id	sid	tid	token	lemma	pos
fbem-10523	1	1	frontiers	frontier	NOUN
fbem-10523	1	2	in	in	ADP
fbem-10523	1	3	business	business	NOUN
fbem-10523	1	4	,	,	PUNCT
fbem-10523	1	5	economics	economic	NOUN
fbem-10523	1	6	and	and	CCONJ
fbem-10523	1	7	management	management	NOUN
fbem-10523	1	8	issn	issn	PROPN
fbem-10523	1	9	:	:	PUNCT
fbem-10523	1	10	2766	2766	NUM
fbem-10523	1	11	-	-	PUNCT
fbem-10523	1	12	824x	824x	NUM
fbem-10523	1	13	|	|	ADJ
fbem-10523	1	14	vol	vol	NOUN
fbem-10523	1	15	.	.	PROPN
fbem-10523	2	1	10	10	NUM
fbem-10523	2	2	,	,	PUNCT
fbem-10523	2	3	no	no	INTJ
fbem-10523	2	4	.	.	NOUN
fbem-10523	2	5	2	2	NUM
fbem-10523	2	6	,	,	PUNCT
fbem-10523	2	7	2023	2023	NUM
fbem-10523	2	8	54	54	NUM
fbem-10523	2	9	risk	risk	NOUN
fbem-10523	2	10	analysis	analysis	NOUN
fbem-10523	2	11	and	and	CCONJ
fbem-10523	2	12	preventive	preventive	ADJ
fbem-10523	2	13	measures	measure	NOUN
fbem-10523	2	14	of	of	ADP
fbem-10523	2	15	enterprise	enterprise	NOUN
fbem-10523	2	16	merger	merger	NOUN
fbem-10523	2	17	and	and	CCONJ
fbem-10523	2	18	acquisition	acquisition	NOUN
fbem-10523	2	19	-a	-a	SYM
fbem-10523	2	20	case	case	NOUN
fbem-10523	2	21	study	study	NOUN
fbem-10523	2	22	of	of	ADP
fbem-10523	2	23	suning	sun	VERB
fbem-10523	2	24	tesco	tesco	PROPN
fbem-10523	2	25	's	's	PART
fbem-10523	2	26	merger	merger	NOUN
fbem-10523	2	27	and	and	CCONJ
fbem-10523	2	28	acquisition	acquisition	NOUN
fbem-10523	2	29	of	of	ADP
fbem-10523	2	30	carrefour	carrefour	NOUN
fbem-10523	2	31	pei	pei	PROPN
fbem-10523	2	32	wu	wu	PROPN
fbem-10523	2	33	,	,	PUNCT
fbem-10523	2	34	bulei	bulei	VERB
fbem-10523	2	35	yu	yu	PROPN
fbem-10523	2	36	*	*	PROPN
fbem-10523	2	37	school	school	NOUN
fbem-10523	2	38	of	of	ADP
fbem-10523	2	39	management	management	NOUN
fbem-10523	2	40	,	,	PUNCT
fbem-10523	2	41	sichuan	sichuan	PROPN
fbem-10523	2	42	university	university	PROPN
fbem-10523	2	43	of	of	ADP
fbem-10523	2	44	science	science	PROPN
fbem-10523	2	45	&	&	CCONJ
fbem-10523	2	46	engineering	engineering	PROPN
fbem-10523	2	47	,	,	PUNCT
fbem-10523	2	48	zigong	zigong	PROPN
fbem-10523	2	49	643000	643000	NUM
fbem-10523	2	50	,	,	PUNCT
fbem-10523	2	51	china	china	PROPN
fbem-10523	2	52	*	*	PUNCT
fbem-10523	2	53	corresponding	correspond	VERB
fbem-10523	2	54	author	author	NOUN
fbem-10523	2	55	:	:	PUNCT
fbem-10523	2	56	bulei	bulei	PROPN
fbem-10523	2	57	yu	yu	PROPN
fbem-10523	2	58	(	(	PUNCT
fbem-10523	2	59	email	email	NOUN
fbem-10523	2	60	:	:	PUNCT
fbem-10523	2	61	yubulei@126.com	yubulei@126.com	NOUN
fbem-10523	2	62	)	)	PUNCT
fbem-10523	2	63	abstract	abstract	NOUN
fbem-10523	2	64	:	:	PUNCT
fbem-10523	2	65	with	with	ADP
fbem-10523	2	66	the	the	DET
fbem-10523	2	67	rapid	rapid	ADJ
fbem-10523	2	68	development	development	NOUN
fbem-10523	2	69	of	of	ADP
fbem-10523	2	70	the	the	DET
fbem-10523	2	71	"	"	PUNCT
fbem-10523	2	72	internet	internet	NOUN
fbem-10523	2	73	+	+	NOUN
fbem-10523	2	74	"	"	PUNCT
fbem-10523	2	75	economy	economy	NOUN
fbem-10523	2	76	,	,	PUNCT
fbem-10523	2	77	the	the	DET
fbem-10523	2	78	retail	retail	ADJ
fbem-10523	2	79	industry	industry	NOUN
fbem-10523	2	80	began	begin	VERB
fbem-10523	2	81	to	to	PART
fbem-10523	2	82	adjust	adjust	VERB
fbem-10523	2	83	the	the	DET
fbem-10523	2	84	traditional	traditional	ADJ
fbem-10523	2	85	business	business	NOUN
fbem-10523	2	86	model	model	NOUN
fbem-10523	2	87	in	in	ADP
fbem-10523	2	88	line	line	NOUN
fbem-10523	2	89	with	with	ADP
fbem-10523	2	90	the	the	DET
fbem-10523	2	91	development	development	NOUN
fbem-10523	2	92	of	of	ADP
fbem-10523	2	93	the	the	DET
fbem-10523	2	94	times	time	NOUN
fbem-10523	2	95	,	,	PUNCT
fbem-10523	2	96	and	and	CCONJ
fbem-10523	2	97	accelerated	accelerate	VERB
fbem-10523	2	98	the	the	DET
fbem-10523	2	99	deep	deep	ADJ
fbem-10523	2	100	integration	integration	NOUN
fbem-10523	2	101	with	with	ADP
fbem-10523	2	102	the	the	DET
fbem-10523	2	103	internet	internet	NOUN
fbem-10523	2	104	through	through	ADP
fbem-10523	2	105	the	the	DET
fbem-10523	2	106	integration	integration	NOUN
fbem-10523	2	107	of	of	ADP
fbem-10523	2	108	resources	resource	NOUN
fbem-10523	2	109	.	.	PUNCT
fbem-10523	3	1	in	in	ADP
fbem-10523	3	2	this	this	DET
fbem-10523	3	3	context	context	NOUN
fbem-10523	3	4	,	,	PUNCT
fbem-10523	3	5	the	the	DET
fbem-10523	3	6	"	"	PUNCT
fbem-10523	3	7	new	new	ADJ
fbem-10523	3	8	retail	retail	NOUN
fbem-10523	3	9	"	"	PUNCT
fbem-10523	3	10	era	era	NOUN
fbem-10523	3	11	has	have	AUX
fbem-10523	3	12	officially	officially	ADV
fbem-10523	3	13	arrived	arrive	VERB
fbem-10523	3	14	,	,	PUNCT
fbem-10523	3	15	compared	compare	VERB
fbem-10523	3	16	with	with	ADP
fbem-10523	3	17	the	the	DET
fbem-10523	3	18	traditional	traditional	ADJ
fbem-10523	3	19	retail	retail	ADJ
fbem-10523	3	20	industry	industry	NOUN
fbem-10523	3	21	,	,	PUNCT
fbem-10523	3	22	the	the	DET
fbem-10523	3	23	new	new	ADJ
fbem-10523	3	24	retail	retail	ADJ
fbem-10523	3	25	model	model	NOUN
fbem-10523	3	26	through	through	ADP
fbem-10523	3	27	the	the	DET
fbem-10523	3	28	combination	combination	NOUN
fbem-10523	3	29	of	of	ADP
fbem-10523	3	30	online	online	ADJ
fbem-10523	3	31	and	and	CCONJ
fbem-10523	3	32	offline	offline	ADJ
fbem-10523	3	33	services	service	NOUN
fbem-10523	3	34	to	to	PART
fbem-10523	3	35	achieve	achieve	VERB
fbem-10523	3	36	intelligence	intelligence	NOUN
fbem-10523	3	37	,	,	PUNCT
fbem-10523	3	38	precision	precision	NOUN
fbem-10523	3	39	,	,	PUNCT
fbem-10523	3	40	product	product	NOUN
fbem-10523	3	41	quality	quality	NOUN
fbem-10523	3	42	,	,	PUNCT
fbem-10523	3	43	and	and	CCONJ
fbem-10523	3	44	personalized	personalize	VERB
fbem-10523	3	45	,	,	PUNCT
fbem-10523	3	46	retail	retail	ADJ
fbem-10523	3	47	growth	growth	NOUN
fbem-10523	3	48	has	have	AUX
fbem-10523	3	49	become	become	VERB
fbem-10523	3	50	a	a	DET
fbem-10523	3	51	breakthrough	breakthrough	NOUN
fbem-10523	3	52	point	point	NOUN
fbem-10523	3	53	,	,	PUNCT
fbem-10523	3	54	because	because	SCONJ
fbem-10523	3	55	of	of	ADP
fbem-10523	3	56	this	this	DET
fbem-10523	3	57	major	major	ADJ
fbem-10523	3	58	retail	retail	ADJ
fbem-10523	3	59	enterprises	enterprise	NOUN
fbem-10523	3	60	have	have	AUX
fbem-10523	3	61	in	in	ADP
fbem-10523	3	62	the	the	DET
fbem-10523	3	63	new	new	ADJ
fbem-10523	3	64	retail	retail	ADJ
fbem-10523	3	65	format	format	NOUN
fbem-10523	3	66	of	of	ADP
fbem-10523	3	67	mergers	merger	NOUN
fbem-10523	3	68	and	and	CCONJ
fbem-10523	3	69	acquisitions	acquisition	NOUN
fbem-10523	3	70	.	.	PUNCT
fbem-10523	4	1	based	base	VERB
fbem-10523	4	2	on	on	ADP
fbem-10523	4	3	this	this	DET
fbem-10523	4	4	background	background	NOUN
fbem-10523	4	5	,	,	PUNCT
fbem-10523	4	6	this	this	DET
fbem-10523	4	7	paper	paper	NOUN
fbem-10523	4	8	takes	take	VERB
fbem-10523	4	9	suning	sun	VERB
fbem-10523	4	10	tesco	tesco	PROPN
fbem-10523	4	11	's	's	PART
fbem-10523	4	12	cross	cross	ADJ
fbem-10523	4	13	-	-	ADJ
fbem-10523	4	14	border	border	ADJ
fbem-10523	4	15	merger	merger	NOUN
fbem-10523	4	16	and	and	CCONJ
fbem-10523	4	17	acquisition	acquisition	NOUN
fbem-10523	4	18	of	of	ADP
fbem-10523	4	19	carrefour	carrefour	NOUN
fbem-10523	4	20	as	as	ADP
fbem-10523	4	21	an	an	DET
fbem-10523	4	22	example	example	NOUN
fbem-10523	4	23	,	,	PUNCT
fbem-10523	4	24	and	and	CCONJ
fbem-10523	4	25	combines	combine	VERB
fbem-10523	4	26	the	the	DET
fbem-10523	4	27	historical	historical	ADJ
fbem-10523	4	28	background	background	NOUN
fbem-10523	4	29	of	of	ADP
fbem-10523	4	30	new	new	ADJ
fbem-10523	4	31	retail	retail	NOUN
fbem-10523	4	32	to	to	PART
fbem-10523	4	33	study	study	VERB
fbem-10523	4	34	its	its	PRON
fbem-10523	4	35	merger	merger	NOUN
fbem-10523	4	36	motivation	motivation	NOUN
fbem-10523	4	37	,	,	PUNCT
fbem-10523	4	38	merger	merger	NOUN
fbem-10523	4	39	risk	risk	NOUN
fbem-10523	4	40	and	and	CCONJ
fbem-10523	4	41	put	put	VERB
fbem-10523	4	42	forward	forward	ADV
fbem-10523	4	43	relevant	relevant	ADJ
fbem-10523	4	44	suggestions	suggestion	NOUN
fbem-10523	4	45	.	.	PUNCT
fbem-10523	5	1	by	by	ADP
fbem-10523	5	2	summarizing	summarize	VERB
fbem-10523	5	3	the	the	DET
fbem-10523	5	4	problems	problem	NOUN
fbem-10523	5	5	existing	exist	VERB
fbem-10523	5	6	in	in	ADP
fbem-10523	5	7	the	the	DET
fbem-10523	5	8	process	process	NOUN
fbem-10523	5	9	of	of	ADP
fbem-10523	5	10	enterprise	enterprise	NOUN
fbem-10523	5	11	merger	merger	NOUN
fbem-10523	5	12	and	and	CCONJ
fbem-10523	5	13	acquisition	acquisition	NOUN
fbem-10523	5	14	and	and	CCONJ
fbem-10523	5	15	merger	merger	NOUN
fbem-10523	5	16	experience	experience	NOUN
fbem-10523	5	17	,	,	PUNCT
fbem-10523	5	18	the	the	DET
fbem-10523	5	19	study	study	NOUN
fbem-10523	5	20	has	have	VERB
fbem-10523	5	21	certain	certain	ADJ
fbem-10523	5	22	objective	objective	ADJ
fbem-10523	5	23	and	and	CCONJ
fbem-10523	5	24	realistic	realistic	ADJ
fbem-10523	5	25	significance	significance	NOUN
fbem-10523	5	26	.	.	PUNCT
fbem-10523	6	1	keywords	keyword	NOUN
fbem-10523	6	2	:	:	PUNCT
fbem-10523	6	3	merger	merger	NOUN
fbem-10523	6	4	and	and	CCONJ
fbem-10523	6	5	acquisition	acquisition	NOUN
fbem-10523	6	6	,	,	PUNCT
fbem-10523	6	7	m	m	PROPN
fbem-10523	6	8	&	&	CCONJ
fbem-10523	6	9	a	a	DET
fbem-10523	6	10	motivation	motivation	NOUN
fbem-10523	6	11	,	,	PUNCT
fbem-10523	6	12	m	m	PROPN
fbem-10523	6	13	&	&	CCONJ
fbem-10523	6	14	a	a	DET
fbem-10523	6	15	risk	risk	NOUN
fbem-10523	6	16	,	,	PUNCT
fbem-10523	6	17	new	new	ADJ
fbem-10523	6	18	retail	retail	NOUN
fbem-10523	6	19	.	.	PUNCT
fbem-10523	7	1	1	1	X
fbem-10523	7	2	.	.	X
fbem-10523	7	3	introduction	introduction	NOUN
fbem-10523	7	4	with	with	ADP
fbem-10523	7	5	the	the	DET
fbem-10523	7	6	rapid	rapid	ADJ
fbem-10523	7	7	development	development	NOUN
fbem-10523	7	8	of	of	ADP
fbem-10523	7	9	the	the	DET
fbem-10523	7	10	internet	internet	NOUN
fbem-10523	7	11	,	,	PUNCT
fbem-10523	7	12	the	the	DET
fbem-10523	7	13	development	development	NOUN
fbem-10523	7	14	of	of	ADP
fbem-10523	7	15	domestic	domestic	ADJ
fbem-10523	7	16	e	e	PROPN
fbem-10523	7	17	-	-	NOUN
fbem-10523	7	18	commerce	commerce	NOUN
fbem-10523	7	19	industry	industry	NOUN
fbem-10523	7	20	has	have	AUX
fbem-10523	7	21	been	be	AUX
fbem-10523	7	22	particularly	particularly	ADV
fbem-10523	7	23	obvious	obvious	ADJ
fbem-10523	7	24	in	in	ADP
fbem-10523	7	25	recent	recent	ADJ
fbem-10523	7	26	years	year	NOUN
fbem-10523	7	27	.	.	PUNCT
fbem-10523	8	1	however	however	ADV
fbem-10523	8	2	,	,	PUNCT
fbem-10523	8	3	behind	behind	ADP
fbem-10523	8	4	the	the	DET
fbem-10523	8	5	rapid	rapid	ADJ
fbem-10523	8	6	growth	growth	NOUN
fbem-10523	8	7	of	of	ADP
fbem-10523	8	8	the	the	DET
fbem-10523	8	9	e	e	PROPN
fbem-10523	8	10	-	-	PROPN
fbem-10523	8	11	commerce	commerce	NOUN
fbem-10523	8	12	industry	industry	NOUN
fbem-10523	8	13	,	,	PUNCT
fbem-10523	8	14	new	new	ADJ
fbem-10523	8	15	opportunities	opportunity	NOUN
fbem-10523	8	16	for	for	ADP
fbem-10523	8	17	offline	offline	ADJ
fbem-10523	8	18	retail	retail	NOUN
fbem-10523	8	19	are	be	AUX
fbem-10523	8	20	beginning	begin	VERB
fbem-10523	8	21	to	to	PART
fbem-10523	8	22	emerge	emerge	VERB
fbem-10523	8	23	.	.	PUNCT
fbem-10523	9	1	as	as	SCONJ
fbem-10523	9	2	the	the	DET
fbem-10523	9	3	profit	profit	NOUN
fbem-10523	9	4	margin	margin	NOUN
fbem-10523	9	5	of	of	ADP
fbem-10523	9	6	e	e	NOUN
fbem-10523	9	7	-	-	NOUN
fbem-10523	9	8	commerce	commerce	NOUN
fbem-10523	9	9	is	be	AUX
fbem-10523	9	10	getting	get	VERB
fbem-10523	9	11	smaller	small	ADJ
fbem-10523	9	12	and	and	CCONJ
fbem-10523	9	13	smaller	small	ADJ
fbem-10523	9	14	,	,	PUNCT
fbem-10523	9	15	on	on	ADP
fbem-10523	9	16	the	the	DET
fbem-10523	9	17	other	other	ADJ
fbem-10523	9	18	hand	hand	NOUN
fbem-10523	9	19	,	,	PUNCT
fbem-10523	9	20	the	the	DET
fbem-10523	9	21	traditional	traditional	ADJ
fbem-10523	9	22	offline	offline	ADJ
fbem-10523	9	23	physical	physical	ADJ
fbem-10523	9	24	retail	retail	ADJ
fbem-10523	9	25	business	business	NOUN
fbem-10523	9	26	is	be	AUX
fbem-10523	9	27	in	in	ADP
fbem-10523	9	28	difficulties	difficulty	NOUN
fbem-10523	9	29	(	(	PUNCT
fbem-10523	9	30	zhang	zhang	PROPN
fbem-10523	9	31	xiaoqing	xiaoqing	PROPN
fbem-10523	9	32	,	,	PUNCT
fbem-10523	9	33	2018)[1	2018)[1	PROPN
fbem-10523	9	34	]	]	PUNCT
fbem-10523	9	35	,	,	PUNCT
fbem-10523	9	36	thus	thus	ADV
fbem-10523	9	37	the	the	DET
fbem-10523	9	38	concept	concept	NOUN
fbem-10523	9	39	of	of	ADP
fbem-10523	9	40	"	"	PUNCT
fbem-10523	9	41	new	new	ADJ
fbem-10523	9	42	retail	retail	NOUN
fbem-10523	9	43	"	"	PUNCT
fbem-10523	9	44	came	come	VERB
fbem-10523	9	45	into	into	ADP
fbem-10523	9	46	being	being	NOUN
fbem-10523	9	47	.	.	PUNCT
fbem-10523	10	1	in	in	ADP
fbem-10523	10	2	addition	addition	NOUN
fbem-10523	10	3	,	,	PUNCT
fbem-10523	10	4	fang	fang	PROPN
fbem-10523	10	5	jing	jing	PROPN
fbem-10523	10	6	(	(	PUNCT
fbem-10523	10	7	2018	2018	NUM
fbem-10523	10	8	)	)	PUNCT
fbem-10523	10	9	also	also	ADV
fbem-10523	10	10	said	say	VERB
fbem-10523	10	11	that	that	SCONJ
fbem-10523	10	12	the	the	DET
fbem-10523	10	13	diversification	diversification	NOUN
fbem-10523	10	14	of	of	ADP
fbem-10523	10	15	consumer	consumer	NOUN
fbem-10523	10	16	demand	demand	NOUN
fbem-10523	10	17	and	and	CCONJ
fbem-10523	10	18	the	the	DET
fbem-10523	10	19	development	development	NOUN
fbem-10523	10	20	of	of	ADP
fbem-10523	10	21	information	information	NOUN
fbem-10523	10	22	technology	technology	NOUN
fbem-10523	10	23	are	be	AUX
fbem-10523	10	24	also	also	ADV
fbem-10523	10	25	important	important	ADJ
fbem-10523	10	26	reasons	reason	NOUN
fbem-10523	10	27	for	for	ADP
fbem-10523	10	28	the	the	DET
fbem-10523	10	29	formation	formation	NOUN
fbem-10523	10	30	of	of	ADP
fbem-10523	10	31	new	new	ADJ
fbem-10523	10	32	retail[2].with	retail[2].with	NOUN
fbem-10523	10	33	the	the	DET
fbem-10523	10	34	proposal	proposal	NOUN
fbem-10523	10	35	of	of	ADP
fbem-10523	10	36	new	new	ADJ
fbem-10523	10	37	retail	retail	NOUN
fbem-10523	10	38	,	,	PUNCT
fbem-10523	10	39	online	online	ADJ
fbem-10523	10	40	and	and	CCONJ
fbem-10523	10	41	offline	offline	ADJ
fbem-10523	10	42	are	be	AUX
fbem-10523	10	43	no	no	ADV
fbem-10523	10	44	longer	long	ADV
fbem-10523	10	45	two	two	NUM
fbem-10523	10	46	parallel	parallel	ADJ
fbem-10523	10	47	lines	line	NOUN
fbem-10523	10	48	.	.	PUNCT
fbem-10523	11	1	zhao	zhao	NOUN
fbem-10523	11	2	shumei	shumei	PROPN
fbem-10523	11	3	(	(	PUNCT
fbem-10523	11	4	2017	2017	NUM
fbem-10523	11	5	)	)	PUNCT
fbem-10523	11	6	believes	believe	VERB
fbem-10523	11	7	that	that	SCONJ
fbem-10523	11	8	"	"	PUNCT
fbem-10523	11	9	new	new	ADJ
fbem-10523	11	10	retail	retail	NOUN
fbem-10523	11	11	"	"	PUNCT
fbem-10523	11	12	is	be	AUX
fbem-10523	11	13	a	a	DET
fbem-10523	11	14	comprehensive	comprehensive	ADJ
fbem-10523	11	15	reform	reform	NOUN
fbem-10523	11	16	of	of	ADP
fbem-10523	11	17	traditional	traditional	ADJ
fbem-10523	11	18	retail	retail	ADJ
fbem-10523	11	19	management	management	NOUN
fbem-10523	11	20	mode	mode	NOUN
fbem-10523	11	21	by	by	ADP
fbem-10523	11	22	modern	modern	ADJ
fbem-10523	11	23	enterprises	enterprise	NOUN
fbem-10523	11	24	through	through	ADP
fbem-10523	11	25	the	the	DET
fbem-10523	11	26	application	application	NOUN
fbem-10523	11	27	of	of	ADP
fbem-10523	11	28	emerging	emerge	VERB
fbem-10523	11	29	information	information	NOUN
fbem-10523	11	30	technology[3	technology[3	PRON
fbem-10523	11	31	]	]	PUNCT
fbem-10523	11	32	.	.	PUNCT
fbem-10523	12	1	wang	wang	PROPN
fbem-10523	12	2	baoyi	baoyi	PROPN
fbem-10523	12	3	(	(	PUNCT
fbem-10523	12	4	2017	2017	NUM
fbem-10523	12	5	)	)	PUNCT
fbem-10523	12	6	believes	believe	VERB
fbem-10523	12	7	that	that	SCONJ
fbem-10523	12	8	"	"	PUNCT
fbem-10523	12	9	new	new	ADJ
fbem-10523	12	10	retail	retail	NOUN
fbem-10523	12	11	"	"	PUNCT
fbem-10523	12	12	is	be	AUX
fbem-10523	12	13	essentially	essentially	ADV
fbem-10523	12	14	a	a	DET
fbem-10523	12	15	comprehensive	comprehensive	ADJ
fbem-10523	12	16	retail	retail	ADJ
fbem-10523	12	17	industry	industry	NOUN
fbem-10523	12	18	that	that	PRON
fbem-10523	12	19	can	can	AUX
fbem-10523	12	20	better	well	ADV
fbem-10523	12	21	meet	meet	VERB
fbem-10523	12	22	people	people	NOUN
fbem-10523	12	23	's	's	PART
fbem-10523	12	24	multiple	multiple	ADJ
fbem-10523	12	25	needs	need	NOUN
fbem-10523	12	26	such	such	ADJ
fbem-10523	12	27	as	as	ADP
fbem-10523	12	28	shopping	shopping	NOUN
fbem-10523	12	29	,	,	PUNCT
fbem-10523	12	30	leisure	leisure	NOUN
fbem-10523	12	31	and	and	CCONJ
fbem-10523	12	32	social	social	ADJ
fbem-10523	12	33	interaction	interaction	NOUN
fbem-10523	12	34	in	in	ADP
fbem-10523	12	35	a	a	DET
fbem-10523	12	36	multi	multi	ADJ
fbem-10523	12	37	-	-	ADJ
fbem-10523	12	38	channel	channel	NOUN
fbem-10523	12	39	way[4].based	way[4].base	VERB
fbem-10523	12	40	on	on	ADP
fbem-10523	12	41	such	such	DET
fbem-10523	12	42	a	a	DET
fbem-10523	12	43	business	business	NOUN
fbem-10523	12	44	background	background	NOUN
fbem-10523	12	45	,	,	PUNCT
fbem-10523	12	46	major	major	ADJ
fbem-10523	12	47	giants	giant	NOUN
fbem-10523	12	48	have	have	AUX
fbem-10523	12	49	begun	begin	VERB
fbem-10523	12	50	to	to	PART
fbem-10523	12	51	layout	layout	VERB
fbem-10523	12	52	the	the	DET
fbem-10523	12	53	offline	offline	ADJ
fbem-10523	12	54	market	market	NOUN
fbem-10523	12	55	through	through	ADP
fbem-10523	12	56	mergers	merger	NOUN
fbem-10523	12	57	and	and	CCONJ
fbem-10523	12	58	acquisitions	acquisition	NOUN
fbem-10523	12	59	,	,	PUNCT
fbem-10523	12	60	but	but	CCONJ
fbem-10523	12	61	there	there	PRON
fbem-10523	12	62	are	be	VERB
fbem-10523	12	63	not	not	PART
fbem-10523	12	64	a	a	DET
fbem-10523	12	65	few	few	ADJ
fbem-10523	12	66	failed	fail	VERB
fbem-10523	12	67	cases	case	NOUN
fbem-10523	12	68	in	in	ADP
fbem-10523	12	69	mergers	merger	NOUN
fbem-10523	12	70	and	and	CCONJ
fbem-10523	12	71	acquisitions	acquisition	NOUN
fbem-10523	12	72	.	.	PUNCT
fbem-10523	13	1	therefore	therefore	ADV
fbem-10523	13	2	,	,	PUNCT
fbem-10523	13	3	this	this	DET
fbem-10523	13	4	paper	paper	NOUN
fbem-10523	13	5	provides	provide	VERB
fbem-10523	13	6	experience	experience	NOUN
fbem-10523	13	7	and	and	CCONJ
fbem-10523	13	8	reference	reference	NOUN
fbem-10523	13	9	suggestions	suggestion	NOUN
fbem-10523	13	10	for	for	ADP
fbem-10523	13	11	other	other	ADJ
fbem-10523	13	12	new	new	ADJ
fbem-10523	13	13	retail	retail	ADJ
fbem-10523	13	14	mergers	merger	NOUN
fbem-10523	13	15	and	and	CCONJ
fbem-10523	13	16	acquisitions	acquisition	NOUN
fbem-10523	13	17	by	by	ADP
fbem-10523	13	18	analyzing	analyze	VERB
fbem-10523	13	19	the	the	DET
fbem-10523	13	20	merger	merger	NOUN
fbem-10523	13	21	risks	risk	NOUN
fbem-10523	13	22	in	in	ADP
fbem-10523	13	23	the	the	DET
fbem-10523	13	24	case	case	NOUN
fbem-10523	13	25	of	of	ADP
fbem-10523	13	26	suning	sun	VERB
fbem-10523	13	27	tesco	tesco	PROPN
fbem-10523	13	28	's	's	PART
fbem-10523	13	29	merger	merger	NOUN
fbem-10523	13	30	and	and	CCONJ
fbem-10523	13	31	acquisition	acquisition	NOUN
fbem-10523	13	32	of	of	ADP
fbem-10523	13	33	carrefour	carrefour	NOUN
fbem-10523	13	34	.	.	PROPN
fbem-10523	14	1	2	2	NUM
fbem-10523	14	2	.	.	NOUN
fbem-10523	14	3	relevant	relevant	ADJ
fbem-10523	14	4	overview	overview	NOUN
fbem-10523	14	5	2.1	2.1	NUM
fbem-10523	14	6	.	.	PUNCT
fbem-10523	15	1	research	research	NOUN
fbem-10523	15	2	on	on	ADP
fbem-10523	15	3	the	the	DET
fbem-10523	15	4	motivation	motivation	NOUN
fbem-10523	15	5	of	of	ADP
fbem-10523	15	6	merger	merger	NOUN
fbem-10523	15	7	and	and	CCONJ
fbem-10523	15	8	acquisition	acquisition	NOUN
fbem-10523	15	9	wang	wang	PROPN
fbem-10523	15	10	ruiyu	ruiyu	PROPN
fbem-10523	15	11	(	(	PUNCT
fbem-10523	15	12	2018	2018	NUM
fbem-10523	15	13	)	)	PUNCT
fbem-10523	15	14	studied	study	VERB
fbem-10523	15	15	the	the	DET
fbem-10523	15	16	evolution	evolution	NOUN
fbem-10523	15	17	process	process	NOUN
fbem-10523	15	18	of	of	ADP
fbem-10523	15	19	the	the	DET
fbem-10523	15	20	home	home	NOUN
fbem-10523	15	21	appliance	appliance	NOUN
fbem-10523	15	22	industry	industry	NOUN
fbem-10523	15	23	and	and	CCONJ
fbem-10523	15	24	concluded	conclude	VERB
fbem-10523	15	25	that	that	SCONJ
fbem-10523	15	26	when	when	SCONJ
fbem-10523	15	27	the	the	DET
fbem-10523	15	28	industry	industry	NOUN
fbem-10523	15	29	forms	form	VERB
fbem-10523	15	30	scale	scale	NOUN
fbem-10523	15	31	,	,	PUNCT
fbem-10523	15	32	the	the	DET
fbem-10523	15	33	motivation	motivation	NOUN
fbem-10523	15	34	for	for	ADP
fbem-10523	15	35	mergers	merger	NOUN
fbem-10523	15	36	and	and	CCONJ
fbem-10523	15	37	acquisitions	acquisition	NOUN
fbem-10523	15	38	will	will	AUX
fbem-10523	15	39	shift	shift	VERB
fbem-10523	15	40	to	to	ADP
fbem-10523	15	41	improving	improve	VERB
fbem-10523	15	42	its	its	PRON
fbem-10523	15	43	core	core	NOUN
fbem-10523	15	44	competitiveness	competitiveness	NOUN
fbem-10523	15	45	and	and	CCONJ
fbem-10523	15	46	expanding	expand	VERB
fbem-10523	15	47	the	the	DET
fbem-10523	15	48	market	market	NOUN
fbem-10523	15	49	scale[5].mitchell	scale[5].mitchell	PROPN
fbem-10523	15	50	and	and	CCONJ
fbem-10523	15	51	mulherin	mulherin	ADJ
fbem-10523	15	52	(	(	PUNCT
fbem-10523	15	53	1996	1996	NUM
fbem-10523	15	54	)	)	PUNCT
fbem-10523	15	55	believed	believe	VERB
fbem-10523	15	56	that	that	SCONJ
fbem-10523	15	57	mergers	merger	NOUN
fbem-10523	15	58	and	and	CCONJ
fbem-10523	15	59	acquisitions	acquisition	NOUN
fbem-10523	15	60	were	be	AUX
fbem-10523	15	61	caused	cause	VERB
fbem-10523	15	62	by	by	ADP
fbem-10523	15	63	some	some	DET
fbem-10523	15	64	external	external	ADJ
fbem-10523	15	65	factors	factor	NOUN
fbem-10523	15	66	,	,	PUNCT
fbem-10523	15	67	such	such	ADJ
fbem-10523	15	68	as	as	ADP
fbem-10523	15	69	technological	technological	ADJ
fbem-10523	15	70	innovation	innovation	NOUN
fbem-10523	15	71	,	,	PUNCT
fbem-10523	15	72	the	the	DET
fbem-10523	15	73	development	development	NOUN
fbem-10523	15	74	of	of	ADP
fbem-10523	15	75	economic	economic	ADJ
fbem-10523	15	76	globalization	globalization	NOUN
fbem-10523	15	77	,	,	PUNCT
fbem-10523	15	78	and	and	CCONJ
fbem-10523	15	79	the	the	DET
fbem-10523	15	80	tightening	tightening	NOUN
fbem-10523	15	81	of	of	ADP
fbem-10523	15	82	conquest	conquest	NOUN
fbem-10523	15	83	supervision	supervision	NOUN
fbem-10523	15	84	policies	policy	NOUN
fbem-10523	16	1	[	[	X
fbem-10523	16	2	6].liu	6].liu	NUM
fbem-10523	16	3	yunguo	yunguo	NOUN
fbem-10523	16	4	.	.	PUNCT
fbem-10523	17	1	(	(	PUNCT
fbem-10523	17	2	2018	2018	NUM
fbem-10523	17	3	)	)	PUNCT
fbem-10523	17	4	made	make	VERB
fbem-10523	17	5	an	an	DET
fbem-10523	17	6	in	in	ADP
fbem-10523	17	7	-	-	PUNCT
fbem-10523	17	8	depth	depth	NOUN
fbem-10523	17	9	analysis	analysis	NOUN
fbem-10523	17	10	of	of	ADP
fbem-10523	17	11	the	the	DET
fbem-10523	17	12	reasons	reason	NOUN
fbem-10523	17	13	for	for	ADP
fbem-10523	17	14	overseas	overseas	ADJ
fbem-10523	17	15	mergers	merger	NOUN
fbem-10523	17	16	and	and	CCONJ
fbem-10523	17	17	acquisitions	acquisition	NOUN
fbem-10523	17	18	in	in	ADP
fbem-10523	17	19	the	the	DET
fbem-10523	17	20	hotel	hotel	NOUN
fbem-10523	17	21	industry	industry	NOUN
fbem-10523	17	22	by	by	ADP
fbem-10523	17	23	using	use	VERB
fbem-10523	17	24	event	event	NOUN
fbem-10523	17	25	research	research	NOUN
fbem-10523	17	26	method	method	NOUN
fbem-10523	17	27	,	,	PUNCT
fbem-10523	17	28	financial	financial	ADJ
fbem-10523	17	29	analysis	analysis	NOUN
fbem-10523	17	30	and	and	CCONJ
fbem-10523	17	31	other	other	ADJ
fbem-10523	17	32	methods	method	NOUN
fbem-10523	17	33	,	,	PUNCT
fbem-10523	17	34	and	and	CCONJ
fbem-10523	17	35	believed	believe	VERB
fbem-10523	17	36	that	that	SCONJ
fbem-10523	17	37	the	the	DET
fbem-10523	17	38	main	main	ADJ
fbem-10523	17	39	reason	reason	NOUN
fbem-10523	17	40	for	for	ADP
fbem-10523	17	41	mergers	merger	NOUN
fbem-10523	17	42	and	and	CCONJ
fbem-10523	17	43	acquisitions	acquisition	NOUN
fbem-10523	17	44	was	be	AUX
fbem-10523	17	45	to	to	PART
fbem-10523	17	46	meet	meet	VERB
fbem-10523	17	47	the	the	DET
fbem-10523	17	48	strategic	strategic	ADJ
fbem-10523	17	49	needs	need	NOUN
fbem-10523	17	50	of	of	ADP
fbem-10523	17	51	the	the	DET
fbem-10523	17	52	global	global	ADJ
fbem-10523	17	53	development	development	NOUN
fbem-10523	17	54	of	of	ADP
fbem-10523	17	55	the	the	DET
fbem-10523	17	56	industry	industry	NOUN
fbem-10523	17	57	,	,	PUNCT
fbem-10523	17	58	cross	cross	NOUN
fbem-10523	17	59	-	-	NOUN
fbem-10523	17	60	business	business	NOUN
fbem-10523	17	61	,	,	PUNCT
fbem-10523	17	62	focus	focus	VERB
fbem-10523	17	63	on	on	ADP
fbem-10523	17	64	the	the	DET
fbem-10523	17	65	long	long	ADJ
fbem-10523	17	66	-	-	PUNCT
fbem-10523	17	67	term	term	NOUN
fbem-10523	17	68	,	,	PUNCT
fbem-10523	17	69	obtain	obtain	VERB
fbem-10523	17	70	synergies	synergy	NOUN
fbem-10523	17	71	in	in	ADP
fbem-10523	17	72	mergers	merger	NOUN
fbem-10523	17	73	and	and	CCONJ
fbem-10523	17	74	acquisitions	acquisition	NOUN
fbem-10523	17	75	,	,	PUNCT
fbem-10523	17	76	and	and	CCONJ
fbem-10523	17	77	increase	increase	VERB
fbem-10523	17	78	market	market	NOUN
fbem-10523	17	79	share[7	share[7	NOUN
fbem-10523	17	80	]	]	X
fbem-10523	17	81	.	.	PUNCT
fbem-10523	18	1	2.2	2.2	NUM
fbem-10523	18	2	.	.	PUNCT
fbem-10523	18	3	risk	risk	NOUN
fbem-10523	18	4	types	type	NOUN
fbem-10523	18	5	and	and	CCONJ
fbem-10523	18	6	causes	cause	NOUN
fbem-10523	18	7	of	of	ADP
fbem-10523	18	8	merger	merger	NOUN
fbem-10523	18	9	and	and	CCONJ
fbem-10523	18	10	acquisition	acquisition	NOUN
fbem-10523	18	11	as	as	ADP
fbem-10523	18	12	for	for	ADP
fbem-10523	18	13	the	the	DET
fbem-10523	18	14	types	type	NOUN
fbem-10523	18	15	of	of	ADP
fbem-10523	18	16	m&a	m&a	PROPN
fbem-10523	18	17	risks	risk	NOUN
fbem-10523	18	18	,	,	PUNCT
fbem-10523	18	19	scholars	scholar	NOUN
fbem-10523	18	20	at	at	ADP
fbem-10523	18	21	home	home	ADV
fbem-10523	18	22	and	and	CCONJ
fbem-10523	18	23	abroad	abroad	ADV
fbem-10523	18	24	have	have	AUX
fbem-10523	18	25	conducted	conduct	VERB
fbem-10523	18	26	in	in	ADP
fbem-10523	18	27	-	-	PUNCT
fbem-10523	18	28	depth	depth	NOUN
fbem-10523	18	29	studies	study	NOUN
fbem-10523	18	30	.	.	PUNCT
fbem-10523	19	1	the	the	DET
fbem-10523	19	2	m&a	m&a	PROPN
fbem-10523	19	3	risks	risk	NOUN
fbem-10523	19	4	of	of	ADP
fbem-10523	19	5	enterprises	enterprise	NOUN
fbem-10523	19	6	run	run	VERB
fbem-10523	19	7	through	through	ADP
fbem-10523	19	8	the	the	DET
fbem-10523	19	9	whole	whole	ADJ
fbem-10523	19	10	m&a	m&a	PROPN
fbem-10523	19	11	process	process	NOUN
fbem-10523	19	12	,	,	PUNCT
fbem-10523	19	13	and	and	CCONJ
fbem-10523	19	14	scholars	scholar	NOUN
fbem-10523	19	15	generally	generally	ADV
fbem-10523	19	16	believe	believe	VERB
fbem-10523	19	17	that	that	SCONJ
fbem-10523	19	18	common	common	ADJ
fbem-10523	19	19	m&a	m&a	PROPN
fbem-10523	19	20	risks	risk	NOUN
fbem-10523	19	21	mainly	mainly	ADV
fbem-10523	19	22	include	include	VERB
fbem-10523	19	23	investment	investment	NOUN
fbem-10523	19	24	decision	decision	NOUN
fbem-10523	19	25	risk	risk	NOUN
fbem-10523	19	26	,	,	PUNCT
fbem-10523	19	27	valuation	valuation	NOUN
fbem-10523	19	28	risk	risk	NOUN
fbem-10523	19	29	,	,	PUNCT
fbem-10523	19	30	financing	financing	NOUN
fbem-10523	19	31	risk	risk	NOUN
fbem-10523	19	32	,	,	PUNCT
fbem-10523	19	33	payment	payment	NOUN
fbem-10523	19	34	risk	risk	NOUN
fbem-10523	19	35	and	and	CCONJ
fbem-10523	19	36	integration	integration	NOUN
fbem-10523	19	37	risk	risk	NOUN
fbem-10523	19	38	.	.	PUNCT
fbem-10523	20	1	zhang	zhang	PROPN
fbem-10523	20	2	chenyan	chenyan	PROPN
fbem-10523	20	3	(	(	PUNCT
fbem-10523	20	4	2019	2019	NUM
fbem-10523	20	5	)	)	PUNCT
fbem-10523	20	6	believes	believe	VERB
fbem-10523	20	7	that	that	SCONJ
fbem-10523	20	8	the	the	DET
fbem-10523	20	9	main	main	ADJ
fbem-10523	20	10	risks	risk	NOUN
fbem-10523	20	11	faced	face	VERB
fbem-10523	20	12	by	by	ADP
fbem-10523	20	13	enterprises	enterprise	NOUN
fbem-10523	20	14	in	in	ADP
fbem-10523	20	15	m&a	m&a	PROPN
fbem-10523	20	16	are	be	AUX
fbem-10523	20	17	the	the	DET
fbem-10523	20	18	selection	selection	NOUN
fbem-10523	20	19	of	of	ADP
fbem-10523	20	20	target	target	NOUN
fbem-10523	20	21	enterprises	enterprise	NOUN
fbem-10523	20	22	before	before	ADP
fbem-10523	20	23	m&a	m&a	PROPN
fbem-10523	20	24	and	and	CCONJ
fbem-10523	20	25	the	the	DET
fbem-10523	20	26	excessive	excessive	ADJ
fbem-10523	20	27	premium	premium	NOUN
fbem-10523	20	28	paid	pay	VERB
fbem-10523	20	29	in	in	ADP
fbem-10523	20	30	the	the	DET
fbem-10523	20	31	valuation	valuation	NOUN
fbem-10523	20	32	,	,	PUNCT
fbem-10523	20	33	the	the	DET
fbem-10523	20	34	financing	financing	NOUN
fbem-10523	20	35	and	and	CCONJ
fbem-10523	20	36	payment	payment	NOUN
fbem-10523	20	37	risks	risk	NOUN
fbem-10523	20	38	in	in	ADP
fbem-10523	20	39	the	the	DET
fbem-10523	20	40	m&a	m&a	PROPN
fbem-10523	20	41	process	process	NOUN
fbem-10523	20	42	,	,	PUNCT
fbem-10523	20	43	and	and	CCONJ
fbem-10523	20	44	the	the	DET
fbem-10523	20	45	integration	integration	NOUN
fbem-10523	20	46	risks	risk	VERB
fbem-10523	20	47	after	after	ADP
fbem-10523	20	48	m&a	m&a	PROPN
fbem-10523	21	1	[	[	X
fbem-10523	21	2	8].zhu	8].zhu	NUM
fbem-10523	21	3	siqi	siqi	NOUN
fbem-10523	21	4	(	(	PUNCT
fbem-10523	21	5	2021	2021	NUM
fbem-10523	21	6	)	)	PUNCT
fbem-10523	21	7	identified	identify	VERB
fbem-10523	21	8	and	and	CCONJ
fbem-10523	21	9	analyzed	analyze	VERB
fbem-10523	21	10	financial	financial	ADJ
fbem-10523	21	11	risks	risk	NOUN
fbem-10523	21	12	,	,	PUNCT
fbem-10523	21	13	which	which	PRON
fbem-10523	21	14	mainly	mainly	ADV
fbem-10523	21	15	included	include	VERB
fbem-10523	21	16	political	political	ADJ
fbem-10523	21	17	risk	risk	NOUN
fbem-10523	21	18	,	,	PUNCT
fbem-10523	21	19	valuation	valuation	NOUN
fbem-10523	21	20	risk	risk	NOUN
fbem-10523	21	21	,	,	PUNCT
fbem-10523	21	22	financing	financing	NOUN
fbem-10523	21	23	and	and	CCONJ
fbem-10523	21	24	payment	payment	NOUN
fbem-10523	21	25	risk	risk	NOUN
fbem-10523	21	26	and	and	CCONJ
fbem-10523	21	27	integration	integration	NOUN
fbem-10523	21	28	risk	risk	NOUN
fbem-10523	21	29	,	,	PUNCT
fbem-10523	21	30	and	and	CCONJ
fbem-10523	21	31	integration	integration	NOUN
fbem-10523	21	32	risk	risk	NOUN
fbem-10523	21	33	was	be	AUX
fbem-10523	21	34	reflected	reflect	VERB
fbem-10523	21	35	in	in	ADP
fbem-10523	21	36	human	human	ADJ
fbem-10523	21	37	and	and	CCONJ
fbem-10523	21	38	cultural	cultural	ADJ
fbem-10523	21	39	integration	integration	NOUN
fbem-10523	21	40	risk[9	risk[9	PROPN
fbem-10523	21	41	]	]	PUNCT
fbem-10523	21	42	.	.	PUNCT
fbem-10523	22	1	at	at	ADP
fbem-10523	22	2	the	the	DET
fbem-10523	22	3	stage	stage	NOUN
fbem-10523	22	4	of	of	ADP
fbem-10523	22	5	m&a	m&a	PROPN
fbem-10523	22	6	preparation	preparation	NOUN
fbem-10523	22	7	,	,	PUNCT
fbem-10523	22	8	xie	xie	PROPN
fbem-10523	22	9	ww	ww	PROPN
fbem-10523	22	10	(	(	PUNCT
fbem-10523	22	11	2020	2020	NUM
fbem-10523	22	12	)	)	PUNCT
fbem-10523	22	13	et	et	PROPN
fbem-10523	22	14	al	al	PROPN
fbem-10523	22	15	believe	believe	VERB
fbem-10523	22	16	that	that	SCONJ
fbem-10523	22	17	the	the	DET
fbem-10523	22	18	more	more	ADV
fbem-10523	22	19	opaque	opaque	ADJ
fbem-10523	22	20	corporate	corporate	ADJ
fbem-10523	22	21	information	information	NOUN
fbem-10523	22	22	is	be	AUX
fbem-10523	22	23	,	,	PUNCT
fbem-10523	22	24	the	the	DET
fbem-10523	22	25	more	more	ADV
fbem-10523	22	26	likely	likely	ADJ
fbem-10523	22	27	managers	manager	NOUN
fbem-10523	22	28	are	be	AUX
fbem-10523	22	29	to	to	PART
fbem-10523	22	30	manipulate	manipulate	VERB
fbem-10523	22	31	goodwill	goodwill	NOUN
fbem-10523	22	32	to	to	PART
fbem-10523	22	33	achieve	achieve	VERB
fbem-10523	22	34	their	their	PRON
fbem-10523	22	35	interests	interest	NOUN
fbem-10523	22	36	.	.	PUNCT
fbem-10523	23	1	at	at	ADP
fbem-10523	23	2	the	the	DET
fbem-10523	23	3	same	same	ADJ
fbem-10523	23	4	time	time	NOUN
fbem-10523	23	5	,	,	PUNCT
fbem-10523	23	6	the	the	DET
fbem-10523	23	7	less	less	ADV
fbem-10523	23	8	negative	negative	ADJ
fbem-10523	23	9	corporate	corporate	ADJ
fbem-10523	23	10	55	55	NUM
fbem-10523	23	11	news	news	NOUN
fbem-10523	23	12	,	,	PUNCT
fbem-10523	23	13	the	the	DET
fbem-10523	23	14	less	less	ADJ
fbem-10523	23	15	media	medium	NOUN
fbem-10523	23	16	supervision	supervision	NOUN
fbem-10523	23	17	,	,	PUNCT
fbem-10523	23	18	and	and	CCONJ
fbem-10523	23	19	the	the	PRON
fbem-10523	23	20	higher	high	ADJ
fbem-10523	23	21	the	the	DET
fbem-10523	23	22	degree	degree	NOUN
fbem-10523	23	23	of	of	ADP
fbem-10523	23	24	information	information	NOUN
fbem-10523	23	25	asymmetry	asymmetry	NOUN
fbem-10523	23	26	between	between	ADP
fbem-10523	23	27	enterprises	enterprise	NOUN
fbem-10523	23	28	and	and	CCONJ
fbem-10523	23	29	investors	investor	NOUN
fbem-10523	23	30	,	,	PUNCT
fbem-10523	23	31	which	which	PRON
fbem-10523	23	32	will	will	AUX
fbem-10523	23	33	lead	lead	VERB
fbem-10523	23	34	to	to	ADP
fbem-10523	23	35	mergers	merger	NOUN
fbem-10523	23	36	and	and	CCONJ
fbem-10523	23	37	acquisitions	acquisition	NOUN
fbem-10523	23	38	with	with	ADP
fbem-10523	23	39	high	high	ADJ
fbem-10523	23	40	goodwill[10]during	goodwill[10]dure	VERB
fbem-10523	23	41	the	the	DET
fbem-10523	23	42	implementation	implementation	NOUN
fbem-10523	23	43	stage	stage	NOUN
fbem-10523	23	44	of	of	ADP
fbem-10523	23	45	m&a	m&a	PROPN
fbem-10523	23	46	,	,	PUNCT
fbem-10523	23	47	zhang	zhang	PROPN
fbem-10523	23	48	jingbei	jingbei	PROPN
fbem-10523	23	49	(	(	PUNCT
fbem-10523	23	50	2021	2021	NUM
fbem-10523	23	51	)	)	PUNCT
fbem-10523	23	52	analyzed	analyze	VERB
fbem-10523	23	53	the	the	DET
fbem-10523	23	54	financial	financial	ADJ
fbem-10523	23	55	risks	risk	NOUN
fbem-10523	23	56	caused	cause	VERB
fbem-10523	23	57	by	by	ADP
fbem-10523	23	58	unreasonable	unreasonable	ADJ
fbem-10523	23	59	financing	financing	NOUN
fbem-10523	23	60	methods	method	NOUN
fbem-10523	23	61	.	.	PUNCT
fbem-10523	24	1	if	if	SCONJ
fbem-10523	24	2	the	the	DET
fbem-10523	24	3	scale	scale	NOUN
fbem-10523	24	4	of	of	ADP
fbem-10523	24	5	m&a	m&a	PROPN
fbem-10523	24	6	requires	require	VERB
fbem-10523	24	7	more	more	ADJ
fbem-10523	24	8	funds	fund	NOUN
fbem-10523	24	9	,	,	PUNCT
fbem-10523	24	10	there	there	PRON
fbem-10523	24	11	will	will	AUX
fbem-10523	24	12	be	be	AUX
fbem-10523	24	13	many	many	ADJ
fbem-10523	24	14	limitations	limitation	NOUN
fbem-10523	24	15	in	in	ADP
fbem-10523	24	16	internal	internal	ADJ
fbem-10523	24	17	financing	financing	NOUN
fbem-10523	24	18	.	.	PUNCT
fbem-10523	25	1	however	however	ADV
fbem-10523	25	2	,	,	PUNCT
fbem-10523	25	3	external	external	ADJ
fbem-10523	25	4	financing	financing	NOUN
fbem-10523	25	5	is	be	AUX
fbem-10523	25	6	very	very	ADV
fbem-10523	25	7	complicated	complicated	ADJ
fbem-10523	25	8	and	and	CCONJ
fbem-10523	25	9	takes	take	VERB
fbem-10523	25	10	a	a	DET
fbem-10523	25	11	long	long	ADJ
fbem-10523	25	12	time	time	NOUN
fbem-10523	25	13	,	,	PUNCT
fbem-10523	25	14	so	so	CCONJ
fbem-10523	25	15	the	the	DET
fbem-10523	25	16	use	use	NOUN
fbem-10523	25	17	of	of	ADP
fbem-10523	25	18	this	this	DET
fbem-10523	25	19	financing	financing	NOUN
fbem-10523	25	20	method	method	NOUN
fbem-10523	25	21	may	may	AUX
fbem-10523	25	22	miss	miss	VERB
fbem-10523	25	23	the	the	DET
fbem-10523	25	24	opportunity	opportunity	NOUN
fbem-10523	25	25	of	of	ADP
fbem-10523	25	26	m&a[11].han	m&a[11].han	NOUN
fbem-10523	25	27	zhiqing	zhiqing	NOUN
fbem-10523	25	28	(	(	PUNCT
fbem-10523	25	29	2021	2021	NUM
fbem-10523	25	30	)	)	PUNCT
fbem-10523	25	31	believes	believe	VERB
fbem-10523	25	32	that	that	SCONJ
fbem-10523	25	33	financing	financing	NOUN
fbem-10523	25	34	risks	risk	NOUN
fbem-10523	25	35	mainly	mainly	ADV
fbem-10523	25	36	come	come	VERB
fbem-10523	25	37	from	from	ADP
fbem-10523	25	38	wrong	wrong	ADJ
fbem-10523	25	39	selection	selection	NOUN
fbem-10523	25	40	of	of	ADP
fbem-10523	25	41	financing	financing	NOUN
fbem-10523	25	42	methods	method	NOUN
fbem-10523	25	43	,	,	PUNCT
fbem-10523	25	44	such	such	ADJ
fbem-10523	25	45	as	as	ADP
fbem-10523	25	46	too	too	ADV
fbem-10523	25	47	fast	fast	ADJ
fbem-10523	25	48	or	or	CCONJ
fbem-10523	25	49	too	too	ADV
fbem-10523	25	50	slow	slow	ADJ
fbem-10523	25	51	financing	financing	NOUN
fbem-10523	25	52	time	time	NOUN
fbem-10523	25	53	in	in	ADP
fbem-10523	25	54	the	the	DET
fbem-10523	25	55	financing	financing	NOUN
fbem-10523	25	56	plan	plan	NOUN
fbem-10523	25	57	,	,	PUNCT
fbem-10523	25	58	unreasonable	unreasonable	ADJ
fbem-10523	25	59	financing	financing	NOUN
fbem-10523	25	60	ratio	ratio	NOUN
fbem-10523	25	61	,	,	PUNCT
fbem-10523	25	62	and	and	CCONJ
fbem-10523	25	63	too	too	ADV
fbem-10523	25	64	single	single	ADJ
fbem-10523	25	65	financing	financing	NOUN
fbem-10523	25	66	channels	channel	NOUN
fbem-10523	25	67	,	,	PUNCT
fbem-10523	25	68	which	which	PRON
fbem-10523	25	69	will	will	AUX
fbem-10523	25	70	increase	increase	VERB
fbem-10523	25	71	financing	financing	NOUN
fbem-10523	25	72	risks[12].in	risks[12].in	NOUN
fbem-10523	25	73	the	the	DET
fbem-10523	25	74	stage	stage	NOUN
fbem-10523	25	75	of	of	ADP
fbem-10523	25	76	merger	merger	NOUN
fbem-10523	25	77	and	and	CCONJ
fbem-10523	25	78	integration	integration	NOUN
fbem-10523	25	79	,	,	PUNCT
fbem-10523	25	80	hu	hu	PROPN
fbem-10523	25	81	guifen	guifen	PROPN
fbem-10523	25	82	(	(	PUNCT
fbem-10523	25	83	2020	2020	NUM
fbem-10523	25	84	)	)	PUNCT
fbem-10523	25	85	subdivided	subdivide	VERB
fbem-10523	25	86	merger	merger	NOUN
fbem-10523	25	87	and	and	CCONJ
fbem-10523	25	88	integration	integration	NOUN
fbem-10523	25	89	risks	risk	NOUN
fbem-10523	25	90	,	,	PUNCT
fbem-10523	25	91	including	include	VERB
fbem-10523	25	92	integration	integration	NOUN
fbem-10523	25	93	risks	risk	NOUN
fbem-10523	25	94	caused	cause	VERB
fbem-10523	25	95	by	by	ADP
fbem-10523	25	96	the	the	DET
fbem-10523	25	97	inconsistency	inconsistency	NOUN
fbem-10523	25	98	of	of	ADP
fbem-10523	25	99	strategic	strategic	ADJ
fbem-10523	25	100	objectives	objective	NOUN
fbem-10523	25	101	between	between	ADP
fbem-10523	25	102	the	the	DET
fbem-10523	25	103	merger	merger	NOUN
fbem-10523	25	104	and	and	CCONJ
fbem-10523	25	105	acquisition	acquisition	NOUN
fbem-10523	25	106	parties	party	NOUN
fbem-10523	25	107	,	,	PUNCT
fbem-10523	25	108	integration	integration	NOUN
fbem-10523	25	109	risks	risk	NOUN
fbem-10523	25	110	caused	cause	VERB
fbem-10523	25	111	by	by	ADP
fbem-10523	25	112	cultural	cultural	ADJ
fbem-10523	25	113	differences	difference	NOUN
fbem-10523	25	114	between	between	ADP
fbem-10523	25	115	the	the	DET
fbem-10523	25	116	merger	merger	NOUN
fbem-10523	25	117	and	and	CCONJ
fbem-10523	25	118	acquisition	acquisition	NOUN
fbem-10523	25	119	parties	party	NOUN
fbem-10523	25	120	,	,	PUNCT
fbem-10523	25	121	and	and	CCONJ
fbem-10523	25	122	human	human	ADJ
fbem-10523	25	123	resources	resource	NOUN
fbem-10523	25	124	and	and	CCONJ
fbem-10523	25	125	organizational	organizational	ADJ
fbem-10523	25	126	structure	structure	NOUN
fbem-10523	25	127	risks	risk	NOUN
fbem-10523	25	128	caused	cause	VERB
fbem-10523	25	129	by	by	ADP
fbem-10523	25	130	salary	salary	NOUN
fbem-10523	25	131	and	and	CCONJ
fbem-10523	25	132	performance	performance	NOUN
fbem-10523	25	133	system	system	NOUN
fbem-10523	25	134	adjustment	adjustment	NOUN
fbem-10523	25	135	and	and	CCONJ
fbem-10523	25	136	personnel	personnel	NOUN
fbem-10523	25	137	post	post	NOUN
fbem-10523	25	138	transfer[13].li	transfer[13].li	PROPN
fbem-10523	25	139	mengqi	mengqi	NOUN
fbem-10523	25	140	(	(	PUNCT
fbem-10523	25	141	2021	2021	NUM
fbem-10523	25	142	)	)	PUNCT
fbem-10523	25	143	the	the	DET
fbem-10523	25	144	different	different	ADJ
fbem-10523	25	145	corporate	corporate	ADJ
fbem-10523	25	146	culture	culture	NOUN
fbem-10523	25	147	and	and	CCONJ
fbem-10523	25	148	business	business	NOUN
fbem-10523	25	149	philosophy	philosophy	NOUN
fbem-10523	25	150	between	between	ADP
fbem-10523	25	151	the	the	DET
fbem-10523	25	152	two	two	NUM
fbem-10523	25	153	sides	side	NOUN
fbem-10523	25	154	of	of	ADP
fbem-10523	25	155	the	the	DET
fbem-10523	25	156	merger	merger	NOUN
fbem-10523	25	157	and	and	CCONJ
fbem-10523	25	158	acquisition	acquisition	NOUN
fbem-10523	25	159	may	may	AUX
fbem-10523	25	160	hinder	hinder	VERB
fbem-10523	25	161	the	the	DET
fbem-10523	25	162	integration	integration	NOUN
fbem-10523	25	163	of	of	ADP
fbem-10523	25	164	enterprises	enterprise	NOUN
fbem-10523	25	165	and	and	CCONJ
fbem-10523	25	166	bring	bring	VERB
fbem-10523	25	167	risks[14	risks[14	PROPN
fbem-10523	25	168	]	]	PUNCT
fbem-10523	25	169	.	.	PUNCT
fbem-10523	26	1	3	3	X
fbem-10523	26	2	.	.	X
fbem-10523	26	3	case	case	NOUN
fbem-10523	26	4	introduction	introduction	NOUN
fbem-10523	26	5	3.1	3.1	NUM
fbem-10523	26	6	.	.	PUNCT
fbem-10523	26	7	m&a	m&a	PROPN
fbem-10523	26	8	company	company	NOUN
fbem-10523	26	9	profile	profile	VERB
fbem-10523	26	10	3.1.1	3.1.1	NUM
fbem-10523	26	11	.	.	PUNCT
fbem-10523	27	1	acquirer	acquirer	NOUN
fbem-10523	27	2	profile	profile	NOUN
fbem-10523	27	3	suning	suning	NOUN
fbem-10523	27	4	was	be	AUX
fbem-10523	27	5	established	establish	VERB
fbem-10523	27	6	in	in	ADP
fbem-10523	27	7	nanjing	nanjing	PROPN
fbem-10523	27	8	in	in	ADP
fbem-10523	27	9	1990.after	1990.after	NUM
fbem-10523	27	10	more	more	ADJ
fbem-10523	27	11	than	than	ADP
fbem-10523	27	12	two	two	NUM
fbem-10523	27	13	decades	decade	NOUN
fbem-10523	27	14	of	of	ADP
fbem-10523	27	15	continuous	continuous	ADJ
fbem-10523	27	16	growth	growth	NOUN
fbem-10523	27	17	,	,	PUNCT
fbem-10523	27	18	suning	sun	VERB
fbem-10523	27	19	has	have	AUX
fbem-10523	27	20	expanded	expand	VERB
fbem-10523	27	21	its	its	PRON
fbem-10523	27	22	business	business	NOUN
fbem-10523	27	23	scope	scope	NOUN
fbem-10523	27	24	from	from	ADP
fbem-10523	27	25	air	air	NOUN
fbem-10523	27	26	conditioning	conditioning	NOUN
fbem-10523	27	27	distributor	distributor	NOUN
fbem-10523	27	28	to	to	ADP
fbem-10523	27	29	telecommunications	telecommunication	NOUN
fbem-10523	27	30	and	and	CCONJ
fbem-10523	27	31	digital	digital	ADJ
fbem-10523	27	32	products	product	NOUN
fbem-10523	27	33	.	.	PUNCT
fbem-10523	28	1	the	the	DET
fbem-10523	28	2	development	development	NOUN
fbem-10523	28	3	process	process	NOUN
fbem-10523	28	4	of	of	ADP
fbem-10523	28	5	suning	sun	VERB
fbem-10523	28	6	shopping	shopping	NOUN
fbem-10523	28	7	can	can	AUX
fbem-10523	28	8	be	be	AUX
fbem-10523	28	9	roughly	roughly	ADV
fbem-10523	28	10	divided	divide	VERB
fbem-10523	28	11	into	into	ADP
fbem-10523	28	12	three	three	NUM
fbem-10523	28	13	stages	stage	NOUN
fbem-10523	28	14	:	:	PUNCT
fbem-10523	28	15	traditional	traditional	ADJ
fbem-10523	28	16	sales	sale	NOUN
fbem-10523	28	17	stage	stage	NOUN
fbem-10523	28	18	,	,	PUNCT
fbem-10523	28	19	o2o	o2o	NOUN
fbem-10523	28	20	stage	stage	NOUN
fbem-10523	28	21	and	and	CCONJ
fbem-10523	28	22	smart	smart	ADJ
fbem-10523	28	23	retail	retail	ADJ
fbem-10523	28	24	stage	stage	NOUN
fbem-10523	28	25	.	.	PUNCT
fbem-10523	29	1	the	the	DET
fbem-10523	29	2	new	new	ADJ
fbem-10523	29	3	retail	retail	ADJ
fbem-10523	29	4	management	management	NOUN
fbem-10523	29	5	concept	concept	NOUN
fbem-10523	29	6	pushes	push	VERB
fbem-10523	29	7	smart	smart	ADJ
fbem-10523	29	8	retail	retail	NOUN
fbem-10523	29	9	further	far	ADV
fbem-10523	29	10	and	and	CCONJ
fbem-10523	29	11	pushes	push	VERB
fbem-10523	29	12	suning	sun	VERB
fbem-10523	29	13	tesco	tesco	PROPN
fbem-10523	29	14	to	to	ADP
fbem-10523	29	15	a	a	DET
fbem-10523	29	16	new	new	ADJ
fbem-10523	29	17	stage	stage	NOUN
fbem-10523	29	18	of	of	ADP
fbem-10523	29	19	development	development	NOUN
fbem-10523	29	20	.	.	PUNCT
fbem-10523	30	1	at	at	ADP
fbem-10523	30	2	present	present	ADJ
fbem-10523	30	3	,	,	PUNCT
fbem-10523	30	4	suning	sun	VERB
fbem-10523	30	5	tesco	tesco	PROPN
fbem-10523	30	6	focuses	focus	VERB
fbem-10523	30	7	on	on	ADP
fbem-10523	30	8	the	the	DET
fbem-10523	30	9	multiformat	multiformat	ADJ
fbem-10523	30	10	smart	smart	ADJ
fbem-10523	30	11	retail	retail	ADJ
fbem-10523	30	12	model	model	NOUN
fbem-10523	30	13	,	,	PUNCT
fbem-10523	30	14	and	and	CCONJ
fbem-10523	30	15	strives	strive	VERB
fbem-10523	30	16	to	to	PART
fbem-10523	30	17	create	create	VERB
fbem-10523	30	18	a	a	DET
fbem-10523	30	19	full	full	ADJ
fbem-10523	30	20	-	-	PUNCT
fbem-10523	30	21	scene	scene	NOUN
fbem-10523	30	22	retail	retail	ADJ
fbem-10523	30	23	model	model	NOUN
fbem-10523	30	24	with	with	ADP
fbem-10523	30	25	online	online	ADJ
fbem-10523	30	26	and	and	CCONJ
fbem-10523	30	27	offline	offline	ADJ
fbem-10523	30	28	multi	multi	ADJ
fbem-10523	30	29	-	-	ADJ
fbem-10523	30	30	channel	channel	ADJ
fbem-10523	30	31	and	and	CCONJ
fbem-10523	30	32	multiformat	multiformat	NOUN
fbem-10523	30	33	integration	integration	NOUN
fbem-10523	30	34	.	.	PUNCT
fbem-10523	31	1	3.1.2	3.1.2	X
fbem-10523	31	2	.	.	PUNCT
fbem-10523	31	3	profile	profile	NOUN
fbem-10523	31	4	of	of	ADP
fbem-10523	31	5	the	the	DET
fbem-10523	31	6	acquiree	acquiree	NOUN
fbem-10523	31	7	founded	found	VERB
fbem-10523	31	8	in	in	ADP
fbem-10523	31	9	1959	1959	NUM
fbem-10523	31	10	,	,	PUNCT
fbem-10523	31	11	carrefour	carrefour	NOUN
fbem-10523	31	12	is	be	AUX
fbem-10523	31	13	a	a	DET
fbem-10523	31	14	pioneer	pioneer	NOUN
fbem-10523	31	15	in	in	ADP
fbem-10523	31	16	the	the	DET
fbem-10523	31	17	supermarket	supermarket	NOUN
fbem-10523	31	18	industry	industry	NOUN
fbem-10523	31	19	and	and	CCONJ
fbem-10523	31	20	is	be	AUX
fbem-10523	31	21	not	not	PART
fbem-10523	31	22	only	only	ADV
fbem-10523	31	23	the	the	DET
fbem-10523	31	24	largest	large	ADJ
fbem-10523	31	25	retailer	retailer	NOUN
fbem-10523	31	26	in	in	ADP
fbem-10523	31	27	europe	europe	PROPN
fbem-10523	31	28	,	,	PUNCT
fbem-10523	31	29	but	but	CCONJ
fbem-10523	31	30	also	also	ADV
fbem-10523	31	31	the	the	DET
fbem-10523	31	32	second	second	ADV
fbem-10523	31	33	largest	large	ADJ
fbem-10523	31	34	international	international	ADJ
fbem-10523	31	35	retail	retail	ADJ
fbem-10523	31	36	group	group	NOUN
fbem-10523	31	37	in	in	ADP
fbem-10523	31	38	the	the	DET
fbem-10523	31	39	world	world	NOUN
fbem-10523	31	40	.	.	PUNCT
fbem-10523	32	1	carrefour	carrefour	NOUN
fbem-10523	32	2	adopts	adopt	VERB
fbem-10523	32	3	the	the	DET
fbem-10523	32	4	international	international	ADJ
fbem-10523	32	5	advanced	advanced	ADJ
fbem-10523	32	6	supermarket	supermarket	NOUN
fbem-10523	32	7	management	management	NOUN
fbem-10523	32	8	model	model	NOUN
fbem-10523	32	9	,	,	PUNCT
fbem-10523	32	10	which	which	PRON
fbem-10523	32	11	is	be	AUX
fbem-10523	32	12	deeply	deeply	ADV
fbem-10523	32	13	loved	love	VERB
fbem-10523	32	14	by	by	ADP
fbem-10523	32	15	the	the	DET
fbem-10523	32	16	majority	majority	NOUN
fbem-10523	32	17	of	of	ADP
fbem-10523	32	18	consumers	consumer	NOUN
fbem-10523	32	19	.	.	PUNCT
fbem-10523	33	1	carrefour	carrefour	NOUN
fbem-10523	33	2	is	be	AUX
fbem-10523	33	3	one	one	NUM
fbem-10523	33	4	of	of	ADP
fbem-10523	33	5	the	the	DET
fbem-10523	33	6	first	first	ADJ
fbem-10523	33	7	foreign	foreign	ADJ
fbem-10523	33	8	retailers	retailer	NOUN
fbem-10523	33	9	to	to	PART
fbem-10523	33	10	cooperate	cooperate	VERB
fbem-10523	33	11	with	with	ADP
fbem-10523	33	12	china	china	PROPN
fbem-10523	33	13	and	and	CCONJ
fbem-10523	33	14	officially	officially	ADV
fbem-10523	33	15	enter	enter	VERB
fbem-10523	33	16	the	the	DET
fbem-10523	33	17	mainland	mainland	NOUN
fbem-10523	33	18	market	market	NOUN
fbem-10523	33	19	and	and	CCONJ
fbem-10523	33	20	set	set	VERB
fbem-10523	33	21	up	up	ADP
fbem-10523	33	22	business	business	NOUN
fbem-10523	33	23	in	in	ADP
fbem-10523	33	24	china	china	PROPN
fbem-10523	33	25	in	in	ADP
fbem-10523	33	26	1995.since	1995.since	NUM
fbem-10523	33	27	its	its	PRON
fbem-10523	33	28	expansion	expansion	NOUN
fbem-10523	33	29	into	into	ADP
fbem-10523	33	30	china	china	PROPN
fbem-10523	33	31	,	,	PUNCT
fbem-10523	33	32	carrefour	carrefour	PROPN
fbem-10523	33	33	china	china	PROPN
fbem-10523	33	34	has	have	AUX
fbem-10523	33	35	benefited	benefit	VERB
fbem-10523	33	36	from	from	ADP
fbem-10523	33	37	the	the	DET
fbem-10523	33	38	mature	mature	ADJ
fbem-10523	33	39	operation	operation	NOUN
fbem-10523	33	40	mode	mode	NOUN
fbem-10523	33	41	established	establish	VERB
fbem-10523	33	42	by	by	ADP
fbem-10523	33	43	many	many	ADJ
fbem-10523	33	44	years	year	NOUN
fbem-10523	33	45	of	of	ADP
fbem-10523	33	46	deep	deep	ADJ
fbem-10523	33	47	overseas	overseas	ADJ
fbem-10523	33	48	cultivation	cultivation	NOUN
fbem-10523	33	49	by	by	ADP
fbem-10523	33	50	constantly	constantly	ADV
fbem-10523	33	51	adding	add	VERB
fbem-10523	33	52	new	new	ADJ
fbem-10523	33	53	stores	store	NOUN
fbem-10523	33	54	,	,	PUNCT
fbem-10523	33	55	vigorously	vigorously	ADV
fbem-10523	33	56	expanding	expand	VERB
fbem-10523	33	57	the	the	DET
fbem-10523	33	58	chinese	chinese	ADJ
fbem-10523	33	59	market	market	NOUN
fbem-10523	33	60	and	and	CCONJ
fbem-10523	33	61	rapidly	rapidly	ADV
fbem-10523	33	62	expanding	expand	VERB
fbem-10523	33	63	its	its	PRON
fbem-10523	33	64	business	business	NOUN
fbem-10523	33	65	.	.	PUNCT
fbem-10523	34	1	3.2	3.2	NUM
fbem-10523	34	2	.	.	PUNCT
fbem-10523	34	3	merger	merger	NOUN
fbem-10523	34	4	and	and	CCONJ
fbem-10523	34	5	acquisition	acquisition	NOUN
fbem-10523	34	6	process	process	NOUN
fbem-10523	34	7	suning	sun	VERB
fbem-10523	34	8	tesco	tesco	PROPN
fbem-10523	34	9	announced	announce	VERB
fbem-10523	34	10	on	on	ADP
fbem-10523	34	11	june	june	PROPN
fbem-10523	34	12	24	24	NUM
fbem-10523	34	13	,	,	PUNCT
fbem-10523	34	14	2019	2019	NUM
fbem-10523	34	15	that	that	PRON
fbem-10523	34	16	its	its	PRON
fbem-10523	34	17	subsidiary	subsidiary	NOUN
fbem-10523	34	18	would	would	AUX
fbem-10523	34	19	acquire	acquire	VERB
fbem-10523	34	20	80	80	NUM
fbem-10523	34	21	%	%	NOUN
fbem-10523	34	22	of	of	ADP
fbem-10523	34	23	carrefour	carrefour	PROPN
fbem-10523	34	24	china	china	PROPN
fbem-10523	34	25	.	.	PUNCT
fbem-10523	35	1	the	the	DET
fbem-10523	35	2	process	process	NOUN
fbem-10523	35	3	of	of	ADP
fbem-10523	35	4	the	the	DET
fbem-10523	35	5	transaction	transaction	NOUN
fbem-10523	35	6	was	be	AUX
fbem-10523	35	7	rapid	rapid	ADJ
fbem-10523	35	8	,	,	PUNCT
fbem-10523	35	9	taking	take	VERB
fbem-10523	35	10	only	only	ADV
fbem-10523	35	11	three	three	NUM
fbem-10523	35	12	months	month	NOUN
fbem-10523	35	13	from	from	ADP
fbem-10523	35	14	the	the	DET
fbem-10523	35	15	first	first	ADJ
fbem-10523	35	16	disclosure	disclosure	NOUN
fbem-10523	35	17	to	to	ADP
fbem-10523	35	18	the	the	DET
fbem-10523	35	19	completion	completion	NOUN
fbem-10523	35	20	of	of	ADP
fbem-10523	35	21	the	the	DET
fbem-10523	35	22	transaction	transaction	NOUN
fbem-10523	35	23	.	.	PUNCT
fbem-10523	36	1	on	on	ADP
fbem-10523	36	2	june	june	PROPN
fbem-10523	36	3	24	24	NUM
fbem-10523	36	4	,	,	PUNCT
fbem-10523	36	5	2019	2019	NUM
fbem-10523	36	6	,	,	PUNCT
fbem-10523	36	7	suning	sun	VERB
fbem-10523	36	8	tesco	tesco	PROPN
fbem-10523	36	9	disclosed	disclose	VERB
fbem-10523	36	10	the	the	DET
fbem-10523	36	11	acquisition	acquisition	NOUN
fbem-10523	36	12	for	for	ADP
fbem-10523	36	13	the	the	DET
fbem-10523	36	14	first	first	ADJ
fbem-10523	36	15	time	time	NOUN
fbem-10523	36	16	,	,	PUNCT
fbem-10523	36	17	planning	plan	VERB
fbem-10523	36	18	to	to	PART
fbem-10523	36	19	acquire	acquire	VERB
fbem-10523	36	20	80	80	NUM
fbem-10523	36	21	%	%	NOUN
fbem-10523	36	22	of	of	ADP
fbem-10523	36	23	carrefour	carrefour	NOUN
fbem-10523	36	24	china	china	PROPN
fbem-10523	36	25	's	's	PART
fbem-10523	36	26	shares	share	NOUN
fbem-10523	36	27	with	with	ADP
fbem-10523	36	28	4.8	4.8	NUM
fbem-10523	36	29	billion	billion	NUM
fbem-10523	36	30	yuan	yuan	NOUN
fbem-10523	36	31	in	in	ADP
fbem-10523	36	32	cash	cash	NOUN
fbem-10523	36	33	.	.	PUNCT
fbem-10523	37	1	on	on	ADP
fbem-10523	37	2	august	august	PROPN
fbem-10523	37	3	27	27	NUM
fbem-10523	37	4	of	of	ADP
fbem-10523	37	5	the	the	DET
fbem-10523	37	6	same	same	ADJ
fbem-10523	37	7	year	year	NOUN
fbem-10523	37	8	,	,	PUNCT
fbem-10523	37	9	suning	sun	VERB
fbem-10523	37	10	tesco	tesco	PROPN
fbem-10523	37	11	announced	announce	VERB
fbem-10523	37	12	the	the	DET
fbem-10523	37	13	acquisition	acquisition	NOUN
fbem-10523	37	14	progress	progress	NOUN
fbem-10523	37	15	announcement	announcement	NOUN
fbem-10523	37	16	,	,	PUNCT
fbem-10523	37	17	indicating	indicate	VERB
fbem-10523	37	18	that	that	SCONJ
fbem-10523	37	19	the	the	DET
fbem-10523	37	20	merger	merger	NOUN
fbem-10523	37	21	and	and	CCONJ
fbem-10523	37	22	acquisition	acquisition	NOUN
fbem-10523	37	23	activity	activity	NOUN
fbem-10523	37	24	has	have	AUX
fbem-10523	37	25	passed	pass	VERB
fbem-10523	37	26	the	the	DET
fbem-10523	37	27	relevant	relevant	ADJ
fbem-10523	37	28	anti	anti	ADJ
fbem-10523	37	29	-	-	ADJ
fbem-10523	37	30	monopoly	monopoly	ADJ
fbem-10523	37	31	review	review	NOUN
fbem-10523	37	32	.	.	PUNCT
fbem-10523	38	1	on	on	ADP
fbem-10523	38	2	september	september	PROPN
fbem-10523	38	3	27	27	NUM
fbem-10523	38	4	,	,	PUNCT
fbem-10523	38	5	suning	sun	VERB
fbem-10523	38	6	announced	announce	VERB
fbem-10523	38	7	the	the	DET
fbem-10523	38	8	completion	completion	NOUN
fbem-10523	38	9	of	of	ADP
fbem-10523	38	10	the	the	DET
fbem-10523	38	11	acquisition	acquisition	NOUN
fbem-10523	38	12	,	,	PUNCT
fbem-10523	38	13	suning	sun	VERB
fbem-10523	38	14	paid	pay	VERB
fbem-10523	38	15	the	the	DET
fbem-10523	38	16	full	full	ADJ
fbem-10523	38	17	price	price	NOUN
fbem-10523	38	18	of	of	ADP
fbem-10523	38	19	the	the	DET
fbem-10523	38	20	acquisition	acquisition	NOUN
fbem-10523	38	21	,	,	PUNCT
fbem-10523	38	22	and	and	CCONJ
fbem-10523	38	23	acquired	acquire	VERB
fbem-10523	38	24	80	80	NUM
fbem-10523	38	25	%	%	NOUN
fbem-10523	38	26	of	of	ADP
fbem-10523	38	27	the	the	DET
fbem-10523	38	28	shares	share	NOUN
fbem-10523	38	29	of	of	ADP
fbem-10523	38	30	carrefour	carrefour	NOUN
fbem-10523	38	31	china	china	PROPN
fbem-10523	38	32	.	.	PUNCT
fbem-10523	39	1	4	4	X
fbem-10523	39	2	.	.	X
fbem-10523	39	3	m&a	m&a	NOUN
fbem-10523	39	4	motivation	motivation	NOUN
fbem-10523	39	5	4.1	4.1	NUM
fbem-10523	39	6	.	.	PUNCT
fbem-10523	40	1	adapt	adapt	VERB
fbem-10523	40	2	to	to	ADP
fbem-10523	40	3	the	the	DET
fbem-10523	40	4	development	development	NOUN
fbem-10523	40	5	of	of	ADP
fbem-10523	40	6	the	the	DET
fbem-10523	40	7	times	time	NOUN
fbem-10523	40	8	and	and	CCONJ
fbem-10523	40	9	improve	improve	VERB
fbem-10523	40	10	the	the	DET
fbem-10523	40	11	strategic	strategic	ADJ
fbem-10523	40	12	pattern	pattern	NOUN
fbem-10523	40	13	with	with	ADP
fbem-10523	40	14	the	the	DET
fbem-10523	40	15	development	development	NOUN
fbem-10523	40	16	of	of	ADP
fbem-10523	40	17	the	the	DET
fbem-10523	40	18	internet	internet	NOUN
fbem-10523	40	19	,	,	PUNCT
fbem-10523	40	20	the	the	DET
fbem-10523	40	21	competition	competition	NOUN
fbem-10523	40	22	of	of	ADP
fbem-10523	40	23	ecommerce	ecommerce	NOUN
fbem-10523	40	24	has	have	AUX
fbem-10523	40	25	become	become	VERB
fbem-10523	40	26	more	more	ADV
fbem-10523	40	27	and	and	CCONJ
fbem-10523	40	28	more	more	ADV
fbem-10523	40	29	fierce	fierce	ADJ
fbem-10523	40	30	,	,	PUNCT
fbem-10523	40	31	and	and	CCONJ
fbem-10523	40	32	the	the	DET
fbem-10523	40	33	online	online	ADJ
fbem-10523	40	34	retail	retail	ADJ
fbem-10523	40	35	market	market	NOUN
fbem-10523	40	36	has	have	AUX
fbem-10523	40	37	basically	basically	ADV
fbem-10523	40	38	formed	form	VERB
fbem-10523	40	39	a	a	DET
fbem-10523	40	40	pattern	pattern	NOUN
fbem-10523	40	41	dominated	dominate	VERB
fbem-10523	40	42	by	by	ADP
fbem-10523	40	43	jingdong	jingdong	ADP
fbem-10523	40	44	and	and	CCONJ
fbem-10523	40	45	taobao	taobao	PROPN
fbem-10523	40	46	,	,	PUNCT
fbem-10523	40	47	and	and	CCONJ
fbem-10523	40	48	there	there	PRON
fbem-10523	40	49	are	be	VERB
fbem-10523	40	50	few	few	ADJ
fbem-10523	40	51	markets	market	NOUN
fbem-10523	40	52	left	leave	VERB
fbem-10523	40	53	to	to	PART
fbem-10523	40	54	explore	explore	VERB
fbem-10523	40	55	.	.	PUNCT
fbem-10523	41	1	in	in	ADP
fbem-10523	41	2	the	the	DET
fbem-10523	41	3	face	face	NOUN
fbem-10523	41	4	of	of	ADP
fbem-10523	41	5	this	this	DET
fbem-10523	41	6	market	market	NOUN
fbem-10523	41	7	pattern	pattern	NOUN
fbem-10523	41	8	,	,	PUNCT
fbem-10523	41	9	especially	especially	ADV
fbem-10523	41	10	after	after	ADP
fbem-10523	41	11	the	the	DET
fbem-10523	41	12	normalized	normalize	VERB
fbem-10523	41	13	management	management	NOUN
fbem-10523	41	14	of	of	ADP
fbem-10523	41	15	the	the	DET
fbem-10523	41	16	epidemic	epidemic	NOUN
fbem-10523	41	17	,	,	PUNCT
fbem-10523	41	18	the	the	DET
fbem-10523	41	19	state	state	NOUN
fbem-10523	41	20	has	have	VERB
fbem-10523	41	21	many	many	ADJ
fbem-10523	41	22	supportive	supportive	ADJ
fbem-10523	41	23	policies	policy	NOUN
fbem-10523	41	24	for	for	ADP
fbem-10523	41	25	the	the	DET
fbem-10523	41	26	entity	entity	NOUN
fbem-10523	41	27	industry	industry	NOUN
fbem-10523	41	28	,	,	PUNCT
fbem-10523	41	29	in	in	ADP
fbem-10523	41	30	this	this	DET
fbem-10523	41	31	context	context	NOUN
fbem-10523	41	32	,	,	PUNCT
fbem-10523	41	33	the	the	DET
fbem-10523	41	34	e	e	PROPN
fbem-10523	41	35	-	-	NOUN
fbem-10523	41	36	commerce	commerce	NOUN
fbem-10523	41	37	industry	industry	NOUN
fbem-10523	41	38	has	have	AUX
fbem-10523	41	39	gradually	gradually	ADV
fbem-10523	41	40	shifted	shift	VERB
fbem-10523	41	41	its	its	PRON
fbem-10523	41	42	attention	attention	NOUN
fbem-10523	41	43	to	to	ADP
fbem-10523	41	44	the	the	DET
fbem-10523	41	45	offline	offline	ADJ
fbem-10523	41	46	industry	industry	NOUN
fbem-10523	41	47	,	,	PUNCT
fbem-10523	41	48	forming	form	VERB
fbem-10523	41	49	a	a	DET
fbem-10523	41	50	"	"	PUNCT
fbem-10523	41	51	new	new	ADJ
fbem-10523	41	52	retail	retail	NOUN
fbem-10523	41	53	"	"	PUNCT
fbem-10523	41	54	model	model	NOUN
fbem-10523	41	55	development	development	NOUN
fbem-10523	41	56	wave	wave	NOUN
fbem-10523	41	57	of	of	ADP
fbem-10523	41	58	online	online	ADJ
fbem-10523	41	59	and	and	CCONJ
fbem-10523	41	60	offline	offline	ADJ
fbem-10523	41	61	integration	integration	NOUN
fbem-10523	41	62	.	.	PUNCT
fbem-10523	42	1	faced	face	VERB
fbem-10523	42	2	with	with	ADP
fbem-10523	42	3	this	this	DET
fbem-10523	42	4	market	market	NOUN
fbem-10523	42	5	pattern	pattern	NOUN
fbem-10523	42	6	,	,	PUNCT
fbem-10523	42	7	suning	sun	VERB
fbem-10523	42	8	must	must	AUX
fbem-10523	42	9	seize	seize	VERB
fbem-10523	42	10	the	the	DET
fbem-10523	42	11	opportunity	opportunity	NOUN
fbem-10523	42	12	of	of	ADP
fbem-10523	42	13	this	this	DET
fbem-10523	42	14	strategic	strategic	ADJ
fbem-10523	42	15	transformation	transformation	NOUN
fbem-10523	42	16	and	and	CCONJ
fbem-10523	42	17	expand	expand	VERB
fbem-10523	42	18	its	its	PRON
fbem-10523	42	19	scope	scope	NOUN
fbem-10523	42	20	of	of	ADP
fbem-10523	42	21	influence	influence	NOUN
fbem-10523	42	22	to	to	PART
fbem-10523	42	23	gain	gain	VERB
fbem-10523	42	24	market	market	NOUN
fbem-10523	42	25	share	share	NOUN
fbem-10523	42	26	through	through	ADP
fbem-10523	42	27	mergers	merger	NOUN
fbem-10523	42	28	and	and	CCONJ
fbem-10523	42	29	acquisitions	acquisition	NOUN
fbem-10523	42	30	.	.	PUNCT
fbem-10523	43	1	the	the	DET
fbem-10523	43	2	"	"	PUNCT
fbem-10523	43	3	smart	smart	ADJ
fbem-10523	43	4	retail	retail	NOUN
fbem-10523	43	5	"	"	PUNCT
fbem-10523	43	6	proposed	propose	VERB
fbem-10523	43	7	by	by	ADP
fbem-10523	43	8	suning	sun	VERB
fbem-10523	43	9	in	in	ADP
fbem-10523	43	10	2017	2017	NUM
fbem-10523	43	11	is	be	AUX
fbem-10523	43	12	in	in	ADP
fbem-10523	43	13	line	line	NOUN
fbem-10523	43	14	with	with	ADP
fbem-10523	43	15	the	the	DET
fbem-10523	43	16	development	development	NOUN
fbem-10523	43	17	background	background	NOUN
fbem-10523	43	18	of	of	ADP
fbem-10523	43	19	today	today	NOUN
fbem-10523	43	20	's	's	PART
fbem-10523	43	21	retail	retail	ADJ
fbem-10523	43	22	industry	industry	NOUN
fbem-10523	43	23	.	.	PUNCT
fbem-10523	44	1	by	by	ADP
fbem-10523	44	2	using	use	VERB
fbem-10523	44	3	technologies	technology	NOUN
fbem-10523	44	4	such	such	ADJ
fbem-10523	44	5	as	as	ADP
fbem-10523	44	6	the	the	DET
fbem-10523	44	7	internet	internet	NOUN
fbem-10523	44	8	,	,	PUNCT
fbem-10523	44	9	the	the	DET
fbem-10523	44	10	internet	internet	NOUN
fbem-10523	44	11	of	of	ADP
fbem-10523	44	12	things	thing	NOUN
fbem-10523	44	13	and	and	CCONJ
fbem-10523	44	14	big	big	ADJ
fbem-10523	44	15	data	datum	NOUN
fbem-10523	44	16	,	,	PUNCT
fbem-10523	44	17	"	"	PUNCT
fbem-10523	44	18	smart	smart	ADJ
fbem-10523	44	19	retail	retail	NOUN
fbem-10523	44	20	"	"	PUNCT
fbem-10523	44	21	takes	take	VERB
fbem-10523	44	22	consumers	consumer	NOUN
fbem-10523	44	23	as	as	SCONJ
fbem-10523	44	24	the	the	DET
fbem-10523	44	25	core	core	NOUN
fbem-10523	44	26	to	to	PART
fbem-10523	44	27	predict	predict	VERB
fbem-10523	44	28	group	group	NOUN
fbem-10523	44	29	consumption	consumption	NOUN
fbem-10523	44	30	trends	trend	NOUN
fbem-10523	44	31	according	accord	VERB
fbem-10523	44	32	to	to	ADP
fbem-10523	44	33	their	their	PRON
fbem-10523	44	34	consumption	consumption	NOUN
fbem-10523	44	35	habits	habit	NOUN
fbem-10523	44	36	,	,	PUNCT
fbem-10523	44	37	and	and	CCONJ
fbem-10523	44	38	deeply	deeply	ADV
fbem-10523	44	39	integrates	integrate	VERB
fbem-10523	44	40	online	online	ADJ
fbem-10523	44	41	shopping	shopping	NOUN
fbem-10523	44	42	services	service	NOUN
fbem-10523	44	43	with	with	ADP
fbem-10523	44	44	offline	offline	ADJ
fbem-10523	44	45	shopping	shopping	NOUN
fbem-10523	44	46	experience	experience	NOUN
fbem-10523	44	47	and	and	CCONJ
fbem-10523	44	48	logistics	logistic	NOUN
fbem-10523	44	49	distribution	distribution	NOUN
fbem-10523	44	50	.	.	PUNCT
fbem-10523	45	1	to	to	PART
fbem-10523	45	2	provide	provide	VERB
fbem-10523	45	3	them	they	PRON
fbem-10523	45	4	with	with	ADP
fbem-10523	45	5	diversified	diversified	ADJ
fbem-10523	45	6	,	,	PUNCT
fbem-10523	45	7	specialized	specialized	ADJ
fbem-10523	45	8	and	and	CCONJ
fbem-10523	45	9	personalized	personalized	ADJ
fbem-10523	45	10	products	product	NOUN
fbem-10523	45	11	or	or	CCONJ
fbem-10523	45	12	services	service	NOUN
fbem-10523	45	13	.	.	PUNCT
fbem-10523	46	1	as	as	ADP
fbem-10523	46	2	a	a	DET
fbem-10523	46	3	wellknown	wellknown	ADJ
fbem-10523	46	4	supermarket	supermarket	NOUN
fbem-10523	46	5	chain	chain	NOUN
fbem-10523	46	6	in	in	ADP
fbem-10523	46	7	china	china	PROPN
fbem-10523	46	8	,	,	PUNCT
fbem-10523	46	9	carrefour	carrefour	NOUN
fbem-10523	46	10	has	have	AUX
fbem-10523	46	11	been	be	AUX
fbem-10523	46	12	suffering	suffer	VERB
fbem-10523	46	13	from	from	ADP
fbem-10523	46	14	the	the	DET
fbem-10523	46	15	double	double	ADJ
fbem-10523	46	16	impact	impact	NOUN
fbem-10523	46	17	of	of	ADP
fbem-10523	46	18	the	the	DET
fbem-10523	46	19	epidemic	epidemic	NOUN
fbem-10523	46	20	and	and	CCONJ
fbem-10523	46	21	ecommerce	ecommerce	NOUN
fbem-10523	46	22	,	,	PUNCT
fbem-10523	46	23	and	and	CCONJ
fbem-10523	46	24	its	its	PRON
fbem-10523	46	25	turnover	turnover	NOUN
fbem-10523	46	26	has	have	AUX
fbem-10523	46	27	been	be	AUX
fbem-10523	46	28	in	in	ADP
fbem-10523	46	29	a	a	DET
fbem-10523	46	30	state	state	NOUN
fbem-10523	46	31	of	of	ADP
fbem-10523	46	32	loss	loss	NOUN
fbem-10523	46	33	.	.	PUNCT
fbem-10523	47	1	therefore	therefore	ADV
fbem-10523	47	2	,	,	PUNCT
fbem-10523	47	3	for	for	ADP
fbem-10523	47	4	suning	suning	NOUN
fbem-10523	47	5	,	,	PUNCT
fbem-10523	47	6	the	the	DET
fbem-10523	47	7	acquisition	acquisition	NOUN
fbem-10523	47	8	of	of	ADP
fbem-10523	47	9	carrefour	carrefour	NOUN
fbem-10523	47	10	can	can	AUX
fbem-10523	47	11	not	not	PART
fbem-10523	47	12	only	only	ADV
fbem-10523	47	13	cause	cause	VERB
fbem-10523	47	14	losses	loss	NOUN
fbem-10523	47	15	,	,	PUNCT
fbem-10523	47	16	but	but	CCONJ
fbem-10523	47	17	also	also	ADV
fbem-10523	47	18	is	be	AUX
fbem-10523	47	19	the	the	DET
fbem-10523	47	20	best	good	ADJ
fbem-10523	47	21	choice	choice	NOUN
fbem-10523	47	22	for	for	ADP
fbem-10523	47	23	its	its	PRON
fbem-10523	47	24	layout	layout	NOUN
fbem-10523	47	25	of	of	ADP
fbem-10523	47	26	"	"	PUNCT
fbem-10523	47	27	smart	smart	ADJ
fbem-10523	47	28	retail	retail	NOUN
fbem-10523	47	29	"	"	PUNCT
fbem-10523	47	30	strategy	strategy	NOUN
fbem-10523	47	31	.	.	PUNCT
fbem-10523	48	1	4.2	4.2	NUM
fbem-10523	48	2	.	.	X
fbem-10523	48	3	avoid	avoid	VERB
fbem-10523	48	4	barriers	barrier	NOUN
fbem-10523	48	5	to	to	ADP
fbem-10523	48	6	entry	entry	NOUN
fbem-10523	48	7	although	although	SCONJ
fbem-10523	48	8	suning	sun	VERB
fbem-10523	48	9	tesco	tesco	PROPN
fbem-10523	48	10	and	and	CCONJ
fbem-10523	48	11	carrefour	carrefour	NOUN
fbem-10523	48	12	are	be	AUX
fbem-10523	48	13	both	both	PRON
fbem-10523	48	14	in	in	ADP
fbem-10523	48	15	the	the	DET
fbem-10523	48	16	retail	retail	ADJ
fbem-10523	48	17	industry	industry	NOUN
fbem-10523	48	18	,	,	PUNCT
fbem-10523	48	19	one	one	NUM
fbem-10523	48	20	is	be	AUX
fbem-10523	48	21	the	the	DET
fbem-10523	48	22	e	e	NOUN
fbem-10523	48	23	-	-	NOUN
fbem-10523	48	24	commerce	commerce	NOUN
fbem-10523	48	25	and	and	CCONJ
fbem-10523	48	26	the	the	DET
fbem-10523	48	27	other	other	ADJ
fbem-10523	48	28	is	be	AUX
fbem-10523	48	29	the	the	DET
fbem-10523	48	30	traditional	traditional	ADJ
fbem-10523	48	31	retail	retail	ADJ
fbem-10523	48	32	industry	industry	NOUN
fbem-10523	48	33	,	,	PUNCT
fbem-10523	48	34	and	and	CCONJ
fbem-10523	48	35	their	their	PRON
fbem-10523	48	36	audience	audience	NOUN
fbem-10523	48	37	groups	group	NOUN
fbem-10523	48	38	are	be	AUX
fbem-10523	48	39	very	very	ADV
fbem-10523	48	40	different	different	ADJ
fbem-10523	48	41	.	.	PUNCT
fbem-10523	49	1	in	in	ADP
fbem-10523	49	2	this	this	DET
fbem-10523	49	3	case	case	NOUN
fbem-10523	49	4	,	,	PUNCT
fbem-10523	49	5	suning	suning	NOUN
fbem-10523	49	6	is	be	AUX
fbem-10523	49	7	faced	face	VERB
fbem-10523	49	8	with	with	ADP
fbem-10523	49	9	many	many	ADJ
fbem-10523	49	10	industry	industry	NOUN
fbem-10523	49	11	barriers	barrier	NOUN
fbem-10523	49	12	to	to	PART
fbem-10523	49	13	enter	enter	VERB
fbem-10523	49	14	such	such	DET
fbem-10523	49	15	a	a	DET
fbem-10523	49	16	new	new	ADJ
fbem-10523	49	17	field	field	NOUN
fbem-10523	49	18	,	,	PUNCT
fbem-10523	49	19	and	and	CCONJ
fbem-10523	49	20	mergers	merger	NOUN
fbem-10523	49	21	and	and	CCONJ
fbem-10523	49	22	acquisitions	acquisition	NOUN
fbem-10523	49	23	are	be	AUX
fbem-10523	49	24	the	the	DET
fbem-10523	49	25	usual	usual	ADJ
fbem-10523	49	26	means	mean	NOUN
fbem-10523	49	27	to	to	PART
fbem-10523	49	28	break	break	VERB
fbem-10523	49	29	the	the	DET
fbem-10523	49	30	barriers	barrier	NOUN
fbem-10523	49	31	.	.	PUNCT
fbem-10523	50	1	on	on	ADP
fbem-10523	50	2	the	the	DET
fbem-10523	50	3	one	one	NUM
fbem-10523	50	4	hand	hand	NOUN
fbem-10523	50	5	,	,	PUNCT
fbem-10523	50	6	carrefour	carrefour	NOUN
fbem-10523	50	7	has	have	VERB
fbem-10523	50	8	unique	unique	ADJ
fbem-10523	50	9	views	view	NOUN
fbem-10523	50	10	on	on	ADP
fbem-10523	50	11	offline	offline	ADJ
fbem-10523	50	12	retail	retail	ADJ
fbem-10523	50	13	operations	operation	NOUN
fbem-10523	50	14	,	,	PUNCT
fbem-10523	50	15	and	and	CCONJ
fbem-10523	50	16	has	have	VERB
fbem-10523	50	17	perfect	perfect	ADJ
fbem-10523	50	18	supply	supply	NOUN
fbem-10523	50	19	chain	chain	NOUN
fbem-10523	50	20	and	and	CCONJ
fbem-10523	50	21	management	management	NOUN
fbem-10523	50	22	experience	experience	NOUN
fbem-10523	50	23	.	.	PUNCT
fbem-10523	51	1	it	it	PRON
fbem-10523	51	2	can	can	AUX
fbem-10523	51	3	directly	directly	ADV
fbem-10523	51	4	acquire	acquire	VERB
fbem-10523	51	5	its	its	PRON
fbem-10523	51	6	offline	offline	ADJ
fbem-10523	51	7	management	management	NOUN
fbem-10523	51	8	experience	experience	NOUN
fbem-10523	51	9	through	through	ADP
fbem-10523	51	10	mergers	merger	NOUN
fbem-10523	51	11	and	and	CCONJ
fbem-10523	51	12	acquisitions	acquisition	NOUN
fbem-10523	51	13	to	to	PART
fbem-10523	51	14	break	break	VERB
fbem-10523	51	15	technical	technical	ADJ
fbem-10523	51	16	barriers	barrier	NOUN
fbem-10523	51	17	.	.	PUNCT
fbem-10523	52	1	on	on	ADP
fbem-10523	52	2	the	the	DET
fbem-10523	52	3	other	other	ADJ
fbem-10523	52	4	hand	hand	NOUN
fbem-10523	52	5	,	,	PUNCT
fbem-10523	52	6	carrefour	carrefour	NOUN
fbem-10523	52	7	directly	directly	ADV
fbem-10523	52	8	obtains	obtain	VERB
fbem-10523	52	9	the	the	DET
fbem-10523	52	10	customer	customer	NOUN
fbem-10523	52	11	group	group	NOUN
fbem-10523	52	12	.	.	PUNCT
fbem-10523	53	1	as	as	ADP
fbem-10523	53	2	a	a	DET
fbem-10523	53	3	wellknown	wellknown	ADJ
fbem-10523	53	4	old	old	ADJ
fbem-10523	53	5	supermarket	supermarket	NOUN
fbem-10523	53	6	chain	chain	NOUN
fbem-10523	53	7	,	,	PUNCT
fbem-10523	53	8	carrefour	carrefour	NOUN
fbem-10523	53	9	's	's	PART
fbem-10523	53	10	reputation	reputation	NOUN
fbem-10523	53	11	is	be	AUX
fbem-10523	53	12	deeply	deeply	ADV
fbem-10523	53	13	rooted	rooted	ADJ
fbem-10523	53	14	in	in	ADP
fbem-10523	53	15	the	the	DET
fbem-10523	53	16	hearts	heart	NOUN
fbem-10523	53	17	of	of	ADP
fbem-10523	53	18	the	the	DET
fbem-10523	53	19	people	people	NOUN
fbem-10523	53	20	.	.	PUNCT
fbem-10523	54	1	customers	customer	NOUN
fbem-10523	54	2	are	be	AUX
fbem-10523	54	3	the	the	DET
fbem-10523	54	4	guarantee	guarantee	NOUN
fbem-10523	54	5	of	of	ADP
fbem-10523	54	6	sales	sale	NOUN
fbem-10523	54	7	,	,	PUNCT
fbem-10523	54	8	and	and	CCONJ
fbem-10523	54	9	sales	sale	NOUN
fbem-10523	54	10	are	be	AUX
fbem-10523	54	11	the	the	DET
fbem-10523	54	12	measure	measure	NOUN
fbem-10523	54	13	of	of	ADP
fbem-10523	54	14	survival	survival	NOUN
fbem-10523	54	15	of	of	ADP
fbem-10523	54	16	the	the	DET
fbem-10523	54	17	retail	retail	ADJ
fbem-10523	54	18	industry	industry	NOUN
fbem-10523	54	19	.	.	PUNCT
fbem-10523	55	1	so	so	ADV
fbem-10523	55	2	far	far	ADV
fbem-10523	55	3	,	,	PUNCT
fbem-10523	55	4	the	the	DET
fbem-10523	55	5	number	number	NOUN
fbem-10523	55	6	of	of	ADP
fbem-10523	55	7	carrefour	carrefour	NOUN
fbem-10523	55	8	members	member	NOUN
fbem-10523	55	9	in	in	ADP
fbem-10523	55	10	china	china	PROPN
fbem-10523	55	11	has	have	AUX
fbem-10523	55	12	reached	reach	VERB
fbem-10523	55	13	30	30	NUM
fbem-10523	55	14	million	million	NUM
fbem-10523	55	15	,	,	PUNCT
fbem-10523	55	16	and	and	CCONJ
fbem-10523	55	17	suning	sun	VERB
fbem-10523	55	18	can	can	AUX
fbem-10523	55	19	gain	gain	VERB
fbem-10523	55	20	direct	direct	ADJ
fbem-10523	55	21	access	access	NOUN
fbem-10523	55	22	to	to	ADP
fbem-10523	55	23	a	a	DET
fbem-10523	55	24	large	large	ADJ
fbem-10523	55	25	number	number	NOUN
fbem-10523	55	26	of	of	ADP
fbem-10523	55	27	consumers	consumer	NOUN
fbem-10523	55	28	through	through	ADP
fbem-10523	55	29	the	the	DET
fbem-10523	55	30	acquisition	acquisition	NOUN
fbem-10523	55	31	of	of	ADP
fbem-10523	55	32	carrefour	carrefour	NOUN
fbem-10523	55	33	,	,	PUNCT
fbem-10523	55	34	thus	thus	ADV
fbem-10523	55	35	overcoming	overcome	VERB
fbem-10523	55	36	the	the	DET
fbem-10523	55	37	problem	problem	NOUN
fbem-10523	55	38	of	of	ADP
fbem-10523	55	39	entry	entry	NOUN
fbem-10523	55	40	barriers	barrier	NOUN
fbem-10523	55	41	.	.	PUNCT
fbem-10523	56	1	4.3	4.3	NUM
fbem-10523	56	2	.	.	PUNCT
fbem-10523	57	1	gain	gain	VERB
fbem-10523	57	2	synergy	synergy	NOUN
fbem-10523	57	3	the	the	DET
fbem-10523	57	4	synergy	synergy	NOUN
fbem-10523	57	5	effect	effect	NOUN
fbem-10523	57	6	of	of	ADP
fbem-10523	57	7	merger	merger	NOUN
fbem-10523	57	8	and	and	CCONJ
fbem-10523	57	9	acquisition	acquisition	NOUN
fbem-10523	57	10	is	be	AUX
fbem-10523	57	11	one	one	NUM
fbem-10523	57	12	of	of	ADP
fbem-10523	57	13	the	the	DET
fbem-10523	57	14	56	56	NUM
fbem-10523	57	15	most	most	ADV
fbem-10523	57	16	important	important	ADJ
fbem-10523	57	17	reasons	reason	NOUN
fbem-10523	57	18	for	for	ADP
fbem-10523	57	19	enterprises	enterprise	NOUN
fbem-10523	57	20	to	to	PART
fbem-10523	57	21	carry	carry	VERB
fbem-10523	57	22	out	out	ADP
fbem-10523	57	23	merger	merger	NOUN
fbem-10523	57	24	and	and	CCONJ
fbem-10523	57	25	acquisition	acquisition	NOUN
fbem-10523	57	26	.	.	PUNCT
fbem-10523	58	1	the	the	DET
fbem-10523	58	2	success	success	NOUN
fbem-10523	58	3	of	of	ADP
fbem-10523	58	4	merger	merger	NOUN
fbem-10523	58	5	and	and	CCONJ
fbem-10523	58	6	acquisition	acquisition	NOUN
fbem-10523	58	7	can	can	AUX
fbem-10523	58	8	integrate	integrate	VERB
fbem-10523	58	9	the	the	DET
fbem-10523	58	10	human	human	NOUN
fbem-10523	58	11	,	,	PUNCT
fbem-10523	58	12	material	material	NOUN
fbem-10523	58	13	and	and	CCONJ
fbem-10523	58	14	financial	financial	ADJ
fbem-10523	58	15	resources	resource	NOUN
fbem-10523	58	16	of	of	ADP
fbem-10523	58	17	two	two	NUM
fbem-10523	58	18	enterprises	enterprise	NOUN
fbem-10523	58	19	,	,	PUNCT
fbem-10523	58	20	so	so	SCONJ
fbem-10523	58	21	as	as	SCONJ
fbem-10523	58	22	to	to	PART
fbem-10523	58	23	achieve	achieve	VERB
fbem-10523	58	24	the	the	DET
fbem-10523	58	25	effect	effect	NOUN
fbem-10523	58	26	of	of	ADP
fbem-10523	58	27	one	one	NUM
fbem-10523	58	28	plus	plus	CCONJ
fbem-10523	58	29	one	one	NUM
fbem-10523	58	30	greater	great	ADJ
fbem-10523	58	31	than	than	ADP
fbem-10523	58	32	two	two	NUM
fbem-10523	58	33	.	.	PUNCT
fbem-10523	59	1	suning	sun	VERB
fbem-10523	59	2	's	's	PART
fbem-10523	59	3	acquisition	acquisition	NOUN
fbem-10523	59	4	of	of	ADP
fbem-10523	59	5	carrefour	carrefour	NOUN
fbem-10523	59	6	is	be	AUX
fbem-10523	59	7	intended	intend	VERB
fbem-10523	59	8	to	to	PART
fbem-10523	59	9	have	have	VERB
fbem-10523	59	10	this	this	DET
fbem-10523	59	11	effect	effect	NOUN
fbem-10523	59	12	.	.	PUNCT
fbem-10523	60	1	it	it	PRON
fbem-10523	60	2	is	be	AUX
fbem-10523	60	3	specifically	specifically	ADV
fbem-10523	60	4	reflected	reflect	VERB
fbem-10523	60	5	in	in	ADP
fbem-10523	60	6	the	the	DET
fbem-10523	60	7	following	follow	VERB
fbem-10523	60	8	three	three	NUM
fbem-10523	60	9	aspects	aspect	NOUN
fbem-10523	60	10	:	:	PUNCT
fbem-10523	60	11	in	in	ADP
fbem-10523	60	12	terms	term	NOUN
fbem-10523	60	13	of	of	ADP
fbem-10523	60	14	operation	operation	NOUN
fbem-10523	60	15	coordination	coordination	NOUN
fbem-10523	60	16	,	,	PUNCT
fbem-10523	60	17	mature	mature	ADJ
fbem-10523	60	18	supply	supply	NOUN
fbem-10523	60	19	chain	chain	NOUN
fbem-10523	60	20	is	be	AUX
fbem-10523	60	21	the	the	DET
fbem-10523	60	22	top	top	ADJ
fbem-10523	60	23	priority	priority	NOUN
fbem-10523	60	24	for	for	ADP
fbem-10523	60	25	the	the	DET
fbem-10523	60	26	retail	retail	ADJ
fbem-10523	60	27	industry	industry	NOUN
fbem-10523	60	28	.	.	PUNCT
fbem-10523	61	1	through	through	ADP
fbem-10523	61	2	the	the	DET
fbem-10523	61	3	integration	integration	NOUN
fbem-10523	61	4	of	of	ADP
fbem-10523	61	5	suning	suning	NOUN
fbem-10523	61	6	and	and	CCONJ
fbem-10523	61	7	carrefour	carrefour	NOUN
fbem-10523	61	8	offline	offline	ADJ
fbem-10523	61	9	stores	store	NOUN
fbem-10523	61	10	,	,	PUNCT
fbem-10523	61	11	carrefour	carrefour	PROPN
fbem-10523	61	12	china	china	PROPN
fbem-10523	61	13	's	's	PART
fbem-10523	61	14	eight	eight	NUM
fbem-10523	61	15	central	central	ADJ
fbem-10523	61	16	warehouses	warehouse	NOUN
fbem-10523	61	17	cover	cover	VERB
fbem-10523	61	18	dozens	dozen	NOUN
fbem-10523	61	19	of	of	ADP
fbem-10523	61	20	cities	city	NOUN
fbem-10523	61	21	across	across	ADP
fbem-10523	61	22	the	the	DET
fbem-10523	61	23	country	country	NOUN
fbem-10523	61	24	,	,	PUNCT
fbem-10523	61	25	improving	improve	VERB
fbem-10523	61	26	the	the	DET
fbem-10523	61	27	construction	construction	NOUN
fbem-10523	61	28	of	of	ADP
fbem-10523	61	29	the	the	DET
fbem-10523	61	30	national	national	ADJ
fbem-10523	61	31	supply	supply	NOUN
fbem-10523	61	32	chain	chain	NOUN
fbem-10523	61	33	warehousing	warehousing	NOUN
fbem-10523	61	34	and	and	CCONJ
fbem-10523	61	35	distribution	distribution	NOUN
fbem-10523	61	36	network	network	NOUN
fbem-10523	61	37	,	,	PUNCT
fbem-10523	61	38	and	and	CCONJ
fbem-10523	61	39	giving	give	VERB
fbem-10523	61	40	full	full	ADJ
fbem-10523	61	41	play	play	NOUN
fbem-10523	61	42	to	to	ADP
fbem-10523	61	43	the	the	DET
fbem-10523	61	44	advantages	advantage	NOUN
fbem-10523	61	45	of	of	ADP
fbem-10523	61	46	supply	supply	NOUN
fbem-10523	61	47	chain	chain	NOUN
fbem-10523	61	48	;	;	PUNCT
fbem-10523	61	49	in	in	ADP
fbem-10523	61	50	terms	term	NOUN
fbem-10523	61	51	of	of	ADP
fbem-10523	61	52	business	business	NOUN
fbem-10523	61	53	cooperation	cooperation	NOUN
fbem-10523	61	54	,	,	PUNCT
fbem-10523	61	55	suning	sun	VERB
fbem-10523	61	56	is	be	AUX
fbem-10523	61	57	an	an	DET
fbem-10523	61	58	online	online	ADJ
fbem-10523	61	59	ecommerce	ecommerce	NOUN
fbem-10523	61	60	enterprise	enterprise	NOUN
fbem-10523	61	61	,	,	PUNCT
fbem-10523	61	62	while	while	SCONJ
fbem-10523	61	63	carrefour	carrefour	NOUN
fbem-10523	61	64	,	,	PUNCT
fbem-10523	61	65	as	as	ADP
fbem-10523	61	66	an	an	DET
fbem-10523	61	67	established	establish	VERB
fbem-10523	61	68	offline	offline	ADJ
fbem-10523	61	69	supermarket	supermarket	NOUN
fbem-10523	61	70	chain	chain	NOUN
fbem-10523	61	71	,	,	PUNCT
fbem-10523	61	72	has	have	VERB
fbem-10523	61	73	sufficient	sufficient	ADJ
fbem-10523	61	74	management	management	NOUN
fbem-10523	61	75	experience	experience	NOUN
fbem-10523	61	76	in	in	ADP
fbem-10523	61	77	the	the	DET
fbem-10523	61	78	real	real	ADJ
fbem-10523	61	79	economy	economy	NOUN
fbem-10523	61	80	.	.	PUNCT
fbem-10523	62	1	in	in	ADP
fbem-10523	62	2	addition	addition	NOUN
fbem-10523	62	3	,	,	PUNCT
fbem-10523	62	4	as	as	ADP
fbem-10523	62	5	a	a	DET
fbem-10523	62	6	foreign	foreign	ADJ
fbem-10523	62	7	enterprise	enterprise	NOUN
fbem-10523	62	8	,	,	PUNCT
fbem-10523	62	9	suning	sun	VERB
fbem-10523	62	10	can	can	AUX
fbem-10523	62	11	learn	learn	VERB
fbem-10523	62	12	from	from	ADP
fbem-10523	62	13	the	the	DET
fbem-10523	62	14	western	western	ADJ
fbem-10523	62	15	business	business	NOUN
fbem-10523	62	16	philosophy	philosophy	NOUN
fbem-10523	62	17	and	and	CCONJ
fbem-10523	62	18	lay	lay	VERB
fbem-10523	62	19	the	the	DET
fbem-10523	62	20	groundwork	groundwork	NOUN
fbem-10523	62	21	for	for	ADP
fbem-10523	62	22	opening	open	VERB
fbem-10523	62	23	foreign	foreign	ADJ
fbem-10523	62	24	markets	market	NOUN
fbem-10523	62	25	.	.	PUNCT
fbem-10523	63	1	in	in	ADP
fbem-10523	63	2	terms	term	NOUN
fbem-10523	63	3	of	of	ADP
fbem-10523	63	4	financial	financial	ADJ
fbem-10523	63	5	coordination	coordination	NOUN
fbem-10523	63	6	,	,	PUNCT
fbem-10523	63	7	carrefour	carrefour	NOUN
fbem-10523	63	8	has	have	AUX
fbem-10523	63	9	suffered	suffer	VERB
fbem-10523	63	10	losses	loss	NOUN
fbem-10523	63	11	for	for	ADP
fbem-10523	63	12	years	year	NOUN
fbem-10523	63	13	,	,	PUNCT
fbem-10523	63	14	and	and	CCONJ
fbem-10523	63	15	the	the	DET
fbem-10523	63	16	continuing	continue	VERB
fbem-10523	63	17	operation	operation	NOUN
fbem-10523	63	18	situation	situation	NOUN
fbem-10523	63	19	is	be	AUX
fbem-10523	63	20	not	not	PART
fbem-10523	63	21	optimistic	optimistic	ADJ
fbem-10523	63	22	.	.	PUNCT
fbem-10523	64	1	in	in	ADP
fbem-10523	64	2	this	this	DET
fbem-10523	64	3	situation	situation	NOUN
fbem-10523	64	4	,	,	PUNCT
fbem-10523	64	5	suning	sun	VERB
fbem-10523	64	6	's	's	PART
fbem-10523	64	7	acquisition	acquisition	NOUN
fbem-10523	64	8	of	of	ADP
fbem-10523	64	9	carrefour	carrefour	NOUN
fbem-10523	64	10	has	have	VERB
fbem-10523	64	11	certain	certain	ADJ
fbem-10523	64	12	bargaining	bargaining	NOUN
fbem-10523	64	13	power	power	NOUN
fbem-10523	64	14	,	,	PUNCT
fbem-10523	64	15	and	and	CCONJ
fbem-10523	64	16	it	it	PRON
fbem-10523	64	17	can	can	AUX
fbem-10523	64	18	use	use	VERB
fbem-10523	64	19	its	its	PRON
fbem-10523	64	20	losses	loss	NOUN
fbem-10523	64	21	to	to	PART
fbem-10523	64	22	carry	carry	VERB
fbem-10523	64	23	out	out	ADP
fbem-10523	64	24	reasonable	reasonable	ADJ
fbem-10523	64	25	tax	tax	NOUN
fbem-10523	64	26	avoidance	avoidance	NOUN
fbem-10523	64	27	,	,	PUNCT
fbem-10523	64	28	in	in	ADP
fbem-10523	64	29	addition	addition	NOUN
fbem-10523	64	30	,	,	PUNCT
fbem-10523	64	31	it	it	PRON
fbem-10523	64	32	can	can	AUX
fbem-10523	64	33	expand	expand	VERB
fbem-10523	64	34	its	its	PRON
fbem-10523	64	35	business	business	NOUN
fbem-10523	64	36	scope	scope	NOUN
fbem-10523	64	37	to	to	PART
fbem-10523	64	38	increase	increase	VERB
fbem-10523	64	39	sales	sale	NOUN
fbem-10523	64	40	revenue	revenue	NOUN
fbem-10523	64	41	.	.	PUNCT
fbem-10523	65	1	5	5	X
fbem-10523	65	2	.	.	X
fbem-10523	65	3	merger	merger	NOUN
fbem-10523	65	4	and	and	CCONJ
fbem-10523	65	5	acquisition	acquisition	NOUN
fbem-10523	65	6	risk	risk	NOUN
fbem-10523	65	7	analysis	analysis	NOUN
fbem-10523	65	8	5.1	5.1	NUM
fbem-10523	65	9	.	.	PUNCT
fbem-10523	66	1	m&a	m&a	PROPN
fbem-10523	66	2	preparation	preparation	NOUN
fbem-10523	66	3	stage	stage	NOUN
fbem-10523	66	4	valuation	valuation	NOUN
fbem-10523	66	5	risk	risk	NOUN
fbem-10523	66	6	generally	generally	ADV
fbem-10523	66	7	,	,	PUNCT
fbem-10523	66	8	before	before	ADP
fbem-10523	66	9	the	the	DET
fbem-10523	66	10	merger	merger	NOUN
fbem-10523	66	11	and	and	CCONJ
fbem-10523	66	12	acquisition	acquisition	NOUN
fbem-10523	66	13	,	,	PUNCT
fbem-10523	66	14	the	the	DET
fbem-10523	66	15	enterprise	enterprise	NOUN
fbem-10523	66	16	will	will	AUX
fbem-10523	66	17	pay	pay	VERB
fbem-10523	66	18	the	the	DET
fbem-10523	66	19	consideration	consideration	NOUN
fbem-10523	66	20	according	accord	VERB
fbem-10523	66	21	to	to	ADP
fbem-10523	66	22	the	the	DET
fbem-10523	66	23	financial	financial	ADJ
fbem-10523	66	24	statements	statement	NOUN
fbem-10523	66	25	,	,	PUNCT
fbem-10523	66	26	operating	operating	NOUN
fbem-10523	66	27	conditions	condition	NOUN
fbem-10523	66	28	and	and	CCONJ
fbem-10523	66	29	cash	cash	NOUN
fbem-10523	66	30	flow	flow	NOUN
fbem-10523	66	31	of	of	ADP
fbem-10523	66	32	the	the	DET
fbem-10523	66	33	target	target	NOUN
fbem-10523	66	34	enterprise	enterprise	NOUN
fbem-10523	66	35	.	.	PUNCT
fbem-10523	67	1	effective	effective	ADJ
fbem-10523	67	2	evaluation	evaluation	NOUN
fbem-10523	67	3	can	can	AUX
fbem-10523	67	4	enable	enable	VERB
fbem-10523	67	5	enterprises	enterprise	NOUN
fbem-10523	67	6	to	to	PART
fbem-10523	67	7	achieve	achieve	VERB
fbem-10523	67	8	m&a	m&a	PROPN
fbem-10523	67	9	activities	activity	NOUN
fbem-10523	67	10	at	at	ADP
fbem-10523	67	11	less	less	ADJ
fbem-10523	67	12	cost	cost	NOUN
fbem-10523	67	13	,	,	PUNCT
fbem-10523	67	14	on	on	ADP
fbem-10523	67	15	the	the	DET
fbem-10523	67	16	contrary	contrary	ADJ
fbem-10523	67	17	,	,	PUNCT
fbem-10523	67	18	excessive	excessive	ADJ
fbem-10523	67	19	valuation	valuation	NOUN
fbem-10523	67	20	,	,	PUNCT
fbem-10523	67	21	that	that	ADV
fbem-10523	67	22	is	is	ADV
fbem-10523	67	23	,	,	PUNCT
fbem-10523	67	24	paying	pay	VERB
fbem-10523	67	25	a	a	DET
fbem-10523	67	26	higher	high	ADJ
fbem-10523	67	27	premium	premium	NOUN
fbem-10523	67	28	,	,	PUNCT
fbem-10523	67	29	will	will	AUX
fbem-10523	67	30	aggravate	aggravate	VERB
fbem-10523	67	31	the	the	DET
fbem-10523	67	32	liabilities	liability	NOUN
fbem-10523	67	33	of	of	ADP
fbem-10523	67	34	enterprises	enterprise	NOUN
fbem-10523	67	35	and	and	CCONJ
fbem-10523	67	36	thus	thus	ADV
fbem-10523	67	37	increase	increase	VERB
fbem-10523	67	38	financial	financial	ADJ
fbem-10523	67	39	risks	risk	NOUN
fbem-10523	67	40	,	,	PUNCT
fbem-10523	67	41	affecting	affect	VERB
fbem-10523	67	42	the	the	DET
fbem-10523	67	43	normal	normal	ADJ
fbem-10523	67	44	operation	operation	NOUN
fbem-10523	67	45	of	of	ADP
fbem-10523	67	46	enterprises	enterprise	NOUN
fbem-10523	67	47	.	.	PUNCT
fbem-10523	68	1	on	on	ADP
fbem-10523	68	2	the	the	DET
fbem-10523	68	3	one	one	NUM
fbem-10523	68	4	hand	hand	NOUN
fbem-10523	68	5	,	,	PUNCT
fbem-10523	68	6	according	accord	VERB
fbem-10523	68	7	to	to	ADP
fbem-10523	68	8	the	the	DET
fbem-10523	68	9	theory	theory	NOUN
fbem-10523	68	10	of	of	ADP
fbem-10523	68	11	information	information	NOUN
fbem-10523	68	12	asymmetry	asymmetry	NOUN
fbem-10523	68	13	,	,	PUNCT
fbem-10523	68	14	suning	sun	VERB
fbem-10523	68	15	tesco	tesco	PROPN
fbem-10523	68	16	inevitably	inevitably	ADV
fbem-10523	68	17	has	have	VERB
fbem-10523	68	18	misunderstandings	misunderstanding	NOUN
fbem-10523	68	19	about	about	ADP
fbem-10523	68	20	carrefour	carrefour	NOUN
fbem-10523	68	21	's	's	PART
fbem-10523	68	22	information	information	NOUN
fbem-10523	68	23	.	.	PUNCT
fbem-10523	69	1	since	since	SCONJ
fbem-10523	69	2	carrefour	carrefour	NOUN
fbem-10523	69	3	china	china	PROPN
fbem-10523	69	4	is	be	AUX
fbem-10523	69	5	not	not	PART
fbem-10523	69	6	listed	list	VERB
fbem-10523	69	7	,	,	PUNCT
fbem-10523	69	8	suning	sun	VERB
fbem-10523	69	9	has	have	AUX
fbem-10523	69	10	limited	limit	VERB
fbem-10523	69	11	access	access	NOUN
fbem-10523	69	12	to	to	ADP
fbem-10523	69	13	the	the	DET
fbem-10523	69	14	financial	financial	ADJ
fbem-10523	69	15	and	and	CCONJ
fbem-10523	69	16	operating	operating	NOUN
fbem-10523	69	17	conditions	condition	NOUN
fbem-10523	69	18	of	of	ADP
fbem-10523	69	19	the	the	DET
fbem-10523	69	20	acquired	acquire	VERB
fbem-10523	69	21	party	party	NOUN
fbem-10523	69	22	,	,	PUNCT
fbem-10523	69	23	and	and	CCONJ
fbem-10523	69	24	can	can	AUX
fbem-10523	69	25	only	only	ADV
fbem-10523	69	26	judge	judge	VERB
fbem-10523	69	27	it	it	PRON
fbem-10523	69	28	through	through	ADP
fbem-10523	69	29	the	the	DET
fbem-10523	69	30	financial	financial	ADJ
fbem-10523	69	31	reports	report	NOUN
fbem-10523	69	32	and	and	CCONJ
fbem-10523	69	33	historical	historical	ADJ
fbem-10523	69	34	announcements	announcement	NOUN
fbem-10523	69	35	disclosed	disclose	VERB
fbem-10523	69	36	by	by	ADP
fbem-10523	69	37	carrefour	carrefour	NOUN
fbem-10523	69	38	china.in	china.in	NUM
fbem-10523	69	39	addition	addition	NOUN
fbem-10523	69	40	,	,	PUNCT
fbem-10523	69	41	carrefour	carrefour	NOUN
fbem-10523	69	42	,	,	PUNCT
fbem-10523	69	43	as	as	ADP
fbem-10523	69	44	a	a	DET
fbem-10523	69	45	french	french	ADJ
fbem-10523	69	46	enterprise	enterprise	NOUN
fbem-10523	69	47	,	,	PUNCT
fbem-10523	69	48	adopts	adopt	VERB
fbem-10523	69	49	international	international	ADJ
fbem-10523	69	50	accounting	accounting	NOUN
fbem-10523	69	51	standards	standard	NOUN
fbem-10523	69	52	for	for	ADP
fbem-10523	69	53	its	its	PRON
fbem-10523	69	54	financial	financial	ADJ
fbem-10523	69	55	statements	statement	NOUN
fbem-10523	69	56	,	,	PUNCT
fbem-10523	69	57	while	while	SCONJ
fbem-10523	69	58	suning	suning	NOUN
fbem-10523	69	59	is	be	AUX
fbem-10523	69	60	prepared	prepare	VERB
fbem-10523	69	61	by	by	ADP
fbem-10523	69	62	accounting	accounting	NOUN
fbem-10523	69	63	standards	standard	NOUN
fbem-10523	69	64	issued	issue	VERB
fbem-10523	69	65	by	by	ADP
fbem-10523	69	66	the	the	DET
fbem-10523	69	67	ministry	ministry	PROPN
fbem-10523	69	68	of	of	ADP
fbem-10523	69	69	finance	finance	PROPN
fbem-10523	69	70	of	of	ADP
fbem-10523	69	71	china	china	PROPN
fbem-10523	69	72	.	.	PUNCT
fbem-10523	70	1	although	although	SCONJ
fbem-10523	70	2	the	the	DET
fbem-10523	70	3	difference	difference	NOUN
fbem-10523	70	4	between	between	ADP
fbem-10523	70	5	chinese	chinese	ADJ
fbem-10523	70	6	accounting	accounting	NOUN
fbem-10523	70	7	standards	standard	NOUN
fbem-10523	70	8	and	and	CCONJ
fbem-10523	70	9	international	international	ADJ
fbem-10523	70	10	accounting	accounting	NOUN
fbem-10523	70	11	standards	standard	NOUN
fbem-10523	70	12	has	have	AUX
fbem-10523	70	13	been	be	AUX
fbem-10523	70	14	gradually	gradually	ADV
fbem-10523	70	15	reduced	reduce	VERB
fbem-10523	70	16	in	in	ADP
fbem-10523	70	17	recent	recent	ADJ
fbem-10523	70	18	years	year	NOUN
fbem-10523	70	19	,	,	PUNCT
fbem-10523	70	20	there	there	PRON
fbem-10523	70	21	is	be	VERB
fbem-10523	70	22	still	still	ADV
fbem-10523	70	23	a	a	DET
fbem-10523	70	24	gap	gap	NOUN
fbem-10523	70	25	and	and	CCONJ
fbem-10523	70	26	the	the	DET
fbem-10523	70	27	degree	degree	NOUN
fbem-10523	70	28	of	of	ADP
fbem-10523	70	29	impact	impact	NOUN
fbem-10523	70	30	can	can	AUX
fbem-10523	70	31	not	not	PART
fbem-10523	70	32	be	be	AUX
fbem-10523	70	33	assessed	assess	VERB
fbem-10523	70	34	.	.	PUNCT
fbem-10523	71	1	on	on	ADP
fbem-10523	71	2	the	the	DET
fbem-10523	71	3	other	other	ADJ
fbem-10523	71	4	hand	hand	NOUN
fbem-10523	71	5	,	,	PUNCT
fbem-10523	71	6	different	different	ADJ
fbem-10523	71	7	valuation	valuation	NOUN
fbem-10523	71	8	methods	method	NOUN
fbem-10523	71	9	calculate	calculate	VERB
fbem-10523	71	10	different	different	ADJ
fbem-10523	71	11	enterprise	enterprise	NOUN
fbem-10523	71	12	values	value	NOUN
fbem-10523	71	13	,	,	PUNCT
fbem-10523	71	14	and	and	CCONJ
fbem-10523	71	15	the	the	DET
fbem-10523	71	16	most	most	ADV
fbem-10523	71	17	common	common	ADJ
fbem-10523	71	18	evaluation	evaluation	NOUN
fbem-10523	71	19	methods	method	NOUN
fbem-10523	71	20	are	be	AUX
fbem-10523	71	21	income	income	NOUN
fbem-10523	71	22	method	method	NOUN
fbem-10523	71	23	,	,	PUNCT
fbem-10523	71	24	cost	cost	NOUN
fbem-10523	71	25	method	method	NOUN
fbem-10523	71	26	and	and	CCONJ
fbem-10523	71	27	market	market	NOUN
fbem-10523	71	28	method	method	NOUN
fbem-10523	71	29	.	.	PUNCT
fbem-10523	72	1	suning	sun	VERB
fbem-10523	72	2	tesco	tesco	PROPN
fbem-10523	72	3	used	use	VERB
fbem-10523	72	4	the	the	DET
fbem-10523	72	5	price	price	NOUN
fbem-10523	72	6	-	-	PUNCT
fbem-10523	72	7	to	to	ADP
fbem-10523	72	8	-	-	PUNCT
fbem-10523	72	9	sales	sale	NOUN
fbem-10523	72	10	ratio	ratio	NOUN
fbem-10523	72	11	valuation	valuation	NOUN
fbem-10523	72	12	method	method	NOUN
fbem-10523	72	13	to	to	PART
fbem-10523	72	14	evaluate	evaluate	VERB
fbem-10523	72	15	the	the	DET
fbem-10523	72	16	enterprise	enterprise	NOUN
fbem-10523	72	17	value	value	NOUN
fbem-10523	72	18	of	of	ADP
fbem-10523	72	19	carrefour	carrefour	NOUN
fbem-10523	72	20	,	,	PUNCT
fbem-10523	72	21	and	and	CCONJ
fbem-10523	72	22	valued	value	VERB
fbem-10523	72	23	the	the	DET
fbem-10523	72	24	100	100	NUM
fbem-10523	72	25	%	%	NOUN
fbem-10523	72	26	equity	equity	NOUN
fbem-10523	72	27	of	of	ADP
fbem-10523	72	28	carrefour	carrefour	PROPN
fbem-10523	72	29	china	china	PROPN
fbem-10523	72	30	at	at	ADP
fbem-10523	72	31	6	6	NUM
fbem-10523	72	32	billion	billion	NUM
fbem-10523	72	33	yuan	yuan	NOUN
fbem-10523	72	34	.	.	PUNCT
fbem-10523	73	1	this	this	PRON
fbem-10523	73	2	is	be	AUX
fbem-10523	73	3	also	also	ADV
fbem-10523	73	4	a	a	DET
fbem-10523	73	5	commonly	commonly	ADV
fbem-10523	73	6	used	use	VERB
fbem-10523	73	7	method	method	NOUN
fbem-10523	73	8	in	in	ADP
fbem-10523	73	9	the	the	DET
fbem-10523	73	10	industry	industry	NOUN
fbem-10523	73	11	,	,	PUNCT
fbem-10523	73	12	with	with	ADP
fbem-10523	73	13	reference	reference	NOUN
fbem-10523	73	14	to	to	ADP
fbem-10523	73	15	the	the	DET
fbem-10523	73	16	market	market	NOUN
fbem-10523	73	17	to	to	ADP
fbem-10523	73	18	sales	sale	NOUN
fbem-10523	73	19	ratio	ratio	NOUN
fbem-10523	73	20	of	of	ADP
fbem-10523	73	21	listed	list	VERB
fbem-10523	73	22	companies	company	NOUN
fbem-10523	73	23	in	in	ADP
fbem-10523	73	24	the	the	DET
fbem-10523	73	25	industry	industry	NOUN
fbem-10523	73	26	in	in	ADP
fbem-10523	73	27	2018	2018	NUM
fbem-10523	73	28	,	,	PUNCT
fbem-10523	73	29	as	as	SCONJ
fbem-10523	73	30	shown	show	VERB
fbem-10523	73	31	in	in	ADP
fbem-10523	73	32	the	the	DET
fbem-10523	73	33	table	table	NOUN
fbem-10523	73	34	below	below	ADV
fbem-10523	73	35	.	.	PUNCT
fbem-10523	74	1	the	the	DET
fbem-10523	74	2	average	average	ADJ
fbem-10523	74	3	market	market	NOUN
fbem-10523	74	4	sales	sale	NOUN
fbem-10523	74	5	ratio	ratio	NOUN
fbem-10523	74	6	of	of	ADP
fbem-10523	74	7	listed	list	VERB
fbem-10523	74	8	companies	company	NOUN
fbem-10523	74	9	in	in	ADP
fbem-10523	74	10	the	the	DET
fbem-10523	74	11	same	same	ADJ
fbem-10523	74	12	industry	industry	NOUN
fbem-10523	74	13	is	be	AUX
fbem-10523	74	14	0.88	0.88	NUM
fbem-10523	74	15	,	,	PUNCT
fbem-10523	74	16	and	and	CCONJ
fbem-10523	74	17	the	the	DET
fbem-10523	74	18	median	median	NOUN
fbem-10523	74	19	is	be	AUX
fbem-10523	74	20	0.7	0.7	NUM
fbem-10523	74	21	,	,	PUNCT
fbem-10523	74	22	while	while	SCONJ
fbem-10523	74	23	carrefour	carrefour	NOUN
fbem-10523	74	24	china	china	PROPN
fbem-10523	74	25	is	be	AUX
fbem-10523	74	26	only	only	ADV
fbem-10523	74	27	0.2	0.2	NUM
fbem-10523	74	28	,	,	PUNCT
fbem-10523	74	29	far	far	ADV
fbem-10523	74	30	lower	low	ADJ
fbem-10523	74	31	than	than	ADP
fbem-10523	74	32	the	the	DET
fbem-10523	74	33	industry	industry	NOUN
fbem-10523	74	34	average	average	NOUN
fbem-10523	74	35	,	,	PUNCT
fbem-10523	74	36	so	so	ADV
fbem-10523	74	37	suning	sun	VERB
fbem-10523	74	38	tesco	tesco	PROPN
fbem-10523	74	39	believes	believe	VERB
fbem-10523	74	40	that	that	SCONJ
fbem-10523	74	41	the	the	DET
fbem-10523	74	42	valuation	valuation	NOUN
fbem-10523	74	43	of	of	ADP
fbem-10523	74	44	this	this	DET
fbem-10523	74	45	transaction	transaction	NOUN
fbem-10523	74	46	is	be	AUX
fbem-10523	74	47	more	more	ADV
fbem-10523	74	48	reasonable	reasonable	ADJ
fbem-10523	74	49	.	.	PUNCT
fbem-10523	75	1	however	however	ADV
fbem-10523	75	2	,	,	PUNCT
fbem-10523	75	3	carrefour	carrefour	NOUN
fbem-10523	75	4	china	china	PROPN
fbem-10523	75	5	has	have	AUX
fbem-10523	75	6	been	be	AUX
fbem-10523	75	7	in	in	ADP
fbem-10523	75	8	a	a	DET
fbem-10523	75	9	state	state	NOUN
fbem-10523	75	10	of	of	ADP
fbem-10523	75	11	long	long	ADJ
fbem-10523	75	12	-	-	PUNCT
fbem-10523	75	13	term	term	NOUN
fbem-10523	75	14	loss	loss	NOUN
fbem-10523	75	15	,	,	PUNCT
fbem-10523	75	16	and	and	CCONJ
fbem-10523	75	17	suning	sun	VERB
fbem-10523	75	18	tesco	tesco	PROPN
fbem-10523	75	19	uses	use	VERB
fbem-10523	75	20	yonghui	yonghui	PROPN
fbem-10523	75	21	supermarket	supermarket	NOUN
fbem-10523	75	22	,	,	PUNCT
fbem-10523	75	23	jiajiayue	jiajiayue	PROPN
fbem-10523	75	24	,	,	PUNCT
fbem-10523	75	25	zhongbai	zhongbai	PROPN
fbem-10523	75	26	group	group	NOUN
fbem-10523	75	27	and	and	CCONJ
fbem-10523	75	28	other	other	ADJ
fbem-10523	75	29	profitable	profitable	ADJ
fbem-10523	75	30	supermarkets	supermarket	NOUN
fbem-10523	75	31	as	as	ADP
fbem-10523	75	32	the	the	DET
fbem-10523	75	33	comparable	comparable	ADJ
fbem-10523	75	34	objects	object	NOUN
fbem-10523	75	35	of	of	ADP
fbem-10523	75	36	carrefour	carrefour	NOUN
fbem-10523	75	37	,	,	PUNCT
fbem-10523	75	38	which	which	PRON
fbem-10523	75	39	lacks	lack	VERB
fbem-10523	75	40	certain	certain	ADJ
fbem-10523	75	41	rationality	rationality	NOUN
fbem-10523	75	42	and	and	CCONJ
fbem-10523	75	43	may	may	AUX
fbem-10523	75	44	lead	lead	VERB
fbem-10523	75	45	to	to	ADP
fbem-10523	75	46	valuation	valuation	NOUN
fbem-10523	75	47	risks	risk	NOUN
fbem-10523	75	48	.	.	PUNCT
fbem-10523	76	1	table	table	NOUN
fbem-10523	76	2	1	1	NUM
fbem-10523	76	3	.	.	PUNCT
fbem-10523	77	1	market	market	NOUN
fbem-10523	77	2	share	share	NOUN
fbem-10523	77	3	ratio	ratio	NOUN
fbem-10523	77	4	of	of	ADP
fbem-10523	77	5	listed	list	VERB
fbem-10523	77	6	companies	company	NOUN
fbem-10523	77	7	in	in	ADP
fbem-10523	77	8	the	the	DET
fbem-10523	77	9	industry	industry	NOUN
fbem-10523	77	10	in	in	ADP
fbem-10523	77	11	2018	2018	NUM
fbem-10523	77	12	1	1	NUM
fbem-10523	77	13	comparable	comparable	ADJ
fbem-10523	77	14	listed	list	VERB
fbem-10523	77	15	company	company	NOUN
fbem-10523	77	16	market	market	NOUN
fbem-10523	77	17	-	-	PUNCT
fbem-10523	77	18	to	to	ADP
fbem-10523	77	19	-	-	PUNCT
fbem-10523	77	20	sales	sale	NOUN
fbem-10523	77	21	ratio	ratio	NOUN
fbem-10523	77	22	yonghui	yonghui	PROPN
fbem-10523	77	23	supermarket	supermarket	PROPN
fbem-10523	77	24	1.37	1.37	NUM
fbem-10523	77	25	jiajiayue	jiajiayue	PROPN
fbem-10523	77	26	1.02	1.02	NUM
fbem-10523	77	27	higher	high	ADJ
fbem-10523	77	28	step	step	NOUN
fbem-10523	77	29	by	by	ADP
fbem-10523	77	30	step	step	NOUN
fbem-10523	77	31	0.38	0.38	NUM
fbem-10523	77	32	sanjiang	sanjiang	NOUN
fbem-10523	77	33	shopping	shop	VERB
fbem-10523	77	34	1.87	1.87	NUM
fbem-10523	77	35	zhongbai	zhongbai	PROPN
fbem-10523	77	36	group	group	NOUN
fbem-10523	77	37	0.32	0.32	NUM
fbem-10523	77	38	renrenle	renrenle	NOUN
fbem-10523	77	39	0.29	0.29	NUM
fbem-10523	77	40	carrefour	carrefour	NOUN
fbem-10523	77	41	china	china	PROPN
fbem-10523	77	42	0.2	0.2	NUM
fbem-10523	77	43	5.2	5.2	NUM
fbem-10523	77	44	.	.	PUNCT
fbem-10523	78	1	m&a	m&a	PROPN
fbem-10523	78	2	implementation	implementation	NOUN
fbem-10523	78	3	stage	stage	NOUN
fbem-10523	78	4	-payment	-payment	NOUN
fbem-10523	78	5	risk	risk	NOUN
fbem-10523	78	6	payment	payment	NOUN
fbem-10523	78	7	risk	risk	NOUN
fbem-10523	78	8	refers	refer	VERB
fbem-10523	78	9	to	to	ADP
fbem-10523	78	10	the	the	DET
fbem-10523	78	11	unreasonable	unreasonable	ADJ
fbem-10523	78	12	payment	payment	NOUN
fbem-10523	78	13	method	method	NOUN
fbem-10523	78	14	chosen	choose	VERB
fbem-10523	78	15	by	by	ADP
fbem-10523	78	16	the	the	DET
fbem-10523	78	17	enterprise	enterprise	NOUN
fbem-10523	78	18	when	when	SCONJ
fbem-10523	78	19	paying	pay	VERB
fbem-10523	78	20	the	the	DET
fbem-10523	78	21	consideration	consideration	NOUN
fbem-10523	78	22	of	of	ADP
fbem-10523	78	23	merger	merger	NOUN
fbem-10523	78	24	and	and	CCONJ
fbem-10523	78	25	acquisition	acquisition	NOUN
fbem-10523	78	26	,	,	PUNCT
fbem-10523	78	27	which	which	PRON
fbem-10523	78	28	has	have	VERB
fbem-10523	78	29	a	a	DET
fbem-10523	78	30	negative	negative	ADJ
fbem-10523	78	31	impact	impact	NOUN
fbem-10523	78	32	on	on	ADP
fbem-10523	78	33	the	the	DET
fbem-10523	78	34	normal	normal	ADJ
fbem-10523	78	35	capital	capital	NOUN
fbem-10523	78	36	operation	operation	NOUN
fbem-10523	78	37	of	of	ADP
fbem-10523	78	38	the	the	DET
fbem-10523	78	39	enterprise	enterprise	NOUN
fbem-10523	78	40	.	.	PUNCT
fbem-10523	79	1	in	in	ADP
fbem-10523	79	2	this	this	DET
fbem-10523	79	3	case	case	NOUN
fbem-10523	79	4	,	,	PUNCT
fbem-10523	79	5	suning	sun	VERB
fbem-10523	79	6	bought	buy	VERB
fbem-10523	79	7	carrefour	carrefour	NOUN
fbem-10523	79	8	shares	share	NOUN
fbem-10523	79	9	in	in	ADP
fbem-10523	79	10	cash	cash	NOUN
fbem-10523	79	11	.	.	PUNCT
fbem-10523	80	1	this	this	DET
fbem-10523	80	2	payment	payment	NOUN
fbem-10523	80	3	method	method	NOUN
fbem-10523	80	4	reflects	reflect	VERB
fbem-10523	80	5	the	the	DET
fbem-10523	80	6	strong	strong	ADJ
fbem-10523	80	7	cash	cash	NOUN
fbem-10523	80	8	capacity	capacity	NOUN
fbem-10523	80	9	of	of	ADP
fbem-10523	80	10	suning	sun	VERB
fbem-10523	80	11	tesco	tesco	PROPN
fbem-10523	80	12	,	,	PUNCT
fbem-10523	80	13	but	but	CCONJ
fbem-10523	80	14	at	at	ADP
fbem-10523	80	15	the	the	DET
fbem-10523	80	16	same	same	ADJ
fbem-10523	80	17	time	time	NOUN
fbem-10523	80	18	increases	increase	VERB
fbem-10523	80	19	the	the	DET
fbem-10523	80	20	cash	cash	NOUN
fbem-10523	80	21	burden	burden	NOUN
fbem-10523	80	22	of	of	ADP
fbem-10523	80	23	suning	sun	VERB
fbem-10523	80	24	tesco	tesco	PROPN
fbem-10523	80	25	.	.	PUNCT
fbem-10523	81	1	a	a	DET
fbem-10523	81	2	large	large	ADJ
fbem-10523	81	3	amount	amount	NOUN
fbem-10523	81	4	of	of	ADP
fbem-10523	81	5	cash	cash	NOUN
fbem-10523	81	6	outflow	outflow	NOUN
fbem-10523	81	7	brings	bring	VERB
fbem-10523	81	8	a	a	DET
fbem-10523	81	9	certain	certain	ADJ
fbem-10523	81	10	degree	degree	NOUN
fbem-10523	81	11	of	of	ADP
fbem-10523	81	12	risk	risk	NOUN
fbem-10523	81	13	to	to	ADP
fbem-10523	81	14	the	the	DET
fbem-10523	81	15	operation	operation	NOUN
fbem-10523	81	16	of	of	ADP
fbem-10523	81	17	the	the	DET
fbem-10523	81	18	company	company	NOUN
fbem-10523	81	19	,	,	PUNCT
fbem-10523	81	20	may	may	AUX
fbem-10523	81	21	also	also	ADV
fbem-10523	81	22	compress	compress	VERB
fbem-10523	81	23	the	the	DET
fbem-10523	81	24	investment	investment	NOUN
fbem-10523	81	25	proportion	proportion	NOUN
fbem-10523	81	26	of	of	ADP
fbem-10523	81	27	other	other	ADJ
fbem-10523	81	28	funds	fund	NOUN
fbem-10523	81	29	,	,	PUNCT
fbem-10523	81	30	bring	bring	VERB
fbem-10523	81	31	a	a	DET
fbem-10523	81	32	little	little	ADJ
fbem-10523	81	33	burden	burden	NOUN
fbem-10523	81	34	to	to	ADP
fbem-10523	81	35	the	the	DET
fbem-10523	81	36	internal	internal	ADJ
fbem-10523	81	37	operation	operation	NOUN
fbem-10523	81	38	of	of	ADP
fbem-10523	81	39	the	the	DET
fbem-10523	81	40	company	company	NOUN
fbem-10523	81	41	,	,	PUNCT
fbem-10523	81	42	and	and	CCONJ
fbem-10523	81	43	increase	increase	VERB
fbem-10523	81	44	the	the	DET
fbem-10523	81	45	financing	financing	NOUN
fbem-10523	81	46	cost	cost	NOUN
fbem-10523	81	47	.	.	PUNCT
fbem-10523	82	1	the	the	DET
fbem-10523	82	2	following	follow	VERB
fbem-10523	82	3	figure	figure	NOUN
fbem-10523	82	4	shows	show	VERB
fbem-10523	82	5	some	some	DET
fbem-10523	82	6	key	key	ADJ
fbem-10523	82	7	data	datum	NOUN
fbem-10523	82	8	in	in	ADP
fbem-10523	82	9	the	the	DET
fbem-10523	82	10	cash	cash	NOUN
fbem-10523	82	11	flow	flow	NOUN
fbem-10523	82	12	statement	statement	NOUN
fbem-10523	82	13	of	of	ADP
fbem-10523	82	14	suning	sun	VERB
fbem-10523	82	15	tesco	tesco	PROPN
fbem-10523	82	16	in	in	ADP
fbem-10523	82	17	the	the	DET
fbem-10523	82	18	year	year	NOUN
fbem-10523	82	19	of	of	ADP
fbem-10523	82	20	the	the	DET
fbem-10523	82	21	merger	merger	NOUN
fbem-10523	82	22	.	.	PUNCT
fbem-10523	83	1	it	it	PRON
fbem-10523	83	2	can	can	AUX
fbem-10523	83	3	be	be	AUX
fbem-10523	83	4	seen	see	VERB
fbem-10523	83	5	that	that	SCONJ
fbem-10523	83	6	its	its	PRON
fbem-10523	83	7	cash	cash	NOUN
fbem-10523	83	8	and	and	CCONJ
fbem-10523	83	9	cash	cash	NOUN
fbem-10523	83	10	equivalents	equivalent	NOUN
fbem-10523	83	11	are	be	AUX
fbem-10523	83	12	abundant	abundant	ADJ
fbem-10523	83	13	,	,	PUNCT
fbem-10523	83	14	and	and	CCONJ
fbem-10523	83	15	there	there	PRON
fbem-10523	83	16	is	be	VERB
fbem-10523	83	17	enough	enough	ADJ
fbem-10523	83	18	cash	cash	NOUN
fbem-10523	83	19	flow	flow	NOUN
fbem-10523	83	20	to	to	PART
fbem-10523	83	21	support	support	VERB
fbem-10523	83	22	its	its	PRON
fbem-10523	83	23	completion	completion	NOUN
fbem-10523	83	24	of	of	ADP
fbem-10523	83	25	the	the	DET
fbem-10523	83	26	merger	merger	NOUN
fbem-10523	83	27	.	.	PUNCT
fbem-10523	84	1	table	table	NOUN
fbem-10523	84	2	2	2	NUM
fbem-10523	84	3	.	.	PUNCT
fbem-10523	84	4	cash	cash	NOUN
fbem-10523	84	5	flow	flow	NOUN
fbem-10523	84	6	statement	statement	NOUN
fbem-10523	84	7	of	of	ADP
fbem-10523	84	8	suning	sun	VERB
fbem-10523	84	9	tesco	tesco	PROPN
fbem-10523	84	10	in	in	ADP
fbem-10523	84	11	the	the	DET
fbem-10523	84	12	fourth	fourth	ADJ
fbem-10523	84	13	quarter	quarter	NOUN
fbem-10523	84	14	of	of	ADP
fbem-10523	84	15	2019	2019	NUM
fbem-10523	84	16	(	(	PUNCT
fbem-10523	84	17	thousands	thousand	NOUN
fbem-10523	84	18	of	of	ADP
fbem-10523	84	19	yuan	yuan	NOUN
fbem-10523	84	20	)	)	PUNCT
fbem-10523	84	21	although	although	SCONJ
fbem-10523	84	22	suning	suning	NOUN
fbem-10523	84	23	can	can	AUX
fbem-10523	84	24	pay	pay	VERB
fbem-10523	84	25	the	the	DET
fbem-10523	84	26	consideration	consideration	NOUN
fbem-10523	84	27	at	at	ADP
fbem-10523	84	28	present	present	ADJ
fbem-10523	84	29	,	,	PUNCT
fbem-10523	84	30	suning	sun	VERB
fbem-10523	84	31	tesco	tesco	PROPN
fbem-10523	84	32	needs	need	VERB
fbem-10523	84	33	to	to	PART
fbem-10523	84	34	consider	consider	VERB
fbem-10523	84	35	whether	whether	SCONJ
fbem-10523	84	36	the	the	DET
fbem-10523	84	37	remaining	remain	VERB
fbem-10523	84	38	funds	fund	NOUN
fbem-10523	84	39	can	can	AUX
fbem-10523	84	40	maintain	maintain	VERB
fbem-10523	84	41	the	the	DET
fbem-10523	84	42	current	current	ADJ
fbem-10523	84	43	daily	daily	ADJ
fbem-10523	84	44	operations	operation	NOUN
fbem-10523	84	45	after	after	ADP
fbem-10523	84	46	such	such	DET
fbem-10523	84	47	a	a	DET
fbem-10523	84	48	large	large	ADJ
fbem-10523	84	49	amount	amount	NOUN
fbem-10523	84	50	of	of	ADP
fbem-10523	84	51	expenditure	expenditure	NOUN
fbem-10523	84	52	,	,	PUNCT
fbem-10523	84	53	which	which	PRON
fbem-10523	84	54	is	be	AUX
fbem-10523	84	55	a	a	DET
fbem-10523	84	56	huge	huge	ADJ
fbem-10523	84	57	challenge	challenge	NOUN
fbem-10523	84	58	that	that	PRON
fbem-10523	84	59	enterprises	enterprise	NOUN
fbem-10523	84	60	must	must	AUX
fbem-10523	84	61	consider	consider	VERB
fbem-10523	84	62	after	after	ADP
fbem-10523	84	63	m&a	m&a	PROPN
fbem-10523	84	64	activities	activity	NOUN
fbem-10523	84	65	.	.	PUNCT
fbem-10523	85	1	general	general	ADJ
fbem-10523	85	2	current	current	ADJ
fbem-10523	85	3	ratio	ratio	NOUN
fbem-10523	85	4	and	and	CCONJ
fbem-10523	85	5	quick	quick	ADJ
fbem-10523	85	6	ratio	ratio	NOUN
fbem-10523	85	7	can	can	AUX
fbem-10523	85	8	very	very	ADV
fbem-10523	85	9	well	well	ADV
fbem-10523	85	10	reflect	reflect	VERB
fbem-10523	85	11	the	the	DET
fbem-10523	85	12	realization	realization	NOUN
fbem-10523	85	13	ability	ability	NOUN
fbem-10523	85	14	of	of	ADP
fbem-10523	85	15	an	an	DET
fbem-10523	85	16	enterprise	enterprise	NOUN
fbem-10523	85	17	.	.	PUNCT
fbem-10523	86	1	according	accord	VERB
fbem-10523	86	2	to	to	ADP
fbem-10523	86	3	the	the	DET
fbem-10523	86	4	analysis	analysis	NOUN
fbem-10523	86	5	of	of	ADP
fbem-10523	86	6	the	the	DET
fbem-10523	86	7	status	status	NOUN
fbem-10523	86	8	of	of	ADP
fbem-10523	86	9	current	current	ADJ
fbem-10523	86	10	ratio	ratio	NOUN
fbem-10523	86	11	before	before	ADP
fbem-10523	86	12	and	and	CCONJ
fbem-10523	86	13	after	after	ADP
fbem-10523	86	14	the	the	DET
fbem-10523	86	15	merger	merger	NOUN
fbem-10523	86	16	,	,	PUNCT
fbem-10523	86	17	it	it	PRON
fbem-10523	86	18	project	project	VERB
fbem-10523	86	19	2019q1	2019q1	NUM
fbem-10523	86	20	2019q2	2019q2	NUM
fbem-10523	86	21	2019q3	2019q3	NUM
fbem-10523	86	22	2019q4	2019q4	NOUN
fbem-10523	86	23	net	net	ADJ
fbem-10523	86	24	cash	cash	NOUN
fbem-10523	86	25	flow	flow	NOUN
fbem-10523	86	26	from	from	ADP
fbem-10523	86	27	operating	operate	VERB
fbem-10523	86	28	activities	activity	NOUN
fbem-10523	86	29	-5,817,083	-5,817,083	PUNCT
fbem-10523	86	30	10,267,957	10,267,957	NUM
fbem-10523	86	31	-19,963,541	-19,963,541	NUM
fbem-10523	86	32	17,864,555	17,864,555	NUM
fbem-10523	86	33	net	net	ADJ
fbem-10523	86	34	cash	cash	NOUN
fbem-10523	86	35	flow	flow	NOUN
fbem-10523	86	36	from	from	ADP
fbem-10523	86	37	investing	invest	VERB
fbem-10523	86	38	activities	activity	NOUN
fbem-10523	86	39	-5,672,911	-5,672,911	PUNCT
fbem-10523	86	40	8,203,147	8,203,147	NUM
fbem-10523	86	41	-22,498,856	-22,498,856	NOUN
fbem-10523	86	42	20,871,110	20,871,110	NUM
fbem-10523	86	43	net	net	ADJ
fbem-10523	86	44	cash	cash	NOUN
fbem-10523	86	45	flow	flow	NOUN
fbem-10523	86	46	from	from	ADP
fbem-10523	86	47	financing	financing	NOUN
fbem-10523	86	48	activities	activity	NOUN
fbem-10523	86	49	7,514,043	7,514,043	NUM
fbem-10523	86	50	13,949,650	13,949,650	NUM
fbem-10523	86	51	26,891,316	26,891,316	NUM
fbem-10523	86	52	26,201,239	26,201,239	NUM
fbem-10523	86	53	net	net	ADJ
fbem-10523	86	54	increase	increase	NOUN
fbem-10523	86	55	in	in	ADP
fbem-10523	86	56	cash	cash	NOUN
fbem-10523	86	57	and	and	CCONJ
fbem-10523	86	58	cash	cash	NOUN
fbem-10523	86	59	equivalents	equivalent	NOUN
fbem-10523	86	60	-4,477,558	-4,477,558	PUNCT
fbem-10523	86	61	4,593,986	4,593,986	NUM
fbem-10523	86	62	-15,231,332	-15,231,332	NOUN
fbem-10523	86	63	12,300,943	12,300,943	NUM
fbem-10523	86	64	opening	open	VERB
fbem-10523	86	65	cash	cash	NOUN
fbem-10523	86	66	and	and	CCONJ
fbem-10523	86	67	cash	cash	NOUN
fbem-10523	86	68	equivalents	equivalent	NOUN
fbem-10523	86	69	balances	balance	VERB
fbem-10523	86	70	30,220,850	30,220,850	NUM
fbem-10523	86	71	30,220,850	30,220,850	NUM
fbem-10523	86	72	30,220,850	30,220,850	NUM
fbem-10523	86	73	30,220,850	30,220,850	NUM
fbem-10523	86	74	the	the	DET
fbem-10523	86	75	effect	effect	NOUN
fbem-10523	86	76	of	of	ADP
fbem-10523	86	77	exchange	exchange	NOUN
fbem-10523	86	78	rate	rate	NOUN
fbem-10523	86	79	changes	change	NOUN
fbem-10523	86	80	on	on	ADP
fbem-10523	86	81	cash	cash	NOUN
fbem-10523	86	82	and	and	CCONJ
fbem-10523	86	83	cash	cash	NOUN
fbem-10523	86	84	equivalents	equivalent	NOUN
fbem-10523	86	85	-501,607	-501,607	PUNCT
fbem-10523	86	86	72,532	72,532	NUM
fbem-10523	86	87	339,749	339,749	NUM
fbem-10523	86	88	233,483	233,483	NUM
fbem-10523	86	89	closing	close	VERB
fbem-10523	86	90	cash	cash	NOUN
fbem-10523	86	91	and	and	CCONJ
fbem-10523	86	92	cash	cash	NOUN
fbem-10523	86	93	equivalents	equivalent	NOUN
fbem-10523	86	94	balances	balance	VERB
fbem-10523	86	95	25,743,292	25,743,292	NUM
fbem-10523	86	96	25,626,864	25,626,864	NUM
fbem-10523	86	97	14,989,518	14,989,518	NUM
fbem-10523	86	98	17,919,907	17,919,907	NUM
fbem-10523	86	99	57	57	NUM
fbem-10523	86	100	shows	show	VERB
fbem-10523	86	101	a	a	DET
fbem-10523	86	102	downward	downward	ADJ
fbem-10523	86	103	trend	trend	NOUN
fbem-10523	86	104	after	after	ADP
fbem-10523	86	105	the	the	DET
fbem-10523	86	106	merger	merger	NOUN
fbem-10523	86	107	.	.	PUNCT
fbem-10523	87	1	after	after	ADP
fbem-10523	87	2	the	the	DET
fbem-10523	87	3	completion	completion	NOUN
fbem-10523	87	4	of	of	ADP
fbem-10523	87	5	the	the	DET
fbem-10523	87	6	merger	merger	NOUN
fbem-10523	87	7	,	,	PUNCT
fbem-10523	87	8	the	the	DET
fbem-10523	87	9	realization	realization	NOUN
fbem-10523	87	10	ability	ability	NOUN
fbem-10523	87	11	of	of	ADP
fbem-10523	87	12	suning	sun	VERB
fbem-10523	87	13	tesco	tesco	PROPN
fbem-10523	87	14	becomes	become	VERB
fbem-10523	87	15	weak	weak	ADJ
fbem-10523	87	16	,	,	PUNCT
fbem-10523	87	17	resulting	result	VERB
fbem-10523	87	18	in	in	ADP
fbem-10523	87	19	increased	increase	VERB
fbem-10523	87	20	financial	financial	ADJ
fbem-10523	87	21	risk	risk	NOUN
fbem-10523	87	22	.	.	PUNCT
fbem-10523	88	1	figure	figure	NOUN
fbem-10523	88	2	2	2	NUM
fbem-10523	88	3	.	.	PUNCT
fbem-10523	88	4	changing	change	VERB
fbem-10523	88	5	trend	trend	NOUN
fbem-10523	88	6	of	of	ADP
fbem-10523	88	7	current	current	ADJ
fbem-10523	88	8	ratio	ratio	NOUN
fbem-10523	88	9	and	and	CCONJ
fbem-10523	88	10	quick	quick	ADJ
fbem-10523	88	11	ratio	ratio	NOUN
fbem-10523	88	12	of	of	ADP
fbem-10523	88	13	suning	sun	VERB
fbem-10523	88	14	tesco	tesco	PROPN
fbem-10523	88	15	from	from	ADP
fbem-10523	88	16	2017	2017	NUM
fbem-10523	88	17	to	to	ADP
fbem-10523	88	18	2022	2022	NUM
fbem-10523	88	19	5.3	5.3	NUM
fbem-10523	88	20	.	.	PUNCT
fbem-10523	89	1	post	post	ADJ
fbem-10523	89	2	-	-	ADJ
fbem-10523	89	3	merger	merger	ADJ
fbem-10523	89	4	stage	stage	NOUN
fbem-10523	89	5	integration	integration	NOUN
fbem-10523	89	6	risk	risk	NOUN
fbem-10523	89	7	for	for	ADP
fbem-10523	89	8	enterprises	enterprise	NOUN
fbem-10523	89	9	,	,	PUNCT
fbem-10523	89	10	m&a	m&a	PROPN
fbem-10523	89	11	is	be	AUX
fbem-10523	89	12	a	a	DET
fbem-10523	89	13	double	double	ADJ
fbem-10523	89	14	-	-	PUNCT
fbem-10523	89	15	edged	edge	VERB
fbem-10523	89	16	sword	sword	NOUN
fbem-10523	89	17	,	,	PUNCT
fbem-10523	89	18	if	if	SCONJ
fbem-10523	89	19	it	it	PRON
fbem-10523	89	20	is	be	AUX
fbem-10523	89	21	not	not	PART
fbem-10523	89	22	well	well	ADV
fbem-10523	89	23	integrated	integrate	VERB
fbem-10523	89	24	after	after	ADP
fbem-10523	89	25	m&a	m&a	PROPN
fbem-10523	89	26	,	,	PUNCT
fbem-10523	89	27	it	it	PRON
fbem-10523	89	28	may	may	AUX
fbem-10523	89	29	lead	lead	VERB
fbem-10523	89	30	to	to	ADP
fbem-10523	89	31	the	the	DET
fbem-10523	89	32	eventual	eventual	ADJ
fbem-10523	89	33	failure	failure	NOUN
fbem-10523	89	34	of	of	ADP
fbem-10523	89	35	m&a	m&a	PROPN
fbem-10523	89	36	.	.	PUNCT
fbem-10523	90	1	therefore	therefore	ADV
fbem-10523	90	2	,	,	PUNCT
fbem-10523	90	3	the	the	DET
fbem-10523	90	4	integration	integration	NOUN
fbem-10523	90	5	work	work	VERB
fbem-10523	90	6	after	after	SCONJ
fbem-10523	90	7	the	the	DET
fbem-10523	90	8	merger	merger	NOUN
fbem-10523	90	9	is	be	AUX
fbem-10523	90	10	a	a	DET
fbem-10523	90	11	crucial	crucial	ADJ
fbem-10523	90	12	task	task	NOUN
fbem-10523	90	13	.	.	PUNCT
fbem-10523	91	1	first	first	ADV
fbem-10523	91	2	of	of	ADP
fbem-10523	91	3	all	all	PRON
fbem-10523	91	4	,	,	PUNCT
fbem-10523	91	5	in	in	ADP
fbem-10523	91	6	terms	term	NOUN
fbem-10523	91	7	of	of	ADP
fbem-10523	91	8	corporate	corporate	ADJ
fbem-10523	91	9	culture	culture	NOUN
fbem-10523	91	10	,	,	PUNCT
fbem-10523	91	11	both	both	DET
fbem-10523	91	12	companies	company	NOUN
fbem-10523	91	13	are	be	AUX
fbem-10523	91	14	well	well	ADV
fbem-10523	91	15	-	-	PUNCT
fbem-10523	91	16	known	know	VERB
fbem-10523	91	17	in	in	ADP
fbem-10523	91	18	their	their	PRON
fbem-10523	91	19	respective	respective	ADJ
fbem-10523	91	20	fields	field	NOUN
fbem-10523	91	21	.	.	PUNCT
fbem-10523	92	1	as	as	ADP
fbem-10523	92	2	mature	mature	ADJ
fbem-10523	92	3	companies	company	NOUN
fbem-10523	92	4	,	,	PUNCT
fbem-10523	92	5	both	both	DET
fbem-10523	92	6	sides	side	NOUN
fbem-10523	92	7	have	have	AUX
fbem-10523	92	8	already	already	ADV
fbem-10523	92	9	formed	form	VERB
fbem-10523	92	10	their	their	PRON
fbem-10523	92	11	own	own	ADJ
fbem-10523	92	12	corporate	corporate	ADJ
fbem-10523	92	13	cultures	culture	NOUN
fbem-10523	92	14	.	.	PUNCT
fbem-10523	93	1	due	due	ADP
fbem-10523	93	2	to	to	ADP
fbem-10523	93	3	the	the	DET
fbem-10523	93	4	different	different	ADJ
fbem-10523	93	5	management	management	NOUN
fbem-10523	93	6	systems	system	NOUN
fbem-10523	93	7	adopted	adopt	VERB
fbem-10523	93	8	by	by	ADP
fbem-10523	93	9	both	both	DET
fbem-10523	93	10	sides	side	NOUN
fbem-10523	93	11	and	and	CCONJ
fbem-10523	93	12	the	the	DET
fbem-10523	93	13	fact	fact	NOUN
fbem-10523	93	14	that	that	SCONJ
fbem-10523	93	15	this	this	DET
fbem-10523	93	16	merger	merger	NOUN
fbem-10523	93	17	is	be	AUX
fbem-10523	93	18	a	a	DET
fbem-10523	93	19	transnational	transnational	ADJ
fbem-10523	93	20	merger	merger	NOUN
fbem-10523	93	21	,	,	PUNCT
fbem-10523	93	22	the	the	DET
fbem-10523	93	23	integration	integration	NOUN
fbem-10523	93	24	risks	risk	NOUN
fbem-10523	93	25	of	of	ADP
fbem-10523	93	26	culture	culture	NOUN
fbem-10523	93	27	and	and	CCONJ
fbem-10523	93	28	human	human	ADJ
fbem-10523	93	29	resources	resource	NOUN
fbem-10523	93	30	are	be	AUX
fbem-10523	93	31	increased	increase	VERB
fbem-10523	93	32	.	.	PUNCT
fbem-10523	94	1	secondly	secondly	ADV
fbem-10523	94	2	,	,	PUNCT
fbem-10523	94	3	in	in	ADP
fbem-10523	94	4	terms	term	NOUN
fbem-10523	94	5	of	of	ADP
fbem-10523	94	6	business	business	NOUN
fbem-10523	94	7	integration	integration	NOUN
fbem-10523	94	8	,	,	PUNCT
fbem-10523	94	9	carrefour	carrefour	NOUN
fbem-10523	94	10	's	's	PART
fbem-10523	94	11	main	main	ADJ
fbem-10523	94	12	business	business	NOUN
fbem-10523	94	13	serves	serve	VERB
fbem-10523	94	14	large	large	ADJ
fbem-10523	94	15	chain	chain	NOUN
fbem-10523	94	16	supermarkets	supermarket	NOUN
fbem-10523	94	17	and	and	CCONJ
fbem-10523	94	18	adopts	adopt	VERB
fbem-10523	94	19	the	the	DET
fbem-10523	94	20	form	form	NOUN
fbem-10523	94	21	of	of	ADP
fbem-10523	94	22	hypermarket	hypermarket	NOUN
fbem-10523	94	23	sales	sale	NOUN
fbem-10523	94	24	,	,	PUNCT
fbem-10523	94	25	which	which	PRON
fbem-10523	94	26	is	be	AUX
fbem-10523	94	27	large	large	ADJ
fbem-10523	94	28	,	,	PUNCT
fbem-10523	94	29	complex	complex	ADJ
fbem-10523	94	30	,	,	PUNCT
fbem-10523	94	31	rich	rich	ADJ
fbem-10523	94	32	and	and	CCONJ
fbem-10523	94	33	comprehensive	comprehensive	ADJ
fbem-10523	94	34	,	,	PUNCT
fbem-10523	94	35	while	while	SCONJ
fbem-10523	94	36	suning	suning	NOUN
fbem-10523	94	37	classifies	classify	VERB
fbem-10523	94	38	its	its	PRON
fbem-10523	94	39	business	business	NOUN
fbem-10523	94	40	in	in	ADP
fbem-10523	94	41	detail	detail	NOUN
fbem-10523	94	42	,	,	PUNCT
fbem-10523	94	43	which	which	PRON
fbem-10523	94	44	leads	lead	VERB
fbem-10523	94	45	to	to	ADP
fbem-10523	94	46	conflicts	conflict	NOUN
fbem-10523	94	47	between	between	ADP
fbem-10523	94	48	the	the	DET
fbem-10523	94	49	two	two	NUM
fbem-10523	94	50	business	business	NOUN
fbem-10523	94	51	models	model	NOUN
fbem-10523	94	52	,	,	PUNCT
fbem-10523	94	53	thus	thus	ADV
fbem-10523	94	54	increasing	increase	VERB
fbem-10523	94	55	the	the	DET
fbem-10523	94	56	risk	risk	NOUN
fbem-10523	94	57	of	of	ADP
fbem-10523	94	58	business	business	NOUN
fbem-10523	94	59	integration	integration	NOUN
fbem-10523	94	60	.	.	PUNCT
fbem-10523	95	1	if	if	SCONJ
fbem-10523	95	2	the	the	DET
fbem-10523	95	3	business	business	NOUN
fbem-10523	95	4	is	be	AUX
fbem-10523	95	5	not	not	PART
fbem-10523	95	6	well	well	ADV
fbem-10523	95	7	integrated	integrate	VERB
fbem-10523	95	8	,	,	PUNCT
fbem-10523	95	9	it	it	PRON
fbem-10523	95	10	will	will	AUX
fbem-10523	95	11	affect	affect	VERB
fbem-10523	95	12	the	the	DET
fbem-10523	95	13	layout	layout	NOUN
fbem-10523	95	14	of	of	ADP
fbem-10523	95	15	smart	smart	ADJ
fbem-10523	95	16	retail	retail	NOUN
fbem-10523	95	17	,	,	PUNCT
fbem-10523	95	18	which	which	PRON
fbem-10523	95	19	will	will	AUX
fbem-10523	95	20	also	also	ADV
fbem-10523	95	21	affect	affect	VERB
fbem-10523	95	22	the	the	DET
fbem-10523	95	23	subsequent	subsequent	ADJ
fbem-10523	95	24	development	development	NOUN
fbem-10523	95	25	of	of	ADP
fbem-10523	95	26	suning	sun	VERB
fbem-10523	95	27	,	,	PUNCT
fbem-10523	95	28	bringing	bring	VERB
fbem-10523	95	29	certain	certain	ADJ
fbem-10523	95	30	risks	risk	NOUN
fbem-10523	95	31	.	.	PUNCT
fbem-10523	96	1	here	here	ADV
fbem-10523	96	2	,	,	PUNCT
fbem-10523	96	3	this	this	DET
fbem-10523	96	4	paper	paper	NOUN
fbem-10523	96	5	mainly	mainly	ADV
fbem-10523	96	6	analyzes	analyze	VERB
fbem-10523	96	7	the	the	DET
fbem-10523	96	8	business	business	NOUN
fbem-10523	96	9	integration	integration	NOUN
fbem-10523	96	10	of	of	ADP
fbem-10523	96	11	suning	sun	VERB
fbem-10523	96	12	tesco	tesco	PROPN
fbem-10523	96	13	from	from	ADP
fbem-10523	96	14	the	the	DET
fbem-10523	96	15	perspective	perspective	NOUN
fbem-10523	96	16	of	of	ADP
fbem-10523	96	17	development	development	NOUN
fbem-10523	96	18	ability	ability	NOUN
fbem-10523	96	19	.	.	PUNCT
fbem-10523	97	1	as	as	SCONJ
fbem-10523	97	2	can	can	AUX
fbem-10523	97	3	be	be	AUX
fbem-10523	97	4	seen	see	VERB
fbem-10523	97	5	from	from	ADP
fbem-10523	97	6	the	the	DET
fbem-10523	97	7	figure	figure	NOUN
fbem-10523	97	8	below	below	ADV
fbem-10523	97	9	,	,	PUNCT
fbem-10523	97	10	both	both	CCONJ
fbem-10523	97	11	the	the	DET
fbem-10523	97	12	growth	growth	NOUN
fbem-10523	97	13	rate	rate	NOUN
fbem-10523	97	14	of	of	ADP
fbem-10523	97	15	net	net	ADJ
fbem-10523	97	16	profit	profit	NOUN
fbem-10523	97	17	and	and	CCONJ
fbem-10523	97	18	operating	operate	VERB
fbem-10523	97	19	income	income	NOUN
fbem-10523	97	20	of	of	ADP
fbem-10523	97	21	suning	sun	VERB
fbem-10523	97	22	tesco	tesco	PROPN
fbem-10523	97	23	were	be	AUX
fbem-10523	97	24	positive	positive	ADJ
fbem-10523	97	25	before	before	ADP
fbem-10523	97	26	the	the	DET
fbem-10523	97	27	merger	merger	NOUN
fbem-10523	97	28	,	,	PUNCT
fbem-10523	97	29	indicating	indicate	VERB
fbem-10523	97	30	that	that	SCONJ
fbem-10523	97	31	the	the	DET
fbem-10523	97	32	enterprise	enterprise	NOUN
fbem-10523	97	33	had	have	VERB
fbem-10523	97	34	a	a	DET
fbem-10523	97	35	good	good	ADJ
fbem-10523	97	36	development	development	NOUN
fbem-10523	97	37	prospect	prospect	NOUN
fbem-10523	97	38	.	.	PUNCT
fbem-10523	98	1	after	after	ADP
fbem-10523	98	2	the	the	DET
fbem-10523	98	3	merger	merger	NOUN
fbem-10523	98	4	,	,	PUNCT
fbem-10523	98	5	suning	sun	VERB
fbem-10523	98	6	tesco	tesco	PROPN
fbem-10523	98	7	turned	turn	VERB
fbem-10523	98	8	to	to	ADP
fbem-10523	98	9	a	a	DET
fbem-10523	98	10	negative	negative	ADJ
fbem-10523	98	11	growth	growth	NOUN
fbem-10523	98	12	state	state	NOUN
fbem-10523	98	13	.	.	PUNCT
fbem-10523	99	1	it	it	PRON
fbem-10523	99	2	has	have	VERB
fbem-10523	99	3	a	a	DET
fbem-10523	99	4	certain	certain	ADJ
fbem-10523	99	5	impact	impact	NOUN
fbem-10523	99	6	on	on	ADP
fbem-10523	99	7	suning	sun	VERB
fbem-10523	99	8	's	's	PART
fbem-10523	99	9	liabilities	liability	NOUN
fbem-10523	99	10	and	and	CCONJ
fbem-10523	99	11	profits	profit	NOUN
fbem-10523	99	12	.	.	PUNCT
fbem-10523	100	1	according	accord	VERB
fbem-10523	100	2	to	to	ADP
fbem-10523	100	3	the	the	DET
fbem-10523	100	4	existing	exist	VERB
fbem-10523	100	5	data	datum	NOUN
fbem-10523	100	6	,	,	PUNCT
fbem-10523	100	7	this	this	DET
fbem-10523	100	8	merger	merger	NOUN
fbem-10523	100	9	has	have	AUX
fbem-10523	100	10	not	not	PART
fbem-10523	100	11	brought	bring	VERB
fbem-10523	100	12	the	the	DET
fbem-10523	100	13	growth	growth	NOUN
fbem-10523	100	14	of	of	ADP
fbem-10523	100	15	the	the	DET
fbem-10523	100	16	company	company	NOUN
fbem-10523	100	17	's	's	PART
fbem-10523	100	18	development	development	NOUN
fbem-10523	100	19	ability	ability	NOUN
fbem-10523	100	20	to	to	PART
fbem-10523	100	21	suning	sun	VERB
fbem-10523	100	22	,	,	PUNCT
fbem-10523	100	23	and	and	CCONJ
fbem-10523	100	24	has	have	AUX
fbem-10523	100	25	affected	affect	VERB
fbem-10523	100	26	the	the	DET
fbem-10523	100	27	development	development	NOUN
fbem-10523	100	28	ability	ability	NOUN
fbem-10523	100	29	of	of	ADP
fbem-10523	100	30	suning	sun	VERB
fbem-10523	100	31	to	to	ADP
fbem-10523	100	32	a	a	DET
fbem-10523	100	33	certain	certain	ADJ
fbem-10523	100	34	extent	extent	NOUN
fbem-10523	100	35	.	.	PUNCT
fbem-10523	101	1	table	table	NOUN
fbem-10523	101	2	3	3	NUM
fbem-10523	101	3	.	.	PUNCT
fbem-10523	102	1	indicators	indicator	NOUN
fbem-10523	102	2	of	of	ADP
fbem-10523	102	3	suning	sun	VERB
fbem-10523	102	4	tesco	tesco	PROPN
fbem-10523	102	5	's	's	PART
fbem-10523	102	6	development	development	NOUN
fbem-10523	102	7	capability	capability	NOUN
fbem-10523	102	8	from	from	ADP
fbem-10523	102	9	2017	2017	NUM
fbem-10523	102	10	to	to	ADP
fbem-10523	102	11	2022	2022	NUM
fbem-10523	102	12	figure	figure	NOUN
fbem-10523	102	13	3	3	NUM
fbem-10523	102	14	.	.	PUNCT
fbem-10523	103	1	change	change	NOUN
fbem-10523	103	2	trend	trend	NOUN
fbem-10523	103	3	of	of	ADP
fbem-10523	103	4	suning	sun	VERB
fbem-10523	103	5	tesco	tesco	PROPN
fbem-10523	103	6	's	's	PART
fbem-10523	103	7	development	development	NOUN
fbem-10523	103	8	capability	capability	NOUN
fbem-10523	103	9	index	index	NOUN
fbem-10523	103	10	from	from	ADP
fbem-10523	103	11	2017	2017	NUM
fbem-10523	103	12	to	to	ADP
fbem-10523	103	13	2022	2022	NUM
fbem-10523	103	14	fiscal	fiscal	ADJ
fbem-10523	103	15	year	year	NOUN
fbem-10523	103	16	2017	2017	NUM
fbem-10523	103	17	2018	2018	NUM
fbem-10523	103	18	2019	2019	NUM
fbem-10523	103	19	2020	2020	NUM
fbem-10523	103	20	2021	2021	NUM
fbem-10523	103	21	2022	2022	NUM
fbem-10523	103	22	net	net	ADJ
fbem-10523	103	23	profit	profit	NOUN
fbem-10523	103	24	growth	growth	NOUN
fbem-10523	103	25	rate	rate	NOUN
fbem-10523	103	26	721.02	721.02	NUM
fbem-10523	103	27	212.2	212.2	NUM
fbem-10523	103	28	-26.28	-26.28	NUM
fbem-10523	103	29	-157.49	-157.49	PROPN
fbem-10523	103	30	7.25	7.25	NUM
fbem-10523	103	31	-0.62	-0.62	NOUN
fbem-10523	103	32	growth	growth	NOUN
fbem-10523	103	33	rate	rate	NOUN
fbem-10523	103	34	of	of	ADP
fbem-10523	103	35	operating	operate	VERB
fbem-10523	103	36	i	i	PROPN
fbem-10523	103	37	26.48	26.48	NUM
fbem-10523	103	38	30.35	30.35	NUM
fbem-10523	103	39	9.91	9.91	NUM
fbem-10523	103	40	-6.29	-6.29	PROPN
fbem-10523	103	41	-0.45	-0.45	NUM
fbem-10523	103	42	-1.00	-1.00	NUM
fbem-10523	103	43	58	58	NUM
fbem-10523	103	44	6	6	NUM
fbem-10523	103	45	.	.	PUNCT
fbem-10523	104	1	m&a	m&a	PROPN
fbem-10523	104	2	risk	risk	NOUN
fbem-10523	104	3	prevention	prevention	NOUN
fbem-10523	104	4	measures	measure	NOUN
fbem-10523	104	5	6.1	6.1	NUM
fbem-10523	104	6	.	.	PUNCT
fbem-10523	105	1	risk	risk	NOUN
fbem-10523	105	2	prevention	prevention	NOUN
fbem-10523	105	3	in	in	ADP
fbem-10523	105	4	the	the	DET
fbem-10523	105	5	preparation	preparation	NOUN
fbem-10523	105	6	stage	stage	NOUN
fbem-10523	105	7	of	of	ADP
fbem-10523	105	8	m&a	m&a	PROPN
fbem-10523	105	9	on	on	ADP
fbem-10523	105	10	the	the	DET
fbem-10523	105	11	one	one	NUM
fbem-10523	105	12	hand	hand	NOUN
fbem-10523	105	13	,	,	PUNCT
fbem-10523	105	14	when	when	SCONJ
fbem-10523	105	15	an	an	DET
fbem-10523	105	16	enterprise	enterprise	NOUN
fbem-10523	105	17	has	have	VERB
fbem-10523	105	18	merger	merger	NOUN
fbem-10523	105	19	and	and	CCONJ
fbem-10523	105	20	acquisition	acquisition	NOUN
fbem-10523	105	21	activities	activity	NOUN
fbem-10523	105	22	,	,	PUNCT
fbem-10523	105	23	the	the	DET
fbem-10523	105	24	first	first	ADJ
fbem-10523	105	25	thing	thing	NOUN
fbem-10523	105	26	is	be	AUX
fbem-10523	105	27	to	to	PART
fbem-10523	105	28	choose	choose	VERB
fbem-10523	105	29	the	the	DET
fbem-10523	105	30	target	target	NOUN
fbem-10523	105	31	enterprise	enterprise	NOUN
fbem-10523	105	32	.	.	PUNCT
fbem-10523	106	1	the	the	DET
fbem-10523	106	2	choice	choice	NOUN
fbem-10523	106	3	of	of	ADP
fbem-10523	106	4	target	target	NOUN
fbem-10523	106	5	enterprises	enterprise	NOUN
fbem-10523	106	6	is	be	AUX
fbem-10523	106	7	not	not	PART
fbem-10523	106	8	blind	blind	ADJ
fbem-10523	106	9	expansion	expansion	NOUN
fbem-10523	106	10	,	,	PUNCT
fbem-10523	106	11	and	and	CCONJ
fbem-10523	106	12	whether	whether	SCONJ
fbem-10523	106	13	it	it	PRON
fbem-10523	106	14	is	be	AUX
fbem-10523	106	15	in	in	ADP
fbem-10523	106	16	line	line	NOUN
fbem-10523	106	17	with	with	ADP
fbem-10523	106	18	the	the	DET
fbem-10523	106	19	company	company	NOUN
fbem-10523	106	20	's	's	PART
fbem-10523	106	21	development	development	NOUN
fbem-10523	106	22	strategy	strategy	NOUN
fbem-10523	106	23	,	,	PUNCT
fbem-10523	106	24	strategic	strategic	ADJ
fbem-10523	106	25	mergers	merger	NOUN
fbem-10523	106	26	and	and	CCONJ
fbem-10523	106	27	acquisitions	acquisition	NOUN
fbem-10523	106	28	can	can	AUX
fbem-10523	106	29	give	give	VERB
fbem-10523	106	30	full	full	ADJ
fbem-10523	106	31	play	play	NOUN
fbem-10523	106	32	to	to	ADP
fbem-10523	106	33	the	the	DET
fbem-10523	106	34	synergies	synergy	NOUN
fbem-10523	106	35	.	.	PUNCT
fbem-10523	107	1	in	in	ADP
fbem-10523	107	2	this	this	DET
fbem-10523	107	3	case	case	NOUN
fbem-10523	107	4	,	,	PUNCT
fbem-10523	107	5	in	in	ADP
fbem-10523	107	6	order	order	NOUN
fbem-10523	107	7	to	to	PART
fbem-10523	107	8	build	build	VERB
fbem-10523	107	9	"	"	PUNCT
fbem-10523	107	10	smart	smart	ADJ
fbem-10523	107	11	retail	retail	NOUN
fbem-10523	107	12	"	"	PUNCT
fbem-10523	107	13	,	,	PUNCT
fbem-10523	107	14	suning	sun	VERB
fbem-10523	107	15	tesco	tesco	PROPN
fbem-10523	107	16	began	begin	VERB
fbem-10523	107	17	to	to	PART
fbem-10523	107	18	layout	layout	VERB
fbem-10523	107	19	through	through	ADP
fbem-10523	107	20	mergers	merger	NOUN
fbem-10523	107	21	and	and	CCONJ
fbem-10523	107	22	acquisitions	acquisition	NOUN
fbem-10523	107	23	,	,	PUNCT
fbem-10523	107	24	which	which	PRON
fbem-10523	107	25	is	be	AUX
fbem-10523	107	26	worthy	worthy	ADJ
fbem-10523	107	27	of	of	ADP
fbem-10523	107	28	learning	learn	VERB
fbem-10523	107	29	from	from	ADP
fbem-10523	107	30	other	other	ADJ
fbem-10523	107	31	enterprises	enterprise	NOUN
fbem-10523	107	32	.	.	PUNCT
fbem-10523	108	1	on	on	ADP
fbem-10523	108	2	the	the	DET
fbem-10523	108	3	other	other	ADJ
fbem-10523	108	4	hand	hand	NOUN
fbem-10523	108	5	,	,	PUNCT
fbem-10523	108	6	after	after	ADP
fbem-10523	108	7	determining	determine	VERB
fbem-10523	108	8	the	the	DET
fbem-10523	108	9	needs	need	NOUN
fbem-10523	108	10	of	of	ADP
fbem-10523	108	11	the	the	DET
fbem-10523	108	12	target	target	NOUN
fbem-10523	108	13	enterprise	enterprise	NOUN
fbem-10523	108	14	,	,	PUNCT
fbem-10523	108	15	it	it	PRON
fbem-10523	108	16	is	be	AUX
fbem-10523	108	17	necessary	necessary	ADJ
fbem-10523	108	18	to	to	PART
fbem-10523	108	19	conduct	conduct	VERB
fbem-10523	108	20	a	a	DET
fbem-10523	108	21	scientific	scientific	ADJ
fbem-10523	108	22	and	and	CCONJ
fbem-10523	108	23	reasonable	reasonable	ADJ
fbem-10523	108	24	evaluation	evaluation	NOUN
fbem-10523	108	25	of	of	ADP
fbem-10523	108	26	the	the	DET
fbem-10523	108	27	m&a	m&a	PROPN
fbem-10523	108	28	enterprise	enterprise	NOUN
fbem-10523	108	29	to	to	PART
fbem-10523	108	30	avoid	avoid	VERB
fbem-10523	108	31	excessive	excessive	ADJ
fbem-10523	108	32	m&a	m&a	PROPN
fbem-10523	108	33	premium	premium	NOUN
fbem-10523	108	34	affecting	affect	VERB
fbem-10523	108	35	capital	capital	NOUN
fbem-10523	108	36	operation	operation	NOUN
fbem-10523	108	37	.	.	PUNCT
fbem-10523	109	1	especially	especially	ADV
fbem-10523	109	2	in	in	ADP
fbem-10523	109	3	such	such	ADJ
fbem-10523	109	4	cross	cross	ADJ
fbem-10523	109	5	-	-	ADJ
fbem-10523	109	6	border	border	ADJ
fbem-10523	109	7	m&a	m&a	PROPN
fbem-10523	109	8	activities	activity	NOUN
fbem-10523	109	9	,	,	PUNCT
fbem-10523	109	10	incomplete	incomplete	ADJ
fbem-10523	109	11	market	market	NOUN
fbem-10523	109	12	information	information	NOUN
fbem-10523	109	13	disclosure	disclosure	NOUN
fbem-10523	109	14	will	will	AUX
fbem-10523	109	15	inevitably	inevitably	ADV
fbem-10523	109	16	lead	lead	VERB
fbem-10523	109	17	to	to	ADP
fbem-10523	109	18	information	information	NOUN
fbem-10523	109	19	asymmetry	asymmetry	NOUN
fbem-10523	109	20	,	,	PUNCT
fbem-10523	109	21	which	which	PRON
fbem-10523	109	22	will	will	AUX
fbem-10523	109	23	have	have	VERB
fbem-10523	109	24	an	an	DET
fbem-10523	109	25	inestimable	inestimable	ADJ
fbem-10523	109	26	impact	impact	NOUN
fbem-10523	109	27	on	on	ADP
fbem-10523	109	28	the	the	DET
fbem-10523	109	29	evaluation	evaluation	NOUN
fbem-10523	109	30	of	of	ADP
fbem-10523	109	31	the	the	DET
fbem-10523	109	32	enterprise	enterprise	NOUN
fbem-10523	109	33	.	.	PUNCT
fbem-10523	110	1	in	in	ADP
fbem-10523	110	2	addition	addition	NOUN
fbem-10523	110	3	,	,	PUNCT
fbem-10523	110	4	after	after	ADP
fbem-10523	110	5	understanding	understand	VERB
fbem-10523	110	6	the	the	DET
fbem-10523	110	7	basic	basic	ADJ
fbem-10523	110	8	information	information	NOUN
fbem-10523	110	9	of	of	ADP
fbem-10523	110	10	the	the	DET
fbem-10523	110	11	target	target	NOUN
fbem-10523	110	12	enterprise	enterprise	NOUN
fbem-10523	110	13	,	,	PUNCT
fbem-10523	110	14	a	a	DET
fbem-10523	110	15	scientific	scientific	ADJ
fbem-10523	110	16	evaluation	evaluation	NOUN
fbem-10523	110	17	system	system	NOUN
fbem-10523	110	18	should	should	AUX
fbem-10523	110	19	be	be	AUX
fbem-10523	110	20	established	establish	VERB
fbem-10523	110	21	for	for	ADP
fbem-10523	110	22	its	its	PRON
fbem-10523	110	23	value	value	NOUN
fbem-10523	110	24	,	,	PUNCT
fbem-10523	110	25	which	which	PRON
fbem-10523	110	26	can	can	AUX
fbem-10523	110	27	be	be	AUX
fbem-10523	110	28	carried	carry	VERB
fbem-10523	110	29	out	out	ADP
fbem-10523	110	30	from	from	ADP
fbem-10523	110	31	the	the	DET
fbem-10523	110	32	perspectives	perspective	NOUN
fbem-10523	110	33	of	of	ADP
fbem-10523	110	34	finance	finance	NOUN
fbem-10523	110	35	,	,	PUNCT
fbem-10523	110	36	industry	industry	NOUN
fbem-10523	110	37	and	and	CCONJ
fbem-10523	110	38	operating	operate	VERB
fbem-10523	110	39	status	status	NOUN
fbem-10523	110	40	.	.	PUNCT
fbem-10523	111	1	a	a	DET
fbem-10523	111	2	rigorous	rigorous	ADJ
fbem-10523	111	3	evaluation	evaluation	NOUN
fbem-10523	111	4	system	system	NOUN
fbem-10523	111	5	can	can	AUX
fbem-10523	111	6	predict	predict	VERB
fbem-10523	111	7	the	the	DET
fbem-10523	111	8	future	future	ADJ
fbem-10523	111	9	development	development	NOUN
fbem-10523	111	10	and	and	CCONJ
fbem-10523	111	11	profitability	profitability	NOUN
fbem-10523	111	12	of	of	ADP
fbem-10523	111	13	the	the	DET
fbem-10523	111	14	target	target	NOUN
fbem-10523	111	15	enterprise	enterprise	NOUN
fbem-10523	111	16	,	,	PUNCT
fbem-10523	111	17	which	which	PRON
fbem-10523	111	18	is	be	AUX
fbem-10523	111	19	of	of	ADP
fbem-10523	111	20	great	great	ADJ
fbem-10523	111	21	help	help	NOUN
fbem-10523	111	22	to	to	ADP
fbem-10523	111	23	the	the	DET
fbem-10523	111	24	merger	merger	NOUN
fbem-10523	111	25	and	and	CCONJ
fbem-10523	111	26	integration	integration	NOUN
fbem-10523	111	27	.	.	PUNCT
fbem-10523	112	1	at	at	ADP
fbem-10523	112	2	the	the	DET
fbem-10523	112	3	same	same	ADJ
fbem-10523	112	4	time	time	NOUN
fbem-10523	112	5	,	,	PUNCT
fbem-10523	112	6	a	a	DET
fbem-10523	112	7	reasonable	reasonable	ADJ
fbem-10523	112	8	evaluation	evaluation	NOUN
fbem-10523	112	9	system	system	NOUN
fbem-10523	112	10	can	can	AUX
fbem-10523	112	11	effectively	effectively	ADV
fbem-10523	112	12	reduce	reduce	VERB
fbem-10523	112	13	pricing	pricing	NOUN
fbem-10523	112	14	risks	risk	NOUN
fbem-10523	112	15	and	and	CCONJ
fbem-10523	112	16	prevent	prevent	VERB
fbem-10523	112	17	excessive	excessive	ADJ
fbem-10523	112	18	premium	premium	NOUN
fbem-10523	112	19	from	from	ADP
fbem-10523	112	20	being	be	AUX
fbem-10523	112	21	paid	pay	VERB
fbem-10523	112	22	for	for	ADP
fbem-10523	112	23	the	the	DET
fbem-10523	112	24	real	real	ADJ
fbem-10523	112	25	value	value	NOUN
fbem-10523	112	26	evaluation	evaluation	NOUN
fbem-10523	112	27	of	of	ADP
fbem-10523	112	28	the	the	DET
fbem-10523	112	29	target	target	NOUN
fbem-10523	112	30	enterprises	enterprise	NOUN
fbem-10523	112	31	.	.	PUNCT
fbem-10523	113	1	6.2	6.2	NUM
fbem-10523	113	2	.	.	PUNCT
fbem-10523	113	3	risk	risk	NOUN
fbem-10523	113	4	prevention	prevention	NOUN
fbem-10523	113	5	in	in	ADP
fbem-10523	113	6	m&a	m&a	PROPN
fbem-10523	113	7	implementation	implementation	NOUN
fbem-10523	113	8	stage	stage	NOUN
fbem-10523	113	9	in	in	ADP
fbem-10523	113	10	this	this	DET
fbem-10523	113	11	paper	paper	NOUN
fbem-10523	113	12	,	,	PUNCT
fbem-10523	113	13	suning	sun	VERB
fbem-10523	113	14	chooses	choose	VERB
fbem-10523	113	15	to	to	PART
fbem-10523	113	16	pay	pay	VERB
fbem-10523	113	17	the	the	DET
fbem-10523	113	18	acquisition	acquisition	NOUN
fbem-10523	113	19	consideration	consideration	NOUN
fbem-10523	113	20	in	in	ADP
fbem-10523	113	21	cash	cash	NOUN
fbem-10523	113	22	,	,	PUNCT
fbem-10523	113	23	which	which	PRON
fbem-10523	113	24	will	will	AUX
fbem-10523	113	25	undoubtedly	undoubtedly	ADV
fbem-10523	113	26	cause	cause	VERB
fbem-10523	113	27	a	a	DET
fbem-10523	113	28	sharp	sharp	ADJ
fbem-10523	113	29	drop	drop	NOUN
fbem-10523	113	30	in	in	ADP
fbem-10523	113	31	short	short	ADJ
fbem-10523	113	32	-	-	PUNCT
fbem-10523	113	33	term	term	NOUN
fbem-10523	113	34	cash	cash	NOUN
fbem-10523	113	35	flow	flow	NOUN
fbem-10523	113	36	.	.	PUNCT
fbem-10523	114	1	therefore	therefore	ADV
fbem-10523	114	2	,	,	PUNCT
fbem-10523	114	3	before	before	ADP
fbem-10523	114	4	choosing	choose	VERB
fbem-10523	114	5	to	to	PART
fbem-10523	114	6	pay	pay	VERB
fbem-10523	114	7	in	in	ADP
fbem-10523	114	8	cash	cash	NOUN
fbem-10523	114	9	,	,	PUNCT
fbem-10523	114	10	it	it	PRON
fbem-10523	114	11	should	should	AUX
fbem-10523	114	12	fully	fully	ADV
fbem-10523	114	13	measure	measure	VERB
fbem-10523	114	14	whether	whether	SCONJ
fbem-10523	114	15	the	the	DET
fbem-10523	114	16	operating	operate	VERB
fbem-10523	114	17	turnover	turnover	NOUN
fbem-10523	114	18	of	of	ADP
fbem-10523	114	19	other	other	ADJ
fbem-10523	114	20	businesses	business	NOUN
fbem-10523	114	21	can	can	AUX
fbem-10523	114	22	be	be	AUX
fbem-10523	114	23	satisfied	satisfied	ADJ
fbem-10523	114	24	after	after	ADP
fbem-10523	114	25	the	the	DET
fbem-10523	114	26	payment	payment	NOUN
fbem-10523	114	27	of	of	ADP
fbem-10523	114	28	its	its	PRON
fbem-10523	114	29	own	own	ADJ
fbem-10523	114	30	funds	fund	NOUN
fbem-10523	114	31	,	,	PUNCT
fbem-10523	114	32	or	or	CCONJ
fbem-10523	114	33	whether	whether	SCONJ
fbem-10523	114	34	other	other	ADJ
fbem-10523	114	35	strategic	strategic	ADJ
fbem-10523	114	36	opportunities	opportunity	NOUN
fbem-10523	114	37	lost	lose	VERB
fbem-10523	114	38	during	during	ADP
fbem-10523	114	39	the	the	DET
fbem-10523	114	40	period	period	NOUN
fbem-10523	114	41	of	of	ADP
fbem-10523	114	42	shortage	shortage	NOUN
fbem-10523	114	43	of	of	ADP
fbem-10523	114	44	funds	fund	NOUN
fbem-10523	114	45	can	can	AUX
fbem-10523	114	46	be	be	AUX
fbem-10523	114	47	made	make	VERB
fbem-10523	114	48	up	up	ADP
fbem-10523	114	49	through	through	ADP
fbem-10523	114	50	this	this	DET
fbem-10523	114	51	acquisition	acquisition	NOUN
fbem-10523	114	52	.	.	PUNCT
fbem-10523	115	1	in	in	ADP
fbem-10523	115	2	other	other	ADJ
fbem-10523	115	3	words	word	NOUN
fbem-10523	115	4	,	,	PUNCT
fbem-10523	115	5	when	when	SCONJ
fbem-10523	115	6	choosing	choose	VERB
fbem-10523	115	7	cash	cash	NOUN
fbem-10523	115	8	payment	payment	NOUN
fbem-10523	115	9	,	,	PUNCT
fbem-10523	115	10	enterprises	enterprise	NOUN
fbem-10523	115	11	should	should	AUX
fbem-10523	115	12	prevent	prevent	VERB
fbem-10523	115	13	the	the	DET
fbem-10523	115	14	increase	increase	NOUN
fbem-10523	115	15	of	of	ADP
fbem-10523	115	16	opportunity	opportunity	NOUN
fbem-10523	115	17	cost	cost	NOUN
fbem-10523	115	18	caused	cause	VERB
fbem-10523	115	19	by	by	ADP
fbem-10523	115	20	high	high	ADJ
fbem-10523	115	21	cash	cash	NOUN
fbem-10523	115	22	reserves	reserve	NOUN
fbem-10523	115	23	,	,	PUNCT
fbem-10523	115	24	prevent	prevent	VERB
fbem-10523	115	25	the	the	DET
fbem-10523	115	26	payment	payment	NOUN
fbem-10523	115	27	risk	risk	NOUN
fbem-10523	115	28	caused	cause	VERB
fbem-10523	115	29	by	by	ADP
fbem-10523	115	30	insufficient	insufficient	ADJ
fbem-10523	115	31	funds	fund	NOUN
fbem-10523	115	32	,	,	PUNCT
fbem-10523	115	33	and	and	CCONJ
fbem-10523	115	34	strengthen	strengthen	VERB
fbem-10523	115	35	the	the	DET
fbem-10523	115	36	fund	fund	NOUN
fbem-10523	115	37	budget	budget	NOUN
fbem-10523	115	38	management	management	NOUN
fbem-10523	115	39	to	to	PART
fbem-10523	115	40	avoid	avoid	VERB
fbem-10523	115	41	capital	capital	NOUN
fbem-10523	115	42	loss	loss	NOUN
fbem-10523	115	43	.	.	PUNCT
fbem-10523	116	1	in	in	ADP
fbem-10523	116	2	addition	addition	NOUN
fbem-10523	116	3	,	,	PUNCT
fbem-10523	116	4	when	when	SCONJ
fbem-10523	116	5	the	the	DET
fbem-10523	116	6	enterprise	enterprise	NOUN
fbem-10523	116	7	chooses	choose	VERB
fbem-10523	116	8	the	the	DET
fbem-10523	116	9	means	mean	NOUN
fbem-10523	116	10	of	of	ADP
fbem-10523	116	11	payment	payment	NOUN
fbem-10523	116	12	,	,	PUNCT
fbem-10523	116	13	the	the	DET
fbem-10523	116	14	diversified	diversify	VERB
fbem-10523	116	15	means	mean	NOUN
fbem-10523	116	16	of	of	ADP
fbem-10523	116	17	payment	payment	NOUN
fbem-10523	116	18	can	can	AUX
fbem-10523	116	19	reduce	reduce	VERB
fbem-10523	116	20	the	the	DET
fbem-10523	116	21	unilateral	unilateral	ADJ
fbem-10523	116	22	merger	merger	NOUN
fbem-10523	116	23	risk	risk	NOUN
fbem-10523	116	24	of	of	ADP
fbem-10523	116	25	the	the	DET
fbem-10523	116	26	merger	merger	NOUN
fbem-10523	116	27	and	and	CCONJ
fbem-10523	116	28	acquisition	acquisition	NOUN
fbem-10523	116	29	enterprise	enterprise	NOUN
fbem-10523	116	30	.	.	PUNCT
fbem-10523	117	1	therefore	therefore	ADV
fbem-10523	117	2	,	,	PUNCT
fbem-10523	117	3	in	in	ADP
fbem-10523	117	4	the	the	DET
fbem-10523	117	5	payment	payment	NOUN
fbem-10523	117	6	stage	stage	NOUN
fbem-10523	117	7	,	,	PUNCT
fbem-10523	117	8	this	this	DET
fbem-10523	117	9	paper	paper	NOUN
fbem-10523	117	10	believes	believe	VERB
fbem-10523	117	11	that	that	SCONJ
fbem-10523	117	12	enterprises	enterprise	NOUN
fbem-10523	117	13	should	should	AUX
fbem-10523	117	14	consider	consider	VERB
fbem-10523	117	15	adopting	adopt	VERB
fbem-10523	117	16	a	a	DET
fbem-10523	117	17	mixed	mixed	ADJ
fbem-10523	117	18	payment	payment	NOUN
fbem-10523	117	19	method	method	NOUN
fbem-10523	117	20	of	of	ADP
fbem-10523	117	21	multiple	multiple	ADJ
fbem-10523	117	22	payment	payment	NOUN
fbem-10523	117	23	means	mean	NOUN
fbem-10523	117	24	to	to	PART
fbem-10523	117	25	avoid	avoid	VERB
fbem-10523	117	26	the	the	DET
fbem-10523	117	27	sudden	sudden	ADJ
fbem-10523	117	28	decline	decline	NOUN
fbem-10523	117	29	of	of	ADP
fbem-10523	117	30	capital	capital	NOUN
fbem-10523	117	31	flow	flow	NOUN
fbem-10523	117	32	in	in	ADP
fbem-10523	117	33	the	the	DET
fbem-10523	117	34	short	short	ADJ
fbem-10523	117	35	term	term	NOUN
fbem-10523	117	36	and	and	CCONJ
fbem-10523	117	37	maintain	maintain	VERB
fbem-10523	117	38	stable	stable	ADJ
fbem-10523	117	39	cash	cash	NOUN
fbem-10523	117	40	flow	flow	NOUN
fbem-10523	117	41	for	for	ADP
fbem-10523	117	42	themselves	themselves	PRON
fbem-10523	117	43	.	.	PUNCT
fbem-10523	118	1	in	in	ADP
fbem-10523	118	2	addition	addition	NOUN
fbem-10523	118	3	,	,	PUNCT
fbem-10523	118	4	on	on	ADP
fbem-10523	118	5	the	the	DET
fbem-10523	118	6	basis	basis	NOUN
fbem-10523	118	7	of	of	ADP
fbem-10523	118	8	reasonable	reasonable	ADJ
fbem-10523	118	9	planning	planning	NOUN
fbem-10523	118	10	of	of	ADP
fbem-10523	118	11	payment	payment	NOUN
fbem-10523	118	12	structure	structure	NOUN
fbem-10523	118	13	,	,	PUNCT
fbem-10523	118	14	appropriate	appropriate	ADJ
fbem-10523	118	15	allocation	allocation	NOUN
fbem-10523	118	16	of	of	ADP
fbem-10523	118	17	the	the	DET
fbem-10523	118	18	use	use	NOUN
fbem-10523	118	19	ratio	ratio	NOUN
fbem-10523	118	20	of	of	ADP
fbem-10523	118	21	various	various	ADJ
fbem-10523	118	22	payment	payment	NOUN
fbem-10523	118	23	means	mean	NOUN
fbem-10523	118	24	can	can	AUX
fbem-10523	118	25	also	also	ADV
fbem-10523	118	26	help	help	VERB
fbem-10523	118	27	enterprises	enterprise	NOUN
fbem-10523	118	28	reduce	reduce	VERB
fbem-10523	118	29	payment	payment	NOUN
fbem-10523	118	30	costs	cost	NOUN
fbem-10523	118	31	and	and	CCONJ
fbem-10523	118	32	ensure	ensure	VERB
fbem-10523	118	33	normal	normal	ADJ
fbem-10523	118	34	operation	operation	NOUN
fbem-10523	118	35	of	of	ADP
fbem-10523	118	36	enterprises	enterprise	NOUN
fbem-10523	118	37	.	.	PUNCT
fbem-10523	119	1	6.3	6.3	NUM
fbem-10523	119	2	.	.	PUNCT
fbem-10523	120	1	risk	risk	NOUN
fbem-10523	120	2	prevention	prevention	NOUN
fbem-10523	120	3	after	after	ADP
fbem-10523	120	4	the	the	DET
fbem-10523	120	5	completion	completion	NOUN
fbem-10523	120	6	of	of	ADP
fbem-10523	120	7	the	the	DET
fbem-10523	120	8	merger	merger	NOUN
fbem-10523	120	9	in	in	ADP
fbem-10523	120	10	terms	term	NOUN
fbem-10523	120	11	of	of	ADP
fbem-10523	120	12	finance	finance	NOUN
fbem-10523	120	13	,	,	PUNCT
fbem-10523	120	14	it	it	PRON
fbem-10523	120	15	is	be	AUX
fbem-10523	120	16	required	require	VERB
fbem-10523	120	17	that	that	SCONJ
fbem-10523	120	18	after	after	ADP
fbem-10523	120	19	the	the	DET
fbem-10523	120	20	completion	completion	NOUN
fbem-10523	120	21	of	of	ADP
fbem-10523	120	22	the	the	DET
fbem-10523	120	23	merger	merger	NOUN
fbem-10523	120	24	and	and	CCONJ
fbem-10523	120	25	acquisition	acquisition	NOUN
fbem-10523	120	26	,	,	PUNCT
fbem-10523	120	27	the	the	DET
fbem-10523	120	28	enterprises	enterprise	NOUN
fbem-10523	120	29	of	of	ADP
fbem-10523	120	30	both	both	DET
fbem-10523	120	31	sides	side	NOUN
fbem-10523	120	32	should	should	AUX
fbem-10523	120	33	reorganize	reorganize	VERB
fbem-10523	120	34	the	the	DET
fbem-10523	120	35	financial	financial	ADJ
fbem-10523	120	36	information	information	NOUN
fbem-10523	120	37	and	and	CCONJ
fbem-10523	120	38	other	other	ADJ
fbem-10523	120	39	aspects	aspect	NOUN
fbem-10523	120	40	,	,	PUNCT
fbem-10523	120	41	form	form	VERB
fbem-10523	120	42	a	a	DET
fbem-10523	120	43	consistent	consistent	ADJ
fbem-10523	120	44	,	,	PUNCT
fbem-10523	120	45	standardized	standardized	ADJ
fbem-10523	120	46	and	and	CCONJ
fbem-10523	120	47	unified	unified	ADJ
fbem-10523	120	48	financial	financial	ADJ
fbem-10523	120	49	system	system	NOUN
fbem-10523	120	50	,	,	PUNCT
fbem-10523	120	51	and	and	CCONJ
fbem-10523	120	52	reach	reach	VERB
fbem-10523	120	53	an	an	DET
fbem-10523	120	54	agreed	agree	VERB
fbem-10523	120	55	financial	financial	ADJ
fbem-10523	120	56	goal	goal	NOUN
fbem-10523	120	57	.	.	PUNCT
fbem-10523	121	1	in	in	ADP
fbem-10523	121	2	terms	term	NOUN
fbem-10523	121	3	of	of	ADP
fbem-10523	121	4	culture	culture	NOUN
fbem-10523	121	5	,	,	PUNCT
fbem-10523	121	6	different	different	ADJ
fbem-10523	121	7	enterprises	enterprise	NOUN
fbem-10523	121	8	have	have	VERB
fbem-10523	121	9	different	different	ADJ
fbem-10523	121	10	business	business	NOUN
fbem-10523	121	11	concepts	concept	NOUN
fbem-10523	121	12	and	and	CCONJ
fbem-10523	121	13	managers	manager	NOUN
fbem-10523	121	14	'	'	PART
fbem-10523	121	15	risk	risk	NOUN
fbem-10523	121	16	preferences	preference	NOUN
fbem-10523	121	17	,	,	PUNCT
fbem-10523	121	18	which	which	PRON
fbem-10523	121	19	are	be	AUX
fbem-10523	121	20	bound	bind	VERB
fbem-10523	121	21	to	to	PART
fbem-10523	121	22	form	form	VERB
fbem-10523	121	23	a	a	DET
fbem-10523	121	24	variety	variety	NOUN
fbem-10523	121	25	of	of	ADP
fbem-10523	121	26	corporate	corporate	ADJ
fbem-10523	121	27	cultures	culture	NOUN
fbem-10523	121	28	.	.	PUNCT
fbem-10523	122	1	therefore	therefore	ADV
fbem-10523	122	2	,	,	PUNCT
fbem-10523	122	3	after	after	ADP
fbem-10523	122	4	the	the	DET
fbem-10523	122	5	completion	completion	NOUN
fbem-10523	122	6	of	of	ADP
fbem-10523	122	7	enterprise	enterprise	NOUN
fbem-10523	122	8	mergers	merger	NOUN
fbem-10523	122	9	and	and	CCONJ
fbem-10523	122	10	acquisitions	acquisition	NOUN
fbem-10523	122	11	,	,	PUNCT
fbem-10523	122	12	it	it	PRON
fbem-10523	122	13	is	be	AUX
fbem-10523	122	14	necessary	necessary	ADJ
fbem-10523	122	15	to	to	PART
fbem-10523	122	16	have	have	VERB
fbem-10523	122	17	a	a	DET
fbem-10523	122	18	full	full	ADJ
fbem-10523	122	19	grasp	grasp	NOUN
fbem-10523	122	20	of	of	ADP
fbem-10523	122	21	the	the	DET
fbem-10523	122	22	cultural	cultural	ADJ
fbem-10523	122	23	concepts	concept	NOUN
fbem-10523	122	24	of	of	ADP
fbem-10523	122	25	the	the	DET
fbem-10523	122	26	acquired	acquire	VERB
fbem-10523	122	27	enterprises	enterprise	NOUN
fbem-10523	122	28	and	and	CCONJ
fbem-10523	122	29	give	give	VERB
fbem-10523	122	30	correct	correct	ADJ
fbem-10523	122	31	and	and	CCONJ
fbem-10523	122	32	patient	patient	ADJ
fbem-10523	122	33	guidance	guidance	NOUN
fbem-10523	122	34	.	.	PUNCT
fbem-10523	123	1	in	in	ADP
fbem-10523	123	2	terms	term	NOUN
fbem-10523	123	3	of	of	ADP
fbem-10523	123	4	business	business	NOUN
fbem-10523	123	5	,	,	PUNCT
fbem-10523	123	6	before	before	ADP
fbem-10523	123	7	the	the	DET
fbem-10523	123	8	merger	merger	NOUN
fbem-10523	123	9	,	,	PUNCT
fbem-10523	123	10	both	both	DET
fbem-10523	123	11	companies	company	NOUN
fbem-10523	123	12	have	have	VERB
fbem-10523	123	13	their	their	PRON
fbem-10523	123	14	own	own	ADJ
fbem-10523	123	15	growth	growth	NOUN
fbem-10523	123	16	and	and	CCONJ
fbem-10523	123	17	development	development	NOUN
fbem-10523	123	18	of	of	ADP
fbem-10523	123	19	business	business	NOUN
fbem-10523	123	20	fields	field	NOUN
fbem-10523	123	21	,	,	PUNCT
fbem-10523	123	22	but	but	CCONJ
fbem-10523	123	23	also	also	ADV
fbem-10523	123	24	have	have	VERB
fbem-10523	123	25	their	their	PRON
fbem-10523	123	26	own	own	ADJ
fbem-10523	123	27	relatively	relatively	ADV
fbem-10523	123	28	stable	stable	ADJ
fbem-10523	123	29	customer	customer	NOUN
fbem-10523	123	30	base	base	NOUN
fbem-10523	123	31	,	,	PUNCT
fbem-10523	123	32	each	each	PRON
fbem-10523	123	33	has	have	VERB
fbem-10523	123	34	its	its	PRON
fbem-10523	123	35	own	own	ADJ
fbem-10523	123	36	advantages	advantage	NOUN
fbem-10523	123	37	,	,	PUNCT
fbem-10523	123	38	and	and	CCONJ
fbem-10523	123	39	after	after	SCONJ
fbem-10523	123	40	the	the	DET
fbem-10523	123	41	merger	merger	NOUN
fbem-10523	123	42	is	be	AUX
fbem-10523	123	43	a	a	DET
fbem-10523	123	44	partnership	partnership	NOUN
fbem-10523	123	45	,	,	PUNCT
fbem-10523	123	46	the	the	DET
fbem-10523	123	47	advantages	advantage	NOUN
fbem-10523	123	48	of	of	ADP
fbem-10523	123	49	both	both	DET
fbem-10523	123	50	sides	side	NOUN
fbem-10523	123	51	should	should	AUX
fbem-10523	123	52	be	be	AUX
fbem-10523	123	53	complementary	complementary	ADJ
fbem-10523	123	54	.	.	PUNCT
fbem-10523	124	1	therefore	therefore	ADV
fbem-10523	124	2	,	,	PUNCT
fbem-10523	124	3	the	the	DET
fbem-10523	124	4	two	two	NUM
fbem-10523	124	5	sides	side	NOUN
fbem-10523	124	6	should	should	AUX
fbem-10523	124	7	coordinate	coordinate	VERB
fbem-10523	124	8	development	development	NOUN
fbem-10523	124	9	,	,	PUNCT
fbem-10523	124	10	optimize	optimize	VERB
fbem-10523	124	11	the	the	DET
fbem-10523	124	12	allocation	allocation	NOUN
fbem-10523	124	13	of	of	ADP
fbem-10523	124	14	resources	resource	NOUN
fbem-10523	124	15	on	on	ADP
fbem-10523	124	16	both	both	DET
fbem-10523	124	17	sides	side	NOUN
fbem-10523	124	18	,	,	PUNCT
fbem-10523	124	19	and	and	CCONJ
fbem-10523	124	20	actively	actively	ADV
fbem-10523	124	21	promote	promote	VERB
fbem-10523	124	22	the	the	DET
fbem-10523	124	23	development	development	NOUN
fbem-10523	124	24	of	of	ADP
fbem-10523	124	25	related	related	ADJ
fbem-10523	124	26	businesses	business	NOUN
fbem-10523	124	27	on	on	ADP
fbem-10523	124	28	the	the	DET
fbem-10523	124	29	basis	basis	NOUN
fbem-10523	124	30	of	of	ADP
fbem-10523	124	31	maintaining	maintain	VERB
fbem-10523	124	32	their	their	PRON
fbem-10523	124	33	own	own	ADJ
fbem-10523	124	34	characteristics	characteristic	NOUN
fbem-10523	124	35	.	.	PUNCT
fbem-10523	125	1	7	7	X
fbem-10523	125	2	.	.	X
fbem-10523	125	3	closing	closing	NOUN
fbem-10523	125	4	remarks	remark	NOUN
fbem-10523	125	5	this	this	DET
fbem-10523	125	6	paper	paper	NOUN
fbem-10523	125	7	takes	take	VERB
fbem-10523	125	8	the	the	DET
fbem-10523	125	9	merger	merger	NOUN
fbem-10523	125	10	and	and	CCONJ
fbem-10523	125	11	acquisition	acquisition	NOUN
fbem-10523	125	12	of	of	ADP
fbem-10523	125	13	carrefour	carrefour	NOUN
fbem-10523	125	14	by	by	ADP
fbem-10523	125	15	suning	sun	VERB
fbem-10523	125	16	tesco	tesco	PROPN
fbem-10523	125	17	as	as	ADP
fbem-10523	125	18	an	an	DET
fbem-10523	125	19	example	example	NOUN
fbem-10523	125	20	,	,	PUNCT
fbem-10523	125	21	first	first	ADV
fbem-10523	125	22	analyzes	analyze	VERB
fbem-10523	125	23	the	the	DET
fbem-10523	125	24	motivation	motivation	NOUN
fbem-10523	125	25	of	of	ADP
fbem-10523	125	26	the	the	DET
fbem-10523	125	27	merger	merger	NOUN
fbem-10523	125	28	,	,	PUNCT
fbem-10523	125	29	and	and	CCONJ
fbem-10523	125	30	then	then	ADV
fbem-10523	125	31	analyzes	analyze	VERB
fbem-10523	125	32	the	the	DET
fbem-10523	125	33	possible	possible	ADJ
fbem-10523	125	34	risks	risk	NOUN
fbem-10523	125	35	hidden	hide	VERB
fbem-10523	125	36	in	in	ADP
fbem-10523	125	37	the	the	DET
fbem-10523	125	38	whole	whole	ADJ
fbem-10523	125	39	process	process	NOUN
fbem-10523	125	40	of	of	ADP
fbem-10523	125	41	the	the	DET
fbem-10523	125	42	merger	merger	NOUN
fbem-10523	125	43	and	and	CCONJ
fbem-10523	125	44	acquisition	acquisition	NOUN
fbem-10523	125	45	,	,	PUNCT
fbem-10523	125	46	and	and	CCONJ
fbem-10523	125	47	based	base	VERB
fbem-10523	125	48	on	on	ADP
fbem-10523	125	49	this	this	PRON
fbem-10523	125	50	,	,	PUNCT
fbem-10523	125	51	provides	provide	VERB
fbem-10523	125	52	reference	reference	NOUN
fbem-10523	125	53	suggestions	suggestion	NOUN
fbem-10523	125	54	for	for	ADP
fbem-10523	125	55	preventing	prevent	VERB
fbem-10523	125	56	risks	risk	NOUN
fbem-10523	125	57	in	in	ADP
fbem-10523	125	58	the	the	DET
fbem-10523	125	59	same	same	ADJ
fbem-10523	125	60	industry	industry	NOUN
fbem-10523	125	61	.	.	PUNCT
fbem-10523	126	1	however	however	ADV
fbem-10523	126	2	,	,	PUNCT
fbem-10523	126	3	there	there	PRON
fbem-10523	126	4	are	be	VERB
fbem-10523	126	5	many	many	ADJ
fbem-10523	126	6	differences	difference	NOUN
fbem-10523	126	7	between	between	ADP
fbem-10523	126	8	each	each	DET
fbem-10523	126	9	company	company	NOUN
fbem-10523	126	10	.	.	PUNCT
fbem-10523	127	1	therefore	therefore	ADV
fbem-10523	127	2	,	,	PUNCT
fbem-10523	127	3	in	in	ADP
fbem-10523	127	4	the	the	DET
fbem-10523	127	5	preparation	preparation	NOUN
fbem-10523	127	6	stage	stage	NOUN
fbem-10523	127	7	of	of	ADP
fbem-10523	127	8	m&a	m&a	PROPN
fbem-10523	127	9	,	,	PUNCT
fbem-10523	127	10	enterprises	enterprise	NOUN
fbem-10523	127	11	should	should	AUX
fbem-10523	127	12	select	select	VERB
fbem-10523	127	13	the	the	DET
fbem-10523	127	14	appropriate	appropriate	ADJ
fbem-10523	127	15	target	target	NOUN
fbem-10523	127	16	enterprises	enterprise	NOUN
fbem-10523	127	17	according	accord	VERB
fbem-10523	127	18	to	to	ADP
fbem-10523	127	19	their	their	PRON
fbem-10523	127	20	strategic	strategic	ADJ
fbem-10523	127	21	layout	layout	NOUN
fbem-10523	127	22	and	and	CCONJ
fbem-10523	127	23	financial	financial	ADJ
fbem-10523	127	24	status	status	NOUN
fbem-10523	127	25	,	,	PUNCT
fbem-10523	127	26	and	and	CCONJ
fbem-10523	127	27	carry	carry	VERB
fbem-10523	127	28	out	out	ADP
fbem-10523	127	29	necessary	necessary	ADJ
fbem-10523	127	30	scientific	scientific	ADJ
fbem-10523	127	31	evaluation	evaluation	NOUN
fbem-10523	127	32	;	;	PUNCT
fbem-10523	127	33	in	in	ADP
fbem-10523	127	34	the	the	DET
fbem-10523	127	35	m&a	m&a	PROPN
fbem-10523	127	36	stage	stage	NOUN
fbem-10523	127	37	,	,	PUNCT
fbem-10523	127	38	we	we	PRON
fbem-10523	127	39	should	should	AUX
fbem-10523	127	40	choose	choose	VERB
fbem-10523	127	41	flexible	flexible	ADJ
fbem-10523	127	42	payment	payment	NOUN
fbem-10523	127	43	methods	method	NOUN
fbem-10523	127	44	,	,	PUNCT
fbem-10523	127	45	strengthen	strengthen	VERB
fbem-10523	127	46	fund	fund	NOUN
fbem-10523	127	47	budget	budget	NOUN
fbem-10523	127	48	management	management	NOUN
fbem-10523	127	49	,	,	PUNCT
fbem-10523	127	50	and	and	CCONJ
fbem-10523	127	51	avoid	avoid	VERB
fbem-10523	127	52	capital	capital	NOUN
fbem-10523	127	53	loss	loss	NOUN
fbem-10523	127	54	caused	cause	VERB
fbem-10523	127	55	by	by	ADP
fbem-10523	127	56	too	too	ADV
fbem-10523	127	57	high	high	ADJ
fbem-10523	127	58	or	or	CCONJ
fbem-10523	127	59	too	too	ADV
fbem-10523	127	60	low	low	ADJ
fbem-10523	127	61	funds	fund	NOUN
fbem-10523	127	62	.	.	PUNCT
fbem-10523	128	1	after	after	ADP
fbem-10523	128	2	the	the	DET
fbem-10523	128	3	completion	completion	NOUN
fbem-10523	128	4	of	of	ADP
fbem-10523	128	5	the	the	DET
fbem-10523	128	6	merger	merger	NOUN
fbem-10523	128	7	,	,	PUNCT
fbem-10523	128	8	in	in	ADP
fbem-10523	128	9	the	the	DET
fbem-10523	128	10	subsequent	subsequent	ADJ
fbem-10523	128	11	stage	stage	NOUN
fbem-10523	128	12	,	,	PUNCT
fbem-10523	128	13	a	a	DET
fbem-10523	128	14	scientific	scientific	ADJ
fbem-10523	128	15	and	and	CCONJ
fbem-10523	128	16	reasonable	reasonable	ADJ
fbem-10523	128	17	integration	integration	NOUN
fbem-10523	128	18	plan	plan	NOUN
fbem-10523	128	19	should	should	AUX
fbem-10523	128	20	be	be	AUX
fbem-10523	128	21	formulated	formulate	VERB
fbem-10523	128	22	to	to	PART
fbem-10523	128	23	optimize	optimize	VERB
fbem-10523	128	24	the	the	DET
fbem-10523	128	25	resource	resource	NOUN
fbem-10523	128	26	allocation	allocation	NOUN
fbem-10523	128	27	of	of	ADP
fbem-10523	128	28	both	both	DET
fbem-10523	128	29	parties	party	NOUN
fbem-10523	128	30	,	,	PUNCT
fbem-10523	128	31	and	and	CCONJ
fbem-10523	128	32	the	the	DET
fbem-10523	128	33	possible	possible	ADJ
fbem-10523	128	34	financial	financial	ADJ
fbem-10523	128	35	risks	risk	NOUN
fbem-10523	128	36	in	in	ADP
fbem-10523	128	37	the	the	DET
fbem-10523	128	38	merger	merger	NOUN
fbem-10523	128	39	should	should	AUX
fbem-10523	128	40	be	be	AUX
fbem-10523	128	41	controlled	control	VERB
fbem-10523	128	42	in	in	ADP
fbem-10523	128	43	all	all	DET
fbem-10523	128	44	aspects	aspect	NOUN
fbem-10523	128	45	including	include	VERB
fbem-10523	128	46	the	the	DET
fbem-10523	128	47	whole	whole	ADJ
fbem-10523	128	48	stage	stage	NOUN
fbem-10523	128	49	.	.	PUNCT
fbem-10523	129	1	acknowledgment	acknowledgment	NOUN
fbem-10523	129	2	fund	fund	NOUN
fbem-10523	129	3	project	project	NOUN
fbem-10523	129	4	supported	support	VERB
fbem-10523	129	5	by	by	ADP
fbem-10523	129	6	talent	talent	NOUN
fbem-10523	129	7	introduction	introduction	NOUN
fbem-10523	129	8	project	project	NOUN
fbem-10523	129	9	of	of	ADP
fbem-10523	129	10	sichuan	sichuan	PROPN
fbem-10523	129	11	light	light	PROPN
fbem-10523	129	12	chemical	chemical	PROPN
fbem-10523	129	13	university	university	PROPN
fbem-10523	129	14	(	(	PUNCT
fbem-10523	129	15	2017rcsk22	2017rcsk22	NUM
fbem-10523	129	16	)	)	PUNCT
fbem-10523	129	17	.	.	PUNCT
fbem-10523	130	1	references	reference	NOUN
fbem-10523	130	2	[	[	X
fbem-10523	130	3	1	1	NUM
fbem-10523	130	4	]	]	X
fbem-10523	130	5	zhang	zhang	PROPN
fbem-10523	130	6	xiaoqing	xiaoqing	PROPN
fbem-10523	130	7	,	,	PUNCT
fbem-10523	130	8	yang	yang	PROPN
fbem-10523	130	9	jing	jing	PROPN
fbem-10523	130	10	,	,	PUNCT
fbem-10523	130	11	duo	duo	NOUN
fbem-10523	130	12	yingxue	yingxue	PROPN
fbem-10523	130	13	.	.	PUNCT
fbem-10523	131	1	innovation	innovation	NOUN
fbem-10523	131	2	path	path	NOUN
fbem-10523	131	3	of	of	ADP
fbem-10523	131	4	new	new	ADJ
fbem-10523	131	5	retail	retail	ADJ
fbem-10523	131	6	formats	format	NOUN
fbem-10523	131	7	driven	drive	VERB
fbem-10523	131	8	by	by	ADP
fbem-10523	131	9	the	the	DET
fbem-10523	131	10	"	"	PUNCT
fbem-10523	131	11	wheel	wheel	NOUN
fbem-10523	131	12	of	of	ADP
fbem-10523	131	13	new	new	ADJ
fbem-10523	131	14	retail	retail	NOUN
fbem-10523	131	15	"	"	PUNCT
fbem-10523	132	1	[	[	X
fbem-10523	132	2	j	j	X
fbem-10523	132	3	]	]	X
fbem-10523	132	4	.	.	PUNCT
fbem-10523	133	1	business	business	NOUN
fbem-10523	133	2	economics	economic	NOUN
fbem-10523	133	3	research,2018(19):52	research,2018(19):52	PROPN
fbem-10523	133	4	-	-	PROPN
fbem-10523	133	5	55	55	NUM
fbem-10523	133	6	.	.	PUNCT
fbem-10523	134	1	[	[	X
fbem-10523	134	2	2	2	X
fbem-10523	134	3	]	]	X
fbem-10523	134	4	[	[	X
fbem-10523	134	5	fang	fang	X
fbem-10523	134	6	jing	jing	PROPN
fbem-10523	134	7	,	,	PUNCT
fbem-10523	134	8	huang	huang	PROPN
fbem-10523	134	9	xin	xin	PROPN
fbem-10523	134	10	.	.	PUNCT
fbem-10523	135	1	consumption	consumption	NOUN
fbem-10523	135	2	driver	driver	NOUN
fbem-10523	135	3	and	and	CCONJ
fbem-10523	135	4	evolution	evolution	NOUN
fbem-10523	135	5	path	path	NOUN
fbem-10523	135	6	of	of	ADP
fbem-10523	135	7	new	new	ADJ
fbem-10523	135	8	retail	retail	NOUN
fbem-10523	135	9	under	under	ADP
fbem-10523	135	10	omni	omni	ADJ
fbem-10523	135	11	-	-	PUNCT
fbem-10523	135	12	channel	channel	NOUN
fbem-10523	135	13	background	background	NOUN
fbem-10523	136	1	[	[	X
fbem-10523	136	2	j	j	X
fbem-10523	136	3	]	]	X
fbem-10523	136	4	.	.	PUNCT
fbem-10523	137	1	business	business	NOUN
fbem-10523	137	2	economics	economic	NOUN
fbem-10523	137	3	research,2019(12):12	research,2019(12):12	NOUN
fbem-10523	137	4	-	-	PUNCT
fbem-10523	137	5	15	15	NUM
fbem-10523	137	6	.	.	PUNCT
fbem-10523	137	7	]	]	PUNCT
fbem-10523	138	1	[	[	X
fbem-10523	138	2	3	3	X
fbem-10523	138	3	]	]	X
fbem-10523	138	4	zhao	zhao	X
fbem-10523	138	5	shumei	shumei	PROPN
fbem-10523	138	6	,	,	PUNCT
fbem-10523	138	7	xu	xu	PROPN
fbem-10523	138	8	xiaohong	xiaohong	PROPN
fbem-10523	138	9	.	.	PUNCT
fbem-10523	139	1	the	the	DET
fbem-10523	139	2	meaning	meaning	NOUN
fbem-10523	139	3	,	,	PUNCT
fbem-10523	139	4	model	model	NOUN
fbem-10523	139	5	and	and	CCONJ
fbem-10523	139	6	development	development	NOUN
fbem-10523	139	7	path	path	NOUN
fbem-10523	139	8	of	of	ADP
fbem-10523	139	9	"	"	PUNCT
fbem-10523	139	10	new	new	ADJ
fbem-10523	139	11	retail	retail	NOUN
fbem-10523	139	12	"	"	PUNCT
fbem-10523	140	1	[	[	X
fbem-10523	140	2	j	j	X
fbem-10523	140	3	]	]	X
fbem-10523	140	4	.	.	PUNCT
fbem-10523	141	1	china	china	PROPN
fbem-10523	141	2	circulation	circulation	PROPN
fbem-10523	141	3	economy,2017,31(05):12	economy,2017,31(05):12	NOUN
fbem-10523	141	4	-	-	SYM
fbem-10523	141	5	20	20	NUM
fbem-10523	141	6	.	.	PUNCT
fbem-10523	142	1	[	[	X
fbem-10523	142	2	4	4	X
fbem-10523	142	3	]	]	X
fbem-10523	142	4	wang	wang	PROPN
fbem-10523	142	5	baoyi	baoyi	PROPN
fbem-10523	142	6	.	.	PUNCT
fbem-10523	143	1	the	the	DET
fbem-10523	143	2	essence	essence	NOUN
fbem-10523	143	3	,	,	PUNCT
fbem-10523	143	4	causes	cause	NOUN
fbem-10523	143	5	and	and	CCONJ
fbem-10523	143	6	practice	practice	NOUN
fbem-10523	143	7	trend	trend	NOUN
fbem-10523	143	8	of	of	ADP
fbem-10523	143	9	"	"	PUNCT
fbem-10523	143	10	new	new	ADJ
fbem-10523	143	11	retail	retail	NOUN
fbem-10523	143	12	"	"	PUNCT
fbem-10523	144	1	[	[	X
fbem-10523	144	2	j	j	X
fbem-10523	144	3	]	]	X
fbem-10523	144	4	.	.	PUNCT
fbem-10523	145	1	china	china	PROPN
fbem-10523	145	2	circulation	circulation	PROPN
fbem-10523	145	3	economy,2017,31(07):3	economy,2017,31(07):3	PROPN
fbem-10523	145	4	-	-	PUNCT
fbem-10523	145	5	11	11	NUM
fbem-10523	145	6	.	.	PUNCT
fbem-10523	146	1	[	[	X
fbem-10523	146	2	5	5	X
fbem-10523	146	3	]	]	PUNCT
fbem-10523	146	4	wang	wang	PROPN
fbem-10523	146	5	ruiyu	ruiyu	PROPN
fbem-10523	146	6	.	.	PUNCT
fbem-10523	147	1	research	research	NOUN
fbem-10523	147	2	on	on	ADP
fbem-10523	147	3	industry	industry	NOUN
fbem-10523	147	4	evolution	evolution	NOUN
fbem-10523	147	5	,	,	PUNCT
fbem-10523	147	6	m&a	m&a	PROPN
fbem-10523	147	7	motivation	motivation	NOUN
fbem-10523	147	8	and	and	CCONJ
fbem-10523	147	9	m&a	m&a	PROPN
fbem-10523	147	10	performance	performance	NOUN
fbem-10523	147	11	evaluation	evaluation	NOUN
fbem-10523	147	12	of	of	ADP
fbem-10523	147	13	china	china	PROPN
fbem-10523	147	14	's	's	PART
fbem-10523	147	15	home	home	NOUN
fbem-10523	147	16	appliance	appliance	NOUN
fbem-10523	147	17	industry	industry	NOUN
fbem-10523	148	1	[	[	X
fbem-10523	148	2	d	d	X
fbem-10523	148	3	]	]	X
fbem-10523	148	4	.	.	PUNCT
fbem-10523	149	1	east	east	PROPN
fbem-10523	149	2	china	china	PROPN
fbem-10523	149	3	university	university	PROPN
fbem-10523	149	4	of	of	ADP
fbem-10523	149	5	science	science	NOUN
fbem-10523	149	6	and	and	CCONJ
fbem-10523	149	7	technology,2018	technology,2018	ADP
fbem-10523	149	8	.	.	PUNCT
fbem-10523	150	1	[	[	X
fbem-10523	150	2	6	6	NUM
fbem-10523	150	3	]	]	PUNCT
fbem-10523	150	4	mark	mark	PROPN
fbem-10523	150	5	l.	l.	PROPN
fbem-10523	150	6	mitchell	mitchell	PROPN
fbem-10523	150	7	and	and	CCONJ
fbem-10523	150	8	j.	j.	PROPN
fbem-10523	150	9	harold	harold	PROPN
fbem-10523	150	10	mulherin	mulherin	PROPN
fbem-10523	150	11	.	.	PUNCT
fbem-10523	151	1	the	the	DET
fbem-10523	151	2	impact	impact	NOUN
fbem-10523	151	3	of	of	ADP
fbem-10523	151	4	industry	industry	NOUN
fbem-10523	151	5	shocks	shock	NOUN
fbem-10523	151	6	on	on	ADP
fbem-10523	151	7	takeover	takeover	NOUN
fbem-10523	151	8	and	and	CCONJ
fbem-10523	151	9	restructuring.activity	restructuring.activity	NOUN
fbem-10523	152	1	[	[	X
fbem-10523	152	2	j	j	X
fbem-10523	152	3	]	]	X
fbem-10523	152	4	.	.	PUNCT
fbem-10523	153	1	journal	journal	PROPN
fbem-10523	153	2	of	of	ADP
fbem-10523	153	3	financial	financial	ADJ
fbem-10523	153	4	economics	economic	NOUN
fbem-10523	153	5	,	,	PUNCT
fbem-10523	153	6	1996	1996	NUM
fbem-10523	153	7	,	,	PUNCT
fbem-10523	153	8	41(2	41(2	NUM
fbem-10523	153	9	):	):	PUNCT
fbem-10523	153	10	193	193	NUM
fbem-10523	153	11	-	-	SYM
fbem-10523	153	12	229	229	NUM
fbem-10523	153	13	.	.	PUNCT
fbem-10523	153	14	59	59	NUM
fbem-10523	154	1	[	[	X
fbem-10523	154	2	7	7	NUM
fbem-10523	154	3	]	]	X
fbem-10523	154	4	liu	liu	PROPN
fbem-10523	154	5	yunguo	yunguo	PROPN
fbem-10523	154	6	,	,	PUNCT
fbem-10523	154	7	li	li	PROPN
fbem-10523	154	8	siqi	siqi	PROPN
fbem-10523	154	9	,	,	PUNCT
fbem-10523	154	10	liu	liu	PROPN
fbem-10523	154	11	yang	yang	PROPN
fbem-10523	154	12	.	.	PUNCT
fbem-10523	155	1	research	research	NOUN
fbem-10523	155	2	on	on	ADP
fbem-10523	155	3	the	the	DET
fbem-10523	155	4	motivation	motivation	NOUN
fbem-10523	155	5	and	and	CCONJ
fbem-10523	155	6	effect	effect	NOUN
fbem-10523	155	7	of	of	ADP
fbem-10523	155	8	overseas	overseas	ADJ
fbem-10523	155	9	mergers	merger	NOUN
fbem-10523	155	10	and	and	CCONJ
fbem-10523	155	11	acquisitions	acquisition	NOUN
fbem-10523	155	12	of	of	ADP
fbem-10523	155	13	chinese	chinese	ADJ
fbem-10523	155	14	hotels	hotel	NOUN
fbem-10523	155	15	-a	-a	X
fbem-10523	155	16	case	case	NOUN
fbem-10523	155	17	study	study	NOUN
fbem-10523	155	18	of	of	ADP
fbem-10523	155	19	jinjiang	jinjiang	PROPN
fbem-10523	155	20	stock	stock	PROPN
fbem-10523	155	21	's	's	PART
fbem-10523	155	22	merger	merger	NOUN
fbem-10523	155	23	and	and	CCONJ
fbem-10523	155	24	acquisition	acquisition	NOUN
fbem-10523	155	25	of	of	ADP
fbem-10523	155	26	lufu	lufu	PROPN
fbem-10523	155	27	hotel	hotel	PROPN
fbem-10523	156	1	[	[	X
fbem-10523	156	2	j	j	X
fbem-10523	156	3	]	]	X
fbem-10523	156	4	.	.	PUNCT
fbem-10523	157	1	journal	journal	PROPN
fbem-10523	157	2	of	of	ADP
fbem-10523	157	3	finance	finance	NOUN
fbem-10523	157	4	and	and	CCONJ
fbem-10523	157	5	accounting,2018(34):39	accounting,2018(34):39	PROPN
fbem-10523	157	6	+	+	PROPN
fbem-10523	157	7	129	129	NUM
fbem-10523	157	8	.	.	PUNCT
fbem-10523	158	1	[	[	X
fbem-10523	158	2	8	8	NUM
fbem-10523	158	3	]	]	PUNCT
fbem-10523	158	4	xie	xie	PROPN
fbem-10523	158	5	ww	ww	PROPN
fbem-10523	158	6	,	,	PUNCT
fbem-10523	158	7	ye	ye	PROPN
fbem-10523	158	8	cy	cy	PROPN
fbem-10523	158	9	,	,	PUNCT
fbem-10523	158	10	wang	wang	PROPN
fbem-10523	158	11	t.	t.	PROPN
fbem-10523	158	12	m&a	m&a	PROPN
fbem-10523	158	13	goodwill	goodwill	NOUN
fbem-10523	158	14	,	,	PUNCT
fbem-10523	158	15	information	information	NOUN
fbem-10523	158	16	asymmetry	asymmetry	NOUN
fbem-10523	158	17	and	and	CCONJ
fbem-10523	158	18	stock	stock	NOUN
fbem-10523	158	19	price	price	NOUN
fbem-10523	158	20	crashrisk[j	crashrisk[j	ADV
fbem-10523	158	21	]	]	PUNCT
fbem-10523	158	22	.	.	PUNCT
fbem-10523	159	1	multinational	multinational	ADJ
fbem-10523	159	2	business	business	PROPN
fbem-10523	159	3	review	review	PROPN
fbem-10523	159	4	,	,	PUNCT
fbem-10523	159	5	2020	2020	NUM
fbem-10523	159	6	,	,	PUNCT
fbem-10523	159	7	33(01	33(01	NUM
fbem-10523	159	8	):	):	PUNCT
fbem-10523	159	9	3385	3385	NUM
fbem-10523	159	10	-	-	SYM
fbem-10523	159	11	3405	3405	NUM
fbem-10523	159	12	.	.	PUNCT
fbem-10523	160	1	[	[	X
fbem-10523	160	2	9	9	NUM
fbem-10523	160	3	]	]	X
fbem-10523	160	4	zhu	zhu	PROPN
fbem-10523	160	5	siqi	siqi	PROPN
fbem-10523	160	6	.	.	PUNCT
fbem-10523	161	1	identification	identification	NOUN
fbem-10523	161	2	and	and	CCONJ
fbem-10523	161	3	evaluation	evaluation	NOUN
fbem-10523	161	4	of	of	ADP
fbem-10523	161	5	financial	financial	ADJ
fbem-10523	161	6	risk	risk	NOUN
fbem-10523	161	7	in	in	ADP
fbem-10523	161	8	transnational	transnational	ADJ
fbem-10523	161	9	mergers	merger	NOUN
fbem-10523	161	10	and	and	CCONJ
fbem-10523	161	11	acquisitions	acquisition	NOUN
fbem-10523	162	1	[	[	X
fbem-10523	162	2	j	j	X
fbem-10523	162	3	]	]	X
fbem-10523	162	4	.	.	PUNCT
fbem-10523	163	1	finance	finance	NOUN
fbem-10523	163	2	and	and	CCONJ
fbem-10523	163	3	accounting	accounting	NOUN
fbem-10523	163	4	learning	learning	NOUN
fbem-10523	163	5	,	,	PUNCT
fbem-10523	163	6	2021(12	2021(12	NUM
fbem-10523	163	7	)	)	PUNCT
fbem-10523	163	8	:	:	PUNCT
fbem-10523	163	9	49	49	NUM
fbem-10523	163	10	-	-	SYM
fbem-10523	163	11	50	50	NUM
fbem-10523	163	12	.	.	PUNCT
fbem-10523	164	1	[	[	X
fbem-10523	164	2	10	10	NUM
fbem-10523	164	3	]	]	X
fbem-10523	164	4	li	li	PROPN
fbem-10523	164	5	bingxin	bingxin	PROPN
fbem-10523	164	6	,	,	PUNCT
fbem-10523	164	7	chen	chen	PROPN
fbem-10523	164	8	zhangying	zhangying	PROPN
fbem-10523	164	9	,	,	PUNCT
fbem-10523	164	10	ye	ye	PROPN
fbem-10523	164	11	baijia	baijia	NOUN
fbem-10523	164	12	.	.	PUNCT
fbem-10523	165	1	research	research	NOUN
fbem-10523	165	2	on	on	ADP
fbem-10523	165	3	the	the	DET
fbem-10523	165	4	risk	risk	NOUN
fbem-10523	165	5	of	of	ADP
fbem-10523	165	6	continuous	continuous	ADJ
fbem-10523	165	7	cross	cross	ADJ
fbem-10523	165	8	-	-	ADJ
fbem-10523	165	9	border	border	ADJ
fbem-10523	165	10	m&a	m&a	PROPN
fbem-10523	166	1	[	[	X
fbem-10523	166	2	j	j	X
fbem-10523	166	3	]	]	X
fbem-10523	166	4	.	.	PUNCT
fbem-10523	167	1	enterprise	enterprise	NOUN
fbem-10523	167	2	reform	reform	NOUN
fbem-10523	167	3	and	and	CCONJ
fbem-10523	167	4	management	management	NOUN
fbem-10523	167	5	,	,	PUNCT
fbem-10523	167	6	2021(02	2021(02	NUM
fbem-10523	167	7	)	)	PUNCT
fbem-10523	167	8	:	:	PUNCT
fbem-10523	168	1	3	3	NUM
fbem-10523	168	2	-	-	SYM
fbem-10523	168	3	4	4	NUM
fbem-10523	168	4	.	.	PUNCT
fbem-10523	169	1	[	[	X
fbem-10523	169	2	11	11	NUM
fbem-10523	169	3	]	]	X
fbem-10523	169	4	zhang	zhang	PROPN
fbem-10523	169	5	jingbei	jingbei	PROPN
fbem-10523	169	6	,	,	PUNCT
fbem-10523	169	7	yang	yang	PROPN
fbem-10523	169	8	feng	feng	PROPN
fbem-10523	169	9	.	.	PUNCT
fbem-10523	170	1	study	study	NOUN
fbem-10523	170	2	on	on	ADP
fbem-10523	170	3	the	the	DET
fbem-10523	170	4	risk	risk	NOUN
fbem-10523	170	5	of	of	ADP
fbem-10523	170	6	cross	cross	ADJ
fbem-10523	170	7	-	-	ADJ
fbem-10523	170	8	border	border	ADJ
fbem-10523	170	9	mergers	merger	NOUN
fbem-10523	170	10	and	and	CCONJ
fbem-10523	170	11	acquisitions	acquisition	NOUN
fbem-10523	170	12	of	of	ADP
fbem-10523	170	13	chinese	chinese	ADJ
fbem-10523	170	14	private	private	ADJ
fbem-10523	170	15	enterprises	enterprise	NOUN
fbem-10523	170	16	and	and	CCONJ
fbem-10523	170	17	its	its	PRON
fbem-10523	170	18	countermeasures	countermeasure	NOUN
fbem-10523	171	1	[	[	X
fbem-10523	171	2	j	j	X
fbem-10523	171	3	]	]	X
fbem-10523	171	4	.	.	PUNCT
fbem-10523	172	1	china	china	PROPN
fbem-10523	172	2	management	management	PROPN
fbem-10523	172	3	information	information	PROPN
fbem-10523	172	4	technology	technology	NOUN
fbem-10523	172	5	,	,	PUNCT
fbem-10523	172	6	21	21	NUM
fbem-10523	172	7	,	,	PUNCT
fbem-10523	172	8	24(19	24(19	NUM
fbem-10523	172	9	)	)	PUNCT
fbem-10523	172	10	:	:	PUNCT
fbem-10523	172	11	104	104	NUM
fbem-10523	172	12	-	-	SYM
fbem-10523	172	13	105	105	NUM
fbem-10523	172	14	.	.	PUNCT
fbem-10523	173	1	[	[	X
fbem-10523	173	2	12	12	NUM
fbem-10523	173	3	]	]	X
fbem-10523	173	4	han	han	PROPN
fbem-10523	173	5	zhiqing	zhiqing	PROPN
fbem-10523	173	6	,	,	PUNCT
fbem-10523	173	7	wang	wang	PROPN
fbem-10523	173	8	hui	hui	PROPN
fbem-10523	173	9	.	.	PUNCT
fbem-10523	174	1	analysis	analysis	NOUN
fbem-10523	174	2	on	on	ADP
fbem-10523	174	3	the	the	DET
fbem-10523	174	4	logic	logic	NOUN
fbem-10523	174	5	and	and	CCONJ
fbem-10523	174	6	path	path	NOUN
fbem-10523	174	7	of	of	ADP
fbem-10523	174	8	related	related	ADJ
fbem-10523	174	9	merger	merger	NOUN
fbem-10523	174	10	and	and	CCONJ
fbem-10523	174	11	acquisition	acquisition	NOUN
fbem-10523	174	12	affecting	affect	VERB
fbem-10523	174	13	financial	financial	ADJ
fbem-10523	174	14	risk	risk	NOUN
fbem-10523	175	1	[	[	X
fbem-10523	175	2	j	j	X
fbem-10523	175	3	]	]	X
fbem-10523	175	4	.	.	PUNCT
fbem-10523	176	1	finance	finance	NOUN
fbem-10523	176	2	and	and	CCONJ
fbem-10523	176	3	accounting	account	VERB
fbem-10523	176	4	monthly	monthly	ADV
fbem-10523	176	5	,	,	PUNCT
fbem-10523	176	6	2021(05	2021(05	NUM
fbem-10523	176	7	)	)	PUNCT
fbem-10523	176	8	:	:	PUNCT
fbem-10523	176	9	27	27	NUM
fbem-10523	176	10	-	-	SYM
fbem-10523	176	11	31	31	NUM
fbem-10523	176	12	.	.	PUNCT
fbem-10523	177	1	[	[	X
fbem-10523	177	2	13	13	NUM
fbem-10523	177	3	]	]	SYM
fbem-10523	177	4	hu	hu	PROPN
fbem-10523	177	5	guifen	guifen	PROPN
fbem-10523	177	6	.	.	PUNCT
fbem-10523	178	1	analysis	analysis	NOUN
fbem-10523	178	2	of	of	ADP
fbem-10523	178	3	enterprise	enterprise	NOUN
fbem-10523	178	4	merger	merger	NOUN
fbem-10523	178	5	and	and	CCONJ
fbem-10523	178	6	acquisition	acquisition	NOUN
fbem-10523	178	7	integration	integration	NOUN
fbem-10523	178	8	risk	risk	NOUN
fbem-10523	178	9	and	and	CCONJ
fbem-10523	178	10	countermeasures	countermeasure	VERB
fbem-10523	178	11	-taking	-take	VERB
fbem-10523	178	12	enterprise	enterprise	NOUN
fbem-10523	178	13	b	b	NOUN
fbem-10523	178	14	as	as	ADP
fbem-10523	178	15	an	an	DET
fbem-10523	178	16	example	example	NOUN
fbem-10523	179	1	[	[	X
fbem-10523	179	2	j	j	X
fbem-10523	179	3	]	]	X
fbem-10523	179	4	.	.	PUNCT
fbem-10523	180	1	business	business	NOUN
fbem-10523	180	2	news	news	PROPN
fbem-10523	180	3	,	,	PUNCT
fbem-10523	180	4	2020(31	2020(31	NUM
fbem-10523	180	5	)	)	PUNCT
fbem-10523	180	6	:	:	PUNCT
fbem-10523	181	1	5	5	NUM
fbem-10523	181	2	-	-	SYM
fbem-10523	181	3	6	6	NUM
fbem-10523	181	4	.	.	PUNCT
fbem-10523	182	1	[	[	X
fbem-10523	182	2	14	14	NUM
fbem-10523	182	3	]	]	SYM
fbem-10523	182	4	li	li	PROPN
fbem-10523	182	5	mengqi	mengqi	PROPN
fbem-10523	182	6	.	.	PUNCT
fbem-10523	183	1	influencing	influence	VERB
fbem-10523	183	2	factors	factor	NOUN
fbem-10523	183	3	of	of	ADP
fbem-10523	183	4	chinese	chinese	ADJ
fbem-10523	183	5	enterprises	enterprise	NOUN
fbem-10523	183	6	'	'	PART
fbem-10523	183	7	overseas	overseas	ADJ
fbem-10523	183	8	m&a	m&a	PROPN
fbem-10523	184	1	[	[	X
fbem-10523	184	2	j	j	X
fbem-10523	184	3	]	]	X
fbem-10523	184	4	.	.	PUNCT
fbem-10523	185	1	journal	journal	PROPN
fbem-10523	185	2	of	of	ADP
fbem-10523	185	3	shanxi	shanxi	PROPN
fbem-10523	185	4	university	university	PROPN
fbem-10523	185	5	of	of	ADP
fbem-10523	185	6	finance	finance	NOUN
fbem-10523	185	7	and	and	CCONJ
fbem-10523	185	8	economics	economic	NOUN
fbem-10523	185	9	,	,	PUNCT
fbem-10523	185	10	2021(s1	2021(s1	NUM
fbem-10523	185	11	)	)	PUNCT
fbem-10523	185	12	:	:	PUNCT
fbem-10523	185	13	21	21	NUM
fbem-10523	185	14	-	-	SYM
fbem-10523	185	15	27	27	NUM
fbem-10523	185	16	.	.	PUNCT