id sid eid entity type fbem-29181 1 1 2766-824x QUANTITY fbem-29181 1 2 18 CARDINAL fbem-29181 1 3 1 CARDINAL fbem-29181 1 4 80 CARDINAL fbem-29181 1 5 shanghai university ORG fbem-29181 1 6 shanghai GPE fbem-29181 1 7 china GPE fbem-29181 2 1 china GPE fbem-29181 4 1 2013 DATE fbem-29181 4 2 2022 CARDINAL fbem-29181 6 1 1 CARDINAL fbem-29181 8 1 recent years DATE fbem-29181 8 2 china GPE fbem-29181 9 1 china GPE fbem-29181 9 2 2007 DATE fbem-29181 10 1 zhu xiwei et al. PERSON fbem-29181 10 2 2017 DATE fbem-29181 11 1 china GPE fbem-29181 13 1 three CARDINAL fbem-29181 14 1 first ORDINAL fbem-29181 15 1 xie zhong PERSON fbem-29181 15 2 kong lingxiang GPE fbem-29181 15 3 2018 DATE fbem-29181 16 1 secondly ORDINAL fbem-29181 19 1 china GPE fbem-29181 20 1 chen yunsen PERSON fbem-29181 20 2 huang PERSON fbem-29181 20 3 2019 DATE fbem-29181 20 4 china GPE fbem-29181 26 1 2 CARDINAL fbem-29181 26 2 2.1 CARDINAL fbem-29181 27 1 firstly ORDINAL fbem-29181 27 2 myers ORG fbem-29181 27 3 1984 DATE fbem-29181 29 1 chen et al PERSON fbem-29181 30 1 2007 DATE fbem-29181 31 1 81 CARDINAL fbem-29181 32 1 zhong ma PERSON fbem-29181 32 2 2015 DATE fbem-29181 33 1 yu wenchao et al PERSON fbem-29181 34 1 2020 DATE fbem-29181 35 1 secondly ORDINAL fbem-29181 36 1 1990 DATE fbem-29181 36 2 zwiebel, 1996 ORG fbem-29181 37 1 jensen PERSON fbem-29181 37 2 1986 DATE fbem-29181 38 1 2006 DATE fbem-29181 42 1 yu kun et al PERSON fbem-29181 43 1 2014 DATE fbem-29181 45 1 deng lu et al PERSON fbem-29181 46 1 2017 CARDINAL fbem-29181 47 1 chu liping PERSON fbem-29181 47 2 2017 DATE fbem-29181 47 3 china GPE fbem-29181 48 1 2.2 CARDINAL fbem-29181 50 1 gu naikang PERSON fbem-29181 50 2 chen hui PERSON fbem-29181 50 3 2010 DATE fbem-29181 51 1 xiong jiacai PERSON fbem-29181 51 2 su dongwei PERSON fbem-29181 51 3 2014 DATE fbem-29181 51 4 three CARDINAL fbem-29181 52 1 sun jingwen et al PERSON fbem-29181 53 1 2019 DATE fbem-29181 56 1 su dongwei et al. PERSON fbem-29181 56 2 2013 DATE fbem-29181 59 1 bennett et al. PERSON fbem-29181 59 2 2020 DATE fbem-29181 60 1 liang PERSON fbem-29181 60 2 2012 DATE fbem-29181 62 1 3 CARDINAL fbem-29181 62 2 3.1 CARDINAL fbem-29181 62 3 china GPE fbem-29181 62 4 2013 DATE fbem-29181 62 5 2022 CARDINAL fbem-29181 63 1 the china stock market & accounting ORG fbem-29181 63 2 1 CARDINAL fbem-29181 63 3 2 CARDINAL fbem-29181 63 4 greater than 100% PERCENT fbem-29181 63 5 3 CARDINAL fbem-29181 63 6 the year DATE fbem-29181 63 7 the year DATE fbem-29181 63 8 4 CARDINAL fbem-29181 63 9 5 CARDINAL fbem-29181 64 1 3.2 CARDINAL fbem-29181 65 1 3.2.1 CARDINAL fbem-29181 66 1 richardson PERSON fbem-29181 66 2 2006 DATE fbem-29181 66 3 xu qian PERSON fbem-29181 66 4 2014 DATE fbem-29181 66 5 chen xiaodong et al PERSON fbem-29181 67 1 2016 DATE fbem-29181 67 2 li wenwen et al PERSON fbem-29181 68 1 2020 DATE fbem-29181 69 1 1 CARDINAL fbem-29181 71 1 82 CARDINAL fbem-29181 71 2 year DATE fbem-29181 71 3 the beginning of the year DATE fbem-29181 72 1 year DATE fbem-29181 72 2 t-1 year DATE fbem-29181 72 3 year DATE fbem-29181 72 4 the beginning of the year DATE fbem-29181 72 5 t-1 ORG fbem-29181 72 6 years DATE fbem-29181 72 7 year -ipo year DATE fbem-29181 72 8 t-1 year DATE fbem-29181 72 9 year DATE fbem-29181 72 10 annual DATE fbem-29181 74 1 2012 DATE fbem-29181 74 2 standard of china securities regulatory commission ORG fbem-29181 74 3 2 CARDINAL fbem-29181 74 4 1 CARDINAL fbem-29181 76 1 1 CARDINAL fbem-29181 78 1 3.2.2 CARDINAL fbem-29181 78 2 10 CARDINAL fbem-29181 78 3 𝐷𝑖,𝑑 βˆ— 𝛴 |𝑅𝑖,𝑑,𝑑| PERSON fbem-29181 78 4 2 CARDINAL fbem-29181 78 5 days DATE fbem-29181 78 6 year DATE fbem-29181 78 7 daily DATE fbem-29181 78 8 day d of year DATE fbem-29181 78 9 𝑉𝑂𝐿𝑖,𝑑,𝑑 GPE fbem-29181 78 10 daily DATE fbem-29181 78 11 day d of year DATE fbem-29181 78 12 rmb million CARDINAL fbem-29181 81 1 3.2.3 CARDINAL fbem-29181 81 2 five CARDINAL fbem-29181 83 1 one CARDINAL fbem-29181 83 2 two CARDINAL fbem-29181 84 1 1 CARDINAL fbem-29181 84 2 0 CARDINAL fbem-29181 86 1 1 CARDINAL fbem-29181 87 1 3.2.1 CARDINAL fbem-29181 87 2 3.2.2 CARDINAL fbem-29181 87 3 annual DATE fbem-29181 87 4 1 CARDINAL fbem-29181 87 5 0 CARDINAL fbem-29181 87 6 3.3 CARDINAL fbem-29181 88 1 xiong jiacai PERSON fbem-29181 88 2 su dongwei PERSON fbem-29181 88 3 2014 DATE fbem-29181 88 4 wen jun PERSON fbem-29181 88 5 feng genfu PERSON fbem-29181 88 6 2021 CARDINAL fbem-29181 88 7 3 CARDINAL fbem-29181 88 8 year DATE fbem-29181 88 9 year DATE fbem-29181 88 10 two CARDINAL fbem-29181 90 1 4. CARDINAL fbem-29181 90 2 4.1 CARDINAL fbem-29181 92 1 2 CARDINAL fbem-29181 93 1 0.0542 CARDINAL fbem-29181 94 1 0.109 CARDINAL fbem-29181 94 2 83 CARDINAL fbem-29181 95 1 0.538 CARDINAL fbem-29181 96 1 2 CARDINAL fbem-29181 96 2 1 CARDINAL fbem-29181 96 3 2 CARDINAL fbem-29181 96 4 3 CARDINAL fbem-29181 96 5 4 CARDINAL fbem-29181 96 6 5 CARDINAL fbem-29181 97 1 max efficien cy PERSON fbem-29181 97 2 17,090 CARDINAL fbem-29181 98 1 17,090 CARDINAL fbem-29181 98 2 0.109 CARDINAL fbem-29181 98 3 0.00020 1 CARDINAL fbem-29181 98 4 17,090 CARDINAL fbem-29181 98 5 28.64 CARDINAL fbem-29181 98 6 17,090 CARDINAL fbem-29181 98 7 0.0450 CARDINAL fbem-29181 98 8 0.468 -45.74 2.778 DATE fbem-29181 98 9 17,090 CARDINAL fbem-29181 98 10 1.037 CARDINAL fbem-29181 98 11 17,090 CARDINAL fbem-29181 98 12 2.954 CARDINAL fbem-29181 98 13 17,090 CARDINAL fbem-29181 98 14 434.6 CARDINAL fbem-29181 98 15 17,090 CARDINAL fbem-29181 98 16 1 CARDINAL fbem-29181 98 17 17,090 CARDINAL fbem-29181 98 18 0.800 CARDINAL fbem-29181 98 19 3 CARDINAL fbem-29181 99 1 1% PERCENT fbem-29181 100 1 3 CARDINAL fbem-29181 100 2 4.2 CARDINAL fbem-29181 101 1 two CARDINAL fbem-29181 101 2 first ORDINAL fbem-29181 103 1 4 CARDINAL fbem-29181 103 2 0.020 CARDINAL fbem-29181 103 3 5% PERCENT fbem-29181 105 1 4 CARDINAL fbem-29181 105 2 1 CARDINAL fbem-29181 105 3 0.020 CARDINAL fbem-29181 105 4 2.13 CARDINAL fbem-29181 105 5 0.61 CARDINAL fbem-29181 106 1 2.26 CARDINAL fbem-29181 106 2 0.320 CARDINAL fbem-29181 106 3 6.84 CARDINAL fbem-29181 106 4 17,090 CARDINAL fbem-29181 106 5 1,709 CARDINAL fbem-29181 106 6 0.079 CARDINAL fbem-29181 108 1 4.3 CARDINAL fbem-29181 109 1 1 CARDINAL fbem-29181 109 2 effi2 PERSON fbem-29181 110 1 1 CARDINAL fbem-29181 110 2 5 CARDINAL fbem-29181 110 3 0.038 CARDINAL fbem-29181 110 4 5% PERCENT fbem-29181 111 1 2βˆšβˆ’π‘π‘œπ‘£(π›₯𝑃𝑑,π›₯π‘ƒπ‘‘βˆ’1),𝐼𝑓 TIME fbem-29181 111 2 0,𝐼𝑓 ORDINAL fbem-29181 112 1 4 CARDINAL fbem-29181 113 1 daily DATE fbem-29181 113 2 first ORDINAL fbem-29181 113 3 daily DATE fbem-29181 115 1 2 CARDINAL fbem-29181 115 2 5 CARDINAL fbem-29181 116 1 84 CARDINAL fbem-29181 116 2 0.128 DATE fbem-29181 116 3 1% PERCENT fbem-29181 117 1 h. 4.3.3 ORG fbem-29181 118 1 china GPE fbem-29181 118 2 2015 DATE fbem-29181 120 1 2016 to 2018 DATE fbem-29181 121 1 3 CARDINAL fbem-29181 121 2 5 CARDINAL fbem-29181 122 1 0.020 CARDINAL fbem-29181 122 2 10% PERCENT fbem-29181 124 1 5 CARDINAL fbem-29181 125 1 1 CARDINAL fbem-29181 125 2 2 CARDINAL fbem-29181 125 3 3 CARDINAL fbem-29181 125 4 0.038 CARDINAL fbem-29181 125 5 0.020 CARDINAL fbem-29181 125 6 2.41 CARDINAL fbem-29181 125 7 1.88 CARDINAL fbem-29181 125 8 0.128 CARDINAL fbem-29181 125 9 3.31 CARDINAL fbem-29181 127 1 0.002 0.005 0.001 MONEY fbem-29181 127 2 0.19 CARDINAL fbem-29181 127 3 0.69 CARDINAL fbem-29181 127 4 0.14 CARDINAL fbem-29181 130 1 2.46 CARDINAL fbem-29181 130 2 2.26 CARDINAL fbem-29181 130 3 1.52 CARDINAL fbem-29181 130 4 0.010 CARDINAL fbem-29181 130 5 0.74 CARDINAL fbem-29181 130 6 0.275 CARDINAL fbem-29181 130 7 0.318 CARDINAL fbem-29181 130 8 0.110 CARDINAL fbem-29181 130 9 5.28 CARDINAL fbem-29181 130 10 6.88 CARDINAL fbem-29181 130 11 3.35 CARDINAL fbem-29181 130 12 14,080 CARDINAL fbem-29181 130 13 17,090 11,963 CARDINAL fbem-29181 130 14 0.085 0.078 0.052 MONEY fbem-29181 135 1 4.4 CARDINAL fbem-29181 136 1 su dongwei PERSON fbem-29181 136 2 xiong jiacai PERSON fbem-29181 136 3 2013 DATE fbem-29181 136 4 2012 DATE fbem-29181 137 1 one CARDINAL fbem-29181 137 2 liq1 WORK_OF_ART fbem-29181 138 1 6 CARDINAL fbem-29181 138 2 second ORDINAL fbem-29181 138 3 2sls CARDINAL fbem-29181 139 1 0.721 CARDINAL fbem-29181 139 2 5% PERCENT fbem-29181 141 1 6 CARDINAL fbem-29181 142 1 1 CARDINAL fbem-29181 142 2 two CARDINAL fbem-29181 142 3 0.721 CARDINAL fbem-29181 142 4 2.20 CARDINAL fbem-29181 142 5 0.032 CARDINAL fbem-29181 142 6 3.10 CARDINAL fbem-29181 142 7 0.001 CARDINAL fbem-29181 142 8 2.32 CARDINAL fbem-29181 143 1 -3.81 ORG fbem-29181 143 2 0.004 CARDINAL fbem-29181 143 3 0.23 CARDINAL fbem-29181 143 4 0.172 CARDINAL fbem-29181 143 5 1.58 CARDINAL fbem-29181 144 1 15,381 CARDINAL fbem-29181 144 2 5 CARDINAL fbem-29181 144 3 5.1 CARDINAL fbem-29181 146 1 7 CARDINAL fbem-29181 146 2 1 CARDINAL fbem-29181 146 3 2 CARDINAL fbem-29181 147 1 5% PERCENT fbem-29181 151 1 china GPE fbem-29181 153 1 5.2 CARDINAL fbem-29181 153 2 85 CARDINAL fbem-29181 154 1 3 CARDINAL fbem-29181 154 2 4 CARDINAL fbem-29181 154 3 7 CARDINAL fbem-29181 155 1 10% PERCENT fbem-29181 156 1 7 CARDINAL fbem-29181 156 2 1 CARDINAL fbem-29181 156 3 2 CARDINAL fbem-29181 156 4 3 CARDINAL fbem-29181 156 5 4 CARDINAL fbem-29181 156 6 0.021 CARDINAL fbem-29181 156 7 0.060 0.019 CARDINAL fbem-29181 156 8 1.97 CARDINAL fbem-29181 156 9 1.32 CARDINAL fbem-29181 156 10 1.81 CARDINAL fbem-29181 156 11 0.011 CARDINAL fbem-29181 156 12 0.020 CARDINAL fbem-29181 156 13 0.012 CARDINAL fbem-29181 156 14 0.023 CARDINAL fbem-29181 158 1 roe -0.009** PERSON fbem-29181 159 1 0.021 CARDINAL fbem-29181 159 2 0.006 CARDINAL fbem-29181 159 3 0.79 CARDINAL fbem-29181 159 4 0.52 CARDINAL fbem-29181 161 1 2.19 CARDINAL fbem-29181 161 2 1.08 CARDINAL fbem-29181 161 3 0.002 CARDINAL fbem-29181 161 4 0.002 CARDINAL fbem-29181 161 5 0.003 CARDINAL fbem-29181 161 6 0.003 CARDINAL fbem-29181 161 7 1.77 CARDINAL fbem-29181 161 8 0.86 CARDINAL fbem-29181 162 1 0.010 CARDINAL fbem-29181 162 2 0.49 CARDINAL fbem-29181 162 3 0.222 CARDINAL fbem-29181 162 4 0.393 CARDINAL fbem-29181 162 5 0.252 CARDINAL fbem-29181 162 6 0.445 CARDINAL fbem-29181 162 7 3.00 CARDINAL fbem-29181 162 8 6.18 CARDINAL fbem-29181 162 9 3.15 CARDINAL fbem-29181 162 10 4.11 CARDINAL fbem-29181 162 11 7,615 CARDINAL fbem-29181 162 12 8,545 CARDINAL fbem-29181 162 13 0.031 0.114 MONEY fbem-29181 162 14 844 1,007 CARDINAL fbem-29181 162 15 1,149 CARDINAL fbem-29181 170 1 6 CARDINAL fbem-29181 170 2 china GPE fbem-29181 170 3 china GPE fbem-29181 171 1 china GPE fbem-29181 172 1 china GPE fbem-29181 172 2 2013 DATE fbem-29181 172 3 2022 CARDINAL fbem-29181 173 1 china GPE fbem-29181 178 1 china GPE fbem-29181 180 1 1 CARDINAL fbem-29181 180 2 xiong jiacai PERSON fbem-29181 180 3 su dongwei.stock liquidity and corporate capital allocation ORG fbem-29181 182 1 +97 DATE fbem-29181 183 1 2 CARDINAL fbem-29181 183 2 xiong jiacai PERSON fbem-29181 184 1 chinese NORP fbem-29181 186 1 journal of jiangxi university of finance ORG fbem-29181 187 1 3 CARDINAL fbem-29181 187 2 wang c. PERSON fbem-29181 190 1 4 CARDINAL fbem-29181 190 2 joong h ORG fbem-29181 191 1 5 CARDINAL fbem-29181 191 2 wang peng PERSON fbem-29181 191 3 zhang chao PERSON fbem-29181 194 1 xi'an GPE fbem-29181 195 1 6 CARDINAL fbem-29181 195 2 nian NORP fbem-29181 195 3 gu naikang. PERSON fbem-29181 196 1 journal of management science ORG fbem-29181 197 1 zhang gongfu PERSON fbem-29181 197 2 song xianzhong PERSON fbem-29181 199 1 shanghai GPE fbem-29181 199 2 shenzhen GPE fbem-29181 201 1 77+97 DATE