id	sid	tid	token	lemma	pos
emaj-75	1	1	volume	volume	NOUN
emaj-75	1	2	5	5	NUM
emaj-75	1	3	no	no	DET
emaj-75	1	4	2	2	NUM
emaj-75	1	5	(	(	PUNCT
emaj-75	1	6	2015	2015	NUM
emaj-75	1	7	)	)	PUNCT
emaj-75	1	8	|	|	ADV
emaj-75	1	9	issn	issn	VERB
emaj-75	1	10	2158	2158	NUM
emaj-75	1	11	-	-	SYM
emaj-75	1	12	8708	8708	NUM
emaj-75	1	13	(	(	PUNCT
emaj-75	1	14	online	online	NOUN
emaj-75	1	15	)	)	PUNCT
emaj-75	1	16	|	|	ADV
emaj-75	1	17	doi	doi	X
emaj-75	1	18	10.5195	10.5195	NUM
emaj-75	1	19	/	/	SYM
emaj-75	1	20	emaj.2015.66	emaj.2015.66	NOUN
emaj-75	1	21	|	|	ADV
emaj-75	1	22	http://emaj.pitt.edu	http://emaj.pitt.edu	VERB
emaj-75	1	23	the	the	DET
emaj-75	1	24	relationship	relationship	NOUN
emaj-75	1	25	between	between	ADP
emaj-75	1	26	corporate	corporate	ADJ
emaj-75	1	27	performance	performance	NOUN
emaj-75	1	28	and	and	CCONJ
emaj-75	1	29	ownership	ownership	NOUN
emaj-75	1	30	structure	structure	NOUN
emaj-75	1	31	:	:	PUNCT
emaj-75	1	32	evidence	evidence	NOUN
emaj-75	1	33	from	from	ADP
emaj-75	1	34	turkey	turkey	PROPN
emaj-75	1	35	hicabi	hicabi	PROPN
emaj-75	1	36	ersoy	ersoy	PROPN
emaj-75	1	37	asst	asst	NOUN
emaj-75	1	38	.	.	PUNCT
emaj-75	2	1	prof	prof	PROPN
emaj-75	2	2	.	.	PUNCT
emaj-75	3	1	dr	dr	PROPN
emaj-75	3	2	.	.	PROPN
emaj-75	3	3	,	,	PUNCT
emaj-75	3	4	istanbul	istanbul	PROPN
emaj-75	3	5	commerce	commerce	PROPN
emaj-75	3	6	university	university	PROPN
emaj-75	3	7	,	,	PUNCT
emaj-75	3	8	department	department	NOUN
emaj-75	3	9	of	of	ADP
emaj-75	3	10	banking	banking	NOUN
emaj-75	3	11	and	and	CCONJ
emaj-75	3	12	finance	finance	NOUN
emaj-75	3	13	–	–	PUNCT
emaj-75	3	14	turkey	turkey	NOUN
emaj-75	3	15	,	,	PUNCT
emaj-75	3	16	hersoy@ticaret.edu.tr	hersoy@ticaret.edu.tr	PROPN
emaj-75	3	17	ayben	ayben	PROPN
emaj-75	3	18	koy	koy	VERB
emaj-75	3	19	research	research	NOUN
emaj-75	3	20	asst	asst	NOUN
emaj-75	3	21	.	.	PUNCT
emaj-75	4	1	,	,	PUNCT
emaj-75	4	2	istanbul	istanbul	PROPN
emaj-75	4	3	commerce	commerce	PROPN
emaj-75	4	4	university	university	PROPN
emaj-75	4	5	,	,	PUNCT
emaj-75	4	6	department	department	NOUN
emaj-75	4	7	of	of	ADP
emaj-75	4	8	banking	banking	NOUN
emaj-75	4	9	and	and	CCONJ
emaj-75	4	10	finance	finance	NOUN
emaj-75	4	11	–	–	PUNCT
emaj-75	4	12	turkey	turkey	NOUN
emaj-75	4	13	,	,	PUNCT
emaj-75	4	14	akoy@ticaret.edu.tr	akoy@ticaret.edu.tr	PROPN
emaj-75	4	15	abstract	abstract	ADV
emaj-75	4	16	this	this	DET
emaj-75	4	17	study	study	NOUN
emaj-75	4	18	investigates	investigate	VERB
emaj-75	4	19	the	the	DET
emaj-75	4	20	effects	effect	NOUN
emaj-75	4	21	of	of	ADP
emaj-75	4	22	ownership	ownership	NOUN
emaj-75	4	23	structure	structure	NOUN
emaj-75	4	24	on	on	ADP
emaj-75	4	25	the	the	DET
emaj-75	4	26	performance	performance	NOUN
emaj-75	4	27	of	of	ADP
emaj-75	4	28	the	the	DET
emaj-75	4	29	listed	list	VERB
emaj-75	4	30	companies	company	NOUN
emaj-75	4	31	in	in	ADP
emaj-75	4	32	borsa	borsa	PROPN
emaj-75	4	33	istanbul	istanbul	PROPN
emaj-75	4	34	stock	stock	PROPN
emaj-75	4	35	exchange	exchange	PROPN
emaj-75	4	36	30	30	NUM
emaj-75	4	37	firms	firm	NOUN
emaj-75	4	38	(	(	PUNCT
emaj-75	4	39	bist	bist	NOUN
emaj-75	4	40	30	30	NUM
emaj-75	4	41	)	)	PUNCT
emaj-75	4	42	.	.	PUNCT
emaj-75	5	1	the	the	DET
emaj-75	5	2	main	main	ADJ
emaj-75	5	3	hypothesis	hypothesis	NOUN
emaj-75	5	4	of	of	ADP
emaj-75	5	5	our	our	PRON
emaj-75	5	6	study	study	NOUN
emaj-75	5	7	is	be	AUX
emaj-75	5	8	that	that	SCONJ
emaj-75	5	9	there	there	PRON
emaj-75	5	10	is	be	VERB
emaj-75	5	11	a	a	DET
emaj-75	5	12	significant	significant	ADJ
emaj-75	5	13	relationship	relationship	NOUN
emaj-75	5	14	between	between	ADP
emaj-75	5	15	companies	company	NOUN
emaj-75	5	16	'	'	PART
emaj-75	5	17	performances	performance	NOUN
emaj-75	5	18	and	and	CCONJ
emaj-75	5	19	their	their	PRON
emaj-75	5	20	ownership	ownership	NOUN
emaj-75	5	21	structures	structure	NOUN
emaj-75	5	22	.	.	PUNCT
emaj-75	6	1	the	the	DET
emaj-75	6	2	statistical	statistical	ADJ
emaj-75	6	3	population	population	NOUN
emaj-75	6	4	includes	include	VERB
emaj-75	6	5	19	19	NUM
emaj-75	6	6	non	non	ADJ
emaj-75	6	7	-	-	ADJ
emaj-75	6	8	financial	financial	ADJ
emaj-75	6	9	companies	company	NOUN
emaj-75	6	10	in	in	ADP
emaj-75	6	11	the	the	DET
emaj-75	6	12	period	period	NOUN
emaj-75	6	13	of	of	ADP
emaj-75	6	14	years	year	NOUN
emaj-75	6	15	between	between	ADP
emaj-75	6	16	2008	2008	NUM
emaj-75	6	17	and	and	CCONJ
emaj-75	6	18	2013	2013	NUM
emaj-75	6	19	.	.	PUNCT
emaj-75	7	1	the	the	DET
emaj-75	7	2	results	result	NOUN
emaj-75	7	3	show	show	VERB
emaj-75	7	4	that	that	SCONJ
emaj-75	7	5	,	,	PUNCT
emaj-75	7	6	the	the	DET
emaj-75	7	7	concentration	concentration	NOUN
emaj-75	7	8	of	of	ADP
emaj-75	7	9	the	the	DET
emaj-75	7	10	large	large	ADJ
emaj-75	7	11	shares	share	NOUN
emaj-75	7	12	of	of	ADP
emaj-75	7	13	companies	company	NOUN
emaj-75	7	14	one	one	NUM
emaj-75	7	15	or	or	CCONJ
emaj-75	7	16	a	a	DET
emaj-75	7	17	few	few	ADJ
emaj-75	7	18	shareholders	shareholder	NOUN
emaj-75	7	19	has	have	VERB
emaj-75	7	20	a	a	DET
emaj-75	7	21	negative	negative	ADJ
emaj-75	7	22	effect	effect	NOUN
emaj-75	7	23	on	on	ADP
emaj-75	7	24	related	related	ADJ
emaj-75	7	25	firm	firm	NOUN
emaj-75	7	26	’s	’s	PART
emaj-75	7	27	performance	performance	NOUN
emaj-75	7	28	.	.	PUNCT
emaj-75	8	1	keywords	keyword	NOUN
emaj-75	8	2	:	:	PUNCT
emaj-75	8	3	ownership	ownership	NOUN
emaj-75	8	4	structure	structure	NOUN
emaj-75	8	5	,	,	PUNCT
emaj-75	8	6	corporate	corporate	ADJ
emaj-75	8	7	performance	performance	NOUN
emaj-75	8	8	,	,	PUNCT
emaj-75	8	9	borsa	borsa	PROPN
emaj-75	8	10	istanbul	istanbul	PROPN
emaj-75	8	11	stock	stock	PROPN
emaj-75	8	12	exchange	exchange	PROPN
emaj-75	8	13	30	30	NUM
emaj-75	8	14	(	(	PUNCT
emaj-75	8	15	bist	bist	NOUN
emaj-75	8	16	30	30	NUM
emaj-75	8	17	)	)	PUNCT
emaj-75	8	18	,	,	PUNCT
emaj-75	8	19	panel	panel	NOUN
emaj-75	8	20	data	data	VERB
emaj-75	8	21	analysis	analysis	NOUN
emaj-75	8	22	.	.	PUNCT
emaj-75	9	1	new	new	ADJ
emaj-75	9	2	articles	article	NOUN
emaj-75	9	3	in	in	ADP
emaj-75	9	4	this	this	DET
emaj-75	9	5	journal	journal	NOUN
emaj-75	9	6	are	be	AUX
emaj-75	9	7	licensed	license	VERB
emaj-75	9	8	under	under	ADP
emaj-75	9	9	a	a	DET
emaj-75	9	10	creative	creative	ADJ
emaj-75	9	11	commons	common	NOUN
emaj-75	9	12	attribution	attribution	NOUN
emaj-75	9	13	3.0	3.0	NUM
emaj-75	9	14	united	unite	VERB
emaj-75	9	15	states	states	PROPN
emaj-75	9	16	license	license	NOUN
emaj-75	9	17	.	.	PUNCT
emaj-75	10	1	this	this	DET
emaj-75	10	2	journal	journal	NOUN
emaj-75	10	3	is	be	AUX
emaj-75	10	4	published	publish	VERB
emaj-75	10	5	by	by	ADP
emaj-75	10	6	the	the	DET
emaj-75	10	7	university	university	NOUN
emaj-75	10	8	library	library	NOUN
emaj-75	10	9	system	system	NOUN
emaj-75	10	10	of	of	ADP
emaj-75	10	11	the	the	DET
emaj-75	10	12	university	university	PROPN
emaj-75	10	13	of	of	ADP
emaj-75	10	14	pittsburgh	pittsburgh	PROPN
emaj-75	10	15	as	as	ADP
emaj-75	10	16	part	part	NOUN
emaj-75	10	17	of	of	ADP
emaj-75	10	18	its	its	PRON
emaj-75	10	19	d	d	NOUN
emaj-75	10	20	-	-	PUNCT
emaj-75	10	21	scribe	scribe	VERB
emaj-75	10	22	digital	digital	ADJ
emaj-75	10	23	publishing	publishing	NOUN
emaj-75	10	24	program	program	NOUN
emaj-75	10	25	,	,	PUNCT
emaj-75	10	26	and	and	CCONJ
emaj-75	10	27	is	be	AUX
emaj-75	10	28	cosponsored	cosponsor	VERB
emaj-75	10	29	by	by	ADP
emaj-75	10	30	the	the	DET
emaj-75	10	31	university	university	PROPN
emaj-75	10	32	of	of	ADP
emaj-75	10	33	pittsburgh	pittsburgh	PROPN
emaj-75	10	34	press	press	NOUN
emaj-75	10	35	.	.	PUNCT
emaj-75	11	1	volume	volume	NOUN
emaj-75	11	2	5	5	NUM
emaj-75	11	3	no	no	DET
emaj-75	11	4	2	2	NUM
emaj-75	11	5	(	(	PUNCT
emaj-75	11	6	2015	2015	NUM
emaj-75	11	7	)	)	PUNCT
emaj-75	11	8	|	|	ADV
emaj-75	11	9	issn	issn	VERB
emaj-75	11	10	2158	2158	NUM
emaj-75	11	11	-	-	SYM
emaj-75	11	12	8708	8708	NUM
emaj-75	11	13	(	(	PUNCT
emaj-75	11	14	online	online	NOUN
emaj-75	11	15	)	)	PUNCT
emaj-75	11	16	|	|	ADV
emaj-75	11	17	doi	doi	X
emaj-75	11	18	10.5195	10.5195	NUM
emaj-75	11	19	/	/	SYM
emaj-75	11	20	emaj.2015.75	emaj.2015.75	NOUN
emaj-75	12	1	|	|	ADV
emaj-75	12	2	http://emaj.pitt.edu	http://emaj.pitt.edu	VERB
emaj-75	12	3	|	|	ADV
emaj-75	12	4	http://www.library.pitt.edu/	http://www.library.pitt.edu/	PROPN
emaj-75	12	5	http://www.pitt.edu/	http://www.pitt.edu/	NOUN
emaj-75	12	6	http://www.library.pitt.edu/articles/digpubtype/index.html	http://www.library.pitt.edu/articles/digpubtype/index.html	X
emaj-75	13	1	http://www.upress.pitt.edu/upressindex.aspx	http://www.upress.pitt.edu/upressindex.aspx	NUM
emaj-75	13	2	http://creativecommons.org/licenses/by/3.0/us/	http://creativecommons.org/licenses/by/3.0/us/	NOUN
emaj-75	13	3	volume	volume	NOUN
emaj-75	13	4	5	5	NUM
emaj-75	13	5	no	no	DET
emaj-75	13	6	2	2	NUM
emaj-75	13	7	(	(	PUNCT
emaj-75	13	8	2015	2015	NUM
emaj-75	13	9	)	)	PUNCT
emaj-75	13	10	|	|	ADV
emaj-75	13	11	issn	issn	VERB
emaj-75	13	12	2158	2158	NUM
emaj-75	13	13	-	-	SYM
emaj-75	13	14	8708	8708	NUM
emaj-75	13	15	(	(	PUNCT
emaj-75	13	16	online	online	NOUN
emaj-75	13	17	)	)	PUNCT
emaj-75	13	18	|	|	ADV
emaj-75	13	19	doi	doi	X
emaj-75	13	20	10.5195	10.5195	NUM
emaj-75	13	21	/	/	SYM
emaj-75	13	22	emaj.2015.75	emaj.2015.75	NOUN
emaj-75	14	1	|	|	NOUN
emaj-75	14	2	http://emaj.pitt.edu	http://emaj.pitt.edu	PROPN
emaj-75	14	3	hicabi	hicabi	NOUN
emaj-75	14	4	ersoy	ersoy	NOUN
emaj-75	14	5	,	,	PUNCT
emaj-75	14	6	ayben	ayben	PROPN
emaj-75	14	7	koy	koy	VERB
emaj-75	14	8	emerging	emerge	VERB
emaj-75	14	9	markets	market	NOUN
emaj-75	14	10	journal	journal	NOUN
emaj-75	15	1	|	|	ADV
emaj-75	15	2	p	p	NOUN
emaj-75	15	3	a	a	DET
emaj-75	15	4	g	g	PROPN
emaj-75	15	5	e	e	X
emaj-75	15	6	|9	|9	X
emaj-75	15	7	the	the	DET
emaj-75	15	8	relationship	relationship	NOUN
emaj-75	15	9	between	between	ADP
emaj-75	15	10	corporate	corporate	ADJ
emaj-75	15	11	performance	performance	NOUN
emaj-75	15	12	and	and	CCONJ
emaj-75	15	13	ownership	ownership	NOUN
emaj-75	15	14	structure	structure	NOUN
emaj-75	15	15	:	:	PUNCT
emaj-75	15	16	evidence	evidence	NOUN
emaj-75	15	17	from	from	ADP
emaj-75	15	18	turkey	turkey	PROPN
emaj-75	15	19	hicabi	hicabi	NOUN
emaj-75	15	20	ersoy	ersoy	NOUN
emaj-75	15	21	ayben	ayben	PROPN
emaj-75	15	22	koy	koy	PROPN
emaj-75	15	23	i.	i.	PROPN
emaj-75	15	24	introduction	introduction	NOUN
emaj-75	15	25	in	in	ADP
emaj-75	15	26	finance	finance	NOUN
emaj-75	15	27	literature	literature	NOUN
emaj-75	15	28	,	,	PUNCT
emaj-75	15	29	it	it	PRON
emaj-75	15	30	is	be	AUX
emaj-75	15	31	known	know	VERB
emaj-75	15	32	that	that	SCONJ
emaj-75	15	33	there	there	PRON
emaj-75	15	34	are	be	VERB
emaj-75	15	35	argues	argue	NOUN
emaj-75	15	36	that	that	SCONJ
emaj-75	15	37	there	there	PRON
emaj-75	15	38	is	be	VERB
emaj-75	15	39	a	a	DET
emaj-75	15	40	relationship	relationship	NOUN
emaj-75	15	41	between	between	ADP
emaj-75	15	42	corporate	corporate	ADJ
emaj-75	15	43	performance	performance	NOUN
emaj-75	15	44	and	and	CCONJ
emaj-75	15	45	ownership	ownership	NOUN
emaj-75	15	46	structure	structure	NOUN
emaj-75	15	47	of	of	ADP
emaj-75	15	48	the	the	DET
emaj-75	15	49	firms	firm	NOUN
emaj-75	15	50	,	,	PUNCT
emaj-75	15	51	however	however	ADV
emaj-75	15	52	institutional	institutional	ADJ
emaj-75	15	53	and	and	CCONJ
emaj-75	15	54	economic	economic	ADJ
emaj-75	15	55	influences	influence	NOUN
emaj-75	15	56	differ	differ	VERB
emaj-75	15	57	from	from	ADP
emaj-75	15	58	both	both	CCONJ
emaj-75	15	59	nationwide	nationwide	ADJ
emaj-75	15	60	and	and	CCONJ
emaj-75	15	61	internationally	internationally	ADV
emaj-75	15	62	.	.	PUNCT
emaj-75	16	1	the	the	DET
emaj-75	16	2	major	major	ADJ
emaj-75	16	3	objective	objective	NOUN
emaj-75	16	4	of	of	ADP
emaj-75	16	5	this	this	DET
emaj-75	16	6	study	study	NOUN
emaj-75	16	7	is	be	AUX
emaj-75	16	8	to	to	PART
emaj-75	16	9	provide	provide	VERB
emaj-75	16	10	an	an	DET
emaj-75	16	11	empirical	empirical	ADJ
emaj-75	16	12	evidence	evidence	NOUN
emaj-75	16	13	to	to	PART
emaj-75	16	14	respond	respond	VERB
emaj-75	16	15	to	to	ADP
emaj-75	16	16	the	the	DET
emaj-75	16	17	argument	argument	NOUN
emaj-75	16	18	that	that	SCONJ
emaj-75	16	19	,	,	PUNCT
emaj-75	16	20	ownership	ownership	NOUN
emaj-75	16	21	structures	structure	NOUN
emaj-75	16	22	differ	differ	VERB
emaj-75	16	23	according	accord	VERB
emaj-75	16	24	to	to	ADP
emaj-75	16	25	companies	company	NOUN
emaj-75	16	26	’	'	PUNCT
emaj-75	16	27	financial	financial	ADJ
emaj-75	16	28	performances	performance	NOUN
emaj-75	16	29	.	.	PUNCT
emaj-75	17	1	there	there	PRON
emaj-75	17	2	are	be	VERB
emaj-75	17	3	generally	generally	ADV
emaj-75	17	4	two	two	NUM
emaj-75	17	5	basic	basic	ADJ
emaj-75	17	6	types	type	NOUN
emaj-75	17	7	of	of	ADP
emaj-75	17	8	ownership	ownership	NOUN
emaj-75	17	9	structure	structure	NOUN
emaj-75	17	10	in	in	ADP
emaj-75	17	11	turkish	turkish	ADJ
emaj-75	17	12	economic	economic	ADJ
emaj-75	17	13	environment	environment	NOUN
emaj-75	17	14	,	,	PUNCT
emaj-75	17	15	private	private	ADJ
emaj-75	17	16	and	and	CCONJ
emaj-75	17	17	publicly	publicly	ADV
emaj-75	17	18	ownership	ownership	NOUN
emaj-75	17	19	.	.	PUNCT
emaj-75	18	1	when	when	SCONJ
emaj-75	18	2	looking	look	VERB
emaj-75	18	3	private	private	ADJ
emaj-75	18	4	sector	sector	NOUN
emaj-75	18	5	,	,	PUNCT
emaj-75	18	6	there	there	PRON
emaj-75	18	7	is	be	VERB
emaj-75	18	8	a	a	DET
emaj-75	18	9	tendency	tendency	NOUN
emaj-75	18	10	to	to	ADP
emaj-75	18	11	foreign	foreign	ADJ
emaj-75	18	12	weighted	weight	VERB
emaj-75	18	13	ownership	ownership	NOUN
emaj-75	18	14	structure	structure	NOUN
emaj-75	18	15	from	from	ADP
emaj-75	18	16	domestic	domestic	ADJ
emaj-75	18	17	one	one	NUM
emaj-75	18	18	in	in	ADP
emaj-75	18	19	the	the	DET
emaj-75	18	20	last	last	ADJ
emaj-75	18	21	decade	decade	NOUN
emaj-75	18	22	.	.	PUNCT
emaj-75	19	1	in	in	ADP
emaj-75	19	2	this	this	DET
emaj-75	19	3	study	study	NOUN
emaj-75	19	4	,	,	PUNCT
emaj-75	19	5	we	we	PRON
emaj-75	19	6	have	have	AUX
emaj-75	19	7	taken	take	VERB
emaj-75	19	8	into	into	ADP
emaj-75	19	9	account	account	NOUN
emaj-75	19	10	the	the	DET
emaj-75	19	11	concentration	concentration	NOUN
emaj-75	19	12	of	of	ADP
emaj-75	19	13	the	the	DET
emaj-75	19	14	shares	share	NOUN
emaj-75	19	15	in	in	ADP
emaj-75	19	16	one	one	NUM
emaj-75	19	17	hand	hand	NOUN
emaj-75	19	18	or	or	CCONJ
emaj-75	19	19	a	a	DET
emaj-75	19	20	group	group	NOUN
emaj-75	19	21	.	.	PUNCT
emaj-75	20	1	in	in	ADP
emaj-75	20	2	other	other	ADJ
emaj-75	20	3	words	word	NOUN
emaj-75	20	4	,	,	PUNCT
emaj-75	20	5	the	the	DET
emaj-75	20	6	performance	performance	NOUN
emaj-75	20	7	differences	difference	NOUN
emaj-75	20	8	between	between	ADP
emaj-75	20	9	sub	sub	NOUN
emaj-75	20	10	samples	sample	NOUN
emaj-75	20	11	such	such	ADJ
emaj-75	20	12	as	as	ADP
emaj-75	20	13	private	private	ADJ
emaj-75	20	14	and	and	CCONJ
emaj-75	20	15	public	public	ADJ
emaj-75	20	16	or	or	CCONJ
emaj-75	20	17	domestic	domestic	ADJ
emaj-75	20	18	and	and	CCONJ
emaj-75	20	19	foreign	foreign	ADJ
emaj-75	20	20	owner	owner	NOUN
emaj-75	20	21	/	/	SYM
emaj-75	20	22	s	s	PROPN
emaj-75	20	23	,	,	PUNCT
emaj-75	20	24	and	and	CCONJ
emaj-75	20	25	etc	etc	X
emaj-75	20	26	.	.	X
emaj-75	20	27	weighted	weight	VERB
emaj-75	20	28	firms	firm	NOUN
emaj-75	20	29	are	be	AUX
emaj-75	20	30	not	not	PART
emaj-75	20	31	tested	test	VERB
emaj-75	20	32	separately	separately	ADV
emaj-75	20	33	,	,	PUNCT
emaj-75	20	34	because	because	SCONJ
emaj-75	20	35	it	it	PRON
emaj-75	20	36	is	be	AUX
emaj-75	20	37	subject	subject	ADJ
emaj-75	20	38	to	to	ADP
emaj-75	20	39	another	another	DET
emaj-75	20	40	research	research	NOUN
emaj-75	20	41	in	in	ADP
emaj-75	20	42	the	the	DET
emaj-75	20	43	literature	literature	NOUN
emaj-75	20	44	.	.	PUNCT
emaj-75	21	1	the	the	DET
emaj-75	21	2	structure	structure	NOUN
emaj-75	21	3	of	of	ADP
emaj-75	21	4	the	the	DET
emaj-75	21	5	paper	paper	NOUN
emaj-75	21	6	is	be	AUX
emaj-75	21	7	as	as	SCONJ
emaj-75	21	8	follows	follow	VERB
emaj-75	21	9	:	:	PUNCT
emaj-75	21	10	after	after	ADP
emaj-75	21	11	the	the	DET
emaj-75	21	12	introduction	introduction	NOUN
emaj-75	21	13	,	,	PUNCT
emaj-75	21	14	section	section	NOUN
emaj-75	21	15	2	2	NUM
emaj-75	21	16	is	be	AUX
emaj-75	21	17	about	about	ADJ
emaj-75	21	18	to	to	PART
emaj-75	21	19	explain	explain	VERB
emaj-75	21	20	theoretical	theoretical	ADJ
emaj-75	21	21	foundation	foundation	NOUN
emaj-75	21	22	and	and	CCONJ
emaj-75	21	23	reviews	review	VERB
emaj-75	21	24	the	the	DET
emaj-75	21	25	ownership	ownership	NOUN
emaj-75	21	26	structures	structure	NOUN
emaj-75	21	27	and	and	CCONJ
emaj-75	21	28	their	their	PRON
emaj-75	21	29	significance	significance	NOUN
emaj-75	21	30	in	in	ADP
emaj-75	21	31	the	the	DET
emaj-75	21	32	corporate	corporate	ADJ
emaj-75	21	33	governance	governance	NOUN
emaj-75	21	34	.	.	PUNCT
emaj-75	22	1	section	section	NOUN
emaj-75	22	2	3	3	NUM
emaj-75	22	3	presents	present	VERB
emaj-75	22	4	the	the	DET
emaj-75	22	5	research	research	NOUN
emaj-75	22	6	method	method	NOUN
emaj-75	22	7	,	,	PUNCT
emaj-75	22	8	including	include	VERB
emaj-75	22	9	hypotheses	hypothesis	NOUN
emaj-75	22	10	,	,	PUNCT
emaj-75	22	11	research	research	NOUN
emaj-75	22	12	variables	variable	NOUN
emaj-75	22	13	,	,	PUNCT
emaj-75	22	14	model	model	NOUN
emaj-75	22	15	buildings	building	NOUN
emaj-75	22	16	,	,	PUNCT
emaj-75	22	17	population	population	NOUN
emaj-75	22	18	and	and	CCONJ
emaj-75	22	19	sample	sample	NOUN
emaj-75	22	20	selection	selection	NOUN
emaj-75	22	21	,	,	PUNCT
emaj-75	22	22	data	datum	NOUN
emaj-75	22	23	collection	collection	NOUN
emaj-75	22	24	method	method	NOUN
emaj-75	22	25	,	,	PUNCT
emaj-75	22	26	and	and	CCONJ
emaj-75	22	27	statistical	statistical	ADJ
emaj-75	22	28	test	test	NOUN
emaj-75	22	29	.	.	PUNCT
emaj-75	23	1	the	the	DET
emaj-75	23	2	findings	finding	NOUN
emaj-75	23	3	of	of	ADP
emaj-75	23	4	the	the	DET
emaj-75	23	5	study	study	NOUN
emaj-75	23	6	and	and	CCONJ
emaj-75	23	7	hypotheses	hypothesis	NOUN
emaj-75	23	8	and	and	CCONJ
emaj-75	23	9	discussion	discussion	NOUN
emaj-75	23	10	of	of	ADP
emaj-75	23	11	the	the	DET
emaj-75	23	12	article	article	NOUN
emaj-75	23	13	is	be	AUX
emaj-75	23	14	reported	report	VERB
emaj-75	23	15	in	in	ADP
emaj-75	23	16	section	section	NOUN
emaj-75	23	17	4	4	NUM
emaj-75	23	18	.	.	PUNCT
emaj-75	24	1	finally	finally	ADV
emaj-75	24	2	,	,	PUNCT
emaj-75	24	3	5th	5th	ADJ
emaj-75	24	4	section	section	NOUN
emaj-75	24	5	has	have	AUX
emaj-75	24	6	concluding	conclude	VERB
emaj-75	24	7	remarks	remark	NOUN
emaj-75	24	8	of	of	ADP
emaj-75	24	9	the	the	DET
emaj-75	24	10	study	study	NOUN
emaj-75	24	11	.	.	PUNCT
emaj-75	25	1	ii	ii	PROPN
emaj-75	25	2	.	.	PUNCT
emaj-75	26	1	literature	literature	PROPN
emaj-75	26	2	review	review	PROPN
emaj-75	26	3	according	accord	VERB
emaj-75	26	4	to	to	ADP
emaj-75	26	5	craswell	craswell	NOUN
emaj-75	26	6	at	at	ADP
emaj-75	26	7	al	al	PROPN
emaj-75	26	8	.	.	PUNCT
emaj-75	26	9	(	(	PUNCT
emaj-75	26	10	1997	1997	NUM
emaj-75	26	11	)	)	PUNCT
emaj-75	26	12	,	,	PUNCT
emaj-75	26	13	the	the	DET
emaj-75	26	14	impact	impact	NOUN
emaj-75	26	15	of	of	ADP
emaj-75	26	16	the	the	DET
emaj-75	26	17	ownership	ownership	NOUN
emaj-75	26	18	structure	structure	NOUN
emaj-75	26	19	on	on	ADP
emaj-75	26	20	corporate	corporate	ADJ
emaj-75	26	21	performance	performance	NOUN
emaj-75	26	22	occurs	occur	VERB
emaj-75	26	23	in	in	ADP
emaj-75	26	24	at	at	ADV
emaj-75	26	25	least	least	ADV
emaj-75	26	26	three	three	NUM
emaj-75	26	27	ways	way	NOUN
emaj-75	26	28	.	.	PUNCT
emaj-75	27	1	first	first	ADV
emaj-75	27	2	,	,	PUNCT
emaj-75	27	3	there	there	PRON
emaj-75	27	4	are	be	VERB
emaj-75	27	5	studies	study	NOUN
emaj-75	27	6	which	which	PRON
emaj-75	27	7	test	test	VERB
emaj-75	27	8	for	for	ADP
emaj-75	27	9	ex	ex	ADJ
emaj-75	27	10	post	post	NOUN
emaj-75	27	11	performance	performance	NOUN
emaj-75	27	12	effects	effect	NOUN
emaj-75	27	13	.	.	PUNCT
emaj-75	28	1	demsetz	demsetz	VERB
emaj-75	28	2	and	and	CCONJ
emaj-75	28	3	lehn	lehn	NOUN
emaj-75	28	4	(	(	PUNCT
emaj-75	28	5	1985	1985	NUM
emaj-75	28	6	)	)	PUNCT
emaj-75	28	7	do	do	AUX
emaj-75	28	8	not	not	PART
emaj-75	28	9	find	find	VERB
emaj-75	28	10	evidence	evidence	NOUN
emaj-75	28	11	of	of	ADP
emaj-75	28	12	a	a	DET
emaj-75	28	13	linear	linear	ADJ
emaj-75	28	14	relationship	relationship	NOUN
emaj-75	28	15	between	between	ADP
emaj-75	28	16	three	three	NUM
emaj-75	28	17	measures	measure	NOUN
emaj-75	28	18	of	of	ADP
emaj-75	28	19	ownership	ownership	NOUN
emaj-75	28	20	concentration	concentration	NOUN
emaj-75	28	21	and	and	CCONJ
emaj-75	28	22	measures	measure	NOUN
emaj-75	28	23	of	of	ADP
emaj-75	28	24	profitability.1morck	profitability.1morck	PROPN
emaj-75	28	25	et	et	NOUN
emaj-75	28	26	al	al	PROPN
emaj-75	28	27	.	.	PUNCT
emaj-75	29	1	(	(	PUNCT
emaj-75	29	2	1988	1988	NUM
emaj-75	29	3	)	)	PUNCT
emaj-75	29	4	also	also	ADV
emaj-75	29	5	point	point	VERB
emaj-75	29	6	to	to	PART
emaj-75	29	7	demsetz	demsetz	VERB
emaj-75	29	8	and	and	CCONJ
emaj-75	29	9	lehn	lehn	PROPN
emaj-75	29	10	’s	’s	PART
emaj-75	29	11	failure	failure	NOUN
emaj-75	29	12	to	to	PART
emaj-75	29	13	distinguish	distinguish	VERB
emaj-75	29	14	between	between	ADP
emaj-75	29	15	the	the	DET
emaj-75	29	16	holdings	holding	NOUN
emaj-75	29	17	of	of	ADP
emaj-75	29	18	board	board	NOUN
emaj-75	29	19	members	member	NOUN
emaj-75	29	20	and	and	CCONJ
emaj-75	29	21	those	those	PRON
emaj-75	29	22	of	of	ADP
emaj-75	29	23	other	other	ADJ
emaj-75	29	24	large	large	ADJ
emaj-75	29	25	stockholders	stockholder	NOUN
emaj-75	29	26	.	.	PUNCT
emaj-75	30	1	second	second	ADJ
emaj-75	30	2	,	,	PUNCT
emaj-75	30	3	there	there	PRON
emaj-75	30	4	are	be	VERB
emaj-75	30	5	studies	study	NOUN
emaj-75	30	6	that	that	PRON
emaj-75	30	7	relate	relate	VERB
emaj-75	30	8	ownership	ownership	NOUN
emaj-75	30	9	structure	structure	NOUN
emaj-75	30	10	to	to	ADP
emaj-75	30	11	actions	action	NOUN
emaj-75	30	12	or	or	CCONJ
emaj-75	30	13	events	event	NOUN
emaj-75	30	14	which	which	PRON
emaj-75	30	15	are	be	AUX
emaj-75	30	16	believed	believe	VERB
emaj-75	30	17	to	to	PART
emaj-75	30	18	affect	affect	VERB
emaj-75	30	19	future	future	ADJ
emaj-75	30	20	corporate	corporate	ADJ
emaj-75	30	21	performance	performance	NOUN
emaj-75	30	22	,	,	PUNCT
emaj-75	30	23	typically	typically	ADV
emaj-75	30	24	evidenced	evidence	VERB
emaj-75	30	25	by	by	ADP
emaj-75	30	26	share	share	NOUN
emaj-75	30	27	price	price	NOUN
emaj-75	30	28	changes	change	NOUN
emaj-75	30	29	associated	associate	VERB
emaj-75	30	30	with	with	ADP
emaj-75	30	31	the	the	DET
emaj-75	30	32	event	event	NOUN
emaj-75	30	33	in	in	ADP
emaj-75	30	34	question	question	NOUN
emaj-75	30	35	.	.	PUNCT
emaj-75	31	1	however	however	ADV
emaj-75	31	2	,	,	PUNCT
emaj-75	31	3	given	give	VERB
emaj-75	31	4	the	the	DET
emaj-75	31	5	differing	differ	VERB
emaj-75	31	6	context	context	NOUN
emaj-75	31	7	in	in	ADP
emaj-75	31	8	which	which	PRON
emaj-75	31	9	these	these	DET
emaj-75	31	10	studies	study	NOUN
emaj-75	31	11	occur	occur	VERB
emaj-75	31	12	,	,	PUNCT
emaj-75	31	13	it	it	PRON
emaj-75	31	14	is	be	AUX
emaj-75	31	15	difficult	difficult	ADJ
emaj-75	31	16	to	to	PART
emaj-75	31	17	generalize	generalize	VERB
emaj-75	31	18	about	about	ADP
emaj-75	31	19	the	the	DET
emaj-75	31	20	probable	probable	ADJ
emaj-75	31	21	influence	influence	NOUN
emaj-75	31	22	of	of	ADP
emaj-75	31	23	ownership	ownership	NOUN
emaj-75	31	24	structure	structure	NOUN
emaj-75	31	25	on	on	ADP
emaj-75	31	26	corporate	corporate	ADJ
emaj-75	31	27	performance	performance	NOUN
emaj-75	31	28	.	.	PUNCT
emaj-75	32	1	third	third	ADV
emaj-75	32	2	,	,	PUNCT
emaj-75	32	3	there	there	PRON
emaj-75	32	4	are	be	VERB
emaj-75	32	5	the	the	DET
emaj-75	32	6	studies	study	NOUN
emaj-75	32	7	which	which	PRON
emaj-75	32	8	examine	examine	VERB
emaj-75	32	9	the	the	DET
emaj-75	32	10	ex	ex	NOUN
emaj-75	32	11	-	-	NOUN
emaj-75	32	12	ante	ante	NOUN
emaj-75	32	13	impact	impact	NOUN
emaj-75	32	14	of	of	ADP
emaj-75	32	15	ownership	ownership	NOUN
emaj-75	32	16	structure	structure	NOUN
emaj-75	32	17	as	as	SCONJ
emaj-75	32	18	captured	capture	VERB
emaj-75	32	19	in	in	ADP
emaj-75	32	20	firms	firm	NOUN
emaj-75	32	21	’	’	PART
emaj-75	32	22	market	market	NOUN
emaj-75	32	23	value	value	NOUN
emaj-75	32	24	.	.	PUNCT
emaj-75	33	1	in	in	ADP
emaj-75	33	2	contrast	contrast	NOUN
emaj-75	33	3	to	to	AUX
emaj-75	33	4	demsetz	demsetz	VERB
emaj-75	33	5	and	and	CCONJ
emaj-75	33	6	lehn	lehn	PROPN
emaj-75	33	7	’s	’s	PART
emaj-75	33	8	focus	focus	NOUN
emaj-75	33	9	on	on	ADP
emaj-75	33	10	the	the	DET
emaj-75	33	11	ex	ex	ADJ
emaj-75	33	12	post	post	NOUN
emaj-75	33	13	performance	performance	NOUN
emaj-75	33	14	measures	measure	NOUN
emaj-75	33	15	,	,	PUNCT
emaj-75	33	16	morck	morck	PROPN
emaj-75	33	17	et	et	PROPN
emaj-75	33	18	al	al	PROPN
emaj-75	33	19	.	.	PROPN
emaj-75	34	1	(	(	PUNCT
emaj-75	34	2	1988	1988	NUM
emaj-75	34	3	)	)	PUNCT
emaj-75	34	4	examine	examine	VERB
emaj-75	34	5	the	the	DET
emaj-75	34	6	relationship	relationship	NOUN
emaj-75	34	7	between	between	ADP
emaj-75	34	8	insiders	insider	NOUN
emaj-75	34	9	’	’	PART
emaj-75	34	10	stock	stock	NOUN
emaj-75	34	11	ownership	ownership	NOUN
emaj-75	34	12	and	and	CCONJ
emaj-75	34	13	firm	firm	ADJ
emaj-75	34	14	performance	performance	NOUN
emaj-75	34	15	(	(	PUNCT
emaj-75	34	16	as	as	SCONJ
emaj-75	34	17	measured	measure	VERB
emaj-75	34	18	by	by	ADP
emaj-75	34	19	tobin	tobin	PROPN
emaj-75	34	20	’s	’s	PART
emaj-75	34	21	q	q	X
emaj-75	34	22	)	)	PUNCT
emaj-75	34	23	for	for	ADP
emaj-75	34	24	371	371	NUM
emaj-75	34	25	large	large	ADJ
emaj-75	34	26	us	us	PROPN
emaj-75	34	27	firms	firm	NOUN
emaj-75	34	28	.	.	PUNCT
emaj-75	35	1	to	to	PART
emaj-75	35	2	capture	capture	VERB
emaj-75	35	3	possible	possible	ADJ
emaj-75	35	4	non	non	NOUN
emaj-75	35	5	-	-	NOUN
emaj-75	35	6	linearities	linearity	NOUN
emaj-75	35	7	,	,	PUNCT
emaj-75	35	8	morck	morck	PROPN
emaj-75	35	9	et	et	PROPN
emaj-75	35	10	al	al	PROPN
emaj-75	35	11	.	.	PUNCT
emaj-75	36	1	use	use	VERB
emaj-75	36	2	a	a	DET
emaj-75	36	3	piecewise	piecewise	NOUN
emaj-75	36	4	regression	regression	NOUN
emaj-75	36	5	and	and	CCONJ
emaj-75	36	6	find	find	VERB
emaj-75	36	7	that	that	SCONJ
emaj-75	36	8	for	for	ADP
emaj-75	36	9	every	every	DET
emaj-75	36	10	1	1	NUM
emaj-75	36	11	percent	percent	NOUN
emaj-75	36	12	increase	increase	NOUN
emaj-75	36	13	in	in	ADP
emaj-75	36	14	ownership	ownership	NOUN
emaj-75	36	15	in	in	ADP
emaj-75	36	16	the	the	DET
emaj-75	36	17	range	range	NOUN
emaj-75	36	18	of	of	ADP
emaj-75	36	19	0	0	NUM
emaj-75	36	20	to	to	PART
emaj-75	36	21	5	5	NUM
emaj-75	36	22	percent	percent	NOUN
emaj-75	36	23	,	,	PUNCT
emaj-75	36	24	q	q	PUNCT
emaj-75	36	25	raises	raise	VERB
emaj-75	36	26	significantly	significantly	ADV
emaj-75	36	27	,	,	PUNCT
emaj-75	36	28	for	for	ADP
emaj-75	36	29	a	a	DET
emaj-75	36	30	similar	similar	ADJ
emaj-75	36	31	increase	increase	NOUN
emaj-75	36	32	in	in	ADP
emaj-75	36	33	ownership	ownership	NOUN
emaj-75	36	34	between	between	ADP
emaj-75	36	35	5	5	NUM
emaj-75	36	36	to	to	PART
emaj-75	36	37	25	25	NUM
emaj-75	36	38	percent	percent	NOUN
emaj-75	36	39	,	,	PUNCT
emaj-75	36	40	q	q	NOUN
emaj-75	36	41	declines	decline	VERB
emaj-75	36	42	significantly	significantly	ADV
emaj-75	36	43	and	and	CCONJ
emaj-75	36	44	beyond	beyond	ADP
emaj-75	36	45	25	25	NUM
emaj-75	36	46	percent	percent	NOUN
emaj-75	36	47	,	,	PUNCT
emaj-75	36	48	q	q	PROPN
emaj-75	36	49	begins	begin	VERB
emaj-75	36	50	to	to	PART
emaj-75	36	51	rise	rise	VERB
emaj-75	36	52	again	again	ADV
emaj-75	36	53	although	although	SCONJ
emaj-75	36	54	at	at	ADP
emaj-75	36	55	a	a	DET
emaj-75	36	56	slower	slow	ADJ
emaj-75	36	57	rate	rate	NOUN
emaj-75	36	58	.	.	PUNCT
emaj-75	37	1	they	they	PRON
emaj-75	37	2	argue	argue	VERB
emaj-75	37	3	that	that	SCONJ
emaj-75	37	4	the	the	DET
emaj-75	37	5	positive	positive	ADJ
emaj-75	37	6	relationship	relationship	NOUN
emaj-75	37	7	,	,	PUNCT
emaj-75	37	8	at	at	ADP
emaj-75	37	9	relatively	relatively	ADV
emaj-75	37	10	low	low	ADJ
emaj-75	37	11	levels	level	NOUN
emaj-75	37	12	of	of	ADP
emaj-75	37	13	insider	insider	NOUN
emaj-75	37	14	1	1	NUM
emaj-75	37	15	these	these	DET
emaj-75	37	16	measures	measure	NOUN
emaj-75	37	17	of	of	ADP
emaj-75	37	18	concentration	concentration	NOUN
emaj-75	37	19	are	be	AUX
emaj-75	37	20	the	the	DET
emaj-75	37	21	percentage	percentage	NOUN
emaj-75	37	22	of	of	ADP
emaj-75	37	23	common	common	ADJ
emaj-75	37	24	stock	stock	NOUN
emaj-75	37	25	held	hold	VERB
emaj-75	37	26	by	by	ADP
emaj-75	37	27	the	the	DET
emaj-75	37	28	largest	large	ADJ
emaj-75	37	29	twenty	twenty	NUM
emaj-75	37	30	stockholders	stockholder	NOUN
emaj-75	37	31	and	and	CCONJ
emaj-75	37	32	a	a	DET
emaj-75	37	33	similar	similar	ADJ
emaj-75	37	34	measure	measure	NOUN
emaj-75	37	35	restricted	restrict	VERB
emaj-75	37	36	to	to	ADP
emaj-75	37	37	the	the	DET
emaj-75	37	38	five	five	NUM
emaj-75	37	39	largest	large	ADJ
emaj-75	37	40	stockholders	stockholder	NOUN
emaj-75	37	41	,	,	PUNCT
emaj-75	37	42	and	and	CCONJ
emaj-75	37	43	a	a	DET
emaj-75	37	44	herfindahl	herfindahl	NOUN
emaj-75	37	45	measure	measure	NOUN
emaj-75	37	46	of	of	ADP
emaj-75	37	47	ownership	ownership	NOUN
emaj-75	37	48	concentration	concentration	NOUN
emaj-75	37	49	.	.	PUNCT
emaj-75	38	1	additional	additional	ADJ
emaj-75	38	2	control	control	NOUN
emaj-75	38	3	variables	variable	NOUN
emaj-75	38	4	include	include	VERB
emaj-75	38	5	dummy	dummy	ADJ
emaj-75	38	6	indicators	indicator	NOUN
emaj-75	38	7	for	for	ADP
emaj-75	38	8	utilities	utility	NOUN
emaj-75	38	9	and	and	CCONJ
emaj-75	38	10	financial	financial	ADJ
emaj-75	38	11	firms	firm	NOUN
emaj-75	38	12	,	,	PUNCT
emaj-75	38	13	along	along	ADP
emaj-75	38	14	with	with	ADP
emaj-75	38	15	capital	capital	NOUN
emaj-75	38	16	,	,	PUNCT
emaj-75	38	17	advertising	advertising	NOUN
emaj-75	38	18	and	and	CCONJ
emaj-75	38	19	research	research	NOUN
emaj-75	38	20	and	and	CCONJ
emaj-75	38	21	development	development	NOUN
emaj-75	38	22	expenditure	expenditure	NOUN
emaj-75	38	23	and	and	CCONJ
emaj-75	38	24	firm	firm	ADJ
emaj-75	38	25	size	size	NOUN
emaj-75	38	26	.	.	PUNCT
emaj-75	39	1	profitability	profitability	NOUN
emaj-75	39	2	is	be	AUX
emaj-75	39	3	measured	measure	VERB
emaj-75	39	4	by	by	ADP
emaj-75	39	5	accounting	accounting	NOUN
emaj-75	39	6	profit	profit	NOUN
emaj-75	39	7	after	after	ADP
emaj-75	39	8	tax	tax	NOUN
emaj-75	39	9	expressed	express	VERB
emaj-75	39	10	as	as	ADP
emaj-75	39	11	a	a	DET
emaj-75	39	12	percentage	percentage	NOUN
emaj-75	39	13	of	of	ADP
emaj-75	39	14	book	book	NOUN
emaj-75	39	15	equity	equity	NOUN
emaj-75	39	16	value	value	NOUN
emaj-75	39	17	.	.	PUNCT
emaj-75	40	1	volume	volume	NOUN
emaj-75	40	2	5	5	NUM
emaj-75	40	3	no	no	DET
emaj-75	40	4	2	2	NUM
emaj-75	40	5	(	(	PUNCT
emaj-75	40	6	2015	2015	NUM
emaj-75	40	7	)	)	PUNCT
emaj-75	40	8	|	|	ADV
emaj-75	40	9	issn	issn	VERB
emaj-75	40	10	2158	2158	NUM
emaj-75	40	11	-	-	SYM
emaj-75	40	12	8708	8708	NUM
emaj-75	40	13	(	(	PUNCT
emaj-75	40	14	online	online	NOUN
emaj-75	40	15	)	)	PUNCT
emaj-75	40	16	|	|	ADV
emaj-75	40	17	doi	doi	X
emaj-75	40	18	10.5195	10.5195	NUM
emaj-75	40	19	/	/	SYM
emaj-75	40	20	emaj.2015.75	emaj.2015.75	NOUN
emaj-75	40	21	|	|	ADV
emaj-75	40	22	http://emaj.pitt	http://emaj.pitt	VERB
emaj-75	40	23	.	.	PUNCT
emaj-75	41	1	the	the	DET
emaj-75	41	2	relationship	relationship	NOUN
emaj-75	41	3	between	between	ADP
emaj-75	41	4	corporate	corporate	ADJ
emaj-75	41	5	performance	performance	NOUN
emaj-75	41	6	and	and	CCONJ
emaj-75	41	7	ownership	ownership	NOUN
emaj-75	41	8	structure	structure	NOUN
emaj-75	41	9	:	:	PUNCT
emaj-75	41	10	evidence	evidence	NOUN
emaj-75	41	11	from	from	ADP
emaj-75	41	12	turkey	turkey	NOUN
emaj-75	41	13	page	page	NOUN
emaj-75	41	14	|10|	|10|	NOUN
emaj-75	41	15	emerging	emerge	VERB
emaj-75	41	16	markets	market	NOUN
emaj-75	41	17	journal	journal	NOUN
emaj-75	41	18	holdings	holding	NOUN
emaj-75	41	19	,	,	PUNCT
emaj-75	41	20	reflects	reflect	VERB
emaj-75	41	21	a	a	DET
emaj-75	41	22	convergence	convergence	NOUN
emaj-75	41	23	of	of	ADP
emaj-75	41	24	managerial	managerial	ADJ
emaj-75	41	25	and	and	CCONJ
emaj-75	41	26	stockholder	stockholder	NOUN
emaj-75	41	27	interests	interest	NOUN
emaj-75	41	28	.	.	PUNCT
emaj-75	42	1	in	in	ADP
emaj-75	42	2	empirical	empirical	ADJ
emaj-75	42	3	studies	study	NOUN
emaj-75	42	4	on	on	ADP
emaj-75	42	5	the	the	DET
emaj-75	42	6	relationship	relationship	NOUN
emaj-75	42	7	between	between	ADP
emaj-75	42	8	the	the	DET
emaj-75	42	9	ownership	ownership	NOUN
emaj-75	42	10	and	and	CCONJ
emaj-75	42	11	control	control	NOUN
emaj-75	42	12	structure	structure	NOUN
emaj-75	42	13	and	and	CCONJ
emaj-75	42	14	corporate	corporate	ADJ
emaj-75	42	15	performance	performance	NOUN
emaj-75	42	16	,	,	PUNCT
emaj-75	42	17	researchers	researcher	NOUN
emaj-75	42	18	encounter	encounter	VERB
emaj-75	42	19	different	different	ADJ
emaj-75	42	20	econometric	econometric	ADJ
emaj-75	42	21	problems	problem	NOUN
emaj-75	42	22	that	that	PRON
emaj-75	42	23	,	,	PUNCT
emaj-75	42	24	if	if	SCONJ
emaj-75	42	25	not	not	PART
emaj-75	42	26	addressed	address	VERB
emaj-75	42	27	,	,	PUNCT
emaj-75	42	28	can	can	AUX
emaj-75	42	29	result	result	VERB
emaj-75	42	30	in	in	ADP
emaj-75	42	31	erroneous	erroneous	ADJ
emaj-75	42	32	inference	inference	NOUN
emaj-75	42	33	on	on	ADP
emaj-75	42	34	the	the	DET
emaj-75	42	35	relationship	relationship	NOUN
emaj-75	42	36	between	between	ADP
emaj-75	42	37	the	the	DET
emaj-75	42	38	variables	variable	NOUN
emaj-75	42	39	.	.	PUNCT
emaj-75	43	1	considering	consider	VERB
emaj-75	43	2	the	the	DET
emaj-75	43	3	multiple	multiple	ADJ
emaj-75	43	4	regression	regression	NOUN
emaj-75	43	5	technique	technique	NOUN
emaj-75	43	6	by	by	ADP
emaj-75	43	7	researchers	researcher	NOUN
emaj-75	43	8	working	work	VERB
emaj-75	43	9	on	on	ADP
emaj-75	43	10	the	the	DET
emaj-75	43	11	subject	subject	NOUN
emaj-75	43	12	,	,	PUNCT
emaj-75	43	13	three	three	NUM
emaj-75	43	14	sources	source	NOUN
emaj-75	43	15	of	of	ADP
emaj-75	43	16	endogeneity	endogeneity	NOUN
emaj-75	43	17	must	must	AUX
emaj-75	43	18	be	be	AUX
emaj-75	43	19	highlighted	highlight	VERB
emaj-75	43	20	that	that	PRON
emaj-75	43	21	could	could	AUX
emaj-75	43	22	derail	derail	VERB
emaj-75	43	23	the	the	DET
emaj-75	43	24	studies	study	NOUN
emaj-75	43	25	’	'	PUNCT
emaj-75	43	26	results	result	VERB
emaj-75	43	27	:	:	PUNCT
emaj-75	43	28	the	the	DET
emaj-75	43	29	omission	omission	NOUN
emaj-75	43	30	of	of	ADP
emaj-75	43	31	variables	variable	NOUN
emaj-75	43	32	,	,	PUNCT
emaj-75	43	33	the	the	DET
emaj-75	43	34	feedback	feedback	NOUN
emaj-75	43	35	effect	effect	NOUN
emaj-75	43	36	,	,	PUNCT
emaj-75	43	37	and	and	CCONJ
emaj-75	43	38	the	the	DET
emaj-75	43	39	reverse	reverse	ADJ
emaj-75	43	40	causality	causality	NOUN
emaj-75	43	41	(	(	PUNCT
emaj-75	43	42	“	"	PUNCT
emaj-75	43	43	simultaneous	simultaneous	ADJ
emaj-75	43	44	determination	determination	NOUN
emaj-75	43	45	”	"	PUNCT
emaj-75	43	46	)	)	PUNCT
emaj-75	43	47	börsch	börsch	NOUN
emaj-75	43	48	-	-	PUNCT
emaj-75	43	49	supan&köke	supan&köke	NOUN
emaj-75	43	50	,	,	PUNCT
emaj-75	43	51	(	(	PUNCT
emaj-75	43	52	2002	2002	NUM
emaj-75	43	53	)	)	PUNCT
emaj-75	43	54	;	;	PUNCT
emaj-75	43	55	barros	barros	PROPN
emaj-75	43	56	et	et	PROPN
emaj-75	43	57	al	al	PROPN
emaj-75	43	58	.	.	PROPN
emaj-75	44	1	(	(	PUNCT
emaj-75	44	2	2010	2010	NUM
emaj-75	44	3	)	)	PUNCT
emaj-75	44	4	.	.	PUNCT
emaj-75	45	1	as	as	SCONJ
emaj-75	45	2	explained	explain	VERB
emaj-75	45	3	by	by	ADP
emaj-75	45	4	barros	barros	PROPN
emaj-75	45	5	et	et	PROPN
emaj-75	45	6	al	al	PROPN
emaj-75	45	7	.	.	PROPN
emaj-75	46	1	(	(	PUNCT
emaj-75	46	2	2010	2010	NUM
emaj-75	46	3	)	)	PUNCT
emaj-75	46	4	,	,	PUNCT
emaj-75	46	5	the	the	DET
emaj-75	46	6	“	"	PUNCT
emaj-75	46	7	assumption	assumption	NOUN
emaj-75	46	8	of	of	ADP
emaj-75	46	9	exogeneity	exogeneity	NOUN
emaj-75	46	10	of	of	ADP
emaj-75	46	11	regressors	regressor	NOUN
emaj-75	46	12	”	"	PUNCT
emaj-75	46	13	in	in	ADP
emaj-75	46	14	the	the	DET
emaj-75	46	15	regression	regression	NOUN
emaj-75	46	16	model	model	NOUN
emaj-75	46	17	excludes	exclude	VERB
emaj-75	46	18	the	the	DET
emaj-75	46	19	possibility	possibility	NOUN
emaj-75	46	20	of	of	ADP
emaj-75	46	21	correlation	correlation	NOUN
emaj-75	46	22	between	between	ADP
emaj-75	46	23	the	the	DET
emaj-75	46	24	explanatory	explanatory	ADJ
emaj-75	46	25	variables	variable	NOUN
emaj-75	46	26	and	and	CCONJ
emaj-75	46	27	the	the	DET
emaj-75	46	28	random	random	ADJ
emaj-75	46	29	error	error	NOUN
emaj-75	46	30	term	term	NOUN
emaj-75	46	31	.	.	PUNCT
emaj-75	47	1	if	if	SCONJ
emaj-75	47	2	this	this	DET
emaj-75	47	3	assumption	assumption	NOUN
emaj-75	47	4	is	be	AUX
emaj-75	47	5	invalid	invalid	ADJ
emaj-75	47	6	,	,	PUNCT
emaj-75	47	7	the	the	DET
emaj-75	47	8	regressors	regressor	NOUN
emaj-75	47	9	are	be	AUX
emaj-75	47	10	endogenous	endogenous	ADJ
emaj-75	47	11	and	and	CCONJ
emaj-75	47	12	should	should	AUX
emaj-75	47	13	mitigate	mitigate	VERB
emaj-75	47	14	endogeneity	endogeneity	NOUN
emaj-75	47	15	;	;	PUNCT
emaj-75	47	16	otherwise	otherwise	ADV
emaj-75	47	17	,	,	PUNCT
emaj-75	47	18	the	the	DET
emaj-75	47	19	parameters	parameter	NOUN
emaj-75	47	20	will	will	AUX
emaj-75	47	21	be	be	AUX
emaj-75	47	22	biased	bias	VERB
emaj-75	47	23	.	.	PUNCT
emaj-75	48	1	according	accord	VERB
emaj-75	48	2	to	to	ADP
emaj-75	48	3	börsch	börsch	NOUN
emaj-75	48	4	-	-	PUNCT
emaj-75	48	5	supan&köke	supan&köke	VERB
emaj-75	48	6	,	,	PUNCT
emaj-75	48	7	(	(	PUNCT
emaj-75	48	8	2002	2002	NUM
emaj-75	48	9	)	)	PUNCT
emaj-75	48	10	,	,	PUNCT
emaj-75	48	11	the	the	DET
emaj-75	48	12	omission	omission	NOUN
emaj-75	48	13	of	of	ADP
emaj-75	48	14	variables	variable	NOUN
emaj-75	48	15	that	that	PRON
emaj-75	48	16	are	be	AUX
emaj-75	48	17	relevant	relevant	ADJ
emaj-75	48	18	to	to	ADP
emaj-75	48	19	the	the	DET
emaj-75	48	20	estimated	estimate	VERB
emaj-75	48	21	model	model	NOUN
emaj-75	48	22	occurs	occur	VERB
emaj-75	48	23	for	for	ADP
emaj-75	48	24	two	two	NUM
emaj-75	48	25	reasons	reason	NOUN
emaj-75	48	26	:	:	PUNCT
emaj-75	48	27	the	the	DET
emaj-75	48	28	non	non	NOUN
emaj-75	48	29	-	-	NOUN
emaj-75	48	30	availability	availability	NOUN
emaj-75	48	31	of	of	ADP
emaj-75	48	32	data	datum	NOUN
emaj-75	48	33	on	on	ADP
emaj-75	48	34	potentially	potentially	ADV
emaj-75	48	35	important	important	ADJ
emaj-75	48	36	variables	variable	NOUN
emaj-75	48	37	for	for	ADP
emaj-75	48	38	corporate	corporate	ADJ
emaj-75	48	39	governance	governance	NOUN
emaj-75	48	40	studies	study	NOUN
emaj-75	48	41	,	,	PUNCT
emaj-75	48	42	and	and	CCONJ
emaj-75	48	43	lack	lack	NOUN
emaj-75	48	44	of	of	ADP
emaj-75	48	45	knowledge	knowledge	NOUN
emaj-75	48	46	about	about	ADP
emaj-75	48	47	the	the	DET
emaj-75	48	48	type	type	NOUN
emaj-75	48	49	of	of	ADP
emaj-75	48	50	that	that	PRON
emaj-75	48	51	explains	explain	VERB
emaj-75	48	52	the	the	DET
emaj-75	48	53	relationship	relationship	NOUN
emaj-75	48	54	between	between	ADP
emaj-75	48	55	the	the	DET
emaj-75	48	56	variables	variable	NOUN
emaj-75	48	57	.	.	PUNCT
emaj-75	49	1	silveira	silveira	PROPN
emaj-75	49	2	(	(	PUNCT
emaj-75	49	3	2010	2010	NUM
emaj-75	49	4	)	)	PUNCT
emaj-75	49	5	noted	note	VERB
emaj-75	49	6	that	that	SCONJ
emaj-75	49	7	omissions	omission	NOUN
emaj-75	49	8	of	of	ADP
emaj-75	49	9	variables	variable	NOUN
emaj-75	49	10	can	can	AUX
emaj-75	49	11	result	result	VERB
emaj-75	49	12	in	in	ADP
emaj-75	49	13	a	a	DET
emaj-75	49	14	spurious	spurious	ADJ
emaj-75	49	15	correlation	correlation	NOUN
emaj-75	49	16	between	between	ADP
emaj-75	49	17	variables	variable	NOUN
emaj-75	49	18	of	of	ADP
emaj-75	49	19	interest	interest	NOUN
emaj-75	49	20	,	,	PUNCT
emaj-75	49	21	also	also	ADV
emaj-75	49	22	known	know	VERB
emaj-75	49	23	as	as	ADP
emaj-75	49	24	the	the	DET
emaj-75	49	25	fallacy	fallacy	NOUN
emaj-75	49	26	of	of	ADP
emaj-75	49	27	the	the	DET
emaj-75	49	28	common	common	ADJ
emaj-75	49	29	cause	cause	NOUN
emaj-75	49	30	.	.	PUNCT
emaj-75	50	1	the	the	DET
emaj-75	50	2	use	use	NOUN
emaj-75	50	3	of	of	ADP
emaj-75	50	4	control	control	NOUN
emaj-75	50	5	variables	variable	NOUN
emaj-75	50	6	and	and	CCONJ
emaj-75	50	7	the	the	DET
emaj-75	50	8	procedures	procedure	NOUN
emaj-75	50	9	of	of	ADP
emaj-75	50	10	random	random	ADJ
emaj-75	50	11	and	and	CCONJ
emaj-75	50	12	fixed	fix	VERB
emaj-75	50	13	effects	effect	NOUN
emaj-75	50	14	,	,	PUNCT
emaj-75	50	15	as	as	ADP
emaj-75	50	16	in	in	ADP
emaj-75	50	17	the	the	DET
emaj-75	50	18	studies	study	NOUN
emaj-75	50	19	by	by	ADP
emaj-75	50	20	claessens	claessen	NOUN
emaj-75	50	21	et	et	PROPN
emaj-75	50	22	al	al	PROPN
emaj-75	50	23	.	.	PUNCT
emaj-75	50	24	(	(	PUNCT
emaj-75	50	25	2002	2002	NUM
emaj-75	50	26	)	)	PUNCT
emaj-75	50	27	and	and	CCONJ
emaj-75	50	28	fahlenbrach	fahlenbrach	VERB
emaj-75	50	29	and	and	CCONJ
emaj-75	50	30	stulz	stulz	ADJ
emaj-75	50	31	(	(	PUNCT
emaj-75	50	32	2009	2009	NUM
emaj-75	50	33	)	)	PUNCT
emaj-75	50	34	,	,	PUNCT
emaj-75	50	35	are	be	AUX
emaj-75	50	36	a	a	DET
emaj-75	50	37	way	way	NOUN
emaj-75	50	38	to	to	PART
emaj-75	50	39	combat	combat	VERB
emaj-75	50	40	the	the	DET
emaj-75	50	41	problem	problem	NOUN
emaj-75	50	42	.	.	PUNCT
emaj-75	51	1	claessen	claessen	PROPN
emaj-75	51	2	et	et	PROPN
emaj-75	51	3	al	al	PROPN
emaj-75	51	4	.	.	PROPN
emaj-75	52	1	(	(	PUNCT
emaj-75	52	2	2002	2002	NUM
emaj-75	52	3	)	)	PUNCT
emaj-75	52	4	analyzed	analyze	VERB
emaj-75	52	5	the	the	DET
emaj-75	52	6	impact	impact	NOUN
emaj-75	52	7	of	of	ADP
emaj-75	52	8	the	the	DET
emaj-75	52	9	participation	participation	NOUN
emaj-75	52	10	of	of	ADP
emaj-75	52	11	the	the	DET
emaj-75	52	12	largest	large	ADJ
emaj-75	52	13	shareholder	shareholder	NOUN
emaj-75	52	14	in	in	ADP
emaj-75	52	15	the	the	DET
emaj-75	52	16	ownership	ownership	NOUN
emaj-75	52	17	and	and	CCONJ
emaj-75	52	18	control	control	NOUN
emaj-75	52	19	on	on	ADP
emaj-75	52	20	corporate	corporate	ADJ
emaj-75	52	21	market	market	NOUN
emaj-75	52	22	value	value	NOUN
emaj-75	52	23	.	.	PUNCT
emaj-75	53	1	by	by	ADP
emaj-75	53	2	employing	employ	VERB
emaj-75	53	3	regression	regression	NOUN
emaj-75	53	4	with	with	ADP
emaj-75	53	5	random	random	ADJ
emaj-75	53	6	effects	effect	NOUN
emaj-75	53	7	on	on	ADP
emaj-75	53	8	a	a	DET
emaj-75	53	9	sample	sample	NOUN
emaj-75	53	10	of	of	ADP
emaj-75	53	11	1.301	1.301	NUM
emaj-75	53	12	companies	company	NOUN
emaj-75	53	13	from	from	ADP
emaj-75	53	14	eight	eight	NUM
emaj-75	53	15	different	different	ADJ
emaj-75	53	16	countries	country	NOUN
emaj-75	53	17	in	in	ADP
emaj-75	53	18	east	east	PROPN
emaj-75	53	19	asia	asia	PROPN
emaj-75	53	20	,	,	PUNCT
emaj-75	53	21	the	the	DET
emaj-75	53	22	authors	author	NOUN
emaj-75	53	23	found	find	VERB
emaj-75	53	24	evidence	evidence	NOUN
emaj-75	53	25	that	that	SCONJ
emaj-75	53	26	ownership	ownership	NOUN
emaj-75	53	27	concentration	concentration	NOUN
emaj-75	53	28	and	and	CCONJ
emaj-75	53	29	control	control	NOUN
emaj-75	53	30	concentration	concentration	NOUN
emaj-75	53	31	influenced	influence	VERB
emaj-75	53	32	tobin	tobin	PROPN
emaj-75	53	33	’s	’s	PART
emaj-75	53	34	q	q	NOUN
emaj-75	53	35	positively	positively	ADV
emaj-75	53	36	and	and	CCONJ
emaj-75	53	37	negatively	negatively	ADV
emaj-75	53	38	,	,	PUNCT
emaj-75	53	39	respectively	respectively	ADV
emaj-75	53	40	.	.	PUNCT
emaj-75	54	1	thus	thus	ADV
emaj-75	54	2	,	,	PUNCT
emaj-75	54	3	the	the	DET
emaj-75	54	4	conclusions	conclusion	NOUN
emaj-75	54	5	from	from	ADP
emaj-75	54	6	the	the	DET
emaj-75	54	7	study	study	NOUN
emaj-75	54	8	suggested	suggest	VERB
emaj-75	54	9	that	that	SCONJ
emaj-75	54	10	the	the	DET
emaj-75	54	11	incentive	incentive	NOUN
emaj-75	54	12	and	and	CCONJ
emaj-75	54	13	entrenchment	entrenchment	ADJ
emaj-75	54	14	effects	effect	NOUN
emaj-75	54	15	can	can	AUX
emaj-75	54	16	be	be	AUX
emaj-75	54	17	captured	capture	VERB
emaj-75	54	18	through	through	ADP
emaj-75	54	19	proxies	proxy	NOUN
emaj-75	54	20	linked	link	VERB
emaj-75	54	21	to	to	ADP
emaj-75	54	22	cash	cash	NOUN
emaj-75	54	23	flow	flow	NOUN
emaj-75	54	24	and	and	CCONJ
emaj-75	54	25	voting	voting	NOUN
emaj-75	54	26	rights	right	NOUN
emaj-75	54	27	in	in	ADP
emaj-75	54	28	organizations	organization	NOUN
emaj-75	54	29	.	.	PUNCT
emaj-75	55	1	lehman	lehman	PROPN
emaj-75	55	2	and	and	CCONJ
emaj-75	55	3	weigand	weigand	PROPN
emaj-75	55	4	(	(	PUNCT
emaj-75	55	5	2000	2000	NUM
emaj-75	55	6	)	)	PUNCT
emaj-75	55	7	found	find	VERB
emaj-75	55	8	ownership	ownership	NOUN
emaj-75	55	9	concentration	concentration	NOUN
emaj-75	55	10	to	to	PART
emaj-75	55	11	affect	affect	VERB
emaj-75	55	12	profitability	profitability	NOUN
emaj-75	55	13	significantly	significantly	ADV
emaj-75	55	14	negatively	negatively	ADV
emaj-75	55	15	in	in	ADP
emaj-75	55	16	panel	panel	NOUN
emaj-75	55	17	regressions	regression	NOUN
emaj-75	55	18	for	for	ADP
emaj-75	55	19	361	361	NUM
emaj-75	55	20	german	german	ADJ
emaj-75	55	21	corporations	corporation	NOUN
emaj-75	55	22	over	over	ADP
emaj-75	55	23	the	the	DET
emaj-75	55	24	time	time	NOUN
emaj-75	55	25	period	period	NOUN
emaj-75	55	26	1991	1991	NUM
emaj-75	55	27	to	to	ADP
emaj-75	55	28	1996	1996	NUM
emaj-75	55	29	.	.	PUNCT
emaj-75	56	1	although	although	SCONJ
emaj-75	56	2	they	they	PRON
emaj-75	56	3	showed	show	VERB
emaj-75	56	4	this	this	DET
emaj-75	56	5	effect	effect	NOUN
emaj-75	56	6	depends	depend	VERB
emaj-75	56	7	intricately	intricately	ADV
emaj-75	56	8	on	on	ADP
emaj-75	56	9	stock	stock	NOUN
emaj-75	56	10	market	market	NOUN
emaj-75	56	11	exposure	exposure	NOUN
emaj-75	56	12	,	,	PUNCT
emaj-75	56	13	the	the	DET
emaj-75	56	14	location	location	NOUN
emaj-75	56	15	of	of	ADP
emaj-75	56	16	control	control	NOUN
emaj-75	56	17	rights	right	NOUN
emaj-75	56	18	,	,	PUNCT
emaj-75	56	19	and	and	CCONJ
emaj-75	56	20	the	the	DET
emaj-75	56	21	time	time	NOUN
emaj-75	56	22	horizon	horizon	NOUN
emaj-75	56	23	.	.	PUNCT
emaj-75	57	1	mishra	mishra	PROPN
emaj-75	57	2	et	et	PROPN
emaj-75	57	3	al	al	PROPN
emaj-75	57	4	.	.	PROPN
emaj-75	58	1	(	(	PUNCT
emaj-75	58	2	2001	2001	NUM
emaj-75	58	3	)	)	PUNCT
emaj-75	58	4	examined	examine	VERB
emaj-75	58	5	a	a	DET
emaj-75	58	6	sample	sample	NOUN
emaj-75	58	7	of	of	ADP
emaj-75	58	8	120	120	NUM
emaj-75	58	9	norwegian	norwegian	ADJ
emaj-75	58	10	,	,	PUNCT
emaj-75	58	11	founding	found	VERB
emaj-75	58	12	family	family	NOUN
emaj-75	58	13	controlled	control	VERB
emaj-75	58	14	and	and	CCONJ
emaj-75	58	15	nonfounding	nonfounde	VERB
emaj-75	58	16	family	family	NOUN
emaj-75	58	17	controlled	control	VERB
emaj-75	58	18	firms	firm	NOUN
emaj-75	58	19	.	.	PUNCT
emaj-75	59	1	they	they	PRON
emaj-75	59	2	found	find	VERB
emaj-75	59	3	a	a	DET
emaj-75	59	4	positive	positive	ADJ
emaj-75	59	5	association	association	NOUN
emaj-75	59	6	between	between	ADP
emaj-75	59	7	founding	found	VERB
emaj-75	59	8	family	family	NOUN
emaj-75	59	9	control	control	NOUN
emaj-75	59	10	and	and	CCONJ
emaj-75	59	11	firm	firm	ADJ
emaj-75	59	12	value	value	NOUN
emaj-75	59	13	for	for	ADP
emaj-75	59	14	alternative	alternative	ADJ
emaj-75	59	15	definitions	definition	NOUN
emaj-75	59	16	of	of	ADP
emaj-75	59	17	founding	found	VERB
emaj-75	59	18	family	family	NOUN
emaj-75	59	19	control	control	NOUN
emaj-75	59	20	.	.	PUNCT
emaj-75	60	1	faccio	faccio	PROPN
emaj-75	60	2	and	and	CCONJ
emaj-75	60	3	land	land	NOUN
emaj-75	60	4	(	(	PUNCT
emaj-75	60	5	2002	2002	NUM
emaj-75	60	6	)	)	PUNCT
emaj-75	60	7	analyzed	analyze	VERB
emaj-75	60	8	the	the	DET
emaj-75	60	9	ultimate	ultimate	ADJ
emaj-75	60	10	ownership	ownership	NOUN
emaj-75	60	11	and	and	CCONJ
emaj-75	60	12	control	control	NOUN
emaj-75	60	13	of	of	ADP
emaj-75	60	14	5,232	5,232	NUM
emaj-75	60	15	corporations	corporation	NOUN
emaj-75	60	16	in	in	ADP
emaj-75	60	17	13	13	NUM
emaj-75	60	18	western	western	ADJ
emaj-75	60	19	european	european	ADJ
emaj-75	60	20	countries	country	NOUN
emaj-75	60	21	.	.	PUNCT
emaj-75	61	1	typically	typically	ADV
emaj-75	61	2	firms	firm	NOUN
emaj-75	61	3	are	be	AUX
emaj-75	61	4	widely	widely	ADV
emaj-75	61	5	held	hold	VERB
emaj-75	61	6	(	(	PUNCT
emaj-75	61	7	36.93	36.93	NUM
emaj-75	61	8	%	%	NOUN
emaj-75	61	9	)	)	PUNCT
emaj-75	61	10	or	or	CCONJ
emaj-75	61	11	family	family	NOUN
emaj-75	61	12	controlled	control	VERB
emaj-75	61	13	(	(	PUNCT
emaj-75	61	14	44.29	44.29	NUM
emaj-75	61	15	%	%	NOUN
emaj-75	61	16	)	)	PUNCT
emaj-75	61	17	.	.	PUNCT
emaj-75	62	1	they	they	PRON
emaj-75	62	2	found	find	VERB
emaj-75	62	3	that	that	SCONJ
emaj-75	62	4	financial	financial	ADJ
emaj-75	62	5	and	and	CCONJ
emaj-75	62	6	large	large	ADJ
emaj-75	62	7	firms	firm	NOUN
emaj-75	62	8	are	be	AUX
emaj-75	62	9	more	more	ADV
emaj-75	62	10	likely	likely	ADJ
emaj-75	62	11	widely	widely	ADV
emaj-75	62	12	held	hold	VERB
emaj-75	62	13	,	,	PUNCT
emaj-75	62	14	while	while	SCONJ
emaj-75	62	15	non	non	ADJ
emaj-75	62	16	-	-	ADJ
emaj-75	62	17	financial	financial	ADJ
emaj-75	62	18	and	and	CCONJ
emaj-75	62	19	small	small	ADJ
emaj-75	62	20	firms	firm	NOUN
emaj-75	62	21	are	be	AUX
emaj-75	62	22	more	more	ADV
emaj-75	62	23	likely	likely	ADJ
emaj-75	62	24	family	family	NOUN
emaj-75	62	25	controlled	control	VERB
emaj-75	62	26	.	.	PUNCT
emaj-75	63	1	kapopoulos	kapopoulos	PROPN
emaj-75	63	2	and	and	CCONJ
emaj-75	63	3	lazaretou	lazaretou	PROPN
emaj-75	63	4	(	(	PUNCT
emaj-75	63	5	2007	2007	NUM
emaj-75	63	6	)	)	PUNCT
emaj-75	63	7	investigated	investigate	VERB
emaj-75	63	8	whether	whether	SCONJ
emaj-75	63	9	there	there	PRON
emaj-75	63	10	is	be	VERB
emaj-75	63	11	strong	strong	ADJ
emaj-75	63	12	evidence	evidence	NOUN
emaj-75	63	13	to	to	PART
emaj-75	63	14	support	support	VERB
emaj-75	63	15	the	the	DET
emaj-75	63	16	notion	notion	NOUN
emaj-75	63	17	that	that	SCONJ
emaj-75	63	18	variations	variation	NOUN
emaj-75	63	19	across	across	ADP
emaj-75	63	20	firms	firm	NOUN
emaj-75	63	21	in	in	ADP
emaj-75	63	22	observed	observed	ADJ
emaj-75	63	23	ownership	ownership	NOUN
emaj-75	63	24	structures	structure	NOUN
emaj-75	63	25	result	result	VERB
emaj-75	63	26	in	in	ADP
emaj-75	63	27	systematic	systematic	ADJ
emaj-75	63	28	variations	variation	NOUN
emaj-75	63	29	in	in	ADP
emaj-75	63	30	observed	observed	ADJ
emaj-75	63	31	firm	firm	ADJ
emaj-75	63	32	performance	performance	NOUN
emaj-75	63	33	.	.	PUNCT
emaj-75	64	1	the	the	DET
emaj-75	64	2	paper	paper	NOUN
emaj-75	64	3	tested	test	VERB
emaj-75	64	4	this	this	DET
emaj-75	64	5	hypothesis	hypothesis	NOUN
emaj-75	64	6	by	by	ADP
emaj-75	64	7	assessing	assess	VERB
emaj-75	64	8	the	the	DET
emaj-75	64	9	impact	impact	NOUN
emaj-75	64	10	of	of	ADP
emaj-75	64	11	the	the	DET
emaj-75	64	12	structure	structure	NOUN
emaj-75	64	13	of	of	ADP
emaj-75	64	14	ownership	ownership	NOUN
emaj-75	64	15	on	on	ADP
emaj-75	64	16	corporate	corporate	ADJ
emaj-75	64	17	performance	performance	NOUN
emaj-75	64	18	,	,	PUNCT
emaj-75	64	19	measured	measure	VERB
emaj-75	64	20	by	by	ADP
emaj-75	64	21	profitability	profitability	NOUN
emaj-75	64	22	,	,	PUNCT
emaj-75	64	23	using	use	VERB
emaj-75	64	24	data	datum	NOUN
emaj-75	64	25	for	for	ADP
emaj-75	64	26	175	175	NUM
emaj-75	64	27	greek	greek	ADJ
emaj-75	64	28	listed	list	VERB
emaj-75	64	29	firms	firm	NOUN
emaj-75	64	30	.	.	PUNCT
emaj-75	65	1	according	accord	VERB
emaj-75	65	2	to	to	ADP
emaj-75	65	3	their	their	PRON
emaj-75	65	4	study	study	NOUN
emaj-75	65	5	ownership	ownership	NOUN
emaj-75	65	6	structure	structure	NOUN
emaj-75	65	7	is	be	AUX
emaj-75	65	8	positively	positively	ADV
emaj-75	65	9	related	relate	VERB
emaj-75	65	10	to	to	ADP
emaj-75	65	11	higher	high	ADJ
emaj-75	65	12	profitability	profitability	NOUN
emaj-75	65	13	of	of	ADP
emaj-75	65	14	analyzed	analyze	VERB
emaj-75	65	15	firms	firm	NOUN
emaj-75	65	16	.	.	PUNCT
emaj-75	66	1	cornett	cornett	PROPN
emaj-75	66	2	et	et	PROPN
emaj-75	66	3	al	al	PROPN
emaj-75	66	4	.	.	PROPN
emaj-75	67	1	(	(	PUNCT
emaj-75	67	2	2008	2008	NUM
emaj-75	67	3	)	)	PUNCT
emaj-75	67	4	investigated	investigate	VERB
emaj-75	67	5	the	the	DET
emaj-75	67	6	relation	relation	NOUN
emaj-75	67	7	between	between	ADP
emaj-75	67	8	institutional	institutional	ADJ
emaj-75	67	9	investors	investor	NOUN
emaj-75	67	10	'	'	PART
emaj-75	67	11	involvement	involvement	NOUN
emaj-75	67	12	and	and	CCONJ
emaj-75	67	13	operational	operational	ADJ
emaj-75	67	14	performances	performance	NOUN
emaj-75	67	15	of	of	ADP
emaj-75	67	16	the	the	DET
emaj-75	67	17	large	large	ADJ
emaj-75	67	18	sized	sized	ADJ
emaj-75	67	19	firms	firm	NOUN
emaj-75	67	20	.	.	PUNCT
emaj-75	68	1	institutional	institutional	ADJ
emaj-75	68	2	ownership	ownership	NOUN
emaj-75	68	3	of	of	ADP
emaj-75	68	4	shares	share	NOUN
emaj-75	68	5	,	,	PUNCT
emaj-75	68	6	institutional	institutional	ADJ
emaj-75	68	7	investor	investor	NOUN
emaj-75	68	8	representation	representation	NOUN
emaj-75	68	9	on	on	ADP
emaj-75	68	10	the	the	DET
emaj-75	68	11	board	board	NOUN
emaj-75	68	12	of	of	ADP
emaj-75	68	13	directors	director	NOUN
emaj-75	68	14	,	,	PUNCT
emaj-75	68	15	and	and	CCONJ
emaj-75	68	16	the	the	DET
emaj-75	68	17	presence	presence	NOUN
emaj-75	68	18	of	of	ADP
emaj-75	68	19	independent	independent	ADJ
emaj-75	68	20	outside	outside	ADJ
emaj-75	68	21	directors	director	NOUN
emaj-75	68	22	on	on	ADP
emaj-75	68	23	the	the	DET
emaj-75	68	24	board	board	NOUN
emaj-75	68	25	all	all	PRON
emaj-75	68	26	reduce	reduce	VERB
emaj-75	68	27	the	the	DET
emaj-75	68	28	use	use	NOUN
emaj-75	68	29	of	of	ADP
emaj-75	68	30	discretionary	discretionary	ADJ
emaj-75	68	31	accruals	accrual	NOUN
emaj-75	68	32	.	.	PUNCT
emaj-75	69	1	they	they	PRON
emaj-75	69	2	found	find	VERB
emaj-75	69	3	that	that	SCONJ
emaj-75	69	4	there	there	PRON
emaj-75	69	5	was	be	VERB
emaj-75	69	6	a	a	DET
emaj-75	69	7	significant	significant	ADJ
emaj-75	69	8	relationship	relationship	NOUN
emaj-75	69	9	between	between	ADP
emaj-75	69	10	operating	operate	VERB
emaj-75	69	11	cash	cash	NOUN
emaj-75	69	12	volume	volume	NOUN
emaj-75	69	13	5	5	NUM
emaj-75	69	14	no	no	DET
emaj-75	69	15	2	2	NUM
emaj-75	69	16	(	(	PUNCT
emaj-75	69	17	2015	2015	NUM
emaj-75	69	18	)	)	PUNCT
emaj-75	69	19	|	|	ADV
emaj-75	69	20	issn	issn	VERB
emaj-75	69	21	2158	2158	NUM
emaj-75	69	22	-	-	SYM
emaj-75	69	23	8708	8708	NUM
emaj-75	69	24	(	(	PUNCT
emaj-75	69	25	online	online	NOUN
emaj-75	69	26	)	)	PUNCT
emaj-75	69	27	|	|	ADV
emaj-75	69	28	doi	doi	X
emaj-75	69	29	10.5195	10.5195	NUM
emaj-75	69	30	/	/	SYM
emaj-75	69	31	emaj.2015.75	emaj.2015.75	NOUN
emaj-75	70	1	|	|	NOUN
emaj-75	70	2	http://emaj.pitt.edu	http://emaj.pitt.edu	PROPN
emaj-75	70	3	hicabi	hicabi	NOUN
emaj-75	70	4	ersoy	ersoy	NOUN
emaj-75	70	5	,	,	PUNCT
emaj-75	70	6	ayben	ayben	PROPN
emaj-75	70	7	koy	koy	VERB
emaj-75	70	8	emerging	emerge	VERB
emaj-75	70	9	markets	market	NOUN
emaj-75	70	10	journal	journal	NOUN
emaj-75	71	1	|	|	ADV
emaj-75	71	2	p	p	NOUN
emaj-75	71	3	a	a	DET
emaj-75	71	4	g	g	NOUN
emaj-75	71	5	e	e	ADP
emaj-75	71	6	|11	|11	PROPN
emaj-75	71	7	flow	flow	NOUN
emaj-75	71	8	returns	return	NOUN
emaj-75	71	9	of	of	ADP
emaj-75	71	10	the	the	DET
emaj-75	71	11	companies	company	NOUN
emaj-75	71	12	and	and	CCONJ
emaj-75	71	13	the	the	DET
emaj-75	71	14	percentage	percentage	NOUN
emaj-75	71	15	of	of	ADP
emaj-75	71	16	the	the	DET
emaj-75	71	17	institutional	institutional	ADJ
emaj-75	71	18	stock	stock	NOUN
emaj-75	71	19	ownerships	ownership	NOUN
emaj-75	71	20	.	.	PUNCT
emaj-75	72	1	fahrenbrach	fahrenbrach	NOUN
emaj-75	72	2	and	and	CCONJ
emaj-75	72	3	stulz	stulz	ADJ
emaj-75	72	4	(	(	PUNCT
emaj-75	72	5	2009	2009	NUM
emaj-75	72	6	)	)	PUNCT
emaj-75	72	7	investigated	investigate	VERB
emaj-75	72	8	the	the	DET
emaj-75	72	9	possible	possible	ADJ
emaj-75	72	10	determinants	determinant	NOUN
emaj-75	72	11	of	of	ADP
emaj-75	72	12	insider	insider	NOUN
emaj-75	72	13	ownership	ownership	NOUN
emaj-75	72	14	and	and	CCONJ
emaj-75	72	15	its	its	PRON
emaj-75	72	16	impact	impact	NOUN
emaj-75	72	17	on	on	ADP
emaj-75	72	18	the	the	DET
emaj-75	72	19	market	market	NOUN
emaj-75	72	20	value	value	NOUN
emaj-75	72	21	of	of	ADP
emaj-75	72	22	4.900	4.900	NUM
emaj-75	72	23	companies	company	NOUN
emaj-75	72	24	in	in	ADP
emaj-75	72	25	the	the	DET
emaj-75	72	26	united	united	PROPN
emaj-75	72	27	states	states	PROPN
emaj-75	72	28	for	for	ADP
emaj-75	72	29	the	the	DET
emaj-75	72	30	period	period	NOUN
emaj-75	72	31	from	from	ADP
emaj-75	72	32	1988	1988	NUM
emaj-75	72	33	to	to	ADP
emaj-75	72	34	2003	2003	NUM
emaj-75	72	35	.	.	PUNCT
emaj-75	73	1	the	the	DET
emaj-75	73	2	authors	author	NOUN
emaj-75	73	3	applied	apply	VERB
emaj-75	73	4	probit	probit	NOUN
emaj-75	73	5	models	model	NOUN
emaj-75	73	6	and	and	CCONJ
emaj-75	73	7	linear	linear	ADJ
emaj-75	73	8	regression	regression	NOUN
emaj-75	73	9	,	,	PUNCT
emaj-75	73	10	both	both	CCONJ
emaj-75	73	11	with	with	ADP
emaj-75	73	12	fixed	fix	VERB
emaj-75	73	13	effects	effect	NOUN
emaj-75	73	14	.	.	PUNCT
emaj-75	74	1	the	the	DET
emaj-75	74	2	results	result	NOUN
emaj-75	74	3	indicated	indicate	VERB
emaj-75	74	4	that	that	SCONJ
emaj-75	74	5	good	good	ADJ
emaj-75	74	6	stock	stock	NOUN
emaj-75	74	7	performance	performance	NOUN
emaj-75	74	8	generally	generally	ADV
emaj-75	74	9	decreases	decrease	VERB
emaj-75	74	10	managerial	managerial	ADJ
emaj-75	74	11	ownership	ownership	NOUN
emaj-75	74	12	,	,	PUNCT
emaj-75	74	13	and	and	CCONJ
emaj-75	74	14	an	an	DET
emaj-75	74	15	increase	increase	NOUN
emaj-75	74	16	in	in	ADP
emaj-75	74	17	shares	share	NOUN
emaj-75	74	18	held	hold	VERB
emaj-75	74	19	by	by	ADP
emaj-75	74	20	managers	manager	NOUN
emaj-75	74	21	tends	tend	VERB
emaj-75	74	22	to	to	PART
emaj-75	74	23	increase	increase	VERB
emaj-75	74	24	tobin	tobin	PROPN
emaj-75	74	25	’s	’s	PART
emaj-75	74	26	q.	q.	PROPN
emaj-75	74	27	however	however	ADV
emaj-75	74	28	a	a	DET
emaj-75	74	29	large	large	ADJ
emaj-75	74	30	reduction	reduction	NOUN
emaj-75	74	31	in	in	ADP
emaj-75	74	32	managerial	managerial	ADJ
emaj-75	74	33	ownership	ownership	NOUN
emaj-75	74	34	did	do	AUX
emaj-75	74	35	not	not	PART
emaj-75	74	36	result	result	VERB
emaj-75	74	37	in	in	ADP
emaj-75	74	38	a	a	DET
emaj-75	74	39	decline	decline	NOUN
emaj-75	74	40	in	in	ADP
emaj-75	74	41	firm	firm	ADJ
emaj-75	74	42	market	market	NOUN
emaj-75	74	43	value	value	NOUN
emaj-75	74	44	.	.	PUNCT
emaj-75	75	1	gurbuz	gurbuz	NOUN
emaj-75	75	2	et	et	PROPN
emaj-75	75	3	al	al	PROPN
emaj-75	75	4	(	(	PUNCT
emaj-75	75	5	2010	2010	NUM
emaj-75	75	6	)	)	PUNCT
emaj-75	75	7	investigated	investigate	VERB
emaj-75	75	8	the	the	DET
emaj-75	75	9	impact	impact	NOUN
emaj-75	75	10	of	of	ADP
emaj-75	75	11	corporate	corporate	ADJ
emaj-75	75	12	governance	governance	NOUN
emaj-75	75	13	on	on	ADP
emaj-75	75	14	financial	financial	ADJ
emaj-75	75	15	performance	performance	NOUN
emaj-75	75	16	in	in	ADP
emaj-75	75	17	turkey	turkey	NOUN
emaj-75	75	18	,	,	PUNCT
emaj-75	75	19	taking	take	VERB
emaj-75	75	20	the	the	DET
emaj-75	75	21	issue	issue	NOUN
emaj-75	75	22	of	of	ADP
emaj-75	75	23	institutional	institutional	ADJ
emaj-75	75	24	ownership	ownership	NOUN
emaj-75	75	25	into	into	ADP
emaj-75	75	26	account	account	NOUN
emaj-75	75	27	.	.	PUNCT
emaj-75	76	1	the	the	DET
emaj-75	76	2	paper	paper	NOUN
emaj-75	76	3	employs	employ	VERB
emaj-75	76	4	panel	panel	NOUN
emaj-75	76	5	data	datum	NOUN
emaj-75	76	6	analysis	analysis	NOUN
emaj-75	76	7	on	on	ADP
emaj-75	76	8	a	a	DET
emaj-75	76	9	sample	sample	NOUN
emaj-75	76	10	of	of	ADP
emaj-75	76	11	164	164	NUM
emaj-75	76	12	firm	firm	ADJ
emaj-75	76	13	-	-	PUNCT
emaj-75	76	14	year	year	NOUN
emaj-75	76	15	observations	observation	NOUN
emaj-75	76	16	for	for	ADP
emaj-75	76	17	real	real	ADJ
emaj-75	76	18	sector	sector	NOUN
emaj-75	76	19	firms	firm	NOUN
emaj-75	76	20	on	on	ADP
emaj-75	76	21	the	the	DET
emaj-75	76	22	istanbul	istanbul	PROPN
emaj-75	76	23	stock	stock	PROPN
emaj-75	76	24	exchange	exchange	PROPN
emaj-75	76	25	(	(	PUNCT
emaj-75	76	26	ise	ise	PROPN
emaj-75	76	27	)	)	PUNCT
emaj-75	76	28	covering	cover	VERB
emaj-75	76	29	the	the	DET
emaj-75	76	30	4	4	NUM
emaj-75	76	31	year	year	NOUN
emaj-75	76	32	time	time	NOUN
emaj-75	76	33	span	span	NOUN
emaj-75	76	34	between	between	ADP
emaj-75	76	35	20052008	20052008	NUM
emaj-75	76	36	.	.	PUNCT
emaj-75	77	1	the	the	DET
emaj-75	77	2	results	result	NOUN
emaj-75	77	3	of	of	ADP
emaj-75	77	4	the	the	DET
emaj-75	77	5	analyses	analysis	NOUN
emaj-75	77	6	demonstrate	demonstrate	VERB
emaj-75	77	7	the	the	DET
emaj-75	77	8	positive	positive	ADJ
emaj-75	77	9	influence	influence	NOUN
emaj-75	77	10	of	of	ADP
emaj-75	77	11	corporate	corporate	ADJ
emaj-75	77	12	governance	governance	NOUN
emaj-75	77	13	and	and	CCONJ
emaj-75	77	14	institutional	institutional	ADJ
emaj-75	77	15	ownership	ownership	NOUN
emaj-75	77	16	on	on	ADP
emaj-75	77	17	financial	financial	ADJ
emaj-75	77	18	performance	performance	NOUN
emaj-75	77	19	.	.	PUNCT
emaj-75	78	1	additionally	additionally	ADV
emaj-75	78	2	,	,	PUNCT
emaj-75	78	3	the	the	DET
emaj-75	78	4	impact	impact	NOUN
emaj-75	78	5	of	of	ADP
emaj-75	78	6	institutional	institutional	ADJ
emaj-75	78	7	investors	investor	NOUN
emaj-75	78	8	is	be	AUX
emaj-75	78	9	found	find	VERB
emaj-75	78	10	to	to	PART
emaj-75	78	11	be	be	AUX
emaj-75	78	12	more	more	ADV
emaj-75	78	13	strongly	strongly	ADV
emaj-75	78	14	pronounced	pronounce	VERB
emaj-75	78	15	on	on	ADP
emaj-75	78	16	firms	firm	NOUN
emaj-75	78	17	listed	list	VERB
emaj-75	78	18	on	on	ADP
emaj-75	78	19	the	the	DET
emaj-75	78	20	corporate	corporate	ADJ
emaj-75	78	21	governance	governance	NOUN
emaj-75	78	22	index	index	NOUN
emaj-75	78	23	.	.	PUNCT
emaj-75	79	1	azofra	azofra	NOUN
emaj-75	79	2	and	and	CCONJ
emaj-75	79	3	santamaría	santamaría	NOUN
emaj-75	79	4	(	(	PUNCT
emaj-75	79	5	2011	2011	NUM
emaj-75	79	6	)	)	PUNCT
emaj-75	79	7	investigated	investigate	VERB
emaj-75	79	8	the	the	DET
emaj-75	79	9	relationship	relationship	NOUN
emaj-75	79	10	between	between	ADP
emaj-75	79	11	ownership	ownership	NOUN
emaj-75	79	12	structure	structure	NOUN
emaj-75	79	13	and	and	CCONJ
emaj-75	79	14	the	the	DET
emaj-75	79	15	corporate	corporate	ADJ
emaj-75	79	16	performance	performance	NOUN
emaj-75	79	17	of	of	ADP
emaj-75	79	18	80	80	NUM
emaj-75	79	19	spanish	spanish	ADJ
emaj-75	79	20	banks	bank	NOUN
emaj-75	79	21	between	between	ADP
emaj-75	79	22	1996	1996	NUM
emaj-75	79	23	and	and	CCONJ
emaj-75	79	24	2004	2004	NUM
emaj-75	79	25	.	.	PUNCT
emaj-75	80	1	the	the	DET
emaj-75	80	2	results	result	NOUN
emaj-75	80	3	of	of	ADP
emaj-75	80	4	the	the	DET
emaj-75	80	5	study	study	NOUN
emaj-75	80	6	’s	’s	PART
emaj-75	80	7	regression	regression	NOUN
emaj-75	80	8	models	model	NOUN
emaj-75	80	9	,	,	PUNCT
emaj-75	80	10	estimated	estimate	VERB
emaj-75	80	11	by	by	ADP
emaj-75	80	12	the	the	DET
emaj-75	80	13	gmm	gmm	PROPN
emaj-75	80	14	(	(	PUNCT
emaj-75	80	15	generalized	generalized	ADJ
emaj-75	80	16	method	method	NOUN
emaj-75	80	17	of	of	ADP
emaj-75	80	18	movements)2	movements)2	NOUN
emaj-75	80	19	,	,	PUNCT
emaj-75	80	20	indicated	indicate	VERB
emaj-75	80	21	that	that	SCONJ
emaj-75	80	22	the	the	PRON
emaj-75	80	23	greater	great	ADJ
emaj-75	80	24	the	the	DET
emaj-75	80	25	separation	separation	NOUN
emaj-75	80	26	between	between	ADP
emaj-75	80	27	the	the	DET
emaj-75	80	28	largest	large	ADJ
emaj-75	80	29	shareholder	shareholder	NOUN
emaj-75	80	30	’s	’s	PART
emaj-75	80	31	cash	cash	NOUN
emaj-75	80	32	flow	flow	NOUN
emaj-75	80	33	and	and	CCONJ
emaj-75	80	34	voting	voting	NOUN
emaj-75	80	35	rights	right	NOUN
emaj-75	80	36	,	,	PUNCT
emaj-75	80	37	the	the	PRON
emaj-75	80	38	smaller	small	ADJ
emaj-75	80	39	the	the	DET
emaj-75	80	40	company	company	NOUN
emaj-75	80	41	’s	’s	PART
emaj-75	80	42	return	return	NOUN
emaj-75	80	43	on	on	ADP
emaj-75	80	44	assets	asset	NOUN
emaj-75	80	45	,	,	PUNCT
emaj-75	80	46	and	and	CCONJ
emaj-75	80	47	there	there	PRON
emaj-75	80	48	is	be	VERB
emaj-75	80	49	no	no	DET
emaj-75	80	50	difference	difference	NOUN
emaj-75	80	51	between	between	ADP
emaj-75	80	52	ownership	ownership	NOUN
emaj-75	80	53	and	and	CCONJ
emaj-75	80	54	control	control	NOUN
emaj-75	80	55	,	,	PUNCT
emaj-75	80	56	the	the	DET
emaj-75	80	57	2	2	NUM
emaj-75	80	58	gmm	gmm	NOUN
emaj-75	80	59	,	,	PUNCT
emaj-75	80	60	has	have	VERB
emaj-75	80	61	performedbygugler	performedbygugler	NOUN
emaj-75	80	62	et	et	PROPN
emaj-75	80	63	al	al	PROPN
emaj-75	80	64	.	.	PROPN
emaj-75	81	1	(	(	PUNCT
emaj-75	81	2	2008	2008	NUM
emaj-75	81	3	)	)	PUNCT
emaj-75	81	4	andazofraandsantamaría	andazofraandsantamaría	NOUN
emaj-75	81	5	(	(	PUNCT
emaj-75	81	6	2011	2011	NUM
emaj-75	81	7	)	)	PUNCT
emaj-75	81	8	,	,	PUNCT
emaj-75	81	9	is	be	AUX
emaj-75	81	10	a	a	DET
emaj-75	81	11	sorurse	sorurse	NOUN
emaj-75	81	12	of	of	ADP
emaj-75	81	13	endogeneoty	endogeneoty	NOUN
emaj-75	81	14	in	in	ADP
emaj-75	81	15	corporatefinancestudies	corporatefinancestudie	NOUN
emaj-75	81	16	(	(	PUNCT
emaj-75	81	17	wintoki	wintoki	NOUN
emaj-75	81	18	,	,	PUNCT
emaj-75	81	19	linck	linck	PROPN
emaj-75	81	20	,	,	PUNCT
emaj-75	81	21	&	&	CCONJ
emaj-75	81	22	netter	netter	NOUN
emaj-75	81	23	,	,	PUNCT
emaj-75	81	24	2012	2012	NUM
emaj-75	81	25	)	)	PUNCT
emaj-75	81	26	is	be	AUX
emaj-75	81	27	a	a	DET
emaj-75	81	28	way	way	NOUN
emaj-75	81	29	of	of	ADP
emaj-75	81	30	mitigatingfeedbackeffectorfeedbackloop	mitigatingfeedbackeffectorfeedbackloop	NOUN
emaj-75	81	31	of	of	ADP
emaj-75	81	32	theresponsevariabletotheregressors	theresponsevariabletotheregressor	NOUN
emaj-75	81	33	.	.	PUNCT
emaj-75	82	1	thiseffectemergeswhenthepastvalues	thiseffectemergeswhenthepastvalue	NOUN
emaj-75	82	2	of	of	ADP
emaj-75	82	3	thedependentvariablesinfluencethecontemporaryand	thedependentvariablesinfluencethecontemporaryand	NOUN
emaj-75	82	4	/	/	SYM
emaj-75	82	5	orfu	orfu	PROPN
emaj-75	82	6	turevalues	turevalue	NOUN
emaj-75	82	7	of	of	ADP
emaj-75	82	8	theindependentvariables	theindependentvariable	NOUN
emaj-75	82	9	(	(	PUNCT
emaj-75	82	10	barros	barros	PROPN
emaj-75	82	11	,	,	PUNCT
emaj-75	82	12	castro	castro	PROPN
emaj-75	82	13	júnior	júnior	PROPN
emaj-75	82	14	,	,	PUNCT
emaj-75	82	15	silveira	silveira	PROPN
emaj-75	82	16	,	,	PUNCT
emaj-75	82	17	&	&	CCONJ
emaj-75	82	18	bergman	bergman	PROPN
emaj-75	82	19	,	,	PUNCT
emaj-75	82	20	2010	2010	NUM
emaj-75	82	21	)	)	PUNCT
emaj-75	82	22	.	.	PUNCT
emaj-75	83	1	relationship	relationship	NOUN
emaj-75	83	2	between	between	ADP
emaj-75	83	3	the	the	DET
emaj-75	83	4	controlling	control	VERB
emaj-75	83	5	shareholder	shareholder	NOUN
emaj-75	83	6	’s	’s	PART
emaj-75	83	7	shareholding	shareholding	NOUN
emaj-75	83	8	and	and	CCONJ
emaj-75	83	9	the	the	DET
emaj-75	83	10	bank	bank	NOUN
emaj-75	83	11	’s	’s	PART
emaj-75	83	12	profitability	profitability	NOUN
emaj-75	83	13	is	be	AUX
emaj-75	83	14	not	not	PART
emaj-75	83	15	monotonic	monotonic	ADJ
emaj-75	83	16	.	.	PUNCT
emaj-75	84	1	drakos	drakos	PROPN
emaj-75	84	2	and	and	CCONJ
emaj-75	84	3	bekiris	bekiris	NOUN
emaj-75	84	4	(	(	PUNCT
emaj-75	84	5	2010	2010	NUM
emaj-75	84	6	)	)	PUNCT
emaj-75	84	7	studied	study	VERB
emaj-75	84	8	the	the	DET
emaj-75	84	9	impact	impact	NOUN
emaj-75	84	10	of	of	ADP
emaj-75	84	11	ownership	ownership	NOUN
emaj-75	84	12	structure	structure	NOUN
emaj-75	84	13	on	on	ADP
emaj-75	84	14	the	the	DET
emaj-75	84	15	market	market	NOUN
emaj-75	84	16	value	value	NOUN
emaj-75	84	17	of	of	ADP
emaj-75	84	18	146	146	NUM
emaj-75	84	19	companies	company	NOUN
emaj-75	84	20	listed	list	VERB
emaj-75	84	21	on	on	ADP
emaj-75	84	22	the	the	DET
emaj-75	84	23	athens	athens	PROPN
emaj-75	84	24	stock	stock	PROPN
emaj-75	84	25	exchange	exchange	NOUN
emaj-75	84	26	from	from	ADP
emaj-75	84	27	2000	2000	NUM
emaj-75	84	28	to	to	ADP
emaj-75	84	29	2004	2004	NUM
emaj-75	84	30	.	.	PUNCT
emaj-75	85	1	regression	regression	NOUN
emaj-75	85	2	estimated	estimate	VERB
emaj-75	85	3	by	by	ADP
emaj-75	85	4	two	two	NUM
emaj-75	85	5	stage	stage	NOUN
emaj-75	85	6	least	least	ADJ
emaj-75	85	7	squares	square	NOUN
emaj-75	85	8	(	(	PUNCT
emaj-75	85	9	2sls	2sls	NOUN
emaj-75	85	10	)	)	PUNCT
emaj-75	85	11	and	and	CCONJ
emaj-75	85	12	three	three	NUM
emaj-75	85	13	stage	stage	NOUN
emaj-75	85	14	least	least	ADV
emaj-75	85	15	square	square	ADJ
emaj-75	85	16	(	(	PUNCT
emaj-75	85	17	3sls	3sls	NOUN
emaj-75	85	18	)	)	PUNCT
emaj-75	85	19	were	be	AUX
emaj-75	85	20	used	use	VERB
emaj-75	85	21	.	.	PUNCT
emaj-75	86	1	the	the	DET
emaj-75	86	2	authors	author	NOUN
emaj-75	86	3	found	find	VERB
emaj-75	86	4	that	that	SCONJ
emaj-75	86	5	inside	inside	ADJ
emaj-75	86	6	directors	director	NOUN
emaj-75	86	7	’	’	PART
emaj-75	86	8	shareholdings	shareholding	NOUN
emaj-75	86	9	(	(	PUNCT
emaj-75	86	10	member	member	NOUN
emaj-75	86	11	of	of	ADP
emaj-75	86	12	the	the	DET
emaj-75	86	13	executive	executive	PROPN
emaj-75	86	14	board	board	PROPN
emaj-75	86	15	)	)	PUNCT
emaj-75	86	16	and	and	CCONJ
emaj-75	86	17	the	the	DET
emaj-75	86	18	accumulation	accumulation	NOUN
emaj-75	86	19	of	of	ADP
emaj-75	86	20	shares	share	NOUN
emaj-75	86	21	by	by	ADP
emaj-75	86	22	investors	investor	NOUN
emaj-75	86	23	who	who	PRON
emaj-75	86	24	owned	own	VERB
emaj-75	86	25	more	more	ADJ
emaj-75	86	26	than1	than1	NOUN
emaj-75	86	27	%	%	NOUN
emaj-75	86	28	of	of	ADP
emaj-75	86	29	the	the	DET
emaj-75	86	30	shares	share	NOUN
emaj-75	86	31	and	and	CCONJ
emaj-75	86	32	who	who	PRON
emaj-75	86	33	did	do	AUX
emaj-75	86	34	not	not	PART
emaj-75	86	35	participate	participate	VERB
emaj-75	86	36	in	in	ADP
emaj-75	86	37	senior	senior	ADJ
emaj-75	86	38	management	management	NOUN
emaj-75	86	39	positively	positively	ADV
emaj-75	86	40	influenced	influence	VERB
emaj-75	86	41	tobin	tobin	PROPN
emaj-75	86	42	’s	’s	PART
emaj-75	86	43	q.	q.	PROPN
emaj-75	86	44	garcia	garcia	PROPN
emaj-75	86	45	-	-	PUNCT
emaj-75	86	46	meca	meca	PROPN
emaj-75	86	47	and	and	CCONJ
emaj-75	86	48	sanchez	sanchez	NOUN
emaj-75	86	49	-	-	PUNCT
emaj-75	86	50	ballesta	ballesta	PROPN
emaj-75	86	51	(	(	PUNCT
emaj-75	86	52	2011	2011	NUM
emaj-75	86	53	)	)	PUNCT
emaj-75	86	54	applied	apply	VERB
emaj-75	86	55	piecewise	piecewise	NOUN
emaj-75	86	56	ols	ol	NOUN
emaj-75	86	57	(	(	PUNCT
emaj-75	86	58	ordinary	ordinary	ADJ
emaj-75	86	59	least	least	ADJ
emaj-75	86	60	squares	square	NOUN
emaj-75	86	61	)	)	PUNCT
emaj-75	86	62	regressions	regression	NOUN
emaj-75	86	63	and	and	CCONJ
emaj-75	86	64	2sls	2sls	NOUN
emaj-75	86	65	regressions	regression	NOUN
emaj-75	86	66	with	with	ADP
emaj-75	86	67	random	random	ADJ
emaj-75	86	68	effects	effect	NOUN
emaj-75	86	69	in	in	ADP
emaj-75	86	70	a	a	DET
emaj-75	86	71	non	non	ADJ
emaj-75	86	72	-	-	ADJ
emaj-75	86	73	balanced	balanced	ADJ
emaj-75	86	74	panel	panel	NOUN
emaj-75	86	75	composed	compose	VERB
emaj-75	86	76	of	of	ADP
emaj-75	86	77	76	76	NUM
emaj-75	86	78	spanish	spanish	ADJ
emaj-75	86	79	companies	company	NOUN
emaj-75	86	80	for	for	ADP
emaj-75	86	81	the	the	DET
emaj-75	86	82	period	period	NOUN
emaj-75	86	83	from	from	ADP
emaj-75	86	84	1999	1999	NUM
emaj-75	86	85	to	to	ADP
emaj-75	86	86	2002	2002	NUM
emaj-75	86	87	.	.	PUNCT
emaj-75	87	1	the	the	DET
emaj-75	87	2	results	result	NOUN
emaj-75	87	3	generally	generally	ADV
emaj-75	87	4	pointed	point	VERB
emaj-75	87	5	to	to	ADP
emaj-75	87	6	the	the	DET
emaj-75	87	7	existence	existence	NOUN
emaj-75	87	8	of	of	ADP
emaj-75	87	9	a	a	DET
emaj-75	87	10	quadratic	quadratic	ADJ
emaj-75	87	11	relationship	relationship	NOUN
emaj-75	87	12	between	between	ADP
emaj-75	87	13	large	large	ADJ
emaj-75	87	14	shareholders	shareholder	NOUN
emaj-75	87	15	’	'	PUNCT
emaj-75	87	16	shareholding	shareholding	NOUN
emaj-75	87	17	(	(	PUNCT
emaj-75	87	18	who	who	PRON
emaj-75	87	19	owned	own	VERB
emaj-75	87	20	more	more	ADJ
emaj-75	87	21	than	than	ADP
emaj-75	87	22	5	5	NUM
emaj-75	87	23	%	%	NOUN
emaj-75	87	24	of	of	ADP
emaj-75	87	25	the	the	DET
emaj-75	87	26	shares	share	NOUN
emaj-75	87	27	)	)	PUNCT
emaj-75	87	28	and	and	CCONJ
emaj-75	87	29	tobin	tobin	PROPN
emaj-75	87	30	’s	’s	PART
emaj-75	87	31	q.	q.	PROPN
emaj-75	87	32	an	an	DET
emaj-75	87	33	increase	increase	NOUN
emaj-75	87	34	in	in	ADP
emaj-75	87	35	ownership	ownership	NOUN
emaj-75	87	36	concentration	concentration	NOUN
emaj-75	87	37	increased	increase	VERB
emaj-75	87	38	the	the	DET
emaj-75	87	39	corporate	corporate	ADJ
emaj-75	87	40	market	market	NOUN
emaj-75	87	41	value	value	NOUN
emaj-75	87	42	up	up	ADP
emaj-75	87	43	to	to	PART
emaj-75	87	44	60	60	NUM
emaj-75	87	45	%	%	NOUN
emaj-75	87	46	accumulation	accumulation	NOUN
emaj-75	87	47	of	of	ADP
emaj-75	87	48	the	the	DET
emaj-75	87	49	shares	share	NOUN
emaj-75	87	50	,	,	PUNCT
emaj-75	87	51	and	and	CCONJ
emaj-75	87	52	the	the	DET
emaj-75	87	53	market	market	NOUN
emaj-75	87	54	value	value	NOUN
emaj-75	87	55	decreased	decrease	VERB
emaj-75	87	56	after	after	ADP
emaj-75	87	57	that	that	DET
emaj-75	87	58	point	point	NOUN
emaj-75	87	59	.	.	PUNCT
emaj-75	88	1	luo	luo	PROPN
emaj-75	88	2	et	et	PROPN
emaj-75	88	3	al	al	PROPN
emaj-75	88	4	(	(	PUNCT
emaj-75	88	5	2013	2013	NUM
emaj-75	88	6	)	)	PUNCT
emaj-75	88	7	used	use	VERB
emaj-75	88	8	data	datum	NOUN
emaj-75	88	9	from	from	ADP
emaj-75	88	10	chinese	chinese	ADJ
emaj-75	88	11	family	family	NOUN
emaj-75	88	12	listed	list	VERB
emaj-75	88	13	companies	company	NOUN
emaj-75	88	14	from	from	ADP
emaj-75	88	15	2004	2004	NUM
emaj-75	88	16	to	to	ADP
emaj-75	88	17	2007	2007	NUM
emaj-75	88	18	.	.	PUNCT
emaj-75	89	1	the	the	DET
emaj-75	89	2	study	study	NOUN
emaj-75	89	3	showed	show	VERB
emaj-75	89	4	inverse	inverse	NOUN
emaj-75	89	5	u	u	ADJ
emaj-75	89	6	-	-	ADJ
emaj-75	89	7	shaped	shape	VERB
emaj-75	89	8	relationships	relationship	NOUN
emaj-75	89	9	between	between	ADP
emaj-75	89	10	contest	contest	NOUN
emaj-75	89	11	for	for	ADP
emaj-75	89	12	control	control	NOUN
emaj-75	89	13	and	and	CCONJ
emaj-75	89	14	corporate	corporate	ADJ
emaj-75	89	15	market	market	NOUN
emaj-75	89	16	value	value	NOUN
emaj-75	89	17	,	,	PUNCT
emaj-75	89	18	as	as	SCONJ
emaj-75	89	19	measured	measure	VERB
emaj-75	89	20	by	by	ADP
emaj-75	89	21	tobin	tobin	PROPN
emaj-75	89	22	’s	’s	PART
emaj-75	89	23	q	q	NOUN
emaj-75	89	24	,	,	PUNCT
emaj-75	89	25	and	and	CCONJ
emaj-75	89	26	between	between	ADP
emaj-75	89	27	the	the	DET
emaj-75	89	28	number	number	NOUN
emaj-75	89	29	of	of	ADP
emaj-75	89	30	large	large	ADJ
emaj-75	89	31	shareholders	shareholder	NOUN
emaj-75	89	32	and	and	CCONJ
emaj-75	89	33	corporate	corporate	ADJ
emaj-75	89	34	market	market	NOUN
emaj-75	89	35	value	value	NOUN
emaj-75	89	36	.	.	PUNCT
emaj-75	90	1	findings	finding	NOUN
emaj-75	90	2	indicated	indicate	VERB
emaj-75	90	3	that	that	SCONJ
emaj-75	90	4	at	at	ADP
emaj-75	90	5	low	low	ADJ
emaj-75	90	6	to	to	ADP
emaj-75	90	7	medium	medium	ADJ
emaj-75	90	8	levels	level	NOUN
emaj-75	90	9	of	of	ADP
emaj-75	90	10	contest	contest	NOUN
emaj-75	90	11	for	for	ADP
emaj-75	90	12	control	control	NOUN
emaj-75	90	13	or	or	CCONJ
emaj-75	90	14	number	number	NOUN
emaj-75	90	15	of	of	ADP
emaj-75	90	16	large	large	ADJ
emaj-75	90	17	shareholders	shareholder	NOUN
emaj-75	90	18	,	,	PUNCT
emaj-75	90	19	formal	formal	ADJ
emaj-75	90	20	institutions	institution	NOUN
emaj-75	90	21	can	can	AUX
emaj-75	90	22	strengthen	strengthen	VERB
emaj-75	90	23	.	.	PUNCT
emaj-75	91	1	jusoh	jusoh	PROPN
emaj-75	91	2	(	(	PUNCT
emaj-75	91	3	2014	2014	NUM
emaj-75	91	4	)	)	PUNCT
emaj-75	91	5	investigated	investigate	VERB
emaj-75	91	6	the	the	DET
emaj-75	91	7	effect	effect	NOUN
emaj-75	91	8	of	of	ADP
emaj-75	91	9	audit	audit	NOUN
emaj-75	91	10	quality	quality	NOUN
emaj-75	91	11	on	on	ADP
emaj-75	91	12	company	company	NOUN
emaj-75	91	13	performance	performance	NOUN
emaj-75	91	14	.	.	PUNCT
emaj-75	92	1	panel	panel	NOUN
emaj-75	92	2	data	datum	NOUN
emaj-75	92	3	of	of	ADP
emaj-75	92	4	730	730	NUM
emaj-75	92	5	malaysian	malaysian	ADJ
emaj-75	92	6	public	public	ADJ
emaj-75	92	7	listed	list	VERB
emaj-75	92	8	companies	company	NOUN
emaj-75	92	9	were	be	AUX
emaj-75	92	10	examined	examine	VERB
emaj-75	92	11	.	.	PUNCT
emaj-75	93	1	the	the	DET
emaj-75	93	2	results	result	NOUN
emaj-75	93	3	showed	show	VERB
emaj-75	93	4	that	that	SCONJ
emaj-75	93	5	managerial	managerial	ADJ
emaj-75	93	6	ownership	ownership	NOUN
emaj-75	93	7	had	have	VERB
emaj-75	93	8	negative	negative	ADJ
emaj-75	93	9	and	and	CCONJ
emaj-75	93	10	significant	significant	ADJ
emaj-75	93	11	relationship	relationship	NOUN
emaj-75	93	12	with	with	ADP
emaj-75	93	13	roa	roa	PROPN
emaj-75	93	14	and	and	CCONJ
emaj-75	93	15	tobin	tobin	PROPN
emaj-75	93	16	’s	’s	PART
emaj-75	93	17	q.	q.	NOUN
emaj-75	93	18	in	in	ADP
emaj-75	93	19	contrast	contrast	NOUN
emaj-75	93	20	,	,	PUNCT
emaj-75	93	21	institutional	institutional	ADJ
emaj-75	93	22	ownership	ownership	NOUN
emaj-75	93	23	showed	show	VERB
emaj-75	93	24	positive	positive	ADJ
emaj-75	93	25	and	and	CCONJ
emaj-75	93	26	significant	significant	ADJ
emaj-75	93	27	relationship	relationship	NOUN
emaj-75	93	28	with	with	ADP
emaj-75	93	29	roa	roa	PROPN
emaj-75	93	30	and	and	CCONJ
emaj-75	93	31	tobin	tobin	PROPN
emaj-75	93	32	’s	’s	PART
emaj-75	93	33	q.	q.	PROPN
emaj-75	93	34	volume	volume	PROPN
emaj-75	93	35	5	5	NUM
emaj-75	93	36	no	no	DET
emaj-75	93	37	2	2	NUM
emaj-75	93	38	(	(	PUNCT
emaj-75	93	39	2015	2015	NUM
emaj-75	93	40	)	)	PUNCT
emaj-75	93	41	|	|	ADV
emaj-75	93	42	issn	issn	VERB
emaj-75	93	43	2158	2158	NUM
emaj-75	93	44	-	-	SYM
emaj-75	93	45	8708	8708	NUM
emaj-75	93	46	(	(	PUNCT
emaj-75	93	47	online	online	NOUN
emaj-75	93	48	)	)	PUNCT
emaj-75	93	49	|	|	ADV
emaj-75	93	50	doi	doi	X
emaj-75	93	51	10.5195	10.5195	NUM
emaj-75	93	52	/	/	SYM
emaj-75	93	53	emaj.2015.75	emaj.2015.75	NOUN
emaj-75	93	54	|	|	ADV
emaj-75	93	55	http://emaj.pitt	http://emaj.pitt	VERB
emaj-75	93	56	.	.	PUNCT
emaj-75	94	1	the	the	DET
emaj-75	94	2	relationship	relationship	NOUN
emaj-75	94	3	between	between	ADP
emaj-75	94	4	corporate	corporate	ADJ
emaj-75	94	5	performance	performance	NOUN
emaj-75	94	6	and	and	CCONJ
emaj-75	94	7	ownership	ownership	NOUN
emaj-75	94	8	structure	structure	NOUN
emaj-75	94	9	:	:	PUNCT
emaj-75	94	10	evidence	evidence	NOUN
emaj-75	94	11	from	from	ADP
emaj-75	94	12	turkey	turkey	NOUN
emaj-75	94	13	page	page	NOUN
emaj-75	94	14	|12|	|12|	NOUN
emaj-75	94	15	emerging	emerge	VERB
emaj-75	94	16	markets	market	NOUN
emaj-75	94	17	journal	journal	PROPN
emaj-75	94	18	iii	iii	PROPN
emaj-75	94	19	.	.	PROPN
emaj-75	94	20	methodology	methodology	NOUN
emaj-75	94	21	and	and	CCONJ
emaj-75	94	22	data	data	VERB
emaj-75	94	23	the	the	DET
emaj-75	94	24	objective	objective	NOUN
emaj-75	94	25	of	of	ADP
emaj-75	94	26	this	this	DET
emaj-75	94	27	research	research	NOUN
emaj-75	94	28	is	be	AUX
emaj-75	94	29	to	to	PART
emaj-75	94	30	identify	identify	VERB
emaj-75	94	31	financial	financial	ADJ
emaj-75	94	32	effects	effect	NOUN
emaj-75	94	33	of	of	ADP
emaj-75	94	34	the	the	DET
emaj-75	94	35	various	various	ADJ
emaj-75	94	36	ownership	ownership	NOUN
emaj-75	94	37	structures	structure	NOUN
emaj-75	94	38	on	on	ADP
emaj-75	94	39	the	the	DET
emaj-75	94	40	performances	performance	NOUN
emaj-75	94	41	of	of	ADP
emaj-75	94	42	the	the	DET
emaj-75	94	43	bist	bist	ADJ
emaj-75	94	44	30	30	NUM
emaj-75	94	45	companies	company	NOUN
emaj-75	94	46	,	,	PUNCT
emaj-75	94	47	which	which	PRON
emaj-75	94	48	are	be	AUX
emaj-75	94	49	the	the	DET
emaj-75	94	50	biggest	big	ADJ
emaj-75	94	51	open	open	ADJ
emaj-75	94	52	to	to	ADP
emaj-75	94	53	public	public	ADJ
emaj-75	94	54	companies	company	NOUN
emaj-75	94	55	according	accord	VERB
emaj-75	94	56	to	to	ADP
emaj-75	94	57	firm	firm	ADJ
emaj-75	94	58	size	size	NOUN
emaj-75	94	59	by	by	ADP
emaj-75	94	60	their	their	PRON
emaj-75	94	61	volume	volume	NOUN
emaj-75	94	62	in	in	ADP
emaj-75	94	63	turkish	turkish	ADJ
emaj-75	94	64	stock	stock	NOUN
emaj-75	94	65	market	market	NOUN
emaj-75	94	66	.	.	PUNCT
emaj-75	95	1	therefore	therefore	ADV
emaj-75	95	2	,	,	PUNCT
emaj-75	95	3	in	in	ADP
emaj-75	95	4	this	this	DET
emaj-75	95	5	study	study	NOUN
emaj-75	95	6	we	we	PRON
emaj-75	95	7	investigate	investigate	VERB
emaj-75	95	8	the	the	DET
emaj-75	95	9	role	role	NOUN
emaj-75	95	10	of	of	ADP
emaj-75	95	11	the	the	DET
emaj-75	95	12	different	different	ADJ
emaj-75	95	13	ownership	ownership	NOUN
emaj-75	95	14	concentration	concentration	NOUN
emaj-75	95	15	structures	structure	NOUN
emaj-75	95	16	on	on	ADP
emaj-75	95	17	the	the	DET
emaj-75	95	18	performances	performance	NOUN
emaj-75	95	19	of	of	ADP
emaj-75	95	20	the	the	DET
emaj-75	95	21	companies	company	NOUN
emaj-75	95	22	.	.	PUNCT
emaj-75	96	1	research	research	NOUN
emaj-75	96	2	hypotheses	hypothesis	NOUN
emaj-75	96	3	:	:	PUNCT
emaj-75	96	4	the	the	DET
emaj-75	96	5	main	main	ADJ
emaj-75	96	6	hypothesis	hypothesis	NOUN
emaj-75	96	7	is	be	AUX
emaj-75	96	8	“	"	PUNCT
emaj-75	96	9	there	there	PRON
emaj-75	96	10	is	be	VERB
emaj-75	96	11	a	a	DET
emaj-75	96	12	significant	significant	ADJ
emaj-75	96	13	relationship	relationship	NOUN
emaj-75	96	14	between	between	ADP
emaj-75	96	15	ownership	ownership	NOUN
emaj-75	96	16	structure	structure	NOUN
emaj-75	96	17	and	and	CCONJ
emaj-75	96	18	the	the	DET
emaj-75	96	19	performances	performance	NOUN
emaj-75	96	20	of	of	ADP
emaj-75	96	21	the	the	DET
emaj-75	96	22	bist	bist	ADJ
emaj-75	96	23	30	30	NUM
emaj-75	96	24	companies	company	NOUN
emaj-75	96	25	”	"	PUNCT
emaj-75	96	26	.	.	PUNCT
emaj-75	97	1	so	so	ADV
emaj-75	97	2	“	"	PUNCT
emaj-75	97	3	there	there	PRON
emaj-75	97	4	is	be	VERB
emaj-75	97	5	a	a	DET
emaj-75	97	6	significant	significant	ADJ
emaj-75	97	7	relationship	relationship	NOUN
emaj-75	97	8	between	between	ADP
emaj-75	97	9	the	the	DET
emaj-75	97	10	size	size	NOUN
emaj-75	97	11	of	of	ADP
emaj-75	97	12	the	the	DET
emaj-75	97	13	largest	large	ADJ
emaj-75	97	14	share	share	NOUN
emaj-75	97	15	of	of	ADP
emaj-75	97	16	the	the	DET
emaj-75	97	17	firm	firm	ADJ
emaj-75	97	18	equity	equity	NOUN
emaj-75	97	19	and	and	CCONJ
emaj-75	97	20	the	the	DET
emaj-75	97	21	firm	firm	ADJ
emaj-75	97	22	performance	performance	NOUN
emaj-75	97	23	”	"	PUNCT
emaj-75	97	24	research	research	NOUN
emaj-75	97	25	variables	variable	NOUN
emaj-75	97	26	:	:	PUNCT
emaj-75	97	27	we	we	PRON
emaj-75	97	28	examine	examine	VERB
emaj-75	97	29	the	the	DET
emaj-75	97	30	effects	effect	NOUN
emaj-75	97	31	of	of	ADP
emaj-75	97	32	ownership	ownership	NOUN
emaj-75	97	33	structure	structure	NOUN
emaj-75	97	34	on	on	ADP
emaj-75	97	35	firm	firm	ADJ
emaj-75	97	36	value	value	NOUN
emaj-75	97	37	among	among	ADP
emaj-75	97	38	listed	list	VERB
emaj-75	97	39	turkish	turkish	ADJ
emaj-75	97	40	non	non	ADJ
emaj-75	97	41	-	-	ADJ
emaj-75	97	42	financial	financial	ADJ
emaj-75	97	43	bist	bist	NOUN
emaj-75	97	44	30	30	NUM
emaj-75	97	45	companies	company	NOUN
emaj-75	97	46	.	.	PUNCT
emaj-75	98	1	data	datum	NOUN
emaj-75	98	2	used	use	VERB
emaj-75	98	3	for	for	ADP
emaj-75	98	4	this	this	DET
emaj-75	98	5	analysis	analysis	NOUN
emaj-75	98	6	come	come	VERB
emaj-75	98	7	from	from	ADP
emaj-75	98	8	two	two	NUM
emaj-75	98	9	sources	source	NOUN
emaj-75	98	10	.	.	PUNCT
emaj-75	99	1	first	first	ADV
emaj-75	99	2	,	,	PUNCT
emaj-75	99	3	the	the	DET
emaj-75	99	4	ownership	ownership	NOUN
emaj-75	99	5	structures	structure	NOUN
emaj-75	99	6	were	be	AUX
emaj-75	99	7	taken	take	VERB
emaj-75	99	8	from	from	ADP
emaj-75	99	9	annual	annual	ADJ
emaj-75	99	10	reports	report	NOUN
emaj-75	99	11	of	of	ADP
emaj-75	99	12	related	related	ADJ
emaj-75	99	13	firms	firm	NOUN
emaj-75	99	14	.	.	PUNCT
emaj-75	100	1	the	the	DET
emaj-75	100	2	other	other	ADJ
emaj-75	100	3	sources	source	NOUN
emaj-75	100	4	of	of	ADP
emaj-75	100	5	data	datum	NOUN
emaj-75	100	6	are	be	AUX
emaj-75	100	7	based	base	VERB
emaj-75	100	8	on	on	ADP
emaj-75	100	9	the	the	DET
emaj-75	100	10	financial	financial	ADJ
emaj-75	100	11	ratios	ratio	NOUN
emaj-75	100	12	of	of	ADP
emaj-75	100	13	firms	firm	NOUN
emaj-75	100	14	announced	announce	VERB
emaj-75	100	15	to	to	ADP
emaj-75	100	16	public	public	NOUN
emaj-75	100	17	.	.	PUNCT
emaj-75	101	1	the	the	DET
emaj-75	101	2	dependent	dependent	ADJ
emaj-75	101	3	variable	variable	NOUN
emaj-75	101	4	of	of	ADP
emaj-75	101	5	this	this	DET
emaj-75	101	6	study	study	NOUN
emaj-75	101	7	is	be	AUX
emaj-75	101	8	"	"	PUNCT
emaj-75	101	9	the	the	DET
emaj-75	101	10	value	value	NOUN
emaj-75	101	11	of	of	ADP
emaj-75	101	12	the	the	DET
emaj-75	101	13	firm	firm	NOUN
emaj-75	101	14	"	"	PUNCT
emaj-75	101	15	which	which	PRON
emaj-75	101	16	is	be	AUX
emaj-75	101	17	represented	represent	VERB
emaj-75	101	18	by	by	ADP
emaj-75	101	19	the	the	DET
emaj-75	101	20	performances	performance	NOUN
emaj-75	101	21	of	of	ADP
emaj-75	101	22	the	the	DET
emaj-75	101	23	companies	company	NOUN
emaj-75	101	24	.	.	PUNCT
emaj-75	102	1	the	the	DET
emaj-75	102	2	performance	performance	NOUN
emaj-75	102	3	was	be	AUX
emaj-75	102	4	measured	measure	VERB
emaj-75	102	5	by	by	ADP
emaj-75	102	6	tobin	tobin	PROPN
emaj-75	102	7	’s	’s	PART
emaj-75	102	8	q	q	NOUN
emaj-75	102	9	=	=	PUNCT
emaj-75	102	10	(	(	PUNCT
emaj-75	102	11	market	market	NOUN
emaj-75	102	12	value	value	NOUN
emaj-75	102	13	/	/	SYM
emaj-75	102	14	book	book	NOUN
emaj-75	102	15	value	value	NOUN
emaj-75	102	16	)	)	PUNCT
emaj-75	102	17	.	.	PUNCT
emaj-75	103	1	in	in	ADP
emaj-75	103	2	order	order	NOUN
emaj-75	103	3	to	to	PART
emaj-75	103	4	assess	assess	VERB
emaj-75	103	5	the	the	DET
emaj-75	103	6	relationship	relationship	NOUN
emaj-75	103	7	between	between	ADP
emaj-75	103	8	corporate	corporate	ADJ
emaj-75	103	9	performance	performance	NOUN
emaj-75	103	10	and	and	CCONJ
emaj-75	103	11	ownership	ownership	NOUN
emaj-75	103	12	structure	structure	NOUN
emaj-75	103	13	,	,	PUNCT
emaj-75	103	14	as	as	ADP
emaj-75	103	15	a	a	DET
emaj-75	103	16	measure	measure	NOUN
emaj-75	103	17	of	of	ADP
emaj-75	103	18	performance	performance	NOUN
emaj-75	103	19	,	,	PUNCT
emaj-75	103	20	craswell	craswell	ADJ
emaj-75	103	21	at	at	ADP
emaj-75	103	22	al	al	PROPN
emaj-75	103	23	.	.	PUNCT
emaj-75	104	1	(	(	PUNCT
emaj-75	104	2	1997	1997	NUM
emaj-75	104	3	)	)	PUNCT
emaj-75	104	4	indicated	indicate	VERB
emaj-75	104	5	that	that	SCONJ
emaj-75	104	6	us	us	PROPN
emaj-75	104	7	researchers	researcher	NOUN
emaj-75	104	8	have	have	AUX
emaj-75	104	9	utilized	utilize	VERB
emaj-75	104	10	tobin	tobin	NOUN
emaj-75	104	11	’s	’s	PART
emaj-75	104	12	q	q	PROPN
emaj-75	104	13	(=	(=	NOUN
emaj-75	104	14	market	market	NOUN
emaj-75	104	15	value	value	NOUN
emaj-75	104	16	/	/	SYM
emaj-75	104	17	book	book	NOUN
emaj-75	104	18	value	value	NOUN
emaj-75	104	19	)	)	PUNCT
emaj-75	104	20	.	.	PUNCT
emaj-75	105	1	the	the	DET
emaj-75	105	2	multivariate	multivariate	NOUN
emaj-75	105	3	regression	regression	NOUN
emaj-75	105	4	method	method	NOUN
emaj-75	105	5	consists	consist	VERB
emaj-75	105	6	of	of	ADP
emaj-75	105	7	different	different	ADJ
emaj-75	105	8	forms	form	NOUN
emaj-75	105	9	and	and	CCONJ
emaj-75	105	10	their	their	PRON
emaj-75	105	11	difference	difference	NOUN
emaj-75	105	12	is	be	AUX
emaj-75	105	13	related	relate	VERB
emaj-75	105	14	to	to	ADP
emaj-75	105	15	selecting	select	VERB
emaj-75	105	16	the	the	DET
emaj-75	105	17	predicting	predict	VERB
emaj-75	105	18	variables	variable	NOUN
emaj-75	105	19	.	.	PUNCT
emaj-75	106	1	for	for	ADP
emaj-75	106	2	determining	determine	VERB
emaj-75	106	3	the	the	DET
emaj-75	106	4	regression	regression	NOUN
emaj-75	106	5	equation	equation	NOUN
emaj-75	106	6	in	in	ADP
emaj-75	106	7	this	this	DET
emaj-75	106	8	article	article	NOUN
emaj-75	106	9	,	,	PUNCT
emaj-75	106	10	the	the	DET
emaj-75	106	11	following	follow	VERB
emaj-75	106	12	formula	formula	NOUN
emaj-75	106	13	was	be	AUX
emaj-75	106	14	extracted	extract	VERB
emaj-75	106	15	:	:	PUNCT
emaj-75	107	1	y	y	PROPN
emaj-75	107	2	=	=	PUNCT
emaj-75	107	3	α	α	PROPN
emaj-75	108	1	+	+	NOUN
emaj-75	108	2	β1χ1	β1χ1	X
emaj-75	109	1	+	+	CCONJ
emaj-75	109	2	β2χ2	β2χ2	PROPN
emaj-75	109	3	+	+	NOUN
emaj-75	109	4	…	…	PUNCT
emaj-75	109	5	+	+	NUM
emaj-75	109	6	βnχn	βnχn	PROPN
emaj-75	109	7	y	y	PROPN
emaj-75	109	8	:	:	PUNCT
emaj-75	109	9	company	company	NOUN
emaj-75	109	10	's	's	PART
emaj-75	109	11	performance	performance	NOUN
emaj-75	109	12	α	α	NOUN
emaj-75	109	13	:	:	PUNCT
emaj-75	109	14	constant	constant	ADJ
emaj-75	109	15	χ1	χ1	NOUN
emaj-75	109	16	,	,	PUNCT
emaj-75	109	17	χ2	χ2	PROPN
emaj-75	109	18	,	,	PUNCT
emaj-75	109	19	…	…	PUNCT
emaj-75	109	20	,	,	PUNCT
emaj-75	109	21	χn	χn	X
emaj-75	109	22	:	:	PUNCT
emaj-75	109	23	independent	independent	ADJ
emaj-75	109	24	variables	variable	NOUN
emaj-75	109	25	β1	β1	PROPN
emaj-75	109	26	,	,	PUNCT
emaj-75	109	27	β2	β2	NOUN
emaj-75	109	28	,	,	PUNCT
emaj-75	109	29	…	…	PUNCT
emaj-75	109	30	,	,	PUNCT
emaj-75	109	31	βn	βn	ADP
emaj-75	109	32	:	:	PUNCT
emaj-75	109	33	coefficient	coefficient	NOUN
emaj-75	109	34	of	of	ADP
emaj-75	109	35	the	the	DET
emaj-75	109	36	achieved	achieve	VERB
emaj-75	109	37	regressions	regression	NOUN
emaj-75	109	38	for	for	ADP
emaj-75	109	39	each	each	DET
emaj-75	109	40	variables	variable	NOUN
emaj-75	109	41	.	.	PUNCT
emaj-75	110	1	the	the	DET
emaj-75	110	2	statistical	statistical	ADJ
emaj-75	110	3	data	datum	NOUN
emaj-75	110	4	could	could	AUX
emaj-75	110	5	be	be	AUX
emaj-75	110	6	managed	manage	VERB
emaj-75	110	7	via	via	ADP
emaj-75	110	8	three	three	NUM
emaj-75	110	9	ways	way	NOUN
emaj-75	110	10	:	:	PUNCT
emaj-75	110	11	cross	cross	NOUN
emaj-75	110	12	sectional	sectional	PROPN
emaj-75	110	13	,	,	PUNCT
emaj-75	110	14	time	time	NOUN
emaj-75	110	15	series	series	NOUN
emaj-75	110	16	and	and	CCONJ
emaj-75	110	17	panel	panel	NOUN
emaj-75	110	18	data	datum	NOUN
emaj-75	110	19	approach	approach	NOUN
emaj-75	110	20	.	.	PUNCT
emaj-75	111	1	with	with	SCONJ
emaj-75	111	2	the	the	DET
emaj-75	111	3	panel	panel	NOUN
emaj-75	111	4	data	datum	NOUN
emaj-75	111	5	method	method	NOUN
emaj-75	111	6	researchers	researcher	NOUN
emaj-75	111	7	can	can	AUX
emaj-75	111	8	do	do	AUX
emaj-75	111	9	cross	cross	VERB
emaj-75	111	10	sectional	sectional	ADJ
emaj-75	111	11	observations	observation	NOUN
emaj-75	111	12	within	within	ADP
emaj-75	111	13	different	different	ADJ
emaj-75	111	14	time	time	NOUN
emaj-75	111	15	periods	period	NOUN
emaj-75	111	16	.	.	PUNCT
emaj-75	112	1	in	in	ADP
emaj-75	112	2	this	this	DET
emaj-75	112	3	study	study	NOUN
emaj-75	112	4	,	,	PUNCT
emaj-75	112	5	the	the	DET
emaj-75	112	6	panel	panel	NOUN
emaj-75	112	7	method	method	NOUN
emaj-75	112	8	(	(	PUNCT
emaj-75	112	9	brooks	brooks	PROPN
emaj-75	112	10	,	,	PUNCT
emaj-75	112	11	2008	2008	NUM
emaj-75	112	12	)	)	PUNCT
emaj-75	112	13	was	be	AUX
emaj-75	112	14	exerted	exert	VERB
emaj-75	112	15	.	.	PUNCT
emaj-75	113	1	by	by	ADP
emaj-75	113	2	employing	employ	VERB
emaj-75	113	3	panel	panel	NOUN
emaj-75	113	4	data	datum	NOUN
emaj-75	113	5	,	,	PUNCT
emaj-75	113	6	a	a	DET
emaj-75	113	7	group	group	NOUN
emaj-75	113	8	of	of	ADP
emaj-75	113	9	data	datum	NOUN
emaj-75	113	10	which	which	PRON
emaj-75	113	11	cover	cover	VERB
emaj-75	113	12	a	a	DET
emaj-75	113	13	great	great	ADJ
emaj-75	113	14	number	number	NOUN
emaj-75	113	15	of	of	ADP
emaj-75	113	16	cross	cross	ADJ
emaj-75	113	17	sectional	sectional	ADJ
emaj-75	113	18	variables	variable	NOUN
emaj-75	113	19	(	(	PUNCT
emaj-75	113	20	n	n	CCONJ
emaj-75	113	21	)	)	PUNCT
emaj-75	113	22	that	that	PRON
emaj-75	113	23	is	be	AUX
emaj-75	113	24	obtained	obtain	VERB
emaj-75	113	25	during	during	ADP
emaj-75	113	26	a	a	DET
emaj-75	113	27	time	time	NOUN
emaj-75	113	28	period	period	NOUN
emaj-75	113	29	(	(	PUNCT
emaj-75	113	30	t	t	NOUN
emaj-75	113	31	)	)	PUNCT
emaj-75	113	32	is	be	AUX
emaj-75	113	33	collected	collect	VERB
emaj-75	113	34	.	.	PUNCT
emaj-75	114	1	the	the	DET
emaj-75	114	2	number	number	NOUN
emaj-75	114	3	of	of	ADP
emaj-75	114	4	observations	observation	NOUN
emaj-75	114	5	(	(	PUNCT
emaj-75	114	6	n×t	n×t	PROPN
emaj-75	114	7	)	)	PUNCT
emaj-75	114	8	could	could	AUX
emaj-75	114	9	be	be	AUX
emaj-75	114	10	estimated	estimate	VERB
emaj-75	114	11	by	by	ADP
emaj-75	114	12	different	different	ADJ
emaj-75	114	13	models	model	NOUN
emaj-75	114	14	.	.	PUNCT
emaj-75	115	1	efficient	efficient	ADJ
emaj-75	115	2	estimations	estimation	NOUN
emaj-75	115	3	could	could	AUX
emaj-75	115	4	be	be	AUX
emaj-75	115	5	determined	determine	VERB
emaj-75	115	6	by	by	ADP
emaj-75	115	7	exerting	exert	VERB
emaj-75	115	8	the	the	DET
emaj-75	115	9	panel	panel	NOUN
emaj-75	115	10	data	datum	NOUN
emaj-75	115	11	model	model	NOUN
emaj-75	115	12	.	.	PUNCT
emaj-75	116	1	if	if	SCONJ
emaj-75	116	2	the	the	DET
emaj-75	116	3	immeasurable	immeasurable	ADJ
emaj-75	116	4	variables	variable	NOUN
emaj-75	116	5	are	be	AUX
emaj-75	116	6	controlled	control	VERB
emaj-75	116	7	by	by	ADP
emaj-75	116	8	exerting	exert	VERB
emaj-75	116	9	ordinary	ordinary	ADJ
emaj-75	116	10	least	least	ADJ
emaj-75	116	11	squares	square	NOUN
emaj-75	116	12	(	(	PUNCT
emaj-75	116	13	ols	ol	NOUN
emaj-75	116	14	)	)	PUNCT
emaj-75	116	15	or	or	CCONJ
emaj-75	116	16	generalized	generalize	VERB
emaj-75	116	17	least	least	ADJ
emaj-75	116	18	squares	square	NOUN
emaj-75	116	19	(	(	PUNCT
emaj-75	116	20	gls	gls	PROPN
emaj-75	116	21	)	)	PUNCT
emaj-75	116	22	,	,	PUNCT
emaj-75	116	23	then	then	ADV
emaj-75	116	24	the	the	DET
emaj-75	116	25	variables	variable	NOUN
emaj-75	116	26	have	have	VERB
emaj-75	116	27	efficient	efficient	ADJ
emaj-75	116	28	estimations	estimation	NOUN
emaj-75	116	29	.	.	PUNCT
emaj-75	117	1	one	one	NUM
emaj-75	117	2	way	way	NOUN
emaj-75	117	3	for	for	ADP
emaj-75	117	4	controlling	controlling	NOUN
emaj-75	117	5	is	be	AUX
emaj-75	117	6	expending	expend	VERB
emaj-75	117	7	the	the	DET
emaj-75	117	8	fixed	fix	VERB
emaj-75	117	9	effects	effect	NOUN
emaj-75	117	10	model	model	NOUN
emaj-75	117	11	.	.	PUNCT
emaj-75	118	1	in	in	ADP
emaj-75	118	2	the	the	DET
emaj-75	118	3	fixed	fix	VERB
emaj-75	118	4	effects	effect	NOUN
emaj-75	118	5	model	model	NOUN
emaj-75	118	6	,	,	PUNCT
emaj-75	118	7	the	the	DET
emaj-75	118	8	unobserved	unobserved	ADJ
emaj-75	118	9	effects	effect	NOUN
emaj-75	118	10	will	will	AUX
emaj-75	118	11	enter	enter	VERB
emaj-75	118	12	into	into	ADP
emaj-75	118	13	the	the	DET
emaj-75	118	14	fixed	fix	VERB
emaj-75	118	15	statement	statement	NOUN
emaj-75	118	16	of	of	ADP
emaj-75	118	17	the	the	DET
emaj-75	118	18	regression	regression	NOUN
emaj-75	118	19	model	model	NOUN
emaj-75	118	20	.	.	PUNCT
emaj-75	119	1	with	with	ADP
emaj-75	119	2	different	different	ADJ
emaj-75	119	3	tests	test	NOUN
emaj-75	119	4	such	such	ADJ
emaj-75	119	5	as	as	ADP
emaj-75	119	6	hausman	hausman	NOUN
emaj-75	119	7	or	or	CCONJ
emaj-75	119	8	the	the	DET
emaj-75	119	9	breusch	breusch	ADV
emaj-75	119	10	-	-	PUNCT
emaj-75	119	11	pagan	pagan	ADJ
emaj-75	119	12	lagrange	lagrange	NOUN
emaj-75	119	13	multiplier	multiplier	ADV
emaj-75	119	14	(	(	PUNCT
emaj-75	119	15	lm	lm	INTJ
emaj-75	119	16	)	)	PUNCT
emaj-75	119	17	test	test	NOUN
emaj-75	119	18	,	,	PUNCT
emaj-75	119	19	one	one	PRON
emaj-75	119	20	could	could	AUX
emaj-75	119	21	select	select	VERB
emaj-75	119	22	suitable	suitable	ADJ
emaj-75	119	23	estimates	estimate	NOUN
emaj-75	119	24	.	.	PUNCT
emaj-75	120	1	after	after	ADP
emaj-75	120	2	selecting	select	VERB
emaj-75	120	3	a	a	DET
emaj-75	120	4	suitable	suitable	ADJ
emaj-75	120	5	model	model	NOUN
emaj-75	120	6	,	,	PUNCT
emaj-75	120	7	the	the	DET
emaj-75	120	8	continuity	continuity	NOUN
emaj-75	120	9	of	of	ADP
emaj-75	120	10	the	the	DET
emaj-75	120	11	time	time	NOUN
emaj-75	120	12	series	series	NOUN
emaj-75	120	13	and	and	CCONJ
emaj-75	120	14	the	the	DET
emaj-75	120	15	reliability	reliability	NOUN
emaj-75	120	16	of	of	ADP
emaj-75	120	17	the	the	DET
emaj-75	120	18	regression	regression	NOUN
emaj-75	120	19	should	should	AUX
emaj-75	120	20	be	be	AUX
emaj-75	120	21	followed	follow	VERB
emaj-75	120	22	.	.	PUNCT
emaj-75	121	1	the	the	DET
emaj-75	121	2	population	population	NOUN
emaj-75	121	3	of	of	ADP
emaj-75	121	4	this	this	DET
emaj-75	121	5	study	study	NOUN
emaj-75	121	6	includes	include	VERB
emaj-75	121	7	nonfinancial	nonfinancial	ADJ
emaj-75	121	8	turkish	turkish	ADJ
emaj-75	121	9	bist	bist	NOUN
emaj-75	121	10	30	30	NUM
emaj-75	121	11	firms	firm	NOUN
emaj-75	121	12	from	from	ADP
emaj-75	121	13	2008	2008	NUM
emaj-75	121	14	to	to	ADP
emaj-75	121	15	2013	2013	NUM
emaj-75	121	16	(	(	PUNCT
emaj-75	121	17	6	6	NUM
emaj-75	121	18	years	year	NOUN
emaj-75	121	19	)	)	PUNCT
emaj-75	121	20	period	period	NOUN
emaj-75	121	21	.	.	PUNCT
emaj-75	122	1	turkish	turkish	ADJ
emaj-75	122	2	bist	bist	NOUN
emaj-75	122	3	30	30	NUM
emaj-75	122	4	market	market	NOUN
emaj-75	122	5	is	be	AUX
emaj-75	122	6	the	the	DET
emaj-75	122	7	one	one	NUM
emaj-75	122	8	of	of	ADP
emaj-75	122	9	the	the	DET
emaj-75	122	10	world	world	NOUN
emaj-75	122	11	’s	’s	PART
emaj-75	122	12	best	well	ADV
emaj-75	122	13	performing	perform	VERB
emaj-75	122	14	stock	stock	NOUN
emaj-75	122	15	exchanges	exchange	NOUN
emaj-75	122	16	and	and	CCONJ
emaj-75	122	17	has	have	AUX
emaj-75	122	18	been	be	AUX
emaj-75	122	19	categorized	categorize	VERB
emaj-75	122	20	as	as	ADP
emaj-75	122	21	an	an	DET
emaj-75	122	22	emerging	emerge	VERB
emaj-75	122	23	market	market	NOUN
emaj-75	122	24	.	.	PUNCT
emaj-75	123	1	reliability	reliability	NOUN
emaj-75	123	2	of	of	ADP
emaj-75	123	3	the	the	DET
emaj-75	123	4	continuity	continuity	NOUN
emaj-75	123	5	of	of	ADP
emaj-75	123	6	the	the	DET
emaj-75	123	7	explanatory	explanatory	ADJ
emaj-75	123	8	variables	variable	NOUN
emaj-75	123	9	as	as	ADV
emaj-75	123	10	well	well	ADV
emaj-75	123	11	as	as	ADP
emaj-75	123	12	control	control	NOUN
emaj-75	123	13	variables	variable	NOUN
emaj-75	123	14	were	be	AUX
emaj-75	123	15	studied	study	VERB
emaj-75	123	16	.	.	PUNCT
emaj-75	124	1	it	it	PRON
emaj-75	124	2	is	be	AUX
emaj-75	124	3	observed	observe	VERB
emaj-75	124	4	that	that	SCONJ
emaj-75	124	5	studied	study	VERB
emaj-75	124	6	variables	variable	NOUN
emaj-75	124	7	’	'	PUNCT
emaj-75	124	8	mean	mean	NOUN
emaj-75	124	9	and	and	CCONJ
emaj-75	124	10	variances	variance	NOUN
emaj-75	124	11	during	during	ADP
emaj-75	124	12	the	the	DET
emaj-75	124	13	time	time	NOUN
emaj-75	124	14	period	period	NOUN
emaj-75	124	15	and	and	CCONJ
emaj-75	124	16	the	the	DET
emaj-75	124	17	covariance	covariance	NOUN
emaj-75	124	18	of	of	ADP
emaj-75	124	19	the	the	DET
emaj-75	124	20	variables	variable	NOUN
emaj-75	124	21	were	be	AUX
emaj-75	124	22	stable	stable	ADJ
emaj-75	124	23	.	.	PUNCT
emaj-75	125	1	as	as	ADP
emaj-75	125	2	a	a	DET
emaj-75	125	3	result	result	NOUN
emaj-75	125	4	of	of	ADP
emaj-75	125	5	exerting	exert	VERB
emaj-75	125	6	these	these	DET
emaj-75	125	7	variables	variable	NOUN
emaj-75	125	8	in	in	ADP
emaj-75	125	9	this	this	DET
emaj-75	125	10	model	model	NOUN
emaj-75	125	11	,	,	PUNCT
emaj-75	125	12	we	we	PRON
emaj-75	125	13	did	do	AUX
emaj-75	125	14	not	not	PART
emaj-75	125	15	have	have	VERB
emaj-75	125	16	a	a	DET
emaj-75	125	17	spurious	spurious	ADJ
emaj-75	125	18	regression	regression	NOUN
emaj-75	125	19	.	.	PUNCT
emaj-75	126	1	we	we	PRON
emaj-75	126	2	use	use	VERB
emaj-75	126	3	both	both	DET
emaj-75	126	4	time	time	NOUN
emaj-75	126	5	series	series	NOUN
emaj-75	126	6	and	and	CCONJ
emaj-75	126	7	cross	cross	VERB
emaj-75	126	8	sectional	sectional	ADJ
emaj-75	126	9	elements	element	NOUN
emaj-75	126	10	.	.	PUNCT
emaj-75	127	1	panel	panel	NOUN
emaj-75	127	2	data	datum	NOUN
emaj-75	127	3	(	(	PUNCT
emaj-75	127	4	or	or	CCONJ
emaj-75	127	5	longitudinal	longitudinal	ADJ
emaj-75	127	6	data	datum	NOUN
emaj-75	127	7	)	)	PUNCT
emaj-75	127	8	keeps	keep	VERB
emaj-75	127	9	the	the	DET
emaj-75	127	10	same	same	ADJ
emaj-75	127	11	individuals	individual	NOUN
emaj-75	127	12	(	(	PUNCT
emaj-75	127	13	firms	firm	NOUN
emaj-75	127	14	)	)	PUNCT
emaj-75	127	15	entities	entity	NOUN
emaj-75	127	16	.	.	PUNCT
emaj-75	128	1	volume	volume	NOUN
emaj-75	128	2	5	5	NUM
emaj-75	128	3	no	no	DET
emaj-75	128	4	2	2	NUM
emaj-75	128	5	(	(	PUNCT
emaj-75	128	6	2015	2015	NUM
emaj-75	128	7	)	)	PUNCT
emaj-75	128	8	|	|	ADV
emaj-75	128	9	issn	issn	VERB
emaj-75	128	10	2158	2158	NUM
emaj-75	128	11	-	-	SYM
emaj-75	128	12	8708	8708	NUM
emaj-75	128	13	(	(	PUNCT
emaj-75	128	14	online	online	NOUN
emaj-75	128	15	)	)	PUNCT
emaj-75	128	16	|	|	ADV
emaj-75	128	17	doi	doi	X
emaj-75	128	18	10.5195	10.5195	NUM
emaj-75	128	19	/	/	SYM
emaj-75	128	20	emaj.2015.75	emaj.2015.75	NOUN
emaj-75	129	1	|	|	NOUN
emaj-75	129	2	http://emaj.pitt.edu	http://emaj.pitt.edu	PROPN
emaj-75	129	3	hicabi	hicabi	NOUN
emaj-75	129	4	ersoy	ersoy	NOUN
emaj-75	129	5	,	,	PUNCT
emaj-75	129	6	ayben	ayben	PROPN
emaj-75	129	7	koy	koy	VERB
emaj-75	129	8	emerging	emerge	VERB
emaj-75	129	9	markets	market	NOUN
emaj-75	129	10	journal	journal	NOUN
emaj-75	130	1	|	|	ADV
emaj-75	130	2	p	p	NOUN
emaj-75	130	3	a	a	DET
emaj-75	130	4	g	g	NOUN
emaj-75	130	5	e	e	NOUN
emaj-75	130	6	|13	|13	NUM
emaj-75	130	7	yit	yit	NOUN
emaj-75	130	8	=	=	SYM
emaj-75	130	9	α	α	PROPN
emaj-75	130	10	+	+	X
emaj-75	130	11	βχit	βχit	ADJ
emaj-75	130	12	+	+	NOUN
emaj-75	130	13	uit	uit	ADJ
emaj-75	130	14	yit=	yit=	PROPN
emaj-75	130	15	dependent	dependent	ADJ
emaj-75	130	16	variable	variable	NOUN
emaj-75	130	17	.	.	PUNCT
emaj-75	131	1	α	α	NOUN
emaj-75	131	2	=	=	NOUN
emaj-75	131	3	intercept	intercept	NOUN
emaj-75	131	4	term	term	NOUN
emaj-75	131	5	.	.	PUNCT
emaj-75	132	1	β	β	X
emaj-75	132	2	=	=	PUNCT
emaj-75	132	3	kx1	kx1	PROPN
emaj-75	132	4	vector	vector	NOUN
emaj-75	132	5	of	of	ADP
emaj-75	132	6	parameters	parameter	NOUN
emaj-75	132	7	to	to	PART
emaj-75	132	8	be	be	AUX
emaj-75	132	9	estimated	estimate	VERB
emaj-75	132	10	on	on	ADP
emaj-75	132	11	the	the	DET
emaj-75	132	12	explanatory	explanatory	ADJ
emaj-75	132	13	variables	variable	NOUN
emaj-75	132	14	.	.	PUNCT
emaj-75	133	1	χit	χit	VERB
emaj-75	133	2	=	=	PROPN
emaj-75	133	3	1xk	1xk	ADJ
emaj-75	133	4	vector	vector	NOUN
emaj-75	133	5	of	of	ADP
emaj-75	133	6	observations	observation	NOUN
emaj-75	133	7	on	on	ADP
emaj-75	133	8	the	the	DET
emaj-75	133	9	explanatory	explanatory	ADJ
emaj-75	133	10	variables	variable	NOUN
emaj-75	133	11	.	.	PUNCT
emaj-75	134	1	t	t	NOUN
emaj-75	134	2	=	=	SYM
emaj-75	134	3	1	1	NUM
emaj-75	134	4	,	,	PUNCT
emaj-75	134	5	…	…	PUNCT
emaj-75	134	6	,	,	PUNCT
emaj-75	134	7	t	t	PROPN
emaj-75	134	8	(	(	PUNCT
emaj-75	134	9	term	term	NOUN
emaj-75	134	10	)	)	PUNCT
emaj-75	134	11	i=	i=	PROPN
emaj-75	134	12	1	1	NUM
emaj-75	134	13	,	,	PUNCT
emaj-75	134	14	…	…	PUNCT
emaj-75	134	15	,	,	PUNCT
emaj-75	134	16	n	n	CCONJ
emaj-75	134	17	(	(	PUNCT
emaj-75	134	18	firm	firm	NOUN
emaj-75	134	19	)	)	PUNCT
emaj-75	134	20	the	the	DET
emaj-75	134	21	applicability	applicability	NOUN
emaj-75	134	22	of	of	ADP
emaj-75	134	23	this	this	DET
emaj-75	134	24	technique	technique	NOUN
emaj-75	134	25	is	be	AUX
emaj-75	134	26	limited	limited	ADJ
emaj-75	134	27	.	.	PUNCT
emaj-75	135	1	it	it	PRON
emaj-75	135	2	can	can	AUX
emaj-75	135	3	be	be	AUX
emaj-75	135	4	employed	employ	VERB
emaj-75	135	5	only	only	ADV
emaj-75	135	6	when	when	SCONJ
emaj-75	135	7	the	the	DET
emaj-75	135	8	number	number	NOUN
emaj-75	135	9	of	of	ADP
emaj-75	135	10	time	time	NOUN
emaj-75	135	11	series	series	PROPN
emaj-75	135	12	observations	observation	NOUN
emaj-75	135	13	,	,	PUNCT
emaj-75	135	14	t	t	PROPN
emaj-75	135	15	,	,	PUNCT
emaj-75	135	16	per	per	ADP
emaj-75	135	17	cross	cross	PROPN
emaj-75	135	18	sectional	sectional	ADJ
emaj-75	135	19	unit	unit	NOUN
emaj-75	135	20	,	,	PUNCT
emaj-75	135	21	i	i	PRON
emaj-75	135	22	,	,	PUNCT
emaj-75	135	23	is	be	AUX
emaj-75	135	24	at	at	ADV
emaj-75	135	25	least	least	ADJ
emaj-75	135	26	as	as	ADV
emaj-75	135	27	large	large	ADJ
emaj-75	135	28	as	as	ADP
emaj-75	135	29	the	the	DET
emaj-75	135	30	total	total	ADJ
emaj-75	135	31	number	number	NOUN
emaj-75	135	32	of	of	ADP
emaj-75	135	33	such	such	ADJ
emaj-75	135	34	unit	unit	NOUN
emaj-75	135	35	,	,	PUNCT
emaj-75	135	36	n.	n.	VERB
emaj-75	135	37	the	the	DET
emaj-75	135	38	simplest	simple	ADJ
emaj-75	135	39	types	type	NOUN
emaj-75	135	40	of	of	ADP
emaj-75	135	41	fixed	fix	VERB
emaj-75	135	42	effects	effect	NOUN
emaj-75	135	43	models	model	NOUN
emaj-75	135	44	allow	allow	VERB
emaj-75	135	45	the	the	DET
emaj-75	135	46	intercept	intercept	NOUN
emaj-75	135	47	in	in	ADP
emaj-75	135	48	the	the	DET
emaj-75	135	49	regression	regression	NOUN
emaj-75	135	50	model	model	NOUN
emaj-75	135	51	to	to	PART
emaj-75	135	52	differ	differ	VERB
emaj-75	135	53	cross	cross	ADJ
emaj-75	135	54	-	-	ADJ
emaj-75	135	55	sectionally	sectionally	ADV
emaj-75	135	56	but	but	CCONJ
emaj-75	135	57	not	not	PART
emaj-75	135	58	over	over	ADP
emaj-75	135	59	time	time	NOUN
emaj-75	135	60	.	.	PUNCT
emaj-75	136	1	yit	yit	NOUN
emaj-75	136	2	=	=	SYM
emaj-75	136	3	α	α	PROPN
emaj-75	136	4	+	+	X
emaj-75	136	5	βχit	βχit	X
emaj-75	136	6	+	+	CCONJ
emaj-75	136	7	μi	μi	NUM
emaj-75	137	1	+	+	CCONJ
emaj-75	137	2	υit	υit	DET
emaj-75	137	3	uit=	uit=	PROPN
emaj-75	137	4	μi	μi	NUM
emaj-75	138	1	+	+	CCONJ
emaj-75	138	2	υit	υit	ADV
emaj-75	138	3	we	we	PRON
emaj-75	138	4	can	can	AUX
emaj-75	138	5	think	think	VERB
emaj-75	138	6	of	of	ADP
emaj-75	138	7	μi	μi	PRON
emaj-75	138	8	as	as	ADP
emaj-75	138	9	encapsulating	encapsulate	VERB
emaj-75	138	10	all	all	PRON
emaj-75	138	11	of	of	ADP
emaj-75	138	12	the	the	DET
emaj-75	138	13	variables	variable	NOUN
emaj-75	138	14	that	that	PRON
emaj-75	138	15	affect	affect	VERB
emaj-75	138	16	yi	yi	PROPN
emaj-75	138	17	tcrosssectionally	tcrosssectionally	ADV
emaj-75	138	18	but	but	CCONJ
emaj-75	138	19	do	do	AUX
emaj-75	138	20	not	not	PART
emaj-75	138	21	vary	vary	VERB
emaj-75	138	22	over	over	ADP
emaj-75	138	23	time	time	NOUN
emaj-75	138	24	-	-	PUNCT
emaj-75	138	25	for	for	ADP
emaj-75	138	26	example	example	NOUN
emaj-75	138	27	,	,	PUNCT
emaj-75	138	28	the	the	DET
emaj-75	138	29	sector	sector	NOUN
emaj-75	138	30	that	that	PRON
emaj-75	138	31	a	a	DET
emaj-75	138	32	firm	firm	NOUN
emaj-75	138	33	operates	operate	VERB
emaj-75	138	34	in	in	ADP
emaj-75	138	35	,	,	PUNCT
emaj-75	138	36	a	a	DET
emaj-75	138	37	person	person	NOUN
emaj-75	138	38	’s	’s	PART
emaj-75	138	39	gender	gender	NOUN
emaj-75	138	40	,	,	PUNCT
emaj-75	138	41	or	or	CCONJ
emaj-75	138	42	the	the	DET
emaj-75	138	43	country	country	NOUN
emaj-75	138	44	where	where	SCONJ
emaj-75	138	45	a	a	DET
emaj-75	138	46	bank	bank	NOUN
emaj-75	138	47	had	have	VERB
emaj-75	138	48	its	its	PRON
emaj-75	138	49	headquarters	headquarters	NOUN
emaj-75	138	50	,	,	PUNCT
emaj-75	138	51	and	and	CCONJ
emaj-75	138	52	etc	etc	X
emaj-75	138	53	.	.	X
emaj-75	139	1	this	this	DET
emaj-75	139	2	model	model	NOUN
emaj-75	139	3	could	could	AUX
emaj-75	139	4	be	be	AUX
emaj-75	139	5	estimated	estimate	VERB
emaj-75	139	6	using	use	VERB
emaj-75	139	7	dummy	dummy	ADJ
emaj-75	139	8	variables	variable	NOUN
emaj-75	139	9	,	,	PUNCT
emaj-75	139	10	which	which	PRON
emaj-75	139	11	would	would	AUX
emaj-75	139	12	be	be	AUX
emaj-75	139	13	termed	term	VERB
emaj-75	139	14	the	the	DET
emaj-75	139	15	least	least	ADJ
emaj-75	139	16	squares	square	NOUN
emaj-75	139	17	dummy	dummy	ADJ
emaj-75	139	18	variable	variable	NOUN
emaj-75	139	19	(	(	PUNCT
emaj-75	139	20	lsdv	lsdv	NOUN
emaj-75	139	21	)	)	PUNCT
emaj-75	139	22	approach	approach	NOUN
emaj-75	139	23	(	(	PUNCT
emaj-75	139	24	brooks	brooks	PROPN
emaj-75	139	25	,	,	PUNCT
emaj-75	139	26	2008	2008	NUM
emaj-75	139	27	)	)	PUNCT
emaj-75	139	28	.	.	PUNCT
emaj-75	140	1	the	the	DET
emaj-75	140	2	fixed	fix	VERB
emaj-75	140	3	effects	effect	NOUN
emaj-75	140	4	approach	approach	NOUN
emaj-75	140	5	is	be	AUX
emaj-75	140	6	a	a	DET
emaj-75	140	7	sensible	sensible	ADJ
emaj-75	140	8	one	one	NOUN
emaj-75	140	9	,	,	PUNCT
emaj-75	140	10	given	give	VERB
emaj-75	140	11	the	the	DET
emaj-75	140	12	data	datum	NOUN
emaj-75	140	13	analyzed	analyze	VERB
emaj-75	140	14	here	here	ADV
emaj-75	140	15	,	,	PUNCT
emaj-75	140	16	since	since	SCONJ
emaj-75	140	17	there	there	PRON
emaj-75	140	18	is	be	VERB
emaj-75	140	19	an	an	DET
emaj-75	140	20	unusually	unusually	ADV
emaj-75	140	21	large	large	ADJ
emaj-75	140	22	number	number	NOUN
emaj-75	140	23	of	of	ADP
emaj-75	140	24	years	year	NOUN
emaj-75	140	25	compared	compare	VERB
emaj-75	140	26	with	with	ADP
emaj-75	140	27	the	the	DET
emaj-75	140	28	number	number	NOUN
emaj-75	140	29	of	of	ADP
emaj-75	140	30	firms	firm	NOUN
emaj-75	140	31	(	(	PUNCT
emaj-75	140	32	19	19	NUM
emaj-75	140	33	)	)	PUNCT
emaj-75	140	34	,	,	PUNCT
emaj-75	140	35	resulting	result	VERB
emaj-75	140	36	in	in	ADP
emaj-75	140	37	a	a	DET
emaj-75	140	38	total	total	NOUN
emaj-75	140	39	of	of	ADP
emaj-75	140	40	(	(	PUNCT
emaj-75	140	41	114	114	NUM
emaj-75	140	42	=	=	SYM
emaj-75	140	43	19	19	NUM
emaj-75	140	44	firm	firm	NOUN
emaj-75	140	45	x	x	NOUN
emaj-75	140	46	6	6	NUM
emaj-75	140	47	years	year	NOUN
emaj-75	140	48	)	)	PUNCT
emaj-75	140	49	firm	firm	ADJ
emaj-75	140	50	years	year	NOUN
emaj-75	140	51	observation	observation	NOUN
emaj-75	140	52	.	.	PUNCT
emaj-75	141	1	the	the	DET
emaj-75	141	2	data	datum	NOUN
emaj-75	141	3	employed	employ	VERB
emaj-75	141	4	in	in	ADP
emaj-75	141	5	the	the	DET
emaj-75	141	6	study	study	NOUN
emaj-75	141	7	are	be	AUX
emaj-75	141	8	obtained	obtain	VERB
emaj-75	141	9	from	from	ADP
emaj-75	141	10	firms	firm	NOUN
emaj-75	141	11	’	'	PUNCT
emaj-75	141	12	annual	annual	ADJ
emaj-75	141	13	reports	report	NOUN
emaj-75	141	14	and	and	CCONJ
emaj-75	141	15	bist	bist	ADJ
emaj-75	141	16	30	30	NUM
emaj-75	141	17	index	index	NOUN
emaj-75	141	18	statistics	statistic	NOUN
emaj-75	141	19	.	.	PUNCT
emaj-75	142	1	the	the	DET
emaj-75	142	2	analysis	analysis	NOUN
emaj-75	142	3	is	be	AUX
emaj-75	142	4	conducted	conduct	VERB
emaj-75	142	5	for	for	ADP
emaj-75	142	6	the	the	DET
emaj-75	142	7	whole	whole	ADJ
emaj-75	142	8	sample	sample	NOUN
emaj-75	142	9	period	period	NOUN
emaj-75	142	10	of	of	ADP
emaj-75	142	11	2006	2006	NUM
emaj-75	142	12	-	-	SYM
emaj-75	142	13	2013	2013	NUM
emaj-75	142	14	.	.	PUNCT
emaj-75	143	1	the	the	DET
emaj-75	143	2	model	model	NOUN
emaj-75	143	3	equation	equation	NOUN
emaj-75	143	4	can	can	AUX
emaj-75	143	5	be	be	AUX
emaj-75	143	6	defined	define	VERB
emaj-75	143	7	as	as	ADP
emaj-75	143	8	:	:	PUNCT
emaj-75	143	9	perfit	perfit	NOUN
emaj-75	143	10	=	=	SYM
emaj-75	143	11	α0	α0	ADJ
emaj-75	143	12	+	+	CCONJ
emaj-75	143	13	α1ownstrit	α1ownstrit	NOUN
emaj-75	143	14	+	+	CCONJ
emaj-75	143	15	β1ebitsls	β1ebitsls	NOUN
emaj-75	143	16	+	+	CCONJ
emaj-75	143	17	β2ebitcpt	β2ebitcpt	NOUN
emaj-75	143	18	β4liqr	β4liqr	X
emaj-75	143	19	+	+	CCONJ
emaj-75	143	20	β5dbtr	β5dbtr	NOUN
emaj-75	143	21	+	+	CCONJ
emaj-75	143	22	β6eqttotassts	β6eqttotasst	NOUN
emaj-75	143	23	+	+	CCONJ
emaj-75	143	24	β7ebittotassts	β7ebittotasst	NOUN
emaj-75	143	25	+	+	CCONJ
emaj-75	143	26	β7ebiteqt	β7ebiteqt	NOUN
emaj-75	143	27	+	+	CCONJ
emaj-75	143	28	γ1growth	γ1growth	NOUN
emaj-75	143	29	+	+	CCONJ
emaj-75	143	30	μi	μi	PROPN
emaj-75	144	1	+	+	CCONJ
emaj-75	144	2	υit	υit	VERB
emaj-75	144	3	where	where	SCONJ
emaj-75	144	4	perfit	perfit	NOUN
emaj-75	144	5	:	:	PUNCT
emaj-75	144	6	corporate	corporate	ADJ
emaj-75	144	7	performance	performance	NOUN
emaj-75	144	8	=	=	PROPN
emaj-75	144	9	tobin	tobin	NOUN
emaj-75	144	10	’s	’s	PART
emaj-75	144	11	q	q	NOUN
emaj-75	144	12	=	=	NOUN
emaj-75	144	13	market	market	NOUN
emaj-75	144	14	value	value	NOUN
emaj-75	144	15	/	/	SYM
emaj-75	144	16	book	book	NOUN
emaj-75	144	17	value	value	NOUN
emaj-75	144	18	,	,	PUNCT
emaj-75	144	19	α	α	NOUN
emaj-75	144	20	:	:	PUNCT
emaj-75	144	21	intercept	intercept	NOUN
emaj-75	144	22	term	term	NOUN
emaj-75	144	23	,	,	PUNCT
emaj-75	144	24	β	β	NOUN
emaj-75	144	25	:	:	PUNCT
emaj-75	144	26	k	k	NOUN
emaj-75	144	27	x	x	SYM
emaj-75	144	28	1	1	NUM
emaj-75	144	29	vector	vector	NOUN
emaj-75	144	30	of	of	ADP
emaj-75	144	31	observations	observation	NOUN
emaj-75	144	32	on	on	ADP
emaj-75	144	33	the	the	DET
emaj-75	144	34	explanatory	explanatory	ADJ
emaj-75	144	35	variables	variable	NOUN
emaj-75	144	36	,	,	PUNCT
emaj-75	144	37	t	t	NOUN
emaj-75	144	38	=	=	SYM
emaj-75	144	39	1	1	NUM
emaj-75	144	40	,	,	PUNCT
emaj-75	144	41	…	…	NUM
emaj-75	144	42	,	,	PUNCT
emaj-75	144	43	t	t	PROPN
emaj-75	144	44	;	;	PUNCT
emaj-75	144	45	i=	i=	PROPN
emaj-75	144	46	1	1	NUM
emaj-75	144	47	,	,	PUNCT
emaj-75	144	48	…	…	PUNCT
emaj-75	144	49	,	,	PUNCT
emaj-75	144	50	n.	n.	NOUN
emaj-75	144	51	in	in	ADP
emaj-75	144	52	order	order	NOUN
emaj-75	144	53	to	to	PART
emaj-75	144	54	control	control	VERB
emaj-75	144	55	the	the	DET
emaj-75	144	56	effects	effect	NOUN
emaj-75	144	57	of	of	ADP
emaj-75	144	58	extraneous	extraneous	ADJ
emaj-75	144	59	variables	variable	NOUN
emaj-75	144	60	on	on	ADP
emaj-75	144	61	the	the	DET
emaj-75	144	62	performance	performance	NOUN
emaj-75	144	63	of	of	ADP
emaj-75	144	64	the	the	DET
emaj-75	144	65	companies	company	NOUN
emaj-75	144	66	,	,	PUNCT
emaj-75	144	67	seven	seven	NUM
emaj-75	144	68	control	control	NOUN
emaj-75	144	69	variables	variable	NOUN
emaj-75	144	70	were	be	AUX
emaj-75	144	71	also	also	ADV
emaj-75	144	72	selected	select	VERB
emaj-75	144	73	as	as	SCONJ
emaj-75	144	74	follows	follow	VERB
emaj-75	144	75	:	:	PUNCT
emaj-75	144	76	1	1	X
emaj-75	144	77	.	.	X
emaj-75	144	78	ebitsls	ebitsls	NOUN
emaj-75	144	79	:	:	PUNCT
emaj-75	144	80	ebit	ebit	NOUN
emaj-75	144	81	/	/	SYM
emaj-75	144	82	sales	sale	NOUN
emaj-75	144	83	ratio	ratio	NOUN
emaj-75	144	84	(	(	PUNCT
emaj-75	144	85	ebittosales	ebittosale	NOUN
emaj-75	144	86	)	)	PUNCT
emaj-75	144	87	2	2	NUM
emaj-75	144	88	.	.	X
emaj-75	145	1	ebitcpt	ebitcpt	ADV
emaj-75	145	2	:	:	PUNCT
emaj-75	145	3	ebit	ebit	NOUN
emaj-75	145	4	/	/	SYM
emaj-75	145	5	capital	capital	NOUN
emaj-75	145	6	(	(	PUNCT
emaj-75	145	7	ebittocapital	ebittocapital	ADJ
emaj-75	145	8	)	)	PUNCT
emaj-75	145	9	3	3	NUM
emaj-75	145	10	.	.	X
emaj-75	145	11	liqr	liqr	NOUN
emaj-75	145	12	:	:	PUNCT
emaj-75	145	13	liquidity	liquidity	NOUN
emaj-75	145	14	ratio	ratio	NOUN
emaj-75	145	15	,	,	PUNCT
emaj-75	145	16	4	4	NUM
emaj-75	145	17	.	.	PUNCT
emaj-75	145	18	dbtr	dbtr	VERB
emaj-75	145	19	:	:	PUNCT
emaj-75	145	20	total	total	ADJ
emaj-75	145	21	debts	debt	NOUN
emaj-75	145	22	/	/	SYM
emaj-75	145	23	total	total	ADJ
emaj-75	145	24	assets	asset	NOUN
emaj-75	145	25	,	,	PUNCT
emaj-75	145	26	5	5	NUM
emaj-75	145	27	.	.	X
emaj-75	146	1	eqttotassts	eqttotasst	NOUN
emaj-75	146	2	:	:	PUNCT
emaj-75	146	3	equity	equity	NOUN
emaj-75	146	4	/	/	SYM
emaj-75	146	5	total	total	ADJ
emaj-75	146	6	assets	asset	NOUN
emaj-75	146	7	,	,	PUNCT
emaj-75	146	8	6	6	NUM
emaj-75	146	9	.	.	PUNCT
emaj-75	147	1	ebittotassts	ebittotasst	NOUN
emaj-75	147	2	:	:	PUNCT
emaj-75	147	3	ebit	ebit	NOUN
emaj-75	147	4	/	/	SYM
emaj-75	147	5	total	total	ADJ
emaj-75	147	6	assets	asset	NOUN
emaj-75	147	7	.	.	PUNCT
emaj-75	148	1	7	7	X
emaj-75	148	2	.	.	NUM
emaj-75	148	3	ebittoeq	ebittoeq	NOUN
emaj-75	148	4	:	:	PUNCT
emaj-75	148	5	ebit	ebit	NOUN
emaj-75	148	6	/	/	SYM
emaj-75	148	7	equity	equity	PROPN
emaj-75	148	8	:	:	PUNCT
emaj-75	148	9	8	8	NUM
emaj-75	148	10	.	.	X
emaj-75	149	1	owner	owner	NOUN
emaj-75	149	2	:	:	PUNCT
emaj-75	149	3	the	the	DET
emaj-75	149	4	largest	large	ADJ
emaj-75	149	5	share	share	NOUN
emaj-75	149	6	of	of	ADP
emaj-75	149	7	the	the	DET
emaj-75	149	8	firm	firm	ADJ
emaj-75	149	9	equity	equity	NOUN
emaj-75	149	10	μi	μi	NUM
emaj-75	150	1	=	=	SYM
emaj-75	150	2	firm	firm	ADJ
emaj-75	150	3	specific	specific	ADJ
emaj-75	150	4	fixed	fix	VERB
emaj-75	150	5	effect	effect	NOUN
emaj-75	150	6	,	,	PUNCT
emaj-75	150	7	υit=	υit=	VERB
emaj-75	150	8	idiosyncratic	idiosyncratic	ADJ
emaj-75	150	9	disturbance	disturbance	NOUN
emaj-75	150	10	term	term	NOUN
emaj-75	150	11	.	.	PUNCT
emaj-75	151	1	as	as	SCONJ
emaj-75	151	2	mentioned	mention	VERB
emaj-75	151	3	above	above	ADV
emaj-75	151	4	,	,	PUNCT
emaj-75	151	5	this	this	DET
emaj-75	151	6	research	research	NOUN
emaj-75	151	7	’s	’s	PART
emaj-75	151	8	independent	independent	ADJ
emaj-75	151	9	variable	variable	ADJ
emaj-75	151	10	and	and	CCONJ
emaj-75	151	11	ownership	ownership	NOUN
emaj-75	151	12	structure	structure	NOUN
emaj-75	151	13	were	be	AUX
emaj-75	151	14	considered	consider	VERB
emaj-75	151	15	as	as	SCONJ
emaj-75	151	16	follows	follow	VERB
emaj-75	151	17	:	:	PUNCT
emaj-75	151	18	the	the	DET
emaj-75	151	19	size	size	NOUN
emaj-75	151	20	of	of	ADP
emaj-75	151	21	the	the	DET
emaj-75	151	22	largest	large	ADJ
emaj-75	151	23	share	share	NOUN
emaj-75	151	24	of	of	ADP
emaj-75	151	25	the	the	DET
emaj-75	151	26	firm	firm	ADJ
emaj-75	151	27	equity	equity	NOUN
emaj-75	151	28	.	.	PUNCT
emaj-75	152	1	the	the	DET
emaj-75	152	2	owner	owner	NOUN
emaj-75	152	3	of	of	ADP
emaj-75	152	4	the	the	DET
emaj-75	152	5	largest	large	ADJ
emaj-75	152	6	share	share	NOUN
emaj-75	152	7	may	may	AUX
emaj-75	152	8	be	be	AUX
emaj-75	152	9	publicly	publicly	ADV
emaj-75	152	10	(	(	PUNCT
emaj-75	152	11	or	or	CCONJ
emaj-75	152	12	governmental	governmental	ADJ
emaj-75	152	13	)	)	PUNCT
emaj-75	152	14	shareholdings	shareholding	NOUN
emaj-75	152	15	,	,	PUNCT
emaj-75	152	16	foreign	foreign	ADJ
emaj-75	152	17	investors	investor	NOUN
emaj-75	152	18	,	,	PUNCT
emaj-75	152	19	family	family	NOUN
emaj-75	152	20	shareholdings	shareholding	NOUN
emaj-75	152	21	or	or	CCONJ
emaj-75	152	22	domestic	domestic	ADJ
emaj-75	152	23	private	private	ADJ
emaj-75	152	24	shareholdings	shareholding	NOUN
emaj-75	152	25	.	.	PUNCT
emaj-75	153	1	in	in	ADP
emaj-75	153	2	this	this	DET
emaj-75	153	3	research	research	NOUN
emaj-75	153	4	,	,	PUNCT
emaj-75	153	5	the	the	DET
emaj-75	153	6	followings	following	NOUN
emaj-75	153	7	were	be	AUX
emaj-75	153	8	studied	study	VERB
emaj-75	153	9	by	by	ADP
emaj-75	153	10	the	the	DET
emaj-75	153	11	regression	regression	NOUN
emaj-75	153	12	equation	equation	NOUN
emaj-75	153	13	:	:	PUNCT
emaj-75	153	14	auto	auto	NOUN
emaj-75	153	15	-	-	PUNCT
emaj-75	153	16	correlation	correlation	NOUN
emaj-75	153	17	,	,	PUNCT
emaj-75	153	18	the	the	DET
emaj-75	153	19	amounts	amount	NOUN
emaj-75	153	20	of	of	ADP
emaj-75	153	21	determining	determine	VERB
emaj-75	153	22	coefficient	coefficient	NOUN
emaj-75	153	23	,	,	PUNCT
emaj-75	153	24	and	and	CCONJ
emaj-75	153	25	the	the	DET
emaj-75	153	26	significance	significance	NOUN
emaj-75	153	27	of	of	ADP
emaj-75	153	28	the	the	DET
emaj-75	153	29	model	model	NOUN
emaj-75	153	30	and	and	CCONJ
emaj-75	153	31	its	its	PRON
emaj-75	153	32	coefficient	coefficient	NOUN
emaj-75	153	33	.	.	PUNCT
emaj-75	154	1	for	for	ADP
emaj-75	154	2	determining	determine	VERB
emaj-75	154	3	whether	whether	SCONJ
emaj-75	154	4	a	a	DET
emaj-75	154	5	regression	regression	NOUN
emaj-75	154	6	model	model	NOUN
emaj-75	154	7	error	error	NOUN
emaj-75	154	8	statements	statement	NOUN
emaj-75	154	9	were	be	AUX
emaj-75	154	10	self	self	NOUN
emaj-75	154	11	-	-	PUNCT
emaj-75	154	12	correlated	correlate	VERB
emaj-75	154	13	or	or	CCONJ
emaj-75	154	14	not	not	PART
emaj-75	154	15	,	,	PUNCT
emaj-75	154	16	the	the	DET
emaj-75	154	17	durbinwatson	durbinwatson	NOUN
emaj-75	154	18	test	test	NOUN
emaj-75	154	19	was	be	AUX
emaj-75	154	20	employed	employ	VERB
emaj-75	154	21	.	.	PUNCT
emaj-75	155	1	in	in	ADP
emaj-75	155	2	durbin	durbin	ADJ
emaj-75	155	3	-	-	PUNCT
emaj-75	155	4	watson	watson	NOUN
emaj-75	155	5	test	test	NOUN
emaj-75	155	6	the	the	DET
emaj-75	155	7	model	model	NOUN
emaj-75	155	8	hypotheses	hypothesis	NOUN
emaj-75	155	9	are	be	AUX
emaj-75	155	10	:	:	PUNCT
emaj-75	155	11	ho	ho	ADJ
emaj-75	155	12	:	:	PUNCT
emaj-75	155	13	ρ	ρ	PROPN
emaj-75	155	14	=	=	SYM
emaj-75	155	15	0	0	NUM
emaj-75	155	16	h1	h1	NOUN
emaj-75	155	17	:	:	PUNCT
emaj-75	155	18	ρ	ρ	PROPN
emaj-75	155	19	≠	≠	PROPN
emaj-75	155	20	0	0	NUM
emaj-75	155	21	in	in	ADP
emaj-75	155	22	this	this	DET
emaj-75	155	23	model	model	NOUN
emaj-75	155	24	,	,	PUNCT
emaj-75	155	25	when	when	SCONJ
emaj-75	155	26	ρ	ρ	PROPN
emaj-75	155	27	is	be	AUX
emaj-75	155	28	positive	positive	ADJ
emaj-75	155	29	,	,	PUNCT
emaj-75	155	30	self	self	NOUN
emaj-75	155	31	correlation	correlation	NOUN
emaj-75	155	32	is	be	AUX
emaj-75	155	33	positive	positive	ADJ
emaj-75	155	34	and	and	CCONJ
emaj-75	155	35	when	when	SCONJ
emaj-75	155	36	ρ	ρ	PROPN
emaj-75	155	37	is	be	AUX
emaj-75	155	38	negative	negative	ADJ
emaj-75	155	39	,	,	PUNCT
emaj-75	155	40	self	self	NOUN
emaj-75	155	41	correlation	correlation	NOUN
emaj-75	155	42	is	be	AUX
emaj-75	155	43	negative	negative	ADJ
emaj-75	155	44	and	and	CCONJ
emaj-75	155	45	if	if	SCONJ
emaj-75	155	46	ρ=0	ρ=0	NUM
emaj-75	155	47	,	,	PUNCT
emaj-75	155	48	there	there	PRON
emaj-75	155	49	’s	’	VERB
emaj-75	155	50	no	no	DET
emaj-75	155	51	self	self	NOUN
emaj-75	155	52	correlation	correlation	NOUN
emaj-75	155	53	.	.	PUNCT
emaj-75	156	1	volume	volume	NOUN
emaj-75	156	2	5	5	NUM
emaj-75	156	3	no	no	DET
emaj-75	156	4	2	2	NUM
emaj-75	156	5	(	(	PUNCT
emaj-75	156	6	2015	2015	NUM
emaj-75	156	7	)	)	PUNCT
emaj-75	156	8	|	|	ADV
emaj-75	156	9	issn	issn	VERB
emaj-75	156	10	2158	2158	NUM
emaj-75	156	11	-	-	SYM
emaj-75	156	12	8708	8708	NUM
emaj-75	156	13	(	(	PUNCT
emaj-75	156	14	online	online	NOUN
emaj-75	156	15	)	)	PUNCT
emaj-75	156	16	|	|	ADV
emaj-75	156	17	doi	doi	X
emaj-75	156	18	10.5195	10.5195	NUM
emaj-75	156	19	/	/	SYM
emaj-75	156	20	emaj.2015.75	emaj.2015.75	NOUN
emaj-75	156	21	|	|	ADV
emaj-75	156	22	http://emaj.pitt	http://emaj.pitt	VERB
emaj-75	156	23	.	.	PUNCT
emaj-75	157	1	the	the	DET
emaj-75	157	2	relationship	relationship	NOUN
emaj-75	157	3	between	between	ADP
emaj-75	157	4	corporate	corporate	ADJ
emaj-75	157	5	performance	performance	NOUN
emaj-75	157	6	and	and	CCONJ
emaj-75	157	7	ownership	ownership	NOUN
emaj-75	157	8	structure	structure	NOUN
emaj-75	157	9	:	:	PUNCT
emaj-75	157	10	evidence	evidence	NOUN
emaj-75	157	11	from	from	ADP
emaj-75	157	12	turkey	turkey	NOUN
emaj-75	157	13	page	page	NOUN
emaj-75	157	14	|14|	|14|	NOUN
emaj-75	157	15	emerging	emerge	VERB
emaj-75	157	16	markets	market	NOUN
emaj-75	157	17	journal	journal	NOUN
emaj-75	157	18	determining	determine	VERB
emaj-75	157	19	coefficient	coefficient	NOUN
emaj-75	157	20	is	be	AUX
emaj-75	157	21	a	a	DET
emaj-75	157	22	criteria	criterion	NOUN
emaj-75	157	23	which	which	PRON
emaj-75	157	24	explain	explain	VERB
emaj-75	157	25	the	the	DET
emaj-75	157	26	strength	strength	NOUN
emaj-75	157	27	of	of	ADP
emaj-75	157	28	the	the	DET
emaj-75	157	29	relationship	relationship	NOUN
emaj-75	157	30	between	between	ADP
emaj-75	157	31	the	the	DET
emaj-75	157	32	dependent	dependent	ADJ
emaj-75	157	33	and	and	CCONJ
emaj-75	157	34	independent	independent	ADJ
emaj-75	157	35	variables	variable	NOUN
emaj-75	157	36	.	.	PUNCT
emaj-75	158	1	the	the	DET
emaj-75	158	2	amount	amount	NOUN
emaj-75	158	3	of	of	ADP
emaj-75	158	4	this	this	DET
emaj-75	158	5	coefficient	coefficient	NOUN
emaj-75	158	6	,	,	PUNCT
emaj-75	158	7	in	in	ADP
emaj-75	158	8	fact	fact	NOUN
emaj-75	158	9	,	,	PUNCT
emaj-75	158	10	determines	determine	VERB
emaj-75	158	11	what	what	PRON
emaj-75	158	12	percentages	percentage	NOUN
emaj-75	158	13	of	of	ADP
emaj-75	158	14	changes	change	NOUN
emaj-75	158	15	of	of	ADP
emaj-75	158	16	the	the	DET
emaj-75	158	17	dependent	dependent	ADJ
emaj-75	158	18	variables	variable	NOUN
emaj-75	158	19	are	be	AUX
emaj-75	158	20	explained	explain	VERB
emaj-75	158	21	by	by	ADP
emaj-75	158	22	the	the	DET
emaj-75	158	23	independent	independent	ADJ
emaj-75	158	24	variables	variable	NOUN
emaj-75	158	25	.	.	PUNCT
emaj-75	159	1	the	the	DET
emaj-75	159	2	significance	significance	NOUN
emaj-75	159	3	of	of	ADP
emaj-75	159	4	the	the	DET
emaj-75	159	5	regression	regression	NOUN
emaj-75	159	6	equation	equation	NOUN
emaj-75	159	7	was	be	AUX
emaj-75	159	8	determined	determine	VERB
emaj-75	159	9	by	by	ADP
emaj-75	159	10	f	f	NOUN
emaj-75	159	11	-	-	PUNCT
emaj-75	159	12	statistic	statistic	ADJ
emaj-75	159	13	and	and	CCONJ
emaj-75	159	14	related	related	ADJ
emaj-75	159	15	hypothesis	hypothesis	NOUN
emaj-75	159	16	were	be	AUX
emaj-75	159	17	as	as	SCONJ
emaj-75	159	18	follows	follow	VERB
emaj-75	159	19	(	(	PUNCT
emaj-75	159	20	pindycky&rubinfield	pindycky&rubinfield	PROPN
emaj-75	159	21	,	,	PUNCT
emaj-75	159	22	2001	2001	NUM
emaj-75	159	23	):	):	PUNCT
emaj-75	159	24	ho	ho	PROPN
emaj-75	159	25	:	:	PUNCT
emaj-75	159	26	β1	β1	PROPN
emaj-75	159	27	=	=	SYM
emaj-75	159	28	β2	β2	NOUN
emaj-75	159	29	=	=	SYM
emaj-75	160	1	…	…	PUNCT
emaj-75	160	2	=	=	PUNCT
emaj-75	160	3	βk	βk	VERB
emaj-75	160	4	=	=	SYM
emaj-75	160	5	0	0	NUM
emaj-75	160	6	h1	h1	NOUN
emaj-75	160	7	:	:	PUNCT
emaj-75	160	8	ǝβi	ǝβi	PROPN
emaj-75	160	9	≠	≠	PROPN
emaj-75	160	10	0	0	NUM
emaj-75	160	11	:	:	PUNCT
emaj-75	161	1	i	i	NOUN
emaj-75	161	2	=	=	SYM
emaj-75	161	3	1,2	1,2	NUM
emaj-75	161	4	,	,	PUNCT
emaj-75	161	5	…	…	PUNCT
emaj-75	161	6	,	,	PUNCT
emaj-75	161	7	k	k	PROPN
emaj-75	161	8	if	if	SCONJ
emaj-75	161	9	ho	ho	PROPN
emaj-75	161	10	is	be	AUX
emaj-75	161	11	rejected	reject	VERB
emaj-75	161	12	(	(	PUNCT
emaj-75	161	13	with	with	ADP
emaj-75	161	14	95	95	NUM
emaj-75	161	15	percent	percent	NOUN
emaj-75	161	16	probability	probability	NOUN
emaj-75	161	17	)	)	PUNCT
emaj-75	161	18	,	,	PUNCT
emaj-75	161	19	the	the	DET
emaj-75	161	20	regression	regression	NOUN
emaj-75	161	21	equation	equation	NOUN
emaj-75	161	22	is	be	AUX
emaj-75	161	23	significant	significant	ADJ
emaj-75	161	24	.	.	PUNCT
emaj-75	162	1	after	after	ADP
emaj-75	162	2	implementing	implement	VERB
emaj-75	162	3	the	the	DET
emaj-75	162	4	regression	regression	NOUN
emaj-75	162	5	significance	significance	NOUN
emaj-75	162	6	test	test	NOUN
emaj-75	162	7	,	,	PUNCT
emaj-75	162	8	the	the	DET
emaj-75	162	9	regressions	regression	NOUN
emaj-75	162	10	of	of	ADP
emaj-75	162	11	each	each	PRON
emaj-75	162	12	of	of	ADP
emaj-75	162	13	the	the	DET
emaj-75	162	14	coefficients	coefficient	NOUN
emaj-75	162	15	should	should	AUX
emaj-75	162	16	have	have	AUX
emaj-75	162	17	been	be	AUX
emaj-75	162	18	tested	test	VERB
emaj-75	162	19	.	.	PUNCT
emaj-75	163	1	the	the	DET
emaj-75	163	2	test	test	NOUN
emaj-75	163	3	hypotheses	hypothesis	NOUN
emaj-75	163	4	are	be	AUX
emaj-75	163	5	presented	present	VERB
emaj-75	163	6	below	below	ADP
emaj-75	163	7	:	:	PUNCT
emaj-75	163	8	ho	ho	PROPN
emaj-75	163	9	:	:	PUNCT
emaj-75	163	10	β1	β1	PROPN
emaj-75	163	11	=	=	SYM
emaj-75	163	12	0	0	NUM
emaj-75	163	13	means	mean	VERB
emaj-75	163	14	the	the	DET
emaj-75	163	15	population	population	NOUN
emaj-75	163	16	coefficient	coefficient	NOUN
emaj-75	163	17	is	be	AUX
emaj-75	163	18	zero	zero	NUM
emaj-75	163	19	,	,	PUNCT
emaj-75	163	20	h1	h1	NOUN
emaj-75	163	21	:	:	PUNCT
emaj-75	163	22	β1	β1	PROPN
emaj-75	163	23	≠	≠	PROPN
emaj-75	163	24	0	0	NUM
emaj-75	163	25	means	mean	VERB
emaj-75	163	26	the	the	DET
emaj-75	163	27	population	population	NOUN
emaj-75	163	28	coefficient	coefficient	NOUN
emaj-75	163	29	is	be	AUX
emaj-75	163	30	not	not	PART
emaj-75	163	31	zero	zero	NUM
emaj-75	163	32	.	.	PUNCT
emaj-75	164	1	for	for	ADP
emaj-75	164	2	testing	test	VERB
emaj-75	164	3	these	these	DET
emaj-75	164	4	hypotheses	hypothesis	NOUN
emaj-75	164	5	,	,	PUNCT
emaj-75	164	6	t	t	PROPN
emaj-75	164	7	test	test	NOUN
emaj-75	164	8	was	be	AUX
emaj-75	164	9	employed	employ	VERB
emaj-75	164	10	.	.	PUNCT
emaj-75	165	1	in	in	ADP
emaj-75	165	2	this	this	DET
emaj-75	165	3	test	test	NOUN
emaj-75	165	4	(	(	PUNCT
emaj-75	165	5	with	with	ADP
emaj-75	165	6	95	95	NUM
emaj-75	165	7	percent	percent	NOUN
emaj-75	165	8	probability	probability	NOUN
emaj-75	165	9	)	)	PUNCT
emaj-75	165	10	if	if	SCONJ
emaj-75	165	11	we	we	PRON
emaj-75	165	12	could	could	AUX
emaj-75	165	13	n’t	not	PART
emaj-75	165	14	reject	reject	VERB
emaj-75	165	15	ho	ho	PROPN
emaj-75	165	16	,	,	PUNCT
emaj-75	165	17	it	it	PRON
emaj-75	165	18	means	mean	VERB
emaj-75	165	19	that	that	SCONJ
emaj-75	165	20	the	the	DET
emaj-75	165	21	considered	consider	VERB
emaj-75	165	22	coefficient	coefficient	NOUN
emaj-75	165	23	is	be	AUX
emaj-75	165	24	n’t	not	PART
emaj-75	165	25	significant	significant	ADJ
emaj-75	165	26	and	and	CCONJ
emaj-75	165	27	its	its	PRON
emaj-75	165	28	rejection	rejection	NOUN
emaj-75	165	29	means	mean	VERB
emaj-75	165	30	the	the	DET
emaj-75	165	31	opposite	opposite	NOUN
emaj-75	165	32	.	.	PUNCT
emaj-75	166	1	iv	iv	X
emaj-75	166	2	.	.	PUNCT
emaj-75	166	3	empirical	empirical	ADJ
emaj-75	166	4	results	result	NOUN
emaj-75	166	5	the	the	DET
emaj-75	166	6	descriptive	descriptive	ADJ
emaj-75	166	7	statistics	statistic	NOUN
emaj-75	166	8	of	of	ADP
emaj-75	166	9	the	the	DET
emaj-75	166	10	variables	variable	NOUN
emaj-75	166	11	and	and	CCONJ
emaj-75	166	12	the	the	DET
emaj-75	166	13	results	result	NOUN
emaj-75	166	14	of	of	ADP
emaj-75	166	15	the	the	DET
emaj-75	166	16	normality	normality	NOUN
emaj-75	166	17	test	test	NOUN
emaj-75	166	18	are	be	AUX
emaj-75	166	19	given	give	VERB
emaj-75	166	20	in	in	ADP
emaj-75	166	21	table	table	NOUN
emaj-75	166	22	1	1	NUM
emaj-75	166	23	.	.	PUNCT
emaj-75	167	1	the	the	DET
emaj-75	167	2	normality	normality	NOUN
emaj-75	167	3	for	for	ADP
emaj-75	167	4	five	five	NUM
emaj-75	167	5	variables	variable	NOUN
emaj-75	167	6	showed	show	VERB
emaj-75	167	7	significant	significant	ADJ
emaj-75	167	8	at	at	ADP
emaj-75	167	9	1	1	NUM
emaj-75	167	10	percent	percent	NOUN
emaj-75	167	11	(	(	PUNCT
emaj-75	167	12	p<0.01	p<0.01	PROPN
emaj-75	167	13	)	)	PUNCT
emaj-75	167	14	,	,	PUNCT
emaj-75	167	15	two	two	NUM
emaj-75	167	16	variables	variable	NOUN
emaj-75	167	17	showed	show	VERB
emaj-75	167	18	significant	significant	ADJ
emaj-75	167	19	at	at	ADP
emaj-75	167	20	5	5	NUM
emaj-75	167	21	percent	percent	NOUN
emaj-75	167	22	(	(	PUNCT
emaj-75	167	23	p<0.05	p<0.05	NOUN
emaj-75	167	24	)	)	PUNCT
emaj-75	167	25	,	,	PUNCT
emaj-75	167	26	and	and	CCONJ
emaj-75	167	27	liqr	liqr	NOUN
emaj-75	167	28	showed	show	VERB
emaj-75	167	29	significant	significant	ADJ
emaj-75	167	30	at	at	ADP
emaj-75	167	31	10	10	NUM
emaj-75	167	32	percent	percent	NOUN
emaj-75	167	33	(	(	PUNCT
emaj-75	167	34	p<0.01	p<0.01	PROPN
emaj-75	167	35	)	)	PUNCT
emaj-75	167	36	.	.	PUNCT
emaj-75	168	1	different	different	ADJ
emaj-75	168	2	models	model	NOUN
emaj-75	168	3	are	be	AUX
emaj-75	168	4	developed	develop	VERB
emaj-75	168	5	from	from	ADP
emaj-75	168	6	the	the	DET
emaj-75	168	7	variables	variable	NOUN
emaj-75	168	8	except	except	SCONJ
emaj-75	168	9	eqttotassts	eqttotasst	NOUN
emaj-75	168	10	.	.	PUNCT
emaj-75	169	1	the	the	DET
emaj-75	169	2	f	f	NOUN
emaj-75	169	3	-	-	PUNCT
emaj-75	169	4	statistic	statistic	NOUN
emaj-75	169	5	for	for	ADP
emaj-75	169	6	one	one	NUM
emaj-75	169	7	model	model	NOUN
emaj-75	169	8	is	be	AUX
emaj-75	169	9	statistically	statistically	ADV
emaj-75	169	10	significant	significant	ADJ
emaj-75	169	11	at	at	ADP
emaj-75	169	12	5	5	NUM
emaj-75	169	13	%	%	NOUN
emaj-75	169	14	level	level	NOUN
emaj-75	169	15	.	.	PUNCT
emaj-75	170	1	table	table	NOUN
emaj-75	170	2	2	2	NUM
emaj-75	170	3	reports	report	NOUN
emaj-75	170	4	that	that	SCONJ
emaj-75	170	5	ownership	ownership	NOUN
emaj-75	170	6	coefficient	coefficient	NOUN
emaj-75	170	7	on	on	ADP
emaj-75	170	8	tobin	tobin	PROPN
emaj-75	170	9	’s	’s	PART
emaj-75	170	10	q	q	PROPN
emaj-75	170	11	is	be	AUX
emaj-75	170	12	negative	negative	ADJ
emaj-75	170	13	and	and	CCONJ
emaj-75	170	14	significant	significant	ADJ
emaj-75	170	15	at	at	ADP
emaj-75	170	16	5	5	NUM
emaj-75	170	17	percent	percent	NOUN
emaj-75	170	18	level	level	NOUN
emaj-75	170	19	(	(	PUNCT
emaj-75	170	20	p<0.05	p<0.05	NOUN
emaj-75	170	21	)	)	PUNCT
emaj-75	170	22	.	.	PUNCT
emaj-75	171	1	1	1	NUM
emaj-75	171	2	percent	percent	NOUN
emaj-75	171	3	increase	increase	NOUN
emaj-75	171	4	in	in	ADP
emaj-75	171	5	the	the	DET
emaj-75	171	6	size	size	NOUN
emaj-75	171	7	of	of	ADP
emaj-75	171	8	the	the	DET
emaj-75	171	9	largest	large	ADJ
emaj-75	171	10	share	share	NOUN
emaj-75	171	11	of	of	ADP
emaj-75	171	12	the	the	DET
emaj-75	171	13	firm	firm	ADJ
emaj-75	171	14	equity	equity	NOUN
emaj-75	171	15	will	will	AUX
emaj-75	171	16	decrease	decrease	VERB
emaj-75	171	17	0.044871	0.044871	NUM
emaj-75	171	18	in	in	ADP
emaj-75	171	19	tobin	tobin	PROPN
emaj-75	171	20	’s	’s	PART
emaj-75	171	21	q.	q.	PROPN
emaj-75	171	22	table	table	PROPN
emaj-75	171	23	1	1	NUM
emaj-75	171	24	:	:	PUNCT
emaj-75	171	25	descriptive	descriptive	ADJ
emaj-75	171	26	statistics	statistic	NOUN
emaj-75	171	27	and	and	CCONJ
emaj-75	171	28	normality	normality	NOUN
emaj-75	171	29	test	test	NOUN
emaj-75	171	30	tobi	tobi	NOUN
emaj-75	171	31	nsq	nsq	PROPN
emaj-75	171	32	own	own	ADJ
emaj-75	171	33	er	er	INTJ
emaj-75	171	34	ebit	ebit	NOUN
emaj-75	171	35	tsls	tsls	PROPN
emaj-75	171	36	ebit	ebit	PROPN
emaj-75	171	37	eq	eq	ADP
emaj-75	171	38	liqr	liqr	PROPN
emaj-75	171	39	eqtto	eqtto	ADJ
emaj-75	171	40	tassts	tasst	NOUN
emaj-75	171	41	ebit	ebit	PROPN
emaj-75	171	42	cpt	cpt	PROPN
emaj-75	171	43	ebittot	ebittot	PROPN
emaj-75	171	44	assts	asst	NOUN
emaj-75	171	45	dbtr	dbtr	VERB
emaj-75	171	46	mean	mean	VERB
emaj-75	171	47	2.387	2.387	NUM
emaj-75	171	48	632	632	NUM
emaj-75	171	49	53.56	53.56	NUM
emaj-75	171	50	193	193	NUM
emaj-75	172	1	0.098	0.098	NUM
emaj-75	172	2	596	596	NUM
emaj-75	172	3	0.213	0.213	NUM
emaj-75	172	4	333	333	NUM
emaj-75	172	5	1.4887	1.4887	NUM
emaj-75	172	6	72	72	NUM
emaj-75	172	7	0.4130	0.4130	NUM
emaj-75	172	8	70	70	NUM
emaj-75	172	9	0.142	0.142	NUM
emaj-75	172	10	895	895	NUM
emaj-75	172	11	0.07894	0.07894	NUM
emaj-75	172	12	7	7	NUM
emaj-75	172	13	0.859	0.859	NUM
emaj-75	172	14	825	825	NUM
emaj-75	172	15	media	medium	NOUN
emaj-75	172	16	n	n	CCONJ
emaj-75	172	17	1.485	1.485	NUM
emaj-75	172	18	000	000	NUM
emaj-75	172	19	52.37	52.37	NUM
emaj-75	172	20	000	000	NUM
emaj-75	172	21	0.070	0.070	NUM
emaj-75	172	22	000	000	NUM
emaj-75	172	23	0.190	0.190	NUM
emaj-75	172	24	000	000	NUM
emaj-75	172	25	1.4000	1.4000	NUM
emaj-75	172	26	00	00	NUM
emaj-75	172	27	0.4000	0.4000	NUM
emaj-75	172	28	00	00	NUM
emaj-75	172	29	0.120	0.120	NUM
emaj-75	172	30	000	000	NUM
emaj-75	172	31	0.07000	0.07000	NUM
emaj-75	172	32	0	0	NUM
emaj-75	172	33	0.580	0.580	NUM
emaj-75	172	34	000	000	NUM
emaj-75	172	35	maxim	maxim	NOUN
emaj-75	172	36	um	um	INTJ
emaj-75	172	37	19.88	19.88	NUM
emaj-75	172	38	000	000	NUM
emaj-75	172	39	97.92	97.92	NUM
emaj-75	172	40	000	000	NUM
emaj-75	172	41	0.500	0.500	NUM
emaj-75	172	42	000	000	NUM
emaj-75	173	1	0.670	0.670	NUM
emaj-75	173	2	000	000	NUM
emaj-75	173	3	3.0800	3.0800	NUM
emaj-75	173	4	00	00	NUM
emaj-75	173	5	0.8000	0.8000	NUM
emaj-75	173	6	00	00	NUM
emaj-75	173	7	0.640	0.640	NUM
emaj-75	173	8	000	000	NUM
emaj-75	173	9	0.25000	0.25000	NUM
emaj-75	173	10	0	0	NUM
emaj-75	173	11	34.45	34.45	NUM
emaj-75	173	12	000	000	NUM
emaj-75	173	13	minim	minim	NOUN
emaj-75	173	14	um	um	INTJ
emaj-75	173	15	0.390	0.390	NUM
emaj-75	173	16	000	000	NUM
emaj-75	173	17	26.00	26.00	NUM
emaj-75	173	18	000	000	NUM
emaj-75	173	19	0.090	0.090	NUM
emaj-75	173	20	000	000	NUM
emaj-75	173	21	0.100	0.100	NUM
emaj-75	173	22	000	000	NUM
emaj-75	173	23	0.5800	0.5800	NUM
emaj-75	173	24	00	00	NUM
emaj-75	173	25	0.0800	0.0800	NUM
emaj-75	173	26	00	00	NUM
emaj-75	173	27	0.090	0.090	NUM
emaj-75	173	28	000	000	NUM
emaj-75	173	29	0.08000	0.08000	NUM
emaj-75	173	30	0	0	NUM
emaj-75	173	31	0.200	0.200	NUM
emaj-75	173	32	000	000	NUM
emaj-75	173	33	std	std	NOUN
emaj-75	173	34	.	.	PUNCT
emaj-75	174	1	dev	dev	PROPN
emaj-75	174	2	.	.	PUNCT
emaj-75	175	1	3.329	3.329	NUM
emaj-75	175	2	065	065	NUM
emaj-75	175	3	14.33	14.33	NUM
emaj-75	175	4	453	453	NUM
emaj-75	175	5	0.096	0.096	NUM
emaj-75	175	6	376	376	NUM
emaj-75	175	7	0.153	0.153	NUM
emaj-75	175	8	679	679	NUM
emaj-75	175	9	0.5695	0.5695	NUM
emaj-75	175	10	72	72	NUM
emaj-75	175	11	0.1607	0.1607	NUM
emaj-75	175	12	84	84	NUM
emaj-75	175	13	0.124	0.124	NUM
emaj-75	175	14	109	109	NUM
emaj-75	175	15	0.06275	0.06275	NUM
emaj-75	175	16	9	9	NUM
emaj-75	175	17	3.177	3.177	NUM
emaj-75	175	18	465	465	NUM
emaj-75	175	19	skewn	skewn	VERB
emaj-75	175	20	ess	ess	PROPN
emaj-75	175	21	3.709	3.709	NUM
emaj-75	175	22	338	338	NUM
emaj-75	175	23	0.499	0.499	NUM
emaj-75	175	24	932	932	NUM
emaj-75	175	25	1.666	1.666	NUM
emaj-75	175	26	322	322	NUM
emaj-75	175	27	0.635	0.635	NUM
emaj-75	175	28	785	785	NUM
emaj-75	175	29	0.4922	0.4922	NUM
emaj-75	175	30	03	03	NUM
emaj-75	176	1	0.0659	0.0659	NUM
emaj-75	176	2	77	77	NUM
emaj-75	176	3	1.606	1.606	NUM
emaj-75	176	4	568	568	NUM
emaj-75	176	5	0.60200	0.60200	NUM
emaj-75	176	6	8	8	NUM
emaj-75	176	7	10.49	10.49	NUM
emaj-75	176	8	949	949	NUM
emaj-75	176	9	kurtos	kurto	NOUN
emaj-75	176	10	is	be	AUX
emaj-75	176	11	16.96	16.96	NUM
emaj-75	176	12	225	225	NUM
emaj-75	176	13	4.136	4.136	NUM
emaj-75	176	14	021	021	NUM
emaj-75	176	15	6.749	6.749	NUM
emaj-75	176	16	212	212	NUM
emaj-75	176	17	3.308	3.308	NUM
emaj-75	176	18	428	428	NUM
emaj-75	176	19	2.5018	2.5018	NUM
emaj-75	176	20	85	85	NUM
emaj-75	176	21	2.5120	2.5120	NUM
emaj-75	176	22	10	10	NUM
emaj-75	176	23	6.639	6.639	NUM
emaj-75	176	24	115	115	NUM
emaj-75	176	25	3.26386	3.26386	NUM
emaj-75	176	26	5	5	NUM
emaj-75	176	27	111.5	111.5	NUM
emaj-75	176	28	000	000	NUM
emaj-75	176	29	jarque	jarque	NOUN
emaj-75	176	30	-bera	-bera	NOUN
emaj-75	176	31	1187	1187	NUM
emaj-75	176	32	.	.	PUNCT
emaj-75	177	1	411	411	NUM
emaj-75	177	2	10.87	10.87	NUM
emaj-75	177	3	880	880	NUM
emaj-75	177	4	119.5	119.5	NUM
emaj-75	177	5	248	248	NUM
emaj-75	177	6	8.132	8.132	NUM
emaj-75	177	7	079	079	NUM
emaj-75	178	1	5.7815	5.7815	NUM
emaj-75	178	2	76	76	NUM
emaj-75	178	3	1.2138	1.2138	NUM
emaj-75	178	4	46	46	NUM
emaj-75	178	5	111.9	111.9	NUM
emaj-75	178	6	452	452	NUM
emaj-75	178	7	7.21657	7.21657	NUM
emaj-75	178	8	7	7	NUM
emaj-75	178	9	5801	5801	NUM
emaj-75	178	10	2.69	2.69	NUM
emaj-75	178	11	proba	proba	NOUN
emaj-75	178	12	bility	bility	NOUN
emaj-75	178	13	0.000	0.000	NUM
emaj-75	178	14	000	000	NUM
emaj-75	178	15	*	*	PUNCT
emaj-75	178	16	0.004	0.004	NUM
emaj-75	178	17	342	342	NUM
emaj-75	178	18	*	*	SYM
emaj-75	178	19	0.000	0.000	NUM
emaj-75	178	20	000	000	NUM
emaj-75	178	21	*	*	PUNCT
emaj-75	178	22	0.017	0.017	NUM
emaj-75	178	23	145	145	NUM
emaj-75	178	24	*	*	PUNCT
emaj-75	178	25	*	*	PUNCT
emaj-75	179	1	0.0555	0.0555	NUM
emaj-75	179	2	32	32	NUM
emaj-75	179	3	*	*	PUNCT
emaj-75	179	4	*	*	PUNCT
emaj-75	179	5	*	*	PUNCT
emaj-75	179	6	0.5450	0.5450	NUM
emaj-75	179	7	25	25	NUM
emaj-75	179	8	0.000	0.000	NUM
emaj-75	179	9	000	000	NUM
emaj-75	179	10	*	*	NOUN
emaj-75	179	11	0.02709	0.02709	NUM
emaj-75	179	12	8	8	NUM
emaj-75	179	13	*	*	NOUN
emaj-75	179	14	*	*	PUNCT
emaj-75	179	15	0.000	0.000	NUM
emaj-75	179	16	000	000	NUM
emaj-75	179	17	*	*	PUNCT
emaj-75	179	18	sum	sum	VERB
emaj-75	179	19	272.1	272.1	NUM
emaj-75	179	20	900	900	NUM
emaj-75	179	21	6106	6106	NUM
emaj-75	179	22	.	.	PUNCT
emaj-75	180	1	060	060	NUM
emaj-75	180	2	11.24	11.24	NUM
emaj-75	180	3	000	000	NUM
emaj-75	180	4	24.32	24.32	NUM
emaj-75	180	5	000	000	NUM
emaj-75	181	1	169.72	169.72	NUM
emaj-75	181	2	00	00	NUM
emaj-75	182	1	47.090	47.090	NUM
emaj-75	182	2	00	00	NUM
emaj-75	182	3	16.29	16.29	NUM
emaj-75	182	4	000	000	NUM
emaj-75	183	1	9.00000	9.00000	NUM
emaj-75	183	2	0	0	NUM
emaj-75	183	3	98.02	98.02	NUM
emaj-75	183	4	000	000	NUM
emaj-75	183	5	sum	sum	PROPN
emaj-75	183	6	sq	sq	PROPN
emaj-75	183	7	.	.	PROPN
emaj-75	183	8	dev	dev	PROPN
emaj-75	183	9	.	.	PROPN
emaj-75	183	10	1252	1252	NUM
emaj-75	183	11	.	.	PUNCT
emaj-75	184	1	342	342	NUM
emaj-75	184	2	2321	2321	NUM
emaj-75	184	3	9.11	9.11	NUM
emaj-75	184	4	1.049	1.049	NUM
emaj-75	184	5	575	575	NUM
emaj-75	184	6	2.668	2.668	NUM
emaj-75	184	7	733	733	NUM
emaj-75	184	8	36.658	36.658	NUM
emaj-75	184	9	63	63	NUM
emaj-75	184	10	2.9212	2.9212	NUM
emaj-75	184	11	25	25	NUM
emaj-75	184	12	1.740	1.740	NUM
emaj-75	184	13	545	545	NUM
emaj-75	184	14	0.44507	0.44507	NUM
emaj-75	184	15	4	4	NUM
emaj-75	184	16	1140	1140	NUM
emaj-75	184	17	.	.	PUNCT
emaj-75	185	1	880	880	NUM
emaj-75	185	2	obser	obser	NOUN
emaj-75	185	3	vation	vation	NOUN
emaj-75	185	4	s	s	PART
emaj-75	185	5	114	114	NUM
emaj-75	185	6	114	114	NUM
emaj-75	185	7	114	114	NUM
emaj-75	185	8	114	114	NUM
emaj-75	185	9	114	114	NUM
emaj-75	185	10	114	114	NUM
emaj-75	185	11	114	114	NUM
emaj-75	185	12	114	114	NUM
emaj-75	185	13	114	114	NUM
emaj-75	185	14	notes	note	NOUN
emaj-75	185	15	:	:	PUNCT
emaj-75	185	16	*	*	PUNCT
emaj-75	185	17	significant	significant	ADJ
emaj-75	185	18	at	at	ADP
emaj-75	185	19	1	1	NUM
emaj-75	185	20	percent	percent	NOUN
emaj-75	185	21	(	(	PUNCT
emaj-75	185	22	p<0.01	p<0.01	PROPN
emaj-75	185	23	)	)	PUNCT
emaj-75	185	24	*	*	PUNCT
emaj-75	186	1	*	*	PUNCT
emaj-75	186	2	significant	significant	ADJ
emaj-75	186	3	at	at	ADP
emaj-75	186	4	5	5	NUM
emaj-75	186	5	percent	percent	NOUN
emaj-75	186	6	(	(	PUNCT
emaj-75	186	7	p<0.05	p<0.05	NOUN
emaj-75	186	8	)	)	PUNCT
emaj-75	186	9	*	*	PUNCT
emaj-75	187	1	*	*	PUNCT
emaj-75	187	2	*	*	PUNCT
emaj-75	187	3	significant	significant	ADJ
emaj-75	187	4	at	at	ADP
emaj-75	187	5	10	10	NUM
emaj-75	187	6	percent	percent	NOUN
emaj-75	187	7	(	(	PUNCT
emaj-75	187	8	p<0.10	p<0.10	NOUN
emaj-75	187	9	)	)	PUNCT
emaj-75	187	10	volume	volume	NOUN
emaj-75	187	11	5	5	NUM
emaj-75	187	12	no	no	DET
emaj-75	187	13	2	2	NUM
emaj-75	187	14	(	(	PUNCT
emaj-75	187	15	2015	2015	NUM
emaj-75	187	16	)	)	PUNCT
emaj-75	187	17	|	|	ADV
emaj-75	187	18	issn	issn	VERB
emaj-75	187	19	2158	2158	NUM
emaj-75	187	20	-	-	SYM
emaj-75	187	21	8708	8708	NUM
emaj-75	187	22	(	(	PUNCT
emaj-75	187	23	online	online	NOUN
emaj-75	187	24	)	)	PUNCT
emaj-75	187	25	|	|	ADV
emaj-75	187	26	doi	doi	X
emaj-75	187	27	10.5195	10.5195	NUM
emaj-75	187	28	/	/	SYM
emaj-75	187	29	emaj.2015.75	emaj.2015.75	NOUN
emaj-75	188	1	|	|	NOUN
emaj-75	188	2	http://emaj.pitt.edu	http://emaj.pitt.edu	PROPN
emaj-75	188	3	hicabi	hicabi	NOUN
emaj-75	188	4	ersoy	ersoy	NOUN
emaj-75	188	5	,	,	PUNCT
emaj-75	188	6	ayben	ayben	PROPN
emaj-75	188	7	koy	koy	VERB
emaj-75	188	8	emerging	emerge	VERB
emaj-75	188	9	markets	market	NOUN
emaj-75	188	10	journal	journal	NOUN
emaj-75	189	1	|	|	ADV
emaj-75	189	2	p	p	NOUN
emaj-75	189	3	a	a	DET
emaj-75	189	4	g	g	NOUN
emaj-75	189	5	e	e	NOUN
emaj-75	189	6	|15	|15	VERB
emaj-75	189	7	the	the	DET
emaj-75	189	8	study	study	NOUN
emaj-75	189	9	result	result	NOUN
emaj-75	189	10	shows	show	VERB
emaj-75	189	11	that	that	SCONJ
emaj-75	189	12	,	,	PUNCT
emaj-75	189	13	when	when	SCONJ
emaj-75	189	14	the	the	DET
emaj-75	189	15	large	large	ADJ
emaj-75	189	16	shares	share	NOUN
emaj-75	189	17	of	of	ADP
emaj-75	189	18	the	the	DET
emaj-75	189	19	companies	company	NOUN
emaj-75	189	20	are	be	AUX
emaj-75	189	21	held	hold	VERB
emaj-75	189	22	by	by	ADP
emaj-75	189	23	one	one	NUM
emaj-75	189	24	individual	individual	NOUN
emaj-75	189	25	or	or	CCONJ
emaj-75	189	26	a	a	DET
emaj-75	189	27	few	few	ADJ
emaj-75	189	28	persons	person	NOUN
emaj-75	189	29	or	or	CCONJ
emaj-75	189	30	a	a	DET
emaj-75	189	31	group	group	NOUN
emaj-75	189	32	,	,	PUNCT
emaj-75	189	33	the	the	DET
emaj-75	189	34	firm	firm	ADJ
emaj-75	189	35	performances	performance	NOUN
emaj-75	189	36	are	be	AUX
emaj-75	189	37	affected	affect	VERB
emaj-75	189	38	negatively	negatively	ADV
emaj-75	189	39	.	.	PUNCT
emaj-75	190	1	the	the	DET
emaj-75	190	2	result	result	NOUN
emaj-75	190	3	appropriates	appropriate	VERB
emaj-75	190	4	the	the	DET
emaj-75	190	5	agency	agency	NOUN
emaj-75	190	6	theory	theory	NOUN
emaj-75	190	7	.	.	PUNCT
emaj-75	191	1	the	the	DET
emaj-75	191	2	existence	existence	NOUN
emaj-75	191	3	of	of	ADP
emaj-75	191	4	large	large	ADJ
emaj-75	191	5	shareholders	shareholder	NOUN
emaj-75	191	6	and	and	CCONJ
emaj-75	191	7	concentrated	concentrated	ADJ
emaj-75	191	8	ownership	ownership	NOUN
emaj-75	191	9	influence	influence	NOUN
emaj-75	191	10	the	the	DET
emaj-75	191	11	level	level	NOUN
emaj-75	191	12	of	of	ADP
emaj-75	191	13	agency	agency	NOUN
emaj-75	191	14	cost	cost	NOUN
emaj-75	191	15	and	and	CCONJ
emaj-75	191	16	companies	company	NOUN
emaj-75	191	17	performance	performance	NOUN
emaj-75	191	18	(	(	PUNCT
emaj-75	191	19	jensen	jensen	PROPN
emaj-75	191	20	and	and	CCONJ
emaj-75	191	21	meckling	meckle	VERB
emaj-75	191	22	1976	1976	NUM
emaj-75	191	23	)	)	PUNCT
emaj-75	191	24	.	.	PUNCT
emaj-75	192	1	except	except	SCONJ
emaj-75	192	2	from	from	ADP
emaj-75	192	3	the	the	DET
emaj-75	192	4	variables	variable	NOUN
emaj-75	192	5	owner	owner	NOUN
emaj-75	192	6	,	,	PUNCT
emaj-75	192	7	ebitsls	ebitsls	NOUN
emaj-75	192	8	and	and	CCONJ
emaj-75	192	9	ebitcpt	ebitcpt	NOUN
emaj-75	192	10	,	,	PUNCT
emaj-75	192	11	the	the	DET
emaj-75	192	12	others	other	NOUN
emaj-75	192	13	tested	test	VERB
emaj-75	192	14	ebit	ebit	PROPN
emaj-75	192	15	/	/	SYM
emaj-75	192	16	capital	capital	PROPN
emaj-75	192	17	,	,	PUNCT
emaj-75	192	18	liqr	liqr	NOUN
emaj-75	192	19	,	,	PUNCT
emaj-75	192	20	dbtr	dbtr	VERB
emaj-75	192	21	,	,	PUNCT
emaj-75	192	22	eqttotassts	eqttotasst	NOUN
emaj-75	192	23	,	,	PUNCT
emaj-75	192	24	ebittotassts	ebittotasst	NOUN
emaj-75	192	25	,	,	PUNCT
emaj-75	192	26	ebit	ebit	NOUN
emaj-75	192	27	/	/	SYM
emaj-75	192	28	total	total	ADJ
emaj-75	192	29	assets	asset	NOUN
emaj-75	192	30	,	,	PUNCT
emaj-75	192	31	ebittoeq	ebittoeq	NOUN
emaj-75	192	32	are	be	AUX
emaj-75	192	33	not	not	PART
emaj-75	192	34	found	find	VERB
emaj-75	192	35	significantly	significantly	ADV
emaj-75	192	36	in	in	ADP
emaj-75	192	37	this	this	DET
emaj-75	192	38	study	study	NOUN
emaj-75	192	39	.	.	PUNCT
emaj-75	193	1	so	so	ADV
emaj-75	193	2	table	table	NOUN
emaj-75	193	3	2	2	NUM
emaj-75	193	4	below	below	ADV
emaj-75	193	5	shows	show	VERB
emaj-75	193	6	the	the	DET
emaj-75	193	7	results	result	NOUN
emaj-75	193	8	of	of	ADP
emaj-75	193	9	the	the	DET
emaj-75	193	10	significance	significance	NOUN
emaj-75	193	11	level	level	NOUN
emaj-75	193	12	of	of	ADP
emaj-75	193	13	the	the	DET
emaj-75	193	14	explanatory	explanatory	ADJ
emaj-75	193	15	variables	variable	NOUN
emaj-75	193	16	owner	owner	NOUN
emaj-75	193	17	,	,	PUNCT
emaj-75	193	18	ebitsls	ebitsls	NOUN
emaj-75	193	19	and	and	CCONJ
emaj-75	193	20	ebitcpt	ebitcpt	NOUN
emaj-75	193	21	.	.	PUNCT
emaj-75	194	1	then	then	ADV
emaj-75	194	2	we	we	PRON
emaj-75	194	3	rewrite	rewrite	VERB
emaj-75	194	4	the	the	DET
emaj-75	194	5	model	model	NOUN
emaj-75	194	6	as	as	ADP
emaj-75	194	7	:	:	PUNCT
emaj-75	194	8	tobinsq	tobinsq	NOUN
emaj-75	194	9	=	=	PUNCT
emaj-75	194	10	-0.04487145591*owner	-0.04487145591*owner	NOUN
emaj-75	194	11	5.787288895*ebittosales	5.787288895*ebittosale	NOUN
emaj-75	194	12	+	+	CCONJ
emaj-75	195	1	17.21702618*ebittocapital	17.21702618*ebittocapital	ADJ
emaj-75	196	1	+	+	NUM
emaj-75	196	2	2.901417306	2.901417306	NUM
emaj-75	197	1	+	+	CCONJ
emaj-75	197	2	[	[	X
emaj-75	197	3	cx	cx	X
emaj-75	197	4	=	=	SYM
emaj-75	197	5	f	f	PROPN
emaj-75	197	6	,	,	PUNCT
emaj-75	197	7	per	per	ADP
emaj-75	197	8	=	=	NOUN
emaj-75	197	9	f	f	NOUN
emaj-75	197	10	]	]	X
emaj-75	197	11	table	table	NOUN
emaj-75	197	12	2.results	2.results	NUM
emaj-75	197	13	of	of	ADP
emaj-75	197	14	panel	panel	NOUN
emaj-75	197	15	least	least	ADJ
emaj-75	197	16	squares	square	NOUN
emaj-75	197	17	dependent	dependent	ADJ
emaj-75	197	18	variable	variable	NOUN
emaj-75	197	19	:	:	PUNCT
emaj-75	197	20	tobinsq	tobinsq	ADJ
emaj-75	197	21	method	method	NOUN
emaj-75	197	22	:	:	PUNCT
emaj-75	197	23	panel	panel	NOUN
emaj-75	197	24	least	least	ADJ
emaj-75	197	25	squares	square	NOUN
emaj-75	197	26	date	date	NOUN
emaj-75	197	27	:	:	PUNCT
emaj-75	197	28	02/04/15	02/04/15	NUM
emaj-75	197	29	time	time	NOUN
emaj-75	197	30	:	:	PUNCT
emaj-75	197	31	13:36	13:36	NUM
emaj-75	197	32	sample	sample	NOUN
emaj-75	197	33	:	:	PUNCT
emaj-75	197	34	2008	2008	NUM
emaj-75	197	35	2014	2014	NUM
emaj-75	197	36	cross	cros	NOUN
emaj-75	197	37	-	-	ADJ
emaj-75	197	38	sections	section	NOUN
emaj-75	197	39	included	include	VERB
emaj-75	197	40	:	:	PUNCT
emaj-75	197	41	17	17	NUM
emaj-75	197	42	total	total	ADJ
emaj-75	197	43	panel	panel	NOUN
emaj-75	197	44	(	(	PUNCT
emaj-75	197	45	unbalanced	unbalanced	ADJ
emaj-75	197	46	)	)	PUNCT
emaj-75	197	47	observations	observation	NOUN
emaj-75	197	48	:	:	PUNCT
emaj-75	197	49	114	114	NUM
emaj-75	197	50	variable	variable	ADJ
emaj-75	197	51	coefficient	coefficient	NOUN
emaj-75	197	52	std	std	NOUN
emaj-75	197	53	.	.	NOUN
emaj-75	197	54	error	error	NOUN
emaj-75	197	55	t	t	NOUN
emaj-75	197	56	-	-	PUNCT
emaj-75	197	57	statistic	statistic	NOUN
emaj-75	197	58	prob	prob	NOUN
emaj-75	197	59	.	.	PUNCT
emaj-75	198	1	owner	owner	NOUN
emaj-75	198	2	-0.044871	-0.044871	PROPN
emaj-75	199	1	0.019282	0.019282	NUM
emaj-75	199	2	2.327154	2.327154	NUM
emaj-75	199	3	0.0223	0.0223	NUM
emaj-75	199	4	*	*	PUNCT
emaj-75	199	5	*	*	NOUN
emaj-75	199	6	ebittosales	ebittosale	NOUN
emaj-75	199	7	-5.787289	-5.787289	VERB
emaj-75	199	8	2.147322	2.147322	NUM
emaj-75	199	9	2.695120	2.695120	NUM
emaj-75	199	10	0.0084	0.0084	NUM
emaj-75	199	11	*	*	PUNCT
emaj-75	199	12	ebittocapital	ebittocapital	ADJ
emaj-75	199	13	17.21703	17.21703	NUM
emaj-75	199	14	1.919293	1.919293	NUM
emaj-75	199	15	8.970503	8.970503	NUM
emaj-75	199	16	0.0000	0.0000	NUM
emaj-75	199	17	*	*	PUNCT
emaj-75	200	1	c	c	PROPN
emaj-75	200	2	2.901417	2.901417	NUM
emaj-75	200	3	1.130206	1.130206	NUM
emaj-75	200	4	2.567158	2.567158	NUM
emaj-75	200	5	0.0119	0.0119	NUM
emaj-75	200	6	*	*	SYM
emaj-75	200	7	*	*	PROPN
emaj-75	200	8	effects	effect	NOUN
emaj-75	200	9	specification	specification	NOUN
emaj-75	200	10	cross	cross	ADJ
emaj-75	200	11	-	-	ADJ
emaj-75	200	12	section	section	NOUN
emaj-75	200	13	fixed	fix	VERB
emaj-75	200	14	(	(	PUNCT
emaj-75	200	15	dummy	dummy	ADJ
emaj-75	200	16	variables	variable	NOUN
emaj-75	200	17	)	)	PUNCT
emaj-75	200	18	period	period	NOUN
emaj-75	200	19	fixed	fix	VERB
emaj-75	200	20	(	(	PUNCT
emaj-75	200	21	dummy	dummy	ADJ
emaj-75	200	22	variables	variable	NOUN
emaj-75	200	23	)	)	PUNCT
emaj-75	200	24	r	r	X
emaj-75	200	25	-	-	PUNCT
emaj-75	200	26	squared	square	VERB
emaj-75	200	27	0.848528	0.848528	NUM
emaj-75	200	28	mean	mean	NOUN
emaj-75	200	29	dependent	dependent	ADJ
emaj-75	200	30	var	var	NOUN
emaj-75	200	31	2.387632	2.387632	NUM
emaj-75	200	32	adjusted	adjusted	ADJ
emaj-75	200	33	r	r	NOUN
emaj-75	200	34	-	-	PUNCT
emaj-75	200	35	squared	square	VERB
emaj-75	200	36	0.805496	0.805496	NUM
emaj-75	200	37	s.d	s.d	PROPN
emaj-75	200	38	.	.	PUNCT
emaj-75	200	39	dependent	dependent	ADJ
emaj-75	200	40	var	var	NOUN
emaj-75	200	41	3.329065	3.329065	NUM
emaj-75	200	42	s.e	s.e	PROPN
emaj-75	200	43	.	.	PROPN
emaj-75	200	44	of	of	ADP
emaj-75	200	45	regression	regression	NOUN
emaj-75	200	46	1.468203	1.468203	NUM
emaj-75	200	47	akaike	akaike	ADJ
emaj-75	200	48	info	info	NOUN
emaj-75	200	49	criterion	criterion	NOUN
emaj-75	200	50	3.803234	3.803234	NUM
emaj-75	200	51	sum	sum	NOUN
emaj-75	200	52	squared	square	VERB
emaj-75	200	53	resid	resid	NOUN
emaj-75	200	54	189.6945	189.6945	NUM
emaj-75	200	55	schwarz	schwarz	PROPN
emaj-75	200	56	criterion	criterion	NOUN
emaj-75	200	57	4.427279	4.427279	NUM
emaj-75	200	58	log	log	NOUN
emaj-75	200	59	likelihood	likelihood	NOUN
emaj-75	200	60	-190.7843	-190.7843	VERB
emaj-75	200	61	f	f	X
emaj-75	200	62	-	-	PUNCT
emaj-75	200	63	statistic	statistic	ADJ
emaj-75	200	64	19.71865	19.71865	NUM
emaj-75	200	65	durbin	durbin	ADJ
emaj-75	200	66	-	-	PUNCT
emaj-75	200	67	watson	watson	NOUN
emaj-75	200	68	stat	stat	PROPN
emaj-75	200	69	1.962473	1.962473	NUM
emaj-75	200	70	prob(f	prob(f	NOUN
emaj-75	200	71	-	-	PUNCT
emaj-75	200	72	statistic	statistic	NOUN
emaj-75	200	73	)	)	PUNCT
emaj-75	200	74	0.000000	0.000000	NUM
emaj-75	200	75	notes	note	VERB
emaj-75	200	76	:	:	PUNCT
emaj-75	200	77	*	*	PUNCT
emaj-75	200	78	significant	significant	ADJ
emaj-75	200	79	at	at	ADP
emaj-75	200	80	1	1	NUM
emaj-75	200	81	percent	percent	NOUN
emaj-75	200	82	(	(	PUNCT
emaj-75	200	83	p<0.01	p<0.01	PROPN
emaj-75	200	84	)	)	PUNCT
emaj-75	200	85	,	,	PUNCT
emaj-75	200	86	*	*	PUNCT
emaj-75	200	87	*	*	PUNCT
emaj-75	200	88	significant	significant	ADJ
emaj-75	200	89	at	at	ADP
emaj-75	200	90	5	5	NUM
emaj-75	200	91	percent	percent	NOUN
emaj-75	200	92	(	(	PUNCT
emaj-75	200	93	p<0.05	p<0.05	NOUN
emaj-75	200	94	)	)	PUNCT
emaj-75	201	1	v.	v.	ADP
emaj-75	201	2	conclusion	conclusion	NOUN
emaj-75	201	3	this	this	DET
emaj-75	201	4	study	study	NOUN
emaj-75	201	5	demonstrated	demonstrate	VERB
emaj-75	201	6	that	that	SCONJ
emaj-75	201	7	large	large	ADJ
emaj-75	201	8	shareholders	shareholder	NOUN
emaj-75	201	9	and	and	CCONJ
emaj-75	201	10	concentrated	concentrated	ADJ
emaj-75	201	11	ownership	ownership	NOUN
emaj-75	201	12	of	of	ADP
emaj-75	201	13	the	the	DET
emaj-75	201	14	firms	firm	NOUN
emaj-75	201	15	would	would	AUX
emaj-75	201	16	actually	actually	ADV
emaj-75	201	17	lead	lead	VERB
emaj-75	201	18	to	to	ADP
emaj-75	201	19	different	different	ADJ
emaj-75	201	20	financial	financial	ADJ
emaj-75	201	21	performances	performance	NOUN
emaj-75	201	22	.	.	PUNCT
emaj-75	202	1	the	the	DET
emaj-75	202	2	statistical	statistical	ADJ
emaj-75	202	3	population	population	NOUN
emaj-75	202	4	in	in	ADP
emaj-75	202	5	this	this	DET
emaj-75	202	6	study	study	NOUN
emaj-75	202	7	includes	include	VERB
emaj-75	202	8	19	19	NUM
emaj-75	202	9	nonfinancial	nonfinancial	ADJ
emaj-75	202	10	companies	company	NOUN
emaj-75	202	11	in	in	ADP
emaj-75	202	12	the	the	DET
emaj-75	202	13	period	period	NOUN
emaj-75	202	14	of	of	ADP
emaj-75	202	15	years	year	NOUN
emaj-75	202	16	between	between	ADP
emaj-75	202	17	2008	2008	NUM
emaj-75	202	18	and	and	CCONJ
emaj-75	202	19	2013	2013	NUM
emaj-75	202	20	in	in	ADP
emaj-75	202	21	bist	bist	ADJ
emaj-75	202	22	30	30	NUM
emaj-75	202	23	stock	stock	NOUN
emaj-75	202	24	exchange	exchange	NOUN
emaj-75	202	25	,	,	PUNCT
emaj-75	202	26	which	which	PRON
emaj-75	202	27	are	be	AUX
emaj-75	202	28	the	the	DET
emaj-75	202	29	biggest	big	ADJ
emaj-75	202	30	open	open	ADJ
emaj-75	202	31	to	to	ADP
emaj-75	202	32	public	public	ADJ
emaj-75	202	33	companies	company	NOUN
emaj-75	202	34	according	accord	VERB
emaj-75	202	35	to	to	ADP
emaj-75	202	36	firm	firm	ADJ
emaj-75	202	37	size	size	NOUN
emaj-75	202	38	by	by	ADP
emaj-75	202	39	their	their	PRON
emaj-75	202	40	volume	volume	NOUN
emaj-75	202	41	in	in	ADP
emaj-75	202	42	turkish	turkish	ADJ
emaj-75	202	43	stock	stock	NOUN
emaj-75	202	44	market	market	NOUN
emaj-75	202	45	.	.	PUNCT
emaj-75	203	1	according	accord	VERB
emaj-75	203	2	to	to	ADP
emaj-75	203	3	test	test	NOUN
emaj-75	203	4	results	result	NOUN
emaj-75	203	5	,	,	PUNCT
emaj-75	203	6	there	there	PRON
emaj-75	203	7	is	be	VERB
emaj-75	203	8	a	a	DET
emaj-75	203	9	significant	significant	ADJ
emaj-75	203	10	relationship	relationship	NOUN
emaj-75	203	11	between	between	ADP
emaj-75	203	12	turkish	turkish	ADJ
emaj-75	203	13	bist	bist	NOUN
emaj-75	203	14	30	30	NUM
emaj-75	203	15	non	non	ADJ
emaj-75	203	16	-	-	ADJ
emaj-75	203	17	financial	financial	ADJ
emaj-75	203	18	companies	company	NOUN
emaj-75	203	19	’	’	PART
emaj-75	203	20	ownerships	ownership	NOUN
emaj-75	203	21	structure	structure	NOUN
emaj-75	203	22	and	and	CCONJ
emaj-75	203	23	their	their	PRON
emaj-75	203	24	performances	performance	NOUN
emaj-75	203	25	.	.	PUNCT
emaj-75	204	1	references	reference	NOUN
emaj-75	204	2	azofra	azofra	NOUN
emaj-75	204	3	,	,	PUNCT
emaj-75	204	4	v.	v.	ADV
emaj-75	204	5	,	,	PUNCT
emaj-75	204	6	santa	santa	PROPN
emaj-75	204	7	maria	maria	PROPN
emaj-75	204	8	,	,	PUNCT
emaj-75	204	9	m.	m.	NOUN
emaj-75	204	10	,	,	PUNCT
emaj-75	204	11	(	(	PUNCT
emaj-75	204	12	2011)ownership	2011)ownership	NOUN
emaj-75	204	13	,	,	PUNCT
emaj-75	204	14	control	control	NOUN
emaj-75	204	15	,	,	PUNCT
emaj-75	204	16	and	and	CCONJ
emaj-75	204	17	pyramids	pyramid	NOUN
emaj-75	204	18	in	in	ADP
emaj-75	204	19	spanish	spanish	ADJ
emaj-75	204	20	commercial	commercial	ADJ
emaj-75	204	21	banks	bank	NOUN
emaj-75	204	22	.	.	PUNCT
emaj-75	205	1	journal	journal	NOUN
emaj-75	205	2	of	of	ADP
emaj-75	205	3	banking	banking	NOUN
emaj-75	205	4	and	and	CCONJ
emaj-75	205	5	finance	finance	NOUN
emaj-75	205	6	,	,	PUNCT
emaj-75	205	7	35(6	35(6	NUM
emaj-75	205	8	)	)	PUNCT
emaj-75	205	9	,	,	PUNCT
emaj-75	205	10	1464	1464	NUM
emaj-75	205	11	-	-	SYM
emaj-75	205	12	1476	1476	NUM
emaj-75	205	13	.	.	PUNCT
emaj-75	206	1	börsch	börsch	NOUN
emaj-75	206	2	-	-	PUNCT
emaj-75	206	3	supan	supan	NOUN
emaj-75	206	4	,	,	PUNCT
emaj-75	206	5	a.	a.	PROPN
emaj-75	206	6	&	&	CCONJ
emaj-75	206	7	köke	köke	PROPN
emaj-75	206	8	,	,	PUNCT
emaj-75	206	9	j.	j.	PROPN
emaj-75	206	10	(	(	PUNCT
emaj-75	206	11	2002	2002	NUM
emaj-75	206	12	)	)	PUNCT
emaj-75	206	13	an	an	DET
emaj-75	206	14	applied	apply	VERB
emaj-75	206	15	econometricians	econometrician	NOUN
emaj-75	206	16	’	'	PUNCT
emaj-75	206	17	view	view	NOUN
emaj-75	206	18	of	of	ADP
emaj-75	206	19	empirical	empirical	ADJ
emaj-75	206	20	corporat	corporat	NOUN
emaj-75	206	21	governance	governance	NOUN
emaj-75	206	22	studies	study	NOUN
emaj-75	206	23	.	.	PUNCT
emaj-75	207	1	german	german	ADJ
emaj-75	207	2	economic	economic	ADJ
emaj-75	207	3	review	review	NOUN
emaj-75	207	4	,	,	PUNCT
emaj-75	207	5	3	3	NUM
emaj-75	207	6	(	(	PUNCT
emaj-75	207	7	3	3	NUM
emaj-75	207	8	)	)	PUNCT
emaj-75	207	9	,	,	PUNCT
emaj-75	207	10	295	295	NUM
emaj-75	207	11	-	-	SYM
emaj-75	207	12	323	323	NUM
emaj-75	207	13	.	.	PUNCT
emaj-75	208	1	brooks	brooks	PROPN
emaj-75	208	2	,	,	PUNCT
emaj-75	208	3	chris	chris	PROPN
emaj-75	208	4	,	,	PUNCT
emaj-75	208	5	2008	2008	NUM
emaj-75	208	6	,	,	PUNCT
emaj-75	208	7	introductory	introductory	ADJ
emaj-75	208	8	econometrics	econometric	NOUN
emaj-75	208	9	for	for	ADP
emaj-75	208	10	finance	finance	NOUN
emaj-75	208	11	,	,	PUNCT
emaj-75	208	12	cambridge	cambridge	PROPN
emaj-75	208	13	university	university	PROPN
emaj-75	208	14	press	press	NOUN
emaj-75	208	15	,	,	PUNCT
emaj-75	208	16	second	second	ADJ
emaj-75	208	17	edition	edition	NOUN
emaj-75	208	18	cornett	cornett	PROPN
emaj-75	208	19	,	,	PUNCT
emaj-75	208	20	m.m	m.m	PROPN
emaj-75	208	21	.	.	PROPN
emaj-75	208	22	,	,	PUNCT
emaj-75	208	23	a.j	a.j	PROPN
emaj-75	208	24	.	.	PROPN
emaj-75	208	25	marcus	marcus	PROPN
emaj-75	208	26	and	and	CCONJ
emaj-75	208	27	h.	h.	PROPN
emaj-75	208	28	tehranian	tehranian	PROPN
emaj-75	208	29	.	.	PUNCT
emaj-75	209	1	2008	2008	NUM
emaj-75	209	2	.	.	PUNCT
emaj-75	210	1	corporate	corporate	ADJ
emaj-75	210	2	governance	governance	NOUN
emaj-75	210	3	and	and	CCONJ
emaj-75	210	4	payfor	payfor	NOUN
emaj-75	210	5	-	-	PUNCT
emaj-75	210	6	performance	performance	NOUN
emaj-75	210	7	:	:	PUNCT
emaj-75	210	8	the	the	DET
emaj-75	210	9	impact	impact	NOUN
emaj-75	210	10	of	of	ADP
emaj-75	210	11	earnings	earning	NOUN
emaj-75	210	12	management	management	NOUN
emaj-75	210	13	.	.	PUNCT
emaj-75	211	1	j.	j.	PROPN
emaj-75	211	2	financial	financial	PROPN
emaj-75	211	3	econ	econ	PROPN
emaj-75	211	4	..	..	PUNCT
emaj-75	211	5	87	87	NUM
emaj-75	211	6	:	:	PUNCT
emaj-75	211	7	357	357	NUM
emaj-75	211	8	-	-	SYM
emaj-75	211	9	373	373	NUM
emaj-75	211	10	.	.	PUNCT
emaj-75	212	1	volume	volume	NOUN
emaj-75	212	2	5	5	NUM
emaj-75	212	3	no	no	DET
emaj-75	212	4	2	2	NUM
emaj-75	212	5	(	(	PUNCT
emaj-75	212	6	2015	2015	NUM
emaj-75	212	7	)	)	PUNCT
emaj-75	212	8	|	|	ADV
emaj-75	212	9	issn	issn	VERB
emaj-75	212	10	2158	2158	NUM
emaj-75	212	11	-	-	SYM
emaj-75	212	12	8708	8708	NUM
emaj-75	212	13	(	(	PUNCT
emaj-75	212	14	online	online	NOUN
emaj-75	212	15	)	)	PUNCT
emaj-75	212	16	|	|	ADV
emaj-75	212	17	doi	doi	X
emaj-75	212	18	10.5195	10.5195	NUM
emaj-75	212	19	/	/	SYM
emaj-75	212	20	emaj.2015.75	emaj.2015.75	NOUN
emaj-75	212	21	|	|	ADV
emaj-75	212	22	http://emaj.pitt	http://emaj.pitt	VERB
emaj-75	212	23	.	.	PUNCT
emaj-75	213	1	the	the	DET
emaj-75	213	2	relationship	relationship	NOUN
emaj-75	213	3	between	between	ADP
emaj-75	213	4	corporate	corporate	ADJ
emaj-75	213	5	performance	performance	NOUN
emaj-75	213	6	and	and	CCONJ
emaj-75	213	7	ownership	ownership	NOUN
emaj-75	213	8	structure	structure	NOUN
emaj-75	213	9	:	:	PUNCT
emaj-75	213	10	evidence	evidence	NOUN
emaj-75	213	11	from	from	ADP
emaj-75	213	12	turkey	turkey	NOUN
emaj-75	213	13	page	page	NOUN
emaj-75	213	14	|16|	|16|	VERB
emaj-75	213	15	emerging	emerge	VERB
emaj-75	213	16	markets	market	NOUN
emaj-75	213	17	journal	journal	PROPN
emaj-75	213	18	cornett	cornett	PROPN
emaj-75	213	19	,	,	PUNCT
emaj-75	213	20	m.m	m.m	PROPN
emaj-75	213	21	.	.	PROPN
emaj-75	213	22	,	,	PUNCT
emaj-75	213	23	a.j	a.j	PROPN
emaj-75	213	24	.	.	PROPN
emaj-75	213	25	marcus	marcus	PROPN
emaj-75	213	26	,	,	PUNCT
emaj-75	213	27	a.	a.	NOUN
emaj-75	213	28	saunders	saunder	NOUN
emaj-75	213	29	and	and	CCONJ
emaj-75	213	30	h.	h.	PROPN
emaj-75	213	31	tehranian	tehranian	PROPN
emaj-75	213	32	,	,	PUNCT
emaj-75	213	33	2007.the	2007.the	DET
emaj-75	213	34	impact	impact	NOUN
emaj-75	213	35	of	of	ADP
emaj-75	213	36	institutional	institutional	ADJ
emaj-75	213	37	ownership	ownership	NOUN
emaj-75	213	38	on	on	ADP
emaj-75	213	39	corporate	corporate	ADJ
emaj-75	213	40	operating	operating	NOUN
emaj-75	213	41	performance	performance	NOUN
emaj-75	213	42	.	.	PUNCT
emaj-75	214	1	j.	j.	PROPN
emaj-75	214	2	banking	banking	PROPN
emaj-75	214	3	finance	finance	NOUN
emaj-75	214	4	,	,	PUNCT
emaj-75	214	5	31	31	NUM
emaj-75	214	6	:	:	PUNCT
emaj-75	214	7	1771	1771	NUM
emaj-75	214	8	-	-	SYM
emaj-75	214	9	1794	1794	NUM
emaj-75	214	10	.	.	PUNCT
emaj-75	215	1	claessens	claessen	NOUN
emaj-75	215	2	,	,	PUNCT
emaj-75	215	3	s.	s.	PROPN
emaj-75	215	4	,	,	PUNCT
emaj-75	215	5	djankov	djankov	PROPN
emaj-75	215	6	s.	s.	PROPN
emaj-75	215	7	,	,	PUNCT
emaj-75	215	8	fan	fan	PROPN
emaj-75	215	9	,	,	PUNCT
emaj-75	215	10	j.p.h	j.p.h	PROPN
emaj-75	215	11	.	.	PROPN
emaj-75	215	12	&	&	CCONJ
emaj-75	215	13	lang	lang	PROPN
emaj-75	215	14	,	,	PUNCT
emaj-75	215	15	l.h.p	l.h.p	PROPN
emaj-75	215	16	.	.	PUNCT
emaj-75	215	17	(	(	PUNCT
emaj-75	215	18	2002	2002	NUM
emaj-75	215	19	)	)	PUNCT
emaj-75	215	20	.	.	PUNCT
emaj-75	216	1	diesntangling	diesntangle	VERB
emaj-75	216	2	the	the	DET
emaj-75	216	3	incentive	incentive	NOUN
emaj-75	216	4	and	and	CCONJ
emaj-75	216	5	entrenchment	entrenchment	ADJ
emaj-75	216	6	effects	effect	NOUN
emaj-75	216	7	of	of	ADP
emaj-75	216	8	large	large	ADJ
emaj-75	216	9	shareholdings	shareholding	NOUN
emaj-75	216	10	.	.	PUNCT
emaj-75	217	1	the	the	DET
emaj-75	217	2	journal	journal	PROPN
emaj-75	217	3	of	of	ADP
emaj-75	217	4	finance	finance	NOUN
emaj-75	217	5	,	,	PUNCT
emaj-75	217	6	57	57	NUM
emaj-75	217	7	(	(	PUNCT
emaj-75	217	8	6	6	NUM
emaj-75	217	9	)	)	PUNCT
emaj-75	217	10	,	,	PUNCT
emaj-75	217	11	2741	2741	NUM
emaj-75	217	12	-	-	SYM
emaj-75	217	13	2771	2771	NUM
emaj-75	217	14	)	)	PUNCT
emaj-75	217	15	craswell	craswell	ADJ
emaj-75	217	16	,	,	PUNCT
emaj-75	217	17	taylor	taylor	PROPN
emaj-75	217	18	and	and	CCONJ
emaj-75	217	19	saywell	saywell	PROPN
emaj-75	217	20	,	,	PUNCT
emaj-75	217	21	1997	1997	NUM
emaj-75	217	22	,	,	PUNCT
emaj-75	217	23	ownership	ownership	NOUN
emaj-75	217	24	structer	structer	NOUN
emaj-75	217	25	and	and	CCONJ
emaj-75	217	26	corporate	corporate	ADJ
emaj-75	217	27	performance	performance	NOUN
emaj-75	217	28	:	:	PUNCT
emaj-75	217	29	australian	australian	ADJ
emaj-75	217	30	evidence	evidence	NOUN
emaj-75	217	31	,	,	PUNCT
emaj-75	217	32	pasific	pasific	NOUN
emaj-75	217	33	-	-	PUNCT
emaj-75	217	34	basin	basin	NOUN
emaj-75	217	35	finace	finace	NOUN
emaj-75	217	36	journal	journal	NOUN
emaj-75	217	37	5	5	NUM
emaj-75	217	38	,	,	PUNCT
emaj-75	217	39	301321	301321	NUM
emaj-75	217	40	.	.	PUNCT
emaj-75	218	1	demsetz	demsetz	VERB
emaj-75	218	2	,	,	PUNCT
emaj-75	218	3	h.	h.	PROPN
emaj-75	218	4	&	&	CCONJ
emaj-75	218	5	lehn	lehn	PROPN
emaj-75	218	6	.	.	PUNCT
emaj-75	219	1	k.	k.	PROPN
emaj-75	219	2	,	,	PUNCT
emaj-75	219	3	(	(	PUNCT
emaj-75	219	4	1985	1985	NUM
emaj-75	219	5	)	)	PUNCT
emaj-75	219	6	,	,	PUNCT
emaj-75	219	7	the	the	DET
emaj-75	219	8	structure	structure	NOUN
emaj-75	219	9	of	of	ADP
emaj-75	219	10	corporate	corporate	ADJ
emaj-75	219	11	ownership	ownership	NOUN
emaj-75	219	12	:	:	PUNCT
emaj-75	219	13	causes	cause	NOUN
emaj-75	219	14	and	and	CCONJ
emaj-75	219	15	consequences	consequence	NOUN
emaj-75	219	16	.	.	PUNCT
emaj-75	220	1	journal	journal	NOUN
emaj-75	220	2	of	of	ADP
emaj-75	220	3	political	political	ADJ
emaj-75	220	4	economy	economy	NOUN
emaj-75	220	5	.	.	PUNCT
emaj-75	221	1	93	93	NUM
emaj-75	221	2	,	,	PUNCT
emaj-75	221	3	1155	1155	NUM
emaj-75	221	4	-	-	SYM
emaj-75	221	5	1177	1177	NUM
emaj-75	221	6	.	.	PUNCT
emaj-75	222	1	dracor	dracor	PROPN
emaj-75	222	2	,	,	PUNCT
emaj-75	222	3	a.	a.	PROPN
emaj-75	222	4	&	&	CCONJ
emaj-75	222	5	bekiris	bekiris	PROPN
emaj-75	222	6	,	,	PUNCT
emaj-75	222	7	f.	f.	PROPN
emaj-75	222	8	v.	v.	PROPN
emaj-75	222	9	(	(	PUNCT
emaj-75	222	10	2010	2010	NUM
emaj-75	222	11	)	)	PUNCT
emaj-75	222	12	.	.	PUNCT
emaj-75	223	1	corporate	corporate	ADJ
emaj-75	223	2	performance	performance	NOUN
emaj-75	223	3	,	,	PUNCT
emaj-75	223	4	managerial	managerial	ADJ
emaj-75	223	5	ownership	ownership	NOUN
emaj-75	223	6	and	and	CCONJ
emaj-75	223	7	endogeneity	endogeneity	NOUN
emaj-75	223	8	:	:	PUNCT
emaj-75	223	9	a	a	DET
emaj-75	223	10	smultaneous	smultaneous	ADJ
emaj-75	223	11	equation	equation	NOUN
emaj-75	223	12	analysis	analysis	NOUN
emaj-75	223	13	for	for	ADP
emaj-75	223	14	the	the	DET
emaj-75	223	15	athens	athens	PROPN
emaj-75	223	16	stock	stock	PROPN
emaj-75	223	17	exchance	exchance	PROPN
emaj-75	223	18	.	.	PUNCT
emaj-75	224	1	research	research	NOUN
emaj-75	224	2	in	in	ADP
emaj-75	224	3	international	international	ADJ
emaj-75	224	4	business	business	NOUN
emaj-75	224	5	and	and	CCONJ
emaj-75	224	6	finance	finance	NOUN
emaj-75	224	7	,	,	PUNCT
emaj-75	224	8	24	24	NUM
emaj-75	224	9	(	(	PUNCT
emaj-75	224	10	1	1	NUM
emaj-75	224	11	)	)	PUNCT
emaj-75	224	12	,	,	PUNCT
emaj-75	224	13	24	24	NUM
emaj-75	224	14	-	-	SYM
emaj-75	224	15	38	38	NUM
emaj-75	224	16	.	.	PUNCT
emaj-75	225	1	faccio	faccio	PROPN
emaj-75	225	2	,	,	PUNCT
emaj-75	225	3	m.	m.	PROPN
emaj-75	225	4	&	&	CCONJ
emaj-75	225	5	lan	lan	PROPN
emaj-75	225	6	,	,	PUNCT
emaj-75	225	7	l.h.p	l.h.p	NOUN
emaj-75	225	8	.	.	PROPN
emaj-75	225	9	,	,	PUNCT
emaj-75	225	10	2002	2002	NUM
emaj-75	225	11	.	.	PUNCT
emaj-75	226	1	the	the	DET
emaj-75	226	2	ultimate	ultimate	ADJ
emaj-75	226	3	ownership	ownership	NOUN
emaj-75	226	4	of	of	ADP
emaj-75	226	5	western	western	ADJ
emaj-75	226	6	european	european	PROPN
emaj-75	226	7	corporations.journal	corporations.journal	PROPN
emaj-75	226	8	of	of	ADP
emaj-75	226	9	financial	financial	ADJ
emaj-75	226	10	economics	economic	NOUN
emaj-75	226	11	.	.	PUNCT
emaj-75	227	1	65	65	NUM
emaj-75	227	2	:	:	PUNCT
emaj-75	227	3	365	365	NUM
emaj-75	227	4	-	-	SYM
emaj-75	227	5	395	395	NUM
emaj-75	227	6	.	.	PUNCT
emaj-75	228	1	fahlenbrach	fahlenbrach	PROPN
emaj-75	228	2	,	,	PUNCT
emaj-75	228	3	r.	r.	PROPN
emaj-75	228	4	,	,	PUNCT
emaj-75	228	5	&	&	CCONJ
emaj-75	228	6	stulz	stulz	ADJ
emaj-75	228	7	,	,	PUNCT
emaj-75	228	8	r.m	r.m	PROPN
emaj-75	228	9	.	.	PROPN
emaj-75	228	10	(	(	PUNCT
emaj-75	228	11	2009	2009	NUM
emaj-75	228	12	)	)	PUNCT
emaj-75	228	13	,	,	PUNCT
emaj-75	228	14	managerial	managerial	ADJ
emaj-75	228	15	ownership	ownership	NOUN
emaj-75	228	16	dynamics	dynamic	NOUN
emaj-75	228	17	and	and	CCONJ
emaj-75	228	18	firm	firm	ADJ
emaj-75	228	19	value	value	NOUN
emaj-75	228	20	.	.	PUNCT
emaj-75	229	1	journal	journal	NOUN
emaj-75	229	2	of	of	ADP
emaj-75	229	3	financial	financial	ADJ
emaj-75	229	4	economics	economic	NOUN
emaj-75	229	5	,	,	PUNCT
emaj-75	229	6	92	92	NUM
emaj-75	229	7	(	(	PUNCT
emaj-75	229	8	3	3	NUM
emaj-75	229	9	)	)	PUNCT
emaj-75	229	10	,	,	PUNCT
emaj-75	229	11	342	342	NUM
emaj-75	229	12	-	-	SYM
emaj-75	229	13	361	361	NUM
emaj-75	229	14	.	.	PUNCT
emaj-75	230	1	garcia	garcia	PROPN
emaj-75	230	2	-	-	PUNCT
emaj-75	230	3	meca	meca	PROPN
emaj-75	230	4	,	,	PUNCT
emaj-75	230	5	e.	e.	PROPN
emaj-75	230	6	&	&	CCONJ
emaj-75	230	7	sanchez	sanchez	PROPN
emaj-75	230	8	-	-	PUNCT
emaj-75	230	9	ballesta	ballesta	PROPN
emaj-75	230	10	,	,	PUNCT
emaj-75	230	11	j.p	j.p	PROPN
emaj-75	230	12	.	.	PROPN
emaj-75	230	13	(	(	PUNCT
emaj-75	230	14	2011).firm	2011).firm	NUM
emaj-75	230	15	value	value	NOUN
emaj-75	230	16	and	and	CCONJ
emaj-75	230	17	ownership	ownership	NOUN
emaj-75	230	18	structure	structure	NOUN
emaj-75	230	19	in	in	ADP
emaj-75	230	20	spanşsh	spanşsh	ADJ
emaj-75	230	21	capital	capital	NOUN
emaj-75	230	22	market	market	NOUN
emaj-75	230	23	.	.	PUNCT
emaj-75	231	1	corporate	corporate	ADJ
emaj-75	231	2	governance	governance	NOUN
emaj-75	231	3	,	,	PUNCT
emaj-75	231	4	11	11	NUM
emaj-75	231	5	(	(	PUNCT
emaj-75	231	6	1	1	NUM
emaj-75	231	7	)	)	PUNCT
emaj-75	231	8	,	,	PUNCT
emaj-75	231	9	41	41	NUM
emaj-75	231	10	-	-	SYM
emaj-75	231	11	53	53	NUM
emaj-75	231	12	.	.	PUNCT
emaj-75	232	1	gugler	gugler	NOUN
emaj-75	232	2	,	,	PUNCT
emaj-75	232	3	k.	k.	PROPN
emaj-75	232	4	,	,	PUNCT
emaj-75	232	5	mueller	mueller	PROPN
emaj-75	232	6	,	,	PUNCT
emaj-75	232	7	d.c	d.c	PROPN
emaj-75	232	8	.	.	PROPN
emaj-75	233	1	and	and	CCONJ
emaj-75	233	2	yurtoğlu	yurtoğlu	PROPN
emaj-75	233	3	,	,	PUNCT
emaj-75	233	4	b.b	b.b	PROPN
emaj-75	233	5	.	.	PROPN
emaj-75	233	6	(	(	PUNCT
emaj-75	233	7	2008	2008	NUM
emaj-75	233	8	)	)	PUNCT
emaj-75	233	9	.	.	PUNCT
emaj-75	234	1	insider	insider	NOUN
emaj-75	234	2	ownership	ownership	NOUN
emaj-75	234	3	,	,	PUNCT
emaj-75	234	4	ownership	ownership	NOUN
emaj-75	234	5	concentration	concentration	NOUN
emaj-75	234	6	and	and	CCONJ
emaj-75	234	7	investment	investment	NOUN
emaj-75	234	8	performance	performance	NOUN
emaj-75	234	9	:	:	PUNCT
emaj-75	234	10	an	an	DET
emaj-75	234	11	international	international	ADJ
emaj-75	234	12	comparison	comparison	NOUN
emaj-75	234	13	.	.	PUNCT
emaj-75	235	1	journal	journal	NOUN
emaj-75	235	2	of	of	ADP
emaj-75	235	3	corporate	corporate	ADJ
emaj-75	235	4	finance	finance	NOUN
emaj-75	235	5	.	.	PUNCT
emaj-75	236	1	14	14	NUM
emaj-75	236	2	(	(	PUNCT
emaj-75	236	3	5	5	NUM
emaj-75	236	4	)	)	PUNCT
emaj-75	236	5	,	,	PUNCT
emaj-75	236	6	688	688	NUM
emaj-75	236	7	-	-	SYM
emaj-75	236	8	705	705	NUM
emaj-75	236	9	.	.	PUNCT
emaj-75	237	1	gürbüz	gürbüz	PROPN
emaj-75	237	2	,	,	PUNCT
emaj-75	237	3	a.	a.	NOUN
emaj-75	237	4	osman	osman	PROPN
emaj-75	237	5	,	,	PUNCT
emaj-75	237	6	aslı	aslı	PROPN
emaj-75	237	7	aybars	aybar	NOUN
emaj-75	237	8	.	.	PUNCT
emaj-75	238	1	özlemkutlu	özlemkutlu	PROPN
emaj-75	238	2	.	.	PUNCT
emaj-75	239	1	2010	2010	NUM
emaj-75	239	2	.	.	PUNCT
emaj-75	240	1	corporate	corporate	ADJ
emaj-75	240	2	governance	governance	NOUN
emaj-75	240	3	and	and	CCONJ
emaj-75	240	4	financial	financial	ADJ
emaj-75	240	5	performance	performance	NOUN
emaj-75	240	6	with	with	ADP
emaj-75	240	7	a	a	DET
emaj-75	240	8	perspective	perspective	NOUN
emaj-75	240	9	on	on	ADP
emaj-75	240	10	institutional	institutional	ADJ
emaj-75	240	11	ownership	ownership	NOUN
emaj-75	240	12	:	:	PUNCT
emaj-75	240	13	empirical	empirical	ADJ
emaj-75	240	14	evidence	evidence	NOUN
emaj-75	240	15	from	from	ADP
emaj-75	240	16	turkey	turkey	PROPN
emaj-75	240	17	.	.	PUNCT
emaj-75	241	1	journal	journal	PROPN
emaj-75	241	2	of	of	ADP
emaj-75	241	3	applied	apply	VERB
emaj-75	241	4	management	management	NOUN
emaj-75	241	5	accounting	accounting	NOUN
emaj-75	241	6	research	research	NOUN
emaj-75	241	7	.	.	PUNCT
emaj-75	242	1	vol	vol	NOUN
emaj-75	242	2	.	.	PROPN
emaj-75	242	3	8	8	NUM
emaj-75	243	1	no	no	NOUN
emaj-75	243	2	.	.	NOUN
emaj-75	243	3	2	2	NUM
emaj-75	243	4	jensen	jensen	PROPN
emaj-75	243	5	,	,	PUNCT
emaj-75	243	6	m.	m.	PROPN
emaj-75	243	7	c.	c.	PROPN
emaj-75	243	8	&	&	CCONJ
emaj-75	243	9	meckling	meckling	PROPN
emaj-75	243	10	,	,	PUNCT
emaj-75	243	11	w.	w.	PROPN
emaj-75	243	12	1976	1976	NUM
emaj-75	243	13	.	.	PUNCT
emaj-75	244	1	theory	theory	NOUN
emaj-75	244	2	of	of	ADP
emaj-75	244	3	the	the	DET
emaj-75	244	4	firm	firm	NOUN
emaj-75	244	5	:	:	PUNCT
emaj-75	244	6	managerial	managerial	ADJ
emaj-75	244	7	behavior	behavior	NOUN
emaj-75	244	8	,	,	PUNCT
emaj-75	244	9	agency	agency	NOUN
emaj-75	244	10	costs	cost	NOUN
emaj-75	244	11	,	,	PUNCT
emaj-75	244	12	and	and	CCONJ
emaj-75	244	13	ownership	ownership	NOUN
emaj-75	244	14	structure	structure	NOUN
emaj-75	244	15	.	.	PUNCT
emaj-75	245	1	journal	journal	NOUN
emaj-75	245	2	of	of	ADP
emaj-75	245	3	financial	financial	ADJ
emaj-75	245	4	economic	economic	ADJ
emaj-75	245	5	.	.	PUNCT
emaj-75	246	1	3	3	X
emaj-75	246	2	.	.	X
emaj-75	246	3	305	305	NUM
emaj-75	246	4	-	-	SYM
emaj-75	246	5	350	350	NUM
emaj-75	246	6	.	.	PUNCT
emaj-75	247	1	volume	volume	NOUN
emaj-75	247	2	5	5	NUM
emaj-75	247	3	no	no	DET
emaj-75	247	4	2	2	NUM
emaj-75	247	5	(	(	PUNCT
emaj-75	247	6	2015	2015	NUM
emaj-75	247	7	)	)	PUNCT
emaj-75	247	8	|	|	ADV
emaj-75	247	9	issn	issn	VERB
emaj-75	247	10	2158	2158	NUM
emaj-75	247	11	-	-	SYM
emaj-75	247	12	8708	8708	NUM
emaj-75	247	13	(	(	PUNCT
emaj-75	247	14	online	online	NOUN
emaj-75	247	15	)	)	PUNCT
emaj-75	247	16	|	|	ADV
emaj-75	247	17	doi	doi	X
emaj-75	247	18	10.5195	10.5195	NUM
emaj-75	247	19	/	/	SYM
emaj-75	247	20	emaj.2015.75	emaj.2015.75	NOUN
emaj-75	248	1	|	|	NOUN
emaj-75	248	2	http://emaj.pitt.edu	http://emaj.pitt.edu	PROPN
emaj-75	248	3	hicabi	hicabi	NOUN
emaj-75	248	4	ersoy	ersoy	NOUN
emaj-75	248	5	,	,	PUNCT
emaj-75	248	6	ayben	ayben	PROPN
emaj-75	248	7	koy	koy	VERB
emaj-75	248	8	emerging	emerge	VERB
emaj-75	248	9	markets	market	NOUN
emaj-75	248	10	journal	journal	NOUN
emaj-75	249	1	|	|	ADV
emaj-75	249	2	p	p	NOUN
emaj-75	249	3	a	a	DET
emaj-75	249	4	g	g	NOUN
emaj-75	249	5	e	e	NOUN
emaj-75	249	6	|17	|17	NUM
emaj-75	249	7	jin	jin	PROPN
emaj-75	249	8	-	-	PUNCT
emaj-75	249	9	hui	hui	PROPN
emaj-75	249	10	luo	luo	PROPN
emaj-75	249	11	,	,	PUNCT
emaj-75	249	12	di	di	NOUN
emaj-75	249	13	-	-	PUNCT
emaj-75	249	14	fang	fang	X
emaj-75	249	15	wan	wan	PROPN
emaj-75	249	16	,	,	PUNCT
emaj-75	249	17	di	di	X
emaj-75	249	18	cai	cai	PROPN
emaj-75	249	19	and	and	CCONJ
emaj-75	249	20	heng	heng	PROPN
emaj-75	249	21	liu	liu	PROPN
emaj-75	249	22	.	.	PUNCT
emaj-75	250	1	multiple	multiple	ADJ
emaj-75	250	2	large	large	ADJ
emaj-75	250	3	shareholder	shareholder	NOUN
emaj-75	250	4	structure	structure	NOUN
emaj-75	250	5	and	and	CCONJ
emaj-75	250	6	governance	governance	NOUN
emaj-75	250	7	:	:	PUNCT
emaj-75	250	8	the	the	DET
emaj-75	250	9	role	role	NOUN
emaj-75	250	10	of	of	ADP
emaj-75	250	11	shareholder	shareholder	NOUN
emaj-75	250	12	numbers	number	NOUN
emaj-75	250	13	,	,	PUNCT
emaj-75	250	14	contest	contest	VERB
emaj-75	250	15	for	for	ADP
emaj-75	250	16	control	control	NOUN
emaj-75	250	17	,	,	PUNCT
emaj-75	250	18	and	and	CCONJ
emaj-75	250	19	formal	formal	ADJ
emaj-75	250	20	institutions	institution	NOUN
emaj-75	250	21	in	in	ADP
emaj-75	250	22	chinese	chinese	ADJ
emaj-75	250	23	family	family	NOUN
emaj-75	250	24	firms	firm	NOUN
emaj-75	250	25	.	.	PUNCT
emaj-75	251	1	management	management	NOUN
emaj-75	251	2	and	and	CCONJ
emaj-75	251	3	organization	organization	NOUN
emaj-75	251	4	review	review	VERB
emaj-75	251	5	9:2	9:2	NUM
emaj-75	251	6	.	.	PUNCT
emaj-75	252	1	july	july	PROPN
emaj-75	252	2	2013.265–294	2013.265–294	NUM
emaj-75	252	3	.	.	PUNCT
emaj-75	253	1	jusoh	jusoh	PROPN
emaj-75	253	2	,	,	PUNCT
emaj-75	253	3	mohd	mohd	PROPN
emaj-75	253	4	abdullah	abdullah	PROPN
emaj-75	253	5	.	.	PUNCT
emaj-75	253	6	2014	2014	NUM
emaj-75	253	7	.	.	PUNCT
emaj-75	254	1	equity	equity	NOUN
emaj-75	254	2	ownership	ownership	NOUN
emaj-75	254	3	,	,	PUNCT
emaj-75	254	4	audit	audit	NOUN
emaj-75	254	5	quality	quality	NOUN
emaj-75	254	6	and	and	CCONJ
emaj-75	254	7	firm	firm	ADJ
emaj-75	254	8	performance	performance	NOUN
emaj-75	254	9	in	in	ADP
emaj-75	254	10	malaysia	malaysia	NOUN
emaj-75	254	11	using	use	VERB
emaj-75	254	12	generalized	generalized	ADJ
emaj-75	254	13	least	least	ADJ
emaj-75	254	14	square	square	ADJ
emaj-75	254	15	estimations	estimation	NOUN
emaj-75	254	16	technique	technique	NOUN
emaj-75	254	17	.	.	PUNCT
emaj-75	255	1	journal	journal	NOUN
emaj-75	255	2	of	of	ADP
emaj-75	255	3	emerging	emerge	VERB
emaj-75	255	4	issues	issue	NOUN
emaj-75	255	5	in	in	ADP
emaj-75	255	6	economics	economic	NOUN
emaj-75	255	7	.	.	PUNCT
emaj-75	256	1	finance	finance	NOUN
emaj-75	256	2	and	and	CCONJ
emaj-75	256	3	banking	banking	NOUN
emaj-75	256	4	(	(	PUNCT
emaj-75	256	5	jeiefb	jeiefb	PROPN
emaj-75	256	6	)	)	PUNCT
emaj-75	256	7	an	an	DET
emaj-75	256	8	online	online	ADJ
emaj-75	256	9	international	international	ADJ
emaj-75	256	10	monthly	monthly	ADJ
emaj-75	256	11	journal	journal	NOUN
emaj-75	256	12	.	.	PUNCT
emaj-75	257	1	2014	2014	NUM
emaj-75	257	2	vol	vol	NOUN
emaj-75	257	3	:	:	PUNCT
emaj-75	257	4	3	3	NUM
emaj-75	257	5	issue	issue	NOUN
emaj-75	257	6	1	1	NUM
emaj-75	257	7	kapopoulos	kapopoulo	NOUN
emaj-75	257	8	,	,	PUNCT
emaj-75	257	9	p.	p.	NOUN
emaj-75	257	10	and	and	CCONJ
emaj-75	257	11	s.	s.	PROPN
emaj-75	257	12	lazaretou	lazaretou	PROPN
emaj-75	257	13	,	,	PUNCT
emaj-75	257	14	2007	2007	NUM
emaj-75	257	15	.	.	PUNCT
emaj-75	258	1	corporate	corporate	ADJ
emaj-75	258	2	ownership	ownership	NOUN
emaj-75	258	3	structure	structure	NOUN
emaj-75	258	4	and	and	CCONJ
emaj-75	258	5	firm	firm	ADJ
emaj-75	258	6	performance	performance	NOUN
emaj-75	258	7	:	:	PUNCT
emaj-75	258	8	evidence	evidence	NOUN
emaj-75	258	9	from	from	ADP
emaj-75	258	10	greek	greek	ADJ
emaj-75	258	11	firms	firm	NOUN
emaj-75	258	12	.	.	PUNCT
emaj-75	259	1	corporate	corporate	ADJ
emaj-75	259	2	governance	governance	NOUN
emaj-75	259	3	:	:	PUNCT
emaj-75	259	4	an	an	DET
emaj-75	259	5	int	int	NOUN
emaj-75	259	6	.	.	PUNCT
emaj-75	260	1	rev	rev	PROPN
emaj-75	260	2	..	..	PROPN
emaj-75	260	3	vol	vol	NOUN
emaj-75	260	4	.	.	PUNCT
emaj-75	261	1	15.no	15.no	NUM
emaj-75	261	2	.	.	NOUN
emaj-75	262	1	2	2	NUM
emaj-75	262	2	.	.	X
emaj-75	262	3	pp	pp	ADJ
emaj-75	262	4	.	.	PUNCT
emaj-75	263	1	144	144	NUM
emaj-75	263	2	-	-	SYM
emaj-75	263	3	158	158	NUM
emaj-75	263	4	.	.	PUNCT
emaj-75	264	1	lehman	lehman	PROPN
emaj-75	264	2	,	,	PUNCT
emaj-75	264	3	e.	e.	PROPN
emaj-75	264	4	&	&	CCONJ
emaj-75	264	5	weigand	weigand	PROPN
emaj-75	264	6	,	,	PUNCT
emaj-75	264	7	j.	j.	PROPN
emaj-75	264	8	2000	2000	NUM
emaj-75	264	9	.	.	PUNCT
emaj-75	265	1	does	do	AUX
emaj-75	265	2	the	the	DET
emaj-75	265	3	governed	govern	VERB
emaj-75	265	4	corporation	corporation	NOUN
emaj-75	265	5	perform	perform	VERB
emaj-75	265	6	better	well	ADV
emaj-75	265	7	?	?	PUNCT
emaj-75	266	1	governance	governance	NOUN
emaj-75	266	2	structures	structure	NOUN
emaj-75	266	3	and	and	CCONJ
emaj-75	266	4	corporate	corporate	ADJ
emaj-75	266	5	performance	performance	NOUN
emaj-75	266	6	in	in	ADP
emaj-75	266	7	germany’.european	germany’.european	ADJ
emaj-75	266	8	finance	finance	NOUN
emaj-75	266	9	review.4(2).157	review.4(2).157	PROPN
emaj-75	266	10	-	-	PUNCT
emaj-75	266	11	195	195	NUM
emaj-75	266	12	.	.	PUNCT
emaj-75	267	1	mishra	mishra	PROPN
emaj-75	267	2	,	,	PUNCT
emaj-75	267	3	c.s	c.s	PROPN
emaj-75	267	4	.	.	PROPN
emaj-75	267	5	,	,	PUNCT
emaj-75	267	6	t.	t.	PROPN
emaj-75	267	7	randqy	randqy	PROPN
emaj-75	267	8	and	and	CCONJ
emaj-75	267	9	j.i	j.i	PROPN
emaj-75	267	10	.	.	PROPN
emaj-75	267	11	jenssen	jenssen	PROPN
emaj-75	267	12	,	,	PUNCT
emaj-75	267	13	2001.the	2001.the	DET
emaj-75	267	14	effect	effect	NOUN
emaj-75	267	15	of	of	ADP
emaj-75	267	16	founding	found	VERB
emaj-75	267	17	family	family	NOUN
emaj-75	267	18	influence	influence	NOUN
emaj-75	267	19	on	on	ADP
emaj-75	267	20	firm	firm	ADJ
emaj-75	267	21	value	value	NOUN
emaj-75	267	22	and	and	CCONJ
emaj-75	267	23	corporate	corporate	ADJ
emaj-75	267	24	governance	governance	NOUN
emaj-75	267	25	.	.	PUNCT
emaj-75	268	1	j.	j.	PROPN
emaj-75	268	2	int	int	PROPN
emaj-75	268	3	.	.	PUNCT
emaj-75	269	1	finan	finan	PROPN
emaj-75	269	2	.	.	PUNCT
emaj-75	270	1	manage	manage	VERB
emaj-75	270	2	.	.	PUNCT
emaj-75	271	1	accounting	accounting	NOUN
emaj-75	271	2	,	,	PUNCT
emaj-75	271	3	vol	vol	NOUN
emaj-75	271	4	.	.	PROPN
emaj-75	271	5	12.no	12.no	NUM
emaj-75	271	6	.	.	X
emaj-75	272	1	3	3	X
emaj-75	272	2	.	.	X
emaj-75	272	3	pp	pp	ADJ
emaj-75	272	4	.	.	PUNCT
emaj-75	273	1	235259	235259	NUM
emaj-75	273	2	.	.	PUNCT
emaj-75	274	1	morck	morck	PROPN
emaj-75	274	2	.	.	PUNCT
emaj-75	274	3	r.	r.	PROPN
emaj-75	274	4	,	,	PUNCT
emaj-75	274	5	schleiffer	schleiffer	VERB
emaj-75	274	6	,	,	PUNCT
emaj-75	274	7	a.	a.	PROPN
emaj-75	274	8	&	&	CCONJ
emaj-75	274	9	vishny	vishny	PROPN
emaj-75	274	10	,	,	PUNCT
emaj-75	274	11	r.w	r.w	PROPN
emaj-75	274	12	.	.	PROPN
emaj-75	274	13	,	,	PUNCT
emaj-75	274	14	(	(	PUNCT
emaj-75	274	15	1988	1988	NUM
emaj-75	274	16	)	)	PUNCT
emaj-75	274	17	management	management	NOUN
emaj-75	274	18	ownership	ownership	NOUN
emaj-75	274	19	and	and	CCONJ
emaj-75	274	20	market	market	NOUN
emaj-75	274	21	valuation	valuation	NOUN
emaj-75	274	22	:	:	PUNCT
emaj-75	274	23	an	an	DET
emaj-75	274	24	ampirical	ampirical	ADJ
emaj-75	274	25	analysis	analysis	NOUN
emaj-75	274	26	.	.	PUNCT
emaj-75	275	1	journal	journal	NOUN
emaj-75	275	2	of	of	ADP
emaj-75	275	3	financial	financial	ADJ
emaj-75	275	4	economics	economic	NOUN
emaj-75	275	5	.	.	PUNCT
emaj-75	276	1	20	20	NUM
emaj-75	276	2	,	,	PUNCT
emaj-75	276	3	293	293	NUM
emaj-75	276	4	-	-	SYM
emaj-75	276	5	315	315	NUM
emaj-75	276	6	.	.	PUNCT
emaj-75	276	7	web	web	NOUN
emaj-75	276	8	sources	source	NOUN
emaj-75	276	9	:	:	PUNCT
emaj-75	276	10	http://www.arcelikas.com/sayfa/152/yillik_faa	http://www.arcelikas.com/sayfa/152/yillik_faa	NOUN
emaj-75	276	11	liyet_raporlari	liyet_raporlari	PROPN
emaj-75	277	1	http://www.bim.com.tr/categories/654/faaliyet	http://www.bim.com.tr/categories/654/faaliyet	PROPN
emaj-75	278	1	_	_	PUNCT
emaj-75	279	1	raporlari.aspx	raporlari.aspx	NOUN
emaj-75	279	2	http://www.doganholding.com.tr/yatirimciiliskileri/default.aspx	http://www.doganholding.com.tr/yatirimciiliskileri/default.aspx	NOUN
emaj-75	279	3	http://www.enka.com/trtr/enka.aspx?mainid=68&contentid=	http://www.enka.com/trtr/enka.aspx?mainid=68&contentid=	NOUN
emaj-75	279	4	154	154	NUM
emaj-75	279	5	http://www.erdemir.com.tr/yatirimcilar/detay.a	http://www.erdemir.com.tr/yatirimcilar/detay.a	NOUN
emaj-75	279	6	spx?sectionid	spx?sectionid	X
emaj-75	279	7	=	=	PRON
emaj-75	279	8	wsvn2msqrhuysos	wsvn2msqrhuysos	NOUN
emaj-75	279	9	zhuec6a%3d%3d&contentid	zhuec6a%3d%3d&contentid	NOUN
emaj-75	279	10	=	=	NOUN
emaj-75	279	11	h0e	h0e	PRON
emaj-75	279	12	oxotbgwz5mhkyrjc%2b0w%3d	oxotbgwz5mhkyrjc%2b0w%3d	PROPN
emaj-75	280	1	%	%	INTJ
emaj-75	280	2	3d	3d	NUM
emaj-75	280	3	http://www.fordotosan.com.tr/faaliyetraporlari	http://www.fordotosan.com.tr/faaliyetraporlari	PROPN
emaj-75	280	4	.	.	PUNCT
emaj-75	281	1	htm	htm	PROPN
emaj-75	281	2	http://www.arcelikas.com/sayfa/152/yillik_faaliyet_raporlari	http://www.arcelikas.com/sayfa/152/yillik_faaliyet_raporlari	PROPN
emaj-75	281	3	http://www.arcelikas.com/sayfa/152/yillik_faaliyet_raporlari	http://www.arcelikas.com/sayfa/152/yillik_faaliyet_raporlari	NOUN
emaj-75	282	1	http://www.bim.com.tr/categories/654/faaliyet_raporlari.aspx	http://www.bim.com.tr/categories/654/faaliyet_raporlari.aspx	X
emaj-75	283	1	http://www.bim.com.tr/categories/654/faaliyet_raporlari.aspx	http://www.bim.com.tr/categories/654/faaliyet_raporlari.aspx	PUNCT
emaj-75	284	1	http://www.doganholding.com.tr/yatirimci-iliskileri/default.aspx	http://www.doganholding.com.tr/yatirimci-iliskileri/default.aspx	PUNCT
emaj-75	285	1	http://www.doganholding.com.tr/yatirimci-iliskileri/default.aspx	http://www.doganholding.com.tr/yatirimci-iliskileri/default.aspx	PROPN
emaj-75	285	2	http://www.enka.com/tr-tr/enka.aspx?mainid=68&contentid=154	http://www.enka.com/tr-tr/enka.aspx?mainid=68&contentid=154	NOUN
emaj-75	285	3	http://www.enka.com/tr-tr/enka.aspx?mainid=68&contentid=154	http://www.enka.com/tr-tr/enka.aspx?mainid=68&contentid=154	PROPN
emaj-75	285	4	http://www.enka.com/tr-tr/enka.aspx?mainid=68&contentid=154	http://www.enka.com/tr-tr/enka.aspx?mainid=68&contentid=154	NOUN
emaj-75	285	5	http://www.erdemir.com.tr/yatirimcilar/detay.aspx?sectionid=wsvn2msqrhuysoszhuec6a%3d%3d&contentid=h0eoxotbgwz5mhkyrjc%2b0w%3d%3d	http://www.erdemir.com.tr/yatirimcilar/detay.aspx?sectionid=wsvn2msqrhuysoszhuec6a%3d%3d&contentid=h0eoxotbgwz5mhkyrjc%2b0w%3d%3d	PROPN
emaj-75	285	6	http://www.erdemir.com.tr/yatirimcilar/detay.aspx?sectionid=wsvn2msqrhuysoszhuec6a%3d%3d&contentid=h0eoxotbgwz5mhkyrjc%2b0w%3d%3d	http://www.erdemir.com.tr/yatirimcilar/detay.aspx?sectionid=wsvn2msqrhuysoszhuec6a%3d%3d&contentid=h0eoxotbgwz5mhkyrjc%2b0w%3d%3d	PROPN
emaj-75	286	1	http://www.erdemir.com.tr/yatirimcilar/detay.aspx?sectionid=wsvn2msqrhuysoszhuec6a%3d%3d&contentid=h0eoxotbgwz5mhkyrjc%2b0w%3d%3d	http://www.erdemir.com.tr/yatirimcilar/detay.aspx?sectionid=wsvn2msqrhuysoszhuec6a%3d%3d&contentid=h0eoxotbgwz5mhkyrjc%2b0w%3d%3d	PROPN
emaj-75	287	1	http://www.erdemir.com.tr/yatirimcilar/detay.aspx?sectionid=wsvn2msqrhuysoszhuec6a%3d%3d&contentid=h0eoxotbgwz5mhkyrjc%2b0w%3d%3d	http://www.erdemir.com.tr/yatirimcilar/detay.aspx?sectionid=wsvn2msqrhuysoszhuec6a%3d%3d&contentid=h0eoxotbgwz5mhkyrjc%2b0w%3d%3d	PROPN
emaj-75	288	1	http://www.erdemir.com.tr/yatirimcilar/detay.aspx?sectionid=wsvn2msqrhuysoszhuec6a%3d%3d&contentid=h0eoxotbgwz5mhkyrjc%2b0w%3d%3d	http://www.erdemir.com.tr/yatirimcilar/detay.aspx?sectionid=wsvn2msqrhuysoszhuec6a%3d%3d&contentid=h0eoxotbgwz5mhkyrjc%2b0w%3d%3d	PROPN
emaj-75	289	1	http://www.fordotosan.com.tr/faaliyetraporlari.htm	http://www.fordotosan.com.tr/faaliyetraporlari.htm	PROPN
emaj-75	290	1	http://www.fordotosan.com.tr/faaliyetraporlari.htm	http://www.fordotosan.com.tr/faaliyetraporlari.htm	PROPN
emaj-75	290	2	volume	volume	NOUN
emaj-75	290	3	5	5	NUM
emaj-75	290	4	no	no	DET
emaj-75	290	5	2	2	NUM
emaj-75	290	6	(	(	PUNCT
emaj-75	290	7	2015	2015	NUM
emaj-75	290	8	)	)	PUNCT
emaj-75	290	9	|	|	ADV
emaj-75	290	10	issn	issn	VERB
emaj-75	290	11	2158	2158	NUM
emaj-75	290	12	-	-	SYM
emaj-75	290	13	8708	8708	NUM
emaj-75	290	14	(	(	PUNCT
emaj-75	290	15	online	online	NOUN
emaj-75	290	16	)	)	PUNCT
emaj-75	290	17	|	|	ADV
emaj-75	290	18	doi	doi	X
emaj-75	290	19	10.5195	10.5195	NUM
emaj-75	290	20	/	/	SYM
emaj-75	290	21	emaj.2015.75	emaj.2015.75	NOUN
emaj-75	290	22	|	|	ADV
emaj-75	290	23	http://emaj.pitt	http://emaj.pitt	VERB
emaj-75	290	24	.	.	PUNCT
emaj-75	291	1	the	the	DET
emaj-75	291	2	relationship	relationship	NOUN
emaj-75	291	3	between	between	ADP
emaj-75	291	4	corporate	corporate	ADJ
emaj-75	291	5	performance	performance	NOUN
emaj-75	291	6	and	and	CCONJ
emaj-75	291	7	ownership	ownership	NOUN
emaj-75	291	8	structure	structure	NOUN
emaj-75	291	9	:	:	PUNCT
emaj-75	291	10	evidence	evidence	NOUN
emaj-75	291	11	from	from	ADP
emaj-75	291	12	turkey	turkey	NOUN
emaj-75	291	13	page	page	NOUN
emaj-75	291	14	|18|	|18|	NOUN
emaj-75	291	15	emerging	emerge	VERB
emaj-75	291	16	markets	market	NOUN
emaj-75	291	17	journal	journal	NOUN
emaj-75	291	18	http://kardemir.com/yonetim.aspx?sec=yat	http://kardemir.com/yonetim.aspx?sec=yat	PROPN
emaj-75	291	19	&	&	CCONJ
emaj-75	291	20	ani	ani	NOUN
emaj-75	291	21	=	=	SYM
emaj-75	291	22	yes&lng	yes&lng	NOUN
emaj-75	291	23	=	=	PRON
emaj-75	291	24	tr	tr	VERB
emaj-75	291	25	-	-	NOUN
emaj-75	291	26	tr&w=3	tr&w=3	NOUN
emaj-75	291	27	http://www.koc.com.tr/tr-tr/yatirimciiliskileri/finansal-raporlar-veistatistikler/faaliyet-raporlari	http://www.koc.com.tr/tr-tr/yatirimciiliskileri/finansal-raporlar-veistatistikler/faaliyet-raporlari	NOUN
emaj-75	291	28	https://www.migroskurumsal.com/icerik.aspx	https://www.migroskurumsal.com/icerik.aspx	PUNCT
emaj-75	291	29	?	?	PUNCT
emaj-75	292	1	icerikid=162	icerikid=162	PROPN
emaj-75	292	2	http://www.petkim.com.tr/sayfa/1/176/yatir	http://www.petkim.com.tr/sayfa/1/176/yatir	PROPN
emaj-75	292	3	imci-iliskileri-operasyonelve-finansal-verilerfaaliyet-raporlari.aspx	imci-iliskileri-operasyonelve-finansal-verilerfaaliyet-raporlari.aspx	NOUN
emaj-75	292	4	https://www.sabanci.com/tr/yatirimciiliskileri/faaliyet-raporlari/k-29	https://www.sabanci.com/tr/yatirimciiliskileri/faaliyet-raporlari/k-29	VERB
emaj-75	292	5	http://www.sisecam.com.tr/tr/yatirimciiliskileri/yillik-faaliyet-raporlari/	http://www.sisecam.com.tr/tr/yatirimciiliskileri/yillik-faaliyet-raporlari/	VERB
emaj-75	292	6	http://www.tekfen.com.tr/faaliyetraporu.asp	http://www.tekfen.com.tr/faaliyetraporu.asp	PROPN
emaj-75	292	7	http://www.tofas.com.tr/tr/yatirimci/pages/faal	http://www.tofas.com.tr/tr/yatirimci/pages/faal	PROPN
emaj-75	292	8	iyetraporlari.aspx	iyetraporlari.aspx	X
emaj-75	292	9	http://www.tupras.com.tr/detailpage.tr.php?lpa	http://www.tupras.com.tr/detailpage.tr.php?lpa	X
emaj-75	292	10	geid=12	geid=12	NOUN
emaj-75	292	11	http://investor.turkishairlines.com/tr/maliveriler/faaliyet-raporlari/1/tumyillar/tum-donemler	http://investor.turkishairlines.com/tr/maliveriler/faaliyet-raporlari/1/tumyillar/tum-donemler	PROPN
emaj-75	292	12	http://www.ttinvestorrelations.com/tr/malioperasyonel-veriler/faaliyetraporlari.aspx	http://www.ttinvestorrelations.com/tr/malioperasyonel-veriler/faaliyetraporlari.aspx	PROPN
emaj-75	292	13	http://www.ulkerbiskuvi.com.tr/trtr/yatirimci-iliskileri/yillik-faaliyetraporlari	http://www.ulkerbiskuvi.com.tr/trtr/yatirimci-iliskileri/yillik-faaliyetraporlari	ADJ
emaj-75	292	14	http://kardemir.com/yonetim.aspx?sec=yat&ani=yes&lng=tr-tr&w=3	http://kardemir.com/yonetim.aspx?sec=yat&ani=yes&lng=tr-tr&w=3	NOUN
emaj-75	292	15	http://kardemir.com/yonetim.aspx?sec=yat&ani=yes&lng=tr-tr&w=3	http://kardemir.com/yonetim.aspx?sec=yat&ani=yes&lng=tr-tr&w=3	NOUN
emaj-75	292	16	http://www.koc.com.tr/tr-tr/yatirimci-iliskileri/finansal-raporlar-ve-istatistikler/faaliyet-raporlari	http://www.koc.com.tr/tr-tr/yatirimci-iliskileri/finansal-raporlar-ve-istatistikler/faaliyet-raporlari	PROPN
emaj-75	292	17	http://www.koc.com.tr/tr-tr/yatirimci-iliskileri/finansal-raporlar-ve-istatistikler/faaliyet-raporlari	http://www.koc.com.tr/tr-tr/yatirimci-iliskileri/finansal-raporlar-ve-istatistikler/faaliyet-raporlari	PROPN
emaj-75	292	18	http://www.koc.com.tr/tr-tr/yatirimci-iliskileri/finansal-raporlar-ve-istatistikler/faaliyet-raporlari	http://www.koc.com.tr/tr-tr/yatirimci-iliskileri/finansal-raporlar-ve-istatistikler/faaliyet-raporlari	X
emaj-75	292	19	https://www.migroskurumsal.com/icerik.aspx?icerikid=162	https://www.migroskurumsal.com/icerik.aspx?icerikid=162	AUX
emaj-75	292	20	https://www.migroskurumsal.com/icerik.aspx?icerikid=162	https://www.migroskurumsal.com/icerik.aspx?icerikid=162	PROPN
emaj-75	292	21	http://www.petkim.com.tr/sayfa/1/176/yatirimci-iliskileri-operasyonel-ve-finansal-veriler-faaliyet-raporlari.aspx	http://www.petkim.com.tr/sayfa/1/176/yatirimci-iliskileri-operasyonel-ve-finansal-veriler-faaliyet-raporlari.aspx	X
emaj-75	292	22	http://www.petkim.com.tr/sayfa/1/176/yatirimci-iliskileri-operasyonel-ve-finansal-veriler-faaliyet-raporlari.aspx	http://www.petkim.com.tr/sayfa/1/176/yatirimci-iliskileri-operasyonel-ve-finansal-veriler-faaliyet-raporlari.aspx	NOUN
emaj-75	292	23	http://www.petkim.com.tr/sayfa/1/176/yatirimci-iliskileri-operasyonel-ve-finansal-veriler-faaliyet-raporlari.aspx	http://www.petkim.com.tr/sayfa/1/176/yatirimci-iliskileri-operasyonel-ve-finansal-veriler-faaliyet-raporlari.aspx	NOUN
emaj-75	292	24	http://www.petkim.com.tr/sayfa/1/176/yatirimci-iliskileri-operasyonel-ve-finansal-veriler-faaliyet-raporlari.aspx	http://www.petkim.com.tr/sayfa/1/176/yatirimci-iliskileri-operasyonel-ve-finansal-veriler-faaliyet-raporlari.aspx	NOUN
emaj-75	292	25	https://www.sabanci.com/tr/yatirimci-iliskileri/faaliyet-raporlari/k-29	https://www.sabanci.com/tr/yatirimci-iliskileri/faaliyet-raporlari/k-29	VERB
emaj-75	292	26	https://www.sabanci.com/tr/yatirimci-iliskileri/faaliyet-raporlari/k-29	https://www.sabanci.com/tr/yatirimci-iliskileri/faaliyet-raporlari/k-29	VERB
emaj-75	292	27	http://www.sisecam.com.tr/tr/yatirimci-iliskileri/yillik-faaliyet-raporlari/	http://www.sisecam.com.tr/tr/yatirimci-iliskileri/yillik-faaliyet-raporlari/	PROPN
emaj-75	292	28	http://www.sisecam.com.tr/tr/yatirimci-iliskileri/yillik-faaliyet-raporlari/	http://www.sisecam.com.tr/tr/yatirimci-iliskileri/yillik-faaliyet-raporlari/	PROPN
emaj-75	292	29	http://www.tofas.com.tr/tr/yatirimci/pages/faaliyetraporlari.aspx	http://www.tofas.com.tr/tr/yatirimci/pages/faaliyetraporlari.aspx	NOUN
emaj-75	292	30	http://www.tofas.com.tr/tr/yatirimci/pages/faaliyetraporlari.aspx	http://www.tofas.com.tr/tr/yatirimci/pages/faaliyetraporlari.aspx	NOUN
emaj-75	292	31	http://www.tupras.com.tr/detailpage.tr.php?lpageid=12	http://www.tupras.com.tr/detailpage.tr.php?lpageid=12	PROPN
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emaj-75	293	2	http://investor.turkishairlines.com/tr/mali-veriler/faaliyet-raporlari/1/tum-yillar/tum-donemler	http://investor.turkishairlines.com/tr/mali-veriler/faaliyet-raporlari/1/tum-yillar/tum-donemler	X
emaj-75	293	3	http://investor.turkishairlines.com/tr/mali-veriler/faaliyet-raporlari/1/tum-yillar/tum-donemler	http://investor.turkishairlines.com/tr/mali-veriler/faaliyet-raporlari/1/tum-yillar/tum-donemler	X
emaj-75	293	4	http://investor.turkishairlines.com/tr/mali-veriler/faaliyet-raporlari/1/tum-yillar/tum-donemler	http://investor.turkishairlines.com/tr/mali-veriler/faaliyet-raporlari/1/tum-yillar/tum-donemler	X
emaj-75	293	5	http://www.ttinvestorrelations.com/tr/mali-operasyonel-veriler/faaliyet-raporlari.aspx	http://www.ttinvestorrelations.com/tr/mali-operasyonel-veriler/faaliyet-raporlari.aspx	X
emaj-75	293	6	http://www.ttinvestorrelations.com/tr/mali-operasyonel-veriler/faaliyet-raporlari.aspx	http://www.ttinvestorrelations.com/tr/mali-operasyonel-veriler/faaliyet-raporlari.aspx	X
emaj-75	293	7	http://www.ttinvestorrelations.com/tr/mali-operasyonel-veriler/faaliyet-raporlari.aspx	http://www.ttinvestorrelations.com/tr/mali-operasyonel-veriler/faaliyet-raporlari.aspx	X