id	sid	tid	token	lemma	pos
fbem-10897	1	1	frontiers	frontier	NOUN
fbem-10897	1	2	in	in	ADP
fbem-10897	1	3	business	business	NOUN
fbem-10897	1	4	,	,	PUNCT
fbem-10897	1	5	economics	economic	NOUN
fbem-10897	1	6	and	and	CCONJ
fbem-10897	1	7	management	management	NOUN
fbem-10897	1	8	issn	issn	PROPN
fbem-10897	1	9	:	:	PUNCT
fbem-10897	1	10	2766	2766	NUM
fbem-10897	1	11	-	-	PUNCT
fbem-10897	1	12	824x	824x	NUM
fbem-10897	1	13	|	|	ADJ
fbem-10897	1	14	vol	vol	NOUN
fbem-10897	1	15	.	.	PROPN
fbem-10897	2	1	10	10	NUM
fbem-10897	2	2	,	,	PUNCT
fbem-10897	2	3	no	no	INTJ
fbem-10897	2	4	.	.	NOUN
fbem-10897	2	5	2	2	NUM
fbem-10897	2	6	,	,	PUNCT
fbem-10897	2	7	2023	2023	NUM
fbem-10897	2	8	148	148	NUM
fbem-10897	2	9	research	research	NOUN
fbem-10897	2	10	on	on	ADP
fbem-10897	2	11	the	the	DET
fbem-10897	2	12	impact	impact	NOUN
fbem-10897	2	13	of	of	ADP
fbem-10897	2	14	proya	proya	PROPN
fbem-10897	2	15	esg	esg	PROPN
fbem-10897	2	16	upgrades	upgrade	NOUN
fbem-10897	2	17	on	on	ADP
fbem-10897	2	18	corporate	corporate	ADJ
fbem-10897	2	19	value	value	NOUN
fbem-10897	2	20	linzhi	linzhi	PROPN
fbem-10897	2	21	yang	yang	PROPN
fbem-10897	2	22	*	*	PROPN
fbem-10897	2	23	,	,	PUNCT
fbem-10897	2	24	yijun	yijun	PROPN
fbem-10897	2	25	chen	chen	PROPN
fbem-10897	2	26	sichuan	sichuan	PROPN
fbem-10897	2	27	university	university	PROPN
fbem-10897	2	28	of	of	ADP
fbem-10897	2	29	science	science	PROPN
fbem-10897	2	30	&	&	CCONJ
fbem-10897	2	31	engineering	engineering	PROPN
fbem-10897	2	32	,	,	PUNCT
fbem-10897	2	33	school	school	NOUN
fbem-10897	2	34	of	of	ADP
fbem-10897	2	35	management	management	NOUN
fbem-10897	2	36	,	,	PUNCT
fbem-10897	2	37	yibin	yibin	PROPN
fbem-10897	2	38	644000	644000	NUM
fbem-10897	2	39	,	,	PUNCT
fbem-10897	2	40	sichuan	sichuan	PROPN
fbem-10897	2	41	,	,	PUNCT
fbem-10897	2	42	china	china	PROPN
fbem-10897	2	43	*	*	PUNCT
fbem-10897	2	44	corresponding	correspond	VERB
fbem-10897	2	45	author	author	NOUN
fbem-10897	2	46	abstract	abstract	NOUN
fbem-10897	2	47	:	:	PUNCT
fbem-10897	2	48	in	in	ADP
fbem-10897	2	49	recent	recent	ADJ
fbem-10897	2	50	years	year	NOUN
fbem-10897	2	51	,	,	PUNCT
fbem-10897	2	52	with	with	ADP
fbem-10897	2	53	the	the	DET
fbem-10897	2	54	sustainable	sustainable	ADJ
fbem-10897	2	55	development	development	NOUN
fbem-10897	2	56	,	,	PUNCT
fbem-10897	2	57	carbon	carbon	NOUN
fbem-10897	2	58	peak	peak	NOUN
fbem-10897	2	59	,	,	PUNCT
fbem-10897	2	60	carbon	carbon	NOUN
fbem-10897	2	61	neutral	neutral	ADJ
fbem-10897	2	62	target	target	NOUN
fbem-10897	2	63	,	,	PUNCT
fbem-10897	2	64	investors	investor	NOUN
fbem-10897	2	65	for	for	ADP
fbem-10897	2	66	the	the	DET
fbem-10897	2	67	attention	attention	NOUN
fbem-10897	2	68	of	of	ADP
fbem-10897	2	69	listed	list	VERB
fbem-10897	2	70	companies	company	NOUN
fbem-10897	2	71	is	be	AUX
fbem-10897	2	72	not	not	PART
fbem-10897	2	73	limited	limit	VERB
fbem-10897	2	74	to	to	ADP
fbem-10897	2	75	financial	financial	ADJ
fbem-10897	2	76	indicators	indicator	NOUN
fbem-10897	2	77	,	,	PUNCT
fbem-10897	2	78	corporate	corporate	ADJ
fbem-10897	2	79	environmental	environmental	ADJ
fbem-10897	2	80	responsibility	responsibility	NOUN
fbem-10897	2	81	,	,	PUNCT
fbem-10897	2	82	social	social	ADJ
fbem-10897	2	83	responsibility	responsibility	NOUN
fbem-10897	2	84	and	and	CCONJ
fbem-10897	2	85	corporate	corporate	ADJ
fbem-10897	2	86	governance	governance	NOUN
fbem-10897	2	87	and	and	CCONJ
fbem-10897	2	88	development	development	NOUN
fbem-10897	2	89	prospects	prospect	NOUN
fbem-10897	2	90	more	more	ADJ
fbem-10897	2	91	attention	attention	NOUN
fbem-10897	2	92	by	by	ADP
fbem-10897	2	93	investors	investor	NOUN
fbem-10897	2	94	,	,	PUNCT
fbem-10897	2	95	esg	esg	PROPN
fbem-10897	2	96	has	have	AUX
fbem-10897	2	97	gradually	gradually	ADV
fbem-10897	2	98	become	become	VERB
fbem-10897	2	99	one	one	NUM
fbem-10897	2	100	of	of	ADP
fbem-10897	2	101	the	the	DET
fbem-10897	2	102	important	important	ADJ
fbem-10897	2	103	factors	factor	NOUN
fbem-10897	2	104	that	that	PRON
fbem-10897	2	105	can	can	AUX
fbem-10897	2	106	not	not	PART
fbem-10897	2	107	be	be	AUX
fbem-10897	2	108	ignored	ignore	VERB
fbem-10897	2	109	in	in	ADP
fbem-10897	2	110	enterprise	enterprise	NOUN
fbem-10897	2	111	development	development	NOUN
fbem-10897	2	112	.	.	PUNCT
fbem-10897	3	1	in	in	ADP
fbem-10897	3	2	this	this	DET
fbem-10897	3	3	paper	paper	NOUN
fbem-10897	3	4	,	,	PUNCT
fbem-10897	3	5	we	we	PRON
fbem-10897	3	6	explore	explore	VERB
fbem-10897	3	7	the	the	DET
fbem-10897	3	8	influence	influence	NOUN
fbem-10897	3	9	of	of	ADP
fbem-10897	3	10	the	the	DET
fbem-10897	3	11	esg	esg	PROPN
fbem-10897	3	12	rating	rating	NOUN
fbem-10897	3	13	upgrade	upgrade	NOUN
fbem-10897	3	14	on	on	ADP
fbem-10897	3	15	the	the	DET
fbem-10897	3	16	enterprise	enterprise	NOUN
fbem-10897	3	17	value	value	NOUN
fbem-10897	3	18	,	,	PUNCT
fbem-10897	3	19	as	as	ADP
fbem-10897	3	20	the	the	DET
fbem-10897	3	21	research	research	NOUN
fbem-10897	3	22	object	object	NOUN
fbem-10897	3	23	,	,	PUNCT
fbem-10897	3	24	adopt	adopt	VERB
fbem-10897	3	25	the	the	DET
fbem-10897	3	26	event	event	NOUN
fbem-10897	3	27	research	research	NOUN
fbem-10897	3	28	method	method	NOUN
fbem-10897	3	29	,	,	PUNCT
fbem-10897	3	30	analyze	analyze	VERB
fbem-10897	3	31	the	the	DET
fbem-10897	3	32	market	market	NOUN
fbem-10897	3	33	reaction	reaction	NOUN
fbem-10897	3	34	of	of	ADP
fbem-10897	3	35	the	the	DET
fbem-10897	3	36	event	event	NOUN
fbem-10897	3	37	,	,	PUNCT
fbem-10897	3	38	and	and	CCONJ
fbem-10897	3	39	then	then	ADV
fbem-10897	3	40	analyze	analyze	VERB
fbem-10897	3	41	the	the	DET
fbem-10897	3	42	influence	influence	NOUN
fbem-10897	3	43	of	of	ADP
fbem-10897	3	44	the	the	DET
fbem-10897	3	45	esg	esg	NOUN
fbem-10897	3	46	rating	rating	NOUN
fbem-10897	3	47	increase	increase	NOUN
fbem-10897	3	48	on	on	ADP
fbem-10897	3	49	the	the	DET
fbem-10897	3	50	enterprise	enterprise	NOUN
fbem-10897	3	51	value	value	NOUN
fbem-10897	3	52	by	by	ADP
fbem-10897	3	53	calculating	calculate	VERB
fbem-10897	3	54	the	the	DET
fbem-10897	3	55	value	value	NOUN
fbem-10897	3	56	of	of	ADP
fbem-10897	3	57	tobinq	tobinq	NOUN
fbem-10897	3	58	in	in	ADP
fbem-10897	3	59	the	the	DET
fbem-10897	3	60	past	past	ADJ
fbem-10897	3	61	five	five	NUM
fbem-10897	3	62	years	year	NOUN
fbem-10897	3	63	.	.	PUNCT
fbem-10897	4	1	the	the	DET
fbem-10897	4	2	research	research	NOUN
fbem-10897	4	3	results	result	NOUN
fbem-10897	4	4	show	show	VERB
fbem-10897	4	5	that	that	SCONJ
fbem-10897	4	6	the	the	DET
fbem-10897	4	7	short	short	ADJ
fbem-10897	4	8	-	-	PUNCT
fbem-10897	4	9	term	term	NOUN
fbem-10897	4	10	abnormal	abnormal	ADJ
fbem-10897	4	11	yield	yield	NOUN
fbem-10897	4	12	rate	rate	NOUN
fbem-10897	4	13	is	be	AUX
fbem-10897	4	14	positive	positive	ADJ
fbem-10897	4	15	,	,	PUNCT
fbem-10897	4	16	and	and	CCONJ
fbem-10897	4	17	it	it	PRON
fbem-10897	4	18	also	also	ADV
fbem-10897	4	19	has	have	VERB
fbem-10897	4	20	a	a	DET
fbem-10897	4	21	positive	positive	ADJ
fbem-10897	4	22	impact	impact	NOUN
fbem-10897	4	23	on	on	ADP
fbem-10897	4	24	its	its	PRON
fbem-10897	4	25	corporate	corporate	ADJ
fbem-10897	4	26	value	value	NOUN
fbem-10897	4	27	.	.	PUNCT
fbem-10897	5	1	keywords	keyword	NOUN
fbem-10897	5	2	:	:	PUNCT
fbem-10897	5	3	esg	esg	NOUN
fbem-10897	5	4	rating	rating	NOUN
fbem-10897	5	5	,	,	PUNCT
fbem-10897	5	6	enterprise	enterprise	NOUN
fbem-10897	5	7	value	value	NOUN
fbem-10897	5	8	,	,	PUNCT
fbem-10897	5	9	proya	proya	NOUN
fbem-10897	5	10	.	.	PUNCT
fbem-10897	6	1	1	1	X
fbem-10897	6	2	.	.	X
fbem-10897	6	3	research	research	NOUN
fbem-10897	6	4	background	background	NOUN
fbem-10897	6	5	the	the	DET
fbem-10897	6	6	party	party	NOUN
fbem-10897	6	7	's	's	PART
fbem-10897	6	8	20th	20th	ADJ
fbem-10897	6	9	congress	congress	PROPN
fbem-10897	6	10	clearly	clearly	ADV
fbem-10897	6	11	proposed	propose	VERB
fbem-10897	6	12	that	that	SCONJ
fbem-10897	6	13	highquality	highquality	NOUN
fbem-10897	6	14	development	development	NOUN
fbem-10897	6	15	is	be	AUX
fbem-10897	6	16	the	the	DET
fbem-10897	6	17	top	top	ADJ
fbem-10897	6	18	priority	priority	NOUN
fbem-10897	6	19	of	of	ADP
fbem-10897	6	20	building	build	VERB
fbem-10897	6	21	a	a	DET
fbem-10897	6	22	modern	modern	ADJ
fbem-10897	6	23	socialist	socialist	ADJ
fbem-10897	6	24	country	country	NOUN
fbem-10897	6	25	in	in	ADP
fbem-10897	6	26	an	an	DET
fbem-10897	6	27	all	all	ADV
fbem-10897	6	28	-	-	PUNCT
fbem-10897	6	29	round	round	NOUN
fbem-10897	6	30	way	way	NOUN
fbem-10897	6	31	,	,	PUNCT
fbem-10897	6	32	and	and	CCONJ
fbem-10897	6	33	to	to	PART
fbem-10897	6	34	ensure	ensure	VERB
fbem-10897	6	35	the	the	DET
fbem-10897	6	36	sustainable	sustainable	ADJ
fbem-10897	6	37	development	development	NOUN
fbem-10897	6	38	of	of	ADP
fbem-10897	6	39	social	social	ADJ
fbem-10897	6	40	economy	economy	NOUN
fbem-10897	6	41	with	with	ADP
fbem-10897	6	42	a	a	DET
fbem-10897	6	43	green	green	ADJ
fbem-10897	6	44	and	and	CCONJ
fbem-10897	6	45	low	low	ADJ
fbem-10897	6	46	-	-	PUNCT
fbem-10897	6	47	carbon	carbon	NOUN
fbem-10897	6	48	development	development	NOUN
fbem-10897	6	49	mode	mode	NOUN
fbem-10897	6	50	.	.	PUNCT
fbem-10897	7	1	with	with	ADP
fbem-10897	7	2	the	the	DET
fbem-10897	7	3	steady	steady	ADJ
fbem-10897	7	4	growth	growth	NOUN
fbem-10897	7	5	of	of	ADP
fbem-10897	7	6	the	the	DET
fbem-10897	7	7	economy	economy	NOUN
fbem-10897	7	8	and	and	CCONJ
fbem-10897	7	9	the	the	DET
fbem-10897	7	10	national	national	ADJ
fbem-10897	7	11	policy	policy	NOUN
fbem-10897	7	12	,	,	PUNCT
fbem-10897	7	13	the	the	DET
fbem-10897	7	14	market	market	NOUN
fbem-10897	7	15	of	of	ADP
fbem-10897	7	16	listed	list	VERB
fbem-10897	7	17	companies	company	NOUN
fbem-10897	7	18	in	in	ADP
fbem-10897	7	19	the	the	DET
fbem-10897	7	20	financial	financial	ADJ
fbem-10897	7	21	indicators	indicator	NOUN
fbem-10897	7	22	attention	attention	NOUN
fbem-10897	7	23	gradually	gradually	ADV
fbem-10897	7	24	increased	increase	VERB
fbem-10897	7	25	,	,	PUNCT
fbem-10897	7	26	in	in	ADP
fbem-10897	7	27	order	order	NOUN
fbem-10897	7	28	to	to	PART
fbem-10897	7	29	better	well	ADV
fbem-10897	7	30	measure	measure	VERB
fbem-10897	7	31	the	the	DET
fbem-10897	7	32	sustainable	sustainable	ADJ
fbem-10897	7	33	development	development	NOUN
fbem-10897	7	34	ability	ability	NOUN
fbem-10897	7	35	of	of	ADP
fbem-10897	7	36	enterprises	enterprise	NOUN
fbem-10897	7	37	,	,	PUNCT
fbem-10897	7	38	esg	esg	NOUN
fbem-10897	7	39	concept	concept	NOUN
fbem-10897	7	40	gradually	gradually	ADV
fbem-10897	7	41	into	into	ADP
fbem-10897	7	42	the	the	DET
fbem-10897	7	43	public	public	ADJ
fbem-10897	7	44	view	view	NOUN
fbem-10897	7	45	,	,	PUNCT
fbem-10897	7	46	the	the	DET
fbem-10897	7	47	so	so	ADV
fbem-10897	7	48	-	-	PUNCT
fbem-10897	7	49	called	call	VERB
fbem-10897	7	50	esg	esg	PROPN
fbem-10897	7	51	is	be	AUX
fbem-10897	7	52	refers	refer	VERB
fbem-10897	7	53	to	to	ADP
fbem-10897	7	54	the	the	DET
fbem-10897	7	55	enterprise	enterprise	NOUN
fbem-10897	7	56	in	in	ADP
fbem-10897	7	57	environmental	environmental	ADJ
fbem-10897	7	58	protection	protection	NOUN
fbem-10897	7	59	,	,	PUNCT
fbem-10897	7	60	social	social	ADJ
fbem-10897	7	61	responsibility	responsibility	NOUN
fbem-10897	7	62	and	and	CCONJ
fbem-10897	7	63	corporate	corporate	ADJ
fbem-10897	7	64	governance	governance	NOUN
fbem-10897	7	65	three	three	NUM
fbem-10897	7	66	aspects	aspect	NOUN
fbem-10897	7	67	of	of	ADP
fbem-10897	7	68	specific	specific	ADJ
fbem-10897	7	69	performance	performance	NOUN
fbem-10897	7	70	,	,	PUNCT
fbem-10897	7	71	and	and	CCONJ
fbem-10897	7	72	through	through	ADP
fbem-10897	7	73	the	the	DET
fbem-10897	7	74	practice	practice	NOUN
fbem-10897	7	75	of	of	ADP
fbem-10897	7	76	the	the	DET
fbem-10897	7	77	enterprise	enterprise	NOUN
fbem-10897	7	78	to	to	ADP
fbem-10897	7	79	esg	esg	PROPN
fbem-10897	7	80	performance	performance	NOUN
fbem-10897	7	81	.	.	PUNCT
fbem-10897	8	1	in	in	ADP
fbem-10897	8	2	2018	2018	NUM
fbem-10897	8	3	,	,	PUNCT
fbem-10897	8	4	msci	msci	PROPN
fbem-10897	8	5	,	,	PUNCT
fbem-10897	8	6	a	a	DET
fbem-10897	8	7	famous	famous	ADJ
fbem-10897	8	8	american	american	ADJ
fbem-10897	8	9	index	index	NOUN
fbem-10897	8	10	company	company	NOUN
fbem-10897	8	11	,	,	PUNCT
fbem-10897	8	12	included	include	VERB
fbem-10897	8	13	chinese	chinese	ADJ
fbem-10897	8	14	a	a	DET
fbem-10897	8	15	shares	share	NOUN
fbem-10897	8	16	in	in	ADP
fbem-10897	8	17	esg	esg	PROPN
fbem-10897	8	18	rating	rating	NOUN
fbem-10897	8	19	,	,	PUNCT
fbem-10897	8	20	which	which	PRON
fbem-10897	8	21	made	make	VERB
fbem-10897	8	22	the	the	DET
fbem-10897	8	23	concept	concept	NOUN
fbem-10897	8	24	of	of	ADP
fbem-10897	8	25	esg	esg	PROPN
fbem-10897	8	26	become	become	VERB
fbem-10897	8	27	a	a	DET
fbem-10897	8	28	hot	hot	ADJ
fbem-10897	8	29	topic	topic	NOUN
fbem-10897	8	30	in	in	ADP
fbem-10897	8	31	the	the	DET
fbem-10897	8	32	investment	investment	NOUN
fbem-10897	8	33	market	market	NOUN
fbem-10897	8	34	.	.	PUNCT
fbem-10897	9	1	both	both	DET
fbem-10897	9	2	investors	investor	NOUN
fbem-10897	9	3	and	and	CCONJ
fbem-10897	9	4	enterprises	enterprise	NOUN
fbem-10897	9	5	realize	realize	VERB
fbem-10897	9	6	that	that	SCONJ
fbem-10897	9	7	good	good	ADJ
fbem-10897	9	8	esg	esg	PROPN
fbem-10897	9	9	performance	performance	NOUN
fbem-10897	9	10	is	be	AUX
fbem-10897	9	11	crucial	crucial	ADJ
fbem-10897	9	12	to	to	ADP
fbem-10897	9	13	the	the	DET
fbem-10897	9	14	development	development	NOUN
fbem-10897	9	15	of	of	ADP
fbem-10897	9	16	enterprises	enterprise	NOUN
fbem-10897	9	17	.	.	PUNCT
fbem-10897	10	1	therefore	therefore	ADV
fbem-10897	10	2	,	,	PUNCT
fbem-10897	10	3	so	so	CCONJ
fbem-10897	10	4	the	the	DET
fbem-10897	10	5	impact	impact	NOUN
fbem-10897	10	6	of	of	ADP
fbem-10897	10	7	their	their	PRON
fbem-10897	10	8	performance	performance	NOUN
fbem-10897	10	9	in	in	ADP
fbem-10897	10	10	esg	esg	PROPN
fbem-10897	10	11	on	on	ADP
fbem-10897	10	12	their	their	PRON
fbem-10897	10	13	future	future	ADJ
fbem-10897	10	14	development	development	NOUN
fbem-10897	10	15	has	have	AUX
fbem-10897	10	16	become	become	VERB
fbem-10897	10	17	more	more	ADV
fbem-10897	10	18	and	and	CCONJ
fbem-10897	10	19	more	more	ADV
fbem-10897	10	20	obvious	obvious	ADJ
fbem-10897	10	21	.	.	PUNCT
fbem-10897	11	1	since	since	SCONJ
fbem-10897	11	2	2020	2020	NUM
fbem-10897	11	3	,	,	PUNCT
fbem-10897	11	4	msci	msci	PROPN
fbem-10897	11	5	has	have	AUX
fbem-10897	11	6	included	include	VERB
fbem-10897	11	7	proya	proya	PROPN
fbem-10897	11	8	cosmetics	cosmetics	PROPN
fbem-10897	11	9	co.	co.	PROPN
fbem-10897	11	10	,	,	PUNCT
fbem-10897	11	11	ltd	ltd	PROPN
fbem-10897	11	12	.	.	PROPN
fbem-10897	12	1	(	(	PUNCT
fbem-10897	12	2	hereinafter	hereinafter	NOUN
fbem-10897	12	3	referred	refer	VERB
fbem-10897	12	4	to	to	ADP
fbem-10897	12	5	as	as	ADP
fbem-10897	12	6	"	"	PUNCT
fbem-10897	12	7	proya	proya	NOUN
fbem-10897	12	8	"	"	PUNCT
fbem-10897	12	9	)	)	PUNCT
fbem-10897	12	10	in	in	ADP
fbem-10897	12	11	the	the	DET
fbem-10897	12	12	esg	esg	NOUN
fbem-10897	12	13	rating	rating	NOUN
fbem-10897	12	14	system	system	NOUN
fbem-10897	12	15	and	and	CCONJ
fbem-10897	12	16	given	give	VERB
fbem-10897	12	17	the	the	DET
fbem-10897	12	18	ccc	ccc	NOUN
fbem-10897	12	19	rating	rating	NOUN
fbem-10897	12	20	,	,	PUNCT
fbem-10897	12	21	the	the	DET
fbem-10897	12	22	lowest	low	ADJ
fbem-10897	12	23	rating	rating	NOUN
fbem-10897	12	24	in	in	ADP
fbem-10897	12	25	the	the	DET
fbem-10897	12	26	msci	msci	PROPN
fbem-10897	12	27	rating	rating	NOUN
fbem-10897	12	28	system	system	NOUN
fbem-10897	12	29	,	,	PUNCT
fbem-10897	12	30	which	which	PRON
fbem-10897	12	31	has	have	AUX
fbem-10897	12	32	lasted	last	VERB
fbem-10897	12	33	two	two	NUM
fbem-10897	12	34	years	year	NOUN
fbem-10897	12	35	.	.	PUNCT
fbem-10897	13	1	through	through	ADP
fbem-10897	13	2	the	the	DET
fbem-10897	13	3	continuous	continuous	ADJ
fbem-10897	13	4	efforts	effort	NOUN
fbem-10897	13	5	of	of	ADP
fbem-10897	13	6	pearl	pearl	NOUN
fbem-10897	13	7	,	,	PUNCT
fbem-10897	13	8	finally	finally	ADV
fbem-10897	13	9	on	on	ADP
fbem-10897	13	10	october	october	PROPN
fbem-10897	13	11	26,2022	26,2022	NOUN
fbem-10897	13	12	,	,	PUNCT
fbem-10897	13	13	pearl	pearl	NOUN
fbem-10897	13	14	won	win	VERB
fbem-10897	13	15	the	the	DET
fbem-10897	13	16	msci	msci	PROPN
fbem-10897	13	17	esg	esg	PROPN
fbem-10897	13	18	rating	rating	NOUN
fbem-10897	13	19	upgrade	upgrade	NOUN
fbem-10897	13	20	,	,	PUNCT
fbem-10897	13	21	the	the	DET
fbem-10897	13	22	rating	rating	NOUN
fbem-10897	13	23	adjustment	adjustment	NOUN
fbem-10897	13	24	will	will	AUX
fbem-10897	13	25	pearl	pearl	VERB
fbem-10897	13	26	esg	esg	PROPN
fbem-10897	13	27	rating	rating	NOUN
fbem-10897	13	28	upgraded	upgrade	VERB
fbem-10897	13	29	to	to	ADP
fbem-10897	13	30	bbb	bbb	PROPN
fbem-10897	13	31	,	,	PUNCT
fbem-10897	13	32	this	this	DET
fbem-10897	13	33	move	move	NOUN
fbem-10897	13	34	is	be	AUX
fbem-10897	13	35	msci	msci	PROPN
fbem-10897	13	36	of	of	ADP
fbem-10897	13	37	pearl	pearl	PROPN
fbem-10897	13	38	esg	esg	PROPN
fbem-10897	13	39	performance	performance	NOUN
fbem-10897	13	40	improve	improve	VERB
fbem-10897	13	41	high	high	ADJ
fbem-10897	13	42	recognition	recognition	NOUN
fbem-10897	13	43	,	,	PUNCT
fbem-10897	13	44	also	also	ADV
fbem-10897	13	45	make	make	VERB
fbem-10897	13	46	pearl	pearl	NOUN
fbem-10897	13	47	into	into	ADP
fbem-10897	13	48	the	the	DET
fbem-10897	13	49	msci	msci	PROPN
fbem-10897	13	50	rating	rating	NOUN
fbem-10897	13	51	system	system	NOUN
fbem-10897	13	52	in	in	ADP
fbem-10897	13	53	the	the	DET
fbem-10897	13	54	only	only	ADJ
fbem-10897	13	55	a	a	DET
fbem-10897	13	56	consumer	consumer	NOUN
fbem-10897	13	57	rating	rating	NOUN
fbem-10897	13	58	a	a	DET
fbem-10897	13	59	jump	jump	NOUN
fbem-10897	13	60	three	three	NUM
fbem-10897	13	61	listed	list	VERB
fbem-10897	13	62	companies	company	NOUN
fbem-10897	13	63	.	.	PUNCT
fbem-10897	14	1	this	this	DET
fbem-10897	14	2	paper	paper	NOUN
fbem-10897	14	3	will	will	AUX
fbem-10897	14	4	conduct	conduct	VERB
fbem-10897	14	5	a	a	DET
fbem-10897	14	6	study	study	NOUN
fbem-10897	14	7	on	on	ADP
fbem-10897	14	8	the	the	DET
fbem-10897	14	9	msci	msci	PROPN
fbem-10897	14	10	upgrade	upgrade	NOUN
fbem-10897	14	11	event	event	NOUN
fbem-10897	14	12	,	,	PUNCT
fbem-10897	14	13	focusing	focus	VERB
fbem-10897	14	14	on	on	ADP
fbem-10897	14	15	the	the	DET
fbem-10897	14	16	impact	impact	NOUN
fbem-10897	14	17	of	of	ADP
fbem-10897	14	18	the	the	DET
fbem-10897	14	19	esg	esg	PROPN
fbem-10897	14	20	upgrade	upgrade	NOUN
fbem-10897	14	21	on	on	ADP
fbem-10897	14	22	proya	proya	PROPN
fbem-10897	14	23	's	's	PART
fbem-10897	14	24	share	share	NOUN
fbem-10897	14	25	price	price	NOUN
fbem-10897	14	26	and	and	CCONJ
fbem-10897	14	27	the	the	DET
fbem-10897	14	28	impact	impact	NOUN
fbem-10897	14	29	of	of	ADP
fbem-10897	14	30	the	the	DET
fbem-10897	14	31	upgrade	upgrade	NOUN
fbem-10897	14	32	on	on	ADP
fbem-10897	14	33	corporate	corporate	ADJ
fbem-10897	14	34	value	value	NOUN
fbem-10897	14	35	for	for	ADP
fbem-10897	14	36	the	the	DET
fbem-10897	14	37	year	year	NOUN
fbem-10897	14	38	.	.	PUNCT
fbem-10897	15	1	2	2	X
fbem-10897	15	2	.	.	X
fbem-10897	15	3	research	research	NOUN
fbem-10897	15	4	status	status	NOUN
fbem-10897	15	5	the	the	DET
fbem-10897	15	6	research	research	NOUN
fbem-10897	15	7	on	on	ADP
fbem-10897	15	8	esg	esg	PROPN
fbem-10897	15	9	at	at	ADP
fbem-10897	15	10	home	home	NOUN
fbem-10897	15	11	and	and	CCONJ
fbem-10897	15	12	abroad	abroad	ADV
fbem-10897	15	13	is	be	AUX
fbem-10897	15	14	not	not	PART
fbem-10897	15	15	synchronized	synchronize	VERB
fbem-10897	15	16	,	,	PUNCT
fbem-10897	15	17	while	while	SCONJ
fbem-10897	15	18	the	the	DET
fbem-10897	15	19	foreign	foreign	PROPN
fbem-10897	15	20	esg	esg	PROPN
fbem-10897	15	21	research	research	NOUN
fbem-10897	15	22	started	start	VERB
fbem-10897	15	23	earlier	early	ADV
fbem-10897	15	24	,	,	PUNCT
fbem-10897	15	25	the	the	DET
fbem-10897	15	26	research	research	NOUN
fbem-10897	15	27	topics	topic	NOUN
fbem-10897	15	28	are	be	AUX
fbem-10897	15	29	broader	broad	ADJ
fbem-10897	15	30	,	,	PUNCT
fbem-10897	15	31	and	and	CCONJ
fbem-10897	15	32	the	the	DET
fbem-10897	15	33	research	research	NOUN
fbem-10897	15	34	methods	method	NOUN
fbem-10897	15	35	are	be	AUX
fbem-10897	15	36	more	more	ADJ
fbem-10897	15	37	in	in	ADP
fbem-10897	15	38	-	-	PUNCT
fbem-10897	15	39	depth	depth	NOUN
fbem-10897	15	40	and	and	CCONJ
fbem-10897	15	41	diverse	diverse	ADJ
fbem-10897	15	42	.	.	PUNCT
fbem-10897	16	1	in	in	ADP
fbem-10897	16	2	china	china	PROPN
fbem-10897	16	3	,	,	PUNCT
fbem-10897	16	4	the	the	DET
fbem-10897	16	5	theoretical	theoretical	ADJ
fbem-10897	16	6	analysis	analysis	NOUN
fbem-10897	16	7	and	and	CCONJ
fbem-10897	16	8	empirical	empirical	ADJ
fbem-10897	16	9	research	research	NOUN
fbem-10897	16	10	of	of	ADP
fbem-10897	16	11	esg	esg	PROPN
fbem-10897	16	12	are	be	AUX
fbem-10897	16	13	slightly	slightly	ADV
fbem-10897	16	14	lagging	lag	VERB
fbem-10897	16	15	behind[1	behind[1	PROPN
fbem-10897	16	16	]	]	PUNCT
fbem-10897	16	17	.	.	PUNCT
fbem-10897	17	1	in	in	ADP
fbem-10897	17	2	recent	recent	ADJ
fbem-10897	17	3	years	year	NOUN
fbem-10897	17	4	,	,	PUNCT
fbem-10897	17	5	the	the	DET
fbem-10897	17	6	influence	influence	NOUN
fbem-10897	17	7	of	of	ADP
fbem-10897	17	8	esg	esg	NOUN
fbem-10897	17	9	rating	rating	NOUN
fbem-10897	17	10	performance	performance	NOUN
fbem-10897	17	11	on	on	ADP
fbem-10897	17	12	enterprise	enterprise	NOUN
fbem-10897	17	13	value	value	NOUN
fbem-10897	17	14	is	be	AUX
fbem-10897	17	15	gradually	gradually	ADV
fbem-10897	17	16	increased	increase	VERB
fbem-10897	17	17	,	,	PUNCT
fbem-10897	17	18	and	and	CCONJ
fbem-10897	17	19	most	most	ADJ
fbem-10897	17	20	of	of	ADP
fbem-10897	17	21	the	the	DET
fbem-10897	17	22	research	research	NOUN
fbem-10897	17	23	results	result	NOUN
fbem-10897	17	24	show	show	VERB
fbem-10897	17	25	that	that	SCONJ
fbem-10897	17	26	esg	esg	NOUN
fbem-10897	17	27	rating	rating	NOUN
fbem-10897	17	28	performance	performance	NOUN
fbem-10897	17	29	has	have	VERB
fbem-10897	17	30	a	a	DET
fbem-10897	17	31	positive	positive	ADJ
fbem-10897	17	32	impact	impact	NOUN
fbem-10897	17	33	on	on	ADP
fbem-10897	17	34	enterprise	enterprise	NOUN
fbem-10897	17	35	value	value	NOUN
fbem-10897	17	36	.	.	PUNCT
fbem-10897	18	1	wang	wang	PROPN
fbem-10897	18	2	linlin	linlin	PROPN
fbem-10897	18	3	et	et	PROPN
fbem-10897	18	4	al	al	PROPN
fbem-10897	18	5	.	.	PROPN
fbem-10897	19	1	(	(	PUNCT
fbem-10897	19	2	2022	2022	NUM
fbem-10897	19	3	)	)	PUNCT
fbem-10897	19	4	used	use	VERB
fbem-10897	19	5	tobin	tobin	PROPN
fbem-10897	19	6	q	q	NOUN
fbem-10897	19	7	value	value	NOUN
fbem-10897	19	8	to	to	PART
fbem-10897	19	9	evaluate	evaluate	VERB
fbem-10897	19	10	enterprise	enterprise	NOUN
fbem-10897	19	11	value	value	NOUN
fbem-10897	19	12	in	in	ADP
fbem-10897	19	13	the	the	DET
fbem-10897	19	14	study	study	NOUN
fbem-10897	19	15	,	,	PUNCT
fbem-10897	19	16	and	and	CCONJ
fbem-10897	19	17	discussed	discuss	VERB
fbem-10897	19	18	the	the	DET
fbem-10897	19	19	influence	influence	NOUN
fbem-10897	19	20	mechanism	mechanism	NOUN
fbem-10897	19	21	of	of	ADP
fbem-10897	19	22	esg	esg	NOUN
fbem-10897	19	23	rating	rating	NOUN
fbem-10897	19	24	performance	performance	NOUN
fbem-10897	19	25	on	on	ADP
fbem-10897	19	26	enterprise	enterprise	NOUN
fbem-10897	19	27	value	value	NOUN
fbem-10897	19	28	based	base	VERB
fbem-10897	19	29	on	on	ADP
fbem-10897	19	30	the	the	DET
fbem-10897	19	31	data	datum	NOUN
fbem-10897	19	32	of	of	ADP
fbem-10897	19	33	a	a	DET
fbem-10897	19	34	-	-	PUNCT
fbem-10897	19	35	share	share	NOUN
fbem-10897	19	36	listed	list	VERB
fbem-10897	19	37	companies	company	NOUN
fbem-10897	19	38	.	.	PUNCT
fbem-10897	20	1	the	the	DET
fbem-10897	20	2	empirical	empirical	ADJ
fbem-10897	20	3	research	research	NOUN
fbem-10897	20	4	results	result	NOUN
fbem-10897	20	5	show	show	VERB
fbem-10897	20	6	that	that	SCONJ
fbem-10897	20	7	good	good	ADJ
fbem-10897	20	8	esg	esg	PROPN
fbem-10897	20	9	performance	performance	NOUN
fbem-10897	20	10	helps	help	VERB
fbem-10897	20	11	to	to	PART
fbem-10897	20	12	ease	ease	VERB
fbem-10897	20	13	the	the	DET
fbem-10897	20	14	financing	financing	NOUN
fbem-10897	20	15	constraints	constraint	NOUN
fbem-10897	20	16	of	of	ADP
fbem-10897	20	17	enterprises	enterprise	NOUN
fbem-10897	20	18	,	,	PUNCT
fbem-10897	20	19	improve	improve	VERB
fbem-10897	20	20	their	their	PRON
fbem-10897	20	21	operating	operating	NOUN
fbem-10897	20	22	efficiency	efficiency	NOUN
fbem-10897	20	23	and	and	CCONJ
fbem-10897	20	24	reduce	reduce	VERB
fbem-10897	20	25	financial	financial	ADJ
fbem-10897	20	26	risks	risk	NOUN
fbem-10897	20	27	,	,	PUNCT
fbem-10897	20	28	thus	thus	ADV
fbem-10897	20	29	increasing	increase	VERB
fbem-10897	20	30	the	the	DET
fbem-10897	20	31	value	value	NOUN
fbem-10897	20	32	of	of	ADP
fbem-10897	20	33	enterprises.[2	enterprises.[2	NOUN
fbem-10897	20	34	]	]	X
fbem-10897	20	35	.	.	PUNCT
fbem-10897	21	1	bai	bai	PROPN
fbem-10897	21	2	xiong	xiong	PROPN
fbem-10897	21	3	et	et	PROPN
fbem-10897	21	4	al	al	PROPN
fbem-10897	21	5	.	.	PROPN
fbem-10897	21	6	(	(	PUNCT
fbem-10897	21	7	2022	2022	NUM
fbem-10897	21	8	)	)	PUNCT
fbem-10897	21	9	showed	show	VERB
fbem-10897	21	10	the	the	DET
fbem-10897	21	11	enterprise	enterprise	NOUN
fbem-10897	21	12	value	value	NOUN
fbem-10897	21	13	with	with	ADP
fbem-10897	21	14	the	the	DET
fbem-10897	21	15	logarithm	logarithm	NOUN
fbem-10897	21	16	of	of	ADP
fbem-10897	21	17	the	the	DET
fbem-10897	21	18	panel	panel	NOUN
fbem-10897	21	19	regression	regression	NOUN
fbem-10897	21	20	model	model	NOUN
fbem-10897	21	21	and	and	CCONJ
fbem-10897	21	22	panel	panel	NOUN
fbem-10897	21	23	logit	logit	PROPN
fbem-10897	21	24	model	model	PROPN
fbem-10897	21	25	,	,	PUNCT
fbem-10897	21	26	the	the	DET
fbem-10897	21	27	study	study	NOUN
fbem-10897	21	28	found	find	VERB
fbem-10897	21	29	that	that	SCONJ
fbem-10897	21	30	the	the	DET
fbem-10897	21	31	shareholding	shareholding	NOUN
fbem-10897	21	32	intention	intention	NOUN
fbem-10897	21	33	of	of	ADP
fbem-10897	21	34	institutional	institutional	ADJ
fbem-10897	21	35	investors	investor	NOUN
fbem-10897	21	36	is	be	AUX
fbem-10897	21	37	affected	affect	VERB
fbem-10897	21	38	by	by	ADP
fbem-10897	21	39	the	the	DET
fbem-10897	21	40	performance	performance	NOUN
fbem-10897	21	41	of	of	ADP
fbem-10897	21	42	enterprise	enterprise	NOUN
fbem-10897	21	43	esg	esg	PROPN
fbem-10897	21	44	,	,	PUNCT
fbem-10897	21	45	the	the	PRON
fbem-10897	21	46	better	well	ADJ
fbem-10897	21	47	the	the	DET
fbem-10897	21	48	enterprise	enterprise	NOUN
fbem-10897	21	49	esg	esg	NOUN
fbem-10897	21	50	performance	performance	NOUN
fbem-10897	21	51	,	,	PUNCT
fbem-10897	21	52	the	the	DET
fbem-10897	21	53	more	more	ADV
fbem-10897	21	54	can	can	AUX
fbem-10897	21	55	win	win	VERB
fbem-10897	21	56	the	the	DET
fbem-10897	21	57	favor	favor	NOUN
fbem-10897	21	58	of	of	ADP
fbem-10897	21	59	institutional	institutional	ADJ
fbem-10897	21	60	investors	investor	NOUN
fbem-10897	21	61	,	,	PUNCT
fbem-10897	21	62	so	so	SCONJ
fbem-10897	21	63	that	that	SCONJ
fbem-10897	21	64	the	the	DET
fbem-10897	21	65	enterprise	enterprise	NOUN
fbem-10897	21	66	can	can	AUX
fbem-10897	21	67	obtain	obtain	VERB
fbem-10897	21	68	higher	high	ADJ
fbem-10897	21	69	enterprise	enterprise	NOUN
fbem-10897	21	70	value.[3	value.[3	PROPN
fbem-10897	21	71	]	]	PUNCT
fbem-10897	21	72	.	.	PUNCT
fbem-10897	22	1	qi	qi	PROPN
fbem-10897	22	2	paulei	paulei	PROPN
fbem-10897	22	3	et	et	PROPN
fbem-10897	22	4	al	al	PROPN
fbem-10897	22	5	.	.	PROPN
fbem-10897	23	1	(	(	PUNCT
fbem-10897	23	2	2023	2023	NUM
fbem-10897	23	3	)	)	PUNCT
fbem-10897	23	4	used	use	VERB
fbem-10897	23	5	the	the	DET
fbem-10897	23	6	fitting	fitting	ADJ
fbem-10897	23	7	coefficient	coefficient	NOUN
fbem-10897	23	8	of	of	ADP
fbem-10897	23	9	capital	capital	NOUN
fbem-10897	23	10	asset	asset	NOUN
fbem-10897	23	11	pricing	pricing	NOUN
fbem-10897	23	12	model	model	NOUN
fbem-10897	23	13	to	to	PART
fbem-10897	23	14	show	show	VERB
fbem-10897	23	15	the	the	DET
fbem-10897	23	16	synchronization	synchronization	NOUN
fbem-10897	23	17	of	of	ADP
fbem-10897	23	18	enterprise	enterprise	NOUN
fbem-10897	23	19	stock	stock	NOUN
fbem-10897	23	20	price	price	NOUN
fbem-10897	23	21	.	.	PUNCT
fbem-10897	24	1	empirical	empirical	ADJ
fbem-10897	24	2	research	research	NOUN
fbem-10897	24	3	shows	show	VERB
fbem-10897	24	4	that	that	SCONJ
fbem-10897	24	5	good	good	ADJ
fbem-10897	24	6	esg	esg	PROPN
fbem-10897	24	7	performance	performance	NOUN
fbem-10897	24	8	can	can	AUX
fbem-10897	24	9	reduce	reduce	VERB
fbem-10897	24	10	the	the	DET
fbem-10897	24	11	noise	noise	NOUN
fbem-10897	24	12	in	in	ADP
fbem-10897	24	13	the	the	DET
fbem-10897	24	14	market	market	NOUN
fbem-10897	24	15	and	and	CCONJ
fbem-10897	24	16	improve	improve	VERB
fbem-10897	24	17	the	the	DET
fbem-10897	24	18	synchronization	synchronization	NOUN
fbem-10897	24	19	of	of	ADP
fbem-10897	24	20	stock	stock	NOUN
fbem-10897	24	21	price	price	NOUN
fbem-10897	24	22	,	,	PUNCT
fbem-10897	24	23	and	and	CCONJ
fbem-10897	24	24	this	this	DET
fbem-10897	24	25	phenomenon	phenomenon	NOUN
fbem-10897	24	26	is	be	AUX
fbem-10897	24	27	more	more	ADV
fbem-10897	24	28	obvious	obvious	ADJ
fbem-10897	24	29	among	among	ADP
fbem-10897	24	30	enterprises	enterprise	NOUN
fbem-10897	24	31	and	and	CCONJ
fbem-10897	24	32	non	non	ADJ
fbem-10897	24	33	-	-	ADJ
fbem-10897	24	34	state	state	NOUN
fbem-10897	24	35	-	-	PUNCT
fbem-10897	24	36	owned	own	VERB
fbem-10897	24	37	enterprises	enterprise	NOUN
fbem-10897	24	38	with	with	ADP
fbem-10897	24	39	low	low	ADJ
fbem-10897	24	40	media	medium	NOUN
fbem-10897	24	41	attention[4	attention[4	NOUN
fbem-10897	24	42	]	]	PUNCT
fbem-10897	24	43	.	.	PUNCT
fbem-10897	25	1	in	in	ADP
fbem-10897	25	2	addition	addition	NOUN
fbem-10897	25	3	,	,	PUNCT
fbem-10897	25	4	zhang	zhang	PROPN
fbem-10897	25	5	lin	lin	PROPN
fbem-10897	25	6	(	(	PUNCT
fbem-10897	25	7	2019)[5	2019)[5	PROPN
fbem-10897	25	8	]	]	PUNCT
fbem-10897	25	9	,	,	PUNCT
fbem-10897	25	10	xue	xue	PROPN
fbem-10897	25	11	tianhang	tianhang	PROPN
fbem-10897	25	12	(	(	PUNCT
fbem-10897	25	13	2022)[6]and	2022)[6]and	NUM
fbem-10897	25	14	xu	xu	PROPN
fbem-10897	25	15	guanghua	guanghua	PROPN
fbem-10897	25	16	(	(	PUNCT
fbem-10897	25	17	2022)[7]the	2022)[7]the	DET
fbem-10897	25	18	research	research	NOUN
fbem-10897	25	19	of	of	ADP
fbem-10897	25	20	other	other	ADJ
fbem-10897	25	21	scholars	scholar	NOUN
fbem-10897	25	22	also	also	ADV
fbem-10897	25	23	shows	show	VERB
fbem-10897	25	24	that	that	SCONJ
fbem-10897	25	25	esg	esg	NOUN
fbem-10897	25	26	rating	rating	NOUN
fbem-10897	25	27	has	have	VERB
fbem-10897	25	28	a	a	DET
fbem-10897	25	29	positive	positive	ADJ
fbem-10897	25	30	effect	effect	NOUN
fbem-10897	25	31	on	on	ADP
fbem-10897	25	32	enterprise	enterprise	NOUN
fbem-10897	25	33	value	value	NOUN
fbem-10897	25	34	in	in	ADP
fbem-10897	25	35	terms	term	NOUN
fbem-10897	25	36	of	of	ADP
fbem-10897	25	37	enterprise	enterprise	NOUN
fbem-10897	25	38	innovation	innovation	NOUN
fbem-10897	25	39	performance	performance	NOUN
fbem-10897	25	40	and	and	CCONJ
fbem-10897	25	41	the	the	DET
fbem-10897	25	42	improvement	improvement	NOUN
fbem-10897	25	43	of	of	ADP
fbem-10897	25	44	enterprise	enterprise	NOUN
fbem-10897	25	45	heterogeneous	heterogeneous	ADJ
fbem-10897	25	46	enterprise	enterprise	NOUN
fbem-10897	25	47	profitability	profitability	NOUN
fbem-10897	25	48	.	.	PUNCT
fbem-10897	26	1	at	at	ADP
fbem-10897	26	2	the	the	DET
fbem-10897	26	3	same	same	ADJ
fbem-10897	26	4	time	time	NOUN
fbem-10897	26	5	,	,	PUNCT
fbem-10897	26	6	some	some	DET
fbem-10897	26	7	scholars	scholar	NOUN
fbem-10897	26	8	'	'	PART
fbem-10897	26	9	research	research	NOUN
fbem-10897	26	10	results	result	NOUN
fbem-10897	26	11	show	show	VERB
fbem-10897	26	12	that	that	SCONJ
fbem-10897	26	13	the	the	DET
fbem-10897	26	14	enterprise	enterprise	NOUN
fbem-10897	26	15	esg	esg	NOUN
fbem-10897	26	16	practice	practice	NOUN
fbem-10897	26	17	and	and	CCONJ
fbem-10897	26	18	other	other	ADJ
fbem-10897	26	19	aspects	aspect	NOUN
fbem-10897	26	20	show	show	VERB
fbem-10897	26	21	incomplete	incomplete	ADJ
fbem-10897	26	22	positive	positive	ADJ
fbem-10897	26	23	changes	change	NOUN
fbem-10897	26	24	with	with	ADP
fbem-10897	26	25	the	the	DET
fbem-10897	26	26	enterprise	enterprise	NOUN
fbem-10897	26	27	value	value	NOUN
fbem-10897	26	28	.	.	PUNCT
fbem-10897	27	1	yi	yi	PROPN
fbem-10897	27	2	ling	ling	PROPN
fbem-10897	27	3	snow	snow	PROPN
fbem-10897	27	4	(	(	PUNCT
fbem-10897	27	5	2022	2022	NUM
fbem-10897	27	6	)	)	PUNCT
fbem-10897	27	7	with	with	ADP
fbem-10897	27	8	topin	topin	NOUN
fbem-10897	27	9	q	q	NOUN
fbem-10897	27	10	value	value	NOUN
fbem-10897	27	11	enterprise	enterprise	NOUN
fbem-10897	27	12	value	value	NOUN
fbem-10897	27	13	,	,	PUNCT
fbem-10897	27	14	and	and	CCONJ
fbem-10897	27	15	according	accord	VERB
fbem-10897	27	16	to	to	ADP
fbem-10897	27	17	the	the	DET
fbem-10897	27	18	content	content	NOUN
fbem-10897	27	19	analysis	analysis	NOUN
fbem-10897	27	20	of	of	ADP
fbem-10897	27	21	enterprise	enterprise	NOUN
fbem-10897	27	22	esg	esg	NOUN
fbem-10897	27	23	practice	practice	NOUN
fbem-10897	27	24	project	project	NOUN
fbem-10897	27	25	,	,	PUNCT
fbem-10897	27	26	empirical	empirical	ADJ
fbem-10897	27	27	research	research	NOUN
fbem-10897	27	28	shows	show	VERB
fbem-10897	27	29	that	that	SCONJ
fbem-10897	27	30	esg	esg	NOUN
fbem-10897	27	31	practice	practice	NOUN
fbem-10897	27	32	has	have	VERB
fbem-10897	27	33	significant	significant	ADJ
fbem-10897	27	34	negative	negative	ADJ
fbem-10897	27	35	effect	effect	NOUN
fbem-10897	27	36	on	on	ADP
fbem-10897	27	37	the	the	DET
fbem-10897	27	38	current	current	ADJ
fbem-10897	27	39	value	value	NOUN
fbem-10897	27	40	,	,	PUNCT
fbem-10897	27	41	but	but	CCONJ
fbem-10897	27	42	with	with	ADP
fbem-10897	27	43	the	the	DET
fbem-10897	27	44	deepening	deepening	NOUN
fbem-10897	27	45	of	of	ADP
fbem-10897	27	46	esg	esg	NOUN
fbem-10897	27	47	practice	practice	NOUN
fbem-10897	27	48	and	and	CCONJ
fbem-10897	27	49	practice	practice	NOUN
fbem-10897	27	50	value	value	NOUN
fbem-10897	27	51	effect	effect	NOUN
fbem-10897	27	52	,	,	PUNCT
fbem-10897	27	53	esg	esg	NOUN
fbem-10897	27	54	149	149	NUM
fbem-10897	27	55	practice	practice	NOUN
fbem-10897	27	56	of	of	ADP
fbem-10897	27	57	enterprise	enterprise	NOUN
fbem-10897	27	58	competitiveness	competitiveness	NOUN
fbem-10897	27	59	and	and	CCONJ
fbem-10897	27	60	enterprise	enterprise	NOUN
fbem-10897	27	61	risk	risk	NOUN
fbem-10897	27	62	reduce	reduce	VERB
fbem-10897	27	63	the	the	DET
fbem-10897	27	64	effect	effect	NOUN
fbem-10897	27	65	gradually	gradually	ADV
fbem-10897	27	66	become	become	VERB
fbem-10897	27	67	positive[8	positive[8	NOUN
fbem-10897	27	68	]	]	PUNCT
fbem-10897	27	69	.	.	PUNCT
fbem-10897	28	1	wang	wang	PROPN
fbem-10897	28	2	rong	rong	PROPN
fbem-10897	28	3	(	(	PUNCT
fbem-10897	28	4	2022	2022	NUM
fbem-10897	28	5	)	)	PUNCT
fbem-10897	28	6	studied	study	VERB
fbem-10897	28	7	the	the	DET
fbem-10897	28	8	relationship	relationship	NOUN
fbem-10897	28	9	between	between	ADP
fbem-10897	28	10	esg	esg	PROPN
fbem-10897	28	11	information	information	PROPN
fbem-10897	28	12	disclosure	disclosure	NOUN
fbem-10897	28	13	behavior	behavior	NOUN
fbem-10897	28	14	and	and	CCONJ
fbem-10897	28	15	enterprise	enterprise	NOUN
fbem-10897	28	16	value	value	NOUN
fbem-10897	28	17	,	,	PUNCT
fbem-10897	28	18	the	the	DET
fbem-10897	28	19	study	study	NOUN
fbem-10897	28	20	found	find	VERB
fbem-10897	28	21	that	that	SCONJ
fbem-10897	28	22	esg	esg	NOUN
fbem-10897	28	23	rating	rating	NOUN
fbem-10897	28	24	and	and	CCONJ
fbem-10897	28	25	tobin	tobin	PROPN
fbem-10897	28	26	q	q	PROPN
fbem-10897	28	27	value	value	NOUN
fbem-10897	28	28	is	be	AUX
fbem-10897	28	29	"	"	PUNCT
fbem-10897	28	30	u	u	NOUN
fbem-10897	28	31	"	"	PUNCT
fbem-10897	28	32	type	type	NOUN
fbem-10897	28	33	relationship	relationship	NOUN
fbem-10897	28	34	,	,	PUNCT
fbem-10897	28	35	when	when	SCONJ
fbem-10897	28	36	the	the	DET
fbem-10897	28	37	enterprise	enterprise	NOUN
fbem-10897	28	38	esg	esg	NOUN
fbem-10897	28	39	rating	rating	NOUN
fbem-10897	28	40	is	be	AUX
fbem-10897	28	41	too	too	ADV
fbem-10897	28	42	low	low	ADJ
fbem-10897	28	43	,	,	PUNCT
fbem-10897	28	44	even	even	ADV
fbem-10897	28	45	if	if	SCONJ
fbem-10897	28	46	the	the	DET
fbem-10897	28	47	rating	rating	NOUN
fbem-10897	28	48	has	have	VERB
fbem-10897	28	49	a	a	DET
fbem-10897	28	50	small	small	ADJ
fbem-10897	28	51	rise	rise	NOUN
fbem-10897	28	52	,	,	PUNCT
fbem-10897	28	53	enterprise	enterprise	NOUN
fbem-10897	28	54	value	value	NOUN
fbem-10897	28	55	will	will	AUX
fbem-10897	28	56	fall	fall	VERB
fbem-10897	28	57	,	,	PUNCT
fbem-10897	28	58	and	and	CCONJ
fbem-10897	28	59	when	when	SCONJ
fbem-10897	28	60	the	the	DET
fbem-10897	28	61	enterprise	enterprise	NOUN
fbem-10897	28	62	esg	esg	NOUN
fbem-10897	28	63	score	score	NOUN
fbem-10897	28	64	above	above	ADP
fbem-10897	28	65	the	the	DET
fbem-10897	28	66	critical	critical	ADJ
fbem-10897	28	67	point	point	NOUN
fbem-10897	28	68	of	of	ADP
fbem-10897	28	69	6.358	6.358	NUM
fbem-10897	28	70	,	,	PUNCT
fbem-10897	28	71	esg	esg	PROPN
fbem-10897	28	72	information	information	NOUN
fbem-10897	28	73	disclosure	disclosure	NOUN
fbem-10897	28	74	to	to	PART
fbem-10897	28	75	improve	improve	VERB
fbem-10897	28	76	the	the	DET
fbem-10897	28	77	enterprise	enterprise	NOUN
fbem-10897	28	78	value	value	NOUN
fbem-10897	28	79	has	have	VERB
fbem-10897	28	80	a	a	DET
fbem-10897	28	81	positive	positive	ADJ
fbem-10897	28	82	effect[9	effect[9	NOUN
fbem-10897	28	83	]	]	PUNCT
fbem-10897	28	84	.	.	PUNCT
fbem-10897	29	1	to	to	PART
fbem-10897	29	2	sum	sum	VERB
fbem-10897	29	3	up	up	ADP
fbem-10897	29	4	,	,	PUNCT
fbem-10897	29	5	the	the	DET
fbem-10897	29	6	current	current	ADJ
fbem-10897	29	7	studies	study	NOUN
fbem-10897	29	8	mostly	mostly	ADV
fbem-10897	29	9	reflect	reflect	VERB
fbem-10897	29	10	the	the	DET
fbem-10897	29	11	enterprise	enterprise	NOUN
fbem-10897	29	12	value	value	NOUN
fbem-10897	29	13	level	level	NOUN
fbem-10897	29	14	through	through	ADP
fbem-10897	29	15	the	the	DET
fbem-10897	29	16	q	q	NOUN
fbem-10897	29	17	value	value	NOUN
fbem-10897	29	18	of	of	ADP
fbem-10897	29	19	tobin	tobin	NOUN
fbem-10897	29	20	.	.	PUNCT
fbem-10897	30	1	the	the	DET
fbem-10897	30	2	research	research	NOUN
fbem-10897	30	3	field	field	NOUN
fbem-10897	30	4	mainly	mainly	ADV
fbem-10897	30	5	focuses	focus	VERB
fbem-10897	30	6	on	on	ADP
fbem-10897	30	7	the	the	DET
fbem-10897	30	8	overall	overall	ADJ
fbem-10897	30	9	research	research	NOUN
fbem-10897	30	10	on	on	ADP
fbem-10897	30	11	all	all	DET
fbem-10897	30	12	listed	list	VERB
fbem-10897	30	13	companies	company	NOUN
fbem-10897	30	14	,	,	PUNCT
fbem-10897	30	15	while	while	SCONJ
fbem-10897	30	16	there	there	PRON
fbem-10897	30	17	are	be	VERB
fbem-10897	30	18	relatively	relatively	ADV
fbem-10897	30	19	few	few	ADJ
fbem-10897	30	20	case	case	NOUN
fbem-10897	30	21	studies	study	NOUN
fbem-10897	30	22	on	on	ADP
fbem-10897	30	23	specific	specific	ADJ
fbem-10897	30	24	events	event	NOUN
fbem-10897	30	25	.	.	PUNCT
fbem-10897	31	1	therefore	therefore	ADV
fbem-10897	31	2	,	,	PUNCT
fbem-10897	31	3	this	this	DET
fbem-10897	31	4	paper	paper	NOUN
fbem-10897	31	5	focuses	focus	VERB
fbem-10897	31	6	on	on	ADP
fbem-10897	31	7	the	the	DET
fbem-10897	31	8	impact	impact	NOUN
fbem-10897	31	9	of	of	ADP
fbem-10897	31	10	specific	specific	ADJ
fbem-10897	31	11	events	event	NOUN
fbem-10897	31	12	and	and	CCONJ
fbem-10897	31	13	esg	esg	NOUN
fbem-10897	31	14	performance	performance	NOUN
fbem-10897	31	15	of	of	ADP
fbem-10897	31	16	enterprises	enterprise	NOUN
fbem-10897	31	17	on	on	ADP
fbem-10897	31	18	enterprise	enterprise	NOUN
fbem-10897	31	19	value	value	NOUN
fbem-10897	31	20	,	,	PUNCT
fbem-10897	31	21	deeply	deeply	ADV
fbem-10897	31	22	explores	explore	VERB
fbem-10897	31	23	the	the	DET
fbem-10897	31	24	correlation	correlation	NOUN
fbem-10897	31	25	between	between	ADP
fbem-10897	31	26	esg	esg	NOUN
fbem-10897	31	27	factors	factor	NOUN
fbem-10897	31	28	and	and	CCONJ
fbem-10897	31	29	enterprise	enterprise	NOUN
fbem-10897	31	30	value	value	NOUN
fbem-10897	31	31	in	in	ADP
fbem-10897	31	32	specific	specific	ADJ
fbem-10897	31	33	situations	situation	NOUN
fbem-10897	31	34	to	to	PART
fbem-10897	31	35	promote	promote	VERB
fbem-10897	31	36	enterprise	enterprise	NOUN
fbem-10897	31	37	esg	esg	NOUN
fbem-10897	31	38	performance	performance	NOUN
fbem-10897	31	39	,	,	PUNCT
fbem-10897	31	40	and	and	CCONJ
fbem-10897	31	41	provides	provide	VERB
fbem-10897	31	42	accurate	accurate	ADJ
fbem-10897	31	43	and	and	CCONJ
fbem-10897	31	44	practical	practical	ADJ
fbem-10897	31	45	reference	reference	NOUN
fbem-10897	31	46	for	for	ADP
fbem-10897	31	47	their	their	PRON
fbem-10897	31	48	stakeholders	stakeholder	NOUN
fbem-10897	31	49	to	to	PART
fbem-10897	31	50	make	make	VERB
fbem-10897	31	51	decisions	decision	NOUN
fbem-10897	31	52	.	.	PUNCT
fbem-10897	32	1	3	3	X
fbem-10897	32	2	.	.	X
fbem-10897	32	3	introduction	introduction	NOUN
fbem-10897	32	4	of	of	ADP
fbem-10897	32	5	esg	esg	PROPN
fbem-10897	32	6	3.1	3.1	NUM
fbem-10897	32	7	.	.	PUNCT
fbem-10897	33	1	msci	msci	PROPN
fbem-10897	33	2	esg	esg	PROPN
fbem-10897	33	3	rating	rating	NOUN
fbem-10897	33	4	performance	performance	NOUN
fbem-10897	33	5	for	for	ADP
fbem-10897	33	6	home	home	NOUN
fbem-10897	33	7	and	and	CCONJ
fbem-10897	33	8	personal	personal	ADJ
fbem-10897	33	9	goods	good	NOUN
fbem-10897	33	10	industry	industry	NOUN
fbem-10897	33	11	as	as	ADP
fbem-10897	33	12	of	of	ADP
fbem-10897	33	13	march	march	PROPN
fbem-10897	33	14	2023	2023	NUM
fbem-10897	33	15	,	,	PUNCT
fbem-10897	33	16	a	a	DET
fbem-10897	33	17	total	total	NOUN
fbem-10897	33	18	of	of	ADP
fbem-10897	33	19	31	31	NUM
fbem-10897	33	20	listed	list	VERB
fbem-10897	33	21	companies	company	NOUN
fbem-10897	33	22	were	be	AUX
fbem-10897	33	23	included	include	VERB
fbem-10897	33	24	in	in	ADP
fbem-10897	33	25	the	the	DET
fbem-10897	33	26	msci	msci	PROPN
fbem-10897	33	27	home	home	NOUN
fbem-10897	33	28	furnishing	furnishing	NOUN
fbem-10897	33	29	and	and	CCONJ
fbem-10897	33	30	personal	personal	ADJ
fbem-10897	33	31	goods	good	NOUN
fbem-10897	33	32	industry	industry	NOUN
fbem-10897	33	33	(	(	PUNCT
fbem-10897	33	34	household	household	NOUN
fbem-10897	33	35	&	&	CCONJ
fbem-10897	33	36	personal	personal	ADJ
fbem-10897	33	37	roducts	roduct	NOUN
fbem-10897	33	38	)	)	PUNCT
fbem-10897	33	39	,	,	PUNCT
fbem-10897	33	40	of	of	ADP
fbem-10897	33	41	which	which	PRON
fbem-10897	33	42	13	13	NUM
fbem-10897	33	43	%	%	NOUN
fbem-10897	33	44	were	be	AUX
fbem-10897	33	45	aaa	aaa	NOUN
fbem-10897	33	46	rating	rating	NOUN
fbem-10897	33	47	,	,	PUNCT
fbem-10897	33	48	19	19	NUM
fbem-10897	33	49	%	%	NOUN
fbem-10897	33	50	aa	aa	NOUN
fbem-10897	33	51	,	,	PUNCT
fbem-10897	33	52	13	13	NUM
fbem-10897	33	53	%	%	NOUN
fbem-10897	33	54	a	a	DET
fbem-10897	33	55	rating	rating	NOUN
fbem-10897	33	56	,	,	PUNCT
fbem-10897	33	57	13	13	NUM
fbem-10897	33	58	%	%	NOUN
fbem-10897	33	59	bbb	bbb	NOUN
fbem-10897	33	60	and	and	CCONJ
fbem-10897	33	61	16	16	NUM
fbem-10897	33	62	%	%	NOUN
fbem-10897	33	63	bb	bb	NUM
fbem-10897	33	64	respectively	respectively	ADV
fbem-10897	33	65	.	.	PUNCT
fbem-10897	34	1	since	since	SCONJ
fbem-10897	34	2	october	october	PROPN
fbem-10897	34	3	2022	2022	NUM
fbem-10897	34	4	,	,	PUNCT
fbem-10897	34	5	msci	msci	PROPN
fbem-10897	34	6	has	have	AUX
fbem-10897	34	7	upgraded	upgrade	VERB
fbem-10897	34	8	the	the	DET
fbem-10897	34	9	esg	esg	NOUN
fbem-10897	34	10	rating	rating	NOUN
fbem-10897	34	11	to	to	ADP
fbem-10897	34	12	bbb	bbb	PROPN
fbem-10897	34	13	to	to	ADP
fbem-10897	34	14	the	the	DET
fbem-10897	34	15	market	market	NOUN
fbem-10897	34	16	average	average	NOUN
fbem-10897	34	17	.	.	PUNCT
fbem-10897	35	1	figure	figure	NOUN
fbem-10897	35	2	1	1	NUM
fbem-10897	35	3	.	.	PUNCT
fbem-10897	36	1	msci	msci	PROPN
fbem-10897	36	2	home	home	NOUN
fbem-10897	36	3	furnishing	furnishing	NOUN
fbem-10897	36	4	and	and	CCONJ
fbem-10897	36	5	personal	personal	ADJ
fbem-10897	36	6	goods	good	NOUN
fbem-10897	36	7	industry	industry	NOUN
fbem-10897	36	8	rating	rating	NOUN
fbem-10897	36	9	performance	performance	NOUN
fbem-10897	36	10	throughout	throughout	ADP
fbem-10897	36	11	the	the	DET
fbem-10897	36	12	domestic	domestic	ADJ
fbem-10897	36	13	consumer	consumer	NOUN
fbem-10897	36	14	goods	good	NOUN
fbem-10897	36	15	industry	industry	NOUN
fbem-10897	36	16	,	,	PUNCT
fbem-10897	36	17	the	the	DET
fbem-10897	36	18	consumer	consumer	NOUN
fbem-10897	36	19	goods	good	NOUN
fbem-10897	36	20	market	market	NOUN
fbem-10897	36	21	has	have	AUX
fbem-10897	36	22	shifted	shift	VERB
fbem-10897	36	23	from	from	ADP
fbem-10897	36	24	emphasizing	emphasize	VERB
fbem-10897	36	25	consumerism	consumerism	NOUN
fbem-10897	36	26	to	to	ADP
fbem-10897	36	27	emphasizing	emphasize	VERB
fbem-10897	36	28	social	social	ADJ
fbem-10897	36	29	responsibility	responsibility	NOUN
fbem-10897	36	30	,	,	PUNCT
fbem-10897	36	31	and	and	CCONJ
fbem-10897	36	32	no	no	ADV
fbem-10897	36	33	longer	long	ADV
fbem-10897	36	34	blindly	blindly	ADV
fbem-10897	36	35	pursuing	pursue	VERB
fbem-10897	36	36	high	high	ADJ
fbem-10897	36	37	growth	growth	NOUN
fbem-10897	36	38	to	to	ADP
fbem-10897	36	39	emphasizing	emphasize	VERB
fbem-10897	36	40	sustainable	sustainable	ADJ
fbem-10897	36	41	development	development	NOUN
fbem-10897	36	42	.	.	PUNCT
fbem-10897	37	1	the	the	DET
fbem-10897	37	2	consumption	consumption	NOUN
fbem-10897	37	3	concept	concept	NOUN
fbem-10897	37	4	of	of	ADP
fbem-10897	37	5	consumers	consumer	NOUN
fbem-10897	37	6	has	have	VERB
fbem-10897	37	7	an	an	DET
fbem-10897	37	8	important	important	ADJ
fbem-10897	37	9	impact	impact	NOUN
fbem-10897	37	10	on	on	ADP
fbem-10897	37	11	the	the	DET
fbem-10897	37	12	development	development	NOUN
fbem-10897	37	13	of	of	ADP
fbem-10897	37	14	the	the	DET
fbem-10897	37	15	cosmetics	cosmetic	NOUN
fbem-10897	37	16	industry	industry	NOUN
fbem-10897	37	17	.	.	PUNCT
fbem-10897	38	1	with	with	ADP
fbem-10897	38	2	the	the	DET
fbem-10897	38	3	increasing	increase	VERB
fbem-10897	38	4	attention	attention	NOUN
fbem-10897	38	5	of	of	ADP
fbem-10897	38	6	consumers	consumer	NOUN
fbem-10897	38	7	to	to	ADP
fbem-10897	38	8	the	the	DET
fbem-10897	38	9	concept	concept	NOUN
fbem-10897	38	10	of	of	ADP
fbem-10897	38	11	green	green	ADJ
fbem-10897	38	12	consumption	consumption	NOUN
fbem-10897	38	13	,	,	PUNCT
fbem-10897	38	14	the	the	DET
fbem-10897	38	15	construction	construction	NOUN
fbem-10897	38	16	of	of	ADP
fbem-10897	38	17	esg	esg	PROPN
fbem-10897	38	18	in	in	ADP
fbem-10897	38	19	the	the	DET
fbem-10897	38	20	cosmetics	cosmetic	NOUN
fbem-10897	38	21	industry	industry	NOUN
fbem-10897	38	22	is	be	AUX
fbem-10897	38	23	imminent	imminent	ADJ
fbem-10897	38	24	.	.	PUNCT
fbem-10897	39	1	3.2	3.2	NUM
fbem-10897	39	2	.	.	PUNCT
fbem-10897	40	1	proya	proya	PROPN
fbem-10897	40	2	esg	esg	PROPN
fbem-10897	40	3	management	management	PROPN
fbem-10897	40	4	the	the	DET
fbem-10897	40	5	business	business	NOUN
fbem-10897	40	6	of	of	ADP
fbem-10897	40	7	proya	proya	PROPN
fbem-10897	40	8	cosmetics	cosmetics	PROPN
fbem-10897	40	9	co.	co.	PROPN
fbem-10897	40	10	,	,	PUNCT
fbem-10897	40	11	ltd	ltd	PROPN
fbem-10897	40	12	.	.	PROPN
fbem-10897	40	13	focuses	focus	VERB
fbem-10897	40	14	on	on	ADP
fbem-10897	40	15	cosmetics	cosmetic	NOUN
fbem-10897	40	16	products	product	NOUN
fbem-10897	40	17	.	.	PUNCT
fbem-10897	41	1	the	the	DET
fbem-10897	41	2	main	main	ADJ
fbem-10897	41	3	business	business	NOUN
fbem-10897	41	4	is	be	AUX
fbem-10897	41	5	the	the	DET
fbem-10897	41	6	research	research	NOUN
fbem-10897	41	7	and	and	CCONJ
fbem-10897	41	8	development	development	NOUN
fbem-10897	41	9	,	,	PUNCT
fbem-10897	41	10	production	production	NOUN
fbem-10897	41	11	and	and	CCONJ
fbem-10897	41	12	sales	sale	NOUN
fbem-10897	41	13	of	of	ADP
fbem-10897	41	14	cosmetics	cosmetic	NOUN
fbem-10897	41	15	products	product	NOUN
fbem-10897	41	16	.	.	PUNCT
fbem-10897	42	1	the	the	DET
fbem-10897	42	2	company	company	NOUN
fbem-10897	42	3	has	have	VERB
fbem-10897	42	4	a	a	DET
fbem-10897	42	5	number	number	NOUN
fbem-10897	42	6	of	of	ADP
fbem-10897	42	7	cosmetics	cosmetic	NOUN
fbem-10897	42	8	brands	brand	NOUN
fbem-10897	42	9	,	,	PUNCT
fbem-10897	42	10	including	include	VERB
fbem-10897	42	11	proya	proya	NOUN
fbem-10897	42	12	,	,	PUNCT
fbem-10897	42	13	timage	timage	NOUN
fbem-10897	42	14	,	,	PUNCT
fbem-10897	42	15	hapsode	hapsode	ADJ
fbem-10897	42	16	,	,	PUNCT
fbem-10897	42	17	uzero	uzero	NOUN
fbem-10897	42	18	,	,	PUNCT
fbem-10897	42	19	insbaha	insbaha	PROPN
fbem-10897	42	20	,	,	PUNCT
fbem-10897	42	21	yoya	yoya	ADJ
fbem-10897	42	22	and	and	CCONJ
fbem-10897	42	23	off	off	ADV
fbem-10897	42	24	&	&	CCONJ
fbem-10897	42	25	relax	relax	VERB
fbem-10897	42	26	.	.	PUNCT
fbem-10897	43	1	from	from	ADP
fbem-10897	43	2	2020	2020	NUM
fbem-10897	43	3	,	,	PUNCT
fbem-10897	43	4	proya	proya	NOUN
fbem-10897	43	5	will	will	AUX
fbem-10897	43	6	release	release	VERB
fbem-10897	43	7	a	a	DET
fbem-10897	43	8	sustainability	sustainability	NOUN
fbem-10897	43	9	report	report	NOUN
fbem-10897	43	10	,	,	PUNCT
fbem-10897	43	11	covering	cover	VERB
fbem-10897	43	12	the	the	DET
fbem-10897	43	13	company	company	NOUN
fbem-10897	43	14	's	's	PART
fbem-10897	43	15	economic	economic	ADJ
fbem-10897	43	16	,	,	PUNCT
fbem-10897	43	17	social	social	ADJ
fbem-10897	43	18	and	and	CCONJ
fbem-10897	43	19	environmental	environmental	ADJ
fbem-10897	43	20	contributions	contribution	NOUN
fbem-10897	43	21	.	.	PUNCT
fbem-10897	44	1	in	in	ADP
fbem-10897	44	2	the	the	DET
fbem-10897	44	3	year	year	NOUN
fbem-10897	44	4	of	of	ADP
fbem-10897	44	5	the	the	DET
fbem-10897	44	6	report	report	NOUN
fbem-10897	44	7	,	,	PUNCT
fbem-10897	44	8	the	the	DET
fbem-10897	44	9	company	company	NOUN
fbem-10897	44	10	was	be	AUX
fbem-10897	44	11	included	include	VERB
fbem-10897	44	12	in	in	ADP
fbem-10897	44	13	the	the	DET
fbem-10897	44	14	esg	esg	NOUN
fbem-10897	44	15	of	of	ADP
fbem-10897	44	16	msci	msci	PROPN
fbem-10897	44	17	rating	rating	NOUN
fbem-10897	44	18	and	and	CCONJ
fbem-10897	44	19	was	be	AUX
fbem-10897	44	20	given	give	VERB
fbem-10897	44	21	the	the	DET
fbem-10897	44	22	lowest	low	ADJ
fbem-10897	44	23	rating	rating	NOUN
fbem-10897	44	24	(	(	PUNCT
fbem-10897	44	25	ccc	ccc	PROPN
fbem-10897	44	26	grade	grade	NOUN
fbem-10897	44	27	)	)	PUNCT
fbem-10897	44	28	.	.	PUNCT
fbem-10897	45	1	in	in	ADP
fbem-10897	45	2	2021	2021	NUM
fbem-10897	45	3	,	,	PUNCT
fbem-10897	45	4	the	the	DET
fbem-10897	45	5	company	company	NOUN
fbem-10897	45	6	set	set	VERB
fbem-10897	45	7	up	up	ADP
fbem-10897	45	8	an	an	DET
fbem-10897	45	9	esg	esg	NOUN
fbem-10897	45	10	organizational	organizational	ADJ
fbem-10897	45	11	structure	structure	NOUN
fbem-10897	45	12	covering	cover	VERB
fbem-10897	45	13	the	the	DET
fbem-10897	45	14	whole	whole	ADJ
fbem-10897	45	15	company	company	NOUN
fbem-10897	45	16	led	lead	VERB
fbem-10897	45	17	by	by	ADP
fbem-10897	45	18	the	the	DET
fbem-10897	45	19	board	board	NOUN
fbem-10897	45	20	of	of	ADP
fbem-10897	45	21	directors	director	NOUN
fbem-10897	45	22	.	.	PUNCT
fbem-10897	46	1	the	the	DET
fbem-10897	46	2	strategy	strategy	PROPN
fbem-10897	46	3	committee	committee	PROPN
fbem-10897	46	4	of	of	ADP
fbem-10897	46	5	the	the	DET
fbem-10897	46	6	company	company	NOUN
fbem-10897	46	7	leads	lead	VERB
fbem-10897	46	8	the	the	DET
fbem-10897	46	9	overall	overall	ADJ
fbem-10897	46	10	situation	situation	NOUN
fbem-10897	46	11	and	and	CCONJ
fbem-10897	46	12	formulates	formulate	VERB
fbem-10897	46	13	relevant	relevant	ADJ
fbem-10897	46	14	strategic	strategic	ADJ
fbem-10897	46	15	plans	plan	NOUN
fbem-10897	46	16	.	.	PUNCT
fbem-10897	47	1	the	the	DET
fbem-10897	47	2	subordinate	subordinate	PROPN
fbem-10897	47	3	esg	esg	PROPN
fbem-10897	47	4	management	management	PROPN
fbem-10897	47	5	committee	committee	NOUN
fbem-10897	47	6	is	be	AUX
fbem-10897	47	7	responsible	responsible	ADJ
fbem-10897	47	8	for	for	ADP
fbem-10897	47	9	the	the	DET
fbem-10897	47	10	specific	specific	ADJ
fbem-10897	47	11	management	management	NOUN
fbem-10897	47	12	of	of	ADP
fbem-10897	47	13	esg	esg	PROPN
fbem-10897	47	14	major	major	ADJ
fbem-10897	47	15	projects	project	NOUN
fbem-10897	47	16	and	and	CCONJ
fbem-10897	47	17	related	related	ADJ
fbem-10897	47	18	effectiveness	effectiveness	NOUN
fbem-10897	47	19	assessment	assessment	NOUN
fbem-10897	47	20	,	,	PUNCT
fbem-10897	47	21	and	and	CCONJ
fbem-10897	47	22	regularly	regularly	ADV
fbem-10897	47	23	reports	report	VERB
fbem-10897	47	24	to	to	ADP
fbem-10897	47	25	the	the	DET
fbem-10897	47	26	board	board	NOUN
fbem-10897	47	27	of	of	ADP
fbem-10897	47	28	directors	director	NOUN
fbem-10897	47	29	.	.	PUNCT
fbem-10897	48	1	in	in	ADP
fbem-10897	48	2	2022	2022	NUM
fbem-10897	48	3	,	,	PUNCT
fbem-10897	48	4	the	the	DET
fbem-10897	48	5	company	company	NOUN
fbem-10897	48	6	formulated	formulate	VERB
fbem-10897	48	7	the	the	DET
fbem-10897	48	8	first	first	ADJ
fbem-10897	48	9	sustainable	sustainable	ADJ
fbem-10897	48	10	development	development	NOUN
fbem-10897	48	11	strategic	strategic	ADJ
fbem-10897	48	12	plan	plan	NOUN
fbem-10897	48	13	,	,	PUNCT
fbem-10897	48	14	"	"	PUNCT
fbem-10897	48	15	sustainable	sustainable	ADJ
fbem-10897	48	16	development	development	NOUN
fbem-10897	48	17	strategic	strategic	ADJ
fbem-10897	48	18	plan	plan	NOUN
fbem-10897	48	19	of	of	ADP
fbem-10897	48	20	proya	proya	ADJ
fbem-10897	48	21	cosmetics	cosmetic	NOUN
fbem-10897	48	22	,	,	PUNCT
fbem-10897	48	23	ltd	ltd	PROPN
fbem-10897	48	24	.	.	PROPN
fbem-10897	48	25	(	(	PUNCT
fbem-10897	48	26	2022	2022	NUM
fbem-10897	48	27	-	-	SYM
fbem-10897	48	28	2025	2025	NUM
fbem-10897	48	29	)	)	PUNCT
fbem-10897	48	30	"	"	PUNCT
fbem-10897	48	31	,	,	PUNCT
fbem-10897	48	32	to	to	PART
fbem-10897	48	33	help	help	VERB
fbem-10897	48	34	the	the	DET
fbem-10897	48	35	"	"	PUNCT
fbem-10897	48	36	two	two	NUM
fbem-10897	48	37	-	-	PUNCT
fbem-10897	48	38	carbon	carbon	NOUN
fbem-10897	48	39	"	"	PUNCT
fbem-10897	48	40	goal	goal	NOUN
fbem-10897	48	41	and	and	CCONJ
fbem-10897	48	42	contribute	contribute	VERB
fbem-10897	48	43	to	to	ADP
fbem-10897	48	44	the	the	DET
fbem-10897	48	45	joint	joint	ADJ
fbem-10897	48	46	construction	construction	NOUN
fbem-10897	48	47	of	of	ADP
fbem-10897	48	48	the	the	DET
fbem-10897	48	49	united	united	PROPN
fbem-10897	48	50	states	states	PROPN
fbem-10897	48	51	earth	earth	NOUN
fbem-10897	48	52	.	.	PUNCT
fbem-10897	49	1	at	at	ADP
fbem-10897	49	2	the	the	DET
fbem-10897	49	3	same	same	ADJ
fbem-10897	49	4	time	time	NOUN
fbem-10897	49	5	,	,	PUNCT
fbem-10897	49	6	the	the	DET
fbem-10897	49	7	organization	organization	NOUN
fbem-10897	49	8	department	department	NOUN
fbem-10897	49	9	of	of	ADP
fbem-10897	49	10	the	the	DET
fbem-10897	49	11	company	company	NOUN
fbem-10897	49	12	formulated	formulate	VERB
fbem-10897	49	13	the	the	DET
fbem-10897	49	14	2022	2022	NUM
fbem-10897	49	15	-	-	SYM
fbem-10897	49	16	2025	2025	NUM
fbem-10897	49	17	sustainable	sustainable	ADJ
fbem-10897	49	18	action	action	NOUN
fbem-10897	49	19	plan	plan	NOUN
fbem-10897	49	20	to	to	PART
fbem-10897	49	21	provide	provide	VERB
fbem-10897	49	22	suggestions	suggestion	NOUN
fbem-10897	49	23	and	and	CCONJ
fbem-10897	49	24	actions	action	NOUN
fbem-10897	49	25	for	for	ADP
fbem-10897	49	26	the	the	DET
fbem-10897	49	27	realization	realization	NOUN
fbem-10897	49	28	of	of	ADP
fbem-10897	49	29	the	the	DET
fbem-10897	49	30	sustainable	sustainable	ADJ
fbem-10897	49	31	development	development	NOUN
fbem-10897	49	32	goals	goal	NOUN
fbem-10897	49	33	of	of	ADP
fbem-10897	49	34	peraia	peraia	ADJ
fbem-10897	49	35	.	.	PUNCT
fbem-10897	50	1	in	in	ADP
fbem-10897	50	2	july	july	PROPN
fbem-10897	50	3	2022	2022	NUM
fbem-10897	50	4	,	,	PUNCT
fbem-10897	50	5	proya	proya	PROPN
fbem-10897	50	6	released	release	VERB
fbem-10897	50	7	the	the	DET
fbem-10897	50	8	first	first	ADJ
fbem-10897	50	9	esg	esg	PROPN
fbem-10897	50	10	specification	specification	NOUN
fbem-10897	50	11	,	,	PUNCT
fbem-10897	50	12	which	which	PRON
fbem-10897	50	13	includes	include	VERB
fbem-10897	50	14	products	product	NOUN
fbem-10897	50	15	,	,	PUNCT
fbem-10897	50	16	environmental	environmental	ADJ
fbem-10897	50	17	packaging	packaging	NOUN
fbem-10897	50	18	and	and	CCONJ
fbem-10897	50	19	waste	waste	NOUN
fbem-10897	50	20	management	management	NOUN
fbem-10897	50	21	specifications	specification	NOUN
fbem-10897	50	22	.	.	PUNCT
fbem-10897	51	1	msci	msci	PROPN
fbem-10897	51	2	then	then	ADV
fbem-10897	51	3	jumped	jump	VERB
fbem-10897	51	4	its	its	PRON
fbem-10897	51	5	esg	esg	NOUN
fbem-10897	51	6	rating	rating	NOUN
fbem-10897	51	7	three	three	NUM
fbem-10897	51	8	times	time	NOUN
fbem-10897	51	9	,	,	PUNCT
fbem-10897	51	10	from	from	ADP
fbem-10897	51	11	ccc	ccc	PROPN
fbem-10897	51	12	to	to	ADP
fbem-10897	51	13	bbb	bbb	PROPN
fbem-10897	51	14	,	,	PUNCT
fbem-10897	51	15	fully	fully	ADV
fbem-10897	51	16	affirming	affirm	VERB
fbem-10897	51	17	proya	proya	NOUN
fbem-10897	51	18	's	's	PART
fbem-10897	51	19	efforts	effort	NOUN
fbem-10897	51	20	in	in	ADP
fbem-10897	51	21	esg	esg	PROPN
fbem-10897	51	22	.	.	PUNCT
fbem-10897	52	1	figure	figure	NOUN
fbem-10897	52	2	2	2	NUM
fbem-10897	52	3	.	.	NOUN
fbem-10897	52	4	2020	2020	NUM
fbem-10897	52	5	-	-	SYM
fbem-10897	52	6	2022	2022	NUM
fbem-10897	52	7	peraia	peraia	ADJ
fbem-10897	52	8	msci	msci	PROPN
fbem-10897	52	9	ratings	rating	NOUN
fbem-10897	52	10	performance	performance	NOUN
fbem-10897	52	11	3.3	3.3	NUM
fbem-10897	52	12	.	.	PUNCT
fbem-10897	53	1	development	development	NOUN
fbem-10897	53	2	status	status	NOUN
fbem-10897	53	3	of	of	ADP
fbem-10897	53	4	proya	proya	NOUN
fbem-10897	53	5	esg	esg	PROPN
fbem-10897	53	6	3.3.1	3.3.1	PROPN
fbem-10897	53	7	.	.	PUNCT
fbem-10897	53	8	environmental	environmental	ADJ
fbem-10897	53	9	status	status	NOUN
fbem-10897	53	10	of	of	ADP
fbem-10897	53	11	proya	proya	NOUN
fbem-10897	53	12	in	in	ADP
fbem-10897	53	13	terms	term	NOUN
fbem-10897	53	14	of	of	ADP
fbem-10897	53	15	water	water	NOUN
fbem-10897	53	16	resources	resource	NOUN
fbem-10897	53	17	use	use	VERB
fbem-10897	53	18	,	,	PUNCT
fbem-10897	53	19	in	in	ADP
fbem-10897	53	20	2022	2022	NUM
fbem-10897	53	21	,	,	PUNCT
fbem-10897	53	22	proya	proya	PROPN
fbem-10897	53	23	established	establish	VERB
fbem-10897	53	24	a	a	DET
fbem-10897	53	25	water	water	NOUN
fbem-10897	53	26	saving	saving	NOUN
fbem-10897	53	27	management	management	NOUN
fbem-10897	53	28	leading	lead	VERB
fbem-10897	53	29	group	group	NOUN
fbem-10897	53	30	in	in	ADP
fbem-10897	53	31	huzhou	huzhou	PROPN
fbem-10897	53	32	skin	skin	NOUN
fbem-10897	53	33	care	care	NOUN
fbem-10897	53	34	factory	factory	NOUN
fbem-10897	53	35	.	.	PUNCT
fbem-10897	54	1	the	the	DET
fbem-10897	54	2	water	water	NOUN
fbem-10897	54	3	saving	saving	NOUN
fbem-10897	54	4	management	management	NOUN
fbem-10897	54	5	leading	lead	VERB
fbem-10897	54	6	group	group	NOUN
fbem-10897	54	7	will	will	AUX
fbem-10897	54	8	coordinate	coordinate	VERB
fbem-10897	54	9	the	the	DET
fbem-10897	54	10	water	water	NOUN
fbem-10897	54	11	saving	saving	NOUN
fbem-10897	54	12	management	management	NOUN
fbem-10897	54	13	,	,	PUNCT
fbem-10897	54	14	establish	establish	VERB
fbem-10897	54	15	the	the	DET
fbem-10897	54	16	water	water	NOUN
fbem-10897	54	17	saving	saving	NOUN
fbem-10897	54	18	assessment	assessment	NOUN
fbem-10897	54	19	and	and	CCONJ
fbem-10897	54	20	reward	reward	NOUN
fbem-10897	54	21	mechanism	mechanism	NOUN
fbem-10897	54	22	,	,	PUNCT
fbem-10897	54	23	improve	improve	VERB
fbem-10897	54	24	the	the	DET
fbem-10897	54	25	water	water	NOUN
fbem-10897	54	26	metering	metering	NOUN
fbem-10897	54	27	system	system	NOUN
fbem-10897	54	28	,	,	PUNCT
fbem-10897	54	29	standardize	standardize	VERB
fbem-10897	54	30	the	the	DET
fbem-10897	54	31	water	water	NOUN
fbem-10897	54	32	use	use	NOUN
fbem-10897	54	33	behavior	behavior	NOUN
fbem-10897	54	34	,	,	PUNCT
fbem-10897	54	35	and	and	CCONJ
fbem-10897	54	36	promote	promote	VERB
fbem-10897	54	37	the	the	DET
fbem-10897	54	38	continuous	continuous	ADJ
fbem-10897	54	39	improvement	improvement	NOUN
fbem-10897	54	40	of	of	ADP
fbem-10897	54	41	water	water	NOUN
fbem-10897	54	42	resources	resource	NOUN
fbem-10897	54	43	utilization	utilization	NOUN
fbem-10897	54	44	efficiency	efficiency	NOUN
fbem-10897	54	45	.	.	PUNCT
fbem-10897	55	1	in	in	ADP
fbem-10897	55	2	terms	term	NOUN
fbem-10897	55	3	of	of	ADP
fbem-10897	55	4	energy	energy	NOUN
fbem-10897	55	5	management	management	NOUN
fbem-10897	55	6	,	,	PUNCT
fbem-10897	55	7	proya	proya	PROPN
fbem-10897	55	8	has	have	AUX
fbem-10897	55	9	formulated	formulate	VERB
fbem-10897	55	10	energy	energy	NOUN
fbem-10897	55	11	management	management	NOUN
fbem-10897	55	12	systems	system	NOUN
fbem-10897	55	13	such	such	ADJ
fbem-10897	55	14	as	as	ADP
fbem-10897	55	15	"	"	PUNCT
fbem-10897	55	16	power	power	NOUN
fbem-10897	55	17	saving	saving	NOUN
fbem-10897	55	18	management	management	NOUN
fbem-10897	55	19	system	system	NOUN
fbem-10897	55	20	"	"	PUNCT
fbem-10897	55	21	and	and	CCONJ
fbem-10897	55	22	"	"	PUNCT
fbem-10897	55	23	natural	natural	ADJ
fbem-10897	55	24	gas	gas	NOUN
fbem-10897	55	25	leak	leak	NOUN
fbem-10897	55	26	emergency	emergency	NOUN
fbem-10897	55	27	plan	plan	NOUN
fbem-10897	55	28	"	"	PUNCT
fbem-10897	55	29	,	,	PUNCT
fbem-10897	55	30	and	and	CCONJ
fbem-10897	55	31	continuously	continuously	ADV
fbem-10897	55	32	improved	improve	VERB
fbem-10897	55	33	energy	energy	NOUN
fbem-10897	55	34	use	use	NOUN
fbem-10897	55	35	efficiency	efficiency	NOUN
fbem-10897	55	36	and	and	CCONJ
fbem-10897	55	37	optimized	optimize	VERB
fbem-10897	55	38	the	the	DET
fbem-10897	55	39	energy	energy	NOUN
fbem-10897	55	40	use	use	NOUN
fbem-10897	55	41	structure	structure	NOUN
fbem-10897	55	42	.	.	PUNCT
fbem-10897	56	1	in	in	ADP
fbem-10897	56	2	2022	2022	NUM
fbem-10897	56	3	,	,	PUNCT
fbem-10897	56	4	the	the	DET
fbem-10897	56	5	company	company	NOUN
fbem-10897	56	6	's	's	PART
fbem-10897	56	7	energy	energy	NOUN
fbem-10897	56	8	consumption	consumption	NOUN
fbem-10897	56	9	of	of	ADP
fbem-10897	56	10	10,000	10,000	NUM
fbem-10897	56	11	yuan	yuan	NOUN
fbem-10897	56	12	of	of	ADP
fbem-10897	56	13	revenue	revenue	NOUN
fbem-10897	56	14	is	be	AUX
fbem-10897	56	15	32.65	32.65	NUM
fbem-10897	56	16	,	,	PUNCT
fbem-10897	56	17	kwh	kwh	PROPN
fbem-10897	56	18	,	,	PUNCT
fbem-10897	56	19	down	down	ADV
fbem-10897	56	20	18.20	18.20	NUM
fbem-10897	56	21	%	%	NOUN
fbem-10897	56	22	compared	compare	VERB
fbem-10897	56	23	with	with	ADP
fbem-10897	56	24	2021	2021	NUM
fbem-10897	56	25	.	.	PUNCT
fbem-10897	57	1	in	in	ADP
fbem-10897	57	2	terms	term	NOUN
fbem-10897	57	3	of	of	ADP
fbem-10897	57	4	green	green	ADJ
fbem-10897	57	5	packaging	packaging	NOUN
fbem-10897	57	6	,	,	PUNCT
fbem-10897	57	7	proya	proya	NOUN
fbem-10897	57	8	set	set	VERB
fbem-10897	57	9	up	up	ADP
fbem-10897	57	10	a	a	DET
fbem-10897	57	11	green	green	ADJ
fbem-10897	57	12	packaging	packaging	NOUN
fbem-10897	57	13	group	group	NOUN
fbem-10897	57	14	to	to	PART
fbem-10897	57	15	further	far	ADV
fbem-10897	57	16	expand	expand	VERB
fbem-10897	57	17	the	the	DET
fbem-10897	57	18	application	application	NOUN
fbem-10897	57	19	scope	scope	NOUN
fbem-10897	57	20	and	and	CCONJ
fbem-10897	57	21	scale	scale	NOUN
fbem-10897	57	22	of	of	ADP
fbem-10897	57	23	green	green	ADJ
fbem-10897	57	24	packaging	packaging	NOUN
fbem-10897	57	25	in	in	ADP
fbem-10897	57	26	the	the	DET
fbem-10897	57	27	company	company	NOUN
fbem-10897	57	28	,	,	PUNCT
fbem-10897	57	29	and	and	CCONJ
fbem-10897	57	30	explore	explore	VERB
fbem-10897	57	31	more	more	ADJ
fbem-10897	57	32	green	green	ADJ
fbem-10897	57	33	packaging	packaging	NOUN
fbem-10897	57	34	solutions	solution	NOUN
fbem-10897	57	35	based	base	VERB
fbem-10897	57	36	on	on	ADP
fbem-10897	57	37	the	the	DET
fbem-10897	57	38	existing	exist	VERB
fbem-10897	57	39	practice	practice	NOUN
fbem-10897	57	40	,	,	PUNCT
fbem-10897	57	41	to	to	PART
fbem-10897	57	42	build	build	VERB
fbem-10897	57	43	a	a	DET
fbem-10897	57	44	comprehensive	comprehensive	ADJ
fbem-10897	57	45	and	and	CCONJ
fbem-10897	57	46	perfect	perfect	ADJ
fbem-10897	57	47	green	green	ADJ
fbem-10897	57	48	packaging	packaging	NOUN
fbem-10897	57	49	management	management	NOUN
fbem-10897	57	50	system	system	NOUN
fbem-10897	57	51	.	.	PUNCT
fbem-10897	58	1	proya	proya	PROPN
fbem-10897	58	2	attaches	attach	VERB
fbem-10897	58	3	great	great	ADJ
fbem-10897	58	4	importance	importance	NOUN
fbem-10897	58	5	to	to	ADP
fbem-10897	58	6	tackling	tackle	VERB
fbem-10897	58	7	climate	climate	NOUN
fbem-10897	58	8	change	change	NOUN
fbem-10897	58	9	and	and	CCONJ
fbem-10897	58	10	includes	include	VERB
fbem-10897	58	11	it	it	PRON
fbem-10897	58	12	in	in	ADP
fbem-10897	58	13	one	one	NUM
fbem-10897	58	14	of	of	ADP
fbem-10897	58	15	the	the	DET
fbem-10897	58	16	company	company	NOUN
fbem-10897	58	17	's	's	PART
fbem-10897	58	18	esg	esg	PROPN
fbem-10897	58	19	150	150	NUM
fbem-10897	58	20	management	management	NOUN
fbem-10897	58	21	issues	issue	NOUN
fbem-10897	58	22	.	.	PUNCT
fbem-10897	59	1	the	the	DET
fbem-10897	59	2	board	board	NOUN
fbem-10897	59	3	of	of	ADP
fbem-10897	59	4	directors	director	NOUN
fbem-10897	59	5	is	be	AUX
fbem-10897	59	6	responsible	responsible	ADJ
fbem-10897	59	7	for	for	ADP
fbem-10897	59	8	overseeing	oversee	VERB
fbem-10897	59	9	and	and	CCONJ
fbem-10897	59	10	managing	manage	VERB
fbem-10897	59	11	the	the	DET
fbem-10897	59	12	company	company	NOUN
fbem-10897	59	13	's	's	PART
fbem-10897	59	14	esg	esg	NOUN
fbem-10897	59	15	issues	issue	NOUN
fbem-10897	59	16	,	,	PUNCT
fbem-10897	59	17	including	include	VERB
fbem-10897	59	18	climate	climate	NOUN
fbem-10897	59	19	change	change	NOUN
fbem-10897	59	20	issues	issue	NOUN
fbem-10897	59	21	,	,	PUNCT
fbem-10897	59	22	and	and	CCONJ
fbem-10897	59	23	the	the	DET
fbem-10897	59	24	relevant	relevant	ADJ
fbem-10897	59	25	functions	function	NOUN
fbem-10897	59	26	and	and	CCONJ
fbem-10897	59	27	business	business	NOUN
fbem-10897	59	28	departments	department	NOUN
fbem-10897	59	29	also	also	ADV
fbem-10897	59	30	focus	focus	VERB
fbem-10897	59	31	climate	climate	NOUN
fbem-10897	59	32	change	change	NOUN
fbem-10897	59	33	management	management	NOUN
fbem-10897	59	34	on	on	ADP
fbem-10897	59	35	a	a	DET
fbem-10897	59	36	day	day	NOUN
fbem-10897	59	37	-	-	PUNCT
fbem-10897	59	38	to	to	ADP
fbem-10897	59	39	-	-	PUNCT
fbem-10897	59	40	day	day	NOUN
fbem-10897	59	41	basis	basis	NOUN
fbem-10897	59	42	.	.	PUNCT
fbem-10897	60	1	every	every	DET
fbem-10897	60	2	year	year	NOUN
fbem-10897	60	3	,	,	PUNCT
fbem-10897	60	4	the	the	DET
fbem-10897	60	5	company	company	NOUN
fbem-10897	60	6	will	will	AUX
fbem-10897	60	7	count	count	VERB
fbem-10897	60	8	and	and	CCONJ
fbem-10897	60	9	quantitatively	quantitatively	ADV
fbem-10897	60	10	disclose	disclose	VERB
fbem-10897	60	11	the	the	DET
fbem-10897	60	12	data	datum	NOUN
fbem-10897	60	13	related	relate	VERB
fbem-10897	60	14	to	to	ADP
fbem-10897	60	15	climate	climate	NOUN
fbem-10897	60	16	change	change	NOUN
fbem-10897	60	17	,	,	PUNCT
fbem-10897	60	18	such	such	ADJ
fbem-10897	60	19	as	as	ADP
fbem-10897	60	20	greenhouse	greenhouse	NOUN
fbem-10897	60	21	gas	gas	NOUN
fbem-10897	60	22	emissions	emission	NOUN
fbem-10897	60	23	,	,	PUNCT
fbem-10897	60	24	and	and	CCONJ
fbem-10897	60	25	reasonably	reasonably	ADV
fbem-10897	60	26	evaluate	evaluate	VERB
fbem-10897	60	27	the	the	DET
fbem-10897	60	28	company	company	NOUN
fbem-10897	60	29	's	's	PART
fbem-10897	60	30	performance	performance	NOUN
fbem-10897	60	31	and	and	CCONJ
fbem-10897	60	32	management	management	NOUN
fbem-10897	60	33	level	level	NOUN
fbem-10897	60	34	in	in	ADP
fbem-10897	60	35	response	response	NOUN
fbem-10897	60	36	to	to	ADP
fbem-10897	60	37	climate	climate	NOUN
fbem-10897	60	38	change	change	NOUN
fbem-10897	60	39	.	.	PUNCT
fbem-10897	61	1	3.3.2	3.3.2	X
fbem-10897	61	2	.	.	PUNCT
fbem-10897	61	3	current	current	ADJ
fbem-10897	61	4	situation	situation	NOUN
fbem-10897	61	5	of	of	ADP
fbem-10897	61	6	social	social	ADJ
fbem-10897	61	7	responsibility	responsibility	NOUN
fbem-10897	61	8	of	of	ADP
fbem-10897	61	9	proya	proya	NOUN
fbem-10897	61	10	in	in	ADP
fbem-10897	61	11	terms	term	NOUN
fbem-10897	61	12	of	of	ADP
fbem-10897	61	13	product	product	NOUN
fbem-10897	61	14	and	and	CCONJ
fbem-10897	61	15	customer	customer	NOUN
fbem-10897	61	16	responsibility	responsibility	NOUN
fbem-10897	61	17	,	,	PUNCT
fbem-10897	61	18	pearl	pearl	NOUN
fbem-10897	61	19	elegant	elegant	ADJ
fbem-10897	61	20	force	force	NOUN
fbem-10897	61	21	through	through	ADP
fbem-10897	61	22	innovation	innovation	NOUN
fbem-10897	61	23	research	research	NOUN
fbem-10897	61	24	and	and	CCONJ
fbem-10897	61	25	development	development	NOUN
fbem-10897	61	26	to	to	PART
fbem-10897	61	27	build	build	VERB
fbem-10897	61	28	and	and	CCONJ
fbem-10897	61	29	maintain	maintain	VERB
fbem-10897	61	30	its	its	PRON
fbem-10897	61	31	core	core	NOUN
fbem-10897	61	32	competitiveness	competitiveness	NOUN
fbem-10897	61	33	,	,	PUNCT
fbem-10897	61	34	pearl	pearl	NOUN
fbem-10897	61	35	,	,	PUNCT
fbem-10897	61	36	always	always	ADV
fbem-10897	61	37	adhering	adhere	VERB
fbem-10897	61	38	to	to	ADP
fbem-10897	61	39	the	the	DET
fbem-10897	61	40	"	"	PUNCT
fbem-10897	61	41	consumer	consumer	NOUN
fbem-10897	61	42	-	-	PUNCT
fbem-10897	61	43	centered	center	VERB
fbem-10897	61	44	"	"	PUNCT
fbem-10897	61	45	concept	concept	NOUN
fbem-10897	61	46	,	,	PUNCT
fbem-10897	61	47	the	the	DET
fbem-10897	61	48	consumer	consumer	NOUN
fbem-10897	61	49	demand	demand	NOUN
fbem-10897	61	50	at	at	ADP
fbem-10897	61	51	the	the	DET
fbem-10897	61	52	core	core	NOUN
fbem-10897	61	53	of	of	ADP
fbem-10897	61	54	product	product	NOUN
fbem-10897	61	55	research	research	NOUN
fbem-10897	61	56	and	and	CCONJ
fbem-10897	61	57	development	development	NOUN
fbem-10897	61	58	,	,	PUNCT
fbem-10897	61	59	with	with	ADP
fbem-10897	61	60	the	the	DET
fbem-10897	61	61	help	help	NOUN
fbem-10897	61	62	of	of	ADP
fbem-10897	61	63	skin	skin	NOUN
fbem-10897	61	64	science	science	NOUN
fbem-10897	61	65	research	research	NOUN
fbem-10897	61	66	basis	basis	NOUN
fbem-10897	61	67	,	,	PUNCT
fbem-10897	61	68	pearl	pearl	NOUN
fbem-10897	61	69	,	,	PUNCT
fbem-10897	61	70	deep	deep	ADJ
fbem-10897	61	71	understanding	understanding	NOUN
fbem-10897	61	72	of	of	ADP
fbem-10897	61	73	consumer	consumer	NOUN
fbem-10897	61	74	demand	demand	NOUN
fbem-10897	61	75	,	,	PUNCT
fbem-10897	61	76	through	through	ADP
fbem-10897	61	77	the	the	DET
fbem-10897	61	78	depth	depth	NOUN
fbem-10897	61	79	of	of	ADP
fbem-10897	61	80	technology	technology	NOUN
fbem-10897	61	81	and	and	CCONJ
fbem-10897	61	82	demand	demand	NOUN
fbem-10897	61	83	fusion	fusion	NOUN
fbem-10897	61	84	,	,	PUNCT
fbem-10897	61	85	production	production	NOUN
fbem-10897	61	86	highly	highly	ADV
fbem-10897	61	87	fit	fit	ADJ
fbem-10897	61	88	product	product	NOUN
fbem-10897	61	89	of	of	ADP
fbem-10897	61	90	consumer	consumer	NOUN
fbem-10897	61	91	demand	demand	NOUN
fbem-10897	61	92	.	.	PUNCT
fbem-10897	62	1	in	in	ADP
fbem-10897	62	2	order	order	NOUN
fbem-10897	62	3	to	to	PART
fbem-10897	62	4	maintain	maintain	VERB
fbem-10897	62	5	its	its	PRON
fbem-10897	62	6	leadership	leadership	NOUN
fbem-10897	62	7	in	in	ADP
fbem-10897	62	8	technological	technological	ADJ
fbem-10897	62	9	innovation	innovation	NOUN
fbem-10897	62	10	,	,	PUNCT
fbem-10897	62	11	proya	proya	NOUN
fbem-10897	62	12	has	have	VERB
fbem-10897	62	13	229	229	NUM
fbem-10897	62	14	researchers	researcher	NOUN
fbem-10897	62	15	as	as	ADP
fbem-10897	62	16	of	of	ADP
fbem-10897	62	17	2022	2022	NUM
fbem-10897	62	18	.	.	PUNCT
fbem-10897	63	1	in	in	ADP
fbem-10897	63	2	the	the	DET
fbem-10897	63	3	field	field	NOUN
fbem-10897	63	4	of	of	ADP
fbem-10897	63	5	science	science	NOUN
fbem-10897	63	6	and	and	CCONJ
fbem-10897	63	7	technological	technological	ADJ
fbem-10897	63	8	innovation	innovation	NOUN
fbem-10897	63	9	has	have	AUX
fbem-10897	63	10	made	make	VERB
fbem-10897	63	11	remarkable	remarkable	ADJ
fbem-10897	63	12	achievements	achievement	NOUN
fbem-10897	63	13	,	,	PUNCT
fbem-10897	63	14	the	the	DET
fbem-10897	63	15	company	company	NOUN
fbem-10897	63	16	has	have	AUX
fbem-10897	63	17	obtained	obtain	VERB
fbem-10897	63	18	15	15	NUM
fbem-10897	63	19	authorized	authorize	VERB
fbem-10897	63	20	invention	invention	NOUN
fbem-10897	63	21	patents	patent	NOUN
fbem-10897	63	22	,	,	PUNCT
fbem-10897	63	23	and	and	CCONJ
fbem-10897	63	24	successfully	successfully	ADV
fbem-10897	63	25	developed	develop	VERB
fbem-10897	63	26	many	many	ADJ
fbem-10897	63	27	exclusive	exclusive	ADJ
fbem-10897	63	28	raw	raw	ADJ
fbem-10897	63	29	materials	material	NOUN
fbem-10897	63	30	,	,	PUNCT
fbem-10897	63	31	such	such	ADJ
fbem-10897	63	32	as	as	ADP
fbem-10897	63	33	ultramolecular	ultramolecular	ADJ
fbem-10897	63	34	a	a	DET
fbem-10897	63	35	alcohol	alcohol	NOUN
fbem-10897	63	36	,	,	PUNCT
fbem-10897	63	37	multiple	multiple	ADJ
fbem-10897	63	38	molecular	molecular	ADJ
fbem-10897	63	39	nail	nail	NOUN
fbem-10897	63	40	,	,	PUNCT
fbem-10897	63	41	package	package	NOUN
fbem-10897	63	42	with	with	ADP
fbem-10897	63	43	quercetin	quercetin	NOUN
fbem-10897	63	44	,	,	PUNCT
fbem-10897	63	45	sugar	sugar	NOUN
fbem-10897	63	46	,	,	PUNCT
fbem-10897	63	47	anti	anti	ADJ
fbem-10897	63	48	black	black	ADJ
fbem-10897	63	49	lipid	lipid	NOUN
fbem-10897	63	50	,	,	PUNCT
fbem-10897	63	51	microbe	microbe	NOUN
fbem-10897	63	52	defender	defender	NOUN
fbem-10897	63	53	,	,	PUNCT
fbem-10897	63	54	etc	etc	X
fbem-10897	63	55	.	.	X
fbem-10897	63	56	,	,	PUNCT
fbem-10897	63	57	the	the	DET
fbem-10897	63	58	birth	birth	NOUN
fbem-10897	63	59	of	of	ADP
fbem-10897	63	60	these	these	DET
fbem-10897	63	61	innovations	innovation	NOUN
fbem-10897	63	62	,	,	PUNCT
fbem-10897	63	63	not	not	PART
fbem-10897	63	64	only	only	ADV
fbem-10897	63	65	brought	bring	VERB
fbem-10897	63	66	competitive	competitive	ADJ
fbem-10897	63	67	advantage	advantage	NOUN
fbem-10897	63	68	for	for	ADP
fbem-10897	63	69	the	the	DET
fbem-10897	63	70	company	company	NOUN
fbem-10897	63	71	,	,	PUNCT
fbem-10897	63	72	also	also	ADV
fbem-10897	63	73	promoted	promote	VERB
fbem-10897	63	74	the	the	DET
fbem-10897	63	75	pearl	pearl	NOUN
fbem-10897	63	76	elegant	elegant	ADJ
fbem-10897	63	77	product	product	NOUN
fbem-10897	63	78	line	line	NOUN
fbem-10897	63	79	expansion	expansion	NOUN
fbem-10897	63	80	and	and	CCONJ
fbem-10897	63	81	diversification	diversification	NOUN
fbem-10897	63	82	.	.	PUNCT
fbem-10897	64	1	through	through	ADP
fbem-10897	64	2	continuous	continuous	ADJ
fbem-10897	64	3	technological	technological	ADJ
fbem-10897	64	4	innovation	innovation	NOUN
fbem-10897	64	5	and	and	CCONJ
fbem-10897	64	6	high	high	ADJ
fbem-10897	64	7	-	-	PUNCT
fbem-10897	64	8	quality	quality	NOUN
fbem-10897	64	9	research	research	NOUN
fbem-10897	64	10	and	and	CCONJ
fbem-10897	64	11	development	development	NOUN
fbem-10897	64	12	work	work	NOUN
fbem-10897	64	13	,	,	PUNCT
fbem-10897	64	14	proya	proya	PROPN
fbem-10897	64	15	has	have	AUX
fbem-10897	64	16	successfully	successfully	ADV
fbem-10897	64	17	launched	launch	VERB
fbem-10897	64	18	75	75	NUM
fbem-10897	64	19	new	new	ADJ
fbem-10897	64	20	products	product	NOUN
fbem-10897	64	21	.	.	PUNCT
fbem-10897	65	1	the	the	DET
fbem-10897	65	2	launch	launch	NOUN
fbem-10897	65	3	of	of	ADP
fbem-10897	65	4	these	these	DET
fbem-10897	65	5	new	new	ADJ
fbem-10897	65	6	products	product	NOUN
fbem-10897	65	7	not	not	PART
fbem-10897	65	8	only	only	ADV
fbem-10897	65	9	meets	meet	VERB
fbem-10897	65	10	the	the	DET
fbem-10897	65	11	changing	change	VERB
fbem-10897	65	12	needs	need	NOUN
fbem-10897	65	13	of	of	ADP
fbem-10897	65	14	consumers	consumer	NOUN
fbem-10897	65	15	,	,	PUNCT
fbem-10897	65	16	but	but	CCONJ
fbem-10897	65	17	also	also	ADV
fbem-10897	65	18	enhances	enhance	VERB
fbem-10897	65	19	the	the	DET
fbem-10897	65	20	influence	influence	NOUN
fbem-10897	65	21	and	and	CCONJ
fbem-10897	65	22	competitiveness	competitiveness	NOUN
fbem-10897	65	23	of	of	ADP
fbem-10897	65	24	the	the	DET
fbem-10897	65	25	pearl	pearl	NOUN
fbem-10897	65	26	ya	ya	PROPN
fbem-10897	65	27	brand	brand	NOUN
fbem-10897	65	28	in	in	ADP
fbem-10897	65	29	the	the	DET
fbem-10897	65	30	market	market	NOUN
fbem-10897	65	31	.	.	PUNCT
fbem-10897	66	1	chemical	chemical	NOUN
fbem-10897	66	2	safety	safety	NOUN
fbem-10897	66	3	,	,	PUNCT
fbem-10897	66	4	pearl	pearl	NOUN
fbem-10897	66	5	,	,	PUNCT
fbem-10897	66	6	strictly	strictly	ADV
fbem-10897	66	7	abide	abide	VERB
fbem-10897	66	8	by	by	ADP
fbem-10897	66	9	the	the	DET
fbem-10897	66	10	requirements	requirement	NOUN
fbem-10897	66	11	of	of	ADP
fbem-10897	66	12	the	the	DET
fbem-10897	66	13	relevant	relevant	ADJ
fbem-10897	66	14	laws	law	NOUN
fbem-10897	66	15	and	and	CCONJ
fbem-10897	66	16	regulations	regulation	NOUN
fbem-10897	66	17	,	,	PUNCT
fbem-10897	66	18	do	do	AUX
fbem-10897	66	19	not	not	PART
fbem-10897	66	20	use	use	VERB
fbem-10897	66	21	any	any	DET
fbem-10897	66	22	banned	ban	VERB
fbem-10897	66	23	ingredients	ingredient	NOUN
fbem-10897	66	24	,	,	PUNCT
fbem-10897	66	25	including	include	VERB
fbem-10897	66	26	but	but	CCONJ
fbem-10897	66	27	not	not	PART
fbem-10897	66	28	limited	limit	VERB
fbem-10897	66	29	to	to	ADP
fbem-10897	66	30	the	the	DET
fbem-10897	66	31	catalog	catalog	NOUN
fbem-10897	66	32	of	of	ADP
fbem-10897	66	33	cosmetics	cosmetic	NOUN
fbem-10897	66	34	banned	ban	VERB
fbem-10897	66	35	plant	plant	NOUN
fbem-10897	66	36	(	(	PUNCT
fbem-10897	66	37	dynamic	dynamic	ADJ
fbem-10897	66	38	)	)	PUNCT
fbem-10897	66	39	cosmetic	cosmetic	ADJ
fbem-10897	66	40	raw	raw	ADJ
fbem-10897	66	41	material	material	NOUN
fbem-10897	66	42	target	target	NOUN
fbem-10897	66	43	in	in	ADP
fbem-10897	66	44	more	more	ADJ
fbem-10897	66	45	than	than	ADP
fbem-10897	66	46	2000	2000	NUM
fbem-10897	66	47	kinds	kind	NOUN
fbem-10897	66	48	of	of	ADP
fbem-10897	66	49	banned	ban	VERB
fbem-10897	66	50	ingredients	ingredient	NOUN
fbem-10897	66	51	,	,	PUNCT
fbem-10897	66	52	such	such	ADJ
fbem-10897	66	53	as	as	ADP
fbem-10897	66	54	hydroquinone	hydroquinone	NOUN
fbem-10897	66	55	,	,	PUNCT
fbem-10897	66	56	phenol	phenol	NOUN
fbem-10897	66	57	,	,	PUNCT
fbem-10897	66	58	retinoic	retinoic	ADJ
fbem-10897	66	59	acid	acid	PROPN
fbem-10897	66	60	(	(	PUNCT
fbem-10897	66	61	retinic	retinic	ADJ
fbem-10897	66	62	acid	acid	NOUN
fbem-10897	66	63	)	)	PUNCT
fbem-10897	66	64	and	and	CCONJ
fbem-10897	66	65	salt	salt	NOUN
fbem-10897	66	66	,	,	PUNCT
fbem-10897	66	67	corticosteroids	corticosteroid	NOUN
fbem-10897	66	68	,	,	PUNCT
fbem-10897	66	69	antibiotics	antibiotic	NOUN
fbem-10897	66	70	,	,	PUNCT
fbem-10897	66	71	etc	etc	X
fbem-10897	66	72	.	.	X
fbem-10897	66	73	in	in	ADP
fbem-10897	66	74	terms	term	NOUN
fbem-10897	66	75	of	of	ADP
fbem-10897	66	76	consumer	consumer	NOUN
fbem-10897	66	77	services	service	NOUN
fbem-10897	66	78	and	and	CCONJ
fbem-10897	66	79	rights	right	NOUN
fbem-10897	66	80	protection	protection	NOUN
fbem-10897	66	81	,	,	PUNCT
fbem-10897	66	82	proya	proya	NOUN
fbem-10897	66	83	always	always	ADV
fbem-10897	66	84	puts	put	VERB
fbem-10897	66	85	the	the	DET
fbem-10897	66	86	interests	interest	NOUN
fbem-10897	66	87	of	of	ADP
fbem-10897	66	88	consumers	consumer	NOUN
fbem-10897	66	89	first	first	ADV
fbem-10897	66	90	,	,	PUNCT
fbem-10897	66	91	and	and	CCONJ
fbem-10897	66	92	is	be	AUX
fbem-10897	66	93	not	not	PART
fbem-10897	66	94	only	only	ADV
fbem-10897	66	95	committed	commit	VERB
fbem-10897	66	96	to	to	ADP
fbem-10897	66	97	providing	provide	VERB
fbem-10897	66	98	high	high	ADJ
fbem-10897	66	99	-	-	PUNCT
fbem-10897	66	100	quality	quality	NOUN
fbem-10897	66	101	products	product	NOUN
fbem-10897	66	102	and	and	CCONJ
fbem-10897	66	103	services	service	NOUN
fbem-10897	66	104	,	,	PUNCT
fbem-10897	66	105	but	but	CCONJ
fbem-10897	66	106	also	also	ADV
fbem-10897	66	107	actively	actively	ADV
fbem-10897	66	108	protects	protect	VERB
fbem-10897	66	109	the	the	DET
fbem-10897	66	110	rights	right	NOUN
fbem-10897	66	111	and	and	CCONJ
fbem-10897	66	112	interests	interest	NOUN
fbem-10897	66	113	of	of	ADP
fbem-10897	66	114	consumers	consumer	NOUN
fbem-10897	66	115	.	.	PUNCT
fbem-10897	67	1	through	through	ADP
fbem-10897	67	2	the	the	DET
fbem-10897	67	3	establishment	establishment	NOUN
fbem-10897	67	4	of	of	ADP
fbem-10897	67	5	smooth	smooth	ADJ
fbem-10897	67	6	online	online	ADJ
fbem-10897	67	7	and	and	CCONJ
fbem-10897	67	8	offline	offline	ADJ
fbem-10897	67	9	consumer	consumer	NOUN
fbem-10897	67	10	service	service	NOUN
fbem-10897	67	11	channels	channel	NOUN
fbem-10897	67	12	,	,	PUNCT
fbem-10897	67	13	regular	regular	ADJ
fbem-10897	67	14	staff	staff	NOUN
fbem-10897	67	15	training	training	NOUN
fbem-10897	67	16	,	,	PUNCT
fbem-10897	67	17	and	and	CCONJ
fbem-10897	67	18	consumer	consumer	NOUN
fbem-10897	67	19	satisfaction	satisfaction	NOUN
fbem-10897	67	20	survey	survey	NOUN
fbem-10897	67	21	,	,	PUNCT
fbem-10897	67	22	proya	proya	NOUN
fbem-10897	67	23	provides	provide	VERB
fbem-10897	67	24	consumers	consumer	NOUN
fbem-10897	67	25	with	with	ADP
fbem-10897	67	26	a	a	DET
fbem-10897	67	27	full	full	ADJ
fbem-10897	67	28	range	range	NOUN
fbem-10897	67	29	of	of	ADP
fbem-10897	67	30	services	service	NOUN
fbem-10897	67	31	and	and	CCONJ
fbem-10897	67	32	guarantee	guarantee	NOUN
fbem-10897	67	33	.	.	PUNCT
fbem-10897	68	1	consumers	consumer	NOUN
fbem-10897	68	2	can	can	AUX
fbem-10897	68	3	rest	rest	VERB
fbem-10897	68	4	assured	assure	VERB
fbem-10897	68	5	to	to	PART
fbem-10897	68	6	buy	buy	VERB
fbem-10897	68	7	the	the	DET
fbem-10897	68	8	products	product	NOUN
fbem-10897	68	9	and	and	CCONJ
fbem-10897	68	10	enjoy	enjoy	VERB
fbem-10897	68	11	high	high	ADJ
fbem-10897	68	12	-	-	PUNCT
fbem-10897	68	13	quality	quality	NOUN
fbem-10897	68	14	presale	presale	NOUN
fbem-10897	68	15	consultation	consultation	NOUN
fbem-10897	68	16	,	,	PUNCT
fbem-10897	68	17	in	in	ADP
fbem-10897	68	18	-	-	PUNCT
fbem-10897	68	19	sale	sale	NOUN
fbem-10897	68	20	service	service	NOUN
fbem-10897	68	21	and	and	CCONJ
fbem-10897	68	22	after	after	ADP
fbem-10897	68	23	-	-	PUNCT
fbem-10897	68	24	sales	sale	NOUN
fbem-10897	68	25	support	support	NOUN
fbem-10897	68	26	to	to	PART
fbem-10897	68	27	ensure	ensure	VERB
fbem-10897	68	28	that	that	SCONJ
fbem-10897	68	29	their	their	PRON
fbem-10897	68	30	consumption	consumption	NOUN
fbem-10897	68	31	experience	experience	NOUN
fbem-10897	68	32	is	be	AUX
fbem-10897	68	33	consistently	consistently	ADV
fbem-10897	68	34	satisfactory	satisfactory	ADJ
fbem-10897	68	35	.	.	PUNCT
fbem-10897	69	1	in	in	ADP
fbem-10897	69	2	terms	term	NOUN
fbem-10897	69	3	of	of	ADP
fbem-10897	69	4	supply	supply	NOUN
fbem-10897	69	5	chain	chain	NOUN
fbem-10897	69	6	responsibility	responsibility	NOUN
fbem-10897	69	7	,	,	PUNCT
fbem-10897	69	8	the	the	DET
fbem-10897	69	9	company	company	NOUN
fbem-10897	69	10	has	have	AUX
fbem-10897	69	11	established	establish	VERB
fbem-10897	69	12	a	a	DET
fbem-10897	69	13	series	series	NOUN
fbem-10897	69	14	of	of	ADP
fbem-10897	69	15	management	management	NOUN
fbem-10897	69	16	documents	document	NOUN
fbem-10897	69	17	,	,	PUNCT
fbem-10897	69	18	including	include	VERB
fbem-10897	69	19	supplier	supplier	NOUN
fbem-10897	69	20	management	management	NOUN
fbem-10897	69	21	system	system	NOUN
fbem-10897	69	22	and	and	CCONJ
fbem-10897	69	23	new	new	ADJ
fbem-10897	69	24	supplier	supplier	NOUN
fbem-10897	69	25	development	development	NOUN
fbem-10897	69	26	management	management	NOUN
fbem-10897	69	27	system	system	NOUN
fbem-10897	69	28	for	for	ADP
fbem-10897	69	29	production	production	NOUN
fbem-10897	69	30	materials	material	NOUN
fbem-10897	69	31	,	,	PUNCT
fbem-10897	69	32	to	to	PART
fbem-10897	69	33	standardize	standardize	VERB
fbem-10897	69	34	all	all	DET
fbem-10897	69	35	links	link	NOUN
fbem-10897	69	36	of	of	ADP
fbem-10897	69	37	the	the	DET
fbem-10897	69	38	supply	supply	NOUN
fbem-10897	69	39	chain	chain	NOUN
fbem-10897	69	40	.	.	PUNCT
fbem-10897	70	1	in	in	ADP
fbem-10897	70	2	addition	addition	NOUN
fbem-10897	70	3	to	to	ADP
fbem-10897	70	4	the	the	DET
fbem-10897	70	5	strict	strict	ADJ
fbem-10897	70	6	inspection	inspection	NOUN
fbem-10897	70	7	and	and	CCONJ
fbem-10897	70	8	selection	selection	NOUN
fbem-10897	70	9	of	of	ADP
fbem-10897	70	10	suppliers	supplier	NOUN
fbem-10897	70	11	in	in	ADP
fbem-10897	70	12	the	the	DET
fbem-10897	70	13	access	access	NOUN
fbem-10897	70	14	link	link	NOUN
fbem-10897	70	15	,	,	PUNCT
fbem-10897	70	16	proya	proya	PROPN
fbem-10897	70	17	will	will	AUX
fbem-10897	70	18	also	also	ADV
fbem-10897	70	19	regularly	regularly	ADV
fbem-10897	70	20	assess	assess	VERB
fbem-10897	70	21	and	and	CCONJ
fbem-10897	70	22	evaluate	evaluate	VERB
fbem-10897	70	23	the	the	DET
fbem-10897	70	24	suppliers	supplier	NOUN
fbem-10897	70	25	in	in	ADP
fbem-10897	70	26	cooperation	cooperation	NOUN
fbem-10897	70	27	with	with	ADP
fbem-10897	70	28	the	the	DET
fbem-10897	70	29	company	company	NOUN
fbem-10897	70	30	.	.	PUNCT
fbem-10897	71	1	in	in	ADP
fbem-10897	71	2	addition	addition	NOUN
fbem-10897	71	3	,	,	PUNCT
fbem-10897	71	4	the	the	DET
fbem-10897	71	5	company	company	NOUN
fbem-10897	71	6	also	also	ADV
fbem-10897	71	7	pays	pay	VERB
fbem-10897	71	8	attention	attention	NOUN
fbem-10897	71	9	to	to	ADP
fbem-10897	71	10	the	the	DET
fbem-10897	71	11	supervision	supervision	NOUN
fbem-10897	71	12	and	and	CCONJ
fbem-10897	71	13	review	review	NOUN
fbem-10897	71	14	work	work	NOUN
fbem-10897	71	15	in	in	ADP
fbem-10897	71	16	the	the	DET
fbem-10897	71	17	supply	supply	NOUN
fbem-10897	71	18	chain	chain	NOUN
fbem-10897	71	19	management	management	NOUN
fbem-10897	71	20	to	to	PART
fbem-10897	71	21	ensure	ensure	VERB
fbem-10897	71	22	the	the	DET
fbem-10897	71	23	transparency	transparency	NOUN
fbem-10897	71	24	and	and	CCONJ
fbem-10897	71	25	responsibility	responsibility	NOUN
fbem-10897	71	26	of	of	ADP
fbem-10897	71	27	the	the	DET
fbem-10897	71	28	supply	supply	NOUN
fbem-10897	71	29	chain	chain	NOUN
fbem-10897	71	30	.	.	PUNCT
fbem-10897	72	1	at	at	ADP
fbem-10897	72	2	the	the	DET
fbem-10897	72	3	same	same	ADJ
fbem-10897	72	4	time	time	NOUN
fbem-10897	72	5	,	,	PUNCT
fbem-10897	72	6	it	it	PRON
fbem-10897	72	7	has	have	AUX
fbem-10897	72	8	set	set	VERB
fbem-10897	72	9	the	the	DET
fbem-10897	72	10	sustainable	sustainable	ADJ
fbem-10897	72	11	transformation	transformation	NOUN
fbem-10897	72	12	goal	goal	NOUN
fbem-10897	72	13	of	of	ADP
fbem-10897	72	14	the	the	DET
fbem-10897	72	15	whole	whole	ADJ
fbem-10897	72	16	value	value	NOUN
fbem-10897	72	17	chain	chain	NOUN
fbem-10897	72	18	for	for	ADP
fbem-10897	72	19	2025	2025	NUM
fbem-10897	72	20	,	,	PUNCT
fbem-10897	72	21	aiming	aim	VERB
fbem-10897	72	22	to	to	PART
fbem-10897	72	23	improve	improve	VERB
fbem-10897	72	24	the	the	DET
fbem-10897	72	25	sustainable	sustainable	ADJ
fbem-10897	72	26	attribute	attribute	NOUN
fbem-10897	72	27	of	of	ADP
fbem-10897	72	28	the	the	DET
fbem-10897	72	29	whole	whole	ADJ
fbem-10897	72	30	value	value	NOUN
fbem-10897	72	31	chain	chain	NOUN
fbem-10897	72	32	.	.	PUNCT
fbem-10897	73	1	in	in	ADP
fbem-10897	73	2	terms	term	NOUN
fbem-10897	73	3	of	of	ADP
fbem-10897	73	4	employee	employee	NOUN
fbem-10897	73	5	responsibility	responsibility	NOUN
fbem-10897	73	6	,	,	PUNCT
fbem-10897	73	7	proya	proya	NOUN
fbem-10897	73	8	is	be	AUX
fbem-10897	73	9	not	not	PART
fbem-10897	73	10	only	only	ADV
fbem-10897	73	11	limited	limit	VERB
fbem-10897	73	12	to	to	ADP
fbem-10897	73	13	the	the	DET
fbem-10897	73	14	compliance	compliance	NOUN
fbem-10897	73	15	employment	employment	NOUN
fbem-10897	73	16	of	of	ADP
fbem-10897	73	17	employees	employee	NOUN
fbem-10897	73	18	,	,	PUNCT
fbem-10897	73	19	but	but	CCONJ
fbem-10897	73	20	also	also	ADV
fbem-10897	73	21	attaches	attach	VERB
fbem-10897	73	22	importance	importance	NOUN
fbem-10897	73	23	to	to	ADP
fbem-10897	73	24	the	the	DET
fbem-10897	73	25	welfare	welfare	NOUN
fbem-10897	73	26	protection	protection	NOUN
fbem-10897	73	27	of	of	ADP
fbem-10897	73	28	employees	employee	NOUN
fbem-10897	73	29	on	on	ADP
fbem-10897	73	30	the	the	DET
fbem-10897	73	31	basis	basis	NOUN
fbem-10897	73	32	of	of	ADP
fbem-10897	73	33	the	the	DET
fbem-10897	73	34	compliance	compliance	NOUN
fbem-10897	73	35	employment	employment	NOUN
fbem-10897	73	36	of	of	ADP
fbem-10897	73	37	employees	employee	NOUN
fbem-10897	73	38	,	,	PUNCT
fbem-10897	73	39	and	and	CCONJ
fbem-10897	73	40	formulates	formulate	VERB
fbem-10897	73	41	and	and	CCONJ
fbem-10897	73	42	strictly	strictly	ADV
fbem-10897	73	43	implements	implement	VERB
fbem-10897	73	44	the	the	DET
fbem-10897	73	45	welfare	welfare	NOUN
fbem-10897	73	46	management	management	NOUN
fbem-10897	73	47	measures	measure	NOUN
fbem-10897	73	48	.	.	PUNCT
fbem-10897	74	1	in	in	ADP
fbem-10897	74	2	addition	addition	NOUN
fbem-10897	74	3	to	to	ADP
fbem-10897	74	4	welfare	welfare	NOUN
fbem-10897	74	5	security	security	NOUN
fbem-10897	74	6	,	,	PUNCT
fbem-10897	74	7	proya	proya	NOUN
fbem-10897	74	8	attaches	attach	VERB
fbem-10897	74	9	great	great	ADJ
fbem-10897	74	10	importance	importance	NOUN
fbem-10897	74	11	to	to	ADP
fbem-10897	74	12	the	the	DET
fbem-10897	74	13	occupational	occupational	ADJ
fbem-10897	74	14	health	health	NOUN
fbem-10897	74	15	security	security	NOUN
fbem-10897	74	16	of	of	ADP
fbem-10897	74	17	employees	employee	NOUN
fbem-10897	74	18	and	and	CCONJ
fbem-10897	74	19	has	have	AUX
fbem-10897	74	20	set	set	VERB
fbem-10897	74	21	occupational	occupational	ADJ
fbem-10897	74	22	health	health	NOUN
fbem-10897	74	23	management	management	NOUN
fbem-10897	74	24	goals	goal	NOUN
fbem-10897	74	25	.	.	PUNCT
fbem-10897	75	1	in	in	ADP
fbem-10897	75	2	order	order	NOUN
fbem-10897	75	3	to	to	PART
fbem-10897	75	4	ensure	ensure	VERB
fbem-10897	75	5	the	the	DET
fbem-10897	75	6	implementation	implementation	NOUN
fbem-10897	75	7	of	of	ADP
fbem-10897	75	8	these	these	DET
fbem-10897	75	9	goals	goal	NOUN
fbem-10897	75	10	,	,	PUNCT
fbem-10897	75	11	the	the	DET
fbem-10897	75	12	company	company	NOUN
fbem-10897	75	13	has	have	AUX
fbem-10897	75	14	also	also	ADV
fbem-10897	75	15	formulated	formulate	VERB
fbem-10897	75	16	and	and	CCONJ
fbem-10897	75	17	strictly	strictly	ADV
fbem-10897	75	18	implemented	implement	VERB
fbem-10897	75	19	the	the	DET
fbem-10897	75	20	relevant	relevant	ADJ
fbem-10897	75	21	employee	employee	NOUN
fbem-10897	75	22	health	health	NOUN
fbem-10897	75	23	management	management	NOUN
fbem-10897	75	24	system	system	NOUN
fbem-10897	75	25	to	to	PART
fbem-10897	75	26	manage	manage	VERB
fbem-10897	75	27	and	and	CCONJ
fbem-10897	75	28	monitor	monitor	VERB
fbem-10897	75	29	the	the	DET
fbem-10897	75	30	occupational	occupational	ADJ
fbem-10897	75	31	health	health	NOUN
fbem-10897	75	32	situation	situation	NOUN
fbem-10897	75	33	of	of	ADP
fbem-10897	75	34	employees	employee	NOUN
fbem-10897	75	35	.	.	PUNCT
fbem-10897	76	1	the	the	DET
fbem-10897	76	2	company	company	NOUN
fbem-10897	76	3	actively	actively	ADV
fbem-10897	76	4	evaluates	evaluate	VERB
fbem-10897	76	5	and	and	CCONJ
fbem-10897	76	6	identifies	identify	VERB
fbem-10897	76	7	the	the	DET
fbem-10897	76	8	possible	possible	ADJ
fbem-10897	76	9	risk	risk	NOUN
fbem-10897	76	10	of	of	ADP
fbem-10897	76	11	occupational	occupational	ADJ
fbem-10897	76	12	diseases	disease	NOUN
fbem-10897	76	13	in	in	ADP
fbem-10897	76	14	the	the	DET
fbem-10897	76	15	workplace	workplace	NOUN
fbem-10897	76	16	,	,	PUNCT
fbem-10897	76	17	and	and	CCONJ
fbem-10897	76	18	takes	take	VERB
fbem-10897	76	19	appropriate	appropriate	ADJ
fbem-10897	76	20	preventive	preventive	ADJ
fbem-10897	76	21	and	and	CCONJ
fbem-10897	76	22	control	control	NOUN
fbem-10897	76	23	measures	measure	NOUN
fbem-10897	76	24	to	to	PART
fbem-10897	76	25	ensure	ensure	VERB
fbem-10897	76	26	the	the	DET
fbem-10897	76	27	health	health	NOUN
fbem-10897	76	28	of	of	ADP
fbem-10897	76	29	its	its	PRON
fbem-10897	76	30	employees	employee	NOUN
fbem-10897	76	31	.	.	PUNCT
fbem-10897	77	1	social	social	ADJ
fbem-10897	77	2	responsibility	responsibility	NOUN
fbem-10897	77	3	,	,	PUNCT
fbem-10897	77	4	pearl	pearl	NOUN
fbem-10897	77	5	,	,	PUNCT
fbem-10897	77	6	uphold	uphold	VERB
fbem-10897	77	7	the	the	DET
fbem-10897	77	8	"	"	PUNCT
fbem-10897	77	9	beautiful	beautiful	ADJ
fbem-10897	77	10	forever	forever	ADV
fbem-10897	77	11	,	,	PUNCT
fbem-10897	77	12	sharing	share	VERB
fbem-10897	77	13	good	good	ADJ
fbem-10897	77	14	"	"	PUNCT
fbem-10897	77	15	corporate	corporate	ADJ
fbem-10897	77	16	mission	mission	NOUN
fbem-10897	77	17	,	,	PUNCT
fbem-10897	77	18	advocating	advocate	VERB
fbem-10897	77	19	"	"	PUNCT
fbem-10897	77	20	beauty	beauty	NOUN
fbem-10897	77	21	"	"	PUNCT
fbem-10897	77	22	social	social	ADJ
fbem-10897	77	23	values	value	NOUN
fbem-10897	77	24	,	,	PUNCT
fbem-10897	77	25	focus	focus	VERB
fbem-10897	77	26	on	on	ADP
fbem-10897	77	27	key	key	ADJ
fbem-10897	77	28	issues	issue	NOUN
fbem-10897	77	29	in	in	ADP
fbem-10897	77	30	social	social	ADJ
fbem-10897	77	31	life	life	NOUN
fbem-10897	77	32	,	,	PUNCT
fbem-10897	77	33	relying	rely	VERB
fbem-10897	77	34	on	on	ADP
fbem-10897	77	35	the	the	DET
fbem-10897	77	36	brand	brand	NOUN
fbem-10897	77	37	influence	influence	NOUN
fbem-10897	77	38	and	and	CCONJ
fbem-10897	77	39	professional	professional	ADJ
fbem-10897	77	40	ability	ability	NOUN
fbem-10897	77	41	,	,	PUNCT
fbem-10897	77	42	issued	issue	VERB
fbem-10897	77	43	initiative	initiative	NOUN
fbem-10897	77	44	,	,	PUNCT
fbem-10897	77	45	into	into	ADP
fbem-10897	77	46	action	action	NOUN
fbem-10897	77	47	,	,	PUNCT
fbem-10897	77	48	by	by	ADP
fbem-10897	77	49	2022	2022	NUM
fbem-10897	77	50	,	,	PUNCT
fbem-10897	77	51	the	the	DET
fbem-10897	77	52	company	company	NOUN
fbem-10897	77	53	's	's	PART
fbem-10897	77	54	social	social	ADJ
fbem-10897	77	55	advocacy	advocacy	NOUN
fbem-10897	77	56	activities	activity	NOUN
fbem-10897	77	57	have	have	AUX
fbem-10897	77	58	directly	directly	ADV
fbem-10897	77	59	benefit	benefit	VERB
fbem-10897	77	60	430000	430000	NUM
fbem-10897	77	61	people	people	NOUN
fbem-10897	77	62	,	,	PUNCT
fbem-10897	77	63	and	and	CCONJ
fbem-10897	77	64	provides	provide	VERB
fbem-10897	77	65	indirect	indirect	ADJ
fbem-10897	77	66	benefit	benefit	NOUN
fbem-10897	77	67	for	for	ADP
fbem-10897	77	68	119	119	NUM
fbem-10897	77	69	million	million	NUM
fbem-10897	77	70	people	people	NOUN
fbem-10897	77	71	.	.	PUNCT
fbem-10897	78	1	in	in	ADP
fbem-10897	78	2	terms	term	NOUN
fbem-10897	78	3	of	of	ADP
fbem-10897	78	4	investor	investor	NOUN
fbem-10897	78	5	relations	relation	NOUN
fbem-10897	78	6	,	,	PUNCT
fbem-10897	78	7	proya	proya	NOUN
fbem-10897	78	8	attaches	attach	VERB
fbem-10897	78	9	great	great	ADJ
fbem-10897	78	10	importance	importance	NOUN
fbem-10897	78	11	to	to	ADP
fbem-10897	78	12	it	it	PRON
fbem-10897	78	13	and	and	CCONJ
fbem-10897	78	14	strictly	strictly	ADV
fbem-10897	78	15	complies	comply	VERB
fbem-10897	78	16	with	with	ADP
fbem-10897	78	17	regulatory	regulatory	ADJ
fbem-10897	78	18	requirements	requirement	NOUN
fbem-10897	78	19	to	to	PART
fbem-10897	78	20	ensure	ensure	VERB
fbem-10897	78	21	the	the	DET
fbem-10897	78	22	accurate	accurate	ADJ
fbem-10897	78	23	and	and	CCONJ
fbem-10897	78	24	timely	timely	ADJ
fbem-10897	78	25	performance	performance	NOUN
fbem-10897	78	26	of	of	ADP
fbem-10897	78	27	information	information	NOUN
fbem-10897	78	28	disclosure	disclosure	NOUN
fbem-10897	78	29	obligations	obligation	NOUN
fbem-10897	78	30	.	.	PUNCT
fbem-10897	79	1	voluntary	voluntary	ADJ
fbem-10897	79	2	esg	esg	PROPN
fbem-10897	79	3	information	information	NOUN
fbem-10897	79	4	disclosure	disclosure	NOUN
fbem-10897	79	5	through	through	ADP
fbem-10897	79	6	environmental	environmental	ADJ
fbem-10897	79	7	,	,	PUNCT
fbem-10897	79	8	social	social	ADJ
fbem-10897	79	9	and	and	CCONJ
fbem-10897	79	10	corporate	corporate	ADJ
fbem-10897	79	11	governance	governance	NOUN
fbem-10897	79	12	(	(	PUNCT
fbem-10897	79	13	esg	esg	NOUN
fbem-10897	79	14	)	)	PUNCT
fbem-10897	79	15	reports	report	NOUN
fbem-10897	79	16	,	,	PUNCT
fbem-10897	79	17	and	and	CCONJ
fbem-10897	79	18	hiring	hire	VERB
fbem-10897	79	19	external	external	ADJ
fbem-10897	79	20	professional	professional	ADJ
fbem-10897	79	21	organizations	organization	NOUN
fbem-10897	79	22	to	to	PART
fbem-10897	79	23	conduct	conduct	VERB
fbem-10897	79	24	esg	esg	NOUN
fbem-10897	79	25	training	training	NOUN
fbem-10897	79	26	to	to	ADP
fbem-10897	79	27	relevant	relevant	ADJ
fbem-10897	79	28	departments	department	NOUN
fbem-10897	79	29	of	of	ADP
fbem-10897	79	30	the	the	DET
fbem-10897	79	31	company	company	NOUN
fbem-10897	79	32	to	to	PART
fbem-10897	79	33	enhance	enhance	VERB
fbem-10897	79	34	the	the	DET
fbem-10897	79	35	internal	internal	ADJ
fbem-10897	79	36	understanding	understanding	NOUN
fbem-10897	79	37	of	of	ADP
fbem-10897	79	38	esg	esg	PROPN
fbem-10897	79	39	.	.	PUNCT
fbem-10897	80	1	3.3.3	3.3.3	NUM
fbem-10897	80	2	.	.	PUNCT
fbem-10897	80	3	corporate	corporate	ADJ
fbem-10897	80	4	governance	governance	NOUN
fbem-10897	80	5	status	status	NOUN
fbem-10897	80	6	of	of	ADP
fbem-10897	80	7	proya	proya	NOUN
fbem-10897	80	8	in	in	ADP
fbem-10897	80	9	terms	term	NOUN
fbem-10897	80	10	of	of	ADP
fbem-10897	80	11	compliance	compliance	NOUN
fbem-10897	80	12	operation	operation	NOUN
fbem-10897	80	13	,	,	PUNCT
fbem-10897	80	14	the	the	DET
fbem-10897	80	15	company	company	NOUN
fbem-10897	80	16	has	have	AUX
fbem-10897	80	17	set	set	VERB
fbem-10897	80	18	up	up	ADP
fbem-10897	80	19	a	a	DET
fbem-10897	80	20	multi	multi	ADJ
fbem-10897	80	21	-	-	ADJ
fbem-10897	80	22	level	level	ADJ
fbem-10897	80	23	supervision	supervision	NOUN
fbem-10897	80	24	and	and	CCONJ
fbem-10897	80	25	reporting	reporting	NOUN
fbem-10897	80	26	mechanism	mechanism	NOUN
fbem-10897	80	27	,	,	PUNCT
fbem-10897	80	28	and	and	CCONJ
fbem-10897	80	29	set	set	VERB
fbem-10897	80	30	up	up	ADP
fbem-10897	80	31	various	various	ADJ
fbem-10897	80	32	compliance	compliance	NOUN
fbem-10897	80	33	reporting	reporting	NOUN
fbem-10897	80	34	channels	channel	NOUN
fbem-10897	80	35	,	,	PUNCT
fbem-10897	80	36	including	include	VERB
fbem-10897	80	37	the	the	DET
fbem-10897	80	38	internal	internal	ADJ
fbem-10897	80	39	employee	employee	NOUN
fbem-10897	80	40	supervision	supervision	NOUN
fbem-10897	80	41	and	and	CCONJ
fbem-10897	80	42	reporting	report	VERB
fbem-10897	80	43	management	management	NOUN
fbem-10897	80	44	system	system	NOUN
fbem-10897	80	45	,	,	PUNCT
fbem-10897	80	46	the	the	DET
fbem-10897	80	47	external	external	ADJ
fbem-10897	80	48	reporting	reporting	NOUN
fbem-10897	80	49	hotline	hotline	NOUN
fbem-10897	80	50	and	and	CCONJ
fbem-10897	80	51	reporting	report	VERB
fbem-10897	80	52	mailbox	mailbox	NOUN
fbem-10897	80	53	.	.	PUNCT
fbem-10897	81	1	at	at	ADP
fbem-10897	81	2	the	the	DET
fbem-10897	81	3	same	same	ADJ
fbem-10897	81	4	time	time	NOUN
fbem-10897	81	5	,	,	PUNCT
fbem-10897	81	6	the	the	DET
fbem-10897	81	7	company	company	NOUN
fbem-10897	81	8	and	and	CCONJ
fbem-10897	81	9	the	the	DET
fbem-10897	81	10	legal	legal	ADJ
fbem-10897	81	11	department	department	NOUN
fbem-10897	81	12	carried	carry	VERB
fbem-10897	81	13	out	out	ADP
fbem-10897	81	14	legal	legal	ADJ
fbem-10897	81	15	compliance	compliance	NOUN
fbem-10897	81	16	practice	practice	NOUN
fbem-10897	81	17	training	training	NOUN
fbem-10897	81	18	activities	activity	NOUN
fbem-10897	81	19	for	for	ADP
fbem-10897	81	20	employees	employee	NOUN
fbem-10897	81	21	,	,	PUNCT
fbem-10897	81	22	including	include	VERB
fbem-10897	81	23	3	3	NUM
fbem-10897	81	24	off	off	ADP
fbem-10897	81	25	-	-	PUNCT
fbem-10897	81	26	site	site	NOUN
fbem-10897	81	27	expert	expert	NOUN
fbem-10897	81	28	training	training	NOUN
fbem-10897	81	29	and	and	CCONJ
fbem-10897	81	30	4	4	NUM
fbem-10897	81	31	internal	internal	ADJ
fbem-10897	81	32	legal	legal	ADJ
fbem-10897	81	33	training	training	NOUN
fbem-10897	81	34	,	,	PUNCT
fbem-10897	81	35	covering	cover	VERB
fbem-10897	81	36	272	272	NUM
fbem-10897	81	37	person	person	NOUN
fbem-10897	81	38	-	-	PUNCT
fbem-10897	81	39	times	time	NOUN
fbem-10897	81	40	,	,	PUNCT
fbem-10897	81	41	totaling	total	VERB
fbem-10897	81	42	555.5.5	555.5.5	NUM
fbem-10897	81	43	hours	hour	NOUN
fbem-10897	81	44	,	,	PUNCT
fbem-10897	81	45	further	far	ADV
fbem-10897	81	46	integrating	integrate	VERB
fbem-10897	81	47	the	the	DET
fbem-10897	81	48	rule	rule	NOUN
fbem-10897	81	49	of	of	ADP
fbem-10897	81	50	law	law	NOUN
fbem-10897	81	51	through	through	ADP
fbem-10897	81	52	the	the	DET
fbem-10897	81	53	enterprise	enterprise	NOUN
fbem-10897	81	54	management	management	NOUN
fbem-10897	81	55	,	,	PUNCT
fbem-10897	81	56	and	and	CCONJ
fbem-10897	81	57	promoting	promote	VERB
fbem-10897	81	58	the	the	DET
fbem-10897	81	59	enterprise	enterprise	NOUN
fbem-10897	81	60	compliance	compliance	NOUN
fbem-10897	81	61	management	management	NOUN
fbem-10897	81	62	philosophy	philosophy	NOUN
fbem-10897	81	63	of	of	ADP
fbem-10897	81	64	"	"	PUNCT
fbem-10897	81	65	promoting	promote	VERB
fbem-10897	81	66	management	management	NOUN
fbem-10897	81	67	by	by	ADP
fbem-10897	81	68	law	law	NOUN
fbem-10897	81	69	and	and	CCONJ
fbem-10897	81	70	creating	create	VERB
fbem-10897	81	71	efficiency	efficiency	NOUN
fbem-10897	81	72	through	through	ADP
fbem-10897	81	73	management	management	NOUN
fbem-10897	81	74	"	"	PUNCT
fbem-10897	81	75	.	.	PUNCT
fbem-10897	82	1	in	in	ADP
fbem-10897	82	2	terms	term	NOUN
fbem-10897	82	3	of	of	ADP
fbem-10897	82	4	corruption	corruption	NOUN
fbem-10897	82	5	and	and	CCONJ
fbem-10897	82	6	business	business	NOUN
fbem-10897	82	7	ethics	ethic	NOUN
fbem-10897	82	8	,	,	PUNCT
fbem-10897	82	9	proya	proya	NOUN
fbem-10897	82	10	has	have	AUX
fbem-10897	82	11	implemented	implement	VERB
fbem-10897	82	12	the	the	DET
fbem-10897	82	13	"	"	PUNCT
fbem-10897	82	14	proya	proya	ADJ
fbem-10897	82	15	32	32	NUM
fbem-10897	82	16	"	"	PUNCT
fbem-10897	82	17	for	for	ADP
fbem-10897	82	18	its	its	PRON
fbem-10897	82	19	employees	employee	NOUN
fbem-10897	82	20	and	and	CCONJ
fbem-10897	82	21	signed	sign	VERB
fbem-10897	82	22	the	the	DET
fbem-10897	82	23	"	"	PUNCT
fbem-10897	82	24	integrity	integrity	NOUN
fbem-10897	82	25	and	and	CCONJ
fbem-10897	82	26	self	self	NOUN
fbem-10897	82	27	-	-	PUNCT
fbem-10897	82	28	discipline	discipline	NOUN
fbem-10897	82	29	commitment	commitment	NOUN
fbem-10897	82	30	"	"	PUNCT
fbem-10897	82	31	with	with	ADP
fbem-10897	82	32	its	its	PRON
fbem-10897	82	33	employees	employee	NOUN
fbem-10897	82	34	to	to	PART
fbem-10897	82	35	strengthen	strengthen	VERB
fbem-10897	82	36	their	their	PRON
fbem-10897	82	37	awareness	awareness	NOUN
fbem-10897	82	38	of	of	ADP
fbem-10897	82	39	"	"	PUNCT
fbem-10897	82	40	honesty	honesty	NOUN
fbem-10897	82	41	,	,	PUNCT
fbem-10897	82	42	integrity	integrity	NOUN
fbem-10897	82	43	,	,	PUNCT
fbem-10897	82	44	integrity	integrity	NOUN
fbem-10897	82	45	and	and	CCONJ
fbem-10897	82	46	trustworthiness	trustworthiness	NOUN
fbem-10897	82	47	"	"	PUNCT
fbem-10897	82	48	.	.	PUNCT
fbem-10897	83	1	in	in	ADP
fbem-10897	83	2	supplier	supplier	NOUN
fbem-10897	83	3	procurement	procurement	NOUN
fbem-10897	83	4	and	and	CCONJ
fbem-10897	83	5	brand	brand	NOUN
fbem-10897	83	6	cooperation	cooperation	NOUN
fbem-10897	83	7	,	,	PUNCT
fbem-10897	83	8	the	the	DET
fbem-10897	83	9	company	company	NOUN
fbem-10897	83	10	requires	require	VERB
fbem-10897	83	11	all	all	DET
fbem-10897	83	12	raw	raw	ADJ
fbem-10897	83	13	materials	material	NOUN
fbem-10897	83	14	and	and	CCONJ
fbem-10897	83	15	packaging	packaging	NOUN
fbem-10897	83	16	materials	material	NOUN
fbem-10897	83	17	suppliers	supplier	NOUN
fbem-10897	83	18	to	to	PART
fbem-10897	83	19	sign	sign	VERB
fbem-10897	83	20	the	the	DET
fbem-10897	83	21	business	business	NOUN
fbem-10897	83	22	standards	standard	NOUN
fbem-10897	83	23	pledge	pledge	VERB
fbem-10897	83	24	,	,	PUNCT
fbem-10897	83	25	brand	brand	NOUN
fbem-10897	83	26	promotion	promotion	NOUN
fbem-10897	83	27	partners	partner	NOUN
fbem-10897	83	28	need	need	VERB
fbem-10897	83	29	to	to	PART
fbem-10897	83	30	sign	sign	VERB
fbem-10897	83	31	the	the	DET
fbem-10897	83	32	clean	clean	ADJ
fbem-10897	83	33	cooperation	cooperation	NOUN
fbem-10897	83	34	agreement	agreement	NOUN
fbem-10897	83	35	,	,	PUNCT
fbem-10897	83	36	strictly	strictly	ADV
fbem-10897	83	37	follow	follow	VERB
fbem-10897	83	38	the	the	DET
fbem-10897	83	39	principle	principle	NOUN
fbem-10897	83	40	of	of	ADP
fbem-10897	83	41	corruption	corruption	NOUN
fbem-10897	83	42	and	and	CCONJ
fbem-10897	83	43	bribery	bribery	NOUN
fbem-10897	83	44	,	,	PUNCT
fbem-10897	83	45	and	and	CCONJ
fbem-10897	83	46	in	in	ADP
fbem-10897	83	47	the	the	DET
fbem-10897	83	48	procurement	procurement	NOUN
fbem-10897	83	49	contract	contract	NOUN
fbem-10897	83	50	clear	clear	ADJ
fbem-10897	83	51	definition	definition	NOUN
fbem-10897	83	52	of	of	ADP
fbem-10897	83	53	commercial	commercial	ADJ
fbem-10897	83	54	bribery	bribery	NOUN
fbem-10897	83	55	and	and	CCONJ
fbem-10897	83	56	illegal	illegal	ADJ
fbem-10897	83	57	punishment	punishment	NOUN
fbem-10897	83	58	regulations	regulation	NOUN
fbem-10897	83	59	.	.	PUNCT
fbem-10897	84	1	151	151	NUM
fbem-10897	84	2	in	in	ADP
fbem-10897	84	3	terms	term	NOUN
fbem-10897	84	4	of	of	ADP
fbem-10897	84	5	intellectual	intellectual	ADJ
fbem-10897	84	6	property	property	NOUN
fbem-10897	84	7	protection	protection	NOUN
fbem-10897	84	8	,	,	PUNCT
fbem-10897	84	9	in	in	ADP
fbem-10897	84	10	2022	2022	NUM
fbem-10897	84	11	,	,	PUNCT
fbem-10897	84	12	the	the	DET
fbem-10897	84	13	company	company	NOUN
fbem-10897	84	14	established	establish	VERB
fbem-10897	84	15	ip	ip	NOUN
fbem-10897	84	16	(	(	PUNCT
fbem-10897	84	17	intellectual	intellectual	ADJ
fbem-10897	84	18	property	property	NOUN
fbem-10897	84	19	,	,	PUNCT
fbem-10897	84	20	intellectual	intellectual	ADJ
fbem-10897	84	21	property	property	NOUN
fbem-10897	84	22	)	)	PUNCT
fbem-10897	84	23	management	management	NOUN
fbem-10897	84	24	system	system	NOUN
fbem-10897	84	25	to	to	PART
fbem-10897	84	26	strengthen	strengthen	VERB
fbem-10897	84	27	the	the	DET
fbem-10897	84	28	company	company	NOUN
fbem-10897	84	29	's	's	PART
fbem-10897	84	30	intellectual	intellectual	ADJ
fbem-10897	84	31	property	property	NOUN
fbem-10897	84	32	protection	protection	NOUN
fbem-10897	84	33	in	in	ADP
fbem-10897	84	34	terms	term	NOUN
fbem-10897	84	35	of	of	ADP
fbem-10897	84	36	ip	ip	NOUN
fbem-10897	84	37	layout	layout	NOUN
fbem-10897	84	38	and	and	CCONJ
fbem-10897	84	39	management	management	NOUN
fbem-10897	84	40	,	,	PUNCT
fbem-10897	84	41	risk	risk	NOUN
fbem-10897	84	42	warning	warning	NOUN
fbem-10897	84	43	and	and	CCONJ
fbem-10897	84	44	control	control	NOUN
fbem-10897	84	45	,	,	PUNCT
fbem-10897	84	46	process	process	NOUN
fbem-10897	84	47	system	system	NOUN
fbem-10897	84	48	construction	construction	NOUN
fbem-10897	84	49	,	,	PUNCT
fbem-10897	84	50	professional	professional	ADJ
fbem-10897	84	51	personnel	personnel	NOUN
fbem-10897	84	52	training	training	NOUN
fbem-10897	84	53	,	,	PUNCT
fbem-10897	84	54	information	information	NOUN
fbem-10897	84	55	tool	tool	NOUN
fbem-10897	84	56	construction	construction	NOUN
fbem-10897	84	57	,	,	PUNCT
fbem-10897	84	58	etc	etc	X
fbem-10897	84	59	.	.	X
fbem-10897	85	1	at	at	ADP
fbem-10897	85	2	the	the	DET
fbem-10897	85	3	same	same	ADJ
fbem-10897	85	4	time	time	NOUN
fbem-10897	85	5	,	,	PUNCT
fbem-10897	85	6	the	the	DET
fbem-10897	85	7	company	company	NOUN
fbem-10897	85	8	has	have	AUX
fbem-10897	85	9	added	add	VERB
fbem-10897	85	10	new	new	ADJ
fbem-10897	85	11	management	management	NOUN
fbem-10897	85	12	systems	system	NOUN
fbem-10897	85	13	such	such	ADJ
fbem-10897	85	14	as	as	ADP
fbem-10897	85	15	compliance	compliance	NOUN
fbem-10897	85	16	guidelines	guideline	NOUN
fbem-10897	85	17	on	on	ADP
fbem-10897	85	18	the	the	DET
fbem-10897	85	19	use	use	NOUN
fbem-10897	85	20	of	of	ADP
fbem-10897	85	21	software	software	NOUN
fbem-10897	85	22	,	,	PUNCT
fbem-10897	85	23	compliance	compliance	NOUN
fbem-10897	85	24	guidelines	guideline	NOUN
fbem-10897	85	25	for	for	ADP
fbem-10897	85	26	the	the	DET
fbem-10897	85	27	use	use	NOUN
fbem-10897	85	28	of	of	ADP
fbem-10897	85	29	font	font	NOUN
fbem-10897	85	30	and	and	CCONJ
fbem-10897	85	31	compliance	compliance	NOUN
fbem-10897	85	32	guidelines	guideline	NOUN
fbem-10897	85	33	for	for	ADP
fbem-10897	85	34	the	the	DET
fbem-10897	85	35	use	use	NOUN
fbem-10897	85	36	of	of	ADP
fbem-10897	85	37	pictures	picture	NOUN
fbem-10897	85	38	to	to	PART
fbem-10897	85	39	standardize	standardize	VERB
fbem-10897	85	40	the	the	DET
fbem-10897	85	41	compliance	compliance	NOUN
fbem-10897	85	42	use	use	NOUN
fbem-10897	85	43	of	of	ADP
fbem-10897	85	44	software	software	NOUN
fbem-10897	85	45	,	,	PUNCT
fbem-10897	85	46	fonts	font	NOUN
fbem-10897	85	47	,	,	PUNCT
fbem-10897	85	48	pictures	picture	NOUN
fbem-10897	85	49	and	and	CCONJ
fbem-10897	85	50	other	other	ADJ
fbem-10897	85	51	aspects	aspect	NOUN
fbem-10897	85	52	of	of	ADP
fbem-10897	85	53	various	various	ADJ
fbem-10897	85	54	business	business	NOUN
fbem-10897	85	55	departments	department	NOUN
fbem-10897	85	56	and	and	CCONJ
fbem-10897	85	57	eliminate	eliminate	VERB
fbem-10897	85	58	the	the	DET
fbem-10897	85	59	potential	potential	ADJ
fbem-10897	85	60	risk	risk	NOUN
fbem-10897	85	61	of	of	ADP
fbem-10897	85	62	intellectual	intellectual	ADJ
fbem-10897	85	63	property	property	NOUN
fbem-10897	85	64	infringement	infringement	NOUN
fbem-10897	85	65	.	.	PUNCT
fbem-10897	86	1	4	4	X
fbem-10897	86	2	.	.	X
fbem-10897	86	3	the	the	DET
fbem-10897	86	4	impact	impact	NOUN
fbem-10897	86	5	of	of	ADP
fbem-10897	86	6	the	the	DET
fbem-10897	86	7	value	value	NOUN
fbem-10897	86	8	of	of	ADP
fbem-10897	86	9	the	the	DET
fbem-10897	86	10	esg	esg	PROPN
fbem-10897	86	11	upgrade	upgrade	NOUN
fbem-10897	86	12	on	on	ADP
fbem-10897	86	13	corporate	corporate	ADJ
fbem-10897	86	14	value	value	NOUN
fbem-10897	86	15	4.1	4.1	NUM
fbem-10897	86	16	.	.	PUNCT
fbem-10897	87	1	market	market	NOUN
fbem-10897	87	2	reaction	reaction	NOUN
fbem-10897	87	3	analysis	analysis	NOUN
fbem-10897	87	4	after	after	SCONJ
fbem-10897	87	5	the	the	DET
fbem-10897	87	6	esg	esg	PROPN
fbem-10897	87	7	rating	rating	NOUN
fbem-10897	87	8	upgrade	upgrade	VERB
fbem-10897	87	9	this	this	DET
fbem-10897	87	10	paper	paper	NOUN
fbem-10897	87	11	uses	use	VERB
fbem-10897	87	12	the	the	DET
fbem-10897	87	13	event	event	NOUN
fbem-10897	87	14	study	study	NOUN
fbem-10897	87	15	method	method	NOUN
fbem-10897	87	16	to	to	PART
fbem-10897	87	17	study	study	VERB
fbem-10897	87	18	the	the	DET
fbem-10897	87	19	abnormal	abnormal	ADJ
fbem-10897	87	20	market	market	NOUN
fbem-10897	87	21	yield	yield	NOUN
fbem-10897	87	22	rate	rate	NOUN
fbem-10897	87	23	in	in	ADP
fbem-10897	87	24	the	the	DET
fbem-10897	87	25	window	window	NOUN
fbem-10897	87	26	period	period	NOUN
fbem-10897	87	27	of	of	ADP
fbem-10897	87	28	the	the	DET
fbem-10897	87	29	event	event	NOUN
fbem-10897	87	30	date	date	NOUN
fbem-10897	87	31	and	and	CCONJ
fbem-10897	87	32	no	no	DET
fbem-10897	87	33	major	major	ADJ
fbem-10897	87	34	event	event	NOUN
fbem-10897	87	35	occurred	occur	VERB
fbem-10897	87	36	to	to	ADP
fbem-10897	87	37	bbb	bbb	PROPN
fbem-10897	87	38	,	,	PUNCT
fbem-10897	87	39	in	in	ADP
fbem-10897	87	40	order	order	NOUN
fbem-10897	87	41	to	to	PART
fbem-10897	87	42	observe	observe	VERB
fbem-10897	87	43	the	the	DET
fbem-10897	87	44	market	market	NOUN
fbem-10897	87	45	response	response	NOUN
fbem-10897	87	46	caused	cause	VERB
fbem-10897	87	47	by	by	ADP
fbem-10897	87	48	the	the	DET
fbem-10897	87	49	event	event	NOUN
fbem-10897	87	50	.	.	PUNCT
fbem-10897	88	1	in	in	ADP
fbem-10897	88	2	response	response	NOUN
fbem-10897	88	3	to	to	ADP
fbem-10897	88	4	this	this	DET
fbem-10897	88	5	event	event	NOUN
fbem-10897	88	6	,	,	PUNCT
fbem-10897	88	7	this	this	DET
fbem-10897	88	8	article	article	NOUN
fbem-10897	88	9	takes	take	VERB
fbem-10897	88	10	the	the	DET
fbem-10897	88	11	event	event	NOUN
fbem-10897	88	12	date	date	NOUN
fbem-10897	88	13	as	as	ADP
fbem-10897	88	14	the	the	DET
fbem-10897	88	15	event	event	NOUN
fbem-10897	88	16	date	date	NOUN
fbem-10897	88	17	,	,	PUNCT
fbem-10897	88	18	that	that	ADV
fbem-10897	88	19	is	is	ADV
fbem-10897	88	20	,	,	PUNCT
fbem-10897	88	21	october	october	PROPN
fbem-10897	88	22	26,2022	26,2022	NOUN
fbem-10897	88	23	,	,	PUNCT
fbem-10897	88	24	and	and	CCONJ
fbem-10897	88	25	sets	set	VERB
fbem-10897	88	26	the	the	DET
fbem-10897	88	27	date	date	NOUN
fbem-10897	88	28	to	to	ADP
fbem-10897	88	29	the	the	DET
fbem-10897	88	30	basis	basis	NOUN
fbem-10897	88	31	point	point	NOUN
fbem-10897	88	32	0	0	NUM
fbem-10897	88	33	.	.	PUNCT
fbem-10897	89	1	the	the	DET
fbem-10897	89	2	event	event	NOUN
fbem-10897	89	3	date	date	NOUN
fbem-10897	89	4	and	and	CCONJ
fbem-10897	89	5	15	15	NUM
fbem-10897	89	6	working	working	NOUN
fbem-10897	89	7	days	day	NOUN
fbem-10897	89	8	after	after	ADP
fbem-10897	89	9	the	the	DET
fbem-10897	89	10	event	event	NOUN
fbem-10897	89	11	as	as	ADP
fbem-10897	89	12	the	the	DET
fbem-10897	89	13	event	event	NOUN
fbem-10897	89	14	window	window	NOUN
fbem-10897	89	15	period	period	NOUN
fbem-10897	89	16	.	.	PUNCT
fbem-10897	90	1	the	the	DET
fbem-10897	90	2	200	200	NUM
fbem-10897	90	3	working	work	VERB
fbem-10897	90	4	days	day	NOUN
fbem-10897	90	5	before	before	ADP
fbem-10897	90	6	the	the	DET
fbem-10897	90	7	event	event	NOUN
fbem-10897	90	8	window	window	NOUN
fbem-10897	90	9	period	period	NOUN
fbem-10897	90	10	,	,	PUNCT
fbem-10897	90	11	from	from	ADP
fbem-10897	90	12	december	december	PROPN
fbem-10897	90	13	3,2021	3,2021	PROPN
fbem-10897	90	14	to	to	ADP
fbem-10897	90	15	december	december	PROPN
fbem-10897	90	16	27,2022	27,2022	NUM
fbem-10897	90	17	,	,	PUNCT
fbem-10897	90	18	are	be	AUX
fbem-10897	90	19	taken	take	VERB
fbem-10897	90	20	as	as	ADP
fbem-10897	90	21	the	the	DET
fbem-10897	90	22	event	event	NOUN
fbem-10897	90	23	estimation	estimation	NOUN
fbem-10897	90	24	period	period	NOUN
fbem-10897	90	25	,	,	PUNCT
fbem-10897	90	26	when	when	SCONJ
fbem-10897	90	27	the	the	DET
fbem-10897	90	28	annual	annual	ADJ
fbem-10897	90	29	report	report	NOUN
fbem-10897	90	30	on	on	ADP
fbem-10897	90	31	april	april	PROPN
fbem-10897	90	32	22	22	NUM
fbem-10897	90	33	is	be	AUX
fbem-10897	90	34	excluded	exclude	VERB
fbem-10897	90	35	.	.	PUNCT
fbem-10897	91	1	moreover	moreover	ADV
fbem-10897	91	2	,	,	PUNCT
fbem-10897	91	3	this	this	DET
fbem-10897	91	4	paper	paper	NOUN
fbem-10897	91	5	selects	select	VERB
fbem-10897	91	6	the	the	DET
fbem-10897	91	7	most	most	ADV
fbem-10897	91	8	commonly	commonly	ADV
fbem-10897	91	9	applied	apply	VERB
fbem-10897	91	10	market	market	NOUN
fbem-10897	91	11	model	model	NOUN
fbem-10897	91	12	to	to	PART
fbem-10897	91	13	estimate	estimate	VERB
fbem-10897	91	14	the	the	DET
fbem-10897	91	15	normal	normal	ADJ
fbem-10897	91	16	yield	yield	NOUN
fbem-10897	91	17	rate	rate	NOUN
fbem-10897	91	18	to	to	ADP
fbem-10897	91	19	rit	rit	NOUN
fbem-10897	91	20	represents	represent	VERB
fbem-10897	91	21	the	the	DET
fbem-10897	91	22	value	value	NOUN
fbem-10897	91	23	of	of	ADP
fbem-10897	91	24	the	the	DET
fbem-10897	91	25	proya	proya	NOUN
fbem-10897	91	26	yield	yield	NOUN
fbem-10897	91	27	at	at	ADP
fbem-10897	91	28	day	day	NOUN
fbem-10897	91	29	t	t	PROPN
fbem-10897	91	30	,	,	PUNCT
fbem-10897	91	31	to	to	PART
fbem-10897	91	32	rmt	rmt	NOUN
fbem-10897	91	33	represents	represent	VERB
fbem-10897	91	34	the	the	DET
fbem-10897	91	35	value	value	NOUN
fbem-10897	91	36	of	of	ADP
fbem-10897	91	37	the	the	DET
fbem-10897	91	38	market	market	NOUN
fbem-10897	91	39	yield	yield	NOUN
fbem-10897	91	40	on	on	ADP
fbem-10897	91	41	day	day	NOUN
fbem-10897	91	42	t.	t.	PROPN
fbem-10897	91	43	in	in	ADP
fbem-10897	91	44	view	view	NOUN
fbem-10897	91	45	of	of	ADP
fbem-10897	91	46	the	the	DET
fbem-10897	91	47	listing	listing	NOUN
fbem-10897	91	48	of	of	ADP
fbem-10897	91	49	proya	proya	NOUN
fbem-10897	91	50	on	on	ADP
fbem-10897	91	51	the	the	DET
fbem-10897	91	52	shanghai	shanghai	PROPN
fbem-10897	91	53	stock	stock	PROPN
fbem-10897	91	54	exchange	exchange	PROPN
fbem-10897	91	55	,	,	PUNCT
fbem-10897	91	56	in	in	ADP
fbem-10897	91	57	order	order	NOUN
fbem-10897	91	58	to	to	PART
fbem-10897	91	59	make	make	VERB
fbem-10897	91	60	better	well	ADJ
fbem-10897	91	61	use	use	NOUN
fbem-10897	91	62	of	of	ADP
fbem-10897	91	63	market	market	NOUN
fbem-10897	91	64	trends	trend	NOUN
fbem-10897	91	65	to	to	PART
fbem-10897	91	66	measure	measure	VERB
fbem-10897	91	67	the	the	DET
fbem-10897	91	68	relative	relative	ADJ
fbem-10897	91	69	performance	performance	NOUN
fbem-10897	91	70	of	of	ADP
fbem-10897	91	71	proya	proya	NOUN
fbem-10897	91	72	on	on	ADP
fbem-10897	91	73	specific	specific	ADJ
fbem-10897	91	74	dates	date	NOUN
fbem-10897	91	75	,	,	PUNCT
fbem-10897	91	76	this	this	DET
fbem-10897	91	77	paper	paper	NOUN
fbem-10897	91	78	selects	select	VERB
fbem-10897	91	79	the	the	DET
fbem-10897	91	80	daily	daily	ADJ
fbem-10897	91	81	return	return	NOUN
fbem-10897	91	82	rate	rate	NOUN
fbem-10897	91	83	of	of	ADP
fbem-10897	91	84	the	the	DET
fbem-10897	91	85	shanghai	shanghai	PROPN
fbem-10897	91	86	composite	composite	ADJ
fbem-10897	91	87	index	index	NOUN
fbem-10897	91	88	in	in	ADP
fbem-10897	91	89	the	the	DET
fbem-10897	91	90	event	event	NOUN
fbem-10897	91	91	window	window	NOUN
fbem-10897	91	92	and	and	CCONJ
fbem-10897	91	93	estimated	estimate	VERB
fbem-10897	91	94	period	period	NOUN
fbem-10897	91	95	to	to	PART
fbem-10897	91	96	represent	represent	VERB
fbem-10897	91	97	the	the	DET
fbem-10897	91	98	market	market	NOUN
fbem-10897	91	99	return	return	NOUN
fbem-10897	91	100	rate	rate	NOUN
fbem-10897	91	101	.	.	PUNCT
fbem-10897	92	1	the	the	DET
fbem-10897	92	2	calculation	calculation	NOUN
fbem-10897	92	3	model	model	NOUN
fbem-10897	92	4	is	be	AUX
fbem-10897	92	5	shown	show	VERB
fbem-10897	92	6	in	in	ADP
fbem-10897	92	7	equation	equation	NOUN
fbem-10897	92	8	4	4	NUM
fbem-10897	92	9	-	-	SYM
fbem-10897	92	10	1	1	NUM
fbem-10897	92	11	:	:	PUNCT
fbem-10897	92	12	rit	rit	X
fbem-10897	92	13	=	=	SYM
fbem-10897	92	14	α+β	α+β	NUM
fbem-10897	92	15	rmt+ε	rmt+ε	NUM
fbem-10897	92	16	(	(	PUNCT
fbem-10897	92	17	formula	formula	NOUN
fbem-10897	92	18	4	4	NUM
fbem-10897	92	19	-	-	SYM
fbem-10897	92	20	1	1	NUM
fbem-10897	92	21	)	)	PUNCT
fbem-10897	92	22	where	where	SCONJ
fbem-10897	92	23	,	,	PUNCT
fbem-10897	92	24	α	α	PROPN
fbem-10897	92	25	and	and	CCONJ
fbem-10897	92	26	β	β	X
fbem-10897	92	27	are	be	AUX
fbem-10897	92	28	the	the	DET
fbem-10897	92	29	regression	regression	NOUN
fbem-10897	92	30	coefficient	coefficient	NOUN
fbem-10897	92	31	of	of	ADP
fbem-10897	92	32	the	the	DET
fbem-10897	92	33	formula	formula	NOUN
fbem-10897	92	34	,	,	PUNCT
fbem-10897	92	35	and	and	CCONJ
fbem-10897	92	36	ε	ε	PROPN
fbem-10897	92	37	is	be	AUX
fbem-10897	92	38	the	the	DET
fbem-10897	92	39	error	error	NOUN
fbem-10897	92	40	residual	residual	ADJ
fbem-10897	92	41	term	term	NOUN
fbem-10897	92	42	.	.	PUNCT
fbem-10897	93	1	during	during	ADP
fbem-10897	93	2	the	the	DET
fbem-10897	93	3	estimated	estimate	VERB
fbem-10897	93	4	period	period	NOUN
fbem-10897	93	5	[	[	X
fbem-10897	93	6	200	200	NUM
fbem-10897	93	7	,	,	PUNCT
fbem-10897	93	8	-15	-15	NUM
fbem-10897	93	9	)	)	PUNCT
fbem-10897	93	10	,	,	PUNCT
fbem-10897	93	11	linear	linear	ADJ
fbem-10897	93	12	regression	regression	NOUN
fbem-10897	93	13	is	be	AUX
fbem-10897	93	14	excel	excel	ADJ
fbem-10897	93	15	,	,	PUNCT
fbem-10897	93	16	the	the	DET
fbem-10897	93	17	regression	regression	NOUN
fbem-10897	93	18	coefficient	coefficient	NOUN
fbem-10897	93	19	α	α	PROPN
fbem-10897	93	20	and	and	CCONJ
fbem-10897	93	21	β	β	X
fbem-10897	93	22	can	can	AUX
fbem-10897	93	23	be	be	AUX
fbem-10897	93	24	obtained	obtain	VERB
fbem-10897	93	25	,	,	PUNCT
fbem-10897	93	26	and	and	CCONJ
fbem-10897	93	27	then	then	ADV
fbem-10897	93	28	the	the	DET
fbem-10897	93	29	regression	regression	NOUN
fbem-10897	93	30	function	function	NOUN
fbem-10897	93	31	is	be	AUX
fbem-10897	93	32	established	establish	VERB
fbem-10897	93	33	as	as	SCONJ
fbem-10897	93	34	shown	show	VERB
fbem-10897	93	35	in	in	ADP
fbem-10897	93	36	equation	equation	NOUN
fbem-10897	93	37	4	4	NUM
fbem-10897	93	38	-	-	SYM
fbem-10897	93	39	2	2	NUM
fbem-10897	93	40	:	:	PUNCT
fbem-10897	93	41	rit=0.9059rmt+0.0012(formula	rit=0.9059rmt+0.0012(formula	NOUN
fbem-10897	93	42	4	4	NUM
fbem-10897	93	43	-	-	SYM
fbem-10897	93	44	2	2	NUM
fbem-10897	93	45	)	)	PUNCT
fbem-10897	93	46	the	the	DET
fbem-10897	93	47	fitting	fitting	ADJ
fbem-10897	93	48	results	result	NOUN
fbem-10897	93	49	are	be	AUX
fbem-10897	93	50	shown	show	VERB
fbem-10897	93	51	in	in	ADP
fbem-10897	93	52	figure	figure	NOUN
fbem-10897	93	53	3	3	NUM
fbem-10897	93	54	:	:	PUNCT
fbem-10897	93	55	figure	figure	NOUN
fbem-10897	93	56	3	3	NUM
fbem-10897	93	57	.	.	PUNCT
fbem-10897	93	58	event	event	NOUN
fbem-10897	93	59	day	day	NOUN
fbem-10897	93	60	function	function	VERB
fbem-10897	93	61	fitting	fitting	ADJ
fbem-10897	93	62	fig	fig	NOUN
fbem-10897	93	63	next	next	ADV
fbem-10897	93	64	,	,	PUNCT
fbem-10897	93	65	according	accord	VERB
fbem-10897	93	66	to	to	ADP
fbem-10897	93	67	the	the	DET
fbem-10897	93	68	regression	regression	NOUN
fbem-10897	93	69	function	function	NOUN
fbem-10897	93	70	obtained	obtain	VERB
fbem-10897	93	71	from	from	ADP
fbem-10897	93	72	the	the	DET
fbem-10897	93	73	fitting	fitting	ADJ
fbem-10897	93	74	and	and	CCONJ
fbem-10897	93	75	the	the	DET
fbem-10897	93	76	market	market	NOUN
fbem-10897	93	77	return	return	NOUN
fbem-10897	93	78	rate	rate	NOUN
fbem-10897	93	79	of	of	ADP
fbem-10897	93	80	the	the	DET
fbem-10897	93	81	shanghai	shanghai	PROPN
fbem-10897	93	82	composite	composite	ADJ
fbem-10897	93	83	index	index	NOUN
fbem-10897	93	84	in	in	ADP
fbem-10897	93	85	the	the	DET
fbem-10897	93	86	window	window	NOUN
fbem-10897	93	87	period	period	NOUN
fbem-10897	93	88	,	,	PUNCT
fbem-10897	93	89	the	the	DET
fbem-10897	93	90	expected	expect	VERB
fbem-10897	93	91	market	market	NOUN
fbem-10897	93	92	return	return	NOUN
fbem-10897	93	93	rate	rate	NOUN
fbem-10897	93	94	r	r	NOUN
fbem-10897	93	95	of	of	ADP
fbem-10897	93	96	pelaya	pelaya	NOUN
fbem-10897	93	97	in	in	ADP
fbem-10897	93	98	the	the	DET
fbem-10897	93	99	window	window	NOUN
fbem-10897	93	100	period	period	NOUN
fbem-10897	93	101	is	be	AUX
fbem-10897	93	102	calculatedit	calculatedit	NOUN
fbem-10897	93	103	'	'	PUNCT
fbem-10897	93	104	,	,	PUNCT
fbem-10897	93	105	this	this	DET
fbem-10897	93	106	indicator	indicator	NOUN
fbem-10897	93	107	indicates	indicate	VERB
fbem-10897	93	108	the	the	DET
fbem-10897	93	109	market	market	NOUN
fbem-10897	93	110	return	return	NOUN
fbem-10897	93	111	that	that	PRON
fbem-10897	93	112	proya	proya	NOUN
fbem-10897	93	113	is	be	AUX
fbem-10897	93	114	expected	expect	VERB
fbem-10897	93	115	to	to	PART
fbem-10897	93	116	receive	receive	VERB
fbem-10897	93	117	during	during	ADP
fbem-10897	93	118	the	the	DET
fbem-10897	93	119	event	event	NOUN
fbem-10897	93	120	estimation	estimation	NOUN
fbem-10897	93	121	period	period	NOUN
fbem-10897	93	122	.	.	PUNCT
fbem-10897	94	1	subsequently	subsequently	ADV
fbem-10897	94	2	,	,	PUNCT
fbem-10897	94	3	by	by	ADP
fbem-10897	94	4	equations	equation	NOUN
fbem-10897	94	5	4	4	NUM
fbem-10897	94	6	-	-	SYM
fbem-10897	94	7	3	3	NUM
fbem-10897	94	8	and	and	CCONJ
fbem-10897	94	9	4	4	NUM
fbem-10897	94	10	-	-	SYM
fbem-10897	94	11	4	4	NUM
fbem-10897	94	12	,	,	PUNCT
fbem-10897	94	13	equations	equation	NOUN
fbem-10897	94	14	4	4	NUM
fbem-10897	94	15	-	-	SYM
fbem-10897	94	16	3	3	NUM
fbem-10897	94	17	and	and	CCONJ
fbem-10897	94	18	44ritand	44ritand	NOUN
fbem-10897	94	19	the	the	DET
fbem-10897	94	20	cumulative	cumulative	ADJ
fbem-10897	94	21	abnormal	abnormal	ADJ
fbem-10897	94	22	yield	yield	NOUN
fbem-10897	94	23	rate	rate	NOUN
fbem-10897	94	24	of	of	ADP
fbem-10897	94	25	car(t1,t2	car(t1,t2	PROPN
fbem-10897	94	26	)	)	PUNCT
fbem-10897	94	27	，	，	PUNCT
fbem-10897	94	28	to	to	PART
fbem-10897	94	29	help	help	VERB
fbem-10897	94	30	assess	assess	VERB
fbem-10897	94	31	the	the	DET
fbem-10897	94	32	relative	relative	ADJ
fbem-10897	94	33	performance	performance	NOUN
fbem-10897	94	34	of	of	ADP
fbem-10897	94	35	proya	proya	NOUN
fbem-10897	94	36	and	and	CCONJ
fbem-10897	94	37	its	its	PRON
fbem-10897	94	38	accumulated	accumulate	VERB
fbem-10897	94	39	earnings	earning	NOUN
fbem-10897	94	40	during	during	ADP
fbem-10897	94	41	the	the	DET
fbem-10897	94	42	window	window	NOUN
fbem-10897	94	43	period	period	NOUN
fbem-10897	94	44	.	.	PUNCT
fbem-10897	95	1	arit	arit	PROPN
fbem-10897	95	2	=	=	NOUN
fbem-10897	95	3	rit	rit	NOUN
fbem-10897	95	4	-	-	PUNCT
fbem-10897	95	5	rit’(formula	rit’(formula	NOUN
fbem-10897	95	6	4	4	NUM
fbem-10897	95	7	-	-	SYM
fbem-10897	95	8	3	3	NUM
fbem-10897	95	9	)	)	PUNCT
fbem-10897	95	10	car(t1,t2)=	car(t1,t2)=	NOUN
fbem-10897	95	11	it(formula	it(formula	VERB
fbem-10897	95	12	4	4	NUM
fbem-10897	95	13	-	-	SYM
fbem-10897	95	14	4	4	NUM
fbem-10897	95	15	)	)	PUNCT
fbem-10897	95	16	rit	rit	NOUN
fbem-10897	95	17	:	:	PUNCT
fbem-10897	95	18	actual	actual	ADJ
fbem-10897	95	19	rate	rate	NOUN
fbem-10897	95	20	of	of	ADP
fbem-10897	95	21	return	return	NOUN
fbem-10897	95	22	of	of	ADP
fbem-10897	95	23	proya	proya	NOUN
fbem-10897	95	24	during	during	ADP
fbem-10897	95	25	the	the	DET
fbem-10897	95	26	event	event	NOUN
fbem-10897	95	27	window	window	NOUN
fbem-10897	95	28	,	,	PUNCT
fbem-10897	95	29	car	car	NOUN
fbem-10897	95	30	(	(	PUNCT
fbem-10897	95	31	t1	t1	NOUN
fbem-10897	95	32	,	,	PUNCT
fbem-10897	95	33	t2	t2	PROPN
fbem-10897	95	34	):	):	PUNCT
fbem-10897	95	35	the	the	DET
fbem-10897	95	36	sum	sum	NOUN
fbem-10897	95	37	of	of	ADP
fbem-10897	95	38	abnormal	abnormal	ADJ
fbem-10897	95	39	rate	rate	NOUN
fbem-10897	95	40	of	of	ADP
fbem-10897	95	41	return	return	NOUN
fbem-10897	95	42	from	from	ADP
fbem-10897	95	43	t1	t1	NOUN
fbem-10897	95	44	to	to	ADP
fbem-10897	95	45	t2	t2	NOUN
fbem-10897	95	46	.	.	PUNCT
fbem-10897	96	1	the	the	DET
fbem-10897	96	2	calculation	calculation	NOUN
fbem-10897	96	3	results	result	NOUN
fbem-10897	96	4	are	be	AUX
fbem-10897	96	5	shown	show	VERB
fbem-10897	96	6	in	in	ADP
fbem-10897	96	7	table	table	NOUN
fbem-10897	96	8	1	1	NUM
fbem-10897	96	9	:	:	PUNCT
fbem-10897	96	10	y	y	NOUN
fbem-10897	96	11	=	=	SYM
fbem-10897	96	12	0.9059x	0.9059x	PROPN
fbem-10897	96	13	+	+	NOUN
fbem-10897	96	14	0.0012	0.0012	NUM
fbem-10897	96	15	r²	r²	NOUN
fbem-10897	96	16	=	=	SYM
fbem-10897	96	17	0.2087	0.2087	NUM
fbem-10897	96	18	-8.00	-8.00	NUM
fbem-10897	96	19	%	%	NOUN
fbem-10897	96	20	-6.00	-6.00	NUM
fbem-10897	96	21	%	%	NOUN
fbem-10897	96	22	-4.00	-4.00	NUM
fbem-10897	96	23	%	%	NOUN
fbem-10897	96	24	-2.00	-2.00	NUM
fbem-10897	96	25	%	%	NOUN
fbem-10897	96	26	0.00	0.00	NUM
fbem-10897	96	27	%	%	NOUN
fbem-10897	96	28	2.00	2.00	NUM
fbem-10897	96	29	%	%	NOUN
fbem-10897	96	30	4.00	4.00	NUM
fbem-10897	96	31	%	%	NOUN
fbem-10897	96	32	6.00	6.00	NUM
fbem-10897	96	33	%	%	NOUN
fbem-10897	96	34	8.00	8.00	NUM
fbem-10897	96	35	%	%	NOUN
fbem-10897	96	36	10.00	10.00	NUM
fbem-10897	96	37	%	%	NOUN
fbem-10897	96	38	-6.00	-6.00	NUM
fbem-10897	96	39	%	%	NOUN
fbem-10897	96	40	-5.00	-5.00	NUM
fbem-10897	96	41	%	%	NOUN
fbem-10897	96	42	-4.00	-4.00	NUM
fbem-10897	96	43	%	%	NOUN
fbem-10897	96	44	-3.00	-3.00	NUM
fbem-10897	96	45	%	%	NOUN
fbem-10897	96	46	-2.00	-2.00	NUM
fbem-10897	96	47	%	%	NOUN
fbem-10897	96	48	-1.00	-1.00	NUM
fbem-10897	96	49	%	%	NOUN
fbem-10897	96	50	0.00	0.00	NUM
fbem-10897	96	51	%	%	NOUN
fbem-10897	96	52	1.00	1.00	NUM
fbem-10897	96	53	%	%	NOUN
fbem-10897	96	54	2.00	2.00	NUM
fbem-10897	96	55	%	%	NOUN
fbem-10897	96	56	3.00	3.00	NUM
fbem-10897	96	57	%	%	NOUN
fbem-10897	96	58	4.00	4.00	NUM
fbem-10897	96	59	%	%	NOUN
fbem-10897	96	60	peraiya	peraiya	NOUN
fbem-10897	96	61	yield	yield	NOUN
fbem-10897	96	62	152	152	NUM
fbem-10897	96	63	table	table	NOUN
fbem-10897	96	64	1	1	NUM
fbem-10897	96	65	.	.	PUNCT
fbem-10897	97	1	data	datum	NOUN
fbem-10897	97	2	chart	chart	NOUN
fbem-10897	97	3	of	of	ADP
fbem-10897	97	4	various	various	ADJ
fbem-10897	97	5	indicators	indicator	NOUN
fbem-10897	97	6	in	in	ADP
fbem-10897	97	7	the	the	DET
fbem-10897	97	8	window	window	NOUN
fbem-10897	97	9	period	period	NOUN
fbem-10897	97	10	of	of	ADP
fbem-10897	97	11	proya	proya	ADJ
fbem-10897	97	12	event	event	NOUN
fbem-10897	97	13	time	time	NOUN
fbem-10897	97	14	point	point	NOUN
fbem-10897	97	15	(	(	PUNCT
fbem-10897	97	16	t	t	NOUN
fbem-10897	97	17	)	)	PUNCT
fbem-10897	97	18	effective	effective	ADJ
fbem-10897	97	19	yield	yield	NOUN
fbem-10897	97	20	(	(	PUNCT
fbem-10897	97	21	rit	rit	PROPN
fbem-10897	97	22	）	）	PROPN
fbem-10897	97	23	expected	expect	VERB
fbem-10897	97	24	yield	yield	NOUN
fbem-10897	97	25	(	(	PUNCT
fbem-10897	97	26	rit	rit	NOUN
fbem-10897	97	27	’	'	PUNCT
fbem-10897	97	28	）	）	SYM
fbem-10897	97	29	abnormal	abnormal	ADJ
fbem-10897	97	30	yield	yield	NOUN
fbem-10897	97	31	(	(	PUNCT
fbem-10897	97	32	arit	arit	PROPN
fbem-10897	97	33	）	）	SYM
fbem-10897	97	34	cumulative	cumulative	ADJ
fbem-10897	97	35	abnormal	abnormal	ADJ
fbem-10897	97	36	return	return	NOUN
fbem-10897	97	37	rate	rate	NOUN
fbem-10897	97	38	(	(	PUNCT
fbem-10897	97	39	car(t1,t2	car(t1,t2	PROPN
fbem-10897	97	40	)	)	PUNCT
fbem-10897	97	41	）	）	PUNCT
fbem-10897	97	42	-15	-15	PUNCT
fbem-10897	98	1	0.50	0.50	NUM
fbem-10897	98	2	%	%	NOUN
fbem-10897	98	3	-1.31	-1.31	NUM
fbem-10897	98	4	%	%	NOUN
fbem-10897	98	5	1.81	1.81	NUM
fbem-10897	98	6	%	%	NOUN
fbem-10897	98	7	1.81	1.81	NUM
fbem-10897	98	8	%	%	NOUN
fbem-10897	98	9	-14	-14	NUM
fbem-10897	98	10	1.30	1.30	NUM
fbem-10897	98	11	%	%	NOUN
fbem-10897	98	12	0.00	0.00	NUM
fbem-10897	98	13	%	%	NOUN
fbem-10897	98	14	1.30	1.30	NUM
fbem-10897	98	15	%	%	NOUN
fbem-10897	98	16	3.10	3.10	NUM
fbem-10897	98	17	%	%	NOUN
fbem-10897	98	18	-13	-13	PUNCT
fbem-10897	98	19	-0.35	-0.35	NUM
fbem-10897	98	20	%	%	NOUN
fbem-10897	98	21	-0.38	-0.38	NOUN
fbem-10897	98	22	%	%	NOUN
fbem-10897	98	23	0.03	0.03	NUM
fbem-10897	98	24	%	%	NOUN
fbem-10897	98	25	3.14	3.14	NUM
fbem-10897	98	26	%	%	NOUN
fbem-10897	98	27	-12	-12	NUM
fbem-10897	98	28	3.71	3.71	NUM
fbem-10897	98	29	%	%	NOUN
fbem-10897	98	30	-1.38	-1.38	NOUN
fbem-10897	98	31	%	%	NOUN
fbem-10897	98	32	5.10	5.10	NUM
fbem-10897	98	33	%	%	NOUN
fbem-10897	98	34	8.23	8.23	NUM
fbem-10897	98	35	%	%	NOUN
fbem-10897	98	36	-11	-11	PUNCT
fbem-10897	98	37	0.89	0.89	NUM
fbem-10897	98	38	%	%	NOUN
fbem-10897	98	39	0.29	0.29	NUM
fbem-10897	98	40	%	%	NOUN
fbem-10897	98	41	0.60	0.60	NUM
fbem-10897	98	42	%	%	NOUN
fbem-10897	98	43	8.83	8.83	NUM
fbem-10897	98	44	%	%	NOUN
fbem-10897	98	45	-10	-10	NUM
fbem-10897	98	46	0.48	0.48	NUM
fbem-10897	98	47	%	%	NOUN
fbem-10897	98	48	1.51	1.51	NUM
fbem-10897	98	49	%	%	NOUN
fbem-10897	98	50	-1.03	-1.03	NUM
fbem-10897	98	51	%	%	NOUN
fbem-10897	98	52	7.80	7.80	NUM
fbem-10897	98	53	%	%	NOUN
fbem-10897	98	54	-9	-9	INTJ
fbem-10897	98	55	-0.71	-0.71	NOUN
fbem-10897	98	56	%	%	NOUN
fbem-10897	98	57	-0.15	-0.15	NUM
fbem-10897	98	58	%	%	NOUN
fbem-10897	98	59	-0.56	-0.56	NUM
fbem-10897	98	60	%	%	NOUN
fbem-10897	98	61	7.24	7.24	NUM
fbem-10897	98	62	%	%	NOUN
fbem-10897	98	63	-8	-8	NOUN
fbem-10897	98	64	1.88	1.88	NUM
fbem-10897	98	65	%	%	NOUN
fbem-10897	98	66	1.79	1.79	NUM
fbem-10897	98	67	%	%	NOUN
fbem-10897	98	68	0.08	0.08	NUM
fbem-10897	98	69	%	%	NOUN
fbem-10897	98	70	7.33	7.33	NUM
fbem-10897	98	71	%	%	NOUN
fbem-10897	98	72	-7	-7	NOUN
fbem-10897	98	73	1.21	1.21	NUM
fbem-10897	98	74	%	%	NOUN
fbem-10897	98	75	0.50	0.50	NUM
fbem-10897	98	76	%	%	NOUN
fbem-10897	98	77	0.71	0.71	NUM
fbem-10897	98	78	%	%	NOUN
fbem-10897	98	79	8.04	8.04	NUM
fbem-10897	98	80	%	%	NOUN
fbem-10897	98	81	-6	-6	NOUN
fbem-10897	98	82	-2.76	-2.76	NUM
fbem-10897	98	83	%	%	NOUN
fbem-10897	98	84	0.00	0.00	NUM
fbem-10897	98	85	%	%	NOUN
fbem-10897	98	86	-2.76	-2.76	NUM
fbem-10897	98	87	%	%	NOUN
fbem-10897	98	88	5.27	5.27	NUM
fbem-10897	98	89	%	%	NOUN
fbem-10897	98	90	-5	-5	NOUN
fbem-10897	98	91	0.53	0.53	NUM
fbem-10897	98	92	%	%	NOUN
fbem-10897	98	93	-0.96	-0.96	NUM
fbem-10897	98	94	%	%	NOUN
fbem-10897	98	95	1.49	1.49	NUM
fbem-10897	98	96	%	%	NOUN
fbem-10897	98	97	6.76	6.76	NUM
fbem-10897	98	98	%	%	NOUN
fbem-10897	98	99	-4	-4	NOUN
fbem-10897	98	100	0.89	0.89	NUM
fbem-10897	98	101	%	%	NOUN
fbem-10897	98	102	-0.16	-0.16	NUM
fbem-10897	98	103	%	%	NOUN
fbem-10897	98	104	1.04	1.04	NUM
fbem-10897	98	105	%	%	NOUN
fbem-10897	98	106	7.81	7.81	NUM
fbem-10897	98	107	%	%	NOUN
fbem-10897	98	108	-3	-3	PUNCT
fbem-10897	98	109	-1.36	-1.36	NUM
fbem-10897	98	110	%	%	NOUN
fbem-10897	98	111	0.24	0.24	NUM
fbem-10897	98	112	%	%	NOUN
fbem-10897	98	113	-1.60	-1.60	ADJ
fbem-10897	98	114	%	%	NOUN
fbem-10897	98	115	6.21	6.21	NUM
fbem-10897	98	116	%	%	NOUN
fbem-10897	98	117	-2	-2	NOUN
fbem-10897	98	118	-6.03	-6.03	NUM
fbem-10897	98	119	%	%	NOUN
fbem-10897	98	120	-1.71	-1.71	ADJ
fbem-10897	98	121	%	%	NOUN
fbem-10897	98	122	-4.32	-4.32	NUM
fbem-10897	98	123	%	%	NOUN
fbem-10897	98	124	1.88	1.88	NUM
fbem-10897	98	125	%	%	NOUN
fbem-10897	98	126	-1	-1	ADP
fbem-10897	98	127	-0.22	-0.22	NUM
fbem-10897	98	128	%	%	NOUN
fbem-10897	98	129	0.08	0.08	NUM
fbem-10897	98	130	%	%	NOUN
fbem-10897	98	131	-0.31	-0.31	NUM
fbem-10897	98	132	%	%	NOUN
fbem-10897	98	133	1.58	1.58	NUM
fbem-10897	98	134	%	%	NOUN
fbem-10897	98	135	0	0	NUM
fbem-10897	98	136	8.91	8.91	NUM
fbem-10897	98	137	%	%	NOUN
fbem-10897	98	138	0.83	0.83	NUM
fbem-10897	98	139	%	%	NOUN
fbem-10897	98	140	8.08	8.08	NUM
fbem-10897	98	141	%	%	NOUN
fbem-10897	98	142	9.66	9.66	NUM
fbem-10897	98	143	%	%	NOUN
fbem-10897	98	144	1	1	NUM
fbem-10897	98	145	-6.12	-6.12	NUM
fbem-10897	98	146	%	%	NOUN
fbem-10897	98	147	-0.38	-0.38	NOUN
fbem-10897	98	148	%	%	NOUN
fbem-10897	98	149	-5.74	-5.74	NUM
fbem-10897	98	150	%	%	NOUN
fbem-10897	98	151	3.92	3.92	NUM
fbem-10897	98	152	%	%	NOUN
fbem-10897	98	153	2	2	NUM
fbem-10897	98	154	1.79	1.79	NUM
fbem-10897	98	155	%	%	NOUN
fbem-10897	98	156	-1.91	-1.91	NUM
fbem-10897	98	157	%	%	NOUN
fbem-10897	98	158	3.70	3.70	NUM
fbem-10897	98	159	%	%	NOUN
fbem-10897	98	160	7.62	7.62	NUM
fbem-10897	98	161	%	%	NOUN
fbem-10897	98	162	3	3	NUM
fbem-10897	98	163	0.41	0.41	NUM
fbem-10897	98	164	%	%	NOUN
fbem-10897	98	165	-0.58	-0.58	NUM
fbem-10897	98	166	%	%	NOUN
fbem-10897	98	167	0.99	0.99	NUM
fbem-10897	98	168	%	%	NOUN
fbem-10897	98	169	8.61	8.61	NUM
fbem-10897	98	170	%	%	NOUN
fbem-10897	98	171	4	4	NUM
fbem-10897	98	172	2.20	2.20	NUM
fbem-10897	98	173	%	%	NOUN
fbem-10897	98	174	2.49	2.49	NUM
fbem-10897	98	175	%	%	NOUN
fbem-10897	98	176	-0.29	-0.29	NOUN
fbem-10897	98	177	%	%	NOUN
fbem-10897	98	178	8.33	8.33	NUM
fbem-10897	98	179	%	%	NOUN
fbem-10897	98	180	5	5	NUM
fbem-10897	98	181	3.71	3.71	NUM
fbem-10897	98	182	%	%	NOUN
fbem-10897	98	183	1.16	1.16	NUM
fbem-10897	98	184	%	%	NOUN
fbem-10897	98	185	2.54	2.54	NUM
fbem-10897	98	186	%	%	NOUN
fbem-10897	98	187	10.87	10.87	NUM
fbem-10897	98	188	%	%	NOUN
fbem-10897	98	189	6	6	NUM
fbem-10897	98	190	-2.27	-2.27	NUM
fbem-10897	98	191	%	%	NOUN
fbem-10897	98	192	-0.05	-0.05	NUM
fbem-10897	98	193	%	%	NOUN
fbem-10897	98	194	-2.22	-2.22	NOUN
fbem-10897	98	195	%	%	NOUN
fbem-10897	98	196	8.65	8.65	NUM
fbem-10897	98	197	%	%	NOUN
fbem-10897	98	198	7	7	NUM
fbem-10897	98	199	1.57	1.57	NUM
fbem-10897	98	200	%	%	NOUN
fbem-10897	98	201	2.33	2.33	NUM
fbem-10897	98	202	%	%	NOUN
fbem-10897	98	203	-0.76	-0.76	NUM
fbem-10897	98	204	%	%	NOUN
fbem-10897	98	205	7.89	7.89	NUM
fbem-10897	98	206	%	%	NOUN
fbem-10897	98	207	8	8	NUM
fbem-10897	98	208	0.05	0.05	NUM
fbem-10897	98	209	%	%	NOUN
fbem-10897	98	210	0.33	0.33	NUM
fbem-10897	98	211	%	%	NOUN
fbem-10897	98	212	-0.28	-0.28	NUM
fbem-10897	98	213	%	%	NOUN
fbem-10897	98	214	7.61	7.61	NUM
fbem-10897	98	215	%	%	NOUN
fbem-10897	98	216	9	9	NUM
fbem-10897	98	217	0.02	0.02	NUM
fbem-10897	98	218	%	%	NOUN
fbem-10897	98	219	-0.27	-0.27	NOUN
fbem-10897	98	220	%	%	NOUN
fbem-10897	98	221	0.30	0.30	NUM
fbem-10897	98	222	%	%	NOUN
fbem-10897	98	223	7.91	7.91	NUM
fbem-10897	98	224	%	%	NOUN
fbem-10897	98	225	10	10	NUM
fbem-10897	98	226	-1.51	-1.51	NUM
fbem-10897	98	227	%	%	NOUN
fbem-10897	98	228	-0.36	-0.36	NOUN
fbem-10897	98	229	%	%	NOUN
fbem-10897	98	230	-1.15	-1.15	NOUN
fbem-10897	98	231	%	%	NOUN
fbem-10897	98	232	6.76	6.76	NUM
fbem-10897	98	233	%	%	NOUN
fbem-10897	98	234	11	11	NUM
fbem-10897	98	235	0.39	0.39	NUM
fbem-10897	98	236	%	%	NOUN
fbem-10897	98	237	-0.24	-0.24	NOUN
fbem-10897	98	238	%	%	NOUN
fbem-10897	98	239	0.63	0.63	NUM
fbem-10897	98	240	%	%	NOUN
fbem-10897	98	241	7.39	7.39	NUM
fbem-10897	98	242	%	%	NOUN
fbem-10897	98	243	12	12	NUM
fbem-10897	98	244	-1.14	-1.14	NOUN
fbem-10897	98	245	%	%	NOUN
fbem-10897	98	246	1.65	1.65	NUM
fbem-10897	98	247	%	%	NOUN
fbem-10897	98	248	-2.78	-2.78	NOUN
fbem-10897	98	249	%	%	NOUN
fbem-10897	98	250	4.60	4.60	NUM
fbem-10897	98	251	%	%	NOUN
fbem-10897	98	252	13	13	NUM
fbem-10897	98	253	-4.21	-4.21	NUM
fbem-10897	98	254	%	%	NOUN
fbem-10897	98	255	0.01	0.01	NUM
fbem-10897	98	256	%	%	NOUN
fbem-10897	98	257	-4.21	-4.21	NUM
fbem-10897	98	258	%	%	NOUN
fbem-10897	98	259	0.39	0.39	NUM
fbem-10897	98	260	%	%	NOUN
fbem-10897	98	261	14	14	NUM
fbem-10897	98	262	3.04	3.04	NUM
fbem-10897	98	263	%	%	NOUN
fbem-10897	98	264	1.61	1.61	NUM
fbem-10897	98	265	%	%	NOUN
fbem-10897	98	266	1.43	1.43	NUM
fbem-10897	98	267	%	%	NOUN
fbem-10897	98	268	1.82	1.82	NUM
fbem-10897	98	269	%	%	NOUN
fbem-10897	98	270	15	15	NUM
fbem-10897	98	271	-0.94	-0.94	NUM
fbem-10897	98	272	%	%	NOUN
fbem-10897	98	273	-0.29	-0.29	ADJ
fbem-10897	98	274	%	%	NOUN
fbem-10897	98	275	-0.65	-0.65	NUM
fbem-10897	98	276	%	%	NOUN
fbem-10897	98	277	1.17	1.17	NUM
fbem-10897	98	278	%	%	NOUN
fbem-10897	98	279	according	accord	VERB
fbem-10897	98	280	to	to	ADP
fbem-10897	98	281	the	the	DET
fbem-10897	98	282	above	above	ADJ
fbem-10897	98	283	index	index	NOUN
fbem-10897	98	284	data	datum	NOUN
fbem-10897	98	285	chart	chart	NOUN
fbem-10897	98	286	,	,	PUNCT
fbem-10897	98	287	the	the	DET
fbem-10897	98	288	line	line	NOUN
fbem-10897	98	289	chart	chart	NOUN
fbem-10897	98	290	of	of	ADP
fbem-10897	98	291	the	the	DET
fbem-10897	98	292	abnormal	abnormal	ADJ
fbem-10897	98	293	return	return	NOUN
fbem-10897	98	294	rate	rate	NOUN
fbem-10897	98	295	and	and	CCONJ
fbem-10897	98	296	the	the	DET
fbem-10897	98	297	cumulative	cumulative	ADJ
fbem-10897	98	298	abnormal	abnormal	ADJ
fbem-10897	98	299	return	return	NOUN
fbem-10897	98	300	rate	rate	NOUN
fbem-10897	98	301	during	during	ADP
fbem-10897	98	302	the	the	DET
fbem-10897	98	303	event	event	NOUN
fbem-10897	98	304	window	window	NOUN
fbem-10897	98	305	is	be	AUX
fbem-10897	98	306	obtained	obtain	VERB
fbem-10897	98	307	,	,	PUNCT
fbem-10897	98	308	as	as	SCONJ
fbem-10897	98	309	shown	show	VERB
fbem-10897	98	310	in	in	ADP
fbem-10897	98	311	figure	figure	NOUN
fbem-10897	98	312	4	4	NUM
fbem-10897	98	313	:	:	PUNCT
fbem-10897	98	314	figure	figure	NOUN
fbem-10897	98	315	4	4	NUM
fbem-10897	98	316	.	.	PUNCT
fbem-10897	99	1	change	change	NOUN
fbem-10897	99	2	of	of	ADP
fbem-10897	99	3	abnormal	abnormal	ADJ
fbem-10897	99	4	rate	rate	NOUN
fbem-10897	99	5	of	of	ADP
fbem-10897	99	6	return	return	NOUN
fbem-10897	99	7	and	and	CCONJ
fbem-10897	99	8	cumulative	cumulative	ADJ
fbem-10897	99	9	abnormal	abnormal	ADJ
fbem-10897	99	10	rate	rate	NOUN
fbem-10897	99	11	of	of	ADP
fbem-10897	99	12	return	return	NOUN
fbem-10897	99	13	in	in	ADP
fbem-10897	99	14	the	the	DET
fbem-10897	99	15	window	window	NOUN
fbem-10897	99	16	period	period	NOUN
fbem-10897	99	17	as	as	SCONJ
fbem-10897	99	18	can	can	AUX
fbem-10897	99	19	be	be	AUX
fbem-10897	99	20	observed	observe	VERB
fbem-10897	99	21	from	from	ADP
fbem-10897	99	22	figure	figure	NOUN
fbem-10897	99	23	4	4	NUM
fbem-10897	99	24	,	,	PUNCT
fbem-10897	99	25	praya	praya	PROPN
fbem-10897	99	26	showed	show	VERB
fbem-10897	99	27	a	a	DET
fbem-10897	99	28	very	very	ADV
fbem-10897	99	29	significant	significant	ADJ
fbem-10897	99	30	positive	positive	ADJ
fbem-10897	99	31	and	and	CCONJ
fbem-10897	99	32	abnormal	abnormal	ADJ
fbem-10897	99	33	yield	yield	NOUN
fbem-10897	99	34	change	change	NOUN
fbem-10897	99	35	on	on	ADP
fbem-10897	99	36	the	the	DET
fbem-10897	99	37	day	day	NOUN
fbem-10897	99	38	of	of	ADP
fbem-10897	99	39	the	the	DET
fbem-10897	99	40	event	event	NOUN
fbem-10897	99	41	,	,	PUNCT
fbem-10897	99	42	reaching	reach	VERB
fbem-10897	99	43	8.08	8.08	NUM
fbem-10897	99	44	%	%	NOUN
fbem-10897	99	45	.	.	PUNCT
fbem-10897	100	1	the	the	DET
fbem-10897	100	2	day	day	NOUN
fbem-10897	100	3	after	after	SCONJ
fbem-10897	100	4	the	the	DET
fbem-10897	100	5	upgrade	upgrade	NOUN
fbem-10897	100	6	occurred	occur	VERB
fbem-10897	100	7	,	,	PUNCT
fbem-10897	100	8	its	its	PRON
fbem-10897	100	9	abnormal	abnormal	ADJ
fbem-10897	100	10	yields	yield	NOUN
fbem-10897	100	11	fell	fall	VERB
fbem-10897	100	12	.	.	PUNCT
fbem-10897	101	1	however	however	ADV
fbem-10897	101	2	,	,	PUNCT
fbem-10897	101	3	over	over	ADP
fbem-10897	101	4	the	the	DET
fbem-10897	101	5	next	next	ADJ
fbem-10897	101	6	four	four	NUM
fbem-10897	101	7	consecutive	consecutive	ADJ
fbem-10897	101	8	days	day	NOUN
fbem-10897	101	9	,	,	PUNCT
fbem-10897	101	10	the	the	DET
fbem-10897	101	11	abnormal	abnormal	ADJ
fbem-10897	101	12	yield	yield	NOUN
fbem-10897	101	13	showed	show	VERB
fbem-10897	101	14	a	a	DET
fbem-10897	101	15	continuous	continuous	ADJ
fbem-10897	101	16	positive	positive	ADJ
fbem-10897	101	17	change	change	NOUN
fbem-10897	101	18	,	,	PUNCT
fbem-10897	101	19	until	until	ADP
fbem-10897	101	20	the	the	DET
fbem-10897	101	21	fifth	fifth	ADJ
fbem-10897	101	22	day	day	NOUN
fbem-10897	101	23	of	of	ADP
fbem-10897	101	24	the	the	DET
fbem-10897	101	25	upgrade	upgrade	NOUN
fbem-10897	101	26	event	event	NOUN
fbem-10897	101	27	,	,	PUNCT
fbem-10897	101	28	when	when	SCONJ
fbem-10897	101	29	the	the	DET
fbem-10897	101	30	cumulative	cumulative	ADJ
fbem-10897	101	31	excess	excess	ADJ
fbem-10897	101	32	yield	yield	NOUN
fbem-10897	101	33	reached	reach	VERB
fbem-10897	101	34	a	a	DET
fbem-10897	101	35	peak	peak	NOUN
fbem-10897	101	36	of	of	ADP
fbem-10897	101	37	10.87	10.87	NUM
fbem-10897	101	38	%	%	NOUN
fbem-10897	101	39	.	.	PUNCT
fbem-10897	102	1	the	the	DET
fbem-10897	102	2	data	datum	NOUN
fbem-10897	102	3	show	show	VERB
fbem-10897	102	4	that	that	SCONJ
fbem-10897	102	5	investors	investor	NOUN
fbem-10897	102	6	reacted	react	VERB
fbem-10897	102	7	strongly	strongly	ADV
fbem-10897	102	8	on	on	ADP
fbem-10897	102	9	the	the	DET
fbem-10897	102	10	day	day	NOUN
fbem-10897	102	11	of	of	ADP
fbem-10897	102	12	the	the	DET
fbem-10897	102	13	esg	esg	PROPN
fbem-10897	102	14	upgrade	upgrade	NOUN
fbem-10897	102	15	,	,	PUNCT
fbem-10897	102	16	showing	show	VERB
fbem-10897	102	17	a	a	DET
fbem-10897	102	18	strong	strong	ADJ
fbem-10897	102	19	positive	positive	ADJ
fbem-10897	102	20	trend	trend	NOUN
fbem-10897	102	21	.	.	PUNCT
fbem-10897	103	1	it	it	PRON
fbem-10897	103	2	can	can	AUX
fbem-10897	103	3	be	be	AUX
fbem-10897	103	4	said	say	VERB
fbem-10897	103	5	that	that	SCONJ
fbem-10897	103	6	in	in	ADP
fbem-10897	103	7	the	the	DET
fbem-10897	103	8	short	short	ADJ
fbem-10897	103	9	term	term	NOUN
fbem-10897	103	10	after	after	ADP
fbem-10897	103	11	the	the	DET
fbem-10897	103	12	esg	esg	PROPN
fbem-10897	103	13	rating	rating	NOUN
fbem-10897	103	14	upgrade	upgrade	NOUN
fbem-10897	103	15	event	event	NOUN
fbem-10897	103	16	,	,	PUNCT
fbem-10897	103	17	it	it	PRON
fbem-10897	103	18	had	have	VERB
fbem-10897	103	19	a	a	DET
fbem-10897	103	20	positive	positive	ADJ
fbem-10897	103	21	impact	impact	NOUN
fbem-10897	103	22	on	on	ADP
fbem-10897	103	23	proya	proya	PROPN
fbem-10897	103	24	's	's	PART
fbem-10897	103	25	stock	stock	NOUN
fbem-10897	103	26	price	price	NOUN
fbem-10897	103	27	,	,	PUNCT
fbem-10897	103	28	increasing	increase	VERB
fbem-10897	103	29	the	the	DET
fbem-10897	103	30	short	short	ADJ
fbem-10897	103	31	-	-	PUNCT
fbem-10897	103	32	term	term	NOUN
fbem-10897	103	33	market	market	NOUN
fbem-10897	103	34	value	value	NOUN
fbem-10897	103	35	of	of	ADP
fbem-10897	103	36	proya	proya	NOUN
fbem-10897	103	37	to	to	ADP
fbem-10897	103	38	some	some	DET
fbem-10897	103	39	extent	extent	NOUN
fbem-10897	103	40	.	.	PUNCT
fbem-10897	104	1	4.2	4.2	NUM
fbem-10897	104	2	.	.	PUNCT
fbem-10897	105	1	analysis	analysis	NOUN
fbem-10897	105	2	of	of	ADP
fbem-10897	105	3	enterprise	enterprise	NOUN
fbem-10897	105	4	value	value	NOUN
fbem-10897	105	5	changes	change	NOUN
fbem-10897	105	6	based	base	VERB
fbem-10897	105	7	on	on	ADP
fbem-10897	105	8	tobin	tobin	PROPN
fbem-10897	105	9	q	q	PROPN
fbem-10897	105	10	the	the	DET
fbem-10897	105	11	valuation	valuation	NOUN
fbem-10897	105	12	level	level	NOUN
fbem-10897	105	13	of	of	ADP
fbem-10897	105	14	enterprises	enterprise	NOUN
fbem-10897	105	15	in	in	ADP
fbem-10897	105	16	the	the	DET
fbem-10897	105	17	market	market	NOUN
fbem-10897	105	18	is	be	AUX
fbem-10897	105	19	often	often	ADV
fbem-10897	105	20	evaluated	evaluate	VERB
fbem-10897	105	21	by	by	ADP
fbem-10897	105	22	the	the	DET
fbem-10897	105	23	tobin	tobin	PROPN
fbem-10897	105	24	q	q	PROPN
fbem-10897	105	25	value	value	NOUN
fbem-10897	105	26	,	,	PUNCT
fbem-10897	105	27	which	which	PRON
fbem-10897	105	28	is	be	AUX
fbem-10897	105	29	a	a	DET
fbem-10897	105	30	very	very	ADV
fbem-10897	105	31	commonly	commonly	ADV
fbem-10897	105	32	used	use	VERB
fbem-10897	105	33	indicator	indicator	NOUN
fbem-10897	105	34	.	.	PUNCT
fbem-10897	106	1	the	the	DET
fbem-10897	106	2	basic	basic	ADJ
fbem-10897	106	3	principle	principle	NOUN
fbem-10897	106	4	is	be	AUX
fbem-10897	106	5	to	to	PART
fbem-10897	106	6	compare	compare	VERB
fbem-10897	106	7	the	the	DET
fbem-10897	106	8	market	market	NOUN
fbem-10897	106	9	value	value	NOUN
fbem-10897	106	10	of	of	ADP
fbem-10897	106	11	the	the	DET
fbem-10897	106	12	company	company	NOUN
fbem-10897	106	13	with	with	ADP
fbem-10897	106	14	its	its	PRON
fbem-10897	106	15	replacement	replacement	NOUN
fbem-10897	106	16	cost	cost	NOUN
fbem-10897	106	17	.	.	PUNCT
fbem-10897	107	1	when	when	SCONJ
fbem-10897	107	2	the	the	DET
fbem-10897	107	3	ratio	ratio	NOUN
fbem-10897	107	4	of	of	ADP
fbem-10897	107	5	the	the	DET
fbem-10897	107	6	two	two	NUM
fbem-10897	107	7	is	be	AUX
fbem-10897	107	8	greater	great	ADJ
fbem-10897	107	9	than	than	ADP
fbem-10897	107	10	1	1	NUM
fbem-10897	107	11	,	,	PUNCT
fbem-10897	107	12	the	the	DET
fbem-10897	107	13	market	market	NOUN
fbem-10897	107	14	value	value	NOUN
fbem-10897	107	15	of	of	ADP
fbem-10897	107	16	the	the	DET
fbem-10897	107	17	-10.00	-10.00	PROPN
fbem-10897	107	18	%	%	NOUN
fbem-10897	107	19	-5.00	-5.00	NUM
fbem-10897	107	20	%	%	NOUN
fbem-10897	107	21	0.00	0.00	NUM
fbem-10897	107	22	%	%	NOUN
fbem-10897	107	23	5.00	5.00	NUM
fbem-10897	107	24	%	%	NOUN
fbem-10897	107	25	10.00	10.00	NUM
fbem-10897	107	26	%	%	NOUN
fbem-10897	107	27	15.00	15.00	NUM
fbem-10897	107	28	%	%	NOUN
fbem-10897	107	29	-1	-1	ADP
fbem-10897	107	30	5	5	NUM
fbem-10897	107	31	-1	-1	SYM
fbem-10897	107	32	4	4	NUM
fbem-10897	107	33	-1	-1	SYM
fbem-10897	107	34	3	3	NUM
fbem-10897	107	35	-1	-1	SYM
fbem-10897	107	36	2	2	NUM
fbem-10897	107	37	-1	-1	SYM
fbem-10897	107	38	1	1	NUM
fbem-10897	107	39	-1	-1	SYM
fbem-10897	107	40	0	0	NUM
fbem-10897	108	1	-9	-9	NOUN
fbem-10897	108	2	-8	-8	INTJ
fbem-10897	109	1	-7	-7	INTJ
fbem-10897	110	1	-6	-6	INTJ
fbem-10897	110	2	-5	-5	INTJ
fbem-10897	110	3	-4	-4	INTJ
fbem-10897	110	4	-3	-3	INTJ
fbem-10897	110	5	-2	-2	INTJ
fbem-10897	110	6	-1	-1	SYM
fbem-10897	110	7	0	0	NUM
fbem-10897	110	8	1	1	NUM
fbem-10897	110	9	2	2	NUM
fbem-10897	110	10	3	3	NUM
fbem-10897	110	11	4	4	NUM
fbem-10897	110	12	5	5	NUM
fbem-10897	110	13	6	6	NUM
fbem-10897	110	14	7	7	NUM
fbem-10897	110	15	8	8	NUM
fbem-10897	110	16	9	9	NUM
fbem-10897	110	17	10	10	NUM
fbem-10897	110	18	11	11	NUM
fbem-10897	110	19	12	12	NUM
fbem-10897	110	20	13	13	NUM
fbem-10897	110	21	14	14	NUM
fbem-10897	110	22	15	15	NUM
fbem-10897	110	23	abnormal	abnormal	ADJ
fbem-10897	110	24	yield	yield	NOUN
fbem-10897	110	25	trend	trend	NOUN
fbem-10897	110	26	and	and	CCONJ
fbem-10897	110	27	cumulative	cumulative	ADJ
fbem-10897	110	28	abnormal	abnormal	ADJ
fbem-10897	110	29	yield	yield	NOUN
fbem-10897	110	30	trend	trend	NOUN
fbem-10897	110	31	abnormal	abnormal	ADJ
fbem-10897	110	32	yield	yield	NOUN
fbem-10897	110	33	cumulative	cumulative	ADJ
fbem-10897	110	34	abnormal	abnormal	ADJ
fbem-10897	110	35	yield	yield	NOUN
fbem-10897	110	36	rate	rate	NOUN
fbem-10897	110	37	153	153	NUM
fbem-10897	110	38	company	company	NOUN
fbem-10897	110	39	is	be	AUX
fbem-10897	110	40	higher	high	ADJ
fbem-10897	110	41	than	than	ADP
fbem-10897	110	42	its	its	PRON
fbem-10897	110	43	replacement	replacement	NOUN
fbem-10897	110	44	cost	cost	NOUN
fbem-10897	110	45	.	.	PUNCT
fbem-10897	111	1	that	that	PRON
fbem-10897	111	2	is	be	AUX
fbem-10897	111	3	to	to	PART
fbem-10897	111	4	say	say	VERB
fbem-10897	111	5	,	,	PUNCT
fbem-10897	111	6	the	the	DET
fbem-10897	111	7	market	market	NOUN
fbem-10897	111	8	value	value	NOUN
fbem-10897	111	9	of	of	ADP
fbem-10897	111	10	the	the	DET
fbem-10897	111	11	enterprise	enterprise	NOUN
fbem-10897	111	12	is	be	AUX
fbem-10897	111	13	overvalued	overvalue	VERB
fbem-10897	111	14	at	at	ADP
fbem-10897	111	15	this	this	DET
fbem-10897	111	16	time	time	NOUN
fbem-10897	111	17	,	,	PUNCT
fbem-10897	111	18	indicating	indicate	VERB
fbem-10897	111	19	that	that	SCONJ
fbem-10897	111	20	market	market	NOUN
fbem-10897	111	21	investors	investor	NOUN
fbem-10897	111	22	have	have	VERB
fbem-10897	111	23	high	high	ADJ
fbem-10897	111	24	expectations	expectation	NOUN
fbem-10897	111	25	for	for	ADP
fbem-10897	111	26	the	the	DET
fbem-10897	111	27	development	development	NOUN
fbem-10897	111	28	prospect	prospect	NOUN
fbem-10897	111	29	of	of	ADP
fbem-10897	111	30	the	the	DET
fbem-10897	111	31	enterprise	enterprise	NOUN
fbem-10897	111	32	at	at	ADP
fbem-10897	111	33	this	this	DET
fbem-10897	111	34	time	time	NOUN
fbem-10897	111	35	.	.	PUNCT
fbem-10897	112	1	when	when	SCONJ
fbem-10897	112	2	the	the	DET
fbem-10897	112	3	ratio	ratio	NOUN
fbem-10897	112	4	of	of	ADP
fbem-10897	112	5	the	the	DET
fbem-10897	112	6	two	two	NUM
fbem-10897	112	7	is	be	AUX
fbem-10897	112	8	equal	equal	ADJ
fbem-10897	112	9	to	to	ADP
fbem-10897	112	10	1	1	NUM
fbem-10897	112	11	,	,	PUNCT
fbem-10897	112	12	the	the	DET
fbem-10897	112	13	market	market	NOUN
fbem-10897	112	14	value	value	NOUN
fbem-10897	112	15	of	of	ADP
fbem-10897	112	16	the	the	DET
fbem-10897	112	17	company	company	NOUN
fbem-10897	112	18	and	and	CCONJ
fbem-10897	112	19	the	the	DET
fbem-10897	112	20	replacement	replacement	NOUN
fbem-10897	112	21	cost	cost	NOUN
fbem-10897	112	22	are	be	AUX
fbem-10897	112	23	in	in	ADP
fbem-10897	112	24	equilibrium	equilibrium	NOUN
fbem-10897	112	25	at	at	ADP
fbem-10897	112	26	this	this	DET
fbem-10897	112	27	time	time	NOUN
fbem-10897	112	28	,	,	PUNCT
fbem-10897	112	29	and	and	CCONJ
fbem-10897	112	30	the	the	DET
fbem-10897	112	31	market	market	NOUN
fbem-10897	112	32	value	value	NOUN
fbem-10897	112	33	of	of	ADP
fbem-10897	112	34	the	the	DET
fbem-10897	112	35	enterprise	enterprise	NOUN
fbem-10897	112	36	is	be	AUX
fbem-10897	112	37	neither	neither	CCONJ
fbem-10897	112	38	underestimated	underestimated	ADJ
fbem-10897	112	39	nor	nor	CCONJ
fbem-10897	112	40	overestimated	overestimate	VERB
fbem-10897	112	41	.	.	PUNCT
fbem-10897	113	1	when	when	SCONJ
fbem-10897	113	2	the	the	DET
fbem-10897	113	3	ratio	ratio	NOUN
fbem-10897	113	4	of	of	ADP
fbem-10897	113	5	the	the	DET
fbem-10897	113	6	two	two	NUM
fbem-10897	113	7	is	be	AUX
fbem-10897	113	8	less	less	ADJ
fbem-10897	113	9	than	than	ADP
fbem-10897	113	10	1	1	NUM
fbem-10897	113	11	,	,	PUNCT
fbem-10897	113	12	the	the	DET
fbem-10897	113	13	company	company	NOUN
fbem-10897	113	14	is	be	AUX
fbem-10897	113	15	not	not	PART
fbem-10897	113	16	favored	favor	VERB
fbem-10897	113	17	in	in	ADP
fbem-10897	113	18	the	the	DET
fbem-10897	113	19	market	market	NOUN
fbem-10897	113	20	,	,	PUNCT
fbem-10897	113	21	and	and	CCONJ
fbem-10897	113	22	the	the	DET
fbem-10897	113	23	market	market	NOUN
fbem-10897	113	24	value	value	NOUN
fbem-10897	113	25	of	of	ADP
fbem-10897	113	26	the	the	DET
fbem-10897	113	27	company	company	NOUN
fbem-10897	113	28	is	be	AUX
fbem-10897	113	29	undervalued	undervalue	VERB
fbem-10897	113	30	.	.	PUNCT
fbem-10897	114	1	according	accord	VERB
fbem-10897	114	2	to	to	ADP
fbem-10897	114	3	the	the	DET
fbem-10897	114	4	above	above	ADJ
fbem-10897	114	5	situation	situation	NOUN
fbem-10897	114	6	,	,	PUNCT
fbem-10897	114	7	we	we	PRON
fbem-10897	114	8	can	can	AUX
fbem-10897	114	9	obtain	obtain	VERB
fbem-10897	114	10	the	the	DET
fbem-10897	114	11	calculation	calculation	NOUN
fbem-10897	114	12	formula	formula	NOUN
fbem-10897	114	13	of	of	ADP
fbem-10897	114	14	tobinq	tobinq	ADJ
fbem-10897	114	15	value	value	NOUN
fbem-10897	114	16	as	as	SCONJ
fbem-10897	114	17	follows	follow	VERB
fbem-10897	114	18	:	:	PUNCT
fbem-10897	114	19	tobinq=	tobinq=	NUM
fbem-10897	114	20	(	(	PUNCT
fbem-10897	114	21	formula	formula	NOUN
fbem-10897	114	22	4	4	NUM
fbem-10897	114	23	-	-	SYM
fbem-10897	114	24	5	5	NUM
fbem-10897	114	25	)	)	PUNCT
fbem-10897	114	26	mc	mc	NOUN
fbem-10897	114	27	:	:	PUNCT
fbem-10897	114	28	market	market	NOUN
fbem-10897	114	29	value	value	NOUN
fbem-10897	114	30	of	of	ADP
fbem-10897	114	31	the	the	DET
fbem-10897	114	32	enterprise	enterprise	NOUN
fbem-10897	114	33	;	;	PUNCT
fbem-10897	114	34	rc	rc	PROPN
fbem-10897	114	35	:	:	PUNCT
fbem-10897	114	36	replacement	replacement	NOUN
fbem-10897	114	37	cost	cost	NOUN
fbem-10897	114	38	of	of	ADP
fbem-10897	114	39	the	the	DET
fbem-10897	114	40	enterprise	enterprise	NOUN
fbem-10897	114	41	.	.	PUNCT
fbem-10897	115	1	at	at	ADP
fbem-10897	115	2	present	present	ADJ
fbem-10897	115	3	,	,	PUNCT
fbem-10897	115	4	there	there	PRON
fbem-10897	115	5	are	be	VERB
fbem-10897	115	6	many	many	ADJ
fbem-10897	115	7	different	different	ADJ
fbem-10897	115	8	views	view	NOUN
fbem-10897	115	9	and	and	CCONJ
fbem-10897	115	10	caliber	caliber	NOUN
fbem-10897	115	11	in	in	ADP
fbem-10897	115	12	the	the	DET
fbem-10897	115	13	calculation	calculation	NOUN
fbem-10897	115	14	method	method	NOUN
fbem-10897	115	15	of	of	ADP
fbem-10897	115	16	enterprise	enterprise	NOUN
fbem-10897	115	17	market	market	NOUN
fbem-10897	115	18	value	value	NOUN
fbem-10897	115	19	in	in	ADP
fbem-10897	115	20	academic	academic	ADJ
fbem-10897	115	21	circles	circle	NOUN
fbem-10897	115	22	.	.	PUNCT
fbem-10897	116	1	this	this	DET
fbem-10897	116	2	paper	paper	NOUN
fbem-10897	116	3	draws	draw	VERB
fbem-10897	116	4	on	on	ADP
fbem-10897	116	5	su	su	PROPN
fbem-10897	116	6	qilin	qilin	PROPN
fbem-10897	116	7	for	for	ADP
fbem-10897	116	8	reference	reference	NOUN
fbem-10897	116	9	[	[	X
fbem-10897	116	10	10	10	NUM
fbem-10897	116	11	]	]	PUNCT
fbem-10897	116	12	and	and	CCONJ
fbem-10897	116	13	xia	xia	PROPN
fbem-10897	116	14	lijun	lijun	PROPN
fbem-10897	117	1	[	[	X
fbem-10897	117	2	11	11	NUM
fbem-10897	117	3	]	]	PUNCT
fbem-10897	117	4	the	the	DET
fbem-10897	117	5	calculation	calculation	NOUN
fbem-10897	117	6	method	method	NOUN
fbem-10897	117	7	of	of	ADP
fbem-10897	117	8	the	the	DET
fbem-10897	117	9	scholar	scholar	NOUN
fbem-10897	117	10	.	.	PUNCT
fbem-10897	118	1	that	that	PRON
fbem-10897	118	2	is	be	AUX
fbem-10897	118	3	,	,	PUNCT
fbem-10897	118	4	the	the	DET
fbem-10897	118	5	total	total	ADJ
fbem-10897	118	6	number	number	NOUN
fbem-10897	118	7	of	of	ADP
fbem-10897	118	8	short	short	ADJ
fbem-10897	118	9	-	-	PUNCT
fbem-10897	118	10	term	term	NOUN
fbem-10897	118	11	liabilities	liability	NOUN
fbem-10897	118	12	and	and	CCONJ
fbem-10897	118	13	long	long	ADJ
fbem-10897	118	14	-	-	PUNCT
fbem-10897	118	15	term	term	NOUN
fbem-10897	118	16	liabilities	liability	NOUN
fbem-10897	118	17	is	be	AUX
fbem-10897	118	18	used	use	VERB
fbem-10897	118	19	to	to	PART
fbem-10897	118	20	calculate	calculate	VERB
fbem-10897	118	21	the	the	DET
fbem-10897	118	22	market	market	NOUN
fbem-10897	118	23	value	value	NOUN
fbem-10897	118	24	of	of	ADP
fbem-10897	118	25	debt	debt	NOUN
fbem-10897	118	26	capital	capital	NOUN
fbem-10897	118	27	to	to	PART
fbem-10897	118	28	obtain	obtain	VERB
fbem-10897	118	29	a	a	DET
fbem-10897	118	30	relatively	relatively	ADV
fbem-10897	118	31	accurate	accurate	ADJ
fbem-10897	118	32	and	and	CCONJ
fbem-10897	118	33	reliable	reliable	ADJ
fbem-10897	118	34	estimation	estimation	NOUN
fbem-10897	118	35	method	method	NOUN
fbem-10897	118	36	.	.	PUNCT
fbem-10897	119	1	generally	generally	ADV
fbem-10897	119	2	speaking	speak	VERB
fbem-10897	119	3	,	,	PUNCT
fbem-10897	119	4	the	the	DET
fbem-10897	119	5	total	total	ADJ
fbem-10897	119	6	market	market	NOUN
fbem-10897	119	7	value	value	NOUN
fbem-10897	119	8	of	of	ADP
fbem-10897	119	9	equity	equity	NOUN
fbem-10897	119	10	capital	capital	NOUN
fbem-10897	119	11	is	be	AUX
fbem-10897	119	12	to	to	PART
fbem-10897	119	13	multiply	multiply	VERB
fbem-10897	119	14	the	the	DET
fbem-10897	119	15	price	price	NOUN
fbem-10897	119	16	per	per	ADP
fbem-10897	119	17	share	share	NOUN
fbem-10897	119	18	by	by	ADP
fbem-10897	119	19	the	the	DET
fbem-10897	119	20	number	number	NOUN
fbem-10897	119	21	of	of	ADP
fbem-10897	119	22	shares	share	NOUN
fbem-10897	119	23	,	,	PUNCT
fbem-10897	119	24	but	but	CCONJ
fbem-10897	119	25	there	there	PRON
fbem-10897	119	26	are	be	VERB
fbem-10897	119	27	still	still	ADV
fbem-10897	119	28	non	non	ADJ
fbem-10897	119	29	-	-	ADJ
fbem-10897	119	30	tradable	tradable	ADJ
fbem-10897	119	31	shares	share	NOUN
fbem-10897	119	32	in	in	ADP
fbem-10897	119	33	china	china	PROPN
fbem-10897	119	34	.	.	PUNCT
fbem-10897	120	1	therefore	therefore	ADV
fbem-10897	120	2	,	,	PUNCT
fbem-10897	120	3	in	in	ADP
fbem-10897	120	4	addition	addition	NOUN
fbem-10897	120	5	to	to	ADP
fbem-10897	120	6	considering	consider	VERB
fbem-10897	120	7	tradable	tradable	ADJ
fbem-10897	120	8	shares	share	NOUN
fbem-10897	120	9	,	,	PUNCT
fbem-10897	120	10	they	they	PRON
fbem-10897	120	11	also	also	ADV
fbem-10897	120	12	need	need	VERB
fbem-10897	120	13	to	to	PART
fbem-10897	120	14	consider	consider	VERB
fbem-10897	120	15	the	the	DET
fbem-10897	120	16	value	value	NOUN
fbem-10897	120	17	of	of	ADP
fbem-10897	120	18	non	non	ADJ
fbem-10897	120	19	-	-	ADJ
fbem-10897	120	20	tradable	tradable	ADJ
fbem-10897	120	21	shares	share	NOUN
fbem-10897	120	22	.	.	PUNCT
fbem-10897	121	1	however	however	ADV
fbem-10897	121	2	,	,	PUNCT
fbem-10897	121	3	because	because	SCONJ
fbem-10897	121	4	the	the	DET
fbem-10897	121	5	value	value	NOUN
fbem-10897	121	6	of	of	ADP
fbem-10897	121	7	non	non	ADJ
fbem-10897	121	8	-	-	ADJ
fbem-10897	121	9	tradable	tradable	ADJ
fbem-10897	121	10	shares	share	NOUN
fbem-10897	121	11	is	be	AUX
fbem-10897	121	12	not	not	PART
fbem-10897	121	13	listed	list	VERB
fbem-10897	121	14	and	and	CCONJ
fbem-10897	121	15	circulated	circulate	VERB
fbem-10897	121	16	and	and	CCONJ
fbem-10897	121	17	lacks	lack	VERB
fbem-10897	121	18	market	market	NOUN
fbem-10897	121	19	value	value	NOUN
fbem-10897	121	20	,	,	PUNCT
fbem-10897	121	21	the	the	DET
fbem-10897	121	22	transfer	transfer	NOUN
fbem-10897	121	23	is	be	AUX
fbem-10897	121	24	often	often	ADV
fbem-10897	121	25	measured	measure	VERB
fbem-10897	121	26	by	by	ADP
fbem-10897	121	27	the	the	DET
fbem-10897	121	28	value	value	NOUN
fbem-10897	121	29	of	of	ADP
fbem-10897	121	30	net	net	ADJ
fbem-10897	121	31	assets	asset	NOUN
fbem-10897	121	32	.	.	PUNCT
fbem-10897	122	1	therefore	therefore	ADV
fbem-10897	122	2	,	,	PUNCT
fbem-10897	122	3	this	this	DET
fbem-10897	122	4	paper	paper	NOUN
fbem-10897	122	5	expresses	express	VERB
fbem-10897	122	6	the	the	DET
fbem-10897	122	7	total	total	ADJ
fbem-10897	122	8	market	market	NOUN
fbem-10897	122	9	value	value	NOUN
fbem-10897	122	10	of	of	ADP
fbem-10897	122	11	equity	equity	NOUN
fbem-10897	122	12	capital	capital	NOUN
fbem-10897	122	13	as	as	ADP
fbem-10897	122	14	the	the	DET
fbem-10897	122	15	product	product	NOUN
fbem-10897	122	16	of	of	ADP
fbem-10897	122	17	the	the	DET
fbem-10897	122	18	net	net	ADJ
fbem-10897	122	19	assets	asset	NOUN
fbem-10897	122	20	and	and	CCONJ
fbem-10897	122	21	the	the	DET
fbem-10897	122	22	non	non	ADJ
fbem-10897	122	23	-	-	ADJ
fbem-10897	122	24	tradable	tradable	ADJ
fbem-10897	122	25	shares	share	NOUN
fbem-10897	122	26	of	of	ADP
fbem-10897	122	27	each	each	DET
fbem-10897	122	28	share	share	NOUN
fbem-10897	122	29	and	and	CCONJ
fbem-10897	122	30	the	the	DET
fbem-10897	122	31	value	value	NOUN
fbem-10897	122	32	of	of	ADP
fbem-10897	122	33	tradable	tradable	ADJ
fbem-10897	122	34	shares	share	NOUN
fbem-10897	122	35	.	.	PUNCT
fbem-10897	123	1	in	in	ADP
fbem-10897	123	2	addition	addition	NOUN
fbem-10897	123	3	,	,	PUNCT
fbem-10897	123	4	due	due	ADP
fbem-10897	123	5	to	to	ADP
fbem-10897	123	6	the	the	DET
fbem-10897	123	7	enterprise	enterprise	NOUN
fbem-10897	123	8	announcement	announcement	NOUN
fbem-10897	123	9	is	be	AUX
fbem-10897	123	10	usually	usually	ADV
fbem-10897	123	11	not	not	PART
fbem-10897	123	12	directly	directly	ADV
fbem-10897	123	13	reflect	reflect	VERB
fbem-10897	123	14	the	the	DET
fbem-10897	123	15	replacement	replacement	NOUN
fbem-10897	123	16	cost	cost	NOUN
fbem-10897	123	17	of	of	ADP
fbem-10897	123	18	public	public	ADJ
fbem-10897	123	19	data	datum	NOUN
fbem-10897	123	20	,	,	PUNCT
fbem-10897	123	21	this	this	DET
fbem-10897	123	22	paper	paper	NOUN
fbem-10897	123	23	chooses	choose	VERB
fbem-10897	123	24	the	the	DET
fbem-10897	123	25	enterprise	enterprise	NOUN
fbem-10897	123	26	to	to	PART
fbem-10897	123	27	indirectly	indirectly	ADV
fbem-10897	123	28	represent	represent	VERB
fbem-10897	123	29	the	the	DET
fbem-10897	123	30	total	total	ADJ
fbem-10897	123	31	assets	asset	NOUN
fbem-10897	123	32	of	of	ADP
fbem-10897	123	33	the	the	DET
fbem-10897	123	34	replacement	replacement	NOUN
fbem-10897	123	35	cost	cost	NOUN
fbem-10897	123	36	,	,	PUNCT
fbem-10897	123	37	this	this	PRON
fbem-10897	123	38	is	be	AUX
fbem-10897	123	39	because	because	SCONJ
fbem-10897	123	40	the	the	DET
fbem-10897	123	41	total	total	ADJ
fbem-10897	123	42	assets	asset	NOUN
fbem-10897	123	43	are	be	AUX
fbem-10897	123	44	often	often	ADV
fbem-10897	123	45	is	be	AUX
fbem-10897	123	46	closely	closely	ADV
fbem-10897	123	47	related	relate	VERB
fbem-10897	123	48	to	to	ADP
fbem-10897	123	49	the	the	DET
fbem-10897	123	50	replacement	replacement	NOUN
fbem-10897	123	51	cost	cost	NOUN
fbem-10897	123	52	,	,	PUNCT
fbem-10897	123	53	through	through	ADP
fbem-10897	123	54	the	the	DET
fbem-10897	123	55	estimation	estimation	NOUN
fbem-10897	123	56	of	of	ADP
fbem-10897	123	57	total	total	ADJ
fbem-10897	123	58	assets	asset	NOUN
fbem-10897	123	59	,	,	PUNCT
fbem-10897	123	60	can	can	AUX
fbem-10897	123	61	more	more	ADV
fbem-10897	123	62	accurately	accurately	ADV
fbem-10897	123	63	obtain	obtain	VERB
fbem-10897	123	64	the	the	DET
fbem-10897	123	65	replacement	replacement	NOUN
fbem-10897	123	66	cost	cost	NOUN
fbem-10897	123	67	approximate	approximate	NOUN
fbem-10897	123	68	.	.	PUNCT
fbem-10897	124	1	thus	thus	ADV
fbem-10897	124	2	,	,	PUNCT
fbem-10897	124	3	the	the	DET
fbem-10897	124	4	calculation	calculation	NOUN
fbem-10897	124	5	formula	formula	NOUN
fbem-10897	124	6	of	of	ADP
fbem-10897	124	7	tobinq	tobinq	NOUN
fbem-10897	124	8	is	be	AUX
fbem-10897	124	9	:	:	PUNCT
fbem-10897	124	10	according	accord	VERB
fbem-10897	124	11	to	to	ADP
fbem-10897	124	12	the	the	DET
fbem-10897	124	13	above	above	ADJ
fbem-10897	124	14	calculation	calculation	NOUN
fbem-10897	124	15	method	method	NOUN
fbem-10897	124	16	,	,	PUNCT
fbem-10897	124	17	by	by	ADP
fbem-10897	124	18	inquiring	inquire	VERB
fbem-10897	124	19	the	the	DET
fbem-10897	124	20	public	public	ADJ
fbem-10897	124	21	information	information	NOUN
fbem-10897	124	22	released	release	VERB
fbem-10897	124	23	by	by	ADP
fbem-10897	124	24	praya	praya	PROPN
fbem-10897	124	25	,	,	PUNCT
fbem-10897	124	26	calculate	calculate	VERB
fbem-10897	124	27	the	the	DET
fbem-10897	124	28	tobq	tobq	NOUN
fbem-10897	124	29	value	value	NOUN
fbem-10897	124	30	in	in	ADP
fbem-10897	124	31	recent	recent	ADJ
fbem-10897	124	32	five	five	NUM
fbem-10897	124	33	years	year	NOUN
fbem-10897	124	34	(	(	PUNCT
fbem-10897	124	35	as	as	SCONJ
fbem-10897	124	36	shown	show	VERB
fbem-10897	124	37	in	in	ADP
fbem-10897	124	38	table	table	NOUN
fbem-10897	124	39	2	2	NUM
fbem-10897	124	40	)	)	PUNCT
fbem-10897	124	41	,	,	PUNCT
fbem-10897	124	42	and	and	CCONJ
fbem-10897	124	43	observe	observe	VERB
fbem-10897	124	44	the	the	DET
fbem-10897	124	45	change	change	NOUN
fbem-10897	124	46	of	of	ADP
fbem-10897	124	47	its	its	PRON
fbem-10897	124	48	indicators	indicator	NOUN
fbem-10897	124	49	(	(	PUNCT
fbem-10897	124	50	see	see	VERB
fbem-10897	124	51	figure	figure	NOUN
fbem-10897	124	52	5	5	NUM
fbem-10897	124	53	)	)	PUNCT
fbem-10897	124	54	.	.	PUNCT
fbem-10897	125	1	table	table	NOUN
fbem-10897	125	2	2	2	NUM
fbem-10897	125	3	.	.	PUNCT
fbem-10897	126	1	q	q	ADJ
fbem-10897	126	2	values	value	NOUN
fbem-10897	126	3	in	in	ADP
fbem-10897	126	4	2018	2018	NUM
fbem-10897	126	5	-	-	SYM
fbem-10897	126	6	2022	2022	NUM
fbem-10897	126	7	2018	2018	NUM
fbem-10897	126	8	2019	2019	NUM
fbem-10897	126	9	2020	2020	NUM
fbem-10897	126	10	2021	2021	NUM
fbem-10897	126	11	2022	2022	NUM
fbem-10897	126	12	vendibility	vendibility	NOUN
fbem-10897	126	13	4440762523.10	4440762523.10	NUM
fbem-10897	126	14	7425545497.63	7425545497.63	NUM
fbem-10897	126	15	37881298057.86	37881298057.86	NUM
fbem-10897	126	16	44396643827.02	44396643827.02	NUM
fbem-10897	126	17	59810948870.03	59810948870.03	NUM
fbem-10897	126	18	total	total	ADJ
fbem-10897	126	19	assets	asset	NOUN
fbem-10897	126	20	2860042557.71	2860042557.71	NUM
fbem-10897	126	21	2454281291.65	2454281291.65	NUM
fbem-10897	126	22	3636882185.29	3636882185.29	NUM
fbem-10897	126	23	4633049783.03	4633049783.03	NUM
fbem-10897	126	24	5778071824.19	5778071824.19	NUM
fbem-10897	126	25	tobin	tobin	PROPN
fbem-10897	126	26	q	q	PROPN
fbem-10897	126	27	value	value	NOUN
fbem-10897	126	28	1.55	1.55	NUM
fbem-10897	126	29	3.03	3.03	NUM
fbem-10897	126	30	10.42	10.42	NUM
fbem-10897	126	31	9.58	9.58	NUM
fbem-10897	126	32	10.35	10.35	NUM
fbem-10897	126	33	figure	figure	NOUN
fbem-10897	126	34	5	5	NUM
fbem-10897	126	35	.	.	PUNCT
fbem-10897	126	36	changes	change	NOUN
fbem-10897	126	37	in	in	ADP
fbem-10897	126	38	tobin	tobin	PROPN
fbem-10897	126	39	q	q	NOUN
fbem-10897	126	40	value	value	NOUN
fbem-10897	126	41	in	in	ADP
fbem-10897	126	42	the	the	DET
fbem-10897	126	43	recent	recent	ADJ
fbem-10897	126	44	five	five	NUM
fbem-10897	126	45	years	year	NOUN
fbem-10897	126	46	according	accord	VERB
fbem-10897	126	47	to	to	ADP
fbem-10897	126	48	table	table	NOUN
fbem-10897	126	49	2	2	NUM
fbem-10897	126	50	and	and	CCONJ
fbem-10897	126	51	figure	figure	NOUN
fbem-10897	126	52	5	5	NUM
fbem-10897	126	53	,	,	PUNCT
fbem-10897	126	54	it	it	PRON
fbem-10897	126	55	can	can	AUX
fbem-10897	126	56	be	be	AUX
fbem-10897	126	57	observed	observe	VERB
fbem-10897	126	58	that	that	SCONJ
fbem-10897	126	59	the	the	DET
fbem-10897	126	60	q	q	NOUN
fbem-10897	126	61	value	value	NOUN
fbem-10897	126	62	of	of	ADP
fbem-10897	126	63	tobinq	tobinq	NOUN
fbem-10897	126	64	has	have	AUX
fbem-10897	126	65	been	be	AUX
fbem-10897	126	66	above	above	ADP
fbem-10897	126	67	1	1	NUM
fbem-10897	126	68	in	in	ADP
fbem-10897	126	69	the	the	DET
fbem-10897	126	70	past	past	ADJ
fbem-10897	126	71	five	five	NUM
fbem-10897	126	72	years	year	NOUN
fbem-10897	126	73	,	,	PUNCT
fbem-10897	126	74	and	and	CCONJ
fbem-10897	126	75	it	it	PRON
fbem-10897	126	76	is	be	AUX
fbem-10897	126	77	increasing	increase	VERB
fbem-10897	126	78	year	year	NOUN
fbem-10897	126	79	by	by	ADP
fbem-10897	126	80	year	year	NOUN
fbem-10897	126	81	.	.	PUNCT
fbem-10897	127	1	this	this	DET
fbem-10897	127	2	trend	trend	NOUN
fbem-10897	127	3	shows	show	VERB
fbem-10897	127	4	that	that	SCONJ
fbem-10897	127	5	its	its	PRON
fbem-10897	127	6	value	value	NOUN
fbem-10897	127	7	in	in	ADP
fbem-10897	127	8	the	the	DET
fbem-10897	127	9	market	market	NOUN
fbem-10897	127	10	continues	continue	VERB
fbem-10897	127	11	to	to	PART
fbem-10897	127	12	grow	grow	VERB
fbem-10897	127	13	.	.	PUNCT
fbem-10897	128	1	in	in	ADP
fbem-10897	128	2	particular	particular	ADJ
fbem-10897	128	3	,	,	PUNCT
fbem-10897	128	4	in	in	ADP
fbem-10897	128	5	2020	2020	NUM
fbem-10897	128	6	,	,	PUNCT
fbem-10897	128	7	proya	proya	PROPN
fbem-10897	128	8	's	's	PART
fbem-10897	128	9	tobinq	tobinq	ADJ
fbem-10897	128	10	value	value	NOUN
fbem-10897	128	11	tripled	triple	VERB
fbem-10897	128	12	to	to	ADP
fbem-10897	128	13	10.42	10.42	NUM
fbem-10897	128	14	,	,	PUNCT
fbem-10897	128	15	exceeding	exceed	VERB
fbem-10897	128	16	the	the	DET
fbem-10897	128	17	level	level	NOUN
fbem-10897	128	18	of	of	ADP
fbem-10897	128	19	previous	previous	ADJ
fbem-10897	128	20	years	year	NOUN
fbem-10897	128	21	.	.	PUNCT
fbem-10897	129	1	this	this	DET
fbem-10897	129	2	growth	growth	NOUN
fbem-10897	129	3	shows	show	VERB
fbem-10897	129	4	the	the	DET
fbem-10897	129	5	market	market	NOUN
fbem-10897	129	6	's	's	PART
fbem-10897	129	7	high	high	ADJ
fbem-10897	129	8	recognition	recognition	NOUN
fbem-10897	129	9	of	of	ADP
fbem-10897	129	10	proya	proya	NOUN
fbem-10897	129	11	,	,	PUNCT
fbem-10897	129	12	indicating	indicate	VERB
fbem-10897	129	13	that	that	SCONJ
fbem-10897	129	14	its	its	PRON
fbem-10897	129	15	market	market	NOUN
fbem-10897	129	16	value	value	NOUN
fbem-10897	129	17	in	in	ADP
fbem-10897	129	18	that	that	DET
fbem-10897	129	19	year	year	NOUN
fbem-10897	129	20	is	be	AUX
fbem-10897	129	21	much	much	ADV
fbem-10897	129	22	higher	high	ADJ
fbem-10897	129	23	than	than	ADP
fbem-10897	129	24	its	its	PRON
fbem-10897	129	25	replacement	replacement	NOUN
fbem-10897	129	26	cost	cost	NOUN
fbem-10897	129	27	.	.	PUNCT
fbem-10897	130	1	at	at	ADP
fbem-10897	130	2	the	the	DET
fbem-10897	130	3	same	same	ADJ
fbem-10897	130	4	time	time	NOUN
fbem-10897	130	5	,	,	PUNCT
fbem-10897	130	6	msci	msci	PROPN
fbem-10897	130	7	in	in	ADP
fbem-10897	130	8	2020	2020	NUM
fbem-10897	130	9	included	include	VERB
fbem-10897	130	10	proya	proya	NOUN
fbem-10897	130	11	in	in	ADP
fbem-10897	130	12	the	the	DET
fbem-10897	130	13	esg	esg	NOUN
fbem-10897	130	14	rating	rating	NOUN
fbem-10897	130	15	system	system	NOUN
fbem-10897	130	16	,	,	PUNCT
fbem-10897	130	17	which	which	PRON
fbem-10897	130	18	marks	mark	VERB
fbem-10897	130	19	the	the	DET
fbem-10897	130	20	recognition	recognition	NOUN
fbem-10897	130	21	of	of	ADP
fbem-10897	130	22	proya	proya	PROPN
fbem-10897	130	23	's	's	PART
fbem-10897	130	24	performance	performance	NOUN
fbem-10897	130	25	in	in	ADP
fbem-10897	130	26	environmental	environmental	ADJ
fbem-10897	130	27	,	,	PUNCT
fbem-10897	130	28	social	social	ADJ
fbem-10897	130	29	and	and	CCONJ
fbem-10897	130	30	corporate	corporate	ADJ
fbem-10897	130	31	governance	governance	NOUN
fbem-10897	130	32	.	.	PUNCT
fbem-10897	131	1	however	however	ADV
fbem-10897	131	2	,	,	PUNCT
fbem-10897	131	3	in	in	ADP
fbem-10897	131	4	2021	2021	NUM
fbem-10897	131	5	,	,	PUNCT
fbem-10897	131	6	the	the	DET
fbem-10897	131	7	msci	msci	PROPN
fbem-10897	131	8	rating	rating	NOUN
fbem-10897	131	9	remained	remain	VERB
fbem-10897	131	10	at	at	ADP
fbem-10897	131	11	ccc	ccc	PROPN
fbem-10897	131	12	,	,	PUNCT
fbem-10897	131	13	the	the	DET
fbem-10897	131	14	esg	esg	PROPN
fbem-10897	131	15	performance	performance	NOUN
fbem-10897	131	16	was	be	AUX
fbem-10897	131	17	mediocre	mediocre	ADJ
fbem-10897	131	18	,	,	PUNCT
fbem-10897	131	19	and	and	CCONJ
fbem-10897	131	20	its	its	PRON
fbem-10897	131	21	tobinq	tobinq	ADJ
fbem-10897	131	22	value	value	NOUN
fbem-10897	131	23	also	also	ADV
fbem-10897	131	24	decreased	decrease	VERB
fbem-10897	131	25	.	.	PUNCT
fbem-10897	132	1	in	in	ADP
fbem-10897	132	2	july	july	PROPN
fbem-10897	132	3	2022	2022	NUM
fbem-10897	132	4	,	,	PUNCT
fbem-10897	132	5	proya	proya	PROPN
fbem-10897	132	6	released	release	VERB
fbem-10897	132	7	the	the	DET
fbem-10897	132	8	first	first	ADJ
fbem-10897	132	9	esg	esg	PROPN
fbem-10897	132	10	specification	specification	NOUN
fbem-10897	132	11	,	,	PUNCT
fbem-10897	132	12	which	which	PRON
fbem-10897	132	13	reflects	reflect	VERB
fbem-10897	132	14	the	the	DET
fbem-10897	132	15	company	company	NOUN
fbem-10897	132	16	's	's	PART
fbem-10897	132	17	commitment	commitment	NOUN
fbem-10897	132	18	to	to	ADP
fbem-10897	132	19	sustainability	sustainability	NOUN
fbem-10897	132	20	,	,	PUNCT
fbem-10897	132	21	jumping	jump	VERB
fbem-10897	132	22	proya	proya	PROPN
fbem-10897	132	23	's	's	PART
fbem-10897	132	24	msci	msci	PROPN
fbem-10897	132	25	rating	rating	NOUN
fbem-10897	132	26	from	from	ADP
fbem-10897	132	27	ccc	ccc	PROPN
fbem-10897	132	28	to	to	ADP
fbem-10897	132	29	bbb	bbb	PROPN
fbem-10897	132	30	.	.	PUNCT
fbem-10897	133	1	in	in	ADP
fbem-10897	133	2	addition	addition	NOUN
fbem-10897	133	3	,	,	PUNCT
fbem-10897	133	4	the	the	DET
fbem-10897	133	5	tobinq	tobinq	ADJ
fbem-10897	133	6	value	value	NOUN
fbem-10897	133	7	in	in	ADP
fbem-10897	133	8	2022	2022	NUM
fbem-10897	133	9	also	also	ADV
fbem-10897	133	10	increased	increase	VERB
fbem-10897	133	11	compared	compare	VERB
fbem-10897	133	12	with	with	ADP
fbem-10897	133	13	2021	2021	NUM
fbem-10897	133	14	,	,	PUNCT
fbem-10897	133	15	further	far	ADV
fbem-10897	133	16	proving	prove	VERB
fbem-10897	133	17	the	the	DET
fbem-10897	133	18	market	market	NOUN
fbem-10897	133	19	's	's	PART
fbem-10897	133	20	recognition	recognition	NOUN
fbem-10897	133	21	and	and	CCONJ
fbem-10897	133	22	optimism	optimism	NOUN
fbem-10897	133	23	for	for	ADP
fbem-10897	133	24	proya	proya	NOUN
fbem-10897	133	25	.	.	PUNCT
fbem-10897	134	1	this	this	DET
fbem-10897	134	2	series	series	NOUN
fbem-10897	134	3	of	of	ADP
fbem-10897	134	4	changes	change	NOUN
fbem-10897	134	5	indicates	indicate	VERB
fbem-10897	134	6	important	important	ADJ
fbem-10897	134	7	progress	progress	NOUN
fbem-10897	134	8	in	in	ADP
fbem-10897	134	9	proya	proya	PROPN
fbem-10897	134	10	's	's	PART
fbem-10897	134	11	efforts	effort	NOUN
fbem-10897	134	12	and	and	CCONJ
fbem-10897	134	13	development	development	NOUN
fbem-10897	134	14	strategies	strategy	NOUN
fbem-10897	134	15	for	for	ADP
fbem-10897	134	16	esg	esg	PROPN
fbem-10897	134	17	,	,	PUNCT
fbem-10897	134	18	and	and	CCONJ
fbem-10897	134	19	lays	lay	VERB
fbem-10897	134	20	the	the	DET
fbem-10897	134	21	foundation	foundation	NOUN
fbem-10897	134	22	for	for	ADP
fbem-10897	134	23	its	its	PRON
fbem-10897	134	24	continued	continue	VERB
fbem-10897	134	25	future	future	ADJ
fbem-10897	134	26	growth	growth	NOUN
fbem-10897	134	27	.	.	PUNCT
fbem-10897	135	1	to	to	PART
fbem-10897	135	2	sum	sum	VERB
fbem-10897	135	3	up	up	ADP
fbem-10897	135	4	,	,	PUNCT
fbem-10897	135	5	from	from	ADP
fbem-10897	135	6	the	the	DET
fbem-10897	135	7	pearl	pearl	NOUN
fbem-10897	135	8	of	of	ADP
fbem-10897	135	9	the	the	DET
fbem-10897	135	10	esg	esg	PROPN
fbem-10897	135	11	rating	rating	NOUN
fbem-10897	135	12	upgrade	upgrade	NOUN
fbem-10897	135	13	event	event	NOUN
fbem-10897	135	14	after	after	ADP
fbem-10897	135	15	abnormal	abnormal	ADJ
fbem-10897	135	16	price	price	NOUN
fbem-10897	135	17	changes	change	NOUN
fbem-10897	135	18	and	and	CCONJ
fbem-10897	135	19	the	the	DET
fbem-10897	135	20	perspective	perspective	NOUN
fbem-10897	135	21	of	of	ADP
fbem-10897	135	22	data	datum	NOUN
fbem-10897	135	23	processing	processing	NOUN
fbem-10897	135	24	,	,	PUNCT
fbem-10897	135	25	analysis	analysis	NOUN
fbem-10897	135	26	found	find	VERB
fbem-10897	135	27	that	that	SCONJ
fbem-10897	135	28	investors	investor	NOUN
fbem-10897	135	29	for	for	ADP
fbem-10897	135	30	esg	esg	NOUN
fbem-10897	135	31	ratings	rating	NOUN
fbem-10897	135	32	,	,	PUNCT
fbem-10897	135	33	in	in	ADP
fbem-10897	135	34	the	the	DET
fbem-10897	135	35	pearl	pearl	NOUN
fbem-10897	135	36	esg	esg	PROPN
fbem-10897	135	37	rating	rating	NOUN
fbem-10897	135	38	upgrade	upgrade	NOUN
fbem-10897	135	39	after	after	SCONJ
fbem-10897	135	40	the	the	DET
fbem-10897	135	41	excess	excess	ADJ
fbem-10897	135	42	yield	yield	NOUN
fbem-10897	135	43	is	be	AUX
fbem-10897	135	44	positive	positive	ADJ
fbem-10897	135	45	changes	change	NOUN
fbem-10897	135	46	,	,	PUNCT
fbem-10897	135	47	and	and	CCONJ
fbem-10897	135	48	in	in	ADP
fbem-10897	135	49	the	the	DET
fbem-10897	135	50	year	year	NOUN
fbem-10897	135	51	the	the	DET
fbem-10897	135	52	pearl	pearl	NOUN
fbem-10897	135	53	of	of	ADP
fbem-10897	135	54	the	the	DET
fbem-10897	135	55	tobinq	tobinq	ADJ
fbem-10897	135	56	value	value	NOUN
fbem-10897	135	57	also	also	ADV
fbem-10897	135	58	rose	rise	VERB
fbem-10897	135	59	.	.	PUNCT
fbem-10897	136	1	this	this	PRON
fbem-10897	136	2	shows	show	VERB
fbem-10897	136	3	that	that	SCONJ
fbem-10897	136	4	the	the	DET
fbem-10897	136	5	current	current	ADJ
fbem-10897	136	6	market	market	NOUN
fbem-10897	136	7	investors	investor	NOUN
fbem-10897	136	8	do	do	AUX
fbem-10897	136	9	not	not	PART
fbem-10897	136	10	only	only	ADV
fbem-10897	136	11	focus	focus	VERB
fbem-10897	136	12	on	on	ADP
fbem-10897	136	13	the	the	DET
fbem-10897	136	14	financial	financial	ADJ
fbem-10897	136	15	indicators	indicator	NOUN
fbem-10897	136	16	of	of	ADP
fbem-10897	136	17	enterprises	enterprise	NOUN
fbem-10897	136	18	in	in	ADP
fbem-10897	136	19	the	the	DET
fbem-10897	136	20	past	past	NOUN
fbem-10897	136	21	,	,	PUNCT
fbem-10897	136	22	and	and	CCONJ
fbem-10897	136	23	pay	pay	VERB
fbem-10897	136	24	more	more	ADJ
fbem-10897	136	25	attention	attention	NOUN
fbem-10897	136	26	to	to	PART
fbem-10897	136	27	judge	judge	VERB
fbem-10897	136	28	the	the	DET
fbem-10897	136	29	development	development	NOUN
fbem-10897	136	30	potential	potential	NOUN
fbem-10897	136	31	of	of	ADP
fbem-10897	136	32	enterprises	enterprise	NOUN
fbem-10897	136	33	through	through	ADP
fbem-10897	136	34	the	the	DET
fbem-10897	136	35	non	non	ADJ
fbem-10897	136	36	-	-	ADJ
fbem-10897	136	37	financial	financial	ADJ
fbem-10897	136	38	situation	situation	NOUN
fbem-10897	136	39	of	of	ADP
fbem-10897	136	40	the	the	DET
fbem-10897	136	41	154	154	NUM
fbem-10897	136	42	enterprises	enterprise	NOUN
fbem-10897	136	43	.	.	PUNCT
fbem-10897	137	1	therefore	therefore	ADV
fbem-10897	137	2	,	,	PUNCT
fbem-10897	137	3	this	this	DET
fbem-10897	137	4	paper	paper	NOUN
fbem-10897	137	5	believes	believe	VERB
fbem-10897	137	6	that	that	SCONJ
fbem-10897	137	7	the	the	DET
fbem-10897	137	8	esg	esg	PROPN
fbem-10897	137	9	rating	rating	NOUN
fbem-10897	137	10	upgrade	upgrade	NOUN
fbem-10897	137	11	has	have	VERB
fbem-10897	137	12	a	a	DET
fbem-10897	137	13	positive	positive	ADJ
fbem-10897	137	14	impact	impact	NOUN
fbem-10897	137	15	on	on	ADP
fbem-10897	137	16	their	their	PRON
fbem-10897	137	17	corporate	corporate	ADJ
fbem-10897	137	18	value	value	NOUN
fbem-10897	137	19	.	.	PUNCT
fbem-10897	138	1	5	5	X
fbem-10897	138	2	.	.	X
fbem-10897	138	3	conclusion	conclusion	NOUN
fbem-10897	138	4	in	in	ADP
fbem-10897	138	5	recent	recent	ADJ
fbem-10897	138	6	years	year	NOUN
fbem-10897	138	7	,	,	PUNCT
fbem-10897	138	8	sustainable	sustainable	ADJ
fbem-10897	138	9	development	development	NOUN
fbem-10897	138	10	has	have	AUX
fbem-10897	138	11	become	become	VERB
fbem-10897	138	12	a	a	DET
fbem-10897	138	13	hot	hot	ADJ
fbem-10897	138	14	topic	topic	NOUN
fbem-10897	138	15	of	of	ADP
fbem-10897	138	16	the	the	DET
fbem-10897	138	17	market	market	NOUN
fbem-10897	138	18	,	,	PUNCT
fbem-10897	138	19	has	have	AUX
fbem-10897	138	20	become	become	VERB
fbem-10897	138	21	the	the	DET
fbem-10897	138	22	focus	focus	NOUN
fbem-10897	138	23	of	of	ADP
fbem-10897	138	24	consumer	consumer	NOUN
fbem-10897	138	25	goods	good	NOUN
fbem-10897	138	26	industry	industry	NOUN
fbem-10897	138	27	,	,	PUNCT
fbem-10897	138	28	estee	estee	PROPN
fbem-10897	138	29	lauder	lauder	PROPN
fbem-10897	138	30	,	,	PUNCT
fbem-10897	138	31	shiseido	shiseido	NOUN
fbem-10897	138	32	,	,	PUNCT
fbem-10897	138	33	l’oréal	l’oréal	PROPN
fbem-10897	138	34	foreign	foreign	ADJ
fbem-10897	138	35	groups	group	NOUN
fbem-10897	138	36	are	be	AUX
fbem-10897	138	37	already	already	ADV
fbem-10897	138	38	attention	attention	NOUN
fbem-10897	138	39	and	and	CCONJ
fbem-10897	138	40	practice	practice	VERB
fbem-10897	138	41	the	the	DET
fbem-10897	138	42	concept	concept	NOUN
fbem-10897	138	43	of	of	ADP
fbem-10897	138	44	sustainable	sustainable	ADJ
fbem-10897	138	45	development	development	NOUN
fbem-10897	138	46	,	,	PUNCT
fbem-10897	138	47	pearl	pearl	NOUN
fbem-10897	138	48	is	be	AUX
fbem-10897	138	49	china	china	PROPN
fbem-10897	138	50	beauty	beauty	PROPN
fbem-10897	138	51	makeup	makeup	NOUN
fbem-10897	138	52	enterprises	enterprise	NOUN
fbem-10897	138	53	in	in	ADP
fbem-10897	138	54	the	the	DET
fbem-10897	138	55	few	few	ADJ
fbem-10897	138	56	esg	esg	PROPN
fbem-10897	138	57	report	report	NOUN
fbem-10897	138	58	to	to	ADP
fbem-10897	138	59	the	the	DET
fbem-10897	138	60	society	society	NOUN
fbem-10897	138	61	and	and	CCONJ
fbem-10897	138	62	commitment	commitment	NOUN
fbem-10897	138	63	to	to	ADP
fbem-10897	138	64	the	the	DET
fbem-10897	138	65	future	future	ADJ
fbem-10897	138	66	sustainable	sustainable	ADJ
fbem-10897	138	67	development	development	NOUN
fbem-10897	138	68	strategy	strategy	NOUN
fbem-10897	138	69	of	of	ADP
fbem-10897	138	70	one	one	NUM
fbem-10897	138	71	of	of	ADP
fbem-10897	138	72	the	the	DET
fbem-10897	138	73	enterprise	enterprise	NOUN
fbem-10897	138	74	,	,	PUNCT
fbem-10897	138	75	for	for	ADP
fbem-10897	138	76	the	the	DET
fbem-10897	138	77	domestic	domestic	ADJ
fbem-10897	138	78	beauty	beauty	NOUN
fbem-10897	138	79	makeup	makeup	NOUN
fbem-10897	138	80	industry	industry	NOUN
fbem-10897	138	81	development	development	NOUN
fbem-10897	138	82	.	.	PUNCT
fbem-10897	139	1	this	this	DET
fbem-10897	139	2	paper	paper	NOUN
fbem-10897	139	3	analyzes	analyze	VERB
fbem-10897	139	4	the	the	DET
fbem-10897	139	5	development	development	NOUN
fbem-10897	139	6	status	status	NOUN
fbem-10897	139	7	of	of	ADP
fbem-10897	139	8	esg	esg	PROPN
fbem-10897	139	9	,	,	PUNCT
fbem-10897	139	10	and	and	CCONJ
fbem-10897	139	11	studies	study	NOUN
fbem-10897	139	12	the	the	DET
fbem-10897	139	13	event	event	NOUN
fbem-10897	139	14	of	of	ADP
fbem-10897	139	15	msci	msci	PROPN
fbem-10897	139	16	upgraded	upgrade	VERB
fbem-10897	139	17	esg	esg	NOUN
fbem-10897	139	18	rating	rating	NOUN
fbem-10897	139	19	.	.	PUNCT
fbem-10897	140	1	it	it	PRON
fbem-10897	140	2	is	be	AUX
fbem-10897	140	3	found	find	VERB
fbem-10897	140	4	that	that	SCONJ
fbem-10897	140	5	the	the	DET
fbem-10897	140	6	improvement	improvement	NOUN
fbem-10897	140	7	of	of	ADP
fbem-10897	140	8	esg	esg	PROPN
fbem-10897	140	9	rating	rating	NOUN
fbem-10897	140	10	has	have	VERB
fbem-10897	140	11	a	a	DET
fbem-10897	140	12	positive	positive	ADJ
fbem-10897	140	13	impact	impact	NOUN
fbem-10897	140	14	on	on	ADP
fbem-10897	140	15	the	the	DET
fbem-10897	140	16	stock	stock	NOUN
fbem-10897	140	17	market	market	NOUN
fbem-10897	140	18	price	price	NOUN
fbem-10897	140	19	and	and	CCONJ
fbem-10897	140	20	enterprise	enterprise	NOUN
fbem-10897	140	21	value	value	NOUN
fbem-10897	140	22	of	of	ADP
fbem-10897	140	23	enterprises	enterprise	NOUN
fbem-10897	140	24	in	in	ADP
fbem-10897	140	25	the	the	DET
fbem-10897	140	26	short	short	ADJ
fbem-10897	140	27	term	term	NOUN
fbem-10897	140	28	.	.	PUNCT
fbem-10897	141	1	the	the	DET
fbem-10897	141	2	improvement	improvement	NOUN
fbem-10897	141	3	of	of	ADP
fbem-10897	141	4	good	good	ADJ
fbem-10897	141	5	esg	esg	NOUN
fbem-10897	141	6	ratings	rating	NOUN
fbem-10897	141	7	for	for	ADP
fbem-10897	141	8	corporate	corporate	ADJ
fbem-10897	141	9	value	value	NOUN
fbem-10897	141	10	is	be	AUX
fbem-10897	141	11	determined	determine	VERB
fbem-10897	141	12	by	by	ADP
fbem-10897	141	13	many	many	ADJ
fbem-10897	141	14	reasons	reason	NOUN
fbem-10897	141	15	.	.	PUNCT
fbem-10897	142	1	in	in	ADP
fbem-10897	142	2	recent	recent	ADJ
fbem-10897	142	3	years	year	NOUN
fbem-10897	142	4	,	,	PUNCT
fbem-10897	142	5	consumers	consumer	NOUN
fbem-10897	142	6	pay	pay	VERB
fbem-10897	142	7	more	more	ADJ
fbem-10897	142	8	attention	attention	NOUN
fbem-10897	142	9	to	to	ADP
fbem-10897	142	10	the	the	DET
fbem-10897	142	11	corporate	corporate	ADJ
fbem-10897	142	12	social	social	ADJ
fbem-10897	142	13	responsibility	responsibility	NOUN
fbem-10897	142	14	and	and	CCONJ
fbem-10897	142	15	sustainability	sustainability	NOUN
fbem-10897	142	16	,	,	PUNCT
fbem-10897	142	17	the	the	DET
fbem-10897	142	18	esg	esg	NOUN
fbem-10897	142	19	rating	rating	NOUN
fbem-10897	142	20	will	will	AUX
fbem-10897	142	21	help	help	VERB
fbem-10897	142	22	prove	prove	VERB
fbem-10897	142	23	its	its	PRON
fbem-10897	142	24	commitment	commitment	NOUN
fbem-10897	142	25	to	to	ADP
fbem-10897	142	26	social	social	ADJ
fbem-10897	142	27	responsibility	responsibility	NOUN
fbem-10897	142	28	,	,	PUNCT
fbem-10897	142	29	on	on	ADP
fbem-10897	142	30	the	the	DET
fbem-10897	142	31	one	one	NUM
fbem-10897	142	32	hand	hand	NOUN
fbem-10897	142	33	,	,	PUNCT
fbem-10897	142	34	can	can	AUX
fbem-10897	142	35	improve	improve	VERB
fbem-10897	142	36	consumer	consumer	NOUN
fbem-10897	142	37	trust	trust	NOUN
fbem-10897	142	38	and	and	CCONJ
fbem-10897	142	39	brand	brand	NOUN
fbem-10897	142	40	loyalty	loyalty	NOUN
fbem-10897	142	41	,	,	PUNCT
fbem-10897	142	42	on	on	ADP
fbem-10897	142	43	the	the	DET
fbem-10897	142	44	other	other	ADJ
fbem-10897	142	45	hand	hand	NOUN
fbem-10897	142	46	played	play	VERB
fbem-10897	142	47	the	the	DET
fbem-10897	142	48	role	role	NOUN
fbem-10897	142	49	of	of	ADP
fbem-10897	142	50	stimulating	stimulate	VERB
fbem-10897	142	51	consumer	consumer	NOUN
fbem-10897	142	52	interest	interest	NOUN
fbem-10897	142	53	and	and	CCONJ
fbem-10897	142	54	curiosity	curiosity	NOUN
fbem-10897	142	55	,	,	PUNCT
fbem-10897	142	56	attract	attract	VERB
fbem-10897	142	57	more	more	ADJ
fbem-10897	142	58	consumers	consumer	NOUN
fbem-10897	142	59	to	to	PART
fbem-10897	142	60	try	try	VERB
fbem-10897	142	61	products	product	NOUN
fbem-10897	142	62	,	,	PUNCT
fbem-10897	142	63	to	to	PART
fbem-10897	142	64	improve	improve	VERB
fbem-10897	142	65	sales	sale	NOUN
fbem-10897	142	66	and	and	CCONJ
fbem-10897	142	67	market	market	NOUN
fbem-10897	142	68	share	share	NOUN
fbem-10897	142	69	.	.	PUNCT
fbem-10897	143	1	in	in	ADP
fbem-10897	143	2	addition	addition	NOUN
fbem-10897	143	3	,	,	PUNCT
fbem-10897	143	4	the	the	DET
fbem-10897	143	5	esg	esg	PROPN
fbem-10897	143	6	rating	rating	NOUN
fbem-10897	143	7	upgrade	upgrade	NOUN
fbem-10897	143	8	could	could	AUX
fbem-10897	143	9	encourage	encourage	VERB
fbem-10897	143	10	proya	proya	NOUN
fbem-10897	143	11	to	to	PART
fbem-10897	143	12	focus	focus	VERB
fbem-10897	143	13	more	more	ADV
fbem-10897	143	14	on	on	ADP
fbem-10897	143	15	environmental	environmental	ADJ
fbem-10897	143	16	and	and	CCONJ
fbem-10897	143	17	social	social	ADJ
fbem-10897	143	18	responsibility	responsibility	NOUN
fbem-10897	143	19	,	,	PUNCT
fbem-10897	143	20	thereby	thereby	ADV
fbem-10897	143	21	improving	improve	VERB
fbem-10897	143	22	resource	resource	NOUN
fbem-10897	143	23	utilization	utilization	NOUN
fbem-10897	143	24	and	and	CCONJ
fbem-10897	143	25	reducing	reduce	VERB
fbem-10897	143	26	related	related	ADJ
fbem-10897	143	27	costs	cost	NOUN
fbem-10897	143	28	,	,	PUNCT
fbem-10897	143	29	while	while	SCONJ
fbem-10897	143	30	also	also	ADV
fbem-10897	143	31	demonstrating	demonstrate	VERB
fbem-10897	143	32	a	a	DET
fbem-10897	143	33	focus	focus	NOUN
fbem-10897	143	34	on	on	ADP
fbem-10897	143	35	long	long	ADJ
fbem-10897	143	36	-	-	PUNCT
fbem-10897	143	37	term	term	NOUN
fbem-10897	143	38	sustainability	sustainability	NOUN
fbem-10897	143	39	and	and	CCONJ
fbem-10897	143	40	sound	sound	NOUN
fbem-10897	143	41	operations	operation	NOUN
fbem-10897	143	42	.	.	PUNCT
fbem-10897	144	1	in	in	ADP
fbem-10897	144	2	order	order	NOUN
fbem-10897	144	3	to	to	PART
fbem-10897	144	4	obtain	obtain	VERB
fbem-10897	144	5	high	high	ADJ
fbem-10897	144	6	esg	esg	NOUN
fbem-10897	144	7	rating	rating	NOUN
fbem-10897	144	8	performance	performance	NOUN
fbem-10897	144	9	,	,	PUNCT
fbem-10897	144	10	enterprises	enterprise	NOUN
fbem-10897	144	11	need	need	VERB
fbem-10897	144	12	to	to	PART
fbem-10897	144	13	make	make	VERB
fbem-10897	144	14	efforts	effort	NOUN
fbem-10897	144	15	in	in	ADP
fbem-10897	144	16	many	many	ADJ
fbem-10897	144	17	aspects	aspect	NOUN
fbem-10897	144	18	except	except	SCONJ
fbem-10897	144	19	for	for	ADP
fbem-10897	144	20	economic	economic	ADJ
fbem-10897	144	21	benefits	benefit	NOUN
fbem-10897	144	22	to	to	PART
fbem-10897	144	23	realize	realize	VERB
fbem-10897	144	24	the	the	DET
fbem-10897	144	25	synchronous	synchronous	ADJ
fbem-10897	144	26	development	development	NOUN
fbem-10897	144	27	of	of	ADP
fbem-10897	144	28	esg	esg	PROPN
fbem-10897	144	29	governance	governance	NOUN
fbem-10897	144	30	and	and	CCONJ
fbem-10897	144	31	enterprise	enterprise	NOUN
fbem-10897	144	32	performance	performance	NOUN
fbem-10897	144	33	,	,	PUNCT
fbem-10897	144	34	so	so	SCONJ
fbem-10897	144	35	that	that	SCONJ
fbem-10897	144	36	enterprises	enterprise	NOUN
fbem-10897	144	37	can	can	AUX
fbem-10897	144	38	enter	enter	VERB
fbem-10897	144	39	a	a	DET
fbem-10897	144	40	virtuous	virtuous	ADJ
fbem-10897	144	41	cycle	cycle	NOUN
fbem-10897	144	42	of	of	ADP
fbem-10897	144	43	development	development	NOUN
fbem-10897	144	44	.	.	PUNCT
fbem-10897	145	1	the	the	DET
fbem-10897	145	2	improvement	improvement	NOUN
fbem-10897	145	3	of	of	ADP
fbem-10897	145	4	environmental	environmental	ADJ
fbem-10897	145	5	benefits	benefit	NOUN
fbem-10897	145	6	is	be	AUX
fbem-10897	145	7	in	in	ADP
fbem-10897	145	8	line	line	NOUN
fbem-10897	145	9	with	with	ADP
fbem-10897	145	10	china	china	PROPN
fbem-10897	145	11	's	's	PART
fbem-10897	145	12	development	development	NOUN
fbem-10897	145	13	strategy	strategy	NOUN
fbem-10897	145	14	of	of	ADP
fbem-10897	145	15	environmental	environmental	ADJ
fbem-10897	145	16	protection	protection	NOUN
fbem-10897	145	17	,	,	PUNCT
fbem-10897	145	18	and	and	CCONJ
fbem-10897	145	19	the	the	DET
fbem-10897	145	20	fulfillment	fulfillment	NOUN
fbem-10897	145	21	of	of	ADP
fbem-10897	145	22	social	social	ADJ
fbem-10897	145	23	responsibility	responsibility	NOUN
fbem-10897	145	24	can	can	AUX
fbem-10897	145	25	improve	improve	VERB
fbem-10897	145	26	the	the	DET
fbem-10897	145	27	prestige	prestige	NOUN
fbem-10897	145	28	and	and	CCONJ
fbem-10897	145	29	efficient	efficient	ADJ
fbem-10897	145	30	corporate	corporate	ADJ
fbem-10897	145	31	governance	governance	NOUN
fbem-10897	145	32	can	can	AUX
fbem-10897	145	33	improve	improve	VERB
fbem-10897	145	34	the	the	DET
fbem-10897	145	35	internal	internal	ADJ
fbem-10897	145	36	management	management	NOUN
fbem-10897	145	37	structure	structure	NOUN
fbem-10897	145	38	of	of	ADP
fbem-10897	145	39	the	the	DET
fbem-10897	145	40	company	company	NOUN
fbem-10897	145	41	;	;	PUNCT
fbem-10897	145	42	on	on	ADP
fbem-10897	145	43	the	the	DET
fbem-10897	145	44	other	other	ADJ
fbem-10897	145	45	hand	hand	NOUN
fbem-10897	145	46	,	,	PUNCT
fbem-10897	145	47	with	with	ADP
fbem-10897	145	48	the	the	DET
fbem-10897	145	49	gradual	gradual	ADJ
fbem-10897	145	50	popularization	popularization	NOUN
fbem-10897	145	51	of	of	ADP
fbem-10897	145	52	esg	esg	PROPN
fbem-10897	145	53	concept	concept	NOUN
fbem-10897	145	54	,	,	PUNCT
fbem-10897	145	55	the	the	DET
fbem-10897	145	56	external	external	ADJ
fbem-10897	145	57	stakeholders	stakeholder	NOUN
fbem-10897	145	58	have	have	AUX
fbem-10897	145	59	become	become	VERB
fbem-10897	145	60	more	more	ADV
fbem-10897	145	61	sensitive	sensitive	ADJ
fbem-10897	145	62	to	to	ADP
fbem-10897	145	63	the	the	DET
fbem-10897	145	64	change	change	NOUN
fbem-10897	145	65	of	of	ADP
fbem-10897	145	66	esg	esg	PROPN
fbem-10897	145	67	rating	rating	NOUN
fbem-10897	145	68	.	.	PUNCT
fbem-10897	146	1	investors	investor	NOUN
fbem-10897	146	2	have	have	AUX
fbem-10897	146	3	begun	begin	VERB
fbem-10897	146	4	to	to	PART
fbem-10897	146	5	value	value	VERB
fbem-10897	146	6	esg	esg	NOUN
fbem-10897	146	7	ratings	rating	NOUN
fbem-10897	146	8	,	,	PUNCT
fbem-10897	146	9	and	and	CCONJ
fbem-10897	146	10	they	they	PRON
fbem-10897	146	11	have	have	AUX
fbem-10897	146	12	realized	realize	VERB
fbem-10897	146	13	that	that	SCONJ
fbem-10897	146	14	high	high	ADJ
fbem-10897	146	15	esg	esg	NOUN
fbem-10897	146	16	ratings	rating	NOUN
fbem-10897	146	17	are	be	AUX
fbem-10897	146	18	sending	send	VERB
fbem-10897	146	19	a	a	DET
fbem-10897	146	20	message	message	NOUN
fbem-10897	146	21	to	to	ADP
fbem-10897	146	22	investors	investor	NOUN
fbem-10897	146	23	that	that	SCONJ
fbem-10897	146	24	companies	company	NOUN
fbem-10897	146	25	are	be	AUX
fbem-10897	146	26	in	in	ADP
fbem-10897	146	27	good	good	ADJ
fbem-10897	146	28	shape	shape	NOUN
fbem-10897	146	29	.	.	PUNCT
fbem-10897	147	1	the	the	DET
fbem-10897	147	2	reason	reason	NOUN
fbem-10897	147	3	why	why	SCONJ
fbem-10897	147	4	investors	investor	NOUN
fbem-10897	147	5	respond	respond	VERB
fbem-10897	147	6	quickly	quickly	ADV
fbem-10897	147	7	to	to	ADP
fbem-10897	147	8	the	the	DET
fbem-10897	147	9	company	company	NOUN
fbem-10897	147	10	's	's	PART
fbem-10897	147	11	esg	esg	NOUN
fbem-10897	147	12	rating	rating	NOUN
fbem-10897	147	13	changes	change	NOUN
fbem-10897	147	14	is	be	AUX
fbem-10897	147	15	also	also	ADV
fbem-10897	147	16	closely	closely	ADV
fbem-10897	147	17	related	relate	VERB
fbem-10897	147	18	to	to	ADP
fbem-10897	147	19	the	the	DET
fbem-10897	147	20	company	company	NOUN
fbem-10897	147	21	's	's	PART
fbem-10897	147	22	long	long	ADJ
fbem-10897	147	23	-	-	PUNCT
fbem-10897	147	24	term	term	NOUN
fbem-10897	147	25	investment	investment	NOUN
fbem-10897	147	26	in	in	ADP
fbem-10897	147	27	esg	esg	PROPN
fbem-10897	147	28	.	.	PUNCT
fbem-10897	148	1	since	since	SCONJ
fbem-10897	148	2	2020	2020	NUM
fbem-10897	148	3	,	,	PUNCT
fbem-10897	148	4	proya	proya	PROPN
fbem-10897	148	5	was	be	AUX
fbem-10897	148	6	included	include	VERB
fbem-10897	148	7	in	in	ADP
fbem-10897	148	8	the	the	DET
fbem-10897	148	9	msci	msci	PROPN
fbem-10897	148	10	rating	rating	NOUN
fbem-10897	148	11	,	,	PUNCT
fbem-10897	148	12	and	and	CCONJ
fbem-10897	148	13	only	only	ADV
fbem-10897	148	14	received	receive	VERB
fbem-10897	148	15	ccc	ccc	PROPN
fbem-10897	148	16	rating	rating	NOUN
fbem-10897	148	17	.	.	PUNCT
fbem-10897	149	1	such	such	ADJ
fbem-10897	149	2	rating	rating	NOUN
fbem-10897	149	3	result	result	NOUN
fbem-10897	149	4	enabled	enable	VERB
fbem-10897	149	5	proya	proya	NOUN
fbem-10897	149	6	to	to	PART
fbem-10897	149	7	advance	advance	VERB
fbem-10897	149	8	until	until	SCONJ
fbem-10897	149	9	it	it	PRON
fbem-10897	149	10	became	become	VERB
fbem-10897	149	11	the	the	DET
fbem-10897	149	12	only	only	ADJ
fbem-10897	149	13	chinese	chinese	ADJ
fbem-10897	149	14	listed	list	VERB
fbem-10897	149	15	company	company	NOUN
fbem-10897	149	16	with	with	ADP
fbem-10897	149	17	three	three	NUM
fbem-10897	149	18	grades	grade	NOUN
fbem-10897	149	19	in	in	ADP
fbem-10897	149	20	2022	2022	NUM
fbem-10897	149	21	.	.	PUNCT
fbem-10897	150	1	in	in	ADP
fbem-10897	150	2	the	the	DET
fbem-10897	150	3	long	long	ADJ
fbem-10897	150	4	-	-	PUNCT
fbem-10897	150	5	term	term	NOUN
fbem-10897	150	6	practice	practice	NOUN
fbem-10897	150	7	,	,	PUNCT
fbem-10897	150	8	investors	investor	NOUN
fbem-10897	150	9	have	have	AUX
fbem-10897	150	10	realized	realize	VERB
fbem-10897	150	11	that	that	SCONJ
fbem-10897	150	12	proya	proya	NOUN
fbem-10897	150	13	has	have	AUX
fbem-10897	150	14	implemented	implement	VERB
fbem-10897	150	15	long	long	ADJ
fbem-10897	150	16	-	-	PUNCT
fbem-10897	150	17	term	term	NOUN
fbem-10897	150	18	investment	investment	NOUN
fbem-10897	150	19	in	in	ADP
fbem-10897	150	20	esg	esg	PROPN
fbem-10897	150	21	,	,	PUNCT
fbem-10897	150	22	rather	rather	ADV
fbem-10897	150	23	than	than	ADP
fbem-10897	150	24	shortterm	shortterm	PROPN
fbem-10897	150	25	operation	operation	NOUN
fbem-10897	150	26	.	.	PUNCT
fbem-10897	151	1	by	by	ADP
fbem-10897	151	2	delivering	deliver	VERB
fbem-10897	151	3	positive	positive	ADJ
fbem-10897	151	4	information	information	NOUN
fbem-10897	151	5	to	to	ADP
fbem-10897	151	6	investors	investor	NOUN
fbem-10897	151	7	,	,	PUNCT
fbem-10897	151	8	enterprises	enterprise	NOUN
fbem-10897	151	9	can	can	AUX
fbem-10897	151	10	build	build	VERB
fbem-10897	151	11	a	a	DET
fbem-10897	151	12	sustainable	sustainable	ADJ
fbem-10897	151	13	and	and	CCONJ
fbem-10897	151	14	eco	eco	NOUN
fbem-10897	151	15	-	-	PUNCT
fbem-10897	151	16	friendly	friendly	ADJ
fbem-10897	151	17	corporate	corporate	ADJ
fbem-10897	151	18	reputation	reputation	NOUN
fbem-10897	151	19	and	and	CCONJ
fbem-10897	151	20	indirectly	indirectly	ADV
fbem-10897	151	21	enhance	enhance	VERB
fbem-10897	151	22	their	their	PRON
fbem-10897	151	23	corporate	corporate	ADJ
fbem-10897	151	24	value	value	NOUN
fbem-10897	151	25	.	.	PUNCT
fbem-10897	152	1	acknowledgment	acknowledgment	NOUN
fbem-10897	152	2	this	this	DET
fbem-10897	152	3	work	work	NOUN
fbem-10897	152	4	was	be	AUX
fbem-10897	152	5	financially	financially	ADV
fbem-10897	152	6	supported	support	VERB
fbem-10897	152	7	by	by	ADP
fbem-10897	152	8	soft	soft	ADJ
fbem-10897	152	9	science	science	NOUN
fbem-10897	152	10	program	program	NOUN
fbem-10897	152	11	of	of	ADP
fbem-10897	152	12	sichuan	sichuan	PROPN
fbem-10897	152	13	science	science	PROPN
fbem-10897	152	14	and	and	CCONJ
fbem-10897	152	15	technology	technology	PROPN
fbem-10897	152	16	department	department	NOUN
fbem-10897	152	17	fund(no.2022jdr0292	fund(no.2022jdr0292	PROPN
fbem-10897	152	18	)	)	PUNCT
fbem-10897	152	19	.	.	PUNCT
fbem-10897	153	1	references	reference	NOUN
fbem-10897	153	2	[	[	X
fbem-10897	153	3	1	1	NUM
fbem-10897	153	4	]	]	X
fbem-10897	153	5	zhang	zhang	PROPN
fbem-10897	153	6	hui	hui	PROPN
fbem-10897	153	7	,	,	PUNCT
fbem-10897	153	8	huang	huang	PROPN
fbem-10897	153	9	qunhui	qunhui	PROPN
fbem-10897	153	10	.	.	PUNCT
fbem-10897	154	1	bibliometric	bibliometric	ADJ
fbem-10897	154	2	analysis	analysis	NOUN
fbem-10897	154	3	of	of	ADP
fbem-10897	154	4	the	the	DET
fbem-10897	154	5	research	research	NOUN
fbem-10897	154	6	hotspots	hotspot	NOUN
fbem-10897	154	7	and	and	CCONJ
fbem-10897	154	8	frontiers	frontier	NOUN
fbem-10897	154	9	of	of	ADP
fbem-10897	154	10	esg	esg	PROPN
fbem-10897	154	11	responsible	responsible	ADJ
fbem-10897	154	12	investment	investment	NOUN
fbem-10897	155	1	[	[	X
fbem-10897	155	2	j	j	X
fbem-10897	155	3	]	]	X
fbem-10897	155	4	.	.	PUNCT
fbem-10897	156	1	science	science	NOUN
fbem-10897	156	2	and	and	CCONJ
fbem-10897	156	3	science	science	NOUN
fbem-10897	156	4	and	and	CCONJ
fbem-10897	156	5	technology	technology	NOUN
fbem-10897	156	6	management	management	NOUN
fbem-10897	156	7	,	,	PUNCT
fbem-10897	156	8	2022,43	2022,43	NUM
fbem-10897	156	9	(	(	PUNCT
fbem-10897	156	10	12	12	NUM
fbem-10897	156	11	):	):	PUNCT
fbem-10897	156	12	57	57	NUM
fbem-10897	156	13	-	-	SYM
fbem-10897	156	14	75	75	NUM
fbem-10897	156	15	.	.	PUNCT
fbem-10897	157	1	[	[	X
fbem-10897	157	2	2	2	NUM
fbem-10897	157	3	]	]	PUNCT
fbem-10897	157	4	wang	wang	PROPN
fbem-10897	157	5	linlin	linlin	PROPN
fbem-10897	157	6	,	,	PUNCT
fbem-10897	157	7	lian	lian	PROPN
fbem-10897	157	8	yonghui	yonghui	PROPN
fbem-10897	157	9	,	,	PUNCT
fbem-10897	157	10	dong	dong	PROPN
fbem-10897	157	11	jie	jie	PROPN
fbem-10897	157	12	.	.	PUNCT
fbem-10897	158	1	study	study	NOUN
fbem-10897	158	2	on	on	ADP
fbem-10897	158	3	the	the	DET
fbem-10897	158	4	mechanism	mechanism	NOUN
fbem-10897	158	5	of	of	ADP
fbem-10897	158	6	the	the	DET
fbem-10897	158	7	influence	influence	NOUN
fbem-10897	158	8	of	of	ADP
fbem-10897	158	9	esg	esg	PROPN
fbem-10897	158	10	performance	performance	NOUN
fbem-10897	158	11	on	on	ADP
fbem-10897	158	12	enterprise	enterprise	NOUN
fbem-10897	158	13	value	value	NOUN
fbem-10897	159	1	[	[	X
fbem-10897	159	2	j	j	X
fbem-10897	159	3	]	]	X
fbem-10897	159	4	.	.	PUNCT
fbem-10897	160	1	securities	security	NOUN
fbem-10897	160	2	market	market	PROPN
fbem-10897	160	3	herald	herald	PROPN
fbem-10897	160	4	,	,	PUNCT
fbem-10897	160	5	2022	2022	NUM
fbem-10897	160	6	,	,	PUNCT
fbem-10897	160	7	no.358(05):23	no.358(05):23	NOUN
fbem-10897	160	8	-	-	PUNCT
fbem-10897	160	9	34	34	NUM
fbem-10897	160	10	.	.	PUNCT
fbem-10897	161	1	[	[	X
fbem-10897	161	2	3	3	X
fbem-10897	161	3	]	]	X
fbem-10897	161	4	bai	bai	PROPN
fbem-10897	161	5	xiong	xiong	PROPN
fbem-10897	161	6	,	,	PUNCT
fbem-10897	161	7	zhu	zhu	PROPN
fbem-10897	161	8	yifan	yifan	PROPN
fbem-10897	161	9	,	,	PUNCT
fbem-10897	161	10	han	han	PROPN
fbem-10897	161	11	jinian	jinian	PROPN
fbem-10897	161	12	.	.	PUNCT
fbem-10897	162	1	esg	esg	NOUN
fbem-10897	162	2	performance	performance	NOUN
fbem-10897	162	3	,	,	PUNCT
fbem-10897	162	4	institutional	institutional	ADJ
fbem-10897	162	5	investor	investor	NOUN
fbem-10897	162	6	preferences	preference	NOUN
fbem-10897	162	7	,	,	PUNCT
fbem-10897	162	8	and	and	CCONJ
fbem-10897	162	9	corporate	corporate	ADJ
fbem-10897	162	10	value	value	NOUN
fbem-10897	162	11	[	[	X
fbem-10897	162	12	j	j	X
fbem-10897	162	13	]	]	X
fbem-10897	162	14	.	.	PUNCT
fbem-10897	163	1	statistics	statistic	NOUN
fbem-10897	163	2	and	and	CCONJ
fbem-10897	163	3	information	information	NOUN
fbem-10897	163	4	forum	forum	PROPN
fbem-10897	163	5	,	,	PUNCT
fbem-10897	163	6	2022,37	2022,37	NUM
fbem-10897	163	7	(	(	PUNCT
fbem-10897	163	8	10	10	NUM
fbem-10897	163	9	):	):	PUNCT
fbem-10897	163	10	117	117	NUM
fbem-10897	163	11	-	-	SYM
fbem-10897	163	12	128	128	NUM
fbem-10897	163	13	.	.	PUNCT
fbem-10897	164	1	[	[	X
fbem-10897	164	2	4	4	X
fbem-10897	164	3	]	]	PUNCT
fbem-10897	164	4	qi	qi	NOUN
fbem-10897	164	5	baolei	baolei	NOUN
fbem-10897	164	6	,	,	PUNCT
fbem-10897	164	7	yang	yang	PROPN
fbem-10897	164	8	jiarui	jiarui	PROPN
fbem-10897	164	9	,	,	PUNCT
fbem-10897	164	10	liu	liu	PROPN
fbem-10897	164	11	xiaoyan	xiaoyan	PROPN
fbem-10897	164	12	.	.	PUNCT
fbem-10897	165	1	impact	impact	NOUN
fbem-10897	165	2	of	of	ADP
fbem-10897	165	3	enterprise	enterprise	NOUN
fbem-10897	165	4	esg	esg	NOUN
fbem-10897	165	5	performance	performance	NOUN
fbem-10897	165	6	on	on	ADP
fbem-10897	165	7	stock	stock	NOUN
fbem-10897	165	8	price	price	NOUN
fbem-10897	165	9	synchronization	synchronization	NOUN
fbem-10897	165	10	[	[	X
fbem-10897	165	11	j	j	X
fbem-10897	165	12	/	/	SYM
fbem-10897	165	13	ol	ol	PROPN
fbem-10897	165	14	]	]	PUNCT
fbem-10897	165	15	.	.	PUNCT
fbem-10897	166	1	accounting	account	VERB
fbem-10897	166	2	monthly	monthly	ADV
fbem-10897	166	3	:	:	PUNCT
fbem-10897	166	4	1	1	NUM
fbem-10897	166	5	-	-	SYM
fbem-10897	166	6	10	10	NUM
fbem-10897	167	1	[	[	X
fbem-10897	167	2	2023	2023	NUM
fbem-10897	167	3	-	-	SYM
fbem-10897	167	4	04	04	NUM
fbem-10897	167	5	-	-	PUNCT
fbem-10897	167	6	02	02	NUM
fbem-10897	167	7	]	]	PUNCT
fbem-10897	167	8	.	.	PUNCT
fbem-10897	168	1	[	[	X
fbem-10897	168	2	5	5	X
fbem-10897	168	3	]	]	X
fbem-10897	168	4	zhang	zhang	PROPN
fbem-10897	168	5	lin	lin	PROPN
fbem-10897	168	6	,	,	PUNCT
fbem-10897	168	7	zhao	zhao	PROPN
fbem-10897	168	8	haitao	haitao	PROPN
fbem-10897	168	9	.	.	PROPN
fbem-10897	168	10	does	do	VERB
fbem-10897	168	11	corporate	corporate	ADJ
fbem-10897	168	12	environment	environment	NOUN
fbem-10897	168	13	,	,	PUNCT
fbem-10897	168	14	social	social	ADJ
fbem-10897	168	15	,	,	PUNCT
fbem-10897	168	16	and	and	CCONJ
fbem-10897	168	17	corporate	corporate	ADJ
fbem-10897	168	18	governance	governance	NOUN
fbem-10897	168	19	(	(	PUNCT
fbem-10897	168	20	esg	esg	NOUN
fbem-10897	168	21	)	)	PUNCT
fbem-10897	168	22	performance	performance	NOUN
fbem-10897	168	23	affect	affect	VERB
fbem-10897	168	24	enterprise	enterprise	NOUN
fbem-10897	168	25	value	value	NOUN
fbem-10897	168	26	?	?	PUNCT
fbem-10897	168	27	—	—	PUNCT
fbem-10897	168	28	—	—	PUNCT
fbem-10897	168	29	empirical	empirical	ADJ
fbem-10897	168	30	research	research	NOUN
fbem-10897	168	31	based	base	VERB
fbem-10897	168	32	on	on	ADP
fbem-10897	168	33	a	a	DET
fbem-10897	168	34	-	-	PUNCT
fbem-10897	168	35	share	share	NOUN
fbem-10897	168	36	listed	list	VERB
fbem-10897	168	37	companies	company	NOUN
fbem-10897	169	1	[	[	X
fbem-10897	169	2	j	j	X
fbem-10897	169	3	]	]	X
fbem-10897	169	4	.	.	PUNCT
fbem-10897	170	1	wuhan	wuhan	PROPN
fbem-10897	170	2	finance	finance	PROPN
fbem-10897	170	3	,	,	PUNCT
fbem-10897	170	4	2019	2019	NUM
fbem-10897	170	5	,	,	PUNCT
fbem-10897	170	6	no.238(10):36	no.238(10):36	NOUN
fbem-10897	170	7	-	-	PUNCT
fbem-10897	170	8	43	43	NUM
fbem-10897	170	9	.	.	PUNCT
fbem-10897	171	1	[	[	X
fbem-10897	171	2	6	6	NUM
fbem-10897	171	3	]	]	X
fbem-10897	171	4	xue	xue	PROPN
fbem-10897	171	5	tianhang	tianhang	PROPN
fbem-10897	171	6	,	,	PUNCT
fbem-10897	171	7	guo	guo	PROPN
fbem-10897	171	8	qin	qin	PROPN
fbem-10897	171	9	,	,	PUNCT
fbem-10897	171	10	xiao	xiao	PROPN
fbem-10897	171	11	wen	wen	PROPN
fbem-10897	171	12	.	.	PUNCT
fbem-10897	171	13	mechanism	mechanism	NOUN
fbem-10897	171	14	and	and	CCONJ
fbem-10897	171	15	empirical	empirical	ADJ
fbem-10897	171	16	study	study	NOUN
fbem-10897	171	17	of	of	ADP
fbem-10897	171	18	esg	esg	PROPN
fbem-10897	171	19	influence	influence	NOUN
fbem-10897	171	20	on	on	ADP
fbem-10897	171	21	enterprise	enterprise	NOUN
fbem-10897	171	22	value	value	NOUN
fbem-10897	171	23	in	in	ADP
fbem-10897	171	24	the	the	DET
fbem-10897	171	25	context	context	NOUN
fbem-10897	171	26	of	of	ADP
fbem-10897	171	27	two	two	NUM
fbem-10897	171	28	-	-	PUNCT
fbem-10897	171	29	carbon	carbon	NOUN
fbem-10897	171	30	target	target	NOUN
fbem-10897	172	1	[	[	X
fbem-10897	172	2	j	j	X
fbem-10897	172	3	]	]	X
fbem-10897	172	4	.	.	PUNCT
fbem-10897	173	1	social	social	ADJ
fbem-10897	173	2	science	science	NOUN
fbem-10897	173	3	front	front	NOUN
fbem-10897	173	4	,	,	PUNCT
fbem-10897	173	5	2022	2022	NUM
fbem-10897	173	6	,	,	PUNCT
fbem-10897	173	7	no.329(11):89	no.329(11):89	NOUN
fbem-10897	173	8	-	-	PUNCT
fbem-10897	173	9	99	99	NUM
fbem-10897	173	10	+	+	NOUN
fbem-10897	173	11	281	281	NUM
fbem-10897	173	12	.	.	PUNCT
fbem-10897	174	1	[	[	X
fbem-10897	174	2	7	7	NUM
fbem-10897	174	3	]	]	PUNCT
fbem-10897	174	4	xu	xu	PROPN
fbem-10897	174	5	guanghua	guanghua	PROPN
fbem-10897	174	6	,	,	PUNCT
fbem-10897	174	7	zhuo	zhuo	PROPN
fbem-10897	174	8	yaoyao	yaoyao	PROPN
fbem-10897	174	9	,	,	PUNCT
fbem-10897	174	10	zhang	zhang	PROPN
fbem-10897	174	11	yimeng	yimeng	PROPN
fbem-10897	174	12	,	,	PUNCT
fbem-10897	174	13	etc	etc	X
fbem-10897	174	14	.	.	X
fbem-10897	174	15	will	will	AUX
fbem-10897	174	16	esg	esg	PROPN
fbem-10897	174	17	information	information	NOUN
fbem-10897	174	18	disclosure	disclosure	NOUN
fbem-10897	174	19	increase	increase	VERB
fbem-10897	174	20	corporate	corporate	ADJ
fbem-10897	174	21	value?[j	value?[j	NOUN
fbem-10897	174	22	]	]	PUNCT
fbem-10897	174	23	.	.	PUNCT
fbem-10897	175	1	accounting	accounting	NOUN
fbem-10897	175	2	communications	communication	NOUN
fbem-10897	175	3	,	,	PUNCT
fbem-10897	175	4	2022	2022	NUM
fbem-10897	175	5	,	,	PUNCT
fbem-10897	175	6	no.888(04):33	no.888(04):33	NOUN
fbem-10897	175	7	-	-	PUNCT
fbem-10897	175	8	37	37	NUM
fbem-10897	175	9	.	.	PUNCT
fbem-10897	176	1	[	[	X
fbem-10897	176	2	8	8	NUM
fbem-10897	176	3	]	]	X
fbem-10897	176	4	yi	yi	PROPN
fbem-10897	176	5	lingxue	lingxue	PROPN
fbem-10897	176	6	,	,	PUNCT
fbem-10897	176	7	jiang	jiang	PROPN
fbem-10897	176	8	yiwei	yiwei	PROPN
fbem-10897	176	9	,	,	PUNCT
fbem-10897	176	10	yao	yao	PROPN
fbem-10897	176	11	shujie	shujie	PROPN
fbem-10897	176	12	.	.	PUNCT
fbem-10897	177	1	study	study	NOUN
fbem-10897	177	2	on	on	ADP
fbem-10897	177	3	the	the	DET
fbem-10897	177	4	value	value	NOUN
fbem-10897	177	5	creation	creation	NOUN
fbem-10897	177	6	effect	effect	NOUN
fbem-10897	177	7	of	of	ADP
fbem-10897	177	8	enterprise	enterprise	NOUN
fbem-10897	177	9	esg	esg	NOUN
fbem-10897	177	10	practice	practice	NOUN
fbem-10897	177	11	—	—	PUNCT
fbem-10897	177	12	—	—	PUNCT
fbem-10897	177	13	test	test	NOUN
fbem-10897	177	14	based	base	VERB
fbem-10897	177	15	on	on	ADP
fbem-10897	177	16	the	the	DET
fbem-10897	177	17	perspective	perspective	NOUN
fbem-10897	177	18	of	of	ADP
fbem-10897	177	19	external	external	ADJ
fbem-10897	177	20	pressure	pressure	NOUN
fbem-10897	177	21	[	[	X
fbem-10897	177	22	j	j	X
fbem-10897	177	23	]	]	X
fbem-10897	177	24	.	.	PUNCT
fbem-10897	178	1	southern	southern	ADJ
fbem-10897	178	2	economy	economy	NOUN
fbem-10897	178	3	,	,	PUNCT
fbem-10897	178	4	2022	2022	NUM
fbem-10897	178	5	,	,	PUNCT
fbem-10897	178	6	no.397(10):93	no.397(10):93	NOUN
fbem-10897	178	7	-	-	PUNCT
fbem-10897	178	8	110	110	NUM
fbem-10897	178	9	.	.	PUNCT
fbem-10897	179	1	[	[	X
fbem-10897	179	2	9	9	NUM
fbem-10897	179	3	]	]	X
fbem-10897	179	4	wang	wang	PROPN
fbem-10897	179	5	rong	rong	PROPN
fbem-10897	179	6	.	.	PUNCT
fbem-10897	180	1	a	a	DET
fbem-10897	180	2	study	study	NOUN
fbem-10897	180	3	on	on	ADP
fbem-10897	180	4	the	the	DET
fbem-10897	180	5	relationship	relationship	NOUN
fbem-10897	180	6	between	between	ADP
fbem-10897	180	7	esg	esg	PROPN
fbem-10897	180	8	information	information	NOUN
fbem-10897	180	9	disclosure	disclosure	NOUN
fbem-10897	180	10	and	and	CCONJ
fbem-10897	180	11	enterprise	enterprise	NOUN
fbem-10897	180	12	value	value	NOUN
fbem-10897	180	13	from	from	ADP
fbem-10897	180	14	the	the	DET
fbem-10897	180	15	perspective	perspective	NOUN
fbem-10897	180	16	of	of	ADP
fbem-10897	180	17	cost	cost	NOUN
fbem-10897	180	18	-	-	PUNCT
fbem-10897	180	19	gain	gain	NOUN
fbem-10897	180	20	[	[	X
fbem-10897	180	21	j	j	X
fbem-10897	180	22	]	]	X
fbem-10897	180	23	.	.	PUNCT
fbem-10897	181	1	journal	journal	PROPN
fbem-10897	181	2	of	of	ADP
fbem-10897	181	3	shanghai	shanghai	PROPN
fbem-10897	181	4	university	university	PROPN
fbem-10897	181	5	of	of	ADP
fbem-10897	181	6	international	international	ADJ
fbem-10897	181	7	business	business	NOUN
fbem-10897	181	8	and	and	CCONJ
fbem-10897	181	9	economics	economic	NOUN
fbem-10897	181	10	,	,	PUNCT
fbem-10897	181	11	2022,29	2022,29	NUM
fbem-10897	181	12	(	(	PUNCT
fbem-10897	181	13	04	04	NUM
fbem-10897	181	14	):	):	PUNCT
fbem-10897	181	15	74	74	NUM
fbem-10897	181	16	-	-	SYM
fbem-10897	181	17	86	86	NUM
fbem-10897	181	18	.	.	PUNCT
fbem-10897	182	1	[	[	X
fbem-10897	182	2	10	10	NUM
fbem-10897	182	3	]	]	X
fbem-10897	182	4	su	su	PROPN
fbem-10897	182	5	qilin	qilin	PROPN
fbem-10897	182	6	,	,	PUNCT
fbem-10897	182	7	zhu	zhu	PROPN
fbem-10897	182	8	wen	wen	PROPN
fbem-10897	182	9	.	.	PUNCT
fbem-10897	183	1	family	family	NOUN
fbem-10897	183	2	control	control	NOUN
fbem-10897	183	3	and	and	CCONJ
fbem-10897	183	4	corporate	corporate	ADJ
fbem-10897	183	5	value	value	NOUN
fbem-10897	183	6	of	of	ADP
fbem-10897	183	7	listed	list	VERB
fbem-10897	183	8	companies	company	NOUN
fbem-10897	184	1	[	[	X
fbem-10897	184	2	j	j	X
fbem-10897	184	3	]	]	X
fbem-10897	184	4	.	.	PUNCT
fbem-10897	185	1	economic	economic	ADJ
fbem-10897	185	2	research	research	NOUN
fbem-10897	185	3	,	,	PUNCT
fbem-10897	185	4	2003	2003	NUM
fbem-10897	185	5	(	(	PUNCT
fbem-10897	185	6	08	08	NUM
fbem-10897	185	7	):	):	PUNCT
fbem-10897	185	8	36	36	NUM
fbem-10897	185	9	-	-	SYM
fbem-10897	185	10	45	45	NUM
fbem-10897	185	11	+	+	NUM
fbem-10897	185	12	91	91	NUM
fbem-10897	185	13	.	.	PUNCT
fbem-10897	186	1	[	[	X
fbem-10897	186	2	11	11	NUM
fbem-10897	186	3	]	]	PUNCT
fbem-10897	186	4	xia	xia	PROPN
fbem-10897	186	5	lijun	lijun	PROPN
fbem-10897	186	6	,	,	PUNCT
fbem-10897	186	7	fang	fang	PROPN
fbem-10897	186	8	yiqiang	yiqiang	PROPN
fbem-10897	186	9	.	.	PUNCT
fbem-10897	187	1	government	government	NOUN
fbem-10897	187	2	control	control	NOUN
fbem-10897	187	3	,	,	PUNCT
fbem-10897	187	4	governance	governance	NOUN
fbem-10897	187	5	environment	environment	NOUN
fbem-10897	187	6	and	and	CCONJ
fbem-10897	187	7	corporate	corporate	ADJ
fbem-10897	187	8	value	value	NOUN
fbem-10897	187	9	—	—	PUNCT
fbem-10897	187	10	—	—	PUNCT
fbem-10897	187	11	empirical	empirical	ADJ
fbem-10897	187	12	evidence	evidence	NOUN
fbem-10897	187	13	from	from	ADP
fbem-10897	187	14	china	china	PROPN
fbem-10897	187	15	's	's	PART
fbem-10897	187	16	securities	security	NOUN
fbem-10897	187	17	market	market	NOUN
fbem-10897	188	1	[	[	X
fbem-10897	188	2	j	j	X
fbem-10897	188	3	]	]	X
fbem-10897	188	4	.	.	PUNCT
fbem-10897	189	1	economic	economic	ADJ
fbem-10897	189	2	research	research	NOUN
fbem-10897	189	3	,	,	PUNCT
fbem-10897	189	4	2005	2005	NUM
fbem-10897	189	5	(	(	PUNCT
fbem-10897	189	6	05	05	NUM
fbem-10897	189	7	):	):	PUNCT
fbem-10897	189	8	40	40	NUM
fbem-10897	189	9	-	-	SYM
fbem-10897	189	10	51	51	NUM
fbem-10897	189	11	.	.	PUNCT