id	sid	tid	token	lemma	pos
fbem-10372	1	1	frontiers	frontier	NOUN
fbem-10372	1	2	in	in	ADP
fbem-10372	1	3	business	business	NOUN
fbem-10372	1	4	,	,	PUNCT
fbem-10372	1	5	economics	economic	NOUN
fbem-10372	1	6	and	and	CCONJ
fbem-10372	1	7	management	management	NOUN
fbem-10372	1	8	issn	issn	PROPN
fbem-10372	1	9	:	:	PUNCT
fbem-10372	1	10	2766	2766	NUM
fbem-10372	1	11	-	-	PUNCT
fbem-10372	1	12	824x	824x	NUM
fbem-10372	1	13	|	|	ADJ
fbem-10372	1	14	vol	vol	NOUN
fbem-10372	1	15	.	.	PROPN
fbem-10372	2	1	10	10	NUM
fbem-10372	2	2	,	,	PUNCT
fbem-10372	2	3	no	no	INTJ
fbem-10372	2	4	.	.	NOUN
fbem-10372	2	5	1	1	NUM
fbem-10372	2	6	,	,	PUNCT
fbem-10372	2	7	2023	2023	NUM
fbem-10372	2	8	209	209	NUM
fbem-10372	2	9	study	study	NOUN
fbem-10372	2	10	on	on	ADP
fbem-10372	2	11	the	the	DET
fbem-10372	2	12	impact	impact	NOUN
fbem-10372	2	13	of	of	ADP
fbem-10372	2	14	marketing	marketing	NOUN
fbem-10372	2	15	expenses	expense	NOUN
fbem-10372	2	16	on	on	ADP
fbem-10372	2	17	the	the	DET
fbem-10372	2	18	operational	operational	ADJ
fbem-10372	2	19	performance	performance	NOUN
fbem-10372	2	20	of	of	ADP
fbem-10372	2	21	pharmaceutical	pharmaceutical	ADJ
fbem-10372	2	22	companies	company	NOUN
fbem-10372	2	23	:	:	PUNCT
fbem-10372	2	24	a	a	DET
fbem-10372	2	25	case	case	NOUN
fbem-10372	2	26	study	study	NOUN
fbem-10372	2	27	of	of	ADP
fbem-10372	2	28	cr	cr	PROPN
fbem-10372	2	29	sanjiu	sanjiu	PROPN
fbem-10372	2	30	pharmaceutical	pharmaceutical	PROPN
fbem-10372	2	31	co.	co.	PROPN
fbem-10372	2	32	,	,	PUNCT
fbem-10372	2	33	ltd	ltd	PROPN
fbem-10372	2	34	.	.	PROPN
fbem-10372	2	35	jun	jun	PROPN
fbem-10372	2	36	lyu	lyu	NOUN
fbem-10372	2	37	and	and	CCONJ
fbem-10372	2	38	shanshan	shanshan	PROPN
fbem-10372	2	39	wang	wang	PROPN
fbem-10372	2	40	dhurakij	dhurakij	PROPN
fbem-10372	2	41	pundit	pundit	PROPN
fbem-10372	2	42	university	university	PROPN
fbem-10372	2	43	,	,	PUNCT
fbem-10372	2	44	110/1	110/1	NUM
fbem-10372	2	45	-	-	SYM
fbem-10372	2	46	4	4	NUM
fbem-10372	2	47	prachachuen	prachachuen	ADJ
fbem-10372	2	48	road	road	NOUN
fbem-10372	2	49	,	,	PUNCT
fbem-10372	2	50	laksi	laksi	PROPN
fbem-10372	2	51	,	,	PUNCT
fbem-10372	2	52	bangkok	bangkok	PROPN
fbem-10372	2	53	10210	10210	NUM
fbem-10372	2	54	,	,	PUNCT
fbem-10372	2	55	thailand	thailand	PROPN
fbem-10372	2	56	abstract	abstract	PROPN
fbem-10372	2	57	:	:	PUNCT
fbem-10372	2	58	the	the	DET
fbem-10372	2	59	role	role	NOUN
fbem-10372	2	60	of	of	ADP
fbem-10372	2	61	marketing	marketing	NOUN
fbem-10372	2	62	strategies	strategy	NOUN
fbem-10372	2	63	in	in	ADP
fbem-10372	2	64	enterprise	enterprise	NOUN
fbem-10372	2	65	operations	operation	NOUN
fbem-10372	2	66	management	management	NOUN
fbem-10372	2	67	has	have	AUX
fbem-10372	2	68	gained	gain	VERB
fbem-10372	2	69	increasing	increase	VERB
fbem-10372	2	70	attention	attention	NOUN
fbem-10372	2	71	from	from	ADP
fbem-10372	2	72	business	business	NOUN
fbem-10372	2	73	operators	operator	NOUN
fbem-10372	2	74	and	and	CCONJ
fbem-10372	2	75	academic	academic	ADJ
fbem-10372	2	76	experts	expert	NOUN
fbem-10372	2	77	.	.	PUNCT
fbem-10372	3	1	in	in	ADP
fbem-10372	3	2	the	the	DET
fbem-10372	3	3	chinese	chinese	ADJ
fbem-10372	3	4	pharmaceutical	pharmaceutical	NOUN
fbem-10372	3	5	industry	industry	NOUN
fbem-10372	3	6	,	,	PUNCT
fbem-10372	3	7	particularly	particularly	ADV
fbem-10372	3	8	in	in	ADP
fbem-10372	3	9	the	the	DET
fbem-10372	3	10	field	field	NOUN
fbem-10372	3	11	of	of	ADP
fbem-10372	3	12	traditional	traditional	ADJ
fbem-10372	3	13	chinese	chinese	ADJ
fbem-10372	3	14	medicine	medicine	NOUN
fbem-10372	3	15	,	,	PUNCT
fbem-10372	3	16	the	the	DET
fbem-10372	3	17	issue	issue	NOUN
fbem-10372	3	18	of	of	ADP
fbem-10372	3	19	product	product	NOUN
fbem-10372	3	20	homogeneity	homogeneity	NOUN
fbem-10372	3	21	is	be	AUX
fbem-10372	3	22	prominent	prominent	ADJ
fbem-10372	3	23	.	.	PUNCT
fbem-10372	4	1	developing	develop	VERB
fbem-10372	4	2	effective	effective	ADJ
fbem-10372	4	3	marketing	marketing	NOUN
fbem-10372	4	4	strategies	strategy	NOUN
fbem-10372	4	5	helps	help	VERB
fbem-10372	4	6	companies	company	NOUN
fbem-10372	4	7	succeed	succeed	VERB
fbem-10372	4	8	in	in	ADP
fbem-10372	4	9	fierce	fierce	ADJ
fbem-10372	4	10	market	market	NOUN
fbem-10372	4	11	competition	competition	NOUN
fbem-10372	4	12	and	and	CCONJ
fbem-10372	4	13	steadily	steadily	ADV
fbem-10372	4	14	increase	increase	VERB
fbem-10372	4	15	their	their	PRON
fbem-10372	4	16	market	market	NOUN
fbem-10372	4	17	share	share	NOUN
fbem-10372	4	18	.	.	PUNCT
fbem-10372	5	1	currently	currently	ADV
fbem-10372	5	2	,	,	PUNCT
fbem-10372	5	3	chinese	chinese	ADJ
fbem-10372	5	4	pharmaceutical	pharmaceutical	ADJ
fbem-10372	5	5	companies	company	NOUN
fbem-10372	5	6	generally	generally	ADV
fbem-10372	5	7	allocate	allocate	VERB
fbem-10372	5	8	a	a	DET
fbem-10372	5	9	significant	significant	ADJ
fbem-10372	5	10	portion	portion	NOUN
fbem-10372	5	11	of	of	ADP
fbem-10372	5	12	their	their	PRON
fbem-10372	5	13	budget	budget	NOUN
fbem-10372	5	14	to	to	ADP
fbem-10372	5	15	marketing	marketing	NOUN
fbem-10372	5	16	expenses	expense	NOUN
fbem-10372	5	17	.	.	PUNCT
fbem-10372	6	1	researching	research	VERB
fbem-10372	6	2	the	the	DET
fbem-10372	6	3	relationship	relationship	NOUN
fbem-10372	6	4	between	between	ADP
fbem-10372	6	5	marketing	marketing	NOUN
fbem-10372	6	6	expenses	expense	NOUN
fbem-10372	6	7	and	and	CCONJ
fbem-10372	6	8	business	business	NOUN
fbem-10372	6	9	performance	performance	NOUN
fbem-10372	6	10	helps	help	VERB
fbem-10372	6	11	companies	company	NOUN
fbem-10372	6	12	allocate	allocate	VERB
fbem-10372	6	13	their	their	PRON
fbem-10372	6	14	marketing	marketing	NOUN
fbem-10372	6	15	budget	budget	NOUN
fbem-10372	6	16	more	more	ADV
fbem-10372	6	17	effectively	effectively	ADV
fbem-10372	6	18	and	and	CCONJ
fbem-10372	6	19	achieve	achieve	VERB
fbem-10372	6	20	better	well	ADJ
fbem-10372	6	21	returns	return	NOUN
fbem-10372	6	22	.	.	PUNCT
fbem-10372	7	1	china	china	PROPN
fbem-10372	7	2	resources	resource	NOUN
fbem-10372	7	3	(	(	PUNCT
fbem-10372	7	4	cr	cr	NOUN
fbem-10372	7	5	)	)	PUNCT
fbem-10372	7	6	sanjiu	sanjiu	PROPN
fbem-10372	7	7	pharmaceutical	pharmaceutical	PROPN
fbem-10372	7	8	co.	co.	PROPN
fbem-10372	7	9	,	,	PUNCT
fbem-10372	7	10	ltd	ltd	PROPN
fbem-10372	7	11	.	.	PROPN
fbem-10372	7	12	,	,	PUNCT
fbem-10372	7	13	a	a	DET
fbem-10372	7	14	well	well	ADV
fbem-10372	7	15	-	-	PUNCT
fbem-10372	7	16	known	know	VERB
fbem-10372	7	17	company	company	NOUN
fbem-10372	7	18	in	in	ADP
fbem-10372	7	19	the	the	DET
fbem-10372	7	20	field	field	NOUN
fbem-10372	7	21	of	of	ADP
fbem-10372	7	22	traditional	traditional	ADJ
fbem-10372	7	23	chinese	chinese	ADJ
fbem-10372	7	24	medicine	medicine	NOUN
fbem-10372	7	25	,	,	PUNCT
fbem-10372	7	26	has	have	AUX
fbem-10372	7	27	invested	invest	VERB
fbem-10372	7	28	more	more	ADV
fbem-10372	7	29	in	in	ADP
fbem-10372	7	30	marketing	marketing	NOUN
fbem-10372	7	31	expenses	expense	NOUN
fbem-10372	7	32	compared	compare	VERB
fbem-10372	7	33	to	to	ADP
fbem-10372	7	34	the	the	DET
fbem-10372	7	35	industry	industry	NOUN
fbem-10372	7	36	average	average	NOUN
fbem-10372	7	37	.	.	PUNCT
fbem-10372	8	1	however	however	ADV
fbem-10372	8	2	,	,	PUNCT
fbem-10372	8	3	in	in	ADP
fbem-10372	8	4	recent	recent	ADJ
fbem-10372	8	5	years	year	NOUN
fbem-10372	8	6	,	,	PUNCT
fbem-10372	8	7	the	the	DET
fbem-10372	8	8	company	company	NOUN
fbem-10372	8	9	's	's	PART
fbem-10372	8	10	operational	operational	ADJ
fbem-10372	8	11	performance	performance	NOUN
fbem-10372	8	12	has	have	AUX
fbem-10372	8	13	been	be	AUX
fbem-10372	8	14	unsatisfactory	unsatisfactory	ADJ
fbem-10372	8	15	.	.	PUNCT
fbem-10372	9	1	it	it	PRON
fbem-10372	9	2	is	be	AUX
fbem-10372	9	3	worth	worth	ADJ
fbem-10372	9	4	exploring	explore	VERB
fbem-10372	9	5	the	the	DET
fbem-10372	9	6	reasons	reason	NOUN
fbem-10372	9	7	why	why	SCONJ
fbem-10372	9	8	the	the	DET
fbem-10372	9	9	marketing	marketing	NOUN
fbem-10372	9	10	expenses	expense	NOUN
fbem-10372	9	11	have	have	AUX
fbem-10372	9	12	not	not	PART
fbem-10372	9	13	resulted	result	VERB
fbem-10372	9	14	in	in	ADP
fbem-10372	9	15	corresponding	correspond	VERB
fbem-10372	9	16	improvements	improvement	NOUN
fbem-10372	9	17	in	in	ADP
fbem-10372	9	18	business	business	NOUN
fbem-10372	9	19	performance	performance	NOUN
fbem-10372	9	20	.	.	PUNCT
fbem-10372	10	1	keywords	keyword	NOUN
fbem-10372	10	2	:	:	PUNCT
fbem-10372	10	3	marketing	marketing	NOUN
fbem-10372	10	4	expenses	expense	NOUN
fbem-10372	10	5	,	,	PUNCT
fbem-10372	10	6	financial	financial	ADJ
fbem-10372	10	7	performance	performance	NOUN
fbem-10372	10	8	,	,	PUNCT
fbem-10372	10	9	non	non	ADJ
fbem-10372	10	10	-	-	ADJ
fbem-10372	10	11	financial	financial	ADJ
fbem-10372	10	12	performance	performance	NOUN
fbem-10372	10	13	.	.	PUNCT
fbem-10372	11	1	1	1	X
fbem-10372	11	2	.	.	X
fbem-10372	11	3	introduction	introduction	NOUN
fbem-10372	11	4	with	with	ADP
fbem-10372	11	5	the	the	DET
fbem-10372	11	6	continuous	continuous	ADJ
fbem-10372	11	7	development	development	NOUN
fbem-10372	11	8	of	of	ADP
fbem-10372	11	9	scientific	scientific	ADJ
fbem-10372	11	10	and	and	CCONJ
fbem-10372	11	11	technological	technological	ADJ
fbem-10372	11	12	applications	application	NOUN
fbem-10372	11	13	,	,	PUNCT
fbem-10372	11	14	an	an	DET
fbem-10372	11	15	increasing	increase	VERB
fbem-10372	11	16	number	number	NOUN
fbem-10372	11	17	of	of	ADP
fbem-10372	11	18	companies	company	NOUN
fbem-10372	11	19	are	be	AUX
fbem-10372	11	20	entering	enter	VERB
fbem-10372	11	21	the	the	DET
fbem-10372	11	22	pharmaceutical	pharmaceutical	ADJ
fbem-10372	11	23	market	market	NOUN
fbem-10372	11	24	.	.	PUNCT
fbem-10372	12	1	in	in	ADP
fbem-10372	12	2	this	this	DET
fbem-10372	12	3	highly	highly	ADV
fbem-10372	12	4	competitive	competitive	ADJ
fbem-10372	12	5	market	market	NOUN
fbem-10372	12	6	with	with	ADP
fbem-10372	12	7	significant	significant	ADJ
fbem-10372	12	8	product	product	NOUN
fbem-10372	12	9	homogeneity	homogeneity	NOUN
fbem-10372	12	10	,	,	PUNCT
fbem-10372	12	11	companies	company	NOUN
fbem-10372	12	12	need	need	VERB
fbem-10372	12	13	to	to	PART
fbem-10372	12	14	continuously	continuously	ADV
fbem-10372	12	15	improve	improve	VERB
fbem-10372	12	16	their	their	PRON
fbem-10372	12	17	products	product	NOUN
fbem-10372	12	18	,	,	PUNCT
fbem-10372	12	19	enhance	enhance	VERB
fbem-10372	12	20	marketing	marketing	NOUN
fbem-10372	12	21	capabilities	capability	NOUN
fbem-10372	12	22	,	,	PUNCT
fbem-10372	12	23	and	and	CCONJ
fbem-10372	12	24	establish	establish	VERB
fbem-10372	12	25	a	a	DET
fbem-10372	12	26	strong	strong	ADJ
fbem-10372	12	27	brand	brand	NOUN
fbem-10372	12	28	image	image	NOUN
fbem-10372	12	29	to	to	PART
fbem-10372	12	30	maintain	maintain	VERB
fbem-10372	12	31	their	their	PRON
fbem-10372	12	32	competitive	competitive	ADJ
fbem-10372	12	33	advantage	advantage	NOUN
fbem-10372	12	34	and	and	CCONJ
fbem-10372	12	35	achieve	achieve	VERB
fbem-10372	12	36	success	success	NOUN
fbem-10372	12	37	.	.	PUNCT
fbem-10372	13	1	currently	currently	ADV
fbem-10372	13	2	,	,	PUNCT
fbem-10372	13	3	cr	cr	PROPN
fbem-10372	13	4	sanjiu	sanjiu	PROPN
fbem-10372	13	5	pharmaceutical	pharmaceutical	PROPN
fbem-10372	13	6	co.	co.	PROPN
fbem-10372	13	7	,	,	PUNCT
fbem-10372	13	8	ltd	ltd	PROPN
fbem-10372	13	9	.	.	PROPN
fbem-10372	13	10	has	have	VERB
fbem-10372	13	11	13	13	NUM
fbem-10372	13	12	product	product	NOUN
fbem-10372	13	13	categories	category	NOUN
fbem-10372	13	14	with	with	ADP
fbem-10372	13	15	an	an	DET
fbem-10372	13	16	annual	annual	ADJ
fbem-10372	13	17	total	total	ADJ
fbem-10372	13	18	sales	sale	NOUN
fbem-10372	13	19	amount	amount	NOUN
fbem-10372	13	20	exceeding	exceed	VERB
fbem-10372	13	21	one	one	NUM
fbem-10372	13	22	hundred	hundred	NUM
fbem-10372	13	23	million	million	NUM
fbem-10372	13	24	rmb	rmb	NOUN
fbem-10372	13	25	.	.	PUNCT
fbem-10372	14	1	among	among	ADP
fbem-10372	14	2	them	they	PRON
fbem-10372	14	3	,	,	PUNCT
fbem-10372	14	4	the	the	DET
fbem-10372	14	5	sales	sale	NOUN
fbem-10372	14	6	volume	volume	NOUN
fbem-10372	14	7	of	of	ADP
fbem-10372	14	8	the	the	DET
fbem-10372	14	9	999	999	NUM
fbem-10372	14	10	cold	cold	ADJ
fbem-10372	14	11	medicine	medicine	NOUN
fbem-10372	14	12	system	system	NOUN
fbem-10372	14	13	has	have	AUX
fbem-10372	14	14	consistently	consistently	ADV
fbem-10372	14	15	ranked	rank	VERB
fbem-10372	14	16	first	first	ADV
fbem-10372	14	17	in	in	ADP
fbem-10372	14	18	the	the	DET
fbem-10372	14	19	cold	cold	ADJ
fbem-10372	14	20	medicine	medicine	NOUN
fbem-10372	14	21	market	market	NOUN
fbem-10372	14	22	for	for	ADP
fbem-10372	14	23	the	the	DET
fbem-10372	14	24	past	past	ADJ
fbem-10372	14	25	five	five	NUM
fbem-10372	14	26	years	year	NOUN
fbem-10372	14	27	.	.	PUNCT
fbem-10372	15	1	as	as	ADP
fbem-10372	15	2	a	a	DET
fbem-10372	15	3	well	well	ADV
fbem-10372	15	4	-	-	PUNCT
fbem-10372	15	5	known	know	VERB
fbem-10372	15	6	publicly	publicly	ADV
fbem-10372	15	7	traded	trade	VERB
fbem-10372	15	8	company	company	NOUN
fbem-10372	15	9	in	in	ADP
fbem-10372	15	10	the	the	DET
fbem-10372	15	11	field	field	NOUN
fbem-10372	15	12	of	of	ADP
fbem-10372	15	13	traditional	traditional	ADJ
fbem-10372	15	14	chinese	chinese	ADJ
fbem-10372	15	15	medicine	medicine	NOUN
fbem-10372	15	16	,	,	PUNCT
fbem-10372	15	17	cr	cr	PROPN
fbem-10372	15	18	sanjiu	sanjiu	PROPN
fbem-10372	15	19	pharmaceutical	pharmaceutical	PROPN
fbem-10372	15	20	co.	co.	PROPN
fbem-10372	15	21	,	,	PUNCT
fbem-10372	15	22	ltd	ltd	PROPN
fbem-10372	15	23	.	.	PROPN
fbem-10372	15	24	's	's	PART
fbem-10372	15	25	sales	sale	NOUN
fbem-10372	15	26	strategy	strategy	NOUN
fbem-10372	15	27	is	be	AUX
fbem-10372	15	28	a	a	DET
fbem-10372	15	29	crucial	crucial	ADJ
fbem-10372	15	30	factor	factor	NOUN
fbem-10372	15	31	in	in	ADP
fbem-10372	15	32	maintaining	maintain	VERB
fbem-10372	15	33	market	market	NOUN
fbem-10372	15	34	competitiveness	competitiveness	NOUN
fbem-10372	15	35	and	and	CCONJ
fbem-10372	15	36	influence	influence	NOUN
fbem-10372	15	37	.	.	PUNCT
fbem-10372	16	1	however	however	ADV
fbem-10372	16	2	,	,	PUNCT
fbem-10372	16	3	after	after	ADP
fbem-10372	16	4	observing	observe	VERB
fbem-10372	16	5	the	the	DET
fbem-10372	16	6	financial	financial	ADJ
fbem-10372	16	7	accounting	accounting	NOUN
fbem-10372	16	8	statements	statement	NOUN
fbem-10372	16	9	of	of	ADP
fbem-10372	16	10	cr	cr	PROPN
fbem-10372	16	11	sanjiu	sanjiu	PROPN
fbem-10372	16	12	pharmaceutical	pharmaceutical	PROPN
fbem-10372	16	13	co.	co.	PROPN
fbem-10372	16	14	,	,	PUNCT
fbem-10372	16	15	ltd	ltd	PROPN
fbem-10372	16	16	.	.	PROPN
fbem-10372	16	17	over	over	ADP
fbem-10372	16	18	the	the	DET
fbem-10372	16	19	years	year	NOUN
fbem-10372	16	20	,	,	PUNCT
fbem-10372	16	21	it	it	PRON
fbem-10372	16	22	is	be	AUX
fbem-10372	16	23	evident	evident	ADJ
fbem-10372	16	24	that	that	SCONJ
fbem-10372	16	25	despite	despite	SCONJ
fbem-10372	16	26	significant	significant	ADJ
fbem-10372	16	27	investments	investment	NOUN
fbem-10372	16	28	in	in	ADP
fbem-10372	16	29	sales	sale	NOUN
fbem-10372	16	30	costs	cost	NOUN
fbem-10372	16	31	,	,	PUNCT
fbem-10372	16	32	the	the	DET
fbem-10372	16	33	company	company	NOUN
fbem-10372	16	34	's	's	PART
fbem-10372	16	35	financial	financial	ADJ
fbem-10372	16	36	performance	performance	NOUN
fbem-10372	16	37	has	have	AUX
fbem-10372	16	38	not	not	PART
fbem-10372	16	39	shown	show	VERB
fbem-10372	16	40	a	a	DET
fbem-10372	16	41	corresponding	corresponding	ADJ
fbem-10372	16	42	increase	increase	NOUN
fbem-10372	16	43	.	.	PUNCT
fbem-10372	17	1	while	while	SCONJ
fbem-10372	17	2	non	non	ADJ
fbem-10372	17	3	-	-	ADJ
fbem-10372	17	4	financial	financial	ADJ
fbem-10372	17	5	performance	performance	NOUN
fbem-10372	17	6	has	have	AUX
fbem-10372	17	7	shown	show	VERB
fbem-10372	17	8	some	some	DET
fbem-10372	17	9	growth	growth	NOUN
fbem-10372	17	10	,	,	PUNCT
fbem-10372	17	11	it	it	PRON
fbem-10372	17	12	still	still	ADV
fbem-10372	17	13	lacks	lack	VERB
fbem-10372	17	14	a	a	DET
fbem-10372	17	15	competitive	competitive	ADJ
fbem-10372	17	16	advantage	advantage	NOUN
fbem-10372	17	17	compared	compare	VERB
fbem-10372	17	18	to	to	ADP
fbem-10372	17	19	peers	peer	NOUN
fbem-10372	17	20	in	in	ADP
fbem-10372	17	21	the	the	DET
fbem-10372	17	22	industry	industry	NOUN
fbem-10372	17	23	,	,	PUNCT
fbem-10372	17	24	which	which	PRON
fbem-10372	17	25	seems	seem	VERB
fbem-10372	17	26	to	to	PART
fbem-10372	17	27	contradict	contradict	VERB
fbem-10372	17	28	previous	previous	ADJ
fbem-10372	17	29	analysis	analysis	NOUN
fbem-10372	17	30	and	and	CCONJ
fbem-10372	17	31	research	research	NOUN
fbem-10372	17	32	conclusions	conclusion	NOUN
fbem-10372	17	33	.	.	PUNCT
fbem-10372	18	1	therefore	therefore	ADV
fbem-10372	18	2	,	,	PUNCT
fbem-10372	18	3	this	this	DET
fbem-10372	18	4	study	study	NOUN
fbem-10372	18	5	takes	take	VERB
fbem-10372	18	6	cr	cr	PROPN
fbem-10372	18	7	sanjiu	sanjiu	PROPN
fbem-10372	18	8	pharmaceutical	pharmaceutical	PROPN
fbem-10372	18	9	co.	co.	PROPN
fbem-10372	18	10	,	,	PUNCT
fbem-10372	18	11	ltd	ltd	PROPN
fbem-10372	18	12	.	.	PROPN
fbem-10372	18	13	as	as	ADP
fbem-10372	18	14	an	an	DET
fbem-10372	18	15	example	example	NOUN
fbem-10372	18	16	to	to	PART
fbem-10372	18	17	investigate	investigate	VERB
fbem-10372	18	18	the	the	DET
fbem-10372	18	19	impact	impact	NOUN
fbem-10372	18	20	of	of	ADP
fbem-10372	18	21	marketing	marketing	NOUN
fbem-10372	18	22	expenses	expense	NOUN
fbem-10372	18	23	on	on	ADP
fbem-10372	18	24	the	the	DET
fbem-10372	18	25	operational	operational	ADJ
fbem-10372	18	26	performance	performance	NOUN
fbem-10372	18	27	of	of	ADP
fbem-10372	18	28	traditional	traditional	ADJ
fbem-10372	18	29	chinese	chinese	ADJ
fbem-10372	18	30	medicine	medicine	NOUN
fbem-10372	18	31	enterprises	enterprise	NOUN
fbem-10372	18	32	.	.	PUNCT
fbem-10372	19	1	1.1	1.1	NUM
fbem-10372	19	2	.	.	PUNCT
fbem-10372	20	1	research	research	NOUN
fbem-10372	20	2	objective	objective	NOUN
fbem-10372	20	3	the	the	DET
fbem-10372	20	4	objective	objective	NOUN
fbem-10372	20	5	of	of	ADP
fbem-10372	20	6	this	this	DET
fbem-10372	20	7	study	study	NOUN
fbem-10372	20	8	is	be	AUX
fbem-10372	20	9	to	to	PART
fbem-10372	20	10	analyze	analyze	VERB
fbem-10372	20	11	and	and	CCONJ
fbem-10372	20	12	investigate	investigate	VERB
fbem-10372	20	13	the	the	DET
fbem-10372	20	14	impact	impact	NOUN
fbem-10372	20	15	of	of	ADP
fbem-10372	20	16	the	the	DET
fbem-10372	20	17	company	company	NOUN
fbem-10372	20	18	's	's	PART
fbem-10372	20	19	investment	investment	NOUN
fbem-10372	20	20	in	in	ADP
fbem-10372	20	21	sales	sale	NOUN
fbem-10372	20	22	costs	cost	NOUN
fbem-10372	20	23	on	on	ADP
fbem-10372	20	24	its	its	PRON
fbem-10372	20	25	operational	operational	ADJ
fbem-10372	20	26	management	management	NOUN
fbem-10372	20	27	performance	performance	NOUN
fbem-10372	20	28	.	.	PUNCT
fbem-10372	21	1	this	this	DET
fbem-10372	21	2	research	research	NOUN
fbem-10372	21	3	aims	aim	VERB
fbem-10372	21	4	to	to	PART
fbem-10372	21	5	provide	provide	VERB
fbem-10372	21	6	insights	insight	NOUN
fbem-10372	21	7	,	,	PUNCT
fbem-10372	21	8	suggestions	suggestion	NOUN
fbem-10372	21	9	,	,	PUNCT
fbem-10372	21	10	and	and	CCONJ
fbem-10372	21	11	recommendations	recommendation	NOUN
fbem-10372	21	12	for	for	ADP
fbem-10372	21	13	the	the	DET
fbem-10372	21	14	company	company	NOUN
fbem-10372	21	15	to	to	PART
fbem-10372	21	16	scientifically	scientifically	ADV
fbem-10372	21	17	and	and	CCONJ
fbem-10372	21	18	reasonably	reasonably	ADV
fbem-10372	21	19	allocate	allocate	VERB
fbem-10372	21	20	sales	sale	NOUN
fbem-10372	21	21	costs	cost	NOUN
fbem-10372	21	22	,	,	PUNCT
fbem-10372	21	23	as	as	ADV
fbem-10372	21	24	well	well	ADV
fbem-10372	21	25	as	as	ADP
fbem-10372	21	26	to	to	PART
fbem-10372	21	27	determine	determine	VERB
fbem-10372	21	28	sales	sale	NOUN
fbem-10372	21	29	strategies	strategy	NOUN
fbem-10372	21	30	and	and	CCONJ
fbem-10372	21	31	approaches	approach	NOUN
fbem-10372	21	32	.	.	PUNCT
fbem-10372	22	1	1.2	1.2	NUM
fbem-10372	22	2	.	.	PUNCT
fbem-10372	22	3	research	research	NOUN
fbem-10372	22	4	significance	significance	NOUN
fbem-10372	22	5	1.2.1	1.2.1	NUM
fbem-10372	22	6	.	.	PUNCT
fbem-10372	22	7	theoretical	theoretical	ADJ
fbem-10372	22	8	significance	significance	NOUN
fbem-10372	22	9	this	this	DET
fbem-10372	22	10	study	study	NOUN
fbem-10372	22	11	holds	hold	VERB
fbem-10372	22	12	theoretical	theoretical	ADJ
fbem-10372	22	13	significance	significance	NOUN
fbem-10372	22	14	by	by	ADP
fbem-10372	22	15	applying	apply	VERB
fbem-10372	22	16	relevant	relevant	ADJ
fbem-10372	22	17	theories	theory	NOUN
fbem-10372	22	18	to	to	PART
fbem-10372	22	19	systematically	systematically	ADV
fbem-10372	22	20	investigate	investigate	VERB
fbem-10372	22	21	the	the	DET
fbem-10372	22	22	mutual	mutual	ADJ
fbem-10372	22	23	impact	impact	NOUN
fbem-10372	22	24	relationship	relationship	NOUN
fbem-10372	22	25	between	between	ADP
fbem-10372	22	26	the	the	DET
fbem-10372	22	27	company	company	NOUN
fbem-10372	22	28	's	's	PART
fbem-10372	22	29	sales	sale	NOUN
fbem-10372	22	30	costs	cost	NOUN
fbem-10372	22	31	and	and	CCONJ
fbem-10372	22	32	its	its	PRON
fbem-10372	22	33	operational	operational	ADJ
fbem-10372	22	34	management	management	NOUN
fbem-10372	22	35	performance	performance	NOUN
fbem-10372	22	36	.	.	PUNCT
fbem-10372	23	1	financially	financially	ADV
fbem-10372	23	2	,	,	PUNCT
fbem-10372	23	3	costs	cost	NOUN
fbem-10372	23	4	related	relate	VERB
fbem-10372	23	5	to	to	ADP
fbem-10372	23	6	marketing	marketing	NOUN
fbem-10372	23	7	activities	activity	NOUN
fbem-10372	23	8	(	(	PUNCT
fbem-10372	23	9	such	such	ADJ
fbem-10372	23	10	as	as	ADP
fbem-10372	23	11	sales	sale	NOUN
fbem-10372	23	12	promotion	promotion	NOUN
fbem-10372	23	13	and	and	CCONJ
fbem-10372	23	14	advertising	advertising	NOUN
fbem-10372	23	15	)	)	PUNCT
fbem-10372	23	16	are	be	AUX
fbem-10372	23	17	collectively	collectively	ADV
fbem-10372	23	18	referred	refer	VERB
fbem-10372	23	19	to	to	ADP
fbem-10372	23	20	as	as	ADP
fbem-10372	23	21	marketing	marketing	NOUN
fbem-10372	23	22	expenses	expense	NOUN
fbem-10372	23	23	.	.	PUNCT
fbem-10372	24	1	previous	previous	ADJ
fbem-10372	24	2	studies	study	NOUN
fbem-10372	24	3	mainly	mainly	ADV
fbem-10372	24	4	focused	focus	VERB
fbem-10372	24	5	on	on	ADP
fbem-10372	24	6	the	the	DET
fbem-10372	24	7	impact	impact	NOUN
fbem-10372	24	8	of	of	ADP
fbem-10372	24	9	marketing	marketing	NOUN
fbem-10372	24	10	expenses	expense	NOUN
fbem-10372	24	11	on	on	ADP
fbem-10372	24	12	the	the	DET
fbem-10372	24	13	company	company	NOUN
fbem-10372	24	14	's	's	PART
fbem-10372	24	15	operational	operational	ADJ
fbem-10372	24	16	management	management	NOUN
fbem-10372	24	17	performance	performance	NOUN
fbem-10372	24	18	.	.	PUNCT
fbem-10372	25	1	however	however	ADV
fbem-10372	25	2	,	,	PUNCT
fbem-10372	25	3	in	in	ADP
fbem-10372	25	4	this	this	DET
fbem-10372	25	5	study	study	NOUN
fbem-10372	25	6	,	,	PUNCT
fbem-10372	25	7	the	the	DET
fbem-10372	25	8	author	author	NOUN
fbem-10372	25	9	categorizes	categorize	VERB
fbem-10372	25	10	the	the	DET
fbem-10372	25	11	costs	cost	NOUN
fbem-10372	25	12	incurred	incur	VERB
fbem-10372	25	13	from	from	ADP
fbem-10372	25	14	different	different	ADJ
fbem-10372	25	15	sales	sale	NOUN
fbem-10372	25	16	strategies	strategy	NOUN
fbem-10372	25	17	into	into	ADP
fbem-10372	25	18	advertising	advertising	NOUN
fbem-10372	25	19	and	and	CCONJ
fbem-10372	25	20	promotion	promotion	NOUN
fbem-10372	25	21	expenses	expense	NOUN
fbem-10372	25	22	,	,	PUNCT
fbem-10372	25	23	public	public	ADJ
fbem-10372	25	24	relations	relation	NOUN
fbem-10372	25	25	costs	cost	NOUN
fbem-10372	25	26	,	,	PUNCT
fbem-10372	25	27	market	market	NOUN
fbem-10372	25	28	promotion	promotion	NOUN
fbem-10372	25	29	expenses	expense	NOUN
fbem-10372	25	30	,	,	PUNCT
fbem-10372	25	31	and	and	CCONJ
fbem-10372	25	32	salesperson	salesperson	NOUN
fbem-10372	25	33	-	-	PUNCT
fbem-10372	25	34	related	relate	VERB
fbem-10372	25	35	expenses	expense	NOUN
fbem-10372	25	36	.	.	PUNCT
fbem-10372	26	1	1.3	1.3	NUM
fbem-10372	26	2	.	.	PUNCT
fbem-10372	26	3	research	research	NOUN
fbem-10372	26	4	methods	method	NOUN
fbem-10372	26	5	and	and	CCONJ
fbem-10372	26	6	content	content	NOUN
fbem-10372	26	7	in	in	ADP
fbem-10372	26	8	this	this	DET
fbem-10372	26	9	study	study	NOUN
fbem-10372	26	10	,	,	PUNCT
fbem-10372	26	11	cr	cr	PROPN
fbem-10372	26	12	sanjiu	sanjiu	PROPN
fbem-10372	26	13	pharmaceutical	pharmaceutical	PROPN
fbem-10372	26	14	co.	co.	PROPN
fbem-10372	26	15	,	,	PUNCT
fbem-10372	26	16	ltd	ltd	PROPN
fbem-10372	26	17	.	.	PROPN
fbem-10372	26	18	is	be	AUX
fbem-10372	26	19	selected	select	VERB
fbem-10372	26	20	as	as	ADP
fbem-10372	26	21	the	the	DET
fbem-10372	26	22	research	research	NOUN
fbem-10372	26	23	subject	subject	NOUN
fbem-10372	26	24	.	.	PUNCT
fbem-10372	27	1	based	base	VERB
fbem-10372	27	2	on	on	ADP
fbem-10372	27	3	empirical	empirical	ADJ
fbem-10372	27	4	research	research	NOUN
fbem-10372	27	5	methods	method	NOUN
fbem-10372	27	6	,	,	PUNCT
fbem-10372	27	7	the	the	DET
fbem-10372	27	8	impact	impact	NOUN
fbem-10372	27	9	of	of	ADP
fbem-10372	27	10	cr	cr	PROPN
fbem-10372	27	11	sanjiu	sanjiu	PROPN
fbem-10372	27	12	's	's	PART
fbem-10372	27	13	marketing	marketing	NOUN
fbem-10372	27	14	expenses	expense	NOUN
fbem-10372	27	15	on	on	ADP
fbem-10372	27	16	its	its	PRON
fbem-10372	27	17	corporate	corporate	ADJ
fbem-10372	27	18	performance	performance	NOUN
fbem-10372	27	19	will	will	AUX
fbem-10372	27	20	be	be	AUX
fbem-10372	27	21	analyzed	analyze	VERB
fbem-10372	27	22	.	.	PUNCT
fbem-10372	28	1	the	the	DET
fbem-10372	28	2	study	study	NOUN
fbem-10372	28	3	will	will	AUX
fbem-10372	28	4	conclude	conclude	VERB
fbem-10372	28	5	with	with	ADP
fbem-10372	28	6	findings	finding	NOUN
fbem-10372	28	7	and	and	CCONJ
fbem-10372	28	8	recommendations	recommendation	NOUN
fbem-10372	28	9	.	.	PUNCT
fbem-10372	29	1	2	2	X
fbem-10372	29	2	.	.	X
fbem-10372	29	3	definition	definition	NOUN
fbem-10372	29	4	of	of	ADP
fbem-10372	29	5	related	related	ADJ
fbem-10372	29	6	concepts	concept	NOUN
fbem-10372	29	7	2.1	2.1	NUM
fbem-10372	29	8	.	.	PUNCT
fbem-10372	30	1	conceptual	conceptual	ADJ
fbem-10372	30	2	definitions	definition	NOUN
fbem-10372	30	3	2.1.1	2.1.1	NUM
fbem-10372	30	4	.	.	PUNCT
fbem-10372	31	1	marketing	marketing	NOUN
fbem-10372	31	2	expenses	expense	NOUN
fbem-10372	31	3	marketing	marketing	NOUN
fbem-10372	31	4	expenses	expense	NOUN
fbem-10372	31	5	refer	refer	VERB
fbem-10372	31	6	to	to	ADP
fbem-10372	31	7	the	the	DET
fbem-10372	31	8	costs	cost	NOUN
fbem-10372	31	9	incurred	incur	VERB
fbem-10372	31	10	by	by	ADP
fbem-10372	31	11	a	a	DET
fbem-10372	31	12	company	company	NOUN
fbem-10372	31	13	to	to	PART
fbem-10372	31	14	enhance	enhance	VERB
fbem-10372	31	15	awareness	awareness	NOUN
fbem-10372	31	16	of	of	ADP
fbem-10372	31	17	its	its	PRON
fbem-10372	31	18	products	product	NOUN
fbem-10372	31	19	,	,	PUNCT
fbem-10372	31	20	showcase	showcase	VERB
fbem-10372	31	21	their	their	PRON
fbem-10372	31	22	functionalities	functionality	NOUN
fbem-10372	31	23	and	and	CCONJ
fbem-10372	31	24	advantages	advantage	NOUN
fbem-10372	31	25	to	to	ADP
fbem-10372	31	26	consumers	consumer	NOUN
fbem-10372	31	27	,	,	PUNCT
fbem-10372	31	28	and	and	CCONJ
fbem-10372	31	29	utilize	utilize	VERB
fbem-10372	31	30	various	various	ADJ
fbem-10372	31	31	communication	communication	NOUN
fbem-10372	31	32	channels	channel	NOUN
fbem-10372	31	33	to	to	PART
fbem-10372	31	34	stimulate	stimulate	VERB
fbem-10372	31	35	consumer	consumer	NOUN
fbem-10372	31	36	interest	interest	NOUN
fbem-10372	31	37	in	in	ADP
fbem-10372	31	38	purchasing	purchase	VERB
fbem-10372	31	39	the	the	DET
fbem-10372	31	40	company	company	NOUN
fbem-10372	31	41	's	's	PART
fbem-10372	31	42	products	product	NOUN
fbem-10372	31	43	or	or	CCONJ
fbem-10372	31	44	to	to	PART
fbem-10372	31	45	increase	increase	VERB
fbem-10372	31	46	210	210	NUM
fbem-10372	31	47	the	the	DET
fbem-10372	31	48	company	company	NOUN
fbem-10372	31	49	's	's	PART
fbem-10372	31	50	visibility	visibility	NOUN
fbem-10372	31	51	.	.	PUNCT
fbem-10372	32	1	the	the	DET
fbem-10372	32	2	total	total	ADJ
fbem-10372	32	3	expenses	expense	NOUN
fbem-10372	32	4	associated	associate	VERB
fbem-10372	32	5	with	with	ADP
fbem-10372	32	6	these	these	DET
fbem-10372	32	7	marketing	marketing	NOUN
fbem-10372	32	8	activities	activity	NOUN
fbem-10372	32	9	are	be	AUX
fbem-10372	32	10	collectively	collectively	ADV
fbem-10372	32	11	referred	refer	VERB
fbem-10372	32	12	to	to	ADP
fbem-10372	32	13	as	as	ADP
fbem-10372	32	14	marketing	marketing	NOUN
fbem-10372	32	15	expenses	expense	NOUN
fbem-10372	32	16	.	.	PUNCT
fbem-10372	33	1	2.1.2	2.1.2	X
fbem-10372	33	2	.	.	PUNCT
fbem-10372	33	3	components	component	NOUN
fbem-10372	33	4	of	of	ADP
fbem-10372	33	5	marketing	marketing	NOUN
fbem-10372	33	6	expenses	expense	VERB
fbem-10372	33	7	the	the	DET
fbem-10372	33	8	composition	composition	NOUN
fbem-10372	33	9	of	of	ADP
fbem-10372	33	10	marketing	marketing	NOUN
fbem-10372	33	11	expenses	expense	NOUN
fbem-10372	33	12	may	may	AUX
fbem-10372	33	13	vary	vary	VERB
fbem-10372	33	14	among	among	ADP
fbem-10372	33	15	different	different	ADJ
fbem-10372	33	16	companies	company	NOUN
fbem-10372	33	17	.	.	PUNCT
fbem-10372	34	1	however	however	ADV
fbem-10372	34	2	,	,	PUNCT
fbem-10372	34	3	commonly	commonly	ADV
fbem-10372	34	4	utilized	utilize	VERB
fbem-10372	34	5	sales	sale	NOUN
fbem-10372	34	6	methods	method	NOUN
fbem-10372	34	7	include	include	VERB
fbem-10372	34	8	advertising	advertising	NOUN
fbem-10372	34	9	,	,	PUNCT
fbem-10372	34	10	salesperson	salesperson	NOUN
fbem-10372	34	11	-	-	PUNCT
fbem-10372	34	12	related	relate	VERB
fbem-10372	34	13	expenses	expense	NOUN
fbem-10372	34	14	,	,	PUNCT
fbem-10372	34	15	market	market	NOUN
fbem-10372	34	16	promotion	promotion	NOUN
fbem-10372	34	17	and	and	CCONJ
fbem-10372	34	18	advertising	advertising	NOUN
fbem-10372	34	19	,	,	PUNCT
fbem-10372	34	20	and	and	CCONJ
fbem-10372	34	21	public	public	ADJ
fbem-10372	34	22	relations	relation	NOUN
fbem-10372	34	23	.	.	PUNCT
fbem-10372	35	1	the	the	DET
fbem-10372	35	2	costs	cost	NOUN
fbem-10372	35	3	associated	associate	VERB
fbem-10372	35	4	with	with	ADP
fbem-10372	35	5	these	these	DET
fbem-10372	35	6	activities	activity	NOUN
fbem-10372	35	7	constitute	constitute	VERB
fbem-10372	35	8	marketing	marketing	NOUN
fbem-10372	35	9	expenses	expense	NOUN
fbem-10372	35	10	.	.	PUNCT
fbem-10372	36	1	2.2	2.2	NUM
fbem-10372	36	2	.	.	PUNCT
fbem-10372	37	1	business	business	NOUN
fbem-10372	37	2	performance	performance	NOUN
fbem-10372	37	3	business	business	NOUN
fbem-10372	37	4	performance	performance	NOUN
fbem-10372	37	5	refers	refer	VERB
fbem-10372	37	6	to	to	ADP
fbem-10372	37	7	the	the	DET
fbem-10372	37	8	measurement	measurement	NOUN
fbem-10372	37	9	of	of	ADP
fbem-10372	37	10	a	a	DET
fbem-10372	37	11	company	company	NOUN
fbem-10372	37	12	's	's	PART
fbem-10372	37	13	ability	ability	NOUN
fbem-10372	37	14	and	and	CCONJ
fbem-10372	37	15	results	result	NOUN
fbem-10372	37	16	in	in	ADP
fbem-10372	37	17	achieving	achieve	VERB
fbem-10372	37	18	its	its	PRON
fbem-10372	37	19	business	business	NOUN
fbem-10372	37	20	objectives	objective	NOUN
fbem-10372	37	21	.	.	PUNCT
fbem-10372	38	1	it	it	PRON
fbem-10372	38	2	is	be	AUX
fbem-10372	38	3	an	an	DET
fbem-10372	38	4	important	important	ADJ
fbem-10372	38	5	indicator	indicator	NOUN
fbem-10372	38	6	of	of	ADP
fbem-10372	38	7	the	the	DET
fbem-10372	38	8	company	company	NOUN
fbem-10372	38	9	's	's	PART
fbem-10372	38	10	development	development	NOUN
fbem-10372	38	11	.	.	PUNCT
fbem-10372	39	1	business	business	NOUN
fbem-10372	39	2	performance	performance	NOUN
fbem-10372	39	3	generally	generally	ADV
fbem-10372	39	4	represents	represent	VERB
fbem-10372	39	5	the	the	DET
fbem-10372	39	6	level	level	NOUN
fbem-10372	39	7	of	of	ADP
fbem-10372	39	8	work	work	NOUN
fbem-10372	39	9	achievements	achievement	NOUN
fbem-10372	39	10	completed	complete	VERB
fbem-10372	39	11	by	by	ADP
fbem-10372	39	12	the	the	DET
fbem-10372	39	13	company	company	NOUN
fbem-10372	39	14	during	during	ADP
fbem-10372	39	15	its	its	PRON
fbem-10372	39	16	continuous	continuous	ADJ
fbem-10372	39	17	operation	operation	NOUN
fbem-10372	39	18	.	.	PUNCT
fbem-10372	40	1	it	it	PRON
fbem-10372	40	2	primarily	primarily	ADV
fbem-10372	40	3	assesses	assess	VERB
fbem-10372	40	4	the	the	DET
fbem-10372	40	5	company	company	NOUN
fbem-10372	40	6	's	's	PART
fbem-10372	40	7	financial	financial	ADJ
fbem-10372	40	8	performance	performance	NOUN
fbem-10372	40	9	from	from	ADP
fbem-10372	40	10	four	four	NUM
fbem-10372	40	11	perspectives	perspective	NOUN
fbem-10372	40	12	:	:	PUNCT
fbem-10372	40	13	profitability	profitability	NOUN
fbem-10372	40	14	,	,	PUNCT
fbem-10372	40	15	comprehensive	comprehensive	ADJ
fbem-10372	40	16	operational	operational	ADJ
fbem-10372	40	17	management	management	NOUN
fbem-10372	40	18	capabilities	capability	NOUN
fbem-10372	40	19	,	,	PUNCT
fbem-10372	40	20	debt	debt	NOUN
fbem-10372	40	21	repayment	repayment	NOUN
fbem-10372	40	22	capabilities	capability	NOUN
fbem-10372	40	23	,	,	PUNCT
fbem-10372	40	24	and	and	CCONJ
fbem-10372	40	25	development	development	NOUN
fbem-10372	40	26	level	level	NOUN
fbem-10372	40	27	.	.	PUNCT
fbem-10372	41	1	3	3	X
fbem-10372	41	2	.	.	X
fbem-10372	41	3	research	research	NOUN
fbem-10372	41	4	hypothesis	hypothesis	NOUN
fbem-10372	41	5	and	and	CCONJ
fbem-10372	41	6	design	design	NOUN
fbem-10372	41	7	3.1	3.1	NUM
fbem-10372	41	8	.	.	PUNCT
fbem-10372	42	1	research	research	NOUN
fbem-10372	42	2	hypotheses	hypothesis	NOUN
fbem-10372	42	3	3.1.1	3.1.1	NUM
fbem-10372	42	4	.	.	PUNCT
fbem-10372	43	1	hypothesis	hypothesis	NOUN
fbem-10372	43	2	on	on	ADP
fbem-10372	43	3	the	the	DET
fbem-10372	43	4	relationship	relationship	NOUN
fbem-10372	43	5	between	between	ADP
fbem-10372	43	6	marketing	marketing	NOUN
fbem-10372	43	7	expenses	expense	NOUN
fbem-10372	43	8	and	and	CCONJ
fbem-10372	43	9	profitability	profitability	NOUN
fbem-10372	43	10	under	under	ADP
fbem-10372	43	11	the	the	DET
fbem-10372	43	12	premise	premise	NOUN
fbem-10372	43	13	of	of	ADP
fbem-10372	43	14	well	well	ADV
fbem-10372	43	15	-	-	PUNCT
fbem-10372	43	16	controlled	control	VERB
fbem-10372	43	17	sales	sale	NOUN
fbem-10372	43	18	and	and	CCONJ
fbem-10372	43	19	management	management	NOUN
fbem-10372	43	20	expenses	expense	NOUN
fbem-10372	43	21	,	,	PUNCT
fbem-10372	43	22	an	an	DET
fbem-10372	43	23	increase	increase	NOUN
fbem-10372	43	24	in	in	ADP
fbem-10372	43	25	cost	cost	NOUN
fbem-10372	43	26	expenses	expense	NOUN
fbem-10372	43	27	will	will	AUX
fbem-10372	43	28	enhance	enhance	VERB
fbem-10372	43	29	profitability	profitability	NOUN
fbem-10372	43	30	.	.	PUNCT
fbem-10372	44	1	investment	investment	NOUN
fbem-10372	44	2	in	in	ADP
fbem-10372	44	3	advertising	advertising	NOUN
fbem-10372	44	4	will	will	AUX
fbem-10372	44	5	contribute	contribute	VERB
fbem-10372	44	6	positively	positively	ADV
fbem-10372	44	7	to	to	ADP
fbem-10372	44	8	the	the	DET
fbem-10372	44	9	company	company	NOUN
fbem-10372	44	10	's	's	PART
fbem-10372	44	11	value	value	NOUN
fbem-10372	44	12	and	and	CCONJ
fbem-10372	44	13	have	have	VERB
fbem-10372	44	14	a	a	DET
fbem-10372	44	15	favorable	favorable	ADJ
fbem-10372	44	16	impact	impact	NOUN
fbem-10372	44	17	on	on	ADP
fbem-10372	44	18	its	its	PRON
fbem-10372	44	19	performance	performance	NOUN
fbem-10372	44	20	.	.	PUNCT
fbem-10372	45	1	based	base	VERB
fbem-10372	45	2	on	on	ADP
fbem-10372	45	3	the	the	DET
fbem-10372	45	4	above	above	ADJ
fbem-10372	45	5	analysis	analysis	NOUN
fbem-10372	45	6	,	,	PUNCT
fbem-10372	45	7	this	this	DET
fbem-10372	45	8	study	study	NOUN
fbem-10372	45	9	proposes	propose	VERB
fbem-10372	45	10	hypothesis	hypothesis	NOUN
fbem-10372	45	11	1	1	NUM
fbem-10372	45	12	:	:	PUNCT
fbem-10372	45	13	h1	h1	NOUN
fbem-10372	45	14	:	:	PUNCT
fbem-10372	45	15	there	there	PRON
fbem-10372	45	16	is	be	VERB
fbem-10372	45	17	a	a	DET
fbem-10372	45	18	positive	positive	ADJ
fbem-10372	45	19	correlation	correlation	NOUN
fbem-10372	45	20	between	between	ADP
fbem-10372	45	21	marketing	marketing	NOUN
fbem-10372	45	22	expenses	expense	NOUN
fbem-10372	45	23	and	and	CCONJ
fbem-10372	45	24	profitability	profitability	NOUN
fbem-10372	45	25	of	of	ADP
fbem-10372	45	26	the	the	DET
fbem-10372	45	27	company	company	NOUN
fbem-10372	45	28	.	.	PUNCT
fbem-10372	46	1	3.1.2	3.1.2	X
fbem-10372	46	2	.	.	PUNCT
fbem-10372	46	3	hypothesis	hypothesis	NOUN
fbem-10372	46	4	on	on	ADP
fbem-10372	46	5	the	the	DET
fbem-10372	46	6	relationship	relationship	NOUN
fbem-10372	46	7	between	between	ADP
fbem-10372	46	8	marketing	marketing	NOUN
fbem-10372	46	9	expenses	expense	NOUN
fbem-10372	46	10	and	and	CCONJ
fbem-10372	46	11	business	business	NOUN
fbem-10372	46	12	development	development	NOUN
fbem-10372	46	13	capability	capability	NOUN
fbem-10372	46	14	research	research	NOUN
fbem-10372	46	15	conducted	conduct	VERB
fbem-10372	46	16	by	by	ADP
fbem-10372	46	17	many	many	ADJ
fbem-10372	46	18	experts	expert	NOUN
fbem-10372	46	19	and	and	CCONJ
fbem-10372	46	20	scholars	scholar	NOUN
fbem-10372	46	21	in	in	ADP
fbem-10372	46	22	china	china	PROPN
fbem-10372	46	23	indicates	indicate	VERB
fbem-10372	46	24	that	that	SCONJ
fbem-10372	46	25	a	a	DET
fbem-10372	46	26	company	company	NOUN
fbem-10372	46	27	's	's	PART
fbem-10372	46	28	sales	sale	NOUN
fbem-10372	46	29	cost	cost	NOUN
fbem-10372	46	30	expenses	expense	NOUN
fbem-10372	46	31	play	play	VERB
fbem-10372	46	32	a	a	DET
fbem-10372	46	33	positive	positive	ADJ
fbem-10372	46	34	role	role	NOUN
fbem-10372	46	35	in	in	ADP
fbem-10372	46	36	improving	improve	VERB
fbem-10372	46	37	its	its	PRON
fbem-10372	46	38	operational	operational	ADJ
fbem-10372	46	39	management	management	NOUN
fbem-10372	46	40	performance	performance	NOUN
fbem-10372	46	41	.	.	PUNCT
fbem-10372	47	1	the	the	DET
fbem-10372	47	2	investment	investment	NOUN
fbem-10372	47	3	in	in	ADP
fbem-10372	47	4	increased	increase	VERB
fbem-10372	47	5	sales	sale	NOUN
fbem-10372	47	6	cost	cost	NOUN
fbem-10372	47	7	expenses	expense	NOUN
fbem-10372	47	8	can	can	AUX
fbem-10372	47	9	lead	lead	VERB
fbem-10372	47	10	to	to	ADP
fbem-10372	47	11	favorable	favorable	ADJ
fbem-10372	47	12	performance	performance	NOUN
fbem-10372	47	13	outcomes	outcome	NOUN
fbem-10372	47	14	.	.	PUNCT
fbem-10372	48	1	hypothesis	hypothesis	NOUN
fbem-10372	48	2	h2	h2	PROPN
fbem-10372	48	3	suggests	suggest	VERB
fbem-10372	48	4	that	that	SCONJ
fbem-10372	48	5	the	the	DET
fbem-10372	48	6	increase	increase	NOUN
fbem-10372	48	7	in	in	ADP
fbem-10372	48	8	marketing	marketing	NOUN
fbem-10372	48	9	expenses	expense	NOUN
fbem-10372	48	10	can	can	AUX
fbem-10372	48	11	promote	promote	VERB
fbem-10372	48	12	improvements	improvement	NOUN
fbem-10372	48	13	across	across	ADP
fbem-10372	48	14	various	various	ADJ
fbem-10372	48	15	dimensions	dimension	NOUN
fbem-10372	48	16	of	of	ADP
fbem-10372	48	17	the	the	DET
fbem-10372	48	18	company	company	NOUN
fbem-10372	48	19	,	,	PUNCT
fbem-10372	48	20	leading	lead	VERB
fbem-10372	48	21	to	to	ADP
fbem-10372	48	22	a	a	DET
fbem-10372	48	23	virtuous	virtuous	ADJ
fbem-10372	48	24	cycle	cycle	NOUN
fbem-10372	48	25	and	and	CCONJ
fbem-10372	48	26	positive	positive	ADJ
fbem-10372	48	27	impacts	impact	NOUN
fbem-10372	48	28	on	on	ADP
fbem-10372	48	29	public	public	ADJ
fbem-10372	48	30	relations	relation	NOUN
fbem-10372	48	31	,	,	PUNCT
fbem-10372	48	32	financial	financial	ADJ
fbem-10372	48	33	performance	performance	NOUN
fbem-10372	48	34	,	,	PUNCT
fbem-10372	48	35	operational	operational	ADJ
fbem-10372	48	36	management	management	NOUN
fbem-10372	48	37	,	,	PUNCT
fbem-10372	48	38	and	and	CCONJ
fbem-10372	48	39	more	more	ADJ
fbem-10372	48	40	.	.	PUNCT
fbem-10372	49	1	based	base	VERB
fbem-10372	49	2	on	on	ADP
fbem-10372	49	3	this	this	PRON
fbem-10372	49	4	,	,	PUNCT
fbem-10372	49	5	the	the	DET
fbem-10372	49	6	study	study	NOUN
fbem-10372	49	7	proposes	propose	VERB
fbem-10372	49	8	hypothesis	hypothesis	NOUN
fbem-10372	49	9	2	2	NUM
fbem-10372	49	10	:	:	PUNCT
fbem-10372	49	11	h2	h2	NOUN
fbem-10372	49	12	:	:	PUNCT
fbem-10372	49	13	there	there	PRON
fbem-10372	49	14	is	be	VERB
fbem-10372	49	15	a	a	DET
fbem-10372	49	16	positive	positive	ADJ
fbem-10372	49	17	correlation	correlation	NOUN
fbem-10372	49	18	between	between	ADP
fbem-10372	49	19	marketing	marketing	NOUN
fbem-10372	49	20	expenses	expense	NOUN
fbem-10372	49	21	and	and	CCONJ
fbem-10372	49	22	business	business	NOUN
fbem-10372	49	23	development	development	NOUN
fbem-10372	49	24	capability	capability	NOUN
fbem-10372	49	25	of	of	ADP
fbem-10372	49	26	the	the	DET
fbem-10372	49	27	company	company	NOUN
fbem-10372	49	28	.	.	PUNCT
fbem-10372	50	1	3.1.3	3.1.3	NUM
fbem-10372	50	2	.	.	PUNCT
fbem-10372	50	3	hypothesis	hypothesis	NOUN
fbem-10372	50	4	on	on	ADP
fbem-10372	50	5	the	the	DET
fbem-10372	50	6	relationship	relationship	NOUN
fbem-10372	50	7	between	between	ADP
fbem-10372	50	8	marketing	marketing	NOUN
fbem-10372	50	9	expenses	expense	NOUN
fbem-10372	50	10	and	and	CCONJ
fbem-10372	50	11	debt	debt	NOUN
fbem-10372	50	12	repayment	repayment	NOUN
fbem-10372	50	13	capability	capability	NOUN
fbem-10372	50	14	since	since	SCONJ
fbem-10372	50	15	marketing	marketing	NOUN
fbem-10372	50	16	expenses	expense	NOUN
fbem-10372	50	17	are	be	AUX
fbem-10372	50	18	also	also	ADV
fbem-10372	50	19	part	part	NOUN
fbem-10372	50	20	of	of	ADP
fbem-10372	50	21	the	the	DET
fbem-10372	50	22	overall	overall	ADJ
fbem-10372	50	23	costs	cost	NOUN
fbem-10372	50	24	of	of	ADP
fbem-10372	50	25	a	a	DET
fbem-10372	50	26	company	company	NOUN
fbem-10372	50	27	,	,	PUNCT
fbem-10372	50	28	they	they	PRON
fbem-10372	50	29	impact	impact	VERB
fbem-10372	50	30	the	the	DET
fbem-10372	50	31	overall	overall	ADJ
fbem-10372	50	32	cash	cash	NOUN
fbem-10372	50	33	flow	flow	NOUN
fbem-10372	50	34	operation	operation	NOUN
fbem-10372	50	35	of	of	ADP
fbem-10372	50	36	the	the	DET
fbem-10372	50	37	company	company	NOUN
fbem-10372	50	38	.	.	PUNCT
fbem-10372	51	1	when	when	SCONJ
fbem-10372	51	2	the	the	DET
fbem-10372	51	3	company	company	NOUN
fbem-10372	51	4	's	's	PART
fbem-10372	51	5	revenue	revenue	NOUN
fbem-10372	51	6	remains	remain	VERB
fbem-10372	51	7	constant	constant	ADJ
fbem-10372	51	8	over	over	ADP
fbem-10372	51	9	a	a	DET
fbem-10372	51	10	certain	certain	ADJ
fbem-10372	51	11	period	period	NOUN
fbem-10372	51	12	,	,	PUNCT
fbem-10372	51	13	an	an	DET
fbem-10372	51	14	increase	increase	NOUN
fbem-10372	51	15	in	in	ADP
fbem-10372	51	16	marketing	marketing	NOUN
fbem-10372	51	17	expenses	expense	NOUN
fbem-10372	51	18	will	will	AUX
fbem-10372	51	19	inevitably	inevitably	ADV
fbem-10372	51	20	weaken	weaken	VERB
fbem-10372	51	21	the	the	DET
fbem-10372	51	22	cash	cash	NOUN
fbem-10372	51	23	flow	flow	NOUN
fbem-10372	51	24	available	available	ADJ
fbem-10372	51	25	for	for	ADP
fbem-10372	51	26	debt	debt	NOUN
fbem-10372	51	27	repayment	repayment	NOUN
fbem-10372	51	28	.	.	PUNCT
fbem-10372	52	1	as	as	SCONJ
fbem-10372	52	2	the	the	DET
fbem-10372	52	3	decision	decision	NOUN
fbem-10372	52	4	-	-	PUNCT
fbem-10372	52	5	making	make	VERB
fbem-10372	52	6	body	body	NOUN
fbem-10372	52	7	responsible	responsible	ADJ
fbem-10372	52	8	for	for	ADP
fbem-10372	52	9	resource	resource	NOUN
fbem-10372	52	10	allocation	allocation	NOUN
fbem-10372	52	11	,	,	PUNCT
fbem-10372	52	12	management	management	NOUN
fbem-10372	52	13	will	will	AUX
fbem-10372	52	14	allocate	allocate	VERB
fbem-10372	52	15	funds	fund	NOUN
fbem-10372	52	16	in	in	ADP
fbem-10372	52	17	the	the	DET
fbem-10372	52	18	direction	direction	NOUN
fbem-10372	52	19	most	most	ADV
fbem-10372	52	20	beneficial	beneficial	ADJ
fbem-10372	52	21	to	to	ADP
fbem-10372	52	22	the	the	DET
fbem-10372	52	23	company	company	NOUN
fbem-10372	52	24	's	's	PART
fbem-10372	52	25	development	development	NOUN
fbem-10372	52	26	.	.	PUNCT
fbem-10372	53	1	therefore	therefore	ADV
fbem-10372	53	2	,	,	PUNCT
fbem-10372	53	3	further	further	ADJ
fbem-10372	53	4	verification	verification	NOUN
fbem-10372	53	5	of	of	ADP
fbem-10372	53	6	this	this	DET
fbem-10372	53	7	hypothesis	hypothesis	NOUN
fbem-10372	53	8	is	be	AUX
fbem-10372	53	9	required	require	VERB
fbem-10372	53	10	.	.	PUNCT
fbem-10372	54	1	based	base	VERB
fbem-10372	54	2	on	on	ADP
fbem-10372	54	3	this	this	PRON
fbem-10372	54	4	,	,	PUNCT
fbem-10372	54	5	the	the	DET
fbem-10372	54	6	study	study	NOUN
fbem-10372	54	7	proposes	propose	VERB
fbem-10372	54	8	hypothesis	hypothesis	NOUN
fbem-10372	54	9	3	3	NUM
fbem-10372	54	10	:	:	PUNCT
fbem-10372	54	11	h3	h3	NOUN
fbem-10372	54	12	:	:	PUNCT
fbem-10372	54	13	there	there	PRON
fbem-10372	54	14	is	be	VERB
fbem-10372	54	15	a	a	DET
fbem-10372	54	16	negative	negative	ADJ
fbem-10372	54	17	correlation	correlation	NOUN
fbem-10372	54	18	between	between	ADP
fbem-10372	54	19	marketing	marketing	NOUN
fbem-10372	54	20	expenses	expense	NOUN
fbem-10372	54	21	and	and	CCONJ
fbem-10372	54	22	the	the	DET
fbem-10372	54	23	debt	debt	NOUN
fbem-10372	54	24	repayment	repayment	NOUN
fbem-10372	54	25	capability	capability	NOUN
fbem-10372	54	26	of	of	ADP
fbem-10372	54	27	the	the	DET
fbem-10372	54	28	company	company	NOUN
fbem-10372	54	29	.	.	PUNCT
fbem-10372	55	1	3.1.4	3.1.4	NUM
fbem-10372	55	2	.	.	PUNCT
fbem-10372	55	3	hypothesis	hypothesis	NOUN
fbem-10372	55	4	on	on	ADP
fbem-10372	55	5	the	the	DET
fbem-10372	55	6	relationship	relationship	NOUN
fbem-10372	55	7	between	between	ADP
fbem-10372	55	8	marketing	marketing	NOUN
fbem-10372	55	9	expenses	expense	NOUN
fbem-10372	55	10	and	and	CCONJ
fbem-10372	55	11	operational	operational	ADJ
fbem-10372	55	12	capability	capability	NOUN
fbem-10372	55	13	of	of	ADP
fbem-10372	55	14	the	the	DET
fbem-10372	55	15	company	company	NOUN
fbem-10372	55	16	the	the	DET
fbem-10372	55	17	investment	investment	NOUN
fbem-10372	55	18	in	in	ADP
fbem-10372	55	19	sales	sale	NOUN
fbem-10372	55	20	cost	cost	NOUN
fbem-10372	55	21	expenses	expense	NOUN
fbem-10372	55	22	by	by	ADP
fbem-10372	55	23	a	a	DET
fbem-10372	55	24	company	company	NOUN
fbem-10372	55	25	can	can	AUX
fbem-10372	55	26	have	have	VERB
fbem-10372	55	27	an	an	DET
fbem-10372	55	28	impact	impact	NOUN
fbem-10372	55	29	on	on	ADP
fbem-10372	55	30	its	its	PRON
fbem-10372	55	31	operational	operational	ADJ
fbem-10372	55	32	management	management	NOUN
fbem-10372	55	33	performance	performance	NOUN
fbem-10372	55	34	.	.	PUNCT
fbem-10372	56	1	however	however	ADV
fbem-10372	56	2	,	,	PUNCT
fbem-10372	56	3	this	this	DET
fbem-10372	56	4	impact	impact	NOUN
fbem-10372	56	5	may	may	AUX
fbem-10372	56	6	not	not	PART
fbem-10372	56	7	be	be	AUX
fbem-10372	56	8	fully	fully	ADV
fbem-10372	56	9	reflected	reflect	VERB
fbem-10372	56	10	in	in	ADP
fbem-10372	56	11	the	the	DET
fbem-10372	56	12	current	current	ADJ
fbem-10372	56	13	period	period	NOUN
fbem-10372	56	14	but	but	CCONJ
fbem-10372	56	15	may	may	AUX
fbem-10372	56	16	exhibit	exhibit	VERB
fbem-10372	56	17	certain	certain	ADJ
fbem-10372	56	18	lag	lag	NOUN
fbem-10372	56	19	effects	effect	NOUN
fbem-10372	56	20	.	.	PUNCT
fbem-10372	57	1	the	the	DET
fbem-10372	57	2	branding	branding	NOUN
fbem-10372	57	3	effects	effect	NOUN
fbem-10372	57	4	brought	bring	VERB
fbem-10372	57	5	by	by	ADP
fbem-10372	57	6	advertising	advertising	NOUN
fbem-10372	57	7	and	and	CCONJ
fbem-10372	57	8	promotional	promotional	ADJ
fbem-10372	57	9	expenses	expense	NOUN
fbem-10372	57	10	are	be	AUX
fbem-10372	57	11	not	not	PART
fbem-10372	57	12	realized	realize	VERB
fbem-10372	57	13	in	in	ADP
fbem-10372	57	14	the	the	DET
fbem-10372	57	15	current	current	ADJ
fbem-10372	57	16	period	period	NOUN
fbem-10372	57	17	's	's	PART
fbem-10372	57	18	economic	economic	ADJ
fbem-10372	57	19	revenue	revenue	NOUN
fbem-10372	57	20	.	.	PUNCT
fbem-10372	58	1	moreover	moreover	ADV
fbem-10372	58	2	,	,	PUNCT
fbem-10372	58	3	uncontrolled	uncontrolled	ADJ
fbem-10372	58	4	growth	growth	NOUN
fbem-10372	58	5	in	in	ADP
fbem-10372	58	6	sales	sale	NOUN
fbem-10372	58	7	expenses	expense	NOUN
fbem-10372	58	8	can	can	AUX
fbem-10372	58	9	directly	directly	ADV
fbem-10372	58	10	interfere	interfere	VERB
fbem-10372	58	11	with	with	ADP
fbem-10372	58	12	the	the	DET
fbem-10372	58	13	company	company	NOUN
fbem-10372	58	14	's	's	PART
fbem-10372	58	15	marketing	marketing	NOUN
fbem-10372	58	16	efficiency	efficiency	NOUN
fbem-10372	58	17	and	and	CCONJ
fbem-10372	58	18	may	may	AUX
fbem-10372	58	19	have	have	VERB
fbem-10372	58	20	a	a	DET
fbem-10372	58	21	negative	negative	ADJ
fbem-10372	58	22	impact	impact	NOUN
fbem-10372	58	23	on	on	ADP
fbem-10372	58	24	the	the	DET
fbem-10372	58	25	company	company	NOUN
fbem-10372	58	26	's	's	PART
fbem-10372	58	27	current	current	ADJ
fbem-10372	58	28	profitability	profitability	NOUN
fbem-10372	58	29	.	.	PUNCT
fbem-10372	59	1	based	base	VERB
fbem-10372	59	2	on	on	ADP
fbem-10372	59	3	the	the	DET
fbem-10372	59	4	above	above	ADJ
fbem-10372	59	5	analysis	analysis	NOUN
fbem-10372	59	6	,	,	PUNCT
fbem-10372	59	7	the	the	DET
fbem-10372	59	8	study	study	NOUN
fbem-10372	59	9	proposes	propose	VERB
fbem-10372	59	10	hypothesis	hypothesis	NOUN
fbem-10372	59	11	4	4	NUM
fbem-10372	59	12	:	:	PUNCT
fbem-10372	59	13	h4	h4	NOUN
fbem-10372	59	14	:	:	PUNCT
fbem-10372	59	15	there	there	PRON
fbem-10372	59	16	is	be	VERB
fbem-10372	59	17	a	a	DET
fbem-10372	59	18	negative	negative	ADJ
fbem-10372	59	19	correlation	correlation	NOUN
fbem-10372	59	20	between	between	ADP
fbem-10372	59	21	marketing	marketing	NOUN
fbem-10372	59	22	expenses	expense	NOUN
fbem-10372	59	23	and	and	CCONJ
fbem-10372	59	24	operational	operational	ADJ
fbem-10372	59	25	capability	capability	NOUN
fbem-10372	59	26	of	of	ADP
fbem-10372	59	27	the	the	DET
fbem-10372	59	28	company	company	NOUN
fbem-10372	59	29	.	.	PUNCT
fbem-10372	60	1	based	base	VERB
fbem-10372	60	2	on	on	ADP
fbem-10372	60	3	the	the	DET
fbem-10372	60	4	analysis	analysis	NOUN
fbem-10372	60	5	presented	present	VERB
fbem-10372	60	6	earlier	early	ADV
fbem-10372	60	7	,	,	PUNCT
fbem-10372	60	8	the	the	DET
fbem-10372	60	9	study	study	NOUN
fbem-10372	60	10	suggests	suggest	VERB
fbem-10372	60	11	that	that	SCONJ
fbem-10372	60	12	marketing	marketing	NOUN
fbem-10372	60	13	expenses	expense	NOUN
fbem-10372	60	14	significantly	significantly	ADV
fbem-10372	60	15	influence	influence	VERB
fbem-10372	60	16	the	the	DET
fbem-10372	60	17	company	company	NOUN
fbem-10372	60	18	's	's	PART
fbem-10372	60	19	abilities	ability	NOUN
fbem-10372	60	20	in	in	ADP
fbem-10372	60	21	terms	term	NOUN
fbem-10372	60	22	of	of	ADP
fbem-10372	60	23	profitability	profitability	NOUN
fbem-10372	60	24	,	,	PUNCT
fbem-10372	60	25	development	development	NOUN
fbem-10372	60	26	,	,	PUNCT
fbem-10372	60	27	debt	debt	NOUN
fbem-10372	60	28	repayment	repayment	NOUN
fbem-10372	60	29	,	,	PUNCT
fbem-10372	60	30	and	and	CCONJ
fbem-10372	60	31	operations	operation	NOUN
fbem-10372	60	32	.	.	PUNCT
fbem-10372	61	1	the	the	DET
fbem-10372	61	2	study	study	NOUN
fbem-10372	61	3	further	far	ADV
fbem-10372	61	4	presents	present	VERB
fbem-10372	61	5	these	these	DET
fbem-10372	61	6	four	four	NUM
fbem-10372	61	7	hypotheses	hypothesis	NOUN
fbem-10372	61	8	.	.	PUNCT
fbem-10372	62	1	in	in	ADP
fbem-10372	62	2	the	the	DET
fbem-10372	62	3	following	follow	VERB
fbem-10372	62	4	sections	section	NOUN
fbem-10372	62	5	,	,	PUNCT
fbem-10372	62	6	the	the	DET
fbem-10372	62	7	hypotheses	hypothesis	NOUN
fbem-10372	62	8	will	will	AUX
fbem-10372	62	9	be	be	AUX
fbem-10372	62	10	empirically	empirically	ADV
fbem-10372	62	11	tested	test	VERB
fbem-10372	62	12	to	to	PART
fbem-10372	62	13	validate	validate	VERB
fbem-10372	62	14	their	their	PRON
fbem-10372	62	15	validity	validity	NOUN
fbem-10372	62	16	.	.	PUNCT
fbem-10372	63	1	3.2	3.2	NUM
fbem-10372	63	2	.	.	PUNCT
fbem-10372	63	3	conceptual	conceptual	ADJ
fbem-10372	63	4	model	model	NOUN
fbem-10372	63	5	diagram	diagram	NOUN
fbem-10372	63	6	taking	take	VERB
fbem-10372	63	7	into	into	ADP
fbem-10372	63	8	consideration	consideration	NOUN
fbem-10372	63	9	the	the	DET
fbem-10372	63	10	aforementioned	aforementioned	ADJ
fbem-10372	63	11	factors	factor	NOUN
fbem-10372	63	12	,	,	PUNCT
fbem-10372	63	13	changes	change	NOUN
fbem-10372	63	14	in	in	ADP
fbem-10372	63	15	marketing	marketing	NOUN
fbem-10372	63	16	expenses	expense	NOUN
fbem-10372	63	17	not	not	PART
fbem-10372	63	18	only	only	ADV
fbem-10372	63	19	affect	affect	VERB
fbem-10372	63	20	short	short	ADJ
fbem-10372	63	21	-	-	PUNCT
fbem-10372	63	22	term	term	NOUN
fbem-10372	63	23	revenue	revenue	NOUN
fbem-10372	63	24	but	but	CCONJ
fbem-10372	63	25	also	also	ADV
fbem-10372	63	26	impact	impact	VERB
fbem-10372	63	27	factors	factor	NOUN
fbem-10372	63	28	such	such	ADJ
fbem-10372	63	29	as	as	ADP
fbem-10372	63	30	net	net	ADJ
fbem-10372	63	31	profit	profit	NOUN
fbem-10372	63	32	.	.	PUNCT
fbem-10372	64	1	this	this	DET
fbem-10372	64	2	study	study	NOUN
fbem-10372	64	3	aims	aim	VERB
fbem-10372	64	4	to	to	PART
fbem-10372	64	5	conduct	conduct	VERB
fbem-10372	64	6	empirical	empirical	ADJ
fbem-10372	64	7	research	research	NOUN
fbem-10372	64	8	in	in	ADP
fbem-10372	64	9	this	this	DET
fbem-10372	64	10	regard	regard	NOUN
fbem-10372	64	11	.	.	PUNCT
fbem-10372	65	1	the	the	DET
fbem-10372	65	2	diagram	diagram	NOUN
fbem-10372	65	3	below	below	ADV
fbem-10372	65	4	illustrates	illustrate	VERB
fbem-10372	65	5	the	the	DET
fbem-10372	65	6	conceptual	conceptual	ADJ
fbem-10372	65	7	model	model	NOUN
fbem-10372	65	8	of	of	ADP
fbem-10372	65	9	this	this	DET
fbem-10372	65	10	study	study	NOUN
fbem-10372	65	11	:	:	PUNCT
fbem-10372	65	12	figure	figure	NOUN
fbem-10372	65	13	1	1	NUM
fbem-10372	65	14	.	.	PUNCT
fbem-10372	66	1	conceptual	conceptual	ADJ
fbem-10372	66	2	model	model	NOUN
fbem-10372	66	3	of	of	ADP
fbem-10372	66	4	the	the	DET
fbem-10372	66	5	impact	impact	NOUN
fbem-10372	66	6	of	of	ADP
fbem-10372	66	7	marketing	marketing	NOUN
fbem-10372	66	8	expenses	expense	NOUN
fbem-10372	66	9	on	on	ADP
fbem-10372	66	10	business	business	NOUN
fbem-10372	66	11	performance	performance	NOUN
fbem-10372	66	12	4	4	NUM
fbem-10372	66	13	.	.	PUNCT
fbem-10372	66	14	sample	sample	NOUN
fbem-10372	66	15	selection	selection	NOUN
fbem-10372	66	16	and	and	CCONJ
fbem-10372	66	17	model	model	NOUN
fbem-10372	66	18	setting	set	VERB
fbem-10372	66	19	4.1	4.1	NUM
fbem-10372	66	20	.	.	PUNCT
fbem-10372	67	1	sample	sample	NOUN
fbem-10372	67	2	selection	selection	NOUN
fbem-10372	67	3	and	and	CCONJ
fbem-10372	67	4	data	datum	NOUN
fbem-10372	67	5	sources	source	NOUN
fbem-10372	67	6	in	in	ADP
fbem-10372	67	7	this	this	DET
fbem-10372	67	8	study	study	NOUN
fbem-10372	67	9	,	,	PUNCT
fbem-10372	67	10	cr	cr	PROPN
fbem-10372	67	11	sanjiu	sanjiu	PROPN
fbem-10372	67	12	pharmaceutical	pharmaceutical	PROPN
fbem-10372	67	13	co.	co.	PROPN
fbem-10372	67	14	,	,	PUNCT
fbem-10372	67	15	ltd	ltd	PROPN
fbem-10372	67	16	.	.	PROPN
fbem-10372	67	17	,	,	PUNCT
fbem-10372	67	18	a	a	DET
fbem-10372	67	19	company	company	NOUN
fbem-10372	67	20	listed	list	VERB
fbem-10372	67	21	on	on	ADP
fbem-10372	67	22	the	the	DET
fbem-10372	67	23	shanghai	shanghai	PROPN
fbem-10372	67	24	and	and	CCONJ
fbem-10372	67	25	shenzhen	shenzhen	PROPN
fbem-10372	67	26	stock	stock	PROPN
fbem-10372	67	27	exchanges	exchange	NOUN
fbem-10372	67	28	,	,	PUNCT
fbem-10372	67	29	is	be	AUX
fbem-10372	67	30	selected	select	VERB
fbem-10372	67	31	as	as	ADP
fbem-10372	67	32	the	the	DET
fbem-10372	67	33	research	research	NOUN
fbem-10372	67	34	sample	sample	NOUN
fbem-10372	67	35	.	.	PUNCT
fbem-10372	68	1	the	the	DET
fbem-10372	68	2	sample	sample	NOUN
fbem-10372	68	3	data	datum	NOUN
fbem-10372	68	4	is	be	AUX
fbem-10372	68	5	collected	collect	VERB
fbem-10372	68	6	for	for	ADP
fbem-10372	68	7	the	the	DET
fbem-10372	68	8	period	period	NOUN
fbem-10372	68	9	from	from	ADP
fbem-10372	68	10	2012	2012	NUM
fbem-10372	68	11	to	to	ADP
fbem-10372	68	12	2021	2021	NUM
fbem-10372	68	13	.	.	PUNCT
fbem-10372	69	1	the	the	DET
fbem-10372	69	2	data	datum	NOUN
fbem-10372	69	3	used	use	VERB
fbem-10372	69	4	in	in	ADP
fbem-10372	69	5	the	the	DET
fbem-10372	69	6	study	study	NOUN
fbem-10372	69	7	is	be	AUX
fbem-10372	69	8	obtained	obtain	VERB
fbem-10372	69	9	from	from	ADP
fbem-10372	69	10	the	the	DET
fbem-10372	69	11	guotai	guotai	NOUN
fbem-10372	69	12	an	an	DET
fbem-10372	69	13	database	database	NOUN
fbem-10372	69	14	and	and	CCONJ
fbem-10372	69	15	the	the	DET
fbem-10372	69	16	reset	reset	NOUN
fbem-10372	69	17	database	database	NOUN
fbem-10372	69	18	.	.	PUNCT
fbem-10372	70	1	the	the	DET
fbem-10372	70	2	data	data	NOUN
fbem-10372	70	3	analysis	analysis	NOUN
fbem-10372	70	4	is	be	AUX
fbem-10372	70	5	conducted	conduct	VERB
fbem-10372	70	6	using	use	VERB
fbem-10372	70	7	stata.17	stata.17	NOUN
fbem-10372	70	8	software	software	NOUN
fbem-10372	70	9	.	.	PUNCT
fbem-10372	71	1	4.2	4.2	NUM
fbem-10372	71	2	.	.	PUNCT
fbem-10372	71	3	measurement	measurement	NOUN
fbem-10372	71	4	and	and	CCONJ
fbem-10372	71	5	definition	definition	NOUN
fbem-10372	71	6	of	of	ADP
fbem-10372	71	7	main	main	ADJ
fbem-10372	71	8	variables	variable	NOUN
fbem-10372	71	9	the	the	DET
fbem-10372	71	10	model	model	NOUN
fbem-10372	71	11	includes	include	VERB
fbem-10372	71	12	the	the	DET
fbem-10372	71	13	explanatory	explanatory	ADJ
fbem-10372	71	14	variable	variable	NOUN
fbem-10372	71	15	of	of	ADP
fbem-10372	71	16	marketing	marketing	NOUN
fbem-10372	71	17	expense	expense	NOUN
fbem-10372	71	18	ratio	ratio	NOUN
fbem-10372	71	19	for	for	ADP
fbem-10372	71	20	financial	financial	ADJ
fbem-10372	71	21	performance	performance	NOUN
fbem-10372	71	22	and	and	CCONJ
fbem-10372	71	23	the	the	DET
fbem-10372	71	24	dependent	dependent	ADJ
fbem-10372	71	25	variables	variable	NOUN
fbem-10372	71	26	of	of	ADP
fbem-10372	71	27	profitability	profitability	NOUN
fbem-10372	71	28	,	,	PUNCT
fbem-10372	71	29	development	development	NOUN
fbem-10372	71	30	capability	capability	NOUN
fbem-10372	71	31	,	,	PUNCT
fbem-10372	71	32	debt	debt	NOUN
fbem-10372	71	33	repayment	repayment	NOUN
fbem-10372	71	34	capability	capability	NOUN
fbem-10372	71	35	,	,	PUNCT
fbem-10372	71	36	and	and	CCONJ
fbem-10372	71	37	operational	operational	ADJ
fbem-10372	71	38	capability	capability	NOUN
fbem-10372	71	39	.	.	PUNCT
fbem-10372	72	1	additionally	additionally	ADV
fbem-10372	72	2	,	,	PUNCT
fbem-10372	72	3	211	211	NUM
fbem-10372	72	4	control	control	NOUN
fbem-10372	72	5	variables	variable	NOUN
fbem-10372	72	6	such	such	ADJ
fbem-10372	72	7	as	as	ADP
fbem-10372	72	8	firm	firm	ADJ
fbem-10372	72	9	size	size	NOUN
fbem-10372	72	10	,	,	PUNCT
fbem-10372	72	11	capital	capital	NOUN
fbem-10372	72	12	structure	structure	NOUN
fbem-10372	72	13	,	,	PUNCT
fbem-10372	72	14	inventory	inventory	NOUN
fbem-10372	72	15	scale	scale	NOUN
fbem-10372	72	16	,	,	PUNCT
fbem-10372	72	17	equity	equity	NOUN
fbem-10372	72	18	concentration	concentration	NOUN
fbem-10372	72	19	,	,	PUNCT
fbem-10372	72	20	total	total	ADJ
fbem-10372	72	21	asset	asset	NOUN
fbem-10372	72	22	turnover	turnover	NOUN
fbem-10372	72	23	,	,	PUNCT
fbem-10372	72	24	and	and	CCONJ
fbem-10372	72	25	annual	annual	ADJ
fbem-10372	72	26	dummy	dummy	ADJ
fbem-10372	72	27	variables	variable	NOUN
fbem-10372	72	28	are	be	AUX
fbem-10372	72	29	considered	consider	VERB
fbem-10372	72	30	.	.	PUNCT
fbem-10372	73	1	first	first	ADV
fbem-10372	73	2	,	,	PUNCT
fbem-10372	73	3	explanatory	explanatory	ADJ
fbem-10372	73	4	variable	variable	NOUN
fbem-10372	73	5	:	:	PUNCT
fbem-10372	73	6	marketing	marketing	NOUN
fbem-10372	73	7	expense	expense	NOUN
fbem-10372	73	8	ratio	ratio	NOUN
fbem-10372	73	9	.	.	PUNCT
fbem-10372	74	1	marketing	marketing	NOUN
fbem-10372	74	2	expenses	expense	NOUN
fbem-10372	74	3	,	,	PUNCT
fbem-10372	74	4	as	as	ADP
fbem-10372	74	5	an	an	DET
fbem-10372	74	6	important	important	ADJ
fbem-10372	74	7	expenditure	expenditure	NOUN
fbem-10372	74	8	for	for	ADP
fbem-10372	74	9	pharmaceutical	pharmaceutical	ADJ
fbem-10372	74	10	companies	company	NOUN
fbem-10372	74	11	,	,	PUNCT
fbem-10372	74	12	play	play	VERB
fbem-10372	74	13	a	a	DET
fbem-10372	74	14	significant	significant	ADJ
fbem-10372	74	15	role	role	NOUN
fbem-10372	74	16	in	in	ADP
fbem-10372	74	17	their	their	PRON
fbem-10372	74	18	development	development	NOUN
fbem-10372	74	19	,	,	PUNCT
fbem-10372	74	20	especially	especially	ADV
fbem-10372	74	21	in	in	ADP
fbem-10372	74	22	the	the	DET
fbem-10372	74	23	context	context	NOUN
fbem-10372	74	24	of	of	ADP
fbem-10372	74	25	pharmaceutical	pharmaceutical	ADJ
fbem-10372	74	26	homogeneity	homogeneity	NOUN
fbem-10372	74	27	.	.	PUNCT
fbem-10372	75	1	the	the	DET
fbem-10372	75	2	marketing	marketing	NOUN
fbem-10372	75	3	expenses	expense	NOUN
fbem-10372	75	4	of	of	ADP
fbem-10372	75	5	pharmaceutical	pharmaceutical	NOUN
fbem-10372	75	6	companies	company	NOUN
fbem-10372	75	7	have	have	VERB
fbem-10372	75	8	important	important	ADJ
fbem-10372	75	9	and	and	CCONJ
fbem-10372	75	10	complex	complex	ADJ
fbem-10372	75	11	effects	effect	NOUN
fbem-10372	75	12	on	on	ADP
fbem-10372	75	13	their	their	PRON
fbem-10372	75	14	overall	overall	ADJ
fbem-10372	75	15	development	development	NOUN
fbem-10372	75	16	.	.	PUNCT
fbem-10372	76	1	the	the	DET
fbem-10372	76	2	article	article	NOUN
fbem-10372	76	3	represents	represent	VERB
fbem-10372	76	4	it	it	PRON
fbem-10372	76	5	using	use	VERB
fbem-10372	76	6	the	the	DET
fbem-10372	76	7	ratio	ratio	NOUN
fbem-10372	76	8	of	of	ADP
fbem-10372	76	9	marketing	marketing	NOUN
fbem-10372	76	10	expenses	expense	NOUN
fbem-10372	76	11	to	to	ADP
fbem-10372	76	12	operating	operate	VERB
fbem-10372	76	13	revenue	revenue	NOUN
fbem-10372	76	14	.	.	PUNCT
fbem-10372	77	1	second	second	ADJ
fbem-10372	77	2	,	,	PUNCT
fbem-10372	77	3	dependent	dependent	ADJ
fbem-10372	77	4	variables	variable	NOUN
fbem-10372	77	5	:	:	PUNCT
fbem-10372	77	6	the	the	DET
fbem-10372	77	7	article	article	NOUN
fbem-10372	77	8	includes	include	VERB
fbem-10372	77	9	four	four	NUM
fbem-10372	77	10	dependent	dependent	ADJ
fbem-10372	77	11	variables	variable	NOUN
fbem-10372	77	12	.	.	PUNCT
fbem-10372	78	1	(	(	PUNCT
fbem-10372	78	2	1	1	X
fbem-10372	78	3	)	)	PUNCT
fbem-10372	78	4	profitability	profitability	NOUN
fbem-10372	78	5	,	,	PUNCT
fbem-10372	78	6	represented	represent	VERB
fbem-10372	78	7	by	by	ADP
fbem-10372	78	8	return	return	NOUN
fbem-10372	78	9	on	on	ADP
fbem-10372	78	10	net	net	ADJ
fbem-10372	78	11	assets	asset	NOUN
fbem-10372	78	12	.	.	PUNCT
fbem-10372	79	1	(	(	PUNCT
fbem-10372	79	2	2	2	X
fbem-10372	79	3	)	)	PUNCT
fbem-10372	79	4	development	development	NOUN
fbem-10372	79	5	capability	capability	NOUN
fbem-10372	79	6	,	,	PUNCT
fbem-10372	79	7	represented	represent	VERB
fbem-10372	79	8	by	by	ADP
fbem-10372	79	9	the	the	DET
fbem-10372	79	10	growth	growth	NOUN
fbem-10372	79	11	rate	rate	NOUN
fbem-10372	79	12	of	of	ADP
fbem-10372	79	13	net	net	ADJ
fbem-10372	79	14	profit	profit	NOUN
fbem-10372	79	15	.	.	PUNCT
fbem-10372	80	1	(	(	PUNCT
fbem-10372	80	2	3	3	X
fbem-10372	80	3	)	)	PUNCT
fbem-10372	80	4	debt	debt	NOUN
fbem-10372	80	5	repayment	repayment	NOUN
fbem-10372	80	6	capability	capability	NOUN
fbem-10372	80	7	,	,	PUNCT
fbem-10372	80	8	represented	represent	VERB
fbem-10372	80	9	by	by	ADP
fbem-10372	80	10	long	long	ADJ
fbem-10372	80	11	-	-	PUNCT
fbem-10372	80	12	term	term	NOUN
fbem-10372	80	13	liabilities	liability	NOUN
fbem-10372	80	14	to	to	ADP
fbem-10372	80	15	equity	equity	NOUN
fbem-10372	80	16	ratio	ratio	NOUN
fbem-10372	80	17	.	.	PUNCT
fbem-10372	81	1	(	(	PUNCT
fbem-10372	81	2	4	4	X
fbem-10372	81	3	)	)	PUNCT
fbem-10372	81	4	operational	operational	ADJ
fbem-10372	81	5	capability	capability	NOUN
fbem-10372	81	6	,	,	PUNCT
fbem-10372	81	7	represented	represent	VERB
fbem-10372	81	8	by	by	ADP
fbem-10372	81	9	the	the	DET
fbem-10372	81	10	growth	growth	NOUN
fbem-10372	81	11	rate	rate	NOUN
fbem-10372	81	12	of	of	ADP
fbem-10372	81	13	operating	operate	VERB
fbem-10372	81	14	cash	cash	NOUN
fbem-10372	81	15	flow	flow	NOUN
fbem-10372	81	16	per	per	ADP
fbem-10372	81	17	share	share	NOUN
fbem-10372	81	18	.	.	PUNCT
fbem-10372	82	1	third	third	ADJ
fbem-10372	82	2	,	,	PUNCT
fbem-10372	82	3	control	control	NOUN
fbem-10372	82	4	variables	variable	NOUN
fbem-10372	82	5	:	:	PUNCT
fbem-10372	82	6	since	since	SCONJ
fbem-10372	82	7	the	the	DET
fbem-10372	82	8	profitability	profitability	NOUN
fbem-10372	82	9	,	,	PUNCT
fbem-10372	82	10	development	development	NOUN
fbem-10372	82	11	capability	capability	NOUN
fbem-10372	82	12	,	,	PUNCT
fbem-10372	82	13	debt	debt	NOUN
fbem-10372	82	14	repayment	repayment	NOUN
fbem-10372	82	15	capability	capability	NOUN
fbem-10372	82	16	,	,	PUNCT
fbem-10372	82	17	and	and	CCONJ
fbem-10372	82	18	operational	operational	ADJ
fbem-10372	82	19	capability	capability	NOUN
fbem-10372	82	20	of	of	ADP
fbem-10372	82	21	a	a	DET
fbem-10372	82	22	company	company	NOUN
fbem-10372	82	23	are	be	AUX
fbem-10372	82	24	influenced	influence	VERB
fbem-10372	82	25	not	not	PART
fbem-10372	82	26	only	only	ADV
fbem-10372	82	27	by	by	ADP
fbem-10372	82	28	the	the	DET
fbem-10372	82	29	marketing	marketing	NOUN
fbem-10372	82	30	expense	expense	NOUN
fbem-10372	82	31	ratio	ratio	NOUN
fbem-10372	82	32	but	but	CCONJ
fbem-10372	82	33	also	also	ADV
fbem-10372	82	34	by	by	ADP
fbem-10372	82	35	other	other	ADJ
fbem-10372	82	36	factors	factor	NOUN
fbem-10372	82	37	,	,	PUNCT
fbem-10372	82	38	the	the	DET
fbem-10372	82	39	article	article	NOUN
fbem-10372	82	40	selects	select	VERB
fbem-10372	82	41	the	the	DET
fbem-10372	82	42	following	follow	VERB
fbem-10372	82	43	control	control	NOUN
fbem-10372	82	44	variables	variable	NOUN
fbem-10372	82	45	:	:	PUNCT
fbem-10372	82	46	(	(	PUNCT
fbem-10372	82	47	1	1	X
fbem-10372	82	48	)	)	PUNCT
fbem-10372	82	49	firm	firm	ADJ
fbem-10372	82	50	size	size	NOUN
fbem-10372	82	51	,	,	PUNCT
fbem-10372	82	52	as	as	SCONJ
fbem-10372	82	53	firm	firm	ADJ
fbem-10372	82	54	size	size	NOUN
fbem-10372	82	55	reflects	reflect	VERB
fbem-10372	82	56	historical	historical	ADJ
fbem-10372	82	57	performance	performance	NOUN
fbem-10372	82	58	and	and	CCONJ
fbem-10372	82	59	serves	serve	VERB
fbem-10372	82	60	as	as	ADP
fbem-10372	82	61	the	the	DET
fbem-10372	82	62	foundation	foundation	NOUN
fbem-10372	82	63	for	for	ADP
fbem-10372	82	64	future	future	ADJ
fbem-10372	82	65	competition	competition	NOUN
fbem-10372	82	66	,	,	PUNCT
fbem-10372	82	67	it	it	PRON
fbem-10372	82	68	can	can	AUX
fbem-10372	82	69	impact	impact	VERB
fbem-10372	82	70	firm	firm	ADJ
fbem-10372	82	71	performance	performance	NOUN
fbem-10372	82	72	.	.	PUNCT
fbem-10372	83	1	it	it	PRON
fbem-10372	83	2	is	be	AUX
fbem-10372	83	3	represented	represent	VERB
fbem-10372	83	4	by	by	ADP
fbem-10372	83	5	the	the	DET
fbem-10372	83	6	natural	natural	ADJ
fbem-10372	83	7	logarithm	logarithm	NOUN
fbem-10372	83	8	of	of	ADP
fbem-10372	83	9	total	total	ADJ
fbem-10372	83	10	assets	asset	NOUN
fbem-10372	83	11	at	at	ADP
fbem-10372	83	12	the	the	DET
fbem-10372	83	13	end	end	NOUN
fbem-10372	83	14	of	of	ADP
fbem-10372	83	15	the	the	DET
fbem-10372	83	16	year	year	NOUN
fbem-10372	83	17	.	.	PUNCT
fbem-10372	84	1	(	(	PUNCT
fbem-10372	84	2	2	2	X
fbem-10372	84	3	)	)	PUNCT
fbem-10372	84	4	capital	capital	NOUN
fbem-10372	84	5	structure	structure	NOUN
fbem-10372	84	6	,	,	PUNCT
fbem-10372	84	7	as	as	SCONJ
fbem-10372	84	8	the	the	DET
fbem-10372	84	9	debt	debt	NOUN
fbem-10372	84	10	level	level	NOUN
fbem-10372	84	11	directly	directly	ADV
fbem-10372	84	12	indicates	indicate	VERB
fbem-10372	84	13	the	the	DET
fbem-10372	84	14	business	business	NOUN
fbem-10372	84	15	situation	situation	NOUN
fbem-10372	84	16	and	and	CCONJ
fbem-10372	84	17	risk	risk	NOUN
fbem-10372	84	18	level	level	NOUN
fbem-10372	84	19	,	,	PUNCT
fbem-10372	84	20	and	and	CCONJ
fbem-10372	84	21	it	it	PRON
fbem-10372	84	22	also	also	ADV
fbem-10372	84	23	affects	affect	VERB
fbem-10372	84	24	financing	financing	NOUN
fbem-10372	84	25	costs	cost	NOUN
fbem-10372	84	26	and	and	CCONJ
fbem-10372	84	27	firm	firm	ADJ
fbem-10372	84	28	performance	performance	NOUN
fbem-10372	84	29	.	.	PUNCT
fbem-10372	85	1	capital	capital	NOUN
fbem-10372	85	2	structure	structure	NOUN
fbem-10372	85	3	management	management	NOUN
fbem-10372	85	4	and	and	CCONJ
fbem-10372	85	5	adjustments	adjustment	NOUN
fbem-10372	85	6	are	be	AUX
fbem-10372	85	7	essential	essential	ADJ
fbem-10372	85	8	factors	factor	NOUN
fbem-10372	85	9	for	for	ADP
fbem-10372	85	10	the	the	DET
fbem-10372	85	11	survival	survival	NOUN
fbem-10372	85	12	and	and	CCONJ
fbem-10372	85	13	development	development	NOUN
fbem-10372	85	14	of	of	ADP
fbem-10372	85	15	a	a	DET
fbem-10372	85	16	company	company	NOUN
fbem-10372	85	17	.	.	PUNCT
fbem-10372	86	1	it	it	PRON
fbem-10372	86	2	is	be	AUX
fbem-10372	86	3	represented	represent	VERB
fbem-10372	86	4	by	by	ADP
fbem-10372	86	5	the	the	DET
fbem-10372	86	6	ratio	ratio	NOUN
fbem-10372	86	7	of	of	ADP
fbem-10372	86	8	total	total	ADJ
fbem-10372	86	9	liabilities	liability	NOUN
fbem-10372	86	10	at	at	ADP
fbem-10372	86	11	the	the	DET
fbem-10372	86	12	end	end	NOUN
fbem-10372	86	13	of	of	ADP
fbem-10372	86	14	the	the	DET
fbem-10372	86	15	year	year	NOUN
fbem-10372	86	16	to	to	ADP
fbem-10372	86	17	total	total	ADJ
fbem-10372	86	18	assets	asset	NOUN
fbem-10372	86	19	at	at	ADP
fbem-10372	86	20	the	the	DET
fbem-10372	86	21	end	end	NOUN
fbem-10372	86	22	of	of	ADP
fbem-10372	86	23	the	the	DET
fbem-10372	86	24	year	year	NOUN
fbem-10372	86	25	.	.	PUNCT
fbem-10372	87	1	(	(	PUNCT
fbem-10372	87	2	3	3	X
fbem-10372	87	3	)	)	PUNCT
fbem-10372	87	4	inventory	inventory	NOUN
fbem-10372	87	5	scale	scale	NOUN
fbem-10372	87	6	,	,	PUNCT
fbem-10372	87	7	the	the	DET
fbem-10372	87	8	efficiency	efficiency	NOUN
fbem-10372	87	9	of	of	ADP
fbem-10372	87	10	managing	manage	VERB
fbem-10372	87	11	accounts	account	NOUN
fbem-10372	87	12	receivable	receivable	ADJ
fbem-10372	87	13	and	and	CCONJ
fbem-10372	87	14	inventory	inventory	NOUN
fbem-10372	87	15	has	have	VERB
fbem-10372	87	16	a	a	DET
fbem-10372	87	17	positive	positive	ADJ
fbem-10372	87	18	correlation	correlation	NOUN
fbem-10372	87	19	with	with	ADP
fbem-10372	87	20	firm	firm	ADJ
fbem-10372	87	21	performance	performance	NOUN
fbem-10372	87	22	.	.	PUNCT
fbem-10372	88	1	it	it	PRON
fbem-10372	88	2	is	be	AUX
fbem-10372	88	3	represented	represent	VERB
fbem-10372	88	4	by	by	ADP
fbem-10372	88	5	the	the	DET
fbem-10372	88	6	logarithm	logarithm	NOUN
fbem-10372	88	7	of	of	ADP
fbem-10372	88	8	inventory	inventory	NOUN
fbem-10372	88	9	value	value	NOUN
fbem-10372	88	10	.	.	PUNCT
fbem-10372	89	1	(	(	PUNCT
fbem-10372	89	2	4	4	X
fbem-10372	89	3	)	)	PUNCT
fbem-10372	89	4	equity	equity	NOUN
fbem-10372	89	5	concentration	concentration	NOUN
fbem-10372	89	6	,	,	PUNCT
fbem-10372	89	7	equity	equity	NOUN
fbem-10372	89	8	concentration	concentration	NOUN
fbem-10372	89	9	implies	imply	VERB
fbem-10372	89	10	different	different	ADJ
fbem-10372	89	11	decision	decision	NOUN
fbem-10372	89	12	-	-	PUNCT
fbem-10372	89	13	making	make	VERB
fbem-10372	89	14	processes	process	NOUN
fbem-10372	89	15	for	for	ADP
fbem-10372	89	16	a	a	DET
fbem-10372	89	17	company	company	NOUN
fbem-10372	89	18	and	and	CCONJ
fbem-10372	89	19	can	can	AUX
fbem-10372	89	20	impact	impact	VERB
fbem-10372	89	21	its	its	PRON
fbem-10372	89	22	operations	operation	NOUN
fbem-10372	89	23	.	.	PUNCT
fbem-10372	90	1	the	the	DET
fbem-10372	90	2	article	article	NOUN
fbem-10372	90	3	uses	use	VERB
fbem-10372	90	4	the	the	DET
fbem-10372	90	5	shareholding	shareholding	NOUN
fbem-10372	90	6	ratio	ratio	NOUN
fbem-10372	90	7	of	of	ADP
fbem-10372	90	8	the	the	DET
fbem-10372	90	9	largest	large	ADJ
fbem-10372	90	10	shareholder	shareholder	NOUN
fbem-10372	90	11	as	as	ADP
fbem-10372	90	12	a	a	DET
fbem-10372	90	13	representation	representation	NOUN
fbem-10372	90	14	.	.	PUNCT
fbem-10372	91	1	(	(	PUNCT
fbem-10372	91	2	5	5	NUM
fbem-10372	91	3	)	)	PUNCT
fbem-10372	91	4	total	total	ADJ
fbem-10372	91	5	asset	asset	NOUN
fbem-10372	91	6	turnover	turnover	NOUN
fbem-10372	91	7	,	,	PUNCT
fbem-10372	91	8	asset	asset	NOUN
fbem-10372	91	9	turnover	turnover	NOUN
fbem-10372	91	10	is	be	AUX
fbem-10372	91	11	an	an	DET
fbem-10372	91	12	important	important	ADJ
fbem-10372	91	13	indicator	indicator	NOUN
fbem-10372	91	14	of	of	ADP
fbem-10372	91	15	firm	firm	ADJ
fbem-10372	91	16	operational	operational	ADJ
fbem-10372	91	17	efficiency	efficiency	NOUN
fbem-10372	91	18	and	and	CCONJ
fbem-10372	91	19	directly	directly	ADV
fbem-10372	91	20	measures	measure	VERB
fbem-10372	91	21	the	the	DET
fbem-10372	91	22	overall	overall	ADJ
fbem-10372	91	23	agency	agency	NOUN
fbem-10372	91	24	efficiency	efficiency	NOUN
fbem-10372	91	25	.	.	PUNCT
fbem-10372	92	1	it	it	PRON
fbem-10372	92	2	is	be	AUX
fbem-10372	92	3	represented	represent	VERB
fbem-10372	92	4	by	by	ADP
fbem-10372	92	5	the	the	DET
fbem-10372	92	6	ratio	ratio	NOUN
fbem-10372	92	7	of	of	ADP
fbem-10372	92	8	total	total	ADJ
fbem-10372	92	9	sales	sale	NOUN
fbem-10372	92	10	revenue	revenue	NOUN
fbem-10372	92	11	to	to	ADP
fbem-10372	92	12	the	the	DET
fbem-10372	92	13	average	average	ADJ
fbem-10372	92	14	total	total	ADJ
fbem-10372	92	15	assets	asset	NOUN
fbem-10372	92	16	.	.	PUNCT
fbem-10372	93	1	(	(	PUNCT
fbem-10372	93	2	6	6	X
fbem-10372	93	3	)	)	PUNCT
fbem-10372	93	4	annual	annual	ADJ
fbem-10372	93	5	dummy	dummy	ADJ
fbem-10372	93	6	variables	variable	NOUN
fbem-10372	93	7	,	,	PUNCT
fbem-10372	93	8	the	the	DET
fbem-10372	93	9	article	article	NOUN
fbem-10372	93	10	includes	include	VERB
fbem-10372	93	11	dummy	dummy	ADJ
fbem-10372	93	12	variables	variable	NOUN
fbem-10372	93	13	based	base	VERB
fbem-10372	93	14	on	on	ADP
fbem-10372	93	15	sample	sample	NOUN
fbem-10372	93	16	years	year	NOUN
fbem-10372	93	17	in	in	ADP
fbem-10372	93	18	the	the	DET
fbem-10372	93	19	model	model	NOUN
fbem-10372	93	20	to	to	PART
fbem-10372	93	21	control	control	VERB
fbem-10372	93	22	for	for	ADP
fbem-10372	93	23	time	time	NOUN
fbem-10372	93	24	-	-	PUNCT
fbem-10372	93	25	fixed	fix	VERB
fbem-10372	93	26	effects	effect	NOUN
fbem-10372	93	27	.	.	PUNCT
fbem-10372	94	1	the	the	DET
fbem-10372	94	2	specific	specific	ADJ
fbem-10372	94	3	definitions	definition	NOUN
fbem-10372	94	4	of	of	ADP
fbem-10372	94	5	the	the	DET
fbem-10372	94	6	variables	variable	NOUN
fbem-10372	94	7	are	be	AUX
fbem-10372	94	8	shown	show	VERB
fbem-10372	94	9	in	in	ADP
fbem-10372	94	10	the	the	DET
fbem-10372	94	11	table	table	NOUN
fbem-10372	94	12	below	below	ADV
fbem-10372	94	13	:	:	PUNCT
fbem-10372	94	14	variable	variable	ADJ
fbem-10372	94	15	type	type	NOUN
fbem-10372	94	16	variable	variable	ADJ
fbem-10372	94	17	name	name	NOUN
fbem-10372	94	18	variable	variable	ADJ
fbem-10372	94	19	symbol	symbol	NOUN
fbem-10372	94	20	measurement	measurement	NOUN
fbem-10372	94	21	method	method	NOUN
fbem-10372	94	22	explanatory	explanatory	ADJ
fbem-10372	94	23	variable	variable	ADJ
fbem-10372	94	24	marketing	marketing	NOUN
fbem-10372	94	25	expense	expense	NOUN
fbem-10372	94	26	ratio	ratio	NOUN
fbem-10372	94	27	re	re	ADP
fbem-10372	94	28	marketing	marketing	NOUN
fbem-10372	94	29	expenses	expense	NOUN
fbem-10372	94	30	/	/	SYM
fbem-10372	94	31	operating	operate	VERB
fbem-10372	94	32	revenue	revenue	NOUN
fbem-10372	94	33	dependent	dependent	ADJ
fbem-10372	94	34	variables	variable	NOUN
fbem-10372	94	35	profitability	profitability	NOUN
fbem-10372	94	36	earn	earn	VERB
fbem-10372	94	37	return	return	NOUN
fbem-10372	94	38	on	on	ADP
fbem-10372	94	39	net	net	ADJ
fbem-10372	94	40	assets	asset	NOUN
fbem-10372	94	41	development	development	NOUN
fbem-10372	94	42	capability	capability	NOUN
fbem-10372	94	43	grow	grow	VERB
fbem-10372	94	44	net	net	ADJ
fbem-10372	94	45	profit	profit	NOUN
fbem-10372	94	46	growth	growth	NOUN
fbem-10372	94	47	rate	rate	NOUN
fbem-10372	94	48	debt	debt	NOUN
fbem-10372	94	49	repayment	repayment	NOUN
fbem-10372	94	50	capability	capability	NOUN
fbem-10372	94	51	pay	pay	VERB
fbem-10372	94	52	long	long	ADJ
fbem-10372	94	53	-	-	PUNCT
fbem-10372	94	54	term	term	NOUN
fbem-10372	94	55	liabilities	liability	NOUN
fbem-10372	94	56	to	to	ADP
fbem-10372	94	57	equity	equity	NOUN
fbem-10372	94	58	ratio	ratio	NOUN
fbem-10372	94	59	operational	operational	ADJ
fbem-10372	94	60	capability	capability	NOUN
fbem-10372	94	61	run	run	NOUN
fbem-10372	94	62	growth	growth	NOUN
fbem-10372	94	63	rate	rate	NOUN
fbem-10372	94	64	of	of	ADP
fbem-10372	94	65	operating	operate	VERB
fbem-10372	94	66	cash	cash	NOUN
fbem-10372	94	67	flow	flow	NOUN
fbem-10372	94	68	per	per	ADP
fbem-10372	94	69	share	share	NOUN
fbem-10372	94	70	control	control	NOUN
fbem-10372	94	71	variables	variable	NOUN
fbem-10372	94	72	firm	firm	ADJ
fbem-10372	94	73	size	size	NOUN
fbem-10372	94	74	size	size	NOUN
fbem-10372	94	75	natural	natural	ADJ
fbem-10372	94	76	logarithm	logarithm	NOUN
fbem-10372	94	77	of	of	ADP
fbem-10372	94	78	total	total	ADJ
fbem-10372	94	79	assets	asset	NOUN
fbem-10372	94	80	at	at	ADP
fbem-10372	94	81	the	the	DET
fbem-10372	94	82	end	end	NOUN
fbem-10372	94	83	of	of	ADP
fbem-10372	94	84	the	the	DET
fbem-10372	94	85	year	year	NOUN
fbem-10372	94	86	capital	capital	NOUN
fbem-10372	94	87	structure	structure	NOUN
fbem-10372	94	88	lev	lev	NOUN
fbem-10372	94	89	ratio	ratio	NOUN
fbem-10372	94	90	of	of	ADP
fbem-10372	94	91	total	total	ADJ
fbem-10372	94	92	liabilities	liability	NOUN
fbem-10372	94	93	at	at	ADP
fbem-10372	94	94	the	the	DET
fbem-10372	94	95	end	end	NOUN
fbem-10372	94	96	of	of	ADP
fbem-10372	94	97	the	the	DET
fbem-10372	94	98	year	year	NOUN
fbem-10372	94	99	to	to	ADP
fbem-10372	94	100	total	total	ADJ
fbem-10372	94	101	assets	asset	NOUN
fbem-10372	94	102	at	at	ADP
fbem-10372	94	103	the	the	DET
fbem-10372	94	104	end	end	NOUN
fbem-10372	94	105	of	of	ADP
fbem-10372	94	106	the	the	DET
fbem-10372	94	107	year	year	NOUN
fbem-10372	94	108	inventory	inventory	NOUN
fbem-10372	94	109	scale	scale	NOUN
fbem-10372	94	110	stock	stock	NOUN
fbem-10372	94	111	natural	natural	ADJ
fbem-10372	94	112	logarithm	logarithm	NOUN
fbem-10372	94	113	of	of	ADP
fbem-10372	94	114	inventory	inventory	NOUN
fbem-10372	94	115	value	value	NOUN
fbem-10372	94	116	total	total	ADJ
fbem-10372	94	117	asset	asset	NOUN
fbem-10372	94	118	turnover	turnover	NOUN
fbem-10372	94	119	turn	turn	VERB
fbem-10372	94	120	ratio	ratio	NOUN
fbem-10372	94	121	of	of	ADP
fbem-10372	94	122	total	total	ADJ
fbem-10372	94	123	sales	sale	NOUN
fbem-10372	94	124	revenue	revenue	NOUN
fbem-10372	94	125	to	to	PART
fbem-10372	94	126	average	average	VERB
fbem-10372	94	127	total	total	ADJ
fbem-10372	94	128	assets	asset	NOUN
fbem-10372	94	129	ownership	ownership	NOUN
fbem-10372	94	130	concentration	concentration	NOUN
fbem-10372	94	131	top1	top1	PROPN
fbem-10372	94	132	shareholding	shareholding	NOUN
fbem-10372	94	133	ratio	ratio	NOUN
fbem-10372	94	134	of	of	ADP
fbem-10372	94	135	the	the	DET
fbem-10372	94	136	largest	large	ADJ
fbem-10372	94	137	shareholder	shareholder	NOUN
fbem-10372	94	138	year	year	NOUN
fbem-10372	94	139	year	year	NOUN
fbem-10372	94	140	annual	annual	ADJ
fbem-10372	94	141	dummy	dummy	ADJ
fbem-10372	94	142	variables	variable	NOUN
fbem-10372	94	143	4.3	4.3	NUM
fbem-10372	94	144	.	.	PUNCT
fbem-10372	95	1	model	model	NOUN
fbem-10372	95	2	construction	construction	NOUN
fbem-10372	95	3	in	in	ADP
fbem-10372	95	4	order	order	NOUN
fbem-10372	95	5	to	to	PART
fbem-10372	95	6	study	study	VERB
fbem-10372	95	7	the	the	DET
fbem-10372	95	8	impact	impact	NOUN
fbem-10372	95	9	of	of	ADP
fbem-10372	95	10	marketing	marketing	NOUN
fbem-10372	95	11	on	on	ADP
fbem-10372	95	12	performance	performance	NOUN
fbem-10372	95	13	,	,	PUNCT
fbem-10372	95	14	the	the	DET
fbem-10372	95	15	article	article	NOUN
fbem-10372	95	16	constructs	construct	VERB
fbem-10372	95	17	the	the	DET
fbem-10372	95	18	following	follow	VERB
fbem-10372	95	19	fixed	fix	VERB
fbem-10372	95	20	-	-	PUNCT
fbem-10372	95	21	effects	effect	NOUN
fbem-10372	95	22	model	model	NOUN
fbem-10372	95	23	for	for	ADP
fbem-10372	95	24	analysis	analysis	NOUN
fbem-10372	95	25	:	:	PUNCT
fbem-10372	95	26	𝐸𝐴𝑅𝑁	𝐸𝐴𝑅𝑁	PROPN
fbem-10372	95	27	𝛼	𝛼	NOUN
fbem-10372	95	28	𝛼	𝛼	NOUN
fbem-10372	95	29	𝑅𝐸	𝑅𝐸	PROPN
fbem-10372	95	30	𝛼	𝛼	PROPN
fbem-10372	95	31	𝑐𝑜𝑛𝑡𝑟𝑜𝑙	𝑐𝑜𝑛𝑡𝑟𝑜𝑙	NOUN
fbem-10372	95	32	𝜂	𝜂	PROPN
fbem-10372	95	33	𝜀	𝜀	X
fbem-10372	95	34	(	(	PUNCT
fbem-10372	95	35	1	1	NUM
fbem-10372	95	36	)	)	PUNCT
fbem-10372	95	37	𝐺𝑅𝑂𝑊	𝐺𝑅𝑂𝑊	PROPN
fbem-10372	95	38	𝛽	𝛽	ADP
fbem-10372	95	39	𝛽	𝛽	NOUN
fbem-10372	95	40	𝑅𝐸	𝑅𝐸	PROPN
fbem-10372	95	41	𝛽	𝛽	PROPN
fbem-10372	95	42	𝑐𝑜𝑛𝑡𝑟𝑜𝑙	𝑐𝑜𝑛𝑡𝑟𝑜𝑙	NOUN
fbem-10372	95	43	𝜂	𝜂	PROPN
fbem-10372	95	44	𝜀	𝜀	X
fbem-10372	95	45	(	(	PUNCT
fbem-10372	95	46	2	2	NUM
fbem-10372	95	47	)	)	PUNCT
fbem-10372	95	48	𝑃𝐴𝑌	𝑃𝐴𝑌	PROPN
fbem-10372	95	49	𝛾	𝛾	NOUN
fbem-10372	95	50	𝛾	𝛾	ADP
fbem-10372	95	51	𝑅𝐸	𝑅𝐸	PROPN
fbem-10372	95	52	𝛾	𝛾	AUX
fbem-10372	95	53	𝑐𝑜𝑛𝑡𝑟𝑜𝑙	𝑐𝑜𝑛𝑡𝑟𝑜𝑙	NOUN
fbem-10372	95	54	𝜂	𝜂	PRON
fbem-10372	95	55	𝜀	𝜀	X
fbem-10372	95	56	(	(	PUNCT
fbem-10372	95	57	3	3	NUM
fbem-10372	95	58	)	)	PUNCT
fbem-10372	95	59	𝑅𝑈𝑁	𝑅𝑈𝑁	PROPN
fbem-10372	95	60	𝛿	𝛿	DET
fbem-10372	95	61	𝛿	𝛿	ADJ
fbem-10372	95	62	𝑅𝐸	𝑅𝐸	PROPN
fbem-10372	95	63	𝛿	𝛿	ADJ
fbem-10372	95	64	𝑐𝑜𝑛𝑡𝑟𝑜𝑙	𝑐𝑜𝑛𝑡𝑟𝑜𝑙	NOUN
fbem-10372	95	65	𝜂	𝜂	PROPN
fbem-10372	95	66	𝜀	𝜀	X
fbem-10372	95	67	(	(	PUNCT
fbem-10372	95	68	4	4	NUM
fbem-10372	95	69	)	)	PUNCT
fbem-10372	95	70	𝑇𝐵𝑄	𝑇𝐵𝑄	PROPN
fbem-10372	95	71	𝜌	𝜌	ADP
fbem-10372	95	72	𝜌	𝜌	ADP
fbem-10372	95	73	𝑅𝐸	𝑅𝐸	PROPN
fbem-10372	95	74	𝜌	𝜌	PART
fbem-10372	95	75	𝑐𝑜𝑛𝑡𝑟𝑜𝑙	𝑐𝑜𝑛𝑡𝑟𝑜𝑙	NOUN
fbem-10372	95	76	𝜂	𝜂	PROPN
fbem-10372	95	77	𝜀	𝜀	X
fbem-10372	95	78	(	(	PUNCT
fbem-10372	95	79	5	5	NUM
fbem-10372	95	80	)	)	PUNCT
fbem-10372	95	81	where	where	SCONJ
fbem-10372	95	82	𝐸𝐴𝑅𝑁	𝐸𝐴𝑅𝑁	PROPN
fbem-10372	95	83	,	,	PUNCT
fbem-10372	95	84	𝐺𝑅𝑂𝑊	𝐺𝑅𝑂𝑊	PROPN
fbem-10372	95	85	,	,	PUNCT
fbem-10372	95	86	𝑃𝐴𝑌	𝑃𝐴𝑌	PROPN
fbem-10372	95	87	,	,	PUNCT
fbem-10372	95	88	and	and	CCONJ
fbem-10372	95	89	𝑅𝑈𝑁	𝑅𝑈𝑁	PROPN
fbem-10372	95	90	represent	represent	VERB
fbem-10372	95	91	the	the	DET
fbem-10372	95	92	firm	firm	NOUN
fbem-10372	95	93	's	's	PART
fbem-10372	95	94	profitability	profitability	NOUN
fbem-10372	95	95	,	,	PUNCT
fbem-10372	95	96	development	development	NOUN
fbem-10372	95	97	capability	capability	NOUN
fbem-10372	95	98	,	,	PUNCT
fbem-10372	95	99	debt	debt	NOUN
fbem-10372	95	100	repayment	repayment	NOUN
fbem-10372	95	101	capability	capability	NOUN
fbem-10372	95	102	,	,	PUNCT
fbem-10372	95	103	and	and	CCONJ
fbem-10372	95	104	operational	operational	ADJ
fbem-10372	95	105	capability	capability	NOUN
fbem-10372	95	106	,	,	PUNCT
fbem-10372	95	107	respectively	respectively	ADV
fbem-10372	95	108	,	,	PUNCT
fbem-10372	95	109	in	in	ADP
fbem-10372	95	110	year	year	NOUN
fbem-10372	95	111	t.	t.	PROPN
fbem-10372	95	112	𝑅𝐸	𝑅𝐸	PROPN
fbem-10372	95	113	represents	represent	VERB
fbem-10372	95	114	the	the	DET
fbem-10372	95	115	marketing	marketing	NOUN
fbem-10372	95	116	expense	expense	NOUN
fbem-10372	95	117	ratio	ratio	NOUN
fbem-10372	95	118	for	for	ADP
fbem-10372	95	119	the	the	DET
fbem-10372	95	120	firm	firm	NOUN
fbem-10372	95	121	in	in	ADP
fbem-10372	95	122	year	year	NOUN
fbem-10372	95	123	t.	t.	PROPN
fbem-10372	95	124	𝑐𝑜𝑛𝑡𝑟𝑜𝑙	𝑐𝑜𝑛𝑡𝑟𝑜𝑙	PROPN
fbem-10372	95	125	represents	represent	VERB
fbem-10372	95	126	the	the	DET
fbem-10372	95	127	set	set	NOUN
fbem-10372	95	128	of	of	ADP
fbem-10372	95	129	control	control	NOUN
fbem-10372	95	130	variables	variable	NOUN
fbem-10372	95	131	in	in	ADP
fbem-10372	95	132	the	the	DET
fbem-10372	95	133	article	article	NOUN
fbem-10372	95	134	,	,	PUNCT
fbem-10372	95	135	including	include	VERB
fbem-10372	95	136	firm	firm	ADJ
fbem-10372	95	137	size	size	NOUN
fbem-10372	95	138	,	,	PUNCT
fbem-10372	95	139	capital	capital	NOUN
fbem-10372	95	140	structure	structure	NOUN
fbem-10372	95	141	,	,	PUNCT
fbem-10372	95	142	inventory	inventory	NOUN
fbem-10372	95	143	scale	scale	NOUN
fbem-10372	95	144	,	,	PUNCT
fbem-10372	95	145	total	total	ADJ
fbem-10372	95	146	asset	asset	NOUN
fbem-10372	95	147	turnover	turnover	NOUN
fbem-10372	95	148	,	,	PUNCT
fbem-10372	95	149	and	and	CCONJ
fbem-10372	95	150	equity	equity	NOUN
fbem-10372	95	151	concentration	concentration	NOUN
fbem-10372	95	152	.	.	PUNCT
fbem-10372	96	1	𝜂	𝜂	NOUN
fbem-10372	96	2	represents	represent	VERB
fbem-10372	96	3	the	the	DET
fbem-10372	96	4	annual	annual	ADJ
fbem-10372	96	5	dummy	dummy	ADJ
fbem-10372	96	6	variables	variable	NOUN
fbem-10372	96	7	.	.	PUNCT
fbem-10372	97	1	𝜀	𝜀	PROPN
fbem-10372	97	2	represents	represent	VERB
fbem-10372	97	3	the	the	DET
fbem-10372	97	4	random	random	ADJ
fbem-10372	97	5	disturbance	disturbance	NOUN
fbem-10372	97	6	term	term	NOUN
fbem-10372	97	7	.	.	PUNCT
fbem-10372	98	1	the	the	DET
fbem-10372	98	2	coefficients	coefficient	NOUN
fbem-10372	98	3	of	of	ADP
fbem-10372	98	4	interest	interest	NOUN
fbem-10372	98	5	in	in	ADP
fbem-10372	98	6	this	this	DET
fbem-10372	98	7	study	study	NOUN
fbem-10372	98	8	are	be	AUX
fbem-10372	98	9	𝛼	𝛼	PRON
fbem-10372	98	10	,	,	PUNCT
fbem-10372	98	11	𝛽	𝛽	PROPN
fbem-10372	98	12	,	,	PUNCT
fbem-10372	98	13	𝛾	𝛾	PROPN
fbem-10372	98	14	,	,	PUNCT
fbem-10372	98	15	𝛿	𝛿	X
fbem-10372	98	16	,	,	PUNCT
fbem-10372	98	17	and	and	CCONJ
fbem-10372	98	18	𝜌	𝜌	X
fbem-10372	98	19	and	and	CCONJ
fbem-10372	98	20	their	their	PRON
fbem-10372	98	21	signs	sign	NOUN
fbem-10372	98	22	and	and	CCONJ
fbem-10372	98	23	significance	significance	NOUN
fbem-10372	98	24	levels	level	NOUN
fbem-10372	98	25	are	be	AUX
fbem-10372	98	26	closely	closely	ADV
fbem-10372	98	27	examined	examine	VERB
fbem-10372	98	28	.	.	PUNCT
fbem-10372	99	1	5	5	X
fbem-10372	99	2	.	.	X
fbem-10372	99	3	experimental	experimental	ADJ
fbem-10372	99	4	test	test	NOUN
fbem-10372	99	5	and	and	CCONJ
fbem-10372	99	6	analysis	analysis	NOUN
fbem-10372	99	7	5.1	5.1	NUM
fbem-10372	99	8	.	.	PUNCT
fbem-10372	100	1	descriptive	descriptive	ADJ
fbem-10372	100	2	statistics	statistic	NOUN
fbem-10372	100	3	212	212	NUM
fbem-10372	100	4	varname	varname	NOUN
fbem-10372	100	5	mean	mean	NOUN
fbem-10372	100	6	standard	standard	ADJ
fbem-10372	100	7	deviation	deviation	NOUN
fbem-10372	100	8	minimum	minimum	NOUN
fbem-10372	100	9	maximum	maximum	NOUN
fbem-10372	100	10	earn	earn	NOUN
fbem-10372	100	11	0.100	0.100	NUM
fbem-10372	100	12	0.534	0.534	NUM
fbem-10372	100	13	-0.934	-0.934	X
fbem-10372	100	14	0.984	0.984	PRON
fbem-10372	100	15	grow	grow	VERB
fbem-10372	100	16	15.197	15.197	NUM
fbem-10372	100	17	2.581	2.581	NUM
fbem-10372	100	18	11.637	11.637	NUM
fbem-10372	100	19	19.209	19.209	NUM
fbem-10372	100	20	pay	pay	VERB
fbem-10372	100	21	0.084	0.084	NUM
fbem-10372	100	22	0.043	0.043	NUM
fbem-10372	100	23	0.041	0.041	NUM
fbem-10372	100	24	0.143	0.143	NUM
fbem-10372	100	25	run	run	VERB
fbem-10372	100	26	0.106	0.106	NUM
fbem-10372	100	27	0.129	0.129	NUM
fbem-10372	100	28	-0.193	-0.193	NUM
fbem-10372	100	29	0.269	0.269	NUM
fbem-10372	100	30	re	re	VERB
fbem-10372	100	31	0.371	0.371	NUM
fbem-10372	100	32	0.059	0.059	NUM
fbem-10372	100	33	0.309	0.309	NUM
fbem-10372	100	34	0.482	0.482	NUM
fbem-10372	100	35	lev	lev	NOUN
fbem-10372	100	36	0.362	0.362	NUM
fbem-10372	100	37	0.012	0.012	NUM
fbem-10372	100	38	0.344	0.344	NUM
fbem-10372	100	39	0.381	0.381	NUM
fbem-10372	100	40	size	size	NOUN
fbem-10372	100	41	23.420	23.420	NUM
fbem-10372	100	42	0.361	0.361	NUM
fbem-10372	100	43	22.876	22.876	NUM
fbem-10372	100	44	23.914	23.914	NUM
fbem-10372	100	45	top1	top1	NOUN
fbem-10372	100	46	0.169	0.169	NUM
fbem-10372	100	47	0.030	0.030	NUM
fbem-10372	100	48	0.125	0.125	NUM
fbem-10372	100	49	0.314	0.314	NUM
fbem-10372	100	50	stock	stock	NOUN
fbem-10372	100	51	20.900	20.900	NUM
fbem-10372	100	52	0.353	0.353	NUM
fbem-10372	100	53	20.529	20.529	NUM
fbem-10372	100	54	21.560	21.560	NUM
fbem-10372	100	55	turn	turn	VERB
fbem-10372	100	56	0.119	0.119	NUM
fbem-10372	100	57	0.048	0.048	NUM
fbem-10372	100	58	0.028	0.028	NUM
fbem-10372	100	59	0.195	0.195	NUM
fbem-10372	100	60	the	the	DET
fbem-10372	100	61	table	table	NOUN
fbem-10372	100	62	above	above	ADP
fbem-10372	100	63	presents	present	VERB
fbem-10372	100	64	the	the	DET
fbem-10372	100	65	descriptive	descriptive	ADJ
fbem-10372	100	66	statistics	statistic	NOUN
fbem-10372	100	67	of	of	ADP
fbem-10372	100	68	variables	variable	NOUN
fbem-10372	100	69	in	in	ADP
fbem-10372	100	70	the	the	DET
fbem-10372	100	71	article	article	NOUN
fbem-10372	100	72	.	.	PUNCT
fbem-10372	101	1	looking	look	VERB
fbem-10372	101	2	at	at	ADP
fbem-10372	101	3	the	the	DET
fbem-10372	101	4	dependent	dependent	ADJ
fbem-10372	101	5	variables	variable	NOUN
fbem-10372	101	6	,	,	PUNCT
fbem-10372	101	7	for	for	ADP
fbem-10372	101	8	profitability	profitability	NOUN
fbem-10372	101	9	,	,	PUNCT
fbem-10372	101	10	cr	cr	PROPN
fbem-10372	101	11	sanjiu	sanjiu	PROPN
fbem-10372	101	12	has	have	VERB
fbem-10372	101	13	a	a	DET
fbem-10372	101	14	mean	mean	ADJ
fbem-10372	101	15	value	value	NOUN
fbem-10372	101	16	of	of	ADP
fbem-10372	101	17	0.1	0.1	NUM
fbem-10372	101	18	,	,	PUNCT
fbem-10372	101	19	a	a	DET
fbem-10372	101	20	standard	standard	ADJ
fbem-10372	101	21	deviation	deviation	NOUN
fbem-10372	101	22	of	of	ADP
fbem-10372	101	23	0.534	0.534	NUM
fbem-10372	101	24	,	,	PUNCT
fbem-10372	101	25	and	and	CCONJ
fbem-10372	101	26	a	a	DET
fbem-10372	101	27	minimum	minimum	ADJ
fbem-10372	101	28	value	value	NOUN
fbem-10372	101	29	of	of	ADP
fbem-10372	101	30	-0.934	-0.934	X
fbem-10372	101	31	,	,	PUNCT
fbem-10372	101	32	indicating	indicate	VERB
fbem-10372	101	33	significant	significant	ADJ
fbem-10372	101	34	variations	variation	NOUN
fbem-10372	101	35	in	in	ADP
fbem-10372	101	36	profitability	profitability	NOUN
fbem-10372	101	37	over	over	ADP
fbem-10372	101	38	the	the	DET
fbem-10372	101	39	past	past	ADJ
fbem-10372	101	40	decade	decade	NOUN
fbem-10372	101	41	.	.	PUNCT
fbem-10372	102	1	in	in	ADP
fbem-10372	102	2	terms	term	NOUN
fbem-10372	102	3	of	of	ADP
fbem-10372	102	4	development	development	NOUN
fbem-10372	102	5	capability	capability	NOUN
fbem-10372	102	6	,	,	PUNCT
fbem-10372	102	7	the	the	DET
fbem-10372	102	8	difference	difference	NOUN
fbem-10372	102	9	between	between	ADP
fbem-10372	102	10	the	the	DET
fbem-10372	102	11	maximum	maximum	ADJ
fbem-10372	102	12	and	and	CCONJ
fbem-10372	102	13	minimum	minimum	ADJ
fbem-10372	102	14	values	value	NOUN
fbem-10372	102	15	is	be	AUX
fbem-10372	102	16	not	not	PART
fbem-10372	102	17	substantial	substantial	ADJ
fbem-10372	102	18	,	,	PUNCT
fbem-10372	102	19	but	but	CCONJ
fbem-10372	102	20	the	the	DET
fbem-10372	102	21	standard	standard	ADJ
fbem-10372	102	22	deviation	deviation	NOUN
fbem-10372	102	23	is	be	AUX
fbem-10372	102	24	15.197	15.197	NUM
fbem-10372	102	25	,	,	PUNCT
fbem-10372	102	26	suggesting	suggest	VERB
fbem-10372	102	27	an	an	DET
fbem-10372	102	28	uneven	uneven	ADJ
fbem-10372	102	29	distribution	distribution	NOUN
fbem-10372	102	30	of	of	ADP
fbem-10372	102	31	development	development	NOUN
fbem-10372	102	32	capability	capability	NOUN
fbem-10372	102	33	across	across	ADP
fbem-10372	102	34	different	different	ADJ
fbem-10372	102	35	years	year	NOUN
fbem-10372	102	36	.	.	PUNCT
fbem-10372	103	1	regarding	regard	VERB
fbem-10372	103	2	debt	debt	NOUN
fbem-10372	103	3	repayment	repayment	NOUN
fbem-10372	103	4	capability	capability	NOUN
fbem-10372	103	5	,	,	PUNCT
fbem-10372	103	6	the	the	DET
fbem-10372	103	7	mean	mean	ADJ
fbem-10372	103	8	and	and	CCONJ
fbem-10372	103	9	standard	standard	ADJ
fbem-10372	103	10	deviation	deviation	NOUN
fbem-10372	103	11	are	be	AUX
fbem-10372	103	12	0.043	0.043	NUM
fbem-10372	103	13	and	and	CCONJ
fbem-10372	103	14	0.041	0.041	NUM
fbem-10372	103	15	,	,	PUNCT
fbem-10372	103	16	respectively	respectively	ADV
fbem-10372	103	17	,	,	PUNCT
fbem-10372	103	18	indicating	indicate	VERB
fbem-10372	103	19	a	a	DET
fbem-10372	103	20	stable	stable	ADJ
fbem-10372	103	21	development	development	NOUN
fbem-10372	103	22	in	in	ADP
fbem-10372	103	23	debt	debt	NOUN
fbem-10372	103	24	repayment	repayment	NOUN
fbem-10372	103	25	capability	capability	NOUN
fbem-10372	103	26	for	for	ADP
fbem-10372	103	27	the	the	DET
fbem-10372	103	28	company	company	NOUN
fbem-10372	103	29	.	.	PUNCT
fbem-10372	104	1	turning	turn	VERB
fbem-10372	104	2	to	to	ADP
fbem-10372	104	3	the	the	DET
fbem-10372	104	4	explanatory	explanatory	ADJ
fbem-10372	104	5	variable	variable	NOUN
fbem-10372	104	6	,	,	PUNCT
fbem-10372	104	7	the	the	DET
fbem-10372	104	8	mean	mean	ADJ
fbem-10372	104	9	marketing	marketing	NOUN
fbem-10372	104	10	expense	expense	NOUN
fbem-10372	104	11	ratio	ratio	NOUN
fbem-10372	104	12	is	be	AUX
fbem-10372	104	13	0.371	0.371	NUM
fbem-10372	104	14	,	,	PUNCT
fbem-10372	104	15	with	with	ADP
fbem-10372	104	16	a	a	DET
fbem-10372	104	17	minimum	minimum	NOUN
fbem-10372	104	18	of	of	ADP
fbem-10372	104	19	0.309	0.309	NUM
fbem-10372	104	20	and	and	CCONJ
fbem-10372	104	21	a	a	DET
fbem-10372	104	22	maximum	maximum	NOUN
fbem-10372	104	23	of	of	ADP
fbem-10372	104	24	0.482	0.482	NUM
fbem-10372	104	25	.	.	PUNCT
fbem-10372	105	1	the	the	DET
fbem-10372	105	2	standard	standard	ADJ
fbem-10372	105	3	deviation	deviation	NOUN
fbem-10372	105	4	is	be	AUX
fbem-10372	105	5	0.059	0.059	NUM
fbem-10372	105	6	,	,	PUNCT
fbem-10372	105	7	suggesting	suggest	VERB
fbem-10372	105	8	a	a	DET
fbem-10372	105	9	relatively	relatively	ADV
fbem-10372	105	10	balanced	balanced	ADJ
fbem-10372	105	11	expenditure	expenditure	NOUN
fbem-10372	105	12	on	on	ADP
fbem-10372	105	13	marketing	marketing	NOUN
fbem-10372	105	14	expenses	expense	NOUN
fbem-10372	105	15	by	by	ADP
fbem-10372	105	16	the	the	DET
fbem-10372	105	17	company	company	NOUN
fbem-10372	105	18	over	over	ADP
fbem-10372	105	19	the	the	DET
fbem-10372	105	20	past	past	ADJ
fbem-10372	105	21	decade	decade	NOUN
fbem-10372	105	22	,	,	PUNCT
fbem-10372	105	23	with	with	ADP
fbem-10372	105	24	little	little	ADJ
fbem-10372	105	25	variation	variation	NOUN
fbem-10372	105	26	across	across	ADP
fbem-10372	105	27	years	year	NOUN
fbem-10372	105	28	.	.	PUNCT
fbem-10372	106	1	finally	finally	ADV
fbem-10372	106	2	,	,	PUNCT
fbem-10372	106	3	regarding	regard	VERB
fbem-10372	106	4	the	the	DET
fbem-10372	106	5	control	control	NOUN
fbem-10372	106	6	variables	variable	NOUN
fbem-10372	106	7	,	,	PUNCT
fbem-10372	106	8	apart	apart	ADV
fbem-10372	106	9	from	from	ADP
fbem-10372	106	10	capital	capital	NOUN
fbem-10372	106	11	structure	structure	NOUN
fbem-10372	106	12	,	,	PUNCT
fbem-10372	106	13	equity	equity	NOUN
fbem-10372	106	14	concentration	concentration	NOUN
fbem-10372	106	15	,	,	PUNCT
fbem-10372	106	16	and	and	CCONJ
fbem-10372	106	17	total	total	ADJ
fbem-10372	106	18	asset	asset	NOUN
fbem-10372	106	19	turnover	turnover	NOUN
fbem-10372	106	20	ratio	ratio	NOUN
fbem-10372	106	21	,	,	PUNCT
fbem-10372	106	22	both	both	PRON
fbem-10372	106	23	firm	firm	ADJ
fbem-10372	106	24	size	size	NOUN
fbem-10372	106	25	and	and	CCONJ
fbem-10372	106	26	inventory	inventory	NOUN
fbem-10372	106	27	scale	scale	NOUN
fbem-10372	106	28	have	have	AUX
fbem-10372	106	29	undergone	undergo	VERB
fbem-10372	106	30	significant	significant	ADJ
fbem-10372	106	31	adjustments	adjustment	NOUN
fbem-10372	106	32	over	over	ADP
fbem-10372	106	33	the	the	DET
fbem-10372	106	34	past	past	ADJ
fbem-10372	106	35	ten	ten	NUM
fbem-10372	106	36	years	year	NOUN
fbem-10372	106	37	.	.	PUNCT
fbem-10372	107	1	5.2	5.2	NUM
fbem-10372	107	2	.	.	PUNCT
fbem-10372	108	1	correlation	correlation	NOUN
fbem-10372	108	2	analysis	analysis	NOUN
fbem-10372	108	3	the	the	DET
fbem-10372	108	4	correlation	correlation	NOUN
fbem-10372	108	5	analysis	analysis	NOUN
fbem-10372	108	6	table	table	NOUN
fbem-10372	108	7	below	below	ADP
fbem-10372	108	8	reveals	reveal	VERB
fbem-10372	108	9	that	that	SCONJ
fbem-10372	108	10	the	the	DET
fbem-10372	108	11	correlation	correlation	NOUN
fbem-10372	108	12	coefficients	coefficient	VERB
fbem-10372	108	13	between	between	ADP
fbem-10372	108	14	the	the	DET
fbem-10372	108	15	marketing	marketing	NOUN
fbem-10372	108	16	expense	expense	NOUN
fbem-10372	108	17	ratio	ratio	NOUN
fbem-10372	108	18	and	and	CCONJ
fbem-10372	108	19	earn	earn	NOUN
fbem-10372	108	20	,	,	PUNCT
fbem-10372	108	21	grow	grow	VERB
fbem-10372	108	22	are	be	AUX
fbem-10372	108	23	0.146	0.146	NUM
fbem-10372	108	24	and	and	CCONJ
fbem-10372	108	25	0.465	0.465	NUM
fbem-10372	108	26	,	,	PUNCT
fbem-10372	108	27	respectively	respectively	ADV
fbem-10372	108	28	,	,	PUNCT
fbem-10372	108	29	significant	significant	ADJ
fbem-10372	108	30	at	at	ADP
fbem-10372	108	31	the	the	DET
fbem-10372	108	32	10	10	NUM
fbem-10372	108	33	%	%	NOUN
fbem-10372	108	34	level	level	NOUN
fbem-10372	108	35	.	.	PUNCT
fbem-10372	109	1	on	on	ADP
fbem-10372	109	2	the	the	DET
fbem-10372	109	3	other	other	ADJ
fbem-10372	109	4	hand	hand	NOUN
fbem-10372	109	5	,	,	PUNCT
fbem-10372	109	6	the	the	DET
fbem-10372	109	7	correlation	correlation	NOUN
fbem-10372	109	8	coefficients	coefficient	VERB
fbem-10372	109	9	between	between	ADP
fbem-10372	109	10	the	the	DET
fbem-10372	109	11	marketing	marketing	NOUN
fbem-10372	109	12	expense	expense	NOUN
fbem-10372	109	13	ratio	ratio	NOUN
fbem-10372	109	14	and	and	CCONJ
fbem-10372	109	15	pay	pay	NOUN
fbem-10372	109	16	,	,	PUNCT
fbem-10372	109	17	run	run	NOUN
fbem-10372	109	18	are	be	AUX
fbem-10372	109	19	-0.578	-0.578	PUNCT
fbem-10372	109	20	and	and	CCONJ
fbem-10372	109	21	-0.102	-0.102	PUNCT
fbem-10372	109	22	,	,	PUNCT
fbem-10372	109	23	respectively	respectively	ADV
fbem-10372	109	24	,	,	PUNCT
fbem-10372	109	25	indicating	indicate	VERB
fbem-10372	109	26	a	a	DET
fbem-10372	109	27	positive	positive	ADJ
fbem-10372	109	28	correlation	correlation	NOUN
fbem-10372	109	29	between	between	ADP
fbem-10372	109	30	the	the	DET
fbem-10372	109	31	marketing	marketing	NOUN
fbem-10372	109	32	expense	expense	NOUN
fbem-10372	109	33	ratio	ratio	NOUN
fbem-10372	109	34	and	and	CCONJ
fbem-10372	109	35	profitability	profitability	NOUN
fbem-10372	109	36	and	and	CCONJ
fbem-10372	109	37	development	development	NOUN
fbem-10372	109	38	capability	capability	NOUN
fbem-10372	109	39	,	,	PUNCT
fbem-10372	109	40	and	and	CCONJ
fbem-10372	109	41	a	a	DET
fbem-10372	109	42	negative	negative	ADJ
fbem-10372	109	43	correlation	correlation	NOUN
fbem-10372	109	44	between	between	ADP
fbem-10372	109	45	the	the	DET
fbem-10372	109	46	marketing	marketing	NOUN
fbem-10372	109	47	expense	expense	NOUN
fbem-10372	109	48	ratio	ratio	NOUN
fbem-10372	109	49	and	and	CCONJ
fbem-10372	109	50	debt	debt	NOUN
fbem-10372	109	51	repayment	repayment	NOUN
fbem-10372	109	52	capability	capability	NOUN
fbem-10372	109	53	and	and	CCONJ
fbem-10372	109	54	operational	operational	ADJ
fbem-10372	109	55	capability	capability	NOUN
fbem-10372	109	56	.	.	PUNCT
fbem-10372	110	1	these	these	DET
fbem-10372	110	2	findings	finding	NOUN
fbem-10372	110	3	provide	provide	VERB
fbem-10372	110	4	preliminary	preliminary	ADJ
fbem-10372	110	5	support	support	NOUN
fbem-10372	110	6	for	for	ADP
fbem-10372	110	7	the	the	DET
fbem-10372	110	8	four	four	NUM
fbem-10372	110	9	hypotheses	hypothesis	NOUN
fbem-10372	110	10	proposed	propose	VERB
fbem-10372	110	11	in	in	ADP
fbem-10372	110	12	the	the	DET
fbem-10372	110	13	article	article	NOUN
fbem-10372	110	14	.	.	PUNCT
fbem-10372	111	1	furthermore	furthermore	ADV
fbem-10372	111	2	,	,	PUNCT
fbem-10372	111	3	examining	examine	VERB
fbem-10372	111	4	the	the	DET
fbem-10372	111	5	control	control	NOUN
fbem-10372	111	6	variables	variable	NOUN
fbem-10372	111	7	,	,	PUNCT
fbem-10372	111	8	significant	significant	ADJ
fbem-10372	111	9	correlations	correlation	NOUN
fbem-10372	111	10	are	be	AUX
fbem-10372	111	11	observed	observe	VERB
fbem-10372	111	12	between	between	ADP
fbem-10372	111	13	capital	capital	NOUN
fbem-10372	111	14	structure	structure	NOUN
fbem-10372	111	15	and	and	CCONJ
fbem-10372	111	16	equity	equity	NOUN
fbem-10372	111	17	concentration	concentration	NOUN
fbem-10372	111	18	,	,	PUNCT
fbem-10372	111	19	inventory	inventory	NOUN
fbem-10372	111	20	scale	scale	NOUN
fbem-10372	111	21	and	and	CCONJ
fbem-10372	111	22	firm	firm	ADJ
fbem-10372	111	23	size	size	NOUN
fbem-10372	111	24	,	,	PUNCT
fbem-10372	111	25	while	while	SCONJ
fbem-10372	111	26	no	no	DET
fbem-10372	111	27	significant	significant	ADJ
fbem-10372	111	28	correlation	correlation	NOUN
fbem-10372	111	29	is	be	AUX
fbem-10372	111	30	found	find	VERB
fbem-10372	111	31	among	among	ADP
fbem-10372	111	32	the	the	DET
fbem-10372	111	33	other	other	ADJ
fbem-10372	111	34	control	control	NOUN
fbem-10372	111	35	variables	variable	NOUN
fbem-10372	111	36	.	.	PUNCT
fbem-10372	112	1	this	this	PRON
fbem-10372	112	2	suggests	suggest	VERB
fbem-10372	112	3	that	that	SCONJ
fbem-10372	112	4	the	the	DET
fbem-10372	112	5	selection	selection	NOUN
fbem-10372	112	6	of	of	ADP
fbem-10372	112	7	control	control	NOUN
fbem-10372	112	8	variables	variable	NOUN
fbem-10372	112	9	in	in	ADP
fbem-10372	112	10	the	the	DET
fbem-10372	112	11	article	article	NOUN
fbem-10372	112	12	is	be	AUX
fbem-10372	112	13	reasonable	reasonable	ADJ
fbem-10372	112	14	,	,	PUNCT
fbem-10372	112	15	and	and	CCONJ
fbem-10372	112	16	there	there	PRON
fbem-10372	112	17	is	be	VERB
fbem-10372	112	18	no	no	DET
fbem-10372	112	19	issue	issue	NOUN
fbem-10372	112	20	of	of	ADP
fbem-10372	112	21	multicollinearity	multicollinearity	NOUN
fbem-10372	112	22	.	.	PUNCT
fbem-10372	113	1	earn	earn	AUX
fbem-10372	113	2	grow	grow	VERB
fbem-10372	113	3	pay	pay	NOUN
fbem-10372	113	4	run	run	NOUN
fbem-10372	113	5	re	re	NOUN
fbem-10372	113	6	lev	lev	NOUN
fbem-10372	113	7	size	size	NOUN
fbem-10372	113	8	top1	top1	PROPN
fbem-10372	113	9	stock	stock	NOUN
fbem-10372	113	10	turn	turn	NOUN
fbem-10372	113	11	earn	earn	VERB
fbem-10372	113	12	1	1	NUM
fbem-10372	113	13	grow	grow	VERB
fbem-10372	113	14	0.293	0.293	NUM
fbem-10372	113	15	1	1	NUM
fbem-10372	113	16	pay	pay	VERB
fbem-10372	113	17	0.622	0.622	NUM
fbem-10372	113	18	*	*	NOUN
fbem-10372	113	19	0.411	0.411	NUM
fbem-10372	113	20	1	1	NUM
fbem-10372	113	21	run	run	NOUN
fbem-10372	113	22	-0.173	-0.173	PROPN
fbem-10372	113	23	0.181	0.181	NUM
fbem-10372	113	24	-0.398	-0.398	SYM
fbem-10372	113	25	1	1	NUM
fbem-10372	113	26	re	re	NOUN
fbem-10372	113	27	0.146	0.146	NUM
fbem-10372	113	28	*	*	SYM
fbem-10372	113	29	0.465	0.465	NUM
fbem-10372	113	30	*	*	PUNCT
fbem-10372	113	31	-0.578	-0.578	NOUN
fbem-10372	113	32	*	*	PUNCT
fbem-10372	113	33	-0.102	-0.102	PUNCT
fbem-10372	113	34	1	1	NUM
fbem-10372	113	35	lev	lev	NOUN
fbem-10372	113	36	0.015	0.015	NUM
fbem-10372	113	37	-0.043	-0.043	NOUN
fbem-10372	113	38	-0.166	-0.166	PUNCT
fbem-10372	113	39	0.588	0.588	NUM
fbem-10372	113	40	*	*	NUM
fbem-10372	113	41	0.486	0.486	NUM
fbem-10372	113	42	1	1	NUM
fbem-10372	113	43	size	size	NOUN
fbem-10372	113	44	-0.600	-0.600	PROPN
fbem-10372	113	45	*	*	PUNCT
fbem-10372	113	46	-0.739	-0.739	PROPN
fbem-10372	113	47	*	*	PUNCT
fbem-10372	113	48	*	*	PUNCT
fbem-10372	113	49	-0.685	-0.685	PUNCT
fbem-10372	113	50	*	*	PUNCT
fbem-10372	113	51	*	*	NOUN
fbem-10372	113	52	-0.041	-0.041	PUNCT
fbem-10372	113	53	0.528	0.528	NUM
fbem-10372	113	54	0.118	0.118	NUM
fbem-10372	113	55	1	1	NUM
fbem-10372	113	56	top1	top1	PROPN
fbem-10372	113	57	0.019	0.019	NUM
fbem-10372	113	58	-0.040	-0.040	NUM
fbem-10372	113	59	-0.161	-0.161	PUNCT
fbem-10372	113	60	0.583	0.583	NUM
fbem-10372	113	61	*	*	SYM
fbem-10372	113	62	0.485	0.485	NUM
fbem-10372	113	63	1.000	1.000	NUM
fbem-10372	113	64	*	*	PUNCT
fbem-10372	113	65	*	*	PUNCT
fbem-10372	113	66	*	*	PUNCT
fbem-10372	113	67	0.111	0.111	NUM
fbem-10372	113	68	1	1	NUM
fbem-10372	113	69	stock	stock	NOUN
fbem-10372	113	70	-0.689	-0.689	NOUN
fbem-10372	113	71	*	*	PUNCT
fbem-10372	113	72	*	*	PUNCT
fbem-10372	113	73	-0.592	-0.592	PUNCT
fbem-10372	113	74	*	*	PUNCT
fbem-10372	113	75	-0.691	-0.691	NOUN
fbem-10372	113	76	*	*	PUNCT
fbem-10372	113	77	*	*	NOUN
fbem-10372	113	78	0.121	0.121	NUM
fbem-10372	113	79	0.327	0.327	NUM
fbem-10372	113	80	0.138	0.138	NUM
fbem-10372	113	81	0.917	0.917	NUM
fbem-10372	113	82	*	*	PUNCT
fbem-10372	113	83	*	*	PUNCT
fbem-10372	113	84	*	*	NOUN
fbem-10372	113	85	0.135	0.135	NUM
fbem-10372	113	86	1	1	NUM
fbem-10372	113	87	turn	turn	VERB
fbem-10372	113	88	0.530	0.530	NUM
fbem-10372	113	89	0.449	0.449	NUM
fbem-10372	113	90	0.147	0.147	NUM
fbem-10372	113	91	0.398	0.398	NUM
fbem-10372	113	92	0.053	0.053	NUM
fbem-10372	113	93	0.538	0.538	NUM
fbem-10372	113	94	-0.355	-0.355	PUNCT
fbem-10372	113	95	0.538	0.538	NUM
fbem-10372	113	96	-0.374	-0.374	NOUN
fbem-10372	113	97	1	1	NUM
fbem-10372	113	98	*	*	NOUN
fbem-10372	113	99	,	,	PUNCT
fbem-10372	113	100	*	*	PUNCT
fbem-10372	113	101	*	*	PUNCT
fbem-10372	113	102	,	,	PUNCT
fbem-10372	113	103	and	and	CCONJ
fbem-10372	113	104	*	*	PUNCT
fbem-10372	113	105	*	*	PUNCT
fbem-10372	113	106	*	*	PUNCT
fbem-10372	113	107	represent	represent	VERB
fbem-10372	113	108	the	the	DET
fbem-10372	113	109	significance	significance	NOUN
fbem-10372	113	110	levels	level	NOUN
fbem-10372	113	111	of	of	ADP
fbem-10372	113	112	10	10	NUM
fbem-10372	113	113	%	%	NOUN
fbem-10372	113	114	,	,	PUNCT
fbem-10372	113	115	5	5	NUM
fbem-10372	113	116	%	%	NOUN
fbem-10372	113	117	,	,	PUNCT
fbem-10372	113	118	and	and	CCONJ
fbem-10372	113	119	1	1	NUM
fbem-10372	113	120	%	%	NOUN
fbem-10372	113	121	,	,	PUNCT
fbem-10372	113	122	respectively	respectively	ADV
fbem-10372	113	123	.	.	PUNCT
fbem-10372	114	1	5.3	5.3	NUM
fbem-10372	114	2	.	.	PUNCT
fbem-10372	115	1	regression	regression	VERB
fbem-10372	115	2	analysis	analysis	NOUN
fbem-10372	115	3	according	accord	VERB
fbem-10372	115	4	to	to	ADP
fbem-10372	115	5	the	the	DET
fbem-10372	115	6	table	table	NOUN
fbem-10372	115	7	below	below	ADV
fbem-10372	115	8	,	,	PUNCT
fbem-10372	115	9	in	in	ADP
fbem-10372	115	10	column	column	NOUN
fbem-10372	115	11	(	(	PUNCT
fbem-10372	115	12	1	1	NUM
fbem-10372	115	13	)	)	PUNCT
fbem-10372	115	14	,	,	PUNCT
fbem-10372	115	15	the	the	DET
fbem-10372	115	16	regression	regression	NOUN
fbem-10372	115	17	coefficient	coefficient	NOUN
fbem-10372	115	18	of	of	ADP
fbem-10372	115	19	re	re	NOUN
fbem-10372	115	20	is	be	AUX
fbem-10372	115	21	0.073	0.073	NUM
fbem-10372	115	22	,	,	PUNCT
fbem-10372	115	23	significant	significant	ADJ
fbem-10372	115	24	at	at	ADP
fbem-10372	115	25	the	the	DET
fbem-10372	115	26	5	5	NUM
fbem-10372	115	27	%	%	NOUN
fbem-10372	115	28	level	level	NOUN
fbem-10372	115	29	.	.	PUNCT
fbem-10372	116	1	this	this	PRON
fbem-10372	116	2	indicates	indicate	VERB
fbem-10372	116	3	that	that	SCONJ
fbem-10372	116	4	a	a	DET
fbem-10372	116	5	higher	high	ADJ
fbem-10372	116	6	marketing	marketing	NOUN
fbem-10372	116	7	expense	expense	NOUN
fbem-10372	116	8	ratio	ratio	NOUN
fbem-10372	116	9	is	be	AUX
fbem-10372	116	10	associated	associate	VERB
fbem-10372	116	11	with	with	ADP
fbem-10372	116	12	better	well	ADJ
fbem-10372	116	13	profitability	profitability	NOUN
fbem-10372	116	14	,	,	PUNCT
fbem-10372	116	15	supporting	support	VERB
fbem-10372	116	16	hypothesis	hypothesis	NOUN
fbem-10372	116	17	1	1	NUM
fbem-10372	116	18	.	.	PUNCT
fbem-10372	117	1	in	in	ADP
fbem-10372	117	2	column	column	NOUN
fbem-10372	117	3	(	(	PUNCT
fbem-10372	117	4	2	2	NUM
fbem-10372	117	5	)	)	PUNCT
fbem-10372	117	6	,	,	PUNCT
fbem-10372	117	7	the	the	DET
fbem-10372	117	8	regression	regression	NOUN
fbem-10372	117	9	coefficient	coefficient	NOUN
fbem-10372	117	10	of	of	ADP
fbem-10372	117	11	re	re	NOUN
fbem-10372	117	12	is	be	AUX
fbem-10372	117	13	0.163	0.163	NUM
fbem-10372	117	14	,	,	PUNCT
fbem-10372	117	15	significant	significant	ADJ
fbem-10372	117	16	at	at	ADP
fbem-10372	117	17	the	the	DET
fbem-10372	117	18	1	1	NUM
fbem-10372	117	19	%	%	NOUN
fbem-10372	117	20	level	level	NOUN
fbem-10372	117	21	,	,	PUNCT
fbem-10372	117	22	suggesting	suggest	VERB
fbem-10372	117	23	that	that	SCONJ
fbem-10372	117	24	a	a	DET
fbem-10372	117	25	higher	high	ADJ
fbem-10372	117	26	marketing	marketing	NOUN
fbem-10372	117	27	expense	expense	NOUN
fbem-10372	117	28	ratio	ratio	NOUN
fbem-10372	117	29	is	be	AUX
fbem-10372	117	30	associated	associate	VERB
fbem-10372	117	31	with	with	ADP
fbem-10372	117	32	better	well	ADJ
fbem-10372	117	33	development	development	NOUN
fbem-10372	117	34	capability	capability	NOUN
fbem-10372	117	35	,	,	PUNCT
fbem-10372	117	36	confirming	confirm	VERB
fbem-10372	117	37	hypothesis	hypothesis	NOUN
fbem-10372	117	38	2	2	NUM
fbem-10372	117	39	.	.	PUNCT
fbem-10372	118	1	in	in	ADP
fbem-10372	118	2	column	column	NOUN
fbem-10372	118	3	(	(	PUNCT
fbem-10372	118	4	3	3	NUM
fbem-10372	118	5	)	)	PUNCT
fbem-10372	118	6	,	,	PUNCT
fbem-10372	118	7	the	the	DET
fbem-10372	118	8	regression	regression	NOUN
fbem-10372	118	9	coefficient	coefficient	NOUN
fbem-10372	118	10	of	of	ADP
fbem-10372	118	11	re	re	PROPN
fbem-10372	118	12	is	be	AUX
fbem-10372	118	13	-0.071	-0.071	ADJ
fbem-10372	118	14	,	,	PUNCT
fbem-10372	118	15	significant	significant	ADJ
fbem-10372	118	16	at	at	ADP
fbem-10372	118	17	the	the	DET
fbem-10372	118	18	1	1	NUM
fbem-10372	118	19	%	%	NOUN
fbem-10372	118	20	level	level	NOUN
fbem-10372	118	21	,	,	PUNCT
fbem-10372	118	22	indicating	indicate	VERB
fbem-10372	118	23	that	that	SCONJ
fbem-10372	118	24	a	a	DET
fbem-10372	118	25	higher	high	ADJ
fbem-10372	118	26	marketing	marketing	NOUN
fbem-10372	118	27	expense	expense	NOUN
fbem-10372	118	28	ratio	ratio	NOUN
fbem-10372	118	29	is	be	AUX
fbem-10372	118	30	associated	associate	VERB
fbem-10372	118	31	with	with	ADP
fbem-10372	118	32	weaker	weak	ADJ
fbem-10372	118	33	debt	debt	NOUN
fbem-10372	118	34	repayment	repayment	NOUN
fbem-10372	118	35	capability	capability	NOUN
fbem-10372	118	36	,	,	PUNCT
fbem-10372	118	37	supporting	support	VERB
fbem-10372	118	38	hypothesis	hypothesis	NOUN
fbem-10372	118	39	3	3	NUM
fbem-10372	118	40	.	.	PUNCT
fbem-10372	119	1	in	in	ADP
fbem-10372	119	2	column	column	NOUN
fbem-10372	119	3	(	(	PUNCT
fbem-10372	119	4	4	4	NUM
fbem-10372	119	5	)	)	PUNCT
fbem-10372	119	6	,	,	PUNCT
fbem-10372	119	7	the	the	DET
fbem-10372	119	8	regression	regression	NOUN
fbem-10372	119	9	coefficient	coefficient	NOUN
fbem-10372	119	10	of	of	ADP
fbem-10372	119	11	re	re	NOUN
fbem-10372	119	12	is	be	AUX
fbem-10372	119	13	-1.118	-1.118	NUM
fbem-10372	119	14	,	,	PUNCT
fbem-10372	119	15	significant	significant	ADJ
fbem-10372	119	16	at	at	ADP
fbem-10372	119	17	the	the	DET
fbem-10372	119	18	1	1	NUM
fbem-10372	119	19	%	%	NOUN
fbem-10372	119	20	level	level	NOUN
fbem-10372	119	21	,	,	PUNCT
fbem-10372	119	22	indicating	indicate	VERB
fbem-10372	119	23	that	that	SCONJ
fbem-10372	119	24	a	a	DET
fbem-10372	119	25	higher	high	ADJ
fbem-10372	119	26	marketing	marketing	NOUN
fbem-10372	119	27	expense	expense	NOUN
fbem-10372	119	28	ratio	ratio	NOUN
fbem-10372	119	29	is	be	AUX
fbem-10372	119	30	associated	associate	VERB
fbem-10372	119	31	with	with	ADP
fbem-10372	119	32	better	well	ADJ
fbem-10372	119	33	profitability	profitability	NOUN
fbem-10372	119	34	,	,	PUNCT
fbem-10372	119	35	confirming	confirm	VERB
fbem-10372	119	36	hypothesis	hypothesis	NOUN
fbem-10372	119	37	4	4	NUM
fbem-10372	119	38	.	.	NOUN
fbem-10372	119	39	5.4	5.4	NUM
fbem-10372	119	40	.	.	PUNCT
fbem-10372	119	41	stability	stability	NOUN
fbem-10372	119	42	test	test	NOUN
fbem-10372	119	43	however	however	ADV
fbem-10372	119	44	,	,	PUNCT
fbem-10372	119	45	considering	consider	VERB
fbem-10372	119	46	the	the	DET
fbem-10372	119	47	potential	potential	ADJ
fbem-10372	119	48	issues	issue	NOUN
fbem-10372	119	49	related	relate	VERB
fbem-10372	119	50	to	to	ADP
fbem-10372	119	51	model	model	NOUN
fbem-10372	119	52	specification	specification	NOUN
fbem-10372	119	53	and	and	CCONJ
fbem-10372	119	54	measurement	measurement	NOUN
fbem-10372	119	55	errors	error	NOUN
fbem-10372	119	56	of	of	ADP
fbem-10372	119	57	variables	variable	NOUN
fbem-10372	119	58	in	in	ADP
fbem-10372	119	59	the	the	DET
fbem-10372	119	60	baseline	baseline	NOUN
fbem-10372	119	61	regression	regression	NOUN
fbem-10372	119	62	,	,	PUNCT
fbem-10372	119	63	the	the	DET
fbem-10372	119	64	article	article	NOUN
fbem-10372	119	65	conducted	conduct	VERB
fbem-10372	119	66	the	the	DET
fbem-10372	119	67	following	follow	VERB
fbem-10372	119	68	robustness	robustness	NOUN
fbem-10372	119	69	tests	test	NOUN
fbem-10372	119	70	.	.	PUNCT
fbem-10372	120	1	1	1	X
fbem-10372	120	2	)	)	PUNCT
fbem-10372	120	3	alternative	alternative	ADJ
fbem-10372	120	4	estimation	estimation	NOUN
fbem-10372	120	5	model	model	NOUN
fbem-10372	120	6	in	in	ADP
fbem-10372	120	7	the	the	DET
fbem-10372	120	8	previous	previous	ADJ
fbem-10372	120	9	analysis	analysis	NOUN
fbem-10372	120	10	,	,	PUNCT
fbem-10372	120	11	a	a	DET
fbem-10372	120	12	fixed	fix	VERB
fbem-10372	120	13	effects	effect	NOUN
fbem-10372	120	14	model	model	NOUN
fbem-10372	120	15	based	base	VERB
fbem-10372	120	16	on	on	ADP
fbem-10372	120	17	ols	ol	NOUN
fbem-10372	120	18	regression	regression	NOUN
fbem-10372	120	19	was	be	AUX
fbem-10372	120	20	used	use	VERB
fbem-10372	120	21	.	.	PUNCT
fbem-10372	121	1	in	in	ADP
fbem-10372	121	2	this	this	DET
fbem-10372	121	3	section	section	NOUN
fbem-10372	121	4	,	,	PUNCT
fbem-10372	121	5	the	the	DET
fbem-10372	121	6	fixed	fix	VERB
fbem-10372	121	7	effects	effect	NOUN
fbem-10372	121	8	model	model	NOUN
fbem-10372	121	9	will	will	AUX
fbem-10372	121	10	be	be	AUX
fbem-10372	121	11	replaced	replace	VERB
fbem-10372	121	12	with	with	ADP
fbem-10372	121	13	a	a	DET
fbem-10372	121	14	logit	logit	NOUN
fbem-10372	121	15	model	model	NOUN
fbem-10372	121	16	.	.	PUNCT
fbem-10372	122	1	the	the	DET
fbem-10372	122	2	specific	specific	ADJ
fbem-10372	122	3	approach	approach	NOUN
fbem-10372	122	4	is	be	AUX
fbem-10372	122	5	as	as	SCONJ
fbem-10372	122	6	follows	follow	VERB
fbem-10372	122	7	:	:	PUNCT
fbem-10372	122	8	first	first	ADV
fbem-10372	122	9	,	,	PUNCT
fbem-10372	122	10	the	the	DET
fbem-10372	122	11	dependent	dependent	ADJ
fbem-10372	122	12	variables	variable	NOUN
fbem-10372	122	13	earn	earn	VERB
fbem-10372	122	14	,	,	PUNCT
fbem-10372	122	15	grow	grow	VERB
fbem-10372	122	16	,	,	PUNCT
fbem-10372	122	17	pay	pay	VERB
fbem-10372	122	18	,	,	PUNCT
fbem-10372	122	19	and	and	CCONJ
fbem-10372	122	20	run	run	VERB
fbem-10372	122	21	will	will	AUX
fbem-10372	122	22	be	be	AUX
fbem-10372	122	23	transformed	transform	VERB
fbem-10372	122	24	into	into	ADP
fbem-10372	122	25	binary	binary	ADJ
fbem-10372	122	26	dummy	dummy	ADJ
fbem-10372	122	27	variables	variable	NOUN
fbem-10372	122	28	(	(	PUNCT
fbem-10372	122	29	d_earn	d_earn	PROPN
fbem-10372	122	30	,	,	PUNCT
fbem-10372	122	31	d_grow	d_grow	NOUN
fbem-10372	122	32	,	,	PUNCT
fbem-10372	122	33	d_pay	d_pay	NOUN
fbem-10372	122	34	,	,	PUNCT
fbem-10372	122	35	d_run	d_run	NOUN
fbem-10372	122	36	)	)	PUNCT
fbem-10372	122	37	based	base	VERB
fbem-10372	122	38	on	on	ADP
fbem-10372	122	39	their	their	PRON
fbem-10372	122	40	mean	mean	ADJ
fbem-10372	122	41	values	value	NOUN
fbem-10372	122	42	.	.	PUNCT
fbem-10372	123	1	a	a	DET
fbem-10372	123	2	value	value	NOUN
fbem-10372	123	3	of	of	ADP
fbem-10372	123	4	1	1	NUM
fbem-10372	123	5	will	will	AUX
fbem-10372	123	6	be	be	AUX
fbem-10372	123	7	assigned	assign	VERB
fbem-10372	123	8	if	if	SCONJ
fbem-10372	123	9	the	the	DET
fbem-10372	123	10	variable	variable	NOUN
fbem-10372	123	11	is	be	AUX
fbem-10372	123	12	greater	great	ADJ
fbem-10372	123	13	than	than	ADP
fbem-10372	123	14	the	the	DET
fbem-10372	123	15	mean	mean	NOUN
fbem-10372	123	16	,	,	PUNCT
fbem-10372	123	17	and	and	CCONJ
fbem-10372	123	18	0	0	NUM
fbem-10372	123	19	otherwise	otherwise	ADV
fbem-10372	123	20	.	.	PUNCT
fbem-10372	124	1	213	213	NUM
fbem-10372	124	2	reference	reference	NOUN
fbem-10372	124	3	regression	regression	VERB
fbem-10372	124	4	variable	variable	ADJ
fbem-10372	124	5	profitability	profitability	NOUN
fbem-10372	124	6	development	development	NOUN
fbem-10372	124	7	capability	capability	NOUN
fbem-10372	124	8	debt	debt	NOUN
fbem-10372	124	9	repayment	repayment	NOUN
fbem-10372	124	10	capability	capability	NOUN
fbem-10372	124	11	operational	operational	ADJ
fbem-10372	124	12	capability	capability	NOUN
fbem-10372	124	13	(	(	PUNCT
fbem-10372	124	14	1	1	NUM
fbem-10372	124	15	)	)	PUNCT
fbem-10372	124	16	(	(	PUNCT
fbem-10372	124	17	2	2	NUM
fbem-10372	124	18	)	)	PUNCT
fbem-10372	124	19	(	(	PUNCT
fbem-10372	124	20	3	3	X
fbem-10372	124	21	)	)	PUNCT
fbem-10372	124	22	(	(	PUNCT
fbem-10372	124	23	4	4	X
fbem-10372	124	24	)	)	PUNCT
fbem-10372	124	25	re	re	VERB
fbem-10372	124	26	0.073	0.073	X
fbem-10372	124	27	*	*	PUNCT
fbem-10372	124	28	*	*	PUNCT
fbem-10372	124	29	0.163	0.163	NUM
fbem-10372	124	30	*	*	PUNCT
fbem-10372	124	31	*	*	PUNCT
fbem-10372	124	32	*	*	PUNCT
fbem-10372	124	33	-0.071	-0.071	VERB
fbem-10372	124	34	*	*	PUNCT
fbem-10372	124	35	*	*	PUNCT
fbem-10372	124	36	*	*	PUNCT
fbem-10372	124	37	-1.118	-1.118	PUNCT
fbem-10372	125	1	*	*	PUNCT
fbem-10372	125	2	*	*	PUNCT
fbem-10372	125	3	*	*	PUNCT
fbem-10372	125	4	(	(	PUNCT
fbem-10372	125	5	0.035	0.035	NUM
fbem-10372	125	6	)	)	PUNCT
fbem-10372	125	7	(	(	PUNCT
fbem-10372	125	8	0.171	0.171	NUM
fbem-10372	125	9	)	)	PUNCT
fbem-10372	125	10	(	(	PUNCT
fbem-10372	125	11	0.099	0.099	NUM
fbem-10372	125	12	)	)	PUNCT
fbem-10372	125	13	(	(	PUNCT
fbem-10372	125	14	0.080	0.080	X
fbem-10372	125	15	)	)	PUNCT
fbem-10372	125	16	lev	lev	NOUN
fbem-10372	125	17	-5.001	-5.001	NUM
fbem-10372	125	18	4.151	4.151	NUM
fbem-10372	125	19	1.667	1.667	NUM
fbem-10372	125	20	*	*	PUNCT
fbem-10372	125	21	*	*	PUNCT
fbem-10372	125	22	*	*	PUNCT
fbem-10372	126	1	5.499	5.499	NUM
fbem-10372	126	2	*	*	PUNCT
fbem-10372	126	3	*	*	PUNCT
fbem-10372	126	4	*	*	PUNCT
fbem-10372	126	5	(	(	PUNCT
fbem-10372	126	6	0.008	0.008	NUM
fbem-10372	126	7	)	)	PUNCT
fbem-10372	126	8	(	(	PUNCT
fbem-10372	126	9	0.107	0.107	NUM
fbem-10372	126	10	)	)	PUNCT
fbem-10372	126	11	(	(	PUNCT
fbem-10372	126	12	0.036	0.036	NUM
fbem-10372	126	13	)	)	PUNCT
fbem-10372	126	14	(	(	PUNCT
fbem-10372	126	15	0.051	0.051	NUM
fbem-10372	126	16	)	)	PUNCT
fbem-10372	126	17	stock	stock	NOUN
fbem-10372	126	18	-0.037	-0.037	NOUN
fbem-10372	126	19	*	*	PUNCT
fbem-10372	126	20	*	*	PUNCT
fbem-10372	126	21	*	*	PUNCT
fbem-10372	126	22	0.034	0.034	NUM
fbem-10372	126	23	*	*	PUNCT
fbem-10372	126	24	*	*	PUNCT
fbem-10372	126	25	*	*	PUNCT
fbem-10372	126	26	0.011	0.011	NUM
fbem-10372	126	27	*	*	PUNCT
fbem-10372	126	28	*	*	PUNCT
fbem-10372	126	29	*	*	NOUN
fbem-10372	126	30	0.004	0.004	NUM
fbem-10372	126	31	(	(	PUNCT
fbem-10372	126	32	0.001	0.001	NUM
fbem-10372	126	33	)	)	PUNCT
fbem-10372	126	34	(	(	PUNCT
fbem-10372	126	35	0.006	0.006	NUM
fbem-10372	126	36	)	)	PUNCT
fbem-10372	126	37	(	(	PUNCT
fbem-10372	126	38	0.002	0.002	NUM
fbem-10372	126	39	)	)	PUNCT
fbem-10372	126	40	(	(	PUNCT
fbem-10372	126	41	0.004	0.004	NUM
fbem-10372	126	42	)	)	PUNCT
fbem-10372	126	43	turn	turn	VERB
fbem-10372	126	44	1.022	1.022	NUM
fbem-10372	126	45	*	*	PUNCT
fbem-10372	126	46	*	*	PUNCT
fbem-10372	126	47	*	*	PUNCT
fbem-10372	126	48	1.515	1.515	NUM
fbem-10372	126	49	*	*	PUNCT
fbem-10372	126	50	*	*	PUNCT
fbem-10372	126	51	*	*	PUNCT
fbem-10372	126	52	2.360	2.360	NUM
fbem-10372	126	53	*	*	PUNCT
fbem-10372	126	54	*	*	PUNCT
fbem-10372	126	55	*	*	PUNCT
fbem-10372	126	56	3.509	3.509	NUM
fbem-10372	126	57	*	*	PUNCT
fbem-10372	126	58	*	*	PUNCT
fbem-10372	126	59	*	*	PUNCT
fbem-10372	126	60	(	(	PUNCT
fbem-10372	126	61	0.003	0.003	NUM
fbem-10372	126	62	)	)	PUNCT
fbem-10372	126	63	(	(	PUNCT
fbem-10372	126	64	0.031	0.031	NUM
fbem-10372	126	65	)	)	PUNCT
fbem-10372	126	66	(	(	PUNCT
fbem-10372	126	67	0.012	0.012	NUM
fbem-10372	126	68	)	)	PUNCT
fbem-10372	126	69	(	(	PUNCT
fbem-10372	126	70	0.017	0.017	NUM
fbem-10372	126	71	)	)	PUNCT
fbem-10372	126	72	size	size	NOUN
fbem-10372	126	73	0.175	0.175	NUM
fbem-10372	126	74	*	*	PUNCT
fbem-10372	126	75	*	*	PUNCT
fbem-10372	126	76	*	*	PUNCT
fbem-10372	126	77	-14.092	-14.092	PUNCT
fbem-10372	126	78	0.249	0.249	NUM
fbem-10372	126	79	*	*	PUNCT
fbem-10372	126	80	*	*	PUNCT
fbem-10372	126	81	*	*	PUNCT
fbem-10372	126	82	0.961	0.961	NUM
fbem-10372	126	83	*	*	PUNCT
fbem-10372	126	84	*	*	PUNCT
fbem-10372	126	85	*	*	PUNCT
fbem-10372	126	86	(	(	PUNCT
fbem-10372	126	87	0.020	0.020	NUM
fbem-10372	126	88	)	)	PUNCT
fbem-10372	126	89	(	(	PUNCT
fbem-10372	126	90	0.146	0.146	NUM
fbem-10372	126	91	)	)	PUNCT
fbem-10372	126	92	(	(	PUNCT
fbem-10372	126	93	0.039	0.039	NUM
fbem-10372	126	94	)	)	PUNCT
fbem-10372	126	95	(	(	PUNCT
fbem-10372	126	96	0.061	0.061	NUM
fbem-10372	126	97	)	)	PUNCT
fbem-10372	126	98	top1	top1	PROPN
fbem-10372	126	99	-0.239	-0.239	PUNCT
fbem-10372	127	1	*	*	PUNCT
fbem-10372	127	2	*	*	PUNCT
fbem-10372	128	1	*	*	PUNCT
fbem-10372	129	1	0.339	0.339	NUM
fbem-10372	129	2	*	*	PUNCT
fbem-10372	129	3	*	*	PUNCT
fbem-10372	129	4	*	*	PUNCT
fbem-10372	130	1	0.227	0.227	NUM
fbem-10372	130	2	*	*	PUNCT
fbem-10372	130	3	*	*	PUNCT
fbem-10372	130	4	*	*	PUNCT
fbem-10372	130	5	-0.028	-0.028	INTJ
fbem-10372	130	6	(	(	PUNCT
fbem-10372	130	7	0.018	0.018	NUM
fbem-10372	130	8	)	)	PUNCT
fbem-10372	130	9	(	(	PUNCT
fbem-10372	130	10	0.094	0.094	NUM
fbem-10372	130	11	)	)	PUNCT
fbem-10372	130	12	(	(	PUNCT
fbem-10372	130	13	0.047	0.047	NUM
fbem-10372	130	14	)	)	PUNCT
fbem-10372	130	15	(	(	PUNCT
fbem-10372	130	16	0.046	0.046	NUM
fbem-10372	130	17	)	)	PUNCT
fbem-10372	130	18	year	year	NOUN
fbem-10372	130	19	control	control	NOUN
fbem-10372	130	20	control	control	PROPN
fbem-10372	130	21	control	control	PROPN
fbem-10372	130	22	control	control	PROPN
fbem-10372	130	23	r2	r2	PROPN
fbem-10372	130	24	0.635	0.635	NUM
fbem-10372	130	25	0.573	0.573	NUM
fbem-10372	130	26	0.752	0.752	NUM
fbem-10372	130	27	0.874	0.874	NUM
fbem-10372	130	28	within	within	ADP
fbem-10372	130	29	parentheses	parenthesis	NOUN
fbem-10372	130	30	are	be	AUX
fbem-10372	130	31	robust	robust	ADJ
fbem-10372	130	32	standard	standard	ADJ
fbem-10372	130	33	errors	error	NOUN
fbem-10372	130	34	.	.	PUNCT
fbem-10372	131	1	*	*	PUNCT
fbem-10372	131	2	,	,	PUNCT
fbem-10372	131	3	*	*	PUNCT
fbem-10372	131	4	*	*	PUNCT
fbem-10372	131	5	,	,	PUNCT
fbem-10372	131	6	and	and	CCONJ
fbem-10372	131	7	*	*	PUNCT
fbem-10372	131	8	*	*	PUNCT
fbem-10372	131	9	*	*	PUNCT
fbem-10372	131	10	represent	represent	VERB
fbem-10372	131	11	the	the	DET
fbem-10372	131	12	significance	significance	NOUN
fbem-10372	131	13	levels	level	NOUN
fbem-10372	131	14	of	of	ADP
fbem-10372	131	15	10	10	NUM
fbem-10372	131	16	%	%	NOUN
fbem-10372	131	17	,	,	PUNCT
fbem-10372	131	18	5	5	NUM
fbem-10372	131	19	%	%	NOUN
fbem-10372	131	20	,	,	PUNCT
fbem-10372	131	21	and	and	CCONJ
fbem-10372	131	22	1	1	NUM
fbem-10372	131	23	%	%	NOUN
fbem-10372	131	24	,	,	PUNCT
fbem-10372	131	25	respectively	respectively	ADV
fbem-10372	131	26	.	.	PUNCT
fbem-10372	132	1	the	the	DET
fbem-10372	132	2	logit	logit	PROPN
fbem-10372	132	3	model	model	NOUN
fbem-10372	132	4	used	use	VERB
fbem-10372	132	5	in	in	ADP
fbem-10372	132	6	this	this	DET
fbem-10372	132	7	study	study	NOUN
fbem-10372	132	8	is	be	AUX
fbem-10372	132	9	as	as	SCONJ
fbem-10372	132	10	follows	follow	VERB
fbem-10372	132	11	:	:	PUNCT
fbem-10372	132	12	𝑃	𝑃	VERB
fbem-10372	132	13	𝐷_𝑌	𝐷_𝑌	NOUN
fbem-10372	132	14	1	1	NUM
fbem-10372	132	15	𝑅𝐸	𝑅𝐸	PROPN
fbem-10372	132	16	，	，	PROPN
fbem-10372	132	17	𝑋	𝑋	PROPN
fbem-10372	132	18	∑	∑	PUNCT
fbem-10372	132	19	∑	∑	PROPN
fbem-10372	132	20	，	，	PUNCT
fbem-10372	132	21	∑	∑	PUNCT
fbem-10372	132	22	(	(	PUNCT
fbem-10372	132	23	2	2	X
fbem-10372	132	24	)	)	PUNCT
fbem-10372	132	25	where	where	SCONJ
fbem-10372	132	26	subscript	subscript	NOUN
fbem-10372	132	27	𝑡	𝑡	PROPN
fbem-10372	132	28	represents	represent	VERB
fbem-10372	132	29	the	the	DET
fbem-10372	132	30	year	year	NOUN
fbem-10372	132	31	.	.	PUNCT
fbem-10372	133	1	𝐷_𝑌𝑡	𝐷_𝑌𝑡	PUNCT
fbem-10372	133	2	represents	represent	VERB
fbem-10372	133	3	the	the	DET
fbem-10372	133	4	dummy	dummy	ADJ
fbem-10372	133	5	variable	variable	NOUN
fbem-10372	133	6	indicating	indicate	VERB
fbem-10372	133	7	whether	whether	SCONJ
fbem-10372	133	8	the	the	DET
fbem-10372	133	9	performance	performance	NOUN
fbem-10372	133	10	(	(	PUNCT
fbem-10372	133	11	earn	earn	VERB
fbem-10372	133	12	,	,	PUNCT
fbem-10372	133	13	grow	grow	VERB
fbem-10372	133	14	,	,	PUNCT
fbem-10372	133	15	pay	pay	NOUN
fbem-10372	133	16	,	,	PUNCT
fbem-10372	133	17	run	run	NOUN
fbem-10372	133	18	)	)	PUNCT
fbem-10372	133	19	of	of	ADP
fbem-10372	133	20	the	the	DET
fbem-10372	133	21	firm	firm	NOUN
fbem-10372	133	22	in	in	ADP
fbem-10372	133	23	year	year	NOUN
fbem-10372	133	24	𝑡	𝑡	PROPN
fbem-10372	133	25	is	be	AUX
fbem-10372	133	26	greater	great	ADJ
fbem-10372	133	27	than	than	ADP
fbem-10372	133	28	the	the	DET
fbem-10372	133	29	mean	mean	NOUN
fbem-10372	133	30	.	.	PUNCT
fbem-10372	134	1	𝑋𝑡	𝑋𝑡	PROPN
fbem-10372	134	2	𝑘	𝑘	PROPN
fbem-10372	134	3	represents	represent	VERB
fbem-10372	134	4	the	the	DET
fbem-10372	134	5	firm	firm	ADJ
fbem-10372	134	6	-	-	PUNCT
fbem-10372	134	7	level	level	NOUN
fbem-10372	134	8	control	control	NOUN
fbem-10372	134	9	variables	variable	NOUN
fbem-10372	134	10	,	,	PUNCT
fbem-10372	134	11	𝛿𝑡	𝛿𝑡	PROPN
fbem-10372	134	12	represents	represent	VERB
fbem-10372	134	13	year	year	NOUN
fbem-10372	134	14	fixed	fix	VERB
fbem-10372	134	15	effects	effect	NOUN
fbem-10372	134	16	,	,	PUNCT
fbem-10372	134	17	and	and	CCONJ
fbem-10372	134	18	𝜀	𝜀	NOUN
fbem-10372	134	19	represents	represent	VERB
fbem-10372	134	20	the	the	DET
fbem-10372	134	21	error	error	NOUN
fbem-10372	134	22	term	term	NOUN
fbem-10372	134	23	.	.	PUNCT
fbem-10372	135	1	from	from	ADP
fbem-10372	135	2	the	the	DET
fbem-10372	135	3	table	table	NOUN
fbem-10372	135	4	below	below	ADV
fbem-10372	135	5	,	,	PUNCT
fbem-10372	135	6	it	it	PRON
fbem-10372	135	7	can	can	AUX
fbem-10372	135	8	be	be	AUX
fbem-10372	135	9	observed	observe	VERB
fbem-10372	135	10	that	that	SCONJ
fbem-10372	135	11	even	even	ADV
fbem-10372	135	12	after	after	ADP
fbem-10372	135	13	changing	change	VERB
fbem-10372	135	14	the	the	DET
fbem-10372	135	15	model	model	NOUN
fbem-10372	135	16	specification	specification	NOUN
fbem-10372	135	17	,	,	PUNCT
fbem-10372	135	18	hypotheses	hypothese	VERB
fbem-10372	135	19	1	1	NUM
fbem-10372	135	20	-	-	SYM
fbem-10372	135	21	4	4	NUM
fbem-10372	135	22	of	of	ADP
fbem-10372	135	23	the	the	DET
fbem-10372	135	24	study	study	NOUN
fbem-10372	135	25	still	still	ADV
fbem-10372	135	26	hold	hold	VERB
fbem-10372	135	27	,	,	PUNCT
fbem-10372	135	28	indicating	indicate	VERB
fbem-10372	135	29	the	the	DET
fbem-10372	135	30	robustness	robustness	NOUN
fbem-10372	135	31	of	of	ADP
fbem-10372	135	32	the	the	DET
fbem-10372	135	33	research	research	NOUN
fbem-10372	135	34	findings	finding	NOUN
fbem-10372	135	35	.	.	PUNCT
fbem-10372	136	1	robustness	robustness	NOUN
fbem-10372	136	2	test	test	NOUN
fbem-10372	136	3	variables	variable	VERB
fbem-10372	136	4	profitability	profitability	NOUN
fbem-10372	136	5	development	development	NOUN
fbem-10372	136	6	capability	capability	NOUN
fbem-10372	136	7	debt	debt	NOUN
fbem-10372	136	8	repayment	repayment	NOUN
fbem-10372	136	9	capability	capability	NOUN
fbem-10372	136	10	operational	operational	ADJ
fbem-10372	136	11	capability	capability	NOUN
fbem-10372	136	12	re	re	ADP
fbem-10372	136	13	0.047	0.047	NUM
fbem-10372	136	14	*	*	PUNCT
fbem-10372	136	15	*	*	PUNCT
fbem-10372	136	16	*	*	PUNCT
fbem-10372	136	17	-1.242	-1.242	PUNCT
fbem-10372	136	18	*	*	PUNCT
fbem-10372	136	19	*	*	PUNCT
fbem-10372	136	20	*	*	PUNCT
fbem-10372	136	21	-0.112	-0.112	PUNCT
fbem-10372	136	22	*	*	PUNCT
fbem-10372	136	23	*	*	PUNCT
fbem-10372	136	24	-1.099	-1.099	PROPN
fbem-10372	136	25	*	*	PUNCT
fbem-10372	136	26	*	*	PUNCT
fbem-10372	136	27	*	*	PUNCT
fbem-10372	136	28	(	(	PUNCT
fbem-10372	136	29	0.024	0.024	NUM
fbem-10372	136	30	)	)	PUNCT
fbem-10372	136	31	(	(	PUNCT
fbem-10372	136	32	0.171	0.171	NUM
fbem-10372	136	33	)	)	PUNCT
fbem-10372	136	34	(	(	PUNCT
fbem-10372	136	35	0.056	0.056	NUM
fbem-10372	136	36	)	)	PUNCT
fbem-10372	136	37	(	(	PUNCT
fbem-10372	136	38	0.101	0.101	NUM
fbem-10372	136	39	)	)	PUNCT
fbem-10372	136	40	lev	lev	NOUN
fbem-10372	136	41	0.022	0.022	NUM
fbem-10372	136	42	*	*	PUNCT
fbem-10372	136	43	*	*	PUNCT
fbem-10372	136	44	*	*	PUNCT
fbem-10372	136	45	0.515	0.515	NUM
fbem-10372	136	46	*	*	PUNCT
fbem-10372	136	47	*	*	PUNCT
fbem-10372	136	48	*	*	PUNCT
fbem-10372	136	49	0.360	0.360	NUM
fbem-10372	136	50	*	*	PUNCT
fbem-10372	136	51	*	*	PUNCT
fbem-10372	136	52	*	*	PUNCT
fbem-10372	136	53	0.509	0.509	NUM
fbem-10372	136	54	*	*	PUNCT
fbem-10372	136	55	*	*	PUNCT
fbem-10372	136	56	*	*	PUNCT
fbem-10372	136	57	(	(	PUNCT
fbem-10372	136	58	0.003	0.003	NUM
fbem-10372	136	59	)	)	PUNCT
fbem-10372	136	60	(	(	PUNCT
fbem-10372	136	61	0.031	0.031	NUM
fbem-10372	136	62	)	)	PUNCT
fbem-10372	136	63	(	(	PUNCT
fbem-10372	136	64	0.012	0.012	NUM
fbem-10372	136	65	)	)	PUNCT
fbem-10372	136	66	(	(	PUNCT
fbem-10372	136	67	0.017	0.017	NUM
fbem-10372	136	68	)	)	PUNCT
fbem-10372	136	69	stock	stock	NOUN
fbem-10372	136	70	-0.176	-0.176	NOUN
fbem-10372	136	71	*	*	PUNCT
fbem-10372	136	72	*	*	PUNCT
fbem-10372	136	73	*	*	PUNCT
fbem-10372	136	74	0.091	0.091	NUM
fbem-10372	136	75	-0.248	-0.248	NOUN
fbem-10372	136	76	*	*	PUNCT
fbem-10372	136	77	*	*	PUNCT
fbem-10372	136	78	*	*	PUNCT
fbem-10372	136	79	-0.162	-0.162	PROPN
fbem-10372	136	80	*	*	PUNCT
fbem-10372	136	81	*	*	PUNCT
fbem-10372	136	82	*	*	PUNCT
fbem-10372	136	83	(	(	PUNCT
fbem-10372	136	84	0.021	0.021	NUM
fbem-10372	136	85	)	)	PUNCT
fbem-10372	136	86	(	(	PUNCT
fbem-10372	136	87	0.146	0.146	NUM
fbem-10372	136	88	)	)	PUNCT
fbem-10372	136	89	(	(	PUNCT
fbem-10372	136	90	0.039	0.039	NUM
fbem-10372	136	91	)	)	PUNCT
fbem-10372	136	92	(	(	PUNCT
fbem-10372	136	93	0.061	0.061	NUM
fbem-10372	136	94	)	)	PUNCT
fbem-10372	136	95	turn	turn	VERB
fbem-10372	136	96	-0.239	-0.239	PUNCT
fbem-10372	136	97	*	*	PUNCT
fbem-10372	136	98	*	*	PUNCT
fbem-10372	136	99	*	*	PUNCT
fbem-10372	136	100	0.340	0.340	NUM
fbem-10372	136	101	*	*	PUNCT
fbem-10372	136	102	*	*	PUNCT
fbem-10372	136	103	*	*	PUNCT
fbem-10372	136	104	0.226	0.226	NUM
fbem-10372	136	105	*	*	PUNCT
fbem-10372	136	106	*	*	PUNCT
fbem-10372	136	107	*	*	PUNCT
fbem-10372	136	108	-0.028	-0.028	INTJ
fbem-10372	136	109	(	(	PUNCT
fbem-10372	136	110	0.018	0.018	NUM
fbem-10372	136	111	)	)	PUNCT
fbem-10372	136	112	(	(	PUNCT
fbem-10372	136	113	0.095	0.095	NUM
fbem-10372	136	114	)	)	PUNCT
fbem-10372	136	115	(	(	PUNCT
fbem-10372	136	116	0.047	0.047	NUM
fbem-10372	136	117	)	)	PUNCT
fbem-10372	136	118	(	(	PUNCT
fbem-10372	136	119	0.046	0.046	NUM
fbem-10372	136	120	)	)	PUNCT
fbem-10372	136	121	size	size	NOUN
fbem-10372	136	122	-2.033	-2.033	PUNCT
fbem-10372	136	123	*	*	PUNCT
fbem-10372	136	124	*	*	PUNCT
fbem-10372	136	125	-4.925	-4.925	PUNCT
fbem-10372	136	126	6.651	6.651	NUM
fbem-10372	136	127	*	*	PUNCT
fbem-10372	136	128	*	*	PUNCT
fbem-10372	136	129	*	*	PUNCT
fbem-10372	136	130	0.896	0.896	NUM
fbem-10372	136	131	(	(	PUNCT
fbem-10372	136	132	0.793	0.793	NUM
fbem-10372	136	133	)	)	PUNCT
fbem-10372	136	134	(	(	PUNCT
fbem-10372	136	135	4.148	4.148	NUM
fbem-10372	136	136	)	)	PUNCT
fbem-10372	136	137	(	(	PUNCT
fbem-10372	136	138	1.710	1.710	NUM
fbem-10372	136	139	)	)	PUNCT
fbem-10372	136	140	(	(	PUNCT
fbem-10372	136	141	1.818	1.818	NUM
fbem-10372	136	142	)	)	PUNCT
fbem-10372	136	143	top1	top1	PROPN
fbem-10372	136	144	-4.212	-4.212	NUM
fbem-10372	136	145	-25.561	-25.561	PROPN
fbem-10372	136	146	-26.388	-26.388	PROPN
fbem-10372	136	147	1.316	1.316	NUM
fbem-10372	136	148	(	(	PUNCT
fbem-10372	136	149	2.895	2.895	NUM
fbem-10372	136	150	)	)	PUNCT
fbem-10372	136	151	(	(	PUNCT
fbem-10372	136	152	17.756	17.756	NUM
fbem-10372	136	153	)	)	PUNCT
fbem-10372	136	154	(	(	PUNCT
fbem-10372	136	155	22.939	22.939	NUM
fbem-10372	136	156	)	)	PUNCT
fbem-10372	136	157	(	(	PUNCT
fbem-10372	136	158	3.289	3.289	NUM
fbem-10372	136	159	)	)	PUNCT
fbem-10372	136	160	year	year	NOUN
fbem-10372	136	161	control	control	NOUN
fbem-10372	136	162	control	control	PROPN
fbem-10372	136	163	control	control	PROPN
fbem-10372	136	164	control	control	NOUN
fbem-10372	136	165	pseudo	pseudo	NOUN
fbem-10372	136	166	r2	r2	PROPN
fbem-10372	136	167	0.035	0.035	NUM
fbem-10372	136	168	0.173	0.173	NUM
fbem-10372	136	169	0.152	0.152	NUM
fbem-10372	136	170	0.174	0.174	NUM
fbem-10372	136	171	5.5	5.5	NUM
fbem-10372	136	172	.	.	PUNCT
fbem-10372	137	1	research	research	NOUN
fbem-10372	137	2	results	result	NOUN
fbem-10372	137	3	and	and	CCONJ
fbem-10372	137	4	discussion	discussion	NOUN
fbem-10372	137	5	through	through	ADP
fbem-10372	137	6	data	datum	NOUN
fbem-10372	137	7	collection	collection	NOUN
fbem-10372	137	8	,	,	PUNCT
fbem-10372	137	9	model	model	NOUN
fbem-10372	137	10	design	design	NOUN
fbem-10372	137	11	,	,	PUNCT
fbem-10372	137	12	and	and	CCONJ
fbem-10372	137	13	empirical	empirical	ADJ
fbem-10372	137	14	regression	regression	NOUN
fbem-10372	137	15	,	,	PUNCT
fbem-10372	137	16	this	this	DET
fbem-10372	137	17	study	study	NOUN
fbem-10372	137	18	has	have	AUX
fbem-10372	137	19	verified	verify	VERB
fbem-10372	137	20	the	the	DET
fbem-10372	137	21	four	four	NUM
fbem-10372	137	22	hypotheses	hypothesis	NOUN
fbem-10372	137	23	and	and	CCONJ
fbem-10372	137	24	obtained	obtain	VERB
fbem-10372	137	25	the	the	DET
fbem-10372	137	26	following	following	ADJ
fbem-10372	137	27	conclusions	conclusion	NOUN
fbem-10372	137	28	for	for	ADP
fbem-10372	137	29	cr	cr	PROPN
fbem-10372	137	30	sanjiu	sanjiu	PROPN
fbem-10372	137	31	pharmaceutical	pharmaceutical	PROPN
fbem-10372	137	32	co.	co.	PROPN
fbem-10372	137	33	,	,	PUNCT
fbem-10372	137	34	ltd	ltd	PROPN
fbem-10372	137	35	.	.	PROPN
fbem-10372	137	36	:	:	PUNCT
fbem-10372	138	1	(	(	PUNCT
fbem-10372	138	2	1	1	X
fbem-10372	138	3	)	)	PUNCT
fbem-10372	138	4	there	there	PRON
fbem-10372	138	5	is	be	VERB
fbem-10372	138	6	a	a	DET
fbem-10372	138	7	positive	positive	ADJ
fbem-10372	138	8	correlation	correlation	NOUN
fbem-10372	138	9	between	between	ADP
fbem-10372	138	10	the	the	DET
fbem-10372	138	11	company	company	NOUN
fbem-10372	138	12	's	's	PART
fbem-10372	138	13	marketing	marketing	NOUN
fbem-10372	138	14	expense	expense	NOUN
fbem-10372	138	15	ratio	ratio	NOUN
fbem-10372	138	16	and	and	CCONJ
fbem-10372	138	17	profitability	profitability	NOUN
fbem-10372	138	18	.	.	PUNCT
fbem-10372	139	1	an	an	DET
fbem-10372	139	2	increase	increase	NOUN
fbem-10372	139	3	in	in	ADP
fbem-10372	139	4	the	the	DET
fbem-10372	139	5	marketing	marketing	NOUN
fbem-10372	139	6	expense	expense	NOUN
fbem-10372	139	7	ratio	ratio	NOUN
fbem-10372	139	8	corresponds	correspond	VERB
fbem-10372	139	9	to	to	ADP
fbem-10372	139	10	an	an	DET
fbem-10372	139	11	increase	increase	NOUN
fbem-10372	139	12	in	in	ADP
fbem-10372	139	13	profitability	profitability	NOUN
fbem-10372	139	14	.	.	PUNCT
fbem-10372	140	1	(	(	PUNCT
fbem-10372	140	2	2	2	X
fbem-10372	140	3	)	)	PUNCT
fbem-10372	140	4	there	there	PRON
fbem-10372	140	5	is	be	VERB
fbem-10372	140	6	a	a	DET
fbem-10372	140	7	positive	positive	ADJ
fbem-10372	140	8	correlation	correlation	NOUN
fbem-10372	140	9	between	between	ADP
fbem-10372	140	10	the	the	DET
fbem-10372	140	11	company	company	NOUN
fbem-10372	140	12	's	's	PART
fbem-10372	140	13	marketing	marketing	NOUN
fbem-10372	140	14	expense	expense	NOUN
fbem-10372	140	15	ratio	ratio	NOUN
fbem-10372	140	16	and	and	CCONJ
fbem-10372	140	17	development	development	NOUN
fbem-10372	140	18	capability	capability	NOUN
fbem-10372	140	19	.	.	PUNCT
fbem-10372	141	1	a	a	DET
fbem-10372	141	2	higher	high	ADJ
fbem-10372	141	3	marketing	marketing	NOUN
fbem-10372	141	4	expense	expense	NOUN
fbem-10372	141	5	ratio	ratio	NOUN
fbem-10372	141	6	indicates	indicate	VERB
fbem-10372	141	7	better	well	ADJ
fbem-10372	141	8	development	development	NOUN
fbem-10372	141	9	capability	capability	NOUN
fbem-10372	141	10	.	.	PUNCT
fbem-10372	142	1	(	(	PUNCT
fbem-10372	142	2	3	3	X
fbem-10372	142	3	)	)	PUNCT
fbem-10372	142	4	there	there	PRON
fbem-10372	142	5	is	be	VERB
fbem-10372	142	6	a	a	DET
fbem-10372	142	7	negative	negative	ADJ
fbem-10372	142	8	correlation	correlation	NOUN
fbem-10372	142	9	between	between	ADP
fbem-10372	142	10	the	the	DET
fbem-10372	142	11	company	company	NOUN
fbem-10372	142	12	's	's	PART
fbem-10372	142	13	marketing	marketing	NOUN
fbem-10372	142	14	expense	expense	NOUN
fbem-10372	142	15	ratio	ratio	NOUN
fbem-10372	142	16	and	and	CCONJ
fbem-10372	142	17	debt	debt	NOUN
fbem-10372	142	18	repayment	repayment	NOUN
fbem-10372	142	19	ability	ability	NOUN
fbem-10372	142	20	.	.	PUNCT
fbem-10372	143	1	a	a	DET
fbem-10372	143	2	higher	high	ADJ
fbem-10372	143	3	marketing	marketing	NOUN
fbem-10372	143	4	expense	expense	NOUN
fbem-10372	143	5	ratio	ratio	NOUN
fbem-10372	143	6	can	can	AUX
fbem-10372	143	7	reduce	reduce	VERB
fbem-10372	143	8	the	the	DET
fbem-10372	143	9	company	company	NOUN
fbem-10372	143	10	's	's	PART
fbem-10372	143	11	ability	ability	NOUN
fbem-10372	143	12	to	to	PART
fbem-10372	143	13	repay	repay	VERB
fbem-10372	143	14	its	its	PRON
fbem-10372	143	15	outstanding	outstanding	ADJ
fbem-10372	143	16	debts	debt	NOUN
fbem-10372	143	17	.	.	PUNCT
fbem-10372	144	1	(	(	PUNCT
fbem-10372	144	2	4	4	X
fbem-10372	144	3	)	)	PUNCT
fbem-10372	144	4	there	there	PRON
fbem-10372	144	5	is	be	VERB
fbem-10372	144	6	a	a	DET
fbem-10372	144	7	negative	negative	ADJ
fbem-10372	144	8	correlation	correlation	NOUN
fbem-10372	144	9	between	between	ADP
fbem-10372	144	10	the	the	DET
fbem-10372	144	11	company	company	NOUN
fbem-10372	144	12	's	's	PART
fbem-10372	144	13	marketing	marketing	NOUN
fbem-10372	144	14	expense	expense	NOUN
fbem-10372	144	15	ratio	ratio	NOUN
fbem-10372	144	16	and	and	CCONJ
fbem-10372	144	17	operational	operational	ADJ
fbem-10372	144	18	capability	capability	NOUN
fbem-10372	144	19	.	.	PUNCT
fbem-10372	145	1	the	the	DET
fbem-10372	145	2	growth	growth	NOUN
fbem-10372	145	3	of	of	ADP
fbem-10372	145	4	marketing	marketing	NOUN
fbem-10372	145	5	expenses	expense	NOUN
fbem-10372	145	6	can	can	AUX
fbem-10372	145	7	have	have	VERB
fbem-10372	145	8	a	a	DET
fbem-10372	145	9	detrimental	detrimental	ADJ
fbem-10372	145	10	effect	effect	NOUN
fbem-10372	145	11	on	on	ADP
fbem-10372	145	12	the	the	DET
fbem-10372	145	13	company	company	NOUN
fbem-10372	145	14	's	's	PART
fbem-10372	145	15	long	long	ADJ
fbem-10372	145	16	-	-	PUNCT
fbem-10372	145	17	term	term	NOUN
fbem-10372	145	18	operational	operational	ADJ
fbem-10372	145	19	funding	funding	NOUN
fbem-10372	145	20	.	.	PUNCT
fbem-10372	146	1	6	6	NUM
fbem-10372	146	2	.	.	NUM
fbem-10372	146	3	limitations	limitation	NOUN
fbem-10372	146	4	and	and	CCONJ
fbem-10372	146	5	prospects	prospect	NOUN
fbem-10372	146	6	currently	currently	ADV
fbem-10372	146	7	,	,	PUNCT
fbem-10372	146	8	there	there	PRON
fbem-10372	146	9	is	be	VERB
fbem-10372	146	10	no	no	DET
fbem-10372	146	11	unified	unified	ADJ
fbem-10372	146	12	disclosure	disclosure	NOUN
fbem-10372	146	13	of	of	ADP
fbem-10372	146	14	sales	sale	NOUN
fbem-10372	146	15	cost	cost	NOUN
fbem-10372	146	16	expenses	expense	NOUN
fbem-10372	146	17	in	in	ADP
fbem-10372	146	18	the	the	DET
fbem-10372	146	19	financial	financial	ADJ
fbem-10372	146	20	accounting	accounting	NOUN
fbem-10372	146	21	statements	statement	NOUN
fbem-10372	146	22	of	of	ADP
fbem-10372	146	23	listed	list	VERB
fbem-10372	146	24	companies	company	NOUN
fbem-10372	146	25	in	in	ADP
fbem-10372	146	26	china	china	PROPN
fbem-10372	146	27	.	.	PUNCT
fbem-10372	147	1	in	in	ADP
fbem-10372	147	2	examining	examine	VERB
fbem-10372	147	3	the	the	DET
fbem-10372	147	4	marketing	marketing	NOUN
fbem-10372	147	5	cost	cost	NOUN
fbem-10372	147	6	expenses	expense	NOUN
fbem-10372	147	7	of	of	ADP
fbem-10372	147	8	cr	cr	PROPN
fbem-10372	147	9	sanjiu	sanjiu	PROPN
fbem-10372	147	10	pharmaceutical	pharmaceutical	PROPN
fbem-10372	147	11	co.	co.	PROPN
fbem-10372	147	12	,	,	PUNCT
fbem-10372	147	13	ltd	ltd	PROPN
fbem-10372	147	14	.	.	PROPN
fbem-10372	147	15	,	,	PUNCT
fbem-10372	147	16	the	the	DET
fbem-10372	147	17	detailed	detailed	ADJ
fbem-10372	147	18	items	item	NOUN
fbem-10372	147	19	under	under	ADP
fbem-10372	147	20	marketing	marketing	NOUN
fbem-10372	147	21	cost	cost	NOUN
fbem-10372	147	22	expenses	expense	NOUN
fbem-10372	147	23	and	and	CCONJ
fbem-10372	147	24	comprehensive	comprehensive	ADJ
fbem-10372	147	25	management	management	NOUN
fbem-10372	147	26	cost	cost	NOUN
fbem-10372	147	27	expenses	expense	NOUN
fbem-10372	147	28	were	be	AUX
fbem-10372	147	29	considered	consider	VERB
fbem-10372	147	30	.	.	PUNCT
fbem-10372	148	1	therefore	therefore	ADV
fbem-10372	148	2	,	,	PUNCT
fbem-10372	148	3	there	there	ADV
fbem-10372	148	4	214	214	NUM
fbem-10372	148	5	may	may	AUX
fbem-10372	148	6	be	be	AUX
fbem-10372	148	7	significant	significant	ADJ
fbem-10372	148	8	deviations	deviation	NOUN
fbem-10372	148	9	in	in	ADP
fbem-10372	148	10	calculating	calculate	VERB
fbem-10372	148	11	the	the	DET
fbem-10372	148	12	total	total	ADJ
fbem-10372	148	13	sales	sale	NOUN
fbem-10372	148	14	cost	cost	NOUN
fbem-10372	148	15	expenses	expense	NOUN
fbem-10372	148	16	and	and	CCONJ
fbem-10372	148	17	the	the	DET
fbem-10372	148	18	expenses	expense	NOUN
fbem-10372	148	19	related	relate	VERB
fbem-10372	148	20	to	to	ADP
fbem-10372	148	21	each	each	DET
fbem-10372	148	22	sales	sale	NOUN
fbem-10372	148	23	activity	activity	NOUN
fbem-10372	148	24	,	,	PUNCT
fbem-10372	148	25	resulting	result	VERB
fbem-10372	148	26	in	in	ADP
fbem-10372	148	27	some	some	DET
fbem-10372	148	28	degree	degree	NOUN
fbem-10372	148	29	of	of	ADP
fbem-10372	148	30	bias	bias	NOUN
fbem-10372	148	31	and	and	CCONJ
fbem-10372	148	32	subjective	subjective	ADJ
fbem-10372	148	33	judgment	judgment	NOUN
fbem-10372	148	34	in	in	ADP
fbem-10372	148	35	the	the	DET
fbem-10372	148	36	research	research	NOUN
fbem-10372	148	37	findings	finding	NOUN
fbem-10372	148	38	.	.	PUNCT
fbem-10372	149	1	in	in	ADP
fbem-10372	149	2	the	the	DET
fbem-10372	149	3	future	future	NOUN
fbem-10372	149	4	,	,	PUNCT
fbem-10372	149	5	it	it	PRON
fbem-10372	149	6	is	be	AUX
fbem-10372	149	7	necessary	necessary	ADJ
fbem-10372	149	8	to	to	PART
fbem-10372	149	9	further	far	ADV
fbem-10372	149	10	refine	refine	VERB
fbem-10372	149	11	and	and	CCONJ
fbem-10372	149	12	expand	expand	VERB
fbem-10372	149	13	the	the	DET
fbem-10372	149	14	dimensions	dimension	NOUN
fbem-10372	149	15	and	and	CCONJ
fbem-10372	149	16	indicators	indicator	NOUN
fbem-10372	149	17	of	of	ADP
fbem-10372	149	18	marketing	marketing	NOUN
fbem-10372	149	19	cost	cost	NOUN
fbem-10372	149	20	expenses	expense	NOUN
fbem-10372	149	21	.	.	PUNCT
fbem-10372	150	1	the	the	DET
fbem-10372	150	2	impact	impact	NOUN
fbem-10372	150	3	of	of	ADP
fbem-10372	150	4	different	different	ADJ
fbem-10372	150	5	sales	sale	NOUN
fbem-10372	150	6	activities	activity	NOUN
fbem-10372	150	7	on	on	ADP
fbem-10372	150	8	the	the	DET
fbem-10372	150	9	operational	operational	ADJ
fbem-10372	150	10	management	management	NOUN
fbem-10372	150	11	performance	performance	NOUN
fbem-10372	150	12	of	of	ADP
fbem-10372	150	13	cr	cr	PROPN
fbem-10372	150	14	sanjiu	sanjiu	PROPN
fbem-10372	150	15	pharmaceutical	pharmaceutical	PROPN
fbem-10372	150	16	co.	co.	PROPN
fbem-10372	150	17	,	,	PUNCT
fbem-10372	150	18	ltd	ltd	PROPN
fbem-10372	150	19	.	.	PROPN
fbem-10372	150	20	may	may	AUX
fbem-10372	150	21	also	also	ADV
fbem-10372	150	22	have	have	VERB
fbem-10372	150	23	a	a	DET
fbem-10372	150	24	lagging	lag	VERB
fbem-10372	150	25	effect	effect	NOUN
fbem-10372	150	26	.	.	PUNCT
fbem-10372	151	1	future	future	ADJ
fbem-10372	151	2	research	research	NOUN
fbem-10372	151	3	on	on	ADP
fbem-10372	151	4	the	the	DET
fbem-10372	151	5	company	company	NOUN
fbem-10372	151	6	's	's	PART
fbem-10372	151	7	operational	operational	ADJ
fbem-10372	151	8	performance	performance	NOUN
fbem-10372	151	9	should	should	AUX
fbem-10372	151	10	consider	consider	VERB
fbem-10372	151	11	factors	factor	NOUN
fbem-10372	151	12	related	relate	VERB
fbem-10372	151	13	to	to	ADP
fbem-10372	151	14	lagging	lag	VERB
fbem-10372	151	15	effects	effect	NOUN
fbem-10372	151	16	.	.	PUNCT
fbem-10372	152	1	references	reference	NOUN
fbem-10372	152	2	[	[	X
fbem-10372	152	3	1	1	NUM
fbem-10372	152	4	]	]	PUNCT
fbem-10372	152	5	jun	jun	PROPN
fbem-10372	152	6	bai	bai	PROPN
fbem-10372	152	7	,	,	PUNCT
fbem-10372	152	8	lishuai	lishuai	PROPN
fbem-10372	152	9	lian	lian	PROPN
fbem-10372	152	10	.	.	PUNCT
fbem-10372	152	11	credit	credit	NOUN
fbem-10372	152	12	fund	fund	NOUN
fbem-10372	152	13	allocation	allocation	NOUN
fbem-10372	152	14	differences	difference	NOUN
fbem-10372	152	15	:	:	PUNCT
fbem-10372	152	16	ownership	ownership	NOUN
fbem-10372	152	17	discrimination	discrimination	NOUN
fbem-10372	152	18	or	or	CCONJ
fbem-10372	152	19	endowment	endowment	NOUN
fbem-10372	152	20	differences	difference	NOUN
fbem-10372	152	21	?	?	PUNCT
fbem-10372	153	1	[	[	X
fbem-10372	153	2	j	j	X
fbem-10372	153	3	]	]	X
fbem-10372	153	4	.	.	PUNCT
fbem-10372	154	1	management	management	NOUN
fbem-10372	154	2	world	world	NOUN
fbem-10372	154	3	,	,	PUNCT
fbem-10372	154	4	2012(06	2012(06	NUM
fbem-10372	154	5	):	):	PUNCT
fbem-10372	154	6	30	30	NUM
fbem-10372	154	7	-	-	SYM
fbem-10372	154	8	42	42	NUM
fbem-10372	154	9	+	+	NOUN
fbem-10372	154	10	73	73	NUM
fbem-10372	154	11	.	.	PUNCT
fbem-10372	155	1	[	[	X
fbem-10372	155	2	2	2	NUM
fbem-10372	155	3	]	]	X
fbem-10372	155	4	yiming	yiming	PROPN
fbem-10372	155	5	hu	hu	PROPN
fbem-10372	155	6	,	,	PUNCT
fbem-10372	155	7	xueting	xueting	PROPN
fbem-10372	155	8	wang	wang	PROPN
fbem-10372	155	9	,	,	PUNCT
fbem-10372	155	10	jin	jin	PROPN
fbem-10372	155	11	zhang	zhang	PROPN
fbem-10372	155	12	.	.	PUNCT
fbem-10372	156	1	motivation	motivation	NOUN
fbem-10372	156	2	for	for	ADP
fbem-10372	156	3	financial	financial	ADJ
fbem-10372	156	4	asset	asset	NOUN
fbem-10372	156	5	allocation	allocation	NOUN
fbem-10372	156	6	:	:	PUNCT
fbem-10372	156	7	"	"	PUNCT
fbem-10372	156	8	reservoir	reservoir	NOUN
fbem-10372	156	9	"	"	PUNCT
fbem-10372	156	10	or	or	CCONJ
fbem-10372	156	11	"	"	PUNCT
fbem-10372	156	12	substitute	substitute	NOUN
fbem-10372	156	13	"	"	PUNCT
fbem-10372	156	14	?	?	PUNCT
fbem-10372	157	1	evidence	evidence	NOUN
fbem-10372	157	2	from	from	ADP
fbem-10372	157	3	chinese	chinese	ADJ
fbem-10372	157	4	listed	list	VERB
fbem-10372	157	5	companies	company	NOUN
fbem-10372	157	6	[	[	X
fbem-10372	157	7	j	j	X
fbem-10372	157	8	]	]	X
fbem-10372	157	9	.	.	PUNCT
fbem-10372	158	1	economic	economic	ADJ
fbem-10372	158	2	research	research	NOUN
fbem-10372	158	3	,	,	PUNCT
fbem-10372	158	4	2017	2017	NUM
fbem-10372	158	5	,	,	PUNCT
fbem-10372	158	6	52(01	52(01	NUM
fbem-10372	158	7	):	):	PUNCT
fbem-10372	158	8	181	181	NUM
fbem-10372	158	9	-	-	SYM
fbem-10372	158	10	194	194	NUM
fbem-10372	158	11	.	.	PUNCT
fbem-10372	159	1	[	[	X
fbem-10372	159	2	3	3	X
fbem-10372	159	3	]	]	X
fbem-10372	159	4	subin	subin	PROPN
fbem-10372	159	5	wen	wen	PROPN
fbem-10372	159	6	,	,	PUNCT
fbem-10372	159	7	liuli	liuli	PROPN
fbem-10372	159	8	zhou	zhou	PROPN
fbem-10372	159	9	.	.	PUNCT
fbem-10372	160	1	the	the	DET
fbem-10372	160	2	mechanism	mechanism	NOUN
fbem-10372	160	3	of	of	ADP
fbem-10372	160	4	the	the	DET
fbem-10372	160	5	impact	impact	NOUN
fbem-10372	160	6	of	of	ADP
fbem-10372	160	7	corporate	corporate	ADJ
fbem-10372	160	8	carbon	carbon	NOUN
fbem-10372	160	9	information	information	NOUN
fbem-10372	160	10	disclosure	disclosure	NOUN
fbem-10372	160	11	on	on	ADP
fbem-10372	160	12	financial	financial	ADJ
fbem-10372	160	13	performance	performance	NOUN
fbem-10372	160	14	:	:	PUNCT
fbem-10372	160	15	the	the	DET
fbem-10372	160	16	"	"	PUNCT
fbem-10372	160	17	inverse	inverse	NOUN
fbem-10372	160	18	u	u	NOUN
fbem-10372	160	19	-	-	ADJ
fbem-10372	160	20	shaped	shaped	ADJ
fbem-10372	160	21	"	"	PUNCT
fbem-10372	160	22	moderating	moderate	VERB
fbem-10372	160	23	effect	effect	NOUN
fbem-10372	160	24	of	of	ADP
fbem-10372	160	25	media	medium	NOUN
fbem-10372	160	26	governance	governance	NOUN
fbem-10372	161	1	[	[	X
fbem-10372	161	2	j	j	X
fbem-10372	161	3	]	]	X
fbem-10372	161	4	.	.	PUNCT
fbem-10372	162	1	management	management	PROPN
fbem-10372	162	2	review	review	PROPN
fbem-10372	162	3	,	,	PUNCT
fbem-10372	162	4	2017	2017	NUM
fbem-10372	162	5	,	,	PUNCT
fbem-10372	162	6	29(11	29(11	NUM
fbem-10372	162	7	):	):	PUNCT
fbem-10372	162	8	183	183	NUM
fbem-10372	162	9	-	-	SYM
fbem-10372	162	10	195	195	NUM
fbem-10372	162	11	.	.	PUNCT
fbem-10372	163	1	[	[	X
fbem-10372	163	2	4	4	X
fbem-10372	163	3	]	]	X
fbem-10372	163	4	lu	lu	PROPN
fbem-10372	163	5	li	li	PROPN
fbem-10372	163	6	.	.	PROPN
fbem-10372	163	7	research	research	NOUN
fbem-10372	163	8	on	on	ADP
fbem-10372	163	9	the	the	DET
fbem-10372	163	10	inverted	inverted	ADJ
fbem-10372	163	11	u	u	ADJ
fbem-10372	163	12	-	-	ADJ
fbem-10372	163	13	shaped	shape	VERB
fbem-10372	163	14	relationship	relationship	NOUN
fbem-10372	163	15	between	between	ADP
fbem-10372	163	16	capital	capital	NOUN
fbem-10372	163	17	structure	structure	NOUN
fbem-10372	163	18	and	and	CCONJ
fbem-10372	163	19	corporate	corporate	ADJ
fbem-10372	163	20	value	value	NOUN
fbem-10372	163	21	:	:	PUNCT
fbem-10372	163	22	based	base	VERB
fbem-10372	163	23	on	on	ADP
fbem-10372	163	24	the	the	DET
fbem-10372	163	25	mediating	mediate	VERB
fbem-10372	163	26	effect	effect	NOUN
fbem-10372	163	27	of	of	ADP
fbem-10372	163	28	enterprise	enterprise	NOUN
fbem-10372	163	29	risk	risk	NOUN
fbem-10372	163	30	-	-	PUNCT
fbem-10372	163	31	taking	take	VERB
fbem-10372	163	32	[	[	X
fbem-10372	163	33	j	j	X
fbem-10372	163	34	]	]	X
fbem-10372	163	35	.	.	PUNCT
fbem-10372	164	1	jiangsu	jiangsu	PROPN
fbem-10372	164	2	social	social	PROPN
fbem-10372	164	3	sciences	sciences	PROPN
fbem-10372	164	4	,	,	PUNCT
fbem-10372	164	5	2016(03	2016(03	NUM
fbem-10372	164	6	):	):	PUNCT
fbem-10372	164	7	109	109	NUM
fbem-10372	164	8	-	-	SYM
fbem-10372	164	9	115	115	NUM
fbem-10372	164	10	.	.	PUNCT
fbem-10372	165	1	[	[	X
fbem-10372	165	2	5	5	NUM
fbem-10372	165	3	]	]	PUNCT
fbem-10372	165	4	yushan	yushan	PROPN
fbem-10372	165	5	cao	cao	PROPN
fbem-10372	165	6	.	.	PUNCT
fbem-10372	166	1	the	the	DET
fbem-10372	166	2	correlation	correlation	NOUN
fbem-10372	166	3	between	between	ADP
fbem-10372	166	4	operating	operate	VERB
fbem-10372	166	5	working	work	VERB
fbem-10372	166	6	capital	capital	NOUN
fbem-10372	166	7	management	management	NOUN
fbem-10372	166	8	efficiency	efficiency	NOUN
fbem-10372	166	9	and	and	CCONJ
fbem-10372	166	10	firm	firm	ADJ
fbem-10372	166	11	performance	performance	NOUN
fbem-10372	166	12	:	:	PUNCT
fbem-10372	166	13	empirical	empirical	ADJ
fbem-10372	166	14	evidence	evidence	NOUN
fbem-10372	166	15	from	from	ADP
fbem-10372	166	16	chinese	chinese	ADJ
fbem-10372	166	17	listed	list	VERB
fbem-10372	166	18	companies	company	NOUN
fbem-10372	167	1	[	[	X
fbem-10372	167	2	j	j	X
fbem-10372	167	3	]	]	X
fbem-10372	167	4	.	.	PUNCT
fbem-10372	168	1	contemporary	contemporary	ADJ
fbem-10372	168	2	finance	finance	PROPN
fbem-10372	168	3	&	&	CCONJ
fbem-10372	168	4	economics	economic	NOUN
fbem-10372	168	5	,	,	PUNCT
fbem-10372	168	6	2013(08	2013(08	NUM
fbem-10372	168	7	):	):	PUNCT
fbem-10372	168	8	109	109	NUM
fbem-10372	168	9	-	-	SYM
fbem-10372	168	10	120	120	NUM
fbem-10372	168	11	.	.	PUNCT
fbem-10372	169	1	[	[	X
fbem-10372	169	2	6	6	NUM
fbem-10372	169	3	]	]	X
fbem-10372	169	4	yue	yue	PROPN
fbem-10372	169	5	lv	lv	PROPN
fbem-10372	169	6	,	,	PUNCT
fbem-10372	169	7	yanxi	yanxi	PROPN
fbem-10372	169	8	huang	huang	PROPN
fbem-10372	169	9	,	,	PUNCT
fbem-10372	169	10	yongbing	yongbing	PROPN
fbem-10372	169	11	chen	chen	PROPN
fbem-10372	169	12	.	.	PUNCT
fbem-10372	170	1	productivity	productivity	NOUN
fbem-10372	170	2	effects	effect	NOUN
fbem-10372	170	3	of	of	ADP
fbem-10372	170	4	global	global	ADJ
fbem-10372	170	5	value	value	NOUN
fbem-10372	170	6	chain	chain	NOUN
fbem-10372	170	7	integration	integration	NOUN
fbem-10372	170	8	:	:	PUNCT
fbem-10372	170	9	analysis	analysis	NOUN
fbem-10372	170	10	of	of	ADP
fbem-10372	170	11	influences	influence	NOUN
fbem-10372	170	12	and	and	CCONJ
fbem-10372	170	13	mechanisms	mechanism	NOUN
fbem-10372	171	1	[	[	X
fbem-10372	171	2	j	j	X
fbem-10372	171	3	]	]	X
fbem-10372	171	4	.	.	PUNCT
fbem-10372	172	1	world	world	NOUN
fbem-10372	172	2	economy	economy	NOUN
fbem-10372	172	3	,	,	PUNCT
fbem-10372	172	4	2017	2017	NUM
fbem-10372	172	5	,	,	PUNCT
fbem-10372	172	6	40(07	40(07	NUM
fbem-10372	172	7	):	):	PUNCT
fbem-10372	172	8	28	28	NUM
fbem-10372	172	9	-	-	SYM
fbem-10372	172	10	51	51	NUM
fbem-10372	172	11	.	.	PUNCT
fbem-10372	173	1	[	[	X
fbem-10372	173	2	7	7	X
fbem-10372	173	3	]	]	X
fbem-10372	173	4	kaiguo	kaiguo	PROPN
fbem-10372	173	5	zhou	zhou	PROPN
fbem-10372	173	6	,	,	PUNCT
fbem-10372	173	7	qianwei	qianwei	PROPN
fbem-10372	173	8	ying	ying	PROPN
fbem-10372	173	9	,	,	PUNCT
fbem-10372	173	10	chang	chang	PROPN
fbem-10372	173	11	zhong	zhong	PROPN
fbem-10372	173	12	.	.	PROPN
fbem-10372	174	1	can	can	AUX
fbem-10372	174	2	media	media	PROPN
fbem-10372	174	3	supervision	supervision	NOUN
fbem-10372	174	4	serve	serve	VERB
fbem-10372	174	5	as	as	ADP
fbem-10372	174	6	external	external	ADJ
fbem-10372	174	7	governance	governance	NOUN
fbem-10372	174	8	?	?	PUNCT
fbem-10372	175	1	evidence	evidence	NOUN
fbem-10372	175	2	from	from	ADP
fbem-10372	175	3	violations	violation	NOUN
fbem-10372	175	4	of	of	ADP
fbem-10372	175	5	chinese	chinese	ADJ
fbem-10372	175	6	listed	list	VERB
fbem-10372	175	7	companies	company	NOUN
fbem-10372	175	8	[	[	X
fbem-10372	175	9	j	j	X
fbem-10372	175	10	]	]	X
fbem-10372	175	11	.	.	PUNCT
fbem-10372	176	1	financial	financial	ADJ
fbem-10372	176	2	research	research	NOUN
fbem-10372	176	3	,	,	PUNCT
fbem-10372	176	4	2016(06	2016(06	NUM
fbem-10372	176	5	):	):	PUNCT
fbem-10372	176	6	193	193	NUM
fbem-10372	176	7	-	-	SYM
fbem-10372	176	8	206	206	NUM
fbem-10372	176	9	.	.	PUNCT
fbem-10372	177	1	[	[	X
fbem-10372	177	2	8	8	NUM
fbem-10372	177	3	]	]	PUNCT
fbem-10372	177	4	jianping	jianpe	VERB
fbem-10372	177	5	zhang	zhang	PROPN
fbem-10372	177	6	,	,	PUNCT
fbem-10372	177	7	li	li	PROPN
fbem-10372	177	8	qiu	qiu	PROPN
fbem-10372	177	9	,	,	PUNCT
fbem-10372	177	10	ziya	ziya	PROPN
fbem-10372	177	11	liu	liu	PROPN
fbem-10372	177	12	.	.	PUNCT
fbem-10372	177	13	ownership	ownership	NOUN
fbem-10372	177	14	structure	structure	NOUN
fbem-10372	177	15	,	,	PUNCT
fbem-10372	177	16	agency	agency	NOUN
fbem-10372	177	17	costs	cost	NOUN
fbem-10372	177	18	,	,	PUNCT
fbem-10372	177	19	and	and	CCONJ
fbem-10372	177	20	corporate	corporate	ADJ
fbem-10372	177	21	performance	performance	NOUN
fbem-10372	178	1	[	[	X
fbem-10372	178	2	j	j	X
fbem-10372	178	3	]	]	X
fbem-10372	178	4	.	.	PUNCT
fbem-10372	179	1	technology	technology	NOUN
fbem-10372	179	2	,	,	PUNCT
fbem-10372	179	3	economics	economic	NOUN
fbem-10372	179	4	and	and	CCONJ
fbem-10372	179	5	management	management	NOUN
fbem-10372	179	6	research	research	NOUN
fbem-10372	179	7	,	,	PUNCT
fbem-10372	179	8	2016(05	2016(05	NUM
fbem-10372	179	9	):	):	PUNCT
fbem-10372	179	10	44	44	NUM
fbem-10372	179	11	-	-	SYM
fbem-10372	179	12	49	49	NUM
fbem-10372	179	13	.	.	PUNCT
fbem-10372	180	1	[	[	X
fbem-10372	180	2	9	9	NUM
fbem-10372	180	3	]	]	PUNCT
fbem-10372	180	4	yunhe	yunhe	PROPN
fbem-10372	180	5	li	li	PROPN
fbem-10372	180	6	,	,	PUNCT
fbem-10372	180	7	zhan	zhan	PROPN
fbem-10372	180	8	li	li	PROPN
fbem-10372	180	9	.	.	PROPN
fbem-10372	180	10	managerial	managerial	ADJ
fbem-10372	180	11	agency	agency	NOUN
fbem-10372	180	12	behavior	behavior	NOUN
fbem-10372	180	13	,	,	PUNCT
fbem-10372	180	14	corporate	corporate	ADJ
fbem-10372	180	15	overinvestment	overinvestment	NOUN
fbem-10372	180	16	,	,	PUNCT
fbem-10372	180	17	and	and	CCONJ
fbem-10372	180	18	corporate	corporate	ADJ
fbem-10372	180	19	governance	governance	NOUN
fbem-10372	180	20	:	:	PUNCT
fbem-10372	180	21	an	an	DET
fbem-10372	180	22	empirical	empirical	ADJ
fbem-10372	180	23	study	study	NOUN
fbem-10372	180	24	based	base	VERB
fbem-10372	180	25	on	on	ADP
fbem-10372	180	26	the	the	DET
fbem-10372	180	27	perspective	perspective	NOUN
fbem-10372	180	28	of	of	ADP
fbem-10372	180	29	corporate	corporate	ADJ
fbem-10372	180	30	life	life	NOUN
fbem-10372	180	31	cycle	cycle	NOUN
fbem-10372	181	1	[	[	X
fbem-10372	181	2	j	j	X
fbem-10372	181	3	]	]	X
fbem-10372	181	4	.	.	PUNCT
fbem-10372	182	1	management	management	PROPN
fbem-10372	182	2	review	review	PROPN
fbem-10372	182	3	,	,	PUNCT
fbem-10372	182	4	2012	2012	NUM
fbem-10372	182	5	,	,	PUNCT
fbem-10372	182	6	24(07	24(07	NUM
fbem-10372	182	7	):	):	PUNCT
fbem-10372	182	8	117	117	NUM
fbem-10372	182	9	-	-	SYM
fbem-10372	182	10	131	131	NUM
fbem-10372	182	11	.	.	PUNCT
fbem-10372	183	1	[	[	X
fbem-10372	183	2	10	10	NUM
fbem-10372	183	3	]	]	X
fbem-10372	183	4	rani	rani	PROPN
fbem-10372	183	5	s	s	PROPN
fbem-10372	183	6	,	,	PUNCT
fbem-10372	183	7	lal	lal	PROPN
fbem-10372	183	8	c	c	AUX
fbem-10372	183	9	,	,	PUNCT
fbem-10372	183	10	kait	kait	PROPN
fbem-10372	183	11	r.	r.	PROPN
fbem-10372	183	12	koszty	koszty	PROPN
fbem-10372	183	13	sprzedaży	sprzedaży	PROPN
fbem-10372	183	14	i	i	PRON
fbem-10372	183	15	rozpiętość	rozpiętość	VERB
fbem-10372	183	16	cenowa	cenowa	PROPN
fbem-10372	183	17	wybranych	wybranych	VERB
fbem-10372	183	18	upraw	upraw	PROPN
fbem-10372	183	19	owoców	owoców	PROPN
fbem-10372	183	20	w	w	PROPN
fbem-10372	183	21	stanie	stanie	PROPN
fbem-10372	183	22	haryana	haryana	PROPN
fbem-10372	183	23	:	:	PUNCT
fbem-10372	183	24	analiza	analiza	NOUN
fbem-10372	183	25	wybranych	wybranych	VERB
fbem-10372	183	26	dystryktów[j	dystryktów[j	PROPN
fbem-10372	183	27	]	]	PUNCT
fbem-10372	183	28	.	.	PUNCT
fbem-10372	184	1	economic	economic	ADJ
fbem-10372	184	2	and	and	CCONJ
fbem-10372	184	3	regional	regional	ADJ
fbem-10372	184	4	studies	study	NOUN
fbem-10372	184	5	,	,	PUNCT
fbem-10372	184	6	2022	2022	NUM
fbem-10372	184	7	,	,	PUNCT
fbem-10372	184	8	15(4	15(4	NUM
fbem-10372	184	9	):	):	PUNCT
fbem-10372	184	10	533	533	NUM
fbem-10372	184	11	-	-	SYM
fbem-10372	184	12	547	547	NUM
fbem-10372	184	13	.	.	PUNCT
fbem-10372	185	1	[	[	X
fbem-10372	185	2	11	11	NUM
fbem-10372	185	3	]	]	X
fbem-10372	185	4	kumar	kumar	PROPN
fbem-10372	185	5	m	m	PROPN
fbem-10372	185	6	,	,	PUNCT
fbem-10372	185	7	sehgal	sehgal	PROPN
fbem-10372	185	8	s.	s.	PROPN
fbem-10372	185	9	analysis	analysis	NOUN
fbem-10372	185	10	of	of	ADP
fbem-10372	185	11	marketing	marketing	NOUN
fbem-10372	185	12	channels	channel	NOUN
fbem-10372	185	13	and	and	CCONJ
fbem-10372	185	14	marketing	marketing	NOUN
fbem-10372	185	15	efficiency	efficiency	NOUN
fbem-10372	185	16	of	of	ADP
fbem-10372	185	17	apple	apple	NOUN
fbem-10372	185	18	growers	grower	NOUN
fbem-10372	185	19	in	in	ADP
fbem-10372	185	20	kashmir	kashmir	PROPN
fbem-10372	185	21	(	(	PUNCT
fbem-10372	185	22	j&k	j&k	PROPN
fbem-10372	185	23	)	)	PUNCT
fbem-10372	185	24	,	,	PUNCT
fbem-10372	185	25	india[j	india[j	PROPN
fbem-10372	185	26	]	]	PUNCT
fbem-10372	185	27	.	.	PUNCT
fbem-10372	186	1	south	south	ADJ
fbem-10372	186	2	asian	asian	PROPN
fbem-10372	186	3	journal	journal	PROPN
fbem-10372	186	4	of	of	ADP
fbem-10372	186	5	social	social	ADJ
fbem-10372	186	6	studies	study	NOUN
fbem-10372	186	7	and	and	CCONJ
fbem-10372	186	8	economics	economic	NOUN
fbem-10372	186	9	,	,	PUNCT
fbem-10372	186	10	2022	2022	NUM
fbem-10372	186	11	,	,	PUNCT
fbem-10372	186	12	16(1	16(1	NUM
fbem-10372	186	13	):	):	PUNCT
fbem-10372	186	14	16	16	NUM
fbem-10372	186	15	-	-	SYM
fbem-10372	186	16	23	23	NUM
fbem-10372	186	17	.	.	PUNCT
fbem-10372	187	1	[	[	X
fbem-10372	187	2	12	12	NUM
fbem-10372	187	3	]	]	PUNCT
fbem-10372	187	4	thuy	thuy	PROPN
fbem-10372	187	5	t	t	PROPN
fbem-10372	187	6	t	t	PROPN
fbem-10372	187	7	t	t	PROPN
fbem-10372	187	8	,	,	PUNCT
fbem-10372	187	9	klymova	klymova	PROPN
fbem-10372	187	10	e.	e.	PROPN
fbem-10372	187	11	assessment	assessment	NOUN
fbem-10372	187	12	of	of	ADP
fbem-10372	187	13	marketing	marketing	NOUN
fbem-10372	187	14	costs	cost	NOUN
fbem-10372	187	15	on	on	ADP
fbem-10372	187	16	the	the	DET
fbem-10372	187	17	example	example	NOUN
fbem-10372	187	18	of	of	ADP
fbem-10372	187	19	apple	apple	NOUN
fbem-10372	187	20	and	and	CCONJ
fbem-10372	187	21	samsung	samsung	PROPN
fbem-10372	187	22	companies[j	companies[j	PROPN
fbem-10372	187	23	]	]	PUNCT
fbem-10372	187	24	.	.	PUNCT
fbem-10372	188	1	technology	technology	NOUN
fbem-10372	188	2	audit	audit	NOUN
fbem-10372	188	3	and	and	CCONJ
fbem-10372	188	4	production	production	NOUN
fbem-10372	188	5	reserves	reserve	NOUN
fbem-10372	188	6	,	,	PUNCT
fbem-10372	188	7	2022	2022	NUM
fbem-10372	188	8	,	,	PUNCT
fbem-10372	188	9	4(4	4(4	NUM
fbem-10372	188	10	(	(	PUNCT
fbem-10372	188	11	66	66	NUM
fbem-10372	188	12	)	)	PUNCT
fbem-10372	188	13	):	):	PUNCT
fbem-10372	188	14	14	14	NUM
fbem-10372	188	15	-	-	SYM
fbem-10372	188	16	17	17	NUM
fbem-10372	188	17	.	.	PUNCT
fbem-10372	189	1	[	[	X
fbem-10372	189	2	13	13	NUM
fbem-10372	189	3	]	]	PUNCT
fbem-10372	189	4	bhargav	bhargav	NOUN
fbem-10372	189	5	p	p	PROPN
fbem-10372	189	6	s	s	PROPN
fbem-10372	189	7	,	,	PUNCT
fbem-10372	189	8	maurya	maurya	PROPN
fbem-10372	189	9	m	m	VERB
fbem-10372	189	10	k	k	PROPN
fbem-10372	189	11	,	,	PUNCT
fbem-10372	189	12	paul	paul	PROPN
fbem-10372	189	13	a	a	PROPN
fbem-10372	189	14	,	,	PUNCT
fbem-10372	189	15	et	et	PROPN
fbem-10372	189	16	al	al	PROPN
fbem-10372	189	17	.	.	PUNCT
fbem-10372	190	1	an	an	DET
fbem-10372	190	2	economic	economic	ADJ
fbem-10372	190	3	analysis	analysis	NOUN
fbem-10372	190	4	of	of	ADP
fbem-10372	190	5	marketing	marketing	NOUN
fbem-10372	190	6	costs	cost	NOUN
fbem-10372	190	7	,	,	PUNCT
fbem-10372	190	8	price	price	NOUN
fbem-10372	190	9	spread	spread	NOUN
fbem-10372	190	10	and	and	CCONJ
fbem-10372	190	11	marketing	marketing	NOUN
fbem-10372	190	12	efficiency	efficiency	NOUN
fbem-10372	190	13	of	of	ADP
fbem-10372	190	14	milk	milk	NOUN
fbem-10372	190	15	in	in	ADP
fbem-10372	190	16	the	the	DET
fbem-10372	190	17	visakhapatnam	visakhapatnam	PROPN
fbem-10372	190	18	district	district	PROPN
fbem-10372	190	19	of	of	ADP
fbem-10372	190	20	andhra	andhra	PROPN
fbem-10372	190	21	pradesh	pradesh	PROPN
fbem-10372	190	22	,	,	PUNCT
fbem-10372	190	23	india[j	india[j	PROPN
fbem-10372	190	24	]	]	PUNCT
fbem-10372	190	25	.	.	PUNCT
fbem-10372	191	1	asian	asian	ADJ
fbem-10372	191	2	journal	journal	PROPN
fbem-10372	191	3	of	of	ADP
fbem-10372	191	4	agricultural	agricultural	ADJ
fbem-10372	191	5	extension	extension	NOUN
fbem-10372	191	6	,	,	PUNCT
fbem-10372	191	7	economics	economic	NOUN
fbem-10372	191	8	&	&	CCONJ
fbem-10372	191	9	sociology	sociology	NOUN
fbem-10372	191	10	,	,	PUNCT
fbem-10372	191	11	2022	2022	NUM
fbem-10372	191	12	,	,	PUNCT
fbem-10372	191	13	40(10	40(10	NOUN
fbem-10372	191	14	):	):	PUNCT
fbem-10372	191	15	307	307	NUM
fbem-10372	191	16	-	-	SYM
fbem-10372	191	17	317	317	NUM
fbem-10372	191	18	.	.	PUNCT