	342	25	stata	stata	NOUN
emaj-348	342	26	journal	journal	NOUN
emaj-348	342	27	,	,	PUNCT
emaj-348	342	28	9(1	9(1	NUM
emaj-348	342	29	)	)	PUNCT
emaj-348	342	30	,	,	PUNCT
emaj-348	342	31	86	86	NUM
emaj-348	342	32	-	-	SYM
emaj-348	342	33	136	136	NUM
emaj-348	342	34	.	.	PUNCT
emaj-348	343	1	sadiq	sadiq	PROPN
emaj-348	343	2	,	,	PUNCT
emaj-348	343	3	m.	m.	NOUN
emaj-348	343	4	,	,	PUNCT
emaj-348	343	5	yousaf	yousaf	PROPN
emaj-348	343	6	,	,	PUNCT
emaj-348	343	7	s.u	s.u	PROPN
emaj-348	343	8	.	.	PROPN
emaj-348	343	9	,	,	PUNCT
emaj-348	343	10	anser	anser	PROPN
emaj-348	343	11	,	,	PUNCT
emaj-348	343	12	m.k	m.k	PROPN
emaj-348	343	13	.	.	PROPN
emaj-348	343	14	,	,	PUNCT
emaj-348	343	15	rashid	rashid	PROPN
emaj-348	343	16	khan	khan	PROPN
emaj-348	343	17	,	,	PUNCT
emaj-348	343	18	h.	h.	PROPN
emaj-348	343	19	ur	ur	INTJ
emaj-348	343	20	,	,	PUNCT
emaj-348	343	21	sriyanto	sriyanto	PROPN
emaj-348	343	22	,	,	PUNCT
emaj-348	343	23	s.	s.	PROPN
emaj-348	343	24	,	,	PUNCT
emaj-348	343	25	zaman	zaman	PROPN
emaj-348	343	26	,	,	PUNCT
emaj-348	343	27	k.	k.	PROPN
emaj-348	343	28	,	,	PUNCT
emaj-348	343	29	van	van	PROPN
emaj-348	343	30	tu	tu	PROPN
emaj-348	343	31	,	,	PUNCT
emaj-348	343	32	d.	d.	PROPN
emaj-348	343	33	and	and	CCONJ
emaj-348	343	34	anis	anis	PROPN
emaj-348	343	35	,	,	PUNCT
emaj-348	343	36	s.n.m	s.n.m	NOUN
emaj-348	343	37	.	.	PUNCT
emaj-348	344	1	(	(	PUNCT
emaj-348	344	2	2023	2023	NUM
emaj-348	344	3	)	)	PUNCT
emaj-348	344	4	‘	'	PUNCT
emaj-348	344	5	the	the	DET
emaj-348	344	6	role	role	NOUN
emaj-348	344	7	of	of	ADP
emaj-348	344	8	debt	debt	NOUN
emaj-348	344	9	financing	financing	NOUN
emaj-348	344	10	in	in	ADP
emaj-348	344	11	the	the	DET
emaj-348	344	12	relationship	relationship	NOUN
emaj-348	344	13	between	between	ADP
emaj-348	344	14	capital	capital	NOUN
emaj-348	344	15	structure	structure	NOUN
emaj-348	344	16	,	,	PUNCT
emaj-348	344	17	firm	firm	NOUN
emaj-348	344	18	’s	’s	PART
emaj-348	344	19	value	value	NOUN
emaj-348	344	20	,	,	PUNCT
emaj-348	344	21	and	and	CCONJ
emaj-348	344	22	macroeconomic	macroeconomic	ADJ
emaj-348	344	23	factors	factor	NOUN
emaj-348	344	24	:	:	PUNCT
emaj-348	344	25	to	to	PART
emaj-348	344	26	throw	throw	VERB
emaj-348	344	27	caution	caution	NOUN
emaj-348	344	28	to	to	ADP
emaj-348	344	29	the	the	DET
emaj-348	344	30	wind	wind	NOUN
emaj-348	344	31	’	'	PUNCT
emaj-348	344	32	,	,	PUNCT
emaj-348	344	33	quarterly	quarterly	ADJ
emaj-348	344	34	review	review	NOUN
emaj-348	344	35	of	of	ADP
emaj-348	344	36	economics	economic	NOUN
emaj-348	344	37	and	and	CCONJ
emaj-348	344	38	finance	finance	NOUN
emaj-348	344	39	,	,	PUNCT
emaj-348	344	40	87(november	87(november	NUM
emaj-348	344	41	)	)	PUNCT
emaj-348	344	42	,	,	PUNCT
emaj-348	344	43	212	212	NUM
emaj-348	344	44	–	–	PUNCT
emaj-348	344	45	223	223	NUM
emaj-348	344	46	.	.	PUNCT
emaj-348	345	1	https://doi.org/10.1016/j.qref.2020.11.001	https://doi.org/10.1016/j.qref.2020.11.001	PROPN
emaj-348	345	2	.	.	PROPN
emaj-348	346	1	saeed	saeed	PROPN
emaj-348	346	2	,	,	PUNCT
emaj-348	346	3	a.	a.	PROPN
emaj-348	346	4	,	,	PUNCT
emaj-348	346	5	riaz	riaz	PROPN
emaj-348	346	6	,	,	PUNCT
emaj-348	346	7	h.	h.	PROPN
emaj-348	346	8	,	,	PUNCT
emaj-348	346	9	liedong	liedong	PROPN
emaj-348	346	10	,	,	PUNCT
emaj-348	346	11	t.a	t.a	PROPN
emaj-348	346	12	.	.	PROPN
emaj-348	346	13	and	and	CCONJ
emaj-348	346	14	rajwani	rajwani	PROPN
emaj-348	346	15	,	,	PUNCT
emaj-348	346	16	t.	t.	NOUN
emaj-348	346	17	(	(	PUNCT
emaj-348	346	18	2022	2022	NUM
emaj-348	346	19	)	)	PUNCT
emaj-348	346	20	‘	'	PUNCT
emaj-348	346	21	the	the	DET
emaj-348	346	22	impact	impact	NOUN
emaj-348	346	23	of	of	ADP
emaj-348	346	24	tmt	tmt	PROPN
emaj-348	346	25	gender	gender	NOUN
emaj-348	346	26	diversity	diversity	NOUN
emaj-348	346	27	on	on	ADP
emaj-348	346	28	corporate	corporate	ADJ
emaj-348	346	29	environmental	environmental	ADJ
emaj-348	346	30	strategy	strategy	NOUN
emaj-348	346	31	in	in	ADP
emaj-348	346	32	emerging	emerge	VERB
emaj-348	346	33	economies	economy	NOUN
emaj-348	346	34	’	'	PUNCT
emaj-348	346	35	,	,	PUNCT
emaj-348	346	36	journal	journal	NOUN
emaj-348	346	37	of	of	ADP
emaj-348	346	38	business	business	NOUN
emaj-348	346	39	research	research	NOUN
emaj-348	346	40	,	,	PUNCT
emaj-348	346	41	141	141	NUM
emaj-348	346	42	,	,	PUNCT
emaj-348	346	43	536	536	NUM
emaj-348	346	44	-	-	SYM
emaj-348	346	45	551	551	NUM
emaj-348	346	46	.	.	PUNCT
emaj-348	347	1	https://doi.org/10.1016/j.jbusres	https://doi.org/10.1016/j.jbusre	NOUN
emaj-348	347	2	.	.	PUNCT
emaj-348	348	1	2021.11.057	2021.11.057	ADJ
emaj-348	348	2	.	.	PUNCT
emaj-348	349	1	sdiq	sdiq	PROPN
emaj-348	349	2	,	,	PUNCT
emaj-348	349	3	s.r	s.r	PROPN
emaj-348	349	4	.	.	PROPN
emaj-348	349	5	and	and	CCONJ
emaj-348	349	6	abdullah	abdullah	PROPN
emaj-348	349	7	,	,	PUNCT
emaj-348	349	8	h.a	h.a	PROPN
emaj-348	349	9	.	.	PROPN
emaj-348	349	10	(	(	PUNCT
emaj-348	349	11	2022	2022	NUM
emaj-348	349	12	)	)	PUNCT
emaj-348	349	13	‘	'	PUNCT
emaj-348	349	14	examining	examine	VERB
emaj-348	349	15	the	the	DET
emaj-348	349	16	effect	effect	NOUN
emaj-348	349	17	of	of	ADP
emaj-348	349	18	agency	agency	NOUN
emaj-348	349	19	cost	cost	NOUN
emaj-348	349	20	on	on	ADP
emaj-348	349	21	capital	capital	NOUN
emaj-348	349	22	structurefinancial	structurefinancial	ADJ
emaj-348	349	23	performance	performance	NOUN
emaj-348	349	24	nexus	nexus	NOUN
emaj-348	349	25	:	:	PUNCT
emaj-348	349	26	empirical	empirical	ADJ
emaj-348	349	27	evidence	evidence	NOUN
emaj-348	349	28	for	for	ADP
emaj-348	349	29	emerging	emerge	VERB
emaj-348	349	30	market	market	NOUN
emaj-348	349	31	’	'	PUNCT
emaj-348	349	32	,	,	PUNCT
emaj-348	349	33	cogent	cogent	NOUN
emaj-348	349	34	economics	economic	NOUN
emaj-348	349	35	and	and	CCONJ
emaj-348	349	36	finance	finance	NOUN
emaj-348	349	37	,	,	PUNCT
emaj-348	349	38	10(1	10(1	NUM
emaj-348	349	39	)	)	PUNCT
emaj-348	349	40	.	.	PUNCT
emaj-348	350	1	https://doi.org/10.1080/23322039.2022.214836	https://doi.org/10.1080/23322039.2022.214836	NOUN
emaj-348	351	1	4	4	X
emaj-348	351	2	.	.	X
emaj-348	351	3	wojewodzki	wojewodzki	NOUN
emaj-348	351	4	,	,	PUNCT
emaj-348	351	5	m.	m.	NOUN
emaj-348	351	6	,	,	PUNCT
emaj-348	351	7	boateng	boateng	PROPN
emaj-348	351	8	,	,	PUNCT
emaj-348	351	9	a.	a.	NOUN
emaj-348	351	10	and	and	CCONJ
emaj-348	351	11	brahma	brahma	NOUN
emaj-348	351	12	,	,	PUNCT
emaj-348	351	13	s.	s.	PROPN
emaj-348	351	14	(	(	PUNCT
emaj-348	351	15	2020	2020	NUM
emaj-348	351	16	)	)	PUNCT
emaj-348	351	17	‘	'	PUNCT
emaj-348	351	18	credit	credit	NOUN
emaj-348	351	19	rating	rating	NOUN
emaj-348	351	20	,	,	PUNCT
emaj-348	351	21	banks	bank	NOUN
emaj-348	351	22	’	'	PUNCT
emaj-348	351	23	capital	capital	NOUN
emaj-348	351	24	structure	structure	NOUN
emaj-348	351	25	and	and	CCONJ
emaj-348	351	26	speed	speed	NOUN
emaj-348	351	27	of	of	ADP
emaj-348	351	28	adjustment	adjustment	NOUN
emaj-348	351	29	:	:	PUNCT
emaj-348	351	30	a	a	DET
emaj-348	351	31	cross	cross	ADJ
emaj-348	351	32	-	-	ADJ
emaj-348	351	33	country	country	ADJ
emaj-348	351	34	analysis	analysis	NOUN
emaj-348	351	35	’	'	PUNCT
emaj-348	351	36	,	,	PUNCT
emaj-348	351	37	journal	journal	NOUN
emaj-348	351	38	of	of	ADP
emaj-348	351	39	international	international	ADJ
emaj-348	351	40	financial	financial	ADJ
emaj-348	351	41	markets	market	NOUN
emaj-348	351	42	,	,	PUNCT
emaj-348	351	43	institutions	institution	NOUN
emaj-348	351	44	and	and	CCONJ
emaj-348	351	45	money	money	NOUN
emaj-348	351	46	,	,	PUNCT
emaj-348	351	47	69	69	NUM
emaj-348	351	48	.	.	PUNCT
emaj-348	352	1	https://doi.org/10.1016/j.intfin.2020.101260	https://doi.org/10.1016/j.intfin.2020.101260	NOUN
emaj-348	352	2	.	.	PUNCT
emaj-348	353	1	yang	yang	PROPN
emaj-348	353	2	,	,	PUNCT
emaj-348	353	3	b.	b.	PROPN
emaj-348	353	4	and	and	CCONJ
emaj-348	353	5	gan	gan	PROPN
emaj-348	353	6	,	,	PUNCT
emaj-348	353	7	l.	l.	PROPN
emaj-348	353	8	(	(	PUNCT
emaj-348	353	9	2021	2021	NUM
emaj-348	353	10	)	)	PUNCT
emaj-348	353	11	‘	'	PUNCT
emaj-348	353	12	contingent	contingent	ADJ
emaj-348	353	13	capital	capital	NOUN
emaj-348	353	14	,	,	PUNCT
emaj-348	353	15	tobin	tobin	PROPN
emaj-348	353	16	’s	’s	PART
emaj-348	353	17	q	q	NOUN
emaj-348	353	18	and	and	CCONJ
emaj-348	353	19	corporate	corporate	ADJ
emaj-348	353	20	capital	capital	NOUN
emaj-348	353	21	structure	structure	NOUN
emaj-348	353	22	’	'	PUNCT
emaj-348	353	23	,	,	PUNCT
emaj-348	353	24	north	north	ADJ
emaj-348	353	25	american	american	ADJ
emaj-348	353	26	journal	journal	PROPN
emaj-348	353	27	of	of	ADP
emaj-348	353	28	economics	economic	NOUN
emaj-348	353	29	and	and	CCONJ
emaj-348	353	30	finance	finance	NOUN
emaj-348	353	31	,	,	PUNCT
emaj-348	353	32	55.https://doi.org/10.1016/j.najef.2020.101305	55.https://doi.org/10.1016/j.najef.2020.101305	NUM
emaj-348	353	33	.	.	PUNCT
emaj-348	354	1	zhang	zhang	PROPN
emaj-348	354	2	,	,	PUNCT
emaj-348	354	3	m.y	m.y	PROPN
emaj-348	354	4	.	.	PROPN
emaj-348	354	5	,	,	PUNCT
emaj-348	354	6	lin	lin	PROPN
emaj-348	354	7	,	,	PUNCT
emaj-348	354	8	l.w	l.w	PROPN
emaj-348	354	9	.	.	PROPN
emaj-348	354	10	,	,	PUNCT
emaj-348	354	11	chen	chen	PROPN
emaj-348	354	12	,	,	PUNCT
emaj-348	354	13	h.p	h.p	PROPN
emaj-348	354	14	.	.	PROPN
emaj-348	354	15	and	and	CCONJ
emaj-348	354	16	zhao	zhao	PROPN
emaj-348	354	17	,	,	PUNCT
emaj-348	354	18	x.z	x.z	PROPN
emaj-348	354	19	.	.	PROPN
emaj-348	354	20	(	(	PUNCT
emaj-348	354	21	2022	2022	NUM
emaj-348	354	22	)	)	PUNCT
emaj-348	354	23	‘	'	PUNCT
emaj-348	354	24	the	the	DET
emaj-348	354	25	impact	impact	NOUN
emaj-348	354	26	of	of	ADP
emaj-348	354	27	capital	capital	NOUN
emaj-348	354	28	structure	structure	NOUN
emaj-348	354	29	on	on	ADP
emaj-348	354	30	the	the	DET
emaj-348	354	31	performance	performance	NOUN
emaj-348	354	32	of	of	ADP
emaj-348	354	33	chinese	chinese	ADJ
emaj-348	354	34	e	e	PROPN
emaj-348	354	35	-	-	PROPN
emaj-348	354	36	commerce	commerce	NOUN
emaj-348	354	37	industry	industry	NOUN
emaj-348	354	38	companies	company	NOUN
emaj-348	354	39	(	(	PUNCT
emaj-348	354	40	2013	2013	NUM
emaj-348	354	41	-	-	SYM
emaj-348	354	42	2019	2019	NUM
emaj-348	354	43	panel	panel	NOUN
emaj-348	354	44	data	datum	NOUN
emaj-348	354	45	)	)	PUNCT
emaj-348	354	46	’	'	PUNCT
emaj-348	354	47	,	,	PUNCT
emaj-348	354	48	journal	journal	NOUN
emaj-348	354	49	of	of	ADP
emaj-348	354	50	mathematics	mathematic	NOUN
emaj-348	354	51	,	,	PUNCT
emaj-348	354	52	2022	2022	NUM
emaj-348	354	53	.	.	PUNCT
emaj-348	354	54	https://doi.org/10.1155/	https://doi.org/10.1155/	PROPN
emaj-348	354	55	2022/7612349	2022/7612349	NUM
emaj-348	354	56	.	.	PUNCT